UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number     File No. 811-08520

TIAA SEPARATE ACCOUNT VA-1

(Exact name of Registrant as specified in charter)

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

(Address of principal executive offices) (Zip code)

Stewart P. Greene, Esq.

c/o TIAA-CREF

730 Third Avenue

New York, New York 10017-3206

(Name and address of agent for service)

Registrant’s telephone number, including area code: 212-490-9000

Date of fiscal year end: December 31

Date of reporting period: December 31, 2012

Item 1. Reports to Stockholders.

Understanding this report

This annual report contains information about the TIAA Separate Account VA-1 and describes the account’s results for the twelve months ended December 31, 2012. The report contains three main sections:

• The account performance section compares the account’s investment returns with those of its benchmark index.

• The summary portfolio of investments lists the industries and types of securities in which the account had investments as of December 31, 2012.

• The financial statements provide detailed information about the operations and financial condition of the account.

The views and opinions expressed in this report are through the end of the period, as stated on the cover of this report. They are subject to change at any time based on a variety of factors. As such, they are not guarantees of future performance or investment results and should not be taken as investment advice. To see the risks of investing in the TIAA Separate Account VA-1, please refer to the latest prospectus.

As always, you should carefully consider the investment objectives, risks, charges and expenses of any account before investing. For a prospectus that contains this and other important information, please visit our website at tiaa-cref.org, or call 800 223-1200. We urge you to read the prospectus carefully before investing.

Contents
Information for contractowners	1
Important information about expenses	2
About the account’s benchmark	3
Account performance
Stock Index Account	4
Summary portfolio of investments	7
Audited financial statements
Statement of assets and liabilities	11
Statement of operations	12
Statement of changes in net assets	13
Financial highlights	14
Notes to financial statements	15
Report of independent registered public accounting firm	22
Management committee members and officers	23
How to reach us	Inside back cover

Information for contractowners

Portfolio holdings

The TIAA Separate Account VA-1’s summary portfolio of investments begins on page 7 of this report.

You can obtain a complete list of the portfolio holdings of the TIAA Separate Account VA-1 (Schedule of Investments) as of the most recently completed fiscal quarter in the following ways:

• By visiting our website at tiaa-cref.org; or

• By calling us at 800 842-2252 to request a copy free of charge.

You can also obtain a complete list of the portfolio holdings of the account as of the most recently completed fiscal quarter, and for prior quarter-ends, from our Securities and Exchange Commission (SEC) Form N-CSR and Form N-Q filings. Form N-CSR filings are as of December 31 or June 30; Form N-Q filings are as of March 31 or September 30. Copies of these forms are available:

• Through the Electronic Data Gathering and Retrieval System (EDGAR) on the SEC’s website at www.sec.gov; or

• From the SEC’s Office of Investor Education and Advocacy. (Call 202 551-8090 for more information.)

Proxy voting

The TIAA Separate Account VA-1’s ownership of stock gives it the right to vote on proxy issues of companies in which it invests. A description of our proxy voting policies and procedures can be found on our website at tiaa-cref.org or on the SEC’s website at www.sec.gov. You may also call us at 800 223-1200 to request a free copy. A report of how the account voted during the most recently completed twelve-month period ended June 30 can be found on our website or on Form N-PX at www.sec.gov.

Contacting TIAA-CREF

There are three easy ways to contact us: by email, using the Contact Us link at the top of our home page; by mail at TIAA-CREF, 730 Third Avenue, New York, NY 10017–3206; or by phone at 800 223-1200.

Account management

The TIAA Separate Account VA-1 is managed by a portfolio management team of Teachers Advisors, Inc. The members of this team are responsible for the day-to-day investment management of the account.

TIAA Separate Account VA-1  ¡  2012 Annual Report     1

Important information about expenses

All contractowners in the TIAA Separate Account VA-1 incur ongoing costs, including management fees and other account expenses.

The TIAA Separate Account VA-1 is the underlying investment vehicle for Teachers Personal Annuity contracts issued by Teachers Insurance and Annuity Association of America. Premium taxes may apply to certain contracts. Because of this additional charge, the cost to investors may be higher than the figures shown in the expense example. Information about this additional charge can be found in the prospectus.

The expense example that appears in the table on page 3 is intended to help you understand your ongoing costs (in U.S. dollars) and does not reflect transactional costs incurred by the account for buying and selling securities. The example is designed to help you compare these ongoing costs with the ongoing costs of investing in other variable annuity accounts and mutual funds. Contractowners in the TIAA Separate Account VA-1 do not incur a sales charge for purchases or other distributions.

The example is based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (July 1, 2012–December 31, 2012).

Actual expenses

The first line in the table uses the account’s actual expenses and its actual rate of return. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the six-month period.

Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses paid during period” to estimate the expenses you paid during the six-month period.

Hypothetical example for comparison purposes

The second line in the table shows hypothetical account values and expenses based on the account’s actual expense ratio for the six-month period and an assumed 5% per year rate of return before expenses. This was not the account’s actual return.

This hypothetical example cannot be used to estimate the actual expenses you paid for the period but rather allows you to compare the ongoing costs of investing in the account with the costs of other accounts. To do so, compare our 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other variable annuity accounts and mutual funds.

2     2012 Annual Report  ¡  TIAA Separate Account VA-1

Important information about expenses

Expense example

Six months ended December 31, 2012
Stock Index Account	Beginning account value (7/1/12)		Ending account value (12/31/12)		Expenses paid during period* (7/1/12–12/31/12)
Actual return		$1,000.00	$	1,061.22		$3.89
5% annual hypothetical return		1,000.00		1,021.37		3.81

* “Expenses paid during period” is based on the account’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 184/366. There were 184 days in the six months ended December 31, 2012. The account’s annualized six-month expense ratio for that period was 0.75%. The total annual expense ratio reflects a voluntary agreement by the account’s investment adviser to waive a portion of its fee. Without such waiver, the account’s total annual expense ratio would have been 0.90%. Although TIAA reserves the right to increase the account’s mortality and expense risk charge to a maximum of 1.00% of average daily net assets per year, the total annual expense ratio will never exceed 1.50%.

About the account’s benchmark

The account’s benchmark is the Russell 3000^® Index, which measures the performance of the stocks of the 3,000 largest publicly traded U.S. companies, based on market capitalization. The index measures the performance of about 98% of the total market capitalization of the publicly traded U.S. equity market.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

Russell 3000 is a trademark and service mark of Russell Investments. TIAA-CREF products are not promoted or sponsored by, or affiliated with, Russell Investments.

TIAA Separate Account VA-1  ¡  2012 Annual Report     3

Stock Index Account

Performance for the twelve months ended December 31, 2012

The Stock Index Account returned 15.60% for the year, compared with the 16.42% return of its benchmark, the Russell 3000^® Index.

For the period, the account’s return trailed that of its benchmark primarily because of the effect of expenses. The account’s return includes a deduction for expenses, while the benchmark’s does not. The account benefited from participating in a securities lending program and had a risk profile similar to that of its benchmark.

U.S. stocks performed much better than in 2011, when they returned just 1.03%, as measured by the Russell 3000 Index. Most of the gain of stocks in 2012 came in the first quarter. For much of the rest of the year, equity markets were overshadowed by concerns about slowing global growth, sovereign debt problems in Europe and political uncertainty in the United States.

For the period, companies of different capitalization sizes performed within a narrow range. Mid-cap stocks led with a 17.28% gain, while large-and small-cap issues returned 16.42% and 16.35%, respectively. Value stocks outperformed their growth counterparts, 17.55% to 15.21%. (Returns by investment style and market capitalization are based on the Russell indexes.)

Financials push the benchmark higher

For the year, all ten industry sectors of the Russell 3000 Index generated positive returns, and eight achieved double-digit gains. Financial stocks were the driving force; they soared 26.2% and were the benchmark’s second-largest sector in terms of market capitalization on December 31, 2012. Many investors were drawn to financials because of their generally attractive valuations and improving business fundamentals. The benchmark’s largest sector, information technology (up 14.0%), and consumer discretionary (up 24.8%) also gave the index a lift. Together, these three sectors made up almost half of the benchmark at period-end.

The two weakest sectors were energy and utilities, which returned 3.9% and 2.1%, respectively. Traditionally viewed as a defensive sector, utilities were hindered by investor preference for riskier securities, particularly during the fourth quarter of the year. Energy stocks were constrained by falling oil prices.

Two of the benchmark’s five largest stocks, in terms of market capitalization at period-end, scored exceptional gains for the year. Apple advanced 32.6%, and General Electric climbed 21.3%. The others, however—IBM, Chevron and Exxon Mobil—lagged far behind the broad market, returning 5.9%, 5.1% and 4.7%, respectively.

4     2012 Annual Report  ¡  TIAA Separate Account VA-1

Stock Index Account

Performance as of December 31, 2012
		Total return			Average annual total return
	Inception date		1 year			5 years		10 years
Stock Index Account	11/1/1994		15.60	%		1.42	%	7.01	%
Russell 3000 Index	—		16.42			2.04		7.68

The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. The account’s performance reflects a fee waiver, which is currently in place. Without such waiver, the expenses of the account would have been higher and its performance lower. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your accumulation units. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

For the purpose of comparison, the graph also shows the change in the value of the account’s benchmark during the same period.

TIAA Separate Account VA-1  ¡  2012 Annual Report     5

Stock Index Account

Portfolio composition

Sector	% of net assets as of 12/31/2012
Information technology		18.0
Financials		17.1
Consumer discretionary		12.4
Health care		11.7
Industrials		11.1
Energy		9.8
Consumer staples		9.2
Materials		4.0
Utilities		3.4
Telecommunication services		2.7
Short-term investments, other assets & liabilities, net		0.6
Total		100.0

Holdings by company size

Market capitalization	% of equity investments as of 12/31/2012
More than $50 billion		42.5
More than $15 billion–$50 billion		25.5
More than $2 billion–$15 billion		25.2
$2 billion or less		6.8
Total		100.0

6     2012 Annual Report  ¡  TIAA Separate Account VA-1

Summary portfolio of investments

Stock Index Account  §  December 31, 2012

Shares		Company	Value (000)		% of net assets
COMMON STOCKS
AUTOMOBILES & COMPONENTS			$	7,462		1.0	%
BANKS
89,345		US Bancorp		2,854		0.4
231,808		Wells Fargo & Co		7,923		1.0
		Other		14,046		1.9
				24,823		3.3
CAPITAL GOODS
32,887		3M Co		3,054		0.4
35,310		Boeing Co		2,661		0.3
30,763		Caterpillar, Inc		2,756		0.4
501,549		General Electric Co		10,527		1.4
43,014		United Technologies Corp		3,528		0.5
		Other		39,175		5.2
				61,701		8.2
COMMERCIAL & PROFESSIONAL SERVICES				8,236		1.1
CONSUMER DURABLES & APPAREL				11,223		1.5
CONSUMER SERVICES
48,229		McDonald’s Corp		4,254		0.6
		Other		12,084		1.6
				16,338		2.2
DIVERSIFIED FINANCIALS
47,209		American Express Co		2,714		0.4
511,480		Bank of America Corp		5,933		0.8
138,877		Citigroup, Inc		5,494		0.7
23,301		Goldman Sachs Group, Inc		2,972		0.4
180,094		JPMorgan Chase & Co		7,919		1.0
		Other		22,250		3.0
				47,282		6.3
ENERGY
93,614		Chevron Corp		10,123		1.3
59,944		ConocoPhillips		3,476		0.5
221,875	d	Exxon Mobil Corp		19,203		2.5
38,265		Occidental Petroleum Corp		2,932		0.4
63,292		Schlumberger Ltd		4,386		0.6
		Other		33,908		4.5
				74,028		9.8
FOOD & STAPLES RETAILING
60,696		CVS Corp		2,935		0.4
79,920		Wal-Mart Stores, Inc		5,453		0.7
		Other		6,674		0.9
				15,062		2.0

See notes to financial statements TIAA Separate Account VA-1   §   2012 Annual Report 7

Summary portfolio of investments continued

Stock Index Account  §  December 31, 2012

Shares		Company	Value (000)		% of net assets
FOOD, BEVERAGE & TOBACCO
96,462		Altria Group, Inc	$	3,031		0.4	%
183,762		Coca-Cola Co		6,661		0.9
73,931		PepsiCo, Inc		5,059		0.7
80,945		Philip Morris International, Inc		6,770		0.9
		Other		17,231		2.3
				38,752		5.2
HEALTH CARE EQUIPMENT & SERVICES
74,364		Abbott Laboratories		4,871		0.6
49,128		UnitedHealth Group, Inc		2,664		0.3
		Other		28,194		3.8
				35,729		4.7
HOUSEHOLD & PERSONAL PRODUCTS
130,018		Procter & Gamble Co		8,827		1.2
		Other		6,488		0.8
				15,315		2.0
INSURANCE
84,256	*	Berkshire Hathaway, Inc (Class B)		7,558		1.0
		Other		20,973		2.8
				28,531		3.8
MATERIALS				30,269		4.0
MEDIA
127,447		Comcast Corp (Class A)		4,764		0.6
84,815		Walt Disney Co		4,223		0.6
		Other		18,070		2.4
				27,057		3.6
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
36,706		Amgen, Inc		3,169		0.4
129,991		Johnson & Johnson		9,112		1.2
143,853		Merck & Co, Inc		5,889		0.8
354,372		Pfizer, Inc		8,888		1.2
		Other		24,969		3.3
				52,027		6.9
REAL ESTATE				27,671		3.7
RETAILING
17,145	*	Amazon.com, Inc		4,306		0.6
72,630		Home Depot, Inc		4,492		0.6
		Other		22,698		3.0
				31,496		4.2

8 2012 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Summary portfolio of investments continued

Stock Index Account  §  December 31, 2012

Shares		Company		Value (000)			% of net assets
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT
238,579		Intel Corp		$	4,922			0.6	%
		Other			11,172			1.5
					16,094			2.1
SOFTWARE & SERVICES
54,608	*	eBay, Inc			2,786			0.4
12,290	*	Google, Inc (Class A)			8,718			1.1
51,598		International Business Machines Corp			9,884			1.3
357,282		Microsoft Corp			9,550			1.3
181,436		Oracle Corp			6,045			0.8
24,776		Visa, Inc (Class A)			3,756			0.5
		Other			29,144			3.9
					69,883			9.3
TECHNOLOGY HARDWARE & EQUIPMENT
44,270		Apple, Inc			23,597			3.1
254,235		Cisco Systems, Inc			4,996			0.7
81,033		Qualcomm, Inc			5,026			0.7
		Other			15,943			2.1
					49,562			6.6
TELECOMMUNICATION SERVICES
277,511		AT&T, Inc			9,355			1.2
134,344		Verizon Communications, Inc			5,813			0.8
		Other			4,906			0.7
					20,074			2.7
TRANSPORTATION
22,553		Union Pacific Corp			2,835			0.4
		Other			10,868			1.4
					13,703			1.8
UTILITIES					25,688			3.4
		TOTAL COMMON STOCKS	(Cost $500,799)		748,006			99.4
RIGHTS/WARRANTS
ENERGY					0	^		0.0
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					0	^		0.0
		TOTAL RIGHTS/WARRANTS	(Cost $0)		0	^		0.0

See notes to financial statements TIAA Separate Account VA-1   §   2012 Annual Report 9

Summary portfolio of investments concluded

Stock Index Account  §  December 31, 2012

Shares		Company		Value (000)			% of net assets
SHORT-TERM INVESTMENTS
TREASURY DEBT				$	2,000			0.3	%
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
16,065,738	c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust			16,066			2.1
					16,066			2.1
		TOTAL SHORT-TERM INVESTMENTS	(Cost $18,066)		18,066			2.4
		TOTAL PORTFOLIO	(Cost $518,865)		766,072			101.8
		OTHER ASSETS & LIABILITIES			(13,633	)		(1.8	)
		NET ASSETS		$	752,439			100.0	%

* Non-income producing.

^ Amount represents less than $1,000.

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 or other requirements on open futures transactions.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

The aggregate value of securities on loan is $15,936,000.

Cost amounts are in thousands.

For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Account uses more specific categories in following its investment limitations on investment concentrations.

10 2012 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Statement of assets and liabilities

TIAA Separate Account VA-1  §  December 31, 2012

(amounts in thousands, except accumulation unit value)	Stock Index Account
ASSETS
Portfolio investments, at value* ^	$	766,072
Cash		2,642
Dividends receivable		859
Receivable for variation margin on open future contracts		87
Other		87
Total assets		769,747
LIABILITIES
Due to affiliates		1,188
Payable for securities transactions		14
Payable for collateral for securities loaned		16,066
Other		40
Total liabilities		17,308
NET ASSETS
Accumulation Fund	$	752,439
Accumulation units outstanding		7,332
Accumulation unit value		$102.62
*    Portfolio investments, at cost	$	518,865
^    Includes securities loaned of	$	15,936

See notes to financial statements TIAA Separate Account VA-1   §   2012 Annual Report 11

Statement of operations

TIAA Separate Account VA-1  §  For the year ended December 31, 2012

(amounts in thousands)	Stock Index Account
INVESTMENT INCOME
Dividends*	$	16,774
Income from securities lending		337
Total income		17,111
EXPENSES
Administrative		1,487
Investment Advisory		2,230
Mortality and expense risk charges		2,973
Total expenses		6,690
Less: Expense waiver by investment advisor		(1,115	)
Net expenses		5,575
Net investment income (loss)		11,536
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS
Realized gain (loss):
Portfolio investments		17,327
Futures transactions		19
Net realized gain (loss) on total investments		17,346
Change in unrealized appreciation (depreciation) on:
Portfolio investments		77,650
Futures transactions		(3	)
Net change in unrealized appreciation (depreciation) on total investments		77,647
Net realized and unrealized gain (loss) on total investments		94,993
Net increase (decrease) in net assets from operations	$	106,529
*    Net of foreign withholding taxes of	$	16

12 2012 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Statement of changes in net assets

TIAA Separate Account VA-1  §  For the year ended

	Stock Index Account
(amounts in thousands)	December 31, 2012			December 31, 2011
OPERATIONS
Net investment income (loss)	$	11,536		$	8,866
Net realized gain (loss) on total investments		17,346			14,897
Net change in unrealized appreciation (depreciation) on total investments		77,647			(20,555	)
Net increase (decrease) in net assets from operations		106,529			3,208
FROM CONTRACTOWNER TRANSACTIONS
Premiums		23,611			27,309
Withdrawals and death benefits		(76,783	)		(76,724	)
Net increase (decrease) in net assets resulting from contractowner transactions		(53,172	)		(49,415	)
Net increase (decrease) in net assets		53,357			(46,207	)
NET ASSETS
Beginning of period		699,082			745,289
End of period	$	752,439		$	699,082
ACCUMULATION UNITS
Units purchased		240			302
Units sold/transferred		(783	)		(854	)
OUTSTANDING
Beginning of period		7,875			8,427
End of period		7,332			7,875

See notes to financial statements TIAA Separate Account VA-1   §   2012 Annual Report 13

Financial highlights

TIAA Separate Account VA-1  §  For the year ended

	Stock Index Account
	12/31/12		12/31/11			12/31/10		12/31/09		12/31/08
FOR AN ACCUMULATION UNIT OUTSTANDING THROUGHOUT EACH PERIOD
Investment income (a)	$	2.256	$	1.754		$	1.542	$	1.413	$	1.758
Expenses (a)		0.735		0.671			0.591		0.452		0.484
Net investment income (a)		1.521		1.083			0.951		0.961		1.274
Net realized and unrealized gain (loss) on total investments		12.334		(0.755	)		11.319		15.456		(37.166	)
Net change in accumulation unit value		13.855		0.328			12.270		16.417		(35.892	)
Accumulation Unit Value:
Beginning of period		88.769		88.441			76.171		59.754		95.646
End of period	$	102.624	$	88.769		$	88.441	$	76.171	$	59.754
TOTAL RETURN (b)		15.60%		0.37%			16.11%		27.48%		(37.53)%
RATIOS TO AVERAGE NET ASSETS
Ratio of expense to average net assets before expense waiver		0.90%		0.90%			0.90%		0.90%		0.90%
Ratio of expense to average net assets after expense waiver		0.75%		0.75%			0.75%		0.71%		0.67%
Ratio of net investment income to average net assets		1.55%		1.21%			1.21%		1.50%		1.58%
SUPPLEMENTAL DATA
Portfolio turnover rate		7%		6%			10%		6%		7%
Accumulation units outstanding at the end of period (c)		7,332		7,875			8,427		8,921		9,488
Net assets at the end of period (c)	$	752,439	$	699,082		$	745,289	$	679,559	$	566,938

(a) Based upon average accumulation units outstanding.

(b) Based on per accumulation data.

(c) Thousands.

14 2012 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Notes to financial statements

TIAA Separate Account VA-1

Note 1—organization and significant accounting policies

TIAA Separate Account VA-1 (“VA-1”) is a segregated investment account of Teachers Insurance and Annuity Association of America (“TIAA”) and is organized under the insurance laws of the State of New York for the purpose of issuing and funding individual variable annuity contracts. The variable annuity contracts were issued by TIAA. VA-1 is registered with the Securities and Exchange Commission as an open-end management investment company under the Investment Company Act of 1940, as amended (“1940 Act”). VA-1 consists of a single investment portfolio, the Stock Index Account (“Account”).

The accompanying financial statements 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 and the evaluation of subsequent events. Actual results may differ from those estimates. The Accumulation Unit Value (“AUV”) for financial reporting purposes may differ from the AUV for processing transactions. The AUV for financial reporting purposes includes security and contractowner transactions through the date of the report. Total return is computed based on the AUV used for processing transactions. The following is a summary of the significant accounting policies consistently followed by the Account.

Security valuation: The Account’s investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the financial statements.

Investments and investment income: Securities transactions are accounted for as of the trade date for financial reporting purposes. Interest income is recorded as earned and includes accretion of discounts and amortization of premiums using the effective yield method. Dividend income is recorded on the ex-dividend date. Realized gains and losses on securities transactions are based upon the specific identification method. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Account estimates the components of distributions received that may be considered return of capital distributions or capital gain distributions.

Income taxes: VA-1 is a separate account of TIAA, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code. VA-1 should incur no federal income tax liability. Under the rules of taxation applicable to life insurance companies, VA-1’s Accumulation Account for contractowners will generally be treated as life insurance reserves; therefore, any increase in such reserves will be deductible. Management has analyzed the Account’s tax positions taken for all open federal income tax years (2007–2012) and has concluded that no provision for federal income tax is required in the Account’s financial statements.

Management Committee compensation: The members of the Management Committee (“Committee”), all of whom are independent, receive certain remuneration for their services, plus travel and other expenses. Managers may elect to participate in a deferred compensation plan and defer all or a portion of their

TIAA Separate Account VA-1   §   2012 Annual Report 15

Notes to financial statements

compensation. In addition, managers participate in a long-term compensation plan. Amounts deferred are retained by the Account until paid. The investment of deferred amounts and the offsetting payable to the managers are included in other assets and other liabilities in the accompanying Statement of Assets and Liabilities.

New accounting pronouncement: In December 2011, the Financial Accounting Standards Board issued Accounting Standard Update (“ASU”) No. 2011-11, Disclosures about Offsetting Assets and Liabilities, and in January 2013, issued ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities (collectively, the “Update”). The Update creates new disclosure requirements requiring entities to disclose both gross and net information for derivatives and other financial instruments that are either offset in the Statement of Assets and Liabilities or subject to an enforceable master netting arrangement or similar agreement. The disclosure requirements are effective for interim and annual reporting periods beginning on or after January 1, 2013. The Account expects to adopt these new disclosure requirements for the June 30, 2013 semiannual report. Management is currently evaluating the impact of the Update’s adoption on the Account’s financial statements and notes disclosures.

