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)

Kenneth W. Reitz, Esq.

TIAA SEPARATE ACCOUNT VA-1

8500 Andrew Carnegie Blvd.

Charlotte, North Carolina 28262-8500

(Name and address of agent for service)

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

Date of fiscal year end: December 31

Date of reporting period: December 31, 2017

Item 1. Reports to Stockholders.

Annual Report
December 31, 2017
TIAA
TIAA Separate Account VA-1
of Teachers Insurance and Annuity Association of America, New York, NY
Audited financial statements
Stock Index Account
BUILT TO PERFORM.
CREATED TO SERVE.

Understanding this report

This annual report contains information about the TIAA Separate Account VA-1 of Teachers Insurance and Annuity Association of America (TIAA) and made available through TIAA’s Teachers Personal Annuity variable annuity contract, and describes the Account’s results for the twelve months ended December 31, 2017. 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, 2017.

• 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.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
Statements of changes in net assets	13
Financial highlights	14
Notes to financial statements	16
Report of independent registered public accounting firm	24
Management committee members and officers	26
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.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 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.org or on the SEC’s website at 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 sec.gov.

Contacting TIAA

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, 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, LLC. The members of this team are responsible for the day-to-day investment management of the Account.

TIAA Separate Account VA-1 ◾ 2017 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, 2017–December 31, 2017).

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    2017 Annual Report ◾ TIAA Separate Account VA-1

Important information about expenses

Expense example

Six months ended December 31, 2017

Stock Index Account	Beginning  account value  (7/1/17)		Ending  account value  (12/31/17)		Expenses paid  during period* (7/1/17–12/31/17)
Actual return		$1,000.00		$1,107.77		$3.98
5% annual hypothetical return		1,000.00		1,021.42		3.82

* “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 184/365. There were 184 days in the six months ended December 31, 2017. 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.

Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell^® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and/or Russell ratings or underlying data and no party may rely on any Russell Indexes and/or Russell ratings and/or underlying data contained in this communication. No further distribution of Russell Data is permitted without Russell’s express written consent. Russell does not promote, sponsor or endorse the content of this communication.

TIAA Separate Account VA-1 ◾ 2017 Annual Report    3

Stock Index Account

Performance for the twelve months ended December 31, 2017

The Stock Index Account returned 20.22% for the year, compared with the 21.13% return of its benchmark, the Russell 3000^® Index.

For the twelve-month period, the Account’s return underperformed that of its benchmark index due to the effect of expenses. The Account’s return includes a deduction for expenses, while the benchmark’s does not. The Account had a risk profile similar to that of its benchmark.

U.S. economic growth accelerated during the twelve-month period, while unemployment declined and inflation remained muted. Gross domestic product (GDP), which measures the value of all goods and services produced in the United States, grew at a rate of 2.3% in 2017, according to the U.S. government’s “advance” estimate for the full year. Unemployment declined to 4.1%—its lowest level in 17 years—and remained at that rate for the last three months of the period. In response to the growing economy, the Federal Reserve raised the federal funds target rate in December to a range of 1.25%–1.50%, which was the Fed’s third rate increase in 2017. Inflation remained modest throughout the period, while the price per barrel of West Texas Intermediate crude oil increased from nearly $54 at the end of 2016 to more than $60 at the close of 2017, reflecting growing price pressure over the twelve months.

U.S. stocks, as measured by the Russell 3000 Index, had strong gains over the period as investors responded to a more business-friendly political environment, the strengthening global economy and continued low inflation. Growth stocks outperformed their value counterparts by a substantial margin, while large-cap stocks surpassed shares of smaller companies. (Returns by investment style and capitalization size are based on the Russell indexes.)

Nine of eleven sectors posted positive returns

Nine of the eleven industry sectors in the Account’s benchmark index delivered positive performance for the year. Information technology (up 37.1%)—the benchmark’s largest sector—performed best amid robust demand for mobile devices, digital content and other technology-related products and services. Next in line were health care (up 22.9%), materials (up 22.9%), consumer discretionary (up 22.7%) and industrials (up 21.4%). Together, these five sectors represented more than three-fifths of the benchmark’s total market capitalization on December 31, 2017. Energy (down 2.3%) and telecommunication services (down 1.4%) were the benchmark’s only decliners.

All of the benchmark’s five largest stocks outperformed the benchmark for the twelve months. Amazon.com performed best with sizable double-digit gains, followed closely by Facebook. Apple was next in line, rising on strong international sales and investor enthusiasm for new products such as the iPhone 8 and Apple Watch Series 3. Microsoft and Berkshire Hathaway also posted strong results.

4    2017 Annual Report ◾ TIAA Separate Account VA-1

Stock Index Account

Performance as of December 31, 2017

			Total return			Average annual total return
	Inception date		1 year			5 years			10 years
Stock Index Account		11/1/1994		20.22	%		14.74	%		7.87	%
Russell 3000 Index		—		21.13			15.58			8.60

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.org.

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

$10,000 over 10 years

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 ◾ 2017 Annual Report    5

Stock Index Account

Portfolio composition

Sector	% of net assets as of 12/31/2017
Information technology		22.7
Financials		15.2
Health care		13.2
Consumer discretionary		12.4
Industrials		10.8
Consumer staples		7.3
Energy		5.7
Real estate		3.8
Materials		3.4
Utilities		3.0
Telecommunication services		1.9
Short-term investments, other assets & liabilities, net		0.6
Total		100.0

Holdings by company size

Market capitalization	% of equity investments as of 12/31/2017
More than $50 billion	56.1
More than $15 billion–$50 billion	21.0
More than $2 billion–$15 billion	19.3
$2 billion or less	3.6
Total	100.0

6    2017 Annual Report ◾ TIAA Separate Account VA-1

Summary portfolio of investments

Stock Index Account  §  December 31, 2017

Shares		Company	Value (000)		% of net assets
	COMMON STOCKS
	AUTOMOBILES & COMPONENTS		$	10,021		0.9	%
	BANKS
	372,530	Bank of America Corp		10,997		1.0
	101,693	Citigroup, Inc		7,567		0.7
	132,782	JPMorgan Chase & Co		14,200		1.4
	170,060	Wells Fargo & Co		10,318		1.0
		Other		29,825		2.8
				72,907		6.9
	CAPITAL GOODS
	22,167	3M Co		5,217		0.5
	21,311	Boeing Co		6,285		0.6
	333,358	General Electric Co		5,817		0.5
	29,111	Honeywell International, Inc		4,465		0.4
		Other		60,354		5.7
				82,138		7.7
	COMMERCIAL & PROFESSIONAL SERVICES			9,455		0.9
	CONSUMER DURABLES & APPAREL			14,953		1.4
	CONSUMER SERVICES
	30,709	McDonald’s Corp		5,286		0.5
		Other		19,027		1.8
				24,313		2.3
	DIVERSIFIED FINANCIALS			43,966		4.1
	ENERGY
	72,259	Chevron Corp		9,046		0.8
	162,753	Exxon Mobil Corp		13,612		1.3
		Other		38,028		3.6
				60,686		5.7
	FOOD & STAPLES RETAILING
	55,236	Wal-Mart Stores, Inc		5,454		0.5
		Other		8,392		0.8
				13,846		1.3
	FOOD, BEVERAGE & TOBACCO
	73,920	Altria Group, Inc		5,279		0.5
	147,181	Coca-Cola Co		6,753		0.7
	54,796	PepsiCo, Inc		6,571		0.6
	59,398	Philip Morris International, Inc		6,275		0.6
		Other		21,518		2.0
				46,396		4.4

See notes to financial statements TIAA Separate Account VA-1   §   2017 Annual Report 7

Summary portfolio of investments continued

Stock Index Account  §  December 31, 2017

Shares			Company	Value (000)		% of net assets
	HEALTH CARE EQUIPMENT & SERVICES
	52,500		Medtronic plc	$	4,240		0.4	%
	36,643		UnitedHealth Group, Inc		8,078		0.7
			Other		44,359		4.2
					56,677		5.3
	HOUSEHOLD & PERSONAL PRODUCTS
	98,271		Procter & Gamble Co		9,029		0.9
			Other		7,763		0.7
					16,792		1.6
	INSURANCE
	73,802	*	Berkshire Hathaway, Inc (Class B)		14,629		1.4
			Other		29,739		2.8
					44,368		4.2
	MATERIALS
	89,525		DowDuPont, Inc		6,376		0.6
			Other		29,985		2.8
					36,361		3.4
	MEDIA
	178,323		Comcast Corp (Class A)		7,142		0.7
	59,373		Walt Disney Co		6,383		0.6
			Other		14,372		1.3
					27,897		2.6
	PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
	61,168		AbbVie, Inc		5,916		0.5
	28,316		Amgen, Inc		4,924		0.5
	63,071		Bristol-Myers Squibb Co		3,865		0.4
	103,531		Johnson & Johnson		14,465		1.4
	226,216		Pfizer, Inc		8,194		0.8
	104,960	*	Schering-Plough Corp		5,906		0.5
			Other		40,115		3.8
					83,385		7.9
	REAL ESTATE				40,394		3.8
	RETAILING
	15,249	*	Amazon.com, Inc		17,834		1.7
	45,350		Home Depot, Inc		8,595		0.8
			Other		28,353		2.7
					54,782		5.2
	SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT
	15,498		Broadcom Ltd		3,981		0.4
	180,309		Intel Corp		8,323		0.8
	21,788		NVIDIA Corp		4,216		0.4
	38,278		Texas Instruments, Inc		3,998		0.4
			Other		19,745		1.8
					40,263		3.8

8 2017 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Summary portfolio of investments continued

Stock Index Account  §  December 31, 2017

Shares			Company		Value (000)		% of net assets
	SOFTWARE & SERVICES
	11,388	*	Alphabet, Inc (Class A)		$	11,996		1.1	%
	11,571	*	Alphabet, Inc (Class C)			12,108		1.1
	89,578	*	Facebook, Inc			15,807		1.5
	32,578		International Business Machines Corp			4,998		0.5
	36,100		MasterCard, Inc (Class A)			5,464		0.5
	287,921		Microsoft Corp			24,629		2.3
	111,944		Oracle Corp			5,293		0.5
	70,097		Visa, Inc (Class A)			7,992		0.8
			Other			54,115		5.1
						142,402		13.4
	TECHNOLOGY HARDWARE & EQUIPMENT
	197,295	d	Apple, Inc			33,388		3.2
	190,558		Cisco Systems, Inc			7,298		0.7
			Other			17,294		1.6
						57,980		5.5
	TELECOMMUNICATION SERVICES
	235,158		AT&T, Inc			9,143		0.9
	156,145		Verizon Communications, Inc			8,265		0.8
			Other			2,518		0.2
						19,926		1.9
	TRANSPORTATION
	30,301		Union Pacific Corp			4,064		0.4
			Other			18,918		1.8
						22,982		2.2
	UTILITIES					31,322		3.0
			TOTAL COMMON STOCKS	(Cost $429,327)		1,054,212		99.4
	RIGHTS / WARRANTS
	DIVERSIFIED FINANCIALS					0		0.0
	PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					1		0.0
	SOFTWARE & SERVICES					0		0.0
			TOTAL RIGHTS / WARRANTS	(Cost $0)		1		0.0
Principal			Issuer
	SHORT-TERM INVESTMENTS
	TREASURY DEBT
	$4,830,000		United States Cash Management Bill	0.900%, 01/02/18		4,830		0.5
						4,830		0.5

See notes to financial statements TIAA Separate Account VA-1   §   2017 Annual Report 9

Summary portfolio of investments concluded

Stock Index Account  §  December 31, 2017

Shares			Company		Value (000)			% of net assets
	INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	14,296,181	c	State Street Navigator Securities Lending Government Money Market Portfolio		$	14,296			1.3	%
						14,296			1.3
			TOTAL SHORT-TERM INVESTMENTS	(Cost $19,126)		19,126			1.8
			TOTAL PORTFOLIO	(Cost $448,453)		1,073,339			101.2
			OTHER ASSETS & LIABILITIES, NET			(12,900	)		(1.2	)
			NET ASSETS		$	1,060,439			100.0	%

* Non-income producing

c Investments made with cash collateral received from securities on loan.

d All or a portion of these securities have been segregated by the custodian 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.

At 12/31/17, the aggregate value of securities on loan is $13,760,000.

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.

Futures contracts outstanding as of December 31, 2017 were as follows (notional amounts and values are in thousands) (see Note 3):

Description	Number of long (short) contracts		Expiration date	Notional amount		Value		Unrealized appreciation (depreciation)
S&P 500 E Mini Index		25	3/16/18	$	3,292	$	3,345	$	53

10 2017 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Statement of assets and liabilities

TIAA Separate Account VA-1  §  December 31, 2017

(amounts in thousands, except accumulation unit value)	Stock Index Account
ASSETS
Portfolio investments, at value*†	$	1,073,339
Cash		44
Dividends and interest receivable		1,157
Receivable from securities transactions		918
Other		159
Total assets		1,075,617
LIABILITIES
Investment management fees payable		13
Service agreement fees payable		18
Payable for collateral for securities loaned		14,296
Payable for securities transactions		303
Due to affiliates		343
Payable for variation margin on futures contracts		12
Payable for manager compensation		158
Other		35
Total liabilities		15,178
NET ASSETS
Accumulation Fund	$	1,060,439
Accumulation units outstanding		5,196
Accumulation unit value	$	204.10
*   Portfolio investments, at cost	$	448,453
† Includes securities loaned of	$	13,760

See notes to financial statements TIAA Separate Account VA-1   §   2017 Annual Report 11

Statement of operations

TIAA Separate Account VA-1  §  For the year ended December 31, 2017

(amounts in thousands)	Stock Index Account
INVESTMENT INCOME
Dividends*	$	19,211
Income from securities lending		216
Interest		17
Other		9
Total income		19,453
EXPENSES
Administrative services		2,002
Investment advisory		3,004
Mortality and expense risk charges		4,005
Total expenses		9,011
Less: Expense waiver by investment adviser		(1,502	)
Net expenses		7,509
Net investment income (loss)		11,944
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS
Realized gain (loss):
Portfolio investments		46,525
Futures transactions		201
Net realized gain (loss) on total investments		46,726
Change in unrealized appreciation (depreciation) on:
Portfolio investments		126,121
Futures transactions		59
Net change in unrealized appreciation (depreciation) on total investments		126,180
Net realized and unrealized gain (loss) on total investments		172,906
Net increase (decrease) in net assets from operations	$	184,850
*   Net of foreign withholding taxes	$	2

12 2017 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Statements of changes in net assets

TIAA Separate Account VA-1  §  For the year ended

	Stock Index Account
(amounts in thousands)	December 31, 2017			December 31, 2016
OPERATIONS
Net investment income (loss)	$	11,944		$	12,925
Net realized gain (loss) on total investments		46,726			44,565
Net change in unrealized appreciation (depreciation) on total investments		126,180			46,582
Net increase (decrease) in net assets from operations		184,850			104,072
FROM CONTRACTOWNER TRANSACTIONS
Premiums		19,045			16,314
Withdrawals and death benefits		(95,375	)		(93,529	)
Net increase (decrease) from contractowner transactions		(76,330	)		(77,215	)
Net increase (decrease) in net assets		108,520			26,857
NET ASSETS
Beginning of period		951,919			925,062
End of period	$	1,060,439		$	951,919
ACCUMULATION UNITS
Units purchased		102			104
Units sold / transferred		(513	)		(599	)
Outstanding
Beginning of period		5,607			6,102
End of period		5,196			5,607

See notes to financial statements TIAA Separate Account VA-1   §   2017 Annual Report 13

Financial highlights

TIAA Separate Account VA-1

			Selected per accumulation unit data
			Gain (loss) from investment operations
	For the year ended		Investment incomea		Expensesa		Net investment income (loss)a		Net realized & unrealized gain (loss) on total investments			Net change in accumulation unit value			Accumulation unit value beginning of year
STOCK INDEX ACCOUNT
		12/31/17	$	3.613	$	1.395	$	2.218	$	32.114		$	34.332		$	169.769
		12/31/16		3.387		1.173		2.214		15.947			18.161			151.608
		12/31/15		3.175		1.150		2.025		(2.347	)		(0.322	)		151.930
		12/31/14		2.761		1.067		1.694		14.236			15.930			136.000
		12/31/13		2.402		0.896		1.506		31.870			33.376			102.624

a Based on average units outstanding.

b Based on per accumulation unit data.

14 2017 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

					Ratios and supplemental data
					Ratios to average net assets
Accumulation unit value end of year		Total returnb			Gross expenses			Net expenses			Net investment income (loss)			Portfolio turnover rate			Accumulation units outstanding end of year (in millions)		Net assets at the end of year (in millions)
$	204.101		20.22	%		0.90	%		0.75	%		1.19	%		5	%		5	$	1,060
	169.769		11.98			0.90			0.75			1.42			7			6		952
	151.608		(0.21	)		0.90			0.75			1.32			7			6		925
	151.930		11.71			0.90			0.75			1.19			7			7		989
	136.000		32.53			0.90			0.75			1.26			7			7		935

See notes to financial statements TIAA Separate Account VA-1   §   2017 Annual Report 15

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 Account is an investment company and follows the accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services—Investment Companies. 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. Foreign dividend income is recorded on the ex-dividend date or as soon as possible after the Account determines the existence of a dividend declaration after exercising reasonable due diligence. 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 gains 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. The Account files an income tax return in U.S. federal and applicable

16 2017 Annual Report   §   TIAA Separate Account VA-1

state and local jurisdictions. The Account’s federal income tax returns are generally subject to examination for a period of three fiscal years after being filed. State and local tax returns may be subject to examination for an additional period of time depending on the jurisdiction. Management has analyzed the Account’s tax positions taken for all open federal income tax years 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 compensation. In addition, managers participate in a long-term compensation plan. Amounts deferred are retained by the Account until paid. Amounts payable to the managers for compensation are included separately in the accompanying Statement of Assets and Liabilities. Managers’ fees, including any deferred and long-term compensation incurred, are reflected in the Statement of Operations.

New rule issuances: In October 2016, the Commission issued Final Rule Release No. 33-10231, Investment Company Reporting Modernization. This final rule modernizes investment company reporting by requiring the filing of new Forms N-PORT and N-CEN, and amends Regulation S-X disclosures related to derivatives and other disclosures in the financial statements and other filings. The requirements of this final rule in relation to Form N-CEN must be complied with by June 1, 2018. In December 2017, the Commission issued Temporary Final Rule Release No. 33-10442, which delayed the filing requirements related to Form N-PORT from June 1, 2018 to April 1, 2019, but still requires the Account to maintain the data that would have been filed on Form N-PORT during the deferral period. Management is currently assessing the impact of Forms N-PORT and N-CEN on the Account’s various filings. On August 1, 2017, the Account implemented amendments to Regulation S-X related to derivatives and other disclosures in the financial statements and other filings. The amended S-X disclosures required under this rule did not have an impact on net assets or results of operations but resulted in new disclosures in the schedule of investments for certain investment types. Please refer to the schedule of investments and Note 3 of the financial statements disclosures for details.

In October 2016, the Commission issued Final Rule Release No. 33-10233, Investment Company Liquidity Risk Management Programs. This final rule requires the Account to establish a liquidity risk management program and enhances disclosures regarding the Account’s liquidity. The requirements of this final rule must be adopted by December 1, 2018. Management is currently assessing the impact of this rule to the Account’s financial statements and other filings.

In March 2017, the Commission issued Final Rule Release No. 34-80295, Amendment to Securities Transaction Settlement Cycle. This final rule shortens the standard settlement cycle from T+3 to T+2. It is expected that this shortened

TIAA Separate Account VA-1   §   2017 Annual Report 17

Notes to financial statements

settlement time will decrease certain risks due to the reduction of unsettled trades and risk exposure. The compliance date for this final rule was September 5, 2017. This rule did not materially impact the Account’s financial statements and other filings.

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 as Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

In accordance with ASC 820, certain portfolio investments that are measured at fair value using the net asset value per share practical expedient are not categorized within the fair value hierarchy. These investments will be disclosed at their fair value to allow reconciliation back to the Statement of Assets and Liabilities. As of December 31, 2017, no investments were valued utilizing the practical expedient.

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 at the official close of business of such market or exchange on the valuation date, or if there is no official close of business, the latest sale price, or at the mean of the latest available bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign equity securities 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

18 2017 Annual Report   §   TIAA Separate Account VA-1

continued

assets are calculated, such securities will be valued at fair value in accordance with procedures adopted by the Committee. Foreign securities are generally categorized as 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 as Level 2 of the fair value hierarchy; in instances where prices, yields or any other key inputs are unobservable, they are categorized as Level 3 of the hierarchy.

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

Futures contracts: Stock and bond index futures contracts, which are traded on commodity exchanges, are valued at the last sale price as of the close of such commodity exchanges and are categorized as 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 as 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 year ended December 31, 2017, there were no material transfers between levels by the Account.

The following table summarizes the market value of the Account’s investments as of December 31, 2017, based on the inputs used to value them (dollar amounts are in thousands):

	Level 1		Level 2		Level 3		Total
Equity Investments:
Consumer discretionary	$	131,965	$	1	$	—	$	131,966
Financials		161,240		1		—		161,241
Health care		140,061		—		1		140,062
Industrials		114,567		—		7		114,574
All other equity investments*		506,370		—		—		506,370
Short-term investments		14,296		4,830		—		19,126
Futures contracts**		53		—		—		53
Total	$	1,068,552	$	4,832	$	8	$	1,073,392

* For detailed categories, see the accompanying Summary portfolio of investments.

** Derivative instruments are not reflected in the market value of portfolio investments.

TIAA Separate Account VA-1   §   2017 Annual Report 19

Notes to financial statements

Note 3—derivative instruments

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

At December 31, 2017, the Account has invested in derivative contracts which are reflected in the Statement of Assets and Liabilities as follows (dollar amounts are in thousands):

	Asset derivatives
Derivative contracts	Location			Fair value amount
Equity contracts		Futures	*	$	53

* 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 payable for variation margin on open futures contracts.

