UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number   File No. 811-04415

COLLEGE RETIREMENT EQUITIES FUND

(Exact name of Registrant as specified in charter)

730 Third Avenue, New York, New York 10017-3206

(Address of Principal Executive Offices) (Zip code)

Rachael M. Zufall, Esq.

c/o TIAA-CREF

8500 Andrew Carnegie Blvd.

Charlotte, North Carolina 28262-8500

(Name and address of agent for service)

Registrant’s telephone number, including area code: 704-595-1000

Date of fiscal year end: December 31

Date of reporting period: March 31, 2015

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2015

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BONDS - 0.0%
CORPORATE BONDS - 0.0%
CAPITAL GOODS - 0.0%
$	31,135	j,m	PDG Realty S.A. Empreendimentos e Participacoes		0.000	%	09/19/16	$	0	^
			TOTAL CAPITAL GOODS						0	^
DIVERSIFIED FINANCIALS - 0.0%
	466,000	m	Asia Pacific Investment Partners		8.000		04/29/16		444
			TOTAL DIVERSIFIED FINANCIALS						444
FOOD, BEVERAGE & TOBACCO - 0.0%
	800	m	Marfrig Global Foods S.A.		1.000		07/15/15		25
			TOTAL FOOD, BEVERAGE & TOBACCO						25
UTILITIES - 0.0%
INR	36,691,125		NTPC Ltd		8.490		03/25/25		595
			TOTAL UTILITIES						595
			TOTAL CORPORATE BONDS						1,064
			(Cost $520)
GOVERNMENT BONDS -  0.0%
U.S. TREASURY SECURITIES - 0.0%
$	300,000		United States Treasury Note		1.750		05/15/22		301
			TOTAL U.S. TREASURY SECURITIES						301
			TOTAL GOVERNMENT BONDS						301
			(Cost $303)
			TOTAL BONDS						1,365
			(Cost $823)
EQUITY LINKED NOTES - 0.0%
BANKS - 0.0%
	319	*,j	HSBC Bank plc, Kingdom of Saudi Arabia		0.000		08/07/17		2,441
			TOTAL BANKS						2,441
DIVERSIFIED FINANCIALS - 0.0%
	10,563,831	*,g,j	Deutsche Bank, Fondul Proprietatea S.A.		0.000		10/24/22		2,243
			TOTAL DIVERSIFIED FINANCIALS						2,243
			TOTAL EQUITY LINKED NOTES						4,684
			(Cost $6,106)

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.4%
AUTOMOBILES & COMPONENTS - 2.3%
	50,085		Actron Technology Corp	$	197
	210,800		Aisan Industry Co Ltd		1,814
	709,001		Aisin Seiki Co Ltd		25,705
	372,300	e	Akebono Brake Industry Co Ltd		1,363
	412,914	*	American Axle & Manufacturing Holdings, Inc		10,666
	154,352		Amtek Auto Ltd		357
	69,047		Amtek India Ltd		61
	330,420		Apollo Tyres Ltd		889
	63,250	e	ARB Corp Ltd		596
	14,821		AtlasBX Co Ltd		594
	84,205	e	Autoliv, Inc		9,917
	2,775		Autoneum Holding AG.		614
	136,321		Bajaj Holdings and Investment Ltd		4,394
	37,023		Balkrishna Industries Ltd		384
	447,793		Bayerische Motoren Werke AG.		55,766
	12,700		Bayerische Motoren Werke AG. (Preference)		1,173
	339,538		Bharat Forge Ltd		6,931
	236,329		BorgWarner, Inc		14,293
	5,731		Bosch Ltd		2,328
	121,395		Brembo S.p.A.		4,961
	1,040,742		Bridgestone Corp		41,671
	5,427,900		Brilliance China Automotive Holdings Ltd		10,449
	756,700	e	Byd Co Ltd		3,889
	522,000		Calsonic Kansei Corp		3,454
	53,477		Ceat Ltd		688
	1,385,000	e	Chaowei Power Holdings Ltd		681
	1,536,200		Cheng Shin Rubber Industry Co Ltd		3,526
	203,858		China Motor Corp		176
	996,371	m	Chongqing Changan Automobile Co Ltd		2,721
	163,228		Cie Automotive S.A.		2,427
	178,994		Compagnie Plastic-Omnium S.A.		4,717
	172,564		Continental AG.		40,638
	357,813		Cooper Tire & Rubber Co		15,329
	55,755	*,e	Cooper-Standard Holding, Inc		3,301
	26,388		Cub Elecparts, Inc		303
	22,293		Dae Won Kang Up Co Ltd		129
	29,000		Daido Metal Co Ltd		302
	190,367	e	Daihatsu Motor Co Ltd		2,912
	1,799,933	e	Daimler AG. (Registered)		172,856
	717,681		Dana Holding Corp		15,186
	3,776,008		Delphi Automotive plc		301,099
	595,601		Denso Corp		27,151
	267,000		Depo Auto Parts Ind Co Ltd		1,133
	13,878		Dong Ah Tire & Rubber Co Ltd		276

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	3,141,050		Dongfeng Motor Group Co Ltd	$	5,024
	116,296		Dongyang Mechatronics Corp		832
	74,265	*,e	Dorman Products, Inc		3,695
	479,500		Double Coin Holdings Ltd		477
	2,231,900		Drb-Hicom BHD		1,187
	125,923		Drew Industries, Inc		7,749
	22,100		Eagle Industry Co Ltd		446
	66,000		E-Lead Electronic Co Ltd		146
	87,226		ElringKlinger AG.		2,615
	42,682		Exedy Corp		1,017
	952,634	e	Faurecia		41,541
	35,900		FCC Co Ltd		559
	296,260		Federal Corp		163
	96,398	*	Federal Mogul Corp (Class A)		1,283
	2,963,782	*	Fiat DaimlerChrysler Automobiles NV		48,114
	5,748,468		Ford Motor Co		92,780
	90,811		Ford Otomotiv Sanayi AS		1,170
	28,745	*	Fox Factory Holding Corp		441
	48,377	*	Fuel Systems Solutions, Inc		534
	795,725		Fuji Heavy Industries Ltd		26,415
	192,897	*	Futaba Industrial Co Ltd		897
	873,600	*,g	Fuyao Glass Industry Group Co Ltd		2,141
	5,378,675	e	Geely Automobile Holdings Ltd		2,763
	85,268,000	*,e,m	General Motors Co		0	^
	18,507,434	*,m	General Motors Co		0	^
	1,997,614		General Motors Co		74,910
	7,950,000	*,m	General Motors Co		0	^
	722,689	*,e,m	General Motors Co		0	^
	40,684,487	*,m	General Motors Co		0	^
	6,062,000	*,m	General Motors Co		0	^
	26,439,191	*,m	General Motors Co		0	^
	35,983,677	*,m	General Motors Co		0	^
	4,230,271	*,e,m	General Motors Co		0	^
	24,057,000	*,m	General Motors Co		0	^
	840,014		Gentex Corp		15,372
	142,044	*	Gentherm, Inc		7,175
	2,553,779		GKN plc		13,546
	15,423		Global & Yuasa Battery Co Ltd		695
	37,783		Goodyear Lastikleri Turk AS.		995
	439,360		Goodyear Tire & Rubber Co		11,898
	63,961		Grammer AG.		2,358
	1,730,144		Great Wall Motor Co Ltd		12,197
	16,100		G-Tekt Corp		145
	2,369,971		Guangzhou Automobile Group Co Ltd		2,264
	37,383		Halla Climate Control Corp		1,291
	40,833		Halla Holdings Corp		2,602
	26,020		Hanil E-Hwa Co Ltd		371
	63,415		Hanil E-Wha Co Ltd		896
	99,422		Hankook Tire Co Ltd		4,057
	185,099		Harley-Davidson, Inc		11,243
	81,426		Hero Honda Motors Ltd		3,438
	1,889,191	e	Honda Motor Co Ltd		61,669

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,573,997		Hota Industrial Manufacturing Co Ltd	$	5,100
	79,199		Hu Lane Associate, Inc		365
	205,000	*	Hunan Tyen Machinery Co Ltd		104
	76,949		Hwa Shin Co Ltd		518
	179,028		Hyundai Mobis		39,656
	343,034		Hyundai Motor Co		51,950
	41,836		Hyundai Motor Co Ltd (2nd Preference)		4,288
	26,174		Hyundai Motor Co Ltd (Preference)		2,611
	17,446		Hyundai Wia Corp		2,222
	1,090,395		Isuzu Motors Ltd		14,467
	786,974		Johnson Controls, Inc		39,695
	424,896		Kayaba Industry Co Ltd		1,553
	432,603		Keihin Corp		6,632
	777,775		Kenda Rubber Industrial Co Ltd		1,522
	531,377		Kia Motors Corp		21,594
	52,000	e	Kinugawa Rubber Industrial Co Ltd		226
	81,136		Koito Manufacturing Co Ltd		2,440
	1,455,365	*	Kongsberg Automotive ASA		1,071
	101,179	*	Kumho Tire Co, Inc		830
	658,576		Lear Corp		72,983
	33,108		Leoni AG.		2,091
	149,454		Linamar Corp		9,215
	42,000		Macauto Industrial Co Ltd		181
	829,995	e	Magna International, Inc (Class A)		44,372
	203,000		Magna International, Inc (Class A) (NY)		10,893
	515,728		Mahindra & Mahindra Ltd		9,789
	107,700		Mahle-Metal Leve S.A. Industria e Comercio		671
	7,117		Mando Corp		1,024
	172,834		Martinrea International, Inc		1,717
	2,589,979		Mazda Motor Corp		52,478
	127,300		Metair Investments Ltd		352
	4,139	*	Metaldyne Performance Group, Inc		75
	8,597		MGI Coutier		118
	467,144		Michelin (C.G.D.E.) (Class B)		46,455
	984,000		Minth Group Ltd		1,940
	31,700		Mitsuba Corp		700
	230,717		Mitsubishi Motors Corp		2,080
	677,108	*,e	Mobileye NV		28,459
	152,244	*	Modine Manufacturing Co		2,051
	25,281	e	Montupet		1,806
	508,022		Motherson Sumi Systems Ltd		4,176
	8,283		Motonic Corp		92
	53,433	*	Motorcar Parts of America, Inc		1,485
	2,090		MRF Ltd		1,294
	24,700		Musashi Seimitsu Industry Co Ltd		522
	421,948		Nan Kang Rubber Tire Co Ltd		413
	1,003		Nexen Corp		80
	142,892		Nexen Tire Corp		1,671
	2,476,000		Nexteer Automotive Group Ltd		2,498
	136,944		NGK Spark Plug Co Ltd		3,676
	147,154		NHK Spring Co Ltd		1,531
	153,151		Nifco, Inc		5,279

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	53,000		Nippon Seiki Co Ltd	$	1,044
	6,504,130		Nissan Motor Co Ltd		66,151
	91,941		Nissan Shatai Co Ltd		1,179
	47,100		Nissin Kogyo Co Ltd		748
	293,839		NOK Corp		8,835
	26,518	e	Nokian Renkaat Oyj		790
	8,467		Otokar Otobus Karoseri Sanayi AS		313
	155,600	e	Pacific Industrial Co Ltd		1,272
	431,200		PCS Machine Group Holding PCL		111
	276,319	*	Peugeot S.A.		4,619
	170,094	*,e	Piaggio & C S.p.A.		518
	22,300		Piolax Inc		908
	78,558		Pirelli & C S.p.A.		1,300
	83,079		Porsche AG.		8,136
	409,000		Press Kogyo Co Ltd		1,655
	23,612,000		PT Astra International Tbk		15,465
	1,555,900		PT Gajah Tunggal Tbk		158
	37,283		Pyeong Hwa Automotive Co Ltd		554
	8,710,000		Qingling Motors Co Ltd		3,179
	117,410		Remy International, Inc		2,608
	1,570,129		Renault S.A.		142,615
	96,000		Riken Corp		379
	25,866		S&T Daewoo Co Ltd		1,279
	43,978		SAF-Holland S.A.		704
	144,000		Sanden Corp		643
	460,920	*	Sanyang Industry Co Ltd		385
	34,074		Sejong Industrial Co Ltd		359
	24,119	*	Shiloh Industries, Inc		339
	253,700		Showa Corp		2,561
	57,614		SL Corp		970
	40,142	*	Sogefi S.p.A.		132
	992,225		Somboon Advance Technology PCL		591
	124,023		Spartan Motors, Inc		601
	2,430,500		Sri Trang Agro-Industry PCL (Foreign)		896
	38,128	*	Ssangyong Motor Co		312
	78,247		Standard Motor Products, Inc		3,307
	195,687		Stanley Electric Co Ltd		4,417
	120,421	*	Stoneridge, Inc		1,360
	8,994	e	Strattec Security Corp		664
	618,173		Sumitomo Rubber Industries, Inc		11,395
	55,018		Sundram Fasteners Ltd		153
	33,095		Sungwoo Hitech Co Ltd		335
	81,142		Superior Industries International, Inc		1,536
	131,998		Suzuki Motor Corp		3,964
	2,143,653		T RAD Co Ltd		4,568
	25,400		Tachi-S Co Ltd		356
	19,300		Taiho Kogyo Co Ltd		227
	35,200	*,e	Takata Corp		385
	1,865,363		Tata Motors Ltd		16,281
	19,500		Teikoku Piston Ring Co Ltd		522
	291,402	*	Tenneco, Inc		16,732
	1,133,889	*,e	Tesla Motors, Inc		214,044

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	133,381		Thor Industries, Inc	$	8,431
	748,000	e	Tianneng Power International Ltd		250
	331,614		Tofas Turk Otomobil Fabrik		2,006
	191,463		Tokai Rika Co Ltd		4,437
	152,200		Tokai Rubber Industries, Inc		1,334
	1,763,699		Tong Yang Industry Co Ltd		2,060
	39,600		Topre Corp		618
	150,342	*	Tower International, Inc		3,999
	119,500		Toyo Tire & Rubber Co Ltd		2,147
	71,177		Toyoda Gosei Co Ltd		1,589
	66,700	e	Toyota Boshoku Corp		833
	150,940		Toyota Industries Corp		8,633
	5,820,102		Toyota Motor Corp		406,265
	89,057	*	TRW Automotive Holdings Corp		9,338
	57,300		TS Tech Co Ltd		1,545
	135,265		Tube Investments Of India		789
	58,089		Tung Thih Electronic Co Ltd		235
	40,600		Tupy S.A.		209
	258,161		TVS Motor Co Ltd		1,089
	593,166		UMW Holdings BHD		1,738
	38,500		Unipres Corp		785
	282,385		Valeo S.A.		42,119
	92,439	*	Visteon Corp		8,911
	199,505		Volkswagen AG.		51,297
	52,733		Volkswagen AG. (Preference)		13,985
	74,422	e	Winnebago Industries, Inc		1,582
	2,095,400	*,e	Xinchen China Power Holdings Ltd		820
	2,102,000		Xingda International Holdings Ltd		576
	1,986,785	e	Xinyi Glass Holdings Co Ltd		1,226
	278,644		Yamaha Motor Co Ltd		6,713
	689,000		Yokohama Rubber Co Ltd		7,102
	257,500	e	Yorozu Corp		5,408
	593,646		Yulon Motor Co Ltd		810
	80,000		Zhejiang Shibao Co Ltd		97
			TOTAL AUTOMOBILES & COMPONENTS		2,927,670
BANKS - 7.6%
	54,295		1st Source Corp		1,744
	1,367,030		77 Bank Ltd		7,736
	366,026		Aareal Bank AG.		15,427
	1,145,346		Abu Dhabi Commercial Bank PJSC		2,013
	73,970,000		Agricultural Bank of China		36,622
	17,800		Aichi Bank Ltd		909
	523,826	*	Ajman Bank PJSC		303
	2,068,887		Akbank TAS		6,069
	145,341		Al Khalij Commercial Bank		802
	1,197,805		Albaraka Turk Katilim Bankasi AS		791
	4,710,170	*	Aldermore Group plc		16,280
	52,135	*	Alior Bank S.A.		1,144
	337,561		Allahabad Bank		541
	1,118,800		Alliance Financial Group BHD		1,445
	4,125,731	*	Alpha Bank S.A.		1,222

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	315,270	*,m	Amagerbanken AS	$	0	^
	34,614		American National Bankshares, Inc		782
	82,855		Ameris Bancorp		2,187
	32,294	e	Ames National Corp		802
	1,705,304		AMMB Holdings BHD		2,925
	1,786	*,e	Anchor BanCorp Wisconsin, Inc		62
	323,951		Andhra Bank		410
	11,119,391		Aozora Bank Ltd		39,413
	109,022		Apollo Residential Mortgage		1,739
	39,737		Arrow Financial Corp		1,079
	109,000		Ashikaga Holdings Co Ltd		458
	72,010	*	Asia United Bank		114
	204,706		Associated Banc-Corp		3,808
	302,898		Astoria Financial Corp		3,923
	514,415	*	Asya Katilim Bankasi AS		123
	2,395,701		Australia & New Zealand Banking Group Ltd		66,649
	250,721		Awa Bank Ltd		1,420
	454,951		Axis Bank Ltd		4,080
	91,873	e	Banc of California, Inc		1,131
	4,484,811	*,e	Banca Carige S.p.A.		344
	21,170,923		Banca Intesa S.p.A.		71,854
	4,779,814		Banca Intesa S.p.A. RSP		14,845
	1,078,169	*,e	Banca Monte dei Paschi di Siena S.p.A		716
	488,423	*	Banca Popolare dell'Emilia Romagna Scrl		4,248
	9,565,038	*	Banca Popolare di Milano		9,652
	1,224,679		Banca Popolare di Sondrio SCARL		5,560
	23,289		Bancfirst Corp		1,420
	972,202		Banche Popolari Unite Scpa		7,582
	168,464		Banco ABC Brasil S.A.		607
	5,103	*	Banco ABC Brasil S.A. (ADR)		18
	2,940,500		Banco Bilbao Vizcaya Argentaria S.A.		29,698
	364,082	*,e	Banco BPI S.A.		557
	993,397	*	Banco Bradesco S.A.		9,378
	4,434,511	*	Banco Bradesco S.A. (Preference)		41,225
	41,877,366	*,e	Banco Comercial Portugues S.A.		4,306
	215,213		Banco Davivienda S.A.		2,094
	76,000		Banco Daycoval S.A.		200
	52,363,935		Banco de Chile		5,869
	57,931		Banco de Credito e Inversiones		2,584
	2,143,624		Banco de Oro Universal Bank		5,940
	1,085,893	e	Banco de Sabadell S.A.		2,653
	1,740,822		Banco do Brasil S.A.		12,496
	176,847		Banco do Estado do Rio Grande do Sul		610
	16,063,377	*,m	Banco Espirito Santo S.A.		173
	58,200		Banco Industrial e Comercial S.A.		134
	5,931,092		Banco Itau Holding Financeira S.A.		65,619
	94,697		Banco Latinoamericano de Exportaciones S.A. (Class E)		3,105
	293,357		Banco Pan S.A.		138
	57,907		Banco Pine S.A.		101
	466,253	*	Banco Popolare SC		7,258
	531,681		Banco Popular Espanol S.A.		2,601
	1,103,503		Banco Santander Brasil S.A.		4,865

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	11,262,775		Banco Santander Central Hispano S.A.	$	84,430
	150,029,015		Banco Santander Chile S.A.		8,163
	708		BanColombia S.A.		7
	460,363		BanColombia S.A. (Preference)		4,497
	325,116		Bancorpsouth, Inc		7,549
	103,400		Bangkok Bank PCL		586
	655,700		Bangkok Bank PCL (ADR)		3,715
	551,355		Bangkok Bank PCL (Foreign)		3,142
	41,576,148	*,e	BANIF-Banco Internacional do Funchal S.A.		344
	60,605		Bank Handlowy w Warszawie S.A.		1,731
	1,079,174		Bank Hapoalim Ltd		5,189
	1,790,865	*	Bank Leumi Le-Israel		6,641
	599,933		Bank Millennium S.A.		1,050
	174,003		Bank Mutual Corp		1,274
	42,583,741		Bank of America Corp		655,364
	508,136		Bank of Baroda		1,330
	152,047,000		Bank of China Ltd		87,895
	1,383,500	e	Bank of Chongqing Co Ltd		1,142
	21,346,040		Bank of Communications Co Ltd		18,346
	43,491	*	Bank of Cyprus Pcl		10
	1,303,090		Bank of East Asia Ltd		5,191
	108,847		Bank of Georgia Holdings plc		2,792
	32,015	e	Bank of Hawaii Corp		1,960
	204,132		Bank of India		639
	31,454,323	*	Bank of Ireland		12,001
	31,200		Bank of Iwate Ltd		1,350
	451,599		Bank of Kaohsiung		133
	20,074		Bank of Kentucky Financial Corp		985
	703,727		Bank of Kyoto Ltd		7,376
	23,241		Bank of Marin Bancorp		1,183
	1,070,450	e	Bank of Montreal		64,148
	163,000	e	Bank of Nagoya Ltd		540
	1,676,188		Bank of Nova Scotia		84,091
	24,000		Bank of Okinawa Ltd		1,008
	414,020		Bank of Queensland Ltd		4,338
	302,541		Bank of Saga Ltd		762
	232,270		Bank of the Ozarks, Inc		8,578
	925,947		Bank of the Philippine Islands		2,081
	223,200		Bank of the Ryukyus Ltd		3,201
	2,815,512		Bank of Yokohama Ltd		16,489
	28,474	*,m	Bank Otkritie Financial Corp OJSC (ADR)		276
	149,706		Bank Pekao S.A.		7,253
	22,770,804		Bank Rakyat Indonesia		23,097
	29,780		Bank Zachodni WBK S.A.		2,708
	71,403		BankFinancial Corp		938
	1,743,252	*	Bankia S.A.		2,429
	167,726	e	Bankinter S.A.		1,279
	267,739		BankUnited		8,766
	66,089		Banner Corp		3,033
	6,304		Banque Cantonale Vaudoise		3,614
	1,534,400	e	Banregio Grupo Financiero SAB de C.V.		7,817
	1,188,397	e	Barclays Africa Group Ltd		18,111

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	47,713,761		Barclays plc	$	172,224
	1,186,669		BB&T Corp		46,268
	270,056		BBCN Bancorp, Inc		3,908
	21,841	*,e	BBX Capital Corp		406
	262,866		Bendigo Bank Ltd		2,505
	134,389	*	Beneficial Bancorp, Inc		1,517
	87,691		Berkshire Hills Bancorp, Inc		2,429
	49,986	*	Blue Hills Bancorp, Inc		661
	72,070	e	BNC Bancorp		1,304
	1,550,840		BNP Paribas		94,362
	12,053,037		BOC Hong Kong Holdings Ltd		42,987
	39,491	*,e	BofI Holding, Inc		3,674
	25,342	e	BOK Financial Corp		1,551
	277,139		Boston Private Financial Holdings, Inc		3,367
	33,690		BRE Bank S.A.		3,910
	43,585	e	Bridge Bancorp, Inc		1,126
	35,706	*	Bridge Capital Holdings		932
	336,231		Brookline Bancorp, Inc		3,379
	48,159		Bryn Mawr Bank Corp		1,465
	544,089		BS Financial Group, Inc		7,441
	5,651,633		Bumiputra-Commerce Holdings BHD		9,488
	7,205	*,e	C1 Financial, Inc		135
	28,228		Camden National Corp		1,125
	626,553	e	Canadian Imperial Bank of Commerce/Canada		45,423
	81,751		Canadian Western Bank		1,790
	3,194		Canara Bank		19
	82,047	*	Capital Bank Financial Corp		2,265
	41,812		Capital City Bank Group, Inc		679
	484,099		Capitol Federal Financial		6,051
	105,839		Cardinal Financial Corp		2,115
	114,256	*	Cascade Bancorp		548
	270,555		Cathay General Bancorp		7,697
	117,545		Centerstate Banks of Florida, Inc		1,400
	61,795		Central Pacific Financial Corp		1,419
	12,866		Century Bancorp, Inc		511
	5,270,074		Chang Hwa Commercial Bank		3,044
	48,794		Charter Financial Corp		561
	104,951		Chemical Financial Corp		3,291
	1,153,266		Chiba Bank Ltd		8,452
	60,100		Chiba Kogyo Bank Ltd		400
	16,445,010		China Citic Bank		12,398
	147,785,791		China Construction Bank		122,660
	14,942,661		China Development Financial Holding Corp		5,173
	8,300,000		China Everbright Bank Co Ltd		4,572
	8,245,122		China Merchants Bank Co Ltd		20,132
	10,641,294		China Minsheng Banking Corp Ltd		12,977
	23,792,198		Chinatrust Financial Holding Co		15,792
	170,000	*	Chong Hing Bank Ltd		403
	20,591,014	e	Chongqing Rural Commercial Bank		13,349
	142,705		Chugoku Bank Ltd		2,131
	622,888		CIT Group, Inc		28,105
	11,901,714		Citigroup, Inc		613,176

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	46,898		Citizens & Northern Corp	$	946
	857,216		Citizens Financial Group, Inc		20,685
	53,795	e	City Holding Co		2,530
	36,148		City National Corp		3,220
	112,773		City Union Bank Ltd		175
	87,899		Clifton Bancorp, Inc		1,240
	52,086		CNB Financial Corp		886
	128,141		CoBiz, Inc		1,579
	193,132		Columbia Banking System, Inc		5,595
	27,765		Comdirect Bank AG.		278
	89,668		Comerica, Inc		4,047
	74,747		Commerce Bancshares, Inc		3,163
	481,172	*	Commercial Bank of Ceylon plc		598
	122,262		Commercial Bank of Qatar QSC		1,847
	2,446,022		Commercial International Bank		18,031
	3,991,290	*	Commerzbank AG.		54,845
	1,554,280		Commonwealth Bank of Australia		110,246
	139,550	e	Community Bank System, Inc		4,939
	54,733		Community Trust Bancorp, Inc		1,815
	38,922	*,e	CommunityOne Bancorp		383
	66,442	e	ConnectOne Bancorp, Inc		1,293
	239,416,032		CorpBanca S.A.		2,532
	86,686		Credicorp Ltd (NY)		12,191
	5,362,481		Credit Agricole S.A.		78,801
	83,830		Credito Emiliano S.p.A.		728
	6,967,181		Criteria CaixaBank S.A.		33,042
	43,429	*,e	CU Bancorp		988
	106,543		Cullen/Frost Bankers, Inc		7,360
	83,444	*	Customers Bancorp, Inc		2,033
	357,224		CVB Financial Corp		5,694
	1,437,835		Dah Sing Banking Group Ltd		2,491
	527,664		Dah Sing Financial Holdings Ltd		3,118
	308,000		Daishi Bank Ltd		1,084
	356,030		Danske Bank AS		9,386
	2,442,634		DBS Group Holdings Ltd		36,219
	1,346,033	*	Development Credit Bank Ltd		2,388
	103,233		Dewan Housing Finance Corp Ltd		772
	174,065		DGB Financial Group Co Ltd		1,897
	1,940,892	*	Dhanalakshmi Bank Ltd		959
	123,672		Dime Community Bancshares		1,991
	602,787		DNB NOR Holding ASA		9,675
	124,574		Doha Bank QSC		1,719
	977,853		Dubai Islamic Bank PJSC		1,645
	6,851,523		E.Sun Financial Holding Co Ltd		4,189
	66,913	*	Eagle Bancorp, Inc		2,569
	1,253,999		East West Bancorp, Inc		50,737
	379,600	*	EastWest Banking Corp		208
	345,000		Eighteenth Bank Ltd		1,047
	29,185	e	Enterprise Bancorp, Inc		620
	78,869		Enterprise Financial Services Corp		1,629
	437,460		Erste Bank der Oesterreichischen Sparkassen AG.		10,755
	150,259	*	Essent Group Ltd		3,593

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	7,775,076	*	Eurobank Ergasias SA	$	877
	372,581		EverBank Financial Corp		6,718
	3,851,853		Far Eastern International Bank		1,342
	19,483	*,e	FCB Financial Holdings, Inc		533
	33,936		Federal Agricultural Mortgage Corp (Class C)		957
	2,774,570		Federal Bank Ltd		5,861
	60,711		Fidelity Southern Corp		1,025
	1,832,724		Fifth Third Bancorp		34,547
	70,480		Financial Institutions, Inc		1,616
	368,765	*	FinecoBank Banca Fineco S.p.A		2,543
	89,497		First Bancorp (NC)		1,572
	360,167	*	First Bancorp (Puerto Rico)		2,233
	36,648		First Bancorp, Inc		640
	265,545		First Busey Corp		1,776
	12,846	e	First Business Financial Services, Inc		555
	35,656		First Citizens Bancshares, Inc (Class A)		9,260
	323,413		First Commonwealth Financial Corp		2,911
	67,753		First Community Bancshares, Inc		1,188
	59,940		First Connecticut Bancorp		921
	35,102		First Defiance Financial Corp		1,152
	201,549		First Financial Bancorp		3,590
	193,548	e	First Financial Bankshares, Inc		5,350
	46,114		First Financial Corp		1,655
	8,122,506		First Financial Holding Co Ltd		4,823
	61,099	e	First Financial Northwest, Inc		755
	2,478,136		First Gulf Bank PJSC		9,842
	263,253		First Horizon National Corp		3,762
	113,182		First International Bank Of Israel Ltd		1,556
	61,230		First Interstate Bancsystem, Inc		1,703
	127,314		First Merchants Corp		2,997
	264,657		First Midwest Bancorp, Inc		4,597
	12,700	e	First National Financial Corp		206
	50,233	*	First NBC Bank Holding Co		1,657
	315,590		First Niagara Financial Group, Inc		2,790
	45,729		First of Long Island Corp		1,166
	139,925		First Republic Bank		7,988
	555,935		FirstMerit Corp		10,596
	71,950	*	Flagstar Bancorp, Inc		1,044
	103,071		Flushing Financial Corp		2,069
	588,330		FNB Corp		7,731
	55,506		Fox Chase Bancorp, Inc		934
	1,134,412		Fukuoka Financial Group, Inc		5,834
	99,096		Fulton Financial Corp		1,223
	115,471	e	Genworth MI Canada, Inc		2,553
	233,211	e	Genworth Mortgage Insurance Australia Ltd		583
	48,553		German American Bancorp, Inc		1,429
	1,106,104	*	Get Bank S.A.		492
	588,956	*	Getin Holding S.A.		323
	254,952		Glacier Bancorp, Inc		6,412
	34,104		Great Southern Bancorp, Inc		1,343
	47,461		Great Western Bancorp, Inc		1,045
	1,488	*,e	Green Bancorp, Inc		17

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	120,974		Gruh Finance Ltd	$	472
	1,962,452		Grupo Aval Acciones y Valores		879
	8,000	e	Grupo Aval Acciones y Valores (ADR)		72
	5,437,738		Grupo Financiero Banorte S.A. de C.V.		31,557
	3,458,007		Grupo Financiero Inbursa S.A.		8,733
	2,021,757	e	Grupo Financiero Santander Mexico SAB de C.V.		4,420
	56,537		Guaranty Bancorp		959
	1,040,859		Gunma Bank Ltd		7,032
	452,116		Hachijuni Bank Ltd		3,188
	137,451	*,e	Hampton Roads Bankshares, Inc		260
	316,862		Hana Financial Group, Inc		8,196
	279,189		Hancock Holding Co		8,337
	823,588		Hang Seng Bank Ltd		14,906
	104,983		Hanmi Financial Corp		2,220
	407,383		HDFC Bank Ltd		6,665
	23,165		HDFC Bank Ltd (ADR)		1,364
	57,258		Heartland Financial USA, Inc		1,868
	78,848		Heritage Commerce Corp		720
	102,541		Heritage Financial Corp		1,743
	75,396		Heritage Oaks Bancorp		627
	129,000		Higashi-Nippon Bank Ltd		405
	220,331		Higo Bank Ltd		1,350
	855,062	*	Hilltop Holdings, Inc		16,622
	251,647		Hiroshima Bank Ltd		1,356
	280,000		Hokkoku Bank Ltd		976
	437,000		Hokuetsu Bank Ltd		852
	1,629,947		Hokuhoku Financial Group, Inc		3,633
	156,790		Home Bancshares, Inc		5,314
	130,024	e	Home Capital Group, Inc		4,369
	247,015	e	Home Loan Servicing Solutions Ltd		4,086
	67,717		HomeStreet, Inc		1,241
	91,757	*	HomeTrust Bancshares, Inc		1,465
	529,597		Hong Leong Bank BHD		2,039
	383,612		Hong Leong Credit BHD		1,753
	32,877		Horizon Bancorp		769
	3,297,534		Housing Development Finance Corp		69,331
	14,979,798		HSBC Holdings plc		127,649
	6,556,683		Hua Nan Financial Holdings Co Ltd		3,746
	460,052		Hudson City Bancorp, Inc		4,821
	54,334		Hudson Valley Holding Corp		1,389
	7,207,809		Huntington Bancshares, Inc		79,646
	544,692		Hyakugo Bank Ltd		2,526
	553,000		Hyakujushi Bank Ltd		1,826
	104,831		IBERIABANK Corp		6,607
	2,003,864		ICICI Bank Ltd		10,145
	22,814		ICICI Bank Ltd (ADR)		236
	84,907	e	Independent Bank Corp (MA)		3,725
	69,974		Independent Bank Corp (MI)		898
	38,807	e	Independent Bank Group, Inc		1,510
	128,963		Indian Bank		357
	266,122		IndusInd Bank Ltd		3,773
	160,504,366		Industrial & Commercial Bank of China		118,722

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	482,878		Industrial Bank of Korea	$	5,796
	150,730		ING Vysya Bank Ltd		2,253
	181,930		International Bancshares Corp		4,736
	6,686,051		Investors Bancorp, Inc		78,361
	541,290	*,m	Irish Bank Resolution Corp Ltd		0	^
	952,772	*	Israel Discount Bank Ltd		1,609
	39,943	*,m	Itausa-Investimentos Itau S.A. (ADR)		125
	217,145		Iyo Bank Ltd		2,575
	406,618		Jammu & Kashmir Bank Ltd		617
	110,923		JB Financial Group Co Ltd		629
	346,500		Jimoto Holdings Inc		647
	899,525		Joyo Bank Ltd		4,623
	12,347,240		JPMorgan Chase & Co		747,996
	339,555		Juroku Bank Ltd		1,246
	72,053	*	Jyske Bank		3,029
	149,000		Kagoshima Bank Ltd		1,013
	44,700		Kansai Urban Banking Corp		463
	67,700		Kanto Tsukuba Bank Ltd		219
	815,612		Karnataka Bank Ltd		1,627
	81,430	*	Karur Vysya Bank Ltd		709
	142,400		Kasikornbank PCL		1,001
	474,300		Kasikornbank PCL - NVDR		3,335
	2,238,906		Kasikornbank PCL (Foreign)		15,823
	843,332		KB Financial Group, Inc		29,769
	195,590	*	KBC Groep NV		12,088
	53,570	*	Kearny Financial Corp		727
	723,000		Keiyo Bank Ltd		4,185
	8,592,884		Keycorp		121,675
	417,132		Kiatnakin Bank PCL		500
	678,000		King's Town Bank		648
	167,500		Kiyo Bank Ltd		2,331
	19,050	*	KJB Financial Group Co Ltd		141
	36,021	*	KNB Financial Group Co Ltd		304
	53,870		Komercni Banka AS		11,620
	46,862		Kotak Mahindra Bank Ltd		983
	13,911,570		Krung Thai Bank PCL (Foreign)		9,746
	48,147	*	Ladder Capital Corp		891
	137,071		Lakeland Bancorp, Inc		1,576
	54,273		Lakeland Financial Corp		2,202
	30,409	e	Laurentian Bank of Canada		1,134
	134,119		LegacyTexas Financial Group, Inc		3,049
	20,014	*	LendingTree, Inc		1,121
	4,952,640		LH Financial Group PCL		274
	10,925,198	*,e	Liberbank S.A.		8,764
	549,768		LIC Housing Finance Ltd		3,846
	65,215,143	*	Lloyds TSB Group plc		75,593
	58,723	e	M&T Bank Corp		7,458
	92,704	e	Macatawa Bank Corp		496
	73,714		MainSource Financial Group, Inc		1,448
	5,953,752		Malayan Banking BHD		15,000
	883,002		Malaysia Building Society		523
	5,646,074	*,m	Marfin Popular Bank Public Co Ltd		61

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	416,142		Masraf Al Rayan	$	5,433
	226,965		MB Financial, Inc		7,106
	23,190,357		Mega Financial Holding Co Ltd		19,210
	60,526		Mercantile Bank Corp		1,183
	21,449		Merchants Bancshares, Inc		626
	119,185	*	Meridian Bancorp, Inc		1,570
	21,333		Meta Financial Group, Inc		848
	2,411,973		Metropolitan Bank & Trust		5,255
	1,231,825	*	MGIC Investment Corp		11,862
	39,446		Midsouth Bancorp, Inc		582
	25,410		MidWestOne Financial Group, Inc		733
	191,000		Mie Bank Ltd		437
	223,000		Minato Bank Ltd		516
	24,552,579		Mitsubishi UFJ Financial Group, Inc		152,064
	8,515,361		Mitsui Trust Holdings, Inc		35,373
	368,000		Miyazaki Bank Ltd		1,399
	33,838	*	Mizrahi Tefahot Bank Ltd		343
	18,678,763		Mizuho Financial Group, Inc		32,827
	74,868		Musashino Bank Ltd		2,511
	281,928		Nanto Bank Ltd		977
	2,047,183		National Australia Bank Ltd		59,930
	138,698		National Bank Holdings Corp		2,609
	668,156		National Bank of Abu Dhabi PJSC		2,163
	933,311	e	National Bank of Canada		34,074
	1,662,293	*	National Bank of Greece S.A.		1,986
	25,350	e	National Bankshares, Inc		756
	411,183		National Penn Bancshares, Inc		4,428
	49,391	*,e	Nationstar Mortgage Holdings, Inc		1,223
	2,240,032		Natixis		16,779
	154,680	e	NBT Bancorp, Inc		3,876
	372,150	e	Nedbank Group Ltd		7,289
	264,298	e	New York Community Bancorp, Inc		4,422
	115,619		NewBridge Bancorp		1,031
	1,072,300		Nishi-Nippon City Bank Ltd		3,108
	173,141	*,e	NMI Holdings, Inc		1,297
	1,799,632	e	Nordea Bank AB		21,920
	389,900		North Pacific Bank Ltd		1,472
	233,859		Northfield Bancorp, Inc		3,466
	24,814		Northrim BanCorp, Inc		609
	302,795		Northwest Bancshares, Inc		3,588
	49,586		OceanFirst Financial Corp		856
	312,505	*,e	Ocwen Financial Corp		2,578
	151,741	e	OFG Bancorp		2,476
	349,000		Ogaki Kyoritsu Bank Ltd		1,103
	368,000		Oita Bank Ltd		1,429
	30,862	e	Old Line Bancshares, Inc		488
	395,976		Old National Bancorp		5,619
	88,861	*,e	OneSavings Bank plc		362
	40,720		Opus Bank		1,257
	178,053		Oriental Bank of Commerce		583
	153,232		Oritani Financial Corp		2,230
	425,994	e	OTP Bank		8,042

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	4,749,197		Oversea-Chinese Banking Corp	$	36,571
	68,950		Pacific Continental Corp		912
	89,589	*	Pacific Premier Bancorp, Inc		1,450
	376,340	e	PacWest Bancorp		17,647
	16,272	e	Palmetto Bancshares, Inc		309
	310,918		Paragon Group of Cos plc		1,943
	41,622	e	Park National Corp		3,561
	168,023		Park Sterling Bank		1,193
	58,296		Peapack Gladstone Financial Corp		1,259
	16,960	e	Penns Woods Bancorp, Inc		830
	52,330		Pennsylvania Commerce Bancorp, Inc		1,443
	41,402	*	PennyMac Financial Services, Inc		703
	38,219		Peoples Bancorp, Inc		903
	26,183	e	Peoples Financial Services Corp		1,175
	273,666	e	People's United Financial, Inc		4,160
	2,467,276	*	Philippine National Bank		4,273
	1,126,664	*	Piccolo Credito Valtellinese Scarl		1,511
	123,555		Pinnacle Financial Partners, Inc		5,493
	11,977,238	*	Piraeus Bank S.A.		4,623
	861,305		PNC Financial Services Group, Inc		80,308
	97,059	*	Popular, Inc		3,338
	966,319		Powszechna Kasa Oszczednosci Bank Polski S.A.		8,649
	42,750		Preferred Bank		1,174
	245,018		PrivateBancorp, Inc		8,617
	235,769		Prosperity Bancshares, Inc		12,373
	205,454		Provident Financial Services, Inc		3,832
	66,025,600		PT Bank Bukopin Tbk		3,581
	13,097,987		PT Bank Central Asia Tbk		14,845
	3,070,402		PT Bank Danamon Indonesia Tbk		1,203
	17,732,800		PT Bank Jabar Banten Tbk		1,357
	12,866,568		PT Bank Mandiri Persero Tbk		12,270
	16,461,013		PT Bank Negara Indonesia		9,088
	44,500,000	*	PT Bank Pan Indonesia Tbk		4,840
	27,931,300		PT Bank Pembangunan Daerah Jawa Timur Tbk		1,174
	20,489,394		PT Bank Tabungan Negara Tbk		1,964
	3,218,209		Public Bank BHD		16,406
	60,648		Qatar Islamic Bank SAQ		1,651
	236,734		Qatar National Bank		12,579
	710,892	e	Radian Group, Inc		11,936
	43,484	e	Raiffeisen International Bank Holding AG.		604
	2,504,373		Regions Financial Corp		23,666
	108,283	e	Renasant Corp		3,254
	42,072		Republic Bancorp, Inc (Class A)		1,040
	116,055	*,e	Republic First Bancorp, Inc		421
	2,930,035		Resona Holdings, Inc		14,541
	670,624		RHB Capital BHD		1,432
	529,120		Rizal Commercial Banking Corp		534
	5,200	*,m	Roskilde Bank		0	^
	76,701		Royal Bank of Canada		4,630
	2,542,018	e	Royal Bank of Canada (Toronto)		153,017
	1,399,610	*	Royal Bank of Scotland Group plc		7,070
	104,433		S&T Bancorp, Inc		2,964

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	90,334	e	Sandy Spring Bancorp, Inc	$	2,369
	148,000		San-In Godo Bank Ltd		1,222
	4,988,768		Sberbank of Russian Federation (ADR)		21,866
	60,582	*	Seacoast Banking Corp of Florida		864
	466,360		Security Bank Corp		1,795
	293,068	*	Sekerbank TAS		188
	218,580		Senshu Ikeda Holdings, Inc		1,038
	29,591	e	ServisFirst Bancshares, Inc		976
	347,193		Seven Bank Ltd		1,712
	229,000	e	Shiga Bank Ltd		1,143
	806,821		Shinhan Financial Group Co Ltd		30,312
	8,525,179	e	Shinsei Bank Ltd		16,951
	626,400		Shizuoka Bank Ltd		6,248
	2,290,400		Siam Commercial Bank PCL (Foreign)		12,527
	52,737		Sierra Bancorp		881
	363,031	*	Signature Bank		47,042
	57,788		Simmons First National Corp (Class A)		2,628
	8,593,922		SinoPac Financial Holdings Co Ltd		3,582
	3,521,099	e	Skandinaviska Enskilda Banken AB (Class A)		41,097
	803,868		Societe Generale		38,812
	2,578,170		South Indian Bank Ltd		1,040
	101,926		South State Corp		6,971
	81,646	e	Southside Bancshares, Inc		2,342
	64,466		Southwest Bancorp, Inc		1,147
	195,314		Spar Nord Bank A/s		1,877
	259,855	e	Sparebanken Midt-Norge		1,918
	213,384		Sparebanken Nord-Norge		1,081
	18,122	*	Square  Financial, Inc		485
	3,209	e	St Galler Kantonalbank		1,140
	1,377,433		Standard Bank Group Ltd		19,035
	2,183,426		Standard Chartered plc		35,364
	197,104		State Bank & Trust Co		4,139
	27,740		State Bank of Bikaner & Jaip		262
	1,527,938		State Bank of India		6,527
	298,479	e	Sterling Bancorp/DE		4,003
	53,341		Stock Yards Bancorp, Inc		1,837
	49,983		Stonegate Bank		1,509
	45,469	*,e	Stonegate Mortgage Corp		492
	50,698		Suffolk Bancorp		1,205
	3,668,442		Sumitomo Mitsui Financial Group, Inc		140,518
	32,491	*	Sun Bancorp, Inc		614
	718,287		SunTrust Banks, Inc		29,514
	503,090		Suruga Bank Ltd		10,447
	639,801		Susquehanna Bancshares, Inc		8,772
	203,939	*	SVB Financial Group		25,908
	184,671		Svenska Handelsbanken (A Shares)		8,317
	1,912,062	*,e	Swedbank AB (A Shares)		45,648
	225,123	e	Sydbank AS		7,047
	403,521		Syndicate Bank		653
	272,296		Synovus Financial Corp		7,627
	2,024,383	*	Ta Chong Bank Co Ltd		688
	3,647,436		Taichung Commercial Bank		1,241

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	8,884,042		Taishin Financial Holdings Co Ltd	$	3,770
	2,323,136	*	Taiwan Business Bank		705
	7,129,247		Taiwan Cooperative Financial Holding		3,608
	63,132		Talmer Bancorp Inc		967
	2,318,077		TCF Financial Corp		36,440
	656,872		TCS Group Holding plc (ADR)		1,576
	73,558	*	Tekstil Bankasi AS.		57
	33,149		Territorial Bancorp, Inc		788
	145,468	*	Texas Capital Bancshares, Inc		7,077
	90,668		TFS Financial Corp		1,331
	1,538,400		Thanachart Capital PCL		1,643
	112,014	*	The Bancorp, Inc		1,011
	1,225,780		Tisco Bank PCL		1,724
	10,110,300		TMB Bank PCL (Foreign)		925
	239,000		Tochigi Bank Ltd		1,233
	408,000		Toho Bank Ltd		1,679
	56,300		Tokyo TY Financial Group, Inc		1,509
	356,700		Tomony Holdings, Inc		1,613
	49,933		Tompkins Trustco, Inc		2,689
	3,778,645	e	Toronto-Dominion Bank		161,731
	391,000		Towa Bank Ltd		322
	157,246	e	TowneBank		2,529
	75,259		Trico Bancshares		1,816
	70,605	*	Tristate Capital Holdings, Inc		739
	8,024	*,e	Triumph Bancorp, Inc		110
	412,278		Trustco Bank Corp NY		2,836
	333,875		Trustmark Corp		8,106
	1,550,735	*,e,g	TSB Banking Group plc		7,679
	4,049,056		Turkiye Garanti Bankasi AS		13,204
	673,551		Turkiye Halk Bankasi AS		3,317
	2,628,272		Turkiye Is Bankasi (Series C)		5,915
	2,150,176		Turkiye Sinai Kalkinma Bankasi AS		1,642
	798,080		Turkiye Vakiflar Bankasi Tao		1,303
	127,970		UMB Financial Corp		6,768
	565,052		Umpqua Holdings Corp		9,708
	4,463,927		UniCredit S.p.A		30,271
	1,410,396	*	Union Bank Of Taiwan		480
	156,353		Union Bankshares Corp		3,473
	234,357	e	United Bankshares, Inc		8,807
	166,904		United Community Banks, Inc		3,151
	157,843		United Community Financial Corp		862
	173,503		United Financial Bancorp, Inc (New)		2,157
	929,763		United Overseas Bank Ltd		15,585
	60,117		Univest Corp of Pennsylvania		1,190
	6,447,115		US Bancorp		281,546
	29,445		Valiant Holding		2,488
	766,711	e	Valley National Bancorp		7,238
	539,312		Vijaya Bank		401
	2,917,206	*	Virgin Money Holdings UK plc		17,126
	2,628,328		VTB Bank OJSC (GDR)		5,281
	60,179	*	Walker & Dunlop, Inc		1,067
	334,951		Washington Federal, Inc		7,304

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	52,336		Washington Trust Bancorp, Inc	$	1,999
	109,829		Waterstone Financial, Inc		1,410
	305,889		Webster Financial Corp		11,333
	22,896,303		Wells Fargo & Co		1,245,559
	113,362		WesBanco, Inc		3,693
	58,298		West Bancorporation, Inc		1,160
	91,251	e	Westamerica Bancorporation		3,943
	221,076	*	Western Alliance Bancorp		6,553
	4,475,926		Westpac Banking Corp		133,790
	256,613		Wilshire Bancorp, Inc		2,558
	154,787		Wintrust Financial Corp		7,380
	307,538		Woori Bank		2,595
	37,867		WSFS Financial Corp		2,864
	62,615	*	Yadkin Financial Corp		1,271
	292,000	e	Yamagata Bank Ltd		1,238
	297,492	e	Yamaguchi Financial Group, Inc		3,419
	358,000		Yamanashi Chuo Bank Ltd		1,568
	880,095		Yapi ve Kredi Bankasi		1,349
	330,250		Yes Bank Ltd		4,311
	1,120,121		Zions Bancorporation		30,243
			TOTAL BANKS		9,332,080
CAPITAL GOODS - 7.3%
	3,105,392		3M Co		512,234
	188,400		A.O. Smith Corp		12,370
	153,504		Aalberts Industries NV		4,831
	115,202		Aaon, Inc		2,826
	138,259		AAR Corp		4,245
	1,766,190		ABB Ltd		37,468
	676,775	e	Abengoa S.A.		2,640
	225,821	e	Abengoa S.A. (B Shares)		818
	3,560,352		Aboitiz Equity Ventures, Inc		4,618
	1,886,000		AcBel Polytech, Inc		2,002
	113,078	*	Accuride Corp		527
	79,304		ACS Actividades Construccion y Servicios S.A.		2,807
	218,005		Actuant Corp (Class A)		5,175
	193,392		Acuity Brands, Inc		32,521
	171,672		Adani Enterprises Ltd		1,690
	39,044		Aditya Birla Nuvo Ltd		1,039
	300,000		Advan Co Ltd		3,812
	51,228		Advanced Drainage Systems, Inc		1,534
	82,796	*	Advanced Lithium Electrochemistry Co Ltd		91
	197,785	*	Aecom Technology Corp		6,096
	168,855		Aecon Group, Inc		1,496
	126,682	*	Aegion Corp		2,287
	107,500	*	AerCap Holdings NV		4,692
	103,458	*,e	Aerovironment, Inc		2,743
	15,627	e	AFG Arbonia-Forster Hldg		312
	35,645	e	AG Growth International Inc		1,448
	218,285	e	AGCO Corp		10,399
	50,436		AIA Engineering Ltd		1,010
	52,799		Aica Kogyo Co Ltd		1,229

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	30,700		Aichi Corp	$	155
	183,000		Aida Engineering Ltd		2,098
	252,612		Air Lease Corp		9,534
	204,901		Aircastle Ltd		4,602
	346,508		Airtac International Group		2,775
	61,125		Akfen Holding AS.		142
	38,669		Alamo Group, Inc		2,441
	84,121		Alarko Holding AS		120
	93,461		Albany International Corp (Class A)		3,715
	73,938		Alfa Laval AB		1,452
	4,593,729		Alfa S.A. de C.V. (Class A)		9,276
	961,975		Allegion plc		58,844
	2,125,064		Alliance Global Group, Inc		1,257
	662,745		Allison Transmission Holdings, Inc		21,168
	33,473		Alstom Projects India Ltd		390
	240,113	*	Alstom RGPT		7,389
	73,634		Altra Holdings, Inc		2,035
	253,236		Amada Co Ltd		2,439
	64,660		Amara Raja Batteries Ltd		861
	67,149	*	Ameresco, Inc		497
	26,402	e	American Railcar Industries, Inc		1,313
	26,138	e	American Science & Engineering, Inc		1,277
	99,429	*	American Woodmark Corp		5,442
	433,401		Ametek, Inc		22,771
	34,000	*,m	Amrep Corp		0	^
	17,258	*,e	Andritz AG.		1,030
	87,431		Apogee Enterprises, Inc		3,777
	133,391		Applied Industrial Technologies, Inc		6,048
	2,080,369	*	Arabtec Holding Co		1,283
	5,290	*,e	ARC Group Worldwide, Inc		28
	62,995		Arcadis NV		2,023
	70,627	*,e	Arcam AB		1,295
	74,093		Argan, Inc		2,680
	34,078	*	Armstrong World Industries, Inc		1,958
	363,845	*	ArvinMeritor, Inc		4,588
	51,800		Asahi Diamond Industrial Co Ltd		591
	1,603,911		Asahi Glass Co Ltd		10,506
	955,284		Ashok Leyland Ltd		1,120
	3,077,618		Ashtead Group plc		49,358
	573,878		Assa Abloy AB (Class B)		34,183
	231,536	e	Astaldi S.p.A.		1,958
	63,855		Astec Industries, Inc		2,738
	28,802		Astral Polytechnik Ltd		206
	49,714	*	Astronics Corp		3,664
	788,016		Asunaro Aoki Construction Co Ltd		5,598
	347,499		Atlas Copco AB (A Shares)		11,250
	110,902		Atlas Copco AB (B Shares)		3,275
	106,994	*	ATS Automation Tooling Systems, Inc		1,147
	1,892,675	e	Austal Ltd		2,531
	407,325	*,e	Aveng Ltd		378
	3,112,000	*,e	AVIC International Holding HK Ltd		289
	2,449,843	e	AviChina Industry & Technology Co		1,761

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	71,426		AZZ, Inc	$	3,328
	50,838		B&B Tools AB		831
	89,728		Babcock & Wilcox Co		2,879
	36,937	e	Badger Daylighting Ltd		789
	6,214,570		BAE Systems plc		48,160
	699,575		Balfour Beatty plc		2,492
	110,478	*,e	Ballard Power Systems, Inc		230
	162,000		Bando Chemical Industries Ltd		626
	482,000		Baoye Group Co Ltd		289
	564,768		Barloworld Ltd		4,309
	184,326		Barnes Group, Inc		7,463
	10,320	*	Bauer AG.		198
	13,302		BayWa AG.		520
	144,015	*	BE Aerospace, Inc		9,162
	57	*	Beacon Power Corp		0	^
	158,679	*	Beacon Roofing Supply, Inc		4,967
	539,441		Beijing Enterprises Holdings Ltd		4,238
	2,338,200		Berjaya Corp BHD		287
	1,237,000		BES Engineering Corp		299
	337,310		Besalco S.A.		175
	702,796		Bharat Heavy Electricals		2,647
	351,232		Bidvest Group Ltd		9,501
	101,938	e	Bird Construction Income Fund		759
	102,800		BJC Heavy Industries PCL		101
	210,370	*	Blount International, Inc		2,710
	21,573		Blue Star Ltd		106
	415,160		Bodycote plc		4,409
	2,175,439		Boeing Co		326,490
	568,000		Boer Power Holdings Ltd		848
	314,000	e	Bolina Holding Co Ltd		117
	1,385,620	e	Bombardier, Inc		2,735
	269,253		Boskalis Westminster		13,271
	14,829		Bossard Holding AG.		1,759
	437,481		Bouygues S.A.		17,174
	168,041	e	Bradken Ltd		235
	70,995		Brenntag AG.		4,242
	162,834		Briggs & Stratton Corp		3,345
	6,737		Bucher Industries AG.		1,622
	22,270		Budimex S.A.		957
	126,085	*	Builders FirstSource, Inc		841
	121,000		Bunka Shutter Co Ltd		1,001
	392,248		Bunzl plc		10,634
	50,178		Burckhardt Compression Holding AG.		19,313
	11,374		Burkhalter Holding AG.		1,228
	319,497		Byucksan Corp		1,967
	291,496		CAE, Inc		3,402
	384,179		Caesarstone Sdot-Yam Ltd		23,324
	322,800		Cahya Mata Sarawak BHD		391
	54,835	*	CAI International, Inc		1,347
	941,077	*,e	Capstone Turbine Corp		612
	12,856		Carbone Lorraine		335
	139,969	e	Cardno Ltd		347

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	39,091	e	Cargotec Corp (B Shares)	$	1,352
	904,816	e	Carillion plc		4,379
	127,529		Carlisle Cos, Inc		11,813
	1,419,224		Caterpillar, Inc		113,581
	564,300		CB Industrial Product Holding BHD		310
	13,606		CCL International Ltd		68
	1,208,327		Central Glass Co Ltd		5,703
	23,182		CENTROTEC Sustainable AG.		367
	773,975		CH Karnchang PCL		590
	152,300		Changchai Co Ltd		102
	76,200	e	Changsha Zoomlion Heavy Industry Science and Technology Development Co Ltd		53
	6,051,000	*	Charisma Energy Services Ltd		92
	85,286	*	Chart Industries, Inc		2,991
	13,660	*	Cheil Industries, Inc		1,834
	194,358		Chemring Group plc		600
	550,300	*,m	Chengde Nanjiang Co Ltd		205
	107,043	e	Chicago Bridge & Iron Co NV		5,273
	354,410		Chicony Power Technology Co Ltd		492
	1,281,000	*,e	China Aircraft Leasing Group Holdings Ltd		1,784
	12,200,000	*	China Automation Group Ltd		1,432
	1,463,000	*,e,g	China CNR Corp Ltd		2,102
	13,356,476		China Communications Construction Co Ltd		18,820
	1,327,000	e	China Conch Venture Holdings Ltd		2,836
	2,290,000	*,e	China Dynamics Holdings Ltd		162
	31,000		China Ecotek Corp		76
	1,474,000	*	China Energine International Holdings Ltd		167
	280,950		China Fangda Group Co Ltd		174
	922,000	*,e	China High Speed Transmission Equipment Group Co Ltd		637
	568,005		China International Marine Containers Group Co Ltd		1,238
	823,000		China Lesso Group Holdings Ltd		487
	3,003,000		China Machinery Engineering Corp		3,035
	2,222,863		China Railway Construction Corp		3,314
	12,217,697		China Railway Group Ltd		12,496
	1,846,400	e	China Singyes Solar Technologies Holdings Ltd		2,521
	2,299,952	e	China South Locomotive and Rolling Stock Corp		3,038
	2,116,656		China State Construction International Holdings Ltd		2,947
	1,475,600		Chip Eng Seng Corp Ltd		1,042
	44,939	e	Chiyoda Corp		384
	39,000		Chiyoda Integre Co Ltd		942
	18,494,000		Chongqing Machinery & Electric Co Ltd		3,021
	69,100		Chudenko Corp		1,345
	606,375		Chung Hsin Electric & Machinery Manufacturing Corp		410
	354,162	*	CIR-Compagnie Industriali Riunite S.p.A.		412
	82,927		CIRCOR International, Inc		4,536
	2,475,084	e	Citic Pacific Ltd		4,236
	2,493,000	*,e	Citic Resources Holdings Ltd		347
	185,600		Civmec Ltd		59
	16,140		CJ Corp		2,557
	205,600		CKD Corp		1,922
	136,233		Clarcor, Inc		9,000
	373,553		CNH Industrial NV		3,061

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	226,766		Coastal Contracts BHD	$	178
	557,235		Cobham plc		2,510
	372,834	*	Cofide S.p.A.		206
	229,740	*,e	Colfax Corp		10,965
	64,523		Columbus McKinnon Corp		1,738
	121,654		Comfort Systems USA, Inc		2,560
	66,951	*	Commercial Vehicle Group, Inc		431
	2,314,514		Compagnie de Saint-Gobain		101,624
	7,527		Compagnie d'Entreprises CFE		816
	174,600		COMSYS Holdings Corp		2,154
	91,101	e	Concentric AB		1,216
	837,300		Concepcion Industrial Corp		1,187
	3,920,000	*,e	Concord New Energy Group Ltd		272
	79,552	*	Consolidated Infrastructure Group Ltd		171
	1,765	e	Construcciones y Auxiliar de Ferrocarriles S.A.		587
	97,426	*	Continental Building Products Inc		2,201
	1,157,450		Continental Engineering Corp		414
	1,080,000	e	Cosco Corp Singapore Ltd		396
	22,785		Cosel Co Ltd		255
	195,460		Costain Group plc		913
	87,533	e	Cramo Oyj (Series B)		1,563
	140,474		Crane Co		8,767
	300,000		Crompton Greaves Ltd		797
	504,590		CSBC Corp Taiwan		267
	660,629		CTCI Corp		1,089
	98,580		Cubic Corp		5,103
	469,935	e	Cummins, Inc		65,152
	197,045		Curtiss-Wright Corp		14,570
	30,969		Daelim Industrial Co		1,799
	55,395		Daesang Holdings Co Ltd		1,203
	7,013		Daetwyler Holding AG.		979
	122,207	*	Daewoo Engineering & Construction Co Ltd		871
	50,860		Daewoo International Corp		1,214
	101,258		Daewoo Shipbuilding & Marine Engineering Co Ltd		1,646
	86,600		Daifuku Co Ltd		1,143
	93,641		Daihen Corp		460
	64,000		Daiichi Jitsugyo Co Ltd		321
	199,875		Daikin Industries Ltd		13,362
	23,600		Daiwa Industries Ltd		146
	50,000		Dalian Refrigeration Co Ltd		48
	1,590,361		Danaher Corp		135,022
	12,308		Danieli & Co S.p.A.		306
	93,345		Danieli & Co S.p.A. (RSP)		1,552
	148,210		DCC plc		8,828
	326,532		Decmil Group Ltd		315
	234,142	e	Deere & Co		20,532
	40,100		Denyo Co Ltd		599
	419,532		Deutz AG.		1,764
	3,836,356		Dialog Group BHD		1,633
	256,550	*	DigitalGlobe, Inc		8,741
	9,293		Discount Investment Corp		17
	212,200		DKSH Holdings Malaysia BHD		305

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	4,931,510		DMCI Holdings, Inc	$	1,710
	1,032,809	*	Dogan Sirketler Grubu Holdings		242
	95,951		Donaldson Co, Inc		3,618
	19,100		Dongfang Electric Co Ltd		37
	26,169		Dongkuk Structures & Construction Co Ltd		87
	19,740		Doosan Corp		2,070
	21,971	*	Doosan Engine Co Ltd		136
	58,601		Doosan Heavy Industries and Construction Co Ltd		1,491
	138,197	*	Doosan Infracore Co Ltd		1,479
	59,749		Douglas Dynamics, Inc		1,365
	84,058		Dover Corp		5,810
	33,779	*	Ducommun, Inc		875
	94,775		Duerr AG.		10,408
	85,041		Duro Felguera S.A.		335
	52,569	*	DXP Enterprises, Inc		2,318
	174,217	*	Dycom Industries, Inc		8,509
	52,714		Dynamic Materials Corp		673
	2,122,000		Dynasty Ceramic PCL		411
	1,769,605		Eaton Corp		120,227
	704,828	e	Ebara Corp		2,967
	930,900		EEI Corp		208
	122,448		Eiffage S.A.		7,288
	58,469		Elbit Systems Ltd		4,206
	3,339		Electra Israel Ltd		391
	58,000	*	ElSwedy Cables Holding Co		366
	218,244		EMCOR Group, Inc		10,142
	852,632		Emerson Electric Co		48,276
	740,684		Empresa Brasileira de Aeronautica S.A.		5,697
	594,000	*,e	Empresas ICA Sociedad Controladora S.A. de C.V.		484
	66,984		Encore Wire Corp		2,537
	132,117	*,e	Energy Recovery, Inc		342
	142,733		EnerSys		9,169
	59,832		Engility Holdings, Inc		1,797
	178,379		Engineers India Ltd		551
	486,127		Enka Insaat ve Sanayi AS		971
	64,466	*,e	Enphase Energy, Inc		850
	63,748		EnPro Industries, Inc		4,204
	542,000	e	Enric Energy Equipment Holdings Ltd		530
	23,651	*,e	Erickson Air-Crane, Inc		102
	92,340		ESCO Technologies, Inc		3,599
	106,489	*	Esterline Technologies Corp		12,184
	694,132		European Aeronautic Defence and Space Co		45,126
	3,298,000		EVA Precision Industrial Holdings Ltd		991
	162,661		Exelis, Inc		3,964
	23,881	*,e	FACC AG.		183
	8,853		Faiveley S.A.		522
	180,041		Fanuc Ltd		39,305
	672,000		Far East Global Group Ltd		106
	6,764,184		Far Eastern Textile Co Ltd		6,972
	650,892	e	Fastenal Co		26,970
	7,320,000	*,e	FDG Electric Vehicles Ltd		444
	238,425		Federal Signal Corp		3,765

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	192,074		Fenner plc	$	571
	2,104,392		Ferreyros S.A.		958
	403,225		Ferrovial S.A.		8,573
	544,047	*,e	Fincantieri S.p.A		477
	785,706	*	Finmeccanica S.p.A.		9,333
	349,082		Finning International, Inc		6,494
	139,765		Finolex Cables Ltd		637
	424,000	e	First Tractor Co		304
	226,476		Flowserve Corp		12,794
	49,373	e	FLSmidth & Co AS		2,219
	191,937		Fluor Corp		10,971
	132,404	*,e	Fomento de Construcciones y Contratas S.A.		1,612
	912,295		Fortune Brands Home & Security, Inc		43,316
	198,100		Foshan Electrical and Lighting Co Ltd		199
	130,441		Franklin Electric Co, Inc		4,975
	40,836		Freightcar America, Inc		1,283
	46,091	*	Frigoglass S.A.		79
	162,700		Fudo Tetra Corp		322
	687,898	*,e	FuelCell Energy, Inc		860
	938,438		Fuji Electric Holdings Co Ltd		4,428
	87,992		Fuji Machine Manufacturing Co Ltd		999
	840,978		Fujikura Ltd		3,681
	69,200		Fujitec Co Ltd		676
	111,000		Fukuda Corp		710
	40,600		Fukushima Industries Corp		603
	100,611	*,e	Furmanite Corp		794
	279,000		Furukawa Co Ltd		491
	1,005,000	e	Furukawa Electric Co Ltd		1,694
	199,119		Futaba Corp/Chiba		3,201
	221,579		Galliford Try plc		4,672
	241,165	*	Gamesa Corp Tecnologica S.A.		3,037
	2,079,051		Gamuda BHD		2,863
	88,662		GATX Corp		5,141
	42,976		GEA Group AG.		2,066
	29,888		Geberit AG.		11,185
	13,300		Gecoss Corp		143
	183,960	*	GEK Group of Cos S.A.		342
	161,985	*,e	GenCorp, Inc		3,756
	184,068	e	Generac Holdings, Inc		8,962
	165,467		General Cable Corp		2,851
	1,531,681		General Dynamics Corp		207,895
	29,664,569		General Electric Co		735,978
	30,690	*,e	General Finance Corp		248
	4,359		Georg Fischer AG.		2,977
	2,664		Gesco AG.		219
	111,724	*	Gibraltar Industries, Inc		1,833
	9,200	*	Giken Seisakusho Co, Inc		176
	66,975		Gildemeister AG.		2,203
	56,863		Global Brass & Copper Holdings, Inc		879
	57,197		Global Power Equipment Group, Inc		755
	150,056		Glory Ltd		4,179
	1,242,083		GMR Infrastructure Ltd		330

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	50,568		Gorman-Rupp Co	$	1,515
	78,568		Graco, Inc		5,669
	406,261	*	GrafTech International Ltd		1,580
	519,975		Grafton Group plc		6,250
	27,488	e	Graham Corp		659
	131,672		Granite Construction, Inc		4,627
	197,565	*	Great Lakes Dredge & Dock Corp		1,187
	68,627		Greaves Cotton Ltd		160
	75,401	e	Greenbrier Cos, Inc		4,373
	134,053		Griffon Corp		2,337
	74,410	*	Grontmij (ADR)		300
	236,934		Group Five Ltd		491
	967,161		Grupo Carso S.A. de C.V. (Series A1)		4,019
	53,574	*	GS Engineering & Construction Corp		1,454
	357,000	e	GS Yuasa Corp		1,607
	315,600		Gunkul Engineering PCL		325
	3,115,000	e	Guodian Technology & Environment Group Corp Ltd		418
	240,130	e	GWA International Ltd		473
	85,363		H&E Equipment Services, Inc		2,133
	845,360		Haitian International Holdings Ltd		1,941
	128,798		Haldex AB		1,942
	247,793	*	Halim Co Ltd		1,257
	15,187	*	Halla Engineering & Construction Corp		83
	549,730		Hangzhou Steam Turbine Co		623
	60,434	*	Hanjin Heavy Industries & Construction Co Ltd		314
	2,063,395		Hanwa Co Ltd		8,369
	2,232,000		Harbin Power Equipment		1,386
	23,200	e	Harmonic Drive Systems, Inc		511
	378,427		Harsco Corp		6,532
	353,902		Havells India Ltd		1,728
	520,900		Hazama Ando Corp		2,976
	475,934	*	HD Supply Holdings, Inc		14,828
	187,041		Heico Corp		11,423
	267,110	*,e	Heidelberger Druckmaschinen		713
	243,593	*	Hellenic Technodomiki Tev S.A.		464
	299,017		HellermannTyton Group plc		1,483
	70,850	e	Hexagon Composites ASA		220
	67,847		Hexcel Corp		3,489
	16,300		Hibiya Engineering Ltd		215
	217,495		Hillenbrand, Inc		6,714
	725,089		Hino Motors Ltd		10,317
	14,700		Hisaka Works Ltd		128
	95,791	e	Hitachi Construction Machinery Co Ltd		1,672
	113,000		Hitachi Koki Co Ltd		919
	187,800		Hitachi Zosen Corp		968
	200,559		Hiwin Technologies Corp		1,481
	3,799,000	*,e	HKC Holdings Ltd		125
	4,475		Hochtief AG.		339
	637,635		Hock Seng Lee BHD		312
	13,959		Homag Group AG.		539
	5,393,136		Honeywell International, Inc		562,558
	173,000		Hong Leong Asia Ltd		166

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,105,058		Hopewell Holdings	$	4,147
	40,300		Hoshizaki Electric Co Ltd		2,617
	59,700		Hosken Consolidated Investments Ltd		712
	85,000		Hosokawa Micron Corp		442
	63,608		Houston Wire & Cable Co		619
	2,171,000	e	Hsin Chong Construction Group Ltd		244
	421,000		HUA ENG Wire & Cable		134
	195,920		Hubbell, Inc (Class B)		21,477
	26,054		Huber & Suhner AG.		1,225
	56,722		Hudaco Industries Ltd		529
	355,517		Huntington Ingalls		49,826
	21,437		Hurco Cos, Inc		706
	2,866,961		Hutchison Whampoa Ltd		39,739
	5,633		Hy-Lok Corp		144
	27,045		Hyster-Yale Materials Handling, Inc		1,982
	50,186		Hyundai Corp		1,231
	63,678		Hyundai Development Co		3,264
	5,719	*	Hyundai Elevator Co Ltd		400
	201,675		Hyundai Engineering & Construction Co Ltd		9,131
	40,731		Hyundai Heavy Industries		4,472
	10,905		Hyundai Mipo Dockyard		748
	65,700		Idec Corp		573
	110,917		IDEX Corp		8,411
	182,203	*	II-VI, Inc		3,363
	3,333,007		IJM Corp BHD		6,475
	503,722		Illinois Tool Works, Inc		48,932
	58,458		IMARKETKOREA, Inc		1,347
	88,997		IMI plc		1,679
	15,042		Implenia AG.		986
	1,099,193	*	Impregilo S.p.A.		4,733
	32,804		IMS-Intl Metal Service		686
	66,010		Inaba Denki Sangyo Co Ltd		2,390
	110,184		Inabata & Co Ltd		1,098
	64,385		Indus Holding AG.		3,202
	41,044		Industria Macchine Automatiche S.p.A.		1,931
	154,695		Industries Qatar QSC		5,896
	32,340		Indutrade AB		1,480
	1,372,808		Ingersoll-Rand plc		93,461
	64,097		Insteel Industries, Inc		1,386
	5,035,000	*	Interchina Holdings Co		179
	74,808		Interpump Group S.p.A.		1,217
	299,728		Interserve plc		2,572
	89,990	e	Invicta Holdings Ltd		540
	67,800		Iochpe-Maxion S.A.		214
	809,716		IRB Infrastructure Developers Ltd		3,162
	7,827		IS Dongseo Co Ltd		517
	182,000	e	Iseki & Co Ltd		348
	295,000		I-Sheng Electric Wire & Cable Co Ltd		432
	4,024,301		Ishikawajima-Harima Heavy Industries Co Ltd		18,817
	1,774,350	*	Italian-Thai Development PCL		390
	2,021,233		Itochu Corp		21,874
	358,132		ITT Corp		14,293

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	64,128	*	IVRCL Infrastructures & Projects Ltd	$	16
	176,000	e	Iwatani International Corp		1,153
	56,618	*	Jacobs Engineering Group, Inc		2,557
	265,694		Jain Irrigation Systems Ltd		262
	1,059,251		Jaiprakash Associates Ltd		421
	10,000		Jamco Corp		305
	65,604		Japan Pulp & Paper Co Ltd		177
	347,000		Japan Steel Works Ltd		1,459
	4,166,366		JG Summit Holdings (Series B)		6,758
	112,481		JGC Corp		2,234
	5,630,000	e	Jiangnan Group Ltd		1,213
	3,591,500	*,e	Jiangsu Rongsheng Heavy Industry Group Co Ltd		313
	744,000		Jingwei Textile Machinery		994
	126,429		John Bean Technologies Corp		4,516
	800,153		John Keells Holdings plc		1,197
	436,875		Johnson Electric Holdings Ltd		1,533
	235,920		Joy Global, Inc		9,243
	848,591		JTEKT Corp		13,231
	145,000		Juki Corp		473
	15,975		Jungheinrich AG.		1,027
	2,363	*	JVM Co Ltd		137
	36,023		Kadant, Inc		1,895
	45,383		Kajaria Ceramics Ltd		585
	201,724		Kajima Corp		935
	85,161		Kaman Corp		3,613
	30,600		Kamei Corp		223
	32,700		Kanamoto Co Ltd		941
	491,000		Kandenko Co Ltd		2,848
	1,223,000		Kanematsu Corp		1,778
	22,500		Katakura Industries Co Ltd		230
	50,000		Kato Works Co Ltd		338
	2,281,771		Kawasaki Heavy Industries Ltd		11,512
	98,625		KBR, Inc		1,428
	5,670		KCC Corp		2,888
	52,231	e	KCI Konecranes Oyj		1,646
	418,146		Keihan Electric Railway Co Ltd		2,545
	72,506		Keller Group plc		1,017
	10,712		Kendrion NV		334
	685,766		Kennametal, Inc		23,103
	20,800		Kepler Weber S.A.		181
	2,677,707		Keppel Corp Ltd		17,544
	112,264	*,e	KEYW Holding Corp		924
	118,492		Kier Group plc		2,787
	435,000		Kinden Corp		5,433
	147,000		King Slide Works Co Ltd		2,214
	151,896		Kingspan Group plc		2,878
	102,000		Kinik Co		217
	21,000		Kinki Sharyo Co Ltd		68
	113,082		KION Group AG.		4,623
	420,800		Kitz Corp		2,074
	98,294	*	Kloeckner & Co AG.		936
	71,786	*	KLX, Inc		2,767

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,454,757		KOC Holding AS	$	11,166
	1,096,736		Komatsu Ltd		21,499
	9,030		Komax Holding AG.		1,571
	164,990		Komori Corp		2,099
	250,935		Kone Oyj (Class B)		11,127
	231,026	e	Koninklijke BAM Groep NV		1,029
	1,255,465		Koninklijke Philips Electronics NV		35,617
	86,089		Kopex S.A.		234
	47,901		Korea Aerospace Industries Ltd		2,433
	15,733		Korea Electric Terminal Co Ltd		980
	158,899	*,e	Kratos Defense & Security Solutions, Inc		879
	41,062		Krones AG.		4,263
	903,858		Kubota Corp		14,280
	107,796	e	KUKA AG.		8,260
	289,000	*	Kumagai Gumi Co Ltd		901
	14,701	*	Kumho Industrial Co Ltd		292
	163,000		Kuo Toong International Co Ltd		296
	101,598		Kurita Water Industries Ltd		2,455
	120,479		Kuroda Electric Co Ltd		1,925
	105,800		Kyokuto Kaihatsu Kogyo Co Ltd		1,198
	291,600		Kyowa Exeo Corp		3,127
	93,000		Kyudenko Corp		1,016
	4,213		Kyung Dong Navien Co Ltd		106
	236,221		L-3 Communications Holdings, Inc		29,714
	2,565		Lakshmi Machine Works Ltd		157
	617,695		Larsen & Toubro Ltd		16,971
	73,030	*,e	Layne Christensen Co		366
	49,842		LB Foster Co (Class A)		2,367
	68,215		Legrand S.A.		3,695
	308,632		Leighton Holdings Ltd		4,945
	247,312	e	Lennox International, Inc		27,622
	152,604		LG Corp		8,423
	40,473		LG Hausys Ltd		6,285
	153,882		LG International Corp		5,214
	76,752		Lincoln Electric Holdings, Inc		5,019
	59,725	*	Lindab International AB		508
	34,933	e	Lindsay Manufacturing Co		2,664
	15,812		LISI		430
	260,765		LIXIL Group Corp		6,171
	40,478	*,e	LMI Aerospace, Inc		494
	916,530		Lockheed Martin Corp		186,019
	5,516,000		Lonking Holdings Ltd		1,126
	72,414		LS Cable Ltd		3,387
	14,372		LS Industrial Systems Co Ltd		826
	80,919		LSI Industries, Inc		659
	208,000	*	Luoyang Glass Co Ltd		112
	49,754	*	Lydall, Inc		1,578
	29,461		Mabuchi Motor Co Ltd		1,559
	591,919		MACA Ltd		394
	41,380		MacDonald Dettwiler & Associates Ltd		3,207
	123,000	e	Maeda Corp		892
	16,900	e	Maeda Kosen Co Ltd		147

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	63,000		Maeda Road Construction Co Ltd	$	1,021
	32,938		Magellan Aerospace Corp		348
	97,298	*,e	Maire Tecnimont S.p.A		270
	300,748		Makino Milling Machine Co Ltd		2,550
	51,607	e	Makita Corp		2,674
	22,100		Malaysia Marine and Heavy Engineering Sdn BHD		7
	1,531,700		Malaysian Resources Corp BHD		516
	12,510		MAN AG.		1,317
	34,908	*,e	Manitex International, Inc		340
	10,596		Manitou BF S.A.		176
	106,451	e	Manitowoc Co, Inc		2,295
	747,900		Marcopolo S.A.		541
	1,988,059	e	Marubeni Corp		11,494
	3,257,454		Masco Corp		86,974
	98,889	*	Masonite International Corp		6,651
	175,005	*	Mastec, Inc		3,378
	32,000		Max Co Ltd		377
	611,126		Meggitt plc		4,968
	176,000		Meidensha Corp		567
	1,179,290		Melrose Industries plc		4,843
	71,115		Metka S.A.		664
	27,056	e	Metso Oyj		790
	93,239	*,e	Meyer Burger Technology AG.		590
	71,003		Micron Machinery Co Ltd		2,361
	168,579	*	Middleby Corp		17,305
	37,264		Miller Industries, Inc		913
	83,400		Mills Estruturas e Servicos de		207
	657,000		Minebea Co Ltd		10,334
	550,300		Miraito Holdings Corp		6,157
	87,900		MISUMI Group, Inc		3,542
	1,918,494		Mitsubishi Corp		38,550
	2,518,757		Mitsubishi Electric Corp		29,901
	5,022,952		Mitsubishi Heavy Industries Ltd		27,638
	27,600		Mitsubishi Nichiyu Forklift Co Ltd		156
	105,700		Mitsuboshi Belting Co Ltd		848
	2,221,564		Mitsui & Co Ltd		29,752
	917,900		Mitsui Engineering & Shipbuilding Co Ltd		1,565
	76,300		Miura Co Ltd		859
	3,468,130		MMC Corp BHD		2,369
	370,657	e	Monadelphous Group Ltd		2,809
	79,700	e	MonotaRO Co Ltd		2,887
	155,876	*	Moog, Inc (Class A)		11,698
	339,926		Morgan Crucible Co plc		1,717
	114,200		Mori Seiki Co Ltd		1,750
	32,700		Morita Holdings Corp		307
	579,821	e	Mota Engil SGPS S.A.		2,141
	117,136	*	Mota-Engil Africa NV		982
	317,679	*,e	MRC Global, Inc		3,765
	113,584		MSC Industrial Direct Co (Class A)		8,201
	63,191		MTU Aero Engines Holding AG.		6,191
	769,166		Mudajaya Group BHD		301
	204,225		Mueller Industries, Inc		7,379

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	786,490		Mueller Water Products, Inc (Class A)	$	7,747
	998,300		Muhibbah Engineering M BHD		592
	1,166,900		Murray & Roberts Holdings Ltd		1,317
	70,610	*	MYR Group, Inc		2,213
	65,827		Nabtesco Corp		1,902
	164,332		Nachi-Fujikoshi Corp		900
	961,291		Nagarjuna Construction Co		1,723
	281,200		Nagase & Co Ltd		3,676
	40,000		Nak Sealing Technologies Corp		131
	202,900		Namura Shipbuilding Co Ltd		1,913
	337,948		National Central Cooling Co PJSC		99
	15,656	e	National Presto Industries, Inc		992
	247,216	*,e	Navistar International Corp		7,293
	16,728		NCC AB		553
	299,490		NCC AB (B Shares)		9,910
	77,332	*	NCI Building Systems, Inc		1,336
	31,300		NEC Capital Solutions Ltd		498
	18,048	*	Neff Corp		190
	96,000	e	New Flyer Industries, Inc		1,067
	29,953	*,e	Nexans S.A.		1,013
	487,954		NGK Insulators Ltd		10,397
	85,550		Nibe Industrier AB (Series B)		2,127
	117,000	e	Nichias Corp		675
	12,400		Nichiden Corp		279
	89,900		Nichiha Corp		1,052
	99,225		Nidec Corp		6,587
	4,000	e	Nihon Trim Co Ltd		104
	170,000		Nippo Corp		2,802
	35,800		Nippon Densetsu Kogyo Co Ltd		533
	236,000		Nippon Koei Co Ltd		941
	253,000		Nippon Road Co Ltd		1,268
	328,730	e	Nippon Sharyo Ltd		940
	914,000	*	Nippon Sheet Glass Co Ltd		896
	232,450		Nippon Steel Trading Co Ltd		803
	60,000		Nippon Thompson Co Ltd		296
	866,000	e	Nishimatsu Construction Co Ltd		3,066
	31,600		Nishio Rent All Co Ltd		909
	445,000		Nisshinbo Industries, Inc		4,270
	55,000		Nissin Electric Co Ltd		330
	46,600		Nitta Corp		1,268
	149,000	*	Nitto Boseki Co Ltd		578
	82,947		Nitto Kogyo Corp		1,541
	10,073		Nitto Kohki Co Ltd		181
	24,277		NKT Holding AS		1,554
	48,682	e	NN, Inc		1,221
	15,903,871	e	Noble Group Ltd		10,653
	37,828	*	Norcraft Cos, Inc		967
	166,741	*	Nordex AG.		3,366
	161,915		Nordson Corp		12,684
	303,919		Noritake Co Ltd		714
	28,600		Noritz Corp		469
	75,707		NORMA Group		3,801

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	23,744	*	Nortek, Inc	$	2,095
	905,241		Northrop Grumman Corp		145,708
	32,171	*	Northwest Pipe Co		738
	54,785	*,e	NOW, Inc		1,186
	534,954		NSK Ltd		7,808
	1,000,000		NTN Corp		5,289
	2,305,185		NWS Holdings Ltd		3,840
	12,500	e	Obara Corp		706
	373,754		Obayashi Corp		2,423
	40,908	e	Obrascon Huarte Lain S.A.		871
	189,260		OC Oerlikon Corp AG.		2,193
	5,616		OHB AG.		128
	136,500		Oiles Corp		2,663
	38,500		Okabe Co Ltd		355
	137,641		Okuma Holdings, Inc		1,276
	163,000		Okumura Corp		762
	8,639	e	Omega Flex, Inc		217
	10,700	e	Onoken Co Ltd		93
	60,423	*	Orascom Construction Ltd		804
	47,255		Orbital ATK, Inc		3,621
	28,000		Organo Corp		125
	92,600	*	Orion Marine Group, Inc		820
	73,100		OSG Corp		1,422
	1,129,579	e	Oshkosh Truck Corp		55,112
	84,900	e	OSJB Holdings Corp		177
	83,872		Osram Licht AG.		4,152
	168,157	e	Outotec Oyj		1,029
	3,776,298		Owens Corning, Inc		163,891
	1,241,437		Paccar, Inc		78,384
	12,494		Palfinger AG.		330
	337,873		Pall Corp		33,919
	67,211		Parker Hannifin Corp		7,983
	21,319	*	Patrick Industries, Inc		1,328
	171,738	e	Peab AB (Series B)		1,354
	50,288		Pentair plc		3,163
	279,200	e	Penta-Ocean Construction Co Ltd		1,019
	4,916		PER Aarsleff A.S.		1,362
	124,192	*	Perini Corp		2,900
	10,238		Pfeiffer Vacuum Technology AG.		870
	247,813	*,e	Pgt, Inc		2,769
	13,381		Pinguely-Haulotte		222
	22,932		Pkc Group Oyj		509
	3,582		Plasson		121
	564,493	*,e	Plug Power, Inc		1,462
	61,548	*	Ply Gem Holdings, Inc		800
	396,700		Polyplex PCL		118
	120,779	*	Polypore International, Inc		7,114
	123,500		Portobello S.A.		143
	32,363		Powell Industries, Inc		1,093
	13,138	*,e	Power Solutions International, Inc		845
	75,501	*,e	PowerSecure International, Inc		994
	180,354		Precision Castparts Corp		37,874

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,938	e	Preformed Line Products Co	$	419
	100,722		Primoris Services Corp		1,731
	595,354	*,e	Promotora y Operadora de Infraestructura SAB de C.V.		6,351
	122,135	*,e	Proto Labs, Inc		8,549
	48,217		Prysmian S.p.A.		994
	9,050,000		PT Adhi Karya Persero Tbk		2,110
	7,236,600		PT Arwana Citramulia Tbk		448
	2,803,600	*,m	PT Inovisi Infracom Tbk		25
	1,990,000		PT Pembangunan Perumahan Tbk		576
	10,998,400		PT Surya Semesta Internusa Tbk		957
	4,063,100		PT Total Bangun Persada Tbk		311
	3,929,261		PT United Tractors Tbk		6,539
	23,348,500		PT Waskita Karya Persero Tbk		3,171
	1,953,100		PT Wijaya Karya		521
	637,001		QinetiQ plc		1,802
	142,844		Quanex Building Products Corp		2,820
	118,432	*	Quanta Services, Inc		3,379
	2,813		R Stahl AG.		133
	78,300		Raito Kogyo Co Ltd		640
	171,993	e	Ramirent Oyj		1,219
	182,400		Randon Participacoes S.A.		187
	3,391		Rational AG.		1,133
	235,513		Raubex Group Ltd		351
	95,309	e	Raven Industries, Inc		1,950
	331,536		Raytheon Co		36,220
	60,660		RBC Bearings, Inc		4,643
	302,121		RCR Tomlinson Ltd		459
	1,035,917		Rechi Precision Co Ltd		1,028
	98,611		Regal-Beloit Corp		7,881
	575,002		Reunert Ltd		2,845
	110,805	*,e	Revolution Lighting Technologies, Inc		123
	2,908,587		Rexel S.A.		54,844
	270,569	*	Rexnord Corp		7,221
	40,159		Rheinmetall AG.		1,932
	480,583		Rich Development Co Ltd		206
	3,477		Rieter Holding AG.		552
	245,441		Rockwell Automation, Inc		28,469
	1,581,700		Rockwell Collins, Inc		152,713
	7,144	e	Rockwool International AS (B Shares)		833
	2,464,734		Rolls-Royce Group plc		34,762
	774,390		Roper Industries, Inc		133,195
	243,000		Rotary Engineering Ltd		96
	88,065		Rotork plc		3,229
	88,460	*,e	Royal Imtech NV		509
	168,000		Ruentex Engineering & Construction Co		380
	94,931	*	Rush Enterprises, Inc (Class A)		2,597
	228,327		Russel Metals, Inc		4,334
	977,000		Ryobi Ltd		2,868
	18,667		S&T Dynamics Co Ltd		199
	64,431		Saab AB (Class B)		1,723
	329,725	*,e	Sacyr Vallehermoso S.A.		1,384
	133,083		Sadbhav Engineering Ltd		708

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	919,972		Safran S.A.	$	64,280
	71,587		Saft Groupe S.A.		2,616
	699,338		Salfacorp S.A.		527
	5,835		Sam Yung Trading Co Ltd		125
	54,296		Sammok S-Form Co Ltd		1,987
	244,124		Samsung Corp		13,051
	30,164	*	Samsung Engineering Co Ltd		1,045
	160,440		Samsung Heavy Industries Co Ltd		2,605
	37,945		Samsung Techwin Co Ltd		808
	22,050		San Miguel Corp		33
	2,206	*	San Miguel Corp (New)		5
	53,203		San Shing Fastech Corp		135
	1,074,209		Sandvik AB		12,029
	46,400		Sanki Engineering Co Ltd		359
	26,400		Sankyo Tateyama, Inc		510
	352,700		Sanwa Shutter Corp		2,616
	773,000	*,e	Sany Heavy Equipment International		176
	153,000		Sanyo Denki Co Ltd		1,089
	38,421		Schindler Holding AG.		6,376
	19,249		Schindler Holding AG. (Registered)		3,145
	364,561		Schneider Electric S.A.		28,370
	921		Schweiter Technologies AG.		790
	101,132	e	Seibu Holdings, Inc		2,612
	130,400		Sekisui Jushi Corp		1,736
	1,227,901		SembCorp Industries Ltd		3,770
	1,870,503	e	SembCorp Marine Ltd		3,970
	23,315		Semperit AG. Holding		1,096
	580,033		Senior plc		2,793
	1,495	*	Sensata Technologies Holding BV		86
	16,822	*	SFS Group AG.		1,251
	273,842	*,e	SGL Carbon AG.		4,447
	210,708	*	SGSB Group Co Ltd		163
	278,380		Shanghai Diesel Engine Co Ltd		219
	8,855,304	e	Shanghai Electric Group Co Ltd		5,871
	372,900		Shanghai Erfangji Co Ltd		286
	765,500		Shanghai Highly Group Co Ltd		499
	2,017,695		Shanghai Industrial Holdings Ltd		6,220
	616,901		Shanghai Mechanical and Electrical Industry Co Ltd		1,529
	13,200		Shibuya Kogyo Co Ltd		255
	516,000		Shihlin Electric & Engineering Corp		658
	245,661		Shikun & Binui Ltd		544
	154,100		Shima Seiki Manufacturing Ltd		2,624
	743,851		Shimizu Corp		5,029
	504,000		Shin Zu Shing Co Ltd		1,327
	266,590		Shinmaywa Industries Ltd		2,826
	20,700		SHO-BOND Holdings Co Ltd		910
	10,000		Showa Aircraft Industry Co Ltd		98
	709,763		Siam Future Development PCL		151
	1,211,435		Siemens AG.		131,022
	76,437		Siemens India Ltd		1,709
	9,066		SIFCO Industries, Inc		198
	600,335		SIG plc		1,802

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,858,219		Sime Darby BHD	$	9,657
	238,150		Simpson Manufacturing Co, Inc		8,900
	1,522,000		Singamas Container Holdings Ltd		248
	1,334,487		Singapore Technologies Engineering Ltd		3,384
	856,357		Sino Thai Engineering & Construction PCL		560
	3,664,287		Sinopec Engineering Group Co Ltd		3,174
	1,838,000	e	Sinotruk Hong Kong Ltd		1,098
	818,134		Sintex Industries Ltd		1,579
	41,100		Sintokogio Ltd		317
	24,386		SK Corp		3,731
	130,850		SK Networks Co Ltd		960
	967,730	e	Skanska AB (B Shares)		21,696
	1,063,277	e	SKF AB (B Shares)		27,455
	20,767		SKF India Ltd		468
	11,268	*	SLM Solutions Group AG.		219
	210,531		SM Investments Corp		4,234
	31,792		SMC Corp		9,467
	118,237		Smiths Group plc		1,956
	277,733		Snap-On, Inc		40,843
	228,133		SNC-Lavalin Group, Inc		7,084
	284,016	*	SOCAM Development Ltd		250
	41,700	e	Sodick Co Ltd		454
	3,584,400		Sojitz Holdings Corp		5,992
	6,344		Solar Holdings AS (B Shares)		289
	93,505	*,e	SolarCity Corp		4,795
	26,579	*	Sparton Corp		651
	824,487		Speedy Hire plc		874
	183,462		Spirax-Sarco Engineering plc		9,277
	283,088	*	Spirit Aerosystems Holdings, Inc (Class A)		14,780
	520,128		SPX Corp		44,159
	114,400	*	Sriracha Construction PCL		109
	65,053		Standex International Corp		5,343
	336,104		Stanley Works		32,051
	37,500		Star Micronics Co Ltd		526
	67,498	*	Sterling Construction Co, Inc		305
	41,770	*	Stock Building Supply Holdings, Inc		754
	384,120		STP & I PCL		185
	564,000	*,e	STX OSV Holdings Ltd		193
	6,704	*	Sulzer AG.		736
	1,582,568		Sumitomo Corp		16,888
	16,100		Sumitomo Densetsu Co Ltd		183
	848,625		Sumitomo Electric Industries Ltd		11,124
	7,524,537		Sumitomo Heavy Industries Ltd		49,243
	750,600	e	Sumitomo Mitsui Construction C		1,035
	60,968		Sun Hydraulics Corp		2,522
	16,459		Sung Kwang Bend Co Ltd		201
	433,000		Sunspring Metal Corp		866
	1,062,422	*	Suzlon Energy Ltd		464
	249,000	*,e	SWCC Showa Holdings Co Ltd		192
	354,000		Syncmold Enterprise Corp		800
	167,000		Tadano Ltd		2,242
	8,557	*	Taewoong Co Ltd		129

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,175	*	Taeyoung Engineering & Construction	$	148
	98,102	*,m	Taihan Electric Wire Co Ltd		53
	66,000		Taihei Dengyo Kaisha Ltd		476
	116,000		Taihei Kogyo Co Ltd		548
	28,200		Taikisha Ltd		702
	2,290,121	e	Taisei Corp		12,926
	727,316		Taiwan Glass Industrial Corp		524
	30,400		Takaoka Toko Holdings Co Ltd		413
	82,929		Takara Standard Co Ltd		701
	144,300		Takasago Thermal Engineering Co Ltd		1,801
	10,700		Takeuchi Manufacturing Co Ltd		484
	66,000		Takuma Co Ltd		517
	103,909	e	TAL International Group, Inc		4,232
	18,619		Tarkett S.A.		421
	385,445	*,e	Taser International, Inc		9,293
	271,000		Tat Hong Holdings Ltd		132
	38,400		Tatsuta Electric Wire and Cable Co Ltd		162
	359,800	*	Tebrau Teguh BHD		121
	1,125,600	*,e	Tech Pro Technology Development Ltd		909
	4,725,443		Teco Electric and Machinery Co Ltd		4,491
	17,600		Teikoku Sen-I Co Ltd		255
	116,719		Tekfen Holding AS		211
	302,000	e	Tekken Corp		1,039
	143,000	*	Teledyne Technologies, Inc		15,262
	90,292		Tennant Co		5,902
	1,912,516		Terex Corp		50,854
	207,548	e	Textainer Group Holdings Ltd		6,224
	2,834,647		Textron, Inc		125,660
	447,517		Thales S.A.		24,829
	29,256	*,e	The ExOne Company		399
	46,584		Thermax Ltd		795
	152,453	*	Thermon Group Holdings		3,670
	260,392		THK Co Ltd		6,617
	882,712		Timken Co		37,197
	155,791	e	Titan International, Inc		1,458
	57,013	*,e	Titan Machinery, Inc		761
	12,325	*	TK Corp		115
	120,376		TKH Group NV		4,267
	603,000		Toa Corp/Tokyo		1,002
	11,300		Tocalo Co Ltd		212
	198,000		Toda Corp		835
	70,000		Toenec Corp		337
	225,700		Tokai Corp		979
	175,460		Tokyu Construction Co Ltd		991
	695,788		Tong-Tai Machine & Tool Co Ltd		745
	14,500	e	Torishima Pump Manufacturing Co Ltd		107
	53,891		Toro Co		3,779
	188,247	e	Toromont Industries Ltd		4,866
	13,239,450		Toshiba Corp		55,474
	106,964		Toshiba Machine Co Ltd		450
	38,600		Toshiba Plant Systems & Services Corp		532
	23,300		Totetsu Kogyo Co Ltd		520

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	105,677		Toto Ltd	$	1,569
	284,100	e	Toyo Construction Co Ltd		1,110
	132,000	e	Toyo Engineering Corp		344
	9,100		Toyo Tanso Co Ltd		169
	348,753		Toyota Tsusho Corp		9,227
	200,400		Toyo-Thai Corp PCL		163
	232,698		Trakya Cam Sanayi AS		264
	273,693		TransDigm Group, Inc		59,862
	1,756,619		Travis Perkins plc		50,719
	265,301		Trelleborg AB (B Shares)		5,248
	76,639	e	Trevi Finanziaria S.p.A.		237
	90,931	*	Trex Co, Inc		4,958
	194,838	*	Trimas Corp		5,999
	854,532		Trinity Industries, Inc		30,344
	80,113		Triumph Group, Inc		4,784
	49,262		Trusco Nakayama Corp		1,542
	317,000		Tsubakimoto Chain Co		2,640
	62,000		Tsugami Corp		397
	21,800		Tsukishima Kikai Co Ltd		224
	14,500		Tsurumi Manufacturing Co Ltd		206
	2,553,776		Turk Sise ve Cam Fabrikalari AS		3,150
	23,690		Twin Disc, Inc		419
	70,788		Ultra Electronics Holdings		1,788
	9,900		Union Tool Co		283
	438,100		United Engineers Ltd		872
	165,667	e	United Group Ltd		183
	734,000		United Integrated Services Co Ltd		778
	344,915	*	United Rentals, Inc		31,442
	931,534		United Technologies Corp		109,176
	84,638		Universal Forest Products, Inc		4,696
	55,703	e	Uponor Oyj		941
	3,468,475	*,e	USG Corp		92,608
	1,108,400		Ushio, Inc		13,739
	89,909		Vallourec		2,194
	423,408	e	Valmet Corp		5,078
	57,015	e	Valmont Industries, Inc		7,006
	90,683	*	Vectrus, Inc		2,312
	17,272	*,e	Veritiv Corp		762
	578,883	*,e	Vestas Wind Systems AS		23,868
	2,095,884		Vesuvius plc		15,232
	58,577	*	Vicor Corp		890
	1,121,291		Vinci S.A.		64,064
	68,960		Voltas Ltd		309
	36,000		Voltronic Power Technology Corp		356
	7,198,551	e	Volvo AB (B Shares)		87,118
	76,605	*	Von Roll Holding AG.		84
	9,679	e	Vossloh AG.		592
	139,758	e	W.W. Grainger, Inc		32,956
	186,199	*	Wabash National Corp		2,625
	426,375	*	WABCO Holdings, Inc		52,393
	74,812		Wacker Construction Equipment AG.		1,867
	17,983	e	Wajax Income Fund		343

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	111,100		Wakita & Co Ltd	$	1,079
	3,519,250	*	Walsin Lihwa Corp		1,082
	2,601	e	Walter Meier AG.		116
	86,355		Wartsila Oyj (B Shares)		3,820
	107,410		Watsco, Inc		13,501
	96,219		Watts Water Technologies, Inc (Class A)		5,295
	969,579		WCT Berhad		403
	291,812		Weg S.A.		2,908
	560,434	e	Weichai Power Co Ltd		2,161
	343,942		Weir Group plc		8,679
	779,487	*,e	WESCO International, Inc		54,478
	465,558		Westinghouse Air Brake Technologies Corp		44,233
	47,609	*,e	Westport Innovations, Inc		187
	4,548,898	e	Wienerberger AG.		72,588
	45,163		Wilson Bayly Holmes-Ovcon Ltd		420
	332,625		Wolseley plc		19,660
	254,745		Woodward Governor Co		12,995
	67,478	e	WSP Global, Inc		2,233
	27,109	*	Xerium Technologies, Inc		440
	103,112		Xxentria Technology Materials Corp		328
	151,772		Xylem, Inc		5,315
	11,708		Y G-1 Co Ltd		105
	73,500		Yahagi Construction Co Ltd		484
	25,800		YAMABIKO Corp		1,155
	134,900		Yamazen Corp		1,106
	8,322,349	e	Yangzijiang Shipbuilding		7,651
	119,477		Yazicilar Holding AS		991
	364,800		Yinson Holdings BHD		277
	101,811	e	YIT Oyj		558
	29,300		Yokogawa Bridge Holdings Corp		315
	1,098,666	e	Yoma Strategic Holdings Ltd		381
	2,056,000		Yuanda China Holdings Ltd		151
	44,400		Yuasa Trading Co Ltd		928
	839,000		Yungtay Engineering Co Ltd		1,945
	121,000		Yurtec Corp		807
	10,400		Yushin Precision Equipment Co Ltd		210
	96,797	e	Zardoya Otis S.A.		1,249
	25,382		Zehnder Group AG.		1,183
	187,400		Zhengzhou Coal Mining Machinery Group Co Ltd		128
	2,564,895		Zhuzhou CSR Times Electric Co Ltd		16,872
	115,077		Zodiac S.A.		3,808
	3,400	e	Zuiko Corp		130
	63,659		Zumtobel AG.		1,577
			TOTAL CAPITAL GOODS		9,134,750
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
	32,000	*,e	51job, Inc (ADR)		1,033
	190,520		ABM Industries, Inc		6,070
	170,660	e	Acacia Research (Acacia Technologies)		1,826
	386,529	*	ACCO Brands Corp		3,212
	182,868		Adcorp Holdings Ltd		481
	1,322,051		Adecco S.A.		109,893

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	120,373		Administaff, Inc	$	6,294
	702,602	e	ADT Corp		29,172
	112,515	*	Advisory Board Co		5,995
	67,200		Aeon Delight Co Ltd		1,607
	136,416		AF AB		1,900
	78,134		Aggreko plc		1,767
	17,201		Akka Technologies S.A.		555
	306,303	e	ALS Ltd		1,151
	4,751		Amadeus Fire AG		375
	49,825		American Banknote S.A.		692
	59,703	e	American Ecology Corp		2,983
	86,541	*	Applus Services S.A.		972
	122,600	*	ARC Document Solutions, Inc		1,132
	17,911		Assystem		379
	8,400	*,e	Asukanet Co Ltd		210
	263,087		Atkins WS plc		4,967
	256,011		Babcock International Group		3,735
	24,680		Barrett Business Services, Inc		1,057
	16,900	e	Benefit One, Inc		235
	15,852		Bertrandt AG.		2,306
	46,679	e	Bilfinger Berger AG.		2,698
	40,800	e	Black Diamond Group Ltd		403
	749,703		Blue Label Telecoms Ltd		538
	166,377		Brady Corp (Class A)		4,707
	2,955,145		Brambles Ltd		25,843
	167,764	e	Brink’s Co		4,635
	58,807	e	Brunel International NV		1,125
	217,032		Bureau Veritas S.A.		4,656
	393,616	e	Cabcharge Australia Ltd		1,385
	129,792		Cape plc		481
	482,040		Capita Group plc		7,969
	1,492,000	*,e	Capital Environment Holdings Ltd		99
	122,875	*	Casella Waste Systems, Inc (Class A)		676
	237,463		Caverion Corp		2,410
	131,123	*,e	CBIZ, Inc		1,223
	49,087		CDI Corp		690
	71,341	e	Ceco Environmental Corp		757
	200,461	*,e	Cenveo, Inc		429
	15,374		Cewe Color Holding AG.		976
	3,566,659		China Everbright International Ltd		5,982
	385,615		Cintas Corp		31,478
	341,508		Civeo Corp		867
	241,656	*,e	Clean Harbors, Inc		13,721
	47,000		Cleanaway Co Ltd		262
	299,349	e	CNH Industrial NV (NYSE)		2,443
	31,200		Contax Participacoes S.A.		76
	374,394	*	Copart, Inc		14,066
	154,323		Corporate Executive Board Co		12,324
	370,249		Corrections Corp of America		14,906
	332,494		Covanta Holding Corp		7,458
	30,356	*	CRA International, Inc		945
	106,034	e	Credit Corp Group Ltd		932

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	365,611	e	Dai Nippon Printing Co Ltd	$	3,551
	38,400		Daiseki Co Ltd		692
	382,220		Davis Service Group plc		6,323
	245,858		De La Rue plc		2,019
	150,187		Deluxe Corp		10,405
	92,628		Derichebourg		284
	36,449	e	DirectCash Payments, Inc		478
	436,527		Downer EDI Ltd		1,480
	132,358		Dun & Bradstreet Corp		16,989
	45,098	e	Duskin Co Ltd		781
	337,000	*,e	Dynagreen Environmental Protection Group Co Ltd		230
	278,755		Eastern Media International Corp		88
	1,138,050		Edenred		28,394
	7,500		en-japan, Inc		103
	88,588		Ennis, Inc		1,251
	312,869		Equifax, Inc		29,097
	1,332,014		Experian Group Ltd		22,049
	57,439		Exponent, Inc		5,106
	30,353	*	Franklin Covey Co		585
	137,460	*	FTI Consulting, Inc		5,149
	15,463,000	*,m	Fung Choi Media Group Ltd		113
	66,780		G & K Services, Inc (Class A)		4,844
	24,992		Gategroup Holding AG.		843
	8,497		GL Events		173
	38,153	*	GP Strategies Corp		1,412
	12,246,998		Group 4 Securicor plc		53,684
	3,014		Groupe CRIT		158
	44,383		Gunnebo AB		234
	9,175,194		Hays plc		20,708
	194,054	e	Healthcare Services Group		6,235
	60,365		Heidrick & Struggles International, Inc		1,484
	27,168	*	Heritage-Crystal Clean, Inc		318
	156,666		Herman Miller, Inc		4,349
	70,204	*	Hill International, Inc		252
	186,240		HNI Corp		10,275
	427,452		Homeserve plc		2,417
	105,734	e	Horizon North Logistics, Inc		194
	108,489	*	Huron Consulting Group, Inc		7,177
	66,523	*	ICF International, Inc		2,717
	608,241	*	ICO Global Communications Holdings Ltd		791
	143,854	*	IHS, Inc (Class A)		16,365
	115,160	*,e	Innerworkings, Inc		774
	180,279		Interface, Inc		3,746
	150,204		Intertek Group plc		5,564
	381,726		Intrum Justitia AB		10,709
	137,114	*,e	ISS A.S.		4,322
	261,767	*	ITE Group plc		701
	39,900		Itoki Corp		254
	10,732		Kaba Holding AG.		6,448
	124,076		KAR Auction Services, Inc		4,706
	20,000		KD Holding Corp		112
	92,273		Kelly Services, Inc (Class A)		1,609

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	59,257		KEPCO Plant Service & Engineering Co Ltd	$	5,206
	108,735		Kforce, Inc		2,426
	106,800		K-Green Trust		85
	167,117	e	Kimball International, Inc (Class B)		1,751
	141,295		Knoll, Inc		3,311
	247,300		Kokuyo Co Ltd		2,309
	215,470		Korn/Ferry International		7,083
	149,000	e	Kyodo Printing Co Ltd		457
	119,864		Loomis AB		3,671
	300,204		Manpower, Inc		25,863
	13,962		Matsuda Sangyo Co Ltd		179
	102,797		Matthews International Corp (Class A)		5,295
	87,429		McGrath RentCorp		2,877
	56,147		McMillan Shakespeare Ltd		507
	29,800		Meitec Corp		997
	470,003		Michael Page International plc		3,625
	149,961	e	Mineral Resources Ltd		767
	44,951	*	Mistras Group, Inc		866
	373,709	e	Mitie Group		1,526
	17,872		Mitsubishi Pencil Co Ltd		663
	156,671		Mobile Mini, Inc		6,680
	110,796	*,e	Moleskine S.p.A		184
	96,989	e	Morneau Sobeco Income Fund		1,329
	42,800		Moshi Moshi Hotline, Inc		467
	143,750		MSA Safety, Inc		7,170
	37,242		Multi-Color Corp		2,582
	171,121	*	Navigant Consulting, Inc		2,218
	50,599		Newalta, Inc		559
	226,606		Nielsen Holdings NV		10,100
	44,800		Nihon M&A Center, Inc		1,544
	5,900		Nippon Kanzai Co Ltd		141
	119,660	e	Nissha Printing Co Ltd		2,181
	23,969		NL Industries, Inc		186
	35,300		Nomura Co Ltd		332
	149,000		Okamura Corp		1,198
	190,760	*	On Assignment, Inc		7,319
	61,968		Oyo Corp		837
	215,600		Park24 Co Ltd		4,411
	28,377	*,e	Paylocity Holding Corp		813
	164,893	*,e	Performant Financial Corp		561
	15,600		Pilot Corp		877
	926,339		Pitney Bowes, Inc		21,602
	303,076	e	Programmed Maintenance Services Ltd		557
	147,647	e	Progressive Waste Solutions Ltd		4,334
	13,700		PRONEXUS, Inc		93
	668,871	e	Prosegur Cia de Seguridad S.A.		3,809
	91,557	e	Quad		2,104
	36,061	*,e	Quest Resource Holding Corp		45
	1,066,339	e	R.R. Donnelley & Sons Co		20,463
	112,669		Randstad Holdings NV		6,830
	317,080		Recall Holdings Ltd		1,866
	118,859	*	Recruit Holdings Co Ltd		3,709

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	764,251		Regus plc	$	2,470
	4,159,712		Rentokil Initial plc		8,434
	368,852		Republic Services, Inc		14,961
	134,808		Resources Connection, Inc		2,359
	157,860	e	Ritchie Bros Auctioneers, Inc		3,937
	830,696		Robert Half International, Inc		50,274
	308,566		Rollins, Inc		7,631
	294,282		RPS Group plc		984
	376,181	*	RPX Corp		5,413
	18,607		S1 Corp (Korea)		1,406
	599,144	e	SAI Global Ltd (New)		1,884
	18,000	*,e	Sanix, Inc		56
	22,052		Sato Corp		500
	3,289		Seche Environnement S.A.		108
	237,654		Secom Co Ltd		15,852
	674,231		Securitas AB (B Shares)		9,680
	836,528		Seek Ltd		10,846
	555,080	e	Serco Group plc		1,135
	114,066		SG Fleet Group Ltd		204
	5,039		SGS S.A.		9,607
	214,100	m	Shanghai Youngsun Investment C		247
	555,654		Shanks Group plc		872
	66,250	m	Shenzhen Dongjiang Environmental Co Ltd		260
	181,682	e	Skilled Group Ltd		173
	55,990		Societe BIC S.A.		7,977
	56,900		Sohgo Security Services Co Ltd		1,936
	53,475	*	SP Plus Corp		1,168
	44,107		Sporton International, Inc		239
	709,313		Spotless Group Holdings Ltd		1,223
	211,535	e	Stantec, Inc		5,062
	360,558		Steelcase, Inc (Class A)		6,829
	466,309	*	Stericycle, Inc		65,484
	7,634		Synergie S.A		170
	536,520		Taiwan Secom Co Ltd		1,449
	364,670		Taiwan-Sogo Shinkong Security Corp		471
	54,269	*	Team, Inc		2,115
	278,896		Teleperformance		19,113
	67,000		Temp Holdings Co Ltd		2,312
	254,139		Tetra Tech, Inc		6,104
	310,000		Tianjin Capital Environmental Protection Group Co Ltd		241
	142,400		Toppan Forms Co Ltd		1,613
	471,669	e	Toppan Printing Co Ltd		3,628
	130,221		Towers Watson & Co		17,213
	340,479	e	Tox Free Solutions Ltd		734
	205,342		Transcontinental, Inc		2,837
	1,830,862	*	Transfield Services Ltd		1,899
	1,603,758	e	Transpacific Industries Group Ltd		971
	80,116	*	TriNet Group, Inc		2,823
	194,835	*	TrueBlue, Inc		4,744
	2,917,150		Tyco International plc		125,612
	50,560		Unifirst Corp		5,950
	491,400		United Envirotech Ltd		592

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	134,255		United Stationers, Inc	$	5,503
	66,452		USG People NV		919
	1,826,255		Veda Group Ltd		3,218
	644,807	*	Verisk Analytics, Inc		46,039
	70,541		Viad Corp		1,962
	15,129		VSE Corp		1,239
	152,840	*	WageWorks, Inc		8,151
	75,117		Waste Connections, Inc		3,616
	1,074,777		Waste Management, Inc		58,285
	4,200		Weathernews, Inc		123
	113,988		West Corp		3,845
	586,735		Yem Chio Co Ltd		287
	452,500	e	Yestar International Holdings Co Ltd		173
	639,887	e	Yumeshin Holdings Co Ltd		4,756
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,430,384
CONSUMER DURABLES & APPAREL - 2.2%
	641,000	e	361 Degrees International Ltd		184
	1,065,000		Ability Enterprise Co Ltd		598
	43,632	*	Accell Group NV		812
	1,170,257		Adidas-Salomon AG.		92,407
	286,306		Aksa Akrilik Kimya Sanayii		1,066
	224,500		Alpine Electronics, Inc		3,734
	235,358		Altek Corp		276
	135,523		Amer Sports Oyj (A Shares)		2,911
	2,388,949		AmTRAN Technology Co Ltd		1,321
	3,225,586		Anta Sports Products Ltd		5,900
	223,080		Arcelik AS		1,285
	86,274		Arctic Cat, Inc		3,133
	38,500	*	Arezzo Industria e Comercio S.A.		296
	325,616		Arvind Ltd		1,363
	142,538		Asics Corp		3,879
	2,501,741		Avermedia Technologies		1,109
	7,333		Bajaj Electricals Ltd		27
	41,668	*,e	Bang & Olufsen AS (B Shares)		383
	1,599,520		Barratt Developments plc		12,506
	6,853		Basic House Co Ltd		96
	7,359		Bata India Ltd		129
	83,864	*,e	Beazer Homes USA, Inc		1,486
	5,166,711		Belle International Holdings Ltd		6,031
	353,017		Bellway plc		10,347
	55,292	e	Beneteau S.A.		781
	338,918		Berkeley Group Holdings plc		13,243
	3,668		Bijou Brigitte AG.		224
	647,049	*,e	Billabong International Ltd		285
	81,696		Bizlink Holdings Inc		336
	77,140	*,e	Black Diamond, Inc		729
	17,552		Bombay Dyeing & Manufacturing Co Ltd		18
	2,805,300	e	Bosideng International Holdings Ltd		300
	383,684		Bovis Homes Group plc		5,292
	37,303	*	BRP, Inc		714
	19,491	e	Brunello Cucinelli S.p.A		343

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	310,963		Brunswick Corp	$	15,999
	1,091,169		Burberry Group plc		28,022
	263,007	e	Callaway Golf Co		2,506
	278,853		Carter’s, Inc		25,786
	310,315	e	Casio Computer Co Ltd		5,878
	23,867	*	Cavco Industries, Inc		1,791
	12,290		CCC S.A.		592
	661,000		Cecep Costin New Materials Grp Ltd		258
	1,214	*,e	Century Communities, Inc		23
	444,000		China Creative Home Group Ltd		75
	2,984,400	e	China Dongxiang Group Co		539
	2,085,000	*	China Household Holdings Ltd		169
	1,002,000		China Lilang Ltd		774
	25,100		Chofu Seisakusho Co Ltd		619
	1,264	*	Chokwang Leather Co Ltd		146
	40,198		Christian Dior S.A.		7,566
	31,300		Cia Providencia Industria e Comercio S.A.		81
	762,384		Cie Financiere Richemont S.A.		61,258
	1,600,000		Citychamp Watch & Jewellery Group Ltd		169
	115,000	e	Clarion Co Ltd		316
	19,200		Cleanup Corp		149
	359,490		Coach, Inc		14,894
	79,832		Columbia Sportswear Co		4,862
	684,800	*	Consorcio ARA, S.A. de C.V.		287
	14,900		Corona Corp		144
	654,100	*,e,m	Corp GEO S.A. de C.V. (Series B)		0	^
	203,000	*,e,g	Cosmo Lady China Holdings Co Ltd		143
	228,918		Crest Nicholson Holdings plc		1,442
	267,594	*	CROCS, Inc		3,160
	31,116		CSS Industries, Inc		938
	36,584	e	Culp, Inc		979
	1,301,358		Cyrela Brazil Realty S.A.		5,403
	33,500		Daikoku Denki Co Ltd		484
	190,716	*	Deckers Outdoor Corp		13,897
	55,369		De’Longhi S.p.A.		1,198
	9,061		Delta-Galil Industries Ltd		269
	42,190		Descente Ltd		524
	320,300		Direcional Engenharia S.A.		626
	43,935	*,e	Dixie Group, Inc		398
	37,038		Dorel Industries, Inc (Class B)		1,028
	1,415,758		DR Horton, Inc		40,321
	77,365		Duni AB		1,113
	1,181,095		Eclat Textile Co Ltd		15,477
	1,314,201	e	Electrolux AB (Series B)		37,545
	33,930	e	Escalade, Inc		590
	86,352	e	Ethan Allen Interiors, Inc		2,387
	577,100		Even Construtora e Incorporadora S.A.		799
	130,100		Ez Tec Empreendimentos e Participacoes S.A.		823
	748,601		Feng TAY Enterprise Co Ltd		4,503
	14,900	e	Fields Corp		227
	8,506		Fila Korea Ltd		828
	15,913		Flexsteel Industries, Inc		498

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,194		Forbo Holding AG.	$	3,790
	554,852		Formosa Taffeta Co Ltd		584
	80,848		Forus S.A.		333
	275,556	*,e	Fossil Group, Inc		22,720
	20,191		Foster Electric Co Ltd		503
	107,000	e	France Bed Holdings Co Ltd		159
	455,600		Fuguiniao Co Ltd		969
	107,000		Fujibo Holdings Inc		266
	93,000		Fujitsu General Ltd		1,218
	110,300	*	Funai Electric Co Ltd		1,270
	2,450,400		Gafisa S.A.		1,651
	155,574	e	Garmin Ltd		7,393
	72,754	e	Geox S.p.A.		281
	24,907	e	Gerry Weber International AG.		859
	660,379		Giant Manufacturing Co Ltd		6,371
	56,816	*	G-III Apparel Group Ltd		6,400
	238,716		Gildan Activewear, Inc		7,038
	17,248,000	*	Global Brands Group Holding Ltd		3,382
	32,000		Goldwin, Inc		217
	682,000	e	Goodbaby International Holding		221
	266,987	*	GoPro, Inc		11,590
	213,694		GUD Holdings Ltd		1,337
	1,012,000		Gunze Ltd		2,705
	2,895,983		Haier Electronics Group Co Ltd		7,581
	2,994,000	*,e	Haier Healthwise Holdings Ltd		343
	11,863		Handsome Co Ltd		351
	2,771,434		Hanesbrands, Inc		92,871
	61,198		Hansae Co Ltd		2,303
	33,151		Hansae Yes24 Holdings Co Ltd		486
	34,961		Hanssem Co Ltd		5,809
	457,078		Harman International Industries, Inc		61,079
	706,514	e	Hasbro, Inc		44,680
	498,800		Haseko Corp		4,859
	326,148		Hefei Meiling Co Ltd		218
	171,000		Heiwa Corp		3,359
	314,350		Helbor Empreendimentos S.A.		391
	112,741	*	Helen of Troy Ltd		9,187
	30,258		Hermes International		10,684
	809,000	*	Hisense Kelon Electrical Holdings Co Ltd		699
	1,360,000		Hosa International Ltd		584
	395,267	*,e	Hovnanian Enterprises, Inc (Class A)		1,407
	196,460		Hugo Boss AG.		23,868
	972,025		Husqvarna AB (B Shares)		7,041
	66,557		Huvis Corp		605
	11,311		Hyundai Livart Furniture Co Ltd		406
	18,745		IC Companys AS		435
	146,501	*,e	Iconix Brand Group, Inc		4,933
	227,453		Iida Group Holdings Co Ltd		2,830
	2,246		Ilshin Spinning Co Ltd		365
	23,774	*	Installed Building Products Inc		517
	81,155	*,e	iRobot Corp		2,648
	62,382	*,e	Jakks Pacific, Inc		427

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	27,000		Japan Vilene Co Ltd	$	133
	56,000		Japan Wool Textile Co Ltd		405
	3,077,062	*	Jarden Corp		162,777
	263,999	*,m	Jinshan Development & Construction Co Ltd		180
	253,973		JM AB		8,445
	423,020		Johnson Health Tech Co Ltd		1,174
	18,224		Johnson Outdoors, Inc		603
	137,000		JVC KENWOOD Holdings, Inc		421
	804,555	*	Kate Spade & Co		26,864
	240,226	e	KB Home		3,752
	5,480,000	*	Kinpo Electronics		2,498
	25,150		KMC Kuei Meng International In		116
	1,327,800		Konka Group Co Ltd		766
	461,000		Kurabo Industries Ltd		809
	495		Kyungbang Ltd		87
	509,304		Lao Feng Xiang Co Ltd		1,755
	355,856		La-Z-Boy, Inc		10,003
	892,000		Le Saunda Holdings		329
	244,776		Lealea Enterprise Co Ltd		72
	231,475	*,e	Leapfrog Enterprises, Inc		505
	120,734		Leggett & Platt, Inc		5,565
	378,687	e	Lennar Corp (Class A)		19,620
	104,453		LG Electronics, Inc		5,536
	61,914		LG Fashion Corp		1,767
	44,065	*,e	LGI Homes, Inc		734
	1,271,520	*,e	Li Ning Co Ltd		721
	377,491	*	Li Peng Enterprise Co Ltd		129
	55,523		Libbey, Inc		2,216
	37,769		Lifetime Brands, Inc		577
	14,742	*	LiHOM-CUCHEN Co Ltd		147
	817		LPP S.A.		1,525
	156,290	*,e	Lululemon Athletica, Inc		10,006
	718,900		Luthai Textile Co Ltd		1,046
	213,760		Luxottica Group S.p.A.		13,539
	263,443		LVMH Moet Hennessy Louis Vuitton S.A.		46,361
	82,648	*	M/I Homes, Inc		1,970
	3,346		Maisons France Confort		118
	349,951		Makalot Industrial Co Ltd		2,512
	40,885	*	Malibu Boats Inc		955
	1,971,600		Man Wah Holdings Ltd		1,895
	6,442	*,m	Mariella Burani S.p.A.		0	^
	33,313	e	Marine Products Corp		285
	8,500		Mars Engineering Corp		150
	1,661,883		Matsushita Electric Industrial Co Ltd		21,824
	3,951,317	e	Mattel, Inc		90,288
	424,400		MC Group PCL		190
	2,682,000		MC Group PCL (ADR)		1,203
	132,576	e	MDC Holdings, Inc		3,778
	219,587		Merida Industry Co Ltd		1,724
	130,290	*	Meritage Homes Corp		6,337
	907,475	*	Michael Kors Holdings Ltd		59,666
	38,100		Misawa Homes Co Ltd		332

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	40,000		Mitsui Home Co Ltd	$	172
	92,000		Mizuno Corp		480
	309,342	*	Mohawk Industries, Inc		57,460
	418,223		Moncler S.p.A		7,011
	114,239		Movado Group, Inc		3,258
	997,565		MRV Engenharia e Participacoes S.A.		2,510
	15,372		Nacco Industries, Inc (Class A)		815
	204,935		Namco Bandai Holdings, Inc		3,989
	32,000		Nan Liu Enterprise Co Ltd		163
	193,549	*	Nautilus, Inc		2,955
	28,930	*,e	New Home Co Inc		461
	44,981		New Wave Group AB (B Shares)		221
	2,134,776		Newell Rubbermaid, Inc		83,406
	515,129		Nien Hsing Textile Co Ltd		451
	2,940,839		Nike, Inc (Class B)		295,054
	202,924	e	Nikon Corp		2,721
	115,566	e	Nobia AB		1,023
	42,261	*,e	NVR, Inc		56,150
	943,531	e	Onward Kashiyama Co Ltd		6,582
	279,153		Oriental Weavers		392
	41,675		Oxford Industries, Inc		3,144
	537,000	*,e,g	Ozner Water International Holding Ltd		192
	497,778		Pacific Textile Holdings Ltd		690
	9,283		Page Industries Ltd		2,035
	267,000		PanaHome Corp		1,846
	127,982		Pandora AS		11,652
	89,998	*	PDG Realty S.A.		14
	402,000	*,m	Peace Mark Holdings Ltd		0	^
	1,276,000		Peak Sport Products Co Ltd		362
	15,899		Pegas Nonwovens S.A.		434
	500,000	*	Performance Sports Group Ltd		9,750
	63,109	*	Performance Sports Group Ltd (Canada)		1,231
	40,834	*	Perry Ellis International, Inc		946
	395,875		Persimmon plc		9,756
	130,700		Phillips-Van Heusen Corp		13,927
	35,855		PIK Group (GDR)		117
	275,400	*	Pioneer Corp		502
	8,104,857		Playmates Holdings Ltd		8,253
	1,640,000		Playmates Toys Ltd		401
	179,984	e	Polaris Industries, Inc		25,396
	123,071		Pool Corp		8,585
	5,352,935		Pou Chen Corp		7,480
	28,000		Pressance Corp		889
	970,200	e	Prime Success International Group Ltd		325
	1,247,475		Pulte Homes, Inc		27,731
	424,666	*,e	Quiksilver, Inc		786
	166,310		Rajesh Exports Ltd		518
	126,676		Ralph Lauren Corp		16,658
	75,979		Raymond Ltd		538
	579,312		Redrow plc		3,078
	169,900		Restoque Comercio e Confeccoes de Roupas S.A.		353
	28,897		Rinnai Corp		2,142

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,555,562		Ruentex Industries Ltd	$	3,404
	166,097	e	Ryland Group, Inc		8,096
	30,576	*,e	Safilo Group S.p.A.		480
	57,034	e	Salvatore Ferragamo Italia S.p.A		1,825
	57,802		Samick Musical Instruments Co Ltd		222
	837,000		Sampo Corp		368
	989,000		Samson Holding Ltd		136
	56,952		Sangetsu Co Ltd		861
	61,021		Sankyo Co Ltd		2,167
	122,400		Sanyo Electric Taiwan Co Ltd		114
	327,000		Sanyo Shokai Ltd		840
	22,680		SEB S.A.		1,636
	295,194	e	Sega Sammy Holdings, Inc		4,301
	138,000		Seiko Holdings Corp		696
	1,208,230		Seiren Co Ltd		10,803
	834,295		Sekisui Chemical Co Ltd		10,825
	1,759,877		Sekisui House Ltd		25,553
	50,214	*,e	Sequential Brands Group, Inc		537
	354,300	*	Shanghai Haixin Group Co		248
	319,365	*,e	Sharp Corp		626
	223,400	*	Shenzhen China Bicycle Co Holdings Ltd		125
	627,493		Shenzhou International Group Holdings Ltd		2,832
	85,345		Shimano, Inc		12,682
	263,000		Shinkong Textile Co Ltd		327
	716,000	e	Sitoy Group Holdings Ltd		457
	209,898	*	Skechers U.S.A., Inc (Class A)		15,094
	63,684	*	Skullcandy, Inc		720
	6,158,401		Skyworth Digital Holdings Ltd		4,837
	146,302	*,e	Smith & Wesson Holding Corp		1,862
	6,095,587		Sony Corp		163,018
	409,392	*,e	Sony Corp (ADR)		10,964
	13,531		SRF Ltd		215
	9,000		SRI Sports Ltd		91
	504,196	*,e	Standard-Pacific Corp		4,538
	25,800		Starts Corp, Inc		392
	5,140,865	e	Steinhoff International Holdings Ltd		32,176
	918,500		Stella International Holdings Ltd		2,190
	263,746	*	Steven Madden Ltd		10,022
	52,870	e	Sturm Ruger & Co, Inc		2,624
	152,354		Sumitomo Forestry Co Ltd		1,664
	36,676		Swatch Group AG.		15,511
	243,322		Swatch Group AG. (Registered)		20,394
	121,000	*,e	Sxl Corp		101
	6,656		Symphony Ltd		276
	750,537		Tainan Spinning Co Ltd		389
	632,600		Taiwan Paiho Ltd		1,525
	220,893		Takamatsu Corp		4,721
	15,800		Tamron Co Ltd		340
	1,852,298	*	Tatung Co Ltd		498
	25,568	*	Taylor Morrison Home Corp		533
	6,033,353		Taylor Wimpey plc		13,831
	2,156,000	*,e	TCL Multimedia Technology Holdings Ltd		1,734

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,000		Technos S.A.	$	68
	1,785,500		Techtronic Industries Co		6,020
	361,600		Tecnisa S.A.		442
	46,791		Ted Baker plc		1,728
	307,078	*	Tempur-Pedic International, Inc		17,731
	928,500	e	Texhong Textile Group Ltd		1,035
	1,486,000		Texwinca Holdings Ltd		1,359
	289,870	*	Thomson		1,871
	1,768,000		Time Watch Investments Ltd		224
	7,685		Titan Industries Ltd		48
	12,520	e	Tod’s S.p.A.		1,134
	7,890		Token Corp		397
	154,342	*	Toll Brothers, Inc		6,072
	101,827	*,e	TomTom NV		780
	61,968	e	Tomy Co Ltd		368
	48,000		Topkey Corp		188
	72,000		Toung Loong Textile Manufacturing		243
	481,898	*	TRI Pointe Homes, Inc		7,436
	22,699		Trigano S.A.		769
	994,000	e	Trinity Ltd		204
	73,700		TSI Holdings Co Ltd		497
	1,997		TTK Prestige Ltd		110
	278,613	*,e	Tumi Holdings, Inc		6,815
	106,533		Tupperware Corp		7,353
	17,240	*,e	Turtle Beach Corp		32
	26,928	*	UCP, Inc (Class A)		234
	193,883	*	Under Armour, Inc (Class A)		15,656
	48,827	*	Unifi, Inc		1,762
	624,000	*	Unitika Ltd		286
	93,217	*	Universal Electronics, Inc		5,261
	208,800	*,e	Universal Entertainment Corp		3,412
	591,479	*,e,m	Urbi Desarrollos Urbanos S.A. de C.V		0	^
	12,313		Vaibhav Global Ltd		157
	33,377		Vardhman Textiles Ltd		289
	60,136	*,e	Vera Bradley, Inc		976
	87,262	*	Vestel Elektronik Sanayi		193
	1,502,213		VF Corp		113,132
	29,513		Videocon Industries Ltd		74
	63,751	*	Vince Holding Corp		1,183
	98,456	*	Vista Outdoor, Inc		4,216
	268,627		Wacoal Holdings Corp		3,019
	36,870	*	WCI Communities, Inc		883
	374,500	e	Weiqiao Textile Co		220
	1,850,000	e	Welling Holding Ltd		353
	12,100	e	West Holdings Corp		107
	25,292		Weyco Group, Inc		756
	148,781		Whirlpool Corp		30,063
	49,174	*	Whirlpool of India Ltd		578
	57,434	*,e	William Lyon Homes, Inc		1,483
	284,386	e	Wolverine World Wide, Inc		9,513
	17,767	*	Woongjin Chemical Co Ltd		313
	204,342		Woongjin Coway Co Ltd		16,818

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	204,931		Wuxi Little Swan Co Ltd	$	397
	1,275,500		XTEP International Holdings		396
	177,850		Yamaha Corp		3,106
	18,900		Yondoshi Holdings, Inc		361
	19,855		Youngone Corp		975
	10,116		Youngone Holdings Co Ltd		843
	1,042,907		Yue Yuen Industrial Holdings		3,690
	3,738,000		Yuxing InfoTech Investment Holdings Ltd		1,572
	161,764		Zeng Hsing Industrial Co Ltd		981
	92,800		Zhonglu Co Ltd		162
			TOTAL CONSUMER DURABLES & APPAREL		2,750,450
CONSUMER SERVICES - 1.9%
	34,230	*	2U, Inc		876
	467,263		888 Holdings plc		1,054
	68,700	*	Abril Educacao S.A.		263
	2,386,791		Accor S.A.		124,462
	57,400		Accordia Golf Co Ltd		551
	2,083,000	*	Accordia Golf Trust		1,146
	578,571		Advtech Ltd		426
	119,872	e	Ainsworth Game Technology Ltd		263
	443,000		Ajisen China Holdings Ltd		255
	459,202	e	Alsea SAB de C.V.		1,342
	112,805	*,e	Amaya, Inc		2,645
	317,000		Ambassador Hotel		279
	46,988	*	American Public Education, Inc		1,409
	203,848	*	Apollo Group, Inc (Class A)		3,857
	2,232,237		ARAMARK Holdings Corp		70,606
	1,303,546		Aristocrat Leisure Ltd		8,340
	46,815	*	Ascent Media Corp (Series A)		1,864
	49,100	e	Atom Corp		321
	131,125	*	Autogrill S.p.A.		1,270
	2,474,109	*	Belmond Ltd.		30,382
	91,025	e	Benesse Corp		2,863
	621,227		Berjaya Sports Toto BHD		564
	205,826		Betfair Group plc		6,804
	39,168		Betsson AB		1,471
	43,600	*	BHG S.A.-Brazil Hospitality Group		256
	73,345	*	BJ’s Restaurants, Inc		3,700
	24,173,000	*	Bloomberry Resorts Corp		5,641
	464,921		Bloomin’ Brands, Inc		11,312
	86,083	e	Bob Evans Farms, Inc		3,982
	446,768	*	Boyd Gaming Corp		6,344
	51,167	*	Bravo Brio Restaurant Group, Inc		752
	60,296	*	Bridgepoint Education, Inc		582
	75,403	*	Bright Horizons Family Solutions		3,866
	430,242		Brinker International, Inc		26,486
	80,537	*	Buffalo Wild Wings, Inc		14,597
	754,176		Bwin.Party Digital Entertainment plc		894
	152,780	*,e	Caesars Acquisition Co		1,039
	165,225	*,e	Caesars Entertainment Corp		1,740
	504,000		Cafe de Coral Holdings Ltd		1,804

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	59,503		Capella Education Co	$	3,861
	234,654	*	Career Education Corp		1,180
	1,682,399		Carnival Corp		80,486
	104,305		Carnival plc		5,101
	53,046	e	Carriage Services, Inc		1,266
	113,106	*	Carrols Restaurant Group, Inc		938
	67,990	e	CBRL Group, Inc		10,344
	1,514,040		Century City International		121
	151,447		Cheesecake Factory		7,471
	251,012	*,e	Chegg, Inc		1,996
	6,320,000	e	China LotSynergy Holdings Ltd		528
	5,906,000		China Travel International Inv HK		1,923
	107,262	*	Chipotle Mexican Grill, Inc (Class A)		69,778
	49,858		Choice Hotels International, Inc		3,194
	38,560		Churchill Downs, Inc		4,433
	346,747	*,e	Chuy’s Holdings, Inc		7,812
	9,105		Cie des Alpes		166
	61,823		City Lodge Hotels Ltd		702
	59,264		ClubCorp Holdings, Inc		1,147
	18,128		Collectors Universe		409
	53,200	e	Colowide Co Ltd		726
	632,335		Compass Group plc		10,977
	184,171	e	Corporate Travel Management Lt		1,644
	461,024		Cox & Kings India Ltd		2,389
	14,200		Create Restaurants Holdings, Inc		188
	2,474		Credu Corp		123
	428,401		Crown Ltd		4,348
	153,300		CVC Brasil Operadora e Agencia de Viagens S.A.		680
	64,347		Daekyo Co Ltd		397
	100,000		Dahan Development Corp		263
	5,700	e	Daisyo Corp		67
	1,138,132		Darden Restaurants, Inc		78,918
	17,841	*	Dave & Buster’s Entertainment, Inc		543
	561,948	*	Del Frisco’s Restaurant Group, Inc		11,323
	476,500	*	Denny’s Corp		5,432
	323,728		DeVry, Inc		10,800
	108,133	*	Diamond Resorts International, Inc		3,615
	58,557		Dignity plc		1,584
	52,860	e	DineEquity, Inc		5,657
	12,018		DO & CO AG.		892
	275,688	e	Domino’s Pizza Enterprises Ltd		7,776
	423,671		Domino’s Pizza UK & IRL plc		4,871
	117,943		Domino’s Pizza, Inc		11,859
	100,600		Doutor Nichires Holdings Co Ltd		1,685
	73,907		Dunkin Brands Group, Inc		3,515
	2,585,400	e	Dynam Japan Holdings Co Ltd		5,020
	4,728,003		Echo Entertainment Group Ltd		16,219
	157,628		EIH Ltd		270
	24,362	*,e	El Pollo Loco Holdings, Inc		624
	88,066	*,e,g	Elior Participations S.C.A		1,509
	1,440,000		Emperor Entertainment Hotel Ltd		308
	47,049	*,e	Empire Resorts, Inc		216

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	237,993	e	EnerCare, Inc	$	2,866
	517,750	*	Enterprise Inns plc		766
	1,474,000		Erawan Group PCL		211
	665,949		Estacio Participacoes S.A.		3,869
	2,600,795		Extended Stay America, Inc		50,794
	147,532		Famous Brands Ltd		1,362
	12,585	*,e	Famous Dave’s of America, Inc		359
	71,926	*	Fiesta Restaurant Group, Inc		4,387
	277,330		First Hotel		187
	236,629	e	Flight Centre Ltd		7,122
	36,693		Formosa International Hotels Corp		387
	52,550		Fortuna Entertainment Group NV		210
	468,000		Fu Shou Yuan International Group Ltd		221
	55,000	e	Fuji Kyuko Co Ltd		518
	65,000		Fujita Kanko, Inc		277
	306,262	e	G8 Education Ltd		781
	35,500		GAEC Educacao S.A.		169
	2,283,155		Galaxy Entertainment Group Ltd		10,366
	2,258,308		Genting BHD		5,481
	5,281,228	e	Genting International plc		3,531
	134,798		Gold Reef Resorts Ltd		307
	44,000		Gourmet Master Co Ltd		196
	1,479		Graham Holdings Co		1,552
	176,731	*	Grand Canyon Education, Inc		7,652
	125,243		Grand Korea Leisure Co Ltd		4,263
	107,399	*	Great Canadian Gaming Corp		1,955
	222,405	e	Greene King plc		2,753
	337,744	e	GTECH S.p.A.		6,691
	509,000		GuocoLeisure Ltd		340
	140,235		GVC Holdings plc		989
	747,683		H&R Block, Inc		23,978
	15,421	*,e	Habit Restaurants, Inc		496
	814,000	*,g	Haichang Holdings Ltd		137
	8,431		Hana Tour Service, Inc		850
	11,500		Hiday Hidaka Corp		290
	3,067,061	*	Hilton Worldwide Holdings, Inc		90,846
	19,200		Hiramatsu Inc		102
	106,300		HIS Co Ltd		3,733
	793,900	*	Homeinns Hotel Group (ADR)		18,792
	233,000	*,e	Hoteles City Express SAB de C.V.		356
	366,000	*	Houghton Mifflin Harcourt Co		8,594
	122,750		Huangshan Tourism Development Co Ltd		212
	115,551	*	Hyatt Hotels Corp		6,843
	7,700	e	Ichibanya Co Ltd		342
	25,332	*,e	Ignite Restaurant Group, Inc		123
	523,430		Indian Hotels Co Ltd		979
	65,767		InterContinental Hotels Group plc		2,565
	65,756		International Game Technology		1,145
	92,430		International Speedway Corp (Class A)		3,014
	503,598		Interval Leisure Group, Inc		13,199
	284,666		Intralot S.A.-Integrated Lottery Systems & Services		456
	45,131	*,e	Intrawest Resorts Holdings Inc		394

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	107,805	e	Invocare Ltd	$	1,076
	115,240	*	Isle of Capri Casinos, Inc		1,619
	27,067	*,e	ITT Educational Services, Inc		184
	167,028		Jack in the Box, Inc		16,021
	46,942	*,e	Jamba, Inc		690
	269,689	*	Jinmao Investments and Jinmao China Investments Holdings Ltd		187
	876,912		Jollibee Foods Corp		4,312
	42,100	e	JP-Holdings Inc/Japan		124
	26,341	*	Jubilant Foodworks Ltd		623
	317,482	*	K12, Inc		4,991
	329,085		Kangwon Land, Inc		10,263
	22,900	*,e	Kappa Create Co Ltd		216
	19,500	e	Kisoji Co Ltd		338
	99,000	*	KNT-CT Holdings Co Ltd		138
	7,400	e	Koshidaka Holdings Co Ltd		140
	815,333		Kosmopolito Hotels International Ltd		129
	249,173	*	Krispy Kreme Doughnuts, Inc		4,981
	2,992,956		Kroton Educacional S.A.		9,650
	4,485		Kuoni Reisen Holding		1,475
	11,100		Kura Corp		411
	10,560	e	Kyoritsu Maintenance Co Ltd		505
	235,847	*	La Quinta Holdings, Inc		5,585
	939,085		Ladbrokes plc		1,448
	476,136	e	Las Vegas Sands Corp		26,207
	9,833	*,e	Liberty Tax, Inc		274
	135,356	*,e	Life Time Fitness, Inc		9,605
	434,686	*,e	LifeLock, Inc		6,133
	3,010,000	*,e	Macau Legend Development Ltd		1,040
	452,499	e	Macquarie Leisure Trust Group		771
	143,306	e	Mantra Group Ltd		366
	59,087		Marcus Corp		1,258
	1,088,920		Marriott International, Inc (Class A)		87,462
	91,939		Marriott Vacations Worldwide Corp		7,452
	584,089		Marston’s plc		1,318
	6,900	e	Matsuya Foods Co Ltd		138
	1,000,000	*	Max’s Group, Inc		613
	1,875,895		McDonald’s Corp		182,787
	14,753	e	McDonald’s Holdings Co Japan Ltd		327
	13,557	m	MegaStudy Co Ltd		826
	17,300	e	Meiko Network Japan Co Ltd		186
	28,157,000	*	Melco Crown Philippines Resorts Corp		5,768
	861,000	e	Melco International Development		1,449
	1,444,000	*,e	MelcoLot Ltd		85
	49,104	e	Melia Hotels International S.A.		606
	1,259,692	g	Merlin Entertainments plc		8,247
	2,424,100		MGM China Holdings Ltd		4,554
	1,851,149	*,e	MGM Mirage		38,930
	4,705,490		Minor International PCL (Foreign)		5,056
	209,085	*	Mitchells & Butlers plc		1,296
	9,261		Modetour Network, Inc		276
	35,448	*	Monarch Casino & Resort, Inc		678

