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. 811-08961
TIAA-CREF LIFE FUNDS
(Exact name of Registrant as specified in charter)
730 Third Avenue, New York, New York 10017-3206
(Address of principal executive offices) (Zip code)
Stewart P. Greene, Esq.
c/o TIAA-CREF
730 Third Avenue
New York, New York 10017-3206
(Name and address of agent for service)
Registrant’s telephone number, including area code: 212-490-9000
Date of fiscal year end: December 31
Date of reporting period: June 30, 2013
Item 1. Reports to Stockholders.
Understanding your TIAA-CREF Life Funds report
This semiannual report contains information about the ten TIAA-CREF Life Funds and describes the funds’ results for the six months ended June 30, 2013. The report contains three main sections:
| • | The fund performance section compares each fund’s investment returns with those of its benchmark index. |
| • | The summary portfolios of investments list the industries and types of securities in which each fund had investments as of June 30, 2013. |
| • | The financial statements provide detailed information about the operations and financial condition of each fund. |
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. The risks of investing in the TIAA-CREF Life Funds vary from fund to fund; to see the risks of investing in an individual fund, please refer to that fund’s latest prospectus.
As always, you should carefully consider the investment objectives, risks, charges and expenses of any fund before investing. For a prospectus that contains this and other important information, please visit our website at tiaa-cref.org, or call 800 223-1200. We urge you to read the prospectus carefully before investing.
2 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Information on the TIAA-CREF Life Funds
Portfolio holdings
Securities and Exchange Commission (SEC) rules allow investment companies to list the top holdings of each fund in their annual and semiannual reports, instead of providing complete portfolio listings. The TIAA-CREF Life Funds also file complete portfolio listings with the SEC, and they are available to the public.
You can obtain a complete list of the TIAA-CREF Life Funds’ portfolio holdings (Schedules of Investments) as of the most recently completed fiscal quarter in the following ways:
• By visiting our website at tiaa-cref.org; or
• By calling us at 800 842-2252 to request a copy free of charge.
You can also obtain a complete list of the TIAA-CREF Life Funds’ portfolio holdings as of the most recently completed fiscal quarter, and for prior quarter-ends, from our SEC Form N-CSR and Form N-Q filings. Form N-CSR filings are as of December 31 or June 30; Form N-Q filings are as of March 31 or September 30. Copies of these forms are available:
• Through the Electronic Data Gathering and Retrieval System (EDGAR) on the SEC’s website at www.sec.gov; or
• From the SEC’s Office of Investor Education and Advocacy.
(Call 202 551-8090 for more information.)
Proxy voting
TIAA-CREF Life Funds’ ownership of stock gives it the right to vote on proxy issues of companies in which it invests. A description of our proxy voting policies and procedures can be found on our website at tiaa-cref.org or on the SEC’s website at www.sec.gov. You can also call us at 800 223-1200 to request a free copy. A report of how the funds voted during the most recently completed twelve-month period ended June 30 can be found on our website or on Form N-PX at www.sec.gov.
Contacting TIAA-CREF
There are three easy ways to contact us: by email, using the Contact Us link at the top of our home page; by mail at TIAA-CREF, 730 Third Avenue, New York, NY 10017–3206; or by phone at 800 223-1200.
Fund management
TIAA-CREF Life Funds are managed by the portfolio management teams of Teachers Advisors, Inc. The members of these teams are responsible for the day-to-day investment management of the funds.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 3
Equity Indexes
Broad market indexes
The Russell 3000® Index 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.
The MSCI EAFE Index measures the performance of the leading stocks in 22 developed market countries outside North America—in Europe, Australasia and the Far East.
Large-cap indexes
The S&P 500® Index is a market-capitalization-weighted index of the stocks of 500 leading companies in major industries of the U.S. economy.
The Russell 1000® Growth Index is a subset of the Russell 1000 Index, which measures the performance of the stocks of the 1,000 largest companies in the Russell 3000 Index, based on market capitalization. The Russell 1000 Growth Index measures the performance of those stocks of the Russell 1000 Index with higher relative forecasted growth rates and price/book ratios.
The Russell 1000 Value Index is a subset of the Russell 1000 Index, which measures the performance of the stocks of the 1,000 largest companies in the Russell 3000 Index, based on market capitalization. The Russell 1000 Value Index measures the performance of those stocks of the Russell 1000 Index with lower relative forecasted growth rates and price/book ratios.
Small-cap index
The Russell 2000® Index measures the performance of the stocks of the 2,000 smallest companies in the Russell 3000 Index, based on market capitalization.
Specialty equity index
The FTSE NAREIT All Equity REITs Index measures the performance of publicly traded real estate investment trusts in the United States that own, manage and lease investment-grade commercial real estate.
4 2013 Semiannual Report ¡ TIAA-CREF Life Funds
About the funds’ benchmarks
Fixed-income Index
The Barclays U.S. Aggregate Bond Index measures the performance of the domestic investment-grade, fixed-rate bond market, including government and corporate securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-backed securities.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Russell 1000, Russell 2000 and Russell 3000 are trademarks and service marks of Russell Investments. TIAA-CREF products are not promoted or sponsored by, or affiliated with, Russell Investments. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. This report is not approved, reviewed or produced by MSCI. S&P 500 is a registered trademark and service mark of the McGraw-Hill Companies, Inc. FTSE is a trademark of London Stock Exchange plc and The Financial Times Limited.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 5
Important information about expenses
All shareholders of the TIAA-CREF Life Funds incur ongoing costs, including management fees and other fund expenses.
The TIAA-CREF Life Funds are the underlying investment vehicles for certain variable life insurance and variable annuity contracts issued by TIAA-CREF Life Insurance Company. These contracts have additional administrative expense fees and mortality and expense risk charges. Because of these additional deductions, the costs to investors will be higher than the figures shown in the expense examples. Information about these additional charges can be found in the product prospectuses.
The expense examples that appear on the performance pages are intended to help you understand your ongoing costs only (in U.S. dollars) and do not reflect transactional costs incurred by the fund for buying and selling securities. The examples are designed to help you compare these ongoing costs with the ongoing costs of investing in other mutual funds. Shareholders of the TIAA-CREF Life Funds do not incur a sales charge on purchases, on reinvested dividends or other distributions.
The examples are based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (January 1, 2013–June 30, 2013).
Actual expenses
The first line in each table uses the fund’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. Some funds have a contractual fee reimbursement. Had these not been in effect, fund expenses would have been higher.
Hypothetical example for comparison purposes
The second line shows hypothetical account values and expenses based on the fund’s actual expense ratio for the six-month period and an assumed 5% per year rate of return before expenses. This was not the fund’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 fund with that of other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other mutual funds.
6 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Performance for the six months ended June 30, 2013
The Growth Equity Fund returned 11.86% for the period, compared with the 11.80% return of its benchmark, the Russell 1000® Growth Index. For the one-year period ended June 30, 2013, the fund returned 19.68%, versus 17.07% for the index.
During the first half of 2013, the broad U.S. stock market climbed 14.06%, as measured by the Russell 3000® Index. Most of the gains came in the first quarter, when the market rose 11.07%, partly on expectations that the Federal Reserve would maintain its stimulative policies. Stocks began to weaken in May, however, after Fed Chairman Ben Bernanke announced that the agency might reduce that stimulus later in the year if the U.S. economy continued to improve. The Russell 3000 Index ended the second quarter up a modest 2.69%.
For the six months, large-cap growth stocks trailed the broad U.S. stock market by more than two percentage points. Within the growth category, large caps trailed both small- and mid-cap stocks, which earned 17.44% and 14.70%, respectively. (Returns by investment style and capitalization size are based on the Russell indexes.)
For the ten years ended June 30, 2013, the Russell 1000 Growth Index posted an average annual return of 7.40%, lagging the 7.81% average gain of the Russell 3000 Index.
Consumer discretionary and health care do the heavy lifting
All ten industry sectors of the Russell 1000 Growth Index posted positive results for the period, and seven achieved double-digit gains. The greatest contributions came from the benchmark’s second- and third-largest sectors: consumer discretionary (up 20.2%) and health care (up 20.7%). Solid advances from the sizable industrial and consumer staples sectors also helped drive the index higher. Together, these four sectors made up more than one-half of the benchmark’s market capitalization on June 30, 2013.
The largest sector, information technology, turned in the weakest performance. Comprising more than one-quarter of the index at period-end, technology stocks returned just 1.9%.
The fund produced a double-digit gain and slightly topped its benchmark because of individual stock choices. These included overweight investments in Hertz and biotechnology companies Biogen Idec and Celgene. Results were further aided by an underweight in Apple.
These contributions were partly offset by other holdings that did not perform as expected. Chief among these were overweight positions in software providers Red Hat and Intuit, as well as an underweight in biotechnology firm Amgen. The exclusion of Microsoft also dampened relative results.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 7
Growth Equity Fund
Performance as of June 30, 2013
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Growth Equity Fund |
4/3/2000 | 11.86 | % | 19.68 | % | 6.13 | % | 7.15 | % | |||||||||||
| Russell 1000® Growth Index |
— | 11.80 | 17.07 | 7.47 | 7.40 | |||||||||||||||
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. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance may be lower.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Expense example
Six months ended June 30, 2013
| Growth Equity Fund | Beginning account value (1/1/13) |
Ending account value (6/30/13) |
Expenses paid during period* (1/1/13–6/30/13) |
|||||||||
| Actual return |
$1,000.00 | $1,118.58 | $2.73 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,022.22 | 2.61 | |||||||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The fund’s annualized six-month expense ratio for that period was 0.52%. The expense charges of the fund may at times reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
8 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Growth Equity Fund
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 9
Performance for the six months ended June 30, 2013
The Growth & Income Fund returned 13.14% for the period, compared with the 13.82% return of its benchmark, the S&P 500® Index. For the one-year period ended June 30, 2013, the fund returned 20.18%, versus 20.60% for the index.
The gains of the S&P 500 Index in the first half of 2013 were driven by a 10.61% return in the first quarter. Investors pushed the index higher on expectations that the Federal Reserve would maintain its stimulative policies. Stocks began to weaken in May, however, after Fed Chairman Ben Bernanke announced that the agency might reduce that stimulus later in the year if the U.S. economy continued to improve. The index returned a modest 2.91% for the second quarter.
For the six months, the large-cap stocks that make up the S&P 500 Index trailed the 14.06% return of the broad U.S. market, as measured by the Russell 3000® Index. More than one-third of the market capitalization of the Russell 3000 Index is comprised of small- and mid-cap stocks, which outpaced the large-cap stocks of the S&P 500 for the period.
For the ten years ended June 30, 2013, the S&P 500 Index posted an average annual return of 7.30%, versus 7.81% for the Russell 3000 Index.
Stock selections limit the fund’s return
All ten industry sectors of the S&P 500 Index scored positive returns for the period, and six achieved double-digit gains. Financials, the index’s second-largest sector, climbed 19.5% and made the largest contribution to the benchmark’s return. The health care and consumer discretionary sectors were also strong contributors, gaining 20.3% and 19.8%, respectively. Together, these three sectors made up more than two-fifths of the benchmark’s total market capitalization. The benchmark’s overall results were constrained by information technology, the largest sector in the index, which rose 6.4% for the period.
For the six months, the fund produced a double-digit gain but trailed its benchmark because of unfavorable stock selections. These included underweight positions in Microsoft, Boeing and telecommunications company CenturyLink. An out-of-benchmark holding in chemical producer Axiall also detracted.
This underperformance was offset in part by other, successful stock choices. Chief among these were overweight positions in Hartford Financial Services Group, Netflix and biotechnology firm Gilead Sciences. A nonbenchmark investment in Delta Air Lines aided relative results as well.
10 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Growth & Income Fund
Performance as of June 30, 2013
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Growth & Income Fund |
4/3/2000 | 13.14 | % | 20.18 | % | 7.42 | % | 9.10 | % | |||||||||||
| S&P 500 Index |
— | 13.82 | 20.60 | 7.01 | 7.30 | |||||||||||||||
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. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance may be lower.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Expense example
Six months ended June 30, 2013
| Growth & Income Fund | Beginning account value (1/1/13) |
Ending account value (6/30/13) |
Expenses paid during period* (1/1/13–6/30/13) |
|||||||||
| Actual return |
$1,000.00 | $1,131.38 | $2.75 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,022.22 | 2.61 | |||||||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The fund’s annualized six-month expense ratio for that period was 0.52%. The expense charges of the fund may at times reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 11
Growth & Income Fund
12 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Performance for the six months ended June 30, 2013
The Large-Cap Value Fund returned 15.96% for the period, compared with the 15.90% return of its benchmark, the Russell 1000® Value Index. For the one-year period ended June 30, 2013, the fund returned 26.66%, versus 25.32% for the benchmark.
During the first half of 2013, the broad U.S. stock market climbed 14.06%, as measured by the Russell 3000® Index. Most of the gains came in the first quarter, when the market rose 11.07%, partly on expectations that the Federal Reserve would maintain its stimulative policies. Stocks began to weaken in May, however, after Fed Chairman Ben Bernanke announced that the agency might reduce that stimulus later in the year if the U.S. economy continued to improve. The Russell 3000 ended the second quarter up a modest 2.69%.
For the six months, large-cap value stocks outperformed the 11.80% return of their growth counterparts, as measured by the Russell 1000 Growth Index. Within the value category, large-cap stocks outpaced the 14.39% return of small-cap issues but slightly lagged the 16.10% gain of mid caps. (Returns by capitalization size and investment style are based on the Russell indexes.)
For the ten years ended June 30, 2013, the Russell 1000 Value Index posted an average annual return of 7.79%, significantly higher than the 7.40% average return of the Russell 1000 Growth Index.
Financials lift the benchmark higher
All but one of the ten industry sectors of the Russell 1000 Value Index advanced for the period, with seven achieving double-digit gains. Financials, by far the benchmark’s largest sector in terms of market capitalization on June 30, 2013, led the benchmark upward with a 19.4% climb. Health care did even better, generating a 20.1% return. Together, these two sectors made up more than a third of the index’s market capitalization at period end. Information technology (up 25.8%) and consumer discretionary (up 20.0%) also posted strong gains, though the contribution of these sectors to benchmark performance was limited by their relatively small size. The only loss came from the materials sector, which returned –2.5%.
The fund outpaced its benchmark because of favorable stock choices. These included overweight positions in Green Mountain Coffee Roasters, electronics retailer Best Buy and Hertz. An out-of-benchmark holding in oilfield services company Lufkin Industries provided additional help.
These contributors to relative performance more than offset several detractors, including overweights in international mining company Cliffs Natural Resources, coal and natural gas producer Walter Energy and security systems provider ADT.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 13
Large-Cap Value Fund
Performance as of June 30, 2013
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Large-Cap Value Fund |
10/28/2002 | 15.96 | % | 26.66 | % | 7.40 | % | 8.40 | % | |||||||||||
| Russell 1000® Value Index |
— | 15.90 | 25.32 | 6.67 | 7.79 | |||||||||||||||
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. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance may be lower.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Expense example
Six months ended June 30, 2013
| Large-Cap Value Fund | Beginning account value (1/1/13) |
Ending account value (6/30/13) |
Expenses paid during period* (1/1/13–6/30/13) |
|||||||||
| Actual return |
$1,000.00 | $1,159.58 | $2.78 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,022.22 | 2.61 | |||||||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The fund’s annualized six-month expense ratio for that period was 0.52%. The expense charges of the fund may at times reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
14 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Large-Cap Value Fund
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 15
Performance for the six months ended June 30, 2013
The Real Estate Securities Fund returned 3.54% for the period, compared with the 5.79% return of its benchmark, the FTSE NAREIT All Equity REITs Index. For the one-year period ended June 30, 2013, the fund returned 6.71%, versus 10.21% for the index.
After returning 19.70% during 2012, real estate investment trusts continued their strong performance in the first quarter of 2013, gaining 8.10%. In the second quarter, however, REITs posted a decline of 2.13%, as rising yields on U.S. Treasury securities made them more attractive than REITs for some income-oriented investors.
For the six months, REITs lagged the broad U.S. stock market by more than eight percentage points: the Russell 3000® Index soared 14.06%. REITs, however, strongly outperformed the domestic investment-grade, fixed-rate bond market, which lost 2.44%, as measured by the Barclays U.S. Aggregate Bond Index.
For the ten years ended June 30, 2013, the fund’s benchmark posted an average annual gain of 10.96%, well ahead of both the 7.81% average annual return of the Russell 3000 Index and the 4.52% average return of the Barclays aggregate index.
Stock selections limit the fund’s relative results
All but one of the benchmark’s 14 property sectors posted gains for the six months, including three that generated double-digit earnings. The driving force behind the benchmark’s advance was the 9.4% return from health care REITs, the third-largest sector of the index. Solid results from the lodging and resorts (up 10.5%), shopping center (up 8.3%) and office (up 6.7%) sectors also made strong contributions. The only loss came from the infrastructure sector, which fell 4.6%.
The fund lagged its benchmark by more than two percentage points for the period largely because of stock choices that underperformed. Chief among these were overweight positions in American Campus Communities, an owner and manager of student housing, and AvalonBay Communities, an apartment owner. An underweight in CommonWealth REIT, which operates office properties throughout the United States, trimmed relative results as well.
These negative effects were partly offset by positive contributions to relative performance from such holdings as an overweight investment in Strategic Hotels & Resorts and office REIT SL Green. An underweight in wireless telecommunications company American Tower also aided returns.
16 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Real Estate Securities Fund
Performance as of June 30, 2013
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Real Estate Securities Fund |
10/28/2002 | 3.54 | % | 6.71 | % | 7.08 | % | 9.85 | % | |||||||||||
| FTSE NAREIT All Equity REITs Index |
— | 5.79 | 10.21 | 7.72 | 10.96 | |||||||||||||||
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. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance may be lower.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Expense example
Six months ended June 30, 2013
| Real Estate Securities Fund | Beginning account value (1/1/13) |
Ending account value (6/30/13) |
Expenses paid during period* (1/1/13–6/30/13) |
|||||||||
| Actual return |
$1,000.00 | $1,035.43 | $2.88 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,021.97 | 2.86 | |||||||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The fund’s annualized six-month expense ratio for that period was 0.57%. The expense charges of the fund may at times reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 17
Real Estate Securities Fund
18 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Performance for the six months ended June 30, 2013
The Small-Cap Equity Fund returned 16.75% for the period, compared with the 15.86% return of its benchmark, the Russell 2000® Index. For the one-year period ended June 30, 2013, the fund returned 24.06%, versus 24.21% for the index.
During the first half of 2013, the broad U.S. stock market climbed 14.06%, as measured by the Russell 3000® Index. Most of the gains came in the first quarter, when the market rose 11.07%, partly on expectations that the Federal Reserve would maintain its stimulative policies. Stocks began to weaken in May, however, after Fed Chairman Ben Bernanke announced that the agency might reduce that stimulus later in the year if the U.S. economy continued to improve. The Russell 3000 Index ended the second quarter up a modest 2.69%.
Small-cap issues, which outperformed the broad stock market by almost two percentage points, benefited from investors’ willingness to take on more risk during the period. Within the small-cap category, growth issues topped their value counterparts, 17.44% to 14.39%. (Returns by investment style and capitalization size are based on the Russell indexes.)
For the ten years ended June 30, 2013, the Russell 2000 Index posted an average annual gain of 9.53%, strongly outpacing the 7.81% average return of the Russell 3000 Index.
Stock choices lift the fund’s return above its benchmark’s
All ten industry sectors of the Russell 2000 Index produced positive results for the six months, and seven scored double-digit gains. The largest contributions came from three sizable sectors: consumer discretionary, information technology and financials, which rose 23.6%, 17.5% and 13.5%, respectively. Health care (up 20.8%) also pushed the benchmark higher. Together, these four sectors represented more than two-thirds of the benchmark’s total market capitalization on June 30, 2013. The weakest performance came from energy (up 8.3%) and materials (up 1.7%).
The fund outperformed its benchmark by nearly a percentage point on the strength of successful stock selections. These included overweight positions in drugstore chain Rite Aid, health care software provider Medidata Solutions, casino operator Boyd Gaming and Live Nation Entertainment. An out-of-benchmark investment in SVB Financial aided results as well.
These positive effects were partly offset by several stock choices that did not perform as expected, such as overweight holdings in wireless network provider Aruba Networks and Arch Coal. A nonbenchmark position in medical device maker Thoratec and the fund’s exclusion of Isis Pharmaceuticals also trimmed relative returns slightly.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 19
Small-Cap Equity Fund
Performance as of June 30, 2013
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Small-Cap Equity Fund |
10/28/2002 | 16.75 | % | 24.06 | % | 8.55 | % | 9.41 | % | |||||||||||
| Russell 2000® Index |
— | 15.86 | 24.21 | 8.77 | 9.53 | |||||||||||||||
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. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance may be lower.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Expense example
Six months ended June 30, 2013
| Small-Cap Equity Fund | Beginning account value (1/1/13) |
Ending account value (6/30/13) |
Expenses paid during period* (1/1/13–6/30/13) |
|||||||||
| Actual return |
$1,000.00 | $1,167.48 | $2.96 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,022.07 | 2.76 | |||||||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The fund’s annualized six-month expense ratio for that period was 0.55%. The expense charges of the fund may at times reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
20 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Small-Cap Equity Fund
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 21
Performance for the six months ended June 30, 2013
The Social Choice Equity Fund returned 16.06% for the period, compared with the 14.06% return of its benchmark, the Russell 3000® Index. For the one-year period ended June 30, 2013, the fund returned 24.57%, versus 21.46% for the index. The fund uses certain social criteria, while the benchmark does not.
Because of its social criteria, the fund did not invest in a number of stocks included in the Russell 3000 Index. The net effect of avoiding these companies was to help the fund outpace its benchmark by two percentage points.
The largest contributions to the fund’s outperformance came from the exclusion of the benchmark’s two largest stocks in terms of market capitalization at period-end: Exxon Mobil and Apple. Both underperformed the broad market during the period. Apple was hit particularly hard, falling 24.6%, as concerns about increased competition and slowing product innovation prompted a sell-off. Avoiding Philip Morris International also helped.
These positive effects were partly offset by the fund’s exclusion of Microsoft; the benchmark’s third-largest stock advanced 31.3% for the period. The absence of biotechnology company Celgene (up 49.1%) and two well-performing banking giants, Wells Fargo (up 22.6%) and JPMorgan Chase (up 21.6%), lowered relative returns as well.
Successful stock choices add further value
To compensate for the fund’s exclusion of some stocks of the Russell 3000 Index, its managers use quantitative (mathematical) modeling and other techniques in an attempt to match the overall investment characteristics of the portfolio with those of the index.
During the period, the fund’s return was enhanced by overweight positions in a number of biotechnology and health care stocks, such as Biogen Idec (up 47.0%), pharmaceutical giant Bristol-Myers Squibb (up 39.8%) and Gilead Sciences (up 39.6%). Health care stocks benefited, as clarity about health care reform lifted investor sentiment. An overweight stake in Hewlett-Packard, which surged 76.2%, also boosted results.
These positive contributions to relative performance more than offset detractions from other stocks, including overweight investments in three technology companies that lagged the market: Cognizant Solutions, Oracle and salesforce.com. An overweight in Royal Gold, which fell 48.0%, reduced relative returns slightly.
22 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Social Choice Equity Fund
Performance as of June 30, 2013
| Average annual | ||||||||||||||||||||
| Total return | total return | |||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Social Choice Equity Fund |
4/3/2000 | 16.06 | % | 24.57 | % | 7.57 | % | 7.97 | % | |||||||||||
| Russell 3000 Index |
— | 14.06 | 21.46 | 7.25 | 7.81 | |||||||||||||||
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. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance may be lower.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Expense example
Six months ended June 30, 2013
| Social Choice Equity Fund | Beginning account value (1/1/13) |
Ending account value |
Expenses paid during period* (1/1/13–6/30/13) |
|||||||||
| Actual return |
$1,000.00 | $1,160.55 | $1.18 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,023.70 | 1.10 | |||||||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The fund’s annualized six-month expense ratio for that period was 0.22%. The expense charges of the fund may at times reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 23
Social Choice Equity Fund
24 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Performance for the six months ended June 30, 2013
The Stock Index Fund returned 14.01% for the period, compared with the 14.06% return of its benchmark, the Russell 3000® Index. For the one-year period ended June 30, 2013, the fund returned 21.38%, versus 21.46% for the index.
For the six-month period, the fund’s return trailed that of its benchmark index primarily because of the effect of expenses. The fund’s return includes a deduction for expenses, while the benchmark’s does not. The fund had a risk profile similar to that of its benchmark.
During the first half of 2013, the broad U.S. stock market climbed 14.06%, as measured by the Russell 3000 Index. Most of the gains came in the first quarter, when the market rose 11.07%, partly on expectations that the Federal Reserve would maintain its stimulative policies. Stocks began to weaken in May, however, after Fed Chairman Ben Bernanke announced that the agency might reduce that stimulus later in the year if the U.S. economy continued to improve. The Russell 3000 Index ended the second quarter up a modest 2.69%.
For the first half of the year, small-cap stocks performed best, returning 15.86%, while mid- and large-cap issues gained 15.45% and 13.91%, respectively. Value stocks within the Russell 3000 outperformed their growth counterparts, 15.78% to 12.23%. (Returns by investment style and market capitalization are based on the Russell indexes.)
Financials propel the benchmark higher
For the period, all ten industry sectors of the Russell 3000 Index posted positive returns, with seven generating double-digit gains. The biggest contribution to performance came from the benchmark’s largest sector—financials—which earned 17.8%. Additional lift was provided by the sizable consumer discretionary and health care sectors, both of which advanced 20.4%. Industrials also posted a strong gain, rising 14.7%. Together, these four sectors constituted more than one-half of the benchmark’s market capitalization on June 30, 2013.
Amid the powerful market rally, materials rose just 2.4%, the weakest sector performance for the period. Concerns about slowing economic growth in China—a leading consumer of copper, coal and other raw materials—weighed on stocks in this sector.
Two of the five largest stocks in the Russell 3000 generated exceptional returns for the six-month period. Microsoft and Johnson & Johnson advanced 31.3% and 24.4%, respectively. General Electric (up 12.3%) and Exxon Mobil (up 5.8%) posted solid gains but trailed the broad market, while Apple lagged far behind with a –24.6% return.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 25
Stock Index Fund
Performance as of June 30, 2013
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Stock Index Fund |
1/4/1999 | 14.01 | % | 21.38 | % | 7.25 | % | 7.79 | % | |||||||||||
| Russell 3000® Index |
— | 14.06 | 21.46 | 7.25 | 7.81 | |||||||||||||||
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. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance may be lower.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Expense example
Six months ended June 30, 2013
| Stock Index Fund | Beginning account value (1/1/13) |
Ending account value (6/30/13) |
Expenses paid during period* (1/1/13–6/30/13) |
|||||||||
| Actual return |
$1,000.00 | $1,140.09 | $0.48 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,024.35 | 0.45 | |||||||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The fund’s annualized six-month expense ratio for that period was 0.09%. The expense charges of the fund may at times reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
26 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Stock Index Fund
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 27
Performance for the six months ended June 30, 2013
The International Equity Fund returned 3.37% for the period, compared with the 4.10% return of its benchmark, the MSCI EAFE Index. For the one-year period ended June 30, 2013, the fund returned 25.72%, versus 18.62% for the index.
After gaining 5.13% in the first quarter of 2013, foreign stocks, as measured by the EAFE index, posted a 0.98% loss in the second quarter on renewed concerns about Europe’s sovereign debt crisis. The index ended the six-month period in positive territory, but its return was far behind the 14.06% gain of U.S. issues, as measured by the Russell 3000® Index.
Japanese stocks—the largest segment of the index in terms of market capitalization at period-end—soared 16.6%, providing the largest contribution to the benchmark’s rise. A double-digit gain from Swiss equities also helped. Overall results, however, were constrained by underperformance from the sizable French, German and British markets. Losses in Australia and Spain also reduced results.
A stronger dollar reduced returns for U.S. investors: in terms of local currencies, the MSCI EAFE Index gained 11.01% for the six months.
Stock choices trim relative performance
Although the fund underperformed its benchmark for the six-month period, its return remained well ahead of the index’s for the twelve-month period. Recent performance was hampered by unfavorable stock selections. Among the largest detractors were overweight positions in German chemical producer Lanxess and British cruise ship operator Carnival. An out-of-benchmark investment in China’s Anhui Conch Cement Company also trimmed returns.
These negative effects were partly offset by successful stock choices, including overweight positions in Japanese camera maker Olympus, German drug maker Bayer and French auto manufacturer Renault. A nonbenchmark investment in British industrial conglomerate Essentra helped relative performance as well.
The fund’s returns may sometimes diverge from the returns of its benchmark index more than would be expected. This divergence may be the result of the fund’s fair value pricing adjustments or of the timing of foreign currency valuations. Many foreign exchanges close for trading before the fund’s net asset value (NAV) is calculated (generally 4 p.m. ET). In the intervening hours, the values of foreign securities can change, and these changes are not reflected immediately in the returns of the fund’s benchmark. These changes, are, however, taken into account to value the fund’s portfolio holdings at the time the fund’s NAV is calculated; these are known as fair value pricing adjustments.
28 2013 Semiannual Report ¡ TIAA-CREF Life Funds
International Equity Fund
Performance as of June 30, 2013
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| International Equity Fund |
4/3/2000 | 3.37 | % | 25.72 | % | –0.14 | % | 8.23 | % | |||||||||||
| MSCI EAFE Index |
— | 4.10 | 18.62 | –0.63 | 7.67 | |||||||||||||||
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. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance may be lower.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Expense example
Six months ended June 30, 2013
| International Equity Fund | Beginning account value (1/1/13) |
Ending account value (6/30/13) |
Expenses paid during period* (1/1/13–6/30/13) |
|||||||||
| Actual return |
$1,000.00 | $1,033.73 | $3.03 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,021.82 | 3.01 | |||||||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The fund’s annualized six-month expense ratio for that period was 0.60%. The expense charges of the fund may at times reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 29
International Equity Fund
30 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Performance for the six months ended June 30, 2013
The Bond Fund returned –2.75% for the period, compared with the –2.44% return of its benchmark, the Barclays U.S. Aggregate Bond Index. For the one-year period ended June 30, 2013, the fund returned 0.63%, versus –0.69% for the index.
Despite signs of slowing global growth, investors were encouraged by the Federal Reserve’s efforts to boost the U.S. economy and by similar steps taken by the central banks of Europe and Japan.
The Federal Reserve continued its unprecedented, large-scale purchases of U.S. Treasury and agency securities, seeking to keep long-term interest rates low in order to stimulate borrowing and spending. As unemployment fell slightly and the housing market gained strength, many investors moved from low-yielding, high-quality bonds into stocks and lower-grade fixed-income securities. As a result, the investment-grade, fixed-rate bonds that comprise the Barclays U.S. Aggregate Bond Index returned –0.12% for the first quarter of 2013.
In the second quarter, investors worried that the Fed’s accommodative policies would soon end. When the Fed seemed to confirm these fears in late May, both stocks and bonds sold off, and the fund’s benchmark fell 2.32%.
Declining corporate bonds weigh on the benchmark
All major sectors of the Barclays aggregate index lost ground for the six months, but corporate bonds posted the worst performance—they returned –3.4%—because their prices dropped sharply in the second quarter. Part of the decline in prices was cushioned by the bonds’ interest payments. Corporates made up about one-fifth of the total market capitalization of the index at period’s end.
U.S. Treasuries, the benchmark’s largest sector, returned –2.1%. Falling bond prices pushed yields on 10-year Treasuries up from 1.78% at year-end 2012 to 2.52% on June 30, 2013.
U.S. mortgage-backed securities, which made up almost one-third of the index, returned –2.0% for the period. U.S. agency, commercial mortgage-backed and asset-backed securities posted results of –1.9%, –1.3% and –0.8%, respectively.
The fund lagged its benchmark primarily because of overweight positions in corporate securities. Its holdings in investment-grade bonds and emerging market securities were particularly hard hit.
The negative effects of these positions were partly offset by positive effects from the fund’s holdings in U.S. Treasury securities, which outperformed the Barclays aggregate index for the period. Higher relative returns among some of the fund’s government-related securities also helped.
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 31
Bond Fund
Performance as of June 30, 2013
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | since inception |
||||||||||||||||
| Bond Fund |
7/8/2003 | –2.75 | % | 0.63 | % | 4.99 | % | 4.25 | % | |||||||||||
| Barclays U.S. Aggregate Bond Index |
— | –2.44 | –0.69 | 5.19 | 4.59 | |||||||||||||||
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. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance may be lower.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Expense example
Six months ended June 30, 2013
| Bond Fund | Beginning account value (1/1/13) |
Ending account value (6/30/13) |
Expenses paid during period* (1/1/13–6/30/13) |
|||||||||
| Actual return |
$1,000.00 | $ 972.47 | $1.71 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,023.06 | 1.76 | |||||||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The fund’s annualized six-month expense ratio for that period was 0.35%. The expense charges of the fund may at times reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
32 2013 Semiannual Report ¡ TIAA-CREF Life Funds
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 33
Money Market Fund
Performance for the six months ended June 30, 2013
The Money Market Fund returned 0.01% for the period, matching the 0.01% return of the iMoneyNet Money Fund Report Averages™—All Taxable, a simple average of over 1,000 taxable money market funds. The iMoneyNet average is not an index, and its return reflects the deduction of expenses charged by the funds included in the average.
During the period, the U.S. economy strengthened, though the pace was modest. While home prices rose and business investment increased, the growth in job creation failed to put a significant dent in the unemployment rate.
As a result, the Federal Reserve continued its large-scale purchases of U.S. Treasury and agency securities, seeking to keep long-term interest rates low in order to stimulate economic activity. The Fed also kept short-term rates low by maintaining its target federal funds rate (the interest rate U.S. commercial banks charge one another for overnight loans) within a range of 0% to 0.25%.
Falling short-term yields pinch money market returns
Midway through the period, the issuance of U.S. Treasury and agency securities was significantly curtailed when budget cuts and higher-than-expected tax receipts reduced the federal government’s borrowing needs. With these securities in short supply, their prices rose, driving down their yields. The yield on six-month Treasuries declined, from 0.11% on December 31, 2012, to 0.10% six months later.
LIBOR yields also fell slightly; the three-month rate dropped from 0.31% to 0.27%. (LIBOR is a widely used indicator of the interest rates that banks expect to pay to other banks for loans on the London market.) Following discovery of its manipulation by several major banks, regulators sought, during the period, to improve LIBOR’s reliability.
In pursuit of relative value and to comply with SEC regulations, the fund kept more than half of its portfolio in U.S. Treasury and agency securities. Faced with a challenging market, the fund’s managers continued to purchase, where advantageous, U.S. government floating-rate securities, whose longer maturities offered incrementally higher yields. The fund also increased its holdings in high-quality Canadian and Australian banks. On June 25, 2013, the fund’s weighted average maturity was 53 days, versus 49 days for the average iMoneyNet fund.
In response to exceptionally low interest rates, part or all of the fund’s investment management fees were voluntarily waived during the period to prevent the fund’s yield from turning negative.
34 2013 Semiannual Report ¡ TIAA-CREF Life Funds
Net annualized yield for the 7 days ended June 25, 2013*
| Current yield | Effective yield | |||||||
| Money Market Fund† |
0.00 | % | 0.00 | % | ||||
| iMoneyNet Money Fund Report Averages—All Taxable‡ |
0.01 | 0.01 | ||||||
The current yield more closely reflects current earnings than does the total return.
| * | Typically, iMoneyNet reports its 7-day yields as of Tuesday of each week. |
Performance as of June 30, 2013
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | since inception |
||||||||||||||||
| Money Market Fund† |
7/8/2003 | 0.01 | % | 0.02 | % | 0.38 | % | 1.89 | % | |||||||||||
| iMoneyNet Money Fund Report Averages—All Taxable‡ |
— | 0.01 | 0.02 | 0.21 | 1.52 | § | ||||||||||||||
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. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your shares. For current performance information, including performance to the most recent month-end, please visit tiaa-cref.org. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance may be lower.
Investments in the TIAA-CREF Life Money Market Fund are neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund. For a detailed discussion of risk, please see the prospectus.
| † | Beginning May 29, 2013, part or all of the investment management fees of the TIAA-CREF Life Money Market Fund are being voluntarily waived. Without this waiver, the total returns and 7-day current and effective net annualized yields would have been lower. This voluntary fee waiver may be discontinued at any time without notice. |
| ‡ | The iMoneyNet Money Fund Report Averages—All Taxable category is a simple average of over 1,000 taxable money market funds. You cannot invest in it directly. |
| § | The performance above is computed from August 2003 because the iMoneyNet return is calculated only on a monthly basis. |
TIAA-CREF Life Funds ¡ 2013 Semiannual Report 35
Money Market Fund
Expense example
Six months ended June 30, 2013
| Money Market Fund | Beginning account value (1/1/13) |
Ending account value (6/30/13) |
Expenses paid during period* (1/1/13–6/30/13) |
|||||||||
| Actual return |
$1,000.00 | $1,000.05 | $0.74 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,024.05 | 0.75 | |||||||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The fund’s annualized six-month expense ratio for that period was 0.15%. The expense charges of the fund may at times reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without such reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
Portfolio composition
| % of net assets as of 6/30/2013 |
||||
| Commercial paper |
39.6 | |||
| U.S. government agency securities |
31.7 | |||
| U.S. Treasury securities |
17.3 | |||
| Floating rate securities, government |
6.4 | |||
| Certificates of deposit |
2.3 | |||
| Other assets & liabilities, net |
2.7 | |||
|
Total |
|
100.0 |
| |
36 2013 Semiannual Report ¡ TIAA-CREF Life Funds
| Summary portfolio of investments (unaudited) |
Growth Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | ||||||||||||||||
| 14,670 | Delphi Automotive plc | $ | 743,622 | 1.6 | % | |||||||||||
| Other | 278,686 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,022,308 | 2.2 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 8,234 | Boeing Co | 843,491 | 1.8 | |||||||||||||
| 3,942 | Cummins, Inc | 427,550 | 0.9 | |||||||||||||
| 4,722 | Precision Castparts Corp | 1,067,219 | 2.3 | |||||||||||||
| 3,395 | Roper Industries, Inc | 421,727 | 0.9 | |||||||||||||
| 3,240 | W.W. Grainger, Inc | 817,063 | 1.7 | |||||||||||||
| Other | 220,384 | 0.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,797,434 | 8.1 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | ||||||||||||||||
| 13,108 | * | Nielsen Holdings NV | 440,298 | 0.9 | ||||||||||||
| 8,433 | * | Verisk Analytics, Inc | 503,450 | 1.1 | ||||||||||||
|
|
|
|||||||||||||||
| 943,748 | 2.0 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | ||||||||||||||||
| 8,469 | Luxottica Group S.p.A. | 428,492 | 0.9 | |||||||||||||
| 3,040 | LVMH Moet Hennessy Louis Vuitton S.A. | 493,557 | 1.0 | |||||||||||||
| 10,455 | Nike, Inc (Class B) | 665,774 | 1.4 | |||||||||||||
| Other | 547,830 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,135,653 | 4.5 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | ||||||||||||||||
| 16,299 | Las Vegas Sands Corp | 862,706 | 1.8 | |||||||||||||
| 14,776 | Starbucks Corp | 967,680 | 2.1 | |||||||||||||
| Other | 468,588 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,298,974 | 4.9 | |||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 20,923 | Blackstone Group LP | 440,638 | 1.0 | |||||||||||||
| 2,743 | * | IntercontinentalExchange, Inc | 487,596 | 1.0 | ||||||||||||
| 7,072 | Moody’s Corp | 430,897 | 0.9 | |||||||||||||
| Other | 1,043,114 | 2.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,402,245 | 5.1 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 10,789 | Halliburton Co | 450,117 | 1.0 | |||||||||||||
| Other | 750,688 | 1.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,200,805 | 2.6 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | 246,422 | 0.5 | ||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 672,320 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||||
| 2,764 | L’Oreal S.A. | 454,358 | 0.9 | |||||||||||||
| Other | 408,929 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 863,287 | 1.8 | |||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 37 |
| Summary portfolio of investments (unaudited) | continued |
Growth Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| MATERIALS | ||||||||||||||||
| 13,766 | Monsanto Co | $ | 1,360,081 | 2.9 | % | |||||||||||
| 2,344 | Sherwin-Williams Co | 413,950 | 0.9 | |||||||||||||
| Other | 545,510 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,319,541 | 4.9 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 11,417 | Comcast Corp (Class A) | 478,144 | 1.0 | |||||||||||||
| 9,114 | * | Discovery Communications, Inc (Class A) | 703,692 | 1.5 | ||||||||||||
| 10,173 | Walt Disney Co | 642,425 | 1.4 | |||||||||||||
| Other | 338,174 | 0.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,162,435 | 4.6 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 6,448 | * | Biogen Idec, Inc | 1,387,610 | 2.9 | ||||||||||||
| 9,990 | Bristol-Myers Squibb Co | 446,453 | 1.0 | |||||||||||||
| 7,780 | * | Celgene Corp | 909,560 | 1.9 | ||||||||||||
| 26,836 | * | Gilead Sciences, Inc | 1,374,272 | 2.9 | ||||||||||||
| 8,074 | *,e | Illumina, Inc | 604,258 | 1.3 | ||||||||||||
| 8,017 | Perrigo Co | 970,057 | 2.1 | |||||||||||||
| 1,778 | Roche Holding AG. | 441,294 | 0.9 | |||||||||||||
| 13,680 | Zoetis Inc | 422,575 | 0.9 | |||||||||||||
| Other | 882,449 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,438,528 | 15.8 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | ||||||||||||||||
| 8,688 | * | Realogy Holdings Corp | 417,372 | 0.9 | ||||||||||||
| Other | 138,436 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 555,808 | 1.2 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| 4,740 | * | Amazon.com, Inc | 1,316,250 | 2.8 | ||||||||||||
| 10,087 | * | Carmax, Inc | 465,616 | 1.0 | ||||||||||||
| 8,022 | Expedia, Inc | 482,523 | 1.0 | |||||||||||||
| 9,676 | Home Depot, Inc | 749,600 | 1.6 | |||||||||||||
| Other | 625,267 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,639,256 | 7.7 | |||||||||||||||
|
|
|
|||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||||
| 10,903 | Xilinx, Inc | 431,868 | 0.9 | |||||||||||||
| Other | 1,197,083 | 2.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,628,951 | 3.5 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 21,819 | * | Adobe Systems, Inc | 994,074 | 2.1 | ||||||||||||
| 21,576 | * | eBay, Inc | 1,115,911 | 2.4 | ||||||||||||
| 18,608 | * | Facebook, Inc | 462,595 | 1.0 | ||||||||||||
| 1,832 | * | Google, Inc (Class A) | 1,612,838 | 3.4 | ||||||||||||
| 22,542 | Intuit, Inc | 1,375,738 | 2.9 | |||||||||||||
| 1,600 | Mastercard, Inc (Class A) | 919,200 | 2.0 | |||||||||||||
| 13,928 | * | Red Hat, Inc | 666,037 | 1.4 | ||||||||||||
| 38 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
Growth Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| SOFTWARE & SERVICES—continued | ||||||||||||||||
| 8,284 | * | Teradata Corp | $ | 416,105 | 0.9 | % | ||||||||||
| 7,799 | Visa, Inc (Class A) | 1,425,267 | 3.0 | |||||||||||||
| Other | 627,117 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 9,614,882 | 20.4 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 2,646 | Apple, Inc | 1,048,028 | 2.2 | |||||||||||||
| Other | 1,034,705 | 2.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,082,733 | 4.4 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 24,688 | * | Hertz Global Holdings, Inc | 612,263 | 1.3 | ||||||||||||
| 7,893 | Kansas City Southern Industries, Inc | 836,342 | 1.8 | |||||||||||||
|
|
|
|||||||||||||||
| 1,448,605 | 3.1 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $40,497,109) | 46,473,935 | 98.7 | |||||||||||||
|
|
|
|||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 611,465 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | 611,465 | 1.3 | ||||||||||||
|
|
|
|||||||||||||||
| 611,465 | 1.3 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $611,465) | 611,465 | 1.3 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $41,108,574) | 47,085,400 | 100.0 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | 12,236 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 47,097,636 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| * | Non-income producing. |
| c | Investments made with cash collateral received from securities on loan. |
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan, including those in “other,” is $598,196. |
“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.
For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 39 |
| Summary portfolio of investments (unaudited) |
Growth & Income Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | ||||||||||||||||
| 14,863 | Delphi Automotive plc | $ | 753,405 | 0.7 | % | |||||||||||
| Other | 127,949 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 881,354 | 0.8 | |||||||||||||||
|
|
|
|||||||||||||||
| BANKS | ||||||||||||||||
| 42,928 | Wells Fargo & Co | 1,771,638 | 1.6 | |||||||||||||
| Other | 857,238 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,628,876 | 2.4 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 84,155 | General Electric Co | 1,951,555 | 1.8 | |||||||||||||
| 19,304 | Honeywell International, Inc | 1,531,579 | 1.4 | |||||||||||||
| 3,263 | Precision Castparts Corp | 737,471 | 0.7 | |||||||||||||
| Other | 3,883,470 | 3.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 8,104,075 | 7.5 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 743,268 | 0.7 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | 2,304,451 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | 1,479,915 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 9,722 | American Express Co | 726,817 | 0.7 | |||||||||||||
| 125,499 | Bank of America Corp | 1,613,917 | 1.5 | |||||||||||||
| 39,663 | Citigroup, Inc | 1,902,634 | 1.7 | |||||||||||||
| 17,703 | Discover Financial Services | 843,371 | 0.8 | |||||||||||||
| 32,958 | Morgan Stanley | 805,164 | 0.7 | |||||||||||||
| 14,045 | State Street Corp | 915,874 | 0.8 | |||||||||||||
| Other | 932,211 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,739,988 | 7.1 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 13,244 | Anadarko Petroleum Corp | 1,138,057 | 1.0 | |||||||||||||
| 20,797 | Chevron Corp | 2,461,117 | 2.3 | |||||||||||||
| 5,700 | EOG Resources, Inc | 750,576 | 0.7 | |||||||||||||
| 20,087 | Exxon Mobil Corp | 1,814,860 | 1.7 | |||||||||||||
| 26,046 | Halliburton Co | 1,086,639 | 1.0 | |||||||||||||
| 20,836 | Marathon Oil Corp | 720,509 | 0.6 | |||||||||||||
| Other | 3,147,209 | 2.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 11,118,967 | 10.2 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING | ||||||||||||||||
| 9,613 | Wal-Mart Stores, Inc | 716,072 | 0.7 | |||||||||||||
| Other | 544,447 | 0.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,260,519 | 1.2 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||||
| 22,951 | Altria Group, Inc | 803,055 | 0.7 | |||||||||||||
| 17,901 | Campbell Soup Co | 801,786 | 0.7 | |||||||||||||
| 8,899 | Hershey Co | 794,503 | 0.7 | |||||||||||||
| 40 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Growth & Income Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| FOOD, BEVERAGE & TOBACCO—continued | ||||||||||||||||
| 23,332 | PepsiCo, Inc | $ | 1,908,324 | 1.8 | % | |||||||||||
| Other | 4,220,581 | 3.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 8,528,249 | 7.8 | |||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | ||||||||||||||||
| 18,000 | Aetna, Inc | 1,143,720 | 1.1 | |||||||||||||
| 20,925 | Medtronic, Inc | 1,077,010 | 1.0 | |||||||||||||
| Other | 911,626 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,132,356 | 2.9 | |||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||||
| 17,548 | Procter & Gamble Co | 1,351,021 | 1.3 | |||||||||||||
| Other | 890,793 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,241,814 | 2.1 | |||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | ||||||||||||||||
| 12,603 | ACE Ltd | 1,127,716 | 1.0 | |||||||||||||
| 8,462 | * | Berkshire Hathaway, Inc (Class B) | 947,067 | 0.9 | ||||||||||||
| 30,303 | Hartford Financial Services Group, Inc | 936,969 | 0.9 | |||||||||||||
| 21,306 | Metlife, Inc | 974,963 | 0.9 | |||||||||||||
| Other | 435,512 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,422,227 | 4.1 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | ||||||||||||||||
| 16,999 | International Paper Co | 753,226 | 0.7 | |||||||||||||
| 12,525 | d | Monsanto Co | 1,237,470 | 1.1 | ||||||||||||
| Other | 2,225,571 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,216,267 | 3.9 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 28,016 | Comcast Corp (Class A) | 1,173,310 | 1.1 | |||||||||||||
| 13,860 | Time Warner, Inc | 801,385 | 0.7 | |||||||||||||
| 12,998 | Viacom, Inc (Class B) | 884,514 | 0.8 | |||||||||||||
| 12,144 | Walt Disney Co | 766,894 | 0.7 | |||||||||||||
| Other | 1,264,159 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,890,262 | 4.5 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 8,002 | Amgen, Inc | 789,477 | 0.7 | |||||||||||||
| 29,636 | * | Gilead Sciences, Inc | 1,517,660 | 1.4 | ||||||||||||
| 21,113 | Johnson & Johnson | 1,812,762 | 1.7 | |||||||||||||
| 27,091 | Merck & Co, Inc | 1,258,377 | 1.1 | |||||||||||||
| 48,967 | Pfizer, Inc | 1,371,566 | 1.3 | |||||||||||||
| Other | 6,006,145 | 5.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 12,755,987 | 11.7 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | 898,933 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| 21,619 | Home Depot, Inc | 1,674,824 | 1.5 | |||||||||||||
| 15,024 | Macy’s, Inc | 721,152 | 0.7 | |||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 41 |
| Summary portfolio of investments (unaudited) | concluded |
Growth & Income Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| RETAILING—continued | ||||||||||||||||
| 16,237 | TJX Companies, Inc | $ | 812,824 | 0.8 | % | |||||||||||
| Other | 3,376,707 | 3.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 6,585,507 | 6.1 | |||||||||||||||
|
|
|
|||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 2,458,235 | 2.2 | ||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 2,529 | *,d | Google, Inc (Class A) | 2,226,456 | 2.0 | ||||||||||||
| 49,961 | Microsoft Corp | 1,725,153 | 1.6 | |||||||||||||
| 28,221 | Oracle Corp | 866,949 | 0.8 | |||||||||||||
| Other | 3,163,220 | 2.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,981,778 | 7.3 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 6,857 | Apple, Inc | 2,715,921 | 2.5 | |||||||||||||
| 79,108 | Cisco Systems, Inc | 1,923,115 | 1.8 | |||||||||||||
| Other | 2,888,151 | 2.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,527,187 | 6.9 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | ||||||||||||||||
| 34,493 | Verizon Communications, Inc | 1,736,378 | 1.6 | |||||||||||||
|
|
|
|||||||||||||||
| 1,736,378 | 1.6 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | 2,235,022 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | 2,410,867 | 2.2 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $89,870,820) | 108,282,482 | 99.6 | |||||||||||||
|
|
|
|||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 1,672,764 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | 1,672,764 | 1.5 | ||||||||||||
|
|
|
|||||||||||||||
| 1,672,764 | 1.5 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $1,672,764) | 1,672,764 | 1.5 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $91,543,584) | 109,955,246 | 101.1 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (1,275,886 | ) | (1.1 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 108,679,360 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| * | Non-income producing. |
| c | Investments made with cash collateral received from securities on loan. |
| d | All or a portion of these securities have been segregated to cover margin requirements on open written options contracts. |
The aggregate value of securities on loan is $1,630,547.
“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.
For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.
| 42 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) |
Large-Cap Value Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | $ | 462,398 | 0.5 | % | ||||||||||||
|
|
|
|||||||||||||||
| BANKS | ||||||||||||||||
| 54,866 | Wells Fargo & Co | 2,264,320 | 2.6 | |||||||||||||
| Other | 1,564,672 | 1.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,828,992 | 4.4 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 6,300 | Boeing Co | 645,372 | 0.7 | |||||||||||||
| 9,702 | General Dynamics Corp | 759,957 | 0.9 | |||||||||||||
| 141,357 | General Electric Co | 3,278,069 | 3.8 | |||||||||||||
| Other | 1,615,480 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 6,298,878 | 7.3 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 363,033 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | 839,853 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | ||||||||||||||||
| 25,454 | Carnival Corp | 872,818 | 1.0 | |||||||||||||
| 9,974 | Las Vegas Sands Corp | 527,924 | 0.6 | |||||||||||||
| 11,085 | * | Penn National Gaming, Inc | 585,953 | 0.7 | ||||||||||||
| Other | 723,655 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,710,350 | 3.1 | |||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 121,562 | Bank of America Corp | 1,563,287 | 1.8 | |||||||||||||
| 41,488 | Citigroup, Inc | 1,990,180 | 2.3 | |||||||||||||
| 21,252 | JPMorgan Chase & Co | 1,121,893 | 1.3 | |||||||||||||
| 16,187 | Legg Mason, Inc | 501,959 | 0.6 | |||||||||||||
| 35,050 | Morgan Stanley | 856,272 | 1.0 | |||||||||||||
| 10,982 | State Street Corp | 716,136 | 0.8 | |||||||||||||
| Other | 1,038,368 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,788,095 | 9.0 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 5,980 | Anadarko Petroleum Corp | 513,861 | 0.6 | |||||||||||||
| 20,031 | Baker Hughes, Inc | 924,030 | 1.1 | |||||||||||||
| 15,756 | Chevron Corp | 1,864,565 | 2.1 | |||||||||||||
| 12,980 | ConocoPhillips | 785,290 | 0.9 | |||||||||||||
| 25,187 | Exxon Mobil Corp | 2,275,645 | 2.6 | |||||||||||||
| 10,750 | Occidental Petroleum Corp | 959,222 | 1.1 | |||||||||||||
| 15,943 | Spectra Energy Corp | 549,396 | 0.6 | |||||||||||||
| 47,851 | * | Weatherford International Ltd | 655,559 | 0.8 | ||||||||||||
| 15,497 | Williams Cos, Inc | 503,188 | 0.6 | |||||||||||||
| Other | 3,384,299 | 3.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 12,415,055 | 14.3 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING | 343,839 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 43 |
| Summary portfolio of investments (unaudited) | continued |
Large-Cap Value Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||||
| 17,818 | Mondelez International, Inc | $ | 508,348 | 0.6 | % | |||||||||||
| Other | 1,249,911 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,758,259 | 2.0 | |||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | ||||||||||||||||
| 13,799 | * | Express Scripts Holding Co | 851,260 | 1.0 | ||||||||||||
| 13,885 | Medtronic, Inc | 714,661 | 0.8 | |||||||||||||
| 16,875 | UnitedHealth Group, Inc | 1,104,975 | 1.3 | |||||||||||||
| 7,454 | WellPoint, Inc | 610,036 | 0.7 | |||||||||||||
| Other | 1,483,267 | 1.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,764,199 | 5.5 | |||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||||
| 20,052 | Procter & Gamble Co | 1,543,803 | 1.8 | |||||||||||||
| Other | 1,141,223 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,685,026 | 3.1 | |||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | ||||||||||||||||
| 8,359 | ACE Ltd | 747,963 | 0.9 | |||||||||||||
| 16,335 | * | American International Group, Inc | 730,175 | 0.8 | ||||||||||||
| 8,313 | * | Berkshire Hathaway, Inc (Class B) | 930,391 | 1.1 | ||||||||||||
| 16,165 | Metlife, Inc | 739,710 | 0.8 | |||||||||||||
| 6,532 | Travelers Cos, Inc | 522,038 | 0.6 | |||||||||||||
| Other | 2,789,797 | 3.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 6,460,074 | 7.4 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | 2,742,539 | 3.2 | ||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 11,397 | Time Warner, Inc | 658,975 | 0.8 | |||||||||||||
| Other | 728,955 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,387,930 | 1.6 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 23,981 | Johnson & Johnson | 2,059,009 | 2.4 | |||||||||||||
| 38,433 | Merck & Co, Inc | 1,785,213 | 2.0 | |||||||||||||
| 52,546 | Pfizer, Inc | 1,471,813 | 1.7 | |||||||||||||
| 15,153 | Teva Pharmaceutical Industries Ltd (ADR) | 593,998 | 0.7 | |||||||||||||
| 16,561 | Zoetis Inc | 511,569 | 0.6 | |||||||||||||
| Other | 1,689,611 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 8,111,213 | 9.3 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | 2,816,213 | 3.2 | ||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| 33,254 | Staples, Inc | 527,409 | 0.6 | |||||||||||||
| Other | 1,706,690 | 2.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,234,099 | 2.6 | |||||||||||||||
|
|
|
|||||||||||||||
| 44 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Large-Cap Value Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||||
| 17,350 | Broadcom Corp (Class A) | $ | 585,736 | 0.7 | % | |||||||||||
| Other | 1,731,334 | 2.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,317,070 | 2.7 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 21,183 | * | Yahoo!, Inc | 531,905 | 0.6 | ||||||||||||
| Other | 1,224,417 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,756,322 | 2.0 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 2,390 | Apple, Inc | 946,631 | 1.1 | |||||||||||||
| 72,509 | Cisco Systems, Inc | 1,762,694 | 2.0 | |||||||||||||
| 25,731 | Hewlett-Packard Co | 638,129 | 0.7 | |||||||||||||
| Other | 921,861 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,269,315 | 4.9 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | ||||||||||||||||
| 60,534 | AT&T, Inc | 2,142,904 | 2.5 | |||||||||||||
| Other | 264,364 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,407,268 | 2.8 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 7,359 | FedEx Corp | 725,450 | 0.8 | |||||||||||||
| Other | 1,168,839 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,894,289 | 2.2 | |||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | ||||||||||||||||
| 10,831 | Entergy Corp | 754,704 | 0.9 | |||||||||||||
| 16,293 | Exelon Corp | 503,128 | 0.6 | |||||||||||||
| Other | 3,132,078 | 3.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,389,910 | 5.1 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $76,179,230) | 85,044,219 | 98.0 | |||||||||||||
|
|
|
|||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 2,379,052 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | 2,379,052 | 2.7 | ||||||||||||
|
|
|
|||||||||||||||
| 2,379,052 | 2.7 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $2,379,052) | 2,379,052 | 2.7 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $78,558,282) | 87,423,271 | 100.7 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (647,417 | ) | (0.7 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 86,775,854 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 45 |
| Summary portfolio of investments (unaudited) | concluded |
Large-Cap Value Fund § June 30, 2013
ABBREVIATION(S):
ADR American Depositary Receipt
| * | Non-income producing. |
| c | Investments made with cash collateral received from securities on loan. |
The aggregate value of securities on loan is $2,316,125.
“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.
For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.
| 46 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) |
Real Estate Securities Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| CASINOS & GAMING | $ | 264,300 | 0.3 | % | ||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED REAL ESTATE ACTIVITIES | 324,935 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED REITS | ||||||||||||||||
| 35,000 | Retail Opportunities Investment Corp | 486,500 | 0.5 | |||||||||||||
| 30,000 | Spirit Realty Capital, Inc | 531,600 | 0.5 | |||||||||||||
| 14,000 | Vornado Realty Trust | 1,159,900 | 1.1 | |||||||||||||
| 7,000 | WP Carey, Inc | 463,190 | 0.5 | |||||||||||||
| Other | 311,800 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,952,990 | 2.9 | |||||||||||||||
|
|
|
|||||||||||||||
| HOMEBUILDING | ||||||||||||||||
| 25,000 | DR Horton, Inc | 532,000 | 0.5 | |||||||||||||
| 15,000 | Lennar Corp (Class A) | 540,600 | 0.5 | |||||||||||||
| 15,000 | * | Meritage Homes Corp | 650,400 | 0.6 | ||||||||||||
| 105,000 | * | Standard-Pacific Corp | 874,650 | 1.0 | ||||||||||||
| 20,000 | * | Toll Brothers, Inc | 652,600 | 0.6 | ||||||||||||
| 25,000 | * | TRI Pointe Homes, Inc | 414,500 | 0.4 | ||||||||||||
| Other | 300,750 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,965,500 | 3.9 | |||||||||||||||
|
|
|
|||||||||||||||
| HOTELS, RESORTS & CRUISE LINES | ||||||||||||||||
| 8,000 | Starwood Hotels & Resorts Worldwide, Inc | 505,520 | 0.5 | |||||||||||||
| Other | 364,800 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 870,320 | 0.9 | |||||||||||||||
|
|
|
|||||||||||||||
| INDUSTRIAL REITS | ||||||||||||||||
| 18,000 | EastGroup Properties, Inc | 1,012,860 | 1.0 | |||||||||||||
| 135,000 | Prologis, Inc | 5,092,200 | 5.0 | |||||||||||||
| Other | 993,890 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,098,950 | 7.0 | |||||||||||||||
|
|
|
|||||||||||||||
| OFFICE REITS | ||||||||||||||||
| 38,000 | Boston Properties, Inc | 4,007,860 | 4.0 | |||||||||||||
| 15,000 | Digital Realty Trust, Inc | 915,000 | 0.9 | |||||||||||||
| 40,000 | HRPT Properties Trust | 924,800 | 0.9 | |||||||||||||
| 15,000 | Kilroy Realty Corp | 795,150 | 0.8 | |||||||||||||
| 26,000 | Parkway Properties, Inc | 435,760 | 0.4 | |||||||||||||
| 30,000 | SL Green Realty Corp | 2,645,700 | 2.6 | |||||||||||||
|
|
|
|||||||||||||||
| 9,724,270 | 9.6 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE OPERATING COMPANIES | ||||||||||||||||
| 341,116 | Thomas Properties Group, Inc | 1,807,914 | 1.8 | |||||||||||||
| Other | 394,020 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,201,934 | 2.2 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE SERVICES | 384,320 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 47 |
| Summary portfolio of investments (unaudited) | continued |
Real Estate Securities Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| RESIDENTIAL REITS | ||||||||||||||||
| 50,000 | American Campus Communities, Inc | $ | 2,033,000 | 2.0 | % | |||||||||||
| 50,000 | Apartment Investment & Management Co (Class A) | 1,502,000 | 1.5 | |||||||||||||
| 20,000 | AvalonBay Communities, Inc | 2,698,200 | 2.7 | |||||||||||||
| 35,000 | Camden Property Trust | 2,419,900 | 2.4 | |||||||||||||
| 13,000 | Equity Lifestyle Properties, Inc | 1,021,670 | 1.0 | |||||||||||||
| 90,000 | Equity Residential | 5,225,400 | 5.1 | |||||||||||||
| 6,000 | Essex Property Trust, Inc | 953,520 | 0.9 | |||||||||||||
| 35,000 | Post Properties, Inc | 1,732,150 | 1.7 | |||||||||||||
| Other | 684,900 | 0.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 18,270,740 | 18.0 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAIL REITS | ||||||||||||||||
| 105,000 | DDR Corp | 1,748,250 | 1.7 | |||||||||||||
| 40,000 | Equity One, Inc | 905,200 | 0.9 | |||||||||||||
| 15,000 | Federal Realty Investment Trust | 1,555,200 | 1.5 | |||||||||||||
| 185,000 | General Growth Properties, Inc | 3,675,950 | 3.6 | |||||||||||||
| 23,000 | Realty Income Corp | 964,160 | 1.0 | |||||||||||||
| 21,000 | Regency Centers Corp | 1,067,010 | 1.1 | |||||||||||||
| 75,000 | Simon Property Group, Inc | 11,844,000 | 11.7 | |||||||||||||
| 11,000 | Taubman Centers, Inc | 826,650 | 0.8 | |||||||||||||
| Other | 334,600 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 22,921,020 | 22.6 | |||||||||||||||
|
|
|
|||||||||||||||
| SECURITY & ALARM SERVICES | ||||||||||||||||
| 30,000 | Corrections Corp of America | 1,016,100 | 1.0 | |||||||||||||
| Other | 373,450 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,389,550 | 1.4 | |||||||||||||||
|
|
|
|||||||||||||||
| SPECIALIZED REITS | ||||||||||||||||
| 70,000 | American Tower Corp | 5,121,900 | 5.0 | |||||||||||||
| 35,000 | CubeSmart | 559,300 | 0.6 | |||||||||||||
| 30,000 | Extra Space Storage, Inc | 1,257,900 | 1.2 | |||||||||||||
| 90,000 | HCP, Inc | 4,089,600 | 4.1 | |||||||||||||
| 47,000 | Health Care REIT, Inc | 3,150,410 | 3.1 | |||||||||||||
| 25,000 | Healthcare Realty Trust, Inc | 637,500 | 0.6 | |||||||||||||
| 130,000 | Host Marriott Corp | 2,193,100 | 2.1 | |||||||||||||
| 10,000 | Plum Creek Timber Co, Inc | 466,700 | 0.5 | |||||||||||||
| 24,000 | Public Storage, Inc | 3,679,920 | 3.6 | |||||||||||||
| 115,000 | * | Strategic Hotels & Resorts, Inc | 1,018,900 | 1.0 | ||||||||||||
| 55,000 | * | Sunstone Hotel Investors, Inc | 664,400 | 0.7 | ||||||||||||
| 44,000 | Ventas, Inc | 3,056,240 | 3.0 | |||||||||||||
| 75,000 | Weyerhaeuser Co | 2,136,750 | 2.1 | |||||||||||||
| Other | 1,633,900 | 1.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 29,666,520 | 29.2 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $88,542,088) | 100,035,349 | 98.7 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $88,542,088) | 100,035,349 | 98.7 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | 1,302,091 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 101,337,440 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| 48 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
Real Estate Securities Fund § June 30, 2013
ABBREVIATION(S):
REIT Real Estate Investment Trust
| * | Non-income producing. |
“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.
For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 49 |
| Summary portfolio of investments (unaudited) |
Small-Cap Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | ||||||||||||||||
| 11,169 | Dana Holding Corp | $ | 215,115 | 0.6 | % | |||||||||||
| 6,159 | * | Tenneco, Inc | 278,880 | 0.7 | ||||||||||||
| Other | 83,193 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 577,188 | 1.5 | |||||||||||||||
|
|
|
|||||||||||||||
| BANKS | ||||||||||||||||
| 17,019 | FirstMerit Corp | 340,891 | 0.9 | |||||||||||||
| 11,194 | Home Loan Servicing Solutions Ltd | 268,320 | 0.7 | |||||||||||||
| 5,302 | Prosperity Bancshares, Inc | 274,591 | 0.7 | |||||||||||||
| 20,437 | Susquehanna Bancshares, Inc | 262,615 | 0.7 | |||||||||||||
| 3,854 | * | SVB Financial Group | 321,115 | 0.8 | ||||||||||||
| 15,996 | Umpqua Holdings Corp | 240,100 | 0.6 | |||||||||||||
| Other | 1,576,134 | 4.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,283,766 | 8.4 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 3,300 | Acuity Brands, Inc | 249,216 | 0.7 | |||||||||||||
| 3,650 | Alliant Techsystems, Inc | 300,504 | 0.8 | |||||||||||||
| 5,020 | Applied Industrial Technologies, Inc | 242,617 | 0.6 | |||||||||||||
| 3,680 | * | Teledyne Technologies, Inc | 284,648 | 0.7 | ||||||||||||
| Other | 2,432,992 | 6.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,509,977 | 9.0 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | ||||||||||||||||
| 4,172 | * | Advisory Board Co | 228,000 | 0.6 | ||||||||||||
| Other | 1,081,968 | 2.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,309,968 | 3.3 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | ||||||||||||||||
| 8,070 | Brunswick Corp | 257,837 | 0.7 | |||||||||||||
| 4,691 | Harman International Industries, Inc | 254,252 | 0.6 | |||||||||||||
| Other | 844,961 | 2.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,357,050 | 3.5 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | ||||||||||||||||
| 10,725 | Hillenbrand, Inc | 254,290 | 0.7 | |||||||||||||
| Other | 1,226,495 | 3.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,480,785 | 3.8 | |||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 5,680 | MarketAxess Holdings, Inc | 265,540 | 0.7 | |||||||||||||
| 1,500 | * | Portfolio Recovery Associates, Inc | 230,445 | 0.6 | ||||||||||||
| 21,930 | * | WisdomTree Investments, Inc | 253,730 | 0.6 | ||||||||||||
| Other | 737,777 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,487,492 | 3.8 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 4,914 | Bristow Group, Inc | 320,982 | 0.8 | |||||||||||||
| 3,699 | Targa Resources Investments, Inc | 237,957 | 0.6 | |||||||||||||
| Other | 1,596,066 | 4.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,155,005 | 5.5 | |||||||||||||||
|
|
|
|||||||||||||||
| 50 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Small-Cap Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| FOOD & STAPLES RETAILING | ||||||||||||||||
| 118,390 | *,e | Rite Aid Corp | $ | 338,596 | 0.9 | % | ||||||||||
| Other | 38,219 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 376,815 | 1.0 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||||
| 16,452 | * | Pilgrim’s Pride Corp | 245,793 | 0.6 | ||||||||||||
| 4,900 | Sanderson Farms, Inc | 325,458 | 0.8 | |||||||||||||
| Other | 531,407 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,102,658 | 2.8 | |||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | ||||||||||||||||
| 5,081 | * | Cyberonics, Inc | 264,009 | 0.7 | ||||||||||||
| 3,931 | * | Medidata Solutions, Inc | 304,456 | 0.8 | ||||||||||||
| 7,300 | * | Team Health Holdings, Inc | 299,811 | 0.7 | ||||||||||||
| Other | 1,650,080 | 4.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,518,356 | 6.4 | |||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | 221,971 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | ||||||||||||||||
| 9,998 | First American Financial Corp | 220,356 | 0.5 | |||||||||||||
| Other | 733,320 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 953,676 | 2.4 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | ||||||||||||||||
| 4,918 | Schweitzer-Mauduit International, Inc | 245,310 | 0.6 | |||||||||||||
| 6,793 | Worthington Industries, Inc | 215,406 | 0.6 | |||||||||||||
| Other | 1,342,154 | 3.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,802,870 | 4.6 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 18,700 | * | Live Nation, Inc | 289,850 | 0.7 | ||||||||||||
| Other | 422,792 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 712,642 | 1.8 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 7,084 | * | Medicines Co | 217,904 | 0.6 | ||||||||||||
| 6,300 | * | Parexel International Corp | 289,422 | 0.7 | ||||||||||||
| 10,152 | * | Santarus, Inc | 213,700 | 0.5 | ||||||||||||
| Other | 1,282,581 | 3.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,003,607 | 5.1 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | ||||||||||||||||
| 9,600 | DuPont Fabros Technology, Inc | 231,840 | 0.6 | |||||||||||||
| 6,570 | Extra Space Storage, Inc | 275,480 | 0.7 | |||||||||||||
| 3,338 | Home Properties, Inc | 218,205 | 0.6 | |||||||||||||
| 12,000 | Omega Healthcare Investors, Inc | 372,240 | 0.9 | |||||||||||||
| 11,893 | RLJ Lodging Trust | 267,474 | 0.7 | |||||||||||||
| 3,937 | Sovran Self Storage, Inc | 255,078 | 0.7 | |||||||||||||
| Other | 1,582,142 | 4.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,202,459 | 8.2 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | 1,557,837 | 4.0 | ||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 51 |
| Summary portfolio of investments (unaudited) | concluded |
Small-Cap Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | $ | 1,505,774 | 3.9 | % | ||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 8,346 | * | Aspen Technology, Inc | 240,281 | 0.6 | ||||||||||||
| 4,334 | * | Commvault Systems, Inc | 328,907 | 0.8 | ||||||||||||
| 3,700 | * | Gartner, Inc | 210,863 | 0.6 | ||||||||||||
| 8,033 | * | Infoblox, Inc | 235,046 | 0.6 | ||||||||||||
| 3,383 | * | Manhattan Associates, Inc | 261,032 | 0.7 | ||||||||||||
| 4,199 | MAXIMUS, Inc | 312,742 | 0.8 | |||||||||||||
| Other | 1,743,089 | 4.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,331,960 | 8.5 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 6,067 | * | Synaptics, Inc | 233,943 | 0.6 | ||||||||||||
| Other | 1,475,193 | 3.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,709,136 | 4.4 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | 130,192 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 14,800 | * | Swift Transportation Co, Inc | 244,792 | 0.6 | ||||||||||||
| Other | 573,622 | 1.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 818,414 | 2.1 | |||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | ||||||||||||||||
| 6,200 | Black Hills Corp | 302,250 | 0.8 | |||||||||||||
| Other | 752,458 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,054,708 | 2.7 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $32,824,557) | 38,164,306 | 97.6 | |||||||||||||
|
|
|
|||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 2,803,313 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | 2,803,313 | 7.2 | ||||||||||||
|
|
|
|||||||||||||||
| 2,803,313 | 7.2 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $2,803,313) | 2,803,313 | 7.2 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $35,627,870) | 40,967,619 | 104.8 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (1,863,479 | ) | (4.8 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 39,104,140 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| * | Non-income producing. |
| c | Investments made with cash collateral received from securities on loan. |
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan, including those in “other,” is $2,727,625. |
Securities have been segregated to cover margin or other requirements on open futures transactions.
“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.
For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.
| 52 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) |
Social Choice Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | ||||||||||||||||
| 27,434 | Ford Motor Co | $ | 424,404 | 0.8 | % | |||||||||||
| Other | 451,622 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 876,026 | 1.6 | |||||||||||||||
|
|
|
|||||||||||||||
| BANKS | ||||||||||||||||
| 4,945 | PNC Financial Services Group, Inc | 360,590 | 0.7 | |||||||||||||
| 12,721 | US Bancorp | 459,864 | 0.8 | |||||||||||||
| Other | 1,123,606 | 2.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,944,060 | 3.5 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 4,279 | 3M Co | 467,909 | 0.9 | |||||||||||||
| 5,649 | Danaher Corp | 357,582 | 0.6 | |||||||||||||
| 6,639 | Emerson Electric Co | 362,091 | 0.7 | |||||||||||||
| 4,828 | Illinois Tool Works, Inc | 333,953 | 0.6 | |||||||||||||
| 1,604 | Precision Castparts Corp | 362,520 | 0.7 | |||||||||||||
| Other | 2,226,455 | 4.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,110,510 | 7.5 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 447,208 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | 669,908 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | ||||||||||||||||
| 5,495 | McDonald’s Corp | 544,005 | 1.0 | |||||||||||||
| 6,173 | Starbucks Corp | 404,270 | 0.8 | |||||||||||||
| Other | 397,046 | 0.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,345,321 | 2.5 | |||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 6,376 | American Express Co | 476,670 | 0.9 | |||||||||||||
| 12,182 | Bank of New York Mellon Corp | 341,705 | 0.6 | |||||||||||||
| 1,330 | BlackRock, Inc | 341,611 | 0.6 | |||||||||||||
| 5,819 | Capital One Financial Corp | 365,491 | 0.7 | |||||||||||||
| Other | 2,465,704 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,991,181 | 7.3 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 2,623 | EOG Resources, Inc | 345,397 | 0.6 | |||||||||||||
| 4,970 | Occidental Petroleum Corp | 443,473 | 0.8 | |||||||||||||
| Other | 4,573,354 | 8.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,362,224 | 9.7 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING | 568,702 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||||
| 6,996 | General Mills, Inc | 339,516 | 0.6 | |||||||||||||
| 7,831 | PepsiCo, Inc | 640,498 | 1.2 | |||||||||||||
| Other | 1,074,874 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,054,888 | 3.7 | |||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 53 |
| Summary portfolio of investments (unaudited) | continued |
Social Choice Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | ||||||||||||||||
| 11,664 | Abbott Laboratories | $ | 406,840 | 0.7 | % | |||||||||||
| 7,921 | Medtronic, Inc | 407,694 | 0.8 | |||||||||||||
| Other | 1,064,300 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,878,834 | 3.4 | |||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||||
| 6,736 | Colgate-Palmolive Co | 385,905 | 0.7 | |||||||||||||
| 11,640 | Procter & Gamble Co | 896,164 | 1.6 | |||||||||||||
| Other | 551,713 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,833,782 | 3.3 | |||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | ||||||||||||||||
| 7,676 | * | Berkshire Hathaway, Inc (Class B) | 859,098 | 1.6 | ||||||||||||
| 5,183 | Prudential Financial, Inc | 378,515 | 0.7 | |||||||||||||
| 4,210 | Travelers Cos, Inc | 336,463 | 0.6 | |||||||||||||
| Other | 1,611,006 | 2.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,185,082 | 5.8 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | ||||||||||||||||
| 3,057 | Praxair, Inc | 352,044 | 0.6 | |||||||||||||
| Other | 2,179,138 | 4.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,531,182 | 4.6 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 3,457 | Time Warner Cable, Inc | 388,843 | 0.7 | |||||||||||||
| 7,186 | Time Warner, Inc | 415,495 | 0.8 | |||||||||||||
| Other | 892,133 | 1.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,696,471 | 3.1 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 1,901 | * | Biogen Idec, Inc | 409,095 | 0.7 | ||||||||||||
| 10,481 | Bristol-Myers Squibb Co | 468,396 | 0.8 | |||||||||||||
| 9,409 | * | Gilead Sciences, Inc | 481,835 | 0.9 | ||||||||||||
| 11,316 | Johnson & Johnson | 971,592 | 1.8 | |||||||||||||
| 14,626 | Merck & Co, Inc | 679,377 | 1.2 | |||||||||||||
| Other | 1,085,957 | 2.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,096,252 | 7.4 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | ||||||||||||||||
| 2,184 | Simon Property Group, Inc | 344,897 | 0.6 | |||||||||||||
| Other | 1,696,274 | 3.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,041,171 | 3.7 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| 9,519 | Lowe’s Companies, Inc | 389,327 | 0.7 | |||||||||||||
| 5,557 | Target Corp | 382,655 | 0.7 | |||||||||||||
| 7,126 | TJX Companies, Inc | 356,727 | 0.6 | |||||||||||||
| Other | 1,518,426 | 2.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,647,135 | 4.8 | |||||||||||||||
|
|
|
|||||||||||||||
| 54 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
Social Choice Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||||
| 25,696 | Intel Corp | $ | 622,357 | 1.1 | % | |||||||||||
| 9,888 | Texas Instruments, Inc | 344,794 | 0.6 | |||||||||||||
| Other | 430,181 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,397,332 | 2.5 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 5,032 | Accenture plc | 362,103 | 0.7 | |||||||||||||
| 1,080 | * | Google, Inc (Class A) | 950,800 | 1.7 | ||||||||||||
| 4,629 | International Business Machines Corp | 884,648 | 1.6 | |||||||||||||
| 19,248 | Oracle Corp | 591,298 | 1.1 | |||||||||||||
| 13,275 | * | Yahoo!, Inc | 333,335 | 0.6 | ||||||||||||
| Other | 1,696,269 | 3.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,818,453 | 8.8 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 26,789 | Cisco Systems, Inc | 651,241 | 1.2 | |||||||||||||
| 16,621 | * | EMC Corp | 392,588 | 0.7 | ||||||||||||
| 16,507 | Hewlett-Packard Co | 409,374 | 0.7 | |||||||||||||
| 8,024 | Qualcomm, Inc | 490,106 | 0.9 | |||||||||||||
| Other | 865,856 | 1.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,809,165 | 5.1 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | 971,645 | 1.8 | ||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 5,068 | United Parcel Service, Inc (Class B) | 438,281 | 0.8 | |||||||||||||
| Other | 677,431 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,115,712 | 2.0 | |||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | ||||||||||||||||
| 4,346 | NextEra Energy, Inc | 354,112 | 0.7 | |||||||||||||
| Other | 1,949,626 | 3.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,303,738 | 4.2 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $43,078,018) | 54,695,982 | 99.3 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $43,078,018) | 54,695,982 | 99.3 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | 409,541 | 0.7 | ||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 55,105,523 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| * | Non-income producing. |
“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.
For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 55 |
| Summary portfolio of investments (unaudited) |
Stock Index Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | $ | 2,615,862 | 1.1 | % | ||||||||||||
|
|
|
|||||||||||||||
| BANKS | ||||||||||||||||
| 63,429 | Wells Fargo & Co | 2,617,715 | 1.1 | |||||||||||||
| Other | 5,639,012 | 2.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 8,256,727 | 3.5 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 9,036 | 3M Co | 988,086 | 0.4 | |||||||||||||
| 9,950 | Boeing Co | 1,019,278 | 0.4 | |||||||||||||
| 135,612 | General Electric Co | 3,144,842 | 1.3 | |||||||||||||
| 12,056 | United Technologies Corp | 1,120,485 | 0.5 | |||||||||||||
| Other | 12,831,241 | 5.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 19,103,932 | 8.0 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 2,421,613 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | 3,739,174 | 1.6 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | ||||||||||||||||
| 13,148 | McDonald’s Corp | 1,301,652 | 0.6 | |||||||||||||
| Other | 3,889,991 | 1.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,191,643 | 2.2 | |||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 12,428 | American Express Co | 929,117 | 0.4 | |||||||||||||
| 141,459 | Bank of America Corp | 1,819,163 | 0.8 | |||||||||||||
| 39,907 | Citigroup, Inc | 1,914,339 | 0.8 | |||||||||||||
| 6,013 | Goldman Sachs Group, Inc | 909,466 | 0.4 | |||||||||||||
| 9,450 | e | iShares Russell 3000 Index Fund | 910,980 | 0.4 | ||||||||||||
| 49,574 | JPMorgan Chase & Co | 2,617,012 | 1.1 | |||||||||||||
| Other | 6,549,957 | 2.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 15,650,034 | 6.6 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 25,424 | Chevron Corp | 3,008,676 | 1.3 | |||||||||||||
| 16,036 | ConocoPhillips | 970,178 | 0.4 | |||||||||||||
| 58,315 | d | Exxon Mobil Corp | 5,268,760 | 2.2 | ||||||||||||
| 10,534 | Occidental Petroleum Corp | 939,949 | 0.4 | |||||||||||||
| 17,436 | Schlumberger Ltd | 1,249,464 | 0.5 | |||||||||||||
| Other | 10,803,689 | 4.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 22,240,716 | 9.4 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING | ||||||||||||||||
| 16,058 | CVS Corp | 918,196 | 0.4 | |||||||||||||
| 21,120 | Wal-Mart Stores, Inc | 1,573,229 | 0.7 | |||||||||||||
| Other | 2,255,166 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,746,591 | 2.0 | |||||||||||||||
|
|
|
|||||||||||||||
| 56 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Stock Index Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||||
| 26,341 | Altria Group, Inc | $ | 921,672 | 0.4 | % | |||||||||||
| 50,165 | Coca-Cola Co | 2,012,118 | 0.8 | |||||||||||||
| 20,281 | PepsiCo, Inc | 1,658,783 | 0.7 | |||||||||||||
| 21,451 | Philip Morris International, Inc | 1,858,086 | 0.8 | |||||||||||||
| Other | 5,338,126 | 2.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 11,788,785 | 5.0 | |||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 10,621,723 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||||
| 35,948 | Procter & Gamble Co | 2,767,636 | 1.1 | |||||||||||||
| Other | 2,059,445 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,827,081 | 2.0 | |||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | ||||||||||||||||
| 23,603 | * | Berkshire Hathaway, Inc (Class B) | 2,641,648 | 1.1 | ||||||||||||
| Other | 7,464,314 | 3.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 10,105,962 | 4.3 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | 8,630,187 | 3.6 | ||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 34,415 | Comcast Corp (Class A) | 1,441,300 | 0.6 | |||||||||||||
| 23,619 | Walt Disney Co | 1,491,540 | 0.6 | |||||||||||||
| Other | 5,871,386 | 2.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 8,804,226 | 3.7 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 9,862 | Amgen, Inc | 972,985 | 0.4 | |||||||||||||
| 21,566 | Bristol-Myers Squibb Co | 963,784 | 0.4 | |||||||||||||
| 20,100 | * | Gilead Sciences, Inc | 1,029,321 | 0.4 | ||||||||||||
| 36,839 | Johnson & Johnson | 3,162,997 | 1.3 | |||||||||||||
| 39,636 | Merck & Co, Inc | 1,841,092 | 0.8 | |||||||||||||
| 89,192 | Pfizer, Inc | 2,498,268 | 1.1 | |||||||||||||
| Other | 7,974,989 | 3.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 18,443,436 | 7.8 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | 8,690,076 | 3.7 | ||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| 4,841 | * | Amazon.com, Inc | 1,344,297 | 0.6 | ||||||||||||
| 19,159 | Home Depot, Inc | 1,484,248 | 0.6 | |||||||||||||
| Other | 7,700,724 | 3.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 10,529,269 | 4.4 | |||||||||||||||
|
|
|
|||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||||
| 65,193 | Intel Corp | 1,578,975 | 0.7 | |||||||||||||
| Other | 3,546,819 | 1.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,125,794 | 2.2 | |||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 57 |
| Summary portfolio of investments (unaudited) | continued |
Stock Index Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 17,020 | * | eBay, Inc | $ | 880,274 | 0.4 | % | ||||||||||
| 3,537 | * | Google, Inc (Class A) | 3,113,869 | 1.3 | ||||||||||||
| 13,662 | International Business Machines Corp | 2,610,945 | 1.1 | |||||||||||||
| 1,533 | Mastercard, Inc (Class A) | 880,708 | 0.4 | |||||||||||||
| 109,528 | Microsoft Corp | 3,782,002 | 1.6 | |||||||||||||
| 46,641 | Oracle Corp | 1,432,812 | 0.6 | |||||||||||||
| 6,877 | Visa, Inc (Class A) | 1,256,772 | 0.5 | |||||||||||||
| Other | 8,869,621 | 3.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 22,827,003 | 9.6 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 12,319 | Apple, Inc | 4,879,310 | 2.0 | |||||||||||||
| 70,156 | Cisco Systems, Inc | 1,705,492 | 0.7 | |||||||||||||
| 22,678 | Qualcomm, Inc | 1,385,172 | 0.6 | |||||||||||||
| Other | 4,941,729 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 12,911,703 | 5.4 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | ||||||||||||||||
| 70,563 | AT&T, Inc | 2,497,930 | 1.0 | |||||||||||||
| 37,536 | Verizon Communications, Inc | 1,889,562 | 0.8 | |||||||||||||
| Other | 1,396,899 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,784,391 | 2.4 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 6,123 | Union Pacific Corp | 944,656 | 0.4 | |||||||||||||
| Other | 3,629,575 | 1.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,574,231 | 1.9 | |||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | 7,844,350 | 3.3 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $172,109,011) | 235,474,509 | 99.2 | |||||||||||||
|
|
|
|||||||||||||||
| RIGHTS/WARRANTS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | 44 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | 25 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL RIGHTS/WARRANTS | (Cost $0) | 69 | 0.0 | |||||||||||||
|
|
|
|||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 6,313,596 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | 6,313,596 | 2.7 | ||||||||||||
|
|
|
|||||||||||||||
| 6,313,596 | 2.7 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $6,313,596) | 6,313,596 | 2.7 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $178,422,607) | 241,788,174 | 101.9 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (4,467,587 | ) | (1.9 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 237,320,587 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| 58 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
Stock Index Fund § June 30, 2013
| * | 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 transactions. |
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan, including those in “other,” is $6,136,727. |
“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.
