N-CSR

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)

Terry H. Lin, Esq.

TIAA SEPARATE ACCOUNT VA-1

730 Third Avenue

New York, New York 10017-3206

(Name and address of agent for service)

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

Date of fiscal year end: December 31

Date of reporting period: December 31, 2018

Item 1. Reports to Stockholders.

Stock Index Account

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the TIAA Separate Account VA-1’s (the “Separate Account”) annual and semiannual reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, they will be made available on TIAA’s website, TIAA.org, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive these reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive reports and other communications from the Separate Account electronically anytime by updating your account settings at TIAA.org/eDelivery.

You may elect to receive all future reports in paper free of charge. To do so, you can update your account settings at TIAA.org/eDelivery or call 800-223-1200 during regular business hours to let the Separate Account know you wish to continue receiving paper copies of your reports. Your election to receive reports in paper will apply to all funds held with the Separate Account and any other investment companies within the same group of related investment companies.

Contents

Proposals for action at the 2019 investor meeting	3
Understanding this report	3
Information for contractowners	4
Important information about expenses	5
About the Account’s benchmark	6
Account performance
Stock Index Account	7
Summary portfolio of investments	10
Audited financial statements
Statement of assets and liabilities	14
Statement of operations	15
Statements of changes in net assets	16
Financial highlights	18
Notes to financial statements	20
Report of independent registered public accounting firm	28
Management committee members and officers	30
How to reach us	Inside back cover

Proposals for action at the 2019 investor meeting

We anticipate that the next meeting of investors of the Separate Account will be held in July 2019; however, the exact date, time and location of such meeting have yet to be determined. Proposals submitted by or on behalf of investors pursuant to Rule 14a-8 under the Securities Exchange Act of 1934 for inclusion in the proxy materials for the 2019 investor meeting must be received by the Separate Account’s Corporate Secretary no earlier than January 2, 2019, and no later than March 15, 2019. The submission of a proposal does not assure its inclusion in the Separate Account’s proxy statement or presentation at the meeting. Unless the Separate Account is notified by April 24, 2019, of other matters that may be properly brought before the 2019 investor’s meeting by or on behalf of investors, the persons named in the proxy will have the discretion to vote on those matters as they see fit.

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 Separate Account’s results for the twelve months ended December 31, 2018. The report contains three main sections:

• The Separate Account performance section compares the Separate 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 Separate Account had investments as of December 31, 2018.

• The financial statements provide detailed information about the operations and financial condition of the Separate 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 Separate Account, please read 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.

TIAA Separate Account VA-1 ◾ 2018 Annual Report    3

Information for contractowners

Portfolio holdings

The TIAA Separate Account VA-1’s summary portfolio of investments begins on page 10 of this report.

You can obtain a complete list of the 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 Separate Account’s portfolio holdings 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 Separate 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 Separate Account.

4    2018 Annual Report ◾ TIAA Separate Account VA-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 this report is intended to help you understand your ongoing costs (in U.S. dollars) and does not reflect transactional costs. 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, 2018–December 31, 2018).

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.

TIAA Separate Account VA-1 ◾ 2018 Annual Report    5

Important information about expenses

Expense example

Six months ended December 31, 2018

Stock Index Account	Beginning  account value  (7/1/18)		Ending  account value  (12/31/18)		Expenses paid  during period* (7/1/18–12/31/18)
Actual return		$1,000.00		$  915.21		$3.62
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, 2018. 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.

6    2018 Annual Report ◾ TIAA Separate Account VA-1

Stock Index Account

Performance for the twelve months ended December 31, 2018

The Stock Index Account returned –5.88% for the year, compared with the –5.24% 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.

The U.S. economy grew at a solid pace in 2018, while inflation remained moderate. The unemployment rate fell to 3.7%—its lowest level in nearly 50 years—before ending the period at 3.9% on December 31, 2018. Wage growth increased and consumer confidence was strong. The Federal Reserve responded to the growing economy by raising the federal funds target rate four times during the period, increasing the key short-term interest-rate measure to 2.25%–2.50%. Oil prices declined for the year, falling sharply over the final three months of the period. Concerns over rising interest rates, trade tensions with China and a decelerating global economy weighed on markets in the latter months of the period.

The performance of the broad U.S. stock market, as measured by the Russell 3000 Index, was negative across investment styles and capitalization sizes. Growth stocks performed better than value shares, and large-cap stocks surpassed mid-cap and small-cap equities. (Returns by investment style and capitalization size are based on the Russell indexes.)

Financials and industrials led the benchmark’s decline

Eight of the eleven industry sectors in the Russell 3000 Index posted losses for the year. The worst-performing sectors were energy (down 19.8%), materials (down 17.4%) and industrials (down 14.0%). Financials (down 12.7%)—the benchmark’s second-largest sector—detracted most from the index’s return amid concerns that rising short-term interest rates would reduce banks’ profits. Together, these four sectors represented more than one-third of the benchmark’s total market capitalization on December 31, 2018. The sectors with positive performance were health care (up 5.2%), utilities (up 4.5%) and information technology (up 3.1%), which was the index’s largest sector.

For the twelve-month period, four of the benchmark’s five largest stocks outperformed the benchmark’s overall return. Amazon.com performed best with strong double-digit gains, followed by Microsoft. Berkshire Hathaway posted a single-digit rise. Johnson & Johnson declined amid uncertainty about drug prices but outpaced the benchmark’s return. Apple slightly underperformed the index as concerns about U.S.-Chinese trade issues and slowing global growth weighed on the stock.

TIAA Separate Account VA-1 ◾ 2018 Annual Report    7

Stock Index Account

Performance as of December 31, 2018

			Total return			Average annual total return
	Inception date		1 year			5 years			10 years
Stock Index Account		11/1/1994		–5.88	%		7.15	%		12.39	%
Russell 3000 Index		—		–5.24			7.91			13.18

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.

8    2018 Annual Report ◾ TIAA Separate Account VA-1

Stock Index Account

Portfolio composition

Sector	% of net assets as of 12/31/2018
Information technology		19.7
Health care		15.0
Financials		13.8
Consumer discretionary		10.3
Industrials		9.9
Communication services		9.1
Consumer staples		6.6
Energy		4.9
Real estate		3.9
Utilities		3.3
Materials		3.0
Short-term investments, other assets & liabilities, net		0.5
Total		100.0

Holdings by company size

Market capitalization	% of equity investments as of 12/31/2018
More than $50 billion	54.4
More than $15 billion–$50 billion	22.6
More than $2 billion–$15 billion	19.0
$2 billion or less	4.0
Total	100.0

TIAA Separate Account VA-1 ◾ 2018 Annual Report    9

Summary portfolio of investments

Stock Index Account  §  December 31, 2018

Shares		Company	Value (000)		% of net assets
	COMMON STOCKS
	AUTOMOBILES & COMPONENTS		$	7,013		0.8	%
	BANKS
	337,604	Bank of America Corp		8,318		0.9
	89,676	Citigroup, Inc		4,668		0.5
	121,265	JPMorgan Chase & Co		11,838		1.3
	156,002	Wells Fargo & Co		7,189		0.8
		Other		23,398		2.5
				55,411		6.0
	CAPITAL GOODS
	20,713	3M Co		3,947		0.4
	19,692	Boeing Co		6,351		0.7
	27,147	Honeywell International, Inc		3,587		0.4
		Other		49,063		5.3
				62,948		6.8
	COMMERCIAL & PROFESSIONAL SERVICES			9,709		1.1
	CONSUMER DURABLES & APPAREL			11,902		1.3
	CONSUMER SERVICES
	28,149	McDonald’s Corp		4,998		0.5
		Other		16,276		1.8
				21,274		2.3
	DIVERSIFIED FINANCIALS			33,310		3.6
	ENERGY
	69,106	Chevron Corp		7,518		0.8
	153,814	Exxon Mobil Corp		10,489		1.1
		Other		27,430		3.0
				45,437		4.9
	FOOD & STAPLES RETAILING
	51,930	Walmart, Inc		4,837		0.5
		Other		8,042		0.9
				12,879		1.4
	FOOD, BEVERAGE & TOBACCO
	139,812	Coca-Cola Co		6,620		0.7
	51,496	PepsiCo, Inc		5,689		0.6
	56,476	Philip Morris International, Inc		3,770		0.4
		Other		16,985		1.9
				33,064		3.6
	HEALTH CARE EQUIPMENT & SERVICES
	62,561	Abbott Laboratories		4,525		0.5
	49,002	Medtronic plc		4,457		0.5
	34,974	UnitedHealth Group, Inc		8,713		0.9
		Other		41,775		4.5
				59,470		6.4

10 2018 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Summary portfolio of investments continued

Stock Index Account  §  December 31, 2018

Shares			Company	Value (000)		% of net assets
	HOUSEHOLD & PERSONAL PRODUCTS
	90,740		Procter & Gamble Co	$	8,341		0.9	%
			Other		6,686		0.7
					15,027		1.6
	INSURANCE
	70,240	*	Berkshire Hathaway, Inc (Class B)		14,342		1.6
			Other		24,253		2.6
					38,595		4.2
	MATERIALS
	84,317		DowDuPont, Inc		4,510		0.5
			Other		23,332		2.5
					27,842		3.0
	MEDIA & ENTERTAINMENT
	10,897	*	Alphabet, Inc (Class A)		11,387		1.2
	11,105	*	Alphabet, Inc (Class C)		11,500		1.3
	166,233		Comcast Corp (Class A)		5,660		0.6
	86,884	*	Facebook, Inc		11,390		1.2
	15,163	*	NetFlix, Inc		4,058		0.4
	53,869		Walt Disney Co		5,907		0.7
			Other		15,572		1.7
					65,474		7.1
	PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
	55,644		AbbVie, Inc		5,130		0.6
	23,558		Amgen, Inc		4,586		0.5
	34,676		Eli Lilly & Co		4,013		0.4
	98,029		Johnson & Johnson		12,651		1.4
	211,107		Pfizer, Inc		9,215		1.0
	95,805		Schering-Plough Corp		7,320		0.8
			Other		35,459		3.8
					78,374		8.5
	REAL ESTATE				35,818		3.9
	RETAILING
	14,862	*	Amazon.com, Inc		22,323		2.4
	41,992		Home Depot, Inc		7,215		0.8
			Other		24,867		2.7
					54,405		5.9
	SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT
	15,119		Broadcom, Inc		3,844		0.4
	167,539		Intel Corp		7,863		0.9
			Other		21,246		2.3
					32,953		3.6
	SOFTWARE & SERVICES
	17,995	*	Adobe, Inc		4,071		0.4
	33,210		International Business Machines Corp		3,775		0.4

See notes to financial statements TIAA Separate Account VA-1   §   2018 Annual Report 11

Summary portfolio of investments continued

Stock Index Account  §  December 31, 2018

Shares			Company		Value (000)			% of net assets
	SOFTWARE & SERVICES—continued
	33,412		MasterCard, Inc (Class A)		$	6,303			0.7	%
	276,926		Microsoft Corp			28,127			3.1
	94,143		Oracle Corp			4,251			0.5
	43,511	*	PayPal Holdings, Inc			3,659			0.4
	64,932		Visa, Inc (Class A)			8,567			0.9
			Other			41,935			4.5
						100,688			10.9
	TECHNOLOGY HARDWARE & EQUIPMENT
	173,841	d	Apple, Inc			27,421			3.0
	166,923		Cisco Systems, Inc			7,233			0.8
			Other			14,157			1.5
						48,811			5.3
	TELECOMMUNICATION SERVICES
	263,950		AT&T, Inc			7,533			0.8
	151,357		Verizon Communications, Inc			8,509			0.9
			Other			2,163			0.3
						18,205			2.0
	TRANSPORTATION
	26,900		Union Pacific Corp			3,719			0.4
			Other			14,942			1.6
						18,661			2.0
	UTILITIES					30,246			3.3
			TOTAL COMMON STOCKS	(Cost $417,196)		917,516			99.5
	RIGHTS / WARRANTS
	PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					1			0.0
			TOTAL RIGHTS / WARRANTS	(Cost $0)		1			0.0
Principal			Issuer
	SHORT-TERM INVESTMENTS
	GOVERNMENT AGENCY DEBT
	$4,330,000		Federal Home Loan Bank (FHLB)	2.150%, 01/02/19		4,330			0.5
						4,330			0.5
Shares			Company
	INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	4,765,978	c	State Street Navigator Securities Lending Government Money Market Portfolio	,		4,766			0.5
						4,766			0.5
			TOTAL SHORT-TERM INVESTMENTS	(Cost $9,096)		9,096			1.0
			TOTAL PORTFOLIO	(Cost $426,292)		926,613			100.5
			OTHER ASSETS & LIABILITIES, NET			(4,655	)		(0.5	)
			NET ASSETS		$	921,958			100.0	%

12 2018 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Summary portfolio of investments concluded

Stock Index Account  §  December 31, 2018

* 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 to cover margin requirements on open futures contracts.

“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 12/31/18, the aggregate value of securities on loan is $4,611,054.

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, 2018 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		36	03/15/19	$	4,781	$	4,509	$	(272	)

See notes to financial statements TIAA Separate Account VA-1   §   2018 Annual Report 13

Statement of assets and liabilities

TIAA Separate Account VA-1  §  December 31, 2018

(amounts in thousands, except accumulation unit value)	Stock Index Account
ASSETS
Portfolio investments, at value*†	$	926,613
Cash		938
Dividends and interest receivable		1,105
Receivable from securities transactions		30
Other		159
Total assets		928,845
LIABILITIES
Investment management fees payable		11
Service agreement fees payable		15
Payable for collateral for securities loaned		4,766
Payable for securities transactions		18
Due to affiliates		1,618
Payable for variation margin on open futures contracts		272
Payable for manager compensation		156
Other		31
Total liabilities		6,887
NET ASSETS
Accumulation Fund	$	921,958
Accumulation units outstanding		4,799
Accumulation unit value	$	192.10
*   Portfolio investments, at cost	$	426,292
† Includes securities loaned of	$	4,611

14 2018 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Statement of operations

TIAA Separate Account VA-1  §  For the year ended December 31, 2018

(amounts in thousands)	Stock Index Account
INVESTMENT INCOME
Dividends*	$	22,179
Income from securities lending		171
Interest		104
Total income		22,454
EXPENSES
Administrative services		2,102
Investment advisory		3,154
Mortality and expense risk charges		4,205
Total expenses		9,461
Less: Expense waiver by investment adviser		(1,577	)
Net expenses		7,884
Net investment income (loss)		14,570
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS
Realized gain (loss):
Portfolio investments		55,073
Futures contracts		(203	)
Net realized gain (loss) on total investments		54,870
Change in unrealized appreciation (depreciation) on:
Portfolio investments		(124,565	)
Futures contracts		(325	)
Net change in unrealized appreciation (depreciation) on total investments		(124,890	)
Net realized and unrealized gain (loss) on total investments		(70,020	)
Net increase (decrease) in net assets from operations	$	(55,450	)
*   Net of foreign withholding taxes	$	2

See notes to financial statements TIAA Separate Account VA-1   §   2018 Annual Report 15

Statements of changes in net assets

TIAA Separate Account VA-1  §  For the year ended

	Stock Index Account
(amounts in thousands)	December 31, 2018			December 31, 2017
OPERATIONS
Net investment income (loss)	$	14,570		$	11,944
Net realized gain (loss) on total investments		54,870			46,726
Net change in unrealized appreciation (depreciation) on total investments		(124,890	)		126,180
Net increase (decrease) in net assets from operations		(55,450	)		184,850
FROM CONTRACTOWNER TRANSACTIONS
Premiums		20,268			19,045
Withdrawals and death benefits		(103,299	)		(95,375	)
Net increase (decrease) from contractowner transactions		(83,031	)		(76,330	)
Net increase (decrease) in net assets		(138,481	)		108,520
NET ASSETS
Beginning of period		1,060,439			951,919
End of period	$	921,958		$	1,060,439
ACCUMULATION UNITS
Units purchased		96			102
Units sold / transferred		(493	)		(513	)
Outstanding
Beginning of period		5,196			5,607
End of period		4,799			5,196

16 2018 Annual Report   §   TIAA Separate Account VA-1 See notes to financial statements

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TIAA Separate Account VA-1   §   2018 Annual Report 17

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
		12/31/18	$	4.501	$	1.580	$	2.921	$	(14.924	)	$	(12.003	)	$	204.101
		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

a Based on average units outstanding.

b Based on per accumulation unit data.

18 2018 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 period (in millions)		Net assets at the end of year (in millions)
	$192.098		(5.88	)%		0.90	%		0.75	%		1.39	%		3	%		5	$	922
	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

See notes to financial statements TIAA Separate Account VA-1   §   2018 Annual Report 19

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 U.S. 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, as a component of the TIAA tax return, a U.S. Federal

20 2018 Annual Report   §   TIAA Separate Account VA-1

income tax return. The Account also files income tax returns in applicable 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 income tax years and has concluded that no provision for 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 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 accounting pronouncement: In August 2018, FASB issued ASU 2018-13, Fair Value Measurement: Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurements. ASU 2018-13 removes or modifies certain disclosures required for fair value measurements. This guidance is effective for fiscal years beginning after December 15, 2019. Management has early implemented this accounting pronouncement for this annual report. This implementation did not have a material impact on the Account’s financial statements and various filings. Refer to Note 2 for further details.

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-CEN and N-PORT, and amends Regulation S-X disclosures related to derivatives and other disclosures in the financial statements and various 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 2019, but still requires the Account to maintain the data that would have been filed on Form N-PORT during the deferral period. Form N-CEN and the data requirements of Form N-PORT were implemented on June 1, 2018 and did not have an impact on net assets or results of operations.

In October 2016, the Commission issued Final Rule Release No. 33-10233, Investment Company Liquidity Risk Management Programs. This final rule requires Accounts to establish a liquidity risk management program and enhances disclosures regarding account’s liquidity. The requirements of this final rule, in relation to the establishment of the liquidity risk management program and the 15% illiquid investment limit, must be implemented by the December 1, 2018

TIAA Separate Account VA-1   §   2018 Annual Report 21

Notes to financial statements

compliance date. This portion of the implementation did not have a material impact on the Account’s financial statements and various filings. In February 2018, the Commission issued Release No. IC-33142, which delayed certain compliance requirements related to liquidity classification, highly liquid investment minimums, and board approval of the liquidity risk management programs from December 1, 2018 to June 1, 2019. Management is currently assessing the impact of these provisions on the Account’s financial statements and various 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.

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 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.

22 2018 Annual Report   §   TIAA Separate Account VA-1

continued

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.

The following table summarizes the market value of the Account’s investments as of December 31, 2018, based on the inputs used to value them (dollar amounts are in thousands):

	Level 1			Level 2		Level 3		Total
Equity investments:
Consumer discretionary	$	94,594		$	—		$        —	$	94,594
Comsumer staples		60,970			—		—		60,970
Health care		137,844			—		1		137,845
Materials		27,840			2		—		27,842
All other equity investments*		596,266			—		—		596,266
Short-term investments		4,766			4,330		—		9,096
Futures contracts**		(272	)		—		—		(272	)
Total	$	922,008		$	4,332	$	1	$	926,341

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

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

Note 3—derivative instruments

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

TIAA Separate Account VA-1   §   2018 Annual Report 23

Notes to financial statements

At December 31, 2018, 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 contracts	*	$	(272	)

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

For the year ended December 31, 2018, 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 contracts	$	(203	)	$	(325	)

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, 2018, 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, 2018 are disclosed in the Summary portfolio of investments and the full schedule of investments.

24 2018 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, 2018, 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, 2018, securities lending transactions are for equity securities, and the resulting loans are continuous, can be recalled at any time, and have no set maturity. Securities

TIAA Separate Account VA-1   §   2018 Annual Report 25

Notes to financial statements

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, 2018, 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 in thousands):

Tax cost	Gross unrealizedappreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
$426,292	$	543,786	$	(43,737	)	$	500,049

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 securities (other than short-term instruments) for the Account for the year ended December 31, 2018 were as follows (dollar amounts are in thousands):

Non-U.S. government purchases		Non-U.S. government sales
$	28,281	$	97,200

Note 6—inter-fund lending program

Pursuant to an exemptive order issued by the Commission, the Account may participate in an inter-fund lending program. This program allows the Account to lend cash to and/or borrow cash from certain affiliated registered investment companies for temporary purposes (e.g., to satisfy redemption requests or to cover unanticipated cash shortfalls). The program is subject to a number of conditions, including the requirement that the Account may not borrow or lend money under the

26 2018 Annual Report   §   TIAA Separate Account VA-1

concluded

program unless it receives a more favorable interest rate than is available from a bank or other financial institution for a comparable transaction. In addition, the Account may participate in the program only if its participation is consistent with the Account’s investment policies and limitations and authorized by its portfolio manager(s). During the year ended December 31, 2018, there were no inter-fund borrowing or lending transactions.

Note 7—line of credit

The Account participates in a $1.25 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 19, 2018 expiring on June 18, 2019, replacing the previous $1.5 billion facility, which expired June 2018. Certain affiliated accounts and mutual funds, each of which is managed by Advisors, or an affiliate of Advisors, also participate in this facility. An annual commitment fee for the credit facility is borne by the participating accounts and mutual funds on a pro rata basis. Interest associated with any borrowing under the facility is charged to the borrowing 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, 2018, there were no borrowings under this credit facility by the Account.