For the year ended December 31, 2017, the effect of derivative contracts on the Account’s Statement of Operations was as follows (dollar amounts are in thousands):

Derivative contracts	Location		Realized gain (loss)		Change in unrealized appreciation (depreciation)
Equity contracts		Futures transactions	$	201	$	59

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 invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract, and variation margin receipts or payments are settled daily reflecting changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures contracts, there is minimal counterparty credit risk to the Account since futures contracts are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures contracts against default. During the year ended December 31, 2017, the Account had exposure to equity futures contracts, based on underlying notional values, generally between 0% and 1% of net assets. The futures contracts outstanding as of December 31, 2017 are disclosed in the summary portfolio of investments and the full schedule of investments.

20 2017 Annual Report   §   TIAA Separate Account VA-1

continued

Note 4—investment adviser and affiliates

Teachers Advisors, LLC (“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 by TIAA-CREF Individual & Institutional Services, LLC (“Services”). Services is a wholly owned subsidiary 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 voluntarily 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 or during the annuity period while payments are still due for the remainder of a guaranteed period, if any.

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. For the year ended December 31, 2017, these transactions did not materially impact the Account.

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; any additional collateral required due to changes in security values is delivered to the Account the next business day. Cash collateral received by the Account will generally be invested in high-quality short-term instruments or in one or more funds maintained by the securities lending agent (“Agent”) for the purpose of investing cash collateral. The value of the loaned securities and the liability to return the cash collateral received are reflected in the Statement of Assets and Liabilities. As of December 31, 2017, securities lending transactions are for equity securities, and the resulting loans are

TIAA Separate Account VA-1   §   2017 Annual Report 21

Notes to financial statements

continuous, can be recalled at any time, and have no set maturity. Securities lending income recognized by the Account consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and compensation to the 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 investment of collateral and the risk that the Agent may default on its contractual obligations to the Account. The Agent bears the risk that the borrower may default on its obligation to return the loaned securities as the Agent is contractually obligated to indemnify the Account if at the time of a default by a borrower some or all of the loan securities have not been returned.

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, 2017, net unrealized appreciation (depreciation) based on the aggregate cost of all investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation was as follows (dollar amounts are in thousands):

Tax cost	Gross unrealized appreciation		Gross unrealized depreciation			Net unrealized appreciation (depreciation)
$448,453	$	652,922	$	(27,983	)	$	624,939

For purposes of this disclosure, tax cost generally includes the cost of portfolio investments as well as up-front fees or premiums exchanged on derivatives and any amounts unrealized for income statement reporting but realized in income and/or capital gains for tax reporting.

Purchases and sales: Purchases and sales of portfolio securities (other than short-term instruments) for the Account for the year ended December 31, 2017 were as follows (dollar amounts are in thousands):

Purchases	Sales
$51,182	$	117,317

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. The current facility was entered into on June 20, 2017 expiring on June 19, 2018, replacing the previous facility, which expired June 2017. 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

22 2017 Annual Report   §   TIAA Separate Account VA-1

concluded

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 accounts or mutual funds 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, 2017, there were no borrowings under this credit facility by the Account.

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   §   2017 Annual Report 23

Report of independent registered
public accounting firm

TotheManagement Committee andContractowners ofthe Stock Index Account of TIAA Separate Account VA-1

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the summary portfolio of investments, ofStock Index Account of TIAA Separate Account VA-1, (the “Account”) as of December 31, 2017, the related statement of operationsfor the year ended December 31, 2017,the statement of changes in net assets for each of the two years in the period ended December 31, 2017, including the related notes,and the financial highlights for each of the five years in the period ended December 31, 2017 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Account as of December 31, 2017, 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 ended December 31, 2017 and the financial highlights for each of the five years in the period ended December 31, 2017 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Account’s management. Our responsibility is to express an opinion on the Account’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2017 by correspondence with the custodian, transfer agent and brokers; when replies were not received from

24 2017 Annual Report   §   TIAA Separate Account VA-1

brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

Baltimore, Maryland

February 16, 2018

We have served as the auditor of one or more investment companies in TIAA-CREF Funds’ investment company group since 2005.

TIAA Separate Account VA-1   §   2017 Annual Report 25

Management committee members and officers (unaudited)

TIAA Separate Account VA-1  §  December 31, 2017

Members

Name, address and year of birth (“YOB”)	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 YOB: 1954	Member	Indefinite term. Member since 2006.	Retired Partner (since 2006), 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).	88	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 YOB: 1962	Member	Indefinite term. Member since 2007.	Vice President (1990–2006), American Beacon Advisors, Inc., and Vice President of certain funds advised by American Beacon Advisors, Inc.	88	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.
Michael A. Forrester c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1967	Member	Indefinite term. Member since 2007.	Chief Executive Officer (since 2014) and Chief Operating Officer (2007–2014), Copper Rock Capital Partners, LLC; Chief Operating Officer, DDJ Capital Management (2003–2006).	88	Director of Copper Rock Capital Partners, LLC (investment adviser).
Howell E. Jackson c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1954	Member	Indefinite term. Member since 2005.	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.	88	Director, Commonwealth (non-profit organization).

26 2017 Annual Report   §   TIAA Separate Account VA-1

Thomas J. Kenny c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1963	Chairman of the Management Committee and Member	Indefinite term. Member since 2011. Chairman for term ending July 1, 2021. Chairman since September 13, 2017.	Partner (2004–2010) and Managing Director (1999–2004), Goldman Sachs Asset Management.	88	Director, Aflac Insurance. Inc.; Director and Investment Committee member, Sansum Clinic; Investment Committee member, Cottage Health System; Member, University of California at Santa Barbara Arts and Lectures Advisory Council; Trustee and Chairman, Crane Country Day School.
Bridget A. Macaskill c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1948	Member	Indefinite term. Member since 2003.	Chairman, First Eagle Holdings (since 2016), Chief Executive Officer (2010–2016), President (2009–2016) and Chief Operating Officer (2009–2010), First Eagle Investment Management, LLC; Principal, BAM Consulting LLC (2003–2009); Independent Consultant for Merrill Lynch (2003–2009).	88	Director, First Eagle Holdings, LLC; Jones Lang LaSalle Incorporated; Close Brothers Group plc; Jupiter Fund Management plc; American Legacy Foundation (Investment Committee); University of Edinburgh (Campaign Board); the North Shore Land Alliance; and Prep for Prep.
James M. Poterba c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1958	Member	Indefinite term. Member since 2006.	President and Chief Executive Officer, National Bureau of Economic Research (“NBER”) (since 2008); Affiliated Faculty Member of the Finance Group at the Alfred P. Sloan School of Management, Massachusetts Institute of Technology (“MIT”) (since 2014); Mitsui Professor of Economics, MIT (since 1996); Head (2006–2008) and Associate Head (1994–2000 and 2001–2006), Economics Department of MIT; and Program Director, NBER (1990–2008).	88	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   §   2017 Annual Report 27

Management committee members and officers (unaudited) continued

TIAA Separate Account VA-1  §  December 31, 2017

Members—concluded

Maceo K. Sloan c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1949	Member	Indefinite term. Member since 2001.	Chairman, President and Chief Executive Officer, Sloan Financial Group, Inc. (1991–2016); Chairman and Chief Executive Officer (1991–2016) and Chief Investment Officer (1991–2013) and Chief Compliance Officer (2015–2016), NCM Capital Management Group, Inc.; Chairman and Chief Executive Officer (2003–2016) and Chief Investment Officer (2003–2013) and Chief Compliance Officer (2015–2016), NCM Capital Advisers Inc.; and Chairman, President and Principal Executive Officer, NCM Capital Investment Trust (2007–2012).	88	Director, SCANA Corporation (energy holding company).
Laura T. Starks c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1950	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) and Professor, University of Texas at Austin (since 1987). Chairman, Department of Finance, University of Texas at Austin (2002–2011).	88	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.

28 2017 Annual Report   §   TIAA Separate Account VA-1

Officers

Name, address and year of birth (“YOB”)	Position(s) held with account	Term of office and length of time served	Principal occupation(s) during past 5 years
Mona Bhalla TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1969	Senior Managing Director and Corporate Secretary	One-year term. Senior Managing Director and Corporate Secretary since 2017.	Senior Managing Director and Corporate Secretary of Teachers Insurance and Annuity Association of America (“TIAA”) and of the College Retirement Equities Fund (“CREF”), TIAA Separate Account VA-1, TIAA-CREF Funds, and TIAA-CREF Life Funds (collectively, the “TIAA-CREF Fund Complex”). Prior to joining TIAA, Ms. Bhalla served as Senior Vice President, Counsel and Corporate Secretary, Head of Corporate, Securities and M&A Group of AllianceBernstein L.P.
Richard S. Biegen TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1962	Chief Compliance Officer	One-year term. Chief Compliance Officer since 2008.	Managing Director, Senior Compliance Officer of TIAA. Chief Compliance Officer of the TIAA-CREF Fund Complex.
Carol W. Deckbar TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1962	Executive Vice President	One-year term. Executive Vice President since 2017.	Executive Vice President, Institutional Investment and Endowment Services of TIAA and Executive Vice President of CREF and VA-1.
Roger W. Ferguson, Jr. TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1951	President and Chief Executive Officer	One-year term. President and Chief Executive Officer since 2008.	President and Chief Executive Officer of TIAA, CREF and TIAA Separate Account VA-1.
Stephen Gruppo TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1959	Executive Vice President	One-year term. Executive Vice President since 2009.	Senior Executive Vice President, Chief Risk Officer of TIAA. Executive Vice President of the TIAA-CREF Fund Complex.

TIAA Separate Account VA-1   §   2017 Annual Report 29

Management committee members and officers (unaudited) concluded

TIAA Separate Account VA-1  §  December 31, 2017

Officers—concluded

J. Keith Morgan TIAA 730 Third Ave. New York, NY 10017-3206 YOB: 1951	Executive Vice President and Chief Legal Officer	One-year term. Executive Vice President and Chief Legal Officer since 2015.	Senior Executive Vice President and Chief Legal Officer of TIAA and Executive Vice President and Chief Legal Officer of the TIAA-CREF Fund Complex. Prior to joining TIAA, Mr. Morgan served as Founder and Chief Executive Officer of Morris Lane Capital LLC (consultant), and as Senior Vice President and General Counsel of General Electric Capital Corporation.
Ronald R. Pressman TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1958	Executive Vice President	One-year term. Executive Vice President since 2012.	Senior Executive Vice President, Chief Executive Officer, Institutional Financial Services of TIAA, and Executive Vice President of the TIAA-CREF Fund Complex. Prior to joining TIAA, Mr. Pressman served as President and Chief Executive Officer of General Electric Capital Real Estate.
Otha T. Spriggs, III TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1951	Executive Vice President	One-year term. Executive Vice President since 2012.	Senior Executive Vice President and Chief Human Resources Officer of TIAA and Executive Vice President of the TIAA-CREF Fund Complex. Prior to joining TIAA, Mr. Spriggs served as Senior Vice President of Human Resources, Boston Scientific; President of Integrated People Solutions; Senior Vice President, Human Resources and various human resources leadership roles, CIGNA Corp.
E. Scott Wickerham TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1973	Principal Financial Officer, Principal Accounting Officer and Treasurer	One-year term. Principal Financial Officer, Principal Accounting Officer and Treasurer since 2017.	Managing Director, Funds Treasurer, Nuveen. Principal Financial Officer, Principal Accounting Officer and Treasurer of the TIAA-CREF Funds, TIAA-CREF Life Funds and TIAA Separate Account VA-1; and Treasurer of CREF.

The Funds’ Statement of Additional Information (SAI) includes additional information about the Funds’ trustees and is available, without charge, through our website, TIAA.org, or by telephone at 800-223-1200.

30 2017 Annual Report   §   TIAA Separate Account VA-1

[This page intentionally left blank.]

[This page intentionally left blank.]

How to reach us

TIAA website	Insurance planning center
Account performance, personal account	After-tax annuities and life insurance
information and transactions, product	For an existing policy or contract
descriptions, and information about
investment choices and income options	800-223-1200
	To apply for a new policy or contract
TIAA. org
24 hours a day, 7 days a week	877-825-0411
	8 a.m. to 8 p.m. (ET), Monday–Friday
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	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
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

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.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. Nuveen, a subsidiary of TIAA, provides investment advice and portfolio management services through a dozen affiliated registered investment advisers. TIAA-CREF Individual & Institutional Services, LLC and Nuveen Securities, LLC, members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. After-tax annuities and life insurance are issued by Teachers Insurance and Annuity Association of America (TIAA), New York, NY. Each of the foregoing is solely responsible for its own financial condition and contractual obligations.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisors.

^©2018 Teachers Insurance and Annuity Association of America—College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017-3206

            730 Third Avenue             New York, NY 10017-3206

 Printed on paper containing recycled fiber  

We’re fond of paper…in its original form. Switch to eDelivery at TIAA.org/eDelivery

339684 A10845 (2/18)

            730 Third Avenue             New York, NY 10017-3206

339684 A10845 (2/18)

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, 2017 and December 31, 2016, PwC’s aggregate fees for the audit of the Registrant’s annual financial statements were $54,580 and $53,250, respectively.

4(b) Audit Related Fees.

For the fiscal years ended December 31, 2017 and December 31, 2016, 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, 2017 and December 31, 2016, the Audit-Related Fees billed by PwC to Teachers Advisors, LLC (“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, 2017 and December 31, 2016, PwC’s aggregate fees for tax services billed to the Registrant were $0 and $0, respectively.

For the fiscal years ended December 31, 2017 and December 31, 2016, 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, 2017 and December 31, 2016, PwC’s aggregate fees for all other services billed to the Registrant were $3,000 and $3,000, respectively.

For the fiscal years ended December 31, 2017 and December 31, 2016, 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, 2017 and December 31, 2016 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, 2017 and December 31, 2016 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, 2017 and December 31, 2016 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, 2017 and December 31, 2016 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, 2017 and December 31, 2016 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, 2017 and December 31, 2016 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, 2017 and December 31, 2016, aggregate non-audit fees billed to the Registrant and to its Fund Service Providers by PwC were $208,315 and $305,800, 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, 2017

SHARES		COMPANY	VALUE (000)
COMMON STOCKS - 99.4%
AUTOMOBILES & COMPONENTS - 0.9%
3,669		Adient plc	$	289
3,248	*	American Axle & Manufacturing Holdings, Inc		55
8,007		BorgWarner, Inc		409
1,678		Cooper Tire & Rubber Co		59
671	*	Cooper-Standard Holding, Inc		82
5,567		Dana Holding Corp		178
10,177	*	Delphi Automotive plc		863
3,392	*	Delphi Technologies plc		178
1,044	*	Dorman Products, Inc		64
148,668		Ford Motor Co		1,857
1,363	*	Fox Factory Holding Corp		53
50,507		General Motors Co		2,070
10,320		Gentex Corp		216
1,424	*	Gentherm, Inc		45
9,313		Goodyear Tire & Rubber Co		301
6,846	e	Harley-Davidson, Inc		348
799	*	Horizon Global Corp		11
938		LCI Industries, Inc		122
2,605		Lear Corp		460
1,945	*	Modine Manufacturing Co		39
670	*	Motorcar Parts of America, Inc		17
313	*	Shiloh Industries, Inc		3
1,379		Spartan Motors, Inc		22
843		Standard Motor Products, Inc		38
1,055	*	Stoneridge, Inc		24
1,027		Superior Industries International, Inc		15
2,045		Tenneco, Inc		120
4,980	*,e	Tesla, Inc		1,551
1,931		Thor Industries, Inc		291
897		Tower International, Inc		27
1,140	*	Visteon Corp		143
799	*	VOXX International Corp (Class A)		5
1,185		Winnebago Industries, Inc		66
		TOTAL AUTOMOBILES & COMPONENTS		10,021
BANKS - 6.9%
625		1st Source Corp		31
486		Access National Corp		14
255		ACNB Corp		8
444	*	Allegiance Bancshares, Inc		17
374		American National Bankshares, Inc		14
1,390		Ameris Bancorp		67
387		Ames National Corp		11
401		Arrow Financial Corp		14
5,921		Associated Banc-Corp		150

1

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
706	*	Atlantic Capital Bancshares, Inc	$	12
1,598	e	Banc of California, Inc		33
666		Bancfirst Corp		34
1,284		Banco Latinoamericano de Exportaciones S.A. (Class E)		35
3,345		BancorpSouth Bank		105
1,617		Bank Mutual Corp		17
372,530		Bank of America Corp		10,997
601		Bank of Commerce Holdings		7
1,630		Bank of Hawaii Corp		140
234		Bank of Marin Bancorp		16
2,093		Bank of NT Butterfield & Son Ltd		76
4,451		Bank of the Ozarks, Inc		216
457		BankFinancial Corp		7
4,119		BankUnited		168
217		Bankwell Financial Group, Inc		7
1,278		Banner Corp		70
622		Bar Harbor Bankshares		17
31,083		BB&T Corp		1,545
361		BCB Bancorp, Inc		5
573		Bear State Financial, Inc		6
2,708		Beneficial Bancorp, Inc		45
1,314		Berkshire Hills Bancorp, Inc		48
901		Blue Hills Bancorp, Inc		18
2,322	*,e	BofI Holding, Inc		69
804		BOK Financial Corp		74
3,231		Boston Private Financial Holdings, Inc		50
683		Bridge Bancorp, Inc		24
2,984		Brookline Bancorp, Inc		47
630		Bryn Mawr Bank Corp		28
334	*	BSB Bancorp, Inc		10
241	*	Byline Bancorp, Inc		6
131		C&F Financial Corp		8
321	*	Cadence BanCorp		9
613		Camden National Corp		26
447		Capital City Bank Group, Inc		10
5,027		Capitol Federal Financial		67
314	*	Capstar Financial Holdings, Inc		7
555		Carolina Financial Corp		21
2,923		Cathay General Bancorp		123
2,100		Centerstate Banks of Florida, Inc		54
1,125		Central Pacific Financial Corp		34
383		Central Valley Community Bancorp		8
152		Century Bancorp, Inc		12
504		Charter Financial Corp		9
2,638		Chemical Financial Corp		141
122		Chemung Financial Corp		6
5,233		CIT Group, Inc		258
101,693		Citigroup, Inc		7,567
533		Citizens & Northern Corp		13
19,023		Citizens Financial Group, Inc		799
597		City Holding Co		40
377		Civista Bancshares, Inc		8
856		Clifton Bancorp, Inc		15

2

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
498		CNB Financial Corp	$	13
1,467		CoBiz, Inc		29
342		Codorus Valley Bancorp, Inc		9
2,875		Columbia Banking System, Inc		125
6,704		Comerica, Inc		582
3,381		Commerce Bancshares, Inc		189
254		Commerce Union Bancshares, Inc		7
1,925		Community Bank System, Inc		103
837	*	Community Bankers Trust Corp		7
153		Community Financial Corp		6
651		Community Trust Bancorp, Inc		31
1,146		ConnectOne Bancorp, Inc		30
206		County Bancorp, Inc		6
2,189		Cullen/Frost Bankers, Inc		207
1,005	*	Customers Bancorp, Inc		26
4,043		CVB Financial Corp		95
1,325		Dime Community Bancshares		28
113		DNB Financial Corp		4
1,035	*	Eagle Bancorp, Inc		60
5,381		East West Bancorp, Inc		327
192	*	Entegra Financial Corp		6
314		Enterprise Bancorp, Inc		11
828		Enterprise Financial Services Corp		37
402	*	Equity Bancshares, Inc		14
342		ESSA Bancorp, Inc		5
2,998	*	Essent Group Ltd		130
171		Evans Bancorp, Inc		7
356		Farmers & Merchants Bancorp, Inc		15
298		Farmers Capital Bank Corp		11
1,013		Farmers National Banc Corp		15
246	*	FB Financial Corp		10
1,363	*	FCB Financial Holdings, Inc		69
384		Federal Agricultural Mortgage Corp (Class C)		30
863		Fidelity Southern Corp		19
28,350		Fifth Third Bancorp		860
527		Financial Institutions, Inc		16
1,088		First Bancorp (NC)		38
6,201	*	First Bancorp (Puerto Rico)		32
498		First Bancorp, Inc		14
322	e	First Bancshares, Inc		11
1,476		First Busey Corp		44
360		First Business Financial Services, Inc		8
295		First Citizens Bancshares, Inc (Class A)		119
3,678		First Commonwealth Financial Corp		53
680		First Community Bancshares, Inc		20
542		First Connecticut Bancorp		14
368		First Defiance Financial Corp		19
2,385		First Financial Bancorp		63
2,466	e	First Financial Bankshares, Inc		111
384		First Financial Corp		17
175		First Financial Northwest, Inc		3
1,098	*	First Foundation, Inc		20
162	e	First Guaranty Bancshares, Inc		4