For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 59 |
| Summary portfolio of investments (unaudited) |
International Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| FRANCE | ||||||||||||||||
| 55,020 | BNP Paribas | $ | 3,012,071 | 3.7 | % | |||||||||||
| 19,147 | Compagnie Generale d’Optique Essilor International S.A. | 2,039,879 | 2.5 | |||||||||||||
| 48,338 | Renault S.A. | 3,255,925 | 4.1 | |||||||||||||
| Other | 1,164,959 | 1.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 9,472,834 | 11.8 | |||||||||||||||
|
|
|
|||||||||||||||
| GERMANY | ||||||||||||||||
| 38,274 | Bayer AG. | 4,075,053 | 5.1 | |||||||||||||
| 8,434 | Continental AG. | 1,124,328 | 1.4 | |||||||||||||
| 37,371 | Deutsche Post AG. | 927,474 | 1.1 | |||||||||||||
| 37,384 | * | Evonik Industries AG. | 1,323,575 | 1.6 | ||||||||||||
| 21,040 | Henkel KGaA (Preference) | 1,975,860 | 2.5 | |||||||||||||
| 16,797 | e | Lanxess AG. | 1,011,551 | 1.3 | ||||||||||||
| 3,812 | Merck KGaA | 579,728 | 0.7 | |||||||||||||
|
|
|
|||||||||||||||
| 11,017,569 | 13.7 | |||||||||||||||
|
|
|
|||||||||||||||
| HONG KONG | ||||||||||||||||
| 194,000 | Hang Lung Properties Ltd | 671,983 | 0.8 | |||||||||||||
| Other | 7,449 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 679,432 | 0.8 | |||||||||||||||
|
|
|
|||||||||||||||
| INDIA | ||||||||||||||||
| 129,848 | HDFC Bank Ltd | 1,454,735 | 1.8 | |||||||||||||
| 92,600 | IndusInd Bank Ltd | 725,656 | 0.9 | |||||||||||||
| 188,535 | Mahindra & Mahindra Financial Services Ltd | 824,952 | 1.0 | |||||||||||||
| 379,848 | Mundra Port and Special Economic Zone Ltd | 959,034 | 1.2 | |||||||||||||
|
|
|
|||||||||||||||
| 3,964,377 | 4.9 | |||||||||||||||
|
|
|
|||||||||||||||
| INDONESIA | ||||||||||||||||
| 1,013,000 | PT Indofood Sukses Makmur Tbk | 747,212 | 0.9 | |||||||||||||
|
|
|
|||||||||||||||
| 747,212 | 0.9 | |||||||||||||||
|
|
|
|||||||||||||||
| ITALY | ||||||||||||||||
| 222,318 | UniCredit S.p.A | 1,039,311 | 1.3 | |||||||||||||
|
|
|
|||||||||||||||
| 1,039,311 | 1.3 | |||||||||||||||
|
|
|
|||||||||||||||
| JAPAN | ||||||||||||||||
| 55,200 | Asics Corp | 869,932 | 1.1 | |||||||||||||
| 31,100 | e | Canon, Inc | 1,019,249 | 1.3 | ||||||||||||
| 2,500 | Fast Retailing Co Ltd | 843,761 | 1.0 | |||||||||||||
| 122,000 | Hitachi Ltd | 781,714 | 1.0 | |||||||||||||
| 97,625 | * | Olympus Corp | 2,966,569 | 3.7 | ||||||||||||
| 16,550 | Shin-Etsu Chemical Co Ltd | 1,095,366 | 1.4 | |||||||||||||
| 204,000 | Sumitomo Heavy Industries Ltd | 856,622 | 1.1 | |||||||||||||
| 12,800 | Toyota Motor Corp | 772,068 | 0.9 | |||||||||||||
| Other | 2,554,765 | 3.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 11,760,046 | 14.6 | |||||||||||||||
|
|
|
|||||||||||||||
| 60 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
International Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| MACAU | ||||||||||||||||
| 530,000 | Wynn Macau Ltd | $ | 1,425,580 | 1.8 | % | |||||||||||
|
|
|
|||||||||||||||
| 1,425,580 | 1.8 | |||||||||||||||
|
|
|
|||||||||||||||
| MEXICO | ||||||||||||||||
| 94,873 | * | Cemex SAB de C.V. (ADR) | 1,003,756 | 1.2 | ||||||||||||
|
|
|
|||||||||||||||
| 1,003,756 | 1.2 | |||||||||||||||
|
|
|
|||||||||||||||
| NETHERLANDS | ||||||||||||||||
| 116,002 | * | ING Groep NV | 1,060,152 | 1.3 | ||||||||||||
| Other | 9,615 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,069,767 | 1.3 | |||||||||||||||
|
|
|
|||||||||||||||
| PORTUGAL | 283,332 | 0.5 | ||||||||||||||
|
|
|
|||||||||||||||
| SINGAPORE | 215,684 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| SWEDEN | ||||||||||||||||
| 18,705 | Assa Abloy AB (Class B) | 731,025 | 0.9 | |||||||||||||
| 179,022 | e | SKF AB (B Shares) | 4,193,968 | 5.2 | ||||||||||||
| 52,799 | Trelleborg AB (B Shares) | 791,821 | 1.0 | |||||||||||||
|
|
|
|||||||||||||||
| 5,716,814 | 7.1 | |||||||||||||||
|
|
|
|||||||||||||||
| SWITZERLAND | ||||||||||||||||
| 57,350 | Adecco S.A. | 3,266,193 | 4.1 | |||||||||||||
| 3,595 | Burckhardt Compression Holding AG. | 1,431,073 | 1.8 | |||||||||||||
| 157,377 | Clariant AG. | 2,218,448 | 2.7 | |||||||||||||
| 34,657 | Holcim Ltd | 2,412,345 | 3.0 | |||||||||||||
| 28,318 | Novartis AG. | 2,005,780 | 2.5 | |||||||||||||
| 43,890 | UBS AG. (Switzerland) | 744,981 | 0.9 | |||||||||||||
| Other | 647,794 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 12,726,614 | 15.8 | |||||||||||||||
|
|
|
|||||||||||||||
| UNITED KINGDOM | ||||||||||||||||
| 73,598 | British Sky Broadcasting plc | 886,631 | 1.1 | |||||||||||||
| 96,218 | Drax Group plc | 853,857 | 1.1 | |||||||||||||
| 195,383 | Filtrona plc | 2,089,307 | 2.6 | |||||||||||||
| 16,031 | Imperial Tobacco Group plc | 555,869 | 0.7 | |||||||||||||
| 2,982,930 | * | Lloyds TSB Group plc | 2,864,540 | 3.5 | ||||||||||||
| 1,037,456 | Man Group plc | 1,310,534 | 1.6 | |||||||||||||
| 344,367 | * | Ocado Ltd | 1,562,391 | 1.9 | ||||||||||||
| 22,618 | Reckitt Benckiser Group plc | 1,599,918 | 2.0 | |||||||||||||
| 132,929 | Reed Elsevier plc | 1,511,691 | 1.9 | |||||||||||||
| 345,225 | Tate & Lyle plc | 4,331,421 | 5.4 | |||||||||||||
| 47,218 | Travis Perkins plc | 1,045,514 | 1.3 | |||||||||||||
| Other | 461,318 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 19,072,991 | 23.7 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $76,715,704) | 80,195,319 | 99.7 | |||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 61 |
| Summary portfolio of investments (unaudited) | concluded |
International Equity Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 4,795,142 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | $ | 4,795,142 | 6.0 | % | ||||||||||
|
|
|
|||||||||||||||
| 4,795,142 | 6.0 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $4,795,142) | 4,795,142 | 6.0 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $81,510,846) | 84,990,461 | 105.7 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (4,534,411 | ) | (5.7 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 80,456,050 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
ABBREVIATION(S):
ADR American Depositary Receipt
| * | Non-income producing. |
| c | Investments made with cash collateral received from securities on loan. |
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan, including those in “other,” is $4,500,503. |
“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.
For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.
| 62 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary of market values by sector (unaudited) |
International Equity Fund § June 30, 2013
| Sector | Value | % of net assets |
||||||
| INDUSTRIALS | $ | 15,162,690 | 18.8 | % | ||||
| CONSUMER DISCRETIONARY | 15,149,729 | 18.8 | ||||||
| FINANCIALS | 14,175,780 | 17.6 | ||||||
| HEALTH CARE | 11,667,008 | 14.5 | ||||||
| MATERIALS | 11,331,389 | 14.1 | ||||||
| CONSUMER STAPLES | 9,531,159 | 11.9 | ||||||
| INFORMATION TECHNOLOGY | 2,043,761 | 2.5 | ||||||
| UTILITIES | 853,857 | 1.1 | ||||||
| ENERGY | 279,946 | 0.4 | ||||||
| SHORT-TERM INVESTMENTS | 4,795,142 | 6.0 | ||||||
| OTHER ASSETS & LIABILITES, NET | (4,534,411 | ) | (5.7 | ) | ||||
|
|
|
|||||||
| NET ASSETS |
$ | 80,456,050 | 100.0 | % | ||||
|
|
|
|||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 63 |
| Summary portfolio of investments (unaudited) |
Bond Fund § June 30, 2013
| Principal | Issuer | Value | % of net assets |
|||||||||||||
| BANK LOAN OBLIGATIONS | ||||||||||||||||
| CAPITAL GOODS | $ | 199,800 | 0.1 | % | ||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | 224,156 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | 296,731 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL BANK LOAN OBLIGATIONS | (Cost $723,184) | 720,687 | 0.4 | |||||||||||||
|
|
|
|||||||||||||||
| BONDS | ||||||||||||||||
| CORPORATE BONDS | ||||||||||||||||
| BANKS | ||||||||||||||||
| $ 600,000 | PNC Bank NA | 2.950%, 01/30/23 | 553,524 | 0.3 | ||||||||||||
| Other | 6,486,754 | 3.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,040,278 | 3.8 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | 2,283,699 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 626,340 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | 1,010,891 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | 1,095,848 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 750,000 | General Electric Capital Corp | 3.100%, 01/09/23 | 708,499 | 0.4 | ||||||||||||
| Other | 8,819,049 | 4.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 9,527,548 | 5.2 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 550,000 | BP Capital Markets plc | 1.375%, 05/10/18 | 530,141 | 0.3 | ||||||||||||
| Other | 8,046,984 | 4.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 8,577,125 | 4.7 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING | 967,743 | 0.5 | ||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | 1,757,627 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 1,476,663 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | 244,563 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | 3,730,108 | 2.0 | ||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | ||||||||||||||||
| 500,000 | International Paper Co | 4.750%, 02/15/22 | 526,144 | 0.3 | ||||||||||||
| 575,000 | LyondellBasell Industries NV | 6.000%, 11/15/21 | 646,131 | 0.4 | ||||||||||||
| Other | 4,506,236 | 2.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,678,511 | 3.1 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 675,000 | Comcast Corp | 4.250%, 01/15/33 | 645,845 | 0.3 | ||||||||||||
| Other | 3,914,872 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,560,717 | 2.4 | |||||||||||||||
|
|
|
|||||||||||||||
| 64 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Bond Fund § June 30, 2013
| Principal | Issuer | Value | % of net assets |
|||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | $ | 1,223,525 | 0.7 | % | ||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | 1,830,846 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| $ 725,000 | O’Reilly Automotive, Inc | 3.800%, 09/01/22 | 714,583 | 0.4 | ||||||||||||
| 510,000 | g | QVC, Inc | 7.375%, 10/15/20 | 556,331 | 0.3 | |||||||||||
| Other | 2,380,486 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,651,400 | 2.0 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 1,170,000 | Fidelity National Information Services, Inc | 5.000%, 03/15/22 | 1,177,313 | 0.6 | ||||||||||||
| Other | 500,237 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,677,550 | 0.9 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | 2,206,078 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | ||||||||||||||||
| 600,000 | Verizon Communications, Inc | 0.700%, 11/02/15 | 595,970 | 0.3 | ||||||||||||
| Other | 2,801,675 | 1.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,397,645 | 1.8 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | 1,614,554 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | 6,054,923 | 3.3 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL CORPORATE BONDS | (Cost $71,158,292) | 70,234,182 | 38.3 | |||||||||||||
|
|
|
|||||||||||||||
| GOVERNMENT BONDS | ||||||||||||||||
| AGENCY SECURITIES | ||||||||||||||||
| 1,000,000 | Federal National Mortgage Association (FNMA) | 3.000%, 09/16/14 | 1,033,551 | 0.6 | ||||||||||||
| Other | 392,993 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,426,544 | 0.8 | |||||||||||||||
|
|
|
|||||||||||||||
| FOREIGN GOVERNMENT BONDS | 7,038,454 | 3.8 | ||||||||||||||
|
|
|
|||||||||||||||
| MORTGAGE BACKED | ||||||||||||||||
| 660,191 | Federal Home Loan Mortgage Corp Gold (FGLMC) | 4.500%, 12/01/39 | 711,510 | 0.4 | ||||||||||||
| 733,043 | Federal National Mortgage Association (FNMA) | 4.606%, 01/01/15 | 749,886 | 0.4 | ||||||||||||
| 570,165 | FNMA | 3.000%, 01/01/27 | 587,028 | 0.3 | ||||||||||||
| 1,235,959 | FNMA | 2.500%, 10/01/27 | 1,244,682 | 0.7 | ||||||||||||
| 981,418 | FNMA | 3.000%, 03/01/28 | 1,013,794 | 0.6 | ||||||||||||
| 474,677 | FNMA | 5.000%, 05/01/40 | 523,539 | 0.3 | ||||||||||||
| 850,599 | FNMA | 4.000%, 12/01/40 | 891,066 | 0.5 | ||||||||||||
| 618,760 | FNMA | 4.000%, 02/01/41 | 644,927 | 0.4 | ||||||||||||
| 711,513 | FNMA | 3.500%, 12/01/41 | 723,255 | 0.4 | ||||||||||||
| 1,177,812 | FNMA | 3.000%, 04/01/42 | 1,152,410 | 0.6 | ||||||||||||
| 1,978,946 | FNMA | 3.500%, 06/01/42 | 2,012,824 | 1.1 | ||||||||||||
| 963,346 | FNMA | 3.000%, 11/01/42 | 942,569 | 0.5 | ||||||||||||
| 1,922,855 | FNMA | 3.000%, 12/01/42 | 1,881,572 | 1.0 | ||||||||||||
| 16,172,002 | i | FNMA | 2.500%–7.500%, 04/01/18–07/01/42 | 17,133,767 | 9.3 | |||||||||||
| 484,243 | Government National Mortgage Association (GNMA) | 4.500%, 03/15/40 | 517,989 | 0.3 | ||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 65 |
| Summary portfolio of investments (unaudited) | continued |
Bond Fund § June 30, 2013
| Principal | Issuer | Value | % of net assets |
|||||||||||||
| MORTGAGE BACKED—continued | ||||||||||||||||
| $ 643,713 | GNMA | 4.500%, 04/20/40 | $ | 693,848 | 0.4 | % | ||||||||||
| 857,113 | GNMA | 4.000%, 09/15/41 | 904,314 | 0.5 | ||||||||||||
| 973,166 | GNMA | 3.000%, 09/15/42 | 964,996 | 0.5 | ||||||||||||
| 960,043 | GNMA | 3.000%, 09/20/42 | 951,274 | 0.5 | ||||||||||||
| 1,978,664 | GNMA | 3.500%, 11/15/42 | 2,040,501 | 1.1 | ||||||||||||
| 990,094 | GNMA | 3.000%, 02/20/43 | 982,118 | 0.5 | ||||||||||||
| 3,549,937 | GNMA | 3.500%–6.000%, 07/15/33–12/20/41 | 3,817,612 | 2.1 | ||||||||||||
| Other | 2,436,504 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 43,521,985 | 23.7 | |||||||||||||||
|
|
|
|||||||||||||||
| MUNICIPAL BONDS | 1,883,810 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| U.S. TREASURY SECURITIES | ||||||||||||||||
| 1,320,000 | United States Treasury Bond | 3.125%, 02/15/43 | 1,232,138 | 0.7 | ||||||||||||
| 2,115,000 | United States Treasury Note | 0.250%, 05/31/15 | 2,111,282 | 1.1 | ||||||||||||
| 520,000 | United States Treasury Note | 0.875%, 01/31/18 | 510,738 | 0.3 | ||||||||||||
| 1,000,000 | United States Treasury Note | 0.250%, 05/31/14 | 1,000,586 | 0.5 | ||||||||||||
| 3,050,000 | United States Treasury Note | 0.250%, 06/30/14 | 3,051,787 | 1.7 | ||||||||||||
| 1,000,000 | United States Treasury Note | 0.250%, 09/30/14 | 1,000,352 | 0.5 | ||||||||||||
| 524,000 | United States Treasury Note | 0.125%, 12/31/14 | 523,059 | 0.3 | ||||||||||||
| 1,385,000 | United States Treasury Note | 0.250%, 01/31/15 | 1,384,730 | 0.7 | ||||||||||||
| 4,900,000 | United States Treasury Note | 0.250%, 02/28/15 | 4,896,364 | 2.7 | ||||||||||||
| 10,664,000 | United States Treasury Note | 0.375%, 11/15/15 | 10,640,667 | 5.8 | ||||||||||||
| 2,360,000 | United States Treasury Note | 0.250%, 05/15/16 | 2,334,925 | 1.3 | ||||||||||||
| 2,530,000 | United States Treasury Note | 1.000%, 05/31/18 | 2,486,514 | 1.3 | ||||||||||||
| 4,735,000 | United States Treasury Note | 1.750%, 05/15/23 | 4,434,621 | 2.4 | ||||||||||||
| Other | 149,367 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 35,757,130 | 19.4 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL GOVERNMENT BONDS | (Cost $90,001,824) | 89,627,923 | 48.7 | |||||||||||||
|
|
|
|||||||||||||||
| STRUCTURED ASSETS | ||||||||||||||||
| ASSET BACKED | ||||||||||||||||
| 490,625 | Dominos Pizza Master Issuer LLC Series 2012-1A (Class A2) |
5.216%, 01/25/42 | 523,768 | 0.3 | ||||||||||||
| Other | 7,902,158 | 4.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 8,425,926 | 4.4 | |||||||||||||||
|
|
|
|||||||||||||||
| OTHER MORTGAGE BACKED | ||||||||||||||||
| 810,000 | Banc of America Commercial Mortgage Trust Series 2006-4 (Class AM) |
5.675%, 07/10/46 | 897,012 | 0.5 | ||||||||||||
| 730,000 | Credit Suisse Mortgage Capital Certificates Series 2006-C4 (Class AM) |
5.509%, 09/15/39 | 783,421 | 0.4 | ||||||||||||
| 670,000 | Wachovia Bank Commercial Mortgage Trust Series 2007-C30 (Class AM) |
5.383%, 12/15/43 | 706,303 | 0.4 | ||||||||||||
| Other | 5,170,238 | 2.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,556,974 | 4.1 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL STRUCTURED ASSETS | (Cost $15,969,157) | 15,982,900 | 8.5 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL BONDS | (Cost $177,129,273) | 175,845,005 | 95.5 | |||||||||||||
|
|
|
|||||||||||||||
| 66 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
Bond Fund § June 30, 2013
| Shares | Company | Value | % of net assets |
|||||||||||||
| PREFERRED STOCKS | ||||||||||||||||
| BANKS | $ | 104,210 | 0.1 | % | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL PREFERRED STOCKS | (Cost $569,550) | 104,210 | 0.1 | |||||||||||||
|
|
|
|||||||||||||||
| Principal |
|
Issuer |
||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| TREASURY DEBT | ||||||||||||||||
| $ 4,200,000 | United States Treasury Bill | 0.045%, 09/26/13 | 4,199,643 | 2.3 | ||||||||||||
| 600,000 | United States Treasury Bill | 0.070%, 11/14/13 | 599,852 | 0.3 | ||||||||||||
| Other | 899,921 | 0.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,699,416 | 3.1 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $5,699,224) | 5,699,416 | 3.1 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $184,121,231) | 182,369,318 | 99.1 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | 1,594,901 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 183,964,219 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be re-sold in transactions exempt from registration to qualified institutional buyers. At 6/30/2013, the aggregate value of these securities, including those in “Other,” amounted to $30,187,046, or 16.4% of net assets. |
| i | Floating or variable rate security. Coupon rate reflects the rate at period end. |
“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.
For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 67 |
| Summary portfolio of investments |
Money Market Fund § June 30, 2013
| Principal | Issuer | Value | % net assets |
|||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| CERTIFICATE OF DEPOSIT | ||||||||||||||||
| $ 635,000 | Toronto-Dominion Bank | 0.160%, 07/09/13 | $ | 635,000 | 0.8 | % | ||||||||||
| 590,000 | Toronto-Dominion Bank | 0.170%, 07/16/13 | 590,000 | 0.8 | ||||||||||||
| 500,000 | Toronto-Dominion Bank | 0.180%, 07/24/13 | 500,000 | 0.7 | ||||||||||||
|
|
|
|||||||||||||||
| 1,725,000 | 2.3 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL PAPER | ||||||||||||||||
| 600,000 | y | Australia & New Zealand Banking Group Ltd | 0.170%, 08/02/13 | 599,909 | 0.8 | |||||||||||
| 1,095,000 | y | Australia & New Zealand Banking Group Ltd |
0.165%–0.210%, 07/22/13–08/28/13 | 1,094,815 | 1.4 | |||||||||||
| 1,680,000 | y | Coca-Cola Co | 0.160%–0.190%, 08/06/13–11/18/13 | 1,679,318 | 2.2 | |||||||||||
| 1,610,000 | y | Commonwealth Bank of Australia | 0.160%–0.240%, 07/08/13–09/12/13 | 1,609,676 | 2.1 | |||||||||||
| 1,000,000 | Exxon Mobil Corp | 0.085%, 07/25/13 | 999,943 | 1.3 | ||||||||||||
| 500,000 | Exxon Mobil Corp | 0.080%, 07/29/13 | 499,969 | 0.7 | ||||||||||||
| 532,000 | y | Fairway Finance LLC | 0.140%, 07/02/13 | 531,998 | 0.7 | |||||||||||
| 525,000 | y | Fairway Finance LLC | 0.155%, 07/12/13 | 524,975 | 0.7 | |||||||||||
| 900,000 | y | Fairway Finance LLC | 0.160%–0.175%, 07/16/13–09/24/13 | 899,805 | 1.2 | |||||||||||
| 1,720,000 | General Electric Capital Corp | 0.180%–0.200%, 07/29/13–11/04/13 | 1,719,331 | 2.3 | ||||||||||||
| 559,000 | y | Johnson & Johnson | 0.070%, 07/09/13 | 558,991 | 0.7 | |||||||||||
| 1,794,000 | JPMorgan Chase Bank NA | 0.155%–0.260%, 07/17/13–10/21/13 | 1,793,417 | 2.4 | ||||||||||||
| 944,000 | y | Liberty Street Funding LLC | 0.160%–0.180%, 07/01/13–08/19/13 | 943,896 | 1.2 | |||||||||||
| 1,000,000 | y | Merck & Co, Inc | 0.120%, 08/23/13 | 999,823 | 1.3 | |||||||||||
| 1,940,000 | y | National Australia Funding Delaware, Inc |
0.160%–0.250%, 08/05/13–09/04/13 | 1,939,503 | 2.5 | |||||||||||
| 500,000 | y | Nestle Capital Corp | 0.140%, 07/18/13 | 499,967 | 0.7 | |||||||||||
| 600,000 | y | Nestle Capital Corp | 0.150%, 08/26/13 | 599,860 | 0.8 | |||||||||||
| 800,000 | y | Nestle Capital Corp | 0.095%–0.120%, 08/15/13–08/19/13 | 799,890 | 1.0 | |||||||||||
| 850,000 | y | Novartis Finance Corp | 0.070%, 07/02/13 | 849,998 | 1.1 | |||||||||||
| 1,414,000 | y | Old Line Funding LLC | 0.180%–0.210%, 08/01/13–10/29/13 | 1,413,387 | 1.9 | |||||||||||
| 600,000 | PACCAR Financial Corp | 0.145%, 08/09/13 | 599,906 | 0.8 | ||||||||||||
| 500,000 | Province of British Columbia | 0.090%, 07/11/13 | 499,988 | 0.7 | ||||||||||||
| 1,100,000 | Province of British Columbia | 0.140%–0.150%, 07/19/13–10/07/13 | 1,099,782 | 1.4 | ||||||||||||
| 500,000 | Province of Ontario Canada | 0.090%, 07/02/13 | 499,999 | 0.7 | ||||||||||||
| 1,245,000 | Province of Ontario Canada | 0.105%–0.140%, 07/05/13–09/04/13 | 1,244,840 | 1.6 | ||||||||||||
| 1,000,000 | y | Province of Quebec Canada | 0.140%, 07/26/13 | 999,903 | 1.3 | |||||||||||
| 700,000 | y | Standard Chartered Bank NY | 0.190%–0.200%, 08/12/13 | 699,840 | 0.9 | |||||||||||
| 1,065,000 | y | Standard Chartered Bank NY | 0.180%–0.250%, 07/09/13–08/27/13 | 1,064,855 | 1.4 | |||||||||||
| Other | 2,884,262 | 3.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 30,151,846 | 39.6 | |||||||||||||||
|
|
|
|||||||||||||||
| GOVERNMENT AGENCY DEBT | ||||||||||||||||
| 600,000 | Federal Home Loan Bank (FHLB) | 0.090%, 09/04/13 | 599,903 | 0.8 | ||||||||||||
| 1,000,000 | FHLB | 0.040%, 07/03/13 | 999,998 | 1.3 | ||||||||||||
| 1,446,000 | FHLB | 0.080%–0.090%, 07/10/13 | 1,445,970 | 1.9 | ||||||||||||
| 655,000 | FHLB | 0.055%–0.060%, 07/12/13 | 654,989 | 0.9 | ||||||||||||
| 1,000,000 | FHLB | 0.065%, 08/23/13 | 999,904 | 1.3 | ||||||||||||
| 1,000,000 | FHLB | 0.085%, 09/11/13 | 999,830 | 1.3 | ||||||||||||
| 1,500,000 | FHLB | 0.095%–0.100%, 09/13/13 | 1,499,697 | 2.0 | ||||||||||||
| 525,000 | FHLB | 0.100%, 09/17/13 | 524,886 | 0.7 | ||||||||||||
| 1,245,000 | FHLB | 0.100%–0.105%, 09/20/13 | 1,244,709 | 1.6 | ||||||||||||
| 550,000 | FHLB | 0.130%–0.145%, 01/02/14 | 549,602 | 0.7 | ||||||||||||
| 2,543,000 | FHLB | 0.060%–0.280%, 07/05/13–09/25/13 | 2,542,690 | 3.3 | ||||||||||||
| 68 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
Money Market Fund § June 30, 2013
| Principal | Issuer | Value | % net assets |
|||||||||||||
| GOVERNMENT AGENCY DEBT—continued | ||||||||||||||||
| $ 688,000 | Federal Home Loan Mortgage Corp (FHLMC) | 0.080%–0.100%, 07/01/13 | $ | 688,000 | 0.9 | % | ||||||||||
| 800,000 | FHLMC | 0.075%, 07/08/13 | 799,988 | 1.1 | ||||||||||||
| 564,000 | FHLMC | 0.057%–0.170%, 07/22/13 | 563,969 | 0.7 | ||||||||||||
| 1,000,000 | FHLMC | 0.060%, 07/23/13 | 999,963 | 1.3 | ||||||||||||
| 895,000 | FHLMC | 0.075%–0.090%, 08/26/13 | 894,886 | 1.2 | ||||||||||||
| 1,000,000 | FHLMC | 0.065%, 09/03/13 | 999,884 | 1.3 | ||||||||||||
| 1,490,000 | FHLMC | 0.090%–0.170%, 08/28/13–01/15/14 | 1,489,313 | 2.0 | ||||||||||||
| 1,000,000 | Federal National Mortgage Association (FNMA) | 0.070%, 08/14/13 | 999,914 | 1.3 | ||||||||||||
| 1,000,000 | FNMA | 0.090%, 08/21/13 | 999,873 | 1.3 | ||||||||||||
| 600,000 | FNMA | 0.068%, 09/16/13 | 599,913 | 0.8 | ||||||||||||
| 1,133,000 | FNMA | 0.110%, 09/18/13 | 1,132,727 | 1.5 | ||||||||||||
| 1,914,000 | FNMA | 0.060%–0.172%, 07/01/13–09/03/13 | 1,913,812 | 2.5 | ||||||||||||
|
|
|
|||||||||||||||
| 24,144,420 | 31.7 | |||||||||||||||
|
|
|
|||||||||||||||
| TREASURY DEBT | ||||||||||||||||
| 1,200,000 | United States Treasury Bill | 0.033%–0.063%, 07/11/13 | 1,199,987 | 1.6 | ||||||||||||
| 905,000 | United States Treasury Bill | 0.038%–0.065%, 08/22/13 | 904,945 | 1.2 | ||||||||||||
| 750,000 | United States Treasury Bill | 0.032%–0.042%, 08/29/13 | 749,957 | 1.0 | ||||||||||||
| 500,000 | United States Treasury Bill | 0.041%, 09/05/13 | 499,962 | 0.6 | ||||||||||||
| 1,000,000 | United States Treasury Bill | 0.045%, 09/19/13 | 999,900 | 1.3 | ||||||||||||
| 3,666,000 | United States Treasury Bill | 0.025%–0.150%, 07/05/13–02/06/14 | 3,665,411 | 4.8 | ||||||||||||
| 705,000 | United States Treasury Note | 0.750%, 08/15/13 | 705,567 | 0.9 | ||||||||||||
| 650,000 | United States Treasury Note | 0.125%, 09/30/13 | 649,892 | 0.9 | ||||||||||||
| 585,000 | United States Treasury Note | 0.500%, 10/15/13 | 585,597 | 0.8 | ||||||||||||
| 680,000 | United States Treasury Note | 0.500%, 11/15/13 | 680,814 | 0.9 | ||||||||||||
| 2,557,000 | United States Treasury Note | 0.125%–1.000%, 07/15/13–05/15/14 | 2,560,827 | 3.3 | ||||||||||||
|
|
|
|||||||||||||||
| 13,202,859 | 17.3 | |||||||||||||||
|
|
|
|||||||||||||||
| VARIABLE RATE SECURITIES | ||||||||||||||||
| 500,000 | i | Federal Farm Credit Bank (FFCB) | 0.201%, 07/02/13 | 500,088 | 0.7 | |||||||||||
| 2,460,000 | i | FFCB | 0.130%–0.323%, 07/01/13–10/15/13 | 2,459,784 | 3.2 | |||||||||||
| 500,000 | i | Federal Home Loan Bank (FHLB) | 0.280%, 08/16/13 | 500,000 | 0.6 | |||||||||||
| 500,000 | i | Canadian Imperial Bank of Commerce | 0.285%, 01/03/14 | 500,089 | 0.7 | |||||||||||
| Other | 899,971 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,859,932 | 6.4 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $74,084,057) | 74,084,057 | 97.3 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $74,084,057) | 74,084,057 | 97.3 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | 2,059,995 | 2.7 | ||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 76,144,052 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| i | Floating or variable rate security. Coupon rate reflects the rate at period end. |
| y | Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities are deemed to be liquid and may be re-sold in transactions exempt from registration only to dealers in that program or other “accredited investors.” At 6/30/2013, the aggregate value of these securities including those in “other,” was $19,624,970, or 25.8% of net assets. |
“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.
For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Fund uses more specific categories in following its investment limitations on investment concentrations.
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 69 |
| Statements of assets and liabilities (unaudited) |
TIAA-CREF Life Funds § June 30, 2013
| Growth Equity Fund |
||||||
|
| ||||||
| ASSETS |
||||||
| Portfolio investments, at value†* |
$ | 47,085,400 | ||||
| Cash |
605,980 | |||||
| Cash—foreign‡ |
— | |||||
| Receivable from securities transactions |
741,014 | |||||
| Receivable from Fund shares sold |
116,962 | |||||
| Dividends and interest receivable |
17,035 | |||||
| Due from affiliates |
957 | |||||
| Other |
3,010 | |||||
|
| ||||||
| Total assets |
48,570,358 | |||||
|
| ||||||
| LIABILITIES |
||||||
| Management fees payable |
2,883 | |||||
| Due to affiliates |
3,057 | |||||
| Payable for collateral for securities loaned |
611,464 | |||||
| Payable for securities transactions |
807,935 | |||||
| Payable for Fund shares redeemed |
16,913 | |||||
| Payable for variation margin on futures contracts |
— | |||||
| Written options§ |
— | |||||
| Accrued expenses and other payables |
30,470 | |||||
|
| ||||||
| Total liabilities |
1,472,722 | |||||
|
| ||||||
| NET ASSETS |
$ | 47,097,636 | ||||
|
| ||||||
| NET ASSETS CONSIST OF: |
||||||
| Paid-in-capital |
$ | 43,449,724 | ||||
| Undistributed net investment income (loss) |
111,866 | |||||
| Accumulated net realized gain (loss) on total investments |
(2,440,780 | ) | ||||
| Net unrealized appreciation (depreciation) on total investments |
5,976,826 | |||||
|
| ||||||
| NET ASSETS |
$ | 47,097,636 | ||||
|
| ||||||
| Outstanding shares of beneficial interest, |
2,229,246 | |||||
|
| ||||||
| Net asset value per share |
$21.13 | |||||
|
| ||||||
| * Portfolio investments, cost |
$ | 41,108,574 | ||||
| † Includes securities loaned of |
$ | 598,196 | ||||
| ‡ Foreign cash, cost |
$ | — | ||||
| § Written options premiums |
$ | — | ||||
| 70 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Growth & Income Fund |
Large-Cap Value Fund |
Real Estate Securities Fund |
Small-Cap Equity Fund |
|||||||||||||
|
|
||||||||||||||||
| $ | 109,955,246 | $ | 87,423,271 | $ | 100,035,349 | $ | 40,967,619 | |||||||||
| 561,693 | 1,385,626 | 804,519 | 884,674 | |||||||||||||
| 9 | — | — | — | |||||||||||||
| 1,418,906 | 1,995,330 | 1,071,351 | 80,327 | |||||||||||||
| 64,224 | 96,564 | 25,502 | 5,599 | |||||||||||||
| 130,999 | 115,102 | 241,192 | 36,419 | |||||||||||||
| 1,189 | 984 | 792 | 1,068 | |||||||||||||
| 4,384 | 3,819 | 4,239 | 3,476 | |||||||||||||
|
|
||||||||||||||||
| 112,136,650 | 91,020,696 | 102,182,944 | 41,979,182 | |||||||||||||
|
|
||||||||||||||||
| 6,677 | 5,332 | 6,917 | 2,553 | |||||||||||||
| 6,354 | 5,096 | 6,480 | 2,973 | |||||||||||||
| 1,672,764 | 2,379,052 | — | 2,803,313 | |||||||||||||
| 1,633,255 | 1,799,677 | 778,177 | 24,341 | |||||||||||||
| 98,575 | 20,925 | 18,561 | 13,209 | |||||||||||||
| — | — | — | 1,260 | |||||||||||||
| 3,418 | — | — | — | |||||||||||||
| 36,247 | 34,760 | 35,369 | 27,393 | |||||||||||||
|
|
||||||||||||||||
| 3,457,290 | 4,244,842 | 845,504 | 2,875,042 | |||||||||||||
|
|
||||||||||||||||
| $ | 108,679,360 | $ | 86,775,854 | $ | 101,337,440 | $ | 39,104,140 | |||||||||
|
|
||||||||||||||||
| $ | 84,978,571 | $ | 76,555,921 | $ | 93,319,748 | $ | 27,379,303 | |||||||||
| 659,743 | 1,191,612 | 1,157,428 | 97,420 | |||||||||||||
| 4,629,807 | 163,349 | (4,632,996 | ) | 6,281,629 | ||||||||||||
| 18,411,239 | 8,864,972 | 11,493,260 | 5,345,788 | |||||||||||||
|
|
||||||||||||||||
| $ | 108,679,360 | $ | 86,775,854 | $ | 101,337,440 | $ | 39,104,140 | |||||||||
|
|
||||||||||||||||
| |
3,162,908 |
|
2,546,685 | 3,334,476 | 1,085,107 | |||||||||||
|
|
||||||||||||||||
| $34.36 | $34.07 | $30.39 | $36.04 | |||||||||||||
|
|
||||||||||||||||
| $ | 91,543,584 | $ | 78,558,282 | $ | 88,542,088 | $ | 35,627,870 | |||||||||
| $ | 1,630,547 | $ | 2,316,125 | $ | — | $ | 2,727,625 | |||||||||
| $ | 9 | $ | — | $ | — | $ | — | |||||||||
| $ | 4,450 | $ | — | $ | — | $ | — | |||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 71 |
| Statements of assets and liabilities (unaudited) |
TIAA-CREF Life Funds § June 30, 2013
| Social Choice Equity Fund |
||||||
|
| ||||||
| ASSETS |
||||||
| Portfolio investments, at value†* |
$ | 54,695,982 | ||||
| Cash |
1,057,448 | |||||
| Cash—foreign‡ |
— | |||||
| Receivable from securities transactions |
80,793 | |||||
| Receivable for delayed delivery securities |
— | |||||
| Receivable from Fund shares sold |
5,658 | |||||
| Dividends and interest receivable |
62,771 | |||||
| Due from affiliates |
719 | |||||
| Other |
2,906 | |||||
|
| ||||||
| Total assets |
55,906,277 | |||||
|
| ||||||
| LIABILITIES |
||||||
| Management fees payable |
1,127 | |||||
| Due to affiliates |
3,112 | |||||
| Payable for collateral for securities loaned |
— | |||||
| Payable for securities transactions |
754,727 | |||||
| Payable for delayed delivery securities |
— | |||||
| Payable for Fund shares redeemed |
16,659 | |||||
| Payable for variation margin on futures contracts |
— | |||||
| Accrued expenses and other payables |
25,129 | |||||
|
| ||||||
| Total liabilities |
800,754 | |||||
|
| ||||||
| NET ASSETS |
$ | 55,105,523 | ||||
|
| ||||||
| NET ASSETS CONSIST OF: |
||||||
| Paid-in-capital |
$ | 43,246,024 | ||||
| Undistributed net investment income (loss) |
635,976 | |||||
| Accumulated net realized gain (loss) on total investments |
(394,441 | ) | ||||
| Net unrealized appreciation (depreciation) on total investments |
11,617,964 | |||||
|
| ||||||
| NET ASSETS |
$ | 55,105,523 | ||||
|
| ||||||
| Outstanding shares of beneficial interest, |
1,724,533 | |||||
|
| ||||||
| Net asset value per share |
$31.95 | |||||
|
| ||||||
| * Portfolio investments, cost |
$ | 43,078,018 | ||||
| † Includes securities loaned of |
$ | — | ||||
| ‡ Foreign cash, cost |
$ | — | ||||
| 72 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| concluded |
| Stock Index Fund |
International Equity Fund |
Bond Fund |
Money Market Fund |
|||||||||||||
|
|
||||||||||||||||
| $ | 241,788,174 | $ | 84,990,461 | $ | 182,369,318 | $ | 74,084,057 | |||||||||
| 1,424,031 | 163,765 | 495,856 | 3,763 | |||||||||||||
| — | 10,661 | — | — | |||||||||||||
| 5,846,872 | 10,609 | 364,137 | — | |||||||||||||
| — | — | 518,391 | — | |||||||||||||
| 316,043 | 57,677 | 9,857 | 2,111,640 | |||||||||||||
| 301,471 | 168,569 | 1,120,084 | 9,298 | |||||||||||||
| 2,291 | 1,522 | 2,267 | 1,387 | |||||||||||||
| 8,028 | 4,883 | 5,213 | 2,912 | |||||||||||||
|
|
||||||||||||||||
| 249,686,910 | 85,408,147 | 184,885,123 | 76,213,057 | |||||||||||||
|
|
||||||||||||||||
| 1,945 | 5,519 | 7,545 | 1,018 | |||||||||||||
| 14,178 | 4,998 | 11,836 | 4,170 | |||||||||||||
| 6,313,596 | 4,795,141 | — | — | |||||||||||||
| 5,898,413 | 10,635 | 278,162 | — | |||||||||||||
| — | — | 200,750 | — | |||||||||||||
| 79,776 | 85,305 | 360,004 | 30,163 | |||||||||||||
| 4,850 | — | — | — | |||||||||||||
| 53,565 | 50,499 | 62,607 | 33,654 | |||||||||||||
|
|
||||||||||||||||
| 12,366,323 | 4,952,097 | 920,904 | 69,005 | |||||||||||||
|
|
||||||||||||||||
| $ | 237,320,587 | $ | 80,456,050 | $ | 183,964,219 | $ | 76,144,052 | |||||||||
|
|
||||||||||||||||
| $ | 175,503,685 | $ | 116,646,890 | $ | 181,481,285 | $ | 76,145,524 | |||||||||
| 2,728,902 | 3,221,672 | 2,304,389 | (1,606 | ) | ||||||||||||
| (4,279,570 | ) | (42,889,764 | ) | 1,930,458 | 134 | |||||||||||
| 63,367,570 | 3,477,252 | (1,751,913 | ) | — | ||||||||||||
|
|
||||||||||||||||
| $ | 237,320,587 | $ | 80,456,050 | $ | 183,964,219 | $ | 76,144,052 | |||||||||
|
|
||||||||||||||||
| |
6,611,679 |
|
4,687,446 | 7,235,268 | 76,142,240 | |||||||||||
|
|
||||||||||||||||
| $35.89 | $17.16 | $25.43 | $1.00 | |||||||||||||
|
|
||||||||||||||||
| $ | 178,422,607 | $ | 81,510,846 | $ | 184,121,231 | $ | 74,084,057 | |||||||||
| $ | 6,136,727 | $ | 4,500,503 | $ | — | $ | — | |||||||||
| $ | — | $ | 10,758 | $ | — | $ | — | |||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 73 |
| Statements of operations (unaudited) |
TIAA-CREF Life Funds § For the period ended June 30, 2013
| Growth Equity Fund |
||||||
|
| ||||||
| INVESTMENT INCOME |
||||||
| Dividends* |
$ | 207,982 | ||||
| Interest |
25 | |||||
| Income from securities lending |
15,746 | |||||
|
| ||||||
| Total income |
223,753 | |||||
|
| ||||||
| EXPENSES |
||||||
| Management fees |
106,876 | |||||
| Shareholder servicing |
1,647 | |||||
| Professional fees |
20,603 | |||||
| Custody and accounting fees |
11,530 | |||||
| Fund administration fees |
10,558 | |||||
| Compliance fees |
8,056 | |||||
| Shareholder reports |
5,005 | |||||
| Trustee fees and expenses |
254 | |||||
| Other expenses |
3,225 | |||||
|
| ||||||
| Total expenses |
167,754 | |||||
| Less: Expenses reimbursed by the investment adviser |
(44,226 | ) | ||||
|
| ||||||
| Net expenses |
123,528 | |||||
|
| ||||||
| Net Investment income (loss) |
100,225 | |||||
|
| ||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS |
||||||
| Realized gain (loss): |
||||||
| Portfolio investments |
3,755,275 | |||||
| Futures transactions |
— | |||||
| Written options |
(2,264 | ) | ||||
| Foreign currency transactions |
(430 | ) | ||||
|
| ||||||
| Net realized gain (loss) on total investments |
3,752,581 | |||||
|
| ||||||
| Change in unrealized appreciation (depreciation) on: |
||||||
| Portfolio investments |
1,438,304 | |||||
| Futures transactions |
— | |||||
| Written options |
— | |||||
| Translation of assets (other than portfolio investments) and |
— | |||||
|
| ||||||
| Net change in unrealized appreciation (depreciation) on total investments |
1,438,304 | |||||
|
| ||||||
| Net realized and unrealized gain (loss) on total investments |
5,190,885 | |||||
|
| ||||||
| Net increase (decrease) in net assets from operations |
$ | 5,291,110 | ||||
|
| ||||||
| * Net of foreign witholding taxes of |
$ | 4,600 | ||||
| 74 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Growth & Income Fund |
Large-Cap Value Fund |
Real Estate Securities Fund |
Small-Cap Equity Fund |
|||||||||||||
|
|
||||||||||||||||
| $ | 892,163 | $ | 876,281 | $ | 1,227,524 | $ | 220,835 | |||||||||
| 40 | 76 | 59 | — | |||||||||||||
| 11,025 | 35,362 | — | 20,782 | |||||||||||||
|
|
||||||||||||||||
| 903,228 | 911,719 | 1,227,583 | 241,617 | |||||||||||||
|
|
||||||||||||||||
| 228,722 | 184,658 | 256,112 | 97,327 | |||||||||||||
| 1,940 | 1,662 | 1,964 | 1,309 | |||||||||||||
| 20,210 | 19,745 | 20,611 | 18,493 | |||||||||||||
| 23,212 | 15,491 | 7,601 | 11,217 | |||||||||||||
| 23,306 | 18,985 | 23,299 | 9,704 | |||||||||||||
| 17,556 | 14,071 | 17,477 | 7,695 | |||||||||||||
| 8,039 | 5,992 | 8,785 | 4,891 | |||||||||||||
| 605 | 455 | 612 | 254 | |||||||||||||
| 6,709 | 4,511 | 3,407 | 5,676 | |||||||||||||
|
|
||||||||||||||||
| 330,299 | 265,570 | 339,868 | 156,566 | |||||||||||||
| (65,929 | ) | (52,161 | ) | (47,675 | ) | (45,019 | ) | |||||||||
|
|
||||||||||||||||
| 264,370 | 213,409 | 292,193 | 111,547 | |||||||||||||
|
|
||||||||||||||||
| 638,858 | 698,310 | 935,390 | 130,070 | |||||||||||||
|
|
||||||||||||||||
| 5,008,658 | 5,147,970 | 4,550,644 | 6,344,200 | |||||||||||||
| — | — | — | 62,373 | |||||||||||||
| 51,211 | — | (15,800 | ) | — | ||||||||||||
| (2,210 | ) | (323 | ) | (196 | ) | — | ||||||||||
|
|
||||||||||||||||
| 5,057,659 | 5,147,647 | 4,534,648 | 6,406,573 | |||||||||||||
|
|
||||||||||||||||
| 6,518,674 | 5,896,340 | (2,159,366 | ) | 630,094 | ||||||||||||
| — | — | — | (4,374 | ) | ||||||||||||
| 3,609 | — | — | — | |||||||||||||
| (1,437 | ) | (10 | ) | — | — | |||||||||||
|
|
||||||||||||||||
| 6,520,846 | 5,896,330 | (2,159,366 | ) | 625,720 | ||||||||||||
|
|
||||||||||||||||
| 11,578,505 | 11,043,977 | 2,375,282 | 7,032,293 | |||||||||||||
|
|
||||||||||||||||
| $ | 12,217,363 | $ | 11,742,287 | $ | 3,310,672 | $ | 7,162,363 | |||||||||
|
|
||||||||||||||||
| $ | 8,851 | $ | 8,343 | $ | — | $ | 66 | |||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 75 |
| Statements of operations (unaudited) |
TIAA-CREF Life Funds § For the period ended June 30, 2013
| Social Choice Equity Fund |
||||||
|
| ||||||
| INVESTMENT INCOME |
||||||
| Dividends* |
$ | 474,097 | ||||
| Interest |
20 | |||||
| Income from securities lending |
— | |||||
|
| ||||||
| Total income |
474,117 | |||||
|
| ||||||
| EXPENSES |
||||||
| Management fees |
37,719 | |||||
| Shareholder servicing |
1,899 | |||||
| Professional fees |
17,720 | |||||
| Custody and accounting fees |
8,643 | |||||
| Fund administration fees |
11,531 | |||||
| Compliance fees |
8,544 | |||||
| Shareholder reports |
5,059 | |||||
| Trustee fees and expenses |
282 | |||||
| Other expenses |
3,972 | |||||
|
| ||||||
| Total expenses |
95,369 | |||||
| Less: Expenses reimbursed by the investment adviser |
(40,021 | ) | ||||
| Fee waiver by investment adviser and TPIS |
— | |||||
|
| ||||||
| Net expenses |
55,348 | |||||
|
| ||||||
| Net Investment income (loss) |
418,769 | |||||
|
| ||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS |
||||||
| Realized gain (loss): |
||||||
| Portfolio investments |
703,417 | |||||
| Futures transactions |
— | |||||
| Foreign currency transactions |
— | |||||
|
| ||||||
| Net realized gain (loss) on total investments |
703,417 | |||||
|
| ||||||
| Change in unrealized appreciation (depreciation) on: |
||||||
| Portfolio investments |
6,047,169 | |||||
| Futures transactions |
— | |||||
| Translation of assets (other than portfolio investments) and liabilities denominated in foreign currencies |
— | |||||
|
| ||||||
| Net change in unrealized appreciation (depreciation) on total investments |
6,047,169 | |||||
|
| ||||||
| Net realized and unrealized gain (loss) on total investments |
6,750,586 | |||||
|
| ||||||
| Net increase (decrease) in net assets from operations |
$ | 7,169,355 | ||||
|
| ||||||
| * Net of foreign witholding taxes of |
$ | 615 | ||||
| 76 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| concluded |
| Stock Index Fund |
International Equity Fund |
Bond Fund |
Money Market Fund |
|||||||||||||
|
|
||||||||||||||||
| $ | 2,239,123 | $ | 1,591,620 | $ | — | $ | — | |||||||||
| 66 | 40 | 2,631,921 | 50,157 | |||||||||||||
| 46,649 | 61,906 | — | — | |||||||||||||
|
|
||||||||||||||||
| 2,285,838 | 1,653,566 | 2,631,921 | 50,157 | |||||||||||||
|
|
||||||||||||||||
| 68,007 | 199,012 | 276,606 | 31,804 | |||||||||||||
| 1,695 | 1,538 | 1,577 | 1,060 | |||||||||||||
| 26,730 | 23,190 | 30,996 | 15,793 | |||||||||||||
| 18,895 | 27,286 | 37,965 | 18,957 | |||||||||||||
| 52,136 | 15,879 | 44,250 | 14,991 | |||||||||||||
| 39,139 | 12,425 | 32,727 | 11,224 | |||||||||||||
| 15,308 | 4,399 | 13,409 | 6,125 | |||||||||||||
| 1,310 | 421 | 1,083 | 366 | |||||||||||||
| 7,375 | 23,970 | 3,984 | 2,419 | |||||||||||||
|
|
||||||||||||||||
| 230,595 | 308,120 | 442,597 | 102,739 | |||||||||||||
| (128,540 | ) | (69,040 | ) | (119,812 | ) | (54,999 | ) | |||||||||
| — | — | — | (978 | ) | ||||||||||||
|
|
||||||||||||||||
| 102,055 | 239,080 | 322,785 | 46,762 | |||||||||||||
|
|
||||||||||||||||
| 2,183,783 | 1,414,486 | 2,309,136 | 3,395 | |||||||||||||
|
|
||||||||||||||||
| (2,159,114 | ) | 4,609,121 | 1,522,743 | 134 | ||||||||||||
| 323,917 | — | — | — | |||||||||||||
| (4 | ) | 1,340 | — | — | ||||||||||||
|
|
||||||||||||||||
| (1,835,201 | ) | 4,610,461 | 1,522,743 | 134 | ||||||||||||
|
|
||||||||||||||||
| 28,639,231 | (3,445,610 | ) | (9,088,518 | ) | — | |||||||||||
| 7,344 | — | — | — | |||||||||||||
|
|
(1 |
) |
(2,896 | ) | — | — | ||||||||||
|
|
||||||||||||||||
| 28,646,574 | (3,448,506 | ) | (9,088,518 | ) | — | |||||||||||
|
|
||||||||||||||||
| 26,811,373 | 1,161,955 | (7,565,775 | ) | 134 | ||||||||||||
|
|
||||||||||||||||
| $ | 28,995,156 | $ | 2,576,441 | $ | (5,256,639 | ) | $ | 3,529 | ||||||||
|
|
||||||||||||||||
| $ | 1,264 | $ | 118,103 | $ | — | $ | — | |||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 77 |
| Statements of changes in net assets |
TIAA-CREF Life Funds § For the period or year ended
| Growth Equity Fund | ||||||||||
| June 30, 2013 | December 31, 2012 | |||||||||
|
| ||||||||||
| (unaudited) | ||||||||||
| OPERATIONS |
||||||||||
| Net investment income (loss) |
$ | 100,225 | $ | 302,005 | ||||||
| Net realized gain (loss) on total investments |
3,752,581 | 5,035,591 | ||||||||
| Net change in unrealized appreciation (depreciation) on total investments |
1,438,304 | 1,397,561 | ||||||||
|
| ||||||||||
| Net increase (decrease) in net assets from operations |
5,291,110 | 6,735,157 | ||||||||
|
| ||||||||||
| DISTRIBUTIONS TO SHAREHOLDERS |
||||||||||
| From net investment income |
— | (298,477 | ) | |||||||
|
| ||||||||||
| Total distributions |
— | (298,477 | ) | |||||||
|
| ||||||||||
| SHAREHOLDER TRANSACTIONS |
||||||||||
| Subscriptions |
5,957,249 | 4,455,947 | ||||||||
| Reinvestments of distributions |
— | 298,477 | ||||||||
| Redemptions |
(6,861,161 | ) | (9,430,961 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
(903,912 | ) | (4,676,537 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) in net assets |
4,387,198 | 1,760,143 | ||||||||
| NET ASSETS |
||||||||||
| Beginning of period |
42,710,438 | 40,950,295 | ||||||||
|
| ||||||||||
| End of period |
$ | 47,097,636 | $ | 42,710,438 | ||||||
|
| ||||||||||
| Undistributed net investment income (loss) included in net assets |
$ | 111,866 | $ | 11,641 | ||||||
|
| ||||||||||
| CHANGE IN FUND SHARES |
||||||||||
| Shares sold |
294,345 | 245,328 | ||||||||
| Shares reinvested |
— | 15,784 | ||||||||
| Shares redeemed |
(326,089 | ) | (518,843 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
(31,744 | ) | (257,731 | ) | ||||||
|
| ||||||||||
| 78 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Growth & Income Fund | Large-Cap Value Fund | |||||||||||||||
| June 30, 2013 | December 31, 2012 | June 30, 2013 | December 31, 2012 | |||||||||||||
|
|
||||||||||||||||
| (unaudited) | (unaudited) | |||||||||||||||
| $ | 638,858 | $ | 1,228,296 | $ | 698,310 | $ | 1,322,958 | |||||||||
| 5,057,659 | 4,796,619 | 5,147,647 | 5,608,997 | |||||||||||||
| |
6,520,846 |
|
6,673,967 | 5,896,330 | 5,095,012 | |||||||||||
|
|
||||||||||||||||
| 12,217,363 | 12,698,882 | 11,742,287 | 12,026,967 | |||||||||||||
|
|
||||||||||||||||
| — | (1,589,188 | ) | — | (1,313,141 | ) | |||||||||||
|
|
||||||||||||||||
| — | (1,589,188 | ) | — | (1,313,141 | ) | |||||||||||
|
|
||||||||||||||||
| 9,072,623 | 15,446,847 | 8,535,961 | 6,067,463 | |||||||||||||
| — | 1,589,188 | — | 1,313,141 | |||||||||||||
| (5,019,302 | ) | (11,977,388 | ) | (5,193,022 | ) | (6,844,318 | ) | |||||||||
|
|
||||||||||||||||
| 4,053,321 | 5,058,647 | 3,342,939 | 536,286 | |||||||||||||
|
|
||||||||||||||||
| 16,270,684 | 16,168,341 | 15,085,226 | 11,250,112 | |||||||||||||
| 92,408,676 | 76,240,335 | 71,690,628 | 60,440,516 | |||||||||||||
|
|
||||||||||||||||
| $ | 108,679,360 | $ | 92,408,676 | $ | 86,775,854 | $ | 71,690,628 | |||||||||
|
|
||||||||||||||||
| $ | 659,743 | $ | 20,885 | $ | 1,191,612 | $ | 493,302 | |||||||||
|
|
||||||||||||||||
| 270,448 | 522,888 | 264,828 | 216,423 | |||||||||||||
| — | 52,293 | — | 44,710 | |||||||||||||
| (150,603 | ) | (404,918 | ) | (157,572 | ) | (247,176 | ) | |||||||||
|
|
||||||||||||||||
| 119,845 | 170,263 | 107,256 | 13,957 | |||||||||||||
|
|
||||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 79 |
| Statements of changes in net assets |
TIAA-CREF Life Funds § For the period or year ended
| Real Estate Securities Fund | ||||||||||
| June 30, 2013 | December 31, 2012 | |||||||||
|
| ||||||||||
| (unaudited) | ||||||||||
| OPERATIONS |
||||||||||
| Net investment income (loss) |
$ | 935,390 | $ | 1,441,752 | ||||||
| Net realized gain (loss) on total investments |
4,534,648 | 6,045,404 | ||||||||
| Net change in unrealized appreciation (depreciation) on total investments |
(2,159,366 | ) | 8,126,182 | |||||||
|
| ||||||||||
| Net increase (decrease) in net assets from operations |
3,310,672 | 15,613,338 | ||||||||
|
| ||||||||||
| DISTRIBUTIONS TO SHAREHOLDERS |
||||||||||
| From net investment income |
— | (1,696,190 | ) | |||||||
|
| ||||||||||
| Total distributions |
— | (1,696,190 | ) | |||||||
|
| ||||||||||
| SHAREHOLDER TRANSACTIONS |
||||||||||
| Subscriptions |
7,117,715 | 11,678,264 | ||||||||
| Reinvestments of distributions |
— | 1,696,190 | ||||||||
| Redemptions |
(5,511,765 | ) | (10,405,385 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
1,605,950 | 2,969,069 | ||||||||
|
| ||||||||||
| Net increase (decrease) in net assets |
4,916,622 | 16,886,217 | ||||||||
| NET ASSETS |
||||||||||
| Beginning of period |
96,420,818 | 79,534,601 | ||||||||
|
| ||||||||||
| End of period |
$ | 101,337,440 | $ | 96,420,818 | ||||||
|
| ||||||||||
| Undistributed net investment income (loss) included in net assets |
$ | 1,157,428 | $ | 222,038 | ||||||
|
| ||||||||||
| CHANGE IN FUND SHARES |
||||||||||
| Shares sold |
228,541 | 409,017 | ||||||||
| Shares reinvested |
— | 57,970 | ||||||||
| Shares redeemed |
(178,788 | ) | (370,698 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
49,753 | 96,289 | ||||||||
|
| ||||||||||
| 80 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| continued |
| Small-Cap Equity Fund | Social Choice Equity Fund | |||||||||||||||
| June 30, 2013 | December 31, 2012 | June 30, 2013 | December 31, 2012 | |||||||||||||
|
|
||||||||||||||||
| (unaudited) | (unaudited) | |||||||||||||||
| $ | 130,070 | $ | 641,649 | $ | 418,769 | $ | 886,159 | |||||||||
| 6,406,573 | 3,306,497 | 703,417 | 1,201,280 | |||||||||||||
| 625,720 | 3,621,020 | 6,047,169 | 3,215,257 | |||||||||||||
|
|
||||||||||||||||
| 7,162,363 | 7,569,166 | 7,169,355 | 5,302,696 | |||||||||||||
|
|
||||||||||||||||
| — | (672,128 | ) | — | (824,772 | ) | |||||||||||
|
|
||||||||||||||||
| — | (672,128 | ) | — | (824,772 | ) | |||||||||||
|
|
||||||||||||||||
| 3,267,682 | 4,209,450 | 6,208,060 | 3,961,395 | |||||||||||||
| — | 672,128 | — | 824,772 | |||||||||||||
| (31,407,177 | ) | (7,088,125 | ) | (1,964,302 | ) | (2,866,927 | ) | |||||||||
|
|
||||||||||||||||
| (28,139,495 | ) | (2,206,547 | ) | 4,243,758 | 1,919,240 | |||||||||||
|
|
||||||||||||||||
| (20,977,132 | ) | 4,690,491 | 11,413,113 | 6,397,164 | ||||||||||||
| 60,081,272 | 55,390,781 | 43,692,410 | 37,295,246 | |||||||||||||
|
|
||||||||||||||||
| $ | 39,104,140 | $ | 60,081,272 | $ | 55,105,523 | $ | 43,692,410 | |||||||||
|
|
||||||||||||||||
| $ | 97,420 | $ | (32,650 | ) | $ | 635,976 | $ | 217,207 | ||||||||
|
|
||||||||||||||||
| 95,775 | 141,142 | 200,809 | 148,244 | |||||||||||||
| — | 21,815 | — | 29,872 | |||||||||||||
| (957,056 | ) | (239,442 | ) | (63,161 | ) | (106,869 | ) | |||||||||
|
|
||||||||||||||||
| (861,281 | ) | (76,485 | ) | 137,648 | 71,247 | |||||||||||
|
|
||||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 81 |
| Statements of changes in net assets |
TIAA-CREF Life Funds § For the period or year ended
| Stock Index Fund | ||||||||||
| June 30, 2013 | December 31, 2012 | |||||||||
|
| ||||||||||
| (unaudited) | ||||||||||
| OPERATIONS |
||||||||||
| Net investment income (loss) |
$ | 2,183,783 | $ | 4,361,145 | ||||||
| Net realized gain (loss) on total investments |
(1,835,201 | ) | 2,930,112 | |||||||
| Net change in unrealized appreciation (depreciation) on total investments |
28,646,574 | 22,028,074 | ||||||||
|
| ||||||||||
| Net increase (decrease) in net assets from operations |
28,995,156 | 29,319,331 | ||||||||
|
| ||||||||||
| DISTRIBUTIONS TO SHAREHOLDERS |
||||||||||
| From net investment income |
— | (4,344,154 | ) | |||||||
| From realized gains |
— | (1,283,210 | ) | |||||||
|
| ||||||||||
| Total distributions |
— | (5,627,364 | ) | |||||||
|
| ||||||||||
| SHAREHOLDER TRANSACTIONS |
||||||||||
| Subscriptions |
14,434,414 | 21,175,293 | ||||||||
| Reinvestments of distributions |
— | 5,627,364 | ||||||||
| Redemptions |
(13,198,706 | ) | (23,660,941 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
1,235,708 | 3,141,716 | ||||||||
|
| ||||||||||
| Net increase (decrease) in net assets |
30,230,864 | 26,833,683 | ||||||||
| NET ASSETS |
||||||||||
| Beginning of period |
207,089,723 | 180,256,040 | ||||||||
|
| ||||||||||
| End of period |
$ | 237,320,587 | $ | 207,089,723 | ||||||
|
| ||||||||||
| Undistributed net investment income (loss) included in net assets |
$ | 2,728,902 | $ | 545,119 | ||||||
|
| ||||||||||
| CHANGE IN FUND SHARES |
||||||||||
| Shares sold |
416,037 | 684,667 | ||||||||
| Shares reinvested |
— | 178,420 | ||||||||
| Shares redeemed |
(382,014 | ) | (767,386 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
34,023 | 95,701 | ||||||||
|
| ||||||||||
| 82 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| continued |
| International Equity Fund | Bond Fund | |||||||||||||||
| June 30, 2013 | December 31, 2012 | June 30, 2013 | December 31, 2012 | |||||||||||||
|
|
||||||||||||||||
| (unaudited) | (unaudited) | |||||||||||||||
| $ | 1,414,486 | $ | 1,891,116 | $ | 2,309,136 | $ | 4,985,438 | |||||||||
| 4,610,461 | 1,439,688 | 1,522,743 | 3,392,532 | |||||||||||||
| (3,448,506 | ) | 19,976,725 | (9,088,518 | ) | 2,979,381 | |||||||||||
|
|
||||||||||||||||
| 2,576,441 | 23,307,529 | (5,256,639 | ) | 11,357,351 | ||||||||||||
|
|
||||||||||||||||
| — | (1,219,392 | ) | — | (4,986,269 | ) | |||||||||||
| — | — | — | (3,221,472 | ) | ||||||||||||
|
|
||||||||||||||||
| — | (1,219,392 | ) | — | (8,207,741 | ) | |||||||||||
|
|
||||||||||||||||
| 5,673,918 | 15,111,568 | 11,977,532 | 24,296,772 | |||||||||||||
| — | 1,219,392 | — | 8,207,741 | |||||||||||||
| (4,815,613 | ) | (42,672,375 | ) | (7,319,692 | ) | (9,227,257 | ) | |||||||||
|
|
||||||||||||||||
| 858,305 | (26,341,415 | ) | 4,657,840 | 23,277,256 | ||||||||||||
|
|
||||||||||||||||
| 3,434,746 | (4,253,278 | ) | (598,799 | ) | 26,426,866 | |||||||||||
| 77,021,304 | 81,274,582 | 184,563,018 | 158,136,152 | |||||||||||||
|
|
||||||||||||||||
| $ | 80,456,050 | $ | 77,021,304 | $ | 183,964,219 | $ | 184,563,018 | |||||||||
|
|
||||||||||||||||
| $ | 3,221,672 | $ | 1,807,186 | $ | 2,304,389 | $ | (4,747 | ) | ||||||||
|
|
||||||||||||||||
| 326,780 | 1,006,115 | 459,182 | 916,029 | |||||||||||||
| — | 73,903 | — | 314,232 | |||||||||||||
| (278,879 | ) | (2,764,871 | ) | (281,553 | ) | (349,303 | ) | |||||||||
|
|
||||||||||||||||
| 47,901 | (1,684,853 | ) | 177,629 | 880,958 | ||||||||||||
|
|
||||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 83 |
| Statements of changes in net assets | concluded |
TIAA-CREF Life Funds § For the period or year ended
| Money Market Fund | ||||||||
| June 30, 2013 | December 31, 2012 | |||||||
|
|
||||||||
| (unaudited) | ||||||||
| OPERATIONS |
||||||||
| Net investment income (loss) |
$ | 3,395 | $ | 14,189 | ||||
| Net realized gain (loss) on total investments |
134 | 154 | ||||||
| Net change in unrealized appreciation (depreciation) on total investments |
— | — | ||||||
|
|
||||||||
| Net increase (decrease) in net assets from operations |
3,529 | 14,343 | ||||||
|
|
||||||||
| DISTRIBUTIONS TO SHAREHOLDERS |
||||||||
| From net investment income |
(3,395 | ) | (14,189 | ) | ||||
|
|
||||||||
| Total distributions |
(3,395 | ) | (14,189 | ) | ||||
|
|
||||||||
| SHAREHOLDER TRANSACTIONS |
||||||||
| Subscriptions |
64,276,778 | 75,744,818 | ||||||
| Reinvestments of distributions |
3,395 | 14,189 | ||||||
| Redemptions |
(50,734,699 | ) | (72,983,200 | ) | ||||
|
|
||||||||
| Net increase (decrease) from shareholder transactions |
13,545,474 | 2,775,807 | ||||||
|
|
||||||||
| Net increase (decrease) in net assets |
13,545,608 | 2,775,961 | ||||||
| NET ASSETS |
||||||||
| Beginning of period |
62,598,444 | 59,822,483 | ||||||
|
|
||||||||
| End of period |
$ | 76,144,052 | $ | 62,598,444 | ||||
|
|
||||||||
| Undistributed net investment income (loss) included in net assets |
$ | (1,606 | ) | $ | (1,606 | ) | ||
|
|
||||||||
| CHANGE IN FUND SHARES |
||||||||
| Shares sold |
64,276,778 | 75,744,818 | ||||||
| Shares reinvested |
3,395 | 14,189 | ||||||
| Shares redeemed |
(50,734,699 | ) | (72,983,200 | ) | ||||
|
|
||||||||
| Net increase (decrease) from shareholder transactions |
13,545,474 | 2,775,807 | ||||||
|
|
||||||||
| 84 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Financial highlights |
TIAA-CREF Life Funds § For the period or year ended
| Growth Equity Fund | ||||||||||||||||||||||||
| 6/30/13 | 12/31/12 | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | |||||||||||||||||||
|
|
||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
| Net asset value, beginning of period |
$ | 18.89 | $ | 16.26 | $ | 16.01 | $ | 14.18 | $ | 10.55 | $ | 18.02 | ||||||||||||
|
|
||||||||||||||||||||||||
| Gain from investment operations: |
|
|||||||||||||||||||||||
| Net investment income (loss) (a) |
0.04 | 0.12 | 0.05 | 0.07 | 0.11 | 0.14 | ||||||||||||||||||
| Net realized and unrealized gain (loss) on total investments |
2.20 | 2.64 | 0.25 | 1.83 | 3.63 | (7.48 | ) | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Total gain (loss) from investment operations |
2.24 | 2.76 | 0.30 | 1.90 | 3.74 | (7.34 | ) | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Less distributions from: |
| |||||||||||||||||||||||
| Net investment income |
— | (0.13 | ) | (0.05 | ) | (0.07 | ) | (0.11 | ) | (0.13 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Total distributions |
— | (0.13 | ) | (0.05 | ) | (0.07 | ) | (0.11 | ) | (0.13 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Net asset value, end of period |
$ | 21.13 | $ | 18.89 | $ | 16.26 | $ | 16.01 | $ | 14.18 | $ | 10.55 | ||||||||||||
|
|
||||||||||||||||||||||||
| TOTAL RETURN |
11.86 | %(b) | 16.99 | % | 1.85 | % | 13.42 | % | 35.47 | % | (40.71 | )% | ||||||||||||
| RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
| Net assets at end of period (in thousands) |
$ | 47,098 | $ | 42,710 | $ | 40,950 | $ | 37,552 | $ | 36,230 | $ | 24,501 | ||||||||||||
| Ratio of expenses to average net assets before expense reimbursement |
0.71 | %(c) | 0.74 | % | 0.76 | % | 0.63 | % | 0.26 | % | 0.28 | % | ||||||||||||
| Ratio of expenses to average net assets after expense reimbursement |
0.52 | %(c) | 0.52 | % | 0.52 | % | 0.43 | % | 0.26 | % | 0.28 | % | ||||||||||||
| Ratio of net investment income (loss) to average net assets |
0.42 | %(c) | 0.69 | % | 0.29 | % | 0.48 | % | 0.98 | % | 0.98 | % | ||||||||||||
| Portfolio turnover rate |
63 | %(b) | 155 | % | 136 | % | 208 | % | 257 | % | 253 | % | ||||||||||||
|
|
||||||||||||||||||||||||
| (a) | Based on average shares outstanding. |
| (b) | The percentages shown for this period are not annualized. |
| (c) | The percentages shown for this period are annualized. |
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 85 |
| Financial highlights | continued |
TIAA-CREF Life Funds § For the period or year ended
| Growth & Income Fund | ||||||||||||||||||||||||
| 6/30/13 | 12/31/12 | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | |||||||||||||||||||
|
|
||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
| Net asset value, beginning of period |
$ | 30.37 | $ | 26.54 | $ | 26.07 | $ | 23.27 | $ | 18.50 | $ | 29.06 | ||||||||||||
|
|
||||||||||||||||||||||||
| Gain from investment operations: |
|
|||||||||||||||||||||||
| Net investment income (loss) (a) |
0.21 | 0.42 | 0.29 | 0.30 | 0.36 | 0.46 | ||||||||||||||||||
| Net realized and unrealized gain (loss) on total investments |
3.78 | 3.94 | 0.47 | 2.82 | 4.77 | (10.58 | ) | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Total gain (loss) from investment operations |
3.99 | 4.36 | 0.76 | 3.12 | 5.13 | (10.12 | ) | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Less distributions from: |
| |||||||||||||||||||||||
| Net investment income |
— | (0.53 | ) | (0.29 | ) | (0.32 | ) | (0.36 | ) | (0.44 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Total distributions |
— | (0.53 | ) | (0.29 | ) | (0.32 | ) | (0.36 | ) | (0.44 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Net asset value, end of period |
$ | 34.36 | $ | 30.37 | $ | 26.54 | $ | 26.07 | $ | 23.27 | $ | 18.50 | ||||||||||||
|
|
||||||||||||||||||||||||
| TOTAL RETURN |
13.14 | %(b) | 16.43 | % | 2.96 | % | 13.41 | % | 27.76 | % | (34.80 | )% | ||||||||||||
| RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
| Net assets at end of period (in thousands) |
$ | 108,679 | $ | 92,409 | $ | 76,240 | $ | 72,029 | $ | 65,719 | $ | 53,235 | ||||||||||||
| Ratio of expenses to average net assets before expense reimbursement |
0.65 | %(c) | 0.69 | % | 0.70 | % | 0.56 | % | 0.23 | % | 0.23 | % | ||||||||||||
| Ratio of expenses to average net assets after expense reimbursement |
0.52 | %(c) | 0.52 | % | 0.52 | % | 0.42 | % | 0.23 | % | 0.23 | % | ||||||||||||
| Ratio of net investment income (loss) to average net assets |
1.26 | %(c) | 1.41 | % | 1.09 | % | 1.26 | % | 1.77 | % | 1.87 | % | ||||||||||||
| Portfolio turnover rate |
72 | %(b) | 115 | % | 109 | % | 138 | % | 141 | % | 135 | % | ||||||||||||
|
|
||||||||||||||||||||||||
| (a) | Based on average shares outstanding. |
| (b) | The percentages shown for this period are not annualized. |
| (c) | The percentages shown for this period are annualized. |
| 86 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Financial highlights | continued |
TIAA-CREF Life Funds § For the period or year ended
| Large-Cap Value Fund | ||||||||||||||||||||||||
| 6/30/13 | 12/31/12 | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | |||||||||||||||||||
|
|
||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
| Net asset value, beginning of period |
$ | 29.39 | $ | 24.92 | $ | 26.95 | $ | 23.11 | $ | 17.87 | $ | 31.30 | ||||||||||||
|
|
||||||||||||||||||||||||
| Gain from investment operations: |
|
|||||||||||||||||||||||
| Net investment income (loss) (a) |
0.28 | 0.55 | 0.41 | 0.37 | 0.42 | 0.66 | ||||||||||||||||||
| Net realized and unrealized gain (loss) on total investments |
4.40 | 4.47 | (2.03 | ) | 3.87 | 5.20 | (13.42 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Total gain (loss) from investment operations |
4.68 | 5.02 | (1.62 | ) | 4.24 | 5.62 | (12.76 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Less distributions from: |
| |||||||||||||||||||||||
| Net investment income |
— | (0.55 | ) | (0.41 | ) | (0.40 | ) | (0.38 | ) | (0.43 | ) | |||||||||||||
| Net realized gains |
— | — | — | — | — | (0.24 | ) | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Total distributions |
— | (0.55 | ) | (0.41 | ) | (0.40 | ) | (0.38 | ) | (0.67 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Net asset value, end of period |
$ | 34.07 | $ | 29.39 | $ | 24.92 | $ | 26.95 | $ | 23.11 | $ | 17.87 | ||||||||||||
|
|
||||||||||||||||||||||||
| TOTAL RETURN |
15.96 | %(b) | 20.14 | % | (5.95 | )% | 18.36 | % | 31.45 | % | (40.74 | )% | ||||||||||||
| RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
| Net assets at end of period (in thousands) |
$ | 86,776 | $ | 71,691 | $ | 60,441 | $ | 64,277 | $ | 54,447 | $ | 40,302 | ||||||||||||
| Ratio of expenses to average net assets before expense reimbursement |
0.65 | %(c) | 0.70 | % | 0.71 | % | 0.59 | % | 0.25 | % | 0.26 | % | ||||||||||||
| Ratio of expenses to average net assets after expense reimbursement |
0.52 | %(c) | 0.52 | % | 0.52 | % | 0.43 | % | 0.25 | % | 0.26 | % | ||||||||||||
| Ratio of net investment income (loss) to average net assets |
1.70 | %(c) | 1.99 | % | 1.56 | % | 1.52 | % | 2.12 | % | 2.60 | % | ||||||||||||
| Portfolio turnover rate |
31 | %(b) | 77 | % | 80 | % | 102 | % | 149 | % | 172 | % | ||||||||||||
|
|
||||||||||||||||||||||||
| (a) | Based on average shares outstanding. |
| (b) | The percentages shown for this period are not annualized. |
| (c) | The percentages shown for this period are annualized. |
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 87 |
| Financial highlights | continued |
TIAA-CREF Life Funds § For the period or year ended
| Real Estate Securities Fund | ||||||||||||||||||||||||
| 6/30/13 | 12/31/12 | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | |||||||||||||||||||
|
|
||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
| Net asset value, beginning of period |
$ | 29.35 | $ | 24.94 | $ | 23.67 | $ | 18.43 | $ | 15.24 | $ | 26.50 | ||||||||||||
|
|
||||||||||||||||||||||||
| Gain from investment operations: |
|
|||||||||||||||||||||||
| Net investment income (loss) (a) |
0.28 | 0.45 | 0.38 | 0.35 | 0.49 | 0.70 | ||||||||||||||||||
| Net realized and unrealized gain (loss) on total investments |
0.76 | 4.48 | 1.20 | 5.37 | 3.32 | (10.87 | ) | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Total gain (loss) from investment operations |
1.04 | 4.93 | 1.58 | 5.72 | 3.81 | (10.17 | ) | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Less distributions from: |
| |||||||||||||||||||||||
| Net investment income |
— | (0.52 | ) | (0.31 | ) | (0.48 | ) | (0.62 | ) | (1.09 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Total distributions |
— | (0.52 | ) | (0.31 | ) | (0.48 | ) | (0.62 | ) | (1.09 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Net asset value, end of period |
$ | 30.39 | $ | 29.35 | $ | 24.94 | $ | 23.67 | $ | 18.43 | $ | 15.24 | ||||||||||||
|
|
||||||||||||||||||||||||
| TOTAL RETURN |
3.54 | %(b) | 19.79 | % | 6.73 | % | 31.16 | % | 25.11 | % | (38.27 | )% | ||||||||||||
| RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
| Net assets at end of period (in thousands) |
$ | 101,337 | $ | 96,421 | $ | 79,535 | $ | 73,759 | $ | 53,565 | $ | 43,646 | ||||||||||||
| Ratio of expenses to average net assets before expense reimbursement |
0.66 | %(c) | 0.71 | % | 0.71 | % | 0.60 | % | 0.25 | % | 0.26 | % | ||||||||||||
| Ratio of expenses to average net assets after expense reimbursement |
0.57 | %(c) | 0.57 | % | 0.57 | % | 0.48 | % | 0.25 | % | 0.26 | % | ||||||||||||
| Ratio of net investment income (loss) to average net assets |
1.83 | %(c) | 1.59 | % | 1.53 | % | 1.63 | % | 3.37 | % | 2.94 | % | ||||||||||||
| Portfolio turnover rate |
30 | %(b) | 65 | % | 58 | % | 66 | % | 65 | % | 97 | % | ||||||||||||
|
|
||||||||||||||||||||||||
| (a) | Based on average shares outstanding. |
| (b) | The percentages shown for this period are not annualized. |
| (c) | The percentages shown for this period are annualized. |
| 88 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Financial highlights | continued |
TIAA-CREF Life Funds § For the period or year ended
| Small-Cap Equity Fund | ||||||||||||||||||||||||
| 6/30/13 | 12/31/12 | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | |||||||||||||||||||
|
|
||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
| Net asset value, beginning of period |
$ | 30.87 | $ | 27.38 | $ | 28.76 | $ | 22.70 | $ | 17.99 | $ | 27.17 | ||||||||||||
|
|
||||||||||||||||||||||||
| Gain from investment operations: |
|
|||||||||||||||||||||||
| Net investment income (loss) (a) |
0.11 | 0.32 | 0.14 | 0.19 | 0.25 | 0.34 | ||||||||||||||||||
| Net realized and unrealized gain (loss) on total investments |
5.06 | 3.52 | (1.36 | ) | 6.06 | 4.74 | (9.16 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Total gain (loss) from investment operations |
5.17 | 3.84 | (1.22 | ) | 6.25 | 4.99 | (8.82 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Less distributions from: |
| |||||||||||||||||||||||
| Net investment income |
— | (0.35 | ) | (0.16 | ) | (0.19 | ) | (0.28 | ) | (0.36 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Total distributions |
— | (0.35 | ) | (0.16 | ) | (0.19 | ) | (0.28 | ) | (0.36 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Net asset value, end of period |
$ | 36.04 | $ | 30.87 | $ | 27.38 | $ | 28.76 | $ | 22.70 | $ | 17.99 | ||||||||||||
|
|
||||||||||||||||||||||||
| TOTAL RETURN |
16.75 | %(b) | 14.02 | % | (4.23 | )% | 27.55 | % | 27.75 | % | (32.42 | )% | ||||||||||||
| RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
| Net assets at end of period (in thousands) |
$ | 39,104 | $ | 60,081 | $ | 55,391 | $ | 60,435 | $ | 42,921 | $ | 34,609 | ||||||||||||
| Ratio of expenses to average net assets before expense reimbursement |
0.77 | %(c) | 0.75 | % | 0.76 | % | 0.58 | % | 0.11 | % | 0.11 | % | ||||||||||||
| Ratio of expenses to average net assets after expense reimbursement |
0.55 | %(c) | 0.55 | % | 0.55 | % | 0.41 | % | 0.11 | % | 0.11 | % | ||||||||||||
| Ratio of net investment income (loss) to average net assets |
0.64 | %(c) | 1.08 | % | 0.48 | % | 0.75 | % | 1.33 | % | 1.45 | % | ||||||||||||
| Portfolio turnover rate |
37 | %(b) | 118 | % | 100 | % | 98 | % | 107 | % | 123 | % | ||||||||||||
|
|
||||||||||||||||||||||||
| (a) | Based on average shares outstanding. |
| (b) | The percentages shown for this period are not annualized. |
| (c) | The percentages shown for this period are annualized. |
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 89 |
| Financial highlights | continued |
TIAA-CREF Life Funds § For the period or year ended
| Social Choice Equity Fund | ||||||||||||||||||||||||
| 6/30/13 | 12/31/12 | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | |||||||||||||||||||
|
|
||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
| Net asset value, beginning of period |
$ | 27.53 | $ | 24.61 | $ | 25.07 | $ | 21.99 | $ | 16.91 | $ | 27.12 | ||||||||||||
|
|
||||||||||||||||||||||||
| Gain from investment operations: |
|
|||||||||||||||||||||||
| Net investment income (loss) (a) |
0.25 | 0.58 | 0.43 | 0.43 | 0.40 | 0.48 | ||||||||||||||||||
| Net realized and unrealized gain (loss) on total investments |
4.17 | 2.87 | (0.45 | ) | 3.09 | 5.09 | (10.28 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Total gain (loss) from investment operations |
4.42 | 3.45 | (0.02 | ) | 3.52 | 5.49 | (9.80 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Less distributions from: |
| |||||||||||||||||||||||
| Net investment income |
— | (0.53 | ) | (0.44 | ) | (0.44 | ) | (0.41 | ) | (0.32 | ) | |||||||||||||
| Net realized gains |
— | — | — | — | — | (0.09 | ) | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Total distributions |
— | (0.53 | ) | (0.44 | ) | (0.44 | ) | (0.41 | ) | (0.41 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Net asset value, end of period |
$ | 31.95 | $ | 27.53 | $ | 24.61 | $ | 25.07 | $ | 21.99 | $ | 16.91 | ||||||||||||
|
|
||||||||||||||||||||||||
| TOTAL RETURN |
16.06 | %(b) | 14.01 | % | (0.05 | )% | 16.01 | % | 32.51 | % | (36.09 | )% | ||||||||||||
| RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
| Net assets at end of period (in thousands) |
$ | 55,106 | $ | 43,692 | $ | 37,295 | $ | 35,344 | $ | 30,929 | $ | 23,938 | ||||||||||||
| Ratio of expenses to average net assets before expense reimbursement |
0.38 | %(c) | 0.43 | % | 0.49 | % | 0.42 | % | 0.08 | % | 0.07 | % | ||||||||||||
| Ratio of expenses to average net assets after expense reimbursement |
0.22 | %(c) | 0.22 | % | 0.22 | % | 0.17 | % | 0.08 | % | 0.07 | % | ||||||||||||
| Ratio of net investment income (loss) to average net assets |
1.67 | %(c) | 2.16 | % | 1.71 | % | 1.87 | % | 2.20 | % | 2.06 | % | ||||||||||||
| Portfolio turnover rate |
8 | %(b) | 16 | % | 18 | % | 18 | % | 15 | % | 17 | % | ||||||||||||
|
|
||||||||||||||||||||||||
| (a) | Based on average shares outstanding. |
| (b) | The percentages shown for this period are not annualized. |
| (c) | The percentages shown for this period are annualized. |
| 90 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Financial highlights | continued |
TIAA-CREF Life Funds § For the period or year ended
| Stock Index Fund | ||||||||||||||||||||||||
| 6/30/13 | 12/31/12 | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | |||||||||||||||||||
|
|
||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
| Net asset value, beginning of period |
$ | 31.48 | $ | 27.81 | $ | 28.09 | $ | 24.46 | $ | 19.39 | $ | 31.70 | ||||||||||||
|
|
||||||||||||||||||||||||
| Gain from investment operations: |
|
|||||||||||||||||||||||
| Net investment income (loss) (a) |
0.33 | 0.68 | 0.53 | 0.47 | 0.44 | 0.58 | ||||||||||||||||||
| Net realized and unrealized gain (loss) on total investments |
4.08 | 3.87 | (0.28 | ) | 3.63 | 5.05 | (12.34 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Total gain (loss) from investment operations |
4.41 | 4.55 | 0.25 | 4.10 | 5.49 | (11.76 | ) | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Less distributions from: |
| |||||||||||||||||||||||
| Net investment income |
— | (0.68 | ) | (0.53 | ) | (0.47 | ) | (0.42 | ) | (0.51 | ) | |||||||||||||
| Net realized gains |
— | (0.20 | ) | — | — | — | (0.04 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Total distributions |
— | (0.88 | ) | (0.53 | ) | (0.47 | ) | (0.42 | ) | (0.55 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Net asset value, end of period |
$ | 35.89 | $ | 31.48 | $ | 27.81 | $ | 28.09 | $ | 24.46 | $ | 19.39 | ||||||||||||
|
|
||||||||||||||||||||||||
| TOTAL RETURN |
14.01 | %(b) | 16.35 | % | 0.95 | % | 16.79 | % | 28.36 | % | (37.08 | )% | ||||||||||||
| RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
| Net assets at end of period (in thousands) |
$ | 237,321 | $ | 207,090 | $ | 180,256 | $ | 177,274 | $ | 152,314 | $ | 112,938 | ||||||||||||
| Ratio of expenses to average net assets before expense reimbursement |
0.20 | %(c) | 0.25 | % | 0.26 | % | 0.21 | % | 0.06 | % | 0.06 | % | ||||||||||||
| Ratio of expenses to average net assets after expense reimbursement |
0.09 | %(c) | 0.09 | % | 0.09 | % | 0.08 | % | 0.06 | % | 0.06 | % | ||||||||||||
| Ratio of net investment income (loss) to average net assets |
1.93 | %(c) | 2.22 | % | 1.85 | % | 1.86 | % | 2.11 | % | 2.19 | % | ||||||||||||
| Portfolio turnover rate |
4 | %(b) | 6 | % | 6 | % | 7 | % | 7 | % | 7 | % | ||||||||||||
|
|
||||||||||||||||||||||||
| (a) | Based on average shares outstanding. |
| (b) | The percentages shown for this period are not annualized. |
| (c) | The percentages shown for this period are annualized. |
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 91 |
| Financial highlights | continued |
TIAA-CREF Life Funds § For the period or year ended
| International Equity Fund | ||||||||||||||||||||||||
| 6/30/13 | 12/31/12 | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | |||||||||||||||||||
|
|
||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
| Net asset value, beginning of period |
$ | 16.60 | $ | 12.85 | $ | 17.24 | $ | 14.58 | $ | 11.43 | $ | 24.02 | ||||||||||||
|
|
||||||||||||||||||||||||
| Gain from investment operations: |
|
|||||||||||||||||||||||
| Net investment income (loss) (a) |
0.30 | 0.32 | 0.28 | 0.19 | 0.22 | 0.51 | ||||||||||||||||||
| Net realized and unrealized gain (loss) on total investments |
0.26 | 3.70 | (4.41 | ) | 2.67 | 3.40 | (12.53 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Total gain (loss) from investment operations |
0.56 | 4.02 | (4.13 | ) | 2.86 | 3.62 | (12.02 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Less distributions from: |
| |||||||||||||||||||||||
| Net investment income |
— | (0.27 | ) | (0.26 | ) | (0.20 | ) | (0.47 | ) | (0.01 | ) | |||||||||||||
| Net realized gains |
— | — | — | — | — | (0.56 | ) | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Total distributions |
— | (0.27 | ) | (0.26 | ) | (0.20 | ) | (0.47 | ) | (0.57 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Net asset value, end of period |
$ | 17.16 | $ | 16.60 | $ | 12.85 | $ | 17.24 | $ | 14.58 | $ | 11.43 | ||||||||||||
|
|
||||||||||||||||||||||||
| TOTAL RETURN |
3.37 | %(b) | 31.27 | % | (23.88 | )% | 19.63 | % | 31.74 | % | (50.00 | )% | ||||||||||||
| RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
| Net assets at end of period (in thousands) |
$ | 80,456 | $ | 77,021 | $ | 81,275 | $ | 111,732 | $ | 94,015 | $ | 68,240 | ||||||||||||
| Ratio of expenses to average net assets before expense reimbursement |
0.77 | %(c) | 0.80 | % | 0.81 | % | 0.65 | % | 0.30 | % | 0.32 | % | ||||||||||||
| Ratio of expenses to average net assets after expense reimbursement |
0.60 | %(c) | 0.60 | % | 0.60 | % | 0.50 | % | 0.30 | % | 0.32 | % | ||||||||||||
| Ratio of net investment income (loss) to average net assets |
3.55 | %(c) | 2.21 | % | 1.77 | % | 1.30 | % | 1.78 | % | 2.79 | % | ||||||||||||
| Portfolio turnover rate |
54 | %(b) | 111 | % | 108 | % | 117 | % | 116 | % | 185 | % | ||||||||||||
|
|
||||||||||||||||||||||||
| (a) | Based on average shares outstanding. |
| (b) | The percentages shown for this period are not annualized. |
| (c) | The percentages shown for this period are annualized. |
| 92 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Financial highlights | continued |
TIAA-CREF Life Funds § For the period or year ended
| Bond Fund | ||||||||||||||||||||||||
| 6/30/13 | 12/31/12 | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | |||||||||||||||||||
|
|
||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
| Net asset value, beginning of period |
$ | 26.15 | $ | 25.60 | $ | 24.88 | $ | 24.13 | $ | 23.38 | $ | 24.55 | ||||||||||||
|
|
||||||||||||||||||||||||
| Gain from investment operations: |
|
|||||||||||||||||||||||
| Net investment income (loss) (a) |
0.32 | 0.77 | 0.87 | 0.93 | 1.06 | 1.29 | ||||||||||||||||||
| Net realized and unrealized gain (loss) on total investments |
(1.04 | ) | 1.00 | 0.70 | 0.73 | 0.68 | (1.19 | ) | ||||||||||||||||
|
|
||||||||||||||||||||||||
| Total gain (loss) from investment operations |
(0.72 | ) | 1.77 | 1.57 | 1.66 | 1.74 | 0.10 | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Less distributions from: |
| |||||||||||||||||||||||
| Net investment income |
— | (0.74 | ) | (0.85 | ) | (0.91 | ) | (0.99 | ) | (1.27 | ) | |||||||||||||
| Net realized gains |
— | (0.48 | ) | — | — | — | — | |||||||||||||||||
|
|
||||||||||||||||||||||||
| Total distributions |
— | (1.22 | ) | (0.85 | ) | (0.91 | ) | (0.99 | ) | (1.27 | ) | |||||||||||||
|
|
||||||||||||||||||||||||
| Net asset value, end of period |
$ | 25.43 | $ | 26.15 | $ | 25.60 | $ | 24.88 | $ | 24.13 | $ | 23.38 | ||||||||||||
|
|
||||||||||||||||||||||||
| TOTAL RETURN |
(2.75 | )%(b) | 6.91 | % | 6.31 | % | 6.91 | % | 7.40 | % | 0.39 | % | ||||||||||||
| RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
| Net assets at end of period (in thousands) |
$ | 183,964 | $ | 184,563 | $ | 158,136 | $ | 137,000 | $ | 115,865 | $ | 91,953 | ||||||||||||
| Ratio of expenses to average net assets before expense reimbursement |
0.48 | %(c) | 0.53 | % | 0.53 | % | 0.41 | % | 0.10 | % | 0.10 | % | ||||||||||||
| Ratio of expenses to average net assets after expense reimbursement |
0.35 | %(c) | 0.35 | % | 0.35 | % | 0.27 | % | 0.10 | % | 0.10 | % | ||||||||||||
| Ratio of net investment income (loss) to average net assets |
2.50 | %(c) | 2.92 | % | 3.41 | % | 3.66 | % | 4.41 | % | 5.27 | % | ||||||||||||
| Portfolio turnover rate |
73 | %(b) | 174 | % | 92 | % | 67 | % | 147 | % | 92 | % | ||||||||||||
|
|
||||||||||||||||||||||||
| (a) | Based on average shares outstanding. |
| (b) | The percentages shown for this period are not annualized. |
| (c) | The percentages shown for this period are annualized. |
| See notes to financial statements | TIAA-CREF Life Funds § 2013 Semiannual Report | 93 |
| Financial highlights | concluded |
TIAA-CREF Life Funds § For the period or year ended
| Money Market Fund | ||||||||||||||||||||||||
| 6/30/13 | 12/31/12 | 12/31/11 | 12/31/10 | 12/31/09 | 12/31/08 | |||||||||||||||||||
|
|
||||||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
| Net asset value, beginning of period |
$ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | ||||||||||||
|
|
||||||||||||||||||||||||
| Gain from investment operations: |
|
|||||||||||||||||||||||
| Net investment income (loss) (a) |
0.00 | (d) | 0.00 | (d) | 0.00 | (d) | 0.00 | (d) | 0.01 | 0.03 | ||||||||||||||
| Net realized and unrealized gain (loss) on total investments |
— | 0.00 | (d) | 0.00 | (d) | 0.00 | (d) | 0.00 | (d) | — | ||||||||||||||
|
|
||||||||||||||||||||||||
| Total gain (loss) from investment operations |
0.00 | (d) | 0.00 | (d) | 0.00 | (d) | 0.00 | (d) | 0.01 | 0.03 | ||||||||||||||
|
|
||||||||||||||||||||||||
| Less distributions from: |
| |||||||||||||||||||||||
| Net investment income |
(0.00 | )(d) | (0.00 | )(d) | (0.00 | )(d) | (0.00 | )(d) | (0.01 | ) | (0.03 | ) | ||||||||||||
|
|
||||||||||||||||||||||||
| Total distributions |
(0.00 | )(d) | (0.00 | )(d) | (0.00 | )(d) | (0.00 | )(d) | (0.01 | ) | (0.03 | ) | ||||||||||||
|
|
||||||||||||||||||||||||
| Net asset value, end of period |
$ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | ||||||||||||
|
|
||||||||||||||||||||||||
| TOTAL RETURN |
0.01 | %(b) | 0.02 | % | 0.03 | % | 0.12 | % | 0.54 | % | 2.86 | % | ||||||||||||
| RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
| Net assets at end of period (in thousands) |
$ | 76,144 | $ | 62,598 | $ | 59,822 | $ | 61,766 | $ | 74,102 | $ | 117,322 | ||||||||||||
| Ratio of expenses to average net assets before expense waiver and reimbursement |
0.32 | %(c) | 0.39 | % | 0.39 | % | 0.27 | % | 0.09 | % | 0.07 | % | ||||||||||||
| Ratio of expenses to average net assets after expense waiver and reimbursement |
0.15 | %(c) | 0.15 | % | 0.15 | % | 0.12 | % | 0.09 | % | 0.07 | % | ||||||||||||
| Ratio of net investment income (loss) to average net assets |
0.01 | %(c) | 0.02 | % | 0.03 | % | 0.12 | % | 0.58 | % | 2.80 | % | ||||||||||||
|
|
||||||||||||||||||||||||
| (a) | Based on average shares outstanding. |
| (b) | The percentages shown for this period are not annualized. |
| (c) | The percentages shown for this period are annualized. |
| (d) | Amount represents less than $0.01 per share. |
| 94 | 2013 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Notes to financial statements (unaudited) |
TIAA-CREF Life Funds
Note 1—organization and significant accounting policies
TIAA-CREF Life Funds (the “Trust”) is a Delaware statutory trust that is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company. The Trust consists of the following funds: Growth Equity Fund, Growth & Income Fund, Large-Cap Value Fund, Real Estate Securities Fund, Small-Cap Equity Fund, Social Choice Equity Fund, Stock Index Fund, International Equity Fund, Bond Fund and the Money Market Fund (collectively the “Funds” or individually, the “Fund”). The Funds are currently available only through the purchase of variable annuity contracts or variable life insurance policies issued by TIAA-CREF Life Insurance Company (“TIAA-CREF Life”).
