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)
John M. McCann, Esq.
F. Scott Thomas, Esq.
c/o TIAA-CREF
8500 Andrew Carnegie Blvd.
Charlotte, NC 28262-8500
(Name and address of agent for service)
Registrant’s telephone number, including area code: 704-595-1000
Date of fiscal year end: December 31
Date of reporting period: June 30, 2014
Item 1. Reports to Stockholders.
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| Inside back cover | ||||||
Understanding your TIAA-CREF Life Funds report
This semiannual report contains information about the eleven TIAA-CREF Life Funds and describes the funds’ results for the six months ended June 30, 2014. 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, 2014. |
| • | 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 2014 Semiannual Report n 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 n 2014 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 21 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 leading 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 certain publicly traded real estate investment trusts in the United States that own, manage and lease investment-grade commercial real estate.
4 2014 Semiannual Report n 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.
Composite Index
The Balanced Fund Composite Index is a composite of three unmanaged benchmark indexes, each of which represents one of the three market sectors in which the underlying funds invest: domestic equity (Russell 3000 Index), international equity (MSCI EAFE Index), and fixed income (Barclays U.S. Aggregate Bond Index). The fund’s composite benchmark combines those public indexes in proportions that reflect the fund’s target market sector allocations.
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 n 2014 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, 2014–June 30, 2014), with the exception of the Balanced Fund, which commenced operations on January 31, 2014. See page 38 for details.
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 2014 Semiannual Report n TIAA-CREF Life Funds
Performance for the six months ended June 30, 2014
The Growth Equity Fund returned 3.22% for the period, compared with the 6.31% return of its benchmark, the Russell 1000® Growth Index. For the twelve months ended June 30, 2014, the fund returned 29.13%, versus 26.92% for the index.
The broad U.S. stock market, as measured by the Russell 3000® Index, rose 6.94% in the first half of 2014. Investors were emboldened by the strengthening domestic economy—a drop in unemployment and a rise in housing prices and consumer spending—and efforts by the Federal Reserve to stimulate economic activity by keeping interest rates low.
For the six-month period, growth equities lagged the broad U.S. equity market by nearly one percentage point. Within the growth category, large-cap stocks outperformed small caps, which gained 2.22%, but underperformed mid caps, which were up 6.51%. (Returns by investment style and capitalization size are based on the Russell indexes.)
For the ten years ended June 30, 2014, the Russell 1000 Growth Index garnered an average annual return of 8.20%, versus the 8.23% average gain of the Russell 3000 Index.
Energy and utilities were standout performers
All ten industry sectors of the Russell 1000 Growth Index produced gains for the period. The best performing sectors were energy (up 25.0%) and utilities (up 16.8%). Another strong contributor was the materials sector (up 8.7%). The index’s largest sectors were information technology (up 6.5%), consumer discretionary (up 0.4%), health care (up 9.7%) and industrials (up 4.5%). Together, these four sectors made up nearly three-quarters of the benchmark’s total market capitalization on June 30, 2014.
For the first half of the year, the fund did not keep up with its benchmark primarily due to stock selection. Notable detractors included overweight positions in Amazon.com, railroad operator Kansas City Southern and MasterCard. An underweight position in energy giant Schlumberger and a nonbenchmark position in telecommunications and media firm SoftBank also weighed on relative performance.
These detractors were partly offset by positive contributions to relative performance from successful stock choices, such as overweight positions in genetic research products provider Illumina, drug manufacturer Allergan, social media company Facebook, software developer Adobe Systems and oil and gas producer EOG Resources.
TIAA-CREF Life Funds n 2014 Semiannual Report 7
Growth Equity Fund
Performance as of June 30, 2014
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Growth Equity Fund |
4/3/2000 | 3.22 | % | 29.13 | % | 19.14 | % | 8.27 | % | |||||||||||
| Russell 1000® Growth Index |
— | 6.31 | 26.92 | 19.24 | 8.20 | |||||||||||||||
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, 2014
| Growth Equity Fund
|
Beginning
|
Ending
|
Expenses paid
|
|||||||||
| Actual return |
$1,000.00 | $1,032.23 | $2.62 | |||||||||
| 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, 2014. 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 2014 Semiannual Report n TIAA-CREF Life Funds
Growth Equity Fund
TIAA-CREF Life Funds n 2014 Semiannual Report 9
Performance for the six months ended June 30, 2014
The Growth & Income Fund returned 6.65% for the period, compared with the 7.14% return of its benchmark, the S&P 500® Index. For the twelve months ended June 30, 2014, the fund returned 26.67%, versus 24.61% for the index.
The period began on a down note for equities. After harsh winter weather took a toll on the U.S. economy in the first quarter of 2014, investors were encouraged by improvements in employment, consumer spending and housing in the second quarter. The Federal Reserve began to reduce its monthly bond purchases but held short-term interest rates near zero.
For the first half of the year, the S&P 500, a market capitalization-weighted index comprised of 500 leading companies in major industries of the U.S. economy, outperformed the 6.94% 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 is comprised of small- and mid-cap stocks, and small caps significantly underperformed large caps for the period.
For the ten years ended June 30, 2014, the S&P 500 posted an average annual return of 7.78%, versus 8.23% for the Russell 3000.
Stock choices hamper fund’s relative performance
All ten industry sectors of the S&P 500 Index posted positive returns for the period. Defensive stocks led, with the utilities, energy and health care sectors returning 18.7%, 13.0% and 10.6%, respectively. Together, these sectors represented more than one-quarter of the index’s market capitalization as of June 30, 2014. Consumer discretionary, industrials and telecommunication services lagged the group.
For the six-month period, the fund produced gains but trailed its benchmark because of unfavorable stock selections. Several of the fund’s positions in out-of-benchmark holdings in consumer stocks—Ctrip.com International, Wolverine World Wide and The Container Store Group—and overweights in Kansas City Southern and Bank of America detracted from performance.
Some of the fund’s losses were offset by favorable stock selections, including overweights in energy companies Halliburton, EOG Resources and Cheniere Energy and positions in out-of-benchmark health care holdings Illumina and Shire.
10 2014 Semiannual Report n TIAA-CREF Life Funds
Growth & Income Fund
Performance as of June 30, 2014
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Growth & Income Fund |
4/3/2000 | 6.65 | % | 26.67 | % | 18.74 | % | 9.90 | % | |||||||||||
| S&P 500 Index |
— | 7.14 | 24.61 | 18.83 | 7.78 | |||||||||||||||
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, 2014
| Growth & Income Fund | Beginning
|
Ending
|
Expenses paid
|
|||||||||
| Actual return |
$1,000.00 | $1,066.45 | $2.66 | |||||||||
| 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, 2014. 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 n 2014 Semiannual Report 11
Growth & Income Fund
12 2014 Semiannual Report n TIAA-CREF Life Funds
Performance for the six months ended June 30, 2014
The Large-Cap Value Fund returned 5.95% for the period, compared with the 8.28% return of its benchmark, the Russell 1000® Value Index. For the twelve months ended June 30, 2014, the fund returned 22.72%, versus 23.81% for the benchmark.
The broad U.S. stock market, as measured by the Russell 3000® Index, rose 6.94% for the six-month period. After harsh winter weather took a toll on the U.S. economy in the first quarter of 2014, investors were encouraged by improvements in employment, consumer spending and housing in the second quarter. The Federal Reserve began to reduce its monthly bond purchases but held short-term interest rates near zero.
For the six months, large-cap value stocks outpaced the 6.31% gain in large-cap growth issues by nearly two percentage points. Within the value category, large-cap shares outperformed small caps, which returned 4.20%, but trailed mid-cap stocks, which rose 11.14%. (Returns by capitalization size and investment style are based on the Russell indexes.)
For the ten years ended June 30, 2014, the Russell 1000 Value Index posted an average annual return of 8.03%, slightly below the 8.20% average return of the Russell 1000 Growth Index.
Stock selections limit the fund’s relative performance
All ten of the industry sectors of the Russell 1000 Value Index generated positive returns for the period, with four achieving double-digit gains. Utilities delivered the strongest return, climbing 18.3% as falling bond yields spurred demand for dividend-paying stocks. Information technology was the next-best performer, surging 14.6%. Health care and energy also generated sizable gains, rising 11.8% and 10.3%, respectively. Financials—the index’s largest sector by market capitalization on June 30, 2014—lagged the index with a 5.6% return, hurt by losses from bank stocks in the second half of the period.
Despite its solid absolute return for the six months, the fund underperformed its benchmark, largely because of numerous unfavorable stock selections. Chief among these was an overweight position in international mining company Cliffs Natural Resources, which was impacted by a negative outlook for iron ore prices. Out-of-benchmark investments in Talisman Energy, airline AMR and Groupon, a local commerce marketplace, also detracted.
Other holdings partly offset these negative effects. Amid rising energy prices, these included a nonbenchmark position in energy supplier Weatherford International and overweight holdings in natural gas producer Williams Companies and energy contractor Nabors Industries. An overweight stake in Freescale Semiconductor aided results as well.
TIAA-CREF Life Funds n 2014 Semiannual Report 13
Large-Cap Value Fund
Performance as of June 30, 2014
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Large-Cap Value Fund |
10/28/2002 | 5.95 | % | 22.72 | % | 18.38 | % | 8.18 | % | |||||||||||
| Russell 1000®Value Index |
— | 8.28 | 23.81 | 19.23 | 8.03 | |||||||||||||||
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, 2014
| Large-Cap Value Fund
|
Beginning
|
Ending
|
Expenses paid
|
|||||||||
| Actual return |
$1,000.00 | $1,059.50 | $2.66 | |||||||||
| 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, 2014. 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 2014 Semiannual Report n TIAA-CREF Life Funds
Large-Cap Value Fund
TIAA-CREF Life Funds n 2014 Semiannual Report 15
Performance for the six months ended June 30, 2014
The Real Estate Securities Fund returned 15.53% for the period, compared with the 16.25% return of its benchmark, the FTSE NAREIT All Equity REITs Index. For the twelve months ended June 30, 2014, the fund returned 13.68%, versus 13.02% for the index.
After returning only 1.89% during 2013, real estate investment trusts (REITs)—as measured by the FTSE index—surged upward during the first and second quarters of 2014, gaining 8.00% and 6.97%, respectively, as declining yields on U.S. Treasury securities made them less attractive than REITs for some income-oriented investors.
For the six months, the FTSE index outpaced the 6.94% return of the Russell 3000® Index, a broad measure of the U.S. stock market, by more than eight-and-a-half percentage points. REITs also strongly outperformed the domestic investment-grade, fixed-rate bond market, which returned 3.93%, as measured by the Barclays U.S. Aggregate Bond Index.
For the ten years ended June 30, 2014, the fund’s benchmark posted an average annual gain of 9.67%, ahead of both the 8.23% average annual return of the Russell 3000 Index and the 4.93% average return of the Barclays aggregate index.
Stock selections trim the fund’s relative results
All but two of the benchmark’s 14 property sectors posted double-digit gains for the six months. A driving force behind the benchmark’s return was the 23.6% return from apartment REITs, which benefited from low vacancy rates and steadily rising rents in the first half of the year. Solid results from the manufactured homes (up 22.2%), self-storage (up 18.1%) and office (up 17.9%) sectors made other strong contributions. Even the timber sector, the index’s poorest performer, turned in a respectable 6.1% for the six months.
The fund produced a double-digit gain but slightly lagged its benchmark for the period, largely due to equity REITs that did not perform as expected. Chief among these were out-of-benchmark investments in Louisiana-Pacific, a paper and forest products manufacturer, and in Realogy Holdings, a real estate franchise firm. An overweight position in office REIT Parkway Properties trimmed relative results as well.
These negative effects were partly offset by positive contributions to relative performance from underweight positions in two portfolio holdings: wireless infrastructure provider Crown Castle International and forest products company Weyerhaeuser. An overweight stake in Essex Property Trust, an operator of upscale apartments on the West Coast, also boosted relative returns.
16 2014 Semiannual Report n TIAA-CREF Life Funds
Real Estate Securities Fund
Performance as of June 30, 2014
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Real Estate Securities Fund |
10/28/2002 | 15.53 | % | 13.68 | % | 23.33 | % | 8.83 | % | |||||||||||
| FTSE NAREIT All Equity REITs Index |
— | 16.25 | 13.02 | 23.65 | 9.67 | |||||||||||||||
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, 2014
| Real Estate Securities Fund
|
Beginning
|
Ending
|
Expenses paid
|
|||||||||
| Actual return |
$1,000.00 | $1,155.31 | $3.05 | |||||||||
| 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, 2014. 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 n 2014 Semiannual Report 17
Real Estate Securities Fund
18 2014 Semiannual Report n TIAA-CREF Life Funds
Performance for the six months ended June 30, 2014
The Small-Cap Equity Fund returned 4.13% for the period, compared with the 3.19% return of its benchmark, the Russell 2000® Index. For the twelve months ended June 30, 2014, the fund returned 24.75%, versus 23.64% for the index.
The period began on a down note for equities. After harsh winter weather took a toll on the U.S. economy in the first quarter of 2014, investors were encouraged by improvements in employment, consumer spending and housing in the second quarter. The Federal Reserve began to reduce its monthly purchases of longer-term bonds but held short-term interest rates near zero.
Small-cap stocks underperformed large caps by more than four percentage points and lagged the broader equity market by nearly four percentage points. (Returns by investment style and capitalization size are based on the Russell indexes.)
For the ten years ended June 30, 2014, the Russell 2000 posted an average annual return of 8.70%, versus the 8.23% average annual return of the broad-based Russell 3000® Index.
Defensive stocks lead Russell 2000 sectors
For the six months, among the ten industry sectors of the Russell 2000 Index, energy, utilities and health care performed the best, returning 17.0%, 14.8% and 4.8%, respectively. Laggards included the consumer discretionary, telecommunication services and industrials sectors, which returned –2.0%, –1.5% and 0.8%, respectively.
The fund outpaced its benchmark by nearly one percentage point due in large part to favorable stock choices. These included overweights in energy companies Penn Virginia and Targa Resources and information technology companies Synaptics and Cayium. Synaptic’s stock rose sharply after the maker of user-interface solutions announced its acquisition of Renesas SP Drivers and boosted its revenue projections for the fiscal fourth quarter.
For the six-month period, the fund benefited from participating in a securities lending program. The fund’s return was also positively affected by fair value pricing adjustments and the timing of foreign currency valuations. In combination, these factors helped the fund to outperform its benchmark, despite the effect of expenses.
These positive effects were partly offset by overweights in Employers Holdings, PROS Holdings and Entropic Communications. Employers Holdings retreated after the workers’ compensation insurer’s fourth-quarter 2013 earnings fell largely due to costs relating to California claims. An underweight stake in Questcor Pharmaceuticals also detracted from relative returns.
TIAA-CREF Life Funds n 2014 Semiannual Report 19
Small-Cap Equity Fund
Performance as of June 30, 2014
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Small-Cap Equity Fund |
10/28/2002 | 4.13 | % | 24.75 | % | 20.36 | % | 8.56 | % | |||||||||||
| Russell 2000®Index |
— | 3.19 | 23.64 | 20.21 | 8.70 | |||||||||||||||
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, 2014
| Small-Cap Equity Fund
|
Beginning
|
Ending
|
Expenses paid
|
|||||||||
| Actual return |
$1,000.00 | $1,041.30 | $2.73 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,022.12 | 2.71 | |||||||||
| * | “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, 2014. The fund’s annualized six-month expense ratio for that period was 0.54%. 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 2014 Semiannual Report n TIAA-CREF Life Funds
Small-Cap Equity Fund
TIAA-CREF Life Funds n 2014 Semiannual Report 21
Performance for the six months ended June 30, 2014
The Social Choice Equity Fund returned 7.09% for the period, compared with the 6.94% return of its benchmark, the Russell 3000® Index. For the twelve months ended June 30, 2014, the fund returned 23.77%, versus 25.22% 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 modestly outpace its benchmark.
For example, exclusions of benchmark holdings Amazon.com, General Electric, Exxon Mobil and Citigroup were among the largest contributors to the fund’s relative performance versus the benchmark. However, these positive effects were partly offset by the fund’s exclusion of Apple, Inc., Schlumberger, Wells Fargo and Microsoft. Amazon’s shares dropped in reaction to disappointing quarterly earnings. Exxon Mobil reported first-quarter earnings dropped 4% year-over-year. Concerns about potential sanctions on Russia, where the company is significantly invested, also weighed on its stock.
Stock choices push returns above benchmark
To compensate for the fund’s exclusion of some stocks in 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.
The fund’s relative performance was boosted by overweight positions in oil and gas producer EOG Resources, utility Pepco Holdings and information technology firm Applied Materials, as well as a position in energy supplier Weatherford International, an out-of-benchmark holding. EOG’s shares rose amid reports of higher-than-expected first-quarter profits and bullish forecasts.
These positive contributions more than offset detractions from other equities, including overweight positions in Discovery Communications (Class A shares), TJX Companies, Yahoo and Marathon Petroleum. Shares of Yahoo have remained flat in the first half of 2014 as revenues are down from 2013. Marathon Petroleum’s stock dropped after the energy company’s first-quarter earnings fell short of Wall Street expectations.
22 2014 Semiannual Report n TIAA-CREF Life Funds
Social Choice Equity Fund
Performance as of June 30, 2014
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Social Choice Equity Fund | 4/3/2000 | 7.09 | % | 23.77 | % | 18.95 | % | 8.26 | % | |||||||||||
| Russell 3000 Index |
— | 6.94 | 25.22 | 19.33 | 8.23 | |||||||||||||||
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, 2014
| Social Choice Equity Fund | Beginning
|
Ending
|
Expenses paid
|
|||||||||
| Actual return |
$1,000.00 | $1,070.90 | $1.13 | |||||||||
| 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, 2014. 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 n 2014 Semiannual Report 23
Social Choice Equity Fund
24 2014 Semiannual Report n TIAA-CREF Life Funds
Performance for the six months ended June 30, 2014
The Stock Index Fund returned 6.91% for the period, compared with the 6.94% return of its benchmark, the Russell 3000® Index. For the twelve months ended June 30, 2014, the fund returned 25.13%, versus 25.22% 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.
The broad U.S. stock market, as measured by the Russell 3000 Index, rose 6.94% in the first half of 2014. Investors were emboldened by the strengthening domestic economy—a drop in unemployment and a rise in housing prices and consumer spending—and efforts by the Federal Reserve to stimulate economic activity by keeping interest rates low. Large-cap stocks outperformed the broad equity market and outpaced small caps by more than four percentage points.
In terms of investment styles, value equities gained 7.95%, outperforming the 5.98% return of growth stocks and the broad market’s performance. (Returns by investment style and market capitalization are based on the Russell indexes.)
Defensive stocks lead Russell 3000 sectors
For the six months, all ten industry sectors of the Russell 3000 Index posted positive returns, with three generating double-digit gains. Utilities performed the best, returning 18.0%. Additional lift was provided by the energy, health care and materials sectors, which returned 14.0%, 10.2% and 8.3%, respectively. Together, these four sectors represented more than one-half of the benchmark’s total market capitalization on June 30, 2014.
Intercept Pharmaceuticals, American Airlines and entertainment conglomerate Liberty Global were among the top performers in the index.
The worst-performing sectors for the period included consumer discretionary, industrials and telecommunication services, which returned 1.0%, 3.9% and 4.4%, respectively. Loan service provider Navient and ARIAD Pharmaceuticals were among the stocks limiting the index’s return.
TIAA-CREF Life Funds n 2014 Semiannual Report 25
Stock Index Fund
Performance as of June 30, 2014
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Stock Index Fund |
1/4/1999 | 6.91 | % | 25.13 | % | 19.22 | % | 8.21 | % | |||||||||||
| Russell 3000®Index |
— | 6.94 | 25.22 | 19.33 | 8.23 | |||||||||||||||
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, 2014
| Stock Index Fund
|
Beginning
|
Ending
|
Expenses paid
|
|||||||||
| Actual return |
$1,000.00 | $1,069.14 | $0.46 | |||||||||
| 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, 2014. 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 2014 Semiannual Report n TIAA-CREF Life Funds
Stock Index Fund
TIAA-CREF Life Funds n 2014 Semiannual Report 27
Performance for the six months ended June 30, 2014
The International Equity Fund returned 2.88% for the period, compared with the 4.78% return of its benchmark, the MSCI EAFE Index. For the twelve months ended June 30, 2014, the fund returned 23.56%, versus 23.57% for the index.
In the first half of 2014, global investors fretted about the U.S. Federal Reserve’s move to reduce its monthly asset purchases, concerns over slowing growth in China and other emerging markets, and geopolitical uncertainty in Ukraine. Foreign stocks, as measured by the MSCI EAFE Index, lagged the 6.94% return of U.S. equities, as measured by the Russell 3000® Index.
Market performance varied significantly across countries. U.K. stocks gained 5.2% and contributed the most to the benchmark’s return, while Israel and Denmark gained 21.1% and 19.7%, respectively. Underperforming countries included the Netherlands, Sweden, Ireland and Austria.
A weakening dollar increased returns for U.S. investors. In terms of local currencies, the MSCI EAFE Index gained 3.12% for the six months.
Stock positions detract from relative performance
The fund’s performance for the six-month period was constrained by overweight positions in U.K.-based food and beverage ingredient provider Tate & Lyle, Japanese auto manufacturer Mazda Motor and by nonbenchmark positions in U.K. grocery distributor Ocado Group and National Bank of Greece.
The effect of unfavorable position sizes was lessened by the fund’s out-of-benchmark positions in global engineering company Larsen & Toubro and Indian auto components manufacturer Eicher Motors, and by overweight positions in British Sky Broadcasting and French auto manufacturer Renault. Additionally, for the six-month period, the fund benefited from participating in a securities lending program.
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, both of which benefited the fund’s relative performance during the period, despite the effect of expenses. 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 2014 Semiannual Report n TIAA-CREF Life Funds
International Equity Fund
Performance as of June 30, 2014
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| International Equity Fund |
4/3/2000 | 2.88 | % | 23.56 | % | 13.64 | % | 7.20 | % | |||||||||||
| MSCI EAFE Index |
— | 4.78 | 23.57 | 11.77 | 6.93 | |||||||||||||||
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, 2014
| International Equity Fund
|
Beginning
|
Ending
|
Expenses paid
|
|||||||||
| Actual return |
$1,000.00 | $1,028.78 | $3.02 | |||||||||
| 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, 2014. 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 n 2014 Semiannual Report 29
International Equity Fund
30 2014 Semiannual Report n TIAA-CREF Life Funds
Performance for the six months ended June 30, 2014
The Bond Fund returned 4.01% for the six-month period, compared with the 3.93% return of its benchmark, the Barclays U.S. Aggregate Bond Index. For the twelve months ended June 30, 2014, the fund returned 5.30%, versus 4.37% for the index.
The U.S. economy showed improvement in the second quarter of 2014 after a weak first-quarter performance. Unemployment declined to 6.1% in June 2014, down from 6.7% in December 2013 and 7.5% a year earlier. Advance estimates from the U.S. Department of Commerce show 4.0% annualized growth in gross domestic product (GDP) for the second quarter of 2014, offsetting a decline in GDP of 2.1% in the first quarter.
The economic struggles early in the year can be attributed to a range of factors, including cold weather, slowing growth in emerging markets and a geopolitical crisis in Ukraine. Adding to the uncertainty were concerns that the Federal Reserve’s decision to reduce its monthly purchases of government bonds could lead to higher interest rates. In the second quarter, economic data—particularly with regard to employment—improved, while inflation and interest rates remained low.
Corporate holdings drive outperformance
In this environment, bonds performed well for the period. U.S. Treasuries remained a higher-yielding alternative to other global government securities, while corporate and mortgage-backed securities benefited from low interest rates and the improving economy. As the benchmark’s largest sector, Treasuries had positive performance for the period, with a return of 2.7%. Yields on the 10-year Treasury declined from 3.0% on December 30, 2013 to 2.5% by period-end.
U.S. mortgage-backed securities, the second-largest benchmark weighting, also had strong performance, returning 4.1% for the period. Corporate bonds—a significant weighting—returned 5.7% while municipals bonds had an impressive 5.9% gain. Among the benchmark’s smaller weightings, government agency securities, commercial mortgage-backed securities and asset-backed securities had returns of 2.9%, 2.6% and 1.3%, respectively.
The fund outperformed its benchmark primarily because of overweight positions in, and successful selection among, corporate securities. The fund’s overweight to commercial mortgage-backed securities had a positive impact as well. An underweight to Treasuries detracted from the fund’s relative returns for the period.
TIAA-CREF Life Funds n 2014 Semiannual Report 31
Bond Fund
Performance as of June 30, 2014
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Bond Fund |
7/8/2003 | 4.01 | % | 5.30 | % | 5.47 | % | 4.65 | % | |||||||||||
| Barclays U.S. Aggregate Bond Index |
— | 3.93 | 4.37 | 4.85 | 4.93 | |||||||||||||||
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, 2014
| Bond Fund | Beginning
|
Ending
|
Expenses paid
|
|||||||||
| Actual return |
$1,000.00 | $1,040.06 | $1.77 | |||||||||
| 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, 2014. 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 2014 Semiannual Report n TIAA-CREF Life Funds
Bond Fund
TIAA-CREF Life Funds n 2014 Semiannual Report 33
Performance for the six months ended June 30, 2014
The Money Market Fund returned 0.00% for the six-month period, compared with the 0.01% return of the iMoneyNet Money Fund 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.
The supply of money market instruments continued to decline in the first half of 2014, with elevated prices and very low yields. In January 2014, the Federal Reserve (“Fed”) began to reduce its purchases of U.S. Treasuries at a rate of $10 billion per month.
Yields remained low on repurchase agreements, which often use Treasuries as collateral. Commercial paper issuance continued to decline, with outstanding issuance down by more than $1 trillion since mid-2007 due to excess corporate cash and borrowing at longer maturities.
Low interest rates continue to challenge money market funds
The Fed again kept its target federal funds rate (the interest rate U.S. commercial banks charge one another for overnight loans) near 0% during the period, with no signal of an intention to increase it. The three-month LIBOR rate declined from 0.25% on December 31, 2013, to 0.23% as of June 30, 2014. (LIBOR is a widely used indicator of the interest rates that banks expect to pay to other banks for loans on the London market.) The three-month T-bill rate declined from 0.7% in December 2013 to 0.4% at period-end.
Against this backdrop of low rates and little supply, management sought higher-yielding investments while remaining in full compliance with SEC regulations. Accordingly, the fund maintained more than half its portfolio in U.S. Treasury and government agency securities. With few options in the commercial paper market, managers selectively found opportunities abroad in Pacific Rim banks. As of June 24, 2014, the fund’s weighted average maturity was 51 days, versus 43 days for the average iMoneyNet fund.
In response to exceptionally low interest rates, part or all of the Money Market Fund’s 12b-1 distribution fees and/or administrative fees were voluntarily withheld (waived) by TIAA to prevent the fund’s yield from turning negative.
34 2014 Semiannual Report n TIAA-CREF Life Funds
Money Market Fund
Net annualized yield for the 7 days ended June 24, 2014*
| Current yield | Effective yield | |||||||
| Money Market Fund† |
0.00 | % | 0.00 | % | ||||
| iMoneyNet Money Fund 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, 2014
| Total return | Average annual total return |
|||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | ||||||||||||||||
| Money Market Fund† |
7/8/2003 | 0.00 | % | 0.00 | % | 0.07 | % | 1.79 | % | |||||||||||
| iMoneyNet Money Fund Averages—All Taxable‡ |
— | 0.01 | 0.01 | 0.03 | 1.46 | |||||||||||||||
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 Averages–All Taxable category is a simple average of over 1,000 taxable money market funds. You cannot invest in it directly. |
TIAA-CREF Life Funds n 2014 Semiannual Report 35
Money Market Fund
Expense example
Six months ended June 30, 2014
| Money Market Fund
|
Beginning
|
Ending
|
Expenses paid
|
|||||||||
| Actual return |
$1,000.00 | $1,000.00 | $0.55 | |||||||||
| 5% annual hypothetical return |
1,000.00 | 1,024.25 | 0.55 | |||||||||
| * | “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, 2014. The fund’s annualized six-month expense ratio for that period was 0.11%. The expense charges of the fund reflect a voluntary waiver and 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 waiver and reimbursement, the expenses of the fund would be higher and its performance lower. |
For more information about this expense example, please see page 6.
36 2014 Semiannual Report n TIAA-CREF Life Funds
Performance for the period ended June 30, 2014
The Balanced Fund was launched on January 31, 2014. From that date through June 30, 2014, the fund returned 5.50%, compared with the 6.26% return of its benchmark, the Life Balanced Fund Composite Index.
A fund of funds, the Balanced Fund seeks long-term total return consisting of capital appreciation and current income. The fund may invest in up to four sectors of the investment markets: U.S. equity (stocks), international equity (foreign stocks), fixed income (bonds) and money market securities (cash equivalents). The Balanced Fund does this by investing in various underlying mutual funds that in turn buy stocks, bonds and other securities in these market sectors.
Under normal circumstances, the Balanced Fund invests 50% of its assets in equities and 50% in fixed income. The fund may deviate from these target allocations by up to 10% depending upon current market conditions and outlook. The fund may also invest in other financial instruments that have the potential to increase total return, provided these instruments are consistent with the fund’s investment objective, restrictions, policies and current regulations.
For the five-month period, the Russell 3000® Index, a broad measure of the U.S. stock market, rose 10.43%. The MSCI EAFE, which measures the performance of the leading stocks in certain MSCI countries outside North America, climbed 9.17%. The broad domestic bond market, as measured by the Barclays U.S. Aggregate Bond Index, rose 2.41% for the period.
Equity holdings dampen the fund’s return
For the period from the fund’s inception through June 30, 2014, the fund underperformed its composite benchmark by less than a percentage point because some of the underlying funds lagged the broad market indexes used to calculate the benchmark.
During the period, the fund’s absolute return was hampered by poor results from international and U.S. stocks owned by the underlying funds. Those losses were partly offset by positive returns from the fund’s fixed-income holdings.
The fund’s relative performance lagged that of its benchmark partly because of the poor performance of the International Equity Fund and the Growth Equity Fund. Relative returns for the five months were also constrained by results from the Growth & Income Fund and the Large-Cap Value Fund. However, positive contributions to relative performance from the Bond Fund partly offset these negative effects.
TIAA-CREF Life Funds n 2014 Semiannual Report 37
Balanced Fund
Performance as of June 30, 2014
| Total return | ||||||||
| Inception date
|
since inception
|
|||||||
| Balanced Fund
|
|
1/31/2014
|
|
|
5.50
|
%‡
| ||
| Balanced Fund Composite Index*
|
|
—
|
|
|
6.26
|
§
| ||
| Broad market indexes |
||||||||
| Barclays U.S. Aggregate Bond Index |
— | 2.41 | § | |||||
| Russell 3000® Index
|
|
—
|
|
|
10.43
|
§
| ||
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.
| * | On June 30, 2014, the Balanced Fund Composite Index consisted of: 50.0% Barclays U.S. Aggregate Bond Index, 40.0% Russell 3000 Index and 10.0% MSCI EAFE Index. The fund’s benchmark, the components that make up the composite benchmark and the method of calculating the composite benchmark’s performance may vary over time. |
| ‡ | This is the cumulative return since the fund’s inception on January 31, 2014. |
| § | Performance is cumulative and is calculated from the inception date of the fund. |
Expense example
Period ended June 30, 2014
| Balanced Fund
|
Beginning
|
Ending
|
Expenses paid
|
Effective
|
||||||||||||
| Actual return |
$ | 1,000.00 | $ | 1,055.00 | $0.42 | $2.20 | ||||||||||
| 5% annual hypothetical return
|
|
1,000.00
|
|
|
1,024.30
|
|
|
0.50
|
|
|
2.61
|
| ||||
| * | “Expenses paid during period” is based on the fund’s actual expense ratio from commencement of operations on January 31, 2014 through June 30, 2014, multiplied by the average account value over the period, multiplied by 150/365 for the actual expenses and 181/365 for the hypothetical expenses. There were 150 days in the period from commencement of operations to June 30, 2014 and 181 days in the six months ended June 30, 2014. The fund’s annualized expense ratio for the 150-day period was 0.10%. The expense charges of the fund reflect a voluntary waiver and 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 waiver and reimbursement, the expenses of the fund would be higher and its performance lower. |
| † | “Effective expenses paid during period” is based on each fund’s total expense ratio from the commencement of operations through period end, which includes the fund’s own expense ratio plus its pro rata share of its underlying funds’ expenses (which the fund bears through its investment in the underlying funds). For the period, the total weighted average expense ratio was 0.52%. |
For more information about this expense example, please see page 6.
38 2014 Semiannual Report n TIAA-CREF Life Funds
TIAA-CREF Life Funds n 2014 Semiannual Report 39
| Summary portfolio of investments (unaudited) |
Growth Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | $ | 348,807 | 0.6 | % | ||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 4,050 | 3M Co | 580,122 | 0.9 | |||||||||||||
| 3,954 | Roper Industries, Inc | 577,324 | 0.9 | |||||||||||||
| 2,359 | W.W. Grainger, Inc | 599,823 | 1.0 | |||||||||||||
| Other | 946,701 | 1.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,703,970 | 4.3 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | ||||||||||||||||
| 26,807 | Nielsen Holdings NV | 1,297,727 | 2.1 | |||||||||||||
| 9,863 | * | Verisk Analytics, Inc | 591,977 | 0.9 | ||||||||||||
|
|
|
|||||||||||||||
| 1,889,704 | 3.0 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | ||||||||||||||||
| 3,725 | LVMH Moet Hennessy Louis Vuitton S.A. | 718,809 | 1.1 | |||||||||||||
| 11,784 | Nike, Inc (Class B) | 913,849 | 1.5 | |||||||||||||
| Other | 1,193,230 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,825,888 | 4.5 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | ||||||||||||||||
| 8,810 | Marriott International, Inc (Class A) | 564,721 | 0.9 | |||||||||||||
| 16,648 | Starbucks Corp | 1,288,222 | 2.1 | |||||||||||||
| Other | 446,742 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,299,685 | 3.6 | |||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 5,350 | Ameriprise Financial, Inc | 642,000 | 1.0 | |||||||||||||
| 4,730 | IntercontinentalExchange Group, Inc | 893,497 | 1.4 | |||||||||||||
| 14,529 | Moody’s Corp | 1,273,612 | 2.0 | |||||||||||||
| Other | 1,288,194 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,097,303 | 6.5 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 9,694 | EOG Resources, Inc | 1,132,841 | 1.8 | |||||||||||||
| 10,752 | Halliburton Co | 763,499 | 1.2 | |||||||||||||
| Other | 760,790 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,657,130 | 4.2 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | 509,722 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | ||||||||||||||||
| 14,809 | Abbott Laboratories | 605,688 | 0.9 | |||||||||||||
| Other | 293,903 | 0.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 899,591 | 1.4 | |||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||||
| 15,856 | Estee Lauder Cos (Class A) | 1,177,467 | 1.9 | |||||||||||||
|
|
|
|||||||||||||||
| 1,177,467 | 1.9 | |||||||||||||||
|
|
|
|||||||||||||||
| 40 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Growth Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| MATERIALS | ||||||||||||||||
| 5,583 | LyondellBasell Industries AF S.C.A | $ | 545,180 | 0.9 | % | |||||||||||
| 12,426 | Monsanto Co | 1,550,019 | 2.4 | |||||||||||||
| 2,955 | Sherwin-Williams Co | 611,419 | 1.0 | |||||||||||||
| Other | 579,778 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,286,396 | 5.2 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 16,849 | Comcast Corp (Class A) | 904,454 | 1.4 | |||||||||||||
| 12,475 | Walt Disney Co | 1,069,607 | 1.7 | |||||||||||||
| Other | 637,131 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,611,192 | 4.1 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 11,353 | * | Alkermes plc | 571,397 | 0.9 | ||||||||||||
| 3,605 | * | Biogen Idec, Inc | 1,136,693 | 1.8 | ||||||||||||
| 14,804 | Bristol-Myers Squibb Co | 718,142 | 1.1 | |||||||||||||
| 20,998 | * | Celgene Corp | 1,803,308 | 2.9 | ||||||||||||
| 19,720 | * | Gilead Sciences, Inc | 1,634,985 | 2.6 | ||||||||||||
| 12,204 | Novo Nordisk AS | 563,251 | 0.9 | |||||||||||||
| 8,398 | Perrigo Co plc | 1,224,092 | 1.9 | |||||||||||||
| Other | 2,299,147 | 3.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 9,951,015 | 15.8 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | 411,650 | 0.7 | ||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| 3,957 | * | Amazon.com, Inc | 1,285,154 | 2.0 | ||||||||||||
| 8,539 | Expedia, Inc | 672,532 | 1.1 | |||||||||||||
| 11,251 | Home Depot, Inc | 910,881 | 1.4 | |||||||||||||
| 508 | * | Priceline.com, Inc | 611,124 | 1.0 | ||||||||||||
|
|
|
|||||||||||||||
| 3,479,691 | 5.5 | |||||||||||||||
|
|
|
|||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||||
| 9,303 | Lam Research Corp | 628,697 | 1.0 | |||||||||||||
| Other | 990,429 | 1.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,619,126 | 2.6 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 22,391 | * | Adobe Systems, Inc | 1,620,213 | 2.6 | ||||||||||||
| 28,233 | * | Facebook, Inc | 1,899,798 | 3.0 | ||||||||||||
| 2,374 | * | Google, Inc | 1,365,715 | 2.2 | ||||||||||||
| 2,374 | * | Google, Inc (Class A) | 1,388,006 | 2.2 | ||||||||||||
| 24,420 | Intuit, Inc | 1,966,543 | 3.1 | |||||||||||||
| 21,477 | Mastercard, Inc (Class A) | 1,577,915 | 2.5 | |||||||||||||
| 20,355 | Oracle Corp | 824,988 | 1.3 | |||||||||||||
| 15,304 | * | Red Hat, Inc | 845,852 | 1.3 | ||||||||||||
| 17,175 | * | Salesforce.com, Inc | 997,524 | 1.6 | ||||||||||||
| 5,531 | Visa, Inc (Class A) | 1,165,437 | 1.8 | |||||||||||||
| 10,015 | * | VMware, Inc (Class A) | 969,552 | 1.5 | ||||||||||||
| Other | 971,341 | 1.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 15,592,884 | 24.7 | |||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 41 |
| Summary portfolio of investments (unaudited) | concluded |
Growth Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 29,747 | Apple, Inc | $ | 2,764,389 | 4.4 | % | |||||||||||
| Other | 597,243 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,361,632 | 5.3 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | ||||||||||||||||
| 13,500 | Softbank Corp | 1,006,060 | 1.6 | |||||||||||||
| Other | 395,141 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,401,201 | 2.2 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 17,855 | Delta Air Lines, Inc | 691,346 | 1.1 | |||||||||||||
| 5,979 | Kansas City Southern Industries, Inc | 642,802 | 1.0 | |||||||||||||
| 6,012 | Union Pacific Corp | 599,697 | 1.0 | |||||||||||||
|
|
|
|||||||||||||||
| 1,933,845 | 3.1 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $49,755,061) | 63,057,899 | 100.0 | |||||||||||||
|
|
|
|||||||||||||||
| PURCHASED OPTIONS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | 421 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 796 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL PURCHASED OPTIONS | (Cost $1,547) | 1,217 | 0.0 | |||||||||||||
|
|
|
|||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 526,709 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | 526,709 | 0.8 | ||||||||||||
|
|
|
|||||||||||||||
| 526,709 | 0.8 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $526,709) | 526,709 | 0.8 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $50,283,317) | 63,585,825 | 100.8 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (545,005 | ) | (0.8 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 63,040,820 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| * | Non-income producing. |
| c | Investments made with cash collateral received from securities on loan. |
The aggregate value of securities on loan is $518,118.
“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 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) |
Growth & Income Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | ||||||||||||||||
| 17,459 | Johnson Controls, Inc | $ | 871,728 | 0.6 | % | |||||||||||
| Other | 1,199,133 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,070,861 | 1.5 | |||||||||||||||
|
|
|
|||||||||||||||
| BANKS | ||||||||||||||||
| 127,522 | Bank of America Corp | 1,960,013 | 1.4 | |||||||||||||
| 18,934 | JPMorgan Chase & Co | 1,090,977 | 0.8 | |||||||||||||
| 24,579 | SunTrust Banks, Inc | 984,635 | 0.7 | |||||||||||||
| 39,924 | Wells Fargo & Co | 2,098,406 | 1.5 | |||||||||||||
| Other | 1,651,290 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,785,321 | 5.6 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 14,708 | Eaton Corp | 1,135,163 | 0.8 | |||||||||||||
| 111,041 | General Electric Co | 2,918,158 | 2.1 | |||||||||||||
| 18,082 | Honeywell International, Inc | 1,680,722 | 1.2 | |||||||||||||
| Other | 5,327,157 | 3.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 11,061,200 | 7.9 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 1,074,277 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | ||||||||||||||||
| 17,044 | Hasbro, Inc | 904,184 | 0.6 | |||||||||||||
| Other | 4,193,517 | 3.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,097,701 | 3.6 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | 1,721,103 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 12,368 | American Express Co | 1,173,352 | 0.8 | |||||||||||||
| 7,348 | Ameriprise Financial, Inc | 881,760 | 0.6 | |||||||||||||
| 42,223 | Morgan Stanley | 1,365,070 | 1.0 | |||||||||||||
| Other | 2,060,828 | 1.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,481,010 | 3.9 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 9,297 | Apache Corp | 935,464 | 0.7 | |||||||||||||
| 20,159 | Chevron Corp | 2,631,758 | 1.9 | |||||||||||||
| 13,950 | EOG Resources, Inc | 1,630,197 | 1.2 | |||||||||||||
| 24,129 | Halliburton Co | 1,713,400 | 1.2 | |||||||||||||
| 23,099 | Marathon Oil Corp | 922,112 | 0.6 | |||||||||||||
| Other | 4,963,394 | 3.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 12,796,325 | 9.1 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING | 1,429,182 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||||
| 12,464 | * | Constellation Brands, Inc (Class A) | 1,098,452 | 0.8 | ||||||||||||
| 17,740 | PepsiCo, Inc | 1,584,892 | 1.1 | |||||||||||||
| Other | 3,254,970 | 2.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,938,314 | 4.2 | |||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 43 |
| Summary portfolio of investments (unaudited) | continued |
Growth & Income Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | ||||||||||||||||
| 19,361 | Aetna, Inc | $ | 1,569,790 | 1.1 | % | |||||||||||
| 15,098 | St. Jude Medical, Inc | 1,045,536 | 0.8 | |||||||||||||
| Other | 2,712,164 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,327,490 | 3.8 | |||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||||
| 16,395 | Colgate-Palmolive Co | 1,117,811 | 0.8 | |||||||||||||
| 16,712 | Procter & Gamble Co | 1,313,396 | 0.9 | |||||||||||||
| Other | 1,690,985 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,122,192 | 2.9 | |||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | ||||||||||||||||
| 11,579 | ACE Ltd | 1,200,743 | 0.8 | |||||||||||||
| 27,122 | Hartford Financial Services Group, Inc | 971,239 | 0.7 | |||||||||||||
| 20,393 | Metlife, Inc | 1,133,035 | 0.8 | |||||||||||||
| Other | 1,513,676 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,818,693 | 3.4 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | ||||||||||||||||
| 19,147 | p | Dow Chemical Co | 985,305 | 0.7 | ||||||||||||
| 10,432 | LyondellBasell Industries AF S.C.A | 1,018,685 | 0.7 | |||||||||||||
| 4,077 | PPG Industries, Inc | 856,781 | 0.6 | |||||||||||||
| Other | 1,945,384 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,806,155 | 3.4 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 34,101 | Comcast Corp (Class A) | 1,830,542 | 1.3 | |||||||||||||
| 19,961 | Walt Disney Co | 1,711,456 | 1.2 | |||||||||||||
| Other | 2,782,623 | 2.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 6,324,621 | 4.5 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 5,128 | * | Actavis plc | 1,143,801 | 0.8 | ||||||||||||
| 12,960 | * | Celgene Corp | 1,113,005 | 0.8 | ||||||||||||
| 20,164 | * | Gilead Sciences, Inc | 1,671,797 | 1.2 | ||||||||||||
| 34,647 | Johnson & Johnson | 3,624,769 | 2.6 | |||||||||||||
| 33,759 | Merck & Co, Inc | 1,952,958 | 1.4 | |||||||||||||
| Other | 7,414,640 | 5.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 16,920,970 | 12.1 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| 21,781 | Home Depot, Inc | 1,763,390 | 1.2 | |||||||||||||
| 16,057 | Macy’s, Inc | 931,627 | 0.7 | |||||||||||||
| Other | 4,179,667 | 3.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 6,874,684 | 4.9 | |||||||||||||||
|
|
|
|||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||||
| 13,318 | * | NXP Semiconductors NV | 881,385 | 0.7 | ||||||||||||
| Other | 3,265,700 | 2.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,147,085 | 3.0 | |||||||||||||||
|
|
|
|||||||||||||||
| 44 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Growth & Income Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 3,323 | * | Alliance Data Systems Corp | $ | 934,594 | 0.7 | % | ||||||||||
| 20,502 | * | Facebook, Inc | 1,379,580 | 1.0 | ||||||||||||
| 5,072 | * | Google, Inc | 2,917,820 | 2.1 | ||||||||||||
| 70,362 | Microsoft Corp | 2,934,095 | 2.1 | |||||||||||||
| Other | 3,992,138 | 2.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 12,158,227 | 8.7 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 54,509 | Apple, Inc | 5,065,521 | 3.6 | |||||||||||||
| 8,765 | *,p | F5 Networks, Inc | 976,772 | 0.7 | ||||||||||||
| 24,946 | Hewlett-Packard Co | 840,181 | 0.6 | |||||||||||||
| Other | 2,991,350 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 9,873,824 | 7.0 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | ||||||||||||||||
| 28,072 | Verizon Communications, Inc | 1,373,563 | 1.0 | |||||||||||||
| Other | 1,290,903 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,664,466 | 1.9 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 30,788 | Delta Air Lines, Inc | 1,192,111 | 0.9 | |||||||||||||
| Other | 2,299,902 | 1.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,492,013 | 2.5 | |||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | ||||||||||||||||
| 10,234 | NextEra Energy, Inc | 1,048,781 | 0.7 | |||||||||||||
| Other | 2,507,607 | 1.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,556,388 | 2.5 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $106,187,647) | 139,542,102 | 99.4 | |||||||||||||
|
|
|
|||||||||||||||
| PURCHASED OPTIONS | ||||||||||||||||
| ENERGY | 1,620 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | 300 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL PURCHASED OPTIONS | (Cost $3,126) | 1,920 | 0.0 | |||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 45 |
| Summary portfolio of investments (unaudited) | concluded |
Growth & Income Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 4,027,268 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | $ | 4,027,268 | 2.9 | % | ||||||||||
|
|
|
|||||||||||||||
| 4,027,268 | 2.9 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $4,027,268) | 4,027,268 | 2.9 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $110,218,041) | 143,571,290 | 102.3 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (3,192,752 | ) | (2.3 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 140,378,538 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| * | Non-income producing. |
| c | Investments made with cash collateral received from securities on loan. |
| p | 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 $3,939,526.
“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 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) |
Large-Cap Value Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | $ | 544,106 | 0.5 | % | ||||||||||||
|
|
|
|||||||||||||||
| BANKS | ||||||||||||||||
| 125,863 | Bank of America Corp | 1,934,514 | 1.8 | |||||||||||||
| 32,966 | Citigroup, Inc | 1,552,699 | 1.4 | |||||||||||||
| 23,742 | JPMorgan Chase & Co | 1,368,014 | 1.3 | |||||||||||||
| 48,588 | Keycorp | 696,266 | 0.7 | |||||||||||||
| 67,332 | Regions Financial Corp | 715,066 | 0.7 | |||||||||||||
| 58,436 | Wells Fargo & Co | 3,071,396 | 2.8 | |||||||||||||
| Other | 1,549,950 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 10,887,905 | 10.1 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 149,014 | General Electric Co | 3,916,088 | 3.6 | |||||||||||||
| 14,964 | e | Joy Global, Inc | 921,483 | 0.8 | ||||||||||||
| 6,519 | SPX Corp | 705,421 | 0.7 | |||||||||||||
| Other | 1,879,671 | 1.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,422,663 | 6.8 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | ||||||||||||||||
| 15,151 | * | Jarden Corp | 899,212 | 0.8 | ||||||||||||
| 42,840 | Pulte Homes, Inc | 863,654 | 0.8 | |||||||||||||
| Other | 912,309 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,675,175 | 2.5 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | 3,255,798 | 3.0 | ||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 17,614 | Legg Mason, Inc | 903,774 | 0.8 | |||||||||||||
| 24,681 | Morgan Stanley | 797,937 | 0.7 | |||||||||||||
| 17,341 | State Street Corp | 1,166,356 | 1.1 | |||||||||||||
| Other | 1,385,678 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,253,745 | 3.9 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 9,070 | Apache Corp | 912,623 | 0.8 | |||||||||||||
| 20,960 | Chevron Corp | 2,736,328 | 2.5 | |||||||||||||
| 8,814 | ConocoPhillips | 755,624 | 0.7 | |||||||||||||
| 30,135 | *,e | EP Energy Corp | 694,612 | 0.6 | ||||||||||||
| 23,955 | Exxon Mobil Corp | 2,411,789 | 2.2 | |||||||||||||
| 25,926 | Marathon Oil Corp | 1,034,966 | 1.0 | |||||||||||||
| 25,837 | Nabors Industries Ltd | 758,833 | 0.7 | |||||||||||||
| 119,716 | Talisman Energy, Inc | 1,268,990 | 1.2 | |||||||||||||
| 13,978 | Williams Cos, Inc | 813,659 | 0.8 | |||||||||||||
| Other | 5,690,160 | 5.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 17,077,584 | 15.8 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING | ||||||||||||||||
| 15,647 | CVS Corp | 1,179,314 | 1.1 | |||||||||||||
| Other | 431,140 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,610,454 | 1.5 | |||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 47 |
| Summary portfolio of investments (unaudited) | continued |
Large-Cap Value Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||||
| 11,637 | SABMiller plc | $ | 674,422 | 0.6 | % | |||||||||||
| Other | 1,864,295 | 1.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,538,717 | 2.3 | |||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | ||||||||||||||||
| 26,514 | * | Hologic, Inc | 672,130 | 0.6 | ||||||||||||
| 16,996 | UnitedHealth Group, Inc | 1,389,423 | 1.3 | |||||||||||||
| Other | 2,603,022 | 2.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,664,575 | 4.3 | |||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||||
| 27,801 | Procter & Gamble Co | 2,184,881 | 2.0 | |||||||||||||
| Other | 913,045 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,097,926 | 2.9 | |||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | ||||||||||||||||
| 8,865 | ACE Ltd | 919,300 | 0.9 | |||||||||||||
| 12,892 | Allstate Corp | 757,018 | 0.7 | |||||||||||||
| 15,370 | American International Group, Inc | 838,895 | 0.8 | |||||||||||||
| 8,851 | * | Berkshire Hathaway, Inc (Class B) | 1,120,183 | 1.0 | ||||||||||||
| 20,699 | Hartford Financial Services Group, Inc | 741,231 | 0.7 | |||||||||||||
| 15,634 | Metlife, Inc | 868,625 | 0.8 | |||||||||||||
| Other | 2,306,290 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,551,542 | 7.0 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | 3,024,791 | 2.8 | ||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | 1,438,682 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 31,484 | Johnson & Johnson | 3,293,856 | 3.0 | |||||||||||||
| 32,822 | Merck & Co, Inc | 1,898,753 | 1.8 | |||||||||||||
| 48,635 | Pfizer, Inc | 1,443,487 | 1.3 | |||||||||||||
| Other | 3,431,179 | 3.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 10,067,275 | 9.3 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | ||||||||||||||||
| 8,184 | Vornado Realty Trust | 873,479 | 0.8 | |||||||||||||
| Other | 2,643,318 | 2.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,516,797 | 3.2 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | 1,644,800 | 1.5 | ||||||||||||||
|
|
|
|||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||||
| 9,775 | * | First Solar, Inc | 694,611 | 0.6 | ||||||||||||
| Other | 1,852,987 | 1.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,547,598 | 2.3 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 50,289 | Microsoft Corp | 2,097,051 | 2.0 | |||||||||||||
| Other | 2,408,760 | 2.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,505,811 | 4.2 | |||||||||||||||
|
|
|
|||||||||||||||
| 48 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
Large-Cap Value Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 44,258 | Cisco Systems, Inc | $ | 1,099,811 | 1.0 | % | |||||||||||
| 33,249 | Hewlett-Packard Co | 1,119,827 | 1.0 | |||||||||||||
| 93,922 | * | Nokia Corp | 710,050 | 0.7 | ||||||||||||
| Other | 1,552,070 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,481,758 | 4.1 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | ||||||||||||||||
| 54,447 | AT&T, Inc | 1,925,246 | 1.8 | |||||||||||||
| 18,385 | * | Level 3 Communications, Inc | 807,286 | 0.7 | ||||||||||||
| Other | 1,138,743 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,871,275 | 3.6 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 16,093 | * | American Airlines Group, Inc | 691,355 | 0.7 | ||||||||||||
| 13,684 | Con-Way, Inc | 689,811 | 0.6 | |||||||||||||
| Other | 1,509,960 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,891,126 | 2.7 | |||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | ||||||||||||||||
| 22,008 | Exelon Corp | 802,852 | 0.7 | |||||||||||||
| 8,193 | NextEra Energy, Inc | 839,619 | 0.8 | |||||||||||||
| Other | 2,975,548 | 2.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,618,019 | 4.3 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $91,218,897) | 108,188,122 | 99.9 | |||||||||||||
|
|
|
|||||||||||||||
| PURCHASED OPTIONS | ||||||||||||||||
| FOOD & STAPLES RETAILING | 925 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL PURCHASED OPTIONS | (Cost $970) | 925 | 0.0 | |||||||||||||
|
|
|
|||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 4,536,739 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | 4,536,739 | 4.2 | ||||||||||||
|
|
|
|||||||||||||||
| 4,536,739 | 4.2 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $4,536,739) | 4,536,739 | 4.2 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $95,756,606) | 112,725,786 | 104.1 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (4,440,139 | ) | (4.1 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 108,285,647 | 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 $4,421,528. |
“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 § 2014 Semiannual Report | 49 |
| Summary portfolio of investments (unaudited) |
Real Estate Securities Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| DIVERSIFIED REAL ESTATE ACTIVITIES | $ | 462,575 | 0.4 | % | ||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED REITS | ||||||||||||||||
| 60,000 | American Realty Capital Properties, Inc | 751,800 | 0.7 | |||||||||||||
| 50,000 | Retail Opportunities Investment Corp | 786,500 | 0.7 | |||||||||||||
| 195,000 | Spirit Realty Capital, Inc | 2,215,200 | 1.9 | |||||||||||||
| 36,000 | Vornado Realty Trust | 3,842,280 | 3.4 | |||||||||||||
| 30,000 | WP Carey, Inc | 1,932,000 | 1.7 | |||||||||||||
| Other | 947,737 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 10,475,517 | 9.2 | |||||||||||||||
|
|
|
|||||||||||||||
| FOREST PRODUCTS | ||||||||||||||||
| 82,500 | * | Louisiana-Pacific Corp | 1,239,150 | 1.1 | ||||||||||||
|
|
|
|||||||||||||||
| 1,239,150 | 1.1 | |||||||||||||||
|
|
|
|||||||||||||||
| HOMEBUILDING | ||||||||||||||||
| 30,000 | DR Horton, Inc | 737,400 | 0.7 | |||||||||||||
| Other | 269,040 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,006,440 | 0.9 | |||||||||||||||
|
|
|
|||||||||||||||
| HOTELS, RESORTS & CRUISE LINES | ||||||||||||||||
| 50,000 | * | Orient-Express Hotels Ltd | 727,000 | 0.6 | ||||||||||||
| Other | 636,900 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,363,900 | 1.2 | |||||||||||||||
|
|
|
|||||||||||||||
| INDUSTRIAL REITS | ||||||||||||||||
| 17,500 | EastGroup Properties, Inc | 1,124,025 | 1.0 | |||||||||||||
| 40,000 | First Industrial Realty Trust, Inc | 753,600 | 0.7 | |||||||||||||
| 127,500 | Prologis, Inc | 5,238,975 | 4.5 | |||||||||||||
| 43,000 | STAG Industrial, Inc | 1,032,430 | 0.9 | |||||||||||||
| 45,000 | Terreno Realty Corp | 869,850 | 0.9 | |||||||||||||
|
|
|
|||||||||||||||
| 9,018,880 | 8.0 | |||||||||||||||
|
|
|
|||||||||||||||
| MORTGAGE REITS | ||||||||||||||||
| 100,000 | NorthStar Realty Finance Corp | 1,738,000 | 1.5 | |||||||||||||
| Other | 1,454,900 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,192,900 | 2.8 | |||||||||||||||
|
|
|
|||||||||||||||
| OFFICE REITS | ||||||||||||||||
| 36,000 | Boston Properties, Inc | 4,254,480 | 3.7 | |||||||||||||
| 60,000 | Brandywine Realty Trust | 936,000 | 0.8 | |||||||||||||
| 15,000 | Digital Realty Trust, Inc | 874,800 | 0.8 | |||||||||||||
| 20,000 | Kilroy Realty Corp | 1,245,600 | 1.1 | |||||||||||||
| 97,500 | Parkway Properties, Inc | 2,013,375 | 1.8 | |||||||||||||
| 30,000 | SL Green Realty Corp | 3,282,300 | 2.9 | |||||||||||||
| Other | 1,071,200 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 13,677,755 | 12.1 | |||||||||||||||
|
|
|
|||||||||||||||
| 50 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Real Estate Securities Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| REAL ESTATE SERVICES | ||||||||||||||||
| 50,000 | Kennedy-Wilson Holdings, Inc | $ | 1,341,000 | 1.2 | % | |||||||||||
| Other | 480,600 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,821,600 | 1.6 | |||||||||||||||
|
|
|
|||||||||||||||
| RESIDENTIAL REITS | ||||||||||||||||
| 50,000 | Apartment Investment & Management Co (Class A) | 1,613,500 | 1.4 | |||||||||||||
| 32,000 | AvalonBay Communities, Inc | 4,550,080 | 4.0 | |||||||||||||
| 30,000 | Camden Property Trust | 2,134,500 | 1.9 | |||||||||||||
| 105,000 | Education Realty Trust, Inc | 1,127,700 | 1.0 | |||||||||||||
| 30,000 | Equity Lifestyle Properties, Inc | 1,324,800 | 1.2 | |||||||||||||
| 63,500 | Equity Residential | 4,000,500 | 3.5 | |||||||||||||
| 17,500 | Essex Property Trust, Inc | 3,235,925 | 2.9 | |||||||||||||
| 22,000 | Post Properties, Inc | 1,176,120 | 1.0 | |||||||||||||
| 22,000 | Sun Communities, Inc | 1,096,480 | 1.0 | |||||||||||||
|
|
|
|||||||||||||||
| 20,259,605 | 17.9 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAIL REITS | ||||||||||||||||
| 28,000 | Acadia Realty Trust | 786,520 | 0.7 | |||||||||||||
| 35,000 | Equity One, Inc | 825,650 | 0.7 | |||||||||||||
| 16,500 | Federal Realty Investment Trust | 1,995,180 | 1.8 | |||||||||||||
| 157,500 | General Growth Properties, Inc | 3,710,700 | 3.2 | |||||||||||||
| 44,000 | Regency Centers Corp | 2,449,920 | 2.1 | |||||||||||||
| 73,500 | Simon Property Group, Inc | 12,221,580 | 10.8 | |||||||||||||
| Other | 693,380 | 0.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 22,682,930 | 20.0 | |||||||||||||||
|
|
|
|||||||||||||||
| SPECIALIZED REITS | ||||||||||||||||
| 36,000 | American Tower Corp | 3,239,280 | 2.8 | |||||||||||||
| 68,500 | CubeSmart | 1,254,920 | 1.1 | |||||||||||||
| 30,000 | Extra Space Storage, Inc | 1,597,500 | 1.4 | |||||||||||||
| 25,000 | HCP, Inc | 1,034,500 | 0.9 | |||||||||||||
| 30,000 | Health Care REIT, Inc | 1,880,100 | 1.7 | |||||||||||||
| 40,000 | Healthcare Realty Trust, Inc | 1,016,800 | 0.9 | |||||||||||||
| 73,500 | Healthcare Trust of America, Inc | 884,940 | 0.8 | |||||||||||||
| 73,500 | Host Marriott Corp | 1,617,735 | 1.4 | |||||||||||||
| 25,000 | Potlatch Corp | 1,035,000 | 0.9 | |||||||||||||
| 18,000 | Public Storage, Inc | 3,084,300 | 2.7 | |||||||||||||
| 54,000 | RLJ Lodging Trust | 1,560,060 | 1.4 | |||||||||||||
| 162,500 | * | Strategic Hotels & Resorts, Inc | 1,902,875 | 1.7 | ||||||||||||
| 117,500 | Sunstone Hotel Investors, Inc | 1,754,275 | 1.6 | |||||||||||||
| 60,000 | Ventas, Inc | 3,846,000 | 3.4 | |||||||||||||
| Other | 641,000 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 26,349,285 | 23.1 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $93,446,833) | 111,550,537 | 98.3 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $93,446,833) | 111,550,537 | 98.3 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | 1,888,195 | 1.7 | ||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 113,438,732 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 51 |
| Summary portfolio of investments (unaudited) | concluded |
Real Estate Securities Fund § June 30, 2014
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.
| 52 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) |
Small-Cap Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | ||||||||||||||||
| 6,329 | * | Tenneco, Inc | $ | 415,815 | 0.8 | % | ||||||||||
|
|
|
|||||||||||||||
| 415,815 | 0.8 | |||||||||||||||
|
|
|
|||||||||||||||
| BANKS | ||||||||||||||||
| 11,272 | Cathay General Bancorp | 288,112 | 0.5 | |||||||||||||
| 14,359 | FirstMerit Corp | 283,590 | 0.5 | |||||||||||||
| 14,394 | Home Loan Servicing Solutions Ltd | 327,176 | 0.6 | |||||||||||||
| 31,074 | Investors Bancorp, Inc | 343,368 | 0.6 | |||||||||||||
| 31,752 | * | MGIC Investment Corp | 293,388 | 0.6 | ||||||||||||
| 7,312 | Prosperity Bancshares, Inc | 457,731 | 0.9 | |||||||||||||
| Other | 2,357,829 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,351,194 | 8.2 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 6,105 | Applied Industrial Technologies, Inc | 309,707 | 0.6 | |||||||||||||
| 4,083 | Crane Co | 303,612 | 0.6 | |||||||||||||
| 4,329 | EnerSys | 297,792 | 0.5 | |||||||||||||
| 9,900 | * | Orbital Sciences Corp | 292,545 | 0.5 | ||||||||||||
| 3,540 | * | Teledyne Technologies, Inc | 343,982 | 0.6 | ||||||||||||
| 3,360 | * | WABCO Holdings, Inc | 358,915 | 0.7 | ||||||||||||
| Other | 2,365,315 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,271,868 | 8.0 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | ||||||||||||||||
| 10,743 | * | TrueBlue, Inc | 296,185 | 0.6 | ||||||||||||
| 6,918 | * | WageWorks, Inc | 333,517 | 0.6 | ||||||||||||
| Other | 1,580,379 | 3.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,210,081 | 4.2 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | ||||||||||||||||
| 8,690 | Brunswick Corp | 366,110 | 0.7 | |||||||||||||
| Other | 687,213 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,053,323 | 2.0 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | ||||||||||||||||
| 6,203 | * | Marriott Vacations Worldwide Corp | 363,682 | 0.7 | ||||||||||||
| 16,536 | Service Corp International | 342,626 | 0.7 | |||||||||||||
| Other | 1,236,405 | 2.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,942,713 | 3.7 | |||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | 270,040 | 0.5 | ||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 20,474 | * | Pioneer Energy Services Corp | 359,114 | 0.7 | ||||||||||||
| 2,219 | Targa Resources Investments, Inc | 309,706 | 0.6 | |||||||||||||
| Other | 2,414,233 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,083,053 | 5.8 | |||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 53 |
| Summary portfolio of investments (unaudited) | continued |
Small-Cap Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| FOOD & STAPLES RETAILING | $ | 464,039 | 0.9 | % | ||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||||
| 3,580 | Sanderson Farms, Inc | 347,976 | 0.7 | |||||||||||||
| Other | 107,919 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 455,895 | 0.9 | |||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | ||||||||||||||||
| 5,120 | * | Align Technology, Inc | 286,925 | 0.5 | ||||||||||||
| 7,322 | * | Medidata Solutions, Inc | 313,455 | 0.6 | ||||||||||||
| 5,599 | * | WellCare Health Plans, Inc | 418,021 | 0.8 | ||||||||||||
| Other | 2,206,420 | 4.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,224,821 | 6.1 | |||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | 190,671 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | ||||||||||||||||
| 5,601 | Platinum Underwriters Holdings Ltd | 363,225 | 0.7 | |||||||||||||
| Other | 1,562,033 | 2.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,925,258 | 3.6 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | ||||||||||||||||
| 4,988 | Minerals Technologies, Inc | 327,113 | 0.6 | |||||||||||||
| Other | 2,009,250 | 3.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,336,363 | 4.4 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 6,064 | Lamar Advertising Co (Class A) | 321,392 | 0.6 | |||||||||||||
| 12,920 | * | Live Nation, Inc | 318,995 | 0.6 | ||||||||||||
| Other | 700,803 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,341,190 | 2.5 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 6,860 | * | Parexel International Corp | 362,482 | 0.7 | ||||||||||||
| Other | 3,392,085 | 6.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,754,567 | 7.1 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | ||||||||||||||||
| 24,784 | Cousins Properties, Inc | 308,561 | 0.6 | |||||||||||||
| 16,887 | CubeSmart | 309,370 | 0.6 | |||||||||||||
| 13,540 | DuPont Fabros Technology, Inc | 365,038 | 0.7 | |||||||||||||
| 13,193 | RLJ Lodging Trust | 381,146 | 0.7 | |||||||||||||
| 4,507 | Sovran Self Storage, Inc | 348,166 | 0.6 | |||||||||||||
| 30,360 | * | Strategic Hotels & Resorts, Inc | 355,516 | 0.7 | ||||||||||||
| Other | 2,679,866 | 5.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,747,663 | 8.9 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| 6,968 | Penske Auto Group, Inc | 344,916 | 0.6 | |||||||||||||
| Other | 2,851,034 | 5.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,195,950 | 6.0 | |||||||||||||||
|
|
|
|||||||||||||||
| 54 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Small-Cap Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||||
| 8,587 | * | Cavium Networks, Inc | $ | 426,431 | 0.8 | % | ||||||||||
| 35,088 | * | Lattice Semiconductor Corp | 289,476 | 0.6 | ||||||||||||
| Other | 1,609,784 | 3.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,325,691 | 4.4 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 7,850 | * | Aspen Technology, Inc | 364,240 | 0.7 | ||||||||||||
| 5,618 | * | Demandware, Inc | 389,721 | 0.7 | ||||||||||||
| 7,458 | * | LogMeIn, Inc | 347,692 | 0.7 | ||||||||||||
| 8,955 | * | Manhattan Associates, Inc | 308,320 | 0.6 | ||||||||||||
| 2,806 | * | Ultimate Software Group, Inc | 387,705 | 0.7 | ||||||||||||
| Other | 3,237,023 | 6.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,034,701 | 9.5 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 4,192 | *,e | Synaptics, Inc | 379,963 | 0.7 | ||||||||||||
| 4,358 | * | SYNNEX Corp | 317,480 | 0.6 | ||||||||||||
| Other | 2,399,544 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,096,987 | 5.8 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | 562,204 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 6,588 | Arkansas Best Corp | 286,644 | 0.6 | |||||||||||||
| Other | 599,847 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 886,491 | 1.7 | |||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | ||||||||||||||||
| 8,873 | Avista Corp | 297,423 | 0.5 | |||||||||||||
| 5,734 | Black Hills Corp | 352,010 | 0.7 | |||||||||||||
| 5,631 | New Jersey Resources Corp | 321,868 | 0.6 | |||||||||||||
| Other | 827,840 | 1.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,799,141 | 3.4 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $44,781,936) | 52,939,719 | 99.9 | |||||||||||||
|
|
|
|||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 4,255,302 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | 4,255,302 | 8.0 | ||||||||||||
|
|
|
|||||||||||||||
| 4,255,302 | 8.0 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $4,255,302) | 4,255,302 | 8.0 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $49,037,238) | 57,195,021 | 107.9 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (4,188,427 | ) | (7.9 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 53,006,594 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 55 |
| Summary portfolio of investments (unaudited) | concluded |
Small-Cap Equity Fund § June 30, 2014
| * | 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 $4,159,034. |
“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.
| 56 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) |
Social Choice Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | ||||||||||||||||
| 30,738 | Ford Motor Co | $ | 529,923 | 0.8 | % | |||||||||||
| Other | 916,836 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,446,759 | 2.1 | |||||||||||||||
|
|
|
|||||||||||||||
| BANKS | ||||||||||||||||
| 5,186 | PNC Financial Services Group, Inc | 461,813 | 0.7 | |||||||||||||
| 12,811 | US Bancorp | 554,973 | 0.8 | |||||||||||||
| Other | 1,361,305 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,378,091 | 3.4 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 4,343 | 3M Co | 622,091 | 0.9 | |||||||||||||
| 5,764 | Danaher Corp | 453,800 | 0.6 | |||||||||||||
| 1,667 | Precision Castparts Corp | 420,751 | 0.6 | |||||||||||||
| Other | 3,118,237 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,614,879 | 6.6 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 425,154 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | 708,843 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | ||||||||||||||||
| 6,026 | McDonald’s Corp | 607,059 | 0.8 | |||||||||||||
| 6,116 | Starbucks Corp | 473,256 | 0.7 | |||||||||||||
| Other | 685,528 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,765,843 | 2.5 | |||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 6,328 | American Express Co | 600,337 | 0.8 | |||||||||||||
| 12,551 | Bank of New York Mellon Corp | 470,411 | 0.7 | |||||||||||||
| 1,381 | BlackRock, Inc | 441,368 | 0.6 | |||||||||||||
| 5,723 | Capital One Financial Corp | 472,720 | 0.7 | |||||||||||||
| Other | 2,920,096 | 4.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,904,932 | 7.0 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 4,762 | EOG Resources, Inc | 556,487 | 0.8 | |||||||||||||
| 4,404 | Occidental Petroleum Corp | 451,983 | 0.7 | |||||||||||||
| 9,859 | Spectra Energy Corp | 418,810 | 0.6 | |||||||||||||
| Other | 5,510,260 | 7.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 6,937,540 | 10.0 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING | 684,687 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||||
| 12,385 | Mondelez International, Inc | 465,800 | 0.6 | |||||||||||||
| 8,355 | PepsiCo, Inc | 746,436 | 1.1 | |||||||||||||
| Other | 1,308,339 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,520,575 | 3.6 | |||||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 57 |
| Summary portfolio of investments (unaudited) | continued |
Social Choice Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | ||||||||||||||||
| 12,239 | Abbott Laboratories | $ | 500,575 | 0.7 | % | |||||||||||
| 8,071 | Medtronic, Inc | 514,607 | 0.7 | |||||||||||||
| Other | 1,436,904 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,452,086 | 3.5 | |||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||||
| 7,350 | Colgate-Palmolive Co | 501,123 | 0.7 | |||||||||||||
| 12,341 | Procter & Gamble Co | 969,879 | 1.4 | |||||||||||||
| Other | 762,771 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,233,773 | 3.2 | |||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | ||||||||||||||||
| 8,056 | * | Berkshire Hathaway, Inc (Class B) | 1,019,567 | 1.5 | ||||||||||||
| 5,132 | Prudential Financial, Inc | 455,568 | 0.7 | |||||||||||||
| 4,523 | Travelers Cos, Inc | 425,479 | 0.6 | |||||||||||||
| Other | 2,055,248 | 2.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,955,862 | 5.7 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | ||||||||||||||||
| 3,153 | Praxair, Inc | 418,845 | 0.6 | |||||||||||||
| Other | 2,720,908 | 3.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,139,753 | 4.5 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 3,056 | Time Warner Cable, Inc | 450,149 | 0.6 | |||||||||||||
| 7,408 | Time Warner, Inc | 520,412 | 0.8 | |||||||||||||
| Other | 1,197,887 | 1.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,168,448 | 3.1 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 4,884 | Amgen, Inc | 578,119 | 0.8 | |||||||||||||
| 1,651 | * | Biogen Idec, Inc | 520,577 | 0.8 | ||||||||||||
| 11,278 | Bristol-Myers Squibb Co | 547,096 | 0.8 | |||||||||||||
| 8,574 | * | Gilead Sciences, Inc | 710,870 | 1.0 | ||||||||||||
| 11,924 | Johnson & Johnson | 1,247,489 | 1.8 | |||||||||||||
| 14,855 | Merck & Co, Inc | 859,361 | 1.2 | |||||||||||||
| Other | 1,286,042 | 1.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,749,554 | 8.2 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | ||||||||||||||||
| 2,660 | Simon Property Group, Inc | 442,305 | 0.6 | |||||||||||||
| Other | 2,260,111 | 3.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,702,416 | 3.9 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| 9,243 | Lowe’s Companies, Inc | 443,572 | 0.7 | |||||||||||||
| Other | 2,664,507 | 3.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,108,079 | 4.5 | |||||||||||||||
|
|
|
|||||||||||||||
| 58 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
Social Choice Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||||
| 18,830 | Applied Materials, Inc | $ | 424,616 | 0.6 | % | |||||||||||
| 26,949 | Intel Corp | 832,724 | 1.2 | |||||||||||||
| 9,869 | Texas Instruments, Inc | 471,640 | 0.7 | |||||||||||||
| Other | 174,293 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,903,273 | 2.7 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 5,486 | Accenture plc | 443,488 | 0.6 | |||||||||||||
| 1,399 | * | Google, Inc | 804,817 | 1.1 | ||||||||||||
| 1,389 | * | Google, Inc (Class A) | 812,107 | 1.2 | ||||||||||||
| 4,723 | International Business Machines Corp | 856,138 | 1.2 | |||||||||||||
| 18,538 | Oracle Corp | 751,345 | 1.1 | |||||||||||||
| Other | 3,117,653 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 6,785,548 | 9.7 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 30,441 | Cisco Systems, Inc | 756,459 | 1.1 | |||||||||||||
| 17,556 | EMC Corp | 462,425 | 0.7 | |||||||||||||
| 15,800 | Hewlett-Packard Co | 532,144 | 0.8 | |||||||||||||
| 8,823 | Qualcomm, Inc | 698,782 | 1.0 | |||||||||||||
| Other | 652,041 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,101,851 | 4.5 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | ||||||||||||||||
| 14,675 | Verizon Communications, Inc | 718,048 | 1.1 | |||||||||||||
| Other | 710,868 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,428,916 | 2.1 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 5,255 | United Parcel Service, Inc (Class B) | 539,478 | 0.8 | |||||||||||||
| Other | 1,068,228 | 1.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 1,607,706 | 2.3 | |||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | ||||||||||||||||
| 4,575 | NextEra Energy, Inc | 468,846 | 0.7 | |||||||||||||
| Other | 1,952,879 | 2.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,421,725 | 3.5 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $47,284,055) | 69,146,293 | 99.2 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $47,284,055) | 69,146,293 | 99.2 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | 563,334 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 69,709,627 | 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 § 2014 Semiannual Report | 59 |
| Summary portfolio of investments (unaudited) |
Stock Index Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | $ | 3,616,888 | 1.2 | % | ||||||||||||
|
|
|
|||||||||||||||
| BANKS | ||||||||||||||||
| 141,339 | Bank of America Corp | 2,172,380 | 0.7 | |||||||||||||
| 40,878 | Citigroup, Inc | 1,925,354 | 0.7 | |||||||||||||
| 51,130 | JPMorgan Chase & Co | 2,946,111 | 1.0 | |||||||||||||
| 64,064 | Wells Fargo & Co | 3,367,204 | 1.1 | |||||||||||||
| Other | 6,876,104 | 2.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 17,287,153 | 5.8 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| 8,725 | 3M Co | 1,249,769 | 0.4 | |||||||||||||
| 9,842 | Boeing Co | 1,252,198 | 0.4 | |||||||||||||
| 134,520 | General Electric Co | 3,535,185 | 1.2 | |||||||||||||
| 12,298 | United Technologies Corp | 1,419,804 | 0.5 | |||||||||||||
| Other | 16,505,934 | 5.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 23,962,890 | 8.1 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 3,292,315 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | 4,463,781 | 1.5 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | ||||||||||||||||
| 13,328 | McDonald’s Corp | 1,342,663 | 0.4 | |||||||||||||
| Other | 5,007,192 | 1.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 6,349,855 | 2.1 | |||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 12,169 | American Express Co | 1,154,473 | 0.4 | |||||||||||||
| 23,450 | e | iShares Russell 3000 Index Fund | 2,761,003 | 0.9 | ||||||||||||
| Other | 9,240,632 | 3.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 13,156,108 | 4.4 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | ||||||||||||||||
| 25,537 | Chevron Corp | 3,333,855 | 1.1 | |||||||||||||
| 16,469 | ConocoPhillips | 1,411,887 | 0.5 | |||||||||||||
| 57,608 | Exxon Mobil Corp | 5,799,974 | 1.9 | |||||||||||||
| 10,539 | Occidental Petroleum Corp | 1,081,618 | 0.4 | |||||||||||||
| 17,446 | Schlumberger Ltd | 2,057,756 | 0.7 | |||||||||||||
| Other | 15,172,240 | 5.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 28,857,330 | 9.7 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING | ||||||||||||||||
| 15,857 | CVS Corp | 1,195,142 | 0.4 | |||||||||||||
| 21,450 | Wal-Mart Stores, Inc | 1,610,252 | 0.5 | |||||||||||||
| Other | 2,885,599 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,690,993 | 1.9 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||||
| 26,648 | Altria Group, Inc | 1,117,617 | 0.4 | |||||||||||||
| 52,706 | Coca-Cola Co | 2,232,626 | 0.8 | |||||||||||||
| 60 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Stock Index Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| FOOD, BEVERAGE & TOBACCO—continued | ||||||||||||||||
| 20,590 | PepsiCo, Inc | $ 1,839,511 | 0.6 | % | ||||||||||||
| 21,100 | Philip Morris International, Inc | 1,778,941 | 0.6 | |||||||||||||
| Other | 6,347,589 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 13,316,284 | 4.5 | |||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 13,316,424 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||||
| 36,480 | Procter & Gamble Co | 2,866,963 | 1.0 | |||||||||||||
| Other | 2,334,317 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 5,201,280 | 1.8 | |||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | ||||||||||||||||
| 19,829 | American International Group, Inc | 1,082,267 | 0.4 | |||||||||||||
| 24,411 | * | Berkshire Hathaway, Inc (Class B) | 3,089,456 | 1.0 | ||||||||||||
| Other | 7,838,992 | 2.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 12,010,715 | 4.0 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | 11,518,973 | 3.9 | ||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | ||||||||||||||||
| 34,849 | Comcast Corp (Class A) | 1,870,694 | 0.6 | |||||||||||||
| 23,261 | Walt Disney Co | 1,994,398 | 0.7 | |||||||||||||
| Other | 6,346,724 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 10,211,816 | 3.4 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||||
| 21,330 | AbbVie, Inc | 1,203,865 | 0.4 | |||||||||||||
| 10,172 | Amgen, Inc | 1,204,060 | 0.4 | |||||||||||||
| 20,645 | * | Gilead Sciences, Inc | 1,711,677 | 0.6 | ||||||||||||
| 37,874 | Johnson & Johnson | 3,962,378 | 1.3 | |||||||||||||
| 39,203 | Merck & Co, Inc | 2,267,894 | 0.8 | |||||||||||||
| 85,569 | Pfizer, Inc | 2,539,688 | 0.8 | |||||||||||||
| Other | 12,072,469 | 4.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 24,962,031 | 8.4 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | 10,934,664 | 3.7 | ||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | ||||||||||||||||
| 5,040 | * | Amazon.com, Inc | 1,636,892 | 0.6 | ||||||||||||
| 18,346 | Home Depot, Inc | 1,485,292 | 0.5 | |||||||||||||
| Other | 8,916,446 | 3.0 | ||||||||||||||
|
|
|
|||||||||||||||
| 12,038,630 | 4.1 | |||||||||||||||
|
|
|
|||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||||
| 67,043 | Intel Corp | 2,071,629 | 0.7 | |||||||||||||
| Other | 4,973,457 | 1.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 7,045,086 | 2.4 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| 26,429 | * | Facebook, Inc | 1,778,407 | 0.6 | ||||||||||||
| 3,810 | * | Google, Inc | 2,191,817 | 0.7 | ||||||||||||
| 3,765 | * | Google, Inc (Class A) | 2,201,283 | 0.7 | ||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 61 |
| Summary portfolio of investments (unaudited) | continued |
Stock Index Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| SOFTWARE SERVICES—continued | ||||||||||||||||
| 12,690 | International Business Machines Corp | $ | 2,300,316 | 0.8 | % | |||||||||||
| 111,141 | Microsoft Corp | 4,634,580 | 1.6 | |||||||||||||
| 44,061 | Oracle Corp | 1,785,792 | 0.6 | |||||||||||||
| 6,727 | Visa, Inc (Class A) | 1,417,446 | 0.5 | |||||||||||||
| Other | 13,327,797 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 29,637,438 | 10.0 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||||
| 80,886 | Apple, Inc | 7,516,736 | 2.5 | |||||||||||||
| 68,740 | Cisco Systems, Inc | 1,708,189 | 0.6 | |||||||||||||
| 22,872 | Qualcomm, Inc | 1,811,462 | 0.6 | |||||||||||||
| Other | 6,053,118 | 2.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 17,089,505 | 5.8 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | ||||||||||||||||
| 69,629 | AT&T, Inc | 2,462,081 | 0.9 | |||||||||||||
| 55,359 | Verizon Communications, Inc | 2,708,716 | 0.9 | |||||||||||||
| Other | 1,224,237 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 6,395,034 | 2.2 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | ||||||||||||||||
| 12,264 | Union Pacific Corp | 1,223,334 | 0.4 | |||||||||||||
| Other | 5,480,807 | 1.9 | ||||||||||||||
|
|
|
|||||||||||||||
| 6,704,141 | 2.3 | |||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | 9,355,937 | 3.2 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $176,069,478) | 296,415,271 | 100.0 | |||||||||||||
|
|
|
|||||||||||||||
| RIGHTS / WARRANTS | ||||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 177 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | 1,789 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL RIGHTS / WARRANTS | (Cost $1,796) | 1,966 | 0.0 | |||||||||||||
|
|
|
|||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 7,782,716 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | 7,782,716 | 2.6 | ||||||||||||
|
|
|
|||||||||||||||
| 7,782,716 | 2.6 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $7,782,716) | 7,782,716 | 2.6 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $183,853,990) | 304,199,953 | 102.6 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (7,821,549 | ) | (2.6 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 296,378,404 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| 62 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
Stock Index Fund § June 30, 2014
| * | 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 $7,604,628. |
“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 § 2014 Semiannual Report | 63 |
| Summary portfolio of investments (unaudited) |
International Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| COMMON STOCKS | ||||||||||||||||
| AUSTRALIA | ||||||||||||||||
| 24,075 | BHP Billiton Ltd | $ | 821,069 | 0.8 | % | |||||||||||
|
|
|
|||||||||||||||
| 821,069 | 0.8 | |||||||||||||||
|
|
|
|||||||||||||||
| BELGIUM | ||||||||||||||||
| 9,775 | Arseus NV | 559,466 | 0.6 | |||||||||||||
|
|
|
|||||||||||||||
| 559,466 | 0.6 | |||||||||||||||
|
|
|
|||||||||||||||
| FRANCE | ||||||||||||||||
| 90,211 | Accor S.A. | 4,688,762 | 4.8 | |||||||||||||
| 8,293 | Aeroports de Paris | 1,093,322 | 1.1 | |||||||||||||
| 12,803 | e | BNP Paribas | 870,076 | 0.9 | ||||||||||||
| 60,649 | e | Bouygues S.A. | 2,523,617 | 2.6 | ||||||||||||
| 57,230 | Compagnie de Saint-Gobain | 3,229,042 | 3.3 | |||||||||||||
| 34,082 | Essilor International S.A. | 3,611,872 | 3.7 | |||||||||||||
| 59,123 | Rexel S.A. | 1,382,748 | 1.4 | |||||||||||||
| 29,278 | Vinci S.A. | 2,188,788 | 2.3 | |||||||||||||
| Other | 619,865 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 20,208,092 | 20.7 | |||||||||||||||
|
|
|
|||||||||||||||
| GERMANY | ||||||||||||||||
| 16,300 | Bayer AG. | 2,299,492 | 2.4 | |||||||||||||
| 15,261 | Henkel KGaA (Preference) | 1,763,139 | 1.8 | |||||||||||||
| 28,358 | Lanxess AG. | 1,912,719 | 2.0 | |||||||||||||
| 12,924 | Linde AG. | 2,746,299 | 2.8 | |||||||||||||
|
|
|
|||||||||||||||
| 8,721,649 | 9.0 | |||||||||||||||
|
|
|
|||||||||||||||
| GREECE | ||||||||||||||||
| 62,691 | * | Hellenic Telecommunications Organization S.A. | 925,926 | 0.9 | ||||||||||||
| 613,147 | * | National Bank of Greece S.A. | 2,229,879 | 2.3 | ||||||||||||
| 1,173,786 | * | Piraeus Bank S.A. | 2,599,723 | 2.7 | ||||||||||||
|
|
|
|||||||||||||||
| 5,755,528 | 5.9 | |||||||||||||||
|
|
|
|||||||||||||||
| HONG KONG | 9,470 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| INDIA | ||||||||||||||||
| 13,811 | Eicher Motors Ltd | 1,834,516 | 1.9 | |||||||||||||
| 158,064 | HDFC Bank Ltd | 2,160,840 | 2.2 | |||||||||||||
| 102,990 | IndusInd Bank Ltd | 979,572 | 1.0 | |||||||||||||
| 100,026 | Larsen & Toubro Ltd | 2,832,530 | 2.9 | |||||||||||||
|
|
|
|||||||||||||||
| 7,807,458 | 8.0 | |||||||||||||||
|
|
|
|||||||||||||||
| INDONESIA | ||||||||||||||||
| 976,500 | PT Indofood Sukses Makmur Tbk | 552,395 | 0.6 | |||||||||||||
|
|
|
|||||||||||||||
| 552,395 | 0.6 | |||||||||||||||
|
|
|
|||||||||||||||
| ITALY | 256,920 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| JAPAN | ||||||||||||||||
| 25,000 | Daiwa House Industry Co Ltd | 518,265 | 0.5 | |||||||||||||
| 8,200 | Don Quijote Co Ltd | 457,489 | 0.5 | |||||||||||||
| 64 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
International Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| JAPAN—continued | ||||||||||||||||
| 36,700 | Hoya Corp | $ | 1,220,194 | 1.2 | % | |||||||||||
| 652,000 | * | Mazda Motor Corp | 3,059,783 | 3.1 | ||||||||||||
| 76,325 | * | Olympus Corp | 2,626,063 | 2.7 | ||||||||||||
| 10,550 | Softbank Corp | 786,217 | 0.8 | |||||||||||||
| 93,950 | e | Sony Corp | 1,569,952 | 1.6 | ||||||||||||
| 12,300 | Toyota Motor Corp | 736,433 | 0.8 | |||||||||||||
| Other | 2,315,100 | 2.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 13,289,496 | 13.6 | |||||||||||||||
|
|
|
|||||||||||||||
| MEXICO | ||||||||||||||||
| 175,000 | Qualitas Controladora SAB de C.V. | 505,030 | 0.5 | |||||||||||||
| Other | 60,794 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 565,824 | 0.6 | |||||||||||||||
|
|
|
|||||||||||||||
| NETHERLANDS | ||||||||||||||||
| 21,416 | Heineken NV | 1,537,220 | 1.6 | |||||||||||||
| 167,756 | * | ING Groep NV | 2,354,034 | 2.4 | ||||||||||||
| Other | 238,983 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 4,130,237 | 4.2 | |||||||||||||||
|
|
|
|||||||||||||||
| SINGAPORE | ||||||||||||||||
| 882,000 | e | Genting International plc | 941,687 | 1.0 | ||||||||||||
|
|
|
|||||||||||||||
| 941,687 | 1.0 | |||||||||||||||
|
|
|
|||||||||||||||
| SWEDEN | ||||||||||||||||
| 151,343 | e | SKF AB (B Shares) | 3,858,890 | 3.9 | ||||||||||||
| 174,819 | Volvo AB (B Shares) | 2,406,666 | 2.5 | |||||||||||||
|
|
|
|||||||||||||||
| 6,265,556 | 6.4 | |||||||||||||||
|
|
|
|||||||||||||||
| SWITZERLAND | ||||||||||||||||
| 39,466 | Adecco S.A. | 3,247,812 | 3.3 | |||||||||||||
| 2,752 | Burckhardt Compression Holding AG. | 1,481,812 | 1.5 | |||||||||||||
| 47,276 | Clariant AG. | 924,475 | 1.0 | |||||||||||||
| 21,125 | Holcim Ltd | 1,855,565 | 1.9 | |||||||||||||
| 16,761 | Swatch Group AG. (Registered) | 1,859,478 | 1.9 | |||||||||||||
| Other | 272,111 | 0.3 | ||||||||||||||
|
|
|
|||||||||||||||
| 9,641,253 | 9.9 | |||||||||||||||
|
|
|
|||||||||||||||
| UNITED KINGDOM | ||||||||||||||||
| 404,074 | British Sky Broadcasting plc | 6,251,451 | 6.4 | |||||||||||||
| 126,053 | Filtrona plc | 1,645,938 | 1.7 | |||||||||||||
| 173,218 | Group 4 Securicor plc | 756,238 | 0.8 | |||||||||||||
| 1,046,409 | Man Group plc | 1,883,243 | 1.9 | |||||||||||||
| 258,007 | * | Ocado Ltd | 1,638,521 | 1.7 | ||||||||||||
| 21,283 | Reckitt Benckiser Group plc | 1,855,775 | 1.9 | |||||||||||||
| 29,406 | Reed Elsevier plc | 472,551 | 0.5 | |||||||||||||
| 226,995 | Tate & Lyle plc | 2,655,829 | 2.7 | |||||||||||||
| Other | 715,112 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 17,874,658 | 18.4 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMON STOCKS | (Cost $90,492,993) | 97,400,758 | 100.0 | |||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 65 |
| Summary portfolio of investments (unaudited) | concluded |
International Equity Fund § June 30, 2014
| Shares | Company | Value | % of net assets |
|||||||||||||
| RIGHTS / WARRANTS | ||||||||||||||||
| GREECE | $ | 120,471 | 0.1 | % | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL RIGHTS / WARRANTS | (Cost $74,328) | 120,471 | 0.1 | |||||||||||||
|
|
|
|||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||
| 1,716,794 | c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust | 1,716,794 | 1.8 | ||||||||||||
|
|
|
|||||||||||||||
| 1,716,794 | 1.8 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $1,716,794) | 1,716,794 | 1.8 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $92,284,115) | 99,238,023 | 101.9 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (1,782,974 | ) | (1.9 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 97,455,049 | 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 $1,623,506. |
“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.