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	84,932	*	Morgans Hotel Group Co	$	658
	25,700	e	MOS Food Services, Inc		546
	13,937	e	MTY Food Group, Inc		381
	8,409		Nathan’s Famous, Inc		455
	226,078	e	Navitas Ltd		840
	55,600		NET Holding AS		82
	13,205	*	New Oriental Education & Technology Group (ADR)		293
	197,673	*,e	NH Hoteles S.A.		1,079
	29,596	*,e	Noodles & Co		516
	801,278	*	Norwegian Cruise Line Holdings Ltd		43,277
	11,200		Ohsho Food Service Corp		400
	654,992		OPAP S.A.		6,113
	12,137	*	Orascom Development Holding AG.		204
	336,400		Oriental Land Co Ltd		25,472
	345,200	e	Overseas Union Enterprise Ltd		543
	25,400	e	Pacific Golf Group International Holdings KK		277
	89,394		Paddy Power plc		7,662
	36,166	*,e	Panera Bread Co (Class A)		5,786
	196,824		Papa John’s International, Inc		12,166
	1,010,918	*,a,e	Papa Murphy’s Holdings, Inc		18,338
	52,221		Paradise Co Ltd		1,139
	456,000	e	Paradise Entertainment Ltd		114
	529,612	*,e	Penn National Gaming, Inc		8,294
	5,200	*	Pierre & Vacances		156
	167,762	*	Pinnacle Entertainment, Inc		6,055
	21,400		Plenus Co Ltd		397
	118,657	*	Popeyes Louisiana Kitchen, Inc		7,098
	41,589	*,e	Potbelly Corp		570
	671,798		Raffles Education Corp Ltd		157
	39,587	*,e	Red Robin Gourmet Burgers, Inc		3,444
	899,000	e	Regal Hotels International Holdings Ltd		557
	152,269	*	Regis Corp		2,491
	3,268,034		Resorts World BHD		3,729
	68,300	e	Resorttrust, Inc		1,780
	9,271	*	Restaurant Brands International LP		344
	3,162,228	*,e	Restaurant Brands International, Inc		121,461
	173,819	*	Restaurant Brands International, Inc (Toronto)		6,664
	203,953		Restaurant Group plc		2,033
	383,397		Retail Food Group Ltd		2,056
	24,939,566	e	REXLot Holdings Ltd		1,863
	92,615	*,e	Rezidor Hotel Group AB		348
	16,100	e	Ringer Hut Co Ltd		286
	64,400		Round One Corp		365
	386,764		Royal Caribbean Cruises Ltd		31,657
	28,400	e	Royal Holdings Co Ltd		532
	215,983	*	Ruby Tuesday, Inc		1,298
	195,754		Ruth’s Chris Steak House, Inc		3,109
	28,700	e	Saizeriya Co Ltd		555
	3,276,495		Sands China Ltd		13,549
	158,723	*,e	Scientific Games Corp (Class A)		1,662
	147,813		SeaWorld Entertainment, Inc		2,850
	46,500		Ser Educacional S.A.		183

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	521,936		Service Corp International	$	13,596
	82,819	*	ServiceMaster Global Holdings, Inc		2,795
	14,135	*	Shake Shack, Inc		707
	121,784		Shanghai Jinjiang International Hotels Development Co Ltd		253
	1,130,000		Shanghai Jinjiang International Hotels Group Co Ltd		364
	46,049		Shanghai Jinjiang International Travel Co Ltd		120
	880,120		Shangri-La Asia Ltd		1,209
	1,502		Shinsegae Food Co Ltd		171
	123,280		Six Flags Entertainment Corp		5,968
	3,023,613	e	SJM Holdings Ltd		3,949
	25,816		SkiStar AB (Series B)		319
	596,410	e	Sky City Entertainment Group Ltd		1,825
	234,163	e,m	Slater & Gordon Ltd		1,347
	25,303		Sodexho Alliance S.A.		2,468
	596,220		Sonic Corp		18,900
	165,119	e	Sotheby’s (Class A)		6,978
	37,683		Speedway Motorsports, Inc		857
	1,710,511		Spirit Pub Co plc		2,882
	144,376	e	Spur Corp Ltd		399
	467,782	*	SSP Group plc		2,061
	15,800		St Marc Holdings Co Ltd		537
	2,161,546		Starbucks Corp		204,698
	162,207		Starwood Hotels & Resorts Worldwide, Inc		13,544
	5,837	*	Steak N Shake Co		2,417
	49,158	*	Steiner Leisure Ltd		2,330
	40,086	*,e	Strayer Education, Inc		2,141
	238,151		Sun International Ltd		2,474
	2,220,500		Ta Enterprise BHD		449
	1,621,100		TA Global BHD		140
	1,361,444		Tabcorp Holdings Ltd		4,905
	1,206,402		Tattersall’s Ltd		3,650
	191,731		Texas Roadhouse, Inc (Class A)		6,985
	1,480,933	*	Thomas Cook Group plc		3,189
	59,711		Thomas Cook India Ltd		199
	176,000	e	Tokyo Dome Corp		747
	154,000	e	Tokyotokeiba Co Ltd		382
	20,800		Toridoll.corp		289
	7,000		Tosho Co Ltd		162
	602,000	e	Tsui Wah Holdings Ltd		195
	18,800	e	Tsukada Global Holdings Inc		122
	488,901		TUI AG. (DI)		8,577
	86,964		Unibet Group plc (ADR)		4,771
	73,959		Universal Technical Institute, Inc		710
	96,882		Vail Resorts, Inc		10,020
	19,900	e	Watami Co Ltd		197
	53,568	*,e	Weight Watchers International, Inc		374
	166,399		Wendy’s		1,814
	118,421		Wetherspoon (J.D.) plc		1,322
	61,400		Whistler Blackcomb Holdings, Inc		876
	559,103		Whitbread plc		43,414
	271,795		William Hill plc		1,492

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,220		Wowprime Corp	$	328
	445,297		Wyndham Worldwide Corp		40,286
	1,427,571	e	Wynn Macau Ltd		3,085
	417,256		Wynn Resorts Ltd		52,524
	812,000	*	Xiao Nan Guo Restaurants Holdings Ltd		99
	325,000		YBM Sisa.com, Inc		1,202
	31,000		Yomiuri Land Co Ltd		120
	59,600	e	Yoshinoya D&C Co Ltd		650
	549,474		Yum! Brands, Inc		43,255
	6,685	e	Zeal Network SE		359
	98,800	e	Zensho Co Ltd		957
	386,000		Zhuhai Holdings Investment Group Ltd		65
	817,111	*,e	Zoe’s Kitchen, Inc		27,202
			TOTAL CONSUMER SERVICES		2,412,730
DIVERSIFIED FINANCIALS - 3.6%
	955,633		3i Group plc		6,828
	31,583		ABC Arbitrage		172
	852,131		Aberdeen Asset Management plc		5,797
	57,831		Ackermans & Van Haaren		6,784
	313,750	*,e	Acom Co Ltd		1,088
	87,300		Aeon Credit Service M BHD		311
	104,748	e	AEON Financial Service Co Ltd		2,642
	255,768	*	Affiliated Managers Group, Inc		54,934
	794,672		AFP Habitat S.A.		1,176
	1,389,533	e,m	African Bank Investments Ltd		1
	69,116		AGF Management Ltd		455
	286,600	*,e	Aiful Corp		1,016
	1,647,400		AIRA Capital Co Ltd		173
	25,674		Aker ASA (A Shares)		562
	1,376,781		Al Waha Capital PJSC		1,069
	105,676	e	Alaris Royalty Corp		2,755
	1,200,070	*	Alexander Forbes Group Holdings Ltd		1,019
	213,556	*	Allied Minds plc		2,202
	1,013,264	*	Ally Financial, Inc		21,258
	2,010,759		American Express Co		157,080
	1,622,489		Ameriprise Financial, Inc		212,286
	5,257,824	*,g	Anima Holding S.p.A		38,873
	672,049	e	ARA Asset Management Ltd		790
	68,491	e	Arlington Asset Investment Corp (Class A)		1,648
	155,860		Arrow Global Group plc		573
	59,332		Artisan Partners Asset Management, Inc		2,697
	2,866	*	Ashford, Inc		340
	359,200	e	Ashmore Group plc		1,514
	12,981	*,m	Asia Pacific Investment Partners Limited		89
	1,387,200		Asia Plus Group Holdings Securities		164
	8,241,300	e	Asian Pay Television Trust		5,345
	20,502		Aurelius AG.		856
	215,058		Australian Stock Exchange Ltd		6,766
	20,630	e	Avanza AB		720
	299,466		Ayala Corp		5,322
	2,215	*,m	Ayala Corp Preferred		0	^

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,846		Azimut Holding S.p.A.	$	2,903
	30,538		Bajaj Auto Finance Ltd		2,005
	67,138		Banca Generali S.p.A		2,105
	68,917		Banca IFIS S.p.A.		1,438
	271,979		Banca Profilo S.p.A.		110
	1,556,768		Bank of New York Mellon Corp		62,644
	689,458		BGC Partners, Inc (Class A)		6,515
	204,979		BinckBank NV		1,666
	220,474		BlackRock, Inc		80,658
	560,400		Blackstone Group LP		21,794
	1,935,386		BM&F Bovespa S.A.		6,768
	1,769,100	e	Bolsa Mexicana de Valores S.A. de C.V.		3,007
	85,761		Bolsas y Mercados Espanoles		3,819
	322,645	*	Brait S.A.		2,221
	369,525		Brewin Dolphin Holdings plc		1,696
	196,209	e	BT Investment Management Ltd		1,368
	199,434		Bure Equity AB		1,145
	640,200		Bursa Malaysia BHD		1,483
	105,754		Calamos Asset Management, Inc (Class A)		1,422
	23,483	*	Callidus Capital Corp		294
	278,419		Canaccord Financial, Inc		1,433
	1,271,099		Capital One Financial Corp		100,188
	1,335,300		Capital Securities Corp		437
	98,120		Cash America International, Inc		2,286
	230,324		CBOE Holdings, Inc		13,222
	69,336	e	Cembra Money Bank AG.		4,242
	458,000	*	Central China Securities Co Ltd		429
	74,801		Century Leasing System, Inc		2,279
	87,469	*,e	Cerved Information Solutions S.p.A		582
	221,416		CETIP S.A.-Balcao Organizado de Ativos e Derivativos		2,210
	2,951,086		Chailease Holding Co Ltd		7,348
	832,315		Challenger Financial Services Group Ltd		4,518
	3,815,910		Charles Schwab Corp		116,156
	274,000	*	China Assurance Finance Group Ltd		29
	2,181,000		China Bills Finance Corp		822
	13,333,200	*	China Cinda Asset Management Co Ltd		6,604
	1,062,137		China Everbright Ltd		2,768
	3,410,000	*	China Financial International Investments Ltd		387
	3,200,000	e	China Galaxy Securities Co Ltd		3,660
	3,440,000	e	China LNG Group Ltd		594
	94,665	e	China Merchants China Direct Investments Ltd		174
	367,064	e	CI Financial Corp		10,262
	18,936	e	CIFC Corp		145
	628,526	*	Citadel Capital Corp		211
	1,641,903		CITIC Securities Co Ltd		6,099
	355,239		Close Brothers Group plc		8,194
	200,271		CME Group, Inc		18,968
	95,831	*	Coface S.A.		1,185
	53,298	e	Cohen & Steers, Inc		2,183
	1,464,663	e	Compartamos SAB de C.V.		2,638
	97,525	*	Consumer Portfolio Services, Inc		682
	533,954		Coronation Fund Managers Ltd		4,316

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,703		Corp Financiera Alba	$	1,394
	136,992		Corp Financiera Colombiana S.A.		1,880
	397,778	*	Cowen Group, Inc		2,068
	27,750	*,e	Credit Acceptance Corp		5,411
	20,630		Credit Analysis & Research Ltd		488
	941,600	e	Credit China Holdings Ltd		196
	124,364		Credit Saison Co Ltd		2,231
	1,635,746		Credit Suisse Group		44,008
	725,947	e	Credito Real SAB de C.V.		1,702
	940,800		CSOP FTSE China A50 ETF CNY RQFII		1,779
	222,317		Daewoo Securities Co Ltd		2,585
	34,545		Daishin Securities Co Ltd		370
	17,373		Daishin Securities Co Ltd PF		112
	4,177,760		Daiwa Securities Group, Inc		32,887
	72,059	*	DeA Capital S.p.A.		143
	882,778		Deutsche Bank AG.		30,595
	40,137	*	Deutsche Beteiligungs AG.		1,305
	183,133		Deutsche Boerse AG.		14,945
	9,837		Diamond Hill Investment Group, Inc		1,574
	1,279,894		Discover Financial Services		72,122
	2,213,416		Dubai Financial Market		903
	45,541	*,e	Dundee Corp		422
	3,687,329	*	E*Trade Financial Corp		105,292
	247,374		Eaton Vance Corp		10,301
	11,715	e	EFG Financial Products Holding AG.		3,993
	745,349	e	EFG International		9,191
	1,016,648	*	Egypt Kuwait Holding Co		600
	381,168	*	Egyptian Financial Group-Hermes Holding		792
	518,035	*	Element Financial Corp		7,002
	78,238	*,e	Encore Capital Group, Inc		3,254
	134,540	*	Enova International, Inc		2,649
	39,653		Eurazeo		2,718
	716,065	*,g	Euronext NV		30,260
	212,772		Evercore Partners, Inc (Class A)		10,992
	82,689		Exor S.p.A.		3,751
	177,023	*,e	Ezcorp, Inc (Class A)		1,616
	5,625,395		Far East Horizon Ltd		5,145
	26,806	*	FBR & Co		619
	125,420	e	Federated Investors, Inc (Class B)		4,250
	25,000		Fiera Capital Corp		272
	1,124	e	Fifth Street Asset Management, Inc		13
	143,967	e	Financial Engines, Inc		6,022
	172,200	e	Financial Products Group Co Ltd		1,900
	84,671	*	First Cash Financial Services, Inc		3,939
	2,958,785	e	First Pacific Co		2,954
	7,118,504		FirstRand Ltd		32,724
	227,477	e	FlexiGroup Ltd		596
	209,913	*,e	FNFV Group		2,960
	323,176		Franklin Resources, Inc		16,585
	15,540,286		Fubon Financial Holding Co Ltd		27,857
	23,290,887		Fuhwa Financial Holdings Co Ltd		11,709
	30,200	e	Fuyo General Lease Co Ltd		1,213

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	75,504	e	Gain Capital Holdings, Inc	$	738
	16,809		GAMCO Investors, Inc (Class A)		1,320
	25,135		Gimv NV		1,132
	80,181		Gluskin Sheff + Associates, Inc		1,694
	51,784		GMP Capital, Inc		235
	1,055,623		Goldman Sachs Group, Inc		198,425
	108,708	*	Green Dot Corp		1,731
	79,135	e	Greenhill & Co, Inc		3,138
	88,972		Groupe Bruxelles Lambert S.A.		7,377
	883	*,m	Groupe Bruxelles Lambert S.A. - (Strip VVPR)		0	^
	452,409		Grupo de Inversiones Suramericana S.A.		5,840
	98,371		Grupo de Inversiones Suramericana S.A. (Preference)		1,267
	148,700		Grupo Financiero Interacciones S.A. de C.V.		984
	223,400		GT Capital Holdings, Inc		6,688
	692,240	*	Gulf General Investment Co		118
	1,343,600	e	Guotai Junan International Hol		1,192
	960,522		Haci Omer Sabanci Holding AS		3,387
	3,220,812	e	Haitong Securities Co Ltd		7,859
	19,645		Hankook Tire Worldwide Co Ltd		373
	37,288		Hanwha Securities Co		172
	254,933		Hargreaves Lansdown plc		4,348
	68,651		Hellenic Exchanges S.A.		345
	2,425,679		Henderson Group plc		10,070
	241,440		HFF, Inc (Class A)		9,064
	205,100		Hitachi Capital Corp		4,329
	10,192		HMC Investment Securities Co Ltd		113
	1,645,141		Hong Kong Exchanges and Clearing Ltd		40,326
	156,800		Hyundai Securities Co		1,193
	29,100		IBJ Leasing Co Ltd		602
	170,134		ICAP plc		1,327
	172,900	e	Ichigo Holdings Co Ltd		452
	38,100		Ichiyoshi Securities Co Ltd		412
	1,641,704		IFCI Ltd		876
	371,193		IG Group Holdings plc		3,898
	199,054	e	IGM Financial, Inc		7,074
	159,717	e	IMF Australia Ltd		259
	309,584		India Infoline Ltd		882
	407,644		Indiabulls Housing Finance Ltd		3,632
	18,736		Indiabulls Securities Ltd		10
	204,490		Industrivarden AB		3,837
	224,203		Infrastructure Development Finance Co Ltd		597
	17,167,537	*	ING Groep NV		251,470
	834,781	*,e	ING Groep NV (ADR)		12,196
	120,868		Interactive Brokers Group, Inc (Class A)		4,112
	179,983	*,m	Interbolsa S.A.		0	^
	379,151		IntercontinentalExchange Group, Inc		88,445
	952,251		Intermediate Capital Group plc		7,103
	236,465		International Personal Finance plc		1,677
	47,391	*	INTL FCStone, Inc		1,409
	66,818		Inversiones La Construccion S.A.		782
	576,457		Invesco Ltd		22,880
	256,265		Investec Ltd		2,121

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,222,389		Investec plc	$	10,138
	127,643	*	Investment Technology Group, Inc		3,869
	799,453		Investor AB (B Shares)		31,824
	772,728	e	IOOF Holdings Ltd		6,038
	47,319	e	iShares China Large-Cap ETF		2,103
	247,376	e	iShares MSCI Canada Index Fund		6,724
	1,287,834	e	iShares MSCI EAFE Index Fund		82,640
	626,331	e	iShares MSCI Emerging Markets		25,135
	87,800		Iwai Securities Co Ltd		1,237
	156,300		J Trust Co Ltd		1,346
	144,000		Jaccs Co Ltd		753
	85,017		Jafco Co Ltd		3,158
	509,775		Janus Capital Group, Inc		8,763
	1,275,400		Japan Securities Finance Co Ltd		8,054
	38,998	*,e	JG Wentworth Co		405
	1,542,018		Jih Sun Financial Holdings Co Ltd		410
	143,233		JM Financial Ltd		109
	158,002		JSE Ltd		1,604
	225,617		Julius Baer Group Ltd		11,277
	412,189		Julius Baer Holding AG.		8,549
	371,950		Jupiter Investment Management Group Ltd		2,257
	846,000		K1 Ventures Ltd		126
	2,250,300	e	kabu.com Securities Co Ltd		14,761
	31,712	*	KBC Ancora		1,084
	159,621	*	KCG Holdings, Inc		1,957
	553,242		Kinnevik Investment AB (Series B)		18,468
	9,923		KIWOOM Securities Co Ltd		630
	43,277		Korea Investment Holdings Co Ltd		2,448
	586,300		Krungthai Card PCL		1,742
	16,166		Kyobo Securities Co		181
	21,100		Kyokuto Securities Co Ltd		311
	270,721	*,e	Ladenburg Thalmann Financial Services, Inc		1,045
	902,855		Lazard Ltd (Class A)		47,481
	1,151,493		Legg Mason, Inc		63,562
	644,902		Leucadia National Corp		14,375
	784,964		London Stock Exchange Group plc		28,549
	196,966	e	LPL Financial Holdings, Inc		8,639
	95,671		Lundbergs AB (B Shares)		4,367
	348,353		Macquarie Group Ltd		20,248
	106,392		Magellan Financial Group Ltd		1,585
	299,954		Mahindra & Mahindra Financial Services Ltd		1,219
	25,539,231		Man Group plc		77,035
	565,546		Manappuram General Finance & Leasing Ltd		293
	50,469		Manning & Napier, Inc		657
	685,085	*	Marfin Investment Group S.A		96
	167,002		MarketAxess Holdings, Inc		13,844
	30,982		Marlin Business Services Corp		621
	237,700		Marusan Securities Co Ltd		2,425
	2,141,772		Masterlink Securities Corp		718
	416,600	e	Matsui Securities Co Ltd		3,779
	1,062,065		McGraw-Hill Financial, Inc		109,818
	10,803,560		Mediobanca S.p.A.		103,363

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,053	e	Medley Management, Inc	$	12
	21,192		Meritz finance Holdings Co Ltd		263
	649,847		Meritz Securities Co Ltd		3,315
	11,747,404		Metro Pacific Investments Corp		1,267
	76,364		Mirae Asset Securities Co Ltd		3,594
	52,800		Mito Securities Co Ltd		196
	361,154		Mitsubishi UFJ Lease & Finance Co Ltd		1,785
	53,955		MLP AG.		224
	88,848		Moelis & Co		2,676
	595,000		Monex Beans Holdings, Inc		1,589
	1,324,996		Moody’s Corp		137,535
	8,996,157		Morgan Stanley		321,073
	252,751		MSCI, Inc (Class A)		15,496
	1,222,300	*	Mulpha International BHD		129
	1,179,500		Multi-Purpose Holdings BHD		856
	106,003		NASDAQ OMX Group, Inc		5,400
	864,233		Navient Corp		17,570
	65,144		Nelnet, Inc (Class A)		3,083
	100,006	*	NewStar Financial, Inc		1,173
	54,938		NICE Holdings Co Ltd		983
	38,861		Nicholas Financial, Inc		544
	1,646,739		Nomura Holdings, Inc		9,672
	84,411		Nordnet AB (Series B)		322
	232,741		Northern Trust Corp		16,210
	349,341		NorthStar Asset Management Group, Inc		8,154
	3,367,866	e	NZX Ltd		2,795
	581,000		Okasan Holdings, Inc		4,610
	67,466		OM Asset Management plc		1,258
	29,114	*	On Deck Capital, Inc		620
	95,253		Onex Corp		5,531
	35,195		Oppenheimer Holdings, Inc		826
	14,659		Oresund Investment AB		294
	377,500	*	Orient Corp		613
	3,439,570		ORIX Corp		48,330
	320,883		Osaka Securities Exchange Co Ltd		9,290
	387,475		OSK Holdings BHD		229
	218,068	e	OzForex Group Ltd		401
	11,805		Pargesa Holding S.A.		828
	13,714		Partners Group		4,089
	353,322		Peregrine Holdings Ltd		759
	517,000	*,m	Peregrine Investment Holdings		0	^
	71,419		Perpetual Trustees Australia Ltd		2,982
	180,101	*,e	PHH Corp		4,353
	82,264		Philippine Stock Exchange, Inc		582
	76,416	*	Pico Holdings, Inc		1,239
	217,788	*	Pioneers Holding		310
	56,608	*	Piper Jaffray Cos		2,970
	521,375		Platinum Asset Mangement Ltd		3,097
	376,499	e	Plus500 Ltd		3,812
	121,584	*	PMC Fincorp Ltd		81
	13,200		Pocket Card Co Ltd		60
	643,446		Power Finance Corp Ltd		2,809

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	136,315	*,e	PRA Group, Inc	$	7,405
	990,509		President Securities Corp		515
	213,375		Provident Financial plc		8,512
	34,797		Pzena Investment Management, Inc (Class A)		319
	7,272		Qatar Industrial Manufacturing Co		90
	418,055		Ratos AB (B Shares)		2,867
	107,484		Raymond James Financial, Inc		6,103
	37,338	*	Regional Management Corp		551
	426,215		Reliance Capital Ltd		2,894
	25,928	*	Religare Enterprises Ltd		140
	536,271		Remgro Ltd		11,735
	51,850		Resource America, Inc (Class A)		472
	164,858	*,e	RHJ International		831
	16,000		Ricoh Leasing Co Ltd		475
	921,291		RMB Holdings Ltd		5,300
	908,000	*,e	Rowsley Ltd		121
	580,395		Rural Electrification Corp Ltd		3,094
	69,097	*,e	Safeguard Scientifics, Inc		1,249
	59,225		Salam International Investment Co		215
	203,887		Samsung Card Co		7,536
	68,568		Samsung Securities Co Ltd		3,207
	184,259	e	Santander Consumer USA Holdings, Inc		4,264
	288,100	*,e	Sawada Holdings Co Ltd		2,291
	187,844		SBI Holdings, Inc		2,274
	99,875		Schroders plc		4,731
	524,162		SEI Investments Co		23,110
	5	*,m	SFCG Co Ltd		0	^
	199,957		Shriram Transport Finance Co Ltd		3,564
	781,825	*	SHUAA Capital PSC		129
	23,786		Silvercrest Asset Management Group, Inc		339
	1,190,156		Singapore Exchange Ltd		7,057
	255,974	*	SK Securities Co Ltd		277
	70,275	*	SKS Microfinance Pvt Ltd		515
	985,014		SLM Corp		9,141
	768,475	*,e,m	SNS Reaal		8
	6,200	*	Societe Fonciere Financiere et de Participations FFP		462
	82,400	e	Sparx Group Co Ltd		149
	4,500		SPDR Trust Series 1		929
	83,486	*,e	Springleaf Holdings, Inc		4,322
	159,686	e	Sprott, Inc		340
	208,692		SREI Infrastructure Finance Ltd		142
	478,100	*	Srisawad Power 1979 PCL		573
	2,463,842		State Street Corp		181,166
	229,275	*	Stifel Financial Corp		12,782
	4,941,000		Sun Hung Kai & Co Ltd		4,397
	43,136		Sundaram Finance Ltd		1,046
	196,575	*	SVG Capital plc		1,473
	9,857		Swissquote Group Holding S.A.		275
	3,295,165	*	Synchrony Financial		100,008
	270,797		T Rowe Price Group, Inc		21,929
	556,632	e	Tai Fook Securities Group Ltd		386
	345,000		Taiwan Acceptance Corp		857

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	170,000	*	Takagi Securities Co Ltd	$	380
	188,824		Tamburi Investment Partners S.p.A.		731
	310,948		TD Ameritrade Holding Corp		11,586
	78,546	*	Tilak Finance Ltd		61
	24,945	*,e	Tiptree Financial, Inc		165
	34,768	e	TMX Group Ltd		1,494
	328,980		Tokai Tokyo Securities Co Ltd		2,534
	95,715	*	Tong Yang Investment Bank		537
	210,000		Toyo Securities Co Ltd		649
	219,359	e	Tricon Capital Group, Inc		1,940
	230,632		Tullett Prebon plc		1,275
	9,026,841		UBS AG.		169,263
	999,114		UOB-Kay Hian Holdings Ltd		1,081
	124,237	*,e	Uranium Participation Corp		552
	840,000		Value Partners Group Ltd		792
	26,344		Virtus Investment Partners, Inc		3,445
	59,077		Vontobel Holding AG.		2,502
	80,011	*,e	Vostok Nafta Investment Ltd (ADR)		427
	1,285,152		Voya Financial, Inc		55,403
	123,091		Waddell & Reed Financial, Inc (Class A)		6,098
	130,399	*,e	Walter Investment Management Corp		2,106
	55,969		Warsaw Stock Exchange		718
	2,841,403		Waterland Financial Holdings		785
	48,709		Wendel		5,806
	20,485		Westwood Holdings Group, Inc		1,235
	703,393	e	WisdomTree Investments, Inc		15,095
	9,410		Woori Financial Co Ltd		173
	153,934		Woori Investment & Securities Co Ltd		1,990
	20,544	*,e	World Acceptance Corp		1,498
	1,238,881		Zeder Investments Ltd		852
	98,900		Zenkoku Hosho Co Ltd		3,705
			TOTAL DIVERSIFIED FINANCIALS		4,500,571
ENERGY - 6.9%
	6,998		Aban Offshore Ltd		48
	542,856	*,e	Abraxas Petroleum Corp		1,764
	12,550		Adams Resources & Energy, Inc		843
	48,853,515		Adaro Energy Tbk		3,540
	386,136	*	Advantage Oil & Gas Ltd		2,079
	158,557	e	Akastor ASA		319
	150,108	*,e	Aker Solutions ASA		779
	439,400		Alam Maritim Resources BHD		80
	42,112		Alliance Holdings GP LP		2,177
	85,875		Alon USA Energy, Inc		1,423
	388,489	*,e	Alpha Natural Resources, Inc		388
	114,067	e	AltaGas Income Trust		3,806
	123,899	e	Amec Foster Wheeler plc (ADR)		1,655
	91,392		AMEC plc		1,222
	1,014,227	*	Amerisur Resources plc		451
	107,822	*,e	Amyris Biotechnologies, Inc		259
	1,819,788		Anadarko Petroleum Corp		150,697
	117,576		Anglo Pacific Group plc		144

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	69,021	*,e	Antero Resources Corp	$	2,438
	1,218,000	e	Anton Oilfield Services Group		208
	2,694,867		Apache Corp		162,581
	128,543	*,e	Approach Resources, Inc		847
	1,487,413	e	ARC Resources Ltd		25,555
	277,047	*,e	Archer Ltd		82
	58,774	e	Ardmore Shipping Corp		592
	7,506	*,e	Aspen Aerogels, Inc		55
	360,297	*,e	Athabasca Oil Corp		597
	271,971		Atwood Oceanics, Inc		7,645
	587,316	*	Australian Worldwide Exploration Ltd		534
	120,305	e,g	Avance Gas Holding Ltd		1,654
	16,354	e	Awilco Drilling plc		125
	2,518,014		Baker Hughes, Inc		160,095
	339,100		Bangchak Petroleum PCL		336
	971,913	*	Bankers Petroleum Ltd		2,080
	1,671,700		Banpu PCL (Foreign)		1,514
	143,677	*,e	Basic Energy Services, Inc		996
	328,814	e	Baytex Energy Trust		5,200
	5,081,396		Beach Petroleum Ltd		3,911
	190,766	*,e	Bellatrix Exploration Ltd		464
	2,767,738		BG Group plc		33,970
	710,020		Bharat Petroleum Corp Ltd		9,206
	170,512	*,e	Bill Barrett Corp		1,415
	568,606	*	Birchcliff Energy Ltd		3,044
	318,531	*,e	BlackPearl Resources, Inc		229
	107,088	*	Bonanza Creek Energy, Inc		2,641
	197,006	e	Bonavista Energy Trust		992
	30,527	e	Bonterra Oil & Gas Ltd		817
	59,514	e	Bourbon S.A.		1,021
	546,160		Boustead Singapore Ltd		677
	21,165,346		BP plc		137,197
	731,429	e	BP plc (ADR)		28,606
	4,721,000	*,e	Brightoil Petroleum Holdings Ltd		1,601
	123,358		Bristow Group, Inc		6,717
	3,607,774		Bumi Armada BHD		1,001
	509,424	e,g	BW LPG Ltd		4,097
	1,061,477		BW Offshore Ltd		733
	132,125	*,e	C&J Energy Services Ltd		1,471
	721,497		Cabot Oil & Gas Corp		21,306
	574,762	*	Cairn Energy plc		1,332
	959,614		Cairn India Ltd		3,284
	376,622	e	Calfrac Well Services Ltd		2,480
	331,245	e	California Resources Corp		2,521
	174,077	*,e	Callon Petroleum Co		1,300
	927,472		Caltex Australia Ltd		24,615
	362,736	e	Cameco Corp (Toronto)		5,055
	501,463	*	Cameron International Corp		22,626
	157,724	*,e	Canacol Energy Ltd		355
	669,962	e	Canadian Energy Services & Technology Corp		2,841
	2,003,645		Canadian Natural Resources Ltd (Canada)		61,412
	982,086	e	Canadian Oil Sands Trust		7,638

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	93,200		CanElson Drilling, Inc	$	285
	303,610		Canyon Services Group, Inc		1,582
	266,654		Capital Product Partners LP		2,533
	54,753	e	CARBO Ceramics, Inc		1,671
	197,700	e	Cardinal Energy Ltd		2,273
	179,602	*	Carrizo Oil & Gas, Inc		8,917
	1,467,462	e	Cenovus Energy, Inc (Toronto)		24,737
	152,100	*,e	Cequence Energy Ltd		112
	1,643,918	*	Cheniere Energy, Inc		127,239
	864,068	e	Chesapeake Energy Corp		12,235
	6,528,541		Chevron Corp		685,366
	6,359,906	e	China Coal Energy Co		3,509
	4,299,826		China Oilfield Services Ltd		7,160
	4,073,287	e	China Shenhua Energy Co Ltd		10,390
	5,497,000	e	China Suntien Green Energy Cor		1,330
	398,000	*	Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd		86
	400,676		Cimarex Energy Co		46,114
	16,197	*,e	Clayton Williams Energy, Inc		820
	216,966	*,e	Clean Energy Fuels Corp		1,158
	212,534	*,e	Cloud Peak Energy, Inc		1,237
	39,358,700		CNOOC Ltd		55,548
	1,628,763		Coal India Ltd		9,433
	512,442	*	Cobalt International Energy, Inc		4,822
	2,302,807	*	Columbia Pipeline Partners LP		63,765
	163,765	*,e	Compagnie Generale de Geophysique S.A.		929
	174,028	e	Comstock Resources, Inc		621
	1,768,031	*	Concho Resources, Inc		204,950
	3,043,743		ConocoPhillips		189,503
	448,122	e	Consol Energy, Inc		12,498
	63,037	*	Contango Oil & Gas Co		1,387
	1,829,683	*,e	Continental Resources, Inc		79,902
	62,908	e	Core Laboratories NV		6,573
	241,428		Cosan SA Industria e Comercio		2,110
	578,000	e	Cosmo Oil Co Ltd		780
	302,071	e	Crescent Point Energy Corp		6,735
	116,728	*	Crew Energy, Inc		439
	23,375	e	CropEnergies AG.		70
	152,147	e	CVR Energy, Inc		6,475
	2,886,362	*	Dana Gas PJSC		313
	182,350		Dayang Enterprise Holdings BHD		115
	191,815	e	Deep Sea Supply plc		86
	88,965	*	DeeThree Exploration Ltd		447
	7,411		Delek Group Ltd		1,907
	266,863		Delek US Holdings, Inc		10,608
	156,325	*	Delphi Energy Corp		180
	1,173,842	e	Denbury Resources, Inc		8,557
	478,621	*,e	Denison Mines Corp		382
	99,477	*,e	Det Norske Oljeselskap ASA		547
	634,857		Devon Energy Corp		38,288
	294,511	e	DHT Holdings, Inc		2,056
	62,575	e	Diamond Offshore Drilling, Inc		1,676

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,411,588	*	Diamondback Energy, Inc	$	108,466
	628,315	*,e	DNO International ASA		819
	31,701	*	Dorian LPG Ltd		413
	533,318		Dragon Oil plc		4,705
	365,718	*	Dresser-Rand Group, Inc		29,385
	398,174	*,e	Drillsearch Energy Ltd		328
	92,408	*	Dril-Quip, Inc		6,320
	384,000		Dyna-Mac Holdings Ltd		88
	89,892	*,e	Eclipse Resources Corp		505
	9,275,989		Ecopetrol S.A.		7,046
	302,037	*,e	Emerald Oil, Inc		223
	978,817		Empresas COPEC S.A.		11,379
	71,960	e	Enbridge Income Fund		2,119
	1,072,847	e	Enbridge, Inc		51,713
	1,734,210		EnCana Corp		19,361
	171,237		Enerflex Ltd		2,077
	484,997		Energen Corp		32,010
	3,257,700		Energy Absolute PCL (Foreign)		2,525
	1,307,200		Energy Earth PCL		186
	1,186,625	*,e	Energy Resources of Australia Ltd		1,130
	327,909	e	Enerplus Resources Fund		3,324
	2,831,092		ENI S.p.A.		49,001
	1,479,556	*,e	Enquest plc (London)		762
	2,298	e	Ensco plc		48
	129,677	e	Ensign Energy Services, Inc		1,017
	4,063,597		EOG Resources, Inc		372,591
	51,990	*,e	EP Energy Corp		545
	347,008		EQT Corp		28,757
	68,307	*	Era Group, Inc		1,424
	189,264		ERG S.p.A.		2,477
	137,800		Essential Energy Services Ltd		112
	2,755		Esso SA Francaise		134
	1,358,000	*	Esso Thailand PCL (Foreign)		246
	95,265	*	Etablissements Maurel et Prom		696
	80,259	*	Euronav NV		948
	53,074		Evolution Petroleum Corp		316
	663,485	e	EXCO Resources, Inc		1,214
	31,625		Exmar NV		324
	407,898		Exterran Holdings, Inc		13,693
	239,330	e	Exxaro Resources Ltd		1,976
	14,009,039	d	Exxon Mobil Corp		1,190,768
	1,279,860	e	Ezion Holdings Ltd		999
	4,100,408	e	Ezra Holdings Ltd		1,250
	233,657	*	Faroe Petroleum plc		282
	445,006	*	FMC Technologies, Inc		16,470
	70,025	*,e	FMSA Holdings, Inc		507
	1,624,306		Formosa Petrochemical Corp		3,554
	229,315	*	Forum Energy Technologies, Inc		4,495
	124,711	e	Frank’s International NV		2,332
	31,070	e	Fred Olsen Energy ASA		222
	176,042	e	Freehold Royalty Trust		2,494
	239,104	*,e	Frontline Ltd		536

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	73,726		Fugro NV	$	1,978
	167,374	*,e	FX Energy, Inc		209
	264,478		Galp Energia SGPS S.A.		2,860
	140,145	e	GasLog Ltd		2,722
	205,232	*,e	Gastar Exploration, Inc		538
	9,619,976		Gazprom OAO (ADR)		45,284
	199,298		Gazpromneft OAO (ADR)		2,638
	44,296		Gaztransport Et Technigaz S.A.		2,614
	9,290,000	*,e	Genesis Energy Holdings Ltd		213
	59,763	*,e	Geospace Technologies Corp		987
	865,526	e	Gibson Energy, Inc		17,754
	33,908	*,e	Glori Energy, Inc		72
	102,133	e	Golar LNG Ltd		3,399
	80,000	*	Gran Tierra Energy, Inc		218
	130,940		Great Eastern Shipping Co Ltd		766
	106,417		Green Plains Renewable Energy, Inc		3,038
	213,297	*	Grupa Lotos S.A.		1,524
	84,636		GS Holdings Corp		3,269
	148,448		Gujarat Mineral Development Corp Ltd		266
	46,833		Gulf International Services OSC		1,232
	46,565		Gulf Island Fabrication, Inc		692
	942,945	*,e	Gulf Keystone Petroleum Ltd		511
	95,451	e	Gulfmark Offshore, Inc		1,245
	160,828	*	Gulfport Energy Corp		7,384
	880,357	*,e	Halcon Resources Corp		1,356
	36,906	e	Hallador Petroleum Co		431
	3,130,884		Halliburton Co		137,383
	1,505		Hankook Shell Oil Co Ltd		598
	83,398		Hargreaves Services plc		522
	143,557	*,e	Harvest Natural Resources, Inc		64
	360,738	*	Helix Energy Solutions Group, Inc		5,397
	265		Hellenic Petroleum S.A.		1
	189,337	e	Helmerich & Payne, Inc		12,888
	1,045,291		Hess Corp		70,944
	370,800	*	Hibiscus Petroleum BHD		76
	727,000	e	Hilong Holding Ltd		176
	187,861		Hindustan Petroleum Corp Ltd		1,951
	39,497	e	Hoegh LNG Holdings Ltd		452
	776,745		HollyFrontier Corp		31,280
	2,129,000	e	Honghua Group Ltd		247
	3,525,437	*,e	Horizon Oil Ltd		295
	122,607	*,e	Hornbeck Offshore Services, Inc		2,306
	134,156		Hunting plc		976
	281,304	e	Husky Energy, Inc		5,741
	779,400	*	Icon Offshore BHD		140
	18,594		Idemitsu Kosan Co Ltd		324
	204,789	*	IGAS Energy plc		79
	860,856	e	Imperial Oil Ltd		34,358
	17,143	*,e	Independence Contract Drilling, Inc		119
	3,057,835		Inner Mongolia Yitai Coal Co		4,467
	1,473,302		Inpex Holdings, Inc		16,234
	537,789	e	Inter Pipeline Ltd		13,859

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	649,198	*	ION Geophysical Corp	$	1,409
	96,673	*	Ipek Matbacilik Sanayi Ve Ticaret AS		87
	18,613,107		IRPC PCL (Foreign)		2,457
	2,767	*,e	Isramco, Inc		348
	351,784	*	Ithaca Energy, Inc		178
	149,053		Itochu Enex Co Ltd		1,229
	4,800	e	Japan Drilling Co Ltd		158
	94,800		Japan Petroleum Exploration Co		3,212
	379,861		John Wood Group plc		3,565
	40,846	*,e	Jones Energy, Inc (Class A)		367
	2,096,548	e	JX Holdings, Inc		8,067
	192,091	*,e	Karoon Gas Australia Ltd		314
	87,736	*	Kelt Exploration Ltd		524
	467,242	*	Key Energy Services, Inc		850
	337,605	e	Keyera Corp		22,457
	2,984,895		Kinder Morgan, Inc		125,545
	1,429,437	*	KNM Group BHD		248
	60,249		Koninklijke Vopak NV		3,325
	212,862	*	Kosmos Energy LLC		1,684
	281,000	*,e	KrisEnergy Ltd		110
	532,503		Kvaerner ASA		395
	454,731	*,e	Laredo Petroleum Holdings, Inc		5,930
	163,200	*,e	Legacy Oil & Gas, Inc		198
	234,614	e	Lightstream Resources Ltd		165
	435,243	*,e	Liquefied Natural Gas Ltd		1,038
	498,414	e	Long Run Exploration Ltd		272
	61,927		Lubelski Wegiel Bogdanka S.A.		1,370
	1,023,501		LUKOIL (ADR)		47,304
	50,832	*,e	Lundin Petroleum AB		696
	62,843		Magellan Midstream Partners LP		4,821
	760,027	*,e	Magnum Hunter Resources Corp		2,029
	2,075,137		Marathon Oil Corp		54,182
	1,203,810		Marathon Petroleum Corp		123,258
	40,576	*	Maridive & Oil Services SAE		20
	839,371	*,e	Matador Resources Co		18,399
	161,032	*	Matrix Service Co		2,828
	113,374	e	Maurel & Prom Nigeria		407
	791,892	*,e	McDermott International, Inc		3,041
	677,016	*	MEG Energy Corp		10,937
	107,316	*	Memorial Resource Development Corp		1,904
	2,330,000	e	MIE Holdings Corp		237
	104,958	*,e	Miller Petroleum, Inc		66
	44,815	*,e	Mitcham Industries, Inc		206
	40,200	e	Modec, Inc		632
	112,445		MOL Hungarian Oil and Gas plc		4,869
	133,768		Motor Oil Hellas Corinth Refineries S.A.		990
	187,161	e	Mullen Group Ltd		2,969
	502,835		Murphy Oil Corp		23,432
	2,678,425		Nabors Industries Ltd		36,560
	28,039	*	Naphtha Israel Petroleum Corp Ltd		144
	969,083		National Oilwell Varco, Inc		48,444
	40,812	*	Natural Gas Services Group, Inc		784

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	282,341		Navios Maritime Acq Corp	$	999
	148,866	e	Neste Oil Oyj		3,906
	1,810,000	e	New Zealand Oil & Gas Ltd		764
	425,319	*	Newfield Exploration Co		14,924
	9,724,000	e	Newocean Energy Holdings Ltd		4,809
	291,873	*	Newpark Resources, Inc		2,659
	164,500		Nippon Coke & Engineering Co Ltd		156
	2,451	e	Noble Corp plc		35
	634,899		Noble Energy, Inc		31,047
	59,865	e	Nordic American Offshore Ltd		548
	305,941	e	Nordic American Tanker Shipping		3,644
	243,179	e	North Atlantic Drilling Ltd		282
	25,087	e	Northern Blizzard Resources, Inc		152
	217,591	*,e	Northern Oil And Gas, Inc		1,678
	133,259		NovaTek OAO (GDR)		9,947
	307,011	*	NuVista Energy Ltd		1,847
	266,645	*,e	Oasis Petroleum, Inc		3,792
	1,790,115		Occidental Petroleum Corp		130,678
	96,799		Ocean Yield ASA		622
	345,572		Oceaneering International, Inc		18,637
	64,308	e	Odfjell Drilling Ltd		52
	339,607		Oil India Ltd		2,469
	1,168,848	*	Oil Refineries Ltd		411
	1,678,436		Oil Search Ltd		9,158
	78,401	*	Oil States International, Inc		3,118
	131,446	e	OMV AG.		3,606
	495,672		Oneok, Inc		23,911
	1,676,363	*	Ophir Energy plc		3,347
	1,073,145		Origin Energy Ltd		9,199
	380,000	*	Pacc Offshore Services Holdings Ltd		128
	131,783	*,e	Pacific Ethanol, Inc		1,422
	1,204,300	e	Pacific Radiance Ltd		582
	1,356,489	e	Pacific Rubiales Energy Corp (Toronto)		3,234
	99,104	*	Painted Pony Petroleum Ltd		463
	1,522,181	*,e	Paladin Resources Ltd		432
	37,978		Panhandle Oil and Gas, Inc (Class A)		752
	293	e	Paragon Offshore plc		0	^
	45,894	*	Paramount Resources Ltd (Class A)		1,131
	144,271	*	Parex Resources, Inc		919
	419,297	*	Parker Drilling Co		1,463
	425,112	e	Parkland Income Fund		8,347
	303,282	*,e	Parsley Energy, Inc		4,846
	153,707		Pason Systems, Inc		2,422
	749,846		Patterson-UTI Energy, Inc		14,078
	5,122		Paz Oil Co Ltd		748
	494,584		PBF Energy, Inc		16,776
	131,711	*	PDC Energy, Inc		7,118
	392,602	e	Peabody Energy Corp		1,932
	678,139	e	Pembina Pipeline Income Fund		21,428
	556,435	e	Pengrowth Energy Trust		1,669
	225,784	*,e	Penn Virginia Corp		1,463
	987,808	e	Penn West Energy Trust		1,630

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	455,480		Perdana Petroleum BHD	$	152
	901,700	*	Perisai Petroleum Teknologi BHD		132
	82,574	e	Petrofac Ltd		1,162
	431,999		Petro-King Oilfield Services Ltd		61
	4,525,476		Petroleo Brasileiro S.A.		13,584
	7,195,582		Petroleo Brasileiro S.A. (Preference)		21,937
	222,353	e	Petroleum Geo-Services ASA		1,141
	432,759		Petronas Dagangan BHD		2,338
	267,998	*	Petroquest Energy, Inc		616
	509,999	e	Peyto Exploration & Development Corp		13,675
	43,819	*	PHI, Inc		1,318
	1,429,088		Phillips 66		112,326
	121,979	e	PHX Energy Services Corp		677
	585,251	*	Pioneer Energy Services Corp		3,172
	1,023,936		Pioneer Natural Resources Co		167,424
	178,171		Plains GP Holdings LP		5,055
	4,872,474		Polish Oil & Gas Co		7,061
	396,110		Polski Koncern Naftowy Orlen S.A.		6,184
	100,100	*,m	Poseidon Concepts Corp		1
	111,763	e	PrairieSky Royalty Ltd		2,637
	329,231	e	Precision Drilling Trust		2,090
	2,509,710		Premier Oil plc		4,881
	36,413	*,e	Profire Energy, Inc		49
	233,336	e	ProSafe ASA		641
	22,049,000		PT Benakat Petroleum Energy		169
	3,001,600		PT Elnusa		121
	92,837,800	*	PT Energi Mega Persada Tbk		624
	1,032,850	*	PT Golden Eagle Energy Tbk		156
	3,699,800		PT Harum Energy Indonesia Tbk		424
	1,718,300		PT Indika Energy Tbk		57
	1,546,880		PT Indo Tambangraya Megah		1,994
	3,209,600		PT Medco Energi Internasional Tbk		760
	14,584,600	*	PT Sugih Energy Tbk		454
	3,251,059		PT Tambang Batubara Bukit Asam Tbk		2,665
	887,800		PTT Exploration & Production PCL (ADR)		2,973
	4,295,884		PTT Exploration & Production PCL (Foreign)		14,385
	325,800		PTT PCL (ADR)		3,232
	2,801,419		PTT PCL (Foreign)		27,790
	339,900		QGEP Participacoes S.A.		701
	388,607	*	Quadrise Fuels International plc		69
	321,063		Questar Market Resources, Inc		6,694
	613,211	*	Raging River Exploration, Inc		4,314
	329,414	e	Range Resources Corp		17,143
	2,119,211		Reliance Industries Ltd		27,988
	120,835	*,e	Renewable Energy Group, Inc		1,114
	1,283,867		Repsol YPF S.A.		23,900
	137,274	*,e	Rex Energy Corp		511
	725,000	*,e	Rex International Holding Ltd		160
	46,921	*,e	Rex Stores Corp		2,853
	83,266	*,e	Rice Energy, Inc		1,812
	34,493	*,e	RigNet, Inc		986
	60,316	*,e	Ring Energy, Inc		641

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	116,177	*	RMP Energy Inc	$	262
	310,568	*,e	Rockhopper Exploration plc		286
	233,303	*	Rosetta Resources, Inc		3,971
	1,855,032		Rosneft Oil Co (GDR)		7,957
	517,005		Rowan Cos plc		9,156
	7,920,581		Royal Dutch Shell plc (A Shares)		235,535
	4,660,873		Royal Dutch Shell plc (B Shares)		145,188
	603,862	e	RPC, Inc		7,735
	3,185,704	*,e	RSP Permian, Inc		80,248
	61,909	*,e	Saipem S.p.A.		630
	44,000		San-Ai Oil Co Ltd		285
	150,815	*,e	Sanchez Energy Corp		1,962
	1,249,034	*,e	SandRidge Energy, Inc		2,223
	217,748		Santos Ltd		1,178
	4,610,018		Sapurakencana Petroleum BHD		2,932
	247,793	*,e	Saras S.p.A.		431
	1,012,157		Sasol Ltd		34,174
	65,667	e	Savanna Energy Services Corp		88
	191,008	*,e	SBM Offshore NV		2,374
	4,343,202		Schlumberger Ltd		362,397
	11,377		Schoeller-Bleckmann Oilfield Equipment AG.		728
	814,600	*	Scomi Energy Services BHD		114
	585,377		Scorpio Tankers, Inc		5,514
	64,721	*	SEACOR Holdings, Inc		4,509
	117,787	e	Seadrill Ltd		1,101
	223,499	e	Seadrill Ltd (Oslo Exchange)		2,093
	124,266	e	Secure Energy Services, Inc		1,586
	231,353		SemGroup Corp		18,818
	972,670	*,e	Senex Energy Ltd		232
	50	*,m	Serval Integrated Energy Services		0	^
	248,109	*,e	Seven Generations Energy Ltd		3,164
	150,415	*,e	Seventy Seven Energy, Inc		624
	241,600	*	Shandong Molong Petroleum Machinery Co Ltd		122
	22,460	*	Shanxi Guoxin Energy Corp Ltd		59
	66,402		ShawCor Ltd		1,845
	6,040		Shell Midstream Partners LP		236
	34,400		Shinko Plantech Co Ltd		254
	199,250	e	Ship Finance International Ltd		2,949
	201,558		Showa Shell Sekiyu KK		1,841
	1,133,800		Siamgas & Petrochemicals PCL (Foreign)		404
	81,000		Sinanen Co Ltd		307
	982,000	e	Sinopec Kantons Holdings Ltd		709
	121,100		SK Energy Co Ltd		10,388
	13,119		SK Gas Co Ltd		1,063
	449,628		Soco International plc		1,039
	61,059		S-Oil Corp		3,532
	468,270	*,e	Songa Offshore SE		84
	1,089,581	*,e	Southwestern Energy Co		25,267
	245,277	*	Spartan Energy Corp		554
	477,568		Spectra Energy Corp		17,274
	103,722	*	Sprott Resource Corp		76
	822,000	e	SPT Energy Group, Inc		139

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	170,211		St. Mary Land & Exploration Co	$	8,796
	3,340,975		Statoil ASA		59,073
	191,704	*	Stone Energy Corp		2,814
	65,197	e	Subsea 7 S.A.		560
	1,898,977	e	Suncor Energy, Inc		55,490
	527,212	*,e	Sundance Energy Australia Ltd		179
	1,344,538		Superior Energy Services		30,037
	427,341	e	Surge Energy, Inc		985
	2,221,109		Surgutneftegaz (ADR)		13,624
	284,500		Surgutneftegaz (ADR) (London)		1,738
	158,600	*,e	Swift Energy Co		343
	226,158	*	Synergy Resources Corp		2,680
	725,473	e	Talisman Energy, Inc (Toronto)		5,562
	122,786		Targa Resources Investments, Inc		11,762
	423,810		Tatneft (GDR)		12,573
	258,603		Technip S.A.		15,642
	53,649	e	Tecnicas Reunidas S.A.		2,252
	78,050		Teekay Corp		3,635
	248,788	e	Teekay Tankers Ltd (Class A)		1,428
	144,036		Tenaris S.A.		2,019
	118,180		Tesco Corp		1,344
	452,243		Tesoro Corp		41,285
	182,404	*,e	Tethys Oil AB		1,255
	273,851	*	Tetra Technologies, Inc		1,692
	336,568	e	TGS Nopec Geophysical Co ASA		7,449
	1,587,657		Thai Oil PCL (Foreign)		2,534
	136,456	e	Tidewater, Inc		2,612
	71,997		TMK OAO (GDR)		216
	260,848		TonenGeneral Sekiyu KK		2,250
	85,031	e	TORC Oil & Gas Ltd		656
	54,377		Total Energy Services, Inc		604
	4,595,220	e	Total S.A.		228,415
	192,345	*	Tourmaline Oil Corp		5,821
	85,000		Toyo Kanetsu K K		161
	105,489	*,e	TransAtlantic Petroleum Ltd		563
	1,651,223	e	TransCanada Corp		70,609
	220,336		TransGlobe Energy Corp		785
	113,532	e	Transocean Ltd		1,636
	233,356	*,e	Triangle Petroleum Corp		1,174
	149,320		Trican Well Service Ltd		407
	246,337	e	Trilogy Energy Corp		1,445
	146,866	e	Trinidad Drilling Ltd		472
	593,138		Tullow Oil plc		2,487
	290,480		Tupras Turkiye Petrol Rafine		6,882
	336,118	e	Twin Butte Energy Ltd		191
	290,741	*,e	Ultra Petroleum Corp		4,544
	601,793		Ultrapar Participacoes S.A.		12,224
	234,801	*	Unit Corp		6,570
	181,532	e	US Silica Holdings Inc		6,464
	169,805	*	Vaalco Energy, Inc		416
	3,143,727		Valero Energy Corp		200,004
	721,020	*,e	Vantage Drilling Co		236

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	287,072	e	Veresen, Inc	$	3,781
	218,507	e	Vermilion Energy, Inc		9,187
	27,305	*,e	Vertex Energy, Inc		101
	148,761	e	W&T Offshore, Inc		760
	4,602,240		Wah Seong Corp BHD		1,538
	277,190	*,e	Warren Resources, Inc		247
	1,527,845	*	Weatherford International Ltd		18,792
	196,036	e	Western Energy Services Corp		961
	309,554		Western Refining, Inc		15,289
	49,077	*	Westmoreland Coal Co		1,313
	306,593	e	Whitecap Resources, Inc		3,476
	716,084	*,e	Whitehaven Coal Ltd		773
	524,466	*	Whiting Petroleum Corp		16,206
	4,176,423		Williams Cos, Inc		211,285
	1,749,647		Woodside Petroleum Ltd		45,839
	158,475		World Fuel Services Corp		9,109
	47,027		WorleyParsons Ltd		340
	357,717	*	WPX Energy, Inc		3,910
	4,860,000	*,e	Yanchang Petroleum International Ltd		182
	3,272,861	e	Yanzhou Coal Mining Co Ltd		2,779
	642,695		Z Energy Ltd		2,463
			TOTAL ENERGY		8,685,836
FOOD & STAPLES RETAILING - 1.9%
	1,322,700		7-Eleven Malaysia Holdings BHD		571
	215,226		Aeon Co Ltd		2,361
	19,400		Ain Pharmaciez Inc		768
	14,480		Al Meera Consumer Goods Co		865
	1,243,916		Alimentation Couche Tard, Inc		49,568
	346,610		Almacenes Exito S.A.		3,333
	139,440		Andersons, Inc		5,769
	106,379		Arcs Co Ltd		2,553
	75,116	e	Axfood AB		3,969
	8,300		Belc Co Ltd		241
	26,766		BGF retail Co Ltd		2,723
	241,735		BIM Birlesik Magazalar AS		4,283
	27,122		Bizim Toptan Satis Magazalari AS		159
	3,261,230		Booker Group plc		7,027
	624,350		Carrefour S.A.		20,858
	104,999		Casey’s General Stores, Inc		9,460
	67,851		Casino Guichard Perrachon S.A.		6,008
	60,300		Cawachi Ltd		1,050
	2,504,133		Centros Comerciales Sudamericanos S.A.		5,933
	50,794	*,e	Chefs’ Warehouse Holdings, Inc		1,139
	1,297,655		China Resources Enterprise		2,544
	245,906		Cia Brasileira de Distribuicao Grupo Pao de Acucar		7,377
	14,034		CJ Freshway Corp		632
	235,019	e	Clicks Group Ltd		1,769
	52,860		Cocokara Fine Holdings, Inc		1,485
	57,125		Colruyt S.A.		2,486
	981,712	e	Controladora Comercial Mexicana S.A. de C.V.		3,155
	7,091,500		Cosco Capital, Inc		1,424

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,200		Cosmos Pharmaceutical Corp	$	1,438
	1,608,995		Costco Wholesale Corp		243,755
	5,419,609		CP Seven Eleven PCL (Foreign)		6,826
	22,800		Create SD Holdings Co Ltd		970
	5,579,379		CVS Corp		575,848
	14,200		Daikokutenbussaan Co Ltd		583
	460,944		Delhaize Group		41,411
	197,108	*,e	Diplomat Pharmacy, Inc		6,816
	189,506	e	Distribuidora Internacional de Alimentacion S.A.		1,479
	47,734		Dongsuh Co, Inc		1,315
	42,942		E-Mart Co Ltd		9,001
	99,804		Empire Co Ltd		6,959
	81,642		Eurocash S.A.		704
	56,971	*,e	Fairway Group Holdings Corp		386
	73,391		FamilyMart Co Ltd		3,075
	114,730	*,e	Fresh Market, Inc		4,663
	65,615		George Weston Ltd		5,197
	271,225		Greggs plc		4,092
	15,160		Growell Holdings Co Ltd		566
	724,013	e	Grupo Comercial Chedraui S.a. DE C.V.		2,190
	350,419	e	Hakon Invest AB		11,746
	112,600		Heiwado Co Ltd		2,578
	40,855		Hyundai Greenfood Co Ltd		719
	3,032		Indiabulls Wholesale Service		1
	46,920		Ingles Markets, Inc (Class A)		2,322
	3,500		Itochu-Shokuhin Co Ltd		123
	2,830,773	e	J Sainsbury plc		10,863
	107,464		Jean Coutu Group PJC, Inc		2,297
	449,195		Jeronimo Martins SGPS S.A.		5,653
	20,400		Kato Sangyo Co Ltd		423
	158,390		Kesko Oyj (B Shares)		6,762
	2,109,079		Koninklijke Ahold NV		41,561
	3,371,363		Kroger Co		258,449
	6,900		Kusuri No Aoki Co Ltd		518
	482,814		Lawson, Inc		33,469
	50,000	*,m	Lenta Ltd		385
	76,000	*	Lenta Ltd (ADR)		585
	379,000	*,e	Lianhua Supermarket Holdings Co Ltd		194
	77,875	e	Liberator Medical Holdings, Inc		273
	79,237	e	Liquor Stores Income Fund		911
	237,368	e	Loblaw Cos Ltd		11,605
	449,664		Magnit OAO (GDR)		22,884
	70,345	e	Majestic Wine plc		313
	44,609		MARR S.p.A.		764
	100,056	e	Massmart Holdings Ltd		1,234
	103,000		Matsumotokiyoshi Holdings Co Ltd		3,665
	4,480,839	e	Metcash Ltd		5,272
	196,516		Metro AG.		6,660
	566,380		Metro, Inc		15,347
	11,100		Ministop Co Ltd		156
	24,922	*,e	Natural Grocers by Vitamin C		688
	111,306	e	North West Co Fund		2,200

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,000	e	Okuwa Co Ltd	$	347
	236,000	e	Olam International Ltd		341
	453,857	e	Pick’n Pay Holdings Ltd		804
	509,104	e	Pick’n Pay Stores Ltd		2,074
	1,369,980		President Chain Store Corp		10,297
	52,310	e	Pricesmart, Inc		4,445
	1,071,400		PT Matahari Putra Prima Tbk		324
	7,000,000		PT Modern Internasional Tbk		313
	219,353		Raia Drogasil S.A.		1,968
	22,387		Rallye S.A.		842
	5,662		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		227
	2,875,489	*	Rite Aid Corp		24,988
	3,326,730		Robinsons Retail Holdings, Inc		6,252
	135,372	*,e	Roundy’s, Inc		662
	12,379		Ryoshoku Ltd		259
	15,900		San-A Co Ltd		603
	747,197		Seven & I Holdings Co Ltd		31,400
	2,688,000		Sheng Siong Group Ltd		1,565
	726,113		Shoprite Holdings Ltd		9,817
	66,106		Shufersal Ltd		148
	37,744	*	Smart & Final Stores, Inc		664
	862,127		Sonae SPGS S.A.		1,312
	384,564		Spar Group Ltd		5,972
	147,025		Spartan Stores, Inc		4,640
	667,530	*	Sprouts Farmers Market, Inc		23,517
	38,600		Sugi Pharmacy Co Ltd		1,909
	2,617,383	e	Sun Art Retail Group Ltd		2,280
	49,200		Sundrug Co Ltd		2,554
	687,169	*	Supervalu, Inc		7,992
	997,249		Sysco Corp		37,626
	658,000		Taiwan TEA Corp		359
	7,093,322		Tesco plc		25,320
	34,376		Tsuruha Holdings, Inc		2,631
	167,826	*	United Natural Foods, Inc		12,929
	140,100	*,e	United Super Markets Holdings, Inc		1,245
	753,500	e	UNY Co Ltd		4,222
	132,200		Valor Co Ltd		2,855
	24,056		Village Super Market (Class A)		756
	2,458,815		Walgreens Boots Alliance, Inc		208,212
	15,472,496	e	Wal-Mart de Mexico SAB de C.V.		38,657
	3,385,378		Wal-Mart Stores, Inc		278,447
	51,291		Weis Markets, Inc		2,552
	1,575,342		Wesfarmers Ltd		52,607
	648,469		Whole Foods Market, Inc		33,772
	2,878,225		WM Morrison Supermarkets plc		8,226
	1,629,563		Woolworths Ltd		36,492
	541,799	*	Wumart Stores, Inc		393
	16,000		Yaoko Co Ltd		599
	36,700		Yokohama Reito Co Ltd		255
			TOTAL FOOD & STAPLES RETAILING		2,414,075

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
FOOD, BEVERAGE & TOBACCO - 4.9%
	110,546	*,e	22nd Century Group, Inc	$	95
	426,996	*,e	a2 Milk Co Ltd		178
	27,297		AarhusKarlshamn AB		1,532
	22,549	*	Advanta Ltd		151
	51,547		AGT Food & Ingredients, Inc		1,103
	306,360		Agthia Group PJSC		594
	924,885		Ajinomoto Co, Inc		20,291
	10,526	e	Alico, Inc		540
	7,932,772		Altria Group, Inc		396,797
	8,067,408		AMBEV S.A.		46,637
	40,469		Amsterdam Commodities NV		1,100
	221,593		Anadolu Efes Biracilik Ve Malt Sanayii AS		1,848
	65,017		Anheuser-Busch InBev NV (ADR)		7,926
	2,974	*,m	Anheuser-Busch InBev NV (Strip VVPR)		0	^
	333,500		Anhui Gujing Distillery Co Ltd		1,066
	358,216	*	AquaChile S.A.		224
	2,231,089		Archer Daniels Midland Co		105,754
	18,100		Ariake Japan Co Ltd		621
	20,721		Aryzta AG.		1,270
	527,844		Asahi Breweries Ltd		16,737
	675,624	*,e	Asian Citrus Holdings Ltd		55
	1,857,843		Associated British Foods plc		77,534
	85,518		Astral Foods Ltd		1,269
	29,624		Atria Group plc		317
	267,231		Austevoll Seafood ASA		1,425
	369,057	*,e	Australian Agricultural Co Ltd		451
	1,031,182		AVI Ltd		7,000
	151,159		B&G Foods, Inc (Class A)		4,449
	126,153		Bakkafrost P		2,728
	265,272		Balrampur Chini Mills Ltd		210
	2,130		Barry Callebaut AG.		2,080
	108,482	e	Bega Cheese Ltd		396
	32,027	*,e	Belvedere S.A.		505
	4,198		Binggrae Co Ltd		311
	167,299	e	Biostime Internatonal Holdings Ltd		701
	24,264	e	Bonduelle S.C.A.		626
	22,410	*,e	Boston Beer Co, Inc (Class A)		5,992
	209,159	*,e	Boulder Brands, Inc		1,993
	540,700		Boustead Plantations BHD		200
	1,322,848		BRF S.A.		26,237
	27,933		Britannia Industries Ltd		963
	279,148		British American Tobacco Malaysia BHD		5,175
	3,263,685		British American Tobacco plc		169,007
	6,761,244		Britvic plc		73,404
	575,251		Brown-Forman Corp (Class B)		51,974
	337,600	e	Bumitama Agri Ltd		247
	638,648		Bunge Ltd		52,599
	354,575		C&C Group plc		1,451
	39,551		Calavo Growers, Inc		2,034
	137,674		Calbee, Inc		5,977
	98,057	e	Cal-Maine Foods, Inc		3,830
	364,550	e	Campbell Soup Co		16,970

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	49,171	e	Carlsberg AS (Class B)	$	4,054
	322,200		Carlsberg Brewery-Malay BHD		1,181
	1,583,700	*	Century Pacific Food, Inc		709
	706,000	e	Changshouhua Food Co Ltd		429
	8,882,200		Charoen Pokphand Foods PCL		6,139
	2,411,611	e	China Agri-Industries Holdings Ltd		934
	5,708,296	e	China Huishan Dairy Holdings Co Ltd		1,015
	454,000	*	China Huiyuan Juice Group Ltd		152
	2,279,360		China Mengniu Dairy Co Ltd		12,113
	1,768,107	*,e	China Modern Dairy Holdings		589
	1,215,000	*,e,m	China Yurun Food Group Ltd		177
	322,640		Cia Cervecerias Unidas S.A.		3,353
	8,746		CJ CheilJedang Corp		2,977
	20,100		Clearwater Seafoods, Inc		220
	217,588	*	Cloetta AB		638
	265,546		Clover Industries Ltd		396
	829,663		Coca-Cola Amatil Ltd		6,793
	20,800		Coca-Cola Bottling Co Consolidated		2,352
	249,698	e	Coca-Cola Central Japan Co Ltd		5,089
	11,163,355		Coca-Cola Co		452,674
	396,359		Coca-Cola Embonor S.A.		578
	1,107,492		Coca-Cola Enterprises, Inc		48,951
	1,087,720	e	Coca-Cola Femsa S.A. de C.V.		8,683
	91,960	e	Coca-Cola Femsa SAB de C.V. (ADR)		7,344
	338,828		Coca-Cola HBC AG.		6,095
	197,079		Coca-Cola Icecek AS		3,328
	320,400	e	Coca-Cola West Japan Co Ltd		5,294
	686,600	*,e	Cofco International Ltd		301
	1,552,304		ConAgra Foods, Inc		56,706
	928,716	*	Constellation Brands, Inc (Class A)		107,926
	56,583		Corbion NV		1,073
	133,703		Cott Corp		1,250
	26,290	*	Craft Brewers Alliance, Inc		359
	523		Crown Confectionery Co Ltd		138
	2,768		Dae Han Flour Mills Co Ltd		464
	121,847		Daesang Corp		4,595
	140,877	e	Dairy Crest Group plc		923
	549,348	*	Darling International, Inc		7,696
	292,998		Davide Campari-Milano S.p.A.		2,044
	584,312		Dean Foods Co		9,659
	381,373	*,e	Deoleo S.A.		171
	234,477		Devro plc		990
	2,509,455		Diageo plc		69,347
	258,464	*,e	Diamond Foods, Inc		8,418
	3,979		Dongwon F&B Co Ltd		1,435
	1,845		Dongwon Industries Co Ltd		553
	1,011,225		Dr Pepper Snapple Group, Inc		79,361
	8,900		Dydo Drinco, Inc		358
	1,214,000	*,e,m	Dynasty Fine Wines Group Ltd		2
	77,562	*,e	Ebro Puleva S.A.		1,446
	252,298		Embotelladora Andina S.A.		640
	875,833		Embotelladoras Arca SAB de C.V.		5,380

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,328	e	Emmi AG.	$	1,841
	61,600		Ezaki Glico Co Ltd		2,490
	19,928	*,e	Farmer Bros Co		493
	9,089	*	Farmsco		105
	2,153,099		Felda Global Ventures Holdings BHD		1,260
	541,500	e	First Resources Ltd		745
	355,023		Flowers Foods, Inc		8,073
	3,510,030		Fomento Economico Mexicano S.A. de C.V.		32,931
	133,250	e	Fonterra Shareholders’ Fund		556
	121,025	e	Fresh Del Monte Produce, Inc		4,709
	30,718	*,e	Freshpet, Inc		597
	65,773		Fuji Oil Co Ltd		1,048
	31,832		Fujicco Co Ltd		515
	91,000		Fujiya Co Ltd		149
	1,664,482		General Mills, Inc		94,210
	207,114		Genting Plantations BHD		567
	1,941,500		GFPT PCL (Foreign)		680
	193,592		Glanbia plc		3,594
	9,630		GlaxoSmithKline Consumer Healthcare Ltd		969
	3,608,000	e	GMG Global Ltd		184
	7,258,954		Golden Agri-Resources Ltd		2,246
	192,435	e	GrainCorp Ltd-A		1,375
	2,467,272		Great Wall Enterprise Co		2,068
	541,721		Greencore Group plc		2,588
	565,896		Groupe Danone		38,146
	895,700		Gruma SAB de C.V.		11,371
	3,047,243	e	Grupo Bimbo S.A. de C.V. (Series A)		8,642
	613,800	e	Grupo Herdez SAB de C.V.		1,581
	1,868,500	e	Grupo Lala SAB de C.V.		3,791
	229,343	*	Hain Celestial Group, Inc		14,689
	30,780	*	Harim & Co Ltd		147
	127,353		Heineken Holding NV		8,764
	552,850		Heineken NV		42,197
	383,708		Hershey Co		38,720
	415,500		Hey Song Corp		503
	19,200		High Liner Foods, Inc		370
	2,521		Hite Holdings Co Ltd		29
	89,741	e	HKScan Oyj		561
	20,400		Hokuto Corp		380
	956,000	g	Honworld Group Ltd		667
	365,411		Hormel Foods Corp		20,774
	62,352		House Foods Corp		1,307
	638,100		Ichitan Group PCL		413
	302,600		IJM Plantations BHD		274
	416,756		Illovo Sugar Ltd		816
	2,320,000	*,e	Imperial Pacific International Holdings Ltd		407
	1,508,350		Imperial Tobacco Group plc		66,166
	578,955		InBev NV		70,728
	407,778		Indofood Agri Resources Ltd		219
	2,696,877		Indofood CBP Sukses Makmur Tbk		3,023
	264,600	e	Industrias Bachoco SAB de C.V.		1,100
	425,575		Ingredion, Inc		33,118

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,550	*	Inventure Foods, Inc	$	443
	7,273,883		IOI Corp BHD		9,015
	3,465,838		ITC Ltd		18,017
	58,500	e	Ito En Ltd		1,262
	516,000	e	Itoham Foods, Inc		2,851
	72,001		J&J Snack Foods Corp		7,683
	225,796		J.M. Smucker Co		26,131
	2,232,777		Japan Tobacco, Inc		70,589
	378,000	*,e	Japfa Ltd		140
	2,481,493		JBS S.A.		11,041
	26,616		Jinro Ltd		532
	26,521		John B. Sanfilippo & Son, Inc		1,143
	287,000		J-Oil Mills, Inc		999
	688,660	*	Juhayna Food Industries		821
	76,473	e	Kagome Co Ltd		1,188
	11,000		Kameda Seika Co Ltd		447
	1,183,500		Kaset Thai International Sugar Corp PCL		340
	21,183		Kaveri Seed Co Ltd		333
	511,559		Kellogg Co		33,737
	132,962	*	Kernel Holding S.A.		1,290
	629,024		Kerry Group plc (Class A)		42,272
	541,755	e	Keurig Green Mountain, Inc		60,530
	15,900		KEY Coffee, Inc		240
	3,098,000		Khon Kaen Sugar Industry PCL		463
	79,400		Khon Kaen Sugar Industry PCL		12
	114,671		Kikkoman Corp		3,636
	123,500		Kim Loong Resources BHD		94
	343,790		Kirin Brewery Co Ltd		4,509
	131,062		Koninklijke Wessanen NV		870
	3,041,208		Kraft Foods Group, Inc		264,935
	268,381		KT&G Corp		21,457
	518,595		Kuala Lumpur Kepong BHD		3,194
	3,260		KWS Saat AG.		952
	118,353		Lancaster Colony Corp		11,264
	165,440		Lance, Inc		5,287
	88,985	*	Landec Corp		1,241
	79,737		Leroy Seafood Group ASA		2,321
	1,057,987		Lien Hwa Industrial Corp		725
	14,022	e	Lifeway Foods, Inc		300
	32,131	e	Limoneira Co		700
	554		Lindt & Spruengli AG.		2,965
	29		Lindt & Spruengli AG. (Registered)		1,835
	1,505,388		Lorillard, Inc		98,377
	532		Lotte Chilsung Beverage Co Ltd		827
	810		Lotte Confectionery Co Ltd		1,303
	2,579		Lotte Samkang Co Ltd		1,639
	34,946		M Dias Branco S.A.		943
	5,767		Maeil Dairy Industry Co Ltd		203
	512,600		Malayan Flour Mills BHD		209
	117,282	e	Maple Leaf Foods, Inc		2,146
	263,200	*	Marfrig Global Foods S.A.		333
	87,000		Marudai Food Co Ltd		296

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,500		Maruha Nichiro Corp	$	557
	287,619		McCormick & Co, Inc		22,178
	60,233		McLeod Russel India Ltd		231
	930,987		Mead Johnson Nutrition Co		93,592
	158,300		Megmilk Snow Brand Co Ltd		1,904
	110,577		MEIJI Holdings Co Ltd		13,469
	84,800	*	Minerva S.A.		195
	244,000		Mitsui Sugar Co Ltd		857
	377,646		Molson Coors Brewing Co (Class B)		28,116
	6,063,658		Mondelez International, Inc		218,837
	1,220,217	*	Monster Beverage Corp		168,872
	222,302		Morinaga & Co Ltd		781
	179,000		Morinaga Milk Industry Co Ltd		679
	11,967	*	Muhak Co Ltd		487
	813,893	*	Multiexport Foods S.A.		160
	507,000		Namchow Chemical Industrial Ltd		1,092
	386		Namyang Dairy Products Co Ltd		256
	58,066	*	National Beverage Corp		1,417
	5,912	e	Naturex		323
	33,229		Nestle India Ltd		3,689
	4,550,071		Nestle S.A.		342,631
	399,000		Nichirei Corp		2,235
	216,000		Nippon Beet Sugar Manufacturing Co Ltd		356
	125,000		Nippon Flour Mills Co Ltd		618
	566,705		Nippon Meat Packers, Inc		13,059
	777,366		Nippon Suisan Kaisha Ltd		2,358
	377,000		Nisshin Oillio Group Ltd		1,400
	189,207		Nisshin Seifun Group, Inc		2,227
	61,173		Nissin Food Products Co Ltd		3,006
	8,562		Nong Shim Co Ltd		1,878
	1,495		Nong Shim Holdings Co Ltd		136
	5,380		Nong Woo Bio Co Ltd		102
	77,049		Oceana Group Ltd		639
	106,025		Oldtown BHD		49
	72,588	*	Omega Protein Corp		994
	214,200	e	Organizacion Cultiba SAB de C.V.		285
	68,151		Origin Enterprises plc		597
	3,528		Orion Corp		3,680
	238,316		Orkla ASA		1,799
	33,687		Osem Investments Ltd		674
	2,393		Ottogi Corp		1,288
	867,076		PAN Fish ASA		9,934
	5,826,332		PepsiCo, Inc		557,114
	1,745,000		Pepsi-Cola Products Philippine		159
	280,943		Pernod-Ricard S.A.		33,219
	72,987	*,m	Pescanova S.A.		1
	838,000	e	Petra Foods Ltd		2,332
	1,402		Philip Morris CR		610
	4,159,118		Philip Morris International, Inc		313,306
	1,238,895	e	Pilgrim’s Pride Corp		27,987
	38,497		Pinar SUT Mamulleri Sanayii AS		357
	1,969,564		Pinnacle Foods, Inc		80,378

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	172,596	*,e	Post Holdings, Inc	$	8,084
	521,590		PPB Group BHD		2,166
	714,583	*	Premier Foods plc		449
	34,109	e	Premium Brands Holdings Corp		784
	117,000		Prima Meat Packers Ltd		326
	1,339,715		PT Astra Agro Lestari Tbk		2,487
	5,692,200		PT Austindo Nusantara Jaya		514
	11,737,900		PT BW Plantation Tbk		303
	7,986,810		PT Charoen Pokphand Indonesia Tbk		2,164
	1,021,668		PT Gudang Garam Tbk		3,983
	10,222,931		PT Indofood Sukses Makmur Tbk		5,822
	4,367,500		PT Japfa Comfeed Indonesia Tbk		260
	639,800		PT Malindo Feedmill Tbk		82
	1,411,300		PT Nippon Indosari Corpindo Tbk		132
	4,691,900		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		620
	9,320,300		PT Salim Ivomas Pratama Tbk		498
	941,500		PT Sampoerna Agro Tbk		135
	3,983		Pulmuone Co Ltd		511
	209,700		Q.P. Corp		5,102
	220,792		QAF Ltd		180
	865,250		QL Resources BHD		916
	160,569		Remy Cointreau S.A.		11,826
	1,125,642		Reynolds American, Inc		77,568
	1,385,900		RFM Corp		164
	276,500		Rimbunan Sawit BHD		42
	202,682	e	Rogers Sugar, Inc		723
	8,974	*	Royal UNIBREW AS		1,504
	45,400		S Foods, Inc		835
	3,330,319		SABMiller plc		174,448
	59,684		SABMiller plc (Johannesburg)		3,122
	28,855		Sakata Seed Corp		470
	191,300		Salmar ASA		2,748
	1,875		Samlip General Foods Co Ltd		481
	7,169		Samyang Corp		556
	6,633		Samyang Holdings Corp		550
	62,902	e	Sanderson Farms, Inc		5,010
	154,100		Sao Martinho S.A.		1,869
	1,467,000		Sapporo Holdings Ltd		5,804
	403,448		Saputo, Inc		11,088
	159,200		Sarawak Oil Palms BHD		219
	45,059	*,e	Scandi Standard AB		267
	32,363		Schouw & Co		1,551
	927	*	Seaboard Corp		3,830
	34,964	*	Seneca Foods Corp		1,042
	197,000	*	Shanghai Dajiang Group		87
	2,620,000		Shenguan Holdings Group Ltd		801
	75,000		Showa Sangyo Co Ltd		289
	550,702		Shree Renuka Sugars Ltd		113
	5,310		Silla Co Ltd		111
	118,100		SLC Agricola S.A.		648
	401,831		Souza Cruz S.A.		3,198

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	354,074		Standard Foods Corp	$	912
	199,936		Stock Spirits Group plc		611
	36,933		Strauss Group Ltd		577
	81,382	e	Suedzucker AG.		994
	279,483		Suntory Beverage & Food Ltd		11,967
	440,200	e	Super Coffeemix Manufacturing Ltd		477
	317,297		Swedish Match AB		9,329
	62,732	*	Synlait Milk Ltd		138
	56,166	*,e	Synutra International, Inc		359
	166,500		Takara Holdings, Inc		1,204
	436,784		Tassal Group Ltd		1,128
	540,591		Tata Tea Ltd		1,286
	1,615,073		Tate & Lyle plc		14,315
	449,200		TDM BHD		95
	1,086,000	e	Tenwow International Holdings Ltd		324
	360,500		Tereos Internacional S.A.		87
	432,980		TH Plantations BHD		186
	1,095,900		Thai Union Frozen Products PCL		676
	915,200		Thai Vegetable Oil PCL		608
	2,242,000	e	Tibet 5100 Water Resources Holdings Ltd		709
	1,570,900		Tiga Pilar Sejahtera Food Tbk		251
	411,776		Tiger Brands Ltd		10,361
	2,166,542		Tingyi Cayman Islands Holding Corp		4,665
	172,851		Tongaat Hulett Ltd		1,919
	51,973	e	Tootsie Roll Industries, Inc		1,763
	92,746		Toyo Suisan Kaisha Ltd		3,263
	504,182		Treasury Wine Estates Ltd		1,959
	132,358	*	TreeHouse Foods, Inc		11,253
	8,944		TS Corp		196
	772,450		TSH Resources BHD		473
	421,086		Tsingtao Brewery Co Ltd		2,824
	108,000		Ttet Union Corp		276
	2,317,573		Tyson Foods, Inc (Class A)		88,763
	157,973		Ulker Biskuvi Sanayi AS		1,183
	3,106,595		Unilever NV		129,817
	1,937,205		Unilever plc		80,827
	1,462,204	e	Uni-President China Holdings Ltd		968
	5,367,420		Uni-President Enterprises Corp		8,970
	69,043		United Breweries Ltd		1,103
	84,855		United Spirits Ltd		4,959
	80,611	e	Universal Corp		3,802
	2,838,275		Universal Robina		14,337
	494,177	*	Vanguarda Agro S.A.		146
	220,255	e	Vector Group Ltd		4,839
	8,519	e	Vilmorin & Cie		691
	1,357,084		Vina Concha y Toro S.A.		2,796
	47,875		Viscofan S.A.		2,925
	7,311,024	e	Want Want China Holdings Ltd		7,780
	32,700		Warabeya Nichiyo Co Ltd		608
	265,000		Wei Chuan Food Corp		212
	3,073,000	*,g	WH Group Ltd		1,745
	1,728,649	*	WhiteWave Foods Co (Class A)		76,648

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,219,667		Wilmar International Ltd	$	7,643
	69,331		Yakult Honsha Co Ltd		4,830
	82,735		Yamazaki Baking Co Ltd		1,491
	12,961		Yantai Changyu Pioneer Wine Co		46
	2,414,000	*,e	YuanShengTai Dairy Farm Ltd		280
	6,510		Zydus Wellness Ltd		106
			TOTAL FOOD, BEVERAGE & TOBACCO		6,165,324
HEALTH CARE EQUIPMENT & SERVICES - 4.1%
	16,599	*,e	AAC Holdings, Inc		508
	61,221	e	Abaxis, Inc		3,925
	4,293,488		Abbott Laboratories		198,917
	117,589	*	Abiomed, Inc		8,417
	209,497	*	Acadia Healthcare Co, Inc		15,000
	214,272	*,e	Accuray, Inc		1,993
	94,123	e	Aceto Corp		2,071
	39,594	*	Addus HomeCare Corp		911
	16,497	*,e	Adeptus Health, Inc		828
	412,416		Advanced Medical Solutions Group plc		826
	1,529,891		Aetna, Inc		162,979
	371,267	*	AGFA-Gevaert NV		856
	62,626	*,m	AGFA-Gevaert NV Brussels (Strip VVPR)		0	^
	195,307	*,e	Air Methods Corp		9,099
	495,126		Al Noor Hospitals Group plc		7,462
	362,634		Alfresa Holdings Corp		5,110
	250,203	*	Align Technology, Inc		13,457
	27,122	*	Alliance HealthCare Services, Inc		602
	726,983	*	Allscripts Healthcare Solutions, Inc		8,695
	28,198	*	Almost Family, Inc		1,261
	24,594	e	Ambu A.S.		567
	93,694	*	Amedisys, Inc		2,509
	746,520		AmerisourceBergen Corp		84,857
	172,934	*	AMN Healthcare Services, Inc		3,990
	268,933	e	Amplifon S.p.A.		1,827
	178,934	*	Amsurg Corp		11,008
	42,691		Analogic Corp		3,881
	85,988	*,e	Angiodynamics, Inc		1,530
	83,128	*	Anika Therapeutics, Inc		3,422
	161,272		Ansell Ltd		3,376
	320,144	*,e	Antares Pharma, Inc		868
	1,220,605		Anthem, Inc		188,474
	187,097		Apollo Hospitals Enterprise Ltd		4,090
	14,200		As One Corp		430
	22,500		Asahi Intecc Co Ltd		1,570
	84,025	*,e	athenahealth, Inc		10,032
	76,972	*	AtriCure, Inc		1,577
	4,470		Atrion Corp		1,544
	1,513,650		Bangkok Chain Hospital PCL		371
	3,313,400		Bangkok Dusit Medical Services PCL		2,004
	424,150		Bard (C.R.), Inc		70,981
	1,903,396		Baxter International, Inc		130,383
	636,890		Becton Dickinson & Co		91,451

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	68,495	*,e	Bio-Reference Labs, Inc	$	2,414
	237,755	*,e	BioScrip, Inc		1,053
	1,121,000		Biosensors International Group Ltd		621
	76,144	*	BioTelemetry, Inc		674
	29,900		BML, Inc		849
	7,233,945	*	Boston Scientific Corp		128,403
	131,128	*	Brookdale Senior Living, Inc		4,951
	621,100		Bumrungrad Hospital PCL (Foreign)		2,899
	312,589		Bupa Chile S.A.		263
	133,575		Cantel Medical Corp		6,345
	80,666	*	Capital Senior Living Corp		2,092
	1,225,994		Cardinal Health, Inc		110,670
	76,604	*	Cardiovascular Systems, Inc		2,991
	32,083	e	Carl Zeiss Meditec AG.		840
	1,377	*,e	Carmat		98
	45,391	*,e	Castlight Health, Inc		352
	703,829	*	Catamaran Corp		41,906
	422,357	*	Catamaran Corp (Toronto)		25,144
	5,250	*	Cegedim S.A.		178
	46,834		Celesio AG.		1,383
	883,478	*	Centene Corp		62,453
	1,002,148	*	Cerner Corp		73,417
	250,200	*,e	Cerus Corp		1,043
	34,694	*	CHA Bio & Diostech Co Ltd		480
	69,333		CHC Healthcare Group		139
	48,266	e	Chemed Corp		5,763
	1,180,000	*,m	China Jiuhao Health Industry Corp Ltd		91
	1,120,000	e	China Pioneer Pharma Holdings Ltd		716
	303,600		Chularat Hospital PCL		183
	815,962		Cigna Corp		105,618
	33,171	*	Civitas Solutions, Inc		695
	110,628		Cochlear Ltd		7,605
	200,032		Coloplast AS		15,111
	517,825	*	Community Health Systems, Inc		27,072
	35,214		CompuGroup Medical AG.		1,020
	30,655	e	Computer Programs & Systems, Inc		1,663
	95,139		Conmed Corp		4,804
	31,400		Consort Medical plc		401
	86,066		Cooper Cos, Inc		16,130
	900,000	e	Cordlife Group Ltd		679
	52,852	*	Corvel Corp		1,819
	110,030	*	Cross Country Healthcare, Inc		1,305
	94,458		CryoLife, Inc		980
	26,500	*,e	CYBERDYNE, Inc		690
	130,768	*,e	Cyberonics, Inc		8,489
	77,840	*	Cynosure, Inc (Class A)		2,387
	535,682	*	DaVita, Inc		43,540
	13,060	*,e	DBV Technologies S.A.		598
	143,060		Dentsply International, Inc		7,280
	79,333	*,e	Derma Sciences, Inc		672
	310,670	*	DexCom, Inc		19,367
	59,700		Diagnosticos da America S.A.		168

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,623		DiaSorin S.p.A.	$	994
	6,656		Draegerwerk AG.		829
	2,784		Draegerwerk AG. & Co KGaA		248
	519,365	*	Edwards Lifesciences Corp		73,989
	12,700		Eiken Chemical Co Ltd		208
	189,864	e	Elekta AB (B Shares)		1,707
	178,064	*,e	Endologix, Inc		3,040
	89,255		Ensign Group, Inc		4,182
	1,140	*	Entellus Medical, Inc		25
	121,354	*	Envision Healthcare Holdings, Inc		4,654
	626,696		Essilor International S.A.		71,954
	741,739	*,e	Estia Health Ltd		3,463
	32,681	*	Exactech, Inc		838
	95,460	*	ExamWorks Group, Inc		3,973
	2,599,355	*	Express Scripts Holding Co		225,546
	240,731	e	Extendicare, Inc		1,427
	482,600		Faber Group BHD		430
	995,819		Fagron NV		38,776
	1,352,301		Fisher & Paykel Healthcare Corp		6,647
	146,324	*	Five Star Quality Care, Inc		650
	160,100		Fleury S.A.		803
	87,742	*	Fortis Healthcare Ltd		231
	220,778		Fresenius Medical Care AG.		18,351
	383,097		Fresenius SE		22,839
	16,400		Fukuda Denshi Co Ltd		925
	7,592	e	Galenica AG.		6,618
	133,961	*	Genesis Health Care, Inc		954
	115,618	*,e	GenMark Diagnostics, Inc		1,501
	182,601	*,e	Getinge AB (B Shares)		4,512
	252,361	*	Globus Medical, Inc		6,370
	460,933		GN Store Nord		10,291
	9,393,998	e	Golden Meditech Holdings Ltd		1,380
	85,042	*	Greatbatch, Inc		4,920
	49,400		Green Hospital Supply, Inc		1,128
	90,023	e	Greencross Ltd		546
	13,595		Guerbet		535
	176,422	*	Haemonetics Corp		7,925
	104,906	*,e	Halyard Health, Inc		5,161
	122,310	*	Hanger Orthopedic Group, Inc		2,775
	518,900		Hartalega Holdings BHD		1,214
	1,514,559	*	HCA Holdings, Inc		113,940
	708,432	*	Health Net, Inc		42,853
	23,871	*	HealthEquity, Inc		597
	932,575		Healthscope Ltd		2,168
	366,884		Healthsouth Corp		16,275
	76,162	*	HealthStream, Inc		1,919
	100,175	*	Healthways, Inc		1,973
	45,772	*,e	HeartWare International, Inc		4,017
	131,996	*	Henry Schein, Inc		18,429
	226,232		Hill-Rom Holdings, Inc		11,085
	236,990	*	HMS Holdings Corp		3,661
	11,800		Hogy Medical Co Ltd		579

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,326,614	*	Hologic, Inc	$	76,836
	913,167		Humana, Inc		162,562
	45,517	*	ICU Medical, Inc		4,239
	224,491	*	Idexx Laboratories, Inc		34,679
	4,831,795		IHH Healthcare BHD		7,841
	99,704	*,e	iKang Healthcare Group, Inc (ADR)		1,617
	7,646	*,e	Imprivata, Inc		107
	142,220	*	IMS Health Holdings, Inc		3,850
	9,738		InBody Co Ltd		290
	13,288	*	Inogen Inc		425
	481,822	*,e	Inovalon Holdings, Inc		14,556
	511,101	*	Insulet Corp		17,045
	78,273	*,e	Integra LifeSciences Holdings Corp		4,826
	144,339	*	Intuitive Surgical, Inc		72,896
	111,777		Invacare Corp		2,170
	178,677	*	Inverness Medical Innovations, Inc		8,737
	18,704	*	Ion Beam Applications		481
	52,258	*	IPC The Hospitalist Co, Inc		2,437
	6,630	*	i-SENS Inc		292
	234,178	*,e	Japara Healthcare Ltd		480
	76,000		Jeol Ltd		398
	3,766,000	e	Jintian Pharmaceutical Group Ltd		1,445
	34,401	*	K2M Group Holdings, Inc		759
	481,283		Kindred Healthcare, Inc		11,450
	35,976		Korian-Medica		1,219
	665,500		Kossan Rubber Industries		1,019
	1,324,373		KPJ Healthcare BHD		1,522
	464,456	*	Laboratory Corp of America Holdings		58,563
	27,401		Landauer, Inc		963
	45,303	*	LDR Holding Corp		1,660
	56,200	e	Leisureworld Senior Care Corp		658
	41,698	*	LHC Group, Inc		1,377
	2,467,497		Life Healthcare Group Holdings Pte Ltd		8,594
	226,743	*	LifePoint Hospitals, Inc		16,654
	1,430,000	*	Lifetech Scientific Corp		258
	120,829	*	Magellan Health Services, Inc		8,557
	6,400		Mani, Inc		464
	139,985	*	Masimo Corp		4,617
	1,238,884		McKesson Corp		280,236
	292,386	*	MedAssets, Inc		5,503
	66,875	e	Medical Facilities Corp		903
	20,130		Medicare Group		782
	206,070		Mediceo Paltac Holdings Co Ltd		2,686
	534,935		Mediclinic International Ltd		5,371
	150,391	*,e	Medidata Solutions, Inc		7,375
	46,696	*	Medipost Co Ltd		3,151
	4,306,653		Medtronic plc		335,876
	389,814	*	Merge Healthcare, Inc		1,742
	112,740	e	Meridian Bioscience, Inc		2,151
	149,336	*	Merit Medical Systems, Inc		2,875
	38,400	e	Message Co Ltd		1,160
	1,679,745		Metlifecare Ltd		5,922

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	145,500		Microlife Corp	$	341
	338,000	*	Microport Scientific Corp		169
	64,893		Miraca Holdings, Inc		2,983
	152,252	*	Molina Healthcare, Inc		10,245
	20,536		Nagaileben Co Ltd		375
	26,800		Nakanishi, Inc		1,046
	34,932	e	National Healthcare Corp		2,226
	30,750	e	National Research Corp		443
	207,544	*	Natus Medical, Inc		8,192
	101,258	*	Neogen Corp		4,732
	1,641,246		Network Healthcare Holdings Ltd		5,628
	29,719	*,e	Nevro Corp		1,424
	47,700	e	Nichii Gakkan Co		421
	210,600		Nihon Kohden Corp		5,728
	145,767		Nikkiso Co Ltd		1,304
	653,800		Nipro Corp		6,225
	175,823	*	NuVasive, Inc		8,086
	165,067	*	NxStage Medical, Inc		2,856
	22,183	*,e	Ocular Therapeutix, Inc		931
	228,719		Odontoprev S.A.		779
	1,439,911	*	Olympus Corp		53,385
	595,526		Omnicare, Inc		45,891
	189,928	*	Omnicell, Inc		6,666
	396,327	*	OraSure Technologies, Inc		2,592
	247,812	*,e	Oriola-KD Oyj (B Shares)		1,010
	102,052	e	Orpea		6,428
	57,132	*	Orthofix International NV		2,050
	10,264	*	Osstem Implant Co Ltd		432
	212,449		Owens & Minor, Inc		7,189
	40,768	*,e	Oxford Immunotec Global plc		574
	17,200		Paramount Bed Holdings Co Ltd		454
	127,547		Patterson Cos, Inc		6,223
	407,223	*	Pediatrix Medical Group, Inc		29,528
	181,575		Pharmaniaga BHD		294
	104,891	*	PharMerica Corp		2,957
	228,500	e	Phoenix Healthcare Group Co Ltd		404
	27,096		Phonak Holding AG.		3,760
	48,796	*,e	PhotoMedex, Inc		98
	110,000	*	Pihsiang Machinery Manufacturing Co Ltd		197
	313,136	*	Premier, Inc		11,768
	1,425,855	e	Primary Health Care Ltd		5,958
	66,452	*	Providence Service Corp		3,530
	14,100	e	Psc, Inc		213
	247,700	*	PT Siloam International Hospitals Tbk		254
	452,000	*,e	PW Medtech Group Ltd		171
	208,808	*	Qualicorp S.A.		1,492
	140,116		Quality Systems, Inc		2,239
	376,197		Quest Diagnostics, Inc		28,911
	77,932	*,e	Quidel Corp		2,103
	149,744	*,e	RadNet, Inc		1,258
	308,967	e	Raffles Medical Group Ltd		885
	210,601		Ramsay Health Care Ltd		10,752

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,374,000		Religare Health Trust	$	3,473
	215,224	e	Resmed, Inc		15,449
	187,016		Rhoen Klinikum AG.		4,643
	146,133	*,e	Rockwell Medical Technologies, Inc		1,597
	1,158	*,e	Roka Bioscience, Inc		4
	209,429	*,e	RTI Biologics, Inc		1,035
	793,391	e	Ryman Healthcare Ltd		4,643
	12,067		Sartorius AG.		1,539
	4,881	e	Sartorius Stedim Biotech		1,038
	34,686	*,e	Second Sight Medical Products, Inc		445
	210,753		Selcuk Ecza Deposu Ticaret ve Sanayi AS		211
	309,898		Select Medical Holdings Corp		4,596
	16,920		SEWOONMEDICAL Co Ltd		110
	1,954,994		Shandong Weigao Group Medical Polymer Co Ltd		1,723
	1,957,662		Shanghai Pharmaceuticals Holding Co Ltd		5,210
	120,181		Shenzhen Accord Pharmaceutical Co Ltd		623
	862	*	Sientra, Inc		17
	2,766,459		Sigma Pharmaceuticals Ltd		1,869
	1,912,447		Sinopharm Group Co		7,787
	96,824	*	Sirona Dental Systems, Inc		8,713
	948,851		Smith & Nephew plc		16,179
	424,535		So-net M3, Inc		9,006
	2,053,625		Sonic Healthcare Ltd		31,905
	340,772	*,e	Sorin S.p.A.		1,044
	111,980	*,e	Spectranetics Corp		3,892
	177,322	*,g	Spire Healthcare Group plc		983
	655,946		St. Jude Medical, Inc		42,899
	43,000		St. Shine Optical Co Ltd		692
	100,212	*,e	Staar Surgical Co		745
	295,980	e	STERIS Corp		20,799
	13,185		Stratec Biomedical Systems AG.		647
	12,599		Straumann Holding AG.		3,436
	812,382		Stryker Corp		74,942
	5,750		Suheung Capsule Co Ltd		273
	1,053,807		Summerset Group Holdings Ltd		2,613
	1,157,600		Supermax Corp BHD		656
	70,210	*	Surgical Care Affiliates, Inc		2,410
	70,248	*	SurModics, Inc		1,829
	258,071		Suzuken Co Ltd		7,866
	43,762	*	Symmetry Surgical, Inc		321
	66,914		Synergy Healthcare plc		2,308
	274,198		Sysmex Corp		15,203
	26,562	*,e	Tandem Diabetes Care, Inc		335
	223,397	*	Team Health Holdings, Inc		13,071
	24,026		Teleflex, Inc		2,903
	244,797	*,e	Tenet Healthcare Corp		12,120
	244,876		Terumo Corp		6,451
	252,851	*	Thoratec Corp		10,592
	137,300		Toho Pharmaceutical Co Ltd		2,320
	9,600		Tokai Corp (GIFU)		327
	1,079,500		Top Glove Corp BHD		1,594
	121,998	*	Tornier BV		3,199

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,114,000	e	Town Health International Medical Group Ltd	$	944
	138,742	*,e	TransEnterix, Inc		406
	84,029	*	Triple-S Management Corp (Class B)		1,670
	21,472	*,e	TriVascular Technologies, Inc		225
	15,769	*,e	Trupanion, Inc		126
	22,700	e	Tsuki Corp		172
	354,069	*,e	Unilife Corp		1,420
	347,109		United Drug plc		2,433
	3,172,340		UnitedHealth Group, Inc		375,256
	143,412		Universal American Corp		1,532
	765,876		Universal Health Services, Inc (Class B)		90,151
	62,603		US Physical Therapy, Inc		2,974
	10,770		Utah Medical Products, Inc		645
	7,930		Value Added Technologies Co Lt		165
	224,522	*	Varian Medical Systems, Inc		21,125
	66,364	*	Vascular Solutions, Inc		2,012
	349,729	*	VCA Antech, Inc		19,172
	226,495	*,e	Veeva Systems, Inc		5,782
	17,405	*,e	Veracyte, Inc		127
	655,600		Vibhavadi Medical Center PCL		310
	7,257		Vieworks Co Ltd		188
	253,857	e	Virtus Health Ltd		1,414
	85,100	e	VITAL KSK Holdings, Inc		647
	62,623	*	Vocera Communications, Inc		621
	310,678	*	WellCare Health Plans, Inc		28,415
	273,926		West Pharmaceutical Services, Inc		16,493
	24,940	*	William Demant Holding		2,118
	155,270	*,e	Wright Medical Group, Inc		4,006
	76,634	*,e	Zeltiq Aesthetics, Inc		2,363
	657,372		Zimmer Holdings, Inc		77,254
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		5,084,745
HOUSEHOLD & PERSONAL PRODUCTS - 1.4%
	10,907		Able C&C Co Ltd		310
	137,400		Aderans Co Ltd		1,420
	5,701		Amorepacific Corp		17,225
	15,400		Artnature, Inc		141
	422,592	e	Asaleo Care Ltd		607
	990,312	e	Avon Products, Inc		7,913
	44,430		Bajaj Corp Ltd		325
	655,376	e	Beiersdorf AG.		56,827
	9,350		Bioland Ltd		230
	212,205	*	Central Garden and Pet Co (Class A)		2,254
	703,000	e	China Child Care Corp Ltd		134
	493,305		Church & Dwight Co, Inc		42,138
	314,371		Clorox Co		34,703
	2,022,775	e	Colgate-Palmolive Co		140,259
	4,305		Cosmax BTI, Inc		225
	47,954		Cosmax, Inc		5,891
	170,515		Coty, Inc		4,138
	484,017		Dabur India Ltd		2,053
	12,500	e	Dr Ci:Labo Co Ltd		436

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	489,700		DSG International Thailand PCL	$	111
	13,300	e	Earth Chemical Co Ltd		459
	193,624		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		184
	88,139	*,e	Elizabeth Arden, Inc		1,375
	204,698	e	Energizer Holdings, Inc		28,259
	1,362,995		Estee Lauder Cos (Class A)		113,347
	55,300	*,e	Euglena Co Ltd		909
	185,500		Fancl Corp		2,367
	59,479	e	Female Health Co		168
	9,947		Gillette India Ltd		760
	160,803		Godrej Consumer Products Ltd		2,673
	86,000		Grape King Industrial Co		372
	862,286		Hengan International Group Co Ltd		10,379
	48,557		Henkel KGaA		5,011
	363,306		Henkel KGaA (Preference)		42,674
	359,637	*,e	Herbalife Ltd		15,378
	1,238,513		Hindustan Lever Ltd		17,299
	408,946	*	HRG Group, Inc		5,104
	790,816		Hypermarcas S.A.		4,881
	9,261	e	Inter Parfums S.A.		305
	90,493		Inter Parfums, Inc		2,952
	346,755		Jyothy Laboratories Ltd		1,482
	703,951		Kao Corp		35,151
	4,600,900		Karex BHD		5,702
	1,155,586		Kimberly-Clark Corp		123,775
	1,572,832	e	Kimberly-Clark de Mexico S.A. de C.V. (Class A)		3,298
	25,600		Kobayashi Pharmaceutical Co Ltd		1,832
	12,897		Korea Kolmar Co Ltd		791
	6,204		Korea Kolmar Holdings Co Ltd		297
	73,600		Kose Corp		4,059
	19,045		LG Household & Health Care Ltd		14,437
	343,000		Lion Corp		2,088
	574,456		L’Oreal S.A.		105,809
	18,279		Mandom Corp		669
	34,658	*	Medifast, Inc		1,039
	329,924	*	Microbio Co Ltd		276
	35,900		Milbon Co Ltd		1,152
	172,750		Natura Cosmeticos S.A.		1,456
	49,782		Nature’s Sunshine Products, Inc		653
	14,400		Noevir Holdings Co Ltd		288
	367,655	e	Nu Skin Enterprises, Inc (Class A)		22,137
	32,101	*	Nutraceutical International Corp		632
	4,733,000	e,m	NVC Lighting Holdings Ltd		6
	14,477		Oil-Dri Corp of America		487
	33,533	*	Ontex Group NV		1,019
	19,946		Orchids Paper Products Co		538
	43,241	e	Oriflame Cosmetics S.A.		578
	8,223		Pacific Corp		11,111
	35,000		Pigeon Corp		2,941
	28,300		Pola Orbis Holdings, Inc		1,499
	8,526,257		Procter & Gamble Co		698,641

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,300,800		PT Industri Jamu Dan Farmasi Sido Muncul Tbk	$	318
	3,175,491		PT Unilever Indonesia Tbk		9,620
	622,693		Reckitt Benckiser Group plc		53,493
	35,076	*	Revlon, Inc (Class A)		1,445
	2,714,000		Ruinian International Ltd		778
	127,991	e	Shiseido Co Ltd		2,271
	84,467		Spectrum Brands, Inc		7,565
	251,973		Svenska Cellulosa AB (B Shares)		5,790
	811,899		Uni-Charm Corp		21,255
	15,142	*,e	USANA Health Sciences, Inc		1,683
	408,000	e	Vinda International Holdings Ltd		666
	61,453		WD-40 Co		5,441
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,726,364
INSURANCE - 4.3%
	2,946,005		ACE Ltd		328,450
	188,205		Admiral Group plc		4,261
	531,319		Aegon NV		4,195
	686,240		Aflac, Inc		43,926
	366,059		Ageas		13,146
	19,736,207	e	AIA Group Ltd		123,913
	117,839		Aksigorta AS		98
	12,769	*	Alleghany Corp		6,219
	896,853		Allianz AG.		155,709
	217,253		Allied World Assurance Co Holdings Ltd		8,777
	2,870,900		Allstate Corp		204,322
	83,677	*	Alm Brand AS		545
	150,659	*	AMBAC Financial Group, Inc		3,646
	257,060		American Equity Investment Life Holding Co		7,488
	536,235		American Financial Group, Inc		34,399
	4,123,076		American International Group, Inc		225,903
	22,164		American National Insurance Co		2,181
	65,064		Amerisafe, Inc		3,009
	1,329,399		Amlin plc		9,956
	4,034,439		AMP Ltd		19,692
	85,611	e	Amtrust Financial Services, Inc		4,879
	63,286		Anadolu Hayat Emeklilik AS		123
	207,131		Anadolu Sigorta		104
	412,838		Aon plc		39,682
	273,126	*	Arch Capital Group Ltd		16,825
	96,299		Argo Group International Holdings Ltd		4,829
	139,510		Arthur J. Gallagher & Co		6,522
	333,410		Aspen Insurance Holdings Ltd		15,747
	2,257,282		Assicurazioni Generali S.p.A.		44,383
	114,077		Assurant, Inc		7,005
	153,218		Assured Guaranty Ltd		4,043
	33,465	*,e	Atlas Financial Holdings, Inc		591
	5,400,726		Aviva plc		43,221
	5,156,627		AXA S.A.		129,788
	605,336		Axis Capital Holdings Ltd		31,223
	4,146		Bajaj Finserv Ltd		94
	45,140		Baldwin & Lyons, Inc (Class B)		1,059

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	33,193		Baloise Holding AG.	$	4,387
	976,646		BB Seguridade Participacoes S.A.		10,037
	1,243,825		Beazley plc		5,291
	4,348,111	*	Berkshire Hathaway, Inc (Class B)		627,519
	225,700		Brazil Insurance Participco		138
	119,888	g	Brit plc		494
	100,468		Brown & Brown, Inc		3,327
	20,733,347		Cathay Financial Holding Co Ltd		33,035
	1,030,616		Catlin Group Ltd		10,856
	244,589		Chesnara plc		1,245
	1,187,148	*	China Insurance International Holdings Co Ltd		4,050
	11,396,010		China Life Insurance Co Ltd		50,094
	7,222,233		China Life Insurance Co Ltd (Taiwan)		6,292
	3,638,000		China Pacific Insurance Group Co Ltd		17,305
	223,545		Chubb Corp		22,600
	109,038		Cincinnati Financial Corp		5,810
	148,394	*,e	Citizens, Inc (Class A)		914
	19,954	*	Clal Insurance		302
	4,277,241		ClearView Wealth Ltd		3,372
	19,608		CNA Financial Corp		812
	378,446		CNP Assurances		6,633
	884,979		Conseco, Inc		15,239
	1,718,822		Corp Mapfre S.A.		6,276
	278,107	e	Cover-More Group Ltd		436
	98,036		Crawford & Co (Class B)		847
	2,323,411		Dai-ichi Mutual Life Insurance Co		33,701
	96,004		Delta Lloyd NV		1,811
	5,076,831		Direct Line Insurance Group plc		23,958
	341,787	e	Discovery Holdings Ltd		3,508
	29,218		Donegal Group, Inc (Class A)		459
	43,579		Dongbu Insurance Co Ltd		1,940
	23,983	*	eHealth, Inc		225
	25,614		EMC Insurance Group, Inc		866
	96,483		Employers Holdings, Inc		2,604
	105,036	e	Endurance Specialty Holdings Ltd		6,422
	34,091	*	Enstar Group Ltd		4,836
	63,544		Erie Indemnity Co (Class A)		5,545
	694,218		esure Group plc		2,155
	29,335		Euler Hermes S.A.		3,120
	275,544		Everest Re Group Ltd		47,945
	38,065		Fairfax Financial Holdings Ltd		21,338
	24,441	e	FBD Holdings plc		263
	40,869		FBL Financial Group, Inc (Class A)		2,534
	85,682		Federated National Holding Co		2,622
	37,283		Fidelity & Guaranty Life		790
	361,923		First American Financial Corp		12,913
	596,742		FNF Group		21,936
	2,430,185		Fondiaria-Sai S.p.A		7,071
	391,847	*	Genworth Financial, Inc (Class A)		2,864
	341,297		Gjensidige Forsikring BA		5,889
	421,297	e	Great-West Lifeco, Inc		12,181
	93,442	*	Greenlight Capital Re Ltd (Class A)		2,971

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

					VALUE
SHARES			COMPANY		(000)
	42,603		Grupo Catalana Occidente S.A.	$	1,276
	73,342	*	Hallmark Financial Services		777
	113,657		Hannover Rueckversicherung AG.		11,745
	106,381		Hanover Insurance Group, Inc		7,721
	19,934	*	Hanwha Non-Life Insurance Co Ltd		84
	147,197		Harel Insurance Investments & Finances Ltd		684
	3,912,023		Hartford Financial Services Group, Inc		163,601
	122,546		HCC Insurance Holdings, Inc		6,945
	27,049	e	HCI Group, Inc		1,241
	6,496		Helvetia Holding AG.		3,495
	16,107	*,e	Heritage Insurance Holdings, Inc		355
	412,543		Hiscox Ltd		5,210
	185,685	e	Horace Mann Educators Corp		6,350
	169,292		Hyundai Marine & Fire Insurance Co Ltd		3,785
	5,903		IDI Insurance Co Ltd		219
	28,522		Independence Holding Co		388
	98,598		Industrial Alliance Insurance and Financial Services, Inc		3,298
	44,269		Infinity Property & Casualty Corp		3,632
	2,768,163		Insurance Australia Group Ltd		12,814
	224,829		Intact Financial Corp		16,938
	4,065		James River Group Holdings Ltd		96
	242,998		Just Retirement Group plc		593
	14,782		Kansas City Life Insurance Co		679
	164,352		Kemper Corp		6,403
	459,027		Korea Life Insurance Co Ltd		3,046
	81,217		Korean Reinsurance Co		746
	195,127	e	Lancashire Holdings Ltd		1,812
	23,131,890		Legal & General Group plc		95,265
	262,606	e	Liberty Holdings Ltd		3,634
	35,927		LIG Insurance Co Ltd		738
	698,125		Lincoln National Corp		40,114
	190,641		Loews Corp		7,784
	334,230		Maiden Holdings Ltd		4,957
	2,919,737		Manulife Financial Corp		49,586
	17,458	*	Markel Corp		13,425
	3,314,637		Marsh & McLennan Cos, Inc		185,918
	275,915		MAX India Ltd		1,901
	266,052	*	MBIA, Inc		2,474
	171,195		Meadowbrook Insurance Group, Inc		1,455
	3,567,982	*	Medibank Pvt Ltd		6,293
	264,035		Mediolanum S.p.A.		2,129
	47,759		Menorah Mivtachim Holdings Ltd		438
	661,465		Mercuries & Associates Holding Ltd		490
	960,202	*	Mercuries Life Insurance Co Lt		543
	32,935		Mercury General Corp		1,902
	121,653		Meritz Fire & Marine Insurance Co Ltd		1,249
	7,188,596		Metlife, Inc		363,384
	1,062,583		Metropolitan Holdings Ltd		2,875
	940,947		Migdal Insurance Holdings Ltd		1,165
	958,854		Mitsui Sumitomo Insurance Group Holdings, Inc		26,844
	131,094		Montpelier Re Holdings Ltd		5,039
	624,600	*	MPHB Capital BHD		330

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

					VALUE
SHARES			COMPANY		(000)
	121,731		Muenchener Rueckver AG.	$	26,158
	144,902		National General Holdings Corp		2,710
	30,396		National Interstate Corp		854
	7,902		National Western Life Insurance Co (Class A)		2,010
	43,563	*	Navigators Group, Inc		3,391
	1,044,504		New China Life insurance Co Ltd		5,816
	1,188,199		NKSJ Holdings, Inc		36,939
	130,586	*	NN Group NV		3,702
	3,173,982	e	Old Mutual plc		10,419
	209,485		Old Republic International Corp		3,130
	141,542		OneBeacon Insurance Group Ltd (Class A)		2,153
	176,633		PartnerRe Ltd		20,194
	217,908		Partnership Assurance Group plc		457
	1,850	*	Patriot National, Inc		24
	12,243,805		People’s Insurance Co Group of China Ltd		6,212
	19,292	*	Phoenix Cos, Inc		964
	537,617		Phoenix Group Holdings		6,468
	119,814		Phoenix Holdings Ltd		349
	11,448,802		PICC Property & Casualty Co Ltd		22,604
	4,296,450		Ping An Insurance Group Co of China Ltd		51,543
	382,404		Porto Seguro S.A.		4,284
	594,406	e	Power Corp Of Canada		15,731
	521,346	e	Power Financial Corp		15,432
	147,858		Powszechny Zaklad Ubezpieczen S.A.		19,078
	180,546		Primerica, Inc		9,190
	741,055		Principal Financial Group		38,068
	126,729		ProAssurance Corp		5,818
	357,288		Progressive Corp		9,718
	2,800,638		Prudential Financial, Inc		224,919
	6,063,589		Prudential plc		150,471
	56,756,000		PT Panin Insurance Tbk		3,429
	105,026,800	*	PT Panin Life Tbk		2,709
	1,515,539		QBE Insurance Group Ltd		14,981
	204,600	*,e	Qualitas Controladora SAB de C.V.		366
	378,156		Reinsurance Group of America, Inc (Class A)		35,240
	236,849		RenaissanceRe Holdings Ltd		23,621
	1,602,769		Resolution Ltd		9,812
	147,672	e	RLI Corp		7,740
	671,215		RMI Holdings		2,556
	250,904	*	RSA Insurance Group plc		1,564
	45,180		Safety Insurance Group, Inc		2,700
	1,163,025		Sampo Oyj (A Shares)		58,661
	37,111		Samsung Fire & Marine Insurance Co Ltd		8,948
	118,034		Samsung Life Insurance Co Ltd		10,271
	4,967,919		Sanlam Ltd		32,017
	364,523		SCOR		12,295
	236,525		Selective Insurance Group, Inc		6,871
	6,347,955		Shin Kong Financial Holding Co Ltd		1,803
	237,000		Shinkong Insurance Co Ltd		186
	749,095		Societa Cattolica di Assicurazioni SCRL		6,517
	360,692		Sony Financial Holdings, Inc		5,802
	728,604		St. James’s Place plc		10,077

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

					VALUE
SHARES			COMPANY		(000)
	37,862		Stancorp Financial Group, Inc	$	2,597
	1,370,082		Standard Life plc		9,627
	56,771		State Auto Financial Corp		1,379
	13,674	e	State National Cos, Inc		136
	754,789	e	Steadfast Group Ltd		870
	73,809		Stewart Information Services Corp		3,000
	456,464	*	Storebrand ASA		1,659
	173,533		Sul America SA		773
	920,623	e	Sun Life Financial, Inc		28,370
	1,002,010		Suncorp-Metway Ltd		10,275
	21,941		Swiss Life Holding		5,420
	1,271,407		Swiss Re Ltd		122,637
	107,600		Syarikat Takaful Malaysia BHD		377
	261,251		Symetra Financial Corp		6,129
	1,801,142		T&D Holdings, Inc		24,741
	238,000		Taiwan Fire & Marine Insurance Co		171
	1,480,409	*	Taiwan Life Insurance Co Ltd		1,231
	3,027,100	*	Thai Reinsurance PCL		264
	2,305,040	*	Third Point Reinsurance Ltd		32,616
	1,298,668		Tokio Marine Holdings, Inc		49,021
	140,175		Tong Yang Life Insurance		1,465
	231,586	*	Topdanmark AS		6,929
	160,287	e	Torchmark Corp		8,803
	638,629		Travelers Cos, Inc		69,055
	26,071	e	TrygVesta AS		3,066
	300,500		Tune Ins Holdings BHD		162
	987,200		Unipol Gruppo Finanziario S.p.A		5,241
	810,945		Unipol Gruppo Finanziario S.p.A (Priv)		4,294
	277,778		Uniqa Versicherungen AG.		2,514
	31,703	*	United America Indemnity Ltd		880
	73,381		United Fire & Casualty Co		2,331
	145,352	e	United Insurance Holdings Corp		3,270
	83,776		Universal Insurance Holdings, Inc		2,144
	204,884		UnumProvident Corp		6,911
	153,801		Validus Holdings Ltd		6,475
	54,425		Vittoria Assicurazioni S.p.A.		568
	110,281		W.R. Berkley Corp		5,570
	6,985		White Mountains Insurance Group Ltd		4,781
	44,186		Wiener Staedtische Allgemeine Versicherung AG.		1,956
	1,572		Willis Group Holdings plc		76
	3,457,763		XL Capital Ltd		127,246
	306,854		Zurich Financial Services AG.		103,717
			TOTAL INSURANCE		5,329,315
MATERIALS - 4.9%
	97,015		A. Schulman, Inc		4,676
	1,370,516		Acerinox S.A.		23,053
	775,083		ACHEM Technology Corp		462
	126,000		Achilles Corp		157
	59,909		Acron JSC (GDR)		210
	46,912		Adana Cimento		121
	84,600		ADEKA Corp		1,093

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	459,174	e	Adelaide Brighton Ltd	$	1,581
	253,004		Aeci Ltd		2,503
	12,129	*	AEP Industries, Inc		668
	166,144		African Barrick Gold Ltd		644
	163,870		African Oxygen Ltd		184
	101,588		African Rainbow Minerals Ltd		826
	182,046		Agnico-Eagle Mines Ltd		5,058
	220,116	e	Agrium, Inc		22,941
	371,000		Aichi Steel Corp		1,761
	245,100	*	Ainsworth Lumber Co Ltd		675
	202,119		Air Liquide		26,021
	158,150		Air Products & Chemicals, Inc		23,925
	117,422		Air Water, Inc		2,097
	113,183		Airgas, Inc		12,010
	27,565		AK Holdings, Inc		2,437
	584,561	*,e	AK Steel Holding Corp		2,613
	71,472		Akcansa Cimento AS		480
	8,236		Akzo Nobel India Ltd		184
	886,159		Akzo Nobel NV		67,002
	127,287		Alamos Gold, Inc		746
	3,150,079		Albemarle Corp		166,450
	2,985,241		Alcoa, Inc		38,569
	455,779		Alent plc		2,525
	26,823		Alexandria Mineral Oils Co		176
	174,363		Allegheny Technologies, Inc		5,233
	325,186		Altri SGPS S.A.		1,390
	3,249,722		Alumina Ltd		3,955
	4,773,171	*,e	Aluminum Corp of China Ltd		2,382
	7,498	g	AMAG Austria Metall AG.		261
	965,071		Ambuja Cements Ltd		3,937
	3,030,558		Amcor Ltd		32,290
	97,553	e	American Vanguard Corp		1,036
	28,155		Ampco-Pittsburgh Corp		492
	3,729,000		AMVIG Holdings Ltd		1,664
	320,177		Anadolu Cam Sanayii AS		219
	981,725		Anatolia Minerals Development Ltd		2,124
	1,023,769		Anglo American plc (London)		15,290
	62,156	*	Anglo Platinum Ltd		1,522
	444,039	*	AngloGold Ashanti Ltd		4,187
	1,478,291	e	Anhui Conch Cement Co Ltd		5,582
	756,985		Antofagasta plc		8,189
	198,657	*,e	APERAM		7,969
	34,880		Aptargroup, Inc		2,216
	190,777		Arabian Cement Co		425
	387,999	e	ArcelorMittal		3,640
	136,804	*,e	Argonaut Gold, Inc		190
	285,643		Arkema		22,622
	25,874		Asahi Holdings, Inc		443
	2,044,044		Asahi Kasei Corp		19,520
	177,067	*,e	Asanko Gold, Inc		252
	361,418		Ashland, Inc		46,012
	1,170,000	e	Asia Cement China Holdings Corp		631

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,164		Asia Cement Co Ltd	$	128
	5,099,635		Asia Cement Corp		6,407
	121,574		Asia Plastic Recycling Holding Ltd		119
	252,500		Asia Polymer		170
	419,011		Asian Paints Ltd		5,436
	30,385		Associated Cement Co Ltd		759
	36,033	e	Assore Ltd		394
	795,000		Atlas Consolidated Mining & Development		157
	940,489	e	Atlas Iron Ltd		93
	7,302		Atul Ltd		132
	14,513	*,e	Auriga Industries (Class B)		652
	34,363		Aurubis AG.		1,941
	122,924		Avery Dennison Corp		6,504
	231,964	*	Axalta Coating Systems Ltd		6,407
	1,523,897		Axiall Corp		71,532
	885,665	*	B2Gold Corp		1,322
	124,841		Balchem Corp		6,914
	507,056		Ball Corp		35,818
	1,220,279		Barrick Gold Corp (Canada)		13,344
	1,005,228		BASF AG.		99,513
	8,644		BASF India Ltd		155
	35,355		Baticim Bati Anadolu Cimento Sanayii AS		93
	17,224		Bayer CropScience Ltd		913
	8,966,449		BBMG Corp		8,284
	155,669	e	BC Iron Ltd		43
	39,552		Bekaert S.A.		1,066
	53,916		Bemis Co, Inc		2,497
	906,200		Bengang Steel Plates Co		361
	257,835		Berger Paints India Ltd		860
	5,836,016	*	Berry Plastics Group, Inc		211,205
	5,135,402		BHP Billiton Ltd		119,367
	5,695,477		BHP Billiton plc		124,989
	905,261		Billerud AB		14,581
	63,700	*,e	Bio Pappel SAB de C.V.		89
	137,500	e	Bloomage Biotechnology Corp Ltd		268
	563,928		BlueScope Steel Ltd		1,787
	7,972		BNG Steel Co Ltd		105
	106,986	*	Boise Cascade Co		4,008
	1,837,023		Boliden AB		36,391
	2,520,218		Boral Ltd		12,217
	231,250		Borregaard ASA		1,708
	47,043		Borusan Mannesmann Boru Sanayi		127
	197,499	*	Boryszew S.A.		325
	26,428	*	BRAAS Monier Building Group S.A.		674
	223,967		Bradespar S.A.		743
	159,996		Braskem S.A.		551
	1,042,128	*,e	Brockman Mining Ltd		33
	65,246		Brush Engineered Materials, Inc		2,507
	77,354	e	Buzzi Unicem S.p.A.		1,158
	43,631		Buzzi Unicem S.p.A. RSP		412
	5,600		C Uyemura & Co Ltd		278
	177,396		Cabot Corp		7,983

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	174,938		Calgon Carbon Corp	$	3,686
	34,108		Canam Group, Inc		334
	192,764	e	Canexus Corp		233
	253,724	*	Canfor Corp		5,078
	80,817		Canfor Pulp Products, Inc		955
	7,359		CAP S.A.		25
	349,437	*	Capstone Mining Corp		334
	92,131		Carpenter Technology Corp		3,582
	172,830		Cascades, Inc		1,041
	68,147	*,e	Castle (A.M.) & Co		249
	100,137		CCL Industries		11,266
	156,399		Celanese Corp (Series A)		8,736
	172,199	e	Cementir S.p.A.		1,289
	414,368		Cementos Argos S.A.		1,359
	180,205	*	Cemex Latam Holdings S.A.		936
	24,581,992	*,e	Cemex S.A. de C.V.		23,319
	1,392,279	*,e	Cemex SAB de C.V. (ADR)		13,185
	1,150,494		Centamin plc		979
	673,533		Centerra Gold, Inc		3,286
	178,364	*,e	Century Aluminum Co		2,461
	1,165,000		Century Sunshine Ecological Technology Holdings Ltd		98
	15,516		Century Textile & Industries Ltd		158
	169,106		CF Industries Holdings, Inc		47,972
	20,923		Chase Corp		915
	265,992	*	Chemtura		7,259
	1,575,560		Cheng Loong Corp		624
	475,925		Chia Hsin Cement Corp		210
	1,809,795		China BlueChemical Ltd		691
	1,920,000	*	China Daye Non-Ferrous Metals Mining Ltd		55
	172,000		China Hi-ment Corp		430
	997,000	*	China Manmade Fibers Corp		344
	675,372		China Metal Products		678
	3,613,200	*,e,m	China Metal Recycling Holdings Ltd		5
	6,117,248	e	China National Building Material Co Ltd		6,085
	2,459,000		China National Materials Co Ltd		694
	2,211,078	*	China Petrochemical Development Corp		780
	3,418,000	*,e	China Precious Metal Resources Holdings Co Ltd		281
	1,098,000	*	China Rare Earth Holdings Ltd		175
	7,664,058		China Resources Cement Holdings Ltd		4,332
	1,639,000	e	China Sanjiang Fine Chemicals		496
	8,283,200	e	China Shanshui Cement Group Ltd		5,779
	117,000		China Steel Chemical Corp		555
	14,760,242		China Steel Corp		12,253
	247,000		China Synthetic Rubber Corp		256
	1,232,000		China Vanadium Titano-Magnetite Mining Co Ltd		108
	768,000	*	China Zhongsheng Resources Holdings Ltd		36
	630,000	*	Chongqing Iron & Steel Co Ltd		149
	107,158		Christian Hansen Holding		4,920
	52,000		Chugoku Marine Paints Ltd		470
	1,069,328		Chun Yuan Steel		391
	815,720	*	Chung Hung Steel Corp		184
	57,950	*	Chung Hwa Pulp Corp		17

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	442,444	e	Cia de Minas Buenaventura S.A. (ADR) (Series B)	$	4,482
	609,768		Cia Siderurgica Nacional S.A.		1,037
	54,845		Ciech S.A.		784
	152,933		Cimsa Cimento Sanayi Ve Tica		899
	1,208,000	*	Citic Dameng Holdings		123
	2,615,115		Clariant AG.		52,183
	62,100	*	Clearwater Paper Corp		4,055
	1,290,504	e	Cliffs Natural Resources, Inc		6,207
	469,044	*,e	Coeur d’Alene Mines Corp		2,209
	439,480		Commercial Metals Co		7,115
	86,132	*,m	Companhia Vale do Rio Doce		0	^
	312,929		Compass Minerals International, Inc		29,168
	400,786	*	Constellium NV		8,144
	107,366		Coromandel International Ltd		460
	667,000		CPMC Holdings Ltd		351
	3,062,813		CRH plc		80,101
	389,387		Croda International plc		15,793
	95,145	*,e	Cronus Resources Ltd		145
	1,713,460	*	Crown Holdings, Inc		92,561
	1,721,101		CSR Ltd		5,261
	173,780	*,e,m	Cudeco Ltd		165
	706,327		Cytec Industries, Inc		38,170
	3,798,500		D&L Industries Inc		1,702
	671,207		Daicel Chemical Industries Ltd		8,000
	290,000		Daido Steel Co Ltd		1,298
	63,000		Daiken Corp		142
	164,857		Dainichiseika Color & Chemicals Manufacturing Co Ltd		847
	855,845		Dainippon Ink and Chemicals, Inc		2,488
	251,872		Daio Paper Corp		2,158
	72,000		Daiso Co Ltd		252
	137,300	*	Danhua Chemical Technology Co Ltd		79
	18,091		DC Chemical Co Ltd		1,681
	31,334		DCM Shriram Ltd		54
	29,836		Deltic Timber Corp		1,977
	1,406,000		Denki Kagaku Kogyo KK		5,539
	170,146	*	Detour Gold Corp		1,444
	336,207	*	Dominion Diamond Corp		5,744
	52,181		Domtar Corp		2,412
	48,784		Dongkuk Steel Mill Co Ltd		263
	748,000		Dongpeng Holdings Co Ltd		289
	87,026		Dongsung Finetec Co Ltd		615
	4,316,000	e	Dongyue Group		1,558
	4,548,551		Dow Chemical Co		218,239
	350,000		Dowa Holdings Co Ltd		2,989
	1,295,135		DS Smith plc		6,613
	45,960		DSM NV		2,562
	2,421,161		Du Pont (E.I.) de Nemours & Co		173,040
	388,871		DuluxGroup Ltd		1,892
	99,350	*	Dundee Precious Metals, Inc		213
	52,638		Eagle Materials, Inc		4,398
	402,722		Eastman Chemical Co		27,893
	245,237		Ecolab, Inc		28,050

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	111,222		EID Parry India Ltd	$	312
	178,161	*	El Ezz Steel Co		323
	634,837		Eldorado Gold Corp		2,912
	469,474		Elementis plc		2,017
	2,358,742		Empresas CMPC S.A.		6,465
	11,390		EMS-Chemie Holding AG.		4,632
	849,942		Ence Energia y Celulosa S.A.		3,122
	443,038	*	Endeavour Mining Corp		206
	83,577	*,e	Endeavour Silver Corp		158
	587,800		Engro Chemical Pakistan Ltd		1,481
	21,379	*,e	Eramet		1,954
	2,932,936		Eregli Demir ve Celik Fabrikalari TAS		4,558
	2,096,830		Essentra plc		30,823
	1,574,990		Eternal Chemical Co Ltd		1,686
	326,200		Eternit S.A.		305
	43,151		Eugene Corp		189
	363,602		Everlight Chemical Industrial Corp		344
	2,137,944		Evolution Mining Ltd		1,374
	328,604		Evonik Industries AG.		11,698
	372,865		Evraz plc		1,035
	352,750		Feng Hsin Iron & Steel Co		442
	78,000		Ferbasa-Ferro Ligas DA Bahia		169
	623,295		Ferrexpo plc		585
	249,012	*	Ferro Corp		3,125
	236,552	*	Fibria Celulose S.A.		3,350
	29,982		Finolex Industries Ltd		136
	117,198	*,e	First Majestic Silver Corp		632
	541,530		First Quantum Minerals Ltd		6,563
	1,616,257	e	Fletcher Building Ltd		10,151
	149,922	*,e	Flotek Industries, Inc		2,210
	281,450		FMC Corp		16,113
	3,723,690		Formosa Chemicals & Fibre Corp		8,526
	5,140,088		Formosa Plastics Corp		12,453
	313,000		Formosan Rubber Group, Inc		317
	5,489,231	e	Fortescue Metals Group Ltd		8,126
	423,872	*	Fortuna Silver Mines, Inc		1,600
	2,376,451	e	Fosun International		4,598
	24,700		FP Corp		896
	369,423	e	Franco-Nevada Corp		17,903
	2,111,364		Freeport-McMoRan Copper & Gold, Inc (Class B)		40,010
	153,017		Fresnillo plc		1,545
	38,620		Frutarom Industries Ltd		1,444
	62,370		Fuchs Petrolub AG. (Preference)		2,488
	2,770,200		Fufeng Group Ltd		1,681
	20,952		Fuji Seal International, Inc		582
	16,300		Fujimi, Inc		281
	22,400		Fujimori Kogyo Co Ltd		663
	1,504,000	e	Furukawa-Sky Aluminum Corp		4,134
	1,935,800	e	Fushan International Energy Group Ltd		395
	118,795		FutureFuel Corp		1,220
	14,545,600	*	G Steel PCL		49
	247,170	*,e	Gabriel Resources Ltd		74

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	284,577	e	Gammon Gold, Inc	$	786
	99,687	*	Gem Diamonds Ltd		203
	2,614,307		Gerdau S.A. (Preference)		8,322
	9,510		Givaudan S.A.		17,181
	135,719		Glatfelter		3,736
	833,398	*	Gleichen Resources Ltd		691
	11,429,602		Glencore Xstrata plc		48,253
	182,721		Globe Specialty Metals, Inc		3,457
	394,192		Gloria Material Technology Corp		259
	102,000	e	Godo Steel Ltd		152
	93,747		Godrej Industries Ltd		518
	805,040		Gold Fields Ltd		3,339
	114,999	*,e	Gold Resource Corp		367
	1,259,385		Goldcorp, Inc		22,790
	8,617,418	*	Goldsun Development & Construction Co Ltd		2,907
	3,606,000		Grand Pacific Petrochemical		2,036
	2,569,407		Graphic Packaging Holding Co		37,359
	605,755	*,m	Great Basin Gold Ltd		5
	181,000		Great China Metal Industry		195
	2,489,000	e	Greatview Aseptic Packaging Co		1,290
	30,126		Greif, Inc (Class A)		1,183
	23,369,560	*,e	G-Resources Group Ltd		683
	493,738		Grupo Argos S.A.		3,160
	182,836		Grupo Argos S.A.(Preference)		1,191
	9,064,330		Grupo Mexico S.A. de C.V. (Series B)		26,771
	90,400	*,e	Grupo Simec SAB de C.V.		247
	75,910		Gubre Fabrikalari TAS		187
	34,748		Gujarat Flourochemicals		392
	1,584	*,m	Gunns Ltd (Forest)		0	^
	137,577	*	Guyana Goldfields, Inc		320
	12,850	*	H&R WASAG AG.		82
	138,419		H.B. Fuller Co		5,934
	35,276		Han Kuk Carbon Co Ltd		234
	11,313		Hanil Cement Manufacturing		1,859
	7,656		Hansol Chemical Co Ltd		364
	27,695		Hansol Paper Co		218
	111,765		Hanwha Chemical Corp		1,466
	40,783		Hanwha Corp		1,332
	411,699	*,e	Harmony Gold Mining Co Ltd		711
	36,907	e	Hawkins, Inc		1,402
	43,520		Haynes International, Inc		1,941
	430,643	*	Headwaters, Inc		7,898
	1,217,435	e	Hecla Mining Co		3,628
	68,975		HeidelbergCement AG.		5,455
	63,563		Hexpol AB (Series B)		6,400
	1,149,053		Hindalco Industries Ltd		2,368
	139,182		Hitachi Chemical Co Ltd		2,972
	823,024		Hitachi Metals Ltd		12,614
	601,837		Ho Tung Chemical Corp		176
	195,119	*,e	Hochschild Mining plc		257
	597,829	e	Hokuetsu Paper Mills Ltd		2,677
	596,947		Holcim Ltd		44,474

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	50,178		Holmen AB (B Shares)	$	1,693
	17,809		Honam Petrochemical Corp		3,254
	1,704,000	*	Honbridge Holdings Ltd		328
	183,677	*,e	Horsehead Holding Corp		2,325
	2,340,000		Huabao International Holdings Ltd		1,740
	570,300		Hubei Sanonda Co Ltd		689
	19,621		Huchems Fine Chemical Corp		452
	238,207		HudBay Minerals, Inc		1,948
	203,474		Huhtamaki Oyj		6,329
	202,361		Huntsman Corp		4,486
	25,077		Hyosung Corp		1,956
	52,870		Hyundai Hysco		3,031
	219,250		Hyundai Steel Co		14,391
	378,013	*	IAMGOLD Corp		704
	33,100	e	Ihara Chemical Industry Co Ltd		484
	370,136		Iluka Resources Ltd		2,386
	42,124	*	IMCD Group NV		1,419
	59,770		Imerys S.A.		4,386
	539,571	*	Impala Platinum Holdings Ltd		2,609
	44,558	*	Imperial Metals Corp		433
	2,280,789		Incitec Pivot Ltd		7,045
	863,840		Independence Group NL		3,430
	129,346		India Cements Ltd		178
	1,192,378		Indorama Ventures PCL (Foreign)		952
	132,000	*,e	Industrias CH SAB de C.V.		540
	135,120	e	Industrias Penoles S.A. de C.V.		2,351
	763,170		Inner Mongolia Eerduosi Resourses Co Ltd		695
	116,806		Innophos Holdings, Inc		6,583
	98,824		Innospec, Inc		4,584
	174,182	*	Interfor Corp		2,634
	135,288		International Flavors & Fragrances, Inc		15,883
	520,654		International Paper Co		28,891
	158,837		Intertape Polymer Group, Inc		2,198
	193,299	*,e	Intrepid Potash, Inc		2,233
	1,354,000	*	IRC Ltd		65
	316,000	*	Ishihara Sangyo Kaisha Ltd		305
	342,006		Israel Chemicals Ltd		2,429
	1,930		Israel Corp Ltd		672
	193,875		Italcementi S.p.A.		1,545
	7,132		Italmobiliare S.p.A.		233
	15,662		Italmobiliare S.p.A. RSP		333
	549,300	*	Ivanhoe Mines Ltd		399
	67,436	*	Izmir Demir Celik Sanayi AS		59
	31,459	*,m	Jacana Minerals Ltd		6
	357,725		James Hardie Industries NV		4,138
	33,000	e	Japan Pile Corp		188
	52,548	*	Jastrzebska Spolka Weglowa S.A.		239
	254,000		Jaya Tiasa Holdings BHD		114
	1,045,646		JFE Holdings, Inc		23,081
	6,115,230		Jiangxi Copper Co Ltd		11,366
	55,922		Jindal Saw Ltd		59
	445,635		Jindal Steel & Power Ltd		1,117

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	169,938	*,e	Jinshan Gold Mines, Inc	$	199
	17,223		JK Cement Ltd		184
	27,652		JK Lakshmi Cement Ltd		159
	260,752		Johnson Matthey plc		13,065
	13,300		JSP Corp		247
	269,265		JSR Corp		4,663
	107,323		JSW Steel Ltd		1,556
	308,299		K&S AG.		10,045
	61,684	e	Kaiser Aluminum Corp		4,743
	222,638		Kaneka Corp		1,565
	333,424		Kansai Paint Co Ltd		6,068
	339,441		Kapstone Paper and Packaging Corp		11,147
	452,680	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class A)		419
	818,730	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		529
	1,089		Kartonsan Karton Sanayi		92
	268,367	*,e	KAZ Minerals plc		852
	102,984		Kemira Oyj		1,275
	439,681		KGHM Polska Miedz S.A.		13,896
	318,000		Kian Joo Can Factory BHD		264
	1,722,087	*	Kinross Gold Corp		3,821
	7,284		KISCO Corp		206
	15,537		KISWIRE Ltd		727
	406,468		Klabin S.A.		2,318
	2,351,500		Klabin S.A. (Preference)		2,682
	31,724		KMG Chemicals, Inc		848
	44,000		Koatsu Gas Kogyo Co Ltd		224
	9,256,798		Kobe Steel Ltd		17,073
	34,028		Kolon Corp		979
	55,379		Kolon Industries, Inc		2,497
	35,000		Konishi Co Ltd		591
	1,031		Konya Cimento Sanayii		109
	56,986		Koppers Holdings, Inc		1,121
	12,660		Korea Kumho Petrochemical		894
	20,915		Korea Petrochemical Ind Co Ltd		2,052
	21,056		Korea Zinc Co Ltd		8,051
	430,012		Koza Altin Isletmeleri AS		4,653
	170,310	*	Koza Anadolu Metal Madencilik Isletmeleri AS		137
	915		KPX Chemical Co Ltd		48
	111,641	*	Kraton Polymers LLC		2,256
	102,399		Kronos Worldwide, Inc		1,295
	12,445		Kukdo Chemical Co Ltd		568
	112,798	e	Kumba Iron Ore Ltd		1,448
	46,000		Kumiai Chemical Industry Co Ltd		379
	76,389		Kuraray Co Ltd		1,034
	420,000	e	Kureha CORP		1,800
	89,000		Kurimoto Ltd		170
	75,300		Kyoei Steel Ltd		1,272
	200,556	e	Labrador Iron Ore Royalty Corp		2,139
	871,420		Lafarge Malayan Cement BHD		2,318
	226,372		Lafarge S.A.		14,717

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	435,300	*	Lake Shore Gold Corp	$	354
	865,577		Lanxess AG.		46,036
	424,000		Lee & Man Holding Ltd		205
	2,332,038	e	Lee & Man Paper Manufacturing Ltd		1,128
	526,448		LEE Chang Yung Chem IND Corp		280
	7,902	e	Lenzing AG.		532
	73,859		LG Chem Ltd		14,993
	9,711		LG Chem Ltd (Preference)		1,327
	365,938		Linde AG.		74,413
	51,600		Lintec Corp		1,227
	6,177		Lion Chemtech Co Ltd		99
	18,611		Lock & Lock Co Ltd		215
	1,420,901		Long Chen Paper Co Ltd		597
	456,829	*,e	Lonmin plc		794
	7,297,602	*,a,e	Louisiana-Pacific Corp		120,483
	67,481	*	LSB Industries, Inc		2,789
	714,309		Lucara Diamond Corp		1,004
	476,000		Luks Group Vietnam Holdings Ltd		153
	657,910	*,e	Lundin Mining Corp		2,654
	1,090,610		LyondellBasell Industries AF S.C.A		95,756
	87,360		Madras Cements Ltd		427
	62,475	*	MAG. Silver Corp		387
	183,000		Magnesita Refratarios S.A.		134
	39,837		Maharashtra Seamless Ltd		125
	85,878		Major Drilling Group International		466
	1,359,500		Maple Leaf Cement Factory Ltd		641
	98,461		Mardin Cimento Sanayii		183
	35,037	*,e	Marrone Bio Innovations, Inc		136
	73,641	e	Martin Marietta Materials, Inc		10,295
	39,024	e	Maruichi Steel Tube Ltd		924
	17,807		Mayr-Melnhof Karton AG.		1,838
	185,210		MeadWestvaco Corp		9,236
	1,509,124		Merafe Resources Ltd		98
	548,357		Metals X Ltd		500
	1,139,152		Metalurgica Gerdau S.A.		3,858
	167,159	e	Methanex Corp		8,950
	1,042,584	e	Mexichem SAB de C.V.		2,723
	1,086,000	e	Midas Holdings Ltd		237
	612,222	*,e	Minera Frisco SAB de C.V.		660
	110,479		Minerals Technologies, Inc		8,076
	8,052		Miquel y Costas & Miquel S.A.		286
	2,065,565		Mitsubishi Chemical Holdings Corp		11,991
	336,158		Mitsubishi Gas Chemical Co, Inc		1,654
	1,578,693		Mitsubishi Materials Corp		5,305
	317,000	*	Mitsubishi Paper Mills Ltd		227
	481,000		Mitsubishi Steel Manufacturing Co Ltd		1,012
	677,066		Mitsui Chemicals, Inc		2,171
	930,000		Mitsui Mining & Smelting Co Ltd		2,115
	155,372	*,e	Mittal Steel South Africa Ltd		242
	1,511,170		MMC Norilsk Nickel (ADR)		26,937
	4,624,000	e	MMG Ltd		1,525
	71,169		MOIL Ltd		314