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 Net Asset Value per share (“NAV”) for financial reporting purposes may differ from the NAV for processing transactions. The NAV for financial reporting purposes includes security and shareholder transactions through the date of the report. Total return is computed based on the NAV used for processing transactions. The following is a summary of the significant accounting policies consistently followed by the Funds.
Security valuation: For all Funds (other than the Money Market Fund), investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the financial statements. Investments held by the Money Market Fund are recorded at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter accreting or amortizing any discount or premium to its face value at a constant rate until maturity.
Investments and investment income: Securities transactions are accounted for as of the trade date for financial reporting purposes. Interest income is recorded as earned and includes accretion of discounts and amortization of premiums using the effective yield method. Dividend income is recorded on the ex-dividend date. Realized gains and losses on securities transactions are based upon the specific identification method. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Funds estimate the components of distributions received that may be considered return of capital distributions or capital gain distributions.
Most expenses of the Trust can be directly attributed to a fund. Expenses that cannot be directly attributed are allocated to each fund in the Trust based upon the average net assets of each fund.
Foreign currency transactions and translation: Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day using exchange rates obtained from an independent third party. Purchases
| TIAA-CREF Life Funds § 2013 Semiannual Report | 95 |
| Notes to financial statements (unaudited) |
and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is reflected as a component of security gains and losses.
Distributions to shareholders: Distributions to shareholders, which are determined in accordance with income tax regulations, are recorded on the ex-dividend date.
Income taxes: Each Fund is treated separately for income tax purposes. The Funds intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code (“Code”) and will not be subject to income taxes to the extent that they distribute all taxable income each year and comply with various other Code requirements. Therefore, no federal income tax provision is required. Management has analyzed the Funds’ tax positions taken for all open federal income tax years (2009–2012) and has concluded that no provision for federal income tax is required in the Funds’ financial statements.
The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. GAAP. Reclassifications are made to a Fund’s capital accounts for permanent tax differences to reflect income and gains available for distribution (or available capital loss carryforwards) under income tax regulations.
Foreign taxes: The Funds may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. The Funds will accrue such taxes and recoveries as applicable, based upon the current interpretation of tax rules and regulations that exist in the markets in which the Funds invest.
Trustee compensation: The Funds pay the members of the Board of Trustees (“Board”), all of whom are independent, certain remuneration for their services, plus travel and other expenses. Trustees may elect to participate in a deferred compensation plan and defer all or a portion of their compensation. In addition, trustees participate in a long-term compensation plan. Amounts deferred are retained by the Funds until paid. The investment of deferred amounts and the offsetting payable to the trustees are included in other assets and accrued expenses and other payables in the accompanying Statements of Assets and Liabilities. Trustees’ fees, including any deferred and long-term compensation incurred, are reflected in the Statements of Operations.
New accounting pronouncement: In December 2011, the Financial Accounting Standards Board issued Accounting Standard Update (“ASU”) No. 2011-11, Disclosures about Offsetting Assets and Liabilities, and in January 2013, issued ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities (collectively, the “Update”). The Update creates new disclosure requirements requiring entities to disclose both gross and net information for derivatives and other financial instruments that are either offset in the Statements of Assets and Liabilities or subject to an enforceable master netting arrangement or similar agreement. The disclosure requirements are effective for interim and annual
| 96 | 2013 Semiannual Report § TIAA-CREF Life Funds |
| continued |
reporting periods beginning on or after January 1, 2013. The Funds have adopted these new disclosure requirements for this June 30, 2013 semiannual report. Management has evaluated the new disclosure requirements and has determined no additional disclosure is required.
Note 2—valuation of investments
Portfolio investments are valued at fair value utilizing various valuation methods approved by the Board. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:
| • | Level 1—quoted prices in active markets for identical securities |
| • | Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.) |
| • | Level 3—significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments) |
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
A description of the valuation techniques applied to the Funds’ major categories of assets and liabilities measured at fair value follows:
Exchange-traded equity securities, common and preferred stock: Equity securities listed or traded on a national market or exchange are valued based on their sale price on such market or exchange at the close of business on the date of valuation, or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign investments are valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. For events affecting the value of foreign securities between the time when the exchange on which they are traded closes and the time when the Funds’ net assets are calculated, such securities will be valued at fair value in accordance with procedures adopted by the Board. Foreign securities are generally categorized in Level 2 of the fair value hierarchy.
Debt securities: Debt securities 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
| TIAA-CREF Life Funds § 2013 Semiannual Report | 97 |
| Notes to financial statements (unaudited) |
quoted yield for such securities (or those of comparable maturity, quality and type). Debt securities are generally categorized in Level 2 of the fair value hierarchy; in instances where prices, yields, or any other key inputs are unobservable, they are categorized in Level 3 of the hierarchy.
Short-term investments: Short-term investments, excluding investments in registered investment companies, with maturities of 60 days or less are valued at amortized cost. Short-term investments (other than those in the Money Market Fund) with maturities in excess of 60 days are valued in the same manner as debt securities. Short-term investments are generally categorized in Level 2 of the fair value hierarchy. Short-term investments in the Money Market Fund are all valued at amortized cost. Money Market Fund investments are categorized as Level 2 in the fair value hierarchy.
Investments in registered investment companies: These investments are valued at their net asset value on the valuation date. These investments are categorized in Level 1 of the fair value hierarchy.
Futures contracts: Stock and bond index futures, which are traded on commodities exchanges, are valued at the last sale price as of the close of such commodities exchanges and are categorized in Level 1 of the fair value hierarchy.
Options: Purchased and written options listed or traded on a national market or exchange are valued at the last sale price as of the close of such exchange or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy.
Any portfolio security for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value, as determined in good faith using procedures approved by the Board. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized as Level 3.
Transfers between levels are recognized at the end of the reporting period. For the period ended June 30, 2013, there were no material transfers between levels by the Funds.
As of June 30, 2013, 100% of the value of investments in the Small-Cap Equity Fund was valued based on Level 1 inputs.
As of June 30, 2013, the Social Choice Equity Fund held Level 3 securities valued at zero. All other investments were valued based on Level 1 inputs.
As of June 30, 2013, 100% of the value of investments in the Money Market Fund was valued based on Level 2 inputs.
The following table summarizes the market value of the funds’ investments as of June 30, 2013 based on the inputs used to value them:
| 98 | 2013 Semiannual Report § TIAA-CREF Life Funds |
| continued |
| Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
|
|
||||||||||||||||
| Growth Equity |
| |||||||||||||||
| Consumer discretionary* |
$ | 10,336,578 | $ | 922,049 | $ | — | $ | 11,258,627 | ||||||||
| Consumer staples |
655,351 | 454,358 | — | 1,109,709 | ||||||||||||
| Energy |
1,200,805 | — | — | 1,200,805 | ||||||||||||
| Financials |
2,819,617 | 138,436 | — | 2,958,053 | ||||||||||||
| Health care |
7,669,554 | 441,294 | — | 8,110,848 | ||||||||||||
| Industrials |
6,189,786 | — | — | 6,189,786 | ||||||||||||
| Information technology* |
13,326,566 | — | — | 13,326,566 | ||||||||||||
| Materials |
2,319,541 | — | — | 2,319,541 | ||||||||||||
| Short-term investments |
611,465 | — | — | 611,465 | ||||||||||||
|
|
||||||||||||||||
| Total |
$ | 45,129,263 | $ | 1,956,137 | $ | — | $ | 47,085,400 | ||||||||
|
|
||||||||||||||||
| Growth & Income |
||||||||||||||||
| Consumer discretionary |
$ | 16,141,490 | $ | — | $ | — | $ | 16,141,490 | ||||||||
| Consumer staples |
10,321,038 | 1,709,543 | — | 12,030,581 | ||||||||||||
| Energy |
11,118,967 | — | — | 11,118,967 | ||||||||||||
| Financials |
15,690,024 | — | — | 15,690,024 | ||||||||||||
| Health care |
14,825,245 | 1,063,098 | — | 15,888,343 | ||||||||||||
| Industrials |
10,903,044 | 179,321 | — | 11,082,365 | ||||||||||||
| Information technology* |
17,768,572 | 198,628 | — | 17,967,200 | ||||||||||||
| Materials |
4,216,267 | — | — | 4,216,267 | ||||||||||||
| Telecommunication services |
1,736,378 | — | — | 1,736,378 | ||||||||||||
| Utilities |
2,410,867 | — | — | 2,410,867 | ||||||||||||
| Short-term investments |
1,672,764 | — | — | 1,672,764 | ||||||||||||
| Written options** |
(3,418 | ) | — | — | (3,418 | ) | ||||||||||
|
|
||||||||||||||||
| Total |
$ | 106,801,238 | $ | 3,150,590 | $ | — | $ | 109,951,828 | ||||||||
|
|
||||||||||||||||
| Large-Cap Value |
||||||||||||||||
| Consumer discretionary |
$ | 7,447,027 | $ | 187,602 | $ | — | $ | 7,634,629 | ||||||||
| Consumer staples |
3,435,631 | 1,351,493 | — | 4,787,124 | ||||||||||||
| Energy |
12,415,055 | — | — | 12,415,055 | ||||||||||||
| Financials |
20,827,915 | 65,459 | — | 20,893,374 | ||||||||||||
| Health care* |
11,796,614 | 1,078,798 | — | 12,875,412 | ||||||||||||
| Industrials* |
8,448,818 | 107,383 | — | 8,556,201 | ||||||||||||
| Information technology* |
8,342,707 | — | — | 8,342,707 | ||||||||||||
| Materials |
2,411,281 | 331,258 | — | 2,742,539 | ||||||||||||
| Telecommunication services |
2,407,268 | — | — | 2,407,268 | ||||||||||||
| Utilities |
4,389,910 | — | — | 4,389,910 | ||||||||||||
| Short-term investments |
2,379,052 | — | — | 2,379,052 | ||||||||||||
|
|
||||||||||||||||
| Total |
$ | 84,301,278 | $ | 3,121,993 | $ | — | $ | 87,423,271 | ||||||||
|
|
||||||||||||||||
| Real Estate Securities |
||||||||||||||||
| Casinos & gaming |
$ | 264,300 | $ | — | $ | — | $ | 264,300 | ||||||||
| Diversified real estate activities |
— | 321,395 | 3,540 | 324,935 | ||||||||||||
| Diversified REITs |
2,952,990 | — | — | 2,952,990 | ||||||||||||
| Homebuilding |
3,965,500 | — | — | 3,965,500 | ||||||||||||
| Hotels, resorts & cruise lines |
870,320 | — | — | 870,320 | ||||||||||||
| Industrial REITs |
7,098,950 | — | — | 7,098,950 | ||||||||||||
| TIAA-CREF Life Funds § 2013 Semiannual Report | 99 |
| Notes to financial statements (unaudited) |
| Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
|
|
||||||||||||||||
| Real Estate Securities—continued |
||||||||||||||||
| Office REITs |
$ | 9,724,270 | $ | — | $ | — | $ | 9,724,270 | ||||||||
| Real estate operating companies |
2,201,934 | — | — | 2,201,934 | ||||||||||||
| Real estate operating services |
384,320 | — | — | 384,320 | ||||||||||||
| Residential REITs |
18,270,740 | — | — | 18,270,740 | ||||||||||||
| Retail REITs |
22,921,020 | — | — | 22,921,020 | ||||||||||||
| Security and alarm services |
1,389,550 | — | — | 1,389,550 | ||||||||||||
| Specialized REITs |
29,666,520 | — | — | 29,666,520 | ||||||||||||
|
|
||||||||||||||||
| Total |
$ | 99,710,414 | $ | 321,395 | $ | 3,540 | $ | 100,035,349 | ||||||||
|
|
||||||||||||||||
| Stock Index |
||||||||||||||||
| Consumer discretionary |
$ | 30,840,028 | $ | — | $ | — | $ | 30,840,028 | ||||||||
| Consumer staples |
21,362,457 | — | — | 21,362,457 | ||||||||||||
| Energy |
22,240,741 | — | — | 22,240,741 | ||||||||||||
| Financials |
42,702,799 | — | — | 42,702,799 | ||||||||||||
| Health care |
29,065,159 | — | — | 29,065,159 | ||||||||||||
| Industrials |
26,099,776 | — | — | 26,099,776 | ||||||||||||
| Information technology |
40,904,578 | — | 112 | 40,904,690 | ||||||||||||
| Materials |
8,630,187 | — | — | 8,630,187 | ||||||||||||
| Telecommunication services |
5,784,391 | — | — | 5,784,391 | ||||||||||||
| Utilities |
7,844,350 | — | — | 7,844,350 | ||||||||||||
| Short-term investments |
6,313,596 | — | — | 6,313,596 | ||||||||||||
| Futures** |
2,072 | 2,072 | ||||||||||||||
|
|
||||||||||||||||
| Total |
$ | 241,790,134 | $ | — | $ | 112 | $ | 241,790,246 | ||||||||
|
|
||||||||||||||||
| International Equity |
||||||||||||||||
| France |
$ | — | $ | 9,472,834 | $ | — | $ | 9,472,834 | ||||||||
| Germany |
— | 11,017,569 | — | 11,017,569 | ||||||||||||
| India |
— | 3,964,377 | — | 3,964,377 | ||||||||||||
| Japan |
— | 11,760,046 | — | 11,760,046 | ||||||||||||
| Sweden |
— | 5,716,814 | — | 5,716,814 | ||||||||||||
| Switzerland |
— | 12,726,614 | — | 12,726,614 | ||||||||||||
| United Kingdom |
— | 19,072,991 | — | 19,072,991 | ||||||||||||
| Other* |
1,003,756 | 5,460,318 | — | 6,464,074 | ||||||||||||
| Short-term investments |
4,795,142 | — | — | 4,795,142 | ||||||||||||
|
|
||||||||||||||||
| Total |
$ | 5,798,898 | $ | 79,191,563 | $ | — | $ | 84,990,461 | ||||||||
|
|
||||||||||||||||
| Bond |
||||||||||||||||
| Bank loan obligations |
$ | — | $ | 720,687 | $ | — | $ | 720,687 | ||||||||
| Corporate bonds |
— | 70,234,182 | — | 70,234,182 | ||||||||||||
| Government bonds |
— | 89,627,923 | — | 89,627,923 | ||||||||||||
| Structured assets |
— | 15,982,900 | — | 15,982,900 | ||||||||||||
| Preferred stocks |
104,210 | — | — | 104,210 | ||||||||||||
| Short-term investments |
— | 5,699,416 | — | 5,699,416 | ||||||||||||
|
|
||||||||||||||||
| Total |
$ | 104,210 | $ | 182,265,108 | $ | — | $ | 182,369,318 | ||||||||
|
|
||||||||||||||||
| * | Includes American Depositary Receipts in Level 1. |
| ** | Derivative instruments are not reflected in the summary portfolio of investments. |
| 100 | 2013 Semiannual Report § TIAA-CREF Life Funds |
| continued |
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 Funds value derivatives at fair value.
At June 30, 2013, the following Funds have invested in derivative contracts which are reflected in the Statements of Assets and Liabilities:
| Asset derivatives | Liabilities derivatives | |||||||||||||||||
| Derivative contracts | Location | Fair value amount |
Location | Fair value amount |
||||||||||||||
|
|
||||||||||||||||||
| Growth & Income Fund |
||||||||||||||||||
| Equity contracts |
$ | — | Written options | $ | 3,418 | |||||||||||||
|
|
||||||||||||||||||
| Small-Cap Equity Fund |
||||||||||||||||||
| Equity contracts |
Futures | * | 7,299 | — | ||||||||||||||
|
|
||||||||||||||||||
| Stock Index Fund |
||||||||||||||||||
| Equity contracts |
Futures | * | 6,853 | — | ||||||||||||||
|
|
||||||||||||||||||
| * | 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 for variation margin on open futures contracts. |
For the period ended June 30, 2013, the effect of derivative contracts on the Funds’ Statements of Operations was as follows:
| Derivative contracts | Location | Realized gain (loss) |
Change in unrealized appreciation (depreciation) |
|||||||||
|
|
||||||||||||
| Growth Equity Fund |
||||||||||||
| Equity contracts |
Written options | $ | (2,264 | ) | $ | — | ||||||
|
|
||||||||||||
| Growth & Income Fund |
||||||||||||
| Equity contracts |
Written options | 51,211 | 3,609 | |||||||||
|
|
||||||||||||
| Real Estate Securities Fund |
||||||||||||
| Equity contracts |
Written options | (15,800 | ) | — | ||||||||
|
|
||||||||||||
| Small-Cap Equity Fund |
||||||||||||
| Equity contracts |
Futures transactions | 62,373 | (4,374 | ) | ||||||||
|
|
||||||||||||
| Stock Index Fund |
||||||||||||
| Equity contracts |
Futures transactions | 323,917 | 7,344 | |||||||||
|
|
||||||||||||
Futures contracts: Certain Funds are subject to equity price risk in the normal course of pursuing their investment objectives. The Funds may use futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon
| TIAA-CREF Life Funds § 2013 Semiannual Report | 101 |
| Notes to financial statements (unaudited) |
entering into a futures contract, and variation margin receipts or payments are settled daily reflecting changes in the value of the futures contracts. Futures contracts are valued at the last sale price as of the close of the board of trade or exchange on which they are traded. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures, there is minimal counterparty credit risk to the Funds since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures against default. During the period ended June 30, 2013, the Small-Cap Equity Fund and the Stock Index Fund had exposure to futures contracts, based on underlying notional values, generally between 0% and 2% and 0% and 3% of net assets, respectively.
At June 30, 2013, the Funds held the following open futures contracts:
| Fund | Futures | Number of contracts |
Market value |
Expiration date | Unrealized gain (loss) |
|||||||||||
|
|
||||||||||||||||
| Small-Cap Equity |
Russell 2000 Mini Index | 7 | $ | 682,290 | September 2013 | $ | 7,299 | |||||||||
|
|
||||||||||||||||
| Stock Index |
S&P 500 E Mini Index | 12 | 959,580 | September 2013 | 4,245 | |||||||||||
| Russell 2000 Mini Index | 1 | 97,470 | September 2013 | 1,102 | ||||||||||||
| S&P MidCap 400 E Mini Index |
1 | 115,790 | September 2013 | 1,506 | ||||||||||||
|
|
||||||||||||||||
| Total |
14 | $ | 1,172,840 | $ | 6,853 | |||||||||||
|
|
||||||||||||||||
Options: Certain Funds are subject to equity price risk in the normal course of pursuing their investment objectives. The Funds use options contracts for hedging and cash management purposes and to seek to increase total return. Call and put options give the holder the right, in return for a premium paid, to purchase or sell, respectively, a security at a specified exercise price at any time during the period of the option. Written options are separately reflected as a liability in the Statements of Assets and Liabilities. Premiums on unexercised, expired options are recorded as realized gains or losses; premiums on exercised options are recorded as an adjustment to the proceeds from the sale or cost of the purchase. The difference between the premium and the amount received or paid in a closing transaction is also treated as a realized gain or loss. Risks related to the use of options include possible illiquidity of the options markets, price movements in underlying security values, and losses may exceed amounts recognized on the Statements of Assets and Liabilities. During the period ended June 30, 2013, the Growth Equity Fund, the Growth & Income Fund and the Real Estate Securities Fund had exposure to options, based on underlying nominal values, generally between 0% and 1% of net assets, 0% and 2% of net assets and 0% and 1% of net assets, respectively.
| 102 | 2013 Semiannual Report § TIAA-CREF Life Funds |
| continued |
Written options outstanding as of June 30, 2013, were as follows:
| Fund | Number of contracts |
Value | ||||||
|
|
||||||||
| Growth & Income Fund |
||||||||
| Alexion Pharmaceuticals, Inc., Call, 07/20/13 at $115 |
4 | $ | (360 | ) | ||||
| American International Group Inc., Call, 07/05/13 at $46.50 |
9 | (81 | ) | |||||
| Celgene Corp, Call, 06/28/13 at $120 |
3 | (3 | ) | |||||
| Celgene Corp, Call, 07/05/13 at $122 |
3 | (135 | ) | |||||
| Cree, Inc., Call, 06/28/13 at $63.50 |
2 | (62 | ) | |||||
| Cree, Inc., Call, 07/05/13 at $66 |
6 | (246 | ) | |||||
| Google, Inc., Call, 06/28/13 at $890 |
1 | (1 | ) | |||||
| Green Mountain Coffee Roasters, Inc., Call, 06/28/13 at $76 |
6 | (6 | ) | |||||
| Monsanto Co., Call, 07/05/13 at $101 |
12 | (348 | ) | |||||
| Monsanto Co., Call, 07/05/13 at $102 |
9 | (135 | ) | |||||
| NetFlix, Inc., Call, 06/28/13 at $230 |
1 | (1 | ) | |||||
| Philip Morris International, Inc., Call, 07/20/13 at $90 |
12 | (420 | ) | |||||
| Qualcomm, Inc., Call, 07/05/13 at $60 |
12 | (1,620 | ) | |||||
|
|
||||||||
| Total |
80 | $ | (3,418 | ) | ||||
|
|
||||||||
Transactions in written options and related premiums received during the period ended June 30, 2013, were as follows:
| Number of contracts |
Premiums | |||||||
|
|
||||||||
| Growth Equity Fund |
||||||||
| Outstanding at beginning of period |
— | $ | — | |||||
| Written |
52 | 3,753 | ||||||
| Purchased |
(13 | ) | (1,784 | ) | ||||
| Exercised |
(3 | ) | (375 | ) | ||||
| Expired |
(36 | ) | (1,594 | ) | ||||
|
|
||||||||
| Outstanding at end of period |
— | $ | — | |||||
|
|
||||||||
| Growth & Income Fund |
||||||||
| Outstanding at beginning of period |
15 | $ | 2,716 | |||||
| Written |
1,630 | 61,093 | ||||||
| Purchased |
(309 | ) | (12,777 | ) | ||||
| Exercised |
(469 | ) | (16,448 | ) | ||||
| Expired |
(787 | ) | (30,134 | ) | ||||
|
|
||||||||
| Outstanding at end of period |
80 | $ | 4,450 | |||||
|
|
||||||||
Note 4—investment adviser and affiliates
Teachers Advisors, Inc. (“Advisors”), a wholly owned subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”) and a registered investment adviser, provides investment advisory services for the Funds pursuant to an Investment Advisory Agreement between Advisors and the Funds. The Funds have also entered into an Administrative Service Agreement with Advisors under which
| TIAA-CREF Life Funds § 2013 Semiannual Report | 103 |
| Notes to financial statements (unaudited) |
the Funds pay Advisors for its costs in providing certain administrative and operational oversight services to the Funds.
Beginning May 29, 2013, Advisors began waiving a portion of the investment management fees for the Money Market Fund. This waiver is voluntary in nature and can be discontinued at any time. The amounts waived are disclosed on the Statements of Operations.
As part of the Advisory Agreement, Advisors has agreed to reimburse each Fund if its total expense ratio (excluding interest, taxes, brokerage and other transactional expenses, acquired fund fees and expenses and extraordinary expenses) exceeds certain percentages. As of June 30, 2013, the investment management fees and maximum expense amounts (after waivers and reimbursements) are equal to the following noted annual percentage of average daily net assets:
| Fund | Investment management fee |
Maximum expense amounts* |
||||||
|
|
||||||||
| Growth Equity |
0.45% | 0.52% | ||||||
| Growth & Income |
0.45% | 0.52% | ||||||
| Large-Cap Value |
0.45% | 0.52% | ||||||
| Real Estate Securities |
0.50% | 0.57% | ||||||
| Small-Cap Equity |
0.48% | 0.55% | ||||||
| Social Choice Equity |
0.15% | 0.22% | ||||||
| Stock Index |
0.06% | 0.09% | ||||||
| International Equity |
0.50% | 0.60% | ||||||
| Bond |
0.30% | 0.35% | ||||||
| Money Market |
0.10% | 0.15% | ||||||
|
|
||||||||
| * | Maximum expense amounts reflect the majority of expenses, excluding interest, taxes, brokerage and other transactional expenses, acquired fund fees and expenses and extraordinary expenses. The expense reimbursement arrangements will continue through at least April 30, 2014. The reimbursement arrangements can only be changed with the approval of the Board of Trustees. |
The Funds may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Board, pursuant to the 1940 Act. These transactions are effected at market rates without incurring broker commissions.
Certain registered separate accounts of TIAA-CREF Life, which is a wholly owned subsidiary of TIAA, have various sub-accounts which invest in the Funds. Additionally, at the commencement of operations of each Fund, TIAA, an affiliate, invested in each Fund. During the period ended June 30, 2013, TIAA received total proceeds of $28,863,147 from the redemption of its investment in the Small-Cap Equity Fund.
| 104 | 2013 Semiannual Report § TIAA-CREF Life Funds |
| continued |
The following is the percentage of the Funds’ shares owned by affiliates as of June 30, 2013:
| Fund | Investments in funds held by TIAA-CREF Life |
Investments in funds held by TIAA |
Percentage of shares |
|||||||||
|
|
||||||||||||
| Growth Equity |
100 | % | — | % | 100 | % | ||||||
| Growth & Income |
84 | 16 | 100 | |||||||||
| Large-Cap Value |
63 | 37 | 100 | |||||||||
| Real Estate Securities |
56 | 44 | 100 | |||||||||
| Small-Cap Equity |
100 | — | 100 | |||||||||
| Social Choice Equity |
71 | 29 | 100 | |||||||||
| Stock Index |
100 | — | 100 | |||||||||
| International Equity |
100 | — | 100 | |||||||||
| Bond |
60 | 40 | 100 | |||||||||
| Money Market |
100 | — | 100 | |||||||||
|
|
||||||||||||
Note 5—investments
Securities lending: Certain Funds may lend their securities to qualified institutional borrowers to earn additional income. A Fund receives collateral (in the form of cash, Treasury securities or other collateral permitted by applicable law) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of loaned securities during the period of the loan. Cash collateral received by a Fund will generally be invested in high-quality short-term instruments, or in one or more funds maintained by the securities lending agent for the purpose of investing cash collateral. The value of the loaned securities and the liability to return the cash collateral received are reflected in the Statements of Assets and Liabilities. Securities lending income consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and compensation to the lending agent. Such income is reflected separately in the Statements of Operations. In lending its securities, the Fund bears the market risk with respect to the collateral investment as well as the securities loaned and also bears the risk that the counterparty may default on its obligations to the Fund.
Securities purchased on a when-issued or delayed-delivery basis: The Funds may purchase securities on a when-issued or delayed-delivery basis. Securities purchased or sold on a when-issue or delayed-delivery basis may be settled a month or more after trade date; interest income is not accrued until settlement date. At the time a Fund enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its when-issued or delayed-delivery purchase commitments.
Restricted securities: Restricted securities held by the Funds, 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.
| TIAA-CREF Life Funds § 2013 Semiannual Report | 105 |
| Notes to financial statements (unaudited) |
Net unrealized appreciation (depreciation): At June 30, 2013, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation, was as follows:
| Fund | Tax cost | Gross unrealized appreciation |
Gross unrealized (depreciation) |
Net unrealized appreciation (depreciation) |
||||||||||||
|
|
||||||||||||||||
| Growth Equity |
$ | 41,144,659 | $ | 6,958,318 | $ | (1,017,577 | ) | $ | 5,940,741 | |||||||
| Growth & Income |
92,197,127 | 19,019,801 | (1,261,682 | ) | 17,758,119 | |||||||||||
| Large-Cap Value |
79,565,527 | 11,301,217 | (3,443,473 | ) | 7,857,744 | |||||||||||
| Real Estate Securities |
89,825,905 | 11,980,320 | (1,770,876 | ) | 10,209,444 | |||||||||||
| Small-Cap Equity |
35,643,880 | 6,520,537 | (1,196,798 | ) | 5,323,739 | |||||||||||
| Social Choice Equity |
43,179,744 | 14,457,898 | (2,941,660 | ) | 11,516,238 | |||||||||||
| Stock Index |
182,761,275 | 78,896,672 | (19,869,773 | ) | 59,026,899 | |||||||||||
| International Equity |
81,670,901 | 7,298,297 | (3,978,737 | ) | 3,319,560 | |||||||||||
| Bond |
184,152,955 | 2,825,752 | (4,609,389 | ) | (1,783,637 | ) | ||||||||||
|
|
||||||||||||||||
Purchases and sales: Purchases and sales of securities (other than short-term instruments) for all of the Funds for the period ended June 30, 2013 were as follows:
| Fund | Non-U.S. government purchases |
U.S. government purchases |
Non-U.S. government sales |
U.S. government sales |
||||||||||||
|
|
||||||||||||||||
| Growth Equity |
$ | 29,244,462 | $ | — | $ | 30,590,723 | $ | — | ||||||||
| Growth & Income |
77,018,989 | — | 72,345,659 | — | ||||||||||||
| Large-Cap Value |
28,233,013 | — | 24,881,980 | — | ||||||||||||
| Real Estate Securities |
34,825,467 | — | 30,338,417 | — | ||||||||||||
| Small-Cap Equity |
14,803,521 | — | 43,199,742 | — | ||||||||||||
| Social Choice Equity |
8,277,505 | — | 3,775,065 | — | ||||||||||||
| Stock Index |
11,819,247 | — | 8,126,381 | — | ||||||||||||
| International Equity |
42,400,386 | — | 39,876,790 | — | ||||||||||||
| Bond |
60,082,013 | 87,745,321 | 69,245,847 | 63,115,642 | ||||||||||||
|
|
||||||||||||||||
| 106 | 2013 Semiannual Report § TIAA-CREF Life Funds |
| concluded |
Note 6—distributions to shareholders and other tax items
The tax character of distributions paid to shareholders during the year ended December 31, 2012 was as follows:
|
|
2012 |
|
||||||||||
| Fund | Ordinary income |
Long-term capital gains |
Total | |||||||||
|
|
||||||||||||
| Growth Equity |
$ | 298,477 | $ | — | $ | 298,477 | ||||||
| Growth & Income |
1,583,060 | 6,128 | 1,589,188 | |||||||||
| Large-Cap Value |
1,313,141 | — | 1,313,141 | |||||||||
| Real Estate Securities |
1,696,190 | — | 1,696,190 | |||||||||
| Small-Cap Equity |
672,128 | — | 672,128 | |||||||||
| Social Choice Equity |
824,772 | — | 824,772 | |||||||||
| Stock Index |
4,344,154 | 1,283,210 | 5,627,364 | |||||||||
| International Equity |
1,219,392 | — | 1,219,392 | |||||||||
| Bond |
6,398,349 | 1,809,392 | 8,207,741 | |||||||||
| Money Market |
14,189 | — | 14,189 | |||||||||
|
|
||||||||||||
The tax character of the fiscal year 2013 distributions will be determined at the end of the fiscal year.
Note 7—line of credit
Each of the Funds, except the Money Market Fund, participates in a $1.5 billion unsecured revolving credit facility that can be used for temporary purposes, including, without limitation, the funding of shareholder redemptions. This facility expired June 2013. A new facility was entered into on June 25, 2013 expiring June 24, 2014. 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 funds at a specified rate of interest. The Funds are not liable for borrowings under the facility by other affiliated accounts or mutual funds. For the period ended June 30, 2013, there were no borrowings under this credit facility by the Funds.
Note 8—indemnification
In the normal course of business, each Fund enters into contracts that contain a variety of representations and warranties and that provide general indemnities. A Fund’s maximum exposure under these arrangements is unknown, as this would involve future claims against the Fund that have not yet occurred. Also, under the Funds’ organizational documents, the trustees and officers of the Funds are indemnified against certain liabilities that may arise out of their duties to the Funds. However, based on experience, the Funds expect the risk of loss due to these warranties and indemnities to be unlikely.
| TIAA-CREF Life Funds § 2013 Semiannual Report | 107 |
| Board renewal of the investment management agreement (unaudited) |
Among its other duties, the Board of Trustees (the “Board” or the “Trustees”) of the TIAA-CREF Life Funds (the “Trust”) is responsible for determining whether to initially approve for a two-year term and subsequently annually renew the investment management agreement (the “Agreement”) between Teachers Advisors, Inc. (“TAI”) and the Trust on behalf of each of its series (the “Funds”). Under the Agreement, TAI is responsible for providing investment advisory services and overseeing the everyday operations and other service providers of the Funds.
Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”) requires that, after an initial period of up to two years, the Agreement for each Fund will remain in effect only if the Board, including a majority of those Trustees who have no direct or indirect interest in the Agreement, and who are not “interested persons” of the Trust, as that term is defined in the 1940 Act, annually renews that Agreement. All of the Trustees are deemed to be independent persons for this purpose.
Overview of the renewal process
The Board held a meeting on March 28, 2013, at which it considered the annual renewal of the Agreement with respect to each Fund. As part of this process, the Board delegated certain tasks to its Operations Committee. Among these tasks, the Operations Committee worked with TAI and legal counsel to the Trustees to develop guidelines and specific requests relating to the types of information to be provided to the Committee and to the Board in connection with the proposed contract renewals, and then helped evaluate the information provided in response to those guidelines. During a series of meetings held prior to the March 28, 2013 Board meeting, the Operations Committee reviewed such guidelines and requests in consultation with TAI representatives and input from other Trustees, legal counsel to the Trustees and legal counsel to TAI and the Funds, and then evaluated the information produced in accordance with those guidelines and requests.
Among other matters, the Operations Committee, following its consultations with others as noted above, confirmed or established various guidelines regarding the preparation of reports to be provided to the Board with respect to each Fund by the Global Fiduciary Review unit of Lipper, Inc. (“Lipper”), including meeting with representatives of Lipper in person. Lipper is an independent provider of investment company data that is widely recognized as a leading source of independent data used by independent directors and trustees of investment companies during their advisory contract review processes.
Based on guidelines provided by the Operations Committee on behalf of the Board, Lipper produced, among other information, performance and expense comparison data regarding each Fund, including data relating to each Fund’s management fee rates, total expense ratios, short-term and long-term investment performance and portfolio turnover rates. Lipper also compared much of this data for each Fund against a universe of investment companies and against a more selective peer group of mutual funds that underlie variable products with similar investment objectives and strategies, each of which was selected by Lipper, and, in the case of the
| 108 | 2013 Semiannual Report § TIAA-CREF Life Funds |
investment performance data, against one or more appropriate broad-based benchmark indices. In each case, Lipper summarized the methodologies it employed to provide the data contained in its reports. In addition, Lipper represented to the Board that its reports were designed specifically to provide the Board with the fee, expense and performance information that is necessary to help the Board satisfy its duties under Section 15(c) of the 1940 Act. Lipper also represented that it (and not TAI) had identified the selected comparative peer groups and universes and that it did so in a manner that was not intended to produce biased results for its clients.
Among other matters, the Operations Committee also requested and reviewed various information provided by TAI to facilitate the Trustees’ evaluation of the reasonableness of any profits earned by TAI with respect to its services to each Fund pursuant to the Agreement.
In advance of the Board meeting held on March 28, 2013, legal counsel for the Trustees requested on behalf of the Board, and TAI provided, extensive information that was designed to assist the Board in its consideration of whether to renew the Agreement for each Fund. In addition to the data provided by Lipper as described above, this information included, but was not limited to, the following: (1) further information relating to each Fund’s investment performance, including performance ratings provided by Morningstar, Inc. (“Morningstar”), which is a widely recognized mutual fund ranking service, and a narrative analysis of the performance of each Fund that had underperformed its Lipper peer group or, for the Stock Index Fund only, its benchmark index by a specified amount over a three-year period, together with an explanation of any events that had a material impact on the Fund’s performance during that period; (2) a description of any fee waiver or expense reimbursement arrangements that were proposed or were in place during the prior year and the extent to which such arrangements would be continued or modified in the coming year; (3) a comparison of each Fund’s fee rate under the Agreement to the fee rates of any other comparable accounts managed by TAI or its affiliates; (4) any “fall-out” benefits that accrued or were identified as reasonably likely to accrue to TAI or its affiliates due to their relationship with the Funds aside from TAI’s direct fee payments pursuant to the Agreement; (5) information regarding TAI’s financial resources, senior professional personnel, overall staffing levels, portfolio manager compensation arrangements, business continuity plans, insurance coverage, compliance programs, any material pending litigation or compliance issues, portfolio trading and best execution practices, and any actual and potential conflicts of interest identified by TAI in connection with rendering services to the Funds; (6) information as to any profits earned by TAI in connection with its services pursuant to the Agreement; (7) a copy of the Agreement and certain related service agreements between the Funds and affiliates of TAI; (8) a copy of TAI’s Form ADV registration statement as filed with the Securities and Exchange Commission (which was presented only to legal counsel for the Trustees); and (9) proposed narrative explanations of reasons why the Board should renew the Agreement.
In considering whether to renew the Agreement with respect to each Fund, the Board, with assistance from its Operations Committee, reviewed various factors with
| TIAA-CREF Life Funds § 2013 Semiannual Report | 109 |
| Board renewal of the investment management agreement (unaudited) |
respect to the Fund, including: (1) the nature, extent and quality of services provided or to be provided by TAI to the Fund; (2) the Fund’s investment performance; (3) the costs of the services provided to the Fund and the profits realized or potential profits to be realized (if any) by TAI and its affiliates from their relationship with the Fund; (4) the extent to which economies of scale have been realized or are anticipated to be realized as the Fund grows; (5) fees charged by other advisers for managing similar funds; (6) whether the fee schedule set forth in the Agreement reflects any such economies of scale for the benefit of Fund investors; (7) comparisons of services and fee rates with any contracts entered into by TAI with other clients to whom TAI provides comparable services; and (8) any other benefits derived or anticipated to be derived by TAI or its affiliates from their relationship with the Fund. As a general matter, the Board viewed these factors in their totality, with no single factor being the principal factor in determining whether to renew the Agreement.
In reaching its decisions regarding the renewal of the Agreement for each Fund, the Board took into account the information described above, other information provided to the Board in connection with this process, and relevant information provided to the Board and to its Committees on an ongoing basis in connection with the Board’s general oversight duties with respect to the Funds. In addition, the Board received and considered information from its legal counsel as to certain relevant guidelines that relate to the renewal process under Section 15(c) of the 1940 Act and certain other legal authorities.
While the Board considered the Agreement with respect to all Funds, the Board received and considered Fund-specific information and made its renewal determinations on a Fund-by-Fund basis. In deciding whether to renew the Agreement for each Fund, each Trustee may have accorded different weight to different factors, and thus, each Trustee may have had a different basis for his or her ultimate decision to vote to renew the Agreement for each Fund. At its meeting on March 28, 2013, the Board voted unanimously to renew the Agreement for each Fund. Set forth below are certain general factors the Board considered for all of the Funds, followed by a summary of certain specific factors the Board considered for each particular Fund.
The nature, extent and quality of services
The Board considered that TAI is an experienced investment adviser that has managed the Funds since their operations commenced. Investment professionals at TAI also manage various accounts of the College Retirement Equities Fund (“CREF”), the TIAA-CREF Funds and the TIAA Separate Account VA-1. Under the Agreement, TAI is responsible for, among other duties: managing the assets of the Funds, including conducting research, recommending investments and placing orders to buy and sell securities for the Funds’ investment portfolios; active daily monitoring of the investment portfolios by various personnel with specific responsibility for the particular types of investments in question; reporting on the investment performance of the Funds to the Board on a regular basis; and carrying
| 110 | 2013 Semiannual Report § TIAA-CREF Life Funds |
| continued |
out, or overseeing the provision of, various administrative services to the Funds. The Board considered that TAI has carried out these responsibilities in a competent and professional manner.
The Board also considered, among other factors, the performance of each of the Funds, as discussed below. In addition, the Board considered the nature and quality of non-portfolio management services provided by TAI and its affiliates. In this regard, the Board considered its ongoing review of the performance of certain affiliated and unaffiliated service providers, including the quality of services provided by those firms and TAI’s oversight of those service providers and the outsourcing of certain services to other firms.
Investment performance
The Board considered the investment performance of each Fund, over the periods indicated in the Fund-by-Fund synopsis below. The Board considered each Fund’s performance as compared to its peer group and peer universe (as applicable) and its benchmark index. The Board also reviewed the performance of the Stock Index Fund before any reductions for fees or expenses. This analysis considered the impact of NAV rounding and excluded the effects of fair valuation, securities lending and class action litigation on the Stock Index Fund’s performance as compared to the performance of its benchmark index. In this regard, the Board considered that the performance of most Funds generally compared favorably to their respective benchmarks (after considering the effect of expenses incurred to operate the Funds) and, with some exceptions, the Funds ranked in the top three performance quintiles versus their peer groups and universes of mutual funds. (For additional detail regarding each Fund’s performance, see the Fund-by-Fund synopsis below.) The Board considered that, in those cases in which a Fund had underperformed its benchmark, peer group or peer universe of mutual funds for an extended period of time, TAI had represented that it had taken or was planning to implement affirmative actions reasonably designed to enhance the Fund’s investment performance, or TAI had explained to the Board’s satisfaction that no such actions were necessary. Thus, the Board concluded that, under the totality of circumstances considered, the investment performance of each Fund was within an acceptable range or that appropriate actions had been or were being implemented.
Cost and profitability
The Board considered financial and profitability data relating to TAI for the calendar year 2012 with respect to the Funds. The Board considered TAI’s profit calculations with respect to its services to each Fund both before and after taking into account the costs incurred directly or indirectly by TAI in connection with the distribution of shares of the Fund. The Board acknowledged the reasonableness of having management fee rates that permit TAI to maintain and improve the quality of services provided to the Funds. The Board considered that TAI had incurred losses with respect to most of the Funds under the Agreement and that TAI expected this trend to continue for certain Funds including the Stock Index, Social Choice Equity
| TIAA-CREF Life Funds § 2013 Semiannual Report | 111 |
| Board renewal of the investment management agreement (unaudited) |
and Money Market Funds. TAI’s losses on the Money Market Fund were due to ongoing advisory and other waivers by TAI and its affiliates necessary to maintain a Fund yield of at least 0.00%. For other Funds, the profits earned or losses incurred were small and demonstrated TAI’s current expectation that these Funds would operate near break-even levels under their current arrangements. With respect to those Funds for which the Agreement was profitable to TAI in 2012, the Board concluded that those profits were not excessive in light of various relevant factors.
During its review of TAI’s profits, the Board noted its ongoing efforts to examine the level of personnel and other resources available to TAI for its portfolio management functions so as to assess whether sufficient resources are being devoted to these functions.
Fees charged by other advisers
The Board considered information regarding fees paid to other advisers for managing similar funds that underlie variable products, as analyzed by Lipper. The Board determined that the management fee rates charged to a Fund under the Agreement typically were lower than the management fee rates charged by many or most other comparable mutual funds that underlie variable products. In this connection, the Board also considered the inherent limitations of such comparisons in light of uncertainty as to how the fees of such similar mutual funds that underlie variable products are set and potentially material differences between a Fund and its comparable mutual funds. Additionally, the Board considered the potential limitations of such comparisons due to the fact that, in many instances, Lipper based its comparisons on financial data relating to fiscal periods that differed from the period for which the Fund’s data were derived. Based on all factors considered, the Board concluded that the management fee rates under the Agreement with respect to each Fund were within an acceptable range in relation to those charged by appropriate groups of comparable mutual funds that underlie variable products.
Economies of scale
The Board considered whether TAI has experienced or is anticipated to experience economies of scale in connection with the operation of each Fund. The Board determined that the current fee rates at current asset levels generally were low as compared to peer groups of mutual funds that underlie variable products. Based on all factors considered, the Board concluded that the Funds’ fee schedules were within an acceptable range in light of current and potential economies of scale considerations and current asset levels.
Fee comparison with other TAI clients
The Board considered that TAI and its affiliates provide similar investment management services to other investment companies. In addition, in the future TAI may manage institutional client assets through unregistered commingled funds or separate accounts with similar investment strategies and investment staff. The Board considered the schedule of fees for each of these funds and accounts, and the
| 112 | 2013 Semiannual Report § TIAA-CREF Life Funds |
| continued |
management fee rates actually charged to other investment companies that are managed using similar investment strategies. The Board also considered TAI’s representation that, while management fee rates charged to the Funds may differ from the management fee rates chargeable to these other funds and accounts, this is due in part to the fact that these other funds and accounts: may be offered through products that charge additional fees to their investors; may be offered in different types of markets; may be provided with different types or levels of services by TAI; may target different types of investors; and/or may be packaged with other products, and that these factors, among others, could justify different management fee rate schedules.
Other benefits
The Board also considered additional benefits to the Funds and to TAI and its affiliates arising from the Agreement. For example, TAI and its affiliates may benefit from the advisory relationship with the Funds to the extent that this relationship results in potential investors viewing the TIAA-CREF group of companies as a leading retirement plan provider in the academic and nonprofit markets and as a single source for all their financial service needs. Both TAI and certain Funds managed by TAI or its affiliates may benefit from economies of scale to the extent that these Funds are managed in the same manner and by the same personnel as certain of the CREF Accounts. Additionally, TAI and the Funds may benefit from TAI’s ability to acquire investment research related to its commission (i.e., soft dollar) arrangements.
Fund-by-Fund factors
The Board considered the following specific factors (among others) in connection with its determination to renew the Agreement with respect to each Fund. If a Fund is described in the following discussions as being in the “1st” quintile, it is in the best of five groups (that is, the group has the best performance or the lowest expenses, as the case may be). References below to quintiles are based on data provided to the Board in the reports prepared by Lipper. All time periods referenced below ended as of December 31, 2012. Under the Morningstar rating system, 5 stars is the highest (best) rating category and 1 star is the lowest (worst) rating category. Statements below regarding “net profit” or “net loss” refer to whether TAI earned a profit or incurred a loss for the services that it rendered to a Fund during 2012 under the Agreement. To the extent that a Fund’s factors below do not include references to any or all of its Expense Group, Expense Universe, Performance Group or Performance Universe categories, it is because there were insufficient comparable funds in existence for Lipper to either create such categories or to create quintile rankings within such categories.
| TIAA-CREF Life Funds § 2013 Semiannual Report | 113 |
| Board renewal of the investment management agreement (unaudited) |
Growth Equity Fund
| • | The Fund’s annual contractual management fee rate is 0.45% of average daily net assets. |
| • | The Fund’s total expenses and management fees were in the 1st quintile of the group of comparable funds selected by Lipper for expense comparison purposes (“Expense Group”) and in the 1st quintile of the universe of comparable funds selected by Lipper for expense comparison purposes (“Expense Universe”). |
| • | The Fund was in the 3rd quintile of the group of comparable funds selected by Lipper for performance comparison purposes (“Performance Group”) for the one-, three- and five-year periods and in the 2nd quintile of its Performance Group for the ten-year period. The Fund was in the 2nd quintile of the universe of comparable funds selected by Lipper for performance comparison purposes (“Performance Universe”) for the one- and three-year periods and in the 3rd quintile of its Performance Universe for the five- and ten-year periods. |
| • | The Fund received an Overall Morningstar Rating of 3 stars. |
| • | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
Growth & Income Fund
| • | The Fund’s annual contractual management fee rate is 0.45% of average daily net assets. |
| • | The Fund’s total expenses and management fees were in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 3rd, 2nd, 2nd and 1st quintiles, respectively, of its Performance Group for the one-, three-, five- and ten-year periods. The Fund was in the 2nd quintile of its Performance Universe for the one-year period and in the 1st quintile of its Performance Universe for the three-, five- and ten-year periods. |
| • | The Fund received an Overall Morningstar Rating of 5 stars. |
| • | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
Large-Cap Value Fund
| • | The Fund’s annual contractual management fee rate is 0.45% of average daily net assets. |
| • | The Fund’s total expenses and management fees were in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 1st, 1st and 2nd quintiles of its Performance Group for the one, three- and five-year periods, respectively. The Fund was in the 1st quintile of its Performance Universe for the one-year period and in the 3rd quintile of its Performance Universe for the three-, five- and ten-year periods. |
| • | The Fund received an Overall Morningstar Rating of 4 stars. |
| • | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
| 114 | 2013 Semiannual Report § TIAA-CREF Life Funds |
| continued |
Real Estate Securities Fund
| • | The Fund’s annual contractual management fee rate is 0.50% of average daily net assets. |
| • | The Fund’s total expenses and management fees were in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 1st, 1st, 3rd and 3rd quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 1st, 1st, 4th and 4th quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively. |
| • | The Fund received an Overall Morningstar Rating of 3 stars. |
| • | TAI earned a net profit with respect to its services to the Fund for the one-year period. |
Small-Cap Equity Fund
| • | The Fund’s annual contractual management fee rate is 0.48% of average daily net assets. |
| • | The Fund’s total expenses and management fees were in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 4th, 4th, 3rd and 1st quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 4th, 4th, 3rd and 2nd quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively. |
| • | The Fund received an Overall Morningstar Rating of 3 stars. |
| • | TAI earned a net profit with respect to its services to the Fund for the one-year period. |
Social Choice Equity Fund
| • | The Fund’s annual contractual management fee rate is 0.15% of average daily net assets. |
| • | The Fund’s total expenses and management fees were in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 4th, 3rd, 3rd and 1st quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 4th, 2nd, 1st and 1st quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively. |
| • | The Fund received an Overall Morningstar Rating of 4 stars. |
| • | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
| TIAA-CREF Life Funds § 2013 Semiannual Report | 115 |
| Board renewal of the investment management agreement (unaudited) |
Stock Index Fund
| • | The Fund’s annual contractual management fee rate is 0.06% of average daily net assets. |
| • | The Fund’s total expenses and management fees were in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 2nd, 1st, 2nd and 3rd quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively. |
| • | For the one- and three-year periods, the Fund’s relative gross performance (meaning the Fund’s performance without any reductions for fees or expenses) as compared to its benchmark, the Russell 3000® Index, was +3 and 0 basis points, respectively. |
| • | The Fund received an Overall Morningstar Rating of 4 stars. |
| • | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
International Equity Fund
| • | The Fund’s annual contractual management fee rate is 0.50% of average daily net assets. |
| • | The Fund’s total expenses and management fees were in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 1st, 2nd, 5th and 4th quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 1st, 3rd, 5th and 3rd quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively. |
| • | The Fund received an Overall Morningstar Rating of 3 stars. |
| • | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
Bond Fund
| • | The Fund’s annual contractual management fee rate is 0.30% of average daily net assets. |
| • | The Fund’s total expenses and management fees were in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 3rd, 4th and 3rd quintiles of its Performance Group for the one-, three- and five-year periods, respectively. The Fund was in the 3rd, 3rd and 4th quintiles of its Performance Universe for the one-, three- and five-year periods, respectively. |
| • | The Fund received an Overall Morningstar Rating of 3 stars. |
| • | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
| 116 | 2013 Semiannual Report § TIAA-CREF Life Funds |
| concluded |
Money Market Fund
| • | The Fund’s annual contractual management fee rate is 0.10% of average daily net assets. |
| • | The Fund’s total expenses and management fees were in the 2nd quintile of its Expense Group. The Fund’s total expenses and management fees were in the 1st and 2nd quintiles, respectively, of its Expense Universe. |
| • | The Fund was in the 1st quintile of its Performance Group and Performance Universe for the one-, three-and five-year periods. |
| • | Money market funds are not rated by Morningstar. |
| • | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
| • | Since July 2009, TAI and its affiliates have waived or reimbursed Fund fees or expenses as needed to maintain a Fund yield of at least 0.00%. |
Based primarily on the foregoing factors and considerations, the Board renewed the Agreement for each Fund.
| TIAA-CREF Life Funds § 2013 Semiannual Report | 117 |
[This page intentionally left blank.]
©2013 Teachers Insurance and Annuity Association—College Retirement Equities Fund (TIAA-CREF), 730 Third Avenue, New York, NY 10017-3206.
Item 2. Code of Ethics.
Not applicable.
Item 3. Audit Committee Financial Expert.
Not applicable.
Item 4. Principal Accountant Fees and Services.
Not applicable.
Item 5. Audited Committee of Listed Registrants.
Not applicable.
Item 6. Schedule of Investments.
TIAA-CREF LIFE FUNDS - Growth Equity Fund
TIAA-CREF LIFE FUNDS
GROWTH EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2013
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 98.7% |
||||||||
| AUTOMOBILES & COMPONENTS - 2.2% |
||||||||
| 14,670 |
Delphi Automotive plc |
$ | 743,622 | |||||
| 6,928 |
* | General Motors Co |
230,772 | |||||
| 446 |
* | Tesla Motors, Inc |
47,914 | |||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
1,022,308 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 8.1% |
||||||||
| 8,234 |
Boeing Co |
843,491 | ||||||
| 3,694 |
Chicago Bridge & Iron Co NV |
220,384 | ||||||
| 3,942 |
Cummins, Inc |
427,550 | ||||||
| 4,722 |
Precision Castparts Corp |
1,067,219 | ||||||
| 3,395 |
Roper Industries, Inc |
421,727 | ||||||
| 3,240 |
W.W. Grainger, Inc |
817,063 | ||||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
3,797,434 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 2.0% |
||||||||
| 13,108 |
* | Nielsen Holdings NV |
440,298 | |||||
| 8,433 |
* | Verisk Analytics, Inc |
503,450 | |||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
943,748 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 4.5% |
||||||||
| 1,756 |
* | Fossil Group, Inc |
181,412 | |||||
| 8,469 |
Luxottica Group S.p.A. |
428,492 | ||||||
| 3,040 |
LVMH Moet Hennessy Louis Vuitton S.A. |
493,557 | ||||||
| 10,455 |
Nike, Inc (Class B) |
665,774 | ||||||
| 2,109 |
Ralph Lauren Corp |
366,418 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
2,135,653 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 4.9% |
||||||||
| 3,677 |
* | Hyatt Hotels Corp |
148,404 | |||||
| 16,299 |
Las Vegas Sands Corp |
862,706 | ||||||
| 14,776 |
Starbucks Corp |
967,680 | ||||||
| 5,067 |
Starwood Hotels & Resorts Worldwide, Inc |
320,184 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
2,298,974 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 5.1% |
||||||||
| 2,238 |
* | Affiliated Managers Group, Inc |
366,898 | |||||
| 4,968 |
Ameriprise Financial, Inc |
401,812 | ||||||
| 3,742 |
Apollo Management LP |
90,182 | ||||||
| 20,923 |
Blackstone Group LP |
440,638 | ||||||
| 1,218 |
Goldman Sachs Group, Inc |
184,222 | ||||||
| 2,743 |
* | IntercontinentalExchange, Inc |
487,596 | |||||
| 7,072 |
Moody’s Corp |
430,897 | ||||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
2,402,245 | |||||||
|
|
|
|||||||
| ENERGY - 2.6% |
||||||||
| 2,716 |
EOG Resources, Inc |
357,643 | ||||||
| 7,059 |
* | FMC Technologies, Inc |
393,045 | |||||
| 10,789 |
Halliburton Co |
450,117 | ||||||
|
|
|
|||||||
| TOTAL ENERGY |
1,200,805 | |||||||
|
|
|
|||||||
| FOOD, BEVERAGE & TOBACCO - 0.5% |
||||||||
| 4,055 |
* | Monster Beverage Corp |
246,422 | |||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
246,422 | |||||||
|
|
|
|||||||
1
TIAA-CREF LIFE FUNDS - Growth Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| HEALTH CARE EQUIPMENT & SERVICES - 1.4% |
||||||||
| 2,921 |
* | Cerner Corp |
$ | 280,679 | ||||
| 5,828 |
* | Edwards Lifesciences Corp |
391,641 | |||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
672,320 | |||||||
|
|
|
|||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 1.8% |
||||||||
| 19,445 |
Avon Products, Inc |
408,929 | ||||||
| 2,764 |
L’Oreal S.A. |
454,358 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
863,287 | |||||||
|
|
|
|||||||
| MATERIALS - 4.9% |
||||||||
| 4,812 |
Ecolab, Inc |
409,934 | ||||||
| 13,766 |
Monsanto Co |
1,360,081 | ||||||
| 926 |
PPG Industries, Inc |
135,576 | ||||||
| 2,344 |
Sherwin-Williams Co |
413,950 | ||||||
|
|
|
|||||||
| TOTAL MATERIALS |
2,319,541 | |||||||
|
|
|
|||||||
| MEDIA - 4.6% |
||||||||
| 5,043 |
CBS Corp (Class B) |
246,451 | ||||||
| 11,417 |
Comcast Corp (Class A) |
478,144 | ||||||
| 9,114 |
* | Discovery Communications, Inc (Class A) |
703,692 | |||||
| 1,612 |
* | Tribune Co |
91,723 | |||||
| 10,173 |
Walt Disney Co |
642,425 | ||||||
|
|
|
|||||||
| TOTAL MEDIA |
2,162,435 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 15.8% |
||||||||
| 3,408 |
* | Alexion Pharmaceuticals, Inc |
314,354 | |||||
| 2,727 |
Allergan, Inc |
229,722 | ||||||
| 6,448 |
* | Biogen Idec, Inc |
1,387,610 | |||||
| 9,990 |
Bristol-Myers Squibb Co |
446,453 | ||||||
| 7,780 |
* | Celgene Corp |
909,560 | |||||
| 26,836 |
* | Gilead Sciences, Inc |
1,374,272 | |||||
| 8,074 |
*,e | Illumina, Inc |
604,258 | |||||
| 3,816 |
* | Mylan Laboratories, Inc |
118,411 | |||||
| 8,017 |
Perrigo Co |
970,057 | ||||||
| 1,778 |
Roche Holding AG. |
441,294 | ||||||
| 2,754 |
* | Vertex Pharmaceuticals, Inc |
219,962 | |||||
| 13,680 |
Zoetis Inc |
422,575 | ||||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
7,438,528 | |||||||
|
|
|
|||||||
| REAL ESTATE - 1.2% |
||||||||
| 64,000 |
Global Logistic Properties |
138,436 | ||||||
| 8,688 |
* | Realogy Holdings Corp |
417,372 | |||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
555,808 | |||||||
|
|
|
|||||||
| RETAILING - 7.7% |
||||||||
| 4,740 |
* | Amazon.com, Inc |
1,316,250 | |||||
| 10,087 |
* | Carmax, Inc |
465,616 | |||||
| 5,209 |
* | Ctrip.com International Ltd (ADR) |
169,970 | |||||
| 8,022 |
Expedia, Inc |
482,523 | ||||||
| 40,899 |
* | Groupon, Inc |
347,641 | |||||
| 9,676 |
Home Depot, Inc |
749,600 | ||||||
| 510 |
* | NetFlix, Inc |
107,656 | |||||
|
|
|
|||||||
| TOTAL RETAILING |
3,639,256 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.5% |
||||||||
| 23,852 |
Applied Materials, Inc |
355,633 | ||||||
| 11,003 |
Broadcom Corp (Class A) |
371,461 | ||||||
| 5,233 |
* | Lam Research Corp |
232,031 | |||||
| 7,681 |
* | NXP Semiconductors NV |
237,958 | |||||
| 10,903 |
Xilinx, Inc |
431,868 | ||||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
1,628,951 | |||||||
|
|
|
|||||||
2
TIAA-CREF LIFE FUNDS - Growth Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| SOFTWARE & SERVICES - 20.4% |
||||||||
| 21,819 |
* | Adobe Systems, Inc |
$ | 994,074 | ||||
| 21,576 |
* | eBay, Inc |
1,115,911 | |||||
| 18,608 |
* | Facebook, Inc |
462,595 | |||||
| 1,832 |
* | Google, Inc (Class A) |
1,612,838 | |||||
| 22,542 |
Intuit, Inc |
1,375,738 | ||||||
| 1,993 |
* | LinkedIn Corp |
355,352 | |||||
| 1,600 |
Mastercard, Inc (Class A) |
919,200 | ||||||
| 13,928 |
* | Red Hat, Inc |
666,037 | |||||
| 6,789 |
* | Salesforce.com, Inc |
259,204 | |||||
| 8,284 |
* | Teradata Corp |
416,105 | |||||
| 7,799 |
Visa, Inc (Class A) |
1,425,267 | ||||||
| 196 |
* | Workday, Inc |
12,561 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
9,614,882 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 4.4% |
||||||||
| 40,036 |
* | Alcatel-Lucent (ADR) |
72,865 | |||||
| 2,646 |
Apple, Inc |
1,048,028 | ||||||
| 15,131 |
Cisco Systems, Inc |
367,835 | ||||||
| 15,433 |
EMC Corp |
364,527 | ||||||
| 3,757 |
Qualcomm, Inc |
229,478 | ||||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
2,082,733 | |||||||
|
|
|
|||||||
| TRANSPORTATION - 3.1% |
||||||||
| 24,688 |
* | Hertz Global Holdings, Inc |
612,263 | |||||
| 7,893 |
Kansas City Southern Industries, Inc |
836,342 | ||||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
1,448,605 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $40,497,109) |
46,473,935 | |||||||
|
|
|
|||||||
| SHORT-TERM INVESTMENTS - 1.3% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.3% |
||||||||
| 611,465 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
611,465 | |||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
611,465 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $611,465) |
611,465 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 100.0% (Cost $41,108,574) |
47,085,400 | |||||||
| OTHER ASSETS & LIABILITIES, NET - 0.0% |
12,236 | |||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 47,097,636 | ||||||
|
|
|
|||||||
Abbreviation(s):
| ADR | American Depositary Receipt |
| * | Non-income producing. |
| c | Investments made with cash collateral received from securities on loan. |
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan is $598,196. |
3
TIAA-CREF FUNDS - Growth & Income Fund
TIAA-CREF FUNDS
GROWTH & INCOME FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2013