| 66 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary of market values by sector (unaudited) |
International Equity Fund § June 30, 2014
| Sector | Value | % of net assets |
||||||
| INDUSTRIALS | $ | 27,729,140 | 28.4 | % | ||||
| CONSUMER DISCRETIONARY | 23,168,881 | 23.8 | ||||||
| FINANCIALS | 15,277,751 | 15.7 | ||||||
| MATERIALS | 10,436,523 | 10.7 | ||||||
| HEALTH CARE | 9,096,893 | 9.3 | ||||||
| CONSUMER STAPLES | 8,407,799 | 8.6 | ||||||
| TELECOMMUNICATION SERVICES | 1,712,143 | 1.8 | ||||||
| INFORMATION TECHNOLOGY | 1,639,931 | 1.7 | ||||||
| ENERGY | 52,168 | 0.1 | ||||||
| SHORT-TERM INVESTMENTS | 1,716,794 | 1.8 | ||||||
| OTHER ASSETS & LIABILITES, NET | (1,782,974 | ) | (1.9 | ) | ||||
|
|
|
|||||||
| NET ASSETS |
$ | 97,455,049 | 100.0 | % | ||||
|
|
|
|||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 67 |
| Summary portfolio of investments (unaudited) |
Bond Fund § June 30, 2014
| Principal | Issuer | Value | % of net assets |
|||||||||||||
| BANK LOAN OBLIGATIONS | ||||||||||||||||
| CAPITAL GOODS | $ | 74,731 | 0.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 99,085 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | 248,876 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | 100,018 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 124,866 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | 304,706 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | 265,597 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | 85,425 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 165,457 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | 50,063 | 0.0 | ||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | 196,507 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | 153,741 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL BANK LOAN OBLIGATIONS | (Cost $1,867,977) | 1,869,072 | 0.9 | |||||||||||||
|
|
|
|||||||||||||||
| BONDS | ||||||||||||||||
| CORPORATE BONDS | ||||||||||||||||
| AUTOMOBILES & COMPONENTS | 476,653 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| BANKS | 9,478,952 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS | ||||||||||||||||
| $ 925,000 | John Deere Capital Corp | 1.950%, 03/04/19 | 925,415 | 0.5 | ||||||||||||
| Other | 1,623,013 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,548,428 | 1.3 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 1,081,641 | 0.5 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL | 441,087 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES | 628,605 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS | ||||||||||||||||
| 1,325,000 | American Express Credit Corp | 1.300%, 07/29/16 | 1,336,021 | 0.7 | ||||||||||||
| 1,275,000 | American Express Credit Corp | 2.125%, 07/27/18 | 1,295,474 | 0.6 | ||||||||||||
| 1,000,000 | Bank of America Corp | 2.600%, 01/15/19 | 1,011,763 | 0.5 | ||||||||||||
| Other | 9,469,395 | 4.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 13,112,653 | 6.3 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY | 7,174,244 | 3.4 | ||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING | 498,129 | 0.2 | ||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO | 1,960,719 | 0.9 | ||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 2,341,344 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| 68 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Bond Fund § June 30, 2014
| Principal | Issuer | Value | % of net assets |
|||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | $ | 127,093 | 0.1 | % | ||||||||||||
|
|
|
|||||||||||||||
| INSURANCE | 4,211,759 | 2.0 | ||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS | 4,314,958 | 2.0 | ||||||||||||||
|
|
|
|||||||||||||||
| MEDIA | 4,123,300 | 2.0 | ||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 2,387,209 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE | 2,373,176 | 1.1 | ||||||||||||||
|
|
|
|||||||||||||||
| RETAILING | 2,710,661 | 1.3 | ||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||||
| $1,170,000 | Fidelity National Information Services, Inc | 5.000%, 03/15/22 | 1,230,019 | 0.6 | ||||||||||||
| Other | 1,136,753 | 0.6 | ||||||||||||||
|
|
|
|||||||||||||||
| 2,366,772 | 1.2 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | 2,440,859 | 1.2 | ||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES | 7,103,233 | 3.4 | ||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION | 1,765,133 | 0.8 | ||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES | 7,851,222 | 3.7 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL CORPORATE BONDS | (Cost $78,977,549) | 81,517,830 | 39.0 | |||||||||||||
|
|
|
|||||||||||||||
| GOVERNMENT BONDS | ||||||||||||||||
| AGENCY SECURITIES | 179,964 | 0.1 | ||||||||||||||
|
|
|
|||||||||||||||
| FOREIGN GOVERNMENT BONDS | 5,483,082 | 2.5 | ||||||||||||||
|
|
|
|||||||||||||||
| MORTGAGE BACKED | ||||||||||||||||
| 1,783,618 | FGLMC | 4.000%–6.500%, 02/01/19–07/01/40 | 1,964,862 | 1.0 | ||||||||||||
| 1,103,312 | Federal National Mortgage Association (FNMA) | 2.500%, 10/01/27 | 1,122,300 | 0.5 | ||||||||||||
| 877,148 | FNMA | 3.000%, 03/01/28 | 912,562 | 0.4 | ||||||||||||
| 1,691,717 | FNMA | 5.500%, 07/01/40 | 1,896,095 | 0.9 | ||||||||||||
| 838,523 | FNMA | 6.000%, 10/01/40 | 946,164 | 0.4 | ||||||||||||
| 1,249,811 | FNMA | 5.000%, 11/01/40 | 1,388,792 | 0.7 | ||||||||||||
| 759,445 | FNMA | 4.000%, 12/01/40 | 807,847 | 0.4 | ||||||||||||
| 1,084,703 | FNMA | 3.000%, 04/01/42 | 1,072,824 | 0.5 | ||||||||||||
| 928,928 | FNMA | 4.000%, 05/01/42 | 991,320 | 0.5 | ||||||||||||
| 1,819,860 | FNMA | 3.500%, 06/01/42 | 1,876,247 | 0.9 | ||||||||||||
| 1,780,478 | FNMA | 3.000%, 12/01/42 | 1,765,331 | 0.8 | ||||||||||||
| 1,997,820 | FNMA | 3.500%, 01/01/43 | 2,059,722 | 1.0 | ||||||||||||
| 949,599 | FNMA | 3.500%, 07/01/43 | 979,022 | 0.5 | ||||||||||||
| 2,700,407 | FNMA | 4.000%, 11/01/43 | 2,871,061 | 1.4 | ||||||||||||
| 2,279,264 | FNMA | 4.500%, 03/01/44 | 2,478,281 | 1.2 | ||||||||||||
| 7,967,384 | h,i | FNMA | 2.379%–7.500%, 01/01/15–06/01/44 | 8,308,384 | 4.0 | |||||||||||
| 900,501 | Government National Mortgage Association (GNMA) | 3.000%, 09/15/42 | 909,061 | 0.4 | ||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 69 |
| Summary portfolio of investments (unaudited) | continued |
Bond Fund § June 30, 2014
| Principal | Issuer | Value | % of net assets |
|||||||||||||
| MORTGAGE BACKED—continued | ||||||||||||||||
| $1,805,745 | GNMA | 3.500%, 11/15/42 | $ | 1,881,631 | 0.9 | % | ||||||||||
| 941,142 | GNMA | 3.000%, 02/20/43 | 952,153 | 0.4 | ||||||||||||
| 1,641,070 | GNMA | 4.500%, 06/20/44 | 1,795,085 | 0.9 | ||||||||||||
| 2,906,993 | GNMA | 3.500%–6.000%, 07/15/33–12/20/41 | 3,158,318 | 1.5 | ||||||||||||
| Other | 1,143,691 | 0.5 | ||||||||||||||
|
|
|
|||||||||||||||
| 41,280,753 | 19.7 | |||||||||||||||
|
|
|
|||||||||||||||
| MUNICIPAL BONDS | 2,067,099 | 1.0 | ||||||||||||||
|
|
|
|||||||||||||||
| U.S. TREASURY SECURITIES | ||||||||||||||||
| 1,000,000 | United States Treasury Note | 0.250%, 09/30/14 | 1,000,469 | 0.5 | ||||||||||||
| 4,900,000 | United States Treasury Note | 0.250%, 02/28/15 | 4,905,170 | 2.3 | ||||||||||||
| 2,115,000 | United States Treasury Note | 0.250%, 05/31/15 | 2,117,644 | 1.0 | ||||||||||||
| 7,464,000 | United States Treasury Note | 0.375%, 11/15/15 | 7,480,913 | 3.6 | ||||||||||||
| 8,092,500 | United States Treasury Note | 1.625%, 06/30/19 | 8,092,500 | 3.9 | ||||||||||||
| 1,000,000 | United States Treasury Note | 2.375%, 12/31/20 | 1,021,562 | 0.5 | ||||||||||||
| 1,325,000 | United States Treasury Note | 2.000%, 02/28/21 | 1,319,618 | 0.6 | ||||||||||||
| 1,000,000 | United States Treasury Note | 2.250%, 03/31/21 | 1,010,781 | 0.5 | ||||||||||||
| 2,784,000 | United States Treasury Note | 2.750%, 02/15/24 | 2,847,292 | 1.4 | ||||||||||||
| 1,032,000 | United States Treasury Note | 2.500%, 05/15/24 | 1,030,549 | 0.5 | ||||||||||||
| 2,204,000 | United States Treasury Note | 0.125%–0.875%, 12/31/14–01/31/18 | 2,199,760 | 1.0 | ||||||||||||
| Other | 1,484,215 | 0.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 34,510,473 | 16.5 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL GOVERNMENT BONDS | (Cost $82,857,085) | 83,521,371 | 39.8 | |||||||||||||
|
|
|
|||||||||||||||
| STRUCTURED ASSETS | ||||||||||||||||
| ASSET BACKED | ||||||||||||||||
| 1,000,000 | AmeriCredit Automobile Receivables Trust | 0.540%, 10/10/17 | 1,000,035 | 0.5 | ||||||||||||
| Series 2014-2 (Class A2A) | ||||||||||||||||
| 1,500,000 | AmeriCredit Automobile Receivables Trust | 1.930%, 08/08/18 | 1,524,329 | 0.7 | ||||||||||||
| Series 2012-4 (Class C) | ||||||||||||||||
| 1,449,375 | Dominos Pizza Master Issuer LLC | 5.216%, 01/25/42 | 1,557,530 | 0.7 | ||||||||||||
| Series 2012-1A (Class A2) | ||||||||||||||||
| 1,500,000 | Ford Credit Floorplan Master Owner Trust A | 1.740%, 06/15/17 | 1,509,102 | 0.7 | ||||||||||||
| Series 2013-3 (Class D) | ||||||||||||||||
| 1,000,000 | GE Capital Credit Card Master Note Trust | 7.820%, 11/15/17 | 1,026,763 | 0.5 | ||||||||||||
| Series 2009-4 (Class C) | ||||||||||||||||
| 1,000,000 | GE Capital Credit Card Master Note Trust | 5.750%, 03/15/18 | 1,032,575 | 0.5 | ||||||||||||
| Series 2010-1 (Class C) | ||||||||||||||||
| 2,000,000 | Santander Drive Auto Receivables Trust 2014-3 | 0.540%, 08/15/17 | 2,000,022 | 1.0 | ||||||||||||
| Series 2014-3 (Class A2A) | ||||||||||||||||
| 1,000,000 | World Financial Network Credit Card Master Trust | 2.150%, 04/17/23 | 994,329 | 0.5 | ||||||||||||
| Series 2012-D (Class A) | ||||||||||||||||
| Other | 7,810,072 | 3.7 | ||||||||||||||
|
|
|
|||||||||||||||
| 18,454,757 | 8.8 | |||||||||||||||
|
|
|
|||||||||||||||
| 70 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
Bond Fund § June 30, 2014
| Principal | Issuer | Value | % of net assets |
|||||||||||||||
| OTHER MORTGAGE BACKED | ||||||||||||||||||
| $2,000,000 | Banc of America Commercial Mortgage Trust 2006-2 | 5.954%, 05/10/45 | $ | 2,132,884 | 1.0 | % | ||||||||||||
| Series 2006-2 (Class AJ) | ||||||||||||||||||
| 1,175,000 | COBALT CMBS Commercial Mortgage Trust | 5.771%, 05/15/46 | 1,295,332 | 0.6 | ||||||||||||||
| Series 2007-C3 (Class AM) | ||||||||||||||||||
| 1,250,000 | COBALT CMBS Commercial Mortgage Trust | 5.771%, 05/15/46 | 1,285,106 | 0.6 | ||||||||||||||
| Series 2007-C3 (Class AJ) | ||||||||||||||||||
| 1,000,000 | LB-UBS Commercial Mortgage Trust | 6.114%, 07/15/40 | 1,111,379 | 0.6 | ||||||||||||||
| Series 2007-C6 (Class AM) | ||||||||||||||||||
| 1,000,000 | Morgan Stanley Capital I Trust | 5.389%, 11/12/41 | 1,039,279 | 0.5 | ||||||||||||||
| Series 2006-HQ10 (Class AJ) | ||||||||||||||||||
| 1,250,000 | Wachovia Bank Commercial Mortgage Trust | 5.383%, 12/15/43 | 1,359,765 | 0.7 | ||||||||||||||
| Series 2007-C30 (Class AM) | ||||||||||||||||||
| 980,000 | Wachovia Bank Commercial Mortgage Trust | 5.818%, 05/15/46 | 1,086,191 | 0.5 | ||||||||||||||
| Series 2007-C34 (Class AM) | ||||||||||||||||||
| 1,200,000 | Wachovia Bank Commercial Mortgage Trust | 6.163%, 05/15/46 | 1,261,990 | 0.6 | ||||||||||||||
| Series 2007-C34 (Class AJ) | ||||||||||||||||||
| 2,150,000 | Wachovia Bank Commercial Mortgage Trust | 5.591%, 04/15/47 | 2,355,035 | 1.1 | ||||||||||||||
| Series 2007-C31 (Class AM) | ||||||||||||||||||
| Other | 4,630,398 | 2.2 | ||||||||||||||||
|
|
|
|||||||||||||||||
| 17,557,359 | 8.4 | |||||||||||||||||
|
|
|
|||||||||||||||||
| TOTAL STRUCTURED ASSETS | (Cost $35,660,016) | 36,012,116 | 17.2 | |||||||||||||||
|
|
|
|||||||||||||||||
| TOTAL BONDS | (Cost $197,494,650) | 201,051,317 | 96.0 | |||||||||||||||
|
|
|
|||||||||||||||||
| Shares |
|
Company |
||||||||||||||||
| PREFERRED STOCKS | ||||||||||||||||||
| BANKS | 238,883 | 0.1 | ||||||||||||||||
|
|
|
|||||||||||||||||
| TOTAL PREFERRED STOCKS | (Cost $569,550) | 238,883 | 0.1 | |||||||||||||||
|
|
|
|||||||||||||||||
| Principal |
|
Issuer |
||||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||||
| GOVERNMENT AGENCY DEBT | 749,960 | 0.4 | ||||||||||||||||
|
|
|
|||||||||||||||||
| 749,960 | 0.4 | |||||||||||||||||
|
|
|
|||||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $749,960) | 749,960 | 0.4 | |||||||||||||||
|
|
|
|||||||||||||||||
| TOTAL PORTFOLIO | (Cost $200,682,137) | 203,909,232 | 97.4 | |||||||||||||||
| OTHER ASSETS & LIABILITIES, NET | 5,507,864 | 2.6 | ||||||||||||||||
|
|
|
|||||||||||||||||
| NET ASSETS | $ | 209,417,096 | 100.0 | % | ||||||||||||||
|
|
|
|||||||||||||||||
| h | All or a portion of these securities were purchased on a delayed delivery basis. |
| i | Floating or variable rate security. Coupon rate reflects the rate at period end. |
At 6/30/14, the aggregate value of securities exempted from registration under Rule 144(A) of the Securities Act of 1933 amounted to $29,496,383 or 14.1% of net assets. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers.
“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 § 2014 Semiannual Report | 71 |
| Summary portfolio of investments (unaudited) |
Money Market Fund § June 30, 2014
| Principal | Issuer | Value | % net assets |
|||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||
| CERTIFICATE OF DEPOSIT | ||||||||||||||||
| $ 1,000,000 | Banco Del Estado de Chile | 0.190%–0.210%, 08/25/14–09/22/14 | $ | 1,000,000 | 1.3 | % | ||||||||||
| 1,000,000 | Bank of Montreal | 0.170%, 08/26/14–09/05/14 | 1,000,000 | 1.4 | ||||||||||||
| 800,000 | Toronto-Dominion Bank | 0.110%, 08/12/14 | 800,000 | 1.2 | ||||||||||||
| 870,000 | Toronto-Dominion Bank | 0.150%, 08/08/14–09/02/14 | 870,000 | 1.2 | ||||||||||||
|
|
|
|||||||||||||||
| 3,670,000 | 5.1 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL PAPER | ||||||||||||||||
| 675,000 | y | Australia & New Zealand Banking Group Ltd | 0.165%, 09/15/14 | 674,765 | 0.9 | |||||||||||
| 1,300,000 | y | Australia & New Zealand Banking Group Ltd | 0.145%–0.167%, 07/11/14–09/16/14 | 1,299,775 | 1.8 | |||||||||||
| 600,000 | Bank of Tokyo-Mitsubishi UFJ Ltd | 0.160%, 08/19/14 | 599,869 | 0.8 | ||||||||||||
| 800,000 | Bank of Tokyo-Mitsubishi UFJ Ltd | 0.110%–0.120%, 07/03/14–07/16/14 | 799,982 | 1.1 | ||||||||||||
| 615,000 | y | Coca-Cola Co | 0.120%, 08/21/14 | 614,895 | 0.8 | |||||||||||
| 750,000 | y | Coca-Cola Co | 0.120%, 10/03/14 | 749,765 | 1.0 | |||||||||||
| 1,200,000 | y | Commonwealth Bank of Australia | 0.150%–0.160%, 07/07/14 | 1,199,969 | 1.7 | |||||||||||
| 900,000 | y | DBS Bank Ltd | 0.150%–0.180%, 07/25/14 | 899,898 | 1.2 | |||||||||||
| 550,000 | y | DBS Bank Ltd | 0.190%, 07/28/14 | 549,922 | 0.8 | |||||||||||
| 775,000 | y | Fairway Finance LLC | 0.140%–0.180%, 08/05/14–08/18/14 | 774,853 | 1.1 | |||||||||||
| 1,200,000 | General Electric Capital Corp | 0.070%, 07/23/14 | 1,199,949 | 1.6 | ||||||||||||
| 750,000 | General Electric Capital Corp | 0.120%–0.150%, 08/15/14–09/26/14 | 749,834 | 1.0 | ||||||||||||
| 1,000,000 | y | International Business Machines Corp | 0.095%, 08/01/14 | 999,918 | 1.4 | |||||||||||
| 700,000 | y | International Business Machines Corp | 0.100%, 09/04/14 | 699,874 | 1.0 | |||||||||||
| 827,000 | JPMorgan Chase Bank NA | 0.160%–0.210%, 07/18/14–10/20/14 | 826,767 | 1.1 | ||||||||||||
| 555,000 | y | Microsoft Corp | 0.090%, 08/06/14 | 554,950 | 0.8 | |||||||||||
| 1,300,000 | y | Microsoft Corp | 0.090%–0.100%, 08/13/14 | 1,299,857 | 1.8 | |||||||||||
| 605,000 | y | National Australia Funding Delaware, Inc | 0.125%, 10/01/14 | 604,807 | 0.8 | |||||||||||
| 1,000,000 | y | Nestle Capital Corp | 0.095%–0.130%, 08/06/14–09/10/14 | 999,841 | 1.4 | |||||||||||
| 1,674,000 | y | Old Line Funding LLC | 0.170%, 08/06/14–10/08/14 | 1,673,391 | 2.3 | |||||||||||
| 845,000 | PACCAR Financial Corp | 0.100%, 08/11/14 | 844,904 | 1.2 | ||||||||||||
| 1,310,000 | y | Private Export Funding Corp | 0.120%–0.150%, 07/14/14–09/09/14 | 1,309,811 | 1.8 | |||||||||||
| 1,000,000 | y | Procter & Gamble Co | 0.080%, 08/11/14 | 999,909 | 1.4 | |||||||||||
| 755,000 | y | Procter & Gamble Co | 0.100%–0.120%, 09/10/14–09/12/14 | 754,839 | 1.0 | |||||||||||
| 1,000,000 | Province of Ontario Canada | 0.100%, 07/21/14 | 999,944 | 1.4 | ||||||||||||
| 870,000 | Province of Ontario Canada | 0.105%–0.110%, 07/14/14–07/31/14 | 869,943 | 1.2 | ||||||||||||
| 800,000 | y | Province of Quebec Canada | 0.085%, 08/12/14 | 799,921 | 1.1 | |||||||||||
| 1,700,000 | y | PSP Capital, Inc | 0.135%–0.150%, 07/07/14–09/16/14 | 1,699,808 | 2.3 | |||||||||||
| 1,000,000 | Toyota Motor Credit Corp | 0.100%, 09/08/14 | 999,808 | 1.4 | ||||||||||||
| 1,875,000 | y | United Overseas Bank Ltd | 0.140%–0.250%, 07/14/14–10/10/14 | 1,874,511 | 2.6 | |||||||||||
| Other | 3,809,250 | 5.1 | ||||||||||||||
|
|
|
|||||||||||||||
| 32,735,529 | 44.9 | |||||||||||||||
|
|
|
|||||||||||||||
| GOVERNMENT AGENCY DEBT | ||||||||||||||||
| 1,400,000 | Federal Home Loan Bank (FHLB) | 0.045%–0.060%, 07/02/14 | 1,399,998 | 1.9 | ||||||||||||
| 775,000 | FHLB | 0.050%, 07/07/14 | 774,994 | 1.1 | ||||||||||||
| 1,217,000 | FHLB | 0.060%–0.065%, 07/09/14 | 1,216,984 | 1.7 | ||||||||||||
| 529,000 | FHLB | 0.050%, 07/11/14 | 528,993 | 0.7 | ||||||||||||
| 1,550,000 | FHLB | 0.050%–0.110%, 07/18/14 | 1,549,935 | 2.1 | ||||||||||||
| 72 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
Money Market Fund § June 30, 2014
| Principal |
Issuer | Value | % net assets |
|||||||||||||
| GOVERNMENT AGENCY DEBT—continued | ||||||||||||||||
| $ 720,000 | FHLB | 0.050%, 07/25/14 | $ | 719,976 | 1.0 | % | ||||||||||
| 1,430,000 | FHLB | 0.058%–0.080%, 08/20/14 | 1,429,859 | 2.0 | ||||||||||||
| 1,175,000 | FHLB | 0.062%–0.070%, 08/22/14 | 1,174,883 | 1.7 | ||||||||||||
| 600,000 | FHLB | 0.065%, 08/27/14 | 599,938 | 0.8 | ||||||||||||
| 1,000,000 | FHLB | 0.076%, 09/24/14 | 999,821 | 1.4 | ||||||||||||
| 635,000 | FHLB | 0.075%–0.080%, 09/19/14 | 634,892 | 0.9 | ||||||||||||
| 2,882,000 | FHLB | 0.055%–0.110%, 07/16/14–09/12/14 | 2,881,755 | 4.0 | ||||||||||||
| 1,205,000 | Federal Home Loan Mortgage Corp (FHLMC) | 0.055%–0.080%, 07/01/14 | 1,205,000 | 1.6 | ||||||||||||
| 1,142,000 | FHLMC | 0.075%–0.085%, 09/12/14 | 1,141,812 | 1.6 | ||||||||||||
| 625,000 | Federal National Mortgage Association (FNMA) | 0.050%, 07/28/14 | 624,977 | 0.9 | ||||||||||||
| 650,000 | FNMA | 0.065%, 08/25/14 | 649,935 | 0.9 | ||||||||||||
| 600,000 | FNMA | 0.055%, 07/29/14 | 599,974 | 0.8 | ||||||||||||
| 665,000 | FNMA | 0.060%–0.090%, 09/03/14 | 664,919 | 0.9 | ||||||||||||
| 2,773,000 | FNMA | 0.045%–0.100%, 07/09/14–10/01/14 | 2,772,773 | 3.8 | ||||||||||||
| Other | 380,946 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 21,952,364 | 30.2 | |||||||||||||||
|
|
|
|||||||||||||||
| TREASURY DEBT | ||||||||||||||||
| 1,000,000 | United States Treasury Bill | 0.031%, 07/10/14 | 999,992 | 1.4 | ||||||||||||
| 675,000 | United States Treasury Bill | 0.026%–0.077%, 07/24/14 | 674,982 | 0.9 | ||||||||||||
| 600,000 | United States Treasury Bill | 0.025%, 08/14/14 | 599,982 | 0.8 | ||||||||||||
| 900,000 | United States Treasury Bill | 0.089%–0.095%, 08/21/14 | 899,883 | 1.2 | ||||||||||||
| 530,000 | United States Treasury Bill | 0.025%–0.091%, 09/18/14 | 529,941 | 0.7 | ||||||||||||
| 1,000,000 | United States Treasury Bill | 0.021%, 09/25/14 | 999,950 | 1.4 | ||||||||||||
| 550,000 | United States Treasury Bill | 0.035%, 10/09/14 | 549,946 | 0.8 | ||||||||||||
| 1,565,000 | United States Treasury Bill | 0.025%–0.043%, 08/07/14–11/13/14 | 1,564,902 | 2.2 | ||||||||||||
| 660,000 | United States Treasury Note | 0.625%, 07/15/14 | 660,127 | 0.9 | ||||||||||||
| 500,000 | United States Treasury Note | 0.250%, 09/30/14 | 500,236 | 0.7 | ||||||||||||
| 500,000 | United States Treasury Note | 0.500%, 10/15/14 | 500,643 | 0.7 | ||||||||||||
| 540,000 | United States Treasury Note | 0.250%, 01/15/15 | 540,328 | 0.7 | ||||||||||||
| 550,000 | United States Treasury Note | 0.375%, 06/15/15 | 551,320 | 0.8 | ||||||||||||
| 2,344,000 | United States Treasury Note | 0.125%–0.500%, 07/31/14–04/30/15 | 2,344,859 | 3.2 | ||||||||||||
|
|
|
|||||||||||||||
| 11,917,091 | 16.4 | |||||||||||||||
|
|
|
|||||||||||||||
| VARIABLE RATE SECURITIES | ||||||||||||||||
| 1,900,000 | i | FFCB | 0.140%–0.180%, 07/01/14 | 1,899,637 | 2.6 | |||||||||||
| 500,000 | i | Federal Home Loan Bank (FHLB) | 0.220%, 07/01/14 | 500,199 | 0.7 | |||||||||||
| Other | 1,000,139 | 1.4 | ||||||||||||||
|
|
|
|||||||||||||||
| 3,399,975 | 4.7 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $73,674,959) | 73,674,959 | 101.3 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $73,674,959) | 73,674,959 | 101.3 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (946,162 | ) | (1.3 | ) | ||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 72,728,797 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 73 |
| Summary portfolio of investments (unaudited) | concluded |
Money Market Fund § June 30, 2014
| 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 sold in transactions exempt from registration only to dealers in that program or other “accredited investors.” At 6/30/2014, the aggregate value of these securities including those in “Other,” was $23,944,738 or 32.9% 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.
| 74 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Portfolio of investments (unaudited) |
Balanced Fund § June 30, 2014
| Shares | Security | Value | % of net assets |
|||||||||||||
| TIAA-CREF LIFE FUNDS - 99.6% (a) | ||||||||||||||||
| FIXED INCOME - 49.2% | ||||||||||||||||
| 352,416 | TIAA-CREF Life Bond Fund | $ | 9,148,716 | 49.2 | % | |||||||||||
|
|
|
|||||||||||||||
| TOTAL FIXED INCOME | 9,148,716 | 49.2 | ||||||||||||||
|
|
|
|||||||||||||||
| INTERNATIONAL EQUITY - 9.9% | ||||||||||||||||
| 88,933 | TIAA-CREF Life International Equity Fund | 1,843,575 | 9.9 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL INTERNATIONAL EQUITY | 1,843,575 | 9.9 | ||||||||||||||
|
|
|
|||||||||||||||
| U.S. EQUITY - 40.5% | ||||||||||||||||
| 62,754 | TIAA-CREF Life Growth Equity Fund | 1,708,160 | 9.2 | |||||||||||||
| 47,740 | TIAA-CREF Life Growth & Income Fund | 1,884,769 | 10.2 | |||||||||||||
| 42,881 | TIAA-CREF Life Large-Cap Value Fund | 1,664,629 | 9.0 | |||||||||||||
| 11,082 | TIAA-CREF Life Real Estate Securities Fund | 375,887 | 2.0 | |||||||||||||
| 9,986 | TIAA-CREF Life Small-Cap Equity Fund | 377,657 | 2.0 | |||||||||||||
| 34,093 | TIAA-CREF Life Stock Index Fund | 1,502,475 | 8.1 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL U.S. EQUITY | 7,513,577 | 40.5 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL TIAA-CREF LIFE FUNDS | (Cost $17,739,409) | 18,505,868 | 99.6 | |||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO | (Cost $17,739,409) | 18,505,868 | 99.6 | |||||||||||||
| OTHER ASSETS & LIABILITIES, NET | 80,553 | 0.4 | ||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS | $ | 18,586,421 | 100.0 | % | ||||||||||||
|
|
|
|||||||||||||||
| (a) | The Fund invests its assets in the affiliated TIAA-CREF Life Funds. |
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 75 |
| Statements of assets and liabilities (unaudited) |
TIAA-CREF Life Funds § June 30, 2014
| Growth Equity Fund |
||||||
|
| ||||||
| ASSETS |
||||||
| Portfolio investments, at value*† |
$ | 63,585,825 | ||||
| Cash |
194,305 | |||||
|
Cash—foreign‡ |
6,961 | |||||
| Receivable from securities transactions |
693,178 | |||||
| Receivable from Fund shares sold |
942 | |||||
| Dividends and interest receivable |
13,320 | |||||
| Due from affiliates |
835 | |||||
| Other |
3,818 | |||||
|
| ||||||
| Total assets |
64,499,184 | |||||
|
| ||||||
| LIABILITIES |
||||||
| Management fees payable |
4,656 | |||||
| Due to affiliates |
572 | |||||
| Payable for collateral for securities loaned |
526,709 | |||||
| Payable for securities transactions |
814,283 | |||||
| Payable for Fund shares redeemed |
82,337 | |||||
| Written options^ |
1,041 | |||||
| Accrued expenses and other payables |
28,766 | |||||
|
| ||||||
| Total liabilities |
1,458,364 | |||||
|
| ||||||
| NET ASSETS |
$ | 63,040,820 | ||||
|
| ||||||
| NET ASSETS CONSIST OF: |
||||||
| Paid-in-capital |
$ | 45,352,011 | ||||
| Undistributed net investment income (loss) |
150,215 | |||||
| Accumulated net realized gain (loss) on total investments |
4,235,429 | |||||
| Net unrealized appreciation (depreciation) on total investments |
13,303,165 | |||||
|
| ||||||
| NET ASSETS |
$ | 63,040,820 | ||||
|
| ||||||
| Outstanding shares of beneficial interest, |
2,315,932 | |||||
|
| ||||||
| Net asset value per share |
$27.22 | |||||
|
| ||||||
| * Includes securities loaned of |
$ | 518,118 | ||||
|
† Portfolio investments, cost |
$ | 50,283,317 | ||||
|
‡ Foreign cash, cost |
$ | 6,899 | ||||
| ^ Written options premiums |
$ | 1,639 | ||||
| 76 | 2014 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 |
|||||||||||||
|
|
||||||||||||||||
| $ | 143,571,290 | $ | 112,725,786 | $ | 111,550,537 | $ | 57,195,021 | |||||||||
| 958,080 | 113,800 | 1,305,774 | 85,293 | |||||||||||||
| — | — | — | — | |||||||||||||
| 819,820 | 1,455,343 | 308,529 | 853,601 | |||||||||||||
| 85,569 | 1,082 | 52,852 | 7,732 | |||||||||||||
| 118,708 | 180,006 | 378,911 | 58,813 | |||||||||||||
| 827 | 724 | 312 | 396 | |||||||||||||
| 5,927 | 5,091 | 5,567 | 4,223 | |||||||||||||
|
|
||||||||||||||||
| 145,560,221 | 114,481,832 | 113,602,482 | 58,205,079 | |||||||||||||
|
|
||||||||||||||||
| 10,356 | 8,025 | 9,327 | 3,980 | |||||||||||||
| 1,155 | 964 | 983 | 518 | |||||||||||||
| 4,027,268 | 4,536,739 | — | 4,255,302 | |||||||||||||
| 926,656 | 1,585,579 | 91,798 | 891,745 | |||||||||||||
| 178,211 | 32,007 | 26,857 | 19,705 | |||||||||||||
| 3,318 | 1,005 | — | — | |||||||||||||
| 34,719 | 31,866 | 34,785 | 27,235 | |||||||||||||
|
|
||||||||||||||||
| 5,181,683 | 6,196,185 | 163,750 | 5,198,485 | |||||||||||||
|
|
||||||||||||||||
| $ | 140,378,538 | $ | 108,285,647 | $ | 113,438,732 | $ | 53,006,594 | |||||||||
|
|
||||||||||||||||
| $ | 99,301,204 | $ | 85,111,401 | $ | 93,751,990 | $ | 38,914,216 | |||||||||
| 677,603 | 1,104,944 | 1,419,500 | 212,706 | |||||||||||||
| 7,046,283 | 5,099,642 | 163,538 | 5,721,889 | |||||||||||||
| 33,353,448 | 16,969,660 | 18,103,704 | 8,157,783 | |||||||||||||
|
|
||||||||||||||||
| $ | 140,378,538 | $ | 108,285,647 | $ | 113,438,732 | $ | 53,006,594 | |||||||||
|
|
||||||||||||||||
|
|
3,556,119 |
|
2,789,661 | 3,344,225 | 1,401,704 | |||||||||||
|
|
||||||||||||||||
| $39.48 | $38.82 | $33.92 | $37.82 | |||||||||||||
|
|
||||||||||||||||
| $ | 3,939,526 | $ | 4,421,528 | $ | — | $ | 4,159,034 | |||||||||
| $ | 110,218,041 | $ | 95,756,606 | $ | 93,446,833 | $ | 49,037,238 | |||||||||
| $ | — | $ | – | $ | — | $ | — | |||||||||
| $ | 3,065 | $ | 992 | $ | — | $ | — | |||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 77 |
| Statements of assets and liabilities (unaudited) |
TIAA-CREF Life Funds § June 30, 2014
| Social Choice Equity Fund |
||||||
|
| ||||||
| ASSETS |
||||||
| Portfolio investments, at value*† |
$ | 69,146,293 | ||||
| Affiliated Investments, at value¥ |
— | |||||
| Cash |
595,481 | |||||
| Cash—foreign‡ |
— | |||||
| Receivable from securities transactions |
— | |||||
| Receivable for delayed delivery securities |
— | |||||
| Receivable from Fund shares sold |
1,640 | |||||
| Dividends and interest receivable |
67,156 | |||||
| Due from affiliates |
486 | |||||
| Other |
3,762 | |||||
|
| ||||||
| Total assets |
69,814,818 | |||||
|
| ||||||
| LIABILITIES |
||||||
| Management fees payable |
1,715 | |||||
| Due to affiliates |
607 | |||||
| Payable for collateral for securities loaned |
— | |||||
| Payable for securities transactions |
— | |||||
| Payable for delayed delivery securities |
— | |||||
| Payable for Fund shares redeemed |
78,152 | |||||
| Accrued expenses and other payables |
24,717 | |||||
|
| ||||||
| Total liabilities |
105,191 | |||||
|
| ||||||
| NET ASSETS |
$ | 69,709,627 | ||||
|
| ||||||
| NET ASSETS CONSIST OF: |
||||||
| Paid-in-capital |
$ | 45,503,149 | ||||
| Undistributed net investment income (loss) |
761,959 | |||||
| Accumulated net realized gain (loss) on total investments |
1,582,281 | |||||
| Net unrealized appreciation (depreciation) on total investments |
21,862,238 | |||||
|
| ||||||
| NET ASSETS |
$ | 69,709,627 | ||||
|
| ||||||
| Outstanding shares of beneficial interest, |
1,789,025 | |||||
|
| ||||||
| Net asset value per share |
$38.97 | |||||
|
| ||||||
| * Includes securities loaned of |
$ | — | ||||
|
† Portfolio investments, cost |
$ | 47,284,055 | ||||
| ¥ Affiliated investments, cost |
$ | — | ||||
| ‡ Foreign cash, cost |
$ | — | ||||
| 78 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| concluded |
| Stock Index Fund |
International Equity Fund |
Bond Fund |
Money Market Fund |
Balanced Fund |
||||||||||||||||||
|
|
||||||||||||||||||||||
| $ | 304,199,953 | $ | 99,238,023 | $ | 203,909,232 | $ | 73,674,959 | $ | — | |||||||||||||
| — | — | — | — | 18,505,868 | ||||||||||||||||||
| 61,955 | 299,153 | 4,808,618 | 597 | 23,992 | ||||||||||||||||||
| — | 39,615 | — | — | — | ||||||||||||||||||
| 7,269,371 | 277,577 | 1,616,053 | — | — | ||||||||||||||||||
| — | — | 3,368,718 | — | — | ||||||||||||||||||
| 110,757 | 11,464 | 59,275 | 135,507 | 65,303 | ||||||||||||||||||
| 337,746 | 249,553 | 1,195,291 | 6,232 | — | ||||||||||||||||||
| 1,227 | 1,186 | 1,575 | 1,450 | 1,342 | ||||||||||||||||||
| 11,217 | 6,197 | 7,587 | 2,912 | 48 | ||||||||||||||||||
|
|
||||||||||||||||||||||
| 311,992,226 | 100,122,768 | 214,966,349 | 73,821,657 | 18,596,553 | ||||||||||||||||||
|
|
||||||||||||||||||||||
| 2,939 | 8,043 | 10,308 | 1,187 | 304 | ||||||||||||||||||
| 2,650 | 955 | 1,836 | 660 | 83 | ||||||||||||||||||
| 7,782,716 | 1,716,794 | — | — | — | ||||||||||||||||||
| 7,412,884 | 539,531 | 860,610 | — | 8,250 | ||||||||||||||||||
| — | — | 4,618,892 | — | — | ||||||||||||||||||
| 357,782 | 52,649 | 1,642 | 1,063,830 | — | ||||||||||||||||||
| 54,851 | 349,747 | 55,965 | 27,183 | 1,495 | ||||||||||||||||||
|
|
||||||||||||||||||||||
| 15,613,822 | 2,667,719 | 5,549,253 | 1,092,860 | 10,132 | ||||||||||||||||||
|
|
||||||||||||||||||||||
| $ | 296,378,404 | $ | 97,455,049 | $ | 209,417,096 | $ | 72,728,797 | $ | 18,586,421 | |||||||||||||
|
|
||||||||||||||||||||||
| $ | 179,157,430 | $ | 116,607,724 | $ | 202,613,016 | $ | 72,729,798 | $ | 17,817,888 | |||||||||||||
| 3,090,688 | 2,423,771 | 2,355,449 | (1,130 | ) | (5,670 | ) | ||||||||||||||||
| (6,215,678 | ) | (28,227,634 | ) | 1,221,557 | 129 | 7,744 | ||||||||||||||||
| 120,345,964 | 6,651,188 | 3,227,074 | — | 766,459 | ||||||||||||||||||
|
|
||||||||||||||||||||||
| $ | 296,378,404 | $ | 97,455,049 | $ | 209,417,096 | $ | 72,728,797 | $ | 18,586,421 | |||||||||||||
|
|
||||||||||||||||||||||
| 6,725,084 |
|
4,700,213 |
|
8,067,969 | 72,726,514 | 1,762,050 | ||||||||||||||||
|
|
||||||||||||||||||||||
| $44.07 | $ | 20.73 | $ | 25.96 | $ | 1.00 | $ | 10.55 | ||||||||||||||
|
|
||||||||||||||||||||||
| $ | 7,604,628 | $ | 1,623,506 | $ | — | $ | — | $ | — | |||||||||||||
| $ | 183,853,990 | $ | 92,284,115 | $ | 200,682,137 | $ | 73,674,959 | $ | — | |||||||||||||
| $ | — | $ | — | $ | — | $ | — | $ | 17,739,409 | |||||||||||||
| $ | — | $ | 39,633 | $ | — | $ | — | $ | — | |||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 79 |
| Statements of operations (unaudited) |
TIAA-CREF Life Funds § For the period ended June 30, 2014
| Growth Equity Fund |
||||||
|
| ||||||
| INVESTMENT INCOME |
||||||
| Dividends* |
$ | 277,937 | ||||
| Interest |
23 | |||||
| Income from securities lending |
1,869 | |||||
|
| ||||||
| Total income |
279,829 | |||||
|
| ||||||
| EXPENSES |
||||||
| Management fees |
136,769 | |||||
| Shareholder servicing |
1,591 | |||||
| Professional fees |
20,222 | |||||
| Custody and accounting fees |
13,667 | |||||
| Shareholder reports |
5,098 | |||||
| Administrative service fees |
1,737 | |||||
| Trustee fees and expenses |
381 | |||||
| Other expenses |
3,183 | |||||
|
| ||||||
| Total expenses |
182,648 | |||||
| Less: Expenses reimbursed by the investment adviser |
(24,442 | ) | ||||
|
| ||||||
| Net expenses |
158,206 | |||||
|
| ||||||
| Net Investment income (loss) |
121,623 | |||||
|
| ||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS |
||||||
| Realized gain (loss): |
||||||
| Portfolio investments |
3,781,836 | |||||
| Futures transactions |
— | |||||
| Purchased options |
(1,052 | ) | ||||
| Written options |
2,533 | |||||
| Foreign currency transactions |
1,643 | |||||
|
| ||||||
| Net realized gain (loss) on total investments |
3,784,960 | |||||
|
| ||||||
| Change in unrealized appreciation (depreciation) on: |
||||||
| Portfolio investments |
(1,927,648 | ) | ||||
| Purchased options |
(330 | ) | ||||
| Written options |
598 | |||||
| Translation of assets (other than portfolio investments) and liabilities denominated in foreign currencies |
37 | |||||
|
| ||||||
| Net change in unrealized appreciation (depreciation) on total investments |
(1,927,343 | ) | ||||
|
| ||||||
| Net realized and unrealized gain (loss) on total investments |
1,857,617 | |||||
|
| ||||||
| Net increase (decrease) in net assets from operations |
$ | 1,979,240 | ||||
|
| ||||||
| * Net of foreign withholding taxes of |
$ | 12,277 | ||||
| 80 | 2014 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 |
|||||||||||||
|
|
||||||||||||||||
| $ | 979,947 | $ | 1,336,266 | $ | 1,413,857 | $ | 301,825 | |||||||||
| 32 | 41 | 53 | 6 | |||||||||||||
| 16,848 | 22,376 | — | 22,819 | |||||||||||||
|
|
||||||||||||||||
| 996,827 | 1,358,683 | 1,413,910 | 324,650 | |||||||||||||
|
|
||||||||||||||||
| 297,878 | 233,859 | 261,112 | 122,509 | |||||||||||||
| 1,855 | 1,601 | 1,636 | 1,368 | |||||||||||||
| 23,106 | 21,378 | 22,536 | 18,412 | |||||||||||||
| 26,874 | 21,792 | 8,771 | 12,110 | |||||||||||||
| 9,485 | 8,601 | 7,851 | 3,146 | |||||||||||||
| 3,755 | 3,373 | 2,790 | 1,544 | |||||||||||||
| 749 | 573 | 558 | 235 | |||||||||||||
| 5,116 | 4,754 | 3,534 | 5,239 | |||||||||||||
|
|
||||||||||||||||
| 368,818 | 295,931 | 308,788 | 164,563 | |||||||||||||
| (24,446 | ) | (25,069 | ) | (11,023 | ) | (23,778 | ) | |||||||||
|
|
||||||||||||||||
| 344,372 | 270,862 | 297,765 | 140,785 | |||||||||||||
|
|
||||||||||||||||
| 652,455 | 1,087,821 | 1,116,145 | 183,865 | |||||||||||||
|
|
||||||||||||||||
| 5,610,460 | 4,451,042 | 3,456,346 | 3,857,204 | |||||||||||||
| — | — | — | 57,539 | |||||||||||||
| (6,809 | ) | 2,001 | — | — | ||||||||||||
| 64,230 | (501 | ) | 8,253 | — | ||||||||||||
| 932 | 360 | 124 | — | |||||||||||||
|
|
||||||||||||||||
| 5,668,813 | 4,452,902 | 3,464,723 | 3,914,743 | |||||||||||||
|
|
||||||||||||||||
| 2,500,953 | 669,219 | 10,494,109 | (1,998,860 | ) | ||||||||||||
| (1,206 | ) | (45 | ) | — | — | |||||||||||
| (253 | ) | (13 | ) | — | — | |||||||||||
| |
(7) |
|
275 | — | — | |||||||||||
|
|
||||||||||||||||
| 2,499,487 | 669,436 | 10,494,109 | (1,998,860 | ) | ||||||||||||
|
|
||||||||||||||||
| 8,168,300 | 5,122,338 | 13,958,832 | 1,915,883 | |||||||||||||
|
|
||||||||||||||||
| $ | 8,820,755 | $ | 6,210,159 | $ | 15,074,977 | $ | 2,099,748 | |||||||||
|
|
||||||||||||||||
| $ | 16,452 | $ | 15,707 | $ | 218 | $ | — | |||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 81 |
| Statements of operations (unaudited) |
TIAA-CREF Life Fund § For the period ended June 30, 2014
| Social Choice Equity Fund |
||||||
|
| ||||||
| INVESTMENT INCOME |
||||||
| Dividends* |
$ | 615,699 | ||||
| Dividends from affiliated investments |
— | |||||
| Interest |
18 | |||||
| Income from securities lending |
— | |||||
|
| ||||||
| Total income |
615,717 | |||||
|
| ||||||
| EXPENSES |
||||||
| Management fees |
49,014 | |||||
| Shareholder servicing |
1,778 | |||||
| Professional fees |
17,248 | |||||
| Custody and accounting fees |
7,104 | |||||
| Shareholder reports |
6,367 | |||||
| Administrative service fees |
2,113 | |||||
| Trustee fees and expenses |
345 | |||||
| Other expenses |
3,943 | |||||
|
| ||||||
| Total expenses |
87,912 | |||||
| Less: Expenses reimbursed by the investment adviser |
(15,999 | ) | ||||
| Fee waiver by investment adviser |
— | |||||
|
| ||||||
| Net expenses |
71,913 | |||||
|
| ||||||
| Net Investment income (loss) |
543,804 | |||||
|
| ||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS |
||||||
| Realized gain (loss): |
||||||
| Portfolio investments |
||||||
| Affiliated investments |
— | |||||
| Unaffiliated investments |
1,793,260 | |||||
| Futures transactions |
— | |||||
| Purchased options |
— | |||||
| Foreign currency transactions |
— | |||||
|
| ||||||
| Net realized gain (loss) on/from total investments |
1,793,260 | |||||
|
| ||||||
| Change in unrealized appreciation (depreciation) on: |
||||||
| Portfolio investments** |
2,258,416 | |||||
| Affiliated investments |
— | |||||
| Futures transactions |
— | |||||
| Translation of assets (other than portfolio investments) and liabilities denominated in foreign currencies |
— | |||||
|
| ||||||
| Net change in unrealized appreciation (depreciation) on total investments and from affiliated investments |
2,258,416 | |||||
|
| ||||||
| Net realized and unrealized gain (loss) on total investments |
4,051,676 | |||||
|
| ||||||
| Net increase (decrease) in net assets from operations |
$ | 4,595,480 | ||||
|
| ||||||
| * Net of foreign withholding taxes of |
$ | 5 | ||||
| ** Includes net change in unrealized foreign capital gains taxes of |
$ | — | ||||
|
§ For the period January 31, 2014 to June 30, 2014. |
||||||
| 82 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| concluded |
| Stock Index Fund |
International Equity Fund |
Bond Fund |
Money Market Fund |
Balanced Fund§ |
||||||||||||||||
|
|
||||||||||||||||||||
| $ | 2,736,327 | $ | 1,486,083 | $ | — | $ | — | $ | — | |||||||||||
| — | — | — | — | 11 | ||||||||||||||||
| 15 | — | 2,708,226 | 41,698 | — | ||||||||||||||||
| 49,527 | 42,935 | — | — | — | ||||||||||||||||
|
|
||||||||||||||||||||
| 2,785,869 | 1,529,018 | 2,708,226 | 41,698 | 11 | ||||||||||||||||
|
|
||||||||||||||||||||
| 86,367 | 248,209 | 297,335 | 36,542 | 5,658 | ||||||||||||||||
| 1,676 | 1,591 | 1,701 | 1,158 | 1,519 | ||||||||||||||||
| 32,174 | 24,788 | 32,543 | 17,759 | 12,787 | ||||||||||||||||
| 13,097 | 35,939 | 37,247 | 16,633 | 4,895 | ||||||||||||||||
| 16,681 | 5,965 | 16,247 | 5,301 | 13,427 | ||||||||||||||||
| 8,071 | 3,275 | 6,375 | 2,372 | 283 | ||||||||||||||||
| 1,569 | 464 | 1,024 | 366 | 65 | ||||||||||||||||
| 6,358 | 3,658 | 3,920 | 2,460 | 639 | ||||||||||||||||
|
|
||||||||||||||||||||
| 165,993 | 323,889 | 396,392 | 82,591 | 39,273 | ||||||||||||||||
| (36,415 | ) | (25,962 | ) | (49,474 | ) | (27,751 | ) | (33,592 | ) | |||||||||||
| — | — | — | (13,142 | ) | — | |||||||||||||||
|
|
||||||||||||||||||||
| 129,578 | 297,927 | 346,918 | 41,698 | 5,681 | ||||||||||||||||
|
|
||||||||||||||||||||
| 2,656,291 | 1,231,091 | 2,361,308 | — | (5,670 | ) | |||||||||||||||
|
|
||||||||||||||||||||
| — | — | — | — | 4,064 | ||||||||||||||||
| (1,951,645 | ) | 6,763,433 | 1,273,175 | 129 | 3,680 | |||||||||||||||
| 161,624 | — | — | — | — | ||||||||||||||||
| — | — | — | — | — | ||||||||||||||||
| 7 | (11,713 | ) | (351 | ) | — | — | ||||||||||||||
|
|
||||||||||||||||||||
| (1,790,014 | ) | 6,751,720 | 1,272,824 | 129 | 7,744 | |||||||||||||||
|
|
||||||||||||||||||||
| 19,027,243 | (5,068,807 | ) | 4,157,795 | — | — | |||||||||||||||
| — | — | — | — | 766,459 | ||||||||||||||||
| (39,752 | ) | — | — | — | — | |||||||||||||||
|
|
1 |
|
472 | (21 | ) | — | — | |||||||||||||
|
|
||||||||||||||||||||
|
|
18,987,492 |
|
(5,068,335 | ) | 4,157,774 | — | 766,459 | |||||||||||||
|
|
||||||||||||||||||||
| 17,197,478 | 1,683,385 | 5,430,598 | 129 | 774,203 | ||||||||||||||||
|
|
||||||||||||||||||||
| $ | 19,853,769 | $ | 2,914,476 | $ | 7,791,906 | $ | 129 | $ | 768,533 | |||||||||||
|
|
||||||||||||||||||||
| $ | 1,159 | $ | 163,793 | $ | — | $ | — | $ | — | |||||||||||
| $ | — | $ | (257,112 | ) | $ | — | $ | — | $ | — | ||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 83 |
| Statements of changes in net assets |
TIAA-CREF Life Funds § For the period or year ended
| Growth Equity Fund | ||||||||||
| June 30, 2014 | December 31, 2013 | |||||||||
|
| ||||||||||
| (unaudited) | ||||||||||
| OPERATIONS |
||||||||||
| Net investment income (loss) |
$ | 121,623 | $ | 151,113 | ||||||
| Net realized gain (loss) on total investments |
3,784,960 | 6,636,578 | ||||||||
| Net change in unrealized appreciation (depreciation) on total investments |
(1,927,343 | ) | 10,691,986 | |||||||
|
| ||||||||||
| Net increase (decrease) in net assets from operations |
1,979,240 | 17,479,677 | ||||||||
|
| ||||||||||
| DISTRIBUTIONS TO SHAREHOLDERS: |
||||||||||
| From net investment income |
— | (146,110 | ) | |||||||
| From realized gains |
— | — | ||||||||
|
| ||||||||||
| Total distributions |
— | (146,110 | ) | |||||||
|
| ||||||||||
| SHAREHOLDER TRANSACTIONS: |
||||||||||
| Subscriptions |
4,710,684 | 12,704,978 | ||||||||
| Reinvestments of distributions |
— | 146,110 | ||||||||
| Redemptions |
(5,451,598 | ) | (11,092,599 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
(740,914 | ) | 1,758,489 | |||||||
|
| ||||||||||
| Net increase (decrease) in net assets |
1,238,326 | 19,092,056 | ||||||||
| NET ASSETS |
||||||||||
| Beginning of period |
61,802,494 | 42,710,438 | ||||||||
|
| ||||||||||
| End of period |
$ | 63,040,820 | $ | 61,802,494 | ||||||
|
| ||||||||||
| Undistributed net investment income (loss) included in net assets |
$ | 150,215 | $ | 28,592 | ||||||
|
| ||||||||||
| CHANGE IN FUND SHARES: |
||||||||||
| Shares sold |
181,283 | 581,401 | ||||||||
| Shares reinvested |
— | 5,624 | ||||||||
| Shares redeemed |
(209,027 | ) | (504,339 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
(27,744 | ) | 82,686 | |||||||
|
| ||||||||||
| 84 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| Growth & Income Fund | Large-Cap Value Fund | |||||||||||||||||
| June 30, 2014 | December 31, 2013 | June 30, 2014 | December 31, 2013 | |||||||||||||||
|
|
||||||||||||||||||
| (unaudited) | (unaudited) | |||||||||||||||||
| $ | 652,455 | $ | 1,277,295 | $ | 1,087,821 | $ | 1,384,025 | |||||||||||
| 5,668,813 | 12,640,303 | 4,452,902 | 11,138,395 | |||||||||||||||
|
|
2,499,487 |
|
18,963,566 | 669,436 | 13,331,582 | |||||||||||||
|
|
||||||||||||||||||
| 8,820,755 | 32,881,164 | 6,210,159 | 25,854,002 | |||||||||||||||
|
|
||||||||||||||||||
| — | (1,261,991 | ) | — | (1,826,448 | ) | |||||||||||||
| — | (10,840,812 | ) | — | (5,541,114 | ) | |||||||||||||
|
|
||||||||||||||||||
| — | (12,102,803 | ) | — | (7,367,562 | ) | |||||||||||||
|
|
||||||||||||||||||
| 7,479,860 | 18,964,713 | 5,128,553 | 17,381,922 | |||||||||||||||
| — | 12,102,803 | — | 7,367,562 | |||||||||||||||
| (7,519,262 | ) | (12,657,368 | ) | (7,921,946 | ) | (10,057,671 | ) | |||||||||||
|
|
||||||||||||||||||
| (39,402 | ) | 18,410,148 | (2,793,393 | ) | 14,691,813 | |||||||||||||
|
|
||||||||||||||||||
| 8,781,353 | 39,188,509 | 3,416,766 | 33,178,253 | |||||||||||||||
| 131,597,185 | 92,408,676 | 104,868,881 | 71,690,628 | |||||||||||||||
|
|
||||||||||||||||||
| $ | 140,378,538 | $ | 131,597,185 | $ | 108,285,647 | $ | 104,868,881 | |||||||||||
|
|
||||||||||||||||||
| $ | 677,603 | $ | 25,149 | $ | 1,104,944 | $ | 17,123 | |||||||||||
|
|
||||||||||||||||||
| 201,266 | 535,343 | 140,696 | 507,173 | |||||||||||||||
| — | 332,769 | — | 204,996 | |||||||||||||||
| (200,160 | ) | (356,162 | ) | (213,468 | ) | (289,165 | ) | |||||||||||
|
|
||||||||||||||||||
| 1,106 | 511,950 | (72,772 | ) | 423,004 | ||||||||||||||
|
|
||||||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 85 |
| Statements of changes in net assets |
TIAA-CREF Life Funds § For the period or year ended
| Real Estate Securities Fund | ||||||||||
| June 30, 2014 | December 31, 2013 | |||||||||
|
| ||||||||||
| (unaudited) | ||||||||||
| OPERATIONS |
||||||||||
| Net investment income (loss) |
$ | 1,116,145 | $ | 1,742,613 | ||||||
| Net realized gain (loss) on total investments |
3,464,723 | 5,960,795 | ||||||||
| Net change in unrealized appreciation (depreciation) on total investments |
10,494,109 | (6,043,030 | ) | |||||||
|
| ||||||||||
| Net increase (decrease) in net assets from operations |
15,074,977 | 1,660,378 | ||||||||
|
| ||||||||||
| DISTRIBUTIONS TO SHAREHOLDERS: |
||||||||||
| From net investment income |
— | (1,755,633 | ) | |||||||
| From realized gains |
— | — | ||||||||
|
| ||||||||||
| Total distributions |
— | (1,755,633 | ) | |||||||
|
| ||||||||||
| SHAREHOLDER TRANSACTIONS: |
||||||||||
| Subscriptions |
7,457,726 | 11,354,641 | ||||||||
| Reinvestments of distributions |
— | 1,755,633 | ||||||||
| Redemptions |
(5,296,228 | ) | (13,233,580 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
2,161,498 | (123,306 | ) | |||||||
|
| ||||||||||
| Net increase (decrease) in net assets |
17,236,475 | (218,561 | ) | |||||||
| NET ASSETS |
||||||||||
| Beginning of period |
96,202,257 | 96,420,818 | ||||||||
|
| ||||||||||
| End of period |
$ | 113,438,732 | $ | 96,202,257 | ||||||
|
| ||||||||||
| Undistributed net investment income (loss) included in net assets |
$ | 1,419,500 | $ | 303,355 | ||||||
|
| ||||||||||
| CHANGE IN FUND SHARES: |
||||||||||
| Shares sold |
233,379 | 368,888 | ||||||||
| Shares reinvested |
— | 59,960 | ||||||||
| Shares redeemed |
(165,661 | ) | (437,064 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
67,718 | (8,216 | ) | |||||||
|
| ||||||||||
| 86 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| continued |
| Small-Cap Equity Fund | Social Choice Equity Fund | |||||||||||||||
| June 30, 2014 | December 31, 2013 | June 30, 2014 | December 31, 2013 | |||||||||||||
|
|
||||||||||||||||
| (unaudited) | (unaudited) | |||||||||||||||
| $ | 183,865 | $315,112 | $ | 543,804 | $ | 930,464 | ||||||||||
| 3,914,743 | 9,611,248 | 1,793,260 | 883,035 | |||||||||||||
|
|
(1,998,860 |
) |
5,436,575 | 2,258,416 | 14,033,026 | |||||||||||
|
|
||||||||||||||||
| 2,099,748 | 15,362,935 | 4,595,480 | 15,846,525 | |||||||||||||
|
|
||||||||||||||||
| — | (300,228) | — | (925,671 | ) | ||||||||||||
| — | (7,659,492) | — | — | |||||||||||||
|
|
||||||||||||||||
| — | (7,959,720) | — | (925,671 | ) | ||||||||||||
|
|
||||||||||||||||
| 4,115,784 | 10,804,358 | 2,571,815 | 9,555,816 | |||||||||||||
| — | 7,959,720 | — | 925,671 | |||||||||||||
| (4,645,575 | ) | (34,811,928) | (2,388,592 | ) | (4,163,827 | ) | ||||||||||
|
|
||||||||||||||||
| (529,791 | ) | (16,047,850) | 183,223 | 6,317,660 | ||||||||||||
|
|
||||||||||||||||
| 1,569,957 | (8,644,635) | 4,778,703 | 21,238,514 | |||||||||||||
| 51,436,637 | 60,081,272 | 64,930,924 | 43,692,410 | |||||||||||||
|
|
||||||||||||||||
| $ | 53,006,594 | $51,436,637 | $ | 69,709,627 | $ | 64,930,924 | ||||||||||
|
|
||||||||||||||||
| $ |
212,706 |
|
$28,841 | $ | 761,959 | $ | 218,156 | |||||||||
|
|
||||||||||||||||
| 113,382 | 289,282 | 69,519 | 299,024 | |||||||||||||
| — | 222,463 | — | 25,871 | |||||||||||||
| (127,843 | ) | (1,041,968) | (64,563 | ) | (127,711 | ) | ||||||||||
|
|
||||||||||||||||
| (14,461 | ) | (530,223) | 4,956 | 197,184 | ||||||||||||
|
|
||||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 87 |
| Statements of changes in net assets |
TIAA-CREF Life Funds § For the period or year ended
| Stock Index Fund | ||||||||||
| June 30, 2014 | December 31, 2013 | |||||||||
|
| ||||||||||
| (unaudited) | ||||||||||
| OPERATIONS |
||||||||||
| Net investment income (loss) |
$ | 2,656,291 | $ | 4,644,609 | ||||||
| Net realized gain (loss) on total investments |
(1,790,014 | ) | (1,555,922 | ) | ||||||
| Net change in unrealized appreciation (depreciation) on total investments |
18,987,492 | 66,637,476 | ||||||||
|
| ||||||||||
| Net increase (decrease) in net assets from operations |
19,853,769 | 69,726,163 | ||||||||
|
| ||||||||||
| DISTRIBUTIONS TO SHAREHOLDERS: |
||||||||||
| From net investment income |
— | (4,754,611 | ) | |||||||
| From realized gains |
— | (426,093 | ) | |||||||
|
| ||||||||||
| Total distributions |
— | (5,180,704 | ) | |||||||
|
| ||||||||||
| SHAREHOLDER TRANSACTIONS: |
||||||||||
| Subscriptions |
16,788,500 | 29,996,781 | ||||||||
| Reinvestments of distributions |
— | 5,180,704 | ||||||||
| Redemptions |
(23,380,388 | ) | (23,696,144 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
(6,591,888 | ) | 11,481,341 | |||||||
|
| ||||||||||
| Net increase (decrease) in net assets |
13,261,881 | 76,026,800 | ||||||||
| NET ASSETS |
||||||||||
| Beginning of period |
283,116,523 | 207,089,723 | ||||||||
|
| ||||||||||
| End of period |
$ | 296,378,404 | $ | 283,116,523 | ||||||
|
| ||||||||||
| Undistributed net investment income (loss) included in net assets |
$ | 3,090,688 | $ | 434,397 | ||||||
|
| ||||||||||
| CHANGE IN FUND SHARES: |
||||||||||
| Shares sold |
403,996 | 815,818 | ||||||||
| Shares reinvested |
— | 127,824 | ||||||||
| Shares redeemed |
(546,880 | ) | (653,330 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
(142,884 | ) | 290,312 | |||||||
|
| ||||||||||
| 88 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| continued |
| International Equity Fund | Bond Fund | |||||||||||||||||
| June 30, 2014 | December 31, 2013 | June 30, 2014 | December 31, 2013 | |||||||||||||||
|
|
||||||||||||||||||
| (unaudited) | (unaudited) | |||||||||||||||||
| $ | 1,231,091 | $ | 1,526,807 | $ | 2,361,308 | $ | 4,584,079 | |||||||||||
| 6,751,720 | 12,505,943 | 1,272,824 | 757,179 | |||||||||||||||
| (5,068,335 | ) | 4,793,763 | 4,157,774 | (8,267,305 | ) | |||||||||||||
|
|
||||||||||||||||||
| 2,914,476 | 18,826,513 | 7,791,906 | (2,926,047 | ) | ||||||||||||||
|
|
||||||||||||||||||
| — | (2,126,383 | ) | — | (4,584,976 | ) | |||||||||||||
| — | — | — | (1,216,376 | ) | ||||||||||||||
|
|
||||||||||||||||||
| — | (2,126,383 | ) | — | (5,801,352 | ) | |||||||||||||
|
|
||||||||||||||||||
| 5,560,033 | 11,682,643 | 17,215,402 | 21,619,485 | |||||||||||||||
| — | 2,126,383 | — | 5,801,352 | |||||||||||||||
| (9,125,301 | ) | (9,424,619 | ) | (4,998,812 | ) | (13,847,856 | ) | |||||||||||
|
|
||||||||||||||||||
| (3,565,268 | ) | 4,384,407 | 12,216,590 | 13,572,981 | ||||||||||||||
|
|
||||||||||||||||||
| (650,792 | ) | 21,084,537 | 20,008,496 | 4,845,582 | ||||||||||||||
| 98,105,841 | 77,021,304 | 189,408,600 | 184,563,018 | |||||||||||||||
|
|
||||||||||||||||||
| $ | 97,455,049 | $ | 98,105,841 | $ | 209,417,096 | $ | 189,408,600 | |||||||||||
|
|
||||||||||||||||||
| $ |
2,423,771 |
|
$ | 1,192,680 | $ | 2,355,449 | $ | (5,859 | ) | |||||||||
|
|
||||||||||||||||||
| 274,727 | 641,863 | 675,446 | 836,639 | |||||||||||||||
| — | 108,600 | — | 231,868 | |||||||||||||||
| (442,861 | ) | (521,661 | ) | (196,480 | ) | (537,143 | ) | |||||||||||
|
|
||||||||||||||||||
| (168,134 | ) | 228,802 | 478,966 | 531,364 | ||||||||||||||
|
|
||||||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 89 |
| Statements of changes in net assets |
TIAA-CREF Life Funds § For the period or year ended
| Money Market Fund | ||||||||||
| June 30, 2014 | December 31, 2013 | |||||||||
|
| ||||||||||
| (unaudited) | ||||||||||
| OPERATIONS |
||||||||||
| Net investment income (loss) |
$ | — | $ | 3,395 | ||||||
| Net realized gain (loss) on/from total investments |
129 | 476 | ||||||||
| Net change in unrealized appreciation (depreciation) on total investments and from affiliated investments |
— | — | ||||||||
|
| ||||||||||
| Net increase (decrease) in net assets from operations |
129 | 3,871 | ||||||||
|
| ||||||||||
| DISTRIBUTIONS TO SHAREHOLDERS: |
||||||||||
| From net investment income |
— | (3,395 | ) | |||||||
| From realized gains |
— | — | ||||||||
|
| ||||||||||
| Total distributions |
— | (3,395 | ) | |||||||
|
| ||||||||||
| SHAREHOLDER TRANSACTIONS: |
||||||||||
| Subscriptions |
48,994,821 | 124,270,750 | ||||||||
| Reinvestments of distributions |
— | 3,395 | ||||||||
| Redemptions |
(49,672,398 | ) | (113,466,820 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
(677,577 | ) | 10,807,325 | |||||||
|
| ||||||||||
| Net increase (decrease) in net assets |
(677,448 | ) | 10,807,801 | |||||||
| NET ASSETS |
||||||||||
| Beginning of period |
73,406,245 | 62,598,444 | ||||||||
|
| ||||||||||
| End of period |
$ | 72,728,797 | $ | 73,406,245 | ||||||
|
| ||||||||||
| Undistributed net investment income (loss) included in net assets |
$ | (1,130 | ) | $ | (1,130 | ) | ||||
|
| ||||||||||
| CHANGE IN FUND SHARES: |
||||||||||
| Shares sold |
48,994,821 | 124,270,750 | ||||||||
| Shares reinvested |
— | 3,395 | ||||||||
| Shares redeemed |
(49,672,398 | ) | (113,466,820 | ) | ||||||
|
| ||||||||||
| Net increase (decrease) from shareholder transactions |
(677,577 | ) | 10,807,325 | |||||||
|
| ||||||||||
| * | For the period January 31, 2014 to June 30, 2014. |
| 90 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| concluded |
| Balanced Fund* | ||||
| June 30, 2014 | ||||
|
|
||||
| (unaudited) | ||||
| $ | (5,670 | ) | ||
| 7,744 | ||||
| 766,459 | ||||
|
|
||||
| 768,533 | ||||
|
|
||||
| — | ||||
| — | ||||
|
|
||||
| — | ||||
|
|
||||
| 17,949,549 | ||||
| — | ||||
| (131,661 | ) | |||
|
|
||||
| 17,817,888 | ||||
|
|
||||
| 18,586,421 | ||||
| — | ||||
|
|
||||
| $ | 18,586,421 | |||
|
|
||||
| $ | (5,670 | ) | ||
|
|
||||
| 1,774,731 | ||||
| — | ||||
| (12,681 | ) | |||
|
|
||||
| 1,762,050 | ||||
|
|
||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 91 |
| Financial highlights |
TIAA-CREF Life Funds
| Selected per share data | ||||||||||||||||||||||||||||||
| Gain (loss) from investment operations | Less distributions from | |||||||||||||||||||||||||||||
| For the period or year ended |
Net asset value, beginning of period |
Net investment income (loss)a |
Net realized on total |
Total from |
Net investment income |
Net realized gains |
||||||||||||||||||||||||
| GROWTH EQUITY FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14 | # | $ | 26.37 | $ | 0.05 | $ | 0.80 | $ | 0.85 | $ | — | $ | — | |||||||||||||||||
| 12/31/13 | 18.89 | 0.07 | 7.47 | 7.54 | (0.06 | ) | — | |||||||||||||||||||||||
| 12/31/12 | 16.26 | 0.12 | 2.64 | 2.76 | (0.13 | ) | — | |||||||||||||||||||||||
| 12/31/11 | 16.01 | 0.05 | 0.25 | 0.30 | (0.05 | ) | — | |||||||||||||||||||||||
| 12/31/10 | 14.18 | 0.07 | 1.83 | 1.90 | (0.07 | ) | — | |||||||||||||||||||||||
| 12/31/09 | 10.55 | 0.11 | 3.63 | 3.74 | (0.11 | ) | — | |||||||||||||||||||||||
| GROWTH & INCOME FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14 | # | 37.02 | 0.18 | 2.28 | 2.46 | — | — | |||||||||||||||||||||||
| 12/31/13 | 30.37 | 0.40 | 9.98 | 10.38 | (0.39 | ) | (3.34 | ) | ||||||||||||||||||||||
| 12/31/12 | 26.54 | 0.42 | 3.94 | 4.36 | (0.53 | ) | — | |||||||||||||||||||||||
| 12/31/11 | 26.07 | 0.29 | 0.47 | 0.76 | (0.29 | ) | — | |||||||||||||||||||||||
| 12/31/10 | 23.27 | 0.30 | 2.82 | 3.12 | (0.32 | ) | — | |||||||||||||||||||||||
| 12/31/09 | 18.50 | 0.36 | 4.77 | 5.13 | (0.36 | ) | — | |||||||||||||||||||||||
| LARGE-CAP VALUE FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14 | # | 36.64 | 0.38 | 1.80 | 2.18 | — | — | |||||||||||||||||||||||
| 12/31/13 | 29.39 | 0.54 | 9.49 | 10.03 | (0.69 | ) | (2.09 | ) | ||||||||||||||||||||||
| 12/31/12 | 24.92 | 0.55 | 4.47 | 5.02 | (0.55 | ) | — | |||||||||||||||||||||||
| 12/31/11 | 26.95 | 0.41 | (2.03 | ) | (1.62 | ) | (0.41 | ) | — | |||||||||||||||||||||
| 12/31/10 | 23.11 | 0.37 | 3.87 | 4.24 | (0.40 | ) | — | |||||||||||||||||||||||
| 12/31/09 | 17.87 | 0.42 | 5.20 | 5.62 | (0.38 | ) | — | |||||||||||||||||||||||
| REAL ESTATE SECURITIES FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14 | # | 29.36 | 0.34 | 4.22 | 4.56 | — | — | |||||||||||||||||||||||
| 12/31/13 | 29.35 | 0.53 | (0.02 | ) | 0.55 | (0.54 | ) | — | ||||||||||||||||||||||
| 12/31/12 | 24.94 | 0.45 | 4.48 | 4.93 | (0.52 | ) | — | |||||||||||||||||||||||
| 12/31/11 | 23.67 | 0.38 | 1.20 | 1.58 | (0.31 | ) | — | |||||||||||||||||||||||
| 12/31/10 | 18.43 | 0.35 | 5.37 | 5.72 | (0.48 | ) | — | |||||||||||||||||||||||
| 12/31/09 | 15.24 | 0.49 | 3.32 | 3.81 | (0.62 | ) | — | |||||||||||||||||||||||
| SMALL-CAP EQUITY FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14 | # | 36.32 | 0.13 | 1.37 | 1.50 | — | — | |||||||||||||||||||||||
| 12/31/13 | 30.87 | 0.27 | 11.93 | 12.20 | (0.25 | ) | (6.50 | ) | ||||||||||||||||||||||
| 12/31/12 | 27.38 | 0.32 | 3.52 | 3.84 | (0.35 | ) | — | |||||||||||||||||||||||
| 12/31/11 | 28.76 | 0.14 | (1.36 | ) | (1.22 | ) | (0.16 | ) | — | |||||||||||||||||||||
| 12/31/10 | 22.70 | 0.19 | 6.06 | 6.25 | (0.19 | ) | — | |||||||||||||||||||||||
| 12/31/09 | 17.99 | 0.25 | 4.74 | 4.99 | (0.28 | ) | — | |||||||||||||||||||||||
| 92 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
|
|
Ratios and supplemental data | |||||||||||||||||||||||||||||||
| Ratios to average net assets | ||||||||||||||||||||||||||||||||
| Total dividends and distributions |
Net asset value, end of period |
Total return |
Net assets (in thousands) |
Gross expenses |
Net expenses |
Net investment income (loss) |
Portfolio turnover rate |
|||||||||||||||||||||||||
| $ | — | $ | 27.22 | 3.22 | %b | $ | 63,041 | 0.60 | %c | 0.52 | %c | 0.40 | %c | 53 | %b | |||||||||||||||||
| (0.06) | 26.37 | 39.94 | 61,802 | 0.66 | 0.52 | 0.29 | 105 | |||||||||||||||||||||||||
| (0.13) | 18.89 | 16.99 | 42,710 | 0.74 | 0.52 | 0.69 | 155 | |||||||||||||||||||||||||
| (0.05) | 16.26 | 1.85 | 40,950 | 0.76 | 0.52 | 0.29 | 136 | |||||||||||||||||||||||||
| (0.07) | 16.01 | 13.42 | 37,552 | 0.63 | 0.43 | 0.48 | 208 | |||||||||||||||||||||||||
| (0.11) | 14.18 | 35.47 | 36,230 | 0.26 | 0.26 | 0.98 | 257 | |||||||||||||||||||||||||
| — | 39.48 | 6.65 | b | 140,379 | 0.56 | c | 0.52 | c | 0.99 | c | 50 | b | ||||||||||||||||||||
| (3.73) | 37.02 | 34.38 | 131,597 | 0.61 | 0.52 | 1.15 | 141 | |||||||||||||||||||||||||
| (0.53) | 30.37 | 16.43 | 92,409 | 0.69 | 0.52 | 1.41 | 115 | |||||||||||||||||||||||||
| (0.29) | 26.54 | 2.96 | 76,240 | 0.70 | 0.52 | 1.09 | 109 | |||||||||||||||||||||||||
| (0.32) | 26.07 | 13.41 | 72,029 | 0.56 | 0.42 | 1.26 | 138 | |||||||||||||||||||||||||
| (0.36) | 23.27 | 27.76 | 65,719 | 0.23 | 0.23 | 1.77 | 141 | |||||||||||||||||||||||||
| — | 38.82 | 5.95 | b | 108,286 | 0.57 | c | 0.52 | c | 2.09 | c | 31 | b | ||||||||||||||||||||
| (2.78) | 36.64 | 34.31 | 104,869 | 0.60 | 0.52 | 1.54 | 58 | |||||||||||||||||||||||||
| (0.55) | 29.39 | 20.14 | 71,691 | 0.70 | 0.52 | 1.99 | 77 | |||||||||||||||||||||||||
| (0.41) | 24.92 | (5.95 | ) | 60,441 | 0.71 | 0.52 | 1.56 | 80 | ||||||||||||||||||||||||
| (0.40) | 26.95 | 18.36 | 64,277 | 0.59 | 0.43 | 1.52 | 102 | |||||||||||||||||||||||||
| (0.38) | 23.11 | 31.45 | 54,447 | 0.25 | 0.25 | 2.12 | 149 | |||||||||||||||||||||||||
| — | 33.92 | 15.53 | b | 113,439 | 0.59 | c | 0.57 | c | 2.14 | c | 31 | b | ||||||||||||||||||||
| (0.54) | 29.36 | 1.89 | 96,202 | 0.63 | 0.57 | 1.72 | 58 | |||||||||||||||||||||||||
| (0.52) | 29.35 | 19.79 | 96,421 | 0.71 | 0.57 | 1.59 | 65 | |||||||||||||||||||||||||
| (0.31) | 24.94 | 6.73 | 79,535 | 0.71 | 0.57 | 1.53 | 58 | |||||||||||||||||||||||||
| (0.48) | 23.67 | 31.16 | 73,759 | 0.60 | 0.48 | 1.63 | 66 | |||||||||||||||||||||||||
| (0.62) | 18.43 | 25.11 | 53,565 | 0.25 | 0.25 | 3.37 | 65 | |||||||||||||||||||||||||
| — | 37.82 | 4.13 | b | 53,007 | 0.64 | c | 0.54 | c | 0.71 | c | 48 | b | ||||||||||||||||||||
| (6.75) | 36.32 | 39.87 | 51,437 | 0.73 | 0.55 | 0.72 | 87 | |||||||||||||||||||||||||
| (0.35) | 30.87 | 14.02 | 60,081 | 0.75 | 0.55 | 1.08 | 118 | |||||||||||||||||||||||||
| (0.16) | 27.38 | (4.23 | ) | 55,391 | 0.76 | 0.55 | 0.48 | 100 | ||||||||||||||||||||||||
| (0.19) | 28.76 | 27.55 | 60,435 | 0.58 | 0.41 | 0.75 | 98 | |||||||||||||||||||||||||
| (0.28) | 22.70 | 27.75 | 42,921 | 0.11 | 0.11 | 1.33 | 107 | |||||||||||||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 93 |
| Financial highlights |
TIAA-CREF Life Funds
| Selected per share data | ||||||||||||||||||||||||||||||
| Gain (loss) from investment operations | Less distributions from | |||||||||||||||||||||||||||||
| For the period or year ended |
Net asset value, beginning of period |
Net investment income (loss)a |
Net realized on total |
Total from |
Net investment income |
Net realized gains |
||||||||||||||||||||||||
| SOCIAL CHOICE EQUITY FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14 | # | $ | 36.39 | $ | 0.30 | $ | 2.28 | $ | 2.58 | $ | — | $ | — | |||||||||||||||||
| 12/31/13 | 27.53 | 0.55 | 8.84 | 9.39 | (0.53 | ) | — | |||||||||||||||||||||||
| 12/31/12 | 24.61 | 0.58 | 2.87 | 3.45 | (0.53 | ) | — | |||||||||||||||||||||||
| 12/31/11 | 25.07 | 0.43 | (0.45 | ) | (0.02 | ) | (0.44 | ) | — | |||||||||||||||||||||
| 12/31/10 | 21.99 | 0.43 | 3.09 | 3.52 | (0.44 | ) | — | |||||||||||||||||||||||
| 12/31/09 | 16.91 | 0.40 | 5.09 | 5.49 | (0.41 | ) | — | |||||||||||||||||||||||
| STOCK INDEX FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14 | # | 41.22 | 0.38 | 2.47 | 2.85 | — | — | |||||||||||||||||||||||
| 12/31/13 | 31.48 | 0.70 | 9.81 | 10.51 | (0.71 | ) | (0.06 | ) | ||||||||||||||||||||||
| 12/31/12 | 27.81 | 0.68 | 3.87 | 4.55 | (0.68 | ) | (0.20 | ) | ||||||||||||||||||||||
| 12/31/11 | 28.09 | 0.53 | (0.28 | ) | 0.25 | (0.53 | ) | — | ||||||||||||||||||||||
| 12/31/10 | 24.46 | 0.47 | 3.63 | 4.10 | (0.47 | ) | — | |||||||||||||||||||||||
| 12/31/09 | 19.39 | 0.44 | 5.05 | 5.49 | (0.42 | ) | — | |||||||||||||||||||||||
| INTERNATIONAL EQUITY FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14 | # | 20.15 | 0.25 | 0.33 | 0.58 | — | — | |||||||||||||||||||||||
| 12/31/13 | 16.60 | 0.33 | 3.67 | 4.00 | (0.45 | ) | — | |||||||||||||||||||||||
| 12/31/12 | 12.85 | 0.32 | 3.70 | 4.02 | (0.27 | ) | — | |||||||||||||||||||||||
| 12/31/11 | 17.24 | 0.28 | (4.41 | ) | (4.13 | ) | (0.26 | ) | — | |||||||||||||||||||||
| 12/31/10 | 14.58 | 0.19 | 2.67 | 2.86 | (0.20 | ) | — | |||||||||||||||||||||||
| 12/31/09 | 11.43 | 0.22 | 3.40 | 3.62 | (0.47 | ) | — | |||||||||||||||||||||||
| BOND FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14 | # | 24.96 | 0.30 | 0.70 | 1.00 | — | — | |||||||||||||||||||||||
| 12/31/13 | 26.15 | 0.64 | (1.04 | ) | (0.40 | ) | (0.62 | ) | (0.17 | ) | ||||||||||||||||||||
| 12/31/12 | 25.60 | 0.77 | 1.00 | 1.77 | (0.74 | ) | (0.48 | ) | ||||||||||||||||||||||
| 12/31/11 | 24.88 | 0.87 | 0.70 | 1.57 | (0.85 | ) | — | |||||||||||||||||||||||
| 12/31/10 | 24.13 | 0.93 | 0.73 | 1.66 | (0.91 | ) | — | |||||||||||||||||||||||
| 12/31/09 | 23.38 | 1.06 | 0.68 | 1.74 | (0.99 | ) | — | |||||||||||||||||||||||
| MONEY MARKET FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14 | # | 1.00 | — | 0.00 | d | 0.00 | d | — | — | |||||||||||||||||||||
| 12/31/13 | 1.00 | 0.00 | d | — | 0.00 | d | (0.00 | )d | — | |||||||||||||||||||||
| 12/31/12 | 1.00 | 0.00 | d | 0.00 | d | 0.00 | d | (0.00 | )d | — | ||||||||||||||||||||
| 12/31/11 | 1.00 | 0.00 | d | 0.00 | d | 0.00 | d | (0.00 | )d | — | ||||||||||||||||||||
| 12/31/10 | 1.00 | 0.00 | d | 0.00 | d | 0.00 | d | (0.00 | )d | — | ||||||||||||||||||||
| 12/31/09 | 1.00 | 0.01 | 0.00 | d | 0.01 | (0.01 | ) | — | ||||||||||||||||||||||
| BALANCED FUND |
|
|||||||||||||||||||||||||||||
| 6/30/14‡ | # | 10.00 | (0.00 | )d | 0.55 | 0.55 | — | — | ||||||||||||||||||||||
| 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. |
| # | Unaudited. |
| ‡ | The Fund commenced operations on January 31, 2014. |
| 94 | 2014 Semiannual Report § TIAA-CREF Life Funds | See notes to financial statements |
| concluded |
|
|
Ratios and supplemental data | |||||||||||||||||||||||||||||||
| Ratios to average net assets | ||||||||||||||||||||||||||||||||
| Total dividends and distributions |
Net asset value, end of period |
Total return |
Net assets (in thousands) |
Gross expenses |
Net expenses |
Net investment income (loss) |
Portfolio turnover rate |
|||||||||||||||||||||||||
| $ — | $ | 38.97 | 7.09 | %b | $ | 69,710 | 0.27 | %c | 0.22 | %c | 1.66 | %c | 8 | %b | ||||||||||||||||||
| (0.53) | 36.39 | 34.13 | 64,931 | 0.33 | 0.22 | 1.68 | 11 | |||||||||||||||||||||||||
| (0.53) | 27.53 | 14.01 | 43,692 | 0.43 | 0.22 | 2.16 | 16 | |||||||||||||||||||||||||
| (0.44) | 24.61 | (0.05 | ) | 37,295 | 0.49 | 0.22 | 1.71 | 18 | ||||||||||||||||||||||||
| (0.44) | 25.07 | 16.01 | 35,344 | 0.42 | 0.17 | 1.87 | 18 | |||||||||||||||||||||||||
| (0.41) | 21.99 | 32.51 | 30,929 | 0.08 | 0.08 | 2.20 | 15 | |||||||||||||||||||||||||
| — | 44.07 | 6.91 | b | 296,378 | 0.12 | c | 0.09 | c | 1.85 | c | 6 | b | ||||||||||||||||||||
| (0.77 | ) | 41.22 | 33.43 | 283,117 | 0.16 | 0.09 | 1.90 | 5 | ||||||||||||||||||||||||
| (0.88 | ) | 31.48 | 16.35 | 207,090 | 0.25 | 0.09 | 2.22 | 6 | ||||||||||||||||||||||||
| (0.53 | ) | 27.81 | 0.95 | 180,256 | 0.26 | 0.09 | 1.85 | 6 | ||||||||||||||||||||||||
| (0.47 | ) | 28.09 | 16.79 | 177,274 | 0.21 | 0.08 | 1.86 | 7 | ||||||||||||||||||||||||
| (0.42 | ) | 24.46 | 28.36 | 152,314 | 0.06 | 0.06 | 2.11 | 7 | ||||||||||||||||||||||||
| — | 20.73 | 2.88b | 97,455 | 0.65 | c | 0.60 | c | 2.48 | c | 54 | b | |||||||||||||||||||||
| (0.45 | ) | 20.15 | 24.15 | 98,106 | 0.74 | 0.60 | 1.79 | 133 | ||||||||||||||||||||||||
| (0.27 | ) | 16.60 | 31.27 | 77,021 | 0.80 | 0.60 | 2.21 | 111 | ||||||||||||||||||||||||
| (0.26 | ) | 12.85 | (23.88) | 81,275 | 0.81 | 0.60 | 1.77 | 108 | ||||||||||||||||||||||||
| (0.20 | ) | 17.24 | 19.63 | 111,732 | 0.65 | 0.50 | 1.30 | 117 | ||||||||||||||||||||||||
| (0.47 | ) | 14.58 | 31.74 | 94,015 | 0.30 | 0.30 | 1.78 | 116 | ||||||||||||||||||||||||
| — | 25.96 | 4.01b | 209,417 | 0.40 | c | 0.35 | c | 2.38 | c | 108 | b | |||||||||||||||||||||
| (0.79 | ) | 24.96 | (1.54) | 189,409 | 0.44 | 0.35 | 2.46 | 133 | ||||||||||||||||||||||||
| (1.22 | ) | 26.15 | 6.91 | 184,563 | 0.53 | 0.35 | 2.92 | 174 | ||||||||||||||||||||||||
| (0.85 | ) | 25.60 | 6.31 | 158,136 | 0.53 | 0.35 | 3.41 | 92 | ||||||||||||||||||||||||
| (0.91 | ) | 24.88 | 6.91 | 137,000 | 0.41 | 0.27 | 3.66 | 67 | ||||||||||||||||||||||||
| (0.99 | ) | 24.13 | 7.40 | 115,865 | 0.10 | 0.10 | 4.41 | 147 | ||||||||||||||||||||||||
| — | 1.00 | 0.00 | b | 72,729 | 0.23 | c | 0.11 | c | 0.00 | c | — | |||||||||||||||||||||
| (0.00 | )d | 1.00 | 0.01 | 73,406 | 0.27 | 0.13 | 0.00 | — | ||||||||||||||||||||||||
| (0.00 | )d | 1.00 | 0.02 | 62,598 | 0.39 | 0.15 | 0.02 | — | ||||||||||||||||||||||||
| (0.00 | )d | 1.00 | 0.03 | 59,822 | 0.39 | 0.15 | 0.03 | — | ||||||||||||||||||||||||
| (0.00 | )d | 1.00 | 0.12 | 61,766 | 0.27 | 0.12 | 0.12 | — | ||||||||||||||||||||||||
| (0.01 | ) | 1.00 | 0.54 | 74,102 | 0.09 | 0.09 | 0.58 | — | ||||||||||||||||||||||||
| — | 10.55 | 5.50b | 18,586 | 0.69 | c | 0.10 | c | (0.10 | )c | 21 | b | |||||||||||||||||||||
| See notes to financial statements | TIAA-CREF Life Funds § 2014 Semiannual Report | 95 |
| 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 (“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, Money Market Fund and Balanced 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 Balanced Fund commenced operations on January 31, 2014.