Note 8—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.

Note 9—legal proceedings

The Account was named as defendant and a putative member of the proposed defendant class of shareholders, or could be added as a defendant, in pending litigation by the Bankruptcy Litigation Trustee for the Tribune Company (Tribune) and certain creditors of Tribune, as a result of its ownership of shares of Tribune in 2007 when Tribune effected a leveraged buyout transaction (LBO) and was converted to a privately held company. The plaintiffs in that litigation seek to recover payments of the proceeds of the LBO. The litigation is now part of a multi-district litigation proceeding in the Southern District of New York and the Second Court of Appeals. The Account’s exposure related to this matter is estimated to be 0.06% of net assets as of December 31, 2018.

TIAA Separate Account VA-1   §   2018 Annual Report 27

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, 2018, the related statement of operations for the year ended December 31, 2018, the statement of changes in net assets for each of the two years in the period ended December 31, 2018, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2018 (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, 2018, 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, 2018 and the financial highlights for each of the five years in the period ended December 31, 2018 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, 2018 by correspondence with

28 2018 Annual Report   §   TIAA Separate Account VA-1

the custodian, 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.

PricewaterhouseCoopers LLP

Baltimore, Maryland

February 21, 2019

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   §   2018 Annual Report 29

Management committee members and officers (unaudited)

TIAA Separate Account VA-1  §  December 31, 2018

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 member	Other directorship(s) held by member
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).	89	Investment Committee member, Maine Community Foundation and the Elmina B. Sewall Foundation.
Janice C. Eberly c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1962	Member	Indefinite term. Member since 2018.	James R. and Helen D. Russell Professor of Finance at the Kellogg School of Management at Northwestern University (2002–2011 and since 2013) and Chair of the Finance Department (2005–2007). Assistant Secretary for Economic Policy, United States Department of the Treasury (2011–2013).	89	Member of the Board of the Office of Finance, Federal Home Loan Banks.
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.	89	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).	89	Director of Copper Rock Capital Partners, LLC (investment adviser).

30 2018 Annual Report   §   TIAA Separate Account VA-1

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.	89	Director, Commonwealth.
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. Trustee since 2011; Chairman for term ending July 1, 2021. Chairman since 2017.	Advisory Director (2010–2011), Partner (2004–2010), Managing Director (1999–2004), Co-Head of Global Cash and Fixed Income Portfolio Management Team (2002–2010), Goldman Sachs Asset Management.	89	Director and Finance and Investment Committee Chair, Aflac Incorporated; Director and Investment Committee member, Sansum Clinic; Director, ParentSquare; Investment Committee member, Cottage Health System; Member, University of California at Santa Barbara Arts and Lectures Advisory Council.
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).	89	Director, The Alfred P. Sloan Foundation and National Bureau of Economic Research; Member, Congressional Budget Office Panel of Economic Advisers.
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. (1991–2018); 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).	89	N/A

TIAA Separate Account VA-1   §   2018 Annual Report 31

Management committee members and officers (unaudited) continued

TIAA Separate Account VA-1  §  December 31, 2018

Members—concluded

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 member	Other directorship(s) held by member
Laura T. Starks c/o Corporate Secretary 730 Third Avenue New York, NY 10017-3206 YOB: 1950	Member	Indefinite term. Member since 2006.	Charles E. and Sarah M. Seay Regents Chair in Finance (since 2002), Co-Executive Director of the Social Innovation Initiative (since 2015), Director of the AIM Investment Center (2000–2016), Associate Dean for Research (2011–2016), Chairman, Department of Finance, (2002–2011), and Professor, McCombs School of Business, University of Texas at Austin (since 1987).	89	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.

32 2018 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
Vijay Advani TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1960	Executive Vice President	One-year term. Executive Vice President since 2018.	Chief Executive Officer, Nuveen. Executive Vice President 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 Nuveen, Mr. Advani served as Co-President of Franklin Resources, Inc.-Franklin Templeton Investments.
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 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.	Senior Managing Director, 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.
Jose Minaya TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1971	Executive Vice President	One-year term. Executive Vice President since 2018.	Executive Vice President, Chief Investment Officer and President, Nuveen Global Investments. Executive Vice President of the TIAA-CREF Fund Complex. Formerly, Senior Managing Director, President, Global Investments, TIAA.

TIAA Separate Account VA-1   §   2018 Annual Report 33

Management committee members and officers (unaudited) concluded

TIAA Separate Account VA-1  §  December 31, 2018

Officers—concluded

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
Phillip T. Rollock TIAA 730 Third Ave. New York, NY 10017-3206 YOB: 1962	Executive Vice President and Chief Legal Officer	One-year term. Executive Vice President and Chief Legal Officer since 2018.	Executive Vice President and Chief Legal Officer of TIAA and the TIAA-CREF Fund Complex. Formerly, Senior Managing Director, Deputy Chief Legal Officer and Corporate Secretary of TIAA.
Christopher A. Van Buren TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1962	Executive Vice President	One-year term. Executive Vice President since 2018.	Executive Vice President, Chief Risk Officer of TIAA, and Executive Vice President of the TIAA-CREF Fund Complex. Prior to joining TIAA, Mr. Van Buren served as Managing Director, Group Risk Control of UBS.
E. Scott Wickerham TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1973	Principal Financial Officer, Principal Accounting Officer and Treasurer	One-year Principal Financial Officer, Principal Accounting Officer and Treasurer since 2017.	Managing Director, Head, TC Fund Administration, 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.
Sean N. Woodroffe TIAA 730 Third Avenue New York, NY 10017-3206 YOB: 1963	Executive Vice President	One-year term. Executive Vice President since 2018.	Senior Executive Vice President, Chief Human Resources Officer of TIAA, and Executive Vice President of the TIAA-CREF Fund Complex. Prior to joining TIAA, Mr. Woodroffe served as Chief People Officer at National Life Group.

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

34 2018 Annual Report   §   TIAA Separate Account VA-1

How to reach us

TIAA website	Insurance planning center After-tax annuities and life insurance For an existing policy or contract 800-223-1200 To apply for a new policy or contract 877-825-0411 8 a.m. to 8 p.m. (ET), Monday–Friday For the hearing- or speech-impaired 800-842-2755 8 a.m. to 10 p.m. (ET), Monday–Friday 9 a.m. to 6 p.m. (ET), Saturday
Account performance, personal account
information and transactions, product
descriptions, and information about investment choices and income options
TIAA.org
Automated telephone service
Check account performance and accumulation balances, change allocations, transfer funds and verify credited premiums 800-842-2252 24 hours a day, 7 days a week
National contact center
Retirement saving and planning, income
options and payments, beneficiary services
and tax reporting
800-842-2252
8 a.m. to 10 p.m. (ET), Monday–Friday
9 a.m. to 6 p.m. (ET), Saturday

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 Federal Deposit Insurance Corporation (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. TIAA Separate Account VA-1 is 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.

©2019 Teachers Insurance and Annuity Association of America—College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017-3206

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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) Maceo K. Sloan 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, 2018 and December 31, 2017, PwC’s aggregate fees for the audit of the Registrant’s annual financial statements were $55,945 and $54,580, respectively.

4(b) Audit Related Fees.

For the fiscal years ended December 31, 2018 and December 31, 2017, 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, 2018 and December 31, 2017, 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, 2018 and December 31, 2017, PwC’s aggregate fees for tax services billed to the Registrant were $0 and $0, respectively.

For the fiscal years ended December 31, 2018 and December 31, 2017, 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, 2018 and December 31, 2017, PwC’s aggregate fees for all other services billed to the Registrant were $3,035 and $3,000, respectively.

For the fiscal years ended December 31, 2018 and December 31, 2017, 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, 2018 and December 31, 2017 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, 2018 and December 31, 2017 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, 2018 and December 31, 2017 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, 2018 and December 31, 2017 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, 2018 and December 31, 2017 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, 2018 and December 31, 2017 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, 2018 and December 31, 2017, aggregate non-audit fees billed to the Registrant and to its Fund Service Providers by PwC were $229,000 and $208,315, 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, 2018

SHARES		COMPANY	VALUE (000)
COMMON STOCKS - 99.5%
AUTOMOBILES & COMPONENTS - 0.8%
3,669		Adient plc	$	55
3,248	*	American Axle & Manufacturing Holdings, Inc		36
7,322		BorgWarner, Inc		254
1,678		Cooper Tire & Rubber Co		54
671	*	Cooper-Standard Holding, Inc		42
5,567		Dana Holding Corp		76
9,462		Delphi Automotive plc		583
1,044	*	Dorman Products, Inc		94
140,555		Ford Motor Co		1,075
1,363	*	Fox Factory Holding Corp		80
2,714	*,e	Garrett Motion, Inc		34
47,547		General Motors Co		1,590
10,320		Gentex Corp		209
1,424	*	Gentherm, Inc		57
8,172		Goodyear Tire & Rubber Co		167
6,307		Harley-Davidson, Inc		215
938		LCI Industries, Inc		63
2,291		Lear Corp		281
1,945	*	Modine Manufacturing Co		21
670	*	Motorcar Parts of America, Inc		11
313	*	Shiloh Industries, Inc		2
1,379		Spartan Motors, Inc		10
843		Standard Motor Products, Inc		41
1,055	*	Stoneridge, Inc		26
1,027		Superior Industries International, Inc		5
2,045		Tenneco, Inc		56
4,980	*	Tesla, Inc		1,657
1,931		Thor Industries, Inc		100
897		Tower International, Inc		21
1,140	*	Visteon Corp		69
1,185		Winnebago Industries, Inc		29
		TOTAL AUTOMOBILES & COMPONENTS		7,013
BANKS - 6.0%
625		1st Source Corp		25
486		Access National Corp		10
255		ACNB Corp		10
444	*	Allegiance Bancshares, Inc		14
374		American National Bankshares, Inc		11
1,390		Ameris Bancorp		44
387		Ames National Corp		10
413		Arrow Financial Corp		13
6,603		Associated Banc-Corp		131
706	*	Atlantic Capital Bancshares, Inc		12
2,322	*	Axos Financial, Inc		59
1,598		Banc of California, Inc		21
666		Bancfirst Corp		33
3,345		BancorpSouth Bank		87
337,604		Bank of America Corp		8,318
601		Bank of Commerce Holdings		7
1,630		Bank of Hawaii Corp		110
468		Bank of Marin Bancorp		19
2,093		Bank of NT Butterfield & Son Ltd		66
4,451		Bank OZK		102
457		BankFinancial Corp		7

1

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,119		BankUnited	$	123
217		Bankwell Financial Group, Inc		6
1,278		Banner Corp		68
622		Bar Harbor Bankshares		14
385	*	Baycom Corp		9
28,410		BB&T Corp		1,231
361		BCB Bancorp, Inc		4
2,708		Beneficial Bancorp, Inc		39
1,314		Berkshire Hills Bancorp, Inc		35
901		Blue Hills Bancorp, Inc		19
1,053		BOK Financial Corp		77
3,231		Boston Private Financial Holdings, Inc		34
683		Bridge Bancorp, Inc		17
2,984		Brookline Bancorp, Inc		41
630		Bryn Mawr Bank Corp		22
334	*	BSB Bancorp, Inc		9
313		Business First Bancshares, Inc		8
241	*	Byline Bancorp, Inc		4
131		C&F Financial Corp		7
1,724		Cadence BanCorp		29
135		Cambridge Bancorp		11
613		Camden National Corp		22
447		Capital City Bank Group, Inc		10
4,687		Capitol Federal Financial		60
314		Capstar Financial Holdings, Inc		5
555		Carolina Financial Corp		16
2,923		Cathay General Bancorp		98
654		CBTX, Inc		19
3,434		Centerstate Banks of Florida, Inc		72
1,125		Central Pacific Financial Corp		27
383		Central Valley Community Bancorp		7
152		Century Bancorp, Inc		10
2,638		Chemical Financial Corp		97
122		Chemung Financial Corp		5
4,046		CIT Group, Inc		155
89,676		Citigroup, Inc		4,668
533		Citizens & Northern Corp		14
16,885		Citizens Financial Group, Inc		502
597		City Holding Co		40
377		Civista Bancshares, Inc		7
498		CNB Financial Corp		11
359		Codorus Valley Bancorp, Inc		8
2,875		Columbia Banking System, Inc		104
1,738	*	Columbia Financial, Inc		27
6,121		Comerica, Inc		420
3,550		Commerce Bancshares, Inc		200
254		Commerce Union Bancshares, Inc		6
1,925		Community Bank System, Inc		112
837	*	Community Bankers Trust Corp		6
153		Community Financial Corp		5
651		Community Trust Bancorp, Inc		26
1,146		ConnectOne Bancorp, Inc		21
206		County Bancorp, Inc		4
2,189		Cullen/Frost Bankers, Inc		193
1,005	*	Customers Bancorp, Inc		18
4,043		CVB Financial Corp		82
1,325		Dime Community Bancshares		23
1,035	*	Eagle Bancorp, Inc		50
5,381		East West Bancorp, Inc		234
192	*	Entegra Financial Corp		4
314		Enterprise Bancorp, Inc		10
828		Enterprise Financial Services Corp		31
402	*	Equity Bancshares, Inc		14
342		ESSA Bancorp, Inc		5

2

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,541	*	Essent Group Ltd	$	121
171		Evans Bancorp, Inc		6
356		Farmers & Merchants Bancorp, Inc		14
1,013		Farmers National Banc Corp		13
246		FB Financial Corp		9
1,363	*	FCB Financial Holdings, Inc		46
384		Federal Agricultural Mortgage Corp (Class C)		23
863		Fidelity Southern Corp		22
24,249		Fifth Third Bancorp		571
527		Financial Institutions, Inc		14
1,088		First Bancorp (NC)		36
6,201		First Bancorp (Puerto Rico)		53
498		First Bancorp, Inc		13
322		First Bancshares, Inc		10
603		First Bank		7
1,476		First Busey Corp		36
360		First Business Financial Services, Inc		7
295		First Citizens Bancshares, Inc (Class A)		111
3,678		First Commonwealth Financial Corp		44
680		First Community Bancshares, Inc		21
736		First Defiance Financial Corp		18
3,697		First Financial Bancorp		88
2,466		First Financial Bankshares, Inc		142
384		First Financial Corp		15
175		First Financial Northwest, Inc		3
1,098	*	First Foundation, Inc		14
162		First Guaranty Bancshares, Inc		4
2,551		First Hawaiian, Inc		57
11,602		First Horizon National Corp		153
228		First Internet Bancorp		5
951		First Interstate Bancsystem, Inc		35
1,580		First Merchants Corp		54
380		First Mid-Illinois Bancshares, Inc		12
3,920		First Midwest Bancorp, Inc		78
327		First Northwest Bancorp		5
862		First of Long Island Corp		17
5,972		First Republic Bank		519
890	*	Flagstar Bancorp, Inc		24
1,083		Flushing Financial Corp		23
12,570		FNB Corp		124
389	*	Franklin Financial Network, Inc		10
6,701		Fulton Financial Corp		104
903		German American Bancorp, Inc		25
2,999		Glacier Bancorp, Inc		119
412		Great Southern Bancorp, Inc		19
2,200		Great Western Bancorp, Inc		69
688		Green Bancorp, Inc		12
113		Greene County Bancorp, Inc		4
913		Guaranty Bancorp		19
275		Guaranty Bancshares, Inc		8
3,286		Hancock Holding Co		114
1,297		Hanmi Financial Corp		26
406	*	HarborOne Bancorp, Inc		6
953		Heartland Financial USA, Inc		42
1,355		Heritage Commerce Corp		15
1,150		Heritage Financial Corp		34
2,919		Hilltop Holdings, Inc		52
57		Hingham Institution for Savings		11
238		Home Bancorp, Inc		8
6,066		Home Bancshares, Inc		99
698	*	HomeStreet, Inc		15
667		HomeTrust Bancshares, Inc		18
5,041		Hope Bancorp, Inc		60
1,209		Horizon Bancorp		19

3

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
323	*	Howard Bancorp, Inc	$	5
40,501		Huntington Bancshares, Inc		483
1,963		IBERIABANK Corp		126
350	*,e	Impac Mortgage Holdings, Inc		1
1,031		Independent Bank Corp (MA)		73
863		Independent Bank Corp (MI)		18
679		Independent Bank Group, Inc		31
2,138		International Bancshares Corp		74
299		Investar Holding Corp		7
10,225		Investors Bancorp, Inc		106
121,265		JPMorgan Chase & Co		11,838
4,372		Kearny Financial Corp		56
39,132		Keycorp		578
1,629		Lakeland Bancorp, Inc		24
976		Lakeland Financial Corp		39
378		LCNB Corp		6
1,826		LegacyTexas Financial Group, Inc		59
287	*,e	LendingTree, Inc		63
833		Live Oak Bancshares, Inc		12
5,196		M&T Bank Corp		744
1,072		Macatawa Bank Corp		10
236	*	Malvern Bancorp, Inc		5
3,131		MB Financial, Inc		124
540		MBT Financial Corp		5
640		Mercantile Bank Corp		18
573		Merchants Bancorp		11
1,997		Meridian Bancorp, Inc		29
1,035		Meta Financial Group, Inc		20
229	*	Metropolitan Bank Holding Corp		7
13,096	*	MGIC Investment Corp		137
96		Middlefield Banc Corp		4
582		Midland States Bancorp, Inc		13
334		Midsouth Bancorp, Inc		4
406		MidWestOne Financial Group, Inc		10
280	*	Mr Cooper Group, Inc		3
213		MutualFirst Financial, Inc		6
984		National Bank Holdings Corp		30
257		National Bankshares, Inc		9
405	*	National Commerce Corp		15
1,661		NBT Bancorp, Inc		57
17,474		New York Community Bancorp, Inc		164
301	*	Nicolet Bankshares, Inc		15
2,265	*	NMI Holdings, Inc		40
256		Northeast Bancorp		4
1,643		Northfield Bancorp, Inc		22
280		Northrim BanCorp, Inc		9
3,683		Northwest Bancshares, Inc		62
223		Norwood Financial Corp		7
1,583		OceanFirst Financial Corp		36
1,902		OFG Bancorp		31
160	e	Ohio Valley Banc Corp		6
361		Old Line Bancshares, Inc		10
4,858		Old National Bancorp		75
1,237		Old Second Bancorp, Inc		16
796		Opus Bank		16
568		Origin Bancorp, Inc		19
1,420		Oritani Financial Corp		21
297		Orrstown Financial Services, Inc		5
589	*	Pacific Mercantile Bancorp		4
1,516	*	Pacific Premier Bancorp, Inc		39
4,486		PacWest Bancorp		149
529		Park National Corp		45
198		Parke Bancorp, Inc		4
696		PCSB Financial Corp		14

4

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
642		Peapack Gladstone Financial Corp	$	16
221		Penns Woods Bancorp, Inc		9
575		PennyMac Financial Services, Inc		12
174		Peoples Bancorp of North Carolina, Inc		4
595		Peoples Bancorp, Inc		18
333		Peoples Financial Services Corp		15
13,504		People’s United Financial, Inc		195
521		People’s Utah Bancorp		16
2,763		Pinnacle Financial Partners, Inc		127
17,181		PNC Financial Services Group, Inc		2,009
3,900		Popular, Inc		184
510		Preferred Bank		22
471		Premier Financial Bancorp, Inc		7
2,586		Prosperity Bancshares, Inc		161
168	*	Provident Bancorp, Inc		4
2,502		Provident Financial Services, Inc		60
279		Prudential Bancorp, Inc		5
472		QCR Holdings, Inc		15
6,822		Radian Group, Inc		112
475		RBB Bancorp		8
41,130		Regions Financial Corp		550
1,629		Renasant Corp		49
364		Republic Bancorp, Inc (Class A)		14
1,873	*	Republic First Bancorp, Inc		11
671		Riverview Bancorp, Inc		5
1,349		S&T Bancorp, Inc		51
1,200		Sandy Spring Bancorp, Inc		38
1,542	*	Seacoast Banking Corp of Florida		40
1,876		ServisFirst Bancshares, Inc		60
497		Shore Bancshares, Inc		7
475		SI Financial Group, Inc		6
370		Sierra Bancorp		9
1,852		Signature Bank		190
2,996		Simmons First National Corp (Class A)		72
275	*	SmartFinancial, Inc		5
1,240		South State Corp		74
228	*	Southern First Bancshares, Inc		7
231		Southern Missouri Bancorp, Inc		8
454		Southern National Bancorp of Virginia, Inc		6
1,068		Southside Bancshares, Inc		34
1,460		State Bank & Trust Co		32
7,815		Sterling Bancorp/DE		129
922		Stock Yards Bancorp, Inc		30
394		Summit Financial Group, Inc		8
16,838		SunTrust Banks, Inc		849
1,944	*	SVB Financial Group		369
4,498		Synovus Financial Corp		144
6,199		TCF Financial Corp		121
286		Territorial Bancorp, Inc		7
1,930	*	Texas Capital Bancshares, Inc		99
1,044		TFS Financial Corp		17
1,514	*	The Bancorp, Inc		12
232		Timberland Bancorp, Inc		5
573		Tompkins Trustco, Inc		43
2,493		TowneBank		60
968		Trico Bancshares		33
943	*	Tristate Capital Holdings, Inc		18
657	*	Triumph Bancorp, Inc		20
3,358		Trustco Bank Corp NY		23
2,619		Trustmark Corp		74
1,796		UMB Financial Corp		110
8,613		Umpqua Holdings Corp		137
2,394		Union Bankshares Corp		68
161		Union Bankshares, Inc		8