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 99.6% |
||||||||
| AUTOMOBILES & COMPONENTS - 0.8% |
||||||||
| 14,863 |
Delphi Automotive plc |
$ | 753,405 | |||||
| 1,191 |
* | Tesla Motors, Inc |
127,949 | |||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
881,354 | |||||||
|
|
|
|||||||
| BANKS - 2.4% |
||||||||
| 10,428 |
* | CIT Group, Inc |
486,258 | |||||
| 9,000 |
* | Ocwen Financial Corp |
370,980 | |||||
| 42,928 |
Wells Fargo & Co |
1,771,638 | ||||||
|
|
|
|||||||
| TOTAL BANKS |
2,628,876 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 7.5% |
||||||||
| 6,747 |
AGCO Corp |
338,632 | ||||||
| 10,257 |
Eaton Corp |
675,013 | ||||||
| 7,151 |
General Dynamics Corp |
560,138 | ||||||
| 84,155 |
General Electric Co |
1,951,555 | ||||||
| 19,304 |
Honeywell International, Inc |
1,531,579 | ||||||
| 28,636 |
Invensys plc |
179,321 | ||||||
| 7,777 |
ITT Corp |
228,722 | ||||||
| 4,636 |
Pall Corp |
307,969 | ||||||
| 3,263 |
Precision Castparts Corp |
737,471 | ||||||
| 5,529 |
Roper Industries, Inc |
686,812 | ||||||
| 5,233 |
* | Teledyne Technologies, Inc |
404,773 | |||||
| 1,991 |
W.W. Grainger, Inc |
502,090 | ||||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
8,104,075 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.7% |
||||||||
| 7,595 |
ADT Corp |
302,661 | ||||||
| 13,372 |
Tyco International Ltd |
440,607 | ||||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
743,268 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 2.1% |
||||||||
| 9,912 |
* | CROCS, Inc |
163,548 | |||||
| 22,693 |
DR Horton, Inc |
482,907 | ||||||
| 9,923 |
* | Jarden Corp |
434,131 | |||||
| 2,810 |
* | Mohawk Industries, Inc |
316,097 | |||||
| 1,518 |
*,e | SodaStream International Ltd |
110,283 | |||||
| 8,418 |
* | TRI Pointe Homes, Inc |
139,570 | |||||
| 2,185 |
VF Corp |
421,836 | ||||||
| 4,323 |
Wolverine World Wide, Inc |
236,079 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
2,304,451 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 1.4% |
||||||||
| 6,178 |
* | Chuy’s Holdings, Inc |
236,864 | |||||
| 8,276 |
Las Vegas Sands Corp |
438,049 | ||||||
| 8,906 |
* | Penn National Gaming, Inc |
470,771 | |||||
| 9,506 |
e | Six Flags Entertainment Corp |
334,231 | |||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
1,479,915 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 7.1% |
||||||||
| 9,722 |
American Express Co |
726,817 | ||||||
| 125,499 |
Bank of America Corp |
1,613,917 | ||||||
| 39,663 |
Citigroup, Inc |
1,902,634 | ||||||
| 4,450 |
CME Group, Inc |
338,111 | ||||||
4
TIAA-CREF FUNDS - Growth & Income Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 17,703 |
Discover Financial Services |
$ | 843,371 | |||||
| 8,192 |
JPMorgan Chase & Co |
432,456 | ||||||
| 32,958 |
Morgan Stanley |
805,164 | ||||||
| 3,076 |
Oaktree Capital Group LLC |
161,644 | ||||||
| 14,045 |
State Street Corp |
915,874 | ||||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
7,739,988 | |||||||
|
|
|
|||||||
| ENERGY - 10.2% |
||||||||
| 13,244 |
Anadarko Petroleum Corp |
1,138,057 | ||||||
| 6,264 |
* | Cameron International Corp |
383,106 | |||||
| 9,306 |
* | Cheniere Energy, Inc |
258,335 | |||||
| 20,797 |
Chevron Corp |
2,461,117 | ||||||
| 5,674 |
* | Concho Resources, Inc |
475,027 | |||||
| 5,700 |
EOG Resources, Inc |
750,576 | ||||||
| 4,543 |
Equitable Resources, Inc |
360,578 | ||||||
| 20,087 |
Exxon Mobil Corp |
1,814,860 | ||||||
| 26,046 |
Halliburton Co |
1,086,639 | ||||||
| 20,836 |
Marathon Oil Corp |
720,509 | ||||||
| 6,890 |
Occidental Petroleum Corp |
614,795 | ||||||
| 7,846 |
Phillips 66 |
462,208 | ||||||
| 17,213 |
Spectra Energy Corp |
593,160 | ||||||
|
|
|
|||||||
| TOTAL ENERGY |
11,118,967 | |||||||
|
|
|
|||||||
| FOOD & STAPLES RETAILING - 1.2% |
||||||||
| 4,924 |
Costco Wholesale Corp |
544,447 | ||||||
| 9,613 |
Wal-Mart Stores, Inc |
716,072 | ||||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
1,260,519 | |||||||
|
|
|
|||||||
| FOOD, BEVERAGE & TOBACCO - 7.8% |
||||||||
| 22,951 |
Altria Group, Inc |
803,055 | ||||||
| 22,285 |
Britvic plc |
173,862 | ||||||
| 5,088 |
Brown-Forman Corp (Class B) |
343,694 | ||||||
| 17,901 |
Campbell Soup Co |
801,786 | ||||||
| 15,130 |
ConAgra Foods, Inc |
528,491 | ||||||
| 10,749 |
* | Constellation Brands, Inc (Class A) |
560,238 | |||||
| 16,772 |
* | Dean Foods Co |
168,056 | |||||
| 2,611 |
*,d,e | Green Mountain Coffee Roasters, Inc |
195,982 | |||||
| 2,785 |
Groupe Danone |
209,622 | ||||||
| 8,899 |
Hershey Co |
794,503 | ||||||
| 11,989 |
Kraft Foods Group, Inc |
669,826 | ||||||
| 4,546 |
* | Monster Beverage Corp |
276,260 | |||||
| 23,332 |
PepsiCo, Inc |
1,908,324 | ||||||
| 5,808 |
d | Philip Morris International, Inc |
503,089 | |||||
| 4,102 |
Remy Cointreau S.A. |
435,266 | ||||||
| 9,612 |
*,e | WhiteWave Foods Co (Class A) |
156,195 | |||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
8,528,249 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 2.9% |
||||||||
| 18,000 |
Aetna, Inc |
1,143,720 | ||||||
| 49,075 |
* | Boston Scientific Corp |
454,925 | |||||
| 9,374 |
* | Catamaran Corp |
456,701 | |||||
| 20,925 |
Medtronic, Inc |
1,077,010 | ||||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
3,132,356 | |||||||
|
|
|
|||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 2.1% |
||||||||
| 5,248 |
Beiersdorf AG. |
457,147 | ||||||
| 2,638 |
L’Oreal S.A. |
433,646 | ||||||
| 17,548 |
Procter & Gamble Co |
1,351,021 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
2,241,814 | |||||||
|
|
|
|||||||
5
TIAA-CREF FUNDS - Growth & Income Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| INSURANCE - 4.1% |
||||||||
| 12,603 |
ACE Ltd |
$ | 1,127,716 | |||||
| 9,743 |
*,d | American International Group, Inc |
435,512 | |||||
| 8,462 |
* | Berkshire Hathaway, Inc (Class B) |
947,067 | |||||
| 30,303 |
Hartford Financial Services Group, Inc |
936,969 | ||||||
| 21,306 |
Metlife, Inc |
974,963 | ||||||
|
|
|
|||||||
| TOTAL INSURANCE |
4,422,227 | |||||||
|
|
|
|||||||
| MATERIALS - 3.9% |
||||||||
| 7,285 |
Axiall Corp |
310,195 | ||||||
| 13,605 |
* | Berry Plastics Group, Inc |
300,262 | |||||
| 16,999 |
International Paper Co |
753,226 | ||||||
| 8,521 |
LyondellBasell Industries AF S.C.A |
564,602 | ||||||
| 12,525 |
d | Monsanto Co |
1,237,470 | |||||
| 3,674 |
PPG Industries, Inc |
537,910 | ||||||
| 21,403 |
Sealed Air Corp |
512,602 | ||||||
|
|
|
|||||||
| TOTAL MATERIALS |
4,216,267 | |||||||
|
|
|
|||||||
| MEDIA - 4.5% |
||||||||
| 2,959 |
* | Charter Communications, Inc |
366,472 | |||||
| 28,016 |
Comcast Corp (Class A) |
1,173,310 | ||||||
| 5,620 |
DISH Network Corp (Class A) |
238,962 | ||||||
| 8,674 |
*,e | Lions Gate Entertainment Corp |
238,275 | |||||
| 3,738 |
Time Warner Cable, Inc |
420,450 | ||||||
| 13,860 |
Time Warner, Inc |
801,385 | ||||||
| 12,998 |
Viacom, Inc (Class B) |
884,514 | ||||||
| 12,144 |
Walt Disney Co |
766,894 | ||||||
|
|
|
|||||||
| TOTAL MEDIA |
4,890,262 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 11.7% |
||||||||
| 5,399 |
* | Actavis, Inc |
681,462 | |||||
| 1,781 |
* | Aegerion Pharmaceuticals, Inc |
112,809 | |||||
| 4,697 |
*,d | Alexion Pharmaceuticals, Inc |
433,251 | |||||
| 8,002 |
Amgen, Inc |
789,477 | ||||||
| 1,755 |
* | Biogen Idec, Inc |
377,676 | |||||
| 4,496 |
* | BioMarin Pharmaceuticals, Inc |
250,832 | |||||
| 3,655 |
* | Biovail Corp |
314,622 | |||||
| 20,446 |
* | Biovitrum AB |
122,320 | |||||
| 637 |
*,e | Bluebird Bio, Inc |
15,906 | |||||
| 10,161 |
Bristol-Myers Squibb Co |
454,095 | ||||||
| 2,634 |
*,d | Celgene Corp |
307,941 | |||||
| 29,636 |
* | Gilead Sciences, Inc |
1,517,660 | |||||
| 4,703 |
*,e | Illumina, Inc |
351,972 | |||||
| 5,890 |
* | Jazz Pharmaceuticals plc |
404,820 | |||||
| 21,113 |
Johnson & Johnson |
1,812,762 | ||||||
| 4,250 |
* | Medivation, Inc |
209,100 | |||||
| 27,091 |
Merck & Co, Inc |
1,258,377 | ||||||
| 7,200 |
* | Mylan Laboratories, Inc |
223,416 | |||||
| 6,122 |
Novartis AG. |
433,625 | ||||||
| 1,720 |
Novo Nordisk AS (Class B) |
267,395 | ||||||
| 48,967 |
Pfizer, Inc |
1,371,566 | ||||||
| 966 |
Roche Holding AG. |
239,758 | ||||||
| 3,285 |
* | Salix Pharmaceuticals Ltd |
217,303 | |||||
| 2,831 |
* | Theravance, Inc |
109,078 | |||||
| 15,499 |
e | Zoetis Inc |
478,764 | |||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
12,755,987 | |||||||
|
|
|
|||||||
| REAL ESTATE - 0.8% |
||||||||
| 7,538 |
American Tower Corp |
551,556 | ||||||
| 7,231 |
* | Realogy Holdings Corp |
347,377 | |||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
898,933 | |||||||
|
|
|
|||||||
6
TIAA-CREF FUNDS - Growth & Income Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| RETAILING - 6.1% |
||||||||
| 2,452 |
* | Amazon.com, Inc |
$ | 680,896 | ||||
| 12,682 |
Best Buy Co, Inc |
346,599 | ||||||
| 14,818 |
Gap, Inc |
618,355 | ||||||
| 63,704 |
* | Groupon, Inc |
541,484 | |||||
| 21,619 |
Home Depot, Inc |
1,674,824 | ||||||
| 15,024 |
Macy’s, Inc |
721,152 | ||||||
| 2,705 |
*,d | NetFlix, Inc |
570,999 | |||||
| 16,222 |
e | PetMed Express, Inc |
204,397 | |||||
| 16,237 |
TJX Companies, Inc |
812,824 | ||||||
| 6,801 |
* | TripAdvisor, Inc |
413,977 | |||||
|
|
|
|||||||
| TOTAL RETAILING |
6,585,507 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.2% |
||||||||
| 8,234 |
Broadcom Corp (Class A) |
277,980 | ||||||
| 5,680 |
*,d | Cree, Inc |
362,725 | |||||
| 28,600 |
Intel Corp |
692,692 | ||||||
| 8,481 |
* | Micron Technology, Inc |
121,533 | |||||
| 10,813 |
* | NXP Semiconductors NV |
334,987 | |||||
| 21,766 |
* | SunEdison, Inc |
177,828 | |||||
| 12,383 |
Xilinx, Inc |
490,490 | ||||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
2,458,235 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 7.3% |
||||||||
| 2,746 |
*,e | Alliance Data Systems Corp |
497,108 | |||||
| 44,231 |
Compuware Corp |
457,791 | ||||||
| 7,297 |
* | Constant Contact, Inc |
117,263 | |||||
| 8,836 |
* | eBay, Inc |
456,998 | |||||
| 2,529 |
*,d | Google, Inc (Class A) |
2,226,456 | |||||
| 49,961 |
Microsoft Corp |
1,725,153 | ||||||
| 2,566 |
* | MicroStrategy, Inc (Class A) |
223,139 | |||||
| 28,221 |
Oracle Corp |
866,949 | ||||||
| 4,174 |
* | Splunk, Inc |
193,507 | |||||
| 15,868 |
* | Take-Two Interactive Software, Inc |
237,544 | |||||
| 4,551 |
* | VMware, Inc (Class A) |
304,872 | |||||
| 15,384 |
* | Yahoo!, Inc |
386,292 | |||||
| 10,449 |
* | Yandex NV |
288,706 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
7,981,778 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 6.9% |
||||||||
| 103,030 |
* | Alcatel-Lucent (ADR) |
187,515 | |||||
| 6,857 |
Apple, Inc |
2,715,921 | ||||||
| 79,108 |
Cisco Systems, Inc |
1,923,115 | ||||||
| 4,213 |
* | F5 Networks, Inc |
289,854 | |||||
| 16,979 |
Hewlett-Packard Co |
421,079 | ||||||
| 25,070 |
High Tech Computer Corp |
198,628 | ||||||
| 42,015 |
* | JDS Uniphase Corp |
604,176 | |||||
| 12,159 |
* | NetApp, Inc |
459,367 | |||||
| 9,309 |
d | Qualcomm, Inc |
568,594 | |||||
| 1,898 |
*,e | Stratasys Ltd |
158,938 | |||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
7,527,187 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 1.6% |
||||||||
| 34,493 |
Verizon Communications, Inc |
1,736,378 | ||||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
1,736,378 | |||||||
|
|
|
|||||||
| TRANSPORTATION - 2.1% |
||||||||
| 4,845 |
Canadian Pacific Railway Ltd |
588,086 | ||||||
| 36,280 |
* | Delta Air Lines, Inc |
678,799 | |||||
| 20,106 |
* | Hertz Global Holdings, Inc |
498,629 | |||||
| 4,431 |
Kansas City Southern Industries, Inc |
469,508 | ||||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
2,235,022 | |||||||
|
|
|
|||||||
7
TIAA-CREF FUNDS - Growth & Income Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| UTILITIES - 2.2% |
||||||||
| 9,919 |
American Water Works Co, Inc |
$ | 408,960 | |||||
| 3,632 |
Atmos Energy Corp |
149,130 | ||||||
| 13,635 |
* | Calpine Corp |
289,471 | |||||
| 4,012 |
Entergy Corp |
279,556 | ||||||
| 7,724 |
NextEra Energy, Inc |
629,352 | ||||||
| 6,245 |
Sempra Energy |
510,591 | ||||||
| 3,215 |
UNS Energy Corp |
143,807 | ||||||
|
|
|
|||||||
| TOTAL UTILITIES |
2,410,867 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $89,870,820) |
108,282,482 | |||||||
|
|
|
|||||||
| SHORT-TERM INVESTMENTS - 1.5% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.5% |
||||||||
| 1,672,764 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
1,672,764 | |||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
1,672,764 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $1,672,764) |
1,672,764 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 101.1% (Cost $91,543,584) |
109,955,246 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (1.1)% |
(1,275,886 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 108,679,360 | ||||||
|
|
|
|||||||
Abbreviation(s):
| ADR | American Depositary Receipt |
| * | 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 written options contracts. |
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan is $1,630,547. |
8
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
TIAA-CREF LIFE FUNDS
LARGE-CAP VALUE FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2013
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 98.0% |
||||||||
| AUTOMOBILES & COMPONENTS - 0.5% |
||||||||
| 13,357 |
* | American Axle & Manufacturing Holdings, Inc |
$ | 248,841 | ||||
| 4,213 |
Delphi Automotive plc |
213,557 | ||||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
462,398 | |||||||
|
|
|
|||||||
| BANKS - 4.4% |
||||||||
| 81,651 |
* | Banco Espirito Santo S.A. |
65,459 | |||||
| 11,778 |
BB&T Corp |
399,039 | ||||||
| 35,626 |
Huntington Bancshares, Inc |
280,733 | ||||||
| 28,059 |
Synovus Financial Corp |
81,932 | ||||||
| 30,708 |
TCF Financial Corp |
435,440 | ||||||
| 8,356 |
US Bancorp |
302,069 | ||||||
| 54,866 |
Wells Fargo & Co |
2,264,320 | ||||||
|
|
|
|||||||
| TOTAL BANKS |
3,828,992 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 7.3% |
||||||||
| 6,300 |
Boeing Co |
645,372 | ||||||
| 12,770 |
* | Edwards Group Ltd (ADR) |
108,545 | |||||
| 9,702 |
General Dynamics Corp |
759,957 | ||||||
| 141,357 |
General Electric Co |
3,278,069 | ||||||
| 3,462 |
Joy Global, Inc |
168,011 | ||||||
| 1,384 |
L-3 Communications Holdings, Inc |
118,664 | ||||||
| 7,594 |
Pentair Ltd |
438,098 | ||||||
| 4,515 |
*,e | Polypore International, Inc |
181,954 | |||||
| 6,073 |
SPX Corp |
437,135 | ||||||
| 6,260 |
Textron, Inc |
163,073 | ||||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
6,298,878 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.4% |
||||||||
| 9,110 |
ADT Corp |
363,033 | ||||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
363,033 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 1.0% |
||||||||
| 14,958 |
* | CROCS, Inc |
246,807 | |||||
| 3,963 |
*,e | Deckers Outdoor Corp |
200,171 | |||||
| 8,980 |
* | Jarden Corp |
392,875 | |||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
839,853 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 3.1% |
||||||||
| 6,850 |
* | Bloomin’ Brands, Inc |
170,428 | |||||
| 25,454 |
Carnival Corp |
872,818 | ||||||
| 5,384 |
* | Hyatt Hotels Corp |
217,298 | |||||
| 9,373 |
Interval Leisure Group, Inc |
186,710 | ||||||
| 9,974 |
Las Vegas Sands Corp |
527,924 | ||||||
| 11,085 |
* | Penn National Gaming, Inc |
585,953 | |||||
| 4,244 |
e | Six Flags Entertainment Corp |
149,219 | |||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
2,710,350 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 9.0% |
||||||||
| 7,842 |
Apollo Management LP |
188,992 | ||||||
| 121,562 |
Bank of America Corp |
1,563,287 | ||||||
| 11,688 |
Blackstone Group LP |
246,149 | ||||||
| 2,509 |
Capital One Financial Corp |
157,590 | ||||||
| 41,488 |
Citigroup, Inc |
1,990,180 | ||||||
9
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,587 |
Goldman Sachs Group, Inc |
$ | 240,034 | |||||
| 21,252 |
JPMorgan Chase & Co |
1,121,893 | ||||||
| 16,187 |
Legg Mason, Inc |
501,959 | ||||||
| 35,050 |
Morgan Stanley |
856,272 | ||||||
| 3,551 |
Northern Trust Corp |
205,603 | ||||||
| 10,982 |
State Street Corp |
716,136 | ||||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
7,788,095 | |||||||
|
|
|
|||||||
| ENERGY - 14.3% |
||||||||
| 5,980 |
Anadarko Petroleum Corp |
513,861 | ||||||
| 20,031 |
Baker Hughes, Inc |
924,030 | ||||||
| 3,552 |
Cabot Oil & Gas Corp |
252,263 | ||||||
| 6,041 |
* | Cheniere Energy, Inc |
167,698 | |||||
| 11,620 |
Chesapeake Energy Corp |
236,816 | ||||||
| 15,756 |
Chevron Corp |
1,864,565 | ||||||
| 11,251 |
* | Cobalt International Energy, Inc |
298,939 | |||||
| 12,980 |
ConocoPhillips |
785,290 | ||||||
| 6,879 |
* | Devon Energy Corp |
356,883 | |||||
| 32,212 |
e | EXCO Resources, Inc |
246,100 | |||||
| 25,187 |
Exxon Mobil Corp |
2,275,645 | ||||||
| 29,329 |
* | Kodiak Oil & Gas Corp |
260,735 | |||||
| 4,330 |
Marathon Oil Corp |
149,731 | ||||||
| 3,066 |
Marathon Petroleum Corp |
217,870 | ||||||
| 15,996 |
* | Matador Resources Co |
191,632 | |||||
| 2,107 |
Noble Energy, Inc |
126,504 | ||||||
| 10,750 |
Occidental Petroleum Corp |
959,222 | ||||||
| 3,992 |
Phillips 66 |
235,169 | ||||||
| 7,074 |
* | Southwestern Energy Co |
258,413 | |||||
| 15,943 |
Spectra Energy Corp |
549,396 | ||||||
| 21,919 |
* | Tailsman Energy, Inc |
250,534 | |||||
| 3,883 |
Valero Energy Corp |
135,012 | ||||||
| 47,851 |
* | Weatherford International Ltd |
655,559 | |||||
| 15,497 |
Williams Cos, Inc |
503,188 | ||||||
|
|
|
|||||||
| TOTAL ENERGY |
12,415,055 | |||||||
|
|
|
|||||||
| FOOD & STAPLES RETAILING - 0.4% |
||||||||
| 2,626 |
CVS Corp |
150,155 | ||||||
| 4,382 |
Walgreen Co |
193,684 | ||||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
343,839 | |||||||
|
|
|
|||||||
| FOOD, BEVERAGE & TOBACCO - 2.0% |
||||||||
| 5,734 |
*,e | Green Mountain Coffee Roasters, Inc |
430,394 | |||||
| 2,619 |
Groupe Danone |
197,128 | ||||||
| 17,818 |
Mondelez International, Inc |
508,348 | ||||||
| 2,081 |
Remy Cointreau S.A. |
220,816 | ||||||
| 8,376 |
SABMiller plc |
401,573 | ||||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
1,758,259 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 5.5% |
||||||||
| 5,026 |
Abbott Laboratories |
175,307 | ||||||
| 23,357 |
* | Boston Scientific Corp |
216,519 | |||||
| 5,556 |
Cardinal Health, Inc |
262,243 | ||||||
| 13,799 |
* | Express Scripts Holding Co |
851,260 | |||||
| 17,501 |
* | Health Management Associates, Inc (Class A) |
275,116 | |||||
| 2,245 |
Humana, Inc |
189,433 | ||||||
| 13,885 |
Medtronic, Inc |
714,661 | ||||||
| 12,000 |
* | Olympus Corp |
364,649 | |||||
| 16,875 |
UnitedHealth Group, Inc |
1,104,975 | ||||||
| 7,454 |
WellPoint, Inc |
610,036 | ||||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
4,764,199 | |||||||
|
|
|
|||||||
10
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 3.1% |
||||||||
| 16,665 |
Avon Products, Inc |
$ | 350,465 | |||||
| 3,767 |
Beiersdorf AG. |
328,139 | ||||||
| 1,240 |
L’Oreal S.A. |
203,837 | ||||||
| 4,234 |
Nu Skin Enterprises, Inc (Class A) |
258,782 | ||||||
| 20,052 |
Procter & Gamble Co |
1,543,803 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
2,685,026 | |||||||
|
|
|
|||||||
| INSURANCE - 7.4% |
||||||||
| 8,359 |
ACE Ltd |
747,963 | ||||||
| 5,624 |
Allstate Corp |
270,627 | ||||||
| 16,335 |
* | American International Group, Inc |
730,175 | |||||
| 2,915 |
Aon plc |
187,580 | ||||||
| 1 |
* | Berkshire Hathaway, Inc |
168,600 | |||||
| 8,313 |
* | Berkshire Hathaway, Inc (Class B) |
930,391 | |||||
| 14,868 |
Hartford Financial Services Group, Inc |
459,719 | ||||||
| 10,876 |
Marsh & McLennan Cos, Inc |
434,170 | ||||||
| 16,165 |
Metlife, Inc |
739,710 | ||||||
| 11,295 |
Principal Financial Group |
422,998 | ||||||
| 6,183 |
Prudential Financial, Inc |
451,544 | ||||||
| 1,642 |
RenaissanceRe Holdings Ltd |
142,509 | ||||||
| 6,532 |
Travelers Cos, Inc |
522,038 | ||||||
| 8,313 |
XL Capital Ltd |
252,050 | ||||||
|
|
|
|||||||
| TOTAL INSURANCE |
6,460,074 | |||||||
|
|
|
|||||||
| MATERIALS - 3.2% |
||||||||
| 3,205 |
Akzo Nobel NV |
180,845 | ||||||
| 4,188 |
Ashland, Inc |
349,698 | ||||||
| 6,781 |
Axiall Corp |
288,735 | ||||||
| 25,214 |
e | Cliffs Natural Resources, Inc |
409,728 | |||||
| 14,499 |
* | Constellium NV |
234,159 | |||||
| 5,026 |
Dow Chemical Co |
161,686 | ||||||
| 2,704 |
Mosaic Co |
145,502 | ||||||
| 13,674 |
PolyOne Corp |
338,842 | ||||||
| 16,791 |
Sealed Air Corp |
402,145 | ||||||
| 2,007 |
Wacker Chemie AG. |
150,412 | ||||||
| 7,768 |
e | Walter Energy, Inc |
80,787 | |||||
|
|
|
|||||||
| TOTAL MATERIALS |
2,742,539 | |||||||
|
|
|
|||||||
| MEDIA - 1.6% |
||||||||
| 3,269 |
Time Warner Cable, Inc |
367,697 | ||||||
| 11,397 |
Time Warner, Inc |
658,975 | ||||||
| 6,349 |
* | Tribune Co |
361,258 | |||||
|
|
|
|||||||
| TOTAL MEDIA |
1,387,930 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 9.3% |
||||||||
| 5,026 |
AbbVie, Inc |
207,775 | ||||||
| 2,995 |
Bayer AG. |
318,879 | ||||||
| 33,192 |
* | Biovitrum AB |
198,573 | |||||
| 5,518 |
Eli Lilly & Co |
271,044 | ||||||
| 23,981 |
Johnson & Johnson |
2,059,009 | ||||||
| 2,481 |
* | Medivation, Inc |
122,065 | |||||
| 38,433 |
Merck & Co, Inc |
1,785,213 | ||||||
| 7,122 |
* | Mylan Laboratories, Inc |
220,996 | |||||
| 2,777 |
Novartis AG. |
196,697 | ||||||
| 2,172 |
Novartis AG. (ADR) |
153,582 | ||||||
| 52,546 |
Pfizer, Inc |
1,471,813 | ||||||
| 15,153 |
Teva Pharmaceutical Industries Ltd (ADR) |
593,998 | ||||||
| 16,561 |
Zoetis Inc |
511,569 | ||||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
8,111,213 | |||||||
|
|
|
|||||||
11
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| REAL ESTATE - 3.2% |
||||||||
| 861 |
Boston Properties, Inc |
$ | 90,810 | |||||
| 30,021 |
Chimera Investment Corp |
90,063 | ||||||
| 11,191 |
* | Forest City Enterprises, Inc (Class A) |
200,431 | |||||
| 13,707 |
Kimco Realty Corp |
293,741 | ||||||
| 5,882 |
Liberty Property Trust |
217,399 | ||||||
| 8,417 |
Mack-Cali Realty Corp |
206,132 | ||||||
| 3,923 |
Potlatch Corp |
158,646 | ||||||
| 9,323 |
* | Realogy Holdings Corp |
447,877 | |||||
| 3,005 |
Simon Property Group, Inc |
474,549 | ||||||
| 3,898 |
SL Green Realty Corp |
343,764 | ||||||
| 4,101 |
Starwood Property Trust, Inc |
101,500 | ||||||
| 2,309 |
Vornado Realty Trust |
191,301 | ||||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
2,816,213 | |||||||
|
|
|
|||||||
| RETAILING - 2.6% |
||||||||
| 3,588 |
Abercrombie & Fitch Co (Class A) |
162,357 | ||||||
| 15,428 |
Best Buy Co, Inc |
421,647 | ||||||
| 4,742 |
Expedia, Inc |
285,231 | ||||||
| 25,247 |
* | Groupon, Inc |
214,600 | |||||
| 399,050 |
e | Hengdeli Holdings Ltd |
90,548 | |||||
| 14,024 |
*,e | JC Penney Co, Inc |
239,530 | |||||
| 8,506 |
* | Liberty Media Holding Corp (Interactive A) |
195,723 | |||||
| 46,500 |
Lifestyle International Holdings Ltd |
97,054 | ||||||
| 33,254 |
Staples, Inc |
527,409 | ||||||
|
|
|
|||||||
| TOTAL RETAILING |
2,234,099 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.7% |
||||||||
| 6,227 |
Avago Technologies Ltd |
232,765 | ||||||
| 17,350 |
Broadcom Corp (Class A) |
585,736 | ||||||
| 14,554 |
*,e | Freescale Semiconductor Holdings Ltd |
197,207 | |||||
| 17,002 |
* | International Rectifier Corp |
356,022 | |||||
| 8,035 |
* | Lam Research Corp |
356,272 | |||||
| 56,724 |
* | ON Semiconductor Corp |
458,330 | |||||
| 24,437 |
* | RF Micro Devices, Inc |
130,738 | |||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
2,317,070 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 2.0% |
||||||||
| 4,634 |
* | Adobe Systems, Inc |
211,125 | |||||
| 2,540 |
DST Systems, Inc |
165,938 | ||||||
| 8,476 |
* | eBay, Inc |
438,379 | |||||
| 5,832 |
* | Rackspace Hosting, Inc |
220,974 | |||||
| 3,808 |
*,e | VistaPrint Ltd |
188,001 | |||||
| 21,183 |
* | Yahoo!, Inc |
531,905 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
1,756,322 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 4.9% |
||||||||
| 95,471 |
* | Alcatel-Lucent (ADR) |
173,757 | |||||
| 2,390 |
Apple, Inc |
946,631 | ||||||
| 7,724 |
* | Ciena Corp |
150,000 | |||||
| 72,509 |
Cisco Systems, Inc |
1,762,694 | ||||||
| 10,974 |
Corning, Inc |
156,160 | ||||||
| 25,731 |
Hewlett-Packard Co |
638,129 | ||||||
| 12,801 |
* | JDS Uniphase Corp |
184,078 | |||||
| 13,354 |
* | Juniper Networks, Inc |
257,866 | |||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
4,269,315 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 2.8% |
||||||||
| 60,534 |
AT&T, Inc |
2,142,904 | ||||||
| 12,541 |
* | Level 3 Communications, Inc |
264,364 | |||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
2,407,268 | |||||||
|
|
|
|||||||
12
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| TRANSPORTATION - 2.2% |
||||||||
| 150,000 |
e | Air China Ltd |
$ | 107,383 | ||||
| 7,221 |
Con-Way, Inc |
281,330 | ||||||
| 7,359 |
FedEx Corp |
725,450 | ||||||
| 16,960 |
* | Hertz Global Holdings, Inc |
420,608 | |||||
| 6,851 |
* | UAL Corp |
214,368 | |||||
| 8,813 |
UTI Worldwide, Inc |
145,150 | ||||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
1,894,289 | |||||||
|
|
|
|||||||
| UTILITIES - 5.1% |
||||||||
| 10,704 |
* | Calpine Corp |
227,246 | |||||
| 19,864 |
Centerpoint Energy, Inc |
466,605 | ||||||
| 7,254 |
Consolidated Edison, Inc |
422,981 | ||||||
| 7,086 |
Duke Energy Corp |
478,305 | ||||||
| 5,363 |
Edison International |
258,282 | ||||||
| 10,831 |
Entergy Corp |
754,704 | ||||||
| 16,293 |
Exelon Corp |
503,128 | ||||||
| 4,859 |
FirstEnergy Corp |
181,435 | ||||||
| 8,113 |
MDU Resources Group, Inc |
210,208 | ||||||
| 2,925 |
NextEra Energy, Inc |
238,329 | ||||||
| 5,387 |
NRG Energy, Inc |
143,833 | ||||||
| 5,889 |
PG&E Corp |
269,304 | ||||||
| 2,881 |
Sempra Energy |
235,550 | ||||||
|
|
|
|||||||
| TOTAL UTILITIES |
4,389,910 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $76,179,230) |
85,044,219 | |||||||
|
|
|
|||||||
| SHORT-TERM INVESTMENTS - 2.7% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.7% |
||||||||
| 2,379,052 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
2,379,052 | |||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
2,379,052 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,379,052) |
2,379,052 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 100.7% (Cost $78,558,282) |
87,423,271 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (0.7)% |
(647,417 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% |
$ | 86,775,854 | ||||||
|
|
|
|||||||
Abbreviation(s):
| ADR | American Depositary Receipt |
| * | Non-income producing. |
| c | Investments made with cash collateral received from securities on loan. |
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan is $2,316,125. |
13
TIAA-CREF FUNDS - Real Estate Securities Fund
TIAA-CREF LIFE FUNDS
REAL ESTATE SECURITIES FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2013
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 98.7% |
||||||||
| CASINOS & GAMING - 0.3% |
||||||||
| 5,000 |
* | Penn National Gaming, Inc |
$ | 264,300 | ||||
|
|
|
|||||||
| TOTAL CASINOS & GAMING |
264,300 | |||||||
|
|
|
|||||||
| DIVERSIFIED REAL ESTATE ACTIVITIES - 0.3% |
||||||||
| 60,000 |
Hang Lung Group Ltd |
321,395 | ||||||
| 59,000 |
*,m | Mission West Properties, Inc |
3,540 | |||||
|
|
|
|||||||
| TOTAL DIVERSIFIED REAL ESTATE ACTIVITIES |
324,935 | |||||||
|
|
|
|||||||
| DIVERSIFIED REITS - 2.9% |
||||||||
| 20,000 |
Duke Realty Corp |
311,800 | ||||||
| 35,000 |
Retail Opportunities Investment Corp |
486,500 | ||||||
| 30,000 |
Spirit Realty Capital, Inc |
531,600 | ||||||
| 14,000 |
Vornado Realty Trust |
1,159,900 | ||||||
| 7,000 |
WP Carey, Inc |
463,190 | ||||||
|
|
|
|||||||
| TOTAL DIVERSIFIED REITS |
2,952,990 | |||||||
|
|
|
|||||||
| HOMEBUILDING - 3.9% |
||||||||
| 25,000 |
DR Horton, Inc |
532,000 | ||||||
| 15,000 |
Lennar Corp (Class A) |
540,600 | ||||||
| 15,000 |
* | Meritage Homes Corp |
650,400 | |||||
| 7,500 |
Ryland Group, Inc |
300,750 | ||||||
| 105,000 |
* | Standard-Pacific Corp |
874,650 | |||||
| 20,000 |
* | Toll Brothers, Inc |
652,600 | |||||
| 25,000 |
* | TRI Pointe Homes, Inc |
414,500 | |||||
|
|
|
|||||||
| TOTAL HOMEBUILDING |
3,965,500 | |||||||
|
|
|
|||||||
| HOTELS, RESORTS & CRUISE LINES - 0.9% |
||||||||
| 30,000 |
* | Orient-Express Hotels Ltd (Class A) |
364,800 | |||||
| 8,000 |
Starwood Hotels & Resorts Worldwide, Inc |
505,520 | ||||||
|
|
|
|||||||
| TOTAL HOTELS, RESORTS & CRUISE LINES |
870,320 | |||||||
|
|
|
|||||||
| INDUSTRIAL REITS - 7.0% |
||||||||
| 18,000 |
EastGroup Properties, Inc |
1,012,860 | ||||||
| 27,000 |
First Industrial Realty Trust, Inc |
409,590 | ||||||
| 135,000 |
Prologis, Inc |
5,092,200 | ||||||
| 20,000 |
STAG Industrial, Inc |
399,000 | ||||||
| 10,000 |
Terreno Realty Corp |
185,300 | ||||||
|
|
|
|||||||
| TOTAL INDUSTRIAL REITS |
7,098,950 | |||||||
|
|
|
|||||||
| OFFICE REITS - 9.6% |
||||||||
| 38,000 |
Boston Properties, Inc |
4,007,860 | ||||||
| 15,000 |
Digital Realty Trust, Inc |
915,000 | ||||||
| 40,000 |
HRPT Properties Trust |
924,800 | ||||||
| 15,000 |
Kilroy Realty Corp |
795,150 | ||||||
| 26,000 |
Parkway Properties, Inc |
435,760 | ||||||
| 30,000 |
SL Green Realty Corp |
2,645,700 | ||||||
|
|
|
|||||||
| TOTAL OFFICE REITS |
9,724,270 | |||||||
|
|
|
|||||||
14
TIAA-CREF FUNDS - Real Estate Securities Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| OTHER DIVERSIFIED FINANCIAL SERVICES - 0.0% |
||||||||
| 28,800 |
*,b,m | People’s Choice Financial Corp |
$ | 0 | ||||
|
|
|
|||||||
| TOTAL OTHER DIVERSIFIED FINANCIAL SERVICES |
0 | |||||||
|
|
|
|||||||
| REAL ESTATE OPERATING COMPANIES - 2.2% |
||||||||
| 22,000 |
* | Forest City Enterprises, Inc (Class A) |
394,020 | |||||
| 341,116 |
Thomas Properties Group, Inc |
1,807,914 | ||||||
|
|
|
|||||||
| TOTAL REAL ESTATE OPERATING COMPANIES |
2,201,934 | |||||||
|
|
|
|||||||
| REAL ESTATE SERVICES - 0.4% |
||||||||
| 8,000 |
* | Realogy Holdings Corp |
384,320 | |||||
|
|
|
|||||||
| TOTAL REAL ESTATE SERVICES |
384,320 | |||||||
|
|
|
|||||||
| RESIDENTIAL REITS - 18.0% |
||||||||
| 50,000 |
American Campus Communities, Inc |
2,033,000 | ||||||
| 50,000 |
Apartment Investment & Management Co (Class A) |
1,502,000 | ||||||
| 20,000 |
AvalonBay Communities, Inc |
2,698,200 | ||||||
| 35,000 |
Camden Property Trust |
2,419,900 | ||||||
| 35,000 |
Education Realty Trust, Inc |
358,050 | ||||||
| 13,000 |
Equity Lifestyle Properties, Inc |
1,021,670 | ||||||
| 90,000 |
Equity Residential |
5,225,400 | ||||||
| 6,000 |
Essex Property Trust, Inc |
953,520 | ||||||
| 5,000 |
Home Properties, Inc |
326,850 | ||||||
| 35,000 |
Post Properties, Inc |
1,732,150 | ||||||
|
|
|
|||||||
| TOTAL RESIDENTIAL REITS |
18,270,740 | |||||||
|
|
|
|||||||
| RETAIL REITS - 22.6% |
||||||||
| 105,000 |
DDR Corp |
1,748,250 | ||||||
| 40,000 |
Equity One, Inc |
905,200 | ||||||
| 15,000 |
Federal Realty Investment Trust |
1,555,200 | ||||||
| 185,000 |
General Growth Properties, Inc |
3,675,950 | ||||||
| 23,000 |
Realty Income Corp |
964,160 | ||||||
| 21,000 |
Regency Centers Corp |
1,067,010 | ||||||
| 75,000 |
Simon Property Group, Inc |
11,844,000 | ||||||
| 10,000 |
Tanger Factory Outlet Centers, Inc |
334,600 | ||||||
| 11,000 |
Taubman Centers, Inc |
826,650 | ||||||
|
|
|
|||||||
| TOTAL RETAIL REITS |
22,921,020 | |||||||
|
|
|
|||||||
| SECURITY & ALARM SERVICES - 1.4% |
||||||||
| 30,000 |
Corrections Corp of America |
1,016,100 | ||||||
| 11,000 |
Geo Group, Inc |
373,450 | ||||||
|
|
|
|||||||
| TOTAL SECURITY & ALARM SERVICES |
1,389,550 | |||||||
|
|
|
|||||||
| SPECIALIZED REITS - 29.2% |
||||||||
| 70,000 |
American Tower Corp |
5,121,900 | ||||||
| 35,000 |
CubeSmart |
559,300 | ||||||
| 8,000 |
Entertainment Properties Trust |
402,160 | ||||||
| 30,000 |
Extra Space Storage, Inc |
1,257,900 | ||||||
| 90,000 |
HCP, Inc |
4,089,600 | ||||||
| 47,000 |
Health Care REIT, Inc |
3,150,410 | ||||||
| 25,000 |
Healthcare Realty Trust, Inc |
637,500 | ||||||
| 10,000 |
Hospitality Properties Trust |
262,800 | ||||||
| 130,000 |
Host Marriott Corp |
2,193,100 | ||||||
| 10,000 |
Plum Creek Timber Co, Inc |
466,700 | ||||||
| 6,000 |
Potlatch Corp |
242,640 | ||||||
| 24,000 |
Public Storage, Inc |
3,679,920 | ||||||
| 15,000 |
RLJ Lodging Trust |
337,350 | ||||||
| 15,000 |
Senior Housing Properties Trust |
388,950 | ||||||
| 115,000 |
* | Strategic Hotels & Resorts, Inc |
1,018,900 | |||||
15
TIAA-CREF FUNDS - Real Estate Securities Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 55,000 |
* | Sunstone Hotel Investors, Inc |
$ | 664,400 | ||||
| 44,000 |
Ventas, Inc |
3,056,240 | ||||||
| 75,000 |
Weyerhaeuser Co |
2,136,750 | ||||||
|
|
|
|||||||
| TOTAL SPECIALIZED REITS |
29,666,520 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $88,542,088) |
100,035,349 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 98.7% (Cost $88,542,088) |
100,035,349 | |||||||
| OTHER ASSETS & LIABILITIES, NET - 1.3% |
1,302,091 | |||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 101,337,440 | ||||||
|
|
|
|||||||
ABBREVIATION(s):
| REIT | Real Estate Investment Trust |
| * | Non-income producing. |
| b | In bankruptcy. |
| m | Indicates a security that has been deemed illiquid. |
16
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
TIAA-CREF LIFE FUNDS
SMALL-CAP EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2013
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 97.6% |
||||||||
| AUTOMOBILES & COMPONENTS - 1.5% |
||||||||
| 11,169 |
Dana Holding Corp |
$ | 215,115 | |||||
| 690 |
Lear Corp |
41,717 | ||||||
| 2,410 |
Superior Industries International, Inc |
41,476 | ||||||
| 6,159 |
* | Tenneco, Inc |
278,880 | |||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
577,188 | |||||||
|
|
|
|||||||
| BANKS - 8.4% |
||||||||
| 7,764 |
Brookline Bancorp, Inc |
67,391 | ||||||
| 5,733 |
Columbia Banking System, Inc |
136,503 | ||||||
| 2,200 |
Community Bank System, Inc |
67,870 | ||||||
| 6,100 |
CVB Financial Corp |
71,736 | ||||||
| 17,019 |
FirstMerit Corp |
340,891 | ||||||
| 11,194 |
Home Loan Servicing Solutions Ltd |
268,320 | ||||||
| 13,761 |
National Penn Bancshares, Inc |
139,812 | ||||||
| 3,613 |
* | Ocwen Financial Corp |
148,928 | |||||
| 6,054 |
Old National Bancorp |
83,727 | ||||||
| 6,197 |
Oritani Financial Corp |
97,169 | ||||||
| 5,100 |
PrivateBancorp, Inc |
108,171 | ||||||
| 5,302 |
Prosperity Bancshares, Inc |
274,591 | ||||||
| 5,885 |
Provident Financial Services, Inc |
92,865 | ||||||
| 12,910 |
e | Radian Group, Inc |
150,014 | |||||
| 20,437 |
Susquehanna Bancshares, Inc |
262,615 | ||||||
| 3,854 |
* | SVB Financial Group |
321,115 | |||||
| 3,395 |
UMB Financial Corp |
189,000 | ||||||
| 15,996 |
Umpqua Holdings Corp |
240,100 | ||||||
| 3,700 |
Webster Financial Corp |
95,016 | ||||||
| 3,342 |
Wintrust Financial Corp |
127,932 | ||||||
|
|
|
|||||||
| TOTAL BANKS |
3,283,766 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 9.0% |
||||||||
| 3,300 |
Acuity Brands, Inc |
249,216 | ||||||
| 3,650 |
Alliant Techsystems, Inc |
300,504 | ||||||
| 866 |
Ampco-Pittsburgh Corp |
16,255 | ||||||
| 5,020 |
Applied Industrial Technologies, Inc |
242,617 | ||||||
| 741 |
Belden CDT, Inc |
36,998 | ||||||
| 2,962 |
Brady Corp (Class A) |
91,022 | ||||||
| 2,880 |
Crane Co |
172,570 | ||||||
| 1,413 |
Cubic Corp |
67,965 | ||||||
| 4,153 |
Curtiss-Wright Corp |
153,910 | ||||||
| 457 |
* | DXP Enterprises, Inc |
30,436 | |||||
| 4,067 |
EnerSys |
199,446 | ||||||
| 7,358 |
* | Federal Signal Corp |
64,383 | |||||
| 1,642 |
Franklin Electric Co, Inc |
55,253 | ||||||
| 2,956 |
Granite Construction, Inc |
87,971 | ||||||
| 3,090 |
* | Hexcel Corp |
105,214 | |||||
| 1,647 |
Kadant, Inc |
49,690 | ||||||
| 1,870 |
LB Foster Co (Class A) |
80,728 | ||||||
| 1,900 |
e | Lindsay Manufacturing Co |
142,462 | |||||
| 1,008 |
* | Middleby Corp |
171,451 | |||||
| 2,150 |
* | Moog, Inc (Class A) |
110,789 | |||||
| 2,600 |
Mueller Industries, Inc |
131,118 | ||||||
| 4,810 |
* | NCI Building Systems, Inc |
73,545 | |||||
| 6,036 |
Pike Electric Corp |
74,243 | ||||||
| 2,389 |
*,e | Proto Labs, Inc |
155,213 | |||||
17
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 3,680 |
* | Teledyne Technologies, Inc |
$ | 284,648 | ||||
| 3,855 |
* | Trex Co, Inc |
183,074 | |||||
| 2,400 |
* | WABCO Holdings, Inc |
179,256 | |||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
3,509,977 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 3.3% |
||||||||
| 1,016 |
Acacia Research (Acacia Technologies) |
22,708 | ||||||
| 4,172 |
* | Advisory Board Co |
228,000 | |||||
| 2,091 |
Corporate Executive Board Co |
132,193 | ||||||
| 1,321 |
Exponent, Inc |
78,084 | ||||||
| 3,293 |
Healthcare Services Group |
80,744 | ||||||
| 6,098 |
* | Korn/Ferry International |
114,277 | |||||
| 5,646 |
Rollins, Inc |
146,231 | ||||||
| 7,779 |
* | RPX Corp |
130,687 | |||||
| 1,949 |
* | Tetra Tech, Inc |
45,821 | |||||
| 6,771 |
* | TrueBlue, Inc |
142,530 | |||||
| 3,156 |
Viad Corp |
77,385 | ||||||
| 3,231 |
* | WageWorks, Inc |
111,308 | |||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
1,309,968 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 3.5% |
||||||||
| 7,439 |
*,e | Beazer Homes USA, Inc |
130,331 | |||||
| 8,070 |
Brunswick Corp |
257,837 | ||||||
| 9,907 |
* | CROCS, Inc |
163,465 | |||||
| 4,691 |
Harman International Industries, Inc |
254,252 | ||||||
| 4,230 |
* | iRobot Corp |
168,227 | |||||
| 12,500 |
*,e | Standard-Pacific Corp |
104,125 | |||||
| 2,400 |
* | Steven Madden Ltd |
116,112 | |||||
| 2,410 |
True Religion Apparel, Inc |
76,301 | ||||||
| 3,600 |
* | Tumi Holdings, Inc |
86,400 | |||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
1,357,050 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 3.8% |
||||||||
| 6,786 |
* | Boyd Gaming Corp |
76,682 | |||||
| 10,725 |
Hillenbrand, Inc |
254,290 | ||||||
| 3,504 |
* | Hyatt Hotels Corp |
141,421 | |||||
| 6,700 |
International Game Technology |
111,957 | ||||||
| 10,890 |
* | Krispy Kreme Doughnuts, Inc |
190,031 | |||||
| 8,800 |
* | MGM Mirage |
130,064 | |||||
| 4,700 |
* | Multimedia Games, Inc |
122,529 | |||||
| 13,000 |
* | Orient-Express Hotels Ltd (Class A) |
158,080 | |||||
| 655 |
* | Papa John’s International, Inc |
42,817 | |||||
| 4,696 |
Service Corp International |
84,669 | ||||||
| 9,500 |
* | SHFL Entertainment, Inc |
168,245 | |||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
1,480,785 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 3.8% |
||||||||
| 3,066 |
e | Cohen & Steers, Inc |
104,183 | |||||
| 2,400 |
Financial Engines, Inc |
109,416 | ||||||
| 5,529 |
Friedman Billings Ramsey Group, Inc (Class A) |
147,846 | ||||||
| 1,320 |
e | iShares Russell 2000 Index Fund |
128,251 | |||||
| 5,680 |
MarketAxess Holdings, Inc |
265,540 | ||||||
| 1,500 |
* | Portfolio Recovery Associates, Inc |
230,445 | |||||
| 9,760 |
e | Prospect Capital Corp |
105,408 | |||||
| 6,179 |
Solar Capital Ltd |
142,673 | ||||||
| 21,930 |
* | WisdomTree Investments, Inc |
253,730 | |||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
1,487,492 | |||||||
|
|
|
|||||||
| ENERGY - 5.5% |
||||||||
| 4,720 |
Alon USA Energy, Inc |
68,251 | ||||||
| 18,300 |
e | Arch Coal, Inc |
69,174 | |||||
| 4,914 |
Bristow Group, Inc |
320,982 | ||||||
| 2,200 |
Cimarex Energy Co |
142,978 | ||||||
18
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 3,600 |
Comstock Resources, Inc |
$ | 56,628 | |||||
| 4,927 |
Delek US Holdings, Inc |
141,799 | ||||||
| 2,846 |
Energy XXI Bermuda Ltd |
63,124 | ||||||
| 2,509 |
* | EPL Oil & Gas, Inc |
73,664 | |||||
| 28,692 |
Penn Virginia Corp |
134,853 | ||||||
| 4,452 |
* | Renewable Energy Group, Inc |
63,352 | |||||
| 3,423 |
* | Rosetta Resources, Inc |
145,546 | |||||
| 9,800 |
e | RPC, Inc |
135,338 | |||||
| 5,586 |
* | Stone Energy Corp |
123,060 | |||||
| 2,900 |
* | Swift Energy Co |
34,771 | |||||
| 3,699 |
Targa Resources Investments, Inc |
237,957 | ||||||
| 12,099 |
* | Vaalco Energy, Inc |
69,206 | |||||
| 7,270 |
W&T Offshore, Inc |
103,888 | ||||||
| 3,600 |
e | Western Refining, Inc |
101,052 | |||||
| 11,300 |
* | Willbros Group, Inc |
69,382 | |||||
|
|
|
|||||||
| TOTAL ENERGY |
2,155,005 | |||||||
|
|
|
|||||||
| FOOD & STAPLES RETAILING - 1.0% |
||||||||
| 118,390 |
*,e | Rite Aid Corp |
338,596 | |||||
| 848 |
Weis Markets, Inc |
38,219 | ||||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
376,815 | |||||||
|
|
|
|||||||
| FOOD, BEVERAGE & TOBACCO - 2.8% |
||||||||
| 3,213 |
*,e | Annie’s, Inc |
137,324 | |||||
| 192 |
*,e | Boston Beer Co, Inc (Class A) |
32,763 | |||||
| 2,600 |
*,e | Diamond Foods, Inc |
53,950 | |||||
| 3,750 |
Flowers Foods, Inc |
82,687 | ||||||
| 1,661 |
J&J Snack Foods Corp |
129,226 | ||||||
| 3,360 |
Lance, Inc |
95,457 | ||||||
| 16,452 |
* | Pilgrim’s Pride Corp |
245,793 | |||||
| 4,900 |
Sanderson Farms, Inc |
325,458 | ||||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
1,102,658 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 6.4% |
||||||||
| 7,846 |
*,e | Accretive Health, Inc |
84,815 | |||||
| 3,880 |
* | Align Technology, Inc |
143,715 | |||||
| 4,200 |
* | Amedisys, Inc |
48,804 | |||||
| 6,246 |
* | AMN Healthcare Services, Inc |
89,443 | |||||
| 1,167 |
Analogic Corp |
84,993 | ||||||
| 2,605 |
* | Arthrocare Corp |
89,951 | |||||
| 1,883 |
Cantel Medical Corp |
63,777 | ||||||
| 1,000 |
* | Centene Corp |
52,460 | |||||
| 2,434 |
Computer Programs & Systems, Inc |
119,607 | ||||||
| 5,081 |
* | Cyberonics, Inc |
264,009 | |||||
| 3,892 |
* | Cynosure, Inc (Class A) |
101,114 | |||||
| 7,584 |
Masimo Corp |
160,781 | ||||||
| 3,931 |
* | Medidata Solutions, Inc |
304,456 | |||||
| 1,612 |
* | MWI Veterinary Supply, Inc |
198,663 | |||||
| 5,700 |
* | NuVasive, Inc |
141,303 | |||||
| 4,566 |
* | Omnicell, Inc |
93,831 | |||||
| 7,300 |
* | Team Health Holdings, Inc |
299,811 | |||||
| 3,700 |
* | Thoratec Corp |
115,847 | |||||
| 6,859 |
Universal American Corp |
60,976 | ||||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
2,518,356 | |||||||
|
|
|
|||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 0.6% |
||||||||
| 3,770 |
* | Medifast, Inc |
97,115 | |||||
| 1,725 |
*,e | USANA Health Sciences, Inc |
124,856 | |||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
221,971 | |||||||
|
|
|
|||||||
| INSURANCE - 2.4% |
||||||||
| 878 |
Allied World Assurance Co Holdings Ltd |
80,346 | ||||||
| 3,200 |
American Financial Group, Inc |
156,512 | ||||||
19
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 14,019 |
Conseco, Inc |
$ | 181,686 | |||||
| 3,703 |
Employers Holdings, Inc |
90,538 | ||||||
| 9,998 |
First American Financial Corp |
220,356 | ||||||
| 2,626 |
Horace Mann Educators Corp |
64,022 | ||||||
| 2,800 |
Platinum Underwriters Holdings Ltd |
160,216 | ||||||
|
|
|
|||||||
| TOTAL INSURANCE |
953,676 | |||||||
|
|
|
|||||||
| MATERIALS - 4.6% |
||||||||
| 2,200 |
Balchem Corp |
98,450 | ||||||
| 6,000 |
* | Century Aluminum Co |
55,680 | |||||
| 4,970 |
* | Coeur d’Alene Mines Corp |
66,101 | |||||
| 257 |
*,e | Contango ORE, Inc |
2,110 | |||||
| 8,100 |
* | Flotek Industries, Inc |
145,314 | |||||
| 5,800 |
Globe Specialty Metals, Inc |
63,046 | ||||||
| 2,530 |
Kaiser Aluminum Corp |
156,708 | ||||||
| 446 |
Koppers Holdings, Inc |
17,028 | ||||||
| 4,668 |
Minerals Technologies, Inc |
192,975 | ||||||
| 4,093 |
* | OM Group, Inc |
126,556 | |||||
| 976 |
Quaker Chemical Corp |
60,522 | ||||||
| 9,430 |
*,e | Resolute Forest Products |
124,193 | |||||
| 3,130 |
* | RTI International Metals, Inc |
86,732 | |||||
| 5,307 |
Schnitzer Steel Industries, Inc (Class A) |
124,078 | ||||||
| 4,918 |
Schweitzer-Mauduit International, Inc |
245,310 | ||||||
| 2,110 |
*,e | Stillwater Mining Co |
22,661 | |||||
| 6,793 |
Worthington Industries, Inc |
215,406 | ||||||
|
|
|
|||||||
| TOTAL MATERIALS |
1,802,870 | |||||||
|
|
|
|||||||
| MEDIA - 1.8% |
||||||||
| 975 |
Arbitron, Inc |
45,289 | ||||||
| 7,249 |
* | EW Scripps Co (Class A) |
112,939 | |||||
| 9,300 |
Interpublic Group of Cos, Inc |
135,315 | ||||||
| 10,049 |
* | Journal Communications, Inc (Class A) |
75,267 | |||||
| 18,700 |
* | Live Nation, Inc |
289,850 | |||||
| 900 |
Loral Space & Communications, Inc |
53,982 | ||||||
|
|
|
|||||||
| TOTAL MEDIA |
712,642 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.1% |
||||||||
| 5,620 |
* | Acorda Therapeutics, Inc |
185,404 | |||||
| 1,457 |
* | Alkermes plc |
41,787 | |||||
| 4,335 |
* | AMAG Pharmaceuticals, Inc |
96,454 | |||||
| 15,700 |
* | Array Biopharma, Inc |
71,278 | |||||
| 5,400 |
* | Auxilium Pharmaceuticals, Inc |
89,802 | |||||
| 4,586 |
* | Cepheid, Inc |
157,850 | |||||
| 3,600 |
*,e | Genomic Health, Inc |
114,156 | |||||
| 3,089 |
* | Impax Laboratories, Inc |
61,625 | |||||
| 927 |
* | Jazz Pharmaceuticals plc |
63,713 | |||||
| 7,084 |
* | Medicines Co |
217,904 | |||||
| 11,720 |
*,e | Orexigen Therapeutics, Inc |
68,562 | |||||
| 6,300 |
* | Parexel International Corp |
289,422 | |||||
| 1,280 |
* | Pharmacyclics, Inc |
101,721 | |||||
| 1,031 |
e | Questcor Pharmaceuticals, Inc |
46,869 | |||||
| 10,152 |
* | Santarus, Inc |
213,700 | |||||
| 6,400 |
* | Viropharma, Inc |
183,360 | |||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
2,003,607 | |||||||
|
|
|
|||||||
| REAL ESTATE - 8.2% |
||||||||
| 5,831 |
Chesapeake Lodging Trust |
121,227 | ||||||
| 2,900 |
Coresite Realty |
92,249 | ||||||
| 9,600 |
DuPont Fabros Technology, Inc |
231,840 | ||||||
| 2,679 |
Equity Lifestyle Properties, Inc |
210,543 | ||||||
| 6,570 |
Extra Space Storage, Inc |
275,480 | ||||||
| 7,190 |
Government Properties Income Trust |
181,332 | ||||||
| 3,338 |
Home Properties, Inc |
218,205 | ||||||
20
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,357 |
Lexington Corporate Properties Trust |
$ | 27,530 | |||||
| 3,324 |
LTC Properties, Inc |
129,802 | ||||||
| 12,000 |
Omega Healthcare Investors, Inc |
372,240 | ||||||
| 4,086 |
Parkway Properties, Inc |
68,481 | ||||||
| 9,030 |
Pennsylvania Real Estate Investment Trust |
170,486 | ||||||
| 2,229 |
PS Business Parks, Inc |
160,867 | ||||||
| 17,848 |
RAIT Investment Trust |
134,217 | ||||||
| 11,893 |
RLJ Lodging Trust |
267,474 | ||||||
| 1,524 |
Saul Centers, Inc |
67,757 | ||||||
| 3,937 |
Sovran Self Storage, Inc |
255,078 | ||||||
| 800 |
Starwood Property Trust, Inc |
19,800 | ||||||
| 1,010 |
Sun Communities, Inc |
50,258 | ||||||
| 12,218 |
* | Sunstone Hotel Investors, Inc |
147,593 | |||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
3,202,459 | |||||||
|
|
|
|||||||
| RETAILING - 4.0% |
||||||||
| 2,100 |
Advance Auto Parts, Inc |
170,457 | ||||||
| 2,680 |
* | Ann Taylor Stores Corp |
88,976 | |||||
| 3,200 |
* | Autonation, Inc |
138,848 | |||||
| 5,013 |
Big 5 Sporting Goods Corp |
110,035 | ||||||
| 13,538 |
* | Christopher & Banks Corp |
91,246 | |||||
| 9,290 |
* | Express Parent LLC |
194,811 | |||||
| 3,940 |
* | Francesca’s Holdings Corp |
109,493 | |||||
| 1,710 |
e | GameStop Corp (Class A) |
71,871 | |||||
| 10,930 |
* | Orbitz Worldwide, Inc |
87,768 | |||||
| 2,728 |
*,e | Overstock.com, Inc |
76,930 | |||||
| 2,300 |
Penske Auto Group, Inc |
70,242 | ||||||
| 14,700 |
*,e | RadioShack Corp |
46,452 | |||||
| 2,700 |
* | Shutterfly, Inc |
150,633 | |||||
| 5,220 |
* | Zumiez, Inc |
150,075 | |||||
|
|
|
|||||||
| TOTAL RETAILING |
1,557,837 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.9% |
||||||||
| 4,600 |
* | Advanced Energy Industries, Inc |
80,086 | |||||
| 5,809 |
* | Cavium Networks, Inc |
205,464 | |||||
| 10,123 |
* | Entegris, Inc |
95,055 | |||||
| 15,100 |
* | Entropic Communications, Inc |
64,477 | |||||
| 14,020 |
* | Integrated Device Technology, Inc |
111,319 | |||||
| 13,698 |
* | Lattice Semiconductor Corp |
69,449 | |||||
| 4,831 |
MKS Instruments, Inc |
128,215 | ||||||
| 16,783 |
* | Rambus, Inc |
144,166 | |||||
| 15,900 |
* | Silicon Image, Inc |
93,015 | |||||
| 5,170 |
* | SunEdison, Inc |
42,239 | |||||
| 5,410 |
* | Teradyne, Inc |
95,054 | |||||
| 7,228 |
Tessera Technologies, Inc |
150,342 | ||||||
| 4,086 |
* | Ultratech, Inc |
150,038 | |||||
| 5,443 |
* | Volterra Semiconductor Corp |
76,855 | |||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
1,505,774 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 8.5% |
||||||||
| 1,649 |
* | Angie’s List, Inc |
43,781 | |||||
| 8,346 |
* | Aspen Technology, Inc |
240,281 | |||||
| 4,334 |
* | Commvault Systems, Inc |
328,907 | |||||
| 4,427 |
* | Cornerstone OnDemand, Inc |
191,645 | |||||
| 2,757 |
DST Systems, Inc |
180,115 | ||||||
| 2,700 |
* | ExactTarget, Inc |
91,044 | |||||
| 2,008 |
Forrester Research, Inc |
73,673 | ||||||
| 3,700 |
* | Gartner, Inc |
210,863 | |||||
| 810 |
* | Guidewire Software, Inc |
34,060 | |||||
| 8,033 |
* | Infoblox, Inc |
235,046 | |||||
| 190 |
* | LinkedIn Corp |
33,877 | |||||
| 6,158 |
* | LogMeIn, Inc |
150,625 | |||||
| 3,383 |
* | Manhattan Associates, Inc |
261,032 | |||||
| 4,199 |
MAXIMUS, Inc |
312,742 | ||||||
21
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,758 |
* | PROS Holdings, Inc |
$ | 82,602 | ||||
| 7,000 |
* | QLIK Technologies, Inc |
197,890 | |||||
| 4,100 |
* | Seachange International, Inc |
48,011 | |||||
| 50 |
* | Sourcefire, Inc |
2,777 | |||||
| 3,421 |
* | SYKES Enterprises, Inc |
53,915 | |||||
| 2,255 |
Syntel, Inc |
141,772 | ||||||
| 11,536 |
* | TiVo, Inc |
127,473 | |||||
| 3,000 |
*,e | Trulia, Inc |
93,270 | |||||
| 1,941 |
* | Virtusa Corp |
43,013 | |||||
| 5,228 |
* | WebMD Health Corp (Class A) |
153,546 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
3,331,960 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 4.4% |
||||||||
| 2,277 |
* | Agilysys, Inc |
25,707 | |||||
| 9,100 |
* | ARRIS Group, Inc |
130,585 | |||||
| 5,150 |
* | Aruba Networks, Inc |
79,104 | |||||
| 6,439 |
* | Audience, Inc |
85,059 | |||||
| 7,000 |
* | Brocade Communications Systems, Inc |
40,320 | |||||
| 11,400 |
* | Calix Networks, Inc |
115,140 | |||||
| 4,963 |
* | Cray, Inc |
97,473 | |||||
| 4,930 |
* | Datalink Corp |
52,455 | |||||
| 721 |
* | Extreme Networks, Inc |
2,488 | |||||
| 8,507 |
* | Immersion Corp |
112,718 | |||||
| 11,168 |
*,e | InvenSense, Inc |
171,764 | |||||
| 5,850 |
* | Ixia |
107,640 | |||||
| 1,904 |
Littelfuse, Inc |
142,058 | ||||||
| 3,051 |
* | Plexus Corp |
91,194 | |||||
| 3,400 |
* | Procera Networks, Inc |
46,682 | |||||
| 15,900 |
* | QLogic Corp |
152,004 | |||||
| 1,780 |
*,e | Ruckus Wireless, Inc |
22,802 | |||||
| 6,067 |
* | Synaptics, Inc |
233,943 | |||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
1,709,136 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 0.3% |
||||||||
| 15,800 |
* | 8x8, Inc |
130,192 | |||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
130,192 | |||||||
|
|
|
|||||||
| TRANSPORTATION - 2.1% |
||||||||
| 2,014 |
* | Alaska Air Group, Inc |
104,728 | |||||
| 1,199 |
Amerco, Inc |
194,118 | ||||||
| 3,440 |
Forward Air Corp |
131,683 | ||||||
| 3,271 |
Matson, Inc |
81,775 | ||||||
| 5,412 |
* | Republic Airways Holdings, Inc |
61,318 | |||||
| 14,800 |
* | Swift Transportation Co, Inc |
244,792 | |||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
818,414 | |||||||
|
|
|
|||||||
| UTILITIES - 2.7% |
||||||||
| 3,270 |
American States Water Co |
175,501 | ||||||
| 7,713 |
Avista Corp |
208,405 | ||||||
| 6,200 |
Black Hills Corp |
302,250 | ||||||
| 957 |
El Paso Electric Co |
33,792 | ||||||
| 5,773 |
Empire District Electric Co |
128,796 | ||||||
| 3,368 |
Genie Energy Ltd |
30,817 | ||||||
| 1,581 |
New Jersey Resources Corp |
65,659 | ||||||
| 2,340 |
Southwest Gas Corp |
109,488 | ||||||
|
|
|
|||||||
| TOTAL UTILITIES |
1,054,708 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $32,824,557) |
38,164,306 | |||||||
|
|
|
|||||||
22
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| SHORT-TERM INVESTMENTS - 7.2% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 7.2% |
||||||||
| 2,803,313 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
$ | 2,803,313 | ||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
2,803,313 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,803,313) |
2,803,313 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 104.8% (Cost $35,627,870) |
40,967,619 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (4.8)% |
(1,863,479 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 39,104,140 | ||||||
|
|
|
|||||||
| * | Non-income producing. |
| c | Investments made with cash collateral received from securities on loan. |
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan is $2,727,625. |
23
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
TIAA-CREF LIFE FUNDS
SOCIAL CHOICE EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2013
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 99.3% |
||||||||
| AUTOMOBILES & COMPONENTS - 1.6% |
||||||||
| 325 |
* | BorgWarner, Inc |
$ | 27,999 | ||||
| 27,434 |
Ford Motor Co |
424,404 | ||||||
| 2,327 |
Harley-Davidson, Inc |
127,566 | ||||||
| 6,906 |
Johnson Controls, Inc |
247,166 | ||||||
| 292 |
* | Modine Manufacturing Co |
3,177 | |||||
| 853 |
* | Tenneco, Inc |
38,624 | |||||
| 66 |
* | Tesla Motors, Inc |
7,090 | |||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
876,026 | |||||||
|
|
|
|||||||
| BANKS - 3.5% |
||||||||
| 470 |
Associated Banc-Corp |
7,309 | ||||||
| 196 |
Bank of Hawaii Corp |
9,863 | ||||||
| 9,534 |
BB&T Corp |
323,012 | ||||||
| 200 |
Boston Private Financial Holdings, Inc |
2,128 | ||||||
| 363 |
CapitalSource, Inc |
3,405 | ||||||
| 38 |
Capitol Federal Financial |
461 | ||||||
| 72 |
Centerstate Banks of Florida, Inc |
625 | ||||||
| 91 |
* | CIT Group, Inc |
4,243 | |||||
| 1,446 |
Comerica, Inc |
57,594 | ||||||
| 22 |
Community Bank System, Inc |
679 | ||||||
| 69 |
Cullen/Frost Bankers, Inc |
4,607 | ||||||
| 1,357 |
Huntington Bancshares, Inc |
10,693 | ||||||
| 88 |
IBERIABANK Corp |
4,718 | ||||||
| 19,629 |
Keycorp |
216,704 | ||||||
| 2,538 |
M&T Bank Corp |
283,622 | ||||||
| 161 |
MainSource Financial Group, Inc |
2,162 | ||||||
| 1,196 |
New York Community Bancorp, Inc |
16,744 | ||||||
| 145 |
Old National Bancorp |
2,005 | ||||||
| 18 |
Peoples Bancorp, Inc |
379 | ||||||
| 189 |
People’s United Financial, Inc |
2,816 | ||||||
| 4,945 |
PNC Financial Services Group, Inc |
360,590 | ||||||
| 844 |
* | Popular, Inc |
25,599 | |||||
| 188 |
PrivateBancorp, Inc |
3,987 | ||||||
| 355 |
Provident Financial Services, Inc |
5,602 | ||||||
| 6,559 |
Radian Group, Inc |
76,216 | ||||||
| 2,378 |
* | Sun Bancorp, Inc |
8,061 | |||||
| 160 |
Susquehanna Bancshares, Inc |
2,056 | ||||||
| 269 |
* | SVB Financial Group |
22,413 | |||||
| 31 |
TCF Financial Corp |
440 | ||||||
| 50 |
UMB Financial Corp |
2,783 | ||||||
| 102 |
United Bankshares, Inc |
2,698 | ||||||
| 12,721 |
US Bancorp |
459,864 | ||||||
| 107 |
Webster Financial Corp |
2,748 | ||||||
| 49 |
Westamerica Bancorporation |
2,239 | ||||||
| 1,000 |
Wilshire Bancorp, Inc |
6,620 | ||||||
| 290 |
Zions Bancorporation |
8,375 | ||||||
|
|
|
|||||||
| TOTAL BANKS |
1,944,060 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 7.5% |
||||||||
| 4,279 |
3M Co |
467,909 | ||||||
| 178 |
A.O. Smith Corp |
6,458 | ||||||
| 103 |
Actuant Corp (Class A) |
3,396 | ||||||
| 39 |
Acuity Brands, Inc |
2,945 | ||||||
| 5,350 |
Ametek, Inc |
226,305 | ||||||
| 17 |
Applied Industrial Technologies, Inc |
822 | ||||||
| 400 |
* | ArvinMeritor, Inc |
2,820 | |||||
24
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 90 |
Astec Industries, Inc |
$ | 3,086 | |||||
| 1,080 |
Barnes Group, Inc |
32,389 | ||||||
| 41 |
Belden CDT, Inc |
2,047 | ||||||
| 200 |
Briggs & Stratton Corp |
3,960 | ||||||
| 1,027 |
* | Builders FirstSource, Inc |
6,142 | |||||
| 33 |
* | Chart Industries, Inc |
3,105 | |||||
| 12 |
Clarcor, Inc |
627 | ||||||
| 81 |
* | Colfax Corp |
4,221 | |||||
| 2,049 |
Cummins, Inc |
222,235 | ||||||
| 5,649 |
Danaher Corp |
357,582 | ||||||
| 4,044 |
Deere & Co |
328,575 | ||||||
| 531 |
Dover Corp |
41,237 | ||||||
| 3,027 |
Eaton Corp |
199,207 | ||||||
| 6,639 |
Emerson Electric Co |
362,091 | ||||||
| 1,559 |
Fastenal Co |
71,480 | ||||||
| 17 |
Gardner Denver, Inc |
1,278 | ||||||
| 536 |
Graco, Inc |
33,881 | ||||||
| 117 |
* | Hexcel Corp |
3,984 | |||||
| 4,828 |
Illinois Tool Works, Inc |
333,953 | ||||||
| 1,200 |
Ingersoll-Rand plc |
66,624 | ||||||
| 80 |
* | Layne Christensen Co |
1,561 | |||||
| 245 |
Lincoln Electric Holdings, Inc |
14,031 | ||||||
| 4,236 |
Masco Corp |
82,560 | ||||||
| 59 |
MSC Industrial Direct Co (Class A) |
4,570 | ||||||
| 1,172 |
Nordson Corp |
81,231 | ||||||
| 1,604 |
* | Owens Corning, Inc |
62,684 | |||||
| 3,234 |
Paccar, Inc |
173,536 | ||||||
| 380 |
Pall Corp |
25,243 | ||||||
| 274 |
Parker Hannifin Corp |
26,140 | ||||||
| 1,138 |
Pentair Ltd |
65,651 | ||||||
| 342 |
* | Polypore International, Inc |
13,783 | |||||
| 1,604 |
Precision Castparts Corp |
362,520 | ||||||
| 1,131 |
* | Quanta Services, Inc |
29,926 | |||||
| 883 |
Rockwell Automation, Inc |
73,413 | ||||||
| 337 |
Rockwell Collins, Inc |
21,369 | ||||||
| 400 |
Roper Industries, Inc |
49,688 | ||||||
| 147 |
Snap-On, Inc |
13,139 | ||||||
| 1,930 |
* | Spirit Aerosystems Holdings, Inc (Class A) |
41,456 | |||||
| 55 |
TAL International Group, Inc |
2,396 | ||||||
| 994 |
Tennant Co |
47,980 | ||||||
| 143 |
Timken Co |
8,048 | ||||||
| 377 |
* | United Rentals, Inc |
18,816 | |||||
| 23 |
Valmont Industries, Inc |
3,291 | ||||||
| 44 |
W.W. Grainger, Inc |
11,096 | ||||||
| 326 |
* | WABCO Holdings, Inc |
24,349 | |||||
| 8 |
Watsco, Inc |
672 | ||||||
| 264 |
* | WESCO International, Inc |
17,941 | |||||
| 666 |
Westinghouse Air Brake Technologies Corp |
35,584 | ||||||
| 179 |
Woodward Governor Co |
7,160 | ||||||
| 86 |
Xylem, Inc |
2,317 | ||||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
4,110,510 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.8% |
||||||||
| 1,916 |
* | ACCO Brands Corp |
12,186 | |||||
| 1,453 |
Avery Dennison Corp |
62,130 | ||||||
| 93 |
Corporate Executive Board Co |
5,879 | ||||||
| 160 |
Deluxe Corp |
5,544 | ||||||
| 798 |
Dun & Bradstreet Corp |
77,765 | ||||||
| 217 |
Equifax, Inc |
12,788 | ||||||
| 168 |
HNI Corp |
6,060 | ||||||
| 73 |
* | IHS, Inc (Class A) |
7,620 | |||||
| 190 |
Interface, Inc |
3,224 | ||||||
| 1,174 |
Iron Mountain, Inc |
31,240 | ||||||
| 291 |
Manpower, Inc |
15,947 | ||||||
| 178 |
R.R. Donnelley & Sons Co |
2,494 | ||||||
25
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,573 |
Robert Half International, Inc |
$ | 52,271 | |||||
| 160 |
* | RPX Corp |
2,688 | |||||
| 431 |
* | Tetra Tech, Inc |
10,133 | |||||
| 2,134 |
Tyco International Ltd |
70,315 | ||||||
| 1,709 |
Waste Management, Inc |
68,924 | ||||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
447,208 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 1.2% |
||||||||
| 200 |
Callaway Golf Co |
1,316 | ||||||
| 91 |
Carter’s, Inc |
6,740 | ||||||
| 5 |
Columbia Sportswear Co |
313 | ||||||
| 14 |
* | Deckers Outdoor Corp |
707 | |||||
| 13 |
Hasbro, Inc |
583 | ||||||
| 16 |
* | Iconix Brand Group, Inc |
471 | |||||
| 4,953 |
Mattel, Inc |
224,421 | ||||||
| 72 |
* | Meritage Homes Corp |
3,122 | |||||
| 95 |
* | Mohawk Industries, Inc |
10,687 | |||||
| 200 |
Movado Group, Inc |
6,766 | ||||||
| 4,980 |
Nike, Inc (Class B) |
317,126 | ||||||
| 152 |
Oxford Industries, Inc |
9,485 | ||||||
| 270 |
Ryland Group, Inc |
10,827 | ||||||
| 71 |
* | Tempur-Pedic International, Inc |
3,117 | |||||
| 128 |
Tupperware Corp |
9,944 | ||||||
| 202 |
* | Under Armour, Inc (Class A) |
12,061 | |||||
| 216 |
VF Corp |
41,701 | ||||||
| 92 |
Whirlpool Corp |
10,521 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
669,908 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 2.5% |
||||||||
| 288 |
* | AFC Enterprises |
10,351 | |||||
| 55 |
Bob Evans Farms, Inc |
2,584 | ||||||
| 200 |
Brinker International, Inc |
7,886 | ||||||
| 75 |
* | Chipotle Mexican Grill, Inc (Class A) |
27,326 | |||||
| 965 |
Choice Hotels International, Inc |
38,301 | ||||||
| 835 |
Darden Restaurants, Inc |
42,151 | ||||||
| 13 |
DineEquity, Inc |
895 | ||||||
| 128 |
Domino’s Pizza, Inc |
7,443 | ||||||
| 60 |
Dunkin Brands Group, Inc |
2,569 | ||||||
| 3,596 |
Marriott International, Inc (Class A) |
145,171 | ||||||
| 5,495 |
McDonald’s Corp |
544,005 | ||||||
| 69 |
* | Outerwall, Inc |
4,048 | |||||
| 29 |
* | Panera Bread Co (Class A) |
5,392 | |||||
| 333 |
Royal Caribbean Cruises Ltd |
11,102 | ||||||
| 177 |
* | Sonic Corp |
2,577 | |||||
| 6,173 |
Starbucks Corp |
404,270 | ||||||
| 1,270 |
Starwood Hotels & Resorts Worldwide, Inc |
80,251 | ||||||
| 91 |
Strayer Education, Inc |
4,444 | ||||||
| 6 |
Vail Resorts, Inc |
369 | ||||||
| 91 |
Weight Watchers International, Inc |
4,186 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
1,345,321 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 7.3% |
||||||||
| 2,432 |
* | American Capital Ltd |
30,813 | |||||
| 6,376 |
American Express Co |
476,670 | ||||||
| 12,182 |
Bank of New York Mellon Corp |
341,705 | ||||||
| 1,330 |
BlackRock, Inc |
341,611 | ||||||
| 5,819 |
Capital One Financial Corp |
365,491 | ||||||
| 14,123 |
Charles Schwab Corp |
299,831 | ||||||
| 2,972 |
CME Group, Inc |
225,812 | ||||||
| 6,687 |
Discover Financial Services |
318,569 | ||||||
| 491 |
Evercore Partners, Inc (Class A) |
19,286 | ||||||
| 2,069 |
Franklin Resources, Inc |
281,425 | ||||||
| 221 |
* | Green Dot Corp |
4,409 | |||||
| 894 |
* | IntercontinentalExchange, Inc |
158,917 | |||||
26
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 4,927 |
Invesco Ltd |
$ | 156,679 | |||||
| 466 |
Janus Capital Group, Inc |
3,966 | ||||||
| 566 |
Legg Mason, Inc |
17,552 | ||||||
| 171 |
Main Street Capital Corp |
4,735 | ||||||
| 672 |
Nasdaq Stock Market, Inc |
22,035 | ||||||
| 1,318 |
* | NewStar Financial, Inc |
17,556 | |||||
| 4,872 |
Northern Trust Corp |
282,089 | ||||||
| 2,314 |
NYSE Euronext |
95,800 | ||||||
| 176 |
* | PHH Corp |
3,587 | |||||
| 4,804 |
State Street Corp |
313,269 | ||||||
| 2,816 |
T Rowe Price Group, Inc |
205,990 | ||||||
| 123 |
Triangle Capital Corp |
3,384 | ||||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
3,991,181 | |||||||
|
|
|
|||||||
| ENERGY - 9.7% |
||||||||
| 3,011 |
Apache Corp |
252,412 | ||||||
| 108 |
* | Atwood Oceanics, Inc |
5,621 | |||||
| 113 |
* | C&J Energy Services, Inc |
2,189 | |||||
| 2,483 |
* | Cameron International Corp |
151,860 | |||||
| 136 |
* | Carrizo Oil & Gas, Inc |
3,853 | |||||
| 1,448 |
* | Cheniere Energy, Inc |
40,197 | |||||
| 776 |
Cimarex Energy Co |
50,432 | ||||||
| 2,376 |
* | Clean Energy Fuels Corp |
31,363 | |||||
| 246 |
Comstock Resources, Inc |
3,870 | ||||||
| 232 |
* | Concho Resources, Inc |
19,423 | |||||
| 433 |
Contango Oil & Gas Co |
14,614 | ||||||
| 1,342 |
* | Continental Resources, Inc |
115,493 | |||||
| 135 |
CVR Energy, Inc |
6,399 | ||||||
| 980 |
*,m | CVR Energy, Inc (Contingent value right) |
0 | |||||
| 112 |
* | Dawson Geophysical Co |
4,128 | |||||
| 4,123 |
* | Denbury Resources, Inc |
71,410 | |||||
| 4,036 |
* | Devon Energy Corp |
209,388 | |||||
| 2,623 |
EOG Resources, Inc |
345,397 | ||||||
| 2,848 |
Equitable Resources, Inc |
226,046 | ||||||
| 49 |
* | Exterran Holdings, Inc |
1,378 | |||||
| 2,547 |
* | FMC Technologies, Inc |
141,817 | |||||
| 66 |
* | Geospace Technologies Corp |
4,559 | |||||
| 1,203 |
* | Hercules Offshore, Inc |
8,469 | |||||
| 3,314 |
Hess Corp |
220,348 | ||||||
| 1,384 |
* | Hornbeck Offshore Services, Inc |
74,044 | |||||
| 564 |
* | ION Geophysical Corp |
3,395 | |||||
| 344 |
* | Key Energy Services, Inc |
2,047 | |||||
| 269 |
* | Kinder Morgan Management LLC |
22,486 | |||||
| 6,061 |
* | Kodiak Oil & Gas Corp |
53,882 | |||||
| 6,653 |
Marathon Oil Corp |
230,061 | ||||||
| 3,754 |
Marathon Petroleum Corp |
266,759 | ||||||
| 159 |
* | Matrix Service Co |
2,477 | |||||
| 4,387 |
National Oilwell Varco, Inc |
302,264 | ||||||
| 103 |
* | Natural Gas Services Group, Inc |
2,420 | |||||
| 1,585 |
Noble Corp |
59,564 | ||||||
| 4,874 |
Noble Energy, Inc |
292,635 | ||||||
| 230 |
* | Northern Oil And Gas, Inc |
3,068 | |||||
| 166 |
* | Oasis Petroleum, Inc |
6,452 | |||||
| 4,970 |
Occidental Petroleum Corp |
443,473 | ||||||
| 307 |
Oceaneering International, Inc |
22,165 | ||||||
| 227 |
* | Oil States International, Inc |
21,029 | |||||
| 259 |
* | PDC Energy, Inc |
13,333 | |||||
| 415 |
* | Petroquest Energy, Inc |
1,643 | |||||
| 4,958 |
Phillips 66 |
292,076 | ||||||
| 1,709 |
Pioneer Natural Resources Co |
247,378 | ||||||
| 2,482 |
Questar Market Resources, Inc |
68,950 | ||||||
| 846 |
* | Quicksilver Resources, Inc |
1,421 | |||||
| 1,298 |
Range Resources Corp |
100,361 | ||||||
| 233 |
* | Rex Energy Corp |
4,096 | |||||
| 5 |
SEACOR Holdings, Inc |
415 | ||||||
27
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 284 |
* | Solazyme, Inc |
$ | 3,329 | ||||
| 2,801 |
* | Southwestern Energy Co |
102,321 | |||||
| 8,693 |
Spectra Energy Corp |
299,561 | ||||||
| 942 |
St. Mary Land & Exploration Co |
56,501 | ||||||
| 695 |
* | Superior Energy Services |
18,028 | |||||
| 640 |
* | Ultra Petroleum Corp |
12,685 | |||||
| 367 |
* | Unit Corp |
15,627 | |||||
| 8,935 |
* | Weatherford International Ltd |
122,410 | |||||
| 2,878 |
Western Refining, Inc |
80,785 | ||||||
| 1,161 |
* | Whiting Petroleum Corp |
53,511 | |||||
| 3,970 |
Williams Cos, Inc |
128,906 | ||||||
|
|
|
|||||||
| TOTAL ENERGY |
5,362,224 | |||||||
|
|
|
|||||||
| FOOD & STAPLES RETAILING - 1.0% |
||||||||
| 123 |
Casey’s General Stores, Inc |
7,400 | ||||||
| 8 |
Harris Teeter Supermarkets, Inc |
375 | ||||||
| 3,579 |
Kroger Co |
123,618 | ||||||
| 3,106 |
Safeway, Inc |
73,488 | ||||||
| 128 |
Spartan Stores, Inc |
2,360 | ||||||
| 7,920 |
Sysco Corp |
270,547 | ||||||
| 1,766 |
Whole Foods Market, Inc |
90,914 | ||||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
568,702 | |||||||
|
|
|
|||||||
| FOOD, BEVERAGE & TOBACCO - 3.7% |
||||||||
| 125 |
Bunge Ltd |
8,846 | ||||||
| 2,543 |
Campbell Soup Co |
113,901 | ||||||
| 1,284 |
ConAgra Foods, Inc |
44,850 | ||||||
| 151 |
* | Darling International, Inc |
2,818 | |||||
| 302 |
Dr Pepper Snapple Group, Inc |
13,871 | ||||||
| 128 |
Flowers Foods, Inc |
2,811 | ||||||
| 6,996 |
General Mills, Inc |
339,516 | ||||||
| 636 |
* | Green Mountain Coffee Roasters, Inc |
47,738 | |||||
| 45 |
* | Hain Celestial Group, Inc |
2,924 | |||||
| 610 |
Hillshire Brands Co |
20,179 | ||||||
| 168 |
Hormel Foods Corp |
6,481 | ||||||
| 364 |
J.M. Smucker Co |
37,547 | ||||||
| 4,515 |
Kellogg Co |
289,998 | ||||||
| 1,310 |
Kraft Foods Group, Inc |
73,190 | ||||||
| 51 |
Lancaster Colony Corp |
3,977 | ||||||
| 194 |
McCormick & Co, Inc |
13,650 | ||||||
| 715 |
Mead Johnson Nutrition Co |
56,649 | ||||||
| 11,664 |
Mondelez International, Inc |
332,774 | ||||||
| 7,831 |
PepsiCo, Inc |
640,498 | ||||||
| 84 |
Tootsie Roll Industries, Inc |
2,670 | ||||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
2,054,888 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 3.4% |
||||||||
| 11,664 |
Abbott Laboratories |
406,840 | ||||||
| 4,423 |
Aetna, Inc |
281,037 | ||||||
| 79 |
* | Align Technology, Inc |
2,926 | |||||
| 648 |
* | Amedisys, Inc |
7,530 | |||||
| 67 |
AmerisourceBergen Corp |
3,741 | ||||||
| 55 |
* | Amsurg Corp |
1,930 | |||||
| 3,092 |
Becton Dickinson & Co |
305,582 | ||||||
| 263 |
* | BioScrip, Inc |
4,340 | |||||
| 97 |
* | Brookdale Senior Living, Inc |
2,565 | |||||