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. Foreign dividend income is recorded on the ex-dividend date or as soon as possible after the Funds determine the existence of a dividend declaration after exercising reasonable due diligence. Realized gains and losses on securities transactions are based upon the specific identification method. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain.
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.
| 96 | 2014 Semiannual Report § TIAA-CREF Life Funds |
Foreign currency transactions and translation: Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day using exchange rates obtained from an independent third party. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is reflected as a component of security gains and losses.
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. The Funds file income tax returns in U.S. federal and applicable state and local jurisdictions. A fund’s federal income tax returns are generally subject to examination for a period of three fiscal years after filed. State and local tax returns may be subject to examination for an additional period of time depending on the jurisdiction. Management has analyzed the Funds’ tax positions taken for all open federal income tax years 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 June 2013, the Financial Accounting Standards Board issued Accounting Standard Update No. 2013-08 Financial Services—Investment Companies (Topic 946): Amendments to the Scope, Measurement, and Disclosure Requirements (the “Update”). The Update modifies
| TIAA-CREF Life Funds § 2014 Semiannual Report | 97 |
| Notes to financial statements (unaudited) |
the criteria used in determining an investment company under U.S. GAAP and establishes certain measurement and disclosure requirements. The Update establishes that an entity regulated under the 1940 Act is automatically an investment company under U.S. GAAP. The Update is effective for interim and annual reporting periods beginning after December 15, 2013. The Funds adopted the Update for this semiannual report. The adoption of the Update did not have a material impact on the Funds’ financial statements and notes disclosures.
Note 2—valuation of investments
Portfolio investments are valued at fair value utilizing various valuation methods approved by the Board. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:
| • | Level 1 – quoted prices in active markets for identical securities |
| • | Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.) |
| • | Level 3 – significant unobservable inputs (including the 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.
| 98 | 2014 Semiannual Report § TIAA-CREF Life Funds |
| continued |
Debt securities: Debt securities will generally be valued using prices provided by a pricing service that may employ various indications of value including but not limited to broker-dealer quotations. Certain debt securities, other than money market instruments, are valued based on the most recent bid price or the equivalent quoted yield for such securities (or those of comparable maturity, quality and type). Debt securities are generally categorized 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, 2014, there were no material transfers between levels by the Funds.
As of June 30, 2014, 100% of the value of investments in Small-Cap Equity, Social Choice Equity and Balanced Funds was valued based on Level 1 inputs.
As of June 30, 2014, 100% of the value of investments in the Money Market Fund was valued based on Level 2 inputs.
| TIAA-CREF Life Funds § 2014 Semiannual Report | 99 |
| Notes to financial statements (unaudited) |
The following table summarizes the market value of the Funds’ investments as of June 30, 2014, based on the inputs used to value them:
| Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
|
|
||||||||||||||||
| Growth Equity |
||||||||||||||||
| Equity investments: |
||||||||||||||||
| Consumer discretionary |
$ | 10,324,202 | $ | 1,241,061 | $ | — | $ | 11,565,263 | ||||||||
| Health care |
9,958,836 | 891,770 | — | 10,850,606 | ||||||||||||
| Telecommunication services |
395,141 | 1,006,060 | — | 1,401,201 | ||||||||||||
| All other equity investments* |
39,240,829 | — | — | 39,240,829 | ||||||||||||
| Short-term investments |
526,709 | — | — | 526,709 | ||||||||||||
| Purchased options** |
1,217 | — | — | 1,217 | ||||||||||||
| Written options** |
(1,041 | ) | — | — | (1,041 | ) | ||||||||||
|
|
||||||||||||||||
| Total |
$ | 60,445,893 | $ | 3,138,891 | $ | — | $ | 63,584,784 | ||||||||
| Growth & Income |
||||||||||||||||
| Equity investments: |
||||||||||||||||
| Consumer discretionary |
$ | 21,205,457 | $ | 883,512 | $ | — | $ | 22,088,969 | ||||||||
| Consumer staples |
9,172,901 | 2,316,787 | — | 11,489,688 | ||||||||||||
| Energy |
12,316,745 | 479,580 | — | 12,796,325 | ||||||||||||
| Financials |
17,301,813 | 783,211 | — | 18,085,024 | ||||||||||||
| Health care |
20,429,601 | 1,818,859 | — | 22,248,460 | ||||||||||||
| Industrials |
15,347,242 | 280,247 | — | 15,627,489 | ||||||||||||
| Materials |
4,299,295 | 506,860 | — | 4,806,155 | ||||||||||||
| All other equity investments* |
32,399,992 | — | — | 32,399,992 | ||||||||||||
| Short-term investments |
4,027,268 | — | — | 4,027,268 | ||||||||||||
| Purchased options** |
1,920 | — | — | 1,920 | ||||||||||||
| Written options** |
(3,318 | ) | — | — | (3,318 | ) | ||||||||||
|
|
||||||||||||||||
| Total |
$ | 136,498,916 | $ | 7,069,056 | $ | — | $ | 143,567,972 | ||||||||
| Large-Cap Value |
||||||||||||||||
| Equity investments: |
||||||||||||||||
| Consumer discretionary |
$ | 8,662,440 | $ | 895,196 | $ | — | $ | 9,557,636 | ||||||||
| Consumer staples |
6,247,424 | 1,000,598 | — | 7,248,022 | ||||||||||||
| Financials |
26,067,878 | 142,111 | — | 26,209,989 | ||||||||||||
| Health care |
13,517,807 | 1,214,042 | — | 14,731,849 | ||||||||||||
| Industrials |
10,313,629 | — | 160 | 10,313,789 | ||||||||||||
| Materials |
2,604,238 | 420,553 | — | 3,024,791 | ||||||||||||
| Telecommunication services |
3,689,301 | 181,974 | — | 3,871,275 | ||||||||||||
| All other equity investments* |
33,230,771 | — | — | 33,230,771 | ||||||||||||
| Short-term investments |
4,536,739 | — | — | 4,536,739 | ||||||||||||
| Purchased options** |
925 | — | — | 925 | ||||||||||||
| Written options** |
(1,005 | ) | — | — | (1,005 | ) | ||||||||||
|
|
||||||||||||||||
| Total |
$ | 108,870,147 | $ | 3,854,474 | $ | 160 | $ | 112,724,781 | ||||||||
| 100 | 2014 Semiannual Report § TIAA-CREF Life Funds |
| continued |
| Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
|
|
||||||||||||||||
| Real Estate Securities |
||||||||||||||||
| Equity investments: |
||||||||||||||||
| Diversified real estate securities |
$ | — | $ | 462,575 | $ | — | $ | 462,575 | ||||||||
| Diversified REITs |
10,060,980 | 414,537 | — | 10,475,517 | ||||||||||||
| All other equity investments* |
100,612,445 | — | — | 100,612,445 | ||||||||||||
|
|
||||||||||||||||
| Total |
$ | 110,673,425 | $ | 877,112 | $ | — | $ | 111,550,537 | ||||||||
| Stock Index |
||||||||||||||||
| Equity investments: |
||||||||||||||||
| Health care |
$ | 38,278,454 | $ | — | $ | 177 | $ | 38,278,631 | ||||||||
| Telecommunication services |
6,395,034 | — | 1,789 | 6,396,823 | ||||||||||||
| All other equity Investments* |
251,741,783 | — | — | 251,741,783 | ||||||||||||
| Short-term investments |
7,782,716 | — | — | 7,782,716 | ||||||||||||
|
|
||||||||||||||||
| Total |
$ | 304,197,987 | $ | — | $ | 1,966 | $ | 304,199,953 | ||||||||
| International Equity |
||||||||||||||||
| Equity Investments: |
||||||||||||||||
| Asia |
$ | — | $ | 21,096,954 | $ | — | $ | 21,096,954 | ||||||||
| Europe |
— | 72,717,443 | — | 72,717,443 | ||||||||||||
| All other equity Investments* |
— | 3,706,832 | — | 3,706,832 | ||||||||||||
| Short-term investments |
1,716,794 | — | — | 1,716,794 | ||||||||||||
|
|
||||||||||||||||
| Total |
$ | 1,716,794 | $ | 97,521,229 | $ | — | $ | 99,238,023 | ||||||||
| Bond |
||||||||||||||||
| Bank loan obligations |
$ | — | $ | 1,869,072 | $ | — | $ | 1,869,072 | ||||||||
| Corporate bonds |
— | 81,517,830 | — | 81,517,830 | ||||||||||||
| Government bonds |
— | 83,521,371 | — | 83,521,371 | ||||||||||||
| Structured assets |
— | 36,012,116 | — | 36,012,116 | ||||||||||||
| Preferred stocks |
238,883 | — | — | 238,883 | ||||||||||||
| Short-term investments |
— | 749,960 | — | 749,960 | ||||||||||||
|
|
||||||||||||||||
| Total |
$ | 238,883 | $ | 203,670,349 | $ | — | $ | 203,909,232 | ||||||||
| * | For detailed categories, see the accompanying Summary portfolio of investments. |
| ** | Derivative instruments, excluding purchased options, are not reflected in the Summary portfolio of investments |
Note 3—derivative instruments
As defined by U.S. GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variables. Derivatives require little or no initial investment and permit or require net settlement. The Funds value derivatives at fair value.
| TIAA-CREF Life Funds § 2014 Semiannual Report | 101 |
| Notes to financial statements (unaudited) |
At June 30, 2014, the following Funds have invested in derivative contracts which are reflected in the Statements of Assets and Liabilities as follows:
| Asset derivatives | Liabilities derivatives | |||||||||||||||||
| Derivative contract | Location | Fair value amount |
Location | Fair value amount |
||||||||||||||
|
|
||||||||||||||||||
| Growth Equity Fund |
||||||||||||||||||
| Equity contracts |
Portfolio investments | $ | 1,217 | |||||||||||||||
| Equity contracts |
Written options | $ | 1,041 | |||||||||||||||
|
|
||||||||||||||||||
| Growth & Income Fund |
||||||||||||||||||
| Equity contracts |
Portfolio investments | 1,920 | ||||||||||||||||
| Equity contracts |
Written options | 3,318 | ||||||||||||||||
|
|
||||||||||||||||||
| Large-Cap Value Fund |
||||||||||||||||||
| Equity contracts |
Portfolio investments | 925 | ||||||||||||||||
| Equity contracts |
Written options | 1,005 | ||||||||||||||||
|
|
||||||||||||||||||
For the period ended June 30, 2014, the effect of derivative contracts on the Funds’ Statements of Operations was as follows:
| Derivative contract | Location | Realized gain (loss) |
Change in unrealized appreciation (depreciation) |
|||||||||
|
|
||||||||||||
| Growth Equity Fund |
||||||||||||
| Equity contracts |
Purchased options | $ | (1,052 | ) | $ | (330 | ) | |||||
| Equity contracts |
Written options | 2,533 | 598 | |||||||||
|
|
||||||||||||
| Growth & Income Fund |
||||||||||||
| Equity contracts |
Purchased options | (6,809 | ) | (1,206 | ) | |||||||
| Equity contracts |
Written options | 64,230 | (253 | ) | ||||||||
|
|
||||||||||||
| Large-Cap Growth Fund |
||||||||||||
| Equity contracts |
Purchased options | 2,001 | (45 | ) | ||||||||
| Equity contracts |
Written options | (501 | ) | (13 | ) | |||||||
|
|
||||||||||||
| Real Estate Securities Fund |
||||||||||||
| Equity contracts |
Written options | 8,253 | — | |||||||||
|
|
||||||||||||
| Small-Cap Equity Fund |
||||||||||||
| Equity contracts |
Futures transactions | 57,539 | — | |||||||||
|
|
||||||||||||
| Stock Index Fund |
||||||||||||
| Equity contracts |
Futures transactions | 161,624 | (39,752 | ) | ||||||||
|
|
||||||||||||
Futures contracts: The Funds are subject to equity price risk in the normal course of pursuing their investment objectives. The Funds use futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract, and variation margin receipts or payments are settled daily
| 102 | 2014 Semiannual Report § TIAA-CREF Life Funds |
| continued |
reflecting changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures, there is minimal counterparty credit risk to the 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, 2014, the Small-Cap Equity Fund and the Stock Index Fund had exposure to futures contracts, based on underlying notional values, generally between 0% and 3% of net assets.
There were no open future contracts as of June 30, 2014.
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. Purchased options are included in the summary portfolio of investments, and 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 that may exceed amounts recognized on the Statements of Assets and Liabilities. During the period ended June 30, 2014, the Growth Equity Fund, the Growth & Income Fund and the Large-Cap Value Fund had exposure to options, based on underlying nominal values, generally between 0% and 2% of net assets.
Purchased options outstanding as of June 30, 2014 were as follows:
| Number of contracts |
Value | |||||||
|
|
||||||||
| Growth Equity Fund |
||||||||
| First Solar Inc., Call, 7/19/14 at $72.5 |
4 | $ | 796 | |||||
| Tesla Motors Inc., Call 7/19/14 at $250 |
1 | 421 | ||||||
|
|
||||||||
| Total |
5 | $ | 1,217 | |||||
|
|
||||||||
| Growth & Income Fund |
||||||||
| Fidelity National Financial Inc., Put, 7/19/14 at $32 |
12 | $ | 300 | |||||
| Phillips, Put, 7/19/14 at $80 |
12 | 1,620 | ||||||
|
|
||||||||
| Total |
24 | $ | 1,920 | |||||
|
|
||||||||
| Large-Cap Value Fund |
||||||||
| Walgreen Co., Call, 8/16/14 at $77.5 |
5 | $ | 925 | |||||
|
|
||||||||
| Total |
5 | $ | 925 | |||||
|
|
||||||||
| TIAA-CREF Life Funds § 2014 Semiannual Report | 103 |
| Notes to financial statements (unaudited) |
Written options outstanding as of June 30, 2014 were as follows:
| Number of contracts |
Value | |||||||
|
|
||||||||
| Growth Equity Fund |
||||||||
| First Solar Inc, Call, 7/19/14 at $75 |
4 | $ | (488 | ) | ||||
| First Solar Inc, Call, 7/19/14 at $80 |
4 | (188 | ) | |||||
| Tesla Motors Inc., Call, 7/19/14 at $265 |
1 | (148 | ) | |||||
| Tesla Motors Inc., Call, 7/19/14 at $260 |
1 | (217 | ) | |||||
|
|
||||||||
| Total |
10 | $ | (1,041 | ) | ||||
|
|
||||||||
| Growth & Income Fund |
||||||||
| Dow Chemical Co., Put, 7/3/14 at $50 |
15 | $ | (45 | ) | ||||
| F5 Networks Inc., Call, 7/3/14 at $112 |
6 | (480 | ) | |||||
| Kansas City Southern, Call, 7/19/14 at $115 |
7 | (438 | ) | |||||
| Netflix Inc., Put, 7/3/14 at $425 |
2 | (90 | ) | |||||
| Restoration Hardware, Call, 7/19/14 at $95 |
6 | (1,200 | ) | |||||
| Stratasys Ltd., Call, 7/19/14 at $115 |
3 | (930 | ) | |||||
| Synaptics Inc., Put, 7/19/14 at $75 |
9 | (135 | ) | |||||
|
|
||||||||
| Total |
48 | $ | (3,318 | ) | ||||
|
|
||||||||
| Large-Cap Value Fund |
||||||||
| Walgreen Co., Call, 8/16/14 at $82.5 |
5 | $ | (400 | ) | ||||
| Walgreen Co., Call, 8/16/14 at $80 |
5 | (605 | ) | |||||
|
|
||||||||
| Total |
10 | $ | (1,005 | ) | ||||
|
|
||||||||
Transactions in written options and related premiums received during the period ended June 30, 2014 were as follows:
| Number of contracts |
Premiums | |||||||
|
|
||||||||
| Growth Equity Fund |
||||||||
| Outstanding at beginning of period |
— | $ | — | |||||
| Written |
71 | 6,944 | ||||||
| Purchased |
(22 | ) | (885 | ) | ||||
| Exercised |
(4 | ) | (512 | ) | ||||
| Expired |
(35 | ) | (3,908 | ) | ||||
|
|
||||||||
| Outstanding at end of period |
10 | $ | 1,639 | |||||
|
|
||||||||
| Growth & Income Fund |
||||||||
| Outstanding at beginning of period |
— | $ | — | |||||
| Written |
1,566 | 96,933 | ||||||
| Purchased |
(76 | ) | (10,668 | ) | ||||
| Exercised |
(288 | ) | (14,234 | ) | ||||
| Expired |
(1,154 | ) | (68,966 | ) | ||||
|
|
||||||||
| Outstanding at end of period |
48 | $ | 3,065 | |||||
|
|
||||||||
| 104 | 2014 Semiannual Report § TIAA-CREF Life Funds |
| continued |
| Number of contracts |
Premiums | |||||||
|
|
||||||||
| Large-Cap Value Fund |
||||||||
| Outstanding at beginning of period |
— | $ | — | |||||
| Written |
84 | 4,221 | ||||||
| Purchased |
(50 | ) | (2,276 | ) | ||||
| Exercised |
(23 | ) | (897 | ) | ||||
| Expired |
(1 | ) | (56 | ) | ||||
|
|
||||||||
| Outstanding at end of period |
10 | $ | 992 | |||||
|
|
||||||||
| Real Estate Securities Fund |
||||||||
| Outstanding at beginning of period |
— | $ | — | |||||
| Written |
75 | 8,253 | ||||||
| Purchased |
— | — | ||||||
| Exercised |
— | — | ||||||
| Expired |
(75 | ) | (8,253 | ) | ||||
|
|
||||||||
| Outstanding at end of period |
— | $ | — | |||||
|
|
||||||||
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 the Funds pay Advisors for its costs in providing certain administrative and compliance services to the Funds.
Teachers Personal Investors Services, Inc. (“TPIS”), which is a wholly owned indirect subsidiary of TIAA, distributes the Funds’ shares. Under the terms of the distribution agreement, TPIS is not compensated. TPIS does not currently enter into agreements, or otherwise pay, other intermediaries to sell shares of 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.
| TIAA-CREF Life Funds § 2014 Semiannual Report | 105 |
| Notes to financial statements (unaudited) |
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, 2014, 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 |
0.46% | 0.53% | ||||||
| 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% | ||||||
| Balanced |
0.10% | 0.10% | ||||||
|
|
||||||||
|
|
||||||||
| * | Maximum expense amounts reflect all 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, 2015. 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, 2014, there were no redemptions.
The following is the percentage of Fund shares owned by affiliates and the Balanced fund as of June 30, 2014:
| Underlying Fund | Investments in funds held by TIAA-CREF Life |
Investments in funds held by TIAA |
Investments in funds held by Life Balanced |
Total | ||||||||||||
|
|
||||||||||||||||
| Growth Equity | 97 | % | — | % | 3 | % | 100 | % | ||||||||
| Growth & Income | 83 | 16 | 1 | 100 | ||||||||||||
| Large-Cap Value | 62 | 36 | 2 | 100 | ||||||||||||
| Real Estate Securities | 56 | 44 | — | 100 | ||||||||||||
| Small-Cap Equity | 99 | — | 1 | 100 | ||||||||||||
| Social Choice Equity | 71 | 29 | — | 100 | ||||||||||||
| Stock Index | 99 | — | 1 | 100 | ||||||||||||
| International Equity | 98 | — | 2 | 100 | ||||||||||||
| Bond | 58 | 38 | 4 | 100 | ||||||||||||
| Money Market | 100 | — | — | 100 | ||||||||||||
| Balanced | 43 | 57 | — | 100 | ||||||||||||
|
|
||||||||||||||||
| 106 | 2014 Semiannual Report § TIAA-CREF Life Funds |
| continued |
Investments in other investment companies advised by Advisors are deemed to be affiliated investments. The Balanced Fund invests its assets in shares of the affiliated TIAA-CREF Life Funds. Information regarding transactions with affiliated companies is as follows:
| Issue | Value at 2014 |
Purchases cost |
Sales proceeds |
Realized (loss) |
Dividend income |
Value at 2014 |
||||||||||||||||||
|
|
||||||||||||||||||||||||
| TIAA-CREF Life Balanced Fund* |
||||||||||||||||||||||||
| TIAA-CREF Life Growth Equity | $ | — | $ | 1,645,630 | $ | 33,401 | $ | 395 | $ | — | $ | 1,708,160 | ||||||||||||
| TIAA-CREF Life Growth & Income | — | 1,771,476 | 23,026 | 878 | — | 1,884,769 | ||||||||||||||||||
| TIAA-CREF Life Large-Cap Value | — | 1,579,536 | 36,820 | 830 | — | 1,664,629 | ||||||||||||||||||
| TIAA-CREF Life Real Estate Securities | — | 348,614 | 3,862 | 133 | — | 375,887 | ||||||||||||||||||
| TIAA-CREF Life Small Cap Equity | — | 367,357 | 9,008 | 110 | — | 377,657 | ||||||||||||||||||
| TIAA-CREF Life Stock Index | — | 1,407,050 | 13,532 | 467 | — | 1,502,475 | ||||||||||||||||||
| TIAA-CREF Life International Equity | — | 1,833,679 | 54,419 | 1,414 | — | 1,843,575 | ||||||||||||||||||
| TIAA-CREF Life Bond | — | 9,022,319 | 66,248 | (163 | ) | 11 | 9,148,716 | |||||||||||||||||
|
|
||||||||||||||||||||||||
| $ | — | $ | 17,975,661 | $ | 240,316 | $ | 4,064 | $ | 11 | $ | 18,505,868 | |||||||||||||
|
|
||||||||||||||||||||||||
| * | The Fund commenced operations on January 31, 2014. |
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; any additional collateral required due to changes in security values is delivered to the Fund the next business day. Cash collateral received by the Fund will generally be invested in high-quality short-term instruments or in one or more funds maintained by the securities lending agent (“Agent”) for the purpose of investing cash collateral. The value of the loaned securities and the liability to return the cash collateral received are reflected in the Statements of Assets and Liabilities. Securities lending income recognized by the Funds consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and compensation to the Agent. Such income is reflected separately in the Statements of Operations. In lending its securities, a Fund bears the market risk with respect to the investment of collateral and the risk the Agent may default on its contractual obligations to the Fund. The Agent bears the risk that the borrower may default on its obligation to return the loaned securities as the Agent is contractually obligated to indemnify the Fund if at the time of a default by a borrower some or all of the loan securities have not been returned.
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-issued or delayed-delivery basis may be settled a month or more after trade date; interest income is not accrued until settlement date. At the time 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.
| TIAA-CREF Life Funds § 2014 Semiannual Report | 107 |
| Notes to financial statements (unaudited) |
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.
Net unrealized appreciation (depreciation): At June 30, 2014, net unrealized appreciation (depreciation) based on 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 |
$ | 50,355,704 | $ | 13,514,739 | $ | (284,618 | ) | $ | 13,230,121 | |||||||
| Growth & Income |
110,924,979 | 33,006,689 | (360,378 | ) | 32,646,311 | |||||||||||
| Large-Cap Value |
96,689,778 | 18,574,482 | (2,538,474 | ) | 16,036,008 | |||||||||||
| Real Estate Securities |
94,704,771 | 17,754,997 | (909,231 | ) | 16,845,766 | |||||||||||
| Small-Cap Equity |
49,085,143 | 9,323,448 | (1,213,570 | ) | 8,109,878 | |||||||||||
| Social Choice Equity |
47,363,318 | 23,459,060 | (1,676,085 | ) | 21,782,975 | |||||||||||
| Stock Index |
190,967,355 | 123,441,794 | (10,209,196 | ) | 113,232,598 | |||||||||||
| International Equity |
92,382,462 | 9,219,257 | (2,363,696 | ) | 6,855,561 | |||||||||||
| Bond |
200,727,795 | 4,202,606 | (1,021,169 | ) | 3,181,437 | |||||||||||
| Balanced |
17,740,330 | 765,538 | — | 765,538 | ||||||||||||
|
|
||||||||||||||||
Purchases and sales: Purchases and sales of securities (other than short-term instruments) for all of the Funds for the period ended June 30, 2014 were as follows:
| Fund | Non-U.S. government purchases |
U.S. purchases |
Non-U.S. sales |
U.S. government |
||||||||||||
|
|
||||||||||||||||
| Growth Equity |
$ | 32,774,794 | $ | — | $ | 32,727,679 | $ | — | ||||||||
| Growth & Income |
67,089,840 | — | 67,379,932 | — | ||||||||||||
| Large-Cap Value |
32,293,312 | — | 33,311,968 | — | ||||||||||||
| Real Estate Securities |
35,116,662 | — | 31,965,735 | — | ||||||||||||
| Small-Cap Equity |
25,349,072 | — | 24,771,488 | — | ||||||||||||
| Social Choice Equity |
5,703,373 | — | 4,943,278 | — | ||||||||||||
| Stock Index |
16,403,034 | — | 17,736,092 | — | ||||||||||||
| International Equity |
53,641,828 | — | 55,156,976 | — | ||||||||||||
| Bond |
83,315,957 | 145,392,908 | 54,861,742 | 154,723,342 | ||||||||||||
| Balanced |
20,721,445 | — | 2,989,780 | — | ||||||||||||
|
|
||||||||||||||||
| 108 | 2014 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, 2013 was as follows:
| 2013 | ||||||||||||
| Fund | Ordinary income |
Long-term capital gains |
Total | |||||||||
|
|
||||||||||||
| Growth Equity |
$ | 146,110 | $ | — | $ | 146,110 | ||||||
| Growth & Income |
6,093,318 | 6,009,485 | 12,102,803 | |||||||||
| Large-Cap Value |
2,496,381 | 4,871,181 | 7,367,562 | |||||||||
| Real Estate Securities |
1,755,633 | — | 1,755,633 | |||||||||
| Small-Cap Equity |
4,470,648 | 3,489,072 | 7,959,720 | |||||||||
| Social Choice Equity |
925,671 | — | 925,671 | |||||||||
| Stock Index |
4,754,638 | 426,066 | 5,180,704 | |||||||||
| International Equity |
2,126,383 | — | 2,126,383 | |||||||||
| Bond |
4,725,828 | 1,075,524 | 5,801,352 | |||||||||
| Money Market |
3,395 | — | 3,395 | |||||||||
|
|
||||||||||||
The tax character of the fiscal year 2014 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 2014. A new facility was entered into on June 24, 2014 expiring June 23, 2015. Certain affiliated accounts and mutual funds, each of which is managed by Advisors, or an affiliate of Advisors, also participate in this facility. An annual commitment fee for the credit facility is borne by the participating accounts and mutual funds on a pro rata basis. Interest associated with any borrowing under the facility is charged to the borrowing accounts or 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 year ended June 30, 2014, 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 § 2014 Semiannual Report | 109 |
| Approval or renewal of the investment management agreement (unaudited) |
Board approval and renewal of the investment management agreement for the TIAA-CREF Life Funds
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 and subsequently annually renew the investment management agreement (the “Agreement”) between Teachers Advisors, Inc. (“TAI”) and the Trust on behalf 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 approval and renewal process
The Board held meetings: (1) on December 3, 2013, at which it considered the initial approval of the Agreement with respect to the new TIAA-CREF Life Balanced Fund (the “Balanced Fund”); and (2) on March 14, 2014 and March 27, 2014, at which it considered the annual renewal of the Agreement with respect to each other Fund. As part of this process, the Board delegated certain tasks to its Operations Committee. Among these tasks, the Operations Committee worked with TAI, other Board members and legal counsel to the Trustees to develop guidelines and specific requests relating to the types of information to be provided to the Board in connection with the contract approval and renewals. The Operations Committee also had worked with TAI to schedule and report on various follow-up items throughout the prior year that were requested by the Committee and the Board during the 2013 renewal process. The Operations Committee, along with other Board Committees, as applicable, had reviewed such guidelines and follow-up requests in consultation with TAI representatives and input from other Trustees, legal counsel to the Trustees and legal counsel to TAI and the Trust, 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”). 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
| 110 | 2014 Semiannual Report § TIAA-CREF Life Funds |
rates, total expense ratios, short-term and long-term investment performance and, as applicable, portfolio turnover rates and brokerage commission costs. Note that no performance or portfolio data were provided by Lipper or TAI with respect to the Balanced Fund because it was not yet operational. 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 with similar investment objectives and strategies that underlie variable products, each of which was selected by Lipper, and, in the case of the 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 Board also requested and reviewed various information provided by TAI to facilitate the Trustees’ evaluation of the reasonableness of any profits earned or projected to be earned by TAI with respect to its services to each Fund pursuant to the Agreement. In this connection, the Board recognized that different Trustees could, and likely would, give different weight to different factors when evaluating the profits, if any, realized or anticipated to be realized by TAI, which is also true of their assessment of each Fund’s management fee rate and other aspects of the proposed approval or renewal of the Agreement.
In advance of the Board meetings held on December 3, 2013, March 14, 2014 and March 27, 2014, 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 approve or 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 certain Board-specified criteria, 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
| TIAA-CREF Life Funds § 2014 Semiannual Report | 111 |
| Approval or renewal of the investment management agreement (unaudited) |
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 or anticipated to be 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 approve or renew the Agreement.
In considering whether to approve or renew the Agreement with respect to each Fund, the Board reviewed various factors with 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, the profits realized or potential profits to be realized (if any) by TAI and its affiliates from their relationship with the Fund and recently implemented changes to the methodology utilized to allocate costs to the Funds; (4) fees charged by other advisers; (5) the extent to which economies of scale have been realized or are anticipated to be realized as the Fund grows; (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 approve or renew the Agreement.
In reaching its decisions regarding the approval or 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 approval or 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 approval or renewal determinations on a Fund-by-Fund basis. In deciding whether to approve or 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 approve or renew the Agreement for each Fund. At its meeting on December 3, 2013, the Board voted unanimously to approve the Agreement for the Balanced Fund. At its meeting on March 27, 2014, the Board voted unanimously to renew the Agreement for each other 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.
| 112 | 2014 Semiannual Report § TIAA-CREF Life Funds |
| continued |
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 or its affiliates also manage various accounts of the College Retirement Equities Fund (“CREF”), the TIAA-CREF Funds and 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, placing orders to buy and sell securities for the Funds’ investment portfolios and, with respect to the Balanced Fund, which is a fund of funds that invests its assets in other investment companies managed by TAI and potentially in other affiliated and unaffiliated investment companies or pools, referred to as “underlying funds,” selecting underlying funds and allocating the Balanced Fund’s assets among the underlying funds; 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 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 with respect to the Funds that had already commenced operations.
The Board also considered, among other factors, the performance of each of the Funds, as discussed below (except the Balanced Fund). 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 (except the new Balanced 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 each Fund before any reductions for fees or expenses. This analysis considered the impact of net asset rounding and excluded the effects of fair valuation, securities lending and class action litigation on each 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 certain other relevant factors) and the Funds generally 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
| TIAA-CREF Life Funds § 2014 Semiannual Report | 113 |
| Approval or renewal of the investment management agreement (unaudited) |
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 projected financial and profitability data relating to TAI for the calendar year 2013 with respect to the new Balanced Fund. The Board also considered financial and profitability data relating to TAI for the other Funds based upon the cost allocation methodology utilized by TAI and its affiliates in 2013, as well as the new methodology to be utilized in 2014. 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 which permit TAI to maintain and improve the quality of services provided to the Funds. The Board considered that TAI had earned profits with respect to most of the Funds under the Agreement for the one-year period ended December 31, 2013 but that TAI did not expect this trend to continue under the new cost allocation methodology. Additionally, the Board noted that TAI was not projected to earn profits on the new Balanced Fund in the near future; but that TAI could have indirect earnings or losses related to the Balanced Fund’s investment in affiliated underlying funds also managed by TAI. The Board also acknowledged the permanent reduction in the contractual annual management fee rate of the Small-Cap Equity Fund from 0.48% to 0.46% of average daily net assets starting May 1, 2014. With respect to those Funds for which the Agreement was profitable to TAI in 2013, 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, as analyzed by Lipper. The Board determined that the actual management fee rates charged to a Fund under the Agreement typically were lower than the management fee rates charged to 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 that underlie variable products. Additionally, the Board also 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
| 114 | 2014 Semiannual Report § TIAA-CREF Life Funds |
| continued |
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 considered that while some of the Funds were profitable to TAI during 2013, the change in cost allocation methodology applied to the Funds in 2014 would likely lead to future TAI losses on all of the Funds. Based on all factors considered, the Board concluded that the Funds’ fee schedules were within an acceptable range in light of current economies of scale considerations and current asset levels. The Board also considered TAI’s implementation of a permanent, contractual advisory fee rate reduction on the Small-Cap Equity Fund, as previously noted above, starting May 1, 2014.
Fee comparison with other TAI clients
The Board considered that TAI and its affiliates provide similar investment management services to other investment companies. The Board also considered that the management fee rate of the Balanced Fund matched the contractual fee rates of other funds of funds managed by TAI like the Lifecycle, Lifecycle Index and Lifestyle Funds. 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 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 investment companies, 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.
| TIAA-CREF Life Funds § 2014 Semiannual Report | 115 |
| Approval or renewal of the investment management agreement (unaudited) |
Fund-by-fund factors
The Board considered the following specific factors (among others) in connection with its determination to approve or 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 are ended December 31, 2013. Under the Morningstar rating system, 5 stars is the highest (best) rating category and 1 star is the lowest (worst) rating category. The term “gross performance” as utilized below means a Fund’s performance without any reductions for fees or expenses.
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 2013 under the Agreement. For reference, one basis point is equal to 0.01%.
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 actual management fees were each in the 1st quintile of the group of comparable funds selected by Lipper for expense comparison purposes (“Expense Group”) and the universe of comparable funds selected by Lipper for expense comparison purposes (“Expense Universe”). |
| • | The Fund was in the 1st, 1st, 2nd and 2nd quintiles of the group of comparable funds selected by Lipper for performance comparison purposes (“Performance Group”) and the universe of comparable funds selected by Lipper for performance comparison purposes (“Performance Universe”) for each of the one-, three-, five- and ten-year periods, respectively. |
| • | The Fund received an Overall Morningstar Rating of 4 stars. |
| • | TAI earned a net profit 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 actual management fees were in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 2nd, 1st, 3rd and 1st quintiles of its Performance Group for each of the one-, three-, five- and ten year periods, respectively. The Fund was in the 2nd quintile of its Performance Universe for the one-year period and in the 1st quintile of is Performance Universe for the three-, five- and ten-year periods. |
| • | The Fund received an Overall Morningstar Rating of 5 stars. |
| • | TAI earned a net profit with respect to its services to the Fund for the one-year period. |
| 116 | 2014 Semiannual Report § TIAA-CREF Life Funds |
| continued |
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 actual management fees were each in the 1st quintile of its Expense Group and in the 1st and 2nd quintiles of its Expense Universe, respectively. |
| • | The Fund was in the 3rd quintile of its Performance Group for the one-, three- and five-year periods. The Fund ranked second out of five within its Performance Group for the ten-year period. The Fund was in the 3rd quintile of its Performance Universe for the one-, three- and five-year periods and the 2nd quintile of its Performance Universe for the ten-year period. |
| • | 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. |
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 actual management fees were each in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 3rd quintile of its Performance Group for the one-year period and in the 4th quintile of its Performance Group for each of the three-, five- and ten-year periods. The Fund was in the 3rd, 2nd, 3rd 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 0.46% of average daily net assets, which reflects a permanent, contractual reduction in the Fund’s annual management fee rate from 0.48% of average daily net assets beginning May 1, 2014. |
| • | The Fund’s total expenses and actual management fees were in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 2nd, 4th, 4th and 3rd quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 2nd, 4th, 3rd and 3rd quintiles of its Performance Universe for each of 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. |
| TIAA-CREF Life Funds § 2014 Semiannual Report | 117 |
| Approval or renewal of the investment management agreement (unaudited) |
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 actual management fees were each in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 2nd, 4th, 2nd and 1st quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 2nd, 3rd, 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. |
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 actual management fees were each in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund did not have a Performance Group. 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 as compared to its benchmark, the Russell 3000® Index, was 0 and +2 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 actual management fees were each in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 1st quintile for the one-year period and in the 2nd quintile for the three-, five- and ten-year periods of its Performance Group. The Fund was in the 1st, 3rd, 2nd and 3rd quintiles of its Performance Universe for each of 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. |
| 118 | 2014 Semiannual Report § TIAA-CREF Life Funds |
| concluded |
Balanced Fund
| • | The Fund’s annual contractual management fee rate is 0.10% of average daily net assets. |
| • | The Fund’s total expenses and actual management fees were in the 2nd and 1st quintiles of its Expense Group, respectively, and the 3rd and 1st quintiles of its Expense Universe, respectively. |
Bond Fund
| • | The Fund’s annual contractual management fee rate is 0.30% of average daily net assets. |
| • | The Fund’s total expenses and actual management fees were each in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Fund was in the 4th, 3rd, 5th and 3rd quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Fund was in the 2nd, 2nd, 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. |
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 actual management fees were each in the 2nd quintile of its Expense Group and in the 1st quintile of its Expense Universe. |
| • | The Fund was in the 1st quintile of its Performance Group and its Performance Universe for the one-, three-, five- and ten-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. |
| • | In order to avoid a negative yield, the Fund’s service providers have voluntarily waived or reimbursed over $13,000 in fees through December 31, 2013. |
Based primarily on the foregoing factors and considerations, the Board initially approved or renewed the Agreement for each Fund.
| TIAA-CREF Life Funds § 2014 Semiannual Report | 119 |
| Additional information about index providers (unaudited) |
Russell Indexes
The Russell 1000® Index, the Russell 2000® Index, the Russell 3000® Index, the Russell 1000 Value Index, and the Russell 1000 Growth Index are trademarks/service marks of the Russell Investment Group. The Russell Investment Group is the owner of the copyrights relating to the Russell indexes and is the source and owner of the data contained or reflected in the performance values relating to the Russell indexes. The funds are not promoted by, nor in any way affiliated with, the Russell Investment Group. The Russell Investment Group is not responsible for and has not reviewed the funds nor any associated literature or publications and the Russell Investment Group makes no representation or warranty, express or implied, as to their accuracy, or completeness.
Russell reserves the right, at any time and without notice, to alter, amend, terminate or in any way change the Russell Indexes. Russell has no obligation to take the needs of any particular fund or its participants or any other product or person into consideration in determining, composing or calculating any of the Russell Indexes.
Russell’s publication of the Russell Indexes in no way suggests or implies an opinion by Russell as to the attractiveness or appropriateness of investment in any or all securities upon which the Russell Indexes are based. RUSSELL MAKES NO REPRESENTATION, WARRANTY OR GUARANTEE AS TO THE ACCURACY, COMPLETENESS, RELIABILITY OR OTHERWISE OF THE RUSSELL INDEXES OR ANY DATA INCLUDED IN THE RUSSELL INDEXES. RUSSELL MAKES NO REPRESENTATION, WARRANTY OR GUARANTEE REGARDING THE USE OR THE RESULTS OF USE OR THE RUSSELL INDEXES OR ANY DATA INCLUDED THEREIN, OR ANY SECURITIES (OR COMBINATION THEREOF) COMPRISING THE RUSSELL INDEXES. RUSSELL MAKES NO OTHER EXPRESS OR IMPLIED WARRANTY, AND EXPRESSLY DISCLAIMS ANY WARRANTY, OF ANY KIND, INCLUDING WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE RUSSELL INDEX(ES) OR ANY DATA OR ANY SECURITY (OR COMBINATION THEREOF) INCLUDED THEREIN.
Standard & Poor’s Index
The S&P 500® Index is a trademark of The McGraw-Hill Companies, Inc. and has been licensed for use by the fund. The fund is not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of investing in the fund.
MSCI Indexes
The funds are not sponsored, endorsed, sold or promoted by MSCI Inc. (“MSCI”), any of its affiliates, any of its information providers or any other third party involved in, or related to, compiling, computing or creating any MSCI index (collectively, the “MSCI Parties”). The MSCI indexes are the exclusive property of MSCI. MSCI and the MSCI index names are service mark(s) of MSCI or its affiliates and have been licensed for use for certain purposes by Teachers Advisors, Inc. None of the MSCI parties makes any representation or warranty, express or implied, to the issuer or
| 120 | 2014 Semiannual Report § TIAA-CREF Life Funds |
owners of these funds or any other person or entity regarding the advisability of investing in funds generally or in these funds particularly or the ability of any MSCI index to track corresponding stock market performance. MSCI or its affiliates are the licensors of certain trademarks, service marks and trade names and of the MSCI indexes which are determined, composed and calculated by MSCI without regard to these funds or the issuer or owners of these funds or any other person or entity. None of the MSCI parties has any obligation to take the needs of the issuer or owners of these funds or any other person or entity into consideration in determining, composing or calculating the MSCI indexes. None of the MSCI parties is responsible for or has participated in the determination of the timing of, prices at, or quantities of these funds to be issued or in the determination or calculation of the equation by or the consideration into which these funds is redeemable. Further, none of the MSCI parties has any obligation or liability to the issuer or owners of these funds or any other person or entity in connection with the administration, marketing or offering of these funds.
ALTHOUGH MSCI SHALL OBTAIN INFORMATION FOR INCLUSION IN OR FOR USE IN THE CALCULATION OF THE MSCI INDEXES FROM SOURCES THAT MSCI CONSIDERS RELIABLE, NONE OF THE MSCI PARTIES WARRANTS OR GUARANTEES THE ORIGINALITY, ACCURACY AND/OR THE COMPLETENESS OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. NONE OF THE MSCI PARTIES MAKES ANY WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE ISSUER OF THESE FUNDS, OWNERS OF THESE FUNDS, OR ANY OTHER PERSON OR ENTITY, FROM THE USE OF ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. NONE OF THE MSCI PARTIES SHALL HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS OR INTERRUPTIONS OF OR IN CONNECTION WITH ANY MSCI INDEX OR ANY DATA INCLUDED THEREIN. FURTHER, NONE OF THE MSCI PARTIES MAKES ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND, AND THE MSCI PARTIES HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO EACH MSCI INDEX AND ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL ANY OF THE MSCI PARTIES HAVE ANY LIABILITY FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR ANY OTHER DAMAGES (INCLUDING LOST PROFITS) EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
No purchaser, seller or holder of these securities, products or funds, or any other person or entity, should use or refer to any MSCI trade name, trademark or service mark to sponsor, endorse, market or promote these securities without first contacting MSCI to determine whether MSCI’s permission is required. Under no circumstances may any person or entity claim any affiliation with MSCI without the prior written permission of MSCI.
| TIAA-CREF Life Funds § 2014 Semiannual Report | 121 |
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©2014 Teachers Insurance and Annuity Association of America—College Retirement Equities Fund (TIAA-CREF), 730 Third Avenue, New York, NY 10017-3206.
|
730 Third Avenue New York, NY 10017-3206 |
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| C17713 | A10937 (8/14) |
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, 2014
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 100.0% |
| |||||||
| AUTOMOBILES & COMPONENTS - 0.6% |
||||||||
| 1,453 |
*,e,p | Tesla Motors, Inc |
$ | 348,807 | ||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
348,807 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 4.3% |
||||||||
| 4,050 |
3M Co |
580,122 | ||||||
| 2,968 |
Cummins, Inc |
457,933 | ||||||
| 1,521 |
* | Middleby Corp |
125,817 | |||||
| 1,438 |
Precision Castparts Corp |
362,951 | ||||||
| 3,954 |
Roper Industries, Inc |
577,324 | ||||||
| 2,359 |
W.W. Grainger, Inc |
599,823 | ||||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
2,703,970 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 3.0% |
||||||||
| 26,807 |
Nielsen Holdings NV |
1,297,727 | ||||||
| 9,863 |
* | Verisk Analytics, Inc |
591,977 | |||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
1,889,704 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 4.5% |
||||||||
| 2,123 |
Garmin Ltd |
129,291 | ||||||
| 1,975 |
* | GoPro, Inc |
80,086 | |||||
| 9,019 |
Luxottica Group S.p.A. |
522,252 | ||||||
| 3,725 |
LVMH Moet Hennessy Louis Vuitton S.A. |
718,809 | ||||||
| 5,207 |
* | Michael Kors Holdings Ltd |
461,601 | |||||
| 11,784 |
Nike, Inc (Class B) |
913,849 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
2,825,888 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 3.6% |
||||||||
| 326 |
* | Chipotle Mexican Grill, Inc (Class A) |
193,158 | |||||
| 3,327 |
Las Vegas Sands Corp |
253,584 | ||||||
| 8,810 |
Marriott International, Inc (Class A) |
564,721 | ||||||
| 16,648 |
Starbucks Corp |
1,288,222 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
2,299,685 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 6.5% |
||||||||
| 2,510 |
* | Affiliated Managers Group, Inc |
515,554 | |||||
| 5,350 |
Ameriprise Financial, Inc |
642,000 | ||||||
| 10,514 |
Blackstone Group LP |
351,588 | ||||||
| 2,202 |
CBOE Holdings, Inc |
108,361 | ||||||
| 4,730 |
IntercontinentalExchange Group, Inc |
893,497 | ||||||
| 3,766 |
McGraw-Hill Financial, Inc |
312,691 | ||||||
| 14,529 |
Moody’s Corp |
1,273,612 | ||||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
4,097,303 | |||||||
|
|
|
|||||||
| ENERGY - 4.2% |
||||||||
| 4,381 |
Apache Corp |
440,816 | ||||||
| 979 |
* | Cheniere Energy, Inc |
70,195 | |||||
| 9,694 |
EOG Resources, Inc |
1,132,841 | ||||||
| 10,752 |
Halliburton Co |
763,499 | ||||||
| 4,291 |
Williams Cos, Inc |
249,779 | ||||||
|
|
|
|||||||
| TOTAL ENERGY |
2,657,130 | |||||||
|
|
|
|||||||
1
TIAA-CREF LIFE FUNDS - Growth Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| FOOD, BEVERAGE & TOBACCO - 0.8% |
||||||||
| 3,789 |
Keurig Green Mountain, Inc |
$ | 472,147 | |||||
| 529 |
* | Monster Beverage Corp |
37,575 | |||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
509,722 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 1.4% |
||||||||
| 14,809 |
Abbott Laboratories |
605,688 | ||||||
| 5,698 |
* | Cerner Corp |
293,903 | |||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
899,591 | |||||||
|
|
|
|||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 1.9% |
||||||||
| 15,856 |
Estee Lauder Cos (Class A) |
1,177,467 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
1,177,467 | |||||||
|
|
|
|||||||
| MATERIALS - 5.2% |
||||||||
| 5,583 |
LyondellBasell Industries AF S.C.A |
545,180 | ||||||
| 12,426 |
Monsanto Co |
1,550,019 | ||||||
| 2,476 |
PPG Industries, Inc |
520,331 | ||||||
| 2,955 |
Sherwin-Williams Co |
611,419 | ||||||
| 2,858 |
* | Trinseo S.A. |
59,447 | |||||
|
|
|
|||||||
| TOTAL MATERIALS |
3,286,396 | |||||||
|
|
|
|||||||
| MEDIA - 4.1% |
||||||||
| 16,849 |
Comcast Corp (Class A) |
904,454 | ||||||
| 4,215 |
* | Discovery Communications, Inc (Class A) |
313,090 | |||||
| 3,810 |
* | Tribune Co |
324,041 | |||||
| 12,475 |
Walt Disney Co |
1,069,607 | ||||||
|
|
|
|||||||
| TOTAL MEDIA |
2,611,192 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 15.8% |
||||||||
| 1,772 |
* | Alexion Pharmaceuticals, Inc |
276,875 | |||||
| 11,353 |
* | Alkermes plc |
571,397 | |||||
| 3,605 |
* | Biogen Idec, Inc |
1,136,693 | |||||
| 14,804 |
Bristol-Myers Squibb Co |
718,142 | ||||||
| 20,998 |
* | Celgene Corp |
1,803,308 | |||||
| 7,239 |
Eli Lilly & Co |
450,049 | ||||||
| 19,720 |
* | Gilead Sciences, Inc |
1,634,985 | |||||
| 2,678 |
* | Illumina, Inc |
478,130 | |||||
| 12,204 |
Novo Nordisk AS |
563,251 | ||||||
| 5,329 |
* | NPS Pharmaceuticals, Inc |
176,123 | |||||
| 8,398 |
Perrigo Co plc |
1,224,092 | ||||||
| 1,728 |
Questcor Pharmaceuticals, Inc |
159,823 | ||||||
| 3,483 |
* | Salix Pharmaceuticals Ltd |
429,628 | |||||
| 4,188 |
Shire Ltd |
328,519 | ||||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
9,951,015 | |||||||
|
|
|
|||||||
| REAL ESTATE - 0.7% |
||||||||
| 12,848 |
* | CBRE Group, Inc |
411,650 | |||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
411,650 | |||||||
|
|
|
|||||||
| RETAILING - 5.5% |
||||||||
| 3,957 |
* | Amazon.com, Inc |
1,285,154 | |||||
| 8,539 |
Expedia, Inc |
672,532 | ||||||
| 11,251 |
Home Depot, Inc |
910,881 | ||||||
| 508 |
* | Priceline.com, Inc |
611,124 | |||||
|
|
|
|||||||
| TOTAL RETAILING |
3,479,691 | |||||||
|
|
|
|||||||
2
TIAA-CREF LIFE FUNDS - Growth Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.6% |
||||||||
| 2,496 |
ARM Holdings plc (ADR) |
$ | 112,919 | |||||
| 2,429 |
*,p | First Solar, Inc |
172,605 | |||||
| 16,565 |
Intel Corp |
511,858 | ||||||
| 9,303 |
* | Lam Research Corp |
628,697 | |||||
| 2,917 |
* | NXP Semiconductors NV |
193,047 | |||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
1,619,126 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 24.7% |
||||||||
| 22,391 |
* | Adobe Systems, Inc |
1,620,213 | |||||
| 9,550 |
* | Autodesk, Inc |
538,429 | |||||
| 28,233 |
* | Facebook, Inc |
1,899,798 | |||||
| 2,374 |
* | Google, Inc |
1,365,715 | |||||
| 2,374 |
* | Google, Inc (Class A) |
1,388,006 | |||||
| 24,420 |
Intuit, Inc |
1,966,543 | ||||||
| 4,422 |
* | King Digital Entertainment plc |
90,872 | |||||
| 21,477 |
Mastercard, Inc (Class A) |
1,577,915 | ||||||
| 2,117 |
*,e | Nuance Communications, Inc |
39,736 | |||||
| 20,355 |
Oracle Corp |
824,988 | ||||||
| 15,304 |
* | Red Hat, Inc |
845,852 | |||||
| 17,175 |
* | Salesforce.com, Inc |
997,524 | |||||
| 4,773 |
* | Twitter, Inc |
195,550 | |||||
| 5,531 |
Visa, Inc (Class A) |
1,165,437 | ||||||
| 10,015 |
* | VMware, Inc (Class A) |
969,552 | |||||
| 1,188 |
* | Workday, Inc |
106,754 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
15,592,884 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 5.3% |
||||||||
| 29,747 |
Apple, Inc |
2,764,389 | ||||||
| 6,320 |
Qualcomm, Inc |
500,544 | ||||||
| 851 |
*,e | Stratasys Ltd |
96,699 | |||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
3,361,632 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 2.2% |
||||||||
| 4,297 |
* | Level 3 Communications, Inc |
188,681 | |||||
| 13,500 |
Softbank Corp |
1,006,060 | ||||||
| 6,141 |
* | T-Mobile US, Inc |
206,460 | |||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
1,401,201 | |||||||
|
|
|
|||||||
| TRANSPORTATION - 3.1% |
||||||||
| 17,855 |
Delta Air Lines, Inc |
691,346 | ||||||
| 5,979 |
Kansas City Southern Industries, Inc |
642,802 | ||||||
| 6,012 |
Union Pacific Corp |
599,697 | ||||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
1,933,845 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $49,755,061) |
63,057,899 | |||||||
|
|
|
|||||||
| PURCHASED OPTIONS - 0.0% |
||||||||
| AUTOMOBILES & COMPONENTS - 0.0% |
||||||||
| 100 |
Tesla Motors, Inc |
421 | ||||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
421 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0% |
||||||||
| 400 |
First Solar, Inc |
796 | ||||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
796 | |||||||
|
|
|
|||||||
| TOTAL PURCHASED OPTIONS (Cost $1,547) |
1,217 | |||||||
|
|
|
|||||||
| SHORT-TERM INVESTMENTS - 0.8% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.8% |
||||||||
| 526,709 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
526,709 | |||||
|
|
|
|||||||
3
TIAA-CREF LIFE FUNDS - Growth Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
$ | 526,709 | ||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $526,709) |
526,709 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 100.8% (Cost $50,283,317) |
63,585,825 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (0.8)% |
(545,005 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 63,040,820 | ||||||
|
|
|
|||||||
| 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 $518,118. |
| p | All or a portion of these securities have been segregated to cover margin requirements on open written contracts. |
4
TIAA-CREF LIFE FUNDS - Growth & Income Fund
TIAA-CREF LIFE FUNDS
GROWTH & INCOME FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2014
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 99.4% |
| |||||||
| AUTOMOBILES & COMPONENTS - 1.5% |
||||||||
| 10,908 |
Delphi Automotive plc |
$ | 749,816 | |||||
| 17,459 |
Johnson Controls, Inc |
871,728 | ||||||
| 4,170 |
Magna International, Inc (Class A) (NY) |
449,317 | ||||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
2,070,861 | |||||||
|
|
|
|||||||
| BANKS - 5.6% |
||||||||
| 127,522 |
Bank of America Corp |
1,960,013 | ||||||
| 5,552 |
BNP Paribas |
377,307 | ||||||
| 12,666 |
Citigroup, Inc |
596,568 | ||||||
| 10,084 |
East West Bancorp, Inc |
352,839 | ||||||
| 9,910 |
* | Essent Group Ltd |
199,092 | |||||
| 11,356 |
Investors Bancorp, Inc |
125,484 | ||||||
| 18,934 |
JPMorgan Chase & Co |
1,090,977 | ||||||
| 24,579 |
SunTrust Banks, Inc |
984,635 | ||||||
| 39,924 |
Wells Fargo & Co |
2,098,406 | ||||||
|
|
|
|||||||
| TOTAL BANKS |
7,785,321 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 7.9% |
||||||||
| 14,708 |
Eaton Corp |
1,135,163 | ||||||
| 11,164 |
Emerson Electric Co |
740,843 | ||||||
| 4,019 |
* | Esterline Technologies Corp |
462,667 | |||||
| 6,128 |
General Dynamics Corp |
714,218 | ||||||
| 111,041 |
General Electric Co |
2,918,158 | ||||||
| 18,082 |
Honeywell International, Inc |
1,680,722 | ||||||
| 12,278 |
ITT Corp |
590,572 | ||||||
| 5,671 |
L-3 Communications Holdings, Inc |
684,773 | ||||||
| 10,127 |
* | Quanta Services, Inc |
350,192 | |||||
| 4,688 |
Rockwell Automation, Inc |
586,750 | ||||||
| 5,263 |
* | Teledyne Technologies, Inc |
511,406 | |||||
| 5,554 |
* | Vestas Wind Systems AS |
280,247 | |||||
| 3,796 |
* | WABCO Holdings, Inc |
405,489 | |||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
11,061,200 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.8% |
||||||||
| 21,835 |
Pitney Bowes, Inc |
603,083 | ||||||
| 9,870 |
Robert Half International, Inc |
471,194 | ||||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
1,074,277 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 3.6% |
||||||||
| 12,729 |
DR Horton, Inc |
312,879 | ||||||
| 6,234 |
e | Garmin Ltd |
379,651 | |||||
| 6,943 |
* | GoPro, Inc |
281,539 | |||||
| 1,437 |
Hanesbrands, Inc |
141,458 | ||||||
| 4,722 |
Harman International Industries, Inc |
507,285 | ||||||
| 17,044 |
Hasbro, Inc |
904,184 | ||||||
| 12,698 |
* | Jarden Corp |
753,626 | |||||
| 7,469 |
* | Kate Spade & Co |
284,868 | |||||
| 3,291 |
* | Mohawk Industries, Inc |
455,277 | |||||
| 23,373 |
Newell Rubbermaid, Inc |
724,329 | ||||||
| 30 |
e | Prada S.p.A |
212 | |||||
| 2,193 |
Ralph Lauren Corp |
352,393 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
5,097,701 | |||||||
|
|
|
|||||||
5
TIAA-CREF LIFE FUNDS - Growth & Income Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| CONSUMER SERVICES - 1.2% |
||||||||
| 8,702 |
Accor S.A. |
$ | 452,291 | |||||
| 6,912 |
* | Chuy’s Holdings, Inc |
250,905 | |||||
| 16,190 |
* | Hilton Worldwide Holdings, Inc |
377,227 | |||||
| 16,157 |
* | Orient-Express Hotels Ltd |
234,923 | |||||
| 9,536 |
Six Flags Entertainment Corp |
405,757 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
1,721,103 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 3.9% |
||||||||
| 12,368 |
American Express Co |
1,173,352 | ||||||
| 7,348 |
Ameriprise Financial, Inc |
881,760 | ||||||
| 13,608 |
Blackstone Group LP |
455,051 | ||||||
| 28,926 |
* | ING Groep NV |
405,903 | |||||
| 12,319 |
Lazard Ltd (Class A) |
635,168 | ||||||
| 6,442 |
Moody’s Corp |
564,706 | ||||||
| 42,223 |
Morgan Stanley |
1,365,070 | ||||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
5,481,010 | |||||||
|
|
|
|||||||
| ENERGY - 9.1% |
||||||||
| 5,100 |
Anadarko Petroleum Corp |
558,297 | ||||||
| 9,297 |
Apache Corp |
935,464 | ||||||
| 9,326 |
* | Cheniere Energy, Inc |
668,674 | |||||
| 20,159 |
Chevron Corp |
2,631,758 | ||||||
| 11,392 |
Consol Energy, Inc |
524,829 | ||||||
| 13,950 |
EOG Resources, Inc |
1,630,197 | ||||||
| 24,129 |
Halliburton Co |
1,713,400 | ||||||
| 23,099 |
Marathon Oil Corp |
922,112 | ||||||
| 7,338 |
Marathon Petroleum Corp |
572,878 | ||||||
| 8,845 |
* | Newfield Exploration Co |
390,949 | |||||
| 3,068 |
* | Parsley Energy, Inc |
73,847 | |||||
| 12,695 |
e | Peyto Energy Trust |
479,580 | |||||
| 9,772 |
Phillips 66 |
785,962 | ||||||
| 26,256 |
Talisman Energy, Inc |
278,313 | ||||||
| 10,824 |
Williams Cos, Inc |
630,065 | ||||||
|
|
|
|||||||
| TOTAL ENERGY |
12,796,325 | |||||||
|
|
|
|||||||
| FOOD & STAPLES RETAILING - 1.0% |
||||||||
| 14,698 |
Kroger Co |
726,522 | ||||||
| 98,000 |
* | Rite Aid Corp |
702,660 | |||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
1,429,182 | |||||||
|
|
|
|||||||
| FOOD, BEVERAGE & TOBACCO - 4.2% |
||||||||
| 49,641 |
Britvic plc |
618,004 | ||||||
| 5,963 |
Brown-Forman Corp (Class B) |
561,536 | ||||||
| 12,464 |
* | Constellation Brands, Inc (Class A) |
1,098,452 | |||||
| 6,405 |
Hershey Co |
623,655 | ||||||
| 4,672 |
Mead Johnson Nutrition Co |
435,290 | ||||||
| 17,740 |
PepsiCo, Inc |
1,584,892 | ||||||
| 9,546 |
SABMiller plc |
553,238 | ||||||
| 14,311 |
* | WhiteWave Foods Co (Class A) |
463,247 | |||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
5,938,314 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 3.8% |