5

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,861		United Bankshares, Inc	$	120
2,711		United Community Banks, Inc		58
1,829		United Community Financial Corp		16
2,065		United Financial Bancorp, Inc (New)		30
510		United Security Bancshares		5
266		Unity Bancorp, Inc		6
1,012		Univest Corp of Pennsylvania		22
55,835		US Bancorp		2,552
11,790		Valley National Bancorp		105
558	*	Veritex Holdings, Inc		12
1,098		Walker & Dunlop, Inc		48
3,506		Washington Federal, Inc		94
581		Washington Trust Bancorp, Inc		28
1,032		Waterstone Financial, Inc		17
3,586		Webster Financial Corp		177
156,002		Wells Fargo & Co		7,189
1,949		WesBanco, Inc		72
597		West Bancorporation, Inc		11
1,024		Westamerica Bancorporation		57
3,666	*	Western Alliance Bancorp		145
1,021		Western New England Bancorp, Inc		10
2,157		Wintrust Financial Corp		143
1,176		WSFS Financial Corp		45
7,024		Zions Bancorporation		286
		TOTAL BANKS		55,411
CAPITAL GOODS - 6.8%
20,713		3M Co		3,947
5,419		A.O. Smith Corp		231
1,275		Aaon, Inc		45
1,251		AAR Corp		47
2,301		Actuant Corp (Class A)		48
1,438		Acuity Brands, Inc		165
1,431		Advanced Drainage Systems, Inc		35
5,026	*	Aecom Technology Corp		133
1,316	*	Aegion Corp		21
2,671	*	Aerojet Rocketdyne Holdings, Inc		94
831	*	Aerovironment, Inc		56
2,151		AGCO Corp		120
3,064		Air Lease Corp		93
1,259		Aircastle Ltd		22
374		Alamo Group, Inc		29
1,111		Albany International Corp (Class A)		69
3,351		Allegion plc		267
205		Allied Motion Technologies, Inc		9
3,855		Allison Transmission Holdings, Inc		169
1,249		Altra Holdings, Inc		31
909	*	Ameresco, Inc		13
568	*	American Woodmark Corp		32
8,003		Ametek, Inc		542
1,095		Apogee Enterprises, Inc		33
1,503		Applied Industrial Technologies, Inc		81
15,274		Arconic, Inc		257
1,955	*	Arcosa, Inc		54
555		Argan, Inc		21
822	*	Armstrong Flooring, Inc		10
1,735		Armstrong World Industries, Inc		101
823		Astec Industries, Inc		25
810	*	Astronics Corp		25
1,239	*	Atkore International Group, Inc		25
2,036	*	Axon Enterprise, Inc		89
1,059		AZZ, Inc		43
1,953		Barnes Group, Inc		105
2,363	*	Beacon Roofing Supply, Inc		75

6

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
278	*	Blue Bird Corp	$	5
325	*,e	BlueLinx Holdings, Inc		8
2,534	*	BMC Stock Holdings, Inc		39
19,692		Boeing Co		6,351
1,640		Briggs & Stratton Corp		21
3,625	*	Builders FirstSource, Inc		40
3,398		BWX Technologies, Inc		130
883	e	Caesarstone Sdot-Yam Ltd		12
520	*	CAI International, Inc		12
2,023		Carlisle Cos, Inc		203
21,117		Caterpillar, Inc		2,683
1,264	*	Chart Industries, Inc		82
647	*	CIRCOR International, Inc		14
3,463	*	Colfax Corp		72
840		Columbus McKinnon Corp		25
1,470		Comfort Systems USA, Inc		64
945	*	Commercial Vehicle Group, Inc		5
1,524	*	Continental Building Products Inc		39
1,769		Crane Co		128
554	*	CSW Industrials, Inc		27
1,041		Cubic Corp		56
5,434		Cummins, Inc		726
1,720		Curtiss-Wright Corp		176
11,837		Deere & Co		1,766
535		DMC Global, Inc		19
4,162		Donaldson Co, Inc		181
932		Douglas Dynamics, Inc		33
5,086		Dover Corp		361
485	*	Ducommun, Inc		18
567	*	DXP Enterprises, Inc		16
1,047	*	Dycom Industries, Inc		57
174		Eastern Co		4
15,754		Eaton Corp		1,082
1,960		EMCOR Group, Inc		117
22,588		Emerson Electric Co		1,350
840		Encore Wire Corp		42
648	*,e	Energous Corp		4
1,368	*,e	Energy Recovery, Inc		9
1,701		EnerSys		132
788	*	Engility Holdings, Inc		22
3,169	*,e	Enphase Energy, Inc		15
830		EnPro Industries, Inc		50
995		ESCO Technologies, Inc		66
1,019	*	Esterline Technologies Corp		124
137	e	EVI Industries, Inc		5
2,773	*	Evoqua Water Technologies Corp		27
10,514		Fastenal Co		550
2,292		Federal Signal Corp		46
5,094		Flowserve Corp		194
4,949		Fluor Corp		159
10,608		Fortive Corp		718
5,630		Fortune Brands Home & Security, Inc		214
499	*	Foundation Building Materials, Inc		4
1,724		Franklin Electric Co, Inc		74
635	*	Freightcar America, Inc		4
3,933	*	Gardner Denver Holdings, Inc		80
1,403	*	Gates Industrial Corp plc		19
1,474		GATX Corp		104
277	*	Gencor Industries, Inc		3
2,385	*	Generac Holdings, Inc		119
9,305		General Dynamics Corp		1,463
315,890		General Electric Co		2,391
1,244	*	Gibraltar Industries, Inc		44
870		Global Brass & Copper Holdings, Inc		22

7

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
922	*	GMS, Inc	$	14
678		Gorman-Rupp Co		22
5,750		Graco, Inc		241
1,261		GrafTech International Ltd		14
470		Graham Corp		11
1,755		Granite Construction, Inc		71
2,253	*	Great Lakes Dredge & Dock Corp		15
1,065		Greenbrier Cos, Inc		42
1,120		Griffon Corp		12
1,293		H&E Equipment Services, Inc		26
4,259		Harris Corp		573
3,062	*	Harsco Corp		61
1,580	*,e	HC2 Holdings, Inc		4
6,880	*	HD Supply Holdings, Inc		258
1,220		HEICO Corp		94
2,602		HEICO Corp (Class A)		164
981	*	Herc Holdings, Inc		25
3,102		Hexcel Corp		178
2,415		Hillenbrand, Inc		92
27,147		Honeywell International, Inc		3,587
2,111		Hubbell, Inc		210
1,578		Huntington Ingalls		300
316		Hurco Cos, Inc		11
404		Hyster-Yale Materials Handling, Inc		25
2,662		IDEX Corp		336
298	*	IES Holdings, Inc		5
12,064		Illinois Tool Works, Inc		1,528
8,744		Ingersoll-Rand plc		798
716		Insteel Industries, Inc		17
3,480		ITT, Inc		168
4,430		Jacobs Engineering Group, Inc		259
2,450	*	JELD-WEN Holding, Inc		35
1,200		John Bean Technologies Corp		86
33,059		Johnson Controls International plc		980
433		Kadant, Inc		35
1,040		Kaman Corp		58
5,716		KBR, Inc		87
3,108		Kennametal, Inc		103
1,868	*,e	KEYW Holding Corp, The		12
2,746	*	Kratos Defense & Security Solutions, Inc		39
2,804		L3 Technologies, Inc		487
246	*	Lawson Products, Inc		8
306	*	LB Foster Co (Class A)		5
1,228		Lennox International, Inc		269
1,943		Lincoln Electric Holdings, Inc		153
408		Lindsay Corp		39
8,988		Lockheed Martin Corp		2,353
674	*	Lydall, Inc		14
1,198	*	Manitowoc Co, Inc		18
11,302		Masco Corp		330
798	*	Masonite International Corp		36
2,577	*	Mastec, Inc		104
2,076		Maxar Technologies Ltd		25
1,815	*	Mercury Systems, Inc		86
3,256	*	Meritor, Inc		55
1,823	*	Middleby Corp		187
1,678	*	Milacron Holdings Corp		20
446		Miller Industries, Inc		12
1,239		Moog, Inc (Class A)		96
3,470	*	MRC Global, Inc		42
1,759		MSC Industrial Direct Co (Class A)		135
2,210		Mueller Industries, Inc		52
6,011		Mueller Water Products, Inc (Class A)		55
639	*	MYR Group, Inc		18

8

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
206		National Presto Industries, Inc	$	24
1,911	*	Navistar International Corp		50
1,570	*	NCI Building Systems, Inc		11
962	*,e	Nexeo Solutions, Inc		8
1,020		NN, Inc		7
2,122		Nordson Corp		253
5,879		Northrop Grumman Corp		1,440
371	*	Northwest Pipe Co		9
4,328	*	NOW, Inc		50
291	*	NV5 Holdings, Inc		18
6,241		nVent Electric plc		140
117		Omega Flex, Inc		6
987	*	Orion Marine Group, Inc		4
2,888		Oshkosh Truck Corp		177
3,800		Owens Corning, Inc		167
12,495		PACCAR, Inc		714
4,830		Parker-Hannifin Corp		720
904	*	Patrick Industries, Inc		27
5,547		Pentair plc		210
1,847	*	PGT, Inc		29
7,340	*,e	Plug Power, Inc		9
416		Powell Industries, Inc		10
96		Preformed Line Products Co		5
1,452		Primoris Services Corp		28
1,003	*	Proto Labs, Inc		113
1,340		Quanex Building Products Corp		18
5,705	*	Quanta Services, Inc		172
1,477		Raven Industries, Inc		53
10,497		Raytheon Co		1,610
899	*	RBC Bearings, Inc		118
1,737		Regal-Beloit Corp		122
4,524	*	Resideo Technologies, Inc		93
432	e	REV Group, Inc		3
4,030	*	Rexnord Corp		92
4,465		Rockwell Automation, Inc		672
3,603		Roper Industries, Inc		960
257		Rush Enterprises, Inc		9
1,200		Rush Enterprises, Inc (Class A)		41
6,314	*	Sensata Technologies Holding plc		283
1,581		Simpson Manufacturing Co, Inc		86
1,315	*	SiteOne Landscape Supply, Inc		73
1,987		Snap-On, Inc		289
460	*	Sparton Corp		8
3,874		Spirit Aerosystems Holdings, Inc (Class A)		279
1,707	*	SPX Corp		48
1,563	*	SPX FLOW, Inc		48
472		Standex International Corp		32
5,675		Stanley Works		679
1,004	*	Sterling Construction Co, Inc		11
922		Sun Hydraulics Corp		31
3,212	*	Sunrun, Inc		35
1,233	*	Teledyne Technologies, Inc		255
647		Tennant Co		34
2,533		Terex Corp		70
967	*	Textainer Group Holdings Ltd		10
9,038		Textron, Inc		416
1,276	*	Thermon Group Holdings		26
2,702		Timken Co		101
1,841		Titan International, Inc		9
784	*	Titan Machinery, Inc		10
3,845		Toro Co		215
400	*	TPI Composites, Inc		10
1,748	*	TransDigm Group, Inc		594
2,304	*	Trex Co, Inc		137

9

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,789	*	Trimas Corp	$	49
5,866		Trinity Industries, Inc		121
1,667		Triton International Ltd		52
1,896		Triumph Group, Inc		22
1,399	*	Tutor Perini Corp		22
343	*	Twin Disc, Inc		5
3,013	*	United Rentals, Inc		309
29,199		United Technologies Corp		3,109
4,022	*	Univar, Inc		71
2,325		Universal Forest Products, Inc		60
2,735		USG Corp		117
821		Valmont Industries, Inc		91
455	*	Vectrus, Inc		10
419	*	Veritiv Corp		10
649	*	Vicor Corp		25
876	*,e	Vivint Solar, Inc		3
1,684		W.W. Grainger, Inc		475
2,295		Wabash National Corp		30
1,869	*	WABCO Holdings, Inc		201
3,154	e	Wabtec Corp		222
1,090		Watsco, Inc		152
880		Watts Water Technologies, Inc (Class A)		57
5,066	*	Welbilt, Inc		56
2,328	*	Wesco Aircraft Holdings, Inc		18
1,864	*	WESCO International, Inc		89
67	*	Willis Lease Finance Corp		2
1,151	*	Willscot Corp		11
2,064		Woodward Governor Co		153
6,623		Xylem, Inc		442
		TOTAL CAPITAL GOODS		62,948
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
2,170		ABM Industries, Inc		70
2,247	*	Acacia Research (Acacia Technologies)		7
4,335		ACCO Brands Corp		29
3,263		ADT, Inc		20
2,702	*	Advanced Disposal Services, Inc		65
274		Barrett Business Services, Inc		16
198		BG Staffing, Inc		4
1,868		Brady Corp (Class A)		81
511	*	BrightView Holdings, Inc		5
1,790		Brink’s Co		116
1,375	*	Casella Waste Systems, Inc (Class A)		39
2,160	*	CBIZ, Inc		43
948	*	Ceco Environmental Corp		6
814	*	Cimpress NV		84
3,124		Cintas Corp		525
2,053	*	Clean Harbors, Inc		101
7,339	*	Copart, Inc		351
1,326	*	CoStar Group, Inc		447
4,607		Covanta Holding Corp		62
364		CRA International, Inc		16
1,839		Deluxe Corp		71
1,234		Dun & Bradstreet Corp		176
1,051		Ennis, Inc		20
4,276		Equifax, Inc		398
1,364		Essendant, Inc		17
1,994		Exponent, Inc		101
381		Forrester Research, Inc		17
419	*	Franklin Covey Co		9
1,597	*	FTI Consulting, Inc		106
494	*	GP Strategies Corp		6
2,765	e	Healthcare Services Group		111

10

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
711		Heidrick & Struggles International, Inc	$	22
555	*	Heritage-Crystal Clean, Inc		13
2,222		Herman Miller, Inc		67
1,783		HNI Corp		63
896	*	Huron Consulting Group, Inc		46
707		ICF International, Inc		46
13,867	*	IHS Markit Ltd		665
1,756	*	Innerworkings, Inc		7
1,374		Insperity, Inc		128
2,401		Interface, Inc		34
5,073		KAR Auction Services, Inc		242
1,192		Kelly Services, Inc (Class A)		24
1,045		Kforce, Inc		32
1,392		Kimball International, Inc (Class B)		20
1,970		Knoll, Inc		33
1,994		Korn/Ferry International		79
1,270		LSC Communications, Inc		9
2,161		Manpower, Inc		140
1,217		Matthews International Corp (Class A)		49
919		McGrath RentCorp		47
757	*	Mistras Group, Inc		11
1,705		Mobile Mini, Inc		54
1,290		MSA Safety, Inc		122
514		Multi-Color Corp		18
1,969		Navigant Consulting, Inc		47
12,951		Nielsen NV		302
563	*	NL Industries, Inc		2
1,977	*	On Assignment, Inc		108
7,274		Pitney Bowes, Inc		43
1,198		Quad Graphics, Inc		15
7,950		Republic Services, Inc		573
1,107		Resources Connection, Inc		16
4,381		Robert Half International, Inc		251
5,386		Rollins, Inc		195
2,868		RR Donnelley & Sons Co		11
672	*	SP Plus Corp		20
3,128		Steelcase, Inc (Class A)		46
3,227	*	Stericycle, Inc		118
461		Systemax, Inc		11
1,231	*,e	Team, Inc		18
2,101		Tetra Tech, Inc		109
6,811		TransUnion		387
1,603	*	TriNet Group, Inc		67
1,626	*	TrueBlue, Inc		36
592		Unifirst Corp		85
844		US Ecology, Inc		53
5,683	*	Verisk Analytics, Inc		620
795		Viad Corp		40
340		VSE Corp		10
1,451	*	WageWorks, Inc		39
15,581		Waste Management, Inc		1,387
279	*	Willdan Group, Inc		10
		TOTAL COMMERCIAL & PROFESSIONAL SERVICES		9,709
CONSUMER DURABLES & APPAREL - 1.3%
821		Acushnet Holdings Corp		17
2,238	*	American Outdoor Brands Corp		29
383		Bassett Furniture Industries, Inc		8
1,140	*	Beazer Homes USA, Inc		11
3,230		Brunswick Corp		150
3,598		Callaway Golf Co		55
1,735		Carter’s, Inc		142
237	*	Cavco Industries, Inc		31
707	*	Century Communities, Inc		12

11

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
727		Clarus Corp	$	7
1,106		Columbia Sportswear Co		93
2,849	*	CROCS, Inc		74
447		Culp, Inc		8
1,222	*	Deckers Outdoor Corp		156
12,733		DR Horton, Inc		441
458		Escalade, Inc		5
958		Ethan Allen Interiors, Inc		17
273		Flexsteel Industries, Inc		6
1,713	*	Fossil Group, Inc		27
4,152		Garmin Ltd		263
1,666	*	G-III Apparel Group Ltd		46
4,066	*,e	GoPro, Inc		17
992	*	Green Brick Partners, Inc		7
364		Hamilton Beach Brands Holding Co		9
12,390		Hanesbrands, Inc		155
3,939		Hasbro, Inc		320
1,059	*	Helen of Troy Ltd		139
438		Hooker Furniture Corp		12
4,761	*	Hovnanian Enterprises, Inc (Class A)		3
845	*	Installed Building Products Inc		28
1,024	*,e	iRobot Corp		86
232		Johnson Outdoors, Inc		14
3,347		KB Home		64
1,887		La-Z-Boy, Inc		52
4,915		Leggett & Platt, Inc		176
631		Lennar Corp (B Shares)		20
10,479		Lennar Corp (Class A)		410
624	*,e	LGI Homes, Inc		28
362		Lifetime Brands, Inc		4
3,534	*	Lululemon Athletica, Inc		430
862	*	M/I Homes, Inc		18
776	*	Malibu Boats Inc		27
441		Marine Products Corp		7
673	*	MasterCraft Boat Holdings, Inc		13
12,611	*,e	Mattel, Inc		126
1,662		MDC Holdings, Inc		47
1,156	*	Meritage Homes Corp		42
5,047	*	Michael Kors Holdings Ltd		191
2,360	*	Mohawk Industries, Inc		276
638		Movado Group, Inc		20
182		Nacco Industries, Inc (Class A)		6
1,163	*	Nautilus, Inc		13
556	*	New Home Co Inc		3
16,718		Newell Rubbermaid, Inc		311
45,406		Nike, Inc (Class B)		3,366
117	*	NVR, Inc		285
621		Oxford Industries, Inc		44
2,203		Polaris Industries, Inc		169
8,920		Pulte Homes, Inc		232
2,715		PVH Corp		252
2,037		Ralph Lauren Corp		211
1,594	*	Roku, Inc		49
4,672	*	Skechers U.S.A., Inc (Class A)		107
251		Skyline Corp		4
3,457		Steven Madden Ltd		105
652		Sturm Ruger & Co, Inc		35
295		Superior Uniform Group, Inc		5
10,357		Tapestry, Inc		350
4,313	*	Taylor Morrison Home Corp		69
1,812	*	Tempur Sealy International, Inc		75
5,202		Toll Brothers, Inc		171
1,426	*	TopBuild Corp		64
6,145	*	TRI Pointe Homes, Inc		67

12

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,753		Tupperware Corp	$	55
7,306	*	Under Armour, Inc		118
7,201	*	Under Armour, Inc (Class A)		127
700	*	Unifi, Inc		16
585	*	Universal Electronics, Inc		15
1,001	*	Vera Bradley, Inc		9
11,801		VF Corp		842
2,174	*	Vista Outdoor, Inc		25
2,108		Whirlpool Corp		225
889	*	William Lyon Homes, Inc		10
3,662		Wolverine World Wide, Inc		117
1,093	*	Zagg, Inc		11
		TOTAL CONSUMER DURABLES & APPAREL		11,902
CONSUMER SERVICES - 2.3%
2,413	*	Adtalem Global Education, Inc		114
675	*	American Public Education, Inc		19
8,281		ARAMARK Holdings Corp		240
2,383		BBX Capital Corp		14
3,449	*	Belmond Ltd.		86
3	*	Biglari Holdings, Inc (A Shares)		2
39	*	Biglari Holdings, Inc (B Shares)		5
817		BJ’s Restaurants, Inc		41
3,148		Bloomin’ Brands, Inc		56
641	*	Bojangles’, Inc		10
3,239		Boyd Gaming Corp		67
1,976	*	Bright Horizons Family Solutions		220
1,545	e	Brinker International, Inc		68
22,033	*,e	Caesars Entertainment Corp		150
2,656	*	Career Education Corp		30
14,470		Carnival Corp		713
591		Carriage Services, Inc		9
1,345	*	Carrols Restaurant Group, Inc		13
761	*	Century Casinos, Inc		6
1,753	e	Cheesecake Factory		76
3,925	*	Chegg, Inc		112
894	*	Chipotle Mexican Grill, Inc (Class A)		386
1,319		Choice Hotels International, Inc		95
435		Churchill Downs, Inc		106
751	*	Chuy’s Holdings, Inc		13
521	e	Cracker Barrel Old Country Store, Inc		83
4,390		Darden Restaurants, Inc		438
1,638		Dave & Buster’s Entertainment, Inc		73
1,033	*	Del Frisco’s Restaurant Group, Inc		8
1,227	*	Del Taco Restaurants, Inc		12
2,646	*	Denny’s Corp		43
664		DineEquity, Inc		45
1,538		Domino’s Pizza, Inc		382
2,096	*	Drive Shack, Inc		8
2,930		Dunkin Brands Group, Inc		188
809	*	El Pollo Loco Holdings, Inc		12
2,425	*	Eldorado Resorts, Inc		88
125	*	Empire Resorts, Inc		1
6,386		Extended Stay America, Inc		99
1,005	*	Fiesta Restaurant Group, Inc		16
2,359	*	frontdoor, Inc		63
412	*	Golden Entertainment, Inc		7
115		Graham Holdings Co		74
1,750	*	Grand Canyon Education, Inc		168
6,952		H&R Block, Inc		176
768	*	Habit Restaurants, Inc		8
3,588	*	Hilton Grand Vacations, Inc		95
10,043		Hilton Worldwide Holdings, Inc		721