Note 2—valuation of investments

Portfolio investments are valued at fair value utilizing various valuation methods approved by the Committee. 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 Account’s own assumptions in determining the fair value of investments)

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized 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 Account’s major categories of assets and liabilities measured at fair value follows:

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

16 2012 Annual Report   §   TIAA Separate Account VA-1

continued

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 Account’s net assets are calculated, such securities will be valued at fair value in accordance with procedures adopted by the Committee. Foreign securities are generally categorized in Level 2 of the fair value hierarchy.

Debt securities: Debt securities 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, other than 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.

Short-term investments: Short-term investments, excluding investments in registered investment companies, with maturities of 60 days or less are valued at amortized cost. Short-term investments with maturities in excess of 60 days are valued in the same manner as debt securities. Short-term 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 and options, which are traded on commodities exchanges, are valued at the last sale price as of the close of such commodities exchanges and are categorized in Level 1 of 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 Committee. 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 December 31, 2012, there were no transfers between levels by the Account.

TIAA Separate Account VA-1   §   2012 Annual Report 17

Notes to financial statements

The following table summarizes the market value of the Account’s investments as of December 31, 2012, based on the inputs used to value them (amounts are in thousands):

	Level 1			Level 2		Level 3		Total
Consumer discretionary	$	93,444		$	—	$	—	$	93,444
Consumer staples		69,130			—		—		69,130
Energy		74,028			—		—		74,028
Financials		128,307			—		—		128,307
Health care		87,756			—		—		87,756
Industrials		83,640			—		—		83,640
Information technology		135,670			—		—		135,670
Materials		30,269			—		—		30,269
Telecommunication services		20,074			—		—		20,074
Utilities		25,688			—		—		25,688
Short-term investments		16,066			2,000		—		18,066
Futures**		(3	)		—		—		(3	)
Total	$	764,069		$	2,000	$	—	$	766,069

** Derivative instruments are not reflected in the Summary portfolio 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 variable. Derivatives require little or no initial investment and permit or require net settlement. The Account values derivatives at fair value.

At December 31, 2012, the Account has invested in derivative contracts which are reflected in the Statement of Assets and Liabilities as follows (amounts in thousands):

	Liabilities derivatives
Derivative contract	Location		Fair value amount
Equity contracts		Futures*		$3

* The fair value presented includes cumulative gain (loss) on open futures contracts; however, the value reflected on the accompanying Statement of Assets and Liabilities is only the receivable for variation margin on open futures contracts.

For the period ended December 31, 2012, the effect of derivative contracts on the Account’s Statement of Operations was as follows (amounts in thousands):

Derivative contracts	Location		Realized gain (loss)		Change in unrealized appreciation (depreciation)
Equity contracts		Futures transactions	$	19	$	(3	)

Futures contracts: The Account is subject to equity price risk in the normal course of pursuing its investment objectives. The Account uses futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly

18 2012 Annual Report   §   TIAA Separate Account VA-1

continued

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 payments are made or received reflecting daily 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 Account since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures against default. During the period ended December 31, 2012, the Account had exposure to equity futures contracts, based on underlying notional values, generally between 0% and 1% of net assets.

At December 31, 2012, the Account held the following open futures contracts (amounts in thousands)

Future	Number of contracts‡		Settlement value		Expiration date		Unrealized gain (loss)
CME E-mini S&P 500 Index		48	$	3,408		March 2013	$	(3	)

^‡  Number of contracts are not in thousands.

Note 4—investment adviser and affiliates

Teachers Advisors, Inc. (“Advisors”), a wholly owned subsidiary of TIAA and a registered investment adviser, provides investment advisory services for VA-1 pursuant to an Investment Management Agreement among TIAA, Advisors and VA-1. TIAA provides all administrative services for VA-1 pursuant to an Administrative Services Agreement with VA-1. The contracts are distributed primarily by Teachers Personal Investors Services, Inc. (“TPIS”) and, in some instances, by TIAA-CREF Individual & Institutional Services, LLC (“Services”). TPIS and Services are wholly owned subsidiaries of TIAA. The Investment Management Agreement sets the investment advisory charge at an annual rate of 0.30% of the average daily net assets of the Account. Advisors has agreed to waive a portion of such fee, so that the daily deduction is equivalent to an annual charge of 0.15% of the average daily net assets of the Account.

The Administrative Services Agreement sets the administrative expense charge at an annual rate of 0.20% of the average daily net assets of the Account. TIAA also imposes a daily charge for bearing certain mortality and expense risks in connection with the contracts, equivalent to an annual rate of 0.40% of the average daily net assets of the Account. Although TIAA reserves the right to increase the Account’s mortality and expense risk charge to a maximum of 1.00% per year, the total expense ratio will never exceed 1.50% per year. TIAA pays death benefits to beneficiaries when an annuitant dies during the accumulation period.

TIAA Separate Account VA-1   §   2012 Annual Report 19

Notes to financial statements

The Account may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Committee, pursuant to the 1940 Act. These transactions are effected at market rates without incurring broker commissions.

Note 5—investments

Securities lending: The Account may lend its securities to qualified institutional borrowers to earn additional income. The 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. 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 for the purpose of investing cash collateral. The value of the loaned securities and the liability to return the cash collateral received are reflected in the Statement of Assets and Liabilities. Securities lending income consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and compensation to the lending agent. Such income is reflected separately in the Statement of Operations. In lending its securities, the Account bears the market risk with respect to the collateral investment as well as the securities loaned and also bears the risk that the counterparty may default on its obligations to the Account.

Restricted securities: Restricted securities held by the Account, 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.

Net unrealized appreciation (depreciation): At December 31, 2012, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments was $247,207,000, consisting of gross unrealized appreciation of $319,017,000 and gross unrealized depreciation of $(71,810,000).

Purchases and sales: Purchases and sales of portfolio securities (other than short-term instruments) for the year ended December 31, 2012 were $49,701,000 and $94,538,000, respectively.

Note 6—line of credit

The Account participates in a $1.5 billion unsecured revolving credit facility that can be used for temporary purposes, including, without limitation, the funding of contractowner withdrawals. Certain affiliated accounts and mutual funds, each of which is managed by Advisors, or an affiliate of Advisors, also participate in this facility. An annual commitment fee for the credit facility is borne by the participating accounts and mutual funds on a pro rata basis. Interest associated with any borrowing under the facility is charged to the borrowing account at a specified rate of interest. The Account is not liable for borrowings under the facility by other affiliated accounts or mutual funds. For the year ended December 31, 2012, there were no borrowings under this credit facility by the Account.

20 2012 Annual Report   §   TIAA Separate Account VA-1

concluded

Note 7—indemnification

In the normal course of business, the Account enters into contracts that contain a variety of representations and warranties and that provide general indemnities. The Account’s maximum exposure under these arrangements is unknown, as this would involve future claims against the Account that have not yet occurred. Also, under the Account’s organizational documents, the managers and officers of the Account are indemnified against certain liabilities that may arise out of their duties to the Account. However, based on experience, the Account expects the risk of loss due to these warranties and indemnities to be unlikely.

TIAA Separate Account VA-1   §   2012 Annual Report 21

Report of independent registered
public accounting firm

To the Management Committee and Contract owners of the TIAA Separate Account VA-1:

In our opinion, the accompanying statements of assets and liabilities, including the summary portfolio of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of the Stock Index Account of TIAA Separate Account VA-1 (hereafter referred to as “VA-1”) at December 31, 2012, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of VA-1’s management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at December 31, 2012 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

Boston, Massachusetts

February 19, 2013

22 2012 Annual Report   §   TIAA Separate Account VA-1

Management committee members and officers (unaudited)

TIAA Separate Account VA-1  §  December 31, 2012

Members

Name, address and date of birth (“DOB”)	Position(s) held with account	Term of office and length of time served	Principal occupation(s) during past 5 years	Number of portfolios in fund complex overseen by trustee	Other directorship(s) held by trustee
Forrest Berkley c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 DOB: 4/25/54	Member	Indefinite term. Member since 2006.	Retired Partner (since 2006), Former Partner (1990–2005) and Head of Global Product Management (2003–2005), GMO (formerly, Grantham, Mayo, Van Otterloo & Co.) (investment management); and member of asset allocation portfolio management team, GMO (2003–2005).	77	Director of GMO; Director, the Maine Coast Heritage Trust; Investment Committee member, Maine Community Foundation and the Elmina B. Sewall Foundation.
Nancy A. Eckl c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 DOB: 10/6/62	Member	Indefinite term. Member since 2007.	Former Vice President (1990–2006), American Beacon Advisors, Inc., and Vice President of certain funds advised by American Beacon Advisors, Inc.	77	Independent Director, The Lazard Funds, Inc., Lazard Retirement Series, Inc., Lazard Global Total Return and Income Fund, Inc. and Lazard World Dividend & Income Fund, Inc.; Independent Member of the Boards of Lazard Alternative Strategies Fund, LLC and Lazard Alternative Strategies 1099 Fund.
Michael A. Forrester c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 DOB: 11/05/67	Member	Indefinite term. Member since 2007.	Chief Operating Officer, Copper Rock Capital Partners, LLC (since 2007); Chief Operating Officer, DDJ Capital Management (2003–2006).	77	Director of Copper Rock Capital Partners, LLC (investment adviser).

TIAA Separate Account VA-1   §   2012 Annual Report 23

Management committee members and officers (unaudited) continued

TIAA Separate Account VA-1  §  December 31, 2012

Members—continued

Name, address and date of birth (“DOB”)	Position(s) held with account	Term of office and length of time served	Principal occupation(s) during past 5 years	Number of portfolios in fund complex overseen by trustee	Other directorship(s) held by trustee
Howell E. Jackson c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 DOB: 1/4/54	Chairman of the Management Committee and Member	Indefinite term. Member since 2005; Chairman for term ending December 31, 2015. Chairman since 2013.	James S. Reid, Jr. Professor of Law (since 2004), Senior Advisor to the President and Provost (2010–2012), Acting Dean (2009), Vice Dean for Budget (2003–2006) and on the faculty (since 1989) of Harvard Law School.	77	Director, D2D Fund.
Nancy L. Jacob c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 DOB: 1/15/43	Member	Indefinite term. Member since 2001.	Former President and Founder (2006–2012) of NLJ Advisors, Inc. (investment adviser); President and Managing Principal, Windermere Investment Associates (1997–2006).	77	None
Thomas J. Kenny c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 DOB: 3/27/63	Member	Indefinite term. Member since 2011.	Partner (2004–2010) and Managing Director (1999–2010), Goldman Sachs Asset Management.	77	Director, Sansum Clinic; Investment committee member, College of Mount Saint Vincent, Cottage Health System; Member, United States Olympics Paralympics Advisory Committee, University of California at Santa Barbara Arts and Lectures Advisory Council; Trustee and Treasurer, Crane County Day School.

24 2012 Annual Report   §   TIAA Separate Account VA-1

Bridget A. Macaskill c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 DOB: 8/5/48	Member	Indefinite term. Member since 2003.	Chief Executive Officer (since 2010), President (since 2009) and Chief Operating Officer (2009–2010), First Eagle Investment Management; Principal, BAM Consulting LLC (2003–2009); Independent Consultant for Merrill Lynch (2003–2009).	77	Director, Arnhold and S. Bleichroeder Holdings; First Eagle Investment Management; American Legacy Foundation (Investment Committee); University of Edinburgh (Campaign Board); and North Shore Land Alliance.
James M. Poterba c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 DOB: 7/13/58	Member	Indefinite term. Member since 2006.	President and Chief Executive Officer, National Bureau of Economic Research (“NBER”) (since 2008); Mitsui Professor of Economics, Massachusetts Institute of Technology (“MIT”) (since 1996), Former Head (2006–2008) and Associate Head (1994–2000 and 2001–2006), Economics Department of MIT; and Former Program Director, NBER (1990–2008).	77	Director, The Alfred P. Sloan Foundation and National Bureau of Economic Research; Member, Congressional Budget Office Panel of Economic Advisers.

TIAA Separate Account VA-1   §   2012 Annual Report 25

Management committee members and officers (unaudited) continued

TIAA Separate Account VA-1  §  December 31, 2012

Members—concluded

Name, address and date of birth (“DOB”)	Position(s) held with account	Term of office and length of time served	Principal occupation(s) during past 5 years	Number of portfolios in fund complex overseen by trustee	Other directorship(s) held by trustee
Maceo K. Sloan c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 DOB: 10/18/49	Member	Indefinite term. Member since 2001.	Chairman, President and Chief Executive Officer, Sloan Financial Group, Inc. (since 1991); Chairman, Chief Executive Officer and Chief Investment Officer, NCM Capital Management Group, Inc. (since 1991); Chairman and Chief Executive Officer and Chief Investment Officer, NCM Capital Advisers Inc. (since 2003); and Former Chairman, President and Principal Executive Officer, NCM Capital Investment Trust (2007–2012).	77	Director, SCANA Corporation (energy holding company); Member, Duke Children’s Hospital and Health Center National Board of Advisors.
Laura T. Starks c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 DOB: 2/17/50	Member	Indefinite term. Member since 2006.	Associate Dean for Research (since 2011), McCombs School of Business, University of Texas at Austin (“McCombs”), and Director, AIM Investment Center at McCombs (since 2000). Charles E. and Sarah M. Seay Regents Chair in Finance (since 2002); Professor, University of Texas at Austin (since 1987). Former Chairman, Department of Finance, University of Texas at Austin (2002–2011).	77	Member of the Board of Governors of the Investment Company Institute, the Governing Council of Independent Directors Council (an association for mutual fund directors), and Investment Advisory Committee, Employees Retirement System of Texas.

26 2012 Annual Report   §   TIAA Separate Account VA-1

Officers

Name, address and date of birth (“DOB”)	Position(s) held with account	Term of office and length of time served	Principal occupation(s) during past 5 years
Brandon Becker TIAA-CREF 730 Third Avenue New York, NY 10017-3206 DOB: 3/19/54	Executive Vice President and Chief Legal Officer	One-year term. Executive Vice President and Chief Legal Officer since 2009.	Executive Vice President and Chief Legal Officer of Teachers Insurance and Annuity Association of America (“TIAA”), and College Retirement Equities Fund (“CREF”), TIAA Separate Account VA-1, TIAA-CREF Funds, and TIAA-CREF Life Funds (collectively, the “TIAA-CREF Fund Complex”) (since 2009). Former Partner, Wilmer Cutler Pickering Hale & Dorr LLP (1996–2009).
Richard S. Biegen TIAA-CREF 730 Third Avenue New York, NY 10017-3206 DOB: 5/8/62	Vice President and Chief Compliance Officer	One-year term. Vice President and Chief Compliance Officer since 2008.	Chief Compliance Officer of the TIAA-CREF Fund Complex and TIAA Separate Account VA-3 (since 2008). Vice President, Senior Compliance Officer (2008–2011) and Managing Director, Senior Compliance Officer (since 2011) of Asset Management Compliance of TIAA. Chief Compliance Officer of TIAA-CREF Investment Management, LLC (“Investment Management”) (since 2008). Former Chief Compliance Officer (2008), Vice President, Senior Compliance Officer (2008–2011) and Managing Director, Senior Compliance Officer (since 2011) of Teachers Advisors, Inc. (“Advisors”). Managing Director and Senior Compliance Officer of TIAA-CREF Alternatives Advisors, LLC (“TCAA”) (since 2011). Managing Director and Senior Compliance Officer of TIAA-CREF Alternatives Services, LLC (“TCAS”) (since 2011). Former Managing Director/Director of Global Compliance, AIG Investments (2000–2008).
Roger W. Ferguson, Jr. TIAA-CREF 730 Third Avenue New York, NY 10017-3206 DOB: 10/28/51	President and Chief Executive Officer	One-year term. President and Chief Executive Officer since 2008.	Principal Executive Officer and President of the TIAA-CREF Funds and TIAA-CREF Life Funds since 2012. President and Chief Executive Officer of TIAA, CREF and TIAA Separate Account VA-1 (since 2008). Director of Covariance Capital Management, Inc. (“Covariance”) (since 2010). Former Chairman, Head of Financial Services and Member of the Executive Committee, Swiss Re America Holding Corporation (2006–2008); Vice Chairman and Member of the Board of Governors of the United States Federal Reserve System (1997–2006).

TIAA Separate Account VA-1   §   2012 Annual Report 27

Management committee members and officers (unaudited) continued

TIAA Separate Account VA-1  §  December 31, 2012

Officers—continued

Name, address and date of birth (“DOB”)	Position(s) held with account	Term of office and length of time served	Principal occupation(s) during past 5 years
Phillip G. Goff TIAA-CREF 730 Third Avenue New York, NY 10017-3206 DOB: 11/22/63	Principal Financial Officer, Principal Accounting Officer and Treasurer since 2009	One-year term. Chief Financial Officer, Principal Accounting Officer and Treasurer since 2009.	Treasurer of CREF (since 2008); Principal Financial Officer, Principal Accounting Officer and Treasurer of the TIAA-CREF Funds and TIAA-CREF Life Funds (since 2007) and Chief Financial Officer and Principal Accounting Officer (since 2009) and Treasurer (since 2008) of TIAA Separate Account VA-1. Senior Vice President (since 2010) and Funds Treasurer (since 2006) of TIAA. Director of Advisors (since 2008). Director of TIAA-CREF Asset Management (“TCAM”) (since 2011). Senior Vice President (since 2010) and Funds Treasurer (since 2007) of Advisors and Investment Management. Assistant Treasurer of T-C Life (since 2012). Director of TIAA-CREF Trust Company, FSB (“Trust”) (since 2008). Director, Senior Vice President and Funds Treasurer of TCAA (since 2011). Director, Senior Vice President and Funds Treasurer of TCAS (since 2011). Former Chief Financial Officer, Van Kampen Funds (2005–2006).
Stephen Gruppo TIAA-CREF 730 Third Avenue New York, NY 10017-3206 DOB: 9/25/59	Executive Vice President	One-year term. Executive Vice President since 2009.	Executive Vice President, Head of Risk Management of TIAA and Executive Vice President of the TIAA-CREF Fund Complex (since 2009). Executive Vice President, Risk Management (since 2009). Senior Managing Director of Advisors and Investment Management (2006–2009) and Head of Credit Risk Management of Advisors and Investment Management (2005–2006). Former Senior Managing Director, Acting Head of Risk Management of TIAA and Senior Managing Director of the TIAA-CREF Fund Complex (2008–2009). Executive Vice President, Risk Management of TCAA (since 2011). Executive Vice President, Risk Management of TCAS (since 2011). Former Senior Managing Director, Chief Credit Risk Officer (2004–2008) of TIAA. Former Director of T-C Life (2006–2008). Former Director of TPIS, Advisors and Investment Management (2008).
Ronald R. Pressman TIAA-CREF 730 Third Avenue New York, NY 10017-3206 DOB: 4/11/58	Executive Vice President	One-year term. Executive Vice President since 2012.	Executive Vice President and Chief Operating Officer (since 2012) of TIAA, and Executive Vice President of the TIAA-CREF Fund Complex (since 2012). Former President and Chief Executive Officer of General Electric Capital Real Estate (2007–2011).

28 2012 Annual Report   §   TIAA Separate Account VA-1

Phillip T. Rollock TIAA-CREF 730 Third Avenue New York, NY 10017-3206 DOB: 3/31/62	Senior Vice President and Corporate Secretary	One-year term. Senior Vice President and Corporate Secretary since 2012.	Senior Vice President and Corporate Secretary of TIAA and the TIAA-CREF Fund Complex (since 2012). Former Managing Director, Retirement and Individual Financial Services (2010–2012) and Vice President, Product Development and Management, Institutional Client Services (2006–2010) of TIAA.
Otha T. Spriggs, III TIAA-CREF 730 Third Avenue New York, NY 10017-3206 DOB: 2/16/51	Executive Vice President	One-year term. Executive Vice President since 2012.	Executive Vice President and Chief Human Resources Officer (since 2012) of TIAA and Executive Vice President of the TIAA-CREF Fund Complex (since 2012). Former Senior Vice President of Human Resources, Boston Scientific (2010–2012); President of Integrated People Solutions (2009–2010); Senior Vice President, Human Resources and various human resources leadership roles, CIGNA Corp. (2001–2009).
Edward D. Van Dolsen TIAA-CREF 730 Third Avenue New York, NY 10017-3206 DOB: 4/21/58	Executive Vice President	One-year term. Executive Vice President since 2006.	Executive Vice President, President of Retirement and Individual Services (since 2011) of TIAA, and Executive Vice President (since 2008) of the TIAA-CREF Fund Complex. Former Chief Operating Officer (2010–2011), Executive Vice President, Product Development and Management (2009–2010), Executive Vice President, Institutional Client Services (2006–2009), Executive Vice President, Product Management (2005–2006), and Senior Vice President, Pension Products (2003–2005) of TIAA. Director of Covariance (since 2010). Director (since 2007), Chairman and President (since 2012) of TCT Holdings, Inc. Former Director (2007–2011) and Former Executive Vice President (2008–2010) of TCAM. Manager (since 2006), Former President and CEO (2006–2010) of Redwood. Former Director of Tuition Financing (2008–2009) and Former Executive Vice President of T-C Life (2009–2010).

TIAA Separate Account VA-1   §   2012 Annual Report 29

Management committee members and officers (unaudited) concluded

TIAA Separate Account VA-1  §  December 31, 2012

Officers—concluded

Name, address and date of birth (“DOB”)	Position(s) held with account	Term of office and length of time served	Principal occupation(s) during past 5 years
Constance K. Weaver TIAA-CREF 730 Third Avenue New York, NY 10017-3206 DOB: 9/26/52	Executive Vice President	One-year term. Executive Vice President since 2010.	Executive Vice President, Chief Marketing Officer of TIAA and Executive Vice President of the TIAA-CREF Fund Complex (since 2010); Former Chief Communications Officer of TIAA (2010–2011). Former Senior Vice President, The Hartford Financial Services Group, Inc. (2008–2010). Former Executive Vice President and Chief Marketing Officer, BearingPoint (2005–2008).

Please note that the Account’s Statement of Additional Information (SAI) includes additional information about the Account’s members and is available, without charge, through our website, tiaa-cref.org, or by telephone at 800 223-1200.

30 2012 Annual Report   §   TIAA Separate Account VA-1

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How to reach us

TIAA-CREF website

Account performance, personal account information and transactions, product descriptions, and information about investment choices and income options

tiaa-cref.org

24 hours a day, 7 days a week

Automated telephone service

Check account performance and accumulation balances, change allocations, transfer funds and verify credited premiums

800 842-2252

24 hours a day, 7 days a week

National contact center

Retirement saving and planning, income options and payments, beneficiary services and tax reporting

800 842-2252

8 a.m. to 10 p.m. ET, Monday–Friday

9 a.m. to 6 p.m. ET, Saturday

Planning and service center

TIAA-CREF mutual funds

800 223-1200

8 a.m. to 10 p.m. ET, Monday–Friday

Insurance planning center

After-tax annuities and life insurance For an existing policy or contract

800 223-1200

To apply for a new policy or contract

877 825-0411

8 a.m. to 8 p.m. ET, Monday–Friday

For the hearing- or

speech-impaired

800 842-2755

8 a.m. to 10 p.m. ET, Monday–Friday

9 a.m. to 6 p.m. ET, Saturday

TIAA-CREF brokerage services

Self-directed brokerage accounts for investing in stocks, bonds and mutual funds

800 927-3059

8 a.m. to 7 p.m. ET, Monday–Friday

TIAA-CREF Trust Company, FSB

Asset management, trust administration, estate planning, planned giving and endowment management

888 842-9001

9 a.m. to 6 p.m. ET, Monday–Friday

Advisor services

888 842-0318

8 a.m. to 7:30 p.m. ET, Monday–Friday

You should carefully consider the investment objectives, risks, charges and expenses of any account before investing. For a prospectus that contains this and other important information, please visit tiaa-cref.org, or call 800 223-1200. Please read the prospectus carefully before investing. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or     activity,    and     may   lose   value.   TIAA-CREF

Brokerage Services is a division of TIAA-CREF Individual & Institutional Services, LLC. TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY. After-tax annuities and life insurance are issued by TIAA-CREF Life Insurance Company, New York, NY. TIAA-CREF Trust Company, FSB provides trust services.