3

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,091		First Hawaiian, Inc	$	61
11,602		First Horizon National Corp		232
228		First Internet Bancorp		9
951		First Interstate Bancsystem, Inc		38
1,580		First Merchants Corp		66
380		First Mid-Illinois Bancshares, Inc		15
3,920		First Midwest Bancorp, Inc		94
327	*	First Northwest Bancorp		5
862		First of Long Island Corp		25
5,972		First Republic Bank		517
890	*	Flagstar Bancorp, Inc		33
1,083		Flushing Financial Corp		30
190		FNB Bancorp		7
12,570		FNB Corp		174
389	*	Franklin Financial Network, Inc		13
6,701		Fulton Financial Corp		120
903		German American Bancorp, Inc		32
2,999		Glacier Bancorp, Inc		118
412		Great Southern Bancorp, Inc		21
2,200		Great Western Bancorp, Inc		88
688	*	Green Bancorp, Inc		14
113	e	Greene County Bancorp, Inc		4
913		Guaranty Bancorp		25
3,286		Hancock Holding Co		163
1,297		Hanmi Financial Corp		39
406	*	HarborOne Bancorp, Inc		8
953		Heartland Financial USA, Inc		51
1,355		Heritage Commerce Corp		21
1,150		Heritage Financial Corp		35
2,919		Hilltop Holdings, Inc		74
57		Hingham Institution for Savings		12
238		Home Bancorp, Inc		10
6,066		Home Bancshares, Inc		141
698	*	HomeStreet, Inc		20
667	*	HomeTrust Bancshares, Inc		17
5,041		Hope Bancorp, Inc		92
806		Horizon Bancorp		22
323	*	Howard Bancorp, Inc		7
41,255		Huntington Bancshares, Inc		601
1,963		IBERIABANK Corp		152
350	*,e	Impac Mortgage Holdings, Inc		4
1,031		Independent Bank Corp (MA)		72
863		Independent Bank Corp (MI)		19
679		Independent Bank Group, Inc		46
2,138		International Bancshares Corp		85
299		Investar Holding Corp		7
10,225		Investors Bancorp, Inc		142
132,782		JPMorgan Chase & Co		14,200
3,353		Kearny Financial Corp		48
41,707		Keycorp		841
1,629		Lakeland Bancorp, Inc		31
976		Lakeland Financial Corp		47
378		LCNB Corp		8

4

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,826		LegacyTexas Financial Group, Inc	$	77
176	*,e	LendingTree, Inc		60
833		Live Oak Bancshares, Inc		20
5,478		M&T Bank Corp		937
1,072		Macatawa Bank Corp		11
946		MainSource Financial Group, Inc		34
236	*	Malvern Bancorp, Inc		6
3,131		MB Financial, Inc		139
540		MBT Financial Corp		6
640		Mercantile Bank Corp		23
1,997		Meridian Bancorp, Inc		41
345		Meta Financial Group, Inc		32
13,096	*	MGIC Investment Corp		185
96		Middlefield Banc Corp		5
582		Midland States Bancorp, Inc		19
334		Midsouth Bancorp, Inc		4
406		MidWestOne Financial Group, Inc		14
213		MutualFirst Financial, Inc		8
984		National Bank Holdings Corp		32
257		National Bankshares, Inc		12
405	*	National Commerce Corp		16
1,121	*	Nationstar Mortgage Holdings, Inc		21
1,661		NBT Bancorp, Inc		61
17,474		New York Community Bancorp, Inc		228
301	*	Nicolet Bankshares, Inc		16
2,265	*	NMI Holdings, Inc		38
256		Northeast Bancorp		6
1,643		Northfield Bancorp, Inc		28
280		Northrim BanCorp, Inc		9
3,683		Northwest Bancshares, Inc		62
223	e	Norwood Financial Corp		7
1,226		OceanFirst Financial Corp		32
1,902		OFG Bancorp		18
160	e	Ohio Valley Banc Corp		6
361		Old Line Bancshares, Inc		11
4,858		Old National Bancorp		85
127		Old Point Financial Corp		4
1,237		Old Second Bancorp, Inc		17
796	*	Opus Bank		22
1,420		Oritani Financial Corp		23
297		Orrstown Financial Services, Inc		7
589	*	Pacific Mercantile Bancorp		5
1,516	*	Pacific Premier Bancorp, Inc		61
5,067		PacWest Bancorp		255
159	*	Paragon Commercial Corp		8
529		Park National Corp		55
180		Parke Bancorp, Inc		4
696	*	PCSB Financial Corp		13
642		Peapack Gladstone Financial Corp		22
221		Penns Woods Bancorp, Inc		10
575	*	PennyMac Financial Services, Inc		13
174	e	Peoples Bancorp of North Carolina, Inc		5
595		Peoples Bancorp, Inc		19

5

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
333	e	Peoples Financial Services Corp	$	16
12,570		People’s United Financial, Inc		235
521		People’s Utah Bancorp		16
2,087	*	PHH Corp		21
2,813		Pinnacle Financial Partners, Inc		186
18,504		PNC Financial Services Group, Inc		2,670
3,900		Popular, Inc		138
510		Preferred Bank		30
377		Premier Financial Bancorp, Inc		8
2,586		Prosperity Bancshares, Inc		181
168	*	Provident Bancorp, Inc		4
251		Provident Financial Holdings, Inc		5
2,502		Provident Financial Services, Inc		67
279		Prudential Bancorp, Inc		5
472		QCR Holdings, Inc		20
8,421		Radian Group, Inc		174
46,062		Regions Financial Corp		796
1,629		Renasant Corp		67
364		Republic Bancorp, Inc (Class A)		14
1,873	*,e	Republic First Bancorp, Inc		16
671		Riverview Bancorp, Inc		6
1,349		S&T Bancorp, Inc		54
910		Sandy Spring Bancorp, Inc		36
1,542	*	Seacoast Banking Corp of Florida		39
1,876		ServisFirst Bancshares, Inc		78
497		Shore Bancshares, Inc		8
475		SI Financial Group, Inc		7
370		Sierra Bancorp		10
2,094	*	Signature Bank		287
1,498		Simmons First National Corp (Class A)		86
275	*	SmartFinancial, Inc		6
1,240		South State Corp		108
228	*	Southern First Bancshares, Inc		9
231		Southern Missouri Bancorp, Inc		9
454		Southern National Bancorp of Virginia, Inc		7
1,068		Southside Bancshares, Inc		36
1,460		State Bank & Trust Co		44
7,815		Sterling Bancorp/DE		192
922		Stock Yards Bancorp, Inc		35
394		Summit Financial Group, Inc		10
385		Sun Bancorp, Inc		9
272	*	Sunshine Bancorp, Inc		6
18,409		SunTrust Banks, Inc		1,189
2,051	*	SVB Financial Group		479
4,498		Synovus Financial Corp		216
6,199		TCF Financial Corp		127
286		Territorial Bancorp, Inc		9
1,930	*	Texas Capital Bancshares, Inc		172
1,044		TFS Financial Corp		16
1,514	*	The Bancorp, Inc		15
232		Timberland Bancorp, Inc		6
573		Tompkins Trustco, Inc		47
2,219		TowneBank		68

6

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
782		Trico Bancshares	$	30
943	*	Tristate Capital Holdings, Inc		22
657	*	Triumph Bancorp, Inc		21
3,358		Trustco Bank Corp NY		31
2,619		Trustmark Corp		83
275		Two River Bancorp		5
1,796		UMB Financial Corp		129
8,613		Umpqua Holdings Corp		179
1,678		Union Bankshares Corp		61
161		Union Bankshares, Inc		9
3,861		United Bankshares, Inc		134
2,711		United Community Banks, Inc		76
1,829		United Community Financial Corp		17
2,065		United Financial Bancorp, Inc (New)		36
510		United Security Bancshares		6
266		Unity Bancorp, Inc		5
1,012		Univest Corp of Pennsylvania		28
60,200		US Bancorp		3,226
10,196		Valley National Bancorp		114
558	*	Veritex Holdings, Inc		15
1,098	*	Walker & Dunlop, Inc		52
3,506		Washington Federal, Inc		120
581		Washington Trust Bancorp, Inc		31
333		WashingtonFirst Bankshares, Inc		11
1,032		Waterstone Financial, Inc		18
3,586		Webster Financial Corp		201
170,060		Wells Fargo & Co		10,318
1,636		WesBanco, Inc		66
597		West Bancorporation, Inc		15
1,024	e	Westamerica Bancorporation		61
3,836	*	Western Alliance Bancorp		217
1,021		Western New England Bancorp, Inc		11
2,157		Wintrust Financial Corp		178
8,517	*	WMIH Corp		7
1,176		WSFS Financial Corp		56
225	*	Xenith Bankshares, Inc		8
7,571		Zions Bancorporation		385
		TOTAL BANKS		72,907
CAPITAL GOODS - 7.7%
22,167		3M Co		5,217
5,419		A.O. Smith Corp		332
1,275		Aaon, Inc		47
1,251		AAR Corp		49
2,301		Actuant Corp (Class A)		58
1,638		Acuity Brands, Inc		288
1,431		Advanced Drainage Systems, Inc		34
5,997	*	Aecom Technology Corp		223
1,316	*	Aegion Corp		33
2,671	*	Aerojet Rocketdyne Holdings, Inc		83
831	*	Aerovironment, Inc		47
2,620		AGCO Corp		187
3,762		Air Lease Corp		181

7

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,259		Aircastle Ltd	$	29
374		Alamo Group, Inc		42
1,111		Albany International Corp (Class A)		68
3,696		Allegion plc		294
205		Allied Motion Technologies, Inc		7
5,148		Allison Transmission Holdings, Inc		222
1,121		Altra Holdings, Inc		57
909	*	Ameresco, Inc		8
324	e	American Railcar Industries, Inc		14
568	*	American Woodmark Corp		74
8,734		Ametek, Inc		633
1,095		Apogee Enterprises, Inc		50
1,503		Applied Industrial Technologies, Inc		102
15,274		Arconic, Inc		416
555		Argan, Inc		25
822	*	Armstrong Flooring, Inc		14
1,735	*	Armstrong World Industries, Inc		105
823		Astec Industries, Inc		48
810	*	Astronics Corp		34
1,239	*	Atkore International Group, Inc		27
2,036	*,e	Axon Enterprise, Inc		54
1,059		AZZ, Inc		54
1,953		Barnes Group, Inc		124
2,363	*	Beacon Roofing Supply, Inc		151
279	*	Blue Bird Corp		6
2,534	*	BMC Stock Holdings, Inc		64
21,311		Boeing Co		6,285
1,640		Briggs & Stratton Corp		42
3,625	*	Builders FirstSource, Inc		79
3,398		BWX Technologies, Inc		206
883	*	Caesarstone Sdot-Yam Ltd		19
520	*	CAI International, Inc		15
2,319		Carlisle Cos, Inc		264
21,754		Caterpillar, Inc		3,428
1,264	*	Chart Industries, Inc		59
3,897		Chicago Bridge & Iron Co NV		63
647		CIRCOR International, Inc		32
3,463	*	Colfax Corp		137
840		Columbus McKinnon Corp		34
1,470		Comfort Systems USA, Inc		64
945	*	Commercial Vehicle Group, Inc		10
1,524	*	Continental Building Products Inc		43
1,769		Crane Co		158
554	*	CSW Industrials, Inc		25
1,041		Cubic Corp		61
6,016		Cummins, Inc		1,063
1,720		Curtiss-Wright Corp		210
12,215		Deere & Co		1,912
535		DMC Global, Inc		13
4,906		Donaldson Co, Inc		240
932		Douglas Dynamics, Inc		35
5,855		Dover Corp		591
485	*	Ducommun, Inc		14

8

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
567	*	DXP Enterprises, Inc	$	17
1,047	*	Dycom Industries, Inc		117
174		Eastern Co		5
17,112		Eaton Corp		1,352
2,290		EMCOR Group, Inc		187
24,449		Emerson Electric Co		1,704
840		Encore Wire Corp		41
648	*,e	Energous Corp		13
1,368	*,e	Energy Recovery, Inc		12
1,701		EnerSys		118
788	*	Engility Holdings, Inc		22
830		EnPro Industries, Inc		78
137	e	EnviroStar, Inc		5
4,548		Equifax, Inc		536
995		ESCO Technologies, Inc		60
1,019	*	Esterline Technologies Corp		76
11,023		Fastenal Co		603
2,292		Federal Signal Corp		46
5,094		Flowserve Corp		215
5,480		Fluor Corp		283
11,776		Fortive Corp		852
6,027		Fortune Brands Home & Security, Inc		413
499	*	Foundation Building Materials, Inc		7
1,724		Franklin Electric Co, Inc		79
635		Freightcar America, Inc		11
1,617	*	Gardner Denver Holdings, Inc		55
1,474		GATX Corp		92
277	*	Gencor Industries, Inc		5
2,385	*	Generac Holdings, Inc		118
1,836		General Cable Corp		54
9,915		General Dynamics Corp		2,017
333,358		General Electric Co		5,817
1,244	*	Gibraltar Industries, Inc		41
870		Global Brass & Copper Holdings, Inc		29
922	*	GMS, Inc		35
678		Gorman-Rupp Co		21
6,390		Graco, Inc		289
470		Graham Corp		10
1,549		Granite Construction, Inc		98
2,253	*	Great Lakes Dredge & Dock Corp		12
1,065	e	Greenbrier Cos, Inc		57
1,120		Griffon Corp		23
1,293		H&E Equipment Services, Inc		53
423		Hardinge, Inc		7
3,062	*	Harsco Corp		57
1,580	*	HC2 Holdings, Inc		9
7,822	*	HD Supply Holdings, Inc		313
781		HEICO Corp		74
1,666		HEICO Corp (Class A)		132
981	*	Herc Holdings, Inc		61
3,542		Hexcel Corp		219
2,415		Hillenbrand, Inc		108
29,111		Honeywell International, Inc		4,465

9

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,111		Hubbell, Inc	$	286
1,702		Huntington Ingalls		401
316		Hurco Cos, Inc		13
823	*,e	Huttig Building Products, Inc		5
404		Hyster-Yale Materials Handling, Inc		34
2,879		IDEX Corp		380
298	*	IES Holdings, Inc		5
11,685		Illinois Tool Works, Inc		1,950
9,658		Ingersoll-Rand plc		861
716		Insteel Industries, Inc		20
3,480		ITT, Inc		186
4,430		Jacobs Engineering Group, Inc		292
2,450	*	JELD-WEN Holding, Inc		96
1,200		John Bean Technologies Corp		133
35,793		Johnson Controls International plc		1,364
433		Kadant, Inc		43
1,040		Kaman Corp		61
5,716		KBR, Inc		113
3,108		Kennametal, Inc		150
1,868	*,e	KEYW Holding Corp, The		11
2,010	*	KLX, Inc		137
2,746	*	Kratos Defense & Security Solutions, Inc		29
2,946		L3 Technologies, Inc		583
246	*	Lawson Products, Inc		6
763	*	Layne Christensen Co		10
306	*	LB Foster Co (Class A)		8
1,529		Lennox International, Inc		318
2,298		Lincoln Electric Holdings, Inc		210
408		Lindsay Corp		36
9,608		Lockheed Martin Corp		3,085
986		LSI Industries, Inc		7
674	*	Lydall, Inc		34
1,198	*	Manitowoc Co, Inc		47
12,142		Masco Corp		534
1,161	*	Masonite International Corp		86
2,577	*	Mastec, Inc		126
1,815	*	Mercury Systems, Inc		93
3,256	*	Meritor, Inc		76
2,113	*	Middleby Corp		285
1,678	*	Milacron Holdings Corp		32
446		Miller Industries, Inc		12
1,239	*	Moog, Inc (Class A)		108
3,470	*	MRC Global, Inc		59
1,759		MSC Industrial Direct Co (Class A)		170
2,210		Mueller Industries, Inc		78
6,011		Mueller Water Products, Inc (Class A)		75
639	*	MYR Group, Inc		23
206	e	National Presto Industries, Inc		21
1,911	*	Navistar International Corp		82
1,570	*	NCI Building Systems, Inc		30
962	*	Nexeo Solutions, Inc		9
1,020		NN, Inc		28
2,122		Nordson Corp		311

10

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
6,159		Northrop Grumman Corp	$	1,890
371	*	Northwest Pipe Co		7
4,328	*	NOW, Inc		48
291	*	NV5 Holdings, Inc		16
117		Omega Flex, Inc		8
2,206		Orbital ATK, Inc		290
987	*	Orion Marine Group, Inc		8
2,888		Oshkosh Truck Corp		263
4,331		Owens Corning, Inc		398
12,981		PACCAR, Inc		923
5,011		Parker-Hannifin Corp		1,000
904	*	Patrick Industries, Inc		63
6,241		Pentair plc		441
1,847	*	PGT, Inc		31
7,340	*	Plug Power, Inc		17
738	*	Ply Gem Holdings, Inc		14
416		Powell Industries, Inc		12
96		Preformed Line Products Co		7
1,452		Primoris Services Corp		39
1,003	*	Proto Labs, Inc		103
1,340		Quanex Building Products Corp		31
5,705	*	Quanta Services, Inc		223
1,477		Raven Industries, Inc		51
11,142		Raytheon Co		2,093
899	*	RBC Bearings, Inc		114
1,737		Regal-Beloit Corp		133
432		REV Group, Inc		14
439	*,e	Revolution Lighting Technologies, Inc		1
4,030	*	Rexnord Corp		105
4,932		Rockwell Automation, Inc		968
6,219		Rockwell Collins, Inc		843
3,824		Roper Industries, Inc		990
257	*	Rush Enterprises, Inc		12
1,200	*	Rush Enterprises, Inc (Class A)		61
6,314	*	Sensata Technologies Holding BV		323
1,581		Simpson Manufacturing Co, Inc		91
1,315	*	SiteOne Landscape Supply, Inc		101
2,169		Snap-On, Inc		378
460	*	Sparton Corp		11
4,506		Spirit Aerosystems Holdings, Inc (Class A)		393
1,707	*	SPX Corp		54
1,563	*	SPX FLOW, Inc		74
487		Standex International Corp		50
5,834		Stanley Works		990
1,004	*	Sterling Construction Co, Inc		16
922		Sun Hydraulics Corp		60
3,212	*,e	Sunrun, Inc		19
1,359	*	Teledyne Technologies, Inc		246
647		Tennant Co		47
3,162		Terex Corp		152
967	*,e	Textainer Group Holdings Ltd		21
9,942		Textron, Inc		563
431	*,e	The ExOne Company		4

11

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,276	*	Thermon Group Holdings	$	30
2,702		Timken Co		133
1,841		Titan International, Inc		24
784	*	Titan Machinery, Inc		17
3,845		Toro Co		251
400	*	TPI Composites, Inc		8
1,844		TransDigm Group, Inc		506
1,152	*	Trex Co, Inc		125
1,789	*	Trimas Corp		48
5,866		Trinity Industries, Inc		220
1,667		Triton International Ltd		62
1,896		Triumph Group, Inc		52
1,399	*	Tutor Perini Corp		35
343	*	Twin Disc, Inc		9
3,207	*	United Rentals, Inc		551
28,617		United Technologies Corp		3,651
4,022	*	Univar, Inc		125
2,325		Universal Forest Products, Inc		87
3,432	*	USG Corp		132
874		Valmont Industries, Inc		145
455	*	Vectrus, Inc		14
419	*	Veritiv Corp		12
649	*	Vicor Corp		14
1,991		W.W. Grainger, Inc		470
2,295		Wabash National Corp		50
1,869	*	WABCO Holdings, Inc		268
3,154	e	Wabtec Corp		257
1,090		Watsco, Inc		185
880		Watts Water Technologies, Inc (Class A)		67
5,066	*	Welbilt, Inc		119
2,328	*	Wesco Aircraft Holdings, Inc		17
1,864	*	WESCO International, Inc		127
67	*	Willis Lease Finance Corp		2
2,064		Woodward Governor Co		158
7,022		Xylem, Inc		479
		TOTAL CAPITAL GOODS		82,138
COMMERCIAL & PROFESSIONAL SERVICES - 0.9%
2,170		ABM Industries, Inc		82
2,247	*	Acacia Research (Acacia Technologies)		9
4,335	*	ACCO Brands Corp		53
954	*	Advanced Disposal Services, Inc		23
2,166	*	ARC Document Solutions, Inc		6
274		Barrett Business Services, Inc		18
198		BG Staffing, Inc		3
1,868		Brady Corp (Class A)		71
1,790		Brink’s Co		141
1,375	*	Casella Waste Systems, Inc (Class A)		32
2,160	*	CBIZ, Inc		33
948		Ceco Environmental Corp		5
3,264		Cintas Corp		509
2,053	*	Clean Harbors, Inc		111
586	*,e	Cogint, Inc		3

12

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
7,339	*	Copart, Inc	$	317
4,607		Covanta Holding Corp		78
364		CRA International, Inc		16
1,839		Deluxe Corp		141
1,448		Dun & Bradstreet Corp		171
6,139	*,†,m	Dyax Corp		7
1,051		Ennis, Inc		22
1,364		Essendant, Inc		13
997		Exponent, Inc		71
381		Forrester Research, Inc		17
419	*	Franklin Covey Co		9
1,597	*	FTI Consulting, Inc		69
494	*	GP Strategies Corp		11
2,765		Healthcare Services Group		146
711		Heidrick & Struggles International, Inc		17
555	*	Heritage-Crystal Clean, Inc		12
2,222		Herman Miller, Inc		89
1,049	*	Hill International, Inc		6
1,783		HNI Corp		69
1,406	*	Hudson Technologies, Inc		9
896	*	Huron Consulting Group, Inc		36
707	*	ICF International, Inc		37
14,622	*	IHS Markit Ltd		660
1,756	*	Innerworkings, Inc		18
1,374		Insperity, Inc		79
2,401		Interface, Inc		60
5,073		KAR Auction Services, Inc		256
1,192		Kelly Services, Inc (Class A)		33
1,045		Kforce, Inc		26
1,392		Kimball International, Inc (Class B)		26
1,970		Knoll, Inc		45
1,994		Korn/Ferry International		83
1,270		LSC Communications, Inc		19
2,498		Manpower, Inc		315
1,217		Matthews International Corp (Class A)		64
919		McGrath RentCorp		43
4,469	*,†,m	Media General, Inc		0
757	*	Mistras Group, Inc		18
1,705		Mobile Mini, Inc		59
1,290		MSA Safety, Inc		100
514		Multi-Color Corp		38
1,969	*	Navigant Consulting, Inc		38
13,969		Nielsen NV		508
563	*	NL Industries, Inc		8
1,977	*	On Assignment, Inc		127
7,274		Pitney Bowes, Inc		81
1,198		Quad Graphics, Inc		27
8,770		Republic Services, Inc		593
1,107		Resources Connection, Inc		17
4,841		Robert Half International, Inc		269
3,656		Rollins, Inc		170
1,727		RPX Corp		23
2,868		RR Donnelley & Sons Co		27