13

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,089	*	Houghton Mifflin Harcourt Co	$	36
1,688		Hyatt Hotels Corp		114
4,144		International Game Technology plc		61
972		International Speedway Corp (Class A)		43
596	*	J Alexander’s Holdings, Inc		5
1,093		Jack in the Box, Inc		85
1,321	*	K12, Inc		33
13,279		Las Vegas Sands Corp		691
1,409	*	Laureate Education, Inc		22
608	*	Lindblad Expeditions Holdings, Inc		8
10,355		Marriott International, Inc (Class A)		1,124
1,536		Marriott Vacations Worldwide Corp		108
28,149		McDonald’s Corp		4,998
19,049		MGM Resorts International		462
388	*	Monarch Casino & Resort, Inc		15
133		Nathan’s Famous, Inc		9
400	*	Noodles & Co		3
7,918	*	Norwegian Cruise Line Holdings Ltd		336
1,063	e	Papa John’s International, Inc		42
4,241	*	Penn National Gaming, Inc		80
3,264	*	Planet Fitness, Inc		175
322	*	PlayAGS, Inc		8
946	*	Potbelly Corp		8
330		RCI Hospitality Holdings, Inc		7
638	*	Red Lion Hotels Corp		5
500	*	Red Robin Gourmet Burgers, Inc		13
2,623		Red Rock Resorts, Inc		53
1,367	*	Regis Corp		23
6,066		Royal Caribbean Cruises Ltd		593
1,174		Ruth’s Chris Steak House, Inc		27
1,968	*	Scientific Games Corp (Class A)		35
1,710	*	SeaWorld Entertainment, Inc		38
6,513		Service Corp International		262
4,718	*	ServiceMaster Global Holdings, Inc		173
841	*	Shake Shack, Inc		38
2,790		Six Flags Entertainment Corp		155
1,487	*	Sotheby’s (Class A)		59
581		Speedway Motorsports, Inc		10
44,896		Starbucks Corp		2,891
791		Strategic Education Inc		90
2,599		Texas Roadhouse, Inc (Class A)		155
1,434		Vail Resorts, Inc		302
1,421	*	Weight Watchers International, Inc		55
7,240		Wendy’s		113
1,127		Wingstop, Inc		72
3,769		Wyndham Hotels & Resorts, Inc		171
3,769		Wyndham Worldwide Corp		135
3,813		Wynn Resorts Ltd		377
13,720		Yum China Holdings, Inc		460
11,280		Yum! Brands, Inc		1,037
		TOTAL CONSUMER SERVICES		21,274
DIVERSIFIED FINANCIALS - 3.6%
1,964		Affiliated Managers Group, Inc		191
1,028		AG Mortgage Investment Trust		16
18,978		AGNC Investment Corp		333
14,989		Ally Financial, Inc		340
25,718		American Express Co		2,451
5,036		Ameriprise Financial, Inc		526
45,389		Annaly Capital Management, Inc		446
3,633		Anworth Mortgage Asset Corp		15
3,555		Apollo Commercial Real Estate Finance, Inc		59
1,906		Arbor Realty Trust, Inc		19

14

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,014		Ares Commercial Real Estate Corp	$	13
727	e	Arlington Asset Investment Corp (Class A)		5
1,518		ARMOUR Residential REIT, Inc		31
1,731		Artisan Partners Asset Management, Inc		38
269		Associated Capital Group, Inc		10
6,909		AXA Equitable Holdings, Inc		115
382		B. Riley Financial, Inc		5
1,284		Banco Latinoamericano de Exportaciones S.A. (Class E)		22
33,521		Bank of New York Mellon Corp		1,578
8,951		BGC Partners, Inc (Class A)		46
4,508		BlackRock, Inc		1,771
3,698		Blackstone Mortgage Trust, Inc		118
1,604	*	Blucora, Inc		43
2,523	*	Cannae Holdings, Inc		43
17,105		Capital One Financial Corp		1,293
3,681		Capstead Mortgage Corp		25
4,190		CBOE Holdings, Inc		410
43,661		Charles Schwab Corp		1,813
412		Cherry Hill Mortgage Investment Corp		7
5,258		Chimera Investment Corp		94
12,864		CME Group, Inc		2,420
853		Cohen & Steers, Inc		29
3,033		Colony Credit Real Estate, Inc		48
1,050	*	Cowen Group, Inc		14
436	*	Credit Acceptance Corp		166
334	*	Curo Group Holdings Corp		3
118		Diamond Hill Investment Group, Inc		18
12,104		Discover Financial Services		714
1,075	*	Donnelley Financial Solutions, Inc		15
1,860		Dynex Capital, Inc		11
9,915		E*TRADE Financial Corp		435
4,044		Eaton Vance Corp		142
588	*	Elevate Credit, Inc		3
978	*,e	Encore Capital Group, Inc		23
1,226	*	Enova International, Inc		24
1,565		Evercore Partners, Inc (Class A)		112
1,443		Exantas Capital Corp		15
1,988	*	Ezcorp, Inc (Class A)		15
1,406		Factset Research Systems, Inc		281
3,795		Federated Investors, Inc (Class B)		101
5,062	*	FGL Holdings		34
1,853		FirstCash, Inc		134
570	*	Focus Financial Partners, Inc		15
11,857		Franklin Resources, Inc		352
1,532	e	Gain Capital Holdings, Inc		9
181		GAMCO Investors, Inc (Class A)		3
12,840		Goldman Sachs Group, Inc		2,145
1,667		Granite Point Mortgage Trust, Inc		30
416		Great Ajax Corp		5
1,775	*	Green Dot Corp		141
1,124		Greenhill & Co, Inc		27
544		Hamilton Lane, Inc		20
836		Houlihan Lokey, Inc		31
2,624		Interactive Brokers Group, Inc (Class A)		143
20,801		IntercontinentalExchange Group, Inc		1,567
601	*	INTL FCStone, Inc		22
15,288		Invesco Ltd		256
2,531		Invesco Mortgage Capital, Inc		37
1,302		Investment Technology Group, Inc		39
11,485		Jefferies Financial Group, Inc		199
419		KKR Real Estate Finance Trust, Inc		8
2,622		Ladder Capital Corp		41
5,033		Ladenburg Thalmann Financial Services, Inc		12

15

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,392		Lazard Ltd (Class A)	$	162
3,386		Legg Mason, Inc		86
12,454	*	LendingClub Corp		33
3,491		LPL Financial Holdings, Inc		213
1,365		MarketAxess Holdings, Inc		288
418		Marlin Business Services Corp		9
14,764		MFA Mortgage Investments, Inc		99
1,429		Moelis & Co		49
6,110		Moody’s Corp		856
44,773		Morgan Stanley		1,775
745		Morningstar, Inc		82
3,273		MSCI, Inc (Class A)		483
4,411		NASDAQ OMX Group, Inc		360
9,280		Navient Corp		82
763		Nelnet, Inc (Class A)		40
13,650		New Residential Investment Corp		194
4,058		New York Mortgage Trust, Inc		24
959	*	NewStar Financial, Inc		0	^
7,418		Northern Trust Corp		620
2,164		OM Asset Management plc		23
2,011	*	On Deck Capital, Inc		12
2,827	*	OneMain Holdings, Inc		69
448		Oppenheimer Holdings, Inc		11
1,276	e	Orchid Island Capital, Inc		8
2,603		PennyMac Mortgage Investment Trust		49
896	*	Pico Holdings, Inc		8
553		Piper Jaffray Cos		36
727		PJT Partners, Inc		28
1,801	*	PRA Group, Inc		44
527		Pzena Investment Management, Inc (Class A)		5
4,885		Raymond James Financial, Inc		364
607		Ready Capital Corp		8
2,957		Redwood Trust, Inc		45
383	*	Regional Management Corp		9
9,116		S&P Global, Inc		1,549
808	*	Safeguard Scientifics, Inc		7
4,273		Santander Consumer USA Holdings, Inc		75
4,960		SEI Investments Co		229
298		Silvercrest Asset Management Group, Inc		4
16,893	*	SLM Corp		140
13,446		State Street Corp		848
2,581		Stifel Financial Corp		107
27,004		Synchrony Financial		634
8,529		T Rowe Price Group, Inc		787
10,451		TD Ameritrade Holding Corp		512
427		TPG RE Finance Trust, Inc		8
7,131		Two Harbors Investment Corp		92
1,024		Virtu Financial, Inc		26
255		Virtus Investment Partners, Inc		20
5,623		Voya Financial, Inc		226
3,248	e	Waddell & Reed Financial, Inc (Class A)		59
1,589		Western Asset Mortgage Capital Corp		13
322		Westwood Holdings Group, Inc		11
4,611		WisdomTree Investments, Inc		31
229	*	World Acceptance Corp		23
		TOTAL DIVERSIFIED FINANCIALS		33,310
ENERGY - 4.9%
5,830	*	Abraxas Petroleum Corp		6
99		Adams Resources & Energy, Inc		4
3,466	*,e	Alta Mesa Resources, Inc		3
19,112		Anadarko Petroleum Corp		838
7,333	*	Antero Resources Corp		69

16

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
14,158		Apache Corp	$	372
2,927	*	Apergy Corp		79
1,515	*,e	Approach Resources, Inc		1
550		Arch Coal, Inc		46
4,687		Archrock, Inc		35
985	*	Ardmore Shipping Corp		5
18,455		Baker Hughes a GE Co		397
661	*	Basic Energy Services, Inc		3
784	*	Bonanza Creek Energy, Inc		16
1,469	*,e	Bristow Group, Inc		4
1,777	*	C&J Energy Services, Inc		24
15,262		Cabot Oil & Gas Corp		341
812	*	Cactus, Inc		22
1,677	*	California Resources Corp		29
7,833	*	Callon Petroleum Co		51
905	*,e	CARBO Ceramics, Inc		3
2,286	*	Carrizo Oil & Gas, Inc		26
6,772	*	Centennial Resource Development, Inc		75
8,023	*	Cheniere Energy, Inc		475
32,228	*,e	Chesapeake Energy Corp		68
69,106		Chevron Corp		7,518
3,210		Cimarex Energy Co		198
5,167	*	Clean Energy Fuels Corp		9
8,770	*	CNX Resources Corp		100
7,124	*	Concho Resources, Inc		732
42,621		ConocoPhillips		2,657
1,096	*	CONSOL Energy, Inc		35
3,475	*	Continental Resources, Inc		140
1,185	*	Covia Holdings Corp		4
612		CVR Energy, Inc		21
3,058		Delek US Holdings, Inc		99
15,050	*	Denbury Resources, Inc		26
19,371		Devon Energy Corp		437
2,870		DHT Holdings, Inc		11
2,618	*	Diamond Offshore Drilling, Inc		25
5,793		Diamondback Energy, Inc		537
1,163	*	Dorian LPG Ltd		7
1,470	*	Dril-Quip, Inc		44
384	*	Earthstone Energy, Inc		2
3,296	*,e	Eclipse Resources Corp		3
2,812	*,e	Energy Fuels, Inc		8
21,038		EOG Resources, Inc		1,835
1,448	*,e	EP Energy Corp		1
9,818		EQT Corp		185
7,854	*	Equitrans Midstream Corp		157
891	*	Era Group, Inc		8
668		Evolution Petroleum Corp		5
1,256	*	Exterran Corp		22
4,719	*	Extraction Oil & Gas, Inc		20
153,814		Exxon Mobil Corp		10,489
2,612	*	Forum Energy Technologies, Inc		11
1,937	*	Frank’s International NV		10
2,830	*,e	Frontline Ltd		16
744	*	FTS International, Inc		5
1,757		GasLog Ltd		29
3,789		Golar LNG Ltd		82
1,490		Green Plains Renewable Energy, Inc		20
6,440	*	Gulfport Energy Corp		42
4,058	*,e	Halcon Resources Corp		7
557		Hallador Energy Co		3
31,721		Halliburton Co		843
5,378	*	Helix Energy Solutions Group, Inc		29
3,775		Helmerich & Payne, Inc		181
9,840		Hess Corp		398

17

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,221	*	HighPoint Resources Corp	$	6
5,996		HollyFrontier Corp		306
1,312	*	Independence Contract Drilling, Inc		4
1,110	*	International Seaways, Inc		19
388	*	ION Geophysical Corp		2
30	*	Isramco, Inc		4
1,195	*,e	Jagged Peak Energy, Inc		11
1,187	*	Keane Group, Inc		10
384	*	Key Energy Services, Inc		1
69,464		Kinder Morgan, Inc		1,068
641	*	KLX Energy Services Holdings, Inc		15
7,503	*	Kosmos Energy Ltd		31
6,373	*	Laredo Petroleum Holdings, Inc		23
394	e	Liberty Oilfield Services, Inc		5
1,582	*	Lilis Energy, Inc		2
275		Mammoth Energy Services, Inc		5
31,474		Marathon Oil Corp		451
24,405		Marathon Petroleum Corp		1,440
3,403	*	Matador Resources Co		53
1,193	*	Matrix Service Co		21
6,808	*	McDermott International, Inc		44
377	*	Midstates Petroleum Co, Inc		3
6,404		Murphy Oil Corp		150
11,900		Nabors Industries Ltd		24
14,486		National Oilwell Varco, Inc		372
561	*	Natural Gas Services Group, Inc		9
410	*	NCS Multistage Holdings, Inc		2
6,721	*	Newfield Exploration Co		98
3,366	*	Newpark Resources, Inc		23
250	*	Nine Energy Service, Inc		6
9,079	*	Noble Corp plc		24
17,812		Noble Energy, Inc		334
3,925	e	Nordic American Tanker Shipping		8
3,920	*	Northern Oil And Gas, Inc		9
9,279	*	Oasis Petroleum, Inc		51
27,738		Occidental Petroleum Corp		1,703
3,828	*	Oceaneering International, Inc		46
2,073	*	Oil States International, Inc		30
15,197		Oneok, Inc		820
836	*	Overseas Shipholding Group, Inc		1
648		Panhandle Oil and Gas, Inc (Class A)		10
1,291	*	Par Pacific Holdings, Inc		18
9,019	*	Parsley Energy, Inc		144
8,122		Patterson-UTI Energy, Inc		84
4,259		PBF Energy, Inc		139
2,579	*	PDC Energy, Inc		77
2,971		Peabody Energy Corp		91
544	*	Penn Virginia Corp		29
620	*,e	PHI, Inc		1
15,329		Phillips 66		1,321
2,571	*	Pioneer Energy Services Corp		3
6,184		Pioneer Natural Resources Co		813
2,609	*	ProPetro Holding Corp		32
9,406	*	Questar Market Resources, Inc		53
7,038		Range Resources Corp		67
1,467	*	Renewable Energy Group, Inc		38
838	*,e	Resolute Energy Corp		24
234	*	Rex American Resources Corp		16
611	*	RigNet, Inc		8
1,749	*	Ring Energy, Inc		9
4,518	*,e	Rowan Cos plc		38
2,256	e	RPC, Inc		22
1,269	*	SandRidge Energy, Inc		10
50,386		Schlumberger Ltd		1,818

18

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
6,794		Scorpio Tankers, Inc	$	12
617	*	SEACOR Holdings, Inc		23
629	*	SEACOR Marine Holdings, Inc		7
351	*	Select Energy Services, Inc		2
2,570		SemGroup Corp		35
2,365		Ship Finance International Ltd		25
253	*	SilverBow Resources, Inc		6
4,345		SM Energy Co		67
801	*,e	Smart Sand, Inc		2
369	e	Solaris Oilfield Infrastructure, Inc		4
19,699	*	Southwestern Energy Co		67
7,633	*	SRC Energy, Inc		36
5,923	*	Superior Energy Services		20
749	*	Talos Energy, Inc		12
7,616		Targa Resources Investments, Inc		274
2,010	e	Teekay Corp		7
3,273		Teekay Tankers Ltd (Class A)		3
2,116	*,e	Tellurian, Inc		15
3,896	*	Tetra Technologies, Inc		7
878	*	Tidewater, Inc		17
18,539	*	Transocean Ltd (NYSE)		129
1,986	*	Unit Corp		28
5,127	*,e	Uranium Energy Corp		6
3,143	e	US Silica Holdings Inc		32
15,720		Valero Energy Corp		1,178
3,587	*	W&T Offshore, Inc		15
3,512	*	Whiting Petroleum Corp		80
705	*	WildHorse Resource Development Corp		10
44,651		Williams Cos, Inc		985
2,651		World Fuel Services Corp		57
15,377	*	WPX Energy, Inc		174
		TOTAL ENERGY		45,437
FOOD & STAPLES RETAILING - 1.4%
1,108		Andersons, Inc		33
1,203		Casey’s General Stores, Inc		154
776	*	Chefs’ Warehouse Holdings, Inc		25
15,984		Costco Wholesale Corp		3,256
555		Ingles Markets, Inc (Class A)		15
29,322		Kroger Co		806
345	*	Natural Grocers by Vitamin C		5
3,740	*	Performance Food Group Co		121
820		Pricesmart, Inc		49
34,626	*,e	Rite Aid Corp		25
1,024	*	Smart & Final Stores, Inc		5
957		Spartan Stores, Inc		16
4,309	*	Sprouts Farmers Market, Inc		101
17,221		Sysco Corp		1,079
2,032	*	United Natural Foods, Inc		22
7,566	*	US Foods Holding Corp		239
292		Village Super Market (Class A)		8
30,262		Walgreens Boots Alliance, Inc		2,068
51,930		Walmart, Inc		4,837
313		Weis Markets, Inc		15
		TOTAL FOOD & STAPLES RETAILING		12,879
FOOD, BEVERAGE & TOBACCO - 3.6%
4,215	*,e	22nd Century Group, Inc		11
135		Alico, Inc		4
69,242		Altria Group, Inc		3,420
20,341		Archer Daniels Midland Co		833
2,508	e	B&G Foods, Inc (Class A)		73
344	*	Boston Beer Co, Inc (Class A)		83

19

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,865		Brown-Forman Corp	$	88
10,467		Brown-Forman Corp (Class B)		498
4,825		Bunge Ltd		258
583		Calavo Growers, Inc		43
1,263		Cal-Maine Foods, Inc		53
6,056		Campbell Soup Co		200
3,333	*,e	Castle Brands, Inc		3
185		Coca-Cola Bottling Co Consolidated		33
139,812		Coca-Cola Co		6,620
16,363		ConAgra Brands, Inc		350
5,685		Constellation Brands, Inc (Class A)		914
418	*	Craft Brewers Alliance, Inc		6
6,364	*	Darling International, Inc		122
3,513		Dean Foods Co		13
288	*	Farmer Bros Co		7
6,808		Flowers Foods, Inc		126
1,315		Fresh Del Monte Produce, Inc		37
901	*	Freshpet, Inc		29
21,591		General Mills, Inc		841
3,970	*	Hain Celestial Group, Inc		63
5,112		Hershey Co		548
10,106		Hormel Foods Corp		431
3,112	*	Hostess Brands, Inc		34
2,632		Ingredion, Inc		241
585		J&J Snack Foods Corp		85
4,037		J.M. Smucker Co		377
368		John B. Sanfilippo & Son, Inc		21
8,945		Kellogg Co		510
5,267		Keurig Dr Pepper, Inc		135
22,359		Kraft Heinz Co		962
5,006		Lamb Weston Holdings, Inc		368
621		Lancaster Colony Corp		110
1,056	*	Landec Corp		13
443		Limoneira Co		9
4,446		McCormick & Co, Inc		619
476		MGP Ingredients, Inc		27
6,197		Molson Coors Brewing Co (Class B)		348
52,337		Mondelez International, Inc		2,095
14,610	*	Monster Beverage Corp		719
457	*	National Beverage Corp		33
51,496		PepsiCo, Inc		5,689
56,476		Philip Morris International, Inc		3,770
2,078	*	Pilgrim’s Pride Corp		32
2,539	*	Post Holdings, Inc		226
845	*	Primo Water Corp		12
787		Sanderson Farms, Inc		78
10		Seaboard Corp		35
365	*	Seneca Foods Corp		10
2,221	*	Simply Good Foods Co		42
326	e	Tootsie Roll Industries, Inc		11
2,158	*	TreeHouse Foods, Inc		109
183		Turning Point Brands, Inc		5
10,319		Tyson Foods, Inc (Class A)		551
917		Universal Corp		50
3,235		Vector Group Ltd		31
		TOTAL FOOD, BEVERAGE & TOBACCO		33,064
HEALTH CARE EQUIPMENT & SERVICES - 6.4%
62,561		Abbott Laboratories		4,525
1,565	*	Abiomed, Inc		509
3,023	*	Acadia Healthcare Co, Inc		78
3,073	*	Accuray, Inc		11
255	*	Addus HomeCare Corp		17
2,916	*	Align Technology, Inc		611