^©2013 Teachers Insurance and Annuity Association—College Retirement Equities Fund (TIAA-CREF), 730 Third Avenue, New York, NY 10017-3206.

Item 2. Code of Ethics.

2(a) The Management Committee of TIAA Separate Account VA-1 (the “Registrant”) has adopted a code of ethics for senior financial officers, including the Registrant’s principal executive officer, principal financial officer, principal accounting officer, or controller, and persons performing similar functions, in conformity with rules promulgated under the Sarbanes-Oxley Act of 2002.

2(b) No response required.

2(c) During the reporting period, there were no amendments to the code of ethics.

2(d) During the reporting period, there were no implicit or explicit waivers granted by the Registrant from any provision of the code of ethics.

2(e) Not applicable.

2(f) A copy of the current code of ethics is filed as an exhibit to this Form N-CSR.

Item 3. Audit Committee Financial Expert.

3(a)(1) The Registrant’s Management Committee has determined that the Registrant has at least one audit committee financial expert serving on its Audit and Compliance Committee.

3(a)(2) Nancy A. Eckl is the Registrant’s audit committee financial expert and is “independent” for purposes of Item 3 of Form N-CSR.

Item 4. Principal Accountant Fees and Services.

PricewaterhouseCoopers LLP (“PwC”) performs independent audits of the Registrant’s financial statements. To maintain auditor independence and avoid the appearance of conflicts of interest, the Registrant, as a policy, does not engage PwC for management advisory or consulting services.

4(a) Audit Fees.

For the fiscal years ended December 31, 2012 and December 31, 2011, PwC’s aggregate fees for the audit of the Registrant’s annual financial statements were $118,000 and $113,000, respectively.

4(b) Audit Related Fees.

For the fiscal years ended December 31, 2012 and December 31, 2011, PwC’s aggregate fees for services related to the performance of the audit of the Registrant’s annual financial statements were $0 and $0, respectively.

For the fiscal years ended December 31, 2012 and December 31, 2011, the Audit-Related Fees billed by PwC to Teachers Advisors, Inc. (“Advisors”) or to any entity controlling, controlled by or under common control with Advisors that provides ongoing services to the Registrant (collectively, “Fund Service Providers”) were $0 and $0, respectively.

4(c) Tax Fees.

For the fiscal years ended December 31, 2012 and December 31, 2011, PwC’s aggregate fees for tax services billed to the Registrant were $0 and $0, respectively.

For the fiscal years ended December 31, 2012 and December 31, 2011, PwC’s aggregate fees for tax services billed to the Fund Service Providers were $0 and $0, respectively.

4(d) All Other Fees.

For the fiscal years ended December 31, 2012 and December 31, 2011, PwC’s aggregate fees for all other services billed to the Registrant were $500 and $8,400, respectively.

For the fiscal years ended December 31, 2012 and December 31, 2011, PwC’s aggregate fees for all other services billed to the Fund Service Providers were $0 and $0, respectively.

4(e)(1) Preapproval Policy.

The Registrant’s audit and compliance committee (“Audit Committee”) has adopted a Preapproval Policy for External Audit Firm Services (the “Policy”). The Policy describes the types of services that may be provided by the independent auditor to the Registrant and certain of its affiliates without impairing the auditor’s independence. Under the Policy, the Audit Committee is required to preapprove all services to be performed by the Registrant’s independent auditor in order to ensure that such services do not impair the auditor’s independence.

The Policy requires the Audit Committee to: (i) appoint the independent auditor to perform the financial statements audit for the Registrant and certain of its affiliates, including approving the terms of the engagement, and (ii) preapprove the audit, audit-related, tax and other services to be provided by the independent auditor to the Registrant and certain of its affiliates and the fees to be charged for provision of such services from year to year.

4(e)(2) Services provided pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (the “de minimis exception”):

Audit-Related Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended December 31, 2012 and December 31, 2011 on behalf of the Registrant.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended December 31, 2012 and December 31, 2011 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of the Registrant.

Tax Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended December 31, 2012 and December 31, 2011 on behalf of the Registrant.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended December 31, 2012 and December 31, 2011 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of the Registrant.

All Other Fees:

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended December 31, 2012 and December 31, 2011 on behalf of the Registrant.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended December 31, 2012 and December 31, 2011 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of the Registrant.

4(f) The percentage of hours expended by PwC’s engagement to audit the Registrant’s financial statements for the most recent fiscal year attributable to work performed by persons other than PwC’s full-time, permanent employees was less than 50%.

4(g) Non-Audit Fees for Related Entities.

For the fiscal years ended December 31, 2012 and December 31, 2011, aggregate non-audit fees billed to the Registrant and to its Fund Service Providers by PwC were $417,730 and $256,730, respectively.

4(h) The Registrant’s Audit Committee has considered whether the non-audit services that were rendered by PwC to the Registrant’s Fund Service Providers that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X are compatible with maintaining PwC’s independence.

Item 5. Audit Committee of Listed Registrants.

Not Applicable.

Item 6. Schedule of Investments.

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

TIAA SEPARATE ACCOUNT VA-1

STOCK INDEX ACCOUNT

SCHEDULE OF INVESTMENTS

December 31, 2012

SHARES		COMPANY	VALUE (000)
COMMON STOCKS - 99.4%
AUTOMOBILES & COMPONENTS - 1.0%
3,241	*	American Axle & Manufacturing Holdings, Inc	$	36
5,331	*	BorgWarner, Inc		382
2,813		Cooper Tire & Rubber Co		71
7,200		Dana Holding Corp		112
15,940	*	Delphi Automotive plc		610
734		Dorman Products, Inc		26
1,013		Drew Industries, Inc		33
3,666	*	Exide Technologies		13
996	*	Federal Mogul Corp (Class A)		8
178,088		Ford Motor Co		2,306
735	*	Fuel Systems Solutions, Inc		11
36,464	*	General Motors Co		1,051
6,807		Gentex Corp		128
1,306	*	Gentherm, Inc		17
12,196	*	Goodyear Tire & Rubber Co		168
10,683		Harley-Davidson, Inc		522
32,143		Johnson Controls, Inc		987
4,466		Lear Corp		209
2,342	*	Modine Manufacturing Co		19
1,983		Spartan Motors, Inc		10
1,021		Standard Motor Products, Inc		23
1,336	*	Stoneridge, Inc		7
1,205		Superior Industries International, Inc		25
3,166	*	Tenneco, Inc		111
3,177	*e	Tesla Motors, Inc		108
1,719		Thor Industries, Inc		64
312	*	Tower International, Inc		3
4,782	*	TRW Automotive Holdings Corp		256
2,234	*	Visteon Corp		120
1,507	*	Winnebago Industries, Inc		26
		TOTAL AUTOMOBILES & COMPONENTS		7,462
BANKS - 3.3%
810		1st Source Corp		18
1,172		1st United Bancorp, Inc		7
351		Access National Corp		5
243		Alliance Financial Corp		11
374		American National Bankshares, Inc		8
1,244	*	Ameris Bancorp		16
387		Ames National Corp		8
586	e	Arrow Financial Corp		15
7,538		Associated Banc-Corp		99
4,208		Astoria Financial Corp		39
180		Bancfirst Corp		8
1,517		Banco Latinoamericano de Exportaciones S.A. (Class E)		33
4,426		Bancorpsouth, Inc		64
2,688		Bank Mutual Corp		12
1,854		Bank of Hawaii Corp		82
291		Bank of Kentucky Financial Corp		7
288		Bank of Marin Bancorp		11
1,276		Bank of the Ozarks, Inc		43
1,044		BankFinancial Corp		8
1,770		BankUnited		43
824		Banner Corp		25
194		Bar Harbor Bankshares		7
33,099		BB&T Corp		964
3,505		BBCN Bancorp, Inc		41
1,950	*	Beneficial Mutual Bancorp, Inc		19
1,072		Berkshire Hills Bancorp, Inc		26
384	*	BofI Holding, Inc		11

1

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
986		BOK Financial Corp	$	54
3,543		Boston Private Financial Holdings, Inc		32
354		Bridge Bancorp, Inc		7
475	*	Bridge Capital Holdings		7
3,533		Brookline Bancorp, Inc		30
397		Bryn Mawr Bank Corp		9
394	*	BSB Bancorp, Inc		5
159		C&F Financial Corp		6
460		Camden National Corp		16
582		Cape Bancorp, Inc		5
831	*	Capital City Bank Group, Inc		9
11,183		CapitalSource, Inc		85
7,090		Capitol Federal Financial		83
1,503		Cardinal Financial Corp		24
3,968		Cathay General Bancorp		77
645		Center Bancorp, Inc		7
1,148		Centerstate Banks of Florida, Inc		10
764	*	Central Pacific Financial Corp		12
152		Century Bancorp, Inc		5
1,616		Chemical Financial Corp		38
9,754	*	CIT Group, Inc		377
533		Citizens & Northern Corp		10
1,924	*	Citizens Republic Bancorp, Inc		36
923	e	City Holding Co		32
2,242		City National Corp		111
875		Clifton Savings Bancorp, Inc		10
498		CNB Financial Corp		8
1,740		CoBiz, Inc		13
2,091		Columbia Banking System, Inc		38
9,448		Comerica, Inc		287
3,451		Commerce Bancshares, Inc		121
1,740		Community Bank System, Inc		48
1,003		Community Trust Bancorp, Inc		33
2,461		Cullen/Frost Bankers, Inc		134
4,428		CVB Financial Corp		46
1,609		Dime Community Bancshares		22
6,269	*	Doral Financial Corp		5
860	*	Eagle Bancorp, Inc		17
6,966		East West Bancorp, Inc		150
301		Enterprise Bancorp, Inc		5
828		Enterprise Financial Services Corp		11
559		ESB Financial Corp		8
1,035		ESSA Bancorp, Inc		11
1,053		EverBank Financial Corp		16
892	e	Farmers National Banc Corp		6
399		Federal Agricultural Mortgage Corp (Class C)		13
43,303		Fifth Third Bancorp		658
664		Financial Institutions, Inc		12
720		First Bancorp (NC)		9
3,468	*	First Bancorp (Puerto Rico)		16
498		First Bancorp, Inc		8
3,831		First Busey Corp		18
1,046	*	First California Financial Group, Inc		8
147		First Citizens Bancshares, Inc (Class A)		24
4,700		First Commonwealth Financial Corp		32
680		First Community Bancshares, Inc		11
886		First Connecticut Bancorp		12
510		First Defiance Financial Corp		10
3,063		First Financial Bancorp		45
1,220	e	First Financial Bankshares, Inc		48
590		First Financial Corp		18
889		First Financial Holdings, Inc		12
814	*	First Financial Northwest, Inc		6
11,345		First Horizon National Corp		112
654		First Interstate Bancsystem, Inc		10
1,238		First Merchants Corp		18
3,929		First Midwest Bancorp, Inc		49
15,757		First Niagara Financial Group, Inc		125
288		First of Long Island Corp		8
412		First Pactrust Bancorp, Inc		5
4,959		First Republic Bank		163

2

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
5,568		FirstMerit Corp	$	79
1,645		Flushing Financial Corp		25
6,390		FNB Corp		68
449	e	FNB United Corp		5
752		Fox Chase Bancorp, Inc		13
689		Franklin Financial Corp		11
10,086		Fulton Financial Corp		97
602		German American Bancorp, Inc		13
3,468		Glacier Bancorp, Inc		51
500		Great Southern Bancorp, Inc		13
3,552	*	Guaranty Bancorp		7
3,706		Hancock Holding Co		118
1,525	*	Hanmi Financial Corp		21
928	e	Heartland Financial USA, Inc		24
1,007	*	Heritage Commerce Corp		7
534		Heritage Financial Corp		8
394		Heritage Financial Group		5
917	*	Heritage Oaks Bancorp		5
343	*	Home Bancorp, Inc		6
1,128		Home Bancshares, Inc		37
821		Home Federal Bancorp, Inc		10
649		Home Loan Servicing Solutions Ltd		12
444	*	HomeStreet, Inc		11
980	*	HomeTrust Bancshares, Inc		13
259		Horizon Bancorp		5
25,633		Hudson City Bancorp, Inc		208
754		Hudson Valley Holding Corp		12
40,200		Huntington Bancshares, Inc		257
1,370		IBERIABANK Corp		67
1,031	e	Independent Bank Corp		30
2,385		International Bancshares Corp		43
2,538		Investors Bancorp, Inc		45
1,441		Kearny Financial Corp		14
44,469		Keycorp		374
1,129		Lakeland Bancorp, Inc		11
734		Lakeland Financial Corp		19
5,893		M&T Bank Corp		580
731		MainSource Financial Group, Inc		9
2,798		MB Financial, Inc		55
410		Mercantile Bank Corp		7
273		Merchants Bancshares, Inc		7
249	*	Meridian Interstate Bancorp, Inc		4
759	*	MetroCorp Bancshares, Inc		8
9,426	*e	MGIC Investment Corp		25
259		Middleburg Financial Corp		5
265		Midsouth Bancorp, Inc		4
334		MidWestOne Financial Group, Inc		7
357		National Bankshares, Inc		12
6,208		National Penn Bancshares, Inc		58
928	*e	Nationstar Mortgage Holdings, Inc		29
1,807		NBT Bancorp, Inc		37
21,099	e	New York Community Bancorp, Inc		276
1,192	e	Northfield Bancorp, Inc		18
302		Northrim BanCorp, Inc		7
4,572		Northwest Bancshares, Inc		55
741		OceanFirst Financial Corp		10
5,213	*	Ocwen Financial Corp		180
3,801		Old National Bancorp		45
700	*	OmniAmerican Bancorp, Inc		16
2,272		Oriental Financial Group, Inc		30
2,816		Oritani Financial Corp		43
991		Pacific Continental Corp		10
1,486		PacWest Bancorp		37
688	e	Park National Corp		44
1,481	*	Park Sterling Bank		8
420		Peapack Gladstone Financial Corp		6
221		Penns Woods Bancorp, Inc		8
720	*	Pennsylvania Commerce Bancorp, Inc		10
595		Peoples Bancorp, Inc		12
312		Peoples Federal Bancshares, Inc		5
15,940		People’s United Financial, Inc		193

3

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,766	*	Pinnacle Financial Partners, Inc	$	33
24,812		PNC Financial Services Group, Inc		1,447
4,451	*	Popular, Inc		93
564	*	Preferred Bank		8
3,026		PrivateBancorp, Inc		46
2,398		Prosperity Bancshares, Inc		101
446		Provident Financial Holdings, Inc		8
3,163		Provident Financial Services, Inc		47
2,753		Provident New York Bancorp		26
5,521	e	Radian Group, Inc		34
68,601		Regions Financial Corp		488
1,026		Renasant Corp		20
612		Republic Bancorp, Inc (Class A)		13
1,513		Rockville Financial, Inc		20
629		Roma Financial Corp		9
1,211		S&T Bancorp, Inc		22
615		S.Y. Bancorp, Inc		14
1,250		Sandy Spring Bancorp, Inc		24
728		SCBT Financial Corp		29
3,679	*	Seacoast Banking Corp of Florida		6
503		SI Financial Group, Inc		6
370		Sierra Bancorp		4
2,360	*	Signature Bank		168
905		Simmons First National Corp (Class A)		23
463		Simplicity Bancorp, Inc		7
917	e	Southside Bancshares, Inc		19
740	*	Southwest Bancorp, Inc		8
1,614		State Bank & Trust Co		26
1,347		StellarOne Corp		19
1,199		Sterling Bancorp		11
1,362		Sterling Financial Corp		28
513	*	Suffolk Bancorp		7
1,927	*	Sun Bancorp, Inc		7
25,848		SunTrust Banks, Inc		733
9,404		Susquehanna Bancshares, Inc		99
2,032	*	SVB Financial Group		114
38,163	e	Synovus Financial Corp		93
607	*	Taylor Capital Group, Inc		11
8,057		TCF Financial Corp		98
700		Territorial Bancorp, Inc		16
1,877	*	Texas Capital Bancshares, Inc		84
2,528	*	TFS Financial Corp		24
1,165	*	The Bancorp, Inc		13
429		Tompkins Trustco, Inc		17
1,255	e	TowneBank		19
726		Trico Bancshares		12
5,202		Trustco Bank Corp NY		27
3,370		Trustmark Corp		76
1,489		UMB Financial Corp		65
5,809		Umpqua Holdings Corp		68
814		Union Bankshares Corp		13
2,414	e	United Bankshares, Inc		59
2,012	*	United Community Banks, Inc		19
1,056		United Financial Bancorp, Inc		17
792		Univest Corp of Pennsylvania		14
89,345		US Bancorp		2,854
9,564	e	Valley National Bancorp		89
1,734		ViewPoint Financial Group		36
1,010	*	Virginia Commerce Bancorp		9
568	*	Walker & Dunlop, Inc		9
835		Washington Banking Co		11
5,275		Washington Federal, Inc		89
881		Washington Trust Bancorp, Inc		23
3,466		Webster Financial Corp		71
231,808		Wells Fargo & Co		7,923
1,213		WesBanco, Inc		27
997		West Bancorporation, Inc		11
992		West Coast Bancorp		22
1,286		Westamerica Bancorporation		55
3,132	*	Western Alliance Bancorp		33
1,313		Westfield Financial, Inc		9
2,922	*	Wilshire Bancorp, Inc		17

4

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,580		Wintrust Financial Corp	$	58
320		WSFS Financial Corp		14
8,939		Zions Bancorporation		191
		TOTAL BANKS		24,823
CAPITAL GOODS - 8.2%
32,887		3M Co		3,054
1,795		A.O. Smith Corp		113
851		Aaon, Inc		18
2,061		AAR Corp		39
2,045	*e	Accuride Corp		7
1,483		Aceto Corp		15
2,862		Actuant Corp (Class A)		80
2,053		Acuity Brands, Inc		139
5,359	*	Aecom Technology Corp		128
1,981	*	Aegion Corp		44
831	*	Aerovironment, Inc		18
4,488	*	AGCO Corp		220
3,284	*	Air Lease Corp		71
2,801		Aircastle Ltd		35
374		Alamo Group, Inc		12
1,443		Albany International Corp (Class A)		33
1,338		Alliant Techsystems, Inc		83
1,557		Altra Holdings, Inc		34
909	*	Ameresco, Inc		9
569		American Railcar Industries, Inc		18
373		American Science & Engineering, Inc		24
2,155	*e	American Superconductor Corp		6
475	*	American Woodmark Corp		13
11,155		Ametek, Inc		419
475		Ampco-Pittsburgh Corp		9
1,541	*e	API Technologies Corp		5
1,479		Apogee Enterprises, Inc		35
2,044		Applied Industrial Technologies, Inc		86
420		Argan, Inc		8
988		Armstrong World Industries, Inc		50
861	*	ArvinMeritor, Inc		4
534		Astec Industries, Inc		18
525	*	Astronics Corp		12
78	*	Astronics Corp (Class B)		2
1,446		AZZ, Inc		56
5,372		Babcock & Wilcox Co		141
2,603		Barnes Group, Inc		58
4,904	*	BE Aerospace, Inc		242
2,410	*	Beacon Roofing Supply, Inc		80
2,316		Belden CDT, Inc		104
2,508	*	Blount International, Inc		40
35,310		Boeing Co		2,661
2,394		Brady Corp (Class A)		80
2,463		Briggs & Stratton Corp		52
2,524	*	Builders FirstSource, Inc		14
531	*	CAI International, Inc		12
12,740	*e	Capstone Turbine Corp		11
3,097		Carlisle Cos, Inc		182
453		Cascade Corp		29
30,763		Caterpillar, Inc		2,756
1,453	*	Chart Industries, Inc		97
4,806		Chicago Bridge & Iron Co NV		223
839		CIRCOR International, Inc		33
2,439		Clarcor, Inc		117
1,332		CNH Global NV		54
428		Coleman Cable, Inc		4
2,110	*	Colfax Corp		85
1,162	*	Columbus McKinnon Corp		19
2,009		Comfort Systems USA, Inc		24
1,268	*	Commercial Vehicle Group, Inc		10
2,466		Crane Co		114
828		Cubic Corp		40
9,156		Cummins, Inc		992
2,273		Curtiss-Wright Corp		75
27,292		Danaher Corp		1,526
18,725		Deere & Co		1,618

5

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,771	*e	DigitalGlobe, Inc	$	43
6,818		Donaldson Co, Inc		224
932		Douglas Dynamics, Inc		13
8,646		Dover Corp		568
430	*	DXP Enterprises, Inc		21
1,870	*	Dycom Industries, Inc		37
757		Dynamic Materials Corp		11
21,792		Eaton Corp		1,181
758	*	Edgen Group, Inc		5
2,932		EMCOR Group, Inc		101
34,563		Emerson Electric Co		1,830
840		Encore Wire Corp		25
1,511	*	Energy Recovery, Inc		5
2,332	*	EnerSys		88
788	*	Engility Holdings, Inc		15
908	*	EnPro Industries, Inc		37
1,380		ESCO Technologies, Inc		52
1,554	*	Esterline Technologies Corp		99
9,057		Exelis, Inc		102
13,771		Fastenal Co		643
3,085	*	Federal Signal Corp		23
2,307	*	Flow International Corp		8
2,454		Flowserve Corp		360
7,931		Fluor Corp		466
7,238	*	Fortune Brands Home & Security, Inc		212
898		Franklin Electric Co, Inc		56
635		Freightcar America, Inc		14
4,152	*	FuelCell Energy, Inc		4
2,145	*	Furmanite Corp		12
2,430		Gardner Denver, Inc		166
2,370		GATX Corp		103
2,932	*	GenCorp, Inc		27
1,246		Generac Holdings, Inc		43
2,068	*	General Cable Corp		63
15,088		General Dynamics Corp		1,045
501,549		General Electric Co		10,527
730	*	GeoEye, Inc		22
1,633	*	Gibraltar Industries, Inc		26
809		Global Power Equipment Group, Inc		14
795		Gorman-Rupp Co		24
2,939		Graco, Inc		151
4,898	*	GrafTech International Ltd		46
604		Graham Corp		12
1,832		Granite Construction, Inc		62
3,079		Great Lakes Dredge & Dock Corp		28
869	*	Greenbrier Cos, Inc		14
2,356		Griffon Corp		27
1,293		H&E Equipment Services, Inc		19
534		Hardinge, Inc		5
4,082		Harsco Corp		96
2,240		Heico Corp		100
4,837	*	Hexcel Corp		130
36,702		Honeywell International, Inc		2,329
800		Houston Wire & Cable Co		10
2,806		Hubbell, Inc (Class B)		237
2,459		Huntington Ingalls		107
316	*	Hurco Cos, Inc		7
542		Hyster-Yale Materials Handling, Inc		26
4,026		IDEX Corp		187
2,800	*	II-VI, Inc		51
20,012		Illinois Tool Works, Inc		1,217
14,104		Ingersoll-Rand plc		676
916		Insteel Industries, Inc		11
4,471		ITT Corp		105
6,034	*	Jacobs Engineering Group, Inc		257
1,665		John Bean Technologies Corp		30
5,106		Joy Global, Inc		326
208	*	Kadant, Inc		6
1,371		Kaman Corp		50
1,677		Kaydon Corp		40
6,842		KBR, Inc		205