||||||||
| 11,500 |
Abbott Laboratories |
470,350 | ||||||
| 19,361 |
Aetna, Inc |
1,569,790 | ||||||
| 9,990 |
* | Cerner Corp |
515,284 | |||||
| 8,182 |
* | Insulet Corp |
324,580 | |||||
| 4,005 |
McKesson Corp |
745,771 | ||||||
| 2,121 |
* | Premier, Inc |
61,509 | |||||
| 15,098 |
St. Jude Medical, Inc |
1,045,536 | ||||||
| 6,210 |
Universal Health Services, Inc (Class B) |
594,670 | ||||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
5,327,490 | |||||||
|
|
|
|||||||
6
TIAA-CREF LIFE FUNDS - Growth & Income Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 2.9% |
||||||||
| 7,866 |
Beiersdorf AG. |
$ | 760,208 | |||||
| 16,395 |
Colgate-Palmolive Co |
1,117,811 | ||||||
| 7,345 |
Estee Lauder Cos (Class A) |
545,440 | ||||||
| 2,238 |
L’Oreal S.A. |
385,337 | ||||||
| 16,712 |
Procter & Gamble Co |
1,313,396 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
4,122,192 | |||||||
|
|
|
|||||||
| INSURANCE - 3.4% |
||||||||
| 11,579 |
ACE Ltd |
1,200,743 | ||||||
| 12,543 |
Allstate Corp |
736,525 | ||||||
| 8,383 |
Fidelity National Title Group, Inc (Class A) |
274,627 | ||||||
| 27,122 |
Hartford Financial Services Group, Inc |
971,239 | ||||||
| 6,621 |
Marsh & McLennan Cos, Inc |
343,100 | ||||||
| 20,393 |
Metlife, Inc |
1,133,035 | ||||||
| 2,491 |
Stancorp Financial Group, Inc |
159,424 | ||||||
|
|
|
|||||||
| TOTAL INSURANCE |
4,818,693 | |||||||
|
|
|
|||||||
| MATERIALS - 3.4% |
||||||||
| 6,760 |
Akzo Nobel NV |
506,860 | ||||||
| 42,940 |
Alcoa, Inc |
639,376 | ||||||
| 10,204 |
* | Crown Holdings, Inc |
507,751 | |||||
| 19,147 |
p | Dow Chemical Co |
985,305 | |||||
| 10,370 |
Huntsman Corp |
291,397 | ||||||
| 10,432 |
LyondellBasell Industries AF S.C.A |
1,018,685 | ||||||
| 4,077 |
PPG Industries, Inc |
856,781 | ||||||
|
|
|
|||||||
| TOTAL MATERIALS |
4,806,155 | |||||||
|
|
|
|||||||
| MEDIA - 4.5% |
||||||||
| 4,752 |
CBS Outdoor Americas, Inc |
155,295 | ||||||
| 34,101 |
Comcast Corp (Class A) |
1,830,542 | ||||||
| 9,855 |
* | DISH Network Corp (Class A) |
641,363 | |||||
| 18,824 |
e | Lions Gate Entertainment Corp |
537,990 | |||||
| 14,736 |
* | Premiere AG. |
135,784 | |||||
| 21,779 |
Twenty-First Century Fox, Inc |
765,532 | ||||||
| 6,303 |
Viacom, Inc (Class B) |
546,659 | ||||||
| 19,961 |
Walt Disney Co |
1,711,456 | ||||||
|
|
|
|||||||
| TOTAL MEDIA |
6,324,621 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 12.1% |
||||||||
| 10,720 |
AbbVie, Inc |
605,037 | ||||||
| 5,128 |
* | Actavis plc |
1,143,801 | |||||
| 4,659 |
* | Alexion Pharmaceuticals, Inc |
727,969 | |||||
| 10,211 |
* | Alkermes plc |
513,920 | |||||
| 4,586 |
AstraZeneca plc |
341,187 | ||||||
| 2,576 |
* | Biogen Idec, Inc |
812,239 | |||||
| 30,934 |
* | Biovitrum AB |
413,272 | |||||
| 12,960 |
* | Celgene Corp |
1,113,005 | |||||
| 20,164 |
* | Gilead Sciences, Inc |
1,671,797 | |||||
| 3,432 |
* | Illumina, Inc |
612,749 | |||||
| 4,120 |
* | Jazz Pharmaceuticals plc |
605,681 | |||||
| 34,647 |
Johnson & Johnson |
3,624,769 | ||||||
| 2,582 |
*,e | Kite Pharma, Inc |
74,671 | |||||
| 4,870 |
* | Ligand Pharmaceuticals, Inc (Class B) |
303,352 | |||||
| 33,759 |
Merck & Co, Inc |
1,952,958 | ||||||
| 10,957 |
* | Mylan Laboratories, Inc |
564,943 | |||||
| 5,504 |
Novartis AG. |
498,433 | ||||||
| 7,497 |
* | NPS Pharmaceuticals, Inc |
247,776 | |||||
| 4,276 |
* | Salix Pharmaceuticals Ltd |
527,445 | |||||
| 7,215 |
Shire Ltd |
565,966 | ||||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
16,920,970 | |||||||
|
|
|
|||||||
7
TIAA-CREF LIFE FUNDS - Growth & Income Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| RETAILING - 4.9% |
||||||||
| 999 |
* | AutoZone, Inc |
$ | 535,704 | ||||
| 18,139 |
Best Buy Co, Inc |
562,490 | ||||||
| 21,781 |
Home Depot, Inc |
1,763,390 | ||||||
| 32,083 |
*,e | JC Penney Co, Inc |
290,351 | |||||
| 16,057 |
Macy’s, Inc |
931,627 | ||||||
| 1,427 |
*,p | NetFlix, Inc |
628,736 | |||||
| 344 |
* | Priceline.com, Inc |
413,832 | |||||
| 6,217 |
*,p | Restoration Hardware Holdings, Inc |
578,492 | |||||
| 4,753 |
Tiffany & Co |
476,488 | ||||||
| 3,666 |
* | TripAdvisor, Inc |
398,348 | |||||
| 10,949 |
*,e | Yoox S.p.A |
295,226 | |||||
|
|
|
|||||||
| TOTAL RETAILING |
6,874,684 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.0% |
||||||||
| 7,703 |
Avago Technologies Ltd |
555,155 | ||||||
| 25,332 |
Intel Corp |
782,759 | ||||||
| 14,874 |
Linear Technology Corp |
700,119 | ||||||
| 13,318 |
* | NXP Semiconductors NV |
881,385 | |||||
| 12,935 |
*,e | SunPower Corp |
530,076 | |||||
| 14,597 |
Texas Instruments, Inc |
697,591 | ||||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
4,147,085 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 8.7% |
||||||||
| 14,684 |
Activision Blizzard, Inc |
327,453 | ||||||
| 3,323 |
* | Alliance Data Systems Corp |
934,594 | |||||
| 4,873 |
* | Aspen Technology, Inc |
226,107 | |||||
| 10,363 |
* | Citrix Systems, Inc |
648,206 | |||||
| 3,784 |
* | Demandware, Inc |
262,496 | |||||
| 20,502 |
* | Facebook, Inc |
1,379,580 | |||||
| 16,507 |
* | Fortinet, Inc |
414,821 | |||||
| 5,072 |
* | Google, Inc |
2,917,820 | |||||
| 200 |
* | Google, Inc (Class A) |
116,934 | |||||
| 5,669 |
* | Informatica Corp |
202,100 | |||||
| 70,362 |
Microsoft Corp |
2,934,095 | ||||||
| 10,377 |
* | Salesforce.com, Inc |
602,696 | |||||
| 10,020 |
* | Take-Two Interactive Software, Inc |
222,845 | |||||
| 7,164 |
* | Twitter, Inc |
293,509 | |||||
| 4,101 |
* | Workday, Inc |
368,516 | |||||
| 2,077 |
* | Yelp, Inc |
159,264 | |||||
| 45,854 |
* | Zynga, Inc |
147,191 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
12,158,227 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 7.0% |
||||||||
| 54,509 |
Apple, Inc |
5,065,521 | ||||||
| 15,656 |
* | Blackberry Ltd |
160,317 | |||||
| 33,731 |
* | Ciena Corp |
730,614 | |||||
| 21,438 |
Cisco Systems, Inc |
532,734 | ||||||
| 8,765 |
*,p | F5 Networks, Inc |
976,772 | |||||
| 24,946 |
Hewlett-Packard Co |
840,181 | ||||||
| 4,716 |
SanDisk Corp |
492,492 | ||||||
| 3,005 |
*,e,p | Stratasys Ltd |
341,458 | |||||
| 4,447 |
*,e,p | Synaptics, Inc |
403,076 | |||||
| 5,347 |
TE Connectivity Ltd |
330,659 | ||||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
9,873,824 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 1.9% |
||||||||
| 11,203 |
* | Level 3 Communications, Inc |
491,924 | |||||
| 23,765 |
* | T-Mobile US, Inc |
798,979 | |||||
| 28,072 |
Verizon Communications, Inc |
1,373,563 | ||||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
2,664,466 | |||||||
|
|
|
|||||||
8
TIAA-CREF LIFE FUNDS - Growth & Income Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| TRANSPORTATION - 2.5% |
||||||||
| 9,771 |
* | American Airlines Group, Inc |
$ | 419,762 | ||||
| 4,349 |
e | Canadian Pacific Railway Ltd |
787,778 | |||||
| 30,788 |
Delta Air Lines, Inc |
1,192,111 | ||||||
| 5,442 |
p | Kansas City Southern Industries, Inc |
585,069 | |||||
| 2,498 |
* | Old Dominion Freight Line |
159,073 | |||||
| 3,953 |
Ryder System, Inc |
348,220 | ||||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
3,492,013 | |||||||
|
|
|
|||||||
| UTILITIES - 2.5% |
||||||||
| 9,969 |
American Water Works Co, Inc |
492,967 | ||||||
| 13,665 |
* | Calpine Corp |
325,364 | |||||
| 12,034 |
Exelon Corp |
439,000 | ||||||
| 10,234 |
NextEra Energy, Inc |
1,048,781 | ||||||
| 8,971 |
e | NRG Yield, Inc |
466,941 | |||||
| 7,481 |
Sempra Energy |
783,335 | ||||||
|
|
|
|||||||
| TOTAL UTILITIES |
3,556,388 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $106,187,647) |
139,542,102 | |||||||
|
|
|
|||||||
| PURCHASED OPTIONS - 0.0% |
||||||||
| ENERGY - 0.0% |
||||||||
| 1,200 |
Phillips 66 |
1,620 | ||||||
|
|
|
|||||||
| TOTAL ENERGY |
1,620 | |||||||
|
|
|
|||||||
| INSURANCE - 0.0% |
||||||||
| 1,200 |
Fidelity National Financial, Inc |
300 | ||||||
|
|
|
|||||||
| TOTAL INSURANCE |
300 | |||||||
|
|
|
|||||||
| TOTAL PURCHASED OPTIONS (Cost $3,126) |
1,920 | |||||||
|
|
|
|||||||
| SHORT-TERM INVESTMENTS - 2.9% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.9% |
||||||||
| 4,027,268 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
4,027,268 | |||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
4,027,268 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,027,268) |
4,027,268 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 102.3% (Cost $110,218,041) |
143,571,290 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (2.3)% |
(3,192,752 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 140,378,538 | ||||||
|
|
|
|||||||
| * | 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 $3,939,526. |
| p | All or a portion of these securities have been segregated to cover margin requirements on open written options contracts. |
9
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
TIAA-CREF LIFE FUNDS
LARGE-CAP VALUE FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2014
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 99.9% |
| |||||||
| AUTOMOBILES & COMPONENTS - 0.5% |
||||||||
| 11,192 |
* | American Axle & Manufacturing Holdings, Inc |
$ | 211,417 | ||||
| 9,165 |
General Motors Co |
332,689 | ||||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
544,106 | |||||||
|
|
|
|||||||
| BANKS - 10.1% |
||||||||
| 172,727 |
* | Banco Espirito Santo S.A. |
142,111 | |||||
| 125,863 |
Bank of America Corp |
1,934,514 | ||||||
| 32,966 |
Citigroup, Inc |
1,552,699 | ||||||
| 5,280 |
* | Essent Group Ltd |
106,075 | |||||
| 43,946 |
Huntington Bancshares, Inc |
419,245 | ||||||
| 29,276 |
Investors Bancorp, Inc |
323,500 | ||||||
| 23,742 |
JPMorgan Chase & Co |
1,368,014 | ||||||
| 48,588 |
Keycorp |
696,266 | ||||||
| 67,332 |
Regions Financial Corp |
715,066 | ||||||
| 34,149 |
TCF Financial Corp |
559,019 | ||||||
| 58,436 |
Wells Fargo & Co |
3,071,396 | ||||||
|
|
|
|||||||
| TOTAL BANKS |
10,887,905 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 6.8% |
||||||||
| 10,233 |
Allegion plc |
580,006 | ||||||
| 3,175 |
General Dynamics Corp |
370,046 | ||||||
| 149,014 |
General Electric Co |
3,916,088 | ||||||
| 14,964 |
e | Joy Global, Inc |
921,483 | |||||
| 1,249 |
L-3 Communications Holdings, Inc |
150,817 | ||||||
| 3,036 |
* | NOW, Inc |
109,934 | |||||
| 6,519 |
SPX Corp |
705,421 | ||||||
| 11,555 |
Textron, Inc |
442,441 | ||||||
| 7,515 |
* | USG Corp |
226,427 | |||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
7,422,663 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 2.5% |
||||||||
| 3,013 |
* | Deckers Outdoor Corp |
260,112 | |||||
| 12,294 |
Hasbro, Inc |
652,197 | ||||||
| 15,151 |
* | Jarden Corp |
899,212 | |||||
| 42,840 |
Pulte Homes, Inc |
863,654 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
2,675,175 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 3.0% |
||||||||
| 13,916 |
* | Apollo Group, Inc (Class A) |
434,875 | |||||
| 12,844 |
ARAMARK Holdings Corp |
332,403 | ||||||
| 19,276 |
Burger King Worldwide, Inc |
524,693 | ||||||
| 13,373 |
Darden Restaurants, Inc |
618,769 | ||||||
| 52,196 |
e | Echo Entertainment Group Ltd |
154,450 | |||||
| 25,979 |
Extended Stay America, Inc |
601,674 | ||||||
| 8,459 |
Interval Leisure Group, Inc |
185,590 | ||||||
| 2,413 |
Las Vegas Sands Corp |
183,919 | ||||||
| 3,883 |
* | Orient-Express Hotels Ltd |
56,459 | |||||
| 3,830 |
Six Flags Entertainment Corp |
162,966 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
3,255,798 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 3.9% |
||||||||
| 2,270 |
*,e | Ally Financial, Inc |
54,276 | |||||
| 7,076 |
Apollo Management LP |
196,147 | ||||||
| 3,623 |
Capital One Financial Corp |
299,260 | ||||||
10
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,965 |
Goldman Sachs Group, Inc |
$ | 496,459 | |||||
| 24,218 |
* | ING Groep NV (ADR) |
339,536 | |||||
| 17,614 |
Legg Mason, Inc |
903,774 | ||||||
| 24,681 |
Morgan Stanley |
797,937 | ||||||
| 17,341 |
State Street Corp |
1,166,356 | ||||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
4,253,745 | |||||||
|
|
|
|||||||
| ENERGY - 15.8% |
||||||||
| 3,637 |
Anadarko Petroleum Corp |
398,142 | ||||||
| 6,860 |
* | Antero Resources Corp |
450,222 | |||||
| 9,070 |
Apache Corp |
912,623 | ||||||
| 23,870 |
e | Cameco Corp |
468,091 | |||||
| 8,581 |
Chesapeake Energy Corp |
266,698 | ||||||
| 20,960 |
Chevron Corp |
2,736,328 | ||||||
| 10,467 |
* | Cobalt International Energy, Inc |
192,069 | |||||
| 8,814 |
ConocoPhillips |
755,624 | ||||||
| 5,471 |
* | Dresser-Rand Group, Inc |
348,667 | |||||
| 30,135 |
*,e | EP Energy Corp |
694,612 | |||||
| 53,419 |
e | EXCO Resources, Inc |
314,638 | |||||
| 23,955 |
Exxon Mobil Corp |
2,411,789 | ||||||
| 25,926 |
Marathon Oil Corp |
1,034,966 | ||||||
| 15,405 |
* | Matador Resources Co |
451,058 | |||||
| 25,837 |
Nabors Industries Ltd |
758,833 | ||||||
| 5,274 |
Occidental Petroleum Corp |
541,271 | ||||||
| 4,321 |
* | PDC Energy, Inc |
272,871 | |||||
| 4,911 |
Phillips 66 |
394,992 | ||||||
| 14,380 |
Spectra Energy Corp |
610,862 | ||||||
| 9,688 |
Superior Energy Services |
350,124 | ||||||
| 119,716 |
Talisman Energy, Inc |
1,268,990 | ||||||
| 4,610 |
Teekay Corp |
286,973 | ||||||
| 14,934 |
* | Weatherford International Ltd |
343,482 | |||||
| 13,978 |
Williams Cos, Inc |
813,659 | ||||||
|
|
|
|||||||
| TOTAL ENERGY |
17,077,584 | |||||||
|
|
|
|||||||
| FOOD & STAPLES RETAILING - 1.5% |
||||||||
| 15,647 |
CVS Corp |
1,179,314 | ||||||
| 5,816 |
p | Walgreen Co |
431,140 | |||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
1,610,454 | |||||||
|
|
|
|||||||
| FOOD, BEVERAGE & TOBACCO - 2.3% |
||||||||
| 15,059 |
Archer Daniels Midland Co |
664,252 | ||||||
| 16,070 |
Mondelez International, Inc |
604,393 | ||||||
| 7,065 |
Philip Morris International, Inc |
595,650 | ||||||
| 11,637 |
SABMiller plc |
674,422 | ||||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
2,538,717 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 4.3% |
||||||||
| 10,328 |
Abbott Laboratories |
422,415 | ||||||
| 21,067 |
* | Boston Scientific Corp |
269,026 | |||||
| 7,089 |
Covidien plc |
639,286 | ||||||
| 5,360 |
* | Express Scripts Holding Co |
371,609 | |||||
| 26,514 |
* | Hologic, Inc |
672,130 | |||||
| 12,500 |
* | Olympus Corp |
430,079 | |||||
| 16,996 |
UnitedHealth Group, Inc |
1,389,423 | ||||||
| 3,216 |
* | WellCare Health Plans, Inc |
240,106 | |||||
| 2,142 |
WellPoint, Inc |
230,501 | ||||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
4,664,575 | |||||||
|
|
|
|||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 2.9% |
||||||||
| 40,169 |
Avon Products, Inc |
586,869 | ||||||
| 3,375 |
Beiersdorf AG. |
326,176 | ||||||
| 27,801 |
Procter & Gamble Co |
2,184,881 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
3,097,926 | |||||||
|
|
|
|||||||
11
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| INSURANCE - 7.0% |
||||||||
| 8,865 |
ACE Ltd |
$ | 919,300 | |||||
| 12,892 |
Allstate Corp |
757,018 | ||||||
| 15,370 |
American International Group, Inc |
838,895 | ||||||
| 8,851 |
* | Berkshire Hathaway, Inc (Class B) |
1,120,183 | |||||
| 20,699 |
Hartford Financial Services Group, Inc |
741,231 | ||||||
| 15,295 |
* | Hilltop Holdings, Inc |
325,172 | |||||
| 9,810 |
Marsh & McLennan Cos, Inc |
508,354 | ||||||
| 15,634 |
Metlife, Inc |
868,625 | ||||||
| 10,187 |
Principal Financial Group |
514,240 | ||||||
| 4,553 |
Prudential Financial, Inc |
404,170 | ||||||
| 5,893 |
Travelers Cos, Inc |
554,354 | ||||||
|
|
|
|||||||
| TOTAL INSURANCE |
7,551,542 | |||||||
|
|
|
|||||||
| MATERIALS - 2.8% |
||||||||
| 2,862 |
Akzo Nobel NV |
214,590 | ||||||
| 9,529 |
Axiall Corp |
450,436 | ||||||
| 41,783 |
* | Cemex SAB de C.V. (ADR) |
552,789 | |||||
| 15,836 |
e | Cliffs Natural Resources, Inc |
238,332 | |||||
| 15,283 |
* | Constellium NV |
489,973 | |||||
| 2,999 |
Freeport-McMoRan Copper & Gold, Inc (Class B) |
109,463 | ||||||
| 23,336 |
* | Louisiana-Pacific Corp |
350,507 | |||||
| 2,230 |
Sealed Air Corp |
76,199 | ||||||
| 7,700 |
Southern Copper Corp (NY) |
233,849 | ||||||
| 4,937 |
* | Trinseo S.A. |
102,690 | |||||
| 1,789 |
Wacker Chemie AG. |
205,963 | ||||||
|
|
|
|||||||
| TOTAL MATERIALS |
3,024,791 | |||||||
|
|
|
|||||||
| MEDIA - 1.3% |
||||||||
| 6,266 |
CBS Outdoor Americas, Inc |
204,773 | ||||||
| 56,062 |
* | Mediaset S.p.A. |
273,041 | |||||
| 5,803 |
Time Warner, Inc |
407,661 | ||||||
| 725 |
* | Time, Inc |
17,562 | |||||
| 6,298 |
* | Tribune Co |
535,645 | |||||
|
|
|
|||||||
| TOTAL MEDIA |
1,438,682 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 9.3% |
||||||||
| 6,579 |
Agilent Technologies, Inc |
377,898 | ||||||
| 29,593 |
* | Biovitrum AB |
395,356 | |||||
| 5,287 |
Bristol-Myers Squibb Co |
256,472 | ||||||
| 6,731 |
* | Endo International plc |
471,304 | |||||
| 108 |
*,e | Foundation Medicine, Inc |
2,912 | |||||
| 31,484 |
Johnson & Johnson |
3,293,856 | ||||||
| 32,822 |
Merck & Co, Inc |
1,898,753 | ||||||
| 5,580 |
Novartis AG. (ADR) |
505,157 | ||||||
| 48,635 |
Pfizer, Inc |
1,443,487 | ||||||
| 2,683 |
e | Questcor Pharmaceuticals, Inc |
248,151 | |||||
| 1,819 |
* | Salix Pharmaceuticals Ltd |
224,374 | |||||
| 4,954 |
Shire Ltd |
388,607 | ||||||
| 336 |
Shire plc (ADR) |
79,125 | ||||||
| 14,931 |
Zoetis Inc |
481,823 | ||||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
10,067,275 | |||||||
|
|
|
|||||||
| REAL ESTATE - 3.2% |
||||||||
| 11,683 |
Brixmor Property Group, Inc |
268,125 | ||||||
| 10,094 |
* | Forest City Enterprises, Inc (Class A) |
200,568 | |||||
| 5,306 |
Liberty Property Trust |
201,257 | ||||||
| 11,701 |
Mack-Cali Realty Corp |
251,337 | ||||||
| 5,249 |
Post Properties, Inc |
280,611 | ||||||
| 3,540 |
Potlatch Corp |
146,556 | ||||||
12
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 10,137 |
* | Realogy Holdings Corp |
$ | 382,266 | ||||
| 3,999 |
SL Green Realty Corp |
437,531 | ||||||
| 19,986 |
Starwood Property Trust, Inc |
475,067 | ||||||
| 8,184 |
Vornado Realty Trust |
873,479 | ||||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
3,516,797 | |||||||
|
|
|
|||||||
| RETAILING - 1.5% |
||||||||
| 2,268 |
e | American Eagle Outfitters, Inc |
25,447 | |||||
| 10,536 |
Best Buy Co, Inc |
326,721 | ||||||
| 9,871 |
DSW, Inc (Class A) |
275,796 | ||||||
| 3,182 |
Expedia, Inc |
250,614 | ||||||
| 27,801 |
*,e | Groupon, Inc |
184,043 | |||||
| 251,050 |
e | Hengdeli Holdings Ltd |
43,779 | |||||
| 483,000 |
*,e | Intime Retail Group Co Ltd |
423,641 | |||||
| 12,649 |
*,e | JC Penney Co, Inc |
114,474 | |||||
| 2,325 |
*,e | Lifestyle Properties Development Ltd |
285 | |||||
|
|
|
|||||||
| TOTAL RETAILING |
1,644,800 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.3% |
||||||||
| 7,738 |
Broadcom Corp (Class A) |
287,235 | ||||||
| 9,775 |
* | First Solar, Inc |
694,611 | |||||
| 10,147 |
* | Freescale Semiconductor Holdings Ltd |
238,455 | |||||
| 14,877 |
Intel Corp |
459,699 | ||||||
| 14,571 |
* | International Rectifier Corp |
406,531 | |||||
| 50,445 |
* | ON Semiconductor Corp |
461,067 | |||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
2,547,598 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 4.2% |
||||||||
| 7,449 |
* | Autodesk, Inc |
419,975 | |||||
| 3,320 |
* | Citrix Systems, Inc |
207,666 | |||||
| 2,290 |
DST Systems, Inc |
211,069 | ||||||
| 2,392 |
* | eBay, Inc |
119,743 | |||||
| 13,800 |
* | Fortinet, Inc |
346,794 | |||||
| 50,289 |
Microsoft Corp |
2,097,051 | ||||||
| 6,102 |
* | Rackspace Hosting, Inc |
205,393 | |||||
| 5,100 |
*,e | VistaPrint Ltd |
206,346 | |||||
| 12,043 |
* | Yahoo!, Inc |
423,071 | |||||
| 83,708 |
* | Zynga, Inc |
268,703 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
4,505,811 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 4.1% |
||||||||
| 6,964 |
* | Ciena Corp |
150,840 | |||||
| 44,258 |
Cisco Systems, Inc |
1,099,811 | ||||||
| 9,898 |
Corning, Inc |
217,261 | ||||||
| 11,273 |
EMC Corp |
296,931 | ||||||
| 33,249 |
Hewlett-Packard Co |
1,119,827 | ||||||
| 22,638 |
* | JDS Uniphase Corp |
282,296 | |||||
| 11,186 |
* | Juniper Networks, Inc |
274,504 | |||||
| 93,922 |
* | Nokia Corp |
710,050 | |||||
| 5,812 |
Seagate Technology, Inc |
330,238 | ||||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
4,481,758 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 3.6% |
||||||||
| 54,447 |
AT&T, Inc |
1,925,246 | ||||||
| 112,442 |
e | Frontier Communications Corp |
656,661 | |||||
| 18,385 |
* | Level 3 Communications, Inc |
807,286 | |||||
| 11,494 |
Telephone & Data Systems, Inc |
300,108 | ||||||
| 54,446 |
Vodafone Group plc |
181,974 | ||||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
3,871,275 | |||||||
|
|
|
|||||||
13
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| TRANSPORTATION - 2.7% |
||||||||
| 16,093 |
* | American Airlines Group, Inc |
$ | 691,355 | ||||
| 15,994 |
*,b,m | AMR Corp (Escrow) |
160 | |||||
| 13,684 |
Con-Way, Inc |
689,811 | ||||||
| 3,299 |
FedEx Corp |
499,402 | ||||||
| 22,097 |
* | Hertz Global Holdings, Inc |
619,379 | |||||
| 7,518 |
* | UAL Corp |
308,764 | |||||
| 7,955 |
UTI Worldwide, Inc |
82,255 | ||||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
2,891,126 | |||||||
|
|
|
|||||||
| UTILITIES - 4.3% |
||||||||
| 18,025 |
* | Calpine Corp |
429,175 | |||||
| 21,706 |
Centerpoint Energy, Inc |
554,371 | ||||||
| 6,391 |
Duke Energy Corp |
474,148 | ||||||
| 4,837 |
Edison International |
281,078 | ||||||
| 22,008 |
Exelon Corp |
802,852 | ||||||
| 4,383 |
FirstEnergy Corp |
152,178 | ||||||
| 8,193 |
NextEra Energy, Inc |
839,619 | ||||||
| 14,986 |
NRG Energy, Inc |
557,479 | ||||||
| 5,312 |
PG&E Corp |
255,082 | ||||||
| 2,598 |
Sempra Energy |
272,037 | ||||||
|
|
|
|||||||
| TOTAL UTILITIES |
4,618,019 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $91,218,897) |
108,188,122 | |||||||
|
|
|
|||||||
| PURCHASED OPTIONS - 0.0% |
||||||||
| FOOD & STAPLES RETAILING - 0.0% |
||||||||
| 500 |
Walgreens Co |
925 | ||||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
925 | |||||||
|
|
|
|||||||
| TOTAL PURCHASED OPTIONS (Cost $970) |
925 | |||||||
|
|
|
|||||||
| SHORT-TERM INVESTMENTS - 4.2% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 4.2% |
||||||||
| 4,536,739 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
4,536,739 | |||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
4,536,739 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,536,739) |
4,536,739 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 104.1% (Cost $95,756,606) |
112,725,786 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (4.1)% |
(4,440,139 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 108,285,647 | ||||||
|
|
|
|||||||
| Abbreviation(s): | ||
| ADR |
American Depositary Receipt | |
| * | Non-income producing. |
| b | In bankruptcy. |
| 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 $4,421,528. |
| m | Indicates a security that has been deemed illiquid. |
| p | All or a portion of these securities have been segregated to cover margin requirements on open written options contracts. |
14
TIAA-CREF LIFE FUNDS - Real Estate Securities Fund
TIAA-CREF LIFE FUNDS
REAL ESTATE SECURITIES FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2014
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 98.3% |
| |||||||
| DIVERSIFIED REAL ESTATE ACTIVITIES - 0.4% |
||||||||
| 150,000 |
Hang Lung Properties Ltd |
$ | 462,575 | |||||
|
|
|
|||||||
| TOTAL DIVERSIFIED REAL ESTATE ACTIVITIES |
462,575 | |||||||
|
|
|
|||||||
| DIVERSIFIED REITS - 9.2% |
||||||||
| 60,000 |
American Realty Capital Properties, Inc |
751,800 | ||||||
| 40,000 |
Excel Trust, Inc |
533,200 | ||||||
| 200,000 |
Mexico Real Estate Management S.A. de C.V. |
414,537 | ||||||
| 50,000 |
Retail Opportunities Investment Corp |
786,500 | ||||||
| 195,000 |
Spirit Realty Capital, Inc |
2,215,200 | ||||||
| 36,000 |
Vornado Realty Trust |
3,842,280 | ||||||
| 30,000 |
WP Carey, Inc |
1,932,000 | ||||||
|
|
|
|||||||
| TOTAL DIVERSIFIED REITS |
10,475,517 | |||||||
|
|
|
|||||||
| FOREST PRODUCTS - 1.1% |
||||||||
| 82,500 |
* | Louisiana-Pacific Corp |
1,239,150 | |||||
|
|
|
|||||||
| TOTAL FOREST PRODUCTS |
1,239,150 | |||||||
|
|
|
|||||||
| HOMEBUILDING - 0.9% |
||||||||
| 30,000 |
DR Horton, Inc |
737,400 | ||||||
| 12,000 |
* | Taylor Morrison Home Corp |
269,040 | |||||
|
|
|
|||||||
| TOTAL HOMEBUILDING |
1,006,440 | |||||||
|
|
|
|||||||
| HOTELS, RESORTS & CRUISE LINES - 1.2% |
||||||||
| 27,500 |
Extended Stay America, Inc |
636,900 | ||||||
| 50,000 |
* | Orient-Express Hotels Ltd |
727,000 | |||||
|
|
|
|||||||
| TOTAL HOTELS, RESORTS & CRUISE LINES |
1,363,900 | |||||||
|
|
|
|||||||
| INDUSTRIAL REITS - 8.0% |
||||||||
| 17,500 |
EastGroup Properties, Inc |
1,124,025 | ||||||
| 40,000 |
First Industrial Realty Trust, Inc |
753,600 | ||||||
| 127,500 |
Prologis, Inc |
5,238,975 | ||||||
| 43,000 |
STAG Industrial, Inc |
1,032,430 | ||||||
| 45,000 |
Terreno Realty Corp |
869,850 | ||||||
|
|
|
|||||||
| TOTAL INDUSTRIAL REITS |
9,018,880 | |||||||
|
|
|
|||||||
| MORTGAGE REITS - 2.8% |
||||||||
| 15,000 |
Blackstone Mortgage Trust, Inc |
435,000 | ||||||
| 90,000 |
* | Gramercy Property Trust, Inc |
544,500 | |||||
| 100,000 |
NorthStar Realty Finance Corp |
1,738,000 | ||||||
| 20,000 |
Starwood Property Trust, Inc |
475,400 | ||||||
|
|
|
|||||||
| TOTAL MORTGAGE REITS |
3,192,900 | |||||||
|
|
|
|||||||
| OFFICE REITS - 12.1% |
||||||||
| 36,000 |
Boston Properties, Inc |
4,254,480 | ||||||
| 60,000 |
Brandywine Realty Trust |
936,000 | ||||||
| 15,000 |
Digital Realty Trust, Inc |
874,800 | ||||||
| 20,000 |
Douglas Emmett, Inc |
564,400 | ||||||
| 20,000 |
Hudson Pacific Properties |
506,800 | ||||||
| 20,000 |
Kilroy Realty Corp |
1,245,600 | ||||||
| 97,500 |
Parkway Properties, Inc |
2,013,375 | ||||||
| 30,000 |
SL Green Realty Corp |
3,282,300 | ||||||
|
|
|
|||||||
| TOTAL OFFICE REITS |
13,677,755 | |||||||
|
|
|
|||||||
15
TIAA-CREF LIFE 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 SERVICES - 1.6% |
||||||||
| 15,000 |
* | CBRE Group, Inc |
480,600 | |||||
| 50,000 |
Kennedy-Wilson Holdings, Inc |
1,341,000 | ||||||
|
|
|
|||||||
| TOTAL REAL ESTATE SERVICES |
1,821,600 | |||||||
|
|
|
|||||||
| RESIDENTIAL REITS - 17.9% |
||||||||
| 50,000 |
Apartment Investment & Management Co (Class A) |
1,613,500 | ||||||
| 32,000 |
AvalonBay Communities, Inc |
4,550,080 | ||||||
| 30,000 |
Camden Property Trust |
2,134,500 | ||||||
| 105,000 |
Education Realty Trust, Inc |
1,127,700 | ||||||
| 30,000 |
Equity Lifestyle Properties, Inc |
1,324,800 | ||||||
| 63,500 |
Equity Residential |
4,000,500 | ||||||
| 17,500 |
Essex Property Trust, Inc |
3,235,925 | ||||||
| 22,000 |
Post Properties, Inc |
1,176,120 | ||||||
| 22,000 |
Sun Communities, Inc |
1,096,480 | ||||||
|
|
|
|||||||
| TOTAL RESIDENTIAL REITS |
20,259,605 | |||||||
|
|
|
|||||||
| RETAIL REITS - 20.0% |
||||||||
| 28,000 |
Acadia Realty Trust |
786,520 | ||||||
| 35,000 |
Equity One, Inc |
825,650 | ||||||
| 16,500 |
Federal Realty Investment Trust |
1,995,180 | ||||||
| 157,500 |
General Growth Properties, Inc |
3,710,700 | ||||||
| 44,000 |
Regency Centers Corp |
2,449,920 | ||||||
| 73,500 |
Simon Property Group, Inc |
12,221,580 | ||||||
| 37,000 |
* | Washington Prime Group, Inc |
693,380 | |||||
|
|
|
|||||||
| TOTAL RETAIL REITS |
22,682,930 | |||||||
|
|
|
|||||||
| SPECIALIZED REITS - 23.1% |
||||||||
| 36,000 |
American Tower Corp |
3,239,280 | ||||||
| 68,500 |
CubeSmart |
1,254,920 | ||||||
| 50,000 |
DiamondRock Hospitality Co |
641,000 | ||||||
| 30,000 |
Extra Space Storage, Inc |
1,597,500 | ||||||
| 25,000 |
HCP, Inc |
1,034,500 | ||||||
| 30,000 |
Health Care REIT, Inc |
1,880,100 | ||||||
| 40,000 |
Healthcare Realty Trust, Inc |
1,016,800 | ||||||
| 73,500 |
Healthcare Trust of America, Inc |
884,940 | ||||||
| 73,500 |
Host Marriott Corp |
1,617,735 | ||||||
| 25,000 |
Potlatch Corp |
1,035,000 | ||||||
| 18,000 |
Public Storage, Inc |
3,084,300 | ||||||
| 54,000 |
RLJ Lodging Trust |
1,560,060 | ||||||
| 162,500 |
* | Strategic Hotels & Resorts, Inc |
1,902,875 | |||||
| 117,500 |
Sunstone Hotel Investors, Inc |
1,754,275 | ||||||
| 60,000 |
Ventas, Inc |
3,846,000 | ||||||
|
|
|
|||||||
| TOTAL SPECIALIZED REITS |
26,349,285 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $93,446,833) |
111,550,537 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 98.3% (Cost $93,446,833) |
111,550,537 | |||||||
| OTHER ASSETS & LIABILITIES, NET - 1.7% |
1,888,195 | |||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 113,438,732 | ||||||
|
|
|
|||||||
| Abbreviation(s): | ||
| REIT |
Real Estate Investment Trust | |
16
TIAA-CREF LIFE FUNDS - Real Estate Securities Fund
| * | Non-income producing. |
| b | In bankruptcy. |
| m | Indicates a security that has been deemed illiquid. |
17
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
TIAA-CREF LIFE FUNDS
SMALL-CAP EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2014
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 99.9% |
| |||||||
| AUTOMOBILES & COMPONENTS - 0.8% |
||||||||
| 6,329 |
* | Tenneco, Inc |
$ | 415,815 | ||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
415,815 | |||||||
|
|
|
|||||||
| BANKS - 8.2% |
||||||||
| 3,309 |
Banner Corp |
131,136 | ||||||
| 13,390 |
Boston Private Financial Holdings, Inc |
179,961 | ||||||
| 15,900 |
Brookline Bancorp, Inc |
148,983 | ||||||
| 22,331 |
Capitol Federal Financial |
271,545 | ||||||
| 11,272 |
Cathay General Bancorp |
288,112 | ||||||
| 13,000 |
First Commonwealth Financial Corp |
119,860 | ||||||
| 14,359 |
FirstMerit Corp |
283,590 | ||||||
| 16,380 |
FNB Corp |
209,991 | ||||||
| 14,394 |
Home Loan Servicing Solutions Ltd |
327,176 | ||||||
| 31,074 |
Investors Bancorp, Inc |
343,368 | ||||||
| 31,752 |
* | MGIC Investment Corp |
293,388 | |||||
| 21,441 |
National Penn Bancshares, Inc |
226,846 | ||||||
| 9,625 |
Oritani Financial Corp |
148,129 | ||||||
| 7,312 |
Prosperity Bancshares, Inc |
457,731 | ||||||
| 13,800 |
Provident Financial Services, Inc |
239,016 | ||||||
| 17,990 |
Radian Group, Inc |
266,432 | ||||||
| 20,302 |
Susquehanna Bancshares, Inc |
214,389 | ||||||
| 6,390 |
Webster Financial Corp |
201,541 | ||||||
|
|
|
|||||||
| TOTAL BANKS |
4,351,194 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 8.0% |
||||||||
| 4,790 |
Actuant Corp (Class A) |
165,590 | ||||||
| 2,030 |
Acuity Brands, Inc |
280,647 | ||||||
| 3,037 |
* | American Woodmark Corp |
96,789 | |||||
| 6,105 |
Applied Industrial Technologies, Inc |
309,707 | ||||||
| 7,089 |
Comfort Systems USA, Inc |
112,006 | ||||||
| 4,083 |
Crane Co |
303,612 | ||||||
| 2,613 |
Curtiss-Wright Corp |
171,308 | ||||||
| 4,954 |
EMCOR Group, Inc |
220,602 | ||||||
| 4,329 |
EnerSys |
297,792 | ||||||
| 910 |
Graco, Inc |
71,053 | ||||||
| 2,124 |
Heico Corp |
110,321 | ||||||
| 5,940 |
* | Hexcel Corp |
242,946 | |||||
| 1,605 |
LB Foster Co (Class A) |
86,863 | ||||||
| 4,649 |
Mueller Industries, Inc |
136,727 | ||||||
| 9,900 |
* | Orbital Sciences Corp |
292,545 | |||||
| 2,615 |
*,e | Proto Labs, Inc |
214,221 | |||||
| 1,400 |
Regal-Beloit Corp |
109,984 | ||||||
| 18,921 |
* | Taser International, Inc |
251,649 | |||||
| 3,540 |
* | Teledyne Technologies, Inc |
343,982 | |||||
| 1,960 |
Universal Forest Products, Inc |
94,609 | ||||||
| 3,360 |
* | WABCO Holdings, Inc |
358,915 | |||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
4,271,868 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 4.2% |
||||||||
| 4,967 |
American Ecology Corp |
243,135 | ||||||
| 104 |
Exponent, Inc |
7,707 | ||||||
| 4,303 |
HNI Corp |
168,290 | ||||||
| 2,998 |
* | Huron Consulting Group, Inc |
212,318 | |||||
| 7,902 |
* | Korn/Ferry International |
232,082 | |||||
| 5,047 |
* | On Assignment, Inc |
179,522 | |||||
18
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 7,404 |
Rollins, Inc |
$ | 222,120 | |||||
| 12,939 |
* | RPX Corp |
229,667 | |||||
| 10,743 |
* | TrueBlue, Inc |
296,185 | |||||
| 3,588 |
Viad Corp |
85,538 | ||||||
| 6,918 |
* | WageWorks, Inc |
333,517 | |||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
2,210,081 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 2.0% |
||||||||
| 5,339 |
* | Beazer Homes USA, Inc |
112,012 | |||||
| 8,690 |
Brunswick Corp |
366,110 | ||||||
| 8,727 |
* | CROCS, Inc |
131,167 | |||||
| 4,800 |
La-Z-Boy, Inc |
111,216 | ||||||
| 2,337 |
Movado Group, Inc |
97,383 | ||||||
| 6,864 |
* | Steven Madden Ltd |
235,435 | |||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
1,053,323 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 3.7% |
||||||||
| 3,631 |
Cheesecake Factory |
168,551 | ||||||
| 333 |
DineEquity, Inc |
26,470 | ||||||
| 3,525 |
Hillenbrand, Inc |
114,985 | ||||||
| 4,475 |
* | Hyatt Hotels Corp |
272,885 | |||||
| 6,203 |
* | Marriott Vacations Worldwide Corp |
363,682 | |||||
| 5,501 |
* | Multimedia Games, Inc |
163,050 | |||||
| 12,402 |
* | Orient-Express Hotels Ltd |
180,325 | |||||
| 16,536 |
Service Corp International |
342,626 | ||||||
| 5,190 |
Texas Roadhouse, Inc (Class A) |
134,940 | ||||||
| 2,270 |
Vail Resorts, Inc |
175,199 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
1,942,713 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 0.5% |
||||||||
| 4,019 |
Cash America International, Inc |
178,564 | ||||||
| 7,700 |
* | KCG Holdings, Inc |
91,476 | |||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
270,040 | |||||||
|
|
|
|||||||
| ENERGY - 5.8% |
||||||||
| 2,138 |
Alon USA Energy, Inc |
26,597 | ||||||
| 19,900 |
*,e | Alpha Natural Resources, Inc |
73,829 | |||||
| 8,794 |
*,e | Approach Resources, Inc |
199,888 | |||||
| 9,800 |
* | Callon Petroleum Co |
114,170 | |||||
| 2,470 |
e | CVR Energy, Inc |
119,029 | |||||
| 6,927 |
Delek US Holdings, Inc |
195,549 | ||||||
| 2,346 |
e | Energy XXI Bermuda Ltd |
55,436 | |||||
| 6,200 |
Green Plains Renewable Energy, Inc |
203,794 | ||||||
| 6,653 |
* | Helix Energy Solutions Group, Inc |
175,040 | |||||
| 4,575 |
* | Matrix Service Co |
150,014 | |||||
| 20,474 |
* | Pioneer Energy Services Corp |
359,114 | |||||
| 11,628 |
* | Renewable Energy Group, Inc |
133,373 | |||||
| 1,999 |
* | Rex Stores Corp |
146,547 | |||||
| 4,076 |
* | Stone Energy Corp |
190,716 | |||||
| 2,219 |
Targa Resources Investments, Inc |
309,706 | ||||||
| 25,599 |
* | Vaalco Energy, Inc |
185,081 | |||||
| 6,602 |
W&T Offshore, Inc |
108,075 | ||||||
| 4,080 |
Western Refining, Inc |
153,204 | ||||||
| 14,890 |
* | Willbros Group, Inc |
183,891 | |||||
|
|
|
|||||||
| TOTAL ENERGY |
3,083,053 | |||||||
|
|
|
|||||||
| FOOD & STAPLES RETAILING - 0.9% |
||||||||
| 3,200 |
* | Fresh Market, Inc |
107,104 | |||||
| 3,800 |
*,e | Sprouts Farmers Market, Inc |
124,336 | |||||
| 2,900 |
* | United Natural Foods, Inc |
188,790 | |||||
| 958 |
Weis Markets, Inc |
43,809 | ||||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
464,039 | |||||||
|
|
|
|||||||
19
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| FOOD, BEVERAGE & TOBACCO - 0.9% |
||||||||
| 3,521 |
Fresh Del Monte Produce, Inc |
$ | 107,919 | |||||
| 3,580 |
Sanderson Farms, Inc |
347,976 | ||||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
455,895 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 6.1% |
||||||||
| 5,120 |
* | Align Technology, Inc |
286,925 | |||||
| 10,696 |
* | AMN Healthcare Services, Inc |
131,561 | |||||
| 2,988 |
* | Amsurg Corp |
136,163 | |||||
| 1,367 |
* | Anika Therapeutics, Inc |
63,333 | |||||
| 4,021 |
Computer Programs & Systems, Inc |
255,735 | ||||||
| 2,215 |
* | Cyberonics, Inc |
138,349 | |||||
| 4,832 |
* | Cynosure, Inc (Class A) |
102,680 | |||||
| 3,744 |
* | HealthStream, Inc |
90,979 | |||||
| 1,880 |
* | ICU Medical, Inc |
114,323 | |||||
| 7,322 |
* | Medidata Solutions, Inc |
313,455 | |||||
| 4,930 |
* | NuVasive, Inc |
175,360 | |||||
| 4,866 |
* | Omnicell, Inc |
139,703 | |||||
| 13,447 |
* | OraSure Technologies, Inc |
115,779 | |||||
| 3,352 |
* | PharMerica Corp |
95,834 | |||||
| 6,514 |
Quality Systems, Inc |
104,550 | ||||||
| 8,400 |
Select Medical Holdings Corp |
131,040 | ||||||
| 3,680 |
* | Team Health Holdings, Inc |
183,779 | |||||
| 6,519 |
* | Thoratec Corp |
227,252 | |||||
| 5,599 |
* | WellCare Health Plans, Inc |
418,021 | |||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
3,224,821 | |||||||
|
|
|
|||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 0.4% |
||||||||
| 6,270 |
Medifast, Inc |
190,671 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
190,671 | |||||||
|
|
|
|||||||
| INSURANCE - 3.6% |
||||||||
| 4,490 |
e | Amtrust Financial Services, Inc |
187,727 | |||||
| 7,610 |
Assured Guaranty Ltd |
186,445 | ||||||
| 6,494 |
e | HCI Group, Inc |
263,657 | |||||
| 15,320 |
Maiden Holdings Ltd |
185,219 | ||||||
| 16,880 |
* | MBIA, Inc |
186,355 | |||||
| 6,013 |
Montpelier Re Holdings Ltd |
192,115 | ||||||
| 5,601 |
Platinum Underwriters Holdings Ltd |
363,225 | ||||||
| 4,400 |
Primerica, Inc |
210,540 | ||||||
| 9,828 |
* | Third Point Reinsurance Ltd |
149,975 | |||||
|
|
|
|||||||
| TOTAL INSURANCE |
1,925,258 | |||||||
|
|
|
|||||||
| MATERIALS - 4.4% |
||||||||
| 3,500 |
A. Schulman, Inc |
135,450 | ||||||
| 13,700 |
*,e | AK Steel Holding Corp |
109,052 | |||||
| 866 |
Ampco-Pittsburgh Corp |
19,866 | ||||||
| 2,900 |
Balchem Corp |
155,324 | ||||||
| 4,386 |
* | Boise Cascade Co |
125,615 | |||||
| 9,610 |
* | Coeur d’Alene Mines Corp |
88,220 | |||||
| 8,347 |
Globe Specialty Metals, Inc |
173,450 | ||||||
| 4,988 |
Minerals Technologies, Inc |
327,113 | ||||||
| 4,804 |
OM Group, Inc |
155,794 | ||||||
| 1,433 |
Quaker Chemical Corp |
110,040 | ||||||
| 10,678 |
* | Resolute Forest Products |
179,177 | |||||
| 3,989 |
* | RTI International Metals, Inc |
106,067 | |||||
| 5,497 |
Schnitzer Steel Industries, Inc (Class A) |
143,307 | ||||||
| 15,640 |
* | Stillwater Mining Co |
274,482 | |||||
| 5,423 |
Worthington Industries, Inc |
233,406 | ||||||
|
|
|
|||||||
| TOTAL MATERIALS |
2,336,363 | |||||||
|
|
|
|||||||
20
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| MEDIA - 2.5% |
||||||||
| 6,424 |
Cinemark Holdings, Inc |
$ | 227,153 | |||||
| 8,332 |
* | EW Scripps Co (Class A) |
176,305 | |||||
| 10,859 |
* | Journal Communications, Inc (Class A) |
96,319 | |||||
| 6,064 |
Lamar Advertising Co (Class A) |
321,392 | ||||||
| 12,920 |
* | Live Nation, Inc |
318,995 | |||||
| 8,300 |
* | Time, Inc |
201,026 | |||||
|
|
|
|||||||
| TOTAL MEDIA |
1,341,190 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.1% |
||||||||
| 4,900 |
*,e | Acadia Pharmaceuticals, Inc |
110,691 | |||||
| 991 |
*,e | Acceleron Pharma, Inc |
33,664 | |||||
| 7,000 |
* | Achillion Pharmaceuticals, Inc |
52,990 | |||||
| 6,730 |
* | Acorda Therapeutics, Inc |
226,868 | |||||
| 12,882 |
*,e | Affymetrix, Inc |
114,779 | |||||
| 1,050 |
*,e | Alnylam Pharmaceuticals, Inc |
66,328 | |||||
| 3,309 |
*,e | AMAG Pharmaceuticals, Inc |
68,562 | |||||
| 12,000 |
*,e | Arena Pharmaceuticals, Inc |
70,320 | |||||
| 17,093 |
* | AVANIR Pharmaceuticals, Inc |
96,405 | |||||
| 4,517 |
* | Cambrex Corp |
93,502 | |||||
| 2,234 |
*,e | Cara Therapeutics Inc |
38,023 | |||||
| 1,600 |
*,e | Celldex Therapeutics, Inc |
26,112 | |||||
| 4,346 |
*,e | Cepheid, Inc |
208,347 | |||||
| 12,831 |
*,e | CTI BIOPHARMA CORP |
36,055 | |||||
| 8,161 |
* | Cytokinetics, Inc |
39,010 | |||||
| 9,035 |
* | Depomed, Inc |
125,586 | |||||
| 5,600 |
*,e | Exelixis, Inc |
18,984 | |||||
| 1,811 |
* | Genomic Health, Inc |
49,621 | |||||
| 5,839 |
* | Impax Laboratories, Inc |
175,112 | |||||
| 4,000 |
* | Insmed, Inc |
79,920 | |||||
| 3,585 |
*,e | Insys Therapeutics, Inc |
111,960 | |||||
| 2,000 |
* | InterMune, Inc |
88,300 | |||||
| 5,870 |
*,e | Isis Pharmaceuticals, Inc |
202,221 | |||||
| 1,000 |
*,e | Karyopharm Therapeutics, Inc |
46,550 | |||||
| 2,730 |
* | Lannett Co, Inc |
135,463 | |||||
| 8,079 |
* | Medicines Co |
234,776 | |||||
| 3,456 |
* | Momenta Pharmaceuticals, Inc |
41,748 | |||||
| 5,350 |
* | NPS Pharmaceuticals, Inc |
176,818 | |||||
| 3,027 |
* | OncoGenex Pharmaceutical, Inc |
11,291 | |||||
| 10,080 |
*,e | Orexigen Therapeutics, Inc |
62,294 | |||||
| 6,860 |
* | Parexel International Corp |
362,482 | |||||
| 7,070 |
e | PDL BioPharma, Inc |
68,438 | |||||
| 7,200 |
* | Prestige Brands Holdings, Inc |
244,008 | |||||
| 3,167 |
* | Prothena Corp plc |
71,416 | |||||
| 1,080 |
* | Puma Biotechnology, Inc |
71,280 | |||||
| 1,735 |
* | Sagent Pharmaceuticals |
44,867 | |||||
| 1,600 |
* | TESARO, Inc |
49,776 | |||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
3,754,567 | |||||||
|
|
|
|||||||
| REAL ESTATE - 8.9% |
||||||||
| 5,800 |
Aviv REIT, Inc |
163,386 | ||||||
| 1,508 |
Chesapeake Lodging Trust |
45,587 | ||||||
| 24,784 |
Cousins Properties, Inc |
308,561 | ||||||
| 16,887 |
CubeSmart |
309,370 | ||||||
| 13,540 |
DuPont Fabros Technology, Inc |
365,038 | ||||||
| 3,980 |
EastGroup Properties, Inc |
255,635 | ||||||
| 18,335 |
Education Realty Trust, Inc |
196,918 | ||||||
| 4,640 |
Extra Space Storage, Inc |
247,080 | ||||||
| 20,700 |
Hersha Hospitality Trust |
138,897 | ||||||
| 3,604 |
LTC Properties, Inc |
140,700 | ||||||
| 25,860 |
New Residential Investment Corp |
162,918 | ||||||
| 8,195 |
Parkway Properties, Inc |
169,227 | ||||||
| 2,459 |
PS Business Parks, Inc |
205,302 | ||||||
| 17,848 |
RAIT Investment Trust |
147,603 | ||||||
21
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 7,900 |
Retail Opportunities Investment Corp |
$ | 124,267 | |||||
| 13,193 |
RLJ Lodging Trust |
381,146 | ||||||
| 1,882 |
Saul Centers, Inc |
91,465 | ||||||
| 4,507 |
Sovran Self Storage, Inc |
348,166 | ||||||
| 6,100 |
*,e | St. Joe Co |
155,123 | |||||
| 30,360 |
* | Strategic Hotels & Resorts, Inc |
355,516 | |||||
| 5,380 |
Sun Communities, Inc |
268,139 | ||||||
| 11,227 |
Sunstone Hotel Investors, Inc |
167,619 | ||||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
4,747,663 | |||||||
|
|
|
|||||||
| RETAILING - 6.0% |
||||||||
| 2,270 |
* | Asbury Automotive Group, Inc |
156,040 | |||||
| 7,689 |
* | Barnes & Noble, Inc |
175,232 | |||||
| 3,074 |
* | Big Lots, Inc |
140,482 | |||||
| 2,391 |
* | Children’s Place Retail Stores, Inc |
118,665 | |||||
| 18,841 |
* | Christopher & Banks Corp |
165,047 | |||||
| 3,300 |
* | Five Below, Inc |
131,703 | |||||
| 5,281 |
* | Kirkland’s, Inc |
97,963 | |||||
| 2,021 |
Lithia Motors, Inc (Class A) |
190,115 | ||||||
| 4,000 |
Men’s Wearhouse, Inc |
223,200 | ||||||
| 46,900 |
* | Office Depot, Inc |
266,861 | |||||
| 16,970 |
* | Orbitz Worldwide, Inc |
151,033 | |||||
| 6,968 |
Penske Auto Group, Inc |
344,916 | ||||||
| 6,690 |
Pier 1 Imports, Inc |
103,093 | ||||||
| 2,500 |
* | Restoration Hardware Holdings, Inc |
232,625 | |||||
| 5,665 |
*,e | RetailMeNot, Inc |
150,746 | |||||
| 4,729 |
* | Shutterfly, Inc |
203,631 | |||||
| 3,600 |
* | Vitamin Shoppe, Inc |
154,872 | |||||
| 1,800 |
*,e | zulily, Inc |
73,710 | |||||
| 4,205 |
* | Zumiez, Inc |
116,016 | |||||
|
|
|
|||||||
| TOTAL RETAILING |
3,195,950 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.4% |
||||||||
| 5,888 |
* | Advanced Energy Industries, Inc |
113,344 | |||||
| 6,170 |
*,e | Ambarella, Inc |
192,381 | |||||
| 3,340 |
* | Cabot Microelectronics Corp |
149,131 | |||||
| 8,587 |
* | Cavium Networks, Inc |
426,431 | |||||
| 12,194 |
* | Entegris, Inc |
167,606 | |||||
| 31,365 |
* | Entropic Communications, Inc |
104,445 | |||||
| 10,073 |
* | Integrated Device Technology, Inc |
155,729 | |||||
| 35,088 |
* | Lattice Semiconductor Corp |
289,476 | |||||
| 26,100 |
* | PMC - Sierra, Inc |
198,621 | |||||
| 16,553 |
* | Rambus, Inc |
236,708 | |||||
| 25,234 |
* | Silicon Image, Inc |
127,179 | |||||
| 8,400 |
e | Teradyne, Inc |
164,640 | |||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
2,325,691 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 9.5% |
||||||||
| 7,850 |
* | Aspen Technology, Inc |
364,240 | |||||
| 5,446 |
* | Constant Contact, Inc |
174,871 | |||||
| 3,700 |
* | Cornerstone OnDemand, Inc |
170,274 | |||||
| 3,400 |
* | Cvent, Inc |
98,906 | |||||
| 5,618 |
* | Demandware, Inc |
389,721 | |||||
| 2,797 |
DST Systems, Inc |
257,800 | ||||||
| 7,000 |
*,e | Gigamon, Inc |
133,980 | |||||
| 4,300 |
* | Guidewire Software, Inc |
174,838 | |||||
| 7,458 |
* | LogMeIn, Inc |
347,692 | |||||
| 8,955 |
* | Manhattan Associates, Inc |
308,320 | |||||
| 5,055 |
*,e | Marketo, Inc |
146,999 | |||||
| 5,648 |
MAXIMUS, Inc |
242,977 | ||||||
| 20,410 |
* | Monster Worldwide, Inc |
133,481 | |||||
| 6,742 |
Pegasystems, Inc |
142,391 | ||||||
| 4,080 |
* | Proofpoint, Inc |
152,837 | |||||
| 2,819 |
* | Syntel, Inc |
242,321 | |||||
22
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,800 |
* | Tableau Software, Inc |
$ | 199,724 | ||||
| 9,728 |
* | TiVo, Inc |
125,589 | |||||
| 2,806 |
* | Ultimate Software Group, Inc |
387,705 | |||||
| 3,688 |
* | Varonis Systems, Inc |
106,989 | |||||
| 5,587 |
*,e | WebMD Health Corp (Class A) |
269,852 | |||||
| 8,845 |
* | Xoom Corp |
233,154 | |||||
| 3,000 |
* | Yelp, Inc |
230,040 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
5,034,701 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 5.8% |
||||||||
| 11,177 |
e | Alliance Fiber Optic Products, Inc |
202,304 | |||||
| 8,458 |
* | ARRIS Group, Inc |
275,139 | |||||
| 10,270 |
* | Aruba Networks, Inc |
179,930 | |||||
| 7,435 |
* | Benchmark Electronics, Inc |
189,444 | |||||
| 10,200 |
* | Ciena Corp |
220,932 | |||||
| 7,111 |
* | Immersion Corp |
90,452 | |||||
| 4,951 |
* | Plexus Corp |
214,329 | |||||
| 23,200 |
* | QLogic Corp |
234,088 | |||||
| 6,900 |
* | Ruckus Wireless, Inc |
82,179 | |||||
| 12,267 |
* | Sanmina Corp |
279,442 | |||||
| 33,650 |
* | Sonus Networks, Inc |
120,804 | |||||
| 6,190 |
* | Super Micro Computer, Inc |
156,421 | |||||
| 4,192 |
*,e | Synaptics, Inc |
379,963 | |||||
| 4,358 |
* | SYNNEX Corp |
317,480 | |||||
| 4,800 |
*,e | Universal Display Corp |
154,080 | |||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
3,096,987 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 1.1% |
||||||||
| 24,331 |
* | 8x8, Inc |
196,594 | |||||
| 8,755 |
Inteliquent, Inc |
121,432 | ||||||
| 10,293 |
* | Premiere Global Services, Inc |
137,412 | |||||
| 28,471 |
* | Vonage Holdings Corp |
106,766 | |||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
562,204 | |||||||
|
|
|
|||||||
| TRANSPORTATION - 1.7% |
||||||||
| 549 |
Amerco, Inc |
159,627 | ||||||
| 6,588 |
Arkansas Best Corp |
286,644 | ||||||
| 3,700 |
Landstar System, Inc |
236,800 | ||||||
| 7,579 |
Matson, Inc |
203,420 | ||||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
886,491 | |||||||
|
|
|
|||||||
| UTILITIES - 3.4% |
||||||||
| 7,160 |
American States Water Co |
237,927 | ||||||
| 8,873 |
Avista Corp |
297,423 | ||||||
| 5,734 |
Black Hills Corp |
352,010 | ||||||
| 6,717 |
Empire District Electric Co |
172,493 | ||||||
| 4,128 |
Laclede Group, Inc |
200,414 | ||||||
| 5,631 |
New Jersey Resources Corp |
321,868 | ||||||
| 4,158 |
NorthWestern Corp |
217,006 | ||||||
|
|
|
|||||||
| TOTAL UTILITIES |
1,799,141 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $44,781,936) |
52,939,719 | |||||||
|
|
|
|||||||
23
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| SHORT-TERM INVESTMENTS - 8.0% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 8.0% |
||||||||
| 4,255,302 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
$ | 4,255,302 | ||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
4,255,302 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,255,302) |
4,255,302 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 107.9% (Cost $49,037,238) |
57,195,021 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (7.9)% |
(4,188,427 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 53,006,594 | ||||||
|
|
|
|||||||
| Abbreviation(s): | ||
| REIT |
Real Estate Investment Trust | |
| * | 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 $4,159,034. |
24
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
TIAA-CREF LIFE FUNDS
SOCIAL CHOICE EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2014
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 99.2% |
||||||||
| AUTOMOBILES & COMPONENTS - 2.1% |
| |||||||
| 650 |
BorgWarner, Inc |
$ | 42,373 | |||||
| 70 |
Delphi Automotive plc |
4,812 | ||||||
| 30,738 |
Ford Motor Co |
529,923 | ||||||
| 2,462 |
Harley-Davidson, Inc |
171,971 | ||||||
| 8,094 |
Johnson Controls, Inc |
404,133 | ||||||
| 292 |
* | Modine Manufacturing Co |
4,596 | |||||
| 1,073 |
* | Tenneco, Inc |
70,496 | |||||
| 910 |
* | Tesla Motors, Inc |
218,455 | |||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
1,446,759 | |||||||
|
|
|
|||||||
| BANKS - 3.4% |
||||||||
| 470 |
Associated Banc-Corp |
8,498 | ||||||
| 196 |
Bank of Hawaii Corp |
11,503 | ||||||
| 9,729 |
BB&T Corp |
383,614 | ||||||
| 200 |
Boston Private Financial Holdings, Inc |
2,688 | ||||||
| 38 |
Capitol Federal Financial |
462 | ||||||
| 72 |
Centerstate Banks of Florida, Inc |
806 | ||||||
| 91 |
CIT Group, Inc |
4,164 | ||||||
| 1,692 |
Comerica, Inc |
84,871 | ||||||
| 22 |
Community Bank System, Inc |
796 | ||||||
| 69 |
Cullen/Frost Bankers, Inc |
5,480 | ||||||
| 1,786 |
Huntington Bancshares, Inc |
17,038 | ||||||
| 88 |
IBERIABANK Corp |
6,089 | ||||||
| 16,956 |
Keycorp |
242,979 | ||||||
| 2,859 |
M&T Bank Corp |
354,659 | ||||||
| 528 |
* | MGIC Investment Corp |
4,879 | |||||
| 1,477 |
New York Community Bancorp, Inc |
23,602 | ||||||
| 333 |
OFG Bancorp |
6,131 | ||||||
| 145 |
Old National Bancorp |
2,071 | ||||||
| 199 |
PacWest Bancorp |
8,591 | ||||||
| 18 |
Peoples Bancorp, Inc |
476 | ||||||
| 189 |
People’s United Financial, Inc |
2,867 | ||||||
| 5,186 |
PNC Financial Services Group, Inc |
461,813 | ||||||
| 574 |
* | Popular, Inc |
19,619 | |||||
| 188 |
PrivateBancorp, Inc |
5,463 | ||||||
| 355 |
Provident Financial Services, Inc |
6,149 | ||||||
| 6,559 |
Radian Group, Inc |
97,139 | ||||||
| 35 |
* | Signature Bank |
4,416 | |||||
| 160 |
Susquehanna Bancshares, Inc |
1,690 | ||||||
| 269 |
* | SVB Financial Group |
31,371 | |||||
| 31 |
TCF Financial Corp |
507 | ||||||
| 50 |
UMB Financial Corp |
3,170 | ||||||
| 102 |
United Bankshares, Inc |
3,298 | ||||||
| 12,811 |
US Bancorp |
554,973 | ||||||
| 107 |
Webster Financial Corp |
3,375 | ||||||
| 49 |
Westamerica Bancorporation |
2,562 | ||||||
| 169 |
Wilshire Bancorp, Inc |
1,736 | ||||||
| 290 |
Zions Bancorporation |
8,546 | ||||||
|
|
|
|||||||
| TOTAL BANKS |
2,378,091 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 6.6% |
||||||||
| 4,343 |
3M Co |
622,091 | ||||||
| 178 |
A.O. Smith Corp |
8,825 | ||||||
| 103 |
Actuant Corp (Class A) |
3,561 | ||||||
| 39 |
Acuity Brands, Inc |
5,392 | ||||||
| 4,742 |
Ametek, Inc |
247,912 | ||||||
25
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 17 |
Applied Industrial Technologies, Inc |
$ | 862 | |||||
| 400 |
* | ArvinMeritor, Inc |
5,216 | |||||
| 90 |
Astec Industries, Inc |
3,949 | ||||||
| 1,187 |
Barnes Group, Inc |
45,747 | ||||||
| 200 |
Briggs & Stratton Corp |
4,092 | ||||||
| 1,027 |
* | Builders FirstSource, Inc |
7,682 | |||||
| 33 |
* | Chart Industries, Inc |
2,730 | |||||
| 81 |
* | Colfax Corp |
6,038 | |||||
| 2,175 |
Cummins, Inc |
335,581 | ||||||
| 5,764 |
Danaher Corp |
453,800 | ||||||
| 4,223 |
Deere & Co |
382,393 | ||||||
| 644 |
Dover Corp |
58,572 | ||||||
| 3,579 |
Eaton Corp |
276,227 | ||||||
| 72 |
EnerSys |
4,953 | ||||||
| 1,660 |
Fastenal Co |
82,153 | ||||||
| 64 |
Fluor Corp |
4,921 | ||||||
| 100 |
Fortune Brands Home & Security, Inc |
3,993 | ||||||
| 639 |
Graco, Inc |
49,893 | ||||||
| 117 |
* | Hexcel Corp |
4,785 | |||||
| 4,661 |
Illinois Tool Works, Inc |
408,117 | ||||||
| 1,368 |
Ingersoll-Rand plc |
85,514 | ||||||
| 112 |
Joy Global, Inc |
6,897 | ||||||
| 80 |
* | Layne Christensen Co |
1,064 | |||||
| 245 |
Lincoln Electric Holdings, Inc |
17,121 | ||||||
| 4,732 |
Masco Corp |
105,050 | ||||||
| 1,227 |
Nordson Corp |
98,393 | ||||||
| 1,724 |
* | Owens Corning, Inc |
66,684 | |||||
| 2,930 |
Paccar, Inc |
184,092 | ||||||
| 313 |
Pall Corp |
26,727 | ||||||
| 361 |
Parker Hannifin Corp |
45,388 | ||||||
| 1,081 |
Pentair plc |
77,962 | ||||||
| 342 |
* | Polypore International, Inc |
16,324 | |||||
| 1,667 |
Precision Castparts Corp |
420,751 | ||||||
| 1,131 |
* | Quanta Services, Inc |
39,110 | |||||
| 939 |
Rockwell Automation, Inc |
117,525 | ||||||
| 135 |
Rockwell Collins, Inc |
10,549 | ||||||
| 400 |
Roper Industries, Inc |
58,404 | ||||||
| 147 |
Snap-On, Inc |
17,422 | ||||||
| 55 |
TAL International Group, Inc |
2,440 | ||||||
| 818 |
Tennant Co |
62,430 | ||||||
| 143 |
Timken Co |
9,701 | ||||||
| 377 |
* | United Rentals, Inc |
39,483 | |||||
| 23 |
Valmont Industries, Inc |
3,495 | ||||||
| 44 |
W.W. Grainger, Inc |
11,188 | ||||||
| 391 |
* | WABCO Holdings, Inc |
41,767 | |||||
| 36 |
* | WESCO International, Inc |
3,110 | |||||
| 54 |
Westinghouse Air Brake Technologies Corp |
4,460 | ||||||
| 179 |
Woodward Governor Co |
8,982 | ||||||
| 86 |
Xylem, Inc |
3,361 | ||||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
4,614,879 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.6% |
||||||||
| 302 |
Acacia Research (Acacia Technologies) |
5,361 | ||||||
| 2,963 |
* | ACCO Brands Corp |
18,993 | |||||
| 93 |
Corporate Executive Board Co |
6,344 | ||||||
| 245 |
Deluxe Corp |
14,352 | ||||||
| 837 |
Dun & Bradstreet Corp |
92,237 | ||||||
| 217 |
Equifax, Inc |
15,741 | ||||||
| 168 |
HNI Corp |
6,570 | ||||||
| 73 |
* | IHS, Inc (Class A) |
9,904 | |||||
| 190 |
Interface, Inc |
3,580 | ||||||
| 1,174 |
Iron Mountain, Inc |
41,618 | ||||||
| 291 |
Manpower, Inc |
24,691 | ||||||
| 1,111 |
R.R. Donnelley & Sons Co |
18,843 | ||||||
| 1,573 |
Robert Half International, Inc |
75,095 | ||||||
26
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 160 |
* | RPX Corp |
$ | 2,840 | ||||
| 282 |
Tetra Tech, Inc |
7,755 | ||||||
| 1,816 |
Waste Management, Inc |
81,230 | ||||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
425,154 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 1.0% |
||||||||
| 200 |
Callaway Golf Co |
1,664 | ||||||
| 5 |
Columbia Sportswear Co |
413 | ||||||
| 14 |
* | Deckers Outdoor Corp |
1,209 | |||||
| 68 |
Hanesbrands, Inc |
6,694 | ||||||
| 13 |
Hasbro, Inc |
690 | ||||||
| 16 |
* | Iconix Brand Group, Inc |
687 | |||||
| 5,425 |
Mattel, Inc |
211,412 | ||||||
| 72 |
* | Meritage Homes Corp |
3,039 | |||||
| 95 |
* | Mohawk Industries, Inc |
13,142 | |||||
| 200 |
Movado Group, Inc |
8,334 | ||||||
| 4,980 |
Nike, Inc (Class B) |
386,199 | ||||||
| 152 |
Oxford Industries, Inc |
10,134 | ||||||
| 270 |
Ryland Group, Inc |
10,649 | ||||||
| 71 |
* | Tempur-Pedic International, Inc |
4,239 | |||||
| 2 |
Tupperware Corp |
167 | ||||||
| 286 |
* | Under Armour, Inc (Class A) |
17,014 | |||||
| 323 |
VF Corp |
20,349 | ||||||
| 92 |
Whirlpool Corp |
12,808 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
708,843 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 2.5% |
||||||||
| 55 |
Bob Evans Farms, Inc |
2,753 | ||||||
| 200 |
Brinker International, Inc |
9,730 | ||||||
| 75 |
* | Chipotle Mexican Grill, Inc (Class A) |
44,438 | |||||
| 1,063 |
Choice Hotels International, Inc |
50,078 | ||||||
| 932 |
Darden Restaurants, Inc |
43,124 | ||||||
| 13 |
DineEquity, Inc |
1,033 | ||||||
| 128 |
Domino’s Pizza, Inc |
9,356 | ||||||
| 60 |
Dunkin Brands Group, Inc |
2,749 | ||||||
| 3,895 |
Marriott International, Inc (Class A) |
249,669 | ||||||
| 6,026 |
McDonald’s Corp |
607,059 | ||||||
| 4,520 |
* | MGM Mirage |
119,328 | |||||
| 111 |
* | Popeyes Louisiana Kitchen, Inc |
4,852 | |||||
| 333 |
Royal Caribbean Cruises Ltd |
18,515 | ||||||
| 1,081 |
* | Ruby Tuesday, Inc |
8,205 | |||||
| 177 |
* | Sonic Corp |
3,908 | |||||
| 6,116 |
Starbucks Corp |
473,256 | ||||||
| 1,429 |
Starwood Hotels & Resorts Worldwide, Inc |
115,492 | ||||||
| 6 |
Vail Resorts, Inc |
463 | ||||||
| 91 |
Weight Watchers International, Inc |
1,835 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
1,765,843 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 7.0% |
||||||||
| 6,328 |
American Express Co |
600,337 | ||||||
| 12,551 |
Bank of New York Mellon Corp |
470,411 | ||||||
| 1,381 |
BlackRock, Inc |
441,368 | ||||||
| 5,723 |
Capital One Financial Corp |
472,720 | ||||||
| 14,905 |
Charles Schwab Corp |
401,392 | ||||||
| 3,231 |
CME Group, Inc |
229,239 | ||||||
| 34 |
* | Credit Acceptance Corp |
4,185 | |||||
| 6,702 |
Discover Financial Services |
415,390 | ||||||
| 6,734 |
Franklin Resources, Inc |
389,495 | ||||||
| 221 |
* | Green Dot Corp |
4,195 | |||||
| 1,397 |
IntercontinentalExchange Group, Inc |
263,893 | ||||||
| 5,186 |
Invesco Ltd |
195,772 | ||||||
| 466 |
Janus Capital Group, Inc |
5,816 | ||||||
| 566 |
Legg Mason, Inc |
29,041 | ||||||
| 785 |
NASDAQ OMX Group, Inc |
30,317 | ||||||
27
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 5,396 |
Northern Trust Corp |
$ | 346,477 | |||||
| 176 |
* | PHH Corp |
4,044 | |||||
| 5,256 |
State Street Corp |
353,519 | ||||||
| 2,930 |
T Rowe Price Group, Inc |
247,321 | ||||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
4,904,932 | |||||||
|
|
|
|||||||
| ENERGY - 10.0% |
||||||||
| 3,448 |
Apache Corp |
346,938 | ||||||
| 277 |
Baker Hughes, Inc |
20,623 | ||||||
| 113 |
* | C&J Energy Services, Inc |
3,817 | |||||
| 1,826 |
* | Cameron International Corp |
123,639 | |||||
| 56 |
CARBO Ceramics, Inc |
8,631 | ||||||
| 136 |
* | Carrizo Oil & Gas, Inc |
9,419 | |||||
| 1,640 |
* | Cheniere Energy, Inc |
117,588 | |||||
| 1,000 |
Cimarex Energy Co |
143,460 | ||||||
| 2,376 |
* | Clean Energy Fuels Corp |
27,847 | |||||
| 299 |
* | Concho Resources, Inc |
43,206 | |||||
| 433 |
* | Contango Oil & Gas Co |
18,320 | |||||
| 1,504 |
* | Continental Resources, Inc |
237,692 | |||||
| 112 |
Dawson Geophysical Co |
3,209 | ||||||
| 54 |
Denbury Resources, Inc |
997 | ||||||
| 4,666 |
Devon Energy Corp |
370,480 | ||||||
| 4,762 |
EOG Resources, Inc |
556,487 | ||||||
| 2,342 |
Equitable Resources, Inc |
250,360 | ||||||
| 49 |
Exterran Holdings, Inc |
2,205 | ||||||
| 25 |
* | FMC Technologies, Inc |
1,527 | |||||
| 66 |
* | Geospace Technologies Corp |
3,635 | |||||
| 3,941 |
Hess Corp |
389,726 | ||||||
| 2,038 |
* | ION Geophysical Corp |
8,600 | |||||
| 344 |
* | Key Energy Services, Inc |
3,144 | |||||
| 84 |
* | Kinder Morgan Management LLC |
6,630 | |||||
| 6,768 |
* | Kodiak Oil & Gas Corp |
98,474 | |||||
| 8,202 |
Marathon Oil Corp |
327,424 | ||||||
| 4,108 |
Marathon Petroleum Corp |
320,712 | ||||||
| 22 |
* | Matrix Service Co |
721 | |||||
| 4,787 |
National Oilwell Varco, Inc |
394,209 | ||||||
| 103 |
* | Natural Gas Services Group, Inc |
3,405 | |||||
| 2,152 |
Noble Corp plc |
72,221 | ||||||
| 3,833 |
Noble Energy, Inc |
296,904 | ||||||
| 230 |
* | Northern Oil And Gas, Inc |
3,747 | |||||
| 269 |
* | Oasis Petroleum, Inc |
15,034 | |||||
| 4,404 |
Occidental Petroleum Corp |
451,983 | ||||||
| 4 |
Oceaneering International, Inc |
313 | ||||||
| 2 |
* | Oil States International, Inc |
128 | |||||
| 1,573 |
Oneok, Inc |
107,090 | ||||||
| 3 |
* | PDC Energy, Inc |
189 | |||||
| 415 |
* | Petroquest Energy, Inc |
3,121 | |||||
| 4,571 |
Phillips 66 |
367,646 | ||||||
| 1,740 |
Pioneer Natural Resources Co |
399,869 | ||||||
| 1,028 |
Questar Market Resources, Inc |
35,466 | ||||||
| 12 |
Range Resources Corp |
1,043 | ||||||
| 233 |
* | Rex Energy Corp |
4,126 | |||||
| 5 |
* | SEACOR Holdings, Inc |
411 | |||||
| 284 |
* | Solazyme, Inc |
3,346 | |||||
| 1,768 |
* | Southwestern Energy Co |
80,426 | |||||
| 9,859 |
Spectra Energy Corp |
418,810 | ||||||
| 731 |
St. Mary Land & Exploration Co |
61,477 | ||||||
| 893 |
Superior Energy Services |
32,273 | ||||||
| 81 |
Tesoro Corp |
4,752 | ||||||
| 377 |
* | Ultra Petroleum Corp |
11,193 | |||||
| 278 |
* | Unit Corp |
19,135 | |||||
| 10,114 |
* | Weatherford International Ltd |
232,622 | |||||
| 3,337 |
Western Refining, Inc |
125,304 | ||||||
| 1,015 |
* | Whiting Petroleum Corp |
81,454 | |||||
| 4,541 |
Williams Cos, Inc |
264,332 | ||||||
|
|
|
|||||||
| TOTAL ENERGY |
6,937,540 | |||||||
|
|
|
|||||||
28
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| FOOD & STAPLES RETAILING - 1.0% |
||||||||
| 3,726 |
Kroger Co |
$ | 184,176 | |||||
| 3,254 |
Safeway, Inc |
111,742 | ||||||
| 128 |
Spartan Stores, Inc |
2,689 | ||||||
| 8,404 |
Sysco Corp |
314,730 | ||||||
| 1,847 |
Whole Foods Market, Inc |
71,350 | ||||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
684,687 | |||||||
|
|
|
|||||||
| FOOD, BEVERAGE & TOBACCO - 3.6% |
||||||||
| 286 |
Bunge Ltd |
21,633 | ||||||
| 2,696 |
Campbell Soup Co |
123,504 | ||||||
| 1,284 |
ConAgra Foods, Inc |
38,109 | ||||||
| 151 |
* | Darling International, Inc |
3,156 | |||||
| 302 |
Dr Pepper Snapple Group, Inc |
17,691 | ||||||
| 127 |
Flowers Foods, Inc |
2,677 | ||||||
| 7,720 |
General Mills, Inc |
405,609 | ||||||
| 610 |