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	184,810		Mondi Ltd	$	3,535
	998,580		Mondi plc		19,190
	12,981	*,m	Mongolian Metals Corporation		0	^
	1,281,819		Monsanto Co		144,256
	3,197		Monsanto India Ltd		146
	14,568		Moorim P&P Co Ltd		60
	623,737		Mosaic Co		28,729
	695,573	e	Mount Gibson Iron Ltd		116
	200,330		Mpact Ltd		710
	459,539	e	M-real Oyj (B Shares)		2,818
	74,314		Myers Industries, Inc		1,303
	109,124	*	Mytilineos Holdings S.A.		653
	531,194	*,m	Nagarjuna Fertilizers & Chemicals		67
	187,000	*	Nakayama Steel Works Ltd		143
	105,709		Namhae Chemical Corp		867
	623,042		Nampak Ltd		2,087
	5,838,813		Nan Ya Plastics Corp		12,948
	299,474		Nantex Industry Co Ltd		164
	78,921		Neenah Paper, Inc		4,936
	26,800		Neturen Co Ltd		198
	465,797		Nevsun Resources Ltd		1,570
	694,384	*	New Gold, Inc		2,330
	1,424,068	*	Newcrest Mining Ltd		14,362
	50,790		NewMarket Corp		24,267
	922,370		Newmont Mining Corp		20,025
	2,109,075		Nickel Asia Corp		1,130
	122,200		Nihon Nohyaku Co Ltd		1,222
	87,748		Nihon Parkerizing Co Ltd		1,061
	2,348,684		Nine Dragons Paper Holdings Ltd		1,469
	265,500	*	Nippon Denko Co Ltd		636
	158,000		Nippon Kayaku Co Ltd		1,978
	2,433,100		Nippon Light Metal Holdings Co Ltd		3,604
	327,932	e	Nippon Paint Co Ltd		11,988
	490,900	e	Nippon Paper Industries Co Ltd		7,377
	230,000		Nippon Shokubai Co Ltd		3,367
	289,000		Nippon Soda Co Ltd		1,677
	6,990,572		Nippon Steel Corp		17,577
	47,810		Nippon Synthetic Chemical Industry Co Ltd		317
	131,000		Nippon Valqua Industries Ltd		340
	121,600	*,e	Nippon Yakin Kogyo Co Ltd		240
	130,900		Nissan Chemical Industries Ltd		2,705
	319,300	e	Nisshin Steel Holdings Co Ltd		3,985
	135,000		Nittetsu Mining Co Ltd		499
	315,163		Nitto Denko Corp		21,045
	145,921		NOF Corp		1,082
	157,920		Noranda Aluminium Holding Corp		469
	229,233	e	Norbord, Inc		4,825
	4,442,999		Norsk Hydro ASA		23,354
	7,810,000	*	North Mining Shares Co Ltd		363
	408,512	*	Northam Platinum Ltd		1,544
	532,636	e	Northern Star Resources Ltd		921
	388,864	*	Novagold Resources, Inc		1,145

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	4,574		Novolipetsk Steel (GDR)	$	61
	482,380		Novozymes AS		22,020
	667,349		Nucor Corp		31,719
	1,079,032	e	Nufarm Ltd		5,445
	281,142		Nuplex Industries Ltd		672
	1,086,273	*,e	Nyrstar		4,261
	86,450	*,m	Nyrstar (Strip VVPR)		0	^
	156,000	*	Ocean Plastics Co Ltd		187
	849,636		OceanaGold Corp		1,617
	72,873	*	OCI NV		2,255
	704,143		OJI Paper Co Ltd		2,881
	119,000		Okamoto Industries, Inc		455
	264,897	e	Olin Corp		8,487
	31,569	e	Olympic Steel, Inc		425
	117,997		OM Group, Inc		3,543
	77,131		Omnia Holdings Ltd		1,097
	122,873	*	Omnova Solutions, Inc		1,048
	12,387,361		OneSteel Ltd		1,592
	603,056	e	Orica Ltd		9,158
	476,600		Oriental Union Chemical Corp		420
	1,457,421		Orora Ltd		2,512
	13,700		Osaka Steel Co Ltd		243
	211,789	e	Osisko Gold Royalties Ltd		2,799
	188,465	*,e	Outokumpu Oyj		1,498
	920,000		Overseas Chinese Town Asia Holdings Ltd		469
	177,939	*	Owens-Illinois, Inc		4,150
	1,524,294		Oxiana Ltd		4,545
	133,507	e	Pacific Metals Co Ltd		363
	13,800		Pack Corp		298
	1,021,324		Packaging Corp of America		79,857
	526,899		Pact Group Holdings Ltd		1,690
	170,921		Pan American Silver Corp		1,501
	530,848	e	Pan Australian Resources Ltd		691
	130,527		Papeles y Cartones de Europa S.A.		708
	354,500	*	Paranapanema S.A.		328
	1,059,319		Park Elektrik Madencilik Sanayi Ve Ticaret AS		1,405
	112,002		Petkim Petrokimya Holding		149
	391,004	*	Petra Diamonds Ltd		1,054
	3,276,263		Petronas Chemicals Group BHD		4,979
	76,049		PI Industries Ltd		737
	264,041	*,m	Pike River Coal Ltd		0	^
	193,026	*	Platform Specialty Products Corp		4,953
	275,011		PolyOne Corp		10,272
	6,796		Poongsan		251
	98,967		Poongsan Corp		2,202
	531,079		Portucel Empresa Produtora de Pasta e Papel S.A.		2,374
	129,135		POSCO		28,225
	5,532		POSCO Refractories & Environment Co Ltd		702
	1,617,841	e	Potash Corp of Saskatchewan		52,155
	997,840	e	PPC Ltd		1,508
	1,001,205		PPG Industries, Inc		225,812
	378,856		Praxair, Inc		45,743

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	148,708	*,e	Premier Gold Mines Ltd	$	288
	1,477,200		Press Metal BHD		1,317
	96,679	*,e	Pretium Resources, Inc		487
	169,600	*	Primero Mining Corp		572
	77,220	*	Prism Cement Ltd		124
	2,906,500		PT Aneka Tambang Tbk		192
	5,566,400	*	PT Hanson International Tbk		321
	1,603,520		PT Indocement Tunggal Prakarsa Tbk		2,686
	4,250,200	*	PT Krakatau Steel Tbk		139
	268,200		PT Semen Baturaja Persero Tbk		7
	3,275,689		PT Semen Gresik Persero Tbk		3,415
	2,661,657		PT Timah Tbk		193
	9,971,400		PT Vale Indonesia Tbk		2,464
	1,807,700	*	PT Wijaya Karya Beton Tbk		175
	5,454,226		PTT Global Chemical PCL (Foreign)		8,758
	24,240		Qatar National Cement Co		787
	26,492		Qatari Investors Group		280
	39,364		Quaker Chemical Corp		3,371
	34,408		Rallis India Ltd		125
	109,224		Randgold Resources Ltd		7,572
	185,020	e	Rayonier Advanced Materials, Inc		2,757
	337,560	e	Regis Resources Ltd		335
	133,680		Reliance Steel & Aluminum Co		8,165
	222,767	e	Rengo Co Ltd		943
	638,790	*	Rentech, Inc		715
	224,935	*	Resolute Forest Products		3,880
	363,328		Rexam plc		3,114
	22,293	e	RHI AG.		654
	550,232	*	Rio Alto Mining Ltd		1,370
	533,779		Rio Tinto Ltd		23,129
	1,691,275		Rio Tinto plc		69,743
	379,702		Rock-Tenn Co (Class A)		24,491
	1,319,200	*	Romarco Minerals, Inc		448
	47,666		Rotam Global Agrosciences Ltd		70
	62,206	*,e	Royal Bafokeng Platinum Ltd		266
	142,440	e	Royal Gold, Inc		8,989
	555,363		RPC Group plc		4,768
	850,395		RPM International, Inc		40,810
	107,735	*,e	RTI International Metals, Inc		3,869
	362,789	*	Rubicon Minerals Corp		329
	26,815	*,e	Ryerson Holding Corp		171
	21,224		Sa des Ciments Vicat		1,554
	192,000		Sakai Chemical Industry Co Ltd		624
	85,400		Sakata INX Corp		802
	38,694		Salzgitter AG.		1,122
	2,450		Sam Kwang Glass Ind Co Ltd		190
	16,457		Samsung Fine Chemicals Co Ltd		614
	285,031		San Fang Chemical Industry Co Ltd		364
	99,270		Sandfire Resources NL		332
	123,109	*,e	Sandstorm Gold Ltd		399
	11,282	*	Sansung Life & Science Co Ltd		689
	135,000		Sanyo Chemical Industries Ltd		1,061

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	311,000	*	Sanyo Special Steel Co Ltd	$	1,302
	903,301	*	Sappi Ltd		3,644
	248,584		Satipel Industrial S.A.		678
	597,149	*,e	Schmolz + Bickenbach AG.		590
	90,657	e	Schnitzer Steel Industries, Inc (Class A)		1,438
	155,200		Schweitzer-Mauduit International, Inc		7,158
	142,500		Scientex BHD		261
	120,476		Scotts Miracle-Gro Co (Class A)		8,092
	38,893	*,e	Seabridge Gold, Inc		214
	60,077		Seah Besteel Corp		1,804
	1,576		SeAH Holdings Corp		242
	13,559		SeAH Steel Corp		981
	1,880,724		Sealed Air Corp		85,686
	1,714,000		Sekisui Plastics Co Ltd		6,264
	280,815	*	SEMAFO, Inc		847
	134,071		Semapa-Sociedade de Investimento e Gestao		1,793
	119,478	*,e	Senomyx, Inc		527
	163,913		Sensient Technologies Corp		11,290
	2,110,612		Sesa Sterlite Ltd		6,432
	707,021		Severstal (GDR)		7,948
	1,753,000		Shandong Chenming Paper Holdings Ltd		974
	2,196,207		Shandong Chenming Paper Holdings Ltd (Class B)		1,323
	323,300		Shanghai Chlor-Alkali Chemical Co Ltd		184
	113,400		Shanghai Yaohua Pilkington Glass Co Ltd		76
	399,000		Sheng Yu Steel Co Ltd		272
	333,629		Sherritt International Corp		551
	389,414		Sherwin-Williams Co		110,788
	233,000	*	Shihlin Paper Corp		279
	34,000		Shikoku Chemicals Corp		272
	601,937		Shin-Etsu Chemical Co Ltd		39,299
	97,800		Shin-Etsu Polymer Co Ltd		462
	3,015,032		Shinkong Synthetic Fibers Corp		1,034
	58,684		Shiny Chemical Industrial Co Ltd		83
	4,758,000	*,e	Shougang Concord International Enterprises Co Ltd		215
	2,541,000		Showa Denko KK		3,236
	11,791		Shree Cement Ltd		2,037
	5,100		Siam Cement PCL		80
	460,616		Siam Cement PCL (Foreign)		7,219
	38,480	*	Siam City Cement PCL		451
	2,986,714		Sibanye Gold Ltd		6,369
	168,017		Sigma-Aldrich Corp		23,228
	1,131,000	*,m	Sijia Group Co		1
	1,863		Sika AG.		6,670
	168,054		Silgan Holdings, Inc		9,769
	85,842	*	Silver Standard Resources, Inc		388
	357,548		Silver Wheaton Corp		6,792
	149,504	e	Silvercorp Metals, Inc		174
	262,683	e	Sims Group Ltd		2,467
	1,920,000	*	Sinofert Holdings Ltd		389
	14,448,798		Sinopec Shanghai Petrochemical Co Ltd		5,386
	290,497	*,e	Sirius Resources NL		598
	29,196		SK Chemicals Co Ltd		1,671

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	109,329		SKC Co Ltd	$	3,548
	995,752		Smurfit Kappa Group plc		27,980
	155,874		Sociedad Quimica y Minera de Chile S.A. (Class B)		2,829
	5,550		SODIFF Advanced Materials Co Ltd		472
	249,478		Solar Applied Materials Technology Co		210
	29,994		Solvay S.A.		4,336
	112,916		Sonoco Products Co		5,133
	221,034		South Valley Cement		185
	306,000		Southeast Cement Co Ltd		163
	1,989,167	e	Southern Copper Corp (NY)		58,044
	216,337	*,e	Ssab Svenskt Stal AB (Series A)		1,065
	186,530	*,e	Ssab Svenskt Stal AB (Series B)		829
	17,238	*	Ssangyong Cement Industrial Co Ltd		252
	1,275,107		Steel Dynamics, Inc		25,630
	35,800		Stella-Jones, Inc		1,124
	101,355		Stepan Co		4,222
	327,059	*	Stillwater Mining Co		4,226
	5,251		STO AG.		881
	1,073,788		Stora Enso Oyj (R Shares)		11,041
	1,255,221		Sumitomo Bakelite Co Ltd		5,582
	3,016,511		Sumitomo Chemical Co Ltd		15,482
	1,159,437		Sumitomo Metal Mining Co Ltd		16,946
	613,193		Sumitomo Osaka Cement Co Ltd		1,884
	88,000		Sumitomo Seika Chemicals Co Ltd		626
	17,812	e	Sumitomo Titanium Corp		377
	198,766		SunCoke Energy, Inc		2,970
	4,450,000	*,e,m	Superb Summit International Group Ltd		729
	494,400	*	Superblock PCL		33
	37,598		Supreme Industries Ltd		428
	455,456		Suzano Papel e Celulose S.A.		2,111
	445,000		Swancor Ind Co Ltd		3,245
	189,705		Symrise AG.		11,962
	179,003		Syngenta AG.		60,812
	1,388,526		Synthos S.A.		1,609
	103,485	*,e	Syrah Resources Ltd		291
	286,800		Ta Ann Holdings BHD		302
	1,870,320		TA Chen Stainless Pipe		1,265
	649		Taekwang Industrial Co Ltd		704
	369,449	e	Tahoe Resources, Inc		4,049
	89,989		Tahoe Resources, Inc (Toronto)		986
	1,974,516		Taiheiyo Cement Corp		6,029
	8,699,290		Taiwan Cement Corp		12,243
	884,960		Taiwan Fertilizer Co Ltd		1,533
	223,345		Taiwan Hon Chuan Enterprise Co Ltd		431
	2,239,729		Taiwan Styrene Monomer		1,061
	17,500		Taiyo Ink Manufacturing Co Ltd		615
	253,033	e	Taiyo Nippon Sanso Corp		3,443
	68,000		Takasago International Corp		308
	117,000		Takiron Co Ltd		510
	238,684	*	Taseko Mines Ltd		151
	942,647		Tata Steel Ltd		4,778
	1,276,000		TCC International Holdings Ltd		464

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	8,479		Technosemichem Co Ltd	$	355
	854,076		Teck Cominco Ltd		11,720
	8,461,018		Teijin Ltd		28,707
	28,796		Ten Cate NV		650
	36,800		Tenma Corp		586
	32,480	*	Tessenderlo Chemie NV		927
	253,038	e	TFS Corp Ltd		339
	207,753	*,e	Thompson Creek Metals Co, Inc (Toronto)		274
	317,275		Thye Ming Industrial Co Ltd		395
	328,661		ThyssenKrupp AG.		8,604
	4,374,000	e	Tiangong International Co Ltd		711
	87,992		TimkenSteel Corp		2,329
	173,700	*,e	Timmins Gold Corp		119
	45,245		Titan Cement Co S.A.		1,036
	243,000		Toagosei Co Ltd		1,108
	29,100	*,e	Toho Titanium Co Ltd		214
	258,000		Toho Zinc Co Ltd		813
	655,000		Tokai Carbon Co Ltd		1,840
	1,822,000	e	Tokuyama Corp		3,818
	74,000		Tokyo Ohka Kogyo Co Ltd		2,391
	114,796	*	Tokyo Rope Manufacturing Co Ltd		182
	102,800		Tokyo Steel Manufacturing Co Ltd		688
	644,750		Ton Yi Industrial Corp		448
	176,000		Topy Industries Ltd		408
	429,572		Toray Industries, Inc		3,596
	1,020,000		Tosoh Corp		5,138
	676,000		Toyo Ink Manufacturing Co Ltd		3,163
	39,800		Toyo Kohan Co Ltd		182
	128,641		Toyo Seikan Kaisha Ltd		1,882
	1,825,676		Toyobo Co Ltd		2,462
	5,470,300		TPI Polene PCL		480
	52,936	*	Trecora Resources		646
	84,804		Tredegar Corp		1,705
	160,876	*,e	Trinseo S.A.		3,185
	210,997		Tronox Ltd		4,290
	666,512		TSRC Corp		712
	86,837		Tubacex S.A.		277
	83,561	e	Tubos Reunidos S.A.		161
	1,576,900		Tung Ho Steel Enterprise Corp		1,192
	1,168,339	*	Turquoise Hill Resources Ltd		3,644
	1,836,647		UBE Industries Ltd		2,874
	22,486	*	UFP Technologies, Inc		512
	56,435		Ultra Tech Cement Ltd		2,596
	27,961		Umicore		1,168
	10,353		Unid Co Ltd		596
	13,466		United States Lime & Minerals, Inc		869
	825,931	e	United States Steel Corp		20,153
	371,040		Universal Cement Corp		349
	26,975	*	Universal Stainless & Alloy		707
	544,532		UPC Technology Corp		200
	1,669,398		UPM-Kymmene Oyj		32,431
	431,186		Uralkali (GDR)		5,742

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	37,295	*	US Concrete, Inc	$	1,264
	626,870		USI Corp		324
	344,482	*	Usinas Siderurgicas de Minas Gerais S.A. (Preference)		536
	1,895,207		Vale S.A.		10,653
	2,579,150		Vale S.A. (Preference)		12,485
	199,878		Valspar Corp		16,796
	93,363	e	Vedanta Resources plc		690
	471		Vetropack Holding AG.		738
	203,569		Victrex plc		5,654
	236,040		Voestalpine AG.		8,634
	47,661		Vulcan Materials Co		4,018
	355,323	e	Wacker Chemie AG.		41,014
	118,670		Wausau Paper Corp		1,131
	7,412,000		West China Cement Ltd		1,118
	165,502		West Fraser Timber Co Ltd		8,468
	787,960		Western Areas NL		2,129
	287,718	*,e,m	Western Desert Resources Ltd		2
	1,518,690		Western Forest Products, Inc		2,362
	421,258		Westlake Chemical Corp		30,305
	5,585	*	WHX Corp		229
	182,747	*	Worthington Industries, Inc		4,863
	732,304	*	WR Grace & Co		72,403
	723,000	*	Xinjiang Xinxin Mining Industry Co Ltd		132
	1,557,048		Yamana Gold, Inc		5,581
	8,512		Yamato Kogyo Co Ltd		205
	319,471		Yara International ASA		16,220
	41,391		Yeong Guan Energy Technology Group Co Ltd		246
	1,258,000		Yeun Chyang Industrial Co Ltd		970
	1,037,803		Yieh Phui Enterprise		314
	1,424,270		Yingde Gases		1,062
	522,000		Yip’s Chemical Holdings Ltd		294
	110,000		Yodogawa Steel Works Ltd		436
	4,858		Youlchon Chemical Co Ltd		50
	986,500		Youyuan International Holdings Ltd		229
	1,351,285		Yuen Foong Yu Paper Manufacturing Co Ltd		543
	538,265		Yule Catto & Co plc		2,462
	163,000		Yung Chi Paint & Varnish Manufacturing Co Ltd		440
	43,244		Zaklady Azotowe w Tarnowie-Moscicach S.A.		924
	332,512		Zeon Corp		3,068
	72,511		Zep, Inc		1,235
	706,500	e	Zhaojin Mining Industry Co Ltd		376
	28,295		Zignago Vetro S.p.A.		173
	23,242,220	e	Zijin Mining Group Co Ltd		7,359
			TOTAL MATERIALS		6,127,532
MEDIA - 3.4%
	1,801,370		ABS-CBN Holdings Corp (ADR)		2,530
	14,400	e	Adways, Inc		117
	64,713		AH Belo Corp (Class A)		533
	176,711		Aimia, Inc		1,801
	5,200,000	*,e,m	Alibaba Pictures Group Ltd		1,918
	142,478	*	Altice S.A.		15,450

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	76,560		AMC Entertainment Holdings, Inc	$	2,717
	765,318	*	AMC Networks, Inc		58,654
	68,383	e	Antena 3 de Television S.A.		1,034
	1,860,666	*	APN News & Media Ltd		1,406
	103,500	*	Asatsu-DK, Inc		2,819
	2,769,245		Astro Malaysia Holdings BHD		2,389
	37,559		Avex Group Holdings, Inc		599
	44,355		Axel Springer AG.		2,618
	1,128,723		BEC World PCL (Foreign)		1,422
	119,801	*	Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS		106
	225,945	e	Borussia Dortmund GmbH & Co KGaA		858
	10,445,451		British Sky Broadcasting plc		153,673
	25,000	e	Broccoli Co Ltd		131
	259,385	e	Cablevision Systems Corp (Class A)		4,747
	25,189	e	Cairo Communication S.p.A.		149
	88,617	*	Carmike Cinemas, Inc		2,978
	2,181,281		CBS Corp (Class B)		132,251
	78,647	*	Central European Media Enterprises Ltd (Class A)		206
	255,045	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		678
	241,263	*	Charter Communications, Inc		46,590
	83,810	*	Cheil Communications, Inc		1,816
	268,720	*	Cinedigm Corp		435
	318,627		Cinemark Holdings, Inc		14,361
	63,864	e	Cineplex Galaxy Income Fund		2,515
	262,628		Cineworld Group plc		1,870
	434,000	*	City Telecom (HK) Ltd		172
	11,103		CJ CGV Co Ltd		677
	19,298	*	CJ E&M Corp		946
	26,766		CJ Hellovision Co Ltd		298
	37,294		Clear Channel Outdoor Holdings, Inc (Class A)		377
	66,206		Cogeco Cable, Inc		3,550
	11,533,227	e	Comcast Corp (Class A)		651,281
	4,419	e	Comcast Corp (Special Class A)		248
	171,325	*,e	Corus Entertainment, Inc		2,603
	123,975	*	Crown Media Holdings, Inc (Class A)		496
	43,286		CTS Eventim AG.		1,364
	419,268	*,e	Cumulus Media, Inc (Class A)		1,036
	100,000		CyberAgent, Inc		5,728
	177,007		Cyfrowy Polsat S.A.		1,164
	49,300		Daiichikosho Co Ltd		1,531
	3,995	*,e	Daily Journal Corp		732
	602,008		Daily Mail & General Trust		7,875
	36,249	*	DEN Networks Ltd		70
	219,155		Dentsu, Inc		9,375
	147,852	*,e	Dex Media, Inc		620
	53,000		DHX Media Ltd		381
	1,104,433	*	DIRECTV		93,987
	310,864	*,e	Discovery Communications, Inc (Class A)		9,562
	550,782	*,e	Discovery Communications, Inc (Class C)		16,234
	1,179,618	*	DISH Network Corp (Class A)		82,644
	367,416	*,e	DreamWorks Animation SKG, Inc (Class A)		8,891

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	5,869,200	*	E for L Aim PCL	$	195
	80,538	*	Entercom Communications Corp (Class A)		979
	551,200		Entertainment One Ltd		2,468
	226,771		Entravision Communications Corp (Class A)		1,435
	193,202	*	Eros International Media Ltd		1,239
	1,362,150	*,e	Eros International plc		23,797
	4,000,000	*	eSun Holdings Ltd		372
	37,290		Eutelsat Communications		1,237
	108,946	*	EW Scripps Co (Class A)		3,098
	4,533		Fenerbahce Sportif Hizmetleri Sanayi ve Ticaret AS		62
	354,000		Fuji Television Network, Inc		5,018
	27,000		Gakken Co Ltd		58
	381,147		Gannett Co, Inc		14,133
	686,204	*	Gestevision Telecinco S.A.		8,590
	116,593	*,e	Global Eagle Entertainment, Inc		1,552
	133,848	*	Gray Television, Inc		1,850
	5,066,612		Grupo Televisa S.A.		33,482
	131,150	*,e	Gruppo Editoriale L’Espresso S.p.A.		175
	386,901		Hakuhodo DY Holdings, Inc		4,113
	167,826		Harte-Hanks, Inc		1,309
	88,388		Havas S.A.		671
	34,626	*,e	Hemisphere Media Group, Inc		438
	18,717		Hyundai Hy Communications & Network Co		83
	243,905	*	IBN18 Broadcast Ltd		118
	771,646		Informa plc		6,442
	3,565,509		Interpublic Group of Cos, Inc		78,869
	109,597		IPSOS		3,067
	8,767,177		ITV plc		32,825
	142,654		Jagran Prakashan Ltd		294
	626,195		JC Decaux S.A.		21,086
	7,619,495		John Fairfax Holdings Ltd		5,516
	154,620		John Wiley & Sons, Inc (Class A)		9,453
	146,840	*	Journal Communications, Inc (Class A)		2,176
	431,999	*,e	Juventus Football Club S.p.A.		121
	9,312	*	Kabel Deutschland Holding AG.		1,209
	43,632	*	Kadokawa Dwango Corp		684
	16,099		Kinepolis Group NV		621
	18,073		KT Skylife Co Ltd		301
	63,739		Lagardere S.C.A.		1,916
	177,269	*,e	Lee Enterprises, Inc		562
	45,503	*	Liberty Broadband Corp (Class A)		2,570
	109,054	*	Liberty Broadband Corp (Class C)		6,172
	116,175	*	Liberty Global plc		5,787
	383,090	*	Liberty Global plc (Class A)		19,718
	183,137	*	Liberty Media Corp		7,060
	332,538	*	Liberty Media Corp (Class C)		12,703
	795,691	e	Lions Gate Entertainment Corp		26,990
	365,089	*	Live Nation, Inc		9,211
	5,235		Loen Entertainment, Inc		218
	33,596	*	Loral Space & Communications, Inc		2,299
	58,706		M6-Metropole Television		1,177
	141,807	*	Madison Square Garden, Inc		12,004

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	582,100		Major Cineplex Group PCL	$	586
	89,522	*	Martha Stewart Living Omnimedia, Inc (Class A)		582
	351,774	*,e	McClatchy Co (Class A)		647
	235,663		MDC Partners, Inc		6,681
	1,173,100		Media Chinese International Ltd		215
	252,993	*	Media General, Inc		4,172
	1,880,200		Media Prima BHD		863
	1,659,592	*	Mediaset S.p.A.		7,554
	2,640,000	*	Mei Ah Entertainment Group Ltd		221
	122,331		Meredith Corp		6,822
	56,360		Modern Times Group AB (B Shares)		1,726
	81,914		Morningstar, Inc		6,136
	198,200		Multiplus S.A.		2,032
	827,094		Naspers Ltd (N Shares)		126,869
	207,734		National CineMedia, Inc		3,137
	137,894		New Media Investment Group, Inc		3,300
	469,704		New York Times Co (Class A)		6,463
	160,347	*	News Corp		2,567
	82,923		Nexstar Broadcasting Group, Inc (Class A)		4,745
	19,900	e	Next Co Ltd		198
	8,406		NextRadioTV		258
	514,579	e	Nine Entertainment Co Holdings Ltd		824
	131,086	*	Numericable SAS		7,152
	424,560		Omnicom Group, Inc		33,107
	793,577		Pearson plc		17,081
	1,446,000		Phoenix Satellite Television Holdings Ltd		458
	63,700	*,e	Poly Culture Group Corp Ltd		195
	283,080	*,e	Premiere AG.		2,058
	1,709,899	*,e	Promotora de Informaciones S.A.		548
	838,041		ProSiebenSat. Media AG.		40,991
	10,000		Proto Corp		162
	51,038,600		PT Bhakti Investama Tbk		1,167
	6,602,834		PT Global MediaCom Tbk		882
	4,796,763		PT Media Nusantara Citra Tbk		1,050
	1,763,300		PT MNC Sky Vision Tbk		223
	183,879		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		1,333
	4,790,475		PT Surya Citra Media Tbk		1,243
	4,905,000	*	PT Visi Media Asia Tbk		201
	139,254		Publicis Groupe S.A.		10,744
	16,731		PVR Ltd		177
	108,715	e	Quebecor, Inc		2,908
	69,623	*,e	Radio One, Inc		214
	223,720	*,e	RCS MediaGroup S.p.A.		273
	185,556		REA Group Ltd		6,797
	43,803	*,e	ReachLocal, Inc		127
	63,022	*	Reading International, Inc		848
	2,374,974		Reed Elsevier NV		59,179
	3,288,874		Reed Elsevier plc		56,562
	92,173	e	Regal Entertainment Group (Class A)		2,105
	189,517	*,e	Rentrak Corp		10,530
	178,733		Rightmove plc		7,929

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	491,100		RS PCL	$	234
	364,507		RTL Group		35,051
	14,487		Saga Communications, Inc		645
	41,670		Salem Communications		257
	80,594	e	Sanoma-WSOY Oyj		444
	36,431		SBS Media Holdings Co Ltd		160
	76,592		Schibsted ASA		4,429
	90,193		Scholastic Corp		3,693
	277,846	e	Scripps Networks Interactive (Class A)		19,049
	417,879		SES Global S.A.		14,814
	153,873	*,e	SFX Entertainment, Inc		629
	851,471	e	Shaw Communications, Inc (B Shares)		19,106
	85,000		Shochiku Co Ltd		798
	187,975	e	Sinclair Broadcast Group, Inc (Class A)		5,904
	1,262,001	e	Singapore Press Holdings Ltd		3,852
	947,000	e	SinoMedia Holding Ltd		457
	55,016		Sirius XM Canada Holdings, Inc		239
	7,438,561	*	Sirius XM Holdings, Inc		28,415
	76,646	*,e	Sizmek, Inc		556
	1,925,177	e	Sky Network Television Ltd		8,495
	415,000		Sky Perfect Jsat Corp		2,574
	15,261	*	SM Entertainment Co		492
	7,264,000		SMI Holdings Group Ltd		300
	365,000		Smiles S.A.		5,775
	946,045		Societe Television Francaise 1		16,704
	945,649	*	Solocal Group		627
	1,588,980		Southern Cross Media Group		1,387
	267,800		Star Publications Malaysia BHD		177
	566,510	*	Starz-Liberty Capital		19,494
	83,202		Stroer Out-of-Home Media AG.		2,841
	367,883	e	STW Communications Group Ltd		194
	355,301		Sun TV Network Ltd		2,505
	101,197	*	Telenet Group Holding NV		5,568
	2,570,743		Television Broadcasts Ltd		15,884
	1,648,781	*,e	Ten Network Holdings Ltd		256
	624,304		Thomson Corp		25,322
	1,133,121		Thomson Corp (Toronto)		45,940
	1,600,758		Time Warner Cable, Inc		239,922
	4,641,882		Time Warner, Inc		391,961
	366,819		Time, Inc		8,231
	181,600	e	Toei Animation Co Ltd		5,372
	834,885		Toei Co Ltd		6,203
	89,123		Toho Co Ltd		2,179
	34,500		Tohokushinsha Film Corp		290
	175,400		Tokyo Broadcasting System, Inc		2,212
	1,424,000	*	Tom Group Ltd		409
	19,564	*,e	Townsquare Media, Inc		251
	417,406	*	Tribune Co		25,382
	33,173		Tribune Publishing Co		644
	499,732	*	Trinity Mirror plc		1,344
	71,900		TV Asahi Corp		1,199
	1,089,563	e	TV Azteca S.A. de C.V.		406

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	283,245	*	TVN S.A.	$	1,282
	3,711,500		Twenty-First Century Fox, Inc		125,597
	4,251		Twenty-First Century Fox, Inc (Class B)		140
	1,304,889		United Business Media Ltd		10,220
	109,146	*	Usen Corp		326
	9,800		ValueCommerce Co Ltd		47
	3,016,000		VGI Global Media PCL		505
	2,235,935		Viacom, Inc (Class B)		152,714
	84,319	e	Village Roadshow Ltd		360
	2,757,600	*	Viva China Holdings Ltd		281
	1,308,810		Vivendi Universal S.A.		32,495
	6,762,169		Walt Disney Co		709,284
	714,916	e	West Australian Newspapers Holdings Ltd		726
	2,823,000	e	Wisdom Holdings Group		1,808
	153,438		Wolters Kluwer NV		5,010
	11,803	*	Woongjin Thinkbig Co Ltd		99
	96,241	e	World Wrestling Entertainment, Inc (Class A)		1,348
	3,044,087		WPP plc		69,133
	29,005	*	Yellow Pages Ltd		352
	7,987		YG Entertainment, Inc		336
	469,601	*	Zee Entertainment Enterprises Ltd		616
	682,815		ZEE Telefilms Ltd		3,729
	26,600		Zenrin Co Ltd		328
			TOTAL MEDIA		4,287,586
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 9.1%
	14,900	*,e	3-D Matrix Ltd		126
	12,379	*,e	AB Science S.A.		202
	7,881,981		AbbVie, Inc		461,411
	198,296		Abcam plc		1,424
	51,654	*,e	Ablynx NV		502
	227,657	*,e	Acadia Pharmaceuticals, Inc		7,419
	62,108	*,e	Accelerate Diagnostics, Inc		1,397
	45,117	*,e	Acceleron Pharma, Inc		1,717
	70,197	*,e	AcelRx Pharmaceuticals, Inc		271
	16,804	*,e	Achaogen, Inc		164
	406,870	*,e	Achillion Pharmaceuticals, Inc		4,012
	179,026	*,e	Acorda Therapeutics, Inc		5,958
	2,029,009	*	Actavis plc		603,874
	160,990		Actelion Ltd		18,568
	93,970	*,e	Actinium Pharmaceuticals, Inc		232
	48,177	*,e	Active Biotech AB		145
	9,497	*,e	Adamas Pharmaceuticals, Inc		166
	110,002	*,e	Adcock Ingram Holdings Ltd		472
	83,000	*	Adimmune Corp		73
	88,100	*,e	Aegerion Pharmaceuticals, Inc		2,306
	34,082	*,e	Aerie Pharmaceuticals, Inc		1,068
	317,989	*,e	Affymetrix, Inc		3,994
	175,098	*,e	Agenus, Inc		898
	1,093,342		Agilent Technologies, Inc		45,428
	38,869	*,e	Agios Pharmaceuticals, Inc		3,665
	22,881	*,e	Akebia Therapeutics, Inc		254

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	167,084	*	Akorn, Inc	$	7,938
	81,941	*,e	Albany Molecular Research, Inc		1,442
	27,281	*	Alder Biopharmaceuticals, Inc		787
	98,972		Alembic Pharmaceuticals Ltd		718
	925,645	*	Alexion Pharmaceuticals, Inc		160,414
	68,254	*,e	Alimera Sciences, Inc		342
	5,914	e	ALK-Abello AS		634
	874,178	*	Alkermes plc		53,299
	63,028	*	Alnylam Pharmaceuticals, Inc		6,581
	73,594	*,e	AMAG Pharmaceuticals, Inc		4,023
	2,410,385		Amgen, Inc		385,300
	5,575		Amicogen, Inc		288
	21,562	*,e	Amphastar Pharmaceuticals, Inc		323
	115,029	*,e	Ampio Pharmaceuticals, Inc		866
	127,812	*,e	Anacor Pharmaceuticals, Inc		7,394
	28,340	*,e	ANI Pharmaceuticals, Inc		1,773
	14,948	*	Applied Genetic Technologies Corp		299
	79,990	*,e	Aratana Therapeutics, Inc		1,281
	9,958	*,e	Ardelyx, Inc		130
	1,154,558	*,e	Arena Pharmaceuticals, Inc		5,045
	684,663	*,e	Ariad Pharmaceuticals, Inc		5,642
	472,868	*,e	Array Biopharma, Inc		3,485
	314,408	*,e	Arrowhead Research Corp		2,127
	159,188		Ascendis Health Ltd		197
	17,500		ASKA Pharmaceutical Co Ltd		175
	431,452		Aspen Pharmacare Holdings Ltd		13,632
	2,935,103		Astellas Pharma, Inc		48,091
	4,507	*,e	Asterias Biotherapeutics, Inc		30
	7,016	*	AstraZeneca Pharma India Ltd		103
	1,880,638		AstraZeneca plc		129,046
	192,400		AstraZeneca plc (ADR)		13,166
	19,121	*,e	Atara Biotherapeutics, Inc		795
	318,175		Aurobindo Pharma Ltd		6,216
	46,249	*,e	Auspex Pharmaceuticals Inc		4,637
	21,144	*	Avalanche Biotechnologies, Inc		857
	9,621	*,e	Basilea Pharmaceutica		1,090
	130,303	*,e	Bavarian Nordic AS		6,656
	1,543,545		Bayer AG.		230,939
	218,000		Beijing Tong Ren Tang Chinese Medicine Co Ltd		321
	16,633	*	Bellicum Pharmaceuticals, Inc		385
	79,450		Biocon Ltd		596
	299,297	*,e	BioCryst Pharmaceuticals, Inc		2,703
	112,503	*,e	BioDelivery Sciences International, Inc		1,181
	28,500		Biogaia AB (B Shares)		654
	854,105	*	Biogen Idec, Inc		360,637
	1,158,716	*	BioMarin Pharmaceuticals, Inc		144,399
	84,653	*	Bioneer Corp		623
	221,851	*,e	Bio-Path Holdings, Inc		399
	72,688	*	Bio-Rad Laboratories, Inc (Class A)		9,826
	22,495	*	Biospecifics Technologies Corp		881
	97,738		Bio-Techne Corp		9,802
	2,067		Biotest AG.		218

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,685	e	Biotest AG. (Preference)	$	743
	141,803	*,e	BioTime, Inc		705
	15,000	*	Biovail Corp		2,979
	2,292,657	*	Biovitrum AB		24,176
	86,334	*	Bluebird Bio, Inc		10,427
	17,042		Boiron S.A.		1,828
	18,534		Boryung Pharmaceutical Co Ltd		736
	5,252,441		Bristol-Myers Squibb Co		338,782
	271,440	*	Bruker BioSciences Corp		5,013
	506,227	*	BTG plc		5,353
	45,017		Bukwang Pharmaceutical Co Ltd		1,070
	3,944	*,e	Calithera Biosciences, Inc		65
	189,719	*	Cambrex Corp		7,519
	46,221	*,e	Cara Therapeutics Inc		465
	157,104	*	Catalent, Inc		4,894
	3,995,493	*	Celgene Corp		460,600
	5,338		Cell Biotech Co Ltd		316
	317,221	*,e	Celldex Therapeutics, Inc		8,841
	273,080	*,e	Celltrion, Inc		17,154
	30,328	*,e	Cellular Dynamics International, Inc		498
	91,135	*,e	Cempra, Inc		3,127
	111,350	*	Center Laboratories, Inc		310
	221,263	*	Cepheid, Inc		12,590
	143,899	*	Charles River Laboratories International, Inc		11,410
	101,899	*,e	ChemoCentryx, Inc		769
	81,688	*,e	Chimerix, Inc		3,079
	10,235,300	e,m	China Animal Healthcare Ltd		6,865
	100,000	*	China Grand Pharmaceutical and Healthcare Holdings Ltd		21
	926,000		China Medical System Holdings Ltd		1,426
	3,064,777		China Pharmaceutical Group Ltd		2,593
	6,030,000	*	China Regenerative Medicine International Ltd		292
	736,000		China Shineway Pharmaceutical Group Ltd		1,117
	16,700	*,e	Chiome Bioscience Inc		135
	29,675		Chong Kun Dang Pharmaceutical Corp		1,823
	25,576		Choongwae Pharma Corp		377
	281,900		Chugai Pharmaceutical Co Ltd		8,897
	673,598		Cipla Ltd		7,666
	3,024,000		CK Life Sciences International Holdings, Inc		289
	149,791	e	Clinigen Group plc		1,192
	79,510	*,e	Clovis Oncology, Inc		5,902
	8,800	e	CMIC Co Ltd		142
	56,118	*,e	Coherus Biosciences, Inc		1,716
	19,069		Concordia Healthcare Corp		1,282
	315,000		Consun Pharmaceutical Group Ltd		219
	160,505	*,e	Corcept Therapeutics, Inc		899
	4,565	*,e	Cosmo Pharmaceuticals S.A.		761
	839,234		CSL Ltd		58,715
	16,000	*	CTC BIO, Inc		311
	567,292	*,e	CTI BioPharma Corp		1,027
	148,757	*,e	Cytokinetics, Inc		1,009
	338,091	*,e	Cytori Therapeutics, Inc		399

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	184,455	*,e	CytRx Corp	$	622
	2,314		Daewoong Co Ltd		99
	17,995		Daewoong Pharmaceutical Co Ltd		972
	812,880	e	Daiichi Sankyo Co Ltd		12,917
	354,706	e	Dainippon Sumitomo Pharma Co Ltd		4,201
	852,000	e	Dawnrays Pharmaceutical Holdings Ltd		615
	301,488	*,e	Depomed, Inc		6,756
	3,632	*,e	Dermira, Inc		56
	28,404	*,e	Dicerna Pharmaceuticals Inc		683
	52,378		Divi S Laboratories Ltd		1,495
	2,090		Dong-A Pharmaceutical Co Ltd		317
	3,229		Dong-A ST Co Ltd		345
	13,277		DongKook Pharmaceutical Co Ltd		424
	194,083		Dr Reddy’s Laboratories Ltd		10,880
	441,162	*	Dyax Corp		7,392
	91,242	*,e	Dynavax Technologies Corp		2,047
	11,236	*,e	Egalet Corp		145
	247,421		Eisai Co Ltd		17,599
	14,566	*,e	Eleven Biotheraputics Inc		130
	3,610,423		Eli Lilly & Co		262,297
	99,215	*	Emergent Biosolutions, Inc		2,853
	50,129	*,e	Enanta Pharmaceuticals, Inc		1,535
	1,012,291	*	Endo International plc		90,802
	107,092	*,e	Endocyte, Inc		670
	170,372	*	Enzo Biochem, Inc		503
	36,337	*,e	Epizyme, Inc		682
	24,400		EPS Co Ltd		288
	16,843	*,e	Esperion Thereapeutics, Inc		1,560
	19,912		Eurofins Scientific		5,359
	219,067	*,e	Evola Holding S.A.		386
	102,971	*,e	Evotec AG.		413
	238,273	*,e	Exact Sciences Corp		5,247
	516,796	*,e	Exelixis, Inc		1,328
	552,645		Faes Farma S.A. (Sigma)		1,403
	86,030		FDC Ltd		209
	45,787	*,e	FibroGen, Inc		1,437
	106,941	*	Five Prime Therapeutics, Inc		2,444
	12,833	*	Flexion Therapeutics Inc		289
	77,735	*,e	Fluidigm Corp		3,273
	41,261	*,e	Foundation Medicine, Inc		1,985
	44,000		Fuji Pharma Co Ltd		829
	69,000		Fuso Pharmaceutical Industries Ltd		178
	25,596	*	Galapagos NV		607
	48,092	*,e	Galectin Therapeutics, Inc		161
	338,765	*,e	Galena Biopharma, Inc		471
	3,018	*	Genexine Co Ltd		185
	17,416	*,e	Genfit		643
	46,326	*	Genmab AS		3,477
	11,580	*,e	Genocea Biosciences Inc		137
	45,610	*,e	Genomic Health, Inc		1,393

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,245,371	*,e	Genomma Lab Internacional S.A. de C.V.	$	1,180
	89,143		Genus plc		1,810
	536,514	*,e	Geron Corp		2,023
	31,853		Gerresheimer AG.		1,753
	7,040,454	*	Gilead Sciences, Inc		690,880
	8,324,120		GlaxoSmithKline plc		191,621
	100,000	*,e	GNI Group Ltd		228
	15,579		Green Cross Corp		2,468
	55,774		Green Cross Holdings Corp		1,380
	282,477		Grifols S.A.		12,104
	247,139	*,e	GW Pharmaceuticals plc		1,865
	585,536	e	H Lundbeck AS		12,334
	391,430	*,e	Halozyme Therapeutics, Inc		5,590
	9,601	*	Hanmi Holdings Co Ltd		297
	5,691	*	Hanmi Pharm Co Ltd		1,158
	62,196	*,e	Heron Therapeutics, Inc		905
	402,356		Hikma Pharmaceuticals plc		12,664
	172,113		Hisamitsu Pharmaceutical Co, Inc		7,069
	254,225	*	Horizon Pharma plc		6,602
	389,413	*	Hospira, Inc		34,206
	2,545,375	e	Hua Han Bio-Pharmaceutical Holdings Ltd		608
	6,599		Huons Co Ltd		363
	124,892	*,e	Hyperion Therapeutics, Inc		5,733
	230,788	*,e	Idera Pharmaceuticals, Inc		856
	86,752	*,e	IGI Laboratories, Inc		708
	49,898		Il Dong Pharmaceutical Co Ltd		803
	645,237	*	Illumina, Inc		119,782
	11,970		Ilyang Pharmaceutical Co Ltd		366
	15,169	*,e	Immune Design Corp		320
	256,465	*,e	Immunogen, Inc		2,295
	224,109	*,e	Immunomedics, Inc		858
	230,242	*,e	Impax Laboratories, Inc		10,791
	38,689	*	INC Research Holdings, Inc		1,266
	446,974	*,e	Incyte Corp		40,970
	3,924,156	*	Indivior plc		11,060
	316,167	*	Infinity Pharmaceuticals, Inc		4,420
	43,378	*,e	Innate Pharma S.A.		374
	171,566	*,e	Inovio Pharmaceuticals, Inc		1,400
	180,159	*	Insmed, Inc		3,747
	223,326	*,e	Insys Therapeutics, Inc		12,982
	46,034	*,e	Intercept Pharmaceuticals, Inc		12,982
	22,604	*	Intersect ENT, Inc		584
	51,530	*,e	Intra-Cellular Therapies, Inc		1,231
	103,384	*,e	Intrexon Corp		4,691
	16,200	*	Invitae Corp		272
	175,026		Ipsen		8,282
	322,095	*	Ironwood Pharmaceuticals, Inc		5,154
	453,319	*,e	Isis Pharmaceuticals, Inc		28,863
	15,500	*	Japan Tissue Engineering Co Lt		167
	332,690	*	Jazz Pharmaceuticals plc		57,485
	10,300	e	JCR Pharmaceuticals Co Ltd		215
	15,207		Jeil Pharmaceutical Co		381

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	9,711,788		Johnson & Johnson	$	977,006
	4,729	*	Juno Therapeutics, Inc		287
	172,521		Kaken Pharmaceutical Co Ltd		4,988
	42,197	*,e	Karyopharm Therapeutics, Inc		1,292
	272,549	*,e	Keryx Biopharmaceuticals, Inc		3,470
	29,571	*,e	Kindred Biosciences Inc		211
	104,700		Kissei Pharmaceutical Co Ltd		3,269
	57,192	*,e	Kite Pharma, Inc		3,299
	249,159	*	Knight Therapeutics, Inc		1,609
	4,162		Kolon Life Science, Inc		206
	26,390	*	Komipharm International Co Ltd		256
	175,216		Kwang Dong Pharmaceutical Co Ltd		2,262
	169,436		Kyorin Co Ltd		4,051
	404,091		Kyowa Hakko Kogyo Co Ltd		5,267
	52,441	*,e	KYTHERA Biopharmaceuticals, Inc		2,630
	14,796		Kyungdong Pharm Co Ltd		342
	338,134	*	Laboratorios Almirall S.A.		6,215
	13,744	e	Laboratorios Farmaceuticos Rovi S.A		240
	161,240	*	Lannett Co, Inc		10,918
	65,000	e	Lee’s Pharmaceutical Holdings Ltd		94
	682,017	*,e	Lexicon Pharmaceuticals, Inc		644
	11,356	*	LG Life Sciences Ltd		558
	62,089	*,e	Ligand Pharmaceuticals, Inc (Class B)		4,788
	2,564,000	e	Lijun International Pharmaceutical Holding Ltd		1,121
	126,200	e	Livzon Pharmaceutical Group, Inc		809
	335,720		Lonza Group AG.		41,796
	77,000	*	Lotus Pharmaceutical Co Ltd		223
	5,538	*,e	Loxo Oncology, Inc		69
	116,853	*	Luminex Corp		1,870
	149,886		Lupin Ltd		4,815
	84,770	*	MacroGenics, Inc		2,659
	669,953	*	Mallinckrodt plc		84,850
	845,717	*,e	MannKind Corp		4,398
	520,825		Marksans Pharma Ltd		514
	644,076	*	Mayne Pharma Group Ltd		467
	716,829		Meda AB (A Shares)		11,327
	254,372	*	Medicines Co		7,127
	83,918	*	Medigen Biotechnology Corp		372
	193,414	*	Medivation, Inc		24,964
	29,276	*,e	Medivir AB		266
	11,914		Medy-Tox, Inc		3,521
	730,900		Mega Lifesciences PCL		400
	11,162,493		Merck & Co, Inc		641,620
	330,634		Merck KGaA		37,004
	1,984,551	*,e	Merrimack Pharmaceuticals, Inc		23,576
	172,356	*,e	Mesoblast Ltd		475
	101,535	*	Mettler-Toledo International, Inc		33,369
	253,289	*,e	MiMedx Group, Inc		2,634
	21,611	*,e	Mirati Therapeutics, Inc		634
	21,700		Mochida Pharmaceutical Co Ltd		1,425
	131,621	*	Momenta Pharmaceuticals, Inc		2,001
	96,890	*	Morphosys AG.		6,113

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,090,748	*	Mylan NV	$	124,086
	118,863	*,e	Myriad Genetics, Inc		4,208
	31,200	*,e	NanoCarrier Co Ltd		303
	27,320	*,e	NanoString Technologies, Inc		278
	113,494	*,e	NanoViricides, Inc		255
	8,337		Natco Pharma Ltd		281
	12,436	*	Naturalendo Tech Co Ltd		799
	443,390	*,e	Navidea Biopharmceuticals, Inc		705
	384,556	*,e	Nektar Therapeutics		4,230
	75,530	*,e	NeoStem, Inc		192
	187,096	*,e	Neuralstem, Inc		355
	228,316	*	Neurocrine Biosciences, Inc		9,066
	54,412	*,e	NewLink Genetics Corp		2,977
	73,250		Nichi-iko Pharmaceutical Co Ltd		1,687
	46,000		Nippon Shinyaku Co Ltd		1,672
	107,461	*,e	Northwest Biotherapeutics, Inc		792
	5,141,522		Novartis AG.		507,471
	98,034		Novartis AG. (ADR)		9,667
	645,078	*,e	Novavax, Inc		5,335
	3,006,014	e	Novo Nordisk AS		160,472
	57,897	*,e	Ohr Pharmaceutical, Inc		147
	101,420	*,e	Omeros Corp		2,234
	70,642	*,e	OncoMed Pharmaceuticals, Inc		1,821
	224,921	*	Oncothyreon, Inc		367
	132,113		Oneness Biotech Co Ltd		221
	134,530		Ono Pharmaceutical Co Ltd		15,181
	91,387	*,e	Ophthotech Corp		4,252
	552,589	*,e	Opko Health, Inc		7,830
	408,858	*,e	Orexigen Therapeutics, Inc		3,201
	15,760	*,e	Orexo AB		225
	171,646	*,e	Organovo Holdings, Inc		608
	209,553	e	Orion Oyj (Class B)		5,907
	46,180	*,e	Osiris Therapeutics, Inc		812
	28,426	*,e	Otonomy, Inc		1,005
	1,105,320		Otsuka Holdings KK		34,578
	134,200		Ouro Fino Saude Animal Participacoes S.A.		1,206
	58,913	*,e	OvaScience, Inc		2,046
	153,472	*	Pacific Biosciences of California, Inc		896
	152,881	*,e	Pacira Pharmaceuticals, Inc		13,583
	102,717	*,e	Pain Therapeutics, Inc		194
	1,782,786	*,e	Paion AG.		4,532
	225,215	*	Parexel International Corp		15,538
	431,071	e	PDL BioPharma, Inc		3,033
	5,700	*,e	PeptiDream, Inc		422
	492,882	*,e	Peregrine Pharmaceuticals, Inc		665
	368,081	*	PerkinElmer, Inc		18,824
	87,706	*,e	Pernix Therapeutics Holdings, Inc		938
	570,194		Perrigo Co plc		94,396
	15,442		Pfizer Ltd		550
	24,216,866		Pfizer, Inc		842,505
	182,444	*	Pharmacyclics, Inc		46,697

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	42,861	*	PharmaEngine Inc	$	363
	63,492	*	Pharmstandard (GDR)		269
	38,911		Phibro Animal Health Corp		1,378
	109,952		Piramal Healthcare Ltd		1,530
	174,936	*	Portola Pharmaceuticals, Inc		6,641
	62,350		Pozen, Inc		481
	119,685	*,e	PRA Health Sciences, Inc		3,452
	177,862	*	Prestige Brands Holdings, Inc		7,628
	223,665	*,e	Progenics Pharmaceuticals, Inc		1,338
	519,106	*,e	Prometic Life Sciences, Inc		992
	83,519	*,e	Prothena Corp plc		3,185
	22,728,582		PT Kalbe Farma Tbk		3,243
	80,374	*,e	PTC Therapeutics, Inc		4,891
	87,839	*,e	Puma Biotechnology, Inc		20,740
	152,525	*	Qiagen NV		3,828
	830,933	*,e	Qiagen NV (NASDAQ)		20,940
	173,072	*	Quintiles Transnational Holdings, Inc		11,591
	23,966	*,e	Radius Health, Inc		986
	158,392	*	Ranbaxy Laboratories Ltd		2,060
	172,754	*,e	Raptor Pharmaceutical Corp		1,878
	90,037	*	Receptos, Inc		14,846
	23,361	*	Recipharm AB		498
	102,209		Recordati S.p.A.		1,909
	56,996	*,e	Regado Biosciences, Inc		70
	212,715	*	Regeneron Pharmaceuticals, Inc		96,037
	42,293	*,e	Regulus Therapeutics, Inc		716
	54,572	*	Relypsa, Inc		1,968
	85,097	*	Repligen Corp		2,584
	31,100	*,e	ReproCELL, Inc		180
	111,195	*,e	Repros Therapeutics, Inc		955
	84,876	*,e	Retrophin, Inc		2,034
	26,333	*,e	Revance Therapeutics, Inc		546
	118,744	e	Richter Gedeon Rt		1,629
	297,257	*	Rigel Pharmaceuticals, Inc		1,061
	1,216,331		Roche Holding AG.		334,238
	89,000		Rohto Pharmaceutical Co Ltd		1,265
	16,261	*,e	Sage Therapeutics, Inc		817
	65,054	*	Sagent Pharmaceuticals		1,512
	262,648	*,e	Salix Pharmaceuticals Ltd		45,388
	40,981		Samjin Pharmaceutical Co Ltd		924
	186,928	*	Sangamo Biosciences, Inc		2,931
	2,388,060		Sanofi-Aventis		235,842
	509,300		Santen Pharmaceutical Co Ltd		7,429
	3,595	*	Santhera Pharmaceutical Holding AG.		345
	113,133	*,e	Sarepta Therapeutics, Inc		1,502
	34,900		Sawai Pharmaceutical Co Ltd		2,067
	152,263	*	Sciclone Pharmaceuticals, Inc		1,349
	218,290		Scinopharm Taiwan Ltd		345
	222,799	*,e	Seattle Genetics, Inc		7,876
	46,107	*	Seegene, Inc		1,553
	509,600		Seikagaku Corp		9,689
	331,537	*,e	Sequenom, Inc		1,310

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	410,000	e	Shandong Luoxin Pharmacy Stock Co Ltd	$	779
	153,700	m	Shanghai Dingli Technology Dev		158
	434,567	m	Shanghai Fosun Pharmaceutical Group Co Ltd		1,449
	199,000	*,e	Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		191
	13,500	*,e	Shin Nippon Biomedical Laboratories Ltd		92
	548,495		Shionogi & Co Ltd		18,260
	1,083,597		Shire Ltd		86,388
	3,576		Siegfried Holding AG.		547
	18,877,032	m	Sihuan Pharmaceutical Holdings		10,738
	3,099,932		Sino Biopharmaceutical		3,136
	123,280		Sinphar Pharmaceutical Co Ltd		151
	225,771		Sirtex Medical Ltd		3,562
	976,029	*,m	Skyline Venture Fund III Ltd		51
	13,900	*,e	Sosei Group		349
	12,961	*	Spark Therapeutics, Inc		1,004
	218,030	*,e	Spectrum Pharmaceuticals, Inc		1,323
	210,040		Stada Arzneimittel AG.		6,989
	7,325		Stallergenes		401
	553,100		Standard Chemical & Pharma		678
	46,340	*,e	Stemline Therapeutics, Inc		671
	9,068		Strides Arcolab Ltd		171
	52,530	*,e	Sucampo Pharmaceuticals, Inc (Class A)		817
	48,282	*	Sun Pharma Advanced Research Company Ltd		381
	1,682,716		Sun Pharmaceutical Industries Ltd		27,531
	151,718	*,e	Sunesis Pharmaceuticals, Inc		372
	79,816	*	Supernus Pharmaceuticals, Inc		965
	62,862	*,e	Synageva BioPharma Corp		6,131
	257,871	*,e	Synergy Pharmaceuticals, Inc		1,191
	175,905	*,e	Synta Pharmaceuticals Corp		341
	14,688	*,e	T2 Biosystems, Inc		228
	167,000	*	Taigen Biopharmaceuticals Holdings Ltd		180
	73,431		Taisho Pharmaceutical Holdings Co Ltd		5,456
	32,339	*	Taiwan Liposome Co Ltd		216
	47,400	e	Takara Bio, Inc		542
	767,764		Takeda Pharmaceutical Co Ltd		38,325
	359,539		Tanabe Seiyaku Co Ltd		6,168
	10,673		Tecan Group AG.		1,399
	97,757	*,e	TESARO, Inc		5,611
	88,366	*	Tetraphase Pharmaceuticals, Inc		3,238
	980,611		Teva Pharmaceutical Industries Ltd		61,285
	84,859		Teva Pharmaceutical Industries Ltd (ADR)		5,287
	73,504	*,e	TG Therapeutics, Inc		1,138
	318,958	*,e	TherapeuticsMD, Inc		1,930
	66,820	*,e	Theravance Biopharma, Inc		1,159
	230,070	e	Theravance, Inc		3,617
	1,557,708		Thermo Electron Corp		209,262
	167,693	*,e	Threshold Pharmaceuticals, Inc		681
	32,614	*,e	ThromboGenics NV		179
	1,088	*,e	Tokai Pharmaceuticals, Inc		12
	1,479,000	e	Tong Ren Tang Technologies Co Ltd		2,175
	11,900		Torii Pharmaceutical Co Ltd		317
	72,794		Torrent Pharmaceuticals Ltd		1,346

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	39,400		Towa Pharmaceutical Co Ltd	$	2,252
	18,390	*,e	Transgene S.A.		109
	72,692		Tsumura & Co		1,795
	187,917		TTY Biopharm Co Ltd		385
	31,000	*	TWi Pharmaceuticals, Inc		204
	55,907		UCB S.A.		4,039
	28,955	*,e	Ultragenyx Pharmaceutical, Inc		1,798
	6,400	*,e	UMN Pharma, Inc		160
	62,237		Unichem Laboratories Ltd		202
	2,111,500	*	United Laboratories Ltd		989
	148,002	*	United Therapeutics Corp		25,521
	536,874	*	Valeant Pharmaceuticals International, Inc		106,061
	47,948	*,e	Valneva SE		199
	104,551	*,e	Vanda Pharmaceuticals, Inc		972
	530,233	*	Vectura Group plc		1,146
	87,453	*,e	Verastem, Inc		889
	21,753	*,e	Versartis, Inc		400
	693,836	*	Vertex Pharmaceuticals, Inc		81,852
	5,893		Virbac S.A.		1,395
	11,162	*	ViroMed Co Ltd		727
	6,646	*,e	Vitae Pharmaceuticals, Inc		78
	14,910	*,e	Vital Therapies, Inc		373
	262,099	*,e	Vivus, Inc		645
	30,674	*,e	VWR Corp		797
	248,711	*	Waters Corp		30,920
	11,415		Whanin Pharmaceutical Co Ltd		231
	922,000	*,e	Winteam Pharmaceutical Group Ltd		622
	140,338		Wockhardt Ltd		4,177
	44,612	*	Xencor Inc		683
	220,345	*	Xenoport, Inc		1,569
	510,939	*,e	XOMA Corp		1,860
	7,932		Yuhan Corp		1,337
	85,819	*	Yungjin Pharmaceutical Co Ltd		132
	740,000		YungShin Global Holding Corp		1,295
	21,557	*,e	Zafgen, Inc		854
	10,362	*	Zealand Pharma AS		155
	170,249	*,e	Zeltia S.A.		739
	33,100		Zeria Pharmaceutical Co Ltd		553
	242,813	*,e	ZIOPHARM Oncology, Inc		2,615
	2,043,511		Zoetis Inc		94,594
	342,588	*,e	Zogenix, Inc		469
	19,102	*,e	ZS Pharma, Inc		804
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		11,335,101
REAL ESTATE - 3.8%
	9,900,000		8990 Holdings, Inc		1,927
	853,205		Abacus Property Group		1,890
	242,198		Acadia Realty Trust		8,448
	488		Activia Properties Inc		4,264
	266,506	e	Acucap Properties Ltd		1,250
	2,208		Advance Residence Investment Corp		5,296
	35,576		Aeon Mall Co Ltd		705

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	9,684	e	AEON REIT Investment Corp	$	13,883
	122,116	*	Africa Israel Investments Ltd		108
	10,966		Africa Israel Properties Ltd		152
	94,623		AG Mortgage Investment Trust		1,783
	3,883,080	e	Agile Property Holdings Ltd		2,339
	52,334		Agree Realty Corp		1,725
	1,511,284		AIMS AMP Capital Industrial REIT		1,641
	35,012	*	Airport City Ltd		367
	8,900		Airport Facilities Co Ltd		50
	35,103		Akmerkez Gayrimenkul Yatirim Ortakligi AS		236
	3,465,784		Aldar Properties PJSC		2,229
	221,573		Alexander & Baldwin, Inc		9,568
	8,833		Alexander’s, Inc		4,033
	108,937		Alexandria Real Estate Equities, Inc		10,680
	70,600		Aliansce Shopping Centers S.A.		374
	1,306,607		Allan Gray Property Trust		1,110
	11,437,843		Allco Commercial Real Estate Investment Trust		12,487
	37,784		Allied Properties Real Estate Investment Trust		1,202
	13,635		Allreal Holding AG.		1,992
	184,274		Alony Hetz Properties & Investments Ltd		1,420
	4,377	*	AL-ROV Israel Ltd		131
	4,383	*	Alrov Properties and Lodgings Ltd		90
	77,728		Alstria Office REIT-AG.		1,092
	4,130	*,e	Altisource Asset Management Corp		765
	36,780	*,e	Altisource Portfolio Solutions S.A.		473
	195,580		Altisource Residential Corp		4,080
	80,866	e	Altus Group Ltd		1,249
	2,491,300		Amata Corp PCL (Foreign)		1,238
	1,125,167		Amer Group Holding		155
	118,028		American Assets Trust,Inc		5,108
	145,742		American Campus Communities, Inc		6,248
	769,180		American Capital Agency Corp		16,407
	178,576		American Capital Mortgage, Inc		3,207
	361,481		American Homes 4 Rent		5,982
	1,261,650	*	American Realty Capital Properties, Inc		12,427
	112,268	*,e	American Residential Properties, Inc		2,020
	710,241		American Tower Corp		66,869
	169,644		Amot Investments Ltd		560
	9,406,000		Ananda Development PCL		1,086
	1,469,851		Anant Raj Industries Ltd		935
	6,884		ANF Immobilier		182
	2,047,415		Annaly Capital Management, Inc		21,293
	435,349		Anworth Mortgage Asset Corp		2,216
	6,222,260	*	AP Thailand PCL (Foreign)		1,377
	553,966		Apartment Investment & Management Co (Class A)		21,804
	184,844	e	Apollo Commercial Real Estate Finance, Inc		3,176
	97,656	e	Ares Commercial Real Estate Corp		1,079
	1,676,677		Argosy Property Ltd		1,428
	237,183		Armada Hoffler Properties, Inc		2,528
	1,248,808	*	ARMOUR Residential REIT, Inc		3,959
	812,584		Arrowhead Properties Ltd		674
	372,508		Arrowhead Properties Ltd (Class B)		310

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	170,195		Artis Real Estate Investment Trust	$	2,013
	1,170,500		Ascendas Hospitality Trust		580
	1,603,100	e	Ascendas India Trust		1,051
	590,487		Ascendas REIT		1,114
	1,109,302		Ascott Residence Trust		1,005
	86,975		Ashford Hospitality Prime, Inc		1,459
	264,352		Ashford Hospitality Trust, Inc		2,543
	199,325		Associated Estates Realty Corp		4,919
	819,755	*,e	Attacq Ltd		1,757
	41,300	*	AV Homes, Inc		659
	388,401		AvalonBay Communities, Inc		67,679
	1,005,307	e	Aveo Group		2,031
	121,880		Aviv REIT, Inc		4,449
	59,813	*	Axia Real Estate SOCIMI S.A.		787
	329,000		Axis Real Estate Investment Trust		314
	8,126,130		Ayala Land, Inc		6,985
	127,129	e	Babcock & Brown Japan Property Trust		484
	172,469		Barwa Real Estate Co		2,130
	645		Bayside Land Corp		199
	48,364		Befimmo SCA Sicafi		3,282
	3,256,000		Beijing Capital Land Ltd		2,012
	684,000	m	Beijing North Star Co		225
	2,186,000	*,e	Beijing Properties Holdings Ltd		188
	4,421,950		Belle Corp		425
	1,470,233	e	Beni Stabili S.p.A.		1,153
	408,005		Big Yellow Group plc		3,919
	103,774		BioMed Realty Trust, Inc		2,352
	269,120		Blackstone Mortgage Trust, Inc		7,635
	1,054	*,e	BLife Investment Corp		2,300
	92,370		Boardwalk Real Estate Investment Trust		4,299
	593,113		Boston Properties, Inc		83,321
	446,935		BR Malls Participacoes S.A.		2,372
	366,108		BR Properties S.A.		1,499
	104,654	e	Brandywine Realty Trust		1,672
	176,200		Brasil Brokers Participacoes S.A.		151
	2,044,010		British Land Co plc		25,192
	2,046,575		Brixmor Property Group, Inc		54,337
	858,371		Brookfield Asset Management, Inc		45,909
	13,755		Brookfield Canada Office Properties		312
	7,767	*	Brookfield Multiplex Group		531
	1,740		Brookfield Property Partners LP (Toronto)		42
	1,441,957		Bunnings Warehouse Property Trust		3,289
	51,544	e	BUWOG AG.		1,056
	37,493,188		C C Land Holdings Ltd		6,957
	214,471	e	CA Immobilien Anlagen AG.		4,015
	1,614,000		Cache Logistics Trust		1,380
	198,842		Calloway Real Estate Investment Trust		4,569
	1,171,209	e	Cambridge Industrial Trust		606
	130,815		Camden Property Trust		10,221
	706,170	e	Campus Crest Communities, Inc		5,056
	210,167		Canadian Apartment Properties REIT		4,845
	39,408		Canadian Real Estate Investment Trust		1,447

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,462,200		CapitaCommercial Trust	$	1,882
	897,677		Capital & Counties Properties		5,328
	3,678,074		Capital Property Fund		4,245
	6,256,180		CapitaLand Ltd		16,307
	1,622,881		CapitaMall Trust		2,598
	1,155,100		CapitaMalls Malaysia Trust		456
	526,832		CapitaRetail China Trust		618
	345,636	e	Capstead Mortgage Corp		4,068
	91,153		CareTrust REIT, Inc		1,236
	7,840,000	*,e	Carnival Group International Holdings Ltd		1,375
	280,538		Castellum AB		4,240
	59,364		CatchMark Timber Trust Inc		696
	1,210,000		Cathay Real Estate Development Co Ltd		701
	546,123		CBL & Associates Properties, Inc		10,813
	1,632,126	*	CBRE Group, Inc		63,180
	683,700		CDL Hospitality Trusts		874
	15,000,000		Cebu Holdings, Inc		1,728
	322,643		Cedar Shopping Centers, Inc		2,417
	52,855		Cedar Woods Properties Ltd		223
	1,485,000		Central China Real Estate Ltd		375
	1,425,200		Central Pattana PCL (Foreign)		1,870
	12,066,198		Century Properties Group, Inc		251
	795,203		Chambers Street Properties		6,266
	3,057,636		Champion Real Estate Investment Trust		1,455
	820,337		Charter Hall Group		3,176
	260,661		Chartwell Retirement Residences		2,544
	119,423		Chatham Lodging Trust		3,512
	189,418		Chesapeake Lodging Trust		6,408
	4,429,688		Cheuk Nang Holdings Ltd		3,988
	2,350,238		Chimera Investment Corp		7,380
	2,589,500		China Aoyuan Property Group Ltd		461
	56,536	*	China New City Commercial Development Ltd		27
	13,712,521	*,e	China New Town Development Co Ltd		610
	1,756,000	e	China Oceanwide Holdings Ltd		223
	810,000	e	China Overseas Grand Oceans Group Ltd		378
	7,976,994		China Overseas Land & Investment Ltd		25,761
	9,245,850		China Resources Land Ltd		26,131
	1,149,400	*,e	China SCE Property Holdings Ltd		208
	1,978,000	e	China South City Holdings Ltd		648
	9,685,047	*,e	China Vanke Co Ltd		22,953
	335,500	e	Chinese Estates Holdings Ltd		1,047
	152,647		Choice Properties REIT		1,363
	127,084		Chong Hong Construction Co		257
	5,138,000		CIFI Holdings Group Co Ltd		1,161
	154,428		City Developments Ltd		1,132
	611,871		Citycon Oyj		1,986
	1,672,107		CK Hutchison Holdings Ltd		34,162
	19,511		Cofinimmo		2,288
	363,429	e	Colony Financial, Inc		9,420
	222,000	*,e	Colour Life Services Group		231
	428,635		Columbia Property Trust, Inc		11,582
	433	*,e	Comforia Residential REIT, Inc		944

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	78,166		Cominar Real Estate Investment Trust	$	1,184
	727,900	e	Concentradora Fibra Danhos S.A. de C.V.		1,741
	419,500		Concentradora Fibra Hotelera Mexicana S.A. de C.V.		563
	20,017	e	Consolidated-Tomoka Land Co		1,194
	60,987	e	Conwert Immobilien Invest AG.		764
	125,447	e	CorEnergy Infrastructure Trust, Inc		869
	58,634		Coresite Realty		2,854
	650,336	e	Corp Inmobiliaria Vesta SAB de C.V.		1,209
	283,123		Corporate Office Properties Trust		8,318
	5,956,994		Country Garden Holdings Co Ltd		2,403
	116,892		Countrywide plc		889
	759,477		Cousins Properties, Inc		8,050
	2,407		Crescendo Investment Corp		1,921
	40,200		Crombie Real Estate Investment Trust		428
	1,433,389		Cromwell Group		1,237
	1,419,622		Crown Castle International Corp		117,176
	6,858,943		CSI Properties Ltd		243
	43,809		CT Real Estate Investment Trust		446
	775,715		CubeSmart		18,734
	104,186		CyrusOne, Inc		3,242
	553,291		CYS Investments, Inc		4,930
	453	*,e	DA Office Investment Corp		2,449
	102,100		Daibiru Corp		1,054
	330,000		Daikyo, Inc		497
	2,595,900		Daiman Development BHD		1,807
	49,346	e	Daito Trust Construction Co Ltd		5,510
	1,143,289	e	Daiwa House Industry Co Ltd		22,534
	345	*,e	Daiwa House REIT Investment Corp		1,512
	952,600	*,e,g	Dalian Wanda Commercial Properties Co Ltd		5,905
	279,103		DCT Industrial Trust, Inc		9,674
	324,713		DDR Corp		6,046
	156,423		Derwent London plc		7,927
	305,003		Deutsche Annington Immobilien SE		10,278
	138,126		Deutsche Euroshop AG.		6,860
	287,790		Deutsche Wohnen AG.		7,361
	1,271,545		Dexus Property Group		7,320
	1,294,205	*	Deyaar Development PJSC		218
	739,250		DiamondRock Hospitality Co		10,446
	43,740		DIC Asset AG.		437
	377,282		Digital Realty Trust, Inc		24,886
	136,605		Dios Fastigheter AB		1,084
	9,693,716		DLF Ltd		24,437
	39,688	*	Dogus Gayrimenkul Yatirim Ortakligi AS		63
	73,246		Douglas Emmett, Inc		2,183
	52,977		Dream Global Real Estate Investment Trust		412
	116,096		Dream Industrial Real Estate Investment Trust		826
	53,822		Dream Office Real Estate Investment Trust		1,120
	57,244	*	Dream Unlimited Corp		417
	635,726		Duke Realty Corp		13,840
	207,828		DuPont Fabros Technology, Inc		6,792
	178,095	e	Dynex Capital, Inc		1,508
	4,970	*	Easterly Government Properties, Inc		80

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	549,100		Eastern & Oriental BHD	$	296
	102,510		EastGroup Properties, Inc		6,165
	175,703		Education Realty Trust, Inc		6,216
	2,576,043	*	Emaar Malls Group PJSC		2,048
	7,386,267		Emaar Properties PJSC		13,217
	1,228,584		Emira Property Fund		1,822
	3,786,868		Emlak Konut Gayrimenkul Yatiri		4,286
	1,233,333		Emperor International Holdings		275
	249,026		Empire State Realty Trust, Inc		4,684
	192,331		Entertainment Properties Trust		11,546
	220,737	*	Equity Commonwealth		5,861
	343,321		Equity Lifestyle Properties, Inc		18,865
	216,186		Equity One, Inc		5,770
	938,024		Equity Residential		73,035
	1,074,710	*	Eshraq Properties Co PJSC		175
	279,379		Essex Property Trust, Inc		64,229
	190,601		Eurobank Properties Real Estate Investment Co		1,555
	45,616		Eurocommercial Properties NV		2,091
	12,762,261	e	Evergrande Real Estate Group		6,433
	215,819		Excel Trust, Inc		3,026
	721,668		Extra Space Storage, Inc		48,763
	160,899	e	Fabege AB		2,306
	4,931,000	e	Fantasia Holdings Group Co Ltd		591
	1,003,680		Far East Consortium		381
	1,675,300	e	Far East Hospitality Trust		977
	215,437		Farglory Land Development Co Ltd		248
	106,976	*	Fastighets AB Balder		1,808
	152,892		Federal Realty Investment Trust		22,507
	2,949,456		Federation Centres		6,808
	790,137		FelCor Lodging Trust, Inc		9,079
	457,551		Fibra Shop Portafolios Inmobiliarios SAPI de C.V.		523
	5,170,991		Fibra Uno Administracion S.A. de C.V.		13,699
	12,000,000		Filinvest Development Corp		1,221
	54,537,000		Filinvest Land, Inc		2,196
	94,808		First Capital Realty, Inc		1,477
	379,899		First Industrial Realty Trust, Inc		8,141
	231,466		First Potomac Realty Trust		2,752
	1,012,969		First Real Estate Investment Trust		1,033
	36,431	e	FirstService Corp		2,358
	6,583		Fonciere Des Regions		652
	410	*,e	Fonciere Des Regions (New)		40
	476,168	*	Forest City Enterprises, Inc (Class A)		12,152
	115,614	*,e	Forestar Real Estate Group, Inc		1,823
	544,363		Fortress Income Fund Ltd		702
	340,436		Foxtons Group plc		1,034
	366,617		Franklin Street Properties Corp		4,700
	8,766,701	e	Franshion Properties China Ltd		2,659
	537,400		Frasers Centrepoint Trust		790
	311,000	*	Frasers Hospitality Trust		203
	929	*	Frontier Real Estate Investment Corp		4,417
	24,351	*,e	FRP Holdings, Inc		886
	619	*	Fukuoka REIT Corp		1,154

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	4,698,000		Future Land Development Holdin	$	619
	194,000		Gallop No  REIT		117
	1,048,339		Gaming and Leisure Properties, Inc		38,652
	228,152		Gazit Globe Ltd		2,818
	20,689		Gazit, Inc		536
	543,009		GDI Property Group		383
	6,745		Gecina S.A.		912
	2,582,000	e	Gemdale Properties and Investm		143
	2,594,047		General Growth Properties, Inc		76,654
	248,787		Geo Group, Inc		10,882
	118,835		Getty Realty Corp		2,163
	56,948		Gladstone Commercial Corp		1,060
	5,975,191	e	Global Logistic Properties		11,533
	468		Global One Real Estate Investment Corp		1,615
	758,256	*	Globe Trade Centre S.A.		1,127
	280,100		Glomac BHD		75
	3,788,895	*,e	Glorious Property Holdings Ltd		518
	2,884	*	GLP J-Reit		2,986
	50,826		Godrej Properties Ltd		204
	17,980		Goldcrest Co Ltd		313
	745,300	*	Golden Land Property Development PCL		151
	1,722,000	*,e	Goldin Properties Holdings Ltd		3,056
	1,520,045		Goodman Property Trust		1,356
	234,052	e	Government Properties Income Trust		5,348
	2,193,785		GPT Group (ASE)		7,620
	423,050		Grainger plc		1,292
	146,903	e	Gramercy Property Trust, Inc		4,124
	79,918	*,e	Grand City Properties S.A.		1,483
	25,400		Granite Real Estate Investment Trust		892
	259,016		Great Eagle Holdings Ltd		912
	1,085,096		Great Portland Estates plc		13,037
	8,287,264		Green REIT plc		14,578
	327,000	e	Greenland Hong Kong Holdings Ltd		194
	35,900	e	Greentown China Holdings Ltd		32
	5,562,605		Growthpoint Properties Ltd		13,134
	396,000	*	Guangdong Land Holdings Ltd		119
	1,210,908	e	Guangzhou R&F Properties Co Ltd		1,244
	446,615		H&R Real Estate Investment Trust		8,227
	3,910		Haesung Industrial Co Ltd		106
	111,171		Halk Gayrimenkul Yatrm Ortakli		52
	43,882	e	Hamborner AG.		483
	2,482,891		Hammerson plc		24,452
	1,534,495		Hang Lung Group Ltd		7,008
	15,928,071		Hang Lung Properties Ltd		44,750
	510		Hankyu Reit, Inc		644
	85,150		Hannon Armstrong Sustainable Infrastructure Capital, Inc		1,557
	1,691,128	e	Hansteen Holdings plc		3,068
	335,987		Hatteras Financial Corp		6,102
	864,445		HCP, Inc		37,353
	694,328		Health Care REIT, Inc		53,713
	329,836		Healthcare Realty Trust, Inc		9,163
	218,245		Healthcare Trust of America, Inc		6,080

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	33,500		Heiwa Real Estate Co Ltd	$	470
	224,133		Helical Bar plc		1,311
	151,547		Heliopolis Housing		1,302
	21,313,600		Hemaraj Land and Development PCL (Foreign)		2,934
	63,398	*	Hemfosa Fastigheter AB		1,446
	3,721,906	e	Henderson Land Development Co Ltd		26,147
	695,112		Hersha Hospitality Trust		4,497
	29,918,097		Hibernia REIT plc		37,638
	563,250		Highwealth Construction Corp		1,328
	304,401		Highwoods Properties, Inc		13,935
	145,481	*	Hispania Activos Inmobiliarios SAU		1,917
	159,300	e	Ho Bee Investment Ltd		250
	208,282		Home Properties, Inc		14,432
	228,000	e	Hong Fok Corp Ltd		147
	260,994		Hongkong Land Holdings Ltd		1,970
	844,000	*	Hopson Development Holdings Ltd		609
	501	*	Hoshino Resorts REIT, Inc		6,149
	451,392		Hospitality Properties Trust		14,891
	2,512,563		Host Marriott Corp		50,704
	218,924	*	Housing Development & Infrastruture Ltd		355
	138,437	*	Howard Hughes Corp		21,460
	231,235		Huaku Development Co Ltd		472
	76,000		Huang Hsiang Construction Co		107
	266,584		Hudson Pacific Properties		8,848
	182,195	e	Hufvudstaden AB (Series A)		2,498
	10,982		Hulic Reit, Inc		16,877
	495,362		Hung Poo Real Estate Development Corp		420
	442,000		Hung Sheng Construction Co Ltd		266
	580,109	e	Hyprop Investments Ltd		5,644
	896,317		Hysan Development Co Ltd		3,929
	13,943		Icade		1,260
	973		Ichigo Real Estate Investment Corp		786
	97,800		IGB Corp BHD		74
	2,392,300		IGB Real Estate Investment Trust		858
	61,900		Iguatemi Empresa de Shopping Centers S.A.		547
	1,180,600	m	IJM Land BHD		1,116
	364,783		Immobiliare Grande Distribuzione		364
	1,355,948	*,e,m	Immoeast AG.		0	^
	658,721	*,e,m	Immofinanz ANSPR NACHB AG.		0	^
	256,258	*,e	Immofinanz Immobilien Anlagen AG.		755
	775,598		Indiabulls Real Estate Ltd		809
	383		Industrial & Infrastructure Fund Investment Corp		1,783
	1,665,407		ING Office Fund		4,935
	345,072		Inland Real Estate Corp		3,689
	2,313,506	*	Inmobiliaria Colonial S.A.		1,562
	108,641		InnVest Real Estate Investment Trust		495
	30,179		InterRent Real Estate Investment Trust		155
	2,358		Intershop Holdings		971
	13,962		Intervest Offices		405
	431,098		Invesco Mortgage Capital, Inc		6,695
	406	*	Invesco Office J-Reit, Inc		398
	471,724		Investors Real Estate Trust		3,538

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,670	*	Invincible Investment Corp	$	3,415
	1,182,043		IOI Properties Group Sdn BHD		695
	385,112		Iron Mountain, Inc		14,049
	656,447		Is Gayrimenkul Yatirim Ortakligi AS		410
	291,337	*	iStar Financial, Inc		3,787
	1,158	*	Japan Excellent, Inc		1,511
	10,726		Japan Hotel REIT Investment Corp		7,630
	859	*	Japan Logistics Fund Inc		1,785
	523		Japan Prime Realty Investment Corp		1,801
	382		Japan Real Estate Investment Corp		1,797
	3,407	e	Japan Rental Housing Investments, Inc		2,486
	751		Japan Retail Fund Investment Corp		1,492
	11,005		Jerusalem Economy Ltd		39
	8,198	*	Jerusalem Oil Exploration		273
	99,100		JHSF Participacoes S.A.		62
	1,728,650	m	Jiangsu Future Land Co Ltd		876
	113,093		Jones Lang LaSalle, Inc		19,271
	22,700		Jowa Holdings Co Ltd		875
	1,182,117		K Wah International Holdings Ltd		584
	671,480		KEE TAI Properties Co Ltd		423
	1,088		Kenedix Realty Investment Corp		5,970
	1,041	*	Kenedix Residential Investment Corp		3,231
	2,246	*	Kenedix Retail REIT Corp		5,212
	388,400	e	Kenedix, Inc		1,581
	249,432	e	Kennedy-Wilson Holdings, Inc		6,520
	4,000	e	Keppel Land Ltd		13
	3,298,140		Kerry Properties Ltd		11,449
	50,611	e	Killam Properties, Inc		442
	276,103		Kilroy Realty Corp		21,031
	312,035		Kimco Realty Corp		8,378
	1,541,000		Kindom Construction Co		1,399
	161,280	*	King’s Town Construction Co Ltd		136
	123,650		Kite Realty Group Trust		3,483
	1,273,745	e	Kiwi Property Group Ltd		1,233
	79,600		KLCC Property Holdings BHD		150
	497,105	e	Klepierre		24,411
	48,687		Klovern AB (A Shares)		56
	1,551,677	*	Klovern AB (B Shares)		1,802
	282,373		Korea Real Estate Investment Trust Co		942
	3,043,130	e	Kowloon Development Co Ltd		3,531
	2,361,038	e	K-REIT Asia		2,065
	309,729		KSL Holdings BHD		181
	173,356		Kungsleden AB		1,341
	390,185		Kuoyang Construction Co Ltd		173
	4,799,231		KWG Property Holding Ltd		3,405
	116,707,535		Lai Fung Holdings Ltd		2,168
	84,063,250		Lai Sun Development Co Ltd		1,865
	48,328		Lamar Advertising Co		2,864
	39,121	*	Lamda Development S.A.		153
	937,068		Land Securities Group plc		17,397
	4,175,500		Langham Hospitality Investments Ltd		1,967
	42,406	*	Lar Espana Real Estate Socimi S.A.		489

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	372,130		LaSalle Hotel Properties	$	14,461
	455,800		LBS Bina Group BHD		186
	418,693	*	LC Corp S.A.		219
	82,549		LEG Immobilien AG.		6,548
	553,144		Lend Lease Corp Ltd		6,987
	2,776,611	*	Leopalace21 Corp		14,535
	718,370	e	Lexington Corporate Properties Trust		7,062
	1,763,239	e	Liberty International plc		9,090
	83,225	e	Liberty Property Trust		2,971
	1,252,281		Link REIT		7,726
	1,686,700		Lippo-Mapletree Indonesia Retail Trust		424
	384,000		Liu Chong Hing Investment		481
	1,548,000	e	Logan Property Holdings Co Ltd		498
	630,489		London & Stamford Property plc		1,513
	887,000		Long Bon International Co Ltd		649
	1,758,120		Longfor Properties Co Ltd		2,491
	639,000		LPN Development PCL		330
	132,800		LPS Brasil Consultoria de Imoveis S.A.		214
	220,837		LSR Group (GDR)		501
	142,899		LTC Properties, Inc		6,573
	134,196		Macerich Co		11,317
	614,011		Mack-Cali Realty Corp		11,838
	1,075,118		Macquarie CountryWide Trust		3,504
	2,845,101		Macquarie Goodman Group		13,700
	3,281,890	e	Macquarie MEAG Prime REIT		1,996
	4,660,000	*,e	Madex International Holdings Ltd		131
	1,577,441		Mah Sing Group BHD		877
	6,100	*,e	Mainstreet Equity Corp		181
	35,779	*,e,m	Mapeley Ltd		1
	3,031,987		Mapletree Commercial Trust		3,535
	4,828,600	e	Mapletree Greater China Commercial Trust		3,659
	3,158,261		Mapletree Industrial Trust		3,633
	3,919,325		Mapletree Logistics Trust		3,556
	126,320	*	Marcus & Millichap, Inc		4,734
	566,550		Matrix Concepts Holdings BHD		428
	29,383		Mazaya Qatar Real Estate Development Q.S.C		147
	1,311,400		MBK PCL		564
	688,628		Medical Properties Trust, Inc		10,150
	44,785	*	Medinet Nasr Housing		203
	65,892,600		Megaworld Corp		7,992
	37,764		Melisron Ltd		1,434
	53,411		Mercialys S.A		1,357
	131,743	*	Merlin Properties Socimi S.A.		1,796
	2,283,500		Mexico Real Estate Management S.A. de C.V.		3,582
	1,395,867		MFA Mortgage Investments, Inc		10,972
	1,559	*	MID Reit, Inc		3,779
	184,662		Mid-America Apartment Communities, Inc		14,269
	1,618,929	*,e	Midland Holdings Ltd		711
	162,952		Milestone Apartments Real Estate Investment Trust		1,800
	5,095,000	*	Mingfa Group		1,674
	1,804,000		Minmetals Land Ltd		212
	2,014,188		Mirvac Group		3,075

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,494,880		Mitsubishi Estate Co Ltd	$	34,669
	1,595,241		Mitsui Fudosan Co Ltd		46,849
	149,400		MKH BHD		111
	7,698		Mobimo Holding AG.		1,816
	185,953		Monmouth Real Estate Investment Corp (Class A)		2,066
	26,700		Morguard North American Resid		223
	59,346		Morguard Real Estate Investment Trust		807
	1,934	*	Mori Hills REIT Investment Corp		2,728
	1,093		Mori Trust Sogo Reit, Inc		2,263
	76,934		Multiplan Empreendimentos Imobiliarios S.A.		1,351
	140,300		Naim Holdings BHD		100
	118,665		National Health Investors, Inc		8,426
	323,968	e	National Retail Properties, Inc		13,273
	198,282,600	*	Natural Park PCL		366
	1,120,000	*	Neo-China Land Group Holdings Ltd		205
	277,000		New Century Real Estate Investment Trust		111
	471,047		New Residential Investment Corp		7,080
	3,016,614		New World China Land Ltd		1,929
	15,323,479		New World Development Co Ltd		17,765
	346,357	e	New York Mortgage Trust, Inc		2,688
	248,780		NewRiver Retail Ltd		1,137
	63,603		Nexity		2,660
	168,905		Nieuwe Steen Investments NV		760
	1,224		Nippon Accommodations Fund, Inc		4,648
	409		Nippon Building Fund, Inc		2,009
	1,569		Nippon ProLogis REIT, Inc		3,454
	283	e	NIPPON REIT Investment Corp		770
	25,067	*	Nitsba Holdings 1995 Ltd		402
	126,601		Nomura Real Estate Holdings, Inc		2,280
	5,946	*	Nomura Real Estate Master Fund, Inc		7,388
	395		Nomura Real Estate Office Fund, Inc		1,919
	150		Nomura Real Estate Residential Fund, Inc		833
	16,695		Northern Property Real Estate Investment Trust		311
	713,541	e	NorthStar Realty Finance Corp		12,929
	20,452		NorthWest Healthcare Properties Real Estate Investment Trust		147
	236,029	*	Norwegian Property ASA		305
	1,674,262		Novion Property Group		3,189
	130,936		NTT Urban Development Corp		1,308
	396,272		Oberoi Realty Ltd		1,797
	546,992	e	Omega Healthcare Investors, Inc		22,191
	54,154	e	One Liberty Properties, Inc		1,322
	16,000		Open House Co Ltd		376
	4,304	*	Orix JREIT, Inc		6,164
	1,760,500	e	OUE Hospitality Trust		1,206
	389,677		Outfront Media, Inc		11,659
	40,649	e	Owens Realty Mortgage, Inc		609
	652,699	*	Palm Hills Developments SAE		344
	526,384		Paramount Group, Inc		10,159
	719,700	e	Parkway Life Real Estate Investment Trust		1,238
	269,228		Parkway Properties, Inc		4,671
	2,150,121		Parque Arauco S.A.		4,119

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	35,391	*	Patrizia Immobilien AG.	$	634
	480,100		Pavilion Real Estate Investment Trust		198
	236,774		Pebblebrook Hotel Trust		11,027
	242,063		Pennsylvania REIT		5,623
	258,645		Pennymac Mortgage Investment Trust		5,507
	394,300	*,e	Perennial Real Estate Holdings Ltd		301
	1,401,586		Phoenix Mills Ltd		7,994
	213,641		Physicians Realty Trust		3,762
	292,285		Piedmont Office Realty Trust, Inc		5,439
	1,506,800	e	PLA Administradora Industrial S de RL de C.V.		3,056
	76,611		Plum Creek Timber Co, Inc		3,329
	19,380		Polski Holding Nieruchomosci S.A.		130
	2,733,117	e	Poly Hong Kong Investment Ltd		1,328
	8,341,160		Polytec Asset Holdings Ltd		1,151
	360,352		Post Properties, Inc		20,515
	233,699		Potlatch Corp		9,357
	1,979,000	*	Powerlong Real Estate Holdings Ltd		332
	1,260,401	e	Precinct Properties New Zealand Ltd		1,106
	446	*,e	Premier Investment Co		2,567
	69,744		Prestige Estates Projects Ltd		299
	225,379	e	Primary Health Properties plc		1,353
	199,227	*	Prime Office AG.		867
	2,448,826		Prince Housing & Development Corp		1,012
	276,700	e	ProLogis Property Mexico S.A. de C.V.		495
	1,322,035		Prologis, Inc		57,588
	1,213,000	e	Prosperity REIT		441
	127,785		PS Business Parks, Inc		10,611
	108,628		PSP Swiss Property AG.		10,238
	24,504,700		PT Agung Podomoro Land Tbk		824
	10,400,500		PT Alam Sutera Realty Tbk		441
	3,609,000		PT Bekasi Fajar Industrial Estate Tbk		160
	5,361,527		PT Bumi Serpong Damai		874
	29,814,800		PT Ciputra Development Tbk		3,358
	15,300,000		PT Ciputra Property Tbk		882
	3,597,600		PT Ciputra Surya Tbk		845
	6,006,400		PT Intiland Development Tbk		264
	100,044,487		PT Kawasan Industri Jababeka Tbk		2,529
	370,100	*	PT Lippo Cikarang Tbk		330
	45,362,697		PT Lippo Karawaci Tbk		4,680
	22,264,900		PT Modernland Realty Tbk		867
	5,991,200	*	PT Nirvana Development Tbk		104
	75,372,900		PT Pakuwon Jati Tbk		2,967
	21,461,100	*	PT Sentul City Tbk		198
	9,091,600		PT Summarecon Agung Tbk		1,195
	538,982		Public Storage, Inc		106,255
	4,346,170	*	Puravankara Projects Ltd		4,303
	99,472		Pure Industrial Real Estate Trust		397
	40,878		QTS Realty Trust, Inc		1,488
	20,312,232		Quality House PCL		2,356
	660,512	*	Quintain Estates & Development plc		926
	2,005,470		Radium Life Tech Co Ltd		1,036
	284,761	e	RAIT Investment Trust		1,953

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	859,591		RAK Properties PJSC	$	150
	253,993		Ramco-Gershenson Properties		4,724
	235,546		Rayonier, Inc		6,350
	11,500	*,e	Raysum Co Ltd		118
	34,652		Re/Max Holdings, Inc		1,151
	98,028	*,e	Realia Business S.A.		81
	1,873,680	*	Realogy Holdings Corp		85,215
	81,386	e	Realty Income Corp		4,200
	765,392		Rebosis Property Fund Ltd		785
	946,000	e,g	Redco Properties Group Ltd		474
	1,856,483		Redefine International plc		1,618
	6,697,467		Redefine Properties Ltd		6,839
	283,760	e	Redwood Trust, Inc		5,071
	26,271,000		Regal Real Estate Investment Trust		7,524
	653,780		Regency Centers Corp		44,483
	22,800		Relo Holdings, Inc		2,017
	15,765,250	*,e	Renhe Commercial Holdings Co Ltd		742
	124,529		Resilient Property Income Fund Ltd		1,068
	444,363		Resource Capital Corp		2,017
	333,004		Retail Opportunities Investment Corp		6,094
	1,053,716		Retail Properties of America, Inc		16,891
	226,310		Rexford Industrial Realty, Inc		3,578
	496,208		RioCan Real Estate Investment Trust		11,350
	463,710		RLJ Lodging Trust		14,519
	443,000		Road King Infrastructure		405
	2,612,200		Robinsons Land Corp		1,798
	1,150,200	*	Rojana Industrial Park PCL		298
	130,929	e	Rouse Properties, Inc		2,482
	698,488		Ruentex Development Co Ltd		1,071
	134,617	e	Ryman Hospitality Properties		8,200
	3,474,646		S.A. Corporate Real Estate Fund		1,404
	647,440	e	Sabana Shari’ah Compliant Industrial REIT		425
	198,738		Sabra Healthcare REIT, Inc		6,588
	406,498		Safestore Holdings plc		1,763
	120,000		Saizen REIT		75
	12,604,476		Sansiri PCL		716
	36,900		Sao Carlos Empreendimentos e Participacoes S.A.		357
	62,554		Saul Centers, Inc		3,578
	289,414		Savills plc		3,480
	1,699,200		SC Asset Corp PCL		190
	18,088,293		Scentre Group		51,386
	505,333		Schroder Real Estate Investment Trust Ltd		467
	532,423		Segro plc		3,288
	2,519	e	Sekisui House SI Residential Investment Corp		2,717
	124,842		Select Income REIT		3,120
	98,711		Selvaag Bolig ASA		342
	184,881		Senior Housing Properties Trust		4,102
	763,070		Shaftesbury plc		9,386
	250,340		Shanghai Jinqiao Export Processing Zone Development Co Ltd		422
	72,000		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		172

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	19,995,430		Shanghai Real Estate Ltd	$	511
	6,617,668		Shenzhen Investment Ltd		2,452
	233,100	*	Shenzhen SEG Co Ltd		145
	1,680,325		Shimao Property Holdings Ltd		3,526
	320,830	*	Shining Building Business Co Ltd		185
	195,432		Shoei Co Ltd		2,196
	2,000,245		Shopping Centres Australasia Property Group		3,070
	12,535,167	e	Shui On Land Ltd		2,959
	480	*	SIA Reit, Inc		1,874
	133,143		Silver Bay Realty Trust Corp		2,152
	1,352,523		Simon Property Group, Inc		264,608
	992,600	*	SingHaiyi Group Ltd		110
	2,615,422		Sino Land Co		4,265
	1,562,000	*	Sinolink Worldwide Holdings Ltd		123
	14,292,717		Sino-Ocean Land Holdings Ltd		8,646
	234,998		Sinpas Gayrimenkul Yatirim Ortakligi AS		68
	216,509		Sinyi Realty Co		238
	140,257	*	Six of October Development & Investment		254
	438,299		SL Green Realty Corp		56,269
	12,368,016		SM Prime Holdings		5,520
	595,645		Sobha Developers Ltd		3,825
	6,139,350		Soho China Ltd		4,181
	1,440,500		Soilbuild Business Space REIT		850
	65,600		Sonae Sierra Brasil S.A.		390
	94,000		Soundwill Holdings Ltd		153
	135,392	e	Sovran Self Storage, Inc		12,719
	108,749		Sparkassen Immobilien AG.		988
	881,100		Spirit Realty Capital, Inc		10,644
	451,723		Sponda Oyj		1,938
	1,142,000	e	Spring Real Estate Investment Trust		542
	354,252		ST Modwen Properties plc		2,335
	167,667	*,e	St. Joe Co		3,112
	191,528		STAG Industrial, Inc		4,505
	1,594,830	e	Starwood Property Trust, Inc		38,754
	135,769	e	Starwood Waypoint Residential Trust		3,510
	3,185,048		Stockland Trust Group		10,882
	86,779		STORE Capital Corp		2,026
	1,727,822	*	Strategic Hotels & Resorts, Inc		21,477
	16,940		Sumitomo Real Estate Sales Co Ltd		460
	435,286		Sumitomo Realty & Development Co Ltd		15,671
	299,894		Summit Hotel Properties, Inc		4,219
	152,087		Sun Communities, Inc		10,147
	56,800	e	Sun Frontier Fudousan Co Ltd		523
	4,036,145		Sun Hung Kai Properties Ltd		62,235
	2,425,000		Sunac China Holdings Ltd		2,104
	2,487,000	e	Sunlight Real Estate Investment Trust		1,212
	1,053,920		Sunstone Hotel Investors, Inc		17,569
	1,950,198		Suntec Real Estate Investment Trust		2,634
	1,828,634	*	Sunteck Realty Ltd		7,292
	1,642,558		Sunway BHD		1,618
	2,611,800		Sunway Real Estate Investment		1,107
	2,274,100		Supalai PCL		1,499

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	713,193		Swire Pacific Ltd (Class A)	$	9,708
	1,066,101		Swire Properties Ltd		3,463
	55,418		Swiss Prime Site AG.		4,812
	258,780	e	TAG Tegernsee Immobilien und Beteiligungs AG.		3,569
	350,668		Taiwan Land Development Corp		175
	225,600	e	Takara Leben Co Ltd		1,208
	1,100,319		Talaat Moustafa Group		1,507
	435,307		Tanger Factory Outlet Centers, Inc		15,310
	60,534		Taubman Centers, Inc		4,669
	132,612	e	Technopolis plc		596
	45,218	*	Tejon Ranch Co		1,196
	139,073		Terreno Realty Corp		3,171
	46,000		Tian Shan Development Holding Ltd		20
	673,180		Ticon Industrial Connection PCL (Foreign)		312
	375,000	e	Times Property Holdings Ltd		149
	58,700		TOC Co Ltd		460
	2,113,233		Tokyo Tatemono Co Ltd		15,482
	107,115		Tokyu Fudosan Holdings Corp		731
	1,045	*	Tokyu REIT, Inc		1,355
	1,067		Top REIT Inc		4,441
	300,500		Top Spring International Holdings Ltd		90
	484,689		Torunlar Gayrimenkul Yatirim Ortakligi AS		728
	1,685,800	e	Tosei Corp		10,959
	72,433	e	Trade Street Residential, Inc		519
	1,000,300		Tropicana Corp BHD		278
	564,808		Tuan Sing Holdings Ltd		162
	1,194,811		Two Harbors Investment Corp		12,689
	189,482		UDR, Inc		6,448
	1,382,460		UEM Land Holdings BHD		514
	78,967		UMH Properties, Inc		795
	116,816		Unibail-Rodamco		31,545
	813,062	*	Union Properties PJSC		214
	237,562		Unite Group plc		2,063
	74,571,733	*	Unitech Ltd		19,202
	73,369		United Development Co PSC		423
	214,093		United Overseas Land Ltd		1,191
	1,604		United Urban Investment Corp		2,500
	989,000		Univentures PCL		235
	47,473	e	Universal Health Realty Income Trust		2,670
	803,548		UOA Development BHD		480
	139,708		Urban Edge Properties		3,311
	94,357		Urstadt Biddle Properties, Inc (Class A)		2,176
	115,071		Vakif Gayrimenkul Yatirim Ortakligi AS		109
	19,798		Vastned Retail NV		970
	1,054,325		Ventas, Inc		76,987
	13,071,000		Vista Land & Lifescapes, Inc		2,512
	628,765		Vornado Realty Trust		70,422
	755,506		Vukile Property Fund Ltd		1,199
	100,445		Wallenstam Byggnads AB (B Shares)		1,659
	836,000	*,e	Wanda Hotel Development Co Ltd		187
	28,014		Warehouses De Pauw SCA		2,184
	219,603		Washington REIT		6,068

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	81,446		Weingarten Realty Investors	$	2,930
	37,316		Wereldhave NV		2,508
	145,321	e	Western Asset Mortgage Capital Corp		2,191
	3,900,660		Westfield Corp		28,269
	240,634		Weyerhaeuser Co		7,977
	505,595		WHA Corp PCL		489
	6,224,676		Wharf Holdings Ltd		43,453
	2,154,064		Wheelock & Co Ltd		11,007
	441,297		Wheelock Properties S Ltd		597
	73,485		Whitestone REIT		1,167
	152,580		Wihlborgs Fastigheter AB		2,950
	428,532	e	Wing Tai Holdings Ltd		599
	340,624		Workspace Group plc		4,307
	41,764		WP Carey, Inc		2,840
	1,326,307		WP GLIMCHER, Inc		22,056
	5,238,000	e	Wuzhou International Holdings Ltd		893
	5,646,100	e	Yanlord Land Group Ltd		4,025
	964,500	*	Ying Li International Real Estate Ltd		158
	11,843		YNH Property BHD		6
	86,200		YTL Hospitality REIT		24
	3,153,000		Yuexiu Real Estate Investment Trust		1,798
	32,118,733	e	Yuexiul Property Co Ltd		6,302
	177,000		Yungshin Construction & Development Co Ltd		364
	2,657,120		Yuzhou Properties Co		631
	222,000	*,e	Zall Development Group Ltd		72
	3,858,800		Zhong An Real Estate Ltd		423
			TOTAL REAL ESTATE		4,824,187
RETAILING - 4.1%
	176,533	*,e	1-800-FLOWERS.COM, Inc (Class A)		2,088
	105,374		Aaron’s, Inc		2,983
	88,639	e	ABC-Mart, Inc		5,184
	235,062	e	Abercrombie & Fitch Co (Class A)		5,181
	14,110	e	Adastria Holdings Co Ltd		390
	294,106		Advance Auto Parts, Inc		44,025
	271,712	*,e	Aeropostale, Inc		943
	23,200	e	Alpen Co Ltd		363
	1,371,122	*,n	Amazon.com, Inc		510,195
	936,014	e	American Eagle Outfitters, Inc		15,987
	24,168	*	America’s Car-Mart, Inc		1,311
	207,894	*	Ann Taylor Stores Corp		8,530
	161,993	*,e	AO World plc		440
	40,600		AOKI Holdings, Inc		574
	51,741		Aoyama Trading Co Ltd		1,689
	14,400		Arc Land Sakamoto Co Ltd		309
	14,700	e	Asahi Co Ltd		152
	91,798	*	Asbury Automotive Group, Inc		7,628
	196,520	*	Ascena Retail Group, Inc		2,851
	18,300	e	ASKUL Corp		430
	169,875	*,e	ASOS plc		9,093
	321,000		Aurora Corp		550
	117,588		Autobacs Seven Co Ltd		1,856

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	21,159	e	AutoCanada, Inc	$	529
	299,019		Automotive Holdings Group		954
	143,595	*	Autonation, Inc		9,237
	106,359	*	AutoZone, Inc		72,554
	2,365,020		B&M European Value Retail S.A.		10,963
	118,100	*	B2W Companhia Global Do Varejo		738
	567,255	*	Barnes & Noble, Inc		13,472
	1,421,951		Beauty Community PCL (ADR)		1,868
	113,853	e	Bebe Stores, Inc		413
	732,023	*,e	Bed Bath & Beyond, Inc		56,201
	119,300		Belluna Co Ltd		584
	1,186,400		Berjaya Auto BHD		1,209
	4,299,860		Best Buy Co, Inc		162,492
	147,600	e	BIC CAMERA, Inc		1,533
	61,166		Big 5 Sporting Goods Corp		812
	280,049		Big Lots, Inc		13,451
	66,145		Bilia AB (A Shares)		2,375
	60,081	*,e	Blue Nile, Inc		1,913
	1,645,800		Bonjour Holdings Ltd		136
	53,803	e	Bon-Ton Stores, Inc		374
	703,845	*,e	boohoo.com plc		278
	34,849	*	Boot Barn Holdings, Inc		834
	537,000	*,e,m	Boshiwa International Holding		1
	94,388	e	Breville Group Ltd		541
	171,149		Brown Shoe Co, Inc		5,614
	76,560	e	Buckle, Inc		3,911
	99,385	*	Build-A-Bear Workshop, Inc		1,953
	154,897	*	Burlington Stores, Inc		9,204
	968,861		Byggmax Group AB		6,727
	104,394	*,e	Cabela’s, Inc		5,844
	118,106		Canadian Tire Corp Ltd		12,032
	205,800		Canon Marketing Japan, Inc		4,128
	252,372	*	Card Factory plc		1,102
	553,841	*	Carmax, Inc		38,221
	642,053	e	Cash Converters International Ltd		440
	44,941		Cashbuild Ltd		867
	102,447		Cato Corp (Class A)		4,057
	121,312	*,e	CDON Group AB		223
	598,000		Century Ginwa Retail Holdings Ltd		103
	376,099		Chico’s FAS, Inc		6,653
	78,141		Children’s Place Retail Stores, Inc		5,016
	1,549,000	e	China Harmony Auto Holding Ltd		1,299
	1,086,000	e	China Merchants Land Ltd		165
	7,392,000	e	China ZhengTong Auto Services Holdings Ltd		3,505
	22,700		Chiyoda Co Ltd		511
	28,800		Chori Co Ltd		444
	441,000		Chow Sang Sang Holding		957
	100,418	*	Christopher & Banks Corp		558
	178,700		Cia Hering		918
	50,465	*	Citi Trends, Inc		1,363
	20,570		CJ O Shopping Co Ltd		4,242
	100,452		Clas Ohlson AB (B Shares)		1,636

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,862,550	*	Cnova NV	$	11,715
	386,000	*,g	Cogobuy Group		346
	68,714	*,e	Conn’s, Inc		2,081
	47,734	*,e	Container Store Group, Inc		909
	75,058		Core-Mark Holding Co, Inc		4,828
	349,675		CST Brands, Inc		15,326
	109,700	*,e	Ctrip.com International Ltd (ADR)		6,431
	2,039,300	e	Dah Chong Hong Holdings Ltd		1,005
	300,200		DCM Japan Holdings Co Ltd		2,248
	1,797,592		Debenhams plc		2,000
	122,313		Delek Automotive Systems Ltd		1,439
	4,164	e	Delticom AG.		86
	45,997		Destination Maternity Corp		693
	128,319	*	Destination XL Group, Inc		634
	703,207	e	Dick Smith Holdings Ltd		1,042
	953,282		Dick’s Sporting Goods, Inc		54,328
	800,803		Dickson Concepts International Ltd		346
	22,701		Dieteren S.A.		796
	235,693		Dillard’s, Inc (Class A)		32,174
	54,031		Dogus Otomotiv Servis ve Ticaret AS		285
	1,573,098	*	Dollar General Corp		118,580
	715,312	*	Dollar Tree, Inc		58,044
	301,873		Dollarama, Inc		16,875
	44,894		Don Quijote Co Ltd		3,649
	24,000		Doshisha Co Ltd		372
	1,262,773		DSW, Inc (Class A)		46,571
	29,102	*	Dufry Group		4,303
	193,773		Dunelm Group plc		2,415
	344,283	e	EDION Corp		2,588
	216,576		El Puerto de Liverpool SAB de C.V.		2,556
	4,030,000	e	Emperor Watch & Jewellery Ltd		133
	2,600,000	*	Empresas La Polar S.A.		77
	3,042,400	e	Esprit Holdings Ltd		3,086
	189,533	*	EVINE Live, Inc		1,272
	1,038,438		Expedia, Inc		97,748
	359,084	*	Express Parent LLC		5,936
	121,815		Family Dollar Stores, Inc		9,653
	789,582		Far Eastern Department Stores Co Ltd		667
	116,175		Fast Retailing Co Ltd		44,920
	155,807		Finish Line, Inc (Class A)		3,820
	872,068	*,e	Five Below, Inc		31,019
	32,718	*	Folli Follie S.A.		972
	711,045		Foot Locker, Inc		44,796
	380,314		Foschini Ltd		5,654
	118,509	*	Francesca’s Holdings Corp		2,109
	126,059		Fred’s, Inc (Class A)		2,154
	64,087	*	FTD Cos, Inc		1,919
	18,900		Fuji Co Ltd		325
	54,647	*	Gaiam, Inc (Class A)		398
	83,877	*,e	GAME Digital plc		301
	835,879	e	GameStop Corp (Class A)		31,730
	444,714		Gap, Inc		19,269

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	80,826	*	Genesco, Inc	$	5,757
	165,019		Genuine Parts Co		15,378
	163,300		Geo Corp		1,726
	1,250,000		Giordano International Ltd		611
	278,866		GNC Holdings, Inc		13,684
	531,399	e	Golden Eagle Retail Group Ltd		648
	517,000		Goldlion Holdings Ltd		228
	50,306,623	e	GOME Electrical Appliances Holdings Ltd		7,247
	465,430	*,g	GrandVision NV		10,957
	82,605		Group 1 Automotive, Inc		7,131
	10,924	*	Groupe Fnac		680
	5,865,885	*,e	Groupon, Inc		42,293
	251,127	*,e	Grupo Famsa SAB de C.V.		177
	10,971		GS Home Shopping, Inc		2,193
	209,298	e	Guess?, Inc		3,891
	58,200		Gulliver International Co Ltd		479
	761		GwangjuShinsegae Co Ltd		211
	204,381		Halfords Group plc		1,391
	84,925	e	Hankyu Department Stores, Inc		1,598
	122,800		Happinet Corp		1,461
	2,367,302	e	Harvey Norman Holdings Ltd		8,002
	65,633		Haverty Furniture Cos, Inc		1,633
	12,002,027	e	Hengdeli Holdings Ltd		2,229
	1,865,694		Hennes & Mauritz AB (B Shares)		75,594
	50,136	*,e	HHgregg, Inc		307
	70,563	*,e	Hibbett Sports, Inc		3,462
	24,400		Hikari Tsushin, Inc		1,580
	6,178,168		Home Depot, Inc		701,902
	3,590,465		Home Product Center PCL (Foreign)		899
	825,363		Home Retail Group		2,013
	11,610	e	Honeys Co Ltd		102
	269,196		Hotai Motor Co Ltd		4,153
	38,618		Hotel Shilla Co Ltd		3,401
	194,521		HSN, Inc		13,272
	56,141		Hudson’s Bay Co		1,162
	15,140		Hyundai Department Store Co Ltd		2,030
	5,424		Hyundai Home Shopping Network Corp		625
	16,400		Ikyu		288
	270,330	e	Imperial Holdings Ltd		4,286
	2,216,007		Inchcape plc		26,052
	861,165		Inditex S.A.		27,648
	64,200		International Meal Company Alimentacao S.A.		133
	200,346		Interpark Corp		1,635
	8,510		Interpark INT Corp		159
	75,566,115	*	Intime Retail Group Co Ltd		52,557
	186,428		Isetan Mitsukoshi Holdings Ltd		3,080
	1,242,000		IT Ltd		413
	40,600		Izumi Co Ltd		1,486
	492,019		J Front Retailing Co Ltd		7,724
	103,109	e	Jardine Cycle & Carriage Ltd		3,080
	122,273	e	JB Hi-Fi Ltd		1,734
	7,735,992	*,e	JC Penney Co, Inc		65,060

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	343,897	*	JD.com, Inc (ADR)	$	10,104
	11,600	e	Jin Co Ltd		402
	143,959		John Menzies plc		801
	36,000		Joshin Denki Co Ltd		286
	28,300	*,e	Joyful Honda Co Ltd		1,084
	375,229		JUMBO S.A.		3,906
	148,320		KappAhl Holding AB		684
	213,276	e	Kathmandu Holdings Ltd		220
	20,887	e	Keiyo Co Ltd		100
	2,368,683		Kingfisher plc		13,364
	55,109	*	Kirkland’s, Inc		1,309
	455,299		Kohl’s Corp		35,627
	26,800		Kohnan Shoji Co Ltd		300
	23,088		Kolao Holdings		355
	32,700		Komeri Co Ltd		770
	78,000		Koradior Holdings Ltd		106
	161,763	e	K’s Holdings Corp		5,231
	1,006,408		L Brands, Inc		94,894
	56,253	*,e	Lands’ End, Inc		2,018
	132,000	*,e	Laox Co Ltd		321
	13,527		LEADCORP, Inc		185
	318,212	e	Lewis Group Ltd		2,031
	5,003,119		Li & Fung Ltd		4,885
	1,771,645	*	Liberty Interactive Corp		51,714
	194,161	*	Liberty TripAdvisor Holdings, Inc		6,172
	742,423	*	Liberty Ventures		31,189
	61,137	*	Lifestyle Properties Development Ltd		15
	63,673		Lithia Motors, Inc (Class A)		6,330
	393,228	*	LKQ Corp		10,051
	157,637		Lojas Americanas S.A.		652
	554,854		Lojas Americanas S.A.(Preference)		2,860
	131,464		Lojas Renner S.A.		3,739
	698,518		Lookers plc		1,487
	7,949		LOTTE Himart Co Ltd		483
	21,678		Lotte Shopping Co Ltd		4,634
	3,400,288		Lowe’s Companies, Inc		252,947
	1,060,000	e	Luk Fook Holdings International Ltd		2,956
	74,745	*,e	Lumber Liquidators, Inc		2,301
	2,452,330		Macy’s, Inc		159,181
	78,400		Magazine Luiza S.A.		126
	2,933,000	e	Maoye International Holdings Ltd		466
	83,068	*	MarineMax, Inc		2,202
	53,900		Marisa Lojas S.A.		238
	3,474,944		Marks & Spencer Group plc		27,483
	528,723	e	Marui Co Ltd		5,991
	98,183		Matas A.S.		2,240
	31,700		Matsuya Co Ltd		481
	39,623	*,e	Mattress Firm Holding Corp		2,759
	375,500		MBM Resources BHD		333
	57,854		Mekonomen AB		1,528
	139,340		Men’s Wearhouse, Inc		7,274
	1,801,330		MFI Furniture plc		11,823

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	147,389	*	Michaels Cos, Inc	$	3,988
	394,504	*	Mobile World Investment Corp		1,958
	29,329		Mobilezone Holding AG.		423
	86,139	e	Monro Muffler, Inc		5,603
	203,505	*	Mothercare plc		623
	401,771		Mr Price Group Ltd		8,593
	245,918	*	Murphy USA, Inc		17,797
	596,558	e	Myer Holdings Ltd		615
	70,806	*	MySale Group plc		53
	158,410	e	N Brown Group plc		744
	376,000		National Petroleum Co Ltd		454
	235,542	*	NetFlix, Inc		98,148
	1,820,801		New Carphone Warehouse plc		11,136
	537,000	e	New World Department Store China Ltd		134
	86,321	*	New York & Co, Inc		216
	375,387		Next plc		39,040
	47,700	e	Nishimatsuya Chain Co Ltd		420
	67,112		Nitori Co Ltd		4,543
	220,674		Nordstrom, Inc		17,725
	218,217		Nutri/System, Inc		4,360
	475,134	*,e	Ocado Ltd		2,476
	1,811,240	*	Office Depot, Inc		16,663
	102,400		OfficeMate PCL		186
	196,713	*	Orbitz Worldwide, Inc		2,294
	501,506	*	O’Reilly Automotive, Inc		108,446
	217,700	e	OSIM International Ltd		311
	51,941	e	Outerwall, Inc		3,434
	67,613	*,e	Overstock.com, Inc		1,638
	2,291,298	e	Pacific Brands Ltd		800
	149,200	*	Pacific Sunwear Of California, Inc		412
	1,433,600		Padini Holdings BHD		564
	11,100		Pal Co Ltd		316
	35,700		Paltac Corp		502
	150,000		Pantaloon Retail India Ltd		237
	21,700		Parco Co Ltd		202
	17,300		Paris Miki, Inc		70
	449,097		Parkson Holdings BHD		266
	1,138,000	e,m	Parkson Retail Group Ltd		185
	116,746		PC Jeweller Ltd		590
	111,716		Penske Auto Group, Inc		5,752
	180,330	*	PEP Boys - Manny Moe & Jack		1,735
	53,567	e	PetMed Express, Inc		885
	256,806		Pets at Home Group plc		958
	317,708	e	Pier 1 Imports, Inc		4,442
	5,723,500	*	Pou Sheng International Holdings Ltd		391
	443,034		Poundland Group plc		2,397
	42,317		Poya Co Ltd		402
	20,790		PPR		4,059
	85,951		Premier Investments Ltd		836
	183,320	*	Priceline.com, Inc		213,412
	6,983,600		PT ACE Hardware Indonesia Tbk		392
	5,800,786		PT Matahari Department Store Tbk		8,723

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	664,600		PT Mitra Adiperkasa Tbk	$	267
	3,472,700	*	PT Mitra Pinasthika Mustika Tbk		214
	21,019,700		PT Multipolar Corp Tbk		1,533
	9,160,400		PT Ramayana Lestari Sentosa Tbk		525
	1,739,800		PT Tiphone Mobile Indonesia Tbk		130
	1,118,223		Rakuten, Inc		19,690
	109,437		Reitmans Canada Ltd		554
	177,060		Rent-A-Center, Inc		4,859
	146,059	*,e	Restoration Hardware Holdings, Inc		14,488
	1,709,682		Ripley Corp S.A.		824
	38,833	*	Risa International Ltd		105
	183,300		RONA, Inc		2,345
	647,496		Ross Stores, Inc		68,220
	36,000		Ryohin Keikaku Co Ltd		5,228
	1,058,000	e	SA SA International Holdings Ltd		517
	1,125,315		SACI Falabella		8,608
	552,189	*	Sally Beauty Holdings, Inc		18,979
	35,858	e	Sanrio Co Ltd		958
	52,400	e	Sears Canada, Inc		485
	38,847	*,e	Sears Holdings Corp		1,607
	41,049	*,e	Sears Hometown and Outlet Stores, Inc		317
	235,375	*	Select Comfort Corp		8,113
	273,000		Senao International Co Ltd		403
	65,400	e	Senshukai Co Ltd		474
	10,174	*	Seobu Truck Terminal Co Ltd		185
	41,700		Seria Co Ltd		1,508
	177,200		Shimachu Co Ltd		4,675
	115,403		Shimamura Co Ltd		10,689
	6,233		Shinsegae Co Ltd		945
	2,463		Shinsegae International Co Ltd		187
	49,950		Shoe Carnival, Inc		1,471
	25,267		Shopper’s Stop Ltd		166
	128,171	*	Shutterfly, Inc		5,798
	1,400,057		Siam Global House PCL		399
	1,423,000	e	Sichuan Xinhua Winshare Chainstore Co Ltd		1,387
	159,526		Signet Jewelers Ltd		22,141
	10,000		Signet Jewelers Ltd (London)		1,388
	134,304		Sonic Automotive, Inc (Class A)		3,344
	505,624	*	Sports Direct International plc		4,544
	27,596	*,e	Sportsman’s Warehouse Holdings, Inc		220
	2,513,000		Springland International Holdings Ltd		768
	109,462		Stage Stores, Inc		2,509
	1,620,644		Staples, Inc		26,392
	54,900		Start Today Co Ltd		1,445
	94,836		Stein Mart, Inc		1,181
	31,098	e	Stockmann Oyj Abp (B Share)		246
	18,458,302	*	Summit Ascent Holdings Ltd		9,850
	139,909	e	Super Cheap Auto Group Ltd		1,021
	360,474	*	Super Group Ltd		1,033
	40,623	*	SuperGroup plc		575
	40,531	*	Systemax, Inc		495
	40,000		Syuppin Co Ltd		526

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	407,819		Takashimaya Co Ltd	$	4,006
	70,756		Takkt AG.		1,295
	1,986,770		Target Corp		163,054
	26,300		Telepark Corp		348
	7,745,865		Test-Rite International Co		5,136
	339,325		Thorn Group Ltd		689
	341,925		Tiffany & Co		30,093
	79,839	*,e	Tile Shop Holdings, Inc		967
	46,892	*	Tilly’s, Inc		734
	1,911,065		TJX Companies, Inc		133,870
	15,500		Tokyo Derica Co Ltd		249
	43,507	*	Tom Tailor Holding AG.		548
	239,907		Tractor Supply Co		20,406
	403,062		Trade Me Ltd		1,113
	80,670	e	Travelport Worldwide Ltd		1,347
	9,451		Trent Ltd		222
	279,747	*	TripAdvisor, Inc		23,267
	736,947		Truworths International Ltd		5,349
	174,203		Tsutsumi Jewelry Co Ltd		4,280
	125,320	*,e	Tuesday Morning Corp		2,018
	505,267	*	Ulta Salon Cosmetics & Fragrance, Inc		76,220
	20,499		United Arrows Ltd		608
	222,900	*	Urban Outfitters, Inc		10,175
	55,103		USS Co Ltd		952
	10,603	e	Valora Holding AG.		2,364
	38,620	*	Via Varejo S.A.		198
	300,850	*,e	Vipshop Holdings Ltd (ADR)		8,857
	98,643	*	Vitamin Shoppe, Inc		4,063
	68,871	*,e	VOXX International Corp (Class A)		631
	73,200	e	VT Holdings Co Ltd		321
	118,343	e	Warehouse Group Ltd		235
	144,705	*,e	Wayfair, Inc		4,648
	65,147	*	West Marine, Inc		604
	317,221		WH Smith plc		6,095
	397,551		Williams-Sonoma, Inc		31,689
	5,555		Winmark Corp		486
	1,080,736		Woolworths Holdings Ltd		7,662
	128,381	*,e	World Duty Free S.p.A		1,381
	98,100		Xebio Co Ltd		1,702
	186,585	e	Yamada Denki Co Ltd		768
	38,300		Yellow Hat Ltd		818
	91,993	*,e	Yoox S.p.A		2,537
	170,000	*,e,g	Zalando SE		4,252
	611,623	e	Zhongsheng Group Holdings Ltd		406
	4,714	*	zooplus AG.		430
	47,581	*,e	zulily, Inc		618
	101,736	*	Zumiez, Inc		4,095
			TOTAL RETAILING		5,151,496
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.7%
	874,780		A-DATA Technology Co Ltd		1,484
	115,839	*	Advanced Energy Industries, Inc		2,972

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,066,540	*,e	Advanced Micro Devices, Inc	$	2,858
	33,179,668		Advanced Semiconductor Engineering, Inc		44,930
	161,880	e	Advantest Corp		2,041
	111,133	*,e	Aixtron AG.		837
	228,000		ALI Corp		172
	70,669	*	Alpha & Omega Semiconductor Ltd		630
	581,018		Altera Corp		24,931
	90,728	*,e	Ambarella, Inc		6,869
	261,410	*	Amkor Technology, Inc		2,310
	130,042		ams AG.		6,209
	496,614		Analog Devices, Inc		31,287
	9,600		AOI Electronics Co Ltd		406
	6,371,002		Applied Materials, Inc		143,730
	212,686	*,e	Applied Micro Circuits Corp		1,085
	352,650		Ardentec Corp		345
	3,139,499		ARM Holdings plc		50,989
	119,822	e	ARM Holdings plc (ADR)		5,907
	53,151		ASM International NV		2,451
	514,823	e	ASM Pacific Technology		5,359
	622,178		ASML Holding NV		63,076
	1,711,211		Atmel Corp		14,083
	47,887	*	Atto Co Ltd		478
	47,204	*,e	Audience, Inc		214
	1,562,853		Avago Technologies Ltd		198,451
	374,804	*	Axcelis Technologies, Inc		892
	99,995		BE Semiconductor Industries NV		3,196
	3,791,432		Broadcom Corp (Class A)		164,150
	225,443		Brooks Automation, Inc		2,622
	82,593	*	Cabot Microelectronics Corp		4,127
	42,502	*,e	Cascade Microtech, Inc		577
	343,062	*	Cavium Networks, Inc		24,296
	69,538	*	Ceva, Inc		1,483
	810,000		China Electronics Corp Holdings Co Ltd		238
	11,538	*,e,m	China Energy Savings Technology, Inc		0	^
	756,000		Chipbond Technology Corp		1,594
	310,088		ChipMOS TECHNOLOGIES Bermuda Ltd		7,647
	892,000		ChipMOS Technologies, Inc		1,338
	364,083	*	Cirrus Logic, Inc		12,109
	85,397		Cohu, Inc		934
	554,000	*	Comtec Solar Systems Group Ltd		72
	181,853	*,e	Cree, Inc		6,454
	168,506		CSR plc		2,183
	818,535	e	Cypress Semiconductor Corp		11,550
	22,956		D.I Corp		167
	403,616		Dainippon Screen Manufacturing Co Ltd		3,053
	88,332	*	Dialog Semiconductor plc		3,973
	110,701	*	Diodes, Inc		3,162
	37,872		Disco Corp		3,864
	22,976	*	Dongbu HiTek Co Ltd		124
	79,048	*	DSP Group, Inc		947
	8,468	*	Duksan Hi-Metal Co Ltd		66
	633,000		Elan Microelectronics Corp		1,079

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	65,000		Elite Advanced Laser Corp	$	287
	235,000		Elite Semiconductor Memory Technology, Inc		374
	60,571		eMemory Technology, Inc		658
	416,383	*	Entegris, Inc		5,700
	300,303	*	Entropic Communications, Inc		889
	7,890		Eo Technics Co Ltd		908
	943,054		Epistar Corp		1,516
	278,167	*	E-Ton Solar Tech Co Ltd		163
	12,925		Eugene Technology Co Ltd		165
	677,000		Everlight Electronics Co Ltd		1,533
	135,403	*	Exar Corp		1,361
	43,727	*	EZchip Semiconductor Ltd		837
	511,880	*	Fairchild Semiconductor International, Inc		9,306
	335,101		Faraday Technology Corp		485
	131,315	*	First Solar, Inc		7,851
	270,000	*	Forhouse Corp		160
	187,548	*	Formfactor, Inc		1,664
	153,000		Formosa Advanced Technologies Co Ltd		113
	184,780	*	Freescale Semiconductor Holdings Ltd		7,532
	10,444,847	*,e	GCL Poly Energy Holdings Ltd		2,765
	22,845	*	GemVax & Kael Co Ltd		387
	23,686		Giga Solar Materials Corp		400
	263,986	*	Gigastorage Corp		233
	341,850	*	Gintech Energy Corp		236
	48,000		Global Mixed Mode Technology, Inc		139
	69,000		Global Unichip Corp		183
	140,700		Globetronics Technology BHD		200
	1,349,000		Greatek Electronics, Inc		1,780
	241,561	*	Green Energy Technology, Inc		146
	1,455,200		Hana Microelectronics PCL (Foreign)		1,970
	20,661,078	e	Hanergy Thin Film Power Group Ltd		18,602
	6,111		Hanmi Semiconductor Co Ltd		89
	15,975	*	Hansol LCD, Inc		228
	58,036		Hermes Microvision, Inc		3,339
	154,000		Holtek Semiconductor, Inc		290
	1,087,277		Hynix Semiconductor, Inc		44,412
	263,020	*,e	Imagination Technologies Group plc		822
	3,091,268		Infineon Technologies AG.		36,777
	2,222,644	*	Inotera Memories, Inc		2,950
	84,387	*	Inphi Corp		1,505
	551,418	*	Integrated Device Technology, Inc		11,039
	100,957		Integrated Silicon Solution, Inc		1,806
	14,620,689		Intel Corp		457,189
	439,168		Intersil Corp (Class A)		6,289
	81,336		IXYS Corp		1,002
	4,384,000		King Yuan Electronics Co Ltd		3,977
	250,350		Kinsus Interconnect Technology Corp		802
	421,093		Kla-Tencor Corp		24,546
	9,933		Koh Young Technology, Inc		398
	50,312	*	Kontron AG.		322
	227,291	*	Kopin Corp		800
	4,470	*	Kulicke & Soffa Industries, Inc		70

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,295,639		Lam Research Corp	$	90,999
	5,215,000	*	Landing International Development Ltd		97
	587,780	*	Lattice Semiconductor Corp		3,727
	7,728		LEENO Industrial Inc		271
	337,726		Lextar Electronics Corp		303
	515,189		Linear Technology Corp		24,111
	150,048		Lite-On Semiconductor Corp		122
	59,798		Lumens Co Ltd		337
	34,092	*,e	MA-COM Technology Solutions		1,270
	3,158,400	*	Macronix International		768
	208,200		Malaysian Pacific Industries BHD		393
	2,881	*,e	Manz Automation AG.		246
	2,325,237		Marvell Technology Group Ltd		34,181
	1,764,627		Maxim Integrated Products, Inc		61,427
	74,306	*,e	MaxLinear, Inc		604
	1,545,328		MediaTek, Inc		20,871
	17,500	*	Megachips Corp		203
	60,450		Melexis NV		3,607
	365,135	*,e	Mellanox Technologies Ltd		16,555
	118,965		Micrel, Inc		1,794
	748,110	e	Microchip Technology, Inc		36,583
	4,748,981	*,e	Micron Technology, Inc		128,840
	12,300	e	Micronics Japan Co Ltd		358
	341,031	*	Microsemi Corp		12,072
	38,600		Mimasu Semiconductor Industry Co Ltd		419
	69,688		Mitsui High-Tec, Inc		524
	186,527		MKS Instruments, Inc		6,306
	107,136		Monolithic Power Systems, Inc		5,641
	292,000		Motech Industries, Inc		395
	219,126	*,e	NANOCO Group plc		403
	71,807	*	Nanometrics, Inc		1,208
	597,921		Neo Solar Power Corp		528
	344,294	*,e	Nordic Semiconductor ASA		2,204
	2,460,426		Novatek Microelectronics Corp Ltd		12,698
	1,800		Nuflare Technology, Inc		80
	14,364		NVE Corp		990
	1,624,197		Nvidia Corp		33,986
	1,064,312	*	NXP Semiconductors NV		106,814
	186,174	*	Omnivision Technologies, Inc		4,909
	2,930,614	*	ON Semiconductor Corp		35,490
	17,000		On-Bright Electronics, Inc		105
	354,000		Opto Technology Corp		154
	1,899,600		Orise Technology Co Ltd		2,180
	50,401		Parade Technologies Ltd		474
	144,285	*	PDF Solutions, Inc		2,586
	78,617		Pericom Semiconductor Corp		1,216
	117,860		Phison Electronics Corp		977
	210,695	*	Photronics, Inc		1,791
	116,613		Pixart Imaging, Inc		388
	820,185	*	PMC - Sierra, Inc		7,611
	142,661		Power Integrations, Inc		7,430
	641,857		Powertech Technology, Inc		1,103

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	491,632	*	Qorvo, Inc	$	39,183
	149,089	*,e	QuickLogic Corp		288
	422,511		Radiant Opto-Electronics Corp		1,312
	304,295	*	Rambus, Inc		3,827
	2,736,209		Realtek Semiconductor Corp		8,715
	32,846	*,e	REC Solar ASA		414
	2,003,021	*,e	Renewable Energy Corp AS		581
	214,200		Richtek Technology Corp		1,171
	203,491		Rohm Co Ltd		13,905
	90,271	*,e	Rubicon Technology, Inc		356
	111,297	*	Rudolph Technologies, Inc		1,226
	238,689		Samsung Electronics Co Ltd		309,521
	40,528		Samsung Electronics Co Ltd (Preference)		40,243
	106,000		Sanken Electric Co Ltd		732
	21,754,000	*,e	Semiconductor Manufacturing International		2,113
	301,413	*	Semtech Corp		8,031
	30,396		Seoul Semiconductor Co Ltd		544
	196,000	e	Shanghai Fudan Microelectronics Group Co Ltd		159
	166,000		Shindengen Electric Manufacturing Co Ltd		828
	190,100		Shinko Electric Industries		1,350
	1,008,000	*,e	Shunfeng International Clean Energy Ltd		759
	1,149,000		Sigurd Microelectronics Corp		1,104
	34,934		Silergy Corp		265
	188,274	*	Silicon Laboratories, Inc		9,559
	9,810		Silicon Works Co Ltd		344
	5,547,573		Siliconware Precision Industries Co		9,192
	22,203	*	Simm Tech Co Ltd		217
	458,000		Sino-American Silicon Products, Inc		691
	904,000		Sitronix Technology Corp		3,285
	1,411,182		Skyworks Solutions, Inc		138,705
	11,066	*,e	SMA Solar Technology AG.		141
	115,005	*,e	SOITEC		109
	273,616	*	Solartech Energy Corp		172
	117,000		Sonix Technology Co Ltd		183
	1,221,700	*,e	Stats ChipPAC Ltd		453
	615,485		STMicroelectronics NV		5,736
	152,300	*	Sumco Corp		2,551
	609,079	*,e	SunEdison, Inc		14,618
	372,000	*	Sunplus Technology Co Ltd		161
	94,256	*,e	SunPower Corp		2,951
	5,130,700		SVI PCL		710
	205,000		Taiwan Semiconductor Co Ltd		220
	43,364,721		Taiwan Semiconductor Manufacturing Co Ltd		201,540
	871,941		Taiwan Surface Mounting Technology Co Ltd		1,094
	1,059,933		Teradyne, Inc		19,980
	168,662		Tessera Technologies, Inc		6,794
	2,880,668		Texas Instruments, Inc		164,731
	229,481		Tokyo Electron Ltd		15,918
	113,300		Tokyo Seimitsu Co Ltd		2,595
	490,752		Topco Scientific Co Ltd		970
	38,498	*	Tower Semiconductor Ltd		655
	169,608		Transcend Information, Inc		600

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,746,000	*,m	Trony Solar Holdings Co Ltd.	$	2
	20,705		U-Blox AG.		3,595
	8,800		UKC Holdings Corp		153
	112,370	*	Ultra Clean Holdings		803
	90,706	*	Ultratech, Inc		1,573
	39,500	*	Ulvac, Inc		607
	1,524,100		Unisem M BHD		896
	23,215,772		United Microelectronics Corp		11,503
	3,524,000	*,e	United Photovoltaics Group Ltd		391
	243,029		Unity Opto Technology Co Ltd		246
	810,756		Vanguard International Semiconductor Corp		1,376
	138,599	*	Veeco Instruments, Inc		4,234
	192,425		Visual Photonics Epitaxy Co Ltd		240
	148,640	*	Vitesse Semiconductor Corp		789
	208,000		Walton Advanced Engineering, Inc		90
	626,737		Win Semiconductors Corp		856
	2,598,000	*	Winbond Electronics Corp		852
	160,962	*	Xcerra Corp		1,431
	924,742		Xilinx, Inc		39,117
	2,206,000	e	Xinyi Solar Holdings Ltd		684
	62,228		Youngtek Electronics Corp		133
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		3,332,618
SOFTWARE & SERVICES - 8.2%
	37,676	*,e	A10 Networks, Inc		163
	2,143,134		Accenture plc		200,790
	308,544	*	ACI Worldwide, Inc		6,683
	3,064,421		Activision Blizzard, Inc		69,639
	5,845	*	Actoz Soft Co Ltd		192
	137,453	*	Actua Corp		2,129
	261,352	*	Acxiom Corp		4,832
	7,000		Addcn Technology Co Ltd		84
	2,360,977	*	Adobe Systems, Inc		174,571
	231,061		Advent Software, Inc		10,192
	1,736,000	*,e	AGTech Holdings Ltd		190
	5,725		Ahnlab, Inc		235
	614,642	*	Akamai Technologies, Inc		43,667
	170,030	*,e	Alibaba Group Holding Ltd (ADR)		14,153
	410,283	*,e	Alliance Data Systems Corp		121,546
	279,787		Alpha Systems, Inc		3,970
	53,542		Alten		2,456
	148,639		Altran Technologies S.A.		1,488
	795,465		Amadeus IT Holding S.A.		34,091
	24,789	*,e	Amber Road, Inc		229
	1,191,924		Amdocs Ltd		64,841
	67,114	*	American Software, Inc (Class A)		686
	120,722	*,e	Angie’s List, Inc		709
	688,734		Anite plc		858
	111,507	*	Ansys, Inc		9,834
	257,436	*	AOL, Inc		10,197
	1,100,000	*	ASG Group Ltd		661
	492,757	*	Aspen Technology, Inc		18,966

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	182,762		Asseco Poland S.A.	$	2,844
	11,700	*,e	Ateam, Inc		552
	225,077		Atos Origin S.A.		15,493
	910,661	*,g	Auto Trader Group plc		3,401
	1,525,055	*	Autodesk, Inc		89,429
	1,337,810		Automatic Data Processing, Inc		114,570
	65,632		Aveva Group plc		1,435
	184,042	*	AVG Technologies NV		3,985
	6,596		Axway Software S.A.		128
	11,678	*	Baidu, Inc (ADR)		2,434
	221,646	*	Bankrate, Inc		2,513
	102,399	*,e	Barracuda Networks, Inc		3,939
	156,226	*,e	Bazaarvoice, Inc		883
	46,589		Bechtle AG.		3,320
	353,000	*	Beijing Development HK Ltd		110
	13,532	*,e	Benefitfocus, Inc		498
	24,300	*,e	Bitauto Holdings Ltd (ADR)		1,236
	128,870		Blackbaud, Inc		6,106
	140,949	*,e	Blackhawk Network Holdings, Inc		5,042
	137	*	Blackhawk Network Holdings, Inc (B Shares)		5
	146,653	*	Blucora, Inc		2,003
	276,076		Booz Allen Hamilton Holding Co		7,990
	70,664	*,e	Borderfree, Inc		425
	114,294	*	Bottomline Technologies, Inc		3,128
	31,334	*	Box, Inc		619
	190,000	e	Boyaa Interactive International Ltd		159
	81,229	*	Brightcove, Inc		595
	25,300		Broadleaf Co Ltd		495
	464,981		Broadridge Financial Solutions, Inc		25,579
	90,942	*	BroadSoft, Inc		3,043
	21,778		Brogent Technologies, Inc		260
	2,751,612		CA, Inc		89,730
	78,129	*	CACI International, Inc (Class A)		7,025
	423,991	*,e	Cadence Design Systems, Inc		7,818
	131,375	*	Callidus Software, Inc		1,666
	14,115	e	Cancom SE		566
	522,576		Cap Gemini S.A.		42,873
	48,886		Capcom Co Ltd		971
	45,966	*,e	Carbonite, Inc		657
	122,788	*	Cardtronics, Inc		4,617
	17,768	*,e	Care.com, Inc		135
	218,119		carsales.com Ltd		1,716
	33,395		Cass Information Systems, Inc		1,875
	56,539	*	CD Projekt Red S.A.		293
	340,639		CDK Global, Inc		15,928
	13,121		Cegid Group		508
	484,349	*	CGI Group, Inc		20,543
	45,600	*	Chanjet Information Technology Co Ltd		104
	57,012	*,e	ChannelAdvisor Corp		552
	615,744	*,e	Check Point Software Technologies		50,473
	8,000,000	*,e	China Public Procurement Ltd		176
	914,000	*,e	Chinasoft International Ltd		374

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	257,905	*	Ciber, Inc	$	1,063
	1,508,829		Cielo S.A.		21,600
	268,571	*,e	Cimpress NV		22,662
	828,629	*	Citrix Systems, Inc		52,925
	18,938		CMC Ltd		579
	1,598,847	*	Cognizant Technology Solutions Corp (Class A)		99,752
	37,085	e	COLOPL, Inc		799
	6,563	*	Com2uSCorp		1,136
	127,794	*	Commvault Systems, Inc		5,585
	698,358		Computer Sciences Corp		45,589
	52,131		Computer Task Group, Inc		381
	570,810		Computershare Ltd		5,517
	268,316	*	comScore, Inc		13,738
	58,370	*	Comverse, Inc		1,150
	131,798	*,e	Constant Contact, Inc		5,036
	26,344		Constellation Software, Inc		9,105
	341,677		Convergys Corp		7,814
	24,000	*,e	COOKPAD, Inc		1,096
	165,766	*,e	Cornerstone OnDemand, Inc		4,789
	69,045	*	CoStar Group, Inc		13,659
	2,997,100	*	Country Group Development PCL		118
	34,576	*,e	Coupons.com, Inc		406
	144,789	*,e	Covisint Corp		294
	4,000	e	CROOZ, Inc		92
	107,227	e	CSG Systems International, Inc		3,259
	48,417	*,e	Cvent, Inc		1,358
	73,195	*,e	Cyan, Inc		292
	68,567		Cyberlink Corp		205
	108,295		Cyient Ltd		869
	32,135		Daou Technology, Inc		500
	519,982		Dassault Systemes S.A.		35,189
	66,936	*	Datalink Corp		806
	320,500		Datasonic Group BHD		98
	22,618		Daum Communications		2,349
	153,494	*	DealerTrack Holdings, Inc		5,913
	25,785	*	Demand Media, Inc		147
	80,972	*,e	Demandware, Inc		4,931
	139,300	e	Dena Co Ltd		2,727
	76,428	*	Descartes Systems Group, Inc		1,153
	181,118		DH Corp		5,533
	123,641	*	Dice Holdings, Inc		1,103
	29,500		Digital Garage, Inc		451
	55,909	*,e	Diligent Board Member Services		225
	10,100		Dip Corp		655
	17,725	e	DMRC Corp		389
	79,694		DST Systems, Inc		8,823
	46,800		DTS Corp		895
	17,143		DuzonBIzon Co Ltd		197
	691,737		EarthLink Holdings Corp		3,071
	3,741,888	*	eBay, Inc		215,832
	98,385	e	Ebix, Inc		2,989
	24,655		eClerx Services Ltd		625