6

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,920		Kennametal, Inc	$	157
953	*	KEYW Holding Corp		12
1,860	*	Kratos Defense & Security Solutions, Inc		9
4,551		L-3 Communications Holdings, Inc		349
990	*	Layne Christensen Co		24
659		LB Foster Co (Class A)		29
2,159		Lennox International, Inc		113
3,889		Lincoln Electric Holdings, Inc		189
623	e	Lindsay Manufacturing Co		50
533	*	LMI Aerospace, Inc		10
12,229		Lockheed Martin Corp		1,129
1,293		LSI Industries, Inc		9
853	*	Lydall, Inc		12
6,443		Manitowoc Co, Inc		101
17,530		Masco Corp		292
2,813	*	Mastec, Inc		70
901		Met-Pro Corp		9
445		Michael Baker Corp		11
947	*	Middleby Corp		121
614		Miller Industries, Inc		9
1,850	*	Moog, Inc (Class A)		76
2,027		MSC Industrial Direct Co (Class A)		153
935		Mueller Industries, Inc		47
8,122		Mueller Water Products, Inc (Class A)		46
881	*	MYR Group, Inc		20
206		National Presto Industries, Inc		14
2,730	*e	Navistar International Corp		59
926	*	NCI Building Systems, Inc		13
822	*	NN, Inc		8
3,046		Nordson Corp		192
383	*	Nortek, Inc		25
11,905		Northrop Grumman Corp		805
625	*	Northwest Pipe Co		15
2,885	*	Orbital Sciences Corp		40
1,499	*	Orion Marine Group, Inc		11
4,565	*	Oshkosh Truck Corp		135
5,833	*	Owens Corning, Inc		216
16,883		Paccar, Inc		763
5,632		Pall Corp		339
7,125		Parker Hannifin Corp		606
10,086		Pentair Ltd		496
1,399	*	Perini Corp		19
1,025		Pike Electric Corp		10
762	*	PMFG, Inc		7
2,263	*e	Polypore International, Inc		105
458	*	Powell Industries, Inc		19
6,830		Precision Castparts Corp		1,294
96		Preformed Line Products Co		6
1,320		Primoris Services Corp		20
244	*	Proto Labs, Inc		10
1,987		Quanex Building Products Corp		41
9,586	*	Quanta Services, Inc		262
1,726		Raven Industries, Inc		46
15,751		Raytheon Co		907
1,025	*	RBC Bearings, Inc		51
1,883		Regal-Beloit Corp		133
1,385	*	Rexnord Corp		30
1,740		Robbins & Myers, Inc		103
6,733		Rockwell Automation, Inc		566
6,912		Rockwell Collins, Inc		402
4,560		Roper Industries, Inc		508
1,703	*	Rush Enterprises, Inc (Class A)		35
559		Sauer-Danfoss, Inc		30
16		Seaboard Corp		40
576		SeaCube Container Leasing Ltd		11
3,185	*	Shaw Group, Inc		148
1,742		Simpson Manufacturing Co, Inc		57
2,823		Snap-On, Inc		223
5,621	*	Spirit Aerosystems Holdings, Inc (Class A)		95
2,461		SPX Corp		173
616		Standex International Corp		32
7,920		Stanley Works		586

7

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
701	*	Sterling Construction Co, Inc	$	7
1,027		Sun Hydraulics Corp		27
1,019		TAL International Group, Inc		37
1,988	*	Taser International, Inc		18
1,622	*	Teledyne Technologies, Inc		106
1,004		Tennant Co		44
5,365	*	Terex Corp		151
590	e	Textainer Group Holdings Ltd		19
13,409		Textron, Inc		332
728	*	Thermon Group Holdings		16
4,280		Timken Co		205
2,128	e	Titan International, Inc		46
784	*e	Titan Machinery, Inc		19
2,682		Toro Co		115
2,372		TransDigm Group, Inc		323
714	*	Trex Co, Inc		27
1,579	*	Trimas Corp		44
4,029		Trinity Industries, Inc		144
2,423		Triumph Group, Inc		158
562	e	Twin Disc, Inc		10
4,555	*	United Rentals, Inc		207
43,014		United Technologies Corp		3,528
979		Universal Forest Products, Inc		37
3,591		URS Corp		141
3,497	*e	USG Corp		98
1,134		Valmont Industries, Inc		155
1,023	*	Vicor Corp		6
2,775		W.W. Grainger, Inc		562
926	*	Wabash National Corp		8
3,136	*	WABCO Holdings, Inc		204
1,468		Watsco, Inc		110
1,103		Watts Water Technologies, Inc (Class A)		47
2,122	*e	WESCO International, Inc		143
2,251		Westinghouse Air Brake Technologies Corp		197
3,365		Woodward Governor Co		128
8,729		Xylem, Inc		237
		TOTAL CAPITAL GOODS		61,701
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
2,600		ABM Industries, Inc		52
2,406	*	Acacia Research (Acacia Technologies)		62
5,555	*	ACCO Brands Corp		41
828		Acorn Energy, Inc		6
1,159		Administaff, Inc		38
10,987		ADT Corp		511
1,661	*	Advisory Board Co		78
928		American Ecology Corp		22
2,166	*	ARC Document Solutions, Inc		6
508	*	AT Cross Co		5
5,027		Avery Dennison Corp		176
383		Barrett Business Services, Inc		15
2,433		Brink’s Co		69
1,375	*	Casella Waste Systems, Inc (Class A)		6
2,695	*	CBIZ, Inc		16
669		CDI Corp		11
3,345	*e	Cenveo, Inc		9
5,000		Cintas Corp		205
2,372	*	Clean Harbors, Inc		130
493	*	Consolidated Graphics, Inc		17
5,437	*e	Coolbrands International, Inc		10
4,410	*	Copart, Inc		130
1,551		Corporate Executive Board Co		74
4,833		Corrections Corp of America		171
594		Courier Corp		7
4,991		Covanta Holding Corp		92
717	*	CRA International, Inc		14
2,529		Deluxe Corp		82
1,664	*	Dolan Media Co		6
2,130		Dun & Bradstreet Corp		168
4,206	*	EnergySolutions, Inc		13
1,037	*	EnerNOC, Inc		12
1,357		Ennis, Inc		21

8

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
5,587		Equifax, Inc	$	302
641	*	Exponent, Inc		36
691	*	Franklin Covey Co		9
2,087	*	FTI Consulting, Inc		69
989		G & K Services, Inc (Class A)		34
3,785		Geo Group, Inc		107
645	*	GP Strategies Corp		13
3,373		Healthcare Services Group		78
943		Heidrick & Struggles International, Inc		14
218	*	Heritage-Crystal Clean, Inc		3
2,267		Herman Miller, Inc		49
1,422	*	Hill International, Inc		5
2,339		HNI Corp		70
1,656	*	Hudson Highland Group, Inc		7
1,154	*	Huron Consulting Group, Inc		39
892	*	ICF International, Inc		21
5,063	*	ICO Global Communications Holdings Ltd		6
2,333	*	IHS, Inc (Class A)		224
1,402	*e	Innerworkings, Inc		19
2,666		Interface, Inc		43
462		Intersections, Inc		4
8,146		Iron Mountain, Inc		253
1,460		KAR Auction Services, Inc		30
1,394		Kelly Services, Inc (Class A)		22
1,380		Kforce, Inc		20
1,737		Kimball International, Inc (Class B)		20
2,470		Knoll, Inc		38
2,433	*	Korn/Ferry International		39
3,935		Manpower, Inc		167
1,316		McGrath RentCorp		38
1,459	*	Metalico, Inc		3
1,391		Mine Safety Appliances Co		59
757	*	Mistras Group, Inc		19
1,600	*	Mobile Mini, Inc		33
514		Multi-Color Corp		12
2,873	*	Navigant Consulting, Inc		32
5,912	*	Nielsen Holdings NV		181
563		NL Industries, Inc		6
3,322	*e	Odyssey Marine Exploration, Inc		10
2,101	*	On Assignment, Inc		43
8,271	e	Pitney Bowes, Inc		88
891	e	Quad		18
9,054	e	R.R. Donnelley & Sons Co		81
14,205		Republic Services, Inc		417
2,774		Resources Connection, Inc		33
6,958		Robert Half International, Inc		221
2,589		Rollins, Inc		57
489	*	RPX Corp		4
977		Schawk, Inc (Class A)		13
672	*	Standard Parking Corp		15
3,734		Steelcase, Inc (Class A)		48
3,985	*	Stericycle, Inc		372
1,911	*	SYKES Enterprises, Inc		29
1,110	*	Team, Inc		42
3,077	*	Tetra Tech, Inc		81
648	*	TMS International Corp		8
2,955		Towers Watson & Co		166
896	*	TRC Cos, Inc		5
1,954	*	TrueBlue, Inc		31
21,974		Tyco International Ltd		643
664		Unifirst Corp		49
1,976		United Stationers, Inc		61
6,822	*	Verisk Analytics, Inc		348
1,084		Viad Corp		29
205		VSE Corp		5
295	*	WageWorks, Inc		5
5,431		Waste Connections, Inc		184
21,659		Waste Management, Inc		731
		TOTAL COMMERCIAL & PROFESSIONAL SERVICES		8,236

9

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
CONSUMER DURABLES & APPAREL - 1.5%
1,931		American Greetings Corp (Class A)	$	33
653	*	Arctic Cat, Inc		22
562		Bassett Furniture Industries, Inc		7
970	*e	Beazer Homes USA, Inc		16
499	e	Blyth, Inc		8
4,339		Brunswick Corp		126
3,430		Callaway Golf Co		22
2,193	*	Carter’s, Inc		122
379	*	Cavco Industries, Inc		19
442		Cherokee, Inc		6
715	*	Clarus Corp		6
13,689		Coach, Inc		760
562	e	Columbia Sportswear Co		30
4,300	*	CROCS, Inc		62
269		CSS Industries, Inc		6
1,373	*e	Deckers Outdoor Corp		55
351	*	Delta Apparel, Inc		5
13,501		DR Horton, Inc		267
1,299	e	Ethan Allen Interiors, Inc		33
5,284	*	Fifth & Pacific Cos, Inc		66
2,570	*	Fossil, Inc		239
5,292	e	Garmin Ltd		216
811	*	G-III Apparel Group Ltd		28
4,868	*	Hanesbrands, Inc		174
3,541		Harman International Industries, Inc		158
5,630	e	Hasbro, Inc		202
1,630	*	Helen of Troy Ltd		54
500		Hooker Furniture Corp		7
4,761	*e	Hovnanian Enterprises, Inc (Class A)		33
3,571	*	Iconix Brand Group, Inc		80
1,204	*	iRobot Corp		23
816		Jakks Pacific, Inc		10
3,869		Jarden Corp		200
232	*	Johnson Outdoors, Inc		5
4,415		Jones Apparel Group, Inc		49
4,044	e	KB Home		64
1,430	*e	K-Swiss, Inc (Class A)		5
2,552		La-Z-Boy, Inc		36
1,909	*	Leapfrog Enterprises, Inc		17
6,795		Leggett & Platt, Inc		185
7,949	e	Lennar Corp (Class A)		307
847	*	Libbey, Inc		16
362		Lifetime Brands, Inc		4
862	*	M/I Homes, Inc		23
1,202	*	Maidenform Brands, Inc		24
1,066		Marine Products Corp		6
16,059		Mattel, Inc		588
1,887		MDC Holdings, Inc		69
1,184	*	Meritage Homes Corp		44
4,127	*	Michael Kors Holdings Ltd		211
2,686	*	Mohawk Industries, Inc		243
817		Movado Group, Inc		25
271		Nacco Industries, Inc (Class A)		17
14,090		Newell Rubbermaid, Inc		314
34,052		Nike, Inc (Class B)		1,757
233	*	NVR, Inc		214
733		Oxford Industries, Inc		34
804		Perry Ellis International, Inc		16
3,415		Phillips-Van Heusen Corp		379
3,100		Polaris Industries, Inc		261
2,301		Pool Corp		97
16,595	*	Pulte Homes, Inc		301
6,801	*	Quiksilver, Inc		29
2,959		Ralph Lauren Corp		444
444		RG Barry Corp		6
2,334		Ryland Group, Inc		85
2,732	*e	Sealy Corp		6
1,898	*	Skechers U.S.A., Inc (Class A)		35
796	*	Skullcandy, Inc		6
2,979	*e	Smith & Wesson Holding Corp		25

10

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
5,166	*e	Standard-Pacific Corp	$	38
288	*	Steinway Musical Instruments, Inc		6
1,788	*	Steven Madden Ltd		76
957	e	Sturm Ruger & Co, Inc		44
2,638	*	Tempur-Pedic International, Inc		83
6,926	*	Toll Brothers, Inc		224
1,435		True Religion Apparel, Inc		37
1,038	*	Tumi Holdings, Inc		22
2,713		Tupperware Corp		174
3,728	*e	Under Armour, Inc (Class A)		181
489	*	Unifi, Inc		6
787	*	Universal Electronics, Inc		15
1,001	*e	Vera Bradley, Inc		25
4,128		VF Corp		623
1,991	*	Warnaco Group, Inc		143
378		Weyco Group, Inc		9
3,754		Whirlpool Corp		382
2,109		Wolverine World Wide, Inc		86
1,005	*e	Zagg, Inc		7
		TOTAL CONSUMER DURABLES & APPAREL		11,223
CONSUMER SERVICES - 2.2%
1,322	*	AFC Enterprises		35
960	*e	American Public Education, Inc		35
1,644		Ameristar Casinos, Inc		43
4,416	*	Apollo Group, Inc (Class A)		92
692	*	Ascent Media Corp (Series A)		43
2,180	*	Bally Technologies, Inc		97
1,195	*	BJ’s Restaurants, Inc		39
1,070	*	Bloomin’ Brands, Inc		17
1,424		Bob Evans Farms, Inc		57
2,708	*e	Boyd Gaming Corp		18
987	*	Bravo Brio Restaurant Group, Inc		13
910	*e	Bridgepoint Education, Inc		9
3,620		Brinker International, Inc		112
937	*	Buffalo Wild Wings, Inc		68
1,990	*e	Caesars Entertainment Corp		14
428	*	Capella Education Co		12
3,103	*	Career Education Corp		11
1,022	*	Caribou Coffee Co, Inc		17
19,591		Carnival Corp		720
620	*	Carrols Restaurant Group, Inc		4
929		CBRL Group, Inc		60
1,153		CEC Entertainment, Inc		38
2,494		Cheesecake Factory		82
1,475	*	Chipotle Mexican Grill, Inc (Class A)		439
1,471	e	Choice Hotels International, Inc		49
533		Churchill Downs, Inc		35
1,574	*e	Coinstar, Inc		82
4,659	*	Corinthian Colleges, Inc		11
6,294		Darden Restaurants, Inc		284
4,746	*	Denny’s Corp		23
2,602		DeVry, Inc		62
740	*	DineEquity, Inc		50
2,824		Domino’s Pizza, Inc		123
3,170	e	Dunkin Brands Group, Inc		105
1,956	*e	Education Management Corp		9
289		Einstein Noah Restaurant Group, Inc		4
620	*	Fiesta Restaurant Group, Inc		10
1,932	*	Grand Canyon Education, Inc		45
13,072		H&R Block, Inc		243
3,288		Hillenbrand, Inc		74
2,201	*	Hyatt Hotels Corp		85
309	*	Ignite Restaurant Group, Inc		4
12,691		International Game Technology		180
903		International Speedway Corp (Class A)		25
1,901		Interval Leisure Group, Inc		37
1,142	*	Isle of Capri Casinos, Inc		6
774	*	ITT Educational Services, Inc		13
2,134	*	Jack in the Box, Inc		61
3,249	*	Jamba, Inc		7

11

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,265	*e	K12, Inc	$	26
2,917	*	Krispy Kreme Doughnuts, Inc		27
18,901		Las Vegas Sands Corp		872
2,155	*	Life Time Fitness, Inc		106
870		Lincoln Educational Services Corp		5
977	*	Luby’s, Inc		7
638		Mac-Gray Corp		8
1,242		Marcus Corp		16
11,954		Marriott International, Inc (Class A)		446
1,390	*	Marriott Vacations Worldwide Corp		58
1,362		Matthews International Corp (Class A)		44
48,229		McDonald’s Corp		4,254
19,284	*	MGM Mirage		224
604	*	Monarch Casino & Resort, Inc		7
1,158	*	Morgans Hotel Group Co		6
1,097	*	MTR Gaming Group, Inc		5
1,276	*	Multimedia Games, Inc		19
386		National American University Holdings, Inc		1
4,684	*	Orient-Express Hotels Ltd (Class A)		55
1,338	*	Panera Bread Co (Class A)		213
717	*	Papa John’s International, Inc		39
3,077	*	Penn National Gaming, Inc		151
3,407	*	Pinnacle Entertainment, Inc		54
490	*	Red Lion Hotels Corp		4
666	*	Red Robin Gourmet Burgers, Inc		24
2,615		Regis Corp		44
7,326		Royal Caribbean Cruises Ltd		249
3,070	*	Ruby Tuesday, Inc		24
1,588	*	Ruth’s Chris Steak House, Inc		12
2,868	*	Scientific Games Corp (Class A)		25
10,550		Service Corp International		146
2,802	*	SHFL Entertainment, Inc		41
1,933		Six Flags Entertainment Corp		118
3,411	*	Sonic Corp		36
3,299		Sotheby’s (Class A)		111
581		Speedway Motorsports, Inc		10
35,666		Starbucks Corp		1,912
9,527		Starwood Hotels & Resorts Worldwide, Inc		546
60	*	Steak N Shake Co		23
636	*	Steiner Leisure Ltd		31
4,084		Stewart Enterprises, Inc (Class A)		31
605	e	Strayer Education, Inc		34
3,228		Texas Roadhouse, Inc (Class A)		54
1,064		Town Sports International Holdings, Inc		11
1,028		Universal Technical Institute, Inc		10
1,746		Vail Resorts, Inc		94
1,296	e	Weight Watchers International, Inc		68
15,922		Wendy’s		75
2,067	*	WMS Industries, Inc		36
6,722		Wyndham Worldwide Corp		358
3,741		Wynn Resorts Ltd		421
21,761		Yum! Brands, Inc		1,445
		TOTAL CONSUMER SERVICES		16,338
DIVERSIFIED FINANCIALS - 6.3%
2,494	*	Affiliated Managers Group, Inc		325
15,987	*	American Capital Ltd		192
47,209		American Express Co		2,714
9,589		Ameriprise Financial, Inc		601
9,666		Apollo Investment Corp		81
10,764		Ares Capital Corp		188
1,707		Artio Global Investors, Inc		3
818	*	Asset Acceptance Capital Corp		4
511,480		Bank of America Corp		5,933
55,944		Bank of New York Mellon Corp		1,438
4,832		BGC Partners, Inc (Class A)		17
2,986		BlackRock Kelso Capital Corp		30
5,984		BlackRock, Inc		1,237
1,288		Calamos Asset Management, Inc (Class A)		14
27,586		Capital One Financial Corp		1,598
147		Capital Southwest Corp		15
1,482		Cash America International, Inc		59

12

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,253		CBOE Holdings, Inc	$	125
52,189		Charles Schwab Corp		749
138,877		Citigroup, Inc		5,494
15,750		CME Group, Inc		799
1,086	e	Cohen & Steers, Inc		33
5,330	*	Cowen Group, Inc		13
296	*	Credit Acceptance Corp		30
118		Diamond Hill Investment Group, Inc		8
25,160		Discover Financial Services		970
2,202	*	Dollar Financial Corp		41
1,551		Duff & Phelps Corp		24
13,858	*	E*Trade Financial Corp		124
5,610		Eaton Vance Corp		179
1,077	*	Encore Capital Group, Inc		33
737		Epoch Holding Corp		21
1,394		Evercore Partners, Inc (Class A)		42
2,322	*	Ezcorp, Inc (Class A)		46
2,692	*	FBR Capital Markets Corp		10
4,555	e	Federated Investors, Inc (Class B)		92
451		Fidus Investment Corp		7
4,013		Fifth Street Finance Corp		42
2,248	*	Financial Engines, Inc		62
1,630	*	First Cash Financial Services, Inc		81
3,742	*e	First Marblehead Corp		3
6,607		Franklin Resources, Inc		830
352		Friedman Billings Ramsey Group, Inc (Class A)		7
950	e	FXCM, Inc		10
349		GAMCO Investors, Inc (Class A)		19
3,928		GFI Group, Inc		13
1,256		Gladstone Capital Corp		10
1,326		Gladstone Investment Corp		9
23,301		Goldman Sachs Group, Inc		2,972
674	e	Golub Capital BDC, Inc		11
1,122	*e	Green Dot Corp		14
1,492		Greenhill & Co, Inc		78
918	*e	GSV Capital Corp		8
1,395	*	Harris & Harris Group, Inc		5
2,227		Hercules Technology Growth Capital, Inc		25
1,489		HFF, Inc (Class A)		22
2,025		Interactive Brokers Group, Inc (Class A)		28
3,597	*	IntercontinentalExchange, Inc		445
675	*	International Assets Holding Corp		12
1,945	*	Internet Capital Group, Inc		22
21,108		Invesco Ltd		551
1,857	*	Investment Technology Group, Inc		17
25,036	e	iShares Russell 3000 Index Fund		2,120
9,425	e	Janus Capital Group, Inc		80
6,156		Jefferies Group, Inc		114
822		JMP Group, Inc		5
180,094		JPMorgan Chase & Co		7,919
1,881		KBW, Inc		29
1,010	e	KCAP Financial, Inc		9
2,500	*	Knight Capital Group, Inc (Class A)		9
5,033	*e	Ladenburg Thalmann Financial Services, Inc		7
5,598		Lazard Ltd (Class A)		167
6,879		Legg Mason, Inc		177
9,602		Leucadia National Corp		228
2,452		LPL Financial Holdings, Inc		69
1,017	e	Main Street Capital Corp		31
671		Manning & Napier, Inc		8
1,771		MarketAxess Holdings, Inc		63
418		Marlin Business Services Corp		8
3,668		MCG Capital Corp		17
872		Medallion Financial Corp		10
594		Medley Capital Corp		9
9,425		Moody’s Corp		474
73,133		Morgan Stanley		1,398
5,906	*	MSCI, Inc (Class A)		183
1,507		MVC Capital, Inc		18
5,655		Nasdaq Stock Market, Inc		141
1,305		Nelnet, Inc (Class A)		39
1,400	*	Netspend Holdings, Inc		17