Hillshire Brands Co |
38,003 | ||||||
| 41 |
Hormel Foods Corp |
2,023 | ||||||
| 413 |
J.M. Smucker Co |
44,013 | ||||||
| 5,263 |
Kellogg Co |
345,779 | ||||||
| 801 |
Keurig Green Mountain, Inc |
99,813 | ||||||
| 1,534 |
Kraft Foods Group, Inc |
91,963 | ||||||
| 771 |
Mead Johnson Nutrition Co |
71,834 | ||||||
| 12,385 |
Mondelez International, Inc |
465,800 | ||||||
| 8,355 |
PepsiCo, Inc |
746,436 | ||||||
| 86 |
Tootsie Roll Industries, Inc |
2,532 | ||||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
2,520,575 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 3.5% |
||||||||
| 12,239 |
Abbott Laboratories |
500,575 | ||||||
| 4,597 |
Aetna, Inc |
372,725 | ||||||
| 79 |
* | Align Technology, Inc |
4,427 | |||||
| 648 |
* | Amedisys, Inc |
10,848 | |||||
| 67 |
AmerisourceBergen Corp |
4,868 | ||||||
| 55 |
* | Amsurg Corp |
2,506 | |||||
| 142 |
* | athenahealth, Inc |
17,768 | |||||
| 3,144 |
Becton Dickinson & Co |
371,935 | ||||||
| 860 |
* | BioScrip, Inc |
7,172 | |||||
| 97 |
* | Brookdale Senior Living, Inc |
3,234 | |||||
| 527 |
* | Centene Corp |
39,846 | |||||
| 188 |
* | Cerner Corp |
9,697 | |||||
| 41 |
Chemed Corp |
3,843 | ||||||
| 1,907 |
Cigna Corp |
175,387 | ||||||
| 111 |
* | DaVita, Inc |
8,028 | |||||
| 55 |
Dentsply International, Inc |
2,604 | ||||||
| 121 |
* | Edwards Lifesciences Corp |
10,387 | |||||
| 305 |
* | Emeritus Corp |
9,653 | |||||
| 434 |
* | ExamWorks Group, Inc |
13,771 | |||||
| 85 |
* | Greatbatch, Inc |
4,170 | |||||
| 147 |
* | Henry Schein, Inc |
17,445 | |||||
| 84 |
* | HMS Holdings Corp |
1,714 | |||||
| 1,218 |
Humana, Inc |
155,563 | ||||||
| 418 |
* | Idexx Laboratories, Inc |
55,832 | |||||
| 599 |
* | Inverness Medical Innovations, Inc |
22,415 | |||||
| 548 |
* | LifePoint Hospitals, Inc |
34,031 | |||||
| 8,071 |
Medtronic, Inc |
514,607 | ||||||
| 534 |
* | Molina Healthcare, Inc |
23,832 | |||||
| 70 |
* | MWI Veterinary Supply, Inc |
9,939 | |||||
| 61 |
Owens & Minor, Inc |
2,073 | ||||||
| 905 |
Patterson Cos, Inc |
35,757 | ||||||
| 35 |
* | Sirona Dental Systems, Inc |
2,886 | |||||
| 193 |
* | Vocera Communications, Inc |
2,548 | |||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
2,452,086 | |||||||
|
|
|
|||||||
29
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 3.2% |
||||||||
| 171 |
Avon Products, Inc |
$ | 2,498 | |||||
| 5 |
Clorox Co |
457 | ||||||
| 7,350 |
Colgate-Palmolive Co |
501,123 | ||||||
| 2,118 |
Estee Lauder Cos (Class A) |
157,283 | ||||||
| 3,102 |
Herbalife Ltd |
200,203 | ||||||
| 3,412 |
Kimberly-Clark Corp |
379,483 | ||||||
| 350 |
* | Medifast, Inc |
10,644 | |||||
| 165 |
Nu Skin Enterprises, Inc (Class A) |
12,203 | ||||||
| 12,341 |
Procter & Gamble Co |
969,879 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
2,233,773 | |||||||
|
|
|
|||||||
| INSURANCE - 5.7% |
||||||||
| 3,692 |
ACE Ltd |
382,860 | ||||||
| 5,938 |
Aflac, Inc |
369,641 | ||||||
| 105 |
Arthur J. Gallagher & Co |
4,893 | ||||||
| 959 |
Aspen Insurance Holdings Ltd |
43,558 | ||||||
| 239 |
Axis Capital Holdings Ltd |
10,583 | ||||||
| 8,056 |
* | Berkshire Hathaway, Inc (Class B) |
1,019,567 | |||||
| 3,814 |
Chubb Corp |
351,536 | ||||||
| 13,163 |
* | Genworth Financial, Inc (Class A) |
229,036 | |||||
| 2,825 |
Hartford Financial Services Group, Inc |
101,163 | ||||||
| 1,559 |
Marsh & McLennan Cos, Inc |
80,787 | ||||||
| 161 |
PartnerRe Ltd |
17,583 | ||||||
| 395 |
Platinum Underwriters Holdings Ltd |
25,616 | ||||||
| 3,647 |
Principal Financial Group |
184,101 | ||||||
| 14 |
ProAssurance Corp |
622 | ||||||
| 9,489 |
Progressive Corp |
240,641 | ||||||
| 5,132 |
Prudential Financial, Inc |
455,568 | ||||||
| 40 |
RenaissanceRe Holdings Ltd |
4,280 | ||||||
| 124 |
Stewart Information Services Corp |
3,845 | ||||||
| 4,523 |
Travelers Cos, Inc |
425,479 | ||||||
| 104 |
Willis Group Holdings plc |
4,503 | ||||||
|
|
|
|||||||
| TOTAL INSURANCE |
3,955,862 | |||||||
|
|
|
|||||||
| MATERIALS - 4.5% |
||||||||
| 3,089 |
Air Products & Chemicals, Inc |
397,307 | ||||||
| 1,222 |
* | Allied Nevada Gold Corp |
4,595 | |||||
| 47 |
Aptargroup, Inc |
3,149 | ||||||
| 1,830 |
Avery Dennison Corp |
93,788 | ||||||
| 611 |
Ball Corp |
38,297 | ||||||
| 6 |
Bemis Co, Inc |
244 | ||||||
| 64 |
Carpenter Technology Corp |
4,048 | ||||||
| 456 |
Celanese Corp (Series A) |
29,312 | ||||||
| 18 |
* | Clearwater Paper Corp |
1,111 | |||||
| 1,284 |
Commercial Metals Co |
22,226 | ||||||
| 110 |
Compass Minerals International, Inc |
10,531 | ||||||
| 92 |
Domtar Corp |
3,942 | ||||||
| 344 |
Eastman Chemical Co |
30,048 | ||||||
| 3,569 |
Ecolab, Inc |
397,372 | ||||||
| 265 |
* | Flotek Industries, Inc |
8,522 | |||||
| 695 |
H.B. Fuller Co |
33,430 | ||||||
| 182 |
Innophos Holdings, Inc |
10,478 | ||||||
| 72 |
International Flavors & Fragrances, Inc |
7,508 | ||||||
| 2,624 |
International Paper Co |
132,433 | ||||||
| 97 |
* | Landec Corp |
1,212 | |||||
| 1,627 |
* | Louisiana-Pacific Corp |
24,438 | |||||
| 4,212 |
LyondellBasell Industries AF S.C.A |
411,302 | ||||||
| 2,132 |
MeadWestvaco Corp |
94,362 | ||||||
| 394 |
Minerals Technologies, Inc |
25,839 | ||||||
| 1,185 |
Mosaic Co |
58,598 | ||||||
| 5,545 |
Nucor Corp |
273,091 | ||||||
| 634 |
* | Owens-Illinois, Inc |
21,962 | |||||
| 121 |
PolyOne Corp |
5,099 | ||||||
30
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 3,153 |
Praxair, Inc |
$ | 418,845 | |||||
| 102 |
Reliance Steel & Aluminum Co |
7,518 | ||||||
| 54 |
Rock-Tenn Co (Class A) |
5,702 | ||||||
| 124 |
Rockwood Holdings, Inc |
9,423 | ||||||
| 1,460 |
Royal Gold, Inc |
111,135 | ||||||
| 157 |
Sealed Air Corp |
5,365 | ||||||
| 183 |
Sherwin-Williams Co |
37,865 | ||||||
| 2,186 |
Sigma-Aldrich Corp |
221,835 | ||||||
| 586 |
* | Stillwater Mining Co |
10,284 | |||||
| 580 |
Valspar Corp |
44,190 | ||||||
| 79 |
Wausau Paper Corp |
855 | ||||||
| 2,846 |
Worthington Industries, Inc |
122,492 | ||||||
|
|
|
|||||||
| TOTAL MATERIALS |
3,139,753 | |||||||
|
|
|
|||||||
| MEDIA - 3.1% |
||||||||
| 1,779 |
Cablevision Systems Corp (Class A) |
31,399 | ||||||
| 156 |
Cinemark Holdings, Inc |
5,516 | ||||||
| 1,162 |
Clear Channel Outdoor Holdings, Inc (Class A) |
9,505 | ||||||
| 703 |
* | DIRECTV |
59,762 | |||||
| 4,123 |
* | Discovery Communications, Inc (Class A) |
306,257 | |||||
| 592 |
* | Discovery Communications, Inc (Class C) |
42,973 | |||||
| 496 |
* | DreamWorks Animation SKG, Inc (Class A) |
11,537 | |||||
| 83 |
John Wiley & Sons, Inc (Class A) |
5,029 | ||||||
| 2,567 |
* | Journal Communications, Inc (Class A) |
22,769 | |||||
| 5,488 |
* | Liberty Global plc |
232,197 | |||||
| 3,999 |
* | Liberty Global plc (Class A) |
176,836 | |||||
| 41,020 |
* | McClatchy Co (Class A) |
227,661 | |||||
| 2,180 |
New York Times Co (Class A) |
33,158 | ||||||
| 149 |
Scripps Networks Interactive (Class A) |
12,090 | ||||||
| 610 |
Sinclair Broadcast Group, Inc (Class A) |
21,198 | ||||||
| 3,056 |
Time Warner Cable, Inc |
450,149 | ||||||
| 7,408 |
Time Warner, Inc |
520,412 | ||||||
|
|
|
|||||||
| TOTAL MEDIA |
2,168,448 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.2% |
||||||||
| 702 |
* | Affymetrix, Inc |
6,255 | |||||
| 3,910 |
Agilent Technologies, Inc |
224,590 | ||||||
| 1,059 |
* | Akorn, Inc |
35,212 | |||||
| 709 |
* | Alexion Pharmaceuticals, Inc |
110,781 | |||||
| 4,884 |
Amgen, Inc |
578,119 | ||||||
| 658 |
* | Auxilium Pharmaceuticals, Inc |
13,200 | |||||
| 936 |
* | AVANIR Pharmaceuticals, Inc |
5,279 | |||||
| 1,651 |
* | Biogen Idec, Inc |
520,577 | |||||
| 11,278 |
Bristol-Myers Squibb Co |
547,096 | ||||||
| 541 |
* | Cambrex Corp |
11,199 | |||||
| 555 |
* | Cepheid, Inc |
26,607 | |||||
| 520 |
* | Depomed, Inc |
7,228 | |||||
| 173 |
* | Endo International plc |
12,113 | |||||
| 8,574 |
* | Gilead Sciences, Inc |
710,870 | |||||
| 1,800 |
* | Incyte Corp |
101,592 | |||||
| 11,924 |
Johnson & Johnson |
1,247,489 | ||||||
| 3,008 |
* | MannKind Corp |
33,058 | |||||
| 14,855 |
Merck & Co, Inc |
859,361 | ||||||
| 23 |
* | Mettler-Toledo International, Inc |
5,823 | |||||
| 2,213 |
* | Nektar Therapeutics |
28,371 | |||||
| 2,037 |
* | Opko Health, Inc |
18,007 | |||||
| 7,568 |
* | Orexigen Therapeutics, Inc |
46,770 | |||||
| 122 |
PerkinElmer, Inc |
5,714 | ||||||
| 1,287 |
* | Salix Pharmaceuticals Ltd |
158,751 | |||||
| 1,256 |
* | Sangamo Biosciences, Inc |
19,179 | |||||
| 1,223 |
* | Sarepta Therapeutics, Inc |
36,433 | |||||
| 24 |
Techne Corp |
2,222 | ||||||
| 1,486 |
Thermo Electron Corp |
175,348 | ||||||
| 165 |
* | United Therapeutics Corp |
14,601 | |||||
31
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,082 |
* | Vertex Pharmaceuticals, Inc |
$ | 102,444 | ||||
| 3,463 |
* | Vivus, Inc |
18,423 | |||||
| 640 |
* | Waters Corp |
66,842 | |||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
5,749,554 | |||||||
|
|
|
|||||||
| REAL ESTATE - 3.9% |
||||||||
| 203 |
American Campus Communities, Inc |
7,763 | ||||||
| 4,626 |
American Tower Corp |
416,247 | ||||||
| 15,297 |
Annaly Capital Management, Inc |
174,845 | ||||||
| 1,224 |
Boston Properties, Inc |
144,652 | ||||||
| 1,999 |
* | CBRE Group, Inc |
64,048 | |||||
| 3,476 |
Crown Castle International Corp |
258,128 | ||||||
| 165 |
Douglas Emmett, Inc |
4,656 | ||||||
| 1,687 |
Duke Realty Corp |
30,636 | ||||||
| 29 |
Equity One, Inc |
684 | ||||||
| 1,322 |
Equity Residential |
83,286 | ||||||
| 3,064 |
First Industrial Realty Trust, Inc |
57,726 | ||||||
| 5,566 |
HCP, Inc |
230,321 | ||||||
| 995 |
Health Care REIT, Inc |
62,357 | ||||||
| 89 |
Healthcare Realty Trust, Inc |
2,262 | ||||||
| 7,515 |
Host Marriott Corp |
165,405 | ||||||
| 15 |
Jones Lang LaSalle, Inc |
1,896 | ||||||
| 14 |
Kilroy Realty Corp |
872 | ||||||
| 325 |
Liberty Property Trust |
12,327 | ||||||
| 554 |
Macerich Co |
36,979 | ||||||
| 213 |
Mid-America Apartment Communities, Inc |
15,560 | ||||||
| 5,363 |
Prologis, Inc |
220,366 | ||||||
| 930 |
Ryman Hospitality Properties |
44,780 | ||||||
| 2,660 |
Simon Property Group, Inc |
442,305 | ||||||
| 988 |
Ventas, Inc |
63,331 | ||||||
| 1,458 |
Vornado Realty Trust |
155,612 | ||||||
| 17 |
Washington REIT |
442 | ||||||
| 149 |
Weyerhaeuser Co |
4,930 | ||||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
2,702,416 | |||||||
|
|
|
|||||||
| RETAILING - 4.5% |
||||||||
| 77 |
Aaron’s, Inc |
2,744 | ||||||
| 1,224 |
American Eagle Outfitters, Inc |
13,733 | ||||||
| 316 |
* | Ann Taylor Stores Corp |
13,000 | |||||
| 473 |
* | AutoZone, Inc |
253,641 | |||||
| 149 |
* | Barnes & Noble, Inc |
3,396 | |||||
| 2,175 |
* | Bed Bath & Beyond, Inc |
124,801 | |||||
| 1,355 |
Best Buy Co, Inc |
42,019 | ||||||
| 62 |
* | Cabela’s, Inc |
3,869 | |||||
| 852 |
* | Carmax, Inc |
44,313 | |||||
| 8 |
Chico’s FAS, Inc |
136 | ||||||
| 650 |
Foot Locker, Inc |
32,968 | ||||||
| 6 |
GameStop Corp (Class A) |
243 | ||||||
| 5,233 |
Gap, Inc |
217,536 | ||||||
| 45 |
* | Genesco, Inc |
3,696 | |||||
| 2,715 |
Genuine Parts Co |
238,377 | ||||||
| 259 |
GNC Holdings, Inc |
8,832 | ||||||
| 515 |
* | HomeAway, Inc |
17,932 | |||||
| 270 |
HSN, Inc |
15,995 | ||||||
| 2,687 |
Kohl’s Corp |
141,551 | ||||||
| 7,799 |
* | Liberty Interactive Corp |
228,979 | |||||
| 202 |
* | LKQ Corp |
5,391 | |||||
| 9,243 |
Lowe’s Companies, Inc |
443,572 | ||||||
| 2,077 |
Macy’s, Inc |
120,508 | ||||||
| 16 |
Men’s Wearhouse, Inc |
893 | ||||||
| 149 |
* | NetFlix, Inc |
65,649 | |||||
| 701 |
Nordstrom, Inc |
47,619 | ||||||
| 1,890 |
* | Office Depot, Inc |
10,754 | |||||
| 1,120 |
* | Orbitz Worldwide, Inc |
9,968 | |||||
| 69 |
* | Outerwall, Inc |
4,095 | |||||
32
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 4 |
Petsmart, Inc |
$ | 239 | |||||
| 278 |
Pier 1 Imports, Inc |
4,284 | ||||||
| 160 |
Ross Stores, Inc |
10,581 | ||||||
| 503 |
* | Shutterfly, Inc |
21,659 | |||||
| 247 |
Signet Jewelers Ltd |
27,316 | ||||||
| 5,903 |
Staples, Inc |
63,989 | ||||||
| 6,192 |
Target Corp |
358,826 | ||||||
| 135 |
Tiffany & Co |
13,534 | ||||||
| 7,033 |
TJX Companies, Inc |
373,804 | ||||||
| 1,078 |
* | TripAdvisor, Inc |
117,135 | |||||
| 7 |
Williams-Sonoma, Inc |
502 | ||||||
|
|
|
|||||||
| TOTAL RETAILING |
3,108,079 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.7% |
||||||||
| 652 |
* | Advanced Micro Devices, Inc |
2,732 | |||||
| 109 |
Analog Devices, Inc |
5,894 | ||||||
| 18,830 |
Applied Materials, Inc |
424,616 | ||||||
| 125 |
* | Cirrus Logic, Inc |
2,842 | |||||
| 26,949 |
Intel Corp |
832,724 | ||||||
| 170 |
* | Lam Research Corp |
11,489 | |||||
| 111 |
Microchip Technology, Inc |
5,418 | ||||||
| 5,688 |
* | ON Semiconductor Corp |
51,988 | |||||
| 910 |
* | Skyworks Solutions, Inc |
42,734 | |||||
| 937 |
* | SunPower Corp |
38,398 | |||||
| 315 |
Teradyne, Inc |
6,174 | ||||||
| 9,869 |
Texas Instruments, Inc |
471,640 | ||||||
| 419 |
* | Triquint Semiconductor, Inc |
6,624 | |||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
1,903,273 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 9.7% |
||||||||
| 5,486 |
Accenture plc |
443,488 | ||||||
| 5,653 |
* | Adobe Systems, Inc |
409,051 | |||||
| 882 |
* | Angie’s List, Inc |
10,531 | |||||
| 2,386 |
* | AOL, Inc |
94,939 | |||||
| 2,051 |
* | Autodesk, Inc |
115,635 | |||||
| 1,295 |
* | Brightcove, Inc |
13,649 | |||||
| 1,228 |
Broadridge Financial Solutions, Inc |
51,134 | ||||||
| 4,890 |
CA, Inc |
140,539 | ||||||
| 191 |
* | Cadence Design Systems, Inc |
3,341 | |||||
| 7,720 |
* | Cognizant Technology Solutions Corp (Class A) |
377,585 | |||||
| 1,237 |
Compuware Corp |
12,358 | ||||||
| 148 |
* | comScore, Inc |
5,251 | |||||
| 155 |
Convergys Corp |
3,323 | ||||||
| 515 |
* | Conversant, Inc |
13,081 | |||||
| 5,583 |
* | Demand Media, Inc |
26,910 | |||||
| 49 |
Factset Research Systems, Inc |
5,894 | ||||||
| 54 |
Fair Isaac Corp |
3,443 | ||||||
| 239 |
* | Fortinet, Inc |
6,006 | |||||
| 1,536 |
* | Glu Mobile, Inc |
7,680 | |||||
| 1,399 |
* | Google, Inc |
804,817 | |||||
| 1,389 |
* | Google, Inc (Class A) |
812,107 | |||||
| 34 |
* | Higher One Holdings, Inc |
130 | |||||
| 883 |
* | Informatica Corp |
31,479 | |||||
| 4,723 |
International Business Machines Corp |
856,138 | ||||||
| 4,177 |
Intuit, Inc |
336,374 | ||||||
| 162 |
j2 Global, Inc |
8,239 | ||||||
| 533 |
* | Liquidity Services, Inc |
8,400 | |||||
| 180 |
* | Marketo, Inc |
5,234 | |||||
| 399 |
Mercadolibre, Inc |
38,065 | ||||||
| 55 |
* | NetSuite, Inc |
4,778 | |||||
| 189 |
* | NeuStar, Inc (Class A) |
4,918 | |||||
| 304 |
* | OpenTable, Inc |
31,494 | |||||
| 18,538 |
Oracle Corp |
751,345 | ||||||
| 613 |
* | QuinStreet, Inc |
3,378 | |||||
33
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 233 |
* | Rally Software Development Corp |
$ | 2,537 | ||||
| 6,281 |
* | Salesforce.com, Inc |
364,801 | |||||
| 233 |
* | ServiceSource International LLC |
1,351 | |||||
| 123 |
* | SolarWinds, Inc |
4,755 | |||||
| 10,112 |
Symantec Corp |
231,565 | ||||||
| 59 |
* | Syntel, Inc |
5,072 | |||||
| 214 |
* | Teradata Corp |
8,603 | |||||
| 67 |
* | Ultimate Software Group, Inc |
9,257 | |||||
| 150 |
* | Unisys Corp |
3,711 | |||||
| 27,414 |
Xerox Corp |
341,030 | ||||||
| 10,593 |
* | Yahoo!, Inc |
372,132 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
6,785,548 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 4.5% |
||||||||
| 1,143 |
* | Aruba Networks, Inc |
20,025 | |||||
| 41 |
Belden CDT, Inc |
3,205 | ||||||
| 147 |
* | Benchmark Electronics, Inc |
3,746 | |||||
| 2,407 |
Black Box Corp |
56,420 | ||||||
| 30,441 |
Cisco Systems, Inc |
756,459 | ||||||
| 42 |
* | Cognex Corp |
1,613 | |||||
| 3,600 |
Corning, Inc |
79,020 | ||||||
| 2,104 |
* | Cray, Inc |
55,966 | |||||
| 9 |
* | DTS, Inc |
166 | |||||
| 17,556 |
EMC Corp |
462,425 | ||||||
| 1,050 |
* | Finisar Corp |
20,737 | |||||
| 707 |
* | Flextronics International Ltd |
7,826 | |||||
| 3,502 |
* | Fusion-io, Inc |
39,573 | |||||
| 15,800 |
Hewlett-Packard Co |
532,144 | ||||||
| 345 |
* | Ingram Micro, Inc (Class A) |
10,077 | |||||
| 169 |
InterDigital, Inc |
8,078 | ||||||
| 306 |
* | IPG Photonics Corp |
21,053 | |||||
| 14 |
* | Itron, Inc |
568 | |||||
| 462 |
Jabil Circuit, Inc |
9,656 | ||||||
| 554 |
Lexmark International, Inc (Class A) |
26,681 | ||||||
| 1,956 |
Motorola, Inc |
130,211 | ||||||
| 60 |
* | Netgear, Inc |
2,086 | |||||
| 645 |
* | Oplink Communications, Inc |
10,946 | |||||
| 18 |
Plantronics, Inc |
865 | ||||||
| 494 |
* | QLogic Corp |
4,984 | |||||
| 8,823 |
Qualcomm, Inc |
698,782 | ||||||
| 227 |
* | RealD, Inc |
2,896 | |||||
| 2,185 |
Seagate Technology, Inc |
124,152 | ||||||
| 172 |
* | Super Micro Computer, Inc |
4,346 | |||||
| 26 |
* | Tech Data Corp |
1,625 | |||||
| 184 |
* | TTM Technologies, Inc |
1,509 | |||||
| 87 |
* | Universal Display Corp |
2,793 | |||||
| 74 |
* | Vishay Precision Group, Inc |
1,218 | |||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
3,101,851 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 2.1% |
||||||||
| 10,509 |
CenturyTel, Inc |
380,426 | ||||||
| 1,541 |
* | Cincinnati Bell, Inc |
6,056 | |||||
| 234 |
* | Level 3 Communications, Inc |
10,275 | |||||
| 33,106 |
* | Sprint Corp |
282,394 | |||||
| 674 |
* | tw telecom inc (Class A) |
27,169 | |||||
| 14,675 |
Verizon Communications, Inc |
718,048 | ||||||
| 1,213 |
* | Vonage Holdings Corp |
4,548 | |||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
1,428,916 | |||||||
|
|
|
|||||||
| TRANSPORTATION - 2.3% |
||||||||
| 961 |
Alaska Air Group, Inc |
91,343 | ||||||
| 8 |
Allegiant Travel Co |
942 | ||||||
| 195 |
* | Avis Budget Group, Inc |
11,640 | |||||
| 6 |
CH Robinson Worldwide, Inc |
383 | ||||||
34
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 11,064 |
CSX Corp |
$ | 340,882 | |||||
| 34 |
* | Genesee & Wyoming, Inc (Class A) |
3,570 | |||||
| 2,704 |
Norfolk Southern Corp |
278,593 | ||||||
| 6 |
Ryder System, Inc |
528 | ||||||
| 3,412 |
Union Pacific Corp |
340,347 | ||||||
| 5,255 |
United Parcel Service, Inc (Class B) |
539,478 | ||||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
1,607,706 | |||||||
|
|
|
|||||||
| UTILITIES - 3.5% |
||||||||
| 184 |
American States Water Co |
6,114 | ||||||
| 102 |
American Water Works Co, Inc |
5,044 | ||||||
| 2,528 |
* | Calpine Corp |
60,192 | |||||
| 2,497 |
Centerpoint Energy, Inc |
63,773 | ||||||
| 3,637 |
Cleco Corp |
214,401 | ||||||
| 4,677 |
Consolidated Edison, Inc |
270,050 | ||||||
| 2,052 |
Duke Energy Corp |
152,238 | ||||||
| 57 |
Integrys Energy Group, Inc |
4,054 | ||||||
| 4 |
ITC Holdings Corp |
146 | ||||||
| 103 |
MDU Resources Group, Inc |
3,615 | ||||||
| 886 |
MGE Energy, Inc |
35,006 | ||||||
| 110 |
New Jersey Resources Corp |
6,288 | ||||||
| 4,575 |
NextEra Energy, Inc |
468,846 | ||||||
| 6,329 |
NiSource, Inc |
248,983 | ||||||
| 3,345 |
Northeast Utilities |
158,118 | ||||||
| 8,717 |
Pepco Holdings, Inc |
239,543 | ||||||
| 2,006 |
Piedmont Natural Gas Co, Inc |
75,044 | ||||||
| 3 |
Pinnacle West Capital Corp |
174 | ||||||
| 326 |
Public Service Enterprise Group, Inc |
13,298 | ||||||
| 2,619 |
Sempra Energy |
274,236 | ||||||
| 211 |
SJW Corp |
5,739 | ||||||
| 478 |
South Jersey Industries, Inc |
28,876 | ||||||
| 926 |
TECO Energy, Inc |
17,112 | ||||||
| 77 |
UGI Corp |
3,889 | ||||||
| 280 |
WGL Holdings, Inc |
12,068 | ||||||
| 414 |
Wisconsin Energy Corp |
19,425 | ||||||
| 1,100 |
Xcel Energy, Inc |
35,453 | ||||||
|
|
|
|||||||
| TOTAL UTILITIES |
2,421,725 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS |
69,146,293 | |||||||
|
|
|
|||||||
| (Cost $47,284,055) |
||||||||
| TOTAL INVESTMENTS - 99.2% |
69,146,293 | |||||||
| (Cost $47,284,055) |
||||||||
| OTHER ASSETS & LIABILITIES, NET - 0.8% |
563,334 | |||||||
|
|
|
|||||||
| NET ASSETS - 100.0% |
$ | 69,709,627 | ||||||
|
|
|
|||||||
| Abbreviation(s): | ||
| REIT | Real Estate Investment Trust | |
| * | Non-income producing. |
35
TIAA-CREF LIFE FUNDS - Stock Index Fund
TIAA-CREF LIFE FUNDS
STOCK INDEX FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2014
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 100.0% |
| |||||||
| AUTOMOBILES & COMPONENTS - 1.2% |
||||||||
| 908 |
* | American Axle & Manufacturing Holdings, Inc |
$ | 17,152 | ||||
| 3,067 |
BorgWarner, Inc |
199,938 | ||||||
| 852 |
Cooper Tire & Rubber Co |
25,560 | ||||||
| 183 |
* | Cooper-Standard Holding, Inc |
12,107 | |||||
| 2,095 |
Dana Holding Corp |
51,160 | ||||||
| 77 |
Delphi Automotive plc |
5,293 | ||||||
| 376 |
*,e | Dorman Products, Inc |
18,544 | |||||
| 317 |
Drew Industries, Inc |
15,853 | ||||||
| 372 |
* | Federal Mogul Corp (Class A) |
7,526 | |||||
| 52,095 |
Ford Motor Co |
898,118 | ||||||
| 150 |
* | Fox Factory Holding Corp |
2,639 | |||||
| 280 |
* | Fuel Systems Solutions, Inc |
3,119 | |||||
| 21,513 |
General Motors Co |
780,922 | ||||||
| 2,027 |
Gentex Corp |
58,965 | ||||||
| 474 |
* | Gentherm, Inc |
21,069 | |||||
| 3,308 |
Goodyear Tire & Rubber Co |
91,896 | ||||||
| 2,938 |
Harley-Davidson, Inc |
205,219 | ||||||
| 8,909 |
Johnson Controls, Inc |
444,826 | ||||||
| 1,092 |
Lear Corp |
97,537 | ||||||
| 671 |
* | Modine Manufacturing Co |
10,562 | |||||
| 201 |
* | Motorcar Parts of America, Inc |
4,894 | |||||
| 180 |
Remy International, Inc |
4,203 | ||||||
| 113 |
* | Shiloh Industries, Inc |
2,086 | |||||
| 355 |
Spartan Motors, Inc |
1,612 | ||||||
| 260 |
Standard Motor Products, Inc |
11,614 | ||||||
| 449 |
* | Stoneridge, Inc |
4,813 | |||||
| 47 |
Strattec Security Corp |
3,031 | ||||||
| 280 |
Superior Industries International, Inc |
5,774 | ||||||
| 817 |
* | Tenneco, Inc |
53,677 | |||||
| 1,275 |
*,e | Tesla Motors, Inc |
306,077 | |||||
| 632 |
Thor Industries, Inc |
35,942 | ||||||
| 266 |
* | Tower International, Inc |
9,799 | |||||
| 1,486 |
* | TRW Automotive Holdings Corp |
133,027 | |||||
| 654 |
* | Visteon Corp |
63,445 | |||||
| 353 |
* | Winnebago Industries, Inc |
8,889 | |||||
|
|
|
|||||||
| TOTAL AUTOMOBILES & COMPONENTS |
3,616,888 | |||||||
|
|
|
|||||||
| BANKS - 5.8% |
||||||||
| 180 |
1st Source Corp |
5,512 | ||||||
| 396 |
1st United Bancorp, Inc |
3,414 | ||||||
| 90 |
Access National Corp |
1,364 | ||||||
| 98 |
American National Bankshares, Inc |
2,130 | ||||||
| 337 |
* | Ameris Bancorp |
7,266 | |||||
| 77 |
e | Ames National Corp |
1,782 | |||||
| 430 |
Apollo Residential Mortgage |
7,190 | ||||||
| 112 |
e | Arrow Financial Corp |
2,905 | |||||
| 2,146 |
Associated Banc-Corp |
38,800 | ||||||
| 1,174 |
Astoria Financial Corp |
15,790 | ||||||
| 110 |
Banc of California, Inc |
1,199 | ||||||
| 130 |
Bancfirst Corp |
8,047 | ||||||
| 399 |
Banco Latinoamericano de Exportaciones S.A. (Class E) |
11,838 | ||||||
| 1,288 |
Bancorpsouth, Inc |
31,646 | ||||||
| 838 |
Bank Mutual Corp |
4,860 | ||||||
| 141,339 |
Bank of America Corp |
2,172,380 | ||||||
| 762 |
Bank of Hawaii Corp |
44,722 | ||||||
| 70 |
Bank of Kentucky Financial Corp |
2,435 | ||||||
36
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 61 |
Bank of Marin Bancorp |
$ | 2,781 | |||||
| 1,069 |
Bank of the Ozarks, Inc |
35,758 | ||||||
| 300 |
BankFinancial Corp |
3,348 | ||||||
| 845 |
BankUnited |
28,291 | ||||||
| 263 |
Banner Corp |
10,423 | ||||||
| 9,095 |
BB&T Corp |
358,616 | ||||||
| 982 |
BBCN Bancorp, Inc |
15,663 | ||||||
| 115 |
* | BBX Capital Corp |
2,070 | |||||
| 40 |
*,e | Bear State Financial, Inc |
355 | |||||
| 392 |
* | Beneficial Mutual Bancorp, Inc |
5,316 | |||||
| 337 |
Berkshire Hills Bancorp, Inc |
7,825 | ||||||
| 233 |
e | BNC Bancorp |
3,977 | |||||
| 190 |
* | BofI Holding, Inc |
13,959 | |||||
| 416 |
BOK Financial Corp |
27,706 | ||||||
| 1,073 |
Boston Private Financial Holdings, Inc |
14,421 | ||||||
| 156 |
Bridge Bancorp, Inc |
3,742 | ||||||
| 132 |
* | Bridge Capital Holdings |
3,196 | |||||
| 771 |
Brookline Bancorp, Inc |
7,224 | ||||||
| 86 |
Bryn Mawr Bank Corp |
2,504 | ||||||
| 40 |
C&F Financial Corp |
1,440 | ||||||
| 87 |
Camden National Corp |
3,372 | ||||||
| 321 |
* | Capital Bank Financial Corp |
7,579 | |||||
| 101 |
Capital City Bank Group, Inc |
1,468 | ||||||
| 1,920 |
Capitol Federal Financial |
23,347 | ||||||
| 286 |
Cardinal Financial Corp |
5,280 | ||||||
| 333 |
* | Cascade Bancorp |
1,735 | |||||
| 1,068 |
Cathay General Bancorp |
27,298 | ||||||
| 477 |
Centerstate Banks of Florida, Inc |
5,342 | ||||||
| 188 |
Central Pacific Financial Corp |
3,732 | ||||||
| 47 |
Century Bancorp, Inc |
1,661 | ||||||
| 301 |
Charter Financial Corp |
3,341 | ||||||
| 401 |
Chemical Financial Corp |
11,260 | ||||||
| 2,611 |
CIT Group, Inc |
119,479 | ||||||
| 40,878 |
Citigroup, Inc |
1,925,354 | ||||||
| 167 |
Citizens & Northern Corp |
3,255 | ||||||
| 211 |
e | City Holding Co |
9,520 | |||||
| 647 |
City National Corp |
49,017 | ||||||
| 109 |
Clifton Bancorp, Inc |
1,381 | ||||||
| 194 |
CNB Financial Corp |
3,259 | ||||||
| 395 |
CoBiz, Inc |
4,254 | ||||||
| 674 |
Columbia Banking System, Inc |
17,733 | ||||||
| 2,437 |
Comerica, Inc |
122,240 | ||||||
| 1,165 |
Commerce Bancshares, Inc |
54,172 | ||||||
| 628 |
Community Bank System, Inc |
22,734 | ||||||
| 200 |
Community Trust Bancorp, Inc |
6,844 | ||||||
| 130 |
*,e | CommunityOne Bancorp |
1,261 | |||||
| 150 |
* | ConnectOne Bancorp, Inc |
2,884 | |||||
| 56 |
ConnectOne Bancorp, Inc (Old) |
2,794 | ||||||
| 134 |
* | CU Bancorp |
2,555 | |||||
| 732 |
Cullen/Frost Bankers, Inc |
58,135 | ||||||
| 343 |
* | Customers Bancorp, Inc |
6,867 | |||||
| 1,421 |
CVB Financial Corp |
22,779 | ||||||
| 440 |
Dime Community Bancshares |
6,948 | ||||||
| 288 |
* | Eagle Bancorp, Inc |
9,720 | |||||
| 1,924 |
East West Bancorp, Inc |
67,321 | ||||||
| 100 |
Enterprise Bancorp, Inc |
2,063 | ||||||
| 265 |
Enterprise Financial Services Corp |
4,786 | ||||||
| 158 |
ESB Financial Corp |
2,045 | ||||||
| 559 |
* | Essent Group Ltd |
11,230 | |||||
| 1,060 |
EverBank Financial Corp |
21,370 | ||||||
| 115 |
Federal Agricultural Mortgage Corp (Class C) |
3,574 | ||||||
| 222 |
Fidelity Southern Corp |
2,884 | ||||||
| 11,409 |
Fifth Third Bancorp |
243,582 | ||||||
| 126 |
Financial Institutions, Inc |
2,951 | ||||||
| 264 |
First Bancorp (NC) |
4,844 | ||||||
37
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,398 |
* | First Bancorp (Puerto Rico) |
$ | 7,605 | ||||
| 107 |
First Bancorp, Inc |
1,868 | ||||||
| 972 |
First Busey Corp |
5,647 | ||||||
| 53 |
First Business Financial Services, Inc |
2,493 | ||||||
| 101 |
First Citizens Bancshares, Inc (Class A) |
24,745 | ||||||
| 1,229 |
First Commonwealth Financial Corp |
11,331 | ||||||
| 189 |
First Community Bancshares, Inc |
2,708 | ||||||
| 406 |
First Connecticut Bancorp |
6,516 | ||||||
| 120 |
First Defiance Financial Corp |
3,444 | ||||||
| 747 |
First Financial Bancorp |
12,856 | ||||||
| 896 |
e | First Financial Bankshares, Inc |
28,108 | |||||
| 188 |
First Financial Corp |
6,052 | ||||||
| 200 |
First Financial Northwest, Inc |
2,174 | ||||||
| 3,378 |
First Horizon National Corp |
40,063 | ||||||
| 243 |
First Interstate Bancsystem, Inc |
6,605 | ||||||
| 557 |
First Merchants Corp |
11,775 | ||||||
| 1,128 |
First Midwest Bancorp, Inc |
19,210 | ||||||
| 200 |
* | First NBC Bank Holding Co |
6,702 | |||||
| 4,768 |
First Niagara Financial Group, Inc |
41,672 | ||||||
| 108 |
First of Long Island Corp |
4,221 | ||||||
| 1,846 |
First Republic Bank |
101,512 | ||||||
| 2,172 |
FirstMerit Corp |
42,897 | ||||||
| 255 |
* | Flagstar Bancorp, Inc |
4,615 | |||||
| 358 |
Flushing Financial Corp |
7,357 | ||||||
| 2,437 |
FNB Corp |
31,242 | ||||||
| 185 |
Fox Chase Bancorp, Inc |
3,119 | ||||||
| 170 |
* | Franklin Financial Corp |
3,689 | |||||
| 2,742 |
Fulton Financial Corp |
33,973 | ||||||
| 177 |
German American Bancorp, Inc |
4,793 | ||||||
| 999 |
Glacier Bancorp, Inc |
28,352 | ||||||
| 135 |
Great Southern Bancorp, Inc |
4,327 | ||||||
| 185 |
Guaranty Bancorp |
2,571 | ||||||
| 222 |
*,e | Hampton Roads Bankshares, Inc |
384 | |||||
| 1,231 |
Hancock Holding Co |
43,479 | ||||||
| 554 |
Hanmi Financial Corp |
11,678 | ||||||
| 211 |
Heartland Financial USA, Inc |
5,218 | ||||||
| 279 |
Heritage Commerce Corp |
2,279 | ||||||
| 221 |
Heritage Financial Corp |
3,556 | ||||||
| 260 |
* | Heritage Oaks Bancorp |
1,984 | |||||
| 20 |
Hingham Institution for Savings |
1,588 | ||||||
| 90 |
*,e | Home Bancorp, Inc |
1,982 | |||||
| 726 |
Home Bancshares, Inc |
23,827 | ||||||
| 958 |
Home Loan Servicing Solutions Ltd |
21,775 | ||||||
| 108 |
HomeStreet, Inc |
1,984 | ||||||
| 265 |
* | HomeTrust Bancshares, Inc |
4,179 | |||||
| 123 |
Horizon Bancorp |
2,686 | ||||||
| 7,093 |
Hudson City Bancorp, Inc |
69,724 | ||||||
| 171 |
Hudson Valley Holding Corp |
3,087 | ||||||
| 11,104 |
Huntington Bancshares, Inc |
105,932 | ||||||
| 463 |
IBERIABANK Corp |
32,035 | ||||||
| 321 |
Independent Bank Corp (MA) |
12,320 | ||||||
| 308 |
Independent Bank Corp (MI) |
3,964 | ||||||
| 123 |
Independent Bank Group, Inc |
6,847 | ||||||
| 730 |
International Bancshares Corp |
19,710 | ||||||
| 3,158 |
Investors Bancorp, Inc |
34,896 | ||||||
| 51,130 |
JPMorgan Chase & Co |
2,946,111 | ||||||
| 227 |
* | Kearny Financial Corp |
3,437 | |||||
| 12,102 |
Keycorp |
173,422 | ||||||
| 204 |
* | Ladder Capital Corp |
3,686 | |||||
| 510 |
Lakeland Bancorp, Inc |
5,505 | ||||||
| 350 |
Lakeland Financial Corp |
13,356 | ||||||
| 1,764 |
e | M&T Bank Corp |
218,824 | |||||
| 351 |
Macatawa Bank Corp |
1,780 | ||||||
| 216 |
MainSource Financial Group, Inc |
3,726 | ||||||
| 740 |
MB Financial, Inc |
20,017 | ||||||
| 226 |
Mercantile Bank Corp |
5,171 | ||||||
38
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 60 |
Merchants Bancshares, Inc |
$ | 1,919 | |||||
| 119 |
* | Meridian Interstate Bancorp, Inc |
3,056 | |||||
| 4,541 |
* | MGIC Investment Corp |
41,959 | |||||
| 70 |
Middleburg Financial Corp |
1,400 | ||||||
| 112 |
Midsouth Bancorp, Inc |
2,228 | ||||||
| 90 |
MidWestOne Financial Group, Inc |
2,159 | ||||||
| 50 |
e | NASB Financial, Inc |
1,182 | |||||
| 684 |
National Bank Holdings Corp |
13,639 | ||||||
| 84 |
e | National Bankshares, Inc |
2,595 | |||||
| 1,529 |
National Penn Bancshares, Inc |
16,177 | ||||||
| 243 |
*,e | Nationstar Mortgage Holdings, Inc |
8,821 | |||||
| 586 |
NBT Bancorp, Inc |
14,076 | ||||||
| 5,893 |
e | New York Community Bancorp, Inc |
94,170 | |||||
| 451 |
* | NewBridge Bancorp |
3,635 | |||||
| 644 |
* | NMI Holdings, Inc |
6,762 | |||||
| 718 |
Northfield Bancorp, Inc |
9,413 | ||||||
| 80 |
Northrim BanCorp, Inc |
2,046 | ||||||
| 1,214 |
Northwest Bancshares, Inc |
16,474 | ||||||
| 180 |
OceanFirst Financial Corp |
2,981 | ||||||
| 1,434 |
* | Ocwen Financial Corp |
53,201 | |||||
| 596 |
OFG Bancorp |
10,972 | ||||||
| 112 |
Old Line Bancshares, Inc |
1,765 | ||||||
| 1,471 |
Old National Bancorp |
21,006 | ||||||
| 148 |
OmniAmerican Bancorp, Inc |
3,700 | ||||||
| 670 |
Oritani Financial Corp |
10,311 | ||||||
| 241 |
Pacific Continental Corp |
3,309 | ||||||
| 208 |
* | Pacific Premier Bancorp, Inc |
2,931 | |||||
| 1,367 |
PacWest Bancorp |
59,013 | ||||||
| 165 |
e | Park National Corp |
12,738 | |||||
| 360 |
Park Sterling Bank |
2,372 | ||||||
| 139 |
Peapack Gladstone Financial Corp |
2,948 | ||||||
| 47 |
Penns Woods Bancorp, Inc |
2,214 | ||||||
| 164 |
* | Pennsylvania Commerce Bancorp, Inc |
3,792 | |||||
| 165 |
* | PennyMac Financial Services, Inc |
2,506 | |||||
| 146 |
Peoples Bancorp, Inc |
3,862 | ||||||
| 101 |
Peoples Financial Services Corp |
5,190 | ||||||
| 4,161 |
People’s United Financial, Inc |
63,122 | ||||||
| 477 |
Pinnacle Financial Partners, Inc |
18,832 | ||||||
| 6,978 |
PNC Financial Services Group, Inc |
621,391 | ||||||
| 1,355 |
* | Popular, Inc |
46,314 | |||||
| 147 |
* | Preferred Bank |
3,475 | |||||
| 961 |
PrivateBancorp, Inc |
27,927 | ||||||
| 935 |
Prosperity Bancshares, Inc |
58,531 | ||||||
| 120 |
Provident Financial Holdings, Inc |
1,745 | ||||||
| 753 |
Provident Financial Services, Inc |
13,042 | ||||||
| 2,562 |
Radian Group, Inc |
37,943 | ||||||
| 18,532 |
Regions Financial Corp |
196,810 | ||||||
| 323 |
Renasant Corp |
9,390 | ||||||
| 120 |
Republic Bancorp, Inc (Class A) |
2,846 | ||||||
| 415 |
* | Republic First Bancorp, Inc |
2,092 | |||||
| 300 |
S&T Bancorp, Inc |
7,455 | ||||||
| 336 |
Sandy Spring Bancorp, Inc |
8,370 | ||||||
| 180 |
* | Seacoast Banking Corp of Florida |
1,957 | |||||
| 163 |
Sierra Bancorp |
2,575 | ||||||
| 639 |
* | Signature Bank |
80,629 | |||||
| 207 |
Simmons First National Corp (Class A) |
8,154 | ||||||
| 337 |
South State Corp |
20,557 | ||||||
| 226 |
e | Southside Bancshares, Inc |
6,545 | |||||
| 265 |
Southwest Bancorp, Inc |
4,521 | ||||||
| 397 |
State Bank & Trust Co |
6,713 | ||||||
| 822 |
Sterling Bancorp/DE |
9,864 | ||||||
| 210 |
Stock Yards Bancorp, Inc |
6,279 | ||||||
| 134 |
Stonegate Bank |
3,377 | ||||||
| 192 |
* | Stonegate Mortgage Corp |
2,678 | |||||
| 155 |
* | Suffolk Bancorp |
3,458 | |||||
39
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 470 |
* | Sun Bancorp, Inc |
$ | 1,885 | ||||
| 6,926 |
SunTrust Banks, Inc |
277,456 | ||||||
| 2,517 |
Susquehanna Bancshares, Inc |
26,580 | ||||||
| 676 |
* | SVB Financial Group |
78,835 | |||||
| 1,863 |
Synovus Financial Corp |
45,420 | ||||||
| 240 |
* | Talmer Bancorp Inc |
3,310 | |||||
| 235 |
* | Taylor Capital Group, Inc |
5,024 | |||||
| 2,235 |
TCF Financial Corp |
36,587 | ||||||
| 150 |
Territorial Bancorp, Inc |
3,132 | ||||||
| 578 |
* | Texas Capital Bancshares, Inc |
31,183 | |||||
| 1,012 |
* | TFS Financial Corp |
14,431 | |||||
| 434 |
* | The Bancorp, Inc |
5,169 | |||||
| 199 |
Tompkins Trustco, Inc |
9,588 | ||||||
| 396 |
TowneBank |
6,221 | ||||||
| 80 |
* | Tree.com, Inc |
2,331 | |||||
| 171 |
Trico Bancshares |
3,957 | ||||||
| 296 |
* | Tristate Capital Holdings, Inc |
4,182 | |||||
| 1,974 |
Trustco Bank Corp NY |
13,186 | ||||||
| 885 |
Trustmark Corp |
21,851 | ||||||
| 493 |
UMB Financial Corp |
31,251 | ||||||
| 2,456 |
Umpqua Holdings Corp |
44,012 | ||||||
| 621 |
Union Bankshares Corp |
15,929 | ||||||
| 1,044 |
United Bankshares, Inc |
33,753 | ||||||
| 671 |
United Community Banks, Inc |
10,984 | ||||||
| 707 |
United Financial Bancorp, Inc (New) |
9,580 | ||||||
| 198 |
Univest Corp of Pennsylvania |
4,099 | ||||||
| 23,044 |
US Bancorp |
998,266 | ||||||
| 2,958 |
e | Valley National Bancorp |
29,314 | |||||
| 284 |
*,e | VantageSouth Bancshares, Inc |
1,690 | |||||
| 426 |
ViewPoint Financial Group |
11,464 | ||||||
| 249 |
* | Walker & Dunlop, Inc |
3,513 | |||||
| 1,359 |
Washington Federal, Inc |
30,482 | ||||||
| 138 |
Washington Trust Bancorp, Inc |
5,074 | ||||||
| 98 |
Waterstone Financial, Inc |
1,118 | ||||||
| 1,184 |
Webster Financial Corp |
37,343 | ||||||
| 64,064 |
Wells Fargo & Co |
3,367,204 | ||||||
| 352 |
WesBanco, Inc |
10,926 | ||||||
| 189 |
West Bancorporation, Inc |
2,878 | ||||||
| 398 |
e | Westamerica Bancorporation |
20,807 | |||||
| 1,012 |
* | Western Alliance Bancorp |
24,086 | |||||
| 1,094 |
Wilshire Bancorp, Inc |
11,235 | ||||||
| 624 |
Wintrust Financial Corp |
28,704 | ||||||
| 120 |
WSFS Financial Corp |
8,840 | ||||||
| 189 |
* | Yadkin Financial Corp |
3,561 | |||||
| 2,581 |
Zions Bancorporation |
76,062 | ||||||
|
|
|
|||||||
| TOTAL BANKS |
17,287,153 | |||||||
|
|
|
|||||||
| CAPITAL GOODS - 8.1% |
||||||||
| 8,725 |
3M Co |
1,249,769 | ||||||
| 1,014 |
A.O. Smith Corp |
50,274 | ||||||
| 834 |
Aaon, Inc |
27,956 | ||||||
| 468 |
AAR Corp |
12,898 | ||||||
| 654 |
* | Accuride Corp |
3,198 | |||||
| 385 |
Aceto Corp |
6,984 | ||||||
| 956 |
Actuant Corp (Class A) |
33,049 | ||||||
| 580 |
Acuity Brands, Inc |
80,185 | ||||||
| 1,391 |
* | Aecom Technology Corp |
44,790 | |||||
| 466 |
* | Aegion Corp |
10,844 | |||||
| 288 |
* | Aerovironment, Inc |
9,158 | |||||
| 1,275 |
AGCO Corp |
71,680 | ||||||
| 1,344 |
Air Lease Corp |
51,852 | ||||||
| 892 |
Aircastle Ltd |
15,851 | ||||||
| 78 |
Alamo Group, Inc |
4,219 | ||||||
| 401 |
Albany International Corp (Class A) |
15,222 | ||||||
| 1,314 |
Allegion plc |
74,478 | ||||||
40
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 429 |
Alliant Techsystems, Inc |
$ | 57,452 | |||||
| 1,811 |
Allison Transmission Holdings, Inc |
56,322 | ||||||
| 296 |
Altra Holdings, Inc |
10,771 | ||||||
| 224 |
* | Ameresco, Inc |
1,575 | |||||
| 127 |
e | American Railcar Industries, Inc |
8,607 | |||||
| 105 |
American Science & Engineering, Inc |
7,307 | ||||||
| 955 |
*,e | American Superconductor Corp |
1,557 | |||||
| 125 |
* | American Woodmark Corp |
3,984 | |||||
| 3,194 |
Ametek, Inc |
166,982 | ||||||
| 390 |
Apogee Enterprises, Inc |
13,595 | ||||||
| 560 |
Applied Industrial Technologies, Inc |
28,409 | ||||||
| 89 |
Argan, Inc |
3,319 | ||||||
| 362 |
* | Armstrong World Industries, Inc |
20,790 | |||||
| 1,313 |
* | ArvinMeritor, Inc |
17,122 | |||||
| 261 |
Astec Industries, Inc |
11,453 | ||||||
| 210 |
* | Astronics Corp |
11,855 | |||||
| 343 |
AZZ, Inc |
15,805 | ||||||
| 1,463 |
Babcock & Wilcox Co |
47,489 | ||||||
| 677 |
Barnes Group, Inc |
26,092 | ||||||
| 1,405 |
* | BE Aerospace, Inc |
129,948 | |||||
| 752 |
* | Beacon Roofing Supply, Inc |
24,906 | |||||
| 570 |
* | Blount International, Inc |
8,043 | |||||
| 421 |
*,e | Bluelinx Holdings, Inc |
589 | |||||
| 9,842 |
Boeing Co |
1,252,198 | ||||||
| 600 |
Briggs & Stratton Corp |
12,276 | ||||||
| 673 |
* | Builders FirstSource, Inc |
5,034 | |||||
| 232 |
* | CAI International, Inc |
5,106 | |||||
| 7,608 |
*,e | Capstone Turbine Corp |
11,488 | |||||
| 833 |
Carlisle Cos, Inc |
72,154 | ||||||
| 8,374 |
Caterpillar, Inc |
910,003 | ||||||
| 405 |
* | Chart Industries, Inc |
33,510 | |||||
| 1,322 |
Chicago Bridge & Iron Co NV |
90,160 | ||||||
| 230 |
CIRCOR International, Inc |
17,740 | ||||||
| 676 |
Clarcor, Inc |
41,811 | ||||||
| 1,279 |
* | Colfax Corp |
95,337 | |||||
| 262 |
Columbus McKinnon Corp |
7,087 | ||||||
| 409 |
Comfort Systems USA, Inc |
6,462 | ||||||
| 301 |
* | Commercial Vehicle Group, Inc |
3,022 | |||||
| 157 |
* | Continental Building Products Inc |
2,418 | |||||
| 636 |
Crane Co |
47,293 | ||||||
| 262 |
Cubic Corp |
11,662 | ||||||
| 2,465 |
Cummins, Inc |
380,325 | ||||||
| 654 |
Curtiss-Wright Corp |
42,876 | ||||||
| 7,889 |
Danaher Corp |
621,101 | ||||||
| 4,880 |
Deere & Co |
441,884 | ||||||
| 979 |
* | DigitalGlobe, Inc |
27,216 | |||||
| 1,918 |
Donaldson Co, Inc |
81,170 | ||||||
| 296 |
Douglas Dynamics, Inc |
5,216 | ||||||
| 2,244 |
Dover Corp |
204,092 | ||||||
| 139 |
* | Ducommun, Inc |
3,632 | |||||
| 174 |
* | DXP Enterprises, Inc |
13,144 | |||||
| 455 |
* | Dycom Industries, Inc |
14,246 | |||||
| 225 |
Dynamic Materials Corp |
4,979 | ||||||
| 6,195 |
Eaton Corp |
478,130 | ||||||
| 923 |
EMCOR Group, Inc |
41,101 | ||||||
| 9,414 |
Emerson Electric Co |
624,713 | ||||||
| 278 |
Encore Wire Corp |
13,633 | ||||||
| 404 |
*,e | Energy Recovery, Inc |
1,988 | |||||
| 629 |
EnerSys |
43,269 | ||||||
| 236 |
* | Engility Holdings, Inc |
9,029 | |||||
| 245 |
*,e | Enphase Energy, Inc |
2,095 | |||||
| 277 |
*,e | EnPro Industries, Inc |
20,265 | |||||
| 81 |
* | Erickson Air-Crane, Inc |
1,316 | |||||
| 317 |
ESCO Technologies, Inc |
10,981 | ||||||
| 410 |
* | Esterline Technologies Corp |
47,199 | |||||
| 2,455 |
Exelis, Inc |
41,686 | ||||||
41
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 4,102 |
e | Fastenal Co |
$ | 203,008 | ||||
| 743 |
Federal Signal Corp |
10,885 | ||||||
| 1,842 |
Flowserve Corp |
136,953 | ||||||
| 2,227 |
Fluor Corp |
171,256 | ||||||
| 2,228 |
Fortune Brands Home & Security, Inc |
88,964 | ||||||
| 1,104 |
Foster Wheeler AG. |
37,613 | ||||||
| 640 |
Franklin Electric Co, Inc |
25,811 | ||||||
| 165 |
Freightcar America, Inc |
4,132 | ||||||
| 2,679 |
*,e | FuelCell Energy, Inc |
6,430 | |||||
| 505 |
* | Furmanite Corp |
5,878 | |||||
| 618 |
GATX Corp |
41,369 | ||||||
| 794 |
*,e | GenCorp, Inc |
15,165 | |||||
| 923 |
*,e | Generac Holdings, Inc |
44,987 | |||||
| 640 |
General Cable Corp |
16,422 | ||||||
| 4,008 |
General Dynamics Corp |
467,132 | ||||||
| 134,520 |
General Electric Co |
3,535,185 | ||||||
| 472 |
* | Gibraltar Industries, Inc |
7,321 | |||||
| 278 |
Global Brass & Copper Holdings, Inc |
4,698 | ||||||
| 199 |
Global Power Equipment Group, Inc |
3,216 | ||||||
| 253 |
Gorman-Rupp Co |
8,949 | ||||||
| 825 |
Graco, Inc |
64,416 | ||||||
| 1,560 |
*,e | GrafTech International Ltd |
16,318 | |||||
| 128 |
Graham Corp |
4,456 | ||||||
| 466 |
Granite Construction, Inc |
16,767 | ||||||
| 670 |
* | Great Lakes Dredge & Dock Corp |
5,353 | |||||
| 370 |
* | Greenbrier Cos, Inc |
21,312 | |||||
| 686 |
Griffon Corp |
8,506 | ||||||
| 410 |
* | H&E Equipment Services, Inc |
14,899 | |||||
| 1,086 |
Harsco Corp |
28,920 | ||||||
| 1,423 |
* | HD Supply Holdings, Inc |
40,399 | |||||
| 892 |
Heico Corp |
46,330 | ||||||
| 1,310 |
* | Hexcel Corp |
53,579 | |||||
| 10,454 |
Honeywell International, Inc |
971,699 | ||||||
| 186 |
Houston Wire & Cable Co |
2,308 | ||||||
| 794 |
Hubbell, Inc (Class B) |
97,781 | ||||||
| 656 |
Huntington Ingalls |
62,051 | ||||||
| 78 |
Hurco Cos, Inc |
2,200 | ||||||
| 132 |
Hyster-Yale Materials Handling, Inc |
11,687 | ||||||
| 1,088 |
IDEX Corp |
87,845 | ||||||
| 646 |
* | II-VI, Inc |
9,341 | |||||
| 4,581 |
Illinois Tool Works, Inc |
401,112 | ||||||
| 3,627 |
Ingersoll-Rand plc |
226,724 | ||||||
| 225 |
Insteel Industries, Inc |
4,421 | ||||||
| 1,230 |
ITT Corp |
59,163 | ||||||
| 1,819 |
* | Jacobs Engineering Group, Inc |
96,916 | |||||
| 372 |
John Bean Technologies Corp |
11,528 | ||||||
| 1,350 |
e | Joy Global, Inc |
83,133 | |||||
| 148 |
Kadant, Inc |
5,691 | ||||||
| 380 |
Kaman Corp |
16,237 | ||||||
| 1,974 |
KBR, Inc |
47,080 | ||||||
| 1,005 |
Kennametal, Inc |
46,511 | ||||||
| 424 |
*,e | KEYW Holding Corp |
5,330 | |||||
| 600 |
* | Kratos Defense & Security Solutions, Inc |
4,680 | |||||
| 1,157 |
L-3 Communications Holdings, Inc |
139,708 | ||||||
| 220 |
*,e | Layne Christensen Co |
2,926 | |||||
| 111 |
LB Foster Co (Class A) |
6,007 | ||||||
| 659 |
Lennox International, Inc |
59,027 | ||||||
| 1,128 |
Lincoln Electric Holdings, Inc |
78,825 | ||||||
| 265 |
e | Lindsay Manufacturing Co |
22,385 | |||||
| 101 |
*,e | LMI Aerospace, Inc |
1,321 | |||||
| 3,578 |
Lockheed Martin Corp |
575,092 | ||||||
| 289 |
LSI Industries, Inc |
2,306 | ||||||
| 201 |
* | Lydall, Inc |
5,501 | |||||
| 185 |
* | Manitex International, Inc |
3,004 | |||||
| 1,843 |
Manitowoc Co, Inc |
60,561 | ||||||
| 4,783 |
Masco Corp |
106,183 | ||||||
42
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 395 |
* | Masonite International Corp |
$ | 22,223 | ||||
| 844 |
*,e | Mastec, Inc |
26,012 | |||||
| 747 |
* | Middleby Corp |
61,792 | |||||
| 115 |
Miller Industries, Inc |
2,367 | ||||||
| 595 |
* | Moog, Inc (Class A) |
43,370 | |||||
| 1,329 |
* | MRC Global, Inc |
37,597 | |||||
| 639 |
MSC Industrial Direct Co (Class A) |
61,114 | ||||||
| 803 |
Mueller Industries, Inc |
23,616 | ||||||
| 2,137 |
Mueller Water Products, Inc (Class A) |
18,464 | ||||||
| 209 |
* | MYR Group, Inc |
5,294 | |||||
| 58 |
e | National Presto Industries, Inc |
4,225 | |||||
| 755 |
*,e | Navistar International Corp |
28,297 | |||||
| 446 |
* | NCI Building Systems, Inc |
8,666 | |||||
| 202 |
NN, Inc |
5,167 | ||||||
| 100 |
* | Norcraft Cos, Inc |
1,431 | |||||
| 835 |
Nordson Corp |
66,959 | ||||||
| 117 |
* | Nortek, Inc |
10,502 | |||||
| 2,874 |
Northrop Grumman Corp |
343,817 | ||||||
| 128 |
* | Northwest Pipe Co |
5,162 | |||||
| 1,463 |
* | NOW, Inc |
52,975 | |||||
| 786 |
* | Orbital Sciences Corp |
23,226 | |||||
| 434 |
* | Orion Marine Group, Inc |
4,700 | |||||
| 1,154 |
Oshkosh Truck Corp |
64,082 | ||||||
| 1,580 |
Owens Corning, Inc |
61,114 | ||||||
| 4,758 |
Paccar, Inc |
298,945 | ||||||
| 1,472 |
Pall Corp |
125,694 | ||||||
| 1,998 |
Parker Hannifin Corp |
251,209 | ||||||
| 89 |
* | Patrick Industries, Inc |
4,147 | |||||
| 2,580 |
Pentair plc |
186,070 | ||||||
| 514 |
* | Perini Corp |
16,314 | |||||
| 634 |
* | Pgt, Inc |
5,370 | |||||
| 368 |
* | Pike Electric Corp |
3,297 | |||||
| 2,241 |
* | Plug Power, Inc |
10,488 | |||||
| 211 |
* | Ply Gem Holdings, Inc |
2,131 | |||||
| 144 |
*,e | PMFG, Inc |
759 | |||||
| 591 |
*,e | Polypore International, Inc |
28,208 | |||||
| 125 |
Powell Industries, Inc |
8,173 | ||||||
| 51 |
* | Power Solutions International, Inc |
3,670 | |||||
| 249 |
*,e | PowerSecure International, Inc |
2,425 | |||||
| 1,942 |
Precision Castparts Corp |
490,161 | ||||||
| 28 |
Preformed Line Products Co |
1,507 | ||||||
| 509 |
Primoris Services Corp |
14,680 | ||||||
| 330 |
*,e | Proto Labs, Inc |
27,034 | |||||
| 450 |
Quanex Building Products Corp |
8,042 | ||||||
| 2,864 |
* | Quanta Services, Inc |
99,037 | |||||
| 460 |
Raven Industries, Inc |
15,244 | ||||||
| 4,255 |
Raytheon Co |
392,524 | ||||||
| 312 |
RBC Bearings, Inc |
19,984 | ||||||
| 605 |
Regal-Beloit Corp |
47,529 | ||||||
| 401 |
*,e | Revolution Lighting Technologies, Inc |
922 | |||||
| 932 |
* | Rexnord Corp |
26,236 | |||||
| 1,829 |
Rockwell Automation, Inc |
228,918 | ||||||
| 1,852 |
Rockwell Collins, Inc |
144,715 | ||||||
| 1,339 |
Roper Industries, Inc |
195,507 | ||||||
| 454 |
* | Rush Enterprises, Inc (Class A) |
15,740 | |||||
| 33 |
SIFCO Industries, Inc |
1,030 | ||||||
| 554 |
Simpson Manufacturing Co, Inc |
20,143 | ||||||
| 738 |
Snap-On, Inc |
87,468 | ||||||
| 570 |
*,e | SolarCity Corp |
40,242 | |||||
| 136 |
* | Sparton Corp |
3,773 | |||||
| 1,597 |
* | Spirit Aerosystems Holdings, Inc (Class A) |
53,819 | |||||
| 588 |
SPX Corp |
63,627 | ||||||
| 151 |
Standex International Corp |
11,246 | ||||||
43
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,094 |
Stanley Works |
$ | 183,895 | |||||
| 252 |
* | Sterling Construction Co, Inc |
2,364 | |||||
| 279 |
Sun Hydraulics Corp |
11,327 | ||||||
| 444 |
e | TAL International Group, Inc |
19,696 | |||||
| 723 |
* | Taser International, Inc |
9,616 | |||||
| 466 |
* | Teledyne Technologies, Inc |
45,281 | |||||
| 247 |
Tennant Co |
18,851 | ||||||
| 1,486 |
Terex Corp |
61,075 | ||||||
| 246 |
e | Textainer Group Holdings Ltd |
9,501 | |||||
| 3,703 |
Textron, Inc |
141,788 | ||||||
| 133 |
*,e | The ExOne Company |
5,269 | |||||
| 428 |
* | Thermon Group Holdings |
11,265 | |||||
| 1,085 |
Timken Co |
73,606 | ||||||
| 591 |
e | Titan International, Inc |
9,941 | |||||
| 282 |
*,e | Titan Machinery, Inc |
4,642 | |||||
| 757 |
Toro Co |
48,145 | ||||||
| 706 |
TransDigm Group, Inc |
118,086 | ||||||
| 477 |
*,e | Trex Co, Inc |
13,747 | |||||
| 609 |
* | Trimas Corp |
23,221 | |||||
| 2,078 |
Trinity Industries, Inc |
90,850 | ||||||
| 680 |
Triumph Group, Inc |
47,478 | ||||||
| 100 |
Twin Disc, Inc |
3,305 | ||||||
| 1,302 |
* | United Rentals, Inc |
136,358 | |||||
| 12,298 |
United Technologies Corp |
1,419,804 | ||||||
| 261 |
Universal Forest Products, Inc |
12,598 | ||||||
| 957 |
URS Corp |
43,878 | ||||||
| 1,249 |
* | USG Corp |
37,632 | |||||
| 361 |
Valmont Industries, Inc |
54,854 | ||||||
| 200 |
* | Vicor Corp |
1,676 | |||||
| 791 |
W.W. Grainger, Inc |
201,128 | ||||||
| 924 |
* | Wabash National Corp |
13,167 | |||||
| 766 |
* | WABCO Holdings, Inc |
81,824 | |||||
| 347 |
Watsco, Inc |
35,658 | ||||||
| 382 |
Watts Water Technologies, Inc (Class A) |
23,581 | ||||||
| 596 |
*,e | WESCO International, Inc |
51,482 | |||||
| 1,288 |
Westinghouse Air Brake Technologies Corp |
106,376 | ||||||
| 880 |
Woodward Governor Co |
44,158 | ||||||
| 147 |
* | Xerium Technologies, Inc |
2,052 | |||||
| 2,461 |
Xylem, Inc |
96,176 | ||||||
|
|
|
|||||||
| TOTAL CAPITAL GOODS |
23,962,890 | |||||||
|
|
|
|||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 1.1% |
||||||||
| 749 |
ABM Industries, Inc |
20,208 | ||||||
| 611 |
e | Acacia Research (Acacia Technologies) |
10,845 | |||||
| 1,386 |
* | ACCO Brands Corp |
8,884 | |||||
| 335 |
Administaff, Inc |
11,055 | ||||||
| 2,417 |
e | ADT Corp |
84,450 | |||||
| 491 |
* | Advisory Board Co |
25,434 | |||||
| 273 |
American Ecology Corp |
13,363 | ||||||
| 412 |
* | ARC Document Solutions, Inc |
2,414 | |||||
| 97 |
Barrett Business Services, Inc |
4,559 | ||||||
| 644 |
Brady Corp (Class A) |
19,236 | ||||||
| 650 |
Brink’s Co |
18,343 | ||||||
| 524 |
* | Casella Waste Systems, Inc (Class A) |
2,625 | |||||
| 557 |
* | CBIZ, Inc |
5,030 | |||||
| 189 |
CDI Corp |
2,724 | ||||||
| 282 |
Ceco Environmental Corp |
4,396 | ||||||
| 676 |
*,e | Cenveo, Inc |
2,508 | |||||
| 1,396 |
Cintas Corp |
88,702 | ||||||
| 1,260 |
* | Civeo Corp |
31,538 | |||||
| 815 |
* | Clean Harbors, Inc |
52,364 | |||||
| 1,509 |
* | Copart, Inc |
54,264 | |||||
| 451 |
Corporate Executive Board Co |
30,767 | ||||||
| 1,641 |
Corrections Corp of America |
53,907 | ||||||
| 73 |
Courier Corp |
1,089 | ||||||
44
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,448 |
Covanta Holding Corp |
$ | 29,843 | |||||
| 167 |
* | CRA International, Inc |
3,849 | |||||
| 649 |
Deluxe Corp |
38,018 | ||||||
| 497 |
Dun & Bradstreet Corp |
54,769 | ||||||
| 351 |
Ennis, Inc |
5,356 | ||||||
| 1,650 |
Equifax, Inc |
119,691 | ||||||
| 172 |
Exponent, Inc |
12,747 | ||||||
| 148 |
* | Franklin Covey Co |
2,979 | |||||
| 571 |
* | FTI Consulting, Inc |
21,595 | |||||
| 268 |
G & K Services, Inc (Class A) |
13,955 | ||||||
| 962 |
Geo Group, Inc |
34,372 | ||||||
| 191 |
* | GP Strategies Corp |
4,943 | |||||
| 943 |
Healthcare Services Group |
27,762 | ||||||
| 200 |
Heidrick & Struggles International, Inc |
3,700 | ||||||
| 130 |
* | Heritage-Crystal Clean, Inc |
2,552 | |||||
| 842 |
Herman Miller, Inc |
25,462 | ||||||
| 315 |
* | Hill International, Inc |
1,962 | |||||
| 567 |
HNI Corp |
22,175 | ||||||
| 306 |
* | Huron Consulting Group, Inc |
21,671 | |||||
| 261 |
* | ICF International, Inc |
9,229 | |||||
| 2,113 |
* | ICO Global Communications Holdings Ltd |
3,719 | |||||
| 912 |
* | IHS, Inc (Class A) |
123,731 | |||||
| 491 |
* | Innerworkings, Inc |
4,174 | |||||
| 897 |
Interface, Inc |
16,900 | ||||||
| 110 |
e | Intersections, Inc |
541 | |||||
| 2,278 |
Iron Mountain, Inc |
80,755 | ||||||
| 1,126 |
KAR Auction Services, Inc |
35,886 | ||||||
| 367 |
Kelly Services, Inc (Class A) |
6,301 | ||||||
| 366 |
Kforce, Inc |
7,924 | ||||||
| 460 |
Kimball International, Inc (Class B) |
7,691 | ||||||
| 669 |
Knoll, Inc |
11,594 | ||||||
| 641 |
* | Korn/Ferry International |
18,826 | |||||
| 1,068 |
Manpower, Inc |
90,620 | ||||||
| 347 |
McGrath RentCorp |
12,752 | ||||||
| 220 |
* | Mistras Group, Inc |
5,394 | |||||
| 627 |
Mobile Mini, Inc |
30,027 | ||||||
| 396 |
MSA Safety, Inc |
22,762 | ||||||
| 167 |
Multi-Color Corp |
6,682 | ||||||
| 631 |
* | Navigant Consulting, Inc |
11,011 | |||||
| 3,781 |
Nielsen Holdings NV |
183,038 | ||||||
| 113 |
NL Industries, Inc |
1,050 | ||||||
| 817 |
*,e | Odyssey Marine Exploration, Inc |
1,373 | |||||
| 725 |
* | On Assignment, Inc |
25,788 | |||||
| 110 |
* | Paylocity Holding Corp |
2,379 | |||||
| 295 |
* | Performant Financial Corp |
2,980 | |||||
| 2,976 |
Pitney Bowes, Inc |
82,197 | ||||||
| 313 |
Quad |
7,002 | ||||||
| 2,519 |
R.R. Donnelley & Sons Co |
42,722 | ||||||
| 3,548 |
Republic Services, Inc |
134,718 | ||||||
| 514 |
Resources Connection, Inc |
6,739 | ||||||
| 1,877 |
Robert Half International, Inc |
89,608 | ||||||
| 892 |
Rollins, Inc |
26,760 | ||||||
| 711 |
* | RPX Corp |
12,620 | |||||
| 152 |
Schawk, Inc (Class A) |
3,095 | ||||||
| 189 |
* | SP Plus Corp |
4,043 | |||||
| 1,106 |
Steelcase, Inc (Class A) |
16,734 | ||||||
| 1,166 |
* | Stericycle, Inc |
138,078 | |||||
| 106 |
*,e | Swisher Hygiene, Inc |
458 | |||||
| 294 |
* | Team, Inc |
12,060 | |||||
| 804 |
Tetra Tech, Inc |
22,110 | ||||||
| 873 |
Towers Watson & Co |
90,993 | ||||||
| 183 |
* | TriNet Group, Inc |
4,405 | |||||
| 550 |
* | TrueBlue, Inc |
15,164 | |||||
| 6,188 |
Tyco International Ltd |
282,173 | ||||||
| 202 |
Unifirst Corp |
21,412 | ||||||
| 528 |
United Stationers, Inc |
21,896 | ||||||
45
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,232 |
* | Verisk Analytics, Inc |
$ | 133,965 | ||||
| 263 |
Viad Corp |
6,270 | ||||||
| 48 |
VSE Corp |
3,375 | ||||||
| 468 |
* | WageWorks, Inc |
22,562 | |||||
| 1,624 |
Waste Connections, Inc |
78,845 | ||||||
| 6,243 |
Waste Management, Inc |
279,249 | ||||||
| 516 |
West Corp |
13,829 | ||||||
|
|
|
|||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
3,292,315 | |||||||
|
|
|
|||||||
| CONSUMER DURABLES & APPAREL - 1.5% |
||||||||
| 148 |
Arctic Cat, Inc |
5,834 | ||||||
| 140 |
Bassett Furniture Industries, Inc |
1,842 | ||||||
| 358 |
* | Beazer Homes USA, Inc |
7,511 | |||||
| 271 |
*,e | Black Diamond, Inc |
3,041 | |||||
| 1,238 |
Brunswick Corp |
52,157 | ||||||
| 806 |
Callaway Golf Co |
6,706 | ||||||
| 720 |
Carter’s, Inc |
49,630 | ||||||
| 119 |
* | Cavco Industries, Inc |
10,151 | |||||
| 3,678 |
Coach, Inc |
125,751 | ||||||
| 174 |
Columbia Sportswear Co |
14,381 | ||||||
| 1,231 |
* | CROCS, Inc |
18,502 | |||||
| 125 |
CSS Industries, Inc |
3,296 | ||||||
| 110 |
Culp, Inc |
1,915 | ||||||
| 474 |
* | Deckers Outdoor Corp |
40,920 | |||||
| 201 |
* | Dixie Group, Inc |
2,129 | |||||
| 3,857 |
DR Horton, Inc |
94,805 | ||||||
| 279 |
e | Ethan Allen Interiors, Inc |
6,902 | |||||
| 539 |
*,e | EveryWare Global, Inc |
701 | |||||
| 60 |
Flexsteel Industries, Inc |
2,001 | ||||||
| 625 |
* | Fossil Group, Inc |
65,325 | |||||
| 1,834 |
e | Garmin Ltd |
111,691 | |||||
| 240 |
* | G-III Apparel Group Ltd |
19,598 | |||||
| 1,336 |
Hanesbrands, Inc |
131,516 | ||||||
| 914 |
Harman International Industries, Inc |
98,191 | ||||||
| 1,546 |
Hasbro, Inc |
82,015 | ||||||
| 384 |
* | Helen of Troy Ltd |
23,282 | |||||
| 140 |
Hooker Furniture Corp |
2,260 | ||||||
| 1,566 |
*,e | Hovnanian Enterprises, Inc (Class A) |
8,065 | |||||
| 614 |
* | Iconix Brand Group, Inc |
26,365 | |||||
| 115 |
* | Installed Building Products Inc |
1,409 | |||||
| 429 |
*,e | iRobot Corp |
17,568 | |||||
| 257 |
e | Jakks Pacific, Inc |
1,989 | |||||
| 1,721 |
* | Jarden Corp |
102,141 | |||||
| 1,674 |
* | Kate Spade & Co |
63,846 | |||||
| 1,135 |
e | KB Home |
21,202 | |||||
| 702 |
La-Z-Boy, Inc |
16,265 | ||||||
| 636 |
*,e | Leapfrog Enterprises, Inc |
4,675 | |||||
| 1,876 |
Leggett & Platt, Inc |
64,309 | ||||||
| 2,387 |
Lennar Corp (Class A) |
100,206 | ||||||
| 192 |
* | LGI Homes, Inc |
3,504 | |||||
| 193 |
* | Libbey, Inc |
5,141 | |||||
| 112 |
Lifetime Brands, Inc |
1,761 | ||||||
| 385 |
* | M/I Homes, Inc |
9,344 | |||||
| 4,530 |
Mattel, Inc |
176,534 | ||||||
| 524 |
e | MDC Holdings, Inc |
15,872 | |||||
| 525 |
* | Meritage Homes Corp |
22,160 | |||||
| 2,758 |
* | Michael Kors Holdings Ltd |
244,497 | |||||
| 785 |
* | Mohawk Industries, Inc |
108,597 | |||||
| 200 |
Movado Group, Inc |
8,334 | ||||||
| 66 |
Nacco Industries, Inc (Class A) |
3,340 | ||||||
| 398 |
* | Nautilus, Inc |
4,414 | |||||
| 112 |
* | New Home Co Inc |
1,583 | |||||
| 3,712 |
Newell Rubbermaid, Inc |
115,035 | ||||||
| 9,366 |
Nike, Inc (Class B) |
726,333 | ||||||
| 64 |
* | NVR, Inc |
73,638 | |||||
46
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 200 |
Oxford Industries, Inc |
$ | 13,334 | |||||
| 161 |
* | Perry Ellis International, Inc |
2,808 | |||||
| 1,104 |
Phillips-Van Heusen Corp |
128,726 | ||||||
| 881 |
Polaris Industries, Inc |
114,741 | ||||||
| 567 |
Pool Corp |
32,069 | ||||||
| 5,088 |
Pulte Homes, Inc |
102,574 | ||||||
| 2,135 |
* | Quiksilver, Inc |
7,643 | |||||
| 810 |
Ralph Lauren Corp |
130,159 | ||||||
| 101 |
RG Barry Corp |
1,914 | ||||||
| 629 |
Ryland Group, Inc |
24,808 | ||||||
| 226 |
* | Sequential Brands Group, Inc |
3,121 | |||||
| 524 |
* | Skechers U.S.A., Inc (Class A) |
23,947 | |||||
| 208 |
* | Skullcandy, Inc |
1,508 | |||||
| 739 |
*,e | Smith & Wesson Holding Corp |
10,745 | |||||
| 1,997 |
* | Standard-Pacific Corp |
17,174 | |||||
| 798 |
* | Steven Madden Ltd |
27,371 | |||||
| 260 |
e | Sturm Ruger & Co, Inc |
15,343 | |||||
| 446 |
* | Taylor Morrison Home Corp |
9,999 | |||||
| 798 |
* | Tempur-Pedic International, Inc |
47,641 | |||||
| 2,384 |
* | Toll Brothers, Inc |
87,970 | |||||
| 186 |
*,e | TRI Pointe Homes, Inc |
2,924 | |||||
| 647 |
* | Tumi Holdings, Inc |
13,024 | |||||
| 677 |
Tupperware Corp |
56,665 | ||||||
| 105 |
* | UCP, Inc (Class A) |
1,435 | |||||
| 2,321 |
*,e | Under Armour, Inc (Class A) |
138,076 | |||||
| 226 |
* | Unifi, Inc |
6,222 | |||||
| 213 |
* | Universal Electronics, Inc |
10,411 | |||||
| 246 |
*,e | Vera Bradley, Inc |
5,380 | |||||
| 4,628 |
VF Corp |
291,564 | ||||||
| 150 |
* | Vince Holding Corp |
5,493 | |||||
| 157 |
* | WCI Communities, Inc |
3,032 | |||||
| 219 |
Weyco Group, Inc |
6,003 | ||||||
| 1,057 |
Whirlpool Corp |
147,156 | ||||||
| 235 |
* | William Lyon Homes, Inc |
7,153 | |||||
| 1,361 |
Wolverine World Wide, Inc |
35,468 | ||||||
|
|
|
|||||||
| TOTAL CONSUMER DURABLES & APPAREL |
4,463,781 | |||||||
|
|
|
|||||||
| CONSUMER SERVICES - 2.1% |
||||||||
| 138 |
* | 2U, Inc |
2,320 | |||||
| 224 |
* | American Public Education, Inc |
7,701 | |||||
| 1,296 |
* | Apollo Group, Inc (Class A) |
40,500 | |||||
| 394 |
ARAMARK Holdings Corp |
10,197 | ||||||
| 159 |
* | Ascent Media Corp (Series A) |
10,496 | |||||
| 527 |
* | Bally Technologies, Inc |
34,634 | |||||
| 298 |
* | BJ’s Restaurants, Inc |
10,403 | |||||
| 912 |
* | Bloomin’ Brands, Inc |
20,456 | |||||
| 331 |
Bob Evans Farms, Inc |
16,567 | ||||||
| 1,041 |
* | Boyd Gaming Corp |
12,627 | |||||
| 246 |
* | Bravo Brio Restaurant Group, Inc |
3,840 | |||||
| 192 |
* | Bridgepoint Education, Inc |
2,550 | |||||
| 412 |
* | Bright Horizons Family Solutions |
17,691 | |||||
| 871 |
Brinker International, Inc |
42,374 | ||||||
| 246 |
* | Buffalo Wild Wings, Inc |
40,765 | |||||
| 1,316 |
Burger King Worldwide, Inc |
35,821 | ||||||
| 613 |
* | Caesars Acquisition Co |
7,583 | |||||
| 688 |
*,e | Caesars Entertainment Corp |
12,439 | |||||
| 164 |
Capella Education Co |
8,920 | ||||||
| 812 |
* | Career Education Corp |
3,800 | |||||
| 5,681 |
Carnival Corp |
213,890 | ||||||
| 200 |
Carriage Services, Inc |
3,426 | ||||||
| 358 |
* | Carrols Restaurant Group, Inc |
2,549 | |||||
| 256 |
CBRL Group, Inc |
25,490 | ||||||
| 670 |
Cheesecake Factory |
31,101 | ||||||
| 988 |
* | Chegg, Inc |
6,956 | |||||
47
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 417 |
* | Chipotle Mexican Grill, Inc (Class A) |
$ | 247,077 | ||||
| 464 |
Choice Hotels International, Inc |
21,859 | ||||||
| 180 |
Churchill Downs, Inc |
16,220 | ||||||
| 215 |
* | Chuy’s Holdings, Inc |
7,804 | |||||
| 294 |
ClubCorp Holdings, Inc |
5,451 | ||||||
| 92 |
Collectors Universe |
1,802 | ||||||
| 1,775 |
Darden Restaurants, Inc |
82,129 | ||||||
| 250 |
* | Del Frisco’s Restaurant Group, Inc |
6,890 | |||||
| 1,168 |
* | Denny’s Corp |
7,615 | |||||
| 854 |
DeVry, Inc |
36,158 | ||||||
| 475 |
* | Diamond Resorts International, Inc |
11,053 | |||||
| 223 |
DineEquity, Inc |
17,726 | ||||||
| 746 |
Domino’s Pizza, Inc |
54,525 | ||||||
| 1,398 |
Dunkin Brands Group, Inc |
64,042 | ||||||
| 519 |
*,e | Education Management Corp |
877 | |||||
| 366 |
* | Fiesta Restaurant Group, Inc |
16,986 | |||||
| 54 |
Graham Holdings Co |
38,778 | ||||||
| 626 |
* | Grand Canyon Education, Inc |
28,777 | |||||
| 3,825 |
H&R Block, Inc |
128,214 | ||||||
| 856 |
Hillenbrand, Inc |
27,923 | ||||||
| 1,815 |
* | Hilton Worldwide Holdings, Inc |
42,289 | |||||
| 1,462 |
* | Houghton Mifflin Harcourt Co |
28,012 | |||||
| 587 |
* | Hyatt Hotels Corp |
35,795 | |||||
| 80 |
*,e | Ignite Restaurant Group, Inc |
1,165 | |||||
| 3,313 |
International Game Technology |
52,710 | ||||||
| 373 |
International Speedway Corp (Class A) |
12,413 | ||||||
| 474 |
Interval Leisure Group, Inc |
10,400 | ||||||
| 180 |
* | Intrawest Resorts Holdings Inc |
2,063 | |||||
| 244 |
* | Isle of Capri Casinos, Inc |
2,089 | |||||
| 351 |
*,e | ITT Educational Services, Inc |
5,858 | |||||
| 537 |
Jack in the Box, Inc |
32,134 | ||||||
| 147 |
* | Jamba, Inc |
1,779 | |||||
| 51 |
* | JTH Holding, Inc |
1,699 | |||||
| 461 |
*,e | K12, Inc |
11,096 | |||||
| 865 |
* | Krispy Kreme Doughnuts, Inc |
13,823 | |||||
| 594 |
* | La Quinta Holdings, Inc |
11,369 | |||||
| 5,129 |
Las Vegas Sands Corp |
390,932 | ||||||
| 545 |
*,e | Life Time Fitness, Inc |
26,563 | |||||
| 1,136 |
* | LifeLock, Inc |
15,859 | |||||
| 288 |
e | Lincoln Educational Services Corp |
1,293 | |||||
| 200 |
Marcus Corp |
3,650 | ||||||
| 3,054 |
Marriott International, Inc (Class A) |
195,761 | ||||||
| 380 |
* | Marriott Vacations Worldwide Corp |
22,279 | |||||
| 367 |
Matthews International Corp (Class A) |
15,256 | ||||||
| 13,328 |
McDonald’s Corp |
1,342,663 | ||||||
| 5,009 |
* | MGM Mirage |
132,238 | |||||
| 200 |
* | Monarch Casino & Resort, Inc |
3,028 | |||||
| 510 |
* | Morgans Hotel Group Co |
4,044 | |||||
| 322 |
* | Multimedia Games, Inc |
9,544 | |||||
| 30 |
* | Nathan’s Famous, Inc |
1,626 | |||||
| 120 |
* | Noodles & Co |
4,127 | |||||
| 1,148 |
* | Norwegian Cruise Line Holdings Ltd |