| 527 |
* | Centene Corp |
27,646 | |||||
| 94 |
* | Cerner Corp |
9,032 | |||||
| 41 |
Chemed Corp |
2,970 | ||||||
| 1,838 |
Cigna Corp |
133,239 | ||||||
| 55 |
Dentsply International, Inc |
2,253 | ||||||
| 121 |
* | Edwards Lifesciences Corp |
8,131 | |||||
| 220 |
* | ExamWorks Group, Inc |
4,671 | |||||
28
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 85 |
* | Greatbatch, Inc |
$ | 2,787 | ||||
| 147 |
* | Henry Schein, Inc |
14,075 | |||||
| 84 |
* | HMS Holdings Corp |
1,957 | |||||
| 1,148 |
Humana, Inc |
96,868 | ||||||
| 418 |
* | Idexx Laboratories, Inc |
37,528 | |||||
| 33 |
Invacare Corp |
474 | ||||||
| 599 |
* | Inverness Medical Innovations, Inc |
14,675 | |||||
| 548 |
* | LifePoint Hospitals, Inc |
26,764 | |||||
| 80 |
* | MAKO Surgical Corp |
964 | |||||
| 7,921 |
Medtronic, Inc |
407,694 | ||||||
| 534 |
* | Molina Healthcare, Inc |
19,854 | |||||
| 70 |
* | MWI Veterinary Supply, Inc |
8,627 | |||||
| 61 |
Owens & Minor, Inc |
2,064 | ||||||
| 807 |
Patterson Cos, Inc |
30,343 | ||||||
| 35 |
* | Sirona Dental Systems, Inc |
2,306 | |||||
| 221 |
* | Vanguard Health Systems, Inc |
4,584 | |||||
| 193 |
* | Vocera Communications, Inc |
2,837 | |||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
1,878,834 | |||||||
|
|
|
|||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 3.3% |
||||||||
| 171 |
Avon Products, Inc |
3,596 | ||||||
| 320 |
Clorox Co |
26,605 | ||||||
| 6,736 |
Colgate-Palmolive Co |
385,905 | ||||||
| 2,566 |
Estee Lauder Cos (Class A) |
168,766 | ||||||
| 227 |
Herbalife Ltd |
10,247 | ||||||
| 3,355 |
Kimberly-Clark Corp |
325,904 | ||||||
| 350 |
* | Medifast, Inc |
9,016 | |||||
| 124 |
Nu Skin Enterprises, Inc (Class A) |
7,579 | ||||||
| 11,640 |
Procter & Gamble Co |
896,164 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
1,833,782 | |||||||
|
|
|
|||||||
| INSURANCE - 5.8% |
||||||||
| 3,550 |
ACE Ltd |
317,654 | ||||||
| 5,724 |
Aflac, Inc |
332,679 | ||||||
| 105 |
Arthur J. Gallagher & Co |
4,587 | ||||||
| 1,233 |
Aspen Insurance Holdings Ltd |
45,732 | ||||||
| 239 |
Axis Capital Holdings Ltd |
10,941 | ||||||
| 7,676 |
* | Berkshire Hathaway, Inc (Class B) |
859,098 | |||||
| 3,644 |
Chubb Corp |
308,465 | ||||||
| 155 |
Endurance Specialty Holdings Ltd |
7,975 | ||||||
| 5,530 |
* | Genworth Financial, Inc (Class A) |
63,097 | |||||
| 1,305 |
Marsh & McLennan Cos, Inc |
52,096 | ||||||
| 1,181 |
Montpelier Re Holdings Ltd |
29,537 | ||||||
| 572 |
* | National Financial Partners Corp |
14,477 | |||||
| 107 |
PartnerRe Ltd |
9,690 | ||||||
| 522 |
Platinum Underwriters Holdings Ltd |
29,869 | ||||||
| 138 |
Primerica, Inc |
5,167 | ||||||
| 3,348 |
Principal Financial Group |
125,383 | ||||||
| 14 |
ProAssurance Corp |
730 | ||||||
| 9,122 |
Progressive Corp |
231,881 | ||||||
| 300 |
Protective Life Corp |
11,523 | ||||||
| 5,183 |
Prudential Financial, Inc |
378,515 | ||||||
| 40 |
RenaissanceRe Holdings Ltd |
3,472 | ||||||
| 8 |
RLI Corp |
611 | ||||||
| 18 |
Selective Insurance Group, Inc |
414 | ||||||
| 36 |
Stancorp Financial Group, Inc |
1,779 | ||||||
| 124 |
Stewart Information Services Corp |
3,247 | ||||||
| 4,210 |
Travelers Cos, Inc |
336,463 | ||||||
|
|
|
|||||||
| TOTAL INSURANCE |
3,185,082 | |||||||
|
|
|
|||||||
| MATERIALS - 4.6% |
||||||||
| 19 |
* | AEP Industries, Inc |
1,413 | |||||
| 2,894 |
Air Products & Chemicals, Inc |
265,004 | ||||||
| 7,098 |
Alcoa, Inc |
55,506 | ||||||
29
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,222 |
* | Allied Nevada Gold Corp |
$ | 7,919 | ||||
| 1,205 |
AMCOL International Corp |
38,186 | ||||||
| 204 |
Aptargroup, Inc |
11,263 | ||||||
| 497 |
Ball Corp |
20,645 | ||||||
| 528 |
Bemis Co, Inc |
20,666 | ||||||
| 519 |
Buckeye Technologies, Inc |
19,224 | ||||||
| 64 |
Carpenter Technology Corp |
2,884 | ||||||
| 350 |
Celanese Corp (Series A) |
15,680 | ||||||
| 18 |
* | Clearwater Paper Corp |
847 | |||||
| 1,284 |
Commercial Metals Co |
18,965 | ||||||
| 110 |
Compass Minerals International, Inc |
9,298 | ||||||
| 46 |
Domtar Corp |
3,059 | ||||||
| 287 |
Eastman Chemical Co |
20,093 | ||||||
| 3,545 |
Ecolab, Inc |
301,999 | ||||||
| 265 |
* | Flotek Industries, Inc |
4,754 | |||||
| 682 |
H.B. Fuller Co |
25,786 | ||||||
| 182 |
Innophos Holdings, Inc |
8,585 | ||||||
| 72 |
International Flavors & Fragrances, Inc |
5,412 | ||||||
| 2,315 |
International Paper Co |
102,578 | ||||||
| 97 |
* | Landec Corp |
1,281 | |||||
| 1,627 |
* | Louisiana-Pacific Corp |
24,063 | |||||
| 4,689 |
LyondellBasell Industries AF S.C.A |
310,693 | ||||||
| 168 |
* | McEwen Mining, Inc |
282 | |||||
| 1,992 |
MeadWestvaco Corp |
67,947 | ||||||
| 392 |
Minerals Technologies, Inc |
16,205 | ||||||
| 1,492 |
Mosaic Co |
80,284 | ||||||
| 5,053 |
Nucor Corp |
218,896 | ||||||
| 634 |
* | Owens-Illinois, Inc |
17,619 | |||||
| 3,057 |
Praxair, Inc |
352,044 | ||||||
| 22,059 |
Rentech, Inc |
46,324 | ||||||
| 54 |
Rock-Tenn Co (Class A) |
5,394 | ||||||
| 124 |
Rockwood Holdings, Inc |
7,940 | ||||||
| 1,363 |
Royal Gold, Inc |
57,355 | ||||||
| 157 |
Sealed Air Corp |
3,760 | ||||||
| 241 |
Sherwin-Williams Co |
42,561 | ||||||
| 2,042 |
Sigma-Aldrich Corp |
164,095 | ||||||
| 147 |
Sonoco Products Co |
5,082 | ||||||
| 586 |
* | Stillwater Mining Co |
6,294 | |||||
| 500 |
Tredegar Corp |
12,850 | ||||||
| 473 |
Valspar Corp |
30,589 | ||||||
| 79 |
Wausau Paper Corp |
901 | ||||||
| 116 |
Westlake Chemical Corp |
11,184 | ||||||
| 2,768 |
Worthington Industries, Inc |
87,773 | ||||||
|
|
|
|||||||
| TOTAL MATERIALS |
2,531,182 | |||||||
|
|
|
|||||||
| MEDIA - 3.1% |
||||||||
| 56 |
Arbitron, Inc |
2,601 | ||||||
| 1,779 |
Cablevision Systems Corp (Class A) |
29,923 | ||||||
| 156 |
Cinemark Holdings, Inc |
4,356 | ||||||
| 1,281 |
* | Digital Generation, Inc |
9,441 | |||||
| 3,920 |
* | Discovery Communications, Inc (Class A) |
302,663 | |||||
| 525 |
* | Discovery Communications, Inc (Class C) |
36,572 | |||||
| 496 |
* | DreamWorks Animation SKG, Inc (Class A) |
12,727 | |||||
| 179 |
Fisher Communications, Inc |
7,353 | ||||||
| 83 |
John Wiley & Sons, Inc (Class A) |
3,327 | ||||||
| 2,109 |
* | Journal Communications, Inc (Class A) |
15,796 | |||||
| 697 |
* | Liberty Global plc |
47,319 | |||||
| 3,773 |
* | Liberty Global plc (Class A) |
279,504 | |||||
| 659 |
* | Liberty Media Corp |
83,535 | |||||
| 98 |
* | Madison Square Garden, Inc |
5,807 | |||||
| 2,863 |
* | McClatchy Co (Class A) |
6,528 | |||||
| 2,180 |
* | New York Times Co (Class A) |
24,111 | |||||
| 149 |
Scripps Networks Interactive (Class A) |
9,947 | ||||||
| 3,457 |
Time Warner Cable, Inc |
388,843 | ||||||
| 7,186 |
Time Warner, Inc |
415,495 | ||||||
| 432 |
Valassis Communications, Inc |
10,623 | ||||||
|
|
|
|||||||
| TOTAL MEDIA |
1,696,471 | |||||||
|
|
|
|||||||
30
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.4% |
||||||||
| 100 |
* | Affymetrix, Inc |
$ | 444 | ||||
| 3,680 |
Agilent Technologies, Inc |
157,357 | ||||||
| 1,059 |
* | Akorn, Inc |
14,318 | |||||
| 3,192 |
Amgen, Inc |
314,923 | ||||||
| 6,212 |
* | Ariad Pharmaceuticals, Inc |
108,648 | |||||
| 101 |
* | Auxilium Pharmaceuticals, Inc |
1,680 | |||||
| 1,901 |
* | Biogen Idec, Inc |
409,095 | |||||
| 10,481 |
Bristol-Myers Squibb Co |
468,396 | ||||||
| 259 |
* | Cambrex Corp |
3,618 | |||||
| 555 |
* | Cepheid, Inc |
19,103 | |||||
| 1,275 |
* | Endo Pharmaceuticals Holdings, Inc |
46,907 | |||||
| 9,409 |
* | Gilead Sciences, Inc |
481,835 | |||||
| 1,131 |
* | Incyte Corp |
24,882 | |||||
| 11,316 |
Johnson & Johnson |
971,592 | ||||||
| 1,420 |
* | Life Technologies Corp |
105,094 | |||||
| 14,626 |
Merck & Co, Inc |
679,377 | ||||||
| 2,213 |
* | Nektar Therapeutics |
25,560 | |||||
| 1,489 |
PDL BioPharma, Inc |
11,495 | ||||||
| 122 |
PerkinElmer, Inc |
3,965 | ||||||
| 805 |
* | Salix Pharmaceuticals Ltd |
53,251 | |||||
| 839 |
* | Sangamo Biosciences, Inc |
6,552 | |||||
| 70 |
Techne Corp |
4,836 | ||||||
| 165 |
* | United Therapeutics Corp |
10,860 | |||||
| 1,015 |
* | Vertex Pharmaceuticals, Inc |
81,068 | |||||
| 94 |
* | Viropharma, Inc |
2,693 | |||||
| 2,319 |
* | Vivus, Inc |
29,173 | |||||
| 595 |
* | Waters Corp |
59,530 | |||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
4,096,252 | |||||||
|
|
|
|||||||
| REAL ESTATE - 3.7% |
||||||||
| 83 |
American Campus Communities, Inc |
3,375 | ||||||
| 4,346 |
American Tower Corp |
317,997 | ||||||
| 10,364 |
Annaly Capital Management, Inc |
130,275 | ||||||
| 1,114 |
Boston Properties, Inc |
117,494 | ||||||
| 1,824 |
* | CBRE Group, Inc |
42,609 | |||||
| 93 |
Colonial Properties Trust |
2,243 | ||||||
| 165 |
Douglas Emmett, Inc |
4,117 | ||||||
| 1,443 |
Duke Realty Corp |
22,496 | ||||||
| 29 |
Equity One, Inc |
656 | ||||||
| 361 |
Equity Residential |
20,960 | ||||||
| 178 |
Federal Realty Investment Trust |
18,455 | ||||||
| 2,363 |
First Industrial Realty Trust, Inc |
35,847 | ||||||
| 4,832 |
HCP, Inc |
219,566 | ||||||
| 860 |
Health Care REIT, Inc |
57,646 | ||||||
| 89 |
Healthcare Realty Trust, Inc |
2,269 | ||||||
| 6,311 |
Host Marriott Corp |
106,467 | ||||||
| 15 |
Jones Lang LaSalle, Inc |
1,367 | ||||||
| 14 |
Kilroy Realty Corp |
742 | ||||||
| 125 |
LaSalle Hotel Properties |
3,088 | ||||||
| 325 |
Liberty Property Trust |
12,012 | ||||||
| 426 |
Macerich Co |
25,973 | ||||||
| 180 |
Mid-America Apartment Communities, Inc |
12,199 | ||||||
| 282 |
Piedmont Office Realty Trust, Inc |
5,042 | ||||||
| 105 |
Post Properties, Inc |
5,196 | ||||||
| 7,434 |
Prologis, Inc |
280,410 | ||||||
| 2,100 |
RAIT Investment Trust |
15,792 | ||||||
| 731 |
Ryman Hospitality Properties |
28,516 | ||||||
| 2,184 |
Simon Property Group, Inc |
344,897 | ||||||
| 1,347 |
Ventas, Inc |
93,563 | ||||||
| 1,321 |
Vornado Realty Trust |
109,445 | ||||||
| 17 |
Washington Real Estate Investment Trust |
457 | ||||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
2,041,171 | |||||||
|
|
|
|||||||
31
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| RETAILING - 4.8% |
||||||||
| 77 |
Aaron’s, Inc |
$ | 2,157 | |||||
| 162 |
Advance Auto Parts, Inc |
13,150 | ||||||
| 1,224 |
American Eagle Outfitters, Inc |
22,350 | ||||||
| 316 |
* | Ann Taylor Stores Corp |
10,491 | |||||
| 467 |
* | Autozone, Inc |
197,863 | |||||
| 149 |
* | Barnes & Noble, Inc |
2,378 | |||||
| 2,101 |
* | Bed Bath & Beyond, Inc |
148,961 | |||||
| 1,674 |
Best Buy Co, Inc |
45,750 | ||||||
| 62 |
* | Cabela’s, Inc |
4,015 | |||||
| 757 |
* | Carmax, Inc |
34,943 | |||||
| 8 |
Chico’s FAS, Inc |
136 | ||||||
| 650 |
Foot Locker, Inc |
22,835 | ||||||
| 6 |
GameStop Corp (Class A) |
252 | ||||||
| 4,974 |
Gap, Inc |
207,565 | ||||||
| 45 |
* | Genesco, Inc |
3,015 | |||||
| 2,394 |
Genuine Parts Co |
186,900 | ||||||
| 184 |
GNC Holdings, Inc |
8,135 | ||||||
| 312 |
HSN, Inc |
16,761 | ||||||
| 411 |
* | JC Penney Co, Inc |
7,020 | |||||
| 2,289 |
Kohl’s Corp |
115,617 | ||||||
| 7,105 |
* | Liberty Media Holding Corp (Interactive A) |
163,486 | |||||
| 38 |
* | LKQ Corp |
979 | |||||
| 9,519 |
Lowe’s Companies, Inc |
389,327 | ||||||
| 1,969 |
Macy’s, Inc |
94,512 | ||||||
| 16 |
Men’s Wearhouse, Inc |
606 | ||||||
| 625 |
Nordstrom, Inc |
37,463 | ||||||
| 700 |
* | Office Depot, Inc |
2,709 | |||||
| 73 |
* | O'Reilly Automotive, Inc |
8,221 | |||||
| 376 |
Petsmart, Inc |
25,188 | ||||||
| 278 |
Pier 1 Imports, Inc |
6,530 | ||||||
| 160 |
Ross Stores, Inc |
10,370 | ||||||
| 184 |
* | Sally Beauty Holdings, Inc |
5,722 | |||||
| 71 |
* | Shutterfly, Inc |
3,961 | |||||
| 144 |
Signet Jewelers Ltd |
9,710 | ||||||
| 5,577 |
Staples, Inc |
88,451 | ||||||
| 5,557 |
Target Corp |
382,655 | ||||||
| 135 |
Tiffany & Co |
9,833 | ||||||
| 7,126 |
TJX Companies, Inc |
356,727 | ||||||
| 7 |
Williams-Sonoma, Inc |
391 | ||||||
|
|
|
|||||||
| TOTAL RETAILING |
2,647,135 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.5% |
||||||||
| 645 |
* | Advanced Energy Industries, Inc |
11,229 | |||||
| 652 |
* | Advanced Micro Devices, Inc |
2,660 | |||||
| 814 |
Analog Devices, Inc |
36,679 | ||||||
| 18,228 |
Applied Materials, Inc |
271,780 | ||||||
| 125 |
* | Cirrus Logic, Inc |
2,170 | |||||
| 174 |
Cypress Semiconductor Corp |
1,867 | ||||||
| 25,696 |
Intel Corp |
622,357 | ||||||
| 170 |
* | Lam Research Corp |
7,538 | |||||
| 111 |
Microchip Technology, Inc |
4,135 | ||||||
| 134 |
MKS Instruments, Inc |
3,556 | ||||||
| 4,943 |
* | ON Semiconductor Corp |
39,939 | |||||
| 706 |
* | RF Micro Devices, Inc |
3,777 | |||||
| 910 |
* | Skyworks Solutions, Inc |
19,920 | |||||
| 937 |
* | SunPower Corp |
19,396 | |||||
| 315 |
* | Teradyne, Inc |
5,535 | |||||
| 9,888 |
Texas Instruments, Inc |
344,794 | ||||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
1,397,332 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 8.8% |
||||||||
| 5,032 |
Accenture plc |
362,103 | ||||||
| 2,318 |
* | Active Network, Inc |
17,547 | |||||
| 5,073 |
* | Adobe Systems, Inc |
231,126 | |||||
32
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 313 |
* | Angie’s List, Inc |
$ | 8,310 | ||||
| 2,001 |
AOL, Inc |
72,997 | ||||||
| 1,937 |
* | Autodesk, Inc |
65,742 | |||||
| 1,228 |
Broadridge Financial Solutions, Inc |
32,640 | ||||||
| 4,683 |
CA, Inc |
134,074 | ||||||
| 191 |
* | Cadence Design Systems, Inc |
2,766 | |||||
| 4,753 |
* | Cognizant Technology Solutions Corp (Class A) |
297,585 | |||||
| 847 |
Compuware Corp |
8,766 | ||||||
| 155 |
Convergys Corp |
2,702 | ||||||
| 49 |
Factset Research Systems, Inc |
4,995 | ||||||
| 54 |
Fair Isaac Corp |
2,475 | ||||||
| 239 |
* | Fortinet, Inc |
4,183 | |||||
| 104 |
Global Payments, Inc |
4,817 | ||||||
| 1,080 |
* | Google, Inc (Class A) |
950,800 | |||||
| 883 |
* | Informatica Corp |
30,887 | |||||
| 4,629 |
International Business Machines Corp |
884,648 | ||||||
| 3,793 |
Intuit, Inc |
231,487 | ||||||
| 278 |
* | Liquidity Services, Inc |
9,638 | |||||
| 55 |
* | NetSuite, Inc |
5,046 | |||||
| 189 |
* | NeuStar, Inc (Class A) |
9,201 | |||||
| 49 |
* | OpenTable, Inc |
3,134 | |||||
| 19,248 |
Oracle Corp |
591,298 | ||||||
| 2,442 |
* | QuinStreet, Inc |
21,074 | |||||
| 6,408 |
* | Salesforce.com, Inc |
244,657 | |||||
| 233 |
* | ServiceSource International LLC |
2,172 | |||||
| 123 |
* | SolarWinds, Inc |
4,774 | |||||
| 9,001 |
Symantec Corp |
202,252 | ||||||
| 59 |
Syntel, Inc |
3,709 | ||||||
| 340 |
* | Teradata Corp |
17,078 | |||||
| 146 |
* | Ultimate Software Group, Inc |
17,124 | |||||
| 150 |
* | Unisys Corp |
3,311 | |||||
| 13,275 |
* | Yahoo!, Inc |
333,335 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
4,818,453 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 5.1% |
||||||||
| 914 |
* | Aruba Networks, Inc |
14,039 | |||||
| 97 |
* | Avid Technology, Inc |
570 | |||||
| 147 |
* | Benchmark Electronics, Inc |
2,955 | |||||
| 26,789 |
Cisco Systems, Inc |
651,241 | ||||||
| 21 |
Cognex Corp |
950 | ||||||
| 1,633 |
Corning, Inc |
23,238 | ||||||
| 1,868 |
* | Cray, Inc |
36,687 | |||||
| 23,171 |
Dell, Inc |
309,333 | ||||||
| 9 |
* | DTS, Inc |
185 | |||||
| 16,621 |
* | EMC Corp |
392,588 | |||||
| 810 |
* | Finisar Corp |
13,729 | |||||
| 707 |
* | Flextronics International Ltd |
5,472 | |||||
| 293 |
* | Fusion-io, Inc |
4,172 | |||||
| 16,507 |
Hewlett-Packard Co |
409,374 | ||||||
| 345 |
* | Ingram Micro, Inc (Class A) |
6,551 | |||||
| 169 |
InterDigital, Inc |
7,546 | ||||||
| 236 |
IPG Photonics Corp |
14,332 | ||||||
| 14 |
* | Itron, Inc |
594 | |||||
| 462 |
Jabil Circuit, Inc |
9,416 | ||||||
| 449 |
Lexmark International, Inc (Class A) |
13,726 | ||||||
| 24 |
Molex, Inc |
704 | ||||||
| 1,841 |
Motorola, Inc |
106,281 | ||||||
| 60 |
* | Netgear, Inc |
1,832 | |||||
| 645 |
* | Oplink Communications, Inc |
11,204 | |||||
| 340 |
Plantronics, Inc |
14,933 | ||||||
| 885 |
* | Polycom, Inc |
9,328 | |||||
| 1,566 |
* | Power-One, Inc |
9,897 | |||||
| 494 |
* | QLogic Corp |
4,723 | |||||
| 8,024 |
Qualcomm, Inc |
490,106 | ||||||
| 227 |
* | RealD, Inc |
3,155 | |||||
33
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 172 |
* | Super Micro Computer, Inc |
$ | 1,830 | ||||
| 26 |
* | Tech Data Corp |
1,224 | |||||
| 184 |
* | TTM Technologies, Inc |
1,546 | |||||
| 87 |
* | Universal Display Corp |
2,446 | |||||
| 74 |
* | Vishay Precision Group, Inc |
1,120 | |||||
| 25,594 |
Xerox Corp |
232,138 | ||||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
2,809,165 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 1.8% |
||||||||
| 8,927 |
CenturyTel, Inc |
315,570 | ||||||
| 1,541 |
* | Cincinnati Bell, Inc |
4,716 | |||||
| 3,151 |
* | Crown Castle International Corp |
228,101 | |||||
| 14,923 |
Frontier Communications Corp |
60,438 | ||||||
| 234 |
* | Level 3 Communications, Inc |
4,933 | |||||
| 252 |
* | SBA Communications Corp (Class A) |
18,678 | |||||
| 35,743 |
* | Sprint Nextel Corp |
250,916 | |||||
| 674 |
* | tw telecom inc (Class A) |
18,966 | |||||
| 18 |
US Cellular Corp |
660 | ||||||
| 5,000 |
* | Vonage Holdings Corp |
14,150 | |||||
| 7,071 |
Windstream Corp |
54,517 | ||||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
971,645 | |||||||
|
|
|
|||||||
| TRANSPORTATION - 2.0% |
||||||||
| 89 |
* | Alaska Air Group, Inc |
4,628 | |||||
| 52 |
Allegiant Travel Co |
5,511 | ||||||
| 195 |
* | Avis Budget Group, Inc |
5,606 | |||||
| 326 |
CH Robinson Worldwide, Inc |
18,357 | ||||||
| 10,064 |
CSX Corp |
233,384 | ||||||
| 128 |
Expeditors International of Washington, Inc |
4,865 | ||||||
| 34 |
* | Genesee & Wyoming, Inc (Class A) |
2,885 | |||||
| 61 |
J.B. Hunt Transport Services, Inc |
4,407 | ||||||
| 8 |
* | Kirby Corp |
636 | |||||
| 2,410 |
Norfolk Southern Corp |
175,087 | ||||||
| 6 |
Ryder System, Inc |
365 | ||||||
| 1,437 |
Union Pacific Corp |
221,700 | ||||||
| 5,068 |
United Parcel Service, Inc (Class B) |
438,281 | ||||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
1,115,712 | |||||||
|
|
|
|||||||
| UTILITIES - 4.2% |
||||||||
| 92 |
American States Water Co |
4,938 | ||||||
| 102 |
American Water Works Co, Inc |
4,205 | ||||||
| 2,528 |
* | Calpine Corp |
53,669 | |||||
| 2,497 |
Centerpoint Energy, Inc |
58,655 | ||||||
| 3,631 |
Cleco Corp |
168,587 | ||||||
| 4,117 |
Consolidated Edison, Inc |
240,062 | ||||||
| 1,810 |
Duke Energy Corp |
122,175 | ||||||
| 57 |
Integrys Energy Group, Inc |
3,336 | ||||||
| 148 |
ITC Holdings Corp |
13,512 | ||||||
| 103 |
MDU Resources Group, Inc |
2,669 | ||||||
| 591 |
MGE Energy, Inc |
32,363 | ||||||
| 197 |
New Jersey Resources Corp |
8,181 | ||||||
| 4,346 |
NextEra Energy, Inc |
354,112 | ||||||
| 5,811 |
NiSource, Inc |
166,427 | ||||||
| 3,112 |
Northeast Utilities |
130,766 | ||||||
| 162 |
Northwest Natural Gas Co |
6,882 | ||||||
| 4,001 |
NV Energy, Inc |
93,864 | ||||||
| 1,573 |
Oneok, Inc |
64,981 | ||||||
| 7,735 |
Pepco Holdings, Inc |
155,938 | ||||||
| 4,779 |
PG&E Corp |
218,544 | ||||||
| 2,031 |
Piedmont Natural Gas Co, Inc |
68,526 | ||||||
| 88 |
Pinnacle West Capital Corp |
4,881 | ||||||
| 2,418 |
Sempra Energy |
197,696 | ||||||
| 211 |
SJW Corp |
5,528 | ||||||
| 612 |
South Jersey Industries, Inc |
35,135 | ||||||
34
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 196 |
TECO Energy, Inc |
$ | 3,369 | |||||
| 77 |
UGI Corp |
3,012 | ||||||
| 108 |
Westar Energy, Inc |
3,452 | ||||||
| 524 |
WGL Holdings, Inc |
22,647 | ||||||
| 414 |
Wisconsin Energy Corp |
16,970 | ||||||
| 1,364 |
Xcel Energy, Inc |
38,656 | ||||||
|
|
|
|||||||
| TOTAL UTILITIES |
2,303,738 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $43,078,018) |
54,695,982 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 99.3% (Cost $43,078,018) |
54,695,982 | |||||||
| OTHER ASSETS & LIABILITIES, NET - 0.7% |
409,541 | |||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 55,105,523 | ||||||
|
|
|
|||||||
Abbreviation(s):
| REIT | Real Estate Investment Trust |
| * | Non-income producing. |
| m | Indicates a security that has been deemed illiquid. |
35
TIAA-CREF LIFE FUNDS - Stock Index Fund
TIAA-CREF LIFE FUNDS
STOCK INDEX FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2013
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 99.2% |
| |||||||
| AUTOMOBILES & COMPONENTS - 1.1% |
| |||||||
| 406 |
Allison Transmission Holdings, Inc |
$ | 9,370 | |||||
| 839 |
* | American Axle & Manufacturing Holdings, Inc |
15,631 | |||||
| 1,484 |
* | BorgWarner, Inc |
127,847 | |||||
| 901 |
Cooper Tire & Rubber Co |
29,886 | ||||||
| 2,007 |
Dana Holding Corp |
38,655 | ||||||
| 4,101 |
Delphi Automotive plc |
207,880 | ||||||
| 376 |
Dorman Products, Inc |
17,157 | ||||||
| 290 |
Drew Industries, Inc |
11,403 | ||||||
| 261 |
* | Federal Mogul Corp (Class A) |
2,665 | |||||
| 50,556 |
Ford Motor Co |
782,101 | ||||||
| 280 |
* | Fuel Systems Solutions, Inc |
5,009 | |||||
| 10,813 |
* | General Motors Co |
360,181 | |||||
| 1,875 |
Gentex Corp |
43,219 | ||||||
| 507 |
* | Gentherm, Inc |
9,415 | |||||
| 3,154 |
* | Goodyear Tire & Rubber Co |
48,225 | |||||
| 2,938 |
Harley-Davidson, Inc |
161,061 | ||||||
| 8,952 |
Johnson Controls, Inc |
320,392 | ||||||
| 1,212 |
Lear Corp |
73,277 | ||||||
| 500 |
* | Modine Manufacturing Co |
5,440 | |||||
| 180 |
Remy International, Inc |
3,343 | ||||||
| 355 |
Spartan Motors, Inc |
2,173 | ||||||
| 260 |
Standard Motor Products, Inc |
8,928 | ||||||
| 627 |
* | Stoneridge, Inc |
7,298 | |||||
| 280 |
Superior Industries International, Inc |
4,819 | ||||||
| 796 |
* | Tenneco, Inc |
36,043 | |||||
| 1,097 |
*,e | Tesla Motors, Inc |
117,851 | |||||
| 552 |
Thor Industries, Inc |
27,147 | ||||||
| 1,366 |
* | TRW Automotive Holdings Corp |
90,757 | |||||
| 654 |
* | Visteon Corp |
41,280 | |||||
| 353 |
* | Winnebago Industries, Inc |
7,409 | |||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
2,615,862 | |||||||
|
|
|
|||||||
| BANKS - 3.5% |
||||||||
| 180 |
1st Source Corp |
4,277 | ||||||
| 266 |
1st United Bancorp, Inc |
1,788 | ||||||
| 90 |
Access National Corp |
1,168 | ||||||
| 98 |
American National Bankshares, Inc |
2,278 | ||||||
| 283 |
* | Ameris Bancorp |
4,769 | |||||
| 77 |
Ames National Corp |
1,753 | ||||||
| 430 |
Apollo Residential Mortgage |
7,086 | ||||||
| 110 |
e | Arrow Financial Corp |
2,723 | |||||
| 2,146 |
Associated Banc-Corp |
33,370 | ||||||
| 1,174 |
Astoria Financial Corp |
12,656 | ||||||
| 130 |
Bancfirst Corp |
6,051 | ||||||
| 298 |
Banco Latinoamericano de Exportaciones S.A. (Class E) |
6,672 | ||||||
| 1,197 |
Bancorpsouth, Inc |
21,187 | ||||||
| 838 |
Bank Mutual Corp |
4,726 | ||||||
| 762 |
Bank of Hawaii Corp |
38,344 | ||||||
| 70 |
Bank of Kentucky Financial Corp |
1,991 | ||||||
| 61 |
Bank of Marin Bancorp |
2,440 | ||||||
| 442 |
Bank of the Ozarks, Inc |
19,152 | ||||||
| 300 |
BankFinancial Corp |
2,550 | ||||||
| 845 |
BankUnited |
21,978 | ||||||
| 203 |
Banner Corp |
6,859 | ||||||
| 50 |
Bar Harbor Bankshares |
1,827 | ||||||
| 9,205 |
BB&T Corp |
311,865 | ||||||
36
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 982 |
BBCN Bancorp, Inc |
$ | 13,964 | |||||
| 392 |
* | Beneficial Mutual Bancorp, Inc |
3,293 | |||||
| 280 |
Berkshire Hills Bancorp, Inc |
7,773 | ||||||
| 233 |
BNC Bancorp |
2,661 | ||||||
| 160 |
* | BofI Holding, Inc |
7,331 | |||||
| 410 |
BOK Financial Corp |
26,260 | ||||||
| 826 |
Boston Private Financial Holdings, Inc |
8,789 | ||||||
| 75 |
Bridge Bancorp, Inc |
1,687 | ||||||
| 771 |
Brookline Bancorp, Inc |
6,692 | ||||||
| 86 |
Bryn Mawr Bank Corp |
2,058 | ||||||
| 40 |
C&F Financial Corp |
2,229 | ||||||
| 87 |
Camden National Corp |
3,086 | ||||||
| 321 |
* | Capital Bank Financial Corp |
6,096 | |||||
| 101 |
* | Capital City Bank Group, Inc |
1,165 | |||||
| 2,970 |
CapitalSource, Inc |
27,859 | ||||||
| 2,530 |
Capitol Federal Financial |
30,714 | ||||||
| 286 |
Cardinal Financial Corp |
4,187 | ||||||
| 1,028 |
Cathay General Bancorp |
20,920 | ||||||
| 150 |
Center Bancorp, Inc |
1,903 | ||||||
| 261 |
Centerstate Banks of Florida, Inc |
2,265 | ||||||
| 188 |
* | Central Pacific Financial Corp |
3,384 | |||||
| 168 |
Century Bancorp, Inc |
5,880 | ||||||
| 301 |
Charter Financial Corp |
3,034 | ||||||
| 294 |
Chemical Financial Corp |
7,641 | ||||||
| 2,624 |
* | CIT Group, Inc |
122,357 | |||||
| 101 |
Citizens & Northern Corp |
1,951 | ||||||
| 262 |
e | City Holding Co |
10,205 | |||||
| 647 |
City National Corp |
41,000 | ||||||
| 112 |
Clifton Savings Bancorp, Inc |
1,327 | ||||||
| 105 |
CNB Financial Corp |
1,779 | ||||||
| 395 |
CoBiz, Inc |
3,278 | ||||||
| 674 |
Columbia Banking System, Inc |
16,048 | ||||||
| 2,545 |
Comerica, Inc |
101,367 | ||||||
| 1,110 |
Commerce Bancshares, Inc |
48,352 | ||||||
| 628 |
Community Bank System, Inc |
19,374 | ||||||
| 182 |
Community Trust Bancorp, Inc |
6,483 | ||||||
| 130 |
* | CommunityOne Bancorp |
1,054 | |||||
| 30 |
*,e | Crescent Financial Bancshares, Inc |
131 | |||||
| 732 |
e | Cullen/Frost Bankers, Inc |
48,876 | |||||
| 262 |
* | Customers Bancorp, Inc |
4,257 | |||||
| 1,117 |
CVB Financial Corp |
13,136 | ||||||
| 309 |
Dime Community Bancshares |
4,734 | ||||||
| 5,371 |
* | Doral Financial Corp |
4,458 | |||||
| 289 |
* | Eagle Bancorp, Inc |
6,463 | |||||
| 1,835 |
East West Bancorp, Inc |
50,462 | ||||||
| 90 |
Enterprise Financial Services Corp |
1,436 | ||||||
| 158 |
ESB Financial Corp |
1,917 | ||||||
| 197 |
ESSA Bancorp, Inc |
2,159 | ||||||
| 1,060 |
EverBank Financial Corp |
17,554 | ||||||
| 115 |
Federal Agricultural Mortgage Corp (Class C) |
3,321 | ||||||
| 124 |
Fidelity Southern Corp |
1,534 | ||||||
| 11,484 |
Fifth Third Bancorp |
207,286 | ||||||
| 126 |
Financial Institutions, Inc |
2,320 | ||||||
| 174 |
First Bancorp (NC) |
2,453 | ||||||
| 906 |
* | First Bancorp (Puerto Rico) |
6,414 | |||||
| 107 |
First Bancorp, Inc |
1,870 | ||||||
| 625 |
First Busey Corp |
2,812 | ||||||
| 99 |
First Citizens Bancshares, Inc (Class A) |
19,013 | ||||||
| 1,229 |
First Commonwealth Financial Corp |
9,058 | ||||||
| 189 |
First Community Bancshares, Inc |
2,964 | ||||||
| 570 |
First Connecticut Bancorp |
7,934 | ||||||
| 120 |
First Defiance Financial Corp |
2,706 | ||||||
| 40 |
* | First Federal Bancshares of Arkansas, Inc |
316 | |||||
| 747 |
First Financial Bancorp |
11,130 | ||||||
| 448 |
e | First Financial Bankshares, Inc |
24,936 | |||||
| 188 |
First Financial Corp |
5,826 | ||||||
37
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 133 |
First Financial Holdings, Inc |
$ | 2,821 | |||||
| 200 |
First Financial Northwest, Inc |
2,062 | ||||||
| 3,240 |
First Horizon National Corp |
36,288 | ||||||
| 149 |
First Interstate Bancsystem, Inc |
3,089 | ||||||
| 557 |
First Merchants Corp |
9,553 | ||||||
| 893 |
First Midwest Bancorp, Inc |
12,252 | ||||||
| 4,523 |
First Niagara Financial Group, Inc |
45,547 | ||||||
| 66 |
First of Long Island Corp |
2,191 | ||||||
| 110 |
First Pactrust Bancorp, Inc |
1,494 | ||||||
| 1,528 |
First Republic Bank |
58,797 | ||||||
| 2,172 |
FirstMerit Corp |
43,505 | ||||||
| 255 |
* | Flagstar Bancorp, Inc |
3,560 | |||||
| 358 |
Flushing Financial Corp |
5,889 | ||||||
| 1,776 |
FNB Corp |
21,454 | ||||||
| 185 |
Fox Chase Bancorp, Inc |
3,145 | ||||||
| 170 |
Franklin Financial Corp |
3,062 | ||||||
| 2,887 |
Fulton Financial Corp |
33,143 | ||||||
| 133 |
German American Bancorp, Inc |
2,995 | ||||||
| 860 |
Glacier Bancorp, Inc |
19,083 | ||||||
| 135 |
Great Southern Bancorp, Inc |
3,640 | ||||||
| 185 |
Guaranty Bancorp |
2,100 | ||||||
| 222 |
*,e | Hampton Roads Bankshares, Inc |
286 | |||||
| 1,116 |
Hancock Holding Co |
33,558 | ||||||
| 610 |
* | Hanmi Financial Corp |
10,779 | |||||
| 158 |
Heartland Financial USA, Inc |
4,343 | ||||||
| 121 |
Heritage Financial Corp |
1,773 | ||||||
| 260 |
* | Heritage Oaks Bancorp |
1,604 | |||||
| 20 |
Hingham Institution for Savings |
1,358 | ||||||
| 90 |
* | Home Bancorp, Inc |
1,665 | |||||
| 532 |
Home Bancshares, Inc |
13,816 | ||||||
| 199 |
Home Federal Bancorp, Inc |
2,535 | ||||||
| 745 |
Home Loan Servicing Solutions Ltd |
17,858 | ||||||
| 108 |
HomeStreet, Inc |
2,317 | ||||||
| 265 |
* | HomeTrust Bancshares, Inc |
4,494 | |||||
| 75 |
Horizon Bancorp |
1,531 | ||||||
| 6,700 |
Hudson City Bancorp, Inc |
61,372 | ||||||
| 171 |
Hudson Valley Holding Corp |
2,904 | ||||||
| 10,738 |
Huntington Bancshares, Inc |
84,615 | ||||||
| 463 |
IBERIABANK Corp |
24,821 | ||||||
| 252 |
Independent Bank Corp |
8,694 | ||||||
| 674 |
International Bancshares Corp |
15,219 | ||||||
| 579 |
Investors Bancorp, Inc |
12,205 | ||||||
| 227 |
* | Kearny Financial Corp |
2,381 | |||||
| 12,326 |
Keycorp |
136,079 | ||||||
| 274 |
Lakeland Bancorp, Inc |
2,858 | ||||||
| 350 |
Lakeland Financial Corp |
9,712 | ||||||
| 1,741 |
e | M&T Bank Corp |
194,557 | |||||
| 216 |
MainSource Financial Group, Inc |
2,901 | ||||||
| 661 |
MB Financial, Inc |
17,715 | ||||||
| 107 |
Mercantile Bank Corp |
1,923 | ||||||
| 60 |
Merchants Bancshares, Inc |
1,774 | ||||||
| 119 |
* | Meridian Interstate Bancorp, Inc |
2,241 | |||||
| 198 |
MetroCorp Bancshares, Inc |
1,932 | ||||||
| 4,168 |
* | MGIC Investment Corp |
25,300 | |||||
| 70 |
Middleburg Financial Corp |
1,337 | ||||||
| 56 |
Midsouth Bancorp, Inc |
870 | ||||||
| 90 |
MidWestOne Financial Group, Inc |
2,165 | ||||||
| 50 |
* | NASB Financial, Inc |
1,309 | |||||
| 684 |
National Bank Holdings Corp |
13,475 | ||||||
| 84 |
National Bankshares, Inc |
2,985 | ||||||
| 1,529 |
National Penn Bancshares, Inc |
15,535 | ||||||
| 243 |
*,e | Nationstar Mortgage Holdings, Inc |
9,098 | |||||
| 738 |
NBT Bancorp, Inc |
15,623 | ||||||
| 5,893 |
e | New York Community Bancorp, Inc |
82,502 | |||||
| 758 |
Northfield Bancorp, Inc |
8,884 | ||||||
| 80 |
Northrim BanCorp, Inc |
1,935 | ||||||
38
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,214 |
Northwest Bancshares, Inc |
$ | 16,401 | |||||
| 97 |
OceanFirst Financial Corp |
1,508 | ||||||
| 1,334 |
* | Ocwen Financial Corp |
54,987 | |||||
| 596 |
OFG Bancorp |
10,794 | ||||||
| 1,471 |
Old National Bancorp |
20,344 | ||||||
| 148 |
* | OmniAmerican Bancorp, Inc |
3,260 | |||||
| 670 |
Oritani Financial Corp |
10,506 | ||||||
| 154 |
Pacific Continental Corp |
1,817 | ||||||
| 208 |
* | Pacific Premier Bancorp, Inc |
2,542 | |||||
| 449 |
PacWest Bancorp |
13,762 | ||||||
| 165 |
e | Park National Corp |
11,350 | |||||
| 360 |
* | Park Sterling Bank |
2,128 | |||||
| 110 |
Peapack Gladstone Financial Corp |
1,925 | ||||||
| 47 |
Penns Woods Bancorp, Inc |
1,967 | ||||||
| 164 |
* | Pennsylvania Commerce Bancorp, Inc |
3,285 | |||||
| 165 |
* | PennyMac Financial Services, Inc |
3,510 | |||||
| 75 |
Peoples Bancorp, Inc |
1,581 | ||||||
| 4,548 |
People’s United Financial, Inc |
67,765 | ||||||
| 400 |
* | Pinnacle Financial Partners, Inc |
10,284 | |||||
| 6,943 |
PNC Financial Services Group, Inc |
506,284 | ||||||
| 1,355 |
* | Popular, Inc |
41,097 | |||||
| 147 |
* | Preferred Bank |
2,423 | |||||
| 767 |
PrivateBancorp, Inc |
16,268 | ||||||
| 789 |
Prosperity Bancshares, Inc |
40,862 | ||||||
| 120 |
Provident Financial Holdings, Inc |
1,906 | ||||||
| 753 |
Provident Financial Services, Inc |
11,882 | ||||||
| 421 |
e | Provident New York Bancorp |
3,932 | |||||
| 2,407 |
e | Radian Group, Inc |
27,969 | |||||
| 18,532 |
Regions Financial Corp |
176,610 | ||||||
| 323 |
e | Renasant Corp |
7,862 | |||||
| 120 |
Republic Bancorp, Inc (Class A) |
2,630 | ||||||
| 807 |
Rockville Financial, Inc |
10,556 | ||||||
| 100 |
Roma Financial Corp |
1,816 | ||||||
| 300 |
S&T Bancorp, Inc |
5,880 | ||||||
| 210 |
S.Y. Bancorp, Inc |
5,151 | ||||||
| 250 |
Sandy Spring Bancorp, Inc |
5,405 | ||||||
| 281 |
e | SCBT Financial Corp |
14,160 | |||||
| 900 |
* | Seacoast Banking Corp of Florida |
1,980 | |||||
| 87 |
Sierra Bancorp |
1,288 | ||||||
| 615 |
* | Signature Bank |
51,057 | |||||
| 207 |
Simmons First National Corp (Class A) |
5,401 | ||||||
| 216 |
e | Southside Bancshares, Inc |
5,158 | |||||
| 383 |
* | Southwest Bancorp, Inc |
5,056 | |||||
| 397 |
State Bank & Trust Co |
5,967 | ||||||
| 256 |
StellarOne Corp |
5,030 | ||||||
| 318 |
Sterling Bancorp |
3,695 | ||||||
| 450 |
Sterling Financial Corp |
10,701 | ||||||
| 88 |
* | Suffolk Bancorp |
1,438 | |||||
| 470 |
* | Sun Bancorp, Inc |
1,593 | |||||
| 7,046 |
SunTrust Banks, Inc |
222,442 | ||||||
| 2,349 |
Susquehanna Bancshares, Inc |
30,185 | ||||||
| 591 |
* | SVB Financial Group |
49,242 | |||||
| 10,399 |
Synovus Financial Corp |
30,365 | ||||||
| 137 |
* | Taylor Capital Group, Inc |
2,314 | |||||
| 2,148 |
TCF Financial Corp |
30,459 | ||||||
| 150 |
Territorial Bancorp, Inc |
3,391 | ||||||
| 505 |
* | Texas Capital Bancshares, Inc |
22,402 | |||||
| 956 |
* | TFS Financial Corp |
10,707 | |||||
| 434 |
* | The Bancorp, Inc |
6,506 | |||||
| 259 |
Tompkins Trustco, Inc |
11,704 | ||||||
| 238 |
e | TowneBank |
3,503 | |||||
| 80 |
Tree.com, Inc |
1,371 | ||||||
| 171 |
Trico Bancshares |
3,647 | ||||||
| 1,974 |
Trustco Bank Corp NY |
10,739 | ||||||
| 885 |
Trustmark Corp |
21,753 | ||||||
| 403 |
UMB Financial Corp |
22,435 | ||||||
39
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,383 |
Umpqua Holdings Corp |
$ | 20,759 | |||||
| 167 |
Union Bankshares Corp |
3,439 | ||||||
| 757 |
e | United Bankshares, Inc |
20,023 | |||||
| 526 |
* | United Community Banks, Inc |
6,533 | |||||
| 201 |
United Financial Bancorp, Inc |
3,045 | ||||||
| 198 |
Univest Corp of Pennsylvania |
3,776 | ||||||
| 24,290 |
US Bancorp |
878,083 | ||||||
| 2,837 |
e | Valley National Bancorp |
26,866 | |||||
| 426 |
ViewPoint Financial Group |
8,865 | ||||||
| 253 |
* | Virginia Commerce Bancorp |
3,532 | |||||
| 138 |
* | Walker & Dunlop, Inc |
2,415 | |||||
| 113 |
Washington Banking Co |
1,605 | ||||||
| 1,416 |
Washington Federal, Inc |
26,734 | ||||||
| 138 |
Washington Trust Bancorp, Inc |
3,936 | ||||||
| 90 |
* | Waterstone Financial, Inc |
914 | |||||
| 1,184 |
Webster Financial Corp |
30,405 | ||||||
| 63,429 |
Wells Fargo & Co |
2,617,715 | ||||||
| 301 |
WesBanco, Inc |
7,955 | ||||||
| 189 |
West Bancorporation, Inc |
2,221 | ||||||
| 398 |
e | Westamerica Bancorporation |
18,185 | |||||
| 965 |
* | Western Alliance Bancorp |
15,276 | |||||
| 366 |
Westfield Financial, Inc |
2,562 | ||||||
| 2,417 |
Wilshire Bancorp, Inc |
16,001 | ||||||
| 461 |
Wintrust Financial Corp |
17,647 | ||||||
| 100 |
WSFS Financial Corp |
5,239 | ||||||
| 189 |
* | Yadkin Financial Corp |
2,654 | |||||
| 2,336 |
Zions Bancorporation |
67,464 | ||||||
|
|
|
|||||||
| TOTAL BANKS |
8,256,727 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 8.0% |
| |||||||
| 9,036 |
3M Co |
988,086 | ||||||
| 1,080 |
A.O. Smith Corp |
39,182 | ||||||
| 193 |
Aaon, Inc |
6,384 | ||||||
| 468 |
AAR Corp |
10,287 | ||||||
| 1,371 |
* | Accuride Corp |
6,937 | |||||
| 282 |
Aceto Corp |
3,928 | ||||||
| 956 |
Actuant Corp (Class A) |
31,519 | ||||||
| 572 |
Acuity Brands, Inc |
43,197 | ||||||
| 1,391 |
* | Aecom Technology Corp |
44,220 | |||||
| 466 |
* | Aegion Corp |
10,490 | |||||
| 484 |
* | Aerovironment, Inc |
9,767 | |||||
| 1,275 |
AGCO Corp |
63,992 | ||||||
| 858 |
Air Lease Corp |
23,672 | ||||||
| 892 |
Aircastle Ltd |
14,263 | ||||||
| 78 |
Alamo Group, Inc |
3,184 | ||||||
| 301 |
Albany International Corp (Class A) |
9,927 | ||||||
| 429 |
Alliant Techsystems, Inc |
35,320 | ||||||
| 296 |
Altra Holdings, Inc |
8,105 | ||||||
| 224 |
* | Ameresco, Inc |
2,018 | |||||
| 90 |
e | American Railcar Industries, Inc |
3,016 | |||||
| 140 |
American Science & Engineering, Inc |
7,840 | ||||||
| 2,074 |
*,e | American Superconductor Corp |
5,475 | |||||
| 125 |
* | American Woodmark Corp |
4,338 | |||||
| 3,194 |
Ametek, Inc |
135,106 | ||||||
| 79 |
Ampco-Pittsburgh Corp |
1,483 | ||||||
| 410 |
* | API Technologies Corp |
1,148 | |||||
| 311 |
Apogee Enterprises, Inc |
7,464 | ||||||
| 611 |
Applied Industrial Technologies, Inc |
29,530 | ||||||
| 89 |
Argan, Inc |
1,388 | ||||||
| 362 |
Armstrong World Industries, Inc |
17,300 | ||||||
| 1,622 |
* | ArvinMeritor, Inc |
11,435 | |||||
| 237 |
Astec Industries, Inc |
8,127 | ||||||
| 122 |
* | Astronics Corp |
4,986 | |||||
| 18 |
* | Astronics Corp (Class B) |
732 | |||||
| 376 |
AZZ, Inc |
14,499 | ||||||
40
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,463 |
Babcock & Wilcox Co |
$ | 43,934 | |||||
| 677 |
Barnes Group, Inc |
20,303 | ||||||
| 1,296 |
* | BE Aerospace, Inc |
81,752 | |||||
| 752 |
* | Beacon Roofing Supply, Inc |
28,486 | |||||
| 565 |
Belden CDT, Inc |
28,210 | ||||||
| 570 |
* | Blount International, Inc |
6,737 | |||||
| 421 |
* | Bluelinx Holdings, Inc |
905 | |||||
| 9,950 |
Boeing Co |
1,019,278 | ||||||
| 586 |
Brady Corp (Class A) |
18,008 | ||||||
| 600 |
Briggs & Stratton Corp |
11,880 | ||||||
| 1,363 |
* | Builders FirstSource, Inc |
8,151 | |||||
| 232 |
* | CAI International, Inc |
5,468 | |||||
| 7,608 |
*,e | Capstone Turbine Corp |
8,901 | |||||
| 833 |
Carlisle Cos, Inc |
51,904 | ||||||
| 8,625 |
Caterpillar, Inc |
711,476 | ||||||
| 405 |
* | Chart Industries, Inc |
38,106 | |||||
| 1,335 |
Chicago Bridge & Iron Co NV |
79,646 | ||||||
| 230 |
CIRCOR International, Inc |
11,698 | ||||||
| 615 |
Clarcor, Inc |
32,109 | ||||||
| 424 |
CNH Global NV |
17,664 | ||||||
| 250 |
Coleman Cable, Inc |
4,515 | ||||||
| 1,121 |
* | Colfax Corp |
58,415 | |||||
| 196 |
* | Columbus McKinnon Corp |
4,179 | |||||
| 409 |
Comfort Systems USA, Inc |
6,102 | ||||||
| 301 |
* | Commercial Vehicle Group, Inc |
2,245 | |||||
| 636 |
Crane Co |
38,109 | ||||||
| 262 |
Cubic Corp |
12,602 | ||||||
| 2,474 |
Cummins, Inc |
268,330 | ||||||
| 554 |
Curtiss-Wright Corp |
20,531 | ||||||
| 7,898 |
Danaher Corp |
499,943 | ||||||
| 5,088 |
Deere & Co |
413,400 | ||||||
| 979 |
* | DigitalGlobe, Inc |
30,359 | |||||
| 1,888 |
Donaldson Co, Inc |
67,326 | ||||||
| 296 |
Douglas Dynamics, Inc |
3,842 | ||||||
| 2,244 |
Dover Corp |
174,269 | ||||||
| 139 |
* | Ducommun, Inc |
2,955 | |||||
| 124 |
* | DXP Enterprises, Inc |
8,258 | |||||
| 596 |
* | Dycom Industries, Inc |
13,791 | |||||
| 270 |
Dynamic Materials Corp |
4,458 | ||||||
| 6,200 |
Eaton Corp |
408,022 | ||||||
| 190 |
* | Edgen Group, Inc |
1,212 | |||||
| 923 |
EMCOR Group, Inc |
37,520 | ||||||
| 9,429 |
Emerson Electric Co |
514,258 | ||||||
| 255 |
Encore Wire Corp |
8,696 | ||||||
| 404 |
* | Energy Recovery, Inc |
1,669 | |||||
| 649 |
EnerSys |
31,827 | ||||||
| 206 |
* | Engility Holdings, Inc |
5,855 | |||||
| 100 |
*,e | Enphase Energy, Inc |
773 | |||||
| 277 |
* | EnPro Industries, Inc |
14,061 | |||||
| 317 |
ESCO Technologies, Inc |
10,264 | ||||||
| 388 |
* | Esterline Technologies Corp |
28,049 | |||||
| 2,455 |
Exelis, Inc |
33,854 | ||||||
| 3,889 |
Fastenal Co |
178,311 | ||||||
| 743 |
* | Federal Signal Corp |
6,501 | |||||
| 413 |
* | Flow International Corp |
1,524 | |||||
| 1,877 |
Flowserve Corp |
101,377 | ||||||
| 2,138 |
Fluor Corp |
126,805 | ||||||
| 2,162 |
Fortune Brands Home & Security, Inc |
83,756 | ||||||
| 554 |
Franklin Electric Co, Inc |
18,642 | ||||||
| 227 |
Freightcar America, Inc |
3,857 | ||||||
| 6,474 |
*,e | FuelCell Energy, Inc |
8,222 | |||||
| 408 |
* | Furmanite Corp |
2,730 | |||||
| 644 |
Gardner Denver, Inc |
48,416 | ||||||
| 594 |
GATX Corp |
28,173 | ||||||
| 794 |
*,e | GenCorp, Inc |
12,910 | |||||
| 628 |
Generac Holdings, Inc |
23,242 | ||||||
41
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 640 |
General Cable Corp |
$ | 19,680 | |||||
| 3,928 |
General Dynamics Corp |
307,680 | ||||||
| 135,612 |
General Electric Co |
3,144,842 | ||||||
| 726 |
* | Gibraltar Industries, Inc |
10,571 | |||||
| 199 |
Global Power Equipment Group, Inc |
3,208 | ||||||
| 242 |
Gorman-Rupp Co |
7,705 | ||||||
| 825 |
Graco, Inc |
52,148 | ||||||
| 1,560 |
*,e | GrafTech International Ltd |
11,357 | |||||
| 128 |
Graham Corp |
3,844 | ||||||
| 466 |
Granite Construction, Inc |
13,868 | ||||||
| 670 |
Great Lakes Dredge & Dock Corp |
5,239 | ||||||
| 419 |
* | Greenbrier Cos, Inc |
10,211 | |||||
| 686 |
Griffon Corp |
7,718 | ||||||
| 334 |
H&E Equipment Services, Inc |
7,037 | ||||||
| 150 |
Hardinge, Inc |
2,217 | ||||||
| 969 |
Harsco Corp |
22,471 | ||||||
| 768 |
Heico Corp |
38,684 | ||||||
| 1,310 |
* | Hexcel Corp |
44,606 | |||||
| 10,320 |
Honeywell International, Inc |
818,789 | ||||||
| 186 |
Houston Wire & Cable Co |
2,574 | ||||||
| 778 |
Hubbell, Inc (Class B) |
77,022 | ||||||
| 656 |
Huntington Ingalls |
37,051 | ||||||
| 78 |
Hurco Cos, Inc |
2,244 | ||||||
| 132 |
Hyster-Yale Materials Handling, Inc |
8,288 | ||||||
| 1,088 |
IDEX Corp |
58,545 | ||||||
| 646 |
* | II-VI, Inc |
10,504 | |||||
| 4,954 |
Illinois Tool Works, Inc |
342,668 | ||||||
| 3,895 |
Ingersoll-Rand plc |
216,250 | ||||||
| 155 |
Insteel Industries, Inc |
2,716 | ||||||
| 1,105 |
ITT Corp |
32,498 | ||||||
| 1,705 |
* | Jacobs Engineering Group, Inc |
93,997 | |||||
| 308 |
John Bean Technologies Corp |
6,471 | ||||||
| 1,396 |
Joy Global, Inc |
67,748 | ||||||
| 148 |
Kadant, Inc |
4,465 | ||||||
| 380 |
Kaman Corp |
13,133 | ||||||
| 428 |
Kaydon Corp |
11,791 | ||||||
| 1,895 |
KBR, Inc |
61,588 | ||||||
| 983 |
Kennametal, Inc |
38,170 | ||||||
| 424 |
*,e | KEYW Holding Corp |
5,618 | |||||
| 294 |
* | Kratos Defense & Security Solutions, Inc |
1,905 | |||||
| 1,180 |
L-3 Communications Holdings, Inc |
101,173 | ||||||
| 220 |
* | Layne Christensen Co |
4,292 | |||||
| 111 |
LB Foster Co (Class A) |
4,792 | ||||||
| 702 |
Lennox International, Inc |
45,307 | ||||||
| 1,128 |
Lincoln Electric Holdings, Inc |
64,601 | ||||||
| 170 |
e | Lindsay Manufacturing Co |
12,747 | |||||
| 101 |
* | LMI Aerospace, Inc |
1,893 | |||||
| 3,406 |
Lockheed Martin Corp |
369,415 | ||||||
| 131 |
LSI Industries, Inc |
1,060 | ||||||
| 201 |
* | Lydall, Inc |
2,935 | |||||
| 1,843 |
Manitowoc Co, Inc |
33,008 | ||||||
| 4,628 |
Masco Corp |
90,200 | ||||||
| 844 |
* | Mastec, Inc |
27,768 | |||||
| 171 |
Met-Pro Corp |
2,298 | ||||||
| 80 |
Michael Baker Corp |
2,169 | ||||||
| 238 |
* | Middleby Corp |
40,481 | |||||
| 115 |
Miller Industries, Inc |
1,769 | ||||||
| 595 |
* | Moog, Inc (Class A) |
30,660 | |||||
| 1,041 |
* | MRC Global, Inc |
28,752 | |||||
| 606 |
MSC Industrial Direct Co (Class A) |
46,941 | ||||||
| 447 |
Mueller Industries, Inc |
22,542 | ||||||
| 2,364 |
Mueller Water Products, Inc (Class A) |
16,335 | ||||||
| 209 |
* | MYR Group, Inc |
4,065 | |||||
| 58 |
e | National Presto Industries, Inc |
4,178 | |||||
| 755 |
*,e | Navistar International Corp |
20,959 | |||||
| 222 |
* | NCI Building Systems, Inc |
3,394 | |||||
42
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 202 |
NN, Inc |
$ | 2,305 | |||||
| 814 |
Nordson Corp |
56,418 | ||||||
| 100 |
* | Nortek, Inc |
6,443 | |||||
| 3,084 |
Northrop Grumman Corp |
255,355 | ||||||
| 96 |
* | Northwest Pipe Co |
2,678 | |||||
| 706 |
* | Orbital Sciences Corp |
12,263 | |||||
| 434 |
* | Orion Marine Group, Inc |
5,247 | |||||
| 1,154 |
* | Oshkosh Truck Corp |
43,817 | |||||
| 1,547 |
* | Owens Corning, Inc |
60,457 | |||||
| 4,632 |
Paccar, Inc |
248,553 | ||||||
| 1,472 |
Pall Corp |
97,785 | ||||||
| 1,939 |
Parker Hannifin Corp |
184,981 | ||||||
| 338 |
* | Patrick Industries, Inc |
7,027 | |||||
| 2,713 |
Pentair Ltd |
156,513 | ||||||
| 593 |
* | Perini Corp |
10,727 | |||||
| 250 |
* | Pgt, Inc |
2,168 | |||||
| 200 |
Pike Electric Corp |
2,460 | ||||||
| 211 |
* | Ply Gem Holdings, Inc |
4,233 | |||||
| 144 |
* | PMFG, Inc |
997 | |||||
| 591 |
*,e | Polypore International, Inc |
23,817 | |||||
| 94 |
* | Powell Industries, Inc |
4,855 | |||||
| 249 |
* | PowerSecure International, Inc |
3,743 | |||||
| 1,919 |
Precision Castparts Corp |
433,713 | ||||||
| 28 |
Preformed Line Products Co |
1,857 | ||||||
| 460 |
Primoris Services Corp |
9,071 | ||||||
| 222 |
*,e | Proto Labs, Inc |
14,423 | |||||
| 450 |
Quanex Building Products Corp |
7,578 | ||||||
| 2,673 |
* | Quanta Services, Inc |
70,728 | |||||
| 460 |
Raven Industries, Inc |
13,791 | ||||||
| 4,257 |
Raytheon Co |
281,473 | ||||||
| 262 |
* | RBC Bearings, Inc |
13,611 | |||||
| 583 |
Regal-Beloit Corp |
37,802 | ||||||
| 362 |
* | Rexnord Corp |
6,100 | |||||
| 1,820 |
Rockwell Automation, Inc |
151,315 | ||||||
| 1,785 |
Rockwell Collins, Inc |
113,187 | ||||||
| 1,320 |
Roper Industries, Inc |
163,970 | ||||||
| 454 |
* | Rush Enterprises, Inc (Class A) |
11,237 | |||||
| 533 |
Simpson Manufacturing Co, Inc |
15,681 | ||||||
| 738 |
Snap-On, Inc |
65,962 | ||||||
| 283 |
*,e | SolarCity Corp |
10,689 | |||||
| 1,597 |
* | Spirit Aerosystems Holdings, Inc (Class A) |
34,304 | |||||
| 643 |
SPX Corp |
46,283 | ||||||
| 151 |
Standex International Corp |
7,965 | ||||||
| 2,123 |
Stanley Works |
164,108 | ||||||
| 133 |
* | Sterling Construction Co, Inc |
1,205 | |||||
| 279 |
Sun Hydraulics Corp |
8,727 | ||||||
| 444 |
e | TAL International Group, Inc |
19,345 | |||||
| 812 |
* | Taser International, Inc |
6,918 | |||||
| 241 |
* | Tecumseh Products Co (Class A) |
2,634 | |||||
| 466 |
* | Teledyne Technologies, Inc |
36,045 | |||||
| 200 |
Tennant Co |
9,654 | ||||||
| 1,486 |
* | Terex Corp |
39,082 | |||||
| 246 |
e | Textainer Group Holdings Ltd |
9,456 | |||||
| 3,648 |
Textron, Inc |
95,030 | ||||||
| 81 |
* | The ExOne Company |
4,999 | |||||
| 356 |
* | Thermon Group Holdings |
7,262 | |||||
| 1,085 |
Timken Co |
61,064 | ||||||
| 624 |
e | Titan International, Inc |
10,527 | |||||
| 282 |
*,e | Titan Machinery, Inc |
5,536 | |||||
| 795 |
Toro Co |
36,101 | ||||||
| 687 |
TransDigm Group, Inc |
107,701 | ||||||
| 189 |
* | Trex Co, Inc |
8,976 | |||||
| 469 |
* | Trimas Corp |
17,484 | |||||
| 964 |
Trinity Industries, Inc |
37,056 | ||||||
| 680 |
Triumph Group, Inc |
53,822 | ||||||
| 100 |
Twin Disc, Inc |
2,370 | ||||||
43
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,214 |
*,e | United Rentals, Inc |
$ | 60,591 | ||||
| 12,056 |
United Technologies Corp |
1,120,485 | ||||||
| 233 |
Universal Forest Products, Inc |
9,301 | ||||||
| 959 |
URS Corp |
45,284 | ||||||
| 911 |
*,e | USG Corp |
20,999 | |||||
| 351 |
Valmont Industries, Inc |
50,225 | ||||||
| 200 |
Vicor Corp |
1,370 | ||||||
| 778 |
W.W. Grainger, Inc |
196,196 | ||||||
| 1,287 |
* | Wabash National Corp |
13,102 | |||||
| 766 |
* | WABCO Holdings, Inc |
57,213 | |||||
| 367 |
Watsco, Inc |
30,813 | ||||||
| 478 |
Watts Water Technologies, Inc (Class A) |
21,673 | ||||||
| 578 |
* | WESCO International, Inc |
39,281 | |||||
| 1,296 |
Westinghouse Air Brake Technologies Corp |
69,245 | ||||||
| 880 |
Woodward Governor Co |
35,200 | ||||||
| 2,461 |
Xylem, Inc |
66,299 | ||||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
19,103,932 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 1.0% |
| |||||||
| 655 |
ABM Industries, Inc |
16,054 | ||||||
| 611 |
Acacia Research (Acacia Technologies) |
13,656 | ||||||
| 1,386 |
* | ACCO Brands Corp |
8,815 | |||||
| 217 |
e | Acorn Energy, Inc |
1,831 | |||||
| 335 |
Administaff, Inc |
10,150 | ||||||
| 2,897 |
ADT Corp |
115,445 | ||||||
| 466 |
* | Advisory Board Co |
25,467 | |||||
| 200 |
American Ecology Corp |
5,488 | ||||||
| 412 |
* | ARC Document Solutions, Inc |
1,648 | |||||
| 120 |
* | AT Cross Co |
2,034 | |||||
| 1,360 |
Avery Dennison Corp |
58,154 | ||||||
| 97 |
Barrett Business Services, Inc |
5,064 | ||||||
| 550 |
Brink’s Co |
14,030 | ||||||
| 297 |
* | Casella Waste Systems, Inc (Class A) |
1,280 | |||||
| 854 |
*,e | CBIZ, Inc |
5,730 | |||||
| 100 |
CDI Corp |
1,416 | ||||||
| 90 |
e | Ceco Environmental Corp |
1,107 | |||||
| 676 |
*,e | Cenveo, Inc |
1,440 | |||||
| 1,396 |
Cintas Corp |
63,574 | ||||||
| 750 |
* | Clean Harbors, Inc |
37,898 | |||||
| 100 |
* | Consolidated Graphics, Inc |
4,701 | |||||
| 1,065 |
*,e | Coolbrands International, Inc |
916 | |||||
| 1,448 |
* | Copart, Inc |
44,598 | |||||
| 451 |
Corporate Executive Board Co |
28,512 | ||||||
| 1,489 |
Corrections Corp of America |
50,432 | ||||||
| 73 |
Courier Corp |
1,042 | ||||||
| 1,387 |
e | Covanta Holding Corp |
27,768 | |||||
| 167 |
* | CRA International, Inc |
3,084 | |||||
| 649 |
Deluxe Corp |
22,488 | ||||||
| 535 |
Dun & Bradstreet Corp |
52,136 | ||||||
| 236 |
* | EnerNOC, Inc |
3,129 | |||||
| 269 |
Ennis, Inc |
4,651 | ||||||
| 1,581 |
Equifax, Inc |
93,168 | ||||||
| 172 |
Exponent, Inc |
10,167 | ||||||
| 148 |
* | Franklin Covey Co |
1,992 | |||||
| 571 |
* | FTI Consulting, Inc |
18,780 | |||||
| 387 |
G & K Services, Inc (Class A) |
18,421 | ||||||
| 889 |
Geo Group, Inc |
30,182 | ||||||
| 191 |
* | GP Strategies Corp |
4,550 | |||||
| 825 |
Healthcare Services Group |
20,229 | ||||||
| 200 |
Heidrick & Struggles International, Inc |
3,344 | ||||||
| 380 |
* | Heritage-Crystal Clean, Inc |
5,552 | |||||
| 700 |
Herman Miller, Inc |
18,949 | ||||||
| 567 |
HNI Corp |
20,452 | ||||||
| 279 |
* | Huron Consulting Group, Inc |
12,901 | |||||
| 209 |
* | ICF International, Inc |
6,586 | |||||
44
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,113 |
* | ICO Global Communications Holdings Ltd |
$ | 5,536 | ||||
| 863 |
* | IHS, Inc (Class A) |
90,080 | |||||
| 582 |
*,e | Innerworkings, Inc |
6,315 | |||||
| 897 |
Interface, Inc |
15,222 | ||||||
| 110 |
e | Intersections, Inc |
965 | |||||
| 2,231 |
Iron Mountain, Inc |
59,367 | ||||||
| 995 |
KAR Auction Services, Inc |
22,756 | ||||||
| 300 |
Kelly Services, Inc (Class A) |
5,241 | ||||||
| 366 |
Kforce, Inc |
5,344 | ||||||
| 300 |
Kimball International, Inc (Class B) |
2,913 | ||||||
| 546 |
Knoll, Inc |
7,759 | ||||||
| 641 |
* | Korn/Ferry International |
12,012 | |||||
| 1,020 |
Manpower, Inc |
55,896 | ||||||
| 274 |
McGrath RentCorp |
9,360 | ||||||
| 352 |
Mine Safety Appliances Co |
16,386 | ||||||
| 172 |
* | Mistras Group, Inc |
3,024 | |||||
| 505 |
* | Mobile Mini, Inc |
16,741 | |||||
| 105 |
Multi-Color Corp |
3,186 | ||||||
| 631 |
* | Navigant Consulting, Inc |
7,572 | |||||
| 2,862 |
Nielsen Holdings NV |
96,135 | ||||||
| 113 |
NL Industries, Inc |
1,277 | ||||||
| 817 |
*,e | Odyssey Marine Exploration, Inc |
2,418 | |||||
| 549 |
* | On Assignment, Inc |
14,669 | |||||
| 295 |
* | Performant Financial Corp |
3,419 | |||||
| 2,619 |
e | Pitney Bowes, Inc |
38,447 | |||||
| 313 |
e | Quad |
7,543 | |||||
| 2,354 |
e | R.R. Donnelley & Sons Co |
32,980 | |||||
| 3,548 |
Republic Services, Inc |
120,419 | ||||||
| 514 |
Resources Connection, Inc |
5,962 | ||||||
| 1,842 |
Robert Half International, Inc |
61,210 | ||||||
| 772 |
Rollins, Inc |
19,995 | ||||||
| 421 |
* | RPX Corp |
7,073 | |||||
| 100 |
Schawk, Inc (Class A) |
1,313 | ||||||
| 189 |
* | Standard Parking Corp |
4,056 | |||||
| 1,106 |
Steelcase, Inc (Class A) |
16,125 | ||||||
| 1,147 |
* | Stericycle, Inc |
126,663 | |||||
| 390 |
* | Team, Inc |
14,761 | |||||
| 804 |
* | Tetra Tech, Inc |
18,902 | |||||
| 159 |
TMS International Corp |
2,358 | ||||||
| 854 |
Towers Watson & Co |
69,977 | ||||||
| 220 |
* | TRC Cos, Inc |
1,540 | |||||
| 550 |
* | TrueBlue, Inc |
11,577 | |||||
| 224 |
Unifirst Corp |
20,440 | ||||||
| 612 |
United Stationers, Inc |
20,533 | ||||||
| 1,985 |
* | Verisk Analytics, Inc |
118,504 | |||||
| 263 |
Viad Corp |
6,449 | ||||||
| 48 |
VSE Corp |
1,971 | ||||||
| 326 |
* | WageWorks, Inc |
11,231 | |||||
| 1,597 |
Waste Connections, Inc |
65,701 | ||||||
| 6,127 |
Waste Management, Inc |
247,102 | ||||||
| 279 |
West Corp |
6,177 | ||||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
2,421,613 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 1.6% |
| |||||||
| 479 |
American Greetings Corp (Class A) |
8,727 | ||||||
| 148 |
Arctic Cat, Inc |
6,657 | ||||||
| 140 |
Bassett Furniture Industries, Inc |
2,174 | ||||||
| 556 |
*,e | Beazer Homes USA, Inc |
9,741 | |||||
| 150 |
e | Blyth, Inc |
2,094 | |||||
| 1,238 |
Brunswick Corp |
39,554 | ||||||
| 806 |
e | Callaway Golf Co |
5,304 | |||||
| 778 |
Carter’s, Inc |
57,626 | ||||||
| 72 |
* | Cavco Industries, Inc |
3,632 | |||||
| 271 |
* | Clarus Corp |
2,547 | |||||
| 3,687 |
Coach, Inc |
210,491 | ||||||
45
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 137 |
e | Columbia Sportswear Co |
$ | 8,583 | ||||
| 1,231 |
* | CROCS, Inc |
20,312 | |||||
| 46 |
CSS Industries, Inc |
1,147 | ||||||
| 110 |
Culp, Inc |
1,913 | ||||||
| 474 |
*,e | Deckers Outdoor Corp |
23,942 | |||||
| 3,689 |
DR Horton, Inc |
78,502 | ||||||
| 279 |
e | Ethan Allen Interiors, Inc |
8,035 | |||||
| 1,572 |
* | Fifth & Pacific Cos, Inc |
35,119 | |||||
| 60 |
Flexsteel Industries, Inc |
1,463 | ||||||
| 683 |
* | Fossil Group, Inc |
70,561 | |||||
| 1,610 |
*,e | Garmin Ltd |
58,218 | |||||
| 205 |
* | G-III Apparel Group Ltd |
9,865 | |||||
| 1,270 |
Hanesbrands, Inc |
65,303 | ||||||
| 932 |
Harman International Industries, Inc |
50,514 | ||||||
| 1,546 |
e | Hasbro, Inc |
69,307 | |||||
| 477 |
* | Helen of Troy Ltd |
18,303 | |||||
| 140 |
Hooker Furniture Corp |
2,276 | ||||||
| 1,946 |
*,e | Hovnanian Enterprises, Inc (Class A) |
10,917 | |||||
| 784 |
* | Iconix Brand Group, Inc |
23,057 | |||||
| 429 |
* | iRobot Corp |
17,061 | |||||
| 257 |
Jakks Pacific, Inc |
2,891 | ||||||
| 1,456 |
* | Jarden Corp |
63,700 | |||||
| 1,084 |
Jones Apparel Group, Inc |
14,905 | ||||||
| 1,193 |
e | KB Home |
23,419 | |||||
| 628 |
La-Z-Boy, Inc |
12,730 | ||||||
| 636 |
*,e | Leapfrog Enterprises, Inc |
6,258 | |||||
| 1,876 |
Leggett & Platt, Inc |
58,325 | ||||||
| 2,133 |
Lennar Corp (Class A) |
76,873 | ||||||
| 193 |
* | Libbey, Inc |
4,626 | |||||
| 112 |
Lifetime Brands, Inc |
1,521 | ||||||
| 385 |
* | M/I Homes, Inc |
8,840 | |||||
| 300 |
* | Maidenform Brands, Inc |
5,199 | |||||
| 4,530 |
Mattel, Inc |
205,254 | ||||||
| 441 |
MDC Holdings, Inc |
14,337 | ||||||
| 475 |
* | Meritage Homes Corp |
20,596 | |||||
| 2,643 |
* | Michael Kors Holdings Ltd |
163,919 | |||||
| 785 |
* | Mohawk Industries, Inc |
88,305 | |||||
| 200 |
Movado Group, Inc |
6,766 | ||||||
| 66 |
Nacco Industries, Inc (Class A) |
3,781 | ||||||
| 398 |
* | Nautilus, Inc |
3,459 | |||||
| 3,773 |
Newell Rubbermaid, Inc |
99,041 | ||||||
| 9,290 |
Nike, Inc (Class B) |
591,587 | ||||||
| 66 |
* | NVR, Inc |
60,852 | |||||
| 200 |
Oxford Industries, Inc |
12,480 | ||||||
| 161 |
Perry Ellis International, Inc |
3,270 | ||||||
| 1,044 |
Phillips-Van Heusen Corp |
130,552 | ||||||
| 881 |
Polaris Industries, Inc |
83,695 | ||||||
| 567 |
Pool Corp |
29,716 | ||||||
| 5,088 |
* | Pulte Homes, Inc |
96,519 | |||||
| 1,598 |
* | Quiksilver, Inc |
10,291 | |||||
| 787 |
Ralph Lauren Corp |
136,733 | ||||||
| 101 |
RG Barry Corp |
1,640 | ||||||
| 602 |
Ryland Group, Inc |
24,140 | ||||||
| 602 |
* | Skechers U.S.A., Inc (Class A) |
14,454 | |||||
| 208 |
*,e | Skullcandy, Inc |
1,136 | |||||
| 1,107 |
*,e | Smith & Wesson Holding Corp |
11,048 | |||||
| 1,997 |
*,e | Standard-Pacific Corp |
16,635 | |||||
| 100 |
* | Steinway Musical Instruments, Inc |
3,043 | |||||
| 501 |
* | Steven Madden Ltd |
24,238 | |||||
| 228 |
e | Sturm Ruger & Co, Inc |
10,953 | |||||
| 415 |
* | Taylor Morrison Home Corp |
10,118 | |||||
| 798 |
* | Tempur-Pedic International, Inc |
35,032 | |||||
| 2,217 |
* | Toll Brothers, Inc |
72,341 | |||||
| 186 |
* | TRI Pointe Homes, Inc |
3,084 | |||||
| 304 |
True Religion Apparel, Inc |
9,625 | ||||||
| 628 |
* | Tumi Holdings, Inc |
15,072 | |||||
46
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 709 |
Tupperware Corp |
$ | 55,082 | |||||
| 1,101 |
*,e | Under Armour, Inc (Class A) |
65,741 | |||||
| 340 |
* | Unifi, Inc |
7,028 | |||||
| 166 |
* | Universal Electronics, Inc |
4,670 | |||||
| 246 |
*,e | Vera Bradley, Inc |
5,328 | |||||
| 1,149 |
VF Corp |
221,826 | ||||||
| 60 |
Weyco Group, Inc |
1,512 | ||||||
| 1,018 |
Whirlpool Corp |
116,418 | ||||||
| 183 |
* | William Lyon Homes, Inc |
4,613 | |||||
| 659 |
Wolverine World Wide, Inc |
35,988 | ||||||
| 939 |
*,e | Zagg, Inc |
5,024 | |||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
3,739,174 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 2.2% |
| |||||||
| 306 |
* | AFC Enterprises |
10,998 | |||||
| 224 |
* | American Public Education, Inc |
8,324 | |||||
| 532 |
Ameristar Casinos, Inc |
13,986 | ||||||
| 1,296 |
* | Apollo Group, Inc (Class A) |
22,965 | |||||
| 159 |
* | Ascent Media Corp (Series A) |
12,413 | |||||
| 569 |
*,e | Bally Technologies, Inc |
32,103 | |||||
| 298 |
* | BJ’s Restaurants, Inc |
11,056 | |||||
| 725 |
* | Bloomin’ Brands, Inc |
18,038 | |||||
| 379 |
Bob Evans Farms, Inc |
17,805 | ||||||
| 704 |
* | Boyd Gaming Corp |
7,955 | |||||
| 141 |
* | Bravo Brio Restaurant Group, Inc |
2,513 | |||||
| 234 |
* | Bridgepoint Education, Inc |
2,850 | |||||
| 167 |
* | Bright Horizons Family Solutions |
5,797 | |||||
| 931 |
Brinker International, Inc |
36,709 | ||||||
| 246 |
* | Buffalo Wild Wings, Inc |
24,147 | |||||
| 1,316 |
Burger King Worldwide, Inc |
25,675 | ||||||
| 540 |
*,e | Caesars Entertainment Corp |
7,398 | |||||
| 202 |
* | Capella Education Co |
8,413 | |||||
| 812 |
* | Career Education Corp |
2,355 | |||||
| 5,438 |
Carnival Corp |
186,469 | ||||||
| 200 |
Carriage Services, Inc |
3,390 | ||||||
| 288 |
CBRL Group, Inc |
27,262 | ||||||
| 272 |
CEC Entertainment, Inc |
11,163 | ||||||
| 746 |
Cheesecake Factory |
31,250 | ||||||
| 406 |
* | Chipotle Mexican Grill, Inc (Class A) |
147,926 | |||||
| 370 |
e | Choice Hotels International, Inc |
14,685 | |||||
| 155 |
Churchill Downs, Inc |
12,222 | ||||||
| 215 |
* | Chuy’s Holdings, Inc |
8,243 | |||||
| 1,059 |
*,e | Corinthian Colleges, Inc |
2,372 | |||||
| 1,651 |
Darden Restaurants, Inc |
83,342 | ||||||
| 136 |
* | Del Frisco’s Restaurant Group, Inc |
2,912 | |||||
| 949 |
* | Denny’s Corp |
5,333 | |||||
| 854 |
DeVry, Inc |
26,491 | ||||||
| 223 |
DineEquity, Inc |
15,358 | ||||||
| 767 |
Domino’s Pizza, Inc |
44,601 | ||||||
| 1,398 |
Dunkin Brands Group, Inc |
59,862 | ||||||
| 519 |
*,e | Education Management Corp |
2,917 | |||||
| 200 |
* | Fiesta Restaurant Group, Inc |
6,878 | |||||
| 595 |
* | Grand Canyon Education, Inc |
19,177 | |||||
| 3,570 |
H&R Block, Inc |
99,068 | ||||||
| 856 |
Hillenbrand, Inc |
20,296 | ||||||
| 540 |
* | Hyatt Hotels Corp |
21,794 | |||||
| 80 |
* | Ignite Restaurant Group, Inc |
1,510 | |||||
| 3,498 |
International Game Technology |
58,452 | ||||||
| 548 |
International Speedway Corp (Class A) |
17,246 | ||||||
| 474 |
Interval Leisure Group, Inc |
9,442 | ||||||
| 244 |
* | Isle of Capri Casinos, Inc |
1,830 | |||||
| 351 |
*,e | ITT Educational Services, Inc |
8,564 | |||||
| 678 |
* | Jack in the Box, Inc |
26,639 | |||||
| 147 |
* | Jamba, Inc |
2,195 | |||||
| 310 |
*,e | K12, Inc |
8,144 | |||||
47
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 865 |
* | Krispy Kreme Doughnuts, Inc |
$ | 15,094 | ||||
| 5,127 |
Las Vegas Sands Corp |
271,372 | ||||||
| 545 |
* | Life Time Fitness, Inc |
27,310 | |||||
| 798 |
* | LifeLock, Inc |
9,345 | |||||
| 288 |
Lincoln Educational Services Corp |
1,518 | ||||||
| 140 |
Mac-Gray Corp |
1,988 | ||||||
| 200 |
Marcus Corp |
2,544 | ||||||
| 3,054 |
Marriott International, Inc (Class A) |
123,290 | ||||||
| 345 |
* | Marriott Vacations Worldwide Corp |
14,918 | |||||
| 367 |
Matthews International Corp (Class A) |
13,836 | ||||||
| 13,148 |
McDonald’s Corp |
1,301,652 | ||||||
| 5,009 |
* | MGM Mirage |
74,033 | |||||
| 200 |
* | Monarch Casino & Resort, Inc |
3,372 | |||||
| 510 |
* | Morgans Hotel Group Co |
4,111 | |||||
| 322 |
* | Multimedia Games, Inc |
8,395 | |||||
| 30 |
* | Nathan’s Famous, Inc |
1,567 | |||||
| 354 |
*,e | Norwegian Cruise Line Holdings Ltd |
10,730 | |||||
| 1,101 |
* | Orient-Express Hotels Ltd (Class A) |
13,388 | |||||
| 397 |
* | Outerwall, Inc |
23,292 | |||||
| 374 |
* | Panera Bread Co (Class A) |
69,542 | |||||
| 263 |
* | Papa John’s International, Inc |
17,192 | |||||
| 861 |
* | Penn National Gaming, Inc |
45,512 | |||||
| 793 |
* | Pinnacle Entertainment, Inc |
15,598 | |||||
| 150 |
* | Red Robin Gourmet Burgers, Inc |
8,277 | |||||
| 674 |
Regis Corp |
11,067 | ||||||
| 2,109 |
Royal Caribbean Cruises Ltd |
70,314 | ||||||
| 779 |
* | Ruby Tuesday, Inc |
7,190 | |||||
| 473 |
Ruth’s Chris Steak House, Inc |
5,709 | ||||||
| 774 |
* | Scientific Games Corp (Class A) |
8,707 | |||||
| 402 |
SeaWorld Entertainment, Inc |
14,110 | ||||||
| 2,758 |
Service Corp International |
49,727 | ||||||
| 646 |
* | SHFL Entertainment, Inc |
11,441 | |||||
| 864 |
e | Six Flags Entertainment Corp |
30,378 | |||||
| 729 |
* | Sonic Corp |
10,614 | |||||
| 897 |
Sotheby’s (Class A) |
34,005 | ||||||
| 164 |
Speedway Motorsports, Inc |
2,854 | ||||||
| 9,810 |
Starbucks Corp |
642,457 | ||||||
| 2,550 |
Starwood Hotels & Resorts Worldwide, Inc |
161,135 | ||||||
| 20 |
* | Steak N Shake Co |
8,208 | |||||
| 185 |
* | Steiner Leisure Ltd |
9,779 | |||||
| 1,142 |
Stewart Enterprises, Inc (Class A) |
14,949 | ||||||
| 171 |
e | Strayer Education, Inc |
8,350 | |||||
| 823 |
Texas Roadhouse, Inc (Class A) |
20,591 | ||||||
| 250 |
Town Sports International Holdings, Inc |
2,693 | ||||||
| 228 |
Universal Technical Institute, Inc |
2,355 | ||||||
| 437 |
Vail Resorts, Inc |
26,884 | ||||||
| 356 |
e | Weight Watchers International, Inc |
16,376 | |||||
| 3,949 |
e | Wendy’s |
23,023 | |||||
| 698 |
* | WMS Industries, Inc |
17,806 | |||||
| 1,783 |
Wyndham Worldwide Corp |
102,041 | ||||||
| 1,043 |
Wynn Resorts Ltd |
133,504 | ||||||
| 5,898 |
Yum! Brands, Inc |
408,967 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
5,191,643 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 6.6% |
| |||||||
| 713 |
* | Affiliated Managers Group, Inc |
116,889 | |||||
| 4,010 |
* | American Capital Ltd |
50,807 | |||||
| 12,428 |
American Express Co |
929,117 | ||||||
| 2,644 |
Ameriprise Financial, Inc |
213,847 | ||||||
| 2,935 |
Apollo Investment Corp |
22,717 | ||||||
| 3,521 |
Ares Capital Corp |
60,561 | ||||||
| 167 |
* | Artisan Partners Asset Management, Inc |
8,335 | |||||
| 141,459 |
Bank of America Corp |
1,819,163 | ||||||
| 15,252 |
Bank of New York Mellon Corp |
427,819 | ||||||
| 1,263 |
BGC Partners, Inc (Class A) |
7,439 | ||||||
48
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 942 |
e | BlackRock Kelso Capital Corp |
$ | 8,817 | ||||
| 1,712 |
BlackRock, Inc |
439,727 | ||||||
| 200 |
Calamos Asset Management, Inc (Class A) |
2,100 | ||||||
| 7,633 |
Capital One Financial Corp |
479,429 | ||||||
| 47 |
Capital Southwest Corp |
6,478 | ||||||
| 400 |
Cash America International, Inc |
18,184 | ||||||
| 1,112 |
CBOE Holdings, Inc |
51,864 | ||||||
| 14,460 |
Charles Schwab Corp |
306,986 | ||||||
| 39,907 |
Citigroup, Inc |
1,914,339 | ||||||
| 4,197 |
CME Group, Inc |
318,888 | ||||||
| 207 |
Cohen & Steers, Inc |
7,034 | ||||||
| 888 |
* | Cowen Group, Inc |
2,575 | |||||
| 98 |
* | Credit Acceptance Corp |
10,295 | |||||
| 22 |
Diamond Hill Investment Group, Inc |
1,871 | ||||||
| 6,464 |
Discover Financial Services |
307,945 | ||||||
| 586 |
* | Dollar Financial Corp |
8,093 | |||||
| 3,622 |
* | E*Trade Financial Corp |
45,855 | |||||
| 1,602 |
Eaton Vance Corp |
60,219 | ||||||
| 302 |
*,e | Encore Capital Group, Inc |
9,999 | |||||
| 364 |
Evercore Partners, Inc (Class A) |
14,298 | ||||||
| 545 |
* | Ezcorp, Inc (Class A) |
9,200 | |||||
| 163 |
* | FBR & Co |
4,117 | |||||
| 1,318 |
e | Federated Investors, Inc (Class B) |
36,126 | |||||
| 149 |
Fidus Investment Corp |
2,788 | ||||||
| 1,653 |
* | Fifth Street Finance Corp |
17,274 | |||||
| 642 |
Financial Engines, Inc |
29,269 | ||||||
| 363 |
* | First Cash Financial Services, Inc |
17,863 | |||||
| 641 |
*,e | First Marblehead Corp |
756 | |||||
| 110 |
* | Firsthand Technology Value Fund, Inc |
2,185 | |||||
| 1,801 |
Franklin Resources, Inc |
244,972 | ||||||
| 208 |
Friedman Billings Ramsey Group, Inc (Class A) |
5,562 | ||||||
| 482 |
e | FXCM, Inc |
7,910 | |||||
| 69 |
GAMCO Investors, Inc (Class A) |
3,823 | ||||||
| 704 |
GFI Group, Inc |
2,753 | ||||||
| 239 |
Gladstone Capital Corp |
1,953 | ||||||
| 252 |
Gladstone Investment Corp |
1,852 | ||||||
| 6,013 |
Goldman Sachs Group, Inc |
909,466 | ||||||
| 450 |
e | Golub Capital BDC, Inc |
7,875 | |||||
| 276 |
*,e | Green Dot Corp |
5,506 | |||||
| 354 |
Greenhill & Co, Inc |
16,192 | ||||||
| 240 |
*,e | GSV Capital Corp |
1,886 | |||||
| 808 |
Hercules Technology Growth Capital, Inc |
11,263 | ||||||
| 409 |
HFF, Inc (Class A) |
7,268 | ||||||
| 80 |
Horizon Technology Finance Corp |
1,099 | ||||||
| 987 |
* | ING US, Inc |
26,708 | |||||
| 610 |
Interactive Brokers Group, Inc (Class A) |
9,742 | ||||||
| 957 |
* | IntercontinentalExchange, Inc |
170,116 | |||||
| 153 |
* | International Assets Holding Corp |
2,670 | |||||
| 405 |
* | Internet Capital Group, Inc |
4,617 | |||||
| 5,829 |
Invesco Ltd |
185,362 | ||||||
| 524 |
* | Investment Technology Group, Inc |
7,325 | |||||
| 9,450 |
e | iShares Russell 3000 Index Fund |
910,980 | |||||
| 2,289 |
e | Janus Capital Group, Inc |
19,479 | |||||
| 173 |
JMP Group, Inc |
1,149 | ||||||
| 49,574 |
JPMorgan Chase & Co |
2,617,012 | ||||||
| 240 |
e | KCAP Financial, Inc |
2,702 | |||||
| 2,517 |
* | Knight Capital Group, Inc (Class A) |
9,036 | |||||
| 1,144 |
* | Ladenburg Thalmann Financial Services, Inc |
1,888 | |||||
| 1,683 |
Lazard Ltd (Class A) |
54,108 | ||||||
| 1,523 |
Legg Mason, Inc |
47,228 | ||||||
| 3,959 |
Leucadia National Corp |
103,805 | ||||||
| 741 |
LPL Financial Holdings, Inc |
27,980 | ||||||
| 459 |
e | Main Street Capital Corp |
12,710 | |||||
| 175 |
Manning & Napier, Inc |
3,108 | ||||||
| 463 |
MarketAxess Holdings, Inc |
21,645 | ||||||
| 102 |
Marlin Business Services Corp |
2,324 | ||||||
49
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 778 |
MCG Capital Corp |
$ | 4,053 | |||||
| 175 |
Medallion Financial Corp |
2,434 | ||||||
| 212 |
Medley Capital Corp |
2,879 | ||||||
| 2,549 |
Moody’s Corp |
155,311 | ||||||
| 20,034 |
Morgan Stanley |
489,431 | ||||||
| 1,580 |
* | MSCI, Inc (Class A) |
52,567 | |||||
| 407 |
MVC Capital, Inc |
5,124 | ||||||
| 1,500 |
Nasdaq Stock Market, Inc |
49,185 | ||||||
| 320 |
Nelnet, Inc (Class A) |
11,549 | ||||||
| 370 |
*,m | Netspend Holdings, Inc |
5,909 | |||||
| 413 |
e | New Mountain Finance Corp |
5,848 | |||||
| 341 |
* | NewStar Financial, Inc |
4,542 | |||||
| 300 |
NGP Capital Resources Co |
1,839 | ||||||
| 120 |
e | Nicholas Financial, Inc |
1,814 | |||||
| 3,140 |
Northern Trust Corp |
181,806 | ||||||
| 3,187 |
NYSE Euronext |
131,942 | ||||||
| 116 |
Oppenheimer Holdings, Inc |
2,209 | ||||||
| 725 |
PennantPark Investment Corp |
8,011 | ||||||
| 639 |
* | PHH Corp |
13,023 | |||||
| 272 |
* | Pico Holdings, Inc |
5,701 | |||||
| 236 |
* | Piper Jaffray Cos |
7,460 | |||||
| 222 |
* | Portfolio Recovery Associates, Inc |
34,106 | |||||
| 3,190 |
e | Prospect Capital Corp |
34,452 | |||||
| 90 |
Pzena Investment Management, Inc (Class A) |
587 | ||||||
| 1,591 |
Raymond James Financial, Inc |
68,381 | ||||||
| 60 |
* | Regional Management Corp |
1,500 | |||||
| 150 |
Resource America, Inc (Class A) |
1,275 | ||||||
| 219 |
* | Safeguard Scientifics, Inc |
3,515 | |||||
| 1,892 |
SEI Investments Co |
53,790 | ||||||
| 5,829 |
SLM Corp |
133,251 | ||||||
| 586 |
Solar Capital Ltd |
13,531 | ||||||
| 125 |
Solar Senior Capital Ltd |
2,301 | ||||||
| 5,981 |
State Street Corp |
390,021 | ||||||
| 154 |
Stellus Capital Investment Corp |
2,318 | ||||||
| 831 |
* | Stifel Financial Corp |
29,642 | |||||
| 289 |
* | SWS Group, Inc |
1,575 | |||||
| 3,446 |
T Rowe Price Group, Inc |
252,075 | ||||||
| 343 |
TCP Capital Corp |
5,752 | ||||||
| 3,143 |
TD Ameritrade Holding Corp |
76,343 | ||||||
| 343 |
THL Credit, Inc |
5,210 | ||||||
| 692 |
e | TICC Capital Corp |
6,657 | |||||
| 517 |
e | Triangle Capital Corp |
14,223 | |||||
| 76 |
* | Virtus Investment Partners, Inc |
13,396 | |||||