20

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
7,075	*	Allscripts Healthcare Solutions, Inc	$	68
1,099	*	Amedisys, Inc		129
368	*	American Renal Associates Holdings, Inc		4
5,940		AmerisourceBergen Corp		442
1,811	*	AMN Healthcare Services, Inc		103
1,310	*	Angiodynamics, Inc		26
566	*	Anika Therapeutics, Inc		19
5,621	*	Antares Pharma, Inc		15
9,474		Anthem, Inc		2,488
912	*,e	Apollo Medical Holdings, Inc		18
1,482	*	athenahealth, Inc		196
1,229	*	AtriCure, Inc		38
55		Atrion Corp		41
1,812	*	Avanos Medical, Inc		81
1,009	*	AxoGen, Inc		21
18,141		Baxter International, Inc		1,194
9,540		Becton Dickinson & Co		2,150
4,529	*	BioScrip, Inc		16
1,148	*	BioTelemetry, Inc		69
50,281	*	Boston Scientific Corp		1,777
7,134	*	Brookdale Senior Living, Inc		48
1,418		Cantel Medical Corp		106
1,019	*	Capital Senior Living Corp		7
11,679		Cardinal Health, Inc		521
1,207	*	Cardiovascular Systems, Inc		34
2,441	*	Castlight Health, Inc		5
7,303	*	Centene Corp		842
11,275	*	Cerner Corp		591
4,212	*	Cerus Corp		21
611		Chemed Corp		173
13,538		Cigna Corp		2,571
504	*	Civitas Solutions, Inc		9
481		Computer Programs & Systems, Inc		12
1,071		Conmed Corp		69
1,710		Cooper Cos, Inc		435
368	*	Corvel Corp		23
1,273	*	Cross Country Healthcare, Inc		9
1,250	*	CryoLife, Inc		35
917	*,e	CryoPort, Inc		10
593	*	Cutera, Inc		10
46,540		CVS Health Corp		3,049
1,039	*,e	CytoSorbents Corp		8
22,875		Danaher Corp		2,359
4,837	*	DaVita, Inc		249
8,598		Dentsply Sirona, Inc		320
3,340	*	DexCom, Inc		400
1,886	*	Diplomat Pharmacy, Inc		25
7,699	*	Edwards Lifesciences Corp		1,179
3,477		Encompass Health Corp		215
1,885		Ensign Group, Inc		73
2,484	*	Evolent Health, Inc		50
229	*	FONAR Corp		5
1,393	*	Genesis Health Care, Inc		2
1,865	*	GenMark Diagnostics, Inc		9
1,112	*	Glaukos Corp		62
2,762	*	Globus Medical, Inc		120
237	*	Guardant Health, Inc		9
2,039	*	Haemonetics Corp		204
9,993		HCA Holdings, Inc		1,244
1,932	*	HealthEquity, Inc		115
1,071		HealthStream, Inc		26
868	*,e	Helius Medical Technologies, Inc		8
5,686	*	Henry Schein, Inc		446
236	*	Heska Corp		20

21

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,532		Hill-Rom Holdings, Inc	$	224
3,262	*	HMS Holdings Corp		92
9,576	*	Hologic, Inc		394
5,032		Humana, Inc		1,442
588	*	ICU Medical, Inc		135
3,173	*	IDEXX Laboratories, Inc		590
672	*	Inogen Inc		83
2,425	*,e	Inovalon Holdings, Inc		34
279	*	Inspire Medical Systems, Inc		12
2,272	*	Insulet Corp		180
935	*	Integer Holding Corp		71
2,413	*	Integra LifeSciences Holdings Corp		109
222	*	IntriCon Corp		6
4,116	*	Intuitive Surgical, Inc		1,971
1,260		Invacare Corp		5
878	*	iRhythm Technologies, Inc		61
3,540	*	Laboratory Corp of America Holdings		447
982	*	Lantheus Holdings, Inc		15
562		LeMaitre Vascular, Inc		13
1,045	*	LHC Group, Inc		98
1,646	*	LivaNova plc		151
735	*	Magellan Health Services, Inc		42
1,746	*	Masimo Corp		187
7,372		McKesson Corp		814
2,192	*	Medidata Solutions, Inc		148
3,431	*	MEDNAX, Inc		113
49,002		Medtronic plc		4,457
1,637		Meridian Bioscience, Inc		28
1,836	*	Merit Medical Systems, Inc		102
2,279	*	Molina Healthcare, Inc		265
685	*,e	NantHealth, Inc		0	^
212		National Healthcare Corp		17
357		National Research Corp		14
1,257	*	Natus Medical, Inc		43
1,932	*	Neogen Corp		110
1,074	*	Nevro Corp		42
1,960	*	NextGen Healthcare, Inc		30
2,085	*	Novocure Ltd		70
1,937	*	NuVasive, Inc		96
511	*	Nuvectra Corp		8
2,539	*	NxStage Medical, Inc		73
1,384	*	Omnicell, Inc		85
2,181	*	OraSure Technologies, Inc		25
679	*	Orthofix International NV		36
225	*	OrthoPediatrics Corp		8
2,343		Owens & Minor, Inc		15
919	*	Oxford Immunotec Global plc		12
3,229		Patterson Cos, Inc		64
1,140	*	Penumbra, Inc		139
275	*,e	PetIQ, Inc		6
1,594	*	Premier, Inc		60
495	*	Providence Service Corp		30
356	e	Pulse Biosciences, Inc		4
4,917		Quest Diagnostics, Inc		409
1,084	*	Quidel Corp		53
3,887	*	R1 RCM, Inc		31
1,510	*	RadNet, Inc		15
5,009		Resmed, Inc		570
1,891	*,e	Rockwell Medical, Inc		4
2,673	*	RTI Biologics, Inc		10
640	*	SeaSpine Holdings Corp		12
4,065	*	Select Medical Holdings Corp		62
2,436	*,e	Senseonics Holdings, Inc		6
278	*	SI-BONE, Inc		6

22

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
549	*	Sientra, Inc	$	7
414		Simulations Plus, Inc		8
1,741	*	Staar Surgical Co		56
2,985		STERIS Plc		319
12,342		Stryker Corp		1,935
643	*	Surgery Partners, Inc		6
516	*	SurModics, Inc		24
350	*	Tabula Rasa HealthCare, Inc		22
357	*	Tactile Systems Technology, Inc		16
1,644	*	Tandem Diabetes Care, Inc		62
2,089	*	Teladoc, Inc		104
1,689		Teleflex, Inc		437
3,172	*	Tenet Healthcare Corp		54
1,422	*	Tivity Health, Inc		35
5,738	*,e	TransEnterix, Inc		13
948	*	Triple-S Management Corp (Class B)		17
34,974		UnitedHealth Group, Inc		8,713
3,028		Universal Health Services, Inc (Class B)		353
468		US Physical Therapy, Inc		48
149		Utah Medical Products, Inc		12
1,492	*	Varex Imaging Corp		35
3,205	*	Varian Medical Systems, Inc		363
4,450	*	Veeva Systems, Inc		397
1,068	*,e	ViewRay, Inc		7
1,082	*	Vocera Communications, Inc		43
1,792	*	WellCare Health Plans, Inc		423
2,710		West Pharmaceutical Services, Inc		266
4,098	*	Wright Medical Group NV		112
7,276		Zimmer Biomet Holdings, Inc		755
		TOTAL HEALTH CARE EQUIPMENT & SERVICES		59,470
HOUSEHOLD & PERSONAL PRODUCTS - 1.6%
400	*	Central Garden & Pet Co		14
1,366	*	Central Garden and Pet Co (Class A)		43
9,043		Church & Dwight Co, Inc		595
4,666		Clorox Co		719
30,701		Colgate-Palmolive Co		1,827
17,354		Coty, Inc		114
2,241	*	Edgewell Personal Care Co		84
812	*,e	elf Beauty, Inc		7
2,362		Energizer Holdings, Inc		107
7,945		Estee Lauder Cos (Class A)		1,034
3,725	*	Herbalife Ltd		219
735		Inter Parfums, Inc		48
12,752		Kimberly-Clark Corp		1,453
385		Medifast, Inc		48
325	e	Natural Health Trends Corp		6
537	*	Nature’s Sunshine Products, Inc		4
2,034		Nu Skin Enterprises, Inc (Class A)		125
255		Oil-Dri Corp of America		7
90,740		Procter & Gamble Co		8,341
480	*	Revlon, Inc (Class A)		12
1,707		Spectrum Brands Holdings, Inc		72
426	*	USANA Health Sciences, Inc		50
538		WD-40 Co		98
		TOTAL HOUSEHOLD & PERSONAL PRODUCTS		15,027
INSURANCE - 4.2%
27,705		Aflac, Inc		1,262
528		Alleghany Corp		329
12,361		Allstate Corp		1,021
1,747	*	AMBAC Financial Group, Inc		30
3,330		American Equity Investment Life Holding Co		93

23

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,665		American Financial Group, Inc	$	241
32,432		American International Group, Inc		1,278
284		American National Insurance Co		36
751		Amerisafe, Inc		43
8,766		Aon plc		1,274
13,267	*	Arch Capital Group Ltd		355
1,294		Argo Group International Holdings Ltd		87
6,208		Arthur J. Gallagher & Co		458
2,327		Aspen Insurance Holdings Ltd		98
1,799		Assurant, Inc		161
4,096		Assured Guaranty Ltd		157
5,275	*	Athene Holding Ltd		210
2,754		Axis Capital Holdings Ltd		142
70,240	*	Berkshire Hathaway, Inc (Class B)		14,342
3,589	*	Brighthouse Financial, Inc		109
7,851		Brown & Brown, Inc		216
16,728		Chubb Ltd		2,161
5,815		Cincinnati Financial Corp		450
2,162	*,e	Citizens, Inc (Class A)		16
758		CNA Financial Corp		33
6,647		Conseco, Inc		99
723		Crawford & Co (Class B)		7
406		Donegal Group, Inc (Class A)		6
746	*	eHealth, Inc		29
252		EMC Insurance Group, Inc		8
1,239		Employers Holdings, Inc		52
437	*	Enstar Group Ltd		73
983		Erie Indemnity Co (Class A)		131
1,459		Everest Re Group Ltd		318
371		FBL Financial Group, Inc (Class A)		24
485		FedNat Holding Co		10
3,673		First American Financial Corp		164
9,345		FNF Group		294
19,503	*	Genworth Financial, Inc (Class A)		91
328		Global Indemnity Ltd		12
345	*,e	Goosehead Insurance, Inc		9
621	*	Greenlight Capital Re Ltd (Class A)		5
368	*	Hallmark Financial Services		4
1,661		Hanover Insurance Group, Inc		194
12,715		Hartford Financial Services Group, Inc		565
290		HCI Group, Inc		15
443	*,e	Health Insurance Innovations, Inc		12
1,074	e	Heritage Insurance Holdings, Inc		16
1,591		Horace Mann Educators Corp		60
345		Independence Holding Co		12
62		Investors Title Co		11
646		James River Group Holdings Ltd		24
2,010		Kemper Corp		133
379		Kingstone Cos, Inc		7
566		Kinsale Capital Group, Inc		31
7,858		Lincoln National Corp		403
9,976		Loews Corp		454
2,565		Maiden Holdings Ltd		4
519	*	Markel Corp		539
18,445		Marsh & McLennan Cos, Inc		1,471
4,904	*	MBIA, Inc		44
1,072		Mercury General Corp		55
30,691		Metlife, Inc		1,260
1,991		National General Holdings Corp		48
92		National Western Life Group, Inc		28
808		Navigators Group, Inc		56
394	*	NI Holdings, Inc		6
10,495		Old Republic International Corp		216
1,513		Primerica, Inc		148

24

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
10,497		Principal Financial Group	$	464
1,956		ProAssurance Corp		79
20,682		Progressive Corp		1,248
422		Protective Insurance Corp		7
15,284		Prudential Financial, Inc		1,246
2,347		Reinsurance Group of America, Inc (Class A)		329
1,586		RenaissanceRe Holdings Ltd		212
1,544		RLI Corp		107
591		Safety Insurance Group, Inc		48
2,223		Selective Insurance Group, Inc		135
630		State Auto Financial Corp		21
815		Stewart Information Services Corp		34
2,745	*	Third Point Reinsurance Ltd		26
1,255		Tiptree Financial, Inc		7
3,929		Torchmark Corp		293
9,646		Travelers Cos, Inc		1,155
855	*,e	Trupanion, Inc		22
844		United Fire & Casualty Co		47
739		United Insurance Holdings Corp		12
1,340		Universal Insurance Holdings, Inc		51
7,450		UnumProvident Corp		219
3,567		W.R. Berkley Corp		264
124		White Mountains Insurance Group Ltd		106
4,692		Willis Towers Watson plc		713
		TOTAL INSURANCE		38,595
MATERIALS - 3.0%
1,126	*	A Schulman, Inc		2
788	e	Advanced Emissions Solutions, Inc		8
1,237	*	AdvanSix, Inc		30
801	*,e	AgroFresh Solutions, Inc		3
7,942		Air Products & Chemicals, Inc		1,271
12,220	*,e	AK Steel Holding Corp		27
3,894		Albemarle Corp		300
6,581	*	Alcoa Corp		175
4,202	*	Allegheny Technologies, Inc		91
1,143		American Vanguard Corp		17
1,996		Aptargroup, Inc		188
716		Ardagh Group S.A.		8
2,222		Ashland Global Holdings, Inc		158
3,291		Avery Dennison Corp		296
8,232	*	Axalta Coating Systems Ltd		193
1,227		Balchem Corp		96
12,330		Ball Corp		567
3,338		Bemis Co, Inc		153
4,805	*	Berry Plastics Group, Inc		228
1,581		Boise Cascade Co		38
2,347		Cabot Corp		101
1,812		Carpenter Technology Corp		64
4,776		Celanese Corp (Series A)		430
1,952	*	Century Aluminum Co		14
8,475		CF Industries Holdings, Inc		369
284		Chase Corp		28
6,233		Chemours Co		176
623	*	Clearwater Paper Corp		15
9,437	*	Cleveland-Cliffs, Inc		73
6,825	*	Coeur Mining, Inc		30
4,501		Commercial Metals Co		72
1,251		Compass Minerals International, Inc		52
4,304	*	Crown Holdings, Inc		179
2,440		Domtar Corp		86
84,317		DowDuPont, Inc		4,510
1,609		Eagle Materials, Inc		98

25

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
5,222		Eastman Chemical Co	$	382
9,324		Ecolab, Inc		1,374
3,191	*	Ferro Corp		50
2,943	*	Ferroglobe plc		0
2,151	*	Flotek Industries, Inc		2
4,704		FMC Corp		348
657	*,e	Forterra, Inc		2
51,409		Freeport-McMoRan Copper & Gold, Inc (Class B)		530
954		FutureFuel Corp		15
2,797	*	GCP Applied Technologies, Inc		69
2,189		Gold Resource Corp		9
12,219		Graphic Packaging Holding Co		130
203		Greif, Inc		9
985		Greif, Inc (Class A)		37
1,961		H.B. Fuller Co		84
377		Hawkins, Inc		15
501		Haynes International, Inc		13
17,634		Hecla Mining Co		42
8,070		Huntsman Corp		156
1,659	*	Ingevity Corp		139
803		Innophos Holdings, Inc		20
974		Innospec, Inc		60
3,254		International Flavors & Fragrances, Inc		437
14,799		International Paper Co		597
3,628	*	Intrepid Potash, Inc		9
656		Kaiser Aluminum Corp		59
850	*	Koppers Holdings, Inc		14
1,207	*	Kraton Polymers LLC		26
893		Kronos Worldwide, Inc		10
20,433		Linde plc		3,188
5,593		Louisiana-Pacific Corp		124
901	*	LSB Industries, Inc		5
11,638		LyondellBasell Industries AF S.C.A		968
2,142		Martin Marietta Materials, Inc		368
774		Materion Corp		35
1,370		Minerals Technologies, Inc		70
12,629		Mosaic Co		369
871		Myers Industries, Inc		13
642		Neenah Paper, Inc		38
278		NewMarket Corp		115
19,350		Newmont Mining Corp		670
11,287		Nucor Corp		585
6,399		Olin Corp		129
395		Olympic Steel, Inc		6
1,779	*	Omnova Solutions, Inc		13
5,702	*	Owens-Illinois, Inc		98
3,472		Packaging Corp of America		290
1,827		PH Glatfelter Co		18
8,571	*	Platform Specialty Products Corp		89
3,172		PolyOne Corp		91
8,959		PPG Industries, Inc		916
890	*	PQ Group Holdings, Inc		13
510		Quaker Chemical Corp		91
1,744		Rayonier Advanced Materials, Inc		19
2,559		Reliance Steel & Aluminum Co		182
2,154		Royal Gold, Inc		184
4,842		RPM International, Inc		285
592	*	Ryerson Holding Corp		4
1,051		Schnitzer Steel Industries, Inc (Class A)		23
1,182		Schweitzer-Mauduit International, Inc		30
1,569		Scotts Miracle-Gro Co (Class A)		96
5,961		Sealed Air Corp		208
1,576		Sensient Technologies Corp		88
3,020		Sherwin-Williams Co		1,188

26

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,434		Silgan Holdings, Inc	$	57
3,576		Sonoco Products Co		190
3,201		Southern Copper Corp (NY)		98
8,549		Steel Dynamics, Inc		257
775		Stepan Co		57
4,288	*	Summit Materials, Inc		53
2,524	*	SunCoke Energy, Inc		22
11,807	*	Tahoe Resources, Inc		43
1,535	*	TimkenSteel Corp		13
970	*	Trecora Resources		8
1,164		Tredegar Corp		18
1,292		Trinseo S.A.		59
2,505		Tronox Ltd		19
226	*	UFP Technologies, Inc		7
66		United States Lime & Minerals, Inc		5
6,801		United States Steel Corp		124
577	*	US Concrete, Inc		20
882		Valhi, Inc		2
7,329		Valvoline, Inc		142
1,233	*	Verso Corp		28
5,018		Vulcan Materials Co		496
565		Warrior Met Coal, Inc		14
1,396		Westlake Chemical Corp		92
10,649		WestRock Co		402
1,742		Worthington Industries, Inc		61
2,489		WR Grace and Co		162
		TOTAL MATERIALS		27,842
MEDIA & ENTERTAINMENT - 7.1%
27,532		Activision Blizzard, Inc		1,282
10,897	*	Alphabet, Inc (Class A)		11,387
11,105	*	Alphabet, Inc (Class C)		11,500
2,111		AMC Entertainment Holdings, Inc		26
1,592	*	AMC Networks, Inc		87
184		Cable One, Inc		151
534	*	Care.com, Inc		10
1,803	*	Cargurus, Inc		61
2,801	*	Cars.com, Inc		60
11,655		CBS Corp (Class B)		509
3,461	*	Central European Media Enterprises Ltd (Class A) (NASDAQ)		10
6,431	*	Charter Communications, Inc		1,833
4,142		Cinemark Holdings, Inc		148
1,723		Clear Channel Outdoor Holdings, Inc (Class A)		9
166,233		Comcast Corp (Class A)		5,660
46	*	Daily Journal Corp		11
5,957	*	Discovery, Inc (Class A)		147
12,786	*	Discovery, Inc (Class C)		295
8,615	*	DISH Network Corp (Class A)		215
11,045	*	Electronic Arts, Inc		872
568		Emerald Expositions Events, Inc		7
4,712		Entercom Communications Corp (Class A)		27
2,637		Entravision Communications Corp (Class A)		8
798	*,e	Eros International plc		7
2,274		EW Scripps Co (Class A)		36
86,884	*	Facebook, Inc		11,390
586	*	Fluent, Inc		2
4,415		Gannett Co, Inc		38
3,746	*	GCI Liberty, Inc		154
1,203	*	Glu Mobile, Inc		10
2,680	*	Gray Television, Inc		39
408	*	Hemisphere Media Group, Inc		5
2,708	*	IAC/InterActiveCorp		496
2,264	*	Imax Corp		43
13,511		Interpublic Group of Cos, Inc		279