13

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
672	*	SP Plus Corp	$	25
3,128		Steelcase, Inc (Class A)		48
3,227	*	Stericycle, Inc		219
1,231	*	Team, Inc		18
2,101		Tetra Tech, Inc		101
5,950	*	TransUnion		327
1,603	*	TriNet Group, Inc		71
1,626	*	TrueBlue, Inc		45
592		Unifirst Corp		98
844		US Ecology, Inc		43
5,734	*	Verisk Analytics, Inc		550
795		Viad Corp		44
340		VSE Corp		16
1,451	*	WageWorks, Inc		90
16,930		Waste Management, Inc		1,461
279	*	Willdan Group, Inc		7
		TOTAL COMMERCIAL & PROFESSIONAL SERVICES		9,455
CONSUMER DURABLES & APPAREL - 1.4%
821	e	Acushnet Holdings Corp		17
2,238	*,e	American Outdoor Brands Corp		29
383		Bassett Furniture Industries, Inc		14
1,140	*	Beazer Homes USA, Inc		22
3,230		Brunswick Corp		178
2,804		CalAtlantic Group, Inc		158
3,598		Callaway Golf Co		50
1,735		Carter’s, Inc		204
237	*	Cavco Industries, Inc		36
707	*	Century Communities, Inc		22
727	*	Clarus Corp		6
1,106		Columbia Sportswear Co		79
2,849	*	CROCS, Inc		36
269		CSS Industries, Inc		7
447		Culp, Inc		15
1,222	*	Deckers Outdoor Corp		98
232	*	Delta Apparel, Inc		5
13,291		DR Horton, Inc		679
458		Escalade, Inc		6
958		Ethan Allen Interiors, Inc		27
273		Flexsteel Industries, Inc		13
1,713	*,e	Fossil Group, Inc		13
4,672		Garmin Ltd		278
1,666	*	G-III Apparel Group Ltd		61
4,066	*,e	GoPro, Inc		31
992	*	Green Brick Partners, Inc		11
364		Hamilton Beach Brands Holding Co		9
14,194	e	Hanesbrands, Inc		297
4,250		Hasbro, Inc		386
1,059	*	Helen of Troy Ltd		102
438		Hooker Furniture Corp		19
4,761	*	Hovnanian Enterprises, Inc (Class A)		16
845	*	Installed Building Products Inc		64
1,024	*,e	iRobot Corp		78

14

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
232		Johnson Outdoors, Inc	$	14
3,347		KB Home		107
1,887		La-Z-Boy, Inc		59
4,915		Leggett & Platt, Inc		235
582		Lennar Corp (B Shares)		30
7,741		Lennar Corp (Class A)		490
624	*,e	LGI Homes, Inc		47
847		Libbey, Inc		6
362		Lifetime Brands, Inc		6
3,534	*	Lululemon Athletica, Inc		278
862	*	M/I Homes, Inc		30
776	*	Malibu Boats Inc		23
441		Marine Products Corp		6
12,611	e	Mattel, Inc		194
673	*	MCBC Holdings, Inc		15
1,760		MDC Holdings, Inc		56
1,156	*	Meritage Homes Corp		59
5,533	*	Michael Kors Holdings Ltd		348
2,360	*	Mohawk Industries, Inc		651
638		Movado Group, Inc		21
182		Nacco Industries, Inc (Class A)		7
1,163	*	Nautilus, Inc		15
556	*	New Home Co Inc		7
18,470		Newell Rubbermaid, Inc		571
50,706		Nike, Inc (Class B)		3,172
130	*	NVR, Inc		456
621		Oxford Industries, Inc		47
546	*	Perry Ellis International, Inc		14
2,283		Polaris Industries, Inc		283
1,561		Pool Corp		202
10,676		Pulte Homes, Inc		355
2,916		PVH Corp		400
2,197		Ralph Lauren Corp		228
1,607	*,e	Sequential Brands Group, Inc		3
4,672	*	Skechers U.S.A., Inc (Class A)		177
2,305	*	Steven Madden Ltd		108
652		Sturm Ruger & Co, Inc		36
295		Superior Uniform Group, Inc		8
10,947		Tapestry, Inc		484
2,391	*	Taylor Morrison Home Corp		58
1,812	*	Tempur Sealy International, Inc		114
5,929		Toll Brothers, Inc		285
1,426	*	TopBuild Corp		108
6,145	*	TRI Pointe Homes, Inc		110
1,753		Tupperware Corp		110
7,306	*,e	Under Armour, Inc		97
7,201	*,e	Under Armour, Inc (Class A)		104
700	*	Unifi, Inc		25
585	*	Universal Electronics, Inc		28
1,001	*	Vera Bradley, Inc		12
12,484		VF Corp		924
2,174	*	Vista Outdoor, Inc		32
252		Weyco Group, Inc		7

15

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,738		Whirlpool Corp	$	462
889	*	William Lyon Homes, Inc		26
3,662		Wolverine World Wide, Inc		117
1,093	*	Zagg, Inc		20
		TOTAL CONSUMER DURABLES & APPAREL		14,953
CONSUMER SERVICES - 2.3%
2,413	*	Adtalem Global Education, Inc		102
675	*	American Public Education, Inc		17
9,028		ARAMARK Holdings Corp		386
416	*	Ascent Media Corp (Series A)		5
3,449	*	Belmond Ltd.		42
817		BJ’s Restaurants, Inc		30
3,148		Bloomin’ Brands, Inc		67
770		Bob Evans Farms, Inc		61
641	*	Bojangles’, Inc		8
3,239		Boyd Gaming Corp		114
877	*	Bridgepoint Education, Inc		7
1,976	*	Bright Horizons Family Solutions		186
1,545	e	Brinker International, Inc		60
616	*	Buffalo Wild Wings, Inc		96
5,015	*	Caesars Entertainment Corp		63
428		Capella Education Co		33
2,656	*	Career Education Corp		32
15,479		Carnival Corp		1,027
591		Carriage Services, Inc		15
1,345	*	Carrols Restaurant Group, Inc		16
761	*	Century Casinos, Inc		7
1,753	e	Cheesecake Factory		84
3,194	*	Chegg, Inc		52
991	*	Chipotle Mexican Grill, Inc (Class A)		286
1,319		Choice Hotels International, Inc		102
525		Churchill Downs, Inc		122
751	*	Chuy’s Holdings, Inc		21
328		Collectors Universe		9
721	e	Cracker Barrel Old Country Store, Inc		115
4,646		Darden Restaurants, Inc		446
1,638	*	Dave & Buster’s Entertainment, Inc		90
1,033	*	Del Frisco’s Restaurant Group, Inc		16
1,227	*	Del Taco Restaurants, Inc		15
2,646	*	Denny’s Corp		35
664	e	DineEquity, Inc		34
1,883		Domino’s Pizza, Inc		356
2,096		Drive Shack, Inc		12
3,356		Dunkin Brands Group, Inc		216
809	*	El Pollo Loco Holdings, Inc		8
1,789	*,e	Eldorado Resorts, Inc		59
125	*,e	Empire Resorts, Inc		3
6,386		Extended Stay America, Inc		121
1,005	*	Fiesta Restaurant Group, Inc		19
217	*	Fogo De Chao, Inc		3
412	*	Golden Entertainment, Inc		13
169		Graham Holdings Co		94

16

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,857	*	Grand Canyon Education, Inc	$	166
8,075		H&R Block, Inc		212
768	*,e	Habit Restaurants, Inc		7
2,287	*	Hilton Grand Vacations, Inc		96
8,361		Hilton Worldwide Holdings, Inc		668
4,089	*	Houghton Mifflin Harcourt Co		38
1,309	*	Hyatt Hotels Corp		96
4,167		ILG, Inc		119
4,144		International Game Technology plc		110
972		International Speedway Corp (Class A)		39
596	*	J Alexander’s Holdings, Inc		6
1,093		Jack in the Box, Inc		107
1,321	*	K12, Inc		21
3,205	*	La Quinta Holdings, Inc		59
13,679		Las Vegas Sands Corp		951
1,409	*	Laureate Education, Inc		19
203		Liberty Tax, Inc		2
608	*	Lindblad Expeditions Holdings, Inc		6
736		Marcus Corp		20
12,101		Marriott International, Inc (Class A)		1,643
849		Marriott Vacations Worldwide Corp		115
30,709		McDonald’s Corp		5,286
19,803		MGM Resorts International		661
388	*	Monarch Casino & Resort, Inc		17
133	*	Nathan’s Famous, Inc		10
400	*	Noodles & Co		2
6,304	*	Norwegian Cruise Line Holdings Ltd		336
1,063		Papa John’s International, Inc		60
3,355	*	Penn National Gaming, Inc		105
2,110	*	Pinnacle Entertainment, Inc		69
3,264	*	Planet Fitness, Inc		113
946	*	Potbelly Corp		12
330		RCI Hospitality Holdings, Inc		9
638	*	Red Lion Hotels Corp		6
500	*	Red Robin Gourmet Burgers, Inc		28
2,623		Red Rock Resorts, Inc		89
1,367	*	Regis Corp		21
6,579		Royal Caribbean Cruises Ltd		785
1,174		Ruth’s Chris Steak House, Inc		25
1,968	*	Scientific Games Corp (Class A)		101
2,698	*,e	SeaWorld Entertainment, Inc		37
7,130		Service Corp International		266
5,213	*	ServiceMaster Global Holdings, Inc		267
841	*,e	Shake Shack, Inc		36
2,790		Six Flags Entertainment Corp		186
1,512	e	Sonic Corp		42
1,487	*	Sotheby’s (Class A)		77
581		Speedway Motorsports, Inc		11
54,165		Starbucks Corp		3,111
39	*	Steak N Shake Co		16
417		Strayer Education, Inc		37
2,599		Texas Roadhouse, Inc (Class A)		137
1,540		Vail Resorts, Inc		327

17

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
715	*	Weight Watchers International, Inc	$	32
7,240		Wendy’s		119
1,127	e	Wingstop, Inc		44
3,991		Wyndham Worldwide Corp		462
3,016		Wynn Resorts Ltd		509
14,037		Yum China Holdings, Inc		562
13,254		Yum! Brands, Inc		1,082
805	*,e	Zoe’s Kitchen, Inc		13
		TOTAL CONSUMER SERVICES		24,313
DIVERSIFIED FINANCIALS - 4.1%
2,133		Affiliated Managers Group, Inc		438
1,028		AG Mortgage Investment Trust		20
13,893		AGNC Investment Corp		280
17,267		Ally Financial, Inc		504
28,192		American Express Co		2,800
5,676		Ameriprise Financial, Inc		962
39,873		Annaly Capital Management, Inc		474
3,633		Anworth Mortgage Asset Corp		20
3,555	e	Apollo Commercial Real Estate Finance, Inc		66
1,014		Ares Commercial Real Estate Corp		13
727	e	Arlington Asset Investment Corp (Class A)		9
1,518		ARMOUR Residential REIT, Inc		39
1,731		Artisan Partners Asset Management, Inc		68
269		Associated Capital Group, Inc		9
382		B. Riley Financial, Inc		7
38,613		Bank of New York Mellon Corp		2,080
8,951		BGC Partners, Inc (Class A)		135
4,767		BlackRock, Inc		2,449
2,523	*	Cannae Holdings, Inc		43
18,322		Capital One Financial Corp		1,824
3,681		Capstead Mortgage Corp		32
4,190		CBOE Holdings, Inc		522
45,446		Charles Schwab Corp		2,335
412		Cherry Hill Mortgage Investment Corp		7
7,165		Chimera Investment Corp		132
12,987		CME Group, Inc		1,897
853		Cohen & Steers, Inc		40
1,050	*	Cowen Group, Inc		14
436	*	Credit Acceptance Corp		141
5,937		CYS Investments, Inc		48
118		Diamond Hill Investment Group, Inc		24
14,083		Discover Financial Services		1,083
1,075	*	Donnelley Financial Solutions, Inc		21
1,860		Dynex Capital, Inc		13
10,469	*	E*TRADE Financial Corp		519
4,044		Eaton Vance Corp		228
588	*	Elevate Credit, Inc		4
248		Ellington Residential Mortgage REIT		3
978	*,e	Encore Capital Group, Inc		41
1,226	*	Enova International, Inc		19
1,565		Evercore Partners, Inc (Class A)		141
1,988	*	Ezcorp, Inc (Class A)		24

18

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,518		Factset Research Systems, Inc	$	293
3,795		Federated Investors, Inc (Class B)		137
2,248		Financial Engines, Inc		68
1,853		FirstCash, Inc		125
12,756		Franklin Resources, Inc		553
1,532		Gain Capital Holdings, Inc		15
181		GAMCO Investors, Inc (Class A)		5
13,527		Goldman Sachs Group, Inc		3,446
1,667		Granite Point Mortgage Trust, Inc		30
416		Great Ajax Corp		6
1,775	*	Green Dot Corp		107
1,124	e	Greenhill & Co, Inc		22
544		Hamilton Lane, Inc		19
1,871		Hannon Armstrong Sustainable Infrastructure Capital, Inc		45
836		Houlihan Lokey, Inc		38
2,624		Interactive Brokers Group, Inc (Class A)		155
22,398		IntercontinentalExchange Group, Inc		1,580
601	*	INTL FCStone, Inc		26
15,288		Invesco Ltd		559
4,389		Invesco Mortgage Capital, Inc		78
1,302		Investment Technology Group, Inc		25
10,912	e	iShares Russell 3000 Index Fund		1,726
419		KKR Real Estate Finance Trust, Inc		8
2,622		Ladder Capital Corp		36
5,033		Ladenburg Thalmann Financial Services, Inc		16
4,392		Lazard Ltd (Class A)		231
3,386		Legg Mason, Inc		142
12,454	*	LendingClub Corp		51
12,677		Leucadia National Corp		336
3,491		LPL Financial Holdings, Inc		199
1,365		MarketAxess Holdings, Inc		275
418		Marlin Business Services Corp		9
15,387		MFA Mortgage Investments, Inc		122
949		Moelis & Co		46
6,291		Moody’s Corp		929
50,567		Morgan Stanley		2,653
745		Morningstar, Inc		72
3,474		MSCI, Inc (Class A)		440
1,755		MTGE Investment Corp		32
4,411		NASDAQ OMX Group, Inc		339
11,108		Navient Corp		148
763		Nelnet, Inc (Class A)		42
10,944		New Residential Investment Corp		196
4,058	e	New York Mortgage Trust, Inc		25
959	*,m	NewStar Financial, Inc		1
7,987		Northern Trust Corp		798
2,164		OM Asset Management plc		36
2,011	*	On Deck Capital, Inc		12
1,607	*	OneMain Holdings, Inc		42
448		Oppenheimer Holdings, Inc		12
1,276	e	Orchid Island Capital, Inc		12
245		Owens Realty Mortgage, Inc		4
2,603		PennyMac Mortgage Investment Trust		42

19

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
896		Pico Holdings, Inc	$	11
553		Piper Jaffray Cos		48
727		PJT Partners, Inc		33
1,801	*,e	PRA Group, Inc		60
527		Pzena Investment Management, Inc (Class A)		6
4,885		Raymond James Financial, Inc		436
2,957		Redwood Trust, Inc		44
383	*	Regional Management Corp		10
1,443		Resource Capital Corp		14
9,884		S&P Global, Inc		1,674
808	*	Safeguard Scientifics, Inc		9
5,737		Santander Consumer USA Holdings, Inc		107
4,960		SEI Investments Co		356
298		Silvercrest Asset Management Group, Inc		5
16,893	*	SLM Corp		191
9,293		Starwood Property Trust, Inc		198
14,338		State Street Corp		1,400
2,581		Stifel Financial Corp		154
30,286		Synchrony Financial		1,169
9,028		T Rowe Price Group, Inc		947
9,635		TD Ameritrade Holding Corp		493
1,255		Tiptree Financial, Inc		7
427		TPG RE Finance Trust, Inc		8
6,757		Two Harbors Investment Corp		110
1,024	e	Virtu Financial, Inc		19
255		Virtus Investment Partners, Inc		29
6,894		Voya Financial, Inc		341
3,248		Waddell & Reed Financial, Inc (Class A)		73
1,589		Western Asset Mortgage Capital Corp		16
322		Westwood Holdings Group, Inc		21
4,611		WisdomTree Investments, Inc		58
229	*	World Acceptance Corp		18
607		ZAIS Financial Corp		9
		TOTAL DIVERSIFIED FINANCIALS		43,966
ENERGY - 5.7%
5,830	*	Abraxas Petroleum Corp		14
99		Adams Resources & Energy, Inc		4
21,668		Anadarko Petroleum Corp		1,162
5,836		Andeavor		667
9,010	*	Antero Resources Corp		171
14,634		Apache Corp		618
1,515	*	Approach Resources, Inc		4
841		Arch Coal, Inc		78
2,935		Archrock, Inc		31
985	*,e	Ardmore Shipping Corp		8
16,209		Baker Hughes a GE Co		513
661	*	Basic Energy Services, Inc		15
2,221	*	Bill Barrett Corp		11
784	*	Bonanza Creek Energy, Inc		22
1,469	e	Bristow Group, Inc		20
1,777	*	C&J Energy Services, Inc		59
17,461		Cabot Oil & Gas Corp		499

20

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,677	*,e	California Resources Corp	$	33
7,833	*	Callon Petroleum Co		95
905	*,e	CARBO Ceramics, Inc		9
2,286	*,e	Carrizo Oil & Gas, Inc		49
4,328	*	Centennial Resource Development, Inc		86
8,023	*	Cheniere Energy, Inc		432
32,228	*,e	Chesapeake Energy Corp		128
72,259		Chevron Corp		9,046
3,567		Cimarex Energy Co		435
5,167	*	Clean Energy Fuels Corp		10
2,858	*	Cloud Peak Energy, Inc		13
8,770	*	CNX Resources Corp		128
5,653	*	Concho Resources, Inc		849
46,712		ConocoPhillips		2,564
1,096	*	CONSOL Energy, Inc		43
670	*	Contango Oil & Gas Co		3
3,475	*	Continental Resources, Inc		184
612	e	CVR Energy, Inc		23
3,058		Delek US Holdings, Inc		107
15,050	*	Denbury Resources, Inc		33
20,091		Devon Energy Corp		832
2,870		DHT Holdings, Inc		10
2,618	*,e	Diamond Offshore Drilling, Inc		49
3,701	*	Diamondback Energy, Inc		467
1,163	*	Dorian LPG Ltd		10
1,470	*	Dril-Quip, Inc		70
384	*	Earthstone Energy, Inc		4
3,296	*	Eclipse Resources Corp		8
3,813	*	Energen Corp		220
1,132	*	Energy XXI Gulf Coast, Inc		6
16,300	e	Ensco plc		96
22,101		EOG Resources, Inc		2,385
1,448	*,e	EP Energy Corp		3
8,981		EQT Corp		511
891	*	Era Group, Inc		10
668		Evolution Petroleum Corp		5
1,256	*	Exterran Corp		39
4,719	*,e	Extraction Oil & Gas, Inc		68
162,753		Exxon Mobil Corp		13,612
5,927	*,e	Fairmount Santrol Holdings, Inc		31
2,612	*	Forum Energy Technologies, Inc		41
1,937		Frank’s International NV		13
2,830	e	Frontline Ltd		13
1,757		GasLog Ltd		39
7,137	*,e	Gastar Exploration, Inc		7
1,740	*	Gener8 Maritime, Inc		12
626	*	Geospace Technologies Corp		8
3,789	e	Golar LNG Ltd		113
1,490		Green Plains Renewable Energy, Inc		25
561		Gulf Island Fabrication, Inc		8
6,208	*	Gulfport Energy Corp		79
7,211	*	Halcon Resources Corp		55
557		Hallador Energy Co		3

21

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
33,134		Halliburton Co	$	1,619
5,378	*	Helix Energy Solutions Group, Inc		41
4,142	e	Helmerich & Payne, Inc		268
11,102		Hess Corp		527
6,919		HollyFrontier Corp		354
1,312	*	Independence Contract Drilling, Inc		5
1,110	*	International Seaways, Inc		20
30	*	Isramco, Inc		3
1,195	*	Jagged Peak Energy, Inc		19
1,187	*,e	Keane Group, Inc		23
384	*	Key Energy Services, Inc		5
73,587		Kinder Morgan, Inc		1,330
7,503	*	Kosmos Energy LLC		51
6,373	*	Laredo Petroleum Holdings, Inc		68
1,582	*,e	Lilis Energy, Inc		8
275	*	Mammoth Energy Services, Inc		5
33,383		Marathon Oil Corp		565
19,118		Marathon Petroleum Corp		1,261
3,403	*	Matador Resources Co		106
1,193	*	Matrix Service Co		21
10,793	*	McDermott International, Inc		71
377	*	Midstates Petroleum Co, Inc		6
6,404		Murphy Oil Corp		199
11,900		Nabors Industries Ltd		81
14,486		National Oilwell Varco, Inc		522
561	*	Natural Gas Services Group, Inc		15
3,582		Navios Maritime Acq Corp		4
410	*,e	NCS Multistage Holdings, Inc		6
7,829	*	Newfield Exploration Co		247
3,366	*	Newpark Resources, Inc		29
5,042	*	Noble Corp plc		23
18,837		Noble Energy, Inc		549
3,925	e	Nordic American Tanker Shipping		10
9,279	*	Oasis Petroleum, Inc		78
29,262		Occidental Petroleum Corp		2,155
3,828		Oceaneering International, Inc		81
2,073	*	Oil States International, Inc		59
14,305		Oneok, Inc		765
836	*	Overseas Shipholding Group, Inc		2
1,499	*	Pacific Ethanol, Inc		7
648		Panhandle Oil and Gas, Inc (Class A)		13
1,291	*	Par Pacific Holdings, Inc		25
5,410	*	Parker Drilling Co		5
9,019	*	Parsley Energy, Inc		266
8,122		Patterson-UTI Energy, Inc		187
4,259		PBF Energy, Inc		151
2,579	*	PDC Energy, Inc		133
1,871	*	Peabody Energy Corp		74
544	*	Penn Virginia Corp		21
620	*	PHI, Inc		7
16,729		Phillips 66		1,692
2,681	*	Pioneer Energy Services Corp		8
6,506		Pioneer Natural Resources Co		1,125