| 1,207 |
Waddell & Reed Financial, Inc (Class A) |
52,504 | ||||||
| 462 |
Walter Investment Management Corp |
15,620 | ||||||
| 61 |
Westwood Holdings Group, Inc |
2,618 | ||||||
| 1,321 |
* | WisdomTree Investments, Inc |
15,284 | |||||
| 174 |
*,e | World Acceptance Corp |
15,128 | |||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
15,650,034 | |||||||
|
|
|
|||||||
| ENERGY - 9.4% |
| |||||||
| 2,642 |
*,e | Abraxas Petroleum Corp |
5,548 | |||||
| 30 |
Adams Resources & Energy, Inc |
2,067 | ||||||
| 429 |
Alon USA Energy, Inc |
6,203 | ||||||
| 3,062 |
* | Alpha Natural Resources, Inc |
16,045 | |||||
| 1,985 |
*,e | Amyris Biotechnologies, Inc |
5,737 | |||||
| 6,473 |
Anadarko Petroleum Corp |
556,225 | ||||||
| 5,068 |
Apache Corp |
424,850 | ||||||
| 180 |
* | APCO Argentina, Inc |
2,075 | |||||
| 503 |
*,e | Approach Resources, Inc |
12,359 | |||||
| 3,374 |
e | Arch Coal, Inc |
12,754 | |||||
| 675 |
* | Atwood Oceanics, Inc |
35,134 | |||||
| 5,653 |
Baker Hughes, Inc |
260,773 | ||||||
| 658 |
*,e | Basic Energy Services, Inc |
7,955 | |||||
| 662 |
Berry Petroleum Co (Class A) |
28,016 | ||||||
50
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 553 |
*,e | Bill Barrett Corp |
$ | 11,182 | ||||
| 412 |
Bolt Technology Corp |
7,037 | ||||||
| 340 |
* | Bonanza Creek Energy, Inc |
12,056 | |||||
| 3,876 |
*,e | BPZ Energy, Inc |
6,938 | |||||
| 475 |
Bristow Group, Inc |
31,027 | ||||||
| 564 |
*,e | C&J Energy Services, Inc |
10,925 | |||||
| 2,765 |
Cabot Oil & Gas Corp |
196,370 | ||||||
| 4,328 |
*,e | Cal Dive International, Inc |
8,137 | |||||
| 1,747 |
* | Callon Petroleum Co |
5,887 | |||||
| 3,191 |
* | Cameron International Corp |
195,162 | |||||
| 235 |
e | CARBO Ceramics, Inc |
15,846 | |||||
| 483 |
* | Carrizo Oil & Gas, Inc |
13,683 | |||||
| 3,164 |
* | Cheniere Energy, Inc |
87,833 | |||||
| 7,605 |
Chesapeake Energy Corp |
154,990 | ||||||
| 25,424 |
Chevron Corp |
3,008,676 | ||||||
| 1,094 |
Cimarex Energy Co |
71,099 | ||||||
| 90 |
* | Clayton Williams Energy, Inc |
3,915 | |||||
| 839 |
*,e | Clean Energy Fuels Corp |
11,075 | |||||
| 755 |
* | Cloud Peak Energy, Inc |
12,442 | |||||
| 3,599 |
* | Cobalt International Energy, Inc |
95,625 | |||||
| 599 |
Comstock Resources, Inc |
9,422 | ||||||
| 1,328 |
* | Concho Resources, Inc |
111,180 | |||||
| 16,036 |
ConocoPhillips |
970,178 | ||||||
| 2,890 |
Consol Energy, Inc |
78,319 | ||||||
| 228 |
Contango Oil & Gas Co |
7,695 | ||||||
| 560 |
*,e | Continental Resources, Inc |
48,194 | |||||
| 1,695 |
* | Crimson Exploration, Inc |
4,780 | |||||
| 628 |
Crosstex Energy, Inc |
12,409 | ||||||
| 212 |
CVR Energy, Inc |
10,049 | ||||||
| 1,093 |
*,m | CVR Energy, Inc (Contingent value right) |
0 | |||||
| 213 |
* | Dawson Geophysical Co |
7,851 | |||||
| 486 |
Delek US Holdings, Inc |
13,987 | ||||||
| 4,935 |
* | Denbury Resources, Inc |
85,474 | |||||
| 5,192 |
* | Devon Energy Corp |
269,361 | |||||
| 904 |
Diamond Offshore Drilling, Inc |
62,186 | ||||||
| 217 |
* | Diamondback Energy, Inc |
7,230 | |||||
| 994 |
* | Dresser-Rand Group, Inc |
59,620 | |||||
| 510 |
* | Dril-Quip, Inc |
46,048 | |||||
| 1,061 |
* | Emerald Oil, Inc |
7,278 | |||||
| 780 |
*,e | Endeavour International Corp |
2,995 | |||||
| 915 |
Energen Corp |
47,818 | ||||||
| 1,096 |
Energy XXI Bermuda Ltd |
24,309 | ||||||
| 3,539 |
EOG Resources, Inc |
466,016 | ||||||
| 422 |
* | EPL Oil & Gas, Inc |
12,390 | |||||
| 1,921 |
Equitable Resources, Inc |
152,470 | ||||||
| 272 |
* | Era Group, Inc |
7,113 | |||||
| 468 |
* | Evolution Petroleum Corp |
5,106 | |||||
| 1,767 |
e | EXCO Resources, Inc |
13,500 | |||||
| 747 |
* | Exterran Holdings, Inc |
21,006 | |||||
| 58,315 |
d | Exxon Mobil Corp |
5,268,760 | |||||
| 3,113 |
* | FMC Technologies, Inc |
173,332 | |||||
| 1,851 |
*,e | Forest Oil Corp |
7,571 | |||||
| 473 |
*,e | Forum Energy Technologies, Inc |
14,393 | |||||
| 743 |
*,e | Frontline Ltd |
1,315 | |||||
| 1,633 |
*,e | FX Energy, Inc |
5,242 | |||||
| 291 |
GasLog Ltd |
3,725 | ||||||
| 1,809 |
* | Gastar Exploration Ltd |
4,830 | |||||
| 164 |
* | Geospace Technologies Corp |
11,329 | |||||
| 690 |
*,e | Global Geophysical Services, Inc |
3,257 | |||||
| 551 |
e | Golar LNG Ltd |
17,571 | |||||
| 555 |
*,e | Goodrich Petroleum Corp |
7,104 | |||||
| 569 |
* | Green Plains Renewable Energy, Inc |
7,579 | |||||
| 190 |
Gulf Island Fabrication, Inc |
3,639 | ||||||
| 359 |
Gulfmark Offshore, Inc |
16,187 | ||||||
| 998 |
* | Gulfport Energy Corp |
46,976 | |||||
| 2,729 |
*,e | Halcon Resources Corp |
15,473 | |||||
51
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 649 |
Hallador Petroleum Co |
$ | 5,224 | |||||
| 12,099 |
Halliburton Co |
504,770 | ||||||
| 1,341 |
* | Helix Energy Solutions Group, Inc |
30,897 | |||||
| 1,186 |
Helmerich & Payne, Inc |
74,066 | ||||||
| 2,303 |
* | Hercules Offshore, Inc |
16,213 | |||||
| 3,937 |
Hess Corp |
261,771 | ||||||
| 2,662 |
Holly Corp |
113,880 | ||||||
| 471 |
* | Hornbeck Offshore Services, Inc |
25,199 | |||||
| 1,704 |
* | ION Geophysical Corp |
10,258 | |||||
| 13 |
* | Isramco, Inc |
1,211 | |||||
| 2,045 |
* | Key Energy Services, Inc |
12,168 | |||||
| 8,686 |
Kinder Morgan, Inc |
331,371 | ||||||
| 1,319 |
*,e | KiOR, Inc (Class A) |
7,531 | |||||
| 185 |
Knightsbridge Tankers Ltd |
1,362 | ||||||
| 3,714 |
* | Kodiak Oil & Gas Corp |
33,017 | |||||
| 1,238 |
* | Kosmos Energy LLC |
12,578 | |||||
| 455 |
* | Laredo Petroleum Holdings, Inc |
9,355 | |||||
| 457 |
Lufkin Industries, Inc |
40,431 | ||||||
| 3,031 |
*,e | Magnum Hunter Resources Corp |
11,063 | |||||
| 9,298 |
Marathon Oil Corp |
321,525 | ||||||
| 4,259 |
Marathon Petroleum Corp |
302,645 | ||||||
| 652 |
* | Matador Resources Co |
7,811 | |||||
| 440 |
* | Matrix Service Co |
6,855 | |||||
| 2,913 |
* | McDermott International, Inc |
23,828 | |||||
| 783 |
* | Midstates Petroleum Co, Inc |
4,236 | |||||
| 1,226 |
*,e | Miller Petroleum, Inc |
4,904 | |||||
| 120 |
* | Mitcham Industries, Inc |
2,014 | |||||
| 2,523 |
Murphy Oil Corp |
153,625 | ||||||
| 3,568 |
Nabors Industries Ltd |
54,626 | ||||||
| 5,535 |
National Oilwell Varco, Inc |
381,362 | ||||||
| 351 |
* | Natural Gas Services Group, Inc |
8,245 | |||||
| 1,672 |
* | Newfield Exploration Co |
39,944 | |||||
| 1,250 |
* | Newpark Resources, Inc |
13,738 | |||||
| 4,703 |
Noble Energy, Inc |
282,368 | ||||||
| 1,154 |
e | Nordic American Tanker Shipping |
8,736 | |||||
| 911 |
*,e | Northern Oil And Gas, Inc |
12,153 | |||||
| 1,688 |
*,e | Nuverra Environmental Solutions, Inc |
4,895 | |||||
| 1,205 |
* | Oasis Petroleum, Inc |
46,838 | |||||
| 10,534 |
Occidental Petroleum Corp |
939,949 | ||||||
| 1,376 |
Oceaneering International, Inc |
99,347 | ||||||
| 721 |
* | Oil States International, Inc |
66,793 | |||||
| 85 |
Panhandle Oil and Gas, Inc (Class A) |
2,422 | ||||||
| 1,722 |
* | Parker Drilling Co |
8,576 | |||||
| 1,923 |
Patterson-UTI Energy, Inc |
37,220 | ||||||
| 332 |
e | PBF Energy, Inc |
8,599 | |||||
| 403 |
* | PDC Energy, Inc |
20,746 | |||||
| 3,457 |
Peabody Energy Corp |
50,610 | ||||||
| 1,680 |
Penn Virginia Corp |
7,896 | ||||||
| 815 |
* | Petroquest Energy, Inc |
3,227 | |||||
| 149 |
* | PHI, Inc |
5,111 | |||||
| 8,110 |
Phillips 66 |
477,760 | ||||||
| 1,260 |
* | Pioneer Energy Services Corp |
8,341 | |||||
| 1,758 |
Pioneer Natural Resources Co |
254,471 | ||||||
| 2,264 |
Questar Market Resources, Inc |
62,894 | ||||||
| 2,381 |
*,e | Quicksilver Resources, Inc |
4,000 | |||||
| 2,070 |
Range Resources Corp |
160,052 | ||||||
| 376 |
* | Renewable Energy Group, Inc |
5,350 | |||||
| 1,056 |
* | Resolute Energy Corp |
8,427 | |||||
| 727 |
* | Rex Energy Corp |
12,781 | |||||
| 92 |
* | Rex Stores Corp |
2,647 | |||||
| 354 |
* | RigNet, Inc |
9,020 | |||||
| 760 |
* | Rosetta Resources, Inc |
32,315 | |||||
| 1,533 |
* | Rowan Cos plc |
52,229 | |||||
| 820 |
e | RPC, Inc |
11,324 | |||||
| 377 |
*,e | Sanchez Energy Corp |
8,656 | |||||
| 6,213 |
*,e | SandRidge Energy, Inc |
29,574 | |||||
52
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 17,436 |
Schlumberger Ltd |
$ | 1,249,464 | |||||
| 2,117 |
Scorpio Tankers, Inc |
19,011 | ||||||
| 272 |
e | SEACOR Holdings, Inc |
22,590 | |||||
| 4,540 |
* | Seadrill Ltd |
184,960 | |||||
| 517 |
SemGroup Corp |
27,846 | ||||||
| 678 |
Ship Finance International Ltd |
10,062 | ||||||
| 413 |
*,e | Solazyme, Inc |
4,840 | |||||
| 4,435 |
* | Southwestern Energy Co |
162,011 | |||||
| 8,728 |
Spectra Energy Corp |
300,767 | ||||||
| 844 |
St. Mary Land & Exploration Co |
50,623 | ||||||
| 661 |
* | Stone Energy Corp |
14,562 | |||||
| 2,001 |
* | Superior Energy Services |
51,906 | |||||
| 652 |
* | Swift Energy Co |
7,817 | |||||
| 1,246 |
* | Synergy Resources Corp |
9,121 | |||||
| 467 |
Targa Resources Investments, Inc |
30,042 | ||||||
| 480 |
e | Teekay Corp |
19,502 | |||||
| 800 |
e | Teekay Tankers Ltd (Class A) |
2,104 | |||||
| 746 |
* | Tesco Corp |
9,885 | |||||
| 1,780 |
Tesoro Corp |
93,130 | ||||||
| 1,305 |
* | Tetra Technologies, Inc |
13,389 | |||||
| 784 |
TGC Industries, Inc |
6,444 | ||||||
| 645 |
Tidewater, Inc |
36,746 | ||||||
| 1,272 |
* | Triangle Petroleum Corp |
8,917 | |||||
| 2,005 |
*,e | Ultra Petroleum Corp |
39,739 | |||||
| 615 |
* | Unit Corp |
26,187 | |||||
| 1,254 |
*,e | Uranium Energy Corp |
2,245 | |||||
| 1,418 |
* | Vaalco Energy, Inc |
8,111 | |||||
| 7,182 |
Valero Energy Corp |
249,718 | ||||||
| 5,036 |
* | Vantage Drilling Co |
10,273 | |||||
| 455 |
W&T Offshore, Inc |
6,502 | ||||||
| 2,335 |
* | Warren Resources, Inc |
5,954 | |||||
| 714 |
e | Western Refining, Inc |
20,042 | |||||
| 125 |
* | Westmoreland Coal Co |
1,404 | |||||
| 1,492 |
* | Whiting Petroleum Corp |
68,766 | |||||
| 1,032 |
* | Willbros Group, Inc |
6,336 | |||||
| 8,826 |
Williams Cos, Inc |
286,580 | ||||||
| 997 |
World Fuel Services Corp |
39,860 | ||||||
| 2,575 |
* | WPX Energy, Inc |
48,771 | |||||
| 2,938 |
*,e | ZaZa Energy Corp |
3,526 | |||||
|
|
|
|||||||
| TOTAL ENERGY |
22,240,716 | |||||||
|
|
|
|||||||
| FOOD & STAPLES RETAILING - 2.0% |
| |||||||
| 207 |
Andersons, Inc |
11,010 | ||||||
| 15 |
Arden Group, Inc (Class A) |
1,656 | ||||||
| 496 |
Casey’s General Stores, Inc |
29,839 | ||||||
| 300 |
* | Chefs’ Warehouse Holdings, Inc |
5,160 | |||||
| 5,723 |
Costco Wholesale Corp |
632,792 | ||||||
| 16,058 |
CVS Corp |
918,196 | ||||||
| 205 |
* | Fairway Group Holdings Corp |
4,955 | |||||
| 538 |
* | Fresh Market, Inc |
26,749 | |||||
| 610 |
Harris Teeter Supermarkets, Inc |
28,585 | ||||||
| 100 |
Ingles Markets, Inc (Class A) |
2,525 | ||||||
| 6,823 |
Kroger Co |
235,666 | ||||||
| 180 |
Nash Finch Co |
3,962 | ||||||
| 95 |
*,e | Natural Grocers by Vitamin C |
2,945 | |||||
| 248 |
* | Pantry, Inc |
3,021 | |||||
| 231 |
Pricesmart, Inc |
20,243 | ||||||
| 9,558 |
*,e | Rite Aid Corp |
27,336 | |||||
| 245 |
e | Roundy’s, Inc |
2,041 | |||||
| 3,058 |
Safeway, Inc |
72,352 | ||||||
| 217 |
Spartan Stores, Inc |
4,002 | ||||||
| 2,809 |
*,e | Supervalu, Inc |
17,472 | |||||
| 238 |
* | Susser Holdings Corp |
11,395 | |||||
| 7,758 |
Sysco Corp |
265,013 | ||||||
| 668 |
* | United Natural Foods, Inc |
36,065 | |||||
53
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 77 |
Village Super Market (Class A) |
$ | 2,548 | |||||
| 12,378 |
Walgreen Co |
547,108 | ||||||
| 21,120 |
Wal-Mart Stores, Inc |
1,573,229 | ||||||
| 228 |
Weis Markets, Inc |
10,276 | ||||||
| 4,865 |
Whole Foods Market, Inc |
250,450 | ||||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
4,746,591 | |||||||
|
|
|
|||||||
| FOOD, BEVERAGE & TOBACCO - 5.0% |
| |||||||
| 100 |
Alico, Inc |
4,011 | ||||||
| 2,325 |
* | Alliance One International, Inc |
8,835 | |||||
| 26,341 |
Altria Group, Inc |
921,672 | ||||||
| 178 |
*,e | Annie’s, Inc |
7,608 | |||||
| 8,585 |
Archer Daniels Midland Co |
291,117 | ||||||
| 743 |
B&G Foods, Inc (Class A) |
25,299 | ||||||
| 2,097 |
Beam, Inc |
132,342 | ||||||
| 100 |
*,e | Boston Beer Co, Inc (Class A) |
17,064 | |||||
| 718 |
*,e | Boulder Brands, Inc |
8,652 | |||||
| 1,968 |
Brown-Forman Corp (Class B) |
132,938 | ||||||
| 1,909 |
Bunge Ltd |
135,100 | ||||||
| 125 |
e | Calavo Growers, Inc |
3,399 | |||||
| 200 |
Cal-Maine Foods, Inc |
9,302 | ||||||
| 2,303 |
Campbell Soup Co |
103,151 | ||||||
| 536 |
* | Chiquita Brands International, Inc |
5,853 | |||||
| 77 |
Coca-Cola Bottling Co Consolidated |
4,709 | ||||||
| 50,165 |
Coca-Cola Co |
2,012,118 | ||||||
| 3,596 |
Coca-Cola Enterprises, Inc |
126,435 | ||||||
| 5,396 |
ConAgra Foods, Inc |
188,482 | ||||||
| 1,990 |
* | Constellation Brands, Inc (Class A) |
103,719 | |||||
| 1,454 |
* | Darling International, Inc |
27,132 | |||||
| 2,340 |
* | Dean Foods Co |
23,447 | |||||
| 262 |
*,e | Diamond Foods, Inc |
5,437 | |||||
| 669 |
* | Dole Food Co, Inc |
8,530 | |||||
| 2,677 |
Dr Pepper Snapple Group, Inc |
122,955 | ||||||
| 200 |
* | Farmer Bros Co |
2,812 | |||||
| 2,327 |
Flowers Foods, Inc |
51,299 | ||||||
| 603 |
Fresh Del Monte Produce, Inc |
16,812 | ||||||
| 8,411 |
General Mills, Inc |
408,186 | ||||||
| 1,958 |
*,e | Green Mountain Coffee Roasters, Inc |
146,967 | |||||
| 38 |
Griffin Land & Nurseries, Inc (Class A) |
1,084 | ||||||
| 490 |
* | Hain Celestial Group, Inc |
31,835 | |||||
| 1,967 |
Hershey Co |
175,614 | ||||||
| 1,613 |
Hillshire Brands Co |
53,358 | ||||||
| 1,774 |
Hormel Foods Corp |
68,441 | ||||||
| 1,023 |
Ingredion, Inc |
67,129 | ||||||
| 170 |
* | Inventure Foods, Inc |
1,421 | |||||
| 258 |
J&J Snack Foods Corp |
20,072 | ||||||
| 1,408 |
J.M. Smucker Co |
145,235 | ||||||
| 100 |
John B. Sanfilippo & Son, Inc |
2,016 | ||||||
| 3,385 |
Kellogg Co |
217,419 | ||||||
| 7,801 |
Kraft Foods Group, Inc |
435,842 | ||||||
| 260 |
Lancaster Colony Corp |
20,277 | ||||||
| 591 |
Lance, Inc |
16,790 | ||||||
| 101 |
Limoneira Co |
2,094 | ||||||
| 4,952 |
Lorillard, Inc |
216,303 | ||||||
| 1,734 |
McCormick & Co, Inc |
122,004 | ||||||
| 2,651 |
Mead Johnson Nutrition Co |
210,039 | ||||||
| 1,834 |
Molson Coors Brewing Co (Class B) |
87,775 | ||||||
| 23,404 |
Mondelez International, Inc |
667,716 | ||||||
| 1,768 |
* | Monster Beverage Corp |
107,441 | |||||
| 129 |
National Beverage Corp |
2,254 | ||||||
| 245 |
* | Omega Protein Corp |
2,200 | |||||
| 20,281 |
PepsiCo, Inc |
1,658,783 | ||||||
| 21,451 |
Philip Morris International, Inc |
1,858,086 | ||||||
| 707 |
* | Pilgrim’s Pride Corp |
10,563 | |||||
| 437 |
Pinnacle Foods, Inc |
10,554 | ||||||
54
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 430 |
* | Post Holdings, Inc |
$ | 18,774 | ||||
| 4,133 |
Reynolds American, Inc |
199,913 | ||||||
| 339 |
Sanderson Farms, Inc |
22,516 | ||||||
| 4 |
Seaboard Corp |
10,832 | ||||||
| 232 |
* | Seneca Foods Corp |
7,118 | |||||
| 1,827 |
* | Smithfield Foods, Inc |
59,834 | |||||
| 215 |
*,e | Synutra International, Inc |
1,094 | |||||
| 412 |
e | Tootsie Roll Industries, Inc |
13,093 | |||||
| 511 |
* | TreeHouse Foods, Inc |
33,491 | |||||
| 3,645 |
Tyson Foods, Inc (Class A) |
93,604 | ||||||
| 306 |
e | Universal Corp |
17,702 | |||||
| 836 |
e | Vector Group Ltd |
13,560 | |||||
| 1,817 |
*,e | WhiteWave Foods Co (Class A) |
29,526 | |||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
11,788,785 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 4.5% |
| |||||||
| 247 |
Abaxis, Inc |
11,735 | ||||||
| 20,448 |
Abbott Laboratories |
713,226 | ||||||
| 400 |
*,e | Abiomed, Inc |
8,624 | |||||
| 465 |
* | Acadia Healthcare Co, Inc |
15,378 | |||||
| 716 |
*,e | Accretive Health, Inc |
7,740 | |||||
| 682 |
*,e | Accuray, Inc |
3,915 | |||||
| 4,961 |
Aetna, Inc |
315,222 | ||||||
| 489 |
Air Methods Corp |
16,567 | ||||||
| 910 |
* | Align Technology, Inc |
33,706 | |||||
| 2,366 |
* | Allscripts Healthcare Solutions, Inc |
30,616 | |||||
| 72 |
Almost Family, Inc |
1,368 | ||||||
| 620 |
* | Alphatec Holdings, Inc |
1,271 | |||||
| 341 |
* | Amedisys, Inc |
3,962 | |||||
| 3,027 |
AmerisourceBergen Corp |
168,997 | ||||||
| 602 |
* | AMN Healthcare Services, Inc |
8,621 | |||||
| 451 |
* | Amsurg Corp |
15,830 | |||||
| 150 |
Analogic Corp |
10,925 | ||||||
| 275 |
* | Angiodynamics, Inc |
3,102 | |||||
| 148 |
* | Anika Therapeutics, Inc |
2,516 | |||||
| 2,094 |
*,e | Antares Pharma, Inc |
8,711 | |||||
| 325 |
* | Arthrocare Corp |
11,222 | |||||
| 264 |
Assisted Living Concepts, Inc (A Shares) |
3,157 | ||||||
| 481 |
*,e | athenahealth, Inc |
40,750 | |||||
| 170 |
* | AtriCure, Inc |
1,615 | |||||
| 18 |
Atrion Corp |
3,937 | ||||||
| 1,086 |
Bard (C.R.), Inc |
118,026 | ||||||
| 7,088 |
Baxter International, Inc |
490,986 | ||||||
| 2,593 |
Becton Dickinson & Co |
256,266 | ||||||
| 412 |
*,e | Bio-Reference Labs, Inc |
11,845 | |||||
| 763 |
* | BioScrip, Inc |
12,590 | |||||
| 17,865 |
* | Boston Scientific Corp |
165,609 | |||||
| 1,300 |
* | Brookdale Senior Living, Inc |
34,372 | |||||
| 219 |
Cantel Medical Corp |
7,418 | ||||||
| 517 |
* | Capital Senior Living Corp |
12,356 | |||||
| 4,480 |
Cardinal Health, Inc |
211,456 | ||||||
| 280 |
* | Cardiovascular Systems, Inc |
5,936 | |||||
| 2,866 |
* | CareFusion Corp |
105,612 | |||||
| 2,701 |
* | Catamaran Corp |
131,593 | |||||
| 707 |
* | Centene Corp |
37,089 | |||||
| 1,959 |
* | Cerner Corp |
188,240 | |||||
| 449 |
*,e | Cerus Corp |
1,985 | |||||
| 281 |
e | Chemed Corp |
20,353 | |||||
| 128 |
* | Chindex International, Inc |
2,076 | |||||
| 3,694 |
Cigna Corp |
267,778 | ||||||
| 1,183 |
Community Health Systems, Inc |
55,459 | ||||||
| 185 |
Computer Programs & Systems, Inc |
9,091 | ||||||
| 450 |
Conmed Corp |
14,058 | ||||||
| 659 |
Cooper Cos, Inc |
78,454 | ||||||
| 180 |
* | Corvel Corp |
5,269 | |||||
55
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 6,243 |
Covidien plc |
$ | 392,310 | |||||
| 296 |
* | Cross Country Healthcare, Inc |
1,527 | |||||
| 253 |
CryoLife, Inc |
1,584 | ||||||
| 327 |
* | Cyberonics, Inc |
16,991 | |||||
| 141 |
* | Cynosure, Inc (Class A) |
3,673 | |||||
| 1,187 |
* | DaVita, Inc |
143,390 | |||||
| 1,881 |
Dentsply International, Inc |
77,046 | ||||||
| 120 |
*,e | Derma Sciences, Inc |
1,602 | |||||
| 874 |
* | DexCom, Inc |
19,621 | |||||
| 1,486 |
* | Edwards Lifesciences Corp |
99,859 | |||||
| 524 |
* | Emeritus Corp |
12,146 | |||||
| 697 |
* | Endologix, Inc |
9,256 | |||||
| 270 |
Ensign Group, Inc |
9,509 | ||||||
| 78 |
* | Exactech, Inc |
1,540 | |||||
| 338 |
* | ExamWorks Group, Inc |
7,176 | |||||
| 10,758 |
* | Express Scripts Holding Co |
663,661 | |||||
| 374 |
* | Five Star Quality Care, Inc |
2,098 | |||||
| 389 |
* | GenMark Diagnostics, Inc |
4,022 | |||||
| 456 |
* | Gentiva Health Services, Inc |
4,542 | |||||
| 717 |
* | Globus Medical, Inc |
12,089 | |||||
| 269 |
* | Greatbatch, Inc |
8,821 | |||||
| 720 |
* | Haemonetics Corp |
29,772 | |||||
| 414 |
* | Hanger Orthopedic Group, Inc |
13,095 | |||||
| 3,421 |
HCA Holdings, Inc |
123,361 | ||||||
| 3,375 |
* | Health Management Associates, Inc (Class A) |
53,055 | |||||
| 1,061 |
* | Health Net, Inc |
33,761 | |||||
| 1,191 |
* | Healthsouth Corp |
34,301 | |||||
| 190 |
* | HealthStream, Inc |
4,811 | |||||
| 402 |
* | Healthways, Inc |
6,987 | |||||
| 241 |
*,e | HeartWare International, Inc |
22,922 | |||||
| 1,198 |
* | Henry Schein, Inc |
114,708 | |||||
| 836 |
Hill-Rom Holdings, Inc |
28,156 | ||||||
| 1,092 |
* | HMS Holdings Corp |
25,444 | |||||
| 3,527 |
* | Hologic, Inc |
68,071 | |||||
| 2,092 |
Humana, Inc |
176,523 | ||||||
| 239 |
* | ICU Medical, Inc |
17,222 | |||||
| 720 |
* | Idexx Laboratories, Inc |
64,642 | |||||
| 702 |
* | Insulet Corp |
22,050 | |||||
| 289 |
* | Integra LifeSciences Holdings Corp |
10,586 | |||||
| 523 |
* | Intuitive Surgical, Inc |
264,941 | |||||
| 316 |
Invacare Corp |
4,538 | ||||||
| 1,041 |
* | Inverness Medical Innovations, Inc |
25,505 | |||||
| 220 |
* | IPC The Hospitalist Co, Inc |
11,299 | |||||
| 613 |
* | Kindred Healthcare, Inc |
8,049 | |||||
| 1,218 |
* | Laboratory Corp of America Holdings |
121,922 | |||||
| 174 |
Landauer, Inc |
8,406 | ||||||
| 267 |
* | LHC Group, Inc |
5,228 | |||||
| 654 |
* | LifePoint Hospitals, Inc |
31,941 | |||||
| 405 |
* | Magellan Health Services, Inc |
22,712 | |||||
| 397 |
*,e | MAKO Surgical Corp |
4,784 | |||||
| 611 |
Masimo Corp |
12,953 | ||||||
| 2,972 |
McKesson Corp |
340,294 | ||||||
| 746 |
* | MedAssets, Inc |
13,234 | |||||
| 349 |
* | Medidata Solutions, Inc |
27,030 | |||||
| 13,339 |
Medtronic, Inc |
686,558 | ||||||
| 1,254 |
*,e | Merge Healthcare, Inc |
4,514 | |||||
| 489 |
e | Meridian Bioscience, Inc |
10,514 | |||||
| 538 |
* | Merit Medical Systems, Inc |
5,999 | |||||
| 349 |
* | Molina Healthcare, Inc |
12,976 | |||||
| 161 |
* | MWI Veterinary Supply, Inc |
19,842 | |||||
| 212 |
National Healthcare Corp |
10,134 | ||||||
| 316 |
* | Natus Medical, Inc |
4,313 | |||||
| 301 |
* | Neogen Corp |
16,724 | |||||
| 1,084 |
*,e | Neoprobe Corp |
2,894 | |||||
| 581 |
* | NuVasive, Inc |
14,403 | |||||
| 742 |
* | NxStage Medical, Inc |
10,596 | |||||
56
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,375 |
Omnicare, Inc |
$ | 65,601 | |||||
| 387 |
* | Omnicell, Inc |
7,953 | |||||
| 609 |
* | OraSure Technologies, Inc |
2,363 | |||||
| 239 |
* | Orthofix International NV |
6,429 | |||||
| 864 |
e | Owens & Minor, Inc |
29,229 | |||||
| 1,289 |
Patterson Cos, Inc |
48,466 | ||||||
| 662 |
* | Pediatrix Medical Group, Inc |
60,626 | |||||
| 373 |
* | PharMerica Corp |
5,170 | |||||
| 164 |
*,e | PhotoMedex, Inc |
2,614 | |||||
| 97 |
* | Providence Service Corp |
2,822 | |||||
| 452 |
Quality Systems, Inc |
8,457 | ||||||
| 2,072 |
Quest Diagnostics, Inc |
125,625 | ||||||
| 333 |
*,e | Quidel Corp |
8,501 | |||||
| 1,903 |
e | Resmed, Inc |
85,882 | |||||
| 130 |
* | Rochester Medical Corp |
1,915 | |||||
| 198 |
*,e | Rockwell Medical Technologies, Inc |
715 | |||||
| 611 |
* | RTI Biologics, Inc |
2,297 | |||||
| 599 |
Select Medical Holdings Corp |
4,912 | ||||||
| 694 |
* | Sirona Dental Systems, Inc |
45,721 | |||||
| 246 |
* | Skilled Healthcare Group, Inc (Class A) |
1,643 | |||||
| 685 |
* | Solta Medical, Inc |
1,562 | |||||
| 526 |
* | Spectranetics Corp |
9,826 | |||||
| 3,753 |
St. Jude Medical, Inc |
171,249 | ||||||
| 407 |
* | Staar Surgical Co |
4,131 | |||||
| 745 |
STERIS Corp |
31,946 | ||||||
| 4,353 |
Stryker Corp |
281,552 | ||||||
| 147 |
* | SurModics, Inc |
2,941 | |||||
| 376 |
* | Symmetry Medical, Inc |
3,166 | |||||
| 903 |
* | Team Health Holdings, Inc |
37,086 | |||||
| 343 |
* | TearLab Corp |
3,643 | |||||
| 519 |
Teleflex, Inc |
40,217 | ||||||
| 1,361 |
* | Tenet Healthcare Corp |
62,742 | |||||
| 748 |
* | Thoratec Corp |
23,420 | |||||
| 348 |
* | Tornier BV |
6,090 | |||||
| 246 |
* | Triple-S Management Corp (Class B) |
5,282 | |||||
| 584 |
*,e | Unilife Corp |
1,851 | |||||
| 13,377 |
UnitedHealth Group, Inc |
875,926 | ||||||
| 417 |
Universal American Corp |
3,707 | ||||||
| 1,161 |
Universal Health Services, Inc (Class B) |
77,741 | ||||||
| 133 |
US Physical Therapy, Inc |
3,676 | ||||||
| 40 |
Utah Medical Products, Inc |
2,172 | ||||||
| 376 |
* | Vanguard Health Systems, Inc |
7,798 | |||||
| 1,463 |
* | Varian Medical Systems, Inc |
98,679 | |||||
| 200 |
* | Vascular Solutions, Inc |
2,942 | |||||
| 1,163 |
* | VCA Antech, Inc |
30,343 | |||||
| 275 |
* | Vocera Communications, Inc |
4,042 | |||||
| 677 |
* | Volcano Corp |
12,274 | |||||
| 530 |
* | WellCare Health Plans, Inc |
29,442 | |||||
| 3,948 |
WellPoint, Inc |
323,104 | ||||||
| 490 |
West Pharmaceutical Services, Inc |
34,427 | ||||||
| 456 |
* | Wright Medical Group, Inc |
11,952 | |||||
| 2,255 |
Zimmer Holdings, Inc |
168,990 | ||||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
10,621,723 | |||||||
|
|
|
|||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 2.0% |
| |||||||
| 5,566 |
Avon Products, Inc |
117,053 | ||||||
| 798 |
* | Central Garden and Pet Co (Class A) |
5,506 | |||||
| 1,814 |
Church & Dwight Co, Inc |
111,942 | ||||||
| 1,657 |
Clorox Co |
137,763 | ||||||
| 12,231 |
Colgate-Palmolive Co |
700,714 | ||||||
| 350 |
* | Elizabeth Arden, Inc |
15,775 | |||||
| 830 |
Energizer Holdings, Inc |
83,423 | ||||||
| 3,015 |
Estee Lauder Cos (Class A) |
198,297 | ||||||
| 204 |
Female Health Co |
2,011 | ||||||
| 532 |
* | Harbinger Group, Inc |
4,011 | |||||
57
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,140 |
e | Herbalife Ltd |
$ | 51,460 | ||||
| 294 |
Inter Parfums, Inc |
8,385 | ||||||
| 5,045 |
Kimberly-Clark Corp |
490,071 | ||||||
| 1,517 |
* | Lifevantage Corp |
3,519 | |||||
| 152 |
* | Medifast, Inc |
3,916 | |||||
| 140 |
Nature’s Sunshine Products, Inc |
2,289 | ||||||
| 756 |
Nu Skin Enterprises, Inc (Class A) |
46,207 | ||||||
| 127 |
Nutraceutical International Corp |
2,596 | ||||||
| 63 |
Oil-Dri Corp of America |
1,731 | ||||||
| 70 |
Orchids Paper Products Co |
1,837 | ||||||
| 621 |
* | Prestige Brands Holdings, Inc |
18,096 | |||||
| 35,948 |
Procter & Gamble Co |
2,767,636 | ||||||
| 238 |
* | Revlon, Inc (Class A) |
5,250 | |||||
| 291 |
Spectrum Brands, Inc |
16,549 | ||||||
| 5,236 |
*,e | Star Scientific, Inc |
7,278 | |||||
| 92 |
*,e | USANA Health Sciences, Inc |
6,659 | |||||
| 314 |
WD-40 Co |
17,107 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
4,827,081 | |||||||
|
|
|
|||||||
| INSURANCE - 4.3% |
| |||||||
| 4,411 |
ACE Ltd |
394,696 | ||||||
| 6,116 |
Aflac, Inc |
355,462 | ||||||
| 220 |
* | Alleghany Corp |
84,328 | |||||
| 453 |
Allied World Assurance Co Holdings Ltd |
41,454 | ||||||
| 6,149 |
Allstate Corp |
295,890 | ||||||
| 587 |
* | AMBAC Financial Group, Inc |
13,988 | |||||
| 836 |
American Equity Investment Life Holding Co |
13,125 | ||||||
| 1,020 |
American Financial Group, Inc |
49,888 | ||||||
| 19,357 |
* | American International Group, Inc |
865,258 | |||||
| 85 |
American National Insurance Co |
8,455 | ||||||
| 118 |
* | American Safety Insurance Holdings Ltd |
3,416 | |||||
| 202 |
Amerisafe, Inc |
6,543 | ||||||
| 323 |
e | Amtrust Financial Services, Inc |
11,531 | |||||
| 4,088 |
Aon plc |
263,063 | ||||||
| 1,780 |
* | Arch Capital Group Ltd |
91,510 | |||||
| 411 |
Argo Group International Holdings Ltd |
17,422 | ||||||
| 1,660 |
Arthur J. Gallagher & Co |
72,525 | ||||||
| 906 |
Aspen Insurance Holdings Ltd |
33,604 | ||||||
| 1,008 |
Assurant, Inc |
51,317 | ||||||
| 2,211 |
Assured Guaranty Ltd |
48,775 | ||||||
| 1,609 |
Axis Capital Holdings Ltd |
73,660 | ||||||
| 125 |
Baldwin & Lyons, Inc (Class B) |
3,035 | ||||||
| 23,603 |
* | Berkshire Hathaway, Inc (Class B) |
2,641,648 | |||||
| 1,536 |
Brown & Brown, Inc |
49,521 | ||||||
| 3,400 |
Chubb Corp |
287,810 | ||||||
| 2,143 |
Cincinnati Financial Corp |
98,364 | ||||||
| 387 |
*,e | Citizens, Inc (Class A) |
2,314 | |||||
| 303 |
CNA Financial Corp |
9,884 | ||||||
| 2,903 |
Conseco, Inc |
37,623 | ||||||
| 245 |
Crawford & Co (Class B) |
1,377 | ||||||
| 143 |
Donegal Group, Inc (Class A) |
1,998 | ||||||
| 80 |
Eastern Insurance Holdings, Inc |
1,500 | ||||||
| 280 |
* | eHealth, Inc |
6,362 | |||||
| 60 |
EMC Insurance Group, Inc |
1,576 | ||||||
| 620 |
Employers Holdings, Inc |
15,159 | ||||||
| 551 |
Endurance Specialty Holdings Ltd |
28,349 | ||||||
| 108 |
* | Enstar Group Ltd |
14,362 | |||||
| 363 |
Erie Indemnity Co (Class A) |
28,927 | ||||||
| 670 |
Everest Re Group Ltd |
85,934 | ||||||
| 155 |
FBL Financial Group, Inc (Class A) |
6,744 | ||||||
| 2,919 |
Fidelity National Title Group, Inc (Class A) |
69,501 | ||||||
| 1,423 |
First American Financial Corp |
31,363 | ||||||
| 6,368 |
* | Genworth Financial, Inc (Class A) |
72,659 | |||||
| 327 |
* | Greenlight Capital Re Ltd (Class A) |
8,021 | |||||
| 136 |
* | Hallmark Financial Services |
1,243 | |||||
58
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 539 |
Hanover Insurance Group, Inc |
$ | 26,373 | |||||
| 5,950 |
Hartford Financial Services Group, Inc |
183,974 | ||||||
| 1,326 |
HCC Insurance Holdings, Inc |
57,164 | ||||||
| 90 |
HCI Group, Inc |
2,765 | ||||||
| 808 |
* | Hilltop Holdings, Inc |
13,251 | |||||
| 467 |
Horace Mann Educators Corp |
11,385 | ||||||
| 205 |
Infinity Property & Casualty Corp |
12,251 | ||||||
| 20 |
Investors Title Co |
1,419 | ||||||
| 77 |
Kansas City Life Insurance Co |
2,947 | ||||||
| 614 |
Kemper Corp |
21,029 | ||||||
| 3,518 |
Lincoln National Corp |
128,301 | ||||||
| 3,940 |
Loews Corp |
174,936 | ||||||
| 553 |
Maiden Holdings Ltd |
6,205 | ||||||
| 177 |
* | Markel Corp |
93,270 | |||||
| 7,285 |
Marsh & McLennan Cos, Inc |
290,817 | ||||||
| 1,717 |
*,e | MBIA, Inc |
22,853 | |||||
| 694 |
Meadowbrook Insurance Group, Inc |
5,573 | ||||||
| 361 |
Mercury General Corp |
15,870 | ||||||
| 11,693 |
Metlife, Inc |
535,072 | ||||||
| 751 |
Montpelier Re Holdings Ltd |
18,782 | ||||||
| 667 |
* | National Financial Partners Corp |
16,882 | |||||
| 173 |
National Interstate Corp |
5,060 | ||||||
| 27 |
National Western Life Insurance Co (Class A) |
5,126 | ||||||
| 149 |
* | Navigators Group, Inc |
8,499 | |||||
| 3,288 |
Old Republic International Corp |
42,317 | ||||||
| 313 |
OneBeacon Insurance Group Ltd (Class A) |
4,532 | ||||||
| 756 |
PartnerRe Ltd |
68,463 | ||||||
| 83 |
* | Phoenix Cos, Inc |
3,569 | |||||
| 486 |
Platinum Underwriters Holdings Ltd |
27,809 | ||||||
| 747 |
Primerica, Inc |
27,968 | ||||||
| 3,879 |
Principal Financial Group |
145,269 | ||||||
| 800 |
ProAssurance Corp |
41,728 | ||||||
| 7,914 |
Progressive Corp |
201,174 | ||||||
| 1,036 |
Protective Life Corp |
39,793 | ||||||
| 6,062 |
Prudential Financial, Inc |
442,708 | ||||||
| 960 |
Reinsurance Group of America, Inc (Class A) |
66,346 | ||||||
| 583 |
RenaissanceRe Holdings Ltd |
50,599 | ||||||
| 268 |
RLI Corp |
20,478 | ||||||
| 200 |
Safety Insurance Group, Inc |
9,702 | ||||||
| 656 |
Selective Insurance Group, Inc |
15,101 | ||||||
| 628 |
Stancorp Financial Group, Inc |
31,029 | ||||||
| 200 |
State Auto Financial Corp |
3,634 | ||||||
| 200 |
Stewart Information Services Corp |
5,238 | ||||||
| 1,030 |
Symetra Financial Corp |
16,470 | ||||||
| 1,281 |
Torchmark Corp |
83,444 | ||||||
| 754 |
Tower Group International Ltd |
15,465 | ||||||
| 4,936 |
Travelers Cos, Inc |
394,485 | ||||||
| 257 |
* | United America Indemnity Ltd |
6,052 | |||||
| 234 |
United Fire & Casualty Co |
5,810 | ||||||
| 384 |
Universal Insurance Holdings, Inc |
2,719 | ||||||
| 3,525 |
UnumProvident Corp |
103,529 | ||||||
| 1,352 |
Validus Holdings Ltd |
48,834 | ||||||
| 1,419 |
W.R. Berkley Corp |
57,980 | ||||||
| 78 |
White Mountains Insurance Group Ltd |
44,845 | ||||||
| 3,888 |
XL Capital Ltd |
117,884 | ||||||
|
|
|
|||||||
| TOTAL INSURANCE |
10,105,962 | |||||||
|
|
|
|||||||
| MATERIALS - 3.6% |
| |||||||
| 412 |
A. Schulman, Inc |
11,050 | ||||||
| 242 |
* | ADA-ES, Inc |
10,193 | |||||
| 78 |
* | AEP Industries, Inc |
5,802 | |||||
| 2,723 |
Air Products & Chemicals, Inc |
249,345 | ||||||
| 859 |
Airgas, Inc |
82,000 | ||||||
| 2,596 |
*,e | AK Steel Holding Corp |
7,892 | |||||
| 1,140 |
Albemarle Corp |
71,011 | ||||||
59
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 13,512 |
Alcoa, Inc |
$ | 105,664 | |||||
| 1,401 |
Allegheny Technologies, Inc |
36,860 | ||||||
| 1,470 |
* | Allied Nevada Gold Corp |
9,526 | |||||
| 292 |
AMCOL International Corp |
9,253 | ||||||
| 350 |
American Vanguard Corp |
8,200 | ||||||
| 884 |
Aptargroup, Inc |
48,806 | ||||||
| 254 |
* | Arabian American Development Co |
2,210 | |||||
| 1,042 |
Ashland, Inc |
87,007 | ||||||
| 932 |
Axiall Corp |
39,685 | ||||||
| 437 |
Balchem Corp |
19,556 | ||||||
| 1,951 |
Ball Corp |
81,044 | ||||||
| 1,348 |
Bemis Co, Inc |
52,761 | ||||||
| 714 |
* | Berry Plastics Group, Inc |
15,758 | |||||
| 182 |
* | Boise Cascade Co |
4,625 | |||||
| 1,302 |
Boise, Inc |
11,119 | ||||||
| 300 |
Brush Engineered Materials, Inc |
8,127 | ||||||
| 520 |
Buckeye Technologies, Inc |
19,261 | ||||||
| 793 |
Cabot Corp |
29,674 | ||||||
| 730 |
* | Calgon Carbon Corp |
12,176 | |||||
| 574 |
Carpenter Technology Corp |
25,870 | ||||||
| 200 |
*,e | Castle (A.M.) & Co |
3,152 | |||||
| 2,073 |
Celanese Corp (Series A) |
92,870 | ||||||
| 742 |
* | Century Aluminum Co |
6,886 | |||||
| 777 |
CF Industries Holdings, Inc |
133,255 | ||||||
| 1,194 |
* | Chemtura |
24,238 | |||||
| 316 |
* | Clearwater Paper Corp |
14,871 | |||||
| 2,110 |
e | Cliffs Natural Resources, Inc |
34,287 | |||||
| 1,418 |
* | Coeur d'Alene Mines Corp |
18,859 | |||||
| 1,538 |
Commercial Metals Co |
22,716 | ||||||
| 452 |
Compass Minerals International, Inc |
38,208 | ||||||
| 1,888 |
* | Crown Holdings, Inc |
77,653 | |||||
| 562 |
Cytec Industries, Inc |
41,166 | ||||||
| 127 |
Deltic Timber Corp |
7,343 | ||||||
| 458 |
Domtar Corp |
30,457 | ||||||
| 15,804 |
Dow Chemical Co |
508,415 | ||||||
| 12,095 |
Du Pont (E.I.) de Nemours & Co |
634,987 | ||||||
| 633 |
Eagle Materials, Inc |
41,949 | ||||||
| 1,996 |
Eastman Chemical Co |
139,740 | ||||||
| 3,445 |
Ecolab, Inc |
293,480 | ||||||
| 1,134 |
* | Ferro Corp |
7,881 | |||||
| 835 |
* | Flotek Industries, Inc |
14,980 | |||||
| 1,752 |
FMC Corp |
106,977 | ||||||
| 13,520 |
Freeport-McMoRan Copper & Gold, Inc (Class B) |
373,287 | ||||||
| 235 |
FutureFuel Corp |
3,330 | ||||||
| 1,260 |
*,e | General Moly, Inc |
2,356 | |||||
| 553 |
Glatfelter |
13,880 | ||||||
| 743 |
Globe Specialty Metals, Inc |
8,076 | ||||||
| 351 |
e | Gold Resource Corp |
3,057 | |||||
| 2,745 |
* | Graphic Packaging Holding Co |
21,246 | |||||
| 417 |
Greif, Inc (Class A) |
21,963 | ||||||
| 723 |
H.B. Fuller Co |
27,337 | ||||||
| 107 |
Hawkins, Inc |
4,215 | ||||||
| 128 |
Haynes International, Inc |
6,127 | ||||||
| 770 |
* | Headwaters, Inc |
6,807 | |||||
| 4,927 |
e | Hecla Mining Co |
14,682 | |||||
| 716 |
* | Horsehead Holding Corp |
9,172 | |||||
| 2,580 |
Huntsman Corp |
42,725 | ||||||
| 278 |
Innophos Holdings, Inc |
13,113 | ||||||
| 412 |
Innospec, Inc |
16,554 | ||||||
| 1,075 |
International Flavors & Fragrances, Inc |
80,797 | ||||||
| 5,745 |
International Paper Co |
254,561 | ||||||
| 650 |
e | Intrepid Potash, Inc |
12,382 | |||||
| 245 |
Kaiser Aluminum Corp |
15,175 | ||||||
| 603 |
Kapstone Paper and Packaging Corp |
24,229 | ||||||
| 75 |
KMG Chemicals, Inc |
1,582 | ||||||
60
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 239 |
Koppers Holdings, Inc |
$ | 9,125 | |||||
| 396 |
* | Kraton Polymers LLC |
8,395 | |||||
| 274 |
e | Kronos Worldwide, Inc |
4,450 | |||||
| 565 |
* | Landec Corp |
7,464 | |||||
| 1,743 |
* | Louisiana-Pacific Corp |
25,779 | |||||
| 229 |
* | LSB Industries, Inc |
6,964 | |||||
| 5,303 |
LyondellBasell Industries AF S.C.A |
351,377 | ||||||
| 604 |
Martin Marietta Materials, Inc |
59,446 | ||||||
| 2,273 |
MeadWestvaco Corp |
77,532 | ||||||
| 5,301 |
* | Midway Gold Corp |
4,999 | |||||
| 492 |
Minerals Technologies, Inc |
20,339 | ||||||
| 1,396 |
*,e | Molycorp, Inc |
8,655 | |||||
| 7,001 |
Monsanto Co |
691,699 | ||||||
| 3,881 |
Mosaic Co |
208,837 | ||||||
| 426 |
Myers Industries, Inc |
6,394 | ||||||
| 162 |
Neenah Paper, Inc |
5,147 | ||||||
| 129 |
e | NewMarket Corp |
33,870 | |||||
| 6,322 |
Newmont Mining Corp |
189,344 | ||||||
| 1,642 |
Noranda Aluminium Holding Corp |
5,304 | ||||||
| 4,128 |
Nucor Corp |
178,825 | ||||||
| 1,054 |
Olin Corp |
25,212 | ||||||
| 286 |
Olympic Steel, Inc |
7,007 | ||||||
| 346 |
* | OM Group, Inc |
10,698 | |||||
| 511 |
* | Omnova Solutions, Inc |
4,093 | |||||
| 2,097 |
* | Owens-Illinois, Inc |
58,276 | |||||
| 1,277 |
Packaging Corp of America |
62,522 | ||||||
| 3,632 |
*,e | Paramount Gold and Silver Corp |
4,322 | |||||
| 1,229 |
PolyOne Corp |
30,455 | ||||||
| 1,872 |
PPG Industries, Inc |
274,079 | ||||||
| 3,879 |
Praxair, Inc |
446,706 | ||||||
| 166 |
Quaker Chemical Corp |
10,294 | ||||||
| 985 |
Reliance Steel & Aluminum Co |
64,577 | ||||||
| 4,829 |
Rentech, Inc |
10,141 | ||||||
| 944 |
*,e | Resolute Forest Products |
12,432 | |||||
| 920 |
Rock-Tenn Co (Class A) |
91,890 | ||||||
| 1,021 |
Rockwood Holdings, Inc |
65,375 | ||||||
| 838 |
Royal Gold, Inc |
35,263 | ||||||
| 1,667 |
RPM International, Inc |
53,244 | ||||||
| 362 |
* | RTI International Metals, Inc |
10,031 | |||||
| 246 |
Schnitzer Steel Industries, Inc (Class A) |
5,751 | ||||||
| 442 |
Schweitzer-Mauduit International, Inc |
22,047 | ||||||
| 554 |
e | Scotts Miracle-Gro Co (Class A) |
26,764 | |||||
| 2,568 |
Sealed Air Corp |
61,504 | ||||||
| 694 |
Sensient Technologies Corp |
28,086 | ||||||
| 1,151 |
Sherwin-Williams Co |
203,267 | ||||||
| 1,590 |
Sigma-Aldrich Corp |
127,772 | ||||||
| 581 |
Silgan Holdings, Inc |
27,284 | ||||||
| 1,370 |
Sonoco Products Co |
47,361 | ||||||
| 2,137 |
Southern Copper Corp (NY) |
59,024 | ||||||
| 2,782 |
Steel Dynamics, Inc |
41,480 | ||||||
| 291 |
Stepan Co |
16,182 | ||||||
| 1,755 |
*,e | Stillwater Mining Co |
18,849 | |||||
| 798 |
* | SunCoke Energy, Inc |
11,188 | |||||
| 1,028 |
* | Tahoe Resources, Inc |
14,546 | |||||
| 209 |
* | Taminco Corp |
4,261 | |||||
| 298 |
*,e | Texas Industries, Inc |
19,412 | |||||
| 508 |
Tredegar Corp |
13,056 | ||||||
| 70 |
* | UFP Technologies, Inc |
1,371 | |||||
| 30 |
* | United States Lime & Minerals, Inc |
1,567 | |||||
| 1,888 |
e | United States Steel Corp |
33,097 | |||||
| 72 |
* | Universal Stainless & Alloy |
2,123 | |||||
| 179 |
* | US Concrete, Inc |
2,939 | |||||
| 280 |
e | US Silica Holdings Inc |
5,818 | |||||
| 1,192 |
Valspar Corp |
77,087 | ||||||
| 1,685 |
Vulcan Materials Co |
81,571 | ||||||
| 952 |
e | Walter Energy, Inc |
9,901 | |||||
61
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 784 |
Wausau Paper Corp |
$ | 8,938 | |||||
| 273 |
Westlake Chemical Corp |
26,320 | ||||||
| 735 |
Worthington Industries, Inc |
23,307 | ||||||
| 995 |
* | WR Grace & Co |
83,620 | |||||
| 260 |
Zep, Inc |
4,116 | ||||||
| 350 |
*,e | Zoltek Cos, Inc |
4,518 | |||||
|
|
|
|||||||
| TOTAL MATERIALS |
8,630,187 | |||||||
|
|
|
|||||||
| MEDIA - 3.7% |
| |||||||
| 790 |
* | AMC Networks, Inc |
51,674 | |||||
| 361 |
Arbitron, Inc |
16,768 | ||||||
| 60 |
Beasley Broadcasting Group, Inc |
503 | ||||||
| 1,359 |
Belo (A.H.) Corp (Class A) |
18,958 | ||||||
| 2,700 |
Cablevision Systems Corp (Class A) |
45,414 | ||||||
| 223 |
* | Carmike Cinemas, Inc |
4,317 | |||||
| 8,048 |
CBS Corp (Class B) |
393,306 | ||||||
| 1,543 |
* | Central European Media Enterprises Ltd (Class A) Nasdaq |
5,107 | |||||
| 857 |
* | Charter Communications, Inc |
106,139 | |||||
| 1,460 |
Cinemark Holdings, Inc |
40,763 | ||||||
| 400 |
Clear Channel Outdoor Holdings, Inc (Class A) |
2,984 | ||||||
| 34,415 |
Comcast Corp (Class A) |
1,441,300 | ||||||
| 200 |
*,e | Crown Media Holdings, Inc (Class A) |
494 | |||||
| 693 |
*,e | Cumulus Media, Inc (Class A) |
2,349 | |||||
| 10 |
* | Daily Journal Corp |
1,130 | |||||
| 219 |
* | Dex Media, Inc |
3,848 | |||||
| 300 |
*,e | Digital Generation, Inc |
2,211 | |||||
| 6,849 |
* | DIRECTV |
422,035 | |||||
| 3,193 |
* | Discovery Communications, Inc (Class A) |
246,532 | |||||
| 2,710 |
DISH Network Corp (Class A) |
115,229 | ||||||
| 943 |
*,e | DreamWorks Animation SKG, Inc (Class A) |
24,197 | |||||
| 285 |
* | Entercom Communications Corp (Class A) |
2,690 | |||||
| 1,561 |
Entravision Communications Corp (Class A) |
9,600 | ||||||
| 354 |
* | EW Scripps Co (Class A) |
5,515 | |||||
| 118 |
Fisher Communications, Inc |
4,847 | ||||||
| 3,009 |
Gannett Co, Inc |
73,600 | ||||||
| 137 |
* | Global Sources Ltd |
919 | |||||
| 649 |
* | Gray Television, Inc |
4,673 | |||||
| 700 |
Harte-Hanks, Inc |
6,020 | ||||||
| 5,693 |
Interpublic Group of Cos, Inc |
82,833 | ||||||
| 596 |
John Wiley & Sons, Inc (Class A) |
23,894 | ||||||
| 474 |
* | Journal Communications, Inc (Class A) |
3,550 | |||||
| 980 |
* | Lamar Advertising Co (Class A) |
42,532 | |||||
| 4,867 |
* | Liberty Global plc (Class A) |
360,547 | |||||
| 1,324 |
* | Liberty Media Corp |
167,830 | |||||
| 341 |
* | Lin TV Corp (Class A) |
5,217 | |||||
| 1,082 |
*,e | Lions Gate Entertainment Corp |
29,723 | |||||
| 1,699 |
* | Live Nation, Inc |
26,335 | |||||
| 171 |
Loral Space & Communications, Inc |
10,257 | ||||||
| 800 |
* | Madison Square Garden, Inc |
47,400 | |||||
| 239 |
e | Martha Stewart Living Omnimedia, Inc (Class A) |
576 | |||||
| 2,225 |
*,e | McClatchy Co (Class A) |
5,073 | |||||
| 3,609 |
McGraw-Hill Cos, Inc |
191,963 | ||||||
| 317 |
MDC Partners, Inc |
5,719 | ||||||
| 269 |
* | Media General, Inc (Class A) |
2,967 | |||||
| 426 |
e | Meredith Corp |
20,320 | |||||
| 303 |
Morningstar, Inc |
23,507 | ||||||
| 760 |
National CineMedia, Inc |
12,836 | ||||||
| 1,565 |
* | New York Times Co (Class A) |
17,309 | |||||
| 26,067 |
News Corp (Class A) |
849,784 | ||||||
| 330 |
Nexstar Broadcasting Group, Inc (Class A) |
11,702 | ||||||
| 3,402 |
Omnicom Group, Inc |
213,884 | ||||||
| 120 |
*,e | ReachLocal, Inc |
1,471 | |||||
| 210 |
* | Reading International, Inc |
1,336 | |||||
| 1,110 |
e | Regal Entertainment Group (Class A) |
19,869 | |||||
| 114 |
* | Rentrak Corp |
2,288 | |||||
62
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 53 |
Saga Communications, Inc |
$ | 2,433 | |||||
| 130 |
Salem Communications |
974 | ||||||
| 365 |
Scholastic Corp |
10,691 | ||||||
| 1,437 |
Scripps Networks Interactive (Class A) |
95,934 | ||||||
| 899 |
Sinclair Broadcast Group, Inc (Class A) |
26,413 | ||||||
| 40,787 |
e | Sirius XM Radio, Inc |
136,637 | |||||
| 1,521 |
* | Starz-Liberty Capital |
33,614 | |||||
| 4,900 |
Thomson Corp |
159,593 | ||||||
| 3,817 |
Time Warner Cable, Inc |
429,336 | ||||||
| 12,224 |
Time Warner, Inc |
706,792 | ||||||
| 601 |
e | Valassis Communications, Inc |
14,779 | |||||
| 6,362 |
Viacom, Inc (Class B) |
432,934 | ||||||
| 23,619 |
Walt Disney Co |
1,491,540 | ||||||
| 54 |
Washington Post Co (Class B) |
26,124 | ||||||
| 251 |
e | World Wrestling Entertainment, Inc (Class A) |
2,588 | |||||
|
|
|
|||||||
| TOTAL MEDIA |
8,804,226 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.8% |
| |||||||
| 20,778 |
AbbVie, Inc |
858,963 | ||||||
| 923 |
* | Acadia Pharmaceuticals, Inc |
16,752 | |||||
| 1,268 |
* | Achillion Pharmaceuticals, Inc |
10,372 | |||||
| 533 |
* | Acorda Therapeutics, Inc |
17,584 | |||||
| 1,749 |
* | Actavis, Inc |
220,759 | |||||
| 373 |
* | Aegerion Pharmaceuticals, Inc |
23,626 | |||||
| 766 |
* | Affymetrix, Inc |
3,401 | |||||
| 4,551 |
Agilent Technologies, Inc |
194,601 | ||||||
| 973 |
* | Akorn, Inc |
13,155 | |||||
| 309 |
* | Albany Molecular Research, Inc |
3,668 | |||||
| 2,617 |
* | Alexion Pharmaceuticals, Inc |
241,392 | |||||
| 1,659 |
* | Alkermes plc |
47,580 | |||||
| 3,873 |
Allergan, Inc |
326,262 | ||||||
| 729 |
* | Alnylam Pharmaceuticals, Inc |
22,606 | |||||
| 252 |
* | AMAG Pharmaceuticals, Inc |
5,607 | |||||
| 9,862 |
Amgen, Inc |
972,985 | ||||||
| 380 |
*,e | Amicus Therapeutics, Inc |
885 | |||||
| 250 |
*,e | Ampio Pharmaceuticals, Inc |
1,443 | |||||
| 3,077 |
*,e | Arena Pharmaceuticals, Inc |
23,693 | |||||
| 2,550 |
* | Ariad Pharmaceuticals, Inc |
44,600 | |||||
| 744 |
* | Arqule, Inc |
1,726 | |||||
| 1,535 |
* | Array Biopharma, Inc |
6,969 | |||||
| 703 |
* | Astex Pharmaceuticals |
2,889 | |||||
| 567 |
* | Auxilium Pharmaceuticals, Inc |
9,429 | |||||
| 1,563 |
*,e | AVANIR Pharmaceuticals, Inc |
7,190 | |||||
| 489 |
*,e | AVEO Pharmaceuticals, Inc |
1,223 | |||||
| 270 |
*,e | BioDelivery Sciences International, Inc |
1,096 | |||||
| 3,134 |
* | Biogen Idec, Inc |
674,437 | |||||
| 1,824 |
* | BioMarin Pharmaceuticals, Inc |
101,761 | |||||
| 268 |
* | Bio-Rad Laboratories, Inc (Class A) |
30,070 | |||||
| 252 |
*,e | Biotime, Inc |
998 | |||||
| 21,566 |
Bristol-Myers Squibb Co |
963,784 | ||||||
| 1,435 |
* | Bruker BioSciences Corp |
23,175 | |||||
| 814 |
* | Cadence Pharmaceuticals, Inc |
5,551 | |||||
| 396 |
* | Cambrex Corp |
5,532 | |||||
| 5,502 |
* | Celgene Corp |
643,239 | |||||
| 1,056 |
* | Celldex Therapeutics, Inc |
16,484 | |||||
| 835 |
* | Cepheid, Inc |
28,741 | |||||
| 716 |
* | Charles River Laboratories International, Inc |
29,377 | |||||
| 316 |
* | ChemoCentryx, Inc |
4,468 | |||||
| 115 |
* | Chimerix, Inc |
2,788 | |||||
| 250 |
* | Clovis Oncology, Inc |
16,745 | |||||
| 492 |
*,e | Corcept Therapeutics, Inc |
851 | |||||
| 170 |
*,e | Coronado Biosciences, Inc |
1,462 | |||||
| 746 |
* | Covance, Inc |
56,800 | |||||
| 857 |
* | Cubist Pharmaceuticals, Inc |
41,393 | |||||
| 754 |
*,e | Curis, Inc |
2,405 | |||||
63
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 327 |
* | Cytokinetics, Inc |
$ | 3,783 | ||||
| 335 |
* | Cytori Therapeutics, Inc |
771 | |||||
| 2,347 |
*,e | Dendreon Corp |
9,670 | |||||
| 567 |
* | Depomed, Inc |
3,181 | |||||
| 1,197 |
* | Dyax Corp |
4,142 | |||||
| 2,418 |
*,e | Dynavax Technologies Corp |
2,660 | |||||
| 13,009 |
Eli Lilly & Co |
639,002 | ||||||
| 553 |
* | Emergent Biosolutions, Inc |
7,974 | |||||
| 1,490 |
* | Endo Pharmaceuticals Holdings, Inc |
54,817 | |||||
| 379 |
* | Endocyte, Inc |
4,976 | |||||
| 551 |
Enzon Pharmaceuticals, Inc |
1,102 | ||||||
| 718 |
* | Exact Sciences Corp |
9,987 | |||||
| 2,025 |
*,e | Exelixis, Inc |
9,194 | |||||
| 259 |
* | Fluidigm Corp |
4,522 | |||||
| 3,567 |
* | Forest Laboratories, Inc |
146,247 | |||||
| 104 |
* | Furiex Pharmaceuticals Inc |
3,543 | |||||
| 270 |
* | Genomic Health, Inc |
8,562 | |||||
| 1,585 |
* | Geron Corp |
2,377 | |||||
| 20,100 |
* | Gilead Sciences, Inc |
1,029,321 | |||||
| 1,148 |
*,e | Halozyme Therapeutics, Inc |
9,115 | |||||
| 290 |
* | Harvard Bioscience, Inc |
1,372 | |||||
| 118 |
Hi-Tech Pharmacal Co, Inc |
3,918 | ||||||
| 2,169 |
* | Hospira, Inc |
83,094 | |||||
| 115 |
* | Hyperion Therapeutics, Inc |
2,530 | |||||
| 931 |
*,e | Idenix Pharmaceuticals, Inc |
3,361 | |||||
| 1,631 |
*,e | Illumina, Inc |
122,064 | |||||
| 977 |
*,e | Immunogen, Inc |
16,208 | |||||
| 1,809 |
*,e | Immunomedics, Inc |
9,841 | |||||
| 854 |
* | Impax Laboratories, Inc |
17,037 | |||||
| 1,345 |
*,e | Incyte Corp |
29,590 | |||||
| 629 |
*,e | Infinity Pharmaceuticals, Inc |
10,221 | |||||
| 367 |
* | Insmed, Inc |
4,389 | |||||
| 82 |
* | Intercept Pharmaceuticals, Inc |
3,677 | |||||
| 1,068 |
*,e | InterMune, Inc |
10,274 | |||||
| 1,231 |
*,e | Ironwood Pharmaceuticals, Inc |
12,248 | |||||
| 1,480 |
*,e | Isis Pharmaceuticals, Inc |
39,768 | |||||
| 681 |
* | Jazz Pharmaceuticals plc |
46,805 | |||||
| 36,839 |
Johnson & Johnson |
3,162,997 | ||||||
| 1,264 |
*,e | Keryx Biopharmaceuticals, Inc |
9,442 | |||||
| 133 |
* | KYTHERA Biopharmaceuticals, Inc |
3,598 | |||||
| 2,404 |
* | Lexicon Pharmaceuticals, Inc |
5,217 | |||||
| 2,273 |
* | Life Technologies Corp |
168,225 | |||||
| 230 |
* | Ligand Pharmaceuticals, Inc (Class B) |
8,607 | |||||
| 588 |
* | Luminex Corp |
12,119 | |||||
| 1,780 |
*,e | MannKind Corp |
11,570 | |||||
| 828 |
* | Medicines Co |
25,469 | |||||
| 983 |
* | Medivation, Inc |
48,364 | |||||
| 39,636 |
Merck & Co, Inc |
1,841,092 | ||||||
| 1,198 |
* | Merrimack Pharmaceuticals, Inc |
8,063 | |||||
| 413 |
* | Mettler-Toledo International, Inc |
83,096 | |||||
| 1,119 |
* | MiMedx Group, Inc |
7,900 | |||||
| 571 |
* | Momenta Pharmaceuticals, Inc |
8,599 | |||||
| 5,049 |
* | Mylan Laboratories, Inc |
156,670 | |||||
| 1,132 |
* | Myriad Genetics, Inc |
30,417 | |||||
| 1,670 |
* | Nektar Therapeutics |
19,289 | |||||
| 851 |
* | Neurocrine Biosciences, Inc |
11,386 | |||||
| 164 |
*,e | NewLink Genetics Corp |
3,234 | |||||
| 765 |
*,e | Novavax, Inc |
1,568 | |||||
| 1,471 |
* | NPS Pharmaceuticals, Inc |
22,212 | |||||
| 291 |
*,e | Omeros Corp |
1,467 | |||||
| 120 |
*,e | OncoGenex Pharmaceutical, Inc |
1,176 | |||||
| 993 |
* | Onyx Pharmaceuticals, Inc |
86,212 | |||||
| 1,859 |
*,e | Opko Health, Inc |
13,199 | |||||
| 571 |
*,e | Optimer Pharmaceuticals, Inc |
8,262 | |||||
| 1,247 |
*,e | Orexigen Therapeutics, Inc |
7,295 | |||||
| 170 |
*,e | Osiris Therapeutics, Inc |
1,712 | |||||
64
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 424 |
* | Pacific Biosciences of California, Inc |
$ | 1,068 | ||||
| 364 |
* | Pacira Pharmaceuticals, Inc |
10,556 | |||||
| 762 |
* | Parexel International Corp |
35,006 | |||||
| 1,837 |
e | PDL BioPharma, Inc |
14,182 | |||||
| 1,810 |
* | Peregrine Pharmaceuticals, Inc |
2,335 | |||||
| 1,408 |
PerkinElmer, Inc |
45,760 | ||||||
| 1,252 |
Perrigo Co |
151,492 | ||||||
| 89,192 |
Pfizer, Inc |
2,498,268 | ||||||
| 796 |
* | Pharmacyclics, Inc |
63,258 | |||||
| 131 |
* | Portola Pharmaceuticals, Inc |
3,219 | |||||
| 322 |
* | Pozen, Inc |
1,613 | |||||
| 300 |
* | Progenics Pharmaceuticals, Inc |
1,338 | |||||
| 292 |
* | Puma Biotechnology, Inc |
12,956 | |||||
| 3,176 |
* | Qiagen N.V. (NASDAQ) |
63,234 | |||||
| 698 |
e | Questcor Pharmaceuticals, Inc |
31,731 | |||||
| 343 |
* | Quintiles Transnational Holdings, Inc |
14,598 | |||||
| 716 |
*,e | Raptor Pharmaceutical Corp |
6,695 | |||||
| 1,058 |
* | Regeneron Pharmaceuticals, Inc |
237,923 | |||||
| 390 |
* | Repligen Corp |
3,214 | |||||
| 190 |
*,e | Repros Therapeutics, Inc |
3,506 | |||||
| 854 |
* | Rigel Pharmaceuticals, Inc |
2,852 | |||||
| 214 |
* | Sagent Pharmaceuticals |
4,490 | |||||
| 805 |
* | Salix Pharmaceuticals Ltd |
53,251 | |||||
| 410 |
*,e | Sangamo Biosciences, Inc |
3,202 | |||||
| 630 |
* | Santarus, Inc |
13,262 | |||||
| 420 |
* | Sarepta Therapeutics, Inc |
15,981 | |||||
| 716 |
* | Sciclone Pharmaceuticals, Inc |
3,551 | |||||
| 1,317 |
*,e | Seattle Genetics, Inc |
41,433 | |||||
| 1,228 |
*,e | Sequenom, Inc |
5,170 | |||||
| 310 |
*,e | SIGA Technologies, Inc |
880 | |||||
| 823 |
e | Spectrum Pharmaceuticals, Inc |
6,140 | |||||
| 119 |
* | Stemline Therapeutics, Inc |
2,837 | |||||
| 1,007 |
* | Sunesis Pharmaceuticals, Inc |
5,246 | |||||
| 40 |
*,e | Supernus Pharmaceuticals, Inc |
257 | |||||
| 222 |
* | Synageva BioPharma Corp |
9,324 | |||||
| 1,064 |
*,e | Synergy Pharmaceuticals, Inc |
4,596 | |||||
| 271 |
*,e | Synta Pharmaceuticals Corp |
1,352 | |||||
| 286 |
* | Targacept, Inc |
1,221 | |||||
| 554 |
Techne Corp |
38,270 | ||||||
| 173 |
* | TESARO, Inc |
5,664 | |||||
| 1,032 |
* | TherapeuticsMD, Inc |
3,127 | |||||
| 959 |
*,e | Theravance, Inc |
36,950 | |||||
| 4,714 |
Thermo Electron Corp |
398,946 | ||||||
| 582 |
*,e | Threshold Pharmaceuticals, Inc |
3,061 | |||||
| 499 |
* | Trius Therapeutics, Inc |
4,052 | |||||
| 657 |
* | United Therapeutics Corp |
43,244 | |||||
| 317 |
* | Vanda Pharmaceuticals, Inc |
2,561 | |||||
| 182 |
* | Verastem, Inc |
2,526 | |||||
| 2,902 |
* | Vertex Pharmaceuticals, Inc |
231,783 | |||||
| 423 |
*,e | Vical, Inc |
1,324 | |||||
| 931 |
* | Viropharma, Inc |
26,673 | |||||
| 1,259 |
*,e | Vivus, Inc |
15,838 | |||||
| 3,290 |
Warner Chilcott plc |
65,405 | ||||||
| 1,157 |
* | Waters Corp |
115,758 | |||||
| 288 |
* | Xenoport, Inc |
1,426 | |||||
| 852 |
*,e | XOMA Corp |
3,093 | |||||
| 599 |
*,e | ZIOPHARM Oncology, Inc |
1,258 | |||||
| 6,318 |
Zoetis Inc |
195,163 | ||||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
18,443,436 | |||||||
|
|
|
|||||||
| REAL ESTATE - 3.7% |
| |||||||
| 719 |
Acadia Realty Trust |
17,752 | ||||||
| 370 |
AG Mortgage Investment Trust |
6,960 | ||||||
| 171 |
Agree Realty Corp |
5,048 | ||||||
65
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 519 |
* | Alexander & Baldwin, Inc |
$ | 20,630 | ||||
| 24 |
Alexander’s, Inc |
7,049 | ||||||
| 939 |
Alexandria Real Estate Equities, Inc |
61,711 | ||||||
| 331 |
* | Altisource Residential Corp |
5,524 | |||||
| 393 |
American Assets Trust,Inc |
12,128 | ||||||
| 1,376 |
American Campus Communities, Inc |
55,948 | ||||||
| 5,197 |
American Capital Agency Corp |
119,479 | ||||||
| 836 |
American Capital Mortgage, Inc |
15,023 | ||||||
| 2,013 |
American Realty Capital Properties, Inc |
30,718 | ||||||
| 177 |
* | American Residential Properties, Inc |
3,044 | |||||
| 5,186 |
American Tower Corp |
379,460 | ||||||
| 207 |
AmREIT, Inc (Class B) |
4,003 | ||||||
| 12,431 |
Annaly Capital Management, Inc |
156,258 | ||||||
| 1,733 |
Anworth Mortgage Asset Corp |
9,705 | ||||||
| 1,892 |
Apartment Investment & Management Co (Class A) |
56,836 | ||||||
| 433 |
Apollo Commercial Real Estate Finance, Inc |
6,876 | ||||||
| 100 |
Ares Commercial Real Estate Corp |
1,281 | ||||||
| 244 |
Armada Hoffler Properties, Inc |
2,874 | ||||||
| 4,902 |
* | ARMOUR Residential REIT, Inc |
23,088 | |||||
| 1,263 |
Ashford Hospitality Trust, Inc |
14,461 | ||||||
| 672 |
Associated Estates Realty Corp |
10,806 | ||||||
| 110 |
* | AV Homes, Inc |
1,950 | |||||
| 1,676 |
AvalonBay Communities, Inc |
226,109 | ||||||
| 152 |
Aviv REIT, Inc |
3,844 | ||||||
| 2,448 |
BioMed Realty Trust, Inc |
49,523 | ||||||
| 1,989 |
Boston Properties, Inc |
209,780 | ||||||
| 2,048 |
Brandywine Realty Trust |
27,689 | ||||||
| 1,009 |
BRE Properties, Inc (Class A) |
50,470 | ||||||
| 1,079 |
Camden Property Trust |
74,602 | ||||||
| 853 |
Campus Crest Communities, Inc |
9,844 | ||||||
| 1,088 |
Capital Lease Funding, Inc |
9,183 | ||||||
| 1,194 |
Capstead Mortgage Corp |
14,447 | ||||||
| 2,043 |
CBL & Associates Properties, Inc |
43,761 | ||||||
| 3,667 |
* | CBRE Group, Inc |
85,661 | |||||
| 1,018 |
Cedar Shopping Centers, Inc |
5,273 | ||||||
| 3,262 |
* | Chambers Street Properties |
32,620 | |||||
| 105 |
Chatham Lodging Trust |
1,804 | ||||||
| 691 |
Chesapeake Lodging Trust |
14,366 | ||||||
| 13,015 |
Chimera Investment Corp |
39,045 | ||||||
| 1,235 |
Colonial Properties Trust |
29,788 | ||||||
| 844 |
Colony Financial, Inc |
16,787 | ||||||
| 77 |
Consolidated-Tomoka Land Co |
2,938 | ||||||
| 238 |
Coresite Realty |
7,571 | ||||||
| 1,194 |
Corporate Office Properties Trust |
30,447 | ||||||
| 1,394 |
Cousins Properties, Inc |
14,079 | ||||||
| 1,746 |
CubeSmart |
27,901 | ||||||
| 254 |
CyrusOne, Inc |
5,268 | ||||||
| 2,264 |
CYS Investments, Inc |
20,851 | ||||||
| 3,999 |
DCT Industrial Trust, Inc |
28,593 | ||||||
| 3,415 |
DDR Corp |
56,860 | ||||||
| 2,598 |
DiamondRock Hospitality Co |
24,213 | ||||||
| 1,659 |
Digital Realty Trust, Inc |
101,199 | ||||||
| 1,862 |
Douglas Emmett, Inc |
46,457 | ||||||
| 4,172 |
Duke Realty Corp |
65,041 | ||||||
| 734 |
DuPont Fabros Technology, Inc |
17,726 | ||||||
| 1,055 |
Dynex Capital, Inc |
10,750 | ||||||
| 361 |
EastGroup Properties, Inc |
20,313 | ||||||
| 1,317 |
Education Realty Trust, Inc |
13,473 | ||||||
| 580 |
Entertainment Properties Trust |
29,157 | ||||||
| 560 |
Equity Lifestyle Properties, Inc |
44,010 | ||||||
| 693 |
Equity One, Inc |
15,683 | ||||||
| 4,700 |
Equity Residential |
272,882 | ||||||
| 499 |
Essex Property Trust, Inc |
79,301 | ||||||
| 629 |
Excel Trust, Inc |
8,058 | ||||||
| 1,455 |
Extra Space Storage, Inc |
61,008 | ||||||
| 855 |
Federal Realty Investment Trust |
88,646 | ||||||
66
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,088 |
* | FelCor Lodging Trust, Inc |
$ | 12,340 | ||||
| 1,406 |
First Industrial Realty Trust, Inc |
21,329 | ||||||
| 627 |
First Potomac Realty Trust |
8,189 | ||||||
| 2,072 |
* | Forest City Enterprises, Inc (Class A) |
37,110 | |||||
| 498 |
* | Forestar Real Estate Group, Inc |
9,990 | |||||
| 1,181 |
Franklin Street Properties Corp |
15,589 | ||||||
| 7,797 |
General Growth Properties, Inc |
154,926 | ||||||
| 404 |
Getty Realty Corp |
8,343 | ||||||
| 579 |
Gladstone Commercial Corp |
10,793 | ||||||
| 1,772 |
Glimcher Realty Trust |
19,350 | ||||||
| 625 |
Government Properties Income Trust |
15,763 | ||||||
| 580 |
* | Gramercy Property Trust, Inc |
2,610 | |||||
| 1,296 |
Hatteras Financial Corp |
31,933 | ||||||
| 5,927 |
HCP, Inc |
269,323 | ||||||
| 3,732 |
Health Care REIT, Inc |
250,156 | ||||||
| 1,183 |
Healthcare Realty Trust, Inc |
30,167 | ||||||
| 1,456 |
Healthcare Trust of America, Inc |
16,351 | ||||||
| 3,082 |
Hersha Hospitality Trust |
17,382 | ||||||
| 1,132 |
Highwoods Properties, Inc |
40,311 | ||||||
| 713 |
Home Properties, Inc |
46,609 | ||||||
| 1,837 |
Hospitality Properties Trust |
48,276 | ||||||
| 9,675 |
Host Marriott Corp |
163,217 | ||||||
| 519 |
* | Howard Hughes Corp |
58,175 | |||||
| 1,534 |
HRPT Properties Trust |
35,466 | ||||||
| 467 |
Hudson Pacific Properties |
9,938 | ||||||
| 1,113 |
Inland Real Estate Corp |
11,375 | ||||||
| 1,779 |
Invesco Mortgage Capital, Inc |
29,460 | ||||||
| 1,317 |
Investors Real Estate Trust |
11,326 | ||||||
| 1,264 |
* | iStar Financial, Inc |
14,271 | |||||
| 174 |
* | JAVELIN Mortgage Investment Corp |
2,452 | |||||
| 578 |
Jones Lang LaSalle, Inc |
52,679 | ||||||
| 741 |
Kennedy-Wilson Holdings, Inc |
12,330 | ||||||
| 991 |
Kilroy Realty Corp |
52,533 | ||||||
| 5,359 |
Kimco Realty Corp |
114,843 | ||||||
| 1,214 |
Kite Realty Group Trust |
7,320 | ||||||
| 1,327 |
LaSalle Hotel Properties |
32,777 | ||||||
| 2,104 |
Lexington Corporate Properties Trust |
24,575 | ||||||
| 1,338 |
Liberty Property Trust |
49,453 | ||||||
| 458 |
LTC Properties, Inc |
17,885 | ||||||
| 1,839 |
Macerich Co |
112,124 | ||||||
| 1,118 |
Mack-Cali Realty Corp |
27,380 | ||||||
| 742 |
* | Maguire Properties, Inc |
2,330 | |||||
| 1,859 |
Medical Properties Trust, Inc |
26,621 | ||||||
| 4,747 |
MFA Mortgage Investments, Inc |
40,112 | ||||||
| 560 |
Mid-America Apartment Communities, Inc |
37,951 | ||||||
| 516 |
Monmouth Real Estate Investment Corp (Class A) |
5,093 | ||||||
| 417 |
National Health Investors, Inc |
24,962 | ||||||
| 1,554 |
National Retail Properties, Inc |
53,458 | ||||||
| 3,328 |
New Residential Investment Corp |
22,431 | ||||||
| 939 |
New York Mortgage Trust, Inc |
6,357 | ||||||
| 2,419 |
NorthStar Realty Finance Corp |
22,013 | ||||||
| 1,526 |
Omega Healthcare Investors, Inc |
47,337 | ||||||
| 498 |
One Liberty Properties, Inc |
10,936 | ||||||
| 570 |
Parkway Properties, Inc |
9,553 | ||||||
| 843 |
Pebblebrook Hotel Trust |
21,792 | ||||||
| 892 |
Pennsylvania Real Estate Investment Trust |
16,841 | ||||||
| 763 |
Pennymac Mortgage Investment Trust |
16,061 | ||||||
| 2,149 |
Piedmont Office Realty Trust, Inc |
38,424 | ||||||
| 2,137 |
Plum Creek Timber Co, Inc |
99,734 | ||||||
| 745 |
Post Properties, Inc |
36,870 | ||||||
| 481 |
Potlatch Corp |
19,452 | ||||||
| 6,535 |
Prologis, Inc |
246,500 | ||||||
| 235 |
PS Business Parks, Inc |
16,960 | ||||||
| 1,878 |
Public Storage, Inc |
287,954 | ||||||
| 1,095 |
RAIT Investment Trust |
8,234 | ||||||
| 838 |
Ramco-Gershenson Properties |
13,014 | ||||||
67
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,593 |
Rayonier, Inc |
$ | 88,236 | |||||
| 1,578 |
* | Realogy Holdings Corp |
75,807 | |||||
| 2,603 |
Realty Income Corp |
109,118 | ||||||
| 1,075 |
Redwood Trust, Inc |
18,275 | ||||||
| 1,142 |
Regency Centers Corp |
58,025 | ||||||
| 1,691 |
Resource Capital Corp |
10,400 | ||||||
| 894 |
Retail Opportunities Investment Corp |
12,427 | ||||||
| 1,665 |
Retail Properties of America, Inc |
23,776 | ||||||
| 1,620 |
RLJ Lodging Trust |
36,434 | ||||||
| 262 |
Rouse Properties, Inc |
5,140 | ||||||
| 580 |
Ryman Hospitality Properties |
22,626 | ||||||
| 539 |
Sabra Healthcare REIT, Inc |
14,073 | ||||||
| 133 |
Saul Centers, Inc |
5,913 | ||||||
| 292 |
Select Income REIT |
8,188 | ||||||
| 2,500 |
Senior Housing Properties Trust |
64,825 | ||||||
| 454 |
Silver Bay Realty Trust Corp |
7,518 | ||||||
| 4,068 |
Simon Property Group, Inc |
642,419 | ||||||
| 1,148 |
SL Green Realty Corp |
101,242 | ||||||
| 413 |
Sovran Self Storage, Inc |
26,758 | ||||||
| 759 |
Spirit Realty Capital, Inc |
13,450 | ||||||
| 810 |
*,e | St. Joe Co |
17,051 | |||||
| 534 |
STAG Industrial, Inc |
10,653 | ||||||
| 2,140 |
Starwood Property Trust, Inc |
52,965 | ||||||
| 2,727 |
* | Strategic Hotels & Resorts, Inc |
24,161 | |||||
| 860 |
Summit Hotel Properties, Inc |
8,127 | ||||||
| 493 |
Sun Communities, Inc |
24,532 | ||||||
| 2,146 |
* | Sunstone Hotel Investors, Inc |
25,924 | |||||
| 1,271 |
Tanger Factory Outlet Centers, Inc |
42,528 | ||||||
| 798 |
Taubman Centers, Inc |
59,970 | ||||||
| 156 |
* | Tejon Ranch Co |
4,444 | |||||
| 247 |
Terreno Realty Corp |
4,577 | ||||||
| 406 |
Thomas Properties Group, Inc |
2,152 | ||||||
| 4,797 |
Two Harbors Investment Corp |
49,169 | ||||||
| 3,291 |
UDR, Inc |
83,888 | ||||||
| 120 |
UMH Properties, Inc |
1,232 | ||||||
| 200 |
Universal Health Realty Income Trust |
8,626 | ||||||
| 447 |
Urstadt Biddle Properties, Inc (Class A) |
9,016 | ||||||
| 3,846 |
Ventas, Inc |
267,143 | ||||||
| 2,453 |
Vornado Realty Trust |
203,231 | ||||||
| 820 |
Washington Real Estate Investment Trust |
22,066 | ||||||
| 1,598 |
Weingarten Realty Investors |
49,170 | ||||||
| 320 |
Western Asset Mortgage Capital Corp |
5,587 | ||||||
| 7,185 |
Weyerhaeuser Co |
204,701 | ||||||
| 550 |
Whitestone REIT |
8,668 | ||||||
| 242 |
Winthrop Realty Trust |
2,911 | ||||||
| 754 |
WP Carey, Inc |
49,892 | ||||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
8,690,076 | |||||||
|
|
|
|||||||
| RETAILING - 4.4% |
| |||||||
| 1,152 |
* | 1-800-FLOWERS.COM, Inc (Class A) |
7,131 | |||||
| 998 |
Aaron’s, Inc |
27,954 | ||||||
| 1,026 |
Abercrombie & Fitch Co (Class A) |
46,427 | ||||||
| 934 |
Advance Auto Parts, Inc |
75,813 | ||||||
| 1,127 |
* | Aeropostale, Inc |
15,553 | |||||
| 4,841 |
* | Amazon.com, Inc |
1,344,297 | |||||
| 2,498 |
American Eagle Outfitters, Inc |
45,613 | ||||||
| 122 |
* | America’s Car-Mart, Inc |
5,275 | |||||
| 671 |
* | Ann Taylor Stores Corp |
22,277 | |||||
| 359 |
* | Asbury Automotive Group, Inc |
14,396 | |||||
| 1,563 |
* | Ascena Retail Group, Inc |
27,274 | |||||
| 673 |
* | Audiovox Corp (Class A) |
8,258 | |||||
| 667 |
* | Autonation, Inc |
28,941 | |||||
| 465 |
* | Autozone, Inc |
197,016 | |||||
| 477 |
* | Barnes & Noble, Inc |
7,613 | |||||
| 380 |
Bebe Stores, Inc |
2,132 | ||||||
68
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,867 |
* | Bed Bath & Beyond, Inc |
$ | 203,270 | ||||
| 3,575 |
Best Buy Co, Inc |
97,705 | ||||||
| 334 |
Big 5 Sporting Goods Corp |
7,331 | ||||||
| 766 |
* | Big Lots, Inc |
24,152 | |||||
| 158 |
* | Blue Nile, Inc |
5,969 | |||||
| 142 |
* | Body Central Corp |
1,891 | |||||
| 359 |
e | Bon-Ton Stores, Inc |
6,480 | |||||
| 482 |
Brown Shoe Co, Inc |
10,377 | ||||||
| 408 |
e | Buckle, Inc |
21,224 | |||||
| 617 |
* | Cabela’s, Inc |
39,957 | |||||
| 2,896 |
* | Carmax, Inc |
133,679 | |||||
| 525 |
Cato Corp (Class A) |
13,104 | ||||||
| 2,122 |
Chico’s FAS, Inc |
36,201 | ||||||
| 335 |
* | Children’s Place Retail Stores, Inc |
18,358 | |||||
| 469 |
* | Christopher & Banks Corp |
3,161 | |||||
| 243 |
* | Citi Trends, Inc |
3,531 | |||||
| 319 |
*,e | Conn’s, Inc |
16,511 | |||||
| 190 |
Core-Mark Holding Co, Inc |
12,065 | ||||||
| 798 |
*,e | CST Brands, Inc |
24,586 | |||||
| 118 |
Destination Maternity Corp |
2,903 | ||||||
| 514 |
* | Destination XL Group, Inc |
3,259 | |||||
| 1,304 |
Dick’s Sporting Goods, Inc |
65,278 | ||||||
| 374 |
Dillard’s, Inc (Class A) |
30,657 | ||||||
| 4,251 |
* | Dollar General Corp |
214,378 | |||||
| 2,944 |
* | Dollar Tree, Inc |
149,673 | |||||
| 465 |
DSW, Inc (Class A) |
34,164 | ||||||
| 1,398 |
Expedia, Inc |
84,090 | ||||||
| 1,135 |
* | Express Parent LLC |
23,801 | |||||
| 1,265 |
Family Dollar Stores, Inc |
78,822 | ||||||
| 681 |
Finish Line, Inc (Class A) |
14,887 | ||||||
| 430 |
*,e | Five Below, Inc |
15,807 | |||||
| 1,926 |
Foot Locker, Inc |
67,660 | ||||||
| 580 |
* | Francesca’s Holdings Corp |
16,118 | |||||
| 480 |
Fred’s, Inc (Class A) |
7,435 | ||||||
| 1,560 |
e | GameStop Corp (Class A) |
65,567 | |||||
| 3,660 |
Gap, Inc |
152,732 | ||||||
| 311 |
* | Genesco, Inc |
20,834 | |||||
| 2,032 |
Genuine Parts Co |
158,638 | ||||||
| 1,273 |
GNC Holdings, Inc |
56,279 | ||||||
| 107 |
* | Gordmans Stores, Inc |
1,456 | |||||
| 300 |
Group 1 Automotive, Inc |
19,299 | ||||||
| 5,505 |
* | Groupon, Inc |
46,793 | |||||
| 822 |
Guess?, Inc |
25,507 | ||||||
| 166 |
Haverty Furniture Cos, Inc |
3,820 | ||||||
| 176 |
*,e | HHgregg, Inc |
2,811 | |||||
| 335 |
*,e | Hibbett Sports, Inc |
18,592 | |||||
| 19,159 |
Home Depot, Inc |
1,484,248 | ||||||
| 739 |
* | HomeAway, Inc |
23,899 | |||||
| 475 |
HSN, Inc |
25,517 | ||||||
| 2,228 |
*,e | JC Penney Co, Inc |
38,054 | |||||
| 349 |
*,e | JOS A Bank Clothiers, Inc |
14,421 | |||||
| 145 |
* | Kirkland’s, Inc |
2,501 | |||||
| 2,910 |
Kohl’s Corp |
146,984 | ||||||
| 3,064 |
L Brands, Inc |
150,902 | ||||||
| 7,017 |
* | Liberty Media Holding Corp (Interactive A) |
161,461 | |||||
| 490 |
* | Liberty Ventures |
41,655 | |||||
| 291 |
Lithia Motors, Inc (Class A) |
15,513 | ||||||
| 3,907 |
* | LKQ Corp |
100,605 | |||||
| 14,275 |
Lowe’s Companies, Inc |
583,848 | ||||||
| 351 |
* | Lumber Liquidators, Inc |
27,332 | |||||
| 5,030 |
Macy’s, Inc |
241,440 | ||||||
| 257 |
* | MarineMax, Inc |
2,912 | |||||
| 139 |
*,e | Mattress Firm Holding Corp |
5,602 | |||||
| 661 |
Men’s Wearhouse, Inc |
25,019 | ||||||
| 412 |
e | Monro Muffler, Inc |
19,797 | |||||
| 662 |
* | NetFlix, Inc |
139,742 | |||||
69
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 512 |
* | New York & Co, Inc |
$ | 3,251 | ||||
| 1,902 |
Nordstrom, Inc |
114,006 | ||||||
| 414 |
Nutri/System, Inc |
4,877 | ||||||
| 3,623 |
*,e | Office Depot, Inc |
14,021 | |||||
| 1,103 |
OfficeMax, Inc |
11,284 | ||||||
| 482 |
* | Orbitz Worldwide, Inc |
3,870 | |||||
| 1,450 |
* | O’Reilly Automotive, Inc |
163,299 | |||||
| 176 |
*,e | Overstock.com, Inc |
4,963 | |||||
| 500 |
Penske Auto Group, Inc |
15,270 | ||||||
| 614 |
* | PEP Boys - Manny Moe & Jack |
7,110 | |||||
| 278 |
e | PetMed Express, Inc |
3,503 | |||||
| 1,378 |
Petsmart, Inc |
92,312 | ||||||
| 1,228 |
Pier 1 Imports, Inc |
28,846 | ||||||
| 676 |
* | Priceline.com, Inc |
559,140 | |||||
| 1,485 |
*,e | RadioShack Corp |
4,693 | |||||
| 793 |
e | Rent-A-Center, Inc |
29,777 | |||||
| 232 |
* | Restoration Hardware Holdings, Inc |
17,400 | |||||
| 2,876 |
Ross Stores, Inc |
186,394 | ||||||
| 180 |
* | Rue21, Inc |
7,490 | |||||
| 1,535 |
*,e | Saks, Inc |
20,937 | |||||
| 2,169 |
* | Sally Beauty Holdings, Inc |
67,456 | |||||
| 567 |
*,e | Sears Holdings Corp |
23,859 | |||||
| 159 |
* | Sears Hometown and Outlet Stores, Inc |
6,951 | |||||
| 717 |
* | Select Comfort Corp |
17,968 | |||||
| 326 |
Shoe Carnival, Inc |
7,827 | ||||||
| 497 |
* | Shutterfly, Inc |
27,728 | |||||
| 1,062 |
Signet Jewelers Ltd |
71,611 | ||||||
| 481 |
Sonic Automotive, Inc (Class A) |
10,168 | ||||||
| 411 |
Stage Stores, Inc |
9,659 | ||||||
| 8,705 |
Staples, Inc |
138,061 | ||||||
| 200 |
Stein Mart, Inc |
2,730 | ||||||
| 151 |
Systemax, Inc |
1,421 | ||||||
| 8,417 |
Target Corp |
579,595 | ||||||
| 1,464 |
Tiffany & Co |
106,638 | ||||||
| 239 |
* | Tile Shop Holdings, Inc |
6,921 | |||||
| 120 |
* | Tilly’s, Inc |
1,920 | |||||
| 9,440 |
TJX Companies, Inc |
472,566 | ||||||
| 916 |
Tractor Supply Co |
107,731 | ||||||
| 1,471 |
* | TripAdvisor, Inc |
89,540 | |||||
| 567 |
* | Tuesday Morning Corp |
5,880 | |||||
| 814 |
Ulta Salon Cosmetics & Fragrance, Inc |
81,530 | ||||||
| 1,468 |
* | Urban Outfitters, Inc |
59,043 | |||||
| 512 |
* | Valuevision International, Inc (Class A) |
2,616 | |||||
| 280 |
*,e | Vitacost.com, Inc |
2,366 | |||||
| 425 |
* | Vitamin Shoppe, Inc |
19,057 | |||||
| 178 |
* | West Marine, Inc |
1,958 | |||||
| 1,045 |
* | Wet Seal, Inc (Class A) |
4,922 | |||||
| 524 |
* | WEX, Inc |
40,191 | |||||
| 1,247 |
Williams-Sonoma, Inc |
69,695 | ||||||
| 433 |
* | Zale Corp |
3,940 | |||||
| 245 |
* | Zumiez, Inc |
7,044 | |||||
|
|
|
|||||||
| TOTAL RETAILING |
10,529,269 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.2% |
| |||||||
| 504 |
* | Advanced Energy Industries, Inc |
8,775 | |||||
| 8,180 |
*,e | Advanced Micro Devices, Inc |
33,374 | |||||
| 183 |