13

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
354		New Mountain Finance Corp	$	5
959	*	NewStar Financial, Inc		13
1,181		NGP Capital Resources Co		9
489		Nicholas Financial, Inc		6
10,153		Northern Trust Corp		509
12,331		NYSE Euronext		389
448		Oppenheimer Holdings, Inc		8
2,314		PennantPark Investment Corp		25
2,946	*	PHH Corp		67
1,198	*	Pico Holdings, Inc		24
935	*	Piper Jaffray Cos		30
832	*	Portfolio Recovery Associates, Inc		89
5,897		Prospect Capital Corp		64
5,235		Raymond James Financial, Inc		202
1,299	*	Safeguard Scientifics, Inc		19
6,909		SEI Investments Co		161
22,822		SLM Corp		391
305		Solar Capital Ltd		7
375		Solar Senior Capital Ltd		7
5,601		SPDR Trust Series 1		798
23,198		State Street Corp		1,091
2,739	*	Stifel Financial Corp		88
1,726	*	SWS Group, Inc		9
12,394		T Rowe Price Group, Inc		807
11,051		TD Ameritrade Holding Corp		186
456		THL Credit, Inc		7
1,849		TICC Capital Corp		19
1,314	e	Triangle Capital Corp		33
164	*	Virtus Investment Partners, Inc		20
4,202		Waddell & Reed Financial, Inc (Class A)		146
1,146	*	Walter Investment Management Corp		49
322		Westwood Holdings Group, Inc		13
2,862	*	WisdomTree Investments, Inc		17
538	*e	World Acceptance Corp		40
		TOTAL DIVERSIFIED FINANCIALS		47,282
ENERGY - 9.8%
4,200	*e	Abraxas Petroleum Corp		9
783		Alon USA Energy, Inc		14
8,501	*e	Alpha Natural Resources, Inc		83
885	*e	Amyris Biotechnologies, Inc		3
23,483		Anadarko Petroleum Corp		1,745
18,342		Apache Corp		1,440
460		APCO Argentina, Inc		6
1,397	*	Approach Resources, Inc		35
9,903		Arch Coal, Inc		72
2,862	*	Atwood Oceanics, Inc		131
20,776		Baker Hughes, Inc		849
1,205	*e	Basic Energy Services, Inc		14
2,676		Berry Petroleum Co (Class A)		90
2,422	*	Bill Barrett Corp		43
411		Bolt Technology Corp		6
478	*e	Bonanza Creek Energy, Inc		13
4,811	*e	BPZ Energy, Inc		15
1,671		Bristow Group, Inc		90
2,159	*	C&J Energy Services, Inc		46
9,938		Cabot Oil & Gas Corp		494
4,578	*e	Cal Dive International, Inc		8
1,294	*	Callon Petroleum Co		6
11,722	*	Cameron International Corp		662
971		CARBO Ceramics, Inc		76
1,963	*	Carrizo Oil & Gas, Inc		41
7,849	*	Cheniere Energy, Inc		147
31,576	e	Chesapeake Energy Corp		525
93,614		Chevron Corp		10,123
4,163		Cimarex Energy Co		240
326	*	Clayton Williams Energy, Inc		13
3,211	*e	Clean Energy Fuels Corp		40
1,710	*	Cloud Peak Energy, Inc		33
8,450	*	Cobalt International Energy, Inc		208
2,095	*	Comstock Resources, Inc		32

14

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,892	*	Concho Resources, Inc	$	394
59,944		ConocoPhillips		3,476
10,835		Consol Energy, Inc		348
582		Contango Oil & Gas Co		25
2,051	*	Continental Resources, Inc		151
1,064	*	Crimson Exploration, Inc		3
2,304		Crosstex Energy, Inc		33
4,444	*	CVR Energy, Inc (Contingent value right)		0	^
474	*	Dawson Geophysical Co		13
683		Delek US Holdings, Inc		17
18,205	*	Denbury Resources, Inc		295
19,197		Devon Energy Corp		999
3,213		Diamond Offshore Drilling, Inc		218
3,707	*	Dresser-Rand Group, Inc		208
1,762	*	Dril-Quip, Inc		129
321	*	Emerald Oil, Inc		2
1,867	*e	Endeavour International Corp		10
3,525		Energen Corp		159
3,786		Energy XXI Bermuda Ltd		122
12,659		EOG Resources, Inc		1,529
1,505	*	EPL Oil & Gas, Inc		34
6,395		Equitable Resources, Inc		377
668	*	Evolution Petroleum Corp		5
5,972	e	EXCO Resources, Inc		40
3,340	*	Exterran Holdings, Inc		73
221,875	d	Exxon Mobil Corp		19,203
11,484	*	FMC Technologies, Inc		492
5,689	*	Forest Oil Corp		38
2,722	*e	Frontline Ltd		9
2,612	*	FX Energy, Inc		11
1,114		GasLog Ltd		14
2,282	*	Gastar Exploration Ltd		3
626	*	Geospace Technologies Corp		56
277	*e	Gevo, Inc		0	^
933	*	Global Geophysical Services, Inc		4
2,142	e	Golar LNG Ltd		79
1,342	*e	Goodrich Petroleum Corp		13
827	*	Green Plains Renewable Energy, Inc		7
727		Gulf Island Fabrication, Inc		17
934		Gulfmark Offshore, Inc		32
2,715	*	Gulfport Energy Corp		104
5,352	*	Halcon Resources Corp		37
43,487		Halliburton Co		1,509
1,747	*	Harvest Natural Resources, Inc		16
6,458	*e	Heckmann Corp		26
5,489	*	Helix Energy Solutions Group, Inc		113
4,572		Helmerich & Payne, Inc		256
5,516	*	Hercules Offshore, Inc		34
14,396		Hess Corp		762
9,455		Holly Corp		440
1,710	*	Hornbeck Offshore Services, Inc		59
6,522	*	ION Geophysical Corp		42
61	*	Isramco, Inc		6
7,365	*	Key Energy Services, Inc		51
23,142		Kinder Morgan, Inc		818
1,322	*e	KiOR, Inc (Class A)		8
1,036		Knightsbridge Tankers Ltd		5
12,776	*	Kodiak Oil & Gas Corp		113
3,404	*	Kosmos Energy LLC		42
790	*	Laredo Petroleum Holdings, Inc		14
1,636		Lufkin Industries, Inc		95
7,113	*e	Magnum Hunter Resources Corp		28
33,373		Marathon Oil Corp		1,023
16,133		Marathon Petroleum Corp		1,016
678	*	Matador Resources Co		6
1,545	*	Matrix Service Co		18
10,235	*	McDermott International, Inc		113
4,906	*e	McMoRan Exploration Co		79
1,188	*	Midstates Petroleum Co, Inc		8
738	*e	Miller Petroleum, Inc		3
507	*	Mitcham Industries, Inc		7

15

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
9,134		Murphy Oil Corp	$	544
14,129	*	Nabors Industries Ltd		204
20,267		National Oilwell Varco, Inc		1,385
714	*	Natural Gas Services Group, Inc		12
6,541	*	Newfield Exploration Co		175
4,752	*	Newpark Resources, Inc		37
8,415		Noble Energy, Inc		856
2,356	e	Nordic American Tanker Shipping		21
3,091	*e	Northern Oil And Gas, Inc		52
3,879	*	Oasis Petroleum, Inc		123
38,265		Occidental Petroleum Corp		2,932
5,264		Oceaneering International, Inc		283
2,591	*	Oil States International, Inc		185
447		Panhandle Oil and Gas, Inc (Class A)		13
6,555	*	Parker Drilling Co		30
7,817	e	Patterson-UTI Energy, Inc		146
1,000	*	PDC Energy, Inc		33
13,332		Peabody Energy Corp		355
2,491		Penn Virginia Corp		11
2,768	*	Petroquest Energy, Inc		14
620	*	PHI, Inc		21
29,774		Phillips 66		1,581
2,681	*	Pioneer Energy Services Corp		19
5,804		Pioneer Natural Resources Co		619
6,241	*	Plains Exploration & Production Co		293
8,662		Questar Market Resources, Inc		262
3,214	*e	Quicksilver Resources, Inc		9
7,783		Range Resources Corp		489
11,466		Rentech, Inc		30
2,024	*	Resolute Energy Corp		16
1,826	*	Rex Energy Corp		24
303	*	Rex Stores Corp		6
611	*	RigNet, Inc		12
2,470	*	Rosetta Resources, Inc		112
6,060	*	Rowan Cos PLC		190
3,289	e	RPC, Inc		40
577	*e	Sanchez Energy Corp		10
23,772	*e	SandRidge Energy, Inc		151
857	*	Saratoga Resources, Inc		3
63,292		Schlumberger Ltd		4,386
1,279	*	Scorpio Tankers, Inc		9
891		SEACOR Holdings, Inc		75
2,320	*	SemGroup Corp		91
2,365	e	Ship Finance International Ltd		39
1,581	*e	Solazyme, Inc		12
16,563	*	Southwestern Energy Co		553
30,571		Spectra Energy Corp		837
3,213		St. Mary Land & Exploration Co		168
2,334	*	Stone Energy Corp		48
7,784	*	Superior Energy Services		161
2,133	*	Swift Energy Co		33
1,789	*	Synergy Resources Corp		10
1,406		Targa Resources Investments, Inc		74
1,942		Teekay Corp		62
2,124	e	Teekay Tankers Ltd (Class A)		6
1,600	*	Tesco Corp		18
6,379		Tesoro Corp		281
3,896	*	Tetra Technologies, Inc		30
698		TGC Industries, Inc		6
2,198		Tidewater, Inc		98
2,211	*	Triangle Petroleum Corp		13
7,062	*e	Ultra Petroleum Corp		128
2,117	*	Unit Corp		95
3,239	*e	Uranerz Energy Corp		5
2,636	*e	Uranium Energy Corp		7
2,578	*	Vaalco Energy, Inc		22
26,135		Valero Energy Corp		892
9,477	*e	Vantage Drilling Co		17
1,693		W&T Offshore, Inc		27
3,436	*	Warren Resources, Inc		10
2,614	e	Western Refining, Inc		74
510	*	Westmoreland Coal Co		5

16

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
5,573	*	Whiting Petroleum Corp	$	242
2,395	*	Willbros Group, Inc		13
32,129		Williams Cos, Inc		1,052
3,501		World Fuel Services Corp		144
9,623	*	WPX Energy, Inc		143
1,256	*e	ZaZa Energy Corp		3
		TOTAL ENERGY		74,028
FOOD & STAPLES RETAILING - 2.0%
962		Andersons, Inc		41
66		Arden Group, Inc (Class A)		6
1,705		Casey’s General Stores, Inc		90
521	*	Chefs’ Warehouse Holdings, Inc		8
20,397		Costco Wholesale Corp		2,015
60,696		CVS Corp		2,935
1,174	*	Fresh Market, Inc		56
1,777		Harris Teeter Supermarkets, Inc		68
700		Ingles Markets, Inc (Class A)		12
24,542		Kroger Co		639
656		Nash Finch Co		14
1,214	*	Pantry, Inc		15
882		Pricesmart, Inc		68
29,531	*	Rite Aid Corp		40
1,140	e	Roundy’s, Inc		5
11,699	e	Safeway, Inc		212
1,382		Spartan Stores, Inc		21
11,240	e	Supervalu, Inc		28
533	*	Susser Holdings Corp		18
27,376		Sysco Corp		867
2,446	*	United Natural Foods, Inc		131
424		Village Super Market (Class A)		14
40,546		Walgreen Co		1,501
79,920		Wal-Mart Stores, Inc		5,453
127		Weis Markets, Inc		5
8,760		Whole Foods Market, Inc		800
		TOTAL FOOD & STAPLES RETAILING		15,062
FOOD, BEVERAGE & TOBACCO - 5.2%
246		Alico, Inc		9
5,454	*	Alliance One International, Inc		20
96,462		Altria Group, Inc		3,031
237	*e	Annie’s, Inc		8
31,182		Archer Daniels Midland Co		854
2,348		B&G Foods, Inc (Class A)		66
7,508		Beam, Inc		459
400	*	Boston Beer Co, Inc (Class A)		54
2,588	*	Boulder Brands, Inc		33
6,911		Brown-Forman Corp (Class B)		437
6,803		Bunge Ltd		494
555	e	Calavo Growers, Inc		14
803		Cal-Maine Foods, Inc		32
8,130		Campbell Soup Co		284
3,293	*e	Central European Distribution Corp		7
2,584	*	Chiquita Brands International, Inc		21
263		Coca-Cola Bottling Co Consolidated		17
183,762		Coca-Cola Co		6,661
14,094		Coca-Cola Enterprises, Inc		447
19,573		ConAgra Foods, Inc		577
6,642	*	Constellation Brands, Inc (Class A)		235
5,911	*	Darling International, Inc		95
8,758	*	Dean Foods Co		145
1,154	e	Diamond Foods, Inc		16
1,712	*	Dole Food Co, Inc		20
9,949		Dr Pepper Snapple Group, Inc		440
616	*	Farmer Bros Co		9
5,476		Flowers Foods, Inc		127
1,850		Fresh Del Monte Produce, Inc		49
30,730		General Mills, Inc		1,242
6,698	*e	Green Mountain Coffee Roasters, Inc		277
149		Griffin Land & Nurseries, Inc (Class A)		4
15,095		H.J. Heinz Co		871

17

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,798	*	Hain Celestial Group, Inc	$	97
6,964		Hershey Co		503
5,722		Hillshire Brands Co		161
6,425		Hormel Foods Corp		201
3,512		Ingredion, Inc		226
800		J&J Snack Foods Corp		51
5,262		J.M. Smucker Co		454
368		John B. Sanfilippo & Son, Inc		7
11,297		Kellogg Co		631
27,815	*	Kraft Foods Group, Inc		1,265
690		Lancaster Colony Corp		48
2,402		Lance, Inc		58
443		Limoneira Co		9
6,170		Lorillard, Inc		720
6,163		McCormick & Co, Inc		392
9,792		Mead Johnson Nutrition Co		645
5,769		Molson Coors Brewing Co (Class B)		247
83,896		Mondelez International, Inc		2,137
6,736	*	Monster Beverage Corp		356
621		National Beverage Corp		9
996	*	Omega Protein Corp		6
73,931		PepsiCo, Inc		5,059
80,945		Philip Morris International, Inc		6,770
2,936	*	Pilgrim’s Pride Corp		21
1,328	*	Post Holdings, Inc		45
2,656	*	Ralcorp Holdings, Inc		238
15,284		Reynolds American, Inc		633
1,203		Sanderson Farms, Inc		57
365	*	Seneca Foods Corp		11
6,686	*	Smithfield Foods, Inc		144
889	*	Synutra International, Inc		4
1,222	e	Tootsie Roll Industries, Inc		32
1,794	*	TreeHouse Foods, Inc		94
14,131		Tyson Foods, Inc (Class A)		274
1,060	e	Universal Corp		53
2,639	e	Vector Group Ltd		39
		TOTAL FOOD, BEVERAGE & TOBACCO		38,752
HEALTH CARE EQUIPMENT & SERVICES - 4.7%
1,214		Abaxis, Inc		45
74,364		Abbott Laboratories		4,871
1,811	*e	Abiomed, Inc		24
1,110	*	Acadia Healthcare Co, Inc		26
2,035	*e	Accretive Health, Inc		24
3,073	*	Accuray, Inc		20
16,590		Aetna, Inc		768
1,872		Air Methods Corp		69
3,481	*	Align Technology, Inc		97
8,310	*	Allscripts Healthcare Solutions, Inc		78
380		Almost Family, Inc		8
2,729	*	Alphatec Holdings, Inc		5
1,533	*	Amedisys, Inc		17
12,290		AmerisourceBergen Corp		531
2,008	*	AMN Healthcare Services, Inc		23
1,528	*	Amsurg Corp		46
639		Analogic Corp		47
1,310	*	Angiodynamics, Inc		14
566	*	Anika Therapeutics, Inc		6
3,605	*e	Antares Pharma, Inc		14
1,336	*	Arthrocare Corp		46
1,106		Assisted Living Concepts, Inc (A Shares)		11
1,737	*e	athenahealth, Inc		128
716	*	AtriCure, Inc		5
86		Atrion Corp		17
4,001		Bard (C.R.), Inc		391
25,886		Baxter International, Inc		1,726
9,625		Becton Dickinson & Co		753
1,242	*e	Bio-Reference Labs, Inc		36
2,298	*	BioScrip, Inc		25
69,425	*	Boston Scientific Corp		398
4,927	*	Brookdale Senior Living, Inc		125
1,066		Cantel Medical Corp		32

18

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,396	*	Capital Senior Living Corp	$	26
16,337		Cardinal Health, Inc		673
788	*e	Cardiovascular Systems, Inc		10
10,828	*	CareFusion Corp		309
9,620	*	Catamaran Corp		453
2,518	*	Centene Corp		103
6,928	*	Cerner Corp		538
1,975	*e	Cerus Corp		6
940		Chemed Corp		64
671	*	Chindex International, Inc		7
13,313		Cigna Corp		712
4,283		Community Health Systems, Inc		132
590		Computer Programs & Systems, Inc		30
1,671	*	Conceptus, Inc		35
1,595		Conmed Corp		45
2,129		Cooper Cos, Inc		197
467	*	Corvel Corp		21
6,433		Coventry Health Care, Inc		288
22,612		Covidien plc		1,306
2,234	*	Cross Country Healthcare, Inc		11
1,413		CryoLife, Inc		9
1,243	*	Cyberonics, Inc		65
475	*	Cynosure, Inc (Class A)		11
4,405	*	DaVita, Inc		487
6,571		Dentsply International, Inc		260
3,382	*	DexCom, Inc		46
5,364	*	Edwards Lifesciences Corp		484
1,554	*	Emeritus Corp		38
2,539	*	Endologix, Inc		36
711		Ensign Group, Inc		19
874	*	ePocrates, Inc		8
408	*	Exactech, Inc		7
1,376	*	ExamWorks Group, Inc		19
37,908	*	Express Scripts Holding Co		2,047
1,637	*	Five Star Quality Care, Inc		8
1,497	*	Gentiva Health Services, Inc		15
1,370	*	Greatbatch, Inc		32
395	*e	Greenway Medical Technologies		6
2,074	*	Haemonetics Corp		85
1,683	*	Hanger Orthopedic Group, Inc		46
1,438	*e	Hansen Medical, Inc		3
7,683		HCA Holdings, Inc		232
12,404	*	Health Management Associates, Inc (Class A)		116
4,093	*	Health Net, Inc		99
4,651	*	Healthsouth Corp		98
797	*	HealthStream, Inc		19
1,788	*	Healthways, Inc		19
687	*e	HeartWare International, Inc		58
4,157	*	Henry Schein, Inc		334
3,194		Hill-Rom Holdings, Inc		91
4,287	*	HMS Holdings Corp		111
13,090	*	Hologic, Inc		262
7,717		Humana, Inc		530
604	*	ICU Medical, Inc		37
2,544	*	Idexx Laboratories, Inc		236
2,329	*	Insulet Corp		49
1,114	*	Integra LifeSciences Holdings Corp		43
1,889	*	Intuitive Surgical, Inc		926
1,548		Invacare Corp		25
4,072	*	Inverness Medical Innovations, Inc		75
904	*	IPC The Hospitalist Co, Inc		36
2,539	*	Kindred Healthcare, Inc		27
4,535	*	Laboratory Corp of America Holdings		393
498		Landauer, Inc		30
735	*	LHC Group, Inc		16
2,226	*	LifePoint Hospitals, Inc		84
1,049	*	Magellan Health Services, Inc		51
1,614	*e	MAKO Surgical Corp		21
2,657		Masimo Corp		56
11,158		McKesson Corp		1,082
2,281	*	MedAssets, Inc		38
975	*	Medidata Solutions, Inc		38

19

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
48,822		Medtronic, Inc	$	2,003
2,504	*e	Merge Healthcare, Inc		6
2,066		Meridian Bioscience, Inc		42
1,836	*	Merit Medical Systems, Inc		26
1,450	*	Molina Healthcare, Inc		39
620	*	MWI Veterinary Supply, Inc		68
516		National Healthcare Corp		24
119		National Research Corp		6
1,662	*	Natus Medical, Inc		19
1,314	*	Neogen Corp		60
4,406	*e	Neoprobe Corp		12
2,136	*	NuVasive, Inc		33
2,243	*	NxStage Medical, Inc		25
5,491		Omnicare, Inc		198
1,729	*	Omnicell, Inc		26
2,901	*	OraSure Technologies, Inc		21
1,010	*	Orthofix International NV		40
3,228		Owens & Minor, Inc		92
1,140	*	Palomar Medical Technologies, Inc		11
4,582		Patterson Cos, Inc		157
2,180	*	Pediatrix Medical Group, Inc		173
1,726	*	PharMerica Corp		25
626	*e	PhotoMedex, Inc		9
617	*	Providence Service Corp		11
2,438	*	PSS World Medical, Inc		70
1,960		Quality Systems, Inc		34
7,558		Quest Diagnostics, Inc		440
1,220	*e	Quidel Corp		23
6,632		Resmed, Inc		276
490	*	Rochester Medical Corp		5
804	*e	Rockwell Medical Technologies, Inc		6
3,216	*	RTI Biologics, Inc		14
2,500		Select Medical Holdings Corp		24
2,698	*	Sirona Dental Systems, Inc		174
973	*	Skilled Healthcare Group, Inc (Class A)		6
3,016	*	Solta Medical, Inc		8
1,958	*	Spectranetics Corp		29
14,716		St. Jude Medical, Inc		532
1,741	*	Staar Surgical Co		11
2,985		STERIS Corp		104
14,662		Stryker Corp		804
2,773	*e	Sunrise Senior Living, Inc		40
900	*	SurModics, Inc		20
1,974	*	Symmetry Medical, Inc		21
1,351	*	Team Health Holdings, Inc		39
1,782		Teleflex, Inc		127
4,726	*	Tenet Healthcare Corp		153
2,569	*	Thoratec Corp		96
730	*	Tornier BV		12
249	*	Triple-S Management Corp (Class B)		5
3,641	*e	Unilife Corp		8
49,128		UnitedHealth Group, Inc		2,664
1,661		Universal American Corp		14
4,351		Universal Health Services, Inc (Class B)		210
701		US Physical Therapy, Inc		19
149		Utah Medical Products, Inc		5
1,585	*	Vanguard Health Systems, Inc		19
5,419	*	Varian Medical Systems, Inc		381
937	*	Vascular Solutions, Inc		15
4,351	*	VCA Antech, Inc		92
320	*	Vocera Communications, Inc		8
2,758	*	Volcano Corp		65
2,154	*	WellCare Health Plans, Inc		105
14,248		WellPoint, Inc		868
1,650		West Pharmaceutical Services, Inc		90
2,200	*	Wright Medical Group, Inc		46
233		Young Innovations, Inc		9
821	*	Zeltiq Aesthetics, Inc		4
8,299		Zimmer Holdings, Inc		553
		TOTAL HEALTH CARE EQUIPMENT & SERVICES		35,729