36,392 | |||||
| 1,433 |
* | Orient-Express Hotels Ltd |
20,836 | |||||
| 329 |
* | Panera Bread Co (Class A) |
49,294 | |||||
| 411 |
Papa John’s International, Inc |
17,422 | ||||||
| 1,054 |
* | Penn National Gaming, Inc |
12,796 | |||||
| 793 |
* | Pinnacle Entertainment, Inc |
19,968 | |||||
| 306 |
* | Popeyes Louisiana Kitchen, Inc |
13,375 | |||||
| 175 |
* | Potbelly Corp |
2,793 | |||||
| 170 |
* | Red Robin Gourmet Burgers, Inc |
12,104 | |||||
| 674 |
Regis Corp |
9,490 | ||||||
| 2,228 |
Royal Caribbean Cruises Ltd |
123,877 | ||||||
| 779 |
* | Ruby Tuesday, Inc |
5,913 | |||||
| 473 |
Ruth’s Chris Steak House, Inc |
5,842 | ||||||
| 680 |
* | Scientific Games Corp (Class A) |
7,562 | |||||
| 847 |
SeaWorld Entertainment, Inc |
23,995 | ||||||
48
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,864 |
Service Corp International |
$ | 59,342 | |||||
| 926 |
Six Flags Entertainment Corp |
39,401 | ||||||
| 729 |
* | Sonic Corp |
16,096 | |||||
| 897 |
Sotheby’s (Class A) |
37,665 | ||||||
| 164 |
Speedway Motorsports, Inc |
2,993 | ||||||
| 10,107 |
Starbucks Corp |
782,080 | ||||||
| 2,576 |
Starwood Hotels & Resorts Worldwide, Inc |
208,192 | ||||||
| 19 |
* | Steak N Shake Co |
8,036 | |||||
| 185 |
* | Steiner Leisure Ltd |
8,009 | |||||
| 149 |
* | Strayer Education, Inc |
7,824 | |||||
| 823 |
Texas Roadhouse, Inc (Class A) |
21,398 | ||||||
| 250 |
Town Sports International Holdings, Inc |
1,662 | ||||||
| 228 |
Universal Technical Institute, Inc |
2,768 | ||||||
| 437 |
Vail Resorts, Inc |
33,728 | ||||||
| 364 |
e | Weight Watchers International, Inc |
7,342 | |||||
| 3,688 |
Wendy’s |
31,459 | ||||||
| 1,708 |
Wyndham Worldwide Corp |
129,330 | ||||||
| 1,089 |
Wynn Resorts Ltd |
226,033 | ||||||
| 5,931 |
Yum! Brands, Inc |
481,597 | ||||||
| 78 |
* | Zoe’s Kitchen, Inc |
2,682 | |||||
|
|
|
|||||||
| TOTAL CONSUMER SERVICES |
6,349,855 | |||||||
|
|
|
|||||||
| DIVERSIFIED FINANCIALS - 4.4% |
||||||||
| 747 |
* | Affiliated Managers Group, Inc |
153,434 | |||||
| 3,625 |
* | Ally Financial, Inc |
86,674 | |||||
| 145 |
* | American Capital Ltd |
2,217 | |||||
| 12,169 |
American Express Co |
1,154,473 | ||||||
| 2,454 |
Ameriprise Financial, Inc |
294,480 | ||||||
| 368 |
Artisan Partners Asset Management, Inc |
20,858 | ||||||
| 15,252 |
Bank of New York Mellon Corp |
571,645 | ||||||
| 1,263 |
BGC Partners, Inc (Class A) |
9,397 | ||||||
| 1,710 |
BlackRock, Inc |
546,516 | ||||||
| 200 |
Calamos Asset Management, Inc (Class A) |
2,678 | ||||||
| 7,668 |
Capital One Financial Corp |
633,377 | ||||||
| 400 |
Cash America International, Inc |
17,772 | ||||||
| 1,294 |
CBOE Holdings, Inc |
63,678 | ||||||
| 14,267 |
Charles Schwab Corp |
384,210 | ||||||
| 4,495 |
CME Group, Inc |
318,920 | ||||||
| 260 |
e | Cohen & Steers, Inc |
11,279 | |||||
| 265 |
* | Consumer Portfolio Services, Inc |
2,019 | |||||
| 1,548 |
* | Cowen Group, Inc |
6,533 | |||||
| 98 |
* | Credit Acceptance Corp |
12,064 | |||||
| 38 |
Diamond Hill Investment Group, Inc |
4,853 | ||||||
| 6,255 |
Discover Financial Services |
387,685 | ||||||
| 3,871 |
* | E*Trade Financial Corp |
82,297 | |||||
| 1,765 |
Eaton Vance Corp |
66,699 | ||||||
| 345 |
*,e | Encore Capital Group, Inc |
15,670 | |||||
| 444 |
Evercore Partners, Inc (Class A) |
25,592 | ||||||
| 690 |
* | Ezcorp, Inc (Class A) |
7,969 | |||||
| 163 |
* | FBR & Co |
4,422 | |||||
| 1,318 |
e | Federated Investors, Inc (Class B) |
40,753 | |||||
| 690 |
Financial Engines, Inc |
31,243 | ||||||
| 388 |
* | First Cash Financial Services, Inc |
22,345 | |||||
| 64 |
*,e | First Marblehead Corp |
336 | |||||
| 5,563 |
Franklin Resources, Inc |
321,764 | ||||||
| 208 |
e | Friedman Billings Ramsey Group, Inc (Class A) |
5,685 | |||||
| 611 |
e | FXCM, Inc |
9,141 | |||||
| 310 |
Gain Capital Holdings, Inc |
2,440 | ||||||
| 86 |
GAMCO Investors, Inc (Class A) |
7,142 | ||||||
| 704 |
GFI Group, Inc |
2,337 | ||||||
| 5,999 |
Goldman Sachs Group, Inc |
1,004,473 | ||||||
| 418 |
* | Green Dot Corp |
7,934 | |||||
| 379 |
e | Greenhill & Co, Inc |
18,666 | |||||
| 440 |
HFF, Inc (Class A) |
16,364 | ||||||
| 724 |
Interactive Brokers Group, Inc (Class A) |
16,862 | ||||||
49
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,545 |
IntercontinentalExchange Group, Inc |
$ | 291,850 | |||||
| 153 |
* | International Assets Holding Corp |
3,048 | |||||
| 552 |
* | Internet Capital Group, Inc |
11,526 | |||||
| 5,609 |
Invesco Ltd |
211,740 | ||||||
| 524 |
* | Investment Technology Group, Inc |
8,845 | |||||
| 23,450 |
e | iShares Russell 3000 Index Fund |
2,761,003 | |||||
| 2,141 |
e | Janus Capital Group, Inc |
26,720 | |||||
| 158 |
* | JGWPT Holdings, Inc |
1,779 | |||||
| 767 |
* | KCG Holdings, Inc |
9,112 | |||||
| 1,144 |
* | Ladenburg Thalmann Financial Services, Inc |
3,604 | |||||
| 1,657 |
Lazard Ltd (Class A) |
85,435 | ||||||
| 1,461 |
Legg Mason, Inc |
74,964 | ||||||
| 4,944 |
Leucadia National Corp |
129,632 | ||||||
| 1,173 |
LPL Financial Holdings, Inc |
58,345 | ||||||
| 99 |
e | Main Street Capital Corp |
3,260 | |||||
| 175 |
Manning & Napier, Inc |
3,020 | ||||||
| 107 |
* | Marcus & Millichap, Inc |
2,730 | |||||
| 506 |
MarketAxess Holdings, Inc |
27,354 | ||||||
| 102 |
Marlin Business Services Corp |
1,855 | ||||||
| 3,651 |
McGraw-Hill Financial, Inc |
303,143 | ||||||
| 175 |
e | Medallion Financial Corp |
2,180 | |||||
| 292 |
e | Medley Capital Corp |
3,814 | |||||
| 99 |
* | Moelis & Co |
3,327 | |||||
| 2,462 |
Moody’s Corp |
215,819 | ||||||
| 20,714 |
Morgan Stanley |
669,684 | ||||||
| 1,580 |
* | MSCI, Inc (Class A) |
72,443 | |||||
| 1,567 |
NASDAQ OMX Group, Inc |
60,518 | ||||||
| 5,671 |
Navient Corp |
100,433 | ||||||
| 279 |
Nelnet, Inc (Class A) |
11,559 | ||||||
| 413 |
e | New Mountain Finance Corp |
6,137 | |||||
| 341 |
* | NewStar Financial, Inc |
4,794 | |||||
| 120 |
Nicholas Financial, Inc |
1,723 | ||||||
| 3,439 |
Northern Trust Corp |
220,818 | ||||||
| 116 |
Oppenheimer Holdings, Inc |
2,783 | ||||||
| 717 |
* | PHH Corp |
16,477 | |||||
| 272 |
* | Pico Holdings, Inc |
6,463 | |||||
| 236 |
* | Piper Jaffray Cos |
12,218 | |||||
| 666 |
* | Portfolio Recovery Associates, Inc |
39,647 | |||||
| 90 |
Pzena Investment Management, Inc (Class A) |
1,004 | ||||||
| 1,719 |
Raymond James Financial, Inc |
87,205 | ||||||
| 143 |
* | Regional Management Corp |
2,212 | |||||
| 150 |
Resource America, Inc (Class A) |
1,403 | ||||||
| 219 |
* | Safeguard Scientifics, Inc |
4,553 | |||||
| 1,164 |
Santander Consumer USA Holdings, Inc |
22,628 | ||||||
| 1,985 |
SEI Investments Co |
65,048 | ||||||
| 5,672 |
SLM Corp |
47,134 | ||||||
| 332 |
*,e | Springleaf Holdings, Inc |
8,615 | |||||
| 5,611 |
State Street Corp |
377,396 | ||||||
| 878 |
* | Stifel Financial Corp |
41,573 | |||||
| 289 |
* | SWS Group, Inc |
2,104 | |||||
| 3,694 |
T Rowe Price Group, Inc |
311,811 | ||||||
| 3,606 |
TD Ameritrade Holding Corp |
113,048 | ||||||
| 95 |
* | Virtus Investment Partners, Inc |
20,116 | |||||
| 1,810 |
Voya Financial, Inc |
65,775 | ||||||
| 1,207 |
Waddell & Reed Financial, Inc (Class A) |
75,546 | ||||||
| 498 |
*,e | Walter Investment Management Corp |
14,830 | |||||
| 61 |
Westwood Holdings Group, Inc |
3,662 | ||||||
| 1,321 |
*,e | WisdomTree Investments, Inc |
16,328 | |||||
| 124 |
*,e | World Acceptance Corp |
9,419 | |||||
|
|
|
|||||||
| TOTAL DIVERSIFIED FINANCIALS |
13,156,108 | |||||||
|
|
|
|||||||
| ENERGY - 9.7% |
||||||||
| 1,818 |
* | Abraxas Petroleum Corp |
11,381 | |||||
| 30 |
Adams Resources & Energy, Inc |
2,344 | ||||||
| 351 |
Alon USA Energy, Inc |
4,366 | ||||||
50
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,962 |
*,e | Alpha Natural Resources, Inc |
$ | 10,989 | ||||
| 408 |
* | American Eagle Energy Corp |
2,444 | |||||
| 354 |
*,e | Amyris Biotechnologies, Inc |
1,320 | |||||
| 6,751 |
Anadarko Petroleum Corp |
739,032 | ||||||
| 465 |
* | Antero Resources Corp |
30,518 | |||||
| 5,137 |
Apache Corp |
516,885 | ||||||
| 180 |
* | APCO Argentina, Inc |
2,597 | |||||
| 503 |
*,e | Approach Resources, Inc |
11,433 | |||||
| 2,847 |
e | Arch Coal, Inc |
10,392 | |||||
| 242 |
Ardmore Shipping Corp |
3,347 | ||||||
| 687 |
* | Athlon Energy, Inc |
32,770 | |||||
| 814 |
* | Atwood Oceanics, Inc |
42,719 | |||||
| 5,849 |
Baker Hughes, Inc |
435,458 | ||||||
| 404 |
* | Basic Energy Services, Inc |
11,805 | |||||
| 901 |
*,e | Bill Barrett Corp |
24,129 | |||||
| 31 |
Bolt Technology Corp |
569 | ||||||
| 517 |
* | Bonanza Creek Energy, Inc |
29,567 | |||||
| 2,702 |
*,e | BPZ Energy, Inc |
8,322 | |||||
| 487 |
Bristow Group, Inc |
39,262 | ||||||
| 618 |
* | C&J Energy Services, Inc |
20,876 | |||||
| 5,810 |
Cabot Oil & Gas Corp |
198,353 | ||||||
| 539 |
* | Callon Petroleum Co |
6,279 | |||||
| 2,745 |
* | Cameron International Corp |
185,864 | |||||
| 265 |
CARBO Ceramics, Inc |
40,842 | ||||||
| 610 |
* | Carrizo Oil & Gas, Inc |
42,249 | |||||
| 450 |
* | CHC Group Ltd |
3,798 | |||||
| 3,265 |
* | Cheniere Energy, Inc |
234,100 | |||||
| 7,065 |
Chesapeake Energy Corp |
219,580 | ||||||
| 25,537 |
Chevron Corp |
3,333,855 | ||||||
| 1,183 |
Cimarex Energy Co |
169,713 | ||||||
| 90 |
* | Clayton Williams Energy, Inc |
12,363 | |||||
| 941 |
*,e | Clean Energy Fuels Corp |
11,029 | |||||
| 817 |
* | Cloud Peak Energy, Inc |
15,049 | |||||
| 4,710 |
* | Cobalt International Energy, Inc |
86,428 | |||||
| 870 |
Comstock Resources, Inc |
25,091 | ||||||
| 1,512 |
* | Concho Resources, Inc |
218,484 | |||||
| 16,469 |
ConocoPhillips |
1,411,887 | ||||||
| 2,914 |
Consol Energy, Inc |
134,248 | ||||||
| 368 |
* | Contango Oil & Gas Co |
15,570 | |||||
| 560 |
*,e | Continental Resources, Inc |
88,502 | |||||
| 212 |
e | CVR Energy, Inc |
10,216 | |||||
| 132 |
Dawson Geophysical Co |
3,782 | ||||||
| 790 |
Delek US Holdings, Inc |
22,302 | ||||||
| 5,212 |
Denbury Resources, Inc |
96,214 | ||||||
| 5,295 |
Devon Energy Corp |
420,423 | ||||||
| 889 |
DHT Holdings, Inc |
6,401 | ||||||
| 904 |
e | Diamond Offshore Drilling, Inc |
44,866 | |||||
| 511 |
* | Diamondback Energy, Inc |
45,377 | |||||
| 98 |
* | Dorian LPG Ltd |
2,253 | |||||
| 1,023 |
* | Dresser-Rand Group, Inc |
65,196 | |||||
| 548 |
* | Dril-Quip, Inc |
59,864 | |||||
| 1,061 |
*,e | Emerald Oil, Inc |
8,117 | |||||
| 780 |
*,e | Endeavour International Corp |
1,069 | |||||
| 915 |
Energen Corp |
81,325 | ||||||
| 1,332 |
e | Energy XXI Bermuda Ltd |
31,475 | |||||
| 7,274 |
EOG Resources, Inc |
850,040 | ||||||
| 443 |
* | EP Energy Corp |
10,211 | |||||
| 1,921 |
EQT Corp |
205,355 | ||||||
| 1,667 |
Equal Energy Ltd |
9,035 | ||||||
| 272 |
* | Era Group, Inc |
7,801 | |||||
| 468 |
Evolution Petroleum Corp |
5,125 | ||||||
| 1,902 |
e | EXCO Resources, Inc |
11,203 | |||||
| 747 |
Exterran Holdings, Inc |
33,608 | ||||||
| 57,608 |
Exxon Mobil Corp |
5,799,974 | ||||||
51
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 3,155 |
* | FMC Technologies, Inc |
$ | 192,676 | ||||
| 1,851 |
* | Forest Oil Corp |
4,220 | |||||
| 782 |
* | Forum Energy Technologies, Inc |
28,488 | |||||
| 467 |
Frank’s International NV |
11,488 | ||||||
| 743 |
*,e | Frontline Ltd |
2,170 | |||||
| 723 |
*,e | FX Energy, Inc |
2,610 | |||||
| 581 |
GasLog Ltd |
18,528 | ||||||
| 750 |
* | Gastar Exploration, Inc |
6,532 | |||||
| 164 |
*,e | Geospace Technologies Corp |
9,033 | |||||
| 163 |
* | Glori Energy, Inc |
1,770 | |||||
| 588 |
e | Golar LNG Ltd |
35,339 | |||||
| 555 |
* | Goodrich Petroleum Corp |
15,318 | |||||
| 569 |
Green Plains Renewable Energy, Inc |
18,703 | ||||||
| 190 |
Gulf Island Fabrication, Inc |
4,089 | ||||||
| 359 |
Gulfmark Offshore, Inc |
16,220 | ||||||
| 1,146 |
* | Gulfport Energy Corp |
71,969 | |||||
| 3,498 |
*,e | Halcon Resources Corp |
25,500 | |||||
| 649 |
Hallador Petroleum Co |
6,159 | ||||||
| 11,329 |
Halliburton Co |
804,472 | ||||||
| 1,416 |
* | Helix Energy Solutions Group, Inc |
37,255 | |||||
| 1,306 |
Helmerich & Payne, Inc |
151,640 | ||||||
| 2,303 |
* | Hercules Offshore, Inc |
9,258 | |||||
| 3,728 |
Hess Corp |
368,662 | ||||||
| 2,700 |
Holly Corp |
117,963 | ||||||
| 486 |
*,e | Hornbeck Offshore Services, Inc |
22,803 | |||||
| 1,960 |
* | ION Geophysical Corp |
8,271 | |||||
| 13 |
* | Isramco, Inc |
1,653 | |||||
| 150 |
* | Jones Energy, Inc (Class A) |
3,075 | |||||
| 1,762 |
* | Key Energy Services, Inc |
16,105 | |||||
| 8,943 |
Kinder Morgan, Inc |
324,273 | ||||||
| 1,319 |
*,e | KiOR, Inc (Class A) |
475 | |||||
| 408 |
Knightsbridge Tankers Ltd |
5,789 | ||||||
| 3,714 |
* | Kodiak Oil & Gas Corp |
54,039 | |||||
| 1,636 |
* | Kosmos Energy LLC |
18,372 | |||||
| 1,041 |
* | Laredo Petroleum Holdings, Inc |
32,250 | |||||
| 2,666 |
* | Magnum Hunter Resources Corp |
21,861 | |||||
| 9,069 |
Marathon Oil Corp |
362,034 | ||||||
| 3,409 |
Marathon Petroleum Corp |
266,141 | ||||||
| 1,143 |
* | Matador Resources Co |
33,467 | |||||
| 383 |
* | Matrix Service Co |
12,559 | |||||
| 3,187 |
*,e | McDermott International, Inc |
25,783 | |||||
| 783 |
*,e | Midstates Petroleum Co, Inc |
5,661 | |||||
| 883 |
*,e | Miller Petroleum, Inc |
5,651 | |||||
| 120 |
* | Mitcham Industries, Inc |
1,678 | |||||
| 2,203 |
Murphy Oil Corp |
146,455 | ||||||
| 3,990 |
Nabors Industries Ltd |
117,186 | ||||||
| 5,756 |
National Oilwell Varco, Inc |
474,007 | ||||||
| 180 |
* | Natural Gas Services Group, Inc |
5,951 | |||||
| 764 |
Navios Maritime Acq Corp |
2,834 | ||||||
| 1,843 |
* | Newfield Exploration Co |
81,461 | |||||
| 1,138 |
* | Newpark Resources, Inc |
14,179 | |||||
| 4,703 |
Noble Energy, Inc |
364,294 | ||||||
| 1,193 |
e | Nordic American Tanker Shipping |
11,369 | |||||
| 915 |
North Atlantic Drilling Ltd |
9,717 | ||||||
| 911 |
*,e | Northern Oil And Gas, Inc |
14,840 | |||||
| 203 |
*,e | Nuverra Environmental Solutions, Inc |
4,082 | |||||
| 1,357 |
* | Oasis Petroleum, Inc |
75,843 | |||||
| 10,539 |
Occidental Petroleum Corp |
1,081,618 | ||||||
| 1,449 |
Oceaneering International, Inc |
113,210 | ||||||
| 630 |
* | Oil States International, Inc |
40,377 | |||||
| 2,788 |
Oneok, Inc |
189,807 | ||||||
| 254 |
* | Pacific Ethanol, Inc |
3,884 | |||||
| 85 |
Panhandle Oil and Gas, Inc (Class A) |
4,763 | ||||||
| 1,644 |
* | Parker Drilling Co |
10,719 | |||||
| 671 |
* | Parsley Energy, Inc |
16,151 | |||||
| 1,923 |
Patterson-UTI Energy, Inc |
67,190 | ||||||
52
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 927 |
PBF Energy, Inc |
$ | 24,705 | |||||
| 540 |
* | PDC Energy, Inc |
34,101 | |||||
| 3,699 |
e | Peabody Energy Corp |
60,479 | |||||
| 998 |
*,e | Penn Virginia Corp |
16,916 | |||||
| 815 |
* | Petroquest Energy, Inc |
6,129 | |||||
| 149 |
* | PHI, Inc |
6,641 | |||||
| 7,669 |
Phillips 66 |
616,818 | ||||||
| 840 |
* | Pioneer Energy Services Corp |
14,734 | |||||
| 1,831 |
Pioneer Natural Resources Co |
420,782 | ||||||
| 2,264 |
Questar Market Resources, Inc |
78,108 | ||||||
| 1,685 |
*,e | Quicksilver Resources, Inc |
4,499 | |||||
| 2,236 |
Range Resources Corp |
194,420 | ||||||
| 376 |
* | Renewable Energy Group, Inc |
4,313 | |||||
| 1,056 |
*,e | Resolute Energy Corp |
9,124 | |||||
| 727 |
* | Rex Energy Corp |
12,875 | |||||
| 92 |
* | Rex Stores Corp |
6,745 | |||||
| 537 |
* | Rice Energy, Inc |
16,352 | |||||
| 159 |
* | RigNet, Inc |
8,557 | |||||
| 250 |
* | Ring Energy, Inc |
4,362 | |||||
| 851 |
* | Rosetta Resources, Inc |
46,677 | |||||
| 1,609 |
Rowan Cos plc |
51,375 | ||||||
| 849 |
RPC, Inc |
19,943 | ||||||
| 42 |
* | RSP Permian, Inc |
1,362 | |||||
| 717 |
*,e | Sanchez Energy Corp |
26,952 | |||||
| 7,671 |
*,e | SandRidge Energy, Inc |
54,848 | |||||
| 17,446 |
Schlumberger Ltd |
2,057,756 | ||||||
| 2,658 |
e | Scorpio Tankers, Inc |
27,032 | |||||
| 272 |
* | SEACOR Holdings, Inc |
22,372 | |||||
| 4,780 |
e | Seadrill Ltd |
190,961 | |||||
| 572 |
SemGroup Corp |
45,102 | ||||||
| 793 |
e | Ship Finance International Ltd |
14,742 | |||||
| 1,127 |
*,e | Solazyme, Inc |
13,276 | |||||
| 4,637 |
* | Southwestern Energy Co |
210,937 | |||||
| 9,074 |
Spectra Energy Corp |
385,464 | ||||||
| 900 |
St. Mary Land & Exploration Co |
75,690 | ||||||
| 753 |
* | Stone Energy Corp |
35,233 | |||||
| 2,001 |
Superior Energy Services |
72,316 | ||||||
| 652 |
*,e | Swift Energy Co |
8,463 | |||||
| 1,246 |
* | Synergy Resources Corp |
16,509 | |||||
| 487 |
Targa Resources Investments, Inc |
67,971 | ||||||
| 610 |
Teekay Corp |
37,972 | ||||||
| 800 |
e | Teekay Tankers Ltd (Class A) |
3,432 | |||||
| 465 |
Tesco Corp |
9,923 | ||||||
| 1,747 |
Tesoro Corp |
102,496 | ||||||
| 1,059 |
* | Tetra Technologies, Inc |
12,475 | |||||
| 784 |
*,e | TGC Industries, Inc |
4,273 | |||||
| 645 |
Tidewater, Inc |
36,217 | ||||||
| 304 |
* | TransAtlantic Petroleum Ltd |
3,463 | |||||
| 1,272 |
* | Triangle Petroleum Corp |
14,946 | |||||
| 2,216 |
*,e | Ultra Petroleum Corp |
65,793 | |||||
| 665 |
* | Unit Corp |
45,772 | |||||
| 380 |
*,e | Uranium Energy Corp |
593 | |||||
| 467 |
*,e | Ur-Energy, Inc |
532 | |||||
| 1,262 |
* | Vaalco Energy, Inc |
9,124 | |||||
| 7,194 |
Valero Energy Corp |
360,419 | ||||||
| 2,757 |
* | Vantage Drilling Co |
5,293 | |||||
| 158 |
* | Vertex Energy, Inc |
1,534 | |||||
| 467 |
W&T Offshore, Inc |
7,645 | ||||||
| 1,981 |
* | Warren Resources, Inc |
12,282 | |||||
| 714 |
Western Refining, Inc |
26,811 | ||||||
| 179 |
* | Westmoreland Coal Co |
6,494 | |||||
| 1,594 |
* | Whiting Petroleum Corp |
127,918 | |||||
| 1,032 |
* | Willbros Group, Inc |
12,745 | |||||
| 9,198 |
Williams Cos, Inc |
535,416 | ||||||
| 997 |
World Fuel Services Corp |
49,082 | ||||||
| 2,822 |
* | WPX Energy, Inc |
67,474 | |||||
| 2,938 |
*,e | ZaZa Energy Corp |
2,585 | |||||
|
|
|
|||||||
| TOTAL ENERGY |
28,857,330 | |||||||
|
|
|
|||||||
53
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| FOOD & STAPLES RETAILING - 1.9% |
||||||||
| 418 |
Andersons, Inc |
$ | 21,560 | |||||
| 461 |
Casey’s General Stores, Inc |
32,404 | ||||||
| 300 |
* | Chefs’ Warehouse Holdings, Inc |
5,931 | |||||
| 5,887 |
Costco Wholesale Corp |
677,947 | ||||||
| 15,857 |
CVS Corp |
1,195,142 | ||||||
| 205 |
*,e | Fairway Group Holdings Corp |
1,363 | |||||
| 538 |
*,e | Fresh Market, Inc |
18,007 | |||||
| 100 |
Ingles Markets, Inc (Class A) |
2,635 | ||||||
| 6,836 |
Kroger Co |
337,903 | ||||||
| 423 |
Liberator Medical Holdings, Inc |
1,586 | ||||||
| 95 |
* | Natural Grocers by Vitamin C |
2,034 | |||||
| 248 |
* | Pantry, Inc |
4,018 | |||||
| 209 |
Pricesmart, Inc |
18,191 | ||||||
| 13,085 |
* | Rite Aid Corp |
93,819 | |||||
| 371 |
Roundy’s, Inc |
2,044 | ||||||
| 2,984 |
Safeway, Inc |
102,471 | ||||||
| 506 |
Spartan Stores, Inc |
10,631 | ||||||
| 1,280 |
*,e | Sprouts Farmers Market, Inc |
41,882 | |||||
| 2,809 |
* | Supervalu, Inc |
23,090 | |||||
| 238 |
* | Susser Holdings Corp |
19,211 | |||||
| 7,842 |
Sysco Corp |
293,683 | ||||||
| 668 |
* | United Natural Foods, Inc |
43,487 | |||||
| 77 |
Village Super Market (Class A) |
1,819 | ||||||
| 12,581 |
Walgreen Co |
932,630 | ||||||
| 21,450 |
Wal-Mart Stores, Inc |
1,610,252 | ||||||
| 148 |
Weis Markets, Inc |
6,768 | ||||||
| 4,931 |
Whole Foods Market, Inc |
190,485 | ||||||
|
|
|
|||||||
| TOTAL FOOD & STAPLES RETAILING |
5,690,993 | |||||||
|
|
|
|||||||
| FOOD, BEVERAGE & TOBACCO - 4.5% |
||||||||
| 398 |
* | 22nd Century Group, Inc |
1,222 | |||||
| 100 |
Alico, Inc |
3,749 | ||||||
| 1,182 |
* | Alliance One International, Inc |
2,955 | |||||
| 26,648 |
Altria Group, Inc |
1,117,617 | ||||||
| 228 |
*,e | Annie’s, Inc |
7,711 | |||||
| 8,560 |
Archer Daniels Midland Co |
377,582 | ||||||
| 743 |
B&G Foods, Inc (Class A) |
24,289 | ||||||
| 112 |
*,e | Boston Beer Co, Inc (Class A) |
25,034 | |||||
| 817 |
* | Boulder Brands, Inc |
11,585 | |||||
| 2,064 |
Brown-Forman Corp (Class B) |
194,367 | ||||||
| 1,983 |
Bunge Ltd |
149,994 | ||||||
| 271 |
Calavo Growers, Inc |
9,168 | ||||||
| 200 |
Cal-Maine Foods, Inc |
14,864 | ||||||
| 2,303 |
Campbell Soup Co |
105,500 | ||||||
| 536 |
* | Chiquita Brands International, Inc |
5,816 | |||||
| 62 |
Coca-Cola Bottling Co Consolidated |
4,567 | ||||||
| 52,706 |
Coca-Cola Co |
2,232,626 | ||||||
| 3,432 |
Coca-Cola Enterprises, Inc |
163,981 | ||||||
| 5,650 |
ConAgra Foods, Inc |
167,692 | ||||||
| 2,063 |
* | Constellation Brands, Inc (Class A) |
181,812 | |||||
| 2,248 |
* | Darling International, Inc |
46,983 | |||||
| 1,254 |
Dean Foods Co |
22,058 | ||||||
| 262 |
* | Diamond Foods, Inc |
7,388 | |||||
| 2,677 |
Dr Pepper Snapple Group, Inc |
156,819 | ||||||
| 200 |
* | Farmer Bros Co |
4,322 | |||||
| 2,326 |
Flowers Foods, Inc |
49,032 | ||||||
| 559 |
Fresh Del Monte Produce, Inc |
17,133 | ||||||
| 8,243 |
General Mills, Inc |
433,087 | ||||||
| 672 |
* | Hain Celestial Group, Inc |
59,633 | |||||
| 2,006 |
Hershey Co |
195,324 | ||||||
| 1,582 |
Hillshire Brands Co |
98,559 | ||||||
| 1,795 |
Hormel Foods Corp |
88,583 | ||||||
| 1,023 |
Ingredion, Inc |
76,766 | ||||||
54
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 170 |
* | Inventure Foods, Inc |
$ | 1,916 | ||||
| 201 |
J&J Snack Foods Corp |
18,918 | ||||||
| 1,408 |
J.M. Smucker Co |
150,050 | ||||||
| 100 |
John B. Sanfilippo & Son, Inc |
2,647 | ||||||
| 3,285 |
Kellogg Co |
215,824 | ||||||
| 1,906 |
Keurig Green Mountain, Inc |
237,507 | ||||||
| 8,058 |
Kraft Foods Group, Inc |
483,077 | ||||||
| 260 |
Lancaster Colony Corp |
24,742 | ||||||
| 689 |
Lance, Inc |
18,231 | ||||||
| 150 |
Limoneira Co |
3,295 | ||||||
| 4,863 |
Lorillard, Inc |
296,497 | ||||||
| 1,852 |
McCormick & Co, Inc |
132,585 | ||||||
| 2,711 |
Mead Johnson Nutrition Co |
252,584 | ||||||
| 1,834 |
Molson Coors Brewing Co (Class B) |
136,009 | ||||||
| 22,957 |
Mondelez International, Inc |
863,413 | ||||||
| 1,921 |
* | Monster Beverage Corp |
136,449 | |||||
| 129 |
* | National Beverage Corp |
2,441 | |||||
| 245 |
* | Omega Protein Corp |
3,352 | |||||
| 20,590 |
PepsiCo, Inc |
1,839,511 | ||||||
| 21,100 |
Philip Morris International, Inc |
1,778,941 | ||||||
| 849 |
* | Pilgrim’s Pride Corp |
23,229 | |||||
| 730 |
Pinnacle Foods, Inc |
24,017 | ||||||
| 582 |
* | Post Holdings, Inc |
29,630 | |||||
| 4,059 |
Reynolds American, Inc |
244,961 | ||||||
| 320 |
Sanderson Farms, Inc |
31,104 | ||||||
| 4 |
* | Seaboard Corp |
12,081 | |||||
| 134 |
* | Seneca Foods Corp |
4,100 | |||||
| 215 |
*,e | Synutra International, Inc |
1,443 | |||||
| 339 |
e | Tootsie Roll Industries, Inc |
9,980 | |||||
| 511 |
* | TreeHouse Foods, Inc |
40,916 | |||||
| 3,638 |
Tyson Foods, Inc (Class A) |
136,570 | ||||||
| 312 |
e | Universal Corp |
17,269 | |||||
| 467 |
e | Vector Group Ltd |
9,658 | |||||
| 2,333 |
* | WhiteWave Foods Co (Class A) |
75,519 | |||||
|
|
|
|||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
13,316,284 | |||||||
|
|
|
|||||||
| HEALTH CARE EQUIPMENT & SERVICES - 4.5% |
||||||||
| 301 |
Abaxis, Inc |
13,337 | ||||||
| 20,148 |
Abbott Laboratories |
824,053 | ||||||
| 536 |
*,e | Abiomed, Inc |
13,475 | |||||
| 503 |
* | Acadia Healthcare Co, Inc |
22,887 | |||||
| 1,030 |
*,e | Accuray, Inc |
9,064 | |||||
| 85 |
* | Addus HomeCare Corp |
1,911 | |||||
| 4,646 |
Aetna, Inc |
376,698 | ||||||
| 489 |
*,e | Air Methods Corp |
25,257 | |||||
| 1,095 |
* | Align Technology, Inc |
61,364 | |||||
| 67 |
* | Alliance HealthCare Services, Inc |
1,809 | |||||
| 2,366 |
* | Allscripts Healthcare Solutions, Inc |
37,974 | |||||
| 72 |
* | Almost Family, Inc |
1,590 | |||||
| 620 |
*,e | Alphatec Holdings, Inc |
1,011 | |||||
| 341 |
*,e | Amedisys, Inc |
5,708 | |||||
| 3,161 |
AmerisourceBergen Corp |
229,678 | ||||||
| 602 |
* | AMN Healthcare Services, Inc |
7,405 | |||||
| 451 |
* | Amsurg Corp |
20,552 | |||||
| 150 |
Analogic Corp |
11,736 | ||||||
| 275 |
* | Angiodynamics, Inc |
4,491 | |||||
| 188 |
* | Anika Therapeutics, Inc |
8,710 | |||||
| 2,094 |
*,e | Antares Pharma, Inc |
5,591 | |||||
| 507 |
*,e | athenahealth, Inc |
63,441 | |||||
| 368 |
* | AtriCure, Inc |
6,764 | |||||
| 29 |
Atrion Corp |
9,454 | ||||||
| 1,058 |
Bard (C.R.), Inc |
151,305 | ||||||
| 7,115 |
Baxter International, Inc |
514,415 | ||||||
| 2,592 |
Becton Dickinson & Co |
306,634 | ||||||
| 412 |
*,e | Bio-Reference Labs, Inc |
12,451 | |||||
55
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 918 |
*,e | BioScrip, Inc |
$ | 7,656 | ||||
| 354 |
* | BioTelemetry, Inc |
2,538 | |||||
| 17,865 |
* | Boston Scientific Corp |
228,136 | |||||
| 1,682 |
* | Brookdale Senior Living, Inc |
56,078 | |||||
| 484 |
Cantel Medical Corp |
17,724 | ||||||
| 442 |
* | Capital Senior Living Corp |
10,537 | |||||
| 4,761 |
Cardinal Health, Inc |
326,414 | ||||||
| 371 |
* | Cardiovascular Systems, Inc |
11,560 | |||||
| 2,866 |
* | CareFusion Corp |
127,107 | |||||
| 174 |
* | Castlight Health, Inc |
2,645 | |||||
| 2,775 |
* | Catamaran Corp |
122,544 | |||||
| 774 |
* | Centene Corp |
58,522 | |||||
| 4,039 |
* | Cerner Corp |
208,332 | |||||
| 973 |
*,e | Cerus Corp |
4,038 | |||||
| 258 |
e | Chemed Corp |
24,180 | |||||
| 187 |
* | Chindex International, Inc |
4,430 | |||||
| 3,604 |
Cigna Corp |
331,460 | ||||||
| 1,546 |
* | Community Health Systems, Inc |
70,142 | |||||
| 168 |
Computer Programs & Systems, Inc |
10,685 | ||||||
| 397 |
Conmed Corp |
17,528 | ||||||
| 659 |
Cooper Cos, Inc |
89,314 | ||||||
| 180 |
* | Corvel Corp |
8,132 | |||||
| 6,048 |
Covidien plc |
545,409 | ||||||
| 296 |
* | Cross Country Healthcare, Inc |
1,930 | |||||
| 377 |
CryoLife, Inc |
3,374 | ||||||
| 360 |
* | Cyberonics, Inc |
22,486 | |||||
| 141 |
* | Cynosure, Inc (Class A) |
2,996 | |||||
| 2,442 |
* | DaVita, Inc |
176,605 | |||||
| 1,881 |
Dentsply International, Inc |
89,065 | ||||||
| 120 |
*,e | Derma Sciences, Inc |
1,387 | |||||
| 1,033 |
* | DexCom, Inc |
40,969 | |||||
| 1,452 |
* | Edwards Lifesciences Corp |
124,640 | |||||
| 524 |
* | Emeritus Corp |
16,585 | |||||
| 859 |
* | Endologix, Inc |
13,065 | |||||
| 270 |
Ensign Group, Inc |
8,392 | ||||||
| 1,088 |
* | Envision Healthcare Holdings, Inc |
39,070 | |||||
| 131 |
* | Exactech, Inc |
3,305 | |||||
| 465 |
* | ExamWorks Group, Inc |
14,754 | |||||
| 10,377 |
* | Express Scripts Holding Co |
719,437 | |||||
| 374 |
* | Five Star Quality Care, Inc |
1,874 | |||||
| 665 |
*,e | GenMark Diagnostics, Inc |
8,997 | |||||
| 456 |
* | Gentiva Health Services, Inc |
6,867 | |||||
| 882 |
* | Globus Medical, Inc |
21,097 | |||||
| 334 |
* | Greatbatch, Inc |
16,386 | |||||
| 720 |
* | Haemonetics Corp |
25,402 | |||||
| 472 |
* | Hanger Orthopedic Group, Inc |
14,844 | |||||
| 4,379 |
* | HCA Holdings, Inc |
246,888 | |||||
| 1,061 |
* | Health Net, Inc |
44,074 | |||||
| 1,191 |
Healthsouth Corp |
42,721 | ||||||
| 284 |
* | HealthStream, Inc |
6,901 | |||||
| 402 |
*,e | Healthways, Inc |
7,051 | |||||
| 241 |
* | HeartWare International, Inc |
21,329 | |||||
| 1,234 |
* | Henry Schein, Inc |
146,439 | |||||
| 836 |
Hill-Rom Holdings, Inc |
34,702 | ||||||
| 1,170 |
* | HMS Holdings Corp |
23,880 | |||||
| 3,307 |
* | Hologic, Inc |
83,832 | |||||
| 2,092 |
Humana, Inc |
267,190 | ||||||
| 239 |
* | ICU Medical, Inc |
14,534 | |||||
| 692 |
* | Idexx Laboratories, Inc |
92,430 | |||||
| 69 |
* | Inogen Inc |
1,557 | |||||
| 743 |
* | Insulet Corp |
29,475 | |||||
| 335 |
* | Integra LifeSciences Holdings Corp |
15,765 | |||||
| 525 |
* | Intuitive Surgical, Inc |
216,195 | |||||
| 316 |
Invacare Corp |
5,805 | ||||||
| 1,108 |
* | Inverness Medical Innovations, Inc |
41,461 | |||||
| 220 |
* | IPC The Hospitalist Co, Inc |
9,728 | |||||
56
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 118 |
* | K2M Group Holdings, Inc |
$ | 1,756 | ||||
| 735 |
Kindred Healthcare, Inc |
16,979 | ||||||
| 1,181 |
* | Laboratory Corp of America Holdings |
120,934 | |||||
| 128 |
Landauer, Inc |
5,376 | ||||||
| 223 |
* | LDR Holding Corp |
5,577 | |||||
| 267 |
* | LHC Group, Inc |
5,706 | |||||
| 600 |
* | LifePoint Hospitals, Inc |
37,260 | |||||
| 405 |
* | Magellan Health Services, Inc |
25,207 | |||||
| 611 |
* | Masimo Corp |
14,420 | |||||
| 3,093 |
McKesson Corp |
575,948 | ||||||
| 746 |
* | MedAssets, Inc |
17,039 | |||||
| 698 |
* | Medidata Solutions, Inc |
29,881 | |||||
| 13,401 |
Medtronic, Inc |
854,448 | ||||||
| 1,254 |
* | Merge Healthcare, Inc |
2,847 | |||||
| 557 |
e | Meridian Bioscience, Inc |
11,496 | |||||
| 538 |
* | Merit Medical Systems, Inc |
8,124 | |||||
| 405 |
* | Molina Healthcare, Inc |
18,075 | |||||
| 173 |
* | MWI Veterinary Supply, Inc |
24,564 | |||||
| 138 |
National Healthcare Corp |
7,768 | ||||||
| 133 |
* | National Research Corp |
1,861 | |||||
| 431 |
* | Natus Medical, Inc |
10,835 | |||||
| 492 |
* | Neogen Corp |
19,911 | |||||
| 625 |
* | NuVasive, Inc |
22,231 | |||||
| 824 |
* | NxStage Medical, Inc |
11,841 | |||||
| 1,375 |
Omnicare, Inc |
91,534 | ||||||
| 387 |
* | Omnicell, Inc |
11,111 | |||||
| 749 |
* | OraSure Technologies, Inc |
6,449 | |||||
| 239 |
* | Orthofix International NV |
8,664 | |||||
| 864 |
e | Owens & Minor, Inc |
29,359 | |||||
| 174 |
* | Oxford Immunotec Global plc |
2,928 | |||||
| 1,289 |
Patterson Cos, Inc |
50,928 | ||||||
| 1,412 |
* | Pediatrix Medical Group, Inc |
82,108 | |||||
| 373 |
* | PharMerica Corp |
10,664 | |||||
| 164 |
*,e | PhotoMedex, Inc |
2,009 | |||||
| 443 |
* | Premier, Inc |
12,847 | |||||
| 155 |
* | Providence Service Corp |
5,671 | |||||
| 668 |
Quality Systems, Inc |
10,721 | ||||||
| 2,019 |
e | Quest Diagnostics, Inc |
118,495 | |||||
| 382 |
*,e | Quidel Corp |
8,446 | |||||
| 415 |
* | RadNet, Inc |
2,751 | |||||
| 1,903 |
e | Resmed, Inc |
96,349 | |||||
| 629 |
*,e | Rockwell Medical Technologies, Inc |
7,542 | |||||
| 611 |
* | RTI Biologics, Inc |
2,658 | |||||
| 1,073 |
Select Medical Holdings Corp |
16,739 | ||||||
| 768 |
* | Sirona Dental Systems, Inc |
63,329 | |||||
| 246 |
* | Skilled Healthcare Group, Inc (Class A) |
1,547 | |||||
| 526 |
* | Spectranetics Corp |
12,035 | |||||
| 3,613 |
St. Jude Medical, Inc |
250,200 | ||||||
| 515 |
* | Staar Surgical Co |
8,652 | |||||
| 793 |
STERIS Corp |
42,410 | ||||||
| 4,303 |
Stryker Corp |
362,829 | ||||||
| 169 |
* | Surgical Care Affiliates, Inc |
4,915 | |||||
| 147 |
* | SurModics, Inc |
3,149 | |||||
| 503 |
* | Symmetry Medical, Inc |
4,457 | |||||
| 112 |
* | Tandem Diabetes Care, Inc |
1,821 | |||||
| 929 |
* | Team Health Holdings, Inc |
46,394 | |||||
| 343 |
*,e | TearLab Corp |
1,670 | |||||
| 578 |
Teleflex, Inc |
61,037 | ||||||
| 1,310 |
* | Tenet Healthcare Corp |
61,491 | |||||
| 748 |
* | Thoratec Corp |
26,075 | |||||
| 477 |
* | Tornier BV |
11,152 | |||||
| 385 |
* | TransEnterix, Inc |
1,940 | |||||
| 334 |
* | Triple-S Management Corp (Class B) |
5,989 | |||||
| 100 |
* | TriVascular Technologies, Inc |
1,557 | |||||
| 1,379 |
*,e | Unilife Corp |
4,082 | |||||
| 13,145 |
UnitedHealth Group, Inc |
1,074,604 | ||||||
57
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 567 |
Universal American Corp |
$ | 4,723 | |||||
| 1,192 |
Universal Health Services, Inc (Class B) |
114,146 | ||||||
| 164 |
US Physical Therapy, Inc |
5,607 | ||||||
| 40 |
Utah Medical Products, Inc |
2,058 | ||||||
| 1,474 |
* | Varian Medical Systems, Inc |
122,548 | |||||
| 200 |
* | Vascular Solutions, Inc |
4,438 | |||||
| 1,163 |
* | VCA Antech, Inc |
40,810 | |||||
| 508 |
*,e | Veeva Systems, Inc |
12,929 | |||||
| 87 |
* | Veracyte, Inc |
1,489 | |||||
| 275 |
* | Vocera Communications, Inc |
3,630 | |||||
| 677 |
* | Volcano Corp |
11,922 | |||||
| 603 |
* | WellCare Health Plans, Inc |
45,020 | |||||
| 3,752 |
WellPoint, Inc |
403,753 | ||||||
| 980 |
West Pharmaceutical Services, Inc |
41,336 | ||||||
| 750 |
* | Wright Medical Group, Inc |
23,550 | |||||
| 390 |
*,e | Zeltiq Aesthetics, Inc |
5,924 | |||||
| 2,251 |
Zimmer Holdings, Inc |
233,789 | ||||||
|
|
|
|||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
13,316,424 | |||||||
|
|
|
|||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 1.8% |
||||||||
| 5,788 |
Avon Products, Inc |
84,563 | ||||||
| 580 |
* | Central Garden and Pet Co (Class A) |
5,336 | |||||
| 1,779 |
Church & Dwight Co, Inc |
124,441 | ||||||
| 1,658 |
Clorox Co |
151,541 | ||||||
| 12,280 |
Colgate-Palmolive Co |
837,250 | ||||||
| 773 |
Coty, Inc |
13,241 | ||||||
| 350 |
* | Elizabeth Arden, Inc |
7,497 | |||||
| 804 |
Energizer Holdings, Inc |
98,112 | ||||||
| 3,095 |
Estee Lauder Cos (Class A) |
229,835 | ||||||
| 204 |
e | Female Health Co |
1,124 | |||||
| 939 |
* | Harbinger Group, Inc |
11,925 | |||||
| 1,140 |
e | Herbalife Ltd |
73,576 | |||||
| 386 |
* | IGI Laboratories, Inc |
2,050 | |||||
| 223 |
Inter Parfums, Inc |
6,590 | ||||||
| 5,055 |
Kimberly-Clark Corp |
562,217 | ||||||
| 152 |
* | Medifast, Inc |
4,622 | |||||
| 140 |
Nature’s Sunshine Products, Inc |
2,376 | ||||||
| 791 |
Nu Skin Enterprises, Inc (Class A) |
58,502 | ||||||
| 127 |
* | Nutraceutical International Corp |
3,030 | |||||
| 63 |
Oil-Dri Corp of America |
1,926 | ||||||
| 108 |
Orchids Paper Products Co |
3,460 | ||||||
| 36,480 |
Procter & Gamble Co |
2,866,963 | ||||||
| 106 |
* | Revlon, Inc (Class A) |
3,233 | |||||
| 291 |
Spectrum Brands, Inc |
25,035 | ||||||
| 92 |
*,e | USANA Health Sciences, Inc |
7,189 | |||||
| 208 |
WD-40 Co |
15,646 | ||||||
|
|
|
|||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
5,201,280 | |||||||
|
|
|
|||||||
| INSURANCE - 4.0% |
||||||||
| 4,530 |
ACE Ltd |
469,761 | ||||||
| 6,062 |
Aflac, Inc |
377,359 | ||||||
| 221 |
* | Alleghany Corp |
96,825 | |||||
| 1,322 |
Allied World Assurance Co Holdings Ltd |
50,262 | ||||||
| 5,822 |
Allstate Corp |
341,868 | ||||||
| 587 |
* | AMBAC Financial Group, Inc |
16,031 | |||||
| 836 |
American Equity Investment Life Holding Co |
20,566 | ||||||
| 972 |
American Financial Group, Inc |
57,892 | ||||||
| 19,829 |
American International Group, Inc |
1,082,267 | ||||||
| 85 |
American National Insurance Co |
9,707 | ||||||
| 202 |
Amerisafe, Inc |
8,215 | ||||||
| 354 |
e | Amtrust Financial Services, Inc |
14,801 | |||||
| 3,980 |
Aon plc |
358,558 | ||||||
| 1,799 |
* | Arch Capital Group Ltd |
103,335 | |||||
| 351 |
Argo Group International Holdings Ltd |
17,940 | ||||||
| 2,107 |
Arthur J. Gallagher & Co |
98,186 | ||||||
58
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 878 |
Aspen Insurance Holdings Ltd |
$ | 39,879 | |||||
| 961 |
Assurant, Inc |
62,994 | ||||||
| 2,410 |
Assured Guaranty Ltd |
59,045 | ||||||
| 154 |
* | Atlas Financial Holdings, Inc |
2,335 | |||||
| 1,446 |
Axis Capital Holdings Ltd |
64,029 | ||||||
| 125 |
Baldwin & Lyons, Inc (Class B) |
3,242 | ||||||
| 24,411 |
* | Berkshire Hathaway, Inc (Class B) |
3,089,456 | |||||
| 1,753 |
Brown & Brown, Inc |
53,835 | ||||||
| 3,280 |
Chubb Corp |
302,318 | ||||||
| 2,243 |
Cincinnati Financial Corp |
107,754 | ||||||
| 590 |
*,e | Citizens, Inc (Class A) |
4,366 | |||||
| 303 |
CNA Financial Corp |
12,247 | ||||||
| 2,903 |
Conseco, Inc |
51,673 | ||||||
| 375 |
Crawford & Co (Class B) |
3,780 | ||||||
| 143 |
Donegal Group, Inc (Class A) |
2,188 | ||||||
| 280 |
* | eHealth, Inc |
10,632 | |||||
| 60 |
EMC Insurance Group, Inc |
1,847 | ||||||
| 421 |
Employers Holdings, Inc |
8,917 | ||||||
| 551 |
e | Endurance Specialty Holdings Ltd |
28,426 | |||||
| 108 |
* | Enstar Group Ltd |
16,279 | |||||
| 396 |
Erie Indemnity Co (Class A) |
29,803 | ||||||
| 619 |
Everest Re Group Ltd |
99,343 | ||||||
| 130 |
FBL Financial Group, Inc (Class A) |
5,980 | ||||||
| 152 |
Federated National Holding Co |
3,876 | ||||||
| 3,669 |
Fidelity National Title Group, Inc (Class A) |
120,196 | ||||||
| 1,423 |
First American Financial Corp |
39,545 | ||||||
| 6,657 |
* | Genworth Financial, Inc (Class A) |
115,832 | |||||
| 327 |
* | Greenlight Capital Re Ltd (Class A) |
10,771 | |||||
| 136 |
* | Hallmark Financial Services |
1,462 | |||||
| 539 |
Hanover Insurance Group, Inc |
34,038 | ||||||
| 6,033 |
Hartford Financial Services Group, Inc |
216,042 | ||||||
| 1,340 |
HCC Insurance Holdings, Inc |
65,580 | ||||||
| 121 |
e | HCI Group, Inc |
4,913 | |||||
| 909 |
* | Hilltop Holdings, Inc |
19,325 | |||||
| 467 |
Horace Mann Educators Corp |
14,603 | ||||||
| 154 |
Infinity Property & Casualty Corp |
10,353 | ||||||
| 51 |
Kansas City Life Insurance Co |
2,319 | ||||||
| 614 |
Kemper Corp |
22,632 | ||||||
| 3,399 |
Lincoln National Corp |
174,845 | ||||||
| 4,326 |
Loews Corp |
190,387 | ||||||
| 553 |
Maiden Holdings Ltd |
6,686 | ||||||
| 187 |
* | Markel Corp |
122,605 | |||||
| 7,594 |
Marsh & McLennan Cos, Inc |
393,521 | ||||||
| 1,899 |
* | MBIA, Inc |
20,965 | |||||
| 694 |
Meadowbrook Insurance Group, Inc |
4,990 | ||||||
| 361 |
Mercury General Corp |
16,981 | ||||||
| 12,526 |
Metlife, Inc |
695,945 | ||||||
| 525 |
Montpelier Re Holdings Ltd |
16,774 | ||||||
| 415 |
National General Holdings Corp |
7,221 | ||||||
| 95 |
National Interstate Corp |
2,662 | ||||||
| 92 |
National Western Life Insurance Co (Class A) |
22,946 | ||||||
| 149 |
* | Navigators Group, Inc |
9,990 | |||||
| 3,288 |
Old Republic International Corp |
54,384 | ||||||
| 313 |
OneBeacon Insurance Group Ltd (Class A) |
4,864 | ||||||
| 678 |
PartnerRe Ltd |
74,044 | ||||||
| 83 |
* | Phoenix Cos, Inc |
4,016 | |||||
| 369 |
Platinum Underwriters Holdings Ltd |
23,930 | ||||||
| 747 |
Primerica, Inc |
35,744 | ||||||
| 3,879 |
Principal Financial Group |
195,812 | ||||||
| 800 |
ProAssurance Corp |
35,520 | ||||||
| 7,942 |
Progressive Corp |
201,409 | ||||||
| 1,036 |
Protective Life Corp |
71,826 | ||||||
| 6,101 |
Prudential Financial, Inc |
541,586 | ||||||
| 927 |
Reinsurance Group of America, Inc (Class A) |
73,140 | ||||||
| 583 |
RenaissanceRe Holdings Ltd |
62,381 | ||||||
| 536 |
RLI Corp |
24,538 | ||||||
59
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 174 |
Safety Insurance Group, Inc |
$ | 8,940 | |||||
| 656 |
Selective Insurance Group, Inc |
16,216 | ||||||
| 587 |
Stancorp Financial Group, Inc |
37,568 | ||||||
| 200 |
State Auto Financial Corp |
4,686 | ||||||
| 288 |
Stewart Information Services Corp |
8,931 | ||||||
| 1,030 |
Symetra Financial Corp |
23,422 | ||||||
| 598 |
* | Third Point Reinsurance Ltd |
9,125 | |||||
| 1,178 |
Torchmark Corp |
96,502 | ||||||
| 354 |
e | Tower Group International Ltd |
637 | |||||
| 4,643 |
Travelers Cos, Inc |
436,767 | ||||||
| 110 |
* | United America Indemnity Ltd |
2,859 | |||||
| 234 |
United Fire & Casualty Co |
6,861 | ||||||
| 144 |
United Insurance Holdings Corp |
2,485 | ||||||
| 384 |
Universal Insurance Holdings, Inc |
4,980 | ||||||
| 3,453 |
UnumProvident Corp |
120,026 | ||||||
| 1,218 |
Validus Holdings Ltd |
46,576 | ||||||
| 1,346 |
W.R. Berkley Corp |
62,333 | ||||||
| 78 |
White Mountains Insurance Group Ltd |
47,458 | ||||||
| 3,642 |
XL Capital Ltd |
119,203 | ||||||
|
|
|
|||||||
| TOTAL INSURANCE |
12,010,715 | |||||||
|
|
|
|||||||
| MATERIALS - 3.9% |
||||||||
| 412 |
A. Schulman, Inc |
15,944 | ||||||
| 484 |
* | Advanced Emissions Solutions, Inc |
11,098 | |||||
| 78 |
* | AEP Industries, Inc |
2,720 | |||||
| 2,855 |
Air Products & Chemicals, Inc |
367,210 | ||||||
| 997 |
Airgas, Inc |
108,583 | ||||||
| 1,834 |
*,e | AK Steel Holding Corp |
14,599 | |||||
| 1,067 |
Albemarle Corp |
76,290 | ||||||
| 15,726 |
Alcoa, Inc |
234,160 | ||||||
| 1,456 |
Allegheny Technologies, Inc |
65,666 | ||||||
| 1,470 |
*,e | Allied Nevada Gold Corp |
5,527 | |||||
| 350 |
American Vanguard Corp |
4,627 | ||||||
| 79 |
Ampco-Pittsburgh Corp |
1,812 | ||||||
| 1,019 |
Aptargroup, Inc |
68,283 | ||||||
| 1,042 |
Ashland, Inc |
113,307 | ||||||
| 1,277 |
Avery Dennison Corp |
65,446 | ||||||
| 932 |
Axiall Corp |
44,056 | ||||||
| 437 |
Balchem Corp |
23,406 | ||||||
| 1,890 |
Ball Corp |
118,465 | ||||||
| 1,348 |
Bemis Co, Inc |
54,810 | ||||||
| 1,146 |
* | Berry Plastics Group, Inc |
29,567 | |||||
| 511 |
* | Boise Cascade Co |
14,635 | |||||
| 300 |
Brush Engineered Materials, Inc |
11,097 | ||||||
| 989 |
Cabot Corp |
57,352 | ||||||
| 730 |
* | Calgon Carbon Corp |
16,301 | |||||
| 712 |
Carpenter Technology Corp |
45,034 | ||||||
| 200 |
*,e | Castle (A.M.) & Co |
2,208 | |||||
| 2,092 |
Celanese Corp (Series A) |
134,474 | ||||||
| 742 |
* | Century Aluminum Co |
11,635 | |||||
| 703 |
CF Industries Holdings, Inc |
169,093 | ||||||
| 90 |
Chase Corp |
3,073 | ||||||
| 1,559 |
* | Chemtura |
40,737 | |||||
| 274 |
* | Clearwater Paper Corp |
16,911 | |||||
| 2,110 |
e | Cliffs Natural Resources, Inc |
31,755 | |||||
| 1,418 |
* | Coeur d’Alene Mines Corp |
13,017 | |||||
| 1,538 |
Commercial Metals Co |
26,623 | ||||||
| 452 |
Compass Minerals International, Inc |
43,274 | ||||||
| 1,864 |
* | Crown Holdings, Inc |
92,753 | |||||
| 481 |
Cytec Industries, Inc |
50,707 | ||||||
| 127 |
Deltic Timber Corp |
7,673 | ||||||
| 860 |
Domtar Corp |
36,851 | ||||||
| 16,168 |
Dow Chemical Co |
832,005 | ||||||
| 12,199 |
Du Pont (E.I.) de Nemours & Co |
798,303 | ||||||
| 671 |
Eagle Materials, Inc |
63,262 | ||||||
60
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,921 |
Eastman Chemical Co |
$ | 167,799 | |||||
| 3,576 |
Ecolab, Inc |
398,152 | ||||||
| 962 |
* | Ferro Corp |
12,083 | |||||
| 835 |
* | Flotek Industries, Inc |
26,854 | |||||
| 1,786 |
FMC Corp |
127,145 | ||||||
| 13,991 |
Freeport-McMoRan Copper & Gold, Inc (Class B) |
510,671 | ||||||
| 235 |
FutureFuel Corp |
3,899 | ||||||
| 1,260 |
*,e | General Moly, Inc |
1,449 | |||||
| 553 |
Glatfelter |
14,671 | ||||||
| 856 |
Globe Specialty Metals, Inc |
17,788 | ||||||
| 509 |
e | Gold Resource Corp |
2,576 | |||||
| 4,205 |
* | Graphic Packaging Holding Co |
49,198 | |||||
| 417 |
Greif, Inc (Class A) |
22,752 | ||||||
| 672 |
H.B. Fuller Co |
32,323 | ||||||
| 142 |
Hawkins, Inc |
5,274 | ||||||
| 166 |
Haynes International, Inc |
9,394 | ||||||
| 985 |
* | Headwaters, Inc |
13,682 | |||||
| 4,603 |
e | Hecla Mining Co |
15,880 | |||||
| 716 |
* | Horsehead Holding Corp |
13,074 | |||||
| 2,705 |
Huntsman Corp |
76,010 | ||||||
| 294 |
Innophos Holdings, Inc |
16,926 | ||||||
| 327 |
Innospec, Inc |
14,117 | ||||||
| 1,075 |
International Flavors & Fragrances, Inc |
112,101 | ||||||
| 5,896 |
International Paper Co |
297,571 | ||||||
| 748 |
*,e | Intrepid Potash, Inc |
12,536 | |||||
| 245 |
Kaiser Aluminum Corp |
17,853 | ||||||
| 1,135 |
* | Kapstone Paper and Packaging Corp |
37,603 | |||||
| 75 |
KMG Chemicals, Inc |
1,348 | ||||||
| 239 |
Koppers Holdings, Inc |
9,142 | ||||||
| 396 |
* | Kraton Polymers LLC |
8,866 | |||||
| 274 |
Kronos Worldwide, Inc |
4,294 | ||||||
| 359 |
* | Landec Corp |
4,484 | |||||
| 1,868 |
* | Louisiana-Pacific Corp |
28,057 | |||||
| 229 |
* | LSB Industries, Inc |
9,542 | |||||
| 5,915 |
LyondellBasell Industries AF S.C.A |
577,600 | ||||||
| 658 |
Martin Marietta Materials, Inc |
86,889 | ||||||
| 2,107 |
MeadWestvaco Corp |
93,256 | ||||||
| 492 |
Minerals Technologies, Inc |
32,265 | ||||||
| 2,443 |
*,e | Molycorp, Inc |
6,278 | |||||
| 7,032 |
Monsanto Co |
877,172 | ||||||
| 4,489 |
Mosaic Co |
221,981 | ||||||
| 371 |
Myers Industries, Inc |
7,453 | ||||||
| 208 |
Neenah Paper, Inc |
11,055 | ||||||
| 129 |
NewMarket Corp |
50,582 | ||||||
| 6,649 |
Newmont Mining Corp |
169,151 | ||||||
| 707 |
Noranda Aluminium Holding Corp |
2,496 | ||||||
| 4,272 |
Nucor Corp |
210,396 | ||||||
| 1,054 |
Olin Corp |
28,374 | ||||||
| 170 |
Olympic Steel, Inc |
4,207 | ||||||
| 431 |
OM Group, Inc |
13,977 | ||||||
| 511 |
* | Omnova Solutions, Inc |
4,645 | |||||
| 2,214 |
* | Owens-Illinois, Inc |
76,693 | |||||
| 1,308 |
Packaging Corp of America |
93,509 | ||||||
| 988 |
* | Platform Specialty Products Corp |
27,694 | |||||
| 1,229 |
PolyOne Corp |
51,790 | ||||||
| 1,855 |
PPG Industries, Inc |
389,828 | ||||||
| 3,930 |
Praxair, Inc |
522,061 | ||||||
| 166 |
Quaker Chemical Corp |
12,747 | ||||||
| 593 |
* | Rayonier Advanced Materials, Inc |
22,992 | |||||
| 1,043 |
Reliance Steel & Aluminum Co |
76,880 | ||||||
| 3,125 |
* | Rentech, Inc |
8,094 | |||||
| 875 |
*,e | Resolute Forest Products |
14,682 | |||||
| 963 |
Rock-Tenn Co (Class A) |
101,683 | ||||||
| 1,021 |
Rockwood Holdings, Inc |
77,586 | ||||||
| 838 |
Royal Gold, Inc |
63,789 | ||||||
| 1,667 |
RPM International, Inc |
76,982 | ||||||
61
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 412 |
* | RTI International Metals, Inc |
$ | 10,955 | ||||
| 246 |
Schnitzer Steel Industries, Inc (Class A) |
6,413 | ||||||
| 409 |
Schweitzer-Mauduit International, Inc |
17,857 | ||||||
| 601 |
Scotts Miracle-Gro Co (Class A) |
34,173 | ||||||
| 2,568 |
Sealed Air Corp |
87,749 | ||||||
| 570 |
* | Senomyx, Inc |
4,930 | |||||
| 694 |
Sensient Technologies Corp |
38,670 | ||||||
| 1,155 |
Sherwin-Williams Co |
238,981 | ||||||
| 1,656 |
Sigma-Aldrich Corp |
168,051 | ||||||
| 581 |
Silgan Holdings, Inc |
29,526 | ||||||
| 1,370 |
Sonoco Products Co |
60,184 | ||||||
| 2,091 |
Southern Copper Corp (NY) |
63,504 | ||||||
| 2,996 |
Steel Dynamics, Inc |
53,778 | ||||||
| 258 |
Stepan Co |
13,638 | ||||||
| 1,631 |
* | Stillwater Mining Co |
28,624 | |||||
| 936 |
* | SunCoke Energy, Inc |
20,124 | |||||
| 1,126 |
* | Tahoe Resources, Inc |
29,501 | |||||
| 382 |
* | Taminco Corp |
8,885 | |||||
| 298 |
*,e | Texas Industries, Inc |
27,523 | |||||
| 254 |
* | Trecora Resources |
3,007 | |||||
| 333 |
Tredegar Corp |
7,796 | ||||||
| 824 |
Tronox Ltd |
22,166 | ||||||
| 70 |
* | UFP Technologies, Inc |
1,686 | |||||
| 30 |
United States Lime & Minerals, Inc |
1,944 | ||||||
| 1,941 |
e | United States Steel Corp |
50,544 | |||||
| 72 |
* | Universal Stainless & Alloy |
2,339 | |||||
| 179 |
* | US Concrete, Inc |
4,430 | |||||
| 721 |
US Silica Holdings Inc |
39,972 | ||||||
| 1,192 |
Valspar Corp |
90,818 | ||||||
| 1,685 |
Vulcan Materials Co |
107,419 | ||||||
| 952 |
e | Walter Energy, Inc |
5,188 | |||||
| 624 |
Wausau Paper Corp |
6,752 | ||||||
| 546 |
Westlake Chemical Corp |
45,733 | ||||||
| 708 |
Worthington Industries, Inc |
30,472 | ||||||
| 1,024 |
* | WR Grace & Co |
96,799 | |||||
| 260 |
Zep, Inc |
4,592 | ||||||
|
|
|
|||||||
| TOTAL MATERIALS |
11,518,973 | |||||||
|
|
|
|||||||
| MEDIA - 3.4% |
||||||||
| 252 |
AH Belo Corp (Class A) |
2,986 | ||||||
| 171 |
AMC Entertainment Holdings, Inc |
4,253 | ||||||
| 790 |
* | AMC Networks, Inc |
48,577 | |||||
| 60 |
Beasley Broadcasting Group, Inc |
381 | ||||||
| 2,623 |
e | Cablevision Systems Corp (Class A) |
46,296 | |||||
| 409 |
* | Carmike Cinemas, Inc |
14,368 | |||||
| 7,624 |
CBS Corp (Class B) |
473,755 | ||||||
| 301 |
CBS Outdoor Americas, Inc |
9,837 | ||||||
| 947 |
*,e | Central European Media Enterprises Ltd (Class A) (NASDAQ) |
2,671 | |||||
| 1,047 |
* | Charter Communications, Inc |
165,824 | |||||
| 1,461 |
Cinemark Holdings, Inc |
51,661 | ||||||
| 566 |
Clear Channel Outdoor Holdings, Inc (Class A) |
4,630 | ||||||
| 34,849 |
Comcast Corp (Class A) |
1,870,694 | ||||||
| 465 |
* | Crown Media Holdings, Inc (Class A) |
1,688 | |||||
| 1,819 |
* | Cumulus Media, Inc (Class A) |
11,987 | |||||
| 15 |
*,e | Daily Journal Corp |
3,100 | |||||
| 219 |
*,e | Dex Media, Inc |
2,440 | |||||
| 6,276 |
* | DIRECTV |
533,523 | |||||
| 3,079 |
* | Discovery Communications, Inc (Class A) |
228,708 | |||||
| 2,861 |
* | DISH Network Corp (Class A) |
186,194 | |||||
| 943 |
*,e | DreamWorks Animation SKG, Inc (Class A) |
21,934 | |||||
| 285 |
* | Entercom Communications Corp (Class A) |
3,058 | |||||
| 776 |
Entravision Communications Corp (Class A) |
4,827 | ||||||
| 219 |
* | Eros International plc |
3,322 | |||||
| 414 |
* | EW Scripps Co (Class A) |
8,760 | |||||
| 2,766 |
Gannett Co, Inc |
86,603 | ||||||
62
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 134 |
*,e | Global Sources Ltd |
$ | 1,109 | ||||
| 966 |
* | Gray Television, Inc |
12,684 | |||||
| 700 |
Harte-Hanks, Inc |
5,033 | ||||||
| 5,693 |
Interpublic Group of Cos, Inc |
111,070 | ||||||
| 571 |
John Wiley & Sons, Inc (Class A) |
34,597 | ||||||
| 601 |
* | Journal Communications, Inc (Class A) |
5,331 | |||||
| 1,066 |
Lamar Advertising Co (Class A) |
56,498 | ||||||
| 719 |
* | Lee Enterprises, Inc |
3,200 | |||||
| 31 |
* | Liberty Global plc |
1,312 | |||||
| 1,273 |
* | Liberty Media Corp |
173,994 | |||||
| 1,079 |
e | Lions Gate Entertainment Corp |
30,838 | |||||
| 1,880 |
* | Live Nation, Inc |
46,417 | |||||
| 175 |
* | Loral Space & Communications, Inc |
12,721 | |||||
| 800 |
* | Madison Square Garden, Inc |
49,960 | |||||
| 239 |
* | Martha Stewart Living Omnimedia, Inc (Class A) |
1,123 | |||||
| 821 |
* | McClatchy Co (Class A) |
4,557 | |||||
| 554 |
MDC Partners, Inc |
11,905 | ||||||
| 690 |
*,e | Media General, Inc (Class A) |
14,166 | |||||
| 465 |
Meredith Corp |
22,487 | ||||||
| 279 |
Morningstar, Inc |
20,035 | ||||||
| 760 |
National CineMedia, Inc |
13,308 | ||||||
| 403 |
* | New Media Investment Group, Inc |
5,686 | |||||
| 1,789 |
New York Times Co (Class A) |
27,211 | ||||||
| 6,672 |
* | News Corp |
119,696 | |||||
| 397 |
e | Nexstar Broadcasting Group, Inc (Class A) |
20,489 | |||||
| 3,467 |
Omnicom Group, Inc |
246,920 | ||||||
| 214 |
* | Radio One, Inc |
1,055 | |||||
| 120 |
*,e | ReachLocal, Inc |
844 | |||||
| 210 |
* | Reading International, Inc |
1,791 | |||||
| 1,106 |
e | Regal Entertainment Group (Class A) |
23,337 | |||||
| 114 |
* | Rentrak Corp |
5,979 | |||||
| 51 |
Saga Communications, Inc |
2,179 | ||||||
| 130 |
Salem Communications |
1,230 | ||||||
| 365 |
Scholastic Corp |
12,443 | ||||||
| 1,417 |
Scripps Networks Interactive (Class A) |
114,975 | ||||||
| 322 |
* | SFX Entertainment, Inc |
2,608 | |||||
| 899 |
e | Sinclair Broadcast Group, Inc (Class A) |
31,240 | |||||
| 37,275 |
*,e | Sirius XM Holdings, Inc |
128,971 | |||||
| 300 |
* | Sizmek, Inc |
2,859 | |||||
| 1,255 |
* | Starz-Liberty Capital |
37,386 | |||||
| 4,900 |
e | Thomson Corp |
178,164 | |||||
| 3,753 |
Time Warner Cable, Inc |
552,817 | ||||||
| 11,863 |
Time Warner, Inc |
833,376 | ||||||
| 1,479 |
* | Time, Inc |
35,821 | |||||
| 25,673 |
Twenty-First Century Fox, Inc |
902,406 | ||||||
| 5,771 |
Viacom, Inc (Class B) |
500,519 | ||||||
| 23,261 |
Walt Disney Co |
1,994,398 | ||||||
| 251 |
e | World Wrestling Entertainment, Inc (Class A) |
2,994 | |||||
|
|
|
|||||||
| TOTAL MEDIA |
10,211,816 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.4% |
||||||||
| 21,330 |
AbbVie, Inc |
1,203,865 | ||||||
| 1,057 |
*,e | Acadia Pharmaceuticals, Inc |
23,878 | |||||
| 305 |
* | Accelerate Diagnostics, Inc |
7,930 | |||||
| 221 |
*,e | Acceleron Pharma, Inc |
7,507 | |||||
| 332 |
* | AcelRx Pharmaceuticals, Inc |
3,403 | |||||
| 93 |
* | Achaogen, Inc |
1,298 | |||||
| 1,268 |
*,e | Achillion Pharmaceuticals, Inc |
9,599 | |||||
| 533 |
* | Acorda Therapeutics, Inc |
17,967 | |||||
| 2,377 |
* | Actavis plc |
530,190 | |||||
| 266 |
* | Actinium Pharmaceuticals, Inc |
1,921 | |||||
| 373 |
*,e | Aegerion Pharmaceuticals, Inc |
11,970 | |||||
| 141 |
* | Aerie Pharmaceuticals, Inc |
3,493 | |||||
| 970 |
*,e | Affymetrix, Inc |
8,643 | |||||
| 834 |
* | Agenus, Inc |
2,685 | |||||
63
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 4,473 |
Agilent Technologies, Inc |
$ | 256,929 | |||||
| 182 |
* | Agios Pharmaceuticals, Inc |
8,339 | |||||
| 105 |
* | Akebia Therapeutics, Inc |
2,918 | |||||
| 902 |
* | Akorn, Inc |
29,991 | |||||
| 309 |
*,e | Albany Molecular Research, Inc |
6,217 | |||||
| 107 |
* | Alder Biopharmaceuticals, Inc |
2,147 | |||||
| 2,665 |
* | Alexion Pharmaceuticals, Inc |
416,406 | |||||
| 352 |
* | Alimera Sciences, Inc |
2,105 | |||||
| 1,939 |
* | Alkermes plc |
97,590 | |||||
| 3,992 |
Allergan, Inc |
675,526 | ||||||
| 891 |
*,e | Alnylam Pharmaceuticals, Inc |
56,284 | |||||
| 252 |
*,e | AMAG Pharmaceuticals, Inc |
5,221 | |||||
| 10,172 |
Amgen, Inc |
1,204,060 | ||||||
| 549 |
* | Ampio Pharmaceuticals, Inc |
4,584 | |||||
| 442 |
*,e | Anacor Pharmaceuticals, Inc |
7,837 | |||||
| 92 |
* | ANI Pharmaceuticals, Inc |
3,168 | |||||
| 65 |
* | Applied Genetic Technologies Corp |
1,501 | |||||
| 328 |
* | Aratana Therapeutics, Inc |
5,120 | |||||
| 3,077 |
*,e | Arena Pharmaceuticals, Inc |
18,031 | |||||
| 2,277 |
*,e | Ariad Pharmaceuticals, Inc |
14,504 | |||||
| 744 |
*,e | Arqule, Inc |
1,153 | |||||
| 1,535 |
* | Array Biopharma, Inc |
7,000 | |||||
| 696 |
* | Arrowhead Research Corp |
9,960 | |||||
| 108 |
* | Auspex Pharmaceuticals Inc |
2,405 | |||||
| 674 |
*,e | Auxilium Pharmaceuticals, Inc |
13,520 | |||||
| 2,170 |
* | AVANIR Pharmaceuticals, Inc |
12,239 | |||||
| 489 |
*,e | AVEO Pharmaceuticals, Inc |
895 | |||||
| 915 |
* | BioCryst Pharmaceuticals, Inc |
11,666 | |||||
| 561 |
*,e | BioDelivery Sciences International, Inc |
6,771 | |||||
| 3,194 |
* | Biogen Idec, Inc |
1,007,100 | |||||
| 1,970 |
* | BioMarin Pharmaceuticals, Inc |
122,554 | |||||
| 984 |
* | Bio-Path Holdings, Inc |
3,001 | |||||
| 319 |
* | Bio-Rad Laboratories, Inc (Class A) |
38,187 | |||||
| 49 |
* | Biospecifics Technologies Corp |
1,321 | |||||
| 252 |
*,e | Biotime, Inc |
769 | |||||
| 256 |
* | Bluebird Bio, Inc |
9,874 | |||||
| 22,016 |
Bristol-Myers Squibb Co |
1,067,996 | ||||||
| 1,477 |
* | Bruker BioSciences Corp |
35,847 | |||||
| 396 |
* | Cambrex Corp |
8,197 | |||||
| 72 |
* | Cara Therapeutics Inc |
1,225 | |||||
| 10,742 |
* | Celgene Corp |
922,523 | |||||
| 1,210 |
*,e | Celldex Therapeutics, Inc |
19,747 | |||||
| 130 |
* | Cellular Dynamics International, Inc |
1,894 | |||||
| 307 |
* | Cempra, Inc |
3,294 | |||||
| 935 |
*,e | Cepheid, Inc |
44,824 | |||||
| 653 |
* | Charles River Laboratories International, Inc |
34,949 | |||||
| 316 |
*,e | ChemoCentryx, Inc |
1,849 | |||||
| 362 |
* | Chimerix, Inc |
7,942 | |||||
| 331 |
* | Clovis Oncology, Inc |
13,707 | |||||
| 492 |
*,e | Corcept Therapeutics, Inc |
1,378 | |||||
| 170 |
*,e | Coronado Biosciences, Inc |
292 | |||||
| 770 |
* | Covance, Inc |
65,897 | |||||
| 1,800 |
*,e | CTI BIOPHARMA CORP |
5,058 | |||||
| 857 |
* | Cubist Pharmaceuticals, Inc |
59,836 | |||||
| 754 |
*,e | Curis, Inc |
1,402 | |||||
| 327 |
* | Cytokinetics, Inc |
1,563 | |||||
| 335 |
*,e | Cytori Therapeutics, Inc |
801 | |||||
| 748 |
* | CytRx Corp |
3,127 | |||||
| 2,347 |
*,e | Dendreon Corp |
5,398 | |||||
| 778 |
* | Depomed, Inc |
10,814 | |||||
| 208 |
* | Durata Therapeutics, Inc |
3,542 | |||||
| 1,822 |
* | Dyax Corp |
17,491 | |||||
| 3,526 |
*,e | Dynavax Technologies Corp |
5,642 | |||||
| 13,198 |
Eli Lilly & Co |
820,520 | ||||||
| 392 |
* | Emergent Biosolutions, Inc |
8,804 | |||||
| 135 |
* | Enanta Pharmaceuticals, Inc |
5,814 | |||||
64
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,043 |
* | Endo International plc |
$ | 143,051 | ||||
| 379 |
*,e | Endocyte, Inc |
2,498 | |||||
| 458 |
* | Enzo Biochem, Inc |
2,404 | |||||
| 551 |
e | Enzon Pharmaceuticals, Inc |
573 | |||||
| 172 |
* | Epizyme, Inc |
5,353 | |||||
| 1,111 |
*,e | Exact Sciences Corp |
18,920 | |||||
| 2,612 |
*,e | Exelixis, Inc |
8,855 | |||||
| 231 |
* | Five Prime Therapeutics, Inc |
3,592 | |||||
| 376 |
* | Fluidigm Corp |
11,054 | |||||
| 3,764 |
* | Forest Laboratories, Inc |
372,636 | |||||
| 187 |
* | Foundation Medicine, Inc |
5,042 | |||||
| 104 |
* | Furiex Pharmaceuticals Inc |
11,043 | |||||
| 242 |
* | Galectin Therapeutics, Inc |
3,342 | |||||
| 1,383 |
*,e | Galena Biopharma, Inc |
4,232 | |||||
| 52 |
* | Genocea Biosciences Inc |
975 | |||||
| 270 |
* | Genomic Health, Inc |
7,398 | |||||
| 2,105 |
*,e | Geron Corp |
6,757 | |||||
| 20,645 |
* | Gilead Sciences, Inc |
1,711,677 | |||||
| 269 |
* | Golf Trust Of America, Inc |
2,416 | |||||
| 1,375 |
*,e | Halozyme Therapeutics, Inc |
13,585 | |||||
| 72 |
*,e | Harvard Apparatus Regenerative Technology, Inc |
752 | |||||
| 290 |
*,e | Harvard Bioscience, Inc |
1,319 | |||||
| 261 |
* | Heron Therapeutics, Inc |
3,216 | |||||
| 853 |
*,e | Horizon Pharma, Inc |
13,494 | |||||
| 2,242 |
* | Hospira, Inc |
115,172 | |||||
| 183 |
* | Hyperion Therapeutics, Inc |
4,776 | |||||
| 1,595 |
* | Idenix Pharmaceuticals, Inc |
38,440 | |||||
| 807 |
* | Idera Pharmaceuticals, Inc |
2,340 | |||||
| 1,721 |
* | Illumina, Inc |
307,267 | |||||
| 1,151 |
*,e | Immunogen, Inc |
13,639 | |||||
| 1,305 |
*,e | Immunomedics, Inc |
4,763 | |||||
| 940 |
* | Impax Laboratories, Inc |
28,191 | |||||
| 1,928 |
* | Incyte Corp |
108,816 | |||||
| 629 |
* | Infinity Pharmaceuticals, Inc |
8,013 | |||||
| 807 |
* | Inovio Pharmaceuticals, Inc |
8,724 | |||||
| 527 |
* | Insmed, Inc |
10,529 | |||||
| 143 |
*,e | Insys Therapeutics, Inc |
4,466 | |||||
| 167 |
* | Intercept Pharmaceuticals, Inc |
39,517 | |||||
| 1,322 |
* | InterMune, Inc |
58,366 | |||||
| 229 |
* | Intra-Cellular Therapies, Inc |
3,861 | |||||
| 478 |
* | Intrexon Corp |
12,012 | |||||
| 1,617 |
* | Ironwood Pharmaceuticals, Inc |
24,789 | |||||
| 1,577 |
*,e | Isis Pharmaceuticals, Inc |
54,328 | |||||
| 797 |
* | Jazz Pharmaceuticals plc |
117,167 | |||||
| 37,874 |
Johnson & Johnson |
3,962,378 | ||||||
| 180 |
*,e | Karyopharm Therapeutics, Inc |
8,379 | |||||
| 1,264 |
*,e | Keryx Biopharmaceuticals, Inc |
19,440 | |||||
| 141 |
* | Kindred Biosciences Inc |
2,628 | |||||
| 252 |
*,e | KYTHERA Biopharmaceuticals, Inc |
9,669 | |||||
| 345 |
* | Lannett Co, Inc |
17,119 | |||||
| 3,446 |
* | Lexicon Pharmaceuticals, Inc |
5,548 | |||||
| 278 |
* | Ligand Pharmaceuticals, Inc (Class B) |
17,317 | |||||
| 588 |
* | Luminex Corp |
10,084 | |||||
| 268 |
* | MacroGenics, Inc |
5,824 | |||||
| 780 |
*,e | Mallinckrodt plc |
62,416 | |||||
| 3,038 |
*,e | MannKind Corp |
33,388 | |||||
| 828 |
* | Medicines Co |
24,062 | |||||
| 1,025 |
* | Medivation, Inc |
79,007 | |||||
| 39,203 |
Merck & Co, Inc |
2,267,894 | ||||||
| 1,198 |
*,e | Merrimack Pharmaceuticals, Inc |
8,733 | |||||
| 407 |
* | Mettler-Toledo International, Inc |
103,044 | |||||
| 1,119 |
*,e | MiMedx Group, Inc |
7,934 | |||||
| 96 |
* | Mirati Therapeutics, Inc |
1,920 | |||||
| 571 |
* | Momenta Pharmaceuticals, Inc |
6,898 | |||||
| 5,014 |
* | Mylan Laboratories, Inc |
258,522 | |||||
65
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,004 |
*,e | Myriad Genetics, Inc |
$ | 39,076 | ||||
| 135 |
* | NanoString Technologies, Inc |
2,018 | |||||
| 538 |
* | NanoViricides, Inc |
2,260 | |||||
| 2,022 |
*,e | Navidea Biopharmceuticals, Inc |
2,993 | |||||
| 1,670 |
* | Nektar Therapeutics |
21,409 | |||||
| 317 |
* | NeoStem, Inc |
2,067 | |||||
| 922 |
* | Neuralstem, Inc |
3,891 | |||||
| 1,018 |
* | Neurocrine Biosciences, Inc |
15,107 | |||||
| 266 |
*,e | NewLink Genetics Corp |
7,062 | |||||
| 476 |
* | Northwest Biotherapeutics, Inc |
3,194 | |||||
| 2,808 |
*,e | Novavax, Inc |
12,973 | |||||
| 1,426 |
* | NPS Pharmaceuticals, Inc |
47,129 | |||||
| 282 |
* | Ohr Pharmaceutical, Inc |
2,682 | |||||
| 447 |
*,e | Omeros Corp |
7,778 | |||||
| 120 |
* | OncoGenex Pharmaceutical, Inc |
448 | |||||
| 170 |
* | OncoMed Pharmaceuticals, Inc |
3,961 | |||||
| 949 |
* | Oncothyreon, Inc |
3,075 | |||||
| 186 |
* | Ophthotech Corp |
7,870 | |||||
| 2,678 |
*,e | Opko Health, Inc |
23,674 | |||||
| 1,560 |
*,e | Orexigen Therapeutics, Inc |
9,641 | |||||
| 838 |
* | Organovo Holdings, Inc |
6,997 | |||||
| 254 |
*,e | Osiris Therapeutics, Inc |
3,967 | |||||
| 207 |
* | OvaScience, Inc |
1,898 | |||||
| 772 |
* | Pacific Biosciences of California, Inc |
4,771 | |||||
| 506 |
* | Pacira Pharmaceuticals, Inc |
46,481 | |||||
| 510 |
* | Pain Therapeutics, Inc |
2,933 | |||||
| 762 |
* | Parexel International Corp |
40,264 | |||||
| 2,085 |
e | PDL BioPharma, Inc |
20,183 | |||||
| 1,810 |
*,e | Peregrine Pharmaceuticals, Inc |
3,403 | |||||
| 1,519 |
PerkinElmer, Inc |
71,150 | ||||||
| 1,795 |
Perrigo Co plc |
261,639 | ||||||
| 85,569 |
Pfizer, Inc |
2,539,688 | ||||||
| 817 |
*,e | Pharmacyclics, Inc |
73,293 | |||||
| 197 |
* | Phibro Animal Health Corp |
4,324 | |||||
| 495 |
* | Portola Pharmaceuticals, Inc |
14,444 | |||||
| 322 |
Pozen, Inc |
2,682 | ||||||
| 621 |
* | Prestige Brands Holdings, Inc |
21,046 | |||||
| 933 |
* | Progenics Pharmaceuticals, Inc |
4,021 | |||||
| 294 |
* | Prothena Corp plc |
6,630 | |||||
| 298 |
* | PTC Therapeutics, Inc |
7,790 | |||||
| 309 |
* | Puma Biotechnology, Inc |
20,394 | |||||
| 3,176 |
*,e | Qiagen NV (NASDAQ) |
77,653 | |||||
| 818 |
e | Questcor Pharmaceuticals, Inc |
75,657 | |||||
| 758 |
* | Quintiles Transnational Holdings, Inc |
40,394 | |||||
| 840 |
*,e | Raptor Pharmaceutical Corp |
9,702 | |||||
| 207 |
* | Receptos, Inc |
8,818 | |||||
| 207 |
* | Regado Biosciences, Inc |
1,406 | |||||
| 1,058 |
* | Regeneron Pharmaceuticals, Inc |
298,853 | |||||
| 184 |
* | Regulus Therapeutics, Inc |
1,479 | |||||
| 227 |
* | Relypsa, Inc |
5,521 | |||||
| 390 |
* | Repligen Corp |
8,888 | |||||
| 310 |
*,e | Repros Therapeutics, Inc |
5,363 | |||||
| 285 |
* | Retrophin, Inc |
3,346 | |||||
| 93 |
* | Revance Therapeutics, Inc |
3,162 | |||||
| 854 |
* | Rigel Pharmaceuticals, Inc |
3,100 | |||||
| 214 |
* | Sagent Pharmaceuticals |
5,534 | |||||
| 851 |
* | Salix Pharmaceuticals Ltd |
104,971 | |||||
| 912 |
*,e | Sangamo Biosciences, Inc |
13,926 | |||||