27

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,634		John Wiley & Sons, Inc (Class A)	$	77
428	*	Liberty Braves Group (Class A)		11
1,434	*	Liberty Braves Group (Class C)		36
977	*	Liberty Broadband Corp (Class A)		70
3,671	*	Liberty Broadband Corp (Class C)		264
4,170	*	Liberty Latin America Ltd		61
1,581	*	Liberty Latin America Ltd (Class A)		23
998	*	Liberty Media Group (Class A)		30
7,316	*	Liberty Media Group (Class C)		225
2,847	*	Liberty SiriusXM Group (Class A)		105
5,784	*	Liberty SiriusXM Group (Class C)		214
3,006	*	Liberty TripAdvisor Holdings, Inc		48
2,000	e	Lions Gate Entertainment Corp (Class A)		32
3,835	e	Lions Gate Entertainment Corp (Class B)		57
5,305	*	Live Nation, Inc		261
1,013	*,e	LiveXLive Media, Inc		5
190	*	Loral Space & Communications, Inc		7
729	*	Madison Square Garden Co		195
736		Marcus Corp		29
1,918	e	Match Group, Inc		82
2,109	*	MDC Partners, Inc		5
2,453	*	Meet Group, Inc		11
1,545	e	Meredith Corp		80
2,361	*	MSG Networks, Inc		56
2,714		National CineMedia, Inc		18
15,163	*	NetFlix, Inc		4,058
1,956		New Media Investment Group, Inc		23
4,795		New York Times Co (Class A)		107
13,730		News Corp (Class A)		156
4,708		News Corp (Class B)		54
1,776		Nexstar Broadcasting Group, Inc (Class A)		140
8,049		Omnicom Group, Inc		589
7,425	*	Pandora Media, Inc		60
1,192	*	QuinStreet, Inc		19
787	*	Reading International, Inc		11
750	*	Rosetta Stone, Inc		12
175		Saga Communications, Inc		6
1,096		Scholastic Corp		44
2,721		Sinclair Broadcast Group, Inc (Class A)		72
43,509	e	Sirius XM Holdings, Inc		248
4,187	*	Take-Two Interactive Software, Inc		431
708	*	TechTarget, Inc		9
8,405		TEGNA, Inc		91
2,837		Tribune Co		129
780	*	Tribune Publishing Co		9
3,654	*	TripAdvisor, Inc		197
2,406	*	TrueCar, Inc		22
37,705		Twenty-First Century Fox, Inc		1,814
17,451		Twenty-First Century Fox, Inc (Class B)		834
26,241	*	Twitter, Inc		754
411		Viacom, Inc		11
12,186		Viacom, Inc (Class B)		313
53,869		Walt Disney Co		5,907
806	*	WideOpenWest, Inc		6
1,509		World Wrestling Entertainment, Inc (Class A)		113
3,020	*	Yelp, Inc		106
2,077	*	Zillow Group, Inc		65
4,117	*,e	Zillow Group, Inc (Class C)		130
30,167	*	Zynga, Inc		118
		TOTAL MEDIA & ENTERTAINMENT		65,474
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.5%
55,644		AbbVie, Inc		5,130
1,001	*	Abeona Therapeutics, Inc		7

28

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,739	*	Acadia Pharmaceuticals, Inc	$	60
987	*,e	Accelerate Diagnostics, Inc		11
1,231	*	Acceleron Pharma, Inc		54
1,147	*,e	Achaogen, Inc		1
4,855	*	Achillion Pharmaceuticals, Inc		8
797	*	Aclaris Therapeutics, Inc		6
1,689	*	Acorda Therapeutics, Inc		26
711	*,e	Adamas Pharmaceuticals, Inc		6
1,602	*	Aduro Biotech, Inc		4
1,984	*	Adverum Biotechnologies, Inc		6
1,175	*	Aerie Pharmaceuticals, Inc		42
2,830	*,e	Agenus, Inc		7
264	*,e	AgeX Therapeutics, Inc		1
11,956		Agilent Technologies, Inc		807
1,876	*	Agios Pharmaceuticals, Inc		87
1,385	*	Aimmune Therapeutics, Inc		33
574	*,e	Akcea Therapeutics, Inc		17
2,676	*	Akebia Therapeutics, Inc		15
3,444	*	Akorn, Inc		12
332	*	Albireo Pharma, Inc		8
2,198	*	Alder Biopharmaceuticals, Inc		23
7,934	*	Alexion Pharmaceuticals, Inc		772
5,962	*	Alkermes plc		176
239	*,e	Allakos, Inc		12
12,397		Allergan plc		1,657
368	*	Allogene Therapeutics, Inc		10
3,288	*	Alnylam Pharmaceuticals, Inc		240
1,423	*	AMAG Pharmaceuticals, Inc		22
23,558		Amgen, Inc		4,586
6,968	*,e	Amicus Therapeutics, Inc		67
2,888	*	Amneal Pharmaceuticals, Inc		39
1,331	*	Amphastar Pharmaceuticals, Inc		26
679	*	AnaptysBio, Inc		43
292	*	ANI Pharmaceuticals, Inc		13
1,330	*	Apellis Pharmaceuticals, Inc		18
409	*	Aptinyx, Inc		7
1,565	*	Aratana Therapeutics, Inc		10
1,297	*	Arbutus Biopharma Corp		5
1,066	*	Arcus Biosciences, Inc		11
894	*	Ardelyx, Inc		2
1,827	*	Arena Pharmaceuticals, Inc		71
3,173	*	Arqule, Inc		9
6,749	*	Array Biopharma, Inc		96
3,193	*,e	Arrowhead Research Corp		40
445	*	Arvinas, Inc		6
541	*	Assembly Biosciences, Inc		12
2,241	*	Assertio Therapeutics, Inc.		8
1,497	*	Atara Biotherapeutics, Inc		52
1,535	*,e	Athenex, Inc		19
2,944	*,e	Athersys, Inc		4
1,179	*	Audentes Therapeutics, Inc		25
3,670	*,e	AVEO Pharmaceuticals, Inc		6
1,798	*	Avid Bioservices, Inc		7
873	*	Bellicum Pharmaceuticals, Inc		3
3,132	*	BioCryst Pharmaceuticals, Inc		25
7,405	*	Biogen Idec, Inc		2,228
1,007	*	Biohaven Pharmaceutical Holding Co Ltd		37
6,544	*	BioMarin Pharmaceutical, Inc		557
826	*	Bio-Rad Laboratories, Inc (Class A)		192
213	*	Biospecifics Technologies Corp		13
1,318		Bio-Techne Corp		191
2,650	*,e	BioTime, Inc		2
1,782	*	Bluebird Bio, Inc		177
1,516	*	Blueprint Medicines Corp		82

29

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
59,939		Bristol-Myers Squibb Co	$	3,116
4,110		Bruker BioSciences Corp		122
1,175	*	Calithera Biosciences, Inc		5
311	*	Calyxt, Inc		3
1,265	*	Cambrex Corp		48
1,052	*,e	Cara Therapeutics Inc		14
1,181	*	CareDx, Inc		30
1,814	*,e	CASI Pharmaceuticals, Inc		7
4,893	*	Catalent, Inc		153
2,735	*	Catalyst Pharmaceuticals, Inc		5
25,835	*	Celgene Corp		1,656
442	*,e	Cellular Biomedicine Group, Inc		8
1,846	*	Charles River Laboratories International, Inc		209
1,103	*	ChemoCentryx, Inc		12
1,747	*	Chimerix, Inc		4
788	*,e	Clearside Biomedical, Inc		1
1,527	*,e	Clovis Oncology, Inc		27
1,314	*	Codexis, Inc		22
1,501	*	Coherus Biosciences, Inc		14
877	*,e	Collegium Pharmaceutical, Inc		15
642	*	Concert Pharmaceuticals Inc		8
1,738	*,e	Corbus Pharmaceuticals Holdings, Inc		10
3,522	*,e	Corcept Therapeutics, Inc		47
820	*,e	Corium International, Inc		0	^
349	*	Corvus Pharmaceuticals, Inc		1
1,848	*,e	CTI BioPharma Corp		1
297	*	Cue Biopharma, Inc		1
2,162	*	Cymabay Therapeutics, Inc		17
1,624	*	Cytokinetics, Inc		10
1,148	*	CytomX Therapeutics, Inc		17
286	*	Deciphera Pharmaceuticals, Inc		6
552	*,e	Denali Therapeutics, Inc		11
1,468	*	Dermira, Inc		11
1,627	*	Dicerna Pharmaceuticals Inc		17
195	*,e	Dova Pharmaceuticals, Inc		1
4,800	*	Durect Corp		2
1,590	*,e	Dynavax Technologies Corp		15
323	*	Eagle Pharmaceuticals, Inc		13
1,310	*	Editas Medicine, Inc		30
1,921	*	Elanco Animal Health, Inc		61
34,676		Eli Lilly & Co		4,013
792	*	Eloxx Pharmaceuticals, Inc		10
1,340	*	Emergent Biosolutions, Inc		79
648	*	Enanta Pharmaceuticals, Inc		46
8,687	*	Endo International plc		63
1,556	*	Enzo Biochem, Inc		4
1,664	*	Epizyme, Inc		10
554	*,e	Esperion Thereapeutics, Inc		25
503	*,e	Evelo Biosciences, Inc		7
4,274	*	Exact Sciences Corp		270
11,271	*	Exelixis, Inc		222
1,546	*	Fate Therapeutics, Inc		20
2,752	*	FibroGen, Inc		127
979	*	Five Prime Therapeutics, Inc		9
1,094	*,e	Flexion Therapeutics Inc		12
1,472	*	Fluidigm Corp		13
751	*	G1 Therapeutics, Inc		14
810	*	Genomic Health, Inc		52
6,445	*,e	Geron Corp		6
47,107		Gilead Sciences, Inc		2,947
1,425	*	Global Blood Therapeutics, Inc		58
1,226	*	GlycoMimetics Inc		12
4,274	*	Halozyme Therapeutics, Inc		63
1,743	*	Heron Therapeutics, Inc		45

30

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
542	*	Homology Medicines, Inc	$	12
6,384	*	Horizon Pharma plc		125
317	*	Idera Pharmaceuticals, Inc		1
5,387	*	Illumina, Inc		1,616
402	*	Immune Design Corp		1
3,349	*	Immunogen, Inc		16
4,854	*,e	Immunomedics, Inc		69
6,468	*	Incyte Corp		411
2,960	*	Innoviva, Inc		52
2,690	*	Inovio Pharmaceuticals, Inc		11
2,469	*	Insmed, Inc		32
998	*,e	Insys Therapeutics, Inc		3
561	*	Intellia Therapeutics, Inc		8
696	*	Intercept Pharmaceuticals, Inc		70
1,040	*	Intersect ENT, Inc		29
1,415	*	Intra-Cellular Therapies, Inc		16
2,121	*,e	Intrexon Corp		14
1,468	*	Invitae Corp		16
4,834	*	Ionis Pharmaceuticals, Inc		261
2,006	*	Iovance Biotherapeutics, Inc		18
5,731	*	IQVIA Holdings, Inc		666
5,284	*	Ironwood Pharmaceuticals, Inc		55
2,166	*	Jazz Pharmaceuticals plc		269
98,029		Johnson & Johnson		12,651
241	*	Jounce Therapeutics, Inc		1
2,507	*,e	Kadmon Holdings, Inc		5
312	*	Kala Pharmaceuticals, Inc		2
1,273	*	Karyopharm Therapeutics, Inc		12
841	*	Kindred Biosciences Inc		9
772	*	Kura Oncology, Inc		11
669	*,e	La Jolla Pharmaceutical Co		6
1,137	*,e	Lannett Co, Inc		6
1,763	*,e	Lexicon Pharmaceuticals, Inc		12
773	*	Ligand Pharmaceuticals, Inc (Class B)		105
978	*	Loxo Oncology, Inc		137
1,582		Luminex Corp		37
1,309	*	MacroGenics, Inc		17
153	*,e	Madrigal Pharmaceuticals, Inc		17
2,997	*	Mallinckrodt plc		47
5,078	*,e	MannKind Corp		5
1,316	*,e	Marinus Pharmaceuticals, Inc		4
2,689	*	Medicines Co		51
1,230	*,e	MediciNova, Inc		10
289	*	Medpace Holdings, Inc		15
343	*	Melinta Therapeutics, Inc		0	^
213	*	Menlo Therapeutics, Inc		1
396	*,e	Mersana Therapeutics, Inc		2
932	*	Mettler-Toledo International, Inc		527
992	*	Minerva Neurosciences, Inc		7
520	*,e	Miragen Therapeutics, Inc		2
664	*	Mirati Therapeutics, Inc		28
2,874	*	Momenta Pharmaceuticals, Inc		32
18,725	*	Mylan NV		513
1,123	*	MyoKardia, Inc		55
2,502	*	Myriad Genetics, Inc		73
689	*	NanoString Technologies, Inc		10
1,198	*	NantKwest, Inc		1
1,110	*	Natera, Inc		15
5,467	*	Nektar Therapeutics		180
2,201	*	NeoGenomics, Inc		28
564	*,e	Neos Therapeutics, Inc		1
3,420	*	Neurocrine Biosciences, Inc		244
866	*	NewLink Genetics Corp		1
11,296	*,e	Novavax, Inc		21

31

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,041	*,e	Nymox Pharmaceutical Corp	$	1
894	*	Ocular Therapeutix, Inc		4
216	*,e	Odonate Therapeutics, Inc		3
1,629	*,e	Omeros Corp		18
13,300	*	Opko Health, Inc		40
584	*,e	Optinose, Inc		4
2,776	*,e	Organovo Holdings, Inc		3
3,094	*	Pacific Biosciences of California, Inc		23
1,521	*	Pacira Pharmaceuticals, Inc		65
934	*,e	Paratek Pharmaceuticals, Inc		5
1,731	*	PDL BioPharma, Inc		5
4,283		PerkinElmer, Inc		336
4,834		Perrigo Co plc		187
211,107		Pfizer, Inc		9,215
720		Phibro Animal Health Corp		23
1,321	*	Pieris Pharmaceuticals, Inc		4
315	*,e	PolarityTE, Inc		4
1,961	*,e	Portola Pharmaceuticals, Inc		38
1,865	*	PRA Health Sciences, Inc		172
2,080	*	Prestige Brands Holdings, Inc		64
2,427	*	Progenics Pharmaceuticals, Inc		10
1,437	*	Prothena Corp plc		15
1,522	*	PTC Therapeutics, Inc		52
1,119	*	Puma Biotechnology, Inc		23
8,215	*	QIAGEN NV		283
442	*	Ra Pharmaceuticals, Inc		8
1,455	*	Radius Health, Inc		24
341	*	Reata Pharmaceuticals, Inc		19
456	*	Recro Pharma, Inc		3
2,955	*	Regeneron Pharmaceuticals, Inc		1,104
1,062	*	REGENXBIO, Inc		45
1,344	*	Repligen Corp		71
1,469	*	Retrophin, Inc		33
879	*	Revance Therapeutics, Inc		18
280	*	Rhythm Pharmaceuticals, Inc		8
4,657	*	Rigel Pharmaceuticals, Inc		11
763	*,e	Rocket Pharmaceuticals, Inc		11
333	*	Rubius Therapeutics, Inc		5
1,586	*	Sage Therapeutics, Inc		152
2,773	*	Sangamo Biosciences, Inc		32
2,236	*	Sarepta Therapeutics, Inc		244
911	*	Savara, Inc		7
95,805		Schering-Plough Corp		7,320
3,768	*	Seattle Genetics, Inc		213
474	*,e	Selecta Biosciences, Inc		1
745	*,e	Seres Therapeutics, Inc		3
547	*	Sienna Biopharmaceuticals, Inc		1
1,913	*,e	SIGA Technologies, Inc		15
332	*,e	Solid Biosciences, Inc		9
3,173	*,e	Sorrento Therapeutics, Inc		8
1,158	*	Spark Therapeutics, Inc		45
2,652	*	Spectrum Pharmaceuticals, Inc		23
573	*	Spring Bank Pharmaceuticals, Inc		6
834	*	Stemline Therapeutics, Inc		8
1,839	*	Supernus Pharmaceuticals, Inc		61
359	*	Syndax Pharmaceuticals, Inc		2
2,126	*	Syneos Health, Inc		84
496	*	Syros Pharmaceuticals, Inc		3
927	*,e	T2 Biosystems, Inc		3
1,333	*,e	Teligent, Inc		2
1,448	*,e	TESARO, Inc		108
1,526	*	Tetraphase Pharmaceuticals, Inc		2
1,870	*	TG Therapeutics, Inc		8
5,906	*,e	TherapeuticsMD, Inc		23

32

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,625	*,e	Theravance Biopharma, Inc	$	42
14,879		Thermo Fisher Scientific, Inc		3,330
327	*	Tocagen, Inc		3
340	*	Tricida, Inc		8
3,764	*	Tyme Technologies, Inc		14
1,517	*	Ultragenyx Pharmaceutical, Inc		66
1,741	*	United Therapeutics Corp		190
717	*,e	UNITY Biotechnology, Inc		12
1,691	*	Vanda Pharmaceuticals, Inc		44
594	*	Veracyte, Inc		7
1,933	*,e	Verastem, Inc		6
1,345	*	Vericel Corp		23
9,439	*	Vertex Pharmaceuticals, Inc		1,564
1,592	*,e	Viking Therapeutics, Inc		12
484	*	Voyager Therapeutics, Inc		5
2,907	*	Waters Corp		548
475	*,e	WaVe Life Sciences Pte Ltd		20
1,460	*	Xencor Inc		53
1,048	*	Zafgen, Inc		5
4,815	*,e	ZIOPHARM Oncology, Inc		9
17,973		Zoetis, Inc		1,537
1,053	*	Zogenix, Inc		38
		TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		78,374
REAL ESTATE - 3.9%
3,250		Acadia Realty Trust		77
943		Agree Realty Corp		56
2,540		Alexander & Baldwin, Inc		47
51		Alexander’s, Inc		16
3,763		Alexandria Real Estate Equities, Inc		434
466	*,e	Altisource Portfolio Solutions S.A.		10
1,599		American Assets Trust, Inc		64
5,246		American Campus Communities, Inc		217
8,855		American Homes 4 Rent		176
15,853		American Tower Corp		2,508
1,706		Americold Realty Trust		44
5,818		Apartment Investment & Management Co (Class A)		255
7,310		Apple Hospitality REIT, Inc		104
1,658		Armada Hoffler Properties, Inc		23
3,090		Ashford Hospitality Trust, Inc		12
5,036		AvalonBay Communities, Inc		877
769		Bluerock Residential Growth REIT, Inc		7
5,662		Boston Properties, Inc		637
1,249		BraeMar Hotels & Resorts, Inc		11
6,772		Brandywine Realty Trust		87
11,939		Brixmor Property Group, Inc		175
5,469		Brookfield Property REIT, Inc		88
552		Brt Realty Trust		6
3,382		Camden Property Trust		298
2,763		CareTrust REIT, Inc		51
1,667		CatchMark Timber Trust Inc		12
6,537	e	CBL & Associates Properties, Inc		13
11,178	*	CBRE Group, Inc		448
3,595		Cedar Realty Trust, Inc		11
1,449		Chatham Lodging Trust		26
2,308		Chesapeake Lodging Trust		56
1,087		City Office REIT, Inc		11
544		Clipper Realty, Inc		7
20,026		Colony Capital, Inc		94
4,776		Columbia Property Trust, Inc		92
498		Community Healthcare Trust, Inc		14
159		Consolidated-Tomoka Land Co		8
4,609		CoreCivic, Inc		82
419		CorEnergy Infrastructure Trust, Inc		14

33

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
473		CorePoint Lodging, Inc	$	6
1,335		Coresite Realty		116
3,896		Corporate Office Properties Trust		82
16,091		Cousins Properties, Inc		127
15,104		Crown Castle International Corp		1,641
6,597		CubeSmart		189
1,309	*	Cushman & Wakefield plc		19
3,383		CyrusOne, Inc		179
7,801		DiamondRock Hospitality Co		71
7,617		Digital Realty Trust, Inc		812
5,662		Douglas Emmett, Inc		193
12,847		Duke Realty Corp		333
1,340		Easterly Government Properties, Inc		21
1,286		EastGroup Properties, Inc		118
5,016		Empire State Realty Trust, Inc		71
2,455		Entertainment Properties Trust		157
2,894		Equinix, Inc		1,020
3,801		Equity Commonwealth		114
2,834		Equity Lifestyle Properties, Inc		275
13,086		Equity Residential		864
1,199		Essential Properties Realty Trust, Inc		17
2,377		Essex Property Trust, Inc		583
4,570		Extra Space Storage, Inc		413
967		Farmland Partners, Inc		4
2,807		Federal Realty Investment Trust		331
4,527		First Industrial Realty Trust, Inc		131
400	*	Forestar Group, Inc		6
2,420		Four Corners Property Trust, Inc		63
4,124		Franklin Street Properties Corp		26
1,944		Front Yard Residential Corp		17
309	*	FRP Holdings, Inc		14
6,862		Gaming and Leisure Properties, Inc		222
4,728		Geo Group, Inc		93
1,064		Getty Realty Corp		31
881		Gladstone Commercial Corp		16
547		Global Medical REIT, Inc		5
2,475		Global Net Lease, Inc		44
2,836	*,e	Government Properties Income Trust		19
1,871		Hannon Armstrong Sustainable Infrastructure Capital, Inc		36
17,510		HCP, Inc		489
4,494		Healthcare Realty Trust, Inc		128
7,668		Healthcare Trust of America, Inc		194
1,493		Hersha Hospitality Trust		26
1,412		HFF, Inc (Class A)		47
3,908		Highwoods Properties, Inc		151
5,289		Hospitality Properties Trust		126
26,196		Host Marriott Corp		437
1,318	*	Howard Hughes Corp		129
6,080		Hudson Pacific Properties		177
2,619		Independence Realty Trust, Inc		24
1,511		Industrial Logistics Properties Trust		30
239	e	Innovative Industrial Properties, Inc		11
460		Investors Real Estate Trust		23
11,120		Invitation Homes, Inc		223
10,280		Iron Mountain, Inc		333
2,674		iStar Financial, Inc		25
3,369		JBG SMITH Properties		117
322		Jernigan Capital, Inc		6
1,588		Jones Lang LaSalle, Inc		201
5,205		Kennedy-Wilson Holdings, Inc		95
3,350		Kilroy Realty Corp		211
16,000		Kimco Realty Corp		234
3,243		Kite Realty Group Trust		46
3,092		Lamar Advertising Co		214