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	136,443	e	Econocom Group	$	1,082
	1,498,223	*	Electronic Arts, Inc		88,118
	192,565	e	Elektrobit Oyj		808
	74,927	*	Ellie Mae, Inc		4,144
	200,973		Ementor ASA		2,264
	82,378	*,e	Endurance International Group Holdings, Inc		1,570
	136,466	*,e	EnerNOC, Inc		1,556
	4,651		Engineering Ingegneria Informatica S.p.A.		284
	153,206	*,e	Envestnet, Inc		8,592
	78,132		EOH Holdings Ltd		1,024
	226,836	*	EPAM Systems, Inc		13,903
	106,304		EPIQ Systems, Inc		1,906
	17,776	*	ePlus, Inc		1,545
	121,194		Equinix, Inc		28,220
	136,131	*	Euronet Worldwide, Inc		7,998
	268,422		EVERTEC, Inc		5,868
	20,575	*	Everyday Health, Inc		265
	160,861	*	ExlService Holdings, Inc		5,984
	32,500	e	F@N Communications, Inc		276
	7,794,518	*	Facebook, Inc		640,826
	145,566	e	Factset Research Systems, Inc		23,174
	135,745		Fair Isaac Corp		12,043
	777,781		Fidelity National Information Services, Inc		52,936
	58,537		Fidessa Group plc		1,916
	373,458	*,e	FireEye, Inc		14,658
	147,479	*	First American Corp		5,202
	750,612	*	Fiserv, Inc		59,599
	34,311	*,e	Five9, Inc		191
	492,199	*	FleetCor Technologies, Inc		74,283
	100,983	*,e	FleetMatics Group plc		4,529
	29,562		Forrester Research, Inc		1,087
	1,549,663	*	Fortinet, Inc		54,161
	90,436		F-Secure Oyj		262
	62,400		FUJI SOFT, Inc		1,263
	5,188,492		Fujitsu Ltd		35,384
	20,300		Future Architect, Inc		123
	13,489	*	GameHi Co Ltd		206
	78,113	*,e	GameLoft		403
	4,650	*	Gamevil, Inc		506
	210,938	*	Gartner, Inc		17,687
	488,172	*	Genpact Ltd		11,350
	89,570	*,e	Gigamon, Inc		1,902
	220,465	*	Global Cash Access, Inc		1,680
	332,630		Global Payments, Inc		30,496
	63,645	*,e	Global Sources Ltd		373
	7,548	*,e	Globant S.A.		159
	972,141	*,e	Globo plc		728
	256,184	*,e	Glu Mobile, Inc		1,283
	66,100		GMO internet, Inc		812
	220,300	e	GMO Payment Gateway, Inc		5,201
	156,818	*,e	Gogo, Inc		2,989

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	20,026	m	Golfzon Co Ltd	$	540
	1,232,161	*	Google, Inc		675,224
	969,163	*	Google, Inc (Class A)		537,595
	28,000		Gourmet Navigator, Inc		547
	650,000	*	Gravity Co Ltd (ADR)		312
	148,900	*,e	Gree, Inc		1,036
	213,174	*	GrubHub, Inc		9,676
	42,196	*	GTT Communications, Inc		797
	56,041	*,e	Guidance Software, Inc		303
	284,701	*	Guidewire Software, Inc		14,978
	870,314	e	GungHo Online Entertainment Inc		3,400
	14,502		Haansoft, Inc		239
	87,134		Hackett Group, Inc		779
	270,000	*,e	HC International, Inc		286
	730,028		HCL Technologies Ltd		11,404
	99,558		Heartland Payment Systems, Inc		4,664
	256,875		Hexaware Technologies Ltd		1,282
	1,623,000	*	Hi Sun Technology China Ltd		586
	99,964	*	Higher One Holdings, Inc		242
	53,273		HIQ International AB		271
	231,944	*	HomeAway, Inc		6,998
	85,120	*,e	Hortonworks, Inc		2,029
	15,436	*,e	HubSpot, Inc		616
	344,648		IAC/InterActiveCorp		23,253
	144,443	*	iGate Corp		6,162
	2,559,000	e	IGG, Inc		1,493
	80,588	*	Imperva, Inc		3,441
	98,925	e	Indra Sistemas S.A.		1,160
	21,982		Industrial & Financial Systems		717
	540,600		Ines Corp		4,089
	46,112		Info Edge India Ltd		619
	313,308	*	Infoblox, Inc		7,479
	1,149,700		Infomart Corp		10,526
	222,622	*	Informatica Corp		9,763
	148,570		Information Services Group, Inc		593
	27,200		Information Services International-Dentsu Ltd		261
	1,566,091		Infosys Technologies Ltd		55,109
	5,918		Init Innovation In Traffic Sys		145
	1,293,140		Innovation Group plc		541
	47,576	*,e	Interactive Intelligence, Inc		1,959
	194,296	*	Internap Network Services Corp		1,988
	2,920,135		International Business Machines Corp		468,682
	52,000		International Games System Co Ltd		208
	30,400	e	Internet Initiative Japan, Inc		503
	1,166,385		Intuit, Inc		113,093
	97,855	*,e	iProperty Group Ltd		208
	276,069		Iress Market Technology Ltd		2,202
	146,040		iSentia Group Ltd		406
	75,460		IT Holdings Corp		1,376
	38,022		Itochu Techno-Science Corp		789
	129,112	e	j2 Global, Inc		8,480
	186,583		Jack Henry & Associates, Inc		13,040

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,678	*	JCEntertainment Corp	$	175
	119,147	*	Jive Software, Inc		611
	3,139	*	Joymax Co Ltd		81
	19,881		Just Dial Ltd		420
	2,393,227	*,e	Just Eat plc		15,478
	34,300	*,e	Justsystems Corp		210
	427,120	e	Kakaku.com, Inc		7,088
	13,674		Kginicis Co Ltd		280
	11,453		KGMobilians Co Ltd		178
	238,000	e	King Digital Entertainment plc		3,818
	1,644,000	*,e	Kingdee International Software Group Co Ltd		688
	855,865	e	Kingsoft Corp Ltd		2,507
	29,600	*,e	KLab, Inc		339
	77,472	*	Knot, Inc		1,369
	248,807	*	Kofax Ltd		2,724
	494,668		Konami Corp		9,254
	288,448		KPIT Cummins Infosystems Ltd		869
	9,356	*	KT Hitel Co Ltd		122
	241,834		Leidos Holdings, Inc		10,147
	467,746	*,e	LendingClub Corp		9,191
	217,289	*	Limelight Networks, Inc		789
	430,304	*	LinkedIn Corp		107,516
	129,400		Linx S.A.		1,893
	171,155	*	Lionbridge Technologies		979
	85,722	*,e	Liquidity Services, Inc		847
	202,718	*	Liveperson, Inc		2,075
	79,310	*	LogMeIn, Inc		4,441
	56,162	*	Luxoft Holding, Inc		2,906
	52,286	*,e	magicJack VocalTec Ltd		358
	469,373	*	Manhattan Associates, Inc		23,755
	150,155		Mantech International Corp (Class A)		5,096
	195,016		Marchex, Inc (Class B)		796
	70,804	*,e	Marin Software, Inc		445
	70,927	*,e	Marketo, Inc		1,817
	28,500	e	Marvelous AQL, Inc		399
	4,831,365		Mastercard, Inc (Class A)		417,382
	27,722		Matrix IT Ltd		139
	35,250	*	Mavenir Systems, Inc		625
	349,575		MAXIMUS, Inc		23,338
	323,723		Mentor Graphics Corp		7,779
	13,612	e	Mercadolibre, Inc		1,668
	266,787		Micro Focus International plc		4,674
	27,034,975		Microsoft Corp		1,099,107
	175,375	*	MicroStrategy, Inc (Class A)		29,672
	252,426	*,e	Millennial Media, Inc		366
	94,881		MindTree Ltd		1,978
	15,800		Mitsubishi Research Institute, Inc		360
	167,530	e	Mixi Inc		6,772
	33,350	*,e	MobileIron, Inc		309
	56,902	*	Model N, Inc		681
	131,891	*,e	ModusLink Global Solutions, Inc		508
	102,470	*	MoneyGram International, Inc		885

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,048,684		Moneysupermarket.com Group plc	$	4,178
	1,879,994	*,e	Monitise plc		363
	1,884,840		Mono Technology PCL		224
	127,005		Monotype Imaging Holdings, Inc		4,145
	319,796	*,e	Monster Worldwide, Inc		2,028
	139,824		Mphasis Ltd		861
	423,900		My EG Services BHD		318
	73,094	*,e	Myriad Group AG.		323
	664,000	*,e	National Agricultural Holdings Ltd		199
	34,508		Naver Corp		20,819
	31,684		NCsoft		5,174
	22,500		NEC Networks & System Integration Corp		453
	14,529		Nemetschek AG.		1,879
	12,443	*	Neowiz Games Corp		262
	34,139	e	Net Entertainment NE AB		1,172
	580,100	e	NET One Systems Co Ltd		3,959
	144,500	e	NetDragon Websoft, Inc		317
	43,500	e	Netease.com (ADR)		4,581
	146,392	*,e	Netscout Systems, Inc		6,419
	55,921	*,e	NetSuite, Inc		5,187
	155,307	*,e	NeuStar, Inc (Class A)		3,824
	11,272	*	New Relic, Inc		391
	510,164		Nexon Co Ltd		5,433
	174,040	*,e	NEXTDC Ltd		341
	20,467	*	NHN Entertainment Corp		1,315
	307,144	e	NIC, Inc		5,427
	71,209		Nice Systems Ltd		4,346
	9,800		NIFTY Corp		111
	264,700		Nihon Unisys Ltd		2,506
	56,041		NIIT Technologies Ltd		313
	136,719		Nintendo Co Ltd		20,060
	34,300	e	Nippon System Development Co Ltd		506
	116,900		Nomura Research Institute Ltd		4,392
	25,600		NS Solutions Corp		789
	225,151		NTT Data Corp		9,779
	426,547	*	Nuance Communications, Inc		6,121
	9,900		OBIC Business Consultants Ltd		341
	70,400		Obic Co Ltd		2,985
	151,093	e	Open Text Corp		7,976
	123,695	e	Opera Software ASA		992
	24,022	*,e	OPOWER, Inc		243
	694,679	*,e	Optimal Payments plc		5,419
	14,456,322		Oracle Corp		623,790
	39,649		Oracle Corp Japan		1,706
	104,899		Otsuka Corp		4,470
	181,000	*	Ourgame International Holdings Ltd		89
	817,700	e	Pacific Online		343
	460,938	*,e	Pandora Media, Inc		7,472
	29,712	*,e	Park City Group, Inc		409
	750,505		Paychex, Inc		37,236
	23,380	*,e	Paycom Software, Inc		750
	62,713		PC Home Online		814

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	263,000	e	PCA Corp	$	3,772
	176,131		Pegasystems, Inc		3,831
	101,696	*	Perficient, Inc		2,104
	705,214		Playtech Ltd		8,112
	168,396		Polaris Software Lab Ltd		445
	43,790		POSDATA Co Ltd		222
	106,938	*,e	PRGX Global, Inc		430
	176,463	*	Progress Software Corp		4,794
	102,999	*,e	Proofpoint, Inc		6,100
	65,189	*,e	PROS Holdings, Inc		1,611
	593,713	*	PTC, Inc		21,475
	27,053	*,e	Q2 Holdings, Inc		572
	18,832		QAD, Inc (Class A)		456
	588,338	*	QLIK Technologies, Inc		18,315
	120,556	*,e	Qualys, Inc		5,603
	388,521	e	Quindell plc		778
	129,605	*,e	QuinStreet, Inc		771
	478,746	*	Rackspace Hosting, Inc		24,699
	65,127	*	Rally Software Development Corp		1,022
	87,275	*	RealNetworks, Inc		587
	140,461	*,e	RealPage, Inc		2,829
	575,659	*	Red Hat, Inc		43,606
	98,177	*,e	Redknee Solutions, Inc		347
	30,264		Reis, Inc		776
	10,690		Reply S.p.A.		1,044
	133,827	*,e	RetailMeNot, Inc		2,410
	24,863	e	RIB Software AG.		348
	28,976	*,e	Rightside Group Ltd		294
	52,369	*,e	Rocket Fuel, Inc		482
	76,451	*,e	Rosetta Stone, Inc		582
	297,388	*	Rovi Corp		5,415
	125,442	*	Rubicon Project, Inc		2,248
	186,495	e	Sabre Corp		4,532
	52,308	e	SafeCharge International Group Ltd		198
	2,034,662		Sage Group plc		14,055
	3,841,937	*	Salesforce.com, Inc		256,680
	3,608,000		Samart Corp PCL		3,321
	25,186		Samsung SDS Co Ltd		6,061
	888,001		SAP AG.		64,182
	101,346	*,e	Sapiens International Corp NV		831
	6,819		SBSi Co Ltd		98
	223,671		Science Applications International Corp		11,485
	73,687	*	Sciquest, Inc		1,248
	113,066		SDL plc		729
	108,586	*	Seachange International, Inc		852
	945,424	*	ServiceNow, Inc		74,480
	234,016	*,e	ServiceSource International LLC		725
	230,630		Shanghai Baosight Software Co Ltd		871
	46,523	*,e	Shutterstock, Inc		3,195
	101,017	*,e	Silver Spring Networks, Inc		903
	4,850,600		Silverlake Axis Ltd		4,842
	45,206	e	SimCorp AS		1,483

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	348,000		Sinosoft Technology Group Ltd	$	211
	24,415		SK C&C Co Ltd		5,112
	11,965	*	SK Communications Co Ltd		88
	20,900		SMS Co Ltd		279
	61,480		Software AG.		1,597
	87,540		Soft-World International Corp		240
	360,848	*	SolarWinds, Inc		18,490
	104,579		Solera Holdings, Inc		5,403
	173,492		Sonda S.A.		409
	39,141		Sopra Group S.A.		2,915
	203,114	*	Splunk, Inc		12,024
	44,797	*,e	SPS Commerce, Inc		3,006
	76,127		Square Enix Co Ltd		1,629
	246,796		SS&C Technologies Holdings, Inc		15,375
	51,232	*	Stamps.com, Inc		3,447
	93,542		Sumisho Computer Systems Corp		2,618
	6,884		SundayToz Corp		90
	1,524,000		SUNeVision Holdings Ltd		497
	133,944	*	Sykes Enterprises, Inc		3,329
	1,022,065		Symantec Corp		23,881
	96,714	*	Synchronoss Technologies, Inc		4,590
	276,184	*	Synopsys, Inc		12,793
	141,177	*	Syntel, Inc		7,303
	138,000		Systex Corp		251
	131,984	*	TA Indigo Holding Corp		1,365
	144,970	*	Tableau Software, Inc		13,413
	725,533	*	Take-Two Interactive Software, Inc		18,468
	108,182	*,e	Tangoe, Inc		1,493
	910,925		Tata Consultancy Services Ltd		37,175
	282,172		Tech Mahindra Ltd		2,839
	567,598	e	Technology One Ltd		1,733
	53,486	*	TechTarget, Inc		617
	213,175	e	Tecmo Koei Holdings Co Ltd		3,162
	223,910	e	Telecity Group plc		2,899
	172,837	*	TeleCommunication Systems, Inc (Class A)		662
	86,889	*	TeleNav, Inc		688
	83,994		TeleTech Holdings, Inc		2,138
	85,670		Temenos Group AG.		2,946
	11,476,652		Tencent Holdings Ltd		217,941
	495,556	*,e	Teradata Corp		21,874
	51,366	*,e	Textura Corp		1,396
	161,000	g	Tian GE Interactive Holdings Ltd		99
	134,536		Tietoenator Oyj		3,161
	305,799	*	TiVo, Inc		3,245
	604,097		Total System Services, Inc		23,046
	115,419		Totvus S.A.		1,320
	80,100	*	Trans Cosmos, Inc/Japan		1,686
	1,115,999		Travelsky Technology Ltd		1,285
	43,263	*,e	Travelzoo, Inc		417
	123,483	*,e	Tremor Video, Inc		289
	223,103		Trend Micro, Inc		7,351
	20,243	*,e	TrueCar, Inc		361

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	8,691	*,e	TubeMogul, Inc	$	120
	90,357	*,e	Tungsten Corp plc		268
	1,416,578	*	Twitter, Inc		70,942
	151,733	*	Tyler Technologies, Inc		18,288
	98,340	*	Ubisoft Entertainment		1,816
	81,738	*	Ultimate Software Group, Inc		13,892
	151,203	*	Unisys Corp		3,509
	173,889		United Internet AG.		7,893
	8,700	e	UNITED, Inc		116
	307,878	*,e	Unwired Planet, Inc		176
	669,143		UXC Ltd		402
	2,650,000	*,e	V1 Group Ltd		208
	55,770		Vakrangee Ltd		92
	591,361	*	Vantiv, Inc		22,294
	16,847	*,e	Varonis Systems, Inc		432
	132,371	*,e	Vasco Data Security International		2,851
	90,000	*,e	V-Cube, Inc		1,200
	706,538	*	VeriFone Systems, Inc		24,651
	162,222	*	Verint Systems, Inc		10,046
	379,365	*,e	VeriSign, Inc		25,406
	114,626	*,e	VirnetX Holding Corp		698
	72,126	*	Virtusa Corp		2,985
	9,389,025		Visa, Inc (Class A)		614,136
	521,600	*	VMware, Inc (Class A)		42,776
	204,873	*,e	Vringo, Inc		133
	104,400	*,e	WebMD Health Corp (Class A)		4,576
	281,988	*	Website Pros, Inc		5,344
	11,923	*	Webzen, Inc		302
	7,808	*	WeMade Entertainment Co Ltd		283
	1,207,200	e	Western Union Co		25,122
	109,736	*	WEX, Inc		11,781
	945,555		Wipro Ltd		9,506
	269,134		Wirecard AG.		11,343
	38,785	*,e	Wix.com Ltd		743
	474,986	*,e	Workday, Inc		40,094
	554,527		Xchanging plc		1,109
	65,447	*,e	Xero Ltd		1,174
	2,362,112		Xerox Corp		30,353
	6,251		XING AG.		1,076
	12,375		X-Legend Entertainment Co Ltd		65
	84,178	*,e	Xoom Corp		1,237
	52,000		XPEC Entertainment, Inc		314
	530,948	e	Yahoo! Japan Corp		2,190
	5,394,687	*	Yahoo!, Inc		239,713
	30,800	*	Yandex NV		467
	143,373	*,e	Yelp, Inc		6,789
	1,232	*,e	Yodlee, Inc		17
	60,706	*,e	YuMe, Inc		315
	32,550	*,e	Zendesk, Inc		739
	77,424	*,e	Zillow Group, Inc		7,766
	153,042	*	Zix Corp		601
	209,441	e,g	Zoopla Property Group plc		561

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	7,602,821	*,e	Zynga, Inc	$	21,668
			TOTAL SOFTWARE & SERVICES		10,254,777
TECHNOLOGY HARDWARE & EQUIPMENT - 5.4%
	249,718	*,e	3D Systems Corp		6,847
	841,221	e	AAC Technologies Holdings, Inc		5,193
	2,399,292		Accton Technology Corp		1,243
	2,682,252	*	Acer, Inc		1,728
	82,400		Adlink Technology, Inc		211
	190,281		Adtran, Inc		3,553
	30,000		Advanced Ceramic X Corp		148
	355,158		Advantech Co Ltd		2,701
	35,281	*,e	Aerohive Networks, Inc		157
	51,750	*,e	Agilysys, Inc		509
	36,900		Ai Holdings Corp		673
	11,152,541	*	Alcatel S.A.		41,928
	6,626,157	*	Alcatel-Lucent (ADR)		24,716
	54,873	e	Alliance Fiber Optic Products, Inc		956
	1,350,000		Alpha Networks, Inc		905
	409,100	e	Alps Electric Co Ltd		9,851
	62,800		Amano Corp		749
	884,332		Amphenol Corp (Class A)		52,114
	512,950		Anixter International, Inc		39,051
	137,900		Anritsu Corp		963
	2,796,000	e	Anxin-China Holdings Ltd		139
	22,312,528	n	Apple, Inc		2,776,348
	40,506	*,e	Applied Optoelectronics, Inc		562
	58,944	*,e	Arista Networks, Inc		4,157
	347,375	*	ARRIS Group, Inc		10,037
	172,646	*	Arrow Electronics, Inc		10,557
	472,330	*	Aruba Networks, Inc		11,567
	38,269		Ascom Holding AG.		657
	215,000	*	Asia Optical Co, Inc		301
	380,464		Asia Vital Components Co Ltd		351
	85,000		ASROCK, Inc		206
	2,139,262		Asustek Computer, Inc		21,506
	69,000		Aten International Co Ltd		200
	24,761,690		AU Optronics Corp		12,425
	28,908		Austria Technologie & Systemtechnik AG.		453
	36,865	*,e	Avigilon Corp		613
	317,461		Avnet, Inc		14,127
	143,886		AVX Corp		2,053
	130,263	e	Axis Communications AB		5,140
	39,603		Badger Meter, Inc		2,374
	27,264		Barco NV		1,619
	33,387		Bel Fuse, Inc (Class B)		635
	127,232		Belden CDT, Inc		11,904
	42,000		Bematech S.A.		128
	188,849	*	Benchmark Electronics, Inc		4,538
	1,710,000	*	Benq Corp		776
	1,056,000		BenQ Materials Corp		1,030
	53,366		Black Box Corp		1,117

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	841,628	*,e	Blackberry Ltd (New)	$	7,502
	817,000		Boardtek Electronics Corp		1,484
	2,399,866		Brocade Communications Systems, Inc		28,474
	621,877		Brother Industries Ltd		9,880
	2,256,000		BYD Electronic International Co Ltd		2,850
	169,368	*,e	CalAmp Corp		2,742
	6,293,928		CalComp Electronics Thailand PCL		790
	158,346	*	Calix Networks, Inc		1,329
	18,800	*	Canon Electronics, Inc		381
	2,458,415		Canon, Inc		86,982
	323,000		Career Technology Co Ltd		329
	2,149,853		Catcher Technology Co Ltd		22,484
	266,000	*	Catic Shenzhen Holdings Ltd		201
	173,453		CDW Corp		6,459
	375,866	*	Celestica, Inc		4,173
	141,135		Checkpoint Systems, Inc		1,527
	1,502,402		Cheng Uei Precision Industry Co Ltd		2,783
	1,538,232		Chicony Electronics Co Ltd		4,304
	1,201,663		Chimei Materials Technology Corp		1,310
	1,830,000	e	China Aerospace International Holdings Ltd		240
	474,000	e	China All Access Holdings Ltd		177
	1,228,000		China Fiber Optic Network System Group Ltd		332
	3,760,000	*,e	China Innovationpay Group Ltd		306
	336,206		China ITS Holdings Co Ltd		43
	1,265,000		Chin-Poon Industrial Co		2,551
	264,840		Chroma ATE, Inc		657
	2,781,174	*	Ciena Corp		53,704
	22,523,010		Cisco Systems, Inc		619,946
	976,545		Citizen Watch Co Ltd		7,485
	31,056	*,e	Clearfield, Inc		460
	398,423		Clevo Co		619
	1,742,000	*	CMC Magnetics Corp		233
	350,325	*	Cognex Corp		17,373
	102,863	*	Coherent, Inc		6,682
	928,278	e	Comba Telecom Systems Holdings Ltd		278
	1,817		Comet Holding AG.		1,464
	163,438	*	CommScope Holding Co, Inc		4,665
	4,115,021		Compal Electronics, Inc		3,419
	5,829,000		Compeq Manufacturing Co		3,756
	52,342		Comtech Telecommunications Corp		1,515
	33,629	*,e	Control4 Corp		403
	3,196,000		Coolpad Group Ltd		557
	1,210,500		Coretronic Corp		1,856
	4,507,405		Corning, Inc		102,228
	856,000		Coxon Precise Industrial Co Ltd		2,029
	110,061	*	Cray, Inc		3,091
	17,912	*	CrucialTec Co Ltd		192
	114,882		CTS Corp		2,067
	68,427	*,e	CUI Global, Inc		401
	204,000		CyberTAN Technology, Inc		153
	122,990		Daeduck Electronics Co		1,065
	108,901		Daeduck GDS Co Ltd		1,335

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	778,000		Daiwabo Co Ltd	$	1,250
	158,163		Daktronics, Inc		1,710
	48,504		Datalogic S.p.A.		557
	172,951		DataTec Ltd		856
	87,300		Delta Electronics Thai PCL		202
	1,868,951		Delta Electronics, Inc		11,777
	205,000		Denki Kogyo Co Ltd		973
	33,094	e	Dialight plc		373
	125,795		Diebold, Inc		4,461
	96,138	*	Digi International, Inc		959
	2,093,000	e	Digital China Holdings Ltd		2,286
	17,611		Digital Multimedia Technologies S.p.A.		939
	220,918		Diploma plc		2,627
	1,377,240		D-Link Corp		742
	83,880		Dolby Laboratories, Inc (Class A)		3,201
	218,005		Domino Printing Sciences		3,024
	155,002	*	Dot Hill Systems Corp		822
	53,649	*	DTS, Inc		1,828
	633,000		Dynapack International Technology Corp		1,555
	247,600		Eastern Communications Co Ltd		163
	59,894	*,e	Eastman Kodak Co		1,137
	212,982	*	EchoStar Corp (Class A)		11,015
	60,871		Eizo Nanao Corp		1,332
	24,400	e	Elecom Co Ltd		507
	61,686		Electro Rent Corp		700
	86,353		Electro Scientific Industries, Inc		534
	1,046,602	e	Electrocomponents plc		3,741
	131,031	*	Electronics for Imaging, Inc		5,471
	27,800		Elematec Corp		684
	1,593,654		Elite Material Co Ltd		2,729
	1,653,324		Elitegroup Computer Systems Co Ltd		1,725
	6,464,328		EMC Corp		165,228
	255,189	*	Emulex Corp		2,034
	35,000		Ennoconn Corp		317
	10,400		Enplas Corp		416
	6,540,034		Ericsson (LM) (B Shares)		82,110
	78,097		Esprinet S.p.A.		703
	13,464		EVS Broadcast Equipment S.A.		501
	358,312	*,e	Extreme Networks, Inc		1,132
	892,709	*	F5 Networks, Inc		102,608
	119,541	*	Fabrinet		2,270
	95,123	*	FARO Technologies, Inc		5,910
	167,810		FEI Co		12,811
	2,761,000	*	FIH Mobile Ltd		1,464
	47,920	*,e	Fingerprint Cards AB		295
	286,102	*,e	Finisar Corp		6,105
	161,110		Firich Enterprises Co Ltd		548
	197,628		FLEXium Interconnect, Inc		568
	5,782	*	Flextronics International Ltd		73
	335,748		Flir Systems, Inc		10,502
	89,854		Flytech Technology Co Ltd		364
	825,751		Foxconn Technology Co Ltd		2,214

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,647,181		Fujifilm Holdings Corp	$	58,601
	2,720,000	*,e	GCL New Energy Holdings Ltd		343
	70,395		Gemalto NV		5,609
	335,913		Gemtek Technology Corp		247
	63,909	*	Genius Electronic Optical Co Ltd		219
	44,677		GeoVision, Inc		168
	1,767,000		Getac Technology Corp		1,082
	1,904,000		Gigabyte Technology Co Ltd		2,355
	214,000	e	Goldpac Group Ltd		126
	6,212	*	Green Cross Cell Corp		239
	3,323,400	*,e	GSH Corp Ltd		179
	108,422	*	GSI Group, Inc		1,444
	975,838		Halma plc		10,083
	31,276		Hamamatsu Photonics KK		943
	5,944,770		HannStar Display Corp		1,299
	372,250	*	Harmonic, Inc		2,758
	195,135		Harris Corp		15,369
	8,695,720		Hewlett-Packard Co		270,959
	113,917		Hexagon AB (B Shares)		4,045
	690,725		High Tech Computer Corp		3,074
	481,949	e	Hills Ltd		318
	8,824		Hirose Electric Co Ltd		1,136
	84,046		Hitachi High-Technologies Corp		2,558
	247,000		Hitachi Kokusai Electric, Inc		3,309
	10,957,098		Hitachi Ltd		74,835
	552,000		Hitachi Maxell Ltd		9,555
	570,100		Holystone Enterprise Co Ltd		812
	19,751,812		Hon Hai Precision Industry Co, Ltd		57,816
	54,395		Horiba Ltd		2,078
	210,200		Hosiden Corp		1,160
	528,336		Hoya Corp		21,152
	86,481		Humax Co Ltd		1,215
	46,100		Ibiden Co Ltd		777
	311,000		Ichia Technologies, Inc		306
	7,800		Icom, Inc		187
	200,476		ICP Electronics, Inc		345
	15,645	*	Iljin Materials Co Ltd		122
	141,429	*	Immersion Corp		1,298
	284,512		Inari Amertron BHD		254
	1,720		Inficon Holding AG.		615
	345,407	*,e	Infinera Corp		6,794
	70,145	e	Ingenico		7,694
	291,785	*	Ingram Micro, Inc (Class A)		7,330
	7,709,288		InnoLux Display Corp		3,841
	138,711	*	Insight Enterprises, Inc		3,956
	103,290	e	InterDigital, Inc		5,241
	81,374	*,e	Intevac, Inc		500
	188,188	*,e	InvenSense, Inc		2,862
	8,914,349		Inventec Co Ltd		6,438
	58,482	*,e	IPG Photonics Corp		5,421
	11,600		Iriso Electronics Co Ltd		812
	59,000		ITC Networks Corp		532

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	715,357		ITEQ Corp	$	566
	132,791	*	Itron, Inc		4,848
	29,226		Ituran Location and Control Ltd		643
	194,564	*	Ixia		2,360
	936,699		Jabil Circuit, Inc		21,900
	131,493		Japan Aviation Electronics Industry Ltd		3,175
	14,200	e	Japan Cash Machine Co Ltd		205
	69,200		Japan Digital Laboratory Co Ltd		910
	715,131	*,e	Japan Display, Inc		2,551
	49,535		Japan Radio Co Ltd		167
	1,438,400		JCY International BHD		273
	2,519,893	*	JDS Uniphase Corp		33,061
	92,943		Jenoptik AG.		1,251
	62,700		Jentech Precision Industrial Co Ltd		143
	2,753,000	e	Ju Teng International Holdings Ltd		1,605
	1,575,344		Juniper Networks, Inc		35,571
	16,800		Kaga Electronics Co Ltd		205
	12,200		Kanematsu Electronics Ltd		181
	4,302		Kapsch TrafficCom AG.		110
	280,600		KCE Electronics PCL		457
	149,477	*	Kemet Corp		619
	25,603		Keyence Corp		13,971
	660,524	*	Keysight Technologies, Inc		24,538
	50,129		KH Vatec Co Ltd		1,445
	87,287	*	Kimball Electronics, Inc		1,234
	1,443,550		Kingboard Chemical Holdings Ltd		2,285
	1,754,000	e	Kingboard Laminates Holdings Ltd		712
	288,652	*,e	Knowles Corp		5,562
	81,300		Koa Corp		790
	10,832		KONA I Co Ltd		296
	717,309		Konica Minolta Holdings, Inc		7,269
	108,097		Kudelski S.A.		1,326
	46,494	*	KVH Industries, Inc		703
	232,810		Kyocera Corp		12,724
	343,654		Laird Group plc		1,707
	267,892		Largan Precision Co Ltd		23,030
	11,803,323	e	Lenovo Group Ltd		17,200
	220,817		Lexmark International, Inc (Class A)		9,349
	12,700		LG Innotek Co Ltd		1,327
	228,507		LG.Philips LCD Co Ltd		6,467
	4,931,046		Lite-On Technology Corp		6,379
	88,645		Littelfuse, Inc		8,810
	388,036		Logitech International S.A.		5,110
	69,000		Lotes Co Ltd		306
	808,000		Loxley PCL		103
	23,867	e	LPKF Laser & Electronics AG.		266
	60,575		Lumax International Corp Ltd		120
	11,500	m	Macnica, Inc		367
	145,000		Marubun Corp		957
	8,400		Maruwa Co Ltd		199
	79,539	*,e	Maxwell Technologies, Inc		641
	46,900	e	Melco Holdings, Inc		882

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	113,507	*	Mercury Computer Systems, Inc	$	1,765
	155,076		Merry Electronics Co Ltd		497
	7,162	e	Mesa Laboratories, Inc		517
	180,804		Methode Electronics, Inc		8,505
	3,715,000		Micro-Star International Co Ltd		4,399
	152,000		MIN AIK Technology Co Ltd		569
	464,500		Mitac Holdings Corp		360
	288,000		Mitsumi Electric Co Ltd		2,137
	355,470		Motorola, Inc		23,699
	40,553		MTS Systems Corp		3,068
	33,792	*	Multi-Fineline Electronix, Inc		617
	433,136		Murata Manufacturing Co Ltd		59,487
	204,000	*	Nan Ya Printed Circuit Board Corp		334
	196,000		Nanjing Panda Electronics		197
	232,497		National Instruments Corp		7,449
	363,668	*	NCR Corp		10,732
	1,619,382		NEC Corp		4,757
	35,100	e	Neopost S.A.		1,930
	1,081,437		NetApp, Inc		38,348
	126,013	*	Netgear, Inc		4,143
	158,310	*	Newport Corp		3,017
	278,026		Nichicon Corp		2,591
	27,352	*,e	Nimble Storage, Inc		610
	16,800	e	Nippon Ceramic Co Ltd		232
	262,000	*	Nippon Chemi-Con Corp		771
	1,290,141		Nippon Electric Glass Co Ltd		6,305
	121,500		Nippon Signal Co Ltd		1,185
	62,300		Nohmi Bosai Ltd		768
	1,230,618		Nokia Corp		9,328
	7,630,523		Nokia Oyj		58,181
	47,394		Nolato AB (B Shares)		1,143
	45,339	*	Numerex Corp		517
	346,194	*,e	Oclaro, Inc		685
	1,209,000		Oki Electric Industry Co Ltd		2,503
	635,956		Omron Corp		28,649
	188,632	e	Opus Group AB		193
	20,959	*,e	Opus Group AB (BTA)		21
	93,208	*	OSI Systems, Inc		6,922
	56,545		Oxford Instruments plc		698
	494,644		Pace plc		2,523
	598,322	*	Palo Alto Networks, Inc		87,403
	352,224		Pan-International Industrial		207
	70,456		Park Electrochemical Corp		1,519
	273,170	*,e	Parkervision, Inc		227
	8,134	*,e	Parrot S.A.		181
	472,967		Partron Co Ltd		6,080
	9,361,700	*	PAX Global Technology Ltd		9,791
	32,182		PC Connection, Inc		840
	9,347,324		Pegatron Technology Corp		25,219
	166,524		Plantronics, Inc		8,817
	107,929	*	Plexus Corp		4,400
	575,880	*	Polycom, Inc		7,717

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	38,240		Posiflex Technology, Inc	$	195
	864,411		Premier Farnell plc		2,373
	1,259,000		Primax Electronics Ltd		1,722
	802,100	*	Prime View International Co Ltd		369
	69,109	*,e	Procera Networks, Inc		649
	112,741	*	PS IT Infrastructure & Service Ltd		100
	4,230,700	*	PT Agis Tbk		149
	1,307,000		PT Erajaya Swasembada Tbk		87
	302,130	*	QLogic Corp		4,453
	3,907,179		Qualcomm, Inc		270,924
	2,728,217		Quanta Computer, Inc		6,585
	1,238,000		Quanta Storage, Inc		1,353
	700,055	*,e	Quantum Corp		1,120
	110,653	*,e	RealD, Inc		1,415
	465,159		Redington India Ltd		976
	82,870		Renishaw plc		3,002
	330,511		Ricoh Co Ltd		3,594
	56,200		Riso Kagaku Corp		926
	2,169,000	*	Ritek Corp		228
	311,024	*	Riverbed Technology, Inc		6,504
	92,710	*	Rofin-Sinar Technologies, Inc		2,246
	71,018	*	Rogers Corp		5,838
	10,400		Roland DG Corp		281
	288,339	*	Ruckus Wireless, Inc		3,711
	29,100		Ryosan Co Ltd		714
	61,100		Ryoyo Electro Corp		779
	27,659		Sam Young Electronics Co Ltd		363
	84,124		Samsung Electro-Mechanics Co Ltd		5,823
	59,824		Samsung SDI Co Ltd		7,347
	541,989		SanDisk Corp		34,481
	317,496	*	Sandvine Corp		917
	442,634	*	Sanmina Corp		10,707
	98,660	*	Scansource, Inc		4,011
	1,437,291	e	Seagate Technology, Inc		74,782
	605,148		Seiko Epson Corp		10,718
	981,000		Sercomm Corp		2,112
	9,835		SFA Engineering Corp		482
	114,800	*	Shanghai Potevio Co Ltd		110
	148,876		Shimadzu Corp		1,658
	611,017	*	ShoreTel, Inc		4,167
	32,634	*,e	Sierra Wireless, Inc		1,081
	28,400		Siix Corp		708
	92,638	*,e	Silicon Graphics International Corp		805
	263,342		Simplo Technology Co Ltd		1,324
	1,081,000		Sinbon Electronics Co Ltd		1,756
	4,825		Sindoh Co Ltd		301
	745,000	*	Sintek Photronic Corp		152
	518,000		Sirtec International Co Ltd		1,113
	218,000		SMK Corp		948
	253,974	*	Sonus Networks, Inc		2,001
	120,672		Spectris plc		3,859
	155,673	*,e	Speed Commerce, Inc		99

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	830,362		Spirent Communications plc	$	1,071
	82,026		Sterlite Technologies Ltd		72
	103,317	*,e	Stratasys Ltd		5,453
	609,000	e	Sunny Optical Technology Group Co Ltd		1,105
	93,952	*	Super Micro Computer, Inc		3,120
	9,205	*	Suprema, Inc		230
	236,086	*	SVA Electron Co Ltd		149
	98,893	*,e	Synaptics, Inc		8,041
	1,824,000	e	Synertone Communication Corp		129
	93,396		SYNNEX Corp		7,215
	1,146,402		Synnex Technology International Corp		1,547
	750,972		Taiflex Scientific Co Ltd		1,151
	1,524,577		Taiwan PCB Techvest Co Ltd		2,655
	104,303		Taiyo Yuden Co Ltd		1,521
	2,513,000	e	TCL Communication Technology Holdings Ltd		2,530
	138,090		TDK Corp		9,778
	416,333		TE Connectivity Ltd		29,818
	91,277	*,e	Tech Data Corp		5,273
	202,000	*	Technovator International Ltd		122
	89,007	*	Telit Communications plc		283
	21,180		Tessco Technologies, Inc		522
	508,095		Test Research, Inc		899
	350,773	*	Thin Film Electronics ASA		237
	24,000		Toko, Inc		69
	132,625		Tong Hsing Electronic Industries Ltd		457
	9,100,000		Tongda Group Holdings Ltd		1,385
	76,900		Topcon Corp		1,884
	130,000		Toshiba TEC Corp		857
	22,400		Toyo Corp/Chuo-ku		214
	230,003		TPK Holding Co Ltd		1,604
	1,050,000		Tpv Technology Ltd		240
	604,000		Trigiant Group Ltd		138
	540,337	*	Trimble Navigation Ltd		13,617
	1,551,932		Tripod Technology Corp		3,121
	1,724,000	e	Truly International Holdings		803
	15,000		TSC Auto ID Technology Co Ltd		123
	161,840		TT electronics plc		317
	187,776	*,e	TTM Technologies, Inc		1,692
	1,477,039		TXC Corp		1,889
	107,953	e	Ubiquiti Networks, Inc		3,190
	946,528		Unimicron Technology Corp		612
	439,937		Unitech Printed Circuit Board Corp		203
	110,784	*,e	Universal Display Corp		5,179
	624,695		Venture Corp Ltd		3,888
	114,653	*	Viasat, Inc		6,834
	15,570	*	Viasystems Group, Inc		272
	222,687	*,e	Violin Memory, Inc		840
	302,837		Vishay Intertechnology, Inc		4,185
	41,131	*	Vishay Precision Group, Inc		655
	56,371		Vivotek, Inc		172
	1,428,800		VST Holdings Ltd		513
	417,600	e	Vtech Holdings Ltd		5,958

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	144,200	e	Wacom Co Ltd	$	695
	576,000		Wah Lee Industrial Corp		1,009
	506,769	*	Walsin Technology Corp		230
	1,342,000	e	Wasion Group Holdings Ltd		1,623
	1,337,455		Western Digital Corp		121,722
	127,500	e	Wi-Lan, Inc		314
	128,043		Wincor Nixdorf AG.		6,001
	190,500	*,b,m	Wintek Corp		0	^
	4,051,424		Wistron Corp		3,438
	1,489,032		Wistron NeWeb Corp		3,417
	1,278,872		WPG Holdings Co Ltd		1,646
	1,555,064		WT Microelectronics Co Ltd		2,399
	174,710		Xaar plc		1,068
	15,750	*,m	Ya Hsin Industrial Co Ltd		0	^
	563,000		Yageo Corp		1,160
	64,893		Yamatake Corp		1,757
	78,438	e	Yaskawa Electric Corp		1,146
	45,784		Yokogawa Electric Corp		493
	424,000	*	Yunbo Digital Synergy Group Ltd		224
	139,272	*,e	Zebra Technologies Corp (Class A)		12,634
	244,507		Zhen Ding Technology Holding Ltd		796
	263,000		Zinwell Corp		270
	707,682		ZTE Corp		1,624
	1,474,000		Zyxel Communications		782
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		6,715,473
TELECOMMUNICATION SERVICES - 2.6%
	8,999	*	012 Smile.Communications Ltd		152
	287,801	*	8x8, Inc		2,417
	1,566,204		Advanced Info Service PCL (Foreign)		11,382
	170,243		AFK Sistema (GDR)		1,260
	2,792,686	*,m	Alibaba Health Information Technology Ltd		2,442
	223,801	e	Amcon Telecommunications Ltd		459
	50,433,189		America Movil S.A. de C.V. (Series L)		51,777
	249,500	e	APT Satellite Holdings Ltd		283
	1,944,000		Asia Pacific Telecom Co Ltd		887
	9,694,456		AT&T, Inc		316,524
	32,347		Atlantic Tele-Network, Inc		2,239
	116,508	*,e	Avanti Communications Group plc		387
	1,849,500	*,e	Axtel SAB de C.V.		590
	1,035,453	e	BCE, Inc		43,836
	676,153		Belgacom S.A.		23,657
	11,832,506		Bezeq Israeli Telecommunication Corp Ltd		22,034
	884,371		Bharti Airtel Ltd		5,554
	455,050		Bharti Infratel Ltd		2,799
	73,633	*,e	Boingo Wireless, Inc		555
	8,897,083		BT Group plc		57,812
	7,910,728		Cable & Wireless plc		7,134
	149,825		Cellcom Israel Ltd		723
	1,970,246		CenturyTel, Inc		68,072
	2,693,774	e	China Communications Services Corp Ltd		1,195
	11,957,390		China Mobile Hong Kong Ltd		155,833

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	14,807,618		China Telecom Corp Ltd	$	9,467
	5,477,220		China Unicom Ltd		8,338
	429,499	*,e	Chorus Ltd		915
	3,827,396		Chunghwa Telecom Co Ltd		12,232
	678,976	*	Cincinnati Bell, Inc		2,397
	1,680,000		Citic 1616 Holdings Ltd		604
	126,600		Cogent Communications Group, Inc		4,473
	524,212	*	Colt Telecom Group S.A.		1,043
	117,383	*	Com Hem Holding AB		954
	149,129	e	Consolidated Communications Holdings, Inc		3,042
	3,400,231		Deutsche Telekom AG.		62,192
	8,702,169		Digi.Com BHD		14,792
	150,776		Drillisch AG.		5,881
	33,954	e	Elisa Oyj (Series A)		853
	115,721		Empresa Nacional de Telecomunicaciones S.A.		1,196
	57,217	*	Fairpoint Communications, Inc		1,007
	1,546,696		Far EasTone Telecommunications Co Ltd		3,731
	3,016,282		France Telecom S.A.		48,440
	285,446		Freenet AG.		8,578
	4,316,946	e	Frontier Communications Corp		30,434
	95,561	*	General Communication, Inc (Class A)		1,506
	936,036	*,e	Globalstar, Inc		3,117
	48,905		Globe Telecom, Inc		2,200
	44,318	*	Hawaiian Telcom Holdco, Inc		1,180
	571,925	*	Hellenic Telecommunications Organization S.A.		5,066
	2,331,127		HKT Trust and HKT Ltd		3,004
	3,614,651	e	Hutchison Telecommunications Hong Kong Holdings Ltd		1,674
	1,503,547		Idea Cellular Ltd		4,417
	84,539		IDT Corp (Class B)		1,501
	142,716	e	iiNET Ltd		958
	27,226		Iliad S.A.		6,361
	169,825	*,e	inContact, Inc		1,851
	198,982		Inmarsat plc		2,725
	157,797		Inteliquent, Inc		2,484
	149,412	*,e	Intelsat S.A.		1,793
	276,101	*,e	Iridium Communications, Inc		2,681
	116,700	*,e	Japan Communications, Inc		480
	1,998,775		Jaymart PCL		645
	221,301	*	Jazztel plc		3,016
	1,089,991		Kcom Group plc		1,472
	1,783,155		KDDI Corp		40,286
	33,706		KT Corp		881
	257,812	*,e,m	Let’s GOWEX S.A.		3
	2,435,189	*	Level 3 Communications, Inc		131,111
	236,589		LG Telecom Ltd		2,344
	54,901		Lumos Networks Corp		838
	443,118	e	M2 Telecommunications Group Ltd		3,415
	1,235,300	*	Magyar Telekom		1,818
	96,001	e	Manitoba Telecom Services, Inc		1,820
	4,026,349		Maxis BHD		7,804
	199,761		MegaFon OAO (GDR)		3,179
	458,466	*	Midas S.A.		74

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	55,371		Millicom International Cellular S.A.	$	4,004
	571,382		Mobile TeleSystems (ADR)		5,771
	366,909		MobileOne Ltd		1,041
	29,936	*	Mobistar S.A.		650
	2,413,721	e	MTN Group Ltd		40,688
	635,642		Netia S.A.		990
	961,206		Nippon Telegraph & Telephone Corp		59,336
	60,369	e	NTELOS Holdings Corp		290
	2,873,051		NTT DoCoMo, Inc		50,209
	284,887		Oi S.A. (Preference)		458
	83,606		Ooredoo QSC		2,276
	4,454,491	*	Orascom Telecom Holding SAE		1,954
	2,849,646	*	Orascom Telecom Media And Technology Holding SAE		425
	143,995	*,e	Orbcomm, Inc		860
	84,393	*	Partner Communications		234
	9,743,932		PCCW Ltd		5,954
	100,756		Philippine Long Distance Telephone Co		6,409
	618,076	e	Portugal Telecom SGPS S.A.		347
	155,582	*	Premiere Global Services, Inc		1,487
	2,760,990		PT Excelcomindo Pratama		917
	2,648,700		PT Indosat Tbk		864
	66,884,724		PT Telekomunikasi Indonesia Persero Tbk		14,748
	99,783	e	QSC AG.		209
	943,401		Reliance Communication Ventures Ltd		894
	171,266	*,e	RingCentral, Inc		2,625
	1,015,844	e	Rogers Communications, Inc (Class B)		34,007
	141,971		Rostelecom (ADR)		1,123
	1,980,714		Royal KPN NV		6,714
	345,000		Samart Telcoms PCL		265
	542,182	*	SBA Communications Corp (Class A)		63,489
	66,707		Shenandoah Telecom Co		2,079
	16,996,073		Singapore Telecommunications Ltd		54,235
	142,696	*	SK Broadband Co Ltd		585
	73,489		SK Telecom Co Ltd		18,083
	1,292,666		SmarTone Telecommunications Holding Ltd		2,469
	1,277,158		Softbank Corp		74,381
	72,640		Spok Holdings, Inc		1,392
	1,373,820	*,e	Sprint Corp		6,512
	480,724		StarHub Ltd		1,524
	17,405		Swisscom AG.		10,093
	1,712,754		Taiwan Mobile Co Ltd		5,988
	532,171	e	TalkTalk Telecom Group plc		2,711
	4,152,729		TDC AS		29,754
	171,086		Tele2 AB		2,046
	9,203,748		Telecom Corp of New Zealand Ltd		20,469
	702,623		Telecom Egypt		1,030
	10,936,320		Telecom Italia RSP		10,284
	7,673,436	*,e	Telecom Italia S.p.A.		8,985
	616,302		Telefonica Brasil S.A.		9,555
	506,902		Telefonica Deutschland Holding AG.		2,915
	190,330		Telefonica O2 Czech Republic AS		1,523

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	5,368,376		Telefonica S.A.	$	76,389
	769		Telekom Austria AG.		5
	4,275,184		Telekom Malaysia BHD		8,370
	1,899,165		Telekomunikacja Polska S.A.		4,772
	1,099,794		Telenor ASA		22,194
	693,779		Telephone & Data Systems, Inc		17,275
	2,788,399		TeliaSonera AB		17,719
	194,949	*	Telkom S.A. Ltd		1,272
	9,845,314		Telstra Corp Ltd		47,262
	380,331		TELUS Corp		12,633
	468,200		Thaicom PCL		499
	934,468		Tim Participacoes S.A.		3,115
	308,020		Time dotCom BHD		493
	2,568,367		TM International BHD		4,907
	6,063,918	*	T-Mobile US, Inc		192,166
	1,633,400		Tower Bersama Infrastructure		1,184
	1,108,676		TPG Telecom Ltd		7,697
	9,500,524	*	True Corp PCL (Foreign)		3,640
	2,050,672		Turk Telekomunikasyon AS		5,437
	1,357,971	*	Turkcell Iletisim Hizmet AS		6,965
	73,878		US Cellular Corp		2,639
	14,904,951		Verizon Communications, Inc		724,828
	136,269		Verizon Communications, Inc (New)		6,639
	84,240	e	Vocus Communications Ltd		376
	392,622	e	Vodacom Group Pty Ltd		4,289
	50,845,474		Vodafone Group plc		166,383
	769,644		Vodafone Group plc (ADR)		25,152
	867,769		Vodafone Qatar		4,204
	944,500	*,e	Vonage Holdings Corp		4,637
	3,673,519	e	Windstream Holdings, Inc		27,184
	6,400	e	WirelessGate, Inc		171
	169,563	*,e	Zayo Group Holdings, Inc		4,741
			TOTAL TELECOMMUNICATION SERVICES		3,223,364
TRANSPORTATION - 2.8%
	791,089		Abertis Infraestructuras S.A. (Continuous)		14,299
	334,377		Aegean Airlines S.A.		2,671
	53,339	*,g	Aena S.A.		5,363
	124,947		Aeroports de Paris		14,934
	7,161,556		Air Arabia PJSC		2,761
	40,000	*	Air Canada		391
	2,429,807		Air China Ltd		2,479
	136,937	*,e	Air France-KLM		1,204
	1,677,212	e	Air New Zealand Ltd		3,411
	174,356	*	Air Transport Services Group, Inc		1,608
	4,066,980		AirAsia BHD		2,614
	903,100	*	AirAsia X BHD		112
	219,400		Airports of Thailand PCL (ADR)		1,885
	734,900		Airports of Thailand PCL (Foreign)		6,316
	13,094	*	AJ Rent A Car Co Ltd		179
	700,545		Alaska Air Group, Inc		46,362
	485,399		All America Latina Logistica S.A.		604

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	587,567	e	All Nippon Airways Co Ltd	$	1,573
	37,377		Allegiant Travel Co		7,187
	33,556		Amerco, Inc		11,087
	2,679,752		American Airlines Group, Inc		141,437
	112,023	e	American Shipping ASA		464
	634,771	*,b,m	AMR Corp (Escrow)		6
	1,202,000	e	Anhui Expressway Co		834
	2,330,092		Ansaldo STS S.p.A.		23,609
	11,959	e	AP Moller - Maersk AS (Class A)		24,284
	21,308	e	AP Moller - Maersk AS (Class B)		44,539
	132,175		Arkansas Best Corp		5,008
	775,099		Asciano Group		3,727
	13,895,600	*	Asia Aviation PCL (ADR)		2,135
	95,085	*	Asiana Airlines		770
	84,065	*	Atlas Air Worldwide Holdings, Inc		3,616
	1,613,348		Auckland International Airport Ltd		5,419
	77,717		Autostrada Torino-Milano S.p.A.		1,102
	921,104		Autostrade S.p.A.		24,188
	943,803		Avianca Holdings S.A.		1,330
	573,796	*	Avis Budget Group, Inc		33,863
	176,564	e	Baltic Trading Ltd		263
	91,000		Bangkok Aviation Fuel Services PCL		89
	6,078,500	*	Bangkok Metro PCL		351
	453,543		BBA Aviation plc		2,264
	1,739,803		Beijing Capital International Airport Co Ltd		1,699
	809,860		Bollore		4,315
	239,879		bpost S.A.		6,732
	5,349,700		BTS Group Holdings PCL (Foreign)		1,501
	1,443,536	e	Canadian National Railway Co		96,673
	32,184		Canadian Pacific Railway Ltd		5,880
	522,798	e	Canadian Pacific Railway Ltd (Toronto)		95,722
	1,100,000	*,e	CAR, Inc		2,087
	1,301,830	e	Cathay Pacific Airways Ltd		3,012
	686,780		Cebu Air, Inc		1,306
	69,052		Celadon Group, Inc		1,880
	242,972		Central Japan Railway Co		43,910
	471,482	e	CH Robinson Worldwide, Inc		34,522
	1,737,715	*	China Airlines		891
	11,818,000	*,e	China Eastern Airlines Corp Ltd (H Shares)		7,538
	1,224,393		China Merchants Holdings International Co Ltd		4,798
	5,472,187	*,e	China Shipping Container Lines Co Ltd		1,737
	2,795,500	e	China Southern Airlines Co Ltd		2,019
	13,400,000	*,e	China Timber Resources Group Ltd		249
	73,000		Chinese Maritime Transport Ltd		75
	935,695		Cia de Concessoes Rodoviarias		4,779
	174,970		Cia de Distribucion Integral Logista Holdings SAU		3,781
	2,307,810		ComfortDelgro Corp Ltd		4,862
	13,022	e	Compagnie Maritime Belge S.A.		193
	8,556,356	*	Compania SudAmericana de Vapores S.A.		335
	28,116		Container Corp Of India Ltd		711
	362,900	*,e	Controladora Vuela Cia de Aviacion SAB de C.V.		407
	140,000	*	Controladora Vuela Cia de Aviacion SAB de C.V. (ADR)		1,560

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	599,667		Con-Way, Inc	$	26,463
	154,557	e	Copa Holdings S.A. (Class A)		15,606
	1,106,557	*	Cosan Logistica S.A.		926
	3,429,336	*,e	COSCO Holdings		1,806
	1,370,000		Cosco International Holdings Ltd		638
	4,602,046		COSCO Pacific Ltd		6,028
	301,060		Costamare, Inc		5,302
	5,118,372		CSX Corp		169,520
	558,900		CTT-Correios de Portugal S.A.		5,984
	674,900	e	CWT Ltd		760
	25,483	e	D/S Norden		543
	311,519		Dart Group plc		1,673
	436,250		Dazhong Transportation Group Co Ltd		400
	4,218,654		Delta Air Lines, Inc		189,671
	300,860		Deutsche Lufthansa AG.		4,213
	2,495,266		Deutsche Post AG.		77,740
	20,897		Dfds AS		2,219
	350,938		DP World Ltd		7,574
	406,725		DSV AS		12,641
	583,309		DX Group plc		701
	533,469		East Japan Railway Co		42,749
	1,795,658		easyJet plc		49,976
	71,646	*	Echo Global Logistics, Inc		1,953
	203,064		EcoRodovias Infraestrutura e Logistica S.A.		572
	1,389,959	*	Eva Airways Corp		1,019
	316,000		Evergreen International Storage & Transport Corp		180
	1,262,857	*	Evergreen Marine Corp Tawain Ltd		938
	180,994		Expeditors International of Washington, Inc		8,720
	1,581,283		FedEx Corp		261,623
	327,000	*	First Steamship Co Ltd		173
	1,224,210	*	Firstgroup plc		1,648
	15,737		Flughafen Wien AG.		1,370
	4,247		Flughafen Zuerich AG.		3,342
	239,018	*	Flybe Group plc		206
	133,784		Forward Air Corp		7,264
	36,746		Fraport AG. Frankfurt Airport Services Worldwide		2,195
	556,000		Freetech Road Recycling Technology Holdings Ltd		90
	313,631		Freightways Ltd		1,470
	397,000	e	Fukuyama Transporting Co Ltd		2,115
	97,196		Gateway Distriparks Ltd		639
	114,507	*	Genesee & Wyoming, Inc (Class A)		11,043
	16,167		GLOVIS Co Ltd		3,287
	106,306		Go-Ahead Group plc		3,663
	112,106	*	Gol Linhas Aereas Inteligentes S.A.		275
	2,137,098	e	Golden Ocean Group Ltd		1,359
	1,221,265		Grindrod Ltd		1,752
	873,673		Groupe Eurotunnel S.A.		12,525
	858,000	*,e	Grupo Aeromexico SAB de C.V.		1,479
	1,081,400	e	Grupo Aeroportuario del Centro Norte Sab de C.V.		5,267
	889,891		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		5,834
	215,493		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		2,903
	395,360		Guangdong Provincial Expressway Development Co Ltd		185

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	282,470	*	Gujarat Pipavav Port Ltd	$	1,094
	1,437,393	*	GVK Power & Infrastructure Ltd		219
	93,000		Hainan Meilan International Airport Co Ltd		86
	24,437		Hamburger Hafen und Logistik AG.		513
	32,907		Hanjin Kal Corp		1,059
	80,325	*	Hanjin Shipping Co Ltd		509
	58,864		Hanjin Transportation Co Ltd		3,398
	317,532		Hankyu Hanshin Holdings, Inc		1,962
	121,174	*,e	Hawaiian Holdings, Inc		2,669
	147,224	e	Heartland Express, Inc		3,498
	1,630,000		Henderson Investment Ltd		147
	3,215,896	*	Hertz Global Holdings, Inc		69,721
	83,100		Hitachi Transport System Ltd		1,257
	810,904	e	Hopewell Highway Infrastructure Ltd		386
	142,362	*	Hub Group, Inc (Class A)		5,593
	5,194,853		Hutchison Port Holdings Trust		3,606
	105,481	*	Hyundai Merchant Marine Co Ltd		859
	88,557	e	Iino Kaiun Kaisha Ltd		468
	3,930	*	Integer.pl S.A.		175
	1,213,087	*	International Consolidated Airlines Group S.A.		10,869
	3,249,026	*	International Consolidated Airlines Group S.A. (London)		28,959
	1,540,037		International Container Term Services, Inc		3,717
	18,777	e	International Shipholding Corp		227
	343,710		Irish Continental Group plc		1,534
	75,142		J.B. Hunt Transport Services, Inc		6,417
	277,131		Japan Airlines Co Ltd		8,621
	38,655		Japan Airport Terminal Co Ltd		2,338
	32,727	*	Jet Airways India Ltd		256
	909,997	*,e	JetBlue Airways Corp		17,517
	3,402,123		Jiangsu Express		4,568
	158,510		Jinzhou Port Co Ltd		81
	62,200		Julio Simoes Logistica S.A.		212
	535,587		Kamigumi Co Ltd		5,056
	83,559		Kansas City Southern Industries, Inc		8,530
	3,405,400		Kawasaki Kisen Kaisha Ltd		9,144
	397,338		Keihin Electric Express Railway Co Ltd		3,176
	493,586		Keio Corp		3,866
	80,322		Keisei Electric Railway Co Ltd		997
	730,350		Kerry Logistics Network Ltd		1,074
	1,461,179	e	Kintetsu Corp		5,361
	14,500		Kintetsu World Express, Inc		652
	150,618	*	Kirby Corp		11,304
	164,118		Knight Transportation, Inc		5,293
	124,528	e	Knightsbridge Tankers Ltd		623
	18,200		Konoike Transport Co Ltd		193
	13,741	*	Korea Express Co Ltd		2,415
	10,521	*	Korea Line Corp		215
	123,643	*	Korean Air Lines Co Ltd		5,403
	167,197		Kuehne & Nagel International AG.		24,824
	748,289		Lan Airlines S.A.		6,139
	141,630		Landstar System, Inc		9,390
	226,300	e	Latam Airlines Group S.A. (ADR)		1,824

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	152,543		Localiza Rent A Car	$	1,735
	417,322		Macquarie Atlas Roads Group		1,029
	695,642		Malaysia Airports Holdings BHD		1,315
	340,100		Malaysian Bulk Carriers BHD		111
	73,099		Marten Transport Ltd		1,696
	42,000		Maruzen Showa Unyu Co Ltd		143
	223,086		Matson, Inc		9,405
	389,879	e	Mermaid Marine Australia Ltd		195
	2,619,444		MISC BHD		5,993
	27,349		Mitsubishi Logistics Corp		426
	3,106,812		Mitsui OSK Lines Ltd		10,537
	119,610		Mitsui-Soko Co Ltd		402
	2,375,740		MTR Corp		11,300
	1,283,668		Mundra Port and Special Economic Zone Ltd		6,321
	1,341,055	e	Nagoya Railroad Co Ltd		5,355
	241,100		Namyong Terminal PCL		102
	546,000		Nankai Electric Railway Co Ltd		2,256
	593,686		National Express Group plc		2,492
	265,787		Navios Maritime Holdings, Inc		1,111
	965,000	*,e	Neptune Orient Lines Ltd		705
	670,261		Nippon Express Co Ltd		3,745
	57,500		Nippon Konpo Unyu Soko Co Ltd		1,007
	3,360,084		Nippon Yusen Kabushiki Kaisha		9,666
	343,000		Nishi-Nippon Railroad Co Ltd		1,571
	174,000		Nissin Corp		442
	529,100		Nok Airlines PCL		180
	6,820		Norbert Dentressangle		1,154
	716,762		Norfolk Southern Corp		73,769
	271,048		Northgate plc		2,376
	28,611	*,e	Norwegian Air Shuttle AS		852
	150,037	e	Odakyu Electric Railway Co Ltd		1,528
	90,906	e	Oesterreichische Post AG.		4,477
	1,917,511	*,e	OHL Mexico SAB de CV		3,647
	472,290	*	Old Dominion Freight Line		36,508
	767,000		Orient Overseas International Ltd		4,682
	1,852,290	e	Pacific Basin Shipping Ltd		612
	9,846	*	PAM Transportation Services, Inc		564
	13,265	e	Panalpina Welttransport Holding AG.		1,935
	23,024		Park-Ohio Holdings Corp		1,213
	8,115	*,e	Patriot Transportation Holding, Inc		203
	7,222		Piraeus Port Authority		87
	50,862		PKP Cargo S.A.		1,184
	714,800		Pos Malaysia & Services Holdings BHD		1,019
	341,300		Precious Shipping PCL		150
	12,753,500	*,m	PT Berlian Laju Tanker Tbk		0	^
	6,579,400		PT Cardig Aero Services Tbk		626
	4,787,300		PT Express Transindo Utama Tbk		315
	5,266,057	*	PT Garuda Indonesia Tbk		198
	4,420,102		PT Jasa Marga Tbk		2,431
	7,517,900	*	PT Nusantara Infrastructure Tbk		109
	3,912,666	*	Qantas Airways Ltd		9,280
	2,295,144		QR National Ltd		8,448

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	163,237	*	Quality Distribution, Inc	$	1,686
	1,957,328		Qube Logistics Holdings Ltd		4,411
	167,065	*	Republic Airways Holdings, Inc		2,297
	87,831	*	Roadrunner Transportation Services Holdings, Inc		2,219
	291,103		Royal Mail plc		1,888
	44,959		Ryanair Holdings plc		537
	344,479		Ryanair Holdings plc (ADR)		23,001
	1,174,529		Ryder System, Inc		111,451
	137,359		Safe Bulkers, Inc		493
	400,000		Sagami Railway Co Ltd		1,853
	77,757	*	Saia, Inc		3,445
	96	*,m	SAir Group		0	^
	415,000		Sankyu, Inc		1,805
	38,200		Santos Brasil Participacoes S.A.		131
	151,124	*,e	SAS AB		286
	469,367	*,e	Scorpio Bulkers, Inc		1,112
	4,830		Sebang Co Ltd		95
	209,700		Seino Holdings Corp		2,276
	90,000	e	Senko Co Ltd		583
	507,800		Shandong Airlines Co Ltd		885
	529,044		Shanghai Jinjiang International Investment Holdings Co		712
	141,400	*,m	Shenzhen Chiwan Petroleum		294
	335,920		Shenzhen Chiwan Wharf Holdings Ltd		690
	2,462,000		Shenzhen Expressway Co Ltd		1,928
	1,387,514		Shenzhen International Holdings Ltd		2,092
	32,000		Shibusawa Warehouse Co Ltd		91
	92,006		Shih Wei Navigation Co Ltd		54
	433,000		Shinwa Kaiun Kaisha Ltd		1,051
	1,529,097		Shun TAK Holdings Ltd		739
	2,720,000	e	Sichuan Expressway Co Ltd		1,150
	238,000		Sincere Navigation		189
	189,049		Singapore Airlines Ltd		1,646
	925,400		Singapore Airport Terminal Services Ltd		2,077
	5,527,719		Singapore Post Ltd		7,894
	1,734,000		Sinotrans Ltd		997
	1,339,500	*	Sinotrans Shipping Ltd		311
	1,690,000		SITC International Co Ltd		892
	14,194		Sixt AG.		631
	47,291		Sixt AG. (Preference)		1,687
	325,358		Skywest, Inc		4,753
	1,720,900		SMRT Corp Ltd		2,003
	8,214,099		Sociedad Matriz SAAM S.A.		658
	69,545		Societa Iniziative Autostradali e Servizi S.p.A.		809
	2,829,812		Southwest Airlines Co		125,361
	215,908	*	Spirit Airlines, Inc		16,703
	1,117,666		Stagecoach Group plc		5,780
	394,748	e	Stobart Group Ltd		609
	70,879		Stolt-Nielsen S.A.		1,089
	74,500	e	Student Transportation, Inc		404
	433,767		Sumitomo Warehouse Co Ltd		2,401
	277,525	*	Swift Transportation Co, Inc		7,221
	1,435,426		Sydney Airport		5,649

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	376,000		T.Join Transportation Co	$	468
	87,000		Taiwan Navigation Co Ltd		56
	430,587	*	TAV Havalimanlari Holding AS		3,597
	20,700		Tegma Gestao Logistica		95
	1,070,400	*	Thai Airways International PCL		355
	596,335		Thoresen Thai Agencies PCL		244
	4,810,000		Tianjin Port Development Holdings Ltd		1,036
	1,287,600	*,e	Tiger Airways Holdings Ltd		300
	140,257		TNT Express NV		891
	447,782	*	TNT NV		1,902
	784,033		Tobu Railway Co Ltd		3,715
	2,111,935		Tokyu Corp		13,066
	644,629		Toll Holdings Ltd		4,337
	62,900		TPI-Triunfo Participacoes e Investimentos S.A.		65
	7,200		Trancom Co Ltd		315
	464,334		TransForce, Inc		10,998
	1,535,450		Transurban Group		11,118
	275,894		Trencor Ltd		1,399
	993,455		Turk Hava Yollari		3,277
	1,684,658	*	UAL Corp		113,293
	78,077	*,e	Ultrapetrol Bahamas Ltd		113
	330,937		U-Ming Marine Transport Corp		489
	4,450,337		Union Pacific Corp		482,016
	1,442,606		United Parcel Service, Inc (Class B)		139,846
	20,194		Universal Truckload Services, Inc		508
	22,466	*,e	USA Truck, Inc		622
	537,452	e	UTI Worldwide, Inc		6,611
	226,527	*,e	Virgin America, Inc		6,886
	1,220,317	*	Virgin Australia Holdings Ltd		478
	67,336	*,m	Virgin Australia Int Holdings		0	^
	35,069		VTG AG.		861
	5,142,300		Wan Hai Lines Ltd		6,339
	139,267		Werner Enterprises, Inc		4,374
	158,837	*,e	Wesco Aircraft Holdings, Inc		2,433
	623,387		West Japan Railway Co		32,684
	149,575	e	Westshore Terminals Investment Corp		3,688
	70,160	e	Wilh. Wilhelmsen ASA		417
	775,787		Wisdom Marine Lines Co Ltd		969
	25,000	*,g	Wizz Air Holdings plc		515
	8,590,000		Xiamen International Port Co Ltd		2,439
	171,170	*,e	XPO Logistics, Inc		7,783
	79,766		Yamato Transport Co Ltd		1,838
	932,105	*	Yang Ming Marine Transport		536
	130,227	*,e	YRC Worldwide, Inc		2,339
	1,330,000	e	Yuexiu Transport Infrastructure Ltd		848
	52,500		Yusen Air & Sea Service Co Ltd		650
	4,330,819		Zhejiang Expressway Co Ltd		5,733
			TOTAL TRANSPORTATION		3,513,916
UTILITIES - 2.9%
	3,660,193		A2A S.p.A.		3,801
	80,037	e	Abengoa Yield plc		2,704

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,945,376		Aboitiz Power Corp	$	6,910
	26,151	*	Acciona S.A.		2,014
	136,727		ACEA S.p.A.		1,754
	303,930	e	Actelios S.p.A.		392
	1,178,000		AES Corp		15,137
	2,301,518		AES Gener S.A.		1,254
	116,333		AES Tiete S.A.		627
	348,364	*,m	AET&D Holdings No 1  Ptd Ltd		0	^
	592,961		AGL Energy Ltd		6,865
	214,001		AGL Resources, Inc		10,625
	3,353,760		Aguas Andinas S.A.		1,963
	275,162	*	Akenerji Elektrik Uretim AS		106
	189,678	*	Aksa Enerji Uretim AS		204
	190,462	e	Algonquin Power & Utilities Corp		1,408
	148,356		Allete, Inc		7,827
	150,357		Alliant Energy Corp		9,473
	69,200		Alupar Investimento S.A.		419
	697,685		Ameren Corp		29,442
	2,576,699		American Electric Power Co, Inc		144,939
	191,738		American States Water Co		7,648
	890,057		American Water Works Co, Inc		48,250
	1,622,728		APA Group		11,161
	146,036		Aqua America, Inc		3,848
	29,475		Artesian Resources Corp		631
	73,151		Ascopiave S.p.A.		186
	75,439		Atco Ltd		2,687
	83,937		Athens Water Supply & Sewage Co S.A.		480
	413,258	e	Atlantic Power Corp		1,161
	117,915	e	Atlantic Power Corp (Toronto)		331
	250,844		Atmos Energy Corp		13,872
	1,372,964		AusNet Services		1,524
	209,543		Avista Corp		7,162
	7,757,011	e	Beijing Enterprises Water Group Ltd		5,275
	15,850,000		Benpres Holdings Corp		3,032
	2,868,000		Binhai Investment Co Ltd		161
	18,353		BKW S.A.		640
	151,210		Black Hills Corp		7,627
	33,519		Boralex, Inc		351
	161,003		California Water Service Group		3,946
	1,046,908	*	Calpine Corp		23,943
	121,933		Canadian Utilities Ltd		3,829
	137,591	e	Capital Power Corp		2,663
	219,371	e	Capstone Infrastructure Corp		615
	1,885,742		Centerpoint Energy, Inc		38,488
	299,097		Centrais Eletricas Brasileiras S.A.		540
	254,079		Centrais Eletricas Brasileiras S.A. (Preference)		541
	23,900		Centrais Eletricas de Santa Catarina S.A.		142
	8,626,343		Centrica plc		32,265
	122,936		CESC Ltd		1,187
	232,711		CEZ AS		5,688
	4,781,052	*,g	CGN Power Co Ltd		2,059
	61,636		Chesapeake Utilities Corp		3,119

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	977,344		Cheung Kong Infrastructure Holdings Ltd	$	8,394
	2,517,000	e	China Datang Corp Renewable Power Co Ltd		386
	10,235,825		China Gas Holdings Ltd		16,749
	3,229,813		China Longyuan Power Group Corp		3,510
	4,420,000	e	China Oil and Gas Group Ltd		542
	12,234,000	e	China Power International Development Ltd		6,409
	3,820,000	*	China Power New Energy Development Co Ltd		246
	1,070,668	e	China Resources Gas Group Ltd		3,331
	3,227,962		China Resources Power Holdings Co		8,095
	1,248,000	*	China Ruifeng Renewable Energy Holdings Ltd		151
	423,000	*,e	China Tian Lun Gas Holdings Ltd		424
	790,000		China Water Affairs Group Ltd		378
	615,339	*	Chubu Electric Power Co, Inc		7,337
	592,852		Chugoku Electric Power Co, Inc		7,728
	363,170		Cia de Saneamento Basico do Estado de Sao Paulo		2,015
	66,765		Cia de Saneamento de Minas Gerais-COPASA		387
	20,000		Cia de Transmissao de Energia Electrica Paulista		251
	1,842,762		Cia Energetica de Minas Gerais		7,402
	749,987		Cia Energetica de Sao Paulo (Class B)		5,560
	14,904		Cia Energetica do Ceara		193
	420,371		Cia Paranaense de Energia		4,432
	177,000		CK Power PCL		91
	202,360		Cleco Corp		11,033
	2,115,359		CLP Holdings Ltd		18,489
	2,420,291		CMS Energy Corp		84,492
	15,122,121		Colbun S.A.		4,467
	48,055	e	Connecticut Water Service, Inc		1,746
	787,604	e	Consolidated Edison, Inc		48,044
	655,469		Contact Energy Ltd		2,927
	247,366		CPFL Energia S.A.		1,586
	574,000	e	CT Environmental Group Ltd		618
	6,477,087		Datang International Power Generation Co Ltd		3,304
	1,865,201		Dominion Resources, Inc		132,187
	412,419		Drax Group plc		2,215
	177,780		DTE Energy Co		14,345
	4,555,270	e	DUET Group (ASE Exchange)		8,833
	3,041,591		Duke Energy Corp		233,533
	401,683	*	Dynegy, Inc		12,625
	4,086,186		E.ON AG.		60,757
	7,134		E1 Corp		421
	493,600		Eastern Water Resources Development and Management PCL		165
	1,377,733		Edison International		86,067
	1,021,220		EDP - Energias do Brasil S.A.		3,312
	137,800		El Paso Electric Co		5,325
	169,500		Electric Power Development Co		5,710
	432,027		Electricite de France		10,359
	69,269	e	Elia System Operator S.A.		2,917
	143,397		Empire District Electric Co		3,559
	1,195,172		Empresa Electrica del Norte Grande S.A.		1,873
	5,832,853		Empresa Nacional de Electricidad S.A.		8,719
	356,596		Enagas		10,197

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,018,418		Endesa S.A.	$	38,965
	400,469		Enea S.A.		1,746
	546,930		Enel Green Power S.p.A		1,020
	8,858,899		Enel S.p.A.		40,019
	601,658		Energa S.A.		3,947
	6,480,617		Energias de Portugal S.A.		24,271
	724,540	*,e	Energy World Corp Ltd		212
	28,681,889		Enersis S.A.		9,384
	789,695	e	ENN Energy Holdings Ltd		4,849
	527,414	e	Entergy Corp		40,869
	153,130		Equatorial Energia S.A.		1,499
	444,893		ERM Power Ltd		769
	613,326		Eversource Energy		30,985
	49,184	e	EVN AG.		554
	2,543,221		Exelon Corp		85,478
	125,826		Federal Grid Co Unified Energy System JSC (ADR)		76
	4,060,400		First Gen Corp		2,767
	570,430		First Philippine Holdings Corp		1,225
	1,200,131		FirstEnergy Corp		42,077
	477,801	e	Fortis, Inc		14,554
	859,817	e	Fortum Oyj		18,013
	464,017		GAIL India Ltd		2,881
	725,300		Gas Malaysia BHD		507
	586,756		Gas Natural SDG S.A.		13,174
	1,899,077		Gaz de France		37,494
	562,235		Genesis Energy Ltd		940
	679,943		Glow Energy PCL (Foreign)		1,791
	145,610		Great Plains Energy, Inc		3,885
	7,434,143		Guangdong Investments Ltd		9,749
	56,481		Gujarat Gas Co Ltd		569
	167,311		Gujarat State Petronet Ltd		332
	10,304		Hanjin Heavy Industries & Construction Holdings Co Ltd		71
	129,630		Hawaiian Electric Industries, Inc		4,164
	1,302,992		Hera S.p.A.		3,058
	185,100	*,e	Hokkaido Electric Power Co, Inc		1,456
	333,342		Hokuriku Electric Power Co		4,411
	6,008,903	e	Hong Kong & China Gas Ltd		13,914
	3,389,819		Hong Kong Electric Holdings Ltd		34,603
	486,830	*	Huadian Energy Co Ltd		230
	22,600,000	e	Huadian Fuxin Energy Corp Ltd		11,051
	10,798,000		Huadian Power International Co		9,008
	7,725,066		Huaneng Power International, Inc		9,175
	10,360,000		Huaneng Renewables Corp Ltd		3,750
	556,000	e	Hyflux Ltd		370
	7,500,698		Iberdrola S.A.		48,369
	169,115		Idacorp, Inc		10,632
	54,294	*,m	IDGC Holding JSC (GDR)		94
	71,572	*	Indiabulls Infrastructure and Power Ltd		2
	66,419		Indraprastha Gas Ltd		446
	244,352		Infinis Energy plc		681
	60,000	e	Infraestructura Energetica ,NV SAB de C.V.		327

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,812,145	e	Infratil Ltd	$	4,308
	218,164		Innergex Renewable Energy, Inc		1,929
	109,284		Integrys Energy Group, Inc		7,871
	621,856		Interconexion Electrica S.A.		1,777
	1,014,281		Inversiones Aguas Metropolitanas S.A.		1,632
	959,276		Iride S.p.A.		1,313
	768,720		Isagen S.A. ESP		902
	11,000	e	iShares MSCI EAFE Small-Cap ETF		544
	211,722		ITC Holdings Corp		7,925
	368,330	*	Jaiprakash Power Ventures Ltd		60
	336,821	e	Just Energy Income Fund		1,574
	31,100		K&O Energy Group, Inc		388
	562,000	*,e,g	Kangda International Environmental Co Ltd		247
	787,615	*	Kansai Electric Power Co, Inc		7,507
	19,442	*	Kenon Holdings Ltd		376
	2,529		Korea District Heating Corp		126
	372,020		Korea Electric Power Corp		15,331
	25,750		Korea Gas Corp		938
	3,510		KyungDong City Gas Co Ltd		340
	387,777	*	Kyushu Electric Power Co, Inc		3,757
	143,236		Laclede Group, Inc		7,337
	391,100		Light S.A.		1,765
	2,615,000		Manila Water Co, Inc		1,585
	426,451		MDU Resources Group, Inc		9,100
	1,452,247	e	Meridian Energy Ltd		2,195
	133,230		MGE Energy, Inc		5,905
	59,321		Middlesex Water Co		1,350
	698,306		Mighty River Power Ltd		1,617
	197,976		National Fuel Gas Co		11,944
	5,923,210		National Grid plc		76,149
	362,532		New Jersey Resources Corp		11,260
	3,293		NEXT FUNDS JPX-Nikkei Index 400 Exchange Traded Fund		389
	2,764,862		NextEra Energy, Inc		287,684
	4,114	*,m	Nirvikara Paper Mills Ltd		3
	441,742		NiSource, Inc		19,507
	105,356	e	Northland Power Income Fund		1,440
	93,205	e	Northwest Natural Gas Co		4,469
	154,416		NorthWestern Corp		8,306
	2,793,386		NRG Energy, Inc		70,365
	82,061	e	NRG Yield, Inc		4,163
	2,935,290		NTPC Ltd		6,889
	700,236		OGE Energy Corp		22,134
	127,600		Okinawa Electric Power Co, Inc		4,607
	187,838	e	ONE Gas, Inc		8,120
	96,808	e	Ormat Technologies, Inc		3,681
	3,257,188		Osaka Gas Co Ltd		13,621
	123,467		Otter Tail Corp		3,972
	117,776		Pattern Energy Group, Inc		3,335
	687,536		Pennon Group plc		8,398
	517,303		Pepco Holdings, Inc		13,879

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,127,200		Petronas Gas BHD	$	7,006
	1,657,845	e	PG&E Corp		87,982
	269,888		Piedmont Natural Gas Co, Inc		9,962
	299,041		Pinnacle West Capital Corp		19,064
	269,165		PNM Resources, Inc		7,860
	19,541,708		PNOC Energy Development Corp		3,711
	1,439,230		Polska Grupa Energetyczna S.A.		7,907
	259,454	e	Portland General Electric Co		9,623
	1,167,338		Power Grid Corp of India Ltd		2,710
	2,894,864		PPL Corp		97,441
	14,962,087		PT Perusahaan Gas Negara Persero Tbk		5,484
	528,867		PTC India Ltd		684
	127,260	*	Public Power Corp		777
	1,221,837		Public Service Enterprise Group, Inc		51,219
	184,400		Puncak Niaga Holding BHD		132
	32,586		Qatar Electricity & Water Co		1,745
	179,349		Questar Corp		4,279
	55,695		Red Electrica de Espana		4,529
	512,747		Redes Energeticas Nacionais S.A.		1,506
	368,535		Reliance Energy Ltd		2,558
	96,087	*	Reliance Power Ltd		87
	35,936	e	Rubis		2,282
	1,581,575		RusHydro (ADR)		1,531
	499,070		RWE AG.		12,706
	1,100,000	*	Saeta Yield S.A.		12,360
	8,265		Samchully Co Ltd		878
	195,685		SCANA Corp		10,761
	483,809		Scottish & Southern Energy plc		10,737
	19,120		Sechilienne-Sidec		365
	1,496,072		Sempra Energy		163,102
	330,402		Severn Trent plc		10,072
	144,884	*	Shikoku Electric Power Co, Inc		1,783
	111,800		Shizuoka Gas Co Ltd		740
	306,324	*	Silver Eagle Acquisition Corp		3,676
	48,610		SJW Corp		1,503
	3,312,102		Snam Rete Gas S.p.A.		16,077
	703,000	*,e,m	Sound Global Ltd		476
	120,485		South Jersey Industries, Inc		6,540
	1,056,708		Southern Co		46,791
	158,888		Southwest Gas Corp		9,243
	15,073	e	Spark Energy, Inc		222
	1,410,555		Spark Infrastructure Group		2,123
	426,900		SPCG PCL		357
	1,123,630		Suez Environnement S.A.		19,345
	333,069	e	Superior Plus Corp		3,732
	744,450		Taiwan Cogeneration Corp		644
	1,395,320		Tata Power Co Ltd		1,721
	2,089,158		Tauron Polska Energia S.A.		2,428
	259,288		TECO Energy, Inc		5,030
	173,132	e	Telecom Plus plc		2,234
	5,297,465		Tenaga Nasional BHD		20,511
	79,113		Terna Energy S.A.		186

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	743,060		Terna Rete Elettrica Nazionale S.p.A.	$	3,272
	75,168		TerraForm Power, Inc		2,744
	1,592,000		Thai Tap Water Supply PCL		558
	1,698,000		Tianjin Development Hldgs Ltd		1,317
	750,000		Tianjin Jinran Public Utilities Co Ltd		126
	396,007		Toho Gas Co Ltd		2,308
	1,117,375		Tohoku Electric Power Co, Inc		12,692
	1,424,219	*	Tokyo Electric Power Co, Inc		5,391
	3,494,813		Tokyo Gas Co Ltd		21,971
	96,121		Torrent Power Ltd		252
	844,000	e	Towngas China Co Ltd		772
	172,119		Tractebel Energia S.A.		1,904
	418,706	e	TransAlta Corp		3,884
	70,300	e	TransAlta Renewables, Inc		697
	96,821		Transmissora Alianca de Energia Eletrica S.A.		635
	861,492		UGI Corp		28,076
	193,305		UIL Holdings Corp		9,940
	625,659		United Utilities Group plc		8,651
	47,014		Unitil Corp		1,635
	19,945		VA Tech Wabag Ltd		261
	19,945	*,m	VA Tech Wabag Ltd (New)		264
	39,475	e	Valener, Inc		540
	25,000	e	Vanguard FTSE Developed Markets ETF		996
	285,868		Vectren Corp		12,618
	1,044,417		Veolia Environnement		19,754
	60,718	*,e	Vivint Solar, Inc		737
	2,008,560	*	VPC Specialty Lending Investments plc		2,994
	289,701		Westar Energy, Inc		11,229
	175,172		WGL Holdings, Inc		9,880
	287,447		Wisconsin Energy Corp		14,229
	2,990,266		Xcel Energy, Inc		104,091
	4,438		YESCO Co Ltd		144
	39,259		York Water Co		953
	8,594,986		YTL Corp BHD		3,876
	3,080,844		YTL Power International BHD		1,247
	41,115		Zespol Elektrowni Patnow Adamow Konin S.A.		267
	189,987	*	Zorlu Enerji Elektrik Uretim AS		134
			TOTAL UTILITIES		3,598,640
			TOTAL COMMON STOCKS		124,258,984
			(Cost $109,702,011)
PURCHASED OPTIONS - 0.0%
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	2,000		Apple, Inc		5
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5
			TOTAL PURCHASED OPTIONS		5
			(Cost $3)

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	6,282,621	*	ITAUSA Investimentos Itau PR	$	19,646
			TOTAL BANKS		19,646
CAPITAL GOODS - 0.0%
	27,992	e	Villeroy & Boch AG		440
			TOTAL CAPITAL GOODS		440
DIVERSIFIED FINANCIALS - 0.0%
	300,000		Daishin Securities Co Ltd Pref 2		1,809
			TOTAL DIVERSIFIED FINANCIALS		1,809
MEDIA - 0.0%
	196,098	*	Zee Entertainment Enterprises Ltd		2
			TOTAL MEDIA		2
REAL ESTATE - 0.0%
	8,497,223	*,m	Ayala Land, Inc (Preferred B)		19
			TOTAL REAL ESTATE		19
			TOTAL PREFERRED STOCKS		21,916
			(Cost $29,234)
RIGHTS / WARRANTS - 0.0%
BANKS - 0.0%
	2,816,661		Banco Bilbao Vizcaya Argentaria S.A.		406
	1,016,870	e	Banco de Sabadell S.A.		258
			TOTAL BANKS		664
CAPITAL GOODS - 0.0%
	42,966		CB Industrial Product Holding BHD		6
	140,800		Eastern & Oriental BHD		16
	366,296	m	GMR Infrastructure Ltd		9
	285,887		KNM Group BHD		12
			TOTAL CAPITAL GOODS		43
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	117,383		Com Hem Holding AB		1
	555,080		Serco Group plc		338
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		339
CONSUMER SERVICES - 0.0%
	174,019		Minor International PCL		23
			TOTAL CONSUMER SERVICES		23
ENERGY - 0.0%
	64,082	e,m	Magnum Hunter Resources Corp		0	^
			TOTAL ENERGY		0	^
FOOD & STAPLES RETAILING - 0.0%
	135,947	m	Safeway, Inc		12
	135,947	m	Safeway, Inc		12
			TOTAL FOOD & STAPLES RETAILING		24

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
FOOD, BEVERAGE & TOBACCO - 0.0%
	2,460		Minerva S.A.	$	0	^
			TOTAL FOOD, BEVERAGE & TOBACCO		0	^
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	197,908		Community Health Systems, Inc		4
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		4
INSURANCE - 0.0%
	32,082	e,m	Discovery Ltd		91
	230,105	m	GT Capital Holdings, Inc		0	^
			TOTAL INSURANCE		91
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	7,636	e	BioTime, Inc		15
	55,620	*,m	Forest Laboratories, Inc CVR		53
	21,958	*,m	Furiex Pharamaceuticals, Inc		215
	17,790	*,e,m	Omthera Pharmaceuticals, Inc		11
	228,016	e,m	Trius Therapeutics, Inc		30
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		324
REAL ESTATE - 0.0%
	71,100	m	Abacus Property Group		0	^
	14,104	m	Africa Israel Investments Ltd		0	^
	4,761,352	m	BGP Holdings plc		0	^
	139,308		Mah Sing Group BHD		8
	145		Sansiri PCL		0	^
	555		Tejon Ranch Co		0	^
	38,266		WHA Corp PCL		9
			TOTAL REAL ESTATE		17
SOFTWARE & SERVICES - 0.0%
	141,205	*,m	Gerber Scientific, Inc		0	^
	1,046,780		Samart Corp PCL		81
			TOTAL SOFTWARE & SERVICES		81
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	31,612		Inari Amertron BHD		13
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		13
TELECOMMUNICATION SERVICES - 0.0%
	196,024	m	Leap Wireless International, Inc		494
	5,768,127		Telefonica S.A.		930
			TOTAL TELECOMMUNICATION SERVICES		1,424
TRANSPORTATION - 0.0%
	56,792	m	Thoresen Thai Agencies PCL		0	^
	11,512	m	Thoresen Thai Agencies PCL		0	^
			TOTAL TRANSPORTATION		0	^
			TOTAL RIGHTS / WARRANTS		3,047
			(Cost $1,904)

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
SHORT-TERM INVESTMENTS - 4.7%
GOVERNMENT AGENCY DEBT - 0.3%
$	90,000,000		Federal Home Loan Bank (FHLB)		0.052	%	04/10/15	$	89,999
	15,600,000		FHLB		0.055		04/15/15		15,600
	20,000,000		FHLB		0.050		04/29/15		19,999
	80,000,000		FHLB		0.060		05/08/15		79,996
	50,000,000		FHLB		0.068		06/03/15		49,995
	30,000,000	d	Federal National Mortgage Association (FNMA)		0.080		05/01/15		29,999
			TOTAL GOVERNMENT AGENCY DEBT						285,588
TREASURY DEBT - 0.3%
	1,030,000		United States Treasury Bill		0.062		05/07/15		1,030
	1,800,000	d	United States Treasury Bill		0.095		05/28/15		1,800
	6,000,000	d	United States Treasury Bill		0.063		06/11/15		6,000
	6,000,000	d	United States Treasury Bill		0.130		06/25/15		6,000
	53,800,000	d	United States Treasury Bill		0.056-0.065		08/13/15		53,789
	21,000,000		United States Treasury Bill		0.083		08/20/15		20,995
	25,000,000		United States Treasury Bill		0.070		08/27/15		24,992
	140,300,000	d	United States Treasury Bill		0.086-0.107		09/17/15		140,232
	83,000,000	d	United States Treasury Bill		0.100		10/15/15		82,941
	50,000,000		United States Treasury Bill		0.098		11/12/15		49,951
			TOTAL TREASURY DEBT						387,730
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 4.1%
CERTIFICATE OF DEPOSIT - 0.5%
	135,000,000		Bank of Montreal		0.010		04/01/15		135,000
	275,000,000		CIBC Bank & Trust Company		0.020		04/01/15		275,000
	275,000,000		National Australia Bank Ltd		0.030		04/01/15		275,000
			TOTAL CERTIFICATE OF DEPOSIT						685,000
REPURCHASE AGREEMENT - 3.4%
	250,000,000	o	Barclays		0.100		04/01/15		250,000
	302,000,000	p	Barclays		0.100-0.150		04/01/15		302,000
	122,000,000	q	BNP		0.070-0.100		04/01/15		122,000
	325,000,000	r	Calyon		0.090-0.130		04/01/15		325,000
	350,000,000	s	Citigroup		0.130		04/01/15		350,000
	200,000,000	t	Citigroup		0.110		04/02/15		200,000
	250,000,000	u	Citigroup		0.100		04/02/15		250,000
	150,000,000	v	Goldman Sachs		0.130		04/01/15		150,000
	450,000,000	w	Goldman Sachs		0.090		04/02/15		450,000
	200,000,000	x	Goldman Sachs		0.080		04/02/15		200,000
	100,000,000	y	Goldman Sachs		0.090		04/06/15		100,000
	200,000,000	z	JP Morgan Chase		0.120		04/01/15		200,000
	550,000,000	aa	Merrill Lynch		0.050		04/01/15		550,000
	300,000,000	ab	Royal Bank of Scotland		0.100		04/07/15		300,000
	395,000,000	ac	Societe Generale		0.140		04/01/15		395,000
	100,000,000	ad	Societe Generale		0.150		04/01/15		100,000
			TOTAL REPURCHASE AGREEMENT						4,244,000
VARIABLE RATE SECURITIES - 0.2%
	6,806,553	i	Granite Master Issuer plc 2006		0.376		12/20/50		6,774
	5,381,926	i	Granite Master Issuer plc 2007		0.376		12/20/50		5,353

187

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,141,850	i	Puma Finance Ltd		0.402	%	02/21/38	$	6,083
	170,000,000	i	SLM Student Loan Trust 2007		0.296		01/25/19		168,685
	5,502,306	i	SLM Student Loan Trust 2008		0.606		10/25/16		5,502
			TOTAL VARIABLE RATE SECURITIES						192,397
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						5,121,397
			TOTAL SHORT-TERM INVESTMENTS						5,794,715
			(Cost $5,795,683)
			TOTAL INVESTMENTS - 104.1%						130,084,716
			(Cost $115,535,764)
			OTHER ASSETS & LIABILITIES, NET - (4.1)%						(4,986,564	)
			NET ASSETS - 100.0%					$	125,098,152

	Abbreviation(s):
ADR	American Depositary Receipt
ETF	Exchange Traded Fund
GDR	Global Depository Receipt
INR	Indian Rupee
NVDR	Non Voting Depository Receipt
REIT	Real Estate Investment Trust
SPDR	Standard & Poor’s Depository Receipts

*	Non-income producing
^	Amount represents less than $1,000.
a	Affiliated holding
b	In bankruptcy
d	All or a portion of these securities have been segregated to cover margin requirements on open futures transactions.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $5,607,061,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 03/31/15 the aggregate value of these securities was $137,606,000, or 0.1% of net assets.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
n	All or a portion of these securities have been segregated by the custodian to cover margin requirements on open written options contracts.
o	Agreement with Barclays, 0.10% dated 03/31/15 to be repurchased at $250,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $255,000,000.
p	Agreement with Barclays, 0.10%-0.15% dated 03/31/15 to be repurchased at $302,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $308,040,000.
q	Agreement with BNP, 0.07%-0.10% dated 03/31/15 to be repurchased at $122,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $124,440,000.
r	Agreement with Calyon 0.09%-0.13% dated 03/31/15 to be repurchased at $325,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $331,500,000.
s	Agreement with Citigroup, 0.13% dated 03/31/15 to be repurchased at $350,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $357,000,000.
t	Agreement with Citigroup, 0.11% dated 03/31/15 to be repurchased at $200,000,000 on 04/02/15, collateralized by U.S. Government Agency Securities valued at $204,000,000.
u	Agreement with Citigroup, 0.10% dated 03/31/15 to be repurchased at $250,000,000 on 04/02/15, collateralized by U.S. Government Agency Securities valued at $255,000,000.
v	Agreement with Goldman Sachs, 0.13% dated 03/31/15 to be repurchased at $150,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $153,001,000.

188

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

w	Agreement with Goldman Sachs, 0.09% dated 03/31/15 to be repurchased at $450,000,000 on 04/02/15, collateralized by U.S. Government Agency Securities valued at $459,003,000.
x	Agreement with Goldman Sachs, 0.08% dated 03/31/15 to be repurchased at $200,000,000 on 04/02/15, collateralized by U.S. Government Agency Securities valued at $204,000,000.
y	Agreement with Goldman Sachs, 0.09% dated 03/31/15 to be repurchased at $100,000,000 on 04/06/15, collateralized by U.S. Government Agency Securities valued at $102,004,000.
z	Agreement with JP Morgan Chase, 0.12% dated 03/31/15 to be repurchased at $200,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $204,002,000.
aa	Agreement with Merrill Lynch, 0.05% dated 03/31/15 to be repurchased at $550,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $561,000,000.
ab	Agreement with Royal Bank of Scotland, 0.10% dated 03/31/15 to be repurchased at $300,000,000 on 04/07/15, collateralized by U.S. Government Agency Securities valued at $306,001,000.
ac	Agreement with Societe Generale, 0.14% dated 03/31/15 to be repurchased at $395,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $402,900,000.
ad	Agreement with Societe Generale, 0.15% dated 03/31/15 to be repurchased at $100,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $102,001,000.

Cost amounts are in thousands.

189

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)

March 31, 2015

	Value		% of total
Country	(000)		portfolio
DOMESTIC
UNITED STATES	$	90,977,414		70.2	%
TOTAL DOMESTIC		90,977,414		70.2
FOREIGN
ARGENTINA		1,668		0.0
AUSTRALIA		1,695,257		1.3
AUSTRIA		130,535		0.1
BAHAMAS		113		0.0
BELGIUM		281,403		0.2
BERMUDA		13,121		0.0
BRAZIL		537,330		0.4
CANADA		2,586,013		2.0
CAYMAN ISLANDS		1,159		0.0
CHILE		110,266		0.1
CHINA		1,985,740		1.5
COLOMBIA		40,805		0.0
CYPRUS		71		0.0
CZECH REPUBLIC		20,759		0.0
DENMARK		443,017		0.3
EGYPT		29,825		0.0
FAROE ISLANDS		2,728		0.0
FINLAND		264,075		0.2
FRANCE		2,766,743		2.1
GEORGIA		2,792		0.0
GERMANY		2,292,707		1.8
GIBRALTAR		894		0.0
GREECE		45,239		0.0
GUERNSEY, C.I.		467		0.0
HONG KONG		1,010,795		0.8
HUNGARY		16,358		0.0
INDIA		746,396		0.6
INDONESIA		229,168		0.2
IRELAND		506,084		0.4
ISLE OF MAN		5,419		0.0
ISRAEL		235,820		0.2
ITALY		669,934		0.5
JAPAN		6,138,422		4.7
JERSEY, C.I.		8,550		0.0
KOREA, REPUBLIC OF		1,315,349		1.0
LUXEMBOURG		59,849		0.0
MACAU		8,679		0.0
MALAYSIA		265,850		0.2
MALTA		4,771		0.0
MEXICO		419,637		0.3
MONACO		8,236		0.0
NETHERLANDS		1,173,520		0.9
NEW ZEALAND		99,399		0.1
NORWAY		206,620		0.2
PAKISTAN		2,122		0.0

190

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

	Value		% of total
Country	(000)		portfolio
PANAMA	$	18,711		0.0	%
PERU		17,887		0.0
PHILIPPINES		164,404		0.1
POLAND		115,533		0.1
PORTUGAL		56,342		0.0
PUERTO RICO		15,586		0.0
QATAR		45,103		0.0
RUSSIA		249,420		0.2
SINGAPORE		545,855		0.4
SOUTH AFRICA		651,368		0.5
SPAIN		607,406		0.5
SRI LANKA		1,794		0.0
SWEDEN		869,602		0.7
SWITZERLAND		2,476,222		1.9
TAIWAN		1,138,248		0.9
THAILAND		233,540		0.2
TURKEY		121,102		0.1
UKRAINE		1,290		0.0
UNITED ARAB EMIRATES		62,030		0.0
UNITED KINGDOM		5,329,431		4.1
VIETNAM		1,958		0.0
VIRGIN ISLANDS, U.S.		765		0.0
TOTAL FOREIGN		39,107,302		29.8
TOTAL PORTFOLIO	$	130,084,716		100.0	%

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2015

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 98.9%
AUSTRALIA - 1.8%
	146,583		AGL Energy Ltd	$	1,697
	35,115	e	ALS Ltd		132
	806,551		Alumina Ltd		981
	437,944		Amcor Ltd		4,666
	880,625		AMP Ltd		4,298
	99,908		APA Group		687
	207,054		Asciano Group		996
	151,025		AusNet Services		168
	1,155,058		Australia & New Zealand Banking Group Ltd		32,134
	48,277		Australian Stock Exchange Ltd		1,519
	33,149		Bank of Queensland Ltd		347
	40,377		Bendigo Bank Ltd		385
	2,251,063		BHP Billiton Ltd		52,324
	896,133		BHP Billiton plc		19,666
	126,480		BlueScope Steel Ltd		401
	71,094		Boral Ltd		345
	359,031		Brambles Ltd		3,140
	212,148		Caltex Australia Ltd		5,630
	156,465		Coca-Cola Amatil Ltd		1,281
	5,207		Cochlear Ltd		358
	377,361		Commonwealth Bank of Australia		26,766
	127,501		Computershare Ltd		1,232
	395,196		Crown Ltd		4,011
	124,993		CSL Ltd		8,745
	82,635		Dexus Property Group		476
	71,877		DuluxGroup Ltd		350
	6,300,943		Echo Entertainment Group Ltd		21,615
	130,716		Federation Centres		302
	4,888	e	Flight Centre Ltd		147
	140,082	e	Fortescue Metals Group Ltd		207
	152,312		GPT Group (ASE)		529
	48,807	e	Harvey Norman Holdings Ltd		165
	99,679		Healthscope Ltd		232
	38,136		Iluka Resources Ltd		246
	247,385		Incitec Pivot Ltd		764
	559,514		Insurance Australia Group Ltd		2,590
	2,993,669		John Fairfax Holdings Ltd		2,167
	42,065		Leighton Holdings Ltd		674
	169,116		Lend Lease Corp Ltd		2,136
	157,234		Macquarie Goodman Group		757
	102,366		Macquarie Group Ltd		5,950
	246,977	*	Medibank Pvt Ltd		436
	1,014,590		Mirvac Group		1,549
	953,897		National Australia Bank Ltd		27,925

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	454,827	*	Newcrest Mining Ltd	$	4,587
	194,108		Novion Property Group		370
	321,889	e	OneSteel Ltd		41
	100,683	e	Orica Ltd		1,529
	326,399		Origin Energy Ltd		2,798
	328,034		Orora Ltd		565
	72,671		Oxiana Ltd		217
	20,182		Platinum Asset Mangement Ltd		120
	2,857,603	*	Qantas Airways Ltd		6,778
	423,150		QBE Insurance Group Ltd		4,183
	189,582		QR National Ltd		698
	11,848		Ramsay Health Care Ltd		605
	4,774		REA Group Ltd		175
	43,305		Recall Holdings Ltd		255
	253,873		Santos Ltd		1,373
	3,517,657		Scentre Group		9,993
	29,604		Seek Ltd		384
	41,152		Shopping Centres Australasia Property Group		63
	34,250		Sonic Healthcare Ltd		532
	724,049		Stockland Trust Group		2,474
	401,089		Suncorp-Metway Ltd		4,113
	169,805		Sydney Airport		668
	73,165		Tabcorp Holdings Ltd		264
	130,438		Tattersall’s Ltd		395
	1,384,927		Telstra Corp Ltd		6,648
	224,180		Toll Holdings Ltd		1,508
	26,263		TPG Telecom Ltd		182
	359,919		Transurban Group		2,606
	58,201		Treasury Wine Estates Ltd		226
	326,557		Wesfarmers Ltd		10,905
	1,650,511		Westfield Corp		11,961
	694,815		Westpac Banking Corp		20,769
	195,192		Woodside Petroleum Ltd		5,114
	313,732		Woolworths Ltd		7,026
	33,348		WorleyParsons Ltd		241
			TOTAL AUSTRALIA		351,492
AUSTRIA - 0.1%
	3,825	*,e	Andritz AG.		228
	14,874		Erste Bank der Oesterreichischen Sparkassen AG.		366
	65,989	*,m	Immoeast AG.		0	^
	49,554	*,e	Immofinanz Immobilien Anlagen AG.		146
	7,685		OMV AG.		211
	5,647		Raiffeisen International Bank Holding AG.		78
	5,920		Voestalpine AG.		217
	2,037		Wiener Staedtische Allgemeine Versicherung AG.		90
	1,000,000	e	Wienerberger AG.		15,957
			TOTAL AUSTRIA		17,293
BELGIUM - 0.3%
	11,949		Ageas		429
	143,254		Anheuser-Busch InBev NV (ADR)		17,464

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	31,925	*,m	Anheuser-Busch InBev NV (Strip VVPR)	$	0	^
	7,725		Belgacom S.A.		271
	3,850		Colruyt S.A.		168
	5,389		Delhaize Group		484
	649,443		Fagron NV		25,288
	4,123		Groupe Bruxelles Lambert S.A.		342
	477	*,m	Groupe Bruxelles Lambert S.A. - (Strip VVPR)		0	^
	55,664		InBev NV		6,800
	12,961	*	KBC Groep NV		801
	3,072		Solvay S.A.		444
	2,744	*	Telenet Group Holding NV		151
	34,063		UCB S.A.		2,461
	5,152		Umicore		215
			TOTAL BELGIUM		55,318
BRAZIL - 0.0%
	734,600		Banco Itau Holding Financeira S.A.		8,127
			TOTAL BRAZIL		8,127
CANADA - 3.1%
	21,885		Agnico-Eagle Mines Ltd		608
	53,456	e	Agrium, Inc		5,571
	857,755		Alimentation Couche Tard, Inc		34,180
	13,508	e	AltaGas Income Trust		451
	256,654	e	ARC Resources Ltd		4,409
	11,420		Atco Ltd		407
	65,000		Bank of Montreal		3,898
	212,115		Bank of Montreal		12,711
	385,460		Bank of Nova Scotia		19,338
	465,761		Barrick Gold Corp (Canada)		5,093
	131,819	e	Baytex Energy Trust		2,085
	139,132	e	BCE, Inc		5,890
	268,851	*,e	Blackberry Ltd (New)		2,397
	151,263	e	Bombardier, Inc		299
	146,574		Brookfield Asset Management, Inc		7,839
	75,777		CAE, Inc		884
	41,416	e	Cameco Corp (Toronto)		577
	134,515	e	Canadian Imperial Bank of Commerce/Canada		9,752
	598,432	e	Canadian National Railway Co		40,077
	365,651		Canadian Natural Resources Ltd (Canada)		11,207
	306,767	e	Canadian Oil Sands Trust		2,386
	108,658	e	Canadian Pacific Railway Ltd (Toronto)		19,895
	81,952		Canadian Tire Corp Ltd		8,349
	15,470		Canadian Utilities Ltd		486
	200,000	*	Canfor Corp		4,003
	390,000	*	Celestica, Inc		4,329
	313,089	e	Cenovus Energy, Inc (Toronto)		5,278
	94,194	*	CGI Group, Inc		3,995
	25,438	e	CI Financial Corp		711
	2,552		Constellation Software, Inc		882
	71,589	e	Crescent Point Energy Corp		1,596
	606,877		Dollarama, Inc		33,924

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	74,463		Eldorado Gold Corp	$	342
	350,000	*	Element Financial Corp		4,731
	26,554		Empire Co Ltd		1,852
	226,685		Enbridge, Inc		10,927
	334,216		EnCana Corp		3,731
	172,252	e	Enerplus Resources Fund		1,746
	4,021		Fairfax Financial Holdings Ltd		2,254
	114,120		Finning International, Inc		2,123
	9,879		First Capital Realty, Inc		154
	73,965	e	First Quantum Minerals Ltd		896
	103,982	e	Fortis, Inc		3,167
	71,353		Franco-Nevada Corp		3,458
	5,353		George Weston Ltd		424
	248,480		Gildan Activewear, Inc		7,326
	306,150		Goldcorp, Inc		5,540
	46,872	e	Great-West Lifeco, Inc		1,355
	89,844		H&R Real Estate Investment Trust		1,655
	46,450	e	Husky Energy, Inc		948
	49,255	e	IGM Financial, Inc		1,750
	120,662		Imperial Oil Ltd		4,816
	10,975		Industrial Alliance Insurance and Financial Services, Inc		367
	23,352		Intact Financial Corp		1,759
	49,058	e	Inter Pipeline Ltd		1,264
	40,816		Jean Coutu Group PJC, Inc		872
	47,987	e	Keyera Corp		3,192
	577,825	*	Kinross Gold Corp		1,282
	130,000		Linamar Corp		8,015
	43,557		Loblaw Cos Ltd		2,129
	101,006		Magna International, Inc (Class A)		5,400
	160,000		Magna International, Inc (Class A) (NY)		8,586
	514,628		Manulife Financial Corp		8,740
	16,071	*	MEG Energy Corp		260
	9,752		Methanex Corp		522
	273,241		Metro, Inc		7,404
	130,181	e	National Bank of Canada		4,753
	52,287	*	New Gold, Inc		175
	15,573		Onex Corp		904
	134,890		Open Text Corp		7,121
	5,996	*	Paramount Resources Ltd (Class A)		148
	61,760	e	Pembina Pipeline Income Fund		1,952
	61,001	e	Peyto Exploration & Development Corp		1,636
	282,813	e	Potash Corp of Saskatchewan		9,117
	156,872		Power Corp Of Canada		4,152
	116,016	e	Power Financial Corp		3,434
	13,504	e	PrairieSky Royalty Ltd		319
	1,599	*	Restaurant Brands International LP		59
	603,989	*,e	Restaurant Brands International, Inc		23,199
	27,935	*	Restaurant Brands International, Inc (Toronto)		1,071
	99,553		RioCan Real Estate Investment Trust		2,277
	100,498	e	Rogers Communications, Inc (Class B)		3,364
	587,247		Royal Bank of Canada (Toronto)		35,349
	114,331		Saputo, Inc		3,142

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	127,893	e	Shaw Communications, Inc (B Shares)	$	2,870
	47,626		Silver Wheaton Corp		905
	15,973		SNC-Lavalin Group, Inc		496
	210,109	e	Sun Life Financial, Inc		6,475
	834,383		Suncor Energy, Inc		24,382
	156,675	e	Talisman Energy, Inc (Toronto)		1,201
	83,920		Teck Cominco Ltd		1,152
	96,222		TELUS Corp		3,196
	1,266,980	e	Toronto-Dominion Bank		54,228
	195,423	*	Tourmaline Oil Corp		5,914
	151,590	e	TransAlta Corp		1,406
	413,769	e	TransCanada Corp		17,694
	503,865		TransForce, Inc		11,935
	292,819	*	Turquoise Hill Resources Ltd		913
	59,184	e	Vermilion Energy, Inc		2,488
	40,266		West Fraser Timber Co Ltd		2,060
	180,000	e	Westjet Airlines Ltd		4,220
	610,824		Yamana Gold, Inc		2,190
			TOTAL CANADA		608,391
CHINA - 0.9%
	794,000		Agricultural Bank of China		393
	169,549	*,e	Alibaba Group Holding Ltd (ADR)		14,113
	22,600	*	Baidu, Inc (ADR)		4,710
	2,708,700		Bank of Communications Co Ltd		2,328
	2,700,000		Brilliance China Automotive Holdings Ltd		5,198
	2,300,000	*,e	CAR, Inc		4,363
	7,916,942	*,g	CGN Power Co Ltd		3,410
	9,579,000	e,m	China Animal Healthcare Ltd		6,425
	1,122,000		China Aoyuan Property Group Ltd		200
	9,401,000	*	China Eastern Airlines Corp Ltd (H Shares)		5,996
	7,346,800		China Everbright International Ltd		12,322
	497,000		China Merchants Bank Co Ltd		1,214
	1,300,255	*	China New Town Development Co Ltd		58
	724,000		China Overseas Land & Investment Ltd		2,338
	11,400,000		China Southern Airlines Co Ltd		8,235
	1,849,100	*,e	China Vanke Co Ltd		4,382
	203,000		CNOOC Ltd		287
	322,700	*,g	Dalian Wanda Commercial Properties Co Ltd		2,001
	1,450,000		Great Wall Motor Co Ltd		10,222
	12,000,000		Huadian Fuxin Energy Corp Ltd		5,868
	7,000,000		Huadian Power International Co		5,839
	16,910,000	e	Huaneng Renewables Corp Ltd		6,121
	9,338,000		Industrial & Commercial Bank of China		6,907
	84,259	*	JD.com, Inc (ADR)		2,476
	16,500,000	m	Sihuan Pharmaceutical Holdings		9,386
	2,397,612		Sino-Ocean Land Holdings Ltd		1,450
	2,339,100		Tencent Holdings Ltd		44,419
	170,749	e	Yangzijiang Shipbuilding		157
	3,057,000	e	Yanlord Land Group Ltd		2,179
			TOTAL CHINA		172,997

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
DENMARK - 0.5%
	203	e	AP Moller - Maersk AS (Class A)	$	412
	370	e	AP Moller - Maersk AS (Class B)		773
	5,561	e	Carlsberg AS (Class B)		459
	5,685		Coloplast AS		429
	486,774		Danske Bank AS		12,833
	9,347		DSV AS		291
	160,000	e	H Lundbeck AS		3,370
	6,335	*,e	ISS A.S.		200
	1,015,600	e	Novo Nordisk AS		54,217
	12,767		Novozymes AS		583
	106,049		Pandora AS		9,655
	180,000		Sydbank AS		5,634
	742,422		TDC AS		5,319
	300,000	*	Topdanmark AS		8,976
	1,085	e	TrygVesta AS		128
	11,816	*,e	Vestas Wind Systems AS		487
	1,246	*	William Demant Holding		106
			TOTAL DENMARK		103,872
FINLAND - 0.5%
	7,457	e	Elisa Oyj (Series A)		187
	23,624		Fortum Oyj		495
	295,200		Huhtamaki Oyj		9,183
	50,000		Kesko Oyj (B Shares)		2,135
	16,216		Kone Oyj (Class B)		719
	6,052	e	Metso Oyj		177
	256,466	e	Neste Oil Oyj		6,730
	5,216,756		Nokia Oyj		39,776
	5,912		Nokian Renkaat Oyj		176
	5,097		Orion Oyj (Class B)		144
	865,700		Sampo Oyj (A Shares)		43,664
	27,739		Stora Enso Oyj (R Shares)		285
	28,422		UPM-Kymmene Oyj		552
	8,038		Wartsila Oyj (B Shares)		356
			TOTAL FINLAND		104,579
FRANCE - 3.7%
	359,750	e	Accor S.A.		18,760
	1,559		Aeroports de Paris		186
	18,141		Air Liquide		2,335
	1,848,241	*	Alcatel S.A.		6,948
	3,972,025	*	Alcatel-Lucent (ADR)		14,816
	11,556	*	Alstom RGPT		356
	3,487		Arkema		276
	277,332		Atos Origin S.A.		19,090
	94,897		AXA S.A.		2,388
	609,627		BNP Paribas		37,093
	44,294		Bollore		236
	163,788		Bouygues S.A.		6,430
	13,295		Bureau Veritas S.A.		285
	7,480		Cap Gemini S.A.		614

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	28,850		Carrefour S.A.	$	964
	2,968		Casino Guichard Perrachon S.A.		263
	2,892		Christian Dior S.A.		544
	8,932		CNP Assurances		157
	797,693		Compagnie de Saint-Gobain		35,025
	3,176,293		Credit Agricole S.A.		46,675
	6,752		Dassault Systemes S.A.		457
	753,122		Edenred		18,790
	12,889		Electricite de France		309
	10,807		Essilor International S.A.		1,241
	1,992		Eurazeo		136
	175,230		European Aeronautic Defence and Space Co		11,392
	8,132		Eutelsat Communications		270
	586,229		Faurecia		25,563
	1,746		Fonciere Des Regions		173
	99	*	Fonciere Des Regions (New)		10
	1,158,377		France Telecom S.A.		18,603
	299,491		Gaz de France		5,913
	1,520		Gecina S.A.		206
	30,317		Groupe Danone		2,044
	25,340		Groupe Eurotunnel S.A.		363
	1,359		Hermes International		480
	2,037		Icade		184
	1,381		Iliad S.A.		323
	1,838		Imerys S.A.		135
	731,518		JC Decaux S.A.		24,633
	8,936		Klepierre		439
	317,821		Lafarge S.A.		20,662
	6,349		Lagardere S.C.A.		191
	13,645		Legrand S.A.		739
	277,253		L’Oreal S.A.		51,067
	14,642		LVMH Moet Hennessy Louis Vuitton S.A.		2,577
	9,734		Michelin (C.G.D.E.) (Class B)		968
	597,354		Natixis		4,475
	5,340	*	Numericable SAS		291
	11,235		Pernod-Ricard S.A.		1,328
	21,813	*	Peugeot S.A.		365
	4,003		PPR		781
	9,774		Publicis Groupe S.A.		754
	75,000		Rallye S.A.		2,822
	1,340		Remy Cointreau S.A.		99
	287,623		Renault S.A.		26,125
	1,230,657		Rexel S.A.		23,205
	15,255		Safran S.A.		1,066
	385,954		Sanofi-Aventis		38,116
	27,777		Schneider Electric S.A.		2,162
	8,038		SCOR		271
	1,457		Societe BIC S.A.		208
	522,690		Societe Generale		25,236
	4,883		Sodexho Alliance S.A.		476
	275,271		Suez Environnement S.A.		4,739

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	5,333		Technip S.A.	$	323
	314,852		Teleperformance		21,577
	81,735		Thales S.A.		4,535
	2,088,126	e	Total S.A.		103,795
	26,138		Unibail-Rodamco		7,058
	238,209		Valeo S.A.		35,530
	5,715		Vallourec		139
	22,533		Veolia Environnement		426
	409,758		Vinci S.A.		23,411
	362,346		Vivendi Universal S.A.		8,996
	1,708		Wendel		204
	9,560		Zodiac S.A.		316
			TOTAL FRANCE		720,138
GERMANY - 3.2%
	81,026		Adidas-Salomon AG.		6,398
	336,202		Allianz AG.		58,370
	2,116		Axel Springer AG.		125
	48,118		BASF AG.		4,763
	535,449		Bayer AG.		80,112
	228,791		Bayerische Motoren Werke AG.		28,493
	2,738		Bayerische Motoren Werke AG. (Preference)		253
	691,748	e	Beiersdorf AG.		59,981
	7,666		Brenntag AG.		458
	3,109		Celesio AG.		92
	51,146	*	Commerzbank AG.		703
	133,651		Continental AG.		31,474
	973,007	e	Daimler AG. (Registered)		93,442
	18,183		Deutsche Annington Immobilien SE		613
	72,308		Deutsche Bank AG.		2,506
	10,219		Deutsche Boerse AG.		834
	425,084		Deutsche Lufthansa AG.		5,952
	1,505,251		Deutsche Post AG.		46,896
	1,537,886		Deutsche Telekom AG.		28,129
	15,170		Deutsche Wohnen AG.		388
	65,000		Duerr AG.		7,138
	104,907		E.ON AG.		1,560
	2,003		Fraport AG. Frankfurt Airport Services Worldwide		120
	180,000		Freenet AG.		5,409
	11,420		Fresenius Medical Care AG.		949
	19,979		Fresenius SE		1,191
	3,420		Fuchs Petrolub AG. (Preference)		136
	9,188		GEA Group AG.		442
	73,225		Hannover Rueckversicherung AG.		7,567
	7,492		HeidelbergCement AG.		593
	6,144		Henkel KGaA		634
	9,426		Henkel KGaA (Preference)		1,107
	3,535		Hugo Boss AG.		429
	59,232		Infineon Technologies AG.		705
	9,404		K&S AG.		306
	1,250	*	Kabel Deutschland Holding AG.		162
	4,641		Lanxess AG.		247

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	9,646		Linde AG.	$	1,962
	1,909		MAN AG.		201
	6,821		Merck KGaA		763
	8,014		Metro AG.		272
	101,156	*	Morphosys AG.		6,382
	39,066		Muenchener Rueckver AG.		8,395
	4,490		Osram Licht AG.		222
	8,119		Porsche AG.		795
	537,475		ProSiebenSat. Media AG.		26,289
	187,947		RTL Group		18,073
	25,969		RWE AG.		661
	48,381		SAP AG.		3,497
	264,723		Siemens AG.		28,631
	150,000		Software AG.		3,896
	6,337		Symrise AG.		400
	30,132		Telefonica Deutschland Holding AG.		173
	23,897		ThyssenKrupp AG.		626
	24,094		TUI AG. (DI)		423
	6,376		United Internet AG.		289
	21,675		Volkswagen AG.		5,573
	8,348		Volkswagen AG. (Preference)		2,214
	154,000	e	Wacker Chemie AG.		17,776
	300,046		Wirecard AG.		12,646
			TOTAL GERMANY		618,836
HONG KONG - 0.9%
	7,050,158		AIA Group Ltd		44,264
	21,018		ASM Pacific Technology		219
	120,457		Bank of East Asia Ltd		480
	2,159,353		BOC Hong Kong Holdings Ltd		7,701
	105,431	e	Cathay Pacific Airways Ltd		244
	53,723		Cheung Kong Infrastructure Holdings Ltd		461
	5,122,000		China Gas Holdings Ltd		8,381
	625,000		Chow Sang Sang Holding		1,356
	555,787		CK Hutchison Holdings Ltd		11,355
	502,454		CLP Holdings Ltd		4,391
	1,370,331	e	Esprit Holdings Ltd		1,390
	211,463		First Pacific Co		211
	211,803		Galaxy Entertainment Group Ltd		962
	1,063,434	*	Global Brands Group Holding Ltd		208
	209,000	*	Glorious Property Holdings Ltd		29
	1,261,517		Hang Lung Group Ltd		5,761
	4,334,803		Hang Lung Properties Ltd		12,179
	361,172		Hang Seng Bank Ltd		6,537
	399,544		Henderson Land Development Co Ltd		2,807
	240,660		HKT Trust and HKT Ltd		310
	2,020,151		Hong Kong & China Gas Ltd		4,678
	295,276		Hong Kong Electric Holdings Ltd		3,014
	186,826		Hong Kong Exchanges and Clearing Ltd		4,579
	359,913		Hutchison Whampoa Ltd		4,989
	57,760		Hysan Development Co Ltd		253
	250		Kerry Logistics Network Ltd		0	^

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,520,448		Kerry Properties Ltd	$	5,278
	1,595,027		Li & Fung Ltd		1,557
	209,968		Link REIT		1,295
	443,754		MTR Corp		2,111
	1,592,075		New World Development Co Ltd		1,846
	390,902		Noble Group Ltd		262
	135,548		NWS Holdings Ltd		226
	371,040		PCCW Ltd		227
	1,145,533		Sands China Ltd		4,737
	2,770,286		Shanghai Real Estate Ltd		71
	105,992		Shangri-La Asia Ltd		146
	274,542		Sino Land Co		448
	179,611		SJM Holdings Ltd		235
	1,054,642		Sun Hung Kai Properties Ltd		16,262
	154,128		Swire Pacific Ltd (Class A)		2,098
	172,800		Swire Properties Ltd		561
	121,902		Techtronic Industries Co		411
	320,500	*,g	WH Group Ltd		182
	2,238,701		Wharf Holdings Ltd		15,628
	83,334		Wheelock & Co Ltd		426
	65,912		Yue Yuen Industrial Holdings		233
			TOTAL HONG KONG		180,999
INDIA - 0.5%
	350,000		Axis Bank Ltd		3,139
	1,650,000		Bank of Baroda		4,317
	99,359		Bharti Infratel Ltd		611
	180,000		Cadila Healthcare Ltd		5,010
	322,531	*	DEN Networks Ltd		621
	1,530,483	*	Dhanalakshmi Bank Ltd		757
	3,349,567		DLF Ltd		8,444
	110,200		Dr Reddy’s Laboratories Ltd		6,178
	530,000		HDFC Bank Ltd		8,672
	332,666		Housing Development Finance Corp		6,994
	450,000		ICICI Bank Ltd (ADR)		4,662
	283,431		Jyothy Laboratories Ltd		1,211
	196,320		LIC Housing Finance Ltd		1,373
	410,000		Lupin Ltd		13,171
	6,000		MRF Ltd		3,715
	90,834		Prestige Estates Projects Ltd		389
	1,113,028	*	Puravankara Projects Ltd		1,102
	111,069		Reliance Industries Ltd		1,467
	800,000		Sun Pharmaceutical Industries Ltd		13,089
	813,513	*	Sunteck Realty Ltd		3,244
	1,300,000		Tata Motors Ltd		6,906
	20,769,465	*	Unitech Ltd		5,348
	600,000		United Phosphorus Ltd		4,239
	81,475		Yes Bank Ltd		1,064
			TOTAL INDIA		105,723
INDONESIA - 0.1%
	9,328,800		PT Bank Mandiri Persero Tbk		8,897

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	41,374,500		PT Express Transindo Utama Tbk	$	2,721
			TOTAL INDONESIA		11,618
IRELAND - 1.1%
	1,464,716	*	Bank of Ireland		559
	1,614,191		CRH plc		42,216
	60,000		DCC plc		3,574
	4,032,262		Green REIT plc		7,093
	6,470,177		Hibernia REIT plc		8,140
	147,992	*,m	Irish Bank Resolution Corp Ltd		0	^
	40,777		James Hardie Industries NV		472
	327,597		Kerry Group plc (Class A)		22,016
	6,302		Ryanair Holdings plc		75
	447,093		Ryanair Holdings plc (ADR)		29,852
	610,365		Shire Ltd		48,660
	977,088		Smurfit Kappa Group plc		27,456
	868,326		XL Capital Ltd		31,954
			TOTAL IRELAND		222,067
ISRAEL - 0.1%
	53,783		Bank Hapoalim Ltd		259
	67,321	*	Bank Leumi Le-Israel		250
	101,251		Bezeq Israeli Telecommunication Corp Ltd		188
	235		Delek Group Ltd		60
	24,237		Israel Chemicals Ltd		172
	137		Israel Corp Ltd		48
	7,309	*	Mizrahi Tefahot Bank Ltd		74
	2,985		Nice Systems Ltd		182
	45,074		Teva Pharmaceutical Industries Ltd		2,817
	285,146		Teva Pharmaceutical Industries Ltd (ADR)		17,765
			TOTAL ISRAEL		21,815
ITALY - 0.9%
	4,000,000		A2A S.p.A.		4,153
	413,333		Ansaldo STS S.p.A.		4,188
	61,837		Assicurazioni Generali S.p.A.		1,216
	20,998		Autostrade S.p.A.		551
	11,478,496		Banca Intesa S.p.A.		38,958
	50,397		Banca Intesa S.p.A. RSP		157
	245,702	*,e	Banca Monte dei Paschi di Siena S.p.A		163
	46,453		Banche Popolari Unite Scpa		362
	19,893	*	Banco Popolare SC		310
	94,470		Enel Green Power S.p.A		176
	4,107,069		Enel S.p.A.		18,553
	633,106		ENI S.p.A.		10,958
	114,793		Exor S.p.A.		5,207
	20,933	*	Finmeccanica S.p.A.		249
	46,758		Fondiaria-Sai S.p.A		136
	287,472		Luxottica Group S.p.A.		18,207
	2,184,673	*	Mediaset S.p.A.		9,944
	5,295,960		Mediobanca S.p.A.		50,669
	600,000		Mediolanum S.p.A.		4,839

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	175,000		Moncler S.p.A	$	2,934
	12,692		Pirelli & C S.p.A.		210
	10,586		Prysmian S.p.A.		218
	13,947	*,e	Saipem S.p.A.		142
	109,417		Snam Rete Gas S.p.A.		531
	316,849		Telecom Italia RSP		298
	528,579	*	Telecom Italia S.p.A.		619
	78,284		Terna Rete Elettrica Nazionale S.p.A.		345
	232,899		UniCredit S.p.A		1,579
	304,209	*,e	Yoox S.p.A		8,389
			TOTAL ITALY		184,261
JAPAN - 8.0%
	2,000		ABC-Mart, Inc		117
	30,700	*,e	Acom Co Ltd		106
	400		Activia Properties Inc		3,495
	2,090		Advance Residence Investment Corp		5,013
	12,543	e	Advantest Corp		158
	199,209		Aeon Co Ltd		2,185
	8,803	e	AEON Financial Service Co Ltd		222
	8,760		Aeon Mall Co Ltd		174
	2,500		AEON REIT Investment Corp		3,584
	12,000		Air Water, Inc		214
	197,642		Aisin Seiki Co Ltd		7,166
	45,529		Ajinomoto Co, Inc		999
	14,000		Alfresa Holdings Corp		197
	88,435	e	All Nippon Airways Co Ltd		237
	27,644		Amada Co Ltd		266
	2,606,848		Aozora Bank Ltd		9,240
	191,407		Asahi Breweries Ltd		6,069
	80,773		Asahi Glass Co Ltd		529
	621,134		Asahi Kasei Corp		5,932
	12,700		Asics Corp		346
	660,400		Astellas Pharma, Inc		10,821
	107,105		Bank of Kyoto Ltd		1,123
	366,971		Bank of Yokohama Ltd		2,149
	5,353	e	Benesse Corp		168
	519,604		Bridgestone Corp		20,805
	18,985		Brother Industries Ltd		302
	45,800		Calbee, Inc		1,988
	89,997		Canon, Inc		3,184
	16,533	e	Casio Computer Co Ltd		313
	45,700		Central Japan Railway Co		8,259
	246,323		Chiba Bank Ltd		1,805
	118,100	e	Chiyoda Corp		1,009
	191,366	*	Chubu Electric Power Co, Inc		2,282
	72,758		Chugai Pharmaceutical Co Ltd		2,296
	50,100		Chugoku Bank Ltd		748
	83,753		Chugoku Electric Power Co, Inc		1,092
	20,842		Citizen Watch Co Ltd		160
	3,900	e	COLOPL, Inc		84
	12,055		Credit Saison Co Ltd		216

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,200		Crescendo Investment Corp	$	958
	45,000		CyberAgent, Inc		2,578
	266,400	*,e	CYBERDYNE, Inc		6,937
	45,076		Dai Nippon Printing Co Ltd		438
	22,230		Daicel Chemical Industries Ltd		265
	15,290	e	Daihatsu Motor Co Ltd		234
	85,900		Dai-ichi Mutual Life Insurance Co		1,246
	51,597	e	Daiichi Sankyo Co Ltd		820
	74,446		Daikin Industries Ltd		4,977
	12,563		Dainippon Sumitomo Pharma Co Ltd		149
	15,811		Daito Trust Construction Co Ltd		1,766
	234,056		Daiwa House Industry Co Ltd		4,613
	445,300		Daiwa Securities Group, Inc		3,505
	281,245		Denso Corp		12,821
	16,955		Dentsu, Inc		725
	204,500		Don Quijote Co Ltd		16,623
	212,352		East Japan Railway Co		17,017
	20,217		Eisai Co Ltd		1,438
	37,893		Electric Power Development Co		1,277
	4,644		FamilyMart Co Ltd		195
	39,043		Fanuc Ltd		8,524
	27,618		Fast Retailing Co Ltd		10,679
	1,195,822		Fuji Electric Holdings Co Ltd		5,642
	703,142		Fuji Heavy Industries Ltd		23,342
	545,384		Fujifilm Holdings Corp		19,403
	1,233,091		Fujitsu Ltd		8,409
	241,663		Fukuoka Financial Group, Inc		1,243
	76,100		Glory Ltd		2,119
	159,400	e	GMO Payment Gateway, Inc		3,763
	31,300	e	GungHo Online Entertainment Inc		122
	118,879		Gunma Bank Ltd		803
	122,842		Hachijuni Bank Ltd		866
	17,800		Hakuhodo DY Holdings, Inc		189
	11,274		Hamamatsu Photonics KK		340
	92,000		Hankyu Hanshin Holdings, Inc		568
	700,000		Haseko Corp		6,819
	1,200		Hikari Tsushin, Inc		78
	80,082		Hino Motors Ltd		1,139
	2,506		Hirose Electric Co Ltd		323
	160,000		Hiroshima Bank Ltd		862
	4,667		Hisamitsu Pharmaceutical Co, Inc		192
	8,252		Hitachi Chemical Co Ltd		176
	8,422		Hitachi Construction Machinery Co Ltd		147
	20,300		Hitachi High-Technologies Corp		618
	7,127,285		Hitachi Ltd		48,678
	17,000		Hitachi Metals Ltd		261
	364,000		Hokuhoku Financial Group, Inc		811
	53,131		Hokuriku Electric Power Co		703
	548,868		Honda Motor Co Ltd		17,917
	714,753		Hoya Corp		28,615
	2,471		Hulic Reit, Inc		3,797
	9,666		Ibiden Co Ltd		163

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,552		Ichigo Real Estate Investment Corp	$	1,254
	7,000		Idemitsu Kosan Co Ltd		122
	12,600		Iida Group Holdings Co Ltd		157
	200		Industrial & Infrastructure Fund Investment Corp		931
	287,400		Infomart Corp		2,631
	290,300		Inpex Holdings, Inc		3,199
	158,081		Isetan Mitsukoshi Holdings Ltd		2,612
	1,816,878		Ishikawajima-Harima Heavy Industries Co Ltd		8,495
	47,700		Isuzu Motors Ltd		633
	843,970		Itochu Corp		9,133
	23,524		Itochu Techno-Science Corp		488
	74,152		Iyo Bank Ltd		879
	298,800		J Front Retailing Co Ltd		4,691
	236,700		Japan Airlines Co Ltd		7,363
	26,900	*	Japan Display, Inc		96
	280,200	e	Japan Pile Corp		1,598
	61		Japan Prime Realty Investment Corp		210
	99		Japan Real Estate Investment Corp		466
	676		Japan Retail Fund Investment Corp		1,343
	426,100		Japan Tobacco, Inc		13,471
	39,104		JFE Holdings, Inc		863
	67,978		JGC Corp		1,350
	201,624		Joyo Bank Ltd		1,036
	14,353		JSR Corp		249
	416,303		JTEKT Corp		6,491
	2,126,680		JX Holdings, Inc		8,183
	250,000		kabu.com Securities Co Ltd		1,640
	66,372		Kajima Corp		308
	11,700		Kakaku.com, Inc		194
	202,252		Kamigumi Co Ltd		1,909
	69,000		Kanamoto Co Ltd		1,986
	19,900		Kaneka Corp		140
	216,174	*	Kansai Electric Power Co, Inc		2,060
	18,480		Kansai Paint Co Ltd		336
	41,453		Kao Corp		2,070
	513,212		Kawasaki Heavy Industries Ltd		2,589
	567,000		KDDI Corp		12,810
	41,000		Keihan Electric Railway Co Ltd		250
	150,622		Keihin Electric Express Railway Co Ltd		1,204
	185,910		Keio Corp		1,456
	22,426		Keisei Electric Railway Co Ltd		278
	2,263		Kenedix Realty Investment Corp		12,417
	11,351		Keyence Corp		6,194
	11,795		Kikkoman Corp		374
	328,914		Kintetsu Corp		1,207
	65,849		Kirin Brewery Co Ltd		864
	241,084		Kobe Steel Ltd		445
	7,500		Koito Manufacturing Co Ltd		226
	74,222		Komatsu Ltd		1,455
	8,073		Konami Corp		151
	37,213		Konica Minolta Holdings, Inc		377
	1,088,258		Kubota Corp		17,193

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	27,274		Kuraray Co Ltd	$	369
	8,245		Kurita Water Industries Ltd		199
	58,900		Kyocera Corp		3,219
	19,045		Kyowa Hakko Kogyo Co Ltd		248
	124,184	*	Kyushu Electric Power Co, Inc		1,203
	18,751		Lawson, Inc		1,300
	21,123		LIXIL Group Corp		500
	15,700		Mabuchi Motor Co Ltd		831
	100,000		Maeda Corp		725
	53,836		Makita Corp		2,790
	913,072		Marubeni Corp		5,279
	18,709		Marui Co Ltd		212
	3,596		Maruichi Steel Tube Ltd		85
	1,222,100	e	Matsui Securities Co Ltd		11,087
	557,055		Matsushita Electric Industrial Co Ltd		7,315
	897,500		Mazda Motor Corp		18,185
	5,200	e	McDonald’s Holdings Co Japan Ltd		115
	10,812		Mediceo Paltac Holdings Co Ltd		141
	4,749		MEIJI Holdings Co Ltd		579
	26,000		Minebea Co Ltd		409
	17,300		Miraca Holdings, Inc		795
	408,619		Mitsubishi Chemical Holdings Corp		2,372
	379,395		Mitsubishi Corp		7,624
	843,814		Mitsubishi Electric Corp		10,017
	374,705		Mitsubishi Estate Co Ltd		8,690
	287,160		Mitsubishi Gas Chemical Co, Inc		1,413
	1,062,150		Mitsubishi Heavy Industries Ltd		5,844
	9,262		Mitsubishi Logistics Corp		144
	90,293		Mitsubishi Materials Corp		303
	50,900		Mitsubishi Motors Corp		459
	4,795,354		Mitsubishi UFJ Financial Group, Inc		29,700
	39,300		Mitsubishi UFJ Lease & Finance Co Ltd		194
	531,304		Mitsui & Co Ltd		7,115
	240,087		Mitsui Chemicals, Inc		770
	901,100		Mitsui Engineering & Shipbuilding Co Ltd		1,536
	940,437		Mitsui Fudosan Co Ltd		27,619
	1,931,499		Mitsui OSK Lines Ltd		6,551
	308,609		Mitsui Sumitomo Insurance Group Holdings, Inc		8,640
	903,918		Mitsui Trust Holdings, Inc		3,755
	2,900	e	Mixi Inc		117
	5,181,456		Mizuho Financial Group, Inc		9,106
	110,000		Monex Beans Holdings, Inc		294
	346,300	e	MonotaRO Co Ltd		12,542
	304,020		Murata Manufacturing Co Ltd		41,754
	9,100		Nabtesco Corp		263
	68,000		Nagoya Railroad Co Ltd		272
	14,106		Namco Bandai Holdings, Inc		275
	205,615		NEC Corp		604
	10,000		Nexon Co Ltd		107
	32,932		NEXT FUNDS JPX-Nikkei Index 400 Exchange Traded Fund		3,888
	243,179		NGK Insulators Ltd		5,181

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	14,088		NGK Spark Plug Co Ltd	$	378
	12,238		NHK Spring Co Ltd		127
	167,400		Nidec Corp		11,112
	785,100		Nihon Nohyaku Co Ltd		7,852
	76,581	e	Nikon Corp		1,027
	32,498		Nintendo Co Ltd		4,768
	430		Nippon Building Fund, Inc		2,112
	32,184		Nippon Electric Glass Co Ltd		157
	68,441		Nippon Express Co Ltd		382
	13,944		Nippon Meat Packers, Inc		321
	11,900		Nippon Paint Co Ltd		435
	2,589		Nippon ProLogis REIT, Inc		5,699
	1,302,176		Nippon Steel Corp		3,274
	263,630		Nippon Telegraph & Telephone Corp		16,274
	500,308		Nippon Yusen Kabushiki Kaisha		1,439
	1,212,243		Nissan Motor Co Ltd		12,329
	17,000		Nisshin Seifun Group, Inc		200
	4,635		Nissin Food Products Co Ltd		228
	92,400		Nissin Kogyo Co Ltd		1,468
	5,500		Nitori Co Ltd		372
	330,537		Nitto Denko Corp		22,071
	26,553		NKSJ Holdings, Inc		826
	7,751		NOK Corp		233
	1,158,763		Nomura Holdings, Inc		6,806
	9,474		Nomura Real Estate Holdings, Inc		171
	204,564		Nomura Research Institute Ltd		7,686
	36,911		NSK Ltd		539
	165,500		NTT Data Corp		7,188
	494,900		NTT DoCoMo, Inc		8,649
	8,800		NTT Urban Development Corp		88
	51,259		Obayashi Corp		332
	201,098	e	Odakyu Electric Railway Co Ltd		2,048
	62,797		OJI Paper Co Ltd		257
	477,600	*	Olympus Corp		17,707
	66,402		Omron Corp		2,991
	221,398		Ono Pharmaceutical Co Ltd		24,983
	2,903		Oracle Corp Japan		125
	298,068		Oriental Land Co Ltd		22,569
	1,762,400		ORIX Corp		24,764
	149,981		Osaka Gas Co Ltd		627
	20,700		Osaka Securities Exchange Co Ltd		599
	7,200		Otsuka Corp		307
	31,000		Otsuka Holdings KK		970
	88,600		Park24 Co Ltd		1,813
	50,000		Pola Orbis Holdings, Inc		2,649
	62,900		Rakuten, Inc		1,108
	11,400	*	Recruit Holdings Co Ltd		356
	1,031,330		Resona Holdings, Inc		5,118
	395,281		Ricoh Co Ltd		4,298
	2,899		Rinnai Corp		215
	196,624		Rohm Co Ltd		13,436
	3,880		Sankyo Co Ltd		138

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,700	e	Sanrio Co Ltd	$	99
	264,935		Santen Pharmaceutical Co Ltd		3,864
	212,000		Sapporo Holdings Ltd		839
	109,800		Sawai Pharmaceutical Co Ltd		6,502
	15,980		SBI Holdings, Inc		193
	16,834		Secom Co Ltd		1,123
	15,043		Sega Sammy Holdings, Inc		219
	9,000		Seibu Holdings, Inc		233
	20,000		Seiko Epson Corp		354
	80,000		Seino Holdings Corp		868
	252,551		Sekisui Chemical Co Ltd		3,277
	213,620		Sekisui House Ltd		3,102
	348,781		Seven & I Holdings Co Ltd		14,657
	45,400		Seven Bank Ltd		224
	116,106	*,e	Sharp Corp		227
	54,119	*	Shikoku Electric Power Co, Inc		666
	18,982		Shimadzu Corp		211
	1,797		Shimamura Co Ltd		166
	6,281		Shimano, Inc		933
	1,533,962		Shimizu Corp		10,371
	178,900		Shin-Etsu Chemical Co Ltd		11,680
	489,649		Shinsei Bank Ltd		974
	94,033		Shionogi & Co Ltd		3,130
	28,985	e	Shiseido Co Ltd		514
	43,301		Shizuoka Bank Ltd		432
	19,400		Shoei Co Ltd		218
	14,273		Showa Shell Sekiyu KK		130
	4,288		SMC Corp		1,277
	775,160		Softbank Corp		45,145
	2,400,000		Sojitz Holdings Corp		4,012
	74,900		So-net M3, Inc		1,589
	1,800,682		Sony Corp		48,157
	14,000		Sony Financial Holdings, Inc		225
	11,315		Stanley Electric Co Ltd		255
	1,139,883		Sumitomo Chemical Co Ltd		5,850
	232,363		Sumitomo Corp		2,480
	60,476		Sumitomo Electric Industries Ltd		793
	1,524,625		Sumitomo Heavy Industries Ltd		9,978
	42,464		Sumitomo Metal Mining Co Ltd		621
	1,116,979		Sumitomo Mitsui Financial Group, Inc		42,785
	119,725		Sumitomo Realty & Development Co Ltd		4,310
	13,463		Sumitomo Rubber Industries, Inc		248
	10,800		Suntory Beverage & Food Ltd		462
	231,754		Suruga Bank Ltd		4,813
	6,255		Suzuken Co Ltd		191
	29,222		Suzuki Motor Corp		878
	306,400		Sysmex Corp		16,989
	46,531		T&D Holdings, Inc		639
	92,000		Taiheiyo Cement Corp		281
	304,143		Taisei Corp		1,717
	2,523		Taisho Pharmaceutical Holdings Co Ltd		187
	12,672	e	Taiyo Nippon Sanso Corp		172

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	406,718		Takashimaya Co Ltd	$	3,995
	297,748		Takeda Pharmaceutical Co Ltd		14,863
	70,981		Tanabe Seiyaku Co Ltd		1,218
	118,527		TDK Corp		8,393
	1,222,613		Teijin Ltd		4,148
	24,500		Terumo Corp		645
	55,376		THK Co Ltd		1,407
	288,878		Tobu Railway Co Ltd		1,369
	8,975		Toho Co Ltd		219
	33,000		Toho Gas Co Ltd		192
	141,215		Tohoku Electric Power Co, Inc		1,604
	543,464		Tokio Marine Holdings, Inc		20,514
	115,960	*	Tokyo Electric Power Co, Inc		439
	42,610		Tokyo Electron Ltd		2,956
	2,813,724		Tokyo Gas Co Ltd		17,689
	50,000		Tokyo Ohka Kogyo Co Ltd		1,616
	33,000		Tokyo Tatemono Co Ltd		242
	524,852		Tokyu Corp		3,247
	38,400		Tokyu Fudosan Holdings Corp		262
	361,126		TonenGeneral Sekiyu KK		3,114
	45,427		Toppan Printing Co Ltd		349
	462,664		Toray Industries, Inc		3,873
	2,155,481		Toshiba Corp		9,032
	900,000		Tosoh Corp		4,533
	22,681		Toto Ltd		337
	12,839		Toyo Seikan Kaisha Ltd		188
	37,299		Toyo Suisan Kaisha Ltd		1,312
	184,797		Toyoda Gosei Co Ltd		4,125
	13,061		Toyota Industries Corp		747
	1,964,148		Toyota Motor Corp		137,105
	17,094		Toyota Tsusho Corp		452
	8,328		Trend Micro, Inc		274
	250,900		Uni-Charm Corp		6,569
	200		United Urban Investment Corp		312
	17,330		USS Co Ltd		299
	33,000		West Japan Railway Co		1,730
	448,600	e	Yahoo! Japan Corp		1,850
	6,977		Yakult Honsha Co Ltd		486
	69,790	e	Yamada Denki Co Ltd		287
	67,406		Yamaguchi Financial Group, Inc		775
	13,288		Yamaha Corp		232
	20,983		Yamaha Motor Co Ltd		506
	2,700		Yamato Kogyo Co Ltd		65
	28,155		Yamato Transport Co Ltd		649
	9,553		Yamazaki Baking Co Ltd		172
	367,984	e	Yaskawa Electric Corp		5,378
	17,010		Yokogawa Electric Corp		183
	16,000		Yokohama Rubber Co Ltd		165
	268,800	e	Yumeshin Holdings Co Ltd		1,998
			TOTAL JAPAN		1,564,754