| 552 |
*,e | Sarepta Therapeutics, Inc |
16,444 | |||||
| 716 |
* | Sciclone Pharmaceuticals, Inc |
3,766 | |||||
| 1,356 |
*,e | Seattle Genetics, Inc |
51,867 | |||||
| 1,561 |
*,e | Sequenom, Inc |
6,041 | |||||
| 310 |
*,e | SIGA Technologies, Inc |
874 | |||||
| 823 |
*,e | Spectrum Pharmaceuticals, Inc |
6,691 | |||||
| 119 |
* | Stemline Therapeutics, Inc |
1,746 | |||||
| 238 |
* | Sucampo Pharmaceuticals, Inc (Class A) |
1,642 | |||||
66
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 696 |
* | Sunesis Pharmaceuticals, Inc |
$ | 4,538 | ||||
| 393 |
*,e | Supernus Pharmaceuticals, Inc |
4,303 | |||||
| 287 |
*,e | Synageva BioPharma Corp |
30,078 | |||||
| 1,430 |
*,e | Synergy Pharmaceuticals, Inc |
5,820 | |||||
| 778 |
*,e | Synta Pharmaceuticals Corp |
3,182 | |||||
| 286 |
*,e | Targacept, Inc |
1,290 | |||||
| 506 |
Techne Corp |
46,840 | ||||||
| 259 |
* | TESARO, Inc |
8,057 | |||||
| 296 |
* | Tetraphase Pharmaceuticals, Inc |
3,993 | |||||
| 315 |
* | TG Therapeutics, Inc |
2,958 | |||||
| 1,599 |
*,e | TherapeuticsMD, Inc |
7,068 | |||||
| 316 |
*,e | Theravance Biopharma, Inc |
10,074 | |||||
| 1,105 |
*,e | Theravance, Inc |
32,907 | |||||
| 5,150 |
Thermo Electron Corp |
607,700 | ||||||
| 582 |
*,e | Threshold Pharmaceuticals, Inc |
2,305 | |||||
| 89 |
* | Ultragenyx Pharmaceutical, Inc |
3,995 | |||||
| 644 |
* | United Therapeutics Corp |
56,988 | |||||
| 454 |
*,e | Vanda Pharmaceuticals, Inc |
7,346 | |||||
| 182 |
*,e | Verastem, Inc |
1,649 | |||||
| 93 |
* | Versartis, Inc |
2,608 | |||||
| 3,177 |
* | Vertex Pharmaceuticals, Inc |
300,798 | |||||
| 423 |
*,e | Vical, Inc |
516 | |||||
| 69 |
* | Vital Therapies, Inc |
1,880 | |||||
| 1,259 |
*,e | Vivus, Inc |
6,698 | |||||
| 1,182 |
* | Waters Corp |
123,448 | |||||
| 196 |
* | Xencor Inc |
2,278 | |||||
| 288 |
* | Xenoport, Inc |
1,391 | |||||
| 1,173 |
* | XOMA Corp |
5,384 | |||||
| 1,089 |
*,e | ZIOPHARM Oncology, Inc |
4,389 | |||||
| 6,848 |
Zoetis Inc |
220,985 | ||||||
| 1,610 |
*,e | Zogenix, Inc |
3,236 | |||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
24,962,031 | |||||||
|
|
|
|||||||
| REAL ESTATE - 3.7% |
||||||||
| 770 |
Acadia Realty Trust |
21,629 | ||||||
| 370 |
AG Mortgage Investment Trust |
7,004 | ||||||
| 171 |
Agree Realty Corp |
5,169 | ||||||
| 654 |
Alexander & Baldwin, Inc |
27,108 | ||||||
| 28 |
Alexander’s, Inc |
10,345 | ||||||
| 1,010 |
Alexandria Real Estate Equities, Inc |
78,416 | ||||||
| 19 |
* | Altisource Asset Management Corp |
13,738 | |||||
| 196 |
* | Altisource Portfolio Solutions S.A. |
22,458 | |||||
| 766 |
Altisource Residential Corp |
19,939 | ||||||
| 481 |
American Assets Trust,Inc |
16,619 | ||||||
| 1,407 |
American Campus Communities, Inc |
53,804 | ||||||
| 4,878 |
American Capital Agency Corp |
114,194 | ||||||
| 778 |
American Capital Mortgage, Inc |
15,576 | ||||||
| 1,874 |
American Homes 4 Rent |
33,282 | ||||||
| 119 |
American Realty Capital Healthcare Trust, Inc |
1,296 | ||||||
| 12,181 |
American Realty Capital Properties, Inc |
152,628 | ||||||
| 432 |
* | American Residential Properties, Inc |
8,100 | |||||
| 5,437 |
American Tower Corp |
489,221 | ||||||
| 264 |
AmREIT, Inc (Class B) |
4,831 | ||||||
| 12,710 |
Annaly Capital Management, Inc |
145,275 | ||||||
| 1,733 |
Anworth Mortgage Asset Corp |
8,942 | ||||||
| 1,960 |
Apartment Investment & Management Co (Class A) |
63,249 | ||||||
| 619 |
Apollo Commercial Real Estate Finance, Inc |
10,207 | ||||||
| 100 |
Ares Commercial Real Estate Corp |
1,241 | ||||||
| 244 |
Armada Hoffler Properties, Inc |
2,362 | ||||||
| 4,902 |
ARMOUR Residential REIT, Inc |
21,226 | ||||||
| 252 |
Ashford Hospitality Prime, Inc |
4,324 | ||||||
| 940 |
Ashford Hospitality Trust, Inc |
10,848 | ||||||
| 672 |
Associated Estates Realty Corp |
12,109 | ||||||
| 110 |
* | AV Homes, Inc |
1,798 | |||||
| 1,739 |
AvalonBay Communities, Inc |
247,268 | ||||||
67
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 264 |
Aviv REIT, Inc |
$ | 7,437 | |||||
| 2,582 |
BioMed Realty Trust, Inc |
56,365 | ||||||
| 2,116 |
Boston Properties, Inc |
250,069 | ||||||
| 2,048 |
Brandywine Realty Trust |
31,949 | ||||||
| 678 |
Brixmor Property Group, Inc |
15,560 | ||||||
| 1,148 |
Camden Property Trust |
81,680 | ||||||
| 868 |
Campus Crest Communities, Inc |
7,517 | ||||||
| 1,285 |
Capstead Mortgage Corp |
16,898 | ||||||
| 270 |
* | CareTrust REIT, Inc |
5,346 | |||||
| 162 |
CatchMark Timber Trust Inc |
2,215 | ||||||
| 2,180 |
CBL & Associates Properties, Inc |
41,420 | ||||||
| 3,818 |
* | CBRE Group, Inc |
122,329 | |||||
| 1,018 |
Cedar Shopping Centers, Inc |
6,362 | ||||||
| 3,262 |
Chambers Street Properties |
26,226 | ||||||
| 354 |
Chatham Lodging Trust |
7,753 | ||||||
| 691 |
Chesapeake Lodging Trust |
20,889 | ||||||
| 13,535 |
Chimera Investment Corp |
43,177 | ||||||
| 1,239 |
Colony Financial, Inc |
28,770 | ||||||
| 801 |
Columbia Property Trust, Inc |
20,834 | ||||||
| 77 |
Consolidated-Tomoka Land Co |
3,534 | ||||||
| 282 |
Coresite Realty |
9,326 | ||||||
| 1,194 |
Corporate Office Properties Trust |
33,205 | ||||||
| 2,662 |
Cousins Properties, Inc |
33,142 | ||||||
| 4,482 |
Crown Castle International Corp |
332,833 | ||||||
| 1,936 |
CubeSmart |
35,467 | ||||||
| 254 |
CyrusOne, Inc |
6,325 | ||||||
| 2,264 |
CYS Investments, Inc |
20,421 | ||||||
| 4,414 |
DCT Industrial Trust, Inc |
36,239 | ||||||
| 4,170 |
DDR Corp |
73,517 | ||||||
| 2,598 |
DiamondRock Hospitality Co |
33,306 | ||||||
| 1,851 |
Digital Realty Trust, Inc |
107,950 | ||||||
| 1,927 |
Douglas Emmett, Inc |
54,380 | ||||||
| 4,573 |
Duke Realty Corp |
83,046 | ||||||
| 851 |
DuPont Fabros Technology, Inc |
22,943 | ||||||
| 1,055 |
Dynex Capital, Inc |
9,337 | ||||||
| 420 |
EastGroup Properties, Inc |
26,977 | ||||||
| 1,317 |
Education Realty Trust, Inc |
14,145 | ||||||
| 1,208 |
Empire State Realty Trust, Inc |
19,932 | ||||||
| 730 |
Entertainment Properties Trust |
40,785 | ||||||
| 1,120 |
Equity Lifestyle Properties, Inc |
49,459 | ||||||
| 824 |
Equity One, Inc |
19,438 | ||||||
| 4,845 |
Equity Residential |
305,235 | ||||||
| 861 |
Essex Property Trust, Inc |
159,207 | ||||||
| 629 |
Excel Trust, Inc |
8,385 | ||||||
| 1,582 |
Extra Space Storage, Inc |
84,241 | ||||||
| 920 |
Federal Realty Investment Trust |
111,246 | ||||||
| 1,666 |
FelCor Lodging Trust, Inc |
17,510 | ||||||
| 1,477 |
First Industrial Realty Trust, Inc |
27,827 | ||||||
| 788 |
First Potomac Realty Trust |
10,339 | ||||||
| 2,206 |
* | Forest City Enterprises, Inc (Class A) |
43,833 | |||||
| 498 |
* | Forestar Real Estate Group, Inc |
9,507 | |||||
| 1,181 |
Franklin Street Properties Corp |
14,857 | ||||||
| 1,131 |
Gaming and Leisure Properties, Inc |
38,420 | ||||||
| 7,718 |
General Growth Properties, Inc |
181,836 | ||||||
| 343 |
Getty Realty Corp |
6,544 | ||||||
| 475 |
Gladstone Commercial Corp |
8,488 | ||||||
| 1,772 |
Glimcher Realty Trust |
19,191 | ||||||
| 734 |
Government Properties Income Trust |
18,636 | ||||||
| 1,578 |
Gramercy Property Trust, Inc |
9,547 | ||||||
| 38 |
Griffin Land & Nurseries, Inc (Class A) |
1,121 | ||||||
| 292 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc |
4,187 | ||||||
| 1,296 |
Hatteras Financial Corp |
25,674 | ||||||
| 6,147 |
HCP, Inc |
254,363 | ||||||
| 4,121 |
Health Care REIT, Inc |
258,263 | ||||||
| 1,288 |
Healthcare Realty Trust, Inc |
32,741 | ||||||
| 3,183 |
Healthcare Trust of America, Inc |
38,323 | ||||||
68
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,705 |
Hersha Hospitality Trust |
$ | 18,151 | |||||
| 1,279 |
Highwoods Properties, Inc |
53,654 | ||||||
| 804 |
Home Properties, Inc |
51,424 | ||||||
| 2,009 |
Hospitality Properties Trust |
61,074 | ||||||
| 10,376 |
Host Marriott Corp |
228,376 | ||||||
| 532 |
* | Howard Hughes Corp |
83,966 | |||||
| 1,589 |
HRPT Properties Trust |
41,822 | ||||||
| 737 |
Hudson Pacific Properties |
18,676 | ||||||
| 1,113 |
Inland Real Estate Corp |
11,831 | ||||||
| 1,651 |
Invesco Mortgage Capital, Inc |
28,661 | ||||||
| 1,430 |
Investors Real Estate Trust |
13,170 | ||||||
| 1,138 |
* | iStar Financial, Inc |
17,047 | |||||
| 598 |
Jones Lang LaSalle, Inc |
75,581 | ||||||
| 963 |
Kennedy-Wilson Holdings, Inc |
25,828 | ||||||
| 1,156 |
Kilroy Realty Corp |
71,996 | ||||||
| 5,803 |
Kimco Realty Corp |
133,353 | ||||||
| 1,214 |
Kite Realty Group Trust |
7,454 | ||||||
| 1,396 |
LaSalle Hotel Properties |
49,265 | ||||||
| 2,758 |
Lexington Corporate Properties Trust |
30,366 | ||||||
| 1,981 |
Liberty Property Trust |
75,139 | ||||||
| 458 |
LTC Properties, Inc |
17,880 | ||||||
| 1,887 |
Macerich Co |
125,957 | ||||||
| 1,189 |
Mack-Cali Realty Corp |
25,540 | ||||||
| 2,313 |
Medical Properties Trust, Inc |
30,624 | ||||||
| 4,918 |
MFA Mortgage Investments, Inc |
40,377 | ||||||
| 1,004 |
Mid-America Apartment Communities, Inc |
73,342 | ||||||
| 750 |
Monmouth Real Estate Investment Corp (Class A) |
7,530 | ||||||
| 443 |
National Health Investors, Inc |
27,714 | ||||||
| 1,628 |
National Retail Properties, Inc |
60,545 | ||||||
| 3,838 |
New Residential Investment Corp |
24,179 | ||||||
| 1,065 |
New York Mortgage Trust, Inc |
8,318 | ||||||
| 374 |
* | New York REIT, Inc |
4,136 | |||||
| 4,910 |
NorthStar Realty Finance Corp |
85,336 | ||||||
| 1,715 |
Omega Healthcare Investors, Inc |
63,215 | ||||||
| 251 |
One Liberty Properties, Inc |
5,356 | ||||||
| 955 |
Parkway Properties, Inc |
19,721 | ||||||
| 843 |
Pebblebrook Hotel Trust |
31,157 | ||||||
| 892 |
Pennsylvania REIT |
16,787 | ||||||
| 1,022 |
Pennymac Mortgage Investment Trust |
22,423 | ||||||
| 2,149 |
Piedmont Office Realty Trust, Inc |
40,702 | ||||||
| 2,504 |
Plum Creek Timber Co, Inc |
112,930 | ||||||
| 745 |
Post Properties, Inc |
39,828 | ||||||
| 545 |
Potlatch Corp |
22,563 | ||||||
| 6,920 |
Prologis, Inc |
284,343 | ||||||
| 261 |
PS Business Parks, Inc |
21,791 | ||||||
| 1,933 |
Public Storage, Inc |
331,220 | ||||||
| 1,095 |
RAIT Investment Trust |
9,056 | ||||||
| 917 |
Ramco-Gershenson Properties |
15,241 | ||||||
| 1,780 |
Rayonier, Inc |
63,279 | ||||||
| 143 |
Re/Max Holdings, Inc |
4,231 | ||||||
| 1,960 |
* | Realogy Holdings Corp |
73,912 | |||||
| 3,064 |
Realty Income Corp |
136,103 | ||||||
| 1,075 |
Redwood Trust, Inc |
20,930 | ||||||
| 1,287 |
Regency Centers Corp |
71,660 | ||||||
| 1,691 |
Resource Capital Corp |
9,520 | ||||||
| 1,005 |
Retail Opportunities Investment Corp |
15,809 | ||||||
| 3,173 |
Retail Properties of America, Inc |
48,801 | ||||||
| 1,756 |
RLJ Lodging Trust |
50,731 | ||||||
| 262 |
Rouse Properties, Inc |
4,483 | ||||||
| 580 |
Ryman Hospitality Properties |
27,927 | ||||||
| 634 |
Sabra Healthcare REIT, Inc |
18,202 | ||||||
| 133 |
Saul Centers, Inc |
6,464 | ||||||
| 494 |
Select Income REIT |
14,642 | ||||||
| 2,733 |
Senior Housing Properties Trust |
66,385 | ||||||
| 516 |
Silver Bay Realty Trust Corp |
8,421 | ||||||
| 4,094 |
Simon Property Group, Inc |
680,750 | ||||||
69
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,298 |
SL Green Realty Corp |
$ | 142,014 | |||||
| 442 |
Sovran Self Storage, Inc |
34,144 | ||||||
| 5,445 |
Spirit Realty Capital, Inc |
61,855 | ||||||
| 810 |
*,e | St. Joe Co |
20,598 | |||||
| 696 |
STAG Industrial, Inc |
16,711 | ||||||
| 2,671 |
Starwood Property Trust, Inc |
63,490 | ||||||
| 534 |
* | Starwood Waypoint Residential Trust |
13,996 | |||||
| 3,277 |
* | Strategic Hotels & Resorts, Inc |
38,374 | |||||
| 1,404 |
Summit Hotel Properties, Inc |
14,882 | ||||||
| 550 |
Sun Communities, Inc |
27,412 | ||||||
| 2,460 |
Sunstone Hotel Investors, Inc |
36,728 | ||||||
| 1,271 |
Tanger Factory Outlet Centers, Inc |
44,447 | ||||||
| 841 |
Taubman Centers, Inc |
63,756 | ||||||
| 156 |
* | Tejon Ranch Co |
5,022 | |||||
| 444 |
Terreno Realty Corp |
8,583 | ||||||
| 4,910 |
Two Harbors Investment Corp |
51,457 | ||||||
| 3,535 |
UDR, Inc |
101,207 | ||||||
| 258 |
UMH Properties, Inc |
2,588 | ||||||
| 163 |
Universal Health Realty Income Trust |
7,087 | ||||||
| 335 |
Urstadt Biddle Properties, Inc (Class A) |
6,995 | ||||||
| 3,948 |
Ventas, Inc |
253,067 | ||||||
| 2,584 |
Vornado Realty Trust |
275,790 | ||||||
| 2,147 |
* | Washington Prime Group, Inc |
40,235 | |||||
| 894 |
Washington REIT |
23,226 | ||||||
| 1,639 |
Weingarten Realty Investors |
53,825 | ||||||
| 351 |
Western Asset Mortgage Capital Corp |
4,974 | ||||||
| 8,018 |
Weyerhaeuser Co |
265,316 | ||||||
| 550 |
Whitestone REIT |
8,200 | ||||||
| 242 |
Winthrop Realty Trust |
3,715 | ||||||
| 1,333 |
WP Carey, Inc |
85,845 | ||||||
|
|
|
|||||||
| TOTAL REAL ESTATE |
10,934,664 | |||||||
|
|
|
|||||||
| RETAILING - 4.1% |
||||||||
| 752 |
* | 1-800-FLOWERS.COM, Inc (Class A) |
4,362 | |||||
| 998 |
Aaron’s, Inc |
35,569 | ||||||
| 976 |
e | Abercrombie & Fitch Co (Class A) |
42,212 | |||||
| 985 |
Advance Auto Parts, Inc |
132,896 | ||||||
| 1,061 |
*,e | Aeropostale, Inc |
3,703 | |||||
| 5,040 |
* | Amazon.com, Inc |
1,636,892 | |||||
| 2,498 |
e | American Eagle Outfitters, Inc |
28,028 | |||||
| 122 |
*,e | America’s Car-Mart, Inc |
4,825 | |||||
| 627 |
* | Ann Taylor Stores Corp |
25,795 | |||||
| 411 |
* | Asbury Automotive Group, Inc |
28,252 | |||||
| 1,725 |
* | Ascena Retail Group, Inc |
29,498 | |||||
| 286 |
* | Audiovox Corp (Class A) |
2,691 | |||||
| 976 |
* | Autonation, Inc |
58,248 | |||||
| 449 |
* | AutoZone, Inc |
240,772 | |||||
| 550 |
* | Barnes & Noble, Inc |
12,535 | |||||
| 380 |
Bebe Stores, Inc |
1,159 | ||||||
| 2,756 |
* | Bed Bath & Beyond, Inc |
158,139 | |||||
| 3,852 |
Best Buy Co, Inc |
119,451 | ||||||
| 334 |
Big 5 Sporting Goods Corp |
4,098 | ||||||
| 766 |
* | Big Lots, Inc |
35,006 | |||||
| 158 |
* | Blue Nile, Inc |
4,424 | |||||
| 196 |
e | Bon-Ton Stores, Inc |
2,021 | |||||
| 657 |
Brown Shoe Co, Inc |
18,797 | ||||||
| 378 |
e | Buckle, Inc |
16,768 | |||||
| 165 |
* | Build-A-Bear Workshop, Inc |
2,204 | |||||
| 384 |
* | Burlington Stores, Inc |
12,234 | |||||
| 671 |
* | Cabela’s, Inc |
41,870 | |||||
| 3,028 |
* | Carmax, Inc |
157,486 | |||||
| 368 |
Cato Corp (Class A) |
11,371 | ||||||
| 2,056 |
Chico’s FAS, Inc |
34,870 | ||||||
| 236 |
Children’s Place Retail Stores, Inc |
11,713 | ||||||
| 469 |
* | Christopher & Banks Corp |
4,108 | |||||
70
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 243 |
* | Citi Trends, Inc |
$ | 5,215 | ||||
| 372 |
*,e | Conn’s, Inc |
18,373 | |||||
| 231 |
*,e | Container Store Group, Inc |
6,417 | |||||
| 340 |
Core-Mark Holding Co, Inc |
15,514 | ||||||
| 162 |
* | Coupons.com, Inc |
4,262 | |||||
| 1,014 |
CST Brands, Inc |
34,983 | ||||||
| 184 |
Destination Maternity Corp |
4,190 | ||||||
| 514 |
*,e | Destination XL Group, Inc |
2,832 | |||||
| 1,304 |
Dick’s Sporting Goods, Inc |
60,714 | ||||||
| 343 |
Dillard’s, Inc (Class A) |
39,997 | ||||||
| 4,200 |
* | Dollar General Corp |
240,912 | |||||
| 2,813 |
* | Dollar Tree, Inc |
153,196 | |||||
| 930 |
DSW, Inc (Class A) |
25,984 | ||||||
| 1,401 |
Expedia, Inc |
110,343 | ||||||
| 1,135 |
* | Express Parent LLC |
19,329 | |||||
| 1,283 |
Family Dollar Stores, Inc |
84,858 | ||||||
| 647 |
Finish Line, Inc (Class A) |
19,242 | ||||||
| 728 |
*,e | Five Below, Inc |
29,054 | |||||
| 1,926 |
Foot Locker, Inc |
97,687 | ||||||
| 580 |
*,e | Francesca’s Holdings Corp |
8,549 | |||||
| 480 |
Fred’s, Inc (Class A) |
7,339 | ||||||
| 254 |
* | FTD Cos, Inc |
8,075 | |||||
| 201 |
* | Gaiam, Inc (Class A) |
1,544 | |||||
| 1,560 |
e | GameStop Corp (Class A) |
63,133 | |||||
| 3,550 |
Gap, Inc |
147,574 | ||||||
| 311 |
* | Genesco, Inc |
25,542 | |||||
| 2,061 |
Genuine Parts Co |
180,956 | ||||||
| 1,273 |
GNC Holdings, Inc |
43,409 | ||||||
| 325 |
Group 1 Automotive, Inc |
27,401 | ||||||
| 6,454 |
*,e | Groupon, Inc |
42,725 | |||||
| 822 |
Guess?, Inc |
22,194 | ||||||
| 270 |
Haverty Furniture Cos, Inc |
6,785 | ||||||
| 176 |
*,e | HHgregg, Inc |
1,790 | |||||
| 335 |
*,e | Hibbett Sports, Inc |
18,147 | |||||
| 18,346 |
Home Depot, Inc |
1,485,292 | ||||||
| 1,254 |
* | HomeAway, Inc |
43,664 | |||||
| 475 |
HSN, Inc |
28,139 | ||||||
| 3,967 |
*,e | JC Penney Co, Inc |
35,901 | |||||
| 145 |
* | Kirkland’s, Inc |
2,690 | |||||
| 2,704 |
Kohl’s Corp |
142,447 | ||||||
| 3,261 |
L Brands, Inc |
191,290 | ||||||
| 221 |
* | Lands’ End, Inc |
7,421 | |||||
| 6,725 |
* | Liberty Interactive Corp |
197,446 | |||||
| 980 |
* | Liberty Ventures |
72,324 | |||||
| 303 |
Lithia Motors, Inc (Class A) |
28,503 | ||||||
| 4,049 |
* | LKQ Corp |
108,068 | |||||
| 13,576 |
Lowe’s Companies, Inc |
651,512 | ||||||
| 368 |
*,e | Lumber Liquidators, Inc |
27,950 | |||||
| 4,802 |
Macy’s, Inc |
278,612 | ||||||
| 333 |
* | MarineMax, Inc |
5,574 | |||||
| 209 |
*,e | Mattress Firm Holding Corp |
9,980 | |||||
| 661 |
Men’s Wearhouse, Inc |
36,884 | ||||||
| 412 |
Monro Muffler, Inc |
21,914 | ||||||
| 630 |
* | Murphy USA, Inc |
30,801 | |||||
| 804 |
* | NetFlix, Inc |
354,242 | |||||
| 512 |
* | New York & Co, Inc |
1,889 | |||||
| 1,860 |
Nordstrom, Inc |
126,350 | ||||||
| 414 |
Nutri/System, Inc |
7,084 | ||||||
| 7,173 |
* | Office Depot, Inc |
40,814 | |||||
| 692 |
* | Orbitz Worldwide, Inc |
6,159 | |||||
| 1,484 |
* | O’Reilly Automotive, Inc |
223,490 | |||||
| 275 |
*,e | Outerwall, Inc |
16,321 | |||||
| 176 |
* | Overstock.com, Inc |
2,776 | |||||
| 667 |
* | Pacific Sunwear Of California, Inc |
1,587 | |||||
| 627 |
Penske Auto Group, Inc |
31,037 | ||||||
| 614 |
* | PEP Boys - Manny Moe & Jack |
7,036 | |||||
71
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 278 |
e | PetMed Express, Inc |
$ | 3,747 | ||||
| 1,403 |
e | Petsmart, Inc |
83,899 | |||||
| 1,228 |
Pier 1 Imports, Inc |
18,923 | ||||||
| 692 |
* | Priceline.com, Inc |
832,476 | |||||
| 1,485 |
*,e | RadioShack Corp |
1,472 | |||||
| 793 |
Rent-A-Center, Inc |
22,743 | ||||||
| 418 |
* | Restoration Hardware Holdings, Inc |
38,895 | |||||
| 413 |
*,e | RetailMeNot, Inc |
10,990 | |||||
| 2,849 |
Ross Stores, Inc |
188,404 | ||||||
| 2,169 |
* | Sally Beauty Holdings, Inc |
54,399 | |||||
| 358 |
*,e | Sears Holdings Corp |
14,306 | |||||
| 159 |
* | Sears Hometown and Outlet Stores, Inc |
3,414 | |||||
| 748 |
* | Select Comfort Corp |
15,454 | |||||
| 203 |
Shoe Carnival, Inc |
4,192 | ||||||
| 497 |
* | Shutterfly, Inc |
21,401 | |||||
| 1,093 |
Signet Jewelers Ltd |
120,875 | ||||||
| 481 |
Sonic Automotive, Inc (Class A) |
12,833 | ||||||
| 131 |
* | Sportsman’s Warehouse Holdings, Inc |
1,048 | |||||
| 411 |
Stage Stores, Inc |
7,682 | ||||||
| 8,900 |
Staples, Inc |
96,476 | ||||||
| 372 |
Stein Mart, Inc |
5,167 | ||||||
| 151 |
* | Systemax, Inc |
2,170 | |||||
| 8,501 |
Target Corp |
492,633 | ||||||
| 1,513 |
Tiffany & Co |
151,678 | ||||||
| 376 |
*,e | Tile Shop Holdings, Inc |
5,749 | |||||
| 120 |
* | Tilly’s, Inc |
965 | |||||
| 9,395 |
TJX Companies, Inc |
499,344 | ||||||
| 1,858 |
Tractor Supply Co |
112,223 | ||||||
| 1,514 |
* | TripAdvisor, Inc |
164,511 | |||||
| 567 |
* | Tuesday Morning Corp |
10,104 | |||||
| 864 |
* | Ulta Salon Cosmetics & Fragrance, Inc |
78,978 | |||||
| 1,435 |
* | Urban Outfitters, Inc |
48,589 | |||||
| 512 |
* | Valuevision International, Inc (Class A) |
2,555 | |||||
| 280 |
* | Vitacost.com, Inc |
1,753 | |||||
| 425 |
* | Vitamin Shoppe, Inc |
18,284 | |||||
| 178 |
* | West Marine, Inc |
1,826 | |||||
| 1,045 |
*,e | Wet Seal, Inc (Class A) |
951 | |||||
| 524 |
* | WEX, Inc |
55,004 | |||||
| 1,263 |
Williams-Sonoma, Inc |
90,658 | ||||||
| 32 |
Winmark Corp |
2,228 | ||||||
| 181 |
*,e | zulily, Inc |
7,412 | |||||
| 245 |
* | Zumiez, Inc |
6,760 | |||||
|
|
|
|||||||
| TOTAL RETAILING |
12,038,630 | |||||||
|
|
|
|||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.4% |
||||||||
| 504 |
* | Advanced Energy Industries, Inc |
9,702 | |||||
| 8,188 |
*,e | Advanced Micro Devices, Inc |
34,308 | |||||
| 183 |
* | Alpha & Omega Semiconductor Ltd |
1,696 | |||||
| 4,196 |
Altera Corp |
145,853 | ||||||
| 386 |
*,e | Ambarella, Inc |
12,035 | |||||
| 1,245 |
* | Amkor Technology, Inc |
13,919 | |||||
| 891 |
*,e | Anadigics, Inc |
721 | |||||
| 4,214 |
Analog Devices, Inc |
227,851 | ||||||
| 15,563 |
Applied Materials, Inc |
350,946 | ||||||
| 1,046 |
* | Applied Micro Circuits Corp |
11,307 | |||||
| 5,710 |
* | Atmel Corp |
53,503 | |||||
| 188 |
* | Audience, Inc |
2,248 | |||||
| 3,428 |
Avago Technologies Ltd |
247,056 | ||||||
| 2,300 |
* | Axcelis Technologies, Inc |
4,600 | |||||
| 7,176 |
Broadcom Corp (Class A) |
266,373 | ||||||
| 831 |
Brooks Automation, Inc |
8,950 | ||||||
| 324 |
* | Cabot Microelectronics Corp |
14,467 | |||||
| 171 |
* | Cascade Microtech, Inc |
2,336 | |||||
| 709 |
* | Cavium Networks, Inc |
35,209 | |||||
| 234 |
* | Ceva, Inc |
3,456 | |||||
72
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 821 |
*,e | Cirrus Logic, Inc |
$ | 18,670 | ||||
| 280 |
Cohu, Inc |
2,996 | ||||||
| 1,636 |
*,e | Cree, Inc |
81,718 | |||||
| 2,072 |
e | Cypress Semiconductor Corp |
22,606 | |||||
| 489 |
* | Diodes, Inc |
14,161 | |||||
| 289 |
* | DSP Group, Inc |
2,454 | |||||
| 1,867 |
* | Entegris, Inc |
25,662 | |||||
| 903 |
* | Entropic Communications, Inc |
3,007 | |||||
| 520 |
* | Exar Corp |
5,876 | |||||
| 1,676 |
* | Fairchild Semiconductor International, Inc |
26,146 | |||||
| 1,005 |
* | First Solar, Inc |
71,415 | |||||
| 593 |
* | Formfactor, Inc |
4,934 | |||||
| 1,411 |
* | Freescale Semiconductor Holdings Ltd |
33,158 | |||||
| 234 |
*,e | GSI Technology, Inc |
1,395 | |||||
| 1,815 |
*,e | GT Solar International, Inc |
33,759 | |||||
| 459 |
Hittite Microwave Corp |
35,779 | ||||||
| 420 |
* | Inphi Corp |
6,166 | |||||
| 1,945 |
* | Integrated Device Technology, Inc |
30,070 | |||||
| 405 |
* | Integrated Silicon Solution, Inc |
5,982 | |||||
| 67,043 |
Intel Corp |
2,071,629 | ||||||
| 956 |
* | International Rectifier Corp |
26,672 | |||||
| 1,727 |
Intersil Corp (Class A) |
25,819 | ||||||
| 257 |
IXYS Corp |
3,166 | ||||||
| 2,306 |
Kla-Tencor Corp |
167,508 | ||||||
| 800 |
* | Kopin Corp |
2,608 | |||||
| 2,175 |
Lam Research Corp |
146,986 | ||||||
| 1,579 |
* | Lattice Semiconductor Corp |
13,027 | |||||
| 3,340 |
Linear Technology Corp |
157,214 | ||||||
| 161 |
* | MA-COM Technology Solutions |
3,619 | |||||
| 5,232 |
Marvell Technology Group Ltd |
74,975 | ||||||
| 4,037 |
Maxim Integrated Products, Inc |
136,491 | ||||||
| 374 |
* | MaxLinear, Inc |
3,766 | |||||
| 598 |
Micrel, Inc |
6,745 | ||||||
| 2,750 |
e | Microchip Technology, Inc |
134,228 | |||||
| 14,359 |
* | Micron Technology, Inc |
473,129 | |||||
| 1,274 |
* | Microsemi Corp |
34,092 | |||||
| 698 |
MKS Instruments, Inc |
21,806 | ||||||
| 598 |
Monolithic Power Systems, Inc |
25,325 | ||||||
| 316 |
*,e | MoSys, Inc |
992 | |||||
| 321 |
* | Nanometrics, Inc |
5,858 | |||||
| 55 |
* | NVE Corp |
3,057 | |||||
| 7,007 |
Nvidia Corp |
129,910 | ||||||
| 721 |
* | Omnivision Technologies, Inc |
15,848 | |||||
| 5,916 |
* | ON Semiconductor Corp |
54,072 | |||||
| 409 |
* | PDF Solutions, Inc |
8,679 | |||||
| 347 |
* | Peregrine Semiconductor Corp |
2,380 | |||||
| 304 |
* | Pericom Semiconductor Corp |
2,748 | |||||
| 666 |
* | Photronics, Inc |
5,728 | |||||
| 410 |
* | PLX Technology, Inc |
2,653 | |||||
| 2,326 |
* | PMC - Sierra, Inc |
17,701 | |||||
| 408 |
Power Integrations, Inc |
23,476 | ||||||
| 740 |
* | QuickLogic Corp |
3,826 | |||||
| 1,317 |
* | Rambus, Inc |
18,833 | |||||
| 3,839 |
* | RF Micro Devices, Inc |
36,816 | |||||
| 351 |
*,e | Rubicon Technology, Inc |
3,071 | |||||
| 351 |
* | Rudolph Technologies, Inc |
3,468 | |||||
| 936 |
* | Semtech Corp |
24,476 | |||||
| 1,131 |
* | Silicon Image, Inc |
5,700 | |||||
| 618 |
* | Silicon Laboratories, Inc |
30,437 | |||||
| 2,606 |
Skyworks Solutions, Inc |
122,378 | ||||||
| 622 |
* | Spansion, Inc |
13,106 | |||||
| 3,604 |
* | SunEdison, Inc |
81,450 | |||||
| 589 |
*,e | SunPower Corp |
24,137 | |||||
| 2,565 |
e | Teradyne, Inc |
50,274 | |||||
| 717 |
Tessera Technologies, Inc |
15,831 | ||||||
| 14,479 |
Texas Instruments, Inc |
691,951 | ||||||
73
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 2,298 |
* | Triquint Semiconductor, Inc |
$ | 36,331 | ||||
| 395 |
* | Ultra Clean Holdings |
3,575 | |||||
| 367 |
* | Ultratech, Inc |
8,140 | |||||
| 512 |
* | Veeco Instruments, Inc |
19,077 | |||||
| 646 |
* | Vitesse Semiconductor Corp |
2,229 | |||||
| 584 |
* | Xcerra Corp |
5,314 | |||||
| 3,599 |
Xilinx, Inc |
170,269 | ||||||
|
|
|
|||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
7,045,086 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 10.0% |
||||||||
| 171 |
* | A10 Networks, Inc |
2,274 | |||||
| 8,486 |
Accenture plc |
686,008 | ||||||
| 503 |
* | ACI Worldwide, Inc |
28,082 | |||||
| 6,646 |
Activision Blizzard, Inc |
148,206 | ||||||
| 620 |
* | Actuate Corp |
2,957 | |||||
| 1,008 |
* | Acxiom Corp |
21,864 | |||||
| 6,730 |
* | Adobe Systems, Inc |
486,983 | |||||
| 646 |
Advent Software, Inc |
21,040 | ||||||
| 128 |
* | Aerohive Networks, Inc |
1,052 | |||||
| 2,445 |
* | Akamai Technologies, Inc |
149,292 | |||||
| 725 |
* | Alliance Data Systems Corp |
203,906 | |||||
| 120 |
* | Amber Road, Inc |
1,936 | |||||
| 2,210 |
Amdocs Ltd |
102,389 | ||||||
| 276 |
American Software, Inc (Class A) |
2,727 | ||||||
| 555 |
*,e | Angie’s List, Inc |
6,627 | |||||
| 1,264 |
* | Ansys, Inc |
95,836 | |||||
| 1,104 |
* | AOL, Inc |
43,928 | |||||
| 1,235 |
* | Aspen Technology, Inc |
57,304 | |||||
| 3,072 |
* | Autodesk, Inc |
173,199 | |||||
| 6,668 |
Automatic Data Processing, Inc |
528,639 | ||||||
| 454 |
* | AVG Technologies NV |
9,139 | |||||
| 899 |
* | Bankrate, Inc |
15,768 | |||||
| 106 |
* | Barracuda Networks, Inc |
3,288 | |||||
| 636 |
*,e | Bazaarvoice, Inc |
5,018 | |||||
| 66 |
* | Benefitfocus, Inc |
3,051 | |||||
| 619 |
Blackbaud, Inc |
22,123 | ||||||
| 689 |
*,e | Blackhawk Network Holdings, Inc |
19,444 | |||||
| 540 |
* | Blucora, Inc |
10,190 | |||||
| 942 |
Booz Allen Hamilton Holding Co |
20,008 | ||||||
| 80 |
* | Borderfree, Inc |
1,326 | |||||
| 528 |
* | Bottomline Technologies, Inc |
15,798 | |||||
| 357 |
* | Brightcove, Inc |
3,763 | |||||
| 1,619 |
Broadridge Financial Solutions, Inc |
67,415 | ||||||
| 383 |
* | BroadSoft, Inc |
10,107 | |||||
| 4,373 |
CA, Inc |
125,680 | ||||||
| 315 |
* | CACI International, Inc (Class A) |
22,116 | |||||
| 3,884 |
* | Cadence Design Systems, Inc |
67,931 | |||||
| 617 |
* | Callidus Software, Inc |
7,367 | |||||
| 238 |
* | Carbonite, Inc |
2,849 | |||||
| 574 |
* | Cardtronics, Inc |
19,562 | |||||
| 88 |
* | Care.com, Inc |
1,114 | |||||
| 155 |
Cass Information Systems, Inc |
7,669 | ||||||
| 278 |
* | ChannelAdvisor Corp |
7,328 | |||||
| 1,042 |
* | Ciber, Inc |
5,147 | |||||
| 952 |
* | Cinedigm Corp |
2,370 | |||||
| 2,217 |
* | Citrix Systems, Inc |
138,673 | |||||
| 8,162 |
* | Cognizant Technology Solutions Corp (Class A) |
399,203 | |||||
| 633 |
* | Commvault Systems, Inc |
31,125 | |||||
| 1,943 |
Computer Sciences Corp |
122,798 | ||||||
| 174 |
Computer Task Group, Inc |
2,864 | ||||||
| 2,948 |
Compuware Corp |
29,451 | ||||||
| 465 |
* | comScore, Inc |
16,498 | |||||
| 276 |
* | Comverse, Inc |
7,364 | |||||
| 640 |
*,e | Concur Technologies, Inc |
59,738 | |||||
| 418 |
* | Constant Contact, Inc |
13,422 | |||||
74
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,361 |
Convergys Corp |
$ | 29,180 | |||||
| 899 |
*,e | Conversant, Inc |
22,835 | |||||
| 713 |
* | Cornerstone OnDemand, Inc |
32,812 | |||||
| 386 |
* | CoStar Group, Inc |
61,054 | |||||
| 485 |
CSG Systems International, Inc |
12,663 | ||||||
| 241 |
* | Cvent, Inc |
7,011 | |||||
| 185 |
* | Datalink Corp |
1,850 | |||||
| 715 |
* | DealerTrack Holdings, Inc |
32,418 | |||||
| 379 |
* | Demand Media, Inc |
1,827 | |||||
| 403 |
* | Demandware, Inc |
27,956 | |||||
| 606 |
* | Dice Holdings, Inc |
4,612 | |||||
| 453 |
* | Digital River, Inc |
6,990 | |||||
| 85 |
DMRC Corp |
2,771 | ||||||
| 406 |
DST Systems, Inc |
37,421 | ||||||
| 311 |
*,e | E2open, Inc |
6,428 | |||||
| 1,405 |
EarthLink Holdings Corp |
5,227 | ||||||
| 17,001 |
* | eBay, Inc |
851,070 | |||||
| 405 |
Ebix, Inc |
5,796 | ||||||
| 4,219 |
* | Electronic Arts, Inc |
151,336 | |||||
| 372 |
*,e | Ellie Mae, Inc |
11,580 | |||||
| 500 |
*,e | Endurance International Group Holdings, Inc |
7,645 | |||||
| 236 |
* | EnerNOC, Inc |
4,472 | |||||
| 457 |
* | Envestnet, Inc |
22,356 | |||||
| 468 |
* | EPAM Systems, Inc |
20,475 | |||||
| 405 |
EPIQ Systems, Inc |
5,690 | ||||||
| 51 |
*,e | ePlus, Inc |
2,968 | |||||
| 674 |
* | Equinix, Inc |
141,601 | |||||
| 677 |
* | Euronet Worldwide, Inc |
32,658 | |||||
| 881 |
EVERTEC, Inc |
21,355 | ||||||
| 101 |
* | Everyday Health, Inc |
1,866 | |||||
| 430 |
* | ExlService Holdings, Inc |
12,663 | |||||
| 26,429 |
* | Facebook, Inc |
1,778,407 | |||||
| 577 |
e | Factset Research Systems, Inc |
69,402 | |||||
| 460 |
Fair Isaac Corp |
29,330 | ||||||
| 3,861 |
Fidelity National Information Services, Inc |
211,351 | ||||||
| 1,150 |
*,e | FireEye, Inc |
46,632 | |||||
| 1,232 |
* | First American Corp |
37,404 | |||||
| 3,360 |
* | Fiserv, Inc |
202,675 | |||||
| 164 |
* | Five9, Inc |
1,181 | |||||
| 1,113 |
* | FleetCor Technologies, Inc |
146,693 | |||||
| 501 |
*,e | FleetMatics Group plc |
16,202 | |||||
| 178 |
Forrester Research, Inc |
6,743 | ||||||
| 1,839 |
* | Fortinet, Inc |
46,214 | |||||
| 1,221 |
* | Gartner, Inc |
86,105 | |||||
| 2,209 |
* | Genpact Ltd |
38,724 | |||||
| 324 |
* | Gigamon, Inc |
6,201 | |||||
| 824 |
* | Global Cash Access, Inc |
7,334 | |||||
| 512 |
* | Global Eagle Entertainment, Inc |
6,349 | |||||
| 1,011 |
Global Payments, Inc |
73,651 | ||||||
| 1,206 |
*,e | Glu Mobile, Inc |
6,030 | |||||
| 750 |
* | Gogo, Inc |
14,670 | |||||
| 3,810 |
* | Google, Inc |
2,191,817 | |||||
| 3,765 |
* | Google, Inc (Class A) |
2,201,283 | |||||
| 120 |
* | GrubHub, Inc |
4,249 | |||||
| 239 |
* | Guidance Software, Inc |
2,180 | |||||
| 911 |
* | Guidewire Software, Inc |
37,041 | |||||
| 476 |
Hackett Group, Inc |
2,842 | ||||||
| 451 |
e | Heartland Payment Systems, Inc |
18,586 | |||||
| 384 |
* | Higher One Holdings, Inc |
1,463 | |||||
| 1,028 |
IAC/InterActiveCorp |
71,168 | ||||||
| 454 |
* | iGate Corp |
16,521 | |||||
| 266 |
* | Imperva, Inc |
6,964 | |||||
| 655 |
* | Infoblox, Inc |
8,613 | |||||
| 1,473 |
* | Informatica Corp |
52,512 | |||||
| 426 |
* | Information Services Group, Inc |
2,049 | |||||
| 225 |
* | Interactive Intelligence, Inc |
12,629 | |||||
75
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 729 |
* | Internap Network Services Corp |
$ | 5,139 | ||||
| 12,690 |
International Business Machines Corp |
2,300,316 | ||||||
| 3,865 |
Intuit, Inc |
311,248 | ||||||
| 638 |
e | j2 Global, Inc |
32,449 | |||||
| 1,134 |
Jack Henry & Associates, Inc |
67,394 | ||||||
| 522 |
* | Jive Software, Inc |
4,442 | |||||
| 298 |
* | Knot, Inc |
3,642 | |||||
| 995 |
* | Kofax Ltd |
8,557 | |||||
| 861 |
Leidos Holdings, Inc |
33,011 | ||||||
| 884 |
* | Limelight Networks, Inc |
2,705 | |||||
| 1,399 |
* | LinkedIn Corp |
239,887 | |||||
| 704 |
* | Lionbridge Technologies |
4,182 | |||||
| 325 |
*,e | Liquidity Services, Inc |
5,122 | |||||
| 697 |
* | Liveperson, Inc |
7,075 | |||||
| 326 |
* | LogMeIn, Inc |
15,198 | |||||
| 105 |
* | Luxoft Holding, Inc |
3,786 | |||||
| 187 |
*,e | magicJack VocalTec Ltd |
2,827 | |||||
| 1,017 |
* | Manhattan Associates, Inc |
35,015 | |||||
| 292 |
Mantech International Corp (Class A) |
8,620 | ||||||
| 441 |
Marchex, Inc (Class B) |
5,301 | ||||||
| 353 |
* | Marin Software, Inc |
4,155 | |||||
| 344 |
* | Marketo, Inc |
10,004 | |||||
| 13,486 |
Mastercard, Inc (Class A) |
990,816 | ||||||
| 130 |
* | Mavenir Systems, Inc |
1,970 | |||||
| 908 |
MAXIMUS, Inc |
39,062 | ||||||
| 1,291 |
Mentor Graphics Corp |
27,847 | ||||||
| 1,011 |
* | Micros Systems, Inc |
68,647 | |||||
| 111,141 |
Microsoft Corp |
4,634,580 | ||||||
| 122 |
* | MicroStrategy, Inc (Class A) |
17,156 | |||||
| 461 |
*,e | Millennial Media, Inc |
2,300 | |||||
| 259 |
* | Model N, Inc |
2,862 | |||||
| 529 |
*,e | ModusLink Global Solutions, Inc |
1,978 | |||||
| 445 |
* | MoneyGram International, Inc |
6,555 | |||||
| 530 |
Monotype Imaging Holdings, Inc |
14,930 | ||||||
| 1,321 |
* | Monster Worldwide, Inc |
8,639 | |||||
| 620 |
* | Move, Inc |
9,170 | |||||
| 467 |
* | Netscout Systems, Inc |
20,707 | |||||
| 557 |
* | NetSuite, Inc |
48,392 | |||||
| 808 |
*,e | NeuStar, Inc (Class A) |
21,024 | |||||
| 990 |
NIC, Inc |
15,692 | ||||||
| 3,423 |
* | Nuance Communications, Inc |
64,250 | |||||
| 315 |
* | OpenTable, Inc |
32,634 | |||||
| 104 |
* | OPOWER, Inc |
1,960 | |||||
| 44,061 |
Oracle Corp |
1,785,792 | ||||||
| 2,755 |
* | Pandora Media, Inc |
81,273 | |||||
| 128 |
* | Park City Group, Inc |
1,394 | |||||
| 4,510 |
Paychex, Inc |
187,436 | ||||||
| 87 |
* | Paycom Software, Inc |
1,269 | |||||
| 476 |
Pegasystems, Inc |
10,053 | ||||||
| 464 |
* | Perficient, Inc |
9,034 | |||||
| 404 |
* | PRG-Schultz International, Inc |
2,582 | |||||
| 692 |
* | Progress Software Corp |
16,636 | |||||
| 484 |
* | Proofpoint, Inc |
18,131 | |||||
| 283 |
* | PROS Holdings, Inc |
7,483 | |||||
| 1,589 |
* | PTC, Inc |
61,653 | |||||
| 133 |
* | Q2 Holdings, Inc |
1,897 | |||||
| 43 |
QAD, Inc (Class A) |
917 | ||||||
| 1,203 |
* | QLIK Technologies, Inc |
27,212 | |||||
| 270 |
* | Qualys, Inc |
6,931 | |||||
| 335 |
* | QuinStreet, Inc |
1,846 | |||||
| 1,615 |
* | Rackspace Hosting, Inc |
54,361 | |||||
| 334 |
* | Rally Software Development Corp |
3,637 | |||||
| 299 |
* | RealNetworks, Inc |
2,281 | |||||
| 695 |
*,e | RealPage, Inc |
15,624 | |||||
| 2,563 |
* | Red Hat, Inc |
141,657 | |||||
76
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 111 |
Reis, Inc |
$ | 2,340 | |||||
| 246 |
* | Rocket Fuel, Inc |
7,648 | |||||
| 127 |
* | Rosetta Stone, Inc |
1,234 | |||||
| 1,271 |
* | Rovi Corp |
30,453 | |||||
| 106 |
* | Rubicon Project, Inc |
1,361 | |||||
| 576 |
* | Sabre Corp |
11,549 | |||||
| 8,237 |
* | Salesforce.com, Inc |
478,405 | |||||
| 329 |
* | Sapiens International Corp NV |
2,632 | |||||
| 1,557 |
* | Sapient Corp |
25,301 | |||||
| 547 |
Science Applications International Corp |
24,156 | ||||||
| 368 |
* | Sciquest, Inc |
6,510 | |||||
| 334 |
* | Seachange International, Inc |
2,675 | |||||
| 1,933 |
* | ServiceNow, Inc |
119,769 | |||||
| 918 |
*,e | ServiceSource International LLC |
5,324 | |||||
| 200 |
*,e | Shutterstock, Inc |
16,596 | |||||
| 470 |
* | Silver Spring Networks, Inc |
6,265 | |||||
| 860 |
* | SolarWinds, Inc |
33,248 | |||||
| 923 |
Solera Holdings, Inc |
61,979 | ||||||
| 150 |
*,e | Spark Networks, Inc |
851 | |||||
| 1,586 |
* | Splunk, Inc |
87,753 | |||||
| 235 |
* | SPS Commerce, Inc |
14,850 | |||||
| 901 |
* | SS&C Technologies Holdings, Inc |
39,842 | |||||
| 192 |
* | Stamps.com, Inc |
6,468 | |||||
| 513 |
* | SupportSoft, Inc |
1,390 | |||||
| 460 |
* | Sykes Enterprises, Inc |
9,996 | |||||
| 9,279 |
Symantec Corp |
212,489 | ||||||
| 472 |
* | Synchronoss Technologies, Inc |
16,501 | |||||
| 2,076 |
* | Synopsys, Inc |
80,590 | |||||
| 208 |
* | Syntel, Inc |
17,880 | |||||
| 527 |
* | TA Indigo Holding Corp |
4,685 | |||||
| 511 |
* | Tableau Software, Inc |
36,450 | |||||
| 1,302 |
* | Take-Two Interactive Software, Inc |
28,956 | |||||
| 519 |
* | Tangoe, Inc |
7,816 | |||||
| 222 |
* | TechTarget, Inc |
1,958 | |||||
| 646 |
* | TeleCommunication Systems, Inc (Class A) |
2,125 | |||||
| 205 |
* | TeleNav, Inc |
1,166 | |||||
| 235 |
* | TeleTech Holdings, Inc |
6,813 | |||||
| 2,123 |
* | Teradata Corp |
85,345 | |||||
| 250 |
* | Textura Corp |
5,910 | |||||
| 2,173 |
* | TIBCO Software, Inc |
43,829 | |||||
| 1,541 |
* | TiVo, Inc |
19,894 | |||||
| 2,249 |
Total System Services, Inc |
70,641 | ||||||
| 174 |
* | Travelzoo, Inc |
3,367 | |||||
| 476 |
* | Tremor Video, Inc |
2,247 | |||||
| 104 |
* | TrueCar, Inc |
1,537 | |||||
| 495 |
*,e | Trulia, Inc |
23,453 | |||||
| 6,427 |
* | Twitter, Inc |
263,314 | |||||
| 432 |
* | Tyler Technologies, Inc |
39,403 | |||||
| 380 |
* | Ultimate Software Group, Inc |
52,505 | |||||
| 686 |
* | Unisys Corp |
16,972 | |||||
| 150 |
United Online, Inc |
1,560 | ||||||
| 1,081 |
*,e | Unwired Planet, Inc |
2,411 | |||||
| 1,633 |
* | Vantiv, Inc |
54,901 | |||||
| 71 |
* | Varonis Systems, Inc |
2,060 | |||||
| 395 |
* | Vasco Data Security International |
4,582 | |||||
| 1,451 |
* | VeriFone Systems, Inc |
53,324 | |||||
| 691 |
* | Verint Systems, Inc |
33,894 | |||||
| 1,658 |
* | VeriSign, Inc |
80,927 | |||||
| 574 |
*,e | VirnetX Holding Corp |
10,108 | |||||
| 348 |
* | Virtusa Corp |
12,458 | |||||
| 6,727 |
Visa, Inc (Class A) |
1,417,446 | ||||||
| 447 |
*,e | VistaPrint Ltd |
18,086 | |||||
| 1,180 |
* | VMware, Inc (Class A) |
114,236 | |||||
| 852 |
*,e | Vringo, Inc |
2,914 | |||||
| 520 |
*,e | WebMD Health Corp (Class A) |
25,116 | |||||
| 695 |
* | Website Pros, Inc |
20,065 | |||||
77
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 7,501 |
e | Western Union Co |
$ | 130,067 | ||||
| 260 |
*,e | Wix.com Ltd |
5,158 | |||||
| 1,256 |
* | Workday, Inc |
112,864 | |||||
| 15,386 |
Xerox Corp |
191,402 | ||||||
| 415 |
* | Xoom Corp |
10,939 | |||||
| 12,810 |
* | Yahoo!, Inc |
450,015 | |||||
| 682 |
* | Yelp, Inc |
52,296 | |||||
| 243 |
* | YuMe, Inc |
1,434 | |||||
| 137 |
* | Zendesk, Inc |
2,381 | |||||
| 417 |
*,e | Zillow, Inc |
59,602 | |||||
| 743 |
* | Zix Corp |
2,541 | |||||
| 9,691 |
* | Zynga, Inc |
31,108 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
29,637,438 | |||||||
|
|
|
|||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 5.8% |
||||||||
| 1,475 |
*,e | 3D Systems Corp |
88,205 | |||||
| 217 |
*,e | Acorn Energy, Inc |
512 | |||||
| 806 |
Adtran, Inc |
18,183 | ||||||
| 400 |
* | Agilysys, Inc |
5,632 | |||||
| 211 |
e | Alliance Fiber Optic Products, Inc |
3,819 | |||||
| 2,108 |
Amphenol Corp (Class A) |
203,085 | ||||||
| 356 |
Anixter International, Inc |
35,625 | ||||||
| 80,886 |
Apple, Inc |
7,516,736 | ||||||
| 198 |
* | Applied Optoelectronics, Inc |
4,594 | |||||
| 1,687 |
* | ARRIS Group, Inc |
54,878 | |||||
| 1,337 |
* | Arrow Electronics, Inc |
80,768 | |||||
| 1,423 |
* | Aruba Networks, Inc |
24,931 | |||||
| 1,510 |
Avnet, Inc |
66,908 | ||||||
| 583 |
AVX Corp |
7,742 | ||||||
| 245 |
* | AX Holding Corp |
2,572 | |||||
| 194 |
Badger Meter, Inc |
10,214 | ||||||
| 100 |
Bel Fuse, Inc (Class B) |
2,567 | ||||||
| 585 |
Belden CDT, Inc |
45,724 | ||||||
| 750 |
* | Benchmark Electronics, Inc |
19,110 | |||||
| 226 |
Black Box Corp |
5,297 | ||||||
| 1,256 |
* | Bookham, Inc |
2,763 | |||||
| 5,865 |
Brocade Communications Systems, Inc |
53,958 | ||||||
| 482 |
* | CalAmp Corp |
10,440 | |||||
| 469 |
* | Calix Networks, Inc |
3,836 | |||||
| 1,003 |
CDW Corp |
31,976 | ||||||
| 500 |
* | Checkpoint Systems, Inc |
6,995 | |||||
| 1,409 |
*,e | Ciena Corp |
30,519 | |||||
| 68,740 |
Cisco Systems, Inc |
1,708,189 | ||||||
| 153 |
* | Clearfield, Inc |
2,569 | |||||
| 1,165 |
* | Cognex Corp |
44,736 | |||||
| 334 |
* | Coherent, Inc |
22,101 | |||||
| 836 |
* | CommScope Holding Co, Inc |
19,337 | |||||
| 206 |
Comtech Telecommunications Corp |
7,690 | ||||||
| 153 |
* | Control4 Corp |
2,993 | |||||
| 16,985 |
Corning, Inc |
372,821 | ||||||
| 518 |
* | Cray, Inc |
13,779 | |||||
| 409 |
CTS Corp |
7,648 | ||||||
| 277 |
* | CUI Global, Inc |
2,327 | |||||
| 423 |
Daktronics, Inc |
5,042 | ||||||
| 867 |
Diebold, Inc |
34,827 | ||||||
| 400 |
* | Digi International, Inc |
3,768 | |||||
| 701 |
*,e | Dolby Laboratories, Inc (Class A) |
30,283 | |||||
| 805 |
* | Dot Hill Systems Corp |
3,784 | |||||
| 196 |
* | DTS, Inc |
3,608 | |||||
| 237 |
* | Eastman Kodak Co |
5,799 | |||||
| 578 |
* | EchoStar Corp (Class A) |
30,599 | |||||
| 248 |
Electro Rent Corp |
4,149 | ||||||
| 300 |
Electro Scientific Industries, Inc |
2,043 | ||||||
| 630 |
* | Electronics for Imaging, Inc |
28,476 | |||||
| 27,464 |
EMC Corp |
723,402 | ||||||
78
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,000 |
* | Emulex Corp |
$ | 5,700 | ||||
| 1,016 |
* | Extreme Networks, Inc |
4,511 | |||||
| 1,016 |
* | F5 Networks, Inc |
113,223 | |||||
| 471 |
* | Fabrinet |
9,703 | |||||
| 215 |
* | FARO Technologies, Inc |
10,561 | |||||
| 574 |
FEI Co |
52,079 | ||||||
| 1,298 |
* | Finisar Corp |
25,636 | |||||
| 1,943 |
Flir Systems, Inc |
67,480 | ||||||
| 1,449 |
* | Fusion-io, Inc |
16,374 | |||||
| 407 |
* | GSI Group, Inc |
5,181 | |||||
| 1,150 |
* | Harmonic, Inc |
8,579 | |||||
| 1,483 |
Harris Corp |
112,337 | ||||||
| 670 |
* | Harris Stratex Networks, Inc (Class A) |
858 | |||||
| 25,422 |
Hewlett-Packard Co |
856,213 | ||||||
| 1,947 |
* | Hutchinson Technology, Inc |
4,868 | |||||
| 289 |
* | Immersion Corp |
3,676 | |||||
| 1,519 |
*,e | Infinera Corp |
13,975 | |||||
| 2,058 |
* | Ingram Micro, Inc (Class A) |
60,114 | |||||
| 620 |
* | Insight Enterprises, Inc |
19,059 | |||||
| 564 |
e | InterDigital, Inc |
26,959 | |||||
| 321 |
* | Intevac, Inc |
2,571 | |||||
| 953 |
*,e | InvenSense, Inc |
21,624 | |||||
| 446 |
*,e | IPG Photonics Corp |
30,685 | |||||
| 528 |
* | Itron, Inc |
21,410 | |||||
| 743 |
* | Ixia |
8,492 | |||||
| 2,660 |
Jabil Circuit, Inc |
55,594 | ||||||
| 3,054 |
* | JDS Uniphase Corp |
38,083 | |||||
| 6,355 |
* | Juniper Networks, Inc |
155,952 | |||||
| 779 |
* | Kemet Corp |
4,479 | |||||
| 1,122 |
* | Knowles Corp |
34,490 | |||||
| 172 |
* | KVH Industries, Inc |
2,241 | |||||
| 830 |
Lexmark International, Inc (Class A) |
39,973 | ||||||
| 302 |
Littelfuse, Inc |
28,071 | ||||||
| 402 |
* | Maxwell Technologies, Inc |
6,082 | |||||
| 187 |
* | Measurement Specialties, Inc |
16,095 | |||||
| 375 |
* | Mercury Computer Systems, Inc |
4,253 | |||||
| 30 |
Mesa Laboratories, Inc |
2,519 | ||||||
| 657 |
Methode Electronics, Inc |
25,104 | ||||||
| 3,012 |
Motorola, Inc |
200,509 | ||||||
| 221 |
MTS Systems Corp |
14,975 | ||||||
| 160 |
* | Multi-Fineline Electronix, Inc |
1,766 | |||||
| 1,374 |
National Instruments Corp |
44,504 | ||||||
| 2,252 |
* | NCR Corp |
79,023 | |||||
| 290 |
*,e | Neonode, Inc |
908 | |||||
| 4,444 |
NetApp, Inc |
162,295 | ||||||
| 454 |
* | Netgear, Inc |
15,786 | |||||
| 535 |
* | Newport Corp |
9,898 | |||||
| 124 |
* | Nimble Storage, Inc |
3,809 | |||||
| 196 |
* | Numerex Corp |
2,252 | |||||
| 252 |
* | Oplink Communications, Inc |
4,276 | |||||
| 268 |
* | OSI Systems, Inc |
17,889 | |||||
| 697 |
* | Palo Alto Networks, Inc |
58,443 | |||||
| 232 |
Park Electrochemical Corp |
6,545 | ||||||
| 935 |
*,e | Parkervision, Inc |
1,384 | |||||
| 196 |
PC Connection, Inc |
4,053 | ||||||
| 554 |
Plantronics, Inc |
26,620 | ||||||
| 511 |
* | Plexus Corp |
22,121 | |||||
| 2,014 |
* | Polycom, Inc |
25,235 | |||||
| 248 |
*,e | Procera Networks, Inc |
2,502 | |||||
| 1,170 |
* | QLogic Corp |
11,805 | |||||
| 22,872 |
Qualcomm, Inc |
1,811,462 | ||||||
| 4,721 |
*,e | Quantum Corp |
5,760 | |||||
| 187 |
* | Radisys Corp |
653 | |||||
| 485 |
* | RealD, Inc |
6,189 | |||||
| 181 |
Richardson Electronics Ltd |
1,895 | ||||||
| 2,138 |
* | Riverbed Technology, Inc |
44,107 | |||||
79
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 383 |
* | Rofin-Sinar Technologies, Inc |
$ | 9,207 | ||||
| 243 |
* | Rogers Corp |
16,123 | |||||
| 870 |
* | Ruckus Wireless, Inc |
10,362 | |||||
| 3,035 |
SanDisk Corp |
316,945 | ||||||
| 1,104 |
* | Sanmina Corp |
25,149 | |||||
| 321 |
* | Scansource, Inc |
12,224 | |||||
| 839 |
* | ShoreTel, Inc |
5,470 | |||||
| 435 |
*,e | Silicon Graphics International Corp |
4,185 | |||||
| 3,028 |
* | Sonus Networks, Inc |
10,871 | |||||
| 654 |
* | Speed Commerce, Inc |
2,446 | |||||
| 650 |
*,e | Stratasys Ltd |
73,859 | |||||
| 463 |
* | Super Micro Computer, Inc |
11,700 | |||||
| 453 |
* | Synaptics, Inc |
41,060 | |||||
| 382 |
* | SYNNEX Corp |
27,829 | |||||
| 512 |
* | Tech Data Corp |
32,010 | |||||
| 70 |
Tessco Technologies, Inc |
2,221 | ||||||
| 3,538 |
* | Trimble Navigation Ltd |
130,729 | |||||
| 726 |
* | TTM Technologies, Inc |
5,953 | |||||
| 399 |
*,e | Ubiquiti Networks, Inc |
18,031 | |||||
| 527 |
*,e | Universal Display Corp |
16,917 | |||||
| 555 |
* | Viasat, Inc |
32,168 | |||||
| 959 |
* | Violin Memory, Inc |
4,248 | |||||
| 1,815 |
Vishay Intertechnology, Inc |
28,114 | ||||||
| 161 |
* | Vishay Precision Group, Inc |
2,650 | |||||
| 662 |
* | Westell Technologies, Inc |
1,622 | |||||
| 2,954 |
Western Digital Corp |
272,654 | ||||||
| 677 |
* | Zebra Technologies Corp (Class A) |
55,731 | |||||
|
|
|
|||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
17,089,505 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 2.2% |
||||||||
| 1,188 |
* | 8x8, Inc |
9,599 | |||||
| 69,629 |
AT&T, Inc |
2,462,081 | ||||||
| 105 |
Atlantic Tele-Network, Inc |
6,090 | ||||||
| 201 |
* | Boingo Wireless, Inc |
1,373 | |||||
| 277 |
* | Cbeyond Communications, Inc |
2,756 | |||||
| 7,683 |
CenturyTel, Inc |
278,125 | ||||||
| 3,005 |
* | Cincinnati Bell, Inc |
11,810 | |||||
| 675 |
Cogent Communications Group, Inc |
23,321 | ||||||
| 859 |
Consolidated Communications Holdings, Inc |
19,104 | ||||||
| 170 |
Enventis Corp |
2,693 | ||||||
| 269 |
*,e | Fairpoint Communications, Inc |
3,758 | |||||
| 13,108 |
e | Frontier Communications Corp |
76,551 | |||||
| 464 |
* | General Communication, Inc (Class A) |
5,141 | |||||
| 3,603 |
* | Globalstar, Inc |
15,313 | |||||
| 126 |
*,e | Hawaiian Telcom Holdco, Inc |
3,605 | |||||
| 164 |
IDT Corp (Class B) |
2,857 | ||||||
| 814 |
* | inContact, Inc |
7,481 | |||||
| 391 |
Inteliquent, Inc |
5,423 | ||||||
| 367 |
* | Intelsat S.A. |
6,914 | |||||
| 1,082 |
*,e | Iridium Communications, Inc |
9,154 | |||||
| 2,188 |
* | Level 3 Communications, Inc |
96,075 | |||||
| 252 |
Lumos Networks Corp |
3,647 | ||||||
| 181 |
e | NTELOS Holdings Corp |
2,255 | |||||
| 597 |
* | Orbcomm, Inc |
3,934 | |||||
| 762 |
* | Premiere Global Services, Inc |
10,173 | |||||
| 372 |
* | RingCentral, Inc |
5,628 | |||||
| 1,798 |
* | SBA Communications Corp (Class A) |
183,935 | |||||
| 364 |
Shenandoah Telecom Co |
11,087 | ||||||
| 9,772 |
* | Sprint Corp |
83,355 | |||||
| 82 |
* | Straight Path Communications, Inc |
836 | |||||
| 1,155 |
Telephone & Data Systems, Inc |
30,157 | ||||||
| 3,562 |
T-Mobile US, Inc |
119,754 | ||||||
| 420 |
* | Towerstream Corp |
815 | |||||
| 1,990 |
* | tw telecom inc (Class A) |
80,217 | |||||
| 200 |
* | US Cellular Corp |
8,160 | |||||
80
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 250 |
USA Mobility, Inc |
$ | 3,850 | |||||
| 55,359 |
Verizon Communications, Inc |
2,708,716 | ||||||
| 2,337 |
* | Vonage Holdings Corp |
8,764 | |||||
| 8,085 |
e | Windstream Holdings, Inc |
80,527 | |||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
6,395,034 | |||||||
|
|
|
|||||||
| TRANSPORTATION - 2.3% |
||||||||
| 776 |
* | Air Transport Services Group, Inc |
6,495 | |||||
| 922 |
Alaska Air Group, Inc |
87,636 | ||||||
| 215 |
Allegiant Travel Co |
25,321 | ||||||
| 100 |
Amerco, Inc |
29,076 | ||||||
| 9,661 |
* | American Airlines Group, Inc |
415,037 | |||||
| 300 |
Arkansas Best Corp |
13,053 | ||||||
| 331 |
* | Atlas Air Worldwide Holdings, Inc |
12,197 | |||||
| 1,415 |
* | Avis Budget Group, Inc |
84,461 | |||||
| 574 |
Baltic Trading Ltd |
3,432 | ||||||
| 250 |
Celadon Group, Inc |
5,330 | ||||||
| 1,999 |
CH Robinson Worldwide, Inc |
127,516 | ||||||
| 765 |
Con-Way, Inc |
38,564 | ||||||
| 448 |
Copa Holdings S.A. (Class A) |
63,871 | ||||||
| 13,473 |
CSX Corp |
415,103 | ||||||
| 11,375 |
Delta Air Lines, Inc |
440,440 | ||||||
| 315 |
* | Echo Global Logistics, Inc |
6,039 | |||||
| 2,670 |
Expeditors International of Washington, Inc |
117,907 | ||||||
| 3,964 |
FedEx Corp |
600,070 | ||||||
| 419 |
Forward Air Corp |
20,049 | ||||||
| 687 |
* | Genesee & Wyoming, Inc (Class A) |
72,135 | |||||
| 633 |
*,e | Hawaiian Holdings, Inc |
8,678 | |||||
| 666 |
Heartland Express, Inc |
14,212 | ||||||
| 5,987 |
* | Hertz Global Holdings, Inc |
167,816 | |||||
| 500 |
* | Hub Group, Inc (Class A) |
25,200 | |||||
| 64 |
International Shipholding Corp |
1,467 | ||||||
| 1,240 |
J.B. Hunt Transport Services, Inc |
91,487 | ||||||
| 2,933 |
*,e | JetBlue Airways Corp |
31,823 | |||||
| 1,480 |
Kansas City Southern Industries, Inc |
159,115 | ||||||
| 734 |
* | Kirby Corp |
85,981 | |||||
| 691 |
Knight Transportation, Inc |
16,425 | ||||||
| 644 |
Landstar System, Inc |
41,216 | ||||||
| 319 |
Marten Transport Ltd |
7,130 | ||||||
| 519 |
Matson, Inc |
13,930 | ||||||
| 885 |
Navios Maritime Holdings, Inc |
8,956 | ||||||
| 4,179 |
Norfolk Southern Corp |
430,562 | ||||||
| 844 |
* | Old Dominion Freight Line |
53,746 | |||||
| 118 |
Park-Ohio Holdings Corp |
6,857 | ||||||
| 48 |
* | Patriot Transportation Holding, Inc |
1,679 | |||||
| 772 |
* | Quality Distribution, Inc |
11,472 | |||||
| 908 |
* | Republic Airways Holdings, Inc |
9,843 | |||||
| 313 |
* | Roadrunner Transportation Services Holdings, Inc |
8,795 | |||||
| 713 |
Ryder System, Inc |
62,808 | ||||||
| 522 |
Safe Bulkers, Inc |
5,095 | ||||||
| 331 |
* | Saia, Inc |
14,541 | |||||
| 1,731 |
* | Scorpio Bulkers, Inc |
15,406 | |||||
| 692 |
Skywest, Inc |
8,456 | ||||||
| 9,193 |
Southwest Airlines Co |
246,924 | ||||||
| 1,033 |
* | Spirit Airlines, Inc |
65,327 | |||||
| 1,055 |
* | Swift Transportation Co, Inc |
26,618 | |||||
| 5,010 |
* | UAL Corp |
205,761 | |||||
| 12,264 |
Union Pacific Corp |
1,223,334 | ||||||
| 9,495 |
United Parcel Service, Inc (Class B) |
974,757 | ||||||
| 68 |
Universal Truckload Services, Inc |
1,724 | ||||||
| 84 |
* | USA Truck, Inc |
1,562 | |||||
| 1,203 |
UTI Worldwide, Inc |
12,439 | ||||||
| 511 |
Werner Enterprises, Inc |
13,547 | ||||||
| 546 |
* | Wesco Aircraft Holdings, Inc |
10,898 | |||||
| 705 |
*,e | XPO Logistics, Inc |
20,177 | |||||
81
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 521 |
*,e | YRC Worldwide, Inc |
$ | 14,645 | ||||
|
|
|
|||||||
| TOTAL TRANSPORTATION |
6,704,141 | |||||||
|
|
|
|||||||
| UTILITIES - 3.2% |
||||||||
| 9,730 |
AES Corp |
151,301 | ||||||
| 1,600 |
AGL Resources, Inc |
88,048 | ||||||
| 597 |
Allete, Inc |
30,656 | ||||||
| 1,575 |
Alliant Energy Corp |
95,855 | ||||||
| 3,255 |
Ameren Corp |
133,064 | ||||||
| 6,294 |
American Electric Power Co, Inc |
351,016 | ||||||
| 520 |
American States Water Co |
17,280 | ||||||
| 2,376 |
American Water Works Co, Inc |
117,493 | ||||||
| 2,349 |
Aqua America, Inc |
61,591 | ||||||
| 77 |
Artesian Resources Corp |
1,731 | ||||||
| 1,866 |
e | Atlantic Power Corp |
7,651 | |||||
| 1,293 |
Atmos Energy Corp |
69,046 | ||||||
| 912 |
Avista Corp |
30,570 | ||||||
| 557 |
Black Hills Corp |
34,194 | ||||||
| 641 |
California Water Service Group |
15,512 | ||||||
| 5,680 |
* | Calpine Corp |
135,241 | |||||
| 5,553 |
Centerpoint Energy, Inc |
141,824 | ||||||
| 107 |
Chesapeake Utilities Corp |
7,632 | ||||||
| 937 |
Cleco Corp |
55,236 | ||||||
| 3,466 |
CMS Energy Corp |
107,966 | ||||||
| 146 |
Connecticut Water Service, Inc |
4,945 | ||||||
| 3,929 |
Consolidated Edison, Inc |
226,860 | ||||||
| 7,802 |
Dominion Resources, Inc |
557,999 | ||||||
| 2,384 |
DTE Energy Co |
185,642 | ||||||
| 9,487 |
Duke Energy Corp |
703,841 | ||||||
| 1,461 |
* | Dynegy, Inc |
50,843 | |||||
| 4,461 |
Edison International |
259,229 | ||||||
| 600 |
El Paso Electric Co |
24,126 | ||||||
| 1,184 |
Empire District Electric Co |
30,405 | ||||||
| 2,406 |
Entergy Corp |
197,509 | ||||||
| 11,145 |
Exelon Corp |
406,570 | ||||||
| 5,665 |
FirstEnergy Corp |
196,689 | ||||||
| 375 |
*,e | Genie Energy Ltd |
2,951 | |||||
| 2,066 |
Great Plains Energy, Inc |
55,513 | ||||||
| 1,618 |
e | Hawaiian Electric Industries, Inc |
40,968 | |||||
| 750 |
Idacorp, Inc |
43,373 | ||||||
| 1,029 |
Integrys Energy Group, Inc |
73,193 | ||||||
| 2,115 |
ITC Holdings Corp |
77,155 | ||||||
| 440 |
Laclede Group, Inc |
21,362 | ||||||
| 2,402 |
MDU Resources Group, Inc |
84,310 | ||||||
| 840 |
MGE Energy, Inc |
33,188 | ||||||
| 214 |
Middlesex Water Co |
4,533 | ||||||
| 960 |
National Fuel Gas Co |
75,168 | ||||||
| 565 |
New Jersey Resources Corp |
32,295 | ||||||
| 5,850 |
NextEra Energy, Inc |
599,508 | ||||||
| 4,022 |
NiSource, Inc |
158,225 | ||||||
| 4,239 |
Northeast Utilities |
200,378 | ||||||
| 333 |
Northwest Natural Gas Co |
15,701 | ||||||
| 691 |
NorthWestern Corp |
36,063 | ||||||
| 4,524 |
NRG Energy, Inc |
168,293 | ||||||
| 402 |
e | NRG Yield, Inc |
20,924 | |||||
| 2,582 |
OGE Energy Corp |
100,905 | ||||||
| 697 |
ONE Gas, Inc |
26,312 | ||||||
| 240 |
Ormat Technologies, Inc |
6,919 | ||||||
| 489 |
Otter Tail Corp |
14,812 | ||||||
| 529 |
Pattern Energy Group, Inc |
17,515 | ||||||
| 3,367 |
Pepco Holdings, Inc |
92,525 | ||||||
| 6,063 |
PG&E Corp |
291,145 | ||||||
| 1,010 |
Piedmont Natural Gas Co, Inc |
37,784 | ||||||
| 1,599 |
Pinnacle West Capital Corp |
92,486 | ||||||
| 1,049 |
PNM Resources, Inc |
30,767 | ||||||
82
TIAA-CREF LIFE FUNDS - Stock Index Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 1,142 |
Portland General Electric Co |
$ | 39,593 | |||||
| 8,475 |
PPL Corp |
301,117 | ||||||
| 6,787 |
Public Service Enterprise Group, Inc |
276,842 | ||||||
| 2,350 |
Questar Corp |
58,280 | ||||||
| 1,899 |
SCANA Corp |
102,185 | ||||||
| 3,192 |
Sempra Energy |
334,234 | ||||||
| 210 |
SJW Corp |
5,712 | ||||||
| 442 |
South Jersey Industries, Inc |
26,701 | ||||||
| 11,410 |
Southern Co |
517,786 | ||||||
| 587 |
Southwest Gas Corp |
30,988 | ||||||
| 2,922 |
TECO Energy, Inc |
53,999 | ||||||
| 1,493 |
UGI Corp |
75,397 | ||||||
| 895 |
UIL Holdings Corp |
34,645 | ||||||
| 126 |
Unitil Corp |
4,263 | ||||||
| 692 |
UNS Energy Corp |
41,804 | ||||||
| 1,082 |
Vectren Corp |
45,985 | ||||||
| 1,868 |
Westar Energy, Inc |
71,339 | ||||||
| 691 |
WGL Holdings, Inc |
29,782 | ||||||
| 3,025 |
Wisconsin Energy Corp |
141,933 | ||||||
| 6,471 |
Xcel Energy, Inc |
208,560 | ||||||
| 142 |
York Water Co |
2,956 | ||||||
|
|
|
|||||||
| TOTAL UTILITIES |
9,355,937 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $176,069,478) |
296,415,271 | |||||||
|
|
|
|||||||
| RIGHTS / WARRANTS - 0.0% |
||||||||
| ENERGY - 0.0% |
||||||||
| 303 |
m | Magnum Hunter Resources Corp |
0 | |||||
|
|
|
|||||||
| TOTAL ENERGY |
0 | |||||||
|
|
|
|||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0% |
||||||||
| 118 |
*,m | Forest Laboratories, Inc CVR |
112 | |||||
| 499 |
m | Trius Therapeutics, Inc |
65 | |||||
|
|
|
|||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
177 | |||||||
|
|
|
|||||||
| SOFTWARE & SERVICES - 0.0% |
||||||||
| 299 |
*,m | Gerber Scientific, Inc |
0 | |||||
|
|
|
|||||||
| TOTAL SOFTWARE & SERVICES |
0 | |||||||
|
|
|
|||||||
| TELECOMMUNICATION SERVICES - 0.0% |
||||||||
| 710 |
m | Leap Wireless International, Inc |
1,789 | |||||
|
|
|
|||||||
| TOTAL TELECOMMUNICATION SERVICES |
1,789 | |||||||
|
|
|
|||||||
| TOTAL RIGHTS / WARRANTS (Cost $1,796) |
1,966 | |||||||
|
|
|
|||||||
83
TIAA-CREF LIFE FUNDS - Stock Index Fund
| SHORT-TERM INVESTMENTS - 2.6% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.6% |
||||||||
| 7,782,716 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
$ | 7,782,716 | ||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
7,782,716 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $7,782,716) |
7,782,716 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 102.6% (Cost $183,853,990) |
304,199,953 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (2.6)% |
(7,821,549 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 296,378,404 | ||||||
|
|
|
|||||||
| Abbreviation(s): | ||
| REIT |
Real Estate Investment Trust | |
| * | 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 $7,604,628. |
| m | Indicates a security that has been deemed illiquid. |
84
TIAA-CREF LIFE FUNDS - International Equity Fund
TIAA-CREF LIFE FUNDS
INTERNATIONAL EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2014
|
SHARES |
COMPANY |
VALUE | ||||||
| COMMON STOCKS - 100.0% |
||||||||
| AUSTRALIA - 0.8% |
||||||||
| 24,075 |
BHP Billiton Ltd |
$ | 821,069 | |||||
|
|
|
|||||||
| TOTAL AUSTRALIA |
821,069 | |||||||
|
|
|
|||||||
| BELGIUM - 0.6% |
||||||||
| 9,775 |
Arseus NV |
559,466 | ||||||
|
|
|
|||||||
| TOTAL BELGIUM |
559,466 | |||||||
|
|
|
|||||||
| FRANCE - 20.7% |
||||||||
| 90,211 |
Accor S.A. |
4,688,762 | ||||||
| 8,293 |
Aeroports de Paris |
1,093,322 | ||||||
| 12,803 |
e | BNP Paribas |
870,076 | |||||
| 60,649 |
e | Bouygues S.A. |
2,523,617 | |||||
| 57,230 |
Compagnie de Saint-Gobain |
3,229,042 | ||||||
| 2,927 |
Eiffage S.A. |
199,027 | ||||||
| 34,082 |
Essilor International S.A. |
3,611,872 | ||||||
| 1,796 |
Nexity |
82,549 | ||||||
| 59,123 |
Rexel S.A. |
1,382,748 | ||||||
| 20,659 |
Societe Television Francaise 1 |
338,289 | ||||||
| 29,278 |
Vinci S.A. |
2,188,788 | ||||||
|
|
|
|||||||
| TOTAL FRANCE |
20,208,092 | |||||||
|
|
|
|||||||
| GERMANY - 9.0% |
||||||||
| 16,300 |
Bayer AG. |
2,299,492 | ||||||
| 15,261 |
Henkel KGaA (Preference) |
1,763,139 | ||||||
| 28,358 |
Lanxess AG. |
1,912,719 | ||||||
| 12,924 |
Linde AG. |
2,746,299 | ||||||
|
|
|
|||||||
| TOTAL GERMANY |
8,721,649 | |||||||
|
|
|
|||||||
| GREECE - 5.9% |
||||||||
| 62,691 |
* | Hellenic Telecommunications Organization S.A. |
925,926 | |||||
| 613,147 |
* | National Bank of Greece S.A. |
2,229,879 | |||||
| 1,173,786 |
* | Piraeus Bank S.A. |
2,599,723 | |||||
|
|
|
|||||||
| TOTAL GREECE |
5,755,528 | |||||||
|
|
|
|||||||
| HONG KONG - 0.0% |
||||||||
| 508 |
e | Hong Kong Exchanges and Clearing Ltd |
9,470 | |||||
|
|
|
|||||||
| TOTAL HONG KONG |
9,470 | |||||||
|
|
|
|||||||
| INDIA - 8.0% |
||||||||
| 13,811 |
Eicher Motors Ltd |
1,834,516 | ||||||
| 158,064 |
HDFC Bank Ltd |
2,160,840 | ||||||
| 102,990 |
IndusInd Bank Ltd |
979,572 | ||||||
| 100,026 |
Larsen & Toubro Ltd |
2,832,530 | ||||||
|
|
|
|||||||
| TOTAL INDIA |
7,807,458 | |||||||
|
|
|
|||||||
| INDONESIA - 0.6% |
||||||||
| 976,500 |
PT Indofood Sukses Makmur Tbk |
552,395 | ||||||
|
|
|
|||||||
| TOTAL INDONESIA |
552,395 | |||||||
|
|
|
|||||||
85
TIAA-CREF LIFE FUNDS - International Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| ITALY - 0.3% |
||||||||
| 30,727 |
UniCredit S.p.A |
$ | 256,920 | |||||
|
|
|
|||||||
| TOTAL ITALY |
256,920 | |||||||
|
|
|
|||||||
| JAPAN - 13.6% |
||||||||
| 1,600 |
Daikin Industries Ltd |
100,980 | ||||||
| 25,000 |
Daiwa House Industry Co Ltd |
518,265 | ||||||
| 6,622 |
Denso Corp |
316,337 | ||||||
| 8,200 |
Don Quijote Co Ltd |
457,489 | ||||||
| 550 |
Fanuc Ltd |
94,978 | ||||||
| 1,100 |
Fast Retailing Co Ltd |
362,372 | ||||||
| 36,700 |
Hoya Corp |
1,220,194 | ||||||
| 53,000 |
J Front Retailing Co Ltd |
372,114 | ||||||
| 1,103 |
Kao Corp |
43,440 | ||||||
| 980 |
Komatsu Ltd |
22,749 | ||||||
| 19,000 |
Matsui Securities Co Ltd |
192,966 | ||||||
| 652,000 |
* | Mazda Motor Corp |
3,059,783 | |||||
| 993 |
Mitsubishi Corp |
20,669 | ||||||
| 8,016 |
Mitsubishi Electric Corp |
99,020 | ||||||
| 11,000 |
Mitsubishi Heavy Industries Ltd |
68,705 | ||||||
| 29,153 |
Mitsubishi UFJ Financial Group, Inc |
178,962 | ||||||
| 5,000 |
Mitsui Trust Holdings, Inc |
22,852 | ||||||
| 550 |
Nitto Denko Corp |
25,763 | ||||||
| 1,050 |
NOK Corp |
21,113 | ||||||
| 1,453 |
Nomura Holdings, Inc |
10,292 | ||||||
| 76,325 |
* | Olympus Corp |
2,626,063 | |||||
| 10,550 |
Softbank Corp |
786,217 | ||||||
| 93,950 |
e | Sony Corp |
1,569,952 | |||||
| 1,750 |
Sumitomo Corp |
23,613 | ||||||
| 2,200 |
Sumitomo Metal Mining Co Ltd |
35,908 | ||||||
| 2,000 |
Suruga Bank Ltd |
38,848 | ||||||
| 12,300 |
Toyota Motor Corp |
736,433 | ||||||
| 27,800 |
e | Yumeshin Holdings Co Ltd |
263,419 | |||||
|
|
|
|||||||
| TOTAL JAPAN |
13,289,496 | |||||||
|
|
|
|||||||
| MEXICO - 0.6% |
||||||||
| 8,500 |
e | Grupo Financiero Banorte S.A. de C.V. |
60,794 | |||||
| 175,000 |
Qualitas Controladora SAB de C.V. |
505,030 | ||||||
|
|
|
|||||||
| TOTAL MEXICO |
565,824 | |||||||
|
|
|
|||||||
| NETHERLANDS - 4.2% |
||||||||
| 2,512 |
ASML Holding NV |
234,272 | ||||||
| 21,416 |
Heineken NV |
1,537,220 | ||||||
| 167,756 |
* | ING Groep NV |
2,354,034 | |||||
| 114 |
Royal Dutch Shell plc (A Shares) |
4,711 | ||||||
|
|
|
|||||||
| TOTAL NETHERLANDS |
4,130,237 | |||||||
|
|
|
|||||||
| SINGAPORE - 1.0% |
||||||||
| 882,000 |
e | Genting International plc |
941,687 | |||||
|
|
|
|||||||
| TOTAL SINGAPORE |
941,687 | |||||||
|
|
|
|||||||
| SWEDEN - 6.4% |
||||||||
| 151,343 |
e | SKF AB (B Shares) |
3,858,890 | |||||
| 174,819 |
Volvo AB (B Shares) |
2,406,666 | ||||||
|
|
|
|||||||
| TOTAL SWEDEN |
6,265,556 | |||||||
|
|
|
|||||||
| SWITZERLAND - 9.9% |
||||||||
| 39,466 |
Adecco S.A. |
3,247,812 | ||||||
| 2,752 |
Burckhardt Compression Holding AG. |
1,481,812 | ||||||
| 47,276 |
Clariant AG. |
924,475 | ||||||
| 33 |
Givaudan S.A. |
54,976 | ||||||
86
TIAA-CREF LIFE FUNDS - International Equity Fund
|
SHARES |
COMPANY |
VALUE | ||||||
| 21,125 |
Holcim Ltd |
$ | 1,855,565 | |||||