22

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
938	*,e	ProPetro Holding Corp	$	19
9,406	*	Questar Market Resources, Inc		90
8,947		Range Resources Corp		153
1,467	*	Renewable Energy Group, Inc		17
838	*,e	Resolute Energy Corp		26
234	*	Rex American Resources Corp		19
611	*	RigNet, Inc		9
1,749	*	Ring Energy, Inc		24
4,518	*	Rowan Cos plc		71
2,256	e	RPC, Inc		58
5,131	*	RSP Permian, Inc		209
2,726	*,e	Sanchez Energy Corp		14
1,269	*	SandRidge Energy, Inc		27
52,921		Schlumberger Ltd		3,566
6,794		Scorpio Tankers, Inc		21
617	*	SEACOR Holdings, Inc		29
629	*	SEACOR Marine Holdings, Inc		7
351	*,e	Select Energy Services, Inc		6
2,570		SemGroup Corp		78
2,365		Ship Finance International Ltd		37
253	*	SilverBow Resources, Inc		8
4,345		SM Energy Co		96
801	*,e	Smart Sand, Inc		7
369	*	Solaris Oilfield Infrastructure, Inc		8
19,699	*	Southwestern Energy Co		110
7,633	*	SRC Energy, Inc		65
749	*	Stone Energy Corp		24
5,923	*	Superior Energy Services		57
7,616		Targa Resources Investments, Inc		369
2,010		Teekay Corp		19
3,273	e	Teekay Tankers Ltd (Class A)		5
2,116	*,e	Tellurian, Inc		21
3,896	*	Tetra Technologies, Inc		17
15,313	*	Transocean Ltd (NYSE)		164
5,684	*	Ultra Petroleum Corp		51
1,986	*	Unit Corp		44
5,127	*,e	Uranium Energy Corp		9
3,143		US Silica Holdings Inc		102
17,103		Valero Energy Corp		1,572
3,587	*	W&T Offshore, Inc		12
34,561	*	Weatherford International Ltd		144
3,512	*	Whiting Petroleum Corp		93
705	*,e	WildHorse Resource Development Corp		13
31,889		Williams Cos, Inc		972
2,651		World Fuel Services Corp		75
15,377	*	WPX Energy, Inc		216
		TOTAL ENERGY		60,686
FOOD & STAPLES RETAILING - 1.3%
1,108		Andersons, Inc		35
1,519		Casey’s General Stores, Inc		170
776	*	Chefs’ Warehouse Holdings, Inc		16
39,103		CVS Health Corp		2,835

23

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
555		Ingles Markets, Inc (Class A)	$	19
34,501		Kroger Co		947
345	*,e	Natural Grocers by Vitamin C		3
2,701	*	Performance Food Group Co		89
833		Pricesmart, Inc		72
34,626	*,e	Rite Aid Corp		68
1,024	*	Smart & Final Stores, Inc		9
957		Spartan Stores, Inc		26
5,274	*	Sprouts Farmers Market, Inc		128
888	*	SUPERVALU, Inc		19
18,975		Sysco Corp		1,152
2,032	*	United Natural Foods, Inc		100
7,566	*	US Foods Holding Corp		242
292		Village Super Market (Class A)		7
33,626		Walgreens Boots Alliance, Inc		2,442
55,236		Wal-Mart Stores, Inc		5,454
313		Weis Markets, Inc		13
		TOTAL FOOD & STAPLES RETAILING		13,846
FOOD, BEVERAGE & TOBACCO - 4.4%
136		Alico, Inc		4
73,920		Altria Group, Inc		5,279
1,205	*,e	Amplify Snack Brands, Inc		14
21,050		Archer Daniels Midland Co		844
2,508	e	B&G Foods, Inc (Class A)		88
3,660	*	Blue Buffalo Pet Products, Inc		120
344	*,e	Boston Beer Co, Inc (Class A)		66
1,865		Brown-Forman Corp		125
6,593		Brown-Forman Corp (Class B)		453
5,296		Bunge Ltd		355
583	e	Calavo Growers, Inc		49
1,263	*,e	Cal-Maine Foods, Inc		56
6,999		Campbell Soup Co		337
3,333	*,e	Castle Brands, Inc		4
185		Coca-Cola Bottling Co Consolidated		40
147,181		Coca-Cola Co		6,753
15,214		ConAgra Foods, Inc		573
6,186		Constellation Brands, Inc (Class A)		1,414
16,728		Costco Wholesale Corp		3,113
418	*	Craft Brewers Alliance, Inc		8
6,364	*	Darling International, Inc		115
3,513		Dean Foods Co		41
6,820		Dr Pepper Snapple Group, Inc		662
288	*	Farmer Bros Co		9
6,808		Flowers Foods, Inc		131
1,315		Fresh Del Monte Produce, Inc		63
901	*,e	Freshpet, Inc		17
22,018		General Mills, Inc		1,305
3,970	*	Hain Celestial Group, Inc		168
5,338		Hershey Co		606
10,106		Hormel Foods Corp		368
3,112	*	Hostess Brands, Inc		46
2,632		Ingredion, Inc		368

24

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
585		J&J Snack Foods Corp	$	89
4,288		J.M. Smucker Co		533
368		John B. Sanfilippo & Son, Inc		23
9,466		Kellogg Co		643
22,935		Kraft Heinz Co		1,783
5,453		Lamb Weston Holdings, Inc		308
621		Lancaster Colony Corp		80
1,056	*	Landec Corp		13
179	*	Lifeway Foods, Inc		1
443		Limoneira Co		10
4,446		McCormick & Co, Inc		453
476		MGP Ingredients, Inc		37
6,722		Molson Coors Brewing Co (Class B)		552
56,279		Mondelez International, Inc		2,409
15,651	*	Monster Beverage Corp		991
457		National Beverage Corp		45
54,796		PepsiCo, Inc		6,571
59,398		Philip Morris International, Inc		6,275
2,078	*	Pilgrim’s Pride Corp		65
4,626		Pinnacle Foods, Inc		275
2,539	*	Post Holdings, Inc		201
845	*	Primo Water Corp		11
787		Sanderson Farms, Inc		109
10		Seaboard Corp		44
365	*	Seneca Foods Corp		11
3,317		Snyder’s-Lance, Inc		166
317	e	Tootsie Roll Industries, Inc		12
2,158	*	TreeHouse Foods, Inc		107
183		Turning Point Brands, Inc		4
10,652		Tyson Foods, Inc (Class A)		864
917		Universal Corp		48
3,082		Vector Group Ltd		69
		TOTAL FOOD, BEVERAGE & TOBACCO		46,396
HEALTH CARE EQUIPMENT & SERVICES - 5.3%
338	*,e	AAC Holdings, Inc		3
855		Abaxis, Inc		42
64,835		Abbott Laboratories		3,700
1,581	*	Abiomed, Inc		296
3,023	*	Acadia Healthcare Co, Inc		99
3,073	*,e	Accuray, Inc		13
1,212		Aceto Corp		13
255	*	Addus HomeCare Corp		9
12,398		Aetna Inc		2,236
3,042	*	Align Technology, Inc		676
7,075	*	Allscripts Healthcare Solutions, Inc		103
495	*	Almost Family, Inc		27
1,099	*	Amedisys, Inc		58
368	*	American Renal Associates Holdings, Inc		6
6,213		AmerisourceBergen Corp		570
1,811	*	AMN Healthcare Services, Inc		89
482		Analogic Corp		40
1,310	*	Angiodynamics, Inc		22

25

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
566	*	Anika Therapeutics, Inc	$	31
5,621	*	Antares Pharma, Inc		11
9,886		Anthem, Inc		2,224
1,539	*	athenahealth, Inc		205
1,229	*	AtriCure, Inc		22
55		Atrion Corp		35
1,009	*	AxoGen, Inc		29
19,042		Baxter International, Inc		1,231
9,920		Becton Dickinson & Co		2,124
4,529	*,e	BioScrip, Inc		13
1,148	*	BioTelemetry, Inc		34
52,317	*	Boston Scientific Corp		1,297
7,134	*	Brookdale Senior Living, Inc		69
1,418		Cantel Medical Corp		146
1,019	*	Capital Senior Living Corp		14
12,178		Cardinal Health, Inc		746
1,207	*	Cardiovascular Systems, Inc		29
2,441	*,e	Castlight Health, Inc		9
6,466	*	Centene Corp		652
11,026	*	Cerner Corp		743
4,212	*	Cerus Corp		14
611		Chemed Corp		148
9,188		Cigna Corp		1,866
504	*	Civitas Solutions, Inc		9
3,787	*,e	Community Health Systems, Inc		16
481	e	Computer Programs & Systems, Inc		14
1,529	*,e	ConforMIS, Inc		4
1,071		Conmed Corp		55
1,827		Cooper Cos, Inc		398
2,996	*,e	Corindus Vascular Robotics, Inc		3
368	*	Corvel Corp		19
1,020	*	Cotiviti Holdings, Inc		33
1,273	*	Cross Country Healthcare, Inc		16
1,250	*	CryoLife, Inc		24
593	*	Cutera, Inc		27
23,444		Danaher Corp		2,176
6,092	*	DaVita, Inc		440
8,598		Dentsply Sirona, Inc		566
3,340	*	DexCom, Inc		192
1,886	*	Diplomat Pharmacy, Inc		38
7,923	*	Edwards Lifesciences Corp		893
3,300	*	Endologix, Inc		18
1,885		Ensign Group, Inc		42
482	*	Entellus Medical, Inc		12
4,540	*	Envision Healthcare Corp		157
1,492	*,e	Evolent Health, Inc		18
408	*	Exactech, Inc		20
22,097	*	Express Scripts Holding Co		1,649
229	*	FONAR Corp		6
1,393	*,e	Genesis Health Care, Inc		1
1,865	*	GenMark Diagnostics, Inc		8
1,112	*,e	Glaukos Corp		29
2,762	*	Globus Medical, Inc		114

26

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,039	*	Haemonetics Corp	$	118
1,812	*	Halyard Health, Inc		84
11,215	*	HCA Holdings, Inc		985
1,932	*	HealthEquity, Inc		90
3,477	*	HealthSouth Corp		172
1,071	*	HealthStream, Inc		25
6,040	*	Henry Schein, Inc		422
236	*	Heska Corp		19
2,532		Hill-Rom Holdings, Inc		213
3,262	*	HMS Holdings Corp		55
10,945	*	Hologic, Inc		468
5,525		Humana, Inc		1,371
588	*	ICU Medical, Inc		127
3,335	*	Idexx Laboratories, Inc		522
672	*	Inogen Inc		80
2,425	*,e	Inovalon Holdings, Inc		36
2,272	*	Insulet Corp		157
935	*	Integer Holding Corp		42
2,413	*	Integra LifeSciences Holdings Corp		116
4,197	*	Intuitive Surgical, Inc		1,532
1,260		Invacare Corp		21
528	*	iRhythm Technologies, Inc		30
1,571	*	K2M Group Holdings, Inc		28
3,505		Kindred Healthcare, Inc		34
3,904	*	Laboratory Corp of America Holdings		623
982	*	Lantheus Holdings, Inc		20
562		LeMaitre Vascular, Inc		18
593	*	LHC Group, Inc		36
1,442	*	LifePoint Hospitals, Inc		72
1,887	*	LivaNova plc		151
735	*	Magellan Health Services, Inc		71
1,746	*	Masimo Corp		148
8,105		McKesson Corp		1,264
2,192	*	Medidata Solutions, Inc		139
3,569	*	MEDNAX, Inc		191
52,500		Medtronic plc		4,240
1,637		Meridian Bioscience, Inc		23
1,836	*	Merit Medical Systems, Inc		79
1,721	*	Molina Healthcare, Inc		132
685	*,e	NantHealth, Inc		2
212		National Healthcare Corp		13
357		National Research Corp		13
1,257	*	Natus Medical, Inc		48
1,449	*	Neogen Corp		119
1,074	*	Nevro Corp		74
2,085	*	Novocure Ltd		42
1,937	*	NuVasive, Inc		113
2,539	*	NxStage Medical, Inc		62
343	*	Obalon Therapeutics, Inc		2
1,384	*	Omnicell, Inc		67
2,181	*	OraSure Technologies, Inc		41
679	*	Orthofix International NV		37
2,343		Owens & Minor, Inc		44

27

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
919	*	Oxford Immunotec Global plc	$	13
3,229		Patterson Cos, Inc		117
1,140	*	Penumbra, Inc		107
275	*,e	PetIQ, Inc		6
1,594	*	Premier, Inc		47
495	*	Providence Service Corp		29
356	*,e	Pulse Biosciences, Inc		8
1,960	*	Quality Systems, Inc		27
5,188		Quest Diagnostics, Inc		511
1,084	*	Quidel Corp		47
978	*,e	Quotient Ltd		5
3,887	*	R1 RCM, Inc		17
1,510	*	RadNet, Inc		15
5,278		Resmed, Inc		447
1,891	*,e	Rockwell Medical, Inc		11
2,673	*	RTI Biologics, Inc		11
4,065	*	Select Medical Holdings Corp		72
549	*,e	Sientra, Inc		8
414		Simulations Plus, Inc		7
1,741	*	Staar Surgical Co		27
3,269		STERIS Plc		286
13,042		Stryker Corp		2,019
643	*,e	Surgery Partners, Inc		8
516	*	SurModics, Inc		14
350	*	Tabula Rasa HealthCare, Inc		10
357	*,e	Tactile Systems Technology, Inc		10
2,089	*,e	Teladoc, Inc		73
1,689		Teleflex, Inc		420
3,172	*,e	Tenet Healthcare Corp		48
1,422	*	Tivity Health, Inc		52
948	*	Triple-S Management Corp (Class B)		24
36,643		UnitedHealth Group, Inc		8,078
3,263		Universal Health Services, Inc (Class B)		370
468		US Physical Therapy, Inc		34
149		Utah Medical Products, Inc		12
1,492	*	Varex Imaging Corp		60
3,475	*	Varian Medical Systems, Inc		386
4,180	*	Veeva Systems, Inc		231
1,068	*,e	ViewRay, Inc		10
612	*,e	Viveve Medical, Inc		3
1,082	*	Vocera Communications, Inc		33
1,739	*	WellCare Health Plans, Inc		350
2,710		West Pharmaceutical Services, Inc		267
4,098	*	Wright Medical Group NV		91
7,741		Zimmer Holdings, Inc		934
		TOTAL HEALTH CARE EQUIPMENT & SERVICES		56,677
HOUSEHOLD & PERSONAL PRODUCTS - 1.6%
400	*	Central Garden & Pet Co		16
1,366	*	Central Garden and Pet Co (Class A)		51
9,498		Church & Dwight Co, Inc		477
4,937		Clorox Co		734
32,882		Colgate-Palmolive Co		2,481

28

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
17,354		Coty, Inc	$	345
2,241	*	Edgewell Personal Care Co		133
812	*,e	elf Beauty, Inc		18
2,362		Energizer Holdings, Inc		113
8,343		Estee Lauder Cos (Class A)		1,062
2,687	*,e	Herbalife Ltd		182
4,642	*	HRG Group, Inc		79
735		Inter Parfums, Inc		32
13,570		Kimberly-Clark Corp		1,637
385		Medifast, Inc		27
325		Natural Health Trends Corp		5
537		Nature’s Sunshine Products, Inc		6
2,014		Nu Skin Enterprises, Inc (Class A)		137
255		Oil-Dri Corp of America		11
289	e	Orchids Paper Products Co		4
98,271		Procter & Gamble Co		9,029
480	*,e	Revlon, Inc (Class A)		10
959		Spectrum Brands, Inc		108
426	*	USANA Health Sciences, Inc		32
538		WD-40 Co		63
		TOTAL HOUSEHOLD & PERSONAL PRODUCTS		16,792
INSURANCE - 4.2%
14,838		Aflac, Inc		1,302
576	*	Alleghany Corp		343
13,924		Allstate Corp		1,458
1,747	*	AMBAC Financial Group, Inc		28
3,330		American Equity Investment Life Holding Co		102
2,671		American Financial Group, Inc		290
34,461		American International Group, Inc		2,053
284		American National Insurance Co		36
751		Amerisafe, Inc		46
3,256	e	Amtrust Financial Services, Inc		33
9,586		Aon plc		1,285
4,498	*	Arch Capital Group Ltd		408
1,126		Argo Group International Holdings Ltd		69
6,620		Arthur J. Gallagher & Co		419
2,327		Aspen Insurance Holdings Ltd		94
2,139		Assurant, Inc		216
4,689		Assured Guaranty Ltd		159
3,853	*	Athene Holding Ltd		199
493	*	Atlas Financial Holdings, Inc		10
3,256		Axis Capital Holdings Ltd		164
422		Baldwin & Lyons, Inc (Class B)		10
73,802	*	Berkshire Hathaway, Inc (Class B)		14,629
265		Blue Capital Reinsurance Holdings Ltd		3
2,994	*	Brighthouse Financial, Inc		176
4,533		Brown & Brown, Inc		233
17,830		Chubb Ltd		2,606
5,815		Cincinnati Financial Corp		436
2,162	*,e	Citizens, Inc (Class A)		16
758		CNA Financial Corp		40
6,647		Conseco, Inc		164

29

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
723		Crawford & Co (Class B)	$	7
406		Donegal Group, Inc (Class A)		7
746	*	eHealth, Inc		13
252		EMC Insurance Group, Inc		7
1,239		Employers Holdings, Inc		55
437	*	Enstar Group Ltd		88
983		Erie Indemnity Co (Class A)		120
1,587		Everest Re Group Ltd		351
371		FBL Financial Group, Inc (Class A)		26
485		Federated National Holding Co		8
4,199		First American Financial Corp		235
10,157		FNF Group		399
19,503	*	Genworth Financial, Inc (Class A)		61
328	*	Global Indemnity Ltd		14
621	*	Greenlight Capital Re Ltd (Class A)		12
368	*	Hallmark Financial Services		4
1,661		Hanover Insurance Group, Inc		180
13,765		Hartford Financial Services Group, Inc		775
290		HCI Group, Inc		9
443	*	Health Insurance Innovations, Inc		11
1,074		Heritage Insurance Holdings, Inc		19
1,591		Horace Mann Educators Corp		70
345		Independence Holding Co		9
439		Infinity Property & Casualty Corp		47
62		Investors Title Co		12
646		James River Group Holdings Ltd		26
1,469		Kemper Corp		101
379		Kingstone Cos, Inc		7
566		Kinsale Capital Group, Inc		25
8,318		Lincoln National Corp		639
10,573		Loews Corp		529
2,565		Maiden Holdings Ltd		17
519	*	Markel Corp		591
19,576		Marsh & McLennan Cos, Inc		1,593
4,904	*,e	MBIA, Inc		36
1,072		Mercury General Corp		57
34,604		Metlife, Inc		1,750
1,991		National General Holdings Corp		39
92		National Western Life Group, Inc		30
808		Navigators Group, Inc		39
394	*	NI Holdings, Inc		7
9,269		Old Republic International Corp		198
1,776		Primerica, Inc		180
10,218		Principal Financial Group		721
1,956		ProAssurance Corp		112
22,143		Progressive Corp		1,247
16,395		Prudential Financial, Inc		1,885
2,511		Reinsurance Group of America, Inc (Class A)		392
1,586		RenaissanceRe Holdings Ltd		199
1,544		RLI Corp		94
591		Safety Insurance Group, Inc		48
2,223		Selective Insurance Group, Inc		131
630		State Auto Financial Corp		18

30

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
815		Stewart Information Services Corp	$	34
2,745	*	Third Point Reinsurance Ltd		40
4,319		Torchmark Corp		392
10,520		Travelers Cos, Inc		1,427
855	*	Trupanion, Inc		25
844		United Fire & Casualty Co		38
739		United Insurance Holdings Corp		13
1,340		Universal Insurance Holdings, Inc		37
8,647		UnumProvident Corp		475
3,022		Validus Holdings Ltd		142
3,567		W.R. Berkley Corp		256
155		White Mountains Insurance Group Ltd		132
4,835		Willis Towers Watson plc		729
9,976		XL Group Ltd		351
		TOTAL INSURANCE		44,368
MATERIALS - 3.4%
1,126		A. Schulman, Inc		42
788	e	Advanced Emissions Solutions, Inc		8
1,237	*	AdvanSix, Inc		52
801	*	AgroFresh Solutions, Inc		6
8,156		Air Products & Chemicals, Inc		1,338
12,220	*	AK Steel Holding Corp		69
4,207		Albemarle Corp		538
7,210	*	Alcoa Corp		388
4,202	*	Allegheny Technologies, Inc		101
1,143		American Vanguard Corp		22
340		Ampco-Pittsburgh Corp		4
2,415		Aptargroup, Inc		208
716		Ardagh Group S.A.		15
2,222		Ashland Global Holdings, Inc		158
3,291		Avery Dennison Corp		378
8,232	*	Axalta Coating Systems Ltd		266
1,227		Balchem Corp		99
13,140		Ball Corp		497
3,500		Bemis Co, Inc		167
4,805	*	Berry Plastics Group, Inc		282
1,581		Boise Cascade Co		63
2,347		Cabot Corp		145
1,971		Calgon Carbon Corp		42
1,812		Carpenter Technology Corp		92
5,270		Celanese Corp (Series A)		564
1,952	*	Century Aluminum Co		38
9,130		CF Industries Holdings, Inc		388
284		Chase Corp		34
6,892		Chemours Co		345
623	*	Clearwater Paper Corp		28
9,437	*	Cleveland-Cliffs, Inc		68
1,314	*	Codexis, Inc		11
9,978	*	Coeur Mining, Inc		75
4,501		Commercial Metals Co		96
1,309	e	Compass Minerals International, Inc		95
261		Core Molding Technologies, Inc		6