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
JERSEY, C.I. - 0.0%
	4,580		Randgold Resources Ltd	$	317
			TOTAL JERSEY, C.I.		317
KOREA, REPUBLIC OF - 0.2%
	37,000		Daewoo International Corp		884
	73,131		KB Financial Group, Inc		2,581
	3,000		Naver Corp		1,810
	22,964		Samsung Electronics Co Ltd		29,779
	20,000		Samsung Fire & Marine Insurance Co Ltd		4,822
	90,000		Woongjin Coway Co Ltd		7,407
			TOTAL KOREA, REPUBLIC OF		47,283
LUXEMBOURG - 0.1%
	4,548	*	Altice S.A.		493
	52,530		ArcelorMittal		493
	3,377,524		B&M European Value Retail S.A.		15,657
	3,551		Millicom International Cellular S.A.		257
	15,819		SES Global S.A.		561
	24,549		Tenaris S.A.		344
			TOTAL LUXEMBOURG		17,805
MACAU - 0.0%
	82,992		MGM China Holdings Ltd		156
	142,183	e	Wynn Macau Ltd		307
			TOTAL MACAU		463
MALAYSIA - 0.1%
	3,703,700		Karex BHD		4,590
	1,266,980		Public Bank BHD		6,459
	1,200,000		Tenaga Nasional BHD		4,646
	34,220		YNH Property BHD		18
			TOTAL MALAYSIA		15,713
MEXICO - 0.1%
	783,161	*,e	Cemex SAB de C.V. (ADR)		7,416
	12,340		Fresnillo plc		125
	700,000		Gruma SAB de C.V.		8,886
			TOTAL MEXICO		16,427
NETHERLANDS - 1.7%
	94,984		Aegon NV		750
	125,000	*	AerCap Holdings NV		5,456
	348,302		Akzo Nobel NV		26,335
	504,935		ASML Holding NV		51,190
	44,600	e	ASML Holding NV (ADR)		4,506
	4,291		Boskalis Westminster		212
	10,781		Delta Lloyd NV		203
	8,998		DSM NV		502
	4,179	e	Gemalto NV		333
	5,365		Heineken Holding NV		369
	12,272		Heineken NV		937

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	6,220,875	*	ING Groep NV	$	91,123
	1,371,962	*,e	ING Groep NV (ADR)		20,044
	46,867		Koninklijke Ahold NV		924
	49,489		Koninklijke Philips Electronics NV		1,404
	3,842		Koninklijke Vopak NV		212
	7,679	*	NN Group NV		218
	266,588	*	NXP Semiconductors NV		26,755
	4,597	*	OCI NV		142
	6,593		Randstad Holdings NV		400
	1,697,238		Royal Dutch Shell plc (A Shares)		50,471
	1,071,123		Royal Dutch Shell plc (B Shares)		33,366
	168,289		Royal KPN NV		570
	22,401		TNT Express NV		142
	185,348		Wolters Kluwer NV		6,052
			TOTAL NETHERLANDS		322,616
NEW ZEALAND - 0.1%
	4,000,000	e	Air New Zealand Ltd		8,136
	82,442		Auckland International Airport Ltd		277
	33,582		Contact Energy Ltd		150
	61,925		Fletcher Building Ltd		389
	112,887		Meridian Energy Ltd		171
	63,604		Mighty River Power Ltd		147
	33,943	e	Ryman Healthcare Ltd		199
	900,000	e	Sky Network Television Ltd		3,971
	167,779		Telecom Corp of New Zealand Ltd		373
			TOTAL NEW ZEALAND		13,813
NORWAY - 0.3%
	785,273		DNB NOR Holding ASA		12,603
	10,778		Gjensidige Forsikring BA		186
	140,000		Leroy Seafood Group ASA		4,075
	450,000	*,e	Nordic Semiconductor ASA		2,881
	71,187		Norsk Hydro ASA		374
	41,851		Orkla ASA		316
	400,000		PAN Fish ASA		4,582
	20,911	e	Seadrill Ltd (Oslo Exchange)		196
	1,718,139		Statoil ASA		30,379
	38,789		Telenor ASA		783
	9,689		Yara International ASA		492
			TOTAL NORWAY		56,867
PHILIPPINES - 0.1%
	11,808,300	*	Bloomberry Resorts Corp		2,756
	15,244,900	*	Melco Crown Philippines Resorts Corp		3,123
	4,174,604		Metropolitan Bank & Trust		9,094
	6,921,850		Robinsons Retail Holdings, Inc		13,008
			TOTAL PHILIPPINES		27,981
POLAND - 0.0%
	800,000		Polska Grupa Energetyczna S.A.		4,395
			TOTAL POLAND		4,395

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
PORTUGAL - 0.0%
	1,835,697	*,e	Banco Comercial Portugues S.A.	$	189
	123,334		Energias de Portugal S.A.		462
	20,183		Galp Energia SGPS S.A.		218
	13,799		Jeronimo Martins SGPS S.A.		174
			TOTAL PORTUGAL		1,043
SINGAPORE - 0.4%
	184,455		Ascendas REIT		348
	129,017		Avago Technologies Ltd		16,383
	194,397		CapitaCommercial Trust		250
	766,046		CapitaLand Ltd		1,997
	638,917		CapitaMall Trust		1,023
	137,100		City Developments Ltd		1,005
	181,148		ComfortDelgro Corp Ltd		382
	727,906		DBS Group Holdings Ltd		10,793
	555,192		Genting International plc		371
	3,786,295		Global Logistic Properties		7,308
	617,765		Golden Agri-Resources Ltd		191
	522,047		Hutchison Port Holdings Trust		362
	9,466	e	Jardine Cycle & Carriage Ltd		283
	413,068		Keppel Corp Ltd		2,706
	26,000		K-Green Trust		21
	78,567		K-REIT Asia		69
	434,569		Oversea-Chinese Banking Corp		3,346
	89,048		SembCorp Industries Ltd		273
	362,817	e	SembCorp Marine Ltd		770
	151,984		Singapore Airlines Ltd		1,323
	263,843		Singapore Exchange Ltd		1,564
	2,946,000		Singapore Post Ltd		4,207
	514,025	e	Singapore Press Holdings Ltd		1,569
	474,807		Singapore Technologies Engineering Ltd		1,204
	4,581,791		Singapore Telecommunications Ltd		14,621
	51,030		StarHub Ltd		162
	215,000		Suntec Real Estate Investment Trust		290
	260,333		United Overseas Bank Ltd		4,364
	43,384		United Overseas Land Ltd		242
	173,562		Wilmar International Ltd		412
			TOTAL SINGAPORE		77,839
SOUTH AFRICA - 0.2%
	400,000		Foschini Ltd		5,947
	27,915		Investec plc		232
	540,000		Mondi plc		10,377
	300,000		MTN Group Ltd		5,057
	34,000		Naspers Ltd (N Shares)		5,215
	800,000		Sanlam Ltd		5,156
	90,000		Sasol Ltd		3,039
			TOTAL SOUTH AFRICA		35,023

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
SPAIN - 0.8%
	21,703		Abertis Infraestructuras S.A. (Continuous)	$	392
	80,000	*	Acciona S.A.		6,161
	547,172		Acerinox S.A.		9,204
	9,340		ACS Actividades Construccion y Servicios S.A.		331
	3,108	*,g	Aena S.A.		313
	612,566		Amadeus IT Holding S.A.		26,253
	326,639		Banco Bilbao Vizcaya Argentaria S.A.		3,299
	182,173	e	Banco de Sabadell S.A.		445
	94,412	e	Banco Popular Espanol S.A.		462
	1,270,162		Banco Santander Central Hispano S.A.		9,522
	237,086	*	Bankia S.A.		330
	35,229	e	Bankinter S.A.		269
	43,109		Corp Mapfre S.A.		157
	2,934,305		Criteria CaixaBank S.A.		13,916
	932,538		Distribuidora Internacional de Alimentacion S.A.		7,277
	10,465		Enagas		299
	1,031,684		Endesa S.A.		19,917
	21,177		Ferrovial S.A.		450
	218,366		Gas Natural SDG S.A.		4,903
	300,000	*	Gestevision Telecinco S.A.		3,756
	7,845		Grifols S.A.		336
	4,046,734		Iberdrola S.A.		26,096
	57,724		Inditex S.A.		1,853
	129,390	*,e,m	Let’s GOWEX S.A.		1
	5,625		Red Electrica de Espana		457
	299,287		Repsol YPF S.A.		5,571
	56,400	e	Tecnicas Reunidas S.A.		2,367
	534,565		Telefonica S.A.		7,607
	8,780		Zardoya Otis S.A.		113
			TOTAL SPAIN		152,057
SWEDEN - 0.8%
	16,573		Alfa Laval AB		326
	110,000	*,e	Arcam AB		2,018
	92,634		Assa Abloy AB (Class B)		5,518
	35,100		Atlas Copco AB (A Shares)		1,136
	20,684		Atlas Copco AB (B Shares)		611
	12,595	e	Autoliv, Inc		1,483
	427,200	*	Biovitrum AB		4,505
	804,717		Boliden AB		15,941
	658,593	e	Electrolux AB (Series B)		18,815
	20,479	e	Elekta AB (B Shares)		184
	159,553		Ericsson (LM) (B Shares)		2,003
	10,416	*,e	Getinge AB (B Shares)		257
	4,101	e	Hakon Invest AB		137
	49,799		Hennes & Mauritz AB (B Shares)		2,018
	297,994		Hexagon AB (B Shares)		10,580
	21,120		Husqvarna AB (B Shares)		153
	7,751		Industrivarden AB		145
	713,283		Intrum Justitia AB		20,011
	24,199		Investor AB (B Shares)		963

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	200,000		JM AB	$	6,651
	965,649		Kinnevik Investment AB (Series B)		32,236
	11,698	*,e	Lundin Petroleum AB		160
	200,000		NCC AB (B Shares)		6,618
	159,262		Nordea Bank AB		1,940
	55,997		Sandvik AB		627
	15,913		Securitas AB (B Shares)		228
	78,981		Skandinaviska Enskilda Banken AB (Class A)		922
	20,259		Skanska AB (B Shares)		454
	21,097	e	SKF AB (B Shares)		545
	31,063		Svenska Cellulosa AB (B Shares)		714
	26,254		Svenska Handelsbanken (A Shares)		1,182
	246,851	*,e	Swedbank AB (A Shares)		5,893
	10,707		Swedish Match AB		315
	16,545		Tele2 AB		198
	134,886		TeliaSonera AB		857
	589,531		Volvo AB (B Shares)		7,135
			TOTAL SWEDEN		153,479
SWITZERLAND - 4.1%
	115,090		ABB Ltd		2,442
	66,413		Actelion Ltd		7,660
	401,737		Adecco S.A.		33,394
	4,529		Aryzta AG.		278
	54,565		Baloise Holding AG.		7,211
	113		Barry Callebaut AG.		110
	402,065		Cie Financiere Richemont S.A.		32,306
	10,965		Coca-Cola HBC AG.		197
	451,560		Credit Suisse Group		12,149
	420		EMS-Chemie Holding AG.		171
	7,200		Flughafen Zuerich AG.		5,665
	1,974		Geberit AG.		739
	8,000		Georg Fischer AG.		5,464
	477		Givaudan S.A.		862
	583,383		Glencore Xstrata plc		2,463
	10,000		Helvetia Holding AG.		5,381
	650,584		Holcim Ltd		48,470
	11,873		Julius Baer Group Ltd		593
	8,000		Kaba Holding AG.		4,807
	2,883		Kuehne & Nagel International AG.		428
	49		Lindt & Spruengli AG.		262
	5		Lindt & Spruengli AG. (Registered)		316
	280,639		Lonza Group AG.		34,939
	1,196,726		Nestle S.A.		90,116
	2,223,257		Novartis AG.		219,437
	1,445		Pargesa Holding S.A.		101
	897		Partners Group		267
	2,819		Phonak Holding AG.		391
	428,146		Roche Holding AG.		117,651
	2,308		Schindler Holding AG.		383
	1,122		Schindler Holding AG. (Registered)		183
	291		SGS S.A.		555

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	113		Sika AG.	$	405
	34,708		STMicroelectronics NV		323
	1,249	*	Sulzer AG.		137
	1,649		Swatch Group AG.		697
	2,461		Swatch Group AG. (Registered)		206
	1,705		Swiss Life Holding		421
	3,092		Swiss Prime Site AG.		269
	520,272		Swiss Re Ltd		50,184
	1,231		Swisscom AG.		714
	39,883		Syngenta AG.		13,549
	613,928		TE Connectivity Ltd		43,970
	2,507,309		UBS AG.		47,015
	7,792		Zurich Financial Services AG.		2,634
			TOTAL SWITZERLAND		795,915
TAIWAN - 0.4%
	6,250,000		Advanced Semiconductor Engineering, Inc		8,463
	2,078,000		Catcher Technology Co Ltd		21,732
	3,360,000		Cathay Financial Holding Co Ltd		5,354
	917,965		Eclat Textile Co Ltd		12,029
	3,989,346		Hota Industrial Manufacturing Co Ltd		7,904
	861,000		King Slide Works Co Ltd		12,966
	45,000		Largan Precision Co Ltd		3,869
	2,300,000		Pegatron Technology Corp		6,205
			TOTAL TAIWAN		78,522
THAILAND - 0.1%
	3,000,000		Delta Electronics Thai PCL		6,936
	2,730,600		Siam Commercial Bank PCL (Foreign)		14,934
			TOTAL THAILAND		21,870
TURKEY - 0.1%
	5,700,849		Emlak Konut Gayrimenkul Yatiri		6,453
	2,500,000		Eregli Demir ve Celik Fabrikalari TAS		3,885
	1,177,700	*	TAV Havalimanlari Holding AS		9,840
	1,800,000		Turkiye Is Bankasi (Series C)		4,051
			TOTAL TURKEY		24,229
UNITED ARAB EMIRATES - 0.1%
	521,841		Al Noor Hospitals Group plc		7,865
	473,008	*	Emaar Malls Group PJSC		376
	2,981,574		Emaar Properties PJSC		5,335
	1,425,000		First Gulf Bank PJSC		5,659
			TOTAL UNITED ARAB EMIRATES		19,235
UNITED KINGDOM - 7.4%
	51,623		3i Group plc		369
	48,075		Aberdeen Asset Management plc		327
	10,614	e	Admiral Group plc		240
	13,276		Aggreko plc		300
	2,289,830	*	Aldermore Group plc		7,914

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	19,793		AMEC plc	$	265
	73,082		Anglo American plc (London)		1,091
	21,139		Antofagasta plc		229
	3,050,029		ARM Holdings plc		49,536
	2,933,573		Ashtead Group plc		47,048
	110,100	*,e	ASOS plc		5,893
	751,032		Associated British Foods plc		31,343
	457,031		AstraZeneca plc		31,361
	3,121,601	*,g	Auto Trader Group plc		11,657
	605,958		Aviva plc		4,849
	12,806		Babcock International Group		187
	165,930		BAE Systems plc		1,286
	25,299,416		Barclays plc		91,319
	300,000		Bellway plc		8,793
	178,819		BG Group plc		2,195
	4,598,480		BP plc		29,808
	97,725		British American Tobacco plc		5,061
	298,819		British Land Co plc		3,683
	2,803,893		British Sky Broadcasting plc		41,251
	4,889,173		Britvic plc		53,080
	1,099,462		BT Group plc		7,144
	311,800	*	BTG plc		3,297
	16,882		Bunzl plc		458
	23,549		Burberry Group plc		605
	35,084		Capita Group plc		580
	262,613		Centrica plc		982
	160,000		Close Brothers Group plc		3,691
	49,592		CNH Industrial NV		406
	59,686		Cobham plc		269
	464,577		Compass Group plc		8,065
	136,700		Consort Medical plc		1,744
	936,296		Countrywide plc		7,120
	107,028		Croda International plc		4,341
	724,528		Delphi Automotive plc		57,774
	131,526		Diageo plc		3,635
	74,328		Direct Line Insurance Group plc		351
	1,290,448		easyJet plc		35,915
	52,412		Experian Group Ltd		868
	1,296,938	*	Fiat DaimlerChrysler Automobiles NV		21,055
	82,455		GKN plc		437
	1,275,477		GlaxoSmithKline plc		29,361
	81,231		Group 4 Securicor plc		356
	39,900		Hammerson plc		393
	12,513		Hargreaves Lansdown plc		213
	8,557,727		Hays plc		19,315
	3,623,120		HSBC Holdings plc		30,874
	29,601		ICAP plc		231
	14,775		IMI plc		279
	190,310		Imperial Tobacco Group plc		8,348
	1,075,000		Inchcape plc		12,638
	22,513		Inmarsat plc		308
	12,838		InterContinental Hotels Group plc		501

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	45,108	*	International Consolidated Airlines Group S.A.	$	404
	7,369,455	*	International Consolidated Airlines Group S.A. (London)		65,685
	8,362		Intertek Group plc		310
	197,253		ITV plc		739
	65,794	e	J Sainsbury plc		252
	10,939		Johnson Matthey plc		548
	2,325,405	*	Just Eat plc		15,040
	125,392		Kingfisher plc		707
	41,694		Land Securities Group plc		774
	10,459,574		Legal & General Group plc		43,076
	284,428	*	Liberty Global plc		14,167
	846,097	*	Liberty Global plc (Class A)		43,549
	48,860		Liberty International plc		252
	36,660,721	*	Lloyds TSB Group plc		42,495
	15,426		London Stock Exchange Group plc		561
	6,800,024		Man Group plc		20,511
	86,503		Marks & Spencer Group plc		684
	40,693		Meggitt plc		331
	49,612		Melrose Industries plc		204
	37,171	g	Merlin Entertainments plc		243
	196,865		National Grid plc		2,531
	50,952		New Carphone Warehouse plc		312
	331,360		Next plc		34,461
	259,362		Old Mutual plc		851
	43,182		Pearson plc		929
	15,616		Pentair plc		982
	15,230		Persimmon plc		375
	13,696		Petrofac Ltd		193
	484,994		Poundland Group plc		2,625
	3,577,008		Prudential plc		88,765
	33,819		Reckitt Benckiser Group plc		2,905
	369,250		Reed Elsevier NV		9,201
	60,224		Reed Elsevier plc		1,036
	73,658		Resolution Ltd		451
	37,325		Rexam plc		320
	302,962		Rightmove plc		13,441
	178,974		Rio Tinto Ltd		7,755
	564,924		Rio Tinto plc		23,296
	98,829		Rolls-Royce Group plc		1,394
	132,997	*	Royal Bank of Scotland Group plc		672
	32,109		Royal Mail plc		208
	53,604	*	RSA Insurance Group plc		334
	1,273,322		SABMiller plc		66,699
	58,609		Sage Group plc		405
	6,001		Schroders plc		284
	51,684		Scottish & Southern Energy plc		1,147
	39,671		Segro plc		245
	12,759		Severn Trent plc		389
	11,901		Signet Jewelers Ltd		1,652
	47,348		Smith & Nephew plc		807
	21,175		Smiths Group plc		350

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	646,469	*	Sports Direct International plc	$	5,810
	405,110		Standard Chartered plc		6,561
	103,202		Standard Life plc		725
	14,576		Subsea 7 S.A.		125
	24,220		Tate & Lyle plc		215
	6,027,549		Taylor Wimpey plc		13,817
	423,944		Tesco plc		1,513
	1,099,261		Travis Perkins plc		31,739
	48,140		Tullow Oil plc		202
	85,760		Unilever NV		3,584
	67,130		Unilever plc		2,801
	36,423		United Utilities Group plc		504
	748,000		Vesuvius plc		5,436
	1,087,586	*	Virgin Money Holdings UK plc		6,385
	13,080,540		Vodafone Group plc		42,804
	11,179		Weir Group plc		282
	230,000		WH Smith plc		4,419
	335,825		Whitbread plc		26,077
	43,060		William Hill plc		236
	110,911		WM Morrison Supermarkets plc		317
	515,031		Wolseley plc		30,441
	2,192,382		WPP plc		49,790
			TOTAL UNITED KINGDOM		1,439,969
UNITED STATES - 56.1%
	238,560		3M Co		39,350
	65,000		A.O. Smith Corp		4,268
	994,811		Abbott Laboratories		46,090
	1,207,326		AbbVie, Inc		70,677
	27,878	e	Abercrombie & Fitch Co (Class A)		614
	115,432		Accenture plc		10,815
	264,430		ACE Ltd		29,481
	360,684	*	Actavis plc		107,347
	964,035		Activision Blizzard, Inc		21,908
	184,652	*	Adobe Systems, Inc		13,653
	37,561	e	ADT Corp		1,560
	20,412		Advance Auto Parts, Inc		3,055
	74,999		AES Corp		964
	504,229		Aetna, Inc		53,716
	26,839	*	Affiliated Managers Group, Inc		5,765
	52,928		Aflac, Inc		3,388
	14,617		AGCO Corp		696
	34,540		Agilent Technologies, Inc		1,435
	39,823		Air Products & Chemicals, Inc		6,024
	14,411		Airgas, Inc		1,529
	37,719	*	Akamai Technologies, Inc		2,680
	99,100		Alaska Air Group, Inc		6,558
	509,377		Albemarle Corp		26,916
	229,426		Alcoa, Inc		2,964
	240,269	*	Alexion Pharmaceuticals, Inc		41,639
	212,469	*	Alkermes plc		12,954
	3,109	*	Alleghany Corp		1,514

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	105,588	*	Alliance Data Systems Corp	$	31,280
	79,928		Alliant Energy Corp		5,035
	629,874		Allstate Corp		44,828
	35,191	*	Ally Financial, Inc		738
	38,894		Altera Corp		1,669
	409,634		Altria Group, Inc		20,490
	149,455	*	Amazon.com, Inc		55,612
	9,878		Amerco, Inc		3,264
	66,333		Ameren Corp		2,799
	35,421		American Airlines Group, Inc		1,870
	116,205		American Capital Agency Corp		2,479
	102,036		American Electric Power Co, Inc		5,740
	189,279		American Express Co		14,786
	151,900		American Financial Group, Inc		9,744
	172,947		American International Group, Inc		9,476
	104,874		American Tower Corp		9,874
	122,871		American Water Works Co, Inc		6,661
	150,373		Ameriprise Financial, Inc		19,675
	50,515		AmerisourceBergen Corp		5,742
	25,638		Ametek, Inc		1,347
	287,566		Amgen, Inc		45,967
	129,593		Amphenol Corp (Class A)		7,637
	438,604		Anadarko Petroleum Corp		36,321
	36,515		Analog Devices, Inc		2,300
	316,662		Annaly Capital Management, Inc		3,293
	13,916	*	Ansys, Inc		1,227
	6,522	*,e	Antero Resources Corp		230
	187,974		Anthem, Inc		29,025
	54,387		Aon plc		5,228
	567,298		Apache Corp		34,225
	3,703,346		Apple, Inc		460,807
	1,408,726		Applied Materials, Inc		31,781
	43,674	*	Arch Capital Group Ltd		2,690
	323,741		Archer Daniels Midland Co		15,345
	11,037	*	Arrow Electronics, Inc		675
	170,391		Ashland, Inc		21,693
	20,057		Assurant, Inc		1,232
	882,441		AT&T, Inc		28,812
	680,228	*	Autodesk, Inc		39,889
	91,570		Automatic Data Processing, Inc		7,842
	14,471	*	Autonation, Inc		931
	25,866	*	AutoZone, Inc		17,645
	18,499		AvalonBay Communities, Inc		3,223
	14,698		Avery Dennison Corp		778
	18,722		Avnet, Inc		833
	67,892	e	Avon Products, Inc		542
	166,701		Axiall Corp		7,825
	200,574		Axis Capital Holdings Ltd		10,346
	201,209		Baker Hughes, Inc		12,793
	152,360		Ball Corp		10,763
	5,894,470		Bank of America Corp		90,716
	91,019		Bank of New York Mellon Corp		3,663

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	18,161		Bard (C.R.), Inc	$	3,039
	195,361		Baxter International, Inc		13,382
	72,965		BB&T Corp		2,845
	16,560	*	BE Aerospace, Inc		1,054
	50,367		Becton Dickinson & Co		7,232
	88,761	*	Bed Bath & Beyond, Inc		6,815
	671,043	*	Belmond Ltd.		8,240
	213,849	*	Berkshire Hathaway, Inc (Class B)		30,863
	931,879	*	Berry Plastics Group, Inc		33,725
	812,335		Best Buy Co, Inc		30,698
	344,000		Big Lots, Inc		16,522
	92,610	*	Biogen Idec, Inc		39,104
	328,380	*	BioMarin Pharmaceuticals, Inc		40,923
	48,665		BlackRock, Inc		17,804
	218,000		Blackstone Group LP		8,478
	348,641		Boeing Co		52,324
	22,071		BorgWarner, Inc		1,335
	36,656		Boston Properties, Inc		5,149
	1,902,389	*	Boston Scientific Corp		33,767
	66,800		Brinker International, Inc		4,112
	488,658		Bristol-Myers Squibb Co		31,518
	983,627		Broadcom Corp (Class A)		42,586
	160,000		Broadridge Financial Solutions, Inc		8,802
	660,000		Brocade Communications Systems, Inc		7,831
	74,203		Brown-Forman Corp (Class B)		6,704
	244,199		Bunge Ltd		20,112
	74,155		CA, Inc		2,418
	58,756	e	Cablevision Systems Corp (Class A)		1,075
	110,660		Cabot Oil & Gas Corp		3,268
	97,000	*	CACI International, Inc (Class A)		8,722
	55,000	e	Cal-Maine Foods, Inc		2,148
	60,752	*	Calpine Corp		1,389
	28,584		Camden Property Trust		2,233
	25,054	*	Cameron International Corp		1,130
	37,189	e	Campbell Soup Co		1,731
	193,902		Capital One Financial Corp		15,283
	150,972		Cardinal Health, Inc		13,628
	191,000		Carlisle Cos, Inc		17,692
	69,342	*	Carmax, Inc		4,785
	75,193		Carnival Corp		3,597
	9,820		Carnival plc		480
	100,000		Carter’s, Inc		9,247
	61,871	*	Catamaran Corp (Toronto)		3,683
	104,648		Caterpillar, Inc		8,375
	818,895	*	CBRE Group, Inc		31,699
	500,844		CBS Corp (Class B)		30,366
	210,000		CDW Corp		7,820
	31,239		Celanese Corp (Series A)		1,745
	786,625	*	Celgene Corp		90,682
	113,973		Centerpoint Energy, Inc		2,326
	128,168		CenturyTel, Inc		4,428
	64,019	*	Cerner Corp		4,690

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	70,326		CF Industries Holdings, Inc	$	19,950
	44,512	e	CH Robinson Worldwide, Inc		3,259
	710,588		Charles Schwab Corp		21,630
	18,481	*	Charter Communications, Inc		3,569
	40,000	e	Chemed Corp		4,776
	118,934	*	Cheniere Energy, Inc		9,206
	105,145	e	Chesapeake Energy Corp		1,489
	950,784		Chevron Corp		99,813
	12,254	e	Chicago Bridge & Iron Co NV		604
	14,231	*	Chipotle Mexican Grill, Inc (Class A)		9,258
	25,628		Chubb Corp		2,591
	74,090		Church & Dwight Co, Inc		6,329
	751,700	*	Ciena Corp		14,515
	150,126		Cigna Corp		19,432
	20,065		Cimarex Energy Co		2,309
	23,604		Cincinnati Financial Corp		1,258
	31,832		Cintas Corp		2,598
	3,238,416		Cisco Systems, Inc		89,137
	39,395		CIT Group, Inc		1,778
	988,736		Citigroup, Inc		50,940
	51,218	*	Citrix Systems, Inc		3,271
	233,800	e	Cliffs Natural Resources, Inc		1,125
	51,502		Clorox Co		5,685
	50,558		CME Group, Inc		4,788
	978,055		CMS Energy Corp		34,144
	118,366		Coach, Inc		4,904
	48,108	*	Cobalt International Energy, Inc		453
	1,344,816		Coca-Cola Co		54,532
	26,889		Coca-Cola Enterprises, Inc		1,189
	113,443	*	Cognizant Technology Solutions Corp (Class A)		7,078
	96,305		Colgate-Palmolive Co		6,678
	999,362	*	Columbia Pipeline Partners LP		27,672
	2,446,165		Comcast Corp (Class A)		138,135
	152,490	e	Comcast Corp (Special Class A)		8,549
	21,663		Comerica, Inc		978
	200,000	*	CommScope Holding Co, Inc		5,708
	100,000	*	Community Health Systems, Inc		5,228
	156,595		Computer Sciences Corp		10,223
	66,232		ConAgra Foods, Inc		2,419
	532,465	*	Concho Resources, Inc		61,723
	221,118		ConocoPhillips		13,767
	300,000		Conseco, Inc		5,166
	29,916		Consol Energy, Inc		834
	62,824		Consolidated Edison, Inc		3,832
	264,524	*	Constellation Brands, Inc (Class A)		30,740
	116,878	*	Continental Resources, Inc		5,104
	35,638		Cooper Cos, Inc		6,679
	19,601	e	Core Laboratories NV		2,048
	234,363		Corning, Inc		5,315
	145,997		Costco Wholesale Corp		22,118
	15,456	*,e	Cree, Inc		549
	74,775		Crown Castle International Corp		6,172

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	544,998	*	Crown Holdings, Inc	$	29,441
	1,600,824		CSX Corp		53,019
	136,418		Cummins, Inc		18,913
	1,136,510		CVS Corp		117,299
	40,600		Cytec Industries, Inc		2,194
	240,000		Dana Holding Corp		5,078
	172,671		Danaher Corp		14,660
	80,704		Darden Restaurants, Inc		5,596
	117,378	*	DaVita, Inc		9,541
	43,054	e	Deere & Co		3,775
	527,700		Delta Air Lines, Inc		23,725
	110,000		Deluxe Corp		7,621
	21,661		Dentsply International, Inc		1,102
	73,011		Devon Energy Corp		4,403
	21,721	e	Diamond Offshore Drilling, Inc		582
	324,186	*	Diamondback Energy, Inc		24,910
	77,094		Dick’s Sporting Goods, Inc		4,394
	38,861		Digital Realty Trust, Inc		2,563
	193,863	*	DIRECTV		16,498
	194,742		Discover Financial Services		10,974
	30,010	*	Discovery Communications, Inc (Class A)		923
	41,888	*	Discovery Communications, Inc (Class C)		1,235
	108,848	*	DISH Network Corp (Class A)		7,626
	131,894	*	Dollar General Corp		9,942
	69,480	*	Dollar Tree, Inc		5,638
	115,154		Dominion Resources, Inc		8,161
	17,686		Dover Corp		1,222
	586,810		Dow Chemical Co		28,155
	927,503		DR Horton, Inc		26,415
	112,225		Dr Pepper Snapple Group, Inc		8,807
	286,964		DSW, Inc (Class A)		10,583
	35,927		DTE Energy Co		2,899
	472,089		Du Pont (E.I.) de Nemours & Co		33,740
	80,780		Duke Energy Corp		6,202
	84,077		Duke Realty Corp		1,830
	7,443		Dun & Bradstreet Corp		955
	150,000	*	E*Trade Financial Corp		4,283
	687,795		East West Bancorp, Inc		27,828
	31,512		Eastman Chemical Co		2,183
	516,466		Eaton Corp		35,089
	14,011		Eaton Vance Corp		583
	865,239	*	eBay, Inc		49,907
	26,018		Ecolab, Inc		2,976
	73,284		Edison International		4,578
	32,141	*	Edwards Lifesciences Corp		4,579
	62,009	*	Electronic Arts, Inc		3,647
	271,234		Eli Lilly & Co		19,705
	1,843,299		EMC Corp		47,115
	54,078		Emerson Electric Co		3,062
	349,110	*	Endo International plc		31,315
	11,291		Energen Corp		745
	57,678		Energizer Holdings, Inc		7,962

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,784		Engility Holdings, Inc	$	54
	24,405	e	Ensco plc		514
	68,137		Entergy Corp		5,280
	1,024,907		EOG Resources, Inc		93,974
	16,945		EQT Corp		1,404
	18,579		Equifax, Inc		1,728
	11,084		Equinix, Inc		2,581
	78,118		Equity Residential		6,082
	15,919		Essex Property Trust, Inc		3,660
	80,429		Estee Lauder Cos (Class A)		6,689
	50,000	*	Esterline Technologies Corp		5,721
	120,000	*	Euronet Worldwide, Inc		7,050
	67,450		Everest Re Group Ltd		11,736
	137,891		Eversource Energy		6,966
	125,500		Exelon Corp		4,218
	341,104		Expedia, Inc		32,108
	19,147		Expeditors International of Washington, Inc		923
	120,896	*	Express Scripts Holding Co		10,490
	895,458		Extended Stay America, Inc		17,488
	451,000		Exterran Holdings, Inc		15,140
	1,314,562	d	Exxon Mobil Corp		111,738
	110,122	*	F5 Networks, Inc		12,657
	1,062,285	*	Facebook, Inc		87,336
	33,608		Family Dollar Stores, Inc		2,663
	27,446	e	Fastenal Co		1,137
	21,393		Federal Realty Investment Trust		3,149
	166,111		FedEx Corp		27,483
	68,166		Fidelity National Information Services, Inc		4,639
	122,809		Fifth Third Bancorp		2,315
	10,477	*,e	FireEye, Inc		411
	32,864		First Republic Bank		1,876
	102,466		FirstEnergy Corp		3,592
	104,189	*	Fiserv, Inc		8,273
	56,009	*	FleetCor Technologies, Inc		8,453
	621,157	*	Flextronics International Ltd		7,873
	26,689		Flir Systems, Inc		835
	62,455		Flowserve Corp		3,528
	16,684		Fluor Corp		954
	349,192		FMC Corp		19,991
	25,269	*	FMC Technologies, Inc		935
	20,920		FNF Group		769
	149,659		Foot Locker, Inc		9,429
	395,052		Ford Motor Co		6,376
	362,670		Fortune Brands Home & Security, Inc		17,220
	4,005	*	Fossil Group, Inc		330
	32,031		Franklin Resources, Inc		1,644
	86,588		Freeport-McMoRan Copper & Gold, Inc (Class B)		1,641
	329,441	e	Frontier Communications Corp		2,323
	211,888	e	GameStop Corp (Class A)		8,043
	100,000		Gaming and Leisure Properties, Inc		3,687
	36,276		Gap, Inc		1,572
	17,602	e	Garmin Ltd		836

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	111,951		General Dynamics Corp	$	15,195
	2,734,205		General Electric Co		67,836
	122,471		General Growth Properties, Inc		3,619
	68,772		General Mills, Inc		3,893
	18,159,000	*,m	General Motors Co		0	^
	18,106,794	*,e,m	General Motors Co		0	^
	4,461,000	*,m	General Motors Co		0	^
	530,757	*,m	General Motors Co		0	^
	19,417,463	*,m	General Motors Co		0	^
	61,921,000	*,e,m	General Motors Co		0	^
	69,850,000	*,m	General Motors Co		0	^
	13,592,224	*,m	General Motors Co		0	^
	26,439,985	*,m	General Motors Co		0	^
	101,353		General Motors Co		3,801
	29,845,445	*,m	General Motors Co		0	^
	300,000		Gentex Corp		5,490
	20,574		Genuine Parts Co		1,917
	61,458	*	Genworth Financial, Inc (Class A)		449
	1,095,126	*	Gilead Sciences, Inc		107,465
	120,000		Global Payments, Inc		11,002
	101,017		Goldman Sachs Group, Inc		18,988
	251,094	*	Google, Inc		137,600
	90,644	*	Google, Inc (Class A)		50,280
	650,000	*	Groupon, Inc		4,687
	28,083		H&R Block, Inc		901
	396,594		Halliburton Co		17,403
	353,221		Hanesbrands, Inc		11,836
	28,343		Harley-Davidson, Inc		1,722
	26,074		Harris Corp		2,054
	153,159		Hartford Financial Services Group, Inc		6,405
	20,926	e	Hasbro, Inc		1,323
	288,670	*	HCA Holdings, Inc		21,717
	71,541		HCP, Inc		3,091
	586,000	*	HD Supply Holdings, Inc		18,257
	82,190		Health Care REIT, Inc		6,358
	160,000	*	Health Net, Inc		9,678
	170,000		Healthsouth Corp		7,541
	13,481		Helmerich & Payne, Inc		918
	19,274	*	Henry Schein, Inc		2,691
	45,000	*,e	Herbalife Ltd		1,924
	42,009		Hershey Co		4,239
	1,153,849	*	Hertz Global Holdings, Inc		25,015
	125,181		Hess Corp		8,496
	873,500		Hewlett-Packard Co		27,218
	72,409	*	Hilton Worldwide Holdings, Inc		2,145
	26,903		HollyFrontier Corp		1,083
	295,998	*	Hologic, Inc		9,775
	1,404,251		Home Depot, Inc		159,537
	1,161,811		Honeywell International, Inc		121,188
	35,319		Hormel Foods Corp		2,008
	49,066	*	Hospira, Inc		4,310

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	149,097		Host Marriott Corp	$	3,009
	103,069		Hudson City Bancorp, Inc		1,080
	137,934		Humana, Inc		24,555
	1,202,815		Huntington Bancshares, Inc		13,291
	60,000		Huntington Ingalls		8,409
	60,000		Icahn Enterprises LP		5,380
	11,274	*	IHS, Inc (Class A)		1,283
	57,784		Illinois Tool Works, Inc		5,613
	59,112	*	Illumina, Inc		10,974
	14,653	*	Incyte Corp		1,343
	267,701		Ingersoll-Rand plc		18,225
	45,000		Ingredion, Inc		3,502
	182,920	*	Inovalon Holdings, Inc		5,526
	19,090		Integrys Energy Group, Inc		1,375
	1,936,545		Intel Corp		60,556
	161,415		IntercontinentalExchange Group, Inc		37,653
	310,632		International Business Machines Corp		49,856
	22,177		International Flavors & Fragrances, Inc		2,604
	38,996		International Paper Co		2,164
	182,558		Interpublic Group of Cos, Inc		4,038
	272,352		Intuit, Inc		26,407
	16,041	*	Intuitive Surgical, Inc		8,101
	150,939		Invesco Ltd		5,991
	24,638	e	Iron Mountain, Inc		899
	263,134	e	iShares MSCI Canada Index Fund		7,152
	1,181,972		iShares MSCI EAFE Index Fund		75,847
	8,228	*,e	Isis Pharmaceuticals, Inc		524
	140,000		ITT Corp		5,587
	15,343		J.B. Hunt Transport Services, Inc		1,310
	19,305		J.M. Smucker Co		2,234
	17,928	*	Jacobs Engineering Group, Inc		810
	868,093	*	Jarden Corp		45,922
	95,368	*	Jazz Pharmaceuticals plc		16,479
	1,007,701		Johnson & Johnson		101,375
	120,818		Johnson Controls, Inc		6,094
	52,761		Joy Global, Inc		2,067
	1,347,311		JPMorgan Chase & Co		81,620
	64,521		Juniper Networks, Inc		1,457
	10,783		Kansas City Southern Industries, Inc		1,101
	38,359		Kellogg Co		2,530
	50,000		Kennametal, Inc		1,685
	37,142		Keurig Green Mountain, Inc		4,150
	1,379,875		Keycorp		19,539
	78,194		Kimberly-Clark Corp		8,375
	49,624		Kimco Realty Corp		1,332
	431,550		Kinder Morgan, Inc		18,151
	16,208		Kla-Tencor Corp		945
	70,897		Kohl’s Corp		5,548
	328,576		Kraft Foods Group, Inc		28,624
	250,743		Kroger Co		19,222
	97,217		L Brands, Inc		9,167
	14,710		L-3 Communications Holdings, Inc		1,850

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	187,634	*	Laboratory Corp of America Holdings	$	23,659
	218,402		Lam Research Corp		15,339
	48,900		Las Vegas Sands Corp		2,691
	90,000		Lazard Ltd (Class A)		4,733
	95,000		Lear Corp		10,528
	453,864		Legg Mason, Inc		25,053
	18,462		Leggett & Platt, Inc		851
	16,782		Lennar Corp (Class A)		869
	156,976	e	Lennox International, Inc		17,533
	38,783		Leucadia National Corp		864
	163,071	*	Level 3 Communications, Inc		8,780
	130,000		Lexmark International, Inc (Class A)		5,504
	90,945	*	Liberty Interactive Corp		2,655
	28,838	*	Liberty Media Corp		1,112
	18,529	*	Liberty Media Corp (Class C)		708
	34,160		Liberty Property Trust		1,220
	234,599		Lincoln National Corp		13,480
	28,251		Linear Technology Corp		1,322
	95,069	*	LinkedIn Corp		23,754
	44,471	*	LKQ Corp		1,137
	51,367		Lockheed Martin Corp		10,425
	46,697		Loews Corp		1,907
	83,804		Lorillard, Inc		5,477
	172,778		Lowe’s Companies, Inc		12,853
	221,899	*	Lululemon Athletica, Inc		14,206
	135,708		LyondellBasell Industries AF S.C.A		11,915
	14,091		M&T Bank Corp		1,790
	32,884		Macerich Co		2,773
	711,170		Macy’s, Inc		46,162
	78,950	*	Mallinckrodt plc		9,999
	82,018		Manpower, Inc		7,066
	279,952		Marathon Oil Corp		7,310
	104,095		Marathon Petroleum Corp		10,658
	346,728		Marriott International, Inc (Class A)		27,849
	942,650		Marsh & McLennan Cos, Inc		52,873
	7,449		Martin Marietta Materials, Inc		1,041
	580,277		Marvell Technology Group Ltd		8,530
	39,720		Masco Corp		1,061
	120,000	*	Mastec, Inc		2,316
	238,923		Mastercard, Inc (Class A)		20,641
	680,657		Mattel, Inc		15,553
	32,568		Maxim Integrated Products, Inc		1,134
	36,251		McCormick & Co, Inc		2,795
	183,723		McDonald’s Corp		17,902
	52,557		McGraw-Hill Financial, Inc		5,434
	404,960		McKesson Corp		91,602
	679	e	MDC Holdings, Inc		19
	100,000		MDC Partners, Inc		2,835
	29,033		MDU Resources Group, Inc		620
	64,017		Mead Johnson Nutrition Co		6,436
	40,212		MeadWestvaco Corp		2,005

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	15,137	*	Medivation, Inc	$	1,954
	893,471		Medtronic plc		69,682
	190,000		Mentor Graphics Corp		4,566
	1,802,040		Merck & Co, Inc		103,581
	519,113	*,e	Merrimack Pharmaceuticals, Inc		6,167
	1,112,167		Metlife, Inc		56,220
	6,306	*	Mettler-Toledo International, Inc		2,072
	350,000	*	MGIC Investment Corp		3,371
	749,710	*,e	MGM Mirage		15,766
	91,335	*	Michael Kors Holdings Ltd		6,005
	22,109	e	Microchip Technology, Inc		1,081
	640,969	*	Micron Technology, Inc		17,390
	2,688,485		Microsoft Corp		109,300
	28,835	*	Mobileye NV		1,212
	120,290	*	Mohawk Industries, Inc		22,344
	63,936		Molson Coors Brewing Co (Class B)		4,760
	1,939,561		Mondelez International, Inc		69,999
	172,729		Monsanto Co		19,439
	209,363	*	Monster Beverage Corp		28,975
	56,912		Moody’s Corp		5,907
	1,551,218		Morgan Stanley		55,363
	36,976		Mosaic Co		1,703
	46,361		Motorola, Inc		3,091
	40,607		Murphy Oil Corp		1,892
	718,085	*	Mylan NV		42,618
	40,595		Nabors Industries Ltd		554
	20,386		NASDAQ OMX Group, Inc		1,038
	99,667		National Oilwell Varco, Inc		4,982
	80,196		Navient Corp		1,630
	227,998		NetApp, Inc		8,085
	14,728	*	NetFlix, Inc		6,137
	4,719	*,e	NetSuite, Inc		438
	105,606	e	New York Community Bancorp, Inc		1,767
	1,231,380		Newell Rubbermaid, Inc		48,110
	163,466		Newmont Mining Corp		3,549
	33,556	*	News Corp		537
	697,492		NextEra Energy, Inc		72,574
	69,991		Nielsen Holdings NV		3,120
	315,775		Nike, Inc (Class B)		31,682
	75,089		NiSource, Inc		3,316
	26,661	e	Noble Corp plc		381
	40,986		Noble Energy, Inc		2,004
	41,063		Nordstrom, Inc		3,298
	142,938		Norfolk Southern Corp		14,711
	50,115		Northern Trust Corp		3,491
	132,423		Northrop Grumman Corp		21,315
	14,891	*	Norwegian Cruise Line Holdings Ltd		804
	48,293		NRG Energy, Inc		1,217
	84,864	*	Nuance Communications, Inc		1,218
	30,498		Nucor Corp		1,450
	249,944		Nvidia Corp		5,230
	10,645	*	NVR, Inc		14,144

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	792,482		Occidental Petroleum Corp	$	57,851
	298,054		Oceaneering International, Inc		16,074
	31,554		OGE Energy Corp		997
	147,260		Omnicare, Inc		11,348
	50,918		Omnicom Group, Inc		3,971
	23,436		Oneok, Inc		1,131
	2,795,420		Oracle Corp		120,622
	41,073	*	O’Reilly Automotive, Inc		8,882
	130,000		Oshkosh Truck Corp		6,343
	630,229		Owens Corning, Inc		27,352
	19,905	*	Owens-Illinois, Inc		464
	49,593		Paccar, Inc		3,131
	90,000		Packaging Corp of America		7,037
	42,627		Pall Corp		4,279
	49,903	*	Palo Alto Networks, Inc		7,290
	173,866		Paramount Group, Inc		3,356
	90,000	*	Parexel International Corp		6,209
	22,391		Parker Hannifin Corp		2,660
	19,640		PartnerRe Ltd		2,245
	26,654		Patterson Cos, Inc		1,300
	37,503		Paychex, Inc		1,861
	101,607		People’s United Financial, Inc		1,544
	82,428		Pepco Holdings, Inc		2,212
	1,139,331		PepsiCo, Inc		108,943
	101,817		Perrigo Co plc		16,856
	4,926,546		Pfizer, Inc		171,395
	69,664		PG&E Corp		3,697
	12,590	*	Pharmacyclics, Inc		3,222
	259,965		Philip Morris International, Inc		19,583
	222,855		Phillips 66		17,516
	11,336		Phillips-Van Heusen Corp		1,208
	400,000	e	Pilgrim’s Pride Corp		9,036
	1,129,915		Pinnacle Foods, Inc		46,112
	31,672		Pinnacle West Capital Corp		2,019
	117,715		Pioneer Natural Resources Co		19,248
	26,125		Plum Creek Timber Co, Inc		1,135
	74,536		PNC Financial Services Group, Inc		6,950
	14,710		Polaris Industries, Inc		2,076
	128,578		PPG Industries, Inc		29,000
	99,039		PPL Corp		3,334
	75,000	*,e	PRA Group, Inc		4,074
	34,437		Praxair, Inc		4,158
	14,720		Precision Castparts Corp		3,091
	13,520	*	Priceline.com, Inc		15,739
	28,601		Principal Financial Group		1,469
	733,141		Procter & Gamble Co		60,074
	72,487		Progressive Corp		1,972
	46,578		Prologis, Inc		2,029
	148,077		Prudential Financial, Inc		11,892
	125,369		Public Service Enterprise Group, Inc		5,255
	57,609		Public Storage, Inc		11,357
	365,190		Pulte Homes, Inc		8,118

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	12,067	*	Qiagen NV	$	303
	10,102	*	Qorvo, Inc		805
	199,130		Qualcomm, Inc		13,808
	25,004	*	Quanta Services, Inc		713
	47,244		Quest Diagnostics, Inc		3,631
	31,586		Questar Market Resources, Inc		659
	6,576	*	Quintiles Transnational Holdings, Inc		440
	34,511	*	Rackspace Hosting, Inc		1,780
	195,000	e	Radian Group, Inc		3,274
	13,779		Ralph Lauren Corp		1,812
	65,035	e	Range Resources Corp		3,384
	14,732		Raymond James Financial, Inc		837
	37,797		Rayonier, Inc		1,019
	41,561		Raytheon Co		4,541
	668,643	*	Realogy Holdings Corp		30,410
	45,692	e	Realty Income Corp		2,358
	19,402	*	Red Hat, Inc		1,470
	24,418		Regency Centers Corp		1,661
	14,271	*	Regeneron Pharmaceuticals, Inc		6,443
	161,754		Regions Financial Corp		1,529
	60,000		Reinsurance Group of America, Inc (Class A)		5,591
	13,552		RenaissanceRe Holdings Ltd		1,352
	50,000	*,e	Rentrak Corp		2,778
	109,862		Republic Services, Inc		4,456
	19,854	e	Resmed, Inc		1,425
	112,736		Reynolds American, Inc		7,769
	30,533		Robert Half International, Inc		1,848
	32,046		Rock-Tenn Co (Class A)		2,067
	26,651		Rockwell Automation, Inc		3,091
	522,127		Rockwell Collins, Inc		50,411
	72,157		Roper Industries, Inc		12,411
	45,175		Ross Stores, Inc		4,760
	77,199		Royal Caribbean Cruises Ltd		6,319
	112,356	*	RSP Permian, Inc		2,830
	45,000		Ryder System, Inc		4,270
	295,939	*	Salesforce.com, Inc		19,772
	30,264	*,e	Salix Pharmaceuticals Ltd		5,230
	64,156		SanDisk Corp		4,082
	200,000	*	Sanmina Corp		4,838
	99,771	*	SBA Communications Corp (Class A)		11,683
	47,411		SCANA Corp		2,607
	283,652		Schlumberger Ltd		23,668
	18,935	e	Scripps Networks Interactive (Class A)		1,298
	685,237		Seagate Technology, Inc		35,653
	934,378		Sealed Air Corp		42,570
	35,123		SEI Investments Co		1,549
	282,185		Sempra Energy		30,764
	22,919	*	Sensata Technologies Holding BV		1,317
	236,073	*	ServiceNow, Inc		18,598
	34,029		Sherwin-Williams Co		9,681
	30,829		Sigma-Aldrich Corp		4,262
	149,554		Simon Property Group, Inc		29,259

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	214,931	*	Sirius XM Holdings, Inc	$	821
	90,000	*	Skechers U.S.A., Inc (Class A)		6,472
	206,366		Skyworks Solutions, Inc		20,284
	22,906		SL Green Realty Corp		2,941
	28,500		Snap-On, Inc		4,191
	126,048		Southern Co		5,581
	405,982		Southwest Airlines Co		17,985
	193,024	*,e	Southwestern Energy Co		4,476
	63,507		Spectra Energy Corp		2,297
	88,511	*,e	Sprint Corp		420
	6,994		SPX Corp		594
	65,384		St. Jude Medical, Inc		4,276
	53,873		Stanley Works		5,137
	212,320		Staples, Inc		3,458
	120,320		Starbucks Corp		11,394
	17,765		Starwood Hotels & Resorts Worldwide, Inc		1,483
	145,000	*	Starz-Liberty Capital		4,989
	249,057		State Street Corp		18,313
	220,000		Steel Dynamics, Inc		4,422
	50,840	*	Stericycle, Inc		7,139
	52,996		Stryker Corp		4,889
	105,153		SunTrust Banks, Inc		4,321
	41,823		Superior Energy Services		934
	160,816		Symantec Corp		3,757
	200,449	*	Synchrony Financial		6,084
	36,907	*	Synopsys, Inc		1,710
	64,019		Sysco Corp		2,415
	22,946		T Rowe Price Group, Inc		1,858
	180,000	*	Take-Two Interactive Software, Inc		4,582
	579,561		Target Corp		47,565
	67,600		TCF Financial Corp		1,063
	57,777		TD Ameritrade Holding Corp		2,153
	74,000	*	Tech Data Corp		4,275
	60,836	*	Tenneco, Inc		3,493
	27,945	*	Teradata Corp		1,234
	70,212	*,e	Tesla Motors, Inc		13,254
	48,910		Tesoro Corp		4,465
	191,599		Texas Instruments, Inc		10,957
	80,329		Textron, Inc		3,561
	395,554		Thermo Electron Corp		53,139
	137,525		Thomson Corp (Toronto)		5,576
	193,609		Tiffany & Co		17,040
	108,248		Time Warner Cable, Inc		16,224
	1,074,026		Time Warner, Inc		90,691
	156,346		TJX Companies, Inc		10,952
	110,240	*	T-Mobile US, Inc		3,494
	25,866	*	Toll Brothers, Inc		1,018
	23,913		Torchmark Corp		1,313
	31,699		Total System Services, Inc		1,209
	9,338		Towers Watson & Co		1,234
	27,234		Tractor Supply Co		2,317
	16,270		TransDigm Group, Inc		3,559

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	19,022	e	Transocean Ltd	$	274
	31,543		Travelers Cos, Inc		3,411
	33,553	*	Trimble Navigation Ltd		846
	240,000		Trinity Industries, Inc		8,522
	11,033	*	TripAdvisor, Inc		918
	28,297	*	TRW Automotive Holdings Corp		2,967
	271,465	*,e	Tumi Holdings, Inc		6,640
	97,318		Twenty-First Century Fox, Inc		3,293
	34,549		Twenty-First Century Fox, Inc (Class B)		1,136
	29,419	*	Twitter, Inc		1,473
	1,055,837		Tyco International plc		45,464
	450,095		Tyson Foods, Inc (Class A)		17,239
	251,790	*	UAL Corp		16,933
	57,824		UDR, Inc		1,968
	34,784	*	Ulta Salon Cosmetics & Fragrance, Inc		5,247
	24,814	*	Under Armour, Inc (Class A)		2,004
	589,303		Union Pacific Corp		63,827
	126,325		United Parcel Service, Inc (Class B)		12,246
	62,977	*	United Rentals, Inc		5,741
	140,000	e	United States Steel Corp		3,416
	378,476		United Technologies Corp		44,357
	189,641		UnitedHealth Group, Inc		22,433
	25,225		Universal Health Services, Inc (Class B)		2,969
	44,081		UnumProvident Corp		1,487
	24,119	*	Urban Outfitters, Inc		1,101
	405,400		US Bancorp		17,704
	15,613	e	US Silica Holdings Inc		556
	229,805	*,e	USG Corp		6,136
	195,872	*	Valeant Pharmaceuticals International, Inc		38,695
	440,903		Valero Energy Corp		28,050
	50,000	e	Vanguard FTSE Developed Markets ETF		1,992
	542,096	*	Vantiv, Inc		20,437
	17,937	*	Varian Medical Systems, Inc		1,688
	146,516		Ventas, Inc		10,699
	90,000	*	Verint Systems, Inc		5,574
	21,240	*,e	VeriSign, Inc		1,422
	80,871	*	Verisk Analytics, Inc		5,774
	2,000,418		Verizon Communications, Inc		97,280
	42,196	*	Vertex Pharmaceuticals, Inc		4,978
	242,435		VF Corp		18,258
	440,939		Viacom, Inc (Class B)		30,116
	47,492	*,e	Virgin America, Inc		1,444
	1,951,265		Visa, Inc (Class A)		127,632
	377,434	*	VMware, Inc (Class A)		30,953
	305,035		Vornado Realty Trust		34,164
	117,196		Voya Financial, Inc		5,052
	28,586		Vulcan Materials Co		2,410
	31,259		W.R. Berkley Corp		1,579
	22,129	e	W.W. Grainger, Inc		5,218
	89,521		Walgreens Boots Alliance, Inc		7,581
	419,737		Wal-Mart Stores, Inc		34,523
	909,740		Walt Disney Co		95,423

231

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	87,018		Waste Management, Inc	$	4,719
	19,263	*	Waters Corp		2,395
	1,358,124	*	Weatherford International Ltd		16,705
	4,202,534		Wells Fargo & Co		228,618
	175,004		Western Digital Corp		15,927
	76,444	e	Western Union Co		1,591
	53,373		Westinghouse Air Brake Technologies Corp		5,071
	13,656		Westlake Chemical Corp		982
	74,995		Weyerhaeuser Co		2,486
	25,311		Whirlpool Corp		5,114
	245,200	*	WhiteWave Foods Co (Class A)		10,872
	100,011	*	Whiting Petroleum Corp		3,090
	78,625		Whole Foods Market, Inc		4,095
	206,113		Williams Cos, Inc		10,427
	173,000		Williams-Sonoma, Inc		13,790
	51,726		Willis Group Holdings plc		2,492
	62,208	e	Windstream Holdings, Inc		460
	73,797		Wisconsin Energy Corp		3,653
	94,604	*	Workday, Inc		7,986
	200,000		WP GLIMCHER, Inc		3,326
	50,000	*	WR Grace & Co		4,944
	58,806		Wyndham Worldwide Corp		5,320
	9,164		Wynn Resorts Ltd		1,154
	164,834		Xcel Energy, Inc		5,738
	833,492		Xerox Corp		10,710
	29,506		Xilinx, Inc		1,248
	44,629		Xylem, Inc		1,563
	1,495,274	*	Yahoo!, Inc		66,442
	51,527		Yum! Brands, Inc		4,056
	3,425	*,e	Zillow Group, Inc		344
	33,789		Zimmer Holdings, Inc		3,971
	442,800		Zoetis Inc		20,497
			TOTAL UNITED STATES		10,987,142
			TOTAL COMMON STOCKS		19,362,283
			(Cost $16,875,819)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	681,005	m	BGP Holdings plc		0	^
			TOTAL AUSTRALIA		0	^
SPAIN - 0.0%
	319,484		Banco Bilbao Vizcaya Argentaria S.A.		46
	176,210	e	Banco de Sabadell S.A.		45
	529,576		Telefonica S.A.		85
			TOTAL SPAIN		176
UNITED STATES - 0.0%
	21,280		Kinder Morgan, Inc		87
			TOTAL UNITED STATES		87
			TOTAL RIGHTS / WARRANTS		263
			(Cost $86)

232

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
SHORT-TERM INVESTMENTS - 3.6%
GOVERNMENT AGENCY DEBT - 0.4%
$	10,000,000		Federal Home Loan Bank (FHLB)		0.050	%	04/29/15	$	10,000
	30,000,000	d	FHLB		0.060		05/11/15		29,998
	20,000,000	d	FHLB		0.067		06/03/15		19,998
	20,000,000		FHLB		0.060		05/08/15		19,999
			TOTAL GOVERNMENT AGENCY DEBT						79,995
TREASURY DEBT - 0.6%
	2,000,000	d	United States Treasury Bill		0.080		04/02/15		2,000
	1,300,000	d	United States Treasury Bill		0.095		04/30/15		1,300
	2,200,000	d	United States Treasury Bill		0.053		05/07/15		2,200
	6,750,000	d	United States Treasury Bill		0.091-0.092		05/28/15		6,750
	53,000,000	d	United States Treasury Bill		0.065-0.070		08/27/15		52,983
	33,000,000	d	United States Treasury Bill		0.093-0.113		09/17/15		32,984
	14,000,000	d	United States Treasury Bill		0.100		10/15/15		13,990
			TOTAL TREASURY DEBT						112,207
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.6%
CERTIFICATE OF DEPOSIT - 0.3%
	15,000,000		Bank of Montreal		0.010		04/01/15		15,000
	25,000,000		CIBC Bank and Trust Co		0.020		04/01/15		25,000
	25,000,000		National Australia Bank Ltd		0.030		04/01/15		25,000
			TOTAL CERTIFICATE OF DEPOSIT						65,000
REPURCHASE AGREEMENT - 2.1%
	15,000,000	n	Barclays		0.100		04/01/15		15,000
	40,000,000	o	BNP		0.100		04/01/15		40,000
	65,000,000	p	Calyon		0.130		04/01/15		65,000
	50,000,000	q	Goldman Sachs		0.130		04/01/15		50,000
	150,000,000	r	Merrill Lynch		0.050		04/01/15		150,000
	100,000,000	s	Societe Generale		0.140		04/01/15		100,000
			TOTAL REPURCHASE AGREEMENT						420,000
VARIABLE RATE SECURITIES - 0.2%
	1,108,043	i	Granite Master Issuer plc 2006		0.376		12/20/50		1,103
	949,752	i	Granite Master Issuer plc 2007		0.376		12/20/50		945
	1,039,390	i	Puma Finance Ltd		0.402		02/21/38		1,029
	30,000,000	i	SLM Student Loan Trust 2007		0.296		01/25/19		29,768
	1,023,685	i	SLM Student Loan Trust 2008		0.606		10/25/16		1,024
			TOTAL VARIABLE RATE SECURITIES						33,869
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						518,869

233

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

	VALUE (000)
TOTAL SHORT-TERM INVESTMENTS	$	711,071
(Cost $711,239)
TOTAL INVESTMENTS - 102.5%		20,073,617
(Cost $17,587,144)
OTHER ASSETS & LIABILITIES, NET - (2.5)%		(493,468	)
NET ASSETS - 100.0%	$	19,580,149

	Abbreviation(s):
ADR	American Depositary Receipt
ETF	Exchange Traded Fund
REIT	Real Estate Investment Trust
*	Non-income producing.
^	Amount represents less than $1,000.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures transactions.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $521,144,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 03/31/15 the aggregate value of these securities was $17,806,000, or 0.1% of net assets.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
m	Indicates a security that has been deemed illiquid.
n	Agreement with Barclays, 0.10% dated 03/31/15 to be repurchased at $15,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $15,300,000.
o	Agreement with BNP, 0.10% dated 03/31/15 to be repurchased at $40,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $40,800,000.
p	Agreement with Calyon 0.13% dated 03/31/15 to be repurchased at $65,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $66,300,000.
q	Agreement with Goldman Sachs, 0.13% dated 03/31/15 to be repurchased at $50,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $51,001,000.
r	Agreement with Merrill Lynch, 0.05% dated 03/31/15 to be repurchased at $150,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $153,000,000.
s	Agreement with Societe Generale, 0.14% dated 03/31/15 to be repurchased at $100,000,000 on 04/01/15, collateralized by U.S. Government Agency Securities valued at $102,000,000.
	Cost amounts are in thousands.

234

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

March 31, 2015

	VALUE			% OF
SECTOR	(000)			ASSETS
FINANCIALS	$	3,659,840			18.6	%
CONSUMER DISCRETIONARY		3,103,288			15.9
INFORMATION TECHNOLOGY		3,012,668			15.4
HEALTH CARE		2,804,908			14.3
INDUSTRIALS		2,226,916			11.4
CONSUMER STAPLES		1,482,287			7.6
ENERGY		1,277,879			6.5
MATERIALS		945,852			4.8
UTILITIES		446,861			2.3
TELECOMMUNICATION SERVICES		402,047			2.1
SHORT-TERM INVESTMENTS		711,071			3.6
OTHER ASSETS & LIABILITES, NET		(493,468	)		(2.5	)
NET ASSETS	$	19,580,149			100.0	%

235

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND

GROWTH ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2015

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.4%
AUTOMOBILES & COMPONENTS - 1.7%
	93,965		BorgWarner, Inc	$	5,683
	821,647		Delphi Automotive plc		65,518
	1,250,000		General Motors Co		46,875
	812,204		Gentex Corp		14,863
	571,091		Goodyear Tire & Rubber Co		15,465
	172,765		Harley-Davidson, Inc		10,494
	73,923		Johnson Controls, Inc		3,729
	517,908		Lear Corp		57,395
	440,800		Magna International, Inc (Class A) (NY)		23,653
	159,937	*,e	Mobileye NV		6,722
	166,456		Renault S.A.		15,119
	108,710	*	Tenneco, Inc		6,242
	466,380	*,e	Tesla Motors, Inc		88,039
	105,199		Thor Industries, Inc		6,650
			TOTAL AUTOMOBILES & COMPONENTS		366,447
BANKS - 0.3%
	1,606,300		Huntington Bancshares, Inc		17,750
	8,500	*,e	Nationstar Mortgage Holdings, Inc		210
	42,021	*,e	Ocwen Financial Corp		347
	76,795	*	Signature Bank		9,951
	55,878	*	SVB Financial Group		7,099
	548,500		Wells Fargo & Co		29,838
			TOTAL BANKS		65,195
CAPITAL GOODS - 5.1%
	1,026,394		3M Co		169,304
	14,942		A.O. Smith Corp		981
	49,705		Acuity Brands, Inc		8,358
	3,868		Air Lease Corp		146
	40,327		Allegion plc		2,467
	115,106		Allison Transmission Holdings, Inc		3,676
	252,389		Ametek, Inc		13,260
	20,159	*	Armstrong World Industries, Inc		1,158
	43,659	*	BE Aerospace, Inc		2,778
	803,982		Boeing Co		120,662
	54,706		Caterpillar, Inc		4,378
	42,332	e	Chicago Bridge & Iron Co NV		2,085
	40,685	*	Colfax Corp		1,942
	7,097		Crane Co		443
	76,801		Cummins, Inc		10,648
	133,754		Danaher Corp		11,356
	31,010	e	Deere & Co		2,719
	54,711		Donaldson Co, Inc		2,063

236

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	51,142		Dover Corp	$	3,535
	216,765		Emerson Electric Co		12,273
	124,469	e	Fastenal Co		5,157
	56,589		Flowserve Corp		3,197
	37,166		Fluor Corp		2,124
	329,505		Fortune Brands Home & Security, Inc		15,645
	94,200		General Dynamics Corp		12,786
	25,452		Graco, Inc		1,837
	46,223	*	HD Supply Holdings, Inc		1,440
	41,632		Hexcel Corp		2,141
	1,342,065		Honeywell International, Inc		139,991
	55,070		Hubbell, Inc (Class B)		6,037
	214,298		Huntington Ingalls		30,034
	29,963		IDEX Corp		2,272
	135,152		Illinois Tool Works, Inc		13,129
	390,657		Ingersoll-Rand plc		26,596
	9,339		ITT Corp		373
	23,256	*	KLX, Inc		896
	18,522	e	Lennox International, Inc		2,069
	11,298		Lincoln Electric Holdings, Inc		739
	273,839		Lockheed Martin Corp		55,578
	59,047		Manitowoc Co, Inc		1,273
	764,832		Masco Corp		20,421
	149,910	*	Middleby Corp		15,388
	21,636	*,e	MRC Global, Inc		256
	20,929		MSC Industrial Direct Co (Class A)		1,511
	4,576	*,e	Navistar International Corp		135
	27,191		Nordson Corp		2,130
	39,500		Northrop Grumman Corp		6,358
	8,591	*,e	NOW, Inc		186
	135,549		Paccar, Inc		8,559
	146,314		Pall Corp		14,688
	86,839		Parker Hannifin Corp		10,315
	5,582		Pentair plc		351
	60,473		Precision Castparts Corp		12,699
	21,681	*	Quanta Services, Inc		619
	148,331		Rockwell Automation, Inc		17,205
	49,368		Rockwell Collins, Inc		4,766
	437,095		Roper Industries, Inc		75,180
	348,045		Safran S.A.		24,318
	146,475		Snap-On, Inc		21,541
	17,933	*,e	SolarCity Corp		920
	232,901	*	Spirit Aerosystems Holdings, Inc (Class A)		12,160
	49,588		Stanley Works		4,729
	670,200		Textron, Inc		29,710
	3,124		Timken Co		132
	23,443		Toro Co		1,644
	21,822		TransDigm Group, Inc		4,773
	201,198		Trinity Industries, Inc		7,144
	5,242		Triumph Group, Inc		313
	240,128	*	United Rentals, Inc		21,890
	43,272		United Technologies Corp		5,071

237

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	42,406	*,e	USG Corp	$	1,132
	713	e	Valmont Industries, Inc		88
	537	*	Veritiv Corp		24
	376,654	e	W.W. Grainger, Inc		88,819
	100,415	*	WABCO Holdings, Inc		12,339
	142,455		Westinghouse Air Brake Technologies Corp		13,535
	54,780		Xylem, Inc		1,918
			TOTAL CAPITAL GOODS		1,140,513
COMMERCIAL & PROFESSIONAL SERVICES - 1.2%
	169,051		Cintas Corp		13,800
	19,940	*,e	Clean Harbors, Inc		1,132
	649,228	e	CNH Industrial NV (NYSE)		5,298
	47,325	*	Copart, Inc		1,778
	18,611		Covanta Holding Corp		417
	5,187		Dun & Bradstreet Corp		666
	27,309		Equifax, Inc		2,540
	28,087	*	IHS, Inc (Class A)		3,195
	105,788		KAR Auction Services, Inc		4,013
	118,700		Manpower, Inc		10,226
	86,997		Nielsen Holdings NV		3,877
	208,951		Pitney Bowes, Inc		4,873
	9,063		R.R. Donnelley & Sons Co		174
	56,716		Robert Half International, Inc		3,432
	39,631		Rollins, Inc		980
	513,593	*	Stericycle, Inc		72,124
	155,404		Tyco International plc		6,692
	1,910,782	*	Verisk Analytics, Inc		136,430
	31,287		Waste Connections, Inc		1,506
	21,097		Waste Management, Inc		1,144
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		274,297
CONSUMER DURABLES & APPAREL - 2.3%
	22,545		Carter’s, Inc		2,085
	112,668		Coach, Inc		4,668
	14,100	*	Deckers Outdoor Corp		1,027
	13,365		DR Horton, Inc		381
	349,473	*	Fossil Group, Inc		28,814
	27,617	*,e	GoPro, Inc		1,199
	731,447		Hanesbrands, Inc		24,511
	89,892		Harman International Industries, Inc		12,012
	41,116	e	Hasbro, Inc		2,600
	909,784	*	Jarden Corp		48,128
	160,302	*	Kate Spade & Co		5,352
	29,809		Leggett & Platt, Inc		1,374
	5,339		Lennar Corp (Class A)		277
	64,000		LVMH Moet Hennessy Louis Vuitton S.A.		11,263
	52,392		Mattel, Inc		1,197
	347,488	*	Michael Kors Holdings Ltd		22,847
	68,166		Newell Rubbermaid, Inc		2,663
	1,786,747		Nike, Inc (Class B)		179,264
	26,359	*	NVR, Inc		35,022

238

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	29,690		Phillips-Van Heusen Corp	$	3,164
	27,109		Polaris Industries, Inc		3,825
	18,410		Ralph Lauren Corp		2,421
	115,800	*	Skechers U.S.A., Inc (Class A)		8,327
	949,000		Sony Corp		25,380
	461,115	*	Tempur-Pedic International, Inc		26,625
	20,622		Tupperware Corp		1,423
	72,430	*	Under Armour, Inc (Class A)		5,849
	557,153		VF Corp		41,959
	2,879		Whirlpool Corp		582
			TOTAL CONSUMER DURABLES & APPAREL		504,239
CONSUMER SERVICES - 3.2%
	1,493,484		ARAMARK Holdings Corp		47,239
	27,612		Brinker International, Inc		1,700
	18,947	*	Chipotle Mexican Grill, Inc (Class A)		12,326
	1,195		Choice Hotels International, Inc		77
	23,300		Domino’s Pizza, Inc		2,343
	40,241		Dunkin Brands Group, Inc		1,914
	978,000		Extended Stay America, Inc		19,100
	113,292		H&R Block, Inc		3,633
	166,419	*	Hilton Worldwide Holdings, Inc		4,929
	509,334	*	Hyatt Hotels Corp		30,163
	715,000		Interval Leisure Group, Inc		18,740
	267,617		Las Vegas Sands Corp		14,730
	552,337		Marriott International, Inc (Class A)		44,364
	541,288		McDonald’s Corp		52,743
	4,704,937	g	Merlin Entertainments plc		30,803
	1,151,703	*,e	MGM Mirage		24,220
	1,677,644	*	Norwegian Cruise Line Holdings Ltd		90,609
	10,352	*,e	Panera Bread Co (Class A)		1,656
	714,056	*,e	Restaurant Brands International, Inc		27,427
	25,963		SeaWorld Entertainment, Inc		501
	69,723		Service Corp International		1,816
	11,752	*	ServiceMaster Global Holdings, Inc		397
	31,162		Six Flags Entertainment Corp		1,508
	1,909,986		Starbucks Corp		180,876
	33,071		Starwood Hotels & Resorts Worldwide, Inc		2,761
	284,430		Wyndham Worldwide Corp		25,732
	138,309		Wynn Resorts Ltd		17,410
	734,306		Yum! Brands, Inc		57,805
			TOTAL CONSUMER SERVICES		717,522
DIVERSIFIED FINANCIALS - 4.3%
	231,799	*	Affiliated Managers Group, Inc		49,786
	99,635	*	Ally Financial, Inc		2,090
	759,016		American Express Co		59,294
	880,854		Ameriprise Financial, Inc		115,251
	10,764		Artisan Partners Asset Management, Inc		489
	50,078		BlackRock, Inc		18,321
	630,100		Blackstone Group LP		24,505
	35,856		CBOE Holdings, Inc		2,058

239

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	2,333,036		Charles Schwab Corp	$	71,018
	287,100		Discover Financial Services		16,178
	50,529		Eaton Vance Corp		2,104
	29,676	e	Federated Investors, Inc (Class B)		1,006
	133,964		Franklin Resources, Inc		6,875
	473,675		IntercontinentalExchange Group, Inc		110,494
	427,561		Invesco Ltd		16,970
	909,500	e	iShares Russell 1000 Growth Index Fund		89,968
	356,266		Lazard Ltd (Class A)		18,736
	76,163		Legg Mason, Inc		4,204
	24,330		Leucadia National Corp		542
	37,350		LPL Financial Holdings, Inc		1,638
	1,276,551		McGraw-Hill Financial, Inc		131,995
	1,004,016		Moody’s Corp		104,217
	610,500		Morgan Stanley		21,789
	117,370		MSCI, Inc (Class A)		7,196
	15,104		NorthStar Asset Management Group, Inc		353
	145,489		Santander Consumer USA Holdings, Inc		3,367
	196,386		SEI Investments Co		8,659
	57,598		SLM Corp		534
	1,240,207	*	Synchrony Financial		37,640
	109,647		T Rowe Price Group, Inc		8,879
	315,814		TD Ameritrade Holding Corp		11,767
	35,428		Waddell & Reed Financial, Inc (Class A)		1,755
			TOTAL DIVERSIFIED FINANCIALS		949,678
ENERGY - 3.5%
	13,807		Anadarko Petroleum Corp		1,143
	22,523	*,e	Antero Resources Corp		796
	5,837		Atwood Oceanics, Inc		164
	152,349		Baker Hughes, Inc		9,686
	175,067		Cabot Oil & Gas Corp		5,170
	131,412	*	Cameron International Corp		5,929
	693,680	*	Cheniere Energy, Inc		53,691
	53,761	e	Chesapeake Energy Corp		761
	4,160		Cimarex Energy Co		479
	140,869	*	Cobalt International Energy, Inc		1,326
	827,545	*	Concho Resources, Inc		95,929
	205,929	*,e	Continental Resources, Inc		8,993
	2,580	e	CVR Energy, Inc		110
	1,531,600	e	Denbury Resources, Inc		11,165
	43,200	*	Diamondback Energy, Inc		3,320
	31,733	*	Dresser-Rand Group, Inc		2,550
	16,381	*	Dril-Quip, Inc		1,120
	1,833,171		EOG Resources, Inc		168,083
	56,605		EQT Corp		4,691
	97,073	*	FMC Technologies, Inc		3,593
	1,271		Frank’s International NV		24
	28,934	*	Gulfport Energy Corp		1,328
	794,478		Halliburton Co		34,862
	26,277	e	Helmerich & Payne, Inc		1,789
	14,650		HollyFrontier Corp		590

240

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	157,085		Kinder Morgan, Inc	$	6,607
	296,942	*	Kosmos Energy LLC		2,349
	32,143	*,e	Laredo Petroleum Holdings, Inc		419
	273,554		Marathon Petroleum Corp		28,009
	11,725	*	Memorial Resource Development Corp		208
	14,080		Nabors Industries Ltd		192
	14,511		National Oilwell Varco, Inc		725
	363,443		Noble Energy, Inc		17,772
	48,107	*,e	Oasis Petroleum, Inc		684
	86,126		Oceaneering International, Inc		4,645
	45,550		Oneok, Inc		2,197
	31,872		Patterson-UTI Energy, Inc		598
	10,224		PBF Energy, Inc		347
	211,420		Phillips 66		16,618
	207,449		Pioneer Natural Resources Co		33,920
	11,938		Questar Market Resources, Inc		249
	69,610	e	Range Resources Corp		3,623
	20,697	*,e	Rice Energy, Inc		450
	25,521		RPC, Inc		327
	1,791,675		Schlumberger Ltd		149,497
	45,696	e	Seadrill Ltd		427
	8,728	*	Seventy Seven Energy, Inc		36
	353,528	*,e	Southwestern Energy Co		8,198
	29,554		St. Mary Land & Exploration Co		1,527
	208,946		Superior Energy Services		4,668
	47,534		Targa Resources Investments, Inc		4,553
	9,502		Teekay Corp		443
	52,736		Tesoro Corp		4,814
	21,780	*,e	Ultra Petroleum Corp		340
	2,467	*	Unit Corp		69
	465,508		Valero Energy Corp		29,616
	320,320	*	Whiting Petroleum Corp		9,898
	653,285		Williams Cos, Inc		33,050
	6,118		World Fuel Services Corp		352
			TOTAL ENERGY		784,719
FOOD & STAPLES RETAILING - 2.2%
	907,720		Costco Wholesale Corp		137,515
	1,258,378		CVS Corp		129,877
	1,642,901		Kroger Co		125,945
	276,506	*	Rite Aid Corp		2,403
	42,454	*	Sprouts Farmers Market, Inc		1,496
	93,153		Sysco Corp		3,515
	836,167		Walgreens Boots Alliance, Inc		70,806
	67,763		Wal-Mart Stores, Inc		5,573
	67,818		Whole Foods Market, Inc		3,532
			TOTAL FOOD & STAPLES RETAILING		480,662
FOOD, BEVERAGE & TOBACCO - 4.2%
	2,407,002		Altria Group, Inc		120,398
	425,809		Archer Daniels Midland Co		20,183
	357,000		Associated British Foods plc		14,899

241

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	64,067		Brown-Forman Corp (Class B)	$	5,788
	48,382	e	Campbell Soup Co		2,252
	2,888,986		Coca-Cola Co		117,149
	305,071		Coca-Cola Enterprises, Inc		13,484
	101,477	*	Constellation Brands, Inc (Class A)		11,793
	525,898		Dr Pepper Snapple Group, Inc		41,272
	72,950		Flowers Foods, Inc		1,659
	256,564		General Mills, Inc		14,522
	38,781	*	Hain Celestial Group, Inc		2,484
	62,620		Hershey Co		6,319
	55,754		Hormel Foods Corp		3,170
	100,087		Ingredion, Inc		7,789
	98,208		Kellogg Co		6,477
	238,085		Keurig Green Mountain, Inc		26,601
	265,998		Kraft Foods Group, Inc		23,172
	431,878		Lorillard, Inc		28,223
	55,203		McCormick & Co, Inc		4,257
	594,402		Mead Johnson Nutrition Co		59,755
	130,000		Molson Coors Brewing Co (Class B)		9,679
	104,600		Mondelez International, Inc		3,775
	1,147,655	*	Monster Beverage Corp		158,830
	1,011,350		PepsiCo, Inc		96,705
	491,463		Philip Morris International, Inc		37,022
	802,034	e	Pilgrim’s Pride Corp		18,118
	160,592		Pinnacle Foods, Inc		6,554
	97,119		Reynolds American, Inc		6,692
	640,733		Suntory Beverage & Food Ltd		27,436
	334,333		Tyson Foods, Inc (Class A)		12,805
	396,108	*	WhiteWave Foods Co (Class A)		17,563
			TOTAL FOOD, BEVERAGE & TOBACCO		926,825
HEALTH CARE EQUIPMENT & SERVICES - 4.0%
	447,014		Aetna, Inc		47,620
	34,273	*	Align Technology, Inc		1,843
	26,575	*	Allscripts Healthcare Solutions, Inc		318
	203,396		AmerisourceBergen Corp		23,120
	347,000		Anthem, Inc		53,580
	15,872	*,e	athenahealth, Inc		1,895
	64,613		Bard (C.R.), Inc		10,813
	249,355		Baxter International, Inc		17,081
	159,048		Becton Dickinson & Co		22,838
	49,490	*	Boston Scientific Corp		879
	71,292	*	Brookdale Senior Living, Inc		2,692
	231,310		Cardinal Health, Inc		20,880
	432,840	*	Catamaran Corp		25,771
	508,698	*	Centene Corp		35,960
	1,149,593	*	Cerner Corp		84,219
	177,786		Cigna Corp		23,013
	14,823		Cooper Cos, Inc		2,778
	233,918	*	DaVita, Inc		19,013
	18,271		Dentsply International, Inc		930
	119,081	*	Edwards Lifesciences Corp		16,964

242

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	34,207	*	Envision Healthcare Holdings, Inc	$	1,312
	514,802	*	Express Scripts Holding Co		44,669
	67,447	*,e	Halyard Health, Inc		3,318
	264,684	*	HCA Holdings, Inc		19,912
	248,900		Healthsouth Corp		11,041
	35,882	*	Henry Schein, Inc		5,010
	2,484		Hill-Rom Holdings, Inc		122
	440,590	*	Hologic, Inc		14,551
	88,200		Humana, Inc		15,701
	286,605	*	Idexx Laboratories, Inc		44,275
	30,746	*	IMS Health Holdings, Inc		832
	417,880	*	Inovalon Holdings, Inc		12,624
	145,689	*	Intuitive Surgical, Inc		73,577
	111,350	*	Laboratory Corp of America Holdings		14,040
	432,365		McKesson Corp		97,801
	590,691	*	Olympus Corp		21,900
	3,860		Patterson Cos, Inc		188
	27,992	*	Pediatrix Medical Group, Inc		2,030
	524,116	*	Premier, Inc		19,696
	131,006	e	Resmed, Inc		9,404
	15,407	*	Sirona Dental Systems, Inc		1,387
	302,412		St. Jude Medical, Inc		19,778
	83,775		Stryker Corp		7,728
	41,590	*	Tenet Healthcare Corp		2,059
	227,320		Universal Health Services, Inc (Class B)		26,758
	43,932	*	Varian Medical Systems, Inc		4,134
	16,612	*,e	Veeva Systems, Inc		424
	5,375		Zimmer Holdings, Inc		632
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		887,110
HOUSEHOLD & PERSONAL PRODUCTS - 1.1%
	73,511	e	Avon Products, Inc		587
	57,160		Church & Dwight Co, Inc		4,883
	44,814		Clorox Co		4,947
	468,818		Colgate-Palmolive Co		32,508
	191,058		Coty, Inc		4,637
	1,984,577		Estee Lauder Cos (Class A)		165,037
	33,348	*,e	Herbalife Ltd		1,426
	130,578		Kimberly-Clark Corp		13,986
	24,208	e	Nu Skin Enterprises, Inc (Class A)		1,458
	64,328		Procter & Gamble Co		5,271
	9,583		Spectrum Brands, Inc		858
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		235,598
INSURANCE - 0.5%
	215,919		ACE Ltd		24,073
	119,800		Allstate Corp		8,526
	6,195		American Financial Group, Inc		397
	89,909		Aon plc		8,642
	61,605		Arthur J. Gallagher & Co		2,880
	3,859		Brown & Brown, Inc		128
	10,791		Erie Indemnity Co (Class A)		941

243

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	365,998		Marsh & McLennan Cos, Inc	$	20,529
	346,700		Metlife, Inc		17,526
	6,735		Reinsurance Group of America, Inc (Class A)		628
	145,900		Travelers Cos, Inc		15,776
			TOTAL INSURANCE		100,046
MATERIALS - 3.4%
	30,670		Airgas, Inc		3,254
	230,711		Albemarle Corp		12,191
	950,000		Alcoa, Inc		12,274
	6,495		Aptargroup, Inc		413
	163,175		Avery Dennison Corp		8,634
	13,051	*	Axalta Coating Systems Ltd		360
	298,669		Ball Corp		21,098
	881,049	*	Berry Plastics Group, Inc		31,885
	2,747		Cabot Corp		124
	2,274		Carpenter Technology Corp		88
	5,597		Celanese Corp (Series A)		313
	14,543		Compass Minerals International, Inc		1,356
	482,958	*	Crown Holdings, Inc		26,089
	3,527		Cytec Industries, Inc		191
	538,902		Dow Chemical Co		25,857
	459,443		Du Pont (E.I.) de Nemours & Co		32,836
	21,533		Eagle Materials, Inc		1,799
	169,203		Eastman Chemical Co		11,719
	133,553		Ecolab, Inc		15,276
	54,917		FMC Corp		3,144
	973,900		Graphic Packaging Holding Co		14,160
	56,949		Huntsman Corp		1,263
	34,397		International Flavors & Fragrances, Inc		4,038
	73,236		International Paper Co		4,064
	680,658		LyondellBasell Industries AF S.C.A		59,762
	25,687		Martin Marietta Materials, Inc		3,591
	1,146,811		Monsanto Co		129,062
	3,857		NewMarket Corp		1,843
	41,602	*	Owens-Illinois, Inc		970
	391,049		Packaging Corp of America		30,576
	41,016	*	Platform Specialty Products Corp		1,052
	658,651		PPG Industries, Inc		148,552
	131,417		Praxair, Inc		15,867
	2,109	e	Rayonier Advanced Materials, Inc		31
	51,626		RPM International, Inc		2,478
	18,948		Scotts Miracle-Gro Co (Class A)		1,273
	89,136		Sealed Air Corp		4,061
	338,006		Sherwin-Williams Co		96,163
	22,744		Sigma-Aldrich Corp		3,144
	17,722		Silgan Holdings, Inc		1,030
	223,546	e	Southern Copper Corp (NY)		6,523
	8,088		Tahoe Resources, Inc		89
	1,094		TimkenSteel Corp		29
	35,074		Valspar Corp		2,947
	258,604		Westlake Chemical Corp		18,604

244

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	27,601	*	WR Grace & Co	$	2,729
			TOTAL MATERIALS		762,802
MEDIA - 5.3%
	258,546	*	AMC Networks, Inc		19,815
	80,866	e	Cablevision Systems Corp (Class A)		1,480
	1,057,839		CBS Corp (Class B)		64,137
	32,769	*	Charter Communications, Inc		6,328
	174,233		Cinemark Holdings, Inc		7,853
	7,989		Clear Channel Outdoor Holdings, Inc (Class A)		81
	5,758,318		Comcast Corp (Class A)		325,172
	850,640	*	DIRECTV		72,389
	95,058	*,e	Discovery Communications, Inc (Class A)		2,924
	197,929	*	Discovery Communications, Inc (Class C)		5,834
	140,694	*	DISH Network Corp (Class A)		9,857
	982,200		Interpublic Group of Cos, Inc		21,726
	160,491	e	Lions Gate Entertainment Corp		5,444
	30,216	*	Live Nation, Inc		762
	8,390		Morningstar, Inc		628
	107,929		Omnicom Group, Inc		8,416
	8,916	e	Regal Entertainment Group (Class A)		204
	40,721	e	Scripps Networks Interactive (Class A)		2,792
	3,497,376	*	Sirius XM Holdings, Inc		13,360
	465,469	*	Starz-Liberty Capital		16,017
	277,500		Time Warner Cable, Inc		41,592
	1,429,905		Time Warner, Inc		120,741
	221,000	*	Tribune Co		13,439
	787,664		Twenty-First Century Fox, Inc		26,654
	966,819		Viacom, Inc (Class B)		66,034
	3,105,243		Walt Disney Co		325,709
			TOTAL MEDIA		1,179,388
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 12.0%
	3,177,439		AbbVie, Inc		186,007
	1,263,889	*	Actavis plc		376,159
	78,827		Agilent Technologies, Inc		3,275
	878,317	*	Alexion Pharmaceuticals, Inc		152,212
	428,929	*	Alkermes plc		26,152
	25,488	*	Alnylam Pharmaceuticals, Inc		2,661
	1,042,578		Amgen, Inc		166,656
	406,265	*	Biogen Idec, Inc		171,541
	600,036	*	BioMarin Pharmaceuticals, Inc		74,776
	7,478		Bio-Techne Corp		750
	1,840,682		Bristol-Myers Squibb Co		118,724
	163,493	*	Bruker BioSciences Corp		3,020
	3,084,035	*	Celgene Corp		355,528
	64,254	*	Charles River Laboratories International, Inc		5,095
	134,636	*	Endo International plc		12,077
	3,707,450	*	Gilead Sciences, Inc		363,812
	432,685	*	Illumina, Inc		80,324
	60,604	*	Incyte Corp		5,555
	5,544	*,e	Intercept Pharmaceuticals, Inc		1,563

245

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	39,539	*	Jazz Pharmaceuticals plc	$	6,832
	208,553		Johnson & Johnson		20,980
	3,817	*	Juno Therapeutics, Inc		232
	70,098	*	Mallinckrodt plc		8,878
	65,299	*	Medivation, Inc		8,428
	375,856		Merck & Co, Inc		21,604
	12,347	*	Mettler-Toledo International, Inc		4,058
	826,426	*	Mylan NV		49,048
	26,972	*,e	Myriad Genetics, Inc		955
	588,871		Novartis AG. (ADR)		58,069
	360,000		Novo Nordisk AS		19,218
	74,598	*	PerkinElmer, Inc		3,815
	656,561		Perrigo Co plc		108,694
	342,605		Pfizer, Inc		11,919
	25,453	*	Pharmacyclics, Inc		6,515
	10,660	*	Quintiles Transnational Holdings, Inc		714
	9,700	*	Receptos, Inc		1,599
	81,387	*	Regeneron Pharmaceuticals, Inc		36,745
	26,724	*,e	Salix Pharmaceuticals Ltd		4,618
	40,558	*,e	Seattle Genetics, Inc		1,434
	604,870		Thermo Electron Corp		81,258
	19,909	*	United Therapeutics Corp		3,433
	123,057	*	Vertex Pharmaceuticals, Inc		14,517
	8,040	*,e	VWR Corp		209
	109,305	*	Waters Corp		13,589
	1,642,606		Zoetis Inc		76,036
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		2,669,284
REAL ESTATE - 1.6%
	342,951		American Tower Corp		32,289
	36,627		Apartment Investment & Management Co (Class A)		1,442
	7,736		Boston Properties, Inc		1,087
	2,897,313	*	CBRE Group, Inc		112,155
	7,645		Columbia Property Trust, Inc		207
	281,176		Crown Castle International Corp		23,208
	26,361		Equity Lifestyle Properties, Inc		1,448
	47,929		Extra Space Storage, Inc		3,239
	18,590		Federal Realty Investment Trust		2,737
	5,133		Gaming and Leisure Properties, Inc		189
	6,657,545	e	Global Logistic Properties		12,850
	76,929		Health Care REIT, Inc		5,951
	9,653		Healthcare Trust of America, Inc		269
	7,658	*	Howard Hughes Corp		1,187
	68,660	e	Iron Mountain, Inc		2,505
	52,486		Jones Lang LaSalle, Inc		8,944
	120,326		Lamar Advertising Co		7,132
	122,535		NorthStar Realty Finance Corp		2,220
	18,918	e	Omega Healthcare Investors, Inc		767
	5,129		Outfront Media, Inc		153
	3,009		Paramount Group, Inc		58
	37,184		Plum Creek Timber Co, Inc		1,616
	79,056		Public Storage, Inc		15,585

246

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	6,289		Rayonier, Inc	$	169
	1,418,048	*	Realogy Holdings Corp		64,493
	274,657		Simon Property Group, Inc		53,734
	24,846		Tanger Factory Outlet Centers, Inc		874
	24,762		Taubman Centers, Inc		1,910
	8,517		Urban Edge Properties		202
	58,949		Ventas, Inc		4,304
	17,740		Vornado Realty Trust		1,987
	21,786		Weyerhaeuser Co		722
	9,400		WP GLIMCHER, Inc		156
			TOTAL REAL ESTATE		365,789
RETAILING - 8.3%
	5,812		Aaron’s, Inc		165
	4,985	e	Abercrombie & Fitch Co (Class A)		110
	183,169		Advance Auto Parts, Inc		27,419
	1,009,923	*	Amazon.com, Inc		375,792
	405,000	*,e	ASOS plc		21,678
	278,152	*	Autonation, Inc		17,894
	59,992	*	AutoZone, Inc		40,924
	247,207	*	Bed Bath & Beyond, Inc		18,979
	914,729		Best Buy Co, Inc		34,568
	71,991		Big Lots, Inc		3,458
	2,431	*,e	Cabela’s, Inc		136
	923,975	*	Carmax, Inc		63,764
	29,703		Chico’s FAS, Inc		525
	2,266,022	*	Cnova NV		14,253
	28,263		CST Brands, Inc		1,239
	385,876	*	Ctrip.com International Ltd (ADR)		22,620
	64,301		Dick’s Sporting Goods, Inc		3,664
	220,224		Dillard’s, Inc (Class A)		30,063
	180,318	*	Dollar General Corp		13,592
	181,371	*	Dollar Tree, Inc		14,717
	1,592,493		Expedia, Inc		149,902
	37,506		Family Dollar Stores, Inc		2,972
	49,932	e	Fast Retailing Co Ltd		19,307
	663,464		Foot Locker, Inc		41,798
	2,328	e	GameStop Corp (Class A)		88
	387,940		Gap, Inc		16,809
	60,473		Genuine Parts Co		5,635
	323,066		GNC Holdings, Inc		15,853
	7,852,560	*,e	Groupon, Inc		56,617
	3,037,684		Home Depot, Inc		345,111
	470,000	*	JD.com, Inc (ADR)		13,809
	66,501		Kohl’s Corp		5,204
	99,818		L Brands, Inc		9,412
	1,122,535	*	Liberty Interactive Corp		32,767
	30,278	*	Liberty TripAdvisor Holdings, Inc		963
	205,185	*	Liberty Ventures		8,620
	124,402	*	LKQ Corp		3,180
	1,262,176		Lowe’s Companies, Inc		93,893
	739,059		Macy’s, Inc		47,972

247

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	8,378	*	Michaels Cos, Inc	$	227
	138,171	*	Murphy USA, Inc		9,999
	33,744	*	NetFlix, Inc		14,061
	57,149		Nordstrom, Inc		4,590
	155,335	*	O’Reilly Automotive, Inc		33,590
	8,235		Penske Auto Group, Inc		424
	36,329	*	Priceline.com, Inc		42,292
	166,022		Ross Stores, Inc		17,492
	51,382	*	Sally Beauty Holdings, Inc		1,766
	9,035	*,e	Sears Holdings Corp		374
	22,833		Signet Jewelers Ltd		3,169
	297,590		Target Corp		24,423
	244,426		Tiffany & Co		21,512
	487,400		TJX Companies, Inc		34,142
	128,997		Tractor Supply Co		10,972
	72,654	*	TripAdvisor, Inc		6,043
	187,454	*	Ulta Salon Cosmetics & Fragrance, Inc		28,277
	34,164	*	Urban Outfitters, Inc		1,560
	98,745	*,e	Wayfair, Inc		3,172
	38,893		Williams-Sonoma, Inc		3,100
	8,060	*,e	zulily, Inc		105
			TOTAL RETAILING		1,836,762
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.4%
	259,114	*,e	Advanced Micro Devices, Inc		694
	107,257		Altera Corp		4,602
	60,992		Analog Devices, Inc		3,843
	3,785,512		Applied Materials, Inc		85,401
	719,750		ARM Holdings plc (ADR)		35,484
	178,119		Atmel Corp		1,466
	353,422		Avago Technologies Ltd		44,878
	1,031,698		Broadcom Corp (Class A)		44,667
	25,226	*,e	Cree, Inc		895
	39,869	*	Freescale Semiconductor Holdings Ltd		1,625
	720,721		Intel Corp		22,537
	63,979		Kla-Tencor Corp		3,729
	621,802		Lam Research Corp		43,672
	99,525		Linear Technology Corp		4,658
	1,090,100		Marvell Technology Group Ltd		16,025
	109,804		Maxim Integrated Products, Inc		3,822
	82,515	e	Microchip Technology, Inc		4,035
	1,569,021	*	Micron Technology, Inc		42,568
	224,373		Nvidia Corp		4,695
	642,579	*	NXP Semiconductors NV		64,489
	450,243	*	ON Semiconductor Corp		5,452
	374,081		Skyworks Solutions, Inc		36,768
	36,228	*,e	SunEdison, Inc		870
	1,825	*,e	SunPower Corp		57
	198,896		Teradyne, Inc		3,749
	561,626		Texas Instruments, Inc		32,117
	203,347		Xilinx, Inc		8,602
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		521,400

248

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
SOFTWARE & SERVICES - 20.3%
	686,885		Accenture plc	$	64,354
	135,896		Activision Blizzard, Inc		3,088
	3,399,053	*	Adobe Systems, Inc		251,326
	74,839	*	Akamai Technologies, Inc		5,317
	52,811	*,e	Alibaba Group Holding Ltd (ADR)		4,396
	256,608	*	Alliance Data Systems Corp		76,020
	356,691		Amdocs Ltd		19,404
	8,869	*	Ansys, Inc		782
	1,709,717	*	Autodesk, Inc		100,258
	215,005		Automatic Data Processing, Inc		18,413
	28,635		Booz Allen Hamilton Holding Co		829
	280,249		Broadridge Financial Solutions, Inc		15,416
	121,308	*	Cadence Design Systems, Inc		2,237
	66,556		CDK Global, Inc		3,112
	430,908	*,e	Cimpress NV		36,360
	235,185	*	Citrix Systems, Inc		15,021
	461,079	*	Cognizant Technology Solutions Corp (Class A)		28,767
	274,206		Computer Sciences Corp		17,900
	13,470	*	CoStar Group, Inc		2,665
	10,001		DST Systems, Inc		1,107
	2,766,706	*	eBay, Inc		159,584
	350,487	*	Electronic Arts, Inc		20,614
	23,595		Equinix, Inc		5,494
	5,051,958	*	Facebook, Inc		415,347
	17,655		Factset Research Systems, Inc		2,811
	14,852		Fidelity National Information Services, Inc		1,011
	278,931	*,e	FireEye, Inc		10,948
	104,036	*	Fiserv, Inc		8,260
	167,256	*	FleetCor Technologies, Inc		25,242
	56,130	*	Fortinet, Inc		1,962
	38,527	*	Gartner, Inc		3,230
	7,470	*	Genpact Ltd		174
	323,054		Global Payments, Inc		29,618
	803,434	*	Google, Inc		440,282
	511,457	*	Google, Inc (Class A)		283,705
	35,118	*	HomeAway, Inc		1,059
	375,104		IAC/InterActiveCorp		25,308
	42,200	*	Informatica Corp		1,851
	962,154		International Business Machines Corp		154,426
	2,607,543		Intuit, Inc		252,827
	35,442		Jack Henry & Associates, Inc		2,477
	6,096,526	*,e	Just Eat plc		39,430
	1,010,000		King Digital Entertainment plc		16,200
	504,216	*,e	LendingClub Corp		9,908
	321,525	*	LinkedIn Corp		80,336
	3,074,135		Mastercard, Inc (Class A)		265,574
	8,132,036		Microsoft Corp		330,608
	94,500	e	Netease.com (ADR)		9,951
	17,515	*,e	NetSuite, Inc		1,625
	4,421,165		Oracle Corp		190,773

249

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	91,208	*,e	Pandora Media, Inc	$	1,478
	121,600		Paychex, Inc		6,033
	144,307	*	PTC, Inc		5,220
	99,140	*	Rackspace Hosting, Inc		5,115
	1,386,103	*	Red Hat, Inc		104,997
	545,152	e	Sabre Corp		13,247
	3,425,405	*	Salesforce.com, Inc		228,851
	269,826	*	ServiceNow, Inc		21,257
	26,799	*	SolarWinds, Inc		1,373
	29,067		Solera Holdings, Inc		1,502
	48,952	*	Splunk, Inc		2,898
	47,823	*	Tableau Software, Inc		4,425
	2,570,200		Tencent Holdings Ltd		48,808
	52,591	*	Teradata Corp		2,321
	55,007		Total System Services, Inc		2,098
	553,367	*	Twitter, Inc		27,713
	175,082	*	Vantiv, Inc		6,601
	45,597	*	VeriFone Systems, Inc		1,591
	46,309	*,e	VeriSign, Inc		3,101
	5,658,572		Visa, Inc (Class A)		370,127
	218,159	*	VMware, Inc (Class A)		17,891
	222,392	e	Western Union Co		4,628
	38,761	*	Workday, Inc		3,272
	3,624,748	*	Yahoo!, Inc		161,066
	21,554	*,e	Yelp, Inc		1,021
	20,474	*,e	Zillow Group, Inc		2,054
			TOTAL SOFTWARE & SERVICES		4,506,095
TECHNOLOGY HARDWARE & EQUIPMENT - 8.2%
	49,341	*,e	3D Systems Corp		1,353
	4,884,448	*	Alcatel S.A.		18,363
	12,568,984	*	Alcatel-Lucent (ADR)		46,882
	131,193		Amphenol Corp (Class A)		7,731
	11,017,939	d	Apple, Inc		1,370,962
	2,349	*	Arista Networks, Inc		166
	53,013	*	ARRIS Group, Inc		1,532
	11,077		Avnet, Inc		493
	128,923		CDW Corp		4,801
	3,494,842		Cisco Systems, Inc		96,195
	27,789	*	CommScope Holding Co, Inc		793
	432,924		Corning, Inc		9,819
	25,764		Diebold, Inc		914
	4,886	*	EchoStar Corp (Class A)		253
	250,429		EMC Corp		6,401
	78,639	*	F5 Networks, Inc		9,039
	41,588		Flir Systems, Inc		1,301
	8,601		Harris Corp		677
	593,400		Hewlett-Packard Co		18,490
	13,507	*,e	IPG Photonics Corp		1,252
	197,147		Juniper Networks, Inc		4,452
	9,989	*	Keysight Technologies, Inc		371
	19,160		Motorola, Inc		1,277

250

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	40,361		National Instruments Corp	$	1,293
	4,934	*	NCR Corp		146
	554,117		NetApp, Inc		19,649
	293,385	*	Palo Alto Networks, Inc		42,858
	1,345,198		Qualcomm, Inc		93,276
	64,768	*	Riverbed Technology, Inc		1,354
	41,890		SanDisk Corp		2,665
	371,700		Seagate Technology, Inc		19,339
	11,145	*,e	Stratasys Ltd		588
	108,124	*	Trimble Navigation Ltd		2,725
	385,100		Western Digital Corp		35,048
	20,888	*	Zebra Technologies Corp (Class A)		1,895
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,824,353
TELECOMMUNICATION SERVICES - 1.0%
	16,300		CenturyTel, Inc		563
	1,144,884	*	Level 3 Communications, Inc		61,641
	129,908	*	SBA Communications Corp (Class A)		15,212
	3,072,131		Verizon Communications, Inc		149,398
	228,198	e	Windstream Holdings, Inc		1,689
	4,666	*	Zayo Group Holdings, Inc		130
			TOTAL TELECOMMUNICATION SERVICES		228,633
TRANSPORTATION - 3.3%
	451,557		Alaska Air Group, Inc		29,884
	33,676		Amerco, Inc		11,127
	334,497		American Airlines Group, Inc		17,655
	428,943	*	Avis Budget Group, Inc		25,314
	203,550	e	CH Robinson Worldwide, Inc		14,904
	11,689	e	Copa Holdings S.A. (Class A)		1,180
	1,236,789		Delta Air Lines, Inc		55,606
	248,962		Expeditors International of Washington, Inc		11,995
	335,730		FedEx Corp		55,547
	9,418	*	Genesee & Wyoming, Inc (Class A)		908
	2,755,960	*	Hertz Global Holdings, Inc		59,749
	39,125		J.B. Hunt Transport Services, Inc		3,341
	35,205		Kansas City Southern Industries, Inc		3,594
	118,572	*	Kirby Corp		8,899
	19,330		Landstar System, Inc		1,282
	968,475	e	Latam Airlines Group S.A. (ADR)		7,806
	79,694		Norfolk Southern Corp		8,202
	26,407	*	Old Dominion Freight Line		2,041
	180,000		Ryanair Holdings plc (ADR)		12,019
	289,056		Ryder System, Inc		27,428
	1,251,677		Southwest Airlines Co		55,449
	30,395	*	Spirit Airlines, Inc		2,351
	747,298	*	UAL Corp		50,256
	1,956,394		Union Pacific Corp		211,897
	373,880		United Parcel Service, Inc (Class B)		36,244
	224,539	*,e	Virgin America, Inc		6,826
			TOTAL TRANSPORTATION		721,504

251

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
UTILITIES - 0.0%
	215,463	*	Calpine Corp	$	4,928
	14,849		Dominion Resources, Inc		1,052
	61,937		ITC Holdings Corp		2,318
			TOTAL UTILITIES		8,298
			TOTAL COMMON STOCKS		22,057,159
			(Cost $16,972,363)

PRINCIPAL			ISSUER	RATE		MATURITY DATE
SHORT-TERM INVESTMENTS - 2.9%
GOVERNMENT AGENCY DEBT - 0.5%
$	3,800,000	d	Federal Home Loan Bank (FHLB)	0.065	%	04/08/15	3,800
	20,000,000	d	FHLB	0.045		04/24/15	19,999
	30,000,000	d	FHLB	0.067		06/03/15	29,997
	42,894,000		Federal Home Loan Mortgage Corp (FHLMC)	0.075		07/31/15	42,884
			TOTAL GOVERNMENT AGENCY DEBT				96,680
TREASURY DEBT - 0.5%
	3,000,000	d	United States Treasury Bill	0.090		04/02/15	3,000
	300,000		United States Treasury Bill	0.050		06/04/15	300
	2,000,000		United States Treasury Bill	0.130		06/25/15	2,000
	1,200,000		United States Treasury Bill	0.086		07/23/15	1,200
	33,500,000	d	United States Treasury Bill	0.066-0.070		08/27/15	33,489
	34,300,000	d	United States Treasury Bill	0.107-0.113		09/17/15	34,284
	15,000,000	d	United States Treasury Bill	0.095-0.096		10/15/15	14,989
	20,000,000	d	United States Treasury Bill	0.176		12/10/15	19,976
			TOTAL TREASURY DEBT				109,238

SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.9%
	427,292,533	a,c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust		427,293
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		427,293
			TOTAL SHORT-TERM INVESTMENTS		633,211
			(Cost $633,211)
			TOTAL INVESTMENTS - 102.3%		22,690,370
			(Cost $17,605,574)
			OTHER ASSETS & LIABILITIES, NET - (2.3)%		(502,613	)
			NET ASSETS - 100.0%	$	22,187,757

	Abbreviation(s):
ADR	American Depositary Receipt
REIT	Real Estate Investment Trust
*	Non-income producing
a	Affiliated holding
c	Investments made with cash collateral received from securites on loan.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures transactions.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $413,447,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 03/31/15 the aggregate value of these securities was $30,803,000, or 0.1% of net assets.
	Cost amounts are in thousands.

252

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND
EQUITY INDEX ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2015

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.8%
AUTOMOBILES & COMPONENTS - 1.1%
	51,119	*	American Axle & Manufacturing Holdings, Inc	$	1,320
	173,046		BorgWarner, Inc		10,466
	45,824		Cooper Tire & Rubber Co		1,963
	10,380	*	Cooper-Standard Holding, Inc		615
	116,351		Dana Holding Corp		2,462
	20,588	*,e	Dorman Products, Inc		1,024
	16,941		Drew Industries, Inc		1,043
	14,344	*	Federal Mogul Corp (Class A)		191
	2,910,427		Ford Motor Co		46,974
	8,733	*	Fox Factory Holding Corp		134
	11,841	*	Fuel Systems Solutions, Inc		131
	1,199,137		General Motors Co		44,968
	218,376		Gentex Corp		3,996
	27,497	*	Gentherm, Inc		1,389
	186,602		Goodyear Tire & Rubber Co		5,053
	163,651		Harley-Davidson, Inc		9,940
	497,762		Johnson Controls, Inc		25,107
	61,452		Lear Corp		6,810
	36,302	*	Modine Manufacturing Co		489
	11,490	*	Motorcar Parts of America, Inc		319
	23,465		Remy International, Inc		521
	4,154	*	Shiloh Industries, Inc		58
	30,024		Spartan Motors, Inc		146
	15,087		Standard Motor Products, Inc		638
	20,247	*	Stoneridge, Inc		229
	2,693		Strattec Security Corp		199
	17,815		Superior Industries International, Inc		337
	46,120	*	Tenneco, Inc		2,648
	71,570	*,e	Tesla Motors, Inc		13,510
	33,978		Thor Industries, Inc		2,148
	15,398	*	Tower International, Inc		410
	82,566	*	TRW Automotive Holdings Corp		8,657
	33,034	*	Visteon Corp		3,184
	21,322	e	Winnebago Industries, Inc		453
			TOTAL AUTOMOBILES & COMPONENTS		197,532
BANKS - 5.8%
	11,459		1st Source Corp		368
	5,882		American National Bankshares, Inc		133
	18,171		Ameris Bancorp		480
	7,069	e	Ames National Corp		176
	24,400		Apollo Residential Mortgage		389
	7,344		Arrow Financial Corp		199
	127,805		Associated Banc-Corp		2,377

253

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	66,701		Astoria Financial Corp	$	864
	22,313	e	Banc of California, Inc		275
	5,016		Bancfirst Corp		306
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		704
	73,283		Bancorpsouth, Inc		1,702
	41,404		Bank Mutual Corp		303
	7,880,832		Bank of America Corp		121,286
	32,426	e	Bank of Hawaii Corp		1,985
	4,416		Bank of Kentucky Financial Corp		217
	3,864		Bank of Marin Bancorp		197
	60,507		Bank of the Ozarks, Inc		2,235
	17,629		BankFinancial Corp		232
	70,225		BankUnited		2,299
	12,411		Banner Corp		570
	531,229		BB&T Corp		20,713
	59,137		BBCN Bancorp, Inc		856
	5,242	*,e	BBX Capital Corp		97
	25,760	*	Beneficial Bancorp, Inc		291
	17,538		Berkshire Hills Bancorp, Inc		486
	8,326	*	Blue Hills Bancorp, Inc		110
	13,481		BNC Bancorp		244
	10,804	*	BofI Holding, Inc		1,005
	20,505	e	BOK Financial Corp		1,255
	59,217		Boston Private Financial Holdings, Inc		719
	8,872		Bridge Bancorp, Inc		229
	7,190	*	Bridge Capital Holdings		188
	54,590		Brookline Bancorp, Inc		549
	10,466		Bryn Mawr Bank Corp		318
	5,527		Camden National Corp		220
	16,948	*	Capital Bank Financial Corp		468
	9,158		Capital City Bank Group, Inc		149
	111,251		Capitol Federal Financial		1,391
	22,480		Cardinal Financial Corp		449
	21,201	*	Cascade Bancorp		102
	60,166		Cathay General Bancorp		1,712
	23,433		Centerstate Banks of Florida, Inc		279
	11,733		Central Pacific Financial Corp		269
	2,883		Century Bancorp, Inc		114
	17,428		Charter Financial Corp		200
	21,008		Chemical Financial Corp		659
	145,799		CIT Group, Inc		6,578
	2,276,696		Citigroup, Inc		117,295
	9,568		Citizens & Northern Corp		193
	131,446		Citizens Financial Group, Inc		3,172
	10,721	e	City Holding Co		504
	35,413		City National Corp		3,155
	19,650		Clifton Bancorp, Inc		277
	9,772		CNB Financial Corp		166
	26,184		CoBiz, Inc		323
	38,948		Columbia Banking System, Inc		1,128
	137,759		Comerica, Inc		6,217
	62,675		Commerce Bancshares, Inc		2,652

254

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	32,481		Community Bank System, Inc	$	1,149
	12,718		Community Trust Bancorp, Inc		422
	7,261	*	CommunityOne Bancorp		71
	18,360		ConnectOne Bancorp, Inc		357
	5,720	*	CU Bancorp		130
	39,527		Cullen/Frost Bankers, Inc		2,731
	19,196	*	Customers Bancorp, Inc		468
	80,226		CVB Financial Corp		1,279
	23,810		Dime Community Bancshares		383
	16,666	*	Eagle Bancorp, Inc		640
	107,886		East West Bancorp, Inc		4,365
	4,559		Enterprise Bancorp, Inc		97
	14,785		Enterprise Financial Services Corp		305
	31,561	*	Essent Group Ltd		755
	63,330		EverBank Financial Corp		1,142
	6,300	*	FCB Financial Holdings, Inc		172
	7,387		Federal Agricultural Mortgage Corp (Class C)		208
	12,551		Fidelity Southern Corp		212
	644,558		Fifth Third Bancorp		12,150
	10,211		Financial Institutions, Inc		234
	15,337		First Bancorp (NC)		269
	77,562	*	First Bancorp (Puerto Rico)		481
	6,485		First Bancorp, Inc		113
	58,052		First Busey Corp		388
	3,088		First Business Financial Services, Inc		134
	5,634		First Citizens Bancshares, Inc (Class A)		1,463
	73,506		First Commonwealth Financial Corp		662
	12,139		First Community Bancshares, Inc		213
	13,926		First Connecticut Bancorp		214
	7,726		First Defiance Financial Corp		254
	44,691		First Financial Bancorp		796
	48,150	e	First Financial Bankshares, Inc		1,331
	8,954		First Financial Corp		321
	12,796		First Financial Northwest, Inc		158
	191,562		First Horizon National Corp		2,737
	13,482		First Interstate Bancsystem, Inc		375
	26,538		First Merchants Corp		625
	57,533		First Midwest Bancorp, Inc		999
	11,498	*	First NBC Bank Holding Co		379
	263,698		First Niagara Financial Group, Inc		2,331
	8,623		First of Long Island Corp		220
	100,941		First Republic Bank		5,763
	125,914		FirstMerit Corp		2,400
	15,789	*	Flagstar Bancorp, Inc		229
	23,200		Flushing Financial Corp		466
	126,368		FNB Corp		1,660
	11,394		Fox Chase Bancorp, Inc		192
	147,923		Fulton Financial Corp		1,825
	8,476		German American Bancorp, Inc		249
	56,600		Glacier Bancorp, Inc		1,423
	7,809		Great Southern Bancorp, Inc		308
	23,534		Great Western Bancorp, Inc		518

255

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,166		Guaranty Bancorp	$	189
	187,418	*	Hampton Roads Bankshares, Inc		354
	63,724		Hancock Holding Co		1,903
	23,963		Hanmi Financial Corp		507
	10,342		Heartland Financial USA, Inc		337
	15,254		Heritage Commerce Corp		139
	22,833		Heritage Financial Corp		388
	14,409		Heritage Oaks Bancorp		120
	55,915	*	Hilltop Holdings, Inc		1,087
	40,940		Home Bancshares, Inc		1,387
	54,100	e	Home Loan Servicing Solutions Ltd		895
	11,314		HomeStreet, Inc		207
	16,046	*	HomeTrust Bancshares, Inc		256
	6,700		Horizon Bancorp		157
	404,335		Hudson City Bancorp, Inc		4,237
	11,015		Hudson Valley Holding Corp		282
	627,640		Huntington Bancshares, Inc		6,935
	23,816		IBERIABANK Corp		1,501
	17,904	e	Independent Bank Corp (MA)		785
	17,558		Independent Bank Corp (MI)		225
	6,960		Independent Bank Group, Inc		271
	40,567		International Bancshares Corp		1,056
	270,415		Investors Bancorp, Inc		3,169
	2,836,554		JPMorgan Chase & Co		171,839
	14,732	*	Kearny Financial Corp		200
	668,896		Keycorp		9,472
	11,600	*	Ladder Capital Corp		215
	28,418		Lakeland Bancorp, Inc		327
	12,420		Lakeland Financial Corp		504
	29,696		LegacyTexas Financial Group, Inc		675
	4,100	*	LendingTree, Inc		230
	98,740		M&T Bank Corp		12,540
	18,100		Macatawa Bank Corp		97
	15,363		MainSource Financial Group, Inc		302
	49,622		MB Financial, Inc		1,554
	12,428		Mercantile Bank Corp		243
	3,784		Merchants Bancshares, Inc		110
	17,750	*	Meridian Bancorp, Inc		234
	4,004		Meta Financial Group, Inc		159
	256,905	*	MGIC Investment Corp		2,474
	6,667		Midsouth Bancorp, Inc		98
	5,257		MidWestOne Financial Group, Inc		152
	31,114		National Bank Holdings Corp		585
	5,351	e	National Bankshares, Inc		160
	89,553		National Penn Bancshares, Inc		964
	17,284	*	Nationstar Mortgage Holdings, Inc		428
	30,007		NBT Bancorp, Inc		752
	331,783	e	New York Community Bancorp, Inc		5,551
	19,480		NewBridge Bancorp		174
	38,864	*	NMI Holdings, Inc		291
	36,323		Northfield Bancorp, Inc		538
	4,751		Northrim BanCorp, Inc		117

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	76,438		Northwest Bancshares, Inc	$	906
	10,808		OceanFirst Financial Corp		187
	80,446	*,e	Ocwen Financial Corp		664
	33,903		OFG Bancorp		553
	5,881	e	Old Line Bancshares, Inc		93
	79,754		Old National Bancorp		1,132
	3,990		Opus Bank		123
	37,788		Oritani Financial Corp		550
	14,467		Pacific Continental Corp		191
	12,060	*	Pacific Premier Bancorp, Inc		195
	77,286		PacWest Bancorp		3,624
	2,932	e	Palmetto Bancshares, Inc		56
	9,233	e	Park National Corp		790
	33,018		Park Sterling Bank		234
	8,389		Peapack Gladstone Financial Corp		181
	2,964		Penns Woods Bancorp, Inc		145
	10,509		Pennsylvania Commerce Bancorp, Inc		290
	9,540	*	PennyMac Financial Services, Inc		162
	6,808		Peoples Bancorp, Inc		161
	5,712	e	Peoples Financial Services Corp		256
	229,288		People’s United Financial, Inc		3,485
	26,946		Pinnacle Financial Partners, Inc		1,198
	400,952		PNC Financial Services Group, Inc		37,385
	77,233	*	Popular, Inc		2,656
	8,859		Preferred Bank		243
	54,280		PrivateBancorp, Inc		1,909
	52,920		Prosperity Bancshares, Inc		2,777
	45,191		Provident Financial Services, Inc		843
	144,848	e	Radian Group, Inc		2,432
	1,037,893		Regions Financial Corp		9,808
	23,438		Renasant Corp		704
	6,104		Republic Bancorp, Inc (Class A)		151
	24,950	*,e	Republic First Bancorp, Inc		91
	20,998		S&T Bancorp, Inc		596
	18,232		Sandy Spring Bancorp, Inc		478
	11,148	*	Seacoast Banking Corp of Florida		159
	12,568		ServisFirst Bancshares, Inc		415
	8,919		Sierra Bancorp		149
	35,982	*	Signature Bank		4,663
	13,207		Simmons First National Corp (Class A)		601
	18,506		South State Corp		1,266
	15,736	e	Southside Bancshares, Inc		451
	14,769		Southwest Bancorp, Inc		263
	4,158	*	Square  Financial, Inc		111
	24,453		State Bank & Trust Co		514
	67,412	e	Sterling Bancorp/DE		904
	10,870		Stock Yards Bancorp, Inc		374
	7,609		Stonegate Bank		230
	10,313	*,e	Stonegate Mortgage Corp		112
	7,140		Suffolk Bancorp		170
	5,838	*	Sun Bancorp, Inc		110
	399,341		SunTrust Banks, Inc		16,409

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	141,602		Susquehanna Bancshares, Inc	$	1,941
	38,583	*	SVB Financial Group		4,902
	101,149		Synovus Financial Corp		2,833
	13,285		Talmer Bancorp Inc		203
	125,733		TCF Financial Corp		1,977
	9,400		Territorial Bancorp, Inc		223
	32,020	*	Texas Capital Bancshares, Inc		1,558
	57,429		TFS Financial Corp		843
	26,827	*	The Bancorp, Inc		242
	11,138		Tompkins Trustco, Inc		600
	36,996	e	TowneBank		595
	12,050		Trico Bancshares		291
	16,178	*	Tristate Capital Holdings, Inc		169
	57,396		Trustco Bank Corp NY		395
	49,168		Trustmark Corp		1,194
	28,301		UMB Financial Corp		1,497
	128,255		Umpqua Holdings Corp		2,203
	35,077	e	Union Bankshares Corp		779
	52,160	e	United Bankshares, Inc		1,960
	38,132		United Community Banks, Inc		720
	30,361		United Community Financial Corp		166
	43,727		United Financial Bancorp, Inc (New)		544
	12,704		Univest Corp of Pennsylvania		251
	1,289,521		US Bancorp		56,313
	172,796	e	Valley National Bancorp		1,631
	11,958	*	Walker & Dunlop, Inc		212
	79,809		Washington Federal, Inc		1,740
	10,818		Washington Trust Bancorp, Inc		413
	25,864		Waterstone Financial, Inc		332
	68,818		Webster Financial Corp		2,550
	3,579,245		Wells Fargo & Co		194,711
	24,063		WesBanco, Inc		784
	11,970		West Bancorporation, Inc		238
	17,801	e	Westamerica Bancorporation		769
	56,653	*	Western Alliance Bancorp		1,679
	52,747		Wilshire Bancorp, Inc		526
	35,315		Wintrust Financial Corp		1,684
	6,851		WSFS Financial Corp		518
	13,848	*	Yadkin Financial Corp		281
	139,772		Zions Bancorporation		3,774
			TOTAL BANKS		1,002,558
CAPITAL GOODS - 7.8%
	490,366		3M Co		80,886
	57,151		A.O. Smith Corp		3,753
	29,877		Aaon, Inc		733
	29,552		AAR Corp		907
	41,768	*	Accuride Corp		195
	53,734		Actuant Corp (Class A)		1,276
	32,751		Acuity Brands, Inc		5,507
	11,669		Advanced Drainage Systems, Inc		349
	100,739	*	Aecom Technology Corp		3,105

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	28,439	*	Aegion Corp	$	513
	14,335	*	Aerovironment, Inc		380
	68,858		AGCO Corp		3,280
	77,121		Air Lease Corp		2,911
	48,819		Aircastle Ltd		1,096
	5,366		Alamo Group, Inc		339
	23,047		Albany International Corp (Class A)		916
	76,324		Allegion plc		4,669
	100,674		Allison Transmission Holdings, Inc		3,216
	20,492		Altra Holdings, Inc		566
	13,776	*	Ameresco, Inc		102
	7,032	e	American Railcar Industries, Inc		350
	7,536		American Science & Engineering, Inc		368
	8,518	*	American Woodmark Corp		466
	184,417		Ametek, Inc		9,689
	25,458		Apogee Enterprises, Inc		1,100
	32,556		Applied Industrial Technologies, Inc		1,476
	9,512		Argan, Inc		344
	40,683	*	Armstrong World Industries, Inc		2,338
	73,992	*	ArvinMeritor, Inc		933
	15,638		Astec Industries, Inc		671
	14,118	*	Astronics Corp		1,040
	19,364		AZZ, Inc		902
	80,147		Babcock & Wilcox Co		2,572
	39,660		Barnes Group, Inc		1,606
	77,158	*	BE Aerospace, Inc		4,909
	37,178	*	Beacon Roofing Supply, Inc		1,164
	35,059	*	Blount International, Inc		452
	546,525		Boeing Co		82,022
	36,516		Briggs & Stratton Corp		750
	33,815	*	Builders FirstSource, Inc		226
	13,167	*	CAI International, Inc		324
	274,193	*,e	Capstone Turbine Corp		178
	48,667		Carlisle Cos, Inc		4,508
	468,569		Caterpillar, Inc		37,500
	21,046	*	Chart Industries, Inc		738
	74,655	e	Chicago Bridge & Iron Co NV		3,677
	12,832		CIRCOR International, Inc		702
	37,827		Clarcor, Inc		2,499
	72,189	*,e	Colfax Corp		3,446
	14,727		Columbus McKinnon Corp		397
	33,040		Comfort Systems USA, Inc		695
	18,507	*	Commercial Vehicle Group, Inc		119
	9,174	*	Continental Building Products Inc		207
	36,855		Crane Co		2,300
	15,215		Cubic Corp		788
	137,730		Cummins, Inc		19,095
	35,284		Curtiss-Wright Corp		2,609
	454,918		Danaher Corp		38,623
	257,105	e	Deere & Co		22,546
	57,673	*	DigitalGlobe, Inc		1,965
	108,503		Donaldson Co, Inc		4,092

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	21,128		Douglas Dynamics, Inc	$	483
	124,825		Dover Corp		8,628
	8,048	*	Ducommun, Inc		208
	9,738	*	DXP Enterprises, Inc		429
	25,816	*	Dycom Industries, Inc		1,261
	11,541		Dynamic Materials Corp		147
	356,846		Eaton Corp		24,244
	50,074		EMCOR Group, Inc		2,327
	525,081		Emerson Electric Co		29,730
	15,305		Encore Wire Corp		580
	34,170	*,e	Energy Recovery, Inc		88
	35,662		EnerSys		2,291
	12,394		Engility Holdings, Inc		372
	11,300	*,e	Enphase Energy, Inc		149
	17,204		EnPro Industries, Inc		1,135
	2,980	*,e	Erickson Air-Crane, Inc		13
	20,938		ESCO Technologies, Inc		816
	23,350	*	Esterline Technologies Corp		2,672
	141,494		Exelis, Inc		3,448
	221,181	e	Fastenal Co		9,165
	50,117		Federal Signal Corp		791
	102,556		Flowserve Corp		5,793
	120,516		Fluor Corp		6,889
	126,637		Fortune Brands Home & Security, Inc		6,013
	36,490		Franklin Electric Co, Inc		1,392
	10,761		Freightcar America, Inc		338
	169,616	*,e	FuelCell Energy, Inc		212
	25,764	*	Furmanite Corp		203
	34,938		GATX Corp		2,026
	46,010	*,e	GenCorp, Inc		1,067
	52,047	e	Generac Holdings, Inc		2,534
	37,226		General Cable Corp		641
	227,609		General Dynamics Corp		30,893
	7,515,628		General Electric Co		186,463
	8,759	*,e	General Finance Corp		71
	22,869	*	Gibraltar Industries, Inc		375
	16,574		Global Brass & Copper Holdings, Inc		256
	12,250		Global Power Equipment Group, Inc		162
	16,191		Gorman-Rupp Co		485
	45,964		Graco, Inc		3,317
	93,933	*	GrafTech International Ltd		365
	9,470		Graham Corp		227
	29,395		Granite Construction, Inc		1,033
	44,924	*	Great Lakes Dredge & Dock Corp		270
	21,031	e	Greenbrier Cos, Inc		1,220
	34,315		Griffon Corp		598
	23,777		H&E Equipment Services, Inc		594
	61,544		Harsco Corp		1,062
	80,442	*	HD Supply Holdings, Inc		2,506
	49,798		Heico Corp		3,041
	74,087		Hexcel Corp		3,810
	41,775		Hillenbrand, Inc		1,290

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	586,573		Honeywell International, Inc	$	61,185
	12,024		Houston Wire & Cable Co		117
	44,493		Hubbell, Inc (Class B)		4,877
	37,178		Huntington Ingalls		5,210
	4,796		Hurco Cos, Inc		158
	7,224		Hyster-Yale Materials Handling, Inc		529
	60,981		IDEX Corp		4,624
	39,772	*	II-VI, Inc		734
	245,912		Illinois Tool Works, Inc		23,888
	204,877		Ingersoll-Rand plc		13,948
	13,472		Insteel Industries, Inc		291
	68,395		ITT Corp		2,730
	98,921	*	Jacobs Engineering Group, Inc		4,467
	21,706		John Bean Technologies Corp		775
	75,852		Joy Global, Inc		2,972
	9,545		Kadant, Inc		502
	21,747		Kaman Corp		923
	112,424		KBR, Inc		1,628
	59,735		Kennametal, Inc		2,012
	24,548	*,e	KEYW Holding Corp		202
	38,579	*	KLX, Inc		1,487
	40,842	*	Kratos Defense & Security Solutions, Inc		226
	65,265		L-3 Communications Holdings, Inc		8,210
	13,874	*,e	Layne Christensen Co		69
	7,262		LB Foster Co (Class A)		345
	37,233	e	Lennox International, Inc		4,159
	59,421		Lincoln Electric Holdings, Inc		3,886
	10,010	e	Lindsay Manufacturing Co		763
	6,398	*,e	LMI Aerospace, Inc		78
	203,203		Lockheed Martin Corp		41,242
	12,960		LSI Industries, Inc		106
	12,907	*	Lydall, Inc		409
	8,938	*,e	Manitex International, Inc		87
	100,071	e	Manitowoc Co, Inc		2,158
	272,388		Masco Corp		7,273
	22,281	*	Masonite International Corp		1,499
	48,078	*	Mastec, Inc		928
	42,810	*	Middleby Corp		4,394
	7,280		Miller Industries, Inc		178
	34,691	*	Moog, Inc (Class A)		2,604
	65,659	*,e	MRC Global, Inc		778
	34,779		MSC Industrial Direct Co (Class A)		2,511
	42,636		Mueller Industries, Inc		1,540
	118,277		Mueller Water Products, Inc (Class A)		1,165
	14,064	*	MYR Group, Inc		441
	3,938	e	National Presto Industries, Inc		250
	41,173	*,e	Navistar International Corp		1,215
	19,754	*	NCI Building Systems, Inc		341
	12,459		NN, Inc		312
	5,698	*	Norcraft Cos, Inc		146
	48,825		Nordson Corp		3,825
	6,979	*	Nortek, Inc		616

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	150,412		Northrop Grumman Corp	$	24,210
	8,845	*	Northwest Pipe Co		203
	81,084	*,e	NOW, Inc		1,755
	12,556		Omega Flex, Inc		316
	44,268		Orbital ATK, Inc		3,392
	19,593	*	Orion Marine Group, Inc		174
	64,452		Oshkosh Truck Corp		3,145
	89,090		Owens Corning, Inc		3,866
	266,790		Paccar, Inc		16,845
	81,996		Pall Corp		8,232
	110,834		Parker Hannifin Corp		13,165
	6,248	*	Patrick Industries, Inc		389
	146,597		Pentair plc		9,219
	28,503	*	Perini Corp		666
	36,380	*	Pgt, Inc		407
	125,956	*,e	Plug Power, Inc		326
	12,258	*	Ply Gem Holdings, Inc		159
	33,167	*	Polypore International, Inc		1,954
	7,077		Powell Industries, Inc		239
	3,314	*,e	Power Solutions International, Inc		213
	14,420	*,e	PowerSecure International, Inc		190
	108,495		Precision Castparts Corp		22,784
	1,801		Preformed Line Products Co		76
	28,783		Primoris Services Corp		495
	17,206	*,e	Proto Labs, Inc		1,204
	28,579		Quanex Building Products Corp		564
	159,563	*	Quanta Services, Inc		4,552
	27,582		Raven Industries, Inc		564
	234,473		Raytheon Co		25,616
	18,319		RBC Bearings, Inc		1,402
	34,163		Regal-Beloit Corp		2,730
	54,254	*,e	Revolution Lighting Technologies, Inc		60
	56,742	*	Rexnord Corp		1,514
	103,811		Rockwell Automation, Inc		12,041
	102,927		Rockwell Collins, Inc		9,938
	74,169		Roper Industries, Inc		12,757
	26,334	*	Rush Enterprises, Inc (Class A)		720
	1,869		SIFCO Industries, Inc		41
	31,268		Simpson Manufacturing Co, Inc		1,168
	43,514		Snap-On, Inc		6,399
	32,188	*,e	SolarCity Corp		1,651
	7,959	*	Sparton Corp		195
	90,789	*	Spirit Aerosystems Holdings, Inc (Class A)		4,740
	33,223		SPX Corp		2,821
	9,752		Standex International Corp		801
	118,173		Stanley Works		11,269
	12,518	*	Sterling Construction Co, Inc		57
	10,746	*	Stock Building Supply Holdings, Inc		194
	16,194		Sun Hydraulics Corp		670
	26,344	e	TAL International Group, Inc		1,073
	38,585	*,e	Taser International, Inc		930
	28,168	*	Teledyne Technologies, Inc		3,006

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	13,262		Tennant Co	$	867
	84,391		Terex Corp		2,244
	15,040		Textainer Group Holdings Ltd		451
	211,415		Textron, Inc		9,372
	7,401	*,e	The ExOne Company		101
	24,419	*	Thermon Group Holdings		588
	61,779		Timken Co		2,603
	33,155	e	Titan International, Inc		310
	11,613	*,e	Titan Machinery, Inc		155
	42,710		Toro Co		2,995
	39,994		TransDigm Group, Inc		8,747
	26,406	*	Trex Co, Inc		1,440
	34,233	*	Trimas Corp		1,054
	117,311		Trinity Industries, Inc		4,166
	39,203		Triumph Group, Inc		2,341
	6,504		Twin Disc, Inc		115
	72,971	*	United Rentals, Inc		6,652
	687,057		United Technologies Corp		80,523
	14,766		Universal Forest Products, Inc		819
	61,524	*,e	USG Corp		1,643
	20,359	e	Valmont Industries, Inc		2,502
	7,860	*	Vectrus, Inc		200
	6,270	*	Veritiv Corp		277
	12,845	*	Vicor Corp		195
	43,350	e	W.W. Grainger, Inc		10,222
	52,045	*	Wabash National Corp		734
	42,633	*	WABCO Holdings, Inc		5,239
	19,517		Watsco, Inc		2,453
	21,144		Watts Water Technologies, Inc (Class A)		1,164
	33,347	*,e	WESCO International, Inc		2,331
	73,575		Westinghouse Air Brake Technologies Corp		6,990
	50,082		Woodward Governor Co		2,555
	8,335	*	Xerium Technologies, Inc		135
	139,358		Xylem, Inc		4,880
			TOTAL CAPITAL GOODS		1,342,381
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
	41,289		ABM Industries, Inc		1,316
	37,820	e	Acacia Research (Acacia Technologies)		405
	87,875	*	ACCO Brands Corp		730
	16,355		Administaff, Inc		855
	132,139	e	ADT Corp		5,486
	27,004	*	Advisory Board Co		1,439
	16,280	e	American Ecology Corp		814
	26,021	*	ARC Document Solutions, Inc		240
	6,166		Barrett Business Services, Inc		264
	35,197		Brady Corp (Class A)		996
	35,828		Brink’s Co		990
	29,675	*	Casella Waste Systems, Inc (Class A)		163
	35,493	*,e	CBIZ, Inc		331
	10,344		CDI Corp		145
	16,272	e	Ceco Environmental Corp		173

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	38,005	*,e	Cenveo, Inc	$	81
	74,328		Cintas Corp		6,067
	71,226		Civeo Corp		181
	46,034	*,e	Clean Harbors, Inc		2,614
	84,979	*	Copart, Inc		3,193
	25,057		Corporate Executive Board Co		2,001
	87,736		Corrections Corp of America		3,532
	80,750		Covanta Holding Corp		1,811
	8,400	*	CRA International, Inc		261
	37,676		Deluxe Corp		2,610
	28,017		Dun & Bradstreet Corp		3,596
	20,052		Ennis, Inc		283
	92,429		Equifax, Inc		8,596
	9,836		Exponent, Inc		874
	9,375	*	Franklin Covey Co		181
	32,036	*	FTI Consulting, Inc		1,200
	15,088		G & K Services, Inc (Class A)		1,094
	12,104	*	GP Strategies Corp		448
	51,852	e	Healthcare Services Group		1,666
	14,300		Heidrick & Struggles International, Inc		352
	5,613	*	Heritage-Crystal Clean, Inc		66
	43,782		Herman Miller, Inc		1,215
	18,011	*	Hill International, Inc		65
	33,809		HNI Corp		1,865
	17,734	*	Huron Consulting Group, Inc		1,173
	14,961	*	ICF International, Inc		611
	114,792	*	ICO Global Communications Holdings Ltd		149
	51,546	*	IHS, Inc (Class A)		5,864
	33,730	*	Innerworkings, Inc		227
	50,709		Interface, Inc		1,054
	105,770		KAR Auction Services, Inc		4,012
	20,372		Kelly Services, Inc (Class A)		355
	21,985		Kforce, Inc		491
	25,171		Kimball International, Inc (Class B)		264
	35,963		Knoll, Inc		843
	38,704		Korn/Ferry International		1,272
	58,553		Manpower, Inc		5,044
	25,301		Matthews International Corp (Class A)		1,303
	19,108		McGrath RentCorp		629
	13,300	*	Mistras Group, Inc		256
	35,372		Mobile Mini, Inc		1,508
	21,996		MSA Safety, Inc		1,097
	8,734		Multi-Color Corp		606
	40,393	*	Navigant Consulting, Inc		524
	213,027		Nielsen Holdings NV		9,495
	4,943		NL Industries, Inc		38
	41,074	*	On Assignment, Inc		1,576
	6,193	*,e	Paylocity Holding Corp		177
	22,392	*	Performant Financial Corp		76
	152,067		Pitney Bowes, Inc		3,546
	19,286		Quad		443
	8,621	*,e	Quest Resource Holding Corp		11

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	146,914		R.R. Donnelley & Sons Co	$	2,819
	198,459		Republic Services, Inc		8,050
	32,857		Resources Connection, Inc		575
	103,581		Robert Half International, Inc		6,269
	72,891		Rollins, Inc		1,803
	39,749	*	RPX Corp		572
	12,140	*	SP Plus Corp		265
	64,080		Steelcase, Inc (Class A)		1,214
	63,252	*	Stericycle, Inc		8,883
	15,368	*	Team, Inc		599
	47,935		Tetra Tech, Inc		1,151
	48,500		Towers Watson & Co		6,411
	11,837	*	TriNet Group, Inc		417
	30,958	*	TrueBlue, Inc		754
	321,345		Tyco International plc		13,837
	11,064		Unifirst Corp		1,302
	31,063		United Stationers, Inc		1,273
	126,116	*	Verisk Analytics, Inc		9,005
	15,178		Viad Corp		422
	2,793		VSE Corp		229
	26,743	*	WageWorks, Inc		1,426
	91,756		Waste Connections, Inc		4,417
	348,412		Waste Management, Inc		18,894
	29,070		West Corp		981
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		192,411
CONSUMER DURABLES & APPAREL - 1.6%
	9,523		Arctic Cat, Inc		346
	21,459	*,e	Beazer Homes USA, Inc		380
	23,174	*	Black Diamond, Inc		219
	68,196		Brunswick Corp		3,509
	58,438		Callaway Golf Co		557
	40,586		Carter’s, Inc		3,753
	6,619	*	Cavco Industries, Inc		497
	22,760	*,e	Century Communities, Inc		440
	204,773		Coach, Inc		8,484
	18,878		Columbia Sportswear Co		1,150
	68,785	*	CROCS, Inc		812
	5,480		CSS Industries, Inc		165
	6,895		Culp, Inc		184
	26,041	*	Deckers Outdoor Corp		1,898
	11,720	*,e	Dixie Group, Inc		106
	214,302		DR Horton, Inc		6,103
	7,865		Escalade, Inc		137
	18,783		Ethan Allen Interiors, Inc		519
	3,461		Flexsteel Industries, Inc		108
	35,123	*	Fossil Group, Inc		2,896
	90,189	e	Garmin Ltd		4,286
	13,268	*	G-III Apparel Group Ltd		1,495
	15,629	*,e	GoPro, Inc		678
	299,272		Hanesbrands, Inc		10,029
	51,667		Harman International Industries, Inc		6,904

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	87,267	e	Hasbro, Inc	$	5,519
	21,693	*	Helen of Troy Ltd		1,768
	93,175	*,e	Hovnanian Enterprises, Inc (Class A)		332
	34,721	*,e	Iconix Brand Group, Inc		1,169
	6,890	*,e	Installed Building Products Inc		150
	21,039	*,e	iRobot Corp		686
	20,248	*,e	Jakks Pacific, Inc		138
	145,246	*	Jarden Corp		7,684
	3,583		Johnson Outdoors, Inc		119
	97,088	*	Kate Spade & Co		3,242
	63,287	e	KB Home		989
	39,237		La-Z-Boy, Inc		1,103
	52,779	*,e	Leapfrog Enterprises, Inc		115
	105,108		Leggett & Platt, Inc		4,844
	126,090		Lennar Corp (Class A)		6,533
	10,716	*,e	LGI Homes, Inc		179
	16,013		Libbey, Inc		639
	7,210		Lifetime Brands, Inc		110
	16,714	*	M/I Homes, Inc		398
	9,100	*	Malibu Boats Inc		212
	8,407	e	Marine Products Corp		72
	253,542		Mattel, Inc		5,793
	29,150	e	MDC Holdings, Inc		831
	28,574	*	Meritage Homes Corp		1,390
	153,320	*	Michael Kors Holdings Ltd		10,081
	46,185	*	Mohawk Industries, Inc		8,579
	12,667		Movado Group, Inc		361
	4,424		Nacco Industries, Inc (Class A)		234
	22,756	*	Nautilus, Inc		347
	6,504	*	New Home Co Inc		104
	206,517		Newell Rubbermaid, Inc		8,069
	523,494		Nike, Inc (Class B)		52,522
	3,356	*	NVR, Inc		4,459
	10,973		Oxford Industries, Inc		828
	8,860	*	Perry Ellis International, Inc		205
	61,650		Phillips-Van Heusen Corp		6,569
	49,324		Polaris Industries, Inc		6,960
	34,091		Pool Corp		2,378
	287,099		Pulte Homes, Inc		6,382
	161,179	*,e	Quiksilver, Inc		298
	44,148		Ralph Lauren Corp		5,805
	35,106		Ryland Group, Inc		1,711
	12,710	*,e	Sequential Brands Group, Inc		136
	29,390	*	Skechers U.S.A., Inc (Class A)		2,113
	12,508	*	Skullcandy, Inc		141
	48,359	*,e	Smith & Wesson Holding Corp		616
	112,658	*	Standard-Pacific Corp		1,014
	45,166	*	Steven Madden Ltd		1,716
	14,503	e	Sturm Ruger & Co, Inc		720
	24,241	*	Taylor Morrison Home Corp		505
	45,528	*	Tempur-Pedic International, Inc		2,629
	132,536	*	Toll Brothers, Inc		5,214