* | Alpha & Omega Semiconductor Ltd |
1,398 | |||||
| 4,196 |
Altera Corp |
138,426 | ||||||
| 239 |
* | Ambarella, Inc |
4,022 | |||||
| 1,245 |
* | Amkor Technology, Inc |
5,241 | |||||
| 891 |
* | Anadigics, Inc |
1,960 | |||||
| 4,072 |
Analog Devices, Inc |
183,484 | ||||||
| 15,804 |
Applied Materials, Inc |
235,638 | ||||||
| 891 |
* | Applied Micro Circuits Corp |
7,841 | |||||
70
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 5,710 |
* | Atmel Corp |
$ | 41,969 | ||||
| 395 |
* | ATMI, Inc |
9,342 | |||||
| 3,226 |
Avago Technologies Ltd |
120,588 | ||||||
| 4,761 |
* | Axcelis Technologies, Inc |
8,665 | |||||
| 7,491 |
Broadcom Corp (Class A) |
252,896 | ||||||
| 831 |
Brooks Automation, Inc |
8,086 | ||||||
| 285 |
Cabot Microelectronics Corp |
9,408 | ||||||
| 664 |
* | Cavium Networks, Inc |
23,486 | |||||
| 234 |
* | Ceva, Inc |
4,530 | |||||
| 821 |
*,e | Cirrus Logic, Inc |
14,253 | |||||
| 280 |
Cohu, Inc |
3,500 | ||||||
| 1,547 |
* | Cree, Inc |
98,791 | |||||
| 2,072 |
e | Cypress Semiconductor Corp |
22,233 | |||||
| 395 |
* | Diodes, Inc |
10,258 | |||||
| 289 |
* | DSP Group, Inc |
2,402 | |||||
| 1,676 |
* | Entegris, Inc |
15,738 | |||||
| 903 |
* | Entropic Communications, Inc |
3,856 | |||||
| 520 |
* | Exar Corp |
5,600 | |||||
| 1,829 |
* | Fairchild Semiconductor International, Inc |
25,240 | |||||
| 802 |
*,e | First Solar, Inc |
35,873 | |||||
| 593 |
* | Formfactor, Inc |
4,003 | |||||
| 740 |
*,e | Freescale Semiconductor Holdings Ltd |
10,027 | |||||
| 234 |
* | GSI Technology, Inc |
1,479 | |||||
| 1,568 |
*,e | GT Solar International, Inc |
6,507 | |||||
| 459 |
* | Hittite Microwave Corp |
26,622 | |||||
| 252 |
* | Inphi Corp |
2,772 | |||||
| 1,945 |
* | Integrated Device Technology, Inc |
15,443 | |||||
| 306 |
* | Integrated Silicon Solution, Inc |
3,354 | |||||
| 65,193 |
Intel Corp |
1,578,975 | ||||||
| 853 |
* | International Rectifier Corp |
17,862 | |||||
| 1,619 |
Intersil Corp (Class A) |
12,661 | ||||||
| 257 |
IXYS Corp |
2,842 | ||||||
| 2,178 |
Kla-Tencor Corp |
121,380 | ||||||
| 800 |
* | Kopin Corp |
2,968 | |||||
| 2,143 |
* | Lam Research Corp |
95,021 | |||||
| 1,300 |
* | Lattice Semiconductor Corp |
6,591 | |||||
| 3,060 |
Linear Technology Corp |
112,730 | ||||||
| 7,345 |
* | LSI Logic Corp |
52,443 | |||||
| 584 |
* | LTX-Credence Corp |
3,498 | |||||
| 80 |
* | MA-COM Technology Solutions |
1,168 | |||||
| 5,232 |
Marvell Technology Group Ltd |
61,267 | ||||||
| 3,850 |
Maxim Integrated Products, Inc |
106,953 | ||||||
| 87 |
* | MaxLinear, Inc |
609 | |||||
| 797 |
Micrel, Inc |
7,874 | ||||||
| 2,624 |
Microchip Technology, Inc |
97,744 | ||||||
| 13,505 |
* | Micron Technology, Inc |
193,527 | |||||
| 1,221 |
* | Microsemi Corp |
27,778 | |||||
| 378 |
*,e | Mindspeed Technologies, Inc |
1,225 | |||||
| 698 |
MKS Instruments, Inc |
18,525 | ||||||
| 407 |
Monolithic Power Systems, Inc |
9,813 | ||||||
| 316 |
* | MoSys, Inc |
1,270 | |||||
| 214 |
* | Nanometrics, Inc |
3,139 | |||||
| 55 |
* | NVE Corp |
2,575 | |||||
| 7,587 |
Nvidia Corp |
106,446 | ||||||
| 721 |
* | Omnivision Technologies, Inc |
13,447 | |||||
| 5,763 |
* | ON Semiconductor Corp |
46,565 | |||||
| 268 |
* | PDF Solutions, Inc |
4,939 | |||||
| 347 |
* | Peregrine Semiconductor Corp |
3,786 | |||||
| 304 |
* | Pericom Semiconductor Corp |
2,165 | |||||
| 666 |
* | Photronics, Inc |
5,368 | |||||
| 410 |
* | PLX Technology, Inc |
1,952 | |||||
| 2,763 |
* | PMC - Sierra, Inc |
17,545 | |||||
| 358 |
Power Integrations, Inc |
14,520 | ||||||
| 1,317 |
* | Rambus, Inc |
11,313 | |||||
| 3,667 |
* | RF Micro Devices, Inc |
19,618 | |||||
| 149 |
*,e | Rubicon Technology, Inc |
1,194 | |||||
71
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 351 |
* | Rudolph Technologies, Inc |
$ | 3,931 | ||||
| 936 |
* | Semtech Corp |
32,788 | |||||
| 373 |
* | Sigma Designs, Inc |
1,884 | |||||
| 1,131 |
* | Silicon Image, Inc |
6,616 | |||||
| 618 |
* | Silicon Laboratories, Inc |
25,591 | |||||
| 2,509 |
* | Skyworks Solutions, Inc |
54,922 | |||||
| 622 |
* | Spansion, Inc |
7,787 | |||||
| 3,138 |
* | SunEdison, Inc |
25,637 | |||||
| 589 |
*,e | SunPower Corp |
12,192 | |||||
| 100 |
Supertex, Inc |
2,391 | ||||||
| 2,565 |
* | Teradyne, Inc |
45,067 | |||||
| 605 |
Tessera Technologies, Inc |
12,584 | ||||||
| 14,611 |
Texas Instruments, Inc |
509,486 | ||||||
| 1,986 |
* | Triquint Semiconductor, Inc |
13,763 | |||||
| 267 |
* | Ultra Clean Holdings |
1,615 | |||||
| 367 |
* | Ultratech, Inc |
13,476 | |||||
| 512 |
*,e | Veeco Instruments, Inc |
18,135 | |||||
| 288 |
* | Volterra Semiconductor Corp |
4,067 | |||||
| 3,471 |
Xilinx, Inc |
137,486 | ||||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
5,125,794 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 9.6% |
| |||||||
| 552 |
* | Accelrys, Inc |
4,637 | |||||
| 8,440 |
Accenture plc |
607,342 | ||||||
| 503 |
* | ACI Worldwide, Inc |
23,379 | |||||
| 490 |
* | Active Network, Inc |
3,709 | |||||
| 5,714 |
Activision Blizzard, Inc |
81,482 | ||||||
| 620 |
* | Actuate Corp |
4,117 | |||||
| 1,008 |
* | Acxiom Corp |
22,861 | |||||
| 6,585 |
* | Adobe Systems, Inc |
300,013 | |||||
| 374 |
* | Advent Software, Inc |
13,112 | |||||
| 2,323 |
* | Akamai Technologies, Inc |
98,844 | |||||
| 645 |
* | Alliance Data Systems Corp |
116,764 | |||||
| 2,269 |
Amdocs Ltd |
84,157 | ||||||
| 276 |
American Software, Inc (Class A) |
2,398 | ||||||
| 555 |
* | Angie’s List, Inc |
14,735 | |||||
| 1,221 |
* | Ansys, Inc |
89,255 | |||||
| 1,061 |
AOL, Inc |
38,705 | ||||||
| 1,185 |
* | Aspen Technology, Inc |
34,116 | |||||
| 2,934 |
* | Autodesk, Inc |
99,580 | |||||
| 6,465 |
Automatic Data Processing, Inc |
445,180 | ||||||
| 315 |
* | AVG Technologies NV |
6,127 | |||||
| 588 |
*,e | Bankrate, Inc |
8,444 | |||||
| 636 |
*,e | Bazaarvoice, Inc |
5,991 | |||||
| 538 |
Blackbaud, Inc |
17,523 | ||||||
| 148 |
* | Blackhawk Network Holdings, Inc |
3,434 | |||||
| 540 |
* | Blucora, Inc |
10,012 | |||||
| 1,934 |
* | BMC Software, Inc |
87,301 | |||||
| 294 |
Booz Allen Hamilton Holding Co |
5,110 | ||||||
| 421 |
* | Bottomline Technologies, Inc |
10,647 | |||||
| 357 |
* | Brightcove, Inc |
3,127 | |||||
| 1,649 |
Broadridge Financial Solutions, Inc |
43,830 | ||||||
| 440 |
* | BroadSoft, Inc |
12,144 | |||||
| 4,344 |
CA, Inc |
124,369 | ||||||
| 349 |
*,e | CACI International, Inc (Class A) |
22,158 | |||||
| 3,718 |
* | Cadence Design Systems, Inc |
53,837 | |||||
| 370 |
* | Callidus Software, Inc |
2,438 | |||||
| 531 |
* | Cardtronics, Inc |
14,656 | |||||
| 90 |
Cass Information Systems, Inc |
4,149 | ||||||
| 834 |
* | Ciber, Inc |
2,786 | |||||
| 2,423 |
* | Citrix Systems, Inc |
146,180 | |||||
| 118 |
*,m | Clinical Data, Inc |
112 | |||||
| 3,978 |
* | Cognizant Technology Solutions Corp (Class A) |
249,063 | |||||
| 610 |
* | Commvault Systems, Inc |
46,293 | |||||
| 1,926 |
Computer Sciences Corp |
84,301 | ||||||
72
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 174 |
Computer Task Group, Inc |
$ | 3,997 | |||||
| 2,948 |
Compuware Corp |
30,512 | ||||||
| 399 |
* | comScore, Inc |
9,732 | |||||
| 276 |
* | Comverse, Inc |
8,214 | |||||
| 611 |
*,e | Concur Technologies, Inc |
49,723 | |||||
| 342 |
*,e | Constant Contact, Inc |
5,496 | |||||
| 1,480 |
Convergys Corp |
25,796 | ||||||
| 530 |
* | Cornerstone OnDemand, Inc |
22,944 | |||||
| 374 |
* | CoStar Group, Inc |
48,272 | |||||
| 485 |
* | CSG Systems International, Inc |
10,524 | |||||
| 571 |
* | DealerTrack Holdings, Inc |
20,231 | |||||
| 379 |
* | Demand Media, Inc |
2,274 | |||||
| 210 |
*,e | Demandware, Inc |
8,906 | |||||
| 606 |
* | Dice Holdings, Inc |
5,581 | |||||
| 453 |
* | Digital River, Inc |
8,503 | |||||
| 85 |
DMRC Corp |
1,765 | ||||||
| 426 |
DST Systems, Inc |
27,831 | ||||||
| 190 |
* | E2open, Inc |
3,325 | |||||
| 1,405 |
Earthlink, Inc |
8,725 | ||||||
| 17,020 |
* | eBay, Inc |
880,274 | |||||
| 4,056 |
* | Electronic Arts, Inc |
93,166 | |||||
| 280 |
* | Ellie Mae, Inc |
6,462 | |||||
| 269 |
* | Envestnet, Inc |
6,617 | |||||
| 285 |
* | EPAM Systems, Inc |
7,746 | |||||
| 405 |
EPIQ Systems, Inc |
5,455 | ||||||
| 51 |
ePlus, Inc |
3,054 | ||||||
| 647 |
* | Equinix, Inc |
119,514 | |||||
| 589 |
* | Euronet Worldwide, Inc |
18,766 | |||||
| 388 |
* | EVERTEC, Inc |
8,524 | |||||
| 564 |
* | ExactTarget, Inc |
19,018 | |||||
| 430 |
* | ExlService Holdings, Inc |
12,711 | |||||
| 22,342 |
* | Facebook, Inc |
555,422 | |||||
| 590 |
e | Factset Research Systems, Inc |
60,145 | |||||
| 557 |
Fair Isaac Corp |
25,527 | ||||||
| 3,796 |
Fidelity National Information Services, Inc |
162,621 | ||||||
| 1,356 |
* | First American Corp |
31,419 | |||||
| 1,747 |
* | Fiserv, Inc |
152,705 | |||||
| 891 |
* | FleetCor Technologies, Inc |
72,438 | |||||
| 215 |
* | FleetMatics Group plc |
7,144 | |||||
| 178 |
Forrester Research, Inc |
6,531 | ||||||
| 1,660 |
* | Fortinet, Inc |
29,050 | |||||
| 1,208 |
* | Gartner, Inc |
68,844 | |||||
| 2,209 |
Genpact Ltd |
42,501 | ||||||
| 299 |
*,m | Gerber Scientific, Inc |
0 | |||||
| 824 |
* | Global Cash Access, Inc |
5,158 | |||||
| 281 |
* | Global Eagle Entertainment, Inc |
2,827 | |||||
| 1,032 |
Global Payments, Inc |
47,802 | ||||||
| 531 |
*,e | Glu Mobile, Inc |
1,168 | |||||
| 3,537 |
* | Google, Inc (Class A) |
3,113,869 | |||||
| 551 |
* | Guidewire Software, Inc |
23,170 | |||||
| 476 |
Hackett Group, Inc |
2,470 | ||||||
| 451 |
e | Heartland Payment Systems, Inc |
16,800 | |||||
| 384 |
*,e | Higher One Holdings, Inc |
4,470 | |||||
| 1,028 |
IAC/InterActiveCorp |
48,892 | ||||||
| 384 |
* | iGate Corp |
6,305 | |||||
| 266 |
* | Imperva, Inc |
11,981 | |||||
| 655 |
* | Infoblox, Inc |
19,165 | |||||
| 1,414 |
* | Informatica Corp |
49,462 | |||||
| 202 |
* | Interactive Intelligence, Inc |
10,423 | |||||
| 538 |
* | Internap Network Services Corp |
4,449 | |||||
| 13,662 |
International Business Machines Corp |
2,610,945 | ||||||
| 3,877 |
Intuit, Inc |
236,613 | ||||||
| 601 |
e | j2 Global, Inc |
25,548 | |||||
| 1,107 |
Jack Henry & Associates, Inc |
52,173 | ||||||
| 522 |
* | Jive Software, Inc |
9,485 | |||||
| 168 |
Keynote Systems, Inc |
3,320 | ||||||
73
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 298 |
* | Knot, Inc |
$ | 3,338 | ||||
| 1,154 |
Lender Processing Services, Inc |
37,332 | ||||||
| 884 |
* | Limelight Networks, Inc |
1,989 | |||||
| 1,186 |
* | LinkedIn Corp |
211,464 | |||||
| 704 |
* | Lionbridge Technologies |
2,042 | |||||
| 325 |
*,e | Liquidity Services, Inc |
11,268 | |||||
| 697 |
* | Liveperson, Inc |
6,242 | |||||
| 252 |
* | LogMeIn, Inc |
6,164 | |||||
| 187 |
* | magicJack VocalTec Ltd |
2,654 | |||||
| 311 |
* | Manhattan Associates, Inc |
23,997 | |||||
| 292 |
e | Mantech International Corp (Class A) |
7,627 | |||||
| 206 |
Marchex, Inc (Class B) |
1,240 | ||||||
| 280 |
* | Market Leader, Inc |
2,996 | |||||
| 1,533 |
Mastercard, Inc (Class A) |
880,708 | ||||||
| 482 |
MAXIMUS, Inc |
35,899 | ||||||
| 1,291 |
Mentor Graphics Corp |
25,239 | ||||||
| 1,095 |
*,e | Micros Systems, Inc |
47,249 | |||||
| 109,528 |
Microsoft Corp |
3,782,002 | ||||||
| 100 |
* | MicroStrategy, Inc (Class A) |
8,696 | |||||
| 461 |
*,e | Millennial Media, Inc |
4,015 | |||||
| 105 |
* | Model N, Inc |
2,453 | |||||
| 529 |
* | ModusLink Global Solutions, Inc |
1,682 | |||||
| 278 |
* | MoneyGram International, Inc |
6,297 | |||||
| 443 |
Monotype Imaging Holdings, Inc |
11,257 | ||||||
| 1,800 |
* | Monster Worldwide, Inc |
8,838 | |||||
| 696 |
* | Move, Inc |
8,923 | |||||
| 467 |
* | Netscout Systems, Inc |
10,900 | |||||
| 458 |
* | NetSuite, Inc |
42,017 | |||||
| 874 |
* | NeuStar, Inc (Class A) |
42,546 | |||||
| 789 |
NIC, Inc |
13,042 | ||||||
| 3,423 |
* | Nuance Communications, Inc |
62,915 | |||||
| 293 |
*,e | OpenTable, Inc |
18,737 | |||||
| 46,641 |
Oracle Corp |
1,432,812 | ||||||
| 1,693 |
*,e | Pandora Media, Inc |
31,151 | |||||
| 4,276 |
Paychex, Inc |
156,159 | ||||||
| 162 |
Pegasystems, Inc |
5,365 | ||||||
| 320 |
* | Perficient, Inc |
4,269 | |||||
| 240 |
* | PRG-Schultz International, Inc |
1,318 | |||||
| 831 |
* | Progress Software Corp |
19,121 | |||||
| 282 |
* | Proofpoint, Inc |
6,833 | |||||
| 283 |
* | PROS Holdings, Inc |
8,476 | |||||
| 1,520 |
* | PTC, Inc |
37,286 | |||||
| 43 |
QAD, Inc (Class A) |
494 | ||||||
| 1,081 |
* | QLIK Technologies, Inc |
30,560 | |||||
| 201 |
* | Qualys, Inc |
3,240 | |||||
| 335 |
* | QuinStreet, Inc |
2,891 | |||||
| 1,481 |
* | Rackspace Hosting, Inc |
56,115 | |||||
| 299 |
RealNetworks, Inc |
2,260 | ||||||
| 606 |
*,e | RealPage, Inc |
11,114 | |||||
| 2,534 |
* | Red Hat, Inc |
121,176 | |||||
| 453 |
* | Responsys, Inc |
6,482 | |||||
| 127 |
* | Rosetta Stone, Inc |
1,872 | |||||
| 1,436 |
* | Rovi Corp |
32,798 | |||||
| 3,832 |
SAIC, Inc |
53,380 | ||||||
| 7,804 |
* | Salesforce.com, Inc |
297,957 | |||||
| 170 |
e | Sapiens International Corp NV |
976 | |||||
| 1,557 |
Sapient Corp |
20,334 | ||||||
| 303 |
* | Sciquest, Inc |
7,590 | |||||
| 334 |
* | Seachange International, Inc |
3,911 | |||||
| 1,035 |
* | ServiceNow, Inc |
41,804 | |||||
| 634 |
* | ServiceSource International LLC |
5,909 | |||||
| 98 |
* | Shutterstock, Inc |
5,466 | |||||
| 860 |
* | SolarWinds, Inc |
33,377 | |||||
| 977 |
Solera Holdings, Inc |
54,370 | ||||||
| 376 |
* | Sourcefire, Inc |
20,887 | |||||
| 150 |
* | Spark Networks, Inc |
1,267 | |||||
74
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,343 |
* | Splunk, Inc |
$ | 62,261 | ||||
| 235 |
* | SPS Commerce, Inc |
12,925 | |||||
| 765 |
* | SS&C Technologies Holdings, Inc |
25,168 | |||||
| 192 |
* | Stamps.com, Inc |
7,563 | |||||
| 513 |
* | SupportSoft, Inc |
2,344 | |||||
| 460 |
* | SYKES Enterprises, Inc |
7,250 | |||||
| 9,231 |
Symantec Corp |
207,421 | ||||||
| 328 |
* | Synchronoss Technologies, Inc |
10,125 | |||||
| 2,017 |
* | Synopsys, Inc |
72,108 | |||||
| 190 |
Syntel, Inc |
11,945 | ||||||
| 402 |
* | TA Indigo Holding Corp |
2,918 | |||||
| 123 |
* | Tableau Software, Inc |
6,817 | |||||
| 925 |
* | Take-Two Interactive Software, Inc |
13,847 | |||||
| 383 |
* | Tangoe, Inc |
5,910 | |||||
| 132 |
* | TechTarget, Inc |
590 | |||||
| 205 |
* | TeleNav, Inc |
1,072 | |||||
| 455 |
* | TeleTech Holdings, Inc |
10,661 | |||||
| 2,163 |
* | Teradata Corp |
108,647 | |||||
| 2,110 |
* | TIBCO Software, Inc |
45,154 | |||||
| 1,671 |
* | TiVo, Inc |
18,465 | |||||
| 2,061 |
Total System Services, Inc |
50,453 | ||||||
| 174 |
* | Travelzoo, Inc |
4,743 | |||||
| 317 |
* | Trulia, Inc |
9,856 | |||||
| 432 |
* | Tyler Technologies, Inc |
29,614 | |||||
| 362 |
* | Ultimate Software Group, Inc |
42,459 | |||||
| 586 |
* | Unisys Corp |
12,933 | |||||
| 1,056 |
United Online, Inc |
8,004 | ||||||
| 1,006 |
* | Unwired Planet, Inc |
1,962 | |||||
| 1,094 |
* | Valueclick, Inc |
27,000 | |||||
| 1,144 |
* | Vantiv, Inc |
31,574 | |||||
| 248 |
* | Vasco Data Security International |
2,061 | |||||
| 1,365 |
* | VeriFone Systems, Inc |
22,946 | |||||
| 691 |
* | Verint Systems, Inc |
24,510 | |||||
| 1,932 |
* | VeriSign, Inc |
86,283 | |||||
| 574 |
*,e | VirnetX Holding Corp |
11,474 | |||||
| 265 |
* | Virtusa Corp |
5,872 | |||||
| 6,877 |
Visa, Inc (Class A) |
1,256,772 | ||||||
| 527 |
*,e | VistaPrint Ltd |
26,018 | |||||
| 1,140 |
* | VMware, Inc (Class A) |
76,369 | |||||
| 202 |
* | Vocus, Inc |
2,125 | |||||
| 852 |
* | Vringo, Inc |
2,701 | |||||
| 562 |
* | WebMD Health Corp (Class A) |
16,506 | |||||
| 552 |
* | Website Pros, Inc |
14,131 | |||||
| 7,311 |
Western Union Co |
125,091 | ||||||
| 485 |
* | Workday, Inc |
31,084 | |||||
| 12,519 |
* | Yahoo!, Inc |
314,352 | |||||
| 387 |
* | Yelp, Inc |
13,456 | |||||
| 272 |
* | Zillow, Inc |
15,314 | |||||
| 743 |
* | Zix Corp |
3,143 | |||||
| 7,662 |
*,e | Zynga, Inc |
21,300 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
22,827,003 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 5.4% |
| |||||||
| 1,320 |
*,e | 3D Systems Corp |
57,948 | |||||
| 806 |
e | Adtran, Inc |
19,836 | |||||
| 400 |
* | Agilysys, Inc |
4,516 | |||||
| 2,138 |
Amphenol Corp (Class A) |
166,636 | ||||||
| 200 |
* | Anaren, Inc |
4,588 | |||||
| 356 |
Anixter International, Inc |
26,988 | ||||||
| 12,319 |
Apple, Inc |
4,879,310 | ||||||
| 1,549 |
* | ARRIS Group, Inc |
22,228 | |||||
| 1,424 |
* | Arrow Electronics, Inc |
56,746 | |||||
| 1,423 |
* | Aruba Networks, Inc |
21,857 | |||||
| 80 |
* | Audience, Inc |
1,057 | |||||
| 424 |
* | Avid Technology, Inc |
2,493 | |||||
75
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,830 |
* | Avnet, Inc |
$ | 61,488 | ||||
| 583 |
AVX Corp |
6,850 | ||||||
| 245 |
* | AX Holding Corp |
1,933 | |||||
| 258 |
Badger Meter, Inc |
11,494 | ||||||
| 100 |
Bel Fuse, Inc (Class B) |
1,345 | ||||||
| 750 |
* | Benchmark Electronics, Inc |
15,075 | |||||
| 226 |
Black Box Corp |
5,722 | ||||||
| 5,865 |
* | Brocade Communications Systems, Inc |
33,782 | |||||
| 358 |
* | CalAmp Corp |
5,227 | |||||
| 469 |
* | Calix Networks, Inc |
4,737 | |||||
| 500 |
* | Checkpoint Systems, Inc |
7,095 | |||||
| 1,254 |
* | Ciena Corp |
24,353 | |||||
| 70,156 |
Cisco Systems, Inc |
1,705,492 | ||||||
| 542 |
Cognex Corp |
24,509 | ||||||
| 306 |
Coherent, Inc |
16,851 | ||||||
| 330 |
Comtech Telecommunications Corp |
8,874 | ||||||
| 19,277 |
Corning, Inc |
274,312 | ||||||
| 518 |
* | Cray, Inc |
10,174 | |||||
| 409 |
CTS Corp |
5,579 | ||||||
| 423 |
Daktronics, Inc |
4,340 | ||||||
| 185 |
* | Datalink Corp |
1,968 | |||||
| 16,511 |
Dell, Inc |
220,422 | ||||||
| 772 |
Diebold, Inc |
26,009 | ||||||
| 400 |
* | Digi International, Inc |
3,748 | |||||
| 633 |
e | Dolby Laboratories, Inc (Class A) |
21,174 | |||||
| 196 |
* | DTS, Inc |
4,034 | |||||
| 485 |
* | EchoStar Corp (Class A) |
18,968 | |||||
| 248 |
Electro Rent Corp |
4,164 | ||||||
| 300 |
Electro Scientific Industries, Inc |
3,228 | ||||||
| 630 |
* | Electronics for Imaging, Inc |
17,823 | |||||
| 27,587 |
EMC Corp |
651,605 | ||||||
| 1,000 |
* | Emulex Corp |
6,520 | |||||
| 1,016 |
* | Extreme Networks, Inc |
3,505 | |||||
| 1,009 |
* | F5 Networks, Inc |
69,419 | |||||
| 252 |
* | Fabrinet |
3,528 | |||||
| 215 |
* | FARO Technologies, Inc |
7,271 | |||||
| 505 |
FEI Co |
36,860 | ||||||
| 1,138 |
* | Finisar Corp |
19,289 | |||||
| 1,943 |
Flir Systems, Inc |
52,403 | ||||||
| 1,128 |
*,e | Fusion-io, Inc |
16,063 | |||||
| 228 |
* | Globecomm Systems, Inc |
2,882 | |||||
| 327 |
* | GSI Group, Inc |
2,629 | |||||
| 1,150 |
* | Harmonic, Inc |
7,303 | |||||
| 1,483 |
Harris Corp |
73,038 | ||||||
| 670 |
* | Harris Stratex Networks, Inc (Class A) |
1,755 | |||||
| 25,536 |
Hewlett-Packard Co |
633,293 | ||||||
| 400 |
* | Imation Corp |
1,692 | |||||
| 289 |
* | Immersion Corp |
3,829 | |||||
| 1,519 |
*,e | Infinera Corp |
16,208 | |||||
| 2,058 |
* | Ingram Micro, Inc (Class A) |
39,081 | |||||
| 655 |
* | Insight Enterprises, Inc |
11,620 | |||||
| 564 |
e | InterDigital, Inc |
25,183 | |||||
| 745 |
* | Intermec, Inc |
7,323 | |||||
| 750 |
*,e | InvenSense, Inc |
11,535 | |||||
| 407 |
e | IPG Photonics Corp |
24,717 | |||||
| 477 |
* | Itron, Inc |
20,239 | |||||
| 743 |
* | Ixia |
13,671 | |||||
| 2,660 |
Jabil Circuit, Inc |
54,211 | ||||||
| 3,054 |
* | JDS Uniphase Corp |
43,917 | |||||
| 6,682 |
* | Juniper Networks, Inc |
129,029 | |||||
| 1,680 |
* | Kemet Corp |
6,905 | |||||
| 172 |
* | KVH Industries, Inc |
2,289 | |||||
| 871 |
e | Lexmark International, Inc (Class A) |
26,626 | |||||
| 261 |
Littelfuse, Inc |
19,473 | ||||||
| 315 |
*,e | Maxwell Technologies, Inc |
2,252 | |||||
76
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 187 |
* | Measurement Specialties, Inc |
$ | 8,701 | ||||
| 375 |
* | Mercury Computer Systems, Inc |
3,458 | |||||
| 30 |
Mesa Laboratories, Inc |
1,624 | ||||||
| 447 |
Methode Electronics, Inc |
7,603 | ||||||
| 1,811 |
Molex, Inc |
53,135 | ||||||
| 3,196 |
Motorola, Inc |
184,505 | ||||||
| 221 |
MTS Systems Corp |
12,509 | ||||||
| 160 |
* | Multi-Fineline Electronix, Inc |
2,370 | |||||
| 1,200 |
National Instruments Corp |
33,528 | ||||||
| 2,098 |
* | NCR Corp |
69,213 | |||||
| 290 |
*,e | Neonode, Inc |
1,726 | |||||
| 4,695 |
* | NetApp, Inc |
177,377 | |||||
| 454 |
* | Netgear, Inc |
13,865 | |||||
| 407 |
* | Newport Corp |
5,670 | |||||
| 252 |
* | Oplink Communications, Inc |
4,377 | |||||
| 252 |
* | OSI Systems, Inc |
16,234 | |||||
| 434 |
* | Palo Alto Networks, Inc |
18,297 | |||||
| 232 |
Park Electrochemical Corp |
5,570 | ||||||
| 935 |
*,e | Parkervision, Inc |
4,254 | |||||
| 230 |
PC-Tel, Inc |
1,950 | ||||||
| 554 |
Plantronics, Inc |
24,332 | ||||||
| 511 |
* | Plexus Corp |
15,274 | |||||
| 2,192 |
* | Polycom, Inc |
23,104 | |||||
| 851 |
* | Power-One, Inc |
5,378 | |||||
| 248 |
* | Procera Networks, Inc |
3,405 | |||||
| 1,437 |
* | QLogic Corp |
13,738 | |||||
| 22,678 |
Qualcomm, Inc |
1,385,172 | ||||||
| 4,721 |
* | Quantum Corp |
6,468 | |||||
| 301 |
* | Rackable Systems, Inc |
4,027 | |||||
| 187 |
* | Radisys Corp |
899 | |||||
| 485 |
* | RealD, Inc |
6,742 | |||||
| 181 |
Richardson Electronics Ltd |
2,125 | ||||||
| 2,138 |
* | Riverbed Technology, Inc |
33,267 | |||||
| 383 |
* | Rofin-Sinar Technologies, Inc |
9,552 | |||||
| 200 |
* | Rogers Corp |
9,464 | |||||
| 571 |
* | Ruckus Wireless, Inc |
7,315 | |||||
| 3,191 |
* | SanDisk Corp |
194,970 | |||||
| 958 |
* | Sanmina Corp |
13,747 | |||||
| 321 |
* | Scansource, Inc |
10,272 | |||||
| 495 |
* | ShoreTel, Inc |
1,995 | |||||
| 3,028 |
* | Sonus Networks, Inc |
9,114 | |||||
| 488 |
* | STEC, Inc |
3,279 | |||||
| 416 |
*,e | Stratasys Ltd |
34,836 | |||||
| 258 |
* | Super Micro Computer, Inc |
2,745 | |||||
| 396 |
* | Symmetricom, Inc |
1,778 | |||||
| 424 |
* | Synaptics, Inc |
16,349 | |||||
| 313 |
* | SYNNEX Corp |
13,234 | |||||
| 546 |
* | Tech Data Corp |
25,711 | |||||
| 4,811 |
Tellabs, Inc |
9,526 | ||||||
| 70 |
Tessco Technologies, Inc |
1,848 | ||||||
| 3,355 |
* | Trimble Navigation Ltd |
87,264 | |||||
| 971 |
* | TTM Technologies, Inc |
8,156 | |||||
| 166 |
Ubiquiti Networks, Inc |
2,912 | ||||||
| 527 |
*,e | Universal Display Corp |
14,814 | |||||
| 529 |
* | Viasat, Inc |
37,802 | |||||
| 1,895 |
* | Vishay Intertechnology, Inc |
26,322 | |||||
| 161 |
* | Vishay Precision Group, Inc |
2,438 | |||||
| 662 |
* | Westell Technologies, Inc |
1,582 | |||||
| 2,772 |
Western Digital Corp |
172,114 | ||||||
| 16,106 |
Xerox Corp |
146,081 | ||||||
| 721 |
* | Zebra Technologies Corp (Class A) |
31,320 | |||||
| 198 |
* | Zygo Corp |
3,130 | |||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
12,911,703 | |||||||
|
|
|
|||||||
77
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| TELECOMMUNICATION SERVICES - 2.4% |
| |||||||
| 754 |
* | 8x8, Inc |
$ | 6,213 | ||||
| 70,563 |
AT&T, Inc |
2,497,930 | ||||||
| 105 |
Atlantic Tele-Network, Inc |
5,214 | ||||||
| 201 |
*,e | Boingo Wireless, Inc |
1,248 | |||||
| 277 |
* | Cbeyond Communications, Inc |
2,172 | |||||
| 7,989 |
CenturyTel, Inc |
282,411 | ||||||
| 3,005 |
* | Cincinnati Bell, Inc |
9,195 | |||||
| 7,244 |
* | Clearwire Corp (Class A) |
36,075 | |||||
| 706 |
Cogent Communications Group, Inc |
19,874 | ||||||
| 526 |
Consolidated Communications Holdings, Inc |
9,158 | ||||||
| 3,880 |
* | Crown Castle International Corp |
280,873 | |||||
| 269 |
*,e | Fairpoint Communications, Inc |
2,246 | |||||
| 13,108 |
e | Frontier Communications Corp |
53,088 | |||||
| 464 |
* | General Communication, Inc (Class A) |
3,633 | |||||
| 126 |
* | Hawaiian Telcom Holdco, Inc |
3,170 | |||||
| 170 |
HickoryTech Corp |
1,807 | ||||||
| 164 |
IDT Corp (Class B) |
3,065 | ||||||
| 686 |
* | inContact, Inc |
5,639 | |||||
| 391 |
Inteliquent, Inc |
2,248 | ||||||
| 295 |
* | Intelsat S.A. |
5,900 | |||||
| 641 |
*,e | Iridium Communications, Inc |
4,974 | |||||
| 710 |
*,e | Leap Wireless International, Inc |
4,778 | |||||
| 2,188 |
* | Level 3 Communications, Inc |
46,123 | |||||
| 181 |
Lumos Networks Corp |
3,095 | ||||||
| 2,115 |
*,e | NII Holdings, Inc (Class B) |
14,107 | |||||
| 181 |
NTELOS Holdings Corp |
2,979 | ||||||
| 430 |
* | Orbcomm, Inc |
1,931 | |||||
| 762 |
* | Premiere Global Services, Inc |
9,197 | |||||
| 153 |
Primus Telecommunications Group, Inc |
1,827 | ||||||
| 1,674 |
* | SBA Communications Corp (Class A) |
124,077 | |||||
| 364 |
Shenandoah Telecom Co |
6,072 | ||||||
| 32,197 |
* | Sprint Nextel Corp |
226,023 | |||||
| 1,221 |
Telephone & Data Systems, Inc |
30,098 | ||||||
| 2,257 |
T-Mobile US, Inc |
55,996 | ||||||
| 420 |
*,e | Towerstream Corp |
1,071 | |||||
| 1,990 |
* | tw telecom inc (Class A) |
55,999 | |||||
| 200 |
US Cellular Corp |
7,338 | ||||||
| 250 |
USA Mobility, Inc |
3,393 | ||||||
| 37,536 |
Verizon Communications, Inc |
1,889,562 | ||||||
| 1,236 |
* | Vonage Holdings Corp |
3,498 | |||||
| 7,924 |
e | Windstream Corp |
61,094 | |||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
5,784,391 | |||||||
|
|
|
|||||||
| TRANSPORTATION - 1.9% |
| |||||||
| 776 |
* | Air Transport Services Group, Inc |
5,129 | |||||
| 923 |
* | Alaska Air Group, Inc |
47,996 | |||||
| 215 |
Allegiant Travel Co |
22,788 | ||||||
| 100 |
Amerco, Inc |
16,190 | ||||||
| 300 |
Arkansas Best Corp |
6,885 | ||||||
| 331 |
* | Atlas Air Worldwide Holdings, Inc |
14,485 | |||||
| 1,415 |
* | Avis Budget Group, Inc |
40,681 | |||||
| 250 |
* | Celadon Group, Inc |
4,563 | |||||
| 2,041 |
CH Robinson Worldwide, Inc |
114,929 | ||||||
| 795 |
Con-Way, Inc |
30,973 | ||||||
| 448 |
Copa Holdings S.A. (Class A) |
58,742 | ||||||
| 13,408 |
CSX Corp |
310,932 | ||||||
| 11,115 |
* | Delta Air Lines, Inc |
207,962 | |||||
| 134 |
* | Echo Global Logistics, Inc |
2,612 | |||||
| 2,709 |
Expeditors International of Washington, Inc |
102,969 | ||||||
| 4,157 |
FedEx Corp |
409,797 | ||||||
| 548 |
Forward Air Corp |
20,977 | ||||||
| 566 |
* | Genesee & Wyoming, Inc (Class A) |
48,019 | |||||
| 633 |
* | Hawaiian Holdings, Inc |
3,868 | |||||
| 666 |
Heartland Express, Inc |
9,237 | ||||||
78
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 4,497 |
* | Hertz Global Holdings, Inc |
$ | 111,526 | ||||
| 500 |
* | Hub Group, Inc (Class A) |
18,210 | |||||
| 64 |
International Shipholding Corp |
1,493 | ||||||
| 1,169 |
J.B. Hunt Transport Services, Inc |
84,449 | ||||||
| 2,933 |
*,e | JetBlue Airways Corp |
18,478 | |||||
| 1,445 |
Kansas City Southern Industries, Inc |
153,112 | ||||||
| 734 |
* | Kirby Corp |
58,382 | |||||
| 691 |
Knight Transportation, Inc |
11,623 | ||||||
| 644 |
Landstar System, Inc |
33,166 | ||||||
| 576 |
Marten Transport Ltd |
9,026 | ||||||
| 519 |
Matson, Inc |
12,975 | ||||||
| 4,137 |
Norfolk Southern Corp |
300,553 | ||||||
| 931 |
* | Old Dominion Freight Line |
38,748 | |||||
| 443 |
* | Pacer International, Inc |
2,795 | |||||
| 96 |
* | Park-Ohio Holdings Corp |
3,166 | |||||
| 48 |
* | Patriot Transportation Holding, Inc |
1,442 | |||||
| 772 |
* | Quality Distribution, Inc |
6,824 | |||||
| 908 |
* | Republic Airways Holdings, Inc |
10,288 | |||||
| 231 |
* | Roadrunner Transportation Services Holdings, Inc |
6,431 | |||||
| 655 |
Ryder System, Inc |
39,817 | ||||||
| 359 |
* | Saia, Inc |
10,744 | |||||
| 692 |
Skywest, Inc |
9,370 | ||||||
| 9,469 |
Southwest Airlines Co |
122,055 | ||||||
| 790 |
* | Spirit Airlines, Inc |
25,098 | |||||
| 985 |
* | Swift Transportation Co, Inc |
16,292 | |||||
| 4,328 |
* | UAL Corp |
135,423 | |||||
| 6,123 |
Union Pacific Corp |
944,656 | ||||||
| 9,499 |
United Parcel Service, Inc (Class B) |
821,474 | ||||||
| 68 |
Universal Truckload Services, Inc |
1,639 | ||||||
| 2,152 |
*,e | US Airways Group, Inc |
35,336 | |||||
| 1,203 |
UTI Worldwide, Inc |
19,813 | ||||||
| 511 |
e | Werner Enterprises, Inc |
12,351 | |||||
| 546 |
* | Wesco Aircraft Holdings, Inc |
10,139 | |||||
| 220 |
*,e | XPO Logistics, Inc |
3,980 | |||||
| 126 |
* | YRC Worldwide, Inc |
3,623 | |||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
4,574,231 | |||||||
|
|
|
|||||||
| UTILITIES - 3.3% |
| |||||||
| 8,134 |
AES Corp |
97,527 | ||||||
| 1,553 |
AGL Resources, Inc |
66,562 | ||||||
| 597 |
Allete, Inc |
29,760 | ||||||
| 1,411 |
Alliant Energy Corp |
71,143 | ||||||
| 3,162 |
Ameren Corp |
108,899 | ||||||
| 6,169 |
American Electric Power Co, Inc |
276,248 | ||||||
| 335 |
American States Water Co |
17,979 | ||||||
| 2,339 |
American Water Works Co, Inc |
96,437 | ||||||
| 1,843 |
Aqua America, Inc |
57,667 | ||||||
| 77 |
Artesian Resources Corp |
1,716 | ||||||
| 1,866 |
e | Atlantic Power Corp |
7,352 | |||||
| 1,189 |
Atmos Energy Corp |
48,820 | ||||||
| 749 |
Avista Corp |
20,238 | ||||||
| 557 |
Black Hills Corp |
27,154 | ||||||
| 624 |
California Water Service Group |
12,174 | ||||||
| 5,138 |
* | Calpine Corp |
109,080 | |||||
| 5,553 |
Centerpoint Energy, Inc |
130,440 | ||||||
| 107 |
Chesapeake Utilities Corp |
5,509 | ||||||
| 757 |
Cleco Corp |
35,148 | ||||||
| 3,466 |
CMS Energy Corp |
94,171 | ||||||
| 98 |
Connecticut Water Service, Inc |
2,813 | ||||||
| 3,841 |
Consolidated Edison, Inc |
223,969 | ||||||
| 160 |
Consolidated Water Co, Inc |
1,829 | ||||||
| 90 |
Delta Natural Gas Co, Inc |
1,912 | ||||||
| 7,593 |
Dominion Resources, Inc |
431,434 | ||||||
| 2,254 |
DTE Energy Co |
151,041 | ||||||
| 9,255 |
Duke Energy Corp |
624,712 | ||||||
79
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,312 |
* | Dynegy, Inc |
$ | 29,586 | ||||
| 4,173 |
Edison International |
200,972 | ||||||
| 600 |
El Paso Electric Co |
21,186 | ||||||
| 648 |
Empire District Electric Co |
14,457 | ||||||
| 2,251 |
Entergy Corp |
156,850 | ||||||
| 11,226 |
Exelon Corp |
346,659 | ||||||
| 5,427 |
FirstEnergy Corp |
202,644 | ||||||
| 164 |
Genie Energy Ltd |
1,501 | ||||||
| 2,017 |
Great Plains Energy, Inc |
45,463 | ||||||
| 1,294 |
e | Hawaiian Electric Industries, Inc |
32,751 | |||||
| 750 |
Idacorp, Inc |
35,820 | ||||||
| 1,029 |
Integrys Energy Group, Inc |
60,227 | ||||||
| 695 |
ITC Holdings Corp |
63,453 | ||||||
| 400 |
Laclede Group, Inc |
18,264 | ||||||
| 2,402 |
MDU Resources Group, Inc |
62,236 | ||||||
| 419 |
MGE Energy, Inc |
22,944 | ||||||
| 155 |
Middlesex Water Co |
3,088 | ||||||
| 960 |
National Fuel Gas Co |
55,632 | ||||||
| 646 |
New Jersey Resources Corp |
26,828 | ||||||
| 5,590 |
NextEra Energy, Inc |
455,473 | ||||||
| 4,022 |
NiSource, Inc |
115,190 | ||||||
| 4,073 |
Northeast Utilities |
171,147 | ||||||
| 333 |
Northwest Natural Gas Co |
14,146 | ||||||
| 497 |
NorthWestern Corp |
19,830 | ||||||
| 4,229 |
NRG Energy, Inc |
112,914 | ||||||
| 3,129 |
NV Energy, Inc |
73,406 | ||||||
| 1,291 |
OGE Energy Corp |
88,046 | ||||||
| 2,664 |
Oneok, Inc |
110,050 | ||||||
| 240 |
Ormat Technologies, Inc |
5,645 | ||||||
| 540 |
Otter Tail Corp |
15,336 | ||||||
| 3,306 |
Pepco Holdings, Inc |
66,649 | ||||||
| 5,797 |
PG&E Corp |
265,097 | ||||||
| 974 |
Piedmont Natural Gas Co, Inc |
32,863 | ||||||
| 1,446 |
Pinnacle West Capital Corp |
80,210 | ||||||
| 1,049 |
PNM Resources, Inc |
23,277 | ||||||
| 1,142 |
Portland General Electric Co |
34,934 | ||||||
| 7,698 |
PPL Corp |
232,941 | ||||||
| 6,572 |
Public Service Enterprise Group, Inc |
214,642 | ||||||
| 2,262 |
Questar Corp |
53,949 | ||||||
| 1,785 |
SCANA Corp |
87,644 | ||||||
| 3,192 |
Sempra Energy |
260,978 | ||||||
| 138 |
SJW Corp |
3,616 | ||||||
| 487 |
South Jersey Industries, Inc |
27,959 | ||||||
| 11,450 |
Southern Co |
505,288 | ||||||
| 587 |
Southwest Gas Corp |
27,466 | ||||||
| 2,812 |
TECO Energy, Inc |
48,338 | ||||||
| 1,493 |
UGI Corp |
58,391 | ||||||
| 895 |
UIL Holdings Corp |
34,234 | ||||||
| 126 |
Unitil Corp |
3,639 | ||||||
| 511 |
UNS Energy Corp |
22,857 | ||||||
| 1,082 |
Vectren Corp |
36,604 | ||||||
| 1,603 |
Westar Energy, Inc |
51,232 | ||||||
| 691 |
WGL Holdings, Inc |
29,865 | ||||||
| 2,979 |
Wisconsin Energy Corp |
122,109 | ||||||
| 6,471 |
Xcel Energy, Inc |
183,388 | ||||||
| 142 |
York Water Co |
2,702 | ||||||
|
|
|
|||||||
| TOTAL UTILITIES |
7,844,350 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $172,109,011) |
235,474,509 | |||||||
|
|
|
|||||||
80
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| RIGHTS / WARRANTS - 0.0% |
| |||||||
| AUTOMOBILES & COMPONENTS - 0.0% |
| |||||||
| 261 |
Federal-Mogul Corp |
$ | 44 | |||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
44 | |||||||
|
|
|
|||||||
| ENERGY - 0.0% |
||||||||
| 178 |
e | Magnum Hunter Resources Corp |
25 | |||||
|
|
|
|||||||
| TOTAL ENERGY |
25 | |||||||
|
|
|
|||||||
| TOTAL RIGHTS / WARRANTS (Cost $0) |
69 | |||||||
|
|
|
|||||||
| SHORT-TERM INVESTMENTS - 2.7% |
| |||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.7% |
| |||||||
| 6,313,596 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
6,313,596 | |||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
6,313,596 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,313,596) |
6,313,596 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 101.9% (Cost $178,422,607) |
241,788,174 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (1.9)% |
(4,467,587 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 237,320,587 | ||||||
|
|
|
|||||||
Abbreviation(s):
| REIT | Real Estate Investment Trust |
| * | 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 transactions. |
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan is $6,136,727. |
| m | Indicates a security that has been deemed illiquid. |
81
TIAA-CREF LIFE FUNDS - International Equity Fund
TIAA-CREF LIFE FUNDS
INTERNATIONAL EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2013
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 99.6% |
||||||||
| FRANCE - 11.8% |
| |||||||
| 3,267 |
Atos Origin S.A. |
$ | 242,797 | |||||
| 55,020 |
BNP Paribas |
3,012,071 | ||||||
| 19,147 |
Compagnie Generale d’Optique Essilor International S.A. |
2,039,879 | ||||||
| 3,995 |
Nexity |
148,275 | ||||||
| 48,338 |
Renault S.A. |
3,255,925 | ||||||
| 10,087 |
* | Rexel S.A. |
227,268 | |||||
| 1,583 |
Technip S.A. |
160,884 | ||||||
| 7,690 |
Vinci S.A. |
385,735 | ||||||
|
|
|
|||||||
| TOTAL FRANCE |
9,472,834 | |||||||
|
|
|
|||||||
| GERMANY - 13.7% |
| |||||||
| 38,274 |
Bayer AG. |
4,075,053 | ||||||
| 8,434 |
Continental AG. |
1,124,328 | ||||||
| 37,371 |
Deutsche Post AG. |
927,474 | ||||||
| 37,384 |
* | Evonik Industries AG. |
1,323,575 | |||||
| 21,040 |
Henkel KGaA (Preference) |
1,975,860 | ||||||
| 16,797 |
e | Lanxess AG. |
1,011,551 | |||||
| 3,812 |
Merck KGaA |
579,728 | ||||||
|
|
|
|||||||
| TOTAL GERMANY |
11,017,569 | |||||||
|
|
|
|||||||
| HONG KONG - 0.8% |
| |||||||
| 194,000 |
Hang Lung Properties Ltd |
671,983 | ||||||
| 496 |
e | Hong Kong Exchanges and Clearing Ltd |
7,449 | |||||
|
|
|
|||||||
| TOTAL HONG KONG |
679,432 | |||||||
|
|
|
|||||||
| INDIA - 4.9% |
| |||||||
| 129,848 |
HDFC Bank Ltd |
1,454,735 | ||||||
| 92,600 |
IndusInd Bank Ltd |
725,656 | ||||||
| 188,535 |
Mahindra & Mahindra Financial Services Ltd |
824,952 | ||||||
| 379,848 |
Mundra Port and Special Economic Zone Ltd |
959,034 | ||||||
|
|
|
|||||||
| TOTAL INDIA |
3,964,377 | |||||||
|
|
|
|||||||
| INDONESIA - 0.9% |
| |||||||
| 1,013,000 |
PT Indofood Sukses Makmur Tbk |
747,212 | ||||||
|
|
|
|||||||
| TOTAL INDONESIA |
747,212 | |||||||
|
|
|
|||||||
| ITALY - 1.3% |
| |||||||
| 222,318 |
UniCredit S.p.A |
1,039,311 | ||||||
|
|
|
|||||||
| TOTAL ITALY |
1,039,311 | |||||||
|
|
|
|||||||
| JAPAN - 14.6% |
| |||||||
| 55,200 |
Asics Corp |
869,932 | ||||||
| 31,100 |
e | Canon, Inc |
1,019,249 | |||||
| 1,700 |
Daikin Industries Ltd |
68,714 | ||||||
| 6,822 |
Denso Corp |
320,724 | ||||||
| 8,500 |
e | Don Quijote Co Ltd |
412,628 | |||||
| 550 |
Fanuc Ltd |
79,600 | ||||||
| 2,500 |
Fast Retailing Co Ltd |
843,761 | ||||||
| 122,000 |
Hitachi Ltd |
781,714 | ||||||
| 1,103 |
e | Kao Corp |
37,548 | |||||
| 980 |
Komatsu Ltd |
22,571 | ||||||
| 129,000 |
* | Mazda Motor Corp |
509,993 | |||||
| 993 |
Mitsubishi Corp |
16,964 | ||||||
82
TIAA-CREF LIFE FUNDS - International Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 8,016 |
Mitsubishi Electric Corp |
$ | 74,902 | |||||
| 11,000 |
Mitsubishi Heavy Industries Ltd |
61,155 | ||||||
| 30,253 |
Mitsubishi UFJ Financial Group, Inc |
186,839 | ||||||
| 5,000 |
Mitsui Trust Holdings, Inc |
23,329 | ||||||
| 550 |
Nitto Denko Corp |
35,275 | ||||||
| 1,050 |
NOK Corp |
16,647 | ||||||
| 1,553 |
Nomura Holdings, Inc |
11,431 | ||||||
| 97,625 |
* | Olympus Corp |
2,966,569 | |||||
| 35,000 |
e | Sekisui House Ltd |
505,697 | |||||
| 16,550 |
Shin-Etsu Chemical Co Ltd |
1,095,366 | ||||||
| 950 |
e | Sony Corp |
20,070 | |||||
| 1,850 |
Sumitomo Corp |
23,058 | ||||||
| 204,000 |
Sumitomo Heavy Industries Ltd |
856,622 | ||||||
| 2,200 |
Sumitomo Metal Mining Co Ltd |
24,505 | ||||||
| 2,000 |
Suruga Bank Ltd |
36,269 | ||||||
| 12,800 |
Toyota Motor Corp |
772,068 | ||||||
| 1,600 |
United Arrows Ltd |
66,846 | ||||||
|
|
|
|||||||
| TOTAL JAPAN |
11,760,046 | |||||||
|
|
|
|||||||
| MACAU - 1.8% |
||||||||
| 530,000 |
Wynn Macau Ltd |
1,425,580 | ||||||
|
|
|
|||||||
| TOTAL MACAU |
1,425,580 | |||||||
|
|
|
|||||||
| MEXICO - 1.2% |
||||||||
| 94,873 |
* | Cemex SAB de C.V. (ADR) |
1,003,756 | |||||
|
|
|
|||||||
| TOTAL MEXICO |
1,003,756 | |||||||
|
|
|
|||||||
| NETHERLANDS - 1.3% |
||||||||
| 116,002 |
* | ING Groep NV |
1,060,152 | |||||
| 301 |
Royal Dutch Shell plc (A Shares) |
9,615 | ||||||
|
|
|
|||||||
| TOTAL NETHERLANDS |
1,069,767 | |||||||
|
|
|
|||||||
| PORTUGAL - 0.4% |
||||||||
| 13,443 |
Jeronimo Martins SGPS S.A. |
283,332 | ||||||
|
|
|
|||||||
| TOTAL PORTUGAL |
283,332 | |||||||
|
|
|
|||||||
| SINGAPORE - 0.3% |
||||||||
| 208,000 |
e | Genting International plc |
215,684 | |||||
|
|
|
|||||||
| TOTAL SINGAPORE |
215,684 | |||||||
|
|
|
|||||||
| SWEDEN - 7.1% |
||||||||
| 18,705 |
Assa Abloy AB (Class B) |
731,025 | ||||||
| 179,022 |
e | SKF AB (B Shares) |
4,193,968 | |||||
| 52,799 |
Trelleborg AB (B Shares) |
791,821 | ||||||
|
|
|
|||||||
| TOTAL SWEDEN |
5,716,814 | |||||||
|
|
|
|||||||
| SWITZERLAND - 15.8% |
||||||||
| 57,350 |
Adecco S.A. |
3,266,193 | ||||||
| 3,595 |
Burckhardt Compression Holding AG. |
1,431,073 | ||||||
| 157,377 |
Clariant AG. |
2,218,448 | ||||||
| 1,282 |
Credit Suisse Group |
33,940 | ||||||
| 91 |
Givaudan S.A. |
117,260 | ||||||
| 34,657 |
Holcim Ltd |
2,412,345 | ||||||
| 28,318 |
Novartis AG. |
2,005,780 | ||||||
| 5,281 |
Swatch Group AG. Reg |
496,594 | ||||||
| 43,890 |
UBS AG. (Switzerland) |
744,981 | ||||||
|
|
|
|||||||
| TOTAL SWITZERLAND |
12,726,614 | |||||||
|
|
|
|||||||
| UNITED KINGDOM - 23.7% |
||||||||
| 3,908 |
* | Afren plc |
7,704 | |||||
| 39,356 |
Barclays plc |
167,607 | ||||||
83
TIAA-CREF LIFE FUNDS - International Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 5,987 |
BG Group plc |
$ | 101,743 | |||||
| 73,598 |
British Sky Broadcasting plc |
886,631 | ||||||
| 96,218 |
Drax Group plc |
853,857 | ||||||
| 195,383 |
Filtrona plc |
2,089,307 | ||||||
| 16,031 |
Imperial Tobacco Group plc |
555,869 | ||||||
| 2,982,930 |
* | Lloyds TSB Group plc |
2,864,540 | |||||
| 1,037,456 |
Man Group plc |
1,310,534 | ||||||
| 344,367 |
* | Ocado Ltd |
1,562,391 | |||||
| 22,618 |
Reckitt Benckiser Group plc |
1,599,918 | ||||||
| 132,929 |
Reed Elsevier plc |
1,511,691 | ||||||
| 345,225 |
Tate & Lyle plc |
4,331,421 | ||||||
| 47,218 |
Travis Perkins plc |
1,045,514 | ||||||
| 3,961 |
Whitbread plc |
184,264 | ||||||
|
|
|
|||||||
| TOTAL UNITED KINGDOM |
19,072,991 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $76,715,704) |
80,195,319 | |||||||
|
|
|
|||||||
| SHORT-TERM INVESTMENTS - 6.0% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 6.0% |
| |||||||
| 4,795,142 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
4,795,142 | |||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
4,795,142 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,795,142) |
4,795,142 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 105.6% (Cost $81,510,846) |
84,990,461 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (5.6)% |
(4,534,411 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 80,456,050 | ||||||
|
|
|
|||||||
Abbreviation(s):
| ADR | American Depositary Receipt |
| * | Non-income producing |
| c | Investments made with cash collateral received from securities on loan. |
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan is $4,500,503. |
84
TIAA-CREF LIFE FUNDS - International Equity Fund
TIAA-CREF LIFE FUNDS
INTERNATIONAL EQUITY FUND
SUMMARY OF MARKET VALUES BY SECTOR (unaudited)
June 30, 2013
|
SECTOR |
VALUE | % OF NET ASSETS |
||||||
| INDUSTRIALS |
$ | 15,162,690 | 18.8 | % | ||||
| CONSUMER DISCRETIONARY |
15,149,729 | 18.8 | ||||||
| FINANCIALS |
14,175,780 | 17.6 | ||||||
| HEALTH CARE |
11,667,008 | 14.5 | ||||||
| MATERIALS |
11,331,389 | 14.1 | ||||||
| CONSUMER STAPLES |
9,531,159 | 11.8 | ||||||
| INFORMATION TECHNOLOGY |
2,043,761 | 2.5 | ||||||
| UTILITIES |
853,857 | 1.1 | ||||||
| ENERGY |
279,946 | 0.4 | ||||||
| SHORT - TERM INVESTMENTS |
4,795,142 | 6.0 | ||||||
| OTHER ASSETS & LIABILITIES, NET |
(4,534,411 | ) | (5.6 | ) | ||||
|
|
|
|
|
|||||
| NET ASSETS |
$ | 80,456,050 | 100.0 | % | ||||
|
|
|
|
|
|||||
85
TIAA-CREF FUNDS - Bond Fund
TIAA-CREF LIFE FUNDS
BOND FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2013
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| BANK LOAN OBLIGATIONS - 0.4% |
| |||||||||||||||
| CAPITAL GOODS - 0.1% |
| |||||||||||||||
| $ 200,000 |
h,i | Apex Tool Group LLC |
4.500 | % | 02/01/20 | $ | 199,800 | |||||||||
|
|
|
|||||||||||||||
| TOTAL CAPITAL GOODS |
|
199,800 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES - 0.1% |
| |||||||||||||||
| 225,000 |
i | ARAMARK Corp |
3.500 | 09/07/19 | 224,156 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL CONSUMER SERVICES |
|
224,156 | ||||||||||||||
|
|
|
|||||||||||||||
| MEDIA - 0.2% |
| |||||||||||||||
| 100,000 |
h,i | Univision Communications, Inc |
4.500 | 03/01/20 | 97,854 | |||||||||||
| 199,000 |
i | Windstream Corp |
4.000 | 01/23/20 | 198,877 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL MEDIA |
|
296,731 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL BANK LOAN OBLIGATIONS (Cost $723,184) |
720,687 | |||||||||||||||
|
|
|
|||||||||||||||
| BONDS - 95.6% |
| |||||||||||||||
| CORPORATE BONDS - 38.2% |
| |||||||||||||||
| BANKS - 3.8% |
| |||||||||||||||
| 200,000 |
g | Banco de Credito del Peru |
5.375 | 09/16/20 | 204,500 | |||||||||||
| 200,000 |
g | Banco de Credito e Inversiones |
4.000 | 02/11/23 | 188,556 | |||||||||||
| 150,000 |
g | Banco del Estado de Chile |
3.875 | 02/08/22 | 145,472 | |||||||||||
| 200,000 |
g | Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand |
4.125 | 11/09/22 | 187,500 | |||||||||||
| 110,000 |
Bancolombia S.A. |
5.950 | 06/03/21 | 116,875 | ||||||||||||
| 200,000 |
g | Bank of India |
3.625 | 09/21/18 | 187,680 | |||||||||||
| 150,000 |
g | Bank of Tokyo-Mitsubishi UFJ Ltd |
2.350 | 02/23/17 | 151,607 | |||||||||||
| 50,000 |
BB&T Corp |
2.050 | 06/19/18 | 49,272 | ||||||||||||
| 60,000 |
g | BBVA Banco Continental S.A. |
3.250 | 04/08/18 | 58,350 | |||||||||||
| 250,000 |
BDO Unibank, Inc |
4.500 | 02/16/17 | 252,708 | ||||||||||||
| 400,000 |
g | Caixa Economica Federal |
2.375 | 11/06/17 | 369,000 | |||||||||||
| 60,000 |
Capital One Bank USA NA |
3.375 | 02/15/23 | 56,715 | ||||||||||||
| 75,000 |
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA |
3.875 | 02/08/22 | 75,527 | ||||||||||||
| 100,000 |
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA |
3.950 | 11/09/22 | 95,627 | ||||||||||||
| 75,000 |
g | HSBC Bank plc |
3.100 | 05/24/16 | 78,688 | |||||||||||
| 150,000 |
g | HSBC Bank plc |
4.125 | 08/12/20 | 157,118 | |||||||||||
| 225,000 |
HSBC USA, Inc |
2.375 | 02/13/15 | 229,923 | ||||||||||||
| 150,000 |
HSBC USA, Inc |
1.625 | 01/16/18 | 146,342 | ||||||||||||
| 250,000 |
g | Hutchison Whampoa International 12 II Ltd |
2.000 | 11/08/17 | 242,737 | |||||||||||
| 60,000 |
JPMorgan Chase & Co |
5.125 | 09/15/14 | 62,950 | ||||||||||||
| 300,000 |
JPMorgan Chase & Co |
1.625 | 05/15/18 | 287,603 | ||||||||||||
| 100,000 |
i | JPMorgan Chase & Co |
5.150 | 12/30/49 | 95,250 | |||||||||||
| 50,000 |
PNC Bank NA |
2.700 | 11/01/22 | 45,351 | ||||||||||||
| 600,000 |
PNC Bank NA |
2.950 | 01/30/23 | 553,524 | ||||||||||||
| 100,000 |
PNC Funding Corp |
5.125 | 02/08/20 | 109,877 | ||||||||||||
| 140,000 |
g,i | Rabobank Nederland NV |
11.000 | 12/30/49 | 179,550 | |||||||||||
| 500,000 |
Royal Bank of Canada |
1.200 | 09/19/17 | 487,830 | ||||||||||||
| 250,000 |
g | Standard Chartered plc |
3.950 | 01/11/23 | 232,562 | |||||||||||
| 200,000 |
g | State Bank of India |
3.250 | 04/18/18 | 187,300 | |||||||||||
| 100,000 |
g | Sumitomo Mitsui Banking Corp |
3.150 | 07/22/15 | 104,166 | |||||||||||
| 50,000 |
Toronto-Dominion Bank |
2.500 | 07/14/16 | 51,831 | ||||||||||||
| 200,000 |
g | Turkiye Halk Bankasi AS. |
3.875 | 02/05/20 | 180,000 | |||||||||||
| 150,000 |
Union Bank NA |
2.125 | 06/16/17 | 149,843 | ||||||||||||
| 150,000 |
Union Bank of California NA |
5.950 | 05/11/16 | 168,120 | ||||||||||||
| 125,000 |
UnionBanCal Corp |
3.500 | 06/18/22 | 122,376 | ||||||||||||
86
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 200,000 |
US Bancorp |
1.650 | % | 05/15/17 | $ | 199,383 | ||||||||||
| 125,000 |
US Bancorp |
2.950 | 07/15/22 | 115,956 | ||||||||||||
| 100,000 |
Wachovia Bank NA |
5.850 | 02/01/37 | 111,436 | ||||||||||||
| 350,000 |
Wells Fargo & Co |
1.500 | 07/01/15 | 353,988 | ||||||||||||
| 200,000 |
Wells Fargo & Co |
1.500 | 01/16/18 | 195,065 | ||||||||||||
| 50,000 |
Westpac Banking Corp |
3.000 | 08/04/15 | 52,120 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL BANKS |
|
7,040,278 | ||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS - 1.3% |
| |||||||||||||||
| 200,000 |
Caterpillar, Inc |
1.375 | 05/27/14 | 201,529 | ||||||||||||
| 250,000 |
Caterpillar, Inc |
1.500 | 06/26/17 | 247,486 | ||||||||||||
| 100,000 |
g | EADS Finance BV |
2.700 | 04/17/23 | 92,659 | |||||||||||
| 200,000 |
g | Ferreycorp SAA |
4.875 | 04/26/20 | 188,000 | |||||||||||
| 100,000 |
g | Myriad International Holding BV |
6.375 | 07/28/17 | 109,500 | |||||||||||
| 100,000 |
g | Schaeffler Finance BV |
4.750 | 05/15/21 | 95,000 | |||||||||||
| 150,000 |
Seagate HDD Cayman |
7.000 | 11/01/21 | 160,500 | ||||||||||||
| 300,000 |
g | Seagate HDD Cayman |
4.750 | 06/01/23 | 279,750 | |||||||||||
| 111,000 |
g | Sealed Air Corp |
8.125 | 09/15/19 | 123,765 | |||||||||||
| 111,000 |
g | Sealed Air Corp |
8.375 | 09/15/21 | 125,430 | |||||||||||
| 70,000 |
g | Sealed Air Corp |
5.250 | 04/01/23 | 68,075 | |||||||||||
| 120,000 |
SPX Corp |
6.875 | 09/01/17 | 129,600 | ||||||||||||
| 200,000 |
g | Turlock Corp |
1.500 | 11/02/17 | 194,143 | |||||||||||
| 100,000 |
g | Turlock Corp |
4.000 | 11/02/32 | 93,499 | |||||||||||
| 125,000 |
United Technologies Corp |
1.800 | 06/01/17 | 125,458 | ||||||||||||
| 50,000 |
United Technologies Corp |
4.500 | 06/01/42 | 49,305 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL CAPITAL GOODS |
|
2,283,699 | ||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.3% |
| |||||||||||||||
| 75,000 |
Republic Services, Inc |
3.800 | 05/15/18 | 79,219 | ||||||||||||
| 250,000 |
Republic Services, Inc |
3.550 | 06/01/22 | 243,309 | ||||||||||||
| 40,000 |
Republic Services, Inc |
6.200 | 03/01/40 | 45,624 | ||||||||||||
| 250,000 |
Waste Management, Inc |
2.600 | 09/01/16 | 258,188 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
|
626,340 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL - 0.6% |
| |||||||||||||||
| 275,000 |
DR Horton, Inc |
4.750 | 05/15/17 | 283,938 | ||||||||||||
| 130,000 |
Hanesbrands, Inc |
6.375 | 12/15/20 | 138,612 | ||||||||||||
| 100,000 |
Phillips-Van Heusen Corp |
7.375 | 05/15/20 | 108,500 | ||||||||||||
| 400,000 |
PVH Corp |
4.500 | 12/15/22 | 384,000 | ||||||||||||
| 100,000 |
Whirlpool Corp |
3.700 | 03/01/23 | 95,841 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL CONSUMER DURABLES & APPAREL |
|
1,010,891 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES - 0.6% |
| |||||||||||||||
| 100,000 |
Ameristar Casinos, Inc |
7.500 | 04/15/21 | 104,000 | ||||||||||||
| 100,000 |
g | ARAMARK Corp |
5.750 | 03/15/20 | 102,250 | |||||||||||
| 150,000 |
DineEquity, Inc |
9.500 | 10/30/18 | 166,500 | ||||||||||||
| 150,000 |
g | SABMiller Holdings, Inc |
3.750 | 01/15/22 | 152,653 | |||||||||||
| 100,000 |
g | SABMiller Holdings, Inc |
4.950 | 01/15/42 | 99,438 | |||||||||||
| 200,000 |
g | Transnet SOC Ltd |
4.000 | 07/26/22 | 174,880 | |||||||||||
| 100,000 |
Walt Disney Co |
0.450 | 12/01/15 | 99,541 | ||||||||||||
| 200,000 |
Walt Disney Co |
1.125 | 02/15/17 | 196,586 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL CONSUMER SERVICES |
|
1,095,848 | ||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS - 5.2% |
| |||||||||||||||
| 100,000 |
g | Abbey National Treasury Services plc |
3.875 | 11/10/14 | 102,974 | |||||||||||
| 40,000 |
Abbey National Treasury Services plc |
4.000 | 04/27/16 | 42,265 | ||||||||||||
| 150,000 |
g | Ajecorp BV |
6.500 | 05/14/22 | 152,700 | |||||||||||
| 250,000 |
American Express Centurion Bank |
0.875 | 11/13/15 | 249,376 | ||||||||||||
| 125,000 |
American Express Centurion Bank |
6.000 | 09/13/17 | 143,643 | ||||||||||||
| 225,000 |
American Express Credit Corp |
1.750 | 06/12/15 | 228,053 | ||||||||||||
| 50,000 |
American Express Credit Corp |
2.800 | 09/19/16 | 51,911 | ||||||||||||
87
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 100,000 |
g | Bangkok Bank PCL |
4.800 | % | 10/18/20 | $ | 103,359 | |||||||||
| 200,000 |
Bank of America Corp |
5.300 | 03/15/17 | 216,917 | ||||||||||||
| 75,000 |
Bank of America Corp |
5.750 | 12/01/17 | 83,353 | ||||||||||||
| 500,000 |
Bank of America Corp |
2.000 | 01/11/18 | 484,307 | ||||||||||||
| 150,000 |
Bank of America Corp |
5.875 | 02/07/42 | 167,702 | ||||||||||||
| 50,000 |
Bank of New York Mellon Corp |
5.450 | 05/15/19 | 57,757 | ||||||||||||
| 150,000 |
g | BBVA Bancomer S.A. |
4.500 | 03/10/16 | 155,625 | |||||||||||
| 175,000 |
g | BBVA Bancomer S.A. |
6.750 | 09/30/22 | 189,000 | |||||||||||
| 50,000 |
BlackRock, Inc |
3.500 | 12/10/14 | 52,017 | ||||||||||||
| 150,000 |
BlackRock, Inc |
4.250 | 05/24/21 | 160,059 | ||||||||||||
| 100,000 |
BlackRock, Inc |
3.375 | 06/01/22 | 99,973 | ||||||||||||
| 50,000 |
Capital One Financial Corp |
3.150 | 07/15/16 | 51,932 | ||||||||||||
| 400,000 |
Capital One Financial Corp |
4.750 | 07/15/21 | 421,889 | ||||||||||||
| 100,000 |
Citigroup, Inc |
2.250 | 08/07/15 | 101,681 | ||||||||||||
| 50,000 |
Citigroup, Inc |
5.000 | 09/15/14 | 51,961 | ||||||||||||
| 75,000 |
Citigroup, Inc |
5.500 | 10/15/14 | 78,884 | ||||||||||||
| 350,000 |
Citigroup, Inc |
3.500 | 05/15/23 | 314,346 | ||||||||||||
| 350,000 |
Citigroup, Inc |
5.875 | 01/30/42 | 385,103 | ||||||||||||
| 65,000 |
Ford Motor Credit Co LLC |
4.250 | 02/03/17 | 67,914 | ||||||||||||
| 250,000 |
Ford Motor Credit Co LLC |
3.000 | 06/12/17 | 250,527 | ||||||||||||
| 35,000 |
Ford Motor Credit Co LLC |
6.625 | 08/15/17 | 39,613 | ||||||||||||
| 275,000 |
Ford Motor Credit Co LLC |
2.375 | 01/16/18 | 264,783 | ||||||||||||
| 200,000 |
General Electric Capital Corp |
1.875 | 09/16/13 | 200,642 | ||||||||||||
| 750,000 |
General Electric Capital Corp |
3.100 | 01/09/23 | 708,499 | ||||||||||||
| 125,000 |
g | General Motors Financial Co, Inc |
2.750 | 05/15/16 | 122,969 | |||||||||||
| 150,000 |
Goldman Sachs Group, Inc |
3.300 | 05/03/15 | 154,608 | ||||||||||||
| 25,000 |
Goldman Sachs Group, Inc |
6.750 | 10/01/37 | 25,609 | ||||||||||||
| 50,000 |
Goldman Sachs Group, Inc |
6.250 | 02/01/41 | 56,549 | ||||||||||||
| 165,000 |
HSBC Finance Corp |
4.750 | 07/15/13 | 165,218 | ||||||||||||
| 100,000 |
g | Hyundai Capital America, Inc |
3.750 | 04/06/16 | 103,758 | |||||||||||
| 200,000 |
g | Hyundai Capital Services, Inc |
3.500 | 09/13/17 | 203,649 | |||||||||||
| 35,000 |
g | International Lease Finance Corp |
6.500 | 09/01/14 | 36,400 | |||||||||||
| 130,000 |
International Lease Finance Corp |
5.750 | 05/15/16 | 133,592 | ||||||||||||
| 100,000 |
International Lease Finance Corp |
3.875 | 04/15/18 | 94,000 | ||||||||||||
| 150,000 |
International Lease Finance Corp |
5.875 | 08/15/22 | 148,688 | ||||||||||||
| 200,000 |
g | Inversiones CMPC S.A. |
4.375 | 05/15/23 | 191,425 | |||||||||||
| 200,000 |
g | LUKOIL International Finance BV |
3.416 | 04/24/18 | 194,500 | |||||||||||
| 200,000 |
Merrill Lynch & Co, Inc |
6.400 | 08/28/17 | 225,833 | ||||||||||||
| 325,000 |
Morgan Stanley |
1.750 | 02/25/16 | 321,967 | ||||||||||||
| 250,000 |
Morgan Stanley |
6.375 | 07/24/42 | 278,915 | ||||||||||||
| 50,000 |
National Rural Utilities Cooperative Finance Corp |
10.375 | 11/01/18 | 69,274 | ||||||||||||
| 100,000 |
g | Reliance Holdings USA |
4.500 | 10/19/20 | 98,357 | |||||||||||
| 200,000 |
Sberbank of Russia Via SB Capital S.A. |
5.180 | 06/28/19 | 204,000 | ||||||||||||
| 75,000 |
State Street Corp |
4.300 | 05/30/14 | 77,651 | ||||||||||||
| 125,000 |
State Street Corp |
3.100 | 05/15/23 | 117,084 | ||||||||||||
| 100,000 |
SunTrust Bank |
2.750 | 05/01/23 | 92,009 | ||||||||||||
| 100,000 |
Toyota Motor Credit Corp |
2.050 | 01/12/17 | 101,149 | ||||||||||||
| 200,000 |
g | Turkiye Vakiflar Bankasi Tao |
3.750 | 04/15/18 | 188,000 | |||||||||||
| 250,000 |
g | UBS AG. |
1.875 | 01/23/15 | 254,450 | |||||||||||
| 50,000 |
Unilever Capital Corp |
4.800 | 02/15/19 | 56,655 | ||||||||||||
| 50,000 |
Unilever Capital Corp |
4.250 | 02/10/21 | 54,474 | ||||||||||||
| 75,000 |
g | Waha Aerospace BV |
3.925 | 07/28/20 | 78,000 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL DIVERSIFIED FINANCIALS |
|
9,527,548 | ||||||||||||||
|
|
|
|||||||||||||||
| ENERGY - 4.7% |
| |||||||||||||||
| 50,000 |
Anadarko Petroleum Corp |
5.950 | 09/15/16 | 56,084 | ||||||||||||
| 30,000 |
Anadarko Petroleum Corp |
6.950 | 06/15/19 | 36,046 | ||||||||||||
| 100,000 |
Apache Corp |
1.750 | 04/15/17 | 100,135 | ||||||||||||
| 205,000 |
Apache Corp |
4.750 | 04/15/43 | 194,445 | ||||||||||||
| 375,000 |
g | Ashland, Inc |
3.875 | 04/15/18 | 371,250 | |||||||||||
| 550,000 |
BP Capital Markets plc |
1.375 | 05/10/18 | 530,141 | ||||||||||||
| 250,000 |
Chevron Corp |
2.355 | 12/05/22 | 235,110 | ||||||||||||
| 155,000 |
Cimarex Energy Co |
5.875 | 05/01/22 | 160,425 | ||||||||||||
88
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 100,000 |
Cloud Peak Energy Resources LLC |
8.250 | % | 12/15/17 | $ | 105,250 | ||||||||||
| 150,000 |
Concho Resources, Inc |
5.500 | 04/01/23 | 147,750 | ||||||||||||
| 100,000 |
ConocoPhillips |
6.500 | 02/01/39 | 125,800 | ||||||||||||
| 105,000 |
Continental Resources, Inc |
5.000 | 09/15/22 | 106,837 | ||||||||||||
| 175,000 |
Devon Energy Corp |
1.875 | 05/15/17 | 172,628 | ||||||||||||
| 50,000 |
Devon Energy Corp |
5.600 | 07/15/41 | 51,811 | ||||||||||||
| 50,000 |
Devon Energy Corp |
4.750 | 05/15/42 | 46,674 | ||||||||||||
| 71,130 |
Dolphin Energy Ltd |
5.888 | 06/15/19 | 77,532 | ||||||||||||
| 200,000 |
g | Dolphin Energy Ltd |
5.500 | 12/15/21 | 216,000 | |||||||||||
| 300,000 |
g | EDC Finance Ltd |
4.875 | 04/17/20 | 274,500 | |||||||||||
| 162,000 |
g | Empresa Nacional del Petroleo |
4.750 | 12/06/21 | 158,061 | |||||||||||
| 25,000 |
Enbridge Energy Partners LP |
5.200 | 03/15/20 | 27,240 | ||||||||||||
| 25,000 |
Enterprise Products Operating LLC |
5.000 | 03/01/15 | 26,633 | ||||||||||||
| 250,000 |
Enterprise Products Operating LLC |
4.850 | 03/15/44 | 237,111 | ||||||||||||
| 75,000 |
EOG Resources, Inc |
2.625 | 03/15/23 | 70,181 | ||||||||||||
| 200,000 |
g | Gazprom OAO Via Gaz Capital S.A. |
3.850 | 02/06/20 | 186,000 | |||||||||||
| 75,000 |
Hess Corp |
5.600 | 02/15/41 | 76,949 | ||||||||||||
| 350,000 |
g | Indo Energy Finance II BV |
6.375 | 01/24/23 | 305,375 | |||||||||||
| 50,000 |
Marathon Petroleum Corp |
3.500 | 03/01/16 | 52,486 | ||||||||||||
| 50,000 |
Newfield Exploration Co |
5.625 | 07/01/24 | 48,500 | ||||||||||||
| 25,000 |
Noble Holding International Ltd |
3.450 | 08/01/15 | 25,919 | ||||||||||||
| 75,000 |
Noble Holding International Ltd |
4.900 | 08/01/20 | 78,989 | ||||||||||||
| 200,000 |
g | Novatek OAO via Novatek Finance Ltd |
4.422 | 12/13/22 | 183,500 | |||||||||||
| 75,000 |
Occidental Petroleum Corp |
1.500 | 02/15/18 | 73,312 | ||||||||||||
| 100,000 |
Occidental Petroleum Corp |
4.100 | 02/01/21 | 105,610 | ||||||||||||
| 110,000 |
Pemex Project Funding Master Trust |
6.625 | 06/15/35 | 115,500 | ||||||||||||
| 200,000 |
g | Pertamina Persero PT |
4.300 | 05/20/23 | 185,000 | |||||||||||
| 200,000 |
g | Pertamina PT |
5.250 | 05/23/21 | 198,000 | |||||||||||
| 100,000 |
i | Petrobras Global Finance BV |
1.894 | 05/20/16 | 99,400 | |||||||||||
| 100,000 |
i | Petrobras Global Finance BV |
2.414 | 01/15/19 | 98,000 | |||||||||||
| 190,000 |
Petrobras Global Finance BV |
4.375 | 05/20/23 | 174,295 | ||||||||||||
| 100,000 |
Petrobras International Finance Co |
3.875 | 01/27/16 | 102,883 | ||||||||||||
| 175,000 |
Petrobras International Finance Co |
3.500 | 02/06/17 | 174,221 | ||||||||||||
| 60,000 |
Petrobras International Finance Co |
7.875 | 03/15/19 | 69,382 | ||||||||||||
| 50,000 |
Petroleos Mexicanos |
4.875 | 03/15/15 | 52,563 | ||||||||||||
| 20,000 |
Petroleos Mexicanos |
8.000 | 05/03/19 | 24,200 | ||||||||||||
| 90,000 |
Petroleos Mexicanos |
5.500 | 01/21/21 | 95,850 | ||||||||||||
| 200,000 |
g | Petroleos Mexicanos |
3.500 | 01/30/23 | 184,500 | |||||||||||
| 110,000 |
Petroleos Mexicanos |
6.500 | 06/02/41 | 113,575 | ||||||||||||
| 125,000 |
Petroleos Mexicanos |
5.500 | 06/27/44 | 112,500 | ||||||||||||
| 100,000 |
g | Petroleum Co of Trinidad & Tobago Ltd |
9.750 | 08/14/19 | 124,500 | |||||||||||
| 100,000 |
Phillips 66 |
1.950 | 03/05/15 | 101,551 | ||||||||||||
| 100,000 |
Phillips 66 |
4.300 | 04/01/22 | 103,322 | ||||||||||||
| 45,000 |
Precision Drilling Corp |
6.500 | 12/15/21 | 45,563 | ||||||||||||
| 200,000 |
g | PTTEP Canada International Finance Ltd |
5.692 | 04/05/21 | 213,716 | |||||||||||
| 200,000 |
g | Rosneft Oil Co via Rosneft International Finance Ltd |
4.199 | 03/06/22 | 185,300 | |||||||||||
| 125,000 |
g | Schlumberger Investment S.A. |
2.400 | 08/01/22 | 115,972 | |||||||||||
| 75,000 |
Shell International Finance BV |
4.300 | 09/22/19 | 83,228 | ||||||||||||
| 25,000 |
Shell International Finance BV |
6.375 | 12/15/38 | 32,208 | ||||||||||||
| 200,000 |
g | Sibur Securities Ltd |
3.914 | 01/31/18 | 185,000 | |||||||||||
| 25,000 |
Statoil ASA |
2.900 | 10/15/14 | 25,720 | ||||||||||||
| 100,000 |
Statoil ASA |
1.200 | 01/17/18 | 97,256 | ||||||||||||
| 200,000 |
Statoil ASA |
2.450 | 01/17/23 | 185,276 | ||||||||||||
| 100,000 |
Total Capital Canada Ltd |
1.450 | 01/15/18 | 97,676 | ||||||||||||
| 150,000 |
Total Capital International S.A. |
1.500 | 02/17/17 | 148,988 | ||||||||||||
| 100,000 |
TransCanada Pipelines Ltd |
5.850 | 03/15/36 | 114,007 | ||||||||||||
| 185,000 |
Vale Overseas Ltd |
4.375 | 01/11/22 | 175,719 | ||||||||||||
| 25,000 |
Vale Overseas Ltd |
6.875 | 11/21/36 | 25,312 | ||||||||||||
| 50,000 |
Valero Energy Corp |
4.500 | 02/01/15 | 52,658 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL ENERGY |
|
8,577,125 | ||||||||||||||
|
|
|
|||||||||||||||
89
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| FOOD & STAPLES RETAILING - 0.5% |
| |||||||||||||||
| $ 50,000 |
CVS Caremark Corp |
3.250 | % | 05/18/15 | $ | 52,035 | ||||||||||
| 202,000 |
CVS Caremark Corp |
5.750 | 06/01/17 | 232,060 | ||||||||||||
| 460,000 |
CVS Caremark Corp |
4.125 | 05/15/21 | 486,148 | ||||||||||||
| 200,000 |
g | Ingles Markets, Inc |
5.750 | 06/15/23 | 197,500 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL FOOD & STAPLES RETAILING |
|
967,743 | ||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO - 1.0% |
| |||||||||||||||
| 100,000 |
g | Anadolu Efes Biracilik Ve Malt Sanayii AS. |
3.375 | 11/01/22 | 86,000 | |||||||||||
| 200,000 |
Anheuser-Busch InBev Worldwide, Inc |
2.875 | 02/15/16 | 209,267 | ||||||||||||
| 200,000 |
Anheuser-Busch InBev Worldwide, Inc |
1.375 | 07/15/17 | 196,840 | ||||||||||||
| 125,000 |
Anheuser-Busch InBev Worldwide, Inc |
2.500 | 07/15/22 | 116,700 | ||||||||||||
| 100,000 |
ConAgra Foods, Inc |
1.300 | 01/25/16 | 100,165 | ||||||||||||
| 55,000 |
General Mills, Inc |
5.200 | 03/17/15 | 59,069 | ||||||||||||
| 300,000 |
g | Grupo Bimbo SAB de C.V. |
4.500 | 01/25/22 | 300,029 | |||||||||||
| 100,000 |
g | Heineken NV |
4.000 | 10/01/42 | 85,162 | |||||||||||
| 100,000 |
g | HJ Heinz Finance Co |
7.125 | 08/01/39 | 106,000 | |||||||||||
| 25,000 |
Kraft Foods, Inc |
6.125 | 02/01/18 | 28,893 | ||||||||||||
| 50,000 |
Kraft Foods, Inc |
5.375 | 02/10/20 | 56,083 | ||||||||||||
| 135,000 |
Kraft Foods, Inc |
6.500 | 02/09/40 | 161,073 | ||||||||||||
| 5,000 |
PepsiCo, Inc |
7.900 | 11/01/18 | 6,404 | ||||||||||||
| 32,000 |
g | Pernod-Ricard S.A. |
5.750 | 04/07/21 | 35,549 | |||||||||||
| 100,000 |
Philip Morris International, Inc |
6.875 | 03/17/14 | 104,518 | ||||||||||||
| 100,000 |
TreeHouse Foods, Inc |
7.750 | 03/01/18 | 105,875 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
|
1,757,627 | ||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 0.8% |
| |||||||||||||||
| 110,000 |
Baxter International, Inc |
3.200 | 06/15/23 | 107,897 | ||||||||||||
| 50,000 |
Becton Dickinson and Co |
1.750 | 11/08/16 | 50,859 | ||||||||||||
| 100,000 |
Covidien International Finance S.A. |
1.350 | 05/29/15 | 100,863 | ||||||||||||
| 100,000 |
Covidien International Finance S.A. |
3.200 | 06/15/22 | 98,632 | ||||||||||||
| 500,000 |
Express Scripts Holding Co |
2.100 | 02/12/15 | 508,492 | ||||||||||||
| 100,000 |
Express Scripts Holding Co |
3.900 | 02/15/22 | 101,253 | ||||||||||||
| 130,000 |
g | Fresenius Medical Care Capital Trust |
5.750 | 02/15/21 | 136,500 | |||||||||||
| 40,000 |
HCA, Inc |
6.500 | 02/15/20 | 43,275 | ||||||||||||
| 150,000 |
HCA, Inc |
5.875 | 03/15/22 | 153,937 | ||||||||||||
| 100,000 |
g | Mallinckrodt International Finance S.A. |
3.500 | 04/15/18 | 98,856 | |||||||||||
| 75,000 |
Thermo Fisher Scientific, Inc |
2.250 | 08/15/16 | 76,099 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
|
1,476,663 | ||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 0.1% |
| |||||||||||||||
| 75,000 |
Clorox Co |
3.800 | 11/15/21 | 75,920 | ||||||||||||
| 50,000 |
Colgate-Palmolive Co |
2.300 | 05/03/22 | 47,233 | ||||||||||||
| 125,000 |
Ecolab, Inc |
1.450 | 12/08/17 | 121,410 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
|
244,563 | ||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE - 2.0% |
| |||||||||||||||
| 50,000 |
ACE INA Holdings, Inc |
5.875 | 06/15/14 | 52,368 | ||||||||||||
| 125,000 |
Aetna, Inc |
1.500 | 11/15/17 | 121,361 | ||||||||||||
| 100,000 |
Allstate Corp |
3.150 | 06/15/23 | 97,093 | ||||||||||||
| 100,000 |
Allstate Corp |
4.500 | 06/15/43 | 98,586 | ||||||||||||
| 150,000 |
American International Group, Inc |
3.650 | 01/15/14 | 152,167 | ||||||||||||
| 125,000 |
Berkshire Hathaway Finance Corp |
1.300 | 05/15/18 | 120,889 | ||||||||||||
| 250,000 |
g,i | Caelus Re Ltd |
5.270 | 03/07/16 | 246,925 | |||||||||||
| 100,000 |
Chubb Corp |
6.000 | 05/11/37 | 119,865 | ||||||||||||
| 20,000 |
CIGNA Corp |
5.125 | 06/15/20 | 21,709 | ||||||||||||
| 100,000 |
CIGNA Corp |
4.500 | 03/15/21 | 106,637 | ||||||||||||
| 75,000 |
Hartford Financial Services Group, Inc |
4.000 | 03/30/15 | 78,419 | ||||||||||||
| 100,000 |
Hartford Financial Services Group, Inc |
4.000 | 10/15/17 | 106,043 | ||||||||||||
| 25,000 |
Lincoln National Corp |
7.000 | 06/15/40 | 31,072 | ||||||||||||
| 50,000 |
g | MetLife Institutional Funding II |
1.625 | 04/02/15 | 50,634 | |||||||||||
90
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 100,000 |
Metlife, Inc |
6.750 | % | 06/01/16 | $ | 114,453 | ||||||||||
| 100,000 |
Principal Financial Group, Inc |
1.850 | 11/15/17 | 98,210 | ||||||||||||
| 100,000 |
g | Principal Life Global Funding I |
5.125 | 10/15/13 | 101,323 | |||||||||||
| 150,000 |
Progressive Corp |
3.750 | 08/23/21 | 152,863 | ||||||||||||
| 175,000 |
Prudential Financial, Inc |
5.400 | 06/13/35 | 175,284 | ||||||||||||
| 475,000 |
i | Prudential Financial, Inc |
5.200 | 03/15/44 | 448,875 | |||||||||||
| 100,000 |
g | Prudential Funding LLC |
6.750 | 09/15/23 | 111,903 | |||||||||||
| 100,000 |
g | Swiss Re Treasury US Corp |
2.875 | 12/06/22 | 92,920 | |||||||||||
| 125,000 |
g | Swiss Re Treasury US Corp |
4.250 | 12/06/42 | 109,983 | |||||||||||
| 25,000 |
Travelers Cos, Inc |
5.800 | 05/15/18 | 29,241 | ||||||||||||
| 125,000 |
UnitedHealth Group, Inc |
0.850 | 10/15/15 | 125,163 | ||||||||||||
| 100,000 |
UnitedHealth Group, Inc |
1.400 | 10/15/17 | 98,184 | ||||||||||||
| 125,000 |
UnitedHealth Group, Inc |
3.950 | 10/15/42 | 107,550 | ||||||||||||
| 250,000 |
WellPoint, Inc |
3.125 | 05/15/22 | 237,061 | ||||||||||||
| 150,000 |
WellPoint, Inc |
4.625 | 05/15/42 | 139,136 | ||||||||||||
| 150,000 |
Willis Group Holdings plc |
4.125 | 03/15/16 | 157,025 | ||||||||||||
| 25,000 |
WR Berkley Corp |
5.375 | 09/15/20 | 27,166 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL INSURANCE |
|
3,730,108 | ||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS - 3.1% |
| |||||||||||||||
| 125,000 |
3M Co |
5.700 | 03/15/37 | 150,064 | ||||||||||||
| 35,000 |
Air Products & Chemicals, Inc |
4.375 | 08/21/19 | 38,767 | ||||||||||||
| 10,000 |
Airgas, Inc |
4.500 | 09/15/14 | 10,430 | ||||||||||||
| 25,000 |
g | Anglo American Capital plc |
4.450 | 09/27/20 | 24,531 | |||||||||||
| 35,000 |
ArcelorMittal |
4.250 | 08/05/15 | 35,350 | ||||||||||||
| 60,000 |
ArcelorMittal |
5.000 | 02/25/17 | 60,750 | ||||||||||||
| 32,000 |
Ball Corp |
6.750 | 09/15/20 | 34,480 | ||||||||||||
| 375,000 |
Ball Corp |
4.000 | 11/15/23 | 346,875 | ||||||||||||
| 250,000 |
g | Barrick Gold Corp |
4.100 | 05/01/23 | 208,864 | |||||||||||
| 125,000 |
Barrick North America Finance LLC |
4.400 | 05/30/21 | 111,758 | ||||||||||||
| 200,000 |
g | Braskem Finance Ltd |
5.750 | 04/15/21 | 195,000 | |||||||||||
| 150,000 |
CF Industries, Inc |
6.875 | 05/01/18 | 176,358 | ||||||||||||
| 100,000 |
Corning, Inc |
1.450 | 11/15/17 | 97,576 | ||||||||||||
| 200,000 |
g | Corp Nacional del Cobre de Chile-CODELCO |
3.875 | 11/03/21 | 195,072 | |||||||||||
| 200,000 |
g | Corp Nacional del Cobre de Chile-CODELCO |
3.000 | 07/17/22 | 181,000 | |||||||||||
| 200,000 |
g | Corp Nacional del Cobre de Chile-CODELCO |
4.250 | 07/17/42 | 165,780 | |||||||||||
| 207,000 |
Crown Americas LLC |
6.250 | 02/01/21 | 219,420 | ||||||||||||
| 155,000 |
g | Crown Americas LLC |
4.500 | 01/15/23 | 146,087 | |||||||||||
| 125,000 |
g | Freeport McMoran |
2.375 | 03/15/18 | 118,885 | |||||||||||
| 150,000 |
g | Freeport McMoran |
3.100 | 03/15/20 | 138,647 | |||||||||||
| 200,000 |
g | Glencore Funding LLC |
2.500 | 01/15/19 | 180,942 | |||||||||||
| 500,000 |
International Paper Co |
4.750 | 02/15/22 | 526,144 | ||||||||||||
| 50,000 |
International Paper Co |
7.300 | 11/15/39 | 60,008 | ||||||||||||
| 575,000 |
LyondellBasell Industries NV |
6.000 | 11/15/21 | 646,131 | ||||||||||||
| 50,000 |
Praxair, Inc |
5.250 | 11/15/14 | 53,158 | ||||||||||||
| 50,000 |
Rio Tinto Finance USA Ltd |
2.250 | 09/20/16 | 51,040 | ||||||||||||
| 135,000 |
Rio Tinto Finance USA plc |
2.250 | 12/14/18 | 131,188 | ||||||||||||
| 150,000 |
Rio Tinto Finance USA plc |
2.875 | 08/21/22 | 137,535 | ||||||||||||
| 295,000 |
Rock Tenn Co |
3.500 | 03/01/20 | 288,664 | ||||||||||||
| 100,000 |
Rosetta Resources, Inc |
5.625 | 05/01/21 | 97,625 | ||||||||||||
| 225,000 |