31

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,958	*	Crown Holdings, Inc	$	279
439		Deltic Timber Corp		40
2,440		Domtar Corp		121
89,525		DowDuPont, Inc		6,376
1,847		Eagle Materials, Inc		209
5,514		Eastman Chemical Co		511
9,760		Ecolab, Inc		1,310
3,191	*	Ferro Corp		75
2,943	*,m	Ferroglobe plc		0
2,151	*	Flotek Industries, Inc		10
5,066		FMC Corp		480
51,818	*	Freeport-McMoRan Copper & Gold, Inc (Class B)		982
954		FutureFuel Corp		13
2,797	*	GCP Applied Technologies, Inc		89
2,189		Gold Resource Corp		10
12,219		Graphic Packaging Holding Co		189
203		Greif, Inc		14
985		Greif, Inc (Class A)		60
1,961		H.B. Fuller Co		106
377		Hawkins, Inc		13
501		Haynes International, Inc		16
14,849		Hecla Mining Co		59
7,865		Huntsman Corp		262
1,659	*	Ingevity Corp		117
803		Innophos Holdings, Inc		38
974		Innospec, Inc		69
2,996		International Flavors & Fragrances, Inc		457
15,786		International Paper Co		915
3,628	*	Intrepid Potash, Inc		17
656		Kaiser Aluminum Corp		70
3,390		Kapstone Paper and Packaging Corp		77
6,735	*	Klondex Mines Ltd		18
329		KMG Chemicals, Inc		22
850	*	Koppers Holdings, Inc		43
1,207	*	Kraton Polymers LLC		58
893		Kronos Worldwide, Inc		23
5,593	*	Louisiana-Pacific Corp		147
901	*,e	LSB Industries, Inc		8
12,366		LyondellBasell Industries AF S.C.A		1,364
2,472		Martin Marietta Materials, Inc		546
774		Materion Corp		38
1,370		Minerals Technologies, Inc		94
16,781		Monsanto Co		1,960
13,749		Mosaic Co		353
871		Myers Industries, Inc		17
642		Neenah Paper, Inc		58
278		NewMarket Corp		111
20,144		Newmont Mining Corp		756
12,228		Nucor Corp		777
6,399		Olin Corp		228
395		Olympic Steel, Inc		9
1,779	*	Omnova Solutions, Inc		18
5,702	*	Owens-Illinois, Inc		126

32

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,656		Packaging Corp of America	$	441
1,827		PH Glatfelter Co		39
8,571	*	Platform Specialty Products Corp		85
3,172		PolyOne Corp		138
9,767		PPG Industries, Inc		1,141
890	*	PQ Group Holdings, Inc		15
10,878		Praxair, Inc		1,683
510		Quaker Chemical Corp		77
1,744		Rayonier Advanced Materials, Inc		36
2,559		Reliance Steel & Aluminum Co		220
2,780		Royal Gold, Inc		228
4,842		RPM International, Inc		254
592	*	Ryerson Holding Corp		6
1,051		Schnitzer Steel Industries, Inc (Class A)		35
1,182		Schweitzer-Mauduit International, Inc		54
1,569		Scotts Miracle-Gro Co (Class A)		168
7,340		Sealed Air Corp		362
1,713		Sensient Technologies Corp		125
3,117		Sherwin-Williams Co		1,278
2,434		Silgan Holdings, Inc		72
3,576		Sonoco Products Co		190
3,201		Southern Copper Corp (NY)		152
9,128		Steel Dynamics, Inc		394
775		Stepan Co		61
4,288	*	Summit Materials, Inc		135
2,524	*	SunCoke Energy, Inc		30
11,807		Tahoe Resources, Inc		57
1,535	*	TimkenSteel Corp		23
970	*	Trecora Resources		13
1,164		Tredegar Corp		22
1,701		Trinseo S.A.		124
2,505		Tronox Ltd		51
226	*	UFP Technologies, Inc		6
66		United States Lime & Minerals, Inc		5
6,801		United States Steel Corp		239
577	*,e	US Concrete, Inc		48
882		Valhi, Inc		5
7,329		Valvoline, Inc		184
1,233	*	Verso Corp		22
5,018		Vulcan Materials Co		644
565		Warrior Met Coal, Inc		14
1,396		Westlake Chemical Corp		149
9,466		WestRock Co		598
1,742		Worthington Industries, Inc		77
2,489		WR Grace and Co		175
		TOTAL MATERIALS		36,361
MEDIA - 2.6%
2,111	e	AMC Entertainment Holdings, Inc		32
2,104	*	AMC Networks, Inc		114
184		Cable One, Inc		129
13,006		CBS Corp (Class B)		767

33

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,461	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)	$	16
7,076	*	Charter Communications, Inc		2,377
4,142		Cinemark Holdings, Inc		144
1,723		Clear Channel Outdoor Holdings, Inc (Class A)		8
178,323		Comcast Corp (Class A)		7,142
46	*,e	Daily Journal Corp		11
5,957	*,e	Discovery Communications, Inc (Class A)		133
8,196	*	Discovery Communications, Inc (Class C)		173
8,615	*	DISH Network Corp (Class A)		411
568		Emerald Expositions Events, Inc		12
1,655		Entercom Communications Corp (Class A)		18
2,637		Entravision Communications Corp (Class A)		19
798	*,e	Eros International plc		8
2,274	*	EW Scripps Co (Class A)		36
4,415		Gannett Co, Inc		51
2,680	*	Gray Television, Inc		45
408	*	Hemisphere Media Group, Inc		5
2,264	*	Imax Corp		52
14,811		Interpublic Group of Cos, Inc		299
1,677		John Wiley & Sons, Inc (Class A)		110
428	*	Liberty Braves Group (Class A)		9
1,434	*	Liberty Braves Group (Class C)		32
977	*	Liberty Broadband Corp (Class A)		83
4,040	*	Liberty Broadband Corp (Class C)		344
998	*	Liberty Media Group (Class A)		33
6,647	*	Liberty Media Group (Class C)		227
3,486	*	Liberty SiriusXM Group (Class A)		138
6,998	*	Liberty SiriusXM Group (Class C)		278
2,000	*	Lions Gate Entertainment Corp (Class A)		68
3,835	*	Lions Gate Entertainment Corp (Class B)		122
5,305	*	Live Nation, Inc		226
190	*	Loral Space & Communications, Inc		8
729	*	Madison Square Garden Co		154
2,109	*	MDC Partners, Inc		21
1,545		Meredith Corp		102
2,361	*	MSG Networks, Inc		48
2,714		National CineMedia, Inc		19
1,956		New Media Investment Group, Inc		33
4,795		New York Times Co (Class A)		89
13,730		News Corp		223
4,708		News Corp (Class B)		78
1,776		Nexstar Broadcasting Group, Inc (Class A)		139
8,859		Omnicom Group, Inc		645
787	*	Reading International, Inc		13
4,416		Regal Entertainment Group (Class A)		102
243	*,m	Rovi Guides, Inc		1
175		Saga Communications, Inc		7
415		Salem Communications		2
1,096		Scholastic Corp		44
3,149		Scripps Networks Interactive (Class A)		269
2,721	e	Sinclair Broadcast Group, Inc (Class A)		103
54,913	e	Sirius XM Holdings, Inc		294
8,405		TEGNA, Inc		118
29,589		Time Warner, Inc		2,706

34

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,869		Time, Inc	$	71
322	*	Townsquare Media, Inc		2
2,837		Tribune Co		120
780	*	tronc, Inc		14
39,819		Twenty-First Century Fox, Inc		1,375
16,626		Twenty-First Century Fox, Inc (Class B)		567
411		Viacom, Inc		14
13,170		Viacom, Inc (Class B)		406
59,373		Walt Disney Co		6,383
806	*	WideOpenWest, Inc		9
1,509		World Wrestling Entertainment, Inc (Class A)		46
		TOTAL MEDIA		27,897
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.9%
61,168		AbbVie, Inc		5,916
1,001	*,e	Abeona Therapeutics, Inc		16
3,739	*	Acadia Pharmaceuticals, Inc		113
987	*,e	Accelerate Diagnostics, Inc		26
1,231	*	Acceleron Pharma, Inc		52
1,147	*,e	Achaogen, Inc		12
4,855	*	Achillion Pharmaceuticals, Inc		14
797	*	Aclaris Therapeutics, Inc		20
1,689	*	Acorda Therapeutics, Inc		36
711	*,e	Adamas Pharmaceuticals, Inc		24
1,602	*,e	Aduro Biotech, Inc		12
1,291	*,e	Advaxis, Inc		4
1,175	*	Aerie Pharmaceuticals, Inc		70
2,830	*,e	Agenus, Inc		9
12,411		Agilent Technologies, Inc		831
1,631	*	Agios Pharmaceuticals, Inc		93
1,385	*	Aimmune Therapeutics, Inc		52
574	*,e	Akcea Therapeutics, Inc		10
1,440	*	Akebia Therapeutics, Inc		21
3,444	*	Akorn, Inc		111
3,639	*	Alder Biopharmaceuticals, Inc		42
8,409	*	Alexion Pharmaceuticals, Inc		1,006
5,962	*	Alkermes plc		326
12,858		Allergan plc		2,103
3,288	*	Alnylam Pharmaceuticals, Inc		418
1,423	*	AMAG Pharmaceuticals, Inc		19
28,316		Amgen, Inc		4,924
5,590	*	Amicus Therapeutics, Inc		80
1,331	*	Amphastar Pharmaceuticals, Inc		26
679	*	AnaptysBio, Inc		68
1,289	*,e	Anavex Life Sciences Corp		4
292	*	ANI Pharmaceuticals, Inc		19
1,565	*	Aratana Therapeutics, Inc		8
894	*	Ardelyx, Inc		6
1,252	*	Arena Pharmaceuticals, Inc		43
6,749	*	Array Biopharma, Inc		86
541	*	Assembly Biosciences, Inc		25
1,080	*,e	Asterias Biotherapeutics, Inc		2
969	*,e	Atara Biotherapeutics, Inc		18

35

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,944	*,e	Athersys, Inc	$	5
576	*	Audentes Therapeutics, Inc		18
1,147	*	Avexis, Inc		127
1,155	*	Axovant Sciences Ltd		6
873	*,e	Bellicum Pharmaceuticals, Inc		7
3,132	*	BioCryst Pharmaceuticals, Inc		15
8,204	*	Biogen Idec, Inc		2,614
387	*	Biohaven Pharmaceutical Holding Co Ltd		10
6,819	*	BioMarin Pharmaceutical, Inc		608
826	*	Bio-Rad Laboratories, Inc (Class A)		197
213	*	Biospecifics Technologies Corp		9
1,318		Bio-Techne Corp		171
2,650	*	BioTime, Inc		6
4,244	*	Bioverativ, Inc		229
1,782	*	Bluebird Bio, Inc		317
1,516	*	Blueprint Medicines Corp		114
63,071		Bristol-Myers Squibb Co		3,865
4,110		Bruker BioSciences Corp		141
1,175	*	Calithera Biosciences, Inc		10
311	*,e	Calyxt, Inc		7
1,265	*	Cambrex Corp		61
1,052	*,e	Cara Therapeutics Inc		13
1,416	*	Cascadian Therapeutics, Inc		5
4,893	*	Catalent, Inc		201
2,735	*	Catalyst Pharmaceuticals, Inc		11
29,682	*	Celgene Corp		3,098
4,172	*	Celldex Therapeutics, Inc		12
1,846	*	Charles River Laboratories International, Inc		202
1,103	*	ChemoCentryx, Inc		7
1,747	*	Chimerix, Inc		8
788	*	Clearside Biomedical, Inc		6
1,527	*	Clovis Oncology, Inc		104
1,501	*	Coherus Biosciences, Inc		13
877	*,e	Collegium Pharmaceutical, Inc		16
642	*	Concert Pharmaceuticals Inc		17
1,005	*,e	Contatus Pharmaceuticals, Inc		5
1,738	*	Corbus Pharmaceuticals Holdings, Inc		12
3,522	*,e	Corcept Therapeutics, Inc		64
820	*	Corium International, Inc		8
349	*,e	Corvus Pharmaceuticals, Inc		4
4,829	*	Curis, Inc		3
1,624	*	Cytokinetics, Inc		13
1,148	*	CytomX Therapeutics, Inc		24
2,241	*	Depomed, Inc		18
1,468	*	Dermira, Inc		41
195	*,e	Dova Pharmaceuticals, Inc		6
4,800	*	Durect Corp		4
1,590	*,e	Dynavax Technologies Corp		30
323	*,e	Eagle Pharmaceuticals, Inc		17
681	*,e	Edge Therapeutics, Inc		6
1,310	*,e	Editas Medicine, Inc		40
37,460		Eli Lilly & Co		3,164
1,340	*	Emergent Biosolutions, Inc		62

36

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
648	*	Enanta Pharmaceuticals, Inc	$	38
8,687	*	Endo International plc		67
1,556	*	Enzo Biochem, Inc		13
1,664	*	Epizyme, Inc		21
554	*	Esperion Thereapeutics, Inc		36
4,274	*	Exact Sciences Corp		225
11,271	*	Exelixis, Inc		343
1,546	*	Fate Therapeutics, Inc		9
2,295	*	FibroGen, Inc		109
979	*	Five Prime Therapeutics, Inc		21
1,094	*,e	Flexion Therapeutics Inc		27
6,976	*	Fluidigm Corp		41
1,392	*,e	Fortress Biotech, Inc		6
507	*,e	Foundation Medicine, Inc		35
301	*	G1 Therapeutics, Inc		6
1,113	*	Genocea Biosciences Inc		1
810	*	Genomic Health, Inc		28
6,445	*,e	Geron Corp		12
49,906		Gilead Sciences, Inc		3,575
1,425	*	Global Blood Therapeutics, Inc		56
4,274	*	Halozyme Therapeutics, Inc		87
1,743	*	Heron Therapeutics, Inc		32
6,384	*	Horizon Pharma plc		93
2,542	*	Idera Pharmaceuticals, Inc		5
1,927	*	Ignyta, Inc		51
5,623	*	Illumina, Inc		1,229
484	*	Immune Design Corp		2
3,349	*	Immunogen, Inc		21
3,945	*,e	Immunomedics, Inc		64
2,888	*	Impax Laboratories, Inc		48
2,126	*	INC Research Holdings, Inc		93
6,468	*	Incyte Corp		613
2,960	*	Innoviva, Inc		42
2,690	*	Inovio Pharmaceuticals, Inc		11
2,469	*	Insmed, Inc		77
998	*,e	Insys Therapeutics, Inc		10
561	*,e	Intellia Therapeutics, Inc		11
696	*,e	Intercept Pharmaceuticals, Inc		41
1,040	*	Intersect ENT, Inc		34
1,415	*	Intra-Cellular Therapies, Inc		21
2,121	*,e	Intrexon Corp		24
1,468	*,e	Invitae Corp		13
4,834	*	Ionis Pharmaceuticals, Inc		243
1,951	*	Iovance Biotherapeutics, Inc		16
6,081	*	IQVIA Holdings, Inc		595
5,284	*	Ironwood Pharmaceuticals, Inc		79
103,531		Johnson & Johnson		14,465
241	*,e	Jounce Therapeutics, Inc		3
2,855	*	Juno Therapeutics, Inc		131
312	*,e	Kala Pharmaceuticals, Inc		6
1,273	*	Karyopharm Therapeutics, Inc		12
3,304	*,e	Keryx Biopharmaceuticals, Inc		15
841	*	Kindred Biosciences Inc		8

37

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,088	*	Kura Oncology, Inc	$	47
669	*,e	La Jolla Pharmaceutical Co		22
1,137	*,e	Lannett Co, Inc		26
1,763	*,e	Lexicon Pharmaceuticals, Inc		17
773	*,e	Ligand Pharmaceuticals, Inc (Class B)		106
777	*	Loxo Oncology, Inc		65
1,582		Luminex Corp		31
1,309	*	MacroGenics, Inc		25
153	*	Madrigal Pharmaceuticals, Inc		14
3,881	*	Mallinckrodt plc		88
2,134	*,e	Matinas BioPharma Holdings, Inc		2
2,689	*,e	Medicines Co		74
1,230	*	MediciNova, Inc		8
289	*	Medpace Holdings, Inc		11
343	*	Melinta Therapeutics, Inc		5
460	e	Merrimack Pharmaceuticals, Inc		5
996	*	Mettler-Toledo International, Inc		617
4,015	*,e	MiMedx Group, Inc		51
684	*	Minerva Neurosciences, Inc		4
520	*	Miragen Therapeutics, Inc		5
2,874	*	Momenta Pharmaceuticals, Inc		40
20,335	*	Mylan NV		860
480	*	MyoKardia, Inc		20
2,502	*	Myriad Genetics, Inc		86
689	*	NanoString Technologies, Inc		5
1,198	*,e	NantKwest, Inc		5
1,110	*	Natera, Inc		10
5,771	*	Nektar Therapeutics		345
2,201	*,e	NeoGenomics, Inc		20
564	*	Neos Therapeutics, Inc		6
3,420	*	Neurocrine Biosciences, Inc		265
866	*,e	NewLink Genetics Corp		7
11,296	*,e	Novavax, Inc		14
591	*	Novelion Therapeutics, Inc		2
1,041	*,e	Nymox Pharmaceutical Corp		3
894	*	Ocular Therapeutix, Inc		4
1,629	*,e	Omeros Corp		32
13,300	*,e	Opko Health, Inc		65
2,776	*,e	Organovo Holdings, Inc		4
1,016	*	Otonomy, Inc		6
3,094	*	Pacific Biosciences of California, Inc		8
1,521	*	Pacira Pharmaceuticals, Inc		69
934	*	Paratek Pharmaceuticals, Inc		17
1,731	*	PDL BioPharma, Inc		5
4,283		PerkinElmer, Inc		313
4,834		Perrigo Co plc		421
226,216		Pfizer, Inc		8,194
720		Phibro Animal Health Corp		24
1,321	*	Pieris Pharmaceuticals, Inc		10
1,961	*	Portola Pharmaceuticals, Inc		95
1,513	*	PRA Health Sciences, Inc		138
2,080	*	Prestige Brands Holdings, Inc		92
2,427	*	Progenics Pharmaceuticals, Inc		14

38

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
282	*	Protagonist Therapeutics, Inc	$	6
1,437	*,e	Prothena Corp plc		54
2,829	*	PTC Therapeutics, Inc		47
1,119	*	Puma Biotechnology, Inc		111
8,962	*	QIAGEN NV		277
442	*	Ra Pharmaceuticals, Inc		4
1,455	*,e	Radius Health, Inc		46
341	*,e	Reata Pharmaceuticals, Inc		10
456	*	Recro Pharma, Inc		4
3,041	*	Regeneron Pharmaceuticals, Inc		1,143
1,062	*	REGENXBIO, Inc		35
1,344	*	Repligen Corp		49
1,469	*	Retrophin, Inc		31
879	*	Revance Therapeutics, Inc		31
4,657	*	Rigel Pharmaceuticals, Inc		18
1,343	*	Sage Therapeutics, Inc		221
2,773	*	Sangamo Biosciences, Inc		45
2,659	*	Sarepta Therapeutics, Inc		148
104,960	*	Schering-Plough Corp		5,906
3,768	*	Seattle Genetics, Inc		202
474	*	Selecta Biosciences, Inc		5
745	*,e	Seres Therapeutics, Inc		8
897	*	Spark Therapeutics, Inc		46
2,652	*	Spectrum Pharmaceuticals, Inc		50
834	*	Stemline Therapeutics, Inc		13
807	*,e	Strongbridge Biopharma plc		6
1,048	*,e	Sucampo Pharmaceuticals, Inc (Class A)		19
1,839	*	Supernus Pharmaceuticals, Inc		73
359	*	Syndax Pharmaceuticals, Inc		3
8,840	*,e	Synergy Pharmaceuticals, Inc		20
496	*,e	Syros Pharmaceuticals, Inc		5
1,333	*,e	Teligent, Inc		5
1,448	*,e	TESARO, Inc		120
1,526	*	Tetraphase Pharmaceuticals, Inc		10
1,870	*,e	TG Therapeutics, Inc		15
5,906	*,e	TherapeuticsMD, Inc		36
1,625	*,e	Theravance Biopharma, Inc		45
15,254		Thermo Fisher Scientific, Inc		2,896
332	*,e	Tocagen, Inc		3
1,790	*	Trevena, Inc		3
1,517	*	Ultragenyx Pharmaceutical, Inc		70
1,741	*	United Therapeutics Corp		258
1,691	*	Vanda Pharmaceuticals, Inc		26
907	*	VBI Vaccines, Inc		4
594	*	Veracyte, Inc		4
1,272	*	Versartis, Inc		3
9,632	*	Vertex Pharmaceuticals, Inc		1,443
484	*,e	Voyager Therapeutics, Inc		8
2,907	*	Waters Corp		562
475	*,e	WaVe Life Sciences Pte Ltd		17
663	*,e	XBiotech, Inc		3
1,460	*	Xencor Inc		32
4,815	*,e	ZIOPHARM Oncology, Inc		20