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	107,000	*	TRI Pointe Homes, Inc	$	1,651
	36,378	*,e	Tumi Holdings, Inc		890
	38,199		Tupperware Corp		2,636
	5,056	*,e	Turtle Beach Corp		9
	5,823	*	UCP, Inc (Class A)		51
	127,428	*	Under Armour, Inc (Class A)		10,290
	10,905	*	Unifi, Inc		394
	11,370	*	Universal Electronics, Inc		642
	16,444	*,e	Vera Bradley, Inc		267
	259,479		VF Corp		19,541
	9,200	*	Vince Holding Corp		171
	48,356	*	Vista Outdoor, Inc		2,071
	8,501	*	WCI Communities, Inc		204
	5,214		Weyco Group, Inc		156
	58,219		Whirlpool Corp		11,764
	13,294	*	William Lyon Homes, Inc		343
	76,448	e	Wolverine World Wide, Inc		2,557
			TOTAL CONSUMER DURABLES & APPAREL		284,003
CONSUMER SERVICES - 2.2%
	7,931	*	2U, Inc		203
	13,862	*	American Public Education, Inc		416
	69,950	*	Apollo Group, Inc (Class A)		1,323
	25,000		ARAMARK Holdings Corp		791
	11,587	*	Ascent Media Corp (Series A)		461
	71,477	*	Belmond Ltd.		878
	18,782	*	BJ’s Restaurants, Inc		947
	58,200		Bloomin’ Brands, Inc		1,416
	21,179	e	Bob Evans Farms, Inc		980
	58,143	*	Boyd Gaming Corp		826
	14,947	*	Bravo Brio Restaurant Group, Inc		220
	13,548	*	Bridgepoint Education, Inc		131
	23,382	*	Bright Horizons Family Solutions		1,199
	50,290		Brinker International, Inc		3,096
	14,166	*	Buffalo Wild Wings, Inc		2,567
	27,726	*,e	Caesars Acquisition Co		188
	38,423	*,e	Caesars Entertainment Corp		405
	8,131		Capella Education Co		527
	46,334	*	Career Education Corp		233
	318,100		Carnival Corp		15,218
	12,748	e	Carriage Services, Inc		304
	27,792	*	Carrols Restaurant Group, Inc		230
	14,608	e	CBRL Group, Inc		2,222
	37,810		Cheesecake Factory		1,865
	54,819	*,e	Chegg, Inc		436
	23,368	*	Chipotle Mexican Grill, Inc (Class A)		15,202
	26,423		Choice Hotels International, Inc		1,693
	10,504		Churchill Downs, Inc		1,208
	12,474	*	Chuy’s Holdings, Inc		281
	15,700		ClubCorp Holdings, Inc		304
	5,623		Collectors Universe		127
	100,344		Darden Restaurants, Inc		6,958

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	17,725	*	Del Frisco’s Restaurant Group, Inc	$	357
	75,312	*	Denny’s Corp		859
	48,007		DeVry, Inc		1,601
	26,852	*	Diamond Resorts International, Inc		898
	12,442		DineEquity, Inc		1,331
	42,657		Domino’s Pizza, Inc		4,289
	81,221		Dunkin Brands Group, Inc		3,863
	6,804	*,e	El Pollo Loco Holdings, Inc		174
	11,217	*,e	Empire Resorts, Inc		52
	3,282	*,e	Famous Dave’s of America, Inc		93
	20,469	*	Fiesta Restaurant Group, Inc		1,249
	2,614		Graham Holdings Co		2,744
	34,464	*	Grand Canyon Education, Inc		1,492
	205,098		H&R Block, Inc		6,577
	102,800	*	Hilton Worldwide Holdings, Inc		3,045
	82,847	*	Houghton Mifflin Harcourt Co		1,945
	31,491	*	Hyatt Hotels Corp		1,865
	4,863	*,e	Ignite Restaurant Group, Inc		24
	20,955		International Speedway Corp (Class A)		683
	33,777		Interval Leisure Group, Inc		885
	13,700	*	Intrawest Resorts Holdings Inc		119
	15,534	*	Isle of Capri Casinos, Inc		218
	30,287		Jack in the Box, Inc		2,905
	12,737	*,e	Jamba, Inc		187
	26,055	*	K12, Inc		410
	51,222	*	Krispy Kreme Doughnuts, Inc		1,024
	33,801	*	La Quinta Holdings, Inc		800
	283,236		Las Vegas Sands Corp		15,589
	3,365	*	Liberty Tax, Inc		94
	30,327	*	Life Time Fitness, Inc		2,152
	61,345	*	LifeLock, Inc		866
	14,891		Marcus Corp		317
	156,869		Marriott International, Inc (Class A)		12,600
	21,460		Marriott Vacations Worldwide Corp		1,739
	740,773		McDonald’s Corp		72,181
	282,640	*,e	MGM Mirage		5,944
	7,140	*	Monarch Casino & Resort, Inc		137
	23,956	*	Morgans Hotel Group Co		186
	2,018		Nathan’s Famous, Inc		109
	8,091	*,e	Noodles & Co		141
	67,869	*	Norwegian Cruise Line Holdings Ltd		3,666
	18,433	*,e	Panera Bread Co (Class A)		2,949
	24,166		Papa John’s International, Inc		1,494
	19,603	*	Papa Murphy’s Holdings, Inc		356
	60,160	*	Penn National Gaming, Inc		942
	43,980	*	Pinnacle Entertainment, Inc		1,587
	18,260	*	Popeyes Louisiana Kitchen, Inc		1,092
	11,582	*,e	Potbelly Corp		159
	10,662	*	Red Robin Gourmet Burgers, Inc		928
	37,371	*	Regis Corp		611
	156,925	*,e	Restaurant Brands International, Inc		6,027
	124,741		Royal Caribbean Cruises Ltd		10,210

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	46,223	*	Ruby Tuesday, Inc	$	278
	26,831		Ruth’s Chris Steak House, Inc		426
	39,839	*,e	Scientific Games Corp (Class A)		417
	51,334		SeaWorld Entertainment, Inc		990
	161,096		Service Corp International		4,196
	31,340	*	ServiceMaster Global Holdings, Inc		1,058
	50,232		Six Flags Entertainment Corp		2,432
	40,899		Sonic Corp		1,296
	46,276	e	Sotheby’s (Class A)		1,956
	9,984		Speedway Motorsports, Inc		227
	564,212		Starbucks Corp		53,431
	143,413		Starwood Hotels & Resorts Worldwide, Inc		11,975
	1,378	*	Steak N Shake Co		571
	11,970	*	Steiner Leisure Ltd		567
	7,659	*,e	Strayer Education, Inc		409
	48,004		Texas Roadhouse, Inc (Class A)		1,749
	15,190		Universal Technical Institute, Inc		146
	27,599		Vail Resorts, Inc		2,854
	20,024	*,e	Weight Watchers International, Inc		140
	207,760		Wendy’s		2,265
	96,319		Wyndham Worldwide Corp		8,714
	60,950		Wynn Resorts Ltd		7,672
	330,788		Yum! Brands, Inc		26,040
	4,563	*,e	Zoe’s Kitchen, Inc		152
			TOTAL CONSUMER SERVICES		374,581
DIVERSIFIED FINANCIALS - 3.8%
	41,455	*	Affiliated Managers Group, Inc		8,904
	204,666	*	Ally Financial, Inc		4,294
	679,747		American Express Co		53,102
	142,816		Ameriprise Financial, Inc		18,686
	14,257	e	Arlington Asset Investment Corp (Class A)		343
	20,852		Artisan Partners Asset Management, Inc		948
	608	*	Ashford, Inc		72
	856,027		Bank of New York Mellon Corp		34,447
	131,560		BGC Partners, Inc (Class A)		1,243
	95,550		BlackRock, Inc		34,956
	16,951		Calamos Asset Management, Inc (Class A)		228
	428,376		Capital One Financial Corp		33,765
	20,380		Cash America International, Inc		475
	66,839		CBOE Holdings, Inc		3,837
	836,494		Charles Schwab Corp		25,463
	7,179	e	CIFC Corp		55
	240,161		CME Group, Inc		22,746
	14,207		Cohen & Steers, Inc		582
	10,988	*	Consumer Portfolio Services, Inc		77
	75,792	*	Cowen Group, Inc		394
	5,392	*	Credit Acceptance Corp		1,051
	1,990		Diamond Hill Investment Group, Inc		318
	349,103		Discover Financial Services		19,672
	216,676	*	E*Trade Financial Corp		6,187
	91,544		Eaton Vance Corp		3,812

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,334	*,e	Encore Capital Group, Inc	$	804
	18,647	*	Enova International, Inc		367
	24,923		Evercore Partners, Inc (Class A)		1,288
	38,445	*,e	Ezcorp, Inc (Class A)		351
	9,821	*	FBR & Co		227
	69,691	e	Federated Investors, Inc (Class B)		2,362
	24,965	e	Fifth Street Asset Management, Inc		281
	39,058	e	Financial Engines, Inc		1,634
	21,634	*	First Cash Financial Services, Inc		1,006
	69,681	*	FNFV Group		983
	298,418		Franklin Resources, Inc		15,315
	18,319	e	Gain Capital Holdings, Inc		179
	6,584		GAMCO Investors, Inc (Class A)		517
	335,113		Goldman Sachs Group, Inc		62,991
	23,327	*	Green Dot Corp		371
	22,433		Greenhill & Co, Inc		889
	25,335		HFF, Inc (Class A)		951
	40,633		Interactive Brokers Group, Inc (Class A)		1,382
	86,996		IntercontinentalExchange Group, Inc		20,294
	12,794	*	INTL FCStone, Inc		380
	327,740		Invesco Ltd		13,008
	28,315	*	Investment Technology Group, Inc		858
	19,000	e	iShares Russell 2000 Index Fund		2,363
	112,095		Janus Capital Group, Inc		1,927
	9,015	*,e	JG Wentworth Co		94
	39,750	*	KCG Holdings, Inc		487
	73,441	*,e	Ladenburg Thalmann Financial Services, Inc		283
	92,967		Lazard Ltd (Class A)		4,889
	78,240		Legg Mason, Inc		4,319
	278,931		Leucadia National Corp		6,217
	66,106		LPL Financial Holdings, Inc		2,899
	10,552		Manning & Napier, Inc		137
	27,836		MarketAxess Holdings, Inc		2,308
	6,533		Marlin Business Services Corp		131
	203,846		McGraw-Hill Financial, Inc		21,078
	19,160	e	Medley Management, Inc		211
	5,647		Moelis & Co		170
	141,696		Moody’s Corp		14,708
	1,149,502		Morgan Stanley		41,026
	88,261		MSCI, Inc (Class A)		5,411
	84,624		NASDAQ OMX Group, Inc		4,311
	314,078		Navient Corp		6,385
	15,278		Nelnet, Inc (Class A)		723
	21,889	*	NewStar Financial, Inc		257
	7,402		Nicholas Financial, Inc		104
	178,680		Northern Trust Corp		12,445
	139,841		NorthStar Asset Management Group, Inc		3,264
	38,892		OM Asset Management plc		725
	7,363		Oppenheimer Holdings, Inc		173
	41,814	*,e	PHH Corp		1,011
	17,372	*	Pico Holdings, Inc		282
	13,978	*	Piper Jaffray Cos		733

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	37,321	*,e	PRA Group, Inc	$	2,027
	9,591		Pzena Investment Management, Inc (Class A)		88
	94,509		Raymond James Financial, Inc		5,366
	8,577	*	Regional Management Corp		127
	9,098		Resource America, Inc (Class A)		83
	19,711	*	Safeguard Scientifics, Inc		356
	66,420		Santander Consumer USA Holdings, Inc		1,537
	100,365		SEI Investments Co		4,425
	3,845		Silvercrest Asset Management Group, Inc		55
	320,682		SLM Corp		2,976
	8,400	e	SPDR S&P MidCap 400 ETF Trust		2,329
	120,000		SPDR Trust Series 1		24,772
	18,800	*,e	Springleaf Holdings, Inc		973
	322,586		State Street Corp		23,720
	49,761	*	Stifel Financial Corp		2,774
	97,117	*	Synchrony Financial		2,947
	197,360		T Rowe Price Group, Inc		15,982
	185,673		TD Ameritrade Holding Corp		6,918
	6,509	*,e	Tiptree Financial, Inc		43
	5,194		Virtus Investment Partners, Inc		679
	106,485		Voya Financial, Inc		4,591
	65,189		Waddell & Reed Financial, Inc (Class A)		3,229
	28,439	*,e	Walter Investment Management Corp		459
	5,409		Westwood Holdings Group, Inc		326
	80,939		WisdomTree Investments, Inc		1,737
	6,547	*,e	World Acceptance Corp		477
			TOTAL DIVERSIFIED FINANCIALS		650,162
ENERGY - 7.2%
	70,225	*	Abraxas Petroleum Corp		228
	1,730		Adams Resources & Energy, Inc		116
	17,965		Alon USA Energy, Inc		298
	13,406	*,e	Amyris Biotechnologies, Inc		32
	378,502		Anadarko Petroleum Corp		31,344
	40,296	*,e	Antero Resources Corp		1,423
	289,064		Apache Corp		17,439
	30,066	*,e	Approach Resources, Inc		198
	14,064	e	Ardmore Shipping Corp		142
	36,028	*,e	Aspen Aerogels, Inc		262
	42,045		Atwood Oceanics, Inc		1,182
	326,738		Baker Hughes, Inc		20,774
	23,122	*	Basic Energy Services, Inc		160
	48,074	*,e	Bill Barrett Corp		399
	24,316	*	Bonanza Creek Energy, Inc		600
	26,221		Bristow Group, Inc		1,428
	34,352	*,e	C&J Energy Services Ltd		382
	315,766		Cabot Oil & Gas Corp		9,325
	235,429		California Resources Corp		1,792
	30,407	*	Callon Petroleum Co		227
	154,562	*	Cameron International Corp		6,974
	15,028	e	CARBO Ceramics, Inc		459
	34,645	*	Carrizo Oil & Gas, Inc		1,720

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	178,285	*	Cheniere Energy, Inc	$	13,799
	399,678	e	Chesapeake Energy Corp		5,659
	1,426,764		Chevron Corp		149,782
	66,090		Cimarex Energy Co		7,606
	4,602	*,e	Clayton Williams Energy, Inc		233
	70,229	*,e	Clean Energy Fuels Corp		375
	46,507	*	Cloud Peak Energy, Inc		271
	265,537	*	Cobalt International Energy, Inc		2,499
	36,545	e	Comstock Resources, Inc		130
	84,892	*	Concho Resources, Inc		9,841
	919,428		ConocoPhillips		57,244
	173,265		Consol Energy, Inc		4,832
	12,994	*	Contango Oil & Gas Co		286
	64,816	*,e	Continental Resources, Inc		2,831
	11,149	e	CVR Energy, Inc		475
	37,115		Delek US Holdings, Inc		1,475
	266,127	e	Denbury Resources, Inc		1,940
	305,699		Devon Energy Corp		18,437
	53,570		DHT Holdings, Inc		374
	50,196	e	Diamond Offshore Drilling, Inc		1,345
	28,919	*	Diamondback Energy, Inc		2,222
	5,647	*	Dorian LPG Ltd		74
	57,836	*	Dresser-Rand Group, Inc		4,647
	30,642	*	Dril-Quip, Inc		2,096
	23,439	*,e	Eclipse Resources Corp		132
	43,233	*,e	Emerald Oil, Inc		32
	55,035		Energen Corp		3,632
	409,577		EOG Resources, Inc		37,554
	25,000	*,e	EP Energy Corp		262
	114,878		EQT Corp		9,520
	12,643	*	Era Group, Inc		263
	11,704		Evolution Petroleum Corp		70
	130,558	e	EXCO Resources, Inc		239
	43,775		Exterran Holdings, Inc		1,470
	3,218,577	d	Exxon Mobil Corp		273,579
	178,050	*	FMC Technologies, Inc		6,590
	36,137	*,e	FMSA Holdings, Inc		262
	39,615	*	Forum Energy Technologies, Inc		776
	26,300		Frank’s International NV		492
	39,564	*,e	Frontline Ltd		89
	36,931	*,e	FX Energy, Inc		46
	32,033	e	GasLog Ltd		622
	46,154	*	Gastar Exploration, Inc		121
	9,836	*,e	Geospace Technologies Corp		162
	8,901	*,e	Glori Energy, Inc		19
	33,053	e	Golar LNG Ltd		1,100
	26,945		Green Plains Renewable Energy, Inc		769
	11,124		Gulf Island Fabrication, Inc		165
	20,444	e	Gulfmark Offshore, Inc		267
	64,737	*	Gulfport Energy Corp		2,972
	197,703	*,e	Halcon Resources Corp		304
	3,710		Hallador Petroleum Co		43

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	633,914		Halliburton Co	$	27,816
	33,334	*,e	Harvest Natural Resources, Inc		15
	81,306	*	Helix Energy Solutions Group, Inc		1,216
	71,374	e	Helmerich & Payne, Inc		4,858
	189,789		Hess Corp		12,881
	150,647		Holly Corp		6,067
	27,723	*,e	Hornbeck Offshore Services, Inc		521
	100,154	*	ION Geophysical Corp		217
	823	*	Isramco, Inc		104
	8,500	*,e	Jones Energy, Inc (Class A)		76
	99,683	*	Key Energy Services, Inc		181
	1,019,501		Kinder Morgan, Inc		42,880
	73,463	*	Kosmos Energy LLC		581
	58,420	*,e	Laredo Petroleum Holdings, Inc		762
	152,810	*,e	Magnum Hunter Resources Corp		408
	508,475		Marathon Oil Corp		13,276
	178,433		Marathon Petroleum Corp		18,270
	55,403	*,e	Matador Resources Co		1,214
	23,922	*	Matrix Service Co		420
	180,710	*,e	McDermott International, Inc		694
	34,077	*	Memorial Resource Development Corp		605
	37,819	*,e	Miller Petroleum, Inc		24
	9,855	*	Mitcham Industries, Inc		45
	134,308		Murphy Oil Corp		6,259
	223,659		Nabors Industries Ltd		3,053
	322,057		National Oilwell Varco, Inc		16,100
	9,713	*	Natural Gas Services Group, Inc		187
	61,477		Navios Maritime Acq Corp		218
	103,184	*	Newfield Exploration Co		3,621
	69,133	*	Newpark Resources, Inc		630
	290,889		Noble Energy, Inc		14,224
	13,964	e	Nordic American Offshore Ltd		128
	68,002	e	Nordic American Tanker Shipping		810
	54,400	e	North Atlantic Drilling Ltd		63
	48,403	*,e	Northern Oil And Gas, Inc		373
	76,721	*,e	Oasis Petroleum, Inc		1,091
	588,574		Occidental Petroleum Corp		42,966
	82,172		Oceaneering International, Inc		4,432
	35,581	*	Oil States International, Inc		1,415
	156,584		Oneok, Inc		7,554
	15,683	*,e	Pacific Ethanol, Inc		169
	10,734		Panhandle Oil and Gas, Inc (Class A)		212
	96,030	*	Parker Drilling Co		335
	37,983	*,e	Parsley Energy, Inc		607
	109,613		Patterson-UTI Energy, Inc		2,058
	51,801		PBF Energy, Inc		1,757
	27,088	*	PDC Energy, Inc		1,464
	207,042	e	Peabody Energy Corp		1,019
	50,170	*,e	Penn Virginia Corp		325
	43,261	*	Petroquest Energy, Inc		100
	9,723	*	PHI, Inc		292
	424,080		Phillips 66		33,333

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	42,944	*	Pioneer Energy Services Corp	$	233
	107,751		Pioneer Natural Resources Co		17,618
	9,686	*,e	Profire Energy, Inc		13
	136,144		Questar Market Resources, Inc		2,839
	124,202		Range Resources Corp		6,463
	21,954	*	Renewable Energy Group, Inc		202
	36,039	*,e	Rex Energy Corp		134
	5,384	*	Rex Stores Corp		327
	38,100	*,e	Rice Energy, Inc		829
	9,601	*,e	RigNet, Inc		274
	14,462	*,e	Ring Energy, Inc		154
	45,950	*	Rosetta Resources, Inc		782
	93,726		Rowan Cos plc		1,660
	46,325		RPC, Inc		593
	17,500	*	RSP Permian, Inc		441
	46,742	*,e	Sanchez Energy Corp		608
	375,818	*,e	SandRidge Energy, Inc		669
	974,712		Schlumberger Ltd		81,330
	129,737		Scorpio Tankers, Inc		1,222
	15,043	*	SEACOR Holdings, Inc		1,048
	267,582	e	Seadrill Ltd		2,502
	31,863		SemGroup Corp		2,592
	28,548	*,e	Seventy Seven Energy, Inc		118
	45,041	e	Ship Finance International Ltd		667
	266,793	*,e	Southwestern Energy Co		6,187
	502,659		Spectra Energy Corp		18,181
	50,791		St. Mary Land & Exploration Co		2,625
	42,383	*	Stone Energy Corp		622
	118,843		Superior Energy Services		2,655
	39,048	*,e	Swift Energy Co		84
	44,903	*	Synergy Resources Corp		532
	36,476		Targa Resources Investments, Inc		3,494
	34,489		Teekay Corp		1,606
	48,134	e	Teekay Tankers Ltd (Class A)		276
	26,063		Tesco Corp		296
	97,850		Tesoro Corp		8,933
	61,337	*	Tetra Technologies, Inc		379
	36,444	e	Tidewater, Inc		698
	17,866	*,e	TransAtlantic Petroleum Ltd		95
	56,984	*,e	Triangle Petroleum Corp		287
	116,012	*,e	Ultra Petroleum Corp		1,813
	36,980	*	Unit Corp		1,035
	40,307	e	US Silica Holdings Inc		1,435
	48,465	*	Vaalco Energy, Inc		119
	401,926		Valero Energy Corp		25,571
	169,150	*,e	Vantage Drilling Co		55
	8,585	*,e	Vertex Energy, Inc		32
	26,733	e	W&T Offshore, Inc		137
	67,894	*	Warren Resources, Inc		60
	41,371		Western Refining, Inc		2,043
	10,257	*	Westmoreland Coal Co		274
	125,774	*	Whiting Petroleum Corp		3,886

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	561,614		Williams Cos, Inc	$	28,412
	55,107		World Fuel Services Corp		3,168
	151,612	*	WPX Energy, Inc		1,657
			TOTAL ENERGY		1,244,820
FOOD & STAPLES RETAILING - 2.2%
	21,366		Andersons, Inc		884
	29,135		Casey’s General Stores, Inc		2,625
	14,374	*,e	Chefs’ Warehouse Holdings, Inc		322
	329,586		Costco Wholesale Corp		49,931
	876,313		CVS Corp		90,444
	11,866	*,e	Fairway Group Holdings Corp		80
	31,233	*,e	Fresh Market, Inc		1,269
	8,163		Ingles Markets, Inc (Class A)		404
	381,395		Kroger Co		29,238
	24,395	e	Liberator Medical Holdings, Inc		85
	6,410	*	Natural Grocers by Vitamin C		177
	14,319	e	Pricesmart, Inc		1,217
	731,408	*	Rite Aid Corp		6,356
	30,608	*,e	Roundy’s, Inc		150
	28,394		Spartan Stores, Inc		896
	69,957	*	Sprouts Farmers Market, Inc		2,465
	154,781	*	Supervalu, Inc		1,800
	438,160		Sysco Corp		16,532
	38,243	*	United Natural Foods, Inc		2,946
	4,843		Village Super Market (Class A)		152
	714,449		Walgreens Boots Alliance, Inc		60,500
	1,194,081		Wal-Mart Stores, Inc		98,213
	8,834		Weis Markets, Inc		440
	275,968		Whole Foods Market, Inc		14,372
			TOTAL FOOD & STAPLES RETAILING		381,498
FOOD, BEVERAGE & TOBACCO - 4.5%
	32,198	*,e	22nd Century Group, Inc		28
	2,319	e	Alico, Inc		119
	1,488,807		Altria Group, Inc		74,470
	492,251		Archer Daniels Midland Co		23,333
	40,577		B&G Foods, Inc (Class A)		1,194
	6,146	*,e	Boston Beer Co, Inc (Class A)		1,643
	44,670	*	Boulder Brands, Inc		426
	114,934		Brown-Forman Corp (Class B)		10,384
	111,586		Bunge Ltd		9,190
	9,305		Calavo Growers, Inc		478
	23,658	e	Cal-Maine Foods, Inc		924
	130,870	e	Campbell Soup Co		6,092
	3,512		Coca-Cola Bottling Co Consolidated		397
	2,971,326		Coca-Cola Co		120,487
	189,385		Coca-Cola Enterprises, Inc		8,371
	318,825		ConAgra Foods, Inc		11,647
	117,161	*	Constellation Brands, Inc (Class A)		13,615
	7,653	*	Craft Brewers Alliance, Inc		104
	124,713	*	Darling International, Inc		1,747

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	70,011		Dean Foods Co	$	1,157
	16,103	*	Diamond Foods, Inc		524
	148,462		Dr Pepper Snapple Group, Inc		11,651
	5,320	*	Farmer Bros Co		132
	128,238		Flowers Foods, Inc		2,916
	27,620	e	Fresh Del Monte Produce, Inc		1,075
	460,544		General Mills, Inc		26,067
	76,104	*	Hain Celestial Group, Inc		4,874
	111,924		Hershey Co		11,294
	100,334		Hormel Foods Corp		5,704
	55,864		Ingredion, Inc		4,347
	10,713	*	Inventure Foods, Inc		120
	11,326		J&J Snack Foods Corp		1,208
	77,404		J.M. Smucker Co		8,958
	5,780		John B. Sanfilippo & Son, Inc		249
	192,474		Kellogg Co		12,694
	106,276		Keurig Green Mountain, Inc		11,874
	446,174		Kraft Foods Group, Inc		38,868
	14,003		Lancaster Colony Corp		1,333
	38,935		Lance, Inc		1,244
	19,323	*	Landec Corp		270
	3,603	e	Lifeway Foods, Inc		77
	6,464	e	Limoneira Co		141
	272,670		Lorillard, Inc		17,819
	98,712		McCormick & Co, Inc		7,612
	152,786		Mead Johnson Nutrition Co		15,360
	103,045		Molson Coors Brewing Co (Class B)		7,672
	1,269,760		Mondelez International, Inc		45,826
	108,438	*	Monster Beverage Corp		15,007
	8,815	*	National Beverage Corp		215
	15,084	*	Omega Protein Corp		206
	1,136,253		PepsiCo, Inc		108,648
	1,178,849		Philip Morris International, Inc		88,803
	48,235	e	Pilgrim’s Pride Corp		1,090
	40,896		Pinnacle Foods, Inc		1,669
	33,337	*,e	Post Holdings, Inc		1,562
	231,747		Reynolds American, Inc		15,970
	17,484	e	Sanderson Farms, Inc		1,393
	224	*	Seaboard Corp		926
	6,106	*	Seneca Foods Corp		182
	14,223	*,e	Synutra International, Inc		91
	15,818	e	Tootsie Roll Industries, Inc		537
	31,544	*	TreeHouse Foods, Inc		2,682
	201,794		Tyson Foods, Inc (Class A)		7,729
	17,708	e	Universal Corp		835
	52,784	e	Vector Group Ltd		1,160
	131,695	*	WhiteWave Foods Co (Class A)		5,839
			TOTAL FOOD, BEVERAGE & TOBACCO		780,259
HEALTH CARE EQUIPMENT & SERVICES - 5.2%
	9,496	*,e	AAC Holdings, Inc		290
	15,924	e	Abaxis, Inc		1,021

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	1,127,470		Abbott Laboratories	$	52,236
	29,721	*,e	Abiomed, Inc		2,127
	26,970	*	Acadia Healthcare Co, Inc		1,931
	58,290	*,e	Accuray, Inc		542
	20,426		Aceto Corp		449
	4,240	*	Addus HomeCare Corp		98
	4,312	*,e	Adeptus Health, Inc		217
	268,280		Aetna, Inc		28,580
	29,433	*,e	Air Methods Corp		1,371
	61,821	*	Align Technology, Inc		3,325
	4,207	*	Alliance HealthCare Services, Inc		93
	133,589	*	Allscripts Healthcare Solutions, Inc		1,598
	7,268	*	Almost Family, Inc		325
	21,596	*	Amedisys, Inc		578
	169,281		AmerisourceBergen Corp		19,242
	34,893	*	AMN Healthcare Services, Inc		805
	24,628	*	Amsurg Corp		1,515
	9,253		Analogic Corp		841
	18,523	*	Angiodynamics, Inc		330
	10,943	*	Anika Therapeutics, Inc		451
	91,526	*,e	Antares Pharma, Inc		248
	209,933		Anthem, Inc		32,416
	28,653	*,e	athenahealth, Inc		3,421
	21,089	*	AtriCure, Inc		432
	1,165		Atrion Corp		403
	57,809		Bard (C.R.), Inc		9,674
	407,311		Baxter International, Inc		27,901
	156,591		Becton Dickinson & Co		22,485
	17,746	*,e	Bio-Reference Labs, Inc		625
	51,896	*,e	BioScrip, Inc		230
	19,708	*	BioTelemetry, Inc		174
	1,001,367	*	Boston Scientific Corp		17,774
	123,825	*	Brookdale Senior Living, Inc		4,676
	27,942		Cantel Medical Corp		1,327
	21,051	*	Capital Senior Living Corp		546
	254,966		Cardinal Health, Inc		23,016
	20,716	*	Cardiovascular Systems, Inc		809
	9,769	*,e	Castlight Health, Inc		76
	156,388	*	Catamaran Corp		9,311
	87,186	*	Centene Corp		6,163
	223,900	*	Cerner Corp		16,403
	49,516	*,e	Cerus Corp		206
	14,552	e	Chemed Corp		1,737
	201,665		Cigna Corp		26,104
	28,753	*	Civitas Solutions, Inc		602
	87,364	*	Community Health Systems, Inc		4,567
	9,537	e	Computer Programs & Systems, Inc		517
	20,631		Conmed Corp		1,042
	36,230		Cooper Cos, Inc		6,790
	12,032	*	Corvel Corp		414
	22,090	*	Cross Country Healthcare, Inc		262
	19,963		CryoLife, Inc		207

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,834	*	Cyberonics, Inc	$	1,353
	16,811	*	Cynosure, Inc (Class A)		516
	134,706	*	DaVita, Inc		10,949
	107,333		Dentsply International, Inc		5,462
	16,710	*	Derma Sciences, Inc		142
	56,587	*	DexCom, Inc		3,528
	79,607	*	Edwards Lifesciences Corp		11,341
	47,927	*,e	Endologix, Inc		818
	14,856		Ensign Group, Inc		696
	52,626	*	Envision Healthcare Holdings, Inc		2,018
	7,074	*	Exactech, Inc		181
	26,213	*	ExamWorks Group, Inc		1,091
	553,763	*	Express Scripts Holding Co		48,050
	29,310	*	Five Star Quality Care, Inc		130
	15,881	*	Genesis Health Care, Inc		113
	30,765	*,e	GenMark Diagnostics, Inc		399
	49,755	*	Globus Medical, Inc		1,256
	18,107	*	Greatbatch, Inc		1,047
	38,562	*	Haemonetics Corp		1,732
	35,247	*,e	Halyard Health, Inc		1,734
	25,502	*	Hanger Orthopedic Group, Inc		579
	245,031	*	HCA Holdings, Inc		18,434
	60,101	*	Health Net, Inc		3,635
	5,930	*	HealthEquity, Inc		148
	66,457		Healthsouth Corp		2,948
	14,864	*	HealthStream, Inc		375
	28,116	*,e	Healthways, Inc		554
	12,504	*,e	HeartWare International, Inc		1,097
	63,797	*	Henry Schein, Inc		8,907
	43,409		Hill-Rom Holdings, Inc		2,127
	65,676	*	HMS Holdings Corp		1,015
	181,625	*	Hologic, Inc		5,998
	116,002		Humana, Inc		20,651
	9,893	*	ICU Medical, Inc		921
	33,396	*	Idexx Laboratories, Inc		5,159
	35,949	*	IMS Health Holdings, Inc		973
	4,131	*	Inogen Inc		132
	41,898	*	Insulet Corp		1,397
	18,839	*	Integra LifeSciences Holdings Corp		1,161
	27,134	*	Intuitive Surgical, Inc		13,703
	23,110		Invacare Corp		449
	62,113	*	Inverness Medical Innovations, Inc		3,037
	12,768	*	IPC The Hospitalist Co, Inc		595
	6,547	*	K2M Group Holdings, Inc		144
	47,130		Kindred Healthcare, Inc		1,121
	75,177	*	Laboratory Corp of America Holdings		9,479
	8,629		Landauer, Inc		303
	12,518	*	LDR Holding Corp		459
	11,927	*	LHC Group, Inc		394
	33,622	*	LifePoint Hospitals, Inc		2,470
	20,796	*	Magellan Health Services, Inc		1,473
	38,810	*	Masimo Corp		1,280

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	172,760		McKesson Corp	$	39,078
	44,883	*	MedAssets, Inc		845
	39,902	*	Medidata Solutions, Inc		1,957
	1,073,420		Medtronic plc		83,716
	43,385	*	Merge Healthcare, Inc		194
	31,965		Meridian Bioscience, Inc		610
	32,366	*	Merit Medical Systems, Inc		623
	22,845	*	Molina Healthcare, Inc		1,537
	8,081		National Healthcare Corp		515
	5,598	e	National Research Corp		81
	22,829	*	Natus Medical, Inc		901
	27,729	*	Neogen Corp		1,296
	35,423	*	NuVasive, Inc		1,629
	45,234	*	NxStage Medical, Inc		783
	74,986		Omnicare, Inc		5,778
	27,790	*	Omnicell, Inc		975
	36,642	*	OraSure Technologies, Inc		240
	14,876	*	Orthofix International NV		534
	48,567		Owens & Minor, Inc		1,643
	10,159	*,e	Oxford Immunotec Global plc		143
	64,882		Patterson Cos, Inc		3,166
	75,502	*	Pediatrix Medical Group, Inc		5,475
	23,814	*	PharMerica Corp		671
	9,836	*,e	PhotoMedex, Inc		20
	24,800	*	Premier, Inc		932
	8,598	*	Providence Service Corp		457
	37,773		Quality Systems, Inc		604
	110,089		Quest Diagnostics, Inc		8,460
	21,781	*	Quidel Corp		588
	25,914	*	RadNet, Inc		218
	106,456	e	Resmed, Inc		7,641
	31,391	*,e	Rockwell Medical Technologies, Inc		343
	38,631	*	RTI Biologics, Inc		191
	21,248	*,e	Second Sight Medical Products, Inc		272
	36,584		Select Medical Holdings Corp		543
	25,042	*	Sientra, Inc		481
	43,638	*	Sirona Dental Systems, Inc		3,927
	30,482	*,e	Spectranetics Corp		1,060
	214,098		St. Jude Medical, Inc		14,002
	26,141	*,e	Staar Surgical Co		194
	44,285	e	STERIS Corp		3,112
	251,581		Stryker Corp		23,208
	8,600	*	Surgical Care Affiliates, Inc		295
	13,627	*	SurModics, Inc		355
	8,124	*	Symmetry Surgical, Inc		60
	5,981	*	Tandem Diabetes Care, Inc		75
	52,336	*	Team Health Holdings, Inc		3,062
	31,210		Teleflex, Inc		3,771
	73,295	*	Tenet Healthcare Corp		3,629
	42,853	*	Thoratec Corp		1,795
	26,972	*	Tornier BV		707
	20,401	*,e	TransEnterix, Inc		60

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,300	*	Triple-S Management Corp (Class B)	$	404
	5,633	*,e	TriVascular Technologies, Inc		59
	36,586	*,e	Trupanion, Inc		293
	110,774	*,e	Unilife Corp		444
	735,552		UnitedHealth Group, Inc		87,009
	28,773		Universal American Corp		307
	67,302		Universal Health Services, Inc (Class B)		7,922
	8,422		US Physical Therapy, Inc		400
	2,349		Utah Medical Products, Inc		141
	78,706	*	Varian Medical Systems, Inc		7,405
	12,709	*	Vascular Solutions, Inc		385
	66,310	*	VCA Antech, Inc		3,635
	28,575	*,e	Veeva Systems, Inc		730
	4,910	*,e	Veracyte, Inc		36
	15,934	*	Vocera Communications, Inc		158
	32,655	*	WellCare Health Plans, Inc		2,987
	52,696	e	West Pharmaceutical Services, Inc		3,173
	38,008	*	Wright Medical Group, Inc		981
	22,473	*,e	Zeltiq Aesthetics, Inc		693
	126,112		Zimmer Holdings, Inc		14,821
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		906,632
HOUSEHOLD & PERSONAL PRODUCTS - 1.7%
	323,551	e	Avon Products, Inc		2,585
	39,882	*	Central Garden and Pet Co (Class A)		423
	101,605		Church & Dwight Co, Inc		8,679
	96,320		Clorox Co		10,633
	685,599		Colgate-Palmolive Co		47,539
	43,500		Coty, Inc		1,056
	15,686	*,e	Elizabeth Arden, Inc		245
	46,250		Energizer Holdings, Inc		6,385
	170,996		Estee Lauder Cos (Class A)		14,220
	15,213	e	Female Health Co		43
	57,128	*,e	Herbalife Ltd		2,443
	37,377	*	HRG Group, Inc		466
	12,258		Inter Parfums, Inc		400
	281,978		Kimberly-Clark Corp		30,203
	9,661	*	Medifast, Inc		289
	5,868		Nature’s Sunshine Products, Inc		77
	44,175	e	Nu Skin Enterprises, Inc (Class A)		2,660
	8,067	*	Nutraceutical International Corp		159
	3,981		Oil-Dri Corp of America		134
	4,547		Orchids Paper Products Co		123
	2,028,075		Procter & Gamble Co		166,180
	9,587	*	Revlon, Inc (Class A)		395
	15,918		Spectrum Brands, Inc		1,426
	5,403	*,e	USANA Health Sciences, Inc		600
	11,764		WD-40 Co		1,042
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		298,405
INSURANCE - 4.1%
	252,474		ACE Ltd		28,148

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	340,340		Aflac, Inc	$	21,785
	12,235	*	Alleghany Corp		5,958
	74,631		Allied World Assurance Co Holdings Ltd		3,015
	325,280		Allstate Corp		23,150
	34,048	*	AMBAC Financial Group, Inc		824
	56,412		American Equity Investment Life Holding Co		1,643
	53,198		American Financial Group, Inc		3,413
	1,030,935		American International Group, Inc		56,485
	5,469		American National Insurance Co		538
	13,065		Amerisafe, Inc		604
	23,097	e	Amtrust Financial Services, Inc		1,316
	210,309		Aon plc		20,215
	101,165	*	Arch Capital Group Ltd		6,232
	22,861		Argo Group International Holdings Ltd		1,147
	118,906		Arthur J. Gallagher & Co		5,559
	50,374		Aspen Insurance Holdings Ltd		2,379
	53,724		Assurant, Inc		3,299
	129,363		Assured Guaranty Ltd		3,414
	8,461	*,e	Atlas Financial Holdings, Inc		150
	84,687		Axis Capital Holdings Ltd		4,368
	6,904		Baldwin & Lyons, Inc (Class B)		162
	1,371,733	*	Berkshire Hathaway, Inc (Class B)		197,969
	91,363		Brown & Brown, Inc		3,025
	173,041		Chubb Corp		17,494
	124,217		Cincinnati Financial Corp		6,618
	32,879	*,e	Citizens, Inc (Class A)		203
	19,762		CNA Financial Corp		819
	164,574		Conseco, Inc		2,834
	19,001		Crawford & Co (Class B)		164
	7,812		Donegal Group, Inc (Class A)		123
	4,503		EMC Insurance Group, Inc		152
	24,104		Employers Holdings, Inc		651
	33,679	e	Endurance Specialty Holdings Ltd		2,059
	7,068	*	Enstar Group Ltd		1,003
	20,774		Erie Indemnity Co (Class A)		1,813
	34,974		Everest Re Group Ltd		6,085
	9,829		FBL Financial Group, Inc (Class A)		610
	8,326		Federated National Holding Co		255
	8,299		Fidelity & Guaranty Life		176
	80,939		First American Financial Corp		2,888
	209,065		FNF Group		7,685
	375,048	*	Genworth Financial, Inc (Class A)		2,742
	20,683	*	Greenlight Capital Re Ltd (Class A)		658
	7,438	*	Hallmark Financial Services		79
	33,724		Hanover Insurance Group, Inc		2,448
	318,867		Hartford Financial Services Group, Inc		13,335
	75,001		HCC Insurance Holdings, Inc		4,250
	6,789		HCI Group, Inc		311
	5,489	*	Heritage Insurance Holdings, Inc		121
	29,235		Horace Mann Educators Corp		1,000
	5,951		Independence Holding Co		81
	10,249		Infinity Property & Casualty Corp		841

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	2,854		Kansas City Life Insurance Co	$	131
	37,633		Kemper Corp		1,466
	197,663		Lincoln National Corp		11,358
	234,894		Loews Corp		9,591
	34,934		Maiden Holdings Ltd		518
	10,434	*	Markel Corp		8,023
	411,993		Marsh & McLennan Cos, Inc		23,109
	108,070	*	MBIA, Inc		1,005
	42,189		Meadowbrook Insurance Group, Inc		359
	20,342		Mercury General Corp		1,175
	696,541		Metlife, Inc		35,210
	34,784		Montpelier Re Holdings Ltd		1,337
	27,288		National General Holdings Corp		510
	7,244		National Interstate Corp		203
	1,551		National Western Life Insurance Co (Class A)		394
	8,338	*	Navigators Group, Inc		649
	195,723		Old Republic International Corp		2,924
	17,609		OneBeacon Insurance Group Ltd (Class A)		268
	38,267		PartnerRe Ltd		4,375
	4,932	*	Phoenix Cos, Inc		247
	43,301		Primerica, Inc		2,204
	220,518		Principal Financial Group		11,328
	42,876		ProAssurance Corp		1,968
	440,191		Progressive Corp		11,973
	345,320		Prudential Financial, Inc		27,733
	51,072		Reinsurance Group of America, Inc (Class A)		4,759
	36,713		RenaissanceRe Holdings Ltd		3,661
	32,282		RLI Corp		1,692
	10,041		Safety Insurance Group, Inc		600
	42,211		Selective Insurance Group, Inc		1,226
	33,695		Stancorp Financial Group, Inc		2,312
	9,480		State Auto Financial Corp		230
	16,046		Stewart Information Services Corp		652
	56,908		Symetra Financial Corp		1,335
	42,743	*	Third Point Reinsurance Ltd		605
	99,838		Torchmark Corp		5,483
	238,765		Travelers Cos, Inc		25,818
	6,929	*	United America Indemnity Ltd		192
	16,961		United Fire & Casualty Co		539
	12,682		United Insurance Holdings Corp		285
	22,242		Universal Insurance Holdings, Inc		569
	191,926		UnumProvident Corp		6,474
	68,796		Validus Holdings Ltd		2,896
	73,795		W.R. Berkley Corp		3,727
	4,646		White Mountains Insurance Group Ltd		3,180
	202,629		XL Capital Ltd		7,457
			TOTAL INSURANCE		704,046
MATERIALS - 3.6%
	22,177		A. Schulman, Inc		1,069
	3,376	*	AEP Industries, Inc		186
	159,719		Air Products & Chemicals, Inc		24,162

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	56,289		Airgas, Inc	$	5,973
	132,725	*,e	AK Steel Holding Corp		593
	86,554		Albemarle Corp		4,574
	887,161		Alcoa, Inc		11,462
	81,466		Allegheny Technologies, Inc		2,445
	20,501	e	American Vanguard Corp		218
	7,032		Ampco-Pittsburgh Corp		123
	49,070		Aptargroup, Inc		3,117
	51,841		Ashland, Inc		6,600
	75,563		Avery Dennison Corp		3,998
	55,576	*	Axalta Coating Systems Ltd		1,535
	52,910		Axiall Corp		2,484
	23,190		Balchem Corp		1,284
	105,468		Ball Corp		7,450
	75,889		Bemis Co, Inc		3,514
	67,435	*	Berry Plastics Group, Inc		2,440
	29,817	*	Boise Cascade Co		1,117
	14,781		Brush Engineered Materials, Inc		568
	48,545		Cabot Corp		2,185
	41,280		Calgon Carbon Corp		870
	38,318		Carpenter Technology Corp		1,490
	11,808	*,e	Castle (A.M.) & Co		43
	117,317		Celanese Corp (Series A)		6,553
	39,702	*,e	Century Aluminum Co		548
	35,930		CF Industries Holdings, Inc		10,193
	5,158		Chase Corp		226
	73,547	*	Chemtura		2,007
	15,540	*	Clearwater Paper Corp		1,015
	66,499	e	Cliffs Natural Resources, Inc		320
	77,643	*,e	Coeur d’Alene Mines Corp		366
	89,141		Commercial Metals Co		1,443
	25,270		Compass Minerals International, Inc		2,355
	105,024	*	Crown Holdings, Inc		5,673
	55,532		Cytec Industries, Inc		3,001
	9,014		Deltic Timber Corp		597
	48,674		Domtar Corp		2,250
	902,382		Dow Chemical Co		43,296
	688,273		Du Pont (E.I.) de Nemours & Co		49,191
	37,135		Eagle Materials, Inc		3,103
	113,228		Eastman Chemical Co		7,842
	199,792		Ecolab, Inc		22,852
	55,318	*	Ferro Corp		694
	40,724	*,e	Flotek Industries, Inc		600
	100,339		FMC Corp		5,744
	778,444		Freeport-McMoRan Copper & Gold, Inc (Class B)		14,752
	14,460		FutureFuel Corp		149
	32,454		Glatfelter		893
	47,286		Globe Specialty Metals, Inc		895
	24,960	*,e	Gold Resource Corp		80
	205,071		Graphic Packaging Holding Co		2,982
	24,459		Greif, Inc (Class A)		961
	39,075		H.B. Fuller Co		1,675

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	6,809		Hawkins, Inc	$	259
	9,402		Haynes International, Inc		419
	54,162	*	Headwaters, Inc		993
	262,218	e	Hecla Mining Co		781
	33,599	*,e	Horsehead Holding Corp		425
	152,705		Huntsman Corp		3,385
	16,427		Innophos Holdings, Inc		926
	18,027		Innospec, Inc		836
	62,007		International Flavors & Fragrances, Inc		7,280
	325,803		International Paper Co		18,079
	40,015	*,e	Intrepid Potash, Inc		462
	14,023		Kaiser Aluminum Corp		1,078
	62,146		Kapstone Paper and Packaging Corp		2,041
	4,800		KMG Chemicals, Inc		128
	16,539		Koppers Holdings, Inc		325
	24,388	*	Kraton Polymers LLC		493
	14,288		Kronos Worldwide, Inc		181
	104,108	*	Louisiana-Pacific Corp		1,719
	13,887	*	LSB Industries, Inc		574
	311,087		LyondellBasell Industries AF S.C.A		27,313
	8,861	*,e	Marrone Bio Innovations, Inc		34
	46,995		Martin Marietta Materials, Inc		6,570
	127,312		MeadWestvaco Corp		6,349
	27,178		Minerals Technologies, Inc		1,987
	364,964		Monsanto Co		41,073
	237,005		Mosaic Co		10,916
	23,791		Myers Industries, Inc		417
	11,726		Neenah Paper, Inc		733
	6,792		NewMarket Corp		3,245
	373,040		Newmont Mining Corp		8,099
	29,589		Noranda Aluminium Holding Corp		88
	240,123		Nucor Corp		11,413
	61,075	e	Olin Corp		1,957
	8,985		Olympic Steel, Inc		121
	23,303		OM Group, Inc		700
	32,453	*	Omnova Solutions, Inc		277
	126,112	*	Owens-Illinois, Inc		2,941
	74,848		Packaging Corp of America		5,852
	64,376	*	Platform Specialty Products Corp		1,652
	73,826		PolyOne Corp		2,757
	103,793		PPG Industries, Inc		23,409
	219,455		Praxair, Inc		26,497
	9,804		Quaker Chemical Corp		840
	31,957	e	Rayonier Advanced Materials, Inc		476
	58,316		Reliance Steel & Aluminum Co		3,562
	201,095	*	Rentech, Inc		225
	49,260	*	Resolute Forest Products		850
	108,746		Rock-Tenn Co (Class A)		7,014
	48,654		Royal Gold, Inc		3,071
	101,323		RPM International, Inc		4,862
	23,200	*	RTI International Metals, Inc		833
	8,418	*,e	Ryerson Holding Corp		54

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	19,399	e	Schnitzer Steel Industries, Inc (Class A)	$	308
	23,952		Schweitzer-Mauduit International, Inc		1,105
	34,069		Scotts Miracle-Gro Co (Class A)		2,288
	163,420		Sealed Air Corp		7,445
	31,811	*,e	Senomyx, Inc		140
	38,347		Sensient Technologies Corp		2,641
	64,531		Sherwin-Williams Co		18,359
	89,567		Sigma-Aldrich Corp		12,383
	33,477		Silgan Holdings, Inc		1,946
	76,188		Sonoco Products Co		3,464
	110,590	e	Southern Copper Corp (NY)		3,227
	165,973		Steel Dynamics, Inc		3,336
	13,671		Stepan Co		570
	90,832	*	Stillwater Mining Co		1,174
	52,835		SunCoke Energy, Inc		789
	64,203		Tahoe Resources, Inc		704
	30,889		TimkenSteel Corp		818
	15,246	*	Trecora Resources		186
	19,671		Tredegar Corp		396
	8,747	*,e	Trinseo S.A.		173
	44,328		Tronox Ltd		901
	4,092	*	UFP Technologies, Inc		93
	1,357		United States Lime & Minerals, Inc		88
	110,404	e	United States Steel Corp		2,694
	4,623	*	Universal Stainless & Alloy		121
	10,188	*	US Concrete, Inc		345
	63,837		Valspar Corp		5,364
	98,368		Vulcan Materials Co		8,292
	37,679		Wausau Paper Corp		359
	31,064		Westlake Chemical Corp		2,235
	40,133	*	Worthington Industries, Inc		1,068
	57,560	*	WR Grace & Co		5,691
	17,018		Zep, Inc		290
			TOTAL MATERIALS		617,320
MEDIA - 3.5%
	12,963		AH Belo Corp (Class A)		107
	16,000		AMC Entertainment Holdings, Inc		568
	45,765	*	AMC Networks, Inc		3,507
	147,096	e	Cablevision Systems Corp (Class A)		2,692
	17,686	*	Carmike Cinemas, Inc		594
	373,005		CBS Corp (Class B)		22,615
	57,360	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		153
	60,064	*	Charter Communications, Inc		11,599
	56,587	*	Cinedigm Corp		92
	87,874		Cinemark Holdings, Inc		3,960
	28,047		Clear Channel Outdoor Holdings, Inc (Class A)		284
	1,941,429		Comcast Corp (Class A)		109,633
	27,056	*	Crown Media Holdings, Inc (Class A)		108
	101,938	*	Cumulus Media, Inc (Class A)		252
	772	*,e	Daily Journal Corp		141
	12,681	*,e	Dex Media, Inc		53

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	351,129	*	DIRECTV	$	29,881
	173,884	*,e	Discovery Communications, Inc (Class A)		5,349
	173,884	*	Discovery Communications, Inc (Class C)		5,125
	159,417	*	DISH Network Corp (Class A)		11,169
	57,581	*,e	DreamWorks Animation SKG, Inc (Class A)		1,393
	18,269	*	Entercom Communications Corp (Class A)		222
	54,182		Entravision Communications Corp (Class A)		343
	14,854	*	Eros International plc		259
	23,436	*	EW Scripps Co (Class A)		666
	172,059		Gannett Co, Inc		6,380
	28,415	*,e	Global Eagle Entertainment, Inc		378
	38,349	*	Gray Television, Inc		530
	33,505		Harte-Hanks, Inc		261
	6,780	*,e	Hemisphere Media Group, Inc		86
	320,956		Interpublic Group of Cos, Inc		7,100
	33,375		John Wiley & Sons, Inc (Class A)		2,041
	42,642	*	Journal Communications, Inc (Class A)		632
	39,207	*,e	Lee Enterprises, Inc		124
	17,372	*	Liberty Broadband Corp (Class A)		981
	46,565	*	Liberty Broadband Corp (Class C)		2,636
	69,489	*	Liberty Media Corp		2,679
	143,632	*	Liberty Media Corp (Class C)		5,487
	64,240	e	Lions Gate Entertainment Corp		2,179
	108,249	*	Live Nation, Inc		2,731
	9,932	*	Loral Space & Communications, Inc		680
	46,379	*	Madison Square Garden, Inc		3,926
	29,313	*	Martha Stewart Living Omnimedia, Inc (Class A)		191
	45,516	*	McClatchy Co (Class A)		84
	32,196		MDC Partners, Inc		913
	37,793	*	Media General, Inc		623
	26,535		Meredith Corp		1,480
	14,733		Morningstar, Inc		1,104
	46,358		National CineMedia, Inc		700
	22,523		New Media Investment Group, Inc		539
	98,100		New York Times Co (Class A)		1,350
	377,718	*	News Corp		6,047
	23,355		Nexstar Broadcasting Group, Inc (Class A)		1,336
	192,947		Omnicom Group, Inc		15,046
	17,261	*,e	Radio One, Inc		53
	7,422	*,e	ReachLocal, Inc		22
	12,373	*	Reading International, Inc		166
	60,087	e	Regal Entertainment Group (Class A)		1,372
	7,217	*,e	Rentrak Corp		401
	3,654		Saga Communications, Inc		163
	8,940		Salem Communications		55
	19,984		Scholastic Corp		818
	80,102		Scripps Networks Interactive (Class A)		5,492
	53,558	*,e	SFX Entertainment, Inc		219
	51,060	e	Sinclair Broadcast Group, Inc (Class A)		1,604
	1,946,806	*	Sirius XM Holdings, Inc		7,437
	20,194	*	Sizmek, Inc		147
	69,001	*	Starz-Liberty Capital		2,374

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	266,209		Thomson Corp	$	10,797
	209,139		Time Warner Cable, Inc		31,346
	625,144		Time Warner, Inc		52,787
	84,151		Time, Inc		1,888
	1,426,357		Twenty-First Century Fox, Inc		48,268
	304,392		Viacom, Inc (Class B)		20,790
	1,297,983		Walt Disney Co		136,145
	21,644	e	World Wrestling Entertainment, Inc (Class A)		303
			TOTAL MEDIA		601,656
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 9.3%
	1,191,665		AbbVie, Inc		69,760
	58,718	*,e	Acadia Pharmaceuticals, Inc		1,914
	16,937	*,e	Accelerate Diagnostics, Inc		381
	12,289	*,e	Acceleron Pharma, Inc		468
	15,957	*,e	AcelRx Pharmaceuticals, Inc		62
	5,364	*	Achaogen, Inc		52
	73,137	*,e	Achillion Pharmaceuticals, Inc		721
	31,389	*	Acorda Therapeutics, Inc		1,045
	272,150	*	Actavis plc		80,997
	15,055	*,e	Actinium Pharmaceuticals, Inc		37
	21,882	*,e	Aegerion Pharmaceuticals, Inc		573
	5,900	*	Aerie Pharmaceuticals, Inc		185
	56,476	*,e	Affymetrix, Inc		709
	48,575	*,e	Agenus, Inc		249
	250,777		Agilent Technologies, Inc		10,420
	10,132	*,e	Agios Pharmaceuticals, Inc		955
	6,056	*,e	Akebia Therapeutics, Inc		67
	47,337	*	Akorn, Inc		2,249
	17,375	*,e	Albany Molecular Research, Inc		306
	6,292	*	Alder Biopharmaceuticals, Inc		182
	148,857	*	Alexion Pharmaceuticals, Inc		25,797
	27,483	*,e	Alimera Sciences, Inc		138
	109,475	*	Alkermes plc		6,675
	50,442	*	Alnylam Pharmaceuticals, Inc		5,267
	16,434	*,e	AMAG Pharmaceuticals, Inc		898
	567,380		Amgen, Inc		90,696
	30,986	*,e	Ampio Pharmaceuticals, Inc		233
	25,259	*	Anacor Pharmaceuticals, Inc		1,461
	5,005	*,e	ANI Pharmaceuticals, Inc		313
	3,704	*	Applied Genetic Technologies Corp		74
	18,952	*	Aratana Therapeutics, Inc		303
	165,796	*,e	Arena Pharmaceuticals, Inc		725
	121,910	*,e	Ariad Pharmaceuticals, Inc		1,005
	91,342	*,e	Array Biopharma, Inc		673
	39,456	*,e	Arrowhead Research Corp		267
	6,200	*	Auspex Pharmaceuticals Inc		622
	5,237	*	Avalanche Biotechnologies, Inc		212
	53,741	*,e	BioCryst Pharmaceuticals, Inc		485
	28,320	*,e	BioDelivery Sciences International, Inc		297
	177,778	*	Biogen Idec, Inc		75,065
	118,909	*	BioMarin Pharmaceuticals, Inc		14,818

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	56,961	*,e	Bio-Path Holdings, Inc	$	103
	15,517	*	Bio-Rad Laboratories, Inc (Class A)		2,098
	2,967	*	Biospecifics Technologies Corp		116
	28,521		Bio-Techne Corp		2,860
	27,248	*,e	BioTime, Inc		135
	16,325	*	Bluebird Bio, Inc		1,972
	1,243,991		Bristol-Myers Squibb Co		80,237
	83,145	*	Bruker BioSciences Corp		1,536
	11,074	*,e	Calithera Biosciences, Inc		182
	26,827	*	Cambrex Corp		1,063
	4,100	*,e	Cara Therapeutics Inc		41
	37,417	*	Catalent, Inc		1,166
	601,169	*	Celgene Corp		69,303
	67,311	*,e	Celldex Therapeutics, Inc		1,876
	7,200	*,e	Cellular Dynamics International, Inc		118
	16,803	*	Cempra, Inc		577
	52,661	*	Cepheid, Inc		2,996
	37,085	*	Charles River Laboratories International, Inc		2,940
	18,304	*,e	ChemoCentryx, Inc		138
	20,217	*,e	Chimerix, Inc		762
	18,781	*,e	Clovis Oncology, Inc		1,394
	56,916	*,e	Corcept Therapeutics, Inc		319
	95,801	*,e	CTI BioPharma Corp		173
	9,632	*	Cytokinetics, Inc		65
	47,980	*,e	Cytori Therapeutics, Inc		57
	41,833	*,e	CytRx Corp		141
	40,825	*,e	Depomed, Inc		915
	2,700	*,e	Dicerna Pharmaceuticals Inc		65
	102,195	*	Dyax Corp		1,712
	19,927	*,e	Dynavax Technologies Corp		447
	3,500	*,e	Eleven Biotheraputics Inc		31
	738,520		Eli Lilly & Co		53,654
	19,838	*	Emergent Biosolutions, Inc		571
	7,962	*,e	Enanta Pharmaceuticals, Inc		244
	127,975	*	Endo International plc		11,479
	33,769	*,e	Endocyte, Inc		211
	26,506	*	Enzo Biochem, Inc		78
	9,923	*,e	Epizyme, Inc		186
	6,700	*,e	Esperion Thereapeutics, Inc		620
	62,597	*,e	Exact Sciences Corp		1,378
	212,117	*,e	Exelixis, Inc		545
	12,553	*	Five Prime Therapeutics, Inc		287
	6,400	*	Flexion Therapeutics Inc		144
	20,851	*,e	Fluidigm Corp		878
	10,758	*,e	Foundation Medicine, Inc		518
	13,945	*,e	Galectin Therapeutics, Inc		47
	102,537	*,e	Galena Biopharma, Inc		143
	3,000	*,e	Genocea Biosciences Inc		36
	11,223	*,e	Genomic Health, Inc		343
	114,325	*,e	Geron Corp		431

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	1,150,941	*	Gilead Sciences, Inc	$	112,942
	79,065	*,e	Halozyme Therapeutics, Inc		1,129
	14,185	*	Heron Therapeutics, Inc		206
	48,486	*	Horizon Pharma plc		1,259
	126,136	*	Hospira, Inc		11,080
	10,443	*	Hyperion Therapeutics, Inc		479
	43,621	*,e	Idera Pharmaceuticals, Inc		162
	22,871	*,e	IGI Laboratories, Inc		187
	104,481	*	Illumina, Inc		19,396
	65,469	*,e	Immunogen, Inc		586
	78,549	*,e	Immunomedics, Inc		301
	52,266	*	Impax Laboratories, Inc		2,450
	108,932	*	Incyte Corp		9,985
	36,466	*	Infinity Pharmaceuticals, Inc		510
	46,169	*,e	Inovio Pharmaceuticals, Inc		377
	27,309	*	Insmed, Inc		568
	7,379	*,e	Insys Therapeutics, Inc		429
	9,369	*,e	Intercept Pharmaceuticals, Inc		2,642
	12,959	*	Intra-Cellular Therapies, Inc		309
	27,301	*,e	Intrexon Corp		1,239
	90,684	*	Ironwood Pharmaceuticals, Inc		1,451
	89,084	*,e	Isis Pharmaceuticals, Inc		5,672
	44,639	*	Jazz Pharmaceuticals plc		7,713
	2,120,376		Johnson & Johnson		213,310
	9,553	*,e	Karyopharm Therapeutics, Inc		292
	68,602	*,e	Keryx Biopharmaceuticals, Inc		873
	6,600	*,e	Kindred Biosciences Inc		47
	6,601	*,e	Kite Pharma, Inc		381
	13,125	*,e	KYTHERA Biopharmaceuticals, Inc		658
	19,506	*	Lannett Co, Inc		1,321
	173,586	*,e	Lexicon Pharmaceuticals, Inc		164
	15,744	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,214
	15,493	*,e	Loxo Oncology, Inc		193
	31,134	*	Luminex Corp		498
	15,274	*	MacroGenics, Inc		479
	86,126	*	Mallinckrodt plc		10,908
	172,437	*,e	MannKind Corp		897
	48,124	*	Medicines Co		1,348
	57,923	*	Medivation, Inc		7,476
	2,190,261		Merck & Co, Inc		125,896
	73,750	*,e	Merrimack Pharmaceuticals, Inc		876
	21,663	*	Mettler-Toledo International, Inc		7,120
	69,816	*,e	MiMedx Group, Inc		726
	5,698	*,e	Mirati Therapeutics, Inc		167
	34,069	*	Momenta Pharmaceuticals, Inc		518
	280,541	*	Mylan NV		16,650
	56,889	*,e	Myriad Genetics, Inc		2,014
	7,890	*	NanoString Technologies, Inc		80
	28,763	*,e	NanoViricides, Inc		65
	97,156	*,e	Navidea Biopharmceuticals, Inc		155
	96,260	*,e	Nektar Therapeutics		1,059
	17,230	*,e	NeoStem, Inc		44

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	53,365	*,e	Neuralstem, Inc	$	101
	57,584	*	Neurocrine Biosciences, Inc		2,287
	14,869	*,e	NewLink Genetics Corp		814
	27,407	*,e	Northwest Biotherapeutics, Inc		202
	160,650	*,e	Novavax, Inc		1,329
	14,893	*,e	Ohr Pharmaceutical, Inc		38
	26,874	*,e	Omeros Corp		592
	9,299	*,e	OncoMed Pharmaceuticals, Inc		240
	51,753	*	Oncothyreon, Inc		84
	10,319	*	Ophthotech Corp		480
	143,885	*,e	Opko Health, Inc		2,039
	88,413	*,e	Orexigen Therapeutics, Inc		692
	47,632	*,e	Organovo Holdings, Inc		169
	12,630	*,e	Osiris Therapeutics, Inc		222
	5,464	*	Otonomy, Inc		193
	11,569	*,e	OvaScience, Inc		402
	50,411	*	Pacific Biosciences of California, Inc		294
	27,071	*,e	Pacira Pharmaceuticals, Inc		2,405
	29,042	*,e	Pain Therapeutics, Inc		55
	43,666	*	Parexel International Corp		3,013
	111,677	e	PDL BioPharma, Inc		786
	217,309	*,e	Peregrine Pharmaceuticals, Inc		293
	85,256	*	PerkinElmer, Inc		4,360
	24,465	*,e	Pernix Therapeutics Holdings, Inc		262
	105,542		Perrigo Co plc		17,473
	4,780,678		Pfizer, Inc		166,320
	46,171	*	Pharmacyclics, Inc		11,817
	10,957		Phibro Animal Health Corp		388
	28,026	*	Portola Pharmaceuticals, Inc		1,064
	15,548		Pozen, Inc		120
	38,233	*	Prestige Brands Holdings, Inc		1,640
	51,583	*	Progenics Pharmaceuticals, Inc		308
	16,389	*	Prothena Corp plc		625
	16,950	*,e	PTC Therapeutics, Inc		1,031
	17,347	*,e	Puma Biotechnology, Inc		4,096
	178,940	*	Qiagen NV (NASDAQ)		4,509
	42,973	*	Quintiles Transnational Holdings, Inc		2,878
	48,221	*,e	Raptor Pharmaceutical Corp		524
	13,895	*	Receptos, Inc		2,291
	11,646	*,e	Regado Biosciences, Inc		14
	59,505	*	Regeneron Pharmaceuticals, Inc		26,865
	7,041	*	Regulus Therapeutics, Inc		119
	12,549	*	Relypsa, Inc		453
	23,464	*	Repligen Corp		712
	27,458	*,e	Repros Therapeutics, Inc		236
	14,500	*	Retrophin, Inc		347
	5,300	*,e	Revance Therapeutics, Inc		110
	66,996	*	Rigel Pharmaceuticals, Inc		239
	16,776	*	Sagent Pharmaceuticals		390
	48,057	*,e	Salix Pharmaceuticals Ltd		8,305
	54,946	*	Sangamo Biosciences, Inc		862

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	31,888	*,e	Sarepta Therapeutics, Inc	$	423
	43,039	*	Sciclone Pharmaceuticals, Inc		381
	76,360	*,e	Seattle Genetics, Inc		2,699
	87,069	*,e	Sequenom, Inc		344
	47,540	*,e	Spectrum Pharmaceuticals, Inc		289
	12,168	*,e	Stemline Therapeutics, Inc		176
	6,322	*,e	Sucampo Pharmaceuticals, Inc (Class A)		98
	37,533	*,e	Sunesis Pharmaceuticals, Inc		92
	21,873	*	Supernus Pharmaceuticals, Inc		264
	16,285	*,e	Synageva BioPharma Corp		1,588
	95,564	*,e	Synergy Pharmaceuticals, Inc		442
	52,113	*,e	Synta Pharmaceuticals Corp		101
	13,518	*,e	T2 Biosystems, Inc		210
	14,763	*,e	TESARO, Inc		847
	16,779	*	Tetraphase Pharmaceuticals, Inc		615
	13,436	*,e	TG Therapeutics, Inc		208
	78,332	*,e	TherapeuticsMD, Inc		474
	17,111	*,e	Theravance Biopharma, Inc		297
	61,047	e	Theravance, Inc		960
	301,420		Thermo Electron Corp		40,493
	65,850	*,e	Threshold Pharmaceuticals, Inc		267
	20,013	*,e	Tokai Pharmaceuticals, Inc		226
	5,100	*	Ultragenyx Pharmaceutical, Inc		317
	36,410	*	United Therapeutics Corp		6,278
	23,698	*,e	Vanda Pharmaceuticals, Inc		220
	10,567	*,e	Verastem, Inc		107
	5,257	*,e	Versartis, Inc		97
	178,617	*	Vertex Pharmaceuticals, Inc		21,071
	10,155	*,e	Vitae Pharmaceuticals, Inc		119
	4,085	*,e	Vital Therapies, Inc		102
	74,791	*,e	Vivus, Inc		184
	23,662	*,e	VWR Corp		615
	64,149	*	Waters Corp		7,975
	11,200	*	Xencor Inc		172
	33,276	*	Xenoport, Inc		237
	64,947	*,e	XOMA Corp		236
	15,467	*,e	Zafgen, Inc		613
	78,272	*,e	ZIOPHARM Oncology, Inc		843
	377,986		Zoetis Inc		17,497
	74,879	*,e	Zogenix, Inc		103
	4,180	*,e	ZS Pharma, Inc		176
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,604,732
REAL ESTATE - 4.0%
	41,676		Acadia Realty Trust		1,454
	21,134		AG Mortgage Investment Trust		398
	10,360		Agree Realty Corp		342
	36,954		Alexander & Baldwin, Inc		1,596
	1,574		Alexander’s, Inc		719
	54,028		Alexandria Real Estate Equities, Inc		5,297
	945	*,e	Altisource Asset Management Corp		175
	11,088	*,e	Altisource Portfolio Solutions S.A.		143

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	42,959		Altisource Residential Corp	$	896
	27,018		American Assets Trust,Inc		1,169
	79,779		American Campus Communities, Inc		3,420
	267,932		American Capital Agency Corp		5,715
	44,879		American Capital Mortgage, Inc		806
	112,117		American Homes 4 Rent		1,856
	585,838	*	American Realty Capital Properties, Inc		5,771
	24,165	*	American Residential Properties, Inc		435
	316,840		American Tower Corp		29,831
	719,885		Annaly Capital Management, Inc		7,487
	104,198		Anworth Mortgage Asset Corp		530
	110,902		Apartment Investment & Management Co (Class A)		4,365
	34,740		Apollo Commercial Real Estate Finance, Inc		597
	22,112		Ares Commercial Real Estate Corp		244
	14,151		Armada Hoffler Properties, Inc		151
	298,636	*	ARMOUR Residential REIT, Inc		947
	18,244		Ashford Hospitality Prime, Inc		306
	52,924		Ashford Hospitality Trust, Inc		509
	43,899		Associated Estates Realty Corp		1,083
	7,072	*	AV Homes, Inc		113
	97,504		AvalonBay Communities, Inc		16,990
	14,753		Aviv REIT, Inc		539
	146,174		BioMed Realty Trust, Inc		3,312
	115,541		Boston Properties, Inc		16,231
	118,676		Brandywine Realty Trust		1,896
	36,900		Brixmor Property Group, Inc		980
	64,335		Camden Property Trust		5,027
	49,200		Campus Crest Communities, Inc		352
	77,031	e	Capstead Mortgage Corp		907
	19,988		CareTrust REIT, Inc		271
	14,285		CatchMark Timber Trust Inc		167
	124,137		CBL & Associates Properties, Inc		2,458
	212,369	*	CBRE Group, Inc		8,221
	54,349		Cedar Shopping Centers, Inc		407
	189,048		Chambers Street Properties		1,490
	19,647		Chatham Lodging Trust		578
	37,072		Chesapeake Lodging Trust		1,254
	782,428		Chimera Investment Corp		2,457
	70,359	e	Colony Financial, Inc		1,824
	94,538		Columbia Property Trust, Inc		2,554
	4,977		Consolidated-Tomoka Land Co		297
	23,678		CorEnergy Infrastructure Trust, Inc		164
	15,000		Coresite Realty		730
	65,862		Corporate Office Properties Trust		1,935
	149,941		Cousins Properties, Inc		1,589
	251,437		Crown Castle International Corp		20,754
	109,361		CubeSmart		2,641
	24,661		CyrusOne, Inc		767
	127,278		CYS Investments, Inc		1,134
	62,436		DCT Industrial Trust, Inc		2,164
	225,998		DDR Corp		4,208
	148,119		DiamondRock Hospitality Co		2,093

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	102,419		Digital Realty Trust, Inc	$	6,756
	108,380		Douglas Emmett, Inc		3,231
	249,388		Duke Realty Corp		5,429
	47,457		DuPont Fabros Technology, Inc		1,551
	41,887		Dynex Capital, Inc		355
	23,492		EastGroup Properties, Inc		1,413
	34,875		Education Realty Trust, Inc		1,234
	69,842		Empire State Realty Trust, Inc		1,314
	40,575		Entertainment Properties Trust		2,436
	90,303	*	Equity Commonwealth		2,398
	62,982		Equity Lifestyle Properties, Inc		3,461
	45,769		Equity One, Inc		1,222
	271,699		Equity Residential		21,154
	47,098		Essex Property Trust, Inc		10,828
	35,324		Excel Trust, Inc		495
	87,918		Extra Space Storage, Inc		5,941
	50,112		Federal Realty Investment Trust		7,377
	96,717		FelCor Lodging Trust, Inc		1,111
	82,257		First Industrial Realty Trust, Inc		1,763
	39,859		First Potomac Realty Trust		474
	120,106	*	Forest City Enterprises, Inc (Class A)		3,065
	29,389	*	Forestar Real Estate Group, Inc		463
	67,229		Franklin Street Properties Corp		862
	4,942	*	FRP Holdings, Inc		180
	67,409		Gaming and Leisure Properties, Inc		2,485
	424,625		General Growth Properties, Inc		12,548
	54,016		Geo Group, Inc		2,363
	18,098		Getty Realty Corp		329
	9,649		Gladstone Commercial Corp		180
	40,458	e	Government Properties Income Trust		924
	22,003	e	Gramercy Property Trust, Inc		618
	16,110		Hannon Armstrong Sustainable Infrastructure Capital, Inc		295
	78,328		Hatteras Financial Corp		1,422
	346,529		HCP, Inc		14,974
	261,446		Health Care REIT, Inc		20,225
	72,939		Healthcare Realty Trust, Inc		2,026
	89,538		Healthcare Trust of America, Inc		2,495
	153,508		Hersha Hospitality Trust		993
	68,398		Highwoods Properties, Inc		3,131
	43,293		Home Properties, Inc		3,000
	113,430		Hospitality Properties Trust		3,742
	573,634		Host Marriott Corp		11,576
	30,234	*	Howard Hughes Corp		4,687
	41,377		Hudson Pacific Properties		1,373
	64,150		Inland Real Estate Corp		686
	93,191		Invesco Mortgage Capital, Inc		1,447
	80,864		Investors Real Estate Trust		606
	138,662	e	Iron Mountain, Inc		5,058
	64,505	*	iStar Financial, Inc		839
	33,460		Jones Lang LaSalle, Inc		5,702
	53,389	e	Kennedy-Wilson Holdings, Inc		1,396
	62,016		Kilroy Realty Corp		4,724

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	312,567		Kimco Realty Corp	$	8,392
	24,893		Kite Realty Group Trust		701
	59,903		Lamar Advertising Co		3,550
	79,268		LaSalle Hotel Properties		3,080
	156,139	e	Lexington Corporate Properties Trust		1,535
	112,029		Liberty Property Trust		3,999
	27,155		LTC Properties, Inc		1,249
	118,240		Macerich Co		9,971
	67,066		Mack-Cali Realty Corp		1,293
	6,167	*	Marcus & Millichap, Inc		231
	130,332		Medical Properties Trust, Inc		1,921
	277,088		MFA Mortgage Investments, Inc		2,178
	56,685		Mid-America Apartment Communities, Inc		4,380
	41,601		Monmouth Real Estate Investment Corp (Class A)		462
	25,162		National Health Investors, Inc		1,787
	94,203		National Retail Properties, Inc		3,860
	108,346	e	New Residential Investment Corp		1,628
	69,636	e	New York Mortgage Trust, Inc		540
	58,364	*	New York REIT, Inc		612
	162,367	e	NorthStar Realty Finance Corp		2,942
	95,375	e	Omega Healthcare Investors, Inc		3,869
	9,027		One Liberty Properties, Inc		220
	110,397		Outfront Media, Inc		3,303
	8,338		Owens Realty Mortgage, Inc		125
	131,030		Paramount Group, Inc		2,529
	54,080		Parkway Properties, Inc		938
	48,419		Pebblebrook Hotel Trust		2,255
	52,388		Pennsylvania REIT		1,217
	57,080		Pennymac Mortgage Investment Trust		1,215
	35,364		Physicians Realty Trust		623
	116,280		Piedmont Office Realty Trust, Inc		2,164
	133,412		Plum Creek Timber Co, Inc		5,797
	39,530		Post Properties, Inc		2,250
	28,544		Potlatch Corp		1,143
	377,624		Prologis, Inc		16,449
	14,667		PS Business Parks, Inc		1,218
	108,020		Public Storage, Inc		21,295
	11,900		QTS Realty Trust, Inc		433
	71,652	e	RAIT Investment Trust		492
	57,913		Ramco-Gershenson Properties		1,077
	95,872		Rayonier, Inc		2,585
	9,000		Re/Max Holdings, Inc		299
	110,565	*	Realogy Holdings Corp		5,029
	166,550	e	Realty Income Corp		8,594
	62,979		Redwood Trust, Inc		1,125
	69,743		Regency Centers Corp		4,745
	88,791		Resource Capital Corp		403
	57,074		Retail Opportunities Investment Corp		1,044
	173,060		Retail Properties of America, Inc		2,774
	34,424		Rexford Industrial Realty, Inc		544
	99,184		RLJ Lodging Trust		3,105
	27,910	e	Rouse Properties, Inc		529

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	32,495		Ryman Hospitality Properties	$	1,979
	36,029		Sabra Healthcare REIT, Inc		1,194
	6,582		Saul Centers, Inc		377
	27,823		Select Income REIT		695
	155,150		Senior Housing Properties Trust		3,443
	28,907		Silver Bay Realty Trust Corp		467
	232,830		Simon Property Group, Inc		45,551
	72,320		SL Green Realty Corp		9,284
	23,793		Sovran Self Storage, Inc		2,235
	302,542		Spirit Realty Capital, Inc		3,655
	47,906	*,e	St. Joe Co		889
	39,404		STAG Industrial, Inc		927
	168,526		Starwood Property Trust, Inc		4,095
	29,725	e	Starwood Waypoint Residential Trust		768
	39,430		STORE Capital Corp		921
	186,899	*	Strategic Hotels & Resorts, Inc		2,323
	60,860		Summit Hotel Properties, Inc		856
	31,195		Sun Communities, Inc		2,081
	140,446		Sunstone Hotel Investors, Inc		2,341
	68,504		Tanger Factory Outlet Centers, Inc		2,409
	48,485		Taubman Centers, Inc		3,740
	11,747	*	Tejon Ranch Co		311
	24,859		Terreno Realty Corp		567
	15,107	e	Trade Street Residential, Inc		108
	281,289		Two Harbors Investment Corp		2,987
	190,771		UDR, Inc		6,492
	11,783		UMH Properties, Inc		119
	7,885		Universal Health Realty Income Trust		444
	70,133		Urban Edge Properties		1,662
	14,629		Urstadt Biddle Properties, Inc (Class A)		337
	242,143		Ventas, Inc		17,681
	140,266		Vornado Realty Trust		15,710
	50,804		Washington REIT		1,404
	92,487		Weingarten Realty Investors		3,328
	28,538	e	Western Asset Mortgage Capital Corp		430
	398,235		Weyerhaeuser Co		13,202
	14,061		Whitestone REIT		223
	75,159		WP Carey, Inc		5,111
	139,812		WP GLIMCHER, Inc		2,325
			TOTAL REAL ESTATE		693,473
RETAILING - 4.7%
	14,742	*	1-800-FLOWERS.COM, Inc (Class A)		174
	48,207		Aaron’s, Inc		1,365
	55,095	e	Abercrombie & Fitch Co (Class A)		1,214
	55,059		Advance Auto Parts, Inc		8,242
	74,586	*,e	Aeropostale, Inc		259
	281,569	*	Amazon.com, Inc		104,772
	146,718		American Eagle Outfitters, Inc		2,506
	6,968	*	America’s Car-Mart, Inc		378
	35,675	*	Ann Taylor Stores Corp		1,464
	23,729	*	Asbury Automotive Group, Inc		1,972

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	97,226	*	Ascena Retail Group, Inc	$	1,411
	55,182	*	Autonation, Inc		3,550
	24,521	*	AutoZone, Inc		16,727
	30,948	*	Barnes & Noble, Inc		735
	23,033		Bebe Stores, Inc		84
	139,952	*	Bed Bath & Beyond, Inc		10,745
	215,572		Best Buy Co, Inc		8,146
	14,390		Big 5 Sporting Goods Corp		191
	43,237		Big Lots, Inc		2,077
	6,861	*	Blue Nile, Inc		218
	9,116	e	Bon-Ton Stores, Inc		63
	32,106		Brown Shoe Co, Inc		1,053
	21,122	e	Buckle, Inc		1,079
	8,786	*	Build-A-Bear Workshop, Inc		173
	21,674	*	Burlington Stores, Inc		1,288
	37,763	*,e	Cabela’s, Inc		2,114
	164,826	*	Carmax, Inc		11,375
	21,208		Cato Corp (Class A)		840
	116,119		Chico’s FAS, Inc		2,054
	15,377		Children’s Place Retail Stores, Inc		987
	33,880	*	Christopher & Banks Corp		188
	8,466	*	Citi Trends, Inc		229
	20,933	*,e	Conn’s, Inc		634
	11,400	*,e	Container Store Group, Inc		217
	19,468		Core-Mark Holding Co, Inc		1,252
	57,355		CST Brands, Inc		2,514
	10,433		Destination Maternity Corp		157
	32,976	*	Destination XL Group, Inc		163
	71,755		Dick’s Sporting Goods, Inc		4,089
	19,360		Dillard’s, Inc (Class A)		2,643
	231,160	*	Dollar General Corp		17,425
	154,816	*	Dollar Tree, Inc		12,563
	54,370		DSW, Inc (Class A)		2,005
	29,701	*	EVINE Live, Inc		199
	76,656		Expedia, Inc		7,216
	57,805	*	Express Parent LLC		956
	71,048		Family Dollar Stores, Inc		5,630
	37,259		Finish Line, Inc (Class A)		914
	36,992	*,e	Five Below, Inc		1,316
	110,512		Foot Locker, Inc		6,962
	26,659	*	Francesca’s Holdings Corp		475
	29,664		Fred’s, Inc (Class A)		507
	13,967	*	FTD Cos, Inc		418
	11,720	*	Gaiam, Inc (Class A)		85
	86,754	e	GameStop Corp (Class A)		3,293
	179,579		Gap, Inc		7,781
	17,487	*	Genesco, Inc		1,246
	114,384		Genuine Parts Co		10,659
	69,032		GNC Holdings, Inc		3,387
	18,255		Group 1 Automotive, Inc		1,576
	355,763	*,e	Groupon, Inc		2,565
	44,451		Guess?, Inc		826

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	16,062		Haverty Furniture Cos, Inc	$	400
	12,065	*,e	HHgregg, Inc		74
	18,371	*,e	Hibbett Sports, Inc		901
	1,024,981		Home Depot, Inc		116,448
	25,591		HSN, Inc		1,746
	228,517	*,e	JC Penney Co, Inc		1,922
	8,801	*	Kirkland’s, Inc		209
	156,273		Kohl’s Corp		12,228
	182,518		L Brands, Inc		17,210
	12,586	*,e	Lands’ End, Inc		452
	366,166	*	Liberty Interactive Corp		10,688
	55,902	*	Liberty TripAdvisor Holdings, Inc		1,777
	108,472	*	Liberty Ventures		4,557
	16,930		Lithia Motors, Inc (Class A)		1,683
	225,488	*	LKQ Corp		5,763
	762,814		Lowe’s Companies, Inc		56,746
	19,294	*,e	Lumber Liquidators, Inc		594
	255,481		Macy’s, Inc		16,583
	16,477	*	MarineMax, Inc		437
	10,302	*,e	Mattress Firm Holding Corp		717
	36,113		Men’s Wearhouse, Inc		1,885
	21,100	*	Michaels Cos, Inc		571
	24,581		Monro Muffler, Inc		1,599
	34,348	*	Murphy USA, Inc		2,486
	45,145	*	NetFlix, Inc		18,811
	13,306	*	New York & Co, Inc		33
	103,654		Nordstrom, Inc		8,326
	20,499		Nutri/System, Inc		410
	405,707	*	Office Depot, Inc		3,733
	38,429	*	Orbitz Worldwide, Inc		448
	78,904	*	O’Reilly Automotive, Inc		17,062
	15,915	e	Outerwall, Inc		1,052
	8,893	*,e	Overstock.com, Inc		215
	35,100	*,e	Pacific Sunwear Of California, Inc		97
	31,428		Penske Auto Group, Inc		1,618
	40,957	*	PEP Boys - Manny Moe & Jack		394
	8,150	e	PetMed Express, Inc		135
	72,685	e	Pier 1 Imports, Inc		1,016
	38,656	*	Priceline.com, Inc		45,001
	37,540		Rent-A-Center, Inc		1,030
	23,643	*,e	Restoration Hardware Holdings, Inc		2,345
	159,274		Ross Stores, Inc		16,781
	123,310	*	Sally Beauty Holdings, Inc		4,238
	20,377	*,e	Sears Holdings Corp		843
	9,044	*,e	Sears Hometown and Outlet Stores, Inc		70
	42,473	*	Select Comfort Corp		1,464
	10,447		Shoe Carnival, Inc		308
	29,418	*	Shutterfly, Inc		1,331
	60,439		Signet Jewelers Ltd		8,388
	29,758		Sonic Automotive, Inc (Class A)		741
	7,767	*,e	Sportsman’s Warehouse Holdings, Inc		62
	25,073		Stage Stores, Inc		575

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	481,608		Staples, Inc	$	7,843
	17,973		Stein Mart, Inc		224
	9,938	*	Systemax, Inc		121
	474,716		Target Corp		38,960
	84,264		Tiffany & Co		7,416
	21,071	*,e	Tile Shop Holdings, Inc		255
	6,790	*	Tilly’s, Inc		106
	524,854		TJX Companies, Inc		36,766
	102,934		Tractor Supply Co		8,756
	31,509	e	Travelport Worldwide Ltd		526
	83,948	*	TripAdvisor, Inc		6,982
	32,864	*	Tuesday Morning Corp		529
	48,392	*	Ulta Salon Cosmetics & Fragrance, Inc		7,300
	81,376	*	Urban Outfitters, Inc		3,715
	22,533	*	Vitamin Shoppe, Inc		928
	11,570	*	VOXX International Corp (Class A)		106
	11,292	*	West Marine, Inc		105
	71,021		Williams-Sonoma, Inc		5,661
	1,945		Winmark Corp		170
	10,200	*,e	zulily, Inc		133
	15,828	*	Zumiez, Inc		637
			TOTAL RETAILING		808,788
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.4%
	29,482	*	Advanced Energy Industries, Inc		756
	474,503	*,e	Advanced Micro Devices, Inc		1,272
	11,245	*	Alpha & Omega Semiconductor Ltd		100
	234,103		Altera Corp		10,045
	21,591	*	Ambarella, Inc		1,635
	64,371	*	Amkor Technology, Inc		569
	233,106		Analog Devices, Inc		14,686
	914,892		Applied Materials, Inc		20,640
	59,771	*,e	Applied Micro Circuits Corp		305
	317,173		Atmel Corp		2,610
	7,201	*,e	Audience, Inc		33
	187,282		Avago Technologies Ltd		23,781
	83,398	*	Axcelis Technologies, Inc		198
	402,315		Broadcom Corp (Class A)		17,418
	52,087		Brooks Automation, Inc		606
	17,924	*	Cabot Microelectronics Corp		896
	9,758	*	Cascade Microtech, Inc		132
	38,988	*	Cavium Networks, Inc		2,761
	18,075	*	Ceva, Inc		385
	47,684	*	Cirrus Logic, Inc		1,586
	18,761		Cohu, Inc		205
	92,344	*,e	Cree, Inc		3,277
	230,085		Cypress Semiconductor Corp		3,246
	28,713	*	Diodes, Inc		820
	21,955	*	DSP Group, Inc		263
	105,554	*	Entegris, Inc		1,445
	68,235	*	Entropic Communications, Inc		202
	28,026	*	Exar Corp		282

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	95,996	*	Fairchild Semiconductor International, Inc	$	1,745
	53,360	*	First Solar, Inc		3,190
	40,961	*	Formfactor, Inc		363
	79,359	*	Freescale Semiconductor Holdings Ltd		3,235
	23,492	*	Inphi Corp		419
	100,476	*	Integrated Device Technology, Inc		2,012
	19,660		Integrated Silicon Solution, Inc		352
	3,730,918		Intel Corp		116,666
	94,162		Intersil Corp (Class A)		1,348
	16,725		IXYS Corp		206
	124,616		Kla-Tencor Corp		7,264
	50,517	*	Kopin Corp		178
	122,876		Lam Research Corp		8,630
	90,159	*	Lattice Semiconductor Corp		572
	175,784		Linear Technology Corp		8,227
	7,685	*,e	MA-COM Technology Solutions		286
	299,774		Marvell Technology Group Ltd		4,407
	210,176		Maxim Integrated Products, Inc		7,316
	17,709	*	MaxLinear, Inc		144
	40,439		Micrel, Inc		610
	150,135	e	Microchip Technology, Inc		7,342
	803,425	*	Micron Technology, Inc		21,797
	70,791	*	Microsemi Corp		2,506
	40,466		MKS Instruments, Inc		1,368
	28,065		Monolithic Power Systems, Inc		1,478
	18,167	*	Nanometrics, Inc		306
	3,184		NVE Corp		219
	422,848		Nvidia Corp		8,848
	40,842	*	Omnivision Technologies, Inc		1,077
	331,808	*	ON Semiconductor Corp		4,018
	23,357	*	PDF Solutions, Inc		419
	19,298		Pericom Semiconductor Corp		299
	46,544	*	Photronics, Inc		396
	130,681	*	PMC - Sierra, Inc		1,213
	22,927		Power Integrations, Inc		1,194
	108,586	*	Qorvo, Inc		8,654
	40,327	*,e	QuickLogic Corp		78
	84,186	*	Rambus, Inc		1,059
	19,674	*,e	Rubicon Technology, Inc		77
	25,190	*	Rudolph Technologies, Inc		278
	51,093	*	Semtech Corp		1,361
	32,688	*	Silicon Laboratories, Inc		1,660
	143,527		Skyworks Solutions, Inc		14,107
	203,017	*,e	SunEdison, Inc		4,872
	34,481	*,e	SunPower Corp		1,080
	145,162		Teradyne, Inc		2,736
	40,116		Tessera Technologies, Inc		1,616
	809,502		Texas Instruments, Inc		46,291
	17,159	*	Ultra Clean Holdings		123
	21,651	*	Ultratech, Inc		375
	29,696	*	Veeco Instruments, Inc		907
	38,295	*	Vitesse Semiconductor Corp		203

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	37,527	*	Xcerra Corp	$	334
	200,711		Xilinx, Inc		8,490
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		424,105
SOFTWARE & SERVICES - 10.3%
	9,048	*,e	A10 Networks, Inc		39
	473,999		Accenture plc		44,409
	90,744	*	ACI Worldwide, Inc		1,966
	369,713		Activision Blizzard, Inc		8,402
	32,107	*	Actua Corp		497
	57,158	*	Acxiom Corp		1,057
	373,155	*	Adobe Systems, Inc		27,591
	39,195		Advent Software, Inc		1,729
	134,169	*	Akamai Technologies, Inc		9,532
	44,386	*	Alliance Data Systems Corp		13,149
	6,591	*,e	Amber Road, Inc		61
	119,106		Amdocs Ltd		6,479
	15,720	*	American Software, Inc (Class A)		161
	32,146	*,e	Angie’s List, Inc		189
	68,549	*	Ansys, Inc		6,045
	61,041	*	AOL, Inc		2,418
	71,089	*	Aspen Technology, Inc		2,736
	172,342	*	Autodesk, Inc		10,106
	360,534		Automatic Data Processing, Inc		30,876
	25,053	*	AVG Technologies NV		542
	50,870	*	Bankrate, Inc		577
	5,965	*	Barracuda Networks, Inc		229
	36,867	*,e	Bazaarvoice, Inc		208
	2,542	*,e	Benefitfocus, Inc		94
	35,258		Blackbaud, Inc		1,671
	38,269	*,e	Blackhawk Network Holdings, Inc		1,369
	30,473	*	Blucora, Inc		416
	55,821		Booz Allen Hamilton Holding Co		1,615
	4,804	*,e	Borderfree, Inc		29
	29,562	*	Bottomline Technologies, Inc		809
	20,694	*	Brightcove, Inc		152
	92,422		Broadridge Financial Solutions, Inc		5,084
	20,308	*	BroadSoft, Inc		680
	237,907		CA, Inc		7,758
	17,259	*	CACI International, Inc (Class A)		1,552
	219,174	*	Cadence Design Systems, Inc		4,042
	35,036	*	Callidus Software, Inc		444
	13,412	*	Carbonite, Inc		192
	33,955	*	Cardtronics, Inc		1,277
	5,000	*,e	Care.com, Inc		38
	7,744		Cass Information Systems, Inc		435
	120,637		CDK Global, Inc		5,641
	15,814	*,e	ChannelAdvisor Corp		153
	52,926	*	Ciber, Inc		218
	24,953	*,e	Cimpress NV		2,106
	123,631	*	Citrix Systems, Inc		7,896
	457,674	*	Cognizant Technology Solutions Corp (Class A)		28,554

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	35,374	*	Commvault Systems, Inc	$	1,546
	108,985		Computer Sciences Corp		7,115
	11,045		Computer Task Group, Inc		81
	27,099	*	comScore, Inc		1,387
	16,654	*	Comverse, Inc		328
	23,960	*	Constant Contact, Inc		916
	76,457		Convergys Corp		1,749
	40,208	*	Cornerstone OnDemand, Inc		1,162
	21,672	*	CoStar Group, Inc		4,287
	8,764	*,e	Coupons.com, Inc		103
	22,974	*,e	Covisint Corp		47
	27,701	e	CSG Systems International, Inc		842
	13,746	*,e	Cvent, Inc		385
	20,584	*,e	Cyan, Inc		82
	11,133	*	Datalink Corp		134
	40,435	*	DealerTrack Holdings, Inc		1,558
	4,552	*	Demand Media, Inc		26
	22,223	*,e	Demandware, Inc		1,353
	37,330	*	Dice Holdings, Inc		333
	5,437	e	DMRC Corp		119
	22,274		DST Systems, Inc		2,466
	82,942		EarthLink Holdings Corp		368
	949,832	*	eBay, Inc		54,786
	15,000	e	Ebix, Inc		456
	235,163	*	Electronic Arts, Inc		13,831
	20,207	*	Ellie Mae, Inc		1,118
	21,956	*,e	Endurance International Group Holdings, Inc		418
	20,747	*,e	EnerNOC, Inc		237
	25,859	*	Envestnet, Inc		1,450
	25,200	*	EPAM Systems, Inc		1,545
	25,591		EPIQ Systems, Inc		459
	3,943	*	ePlus, Inc		343
	38,947		Equinix, Inc		9,069
	37,881	*	Euronet Worldwide, Inc		2,226
	45,179		EVERTEC, Inc		988
	5,306	*	Everyday Health, Inc		68
	24,918	*	ExlService Holdings, Inc		927
	1,479,740	*	Facebook, Inc		121,657
	31,946		Factset Research Systems, Inc		5,086
	24,107		Fair Isaac Corp		2,139
	215,742		Fidelity National Information Services, Inc		14,683
	64,915	*,e	FireEye, Inc		2,548
	67,170	*	First American Corp		2,369
	186,455	*	Fiserv, Inc		14,805
	9,532	*,e	Five9, Inc		53
	62,803	*	FleetCor Technologies, Inc		9,478
	28,477	*,e	FleetMatics Group plc		1,277
	11,266		Forrester Research, Inc		414
	103,474	*	Fortinet, Inc		3,616
	68,004	*	Gartner, Inc		5,702
	122,107	*	Genpact Ltd		2,839

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	18,635	*	Gigamon, Inc	$	396
	51,313	*	Global Cash Access, Inc		391
	51,191		Global Payments, Inc		4,693
	14,759	*	Global Sources Ltd		87
	20,044	*,e	Globant S.A.		422
	69,701	*,e	Glu Mobile, Inc		349
	42,541	*,e	Gogo, Inc		811
	212,860	*	Google, Inc		116,647
	210,371	*	Google, Inc (Class A)		116,693
	6,976	*	GrubHub, Inc		317
	9,950	*	GTT Communications, Inc		188
	9,927	*	Guidance Software, Inc		54
	51,316	*	Guidewire Software, Inc		2,700
	28,793		Hackett Group, Inc		257
	28,656		Heartland Payment Systems, Inc		1,343
	23,633	*	Higher One Holdings, Inc		57
	70,903	*	HomeAway, Inc		2,139
	14,191	*,e	HubSpot, Inc		566
	56,348		IAC/InterActiveCorp		3,802
	27,237	*	iGate Corp		1,162
	15,425	*	Imperva, Inc		659
	37,980	*	Infoblox, Inc		907
	82,708	*	Informatica Corp		3,627
	25,780		Information Services Group, Inc		103
	12,605	*,e	Interactive Intelligence, Inc		519
	40,309	*	Internap Network Services Corp		412
	708,976		International Business Machines Corp		113,791
	213,644		Intuit, Inc		20,715
	36,074		j2 Global, Inc		2,369
	63,715		Jack Henry & Associates, Inc		4,453
	30,270	*	Jive Software, Inc		155
	19,259	*	Knot, Inc		340
	56,344	*	Kofax Ltd		617
	49,809		Leidos Holdings, Inc		2,090
	50,188	*	LendingClub Corp		986
	50,961	*	Limelight Networks, Inc		185
	78,486	*	LinkedIn Corp		19,611
	44,720	*	Lionbridge Technologies		256
	19,090	*,e	Liquidity Services, Inc		189
	40,701	*	Liveperson, Inc		417
	18,232	*	LogMeIn, Inc		1,021
	5,938	*	Luxoft Holding, Inc		307
	13,813	*,e	magicJack VocalTec Ltd		94
	56,909	*	Manhattan Associates, Inc		2,880
	18,418		Mantech International Corp (Class A)		625
	25,119		Marchex, Inc (Class B)		102
	20,549	*	Marin Software, Inc		129
	19,466	*,e	Marketo, Inc		499
	753,258		Mastercard, Inc (Class A)		65,074
	7,815	*	Mavenir Systems, Inc		139
	51,764		MAXIMUS, Inc		3,456
	73,403		Mentor Graphics Corp		1,764

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	6,191,102		Microsoft Corp	$	251,699
	6,844	*	MicroStrategy, Inc (Class A)		1,158
	117,360	*,e	Millennial Media, Inc		170
	9,450	*,e	MobileIron, Inc		88
	14,483	*	Model N, Inc		173
	33,165	*	ModusLink Global Solutions, Inc		128
	22,389	*	MoneyGram International, Inc		193
	29,292		Monotype Imaging Holdings, Inc		956
	70,908	*,e	Monster Worldwide, Inc		450
	28,739	*	Netscout Systems, Inc		1,260
	31,367	*,e	NetSuite, Inc		2,910
	42,216	*,e	NeuStar, Inc (Class A)		1,039
	48,579		NIC, Inc		858
	199,552	*	Nuance Communications, Inc		2,864
	5,741	*,e	OPOWER, Inc		58
	2,461,637		Oracle Corp		106,220
	155,524	*,e	Pandora Media, Inc		2,521
	7,197	*,e	Park City Group, Inc		99
	242,545		Paychex, Inc		12,034
	4,481	*	Paycom Software, Inc		144
	24,918		Pegasystems, Inc		542
	25,493	*	Perficient, Inc		527
	22,039	*	PRGX Global, Inc		89
	38,760	*	Progress Software Corp		1,053
	27,964	*	Proofpoint, Inc		1,656
	17,256	*	PROS Holdings, Inc		426
	90,859	*	PTC, Inc		3,286
	7,544	*	Q2 Holdings, Inc		159
	3,320		QAD, Inc (Class A)		80
	65,926	*	QLIK Technologies, Inc		2,052
	15,315	*	Qualys, Inc		712
	20,643	*	QuinStreet, Inc		123
	86,647	*	Rackspace Hosting, Inc		4,470
	20,376	*	Rally Software Development Corp		320
	18,038	*	RealNetworks, Inc		121
	39,496	*	RealPage, Inc		795
	142,700	*	Red Hat, Inc		10,810
	6,528		Reis, Inc		167
	23,188	*	RetailMeNot, Inc		418
	4,552	*,e	Rightside Group Ltd		46
	13,745	*,e	Rocket Fuel, Inc		126
	15,279	*	Rosetta Stone, Inc		116
	71,644	*	Rovi Corp		1,305
	5,726	*	Rubicon Project, Inc		103
	31,508		Sabre Corp		766
	460,155	*	Salesforce.com, Inc		30,743
	13,536	*	Sapiens International Corp NV		111
	31,732		Science Applications International Corp		1,629
	21,075	*	Sciquest, Inc		357
	24,634	*	Seachange International, Inc		193
	109,169	*	ServiceNow, Inc		8,600
	46,932	*,e	ServiceSource International LLC		146

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	11,435	*,e	Shutterstock, Inc	$	785
	26,176	*,e	Silver Spring Networks, Inc		234
	49,819	*	SolarWinds, Inc		2,553
	52,358		Solera Holdings, Inc		2,705
	89,484	*	Splunk, Inc		5,297
	11,456	*	SPS Commerce, Inc		769
	51,412		SS&C Technologies Holdings, Inc		3,203
	11,136	*	Stamps.com, Inc		749
	31,978	*	Sykes Enterprises, Inc		795
	518,408		Symantec Corp		12,113
	26,622	*	Synchronoss Technologies, Inc		1,263
	114,623	*	Synopsys, Inc		5,309
	23,254	*	Syntel, Inc		1,203
	34,637	*	TA Indigo Holding Corp		358
	28,745	*	Tableau Software, Inc		2,659
	72,182	*	Take-Two Interactive Software, Inc		1,837
	29,444	*	Tangoe, Inc		406
	12,153	*	TechTarget, Inc		140
	24,938	*	TeleCommunication Systems, Inc (Class A)		96
	12,644	*	TeleNav, Inc		100
	13,212		TeleTech Holdings, Inc		336
	119,632	*,e	Teradata Corp		5,281
	14,409	*,e	Textura Corp		392
	87,562	*	TiVo, Inc		929
	126,792		Total System Services, Inc		4,837
	6,116	*,e	Travelzoo, Inc		59
	25,168	*,e	Tremor Video, Inc		59
	6,295	*,e	TrueCar, Inc		112
	389,780	*	Twitter, Inc		19,520
	24,991	*	Tyler Technologies, Inc		3,012
	21,521	*	Ultimate Software Group, Inc		3,658
	38,674	*	Unisys Corp		898
	68,687	*	Unwired Planet, Inc		39
	94,253	*	Vantiv, Inc		3,553
	3,865	*	Varonis Systems, Inc		99
	19,828	*,e	Vasco Data Security International		427
	84,224	*	VeriFone Systems, Inc		2,939
	41,214	*	Verint Systems, Inc		2,552
	91,214	*,e	VeriSign, Inc		6,109
	32,131	*,e	VirnetX Holding Corp		196
	19,493	*	Virtusa Corp		807
	1,503,232		Visa, Inc (Class A)		98,326
	66,416	*	VMware, Inc (Class A)		5,447
	49,370	*,e	Vringo, Inc		32
	28,678	*,e	WebMD Health Corp (Class A)		1,257
	36,917	*	Website Pros, Inc		700
	407,229	e	Western Union Co		8,474
	29,100	*	WEX, Inc		3,124
	9,100	*,e	Wix.com Ltd		174
	70,957	*	Workday, Inc		5,989
	874,838		Xerox Corp		11,242
	23,310	*,e	Xoom Corp		342

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	711,973	*	Yahoo!, Inc	$	31,637
	37,978	*,e	Yelp, Inc		1,798
	16,364	*,e	Yodlee, Inc		220
	14,220	*,e	YuMe, Inc		74
	8,238	*,e	Zendesk, Inc		187
	35,694	*,e	Zillow Group, Inc		3,580
	47,197	*	Zix Corp		185
	534,906	*	Zynga, Inc		1,524
			TOTAL SOFTWARE & SERVICES		1,773,531
TECHNOLOGY HARDWARE & EQUIPMENT - 6.3%
	83,151	*,e	3D Systems Corp		2,280
	45,260		Adtran, Inc		845
	7,597	*,e	Aerohive Networks, Inc		34
	18,766	*	Agilysys, Inc		185
	9,098	e	Alliance Fiber Optic Products, Inc		158
	235,926		Amphenol Corp (Class A)		13,903
	20,525		Anixter International, Inc		1,563
	4,519,028		Apple, Inc		562,303
	11,231	*,e	Applied Optoelectronics, Inc		156
	4,588	*	Arista Networks, Inc		324
	95,409	*	ARRIS Group, Inc		2,757
	73,244	*	Arrow Electronics, Inc		4,479
	80,354	*	Aruba Networks, Inc		1,968
	101,447		Avnet, Inc		4,514
	34,410		AVX Corp		491
	11,475		Badger Meter, Inc		688
	7,316		Bel Fuse, Inc (Class B)		139
	33,137		Belden CDT, Inc		3,100
	40,623	*	Benchmark Electronics, Inc		976
	12,526		Black Box Corp		262
	330,434		Brocade Communications Systems, Inc		3,921
	26,799	*,e	CalAmp Corp		434
	28,887	*	Calix Networks, Inc		242
	65,847		CDW Corp		2,452
	30,668		Checkpoint Systems, Inc		332
	77,250	*	Ciena Corp		1,492
	3,839,373		Cisco Systems, Inc		105,679
	8,964	*,e	Clearfield, Inc		133
	65,532	*	Cognex Corp		3,250
	19,403	*	Coherent, Inc		1,260
	47,048	*	CommScope Holding Co, Inc		1,343
	11,551		Comtech Telecommunications Corp		334
	8,410	*,e	Control4 Corp		101
	980,656		Corning, Inc		22,241
	29,620	*	Cray, Inc		832
	23,637		CTS Corp		425
	16,074	*,e	CUI Global, Inc		94
	27,847		Daktronics, Inc		301
	47,853		Diebold, Inc		1,697
	18,652	*	Digi International, Inc		186
	34,151		Dolby Laboratories, Inc (Class A)		1,303

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	46,638	*	Dot Hill Systems Corp	$	247
	16,172	*	DTS, Inc		551
	13,533	*	Eastman Kodak Co		257
	32,770	*	EchoStar Corp (Class A)		1,695
	11,677		Electro Rent Corp		132
	17,062		Electro Scientific Industries, Inc		105
	35,264	*	Electronics for Imaging, Inc		1,472
	1,534,321		EMC Corp		39,217
	65,177	*	Emulex Corp		519
	79,396	*	Extreme Networks, Inc		251
	57,317	*	F5 Networks, Inc		6,588
	26,560	*	Fabrinet		504
	12,851	*	FARO Technologies, Inc		798
	32,068		FEI Co		2,448
	73,430	*,e	Finisar Corp		1,567
	104,966		Flir Systems, Inc		3,283
	20,123	*	GSI Group, Inc		268
	85,574	*	Harmonic, Inc		634
	79,176		Harris Corp		6,236
	1,422,583		Hewlett-Packard Co		44,328
	21,661	*	Immersion Corp		199
	88,583	*	Infinera Corp		1,742
	116,956	*	Ingram Micro, Inc (Class A)		2,938
	32,646	*	Insight Enterprises, Inc		931
	31,229		InterDigital, Inc		1,585
	17,622	*	Intevac, Inc		108
	53,770	*,e	InvenSense, Inc		818
	24,446	*,e	IPG Photonics Corp		2,266
	31,091	*	Itron, Inc		1,135
	43,041	*	Ixia		522
	154,194		Jabil Circuit, Inc		3,605
	176,416	*	JDS Uniphase Corp		2,315
	308,348		Juniper Networks, Inc		6,962
	33,781	*	Kemet Corp		140
	125,388	*	Keysight Technologies, Inc		4,658
	18,878	*	Kimball Electronics, Inc		267
	64,648	*,e	Knowles Corp		1,246
	10,929	*	KVH Industries, Inc		165
	48,008		Lexmark International, Inc (Class A)		2,033
	17,104		Littelfuse, Inc		1,700
	22,942	*,e	Maxwell Technologies, Inc		185
	23,128	*	Mercury Computer Systems, Inc		360
	1,988		Mesa Laboratories, Inc		144
	28,385		Methode Electronics, Inc		1,335
	154,590		Motorola, Inc		10,307
	12,135		MTS Systems Corp		918
	9,079	*	Multi-Fineline Electronix, Inc		166
	75,087		National Instruments Corp		2,406
	127,136	*	NCR Corp		3,752
	225,239		NetApp, Inc		7,987
	28,803	*	Netgear, Inc		947
	27,910	*	Newport Corp		532

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	6,210	*,e	Nimble Storage, Inc	$	139
	10,650	*	Numerex Corp		121
	72,862	*,e	Oclaro, Inc		144
	14,702	*	OSI Systems, Inc		1,092
	39,302	*	Palo Alto Networks, Inc		5,741
	18,452		Park Electrochemical Corp		398
	68,401	*,e	Parkervision, Inc		57
	6,868		PC Connection, Inc		179
	31,900		Plantronics, Inc		1,689
	25,402	*	Plexus Corp		1,036
	104,359	*	Polycom, Inc		1,398
	16,952	*,e	Procera Networks, Inc		159
	73,291	*	QLogic Corp		1,080
	1,265,034		Qualcomm, Inc		87,717
	171,155	*	Quantum Corp		274
	36,008	*,e	RealD, Inc		461
	124,087	*	Riverbed Technology, Inc		2,595
	21,664	*	Rofin-Sinar Technologies, Inc		525
	13,791	*	Rogers Corp		1,134
	48,685	*	Ruckus Wireless, Inc		627
	170,395		SanDisk Corp		10,841
	61,646	*	Sanmina Corp		1,491
	22,159	*	Scansource, Inc		901
	43,182	*	ShoreTel, Inc		295
	25,143	*,e	Silicon Graphics International Corp		218
	37,508	*	Sonus Networks, Inc		296
	29,279	*,e	Speed Commerce, Inc		19
	37,383	*,e	Stratasys Ltd		1,973
	25,994	*	Super Micro Computer, Inc		863
	27,223	*,e	Synaptics, Inc		2,213
	21,522		SYNNEX Corp		1,663
	28,651	*	Tech Data Corp		1,655
	3,883		Tessco Technologies, Inc		96
	197,674	*	Trimble Navigation Ltd		4,981
	41,884	*,e	TTM Technologies, Inc		377
	21,543	e	Ubiquiti Networks, Inc		637
	29,474	*,e	Universal Display Corp		1,378
	31,477	*	Viasat, Inc		1,876
	3,408	*	Viasystems Group, Inc		60
	60,568	*,e	Violin Memory, Inc		228
	100,754		Vishay Intertechnology, Inc		1,392
	9,508	*	Vishay Precision Group, Inc		151
	161,050		Western Digital Corp		14,657
	38,765	*	Zebra Technologies Corp (Class A)		3,517
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,082,995
TELECOMMUNICATION SERVICES - 2.0%
	66,124	*	8x8, Inc		555
	3,886,671		AT&T, Inc		126,900
	7,918		Atlantic Tele-Network, Inc		548
	12,079	*	Boingo Wireless, Inc		91
	429,285		CenturyTel, Inc		14,832

307

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	149,815	*	Cincinnati Bell, Inc	$	529
	35,274		Cogent Communications Group, Inc		1,246
	38,388	e	Consolidated Communications Holdings, Inc		783
	16,551	*	Fairpoint Communications, Inc		291
	762,890	e	Frontier Communications Corp		5,378
	24,304	*	General Communication, Inc (Class A)		383
	206,831	*,e	Globalstar, Inc		689
	7,568	*	Hawaiian Telcom Holdco, Inc		202
	10,513		IDT Corp (Class B)		187
	45,794	*,e	inContact, Inc		499
	25,073		Inteliquent, Inc		395
	20,308	*,e	Intelsat S.A.		244
	60,764	*,e	Iridium Communications, Inc		590
	208,667	*	Level 3 Communications, Inc		11,235
	11,759		Lumos Networks Corp		179
	11,759	e	NTELOS Holdings Corp		56
	28,044	*	Orbcomm, Inc		167
	42,630	*	Premiere Global Services, Inc		408
	21,474	*,e	RingCentral, Inc		329
	97,128	*	SBA Communications Corp (Class A)		11,374
	18,151		Shenandoah Telecom Co		566
	18,421		Spok Holdings, Inc		353
	551,084	*,e	Sprint Corp		2,612
	64,768		Telephone & Data Systems, Inc		1,613
	201,000	*	T-Mobile US, Inc		6,370
	9,529		US Cellular Corp		340
	3,103,706		Verizon Communications, Inc		150,933
	119,221	*	Vonage Holdings Corp		585
	459,835	e	Windstream Holdings, Inc		3,403
	29,659	*,e	Zayo Group Holdings, Inc		829
			TOTAL TELECOMMUNICATION SERVICES		345,694
TRANSPORTATION - 2.4%
	44,655	*	Air Transport Services Group, Inc		412
	101,817		Alaska Air Group, Inc		6,738
	10,384		Allegiant Travel Co		1,997
	5,591		Amerco, Inc		1,847
	540,604		American Airlines Group, Inc		28,533
	19,331		Arkansas Best Corp		732
	19,165	*	Atlas Air Worldwide Holdings, Inc		825
	79,796	*	Avis Budget Group, Inc		4,709
	37,980	e	Baltic Trading Ltd		57
	16,346		Celadon Group, Inc		445
	112,465	e	CH Robinson Worldwide, Inc		8,235
	42,760		Con-Way, Inc		1,887
	24,453	e	Copa Holdings S.A. (Class A)		2,469
	752,725		CSX Corp		24,930
	634,635		Delta Air Lines, Inc		28,533
	17,462	*	Echo Global Logistics, Inc		476
	146,911		Expeditors International of Washington, Inc		7,078
	221,831		FedEx Corp		36,702
	22,919		Forward Air Corp		1,245

308

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	37,277	*	Genesee & Wyoming, Inc (Class A)	$	3,595
	34,479	*,e	Hawaiian Holdings, Inc		759
	41,206		Heartland Express, Inc		979
	339,163	*	Hertz Global Holdings, Inc		7,353
	28,105	*	Hub Group, Inc (Class A)		1,104
	4,290		International Shipholding Corp		52
	69,164		J.B. Hunt Transport Services, Inc		5,906
	184,047	*,e	JetBlue Airways Corp		3,543
	82,978		Kansas City Southern Industries, Inc		8,470
	42,550	*	Kirby Corp		3,193
	45,057		Knight Transportation, Inc		1,453
	24,864	e	Knightsbridge Tankers Ltd		124
	33,831		Landstar System, Inc		2,243
	17,739		Marten Transport Ltd		412
	32,238		Matson, Inc		1,359
	60,245		Navios Maritime Holdings, Inc		252
	232,273		Norfolk Southern Corp		23,906
	47,554	*	Old Dominion Freight Line		3,676
	2,470	*	PAM Transportation Services, Inc		141
	6,136		Park-Ohio Holdings Corp		323
	1,647	*	Patriot Transportation Holding, Inc		41
	20,803	*	Quality Distribution, Inc		215
	36,815	*	Republic Airways Holdings, Inc		506
	20,933	*	Roadrunner Transportation Services Holdings, Inc		529
	40,345		Ryder System, Inc		3,828
	30,068		Safe Bulkers, Inc		108
	18,094	*	Saia, Inc		802
	102,799	*,e	Scorpio Bulkers, Inc		244
	40,260		Skywest, Inc		588
	519,579		Southwest Airlines Co		23,017
	55,048	*	Spirit Airlines, Inc		4,259
	63,781	*	Swift Transportation Co, Inc		1,660
	282,381	*	UAL Corp		18,990
	14,027	*	Ultrapetrol Bahamas Ltd		20
	678,894		Union Pacific Corp		73,531
	531,352		United Parcel Service, Inc (Class B)		51,509
	3,884		Universal Truckload Services, Inc		98
	4,427	*,e	USA Truck, Inc		123
	69,158	e	UTI Worldwide, Inc		851
	9,699	*,e	Virgin America, Inc		295
	34,798		Werner Enterprises, Inc		1,093
	34,408	*	Wesco Aircraft Holdings, Inc		527
	40,094	*,e	XPO Logistics, Inc		1,823
	23,809	*	YRC Worldwide, Inc		428
			TOTAL TRANSPORTATION		411,778
UTILITIES - 3.0%
	15,035		Abengoa Yield plc		508
	497,334		AES Corp		6,391
	90,267		AGL Resources, Inc		4,482
	32,016		Allete, Inc		1,689
	84,216		Alliant Energy Corp		5,306

309

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	184,363		Ameren Corp	$	7,780
	367,101		American Electric Power Co, Inc		20,649
	29,456		American States Water Co		1,175
	134,451		American Water Works Co, Inc		7,289
	134,973		Aqua America, Inc		3,557
	4,909		Artesian Resources Corp		105
	108,646	e	Atlantic Power Corp		305
	69,174		Atmos Energy Corp		3,825
	45,672		Avista Corp		1,561
	33,522		Black Hills Corp		1,691
	35,650		California Water Service Group		874
	306,005	*	Calpine Corp		6,998
	325,746		Centerpoint Energy, Inc		6,648
	11,590		Chesapeake Utilities Corp		587
	46,444		Cleco Corp		2,532
	203,302		CMS Energy Corp		7,097
	8,405		Connecticut Water Service, Inc		305
	220,291		Consolidated Edison, Inc		13,438
	438,116		Dominion Resources, Inc		31,049
	131,757		DTE Energy Co		10,631
	530,050		Duke Energy Corp		40,697
	92,132	*	Dynegy, Inc		2,896
	244,181		Edison International		15,254
	30,616		El Paso Electric Co		1,183
	33,239		Empire District Electric Co		825
	135,237		Entergy Corp		10,480
	239,428		Eversource Energy		12,096
	643,562		Exelon Corp		21,630
	318,220		FirstEnergy Corp		11,157
	117,135		Great Plains Energy, Inc		3,125
	73,366		Hawaiian Electric Industries, Inc		2,357
	38,056		Idacorp, Inc		2,393
	59,780		Integrys Energy Group, Inc		4,305
	118,947		ITC Holdings Corp		4,452
	32,340		Laclede Group, Inc		1,656
	144,429		MDU Resources Group, Inc		3,082
	26,250		MGE Energy, Inc		1,163
	11,759		Middlesex Water Co		268
	55,740		National Fuel Gas Co		3,363
	63,442		New Jersey Resources Corp		1,971
	326,860		NextEra Energy, Inc		34,010
	237,792		NiSource, Inc		10,501
	22,143	e	Northwest Natural Gas Co		1,062
	27,832		NorthWestern Corp		1,497
	245,109		NRG Energy, Inc		6,174
	17,100	e	NRG Yield, Inc		867
	150,808		OGE Energy Corp		4,767
	39,547	e	ONE Gas, Inc		1,710
	13,917	e	Ormat Technologies, Inc		529
	27,545		Otter Tail Corp		886
	29,866		Pattern Energy Group, Inc		846
	189,953		Pepco Holdings, Inc		5,096

310

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	351,902		PG&E Corp	$	18,675
	61,707		Piedmont Natural Gas Co, Inc		2,278
	83,775		Pinnacle West Capital Corp		5,341
	60,937		PNM Resources, Inc		1,779
	58,032	e	Portland General Electric Co		2,152
	502,156		PPL Corp		16,903
	384,444		Public Service Enterprise Group, Inc		16,116
	130,852		Questar Corp		3,122
	104,149		SCANA Corp		5,727
	184,580		Sempra Energy		20,123
	12,005		SJW Corp		371
	24,625		South Jersey Industries, Inc		1,337
	665,012		Southern Co		29,447
	34,400		Southwest Gas Corp		2,001
	163,004		TECO Energy, Inc		3,162
	17,533		TerraForm Power, Inc		640
	128,103		UGI Corp		4,175
	43,076		UIL Holdings Corp		2,215
	10,272		Unitil Corp		357
	62,331		Vectren Corp		2,751
	96,665		Westar Energy, Inc		3,747
	39,376		WGL Holdings, Inc		2,221
	170,964		Wisconsin Energy Corp		8,463
	375,757		Xcel Energy, Inc		13,080
	9,006		York Water Co		219
			TOTAL UTILITIES		525,172
			TOTAL COMMON STOCKS		17,248,532
			(Cost $9,196,809)
RIGHTS / WARRANTS - 0.0%
ENERGY - 0.0%
	15,560	e,m	Magnum Hunter Resources Corp		0	^
			TOTAL ENERGY		0	^
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	10,743	*,m	Forest Laboratories, Inc CVR		10
	6,747	*,m	Furiex Pharmaceuticals, Inc		66
	4,045	*,m	Omthera Pharmaceuticals, Inc		2
	28,951	e,m	Trius Therapeutics, Inc		4
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		82
SOFTWARE & SERVICES
	19,206	*,m	Gerber Scientific, Inc		0	^
			TOTAL SOFTWARE & SERVICES		0	^
TELECOMMUNICATION SERVICES - 0.0%
	46,753	m	Leap Wireless International, Inc		118
			TOTAL TELECOMMUNICATION SERVICES		118
			TOTAL RIGHTS / WARRANTS		200
			(Cost $184)

311

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 3.2%
GOVERNMENT AGENCY DEBT - 0.0%
$	8,000,000	d	Federal Home Loan Bank (FHLB)		0.050	%	04/29/15	$	8,000
			TOTAL GOVERNMENT AGENCY DEBT						8,000
TREASURY DEBT - 0.0%
	300,000	d	United States Treasury Bill		0.120		07/23/15		300
	1,000,000	d	United States Treasury Bill		0.065		08/27/15		999
			TOTAL TREASURY DEBT						1,299
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 3.2%
	549,146,032	a,c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust						549,146
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						549,146
			TOTAL SHORT-TERM INVESTMENTS						558,445
			(Cost $558,445)
			TOTAL INVESTMENTS - 103.0%						17,807,177
			(Cost $9,755,438)
			OTHER ASSETS & LIABILITIES, NET - (3.0)%						(517,623	)
			NET ASSETS - 100.0%					$	17,289,554

	Abbreviation(s):
ETF	Exchange Traded Fund
REIT	Real Estate Investment Trust
SPDR	Standard & Poor’s Depository Receipts

*	Non-income producing
^	Amount represents less than $1,000.
a	Affiliated holding
c	Investments made with cash collateral received from securities on loan.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures transactions.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $531,695,000.
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.

312

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND

BOND MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2015

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BANK LOAN OBLIGATIONS - 0.9%
AUTOMOBILES & COMPONENTS - 0.1%
$	4,975,000	i	Gates Global LLC		4.250	%	07/05/21	$	4,953
	5,000,000	i	INA Beteiligungsgesellschaft mbH		4.250		05/15/20		5,032
			TOTAL AUTOMOBILES & COMPONENTS						9,985
CAPITAL GOODS - 0.0%
	4,789,750	i	TransDigm, Inc		3.750		02/28/20		4,778
			TOTAL CAPITAL GOODS						4,778
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	2,719,656	i	Capital Safety North America		3.750		03/29/21		2,672
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						2,672
CONSUMER SERVICES - 0.1%
	4,963,778	i	1011778 BC ULC		4.500		12/12/21		5,011
	4,369,369	i	Hilton Worldwide		3.500		10/26/20		4,373
	4,961,929	i	MGM Resorts International		3.500		12/20/19		4,944
			TOTAL CONSUMER SERVICES						14,328
DIVERSIFIED FINANCIALS - 0.0%
	4,962,406		i TransUnion LLC		4.000		04/09/21		4,959
			TOTAL DIVERSIFIED FINANCIALS						4,959
ENERGY - 0.0%
	168,582	i	Granite Acquisition, Inc		5.000		12/19/21		171
	3,821,839	i	Granite Acquisition, Inc		5.000		12/19/21		3,866
			TOTAL ENERGY						4,037
FOOD & STAPLES RETAILING - 0.1%
	5,550,000	i	Albertson’s Holdings LLC		5.500		08/25/21		5,594
			TOTAL FOOD & STAPLES RETAILING						5,594
FOOD, BEVERAGE & TOBACCO - 0.1%
	7,778,879	i	HJ Heinz Co		3.000		06/07/19		7,782
			TOTAL FOOD, BEVERAGE & TOBACCO						7,782
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	3,600,800	i	Capsugel Holdings US, Inc		3.500		08/01/18		3,594
	469,063	i	CHS/Community Health Systems		4.250		01/27/21		471
	1,687,250	i	DaVita HealthCare Partners, Inc		3.500		06/24/21		1,690
	2,968,411	i	Kinetic Concepts, Inc		4.000		11/04/16		2,965
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						8,720
MATERIALS - 0.1%
	891,765	i	Eco Services Operations LLC		4.750		12/04/21		894

313

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,344,376		Minerals Technologies, Inc		4.000	%	05/09/21	$	2,353
	3,000,000	i	Minerals Technologies, Inc		4.000		05/09/21		3,011
	3,383,000	i	Solenis International LP		4.250		07/31/21		3,356
			TOTAL MATERIALS						9,614
MEDIA - 0.1%
	5,000,000	i	CBS Outdoor Americas Capital LLC		3.000		02/01/21		4,988
	4,525,502	i	MTL Publishing LLC		3.750		06/29/18		4,517
	1,812,654	i	Univision Communications, Inc		4.000		03/01/20		1,808
	3,846,642	i	Virgin Media Investment Holdings Ltd		3.500		06/05/20		3,840
			TOTAL MEDIA						15,153
RETAILING - 0.0%
	835,000	i	Dollar Tree, Inc		4.250		03/09/22		844
	850,000	i	PetSmart, Inc		5.000		03/11/22		856
	1,962,238	i	Stater Bros Markets		4.750		05/12/21		1,957
			TOTAL RETAILING						3,657
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.1%
	10,750,784	i	Avago Technologies Ltd		3.750		05/06/21		10,766
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						10,766
SOFTWARE & SERVICES - 0.1%
	4,410,030	i	Activision Blizzard, Inc		3.250		10/11/20		4,427
	4,962,406	i	IMS Health, Inc		3.500		03/17/21		4,940
			TOTAL SOFTWARE & SERVICES						9,367
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	4,763,728	i	NXP BV		3.250		01/11/20		4,740
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						4,740
UTILITIES - 0.0%
	195,003	i	Calpine Corp		4.000		10/09/19		195
			TOTAL UTILITIES						195
			TOTAL BANK LOAN OBLIGATIONS						116,347
			(Cost $116,058)
BONDS - 96.3%
CORPORATE BONDS - 36.3%
AUTOMOBILES & COMPONENTS - 0.3%
	10,300,000		Ford Motor Co		4.750		01/15/43		11,263
	1,000,000	g	Gates Global LLC		6.000		07/15/22		944
	1,900,000	g,h	Hyundai Capital Services, Inc		2.625		09/29/20		1,908
	13,950,000		Johnson Controls, Inc		4.625		07/02/44		14,964
	8,675,000		Magna International, Inc		3.625		06/15/24		8,838
			TOTAL AUTOMOBILES & COMPONENTS						37,917
BANKS - 6.7%
	3,100,000	g	Akbank TAS		4.000		01/24/20		3,024

314

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,300,000	g	Akbank TAS		5.125	%	03/31/25	$	2,260
	2,500,000		Banco de Oro Unibank, Inc		3.875		04/22/16		2,542
	1,500,000		Bancolombia S.A.		5.950		06/03/21		1,657
	1,500,000	g	Bank Nederlandse Gemeenten		1.375		03/19/18		1,511
	3,000,000	g	Bank Nederlandse Gemeenten		1.875		06/11/19		3,058
	5,000,000	g	Bank Nederlandse Gemeenten		2.625		04/28/21		5,229
	5,000,000	g	Bank Nederlandse Gemeenten NV		1.750		03/24/20		5,033
	15,175,000		Bank of America Corp		3.750		07/12/16		15,640
	18,550,000		Bank of America Corp		5.300		03/15/17		19,808
	8,525,000		Bank of America Corp		6.000		09/01/17		9,376
	9,000,000		Bank of America Corp		2.600		01/15/19		9,160
	7,000,000		Bank of America Corp		2.650		04/01/19		7,133
	16,500,000		Bank of America Corp		4.000		01/22/25		16,714
	6,750,000		Bank of America Corp		4.250		10/22/26		6,968
	6,350,000		Bank of America Corp		5.000		01/21/44		7,289
	8,700,000		Bank of America Corp		4.875		04/01/44		9,793
	27,700,000	g	Bank of Montreal		2.625		01/25/16		28,225
	29,500,000	g	Bank of Nova Scotia		2.150		08/03/16		30,092
	25,000,000		Bank of Nova Scotia		2.125		09/11/19		25,401
	5,850,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		2.350		02/23/17		5,956
	5,450,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		2.350		09/08/19		5,501
	7,100,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		3.250		09/08/24		7,316
	8,075,000		Barclays plc		2.750		11/08/19		8,155
	13,300,000		Barclays plc		3.650		03/16/25		13,341
	5,190,000	g	BBVA Banco Continental S.A.		3.250		04/08/18		5,333
	3,200,000		Branch Banking & Trust Co		2.300		10/15/18		3,274
	12,500,000	g	Canadian Imperial Bank of Commerce		2.750		01/27/16		12,724
	11,850,000		Capital One Bank USA NA		2.950		07/23/21		12,019
	4,500,000		Capital One Bank USA NA		3.375		02/15/23		4,558
	8,425,000		Citigroup, Inc		1.300		11/15/16		8,437
	9,300,000		Citigroup, Inc		2.550		04/08/19		9,481
	11,000,000		Citigroup, Inc		3.875		10/25/23		11,611
	12,050,000		Citigroup, Inc		3.750		06/16/24		12,624
	10,525,000		Citigroup, Inc		5.300		05/06/44		11,832
	10,000,000	i	Citigroup, Inc		5.350		12/30/49		9,675
	6,875,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		7,117
	8,650,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		4.625		12/01/23		9,351
	10,900,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		5.750		12/01/43		13,549
	6,600,000	g	Credit Agricole S.A.		4.375		03/17/25		6,674
	2,800,000	g	DBS Group Holdings Ltd		2.246		07/16/19		2,832
	16,351,000		Deutsche Bank AG		3.700		05/30/24		16,760
	5,980,000		Eksportfinans ASA		2.375		05/25/16		6,001
	2,300,000	g	Export Credit Bank of Turkey		5.000		09/23/21		2,306
	12,850,000		Fifth Third Bancorp		2.375		04/25/19		13,037
	4,200,000	g	Hana Bank		4.375		09/30/24		4,475
	8,700,000	g	HSBC Bank plc		1.500		05/15/18		8,695
	7,350,000	g	HSBC Bank plc		4.125		08/12/20		8,013
	1,550,000		HSBC Holdings plc		4.000		03/30/22		1,667
	12,250,000		HSBC Holdings plc		4.250		03/14/24		12,854
	2,100,000		HSBC Holdings plc		6.500		09/15/37		2,680
	5,000,000		HSBC USA, Inc		1.625		01/16/18		5,003
	7,150,000		HSBC USA, Inc		2.250		06/23/19		7,207
	12,000,000		HSBC USA, Inc		2.375		11/13/19		12,107

315

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	13,300,000		HSBC USA, Inc		2.350	%	03/05/20	$	13,379
	17,000,000		JPMorgan Chase & Co		3.875		02/01/24		17,983
	9,400,000		JPMorgan Chase & Co		4.850		02/01/44		10,728
	3,750,000	i	JPMorgan Chase & Co		5.150		12/30/49		3,661
	9,550,000		KeyBank NA		2.500		12/15/19		9,734
	6,625,000		KeyBank NA		2.250		03/16/20		6,671
	4,475,000	g	Macquarie Bank Ltd		2.600		06/24/19		4,538
	9,950,000		Manufacturers & Traders Trust Co		2.100		02/06/20		9,970
	1,500,000	g,i	Oversea-Chinese Banking Corp Ltd		4.000		10/15/24		1,564
	6,225,000	g	PKO Finance AB		4.630		09/26/22		6,583
	10,400,000		PNC Bank NA		2.200		01/28/19		10,534
	11,475,000		PNC Bank NA		2.250		07/02/19		11,634
	10,950,000		PNC Bank NA		2.700		11/01/22		10,898
	17,395,000		PNC Bank NA		2.950		01/30/23		17,456
	6,000,000		PNC Financial Services Group, Inc		3.900		04/29/24		6,285
	4,900,000	g,i	Rabobank Nederland NV		11.000		12/30/49		6,309
	12,000,000		Royal Bank of Canada		1.200		09/19/17		12,004
	11,300,000		Royal Bank of Canada		2.200		07/27/18		11,542
	40,000,000		Royal Bank of Canada		1.875		02/05/20		40,075
	15,000,000	g	Skandinaviska Enskilda Banken AB		1.375		05/29/18		15,004
	2,355,000	g	Sumitomo Mitsui Banking Corp		3.150		07/22/15		2,373
	3,800,000		Sumitomo Mitsui Banking Corp		2.500		07/19/18		3,883
	6,650,000		Sumitomo Mitsui Banking Corp		2.450		01/16/20		6,731
	5,700,000		SunTrust Bank		2.750		05/01/23		5,663
	495,000		Toronto-Dominion Bank		2.500		07/14/16		506
	16,500,000	g	Toronto-Dominion Bank		1.625		09/14/16		16,714
	70,000,000	g	Toronto-Dominion Bank		1.500		03/13/17		70,734
	7,650,000		Toronto-Dominion Bank		1.125		05/02/17		7,667
	13,300,000	g	Toronto-Dominion Bank		1.950		04/02/20		13,353
	1,325,000	g	Turkiye Garanti Bankasi AS.		4.750		10/17/19		1,334
	1,700,000	g	Turkiye Halk Bankasi AS.		4.750		06/04/19		1,698
	2,350,000	g	Turkiye Is Bankasi		3.750		10/10/18		2,304
	2,775,000	g	Turkiye Is Bankasi		5.500		04/21/19		2,861
	7,100,000		Union Bank NA		2.125		06/16/17		7,203
	5,700,000		UnionBanCal Corp		3.500		06/18/22		5,957
	5,800,000		US Bancorp		1.650		05/15/17		5,879
	17,650,000		US Bank NA		2.800		01/27/25		17,643
	5,700,000		Westpac Banking Corp		3.000		08/04/15		5,749
	15,000,000	g	Westpac Banking Corp		1.850		11/26/18		15,156
	10,850,000		Westpac Banking Corp		2.250		01/17/19		11,059
			TOTAL BANKS						923,097
CAPITAL GOODS - 0.9%
	2,275,000	g	Alpek S.A. de C.V.		4.500		11/20/22		2,327
	5,750,000		Caterpillar Financial Services Corp		2.250		12/01/19		5,836
	5,700,000		Caterpillar Financial Services Corp		3.250		12/01/24		5,906
	12,050,000		Caterpillar, Inc		1.500		06/26/17		12,206
	8,000,000		Deere & Co		2.600		06/08/22		8,031
	6,350,000	g	EADS Finance BV		2.700		04/17/23		6,378
	2,075,000		Eaton Corp		4.000		11/02/32		2,182
	675,000	g	Gold Fields Orogen Holding BVI Ltd		4.875		10/07/20		599
	1,300,000	g	Huntington Ingalls Industries, Inc		5.000		12/15/21		1,355
	4,250,000		Ingersoll-Rand Luxembourg Finance S.A.		3.550		11/01/24		4,321

316

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	17,675,000		John Deere Capital Corp		1.950	%	03/04/19	$	17,850
	1,376,050	g	Odebrecht Offshore Drilling Finance Ltd		6.625		10/01/22		1,053
	8,375,000		Raytheon Co		4.200		12/15/44		8,974
	4,925,000		Rockwell Automation, Inc		2.050		03/01/20		4,973
	4,995,000		Rockwell Automation, Inc		2.875		03/01/25		5,035
	1,250,000	g	Schaeffler Finance BV		4.750		05/15/21		1,263
	1,370,000	g	Sealed Air Corp		5.250		04/01/23		1,428
	12,950,000	g	Timken Co		3.875		09/01/24		13,186
	7,000,000	g	TSMC Global Ltd		1.625		04/03/18		6,938
	1,750,000	g	Tupy Overseas S.A.		6.625		07/17/24		1,680
	8,950,000		United Technologies Corp		1.800		06/01/17		9,113
	5,950,000		United Technologies Corp		4.500		06/01/42		6,600
			TOTAL CAPITAL GOODS						127,234
COMMERCIAL & PROFESSIONAL SERVICES - 0.6%
	1,425,000		ADT Corp		4.125		04/15/19		1,452
	1,425,000		ADT Corp		6.250		10/15/21		1,518
	1,250,000	g	AECOM Technology Corp		5.750		10/15/22		1,294
	4,875,000	g	AECOM Technology Corp		5.875		10/15/24		5,119
	7,175,000		Air Lease Corp		3.875		04/01/21		7,390
	7,250,000		Fluor Corp		3.500		12/15/24		7,474
	3,300,000	g	HPHT Finance 15 Ltd		2.250		03/17/18		3,311
	10,290,000		Republic Services, Inc		3.800		05/15/18		10,908
	5,375,000		Republic Services, Inc		3.550		06/01/22		5,624
	6,625,000		Republic Services, Inc		3.200		03/15/25		6,653
	2,000,000		United Rentals North America, Inc		4.625		07/15/23		2,022
	7,150,000		Waste Management, Inc		2.600		09/01/16		7,280
	15,050,000		Waste Management, Inc		2.900		09/15/22		15,158
	2,000,000		Waste Management, Inc		3.900		03/01/35		2,050
	2,225,000		Waste Management, Inc		4.100		03/01/45		2,274
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						79,527
CONSUMER DURABLES & APPAREL - 0.2%
	1,250,000	g	Controladora Mabe S.A. de C.V.		7.875		10/28/19		1,416
	9,600,000		DR Horton, Inc		3.750		03/01/19		9,720
	3,000,000		Lennar Corp		4.500		11/15/19		3,082
	6,900,000		PVH Corp		4.500		12/15/22		7,004
	2,625,000		Whirlpool Corp		3.700		03/01/23		2,708
			TOTAL CONSUMER DURABLES & APPAREL						23,930
CONSUMER SERVICES - 0.9%
	4,000,000	g	1011778 BC / New Red Fin		6.000		04/01/22		4,145
	850,000		ARAMARK Corp		5.750		03/15/20		888
	2,475,000		GLP Capital LP		4.375		11/01/18		2,543
	5,000,000		Johns Hopkins University		4.083		07/01/53		5,297
	8,000,000		President and Fellows of Harvard College		3.529		10/01/31		8,214
	14,250,000		President and Fellows of Harvard College		3.619		10/01/37		14,835
	11,650,000	g	SABMiller Holdings, Inc		3.750		01/15/22		12,255
	6,475,000		Service Corp International		5.375		05/15/24		6,766
	800,000	g	Six Flags Entertainment Corp		5.250		01/15/21		822
	40,000,000		Stanford University		4.013		05/01/42		44,373
	21,000,000		University of Chicago		4.151		10/01/45		21,381
			TOTAL CONSUMER SERVICES						121,519

317

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
DIVERSIFIED FINANCIALS - 4.8%
$	3,875,000		Abbey National Treasury Services plc		4.000	%	04/27/16	$	3,995
	2,000,000		American Express Centurion Bank		6.000		09/13/17		2,219
	9,275,000		American Express Credit Corp		1.300		07/29/16		9,327
	2,650,000		American Express Credit Corp		2.125		07/27/18		2,701
	5,550,000		American Express Credit Corp		2.250		08/15/19		5,630
	6,250,000	i	Bank of New York Mellon Corp		1.969		06/20/17		6,366
	4,125,000		Bank of New York Mellon Corp		5.450		05/15/19		4,699
	11,550,000	g	Bayer US Finance LLC		2.375		10/08/19		11,750
	8,100,000	g	Bayer US Finance LLC		3.375		10/08/24		8,439
	2,500,000	g	BBVA Bancomer S.A.		6.750		09/30/22		2,827
	2,400,000	g,i	BBVA Bancomer S.A.		5.350		11/12/29		2,388
	15,000,000		BlackRock, Inc		1.375		06/01/15		15,022
	5,650,000		BlackRock, Inc		3.500		03/18/24		5,982
	10,680,000	g	Caisse Centrale Desjardins du Quebec		2.550		03/24/16		10,879
	24,600,000	g	Caisse Centrale Desjardins du Quebec		1.600		03/06/17		24,895
	10,100,000		Capital One Financial Corp		1.000		11/06/15		10,112
	2,800,000	g	Comcel Trust		6.875		02/06/24		2,983
	3,700,000		Countrywide Financial Corp		6.250		05/15/16		3,892
	7,175,000		Credit Suisse		2.300		05/28/19		7,248
	5,675,000		Credit Suisse		3.000		10/29/21		5,780
	10,000,000	g	FMR LLC		4.950		02/01/33		11,191
	11,425,000	g	FMR LLC		5.150		02/01/43		13,242
	6,660,000		Ford Motor Credit Co LLC		4.250		02/03/17		6,992
	3,340,000		Ford Motor Credit Co LLC		6.625		08/15/17		3,709
	6,600,000		Ford Motor Credit Co LLC		2.375		03/12/19		6,677
	17,000,000		General Electric Capital Corp		1.625		07/02/15		17,052
	4,050,000		General Electric Capital Corp		2.200		01/09/20		4,095
	30,000,000		General Electric Capital Corp		3.100		01/09/23		30,900
	5,000,000		General Electric Capital Corp		6.150		08/07/37		6,638
	375,000		General Electric Capital Corp		6.875		01/10/39		540
	3,900,000		General Motors Financial Co, Inc		4.375		09/25/21		4,154
	19,240,000		Goldman Sachs Group, Inc		3.300		05/03/15		19,273
	11,075,000		Goldman Sachs Group, Inc		2.375		01/22/18		11,300
	10,500,000		Goldman Sachs Group, Inc		2.625		01/31/19		10,728
	8,900,000		Goldman Sachs Group, Inc		2.600		04/23/20		8,995
	7,800,000		Goldman Sachs Group, Inc		3.625		01/22/23		8,068
	23,975,000		Goldman Sachs Group, Inc		3.500		01/23/25		24,445
	1,150,000		Goldman Sachs Group, Inc		6.450		05/01/36		1,438
	3,100,000		Goldman Sachs Group, Inc		6.750		10/01/37		4,071
	300,000		Goldman Sachs Group, Inc		6.250		02/01/41		391
	15,125,000		Goldman Sachs Group, Inc		4.800		07/08/44		16,800
	9,599,000		HSBC Finance Corp		6.676		01/15/21		11,398
	6,100,000	g	Hyundai Capital America		2.600		03/19/20		6,165
	2,750,000	g	Hyundai Capital Services, Inc		3.500		09/13/17		2,852
	1,425,000		Icahn Enterprises LP		4.875		03/15/19		1,452
	1,725,000		Icahn Enterprises LP		5.875		02/01/22		1,777
	4,800,000	g	ICICI Bank Ltd		3.500		03/18/20		4,936
	800,000		Indian Railway Finance Corp Ltd		3.917		02/26/19		835
	9,250,000		International Lease Finance Corp		5.750		05/15/16		9,615
	8,400,000		International Lease Finance Corp		3.875		04/15/18		8,526
	3,200,000		International Lease Finance Corp		5.875		04/01/19		3,472