Sherwin-Williams Co |
1.350 | 12/15/17 | 218,871 | ||||||||||||
| 100,000 |
g | Sociedad Quimica y Minera de Chile S.A. |
5.500 | 04/21/20 | 106,227 | |||||||||||
| 100,000 |
Teck Resources Ltd |
2.500 | 02/01/18 | 97,195 | ||||||||||||
| 150,000 |
Teck Resources Ltd |
3.750 | 02/01/23 | 137,818 | ||||||||||||
| 25,000 |
Teck Resources Ltd |
6.000 | 08/15/40 | 23,453 | ||||||||||||
| 100,000 |
Teck Resources Ltd |
5.200 | 03/01/42 | 84,818 | ||||||||||||
| 200,000 |
g | Turkiye Sise ve Cam Fabrikalari AS. |
4.250 | 05/09/20 | 182,000 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL MATERIALS |
|
5,678,511 | ||||||||||||||
|
|
|
|||||||||||||||
| MEDIA - 2.4% |
| |||||||||||||||
| 200,000 |
CCO Holdings LLC |
6.500 | 04/30/21 | 208,500 | ||||||||||||
| 250,000 |
CCO Holdings LLC |
5.750 | 01/15/24 | 241,250 | ||||||||||||
91
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 100,000 |
g | Cinemark USA, Inc |
4.875 | % | 06/01/23 | $ | 96,000 | |||||||||
| 675,000 |
Comcast Corp |
4.250 | 01/15/33 | 645,845 | ||||||||||||
| 100,000 |
DIRECTV Holdings LLC |
2.400 | 03/15/17 | 100,483 | ||||||||||||
| 150,000 |
DIRECTV Holdings LLC |
3.800 | 03/15/22 | 144,088 | ||||||||||||
| 100,000 |
Discovery Communications LLC |
3.300 | 05/15/22 | 95,621 | ||||||||||||
| 175,000 |
Discovery Communications LLC |
4.875 | 04/01/43 | 161,771 | ||||||||||||
| 175,000 |
g | DISH DBS Corp |
4.250 | 04/01/18 | 171,500 | |||||||||||
| 250,000 |
g | DISH DBS Corp |
5.125 | 05/01/20 | 245,000 | |||||||||||
| 320,000 |
Lamar Media Corp |
7.875 | 04/15/18 | 340,800 | ||||||||||||
| 100,000 |
Lamar Media Corp |
5.875 | 02/01/22 | 102,750 | ||||||||||||
| 100,000 |
g | NBC Universal Enterprise, Inc |
1.662 | 04/15/18 | 97,334 | |||||||||||
| 125,000 |
g | NBC Universal Enterprise, Inc |
1.974 | 04/15/19 | 121,657 | |||||||||||
| 500,000 |
News America, Inc |
3.000 | 09/15/22 | 466,646 | ||||||||||||
| 50,000 |
News America, Inc |
6.900 | 08/15/39 | 58,805 | ||||||||||||
| 35,000 |
Nielsen Finance LLC |
7.750 | 10/15/18 | 37,625 | ||||||||||||
| 100,000 |
Time Warner Cable, Inc |
8.750 | 02/14/19 | 122,748 | ||||||||||||
| 125,000 |
Time Warner Cable, Inc |
8.250 | 04/01/19 | 150,499 | ||||||||||||
| 125,000 |
Time Warner Cable, Inc |
4.500 | 09/15/42 | 96,935 | ||||||||||||
| 50,000 |
Time Warner, Inc |
3.150 | 07/15/15 | 52,228 | ||||||||||||
| 50,000 |
Time Warner, Inc |
6.500 | 11/15/36 | 56,549 | ||||||||||||
| 250,000 |
Time Warner, Inc |
4.900 | 06/15/42 | 237,864 | ||||||||||||
| 200,000 |
g | Univision Communications, Inc |
5.125 | 05/15/23 | 189,000 | |||||||||||
| 200,000 |
Viacom, Inc |
1.250 | 02/27/15 | 200,580 | ||||||||||||
| 115,000 |
Viacom, Inc |
2.500 | 12/15/16 | 118,639 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL MEDIA |
|
4,560,717 | ||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.7% |
| |||||||||||||||
| 170,000 |
Endo Pharmaceuticals Holdings, Inc |
7.000 | 07/15/19 | 171,700 | ||||||||||||
| 65,000 |
Life Technologies Corp |
3.500 | 01/15/16 | 67,651 | ||||||||||||
| 50,000 |
Mead Johnson Nutrition Co |
5.900 | 11/01/39 | 54,931 | ||||||||||||
| 172,000 |
g | Mylan, Inc |
7.875 | 07/15/20 | 198,479 | |||||||||||
| 150,000 |
NBTY, Inc |
9.000 | 10/01/18 | 163,125 | ||||||||||||
| 100,000 |
Novartis Capital Corp |
3.700 | 09/21/42 | 88,742 | ||||||||||||
| 100,000 |
Perrigo Co |
2.950 | 05/15/23 | 92,447 | ||||||||||||
| 100,000 |
Sanofi |
1.250 | 04/10/18 | 96,859 | ||||||||||||
| 100,000 |
g | Valeant Pharmaceuticals International, Inc |
6.375 | 10/15/20 | 98,875 | |||||||||||
| 100,000 |
Watson Pharmaceuticals, Inc |
1.875 | 10/01/17 | 97,486 | ||||||||||||
| 100,000 |
Watson Pharmaceuticals, Inc |
3.250 | 10/01/22 | 93,230 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
|
1,223,525 | ||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE - 1.0% |
| |||||||||||||||
| 30,000 |
AMB Property LP |
4.500 | 08/15/17 | 31,834 | ||||||||||||
| 150,000 |
AvalonBay Communities, Inc |
2.850 | 03/15/23 | 136,485 | ||||||||||||
| 35,000 |
Camden Property Trust |
4.625 | 06/15/21 | 36,969 | ||||||||||||
| 100,000 |
Developers Diversified Realty Corp |
4.750 | 04/15/18 | 107,451 | ||||||||||||
| 40,000 |
Developers Diversified Realty Corp |
7.875 | 09/01/20 | 48,790 | ||||||||||||
| 100,000 |
Federal Realty Investment Trust |
3.000 | 08/01/22 | 93,917 | ||||||||||||
| 100,000 |
Federal Realty Investment Trust |
2.750 | 06/01/23 | 90,630 | ||||||||||||
| 25,000 |
Healthcare Realty Trust, Inc |
5.750 | 01/15/21 | 27,097 | ||||||||||||
| 100,000 |
Healthcare Realty Trust, Inc |
3.750 | 04/15/23 | 93,145 | ||||||||||||
| 100,000 |
g | Healthcare Trust of America Holdings LP |
3.700 | 04/15/23 | 93,882 | |||||||||||
| 147,000 |
Host Hotels & Resorts LP |
5.875 | 06/15/19 | 158,039 | ||||||||||||
| 100,000 |
Kilroy Realty LP |
3.800 | 01/15/23 | 93,673 | ||||||||||||
| 100,000 |
Liberty Property LP |
3.375 | 06/15/23 | 92,741 | ||||||||||||
| 50,000 |
National Retail Properties, Inc |
5.500 | 07/15/21 | 54,113 | ||||||||||||
| 100,000 |
National Retail Properties, Inc |
3.300 | 04/15/23 | 90,374 | ||||||||||||
| 25,000 |
Simon Property Group LP |
5.250 | 12/01/16 | 27,932 | ||||||||||||
| 100,000 |
Simon Property Group LP |
2.800 | 01/30/17 | 102,944 | ||||||||||||
| 40,000 |
Simon Property Group LP |
10.350 | 04/01/19 | 55,397 | ||||||||||||
| 100,000 |
Simon Property Group LP |
2.750 | 02/01/23 | 91,798 | ||||||||||||
| 15,000 |
Ventas Realty LP |
3.125 | 11/30/15 | 15,697 | ||||||||||||
| 150,000 |
Ventas Realty LP |
2.000 | 02/15/18 | 145,197 | ||||||||||||
92
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 50,000 |
Ventas Realty LP |
4.250 | % | 03/01/22 | $ | 50,429 | ||||||||||
| 100,000 |
Weingarten Realty Investors |
3.500 | 04/15/23 | 92,312 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL REAL ESTATE |
|
1,830,846 | ||||||||||||||
|
|
|
|||||||||||||||
| RETAILING - 2.0% |
| |||||||||||||||
| 200,000 |
AmeriGas Finance LLC |
3.750 | 05/01/21 | 187,250 | ||||||||||||
| 130,000 |
AmeriGas Partners LP |
6.250 | 08/20/19 | 130,650 | ||||||||||||
| 200,000 |
g | Automotores Gildemeister S.A. |
8.250 | 05/24/21 | 185,000 | |||||||||||
| 100,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
2.054 | 08/20/16 | 101,583 | |||||||||||
| 100,000 |
g | BC Mountain LLC |
7.000 | 02/01/21 | 102,000 | |||||||||||
| 132,000 |
Limited Brands, Inc |
6.625 | 04/01/21 | 143,385 | ||||||||||||
| 205,000 |
Limited Brands, Inc |
5.625 | 02/15/22 | 208,075 | ||||||||||||
| 275,000 |
Macy’s Retail Holdings, Inc |
2.875 | 02/15/23 | 253,650 | ||||||||||||
| 35,000 |
O’Reilly Automotive, Inc |
4.625 | 09/15/21 | 36,627 | ||||||||||||
| 725,000 |
O’Reilly Automotive, Inc |
3.800 | 09/01/22 | 714,583 | ||||||||||||
| 100,000 |
g | QVC, Inc |
7.500 | 10/01/19 | 108,721 | |||||||||||
| 510,000 |
g | QVC, Inc |
7.375 | 10/15/20 | 556,331 | |||||||||||
| 100,000 |
QVC, Inc |
5.125 | 07/02/22 | 101,054 | ||||||||||||
| 385,000 |
Sally Holdings LLC |
5.750 | 06/01/22 | 390,775 | ||||||||||||
| 100,000 |
g | Sonic Automotive, Inc |
5.000 | 05/15/23 | 97,000 | |||||||||||
| 61,000 |
Wal-Mart Stores, Inc |
4.250 | 04/15/21 | 66,529 | ||||||||||||
| 75,000 |
Wal-Mart Stores, Inc |
5.000 | 10/25/40 | 79,187 | ||||||||||||
| 200,000 |
g | WEX, Inc |
4.750 | 02/01/23 | 189,000 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL RETAILING |
|
3,651,400 | ||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES - 0.9% |
| |||||||||||||||
| 100,000 |
Equinix, Inc |
4.875 | 04/01/20 | 98,000 | ||||||||||||
| 1,170,000 |
Fidelity National Information Services, Inc |
5.000 | 03/15/22 | 1,177,313 | ||||||||||||
| 50,000 |
Oracle Corp |
3.750 | 07/08/14 | 51,638 | ||||||||||||
| 275,000 |
Oracle Corp |
2.500 | 10/15/22 | 253,599 | ||||||||||||
| 100,000 |
g | VeriSign, Inc |
4.625 | 05/01/23 | 97,000 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL SOFTWARE & SERVICES |
|
1,677,550 | ||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 1.2% |
| |||||||||||||||
| 50,000 |
Amphenol Corp |
4.750 | 11/15/14 | 52,397 | ||||||||||||
| 100,000 |
Apple, Inc |
3.850 | 05/04/43 | 88,823 | ||||||||||||
| 130,000 |
Brocade Communications Systems, Inc |
6.875 | 01/15/20 | 138,775 | ||||||||||||
| 100,000 |
CC Holdings GS V LLC |
2.381 | 12/15/17 | 98,411 | ||||||||||||
| 82,000 |
g | Flextronics International Ltd |
4.625 | 02/15/20 | 79,540 | |||||||||||
| 500,000 |
General Electric Co |
0.850 | 10/09/15 | 499,527 | ||||||||||||
| 250,000 |
General Electric Co |
2.700 | 10/09/22 | 236,598 | ||||||||||||
| 100,000 |
General Electric Co |
4.125 | 10/09/42 | 93,050 | ||||||||||||
| 282,000 |
Jabil Circuit, Inc |
5.625 | 12/15/20 | 291,870 | ||||||||||||
| 100,000 |
L-3 Communications Corp |
4.950 | 02/15/21 | 105,587 | ||||||||||||
| 150,000 |
g | NXP BV |
3.750 | 06/01/18 | 147,000 | |||||||||||
| 100,000 |
Scientific Games Corp |
8.125 | 09/15/18 | 107,000 | ||||||||||||
| 32,000 |
Scientific Games Corp |
9.250 | 06/15/19 | 34,640 | ||||||||||||
| 25,000 |
Xerox Corp |
8.250 | 05/15/14 | 26,561 | ||||||||||||
| 200,000 |
Xerox Corp |
4.500 | 05/15/21 | 206,299 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
|
2,206,078 | ||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES - 1.8% |
| |||||||||||||||
| 200,000 |
America Movil SAB de C.V. |
3.125 | 07/16/22 | 184,279 | ||||||||||||
| 50,000 |
American Tower Corp |
4.700 | 03/15/22 | 50,430 | ||||||||||||
| 300,000 |
American Tower Corp |
3.500 | 01/31/23 | 274,703 | ||||||||||||
| 125,000 |
AT&T, Inc |
1.400 | 12/01/17 | 121,524 | ||||||||||||
| 150,000 |
AT&T, Inc |
2.625 | 12/01/22 | 137,300 | ||||||||||||
| 125,000 |
AT&T, Inc |
6.300 | 01/15/38 | 138,971 | ||||||||||||
| 259,000 |
AT&T, Inc |
4.350 | 06/15/45 | 225,338 | ||||||||||||
| 175,000 |
Cellco Partnership |
8.500 | 11/15/18 | 227,289 | ||||||||||||
| 100,000 |
Deutsche Telekom International Finance BV |
8.750 | 06/15/30 | 138,727 | ||||||||||||
93
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 75,000 |
g | Deutsche Telekom International Finance BV |
4.875 | % | 03/06/42 | $ | 73,162 | |||||||||
| 125,000 |
g | Intelsat Jackson Holdings S.A. |
5.500 | 08/01/23 | 117,500 | |||||||||||
| 100,000 |
g | SES |
3.600 | 04/04/23 | 97,218 | |||||||||||
| 33,000 |
Telecom Italia Capital S.A. |
6.175 | 06/18/14 | 34,155 | ||||||||||||
| 125,000 |
Telecom Italia Capital S.A. |
6.999 | 06/04/18 | 137,412 | ||||||||||||
| 150,000 |
Telefonica Emisiones SAU |
3.992 | 02/16/16 | 154,696 | ||||||||||||
| 150,000 |
Telefonica Emisiones SAU |
3.192 | 04/27/18 | 145,291 | ||||||||||||
| 125,000 |
Telefonica Emisiones SAU |
4.570 | 04/27/23 | 119,662 | ||||||||||||
| 100,000 |
Telefonos de Mexico SAB de C.V. |
5.500 | 11/15/19 | 109,631 | ||||||||||||
| 600,000 |
Verizon Communications, Inc |
0.700 | 11/02/15 | 595,970 | ||||||||||||
| 26,000 |
Verizon Communications, Inc |
8.750 | 11/01/18 | 33,887 | ||||||||||||
| 200,000 |
g | VimpelCom Holdings BV |
5.950 | 02/13/23 | 187,000 | |||||||||||
| 100,000 |
Windstream Corp |
6.375 | 08/01/23 | 93,500 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL TELECOMMUNICATION SERVICES |
|
3,397,645 | ||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION - 0.9% |
| |||||||||||||||
| 165,000 |
g | Asciano Finance Ltd |
5.000 | 04/07/18 | 175,293 | |||||||||||
| 150,000 |
Burlington Northern Santa Fe LLC |
3.450 | 09/15/21 | 150,432 | ||||||||||||
| 100,000 |
Burlington Northern Santa Fe LLC |
5.050 | 03/01/41 | 101,083 | ||||||||||||
| 200,000 |
g | DP World Ltd |
6.850 | 07/02/37 | 206,500 | |||||||||||
| 25,000 |
Embraer Overseas Ltd |
6.375 | 01/15/20 | 27,375 | ||||||||||||
| 100,000 |
g | ERAC USA Finance LLC |
3.300 | 10/15/22 | 94,924 | |||||||||||
| 100,000 |
g | ERAC USA Finance LLC |
5.625 | 03/15/42 | 100,388 | |||||||||||
| 100,000 |
g | Hertz Corp |
4.250 | 04/01/18 | 97,500 | |||||||||||
| 100,000 |
g | Kansas City Southern de Mexico S.A. de C.V. |
2.350 | 05/15/20 | 96,746 | |||||||||||
| 100,000 |
g | Kansas City Southern Railway |
4.300 | 05/15/43 | 90,095 | |||||||||||
| 150,000 |
Northrop Grumman Corp |
3.250 | 08/01/23 | 141,946 | ||||||||||||
| 150,000 |
Northrop Grumman Corp |
4.750 | 06/01/43 | 143,376 | ||||||||||||
| 100,000 |
United Parcel Service, Inc |
3.125 | 01/15/21 | 101,389 | ||||||||||||
| 100,000 |
United Parcel Service, Inc |
3.625 | 10/01/42 | 87,507 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL TRANSPORTATION |
|
1,614,554 | ||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES - 3.3% |
| |||||||||||||||
| 100,000 |
AES Corp |
7.375 | 07/01/21 | 109,750 | ||||||||||||
| 100,000 |
AES Corp |
4.875 | 05/15/23 | 93,250 | ||||||||||||
| 100,000 |
AGL Capital Corp |
4.400 | 06/01/43 | 92,674 | ||||||||||||
| 75,000 |
Alliant Energy Corp |
4.000 | 10/15/14 | 77,820 | ||||||||||||
| 75,000 |
Atmos Energy Corp |
8.500 | 03/15/19 | 98,053 | ||||||||||||
| 150,000 |
Atmos Energy Corp |
4.150 | 01/15/43 | 137,635 | ||||||||||||
| 175,000 |
g | Calpine Corp |
7.500 | 02/15/21 | 186,813 | |||||||||||
| 200,000 |
Carolina Power & Light Co |
5.300 | 01/15/19 | 229,743 | ||||||||||||
| 200,000 |
g | Centrais Eletricas Brasileiras S.A. |
5.750 | 10/27/21 | 193,500 | |||||||||||
| 200,000 |
CLP Power Hong Kong Financing Ltd |
3.375 | 10/26/27 | 168,349 | ||||||||||||
| 100,000 |
CMS Energy Corp |
4.700 | 03/31/43 | 92,365 | ||||||||||||
| 200,000 |
g | Comision Federal de Electricidad |
5.750 | 02/14/42 | 185,000 | |||||||||||
| 150,000 |
Commonwealth Edison Co |
4.000 | 08/01/20 | 160,703 | ||||||||||||
| 25,000 |
Connecticut Light & Power Co |
5.500 | 02/01/19 | 29,076 | ||||||||||||
| 150,000 |
Consolidated Edison Co of New York, Inc |
3.950 | 03/01/43 | 135,714 | ||||||||||||
| 100,000 |
Detroit Edison Co |
3.950 | 06/15/42 | 91,493 | ||||||||||||
| 50,000 |
Dominion Resources, Inc |
4.050 | 09/15/42 | 43,877 | ||||||||||||
| 100,000 |
Duke Energy Carolinas LLC |
5.750 | 11/15/13 | 101,921 | ||||||||||||
| 15,000 |
Duke Energy Carolinas LLC |
4.300 | 06/15/20 | 16,325 | ||||||||||||
| 175,000 |
Florida Power & Light Co |
2.750 | 06/01/23 | 168,236 | ||||||||||||
| 50,000 |
Indiana Michigan Power Co |
7.000 | 03/15/19 | 60,077 | ||||||||||||
| 25,000 |
Integrys Energy Group, Inc |
4.170 | 11/01/20 | 26,358 | ||||||||||||
| 300,000 |
g | Israel Electric Corp Ltd |
7.250 | 01/15/19 | 319,500 | |||||||||||
| 200,000 |
g | KazMunayGas National Co JSC |
4.400 | 04/30/23 | 185,500 | |||||||||||
| 200,000 |
g | Korea Hydro & Nuclear Power Co Ltd |
3.000 | 09/19/22 | 178,577 | |||||||||||
| 100,000 |
LG&E and KU Energy LLC |
3.750 | 11/15/20 | 102,076 | ||||||||||||
| 50,000 |
Midamerican Energy Holdings Co |
5.950 | 05/15/37 | 55,551 | ||||||||||||
| 125,000 |
NiSource Finance Corp |
4.800 | 02/15/44 | 113,187 | ||||||||||||
| 100,000 |
Northeast Utilities |
1.450 | 05/01/18 | 97,063 | ||||||||||||
| 100,000 |
Oncor Electric Delivery Co LLC |
4.550 | 12/01/41 | 94,849 | ||||||||||||
94
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 150,000 |
ONEOK Partners LP |
3.375 | % | 10/01/22 | $ | 137,899 | ||||||||||
| 75,000 |
Pacific Gas & Electric Co |
8.250 | 10/15/18 | 96,720 | ||||||||||||
| 125,000 |
PacifiCorp |
2.950 | 02/01/22 | 122,871 | ||||||||||||
| 75,000 |
Pepco Holdings, Inc |
2.700 | 10/01/15 | 77,159 | ||||||||||||
| 200,000 |
g | Perusahaan Listrik Negara PT |
5.500 | 11/22/21 | 196,000 | |||||||||||
| 50,000 |
PG&E Corp |
5.750 | 04/01/14 | 51,849 | ||||||||||||
| 300,000 |
PPL Capital Funding, Inc |
4.200 | 06/15/22 | 301,592 | ||||||||||||
| 250,000 |
PPL Electric Utilities Corp |
3.000 | 09/15/21 | 248,585 | ||||||||||||
| 50,000 |
Progress Energy, Inc |
7.050 | 03/15/19 | 60,585 | ||||||||||||
| 75,000 |
Public Service Co of Colorado |
3.200 | 11/15/20 | 76,841 | ||||||||||||
| 80,000 |
Public Service Co of Colorado |
4.750 | 08/15/41 | 82,688 | ||||||||||||
| 100,000 |
Public Service Co of Oklahoma |
5.150 | 12/01/19 | 113,308 | ||||||||||||
| 175,000 |
Public Service Electric & Gas Co |
2.375 | 05/15/23 | 162,043 | ||||||||||||
| 32,000 |
Questar Market Resources, Inc |
6.875 | 03/01/21 | 34,480 | ||||||||||||
| 75,000 |
San Diego Gas & Electric Co |
3.000 | 08/15/21 | 75,385 | ||||||||||||
| 25,000 |
San Diego Gas & Electric Co |
3.950 | 11/15/41 | 23,274 | ||||||||||||
| 50,000 |
Sempra Energy |
6.000 | 10/15/39 | 56,258 | ||||||||||||
| 100,000 |
Tampa Electric Co |
4.100 | 06/15/42 | 92,237 | ||||||||||||
| 55,000 |
Virginia Electric and Power Co |
2.950 | 01/15/22 | 54,270 | ||||||||||||
| 50,000 |
Williams Partners LP |
3.800 | 02/15/15 | 52,130 | ||||||||||||
| 75,000 |
Williams Partners LP |
4.000 | 11/15/21 | 73,542 | ||||||||||||
| 100,000 |
Williams Partners LP |
3.350 | 08/15/22 | 91,839 | ||||||||||||
| 75,000 |
Williams Partners LP |
6.300 | 04/15/40 | 78,620 | ||||||||||||
| 50,000 |
Xcel Energy, Inc |
4.800 | 09/15/41 | 49,713 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL UTILITIES |
|
6,054,923 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL CORPORATE BONDS (Cost $71,158,292) |
70,234,182 | |||||||||||||||
|
|
|
|||||||||||||||
| GOVERNMENT BONDS - 48.7% |
| |||||||||||||||
| AGENCY SECURITIES - 0.8% |
| |||||||||||||||
| 200,000 |
Amber Circle Funding LTD |
3.250 | 12/04/22 | 179,755 | ||||||||||||
| 1,000,000 |
Federal National Mortgage Association (FNMA) |
3.000 | 09/16/14 | 1,033,551 | ||||||||||||
| 203,125 |
Totem Ocean Trailer Express, Inc |
4.514 | 12/18/19 | 213,238 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL AGENCY SECURITIES |
|
1,426,544 | ||||||||||||||
|
|
|
|||||||||||||||
| FOREIGN GOVERNMENT BONDS - 3.8% |
| |||||||||||||||
| 100,000 |
Brazilian Government International Bond |
2.625 | 01/05/23 | 87,000 | ||||||||||||
| 25,000 |
Brazilian Government International Bond |
7.125 | 01/20/37 | 29,750 | ||||||||||||
| 100,000 |
Brazilian Government International Bond |
5.625 | 01/07/41 | 99,500 | ||||||||||||
| 150,000 |
Canada Government International Bond |
2.375 | 09/10/14 | 153,645 | ||||||||||||
| 250,000 |
Canada Government International Bond |
0.875 | 02/14/17 | 248,775 | ||||||||||||
| 150,000 |
Chile Government International Bond |
3.875 | 08/05/20 | 157,500 | ||||||||||||
| 200,000 |
Colombia Government International Bond |
4.375 | 07/12/21 | 208,300 | ||||||||||||
| 200,000 |
Colombia Government International Bond |
2.625 | 03/15/23 | 178,500 | ||||||||||||
| 200,000 |
g | Costa Rica Government International Bond |
4.375 | 04/30/25 | 183,500 | |||||||||||
| 200,000 |
g | Croatia Government International Bond |
6.250 | 04/27/17 | 209,682 | |||||||||||
| 200,000 |
g | Dominican Republic International Bond |
5.875 | 04/18/24 | 192,500 | |||||||||||
| 100,000 |
European Investment Bank |
4.875 | 02/15/36 | 112,108 | ||||||||||||
| 200,000 |
Export-Import Bank of Korea |
1.250 | 11/20/15 | 197,713 | ||||||||||||
| 200,000 |
Export-Import Bank of Korea |
1.750 | 02/27/18 | 188,450 | ||||||||||||
| 175,000 |
Federative Republic of Brazil |
6.000 | 01/17/17 | 196,875 | ||||||||||||
| 200,000 |
g | Guatemala Government Bond |
4.875 | 02/13/28 | 181,000 | |||||||||||
| 200,000 |
g | Indonesia Government International Bond |
3.750 | 04/25/22 | 188,000 | |||||||||||
| 200,000 |
g | Indonesia Government International Bond |
3.375 | 04/15/23 | 179,500 | |||||||||||
| 250,000 |
Israel Government International Bond |
4.500 | 01/30/43 | 225,000 | ||||||||||||
| 35,000 |
Italy Government International Bond |
6.875 | 09/27/23 | 40,579 | ||||||||||||
| 200,000 |
g,i | Kommunalbanken AS. |
0.454 | 02/20/18 | 199,725 | |||||||||||
| 200,000 |
Korea Development Bank |
1.500 | 01/22/18 | 186,406 | ||||||||||||
| 200,000 |
Korea Development Bank |
3.000 | 09/14/22 | 182,869 | ||||||||||||
| 250,000 |
g | Korea Housing Finance Corp |
1.625 | 09/15/18 | 229,993 | |||||||||||
| 200,000 |
g | Mongolia Government International Bond |
5.125 | 12/05/22 | 176,000 | |||||||||||
| 200,000 |
g | Morocco Government International Bond |
4.250 | 12/11/22 | 176,040 | |||||||||||
95
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 200,000 |
g | Namibia International Bonds |
5.500 | % | 11/03/21 | $ | 202,000 | |||||||||
| 250,000 |
g | Nederlandse Waterschapsbank NV |
2.125 | 02/09/17 | 256,503 | |||||||||||
| 25,000 |
Peruvian Government International Bond |
7.350 | 07/21/25 | 32,000 | ||||||||||||
| 80,000 |
Poland Government International Bond |
3.875 | 07/16/15 | 83,651 | ||||||||||||
| 30,000 |
Poland Government International Bond |
6.375 | 07/15/19 | 34,989 | ||||||||||||
| 195,000 |
Poland Government International Bond |
3.000 | 03/17/23 | 175,988 | ||||||||||||
| 300,000 |
Province of Ontario Canada |
4.100 | 06/16/14 | 310,528 | ||||||||||||
| 300,000 |
Province of Ontario Canada |
2.950 | 02/05/15 | 311,365 | ||||||||||||
| 100,000 |
Qatar Government International Bond |
5.250 | 01/20/20 | 112,000 | ||||||||||||
| 200,000 |
g | Republic of Serbia |
4.875 | 02/25/20 | 182,000 | |||||||||||
| 60,000 |
g | Romanian Government International Bond |
6.750 | 02/07/22 | 66,891 | |||||||||||
| 200,000 |
g | Romanian Government International Bond |
4.375 | 08/22/23 | 190,004 | |||||||||||
| 100,000 |
South Africa Government International Bond |
6.875 | 05/27/19 | 113,250 | ||||||||||||
| 100,000 |
South Africa Government International Bond |
4.665 | 01/17/24 | 95,500 | ||||||||||||
| 200,000 |
g | Sri Lanka Government International Bond |
5.875 | 07/25/22 | 189,000 | |||||||||||
| 100,000 |
Turkey Government International Bond |
5.625 | 03/30/21 | 106,750 | ||||||||||||
| 50,000 |
United Mexican States |
5.950 | 03/19/19 | 57,225 | ||||||||||||
| 100,000 |
United Mexican States |
5.125 | 01/15/20 | 109,900 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL FOREIGN GOVERNMENT BONDS |
|
7,038,454 | ||||||||||||||
|
|
|
|||||||||||||||
| MORTGAGE BACKED - 23.7% |
| |||||||||||||||
| 30,675 |
i | Federal Home Loan Mortgage Corp (FHLMC) |
2.439 | 02/01/36 | 32,702 | |||||||||||
| 111,725 |
i | FHLMC |
2.375 | 07/01/36 | 119,492 | |||||||||||
| 81,590 |
i | FHLMC |
2.399 | 09/01/36 | 87,132 | |||||||||||
| 28,276 |
i | FHLMC |
2.545 | 09/01/36 | 29,960 | |||||||||||
| 27,254 |
i | FHLMC |
2.598 | 09/01/36 | 29,098 | |||||||||||
| 66,715 |
i | FHLMC |
2.734 | 03/01/37 | 71,157 | |||||||||||
| 67,453 |
i | FHLMC |
6.021 | 04/01/37 | 72,987 | |||||||||||
| 4,421 |
i | FHLMC |
6.081 | 05/01/37 | 4,750 | |||||||||||
| 785,628 |
i | FHLMC |
6.368 | 09/15/41 | 203,807 | |||||||||||
| 102,528 |
FHLMC (Interest Only) |
3.000 | 08/15/42 | 85,721 | ||||||||||||
| 125,801 |
Federal Home Loan Mortgage Corp Gold (FGLMC) |
5.000 | 02/01/19 | 135,313 | ||||||||||||
| 13,197 |
FGLMC |
4.500 | 01/01/20 | 13,883 | ||||||||||||
| 61,918 |
FGLMC |
4.500 | 07/01/20 | 65,909 | ||||||||||||
| 14,048 |
FGLMC |
5.000 | 04/01/23 | 15,046 | ||||||||||||
| 48,086 |
FGLMC |
4.000 | 07/01/24 | 50,400 | ||||||||||||
| 16,779 |
FGLMC |
4.500 | 09/01/24 | 17,667 | ||||||||||||
| 3,374 |
FGLMC |
6.000 | 03/01/33 | 3,765 | ||||||||||||
| 132,852 |
FGLMC |
5.000 | 11/01/33 | 147,772 | ||||||||||||
| 230,411 |
FGLMC |
6.000 | 11/01/33 | 258,258 | ||||||||||||
| 41,907 |
FGLMC |
5.000 | 05/01/34 | 44,913 | ||||||||||||
| 28,251 |
FGLMC |
6.000 | 09/01/34 | 31,075 | ||||||||||||
| 15,656 |
FGLMC |
6.000 | 04/01/35 | 17,157 | ||||||||||||
| 12,665 |
FGLMC |
5.000 | 02/01/36 | 13,543 | ||||||||||||
| 2,432 |
FGLMC |
6.500 | 05/01/36 | 2,719 | ||||||||||||
| 5,684 |
FGLMC |
6.000 | 08/01/37 | 6,168 | ||||||||||||
| 99,988 |
FGLMC |
6.000 | 08/01/37 | 109,550 | ||||||||||||
| 30,041 |
FGLMC |
6.500 | 09/01/37 | 33,782 | ||||||||||||
| 24,425 |
FGLMC |
6.500 | 11/01/37 | 27,467 | ||||||||||||
| 65,966 |
FGLMC |
5.000 | 04/01/38 | 71,945 | ||||||||||||
| 21,531 |
FGLMC |
6.500 | 05/01/38 | 23,710 | ||||||||||||
| 21,968 |
FGLMC |
5.500 | 01/01/39 | 23,600 | ||||||||||||
| 48,618 |
FGLMC |
5.000 | 07/01/39 | 51,893 | ||||||||||||
| 660,191 |
FGLMC |
4.500 | 12/01/39 | 711,510 | ||||||||||||
| 80,173 |
FGLMC |
5.000 | 01/01/40 | 85,575 | ||||||||||||
| 416,138 |
FGLMC |
4.500 | 07/01/40 | 448,588 | ||||||||||||
| 733,043 |
Federal National Mortgage Association (FNMA) |
4.606 | 01/01/15 | 749,886 | ||||||||||||
| 32,142 |
FNMA |
5.500 | 04/01/18 | 34,061 | ||||||||||||
| 37,280 |
FNMA |
5.500 | 05/01/18 | 39,370 | ||||||||||||
| 111,272 |
FNMA |
4.000 | 02/25/19 | 117,472 | ||||||||||||
| 29,635 |
FNMA |
4.500 | 03/01/19 | 31,489 | ||||||||||||
| 13,318 |
FNMA |
4.500 | 06/01/19 | 14,149 | ||||||||||||
| 119,258 |
FNMA |
5.500 | 07/01/20 | 128,743 | ||||||||||||
96
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 6,813 |
FNMA |
4.500 | % | 11/01/20 | $ | 7,240 | ||||||||||
| 48,581 |
FNMA |
4.500 | 12/01/20 | 52,703 | ||||||||||||
| 14,483 |
FNMA |
5.000 | 12/01/20 | 15,433 | ||||||||||||
| 11,934 |
FNMA |
4.500 | 03/01/23 | 12,676 | ||||||||||||
| 51,782 |
FNMA |
5.000 | 04/01/23 | 55,465 | ||||||||||||
| 24,177 |
FNMA |
4.500 | 06/01/23 | 25,683 | ||||||||||||
| 33,504 |
FNMA |
5.000 | 07/01/23 | 35,928 | ||||||||||||
| 15,820 |
FNMA |
5.000 | 07/01/23 | 16,859 | ||||||||||||
| 60,144 |
FNMA |
5.500 | 02/01/24 | 65,774 | ||||||||||||
| 45,581 |
FNMA |
4.500 | 04/01/24 | 48,423 | ||||||||||||
| 25,397 |
FNMA |
4.000 | 05/01/24 | 26,764 | ||||||||||||
| 138,021 |
FNMA |
5.500 | 07/01/24 | 150,985 | ||||||||||||
| 4,799 |
FNMA |
5.500 | 09/01/24 | 5,259 | ||||||||||||
| 179,740 |
FNMA |
4.000 | 02/01/25 | 189,462 | ||||||||||||
| 299,985 |
FNMA |
3.500 | 01/01/26 | 314,533 | ||||||||||||
| 405,413 |
FNMA |
2.500 | 01/01/27 | 408,441 | ||||||||||||
| 226,687 |
FNMA |
3.000 | 01/01/27 | 233,445 | ||||||||||||
| 570,165 |
FNMA |
3.000 | 01/01/27 | 587,028 | ||||||||||||
| 1,235,959 |
FNMA |
2.500 | 10/01/27 | 1,244,682 | ||||||||||||
| 981,418 |
FNMA |
3.000 | 03/01/28 | 1,013,794 | ||||||||||||
| 490,507 |
FNMA |
2.500 | 04/01/28 | 494,126 | ||||||||||||
| 478,381 |
FNMA |
3.500 | 06/01/32 | 493,970 | ||||||||||||
| 27,193 |
FNMA |
6.500 | 07/01/32 | 30,443 | ||||||||||||
| 28,877 |
FNMA |
5.500 | 01/01/33 | 31,646 | ||||||||||||
| 219,123 |
FNMA |
5.500 | 07/01/33 | 244,892 | ||||||||||||
| 455,759 |
FNMA |
5.500 | 07/01/33 | 509,586 | ||||||||||||
| 41,859 |
FNMA |
5.500 | 07/01/33 | 45,813 | ||||||||||||
| 165,961 |
FNMA |
6.000 | 10/01/33 | 182,817 | ||||||||||||
| 66,606 |
FNMA |
5.000 | 11/01/33 | 72,060 | ||||||||||||
| 326,834 |
FNMA |
5.500 | 11/01/33 | 358,042 | ||||||||||||
| 51,412 |
FNMA |
5.500 | 04/01/34 | 56,738 | ||||||||||||
| 21,188 |
FNMA |
5.000 | 08/01/34 | 22,890 | ||||||||||||
| 22,685 |
FNMA |
5.000 | 11/01/34 | 24,541 | ||||||||||||
| 35,457 |
FNMA |
6.500 | 02/01/35 | 39,748 | ||||||||||||
| 76,477 |
FNMA |
5.500 | 04/01/35 | 83,850 | ||||||||||||
| 12,046 |
FNMA |
7.500 | 06/01/35 | 13,193 | ||||||||||||
| 31,541 |
FNMA |
5.500 | 07/01/35 | 34,817 | ||||||||||||
| 17,287 |
FNMA |
7.500 | 07/01/35 | 18,140 | ||||||||||||
| 23,207 |
FNMA |
4.500 | 08/01/35 | 24,546 | ||||||||||||
| 39,675 |
FNMA |
5.000 | 08/01/35 | 42,718 | ||||||||||||
| 101,850 |
FNMA |
5.500 | 09/01/35 | 111,470 | ||||||||||||
| 37,476 |
FNMA |
5.500 | 10/01/35 | 40,872 | ||||||||||||
| 37,074 |
FNMA |
5.000 | 02/01/36 | 39,952 | ||||||||||||
| 94,463 |
FNMA |
6.000 | 04/01/36 | 102,794 | ||||||||||||
| 87,595 |
FNMA |
6.000 | 06/01/36 | 96,980 | ||||||||||||
| 74,956 |
i | FNMA |
2.760 | 07/01/36 | 80,525 | |||||||||||
| 23,997 |
FNMA |
6.500 | 09/01/36 | 26,436 | ||||||||||||
| 24,398 |
FNMA |
6.000 | 12/01/36 | 26,550 | ||||||||||||
| 13,369 |
FNMA |
5.000 | 02/01/37 | 14,368 | ||||||||||||
| 86,665 |
FNMA |
5.500 | 02/01/37 | 94,023 | ||||||||||||
| 25,685 |
FNMA |
7.000 | 02/01/37 | 29,872 | ||||||||||||
| 38,589 |
FNMA |
5.500 | 03/01/37 | 41,852 | ||||||||||||
| 59,646 |
FNMA |
7.000 | 04/01/37 | 69,370 | ||||||||||||
| 5,128 |
FNMA |
5.500 | 06/01/37 | 5,562 | ||||||||||||
| 11,996 |
FNMA |
6.500 | 08/01/37 | 13,343 | ||||||||||||
| 85,259 |
FNMA |
6.000 | 09/01/37 | 92,655 | ||||||||||||
| 15,227 |
FNMA |
6.000 | 11/01/37 | 16,548 | ||||||||||||
| 9,777 |
FNMA |
7.000 | 11/01/37 | 11,371 | ||||||||||||
| 33,484 |
FNMA |
5.500 | 01/01/38 | 36,316 | ||||||||||||
| 4,255 |
FNMA |
6.500 | 01/01/38 | 4,782 | ||||||||||||
| 61,372 |
FNMA |
5.500 | 02/01/38 | 66,561 | ||||||||||||
| 163,992 |
FNMA |
5.500 | 02/01/38 | 177,859 | ||||||||||||
| 1,475 |
FNMA |
6.500 | 02/01/38 | 1,653 | ||||||||||||
| 4,297 |
FNMA |
6.500 | 03/01/38 | 4,823 | ||||||||||||
97
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 2,534 |
FNMA |
6.500 | % | 03/01/38 | $ | 2,736 | ||||||||||
| 106,370 |
FNMA |
5.000 | 04/01/38 | 114,315 | ||||||||||||
| 73,071 |
FNMA |
5.000 | 04/01/38 | 78,528 | ||||||||||||
| 42,812 |
FNMA |
6.000 | 04/01/38 | 46,530 | ||||||||||||
| 114,189 |
FNMA |
5.500 | 05/01/38 | 123,845 | ||||||||||||
| 101,029 |
FNMA |
5.500 | 06/01/38 | 109,572 | ||||||||||||
| 282,438 |
FNMA |
6.000 | 07/01/38 | 306,938 | ||||||||||||
| 263,510 |
FNMA |
6.000 | 10/01/38 | 286,369 | ||||||||||||
| 114,999 |
FNMA |
4.000 | 01/01/39 | 119,789 | ||||||||||||
| 33,203 |
FNMA |
4.500 | 01/01/39 | 35,118 | ||||||||||||
| 24,247 |
FNMA |
5.500 | 01/01/39 | 26,297 | ||||||||||||
| 26,290 |
FNMA |
6.000 | 01/01/39 | 28,573 | ||||||||||||
| 18,714 |
FNMA |
6.000 | 01/01/39 | 20,339 | ||||||||||||
| 53,657 |
FNMA |
4.000 | 02/01/39 | 55,892 | ||||||||||||
| 45,185 |
FNMA |
4.500 | 02/01/39 | 47,791 | ||||||||||||
| 217,778 |
FNMA |
4.500 | 02/01/39 | 230,340 | ||||||||||||
| 22,846 |
FNMA |
5.500 | 02/01/39 | 24,778 | ||||||||||||
| 433,163 |
FNMA |
4.500 | 04/01/39 | 458,190 | ||||||||||||
| 30,323 |
FNMA |
5.000 | 04/01/39 | 32,680 | ||||||||||||
| 315,659 |
FNMA |
4.000 | 05/01/39 | 331,176 | ||||||||||||
| 216,526 |
FNMA |
4.500 | 06/01/39 | 229,037 | ||||||||||||
| 333,291 |
FNMA |
4.000 | 07/01/39 | 347,173 | ||||||||||||
| 224,144 |
FNMA |
6.500 | 07/01/39 | 252,618 | ||||||||||||
| 279,474 |
FNMA |
4.000 | 08/01/39 | 291,115 | ||||||||||||
| 209,715 |
FNMA |
4.500 | 08/01/39 | 221,832 | ||||||||||||
| 321,018 |
FNMA |
6.000 | 09/01/39 | 349,282 | ||||||||||||
| 152,233 |
FNMA |
4.500 | 10/01/39 | 161,029 | ||||||||||||
| 162,893 |
FNMA |
4.500 | 11/01/39 | 172,305 | ||||||||||||
| 166,813 |
FNMA |
4.500 | 11/01/39 | 176,451 | ||||||||||||
| 141,677 |
FNMA |
5.000 | 11/01/39 | 152,419 | ||||||||||||
| 474,677 |
FNMA |
5.000 | 05/01/40 | 523,539 | ||||||||||||
| 321,793 |
FNMA |
5.000 | 06/01/40 | 353,430 | ||||||||||||
| 155,188 |
FNMA |
4.500 | 07/01/40 | 164,423 | ||||||||||||
| 186,035 |
FNMA |
4.500 | 07/01/40 | 197,105 | ||||||||||||
| 311,843 |
FNMA |
5.500 | 07/01/40 | 342,959 | ||||||||||||
| 259,606 |
FNMA |
4.500 | 11/01/40 | 277,052 | ||||||||||||
| 253,459 |
FNMA |
5.000 | 11/01/40 | 278,173 | ||||||||||||
| 112,358 |
FNMA |
4.000 | 12/01/40 | 117,109 | ||||||||||||
| 850,599 |
FNMA |
4.000 | 12/01/40 | 891,066 | ||||||||||||
| 290,441 |
FNMA |
4.500 | 12/01/40 | 307,725 | ||||||||||||
| 368,887 |
FNMA |
3.500 | 01/01/41 | 375,094 | ||||||||||||
| 199,558 |
FNMA |
4.000 | 02/01/41 | 207,997 | ||||||||||||
| 618,760 |
FNMA |
4.000 | 02/01/41 | 644,927 | ||||||||||||
| 413,496 |
FNMA |
4.000 | 04/01/41 | 433,963 | ||||||||||||
| 203,580 |
FNMA |
4.000 | 04/01/41 | 213,318 | ||||||||||||
| 375,857 |
FNMA |
4.500 | 04/01/41 | 400,827 | ||||||||||||
| 120,067 |
FNMA |
4.000 | 08/01/41 | 125,257 | ||||||||||||
| 373,440 |
FNMA |
4.000 | 08/01/41 | 389,582 | ||||||||||||
| 221,441 |
FNMA |
4.000 | 09/01/41 | 232,013 | ||||||||||||
| 179,557 |
FNMA |
3.500 | 10/01/41 | 182,520 | ||||||||||||
| 197,872 |
FNMA |
4.000 | 11/01/41 | 206,425 | ||||||||||||
| 282,505 |
FNMA |
3.500 | 12/01/41 | 287,168 | ||||||||||||
| 711,513 |
FNMA |
3.500 | 12/01/41 | 723,255 | ||||||||||||
| 399,708 |
FNMA |
3.500 | 02/01/42 | 406,304 | ||||||||||||
| 1,177,812 |
FNMA |
3.000 | 04/01/42 | 1,152,410 | ||||||||||||
| 279,502 |
FNMA |
3.500 | 04/01/42 | 284,519 | ||||||||||||
| 1,978,946 |
FNMA |
3.500 | 06/01/42 | 2,012,824 | ||||||||||||
| 466,138 |
FNMA |
3.000 | 07/01/42 | 456,277 | ||||||||||||
| 963,346 |
FNMA |
3.000 | 11/01/42 | 942,569 | ||||||||||||
| 1,922,855 |
FNMA |
3.000 | 12/01/42 | 1,881,572 | ||||||||||||
| 18,133 |
Government National Mortgage Association (GNMA) |
5.500 | 07/15/33 | 19,964 | ||||||||||||
| 125,086 |
GNMA |
5.500 | 07/20/33 | 139,353 | ||||||||||||
| 13,992 |
GNMA |
5.000 | 03/15/34 | 15,110 | ||||||||||||
| 136,373 |
GNMA |
5.000 | 06/15/34 | 149,612 | ||||||||||||
98
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 97,474 |
GNMA |
5.500 | % | 02/15/37 | $ | 106,237 | ||||||||||
| 58,574 |
GNMA |
5.000 | 01/15/38 | 63,227 | ||||||||||||
| 24,758 |
GNMA |
5.000 | 04/15/38 | 26,725 | ||||||||||||
| 75,696 |
GNMA |
5.500 | 05/15/38 | 82,482 | ||||||||||||
| 16,501 |
GNMA |
6.000 | 08/15/38 | 18,318 | ||||||||||||
| 15,015 |
GNMA |
6.000 | 08/20/38 | 16,604 | ||||||||||||
| 260,852 |
GNMA |
5.500 | 07/15/39 | 284,216 | ||||||||||||
| 95,670 |
GNMA |
4.500 | 07/20/39 | 102,532 | ||||||||||||
| 30,777 |
GNMA |
5.000 | 07/20/39 | 33,652 | ||||||||||||
| 38,545 |
GNMA |
4.000 | 08/15/39 | 40,464 | ||||||||||||
| 484,243 |
GNMA |
4.500 | 03/15/40 | 517,989 | ||||||||||||
| 116,905 |
GNMA |
4.500 | 04/15/40 | 125,051 | ||||||||||||
| 61,028 |
GNMA |
5.000 | 04/15/40 | 66,553 | ||||||||||||
| 264,463 |
GNMA |
5.000 | 04/15/40 | 288,404 | ||||||||||||
| 643,713 |
GNMA |
4.500 | 04/20/40 | 693,848 | ||||||||||||
| 417,883 |
GNMA |
4.500 | 05/15/40 | 447,005 | ||||||||||||
| 313,876 |
GNMA |
5.000 | 05/20/40 | 345,785 | ||||||||||||
| 271,642 |
GNMA |
4.500 | 06/15/40 | 290,472 | ||||||||||||
| 259,488 |
GNMA |
5.000 | 06/15/40 | 282,978 | ||||||||||||
| 423,589 |
GNMA |
4.000 | 07/15/40 | 447,653 | ||||||||||||
| 857,113 |
GNMA |
4.000 | 09/15/41 | 904,314 | ||||||||||||
| 413,614 |
GNMA |
3.500 | 12/20/41 | 425,215 | ||||||||||||
| 973,166 |
GNMA |
3.000 | 09/15/42 | 964,996 | ||||||||||||
| 960,043 |
GNMA |
3.000 | 09/20/42 | 951,274 | ||||||||||||
| 1,978,664 |
GNMA |
3.500 | 11/15/42 | 2,040,501 | ||||||||||||
| 990,094 |
GNMA |
3.000 | 02/20/43 | 982,118 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL MORTGAGE BACKED |
|
43,521,985 | ||||||||||||||
|
|
|
|||||||||||||||
| MUNICIPAL BONDS - 1.0% |
| |||||||||||||||
| 250,000 |
Florida Hurricane Catastrophe Fund Finance Corp |
1.298 | 07/01/16 | 247,513 | ||||||||||||
| 200,000 |
New York State Urban Development Corp |
0.550 | 03/15/16 | 197,820 | ||||||||||||
| 200,000 |
New York State Urban Development Corp |
1.350 | 03/15/18 | 195,316 | ||||||||||||
| 200,000 |
State of California |
0.850 | 02/01/15 | 200,156 | ||||||||||||
| 100,000 |
State of California |
5.450 | 04/01/15 | 107,439 | ||||||||||||
| 200,000 |
State of California |
1.050 | 02/01/16 | 199,696 | ||||||||||||
| 100,000 |
State of California |
5.950 | 04/01/16 | 111,746 | ||||||||||||
| 200,000 |
State of Illinois |
4.511 | 03/01/15 | 209,772 | ||||||||||||
| 200,000 |
State of Illinois |
4.875 | 07/01/16 | 215,724 | ||||||||||||
| 200,000 |
University of Massachusetts Building Authority |
0.770 | 11/01/16 | 198,628 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL MUNICIPAL BONDS |
|
1,883,810 | ||||||||||||||
|
|
|
|||||||||||||||
| U.S. TREASURY SECURITIES - 19.4% |
| |||||||||||||||
| 1,320,000 |
United States Treasury Bond |
3.125 | 02/15/43 | 1,232,138 | ||||||||||||
| 1,000,000 |
United States Treasury Note |
0.250 | 05/31/14 | 1,000,586 | ||||||||||||
| 3,050,000 |
United States Treasury Note |
0.250 | 06/30/14 | 3,051,787 | ||||||||||||
| 1,000,000 |
United States Treasury Note |
0.250 | 09/30/14 | 1,000,352 | ||||||||||||
| 524,000 |
United States Treasury Note |
0.125 | 12/31/14 | 523,059 | ||||||||||||
| 1,385,000 |
United States Treasury Note |
0.250 | 01/31/15 | 1,384,730 | ||||||||||||
| 4,900,000 |
United States Treasury Note |
0.250 | 02/28/15 | 4,896,364 | ||||||||||||
| 2,115,000 |
United States Treasury Note |
0.250 | 05/31/15 | 2,111,282 | ||||||||||||
| 10,664,000 |
United States Treasury Note |
0.375 | 11/15/15 | 10,640,667 | ||||||||||||
| 2,360,000 |
United States Treasury Note |
0.250 | 05/15/16 | 2,334,925 | ||||||||||||
| 150,000 |
United States Treasury Note |
0.500 | 06/15/16 | 149,367 | ||||||||||||
| 520,000 |
United States Treasury Note |
0.875 | 01/31/18 | 510,738 | ||||||||||||
| 2,530,000 |
United States Treasury Note |
1.000 | 05/31/18 | 2,486,514 | ||||||||||||
| 4,735,000 |
United States Treasury Note |
1.750 | 05/15/23 | 4,434,621 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL U.S. TREASURY SECURITIES |
|
35,757,130 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL GOVERNMENT BONDS (Cost $90,001,824) |
89,627,923 | |||||||||||||||
|
|
|
|||||||||||||||
99
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| STRUCTURED ASSETS - 8.7% |
| |||||||||||||||
| ASSET BACKED - 4.6% |
| |||||||||||||||
| $ 250,000 |
Ally Auto Receivables Trust |
0.720 | % | 05/20/16 | $ | 249,903 | ||||||||||
| Series - 2013 SN1 (Class A3) |
||||||||||||||||
| 250,000 |
g | Ally Master Owner Trust |
4.250 | 04/15/17 | 262,773 | |||||||||||
| Series - 2010 2 (Class A) |
||||||||||||||||
| 250,000 |
g | Ally Master Owner Trust |
4.590 | 04/15/17 | 262,496 | |||||||||||
| Series - 2010 2 (Class B) |
||||||||||||||||
| 200,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
2.980 | 11/20/14 | 200,321 | |||||||||||
| Series - 2011 1A (Class B) |
||||||||||||||||
| 250,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
4.640 | 05/20/16 | 264,408 | |||||||||||
| Series - 2010 3A (Class A) |
||||||||||||||||
| 200,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
4.740 | 11/20/17 | 212,871 | |||||||||||
| Series - 2011 3A (Class B) |
||||||||||||||||
| 200,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
3.040 | 03/20/19 | 198,994 | |||||||||||
| Series - 2012 3A (Class B) |
||||||||||||||||
| 48,688 |
i | Bear Stearns Asset Backed Securities Trust |
0.563 | 11/25/39 | 47,437 | |||||||||||
| Series - 2005 SD3 (Class 2A1) |
||||||||||||||||
| 188,968 |
Centex Home Equity |
5.540 | 01/25/32 | 190,083 | ||||||||||||
| Series - 2002 A (Class AF6) |
||||||||||||||||
| 6,632 |
i | Countrywide Asset-Backed Certificates |
5.585 | 10/25/46 | 6,607 | |||||||||||
| Series - 2006 15 (Class A2) |
||||||||||||||||
| 175,000 |
g,i | DB/UBS Mortgage Trust |
5.728 | 11/10/46 | 186,041 | |||||||||||
| Series - 2011 LC1A (Class C) |
||||||||||||||||
| 490,625 |
g | Dominos Pizza Master Issuer LLC |
5.216 | 01/25/42 | 523,768 | |||||||||||
| Series - 2012 1A (Class A2) |
||||||||||||||||
| 187,472 |
g,i | Flagstar Home Equity Loan Trust |
5.781 | 01/25/35 | 187,446 | |||||||||||
| Series - 2007 1A (Class AF3) |
||||||||||||||||
| 75,000 |
Ford Credit Auto Owner Trust |
3.210 | 07/15/17 | 77,806 | ||||||||||||
| Series - 2011 A (Class D) |
||||||||||||||||
| 200,000 |
Ford Credit Auto Owner Trust |
2.930 | 10/15/18 | 201,813 | ||||||||||||
| Series - 2012 B (Class D) |
||||||||||||||||
| 200,000 |
Ford Credit Auto Owner Trust |
2.430 | 01/15/19 | 202,092 | ||||||||||||
| Series - 2012 C (Class D) |
||||||||||||||||
| 260,000 |
Ford Credit Auto Owner Trust |
1.860 | 08/15/19 | 251,715 | ||||||||||||
| Series - 2013 A (Class D) |
||||||||||||||||
| 200,000 |
g | Ford Credit Floorplan Master Owner Trust |
2.960 | 02/15/16 | 202,258 | |||||||||||
| Series - 2011 1 (Class D) |
||||||||||||||||
| 100,000 |
g | Hertz Vehicle Financing LLC |
4.170 | 03/25/16 | 103,409 | |||||||||||
| Series - 2011 1A (Class B1) |
||||||||||||||||
| 250,000 |
g | Hertz Vehicle Financing LLC |
5.290 | 03/25/16 | 265,390 | |||||||||||
| Series - 2009 2A (Class A2) |
||||||||||||||||
| 400,000 |
g | Hertz Vehicle Financing LLC |
5.930 | 03/25/16 | 424,401 | |||||||||||
| Series - 0 2A (Class B2) |
||||||||||||||||
| 203,905 |
Lehman XS Trust |
6.500 | 06/25/46 | 152,370 | ||||||||||||
| Series - 2006 13 (Class 2A1) |
||||||||||||||||
| 22,423 |
i | Long Beach Mortgage Loan Trust |
0.943 | 02/25/35 | 22,241 | |||||||||||
| Series - 2005 1 (Class M1) |
||||||||||||||||
| 250,000 |
g | Rental Car Finance Corp |
2.510 | 02/25/16 | 254,489 | |||||||||||
| Series - 2011 1A (Class A1) |
||||||||||||||||
| 19,036 |
i | Residential Asset Securities Corp |
0.623 | 04/25/35 | 18,542 | |||||||||||
| Series - 2005 KS3 (Class M3) |
||||||||||||||||
| 100,000 |
i | Residential Funding Mortgage Securities II, Inc |
6.060 | 02/25/36 | 99,021 | |||||||||||
| Series - 2006 HI1 (Class M2) |
||||||||||||||||
| 250,000 |
Santander Drive Auto Receivables Trust |
3.870 | 02/15/18 | 256,523 | ||||||||||||
| Series - 2012 2 (Class D) |
||||||||||||||||
| 46,577 |
i | Securitized Asset Backed Receivables LLC |
0.493 | 10/25/35 | 45,374 | |||||||||||
| Series - 2006 OP1 (Class A2C) |
||||||||||||||||
| 200,000 |
g,i,m | Sheridan Square CLO Ltd |
1.277 | 04/15/25 | 200,100 | |||||||||||
| Series - 2013 1A (Class X) |
||||||||||||||||
| 123,359 |
g | Sierra Receivables Funding Co LLC |
3.350 | 04/20/26 | 127,110 | |||||||||||
| Series - 2011 1A (Class A) |
||||||||||||||||
100
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 117,257 |
g | Sierra Receivables Funding Co LLC |
4.250 | % | 05/20/28 | $ | 120,726 | |||||||||
| Series - 2011 2A (Class B) |
||||||||||||||||
| 115,020 |
g | Sierra Receivables Funding Co LLC |
3.420 | 03/20/29 | 117,015 | |||||||||||
| Series - 2012 2A (Class B) |
||||||||||||||||
| 210,061 |
g | Sierra Receivables Funding Co LLC |
1.590 | 11/20/29 | 208,555 | |||||||||||
| Series - 2013 1A (Class A) |
||||||||||||||||
| 336,097 |
g | Sierra Receivables Funding Co LLC |
2.390 | 11/20/29 | 336,072 | |||||||||||
| Series - 2013 1A (Class B) |
||||||||||||||||
| 415,000 |
g | SLM Student Loan Trust |
4.370 | 04/17/28 | 446,768 | |||||||||||
| Series - 2011 A (Class A2) |
||||||||||||||||
| 105,000 |
g | SLM Student Loan Trust |
3.740 | 02/15/29 | 110,644 | |||||||||||
| Series - 2011 B (Class A2) |
||||||||||||||||
| 400,000 |
g | SLM Student Loan Trust |
3.830 | 01/17/45 | 425,223 | |||||||||||
| Series - 2012 A (Class A2) |
||||||||||||||||
| 76,273 |
i | Soundview Home Equity Loan Trust |
0.493 | 11/25/35 | 75,010 | |||||||||||
| Series - 2005 OPT3 (Class A4) |
||||||||||||||||
| 19,333 |
i | Structured Asset Investment Loan Trust |
0.793 | 05/25/35 | 19,228 | |||||||||||
| Series - 2005 4 (Class M1) |
||||||||||||||||
| 17,317 |
i | Structured Asset Investment Loan Trust |
0.473 | 12/25/35 | 17,251 | |||||||||||
| Series - 2005 10 (Class A5) |
||||||||||||||||
| 183,231 |
g,i | Structured Asset Securities Corp Mortgage Loan Trust |
0.413 | 10/25/36 | 175,985 | |||||||||||
| Series - 2006 GEL4 (Class A2) |
||||||||||||||||
| 200,000 |
g,i | Vitality Re IV Ltd |
2.770 | 01/09/16 | 202,360 | |||||||||||
| Series - 2013 IV B (Class ) |
||||||||||||||||
| 250,000 |
g | Volvo Financial Equipment LLC |
0.740 | 03/15/17 | 248,861 | |||||||||||
| Series - 2013 1A (Class A3) |
||||||||||||||||
| 100,000 |
g | Vornado DP LLC |
5.280 | 09/13/28 | 107,330 | |||||||||||
| Series - 2010 VNO (Class C) |
||||||||||||||||
| 95,648 |
g,m | Wachovia Amortization Controlled Heloc NIM |
5.683 | 08/12/47 | 99,474 | |||||||||||
| Series - 2006 N1 (Class N1) |
||||||||||||||||
| 17,832 |
i | Wells Fargo Home Equity Trust |
0.333 | 07/25/36 | 17,622 | |||||||||||
| Series - 2006 2 (Class A3) |
||||||||||||||||
|
|
|
|||||||||||||||
| TOTAL ASSET BACKED |
|
8,425,926 | ||||||||||||||
|
|
|
|||||||||||||||
| OTHER MORTGAGE BACKED - 4.1% |
| |||||||||||||||
| 120,000 |
Banc of America Commercial Mortgage Trust |
5.390 | 10/10/45 | 127,330 | ||||||||||||
| Series - 2006 6 (Class AM) |
||||||||||||||||
| 810,000 |
Banc of America Commercial Mortgage Trust |
5.675 | 07/10/46 | 897,012 | ||||||||||||
| Series - 2006 4 (Class AM) |
||||||||||||||||
| 130,000 |
i | Bear Stearns Commercial Mortgage Securities |
5.582 | 09/11/41 | 142,025 | |||||||||||
| Series - 2006 PW13 (Class AM) |
||||||||||||||||
| 250,000 |
i | Bear Stearns Commercial Mortgage Securities |
5.568 | 10/12/41 | 273,252 | |||||||||||
| Series - 2006 T24 (Class AM) |
||||||||||||||||
| 235,000 |
i | Commercial Mortgage Pass Through Certificates |
5.650 | 12/10/49 | 258,912 | |||||||||||
| Series - 2007 C9 (Class AM) |
||||||||||||||||
| 45,336 |
Countrywide Alternative Loan Trust |
5.500 | 08/25/16 | 45,980 | ||||||||||||
| Series - 2004 30CB (Class 1A15) |
||||||||||||||||
| 8,331 |
Countrywide Home Loan Mortgage Pass Through Trust |
5.250 | 05/25/35 | 8,248 | ||||||||||||
| Series - 2005 12 (Class 1A5) |
||||||||||||||||
| 250,000 |
Credit Suisse First Boston Mortgage Securities Corp |
4.771 | 07/15/37 | 258,471 | ||||||||||||
| Series - 2005 C3 (Class AJ) |
||||||||||||||||
| 60,000 |
i | Credit Suisse First Boston Mortgage Securities Corp |
5.100 | 08/15/38 | 61,375 | |||||||||||
| Series - 2005 C5 (Class C) |
||||||||||||||||
| 125,000 |
g | Credit Suisse Mortgage Capital Certificates |
5.626 | 05/15/23 | 138,878 | |||||||||||
| Series - 2006 OMA (Class D) |
||||||||||||||||
| 730,000 |
Credit Suisse Mortgage Capital Certificates |
5.509 | 09/15/39 | 783,421 | ||||||||||||
| Series - 2006 C4 (Class AM) |
||||||||||||||||
| 75,000 |
g | Credit Suisse Mortgage Capital Certificates |
5.383 | 02/15/40 | 77,862 | |||||||||||
| Series - 2009 RR1 (Class A3C) |
||||||||||||||||
| 200,000 |
g | GS Mortgage Securities Corp II |
4.049 | 04/10/34 | 199,346 | |||||||||||
| Series - 2012 ALOH (Class B) |
||||||||||||||||
| 100,000 |
g,i | GS Mortgage Securities Corp II |
4.276 | 04/10/34 | 97,986 | |||||||||||
| Series - 2012 GSMS (Class C) |
||||||||||||||||
101
TIAA-CREF FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 120,000 |
g,i | GS Mortgage Securities Corp II |
5.400 | % | 12/10/43 | $ | 124,267 | |||||||||
| Series - 2010 C2 (Class C) |
||||||||||||||||
| 70,000 |
g,i | GS Mortgage Securities Corp II |
5.400 | 12/10/43 | 74,729 | |||||||||||
| Series - 2010 C2 (Class B) |
||||||||||||||||
| 26,860 |
g,i | JP Morgan Chase Commercial Mortgage Securities Corp |
0.568 | 07/15/19 | 26,141 | |||||||||||
| Series - 2007 FL1A (Class A1) |
||||||||||||||||
| 100,000 |
g,i | JP Morgan Chase Commercial Mortgage Securities Corp |
5.431 | 07/15/46 | 103,974 | |||||||||||
| Series - 2011 C4 (Class C) |
||||||||||||||||
| 242,929 |
JP Morgan Chase Commercial Mortgage Securities Corp |
0.730 | 12/15/47 | 239,704 | ||||||||||||
| Series - 2013 C10 (Class A1) |
||||||||||||||||
| 450,000 |
i | JP Morgan Chase Commercial Mortgage Securities Corp |
6.140 | 02/15/51 | 469,640 | |||||||||||
| Series - 2007 C1 (Class AM) |
||||||||||||||||
| 536 |
i | JP Morgan Mortgage Trust |
4.115 | 04/25/35 | 536 | |||||||||||
| Series - 2005 A2 (Class 5A1) |
||||||||||||||||
| 60,000 |
LB-UBS Commercial Mortgage Trust |
5.378 | 11/15/38 | 64,377 | ||||||||||||
| Series - 2006 C7 (Class AM) |
||||||||||||||||
| 250,000 |
i | LB-UBS Commercial Mortgage Trust |
5.493 | 02/15/40 | 256,095 | |||||||||||
| Series - 2007 C2 (Class AM) |
||||||||||||||||
| 265,000 |
i | LB-UBS Commercial Mortgage Trust |
5.057 | 09/15/40 | 274,186 | |||||||||||
| Series - 2005 C5 (Class AJ) |
||||||||||||||||
| 431 |
MASTER Asset Securitization Trust |
5.000 | 05/25/35 | 428 | ||||||||||||
| Series - 2005 1 (Class 2A5) |
||||||||||||||||
| 170,000 |
i | Merrill Lynch Mortgage Trust |
6.441 | 02/12/51 | 179,140 | |||||||||||
| Series - 0 C1 (Class AJA) |
||||||||||||||||
| 200,000 |
i | Morgan Stanley Capital I |
5.478 | 02/12/44 | 219,191 | |||||||||||
| Series - 2007 HQ11 (Class AM) |
||||||||||||||||
| 252,000 |
g,i | Morgan Stanley Capital I |
5.420 | 09/15/47 | 265,586 | |||||||||||
| Series - 2011 C1 (Class C) |
||||||||||||||||
| 22,000 |
g,i | Morgan Stanley Capital I |
5.420 | 09/15/47 | 21,149 | |||||||||||
| Series - 2011 C1 (Class D) |
||||||||||||||||
| 30,000 |
i | Morgan Stanley Capital I |
5.544 | 11/12/49 | 32,549 | |||||||||||
| Series - 2007 T25 (Class AM) |
||||||||||||||||
| 55,000 |
i | Morgan Stanley Capital I Trust |
5.832 | 07/12/44 | 57,343 | |||||||||||
| Series - 2006 HQ9 (Class B) |
||||||||||||||||
| 100,000 |
i | Morgan Stanley Capital I Trust |
5.842 | 07/12/44 | 100,954 | |||||||||||
| Series - 2006 HQ9 (Class C) |
||||||||||||||||
| 88,794 |
Residential Accredit Loans, Inc |
4.350 | 03/25/34 | 90,545 | ||||||||||||
| Series - 2004 QS4 (Class A1) |
||||||||||||||||
| 181,713 |
i | Residential Accredit Loans, Inc |
0.383 | 05/25/46 | 135,505 | |||||||||||
| Series - 2006 QO5 (Class 2A1) |
||||||||||||||||
| 69,523 |
g,i | Springleaf Mortgage Loan Trust |
2.667 | 09/25/57 | 70,889 | |||||||||||
| Series - 2012 1A (Class A) |
||||||||||||||||
| 79,643 |
g,i | Springleaf Mortgage Loan Trust |
2.220 | 10/25/57 | 80,798 | |||||||||||
| Series - 0 2A (Class A) |
||||||||||||||||
| 285 |
i | Structured Adjustable Rate Mortgage Loan Trust |
0.953 | 03/25/35 | 286 | |||||||||||
| Series - 2005 6XS (Class A3) |
||||||||||||||||
| 670,000 |
Wachovia Bank Commercial Mortgage Trust |
5.383 | 12/15/43 | 706,303 | ||||||||||||
| Series - 2007 C30 (Class AM) |
||||||||||||||||
| 55,000 |
Wachovia Bank Commercial Mortgage Trust |
5.500 | 04/15/47 | 61,562 | ||||||||||||
| Series - 2007 C31 (Class A5) |
||||||||||||||||
| 250,000 |
i | Wachovia Bank Commercial Mortgage Trust |
5.660 | 04/15/47 | 239,994 | |||||||||||
| Series - 2007 C31 (Class AJ) |
||||||||||||||||
| 50,000 |
g,i | Wells Fargo Mortgage Backed Securities Trust |
5.276 | 11/15/43 | 53,710 | |||||||||||
| Series - 2010 C1 (Class B) |
||||||||||||||||
| 240,630 |
WF-RBS Commercial Mortgage Trust |
0.735 | 03/15/48 | 237,295 | ||||||||||||
| Series - 2013 C12 (Class A1) |
||||||||||||||||
|
|
|
|||||||||||||||
| TOTAL OTHER MORTGAGE BACKED |
|
7,556,974 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL STRUCTURED ASSETS (Cost $15,969,157) |
15,982,900 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL BONDS (Cost $177,129,273) |
175,845,005 | |||||||||||||||
|
|
|
|||||||||||||||
102
TIAA-CREF FUNDS - Bond Fund
| SHARES |
COMPANY |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| PREFERRED STOCKS - 0.0% |
| |||||||||||||||
| BANKS - 0.0% |
| |||||||||||||||
| 5,517 |
* | Federal Home Loan Mortgage Corp (FHLMC) |
8.375 | % | 12/30/49 | $ | 25,654 | |||||||||
| 17,265 |
* | Federal National Mortgage Association (FNMA) |
8.250 | 12/30/49 | 78,556 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL BANKS |
|
104,210 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL PREFERRED STOCKS (Cost $569,550) |
104,210 | |||||||||||||||
|
|
|
|||||||||||||||
|
PRINCIPAL |
ISSUER |
|||||||||||||||
| SHORT-TERM INVESTMENTS - 3.1% |
| |||||||||||||||
| TREASURY DEBT - 3.1% |
||||||||||||||||
| $ 400,000 |
United States Treasury Bill |
0.070 | 09/12/13 | 399,984 | ||||||||||||
| 200,000 |
United States Treasury Bill |
0.071 | 09/19/13 | 199,984 | ||||||||||||
| 4,200,000 |
United States Treasury Bill |
0.045 | 09/26/13 | 4,199,643 | ||||||||||||
| 300,000 |
United States Treasury Bill |
0.080 | 10/17/13 | 299,953 | ||||||||||||
| 600,000 |
United States Treasury Bill |
0.070 | 11/14/13 | 599,852 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL TREASURY DEBT |
|
5,699,416 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,699,224) |
5,699,416 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL INVESTMENTS - 99.1% (Cost $184,121,231) |
182,369,318 | |||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - 0.9% |
1,594,901 | |||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS - 100.0% | $ | 183,964,219 | ||||||||||||||
|
|
|
|||||||||||||||
| * | Non-income producing. |
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/2013, the aggregate value of these securities amounted to $30,187,046 or 16.4% of net assets. |
| h | These securities were purchased on a delayed delivery basis. |
| i | Floating or variable rate security. Coupon reflects the rate at period end. |
| m | Indicates a security that has been deemed illiquid. |
103
TIAA-CREF FUNDS - Money Market Fund
TIAA-CREF FUNDS
MONEY MARKET FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2013
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| SHORT-TERM INVESTMENTS - 97.3% |
||||||||||||||||
| CERTIFICATE OF DEPOSIT - 2.3% |
| |||||||||||||||
| $ 635,000 |
Toronto-Dominion Bank |
0.160 | % | 07/09/13 | $ | 635,000 | ||||||||||
| 590,000 |
Toronto-Dominion Bank |
0.170 | 07/16/13 | 590,000 | ||||||||||||
| 500,000 |
Toronto-Dominion Bank |
0.180 | 07/24/13 | 500,000 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL CERTIFICATE OF DEPOSIT |
1,725,000 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL PAPER - 39.6% |
|
|||||||||||||||
| 395,000 |
y | Australia & New Zealand Banking Group Ltd |
0.210 | 07/22/13 | 394,952 | |||||||||||
| 400,000 |
y | Australia & New Zealand Banking Group Ltd |
0.165 | 08/01/13 | 399,943 | |||||||||||
| 600,000 |
y | Australia & New Zealand Banking Group Ltd |
0.170 | 08/02/13 | 599,909 | |||||||||||
| 300,000 |
y | Australia & New Zealand Banking Group Ltd |
0.165 | 08/28/13 | 299,920 | |||||||||||
| 370,000 |
Bank of Nova Scotia |
0.230 | 09/09/13 | 369,835 | ||||||||||||
| 500,000 |
y | Coca-Cola Co |
0.160 | 08/06/13 | 499,920 | |||||||||||
| 300,000 |
y | Coca-Cola Co |
0.170 | 09/17/13 | 299,890 | |||||||||||
| 500,000 |
y | Coca-Cola Co |
0.160 | 10/04/13 | 499,789 | |||||||||||
| 380,000 |
y | Coca-Cola Co |
0.190 | 11/18/13 | 379,719 | |||||||||||
| 325,000 |
y | Commonwealth Bank of Australia |
0.183 | 07/08/13 | 324,988 | |||||||||||
| 385,000 |
y | Commonwealth Bank of Australia |
0.180 | 07/15/13 | 384,973 | |||||||||||
| 250,000 |
y | Commonwealth Bank of Australia |
0.240 | 08/20/13 | 249,917 | |||||||||||
| 400,000 |
y | Commonwealth Bank of Australia |
0.160 | 08/27/13 | 399,899 | |||||||||||
| 250,000 |
y | Commonwealth Bank of Australia |
0.200 | 09/12/13 | 249,899 | |||||||||||
| 450,000 |
Exxon Mobil Corp |
0.085 | 07/18/13 | 449,982 | ||||||||||||
| 1,000,000 |
Exxon Mobil Corp |
0.085 | 07/25/13 | 999,943 | ||||||||||||
| 500,000 |
Exxon Mobil Corp |
0.080 | 07/29/13 | 499,969 | ||||||||||||
| 532,000 |
y | Fairway Finance LLC |
0.140 | 07/02/13 | 531,998 | |||||||||||
| 525,000 |
y | Fairway Finance LLC |
0.155 | 07/12/13 | 524,975 | |||||||||||
| 300,000 |
y | Fairway Finance LLC |
0.160 | 07/16/13 | 299,980 | |||||||||||
| 300,000 |
y | Fairway Finance LLC |
0.170 | 08/06/13 | 299,949 | |||||||||||
| 300,000 |
y | Fairway Finance LLC |
0.175 | 09/24/13 | 299,876 | |||||||||||
| 250,000 |
General Electric Capital Corp |
0.180 | 07/29/13 | 249,965 | ||||||||||||
| 170,000 |
General Electric Capital Corp |
0.180 | 08/09/13 | 169,967 | ||||||||||||
| 500,000 |
General Electric Capital Corp |
0.180 | 08/21/13 | 499,872 | ||||||||||||
| 300,000 |
General Electric Capital Corp |
0.200 | 10/04/13 | 299,842 | ||||||||||||
| 500,000 |
General Electric Capital Corp |
0.180 | 11/04/13 | 499,685 | ||||||||||||
| 559,000 |
y | Johnson & Johnson |
0.070 | 07/09/13 | 558,991 | |||||||||||
| 197,000 |
JPMorgan Chase Bank NA |
0.155 | 07/17/13 | 196,987 | ||||||||||||
| 244,000 |
JPMorgan Chase Bank NA |
0.200 | 08/06/13 | 243,951 | ||||||||||||
| 268,000 |
JPMorgan Chase Bank NA |
0.220 | 08/07/13 | 267,940 | ||||||||||||
| 313,000 |
JPMorgan Chase Bank NA |
0.180-0.200 | 08/12/13 | 312,930 | ||||||||||||
| 204,000 |
JPMorgan Chase Bank NA |
0.225-0.230 | 08/14/13 | 203,943 | ||||||||||||
| 139,000 |
JPMorgan Chase Bank NA |
0.180 | 08/20/13 | 138,965 | ||||||||||||
| 116,000 |
JPMorgan Chase Bank NA |
0.260 | 09/03/13 | 115,946 | ||||||||||||
| 113,000 |
JPMorgan Chase Bank NA |
0.260 | 10/11/13 | 112,917 | ||||||||||||
| 200,000 |
JPMorgan Chase Bank NA |
0.260 | 10/21/13 | 199,838 | ||||||||||||
| 250,000 |
y | Jupiter Securitization Co LLC |
0.210 | 09/19/13 | 249,883 | |||||||||||
| 300,000 |
y | Liberty Street Funding LLC |
0.160 | 07/01/13 | 300,000 | |||||||||||
| 344,000 |
y | Liberty Street Funding LLC |
0.175 | 07/19/13 | 343,970 | |||||||||||
| 300,000 |
y | Liberty Street Funding LLC |
0.180 | 08/19/13 | 299,926 | |||||||||||
| 1,000,000 |
y | Merck & Co, Inc |
0.120 | 08/23/13 | 999,823 | |||||||||||
| 400,000 |
y | National Australia Funding Delaware, Inc |
0.250 | 08/05/13 | 399,903 | |||||||||||
| 250,000 |
y | National Australia Funding Delaware, Inc |
0.165 | 08/20/13 | 249,943 | |||||||||||
| 500,000 |
y | National Australia Funding Delaware, Inc |
0.165 | 08/21/13 | 499,883 | |||||||||||
| 290,000 |
y | National Australia Funding Delaware, Inc |
0.160 | 08/26/13 | 289,928 | |||||||||||
| 500,000 |
y | National Australia Funding Delaware, Inc |
0.170 | 09/04/13 | 499,846 | |||||||||||
| 500,000 |
y | Nestle Capital Corp |
0.140 | 07/18/13 | 499,967 | |||||||||||
104
TIAA-CREF FUNDS - Money Market Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 300,000 |
y | Nestle Capital Corp |
0.120 | % | 08/15/13 | $ | 299,955 | |||||||||
| 500,000 |
y | Nestle Capital Corp |
0.095 | 08/19/13 | 499,935 | |||||||||||
| 600,000 |
y | Nestle Capital Corp |
0.150 | 08/26/13 | 599,860 | |||||||||||
| 850,000 |
y | Novartis Finance Corp |
0.070 | 07/02/13 | 849,998 | |||||||||||
| 264,000 |
y | Old Line Funding LLC |
0.210 | 08/01/13 | 263,952 | |||||||||||
| 300,000 |
y | Old Line Funding LLC |
0.180 | 09/05/13 | 299,901 | |||||||||||
| 250,000 |
y | Old Line Funding LLC |
0.190 | 09/16/13 | 249,899 | |||||||||||
| 300,000 |
y | Old Line Funding LLC |
0.200 | 10/08/13 | 299,835 | |||||||||||
| 300,000 |
y | Old Line Funding LLC |
0.200 | 10/29/13 | 299,800 | |||||||||||
| 600,000 |
PACCAR Financial Corp |
0.145 | 08/09/13 | 599,906 | ||||||||||||
| 250,000 |
PACCAR Financial Corp |
0.125 | 09/12/13 | 249,937 | ||||||||||||
| 500,000 |
Province of British Columbia |
0.090 | 07/11/13 | 499,988 | ||||||||||||
| 400,000 |
Province of British Columbia |
0.140 | 07/19/13 | 399,972 | ||||||||||||
| 300,000 |
Province of British Columbia |
0.140 | 07/24/13 | 299,973 | ||||||||||||
| 400,000 |
Province of British Columbia |
0.150 | 10/07/13 | 399,837 | ||||||||||||
| 500,000 |
Province of Ontario Canada |
0.090 | 07/02/13 | 499,999 | ||||||||||||
| 250,000 |
Province of Ontario Canada |
0.140 | 07/05/13 | 249,996 | ||||||||||||
| 495,000 |
Province of Ontario Canada |
0.105 | 07/31/13 | 494,957 | ||||||||||||
| 500,000 |
Province of Ontario Canada |
0.125 | 09/04/13 | 499,887 | ||||||||||||
| 250,000 |
y | Province of Quebec Canada |
0.140 | 07/02/13 | 249,999 | |||||||||||
| 1,000,000 |
y | Province of Quebec Canada |
0.140 | 07/26/13 | 999,903 | |||||||||||
| 265,000 |
y | Standard Chartered Bank NY |
0.180 | 07/09/13 | 264,989 | |||||||||||
| 500,000 |
y | Standard Chartered Bank NY |
0.200-0.250 | 07/15/13 | 499,956 | |||||||||||
| 700,000 |
y | Standard Chartered Bank NY |
0.190-0.200 | 08/12/13 | 699,840 | |||||||||||
| 300,000 |
y | Standard Chartered Bank NY |
0.190 | 08/27/13 | 299,910 | |||||||||||
| 250,000 |
y | Toronto-Dominion Holdings USA, Inc |
0.155 | 09/30/13 | 249,902 | |||||||||||
| 250,000 |
y | Unilever Capital Corp |
0.195 | 12/12/13 | 249,778 | |||||||||||
| 500,000 |
US Bank NA |
0.270 | 07/15/13 | 499,947 | ||||||||||||
| 315,000 |
y | Wal-Mart Stores, Inc |
0.085 | 07/02/13 | 314,999 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMERCIAL PAPER |
30,151,846 | |||||||||||||||
|
|
|
|||||||||||||||
| GOVERNMENT AGENCY DEBT - 31.7% |
|
|||||||||||||||
| 1,000,000 |
Federal Home Loan Bank (FHLB) |
0.040 | 07/03/13 | 999,998 | ||||||||||||
| 470,000 |
FHLB |
0.060 | 07/05/13 | 469,997 | ||||||||||||
| 1,446,000 |
FHLB |
0.080-0.090 | 07/10/13 | 1,445,970 | ||||||||||||
| 655,000 |
FHLB |
0.055-0.060 | 07/12/13 | 654,989 | ||||||||||||
| 300,000 |
FHLB |
0.078 | 07/17/13 | 299,990 | ||||||||||||
| 173,000 |
FHLB |
0.085 | 07/24/13 | 172,991 | ||||||||||||
| 300,000 |
FHLB |
0.070 | 08/21/13 | 299,970 | ||||||||||||
| 1,000,000 |
FHLB |
0.065 | 08/23/13 | 999,904 | ||||||||||||
| 445,000 |
FHLB |
0.070 | 08/30/13 | 444,948 | ||||||||||||
| 600,000 |
FHLB |
0.090 | 09/04/13 | 599,903 | ||||||||||||
| 400,000 |
FHLB |
0.130 | 09/06/13 | 399,903 | ||||||||||||
| 1,000,000 |
FHLB |
0.085 | 09/11/13 | 999,830 | ||||||||||||
| 1,500,000 |
FHLB |
0.095-0.100 | 09/13/13 | 1,499,697 | ||||||||||||
| 525,000 |
FHLB |
0.100 | 09/17/13 | 524,886 | ||||||||||||
| 1,245,000 |
FHLB |
0.100-0.105 | 09/20/13 | 1,244,709 | ||||||||||||
| 455,000 |
FHLB |
0.100 | 09/25/13 | 454,891 | ||||||||||||
| 550,000 |
FHLB |
0.130-0.145 | 01/02/14 | 549,602 | ||||||||||||
| 688,000 |
Federal Home Loan Mortgage Corp (FHLMC) |
0.080-0.100 | 07/01/13 | 688,000 | ||||||||||||
| 800,000 |
FHLMC |
0.075 | 07/08/13 | 799,988 | ||||||||||||
| 564,000 |
FHLMC |
0.057-0.170 | 07/22/13 | 563,969 | ||||||||||||
| 1,000,000 |
FHLMC |
0.060 | 07/23/13 | 999,963 | ||||||||||||
| 895,000 |
FHLMC |
0.075-0.090 | 08/26/13 | 894,886 | ||||||||||||
| 500,000 |
FHLMC |
0.100 | 08/28/13 | 499,919 | ||||||||||||
| 155,000 |
FHLMC |
0.090 | 08/30/13 | 154,977 | ||||||||||||
| 1,000,000 |
FHLMC |
0.065 | 09/03/13 | 999,884 | ||||||||||||
| 135,000 |
FHLMC |
0.170 | 09/10/13 | 134,955 | ||||||||||||
| 200,000 |
FHLMC |
0.165 | 12/10/13 | 199,851 | ||||||||||||
| 300,000 |
FHLMC |
0.130 | 01/14/14 | 299,787 | ||||||||||||
| 200,000 |
FHLMC |
0.160 | 01/15/14 | 199,824 | ||||||||||||
105
TIAA-CREF FUNDS - Money Market Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 319,000 |
Federal National Mortgage Association (FNMA) |
0.060 | % | 07/01/13 | $ | 319,000 | ||||||||||
| 200,000 |
FNMA |
0.110 | 07/19/13 | 199,989 | ||||||||||||
| 200,000 |
FNMA |
0.095 | 07/24/13 | 199,988 | ||||||||||||
| 1,000,000 |
FNMA |
0.070 | 08/14/13 | 999,914 | ||||||||||||
| 1,000,000 |
FNMA |
0.090 | 08/21/13 | 999,873 | ||||||||||||
| 305,000 |
FNMA |
0.065 | 08/22/13 | 304,971 | ||||||||||||
| 480,000 |
FNMA |
0.110 | 08/28/13 | 479,915 | ||||||||||||
| 410,000 |
FNMA |
0.070 | 09/03/13 | 409,949 | ||||||||||||
| 600,000 |
FNMA |
0.068 | 09/16/13 | 599,913 | ||||||||||||
| 1,133,000 |
FNMA |
0.110 | 09/18/13 | 1,132,727 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL GOVERNMENT AGENCY DEBT |
24,144,420 | |||||||||||||||
|
|
|
|||||||||||||||
| TREASURY DEBT - 17.3% |
|
|||||||||||||||
| 415,000 |
United States Treasury Bill |
0.035-0.040 | 07/05/13 | 414,998 | ||||||||||||
| 1,200,000 |
United States Treasury Bill |
0.033-0.063 | 07/11/13 | 1,199,987 | ||||||||||||
| 400,000 |
United States Treasury Bill |
0.086 | 07/18/13 | 399,984 | ||||||||||||
| 300,000 |
United States Treasury Bill |
0.025 | 08/01/13 | 299,994 | ||||||||||||
| 500,000 |
United States Treasury Bill |
0.078 | 08/08/13 | 499,959 | ||||||||||||
| 905,000 |
United States Treasury Bill |
0.038-0.065 | 08/22/13 | 904,945 | ||||||||||||
| 750,000 |
United States Treasury Bill |
0.032-0.042 | 08/29/13 | 749,957 | ||||||||||||
| 500,000 |
United States Treasury Bill |
0.041 | 09/05/13 | 499,962 | ||||||||||||
| 250,000 |
United States Treasury Bill |
0.048 | 09/12/13 | 249,976 | ||||||||||||
| 1,000,000 |
United States Treasury Bill |
0.045 | 09/19/13 | 999,900 | ||||||||||||
| 413,000 |
United States Treasury Bill |
0.052 | 09/26/13 | 412,948 | ||||||||||||
| 250,000 |
United States Treasury Bill |
0.083 | 10/03/13 | 249,946 | ||||||||||||
| 429,000 |
United States Treasury Bill |
0.083-0.086 | 10/17/13 | 428,892 | ||||||||||||
| 200,000 |
United States Treasury Bill |
0.068 | 10/24/13 | 199,957 | ||||||||||||
| 100,000 |
United States Treasury Bill |
0.078 | 11/07/13 | 99,972 | ||||||||||||
| 259,000 |
United States Treasury Bill |
0.068-0.077 | 11/21/13 | 258,923 | ||||||||||||
| 150,000 |
United States Treasury Bill |
0.150 | 02/06/14 | 149,862 | ||||||||||||
| 250,000 |
United States Treasury Note |
1.000 | 07/15/13 | 250,081 | ||||||||||||
| 400,000 |
United States Treasury Note |
0.375 | 07/31/13 | 400,068 | ||||||||||||
| 705,000 |
United States Treasury Note |
0.750 | 08/15/13 | 705,567 | ||||||||||||
| 120,000 |
United States Treasury Note |
0.750 | 09/15/13 | 120,150 | ||||||||||||
| 650,000 |
United States Treasury Note |
0.125 | 09/30/13 | 649,892 | ||||||||||||
| 585,000 |
United States Treasury Note |
0.500 | 10/15/13 | 585,597 | ||||||||||||
| 200,000 |
United States Treasury Note |
0.250 | 10/31/13 | 200,066 | ||||||||||||
| 680,000 |
United States Treasury Note |
0.500 | 11/15/13 | 680,814 | ||||||||||||
| 88,000 |
United States Treasury Note |
0.125 | 12/31/13 | 87,989 | ||||||||||||
| 400,000 |
United States Treasury Note |
0.250 | 01/31/14 | 400,281 | ||||||||||||
| 249,000 |
United States Treasury Note |
0.250 | 02/28/14 | 249,178 | ||||||||||||
| 100,000 |
United States Treasury Note |
0.250 | 03/31/14 | 100,068 | ||||||||||||
| 400,000 |
United States Treasury Note |
0.250 | 04/30/14 | 400,360 | ||||||||||||
| 350,000 |
United States Treasury Note |
1.000 | 05/15/14 | 352,586 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL TREASURY DEBT |
13,202,859 | |||||||||||||||
|
|
|
|||||||||||||||
| VARIABLE RATE SECURITIES - 6.4% |
|
|||||||||||||||
| 400,000 |
i | Federal Farm Credit Bank (FFCB) |
0.130 | 07/01/13 | 400,000 | |||||||||||
| 500,000 |
i | FFCB |
0.180 | 07/01/13 | 499,901 | |||||||||||
| 500,000 |
i | FFCB |
0.201 | 07/02/13 | 500,088 | |||||||||||
| 250,000 |
i | FFCB |
0.323 | 08/19/13 | 249,983 | |||||||||||
| 200,000 |
i | FFCB |
0.261 | 08/26/13 | 199,985 | |||||||||||
| 310,000 |
i | FFCB |
0.290 | 08/26/13 | 309,995 | |||||||||||
| 250,000 |
i | FFCB |
0.250 | 09/23/13 | 249,989 | |||||||||||
| 300,000 |
i | FFCB |
0.310 | 09/23/13 | 299,997 | |||||||||||
| 250,000 |
i | FFCB |
0.230 | 10/15/13 | 249,934 | |||||||||||
| 500,000 |
i | Federal Home Loan Bank (FHLB) |
0.280 | 08/16/13 | 500,000 | |||||||||||
| 200,000 |
i | Federal National Mortgage Association (FNMA) |
0.172 | 06/20/14 | 199,971 | |||||||||||
106
TIAA-CREF FUNDS - Money Market Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 500,000 |
i | Canadian Imperial Bank of Commerce |
0.285 | % | 01/03/14 | $ | 500,089 | |||||||||
| 400,000 |
i | Royal Bank of Canada |
0.390 | 07/15/13 | 400,000 | |||||||||||
| 300,000 |
i | Royal Bank of Canada |
0.290 | 06/10/14 | 300,000 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL VARIABLE RATE SECURITIES |
4,859,932 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $74,084,057) |
74,084,057 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL INVESTMENTS - 97.3% (Cost $74,084,057) |
74,084,057 | |||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - 2.7% |
2,059,995 | |||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS - 100.0% | $ | 76,144,052 | ||||||||||||||
|
|
|
|||||||||||||||
| i | Floating or variable rate security. Coupon reflects the rate at period end. |
| y | Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities are deemed liquid and may be sold in transactions exempt from registration only to dealers in that program or other “accredited investors.” At 6/30/2013, the aggregate value of these securities was $19,624,970 or 25.8% of net assets. |
107
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 Board of Trustees.
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 semi-annual reporting period.
(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s second fiscal quarter of the 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)(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-CREF LIFE FUNDS | ||||||
| Dated: August 16, 2013 | By: | /s/ Roger W. Ferguson, Jr. | ||||
| Roger W. Ferguson, Jr. | ||||||
| Principal Executive Officer and 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: August 16, 2013 | By: | /s/ Roger W. Ferguson, Jr. | ||||
| Roger W. Ferguson, Jr. | ||||||
| Principal Executive Officer and President | ||||||
| (principal executive officer) | ||||||
| Dated: August 16, 2013 | By: | /s/ Phillip G. Goff | ||||
| Phillip G. Goff | ||||||
| Principal Financial Officer, Principal Accounting | ||||||
| Officer and Treasurer | ||||||
| (principal financial officer) | ||||||
EXHIBIT INDEX
Item 12. Exhibits.
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