20

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
HOUSEHOLD & PERSONAL PRODUCTS - 2.0%
20,834		Avon Products, Inc	$	299
1,434	*	Central Garden and Pet Co (Class A)		15
6,454		Church & Dwight Co, Inc		346
6,164		Clorox Co		451
22,593		Colgate-Palmolive Co		2,362
1,265	*	Elizabeth Arden, Inc		57
3,126		Energizer Holdings, Inc		250
10,724		Estee Lauder Cos (Class A)		642
867		Female Health Co		6
5,610	e	Herbalife Ltd		185
735		Inter Parfums, Inc		14
18,462		Kimberly-Clark Corp		1,559
721	*	Medifast, Inc		19
537		Nature’s Sunshine Products, Inc		8
2,584		Nu Skin Enterprises, Inc (Class A)		96
602		Nutraceutical International Corp		10
255		Oil-Dri Corp of America		7
289		Orchids Paper Products Co		6
2,523	*	Prestige Brands Holdings, Inc		50
130,018		Procter & Gamble Co		8,827
575	*	Revlon, Inc (Class A)		8
1,115		Spectrum Brands, Inc		50
4,200	*e	Star Scientific, Inc		11
312	*e	USANA Health Sciences, Inc		10
566		WD-40 Co		27
		TOTAL HOUSEHOLD & PERSONAL PRODUCTS		15,315
INSURANCE - 3.8%
16,078		ACE Ltd		1,283
21,967		Aflac, Inc		1,167
772	*	Alleghany Corp		259
1,767		Allied World Assurance Co Holdings Ltd		139
23,256		Allstate Corp		934
3,620		American Equity Investment Life Holding Co		44
3,560		American Financial Group, Inc		141
30,566	*	American International Group, Inc		1,079
355		American National Insurance Co		24
622	*	American Safety Insurance Holdings Ltd		12
915	*	Amerisafe, Inc		25
1,319	e	Amtrust Financial Services, Inc		38
15,446		Aon plc		859
6,213	*	Arch Capital Group Ltd		273
1,252		Argo Group International Holdings Ltd		42
5,455		Arthur J. Gallagher & Co		189
3,581		Aspen Insurance Holdings Ltd		115
3,641		Assurant, Inc		126
7,819		Assured Guaranty Ltd		111
5,327		Axis Capital Holdings Ltd		185
422		Baldwin & Lyons, Inc (Class B)		10
84,256	*	Berkshire Hathaway, Inc (Class B)		7,558
5,834		Brown & Brown, Inc		149
12,813		Chubb Corp		965
6,937		Cincinnati Financial Corp		272
2,162	*	Citizens, Inc (Class A)		24
1,391		CNA Financial Corp		39
11,225		Conseco, Inc		105
1,190		Crawford & Co (Class B)		9
406		Donegal Group, Inc (Class A)		6
309		Eastern Insurance Holdings, Inc		5
844	*	eHealth, Inc		23
168		EMC Insurance Group, Inc		4
1,950		Employers Holdings, Inc		40
2,054		Endurance Specialty Holdings Ltd		82
413	*	Enstar Group Ltd		46
1,505		Erie Indemnity Co (Class A)		104
2,425		Everest Re Group Ltd		267
441		FBL Financial Group, Inc (Class A)		15
10,562		Fidelity National Title Group, Inc (Class A)		249
5,150		First American Financial Corp		124

21

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
23,919	*	Genworth Financial, Inc (Class A)	$	180
1,491	*	Greenlight Capital Re Ltd (Class A)		34
368	*	Hallmark Financial Services		3
2,267		Hanover Insurance Group, Inc		88
20,670		Hartford Financial Services Group, Inc		464
4,914		HCC Insurance Holdings, Inc		183
2,378	*	Hilltop Holdings, Inc		32
366	e	Homeowners Choice, Inc		8
2,010		Horace Mann Educators Corp		40
392		Independence Holding Co		4
632		Infinity Property & Casualty Corp		37
212		Kansas City Life Insurance Co		8
2,516		Kemper Corp		74
13,510		Lincoln National Corp		350
14,433		Loews Corp		588
2,909		Maiden Holdings Ltd		27
430	*	Markel Corp		186
25,866		Marsh & McLennan Cos, Inc		892
4,600		Max Capital Group Ltd		130
6,479	*e	MBIA, Inc		51
2,850		Meadowbrook Insurance Group, Inc		16
1,373		Mercury General Corp		54
40,269		Metlife, Inc		1,326
3,129		Montpelier Re Holdings Ltd		72
2,320	*e	National Financial Partners Corp		40
224		National Interstate Corp		6
106		National Western Life Insurance Co (Class A)		17
636	*	Navigators Group, Inc		32
12,729		Old Republic International Corp		136
1,314		OneBeacon Insurance Group Ltd (Class A)		18
3,140		PartnerRe Ltd		253
354	*	Phoenix Cos, Inc		9
1,669		Platinum Underwriters Holdings Ltd		77
1,054		Primerica, Inc		32
14,206		Principal Financial Group		405
2,588		ProAssurance Corp		109
28,885		Progressive Corp		609
3,883		Protective Life Corp		111
22,241		Prudential Financial, Inc		1,186
3,586		Reinsurance Group of America, Inc (Class A)		192
2,404		RenaissanceRe Holdings Ltd		195
807		RLI Corp		52
678		Safety Insurance Group, Inc		31
999		SeaBright Insurance Holdings, Inc		11
2,700		Selective Insurance Group, Inc		52
2,158		Stancorp Financial Group, Inc		79
913		State Auto Financial Corp		14
1,214	e	Stewart Information Services Corp		32
3,790		Symetra Financial Corp		49
4,857		Torchmark Corp		251
1,864		Tower Group, Inc		33
18,302		Travelers Cos, Inc		1,314
746	*	United America Indemnity Ltd		17
1,337		United Fire & Casualty Co		29
587		Universal Insurance Holdings, Inc		3
13,888		UnumProvident Corp		289
4,375		Validus Holdings Ltd		151
5,001		W.R. Berkley Corp		189
288		White Mountains Insurance Group Ltd		148
14,847		XL Capital Ltd		372
		TOTAL INSURANCE		28,531
MATERIALS - 4.0%
1,430		A. Schulman, Inc		41
428	*	ADA-ES, Inc		7
226	*	AEP Industries, Inc		13
10,014		Air Products & Chemicals, Inc		841
3,339		Airgas, Inc		305
5,809		AK Steel Holding Corp		27
4,328		Albemarle Corp		269
51,793		Alcoa, Inc		450

22

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
5,197		Allegheny Technologies, Inc	$	158
4,499	*	Allied Nevada Gold Corp		136
1,252		AMCOL International Corp		38
1,339		American Vanguard Corp		42
3,092		Aptargroup, Inc		148
970	*	Arabian American Development Co		8
3,647		Ashland, Inc		293
1,365		Balchem Corp		50
7,612		Ball Corp		341
4,932		Bemis Co, Inc		165
5,292		Boise, Inc		42
986		Brush Engineered Materials, Inc		25
1,757		Buckeye Technologies, Inc		50
3,089		Cabot Corp		123
2,978	*	Calgon Carbon Corp		42
2,161		Carpenter Technology Corp		112
1,087	*e	Castle (A.M.) & Co		16
7,589		Celanese Corp (Series A)		338
1,164	*	Century Aluminum Co		10
3,100		CF Industries Holdings, Inc		630
340		Chase Corp		6
3,627	*	Chemtura		77
1,060	*	Clearwater Paper Corp		42
6,623		Cleveland-Cliffs, Inc		255
4,438	*	Coeur d’Alene Mines Corp		109
5,606		Commercial Metals Co		83
1,615		Compass Minerals International, Inc		121
7,232	*	Crown Holdings, Inc		266
2,235		Cytec Industries, Inc		154
567		Deltic Timber Corp		40
1,790		Domtar Corp		150
56,832		Dow Chemical Co		1,837
44,313		Du Pont (E.I.) de Nemours & Co		1,993
2,311		Eagle Materials, Inc		135
7,247		Eastman Chemical Co		493
12,249		Ecolab, Inc		881
174	*	Ferro Corp		1
2,562	*	Flotek Industries, Inc		31
6,346		FMC Corp		371
45,268		Freeport-McMoRan Copper & Gold, Inc (Class B)		1,548
954		FutureFuel Corp		11
2,908	*	General Moly, Inc		12
1,622		Georgia Gulf Corp		67
2,058		Glatfelter		36
2,943		Globe Specialty Metals, Inc		40
2,517	*e	Gold Reserve, Inc		8
1,426		Gold Resource Corp		22
1,121	*e	Golden Minerals Co		5
12,807	*e	Golden Star Resources Ltd		24
8,058	*	Graphic Packaging Holding Co		52
1,531		Greif, Inc (Class A)		68
2,421		H.B. Fuller Co		84
459		Hawkins, Inc		18
510		Haynes International, Inc		26
2,769	*	Headwaters, Inc		24
14,157	e	Hecla Mining Co		83
2,056	*	Horsehead Holding Corp		21
9,393		Huntsman Corp		149
1,126		Innophos Holdings, Inc		52
1,190		Innospec, Inc		41
3,944		International Flavors & Fragrances, Inc		262
20,651		International Paper Co		823
2,641		Intrepid Potash, Inc		56
620		Kaiser Aluminum Corp		38
2,023		Kapstone Paper and Packaging Corp		45
329		KMG Chemicals, Inc		6
1,077		Koppers Holdings, Inc		41
1,610	*	Kraton Polymers LLC		39
1,114	e	Kronos Worldwide, Inc		22
1,289	*	Landec Corp		12
6,361	*	Louisiana-Pacific Corp		123
901	*	LSB Industries, Inc		32

23

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
15,227		LyondellBasell Industries AF S.C.A	$	869
2,227	e	Martin Marietta Materials, Inc		210
10,533	*e	McEwen Mining, Inc		40
8,015		MeadWestvaco Corp		255
566		Metals USA Holdings Corp		10
3,984	*e	Midway Gold Corp		6
1,724		Minerals Technologies, Inc		69
3,207	*e	Molycorp, Inc		30
25,215		Monsanto Co		2,387
14,073		Mosaic Co		797
1,570		Myers Industries, Inc		24
1,075		Neenah Paper, Inc		31
426		NewMarket Corp		112
23,228		Newmont Mining Corp		1,079
1,121		Noranda Aluminium Holding Corp		7
14,897		Nucor Corp		643
3,909		Olin Corp		84
529		Olympic Steel, Inc		12
1,636	*	OM Group, Inc		36
2,250	*	Omnova Solutions, Inc		16
8,024	*	Owens-Illinois, Inc		171
4,762		Packaging Corp of America		183
5,999	*e	Paramount Gold and Silver Corp		14
4,328		PolyOne Corp		88
7,210		PPG Industries, Inc		976
14,050		Praxair, Inc		1,538
610		Quaker Chemical Corp		33
3,642		Reliance Steel & Aluminum Co		226
2,728	*e	Resolute Forest Products		36
1,196	*	Revett Minerals, Inc		3
3,169		Rock-Tenn Co (Class A)		222
3,120		Rockwood Holdings, Inc		154
2,652		Royal Gold, Inc		216
6,377		RPM International, Inc		187
1,496	*	RTI International Metals, Inc		41
1,183		Schnitzer Steel Industries, Inc (Class A)		36
1,524		Schweitzer-Mauduit International, Inc		59
2,024		Scotts Miracle-Gro Co (Class A)		89
8,412		Sealed Air Corp		147
2,432		Sensient Technologies Corp		87
4,071		Sherwin-Williams Co		626
5,648		Sigma-Aldrich Corp		416
2,380		Silgan Holdings, Inc		99
4,578		Sonoco Products Co		136
8,059		Southern Copper Corp (NY)		305
1,508	*	Spartech Corp		14
10,635		Steel Dynamics, Inc		146
834		Stepan Co		46
5,644	*	Stillwater Mining Co		72
2,858	*	SunCoke Energy, Inc		45
3,933	*	Tahoe Resources, Inc		72
1,109	*e	Texas Industries, Inc		57
1,281		Tredegar Corp		26
260	*	UFP Technologies, Inc		5
66	*	United States Lime & Minerals, Inc		3
6,927	e	United States Steel Corp		165
391	*	Universal Stainless & Alloy		14
2,645	*e	US Antimony Corp		5
910	e	US Silica Holdings Inc		15
4,475		Valspar Corp		279
3,459	*e	Vista Gold Corp		9
5,949		Vulcan Materials Co		310
2,588		Walter Energy, Inc		93
2,666		Wausau Paper Corp		23
893	e	Westlake Chemical Corp		71
297	*	WHX Corp		4
2,539		Worthington Industries, Inc		66
3,554	*	WR Grace & Co		239
1,145		Zep, Inc		17
1,635	*e	Zoltek Cos, Inc		13
		TOTAL MATERIALS		30,269

24

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
MEDIA - 3.6%
2,662	*	AMC Networks, Inc	$	132
1,425		Arbitron, Inc		67
4,724		Belo (A.H.) Corp (Class A)		36
10,515		Cablevision Systems Corp (Class A)		157
852	*	Carmike Cinemas, Inc		13
30,859		CBS Corp (Class B)		1,174
1,854	*	Central European Media Enterprises Ltd (Class A) Nasdaq		11
2,365	*	Charter Communications, Inc		180
5,586		Cinemark Holdings, Inc		145
2,051		Clear Channel Outdoor Holdings, Inc (Class A)		14
127,447		Comcast Corp (Class A)		4,764
1,802	*e	Crown Media Holdings, Inc (Class A)		3
1,191	*	Cumulus Media, Inc (Class A)		3
1,322	*e	Digital Generation, Inc		14
28,450	*	DIRECTV		1,427
12,010	*	Discovery Communications, Inc (Class A)		762
9,460		DISH Network Corp (Class A)		344
3,294	*e	DreamWorks Animation SKG, Inc (Class A)		55
1,252	*	Entercom Communications Corp (Class A)		9
2,637		Entravision Communications Corp (Class A)		4
1,802	*	EW Scripps Co (Class A)		19
354		Fisher Communications, Inc		10
11,396		Gannett Co, Inc		205
629	*	Global Sources Ltd		4
2,075		Harte-Hanks, Inc		12
21,335		Interpublic Group of Cos, Inc		235
2,263		John Wiley & Sons, Inc (Class A)		88
2,807	*	Journal Communications, Inc (Class A)		15
3,750	*	Lamar Advertising Co (Class A)		145
12,437	*	Liberty Global, Inc (Class A)		783
5,113	*	Liberty Interactive LLC		593
1,798	*	Lin TV Corp (Class A)		14
4,138	*e	Lions Gate Entertainment Corp		68
7,613	*	Live Nation, Inc		71
2,849	*	Madison Square Garden, Inc		126
1,522	*e	Martha Stewart Living Omnimedia, Inc (Class A)		4
3,219	*e	McClatchy Co (Class A)		11
13,221		McGraw-Hill Cos, Inc		723
1,288		MDC Partners, Inc		15
1,763	e	Meredith Corp		61
1,117		Morningstar, Inc		70
2,714		National CineMedia, Inc		38
6,951	*	New York Times Co (Class A)		59
98,693		News Corp (Class A)		2,521
542	*	Nexstar Broadcasting Group, Inc (Class A)		6
12,814		Omnicom Group, Inc		640
660		Outdoor Channel Holdings, Inc		5
3,876	*e	Pandora Media, Inc		36
490	*	ReachLocal, Inc		6
787	*	Reading International, Inc		5
4,340	e	Regal Entertainment Group (Class A)		61
475	*	Rentrak Corp		9
162		Saga Communications, Inc		8
1,378		Scholastic Corp		41
3,863		Scripps Networks Interactive (Class A)		224
3,111		Sinclair Broadcast Group, Inc (Class A)		39
178,607	e	Sirius XM Radio, Inc		516
17,452	e	Thomson Corp		507
14,846		Time Warner Cable, Inc		1,443
45,372		Time Warner, Inc		2,170
2,076	*e	Valassis Communications, Inc		54
98	e	Value Line, Inc		1
24,832		Viacom, Inc (Class B)		1,310
13,029	e	Virgin Media, Inc		479
84,815		Walt Disney Co		4,223
163		Washington Post Co (Class B)		60
1,281		World Wrestling Entertainment, Inc (Class A)		10
		TOTAL MEDIA		27,057

25

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 6.9%
1,983	*	Achillion Pharmaceuticals, Inc	$	16
2,044	*	Acorda Therapeutics, Inc		51
1,053	*e	Aegerion Pharmaceuticals, Inc		27
1,787	*	Affymax, Inc		34
4,200	*e	Affymetrix, Inc		13
1,108	*e	Agenus, Inc		5
16,312		Agilent Technologies, Inc		668
2,860	*	Akorn, Inc		38
9,333	*	Alexion Pharmaceuticals, Inc		876
5,952	*	Alkermes plc		110
14,350		Allergan, Inc		1,316
2,039	*	Alnylam Pharmaceuticals, Inc		37
1,109	*	AMAG Pharmaceuticals, Inc		16
36,706		Amgen, Inc		3,169
1,454	*	Amicus Therapeutics, Inc		4
1,022	*e	Ampio Pharmaceuticals, Inc		4
9,609	*e	Arena Pharmaceuticals, Inc		87
8,049	*	Ariad Pharmaceuticals, Inc		154
2,640	*	Arqule, Inc		7
3,660	*	Array Biopharma, Inc		14
2,656	*	Astex Pharmaceuticals		8
2,455	*	Auxilium Pharmaceuticals, Inc		45
6,354	*e	AVANIR Pharmaceuticals, Inc		17
1,870	*e	AVEO Pharmaceuticals, Inc		15
2,465	*e	BioCryst Pharmaceuticals, Inc		3
11,349	*	Biogen Idec, Inc		1,665
5,931	*	BioMarin Pharmaceuticals, Inc		292
983	*	Bio-Rad Laboratories, Inc (Class A)		103
215	*	Biospecifics Technologies Corp		3
1,108	*e	Biotime, Inc		3
79,612		Bristol-Myers Squibb Co		2,595
4,265	*	Bruker BioSciences Corp		65
1,890	*e	Cadence Pharmaceuticals, Inc		9
1,815	*	Cambrex Corp		21
21,028	*	Celgene Corp		1,655
2,900	*	Celldex Therapeutics, Inc		19
3,195	*	Cepheid, Inc		108
2,389	*	Charles River Laboratories International, Inc		90
669	*e	Clovis Oncology, Inc		11
442	*	Codexis, Inc		1
1,326	*e	Corcept Therapeutics, Inc		2
318	*	Cornerstone Therapeutics, Inc		2
2,667	*	Covance, Inc		154
3,083	*	Cubist Pharmaceuticals, Inc		130
3,574	*	Curis, Inc		12
2,389	*e	Cytori Therapeutics, Inc		7
7,690	*e	Dendreon Corp		41
2,984	*	Depomed, Inc		18
2,207	*e	Discovery Laboratories, Inc		5
4,970	*	Dyax Corp		17
5,402	*e	Dynavax Technologies Corp		15
48,568		Eli Lilly & Co		2,395
1,234	*	Emergent Biosolutions, Inc		20
5,765	*	Endo Pharmaceuticals Holdings, Inc		151
1,449	*	Endocyte, Inc		13
2,632		Enzon Pharmaceuticals, Inc		12
2,644	*	Exact Sciences Corp		28
6,457	*e	Exelixis, Inc		30
989	*	Fluidigm Corp		14
12,917	*	Forest Laboratories, Inc		456
512	*	Furiex Pharmaceuticals Inc		10
810	*e	Genomic Health, Inc		22
6,445	*	Geron Corp		9
35,711	*	Gilead Sciences, Inc		2,623
971	*	GTx, Inc		4
3,942	*	Halozyme Therapeutics, Inc		26
1,104	*	Harvard Bioscience, Inc		5
458		Hi-Tech Pharmacal Co, Inc		16
1,073	*e	Horizon Pharma, Inc		2

26

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
8,023	*	Hospira, Inc	$	251
3,653	*	Idenix Pharmaceuticals, Inc		18
5,845	*e	Illumina, Inc		325
1,963	*e	ImmunoCellular Therapeutics Ltd		4
3,568	*e	Immunogen, Inc		45
3,543	*e	Immunomedics, Inc		10
3,365	*	Impax Laboratories, Inc		69
4,807	*e	Incyte Corp		80
1,026	*	Infinity Pharmaceuticals, Inc		36
3,158	*e	InterMune, Inc		31
3,659	*	Ironwood Pharmaceuticals, Inc		41
5,202	*e	Isis Pharmaceuticals, Inc		54
1,109	*	Jazz Pharmaceuticals plc		59
129,991		Johnson & Johnson		9,112
2,721	*e	Keryx Biopharmaceuticals, Inc		7
832	*	Lannett Co, Inc		4
10,577	*	Lexicon Pharmaceuticals, Inc		23
8,438	*	Life Technologies Corp		414
925	*	Ligand Pharmaceuticals, Inc (Class B)		19
2,138	*	Luminex Corp		36
5,511	*	MannKind Corp		13
1,093	*e	MAP Pharmaceuticals, Inc		17
1,801		Maxygen, Inc		4
2,495	*	Medicines Co		60
3,516	*	Medivation, Inc		180
143,853		Merck & Co, Inc		5,889
720	*e	Merrimack Pharmaceuticals, Inc		4
1,482	*	Mettler-Toledo International, Inc		286
2,284	*	Momenta Pharmaceuticals, Inc		27
19,076	*	Mylan Laboratories, Inc		524
4,133	*	Myriad Genetics, Inc		113
5,532	*	Nektar Therapeutics		41
3,256	*	Neurocrine Biosciences, Inc		24
629	*e	NewLink Genetics Corp		8
4,336	*e	Novavax, Inc		8
4,176	*	NPS Pharmaceuticals, Inc		38
1,070	*	Obagi Medical Products, Inc		15
1,112	*e	Omeros Corp		6
511	*	OncoGenex Pharmaceutical, Inc		7
2,102	*e	Oncothyreon, Inc		4
3,107	*	Onyx Pharmaceuticals, Inc		235
4,791	*e	Opko Health, Inc		23
1,463	*e	Optimer Pharmaceuticals, Inc		13
2,988	*e	Orexigen Therapeutics, Inc		16
807	*e	Osiris Therapeutics, Inc		7
1,723	*	Pacific Biosciences of California, Inc		3
915	*e	Pacira Pharmaceuticals, Inc		16
1,792		Pain Therapeutics, Inc		5
2,917	*	Parexel International Corp		86
5,458	e	PDL BioPharma, Inc		38
5,182		PerkinElmer, Inc		164
4,034		Perrigo Co		420
354,372		Pfizer, Inc		8,888
2,485	*	Pharmacyclics, Inc		144
1,425	*	Pozen, Inc		7
1,419	*	Progenics Pharmaceuticals, Inc		4
11,425	*	Qiagen N.V. (NASDAQ)		207
2,696	e	Questcor Pharmaceuticals, Inc		72
2,377	*e	Raptor Pharmaceutical Corp		14
3,754	*	Regeneron Pharmaceuticals, Inc		642
1,493	*	Repligen Corp		9
714	*e	Repros Therapeutics, Inc		11
3,471	*	Rigel Pharmaceuticals, Inc		23
345	*	Sagent Pharmaceuticals		6
3,014	*	Salix Pharmaceuticals Ltd		122
2,157	*e	Sangamo Biosciences, Inc		13
2,882	*	Santarus, Inc		32
2,738	*	Sciclone Pharmaceuticals, Inc		12
4,880	*e	Seattle Genetics, Inc		113
4,993	*e	Sequenom, Inc		24
1,470	*	SIGA Technologies, Inc		4