318

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	5,000,000		International Lease Finance Corp		5.875	%	08/15/22	$	5,550
	1,625,000		Legg Mason, Inc		2.700		07/15/19		1,655
	2,400,000		Legg Mason, Inc		3.950		07/15/24		2,504
	4,125,000	g	Lukoil International Finance BV		3.416		04/24/18		3,798
	3,745,000	g	Lukoil International Finance BV		6.125		11/09/20		3,605
	10,300,000		Morgan Stanley		1.750		02/25/16		10,366
	21,500,000		Morgan Stanley		1.875		01/05/18		21,644
	8,825,000		Morgan Stanley		2.650		01/27/20		8,964
	6,800,000		Morgan Stanley		3.750		02/25/23		7,127
	2,400,000		Morgan Stanley		3.875		04/29/24		2,524
	24,800,000		Morgan Stanley		3.700		10/23/24		25,856
	8,000,000		Morgan Stanley		4.350		09/08/26		8,386
	7,250,000		Morgan Stanley		6.375		07/24/42		9,670
	3,800,000		National Rural Utilities Cooperative Finance Corp		10.375		11/01/18		4,923
	6,500,000	g	Nederlandse Waterschapsbank NV		1.875		03/13/19		6,619
	4,000,000	g	Reliance Holdings USA		4.500		10/19/20		4,269
	1,725,000	g	SUAM Finance BV		4.875		04/17/24		1,785
	48,599,798		Tagua Leasing LLC		1.900		07/12/24		48,464
	2,075,000		Textron, Inc		3.875		03/01/25		2,144
	5,186,000		Toyota Motor Credit Corp		1.375		01/10/18		5,203
	16,625,000		Toyota Motor Credit Corp		2.150		03/12/20		16,779
	9,125,000		Unilever Capital Corp		2.200		03/06/19		9,321
	2,000,000		Unilever Capital Corp		4.250		02/10/21		2,244
	12,500,000		Wells Fargo & Co		1.500		07/01/15		12,533
	15,000,000		Wells Fargo & Co		3.000		02/19/25		15,065
	10,650,000		Wells Fargo & Co		4.100		06/03/26		11,221
			TOTAL DIVERSIFIED FINANCIALS						661,080
ENERGY - 2.8%
	7,950,000		Anadarko Petroleum Corp		5.950		09/15/16		8,480
	2,445,000		Anadarko Petroleum Corp		6.950		06/15/19		2,885
	3,650,000		Apache Corp		1.750		04/15/17		3,679
	3,750,000		Ashland, Inc		3.875		04/15/18		3,844
	6,650,000		Ashland, Inc		4.750		08/15/22		6,750
	16,500,000		BP Capital Markets plc		1.375		05/10/18		16,423
	13,300,000		BP Capital Markets plc		2.315		02/13/20		13,412
	3,000,000	g	California Resources Corp		5.000		01/15/20		2,707
	2,080,000	g	California Resources Corp		6.000		11/15/24		1,823
	2,600,000	i	Chesapeake Energy Corp		3.503		04/15/19		2,503
	6,250,000		Chevron Corp		2.355		12/05/22		6,174
	5,475,000		Concho Resources, Inc		5.500		04/01/23		5,516
	8,800,000		ConocoPhillips Co		3.350		11/15/24		9,068
	2,075,000		Continental Resources, Inc		5.000		09/15/22		2,046
	3,150,000		Devon Energy Corp		4.750		05/15/42		3,369
	5,850,000		Ecopetrol S.A.		4.125		01/16/25		5,601
	1,000,000		Ecopetrol S.A.		5.875		05/28/45		938
	3,250,000		Enbridge Energy Partners LP		5.200		03/15/20		3,582
	10,450,000		Enterprise Products Operating LLC		3.750		02/15/25		10,809
	7,500,000		Enterprise Products Operating LLC		5.100		02/15/45		8,403
	1,950,000		EOG Resources, Inc		2.625		03/15/23		1,948
	7,975,000		EOG Resources, Inc		3.150		04/01/25		8,133
	5,000,000		EP Energy LLC		6.875		05/01/19		5,125
	2,250,000		Exterran Partners LP		6.000		10/01/22		2,048

319

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	12,325,000		Exxon Mobil Corp		1.912	%	03/06/20	$	12,445
	3,075,000		Exxon Mobil Corp		2.709		03/06/25		3,106
	6,575,000		Exxon Mobil Corp		3.567		03/06/45		6,818
	2,739,000		Husky Energy, Inc		3.950		04/15/22		2,783
	1,900,000	g	Indo Energy Finance II BV		6.375		01/24/23		1,254
	1,000,000	g	KMG Finance Sub BV		6.375		04/09/21		997
	5,530,000		Marathon Petroleum Corp		3.500		03/01/16		5,650
	850,000		Marathon Petroleum Corp		3.625		09/15/24		860
	4,240,000		MarkWest Energy Partners LP		5.500		02/15/23		4,357
	3,950,000		Noble Energy, Inc		3.900		11/15/24		4,019
	1,850,000		Noble Energy, Inc		5.250		11/15/43		1,934
	1,625,000		Noble Energy, Inc		5.050		11/15/44		1,705
	2,475,000		Noble Holding International Ltd		3.450		08/01/15		2,485
	3,050,000		Noble Holding International Ltd		4.000		03/16/18		3,066
	7,550,000		Noble Holding International Ltd		4.900		08/01/20		7,314
	4,325,000	g	Oleoducto Central SA		4.000		05/07/21		4,306
	10,850,000		ONE Gas, Inc		2.070		02/01/19		10,993
	3,500,000		ONE Gas, Inc		3.610		02/01/24		3,750
	2,000,000	g	Pacific Rubiales Energy Corp		5.625		01/19/25		1,176
	800,000		Pemex Project Funding Master Trust		5.750		03/01/18		879
	4,000,000		Pemex Project Funding Master Trust		6.625		06/15/35		4,580
	2,000,000	g	Pertamina Persero PT		4.875		05/03/22		2,083
	3,550,000	g	Pertamina Persero PT		4.300		05/20/23		3,559
	1,850,000	i	Petrobras Global Finance BV		1.881		05/20/16		1,748
	2,000,000		Petrobras Global Finance BV		3.250		03/17/17		1,845
	2,000,000	i	Petrobras Global Finance BV		2.393		01/15/19		1,733
	810,000		Petrobras Global Finance BV		4.375		05/20/23		693
	2,650,000		Petrobras Global Finance BV		6.250		03/17/24		2,498
	2,080,000		Petrobras International Finance Co		3.875		01/27/16		2,040
	3,000,000		Petrobras International Finance Co		3.500		02/06/17		2,808
	4,350,000		Petroleos Mexicanos		3.500		07/18/18		4,524
	2,900,000		Petroleos Mexicanos		8.000		05/03/19		3,469
	2,400,000	g	Petroleos Mexicanos		3.500		07/23/20		2,454
	1,500,000		Petroleos Mexicanos		4.875		01/24/22		1,592
	16,000,000		Petroleos Mexicanos		1.950		12/20/22		16,073
	8,560,000		Petroleos Mexicanos		2.000		12/20/22		8,637
	2,250,000	g	Petroleos Mexicanos		4.500		01/23/26		2,293
	2,180,000		Petroleos Mexicanos		5.500		06/27/44		2,199
	2,187,500		Petroleum Co of Trinidad & Tobago Ltd		6.000		05/08/22		2,268
	2,000,000	g	Petronas Capital Ltd		3.125		03/18/22		2,015
	2,500,000	g	Petronas Capital Ltd		3.500		03/18/25		2,531
	5,775,000		Phillips 66		4.875		11/15/44		6,185
	614,000		Pioneer Natural Resources Co		7.500		01/15/20		729
	10,575,000		Plains All American Pipeline LP		3.600		11/01/24		10,617
	2,674,000		Precision Drilling Trust		6.625		11/15/20		2,520
	1,250,000		Questar Market Resources, Inc		6.875		03/01/21		1,328
	3,335,000		Range Resources Corp		5.000		08/15/22		3,318
	1,425,000		Regency Energy Partners LP		5.875		03/01/22		1,546
	2,250,000	g	Reliance Industries Ltd		4.125		01/28/25		2,269
	6,000,000		Shell International Finance BV		2.375		08/21/22		5,978
	4,900,000		Southwestern Energy Co		4.050		01/23/20		5,063
	4,405,000		Southwestern Energy Co		4.100		03/15/22		4,334
	2,075,000		Statoil ASA		1.200		01/17/18		2,069

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	5,300,000		Statoil ASA		2.450	%	01/17/23	$	5,215
	8,875,000		Statoil ASA		4.250		11/23/41		9,513
	5,700,000		Suncor Energy, Inc		3.600		12/01/24		5,824
	3,500,000		Talisman Energy, Inc		3.750		02/01/21		3,444
	2,000,000	g	Targa Resources Partners LP		5.000		01/15/18		2,060
	2,000,000		Tesoro Corp		5.125		04/01/24		2,040
	1,000,000		Total Capital International S.A.		1.000		01/10/17		1,004
	6,100,000		Total Capital International S.A.		1.500		02/17/17		6,175
	3,400,000		TransCanada PipeLines Ltd		5.850		03/15/36		4,082
	2,750,000	i	TransCanada PipeLines Ltd		6.350		05/15/67		2,668
	800,000	g	Ultra Petroleum Corp		5.750		12/15/18		722
	2,750,000	g	Ultra Petroleum Corp		6.125		10/01/24		2,358
	1,000,000		Vale Overseas Ltd		4.375		01/11/22		961
	2,760,000		Vale Overseas Ltd		6.875		11/21/36		2,669
	2,490,000		Whiting Petroleum Corp		5.750		03/15/21		2,471
	2,400,000		WPX Energy, Inc		5.250		09/15/24		2,111
			TOTAL ENERGY						386,078
FOOD & STAPLES RETAILING - 0.3%
	5,690,000		CVS Caremark Corp		3.250		05/18/15		5,709
	7,625,000		CVS Caremark Corp		4.000		12/05/23		8,265
	8,425,000		CVS Caremark Corp		3.375		08/12/24		8,737
	4,900,000		Ingles Markets, Inc		5.750		06/15/23		5,084
	7,300,000		Kroger Co		2.950		11/01/21		7,442
			TOTAL FOOD & STAPLES RETAILING						35,237
FOOD, BEVERAGE & TOBACCO - 0.9%
	4,916,000	g	Anadolu Efes Biracilik Ve Malt Sanayii AS.		3.375		11/01/22		4,373
	6,300,000		Anheuser-Busch InBev Worldwide, Inc		2.875		02/15/16		6,425
	10,575,000		Anheuser-Busch InBev Worldwide, Inc		1.375		07/15/17		10,638
	24,650,000		Anheuser-Busch InBev Worldwide, Inc		2.500		07/15/22		24,319
	9,400,000		Diageo Capital plc		2.625		04/29/23		9,350
	2,000,000	g	Embotelladora Andina S.A.		5.000		10/01/23		2,196
	7,600,000		Fomento Economico Mexicano SAB de C.V.		2.875		05/10/23		7,289
	6,050,000		General Mills, Inc		2.200		10/21/19		6,101
	6,250,000	g	Gruma SAB de C.V.		4.875		12/01/24		6,602
	5,525,000	g	Grupo Bimbo SAB de C.V.		4.500		01/25/22		5,957
	3,875,000	g	JM Smucker Co		3.500		03/15/25		3,983
	3,650,000		Kraft Foods Group, Inc		5.000		06/04/42		4,058
	3,075,000		Mondelez International, Inc		4.125		02/09/16		3,158
	6,200,000		Mondelez International, Inc		4.000		02/01/24		6,734
	680,000		PepsiCo, Inc		7.900		11/01/18		824
	5,100,000		PepsiCo, Inc		4.250		10/22/44		5,438
	2,000,000	g	Pernod-Ricard S.A.		2.950		01/15/17		2,057
	6,850,000	g	Pernod-Ricard S.A.		4.250		07/15/22		7,383
	8,800,000		Philip Morris International, Inc		3.250		11/10/24		9,034
	1,600,000		Philip Morris International, Inc		6.375		05/16/38		2,121
	1,125,000		TreeHouse Foods, Inc		4.875		03/15/22		1,147
	3,650,000		Tyson Foods, Inc		3.950		08/15/24		3,856
	2,150,000		Tyson Foods, Inc		4.875		08/15/34		2,424
			TOTAL FOOD, BEVERAGE & TOBACCO						135,467

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
HEALTH CARE EQUIPMENT & SERVICES - 1.2%
$	7,290,000		Baxter International, Inc		3.200	%	06/15/23	$	7,395
	3,900,000		Becton Dickinson & Co		1.750		11/08/16		3,942
	2,425,000		Becton Dickinson & Co		3.734		12/15/24		2,540
	5,775,000		Becton Dickinson & Co		4.685		12/15/44		6,313
	2,325,000		CHS/Community Health Systems		5.125		08/15/18		2,398
	7,150,000		Covidien International Finance S.A.		1.350		05/29/15		7,160
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		3,946
	6,850,000		Express Scripts Holding Co		3.900		02/15/22		7,273
	4,500,000	g	Fresenius Medical Care Capital Trust		5.750		02/15/21		4,928
	4,000,000	g	Fresenius Medical Care II		5.625		07/31/19		4,342
	4,560,000		HCA, Inc		6.500		02/15/20		5,135
	4,575,000		HCA, Inc		5.875		03/15/22		5,055
	2,775,000		Laboratory Corp of America Holdings		2.625		02/01/20		2,792
	4,650,000		Laboratory Corp of America Holdings		3.600		02/01/25		4,669
	3,500,000		Mallinckrodt International Finance S.A.		3.500		04/15/18		3,448
	10,450,000		McKesson Corp		4.883		03/15/44		11,994
	10,125,000	g	Medtronic, Inc		2.500		03/15/20		10,344
	8,450,000	g	Medtronic, Inc		3.500		03/15/25		8,841
	9,625,000	g	Medtronic, Inc		4.625		03/15/45		10,911
	7,100,000		Owens & Minor, Inc		3.875		09/15/21		7,427
	8,325,000		Quest Diagnostics, Inc		3.500		03/30/25		8,339
	2,000,000		Tenet Healthcare Corp		4.375		10/01/21		1,955
	1,695,000		Thermo Fisher Scientific, Inc		3.200		05/01/15		1,698
	6,125,000		Thermo Fisher Scientific, Inc		2.250		08/15/16		6,229
	2,700,000		Thermo Fisher Scientific, Inc		2.400		02/01/19		2,738
	3,100,000		Thermo Fisher Scientific, Inc		3.300		02/15/22		3,179
	4,325,000		Thermo Fisher Scientific, Inc		3.150		01/15/23		4,383
	10,100,000		Zimmer Holdings, Inc		2.700		04/01/20		10,241
	10,975,000		Zimmer Holdings, Inc		3.550		04/01/25		11,194
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						170,809
HOUSEHOLD & PERSONAL PRODUCTS - 0.2%
	7,175,000		Clorox Co		3.800		11/15/21		7,746
	5,725,000		Clorox Co		3.500		12/15/24		5,827
	4,525,000		Ecolab, Inc		1.450		12/08/17		4,523
	9,800,000		Ecolab, Inc		2.250		01/12/20		9,861
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						27,957
INSURANCE - 1.9%
	1,925,000		Aetna, Inc		6.625		06/15/36		2,600
	6,200,000		Allstate Corp		3.150		06/15/23		6,404
	6,200,000		Allstate Corp		4.500		06/15/43		7,054
	7,825,000		American International Group, Inc		2.300		07/16/19		7,941
	16,425,000		American International Group, Inc		4.500		07/16/44		17,633
	19,230,000		Children’s Hospital Medic		4.268		05/15/44		20,445
	1,000,000		CHS/Community Health Systems		5.125		08/01/21		1,030
	3,750,000		Chubb Corp		6.000		05/11/37		5,025
	1,390,000		Cigna Corp		5.125		06/15/20		1,589
	6,900,000		Cigna Corp		4.500		03/15/21		7,747
	4,900,000		Cigna Corp		3.250		04/15/25		4,999
	21,975,000	g	Five Corners Funding Trust		4.419		11/15/23		23,575
	4,500,000		Hartford Financial Services Group, Inc		4.000		10/15/17		4,791
	2,800,000		Lincoln National Corp		7.000		06/15/40		3,876

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,750,000	g,i	Merna Reinsurance IV Ltd		2.520	%	04/08/16	$	1,756
	5,250,000	g	MetLife Institutional Funding II		1.625		04/02/15		5,250
	7,675,000		MetLife, Inc		6.750		06/01/16		8,191
	2,000,000		MetLife, Inc		4.368		09/15/23		2,221
	10,000,000		MetLife, Inc		3.000		03/01/25		10,022
	9,500,000		MetLife, Inc		4.721		12/15/44		10,781
	11,050,000		MetLife, Inc		4.050		03/01/45		11,365
	2,825,000		Principal Financial Group, Inc		1.850		11/15/17		2,849
	5,000,000		Progressive Corp		3.750		08/23/21		5,426
	8,050,000		Prudential Financial, Inc		7.375		06/15/19		9,748
	8,000,000		Prudential Financial, Inc		5.400		06/13/35		9,427
	7,775,000		Prudential Financial, Inc		5.100		08/15/43		8,736
	8,650,000	i	Prudential Financial, Inc		5.200		03/15/44		8,806
	3,000,000	g	Prudential Funding LLC		6.750		09/15/23		3,736
	2,425,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		2,421
	6,100,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		6,526
	4,250,000		Travelers Cos, Inc		5.800		05/15/18		4,799
	7,875,000		UnitedHealth Group, Inc		0.850		10/15/15		7,891
	6,000,000		UnitedHealth Group, Inc		1.400		10/15/17		6,057
	6,750,000		WellPoint, Inc		3.125		05/15/22		6,843
	7,850,000		WellPoint, Inc		4.625		05/15/42		8,510
	7,000,000		Willis Group Holdings plc		4.125		03/15/16		7,182
	2,400,000		WR Berkley Corp		5.375		09/15/20		2,714
			TOTAL INSURANCE						265,966
MATERIALS - 1.8%
	6,630,000		Air Products & Chemicals, Inc		4.375		08/21/19		7,282
	2,225,000		Alcoa, Inc		5.125		10/01/24		2,381
	2,000,000		AngloGold Ashanti Holdings plc		5.125		08/01/22		1,885
	1,365,000		Ball Corp		5.000		03/15/22		1,426
	11,750,000		Barrick North America Finance LLC		4.400		05/30/21		12,067
	3,417,000		BHP Billiton Finance USA Ltd		5.000		09/30/43		3,914
	1,300,000		Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		1,331
	2,300,000	g	Cemex Finance LLC		6.000		04/01/24		2,294
	900,000	g	Cemex SAB de C.V.		5.700		01/11/25		888
	200,000	g	Cemex SAB de C.V.		6.125		05/05/25		202
	3,175,000		CF Industries, Inc		7.125		05/01/20		3,826
	3,550,000		Corning, Inc		1.450		11/15/17		3,565
	1,600,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.875		11/03/21		1,687
	1,275,000	g	Corp Nacional del Cobre de Chile-CODELCO		4.875		11/04/44		1,334
	7,925,000		Crown Americas LLC		6.250		02/01/21		8,351
	1,390,000		Crown Americas LLC		4.500		01/15/23		1,402
	7,850,000		Dow Chemical Co		3.500		10/01/24		7,972
	1,000,000		Eastman Chemical Co		5.500		11/15/19		1,131
	5,450,000		Eastman Chemical Co		3.800		03/15/25		5,652
	6,000,000		EI du Pont de Nemours & Co		4.625		01/15/20		6,699
	8,775,000	g	Georgia-Pacific LLC		2.539		11/15/19		8,896
	26,775,000	g	Glencore Funding LLC		2.500		01/15/19		26,788
	6,450,000	g	Glencore Funding LLC		4.625		04/29/24		6,688
	23,166,000		International Paper Co		4.750		02/15/22		25,610
	3,650,000		International Paper Co		4.800		06/15/44		3,755
	1,800,000	g	Israel Chemicals Ltd		4.500		12/02/24		1,829
	2,800,000	g	Klabin Finance S.A.		5.250		07/16/24		2,716

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,000,000		LyondellBasell Industries NV		5.000	%	04/15/19	$	3,308
	5,425,000		LyondellBasell Industries NV		4.625		02/26/55		5,364
	1,400,000	g	Mexichem SAB de C.V.		5.875		09/17/44		1,372
	3,000,000		Monsanto Co		2.200		07/15/22		2,911
	2,300,000		Monsanto Co		4.200		07/15/34		2,465
	6,840,000		Nucor Corp		4.000		08/01/23		7,177
	3,800,000	g	OCP S.A.		5.625		04/25/24		4,133
	2,860,000	g	Owens-Brockway Glass Container, Inc		5.375		01/15/25		2,939
	3,150,000		Packaging Corp of America		3.650		09/15/24		3,167
	7,500,000		Rio Tinto Finance USA Ltd		2.250		09/20/16		7,647
	4,550,000		Rio Tinto Finance USA plc		2.250		12/14/18		4,624
	5,000,000		Rock Tenn Co		3.500		03/01/20		5,190
	3,000,000		Rock Tenn Co		4.000		03/01/23		3,158
	5,066,083	g	Samarco Mineracao S.A.		5.375		09/26/24		4,750
	665,000	g	Sealed Air Corp		6.500		12/01/20		740
	12,475,000		Sherwin-Williams Co		1.350		12/15/17		12,491
	1,675,000	g	Steel Dynamics, Inc		5.125		10/01/21		1,685
	4,625,000		Teck Resources Ltd		2.500		02/01/18		4,608
	3,200,000		Teck Resources Ltd		3.750		02/01/23		2,997
	1,940,000		Teck Resources Ltd		6.000		08/15/40		1,846
	3,950,000		Teck Resources Ltd		5.200		03/01/42		3,489
	1,500,000	g	Turkiye Sise ve Cam Fabrikalari AS.		4.250		05/09/20		1,455
	2,000,000	g	Union Andina de Cementos SAA		5.875		10/30/21		2,022
			TOTAL MATERIALS						241,109
MEDIA - 1.8%
	3,275,000	g	British Sky Broadcasting Group plc		2.625		09/16/19		3,326
	6,750,000		CBS Corp		2.300		08/15/19		6,751
	3,450,000		CBS Corp		4.600		01/15/45		3,515
	4,900,000		CCOH Safari LLC		5.750		12/01/24		5,047
	1,000,000		Cinemark USA, Inc		5.125		12/15/22		1,015
	4,275,000		Cinemark USA, Inc		4.875		06/01/23		4,254
	26,000,000		Comcast Corp		4.250		01/15/33		28,034
	8,800,000		DIRECTV Holdings LLC		4.450		04/01/24		9,398
	3,250,000		DISH DBS Corp		4.250		04/01/18		3,266
	4,250,000		DISH DBS Corp		5.125		05/01/20		4,282
	2,050,000		DISH DBS Corp		5.000		03/15/23		1,993
	2,430,000	g	Gannett Co, Inc		4.875		09/15/21		2,479
	2,925,000	g	Gannett Co, Inc		5.500		09/15/24		3,060
	825,000		Grupo Televisa S.A.		6.000		05/15/18		936
	2,675,000		Grupo Televisa SAB		5.000		05/13/45		2,785
	1,850,000		Lamar Media Corp		5.875		02/01/22		1,947
	2,000,000		Lamar Media Corp		5.000		05/01/23		2,045
	2,000,000		Lamar Media Corp		5.375		01/15/24		2,085
	7,250,000	g	NBC Universal Enterprise, Inc		1.662		04/15/18		7,296
	7,700,000	g	NBC Universal Enterprise, Inc		1.974		04/15/19		7,748
	10,350,000		NBC Universal Media LLC		2.875		01/15/23		10,477
	2,105,000		News America, Inc		7.625		11/30/28		2,854
	1,578,000		News America, Inc		6.550		03/15/33		2,093
	3,575,000		News America, Inc		6.650		11/15/37		4,821
	3,800,000		News America, Inc		6.900		08/15/39		5,255
	8,035,000		Nielsen Finance LLC		4.500		10/01/20		8,176
	4,650,000		Outfront Media Capital LLC		5.250		02/15/22		4,871

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,500,000		Starz LLC		5.000	%	09/15/19	$	3,596
	5,675,000		Time Warner Cable, Inc		5.875		11/15/40		6,788
	5,500,000		Time Warner Cable, Inc		4.500		09/15/42		5,687
	3,000,000		Time Warner, Inc		3.150		07/15/15		3,023
	20,550,000		Time Warner, Inc		2.100		06/01/19		20,654
	3,825,000		Time Warner, Inc		6.500		11/15/36		4,964
	10,525,000		Time Warner, Inc		4.900		06/15/42		11,644
	7,100,000		Time Warner, Inc		4.650		06/01/44		7,649
	1,600,000	g	Time, Inc		5.750		04/15/22		1,564
	7,000,000	g	Univision Communications, Inc		5.125		05/15/23		7,105
	5,400,000		Viacom, Inc		2.500		12/15/16		5,520
	3,000,000		Viacom, Inc		3.500		04/01/17		3,114
	7,375,000		Viacom, Inc		5.850		09/01/43		8,303
			TOTAL MEDIA						229,420
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.1%
	16,625,000		Abbott Laboratories		2.000		03/15/20		16,733
	16,625,000		Abbott Laboratories		2.950		03/15/25		16,822
	3,700,000		Actavis Funding SCS		3.000		03/12/20		3,790
	5,900,000		Actavis Funding SCS		3.800		03/15/25		6,084
	14,325,000		Amgen, Inc		2.200		05/22/19		14,510
	1,100,000	g	Endo Finance LLC		6.000		02/01/25		1,127
	3,575,000		Gilead Sciences, Inc		2.350		02/01/20		3,673
	7,975,000		Gilead Sciences, Inc		3.700		04/01/24		8,516
	3,140,000		Life Technologies Corp		3.500		01/15/16		3,202
	4,115,000		Mead Johnson Nutrition Co		4.900		11/01/19		4,561
	9,675,000		Merck & Co, Inc		1.850		02/10/20		9,728
	3,725,000		Mylan, Inc		2.550		03/28/19		3,744
	3,500,000	g	Mylan, Inc		7.875		07/15/20		3,698
	2,925,000		Perrigo Co plc		4.000		11/15/23		3,056
	12,200,000		Perrigo Finance plc		3.500		12/15/21		12,624
	9,725,000		Perrigo Finance plc		3.900		12/15/24		10,076
	2,850,000		Perrigo Finance plc		4.900		12/15/44		3,054
	13,850,000	g	Roche Holdings, Inc		2.250		09/30/19		14,053
	11,075,000	g	Roche Holdings, Inc		3.350		09/30/24		11,615
	1,675,000	g	Valeant Pharmaceuticals International, Inc		5.500		03/01/23		1,694
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						152,360
REAL ESTATE - 0.8%
	2,310,000		AMB Property LP		4.500		08/15/17		2,473
	5,575,000		Brandywine Operating Partnership LP		4.100		10/01/24		5,670
	3,965,000		Camden Property Trust		4.625		06/15/21		4,347
	3,000,000		Camden Property Trust		2.950		12/15/22		2,939
	5,175,000		DCT Industrial Operating Partnership LP		4.500		10/15/23		5,506
	6,800,000		Developers Diversified Realty Corp		4.750		04/15/18		7,319
	3,460,000		Developers Diversified Realty Corp		7.875		09/01/20		4,312
	2,750,000		Equity One, Inc		3.750		11/15/22		2,791
	2,754,000		Essex Portfolio LP		3.375		01/15/23		2,784
	700,000		Federal Realty Investment Trust		5.900		04/01/20		815
	2,775,000		Healthcare Realty Trust, Inc		5.750		01/15/21		3,135
	1,625,000		Healthcare Realty Trust, Inc		3.750		04/15/23		1,628
	3,700,000		Healthcare Trust of America Holdings LP		3.375		07/15/21		3,756
	3,550,000		Healthcare Trust of America Holdings LP		3.700		04/15/23		3,556

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,600,000		Highwoods Realty LP		5.850	%	03/15/17	$	1,726
	9,205,000		Kilroy Realty LP		3.800		01/15/23		9,430
	6,400,000		Liberty Property LP		4.125		06/15/22		6,697
	3,600,000		Mid-America Apartments LP		4.300		10/15/23		3,846
	5,525,000		Mid-America Apartments LP		3.750		06/15/24		5,661
	3,600,000		National Retail Properties, Inc		3.800		10/15/22		3,732
	5,425,000		National Retail Properties, Inc		3.300		04/15/23		5,418
	2,325,000		Regency Centers LP		5.250		08/01/15		2,358
	225,000		Regency Centers LP		5.875		06/15/17		246
	4,150,000		Simon Property Group LP		2.800		01/30/17		4,269
	3,040,000		Simon Property Group LP		10.350		04/01/19		3,941
	1,360,000		Ventas Realty LP		3.125		11/30/15		1,379
	1,015,000		Ventas Realty LP		3.250		08/15/22		1,018
	3,150,000		Ventas Realty LP		3.750		05/01/24		3,236
	1,170,000		Weingarten Realty Investors		3.375		10/15/22		1,168
	4,800,000		Weingarten Realty Investors		3.500		04/15/23		4,823
	3,025,000		Weingarten Realty Investors		4.450		01/15/24		3,223
			TOTAL REAL ESTATE						113,202
RETAILING - 0.6%
	5,850,000		AmeriGas Finance LLC		3.750		05/01/21		5,982
	2,500,000	g	Golden Eagle Retail Group Ltd		4.625		05/21/23		2,131
	6,125,000		Home Depot, Inc		2.250		09/10/18		6,326
	11,000,000		Home Depot, Inc		2.000		06/15/19		11,193
	8,750,000		Home Depot, Inc		4.400		03/15/45		9,796
	3,150,000		Limited Brands, Inc		7.000		05/01/20		3,630
	8,075,000		Macy’s Retail Holdings, Inc		2.875		02/15/23		8,028
	8,315,000		O’Reilly Automotive, Inc		4.625		09/15/21		9,189
	4,550,000		O’Reilly Automotive, Inc		3.800		09/01/22		4,753
	7,975,000		Priceline Group, Inc		3.650		03/15/25		8,116
	2,475,000		QVC, Inc		5.125		07/02/22		2,631
	4,400,000		QVC, Inc		4.375		03/15/23		4,483
	2,725,000	g	Tiffany & Co		3.800		10/01/24		2,770
			TOTAL RETAILING						79,028
SOFTWARE & SERVICES - 0.4%
	6,600,000		Adobe Systems, Inc		3.250		02/01/25		6,665
	5,000,000	g	Audatex North America, Inc		6.000		06/15/21		5,288
	2,075,000		Equinix, Inc		4.875		04/01/20		2,143
	2,250,000		Equinix, Inc		5.375		01/01/22		2,346
	11,500,000		Fidelity National Information Services, Inc		5.000		03/15/22		12,193
	6,675,000		Microsoft Corp		3.500		02/12/35		6,658
	3,075,000		NCR Corp		4.625		02/15/21		3,079
	525,000		NCR Corp		5.875		12/15/21		547
	1,650,000	g	Open Text Corp		5.625		01/15/23		1,712
	13,825,000		Oracle Corp		3.400		07/08/24		14,533
			TOTAL SOFTWARE & SERVICES						55,164
TECHNOLOGY HARDWARE & EQUIPMENT - 1.1%
	3,475,000		Amphenol Corp		3.125		09/15/21		3,562
	1,975,000		CC Holdings GS V LLC		2.381		12/15/17		1,991
	2,962,000		Flextronics International Ltd		4.625		02/15/20		3,106
	38,125,000		General Electric Co		0.850		10/09/15		38,245

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,300,000		General Electric Co		5.250	%	12/06/17	$	3,642
	8,425,000		General Electric Co		2.700		10/09/22		8,569
	10,325,000		General Electric Co		4.125		10/09/42		10,899
	7,500,000		General Electric Co		4.500		03/11/44		8,420
	10,100,000		Hewlett-Packard Co		2.750		01/14/19		10,355
	3,625,000		Hewlett-Packard Co		3.750		12/01/20		3,802
	13,825,000	g	Keysight Technologies, Inc		4.550		10/30/24		13,930
	2,000,000		L-3 Communications Corp		4.950		02/15/21		2,212
	1,075,000	g	Millicom International Cellular S.A.		6.000		03/15/25		1,071
	3,125,000	g	NXP BV		3.750		06/01/18		3,188
	5,000,000		Scientific Games International, Inc		6.250		09/01/20		3,725
	8,900,000		Seagate HDD Cayman		4.750		06/01/23		9,354
	4,850,000	g	Seagate HDD Cayman		4.750		01/01/25		5,022
	525,000	g	Sensata Technologies BV		5.625		11/01/24		559
	5,050,000		Tyco Electronics Group S.A.		2.375		12/17/18		5,144
	6,669,000		Tyco Electronics Group S.A.		3.500		02/03/22		6,957
	1,425,000	g	Zebra Technologies Corp		7.250		10/15/22		1,535
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						145,288
TELECOMMUNICATION SERVICES - 2.0%
	1,800,000	g	Alibaba Group Holding Ltd		2.500		11/28/19		1,801
	2,870,000		America Movil SAB de C.V.		2.375		09/08/16		2,917
	1,000,000		America Movil SAB de C.V.		3.125		07/16/22		1,017
	4,350,000		American Tower Corp		3.500		01/31/23		4,312
	1,667,000		AT&T, Inc		2.500		08/15/15		1,678
	21,350,000		AT&T, Inc		1.400		12/01/17		21,233
	8,200,000		AT&T, Inc		2.625		12/01/22		7,986
	6,500,000	g	Bharti Airtel International Netherlands BV		5.125		03/11/23		7,025
	5,525,000		British Telecommunications plc		1.625		06/28/16		5,565
	1,600,000	g	CommScope Holding Co, Inc		5.000		06/15/21		1,598
	2,600,000	g	CommScope Holding Co, Inc		5.500		06/15/24		2,600
	4,000,000	g	Deutsche Telekom International Finance BV		2.250		03/06/17		4,069
	4,000,000		Deutsche Telekom International Finance BV		8.750		06/15/30		6,085
	3,625,000	g	Deutsche Telekom International Finance BV		4.875		03/06/42		4,088
	1,500,000	g	ENTEL Chile S.A.		4.875		10/30/24		1,566
	3,300,000	g	ENTEL Chile S.A.		4.750		08/01/26		3,384
	2,025,000		Intelsat Jackson Holdings S.A.		5.500		08/01/23		1,914
	3,500,000	g	Oi S.A.		5.750		02/10/22		2,865
	3,950,000		Orange S.A.		5.500		02/06/44		4,690
	2,800,000	g	Qtel International Finance Ltd		3.875		01/31/28		2,758
	2,050,000	g	SES		3.600		04/04/23		2,146
	3,450,000	g	SES Global Americas Holdings GP		2.500		03/25/19		3,461
	7,475,000		Sprint Corp		7.250		09/15/21		7,512
	1,000,000	g	Telecom Italia S.p.A		5.303		05/30/24		1,047
	11,100,000		Telefonica Emisiones SAU		3.992		02/16/16		11,382
	11,850,000		Telefonica Emisiones SAU		4.570		04/27/23		13,040
	2,325,000		T-Mobile USA, Inc		6.375		03/01/25		2,399
	1,650,000	g	Turk Telekomunikasyon AS.		4.875		06/19/24		1,642
	21,600,000		Verizon Communications, Inc		0.700		11/02/15		21,601
	19,967,000		Verizon Communications, Inc		2.625		02/21/20		20,328
	9,275,000		Verizon Communications, Inc		3.450		03/15/21		9,700
	5,625,000		Verizon Communications, Inc		4.150		03/15/24		6,042
	20,500,000		Verizon Communications, Inc		4.400		11/01/34		20,884

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	25,920,000	g	Verizon Communications, Inc		4.272	%	01/15/36	$	25,724
	10,550,000		Verizon Communications, Inc		3.850		11/01/42		9,585
	549,000		Verizon Communications, Inc		6.550		09/15/43		713
	13,623,000		Verizon Communications, Inc		5.012		08/21/54		14,137
	5,321,000	g	Verizon Communications, Inc		4.672		03/15/55		5,212
	4,600,000	g	VimpelCom Holdings BV		5.950		02/13/23		3,956
	1,525,000	g	Virgin Media Finance plc		6.000		10/15/24		1,601
			TOTAL TELECOMMUNICATION SERVICES						271,263
TRANSPORTATION - 1.2%
	6,125,000	g	AP Moeller-Maersk A.S.		2.550		09/22/19		6,226
	5,850,000	g	AP Moeller-Maersk A.S.		3.750		09/22/24		6,063
	1,800,000	g	Asciano Finance Ltd		3.125		09/23/15		1,815
	5,730,000	g	Asciano Finance Ltd		5.000		04/07/18		6,161
	6,600,000		Boeing Co		3.300		03/01/35		6,559
	3,325,000		Boeing Co		3.500		03/01/45		3,299
	1,000,000	g	Bombardier, Inc		5.500		09/15/18		999
	1,075,000	g	Bombardier, Inc		4.750		04/15/19		1,053
	6,875,000		Burlington Northern Santa Fe LLC		3.400		09/01/24		7,175
	7,075,000		Burlington Northern Santa Fe LLC		4.550		09/01/44		7,754
	9,200,000		Canadian Pacific Railway Co		2.900		02/01/25		9,177
	3,000,000		CSX Corp		4.100		03/15/44		3,125
	1,300,000	g	Embraer Overseas Ltd		5.696		09/16/23		1,389
	3,900,000	g	ERAC USA Finance LLC		3.300		10/15/22		3,965
	4,150,000	g	ERAC USA Finance LLC		5.625		03/15/42		4,840
	4,350,000		FedEx Corp		2.300		02/01/20		4,395
	5,400,000		FedEx Corp		3.200		02/01/25		5,473
	4,500,000		FedEx Corp		4.100		02/01/45		4,494
	6,311,000		GATX Corp		1.250		03/04/17		6,284
	7,150,000		GATX Corp		2.500		07/30/19		7,205
	4,425,000		GATX Corp		3.250		03/30/25		4,377
	5,900,000		GATX Corp		5.200		03/15/44		6,618
	6,650,000		GATX Corp		4.500		03/30/45		6,750
	17,344,000		Kansas City Southern de Mexico S.A. de C.V.		2.350		05/15/20		17,083
	2,625,000		Northrop Grumman Corp		1.750		06/01/18		2,632
	2,975,000		Southwest Airlines Co		2.750		11/06/19		3,043
	3,500,000	g	TTX Co		3.600		01/15/25		3,632
	3,375,000		Union Pacific Corp		3.375		02/01/35		3,297
	7,750,000		United Parcel Service, Inc		3.125		01/15/21		8,235
	4,900,000		United Parcel Service, Inc		3.625		10/01/42		4,936
			TOTAL TRANSPORTATION						158,054
UTILITIES - 3.8%
	1,250,000	i	AES Corp		3.262		06/01/19		1,244
	6,225,000		AES Corp		4.875		05/15/23		6,015
	1,500,000		AES Corp		5.500		03/15/24		1,500
	6,325,000		AGL Capital Corp		4.400		06/01/43		6,860
	5,150,000		Alabama Power Co		3.550		12/01/23		5,511
	3,475,000		Alabama Power Co		4.150		08/15/44		3,761
	15,000,000		American Electric Power Co, Inc		1.650		12/15/17		15,084
	6,000,000		American Electric Power Co, Inc		2.950		12/15/22		6,050
	2,000,000		AmeriGas Finance LLC		7.000		05/20/22		2,145
	3,000,000		AmeriGas Partners LP		6.250		08/20/19		3,112

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,650,000		Arizona Public Service Co		4.500	%	04/01/42	$	1,863
	5,500,000		Atmos Energy Corp		8.500		03/15/19		6,832
	8,350,000		Atmos Energy Corp		4.125		10/15/44		8,925
	4,800,000		Berkshire Hathaway Energy Co		3.500		02/01/25		4,999
	8,000,000		Berkshire Hathaway Energy Co		5.150		11/15/43		9,532
	5,775,000		Berkshire Hathaway Energy Co		4.500		02/01/45		6,288
	6,225,000		Black Hills Corp		4.250		11/30/23		6,701
	5,825,000		Brixmor Operating Partnership LP		3.850		02/01/25		5,830
	4,750,000		Carolina Power & Light Co		5.300		01/15/19		5,374
	2,750,000		Carolina Power & Light Co		5.700		04/01/35		3,482
	3,670,000		CenterPoint Energy Resources Corp		4.500		01/15/21		4,097
	3,550,000		CenterPoint Energy Resources Corp		6.250		02/01/37		4,590
	3,500,000	g	CEZ AS.		4.250		04/03/22		3,792
	1,840,000	g	Cleopatra Finance Ltd		5.625		02/15/20		1,798
	1,610,000	g	Cleopatra Finance Ltd		6.250		02/15/22		1,574
	1,610,000	g	Cleopatra Finance Ltd		6.500		02/15/25		1,554
	2,500,000		CMS Energy Corp		5.050		02/15/18		2,736
	2,100,000	g	Colbun S.A.		4.500		07/10/24		2,164
	3,055,000		Commonwealth Edison Co		4.000		08/01/20		3,339
	4,200,000		Commonwealth Edison Co		5.900		03/15/36		5,518
	5,525,000		Commonwealth Edison Co		3.700		03/01/45		5,608
	2,750,000		Connecticut Light & Power Co		5.500		02/01/19		3,131
	3,000,000		Connecticut Light & Power Co		4.300		04/15/44		3,363
	9,050,000		Consolidated Edison Co of New York, Inc		3.950		03/01/43		9,341
	10,250,000	g	Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		10,361
	3,300,000		Dominion Gas Holdings LLC		3.600		12/15/24		3,463
	5,775,000		Dominion Gas Holdings LLC		4.600		12/15/44		6,234
	1,400,000		Duke Energy Carolinas LLC		4.300		06/15/20		1,559
	3,375,000		Duke Energy Ohio, Inc		3.800		09/01/23		3,662
	4,575,000		Duke Energy Progress, Inc		4.150		12/01/44		4,998
	1,750,000	g	Dynegy Finance I, Inc		6.750		11/01/19		1,811
	7,100,000	g,i	Electricite de France		5.625		12/30/49		7,561
	3,000,000	g	Empresa Electrica Angamos S.A.		4.875		05/25/29		2,967
	900,000		Empresa Nacional de Electricidad S.A.		4.250		04/15/24		933
	2,900,000		ENN Energy Holdings Ltd		3.250		10/23/19		2,897
	4,000,000	g	Eskom Holdings Ltd		5.750		01/26/21		3,861
	2,550,000	g	Eskom Holdings SOC Ltd		7.125		02/11/25		2,569
	7,000,000		Exelon Generation Co LLC		2.950		01/15/20		7,118
	2,250,000		Ferrellgas LP		6.500		05/01/21		2,267
	2,750,000		Ferrellgas LP		6.750		01/15/22		2,798
	6,250,000	g	FirstEnergy Transmission LLC		4.350		01/15/25		6,602
	2,000,000		Florida Power Corp		6.400		06/15/38		2,841
	3,500,000		FPL Group Capital, Inc		2.600		09/01/15		3,524
	3,000,000		Georgia Power Co		5.400		06/01/40		3,752
	5,000,000		Indiana Michigan Power Co		7.000		03/15/19		5,957
	2,725,000		Integrys Energy Group, Inc		4.170		11/01/20		2,942
	1,350,000	g	Israel Electric Corp Ltd		6.700		02/10/17		1,438
	3,000,000	g	Israel Electric Corp Ltd		5.625		06/21/18		3,190
	1,300,000	g	Israel Electric Corp Ltd		5.000		11/12/24		1,345
	1,000,000	g	Kansas Gas & Electric		6.700		06/15/19		1,181
	625,000	g	KazMunayGas National Co JSC		4.400		04/30/23		541
	1,200,000	g	KazMunayGas National Co JSC		4.875		05/07/25		1,035
	2,825,000		Kinder Morgan Energy Partners LP		9.000		02/01/19		3,441

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,500,000	g	Korea Hydro & Nuclear Power Co Ltd		2.875	%	10/02/18	$	1,546
	2,500,000	g	Korea Hydro & Nuclear Power Co Ltd		2.375		10/28/19		2,524
	5,000,000		LG&E and KU Energy LLC		3.750		11/15/20		5,291
	1,700,000	g	MTN Mauritius Investments Ltd		4.755		11/11/24		1,708
	2,800,000		Nevada Power Co		6.500		08/01/18		3,240
	3,335,000		Nevada Power Co		5.450		05/15/41		4,249
	3,500,000		NiSource Finance Corp		4.800		02/15/44		3,935
	3,375,000		Northeast Utilities		1.450		05/01/18		3,351
	6,675,000		Northeast Utilities		3.150		01/15/25		6,741
	2,000,000		NRG Energy, Inc		6.250		05/01/24		2,015
	7,800,000		NSTAR Electric Co		4.400		03/01/44		8,812
	2,500,000		NTPC Ltd		5.625		07/14/21		2,818
	1,000,000		NTPC Ltd		4.750		10/03/22		1,077
	7,100,000		Oncor Electric Delivery Co LLC		2.150		06/01/19		7,153
	1,280,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		1,563
	8,170,000		Oncor Electric Delivery Co LLC		4.550		12/01/41		9,217
	1,325,000	g	Oncor Electric Delivery Co LLC		3.750		04/01/45		1,328
	6,600,000		ONEOK Partners LP		3.800		03/15/20		6,729
	4,850,000		ONEOK Partners LP		3.375		10/01/22		4,601
	3,900,000		Pacific Gas & Electric Co		8.250		10/15/18		4,761
	5,850,000		Pacific Gas & Electric Co		4.300		03/15/45		6,296
	4,825,000		Pepco Holdings, Inc		2.700		10/01/15		4,863
	750,000		Potomac Electric Power Co		7.900		12/15/38		1,222
	6,925,000		PPL Capital Funding, Inc		4.200		06/15/22		7,543
	2,000,000		PPL Electric Utilities Corp		3.000		09/15/21		2,084
	3,825,000		Progress Energy, Inc		7.050		03/15/19		4,564
	4,625,000		Public Service Co of Colorado		3.200		11/15/20		4,922
	8,800,000		Public Service Co of Oklahoma		5.150		12/01/19		9,936
	2,640,000		Public Service Electric & Gas Co		5.300		05/01/18		2,947
	5,000,000		Public Service Electric & Gas Co		3.500		08/15/20		5,343
	2,940,000		QEP Resources, Inc		5.375		10/01/22		2,889
	5,170,000		Republic of Angola Via Northern Lights III BV		7.000		08/16/19		5,161
	2,300,000		Sabine Pass LNG LP		6.500		11/01/20		2,380
	4,275,000		San Diego Gas & Electric Co		3.000		08/15/21		4,473
	5,550,000		Sempra Energy		2.875		10/01/22		5,548
	7,425,000		Southern California Edison Co		4.650		10/01/43		8,766
	7,005,000		Southern California Edison Co		3.600		02/01/45		7,033
	6,600,000		Spectra Energy Partners LP		4.500		03/15/45		6,700
	2,325,000		Tampa Electric Co		4.100		06/15/42		2,512
	3,250,000	g	Transportadora de Gas del Peru S.A.		4.250		04/30/28		3,233
	3,680,000		Virginia Electric and Power Co		2.950		01/15/22		3,795
	10,750,000		Walgreens Boots Alliance, Inc		2.700		11/18/19		10,982
	11,775,000		Walgreens Boots Alliance, Inc		3.800		11/18/24		12,175
	5,075,000		Williams Partners LP		4.000		11/15/21		5,210
	7,250,000		Williams Partners LP		4.500		11/15/23		7,517
	6,000,000		Williams Partners LP		4.900		01/15/45		5,627
	4,125,000		Wisconsin Power & Light Co		4.100		10/15/44		4,476
	14,000,000	g	WPD Investment Holdings Ltd		3.900		05/01/16		14,387
	2,890,000		Xcel Energy, Inc		4.800		09/15/41		3,349
			TOTAL UTILITIES						515,153
			TOTAL CORPORATE BONDS						4,955,859
			(Cost $4,765,594)

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
GOVERNMENT BONDS -  45.4%
AGENCY SECURITIES - 2.0%
$	14,754,934		AMAL Ltd		3.465	%	08/21/21		15,619
	4,091,314		Cal Dive I- Title XI, Inc		4.930		02/01/27		4,636
	5,000,000		International Bank for Reconstruction & Development		0.500		04/15/16		5,004
	21,125,000		Lutheran Medical Center		1.982		02/20/30		20,537
	414,977		National Credit Union Administration		1.840		10/07/20		417
	14,586,376		Premier Aircraft Leasing		3.576		02/06/22		15,514
	7,000,000		Private Export Funding Corp (PEFCO)		4.550		05/15/15		7,036
	15,000,000		PEFCO		2.125		07/15/16		15,303
	34,000,000		PEFCO		1.375		02/15/17		34,240
	17,000,000		PEFCO		5.450		09/15/17		18,846
	10,000,000		PEFCO		2.250		12/15/17		10,285
	5,000,000		PEFCO		4.375		03/15/19		5,525
	7,240,000		PEFCO		1.450		08/15/19		7,183
	27,750,000		PEFCO		2.250		03/15/20		28,371
	35,000,000		PEFCO		4.300		12/15/21		39,807
	30,000,000		PEFCO		2.050		11/15/22		29,450
	2,101,563		Totem Ocean Trailer Express, Inc		4.514		12/18/19		2,231
	9,000,000		Ukraine Government AID Bonds		1.844		05/16/19		9,155
	13,730,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		14,483
	3,000,000		US Department of Housing and Urban Development (HUD)		5.380		08/01/18		3,203
	6,065,749		Export Lease Ten Co LLC		1.650		05/07/25		5,954
			TOTAL AGENCY SECURITIES						292,799
FOREIGN GOVERNMENT BONDS - 5.8%
	4,500,000	g	Banque Centrale de Tunisie S.A.		5.750		01/30/25		4,539
	2,990,000	g	Barbados Government International Bond		7.000		08/04/22		2,889
	3,800,000	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		3,629
	1,210,000		Brazilian Government International Bond		5.875		01/15/19		1,331
	2,500,000		Brazilian Government International Bond		4.250		01/07/25		2,450
	825,000		Brazilian Government International Bond		7.125		01/20/37		980
	2,000,000		Brazilian Government International Bond		5.625		01/07/41		2,035
	1,735,000		Brazilian Government International Bond		5.000		01/27/45		1,605
	5,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		5,092
	4,000,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		02/12/22		3,998
	1,200,000	g	Caisse d’Amortissement de la Dette Sociale		3.375		03/20/24		1,317
	25,275,000		Canada Government International Bond		0.875		02/14/17		25,399
	5,410,000		Colombia Government International Bond		4.375		07/12/21		5,740
	1,775,000		Colombia Government International Bond		2.625		03/15/23		1,672
COP	1,666,000,000		Colombia Government International Bond		4.375		03/21/23		583
$	4,450,000		Colombia Government International Bond		4.000		02/26/24		4,588
	1,500,000		Colombia Government International Bond		6.125		01/18/41		1,777
	1,975,000		Colombia Government International Bond		5.625		02/26/44		2,207
	3,500,000	g	Costa Rica Government International Bond		7.158		03/12/45		3,605
	2,000,000	g	Croatia Government International Bond		6.250		04/27/17		2,125
	3,150,000	g	Croatia Government International Bond		6.375		03/24/21		3,471
	2,325,000	g	Croatia Government International Bond		5.500		04/04/23		2,467
DOP	63,500,000	g	Dominican Republic International Bond		10.000		01/05/17		1,437
$	4,500,000	g	Dominican Republic International Bond		5.500		01/27/25		4,646
	5,175,000	g	El Salvador Government International Bond		6.375		01/18/27		5,175

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	32,500,000		European Investment Bank		1.125	%	04/15/15	$	32,500
	10,000,000		European Investment Bank		2.500		04/15/21		10,460
	3,500,000		European Investment Bank		4.875		02/15/36		4,710
	15,350,000		Export Development Canada		2.250		05/28/15		15,397
	5,825,000		Export-Import Bank of Korea		1.250		11/20/15		5,842
	3,800,000		Export-Import Bank of Korea		2.250		01/21/20		3,837
	4,575,000		Federative Republic of Brazil		12.500		01/05/16		1,436
	3,000,000		Federative Republic of Brazil		6.000		01/17/17		3,214
	670,000	g	Guatemala Government Bond		5.750		06/06/22		738
EUR	25,250,000	g	Hellenic Republic Government Bond		4.750		04/17/19		17,946
$	1,040,000		Hungary Government International Bond		4.000		03/25/19		1,085
	2,700,000		Hungary Government International Bond		5.750		11/22/23		3,105
	1,100,000		Hungary Government International Bond		5.375		03/25/24		1,233
	40,200,000		Hydro-Quebec		1.375		06/19/17		40,577
	2,700,000	g	Indonesia Government International Bond		4.125		01/15/25		2,771
	2,400,000	g	Indonesia Government International Bond		5.125		01/15/45		2,520
	4,400,000		Italy Government International Bond		5.375		06/12/17		4,784
	1,610,000		Italy Government International Bond		6.875		09/27/23		2,081
	1,400,000	g	Ivory Coast Government International Bond		5.375		07/23/24		1,323
	500,000	g,i	Ivory Coast Government International Bond		5.750		12/31/32		475
	1,880,000	g	Japan Finance Organization for Municipalities		2.125		03/06/19		1,914
	5,000,000	g	Kazakhstan Government International Bond		3.875		10/14/24		4,619
	1,725,000	g	Kenya Government International Bond		5.875		06/24/19		1,775
	2,600,000	g	Kenya Government International Bond		6.875		06/24/24		2,715
	18,750,000		KFW		2.625		01/25/22		19,780
	4,500,000	g	Kommunalbanken AS.		1.375		06/08/17		4,548
	5,800,000	g,i	Kommunalbanken AS.		0.441		02/20/18		5,815
	7,700,000	g	Kommunalbanken AS.		1.625		01/15/20		7,718
	2,600,000	g	Kommunalbanken AS.		2.125		02/11/25		2,571
	5,000,000	g	Kommuninvest I Sverige AB		2.000		11/12/19		5,101
	2,400,000		Korea Development Bank		1.500		01/22/18		2,386
	2,600,000		Korea Development Bank		2.500		03/11/20		2,646
	6,000,000	g	Korea Housing Finance Corp		1.625		09/15/18		5,915
	5,000,000		Landwirtschaftliche Rentenbank		5.125		02/01/17		5,400
	6,682,000		Landwirtschaftliche Rentenbank		2.000		01/13/25		6,665
	3,000,000	g	Lithuania Government International Bond		6.625		02/01/22		3,738
MXN	50,000,000		Mexican Bonos		7.750		12/14/17		3,543
$	1,000,000		Mexico Government International Bond		5.625		01/15/17		1,073
	2,500,000		Mexico Government International Bond		3.600		01/30/25		2,566
	968,000		Mexico Government International Bond		6.050		01/11/40		1,195
	1,500,000		Mexico Government International Bond		4.750		03/08/44		1,575
	5,760,000		Mexico Government International Bond		4.600		01/23/46		5,904
	1,000,000	g	Morocco Government International Bond		5.500		12/11/42		1,113
	1,000,000	g	Municipality Finance plc		1.750		05/21/19		1,013
	3,500,000	g	Nigeria Government International Bond		6.375		07/12/23		3,514
	43,950,000		North American Development Bank		2.400		10/26/22		43,441
	1,175,000		Panama Government International Bond		5.200		01/30/20		1,307
	3,000,000		Panama Government International Bond		4.000		09/22/24		3,142
	3,500,000		Panama Government International Bond		3.750		03/16/25		3,588
	1,000,000		Peruvian Government International Bond		7.125		03/30/19		1,195
	1,250,000		Peruvian Government International Bond		6.550		03/14/37		1,664
	4,175,000		Philippine Government International Bond		4.200		01/21/24		4,676
	2,500,000		Philippine Government International Bond		5.000		01/13/37		3,066

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,980,000		Philippine Government International Bond		3.950	%	01/20/40	$	3,163
	1,850,000		Poland Government International Bond		6.375		07/15/19		2,176
	6,167,000		Poland Government International Bond		5.125		04/21/21		7,085
	1,000,000		Poland Government International Bond		4.000		01/22/24		1,098
	25,000,000	g	Province of Alberta Canada		1.000		06/21/17		25,080
	13,825,000		Province of British Columbia Canada		2.850		06/15/15		13,895
	21,000,000		Province of British Columbia Canada		1.200		04/25/17		21,155
	15,000,000		Province of British Columbia Canada		2.000		10/23/22		15,015
	20,750,000		Province of Manitoba Canada		1.750		05/30/19		20,990
	10,000,000		Province of Manitoba Canada		3.050		05/14/24		10,603
	20,000,000		Province of New Brunswick Canada		2.750		06/15/18		20,949
	12,000,000		Province of Nova Scotia Canada		2.375		07/21/15		12,072
	35,525,000		Province of Ontario Canada		2.700		06/16/15		35,691
	24,000,000		Province of Ontario Canada		2.300		05/10/16		24,466
	2,250,000		Province of Quebec Canada		5.125		11/14/16		2,409
	8,835,000		Province of Quebec Canada		4.625		05/14/18		9,742
	22,500,000		Province of Quebec Canada		3.500		07/29/20		24,444
	10,000,000		Province of Quebec Canada		2.750		08/25/21		10,442
	6,000,000		Province of Quebec Canada		7.500		09/15/29		9,097
	5,175,000	g	Republic of Azerbaijan International Bond		4.750		03/18/24		5,153
	1,465,000	g	Republic of Ghana		8.125		01/18/26		1,391
	3,485,000	g	Republic of Paraguay		6.100		08/11/44		3,825
	1,300,000	g	Republic of Serbia		5.250		11/21/17		1,348
	1,373,174	i	Republic of Serbia		6.750		11/01/24		1,395
	1,225,000	g	Republic of Trinidad & Tobago		4.375		01/16/24		1,308
	4,500,000		Republic of Turkey		7.500		07/14/17		5,007
	1,650,000		Republic of Turkey		6.000		01/14/41		1,875
	1,850,000	g	Slovenia Government International Bond		5.500		10/26/22		2,132
	2,135,000	g	Slovenia Government International Bond		5.250		02/18/24		2,450
	1,300,000	g	Socialist Republic of Vietnam		6.750		01/29/20		1,466
ZAR	121,524,000		South Africa Government Bond		8.250		09/15/17		10,328
$	1,002,000		South Africa Government International Bond		6.875		05/27/19		1,152
	3,500,000		South Africa Government International Bond		5.500		03/09/20		3,839
	5,625,000		South Africa Government International Bond		5.875		09/16/25		6,442
	2,375,000		South Africa Government International Bond		5.375		07/24/44		2,552
	2,400,000	g	Sri Lanka Government International Bond		6.000		01/14/19		2,460
	1,630,000	g	Sri Lanka Government International Bond		6.250		07/27/21		1,685
	7,680,000		Svensk Exportkredit AB		5.125		03/01/17		8,309
	4,000,000		Svensk Exportkredit AB		1.125		04/05/18		3,995
	12,000,000		Turkey Government International Bond		6.750		04/03/18		13,289
	4,000,000		Turkey Government International Bond		3.250		03/23/23		3,784
	7,050,000		Turkey Government International Bond		5.750		03/22/24		7,840
	5,100,000		Turkey Government International Bond		4.875		04/16/43		5,036
	2,500,000		United Mexican States		5.950		03/19/19		2,856
	500,000		United Mexican States		5.125		01/15/20		561
	1,925,000		Uruguay Government International Bond		4.500		08/14/24		2,089
	3,750,000		Uruguay Government International Bond		5.100		06/18/50		3,900
	4,715,000	g	Vietnam Government International Bond		4.800		11/19/24		4,909
			TOTAL FOREIGN GOVERNMENT BONDS						799,620
MORTGAGE BACKED - 24.5%
	23,387,537		Federal Home Loan Mortgage Corp (FHLMC)		4.000		10/15/23		25,336
	5,000,000		FHLMC		3.000		02/15/26		5,210

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	26,445,000		FHLMC		4.000	%	12/15/38	$	28,358
	69,851,695		FHLMC		3.000		08/15/41		72,747
	16,196,545		FHLMC		4.000		03/15/44		17,282
	125,898		Federal Home Loan Mortgage Corp Gold (FGLMC)		6.500		12/01/16		129
	1,140,611		FGLMC		5.000		09/01/18		1,198
	595,212		FGLMC		5.500		01/01/19		630
	163,752		FGLMC		4.000		06/01/19		173
	641,922		FGLMC		4.500		01/01/20		674
	580,210		FGLMC		4.500		07/01/20		621
	373,593		FGLMC		4.500		08/01/20		394
	102,962		FGLMC		7.000		10/01/20		110
	4,990,704		FGLMC		4.500		06/01/21		5,265
	1,718,829		FGLMC		4.500		06/01/21		1,814
	650,405		FGLMC		5.000		04/01/23		708
	19,625		FGLMC		7.000		05/01/23		23
	226,730		FGLMC		6.000		10/01/23		258
	171,837		FGLMC		6.000		11/01/23		195
	2,450,175		FGLMC		4.000		07/01/24		2,607
	777,766		FGLMC		4.500		09/01/24		839
	27,000,000	h	FGLMC		3.000		04/15/30		28,266
	39,000,000	h	FGLMC		3.500		04/15/30		41,409
	42,138		FGLMC		8.000		01/01/31		49
	80,124		FGLMC		7.000		12/01/31		83
	6,004		FGLMC		7.000		01/01/32		6
	189,987		FGLMC		8.000		02/01/32		224
	1,399,021		FGLMC		4.500		07/01/33		1,529
	3,037,329		FGLMC		5.500		12/01/33		3,432
	1,701,919		FGLMC		5.500		12/01/33		1,923
	8,350,165		FGLMC		7.000		12/01/33		10,015
	10,633,888		FGLMC		5.000		01/01/34		11,835
	3,928,057		FGLMC		4.500		10/01/34		4,287
	1,849,849		FGLMC		4.500		04/01/35		2,025
	2,961,064		FGLMC		7.000		05/01/35		3,599
	632,716		FGLMC		5.000		02/01/36		703
	64,460		FGLMC		6.500		05/01/36		74
	3,690,063		FGLMC		5.000		04/01/38		4,128
	2,995,164		FGLMC		5.000		07/01/39		3,319
	14,741,719		FGLMC		4.500		11/01/40		16,485
	16,648,959		FGLMC		4.500		12/01/40		18,568
	31,604,427		FGLMC		3.500		01/01/41		33,182
	14,508,526		FGLMC		3.500		04/01/44		15,344
	24,843,664		FGLMC		4.000		08/01/44		26,995
	17,703,141		FGLMC		4.000		09/01/44		19,302
	5,824,062		FGLMC		4.500		10/01/44		6,513
	3,226,844		FGLMC		4.500		11/01/44		3,609
	2,536,106		FGLMC		4.500		11/01/44		2,836
	1,311,758		FGLMC		4.500		12/01/44		1,467
	2,018,991		FGLMC		4.500		12/01/44		2,258
	75,000,000	h	FGLMC		3.000		04/15/45		76,523
	131,000,000	h	FGLMC		3.500		04/15/45		137,331
	50,000,000	h	FGLMC		4.000		04/15/45		53,414
	50,000,000	h	FGLMC		3.000		05/15/45		50,897
	57,000,000	h	FGLMC		4.000		05/15/45		60,794

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	414		Federal National Mortgage Association (FNMA)		7.500	%	04/01/15	$	0	^
	571		FNMA		7.500		04/01/15		1
	2,773		FNMA		6.500		03/01/16		3
	2,301		FNMA		6.500		04/01/16		3
	46,826		FNMA		6.500		10/01/16		48
	69,149		FNMA		6.500		11/01/16		71
	153,986		FNMA		6.500		02/01/18		161
	1,241,632		FNMA		5.500		04/01/18		1,305
	223,861		FNMA		6.500		04/01/18		235
	958,051		FNMA		5.500		07/01/20		1,041
	322,440		FNMA		4.500		11/01/20		339
	840,423		FNMA		5.500		08/01/21		916
	614,591		FNMA		4.500		03/01/23		659
	45,894		FNMA		8.000		03/01/23		48
	1,197,774		FNMA		4.500		06/01/23		1,284
	1,852,066		FNMA		5.000		07/01/23		2,013
	1,237,287		FNMA		4.000		05/01/24		1,309
	124,708		FNMA		8.000		07/01/24		151
	1,054,897		FNMA		4.500		08/01/24		1,137
	5,125,037		FNMA		4.000		09/01/24		5,425
	25,408		FNMA		9.000		11/01/25		30
	32,000,000	h	FNMA		2.500		04/25/30		32,858
	53,000,000	h	FNMA		3.000		04/25/30		55,549
	84,000,000	h	FNMA		2.500		05/25/30		86,080
	1,575,743		FNMA		6.500		07/01/32		1,851
	130,714		FNMA		7.000		07/01/32		147
	170,499		FNMA		7.000		07/01/32		184
	781,014		FNMA		4.500		03/25/33		804
	10,895,522		FNMA		3.000		10/01/33		11,297
	1,476,097		FNMA		4.500		10/01/33		1,623
	28,059,824		FNMA		5.000		10/01/33		31,469
	3,016,439		FNMA		5.000		11/01/33		3,418
	153,878		FNMA		5.000		11/01/33		174
	11,333,548		FNMA		5.500		03/01/34		12,839
	7,572,569		FNMA		3.500		03/25/34		7,903
	51,696,551		FNMA		3.000		01/01/35		53,590
	10,519,802		FNMA		5.500		02/01/35		11,917
	2,605,273		FNMA		4.500		05/01/35		2,865
	68,927		FNMA		7.500		06/01/35		75
	62,510		FNMA		6.500		03/01/37		72
	3,901,631		FNMA		5.500		08/01/37		4,418
	10,878,822		FNMA		5.500		09/01/37		12,242
	1,677,850		FNMA		6.000		09/01/37		1,944
	1,552,388		FNMA		6.000		09/01/37		1,802
	1,421,675		FNMA		6.500		09/01/37		1,632
	2,036,106		FNMA		5.500		01/01/38		2,299
	69,619		FNMA		6.500		02/01/38		80
	11,360,219		FNMA		5.500		04/01/38		12,785
	8,704,000		FNMA		5.500		06/01/38		9,794
	9,758,986		FNMA		5.500		11/01/38		11,310
	8,189,322		FNMA		5.500		12/01/38		9,375
	17,978,320		FNMA		4.000		02/01/39		19,239
	216,627	h	FNMA		4.500		04/01/39		238

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	752,541		FNMA		4.000	%	07/01/39	$	821
	6,220,025		FNMA		5.500		08/01/39		7,103
	4,405,039		FNMA		4.500		10/01/39		4,814
	3,189,713		FNMA		5.500		11/01/39		3,589
	359,547	h	FNMA		4.500		02/01/40		397
	4,753,918		FNMA		4.500		06/01/40		5,201
	2,449,147		FNMA		5.000		08/01/40		2,726
	11,365,000		FNMA		4.000		08/25/40		12,192
	14,726,282		FNMA		5.000		09/01/40		16,385
	3,842,771		FNMA		4.500		10/01/40		4,230
	1,059,010		FNMA		6.000		10/01/40		1,209
	758,171	h	FNMA		4.500		11/01/40		837
	12,797,613		FNMA		4.500		11/01/40		14,121
	5,714,118		FNMA		4.500		11/01/40		6,258
	1,497,257	h	FNMA		4.500		01/01/41		1,663
	1,172,445	h	FNMA		4.500		02/01/41		1,295
	18,105,450		FNMA		5.000		05/01/41		20,187
	1,325,479	h	FNMA		4.500		06/01/41		1,464
	1,221,699	h	FNMA		4.500		06/01/41		1,357
	1,157,561		FNMA		5.000		06/01/41		1,297
	1,542,421		FNMA		5.000		08/01/41		1,716
	625,100		FNMA		4.500		09/01/41		685
	1,728,648	h	FNMA		4.500		12/01/41		1,910
	34,829,401		FNMA		5.500		12/01/41		40,042
	1,341,377	h	FNMA		4.500		01/01/42		1,482
	10,000,000		FNMA		4.000		01/25/42		10,981
	7,922,603		FNMA		3.500		02/01/42		8,368
	1,526,161	h	FNMA		4.500		03/01/42		1,696
	1,454,094	h	FNMA		4.500		04/01/42		1,607
	1,191,626		FNMA		4.500		04/01/42		1,305
	13,784,767		FNMA		4.500		04/01/42		15,100
	1,605,925	h	FNMA		4.500		06/01/42		1,775
	1,252,699	h	FNMA		4.500		07/01/42		1,392
	254,730		FNMA		3.000		10/01/42		261
	23,529,202		FNMA		3.000		10/01/42		24,121
	257,209		FNMA		3.000		10/01/42		264
	662,588		FNMA		3.000		11/01/42		679
	942,942		FNMA		3.000		12/01/42		967
	381,724		FNMA		3.000		12/01/42		391
	26,817,291		FNMA		3.000		01/01/43		27,488
	12,261,391		FNMA		3.000		01/01/43		12,562
	728,994		FNMA		3.000		02/01/43		747
	15,838,036		FNMA		3.000		02/01/43		16,234
	1,669,467		FNMA		3.000		02/01/43		1,711
	890,074		FNMA		3.000		02/01/43		912
	33,615,094		FNMA		3.000		02/01/43		34,455
	6,126,261		FNMA		3.000		02/01/43		6,280
	166,881		FNMA		3.000		02/01/43		171
	6,525,699		FNMA		3.500		02/01/43		6,925
	4,638,791		FNMA		3.000		03/01/43		4,753
	913,918		FNMA		3.000		03/01/43		936
	4,131,285		FNMA		3.000		03/01/43		4,234
	1,191,520		FNMA		3.000		03/01/43		1,221

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,415,536		FNMA		3.000	%	03/01/43	$	2,475
	815,976		FNMA		3.000		03/01/43		836
	159,198		FNMA		3.000		03/01/43		163
	287,351		FNMA		3.000		03/01/43		294
	3,811,114		FNMA		3.000		03/01/43		3,904
	1,219,279		FNMA		3.000		03/01/43		1,249
	3,593,624		FNMA		3.000		03/01/43		3,682
	1,008,807		FNMA		3.000		04/01/43		1,034
	1,392,147		FNMA		3.000		04/01/43		1,426
	254,348		FNMA		3.000		04/01/43		261
	2,184,124		FNMA		3.000		04/01/43		2,238
	779,837		FNMA		3.000		04/01/43		799
	1,359,067		FNMA		3.000		04/01/43		1,393
	180,779		FNMA		3.000		04/01/43		185
	1,620,329		FNMA		3.000		04/01/43		1,660
	65,295		FNMA		3.000		04/01/43		67
	17,353		FNMA		3.000		04/01/43		18
	5,975,350		FNMA		3.000		05/01/43		6,122
	1,907,910		FNMA		3.000		05/01/43		1,955
	1,750,658		FNMA		3.500		05/01/43		1,858
	1,043,559		FNMA		3.500		05/01/43		1,107
	850,867		FNMA		3.500		06/01/43		903
	1,054,732		FNMA		3.500		06/01/43		1,119
	2,243,687		FNMA		3.500		06/01/43		2,381
	2,200,707		FNMA		3.500		06/01/43		2,335
	4,611,713		FNMA		3.500		06/01/43		4,894
	1,753,709		FNMA		3.500		06/01/43		1,861
	6,090,499		FNMA		3.500		07/01/43		6,463
	2,908,736		FNMA		3.500		07/01/43		3,087
	22,471,478		FNMA		4.000		11/01/43		24,512
	10,707,679		FNMA		4.000		04/01/44		11,685
	6,345,775		FNMA		4.000		06/01/44		6,925
	3,483,537		FNMA		4.000		06/01/44		3,801
	10,402,502		FNMA		4.500		06/01/44		11,650
	3,412,692		FNMA		4.000		07/01/44		3,723
	1,828,701		FNMA		4.000		07/01/44		1,995
	6,175,571	h	FNMA		4.000		08/01/44		6,738
	15,151,728	h	FNMA		4.000		08/01/44		16,531
	6,590,645		FNMA		4.000		08/01/44		7,190
	2,347,504	h	FNMA		4.000		08/01/44		2,561
	1,187,302		FNMA		4.000		09/01/44		1,295
	1,629,816	h	FNMA		4.000		09/01/44		1,778
	1,152,895		FNMA		3.500		10/01/44		1,223
	828,073		FNMA		3.500		10/01/44		879
	7,803,219		FNMA		4.000		10/01/44		8,514
	10,087,343		FNMA		4.500		10/01/44		11,298
	19,325,648		FNMA		4.500		11/01/44		21,642
	5,643,845		FNMA		4.000		12/01/44		6,138
	7,111,278		FNMA		4.000		12/01/44		7,734
	5,338,879		FNMA		4.500		12/01/44		5,980
	5,663,711		FNMA		4.000		01/01/45		6,180
	58,162,789		FNMA		4.000		01/01/45		63,473
	1,323,556	h	FNMA		3.500		03/01/45		1,401

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	805,910	h	FNMA		3.500	%	03/01/45	$	853
	2,566,943		FNMA		4.500		03/01/45		2,876
	52,000,000	h	FNMA		3.000		04/25/45		53,170
	47,000,000	h	FNMA		3.500		04/25/45		49,378
	68,000,000	h	FNMA		4.000		04/25/45		72,711
	65,000,000	h	FNMA		5.000		04/25/45		72,280
	30,000,000	h	FNMA		3.000		05/25/45		30,602
	176,000,000	h	FNMA		3.500		05/25/45		184,456
	54,000,000	h	FNMA		4.000		05/25/45		57,648
	164,000,000	h	FNMA		4.500		05/25/45		178,477
	58,000,000	h	FNMA		5.000		05/25/45		64,410
	53,000,000	h	FNMA		3.500		06/25/45		55,416
	37,000,000	h	FNMA		4.000		06/25/45		39,430
	28,000,000	h	FNMA		4.500		06/25/45		30,417
	1,132		Government National Mortgage Association (GNMA)		9.000		06/15/16		1
	999		GNMA		9.000		09/15/16		1
	1,407		GNMA		9.000		09/15/16		1
	4,332		GNMA		9.000		11/15/16		4
	3,045		GNMA		9.000		12/15/16		3
	1,278		GNMA		9.000		12/15/16		1
	13,013		GNMA		9.500		12/15/16		14
	13,054		GNMA		8.000		06/15/24		15
	29,593		GNMA		8.500		11/20/30		36
	48,944		GNMA		8.500		12/20/30		61
	917,435		GNMA		5.500		07/15/33		1,036
	569,678		GNMA		5.500		11/20/33		646
	1,984,132		GNMA		5.500		03/20/35		2,249
	1,018,315		GNMA		5.500		12/20/35		1,154
	578,434		GNMA		6.000		10/20/36		663
	605,049		GNMA		6.000		01/20/37		694
	1,752,670		GNMA		6.000		02/20/37		2,009
	1,349,883		GNMA		5.000		04/15/38		1,505
	1,359,230		GNMA		5.500		07/15/38		1,536
	2,083,294		GNMA		5.500		07/20/38		2,338
	716,359		GNMA		6.000		08/20/38		813
	1,221,654		GNMA		6.500		11/20/38		1,407
	1,501,489		GNMA		2.176		05/16/39		1,508
	2,550,723		GNMA		5.000		06/15/39		2,894
	3,482,839		GNMA		5.000		06/15/39		3,950
	1,885,966		GNMA		5.000		07/20/39		2,115
	11,534,390		GNMA		4.500		09/20/39		12,933
	877,135		GNMA		4.000		11/20/39		911
	10,390,080		GNMA		3.500		07/15/43		11,065
	3,149,827		GNMA		3.500		02/15/45		3,357
	41,000,000	h	GNMA		3.000		04/15/45		42,198
	76,000,000	h	GNMA		3.000		04/20/45		78,280
	141,000,000	h	GNMA		3.500		04/20/45		148,380
	86,000,000	h	GNMA		4.000		04/20/45		91,657
	28,000,000	h	GNMA		5.000		04/20/45		30,620
	125,000,000	h	GNMA		3.500		05/20/45		131,201
	32,000,000	h	GNMA		4.000		05/20/45		34,063
			TOTAL MORTGAGE BACKED						3,359,622

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
MUNICIPAL BONDS - 4.0%
$	9,685,000	Arizona School Facilities Board		0.945	%	09/01/16	$	9,691
	3,740,000	Arizona School Facilities Board		0.945		09/01/16		3,742
	3,270,000	California Earthquake Authority		1.194		07/01/16		3,269
	3,600,000	California Earthquake Authority		1.824		07/01/17		3,614
	1,020,000	Charlotte-Mecklenburg Hospital Authority		5.000		08/01/15		1,033
	15,000,000	City of New York NY		2.450		04/01/19		15,363
	10,000,000	City of New York NY		2.650		04/01/20		10,254
	12,000,000	Florida Hurricane Catastrophe Fund Finance Corp		1.298		07/01/16		12,074
	3,500,000	Maine Municipal Bond Bank		1.708		06/01/16		3,537
	8,800,000	New York State Urban Development Corp		1.350		03/15/18		8,785
	2,000,000	Permanent University Fund		1.439		07/01/17		2,008
	2,625,000	Permanent University Fund		1.730		07/01/18		2,640
	4,720,000	Permanent University Fund		1.880		07/01/19		4,716
	2,320,000	Permanent University Fund		2.258		07/01/20		2,329
	2,160,000	Permanent University Fund		2.408		07/01/21		2,180
	2,750,000	Permanent University Fund		2.508		07/01/22		2,788
	2,855,000	Permanent University Fund		2.608		07/01/23		2,895
	3,250,000	Permanent University Fund		2.708		07/01/24		3,281
	2,335,000	Permanent University Fund		2.808		07/01/25		2,363
	3,775,000	Permanent University Fund		2.908		07/01/26		3,850
	4,000,000	Permanent University Fund		3.008		07/01/27		4,065
	18,535,000	Permanent University Fund		3.575		07/01/32		18,183
	9,000,000	State of California		5.450		04/01/15		9,000
	15,625,000	State of California		1.050		02/01/16		15,691
	11,370,000	State of California		5.950		04/01/16		11,962
	2,915,000	State of Georgia		1.750		07/01/19		2,936
	3,060,000	State of Georgia		2.000		07/01/20		3,082
	3,215,000	State of Georgia		2.150		07/01/21		3,232
	3,905,000	State of Georgia		2.750		07/01/25		3,914
	4,100,000	State of Georgia		2.850		07/01/26		4,136
	4,305,000	State of Georgia		2.950		07/01/27		4,323
	4,520,000	State of Georgia		3.050		07/01/28		4,546
	3,245,000	State of Georgia		3.150		07/01/29		3,235
	12,500,000	State of Illinois		2.000		06/15/15		12,539
	12,500,000	State of Illinois		0.750		06/15/16		12,470
	19,760,000	State of Illinois		4.833		02/01/17		20,846
	12,500,000	State of Illinois		1.750		06/15/17		12,622
	8,000,000	State of Illinois		4.350		06/01/18		8,359
	7,500,000	State of Illinois		2.000		06/15/18		7,578
	7,500,000	State of Illinois		2.000		06/15/19		7,481
	7,160,000	State of Illinois		5.463		02/01/20		7,894
	12,500,000	State of Illinois		1.930		06/15/20		12,202
	12,500,000	State of Illinois		2.250		06/15/21		12,217
	10,000,000	State of Illinois		4.310		04/01/23		10,143
	11,535,000	State of Illinois		4.610		04/01/25		11,830
	9,350,000	State of Illinois		4.760		04/01/26		9,559
	12,500,000	State of Illinois		3.150		06/15/26		12,233
	13,880,000	State of Illinois		4.910		04/01/27		14,039
	12,500,000	State of Illinois		3.250		06/15/27		12,191
	8,115,000	State of Illinois		5.010		04/01/28		8,101
	20,870,000	State of Michigan		3.500		05/15/30		20,824
	21,640,000	State of Michigan		3.600		05/15/31		21,648

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	22,455,000	State of Michigan		3.700	%	05/15/32	$	22,471
	13,515,000	University of California		1.296		05/15/18		13,505
	55,000,000	University of California		1.796		07/01/19		55,249
	11,735,000	University of California		1.995		05/15/20		11,806
	4,500,000	University of California		2.300		05/15/21		4,539
	6,000,000	University of California		2.570		05/15/22		6,068
	14,800,000	University of California		3.931		05/15/45		15,111
		TOTAL MUNICIPAL BONDS						552,242
U.S. TREASURY SECURITIES - 9.1%
	22,000,000	United States Treasury Bond		6.375		08/15/27		32,323
	15,185,000	United States Treasury Bond		5.250		11/15/28		20,726
	49,175,000	United States Treasury Bond		5.250		02/15/29		67,274
	100,686,000	United States Treasury Bond		5.375		02/15/31		142,935
	45,602,000	United States Treasury Bond		4.500		02/15/36		62,133
	4,500,000	United States Treasury Bond		4.750		02/15/37		6,338
	19,135,000	United States Treasury Bond		4.375		05/15/41		26,095
	16,434,000	United States Treasury Bond		3.750		08/15/41		20,434
	56,375,000	United States Treasury Bond		3.625		08/15/43		68,901
	34,109,000	United States Treasury Bond		3.125		08/15/44		38,242
	36,905,000	United States Treasury Bond		3.000		11/15/44		40,443
	25,000,000	United States Treasury Bond		2.500		02/15/45		24,785
	1,000	United States Treasury Note		0.375		06/30/15		1
	12,717,000	United States Treasury Note		1.875		06/30/15		12,771
	15,952,000	United States Treasury Note		1.750		07/31/15		16,039
	18,485,000	United States Treasury Note		1.250		10/31/15		18,598
	17,747,000	United States Treasury Note		0.375		11/15/15		17,764
	5,900,000	United States Treasury Note		0.250		12/31/15		5,900
	3,300,000	United States Treasury Note		0.375		03/15/16		3,303
	23,000,000	United States Treasury Note		0.375		03/31/16		23,020
	9,800,000	United States Treasury Note		2.375		03/31/16		10,001
	44,410,000	United States Treasury Note		0.375		04/30/16		44,431
	6,000,000	United States Treasury Note		0.500		07/31/16		6,009
	10,000,000	United States Treasury Note		3.125		10/31/16		10,423
	4,675,000	United States Treasury Note		0.750		01/15/17		4,695
	3,900,000	United States Treasury Note		0.625		02/15/17		3,906
	2,771,000	United States Treasury Note		0.500		02/28/17		2,769
	6,820,000	United States Treasury Note		1.000		03/15/18		6,844
	12,100,000	United States Treasury Note		2.250		07/31/18		12,589
	9,966,900	United States Treasury Note		1.375		09/30/18		10,071
	10,365,000	United States Treasury Note		1.750		10/31/18		10,607
	5,625,000	United States Treasury Note		1.375		02/28/19		5,667
	5,550,000	United States Treasury Note		1.000		06/30/19		5,494
	3,870,000	United States Treasury Note		1.250		10/31/19		3,859
	59,852,000	United States Treasury Note		1.375		02/29/20		59,870
	825,000	United States Treasury Note		2.125		01/31/21		851
	27,720,000	United States Treasury Note		2.000		02/28/21		28,398
	3,240,000	United States Treasury Note		2.250		04/30/21		3,363
	16,465,000	United States Treasury Note		2.000		05/31/21		16,837
	1,730,000	United States Treasury Note		2.125		06/30/21		1,781
	11,825,000	United States Treasury Note		2.000		08/31/21		12,073
	133,872,000	United States Treasury Note		8.000		11/15/21		187,117
	90,000,000	United States Treasury Note		1.750		02/28/22		90,260

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	19,240,000		United States Treasury Note		2.250	%	11/15/24	$	19,778
	36,500,500		United States Treasury Note		2.000		02/15/25		36,731
			TOTAL U.S. TREASURY SECURITIES						1,242,449
			TOTAL GOVERNMENT BONDS						6,246,732
			(Cost $6,104,048)
STRUCTURED ASSETS - 14.6%
ASSET BACKED - 9.1%
	1,157,801	i	ACE Securities Corp Home Equity Loan Trust		0.664		08/25/35		1,141
			Series - 2005 HE5 (Class M2)
	13,000,000		AEP Texas Central Transition Funding LLC		1.976		06/01/21		13,125
			Series - 2012 1 (Class A2)
	2,500,000	g	AESOP Funding II		3.270		02/20/18		2,587
			Series - 2011 5A (Class A)
	5,140,514		Ally Auto Receivables Trust		0.540		07/15/16		5,140
			Series - 2013 2 (Class A2A)
	25,983,533		Ally Auto Receivables Trust		0.480		02/15/17		25,966
			Series - 2014 1 (Class A2)
	5,000,000	g	Ally Auto Receivables Trust		1.760		02/15/17		5,017
			Series - 2012 2 (Class B)
	35,000,000		Ally Auto Receivables Trust		0.710		03/20/17		34,996
			Series - 2014 SN2 (Class A2A)
	11,000,000	g	Ally Auto Receivables Trust		2.260		07/16/18		11,053
			Series - 2012 2 (Class C)
	10,000,000	g	Ally Master Owner Trust		4.250		04/15/17		10,014
			Series - 2010 2 (Class A)
	10,000,000		Ally Master Owner Trust		1.000		02/15/18		10,020
			Series - 2013 1 (Class A2)
	7,503,000		Ally Master Owner Trust		1.720		07/15/19		7,567
			Series - 2012 4 (Class A)
	8,710,000		Ally Master Owner Trust		1.540		09/15/19		8,741
			Series - 2012 5 (Class A)
	1,190,274		AmeriCredit Automobile Receivables Trust		3.190		10/12/16		1,192
			Series - 2011 2 (Class C)
	18,245,000		AmeriCredit Automobile Receivables Trust		1.590		07/10/17		18,292
			Series - 2012 3 (Class B)
	10,350,000		AmeriCredit Automobile Receivables Trust		3.440		10/08/17		10,463
			Series - 2011 5 (Class C)
	5,000,000		AmeriCredit Automobile Receivables Trust		5.050		12/08/17		5,179
			Series - 2011 5 (Class D)
	13,750,000		AmeriCredit Automobile Receivables Trust		2.420		05/08/18		13,906
			Series - 2012 3 (Class C)
	10,373,000		AmeriCredit Automobile Receivables Trust		1.690		11/08/18		10,432
			Series - 2012 5 (Class C)
	17,823,000		AmeriCredit Automobile Receivables Trust		1.570		01/08/19		17,817
			Series - 2013 1 (Class C)
	19,850,000		AmeriCredit Automobile Receivables Trust		1.790		03/08/19		19,849
			Series - 2013 2 (Class C)
	1,000,000		AmeriCredit Automobile Receivables Trust		1.270		07/08/19		1,001
			Series - 2014 4 (Class A3)

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	15,037,000	g	AmeriCredit Automobile Receivables Trust		4.460	%	11/08/19	$	15,528
			Series - 2012 3 (Class E)
	74,236	g	Asset Backed Funding Corp NIM Trust		5.900		07/26/35		0	^
			Series - 2006 WMC1 (Class N1)
	676,667	g	Avis Budget Rental Car Funding AESOP LLC		4.640		05/20/16		679
			Series - 2010 3A (Class A)
	1,333,333	g	Avis Budget Rental Car Funding AESOP LLC		6.740		05/20/16		1,339
			Series - 2010 3A (Class B)
	833,333	g	Avis Budget Rental Car Funding AESOP LLC		2.054		08/20/16		836
			Series - 2012 1A (Class A)
	583,333	g	Avis Budget Rental Car Funding AESOP LLC		3.241		08/20/16		585
			Series - 2012 1A (Class B)
	2,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.410		11/20/17		2,064
			Series - 2011 3A (Class A)
	5,500,000	g	Avis Budget Rental Car Funding AESOP LLC		4.740		11/20/17		5,725
			Series - 2011 3A (Class B)
	9,400,000	g	Avis Budget Rental Car Funding AESOP LLC		3.780		02/20/18		9,550
			Series - 2011 5A (Class C)
	11,125,000	g	Avis Budget Rental Car Funding AESOP LLC		4.720		02/20/18		11,633
			Series - 2011 5A (Class B)
	8,325,000	g	Avis Budget Rental Car Funding AESOP LLC		2.802		05/20/18		8,569
			Series - 2012 2A (Class A)
	4,890,000	g	Avis Budget Rental Car Funding AESOP LLC		3.887		05/20/18		5,069
			Series - 2012 2A (Class B)
	1,818,955	i	Bear Stearns Asset Backed Securities Trust		0.914		11/25/39		1,802
			Series - 2005 SD3 (Class 2A1)
	7,450,000	g	Cabela’s Master Credit Card Trust		2.290		09/17/18		7,508
			Series - 2010 2A (Class A1)
	4,000,000		California Republic Auto Receivables Trust		0.880		12/15/17		4,002
			Series - 2015 1 (Class A2)
	2,900,000		Capital Auto Receivables Asset Trust		1.290		04/20/18		2,898
			Series - 2013 1 (Class B)
	14,831,000		Capital Auto Receivables Asset Trust		1.740		10/22/18		14,885
			Series - 2013 1 (Class C)
	11,525,000		Capital Auto Receivables Asset Trust		2.190		09/20/21		11,549
			Series - 0 1 (Class D)
	8,000,000	g	Capital Automotive REIT		3.660		10/15/44		8,092
			Series - 2014 1A (Class A)
	7,489,790		CarMax Auto Owner Trust		0.520		11/15/16		7,488
			Series - 2013 4 (Class A2)
	21,000,000		CarMax Auto Owner Trust		0.800		07/16/18		20,989
			Series - 2013 4 (Class A3)
	9,934,630	i,m	CCR, Inc		0.620		07/10/17		9,692
			Series - 2010 CX (Class C)
	922,725	i	Chase Funding Mortgage Loan Asset-Backed Certificates		5.700		02/26/35		816
			Series - 2004 2 (Class 1M2)
	1,379,809	i	CIT Group Home Equity Loan Trust		6.200		02/25/30		1,376
			Series - 2002 1 (Class AF6)
	15,167,905	i	Connecticut Avenue Securities		1.674		02/25/25		15,272
			Series - 2015 C01 (Class 1M1)
	122,068	i	Countrywide Asset-Backed Certificates		0.994		05/25/36		122
			Series - 2004 AB2 (Class A3)

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	8,000,000	g	DB Master Finance LLC		3.262	%	02/20/45	$	8,076
			Series - 2015 1A (Class A2I)
	7,000,000	g	DB Master Finance LLC		3.980		02/20/45		7,149
			Series - 2015 1A (Class A2II)
	5,525,000	g,i	DB/UBS Mortgage Trust		5.558		11/10/46		6,270
			Series - 2011 LC1A (Class C)
	136,912,794	g	Dominos Pizza Master Issuer LLC		5.216		01/25/42		142,344
			Series - 2012 1A (Class A2)
	25,000,000	g	Drive Auto Receivables Trust		1.010		11/15/17		24,997
			Series - 2015 AA (Class A2)
	3,824,406	g	Enterprise Fleet Financing LLC		0.680		09/20/18		3,823
			Series - 2013 1 (Class A2)
	4,285,000		Ford Credit Auto Owner Trust		3.210		07/15/17		4,297
			Series - 2011 A (Class D)
	5,250,000		Ford Credit Auto Owner Trust		1.150		07/15/18		5,250
			Series - 2013 A (Class B)
	5,595,000		Ford Credit Auto Owner Trust		2.430		01/15/19		5,683
			Series - 2012 C (Class D)
	3,861,000		Ford Credit Floorplan Master		0.850		01/15/18		3,866
			Series - 0 1 (Class A1)
	16,190,000		Ford Credit Floorplan Master		1.880		09/15/18		16,328
			Series - 2013 5 (Class B)
	1,960,000		Ford Credit Floorplan Master Owner Trust		1.120		01/15/18		1,963
			Series - 2013 1 (Class B)
	1,060,000		GE Capital Credit Card Master Note Trust		0.950		06/15/18		1,061
			Series - 2012 5 (Class A)
	67,134,000	g	Hertz Vehicle Financing LLC		3.740		02/25/17		68,442
			Series - 2010 1A (Class A2)
	31,520,000	g	Hertz Vehicle Financing LLC		5.700		02/25/17		32,491
			Series - 2010 1A (Class B2)
	15,000,000	g	Hertz Vehicle Financing LLC		1.860		08/25/17		14,989
			Series - 2013 1A (Class B1)
	2,510,325	i	Irwin Home Equity Corp		0.934		02/25/34		2,431
			Series - 2005 A (Class A3)
	16,244,786	g	JG Wentworth XXII LLC		3.820		12/15/48		17,231
			Series - 2010 3A (Class A)
	3,479,168	i	Lehman XS Trust		0.424		02/25/36		3,304
			Series - 2006 1 (Class 1A1)
	13,789,909	i	Lehman XS Trust		6.500		06/25/46		10,777
			Series - 2006 13 (Class 2A1)
	3,208,622		Louisiana Public Facilities Authority		5.750		02/01/19		3,347
			Series - 2008 ELL (Class A2)
	13,295,435		Nissan Auto Lease Trust		0.480		09/15/16		13,284
			Series - 2014 A (Class A2A)
	45,500,000		Nissan Auto Lease Trust		0.740		10/15/18		45,540
			Series - 2013 A (Class A4)
	1,988,379	g	NYCTL Trust		1.030		11/10/27		1,986
			Series - 2014 A (Class A)
	1,074,418	i	Park Place Securities, Inc		1.119		09/25/34		1,077
			Series - 2004 WHQ1 (Class M1)
	23,561	i	Renaissance Home Equity Loan Trust		1.051		08/25/33		22
			Series - 2003 2 (Class A)

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	143,816	i	Residential Asset Securities Corp		6.489	%	10/25/30	$	145
			Series - 2001 KS2 (Class AI6)
	564,300	i	Residential Asset Securities Corp		0.819		04/25/35		565
			Series - 2005 KS3 (Class M3)
	1,417,735		Residential Funding Mortgage Securities II, Inc		5.500		08/25/25		1,423
			Series - 2006 HI5 (Class A3)
	1,453,040	i	Residential Funding Mortgage Securities II, Inc		5.950		08/25/34		1,500
			Series - 2005 HI1 (Class A5)
	743,726	i	Residential Funding Mortgage Securities II, Inc		6.010		02/25/36		746
			Series - 2006 HI1 (Class M1)
	350,000	i	Residential Funding Mortgage Securities II, Inc		6.060		02/25/36		364
			Series - 2006 HI1 (Class M2)
	2,723,687		Santander Drive Auto Receivables Trust		1.830		03/15/17		2,726
			Series - 2012 4 (Class B)
	14,300,000		Santander Drive Auto Receivables Trust		0.720		04/16/18		14,290
			Series - 2014 5 (Class A2A)
	7,010,000		Santander Drive Auto Receivables Trust		3.500		06/15/18		7,193
			Series - 2012 4 (Class D)
	18,990,000		Santander Drive Auto Receivables Trust		2.700		08/15/18		19,264
			Series - 2012 5 (Class C)
	8,384,000		Santander Drive Auto Receivables Trust		1.760		01/15/19		8,412
			Series - 2013 1 (Class C)
	5,830,000		Santander Drive Auto Receivables Trust		2.270		01/15/19		5,829
			Series - 2013 2013-1 (Class D)
	52,250,000		Santander Drive Auto Receivables Trust		1.620		02/15/19		52,363
			Series - 2014 2 (Class B)
	52,495,000		Santander Drive Auto Receivables Trust		2.250		06/17/19		53,083
			Series - 2013 5 (Class C)
	28,690,000	g	Santander Drive Auto Receivables Trust		1.890		10/15/19		28,854
			Series - 2013 A (Class B)
	20,615,000	g	Santander Drive Auto Receivables Trust		3.120		10/15/19		21,122
			Series - 2013 A (Class C)
	5,325,000		Santander Drive Auto Receivables Trust		2.910		04/15/20		5,380
			Series - 2014 1 (Class D)
	1,260,913	i	Securitized Asset Backed Receivables LLC		0.474		10/25/35		1,244
			Series - 2006 OP1 (Class A2C)
	400,477	g	Sierra Receivables Funding Co LLC		1.590		11/20/29		400
			Series - 2013 1A (Class A)
	10,478,510	g	Sierra Receivables Funding Co LLC		2.700		10/20/30		10,558
			Series - 2013 3A (Class B)
	11,801,026	g	Sierra Receivables Funding Co LLC		2.050		06/20/31		11,867
			Series - 2014 2A (Class A)
	4,859,246	g	Sierra Receivables Funding Co LLC		2.400		06/20/31		4,854
			Series - 2014 2A (Class B)
	15,000,000	g	Sierra Receivables Funding Co LLC		2.400		03/22/32		14,996
			Series - 2015 1A (Class A)
	41,823,000	g	SLM Student Loan Trust		3.740		02/15/29		44,066
			Series - 2011 B (Class A2)
	1,500,000	g	SLM Student Loan Trust		3.830		01/17/45		1,586
			Series - 2012 A (Class A2)
	4,657,945	g	SolarCity LMC		4.590		04/20/44		4,891
			Series - 2014 1 (Class A)

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,310,864	i	Soundview Home Equity Loan Trust		0.474	%	11/25/35	$	1,302
			Series - 2005 OPT3 (Class A4)
	50,466,907	g	SpringCastle America Funding LLC		2.700		05/25/23		50,593
			Series - 2014 AA (Class A)
	5,678,511	g,i	Structured Asset Securities Corp		0.394		10/25/36		5,622
			Series - 2006 GEL4 (Class A2)
	9,890,926	g	Volvo Financial Equipment LLC		0.540		11/15/16		9,886
			Series - 2014 1A (Class A2)
	7,998,719	g	Volvo Financial Equipment LLC		0.740		03/15/17		7,999
			Series - 2013 1A (Class A3)
	1,890,000	g	Vornado DP LLC		5.280		09/13/28		2,143
			Series - 2010 VNO (Class C)
	750,547	g,m	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		764
			Series - 2006 N1 (Class N1)
	1,349,692	g,i	Wachovia Loan Trust		0.534		05/25/35		1,309
			Series - 2005 SD1 (Class A)
	656,479	i	Wells Fargo Home Equity Trust		0.314		07/25/36		654
			Series - 2006 2 (Class A3)
	9,007,000		World Financial Network Credit Card Master Trust		5.200		04/15/19		9,078
			Series - 2010 A (Class M)
	2,500,000		World Financial Network Credit Card Master Trust		1.760		05/17/21		2,522
			Series - 2012 B (Class A)
	8,615,000		World Omni Automobile Lease Securitization Trust		1.400		02/15/19		8,671
			Series - 2013 A (Class A4)
			TOTAL ASSET BACKED						1,265,858
OTHER MORTGAGE BACKED - 5.5%
	10,500,000	g	Banc of America Commercial Mortgage Trust		5.416		01/15/49		11,019
			Series - 2007 1 (Class AM)
	14,549,000	i	Banc of America Commercial Mortgage Trust		5.482		01/15/49		15,160
			Series - 2007 1 (Class AMFX)
	18,825,000	i	Bear Stearns Commercial Mortgage Securities		5.954		09/11/42		20,340
			Series - 2007 T28 (Class AJ)
	4,500,000	i	Bear Stearns Commercial Mortgage Securities		5.878		06/11/50		4,668
			Series - 2007 PW17 (Class AJ)
	12,890,257	i	CHL Mortgage Pass-Through Trust		2.467		02/20/35		12,694
			Series - 2004 HYB9 (Class 1A1)
	1,500,000	i	Citigroup Commercial Mortgage Trust		5.975		03/15/49		1,553
			Series - 2006 C4 (Class AJ)
	1,205,058	i	Citigroup Commercial Mortgage Trust		5.713		12/10/49		1,241
			Series - 2007 C6 (Class ASB)
	2,500,000	i	Citigroup Commercial Mortgage Trust		5.899		12/10/49		2,662
			Series - 2007 C6 (Class AM)
	11,626,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		12,105
			Series - 2007 C3 (Class AJ)
	32,585,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		35,170
			Series - 2007 C3 (Class AM)
	15,000,000	i	COBALT CMBS Commercial Mortgage Trust		5.526		04/15/47		16,042
			Series - 2007 C2 (Class AMFX)
	11,055,000	i	COMM 2007-C9 Mortgage Trust		5.796		12/10/49		11,664
			Series - 2007 C9 (Class B)
	985,625		COMM 2015-LC19 Mortgage Trust		1.399		02/10/48		987
			Series - 2015 LC19 (Class A1)

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	11,550,000	i	Commercial Mortgage Trust		5.238	%	04/10/37	$	11,623
			Series - 2005 GG5 (Class AJ)
	1,915,133		Countrywide Alternative Loan Trust		5.500		08/25/16		1,957
			Series - 2004 30CB (Class 1A15)
	4,275,000		Credit Suisse Commercial Mortgage Trust		5.343		12/15/39		4,484
			Series - 2006 C5 (Class AM)
	10,500,000	i	Credit Suisse Commercial Mortgage Trust		5.625		01/15/49		11,025
			Series - 2007 C2 (Class AJ)
	2,000,000	i	Credit Suisse First Boston Mortgage Securities Corp		5.100		08/15/38		2,026
			Series - 2005 C5 (Class B)
	990,000	i	Credit Suisse First Boston Mortgage Securities Corp		5.100		08/15/38		1,002
			Series - 2005 C5 (Class C)
	3,920,000	i	Credit Suisse First Boston Mortgage Securities Corp		5.230		12/15/40		3,990
			Series - 2005 C6 (Class B)
	11,500,000	g	Credit Suisse Mortgage Capital Certificates		5.626		05/15/23		13,147
			Series - 2006 OMA (Class D)
	7,465,000		Credit Suisse Mortgage Capital Certificates		5.509		09/15/39		7,866
			Series - 2006 C4 (Class AM)
	11,235,000	g	Credit Suisse Mortgage Capital Certificates		5.383		02/15/40		11,573
			Series - 2009 RR1 (Class A3C)
	4,830,000	i	GE Commercial Mortgage Corp		5.606		12/10/49		5,076
			Series - 2007 C1 (Class AM)
	14,500,000	i	GS Mortgage Securities Corp II		5.553		04/10/38		14,910
			Series - 2006 GG6 (Class AM)
	5,910,000	g,i	GS Mortgage Securities Corp II		5.223		12/10/43		6,660
			Series - 2010 C2 (Class B)
	16,562,986	g	GS Mortgage Securities Trust		2.059		04/10/31		16,593
			Series - 2013 G1 (Class A1)
	11,004,000	i	GS Mortgage Securities Trust		5.553		04/10/38		11,158
			Series - 2006 GG6 (Class B)
	3,983,504	i	Harborview Mortgage Loan Trust		0.398		07/19/47		3,322
			Series - 2007 4 (Class 2A1)
	1,660,650	i	Impac CMB Trust		0.834		03/25/35		1,516
			Series - 2004 11 (Class 2A1)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp		5.277		07/15/46		7,206
			Series - 2011 C4 (Class C)
	7,965,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.911		07/15/42		7,996
			Series - 2005 LDP2 (Class C)
	8,145,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.360		02/15/46		9,088
			Series - 2011 C3 (Class C)
	59,112,193		JP Morgan Chase Commercial Mortgage Securities Trust		5.257		05/15/47		61,577
			Series - 2006 LDP9 (Class A1A)
	5,000,000		LB-UBS Commercial Mortgage Trust		5.484		02/15/40		5,217
			Series - 2007 C1 (Class AJ)
	1,400,000	i	LB-UBS Commercial Mortgage Trust		5.533		02/15/40		1,416
			Series - 2007 C1 (Class C)
	4,150,000	i	LB-UBS Commercial Mortgage Trust		5.563		02/15/40		4,077
			Series - 2007 C1 (Class D)
	750,000	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		812
			Series - 2007 C6 (Class AM)
	3,675,000	i	LB-UBS Commercial Mortgage Trust		5.057		09/15/40		3,716
			Series - 2005 C5 (Class AJ)

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	12,000,000	i	Merrill Lynch Mortgage Trust		5.282	%	11/12/37	$	12,111
			Series - 2005 CKI1 (Class B)
	5,880,000	g,i	Merrill Lynch Mortgage Trust		6.267		02/12/51		6,327
			Series - 2008 C1 (Class C)
	2,205,000	i	Merrill Lynch Mortgage Trust		6.267		02/12/51		2,421
			Series - 0 C1 (Class AJA)
	2,210,442	g,i	Merrill Lynch Mortgage Trust		6.267		02/12/51		2,427
			Series - 0 C1 (Class AJAF)
	21,695,000	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		22,521
			Series - 2007 6 (Class AM)
	2,265,000	g,i	Morgan Stanley Capital I Trust		5.877		08/12/41		2,355
			Series - 2006 T23 (Class B)
	8,700,000	i	Morgan Stanley Capital I Trust		5.389		11/12/41		8,977
			Series - 2006 HQ10 (Class AJ)
	348,705	i	Morgan Stanley Capital I Trust		4.840		12/13/41		348
			Series - 2005 T17 (Class AJ)
	1,000,000	i	Morgan Stanley Capital I Trust		5.271		08/13/42		1,000
			Series - 2005 HQ6 (Class F)
	12,300,000	i	Morgan Stanley Capital I Trust		5.793		07/12/44		12,897
			Series - 2006 HQ9 (Class AJ)
	500,000	i	Morgan Stanley Capital I Trust		5.832		07/12/44		517
			Series - 2006 HQ9 (Class B)
	8,315,000		Morgan Stanley Capital I Trust		5.569		12/15/44		8,888
			Series - 2007 HQ13 (Class A3)
	3,550,000	g,i	Morgan Stanley Capital I Trust		5.252		09/15/47		3,902
			Series - 2011 C1 (Class D)
	5,300,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		5,253
			Series - 2007 IQ15 (Class AJ)
	8,750,000	i	Morgan Stanley Capital I Trust		6.080		12/12/49		9,517
			Series - 2007 IQ16 (Class AMA)
	570,866		Residential Accredit Loans, Inc		4.350		03/25/34		578
			Series - 2004 QS4 (Class A1)
	569,826		RFMSI Trust		5.500		03/25/35		576
			Series - 2005 S2 (Class A6)
	1,552,635	g,i	Springleaf Mortgage Loan Trust		2.667		09/25/57		1,573
			Series - 2012 1A (Class A)
	1,950,096	g,i	Springleaf Mortgage Loan Trust		2.220		10/25/57		1,956
			Series - 0 2A (Class A)
	4,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.374		09/25/24		3,980
			Series - 2014 HQ2 (Class M2)
	5,185,918	i	Structured Agency Credit Risk Debt Note (STACR)		1.424		01/25/25		5,196
			Series - 2015 DN1 (Class M1)
	6,500,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.574		01/25/25		6,593
			Series - 2015 DN1 (Class M2)
	5,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		1.223		03/25/25		4,998
			Series - 2015 HQ1 (Class M1)
	9,000,000	g,i	Wachovia Bank Commercial Mortgage Trust		0.377		12/15/43		8,673
			Series - 2007 C30 (Class AMFL)
	35,625,000		Wachovia Bank Commercial Mortgage Trust		5.383		12/15/43		37,779
			Series - 2007 C30 (Class AM)
	32,910,000	i	Wachovia Bank Commercial Mortgage Trust		5.818		05/15/46		35,660
			Series - 2007 C34 (Class AM)

347

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	5,300,000	i	Wachovia Bank Commercial Mortgage Trust		5.947	%	05/15/46	$	5,587
			Series - 2007 C34 (Class AJ)
	7,175,000	i	Wachovia Bank Commercial Mortgage Trust		5.591		04/15/47		7,660
			Series - 2007 C31 (Class AM)
	4,500,000	i	Wachovia Bank Commercial Mortgage Trust		5.660		04/15/47		4,689
			Series - 2007 C31 (Class AJ)
	2,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.700		04/15/47		2,023
			Series - 2007 C31 (Class B)
	78,000,000	g	Wachovia Bank Commercial Mortgage Trust		5.703		06/15/49		83,857
			Series - 2007 C32 (Class AMFX)
	29,550,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		30,148
			Series - 2007 C32 (Class AJ)
	2,794,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		2,604
			Series - 2007 C32 (Class B)
	33,600,000	i	Wachovia Bank Commercial Mortgage Trust		5.953		02/15/51		36,403
			Series - 2007 C33 (Class AM)
	6,836,796	i	WaMu Mortgage Pass-Through Certificates		0.524		12/25/45		6,273
			Series - 2005 AR19 (Class A1B3)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust		5.276		11/15/43		5,324
			Series - 2010 C1 (Class B)
			TOTAL OTHER MORTGAGE BACKED						765,929
			TOTAL STRUCTURED ASSETS						2,031,787
			(Cost $2,024,943)
			TOTAL BONDS						13,234,378
			(Cost $12,894,585)
SHARES			COMPANY
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	470,597	*	Federal Home Loan Mortgage Corp						1,958
	1,527,061	*	Federal National Mortgage Association						6,352
			TOTAL BANKS						8,310
			TOTAL PREFERRED STOCKS						8,310
			(Cost $49,942)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 16.6%
GOVERNMENT AGENCY DEBT - 2.8%
$	140,000,000	w	Federal Home Loan Bank (FHLB)		0.040-0.045		04/06/15		139,999
	19,000,000		FHLB		0.065		04/08/15		19,000
	114,000,000	w	FHLB		0.052-0.063		04/10/15		113,999
	25,000,000		FHLB		0.055		04/15/15		25,000
	15,000,000		FHLB		0.070		05/01/15		14,999
	46,000,000		FHLB		0.050		05/08/15		45,998
	25,000,000		FHLB		0.067		06/03/15		24,997
			TOTAL GOVERNMENT AGENCY DEBT						383,992

348

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
TREASURY DEBT - 13.8%
$	21,600,000	w	United States Treasury Bill		0.087-0.108	%	04/02/15	$	21,600
	129,800,000	w	United States Treasury Bill		0.078-0.100		04/30/15		129,796
	109,300,000	w	United States Treasury Bill		0.081-0.095		05/28/15		109,294
	18,900,000		United States Treasury Bill		0.052		06/04/15		18,899
	169,000,000	w	United States Treasury Bill		0.073-0.101		06/25/15		168,995
	144,600,000	w	United States Treasury Bill		0.057-0.116		07/23/15		144,581
	72,000,000	w	United States Treasury Bill		0.062-0.065		08/06/15		71,985
	75,000,000	w	United States Treasury Bill		0.056-0.067		08/13/15		74,985
	254,000,000	w	United States Treasury Bill		0.086-0.106		08/20/15		253,935
	7,000,000		United States Treasury Bill		0.065		08/27/15		6,998
	24,000,000		United States Treasury Bill		0.093		09/10/15		23,990
	183,000,000	w	United States Treasury Bill		0.085-0.093		09/17/15		182,912
	218,000,000	w	United States Treasury Bill		0.091-0.108		10/15/15		217,845
	198,000,000	w	United States Treasury Bill		0.093-0.138		11/12/15		197,805
	150,000,000	w	United States Treasury Bill		0.132-0.150		12/10/15		149,818
	36,000,000	w	United States Treasury Bill		0.150		01/07/16		35,947
	50,000,000		United States Treasury Bill		0.249		03/03/16		49,887
	37,250,000	w	United States Treasury Note		2.125		05/31/15		37,364
			TOTAL TREASURY DEBT						1,896,636
			TOTAL SHORT-TERM INVESTMENTS						2,280,628
			(Cost $2,280,657)
			TOTAL INVESTMENTS - 113.9%						15,639,663
			(Cost $15,341,242)
			OTHER ASSETS & LIABILITIES, NET - (13.9)%						(1,907,233	)
			NET ASSETS - 100.0%					$	13,732,430

	Abbreviation(s):
COP	Columbian Peso
DOP	Dominican Peso
EUR	Euro
MXN	Mexican Peso
REIT	Real Estate Investment Trust
ZAR	South African Rand
*	Non-income producing
^	Amount represents less than $1,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 03/31/15 the aggregate value of these securities was $2,038,034,000, or 14.8% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
m	Indicates a security that has been deemed illiquid.
w	All or a portion of these securities have been segregated by the custodian to cover collateral requirements on mortgage dollar rolls.
	Cost amounts are in thousands.

349

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND
INFLATION-LINKED BOND ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2015

				VALUE
PRINCIPAL			ISSUER	(000)
GOVERNMENT BONDS - 99.7%
U.S. TREASURY SECURITIES - 99.7%
			United States Treasury Bond
$	7,000,000		3.000%, 11/15/44	$	7,671
	5,000,000		2.500%, 02/15/45		4,957
		k	United States Treasury Inflation Indexed Bonds
	297,459,055		0.125%, 04/15/16		300,503
	191,639,817		2.500%, 07/15/16		201,327
	173,870,584		2.375%, 01/15/17		184,235
	397,155,160		0.125%, 04/15/17		404,354
	137,252,043		2.625%, 07/15/17		149,047
	145,101,987		1.625%, 01/15/18		154,590
	314,069,402		0.125%, 04/15/18		320,474
	146,983,620		1.375%, 07/15/18		157,307
	144,252,750		2.125%, 01/15/19		158,813
	217,463,720		0.125%, 04/15/19		221,558
	134,650,560		1.875%, 07/15/19		148,463
	220,829,913		1.375%, 01/15/20		238,703
	285,771,368		1.250%, 07/15/20		309,794
	355,756,378		1.125%, 01/15/21		381,910
	337,883,922		0.625%, 07/15/21		354,197
	336,649,325		0.125%, 01/15/22		339,543
	393,362,280		0.125%, 07/15/22		397,603
	266,326,950		0.125%, 01/15/23		267,492
	51,224,400		0.375%, 07/15/23		52,541
	76,384,963		0.625%, 01/15/24		79,613
	68,908,000		0.125%, 07/15/24		68,930
	51,316,720		0.250%, 01/15/25		51,710
	220,429,510		2.375%, 01/15/25		267,305
	210,009,786		2.000%, 01/15/26		248,960
	157,865,334		2.375%, 01/15/27		194,865
	195,142,926		1.750%, 01/15/28		228,561
	137,328,230		3.625%, 04/15/28		193,837
	177,349,230		2.500%, 01/15/29		226,688
	166,484,417		3.875%, 04/15/29		244,641
	48,407,774		3.375%, 04/15/32		71,088
	78,566,616		2.125%, 02/15/40		105,009
	78,344,224		2.125%, 02/15/41		105,740
	222,714,932		0.750%, 02/15/42		225,534
	115,900,380		0.625%, 02/15/43		113,745
	100,794,465		1.375%, 02/15/44		118,654
	22,830,260		0.750%, 02/15/45		23,253
			United States Treasury Note
	11,000,000		1.500%, 11/30/19		11,082
			TOTAL U.S. TREASURY SECURITIES		7,334,297

350

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

	VALUE
	(000)
TOTAL GOVERNMENT BONDS
(Cost $6,815,144)	$	7,334,297
TOTAL INVESTMENTS - 99.7%		7,334,297
(Cost $6,815,144)
OTHER ASSETS AND LIABILITIES, NET - 0.3%		23,226
NET ASSETS - 100.0%	$	7,357,523

k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
	Cost amounts are in thousands.

351

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND
SOCIAL CHOICE ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2015

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.4%
ENERGY - 0.1%
$	781,801	i	Granite Acquisition, Inc		5.000	%	12/19/21	$	791
	17,723,779	i	Granite Acquisition, Inc		5.000		12/19/21		17,931
			TOTAL ENERGY						18,722
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	7,989,625	i	DaVita HealthCare Partners, Inc		3.500		06/24/21		8,001
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						8,001
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	891,867	i	Valeant Pharmaceuticals International, Inc		4.000		03/11/22		896
	683,133	i	Valeant Pharmaceuticals International, Inc		4.000		03/13/22		686
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						1,582
UTILITIES - 0.2%
	10,793,227	i	ExGen Renewables I LLC		5.250		02/06/21		10,847
	16,000,000	i	Terra-Gen Finance Co LLC		5.250		12/09/21		16,060
			TOTAL UTILITIES						26,907
			TOTAL BANK LOAN OBLIGATIONS						55,212
			(Cost $54,513)
BONDS - 39.0%
CORPORATE BONDS - 12.8%
AUTOMOBILES & COMPONENTS - 0.2%
	10,000,000		Ford Motor Co		4.750		01/15/43		10,935
	4,500,000		Johnson Controls, Inc		2.600		12/01/16		4,610
	3,250,000		Johnson Controls, Inc		5.000		03/30/20		3,631
	6,675,000		Magna International, Inc		3.625		06/15/24		6,801
			TOTAL AUTOMOBILES & COMPONENTS						25,977
BANKS - 2.9%
	24,500,000		Bank of America Corp		1.350		11/21/16		24,497
	9,800,000	g	Bank of Nova Scotia		2.150		08/03/16		9,997
	18,500,000	e	Bank of Nova Scotia		2.125		09/11/19		18,796
	7,375,000		BB&T Corp		1.600		08/15/17		7,421
	21,000,000	i	BOK Financial Corp		0.948		05/15/17		20,905
	7,000,000	g	Canadian Imperial Bank of Commerce		2.750		01/27/16		7,126
	7,025,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		7,272
	7,000,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		4.625		12/01/23		7,567
	13,000,000		Discover Bank		2.000		02/21/18		13,013

352

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	11,000,000		Discover Bank		4.200	%	08/08/23	$	11,635
	13,255,000		First Niagara Financial Group, Inc		6.750		03/19/20		14,680
	10,000,000		Huntington Bancshares, Inc		2.600		08/02/18		10,197
	7,325,000		Huntington National Bank		1.350		08/02/16		7,364
	12,000,000		Huntington National Bank		1.375		04/24/17		11,995
	8,000,000	g,i	ING Bank NV		0.821		03/16/18		7,998
	11,500,000	g	Intesa Sanpaolo S.p.A		5.017		06/26/24		11,770
	6,450,000		KeyBank NA		2.250		03/16/20		6,495
	9,913,000		Manufacturers & Traders Trust Co		6.625		12/04/17		11,202
	13,750,000		Manufacturers & Traders Trust Co		1.450		03/07/18		13,758
	4,644,000	i	Manufacturers & Traders Trust Co		5.585		12/28/20		4,787
	6,076,000	i	Manufacturers & Traders Trust Co		5.629		12/01/21		6,310
	2,475,000		Manufacturers & Traders Trust Co		2.900		02/06/25		2,454
	3,314,000		Northern Trust Corp		3.375		08/23/21		3,553
	18,257,000		People’s United Financial, Inc		3.650		12/06/22		18,603
	9,725,000		PNC Bank NA		2.200		01/28/19		9,850
	4,150,000		PNC Bank NA		2.700		11/01/22		4,130
	8,245,000		PNC Bank NA		2.950		01/30/23		8,274
	12,000,000		Regions Financial Corp		2.000		05/15/18		11,987
	10,000,000		Royal Bank of Canada		1.125		07/22/16		10,059
	7,500,000	i	Royal Bank of Canada		0.508		02/03/17		7,507
	11,500,000		Royal Bank of Canada		1.200		09/19/17		11,504
	26,450,000		Royal Bank of Canada		1.875		02/05/20		26,499
	9,750,000	g	Skandinaviska Enskilda Banken AB		1.750		03/19/18		9,782
	14,500,000	e,g	Skandinaviska Enskilda Banken AB		1.375		05/29/18		14,504
	20,000,000		SVB Financial Group		3.500		01/29/25		19,869
	9,250,000	g	Toronto-Dominion Bank		1.625		09/14/16		9,370
	5,300,000	g	Toronto-Dominion Bank		1.950		04/02/20		5,321
	5,000,000	g	Westpac Banking Corp		1.850		11/26/18		5,052
			TOTAL BANKS						413,103
CAPITAL GOODS - 0.7%
	2,500,000		3M Co		6.375		02/15/28		3,363
	6,700,000		Anixter, Inc		5.125		10/01/21		6,884
	2,500,000		Eaton Corp		4.000		11/02/32		2,629
	4,600,000		Ingersoll-Rand Global Holding Co Ltd		4.250		06/15/23		4,912
	2,100,000		Ingersoll-Rand Luxembourg Finance S.A.		3.550		11/01/24		2,135
	5,155,000		Pall Corp		5.000		06/15/20		5,740
	5,625,000		Parker-Hannifin Corp		4.200		11/21/34		6,131
	15,000,000		Pentair Finance S.A.		1.350		12/01/15		15,036
	6,980,000		Pentair Finance S.A.		2.650		12/01/19		6,987
	5,675,000		Precision Castparts Corp		2.500		01/15/23		5,592
	6,400,000		Rockwell Automation, Inc		2.050		03/01/20		6,463
	6,000,000		Rockwell Automation, Inc		2.875		03/01/25		6,048
	3,300,000		Rockwell Collins, Inc		3.100		11/15/21		3,432
	6,125,000		Rockwell Collins, Inc		3.700		12/15/23		6,552
	5,000,000		Roper Industries, Inc		3.125		11/15/22		4,982
	9,000,000		Trimble Navigation Ltd		4.750		12/01/24		9,489
			TOTAL CAPITAL GOODS						96,375
COMMERCIAL & PROFESSIONAL SERVICES - 0.4%
	4,000,000	g	AECOM Technology Corp		5.750		10/15/22		4,140
	5,300,000		Air Lease Corp		2.125		01/15/18		5,274

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	9,075,000		Air Lease Corp		3.875	%	04/01/21	$	9,347
	6,525,000		Air Lease Corp		4.250		09/15/24		6,721
	11,500,000		Fluor Corp		3.500		12/15/24		11,856
	4,750,000		Waste Management, Inc		2.600		09/01/16		4,836
	2,730,000		Waste Management, Inc		4.600		03/01/21		3,052
	10,000,000		Waste Management, Inc		3.500		05/15/24		10,411
	3,475,000		Waste Management, Inc		3.900		03/01/35		3,562
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						59,199
CONSUMER DURABLES & APPAREL - 0.0%
	5,000,000		Whirlpool Corp		5.150		03/01/43		5,680
			TOTAL CONSUMER DURABLES & APPAREL						5,680
CONSUMER SERVICES - 0.6%
	4,000,000		American National Red Cross		5.567		11/15/17		4,385
	20,000,000		Massachusetts Institute of Technology		3.959		07/01/38		21,499
	1,250,000		McDonald’s Corp		5.000		02/01/19		1,406
	19,000,000		Metropolitan Museum of Art		3.400		07/01/45		18,448
	7,550,000		Nature Conservancy		6.300		07/01/19		8,572
	17,500,000		New York Public Library Astor Lenox & Tilden Foundations		4.305		07/01/45		17,700
	5,145,000		Salvation Army		5.637		09/01/26		5,746
	2,275,000		Service Corp International		5.375		01/15/22		2,377
	13,625,000		Service Corp International		5.375		05/15/24		14,238
			TOTAL CONSUMER SERVICES						94,371
DIVERSIFIED FINANCIALS - 1.0%
	9,000,000		American Express Credit Corp		2.125		07/27/18		9,174
	5,450,000	i	Bank of New York Mellon Corp		1.969		06/20/17		5,551
	2,675,000		Bank of New York Mellon Corp		5.450		05/15/19		3,047
	4,000,000	g	Caisse Centrale Desjardins du Quebec		2.550		03/24/16		4,075
	14,750,000	g	Caisse Centrale Desjardins du Quebec		1.600		03/06/17		14,927
	5,000,000		Discover Financial Services		3.750		03/04/25		5,037
	9,000,000	g	EDP Finance BV		4.125		01/15/20		9,315
	9,500,000	g	EDP Finance BV		5.250		01/14/21		10,297
	9,000,000	i	Ford Motor Credit Co LLC		1.506		05/09/16		9,064
	8,500,000	i	Ford Motor Credit Co LLC		1.192		01/09/18		8,523
	16,375,000		Ford Motor Credit Co LLC		2.375		01/16/18		16,660
	24,000,000	i	Ford Motor Credit Co LLC		1.182		11/04/19		24,020
	8,500,000		Invesco Finance plc		3.125		11/30/22		8,587
	2,300,000		Legg Mason, Inc		3.950		07/15/24		2,400
	9,750,000	g	RCI Banque S.A.		3.500		04/03/18		10,179
			TOTAL DIVERSIFIED FINANCIALS						140,856
ENERGY - 1.3%
	3,000,000	e,g	California Resources Corp		6.000		11/15/24		2,629
	4,145,000		Continental Resources, Inc		5.000		09/15/22		4,088
	3,740,000	i	Devon Energy Corp		0.721		12/15/15		3,734
	2,500,000		Devon Energy Corp		6.300		01/15/19		2,865
	3,000,000		EOG Resources, Inc		4.100		02/01/21		3,238
	8,450,000		EOG Resources, Inc		3.900		04/01/35		8,702
	1,526,000		Marathon Oil Corp		5.900		03/15/18		1,692
	7,450,000		Marathon Petroleum Corp		4.750		09/15/44		7,582
	3,025,000	e	National Oilwell Varco, Inc		1.350		12/01/17		2,998

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,500,000		Noble Energy, Inc		8.250	%	03/01/19	$	2,991
	3,290,000		Noble Energy, Inc		5.050		11/15/44		3,453
	9,886,000	e	Noble Holding International Ltd		2.500		03/15/17		9,732
	3,425,000		Noble Holding International Ltd		4.000		03/16/18		3,443
	2,150,000	e	Noble Holding International Ltd		3.950		03/15/22		1,909
	18,500,000	e	Noble Holding International Ltd		5.950		04/01/25		18,065
	18,500,000	e	Noble Holding International Ltd		6.950		04/01/45		17,537
	2,150,000	g	Northern Natural Gas Co		4.100		09/15/42		2,314
	9,000,000		Phillips 66		4.650		11/15/34		9,537
	2,575,000		Southwestern Energy Co		3.300		01/23/18		2,624
	5,300,000		Southwestern Energy Co		4.050		01/23/20		5,477
	5,000,000		Spectra Energy Capital LLC		5.650		03/01/20		5,508
	9,000,000	i	Statoil ASA		0.456		11/09/17		8,970
	9,000,000	i	Statoil ASA		0.547		05/15/18		8,970
	9,500,000		Statoil ASA		3.150		01/23/22		9,911
	9,500,000		Statoil ASA		2.650		01/15/24		9,331
	4,000,000		Statoil ASA		3.950		05/15/43		4,094
	12,150,000	g	Texas Eastern Transmission LP		2.800		10/15/22		11,686
	6,175,000		Weatherford International Ltd		4.500		04/15/22		5,644
	12,350,000	g	Woodside Finance Ltd		3.650		03/05/25		12,239
			TOTAL ENERGY						190,963
FOOD & STAPLES RETAILING - 0.1%
	6,900,000		Kroger Co		1.200		10/17/16		6,919
	3,000,000		Kroger Co		2.200		01/15/17		3,051
	8,000,000		Kroger Co		2.300		01/15/19		8,116
	1,451,000		Safeway, Inc		3.400		12/01/16		1,447
			TOTAL FOOD & STAPLES RETAILING						19,533
FOOD, BEVERAGE & TOBACCO - 0.2%
	1,800,000	g	JM Smucker Co		1.750		03/15/18		1,807
	5,100,000	g	JM Smucker Co		3.000		03/15/22		5,176
	9,000,000	g	JM Smucker Co		4.250		03/15/35		9,322
	4,678,000		Kellogg Co		4.000		12/15/20		5,065
	428,000		PepsiCo, Inc		7.900		11/01/18		519
	3,526,000		PepsiCo, Inc		3.600		08/13/42		3,420
			TOTAL FOOD, BEVERAGE & TOBACCO						25,309
HEALTH CARE EQUIPMENT & SERVICES - 0.4%
	4,000,000		Becton Dickinson & Co		5.000		05/15/19		4,472
	2,000,000		Becton Dickinson & Co		6.000		05/15/39		2,550
	7,000,000	i	Becton Dickinson and Co		0.721		06/15/16		7,009
	9,750,000		Laboratory Corp of America Holdings		2.500		11/01/18		9,956
	3,250,000		Laboratory Corp of America Holdings		2.625		02/01/20		3,270
	9,000,000		Laboratory Corp of America Holdings		3.200		02/01/22		9,111
	2,500,000		Laboratory Corp of America Holdings		3.600		02/01/25		2,510
	3,500,000		LifePoint Hospitals, Inc		5.500		12/01/21		3,666
	9,000,000	g,i,j	Medtronic, Inc		0.000		03/15/20		9,099
	2,500,000		Medtronic, Inc		6.500		03/15/39		3,432
	5,375,000		Owens & Minor, Inc		3.875		09/15/21		5,623
	5,000,000		Thermo Fisher Scientific, Inc		1.300		02/01/17		5,002
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						65,700

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
$	3,750,000		Clorox Co		3.800	%	11/15/21	$	4,049
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						4,049
INSURANCE - 0.5%
	8,000,000	i	Berkshire Hathaway Finance Corp		0.553		01/12/18		8,013
	10,120,000	g	Five Corners Funding Trust		4.419		11/15/23		10,857
	1,250,000	g,i	Merna Reinsurance IV Ltd		2.520		04/08/16		1,254
	3,100,000		Progressive Corp		3.750		08/23/21		3,364
	9,000,000		Progressive Corp		3.700		01/26/45		8,955
	15,000,000	i	Prudential Financial, Inc		5.200		03/15/44		15,270
	9,535,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		9,519
	8,687,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		9,294
	2,000,000		Travelers Cos, Inc		5.900		06/02/19		2,328
			TOTAL INSURANCE						68,854
MATERIALS - 0.7%
	4,405,000		Agrium, Inc		3.150		10/01/22		4,417
	2,275,000		Ball Corp		5.000		03/15/22		2,377
	8,930,000		Ball Corp		4.000		11/15/23		8,707
	5,750,000		Domtar Corp		4.400		04/01/22		5,943
	2,300,000		Eastman Chemical Co		5.500		11/15/19		2,601
	7,050,000		Eastman Chemical Co		2.700		01/15/20		7,152
	1,000,000		Eastman Chemical Co		4.650		10/15/44		1,050
	5,000,000		International Paper Co		6.000		11/15/41		5,935
	4,000,000		International Paper Co		4.800		06/15/44		4,115
	9,350,000		LyondellBasell Industries NV		4.625		02/26/55		9,245
	5,000,000		MeadWestvaco Corp		7.375		09/01/19		5,943
	5,000,000		Nucor Corp		4.000		08/01/23		5,246
	4,000,000		Praxair, Inc		2.450		02/15/22		4,012
	19,490,000		Rock Tenn Co		3.500		03/01/20		20,233
	8,000,000		Sherwin-Williams Co		1.350		12/15/17		8,010
			TOTAL MATERIALS						94,986
MEDIA - 0.1%
	7,225,000		Time Warner Cable, Inc		8.250		04/01/19		8,837
	5,500,000	e	Time Warner Cable, Inc		4.500		09/15/42		5,688
			TOTAL MEDIA						14,525
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.5%
	12,733,000		Bristol-Myers Squibb Co		3.250		08/01/42		11,904
	5,700,000		Gilead Sciences, Inc		4.500		02/01/45		6,328
	4,600,000		Johnson & Johnson		2.150		05/15/16		4,687
	16,219,000		Johnson & Johnson		4.375		12/05/33		18,592
	8,080,000		Life Technologies Corp		3.500		01/15/16		8,238
	8,500,000	i	Merck & Co, Inc		0.631		02/10/20		8,534
	4,000,000	g	Roche Holdings, Inc		4.000		11/28/44		4,319
	4,750,000	g	Valeant Pharmaceuticals International, Inc		6.375		10/15/20		4,934
	475,000	g	Valeant Pharmaceuticals International, Inc		5.625		12/01/21		482
	9,000,000	g	VRX Escrow Corp		5.375		03/15/20		9,090
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						77,108

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
REAL ESTATE - 0.4%
$	8,907,000		Equity One, Inc		3.750	%	11/15/22	$	9,039
	1,400,000		Federal Realty Investment Trust		5.900		04/01/20		1,630
	8,000,000		Federal Realty Investment Trust		2.750		06/01/23		7,902
	3,400,000		Healthcare Realty Trust, Inc		5.750		01/15/21		3,841
	1,250,000		Kilroy Realty LP		5.000		11/03/15		1,277
	16,355,000		Kilroy Realty LP		3.800		01/15/23		16,754
	10,000,000		Regency Centers LP		3.750		06/15/24		10,308
	2,400,000		Ventas Realty LP		3.250		08/15/22		2,408
			TOTAL REAL ESTATE						53,159
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	3,375,000		CC Holdings GS V LLC		2.381		12/15/17		3,403
	10,000,000	i	Hewlett-Packard Co		1.193		01/14/19		9,901
	5,475,000		Motorola Solutions, Inc		3.500		09/01/21		5,612
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						18,916
TELECOMMUNICATION SERVICES - 0.3%
	3,400,000	e	CenturyLink, Inc		6.750		12/01/23		3,744
	12,825,000		Sprint Corp		7.250		09/15/21		12,889
	9,500,000		Verizon Communications, Inc		1.350		06/09/17		9,505
	8,000,000		Verizon Communications, Inc		4.400		11/01/34		8,150
	9,750,000		Vodafone Group plc		1.500		02/19/18		9,742
			TOTAL TELECOMMUNICATION SERVICES						44,030
TRANSPORTATION - 0.7%
	9,500,000	i	Canadian National Railway Co		0.427		11/14/17		9,486
	6,500,000		CSX Corp		4.100		03/15/44		6,770
	2,545,000		GATX Corp		2.500		07/30/19		2,565
	23,500,000		GATX Corp		2.600		03/30/20		23,563
	7,250,000		GATX Corp		5.200		03/15/44		8,132
	2,500,000		Norfolk Southern Corp		5.750		01/15/16		2,595
	5,000,000		Norfolk Southern Corp		3.250		12/01/21		5,210
	12,775,000		Norfolk Southern Corp		3.000		04/01/22		13,106
	6,894,000		Norfolk Southern Corp		2.903		02/15/23		6,940
	475,000		Norfolk Southern Corp		5.590		05/17/25		570
	6,900,000		Ryder System, Inc		2.550		06/01/19		7,003
	3,450,000		Southwest Airlines Co		2.750		11/06/19		3,528
	4,050,000		Union Pacific Corp		3.375		02/01/35		3,957
	1,360,000	i	United Parcel Service of America, Inc (Step Bond 8.375% until 04/01/20, 7.620% until 04/01/30)		8.375		04/01/30		2,070
			TOTAL TRANSPORTATION						95,495
UTILITIES - 1.7%
	1,650,000		Arizona Public Service Co		4.500		04/01/42		1,863
	2,000,000		Atmos Energy Corp		8.500		03/15/19		2,484
	1,200,000		Connecticut Light & Power Co		5.500		02/01/19		1,366
	2,000,000		Connecticut Light & Power Co		5.750		03/01/37		2,642
	9,114,312	g	Continental Wind LLC		6.000		02/28/33		10,175
	1,324,657	g	Great River Energy		5.829		07/01/17		1,395
	3,375,000	g	International Transmission Co		4.625		08/15/43		3,896
	7,575,000		Interstate Power & Light Co		3.250		12/01/24		7,788
	9,250,000	g	Narragansett Electric Co		4.170		12/10/42		9,804

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	9,450,000		NextEra Energy Capital Holdings, Inc		2.700	%	09/15/19	$	9,683
	9,600,000	g	Niagara Mohawk Power Corp		4.278		10/01/34		10,474
	9,750,000	g	Niagara Mohawk Power Corp		4.119		11/28/42		10,335
	6,000,000		Northeast Utilities		1.450		05/01/18		5,958
	1,500,000		Northwest Natural Gas Co		5.620		11/21/23		1,811
	10,000,000		NorthWestern Corp		4.176		11/15/44		10,894
	1,065,000	i	NSTAR Electric Co		0.497		05/17/16		1,064
	630,000		Public Service Co of Colorado		4.750		08/15/41		753
	10,000,000		Public Service Co of New Hampshire		3.500		11/01/23		10,648
	13,000,000	i	San Diego Gas & Electric Co		0.468		03/09/17		12,997
	5,500,000		San Diego Gas & Electric Co		3.000		08/15/21		5,754
	6,875,000		San Diego Gas & Electric Co		1.914		02/01/22		6,917
	620,000		San Diego Gas & Electric Co		6.000		06/01/39		846
	8,875,000		Sierra Pacific Power Co		3.375		08/15/23		9,355
	22,500,000	g	Solar Star Funding LLC		3.950		06/30/35		23,081
	2,950,000	g	Solar Star Funding LLC		5.375		06/30/35		3,359
	7,500,000	g	TerraForm Power Operating LLC		5.875		02/01/23		7,781
	5,000,000	g	Texas Eastern Transmission LP		4.125		12/01/20		5,345
	19,385,000	g	Topaz Solar Farms LLC		4.875		09/30/39		21,364
	14,500,000	g	Topaz Solar Farms LLC		5.750		09/30/39		17,067
	5,000,000		Washington Gas Light Co		5.440		08/11/25		5,726
	16,525,000		WGL Holdings, Inc		2.250		11/01/19		16,572
	4,975,000		Wisconsin Power & Light Co		4.100		10/15/44		5,399
			TOTAL UTILITIES						244,596
			TOTAL CORPORATE BONDS						1,852,784
			(Cost $1,793,936)
GOVERNMENT BONDS - 23.6%
AGENCY SECURITIES - 4.1%
	6,284,258		Cal Dive I- Title XI, Inc		4.930		02/01/27		7,120
	6,161,816		COP I LLC		3.613		12/05/21		6,555
	5,500,000		Federal Home Loan Bank (FHLB)		5.000		11/17/17		6,086
	17,166,667		FHLB		2.350		08/08/22		17,062
	7,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.500		01/27/17		6,987
	5,000,000		FHLMC		1.000		09/29/17		5,015
	6,400,000		Federal National Mortgage Association (FNMA)		1.125		04/27/17		6,457
	7,000,000		FNMA		1.625		01/21/20		7,034
	15,500,000		FNMA		2.625		09/06/24		16,041
	1,096,000	j	Government Trust Certificate		0.000		04/01/19		1,025
	5,000,000	j	Government Trust Certificate		0.000		04/01/21		4,274
	33,000,000		Hashemite Kingdom of Jordan Government AID Bond		2.503		10/30/20		34,506
	8,475,000	g	Hospital for Special Surgery		3.500		01/01/23		8,784
	9,000,000	i	India Government AID Bond		0.355		02/01/27		8,565
	7,040,000		Lutheran Medical Center		1.982		02/20/30		6,844
	10,840,000		Micron Semiconductor Asia Pte Ltd		1.258		01/15/19		10,815
	4,225,000	g	Montefiore Medical Center		3.896		05/20/27		4,350
	230,543		National Credit Union Administration		1.840		10/07/20		232
	2,750,000	j	Overseas Private Investment Corp (OPIC)		0.000		04/30/15		2,797
	10,750,000	j	OPIC		0.000		11/17/17		10,856
	3,000,000	j	OPIC		0.000		04/30/18		3,183
	5,700,000	j	OPIC		0.000		11/15/19		5,814

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,144,331	OPIC		2.290	%	09/15/26	$	5,242
	2,829,939	OPIC		2.040		12/15/26		2,836
	7,666,644	OPIC		4.440		02/27/27		8,756
	9,750,000	OPIC		2.740		09/15/29		9,734
	13,500,000	OPIC		3.280		09/15/29		14,102
	2,483,210	OPIC		2.610		04/15/30		2,452
	4,560,000	OPIC		2.930		05/15/30		4,629
	7,536,000	OPIC		3.040		05/15/30		7,801
	8,970,611	OPIC		3.540		06/15/30		9,681
	2,267,215	OPIC		2.310		11/15/30		2,195
	23,037,313	OPIC		3.370		12/15/30		24,543
	23,127,185	OPIC		3.820		12/20/32		25,289
	14,920,765	OPIC		3.938		12/20/32		16,354
	12,500,000	OPIC		3.160		06/01/33		12,849
	12,000,000	OPIC		3.430		06/01/33		12,699
	4,598,118	Premier Aircraft Leasing		3.576		02/06/22		4,891
	1,050,000	Private Export Funding Corp (PEFCO)		4.550		05/15/15		1,055
	9,750,000	PEFCO		2.125		07/15/16		9,947
	11,750,000	PEFCO		1.375		02/15/17		11,833
	8,000,000	PEFCO		2.250		12/15/17		8,228
	5,000,000	PEFCO		4.375		03/15/19		5,525
	5,854,000	PEFCO		1.450		08/15/19		5,808
	16,150,000	PEFCO		2.250		03/15/20		16,511
	17,500,000	PEFCO		4.300		12/15/21		19,904
	8,250,000	PEFCO		2.050		11/15/22		8,099
	4,000,000	PEFCO		3.550		01/15/24		4,340
	5,335,000	PEFCO		2.450		07/15/24		5,311
	3,157,551	Tayarra Ltd		3.628		02/15/22		3,365
	3,062,313	Tricahue Leasing LLC		3.503		11/19/21		3,249
	9,250,000	Ukraine Government AID Bonds		1.844		05/16/19		9,409
	8,541,667	Ulani MSN 35940 LLC		2.227		05/16/25		8,633
	5,375,000	United States Department of Housing and Urban Development (HUD)		2.200		08/01/15		5,412
	750,000	HUD		2.050		08/01/19		773
	9,500,000	HUD		4.870		08/01/19		10,820
	3,217,000	HUD		2.910		08/01/23		3,374
	5,250,000	HUD		4.330		08/01/15		5,322
	3,894,000	HUD		2.910		08/01/17		4,084
	8,000,000	HUD		4.560		08/01/17		8,688
	10,750,000	HUD		1.770		08/01/18		10,942
	5,007,000	HUD		5.380		08/01/18		5,345
	13,967,000	HUD		4.960		08/01/20		16,078
	13,500,000	HUD		5.050		08/01/21		15,559
	7,920,000	UNM Sandoval Regional Medical Center		4.500		07/20/36		8,354
	8,830,818	Ethiopian Leasing 2012 LLC		2.566		08/14/26		9,043
	4,332,678	Export Lease Ten Co LLC		1.650		05/07/25		4,253
	9,000,000	Mexican Aircraft Finance V LLC		2.329		01/14/27		9,112
	7,000,000	NCUA Guaranteed Notes		3.450		06/12/21		7,619
	7,000,000	VRG Linhas Aereas S.A.		0.983		03/13/18		6,989
	8,839,253	Zarapito Leasing LLC		2.628		11/12/26		9,094
		TOTAL AGENCY SECURITIES						606,533