39

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
18,994		Zoetis, Inc	$	1,368
1,773	*	Zogenix, Inc		71
430	*,e	Zynerba Pharmaceuticals, Inc		5
		TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		83,385
REAL ESTATE - 3.8%
3,250		Acadia Realty Trust		89
943		Agree Realty Corp		49
1,789		Alexander & Baldwin, Inc		50
51		Alexander’s, Inc		20
3,523		Alexandria Real Estate Equities, Inc		460
466	*,e	Altisource Portfolio Solutions S.A.		13
1,944		Altisource Residential Corp		23
1,599		American Assets Trust,Inc		61
5,246		American Campus Communities, Inc		215
8,855		American Homes 4 Rent		193
16,184		American Tower Corp		2,309
5,818		Apartment Investment & Management Co (Class A)		254
7,310		Apple Hospitality REIT, Inc		143
1,658		Armada Hoffler Properties, Inc		26
1,249		Ashford Hospitality Prime, Inc		12
3,090		Ashford Hospitality Trust, Inc		21
454	*	AV Homes, Inc		8
5,236		AvalonBay Communities, Inc		934
769		Bluerock Residential Growth REIT, Inc		8
5,901		Boston Properties, Inc		767
6,772		Brandywine Realty Trust		123
11,939		Brixmor Property Group, Inc		223
3,382		Camden Property Trust		311
2,763		CareTrust REIT, Inc		46
1,667		CatchMark Timber Trust Inc		22
6,537	e	CBL & Associates Properties, Inc		37
11,079	*	CBRE Group, Inc		480
3,595		Cedar Realty Trust, Inc		22
1,449		Chatham Lodging Trust		33
2,308		Chesapeake Lodging Trust		63
1,087		City Office REIT, Inc		14
544		Clipper Realty, Inc		5
20,026		Colony NorthStar, Inc		228
4,776		Columbia Property Trust, Inc		110
498		Community Healthcare Trust, Inc		14
159		Consolidated-Tomoka Land Co		10
4,609		CoreCivic, Inc		104
419		CorEnergy Infrastructure Trust, Inc		16
1,335		Coresite Realty		152
3,896		Corporate Office Properties Trust		114
16,091		Cousins Properties, Inc		149
15,371		Crown Castle International Corp		1,706
6,597		CubeSmart		191
3,383		CyrusOne, Inc		201
3,638		DCT Industrial Trust, Inc		214
12,102		DDR Corp		108
7,801		DiamondRock Hospitality Co		88

40

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
7,917		Digital Realty Trust, Inc	$	902
5,662		Douglas Emmett, Inc		232
13,997		Duke Realty Corp		381
1,340		Easterly Government Properties, Inc		29
1,286		EastGroup Properties, Inc		114
2,840		Education Realty Trust, Inc		99
5,016		Empire State Realty Trust, Inc		103
2,455		Entertainment Properties Trust		161
2,969		Equinix, Inc		1,346
4,669	*	Equity Commonwealth		142
3,181		Equity Lifestyle Properties, Inc		283
13,534		Equity Residential		863
2,501		Essex Property Trust, Inc		604
4,570		Extra Space Storage, Inc		400
967	e	Farmland Partners, Inc		8
2,807		Federal Realty Investment Trust		373
4,527		First Industrial Realty Trust, Inc		142
8,966		Forest City Realty Trust, Inc		216
400	*,e	Forestar Group, Inc		9
2,420		Four Corners Property Trust, Inc		62
4,124		Franklin Street Properties Corp		44
309	*	FRP Holdings, Inc		14
7,699		Gaming and Leisure Properties, Inc		285
4,728		Geo Group, Inc		112
1,064		Getty Realty Corp		29
23,995		GGP, Inc		561
881		Gladstone Commercial Corp		19
547	e	Global Medical REIT, Inc		4
2,475		Global Net Lease, Inc		51
2,836		Government Properties Income Trust		53
5,894		Gramercy Property Trust		157
18,421		HCP, Inc		480
4,494		Healthcare Realty Trust, Inc		144
7,668		Healthcare Trust of America, Inc		230
1,493		Hersha Hospitality Trust		26
1,412		HFF, Inc (Class A)		69
3,908		Highwoods Properties, Inc		199
6,332		Hospitality Properties Trust		189
27,696		Host Marriott Corp		550
1,318	*	Howard Hughes Corp		173
6,080		Hudson Pacific Properties		208
2,619		Independence Realty Trust, Inc		26
4,600		Investors Real Estate Trust		26
9,695		Invitation Homes, Inc		229
10,280		Iron Mountain, Inc		388
2,674	*	iStar Financial, Inc		30
3,369		JBG SMITH Properties		117
322		Jernigan Capital, Inc		6
1,760		Jones Lang LaSalle, Inc		262
5,205		Kennedy-Wilson Holdings, Inc		90
3,767		Kilroy Realty Corp		281
16,000		Kimco Realty Corp		290
3,243		Kite Realty Group Trust		64

41

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,232		Lamar Advertising Co	$	240
4,394		LaSalle Hotel Properties		123
8,402		Lexington Realty Trust		81
5,755		Liberty Property Trust		248
1,802		Life Storage, Inc		161
1,530		LTC Properties, Inc		67
5,384		Macerich Co		354
3,534		Mack-Cali Realty Corp		76
569	*	Marcus & Millichap, Inc		19
231	*	Maui Land & Pineapple Co, Inc		4
996		MedEquities Realty Trust, Inc		11
12,964		Medical Properties Trust, Inc		179
4,427		Mid-America Apartment Communities, Inc		445
2,597		Monmouth Real Estate Investment Corp (Class A)		46
1,356		National Health Investors, Inc		102
5,838		National Retail Properties, Inc		252
1,700		National Storage Affiliates Trust		46
3,164		New Senior Investment Group, Inc		24
662		NexPoint Residential Trust, Inc		18
2,094		NorthStar Realty Europe Corp		28
7,596	e	Omega Healthcare Investors, Inc		209
567		One Liberty Properties, Inc		15
5,413		Outfront Media, Inc		126
7,621		Paramount Group, Inc		121
4,447		Park Hotels & Resorts, Inc		128
2,664	e	Pebblebrook Hotel Trust		99
2,702	e	Pennsylvania REIT		32
5,940		Physicians Realty Trust		107
5,677		Piedmont Office Realty Trust, Inc		111
1,554		Potlatch Corp		78
2,737		Preferred Apartment Communities, Inc		55
20,137		Prologis, Inc		1,299
762		PS Business Parks, Inc		95
5,663		Public Storage, Inc		1,184
1,829		QTS Realty Trust, Inc		99
2,935	*	Quality Care Properties, Inc		41
3,057		Ramco-Gershenson Properties		45
4,462		Rayonier, Inc		141
732		Re/Max Holdings, Inc		36
5,305		Realogy Holdings Corp		141
10,419		Realty Income Corp		594
406	*,e	Redfin Corp		13
5,824		Regency Centers Corp		403
4,204		Retail Opportunities Investment Corp		84
9,278		Retail Properties of America, Inc		125
2,561		Rexford Industrial Realty, Inc		75
6,612		RLJ Lodging Trust		145
283		RMR Group, Inc		17
1,712		Ryman Hospitality Properties		118
6,162		Sabra Healthcare REIT, Inc		116
401		Safety Income and Growth, Inc		7
392		Saul Centers, Inc		24
4,600	*	SBA Communications Corp		751

42

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,918		Select Income REIT	$	48
9,263		Senior Housing Properties Trust		177
990	e	Seritage Growth Properties		40
11,891		Simon Property Group, Inc		2,042
3,877		SL Green Realty Corp		391
18,856		Spirit Realty Capital, Inc		162
1,876	*	St. Joe Co		34
3,470		STAG Industrial, Inc		95
6,501		STORE Capital Corp		169
218		Stratus Properties, Inc		6
3,928		Summit Hotel Properties, Inc		60
2,801		Sun Communities, Inc		260
8,527		Sunstone Hotel Investors, Inc		141
3,676	e	Tanger Factory Outlet Centers, Inc		97
2,340		Taubman Centers, Inc		153
834	*	Tejon Ranch Co		17
1,821		Terreno Realty Corp		64
1,934		Tier REIT, Inc		39
761	*	Trinity Place Holdings, Inc		5
10,955		UDR, Inc		422
994		UMH Properties, Inc		15
6,462	e	Uniti Group, Inc		115
294		Universal Health Realty Income Trust		22
3,855		Urban Edge Properties		98
1,188		Urstadt Biddle Properties, Inc (Class A)		26
13,411		Ventas, Inc		805
38,221		VEREIT, Inc		298
6,739		Vornado Realty Trust		527
7,181		Washington Prime Group, Inc		51
3,060		Washington REIT		95
4,685		Weingarten Realty Investors		154
14,133		Welltower, Inc		901
28,296		Weyerhaeuser Co		998
1,293	e	Whitestone REIT		19
4,118		WP Carey, Inc		284
4,278		Xenia Hotels & Resorts, Inc		92
		TOTAL REAL ESTATE		40,394
RETAILING - 5.2%
1,264	*	1-800-FLOWERS.COM, Inc (Class A)		14
2,429		Aaron’s, Inc		97
2,820		Abercrombie & Fitch Co (Class A)		49
2,788		Advance Auto Parts, Inc		278
15,249	*	Amazon.com, Inc		17,834
4,950		American Eagle Outfitters, Inc		93
367	*	America’s Car-Mart, Inc		16
727	*	Asbury Automotive Group, Inc		47
164	*,e	At Home Group, Inc		5
2,501	*,e	Autonation, Inc		128
1,081	*	AutoZone, Inc		769
1,364	*	Barnes & Noble Education, Inc		11
2,159		Barnes & Noble, Inc		14
4,627		Bed Bath & Beyond, Inc		102

43

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
10,076		Best Buy Co, Inc	$	690
824	e	Big 5 Sporting Goods Corp		6
1,715		Big Lots, Inc		96
517	*	Boot Barn Holdings, Inc		9
1,023	e	Buckle, Inc		24
512	*	Build-A-Bear Workshop, Inc		5
2,706	*	Burlington Stores, Inc		333
1,517		Caleres, Inc		51
437		Camping World Holdings, Inc		20
6,997	*	Carmax, Inc		449
575	*	Carvana Co		11
966		Cato Corp (Class A)		15
4,716		Chico’s FAS, Inc		42
670		Children’s Place Retail Stores, Inc		97
619		Citi Trends, Inc		16
708	*,e	Conn’s, Inc		25
764	*,e	Container Store Group, Inc		4
1,444		Core-Mark Holding Co, Inc		46
3,329		Dick’s Sporting Goods, Inc		96
590	e	Dillard’s, Inc (Class A)		35
10,569		Dollar General Corp		983
8,803	*	Dollar Tree, Inc		945
2,574		DSW, Inc (Class A)		55
404	*,e	Duluth Holdings, Inc		7
4,623		Expedia, Inc		554
3,087	*	Express Parent LLC		31
1,519		Finish Line, Inc (Class A)		22
2,096	*	Five Below, Inc		139
405	*	Floor & Decor Holdings, Inc		20
4,756		Foot Locker, Inc		223
127	*	Francesca’s Holdings Corp		1
724	*	FTD Cos, Inc		5
322	*	Gaia, Inc		4
3,029	e	GameStop Corp (Class A)		54
9,382		Gap, Inc		320
254	*	Genesco, Inc		8
5,460		Genuine Parts Co		519
2,663	*,e	GNC Holdings, Inc		10
787		Group 1 Automotive, Inc		56
13,160	*	Groupon, Inc		67
2,487	e	Guess?, Inc		42
715		Haverty Furniture Cos, Inc		16
948	*	Hibbett Sports, Inc		19
45,350		Home Depot, Inc		8,595
1,263		HSN, Inc		51
437	*,e	J. Jill, Inc		3
12,004	*,e	JC Penney Co, Inc		38
705	*	Kirkland’s, Inc		8
6,723		Kohl’s Corp		365
9,393		L Brands, Inc		566
487	*,e	Lands’ End, Inc		10
2,114	*	Liberty Expedia Holdings, Inc		94
16,138	*	Liberty Interactive Corp		394

44

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,006	*	Liberty TripAdvisor Holdings, Inc	$	28
3,088	*	Liberty Ventures		168
908		Lithia Motors, Inc (Class A)		103
11,611	*	LKQ Corp		472
32,314		Lowe’s Companies, Inc		3,003
1,099	*,e	Lumber Liquidators, Inc		35
11,147		Macy’s, Inc		281
1,129	*	MarineMax, Inc		21
3,766	*	Michaels Cos, Inc		91
1,185		Monro Muffler, Inc		67
1,357	*	Murphy USA, Inc		109
632	*	National Vision Holdings, Inc		26
15,709	*	NetFlix, Inc		3,016
4,562		Nordstrom, Inc		216
1,156		Nutri/System, Inc		61
19,657		Office Depot, Inc		70
1,846	*	Ollie’s Bargain Outlet Holdings, Inc		98
3,328	*	O’Reilly Automotive, Inc		801
567	*,e	Overstock.com, Inc		36
1,066	*,e	Party City Holdco, Inc		15
1,385		Penske Auto Group, Inc		66
765		PetMed Express, Inc		35
3,298		Pier 1 Imports, Inc		14
1,880	*	Priceline.com, Inc		3,267
1,673	e	Rent-A-Center, Inc		19
769	*,e	RH		66
14,739		Ross Stores, Inc		1,183
5,321	*	Sally Beauty Holdings, Inc		100
576		Shoe Carnival, Inc		15
1,315	*	Shutterfly, Inc		65
2,675	e	Signet Jewelers Ltd		151
1,596	*	Sleep Number Corp		60
1,157		Sonic Automotive, Inc (Class A)		21
1,434	*,e	Sportsman’s Warehouse Holdings, Inc		9
1,859		Tailored Brands, Inc		41
21,358		Target Corp		1,394
4,060		Tiffany & Co		422
1,314		Tile Shop Holdings, Inc		13
432		Tilly’s, Inc		6
24,613		TJX Companies, Inc		1,882
5,032		Tractor Supply Co		376
4,356	*	TripAdvisor, Inc		150
2,311	*	Ulta Beauty, Inc		517
3,362	*	Urban Outfitters, Inc		118
990	*	Vitamin Shoppe, Inc		4
1,500	*,e	Wayfair, Inc		120
3,375	e	Williams-Sonoma, Inc		174
94		Winmark Corp		12
686	*	Zumiez, Inc		14
		TOTAL RETAILING		54,782
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.8%
716	*,e	Acacia Communications, Inc		26

45

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,546	*	Advanced Energy Industries, Inc	$	104
31,073	*,e	Advanced Micro Devices, Inc		319
844	*	Alpha & Omega Semiconductor Ltd		14
1,266	*,e	Ambarella, Inc		74
3,751	*	Amkor Technology, Inc		38
13,963		Analog Devices, Inc		1,243
41,302		Applied Materials, Inc		2,111
1,183	*	Axcelis Technologies, Inc		34
1,452	*	AXT, Inc		13
15,498		Broadcom Ltd		3,981
2,689		Brooks Automation, Inc		64
744		Cabot Microelectronics Corp		70
2,572	*	Cavium, Inc		216
839	*	Ceva, Inc		39
2,507	*	Cirrus Logic, Inc		130
1,050		Cohu, Inc		23
3,781	*	Cree, Inc		140
248	*,e	CyberOptics Corp		4
12,862		Cypress Semiconductor Corp		196
1,498	*	Diodes, Inc		43
845	*	DSP Group, Inc		11
5,537		Entegris, Inc		169
3,179	*	First Solar, Inc		215
2,989	*	Formfactor, Inc		47
500	*	GSI Technology, Inc		4
445	*	Ichor Holdings Ltd		11
705	*,e	Impinj, Inc		16
1,603	*,e	Inphi Corp		59
5,139	*	Integrated Device Technology, Inc		153
180,309		Intel Corp		8,323
965	*	IXYS Corp		23
5,993		Kla-Tencor Corp		630
2,498	*,e	Kopin Corp		8
6,216		Lam Research Corp		1,144
5,097	*	Lattice Semiconductor Corp		29
1,568	*,e	MA-COM Technology Solutions		51
14,795		Marvell Technology Group Ltd		318
10,627		Maxim Integrated Products, Inc		556
2,280	*	MaxLinear, Inc		60
8,621		Microchip Technology, Inc		758
41,800	*	Micron Technology, Inc		1,719
4,224	*	Microsemi Corp		218
2,066		MKS Instruments, Inc		195
1,572		Monolithic Power Systems, Inc		177
1,014	*	Nanometrics, Inc		25
1,216	*,e	NeoPhotonics Corp Ltd		8
192		NVE Corp		16
21,788		NVIDIA Corp		4,216
12,905	*	NXP Semiconductors NV		1,511
16,325	*	ON Semiconductor Corp		342
1,181	*,e	PDF Solutions, Inc		19
2,703	*	Photronics, Inc		23
1,047	*	Pixelworks, Inc		7

46

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,113		Power Integrations, Inc	$	82
4,730	*	Qorvo, Inc		315
56,719		QUALCOMM, INC		3,631
4,243	*	Rambus, Inc		60
1,221	*	Rudolph Technologies, Inc		29
2,520	*	Semtech Corp		86
1,460	*	Sigma Designs, Inc		10
1,625	*	Silicon Laboratories, Inc		143
7,073		Skyworks Solutions, Inc		672
781	*,e	SMART Global Holdings, Inc		26
2,299	*,e	SunPower Corp		19
7,814		Teradyne, Inc		327
38,278		Texas Instruments, Inc		3,998
1,266	*	Ultra Clean Holdings		29
1,833	*	Veeco Instruments, Inc		27
4,186		Versum Materials, Inc		158
2,114	*	Xcerra Corp		21
9,521		Xilinx, Inc		642
1,849		Xperi Corp		45
		TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		40,263
SOFTWARE & SERVICES - 13.4%
1,702	*	2U, Inc		110
3,462	*	8x8, Inc		49
1,883	*	A10 Networks, Inc		15
23,771		Accenture plc		3,639
4,522	*	ACI Worldwide, Inc		102
28,331		Activision Blizzard, Inc		1,794
1,196	*	Actua Corp		19
3,018	*	Acxiom Corp		83
18,906	*	Adobe Systems, Inc		3,313
6,269	*	Akamai Technologies, Inc		408
792	*	Alarm.com Holdings, Inc		30
1,833		Alliance Data Systems Corp		465
11,388	*	Alphabet, Inc (Class A)		11,996
11,571	*	Alphabet, Inc (Class C)		12,108
1,603	*	Alteryx, Inc		40
781	*	Amber Road, Inc		6
5,455		Amdocs Ltd		357
1,091		American Software, Inc (Class A)		13
3,225	*	Ansys, Inc		476
244	*	Appfolio, Inc		10
679	*	Apptio, Inc		16
2,704	*	Aspen Technology, Inc		179
3,628	*	Atlassian Corp plc		165
7,989	*	Autodesk, Inc		837
17,170		Automatic Data Processing, Inc		2,012
898	*	Barracuda Networks, Inc		25
3,330	*	Bazaarvoice, Inc		18
613	*,e	Benefitfocus, Inc		17
4,234	*	Black Knight, Inc		187
1,852		Blackbaud, Inc		175
2,122	*	Blackhawk Network Holdings, Inc		76

47

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
433	*	Blackline, Inc	$	14
1,604	*	Blucora, Inc		35
5,706		Booz Allen Hamilton Holding Co		218
1,563	*	Bottomline Technologies, Inc		54
3,062	*	Box, Inc		65
1,247	*	Brightcove, Inc		9
4,397		Broadridge Financial Solutions, Inc		398
1,199	*,e	BroadSoft, Inc		66
11,810		CA, Inc		393
946	*	CACI International, Inc (Class A)		125
10,505	*	Cadence Design Systems, Inc		439
2,494	*	Callidus Software, Inc		71
960	*	Carbonite, Inc		24
1,770	*	Cardtronics plc		33
534	*	Care.com, Inc		10
2,801	*,e	Cars.com, Inc		81
480		Cass Information Systems, Inc		28
5,064		CDK Global, Inc		361
921	*	ChannelAdvisor Corp		8
974	*	Cimpress NV		117
5,736	*	Citrix Systems, Inc		505
3,664	*	Cloudera, Inc		61
22,281		Cognizant Technology Solutions Corp (Class A)		1,582
1,101	*	CommerceHub, Inc		23
550	*,e	CommerceHub, Inc (Series A)		12
1,509	*	Commvault Systems, Inc		79
7,418	*	Conduent, Inc		120
3,726		Convergys Corp		88
2,077	*	Cornerstone OnDemand, Inc		73
1,257	*	CoStar Group, Inc		373
1,159	*	Coupa Software, Inc		36
1,299		CSG Systems International, Inc		57
6,290		CSRA, Inc		188
7,781	*	Dell Technologies, Inc-VMware Inc		632
1,843	*	DHI Group, Inc		3
335	*	Digimarc Corp		12
2,395		DST Systems, Inc		149
10,734		DXC Technology Co		1,019
38,169	*	eBay, Inc		1,440
927	e	Ebix, Inc		73
11,459	*	Electronic Arts, Inc		1,204
1,316	*	Ellie Mae, Inc		118
2,483	*	Endurance International Group Holdings, Inc		21
1,657	*	Envestnet, Inc		83
1,908	*	EPAM Systems, Inc		205
4,286	*	Etsy, Inc		88
1,952	*	Euronet Worldwide, Inc		164
662	*	Everbridge, Inc		20
2,472	*	Everi Holdings, Inc		19
2,375		EVERTEC, Inc		32
1,241	*	ExlService Holdings, Inc		75
89,578	*	Facebook, Inc		15,807
1,096		Fair Isaac Corp		168