27

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,652	e	Spectrum Pharmaceuticals, Inc	$	30
620	*	Sucampo Pharmaceuticals, Inc (Class A)		3
445	*	Synageva BioPharma Corp		21
2,003	*e	Synergy Pharmaceuticals, Inc		11
1,821	*e	Synta Pharmaceuticals Corp		16
1,257	*	Targacept, Inc		6
1,792		Techne Corp		122
2,889	*	Theravance, Inc		64
17,450		Thermo Electron Corp		1,113
764	*e	Threshold Pharmaceuticals, Inc		3
1,207	*e	Trius Therapeutics, Inc		6
2,600	*	United Therapeutics Corp		139
1,501	*	Vanda Pharmaceuticals, Inc		6
579	*e	Ventrus Biosciences, Inc		1
9,767	*	Vertex Pharmaceuticals, Inc		410
3,055	*	Vical, Inc		9
3,526	*	Viropharma, Inc		80
4,844	*e	Vivus, Inc		65
8,140		Warner Chilcott plc		98
4,270	*	Waters Corp		372
6,142	*	Watson Pharmaceuticals, Inc		528
1,508	*	Xenoport, Inc		12
3,261	*e	XOMA Corp		8
2,912	*e	ZIOPHARM Oncology, Inc		12
		TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		52,027
REAL ESTATE - 3.7%
2,117		Acadia Realty Trust		53
755		AG Mortgage Investment Trust		18
505		Agree Realty Corp		14
2,122	*	Alexander & Baldwin, Inc		62
104		Alexander’s, Inc		34
2,762		Alexandria Real Estate Equities, Inc		191
21,441		AMB Property Corp		782
1,470		American Assets Trust,Inc		41
3,566		American Campus Communities, Inc		165
16,723		American Capital Agency Corp		484
1,755		American Capital Mortgage, Inc		41
7,707		American Realty Capital Trust, Inc		89
18,677		American Tower Corp		1,443
47,329		Annaly Capital Management, Inc		664
6,519		Anworth Mortgage Asset Corp		38
6,369		Apartment Investment & Management Co (Class A)		172
867		Apollo Commercial Real Estate Finance, Inc		14
378		Ares Commercial Real Estate Corp		6
8,634		ARMOUR Residential REIT, Inc		56
2,185		Ashford Hospitality Trust, Inc		23
2,073		Associated Estates Realty Corp		33
454	*	AV Homes, Inc		6
5,461		AvalonBay Communities, Inc		740
7,506		BioMed Realty Trust, Inc		145
7,112		Boston Properties, Inc		753
7,051		Brandywine Realty Trust		86
3,765		BRE Properties, Inc (Class A)		191
3,896		Camden Property Trust		266
1,900		Campus Crest Communities, Inc		23
3,499		Capital Lease Funding, Inc		19
4,568		Capstead Mortgage Corp		52
7,851		CBL & Associates Properties, Inc		167
15,262	*	CBRE Group, Inc		304
2,712		Cedar Shopping Centers, Inc		14
464		Chatham Lodging Trust		7
1,642		Chesapeake Lodging Trust		34
43,123		Chimera Investment Corp		113
4,203		Colonial Properties Trust		90
1,674		Colony Financial, Inc		33
378		Consolidated-Tomoka Land Co		12
800		Coresite Realty		22
3,601		Corporate Office Properties Trust		90
4,773		Cousins Properties, Inc		40
2,905		CreXus Investment Corp		36

28

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
5,967		CubeSmart	$	87
6,010		CYS Investments, Inc		71
12,464		DCT Industrial Trust, Inc		81
10,697		DDR Corp		168
8,158		DiamondRock Hospitality Co		73
5,356		Digital Realty Trust, Inc		364
6,476		Douglas Emmett, Inc		151
12,782		Duke Realty Corp		177
2,984		DuPont Fabros Technology, Inc		72
2,653		Dynex Capital, Inc		25
1,377		EastGroup Properties, Inc		74
4,615		Education Realty Trust, Inc		49
2,472		Entertainment Properties Trust		114
2,004		Equity Lifestyle Properties, Inc		135
2,651		Equity One, Inc		56
14,607		Equity Residential		828
1,710		Essex Property Trust, Inc		251
1,621		Excel Trust, Inc		21
4,748		Extra Space Storage, Inc		173
3,147		Federal Realty Investment Trust		327
6,309	*	FelCor Lodging Trust, Inc		29
4,317	*	First Industrial Realty Trust, Inc		61
2,547		First Potomac Realty Trust		31
6,922	*	Forest City Enterprises, Inc (Class A)		112
1,790	*	Forestar Real Estate Group, Inc		31
3,639		Franklin Street Properties Corp		45
25,599		General Growth Properties, Inc		508
1,193		Getty Realty Corp		22
498		Gladstone Commercial Corp		9
6,781		Glimcher Realty Trust		75
1,811		Government Properties Income Trust		43
2,207	*	Gramercy Capital Corp		6
58		Gyrodyne Co of America, Inc		4
4,762		Hatteras Financial Corp		118
20,381		HCP, Inc		921
12,128		Health Care REIT, Inc		743
3,664		Healthcare Realty Trust, Inc		88
8,372		Hersha Hospitality Trust		42
3,786		Highwoods Properties, Inc		127
2,366		Home Properties, Inc		145
6,635		Hospitality Properties Trust		155
34,558		Host Marriott Corp		542
1,158	*	Howard Hughes Corp		85
4,076		HRPT Properties Trust		65
1,747		Hudson Pacific Properties		37
4,699		Inland Real Estate Corp		39
5,622		Invesco Mortgage Capital, Inc		111
3,940		Investors Real Estate Trust		34
4,086	*	iStar Financial, Inc		33
2,166		Jones Lang LaSalle, Inc		182
1,173		Kennedy-Wilson Holdings, Inc		16
3,326		Kilroy Realty Corp		158
19,779		Kimco Realty Corp		382
2,891		Kite Realty Group Trust		16
4,298		LaSalle Hotel Properties		109
6,009		Lexington Corporate Properties Trust		63
5,687		Liberty Property Trust		203
1,483		LTC Properties, Inc		52
6,443		Macerich Co		376
4,389		Mack-Cali Realty Corp		115
6,789		Medical Properties Trust, Inc		81
18,015		MFA Mortgage Investments, Inc		146
1,993		Mid-America Apartment Communities, Inc		129
2,597		Monmouth Real Estate Investment Corp (Class A)		27
1,100		National Health Investors, Inc		62
5,342		National Retail Properties, Inc		167
824		New York Mortgage Trust, Inc		5
3,670		NorthStar Realty Finance Corp		26
2,098		NRDC Acquisition Corp		27
5,124		Omega Healthcare Investors, Inc		122
567		One Liberty Properties, Inc		12
946		Parkway Properties, Inc		13

29

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,560		Pebblebrook Hotel Trust	$	59
2,924		Pennsylvania Real Estate Investment Trust		52
1,391		Pennymac Mortgage Investment Trust		35
8,735		Piedmont Office Realty Trust, Inc		158
7,839		Plum Creek Timber Co, Inc		348
2,631		Post Properties, Inc		131
2,094		Potlatch Corp		82
903		PS Business Parks, Inc		59
6,876		Public Storage, Inc		997
1,737		RAIT Investment Trust		10
1,967		Ramco-Gershenson Properties		26
5,944		Rayonier, Inc		308
2,360	*	Realogy Holdings Corp		99
5,513		Realty Income Corp		222
4,253		Redwood Trust, Inc		72
4,546		Regency Centers Corp		214
4,090		Resource Capital Corp		23
4,138		Retail Properties of America, Inc		50
5,176		RLJ Lodging Trust		100
1,067		Rouse Properties, Inc		18
1,532		Ryman Hospitality Properties		59
1,780		Sabra Healthcare REIT, Inc		39
330		Saul Centers, Inc		14
7,899		Senior Housing Properties Trust		187
14,685		Simon Property Group, Inc		2,322
4,148		SL Green Realty Corp		318
1,406		Sovran Self Storage, Inc		87
2,545	*e	St. Joe Co		59
1,183		STAG Industrial, Inc		21
5,639		Starwood Property Trust, Inc		129
8,848	*	Strategic Hotels & Resorts, Inc		57
1,510		Summit Hotel Properties, Inc		14
1,288		Sun Communities, Inc		51
6,003	*	Sunstone Hotel Investors, Inc		64
4,492		Tanger Factory Outlet Centers, Inc		154
2,937		Taubman Centers, Inc		231
790	*	Tejon Ranch Co		22
400		Terreno Realty Corp		6
1,552		Thomas Properties Group, Inc		8
10,384		Two Harbors Investment Corp		115
12,006		UDR, Inc		286
507		UMH Properties, Inc		5
575		Universal Health Realty Income Trust		29
1,407		Urstadt Biddle Properties, Inc (Class A)		28
14,038		Ventas, Inc		909
8,538		Vornado Realty Trust		684
3,217		Washington Real Estate Investment Trust		84
5,688		Weingarten Realty Investors		152
380		Western Asset Mortgage Capital Corp		8
26,107		Weyerhaeuser Co		726
490		Whitestone REIT		7
1,412		Winthrop Realty Trust		16
153	*e	Zillow, Inc		4
		TOTAL REAL ESTATE		27,671
RETAILING - 4.2%
1,264	*	1-800-FLOWERS.COM, Inc (Class A)		5
3,691		Aaron’s, Inc		104
3,975		Abercrombie & Fitch Co (Class A)		191
3,568		Advance Auto Parts, Inc		258
3,935	*	Aeropostale, Inc		51
17,145	*	Amazon.com, Inc		4,306
9,508		American Eagle Outfitters, Inc		195
580	*	America’s Car-Mart, Inc		24
2,306	*	Ann Taylor Stores Corp		78
1,365	*	Asbury Automotive Group, Inc		44
5,511	*	Ascena Retail Group, Inc		102
1,206	*	Audiovox Corp (Class A)		8
1,684	*	Autonation, Inc		67
1,789	*	Autozone, Inc		634
1,455	*e	Barnes & Noble, Inc		22

30

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,533		Bebe Stores, Inc	$	6
11,092	*	Bed Bath & Beyond, Inc		620
13,067		Best Buy Co, Inc		155
1,412		Big 5 Sporting Goods Corp		19
2,772	*	Big Lots, Inc		79
672	*e	Blue Nile, Inc		26
578	*	Body Central Corp		6
447		Bon-Ton Stores, Inc		5
2,300		Brown Shoe Co, Inc		42
1,313	e	Buckle, Inc		59
2,257	*	Cabela’s, Inc		94
10,635	*	Carmax, Inc		399
2,260	*	Casual Male Retail Group, Inc		9
966		Cato Corp (Class A)		27
8,131		Chico’s FAS, Inc		150
1,035	*	Children’s Place Retail Stores, Inc		46
836	*	Citi Trends, Inc		12
679	*e	Conn’s, Inc		21
638		Core-Mark Holding Co, Inc		30
476		Destination Maternity Corp		10
4,508		Dick’s Sporting Goods, Inc		205
1,493		Dillard’s, Inc (Class A)		125
8,650	*	Dollar General Corp		381
10,946	*	Dollar Tree, Inc		444
1,596		DSW, Inc (Class A)		105
4,250		Expedia, Inc		261
4,341	*	Express Parent LLC		66
4,474		Family Dollar Stores, Inc		284
2,617		Finish Line, Inc (Class A)		50
380	*e	Five Below, Inc		12
7,370		Foot Locker, Inc		237
1,694	*e	Francesca’s Holdings Corp		44
1,790		Fred’s, Inc (Class A)		24
6,254	e	GameStop Corp (Class A)		157
13,938		Gap, Inc		433
1,189	*	Genesco, Inc		65
7,329		Genuine Parts Co		466
3,592		GNC Holdings, Inc		120
410	*	Gordmans Stores, Inc		6
1,038		Group 1 Automotive, Inc		64
2,132	*e	Groupon, Inc		10
3,144		Guess?, Inc		77
1,232		Haverty Furniture Cos, Inc		20
892	*e	HHgregg, Inc		6
1,197	*	Hibbett Sports, Inc		63
72,630		Home Depot, Inc		4,492
1,550	*e	HomeAway, Inc		34
2,222		Hot Topic, Inc		21
1,773		HSN, Inc		98
7,757	e	JC Penney Co, Inc		153
1,086	*	JOS A Bank Clothiers, Inc		46
891	*	Kirkland’s, Inc		9
11,623		Kohl’s Corp		500
25,849	*	Liberty Media Holding Corp (Interactive A)		509
1,809	*	Liberty Ventures		123
11,391		Limited Brands, Inc		536
1,111		Lithia Motors, Inc (Class A)		42
14,256	*	LKQ Corp		301
53,015		Lowe’s Companies, Inc		1,883
1,342	*	Lumber Liquidators, Inc		71
19,760		Macy’s, Inc		771
1,129	*	MarineMax, Inc		10
534	*e	Mattress Firm Holding Corp		13
2,482		Men’s Wearhouse, Inc		77
1,144	e	Monro Muffler, Inc		40
2,655	*e	NetFlix, Inc		246
888	*	New York & Co, Inc		3
7,512		Nordstrom, Inc		402
1,665		Nutri/System, Inc		14
6,966	*	Office Depot, Inc		23
943		OfficeMax, Inc		9

31

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,309	*	Orbitz Worldwide, Inc	$	4
5,526	*	O’Reilly Automotive, Inc		494
840	*	Overstock.com, Inc		12
2,064		Penske Auto Group, Inc		62
2,583		PEP Boys - Manny Moe & Jack		25
1,182		PetMed Express, Inc		13
4,950		Petsmart, Inc		338
4,168		Pier 1 Imports, Inc		83
2,359	*	Priceline.com, Inc		1,465
5,358	e	RadioShack Corp		11
2,805		Rent-A-Center, Inc		96
10,702		Ross Stores, Inc		580
769	*	Rue21, Inc		22
5,305	*e	Saks, Inc		56
7,516	*	Sally Beauty Holdings, Inc		177
1,774	*e	Sears Holdings Corp		73
2,283	*	Select Comfort Corp		60
775		Shoe Carnival, Inc		16
1,725	*	Shutterfly, Inc		52
3,767		Signet Jewelers Ltd		201
2,027		Sonic Automotive, Inc (Class A)		42
210	*	Sourceforge, Inc		3
1,474		Stage Stores, Inc		37
33,467		Staples, Inc		382
1,440		Stein Mart, Inc		11
461		Systemax, Inc		4
31,118		Target Corp		1,841
448	*e	Teavana Holdings, Inc		7
5,956		Tiffany & Co		342
432	*	Tilly’s, Inc		6
34,792		TJX Companies, Inc		1,477
3,499		Tractor Supply Co		309
3,967	*	TripAdvisor, Inc		166
1,789	*	Tuesday Morning Corp		11
3,056		Ulta Salon Cosmetics & Fragrance, Inc		300
5,178	*	Urban Outfitters, Inc		204
658	*	US Auto Parts Network, Inc		1
1,052	*e	Vitacost.com, Inc		7
1,434	*	Vitamin Shoppe, Inc		82
640	*	West Marine, Inc		7
5,043	*	Wet Seal, Inc (Class A)		14
1,736	*	WEX, Inc		131
4,298		Williams-Sonoma, Inc		188
133		Winmark Corp		8
1,062	*e	Zumiez, Inc		21
		TOTAL RETAILING		31,496
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.1%
2,226	*	Advanced Energy Industries, Inc		31
23,029	*e	Advanced Micro Devices, Inc		55
844	*	Alpha & Omega Semiconductor Ltd		7
15,516		Altera Corp		534
3,904	*e	Amkor Technology, Inc		17
3,097	*	Anadigics, Inc		8
13,788		Analog Devices, Inc		580
60,527		Applied Materials, Inc		692
3,650	*	Applied Micro Circuits Corp		31
19,968	*	Atmel Corp		131
1,604	*	ATMI, Inc		33
11,387		Avago Technologies Ltd		360
5,359	*	Axcelis Technologies, Inc		7
1,469	*	AXT, Inc		4
26,114		Broadcom Corp (Class A)		867
3,308		Brooks Automation, Inc		27
806		Cabot Microelectronics Corp		29
2,448	*	Cavium Networks, Inc		76
1,230	*	Ceva, Inc		19
2,833	*	Cirrus Logic, Inc		82
1,302		Cohu, Inc		14
5,075	*e	Cree, Inc		172
1,500	*	Cymer, Inc		136

32

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
7,650		Cypress Semiconductor Corp	$	83
1,921	*	Diodes, Inc		33
1,224	*	DSP Group, Inc		7
6,714	*	Entegris, Inc		62
4,315	*	Entropic Communications, Inc		23
2,444	*	Exar Corp		22
6,197	*	Fairchild Semiconductor International, Inc		89
2,676	*e	First Solar, Inc		83
2,618	*	Formfactor, Inc		12
2,182	*e	Freescale Semiconductor Holdings Ltd		24
1,030	*	GSI Technology, Inc		6
3,453	*e	GT Solar International, Inc		10
1,461	*	Hittite Microwave Corp		91
1,024	*	Inphi Corp		10
6,477	*	Integrated Device Technology, Inc		47
1,216	*	Integrated Silicon Solution, Inc		11
238,579		Intel Corp		4,922
643	*	Intermolecular, Inc		6
3,528	*	International Rectifier Corp		63
6,580		Intersil Corp (Class A)		55
1,231		IXYS Corp		11
7,718		Kla-Tencor Corp		369
4,206	*	Kopin Corp		14
8,767	*	Lam Research Corp		317
5,950	*	Lattice Semiconductor Corp		24
11,064		Linear Technology Corp		379
27,928	*	LSI Logic Corp		198
2,408	*	LTX-Credence Corp		16
282	*	MA-COM Technology Solutions		4
22,731		Marvell Technology Group Ltd		165
2,801	*	Mattson Technology, Inc		2
13,778		Maxim Integrated Products, Inc		405
383	*	MaxLinear, Inc		2
5,052	*	MEMC Electronic Materials, Inc		16
2,455		Micrel, Inc		23
9,163		Microchip Technology, Inc		299
42,944	*	Micron Technology, Inc		273
4,543	*	Microsemi Corp		96
1,664	*e	Mindspeed Technologies, Inc		8
2,847	*	MIPS Technologies, Inc		22
2,658		MKS Instruments, Inc		68
1,520		Monolithic Power Systems, Inc		34
1,391	*	MoSys, Inc		5
1,014	*	Nanometrics, Inc		15
1,019	*	NeoPhotonics Corp Ltd		6
258	*	NVE Corp		14
29,569		Nvidia Corp		363
2,767	*	Omnivision Technologies, Inc		39
22,048	*	ON Semiconductor Corp		155
1,181	*	PDF Solutions, Inc		16
1,447	*	Pericom Semiconductor Corp		12
2,703	*	Photronics, Inc		16
1,628	*	PLX Technology, Inc		6
11,786	*	PMC - Sierra, Inc		61
1,292		Power Integrations, Inc		43
5,356	*	Rambus, Inc		26
13,977	*	RF Micro Devices, Inc		63
782	*	Rubicon Technology, Inc		5
1,464	*	Rudolph Technologies, Inc		20
3,192	*	Semtech Corp		92
1,525	*	Sigma Designs, Inc		8
4,055	*	Silicon Image, Inc		20
1,768	*	Silicon Laboratories, Inc		74
8,707	*	Skyworks Solutions, Inc		177
2,527	*	Spansion, Inc		35
1,361	*e	STR Holdings, Inc		3
2,241	*	SunPower Corp		13
493		Supertex, Inc		9
9,372	*	Teradyne, Inc		158
2,769		Tessera Technologies, Inc		45
53,758		Texas Instruments, Inc		1,663

33

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
8,183	*	Triquint Semiconductor, Inc	$	40
928	*	Ultra Clean Holdings		5
1,279	*	Ultratech, Inc		48
1,886	*	Veeco Instruments, Inc		56
1,235	*	Volterra Semiconductor Corp		21
12,413		Xilinx, Inc		446
		TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		16,094
SOFTWARE & SERVICES - 9.3%
2,523	*	Accelrys, Inc		23
30,310		Accenture plc		2,016
1,925	*	ACI Worldwide, Inc		84
1,874	*e	Active Network, Inc		9
19,562		Activision Blizzard, Inc		208
2,448	*	Actuate Corp		14
3,603	*	Acxiom Corp		63
23,471	*	Adobe Systems, Inc		884
1,656	*	Advent Software, Inc		35
8,306	*	Akamai Technologies, Inc		340
2,359	*	Alliance Data Systems Corp		341
7,726		Amdocs Ltd		263
764		American Software, Inc (Class A)		6
1,747	*e	Angie’s List, Inc		21
4,500	*	Ansys, Inc		303
4,551		AOL, Inc		135
4,286	*	Aspen Technology, Inc		118
11,143	*	Autodesk, Inc		394
22,962		Automatic Data Processing, Inc		1,309
2,248	*e	Bankrate, Inc		28
443	*	Bazaarvoice, Inc		4
2,369		Blackbaud, Inc		54
2,218	*	Blucora, Inc		35
7,419	*	BMC Software, Inc		294
1,196		Booz Allen Hamilton Holding Co		17
1,713	*	Bottomline Technologies, Inc		45
273	*	Brightcove, Inc		2
5,554		Broadridge Financial Solutions, Inc		127
1,345	*e	BroadSoft, Inc		49
16,656		CA, Inc		366
966	*	CACI International, Inc (Class A)		53
13,010	*	Cadence Design Systems, Inc		176
1,555	*e	Callidus Software, Inc		7
540	*e	Carbonite, Inc		5
2,159	*	Cardtronics, Inc		51
480		Cass Information Systems, Inc		20
3,700	*	Ciber, Inc		12
8,787	*	Citrix Systems, Inc		578
643	*m	Clinical Data, Inc		1
14,383	*	Cognizant Technology Solutions Corp (Class A)		1,065
2,159	*	Commvault Systems, Inc		150
7,554		Computer Sciences Corp		303
760	*	Computer Task Group, Inc		14
9,466	*	Compuware Corp		103
1,622	*	comScore, Inc		22
1,059	*	Comverse, Inc		30
2,256	*e	Concur Technologies, Inc		152
1,503	*e	Constant Contact, Inc		21
5,243		Convergys Corp		86
1,648	*	Cornerstone OnDemand, Inc		49
1,288	*	CoStar Group, Inc		115
1,795	*	CSG Systems International, Inc		33
2,053	*	DealerTrack Holdings, Inc		59
1,448	*e	Demand Media, Inc		13
327	*	Demandware, Inc		9
2,464	*	Dice Holdings, Inc		23
2,001	*	Digital River, Inc		29
335		DMRC Corp		7
1,423		DST Systems, Inc		86
5,728		Earthlink, Inc		37
54,608	*	eBay, Inc		2,786

34

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,521	e	Ebix, Inc	$	24
15,461	*	Electronic Arts, Inc		225
1,070	*	Ellie Mae, Inc		30
993	*	Envestnet, Inc		14
1,587		EPIQ Systems, Inc		20
206		ePlus, Inc		9
2,338	*	Equinix, Inc		482
2,804	*	Euronet Worldwide, Inc		66
465	*	ExactTarget, Inc		9
1,144	*	ExlService Holdings, Inc		30
19,789	*	Facebook, Inc		527
2,179		Factset Research Systems, Inc		192
1,607		Fair Isaac Corp		68
2,479	*	FalconStor Software, Inc		6
11,866		Fidelity National Information Services, Inc		413
4,265	*	First American Corp		115
6,423	*	Fiserv, Inc		508
2,362	*	FleetCor Technologies, Inc		127
471		Forrester Research, Inc		13
6,352	*	Fortinet, Inc		134
4,427	*	Gartner, Inc		204
6,359		Genpact Ltd		99
1,221	*em	Gerber Scientific, Inc		0	^
2,712	*	Global Cash Access, Inc		21
4,051		Global Payments, Inc		184
2,157	*e	Glu Mobile, Inc		5
12,290	*	Google, Inc (Class A)		8,718
680	*	Guidance Software, Inc		8
937	*	Guidewire Software, Inc		28
1,547		Hackett Group, Inc		7
1,893		Heartland Payment Systems, Inc		56
1,560	*e	Higher One Holdings, Inc		16
3,483		IAC/InterActiveCorp		165
1,449	*	iGate Corp		23
468	*	Imperva, Inc		15
379	*	Infoblox, Inc		7
5,344	*	Informatica Corp		162
1,066	*	Innodata Isogen, Inc		4
803	*	Interactive Intelligence, Inc		27
3,256	*	Internap Network Services Corp		23
51,598		International Business Machines Corp		9,884
13,696		Intuit, Inc		815
2,611	*	Ipass, Inc		5
2,389		j2 Global, Inc		73
3,917		Jack Henry & Associates, Inc		154
950	*	Jive Software, Inc		14
941		Keynote Systems, Inc		13
1,667	*	Knot, Inc		15
4,117		Lender Processing Services, Inc		101
3,363	*e	Limelight Networks, Inc		7
3,007	*	LinkedIn Corp		345
3,304	*	Lionbridge Technologies		13
1,143	*	Liquidity Services, Inc		47
2,686	*	Liveperson, Inc		35
1,024	*	LogMeIn, Inc		23
716	*e	magicJack VocalTec Ltd		13
738	*	Manhattan Associates, Inc		45
1,171	e	Mantech International Corp (Class A)		30
1,311		Marchex, Inc (Class B)		5
1,092	*	Market Leader, Inc		7
5,138		Mastercard, Inc (Class A)		2,524
1,366		MAXIMUS, Inc		86
4,392	*	Mentor Graphics Corp		75
3,908	*	Micros Systems, Inc		166
357,282		Microsoft Corp		9,550
425	*	MicroStrategy, Inc (Class A)		40
528	*e	Millennial Media, Inc		7
2,352	*	ModusLink Global Solutions, Inc		7
1,065	*	MoneyGram International, Inc		14
1,800		Monotype Imaging Holdings, Inc		29
4,617	*	Monster Worldwide, Inc		26