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
FOREIGN GOVERNMENT BONDS - 5.1%
$	24,000,000		African Development Bank		0.750	%	10/18/16	$	24,067
	13,550,000	e	African Development Bank		2.375		09/23/21		14,060
	17,500,000		Asian Development Bank		2.125		03/19/25		17,651
	6,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		6,110
	6,300,000		Canada Government International Bond		0.875		02/14/17		6,331
	9,000,000		Canada Government International Bond		1.125		03/19/18		9,037
	8,018,837	g	Carpintero Finance Ltd		2.004		09/18/24		8,024
	14,250,000		Council of Europe Development Bank		1.000		03/07/18		14,236
	44,000,000		European Bank for Reconstruction & Development		1.625		04/10/18		44,477
	38,000,000	e	European Investment Bank		2.500		10/15/24		39,568
	2,000,000		European Investment Bank		4.875		02/15/36		2,692
	38,470,000		Export Development Canada		0.875		01/30/17		38,595
	9,000,000		Export Development Canada		1.625		12/03/19		9,074
	18,175,000		Export-Import Bank of Korea		1.750		02/27/18		18,156
	15,300,000		Hydro Quebec		2.000		06/30/16		15,567
	6,082,000		Hydro Quebec		8.400		01/15/22		8,256
	10,200,000		Hydro-Quebec		1.375		06/19/17		10,296
	33,750,000		Inter-American Development Bank		1.500		09/25/18		34,117
	19,000,000	i	International Bank for Reconstruction & Development		0.197		07/22/15		18,996
	25,000,000		International Bank for Reconstruction & Development		0.375		08/24/15		25,015
	3,000,000		International Bank for Reconstruction & Development		2.000		10/20/16		3,063
	24,500,000	e	International Finance Corp		0.500		05/15/15		24,501
	24,000,000		International Finance Corp		0.500		05/16/16		24,023
	29,000,000	g,i	International Finance Facility for Immunisation		0.446		07/05/16		29,004
	2,850,000		Italy Government International Bond		5.375		06/12/17		3,099
	5,000,000		KFW		1.000		01/26/18		5,007
	48,000,000		KFW		1.750		10/15/19		48,728
	11,500,000		KFW		1.500		04/20/20		11,494
	10,000,000		KFW		2.625		01/25/22		10,550
	19,000,000	g	Kommunalbanken AS.		0.750		11/21/16		19,030
	12,500,000	g	Kommunalbanken AS.		2.125		02/11/25		12,362
	9,637,000		Landwirtschaftliche Rentenbank		2.000		01/13/25		9,613
	7,500,000	e,g	National Bank of Canada		2.200		10/19/16		7,657
	14,845,000		North American Development Bank		2.300		10/10/18		15,155
	33,575,000		North American Development Bank		2.400		10/26/22		33,186
	5,000,000		Province of British Columbia Canada		1.200		04/25/17		5,037
	15,250,000	e	Province of Manitoba Canada		1.750		05/30/19		15,427
	15,000,000		Province of Manitoba Canada		2.100		09/06/22		15,006
	12,700,000		Province of Manitoba Canada		3.050		05/14/24		13,466
	10,000,000		Province of New Brunswick Canada		2.750		06/15/18		10,474
	15,000,000		Province of Ontario Canada		2.300		05/10/16		15,291
	9,500,000	e	Province of Ontario Canada		1.200		02/14/18		9,515
	5,000,000	e	Province of Ontario Canada		4.400		04/14/20		5,654
	10,000,000		Province of Quebec Canada		3.500		07/29/20		10,864
	5,000,000		Province of Quebec Canada		7.500		09/15/29		7,581
			TOTAL FOREIGN GOVERNMENT BONDS						729,112
MORTGAGE BACKED - 8.0%
	11,891,968		Federal Home Loan Mortgage Corp (FHLMC)		4.000		10/15/23		12,883
	5,650,923		FHLMC		4.000		03/15/44		6,029
	32,788		Federal Home Loan Mortgage Corp Gold (FGLMC)		6.500		12/01/16		34
	91,129		FGLMC		6.000		12/01/17		95
	1,434,829		FGLMC		4.500		01/01/19		1,511

360

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	502,602		FGLMC		5.500	%	01/01/19	$	530
	446,169		FGLMC		5.000		02/01/19		469
	200,465		FGLMC		4.500		01/01/20		211
	62,585		FGLMC		4.500		07/01/20		67
	85,802		FGLMC		7.000		10/01/20		92
	468,772		FGLMC		4.500		06/01/21		495
	1,594,253		FGLMC		4.500		06/01/21		1,682
	289,259		FGLMC		4.500		03/01/23		310
	208,966		FGLMC		5.000		04/01/23		227
	7,855		FGLMC		7.000		05/01/23		9
	762,612		FGLMC		4.000		07/01/24		811
	249,885		FGLMC		4.500		09/01/24		269
	9,000,000	h	FGLMC		3.000		04/15/30		9,422
	9,000,000	h	FGLMC		3.500		04/15/30		9,556
	25,047		FGLMC		8.000		01/01/31		29
	614,003		FGLMC		4.500		07/01/33		671
	1,053,122		FGLMC		5.500		09/01/33		1,192
	873,465		FGLMC		5.500		09/01/33		979
	1,553,982		FGLMC		5.500		12/01/33		1,756
	3,669,059		FGLMC		7.000		12/01/33		4,401
	1,300,545		FGLMC		7.000		05/01/35		1,581
	184,542		FGLMC		5.000		02/01/36		205
	12,892		FGLMC		6.500		05/01/36		15
	935,267		FGLMC		5.000		07/01/39		1,036
	3,832,847		FGLMC		4.500		11/01/40		4,286
	4,335,639		FGLMC		4.500		12/01/40		4,835
	2,962,915		FGLMC		3.500		01/01/41		3,111
	7,737,881		FGLMC		3.500		04/01/44		8,184
	10,510,781		FGLMC		4.000		08/01/44		11,421
	8,773,447		FGLMC		4.000		09/01/44		9,566
	970,677		FGLMC		4.500		10/01/44		1,085
	1,434,153		FGLMC		4.500		11/01/44		1,604
	1,127,158		FGLMC		4.500		11/01/44		1,261
	897,329		FGLMC		4.500		12/01/44		1,004
	583,004		FGLMC		4.500		12/01/44		652
	20,000,000	h	FGLMC		3.000		04/15/45		20,406
	23,000,000	h	FGLMC		3.500		04/15/45		24,112
	11,000,000	h	FGLMC		4.000		04/15/45		11,751
	11,000,000	h	FGLMC		3.000		05/15/45		11,197
	8,000,000	h	FGLMC		4.000		05/15/45		8,532
	15,999		Federal National Mortgage Association (FNMA)		6.500		10/01/16		16
	118,395		FNMA		6.500		04/01/17		123
	46,458		FNMA		6.500		02/01/18		49
	1,062,629		FNMA		5.500		11/01/18		1,124
	765,417		FNMA		5.000		12/01/18		811
	704,075		FNMA		5.000		01/01/19		746
	25,647		FNMA		4.500		03/01/19		27
	100,694		FNMA		4.500		11/01/20		106
	720,362		FNMA		5.500		08/01/21		785
	269,820		FNMA		4.500		03/01/23		289
	12,587		FNMA		8.000		03/01/23		13
	822,149		FNMA		5.000		07/01/23		893
	436,689		FNMA		4.000		05/01/24		462

361

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	34,503		FNMA		8.000	%	07/01/24	$	42
	634,743		FNMA		4.500		08/01/24		684
	2,562,519		FNMA		4.000		09/01/24		2,713
	10,000,000	h	FNMA		2.500		04/25/30		10,268
	19,000,000	h	FNMA		3.000		04/25/30		19,914
	23,000,000	h	FNMA		2.500		05/25/30		23,570
	489,922		FNMA		6.500		07/01/32		575
	390,507		FNMA		4.500		03/25/33		402
	5,447,761		FNMA		3.000		10/01/33		5,648
	9,628,371		FNMA		5.000		10/01/33		10,798
	644,277		FNMA		5.000		11/01/33		730
	85,097		FNMA		7.000		01/01/34		92
	2,424,288		FNMA		5.500		03/01/34		2,746
	3,846,384		FNMA		3.500		03/25/34		4,014
	9,018,153		FNMA		3.000		01/01/35		9,348
	34,977		FNMA		7.500		06/01/35		38
	1,950,816		FNMA		5.500		08/01/37		2,209
	2,014,597		FNMA		5.500		09/01/37		2,267
	898,848		FNMA		6.000		09/01/37		1,042
	831,637		FNMA		6.000		09/01/37		966
	266,564		FNMA		6.500		09/01/37		306
	1,017,647		FNMA		5.500		01/01/38		1,149
	18,546		FNMA		6.500		02/01/38		21
	2,103,744		FNMA		5.500		04/01/38		2,368
	1,611,852		FNMA		5.500		06/01/38		1,814
	3,903,595		FNMA		5.500		11/01/38		4,524
	6,619,178		FNMA		5.500		12/01/38		7,577
	6,848,884		FNMA		4.000		02/01/39		7,329
	43,326	h	FNMA		4.500		04/01/39		48
	451,523		FNMA		4.000		07/01/39		493
	2,256,358		FNMA		5.500		08/01/39		2,577
	927,377		FNMA		4.500		10/01/39		1,014
	590,688		FNMA		5.500		11/01/39		665
	71,910	h	FNMA		4.500		02/01/40		79
	1,000,825		FNMA		4.500		06/01/40		1,095
	816,382		FNMA		5.000		08/01/40		909
	3,821,000		FNMA		4.000		08/25/40		4,099
	4,104,269		FNMA		5.000		09/01/40		4,567
	792,572		FNMA		4.500		10/01/40		873
	1,706,348		FNMA		4.500		11/01/40		1,883
	151,635	h	FNMA		4.500		11/01/40		167
	2,200,462		FNMA		4.500		11/01/40		2,410
	299,452	h	FNMA		4.500		01/01/41		333
	234,489	h	FNMA		4.500		02/01/41		259
	5,717,510		FNMA		5.000		05/01/41		6,375
	265,096	h	FNMA		4.500		06/01/41		293
	244,339	h	FNMA		4.500		06/01/41		271
	1,157,561		FNMA		5.000		06/01/41		1,297
	460,973	h	FNMA		4.500		12/01/41		509
	17,414,701		FNMA		5.500		12/01/41		20,021
	268,276	h	FNMA		4.500		01/01/42		296
	2,528,491		FNMA		3.500		02/01/42		2,671
	290,818	h	FNMA		4.500		04/01/42		321

362

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,538,336		FNMA		4.500	%	04/01/42	$	3,876
	321,185	h	FNMA		4.500		06/01/42		355
	250,540	h	FNMA		4.500		07/01/42		278
	11,951,341		FNMA		3.000		10/01/42		12,252
	212,275		FNMA		3.000		10/01/42		218
	214,342		FNMA		3.000		10/01/42		220
	552,157		FNMA		3.000		11/01/42		566
	318,102		FNMA		3.000		12/01/42		326
	37,795		FNMA		3.000		12/01/42		39
	9,033,193		FNMA		3.000		01/01/43		9,259
	4,130,153		FNMA		3.000		01/01/43		4,231
	11,322,980		FNMA		3.000		02/01/43		11,606
	5,334,917		FNMA		3.000		02/01/43		5,468
	607,495		FNMA		3.000		02/01/43		622
	139,067		FNMA		3.000		02/01/43		143
	3,262,850		FNMA		3.500		02/01/43		3,462
	150,329		FNMA		3.000		03/01/43		154
	720,873		FNMA		3.000		03/01/43		738
	249,423		FNMA		3.000		03/01/43		255
	132,666		FNMA		3.000		03/01/43		136
	14,462		FNMA		3.000		04/01/43		15
	71,042		FNMA		3.000		04/01/43		73
	211,955		FNMA		3.000		04/01/43		217
	54,411		FNMA		3.000		04/01/43		56
	150,649		FNMA		3.000		04/01/43		154
	163,033		FNMA		3.000		04/01/43		167
	318,002		FNMA		3.000		04/01/43		326
	344,295		FNMA		3.000		04/01/43		353
	191,747		FNMA		3.000		04/01/43		196
	4,979,459		FNMA		3.000		05/01/43		5,102
	521,779		FNMA		3.500		05/01/43		554
	875,328		FNMA		3.500		05/01/43		929
	2,305,856		FNMA		3.500		06/01/43		2,447
	1,100,355		FNMA		3.500		06/01/43		1,168
	425,433		FNMA		3.500		06/01/43		451
	876,854		FNMA		3.500		06/01/43		930
	527,366		FNMA		3.500		06/01/43		560
	1,121,844		FNMA		3.500		06/01/43		1,190
	3,045,248		FNMA		3.500		07/01/43		3,231
	1,454,367		FNMA		3.500		07/01/43		1,543
	14,044,674		FNMA		4.000		11/01/43		15,320
	3,003,353		FNMA		4.000		02/25/44		3,209
	5,422,249		FNMA		4.000		04/01/44		5,917
	126,000		FNMA		4.500		05/01/44		141
	3,429,417		FNMA		4.000		06/01/44		3,742
	2,566,251		FNMA		4.000		06/01/44		2,800
	1,453,703		FNMA		4.500		06/01/44		1,628
	13,201,100		FNMA		4.500		06/01/44		14,785
	2,554,226		FNMA		4.500		06/01/44		2,861
	975,308		FNMA		4.000		07/01/44		1,064
	2,437,636		FNMA		4.000		07/01/44		2,659
	2,976,420		FNMA		4.000		08/01/44		3,247
	1,210,967	h	FNMA		4.000		08/01/44		1,321

363

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,440,931	h	FNMA		4.000	%	08/01/44	$	4,845
	8,144,813	h	FNMA		4.000		08/01/44		8,886
	3,020,373		FNMA		4.500		08/01/44		3,383
	712,380		FNMA		4.000		09/01/44		777
	840,747	h	FNMA		4.000		09/01/44		917
	1,152,894		FNMA		3.500		10/01/44		1,224
	828,073		FNMA		3.500		10/01/44		879
	4,479,071		FNMA		4.000		10/01/44		4,887
	7,059,197		FNMA		4.500		10/01/44		7,906
	14,491,946		FNMA		4.500		11/01/44		16,229
	2,604,851		FNMA		4.000		12/01/44		2,833
	3,282,127		FNMA		4.000		12/01/44		3,570
	2,975,432		FNMA		4.500		12/01/44		3,333
	3,062,694		FNMA		4.000		01/01/45		3,342
	402,955	h	FNMA		3.500		03/01/45		427
	661,779	h	FNMA		3.500		03/01/45		700
	855,647		FNMA		4.500		03/01/45		959
	18,000,000	h	FNMA		3.000		04/25/45		18,405
	13,000,000	h	FNMA		3.500		04/25/45		13,658
	28,000,000	h	FNMA		4.000		04/25/45		29,940
	21,000,000	h	FNMA		5.000		04/25/45		23,352
	11,000,000	h	FNMA		3.000		05/25/45		11,221
	78,000,000	h	FNMA		3.500		05/25/45		81,748
	23,000,000	h	FNMA		4.000		05/25/45		24,554
	63,000,000	h	FNMA		4.500		05/25/45		68,561
	19,000,000	h	FNMA		5.000		05/25/45		21,100
	24,000,000	h	FNMA		3.500		06/25/45		25,094
	16,000,000	h	FNMA		4.000		06/25/45		17,051
	10,000,000	h	FNMA		4.500		06/25/45		10,863
	11,054		Government National Mortgage Association (GNMA)		9.000		12/15/17		12
	4,342,392		GNMA		2.300		10/15/19		4,421
	8,496		GNMA		8.000		06/15/22		9
	22,305		GNMA		6.500		08/15/23		25
	8,638		GNMA		6.500		08/15/23		10
	7,239,733		GNMA		2.580		08/15/25		7,444
	107,190		GNMA		6.500		05/20/31		130
	9,181,181		GNMA		2.640		01/15/33		9,188
	12,841,942		GNMA		2.690		06/15/33		13,075
	259,688		GNMA		5.500		07/15/33		293
	154,906		GNMA		6.000		10/20/36		178
	162,030		GNMA		6.000		01/20/37		186
	565,831		GNMA		5.500		02/15/37		641
	877,446		GNMA		6.000		02/20/37		1,006
	410,760		GNMA		5.000		04/15/38		458
	299,757		GNMA		6.000		08/20/38		340
	610,827		GNMA		6.500		11/20/38		704
	588,967		GNMA		5.000		07/20/39		661
	4,718,613		GNMA		4.500		09/20/39		5,291
	4,722,764		GNMA		3.500		07/15/43		5,030
	1,048,278		GNMA		3.500		02/15/45		1,117
	31,000,000	h	GNMA		3.000		04/15/45		31,906
	29,000,000	h	GNMA		3.000		04/20/45		29,870
	51,000,000	h	GNMA		3.500		04/20/45		53,669

364

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	26,000,000	h	GNMA		4.000	%	04/20/45	$	27,710
	7,000,000	h	GNMA		5.000		04/20/45		7,655
	40,000,000	h	GNMA		3.500		05/20/45		41,984
	9,000,000	h	GNMA		4.000		05/20/45		9,580
			TOTAL MORTGAGE BACKED						1,157,494
MUNICIPAL BONDS - 3.4%
	4,500,000	g	Basin Electric Power Coop		6.127		06/01/41		5,415
	1,090,000		Bay Area Water Supply & Conservation Agency		1.311		10/01/17		1,089
	3,790,000		Bay Area Water Supply & Conservation Agency		2.535		10/01/21		3,799
	2,635,000		Bay Area Water Supply & Conservation Agency		3.015		10/01/24		2,649
	675,000		California Earthquake Authority		1.194		07/01/16		675
	7,465,000		California Earthquake Authority		2.805		07/01/19		7,584
	6,165,000	g	California Pollution Control Financing Authority		5.000		07/01/27		6,491
	8,020,000	g	California Pollution Control Financing Authority		5.000		07/01/37		8,367
	2,500,000	g	California Pollution Control Financing Authority		5.000		11/21/45		2,603
	3,700,000		Calleguas Municipal Water District		2.030		07/01/18		3,742
	1,215,000		Charlotte-Mecklenburg Hospital Authority		5.000		08/01/15		1,230
	1,250,000		City & County of Honolulu, HI		6.114		07/01/29		1,424
	4,000,000		City of Dallas, TX		5.078		02/15/22		4,662
	1,500,000		City of Dallas, TX		5.195		02/15/35		1,767
	760,000		City of Eugene, OR		6.320		08/01/22		890
	12,500,000		City of Houston TX Utility System Revenue		2.563		05/15/20		12,943
	10,095,000		City of Houston TX Utility System Revenue		2.923		05/15/21		10,541
	1,615,000		City of Jersey City NJ		1.192		09/01/15		1,615
	2,200,000		City of Jersey City NJ		1.509		09/01/16		2,202
	2,180,000		City of Jersey City NJ		1.829		09/01/17		2,179
	500,000		City of Jersey City NJ		2.079		09/01/18		499
	925,000		City of Jersey City NJ		2.423		09/01/19		925
	1,000,000		Commonwealth Financing Authority		2.675		06/01/21		1,007
	1,150,000		Commonwealth Financing Authority		2.875		06/01/22		1,154
	2,310,000		Commonwealth Financing Authority		3.075		06/01/23		2,322
	24,000,000		Commonwealth of Massachusetts		5.000		08/01/33		27,821
	5,000,000		Commonwealth of Massachusetts		5.456		12/01/39		6,348
	755,000		County of Mercer, NJ		5.380		02/01/17		775
	23,500,000		District of Columbia Water & Sewer Authority		4.814		10/01/14		28,335
	1,680,000		Douglas County Public Utility District No 1 Wells Hydroelectric		5.112		09/01/18		1,756
	4,600,000		Fiscal Year 2005 Securitization Corp		4.760		08/15/19		4,950
	9,750,000		Florida Hurricane Catastrophe Fund Finance Corp		1.298		07/01/16		9,810
	15,630,000	j	Garden State Preservation Trust		0.000		11/01/22		13,212
	1,000,000		Grant County Public Utility District No 2		5.470		01/01/34		1,120
	1,250,000		Grant County Public Utility District No 2		4.164		01/01/35		1,302
	4,135,000		Greene County OH		2.720		12/01/21		4,174
	4,365,000		Greene County OH		3.120		12/01/23		4,407
	4,615,000		Greene County OH		3.270		12/01/24		4,648
	4,755,000		Greene County OH		3.420		12/01/25		4,787
	1,700,000		Guadalupe Valley Electric Coop, Inc		5.671		10/01/32		1,931
	975,000		Guadalupe-Blanco River Authority Industrial Development Corp		3.287		04/15/23		992
	1,350,000		Kansas Development Finance Authority		4.722		05/01/15		1,354
	540,000		Lavaca-Navidad River Authority		3.850		08/01/26		553
	6,430,000		Lavaca-Navidad River Authority		4.430		08/01/35		6,553

365

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	530,000		Massachusetts Housing Finance Agency		1.306	%	06/01/16	$	531
	285,000		Massachusetts Housing Finance Agency		1.776		06/01/17		286
	4,960,000		Massachusetts Housing Finance Agency		4.782		12/01/20		5,091
	5,400,000		Massachusetts St. Water Pollution Abatement		5.192		08/01/40		6,419
	3,500,000		Metropolitan Council		1.750		09/01/20		3,482
	3,000,000		Metropolitan Washington Airports Authority		5.690		10/01/30		3,062
	5,000,000		Metropolitan Water District of Southern California		6.250		07/01/39		5,777
	750,000		Metropolitan Water Reclamation District of Greater Chicago		2.229		12/01/16		760
	1,590,000		Michigan Finance Authority		5.000		07/01/16		1,666
	8,945,000		Michigan Finance Authority		5.000		07/01/22		10,444
	8,000,000		Michigan Finance Authority		5.000		07/01/22		9,312
	500,000		Michigan Finance Authority		5.000		07/01/22		571
	515,000		Michigan Finance Authority		5.000		07/01/29		569
	2,500,000		Michigan Finance Authority		5.000		07/01/30		2,752
	2,000,000		Michigan Finance Authority		5.000		07/01/31		2,194
	1,130,000		New York State Energy Research & Development Authority		1.028		07/01/16		1,127
	1,590,000		New York State Energy Research & Development Authority		2.372		07/01/19		1,620
	1,285,000		New York State Energy Research & Development Authority		2.772		07/01/20		1,323
	1,590,000		New York State Energy Research & Development Authority		3.206		07/01/22		1,674
	1,200,000		New York State Environmental Facilities Corp		2.005		06/15/19		1,200
	1,220,000		New York State Environmental Facilities Corp		2.595		06/15/21		1,232
	1,255,000		New York State Environmental Facilities Corp		3.045		06/15/24		1,279
	1,225,000		New York State Environmental Facilities Corp		3.195		06/15/25		1,249
	500,000		New York State Environmental Facilities Corp		3.684		12/15/29		509
	800,000		New York State Environmental Facilities Corp		5.807		06/15/39		1,061
	2,475,000		New York State Urban Development Corp		6.500		12/15/18		2,713
	2,230,000		Newport News Economic Development Authority		5.640		01/15/29		2,303
	270,000		Newport News Economic Development Authority		5.640		01/15/29		276
	1,250,000	g	Niagara Area Development Corp		4.000		11/01/24		1,266
	4,750,000		Northern California Power Agency		4.320		07/01/24		5,128
	2,450,000		Ohio State Water Development Authority		4.879		12/01/34		2,863
	635,000		Oklahoma Water Resources Board		2.444		04/01/20		650
	700,000		Oklahoma Water Resources Board		3.071		04/01/22		733
	1,220,000		Pend Oreille County Public Utility District No Box Canyon		1.987		01/01/16		1,220
	1,000,000		Pend Oreille County Public Utility District No Box Canyon		2.417		01/01/17		1,007
	1,000,000		Pend Oreille County Public Utility District No Box Canyon		2.787		01/01/18		1,013
	1,000,000		Pend Oreille County Public Utility District No Box Canyon		3.037		01/01/19		1,010
	1,070,000		Pend Oreille County Public Utility District No Box Canyon		3.621		01/01/21		1,097
	1,900,000		South Dakota Conservancy District		0.712		08/01/15		1,901
	1,000,000		South Dakota Conservancy District		1.620		08/01/18		1,001
	3,330,000		South Dakota Conservancy District		1.648		08/01/18		3,345
	38,830,000		State of California		3.750		10/01/37		39,608
	7,050,000		State of California		4.988		04/01/39		7,566
	5,000,000		State of Connecticut		5.090		10/01/30		5,794
	5,570,000		State of Illinois		4.350		06/01/18		5,820
	9,000,000		State of Illinois		5.520		04/01/38		8,868
	4,505,000		State of Michigan		3.375		12/01/20		4,780
	4,405,000		State of Michigan		3.590		12/01/26		4,580
	2,500,000		State of Ohio		5.412		09/01/28		3,073
	3,265,000		State of Texas		4.900		08/01/20		3,304
	5,000,000		State of Texas		6.072		10/01/29		5,874
	2,025,000		State of Texas		3.576		08/01/34		2,012

366

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,370,000		State of Texas		3.726	%	08/01/43	$	3,417
	1,985,000		State of Washington		5.050		01/01/18		1,994
	3,000		State of Wisconsin		5.700		05/01/26		4
	23,480,000		Suffolk County Water Authority		3.500		06/01/39		23,571
	2,280,000		Tampa Bay Water		2.612		10/01/25		2,259
	3,225,000		Tampa Bay Water		2.782		10/01/26		3,203
	3,000,000		Tampa Bay Water		2.952		10/01/27		2,973
	5,000,000		Tuolumne Wind Project Authority		6.918		01/01/34		5,974
	3,035,000		University of California		3.809		05/15/28		3,089
	11,400,000		University of California		4.009		05/15/30		11,609
	6,500,000	i	University of California		0.672		07/01/41		6,500
	1,000,000		University of Cincinnati		3.250		06/01/29		1,003
	1,560,000		University of Cincinnati		3.650		06/01/34		1,568
	1,615,000		University of Cincinnati		3.700		06/01/35		1,625
	17,500,000	h	University of Virginia		3.570		04/01/45		17,809
	1,000,000		Washington County Clean Water Services		5.078		10/01/24		1,188
	600,000		West Virginia Water Development Authority		5.000		11/01/21		715
	1,345,000		West Virginia Water Development Authority		5.000		11/01/22		1,618
	1,000,000		West Virginia Water Development Authority		5.000		11/01/23		1,215
			TOTAL MUNICIPAL BONDS						487,931
U.S. TREASURY SECURITIES - 3.0%
	6,000,000		United States Treasury Bond		3.125		02/15/43		6,698
	50,000,000		United States Treasury Bond		2.875		05/15/43		53,309
	1,000,000		United States Treasury Bond		3.375		05/15/44		1,172
	32,420,000		United States Treasury Bond		3.000		11/15/44		35,528
	3,131,000		United States Treasury Note		2.500		04/30/15		3,137
	7,565,000		United States Treasury Note		0.250		12/31/15		7,566
	2,000,000		United States Treasury Note		0.625		07/15/16		2,006
	2,200,000		United States Treasury Note		0.500		11/30/16		2,201
	17,190,000		United States Treasury Note		0.500		02/28/17		17,176
	42,650,000		United States Treasury Note		1.000		03/15/18		42,800
	4,230,000		United States Treasury Note		1.625		04/30/19		4,299
	44,880,000		United States Treasury Note		1.625		06/30/19		45,578
	143,545,000		United States Treasury Note		1.375		02/29/20		143,590
	12,234,500		United States Treasury Note		1.625		11/15/22		12,115
	55,293,000		United States Treasury Note		2.000		02/15/25		55,643
			TOTAL U.S. TREASURY SECURITIES						432,818
			TOTAL GOVERNMENT BONDS						3,413,888
			(Cost $3,315,191)
STRUCTURED ASSETS - 2.6%
ASSET BACKED - 1.4%
	12,849,112	g	Alterna Funding I LLC		1.639		02/15/21		12,865
			Series - 2014 1A (Class NOTE)
	1,354,617	i	Asset Backed Securities Corp Home Equity Loan Trust		0.635		07/25/35		1,348
			Series - 2005 HE7 (Class M2)
	1,250,000	g	Avis Budget Rental Car Funding AESOP LLC		6.740		05/20/16		1,256
			Series - 2010 3A (Class B)
	4,500,000	g	Avis Budget Rental Car Funding AESOP LLC		5.110		03/20/17		4,622
			Series - 2010 5A (Class B)
	4,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.780		02/20/18		4,064
			Series - 2011 5A (Class C)

367

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,000,000	g	Avis Budget Rental Car Funding AESOP LLC		4.720	%	02/20/18	$	4,183
			Series - 2011 5A (Class B)
	472,452	i	Bear Stearns Asset Backed Securities Trust		0.914		11/25/39		468
			Series - 2005 SD3 (Class 2A1)
	900,000		Capital Auto Receivables Asset Trust		1.290		04/20/18		899
			Series - 2013 1 (Class B)
	975,000		Capital Auto Receivables Asset Trust		1.740		10/22/18		979
			Series - 2013 1 (Class C)
	4,000,000	g	Capital Automotive REIT		3.660		10/15/44		4,046
			Series - 2014 1A (Class A)
	3,501,139	i	Chase Funding Loan Acquisition Trust		1.029		06/25/34		3,248
			Series - 2004 OPT1 (Class M1)
	12,323,923	i	Connecticut Avenue Securities		1.674		02/25/25		12,408
			Series - 2015 C01 (Class 1M1)
	6,000,000	g	DB Master Finance LLC		3.262		02/20/45		6,057
			Series - 2015 1A (Class A2I)
	1,715,000	g,i	DB/UBS Mortgage Trust		5.558		11/10/46		1,946
			Series - 2011 LC1A (Class C)
	12,561,250	g	Dominos Pizza Master Issuer LLC		5.216		01/25/42		13,060
			Series - 2012 1A (Class A2)
	1,500,000		Ford Credit Auto Owner Trust		3.210		07/15/17		1,504
			Series - 2011 A (Class D)
	4,347,940	g	HERO Funding Trust		3.990		09/21/40		4,344
			Series - 2014 2A (Class A)
	500,000	g	Hertz Vehicle Financing LLC		6.440		02/25/19		555
			Series - 2010 1A (Class B3)
	1,675,076	i	Lehman XS Trust		0.424		02/25/36		1,591
			Series - 2006 1 (Class 1A1)
	4,913,646	i	Lehman XS Trust		6.500		06/25/46		3,840
			Series - 2006 13 (Class 2A1)
	1,188,931	i	Park Place Securities, Inc Asset-Backed Pass-Through Certificates		0.694		01/25/36		1,183
			Series - 2005 WCH1 (Class M2)
	342,262	i	Residential Asset Mortgage Products, Inc		5.470		09/25/33		353
			Series - 2003 RZ5 (Class A7)
	198,212	i	Residential Asset Securities Corp		0.819		04/25/35		198
			Series - 2005 KS3 (Class M3)
	945,157		Residential Funding Mortgage Securities II, Inc		5.500		08/25/25		948
			Series - 2006 HI5 (Class A3)
	594,980	i	Residential Funding Mortgage Securities II, Inc		6.010		02/25/36		597
			Series - 2006 HI1 (Class M1)
	200,000	i	Residential Funding Mortgage Securities II, Inc		6.060		02/25/36		208
			Series - 2006 HI1 (Class M2)
	3,800,000		Santander Drive Auto Receivables Trust		1.760		01/15/19		3,813
			Series - 2013 1 (Class C)
	473,920	i	Securitized Asset Backed Receivables LLC		0.474		10/25/35		467
			Series - 2006 OP1 (Class A2C)
	1,896,897	g	Sierra Receivables Funding Co LLC		3.420		03/20/29		1,926
			Series - 2012 2A (Class B)
	1,441,716	g	Sierra Receivables Funding Co LLC		1.590		11/20/29		1,440
			Series - 2013 1A (Class A)
	4,045,000	g	SLM Student Loan Trust		3.740		02/15/29		4,262
			Series - 2011 B (Class A2)

368

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	6,688,332	g	SolarCity LMC		4.590	%	04/20/44	$	7,023
			Series - 2014 1 (Class A)
	29,813,244	g	SolarCity LMC		4.020		07/20/44		30,391
			Series - 2014 2 (Class A)
	471,911	i	Soundview Home Equity Loan Trust		0.474		11/25/35		469
			Series - 2005 OPT3 (Class A4)
	13,650,885	g	SpringCastle America Funding LLC		2.700		05/25/23		13,685
			Series - 2014 AA (Class A)
	6,321,856	i	Structured Asset Securities Corp Mortgage Loan Trust		1.672		04/25/35		6,000
			Series - 2005 7XS (Class 2A1A)
	13,624,441		Toyota Auto Receivables Owner Trust		0.410		08/15/16		13,622
			Series - 2014 A (Class A2)
	24,000,000		Toyota Auto Receivables Owner Trust		0.670		12/15/17		23,986
			Series - 2014 A (Class A3)
	549,181	g,m	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		559
			Series - 2006 N1 (Class N1)
	699,841	g,i	Wachovia Loan Trust		0.534		05/25/35		679
			Series - 2005 SD1 (Class A)
	214,947	i	Wells Fargo Home Equity Trust		0.314		07/25/36		214
			Series - 2006 2 (Class A3)
			TOTAL ASSET BACKED						195,306
OTHER MORTGAGE BACKED - 1.2%
	3,050,000	g	Banc of America Commercial Mortgage Trust		5.416		01/15/49		3,201
			Series - 2007 1 (Class AM)
	5,416,386	i	Banc of America Commercial Mortgage Trust		5.482		01/15/49		5,644
			Series - 2007 1 (Class AMFX)
	2,590,000	i	Bear Stearns Commercial Mortgage Securities		5.954		09/11/42		2,798
			Series - 2007 T28 (Class AJ)
	2,500,000	i	Bear Stearns Commercial Mortgage Securities		5.878		06/11/50		2,593
			Series - 2007 PW17 (Class AJ)
	1,225,000	i	Citigroup Commercial Mortgage Trust		5.975		03/15/49		1,268
			Series - 2006 C4 (Class AJ)
	2,575,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		2,779
			Series - 2007 C3 (Class AM)
	3,925,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		4,087
			Series - 2007 C3 (Class AJ)
	2,750,000	i	COBALT CMBS Commercial Mortgage Trust		5.526		04/15/47		2,941
			Series - 2007 C2 (Class AMFX)
	4,000,000	i	COMM 2007-C9 Mortgage Trust		5.796		12/10/49		4,220
			Series - 2007 C9 (Class B)
	5,265,000	i	Commercial Mortgage Trust		5.238		04/10/37		5,298
			Series - 2005 GG5 (Class AJ)
	938,454		Countrywide Alternative Loan Trust		5.500		08/25/16		959
			Series - 2004 30CB (Class 1A15)
	1,500,000		Credit Suisse Commercial Mortgage Trust		5.343		12/15/39		1,574
			Series - 2006 C5 (Class AM)
	4,200,000	i	Credit Suisse Commercial Mortgage Trust		5.625		01/15/49		4,410
			Series - 2007 C2 (Class AJ)
	280,000	i	Credit Suisse First Boston Mortgage Securities Corp		5.100		08/15/38		283
			Series - 2005 C5 (Class C)
	3,500,000	i	Credit Suisse First Boston Mortgage Securities Corp		5.230		12/15/40		3,562
			Series - 2005 C6 (Class B)

369

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,000,000	g	Credit Suisse Mortgage Capital Certificates		5.626	%	05/15/23	$	2,286
			Series - 2006 OMA (Class D)
	3,500,000	g	Credit Suisse Mortgage Capital Certificates		5.383		02/15/40		3,605
			Series - 2009 RR1 (Class A3C)
	850,196	g,i	Credit Suisse Seasoned Loan Trust		0.414		10/25/34		838
			Series - 2006 1 (Class A)
	500,000	i	GE Commercial Mortgage Corp		5.606		12/10/49		526
			Series - 2007 C1 (Class AM)
	2,535,000	g,i	GS Mortgage Securities Corp II		5.223		12/10/43		2,857
			Series - 2010 C2 (Class B)
	500,000	i	GS Mortgage Securities Trust		5.553		04/10/38		507
			Series - 2006 GG6 (Class B)
	1,397,905	i	Harborview Mortgage Loan Trust		0.398		07/19/47		1,166
			Series - 2007 4 (Class 2A1)
	799,375	i	Impac CMB Trust		0.834		03/25/35		730
			Series - 2004 11 (Class 2A1)
	3,025,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp		5.277		07/15/46		3,377
			Series - 2011 C4 (Class C)
	3,780,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.911		07/15/42		3,795
			Series - 2005 LDP2 (Class C)
	2,000,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.568		02/15/46		2,185
			Series - 2011 C3 (Class E)
	11,822,439		JP Morgan Chase Commercial Mortgage Securities Trust		5.257		05/15/47		12,315
			Series - 2006 LDP9 (Class A1A)
	2,639,215	i	JP Morgan Chase Commercial Mortgage Securities Trust		6.192		02/15/51		2,868
			Series - 2007 LD12 (Class AM)
	2,500,000		LB-UBS Commercial Mortgage Trust		5.484		02/15/40		2,608
			Series - 2007 C1 (Class AJ)
	700,000	i	LB-UBS Commercial Mortgage Trust		5.533		02/15/40		708
			Series - 2007 C1 (Class C)
	3,390,000	i	LB-UBS Commercial Mortgage Trust		5.563		02/15/40		3,331
			Series - 2007 C1 (Class D)
	750,000	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		812
			Series - 2007 C6 (Class AM)
	275,000	i	LB-UBS Commercial Mortgage Trust		5.057		09/15/40		278
			Series - 2005 C5 (Class AJ)
	645,000	i	Merrill Lynch Mortgage Trust		6.267		02/12/51		708
			Series - 0 C1 (Class AJA)
	2,750,000	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		2,855
			Series - 2007 6 (Class AM)
	2,111,000	i	Morgan Stanley Capital I		5.834		10/15/42		2,183
			Series - 2006 IQ11 (Class AJ)
	855,000	g,i	Morgan Stanley Capital I Trust		5.877		08/12/41		889
			Series - 2006 T23 (Class B)
	3,000,000	i	Morgan Stanley Capital I Trust		5.389		11/12/41		3,095
			Series - 2006 HQ10 (Class AJ)
	1,000,000	i	Morgan Stanley Capital I Trust		5.271		08/13/42		1,000
			Series - 2005 HQ6 (Class F)
	710,000	g,i	Morgan Stanley Capital I Trust		5.252		09/15/47		780
			Series - 2011 C1 (Class D)
	600,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		595
			Series - 2007 IQ15 (Class AJ)

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	8,244,000	g	OBP Depositor LLC Trust		4.646	%	07/15/45	$	9,255
			Series - 2010 OBP (Class A)
	282,726		Residential Accredit Loans, Inc		4.350		03/25/34		286
			Series - 2004 QS4 (Class A1)
	204,553		RFMSI Trust		5.500		03/25/35		207
			Series - 2005 S2 (Class A6)
	683,457	g,i	Springleaf Mortgage Loan Trust		2.667		09/25/57		692
			Series - 2012 1A (Class A)
	629,719	g,i	Springleaf Mortgage Loan Trust		2.220		10/25/57		632
			Series - 0 2A (Class A)
	3,951,175	i	Structured Agency Credit Risk Debt Note (STACR)		1.424		01/25/25		3,959
			Series - 2015 DN1 (Class M1)
	7,375,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.574		01/25/25		7,480
			Series - 2015 DN1 (Class M2)
	10,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.373		03/25/25		10,013
			Series - 2015 HQ1 (Class M2)
	750,000	i	Structured Agency Credit Risk Debt Note (STACR)		3.973		03/25/25		747
			Series - 2015 HQ1 (Class M3)
	5,000,000	g,i	Wachovia Bank Commercial Mortgage Trust		0.377		12/15/43		4,818
			Series - 2007 C30 (Class AMFL)
	4,585,000		Wachovia Bank Commercial Mortgage Trust		5.383		12/15/43		4,862
			Series - 2007 C30 (Class AM)
	890,000	i	Wachovia Bank Commercial Mortgage Trust		5.818		05/15/46		964
			Series - 2007 C34 (Class AM)
	1,700,000	i	Wachovia Bank Commercial Mortgage Trust		5.947		05/15/46		1,792
			Series - 2007 C34 (Class AJ)
	1,975,000	i	Wachovia Bank Commercial Mortgage Trust		5.591		04/15/47		2,109
			Series - 2007 C31 (Class AM)
	1,500,000	i	Wachovia Bank Commercial Mortgage Trust		5.660		04/15/47		1,563
			Series - 2007 C31 (Class AJ)
	1,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.700		04/15/47		1,011
			Series - 2007 C31 (Class B)
	4,000,000	g	Wachovia Bank Commercial Mortgage Trust		5.703		06/15/49		4,300
			Series - 2007 C32 (Class AMFX)
	6,830,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		6,968
			Series - 2007 C32 (Class AJ)
	875,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		816
			Series - 2007 C32 (Class B)
	510,000	i	Wachovia Bank Commercial Mortgage Trust		5.953		02/15/51		553
			Series - 2007 C33 (Class AM)
	6,594,700	i	WaMu Mortgage Pass-Through Certificates		0.604		10/25/45		5,911
			Series - 2005 AR13 (Class A1B2)
	2,429,428	i	WaMu Mortgage Pass-Through Certificates		0.524		12/25/45		2,229
			Series - 2005 AR19 (Class A1B3)
			TOTAL OTHER MORTGAGE BACKED						173,681
			TOTAL STRUCTURED ASSETS						368,987
			(Cost $365,229)
			TOTAL BONDS						5,635,659
			(Cost $5,474,356)

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 59.6%
AUTOMOBILES & COMPONENTS - 1.7%
	67,500		Aisin Seiki Co Ltd	$	2,447
	127,203		Bayerische Motoren Werke AG.		15,841
	58,860		Bayerische Motoren Werke AG. (Preference)		5,437
	6,602		Delphi Automotive plc		526
	133,000		Denso Corp		6,063
	897	*,e	Dorman Products, Inc		45
	3,117,967		Ford Motor Co		50,324
	161,000		Fuji Heavy Industries Ltd		5,345
	315,021		GKN plc		1,671
	236,929		Harley-Davidson, Inc		14,391
	384,280	e	Honda Motor Co Ltd		12,544
	755,892		Johnson Controls, Inc		38,127
	75,202		Magna International, Inc (Class A)		4,020
	66,800		Mazda Motor Corp		1,353
	25,400		Mitsubishi Motors Corp		229
	59,514	*	Modine Manufacturing Co		802
	910,900		Nissan Motor Co Ltd		9,264
	20,786		Pirelli & C S.p.A.		344
	109,499		Renault S.A.		9,946
	9,200		Stanley Electric Co Ltd		208
	78,492	*	Tenneco, Inc		4,507
	113,370	*,e	Tesla Motors, Inc		21,401
	78,900		Toyota Industries Corp		4,513
	72,214		Volkswagen AG. (Preference)		19,151
	96,100		Yamaha Motor Co Ltd		2,315
			TOTAL AUTOMOBILES & COMPONENTS		230,814
BANKS - 3.5%
	1,142		Arrow Financial Corp		31
	51,058		Associated Banc-Corp		950
	4,424		Astoria Financial Corp		57
	578,039		Australia & New Zealand Banking Group Ltd		16,081
	3,630,517		Banca Intesa S.p.A.		12,322
	1,800,950		Banco Bilbao Vizcaya Argentaria S.A.		18,189
	21,859		Bank Mutual Corp		160
	25,289	e	Bank of Hawaii Corp		1,548
	95,743		Bank of Montreal		5,738
	225,482		Bank of Nova Scotia		11,312
	3,264		Bank of the Ozarks, Inc		121
	3,813		Banner Corp		175
	971,529		BB&T Corp		37,880
	10,404		BBCN Bancorp, Inc		151
	4,422		Bendigo Bank Ltd		42
	1,202	*	Beneficial Bancorp, Inc		14
	20,397		Boston Private Financial Holdings, Inc		248
	4,200	e	Canadian Imperial Bank of Commerce/Canada		304
	7,221		Capitol Federal Financial		90
	3,360		Cathay General Bancorp		96
	5,743		Centerstate Banks of Florida, Inc		68

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	117,573		CIT Group, Inc	$	5,305
	3,804		CoBiz, Inc		47
	2,120	e	Columbia Banking System, Inc		61
	165,930		Comerica, Inc		7,488
	1,336		Commerce Bancshares, Inc		57
	317,627		Commonwealth Bank of Australia		22,529
	3,936		Community Bank System, Inc		139
	667,676		Criteria CaixaBank S.A.		3,166
	9,127		Cullen/Frost Bankers, Inc		631
	66,896		DNB NOR Holding ASA		1,074
	10,051		East West Bancorp, Inc		407
	10,260		Federal Agricultural Mortgage Corp (Class C)		289
	2,018		First Bancorp (NC)		35
	451		First Citizens Bancshares, Inc (Class A)		117
	23,976		First Commonwealth Financial Corp		216
	12,098		First Interstate Bancsystem, Inc		337
	3,693		First Merchants Corp		87
	16,186		FNB Corp		213
	2,590		Glacier Bancorp, Inc		65
	5,441		Hancock Holding Co		162
	456,100		Hang Seng Bank Ltd		8,255
	1,267		Heartland Financial USA, Inc		41
	4,825		HomeStreet, Inc		88
	3,864,803		HSBC Holdings plc		32,934
	9,593		IBERIABANK Corp		605
	1,147		International Bancshares Corp		30
	20,614		Investors Bancorp, Inc		242
	157,487	*	KBC Groep NV		9,733
	1,625,945		Keycorp		23,023
	21,058		Lakeland Bancorp, Inc		242
	269,235		M&T Bank Corp		34,193
	1,800		MB Financial, Inc		56
	61,360	*	MGIC Investment Corp		591
	5,080,200		Mizuho Financial Group, Inc		8,928
	512,380		National Australia Bank Ltd		15,000
	6,490		National Penn Bancshares, Inc		70
	996,789		Natixis		7,467
	1,500		NBT Bancorp, Inc		38
	145,456	e	New York Community Bancorp, Inc		2,433
	644,338	e	Nordea Bank AB		7,848
	11,094		Northfield Bancorp, Inc		164
	32,902		OFG Bancorp		537
	19,938		Old National Bancorp		283
	22,911		PacWest Bancorp		1,074
	4,182		Peoples Bancorp, Inc		99
	2,728		People’s United Financial, Inc		41
	2,500		Pinnacle Financial Partners, Inc		111
	497,059		PNC Financial Services Group, Inc		46,346
	87,691	*	Popular, Inc		3,016
	20,422		PrivateBancorp, Inc		718
	53,363		Provident Financial Services, Inc		995
	344,341	e	Radian Group, Inc		5,782

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	155,400		Resona Holdings, Inc	$	771
	277,939	e	Royal Bank of Canada (Toronto)		16,731
	1,000		S&T Bancorp, Inc		28
	3,487	*	Signature Bank		452
	176,421		Skandinaviska Enskilda Banken AB (Class A)		2,059
	2,200	e	Southside Bancshares, Inc		63
	712,000		Standard Chartered plc		11,532
	282,300	e	Sumitomo Mitsui Financial Group, Inc		10,813
	16,927		Susquehanna Bancshares, Inc		232
	28,454	*	SVB Financial Group		3,615
	45,092	*,e	Swedbank AB (A Shares)		1,077
	800	*	Texas Capital Bancshares, Inc		39
	26,435	*	The Bancorp, Inc		239
	362,243		Toronto-Dominion Bank		15,504
	1,700		Trustmark Corp		41
	5,465		UMB Financial Corp		289
	3,150	e	Umpqua Holdings Corp		54
	2,479	e	Union Bankshares Corp		55
	10,908	e	United Bankshares, Inc		410
	5,569		United Financial Bancorp, Inc (New)		69
	1,242,204		US Bancorp		54,247
	10,727	*	Walker & Dunlop, Inc		190
	13,956		Webster Financial Corp		517
	3,652		WesBanco, Inc		119
	5,233	e	Westamerica Bancorporation		226
	5,690	*	Western Alliance Bancorp		169
	699,443		Westpac Banking Corp		20,907
	16,588		Wilshire Bancorp, Inc		165
	1,110		Wintrust Financial Corp		53
	37,356		Zions Bancorporation		1,009
			TOTAL BANKS		500,660
CAPITAL GOODS - 4.0%
	389,491		3M Co		64,247
	6,541		A.O. Smith Corp		430
	5,085		Acuity Brands, Inc		855
	19,102	*	Aerovironment, Inc		506
	75,930		Alfa Laval AB		1,491
	343,898		Ametek, Inc		18,068
	56,219	*	ArvinMeritor, Inc		709
	368,000		Asahi Glass Co Ltd		2,410
	43,724		Assa Abloy AB (Class B)		2,605
	7,416		Astec Industries, Inc		318
	153,909		Atlas Copco AB (A Shares)		4,983
	135,146		Atlas Copco AB (B Shares)		3,991
	116,424		Barnes Group, Inc		4,714
	2,120	*	Beacon Roofing Supply, Inc		66
	106,747		Bouygues S.A.		4,191
	29,997		Briggs & Stratton Corp		616
	129,357	*	Builders FirstSource, Inc		863
	240,831		Bunzl plc		6,529
	8,451	*	CAI International, Inc		208

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	313,517		Caterpillar, Inc	$	25,091
	4,279	*	Chart Industries, Inc		150
	454,694		CNH Industrial NV		3,726
	10,768	*	Colfax Corp		514
	199,560		Compagnie de Saint-Gobain		8,762
	210,677		Cummins, Inc		29,208
	46,600		Daikin Industries Ltd		3,115
	562,626		Danaher Corp		47,767
	238,986	e	Deere & Co		20,957
	343,132		Eaton Corp		23,312
	4,941		EMCOR Group, Inc		230
	4,487		EnerSys		288
	57,327	*,e	Enphase Energy, Inc		756
	19,159	*	Esterline Technologies Corp		2,192
	153,282	e	Fastenal Co		6,351
	96,743		Ferrovial S.A.		2,057
	6,133		Fluor Corp		351
	2,893		Fortune Brands Home & Security, Inc		137
	34,652	*	Furmanite Corp		273
	21,353		GEA Group AG.		1,027
	11,801		Geberit AG.		4,416
	64,204		Graco, Inc		4,633
	1,400		H&E Equipment Services, Inc		35
	14,756		Hexcel Corp		759
	32,600	e	Hitachi Construction Machinery Co Ltd		569
	423,645		Illinois Tool Works, Inc		41,153
	133,866		Ingersoll-Rand plc		9,114
	500	*	Jacobs Engineering Group, Inc		23
	25,600		JTEKT Corp		399
	92,000		Kawasaki Heavy Industries Ltd		464
	324,000		Keppel Corp Ltd		2,123
	213,800		Komatsu Ltd		4,191
	331,267		Koninklijke Philips Electronics NV		9,398
	320,000		Kubota Corp		5,056
	15,826		Legrand S.A.		857
	24,514		Lincoln Electric Holdings, Inc		1,603
	15,600	e	Makita Corp		808
	463,592		Masco Corp		12,378
	31,361		Meggitt plc		255
	1,101	*	Middleby Corp		113
	561,200	e	Mitsubishi Corp		11,277
	505,000		Mitsubishi Electric Corp		5,995
	2,049	*	MYR Group, Inc		64
	83,000		NGK Insulators Ltd		1,769
	96,264		Nordson Corp		7,541
	86,000		NSK Ltd		1,255
	165,398		Owens Corning, Inc		7,178
	287,127		Paccar, Inc		18,129
	3,296		Pall Corp		331
	34,256		Parker Hannifin Corp		4,069
	105,836		Pentair plc		6,656
	43,401	*	Polypore International, Inc		2,556

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	168,034		Precision Castparts Corp	$	35,287
	118,919	*	Quanta Services, Inc		3,393
	29,393		Rockwell Automation, Inc		3,409
	27,621		Rockwell Collins, Inc		2,667
	36,615		Roper Industries, Inc		6,298
	3,300	*	Rush Enterprises, Inc (Class A)		90
	236,880		Sandvik AB		2,653
	194,873		Schneider Electric S.A.		15,165
	98,000		Shimizu Corp		663
	43,110		Skanska AB (B Shares)		967
	42,500	e	SKF AB (B Shares)		1,097
	69,349		Smiths Group plc		1,147
	15,061	*	Sulzer AG.		1,653
	161,300		Sumitomo Electric Industries Ltd		2,114
	5,435	e	TAL International Group, Inc		221
	44,909		Tennant Co		2,936
	29,247	*,e	The ExOne Company		399
	18,487		Timken Co		779
	8,405	*,e	Titan Machinery, Inc		112
	6,400		Toyota Tsusho Corp		169
	44,059		Travis Perkins plc		1,272
	38,902	*	United Rentals, Inc		3,546
	49,198		Vallourec		1,201
	47,030	*	Vestas Wind Systems AS		1,939
	190,142		Vinci S.A.		10,864
	436,090		Volvo AB (B Shares)		5,278
	25,258	*	Wabash National Corp		356
	121,923		Wolseley plc		7,206
	20,710		Woodward Governor Co		1,057
			TOTAL CAPITAL GOODS		573,169
COMMERCIAL & PROFESSIONAL SERVICES - 0.3%
	2,604		ABM Industries, Inc		83
	29,936	e	Acacia Research (Acacia Technologies)		320
	268,721	*	ACCO Brands Corp		2,233
	13,967		Aggreko plc		316
	205,697		Brambles Ltd		1,799
	11,200		Bureau Veritas S.A.		240
	120,569		Capita Group plc		1,993
	19,200	*,e	CBIZ, Inc		179
	7,593		CDI Corp		107
	2,394	*	Copart, Inc		90
	9,841		Corporate Executive Board Co		786
	218,000	e	Dai Nippon Printing Co Ltd		2,118
	24,020		Deluxe Corp		1,664
	82,626		Dun & Bradstreet Corp		10,606
	22,336		Equifax, Inc		2,077
	2,000		Heidrick & Struggles International, Inc		49
	6,421		HNI Corp		354
	9,308	*	IHS, Inc (Class A)		1,059
	10,384	*	Innerworkings, Inc		70
	19,643		Interface, Inc		408

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	7,700		Intertek Group plc	$	285
	1,800		Kelly Services, Inc (Class A)		31
	29,712		Manpower, Inc		2,560
	3,562	*	Mistras Group, Inc		69
	2,100		Mobile Mini, Inc		90
	13,621	*	Navigant Consulting, Inc		177
	1,000	*	On Assignment, Inc		38
	109,843		R.R. Donnelley & Sons Co		2,108
	2,311		Resources Connection, Inc		40
	162,118		Robert Half International, Inc		9,811
	16,303	*	RPX Corp		235
	58,400		Secom Co Ltd		3,895
	472		SGS S.A.		900
	400		Societe BIC S.A.		57
	1,544	*	SP Plus Corp		34
	27,563		Tetra Tech, Inc		662
	179,000	e	Toppan Printing Co Ltd		1,377
	4,561		Viad Corp		127
	16,675		Waste Management, Inc		904
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		49,951
CONSUMER DURABLES & APPAREL - 0.7%
	30,934		Adidas-Salomon AG.		2,443
	8,236	*	Black Diamond, Inc		78
	32,738		Callaway Golf Co		312
	38,726		Christian Dior S.A.		7,289
	1,447		CSS Industries, Inc		43
	24,000	e	Electrolux AB (Series B)		686
	7,187		Ethan Allen Interiors, Inc		199
	23,400		Gildan Activewear, Inc		690
	596,700		Matsushita Electric Industrial Co Ltd		7,836
	504,012		Mattel, Inc		11,517
	7,456	*	Meritage Homes Corp		363
	9,802	*	Mohawk Industries, Inc		1,821
	23,800		Movado Group, Inc		679
	1,373		Nacco Industries, Inc (Class A)		73
	522,222		Nike, Inc (Class B)		52,394
	126,600	e	Nikon Corp		1,697
	11,961		Oxford Industries, Inc		902
	28,027		Pandora AS		2,552
	27,543		Ryland Group, Inc		1,342
	50,000		Sekisui Chemical Co Ltd		649
	96,000		Sekisui House Ltd		1,394
	141,000	*,e	Sharp Corp		276
	254,300		Sony Corp		6,801
	27,906	*	Under Armour, Inc (Class A)		2,253
	4,500	*	Unifi, Inc		162
	39,656		VF Corp		2,986
	306,000		Yue Yuen Industrial Holdings		1,083
			TOTAL CONSUMER DURABLES & APPAREL		108,520

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
CONSUMER SERVICES - 1.5%
	79,580		Accor S.A.	$	4,150
	30,700	e	Benesse Corp		966
	1,289	e	Bob Evans Farms, Inc		60
	25,421		Brinker International, Inc		1,565
	18,789	*	Chipotle Mexican Grill, Inc (Class A)		12,223
	74,916		Choice Hotels International, Inc		4,800
	91,310		Darden Restaurants, Inc		6,331
	1,346		DineEquity, Inc		144
	13,470		Domino’s Pizza, Inc		1,354
	7,832		Dunkin Brands Group, Inc		373
	67,720		InterContinental Hotels Group plc		2,641
	373,655		Marriott International, Inc (Class A)		30,012
	620,601		McDonald’s Corp		60,471
	444,431	*,e	MGM Mirage		9,346
	62,800		Oriental Land Co Ltd		4,755
	10,604	*	Popeyes Louisiana Kitchen, Inc		634
	15,664	*	Restaurant Brands International, Inc (Toronto)		601
	33,974		Royal Caribbean Cruises Ltd		2,781
	142,513	*	Ruby Tuesday, Inc		857
	29,578		Sonic Corp		938
	572,988		Starbucks Corp		54,262
	89,319		Starwood Hotels & Resorts Worldwide, Inc		7,458
	10,000	*,e	Weight Watchers International, Inc		70
	55,470		Whitbread plc		4,307
	253,012		William Hill plc		1,389
			TOTAL CONSUMER SERVICES		212,488
DIVERSIFIED FINANCIALS - 3.3%
	780,959		3i Group plc		5,580
	358,183		Aberdeen Asset Management plc		2,437
	4,200	e	AEON Financial Service Co Ltd		106
	623,104		American Express Co		48,677
	1,138,136		Bank of New York Mellon Corp		45,799
	118,823		BlackRock, Inc		43,470
	1,389,384		Charles Schwab Corp		42,293
	310,655		CME Group, Inc		29,422
	1,362		Cohen & Steers, Inc		56
	3,344	*	Credit Acceptance Corp		652
	69,415		Deutsche Boerse AG.		5,665
	623,742		Discover Financial Services		35,148
	17,718		Eurazeo		1,214
	130,529		Exor S.p.A.		5,921
	534,617		Franklin Resources, Inc		27,437
	24,115	*	Green Dot Corp		384
	474,920		Hong Kong Exchanges and Clearing Ltd		11,641
	551,827	*	ING Groep NV		8,083
	117,066		IntercontinentalExchange Group, Inc		27,308
	507,177		Invesco Ltd		20,130
	800,553		Investec plc		6,639
	3,030	*	Investment Technology Group, Inc		92
	61,166		Janus Capital Group, Inc		1,051
	60,728		Kinnevik Investment AB (Series B)		2,027

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	62,663		Legg Mason, Inc	$	3,459
	87,101		London Stock Exchange Group plc		3,168
	336,200		Mitsubishi UFJ Lease & Finance Co Ltd		1,661
	76,231		NASDAQ OMX Group, Inc		3,883
	10,345		Nelnet, Inc (Class A)		490
	513,669		Northern Trust Corp		35,777
	22,527	*,e	PHH Corp		545
	5,879	*	Pico Holdings, Inc		95
	10,635	*	Safeguard Scientifics, Inc		192
	84,965		Schroders plc		4,025
	431,029		State Street Corp		31,694
	209,897		T Rowe Price Group, Inc		16,997
	3,000		TD Ameritrade Holding Corp		112
	4,007		Wendel		478
			TOTAL DIVERSIFIED FINANCIALS		473,808
ENERGY - 4.2%
	5,495	e	AltaGas Income Trust		183
	52,019		AMEC plc		696
	337,903		Apache Corp		20,386
	7,320	*,e	Approach Resources, Inc		48
	78,800	e	ARC Resources Ltd		1,354
	263,533		Baker Hughes, Inc		16,755
	1,031,176		BG Group plc		12,656
	161,549	*	Callon Petroleum Co		1,207
	36,075		Caltex Australia Ltd		957
	108,251	*	Cameron International Corp		4,884
	5,527	e	CARBO Ceramics, Inc		169
	14,005	*	Carrizo Oil & Gas, Inc		695
	328,400	e	Cenovus Energy, Inc (Toronto)		5,536
	214,213	*	Cheniere Energy, Inc		16,580
	98,049		Cimarex Energy Co		11,284
	1,826	*,e	Clayton Williams Energy, Inc		92
	206,158	*,e	Clean Energy Fuels Corp		1,100
	29,437	*	Concho Resources, Inc		3,412
	39,499	*	Contango Oil & Gas Co		869
	239,024	*	Continental Resources, Inc		10,438
	66,200	e	Crescent Point Energy Corp		1,476
	21,961		Delek Group Ltd		5,652
	2,500		Delek US Holdings, Inc		99
	457,259		Devon Energy Corp		27,577
	371,374	e	Enbridge, Inc		17,901
	54,900		EnCana Corp		613
	2,011		Energen Corp		133
	72,600	e	Enerplus Resources Fund		736
	487,111		EOG Resources, Inc		44,663
	73,369		EQT Corp		6,080
	230,140		Galp Energia SGPS S.A.		2,489
	8,642	*,e	Geospace Technologies Corp		143
	386,241		Hess Corp		26,214
	315,600		Inpex Holdings, Inc		3,478
	201,413	*	ION Geophysical Corp		437

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	220,258	*	Key Energy Services, Inc	$	401
	13,830	e	Keyera Corp		920
	536,851		Marathon Oil Corp		14,017
	398,430		Marathon Petroleum Corp		40,795
	11,520	*	Matrix Service Co		202
	141,335	*	MEG Energy Corp		2,283
	422,877		National Oilwell Varco, Inc		21,140
	7,269	*	Natural Gas Services Group, Inc		140
	244,129		Neste Oil Oyj		6,406
	210,587	e	Noble Corp plc		3,007
	232,452		Noble Energy, Inc		11,367
	29,282	*,e	Northern Oil And Gas, Inc		226
	26,358	*	Oasis Petroleum, Inc		375
	605,495		Occidental Petroleum Corp		44,201
	225,695		OMV AG.		6,191
	153,232		Oneok, Inc		7,392
	40,855		Petrofac Ltd		575
	172,562	*	Petroquest Energy, Inc		397
	515,030		Phillips 66		40,481
	146,028		Pioneer Natural Resources Co		23,877
	98,692		Questar Market Resources, Inc		2,058
	804,006		Repsol YPF S.A.		14,967
	52,282	*,e	Rex Energy Corp		195
	894	*	SEACOR Holdings, Inc		62
	58,600		Showa Shell Sekiyu KK		535
	792,399		Spectra Energy Corp		28,661
	71,318		St. Mary Land & Exploration Co		3,686
	403,405		Statoil ASA		7,133
	578,067		Suncor Energy, Inc		16,892
	88,722		Superior Energy Services		1,982
	22,440		Technip S.A.		1,357
	305,039		Tenaris S.A.		4,276
	7,916		Tesoro Corp		723
	262,191		Tullow Oil plc		1,099
	36,311	*,e	Ultra Petroleum Corp		568
	27,062	*	Unit Corp		757
	8,180	e	US Silica Holdings Inc		291
	989,544	*	Weatherford International Ltd		12,171
	110,238		Western Refining, Inc		5,445
	218,885	*	Whiting Petroleum Corp		6,764
	451,724		Williams Cos, Inc		22,853
	211,793		Woodside Petroleum Ltd		5,549
			TOTAL ENERGY		609,409
FOOD & STAPLES RETAILING - 0.8%
	173,400		Aeon Co Ltd		1,902
	179,256		Carrefour S.A.		5,988
	13,576		Casino Guichard Perrachon S.A.		1,202
	5,000		Colruyt S.A.		218
	31,318		Delhaize Group		2,814
	437,617		J Sainsbury plc		1,679
	59,300		Jeronimo Martins SGPS S.A.		746

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	50,759		Koninklijke Ahold NV	$	1,000
	367,535		Kroger Co		28,175
	42,800		Loblaw Cos Ltd		2,093
	68,666		Metro AG.		2,327
	156,100		Seven & I Holdings Co Ltd		6,560
	9,498		Spartan Stores, Inc		300
	764,752		Sysco Corp		28,854
	2,938,974		Tesco plc		10,491
	282,933		Wesfarmers Ltd		9,448
	186,154		Whole Foods Market, Inc		9,695
	516,189		WM Morrison Supermarkets plc		1,475
			TOTAL FOOD & STAPLES RETAILING		114,967
FOOD, BEVERAGE & TOBACCO - 2.4%
	176,000		Ajinomoto Co, Inc		3,861
	113,342		Aryzta AG.		6,948
	249,505		Associated British Foods plc		10,413
	28,068		Bunge Ltd		2,312
	454		Calavo Growers, Inc		23
	261,990	e	Campbell Soup Co		12,196
	187,110		Coca-Cola Amatil Ltd		1,532
	93,674		Coca-Cola HBC AG.		1,685
	131,532		ConAgra Foods, Inc		4,805
	19,775	*	Darling International, Inc		277
	12,632		Dr Pepper Snapple Group, Inc		991
	14,539		Flowers Foods, Inc		330
	694,924		General Mills, Inc		39,333
	280,395		Groupe Danone		18,901
	344,616		Kellogg Co		22,727
	28,997		Kerry Group plc (Class A)		1,949
	92,604		Keurig Green Mountain, Inc		10,347
	31,000		Kikkoman Corp		983
	359,778		Kraft Foods Group, Inc		31,342
	1,165		Lindt & Spruengli AG.		6,236
	66		Lindt & Spruengli AG. (Registered)		4,175
	74,148		Mead Johnson Nutrition Co		7,454
	1,253,103		Mondelez International, Inc		45,224
	14,500		Nissin Food Products Co Ltd		713
	152,793		Orkla ASA		1,153
	781,664		PepsiCo, Inc		74,743
	18,700		Suntory Beverage & Food Ltd		801
	155,121		Tate & Lyle plc		1,375
	405,114		Unilever NV		16,929
	494,201		Unilever plc		20,620
	42,800	e	Yakult Honsha Co Ltd		2,981
			TOTAL FOOD, BEVERAGE & TOBACCO		353,359
HEALTH CARE EQUIPMENT & SERVICES - 2.5%
	1,136,517		Abbott Laboratories		52,655
	411,987		Aetna, Inc		43,889
	8,037	*	Align Technology, Inc		432
	67,982	*	Amedisys, Inc		1,821

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	136,510		AmerisourceBergen Corp	$	15,517
	10,800	*	Amsurg Corp		664
	6,026	*	Angiodynamics, Inc		107
	14,016	*,e	athenahealth, Inc		1,673
	260,286		Becton Dickinson & Co		37,375
	13,100	*,e	Bio-Reference Labs, Inc		462
	89,935	*,e	BioScrip, Inc		398
	38,727	*	Brookdale Senior Living, Inc		1,462
	205,654		Cardinal Health, Inc		18,564
	109,554	*	Centene Corp		7,744
	180,058	*	Cerner Corp		13,191
	89,229	*,e	Cerus Corp		372
	4,495	e	Chemed Corp		537
	191,455		Cigna Corp		24,782
	51,577		Coloplast AS		3,896
	1,249	e	Computer Programs & Systems, Inc		68
	700	*	Cyberonics, Inc		45
	91,587	*	DaVita, Inc		7,444
	15,359	*	Edwards Lifesciences Corp		2,188
	42,713	*	ExamWorks Group, Inc		1,778
	6,176	*	Greatbatch, Inc		357
	4,374	*	Haemonetics Corp		197
	21,280	*,e	Healthways, Inc		419
	10,561	*	HMS Holdings Corp		163
	125,907		Humana, Inc		22,414
	1,185	*	ICU Medical, Inc		110
	31,383	*	Idexx Laboratories, Inc		4,848
	61,900	*	Inverness Medical Innovations, Inc		3,027
	3,014	*	IPC The Hospitalist Co, Inc		141
	759	*	Laboratory Corp of America Holdings		96
	743		Landauer, Inc		26
	6,078	*	LHC Group, Inc		201
	58,522	*	LifePoint Hospitals, Inc		4,298
	1,730	*	MedAssets, Inc		33
	1,474	*	Medidata Solutions, Inc		72
	841,010		Medtronic plc		65,591
	9,612	*	Merit Medical Systems, Inc		185
	55,639	*	Molina Healthcare, Inc		3,744
	9,301	*	Natus Medical, Inc		367
	2,364	*	NxStage Medical, Inc		41
	3,000	*	Omnicell, Inc		105
	31,393	*	OraSure Technologies, Inc		205
	2,718		Owens & Minor, Inc		92
	86,208		Patterson Cos, Inc		4,206
	21,165	*	PharMerica Corp		597
	3,576	*	Providence Service Corp		190
	4,910		Quality Systems, Inc		78
	81,609		Ramsay Health Care Ltd		4,167
	3,688	*	Sirona Dental Systems, Inc		332
	44,483	*,e	Staar Surgical Co		331
	4,840		Suzuken Co Ltd		148
	96,200		Sysmex Corp		5,334

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	6,446	*	Tornier BV	$	169
	16,067	*	Triple-S Management Corp (Class B)		319
	8,101		Universal American Corp		87
	3,801		US Physical Therapy, Inc		181
	500	*	Varian Medical Systems, Inc		47
	33,652	*	Vocera Communications, Inc		334
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		360,316
HOUSEHOLD & PERSONAL PRODUCTS - 1.2%
	9,680	e	Beiersdorf AG.		839
	558,898		Colgate-Palmolive Co		38,754
	66,367		Estee Lauder Cos (Class A)		5,519
	210		Henkel KGaA		22
	57,678		Henkel KGaA (Preference)		6,775
	41,500		Kao Corp		2,072
	25,448		Kimberly-Clark Corp		2,726
	62,293		L’Oreal S.A.		11,474
	35,987	*	Medifast, Inc		1,079
	3,795	e	Nu Skin Enterprises, Inc (Class A)		228
	1,167,222		Procter & Gamble Co		95,642
	117,781		Reckitt Benckiser Group plc		10,118
	14,496		Svenska Cellulosa AB (B Shares)		333
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		175,581
INSURANCE - 3.3%
	347,009		ACE Ltd		38,688
	629,310		Aflac, Inc		40,282
	55,835		Allianz AG.		9,694
	1,481,698		AMP Ltd		7,232
	13,380		Arthur J. Gallagher & Co		625
	93,722		Aspen Insurance Holdings Ltd		4,426
	421,903		Assicurazioni Generali S.p.A.		8,295
	396,211		AXA S.A.		9,972
	30,787		Axis Capital Holdings Ltd		1,588
	760,759	*	Berkshire Hathaway, Inc (Class B)		109,793
	286,403		Chubb Corp		28,955
	280,593		CNP Assurances		4,918
	43,494		Delta Lloyd NV		820
	2,400		Employers Holdings, Inc		65
	279,246		Hartford Financial Services Group, Inc		11,678
	537,218		Insurance Australia Group Ltd		2,487
	1,916		Kemper Corp		75
	332,132		Marsh & McLennan Cos, Inc		18,629
	75,286		Muenchener Rueckver AG.		16,178
	2,849,807		Old Mutual plc		9,355
	15,856		PartnerRe Ltd		1,813
	235,312		Principal Financial Group		12,088
	401,946		Progressive Corp		10,933
	477,529		Prudential Financial, Inc		38,350
	743,752		Prudential plc		18,457
	12,747		RenaissanceRe Holdings Ltd		1,271
	333,784	*	RSA Insurance Group plc		2,080

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,017,943		Standard Life plc	$	7,153
	13,455		Stewart Information Services Corp		547
	169,853		Swiss Re Ltd		16,384
	177,900		T&D Holdings, Inc		2,444
	399,392		Travelers Cos, Inc		43,186
	10,000		Willis Group Holdings plc		482
	15,603		Zurich Financial Services AG.		5,274
			TOTAL INSURANCE		484,217
MATERIALS - 3.3%
	59,658		Agnico-Eagle Mines Ltd		1,658
	23,600	e	Agrium, Inc		2,460
	92,377		Air Liquide		11,893
	275,335		Air Products & Chemicals, Inc		41,653
	23,600		Akzo Nobel NV		1,784
	8,148		Albemarle Corp		431
	4,437		Aptargroup, Inc		282
	209,000		Asahi Kasei Corp		1,996
	176,082		Avery Dennison Corp		9,316
	63,073		Ball Corp		4,455
	201,130		BASF AG.		19,911
	491,599		Boliden AB		9,738
	8,161		Carpenter Technology Corp		317
	44,916		Celanese Corp (Series A)		2,509
	31,719	*,e	Century Aluminum Co		438
	2,372	*	Clearwater Paper Corp		155
	131,361		Commercial Metals Co		2,127
	14,183		Compass Minerals International, Inc		1,322
	157,703		CRH plc		4,124
	9,286		Domtar Corp		429
	5,941		DSM NV		331
	36,695		Eastman Chemical Co		2,541
	347,282		Ecolab, Inc		39,722
	5,690	*	Ferro Corp		71
	291,240		Fletcher Building Ltd		1,829
	33,738	*,e	Flotek Industries, Inc		497
	1,077,618	e	Fortescue Metals Group Ltd		1,595
	28,700		Franco-Nevada Corp		1,391
	2,179		Givaudan S.A.		3,937
	2,623		Globe Specialty Metals, Inc		50
	67,901		H.B. Fuller Co		2,911
	48,214		HeidelbergCement AG.		3,813
	38,897		Holcim Ltd		2,898
	4,713	*,e	Horsehead Holding Corp		60
	23,190		Innophos Holdings, Inc		1,307
	9,797		International Flavors & Fragrances, Inc		1,150
	227,283		International Paper Co		12,612
	122,500		JFE Holdings, Inc		2,704
	14,804		Johnson Matthey plc		742
	48,900		JSR Corp		847
	77,699		K&S AG.		2,532
	385,700	*	Kinross Gold Corp		856

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	643,000		Kobe Steel Ltd	$	1,186
	7,764	*	Kraton Polymers LLC		157
	58,000		Kuraray Co Ltd		785
	15,164		Lafarge S.A.		986
	46,374		Linde AG.		9,430
	173,029	*	Louisiana-Pacific Corp		2,857
	395,663		LyondellBasell Industries AF S.C.A		34,739
	212,757		MeadWestvaco Corp		10,610
	38,519		Minerals Technologies, Inc		2,816
	1,928,000		Mitsubishi Materials Corp		6,479
	120,960		Mitsui Chemicals, Inc		388
	113,537		Mosaic Co		5,229
	2,100		Myers Industries, Inc		37
	2,220		Neenah Paper, Inc		139
	303,877	*	Newcrest Mining Ltd		3,065
	3,308,000		Nippon Steel Corp		8,318
	20,600		Nitto Denko Corp		1,376
	693,722		Norsk Hydro ASA		3,646
	550,230		Nucor Corp		26,152
	53,242	e	Orica Ltd		808
	22,724	*	Owens-Illinois, Inc		530
	11,843		PolyOne Corp		442
	134,800		Potash Corp of Saskatchewan		4,346
	314,170		Praxair, Inc		37,933
	1,380		Quaker Chemical Corp		118
	8,303		Reliance Steel & Aluminum Co		507
	34,167	*	Resolute Forest Products		589
	18,745		Rexam plc		161
	13,246		Rock-Tenn Co (Class A)		854
	115,844		Royal Gold, Inc		7,311
	6,424	*	RTI International Metals, Inc		231
	850		Schnitzer Steel Industries, Inc (Class A)		13
	18,931		Sealed Air Corp		862
	52,038		Sherwin-Williams Co		14,805
	75,700		Shin-Etsu Chemical Co Ltd		4,942
	209,172		Sigma-Aldrich Corp		28,918
	169,865		Silver Wheaton Corp		3,227
	1,200		Stepan Co		50
	74,982	*	Stillwater Mining Co		969
	334,517		Stora Enso Oyj (R Shares)		3,439
	360,000		Sumitomo Chemical Co Ltd		1,848
	712,000		Sumitomo Metal Mining Co Ltd		10,406
	31,920	e	Taiyo Nippon Sanso Corp		434
	752,279		Teck Cominco Ltd		10,323
	27,000		Teijin Ltd		92
	305,000		Toray Industries, Inc		2,553
	117,300		Toyo Seikan Kaisha Ltd		1,716
	15,649		Umicore		654
	198,855		UPM-Kymmene Oyj		3,863
	60,125		Valspar Corp		5,052
	4,790		Wausau Paper Corp		46
	108,810	*	Worthington Industries, Inc		2,895
			TOTAL MATERIALS		470,726

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
MEDIA - 1.7%
	20,466		AMC Entertainment Holdings, Inc	$	726
	185,416	e	Cablevision Systems Corp (Class A)		3,393
	19,805		Cinemark Holdings, Inc		893
	114,560		Clear Channel Outdoor Holdings, Inc (Class A)		1,159
	317,815	*	DIRECTV		27,046
	305,579	*,e	Discovery Communications, Inc (Class A)		9,400
	492,711	*	Discovery Communications, Inc (Class C)		14,523
	52,293	*,e	DreamWorks Animation SKG, Inc (Class A)		1,265
	11,620	*	Entercom Communications Corp (Class A)		141
	41,962		Entravision Communications Corp (Class A)		266
	337,940		ITV plc		1,265
	1,900		JC Decaux S.A.		64
	10,069		John Wiley & Sons, Inc (Class A)		616
	131,215	*	Journal Communications, Inc (Class A)		1,945
	15,813		Lagardere S.C.A.		475
	535,024	*	Liberty Global plc		26,650
	447,867	*	Liberty Global plc (Class A)		23,052
	167,709	*	McClatchy Co (Class A)		309
	228,929		New York Times Co (Class A)		3,150
	428,148		Pearson plc		9,215
	18,429		ProSiebenSat. Media AG.		901
	13,504		Reed Elsevier plc		232
	1,550		Scholastic Corp		63
	60,413	e	Sinclair Broadcast Group, Inc (Class A)		1,898
	1,067,000	e	Singapore Press Holdings Ltd		3,257
	291,769		Time Warner Cable, Inc		43,730
	632,917		Time Warner, Inc		53,444
	37,566		Wolters Kluwer NV		1,227
	683,960		WPP plc		15,533
			TOTAL MEDIA		245,838
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.9%
	1,969	*	Acorda Therapeutics, Inc		66
	61,588		Actelion Ltd		7,103
	68,836	*,e	Affymetrix, Inc		865
	375,014		Agilent Technologies, Inc		15,582
	133,847	*	Akorn, Inc		6,359
	167,083	*	Alexion Pharmaceuticals, Inc		28,955
	423,871		Amgen, Inc		67,756
	60,887	*,e	Aratana Therapeutics, Inc		975
	634,800		Astellas Pharma, Inc		10,401
	140,225	*	Biogen Idec, Inc		59,208
	41,042	*	BioMarin Pharmaceuticals, Inc		5,115
	54,265	*	Bluebird Bio, Inc		6,554
	979,266		Bristol-Myers Squibb Co		63,163
	89,702	*	Cambrex Corp		3,555
	57,720	*	Cepheid, Inc		3,284
	126,900		Chugai Pharmaceutical Co Ltd		4,005
	19,300	e	Dainippon Sumitomo Pharma Co Ltd		229

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	158,406	*,e	Depomed, Inc	$	3,550
	49,400	e	Eisai Co Ltd		3,514
	228,825	*	Endo International plc		20,526
	4,519	*,e	Fluidigm Corp		190
	763,841	*	Gilead Sciences, Inc		74,956
	974,777		GlaxoSmithKline plc		22,439
	3,597	*	Hyperion Therapeutics, Inc		165
	4,270	*,e	Immunogen, Inc		38
	95,406	*,e	Immunomedics, Inc		365
	13,244	*	Ironwood Pharmaceuticals, Inc		212
	1,152,080		Johnson & Johnson		115,899
	9,195		Lonza Group AG.		1,145
	633,295	*,e	MannKind Corp		3,293
	1,373,994		Merck & Co, Inc		78,977
	47,883		Merck KGaA		5,359
	2,234	*	Mettler-Toledo International, Inc		734
	28,031	*,e	MiMedx Group, Inc		292
	2,769	*	Momenta Pharmaceuticals, Inc		42
	243,310	*,e	Nektar Therapeutics		2,676
	434,031		Novartis AG.		42,839
	434,632		Novo Nordisk AS		23,202
	200,087	*,e	Opko Health, Inc		2,835
	359,831	*,e	Orexigen Therapeutics, Inc		2,817
	8,654		Orion Oyj (Class B)		244
	12,565	*	PerkinElmer, Inc		643
	14,463	*	Prestige Brands Holdings, Inc		620
	139,561		Roche Holding AG.		38,350
	123,194	*	Sangamo Biosciences, Inc		1,932
	120,198	*,e	Sarepta Therapeutics, Inc		1,596
	232,800		Takeda Pharmaceutical Co Ltd		11,621
	313,499		Thermo Electron Corp		42,115
	16,960	*	United Therapeutics Corp		2,924
	66,649	*	Valeant Pharmaceuticals International, Inc		13,167
	167,998	*	Vertex Pharmaceuticals, Inc		19,819
	263,124	*,e	Vivus, Inc		647
	23,146	*	Waters Corp		2,878
	168,818	*	Xenoport, Inc		1,202
	461,758		Zoetis Inc		21,375
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		848,373
REAL ESTATE - 2.6%
	64,700		Aeon Mall Co Ltd		1,281
	19,852		American Campus Communities, Inc		851
	445,452		American Tower Corp		41,939
	1,371,886		Annaly Capital Management, Inc		14,268
	1,000		AvalonBay Communities, Inc		174
	120,047		Boston Properties, Inc		16,864
	248,240		British Land Co plc		3,060
	2,125,000		CapitaLand Ltd		5,539
	3,498,000		CapitaMall Trust		5,600
	180,729	*	CBRE Group, Inc		6,996
	151,000		City Developments Ltd		1,107

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	357,255		Crown Castle International Corp	$	29,488
	207,000		Daiwa House Industry Co Ltd		4,080
	366,699		Dexus Property Group		2,111
	5,728		Digital Realty Trust, Inc		378
	22,121		Douglas Emmett, Inc		659
	165,551		Duke Realty Corp		3,604
	218,281		Equity Residential		16,995
	300,754		First Industrial Realty Trust, Inc		6,445
	2,732	*	Forest City Enterprises, Inc (Class A)		70
	15,042		Gecina S.A.		2,034
	375,888		GPT Group (ASE)		1,306
	533,654		HCP, Inc		23,059
	197,133		Health Care REIT, Inc		15,250
	12,227		Healthcare Realty Trust, Inc		340
	736,502		Host Marriott Corp		14,863
	16,556		Invesco Mortgage Capital, Inc		257
	131,455	e	Iron Mountain, Inc		4,795
	291,636		Land Securities Group plc		5,414
	59,200		Lend Lease Corp Ltd		748
	381,212		Liberty International plc		1,965
	30,182		Liberty Property Trust		1,078
	54,403		Macerich Co		4,588
	164,281		Macquarie Goodman Group		791
	24,518		Mid-America Apartment Communities, Inc		1,895
	727,767		Mirvac Group		1,111
	305,810		Mitsui Fudosan Co Ltd		8,981
	199,495		Novion Property Group		380
	514,236		Prologis, Inc		22,400
	92,736		Ryman Hospitality Properties		5,649
	569,312		Segro plc		3,516
	253,392		Simon Property Group, Inc		49,573
	1,106,767		Stockland Trust Group		3,781
	289,000		Swire Pacific Ltd (Class A)		3,934
	461,400		Swire Properties Ltd		1,499
	41,786		Unibail-Rodamco		11,284
	96,747		Ventas, Inc		7,064
	142,947		Vornado Realty Trust		16,010
			TOTAL REAL ESTATE		375,074
RETAILING - 2.4%
	35,386	*	1-800-FLOWERS.COM, Inc (Class A)		419
	127,624		American Eagle Outfitters, Inc		2,180
	32,439	*	Ann Taylor Stores Corp		1,331
	39,356	*	AutoZone, Inc		26,847
	19,109	*	Barnes & Noble, Inc		454
	200,028	*	Bed Bath & Beyond, Inc		15,357
	132,772		Best Buy Co, Inc		5,017
	15,842		Big 5 Sporting Goods Corp		210
	810	*	Blue Nile, Inc		26
	7,961	*,e	Cabela’s, Inc		446
	7,000		Canadian Tire Corp Ltd		713
	81,708	*	Carmax, Inc		5,639

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	12,500		Fast Retailing Co Ltd	$	4,833
	512,825		Gap, Inc		22,221
	238,765		Genuine Parts Co		22,250
	23,293		GNC Holdings, Inc		1,143
	444,913	*,e	Groupon, Inc		3,208
	2,200		Haverty Furniture Cos, Inc		55
	130,647		Hennes & Mauritz AB (B Shares)		5,293
	26,410		HSN, Inc		1,802
	275,331		Inditex S.A.		8,840
	50,000	e	Jardine Cycle & Carriage Ltd		1,493
	417,700		Kingfisher plc		2,357
	234,875		Kohl’s Corp		18,379
	2,891,620		Li & Fung Ltd		2,823
	759,905	*	Liberty Interactive Corp		22,182
	737,644		Lowe’s Companies, Inc		54,873
	218,712		Macy’s, Inc		14,197
	15,623	*	MarineMax, Inc		414
	210,991		Marks & Spencer Group plc		1,669
	36,240	*	NetFlix, Inc		15,101
	6,625		Next plc		689
	66,728		Nordstrom, Inc		5,359
	2,000		Nutri/System, Inc		40
	217,335	*	Office Depot, Inc		1,999
	150,944	*	Orbitz Worldwide, Inc		1,760
	8,683	e	Outerwall, Inc		574
	35,119	e	Pier 1 Imports, Inc		491
	21,862		PPR		4,268
	42,056		Ross Stores, Inc		4,431
	49,713	*	Shutterfly, Inc		2,249
	567,973		Staples, Inc		9,249
	3,300		Stein Mart, Inc		41
	16,714		Tiffany & Co		1,471
	684,277		TJX Companies, Inc		47,934
	105,864	*	TripAdvisor, Inc		8,805
	111,000	e	Yamada Denki Co Ltd		457
			TOTAL RETAILING		351,589
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.3%
	66,931	*,e	Advanced Micro Devices, Inc		179
	1,562,488		Applied Materials, Inc		35,250
	72,184		ASML Holding NV		7,318
	15,582	*	Cirrus Logic, Inc		518
	63,601	*	Freescale Semiconductor Holdings Ltd		2,592
	2,388,539		Intel Corp		74,689
	21,682		Lam Research Corp		1,523
	541,931	*	ON Semiconductor Corp		6,563
	266,513		STMicroelectronics NV		2,484
	97,663	*,e	SunPower Corp		3,058
	40,230		Teradyne, Inc		758
	877,220		Texas Instruments, Inc		50,164
	32,000		Tokyo Electron Ltd		2,220
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		187,316

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
SOFTWARE & SERVICES - 5.2%
	552,794		Accenture plc	$	51,791
	14,474	*	Actua Corp		224
	529,300	*	Adobe Systems, Inc		39,136
	1,660		Advent Software, Inc		73
	24,648		Amadeus IT Holding S.A.		1,056
	123,886	*,e	Angie’s List, Inc		727
	234,202	*	AOL, Inc		9,277
	1,856	*	Aspen Technology, Inc		71
	12,878		Atos Origin S.A.		886
	201,046	*	Autodesk, Inc		11,789
	128,405		Broadridge Financial Solutions, Inc		7,064
	485,524		CA, Inc		15,833
	24,502	*	Cadence Design Systems, Inc		452
	37,120		Cap Gemini S.A.		3,045
	24,400	*	CGI Group, Inc		1,035
	712,075	*	Cognizant Technology Solutions Corp (Class A)		44,426
	14,644	*	comScore, Inc		750
	20,058		Convergys Corp		459
	2,100		EPIQ Systems, Inc		38
	33,100		Equinix, Inc		7,707
	6,214		Factset Research Systems, Inc		989
	5,718		Fair Isaac Corp		507
	9,572	*	FleetCor Technologies, Inc		1,445
	30,365	*	Fortinet, Inc		1,061
	592,000		Fujitsu Ltd		4,037
	263,047	*,e	Glu Mobile, Inc		1,318
	142,264	*	Google, Inc		77,961
	140,923	*	Google, Inc (Class A)		78,170
	50,701	*	HomeAway, Inc		1,530
	8,867	*	Infoblox, Inc		212
	91,530	*	Informatica Corp		4,014
	478,239		International Business Machines Corp		76,757
	409,298		Intuit, Inc		39,686
	16,036		j2 Global, Inc		1,053
	65,872	*,e	Liquidity Services, Inc		651
	17,866	*,e	Marketo, Inc		458
	1,000		MAXIMUS, Inc		67
	39,456	e	Mercadolibre, Inc		4,834
	267,035	*,e	Monster Worldwide, Inc		1,693
	3,035	*,e	NetSuite, Inc		282
	19,743	*,e	NeuStar, Inc (Class A)		486
	10,700		Nomura Research Institute Ltd		402
	20,400	e	NTT Data Corp		886
	8,900	e	Open Text Corp		470
	1,707,742		Oracle Corp		73,689
	70,953	*	Rackspace Hosting, Inc		3,660
	68,110	*	Rally Software Development Corp		1,069
	7,887	*	Rovi Corp		144
	672,232	*	Salesforce.com, Inc		44,912
	253,087		SAP AG.		18,292

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	17,954	*	Seachange International, Inc	$	141
	229,842	*,e	ServiceSource International LLC		713
	5,854	*	SolarWinds, Inc		300
	2,000	*	SPS Commerce, Inc		134
	22,307	*	Stamps.com, Inc		1,501
	976,463		Symantec Corp		22,815
	12,936	*	Syntel, Inc		669
	4,529	*	Tangoe, Inc		63
	20,999	*,e	Teradata Corp		927
	6,527	*	Ultimate Software Group, Inc		1,109
	16,010	*	Unisys Corp		372
	51,253	*,e	Vasco Data Security International		1,104
	56,575	*	Workday, Inc		4,775
	2,521,433		Xerox Corp		32,400
	946,293	*	Yahoo!, Inc		42,049
			TOTAL SOFTWARE & SERVICES		745,646
TECHNOLOGY HARDWARE & EQUIPMENT - 2.4%
	8,103		Adtran, Inc		151
	116,347	*	Aruba Networks, Inc		2,849
	4,234		Belden CDT, Inc		396
	2,571	*	Benchmark Electronics, Inc		62
	11,711		Black Box Corp		245
	3,303	*	Calix Networks, Inc		28
	445,100		Canon, Inc		15,748
	14,572		Checkpoint Systems, Inc		158
	2,618,523		Cisco Systems, Inc		72,075
	53,700		Citizen Watch Co Ltd		412
	9,600	*	Cognex Corp		476
	909	*	Coherent, Inc		59
	790,945		Corning, Inc		17,939
	87,821	*	Cray, Inc		2,466
	3,605	*	DTS, Inc		123
	1,318	*	Electronics for Imaging, Inc		55
	1,720,163		EMC Corp		43,967
	1,358		FEI Co		104
	103,068	*,e	Finisar Corp		2,199
	90,753	*	Flextronics International Ltd		1,150
	1,388,789		Hewlett-Packard Co		43,275
	5,600		Hitachi High-Technologies Corp		170
	59,600		Ibiden Co Ltd		1,005
	166,234	*	Ingram Micro, Inc (Class A)		4,176
	11,659	*	Insight Enterprises, Inc		333
	7,090		InterDigital, Inc		360
	5,000	*,e	InvenSense, Inc		76
	30,066	*,e	IPG Photonics Corp		2,787
	1,920	*	Itron, Inc		70
	41,052		Jabil Circuit, Inc		960
	10,800		Keyence Corp		5,894
	188,500		Konica Minolta Holdings, Inc		1,910
	126,200		Kyocera Corp		6,897
	54,381		Lexmark International, Inc (Class A)		2,303

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	195,721		Motorola, Inc	$	13,049
	52,900		Murata Manufacturing Co Ltd		7,265
	2,100		National Instruments Corp		67
	287,000		NEC Corp		843
	7,919	*	Netgear, Inc		260
	46,700		Omron Corp		2,104
	500	*	OSI Systems, Inc		37
	1,774		Plantronics, Inc		94
	1,420	*	Plexus Corp		58
	53,913	*	QLogic Corp		795
	958,786		Qualcomm, Inc		66,482
	23,440	*,e	RealD, Inc		300
	110,400		Ricoh Co Ltd		1,200
	2,500	*	Rofin-Sinar Technologies, Inc		61
	1,300	*	Scansource, Inc		53
	251,773		Seagate Technology, Inc		13,100
	54,256	*,e	Silicon Graphics International Corp		471
	76,798	*	Super Micro Computer, Inc		2,550
	1,417		SYNNEX Corp		109
	48,800		TDK Corp		3,455
	5,429	*	Tech Data Corp		314
	13,773	*,e	TTM Technologies, Inc		124
	10,708	*,e	Universal Display Corp		501
	2,708	*	Vishay Precision Group, Inc		43
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		344,213
TELECOMMUNICATION SERVICES - 1.6%
	60,049		Belgacom S.A.		2,101
	54,553	*,e	Boingo Wireless, Inc		411
	1,975,901		BT Group plc		12,839
	979,915		CenturyTel, Inc		33,856
	161,417	*	Cincinnati Bell, Inc		570
	2,650	e	Consolidated Communications Holdings, Inc		54
	5,740		IDT Corp (Class B)		102
	124,952	*,e	Iridium Communications, Inc		1,213
	395,400		KDDI Corp		8,933
	56,905	*	Level 3 Communications, Inc		3,064
	137,300		Nippon Telegraph & Telephone Corp		8,476
	499,800		NTT DoCoMo, Inc		8,734
	78,082	e	Rogers Communications, Inc (Class B)		2,614
	174,600		Softbank Corp		10,169
	1,474,468	*,e	Sprint Corp		6,989
	17,918		Swisscom AG.		10,390
	699,891		TeliaSonera AB		4,448
	20,600		TELUS Corp		684
	1,884,680		Verizon Communications, Inc		91,652
	5,904,966		Vodafone Group plc		19,323
	266,368	*	Vonage Holdings Corp		1,308
			TOTAL TELECOMMUNICATION SERVICES		227,930
TRANSPORTATION - 1.7%
	773		Allegiant Travel Co		149

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	4,146		Arkansas Best Corp	$	157
	485,202		Auckland International Airport Ltd		1,630
	104,766		Autostrade S.p.A.		2,751
	112,409	*	Avis Budget Group, Inc		6,634
	207,088		Canadian National Railway Co		13,869
	43,300		Central Japan Railway Co		7,825
	1,017,005		CSX Corp		33,683
	95,817		Deutsche Lufthansa AG.		1,342
	409,028		Deutsche Post AG.		12,743
	71,700		East Japan Railway Co		5,746
	8,074	*	Echo Global Logistics, Inc		220
	5		Expeditors International of Washington, Inc		0	^
	5,413		Fraport AG. Frankfurt Airport Services Worldwide		323
	103,000		Mitsui OSK Lines Ltd		349
	2,084,425		MTR Corp		9,914
	33,765		Norfolk Southern Corp		3,475
	276,500		Singapore Airlines Ltd		2,407
	845,232		Southwest Airlines Co		37,444
	228,000		Tokyu Corp		1,411
	523,719		Union Pacific Corp		56,724
	499,283		United Parcel Service, Inc (Class B)		48,400
			TOTAL TRANSPORTATION		247,196
UTILITIES - 2.1%
	35,914		AGL Energy Ltd		416
	8,000		American States Water Co		319
	13,544		American Water Works Co, Inc		734
	85,880	*	Calpine Corp		1,964
	223,054		Centerpoint Energy, Inc		4,553
	1,121,628		Centrica plc		4,195
	861		Chesapeake Utilities Corp		44
	102,007		Cleco Corp		5,561
	1,080,500		CLP Holdings Ltd		9,444
	455,602		Consolidated Edison, Inc		27,792
	558,814		Duke Energy Corp		42,906
	28,688		Enel Green Power S.p.A		53
	515,499		Energias de Portugal S.A.		1,931
	334,247		Eversource Energy		16,886
	3,118,709		Hong Kong & China Gas Ltd		7,221
	1,433,344		Iberdrola S.A.		9,243
	7,771		Integrys Energy Group, Inc		560
	93,713		MGE Energy, Inc		4,153
	1,208,829		National Grid plc		15,541
	22,560		New Jersey Resources Corp		701
	423,338		NextEra Energy, Inc		44,048
	479,656		NiSource, Inc		21,182
	1,420	e	Ormat Technologies, Inc		54
	51,000		Osaka Gas Co Ltd		213
	732,871		Pepco Holdings, Inc		19,663
	201,808		Piedmont Natural Gas Co, Inc		7,449
	31,789		Public Service Enterprise Group, Inc		1,333
	360,233		Scottish & Southern Energy plc		7,995

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY					VALUE (000)
	253,916		Sempra Energy					$	27,682
	27,089		SJW Corp						837
	533,038		Snam Rete Gas S.p.A.						2,587
	46,662		South Jersey Industries, Inc						2,533
	50,626		Suez Environnement S.A.						872
	90,839		TECO Energy, Inc						1,762
	658,790		Tokyo Gas Co Ltd						4,142
	1,494		Unitil Corp						52
	27,296		WGL Holdings, Inc						1,539
	46,752		Wisconsin Energy Corp						2,314
	107,597		Xcel Energy, Inc						3,745
			TOTAL UTILITIES						304,219
			TOTAL COMMON STOCKS						8,595,379
			(Cost $5,729,393)
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	233,115	*,e	Federal Home Loan Mortgage Corp						970
	740,991	*	Federal National Mortgage Association						3,082
	14,500	*,e	M&T Bank Corp						15,587
			TOTAL BANKS						19,639
			TOTAL PREFERRED STOCKS						19,639
			(Cost $38,865)
RIGHTS / WARRANTS - 0.0%
BANKS - 0.0%
	1,800,950		Banco Bilbao Vizcaya Argentaria S.A.						259
			TOTAL BANKS						259
			TOTAL RIGHTS / WARRANTS						259
			(Cost $255)
PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 7.3%
GOVERNMENT AGENCY DEBT - 1.5%
$	30,000,000	w	Federal Home Loan Bank (FHLB)		0.050	%	04/15/15		30,000
	28,800,000	w	FHLB		0.060		04/24/15		28,799
	100,000,000	w	FHLB		0.058		05/08/15		99,996
	50,000,000	w	FHLB		0.067		06/03/15		49,994
			TOTAL GOVERNMENT AGENCY DEBT						208,789
TREASURY DEBT - 3.7%
	13,500,000	w	United States Treasury Bill		0.060-0.080		04/02/15		13,500
	19,900,000	w	United States Treasury Bill		0.060-0.050		04/23/15		19,900
	14,200,000	w	United States Treasury Bill		0.090		04/30/15		14,200
	8,800,000	w	United States Treasury Bill		0.081-0.092		05/28/15		8,799
	17,000,000	w	United States Treasury Bill		0.096-0.141		06/25/15		16,999
	7,000,000		United States Treasury Bill		0.067		08/13/15		6,999

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,000,000	w	United States Treasury Bill		0.083-0.100	%	08/20/15	$	1,999
	20,000,000		United States Treasury Bill		0.082		08/27/15		19,994
	133,900,000	w	United States Treasury Bill		0.080-0.100		09/17/15		133,836
	143,000,000	w	United States Treasury Bill		0.091-0.100		10/15/15		142,898
	91,000,000	w	United States Treasury Bill		0.138-0.140		11/12/15		90,910
	67,000,000	w	United States Treasury Bill		0.133-0.150		12/10/15		66,919
			TOTAL TREASURY DEBT						536,953
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.1%
COMMERCIAL PAPER - 2.1%
	30,000,000		Federal Home Loan Bank (FHLB)		0.045		04/06/15		30,000
	41,855,000		FHLB		0.040-0.055		04/10/15		41,855
	20,000,000		FHLB		0.050		04/15/15		20,000
	62,000,000		FHLB		0.045		04/24/15		61,998
	30,000,000		FHLB		0.050		05/08/15		29,998
	28,634,000		FHLB		0.050		05/15/15		28,632
	23,500,000		FHLB		0.069		05/26/15		23,498
	30,000,000		FHLB		0.067		06/03/15		29,996
	20,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.050		04/02/15		20,000
	10,000,000		FHLMC		0.065		04/06/15		10,000
	4,000,000		FHLMC		0.040		04/10/15		4,000
			TOTAL COMMERCIAL PAPER						299,977
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						299,977
			TOTAL SHORT-TERM INVESTMENTS						1,045,719
			(Cost $1,045,765)
			TOTAL INVESTMENTS - 106.4%						15,351,867
			(Cost $12,343,147)
			OTHER ASSETS & LIABILITIES, NET - (6.4)%						(911,794	)
			NET ASSETS - 100.0%					$	14,440,073

	Abbreviation(s):
REIT	Real Estate Investment Trust
*	Non-income producing
^	Amount represents less than $1,000.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $328,365,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 03/31/15 the aggregate value of these securities was $638,090,000, or 4.4% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.

w	All or a portion of these securities have been segregated by the custodian to cover collateral requirements on mortgage dollar rolls.
	Cost amounts are in thousands.

395

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND
MONEY MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2015

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 100.0%
ASSET BACKED - 0.5%
$	4,076,108		GE Equipment Midticket LLC		0.200	%	09/22/15	$	4,076
	2,045,831		Honda Auto Receivables Owner Trust		0.190		08/17/15		2,046
	38,207,481		Honda Auto Receivables Owner Trust		0.240		02/16/16		38,207
	7,841,612		John Deere Owner Trust		0.210		09/24/15		7,842
			TOTAL ASSET BACKED						52,171
CERTIFICATE OF DEPOSIT - 2.3%
	36,000,000		Banco Del Estado De Chile		0.200		04/08/15		36,000
	25,360,000		Banco Del Estado De Chile		0.205		04/14/15		25,360
	50,000,000		Banco Del Estado De Chile		0.210		04/20/15		50,000
	25,000,000		Banco Del Estado De Chile		0.210		06/17/15		25,000
	22,000,000		Banco Del Estado De Chile		0.210		06/19/15		22,000
	50,000,000		Canadian Imperial Bank of Commerce		0.140		04/15/15		50,000
	50,000,000		Toronto-Dominion Bank		0.170		04/09/15		50,000
			TOTAL CERTIFICATE OF DEPOSIT						258,360
COMMERCIAL PAPER - 40.2%
	30,000,000		American Honda Finance Corp		0.110		05/07/15		29,997
	19,750,000		American Honda Finance Corp		0.125		06/23/15		19,744
	24,700,000	y	Apple, Inc		0.075		04/01/15		24,700
	25,000,000	y	Apple, Inc		0.110		04/06/15		25,000
	21,150,000	y	Apple, Inc		0.095		04/07/15		21,150
	25,000,000	y	Apple, Inc		0.100		04/08/15		24,999
	8,500,000	y	Apple, Inc		0.095		04/10/15		8,500
	2,500,000	y	Apple, Inc		0.080		04/23/15		2,500
	18,500,000	y	Apple, Inc		0.095		05/29/15		18,497
	45,000,000	y	Apple, Inc		0.100		06/05/15		44,992
	50,000,000	y	Apple, Inc		0.100		06/08/15		49,990
	40,000,000	y	Apple, Inc		0.091		06/22/15		39,992
	29,000,000	y	Australia & New Zealand Banking Group Ltd		0.145		04/13/15		28,999
	55,000,000	y	Australia & New Zealand Banking Group Ltd		0.155-0.160		04/16/15		54,996
	50,000,000	y	Australia & New Zealand Banking Group Ltd		0.160-0.200		04/27/15		49,993
	50,000,000	y	Australia & New Zealand Banking Group Ltd		0.165		04/30/15		49,993
	1,000,000	y	Australia & New Zealand Banking Group Ltd		0.200		05/20/15		1,000
	25,000,000	y	Australia & New Zealand Banking Group Ltd		0.215		05/22/15		24,992
	10,000,000	y	Bank of Nova Scotia		0.220		04/02/15		10,000
	25,000,000		Bank of Tokyo-Mitsubishi UFJ Ltd		0.100		04/07/15		25,000
	12,500,000	y	Bedford Row Funding Corp		0.140		05/18/15		12,498
	25,000,000	y	Bedford Row Funding Corp		0.145		06/01/15		24,994
	14,600,000	y	Bedford Row Funding Corp		0.245		06/15/15		14,593
	20,000,000	y	Bedford Row Funding Corp		0.260		06/23/15		19,988
	32,590,000	y	Bedford Row Funding Corp		0.260		08/03/15		32,561

396

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	22,050,000	y	Coca-Cola Co		0.130	%	04/27/15	$	22,048
	25,420,000	y	Coca-Cola Co		0.120		04/29/15		25,418
	37,500,000	y	Coca-Cola Co		0.120		05/21/15		37,494
	25,000,000	y	Coca-Cola Co		0.160		06/09/15		24,992
	50,000,000	y	Commonwealth Bank of Australia		0.195		04/07/15		49,998
	20,000,000	y	Commonwealth Bank of Australia		0.195		04/08/15		19,999
	55,000,000	y	Commonwealth Bank of Australia		0.150-0.155		06/30/15		54,979
	50,000,000	y	DBS Bank Ltd		0.170		04/06/15		49,999
	50,000,000	y	DBS Bank Ltd		0.165		04/14/15		49,997
	30,000,000	y	DBS Bank Ltd		0.183		04/28/15		29,996
	40,600,000	y	DBS Bank Ltd		0.180-0.185		05/01/15		40,594
	1,200,000	y	DBS Bank Ltd		0.200		06/03/15		1,199
	20,000,000		Exxon Mobil Corp		0.075		04/14/15		19,999
	60,000,000		Exxon Mobil Corp		0.095-0.105		04/21/15		59,997
	40,000,000		Exxon Mobil Corp		0.085		04/27/15		39,998
	55,000,000		Exxon Mobil Corp		0.090-0.120		05/11/15		54,993
	35,000,000		Exxon Mobil Corp		0.120		05/13/15		34,995
	15,720,000		Exxon Mobil Corp		0.095		05/21/15		15,718
	40,000,000		Exxon Mobil Corp		0.095		05/28/15		39,994
	6,013,000	y	Fairway Finance LLC		0.130		04/06/15		6,013
	15,000,000	y	Fairway Finance LLC		0.170		04/13/15		14,999
	25,000,000	y	Fairway Finance LLC		0.190		05/01/15		24,996
	18,000,000	y	Fairway Finance LLC		0.200		06/04/15		17,994
	25,000,000	y	Fairway Finance LLC		0.200		06/08/15		24,990
	42,836,000	y	Fairway Finance LLC		0.200-0.230		07/07/15		42,811
	10,000,000	y	Fairway Finance LLC		0.240		08/05/15		9,992
	30,000,000		General Electric Capital Corp		0.180		04/17/15		29,998
	19,155,000		General Electric Capital Corp		0.180		05/04/15		19,152
	19,500,000		General Electric Capital Corp		0.120-0.130		05/14/15		19,497
	20,000,000		General Electric Capital Corp		0.180		05/19/15		19,995
	6,750,000		General Electric Capital Corp		0.130		06/04/15		6,748
	11,800,000		General Electric Capital Corp		0.230-0.240		08/04/15		11,790
	20,000,000		General Electric Capital Corp		0.320		10/14/15		19,965
	28,456,000	y	Hydro-Quebec		0.110		04/13/15		28,455
	23,000,000	y	Jupiter Securitization Co LLC		0.145		04/01/15		23,000
	17,310,000	y	Jupiter Securitization Co LLC		0.200		04/28/15		17,307
	20,000,000	y	Jupiter Securitization Co LLC		0.260		06/09/15		19,990
	13,000,000	y	Kimberly-Clark Corp		0.105		04/20/15		12,999
	50,000,000		Kingdom of Denmark		0.080		05/28/15		49,994
	30,000,000		Korea Development Bank		0.210		04/21/15		29,996
	30,000,000		Korea Development Bank		0.180		04/23/15		29,997
	25,000,000		Korea Development Bank		0.230		04/28/15		24,995
	26,700,000		Korea Development Bank		0.210		05/05/15		26,695
	19,070,000		Korea Development Bank		0.310		05/21/15		19,062
	25,000,000		Korea Development Bank		0.205		06/17/15		24,989
	24,035,000	y	Liberty Street Funding LLC		0.175		04/06/15		24,034
	80,375,000	y	Liberty Street Funding LLC		0.160-0.185		04/13/15		80,371
	21,000,000	y	Liberty Street Funding LLC		0.150		04/14/15		20,999
	50,000,000	y	Liberty Street Funding LLC		0.180-0.190		04/20/15		49,995

397

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	56,130,000	y	Liberty Street Funding LLC		0.175-0.185	%	04/23/15	$	56,124
	25,000,000	y	Liberty Street Funding LLC		0.180		05/06/15		24,996
	40,000,000	y	Merck & Co, Inc		0.080		04/16/15		39,999
	10,325,000	y	Merck & Co, Inc		0.080		04/28/15		10,324
	40,000,000	y	Microsoft Corp		0.095		04/15/15		39,999
	10,000,000	y	Nestle Capital Corp		0.110		04/02/15		10,000
	30,000,000	y	Nestle Capital Corp		0.100		05/12/15		29,996
	50,000,000	y	Nestle Capital Corp		0.130		06/12/15		49,987
	43,000,000	y	Nestle Capital Corp		0.140		07/08/15		42,984
	25,000,000	y	Novartis Finance Corp		0.110		04/08/15		24,999
	14,000,000	y	Old Line Funding LLC		0.190		04/10/15		13,999
	1,000,000	y	Old Line Funding LLC		0.250		04/22/15		1,000
	20,000,000	y	Old Line Funding LLC		0.200		04/27/15		19,997
	17,500,000	y	Old Line Funding LLC		0.200		07/15/15		17,490
	31,465,000	y	Old Line Funding LLC		0.200		07/16/15		31,446
	10,857,000	y	Old Line Funding LLC		0.280		08/03/15		10,847
	3,500,000	y	Old Line Funding LLC		0.280		09/02/15		3,496
	20,000,000	y	Old Line Funding LLC		0.280		09/10/15		19,975
	26,170,000		Oversea-Chinese Banking Corp Ltd		0.200		07/23/15		26,154
	40,200,000		Oversea-Chinese Banking Corp Ltd		0.205		08/03/15		40,172
	13,700,000		PACCAR Financial Corp		0.105		04/07/15		13,700
	5,800,000		PACCAR Financial Corp		0.110		04/27/15		5,800
	20,500,000		PACCAR Financial Corp		0.125		06/18/15		20,494
	32,000,000	y	Pfizer, Inc		0.110-0.115		04/09/15		31,999
	5,000,000	y	Pfizer, Inc		0.100		05/07/15		4,999
	25,000,000	y	Procter & Gamble Co		0.110		05/18/15		24,996
	17,000,000	y	Procter & Gamble Co		0.110		05/26/15		16,997
	15,000,000	y	Procter & Gamble Co		0.100		06/02/15		14,998
	35,850,000	y	Procter & Gamble Co		0.100		06/04/15		35,844
	50,000,000	y	Procter & Gamble Co		0.100		06/10/15		49,990
	38,200,000		Province of British Columbia		0.120		04/09/15		38,199
	16,290,000		Province of British Columbia		0.110		04/16/15		16,289
	9,115,000		Province of British Columbia		0.100		07/16/15		9,112
	8,480,000		Province of British Columbia		0.150		08/17/15		8,475
	60,000,000		Province of Ontario Canada		0.100		04/02/15		60,000
	32,145,000		Province of Ontario Canada		0.100-0.130		04/06/15		32,144
	14,395,000		Province of Ontario Canada		0.130		04/07/15		14,395
	15,000,000		Province of Ontario Canada		0.130		04/09/15		14,999
	15,000,000		Province of Ontario Canada		0.130		04/13/15		14,999
	14,315,000		Province of Ontario Canada		0.070		04/14/15		14,315
	16,000,000		Province of Ontario Canada		0.090		04/27/15		15,999
	24,595,000		Province of Ontario Canada		0.110		04/30/15		24,593
	50,000,000		Province of Ontario Canada		0.110		05/05/15		49,995
	37,456,000		Province of Ontario Canada		0.110		05/06/15		37,452
	43,427,000	y	Province of Quebec Canada		0.110		04/06/15		43,426
	25,000,000	y	Province of Quebec Canada		0.130		05/28/15		24,995
	105,230,000	y	Province of Quebec Canada		0.100		06/02/15		105,212
	29,458,000	y	Province of Quebec Canada		0.100		06/08/15		29,452
	9,420,000	y	Province of Quebec Canada		0.100		06/10/15		9,418

398

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	15,000,000	y	Province of Quebec Canada		0.130	%	06/17/15	$	14,996
	25,750,000	y	Province of Quebec Canada		0.110		06/23/15		25,744
	20,250,000	y	PSP Capital, Inc		0.170		04/06/15		20,250
	5,500,000	y	PSP Capital, Inc		0.170		04/08/15		5,500
	30,595,000	y	PSP Capital, Inc		0.165-0.170		04/10/15		30,594
	35,000,000	y	PSP Capital, Inc		0.170		04/16/15		34,998
	15,000,000	y	PSP Capital, Inc		0.170		04/20/15		14,999
	18,000,000	y	PSP Capital, Inc		0.165		04/22/15		17,998
	3,800,000	y	PSP Capital, Inc		0.250		04/23/15		3,799
	8,000,000	y	PSP Capital, Inc		0.170		04/30/15		7,999
	30,000,000	y	PSP Capital, Inc		0.150		05/06/15		29,996
	10,000,000	y	PSP Capital, Inc		0.140		05/11/15		9,998
	25,000,000	y	PSP Capital, Inc		0.180		06/10/15		24,991
	17,000,000	y	PSP Capital, Inc		0.150		06/19/15		16,994
	11,000,000	y	PSP Capital, Inc		0.160-0.180		07/06/15		10,995
	30,000,000		Royal Bank of Canada		0.090		04/20/15		29,999
	20,000,000		Royal Bank of Canada		0.110		05/26/15		19,997
	50,425,000		Shell International Finance BV		3.100		06/28/15		50,770
	8,000,000	y	Thunder Bay Funding LLC		0.290		09/04/15		7,990
	50,000,000	y	Toronto-Dominion Holdings USA, Inc		0.120		04/14/15		49,998
	50,000,000	y	Toronto-Dominion Holdings USA, Inc		0.140		04/22/15		49,996
	25,000,000	y	Toronto-Dominion Holdings USA, Inc		0.140		05/07/15		24,996
	18,000,000	y	Toronto-Dominion Holdings USA, Inc		0.170-0.210		06/01/15		17,994
	30,000,000	y	Toronto-Dominion Holdings USA, Inc		0.160		06/16/15		29,990
	50,000,000	y	Toronto-Dominion Holdings USA, Inc		0.175		07/02/15		49,977
	25,000,000	y	Toronto-Dominion Holdings USA, Inc		0.200		07/13/15		24,986
	70,000,000		Toyota Motor Credit Corp		0.160		04/17/15		69,995
	35,000,000		Toyota Motor Credit Corp		0.150		04/21/15		34,997
	25,000,000		Toyota Motor Credit Corp		0.150		05/19/15		24,995
	11,700,000		Toyota Motor Credit Corp		0.150		05/21/15		11,697
	40,000,000		Toyota Motor Credit Corp		0.150		05/26/15		39,991
	6,000,000		Toyota Motor Credit Corp		0.220		06/01/15		5,998
	50,000,000	y	Unilever Capital Corp		0.080		04/02/15		50,000
	20,000,000	y	Unilever Capital Corp		0.080		04/23/15		19,999
	20,000,000	y	Unilever Capital Corp		0.095		05/04/15		19,998
	53,000,000	y	Unilever Capital Corp		0.100		05/26/15		52,992
	19,750,000	y	Unilever Capital Corp		0.115		06/08/15		19,746
	50,000,000	y	United Overseas Bank Ltd		0.160		04/21/15		49,996
	12,485,000	y	United Overseas Bank Ltd		0.240		05/12/15		12,482
	23,300,000	y	United Overseas Bank Ltd		0.245-0.250		08/26/15		23,276
	32,620,000	y	United Overseas Bank Ltd		0.255-0.260		09/08/15		32,582
	22,730,000	y	Wal-Mart Stores, Inc		0.060		04/27/15		22,729
	25,000,000	y	Westpac Banking Corp		0.225		05/20/15		24,992
	5,000,000	y	Westpac Banking Corp		0.220		05/27/15		4,998
	16,850,000	y	Westpac Banking Corp		0.235		06/01/15		16,843
			TOTAL COMMERCIAL PAPER						4,546,013

399

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
GOVERNMENT AGENCY DEBT - 28.8%
$	50,000,000	Federal Farm Credit Bank (FFCB)		0.110	%	04/22/15	$	49,997
	14,445,000	FFCB		0.080		05/20/15		14,443
	36,561,000	Federal Home Loan Bank (FHLB)		0.040-0.100		04/01/15		36,561
	15,000,000	FHLB		0.065		04/06/15		15,000
	50,000,000	FHLB		0.085		04/07/15		49,999
	47,000,000	FHLB		0.090		04/08/15		46,999
	7,700,000	FHLB		0.095		04/09/15		7,700
	147,245,000	FHLB		0.063-0.100		04/10/15		147,242
	44,100,000	FHLB		0.070-0.103		04/15/15		44,098
	70,758,000	FHLB		0.065-0.105		04/17/15		70,755
	16,300,000	FHLB		0.060-0.070		04/20/15		16,299
	30,000,000	FHLB		0.090		04/21/15		29,998
	74,838,000	FHLB		0.065-0.150		04/22/15		74,835
	15,000,000	FHLB		0.060		04/23/15		14,999
	184,145,000	FHLB		0.064-0.165		04/24/15		184,136
	40,000,000	FHLB		0.060-0.065		04/28/15		39,998
	150,237,000	FHLB		0.055-0.100		04/29/15		150,229
	121,500,000	FHLB		0.060-0.090		05/01/15		121,493
	15,690,000	FHLB		0.050-0.080		05/04/15		15,689
	33,815,000	FHLB		0.060-0.085		05/06/15		33,813
	77,434,000	FHLB		0.058-0.075		05/08/15		77,429
	102,989,000	FHLB		0.060-0.075		05/13/15		102,981
	13,100,000	FHLB		0.090		05/14/15		13,099
	96,570,000	FHLB		0.065-0.080		05/15/15		96,561
	28,600,000	FHLB		0.065		05/18/15		28,598
	154,704,000	FHLB		0.065-0.097		05/20/15		154,688
	31,190,000	FHLB		0.070		05/21/15		31,187
	150,180,000	FHLB		0.060-0.100		05/22/15		150,165
	97,665,000	FHLB		0.065-0.075		05/27/15		97,655
	142,300,000	FHLB		0.063-0.080		05/29/15		142,285
	150,000,000	FHLB		0.067		06/03/15		149,982
	104,830,000	FHLB		0.070-0.080		06/05/15		104,816
	41,325,000	FHLB		0.078-0.110		06/10/15		41,319
	43,200,000	FHLB		0.075		06/11/15		43,194
	25,000,000	FHLB		0.080		06/15/15		24,996
	30,000,000	FHLB		0.101		06/17/15		29,994
	123,835,000	FHLB		0.075-0.090		06/19/15		123,812
	100,000,000	FHLB		0.078		06/26/15		99,981
	7,000,000	FHLB		0.080		07/06/15		6,998
	7,100,000	FHLB		0.105		07/17/15		7,098
	15,000,000	FHLB		0.080		07/22/15		14,996
	19,400,000	FHLB		0.130		07/24/15		19,392
	9,960,000	FHLB		0.075		07/29/15		9,958
	29,500,000	FHLB		0.120-0.135		08/07/15		29,486
	9,500,000	FHLB		0.135		09/02/15		9,494
	14,800,000	Federal Home Loan Mortgage Corp (FHLMC)		0.045-0.095		04/01/15		14,800
	3,900,000	FHLMC		0.085		04/14/15		3,900
	3,000,000	FHLMC		0.045		04/27/15		3,000

400

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,700,000	FHLMC		0.065	%	04/28/15	$	4,700
	3,540,000	FHLMC		0.080		05/04/15		3,540
	4,994,000	FHLMC		0.130		05/11/15		4,993
	20,000,000	FHLMC		0.050		05/12/15		19,999
	3,600,000	FHLMC		0.060		05/13/15		3,600
	570,000	FHLMC		0.075		05/15/15		570
	4,780,000	FHLMC		0.065		06/12/15		4,779
	12,210,000	FHLMC		0.080		06/22/15		12,208
	1,500,000	FHLMC		0.085		07/10/15		1,500
	3,005,000	FHLMC		0.100		07/14/15		3,004
	21,783,000	FHLMC		0.119-0.125		08/21/15		21,773
	20,000,000	FHLMC		0.170		09/11/15		19,984
	5,000,000	FHLMC		0.140		11/03/15		4,996
	20,550,000	FHLMC		0.240-0.260		11/16/15		20,517
	10,550,000	Federal National Mortgage Association (FNMA)		0.038		04/01/15		10,550
	10,000,000	FNMA		0.080		04/08/15		10,000
	8,000,000	FNMA		0.150		04/13/15		8,000
	1,900,000	FNMA		0.055		04/16/15		1,900
	4,200,000	FNMA		0.050-0.065		04/27/15		4,200
	13,676,000	FNMA		0.065-0.140		05/01/15		13,675
	42,500,000	FNMA		0.050		05/04/15		42,498
	18,085,000	FNMA		0.050-0.115		05/13/15		18,083
	8,250,000	FNMA		0.065-0.100		05/21/15		8,249
	37,860,000	FNMA		0.065-0.070		06/01/15		37,856
	1,000,000	FNMA		0.080		06/02/15		1,000
	70,000,000	FNMA		0.060		06/16/15		69,991
	48,180,000	FNMA		0.058-0.180		06/24/15		48,160
	38,173,000	FNMA		0.090		07/01/15		38,164
	20,000,000	FNMA		0.110		08/17/15		19,991
		TOTAL GOVERNMENT AGENCY DEBT						3,254,627
TREASURY DEBT - 15.9%
	810,000	United States Treasury Bill		0.030		04/02/15		810
	53,755,000	United States Treasury Bill		0.035-0.038		04/09/15		53,754
	20,000,000	United States Treasury Bill		0.041		04/16/15		20,000
	50,500,000	United States Treasury Bill		0.050		04/23/15		50,498
	45,970,000	United States Treasury Bill		0.035-0.066		05/07/15		45,967
	29,100,000	United States Treasury Bill		0.061-0.063		05/14/15		29,098
	40,120,000	United States Treasury Bill		0.024-0.072		05/21/15		40,118
	22,145,000	United States Treasury Bill		0.065-0.070		05/28/15		22,143
	20,000,000	United States Treasury Bill		0.036		06/04/15		19,999
	20,000,000	United States Treasury Bill		0.020-0.103		06/11/15		19,998
	30,000,000	United States Treasury Bill		0.040-0.069		06/18/15		29,996
	40,000,000	United States Treasury Bill		0.061-0.081		06/25/15		39,993
	25,445,000	United States Treasury Bill		0.041-0.074		07/02/15		25,441
	40,400,000	United States Treasury Bill		0.031-0.061		07/23/15		40,395
	10,000,000	United States Treasury Bill		0.056		08/06/15		9,998
	20,000,000	United States Treasury Bill		0.071-0.081		08/13/15		19,994
	80,000,000	United States Treasury Bill		0.060-0.101		08/20/15		79,976

401

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	29,005,000		United States Treasury Bill		0.067-0.082	%	08/27/15	$	28,996
	1,480,000		United States Treasury Bill		0.076		09/03/15		1,480
	10,000,000		United States Treasury Bill		0.113		09/24/15		9,994
	10,000,000		United States Treasury Bill		0.160		11/12/15		9,990
	20,000,000		United States Treasury Bill		0.196-0.198		02/04/16		19,966
	80,000,000		United States Treasury Note		0.375		04/15/15		80,010
	77,435,000		United States Treasury Note		0.125		04/30/15		77,437
	100,000,000		United States Treasury Note		0.250		05/15/15		100,021
	106,975,000		United States Treasury Note		0.375		06/15/15		107,031
	100,000,000		United States Treasury Note		0.375		06/30/15		100,069
	140,000,000		United States Treasury Note		0.250		07/15/15		140,046
	86,420,000		United States Treasury Note		0.250		07/31/15		86,462
	100,000,000		United States Treasury Note		0.375		08/31/15		100,090
	66,995,000		United States Treasury Note		0.250		09/15/15		67,035
	60,300,000		United States Treasury Note		0.250		09/30/15		60,333
	81,660,000		United States Treasury Note		0.250		10/15/15		81,684
	45,000,000		United States Treasury Note		0.250		11/30/15		45,015
	48,295,000		United States Treasury Note		0.250		12/15/15		48,316
	18,280,000		United States Treasury Note		0.250		12/31/15		18,285
	30,000,000		United States Treasury Note		0.375		01/15/16		30,037
	1,275,000		United States Treasury Note		0.250		02/29/16		1,275
	40,000,000		United States Treasury Note		0.375		03/15/16		40,024
			TOTAL TREASURY DEBT						1,801,774
VARIABLE RATE SECURITIES - 12.3%
	35,000,000	i	Federal Farm Credit Bank (FFCB)		0.160		04/01/15		35,000
	95,000,000	i	FFCB		0.180		04/13/15		95,000
	94,500,000	i	FFCB		0.180		05/27/15		94,498
	54,500,000	i	FFCB		0.200		08/10/15		54,505
	50,000,000	i	FFCB		0.185		09/09/15		50,000
	45,000,000	i	FFCB		0.250		09/21/15		45,014
	65,000,000	i	FFCB		0.150		10/01/15		64,997
	50,000,000	i	FFCB		0.166		11/04/15		49,997
	70,000,000	i	FFCB		0.200		01/13/16		70,000
	60,100,000	i	FFCB		0.250		02/01/16		60,136
	20,000,000	i	FFCB		0.140		03/29/16		19,992
	50,000,000	i	FFCB		0.143		04/21/16		49,988
	36,000,000	i	FFCB		0.280		06/09/16		36,041
	45,000,000	i	FFCB		0.170		06/23/16		44,989
	150,000,000	i	FFCB		0.145		08/10/16		149,965
	50,000,000	i	FFCB		0.154		08/24/16		49,979
	10,000,000	i	FFCB		0.197		10/11/16		10,002
	76,000,000	i	FFCB		0.172		03/02/17		76,000
	20,000,000	i	Federal Home Loan Bank (FHLB)		0.220		08/14/15		20,003
	50,000,000	i	FHLB		0.200		08/19/15		50,000
	40,000,000	i	FHLB		0.138		11/27/15		39,998
	50,000,000	i	Federal Home Loan Mortgage Corp (FHLMC)		0.168		07/21/16		49,993
	50,000,000	i	FHLMC		0.181		01/13/17		49,991

402

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	21,497,000	i	Federal National Mortgage Association (FNMA)		0.195	%	08/15/16	$	21,506
	50,000,000	i	Wells Fargo Bank NA		0.300		10/06/15		50,000
	50,000,000	i	Wells Fargo Bank NA		0.310		03/10/16		50,000
			TOTAL VARIABLE RATE SECURITIES						1,387,594
			TOTAL SHORT-TERM INVESTMENTS						11,300,539
			(Cost $11,300,539)
			TOTAL INVESTMENTS - 100.0%						11,300,539
			(Cost $11,300,539)
			OTHER ASSETS & LIABILITIES, NET - 0.0%						4,203
			NET ASSETS - 100.0%					$	11,304,742

i	Floating or variable rate security. Coupon rate reflects the rate at period end.
y	Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration only to dealers in that program or other “accredited investors.” At 03/31/15, the aggregate value of these securities was $3,126,980,000, or 27.7% of net assets.
	Cost amounts are in thousands.

403

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of Investments (unaudited)

Note 1—organization and significant accounting policies

The purpose of the College Retirement Equities Fund (“CREF”), as stated in its charter, is to aid and strengthen non-profit educational and research organizations, governmental entities, and other non-profit institutions by providing their employees with variable retirement benefits. CREF is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company. It consists of eight investment portfolios: the Stock, Global Equities, Growth, Equity Index, Bond Market, Inflation-Linked Bond, Social Choice and Money Market Accounts (individually referred to as the “Account” or collectively referred to as the “Accounts”).

The accompanying schedules of investments were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) which may require the use of estimates made by management. Actual results may differ from those estimates. The Accounts are investment companies and follow the accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services—Investment Companies. The following is a summary of the significant accounting policies consistently followed by the Accounts.

Security valuation: For all Accounts (other than the Money Market Account), investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the schedule of investments. Investments held by the Money Market Account are recorded at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter accreting or amortizing any discount or premium to its face value at a constant rate until maturity.

Investment transactions: Security transactions are accounted for as of the trade date for financial reporting purposes. 

Foreign currency transactions and translation: Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day using exchange rates obtained from an independent third party. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is reflected as a component of security gains and losses.

Transactions with affiliates: The Accounts may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Board of Trustees (“Board”) pursuant to the 1940 Act. These transactions are effected at market rates without incurring broker commissions.

New accounting pronouncement: In June 2014, the FASB issued Accounting Standards Update No. 2014-11 Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financing, and Disclosures (the “Update”). The Update will require, amongst other items, additional disclosures for transactions that are accounted for as secured borrowings, such as loaned securities. The Update is effective for annual reporting periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The Accounts expect to adopt the Update for the June 30, 2015 semiannual report.

New rule issuance: In July 2014, the U.S. Securities and Exchange Commission issued Final Rule Release No. 33-9616, Money Market Account Reform; Amendments to Form PF, which amends the rules governing money market accounts. The final amendments impose different implementation dates for the changes that certain money market accounts will need to make. Management is currently evaluating the implication of these amendments and their impact of the Final Rule to the Account's financial statements and related disclosures.

Note 2—valuation of investments

Portfolio investments are valued at fair value utilizing various valuation methods approved by the 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 Accounts’ 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 in Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

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

404

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of Investments (unaudited)

Exchange-traded equity securities, common and preferred stock: Equity securities listed or traded on a national market or exchange are valued based on their sale price on such market or exchange at the close of business on the date of valuation, or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign investments are valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. For events affecting the value of foreign securities between the time when the exchange on which they are traded closes and the time when the Accounts’ net assets are calculated, such securities will be valued at fair value in accordance with procedures adopted by the Board. Foreign securities are generally categorized in Level 2 of the fair value hierarchy.

Debt securities: Debt securities, including equity-linked notes, will generally be valued using prices provided by a pricing service that may employ various indications of value including but not limited to broker-dealer quotations. Certain debt securities, including money market instruments, are valued based on the most recent bid price or the equivalent quoted yield for such securities (or those of comparable maturity, quality and type). Debt securities are generally categorized in Level 2 of the fair value hierarchy; in instances where prices, yields or any other key inputs are unobservable, they are categorized in Level 3 of the hierarchy.

The Money Market Account: The Money Market Account’s portfolio securities are valued on an amortized cost basis. Money Market investments are generally categorized in Level 2 of the fair value hierarchy.

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

Futures contracts: Stock and bond index futures, which are traded on commodity exchanges, are valued at the last sale price as of the close of such commodity exchanges and are categorized in Level 1 of the fair value hierarchy.

Options: Purchased and written options listed or traded on a national market or exchange are valued at the last sale price as of the close of such exchange or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy.

Credit default swap contracts: Credit default swap contracts are marked-to-market daily based upon a price utilized by a pricing service. Credit default swaps are generally categorized as Level 2 in the fair value hierarchy.

Any portfolio security for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value, as determined in good faith using procedures approved by the Board. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized as Level 3.

Transfers between levels are recognized at the end of the reporting period. For the period ended March 31, 2015, there were no material transfers between levels by the Accounts.

405

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of Investments (unaudited)

As of March 31, 2015, 100% of the value of investments in the Inflation-Linked Bond and Money Market Accounts were valued based on Level 2 inputs.

The following table summarizes the market value of the Accounts’ investments as of March 31, 2015, based on the inputs used to value them (dollar amounts are in thousands):

Account	Level 1			Level 2		Level 3		Total
Stock
Equity investments:
Consumer discretionary	$	12,192,494		$	5,333,511	$	3,181	$	17,529,186
Consumer staples		6,968,101			3,337,476		210		10,305,787
Energy		6,410,460			2,275,375		1		8,685,836
Financials		14,130,907			9,876,139		1,504		24,008,550
Health care		12,995,515			3,424,211		358		16,420,084
Industrials		9,400,797			4,678,365		943		14,080,105
Information technology		17,085,010			3,218,427		2		20,303,439
Materials		3,124,295			3,002,208		1,029		6,127,532
Telecommunication services		1,663,473			1,560,818		497		3,224,788
Utilities		2,475,165			1,122,999		476		3,598,640
Corporate bonds		-			595		469		1,064
Government bonds		-			301		-		301
Equity-linked notes		2,441			-		2,243		4,684
Purchased options**		5			-		-		5
Written options**		(11	)		-		-		(11	)
Short-term investments		-			5,794,715		-		5,794,715
Futures**		4,106			-		-		4,106
Total	$	86,452,758		$	43,625,140	$	10,913	$	130,088,811
Global Equities
Equity investments:
Asia	$	-		$	1,564,754	$	-	$	1,564,754
Australasia		-			351,492		-		351,492
Europe		295,477			3,824,064		-		4,119,541
North America		10,973,960			621,660		-		11,595,620
All other equity investments*		86,472			1,644,666		1		1,731,139
Short-term investments		-			711,071		-		711,071
Futures**		1,350			-		-		1,350
Total	$	11,357,259		$	8,717,707	$	1	$	20,074,967
Growth
Equity investments:
Consumer discretionary	$	4,480,808		$	123,550	$	-	$	4,604,358
Consumer staples		1,600,751			42,334		-		1,643,085
Financials		1,467,859			12,849		-		1,480,708
Health care		3,515,276			41,118		-		3,556,394
Industrials		2,111,994			24,320		-		2,136,314
Information technology		6,745,248			106,600		-		6,851,848
All other equity investments*		1,784,452			-		-		1,784,452
Short-term investments		427,293			205,918		-		633,211
Futures**		461			-		-		461
Total	$	22,134,142		$	556,689	$	-	$	22,690,831
Equity Index
Equity investments:
Health care	$	2,511,364		$	-	$	82	$	2,511,446
Telecommunication services		345,694			-		118		345,812
All other equity investments*		14,391,474			-		-		14,391,474
Short-term investments		549,146			9,299		-		558,445
Futures**		18			-		-		18
Total	$	17,797,696		$	9,299	$	200	$	17,807,195

406

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of Investments (unaudited)

Account	Level 1		Level 2		Level 3		Total
Bond Market
Bank loan obligations	$	-	$	116,347	$	-	$	116,347
Corporate bonds		599		4,955,260		-		4,955,859
Government bonds		-		6,246,732		-		6,246,732
Structured assets		-		2,031,787		-		2,031,787
Preferred Stocks		8,310		-		-		8,310
Short-term investments		-		2,280,628		-		2,280,628
Total	$	8,909	$	15,630,754	$	-	$	15,639,663
Social Choice
Equity investments:
Consumer discretionary	$	930,747	$	218,502	$	-	$	1,149,249
Consumer staples		463,077		180,830		-		643,907
Energy		487,500		121,909		-		609,409
Financials		1,344,173		509,484		-		1,853,657
Health care		1,011,526		197,163		-		1,208,689
Industrials		649,920		220,396		-		870,316
Information technology		1,188,139		89,036		-		1,277,175
Materials		309,219		161,507		-		470,726
Telecommunication services		139,219		88,711		-		227,930
Utilities		240,366		63,853		-		304,219
Bank loan obligations		-		55,212		-		55,212
Corporate bonds		-		1,852,784		-		1,852,784
Government bonds		-		3,413,888		-		3,413,888
Structured assets		-		368,987		-		368,987
Short-term investments		-		1,045,719		-		1,045,719
Total	$	6,763,886	$	8,587,981	$	-	$	15,351,867

* For detailed categories, see the accompanying Schedules of investments.

** Derivative instruments, excluding purchased options, are not reflected in the Schedules of investments.

Note 3—derivative instruments

As defined by U.S. GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variables. Derivatives require little or no initial investment and permit or require net settlement. The Accounts value derivatives at fair value.

Futures contracts: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. The Accounts use futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract, and variation margin receipts or payments are settled daily reflecting changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures, there is minimal counterparty credit risk to the Accounts since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures against default.

407

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of Investments (unaudited)

At March 31, 2015, the Accounts held the following open futures contracts (dollar amounts are in thousands):

Account	Futures	Number of contracts		Settlement value		Expiration date	Unrealized gain (loss)
Stock	S&P 500 Index E-Mini		2,071	$	213,396	June 2015	$	2,509
	S&P Mid-Cap 400 E-Mini		176		26,748	June 2015		879
	Russell 2000 Mini Index		164		20,482	June 2015		718
Total			2,411	$	260,626		$	4,106
Global Equities	S&P 500 Index E-Mini		1,087		112,004	June 2015		1,350
Growth	S&P 500 Index E-Mini		650		66,976	June 2015		461
Equity Index	S&P 500 Index E-Mini		69		7,110	June 2015		5
	S&P Mid-Cap 400 E-Mini		4		608	June 2015		6
	Russell 2000 Mini Index		5		624	June 2015		7
Total			78	$	8,342		$	18

Options: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. The Accounts use options contracts for hedging and cash management purposes and to seek to increase total return. Call and put options give the holder the right, in return for a premium paid, to purchase or sell, respectively, a security at a specified exercise price at any time during the period of the option. Purchased options are included in the schedule of investments. Premiums on unexercised, expired options are recorded as realized gains or losses; premiums on exercised options are recorded as an adjustment to the proceeds from the sale or cost of the purchase. The difference between the premium and the amount received or paid in a closing transaction is also treated as a realized gain or loss. Risks related to the use of options include possible illiquidity of the options markets and price movements in underlying security values.

Purchased options outstanding as of March 31, 2015 were as follows (dollar amounts are in thousands):

	Number of contracts		Value
Stock Account
Apple, Inc, Call, 4/17/15 at $125		20	$	5
Total		20	$	5
Written options outstanding as of March 31, 2015 were as follows (dollar amounts are in thousands):
		Number of Contracts		Value
Stock Account
Amazon.com, Inc, Call, 4/17/15 at $400		10	$	(1	)
Amazon.com, Inc, Put, 4/17/15 at $337.50		10		—
Amazon.com, Inc, Call, 4/17/15 at $410		10		—
Amazon.com, Inc, Call, 7/17/15 at $440		20		(8	)
Apple, Inc, Call, 4/17/15 at $130		20		(2	)
Apple, Inc, Call, 4/17/15 at $135		20		—
Total		90	$	(11	)

408

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of Investments (unaudited)

Note 4—affiliated investments

Companies in which an Account holds 5% or more of the outstanding voting shares are considered “affiliated companies” of the Account, pursuant to the 1940 Act. Information regarding transactions with affiliate companies is as follows (dollar amounts are in thousands):

Issue	Value at December 31, 2014		Purchase cost		Sales proceeds		Realized gain (loss)			Dividend income		Shares at March 31, 2015			Value at March 31, 2015
Stock Account
Berry Plastics Group Inc	$	226,929	$	190	$	46,532	$	17,205		$	-		-	**	$	-
Louisiana-Pacific Corp		*		12,594		457		(36	)		-		7,297,602			120,483
Papa Murphy’s Holdings Inc		11,747		-		-		-			-		1,010,918			18,338
	$	238,676	$	12,784	$	46,989	$	17,169		$	-				$	138,821
Growth Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	417,995	$	155,383	$	146,085	$	-		$	-		427,292,533		$	427,293
Equity Index Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	564,844	$	59,345	$	75,043	$	-		$	-		549,146,032		$	549,146

* Not an affiliate investment as of December 31, 2014

** Not an affiliate investment as of March 31, 2015

Note 5—investments

Securities lending: Certain Accounts may lend their securities to qualified institutional borrowers to earn additional income. An Account receives collateral (in the form of cash, Treasury securities or other collateral permitted by applicable law) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of loaned securities during the period of the loan; any additional collateral required due to changes in security values is delivered to the Account the next business day. Cash collateral received by the Account will generally be invested in high-quality short-term instruments or in one or more funds maintained by the securities lending agent (“Agent”) for the purpose of investing cash collateral. In lending its securities, an Account bears the market risk with respect to the investment of collateral and the risk the Agent may default on its contractual obligations to the Account. The Agent bears the risk that the borrower may default on its obligation to return the loaned securities as the Agent is contractually obligated to indemnify the Account if at the time of a default by a borrower some or all of the loan securities have not been returned.

409

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules of Investments (unaudited)

Repurchase agreements: Each Account may enter into repurchase agreements with banks or broker-dealers. Repurchase agreements involve the purchase of securities from an institution, subject to the seller’s agreement to repurchase and the Account’s agreement to resell such securities at a mutually agreed-upon price. Pursuant to the terms of the repurchase agreement, securities purchased subject to repurchase agreements must have an aggregate market value greater than or equal to the agreed- upon repurchase price plus accrued interest at all times. If the value of the underlying securities falls below the value of the repurchase price plus accrued interest, the Account will require the seller to deposit additional collateral by the next business day. If a request for additional collateral is not met, or if the seller defaults on its repurchase obligation, the Account maintains the right to sell the underlying securities at market value and pursue a claim for any remaining loss against the seller.

Securities purchased on a when-issued or delayed-delivery basis: The Accounts may purchase securities on a when-issued or delayed-delivery basis. Securities purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after trade date; interest income is not accrued until settlement date. At the time an Account enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its when-issued or delayed-delivery purchase commitments.

Treasury Inflation-Protected Securities: The Accounts (other than the Money Market Account) may invest in Treasury Inflation-Protected Securities, specially structured bonds in which the principal amount is adjusted periodically to keep pace with inflation, as measured by the U.S. Consumer Price Index.

Mortgage dollar rolls transactions: Some of the Accounts may enter into mortgage dollar rolls in which an Account sells mortgage securities for delivery in the current month, realizing a gain (loss), and simultaneously contracts to repurchase similar securities on a specified future date. During the roll period, an Account forgoes principal and interest paid on the securities. The Account is compensated by the interest earned on the cash proceeds of the initial sale and by the lower repurchase price at the future date. The difference between the sales proceeds and the lower repurchase price is recorded as a realized gain. The Account maintains a segregated account, the dollar value of which is at least equal to its obligations with respect to dollar rolls.

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

Equity-linked notes: Equity-linked notes are debt securities issued by banks or broker-dealers and are designed to offer a return linked to an underlying security or market index. Equity-linked notes are structured with a defined maturity date. When the note matures, the issuer will pay to, or receive from the Account, the difference between the nominal value of the underlying instrument at the time of purchase and that instrument’s value at maturity. The Account will record a realized gain or loss on the transaction. The note is valued daily and any change in the value of the note is reflected in net unrealized gains and losses. Investments in equity-linked notes involve the same risks associated with a direct investment in the underlying security or index that the notes seek to replicate. In addition, there is also counterparty risk associated with these investments because the Account is relying on the creditworthiness of such counterparty and has no rights under an equity-linked note against the issuer of the underlying security.

Net unrealized appreciation (depreciation): At March 31, 2015, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation was as follows (dollar amounts are in thousands):

Account	Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Stock	$	19,141,069	$	(4,592,117	)	$	14,548,952
Global Equities		3,070,982		(584,509	)		2,486,473
Growth		5,302,165		(217,369	)		5,084,796
Equity Index		8,548,562		(496,823	)		8,051,739
Bond Market		387,416		(88,995	)		298,421
Inflation-Linked Bond		569,320		(50,167	)		519,153
Social Choice		3,258,157		(249,437	)		3,008,720

410

Item 2. Controls and Procedures.

(a) An evaluation was performed within 90 days of the filing date of the report under the supervision of the Registrant’s management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the Registrant’s disclosure controls and procedures. Based on that evaluation, the Registrant’s management, including the principal executive officer and principal financial officer, concluded that the Registrant’s disclosure controls and procedures were effective for this quarterly reporting period.

(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer

3(b) Section 302 certification of the principal financial officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	COLLEGE RETIREMENT EQUITIES FUND
Date:  May 19, 2015		By:	/s/ Robert G. Leary
			Robert G. Leary
			Executive Vice President

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

Date:  May 19, 2015	By:	/s/ Robert G. Leary
		Robert G. Leary
		Executive Vice President
		(principal executive officer)

Date: May 19, 2015	By:	/s/ Virginia M. Wilson
		Virginia M. Wilson
		Executive Vice President,
		Chief Financial Officer and
		Principal Accounting Officer
		(principal financial officer)

EXHIBIT LIST

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer

3(b) Section 302 certification of the principal financial officer