34

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
8,135		Lexington Realty Trust	$	67
5,077		Liberty Property Trust		213
1,802		Life Storage, Inc		168
1,530		LTC Properties, Inc		64
5,384		Macerich Co		233
3,534		Mack-Cali Realty Corp		69
569	*	Marcus & Millichap, Inc		20
231	*	Maui Land & Pineapple Co, Inc		2
996		MedEquities Realty Trust, Inc		7
12,964		Medical Properties Trust, Inc		208
4,212		Mid-America Apartment Communities, Inc		403
2,597		Monmouth Real Estate Investment Corp (Class A)		32
1,356		National Health Investors, Inc		102
5,301		National Retail Properties, Inc		257
1,700		National Storage Affiliates Trust		45
3,164		New Senior Investment Group, Inc		13
4,651		Newmark Group, Inc		37
662		NexPoint Residential Trust, Inc		23
2,094		NorthStar Realty Europe Corp		30
7,596		Omega Healthcare Investors, Inc		267
567		One Liberty Properties, Inc		14
5,152		Outfront Media, Inc		93
7,621		Paramount Group, Inc		96
7,462		Park Hotels & Resorts, Inc		194
5,135		Pebblebrook Hotel Trust		145
2,702	e	Pennsylvania REIT		16
5,940		Physicians Realty Trust		95
4,321		Piedmont Office Realty Trust, Inc		74
2,502		Potlatch Corp		79
2,737		Preferred Apartment Communities, Inc		38
22,420		Prologis, Inc		1,316
762		PS Business Parks, Inc		100
5,396		Public Storage, Inc		1,092
1,829		QTS Realty Trust, Inc		68
4,462		Rayonier, Inc		124
732		Re/Max Holdings, Inc		23
4,163	e	Realogy Holdings Corp		61
10,419		Realty Income Corp		657
2,193	*,e	Redfin Corp		32
5,824		Regency Centers Corp		342
4,204		Retail Opportunities Investment Corp		67
6,690		Retail Properties of America, Inc		73
605	*	Retail Value, Inc		15
2,561		Rexford Industrial Realty, Inc		75
6,612		RLJ Lodging Trust		108
283		RMR Group, Inc		15
3,057		RPT Realty		37
1,712		Ryman Hospitality Properties		114
6,162		Sabra Healthcare REIT, Inc		102
401		Safety Income and Growth, Inc		8
392		Saul Centers, Inc		19
4,023	*	SBA Communications Corp		651
1,918		Select Income REIT		14
9,263		Senior Housing Properties Trust		109
990	e	Seritage Growth Properties		32
11,271		Simon Property Group, Inc		1,893
6,051		SITE Centers Corp		67
3,174		SL Green Realty Corp		251
1,885		Spirit MTA REIT		13
3,189		Spirit Realty Capital, Inc		112
1,876	*	St. Joe Co		25
3,470		STAG Industrial, Inc		86
9,293		Starwood Property Trust, Inc		183
6,501		STORE Capital Corp		184

35

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
218	*	Stratus Properties, Inc	$	5
3,928		Summit Hotel Properties, Inc		38
2,801		Sun Communities, Inc		285
8,527		Sunstone Hotel Investors, Inc		111
3,676	e	Tanger Factory Outlet Centers, Inc		74
2,340		Taubman Centers, Inc		106
834	*	Tejon Ranch Co		14
1,821		Terreno Realty Corp		64
1,934		Tier REIT, Inc		40
761	*	Trinity Place Holdings, Inc		3
10,089		UDR, Inc		400
994		UMH Properties, Inc		12
6,462		Uniti Group, Inc		101
294		Universal Health Realty Income Trust		18
3,855		Urban Edge Properties		64
1,188		Urstadt Biddle Properties, Inc (Class A)		23
13,411		Ventas, Inc		786
38,221		VEREIT, Inc		273
13,187		VICI Properties, Inc		248
6,401		Vornado Realty Trust		397
7,181		Washington Prime Group, Inc		35
3,060		Washington REIT		70
4,685		Weingarten Realty Investors		116
14,133		Welltower, Inc		981
28,023		Weyerhaeuser Co		613
1,293		Whitestone REIT		16
5,134		WP Carey, Inc		335
4,278		Xenia Hotels & Resorts, Inc		74
		TOTAL REAL ESTATE		35,818
RETAILING - 5.9%
1,264	*	1-800-FLOWERS.COM, Inc (Class A)		15
2,429		Aaron’s, Inc		102
2,820		Abercrombie & Fitch Co (Class A)		57
2,632		Advance Auto Parts, Inc		414
14,862	*	Amazon.com, Inc		22,323
6,015		American Eagle Outfitters, Inc		116
367	*	America’s Car-Mart, Inc		27
727	*	Asbury Automotive Group, Inc		48
5,932	*	Ascena Retail Group, Inc		15
978	*	At Home Group, Inc		18
1,281	*	Autonation, Inc		46
956	*	AutoZone, Inc		801
1,364	*	Barnes & Noble Education, Inc		6
2,159		Barnes & Noble, Inc		15
4,627		Bed Bath & Beyond, Inc		52
8,970		Best Buy Co, Inc		475
824	e	Big 5 Sporting Goods Corp		2
1,547		Big Lots, Inc		45
1,502	*	BJ’s Wholesale Club Holdings, Inc		33
1,719	*	Booking Holdings, Inc		2,961
517	*	Boot Barn Holdings, Inc		9
1,023	e	Buckle, Inc		20
2,479	*	Burlington Stores, Inc		403
1,517		Caleres, Inc		42
437	e	Camping World Holdings, Inc		5
6,520	*	CarMax, Inc		409
1,051	*,e	Carvana Co		34
966		Cato Corp (Class A)		14
4,716		Chico’s FAS, Inc		27
670		Children’s Place Retail Stores, Inc		60
619		Citi Trends, Inc		13
708	*	Conn’s, Inc		13
764	*	Container Store Group, Inc		4

36

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,444		Core-Mark Holding Co, Inc	$	34
3,329		Dick’s Sporting Goods, Inc		104
590	e	Dillard’s, Inc (Class A)		36
9,689		Dollar General Corp		1,047
8,448	*	Dollar Tree, Inc		763
2,565		DSW, Inc (Class A)		63
404	*,e	Duluth Holdings, Inc		10
34,041	*	eBay, Inc		956
4,286	*	Etsy, Inc		204
4,386		Expedia, Inc		494
3,087	*	Express Parent LLC		16
2,096	*	Five Below, Inc		214
1,415	*	Floor & Decor Holdings, Inc		37
4,365		Foot Locker, Inc		232
322	*,e	Gaia, Inc		3
3,029	e	GameStop Corp (Class A)		38
8,144		Gap, Inc		210
254	*	Genesco, Inc		11
5,136		Genuine Parts Co		493
2,663	*,e	GNC Holdings, Inc		6
787		Group 1 Automotive, Inc		42
13,160	*	Groupon, Inc		42
3,346	*	GrubHub, Inc		257
2,487		Guess?, Inc		52
715		Haverty Furniture Cos, Inc		13
948	*	Hibbett Sports, Inc		14
41,992		Home Depot, Inc		7,215
1,422	*	Hudson Ltd		24
437	*	J. Jill, Inc		2
12,004	*,e	JC Penney Co, Inc		13
705	*	Kirkland’s, Inc		7
6,314		Kohl’s Corp		419
7,726		L Brands, Inc		198
487	*	Lands’ End, Inc		7
487	*	Leaf Group Ltd		3
2,114	*	Liberty Expedia Holdings, Inc		83
1,143	*	Liquidity Services, Inc		7
908		Lithia Motors, Inc (Class A)		69
10,704	*	LKQ Corp		254
29,750		Lowe’s Companies, Inc		2,748
1,099	*,e	Lumber Liquidators, Inc		10
11,147		Macy’s, Inc		332
1,129	*	MarineMax, Inc		21
3,766	*	Michaels Cos, Inc		51
1,185		Monro Muffler, Inc		82
924	*	Murphy USA, Inc		71
1,254	*	National Vision Holdings, Inc		35
4,562		Nordstrom, Inc		213
1,156		Nutri/System, Inc		51
20,474		Office Depot, Inc		53
1,846	*	Ollie’s Bargain Outlet Holdings, Inc		123
2,878	*	O’Reilly Automotive, Inc		991
567	*,e	Overstock.com, Inc		8
1,066	*,e	Party City Holdco, Inc		11
633		Penske Auto Group, Inc		26
765	e	PetMed Express, Inc		18
1,369		Pool Corp		204
2,851	*	Quotient Technology, Inc		30
14,260	*	Qurate Retail Group, Inc QVC Group		278
1,673	*	Rent-A-Center, Inc		27
769	*	RH		92
13,458		Ross Stores, Inc		1,120
3,687	*	Sally Beauty Holdings, Inc		63
576		Shoe Carnival, Inc		19

37

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,315	*	Shutterfly, Inc	$	53
719		Shutterstock, Inc		26
2,200		Signet Jewelers Ltd		70
1,596	*	Sleep Number Corp		51
1,157		Sonic Automotive, Inc (Class A)		16
1,434	*	Sportsman’s Warehouse Holdings, Inc		6
618	*	Stamps.com, Inc		96
1,859		Tailored Brands, Inc		25
19,566		Target Corp		1,293
4,588		Tiffany & Co		369
1,314		Tile Shop Holdings, Inc		7
432		Tilly’s, Inc		5
45,412		TJX Companies, Inc		2,032
4,523		Tractor Supply Co		377
2,073	*	Ulta Beauty, Inc		508
2,603	*	Urban Outfitters, Inc		86
2,078	*	Wayfair, Inc		187
252		Weyco Group, Inc		7
3,375	e	Williams-Sonoma, Inc		170
94		Winmark Corp		15
686	*	Zumiez, Inc		13
		TOTAL RETAILING		54,405
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.6%
716	*	Acacia Communications, Inc		27
1,546	*	Advanced Energy Industries, Inc		66
32,614	*	Advanced Micro Devices, Inc		602
844	*	Alpha & Omega Semiconductor Ltd		9
1,266	*	Ambarella, Inc		44
3,751	*	Amkor Technology, Inc		25
13,361		Analog Devices, Inc		1,147
36,201		Applied Materials, Inc		1,185
766	*	Aquantia Corp		7
1,183	*	Axcelis Technologies, Inc		21
1,452	*	AXT, Inc		6
15,119		Broadcom, Inc		3,844
2,689		Brooks Automation, Inc		70
1,007		Cabot Microelectronics Corp		96
839	*	Ceva, Inc		19
2,507	*	Cirrus Logic, Inc		83
1,495		Cohu, Inc		24
3,781	*	Cree, Inc		162
12,862		Cypress Semiconductor Corp		164
1,498	*	Diodes, Inc		48
5,537		Entegris, Inc		154
2,741	*	First Solar, Inc		116
2,989	*	Formfactor, Inc		42
445	*,e	Ichor Holdings Ltd		7
705	*	Impinj, Inc		10
1,603	*,e	Inphi Corp		52
4,497	*	Integrated Device Technology, Inc		218
167,539		Intel Corp		7,863
5,709		Kla-Tencor Corp		511
2,498	*	Kopin Corp		2
5,688		Lam Research Corp		775
5,097	*	Lattice Semiconductor Corp		35
1,568	*	MA-COM Technology Solutions		23
20,390		Marvell Technology Group Ltd		330
9,800		Maxim Integrated Products, Inc		498
2,280	*	MaxLinear, Inc		40
8,299		Microchip Technology, Inc		597
41,677	*	Micron Technology, Inc		1,322
1,742		MKS Instruments, Inc		113
1,572		Monolithic Power Systems, Inc		183

38

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,014	*	Nanometrics, Inc	$	28
1,216	*,e	NeoPhotonics Corp Ltd		8
192		NVE Corp		17
21,164		NVIDIA Corp		2,825
12,905		NXP Semiconductors NV		946
15,220	*	ON Semiconductor Corp		251
1,181	*	PDF Solutions, Inc		10
2,703	*	Photronics, Inc		26
1,113		Power Integrations, Inc		68
4,356	*	Qorvo, Inc		265
44,617		QUALCOMM, Inc		2,539
4,243	*	Rambus, Inc		33
1,221	*	Rudolph Technologies, Inc		25
2,520	*	Semtech Corp		116
1,625	*	Silicon Laboratories, Inc		128
6,509		Skyworks Solutions, Inc		436
51	*,e	SMART Global Holdings, Inc		1
2,299	*,e	SunPower Corp		11
7,076		Teradyne, Inc		222
35,521		Texas Instruments, Inc		3,357
1,266	*	Ultra Clean Holdings		11
1,575	e	Universal Display Corp		147
1,833	*	Veeco Instruments, Inc		14
4,186		Versum Materials, Inc		116
9,147		Xilinx, Inc		779
1,849		Xperi Corp		34
		TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		32,953
SOFTWARE & SERVICES - 10.9%
1,998	*	2U, Inc		99
3,462	*	8x8, Inc		62
1,883	*	A10 Networks, Inc		12
23,319		Accenture plc		3,288
4,522	*	ACI Worldwide, Inc		125
17,995	*	Adobe, Inc		4,071
6,269	*	Akamai Technologies, Inc		383
792	*	Alarm.com Holdings, Inc		41
1,710		Alliance Data Systems Corp		257
906	*	Altair Engineering, Inc		25
657	*	Alteryx, Inc		39
781	*	Amber Road, Inc		6
5,013		Amdocs Ltd		294
1,091		American Software, Inc (Class A)		11
303	*	Anaplan, Inc		8
3,091	*	Ansys, Inc		442
244	*	Appfolio, Inc		14
1,241	*	Apptio, Inc		47
2,704	*	Aspen Technology, Inc		222
3,301	*	Atlassian Corp plc		294
7,939	*	Autodesk, Inc		1,021
15,917		Automatic Data Processing, Inc		2,087
203	*	Avalara, Inc		6
3,817	*	Avaya Holdings Corp		56
613	*	Benefitfocus, Inc		28
5,264	*	Black Knight, Inc		237
1,852		Blackbaud, Inc		117
1,191	*	Blackline, Inc		49
5,256		Booz Allen Hamilton Holding Co		237
1,563	*	Bottomline Technologies, Inc		75
4,699	*	Box, Inc		79
1,247	*	Brightcove, Inc		9
4,137		Broadridge Financial Solutions, Inc		398
946	*	CACI International, Inc (Class A)		136
9,861	*	Cadence Design Systems, Inc		429

39

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
267	*	Carbon Black, Inc	$	4
960	*	Carbonite, Inc		24
1,770	*	Cardtronics plc		46
576		Cass Information Systems, Inc		30
4,696		CDK Global, Inc		225
837	*	Ceridian HCM Holding, Inc		29
921	*	ChannelAdvisor Corp		10
1,430	*	Cision Ltd		17
4,735		Citrix Systems, Inc		485
3,664	*	Cloudera, Inc		41
21,131		Cognizant Technology Solutions Corp (Class A)		1,341
1,509	*	Commvault Systems, Inc		89
7,418	*	Conduent, Inc		79
861		ConvergeOne Holdings, Inc		11
2,077	*	Cornerstone OnDemand, Inc		105
1,958	*	Coupa Software, Inc		123
1,299		CSG Systems International, Inc		41
335	*	Digimarc Corp		5
2,582	*,e	DocuSign, Inc		104
291	*	Domo, Inc		6
10,085		DXC Technology Co		536
927	e	Ebix, Inc		39
648	*	eGain Corp		4
135	*	Elastic NV		10
1,316	*	Ellie Mae, Inc		83
2,483	*	Endurance International Group Holdings, Inc		17
1,657	*	Envestnet, Inc		82
1,908	*	EPAM Systems, Inc		221
1,684	*	Euronet Worldwide, Inc		172
662	*	Everbridge, Inc		38
2,472	*	Everi Holdings, Inc		13
2,375		EVERTEC, Inc		68
503	*	Evo Payments, Inc		12
1,735	*	Exela Technologies, Inc		7
1,241	*	ExlService Holdings, Inc		65
1,096	*	Fair Isaac Corp		205
11,993		Fidelity National Information Services, Inc		1,230
6,880	*	FireEye, Inc		112
3,306	*	First American Corp		110
19,764	*	First Data Corp		334
14,423	*	Fiserv, Inc		1,060
2,029	*	Five9, Inc		89
3,223	*	FleetCor Technologies, Inc		599
1,062	*	ForeScout Technologies, Inc		28
5,020	*	Fortinet, Inc		354
3,300	*	Gartner, Inc		422
5,261		Genpact Ltd		142
5,776		Global Payments, Inc		596
5,554	*	GoDaddy, Inc		364
1,166	*,e	GTT Communications, Inc		28
2,905	*	Guidewire Software, Inc		233
1,077		Hackett Group, Inc		17
1,639	*	Hortonworks, Inc		24
1,304	*	HubSpot, Inc		164
1,304	*	Imperva, Inc		73
1,377	*	Information Services Group, Inc		6
825	*	Instructure, Inc		31
790	*,e	Internap Corp		3
33,210		International Business Machines Corp		3,775
8,867		Intuit, Inc		1,745
1,794		j2 Global, Inc		124
2,895		Jack Henry & Associates, Inc		366
5,319		Leidos Holdings, Inc		280
3,363	*	Limelight Networks, Inc		8

40

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,140	*	Liveperson, Inc	$	40
3,018	*	LiveRamp Holdings, Inc		117
1,820		LogMeIn, Inc		148
745	*	Majesco		5
2,696	*	Manhattan Associates, Inc		114
1,025		Mantech International Corp (Class A)		54
33,412		MasterCard, Inc (Class A)		6,303
2,490		MAXIMUS, Inc		162
276,926		Microsoft Corp		28,127
367	*	MicroStrategy, Inc (Class A)		47
1,433	*	MINDBODY, Inc		52
1,253	*	Mitek Systems, Inc		14
1,693	*	MobileIron, Inc		8
844	*	Model N, Inc		11
1,065	*	MoneyGram International, Inc		2
1,609		Monotype Imaging Holdings, Inc		25
1,631	*	New Relic, Inc		132
2,596		NIC, Inc		32
11,208	*	Nuance Communications, Inc		148
4,052	*	Nutanix, Inc		169
3,179	*	Okta, Inc		203
1,227	*	OneSpan, Inc		16
94,143		Oracle Corp		4,251
444	*	Park City Group, Inc		3
11,779		Paychex, Inc		767
1,911	*	Paycom Software, Inc		234
1,003	*	Paylocity Holding Corp		60
43,511	*	PayPal Holdings, Inc		3,659
1,438		Pegasystems, Inc		69
1,320	*	Perficient, Inc		29
5,214		Perspecta, Inc		90
757	*	Pluralsight, Inc		18
707		Presidio, Inc		9
621	*	PRGX Global, Inc		6
1,791		Progress Software Corp		64
1,867	*	Proofpoint, Inc		156
1,099	*	PROS Holdings, Inc		35
4,095	*	PTC, Inc		339
1,206	*	Q2 Holdings, Inc		60
400		QAD, Inc (Class A)		16
1,213	*	Qualys, Inc		91
809	*	Rapid7, Inc		25
2,285	*	RealPage, Inc		110
6,585	*	Red Hat, Inc		1,157
2,430	*	RingCentral, Inc		200
10,188		Sabre Corp		220
1,841	*	SailPoint Technologies Holding, Inc		43
25,835	*	salesforce.com, Inc		3,539
1,738		Science Applications International Corp		111
257	*,e	SecureWorks Corp		4
266	*	SendGrid, Inc		11
6,396	*	ServiceNow, Inc		1,139
2,827	*	ServiceSource International LLC		3
266	*,e	ShotSpotter, Inc		8
5,371	*	Splunk, Inc		563
690	*	SPS Commerce, Inc		57
10,606	*	Square, Inc		595
7,627		SS&C Technologies Holdings, Inc		344
871	*,e	SVMK, Inc		11
1,325	e	Switch, Inc		9
1,511	*	Sykes Enterprises, Inc		37
23,044		Symantec Corp		435
5,312	*	Synopsys, Inc		447
2,342	*	Tableau Software, Inc		281