48

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
12,529		Fidelity National Information Services, Inc	$	1,179
6,880	*	FireEye, Inc		98
3,306	*	First American Corp		153
17,769	*	First Data Corp		297
8,066	*	Fiserv, Inc		1,058
2,029	*	Five9, Inc		50
3,488	*	FleetCor Technologies, Inc		671
5,395	*	Fortinet, Inc		236
3,300	*	Gartner, Inc		406
5,261		Genpact Ltd		167
5,776		Global Payments, Inc		579
7,997	*	Glu Mobile, Inc		29
4,503	*	GoDaddy, Inc		226
2,248	*,e	Gogo, Inc		25
3,333	*,e	GrubHub, Inc		239
1,166	*	GTT Communications, Inc		55
2,905	*	Guidewire Software, Inc		216
1,077		Hackett Group, Inc		17
1,639	*	Hortonworks, Inc		33
1,304	*	HubSpot, Inc		115
2,708	*	IAC/InterActiveCorp		331
1,304	*	Imperva, Inc		52
1,377	*	Information Services Group, Inc		6
825	*	Instructure, Inc		27
790	*	Internap Corp		12
32,578		International Business Machines Corp		4,998
9,322		Intuit, Inc		1,471
1,794		j2 Global, Inc		135
2,895		Jack Henry & Associates, Inc		339
487	*	Leaf Group Ltd		5
5,319		Leidos Holdings, Inc		343
3,363	*	Limelight Networks, Inc		15
1,143	*	Liquidity Services, Inc		6
2,140	*	Liveperson, Inc		25
2,029		LogMeIn, Inc		232
2,696	*	Manhattan Associates, Inc		134
1,025		Mantech International Corp (Class A)		51
36,100		MasterCard, Inc (Class A)		5,464
1,373	*,e	Match Group, Inc		43
2,490		MAXIMUS, Inc		178
2,453	*	Meet Group, Inc		7
287,921		Microsoft Corp		24,629
367	*	MicroStrategy, Inc (Class A)		48
1,433	*	MINDBODY, Inc		44
1,253	*	Mitek Systems, Inc		11
1,693	*	MobileIron, Inc		7
844	*	Model N, Inc		13
1,065	*	MoneyGram International, Inc		14
1,609		Monotype Imaging Holdings, Inc		39
570	*	MuleSoft, Inc		13
1,138	*	New Relic, Inc		66
2,596		NIC, Inc		43
11,208	*	Nuance Communications, Inc		183

49

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,052	*	Nutanix, Inc	$	143
446	*	Okta, Inc		11
111,944		Oracle Corp		5,293
7,425	*	Pandora Media, Inc		36
444	*,e	Park City Group, Inc		4
12,266		Paychex, Inc		835
1,911	*	Paycom Software, Inc		153
1,003	*	Paylocity Holding Corp		47
43,399	*	PayPal Holdings, Inc		3,195
1,438		Pegasystems, Inc		68
1,320	*	Perficient, Inc		25
707	*	Presidio, Inc		14
1,791		Progress Software Corp		76
1,685	*	Proofpoint, Inc		150
1,099	*	PROS Holdings, Inc		29
4,489	*	PTC, Inc		273
1,206	*	Q2 Holdings, Inc		44
400		QAD, Inc (Class A)		16
1,213	*	Qualys, Inc		72
1,192	*	QuinStreet, Inc		10
2,851	*	Quotient Technology, Inc		33
809	*	Rapid7, Inc		15
1,085	*	RealNetworks, Inc		4
2,285	*	RealPage, Inc		101
6,793	*	Red Hat, Inc		816
393		Reis, Inc		8
2,430	*	RingCentral, Inc		118
750	*	Rosetta Stone, Inc		9
1,562	*	Rubicon Project, Inc		3
8,252		Sabre Corp		169
25,923	*	salesforce.com, Inc		2,650
1,738		Science Applications International Corp		133
257	*,e	SecureWorks Corp		2
6,396	*	ServiceNow, Inc		834
2,827	*	ServiceSource International LLC		9
719	*	Shutterstock, Inc		31
1,525	*	Silver Spring Networks, Inc		25
5,195	*	Splunk, Inc		430
690	*	SPS Commerce, Inc		34
8,664	*	Square, Inc		300
6,358		SS&C Technologies Holdings, Inc		257
618	*	Stamps.com, Inc		116
352	*	StarTek, Inc		3
1,325	e	Switch, Inc		24
1,511	*	Sykes Enterprises, Inc		48
23,044		Symantec Corp		647
1,690	*	Synchronoss Technologies, Inc		15
5,666	*	Synopsys, Inc		483
1,329	*	Syntel, Inc		31
2,342	*	Tableau Software, Inc		162
4,272	*	Take-Two Interactive Software, Inc		469
708	*	TechTarget, Inc		10
834	*	TeleNav, Inc		5

50

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
541		TeleTech Holdings, Inc	$	22
5,039	*	Teradata Corp		194
4,511		TiVo Corp		70
6,858		Total System Services, Inc		542
674	*,e	Trade Desk, Inc		31
4,786		Travelport Worldwide Ltd		63
2,406	*,e	TrueCar, Inc		27
349	*,e	Tucows, Inc		24
2,425	*,e	Twilio, Inc		57
25,194	*	Twitter, Inc		605
1,348	*	Tyler Technologies, Inc		239
1,115	*	Ultimate Software Group, Inc		243
2,160	*,e	Unisys Corp		18
265	*	Upland Software, Inc		6
6,075	*	Vantiv, Inc		447
743	*	Varonis Systems, Inc		36
1,227	*	Vasco Data Security International		17
2,429	*	Verint Systems, Inc		102
3,303	*,e	VeriSign, Inc		378
2,063	*,e	VirnetX Holding Corp		8
1,072	*	Virtusa Corp		47
70,097		Visa, Inc (Class A)		7,992
2,632	*,e	VMware, Inc (Class A)		330
1,495	*	Website Pros, Inc		33
17,679		Western Union Co		336
1,532	*	WEX, Inc		216
4,948	*	Workday, Inc		503
912	*	Workiva, Inc		19
886	*	XO Group, Inc		16
3,020	*	Yelp, Inc		127
452	*	Yext, Inc		5
3,760	*	Zendesk, Inc		127
2,077	*	Zillow Group, Inc		85
4,117	*,e	Zillow Group, Inc (Class C)		168
2,044	*	Zix Corp		9
30,167	*	Zynga, Inc		121
		TOTAL SOFTWARE & SERVICES		142,402
TECHNOLOGY HARDWARE & EQUIPMENT - 5.5%
4,245	*,e	3D Systems Corp		37
1,869		Adtran, Inc		36
932	*	Aerohive Networks, Inc		5
596	*	Agilysys, Inc		7
11,314		Amphenol Corp (Class A)		993
1,131	*	Anixter International, Inc		86
197,295	d	Apple, Inc		33,388
712	*	Applied Optoelectronics, Inc		27
2,001	*	Arista Networks, Inc		471
6,515	*	ARRIS International plc		167
3,277	*	Arrow Electronics, Inc		264
1,363	*	Avid Technology, Inc		7
4,866		Avnet, Inc		193
1,630		AVX Corp		28

51

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,096		Badger Meter, Inc	$	52
429		Bel Fuse, Inc (Class B)		11
1,632		Belden CDT, Inc		126
1,932	*	Benchmark Electronics, Inc		56
1,369	*	CalAmp Corp		29
1,907	*	Calix, Inc		11
5,775		CDW Corp		401
5,012	*	Ciena Corp		105
190,558		Cisco Systems, Inc		7,298
522	*,e	Clearfield, Inc		6
6,490		Cognex Corp		397
954	*	Coherent, Inc		269
7,423	*	CommScope Holding Co, Inc		281
784		Comtech Telecommunications Corp		17
938	*	Control4 Corp		28
33,793		Corning, Inc		1,081
1,568	*	Cray, Inc		38
1,256		CTS Corp		32
48		Daktronics, Inc		0	^
2,906	e	Diebold, Inc		48
1,019	*	Digi International, Inc		10
2,138		Dolby Laboratories, Inc (Class A)		133
789	*,e	Eastman Kodak Co		2
1,847	*	EchoStar Corp (Class A)		111
1,199	*	Electro Scientific Industries, Inc		26
1,788	*	Electronics for Imaging, Inc		53
1,103	*	EMCORE Corp		7
518	*	ePlus, Inc		39
4,537	*	Extreme Networks, Inc		57
2,420	*	F5 Networks, Inc		318
1,440	*	Fabrinet		41
655	*	FARO Technologies, Inc		31
4,415	*	Finisar Corp		90
6,696	*	Fitbit, Inc		38
4,988		Flir Systems, Inc		233
3,142	*	Harmonic, Inc		13
4,638		Harris Corp		657
62,972		Hewlett Packard Enterprise Co		904
64,845		HP, Inc		1,362
2,439	*	II-VI, Inc		115
1,305	*,e	Immersion Corp		9
5,792	*	Infinera Corp		37
1,383	*	Insight Enterprises, Inc		53
1,347		InterDigital, Inc		103
735	*	Intevac, Inc		5
1,406	*	IPG Photonics Corp		301
944	*	Iteris, Inc		7
1,329	*	Itron, Inc		91
6,973		Jabil Circuit, Inc		183
13,908		Juniper Networks, Inc		396
1,750	*	Kemet Corp		26
6,871	*	Keysight Technologies, Inc		286
1,038	*	Kimball Electronics, Inc		19

52

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,427	*	Knowles Corp	$	50
758	*	KVH Industries, Inc		8
875		Littelfuse, Inc		173
2,352	*	Lumentum Holdings, Inc		115
1,366	*,e	Maxwell Technologies, Inc		8
126		Mesa Laboratories, Inc		16
1,398		Methode Electronics, Inc		56
2,561	*,e	Microvision, Inc		4
6,223		Motorola, Inc		562
632	e	MTS Systems Corp		34
428	*	Napco Security Technologies, Inc		4
4,043		National Instruments Corp		168
4,702	*	NCR Corp		160
10,297		NetApp, Inc		570
1,274	*	Netgear, Inc		75
3,375	*	Netscout Systems, Inc		103
1,269	*	Novanta, Inc		63
6,405	*	Oclaro, Inc		43
673	*	OSI Systems, Inc		43
3,367	*	Palo Alto Networks, Inc		488
766		Park Electrochemical Corp		15
430		PC Connection, Inc		11
372	*	PC Mall, Inc		4
1,300		Plantronics, Inc		66
1,309	*	Plexus Corp		80
3,625	*	Pure Storage, Inc		58
807	*,e	Quantenna Communications, Inc		10
1,091	*	Quantum Corp		6
1,483	*	Radisys Corp		2
2,205	*	Ribbon Communications, Inc		17
701	*	Rogers Corp		114
2,856	*	Sanmina Corp		94
958	*	Scansource, Inc		34
1,939	*	Stratasys Ltd		39
1,554	*	Super Micro Computer, Inc		33
1,338	*	Synaptics, Inc		53
1,010		SYNNEX Corp		137
461		Systemax, Inc		15
1,361	*	Tech Data Corp		133
9,398	*	Trimble Navigation Ltd		382
3,576	*	TTM Technologies, Inc		56
905	*,e	Ubiquiti Networks, Inc		64
1,630		Universal Display Corp		281
1,586	*	USA Technologies, Inc		16
4,353	*	VeriFone Systems, Inc		77
2,057	*,e	Viasat, Inc		154
8,882	*	Viavi Solutions, Inc		78
5,245		Vishay Intertechnology, Inc		109
398	*	Vishay Precision Group, Inc		10
11,052		Western Digital Corp		879
8,463		Xerox Corp		247
2,046	*	Zebra Technologies Corp (Class A)		212
		TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		57,980

53

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
TELECOMMUNICATION SERVICES - 1.9%
235,158		AT&T, Inc	$	9,143
373		ATN International, Inc		21
1,565	*	Boingo Wireless, Inc		35
37,194		CenturyLink, Inc		620
1,724	*	Cincinnati Bell, Inc		36
1,599		Cogent Communications Group, Inc		72
2,586		Consolidated Communications Holdings, Inc		32
3,091	e	Frontier Communications Corp		21
1,059	*	General Communication, Inc (Class A)		41
17,030	*,e	Globalstar, Inc		22
235	*	Hawaiian Telcom Holdco, Inc		7
609		IDT Corp (Class B)		7
1,272	*	Intelsat S.A.		4
2,990	*,e	Iridium Communications, Inc		35
661	*	Ooma, Inc		8
2,552	*	Orbcomm, Inc		26
410	*	pdvWireless, Inc		13
1,811		Shenandoah Telecom Co		61
859		Spok Holdings, Inc		14
24,656	*	Sprint Corp		145
529	*	Straight Path Communications, Inc		96
3,834		Telephone & Data Systems, Inc		107
11,436	*	T-Mobile US, Inc		726
176	*	US Cellular Corp		7
156,145		Verizon Communications, Inc		8,265
7,849	*	Vonage Holdings Corp		80
7,823	e	Windstream Holdings, Inc		15
7,262	*	Zayo Group Holdings, Inc		267
		TOTAL TELECOMMUNICATION SERVICES		19,926
TRANSPORTATION - 2.2%
2,138	*	Air Transport Services Group, Inc		49
4,469		Alaska Air Group, Inc		329
502		Allegiant Travel Co		78
196		Amerco, Inc		74
16,871		American Airlines Group, Inc		878
1,131		Arkansas Best Corp		40
913	*	Atlas Air Worldwide Holdings, Inc		54
2,527	*	Avis Budget Group, Inc		111
5,490		CH Robinson Worldwide, Inc		489
1,092		Copa Holdings S.A. (Class A)		146
1,032		Costamare, Inc		6
452	*	Covenant Transportation Group, Inc		13
33,320		CSX Corp		1,833
763	*	Daseke, Inc		11
25,262		Delta Air Lines, Inc		1,415
1,536	*	Eagle Bulk Shipping, Inc		7
1,070	*	Echo Global Logistics, Inc		30
6,826		Expeditors International of Washington, Inc		442
9,487		FedEx Corp		2,367
902		Forward Air Corp		52

54

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,185	*	Genesee & Wyoming, Inc (Class A)	$	172
1,746		Hawaiian Holdings, Inc		70
1,188		Heartland Express, Inc		28
2,016	*	Hertz Global Holdings, Inc		45
1,279	*	Hub Group, Inc (Class A)		61
3,419		J.B. Hunt Transport Services, Inc		393
13,024	*	JetBlue Airways Corp		291
4,000		Kansas City Southern Industries, Inc		421
2,088	*	Kirby Corp		140
4,783		Knight-Swift Transportation Holdings, Inc		209
1,627		Landstar System, Inc		169
3,019		Macquarie Infrastructure Co LLC		194
1,495		Marten Transport Ltd		30
1,675		Matson, Inc		50
3,393	*	Navios Maritime Holdings, Inc		4
11,100		Norfolk Southern Corp		1,608
2,413		Old Dominion Freight Line		317
334		Park-Ohio Holdings Corp		15
1,449	*	Radiant Logistics, Inc		7
1,220	*	Roadrunner Transportation Services Holdings, Inc		9
2,083		Ryder System, Inc		175
1,798	*	Safe Bulkers, Inc		6
945	*	Saia, Inc		67
1,179		Schneider National, Inc		34
2,180		Scorpio Bulkers, Inc		16
1,961		Skywest, Inc		104
21,472		Southwest Airlines Co		1,405
2,736	*	Spirit Airlines, Inc		123
30,301		Union Pacific Corp		4,064
10,520	*	United Continental Holdings, Inc		709
26,432		United Parcel Service, Inc (Class B)		3,149
200		Universal Truckload Services, Inc		5
1,875		Werner Enterprises, Inc		72
4,303	*	XPO Logistics, Inc		394
147	*	YRC Worldwide, Inc		2
		TOTAL TRANSPORTATION		22,982
UTILITIES - 3.0%
24,589		AES Corp		266
1,901		Allete, Inc		141
8,576		Alliant Energy Corp		365
9,236		Ameren Corp		545
18,874		American Electric Power Co, Inc		1,389
1,409		American States Water Co		82
6,823		American Water Works Co, Inc		624
6,497		Aqua America, Inc		255
443	*,e	AquaVenture Holdings Ltd		7
366		Artesian Resources Corp		14
5,498	*	Atlantic Power Corp		13
3,854		Atmos Energy Corp		331
2,130		Avangrid, Inc		108
2,203		Avista Corp		113
2,094		Black Hills Corp		126

55

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,402	*,e	Cadiz, Inc	$	49
1,860		California Water Service Group		84
14,048	*	Calpine Corp		213
16,878		Centerpoint Energy, Inc		479
640		Chesapeake Utilities Corp		50
10,631		CMS Energy Corp		503
438		Connecticut Water Service, Inc		25
11,636		Consolidated Edison, Inc		989
626		Consolidated Water Co, Inc		8
24,377		Dominion Resources, Inc		1,976
6,860		DTE Energy Co		751
26,750		Duke Energy Corp		2,250
4,351	*	Dynegy, Inc		52
12,075		Edison International		764
1,320		El Paso Electric Co		73
7,030		Entergy Corp		572
12,159		Eversource Energy		768
1,139	*	Evoqua Water Technologies Corp		27
36,188		Exelon Corp		1,426
16,817		FirstEnergy Corp		515
535		Genie Energy Ltd		2
349		Global Water Resources, Inc		3
8,417		Great Plains Energy, Inc		271
3,788		Hawaiian Electric Industries, Inc		137
2,158		Idacorp, Inc		197
7,499		MDU Resources Group, Inc		202
1,395		MGE Energy, Inc		88
644		Middlesex Water Co		26
3,118		National Fuel Gas Co		171
3,351		New Jersey Resources Corp		135
18,133		NextEra Energy, Inc		2,832
12,679		NiSource, Inc		325
1,124		Northwest Natural Gas Co		67
1,891		NorthWestern Corp		113
11,154		NRG Energy, Inc		318
1,290		NRG Yield, Inc (Class A)		24
3,640		NRG Yield, Inc (Class C)		69
7,848		OGE Energy Corp		258
2,027		ONE Gas, Inc		149
1,582		Ormat Technologies, Inc		101
1,523		Otter Tail Corp		68
2,658	e	Pattern Energy Group, Inc		57
19,793		PG&E Corp		887
4,281		Pinnacle West Capital Corp		365
3,215		PNM Resources, Inc		130
3,158		Portland General Electric Co		144
26,290		PPL Corp		814
19,174		Public Service Enterprise Group, Inc		987
626	*	Pure Cycle Corp		5
263		RGC Resources, Inc		7
5,186		SCANA Corp		206
9,538		Sempra Energy		1,020
678		SJW Corp		43

56

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,054		South Jersey Industries, Inc	$	95
38,131		Southern Co		1,834
1,840		Southwest Gas Corp		148
431	e	Spark Energy, Inc		5
1,831		Spire, Inc		138
1,698	e	TerraForm Power, Inc		20
6,774		UGI Corp		318
534		Unitil Corp		24
3,221		Vectren Corp		209
9,455	*	Vistra Energy Corp		173
876	*,e	Vivint Solar, Inc		4
12,096		WEC Energy Group, Inc		804
5,253		Westar Energy, Inc		277
1,820		WGL Holdings, Inc		156
19,245		Xcel Energy, Inc		926
490		York Water Co		17
		TOTAL UTILITIES		31,322
		TOTAL COMMON STOCKS (Cost $429,327)		1,054,212
RIGHTS / WARRANTS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
92	m	Emergent Capital Inc		0
		TOTAL DIVERSIFIED FINANCIALS		0
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
643	*,†,m	Forest Laboratories, Inc CVR		1
244	*,†,m	Omthera Pharmaceuticals, Inc CVR		0	^
390	m	Tobira Therapeutics, Inc		0	^
		TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1
SOFTWARE & SERVICES - 0.0%
1,221	†,m	Gerber Scientific, Inc		0
		TOTAL SOFTWARE & SERVICES		0
		TOTAL RIGHTS / WARRANTS (Cost $0)		1

PRINCIPAL		ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 1.8%
TREASURY DEBT - 0.5%
$4,830,000		United States Cash Management Bill		0.900	%		01/02/18	4,830
		TOTAL TREASURY DEBT						4,830
SHARES		COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES – 1.3%
14,296,181	c	State Street Navigator Securities Lending Government Money Market Portfolio						14,296
		TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						14,296
		TOTAL SHORT-TERM INVESTMENTS (Cost $19,126)						19,126

57

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES	COMPANY	VALUE (000)
	TOTAL INVESTMENTS - 101.2% (Cost $448,453)	$	1,073,339
	OTHER ASSETS & LIABILITIES, NET - (1.2)%		(12,900	)
	NET ASSETS - 100.0%	$	1,060,439

Abbreviation(s):

REIT Real Estate Investment Trust

* Non-income producing

^ Amount represents less than $1,000.

† Security is categorized as Level 3 in the fair value hierarchy.

c Investments made with cash collateral received from securities on loan.

d All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.

e All or a portion of these securities are out on loan. The value of securities on loan is $13,760,000.

m Indicates a security that has been deemed illiquid.

Cost amounts are in thousands.

Futures contracts outstanding as of December 31, 2017 were as follows (notional amounts and values are in thousands) (see Note 3):

Description	Number of long (short) contracts		Expiration date	Notional amount		Value		Unrealized appreciation (depreciation)
S&P 500 E Mini Index		25	3/16/18	$	3,292	$	3,345	$	53

58

Report of Independent Registered Public Accounting Firm

To the Management Committee and Contractowners of the Stock Index Account of TIAA Separate Account VA-1

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the summary portfolio of investments, of Stock Index Account of TIAA Separate Account VA-1, (the “Account”) as of December 31, 2017, the related statement of operations for the year ended December 31, 2017, the statement of changes in net assets for each of the two years in the period ended December 31, 2017, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2017 (included in Item 1 of this Form N-CSR) and the schedule of investments (included in Item 6 of this Form N-CSR) as of December 31, 2017 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Account as of December 31, 2017, 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 ended December 31, 2017 and the financial highlights for each of the five years in the period ended December 31, 2017 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Account’s management. Our responsibility is to express an opinion on the Account’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2017 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Baltimore, Maryland

February 16, 2018

We have served as the auditor of one or more investment companies in TIAA-CREF Funds’ investment company group since 2005.

59

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 16, 2018	By: /s/ Carol W. Deckbar
		Carol W. Deckbar
		Principal Executive Officer and Executive
		Vice President

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

Dated: February 16, 2018	By: /s/ Carol W. Deckbar
		Carol W. Deckbar
		Principal Executive Officer and Executive
		Vice President
		(principal executive officer)
Dated: February 16, 2018	By: /s/ E. Scott Wickerham
		E. Scott Wickerham
		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