35

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,146	*	Move, Inc	$	16
1,792	*	Netscout Systems, Inc		47
1,519	*	NetSuite, Inc		102
3,278	*	NeuStar, Inc (Class A)		137
2,186		NIC, Inc		36
11,238	*	Nuance Communications, Inc		251
1,193	*e	OpenTable, Inc		58
181,436		Oracle Corp		6,045
5,816	*	Parametric Technology Corp		131
15,308		Paychex, Inc		477
792	e	Pegasystems, Inc		18
1,252	*	Perficient, Inc		15
603	*	Pervasive Software, Inc		5
958	*	PRG-Schultz International, Inc		6
3,045	*	Progress Software Corp		64
289	*	Proofpoint, Inc		4
1,099	*	PROS Holdings, Inc		20
400		QAD, Inc (Class A)		6
4,136	*	QLIK Technologies, Inc		90
1,192	*	QuinStreet, Inc		8
5,046	*	Rackspace Hosting, Inc		375
1,085	*	RealNetworks, Inc		8
1,540	*e	RealPage, Inc		33
9,117	*	Red Hat, Inc		483
1,734	*	Responsys, Inc		10
560	*	Rosetta Stone, Inc		7
5,389	*	Rovi Corp		83
1,356	*	Saba Software, Inc		12
13,809		SAIC, Inc		156
6,598	*	Salesforce.com, Inc		1,109
5,190	*	Sapient Corp		55
876	*	Sciquest, Inc		14
1,446	*	Seachange International, Inc		14
500	*	ServiceNow, Inc		15
2,425	*e	ServiceSource International LLC		14
2,993	*	SolarWinds, Inc		157
3,368		Solera Holdings, Inc		180
1,445	*	Sourcefire, Inc		68
420	*	Splunk, Inc		12
510	*	SPS Commerce, Inc		19
1,635	*	SS&C Technologies Holdings, Inc		38
510	*	Stamps.com, Inc		13
2,697	*	SupportSoft, Inc		11
34,007	*	Symantec Corp		640
326	*e	Synacor, Inc		2
1,334	*	Synchronoss Technologies, Inc		28
6,909	*	Synopsys, Inc		220
744		Syntel, Inc		40
1,633	*	TA Indigo Holding Corp		10
3,743	*	Take-Two Interactive Software, Inc		41
1,464	*	Tangoe, Inc		17
598	*	TechTarget, Inc		3
834	*	TeleNav, Inc		7
757	*	TeleTech Holdings, Inc		13
7,959	*	Teradata Corp		493
8,011	*	TIBCO Software, Inc		176
5,735	*	TiVo, Inc		71
1,534	*	TNS, Inc		32
7,618		Total System Services, Inc		163
285	*	Travelzoo, Inc		5
1,326	*	Tyler Technologies, Inc		64
1,163	*	Ultimate Software Group, Inc		110
2,353	*	Unisys Corp		41
4,557		United Online, Inc		25
4,315	*	Unwired Planet, Inc		5
3,937	*	Valueclick, Inc		76
1,909	*	Vantiv, Inc		39
1,577	*	Vasco Data Security International		13
5,078	*	VeriFone Systems, Inc		151
1,073	*	Verint Systems, Inc		31
7,523	*	VeriSign, Inc		292

36

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,063	*e	VirnetX Holding Corp	$	60
620	*	Virtusa Corp		10
24,776		Visa, Inc (Class A)		3,756
1,682	*e	VistaPrint Ltd		55
4,280	*	VMware, Inc (Class A)		403
792	*	Vocus, Inc		14
2,248	*	WebMD Health Corp (Class A)		32
1,434	*	Websense, Inc		22
1,494	*	Website Pros, Inc		22
28,866		Western Union Co		393
1,340	*	Workday, Inc		73
57,742	*	Yahoo!, Inc		1,149
409	*e	Yelp, Inc		8
3,311	*	Zix Corp		9
5,350	*	Zynga, Inc		13
		TOTAL SOFTWARE & SERVICES		69,883
TECHNOLOGY HARDWARE & EQUIPMENT - 6.6%
2,135	*e	3D Systems Corp		114
2,645	*	Acme Packet, Inc		58
3,005	e	Adtran, Inc		59
1,334	*	Agilysys, Inc		11
7,535		Amphenol Corp (Class A)		487
1,061	*	Anaren, Inc		21
1,193		Anixter International, Inc		76
44,270		Apple, Inc		23,597
5,392	*	Arris Group, Inc		81
5,381	*	Arrow Electronics, Inc		205
5,445	*	Aruba Networks, Inc		113
308	*e	Audience, Inc		3
1,355	*	Avid Technology, Inc		10
6,883	*	Avnet, Inc		211
2,526		AVX Corp		27
995	*	AX Holding Corp		7
779		Badger Meter, Inc		37
674		Bel Fuse, Inc (Class B)		13
2,053	*	Benchmark Electronics, Inc		34
973		Black Box Corp		24
1,815	*	Bookham, Inc		3
22,280	*	Brocade Communications Systems, Inc		119
1,369	*	CalAmp Corp		11
1,907	*	Calix Networks, Inc		15
2,124	*	Checkpoint Systems, Inc		23
4,899	*	Ciena Corp		77
254,235		Cisco Systems, Inc		4,996
2,099		Cognex Corp		77
1,087		Coherent, Inc		55
997		Comtech Telecommunications Corp		25
10,597	*	Comverse Technology, Inc		41
71,875		Corning, Inc		907
1,943	*	Cray, Inc		31
1,799		CTS Corp		19
2,087		Daktronics, Inc		23
708	*	Datalink Corp		6
69,665		Dell, Inc		706
3,067		Diebold, Inc		94
1,490	*	Digi International, Inc		14
2,450	e	Dolby Laboratories, Inc (Class A)		72
1,102	*	DTS, Inc		18
1,837	*	Echelon Corp		4
1,973	*	EchoStar Corp (Class A)		67
1,000		Electro Rent Corp		15
1,450		Electro Scientific Industries, Inc		14
2,122	*	Electronics for Imaging, Inc		40
99,373	*	EMC Corp		2,514
3,637	*	Emulex Corp		27
4,537	*	Extreme Networks, Inc		16
3,679	*	F5 Networks, Inc		357
1,026	*	Fabrinet		13
910	*	FARO Technologies, Inc		32
1,923		FEI Co		107

37

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,415	*	Finisar Corp	$	72
7,393		Flir Systems, Inc		165
2,588	*e	Fusion-io, Inc		59
1,197	*	Globecomm Systems, Inc		14
1,328	*	GSI Group, Inc		11
5,307	*	Harmonic, Inc		27
5,292		Harris Corp		259
3,340	*	Harris Stratex Networks, Inc (Class A)		11
94,006		Hewlett-Packard Co		1,340
1,552	*	Imation Corp		7
1,615	*	Immersion Corp		11
5,305	*e	Infinera Corp		31
7,086	*	Ingram Micro, Inc (Class A)		120
2,496	*	Insight Enterprises, Inc		43
2,201	e	InterDigital, Inc		90
2,592	*	Intermec, Inc		26
1,163	*	Intevac, Inc		5
1,784	*e	InvenSense, Inc		20
1,555	e	IPG Photonics Corp		104
2,131	*	Itron, Inc		95
1,708	*	Ixia		29
8,999		Jabil Circuit, Inc		174
11,409	*	JDS Uniphase Corp		154
24,858	*	Juniper Networks, Inc		489
2,177	*	Kemet Corp		11
758	*	KVH Industries, Inc		11
2,911	e	Lexmark International, Inc (Class A)		67
1,051		Littelfuse, Inc		65
522		Loral Space & Communications, Inc		29
1,385	*e	Maxwell Technologies, Inc		11
742	*	Measurement Specialties, Inc		25
1,540	*	Mercury Computer Systems, Inc		14
126		Mesa Laboratories, Inc		6
2,035		Methode Electronics, Inc		20
6,577	e	Molex, Inc		180
13,804		Motorola, Inc		769
860		MTS Systems Corp		44
555	*	Multi-Fineline Electronix, Inc		11
4,011		National Instruments Corp		104
7,727	*	NCR Corp		197
1,120	*e	Neonode, Inc		5
17,128	*	NetApp, Inc		575
1,861	*	Netgear, Inc		73
2,159	*	Newport Corp		29
496	*	Numerex Corp		7
2,560	*e	OCZ Technology Group, Inc		5
1,210	*	Oplink Communications, Inc		19
970	*	OSI Systems, Inc		62
450	*e	Palo Alto Networks, Inc		24
1,164		Park Electrochemical Corp		30
3,576	*e	Parkervision, Inc		7
143		PC Connection, Inc		2
850		PC-Tel, Inc		6
2,022		Plantronics, Inc		75
1,613	*	Plexus Corp		42
8,460	*	Polycom, Inc		88
3,047	*e	Power-One, Inc		13
950	*	Procera Networks, Inc		18
4,711	*	QLogic Corp		46
81,033		Qualcomm, Inc		5,026
11,444	*e	Quantum Corp		14
1,782	*e	Rackable Systems, Inc		18
1,200	*	Radisys Corp		4
1,970	*e	RealD, Inc		22
717		Richardson Electronics Ltd		8
7,065	*	Riverbed Technology, Inc		139
1,445	*	Rofin-Sinar Technologies, Inc		31
790	*	Rogers Corp		39
11,574	*	SanDisk Corp		504
4,084	*	Sanmina Corp		45
930	*	Scansource, Inc		30

38

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,605	*	ShoreTel, Inc	$	11
11,025	*	Sonus Networks, Inc		19
2,145	*	STEC, Inc		11
954	*	Stratasys Ltd		76
1,355	*	Super Micro Computer, Inc		14
1,033		Sycamore Networks, Inc		2
2,360	*	Symmetricom, Inc		14
1,327	*	Synaptics, Inc		40
1,272	*	SYNNEX Corp		44
1,618	*	Tech Data Corp		74
18,322		Tellabs, Inc		42
824		Telular Corp		8
247		Tessco Technologies, Inc		5
5,900	*	Trimble Navigation Ltd		353
2,608	*	TTM Technologies, Inc		24
484	e	Ubiquiti Networks, Inc		6
1,939	*e	Universal Display Corp		50
1,758	*e	Viasat, Inc		68
128	*	Viasystems Group, Inc		2
5,324	*	Vishay Intertechnology, Inc		57
654	*	Vishay Precision Group, Inc		9
2,690	*	Westell Technologies, Inc		5
10,521		Western Digital Corp		447
60,365		Xerox Corp		412
2,509	*	Zebra Technologies Corp (Class A)		99
1,176	*	Zygo Corp		18
		TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		49,562
TELECOMMUNICATION SERVICES - 2.7%
3,067	*	8x8, Inc		23
277,511		AT&T, Inc		9,355
490		Atlantic Tele-Network, Inc		18
769	*e	Boingo Wireless, Inc		6
662	*	Cbeyond Communications, Inc		6
29,915		CenturyTel, Inc		1,170
10,048	*	Cincinnati Bell, Inc		55
7,934	*	Clearwire Corp (Class A)		23
2,389		Cogent Communications Group, Inc		54
1,438		Consolidated Communications Holdings, Inc		23
13,874	*	Crown Castle International Corp		1,001
1,092	*e	Fairpoint Communications, Inc		9
49,615	e	Frontier Communications Corp		212
2,090	*	General Communication, Inc (Class A)		20
705		HickoryTech Corp		7
609		IDT Corp (Class B)		6
1,613	*	inContact, Inc		8
2,276	*	Iridium Communications, Inc		15
3,287	*e	Leap Wireless International, Inc		22
7,503	*	Level 3 Communications, Inc		173
757		Lumos Networks Corp		8
14,039	*	MetroPCS Communications, Inc		140
1,751		Neutral Tandem, Inc		4
6,450	*e	NII Holdings, Inc (Class B)		46
757		NTELOS Holdings Corp		10
1,760	*	Orbcomm, Inc		7
3,214	*	Premiere Global Services, Inc		31
586		Primus Telecommunications Group, Inc		6
5,889	*	SBA Communications Corp (Class A)		418
854		Shenandoah Telecom Co		13
143,021	*	Sprint Nextel Corp		811
4,484		Telephone & Data Systems, Inc		99
1,746	*e	Towerstream Corp		6
6,744	*	tw telecom inc (Class A)		172
432	*	US Cellular Corp		15
1,177		USA Mobility, Inc		14
134,344		Verizon Communications, Inc		5,813
7,062	*	Vonage Holdings Corp		17
28,704	e	Windstream Corp		238
		TOTAL TELECOMMUNICATION SERVICES		20,074

39

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
TRANSPORTATION - 1.8%
2,669	*	Air Transport Services Group, Inc	$	11
3,462	*	Alaska Air Group, Inc		149
511		Allegiant Travel Co		37
407		Amerco, Inc		52
1,342		Arkansas Best Corp		13
1,336	*	Atlas Air Worldwide Holdings, Inc		59
4,223	*	Avis Budget Group, Inc		84
988		Celadon Group, Inc		18
7,902		CH Robinson Worldwide, Inc		500
2,731		Con-Way, Inc		76
1,607		Copa Holdings S.A. (Class A)		160
49,446		CSX Corp		976
40,865	*	Delta Air Lines, Inc		485
539	*	Echo Global Logistics, Inc		10
10,325		Expeditors International of Washington, Inc		408
15,019		FedEx Corp		1,378
1,526		Forward Air Corp		53
1,322	*e	Genco Shipping & Trading Ltd		5
1,775	*	Genesee & Wyoming, Inc (Class A)		135
2,405	*	Hawaiian Holdings, Inc		16
1,514		Heartland Express, Inc		20
11,277	*	Hertz Global Holdings, Inc		183
1,468	*	Hub Group, Inc (Class A)		49
357		International Shipholding Corp		6
4,019		J.B. Hunt Transport Services, Inc		240
9,209	*e	JetBlue Airways Corp		53
5,349		Kansas City Southern Industries, Inc		447
2,711	*	Kirby Corp		168
3,018		Knight Transportation, Inc		44
2,283		Landstar System, Inc		120
232		Marten Transport Ltd		4
2,122		Matson, Inc		52
15,238		Norfolk Southern Corp		942
3,307	*	Old Dominion Freight Line		113
2,338	*	Pacer International, Inc		9
421	*	Park-Ohio Holdings Corp		9
309	*	Patriot Transportation Holding, Inc		9
748	*	Quality Distribution, Inc		4
859	*e	Rand Logistics, Inc		6
2,007	*	Republic Airways Holdings, Inc		11
437	*	Roadrunner Transportation Services Holdings, Inc		8
2,596		Ryder System, Inc		130
900	*	Saia, Inc		21
1,535		Skywest, Inc		19
37,318		Southwest Airlines Co		382
1,243	*	Spirit Airlines, Inc		22
2,248	*	Swift Transportation Co, Inc		20
16,141	*	UAL Corp		377
22,553		Union Pacific Corp		2,835
34,348		United Parcel Service, Inc (Class B)		2,532
200		Universal Truckload Services, Inc		4
7,760	*	US Airways Group, Inc		105
5,030		UTI Worldwide, Inc		67
2,203		Werner Enterprises, Inc		48
842	*e	XPO Logistics, Inc		15
512	*e	Zipcar, Inc		4
		TOTAL TRANSPORTATION		13,703
UTILITIES - 3.4%
29,654		AES Corp		317
5,564		AGL Resources, Inc		222
1,847		Allete, Inc		76
5,249		Alliant Energy Corp		231
12,180		Ameren Corp		374
23,007		American Electric Power Co, Inc		982
523		American States Water Co		25
8,035		American Water Works Co, Inc		298
6,719		Aqua America, Inc		171

40

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
366		Artesian Resources Corp	$	8
5,498	e	Atlantic Power Corp		63
4,376		Atmos Energy Corp		154
2,915		Avista Corp		70
2,076		Black Hills Corp		75
727	*e	Cadiz, Inc		6
2,026		California Water Service Group		37
18,338	*	Calpine Corp		332
19,874		Centerpoint Energy, Inc		383
489		CH Energy Group, Inc		32
551		Chesapeake Utilities Corp		25
2,955		Cleco Corp		118
12,756		CMS Energy Corp		311
518		Connecticut Water Service, Inc		15
13,865		Consolidated Edison, Inc		770
892		Consolidated Water Co, Inc		7
339		Delta Natural Gas Co, Inc		7
26,970		Dominion Resources, Inc		1,397
8,000		DTE Energy Co		480
33,265		Duke Energy Corp		2,122
15,196		Edison International		687
1,646		El Paso Electric Co		53
1,386		Empire District Electric Co		28
8,297		Entergy Corp		529
40,179		Exelon Corp		1,195
19,836		FirstEnergy Corp		828
609		Genie Energy Ltd		4
6,564		Great Plains Energy, Inc		133
4,806		Hawaiian Electric Industries, Inc		121
2,426		Idacorp, Inc		105
3,799		Integrys Energy Group, Inc		198
2,482		ITC Holdings Corp		191
1,170		Laclede Group, Inc		45
9,189		MDU Resources Group, Inc		195
1,117		MGE Energy, Inc		57
813		Middlesex Water Co		16
3,522		National Fuel Gas Co		179
2,008		New Jersey Resources Corp		80
19,566		NextEra Energy, Inc		1,354
13,829		NiSource, Inc		344
14,777		Northeast Utilities		578
1,299		Northwest Natural Gas Co		57
1,761		NorthWestern Corp		61
15,487		NRG Energy, Inc		356
11,472		NV Energy, Inc		208
4,787		OGE Energy Corp		270
9,770		Oneok, Inc		418
919		Ormat Technologies, Inc		18
1,956		Otter Tail Corp		49
11,070		Pepco Holdings, Inc		217
19,496		PG&E Corp		783
3,016		Piedmont Natural Gas Co, Inc		94
5,314		Pinnacle West Capital Corp		271
4,395		PNM Resources, Inc		90
3,801		Portland General Electric Co		104
28,315		PPL Corp		811
23,925		Public Service Enterprise Group, Inc		732
8,653		Questar Corp		171
5,492		SCANA Corp		251
11,393		Sempra Energy		808
678		SJW Corp		18
1,513		South Jersey Industries, Inc		76
40,972		Southern Co		1,754
2,247		Southwest Gas Corp		95
10,471		TECO Energy, Inc		176
5,470		UGI Corp		179
2,458		UIL Holdings Corp		88
597		Unitil Corp		15
1,902		UNS Energy Corp		81
3,990		Vectren Corp		117
5,819		Westar Energy, Inc		167

41

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	RATE			MATURITY DATE		VALUE (000)
2,570		WGL Holdings, Inc						$	101
10,808		Wisconsin Energy Corp							398
22,985		Xcel Energy, Inc							614
672		York Water Co							12
		TOTAL UTILITIES							25,688
		TOTAL COMMON STOCKS (Cost $500,799)							748,006
RIGHTS / WARRANTS - 0.0%
ENERGY - 0.0%
559	e	Magnum Hunter Resources Corp							0	^
		TOTAL ENERGY							0	^
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
4,202		Allos Therapeutics, Inc							0	^
		TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							0	^
		TOTAL RIGHTS / WARRANTS (Cost $0)							0	^
SHORT-TERM INVESTMENTS - 2.4%
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.1%
16,065,738	c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust							16,066
		TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES							16,066
PRINCIPAL		ISSUER
TREASURY DEBT - 0.3%
$2,000,000	d	United States Treasury Bill		0.024	%		01/17/13		2,000
		TOTAL TREASURY DEBT							2,000
		TOTAL SHORT-TERM INVESTMENTS (Cost $18,066)							18,066
		TOTAL INVESTMENTS - 101.8% (Cost $518,865)							766,072
		OTHER ASSETS & LIABILITIES, NET - (1.8)%							(13,633	)
		NET ASSETS - 100.0%						$	752,439

Abbreviation(s):

REIT	Real Estate Investment Trust
SPDR	Standard & Poor’s Depository Receipts

* Non-income producing.

^ Amount represents less than $1,000.

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 or other 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 $15,936,000.

m Indicates a security that has been deemed illiquid.

Cost amounts are in thousands.

42

Report of Independent Registered Public Accounting Firm

To the Management Committee and Contract owners of TIAA Separate Account VA-1:

We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the financial statements of the Stock Index Account of TIAA Separate Account VA-1 (hereafter referred to as “VA-1”) as of December 31, 2012, and for the year then ended, and have issued our unqualified report thereon dated February 19, 2013 (which report and financial statements are included in Item 1 of this Certified Shareholder Report on Form N-CSR). Our audit included an audit of VA-1’s schedule of investments in securities (the “Schedule”) as of December 31, 2012 appearing in Item 6 of this Form N-CSR. The Schedule is the responsibility of the VA-1’s management. Our responsibility is to express an opinion on this Schedules based on our audits.

In our opinion, the Schedule referred to above, when read in conjunction with the financial statements of VA-1 referred to above, presents fairly, in all material respects, the information set forth therein.

/s/  PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

February 19, 2013

Boston, Massachusetts

43

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Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not Applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not Applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not Applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Management Committee.

Item 11. 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 annual reporting period.

(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s annual period covered by this report that materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 12. Exhibits.

12(a)(1) Copy of current SOX code of ethics for Senior Financial Officers

12(a)(2)(i) Section 302 certification of the principal executive officer

12(a)(2)(ii) Section 302 certification of the principal financial officer

12(b) Section 906 certification of principal executive officer and 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.

		TIAA SEPARATE ACCOUNT VA-1
Dated:	February 19, 2013	By:	/s/ Roger W. Ferguson, Jr.
			Roger W. Ferguson, Jr.
			President and Chief Executive Officer

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.

Dated:	February 19, 2013	By:	/s/ Roger W. Ferguson, Jr.
			Roger W. Ferguson, Jr.
			President and Chief Executive Officer
			(principal executive officer)
Dated:	February 19, 2013	By:	/s/ Phillip G. Goff
			Phillip G. Goff
			Chief Financial Officer, Principal Accounting Officer and Treasurer
			(principal financial officer)

EXHIBIT INDEX

Item 12. Exhibits.

12(a)(1) Copy of current SOX code of ethics for Senior Financial Officers

12(a)(2)(i) Section 302 certification of the principal executive officer

12(a)(2)(ii) Section 302 certification of the principal financial officer

12(b) Section 906 certification of principal executive officer and principal financial officer