41

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,099	*	Telaria, Inc	$	6
834	*	TeleNav, Inc		3
303	*	Tenable Holdings, Inc		7
4,419	*	Teradata Corp		170
4,572		TiVo Corp		43
6,552		Total System Services, Inc		533
1,162	*	Trade Desk, Inc		135
4,786		Travelport Worldwide Ltd		75
541		TTEC Holdings, Inc		15
349	*,e	Tucows, Inc		21
2,425	*	Twilio, Inc		217
1,396	*	Tyler Technologies, Inc		259
1,115	*	Ultimate Software Group, Inc		273
2,160	*,e	Unisys Corp		25
265	*	Upland Software, Inc		7
1,028	*	Varonis Systems, Inc		54
2,429	*	Verint Systems, Inc		103
3,905	*	VeriSign, Inc		579
2,063	*,e	VirnetX Holding Corp		5
1,072	*	Virtusa Corp		46
64,932		Visa, Inc (Class A)		8,567
2,550		VMware, Inc (Class A)		350
16,201		Western Union Co		276
1,532	*	WEX, Inc		215
5,379	*	Workday, Inc		859
912	*	Workiva, Inc		33
10,607	*	Worldpay, Inc		811
2,990	*	Yext, Inc		44
3,760	*	Zendesk, Inc		219
2,044	*	Zix Corp		12
2,136	*	Zscaler, Inc		84
		TOTAL SOFTWARE & SERVICES		100,688
TECHNOLOGY HARDWARE & EQUIPMENT - 5.3%
4,245	*	3D Systems Corp		43
1,869		Adtran, Inc		20
932	*	Aerohive Networks, Inc		3
596	*	Agilysys, Inc		9
10,617		Amphenol Corp (Class A)		860
1,131	*	Anixter International, Inc		61
173,841	d	Apple, Inc		27,421
712	*,e	Applied Optoelectronics, Inc		11
2,109	*	Arista Networks, Inc		444
6,515	*	ARRIS International plc		199
2,894	*	Arrow Electronics, Inc		200
1,363	*	Avid Technology, Inc		6
4,242		Avnet, Inc		153
1,630		AVX Corp		25
1,096		Badger Meter, Inc		54
429		Bel Fuse, Inc (Class B)		8
1,632		Belden CDT, Inc		68
1,932		Benchmark Electronics, Inc		41
1,369	*	CalAmp Corp		18
1,907	*	Calix, Inc		19
176	*	Casa Systems, Inc		2
5,378		CDW Corp		436
5,012	*	Ciena Corp		170
166,923		Cisco Systems, Inc		7,233
522	*	Clearfield, Inc		5
6,048		Cognex Corp		234
954	*	Coherent, Inc		101
6,754	*	CommScope Holding Co, Inc		111
784		Comtech Telecommunications Corp		19
938	*	Control4 Corp		16

42

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
28,424		Corning, Inc	$	859
1,568	*	Cray, Inc		34
1,256		CTS Corp		33
48		Daktronics, Inc		0	^
4,566	*	Dell Technologies, Inc		223
2,906	e	Diebold, Inc		7
1,019	*	Digi International, Inc		10
2,138		Dolby Laboratories, Inc (Class A)		132
789	*,e	Eastman Kodak Co		2
1,847	*	EchoStar Corp (Class A)		68
1,199	*	Electro Scientific Industries, Inc		36
1,788	*	Electronics for Imaging, Inc		44
518	*	ePlus, Inc		37
4,537	*	Extreme Networks, Inc		28
2,205	*	F5 Networks, Inc		357
1,440	*	Fabrinet		74
655	*	FARO Technologies, Inc		27
4,415	*	Finisar Corp		95
6,696	*	Fitbit, Inc		33
4,988		Flir Systems, Inc		217
3,142	*	Harmonic, Inc		15
55,459		Hewlett Packard Enterprise Co		733
58,545		HP, Inc		1,198
2,439	*	II-VI, Inc		79
1,305	*	Immersion Corp		12
5,792	*	Infinera Corp		23
1,383	*	Insight Enterprises, Inc		56
1,347		InterDigital, Inc		89
1,406	*	IPG Photonics Corp		159
944	*	Iteris, Inc		4
1,329	*	Itron, Inc		63
5,895		Jabil Circuit, Inc		146
12,811		Juniper Networks, Inc		345
1,750		Kemet Corp		31
6,871	*	Keysight Technologies, Inc		427
1,038	*	Kimball Electronics, Inc		16
3,427	*	Knowles Corp		46
758	*	KVH Industries, Inc		8
939		Littelfuse, Inc		161
2,759	*	Lumentum Holdings, Inc		116
1,366	*,e	Maxwell Technologies, Inc		3
126		Mesa Laboratories, Inc		26
1,398		Methode Electronics, Inc		33
5,680		Motorola, Inc		653
632		MTS Systems Corp		25
428	*	Napco Security Technologies, Inc		7
4,043		National Instruments Corp		183
4,702	*	NCR Corp		109
9,394		NetApp, Inc		561
1,274	*	Netgear, Inc		66
3,375	*	Netscout Systems, Inc		80
236	*,e	nLight, Inc		4
1,269	*	Novanta, Inc		80
673	*	OSI Systems, Inc		49
3,213	*	Palo Alto Networks, Inc		605
766		Park Electrochemical Corp		14
430		PC Connection, Inc		13
1,300		Plantronics, Inc		43
1,309	*	Plexus Corp		67
6,099	*	Pure Storage, Inc		98
807	*	Quantenna Communications, Inc		12
2,205	*	Ribbon Communications, Inc		11
701	*	Rogers Corp		69
2,856	*	Sanmina Corp		69

43

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
958	*	Scansource, Inc	$	33
1,939	*	Stratasys Ltd		35
1,338	*	Synaptics, Inc		50
1,480		SYNNEX Corp		120
1,361	*	Tech Data Corp		111
9,398	*	Trimble Navigation Ltd		309
3,576	*	TTM Technologies, Inc		35
563	e	Ubiquiti Networks, Inc		56
1,586	*	USA Technologies, Inc		6
2,057	*,e	Viasat, Inc		121
8,882	*	Viavi Solutions, Inc		89
5,245		Vishay Intertechnology, Inc		94
398	*	Vishay Precision Group, Inc		12
10,553		Western Digital Corp		390
7,295		Xerox Corp		144
1,840	*	Zebra Technologies Corp (Class A)		293
		TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		48,811
TELECOMMUNICATION SERVICES - 2.0%
263,950		AT&T, Inc		7,533
373		ATN International, Inc		27
1,565	*	Boingo Wireless, Inc		32
35,344		CenturyLink, Inc		536
1,877	*	Cincinnati Bell, Inc		15
1,599		Cogent Communications Group, Inc		72
2,586		Consolidated Communications Holdings, Inc		26
3,091	*,e	Frontier Communications Corp		7
2,248	*,e	Gogo, Inc		7
1,272	*	Intelsat S.A.		27
2,990	*	Iridium Communications, Inc		55
3,269	*,e	NII Holdings, Inc		14
661	*	Ooma, Inc		9
2,552	*	Orbcomm, Inc		21
410	*	pdvWireless, Inc		15
1,811		Shenandoah Telecom Co		80
859		Spok Holdings, Inc		11
24,656	*	Sprint Corp		144
3,834		Telephone & Data Systems, Inc		125
10,941	*	T-Mobile US, Inc		696
176	*	US Cellular Corp		9
151,357		Verizon Communications, Inc		8,509
7,849	*	Vonage Holdings Corp		69
7,262	*	Zayo Group Holdings, Inc		166
		TOTAL TELECOMMUNICATION SERVICES		18,205
TRANSPORTATION - 2.0%
2,138	*	Air Transport Services Group, Inc		49
4,469		Alaska Air Group, Inc		272
502		Allegiant Travel Co		50
260		Amerco, Inc		85
15,587		American Airlines Group, Inc		501
1,131		Arkansas Best Corp		39
913	*	Atlas Air Worldwide Holdings, Inc		39
2,527	*	Avis Budget Group, Inc		57
5,125		CH Robinson Worldwide, Inc		431
1,092		Copa Holdings S.A. (Class A)		86
1,032		Costamare, Inc		5
452	*	Covenant Transportation Group, Inc		9
29,671		CSX Corp		1,843
763	*	Daseke, Inc		3
23,072		Delta Air Lines, Inc		1,151
1,536	*	Eagle Bulk Shipping, Inc		7
1,070	*	Echo Global Logistics, Inc		22
6,349		Expeditors International of Washington, Inc		432

44

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
8,982		FedEx Corp	$	1,449
902		Forward Air Corp		49
2,185	*	Genesee & Wyoming, Inc (Class A)		162
1,746		Hawaiian Holdings, Inc		46
1,188		Heartland Express, Inc		22
2,016	*	Hertz Global Holdings, Inc		28
1,279	*	Hub Group, Inc (Class A)		47
3,200		JB Hunt Transport Services, Inc		298
10,338	*	JetBlue Airways Corp		166
3,722		Kansas City Southern Industries, Inc		355
2,088	*	Kirby Corp		141
4,783		Knight-Swift Transportation Holdings, Inc		120
1,543		Landstar System, Inc		148
3,019		Macquarie Infrastructure Co LLC		110
1,495		Marten Transport Ltd		24
1,675		Matson, Inc		54
10,300		Norfolk Southern Corp		1,540
2,413		Old Dominion Freight Line		298
334		Park-Ohio Holdings Corp		10
1,449	*	Radiant Logistics, Inc		6
1,666		Ryder System, Inc		80
1,798	*	Safe Bulkers, Inc		3
945	*	Saia, Inc		53
1,179		Schneider National, Inc		22
2,180		Scorpio Bulkers, Inc		12
1,961		Skywest, Inc		87
18,733		Southwest Airlines Co		871
2,736	*	Spirit Airlines, Inc		158
26,900		Union Pacific Corp		3,719
8,888	*	United Continental Holdings, Inc		744
25,159		United Parcel Service, Inc (Class B)		2,454
200		Universal Truckload Services, Inc		4
1,875		Werner Enterprises, Inc		55
4,303	*	XPO Logistics, Inc		245
147	*	YRC Worldwide, Inc		0	^
		TOTAL TRANSPORTATION		18,661
UTILITIES - 3.3%
24,589		AES Corp		356
1,901		Allete, Inc		145
8,576		Alliant Energy Corp		362
8,765		Ameren Corp		572
18,027		American Electric Power Co, Inc		1,347
1,409		American States Water Co		94
6,446		American Water Works Co, Inc		585
6,497		Aqua America, Inc		222
443	*	AquaVenture Holdings Ltd		8
366		Artesian Resources Corp		13
5,498	*,e	Atlantic Power Corp		12
3,854		Atmos Energy Corp		357
2,130		Avangrid, Inc		107
2,203		Avista Corp		94
1,582		Black Hills Corp		99
812	*,e	Cadiz, Inc		8
1,860		California Water Service Group		89
18,313		Centerpoint Energy, Inc		517
640		Chesapeake Utilities Corp		52
1,290		Clearway Energy, Inc (Class A)		22
2,243		Clearway Energy, Inc (Class C)		39
10,479		CMS Energy Corp		520
438		Connecticut Water Service, Inc		29
11,245		Consolidated Edison, Inc		860
626		Consolidated Water Co, Inc		7
23,737		Dominion Resources, Inc		1,696

45

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
6,614		DTE Energy Co	$	729
25,990		Duke Energy Corp		2,243
11,609		Edison International		659
1,320		El Paso Electric Co		66
6,288		Entergy Corp		541
9,765		Evergy, Inc		554
11,262		Eversource Energy		732
35,159		Exelon Corp		1,586
17,706		FirstEnergy Corp		665
349		Global Water Resources, Inc		4
3,788		Hawaiian Electric Industries, Inc		139
1,806		Idacorp, Inc		168
7,499		MDU Resources Group, Inc		179
1,395		MGE Energy, Inc		84
644		Middlesex Water Co		34
2,568		National Fuel Gas Co		131
3,351		New Jersey Resources Corp		153
17,394		NextEra Energy, Inc		3,023
13,494		NiSource, Inc		342
1,124		Northwest Natural Holding Co		68
1,853		NorthWestern Corp		110
10,334		NRG Energy, Inc		409
7,848		OGE Energy Corp		308
2,027		ONE Gas, Inc		161
1,582		Ormat Technologies, Inc		83
1,523		Otter Tail Corp		76
2,658		Pattern Energy Group, Inc		49
19,186	*	PG&E Corp		456
3,779		Pinnacle West Capital Corp		322
3,215		PNM Resources, Inc		132
3,158		Portland General Electric Co		145
25,287		PPL Corp		716
18,141		Public Service Enterprise Group, Inc		944
626	*	Pure Cycle Corp		6
263		RGC Resources, Inc		8
5,272		SCANA Corp		252
9,811		Sempra Energy		1,061
678		SJW Corp		38
3,054		South Jersey Industries, Inc		85
37,793		Southern Co		1,660
1,840		Southwest Gas Corp		141
431	e	Spark Energy, Inc		3
1,831		Spire, Inc		136
1,698		TerraForm Power, Inc		19
6,086		UGI Corp		325
534		Unitil Corp		27
2,800		Vectren Corp		202
13,883	*	Vistra Energy Corp		318
11,703		WEC Energy Group, Inc		811
18,569		Xcel Energy, Inc		915
490		York Water Co		16
		TOTAL UTILITIES		30,246
		TOTAL COMMON STOCKS		917,516
		(Cost $417,196)
RIGHTS / WARRANTS - 0.0%
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
4,469	†	Media General, Inc		0
		TOTAL COMMERCIAL & PROFESSIONAL SERVICES		0

46

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY				VALUE (000)
DIVERSIFIED FINANCIALS - 0.0%
92		Emergent Capital Inc				$	0
		TOTAL DIVERSIFIED FINANCIALS					0
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
643	†	Forest Laboratories, Inc CVR					1
244	†	Omthera Pharmaceuticals, Inc					0	^
390		Tobira Therapeutics, Inc					0	^
		TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					1
		TOTAL RIGHTS / WARRANTS					1
		(Cost $0)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 1.0%
GOVERNMENT AGENCY DEBT - 0.5%
$    4,330,000		Federal Home Loan Bank (FHLB) FHLB	2.150	%	01/02/19		4,330
		TOTAL GOVERNMENT AGENCY DEBT					4,330
SHARES		COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.5%
4,765,978	c	State Street Navigator Securities Lending Government Money Market Portfolio					4,766
		TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					4,766
		TOTAL SHORT-TERM INVESTMENTS					9,096
		(Cost $9,096)
		TOTAL INVESTMENTS - 100.5%					926,613
		(Cost $426,292)
		OTHER ASSETS & LIABILITIES, NET - (0.5)%					(4,655	)
		NET ASSETS - 100.0%				$	921,958

Abbreviation(s):

CVR Contingent Value Right

REIT Real Estate Investment Trust

^ Amount represents less than $1,000.

* Non-income producing

† 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 $4,611,054.

Cost amounts are in thousands.

Futures contracts outstanding as of December 31, 2018 were as follows (notional amounts and values are in thousands):

Description	Number of long (short) contracts		Expiration date	Notional amount		Value		Unrealized appreciation (depreciation)
S&P 500 E Mini Index		36	03/15/19	$	4,781	$	4,509	$	(272	)

47

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, 2018, the related statement of operations for the year ended December 31, 2018, the statement of changes in net assets for each of the two years in the period ended December 31, 2018, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2018 (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, 2018 (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, 2018, 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, 2018 and the financial highlights for each of the five years in the period ended December 31, 2018 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, 2018 by correspondence with the custodian, 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 21, 2019

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

48

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 21, 2019	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 21, 2019	By: /s/ Carol W. Deckbar
		Carol W. Deckbar
		Principal Executive Officer and Executive
		Vice President
		(principal executive officer)
Dated: February 21, 2019	By: /s/ E. Scott Wickerham
		E. Scott Wickerham
		Principal 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

EX-99.12(A)(1)

Exhibit 12(a)(1)

TEACHERS INSURANCE AND ANNUITY ASSOCIATION (“TIAA”),

COLLEGE RETIREMENT EQUITIES FUND, TIAA-CREF FUNDS,

TIAA-CREF LIFE FUNDS, TIAA SEPARATE ACCOUNT VA-1, TIAA REAL ESTATE

ACCOUNT, AND TIAA SEPARATE ACCOUNT VA-3

(COLLECTIVELY, THE “FUNDS”)

CODE OF ETHICS

FOR

SENIOR FINANCIAL OFFICERS

Introduction

The honesty, integrity and sound judgment of the principal executive officers, principal financial officers, principal accounting officers and controllers of TIAA and the Funds (such officers and controllers are collectively referred to herein as the Senior Financial Officers) is fundamental to our reputation and success. Thus, in addition to complying with any other applicable corporate code of conduct, each Senior Financial Officer is subject to this Code.

Specific Provisions

Conflicts of Interest. Each Senior Financial Officer should avoid actual or apparent conflicts of interest between personal and professional relationships.

A “conflict of interest” occurs when a Senior Financial Officer’s personal interest interferes with the interests of TIAA and the Funds. For example, the Senior Financial Officer should not cause TIAA and the Funds to take action, or fail to take action, for the personal benefit of the Senior Financial Officer rather than the benefit of TIAA and the Funds. Other conflicts could occur from outside business activities that detract from an individual’s ability to devote appropriate time and attention to TIAA and the Funds. Any questions relating to potential conflict of interest situations should be discussed with the Executive Vice President, Chief Legal Officer.

Complete and Accurate Disclosures. Each Senior Financial Officer is required to be familiar, and comply, with the TIAA and the Funds disclosure controls and procedures so that the TIAA and the Funds documents filed with the SEC comply in all material respects with applicable federal securities laws. In addition, each Senior Financial Officer having direct or supervisory authority regarding SEC filings for TIAA and the Funds and other public communications should, to the extent appropriate within his or her area of responsibility, consult with other TIAA and the Funds officers and employees, or individuals contracted to perform such tasks, and take appropriate steps regarding these disclosures with the goal of making full, fair, accurate, timely and understandable disclosure.

Each Senior Financial Officer must:

· Familiarize himself or herself with the disclosure requirements applicable to TIAA and the Funds as well as the business and financial operations of TIAA and the Funds;

· Not knowingly misrepresent, or cause others to misrepresent, facts about TIAA and the Funds to others, whether within or outside TIAA and the Funds, including to the TIAA and the Funds’ internal auditors, independent Trustees, independent auditors, and to governmental regulators and self-regulatory organizations; and

· Adhere to the standards and restrictions imposed by applicable laws, rules and regulations, including those relating to affiliated transactions, accounting and auditing matters.

Reporting and Accountability. Each Senior Financial Officer must:

· Upon receipt of this Code, sign and submit to the Corporate Controller’s Area an acknowledgment stating that the Senior Financial Officer has received, read, and understands the Code;

· Annually thereafter submit a form to the Corporate Controller’s Area confirming that the Senior Financial Officer has received, read and understands the Code and has complied with its requirements; and

· Notify the Executive Vice President, Chief Legal Officer promptly if the Senior Financial Officer becomes aware of any existing or potential violation of the Code. Failure to do so is a violation of the Code.

Except as described otherwise below, the Executive Vice President, Chief Legal Officer is responsible for applying this Code to specific situations and has the authority to interpret and apply this Code to any particular situation. The Executive Vice President, Chief Legal Officer shall take all action he or she considers appropriate to investigate any actual or potential violations reported to him or her.

The Audit Committee of the TIAA Board of Trustees (the ‘TIAA Audit Committee”) and the Audit and Compliance Committees of the Boards of Trustees and Management Committee, as applicable, of the Funds (collectively, the “Funds Audit and Compliance Committees”) shall have the sole discretionary authority to approve any deviation or waiver from this Code for their respective Senior Financial Officers. Any waiver, including an implicit waiver, shall be promptly disclosed as required through either an SEC filing or a posting on the TIAA and the Funds’ Internet website. Such disclosure shall include a brief description of the nature of the waiver, the name of the person to whom the waiver was granted, and the date of the waiver. For purposes of such disclosure, (i) the term “waiver” means the approval by the TIAA Audit Committee or the Funds Audit and Compliance Committees of a material departure from a provision of this Code of Ethics, and (ii) the term “implicit

waiver” means the TIAA Audit Committee or the Funds Audit and Compliance Committees’ failure to take action within a reasonable period of time regarding a material departure from a provision of this Code.

TIAA and the Funds will promptly disclose any amendment to this Code in accordance with the SEC rules.

EX-99.12(A)(2)(I)

Exhibit 12(a)(2)(i)

CERTIFICATION

I, Carol W. Deckbar, certify that:

1. I have reviewed this report on Form N-CSR of the TIAA Separate Account VA-1;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer(s) and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Dated: February 21, 2019	By:	/s/ Carol W. Deckbar
		Carol W. Deckbar
		Principal Executive Officer and Executive
		Vice President
		(principal executive officer)

EX-99.12(A)(2)(II)

Exhibit 12(a)(2)(ii)

CERTIFICATION

I, E. Scott Wickerham, certify that:

1. I have reviewed this report on Form N-CSR of the TIAA Separate Account VA-1;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer(s) and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Dated: February 21, 2019	By:	/s/ E. Scott Wickerham
		E. Scott Wickerham
		Principal Financial Officer, Principal Accounting
		Officer and Treasurer
		(principal financial officer)

EX-99.12(B)

Exhibit 12(b)

CERTIFICATION

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code), each of the undersigned officers of the TIAA Separate Account VA-1 does hereby certify, to such officer’s knowledge, that:

This report on Form N-CSR of the TIAA Separate Account VA-1 (the “Separate Account”) (the “Form N-CSR”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Separate Account.

Dated: February 21, 2019	By:	/s/ Carol W. Deckbar
		Carol W. Deckbar
		Principal Executive Officer and Executive
		Vice President
		(principal executive officer)
Dated: February 21, 2019	By:	/s/ E. Scott Wickerham
		E. Scott Wickerham
		Principal Financial Officer, Principal Accounting
		Officer and Treasurer
		(principal financial officer)