| 16,761 |
Swatch Group AG. (Registered) |
1,859,478 | ||||||
| 11,843 |
UBS AG. |
217,135 | ||||||
|
|
|
|||||||
| TOTAL SWITZERLAND |
9,641,253 | |||||||
|
|
|
|||||||
| UNITED KINGDOM - 18.4% |
||||||||
| 12,334 |
ARM Holdings plc |
185,465 | ||||||
| 18,771 |
Barclays plc |
68,378 | ||||||
| 2,249 |
BG Group plc |
47,457 | ||||||
| 404,074 |
British Sky Broadcasting plc |
6,251,451 | ||||||
| 126,053 |
Filtrona plc |
1,645,938 | ||||||
| 173,218 |
Group 4 Securicor plc |
756,238 | ||||||
| 1,046,409 |
Man Group plc |
1,883,243 | ||||||
| 258,007 |
* | Ocado Ltd |
1,638,521 | |||||
| 21,283 |
Reckitt Benckiser Group plc |
1,855,775 | ||||||
| 29,406 |
Reed Elsevier plc |
472,551 | ||||||
| 7,664 |
Rio Tinto plc |
413,812 | ||||||
| 226,995 |
Tate & Lyle plc |
2,655,829 | ||||||
|
|
|
|||||||
| TOTAL UNITED KINGDOM |
17,874,658 | |||||||
|
|
|
|||||||
| TOTAL COMMON STOCKS (Cost $90,492,993) |
97,400,758 | |||||||
|
|
|
|||||||
| RIGHTS / WARRANTS - 0.1% |
||||||||
| GREECE - 0.1% |
||||||||
| 89,775 |
Piraeus Bank S.A. |
120,471 | ||||||
|
|
|
|||||||
| TOTAL GREECE |
120,471 | |||||||
|
|
|
|||||||
| TOTAL RIGHTS / WARRANTS (Cost $74,328) |
120,471 | |||||||
|
|
|
|||||||
| SHORT-TERM INVESTMENTS - 1.8% |
||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.8% |
||||||||
| 1,716,794 |
c | TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust |
1,716,794 | |||||
|
|
|
|||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES |
1,716,794 | |||||||
|
|
|
|||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $1,716,794) |
1,716,794 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 101.9% | ||||||||
| (Cost $92,284,115) | 99,238,023 | |||||||
| OTHER ASSETS & LIABILITIES, NET - (1.9)% |
(1,782,974 | ) | ||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $ | 97,455,049 | ||||||
|
|
|
|||||||
| * | 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 $1,623,506. |
87
TIAA-CREF LIFE FUNDS - International Equity Fund
TIAA-CREF LIFE FUNDS
INTERNATIONAL EQUITY FUND
SUMMARY OF MARKET VALUES BY SECTOR (unaudited)
June 30, 2014
|
SECTOR |
VALUE | % OF NET ASSETS |
||||||||
| INDUSTRIALS |
$ | 27,729,140 | 28.4 | % | ||||||
| CONSUMER DISCRETIONARY |
23,168,881 | 23.8 | ||||||||
| FINANCIALS |
15,277,751 | 15.7 | ||||||||
| MATERIALS |
10,436,523 | 10.7 | ||||||||
| HEALTH CARE |
9,096,893 | 9.3 | ||||||||
| CONSUMER STAPLES |
8,407,799 | 8.6 | ||||||||
| TELECOMMUNICATION SERVICES |
1,712,143 | 1.8 | ||||||||
| INFORMATION TECHNOLOGY |
1,639,931 | 1.7 | ||||||||
| ENERGY |
52,168 | 0.1 | ||||||||
| SHORT - TERM INVESTMENTS |
1,716,794 | 1.8 | ||||||||
| OTHER ASSETS & LIABILITIES, NET |
(1,782,974 | ) | (1.9 | ) | ||||||
|
|
|
|
|
|||||||
| NET ASSETS |
$ | 97,455,049 | 100.0 | % | ||||||
|
|
|
|
|
|||||||
88
TIAA-CREF LIFE FUNDS - Bond Fund
TIAA-CREF LIFE FUNDS
BOND FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2014
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| BANK LOAN OBLIGATIONS - 0.9% |
||||||||||||||||
| CAPITAL GOODS - 0.0% |
||||||||||||||||
| $75,000 |
i | Gates Global LLC |
4.250 | % | 06/12/21 | $ | 74,731 | |||||||||
|
|
|
|||||||||||||||
| TOTAL CAPITAL GOODS |
74,731 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.0% |
||||||||||||||||
| 99,750 |
i | Capital Safety North America |
4.000 | 03/29/21 | 99,085 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
99,085 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL - 0.1% |
||||||||||||||||
| 150,000 |
i | Libbey Glass, Inc |
3.750 | 04/09/21 | 149,813 | |||||||||||
| 100,000 |
i | Otter Products LLC |
5.750 | 05/30/20 | 99,063 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL CONSUMER DURABLES & APPAREL |
248,876 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES - 0.1% |
||||||||||||||||
| 100,000 |
h,i | Spin Holdco, Inc |
4.250 | 11/14/19 | 100,018 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL CONSUMER SERVICES |
100,018 | |||||||||||||||
|
|
|
|||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 0.1% |
||||||||||||||||
| 100,000 |
h,i | Capsugel Holdings US, Inc |
3.500 | 08/01/18 | 99,764 | |||||||||||
| 25,000 |
h,i | DaVita HealthCare Partners, Inc |
3.500 | 06/24/21 | 25,102 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
124,866 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS - 0.2% |
||||||||||||||||
| 105,000 |
i | Minerals Technologies, Inc |
4.000 | 05/07/21 | 105,394 | |||||||||||
| 200,000 |
i | Signode Industrial Group US, Inc |
4.000 | 05/01/21 | 199,312 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL MATERIALS |
304,706 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA - 0.1% |
||||||||||||||||
| 169,183 |
i | CSC Holdings LLC |
2.650 | 04/17/20 | 167,164 | |||||||||||
| 98,501 |
i | Univision Communications, Inc |
4.000 | 03/01/20 | 98,433 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL MEDIA |
265,597 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAILING - 0.0% |
||||||||||||||||
| 85,000 |
h,i | Stater Bros Markets |
4.750 | 05/12/21 | 85,425 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL RETAILING |
85,425 | |||||||||||||||
|
|
|
|||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.1% |
||||||||||||||||
| 165,000 |
i | Avago Technologies Ltd |
3.750 | 05/06/21 | 165,457 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT |
165,457 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES - 0.0% |
||||||||||||||||
| 50,000 |
h,i | P2 Lower Acquisition LLC |
5.500 | 10/22/20 | 50,063 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL SOFTWARE & SERVICES |
50,063 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES - 0.1% |
||||||||||||||||
| 197,000 |
i | Windstream Corp |
3.500 | 01/23/20 | 196,507 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL TELECOMMUNICATION SERVICES |
196,507 | |||||||||||||||
|
|
|
|||||||||||||||
89
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| UTILITIES - 0.1% |
||||||||||||||||
| $155,000 |
i | Evergreen Skills Lux S.a.r.l. |
7.750 | % | 04/28/22 | $ | 153,741 | |||||||||
|
|
|
|||||||||||||||
| TOTAL UTILITIES |
153,741 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL BANK LOAN OBLIGATIONS (Cost $1,867,977) |
1,869,072 | |||||||||||||||
|
|
|
|||||||||||||||
| BONDS - 96.0% |
||||||||||||||||
| CORPORATE BONDS - 39.0% |
||||||||||||||||
| AUTOMOBILES & COMPONENTS - 0.2% |
||||||||||||||||
| 300,000 |
Johnson Controls, Inc |
4.625 | 07/02/44 | 300,237 | ||||||||||||
| 175,000 |
Magna International, Inc |
3.625 | 06/15/24 | 176,416 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL AUTOMOBILES & COMPONENTS |
476,653 | |||||||||||||||
|
|
|
|||||||||||||||
| BANKS - 4.5% |
||||||||||||||||
| 200,000 |
g | Banco de Credito del Peru |
5.375 | 09/16/20 | 219,250 | |||||||||||
| 150,000 |
g | Banco del Estado de Chile |
3.875 | 02/08/22 | 151,097 | |||||||||||
| 200,000 |
g | Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santander | 4.125 | 11/09/22 | 203,000 | |||||||||||
| 110,000 |
Bancolombia S.A. |
5.950 | 06/03/21 | 121,275 | ||||||||||||
| 150,000 |
g | Bank of Tokyo-Mitsubishi UFJ Ltd |
2.350 | 02/23/17 | 154,372 | |||||||||||
| 50,000 |
BB&T Corp |
2.050 | 06/19/18 | 50,550 | ||||||||||||
| 250,000 |
BDO Unibank, Inc |
4.500 | 02/16/17 | 262,812 | ||||||||||||
| 200,000 |
g | Caixa Economica Federal |
2.375 | 11/06/17 | 195,500 | |||||||||||
| 175,000 |
g | Caixa Economica Federal |
4.250 | 05/13/19 | 176,662 | |||||||||||
| 60,000 |
Capital One Bank USA NA |
3.375 | 02/15/23 | 59,595 | ||||||||||||
| 50,000 |
Citigroup, Inc |
5.000 | 09/15/14 | 50,443 | ||||||||||||
| 34,000 |
Citigroup, Inc |
5.500 | 10/15/14 | 34,491 | ||||||||||||
| 100,000 |
Citigroup, Inc |
2.550 | 04/08/19 | 100,782 | ||||||||||||
| 225,000 |
Citigroup, Inc |
3.500 | 05/15/23 | 219,025 | ||||||||||||
| 125,000 |
Citigroup, Inc |
3.750 | 06/16/24 | 125,349 | ||||||||||||
| 200,000 |
Citigroup, Inc |
5.300 | 05/06/44 | 208,610 | ||||||||||||
| 100,000 |
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA |
3.950 | 11/09/22 | 101,663 | ||||||||||||
| 125,000 |
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA |
4.625 | 12/01/23 | 132,118 | ||||||||||||
| 300,000 |
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA |
5.750 | 12/01/43 | 345,705 | ||||||||||||
| 100,000 |
g,i | Credit Agricole S.A. |
7.875 | 12/30/49 | 109,250 | |||||||||||
| 305,000 |
Deutsche Bank AG. |
3.700 | 05/30/24 | 305,093 | ||||||||||||
| 200,000 |
Fifth Third Bancorp |
2.375 | 04/25/19 | 202,597 | ||||||||||||
| 50,000 |
g | HSBC Bank plc |
1.500 | 05/15/18 | 49,609 | |||||||||||
| 150,000 |
g | HSBC Bank plc |
4.125 | 08/12/20 | 162,357 | |||||||||||
| 450,000 |
HSBC Holdings plc |
4.250 | 03/14/24 | 463,107 | ||||||||||||
| 175,000 |
HSBC Holdings plc |
5.250 | 03/14/44 | 187,390 | ||||||||||||
| 225,000 |
HSBC USA, Inc |
2.375 | 02/13/15 | 227,800 | ||||||||||||
| 150,000 |
HSBC USA, Inc |
1.625 | 01/16/18 | 150,336 | ||||||||||||
| 150,000 |
HSBC USA, Inc |
2.250 | 06/23/19 | 150,495 | ||||||||||||
| 200,000 |
g | Hutchison Whampoa International 12 II Ltd |
3.250 | 11/08/22 | 196,344 | |||||||||||
| 60,000 |
JPMorgan Chase & Co |
5.125 | 09/15/14 | 60,569 | ||||||||||||
| 500,000 |
JPMorgan Chase & Co |
3.875 | 02/01/24 | 514,889 | ||||||||||||
| 100,000 |
i | JPMorgan Chase & Co |
5.150 | 12/30/49 | 95,875 | |||||||||||
| 100,000 |
g | Macquarie Bank Ltd |
2.600 | 06/24/19 | 100,632 | |||||||||||
| 175,000 |
PNC Bank NA |
2.200 | 01/28/19 | 176,724 | ||||||||||||
| 225,000 |
PNC Bank NA |
2.250 | 07/02/19 | 226,201 | ||||||||||||
| 150,000 |
PNC Bank NA |
2.700 | 11/01/22 | 144,594 | ||||||||||||
| 600,000 |
PNC Bank NA |
2.950 | 01/30/23 | 587,230 | ||||||||||||
| 140,000 |
g,i | Rabobank Nederland NV |
11.000 | 12/30/49 | 187,977 | |||||||||||
| 500,000 |
Royal Bank of Canada |
1.200 | 09/19/17 | 498,718 | ||||||||||||
| 175,000 |
Royal Bank of Canada |
2.200 | 07/27/18 | 178,705 | ||||||||||||
| 100,000 |
g | Sumitomo Mitsui Banking Corp |
3.150 | 07/22/15 | 102,760 | |||||||||||
| 75,000 |
Sumitomo Mitsui Banking Corp |
2.500 | 07/19/18 | 76,687 | ||||||||||||
| 100,000 |
SunTrust Bank |
2.750 | 05/01/23 | 95,993 | ||||||||||||
| 50,000 |
Toronto-Dominion Bank |
2.500 | 07/14/16 | 51,784 | ||||||||||||
| 200,000 |
g | Turkiye Garanti Bankasi AS. |
4.750 | 10/17/19 | 201,500 | |||||||||||
| 150,000 |
Union Bank NA |
2.125 | 06/16/17 | 153,335 | ||||||||||||
90
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $125,000 |
UnionBanCal Corp |
3.500 | % | 06/18/22 | $ | 128,893 | ||||||||||
| 200,000 |
US Bancorp |
1.650 | 05/15/17 | 203,053 | ||||||||||||
| 125,000 |
US Bancorp |
2.950 | 07/15/22 | 123,097 | ||||||||||||
| 50,000 |
Westpac Banking Corp |
3.000 | 08/04/15 | 51,375 | ||||||||||||
| 200,000 |
Westpac Banking Corp |
2.250 | 01/17/19 | 202,424 | ||||||||||||
| 200,000 |
g | Zenith Bank plc |
6.250 | 04/22/19 | 199,260 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL BANKS |
9,478,952 | |||||||||||||||
|
|
|
|||||||||||||||
| CAPITAL GOODS - 1.3% |
||||||||||||||||
| 250,000 |
Caterpillar, Inc |
1.500 | 06/26/17 | 252,839 | ||||||||||||
| 100,000 |
g | EADS Finance BV |
2.700 | 04/17/23 | 96,297 | |||||||||||
| 100,000 |
Eaton Corp |
4.000 | 11/02/32 | 100,064 | ||||||||||||
| 925,000 |
John Deere Capital Corp |
1.950 | 03/04/19 | 925,415 | ||||||||||||
| 100,000 |
g | Schaeffler Finance BV |
4.750 | 05/15/21 | 103,000 | |||||||||||
| 300,000 |
g | Seagate HDD Cayman |
4.750 | 06/01/23 | 302,250 | |||||||||||
| 150,000 |
g | Seagate HDD Cayman |
4.750 | 01/01/25 | 148,875 | |||||||||||
| 111,000 |
g | Sealed Air Corp |
8.375 | 09/15/21 | 127,095 | |||||||||||
| 70,000 |
g | Sealed Air Corp |
5.250 | 04/01/23 | 71,050 | |||||||||||
| 120,000 |
SPX Corp |
6.875 | 09/01/17 | 135,000 | ||||||||||||
| 100,000 |
g | Stena AB |
7.000 | 02/01/24 | 106,500 | |||||||||||
| 125,000 |
United Technologies Corp |
1.800 | 06/01/17 | 127,675 | ||||||||||||
| 50,000 |
United Technologies Corp |
4.500 | 06/01/42 | 52,368 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL CAPITAL GOODS |
2,548,428 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.5% |
||||||||||||||||
| 100,000 |
ADT Corp |
6.250 | 10/15/21 | 106,000 | ||||||||||||
| 250,000 |
Air Lease Corp |
3.875 | 04/01/21 | 255,000 | ||||||||||||
| 75,000 |
Republic Services, Inc |
3.800 | 05/15/18 | 80,350 | ||||||||||||
| 250,000 |
Republic Services, Inc |
3.550 | 06/01/22 | 258,438 | ||||||||||||
| 25,000 |
g | Time, Inc |
5.750 | 04/15/22 | 25,250 | |||||||||||
| 250,000 |
Waste Management, Inc |
2.600 | 09/01/16 | 258,656 | ||||||||||||
| 100,000 |
Waste Management, Inc |
2.900 | 09/15/22 | 97,947 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES |
1,081,641 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER DURABLES & APPAREL - 0.2% |
||||||||||||||||
| 135,000 |
DR Horton, Inc |
4.750 | 05/15/17 | 143,100 | ||||||||||||
| 200,000 |
PVH Corp |
4.500 | 12/15/22 | 197,000 | ||||||||||||
| 100,000 |
Whirlpool Corp |
3.700 | 03/01/23 | 100,987 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL CONSUMER DURABLES & APPAREL |
441,087 | |||||||||||||||
|
|
|
|||||||||||||||
| CONSUMER SERVICES - 0.4% |
||||||||||||||||
| 100,000 |
Ameristar Casinos, Inc |
7.500 | 04/15/21 | 107,750 | ||||||||||||
| 100,000 |
ARAMARK Corp |
5.750 | 03/15/20 | 105,750 | ||||||||||||
| 50,000 |
g | GLP Capital LP |
4.375 | 11/01/18 | 51,625 | |||||||||||
| 150,000 |
g | SABMiller Holdings, Inc |
3.750 | 01/15/22 | 155,320 | |||||||||||
| 100,000 |
g | SABMiller Holdings, Inc |
4.950 | 01/15/42 | 108,061 | |||||||||||
| 100,000 |
Walt Disney Co |
0.450 | 12/01/15 | 100,099 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL CONSUMER SERVICES |
628,605 | |||||||||||||||
|
|
|
|||||||||||||||
| DIVERSIFIED FINANCIALS - 6.3% |
||||||||||||||||
| 100,000 |
g | Abbey National Treasury Services plc |
3.875 | 11/10/14 | 101,228 | |||||||||||
| 40,000 |
Abbey National Treasury Services plc |
4.000 | 04/27/16 | 42,176 | ||||||||||||
| 125,000 |
American Express Centurion Bank |
6.000 | 09/13/17 | 143,188 | ||||||||||||
| 1,325,000 |
American Express Credit Corp |
1.300 | 07/29/16 | 1,336,021 | ||||||||||||
| 1,275,000 |
American Express Credit Corp |
2.125 | 07/27/18 | 1,295,474 | ||||||||||||
| 750,000 |
g,i | Armor Re Ltd |
4.020 | 12/15/16 | 737,700 | |||||||||||
| 200,000 |
Bank of America Corp |
5.300 | 03/15/17 | 219,967 | ||||||||||||
| 1,000,000 |
Bank of America Corp |
2.600 | 01/15/19 | 1,011,763 | ||||||||||||
| 500,000 |
Bank of America Corp |
2.650 | 04/01/19 | 506,800 | ||||||||||||
| 475,000 |
Bank of America Corp |
4.100 | 07/24/23 | 492,987 | ||||||||||||
| 250,000 |
Bank of America Corp |
4.000 | 04/01/24 | 255,133 | ||||||||||||
| 50,000 |
Bank of America Corp |
5.000 | 01/21/44 | 53,047 | ||||||||||||
91
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 50,000 |
Bank of New York Mellon Corp |
5.450 | % | 05/15/19 | $ | 57,614 | ||||||||||
| 150,000 |
g | BBVA Bancomer S.A. |
4.375 | 04/10/24 | 152,812 | |||||||||||
| 50,000 |
BlackRock, Inc |
3.500 | 12/10/14 | 50,721 | ||||||||||||
| 150,000 |
BlackRock, Inc |
4.250 | 05/24/21 | 164,568 | ||||||||||||
| 75,000 |
Capital One Financial Corp |
1.000 | 11/06/15 | 75,206 | ||||||||||||
| 200,000 |
g | Comcel Trust |
6.875 | 02/06/24 | 216,000 | |||||||||||
| 125,000 |
Credit Suisse |
2.300 | 05/28/19 | 125,201 | ||||||||||||
| 65,000 |
Ford Motor Credit Co LLC |
4.250 | 02/03/17 | 69,806 | ||||||||||||
| 250,000 |
Ford Motor Credit Co LLC |
3.000 | 06/12/17 | 260,812 | ||||||||||||
| 35,000 |
Ford Motor Credit Co LLC |
6.625 | 08/15/17 | 40,289 | ||||||||||||
| 150,000 |
General Electric Capital Corp |
2.300 | 01/14/19 | 153,019 | ||||||||||||
| 750,000 |
General Electric Capital Corp |
3.100 | 01/09/23 | 744,112 | ||||||||||||
| 150,000 |
Goldman Sachs Group, Inc |
3.300 | 05/03/15 | 153,331 | ||||||||||||
| 500,000 |
Goldman Sachs Group, Inc |
2.625 | 01/31/19 | 506,796 | ||||||||||||
| 400,000 |
Goldman Sachs Group, Inc |
3.625 | 01/22/23 | 401,720 | ||||||||||||
| 250,000 |
Goldman Sachs Group, Inc |
4.000 | 03/03/24 | 254,490 | ||||||||||||
| 125,000 |
h | Goldman Sachs Group, Inc |
3.850 | 07/08/24 | 124,835 | |||||||||||
| 25,000 |
Goldman Sachs Group, Inc |
6.750 | 10/01/37 | 30,076 | ||||||||||||
| 250,000 |
h | Goldman Sachs Group, Inc |
4.800 | 07/08/44 | 248,780 | |||||||||||
| 100,000 |
g | Hyundai Capital America, Inc |
3.750 | 04/06/16 | 104,656 | |||||||||||
| 200,000 |
g | Hyundai Capital Services, Inc |
3.500 | 09/13/17 | 210,412 | |||||||||||
| 100,000 |
Icahn Enterprises LP |
4.875 | 03/15/19 | 103,000 | ||||||||||||
| 35,000 |
g | International Lease Finance Corp |
6.500 | 09/01/14 | 35,262 | |||||||||||
| 130,000 |
International Lease Finance Corp |
5.750 | 05/15/16 | 139,263 | ||||||||||||
| 100,000 |
International Lease Finance Corp |
3.875 | 04/15/18 | 102,500 | ||||||||||||
| 150,000 |
International Lease Finance Corp |
5.875 | 08/15/22 | 163,875 | ||||||||||||
| 100,000 |
Legg Mason, Inc |
2.700 | 07/15/19 | 100,703 | ||||||||||||
| 100,000 |
Legg Mason, Inc |
3.950 | 07/15/24 | 100,939 | ||||||||||||
| 325,000 |
Morgan Stanley |
1.750 | 02/25/16 | 329,616 | ||||||||||||
| 250,000 |
Morgan Stanley |
6.375 | 07/24/42 | 317,211 | ||||||||||||
| 50,000 |
National Rural Utilities Cooperative Finance Corp |
10.375 | 11/01/18 | 67,361 | ||||||||||||
| 100,000 |
g | SUAM Finance BV |
4.875 | 04/17/24 | 102,000 | |||||||||||
| 100,000 |
Toyota Motor Credit Corp |
1.250 | 10/05/17 | 99,931 | ||||||||||||
| 250,000 |
g | UBS AG. |
1.875 | 01/23/15 | 252,118 | |||||||||||
| 175,000 |
Unilever Capital Corp |
2.200 | 03/06/19 | 177,532 | ||||||||||||
| 50,000 |
Unilever Capital Corp |
4.250 | 02/10/21 | 55,083 | ||||||||||||
| 65,000 |
g | Waha Aerospace BV |
3.925 | 07/28/20 | 69,052 | |||||||||||
| 350,000 |
Wells Fargo & Co |
1.500 | 07/01/15 | 353,947 | ||||||||||||
| 200,000 |
Wells Fargo & Co |
4.100 | 06/03/26 | 202,520 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL DIVERSIFIED FINANCIALS |
13,112,653 | |||||||||||||||
|
|
|
|||||||||||||||
| ENERGY - 3.4% |
||||||||||||||||
| 50,000 |
Anadarko Petroleum Corp |
5.950 | 09/15/16 | 55,378 | ||||||||||||
| 30,000 |
Anadarko Petroleum Corp |
6.950 | 06/15/19 | 36,715 | ||||||||||||
| 100,000 |
Apache Corp |
1.750 | 04/15/17 | 101,772 | ||||||||||||
| 205,000 |
Apache Corp |
4.750 | 04/15/43 | 214,837 | ||||||||||||
| 375,000 |
Ashland, Inc |
3.875 | 04/15/18 | 385,781 | ||||||||||||
| 250,000 |
BP Capital Markets plc |
1.375 | 05/10/18 | 247,673 | ||||||||||||
| 165,000 |
g | Calumet Specialty Products Partners LP |
6.500 | 04/15/21 | 168,300 | |||||||||||
| 100,000 |
Canadian Natural Resources Ltd |
3.800 | 04/15/24 | 103,081 | ||||||||||||
| 50,000 |
i | Chesapeake Energy Corp |
3.479 | 04/15/19 | 50,562 | |||||||||||
| 250,000 |
Chevron Corp |
2.355 | 12/05/22 | 240,316 | ||||||||||||
| 155,000 |
Cimarex Energy Co |
5.875 | 05/01/22 | 171,275 | ||||||||||||
| 150,000 |
Concho Resources, Inc |
5.500 | 04/01/23 | 161,250 | ||||||||||||
| 50,000 |
g | CONSOL Energy, Inc |
5.875 | 04/15/22 | 52,375 | |||||||||||
| 105,000 |
Continental Resources, Inc |
5.000 | 09/15/22 | 114,187 | ||||||||||||
| 175,000 |
Devon Energy Corp |
1.875 | 05/15/17 | 178,023 | ||||||||||||
| 50,000 |
Devon Energy Corp |
4.750 | 05/15/42 | 51,956 | ||||||||||||
| 60,000 |
Ecopetrol S.A. |
5.875 | 05/28/45 | 62,057 | ||||||||||||
| 300,000 |
g | EDC Finance Ltd |
4.875 | 04/17/20 | 293,250 | |||||||||||
| 25,000 |
Enbridge Energy Partners LP |
5.200 | 03/15/20 | 27,918 | ||||||||||||
| 25,000 |
Enterprise Products Operating LLC |
5.000 | 03/01/15 | 25,753 | ||||||||||||
| 250,000 |
Enterprise Products Operating LLC |
5.100 | 02/15/45 | 266,864 | ||||||||||||
| 75,000 |
EOG Resources, Inc |
2.625 | 03/15/23 | 72,378 | ||||||||||||
92
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 75,000 |
g | Exterran Partners |
6.000 | % | 10/01/22 | $ | 76,125 | |||||||||
| 75,000 |
Hess Corp |
5.600 | 02/15/41 | 87,209 | ||||||||||||
| 250,000 |
g | Indo Energy Finance II BV |
6.375 | 01/24/23 | 208,625 | |||||||||||
| 50,000 |
Marathon Petroleum Corp |
3.500 | 03/01/16 | 52,214 | ||||||||||||
| 150,000 |
Noble Energy, Inc |
5.250 | 11/15/43 | 165,361 | ||||||||||||
| 25,000 |
Noble Holding International Ltd |
3.450 | 08/01/15 | 25,713 | ||||||||||||
| 75,000 |
Noble Holding International Ltd |
4.900 | 08/01/20 | 82,735 | ||||||||||||
| 200,000 |
g | Oleoducto Central SA |
4.000 | 05/07/21 | 200,000 | |||||||||||
| 200,000 |
g | ONE Gas, Inc |
2.070 | 02/01/19 | 200,176 | |||||||||||
| 100,000 |
g | ONE Gas, Inc |
3.610 | 02/01/24 | 103,391 | |||||||||||
| 250,000 |
g | ONE Gas, Inc |
4.658 | 02/01/44 | 269,293 | |||||||||||
| 100,000 |
g | Pacific Rubiales Energy Corp |
5.375 | 01/26/19 | 104,250 | |||||||||||
| 100,000 |
i | Petrobras Global Finance BV |
1.849 | 05/20/16 | 100,124 | |||||||||||
| 100,000 |
Petrobras Global Finance BV |
3.250 | 03/17/17 | 102,529 | ||||||||||||
| 100,000 |
i | Petrobras Global Finance BV |
2.367 | 01/15/19 | 99,500 | |||||||||||
| 100,000 |
Petrobras International Finance Co |
3.875 | 01/27/16 | 103,105 | ||||||||||||
| 100,000 |
Petrobras International Finance Co |
3.500 | 02/06/17 | 102,650 | ||||||||||||
| 50,000 |
Petroleos Mexicanos |
4.875 | 03/15/15 | 51,400 | ||||||||||||
| 250,000 |
Petroleos Mexicanos |
3.500 | 07/18/18 | 262,750 | ||||||||||||
| 20,000 |
Petroleos Mexicanos |
8.000 | 05/03/19 | 24,780 | ||||||||||||
| 100,000 |
g | Petroleum Co of Trinidad & Tobago Ltd |
9.750 | 08/14/19 | 125,750 | |||||||||||
| 100,000 |
Phillips 66 |
1.950 | 03/05/15 | 101,001 | ||||||||||||
| 45,000 |
Precision Drilling Corp |
6.500 | 12/15/21 | 48,937 | ||||||||||||
| 200,000 |
g | PTT Exploration & Production PCL |
3.707 | 09/16/18 | 208,891 | |||||||||||
| 50,000 |
Regency Energy Partners LP |
5.875 | 03/01/22 | 54,313 | ||||||||||||
| 75,000 |
Shell International Finance BV |
2.375 | 08/21/22 | 72,238 | ||||||||||||
| 75,000 |
Shell International Finance BV |
4.550 | 08/12/43 | 78,997 | ||||||||||||
| 25,000 |
Statoil ASA |
2.900 | 10/15/14 | 25,186 | ||||||||||||
| 100,000 |
Statoil ASA |
1.200 | 01/17/18 | 99,278 | ||||||||||||
| 200,000 |
Statoil ASA |
2.450 | 01/17/23 | 191,971 | ||||||||||||
| 125,000 |
Statoil ASA |
4.250 | 11/23/41 | 126,012 | ||||||||||||
| 100,000 |
Total Capital Canada Ltd |
1.450 | 01/15/18 | 100,035 | ||||||||||||
| 150,000 |
Total Capital International S.A. |
1.500 | 02/17/17 | 152,399 | ||||||||||||
| 100,000 |
TransCanada PipeLines Ltd |
5.850 | 03/15/36 | 119,508 | ||||||||||||
| 85,000 |
Vale Overseas Ltd |
4.375 | 01/11/22 | 87,270 | ||||||||||||
| 25,000 |
Vale Overseas Ltd |
6.875 | 11/21/36 | 27,676 | ||||||||||||
| 50,000 |
Valero Energy Corp |
4.500 | 02/01/15 | 51,151 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL ENERGY |
7,174,244 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD & STAPLES RETAILING - 0.2% |
||||||||||||||||
| 50,000 |
CVS Caremark Corp |
3.250 | 05/18/15 | 51,274 | ||||||||||||
| 125,000 |
CVS Caremark Corp |
4.000 | 12/05/23 | 130,808 | ||||||||||||
| 100,000 |
CVS Caremark Corp |
5.300 | 12/05/43 | 113,047 | ||||||||||||
| 200,000 |
Ingles Markets, Inc |
5.750 | 06/15/23 | 203,000 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL FOOD & STAPLES RETAILING |
498,129 | |||||||||||||||
|
|
|
|||||||||||||||
| FOOD, BEVERAGE & TOBACCO - 0.9% |
||||||||||||||||
| 200,000 |
Anheuser-Busch InBev Worldwide, Inc |
2.875 | 02/15/16 | 207,405 | ||||||||||||
| 200,000 |
Anheuser-Busch InBev Worldwide, Inc |
1.375 | 07/15/17 | 200,673 | ||||||||||||
| 125,000 |
Anheuser-Busch InBev Worldwide, Inc |
2.500 | 07/15/22 | 119,779 | ||||||||||||
| 25,000 |
Campbell Soup Co |
2.500 | 08/02/22 | 23,521 | ||||||||||||
| 125,000 |
Coca-Cola Co |
3.200 | 11/01/23 | 126,346 | ||||||||||||
| 150,000 |
Diageo Capital plc |
2.625 | 04/29/23 | 143,793 | ||||||||||||
| 200,000 |
g | Embotelladora Andina S.A. |
5.000 | 10/01/23 | 212,170 | |||||||||||
| 55,000 |
General Mills, Inc |
5.200 | 03/17/15 | 56,848 | ||||||||||||
| 100,000 |
g | Grupo Bimbo SAB de C.V. |
4.500 | 01/25/22 | 105,758 | |||||||||||
| 200,000 |
g | Grupo Bimbo SAB de C.V. |
3.875 | 06/27/24 | 199,604 | |||||||||||
| 94,000 |
Kraft Foods Group, Inc |
6.500 | 02/09/40 | 120,370 | ||||||||||||
| 100,000 |
Mondelez International, Inc |
4.125 | 02/09/16 | 105,157 | ||||||||||||
| 50,000 |
Mondelez International, Inc |
4.000 | 02/01/24 | 51,790 | ||||||||||||
| 5,000 |
PepsiCo, Inc |
7.900 | 11/01/18 | 6,224 | ||||||||||||
| 32,000 |
g | Pernod-Ricard S.A. |
5.750 | 04/07/21 | 36,786 | |||||||||||
| 175,000 |
g | Pernod-Ricard S.A. |
4.250 | 07/15/22 | 183,295 | |||||||||||
| 60,000 |
g | Post Holdings, Inc |
6.000 | 12/15/22 | 61,200 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL FOOD, BEVERAGE & TOBACCO |
1,960,719 | |||||||||||||||
|
|
|
|||||||||||||||
93
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 1.2% |
||||||||||||||||
| $ 110,000 |
Baxter International, Inc |
3.200 | % | 06/15/23 | $ | 109,102 | ||||||||||
| 50,000 |
Becton Dickinson & Co |
1.750 | 11/08/16 | 50,945 | ||||||||||||
| 100,000 |
g | CHS/Community Health Systems |
6.875 | 02/01/22 | 106,000 | |||||||||||
| 100,000 |
Covidien International Finance S.A. |
1.350 | 05/29/15 | 100,812 | ||||||||||||
| 100,000 |
Covidien International Finance S.A. |
3.200 | 06/15/22 | 100,586 | ||||||||||||
| 500,000 |
Express Scripts Holding Co |
2.100 | 02/12/15 | 505,046 | ||||||||||||
| 100,000 |
Express Scripts Holding Co |
3.900 | 02/15/22 | 104,654 | ||||||||||||
| 130,000 |
g | Fresenius Medical Care Capital Trust |
5.750 | 02/15/21 | 142,025 | |||||||||||
| 40,000 |
HCA, Inc |
6.500 | 02/15/20 | 45,000 | ||||||||||||
| 150,000 |
HCA, Inc |
5.875 | 03/15/22 | 162,563 | ||||||||||||
| 100,000 |
Mallinckrodt International Finance S.A. |
3.500 | 04/15/18 | 99,500 | ||||||||||||
| 375,000 |
McKesson Corp |
4.883 | 03/15/44 | 393,809 | ||||||||||||
| 75,000 |
Thermo Fisher Scientific, Inc |
2.250 | 08/15/16 | 76,970 | ||||||||||||
| 100,000 |
Thermo Fisher Scientific, Inc |
2.400 | 02/01/19 | 101,018 | ||||||||||||
| 100,000 |
Thermo Fisher Scientific, Inc |
4.150 | 02/01/24 | 104,575 | ||||||||||||
| 125,000 |
Thermo Fisher Scientific, Inc |
5.300 | 02/01/44 | 138,739 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES |
2,341,344 | |||||||||||||||
|
|
|
|||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 0.1% |
||||||||||||||||
| 75,000 |
Clorox Co |
3.800 | 11/15/21 | 78,553 | ||||||||||||
| 50,000 |
Colgate-Palmolive Co |
2.300 | 05/03/22 | 48,540 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS |
127,093 | |||||||||||||||
|
|
|
|||||||||||||||
| INSURANCE - 2.0% |
||||||||||||||||
| 125,000 |
Aetna, Inc |
1.500 | 11/15/17 | 125,473 | ||||||||||||
| 100,000 |
Allstate Corp |
3.150 | 06/15/23 | 100,340 | ||||||||||||
| 100,000 |
Allstate Corp |
4.500 | 06/15/43 | 103,889 | ||||||||||||
| 125,000 |
Berkshire Hathaway Finance Corp |
1.300 | 05/15/18 | 123,925 | ||||||||||||
| 100,000 |
Chubb Corp |
6.000 | 05/11/37 | 125,768 | ||||||||||||
| 20,000 |
CIGNA Corp |
5.125 | 06/15/20 | 22,615 | ||||||||||||
| 100,000 |
CIGNA Corp |
4.500 | 03/15/21 | 109,893 | ||||||||||||
| 425,000 |
g | Five Corners Funding Trust |
4.419 | 11/15/23 | 448,091 | |||||||||||
| 75,000 |
Hartford Financial Services Group, Inc |
4.000 | 03/30/15 | 77,000 | ||||||||||||
| 100,000 |
Hartford Financial Services Group, Inc |
4.000 | 10/15/17 | 107,906 | ||||||||||||
| 25,000 |
Lincoln National Corp |
7.000 | 06/15/40 | 34,274 | ||||||||||||
| 50,000 |
g | MetLife Institutional Funding II |
1.625 | 04/02/15 | 50,451 | |||||||||||
| 100,000 |
MetLife, Inc |
6.750 | 06/01/16 | 111,127 | ||||||||||||
| 300,000 |
MetLife, Inc |
4.368 | 09/15/23 | 321,849 | ||||||||||||
| 100,000 |
Principal Financial Group, Inc |
1.850 | 11/15/17 | 100,505 | ||||||||||||
| 150,000 |
Progressive Corp |
3.750 | 08/23/21 | 159,849 | ||||||||||||
| 175,000 |
Prudential Financial, Inc |
5.400 | 06/13/35 | 196,842 | ||||||||||||
| 100,000 |
Prudential Financial, Inc |
5.100 | 08/15/43 | 107,978 | ||||||||||||
| 475,000 |
i | Prudential Financial, Inc |
5.200 | 03/15/44 | 484,500 | |||||||||||
| 100,000 |
g | Prudential Funding LLC |
6.750 | 09/15/23 | 124,335 | |||||||||||
| 100,000 |
g | Swiss Re Treasury US Corp |
2.875 | 12/06/22 | 95,712 | |||||||||||
| 125,000 |
g | Swiss Re Treasury US Corp |
4.250 | 12/06/42 | 120,406 | |||||||||||
| 25,000 |
Travelers Cos, Inc |
5.800 | 05/15/18 | 28,711 | ||||||||||||
| 125,000 |
UnitedHealth Group, Inc |
0.850 | 10/15/15 | 125,553 | ||||||||||||
| 100,000 |
UnitedHealth Group, Inc |
1.400 | 10/15/17 | 100,379 | ||||||||||||
| 125,000 |
UnitedHealth Group, Inc |
3.950 | 10/15/42 | 117,101 | ||||||||||||
| 250,000 |
WellPoint, Inc |
3.125 | 05/15/22 | 249,631 | ||||||||||||
| 150,000 |
WellPoint, Inc |
4.625 | 05/15/42 | 152,720 | ||||||||||||
| 150,000 |
Willis Group Holdings plc |
4.125 | 03/15/16 | 156,840 | ||||||||||||
| 25,000 |
WR Berkley Corp |
5.375 | 09/15/20 | 28,096 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL INSURANCE |
4,211,759 | |||||||||||||||
|
|
|
|||||||||||||||
| MATERIALS - 2.0% |
||||||||||||||||
| 35,000 |
Air Products & Chemicals, Inc |
4.375 | 08/21/19 | 38,660 | ||||||||||||
| 10,000 |
Airgas, Inc |
4.500 | 09/15/14 | 10,083 | ||||||||||||
| 60,000 |
ArcelorMittal |
5.000 | 02/25/17 | 63,450 | ||||||||||||
94
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $125,000 |
Barrick North America Finance LLC |
4.400 | % | 05/30/21 | $ | 130,784 | ||||||||||
| 200,000 |
Braskem Finance Ltd |
6.450 | 02/03/24 | 213,750 | ||||||||||||
| 75,000 |
g | Cascades, Inc |
5.500 | 07/15/22 | 74,812 | |||||||||||
| 200,000 |
g | Cemex Finance LLC |
6.000 | 04/01/24 | 208,250 | |||||||||||
| 100,000 |
Corning, Inc |
1.450 | 11/15/17 | 98,328 | ||||||||||||
| 200,000 |
g | Corp Nacional del Cobre de Chile-CODELCO |
3.875 | 11/03/21 | 207,218 | |||||||||||
| 257,000 |
Crown Americas LLC |
6.250 | 02/01/21 | 274,990 | ||||||||||||
| 105,000 |
Crown Americas LLC |
4.500 | 01/15/23 | 102,270 | ||||||||||||
| 75,000 |
Fibria Overseas Finance Ltd |
5.250 | 05/12/24 | 74,625 | ||||||||||||
| 250,000 |
g | Glencore Funding LLC |
2.500 | 01/15/19 | 249,364 | |||||||||||
| 175,000 |
g | Glencore Funding LLC |
3.125 | 04/29/19 | 178,465 | |||||||||||
| 125,000 |
g | Glencore Funding LLC |
4.625 | 04/29/24 | 128,862 | |||||||||||
| 100,000 |
Hexion US Finance Corp |
6.625 | 04/15/20 | 106,000 | ||||||||||||
| 725,000 |
International Paper Co |
4.750 | 02/15/22 | 799,434 | ||||||||||||
| 50,000 |
International Paper Co |
4.800 | 06/15/44 | 50,394 | ||||||||||||
| 100,000 |
Monsanto Co |
3.375 | 07/15/24 | 100,661 | ||||||||||||
| 100,000 |
Monsanto Co |
4.200 | 07/15/34 | 100,928 | ||||||||||||
| 125,000 |
Nucor Corp |
4.000 | 08/01/23 | 129,510 | ||||||||||||
| 200,000 |
g | OCP S.A. |
5.625 | 04/25/24 | 209,750 | |||||||||||
| 50,000 |
Rio Tinto Finance USA Ltd |
2.250 | 09/20/16 | 51,551 | ||||||||||||
| 85,000 |
Rio Tinto Finance USA plc |
2.250 | 12/14/18 | 86,646 | ||||||||||||
| 100,000 |
Rosetta Resources, Inc |
5.625 | 05/01/21 | 102,875 | ||||||||||||
| 225,000 |
Sherwin-Williams Co |
1.350 | 12/15/17 | 225,290 | ||||||||||||
| 100,000 |
Teck Resources Ltd |
2.500 | 02/01/18 | 101,857 | ||||||||||||
| 150,000 |
Teck Resources Ltd |
3.750 | 02/01/23 | 145,640 | ||||||||||||
| 25,000 |
Teck Resources Ltd |
6.000 | 08/15/40 | 26,434 | ||||||||||||
| 25,000 |
Teck Resources Ltd |
5.200 | 03/01/42 | 24,077 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL MATERIALS |
4,314,958 | |||||||||||||||
|
|
|
|||||||||||||||
| MEDIA - 2.0% |
||||||||||||||||
| 100,000 |
AMC Entertainment, Inc |
5.875 | 02/15/22 | 104,000 | ||||||||||||
| 100,000 |
g | CBS Outdoor Americas Capital LLC |
5.250 | 02/15/22 | 102,750 | |||||||||||
| 100,000 |
Cinemark USA, Inc |
4.875 | 06/01/23 | 99,750 | ||||||||||||
| 475,000 |
Comcast Corp |
4.250 | 01/15/33 | 487,937 | ||||||||||||
| 175,000 |
DIRECTV Holdings LLC |
4.450 | 04/01/24 | 185,557 | ||||||||||||
| 175,000 |
DISH DBS Corp |
4.250 | 04/01/18 | 182,000 | ||||||||||||
| 200,000 |
Grupo Televisa SAB |
5.000 | 05/13/45 | 200,398 | ||||||||||||
| 100,000 |
Lamar Media Corp |
5.875 | 02/01/22 | 107,125 | ||||||||||||
| 100,000 |
g | NBC Universal Enterprise, Inc |
1.662 | 04/15/18 | 99,935 | |||||||||||
| 125,000 |
g | NBC Universal Enterprise, Inc |
1.974 | 04/15/19 | 123,948 | |||||||||||
| 500,000 |
News America, Inc |
3.000 | 09/15/22 | 492,255 | ||||||||||||
| 50,000 |
News America, Inc |
6.900 | 08/15/39 | 65,404 | ||||||||||||
| 50,000 |
g,h | Nielsen Finance LLC |
5.000 | 04/15/22 | 50,375 | |||||||||||
| 75,000 |
Time Warner Cable, Inc |
5.875 | 11/15/40 | 87,484 | ||||||||||||
| 100,000 |
Time Warner Cable, Inc |
4.500 | 09/15/42 | 97,348 | ||||||||||||
| 50,000 |
Time Warner, Inc |
3.150 | 07/15/15 | 51,379 | ||||||||||||
| 450,000 |
Time Warner, Inc |
2.100 | 06/01/19 | 447,710 | ||||||||||||
| 50,000 |
Time Warner, Inc |
6.500 | 11/15/36 | 61,185 | ||||||||||||
| 250,000 |
Time Warner, Inc |
4.900 | 06/15/42 | 254,604 | ||||||||||||
| 150,000 |
Time Warner, Inc |
4.650 | 06/01/44 | 147,147 | ||||||||||||
| 200,000 |
g | Univision Communications, Inc |
5.125 | 05/15/23 | 211,750 | |||||||||||
| 200,000 |
Viacom, Inc |
1.250 | 02/27/15 | 201,118 | ||||||||||||
| 115,000 |
Viacom, Inc |
2.500 | 12/15/16 | 118,537 | ||||||||||||
| 125,000 |
Viacom, Inc |
5.850 | 09/01/43 | 143,604 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL MEDIA |
4,123,300 | |||||||||||||||
|
|
|
|||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.1% |
||||||||||||||||
| 275,000 |
Amgen, Inc |
2.200 | 05/22/19 | 274,680 | ||||||||||||
| 170,000 |
g | Endo Finance LLC & Endo Finco, Inc |
7.000 | 07/15/19 | 181,687 | |||||||||||
| 275,000 |
Gilead Sciences, Inc |
3.700 | 04/01/24 | 282,178 | ||||||||||||
| 500,000 |
Gilead Sciences, Inc |
4.800 | 04/01/44 | 527,597 | ||||||||||||
| 65,000 |
Life Technologies Corp |
3.500 | 01/15/16 | 67,522 | ||||||||||||
| 50,000 |
Mead Johnson Nutrition Co |
5.900 | 11/01/39 | 59,748 | ||||||||||||
| 150,000 |
Mead Johnson Nutrition Co |
4.600 | 06/01/44 | 151,204 | ||||||||||||
95
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 75,000 |
Mylan, Inc |
2.550 | % | 03/28/19 | $ | 75,550 | ||||||||||
| 172,000 |
g | Mylan, Inc |
7.875 | 07/15/20 | 190,380 | |||||||||||
| 150,000 |
NBTY, Inc |
9.000 | 10/01/18 | 158,625 | ||||||||||||
| 100,000 |
g | Perrigo Co Ltd |
4.000 | 11/15/23 | 101,637 | |||||||||||
| 100,000 |
g | Perrigo Co Ltd |
5.300 | 11/15/43 | 107,276 | |||||||||||
| 100,000 |
g | Valeant Pharmaceuticals International, Inc |
6.375 | 10/15/20 | 106,250 | |||||||||||
| 100,000 |
g | Valeant Pharmaceuticals International, Inc |
5.625 | 12/01/21 | 102,875 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES |
2,387,209 | |||||||||||||||
|
|
|
|||||||||||||||
| REAL ESTATE - 1.1% |
||||||||||||||||
| 30,000 |
AMB Property LP |
4.500 | 08/15/17 | 32,489 | ||||||||||||
| 35,000 |
Camden Property Trust |
4.625 | 06/15/21 | 38,269 | ||||||||||||
| 100,000 |
Camden Property Trust |
2.950 | 12/15/22 | 96,675 | ||||||||||||
| 100,000 |
DCT Industrial Operating Partnership LP |
4.500 | 10/15/23 | 103,023 | ||||||||||||
| 100,000 |
Developers Diversified Realty Corp |
4.750 | 04/15/18 | 108,833 | ||||||||||||
| 40,000 |
Developers Diversified Realty Corp |
7.875 | 09/01/20 | 50,614 | ||||||||||||
| 100,000 |
Federal Realty Investment Trust |
3.000 | 08/01/22 | 98,894 | ||||||||||||
| 100,000 |
Federal Realty Investment Trust |
2.750 | 06/01/23 | 95,737 | ||||||||||||
| 25,000 |
Healthcare Realty Trust, Inc |
5.750 | 01/15/21 | 28,273 | ||||||||||||
| 100,000 |
Healthcare Realty Trust, Inc |
3.750 | 04/15/23 | 97,681 | ||||||||||||
| 100,000 |
Healthcare Trust of America Holdings LP |
3.700 | 04/15/23 | 97,171 | ||||||||||||
| 205,000 |
Highwoods Realty LP |
3.200 | 06/15/21 | 202,567 | ||||||||||||
| 225,000 |
Kilroy Realty LP |
3.800 | 01/15/23 | 226,982 | ||||||||||||
| 100,000 |
Mid-America Apartments LP |
4.300 | 10/15/23 | 104,680 | ||||||||||||
| 125,000 |
Mid-America Apartments LP |
3.750 | 06/15/24 | 124,525 | ||||||||||||
| 50,000 |
National Retail Properties, Inc |
5.500 | 07/15/21 | 57,010 | ||||||||||||
| 100,000 |
National Retail Properties, Inc |
3.300 | 04/15/23 | 97,049 | ||||||||||||
| 25,000 |
Simon Property Group LP |
5.250 | 12/01/16 | 27,307 | ||||||||||||
| 100,000 |
Simon Property Group LP |
2.800 | 01/30/17 | 104,238 | ||||||||||||
| 40,000 |
Simon Property Group LP |
10.350 | 04/01/19 | 54,194 | ||||||||||||
| 200,000 |
g | Trust F |
5.250 | 12/15/24 | 210,000 | |||||||||||
| 15,000 |
Ventas Realty LP |
3.125 | 11/30/15 | 15,482 | ||||||||||||
| 50,000 |
Ventas Realty LP |
3.750 | 05/01/24 | 49,932 | ||||||||||||
| 50,000 |
Weingarten Realty Investors |
3.375 | 10/15/22 | 49,003 | ||||||||||||
| 100,000 |
Weingarten Realty Investors |
3.500 | 04/15/23 | 97,949 | ||||||||||||
| 100,000 |
Weingarten Realty Investors |
4.450 | 01/15/24 | 104,599 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL REAL ESTATE |
2,373,176 | |||||||||||||||
|
|
|
|||||||||||||||
| RETAILING - 1.3% |
||||||||||||||||
| 125,000 |
Home Depot, Inc |
2.250 | 09/10/18 | 127,916 | ||||||||||||
| 275,000 |
Home Depot, Inc |
2.000 | 06/15/19 | 275,191 | ||||||||||||
| 132,000 |
Limited Brands, Inc |
6.625 | 04/01/21 | 149,985 | ||||||||||||
| 205,000 |
Limited Brands, Inc |
5.625 | 02/15/22 | 221,912 | ||||||||||||
| 125,000 |
Macy’s Retail Holdings, Inc |
2.875 | 02/15/23 | 119,986 | ||||||||||||
| 70,000 |
g | Men’s Wearhouse, Inc |
7.000 | 07/01/22 | 72,450 | |||||||||||
| 35,000 |
O’Reilly Automotive, Inc |
4.625 | 09/15/21 | 37,823 | ||||||||||||
| 725,000 |
O’Reilly Automotive, Inc |
3.800 | 09/01/22 | 741,626 | ||||||||||||
| 100,000 |
g | QVC, Inc |
7.500 | 10/01/19 | 105,107 | |||||||||||
| 510,000 |
g | QVC, Inc |
7.375 | 10/15/20 | 547,449 | |||||||||||
| 100,000 |
QVC, Inc |
5.125 | 07/02/22 | 106,466 | ||||||||||||
| 100,000 |
Sally Holdings LLC |
5.750 | 06/01/22 | 106,500 | ||||||||||||
| 100,000 |
Sonic Automotive, Inc |
5.000 | 05/15/23 | 98,250 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL RETAILING |
2,710,661 | |||||||||||||||
|
|
|
|||||||||||||||
| SOFTWARE & SERVICES - 1.2% |
||||||||||||||||
| 100,000 |
g | Activision Blizzard, Inc |
5.625 | 09/15/21 | 107,750 | |||||||||||
| 200,000 |
Baidu, Inc |
2.750 | 06/09/19 | 200,779 | ||||||||||||
| 95,000 |
g | Ceridian LLC |
8.125 | 11/15/17 | 95,950 | |||||||||||
| 100,000 |
Equinix, Inc |
4.875 | 04/01/20 | 102,500 | ||||||||||||
| 1,170,000 |
Fidelity National Information Services, Inc |
5.000 | 03/15/22 | 1,230,019 | ||||||||||||
| 100,000 |
g | NCR Escrow Corp |
5.875 | 12/15/21 | 105,500 | |||||||||||
| 50,000 |
Oracle Corp |
3.750 | 07/08/14 | 50,025 | ||||||||||||
96
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $300,000 |
h | Oracle Corp |
3.400 | % | 07/08/24 | $ | 299,319 | |||||||||
| 175,000 |
h | Oracle Corp |
4.300 | 07/08/34 | 174,930 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL SOFTWARE & SERVICES |
2,366,772 | |||||||||||||||
|
|
|
|||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 1.2% |
||||||||||||||||
| 50,000 |
Amphenol Corp |
4.750 | 11/15/14 | 50,769 | ||||||||||||
| 100,000 |
CC Holdings GS V LLC |
2.381 | 12/15/17 | 101,835 | ||||||||||||
| 175,000 |
Cisco Systems, Inc |
2.125 | 03/01/19 | 176,360 | ||||||||||||
| 82,000 |
Flextronics International Ltd |
4.625 | 02/15/20 | 84,255 | ||||||||||||
| 500,000 |
General Electric Co |
0.850 | 10/09/15 | 502,480 | ||||||||||||
| 250,000 |
General Electric Co |
2.700 | 10/09/22 | 245,510 | ||||||||||||
| 100,000 |
General Electric Co |
4.125 | 10/09/42 | 98,765 | ||||||||||||
| 175,000 |
General Electric Co |
4.500 | 03/11/44 | 182,339 | ||||||||||||
| 200,000 |
Hewlett-Packard Co |
2.750 | 01/14/19 | 205,072 | ||||||||||||
| 100,000 |
Hewlett-Packard Co |
3.750 | 12/01/20 | 104,525 | ||||||||||||
| 100,000 |
L-3 Communications Corp |
4.950 | 02/15/21 | 110,823 | ||||||||||||
| 68,000 |
Nokia Oyj |
5.375 | 05/15/19 | 73,270 | ||||||||||||
| 150,000 |
g | NXP BV |
3.750 | 06/01/18 | 150,375 | |||||||||||
| 100,000 |
Tyco Electronics Group S.A. |
2.375 | 12/17/18 | 100,783 | ||||||||||||
| 200,000 |
Xerox Corp |
2.800 | 05/15/20 | 199,676 | ||||||||||||
| 50,000 |
Xerox Corp |
4.500 | 05/15/21 | 54,022 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT |
2,440,859 | |||||||||||||||
|
|
|
|||||||||||||||
| TELECOMMUNICATION SERVICES - 3.4% |
||||||||||||||||
| 300,000 |
American Tower Corp |
3.500 | 01/31/23 | 294,192 | ||||||||||||
| 125,000 |
AT&T, Inc |
1.400 | 12/01/17 | 124,476 | ||||||||||||
| 150,000 |
AT&T, Inc |
2.625 | 12/01/22 | 143,724 | ||||||||||||
| 200,000 |
AT&T, Inc |
4.800 | 06/15/44 | 204,172 | ||||||||||||
| 200,000 |
g | Bharti Airtel International Netherlands BV |
5.350 | 05/20/24 | 207,510 | |||||||||||
| 100,000 |
CenturyLink, Inc |
6.750 | 12/01/23 | 109,250 | ||||||||||||
| 75,000 |
g | CommScope Holding Co, Inc |
5.000 | 06/15/21 | 76,500 | |||||||||||
| 75,000 |
g | CommScope Holding Co, Inc |
5.500 | 06/15/24 | 76,219 | |||||||||||
| 100,000 |
Deutsche Telekom International Finance BV |
8.750 | 06/15/30 | 146,249 | ||||||||||||
| 75,000 |
g | Deutsche Telekom International Finance BV |
4.875 | 03/06/42 | 78,450 | |||||||||||
| 200,000 |
g | ENTEL Chile S.A. |
4.875 | 10/30/24 | 208,268 | |||||||||||
| 125,000 |
Intelsat Jackson Holdings S.A. |
5.500 | 08/01/23 | 124,375 | ||||||||||||
| 100,000 |
Intelsat Luxembourg S.A. |
8.125 | 06/01/23 | 108,125 | ||||||||||||
| 50,000 |
Orange S.A. |
5.500 | 02/06/44 | 55,841 | ||||||||||||
| 100,000 |
g | SES |
3.600 | 04/04/23 | 101,117 | |||||||||||
| 100,000 |
g | SES Global Americas Holdings GP |
2.500 | 03/25/19 | 100,712 | |||||||||||
| 100,000 |
g | Sprint Corp |
7.250 | 09/15/21 | 110,250 | |||||||||||
| 150,000 |
Telefonica Emisiones SAU |
3.992 | 02/16/16 | 157,050 | ||||||||||||
| 200,000 |
Telefonica Emisiones SAU |
4.570 | 04/27/23 | 212,422 | ||||||||||||
| 100,000 |
Telefonos de Mexico SAB de C.V. |
5.500 | 11/15/19 | 114,679 | ||||||||||||
| 100,000 |
T-Mobile USA, Inc |
6.731 | 04/28/22 | 107,875 | ||||||||||||
| 200,000 |
g | Turk Telekomunikasyon AS. |
3.750 | 06/19/19 | 197,680 | |||||||||||
| 600,000 |
Verizon Communications, Inc |
0.700 | 11/02/15 | 601,557 | ||||||||||||
| 625,000 |
Verizon Communications, Inc |
3.650 | 09/14/18 | 668,426 | ||||||||||||
| 400,000 |
Verizon Communications, Inc |
2.550 | 06/17/19 | 405,783 | ||||||||||||
| 675,000 |
Verizon Communications, Inc |
3.450 | 03/15/21 | 697,548 | ||||||||||||
| 375,000 |
Verizon Communications, Inc |
5.150 | 09/15/23 | 419,660 | ||||||||||||
| 400,000 |
Verizon Communications, Inc |
4.150 | 03/15/24 | 417,661 | ||||||||||||
| 425,000 |
Verizon Communications, Inc |
6.550 | 09/15/43 | 534,837 | ||||||||||||
| 200,000 |
g | VimpelCom Holdings BV |
5.950 | 02/13/23 | 197,250 | |||||||||||
| 100,000 |
Windstream Corp |
6.375 | 08/01/23 | 101,375 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL TELECOMMUNICATION SERVICES |
7,103,233 | |||||||||||||||
|
|
|
|||||||||||||||
| TRANSPORTATION - 0.8% |
||||||||||||||||
| 165,000 |
g | Asciano Finance Ltd |
5.000 | 04/07/18 | 179,664 | |||||||||||
| 50,000 |
g | Bombardier, Inc |
4.750 | 04/15/19 | 50,875 | |||||||||||
| 100,000 |
g | Embraer Overseas Ltd |
5.696 | 09/16/23 | 108,130 | |||||||||||
| 100,000 |
g | ERAC USA Finance LLC |
3.300 | 10/15/22 | 98,979 | |||||||||||
| 100,000 |
g | ERAC USA Finance LLC |
5.625 | 03/15/42 | 113,122 | |||||||||||
97
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $221,000 |
GATX Corp |
1.250 | % | 03/04/17 | $ | 220,239 | ||||||||||
| 200,000 |
GATX Corp |
2.500 | 07/30/19 | 201,287 | ||||||||||||
| 200,000 |
GATX Corp |
5.200 | 03/15/44 | 213,141 | ||||||||||||
| 400,000 |
Kansas City Southern de Mexico S.A. de C.V. |
2.350 | 05/15/20 | 383,181 | ||||||||||||
| 100,000 |
United Parcel Service, Inc |
3.125 | 01/15/21 | 104,261 | ||||||||||||
| 100,000 |
United Parcel Service, Inc |
3.625 | 10/01/42 | 92,254 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL TRANSPORTATION |
1,765,133 | |||||||||||||||
|
|
|
|||||||||||||||
| UTILITIES - 3.7% |
||||||||||||||||
| 25,000 |
i | AES Corp |
3.229 | 06/01/19 | 25,187 | |||||||||||
| 100,000 |
AES Corp |
7.375 | 07/01/21 | 117,000 | ||||||||||||
| 100,000 |
AES Corp |
4.875 | 05/15/23 | 99,000 | ||||||||||||
| 100,000 |
AGL Capital Corp |
4.400 | 06/01/43 | 102,129 | ||||||||||||
| 100,000 |
Alabama Power Co |
3.550 | 12/01/23 | 103,597 | ||||||||||||
| 75,000 |
Alliant Energy Corp |
4.000 | 10/15/14 | 75,810 | ||||||||||||
| 130,000 |
AmeriGas Partners LP |
6.250 | 08/20/19 | 138,775 | ||||||||||||
| 75,000 |
Atmos Energy Corp |
8.500 | 03/15/19 | 95,920 | ||||||||||||
| 150,000 |
Atmos Energy Corp |
4.150 | 01/15/43 | 149,011 | ||||||||||||
| 100,000 |
Berkshire Hathaway Energy Co |
5.150 | 11/15/43 | 112,119 | ||||||||||||
| 200,000 |
Black Hills Corp |
4.250 | 11/30/23 | 211,832 | ||||||||||||
| 155,000 |
g | Calpine Corp |
7.500 | 02/15/21 | 168,175 | |||||||||||
| 200,000 |
Capital Auto Receivables Asset Trust 2013-3 |
1.040 | 11/21/16 | 200,969 | ||||||||||||
| 200,000 |
Carolina Power & Light Co |
5.300 | 01/15/19 | 228,766 | ||||||||||||
| 100,000 |
CMS Energy Corp |
4.700 | 03/31/43 | 102,066 | ||||||||||||
| 200,000 |
g | Comision Federal de Electricidad |
4.875 | 01/15/24 | 213,500 | |||||||||||
| 150,000 |
Commonwealth Edison Co |
4.000 | 08/01/20 | 161,916 | ||||||||||||
| 25,000 |
Connecticut Light & Power Co |
5.500 | 02/01/19 | 28,541 | ||||||||||||
| 200,000 |
Connecticut Light & Power Co |
4.300 | 04/15/44 | 204,068 | ||||||||||||
| 150,000 |
Consolidated Edison Co of New York, Inc |
3.950 | 03/01/43 | 143,062 | ||||||||||||
| 15,000 |
Duke Energy Carolinas LLC |
4.300 | 06/15/20 | 16,572 | ||||||||||||
| 75,000 |
Duke Energy Ohio, Inc |
3.800 | 09/01/23 | 79,181 | ||||||||||||
| 150,000 |
g,i | Electricite de France |
5.625 | 12/30/49 | 156,795 | |||||||||||
| 25,000 |
Empresa Nacional de Electricidad S.A. |
4.250 | 04/15/24 | 25,139 | ||||||||||||
| 200,000 |
g | Eskom Holdings Ltd |
5.750 | 01/26/21 | 204,750 | |||||||||||
| 50,000 |
g | Ferrellgas LP |
6.750 | 01/15/22 | 52,250 | |||||||||||
| 150,000 |
g | FirstEnergy Transmission LLC |
4.350 | 01/15/25 | 151,548 | |||||||||||
| 175,000 |
Florida Power & Light Co |
2.750 | 06/01/23 | 172,191 | ||||||||||||
| 75,000 |
g,h | Gates Global LLC |
6.000 | 07/15/22 | 75,000 | |||||||||||
| 200,000 |
g | Hrvatska Elektroprivreda |
6.000 | 11/09/17 | 211,750 | |||||||||||
| 50,000 |
Indiana Michigan Power Co |
7.000 | 03/15/19 | 60,740 | ||||||||||||
| 25,000 |
Integrys Energy Group, Inc |
4.170 | 11/01/20 | 26,321 | ||||||||||||
| 300,000 |
g | Israel Electric Corp Ltd |
7.250 | 01/15/19 | 340,875 | |||||||||||
| 100,000 |
LG&E and KU Energy LLC |
3.750 | 11/15/20 | 105,806 | ||||||||||||
| 50,000 |
NiSource Finance Corp |
4.800 | 02/15/44 | 50,550 | ||||||||||||
| 100,000 |
Northeast Utilities |
1.450 | 05/01/18 | 98,200 | ||||||||||||
| 200,000 |
g | NRG Energy, Inc |
6.250 | 05/01/24 | 209,000 | |||||||||||
| 250,000 |
NSTAR Electric Co |
4.400 | 03/01/44 | 259,302 | ||||||||||||
| 200,000 |
NTPC Ltd |
5.625 | 07/14/21 | 215,172 | ||||||||||||
| 120,000 |
g | Numericable Group S.A. |
6.000 | 05/15/22 | 124,800 | |||||||||||
| 60,000 |
g | Numericable Group S.A. |
6.250 | 05/15/24 | 62,625 | |||||||||||
| 125,000 |
g | Oncor Electric Delivery Co LLC |
2.150 | 06/01/19 | 125,116 | |||||||||||
| 150,000 |
ONEOK Partners LP |
3.375 | 10/01/22 | 149,023 | ||||||||||||
| 175,000 |
Pacific Gas & Electric Co |
3.850 | 11/15/23 | 182,180 | ||||||||||||
| 125,000 |
PacifiCorp |
2.950 | 02/01/22 | 126,647 | ||||||||||||
| 75,000 |
Pepco Holdings, Inc |
2.700 | 10/01/15 | 76,478 | ||||||||||||
| 300,000 |
PPL Capital Funding, Inc |
4.200 | 06/15/22 | 320,777 | ||||||||||||
| 250,000 |
PPL Electric Utilities Corp |
3.000 | 09/15/21 | 254,938 | ||||||||||||
| 50,000 |
Progress Energy, Inc |
7.050 | 03/15/19 | 61,027 | ||||||||||||
| 75,000 |
Public Service Co of Colorado |
3.200 | 11/15/20 | 77,492 | ||||||||||||
| 80,000 |
Public Service Co of Colorado |
4.750 | 08/15/41 | 88,046 | ||||||||||||
| 100,000 |
Public Service Co of Oklahoma |
5.150 | 12/01/19 | 112,800 | ||||||||||||
| 175,000 |
Public Service Electric & Gas Co |
2.375 | 05/15/23 | 166,195 | ||||||||||||
| 32,000 |
Questar Market Resources, Inc |
6.875 | 03/01/21 | 35,920 | ||||||||||||
| 75,000 |
San Diego Gas & Electric Co |
3.000 | 08/15/21 | 76,662 | ||||||||||||
98
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $100,000 |
Sempra Energy |
3.550 | % | 06/15/24 | $ | 100,700 | ||||||||||
| 100,000 |
Tampa Electric Co |
4.100 | 06/15/42 | 97,563 | ||||||||||||
| 55,000 |
Virginia Electric and Power Co |
2.950 | 01/15/22 | 55,609 | ||||||||||||
| 50,000 |
Williams Partners LP |
3.800 | 02/15/15 | 50,962 | ||||||||||||
| 75,000 |
Williams Partners LP |
4.000 | 11/15/21 | 78,426 | ||||||||||||
| 100,000 |
Williams Partners LP |
4.500 | 11/15/23 | 106,069 | ||||||||||||
| 75,000 |
Williams Partners LP |
4.900 | 01/15/45 | 74,764 | ||||||||||||
| 50,000 |
Xcel Energy, Inc |
4.800 | 09/15/41 | 53,818 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL UTILITIES |
7,851,222 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL CORPORATE BONDS (Cost $78,977,549) |
81,517,830 | |||||||||||||||
|
|
|
|||||||||||||||
| GOVERNMENT BONDS - 39.8% |
||||||||||||||||
| AGENCY SECURITIES - 0.1% |
||||||||||||||||
| 171,875 |
Totem Ocean Trailer Express, Inc |
4.514 | 12/18/19 | 179,964 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL AGENCY SECURITIES |
179,964 | |||||||||||||||
|
|
|
|||||||||||||||
| FOREIGN GOVERNMENT BONDS - 2.5% |
||||||||||||||||
| 100,000 |
Brazilian Government International Bond |
2.625 | 01/05/23 | 92,350 | ||||||||||||
| 25,000 |
Brazilian Government International Bond |
7.125 | 01/20/37 | 31,625 | ||||||||||||
| 100,000 |
g | Caisse d’Amortissement de la Dette Sociale |
3.375 | 03/20/24 | 103,674 | |||||||||||
| 150,000 |
Canada Government International Bond |
2.375 | 09/10/14 | 150,561 | ||||||||||||
| 250,000 |
Canada Government International Bond |
0.875 | 02/14/17 | 250,600 | ||||||||||||
| 200,000 |
Colombia Government International Bond |
2.625 | 03/15/23 | 187,000 | ||||||||||||
| 200,000 |
Colombia Government International Bond |
4.000 | 02/26/24 | 206,200 | ||||||||||||
| 200,000 |
g | Croatia Government International Bond |
6.250 | 04/27/17 | 216,624 | |||||||||||
| 100,000 |
European Investment Bank |
4.875 | 02/15/36 | 119,706 | ||||||||||||
| 200,000 |
Export-Import Bank of Korea |
1.250 | 11/20/15 | 201,033 | ||||||||||||
| 200,000 |
Export-Import Bank of Korea |
1.750 | 02/27/18 | 198,689 | ||||||||||||
| 175,000 |
Federative Republic of Brazil |
6.000 | 01/17/17 | 194,600 | ||||||||||||
| 330,000 |
g | Hellenic Republic Government Bond |
4.750 | 04/17/19 | 461,684 | |||||||||||
| 100,000 |
Hungary Government International Bond |
5.375 | 03/25/24 | 107,000 | ||||||||||||
| 35,000 |
Italy Government International Bond |
6.875 | 09/27/23 | 44,546 | ||||||||||||
| 200,000 |
g | Kenya Government International Bond |
5.875 | 06/24/19 | 204,100 | |||||||||||
| 200,000 |
g,i | Kommunalbanken AS. |
0.409 | 02/20/18 | 200,286 | |||||||||||
| 250,000 |
g | Korea Housing Finance Corp |
1.625 | 09/15/18 | 243,411 | |||||||||||
| 200,000 |
g | Namibia International Bonds |
5.500 | 11/03/21 | 214,246 | |||||||||||
| 100,000 |
Panama Government International Bond |
5.200 | 01/30/20 | 111,600 | ||||||||||||
| 25,000 |
Peruvian Government International Bond |
7.350 | 07/21/25 | 33,125 | ||||||||||||
| 200,000 |
Philippine Government International Bond |
4.200 | 01/21/24 | 211,250 | ||||||||||||
| 195,000 |
Poland Government International Bond |
3.000 | 03/17/23 | 189,443 | ||||||||||||
| 300,000 |
Province of Ontario Canada |
2.950 | 02/05/15 | 304,858 | ||||||||||||
| 200,000 |
g | Republic of Azerbaijan International Bond |
4.750 | 03/18/24 | 206,000 | |||||||||||
| 200,000 |
g | Republic of Trinidad & Tobago |
4.375 | 01/16/24 | 217,000 | |||||||||||
| 2,952,000 |
South Africa Government Bond |
8.250 | 09/15/17 | 284,838 | ||||||||||||
| 100,000 |
Turkey Government International Bond |
5.625 | 03/30/21 | 109,000 | ||||||||||||
| 200,000 |
Turkey Government International Bond |
5.750 | 03/22/24 | 218,500 | ||||||||||||
| 100,000 |
United Mexican States |
5.125 | 01/15/20 | 113,300 | ||||||||||||
| 53,000 |
Uruguay Government International Bond |
4.500 | 08/14/24 | 56,233 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL FOREIGN GOVERNMENT BONDS |
5,483,082 | |||||||||||||||
|
|
|
|||||||||||||||
| MORTGAGE BACKED - 19.7% |
||||||||||||||||
| 26,316 |
i | Federal Home Loan Mortgage Corp (FHLMC) |
2.380 | 02/01/36 | 28,140 | |||||||||||
| 90,140 |
i | FHLMC |
2.375 | 07/01/36 | 96,183 | |||||||||||
| 72,515 |
i | FHLMC |
2.260 | 09/01/36 | 77,196 | |||||||||||
| 21,393 |
i | FHLMC |
2.367 | 09/01/36 | 22,659 | |||||||||||
| 25,868 |
i | FHLMC |
2.371 | 09/01/36 | 27,385 | |||||||||||
| 55,585 |
i | FHLMC |
2.454 | 03/01/37 | 59,254 | |||||||||||
| 53,335 |
i | FHLMC |
6.010 | 04/01/37 | 57,227 | |||||||||||
| 4,417 |
i | FHLMC |
1.950 | 05/01/37 | 4,428 | |||||||||||
| 99,130 |
Federal Home Loan Mortgage Corp Gold (FGLMC) |
5.000 | 02/01/19 | 105,998 | ||||||||||||
| 9,260 |
FGLMC |
4.500 | 01/01/20 | 9,822 | ||||||||||||
99
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 44,132 |
FGLMC |
4.500 | % | 07/01/20 | $ | 47,667 | ||||||||||
| 9,598 |
FGLMC |
5.000 | 04/01/23 | 10,371 | ||||||||||||
| 33,227 |
FGLMC |
4.000 | 07/01/24 | 35,355 | ||||||||||||
| 11,811 |
FGLMC |
4.500 | 09/01/24 | 12,722 | ||||||||||||
| 1,720 |
FGLMC |
6.000 | 03/01/33 | 1,931 | ||||||||||||
| 116,486 |
FGLMC |
5.000 | 11/01/33 | 131,644 | ||||||||||||
| 184,927 |
FGLMC |
6.000 | 11/01/33 | 208,832 | ||||||||||||
| 28,812 |
FGLMC |
5.000 | 05/01/34 | 32,005 | ||||||||||||
| 21,814 |
FGLMC |
6.000 | 09/01/34 | 24,832 | ||||||||||||
| 15,314 |
FGLMC |
6.000 | 04/01/35 | 17,205 | ||||||||||||
| 8,493 |
FGLMC |
5.000 | 02/01/36 | 9,418 | ||||||||||||
| 1,347 |
FGLMC |
6.500 | 05/01/36 | 1,518 | ||||||||||||
| 71,398 |
FGLMC |
6.000 | 08/01/37 | 80,694 | ||||||||||||
| 20,278 |
FGLMC |
6.500 | 09/01/37 | 22,850 | ||||||||||||
| 15,309 |
FGLMC |
6.500 | 11/01/37 | 17,251 | ||||||||||||
| 48,585 |
FGLMC |
5.000 | 04/01/38 | 54,297 | ||||||||||||
| 11,110 |
FGLMC |
6.500 | 05/01/38 | 12,519 | ||||||||||||
| 696,896 |
FGLMC |
5.000 | 09/01/38 | 771,219 | ||||||||||||
| 11,969 |
FGLMC |
5.500 | 01/01/39 | 13,342 | ||||||||||||
| 38,261 |
FGLMC |
5.000 | 07/01/39 | 42,341 | ||||||||||||
| 562,446 |
FGLMC |
4.500 | 12/01/39 | 614,247 | ||||||||||||
| 72,053 |
FGLMC |
5.000 | 01/01/40 | 79,738 | ||||||||||||
| 346,135 |
FGLMC |
4.500 | 07/01/40 | 378,263 | ||||||||||||
| 388,739 |
Federal National Mortgage Association (FNMA) |
4.960 | 01/01/15 | 388,746 | ||||||||||||
| 22,154 |
FNMA |
5.500 | 04/01/18 | 23,557 | ||||||||||||
| 20,182 |
FNMA |
5.500 | 05/01/18 | 21,437 | ||||||||||||
| 74,127 |
FNMA |
4.000 | 02/25/19 | 77,509 | ||||||||||||
| 19,650 |
FNMA |
4.500 | 03/01/19 | 20,869 | ||||||||||||
| 8,934 |
FNMA |
4.500 | 06/01/19 | 9,490 | ||||||||||||
| 99,594 |
FNMA |
5.500 | 07/01/20 | 108,101 | ||||||||||||
| 4,661 |
FNMA |
4.500 | 11/01/20 | 4,950 | ||||||||||||
| 36,223 |
FNMA |
4.500 | 12/01/20 | 38,962 | ||||||||||||
| 9,604 |
FNMA |
5.000 | 12/01/20 | 10,364 | ||||||||||||
| 146,542 |
FNMA |
6.000 | 08/01/21 | 160,056 | ||||||||||||
| 105,649 |
FNMA |
2.500 | 03/01/23 | 109,167 | ||||||||||||
| 8,667 |
FNMA |
4.500 | 03/01/23 | 9,240 | ||||||||||||
| 34,738 |
FNMA |
5.000 | 04/01/23 | 37,543 | ||||||||||||
| 15,241 |
FNMA |
4.500 | 06/01/23 | 16,243 | ||||||||||||
| 9,072 |
FNMA |
5.000 | 07/01/23 | 9,812 | ||||||||||||
| 23,563 |
FNMA |
5.000 | 07/01/23 | 25,694 | ||||||||||||
| 23,713 |
FNMA |
4.500 | 04/01/24 | 25,183 | ||||||||||||
| 18,439 |
FNMA |
4.000 | 05/01/24 | 19,717 | ||||||||||||
| 3,564 |
FNMA |
5.500 | 09/01/24 | 3,999 | ||||||||||||
| 131,165 |
FNMA |
4.000 | 02/01/25 | 140,238 | ||||||||||||
| 248,987 |
FNMA |
3.500 | 01/01/26 | 264,232 | ||||||||||||
| 363,595 |
FNMA |
2.500 | 01/01/27 | 369,851 | ||||||||||||
| 192,788 |
FNMA |
3.000 | 01/01/27 | 200,507 | ||||||||||||
| 488,311 |
FNMA |
3.000 | 01/01/27 | 507,864 | ||||||||||||
| 1,103,312 |
FNMA |
2.500 | 10/01/27 | 1,122,300 | ||||||||||||
| 877,148 |
FNMA |
3.000 | 03/01/28 | 912,562 | ||||||||||||
| 441,179 |
FNMA |
2.500 | 04/01/28 | 448,735 | ||||||||||||
| 434,084 |
FNMA |
3.500 | 06/01/32 | 455,159 | ||||||||||||
| 20,393 |
FNMA |
6.500 | 07/01/32 | 23,233 | ||||||||||||
| 512,957 |
FNMA |
5.500 | 03/01/34 | 576,974 | ||||||||||||
| 27,252 |
FNMA |
6.500 | 02/01/35 | 30,810 | ||||||||||||
| 11,831 |
FNMA |
7.500 | 06/01/35 | 12,934 | ||||||||||||
| 16,983 |
FNMA |
7.500 | 07/01/35 | 17,769 | ||||||||||||
| 57,491 |
i | FNMA |
2.379 | 07/01/36 | 62,179 | |||||||||||
| 10,744 |
FNMA |
6.500 | 09/01/36 | 12,114 | ||||||||||||
| 22,823 |
FNMA |
7.000 | 02/01/37 | 25,899 | ||||||||||||
| 39,578 |
FNMA |
7.000 | 04/01/37 | 42,770 | ||||||||||||
| 6,275 |
FNMA |
6.500 | 08/01/37 | 7,075 | ||||||||||||
| 7,698 |
FNMA |
7.000 | 11/01/37 | 8,806 | ||||||||||||
| 1,196 |
FNMA |
6.500 | 02/01/38 | 1,349 | ||||||||||||
| 3,640 |
FNMA |
6.500 | 03/01/38 | 4,105 | ||||||||||||
100
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 190,090 |
FNMA |
6.500 | % | 07/01/39 | $ | 222,147 | ||||||||||
| 151,556 |
FNMA |
5.000 | 03/01/40 | 170,286 | ||||||||||||
| 1,691,717 |
FNMA |
5.500 | 07/01/40 | 1,896,095 | ||||||||||||
| 838,523 |
FNMA |
6.000 | 10/01/40 | 946,164 | ||||||||||||
| 1,249,811 |
FNMA |
5.000 | 11/01/40 | 1,388,792 | ||||||||||||
| 759,445 |
FNMA |
4.000 | 12/01/40 | 807,847 | ||||||||||||
| 254,265 |
FNMA |
5.000 | 02/01/41 | 288,345 | ||||||||||||
| 1,084,703 |
FNMA |
3.000 | 04/01/42 | 1,072,824 | ||||||||||||
| 928,928 |
FNMA |
4.000 | 05/01/42 | 991,320 | ||||||||||||
| 1,819,860 |
FNMA |
3.500 | 06/01/42 | 1,876,247 | ||||||||||||
| 428,174 |
FNMA |
3.000 | 07/01/42 | 424,930 | ||||||||||||
| 361,365 |
FNMA |
3.000 | 11/01/42 | 357,408 | ||||||||||||
| 1,780,478 |
FNMA |
3.000 | 12/01/42 | 1,765,331 | ||||||||||||
| 1,997,820 |
FNMA |
3.500 | 01/01/43 | 2,059,722 | ||||||||||||
| 497,394 |
h | FNMA |
3.000 | 07/01/43 | 491,947 | |||||||||||
| 949,599 |
FNMA |
3.500 | 07/01/43 | 979,022 | ||||||||||||
| 775,961 |
FNMA |
3.000 | 08/01/43 | 767,463 | ||||||||||||
| 2,700,407 |
h | FNMA |
4.000 | 11/01/43 | 2,871,061 | |||||||||||
| 2,279,264 |
FNMA |
4.500 | 03/01/44 | 2,478,281 | ||||||||||||
| 597,419 |
FNMA |
4.000 | 05/01/44 | 634,917 | ||||||||||||
| 599,135 |
FNMA |
3.500 | 06/01/44 | 617,699 | ||||||||||||
| 12,485 |
Government National Mortgage Association (GNMA) |
5.500 | 07/15/33 | 14,054 | ||||||||||||
| 97,533 |
GNMA |
5.500 | 07/20/33 | 109,845 | ||||||||||||
| 13,611 |
GNMA |
5.000 | 03/15/34 | 14,970 | ||||||||||||
| 131,259 |
GNMA |
5.000 | 06/15/34 | 146,104 | ||||||||||||
| 65,610 |
GNMA |
5.500 | 02/15/37 | 73,592 | ||||||||||||
| 34,297 |
GNMA |
5.000 | 01/15/38 | 37,724 | ||||||||||||
| 17,815 |
GNMA |
5.000 | 04/15/38 | 19,583 | ||||||||||||
| 50,730 |
GNMA |
5.500 | 05/15/38 | 56,668 | ||||||||||||
| 10,816 |
GNMA |
6.000 | 08/15/38 | 12,158 | ||||||||||||
| 9,957 |
GNMA |
6.000 | 08/20/38 | 11,327 | ||||||||||||
| 185,567 |
GNMA |
5.500 | 07/15/39 | 207,362 | ||||||||||||
| 24,450 |
GNMA |
5.000 | 07/20/39 | 27,167 | ||||||||||||
| 78,167 |
GNMA |
4.500 | 04/15/40 | 85,423 | ||||||||||||
| 59,688 |
GNMA |
5.000 | 04/15/40 | 65,656 | ||||||||||||
| 197,346 |
GNMA |
5.000 | 04/15/40 | 217,819 | ||||||||||||
| 249,689 |
GNMA |
5.000 | 05/20/40 | 277,352 | ||||||||||||
| 195,063 |
GNMA |
5.000 | 06/15/40 | 215,200 | ||||||||||||
| 360,612 |
GNMA |
4.000 | 07/15/40 | 385,815 | ||||||||||||
| 749,562 |
GNMA |
4.000 | 09/15/41 | 801,948 | ||||||||||||
| 362,740 |
GNMA |
3.500 | 12/20/41 | 378,551 | ||||||||||||
| 900,501 |
GNMA |
3.000 | 09/15/42 | 909,061 | ||||||||||||
| 1,805,745 |
GNMA |
3.500 | 11/15/42 | 1,881,631 | ||||||||||||
| 941,142 |
GNMA |
3.000 | 02/20/43 | 952,153 | ||||||||||||
| 1,641,070 |
GNMA |
4.500 | 06/20/44 | 1,795,085 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL MORTGAGE BACKED |
41,280,753 | |||||||||||||||
|
|
|
|||||||||||||||
| MUNICIPAL BONDS - 1.0% |
||||||||||||||||
| 250,000 |
Florida Hurricane Catastrophe Fund Finance Corp |
1.298 | 07/01/16 | 252,190 | ||||||||||||
| 200,000 |
New York State Urban Development Corp |
1.350 | 03/15/18 | 198,476 | ||||||||||||
| 200,000 |
State of California |
0.850 | 02/01/15 | 200,450 | ||||||||||||
| 100,000 |
State of California |
5.450 | 04/01/15 | 103,750 | ||||||||||||
| 200,000 |
State of California |
1.050 | 02/01/16 | 201,442 | ||||||||||||
| 100,000 |
State of California |
5.950 | 04/01/16 | 109,159 | ||||||||||||
| 200,000 |
State of Illinois |
4.511 | 03/01/15 | 205,300 | ||||||||||||
| 590,000 |
State of Illinois |
3.860 | 04/01/21 | 598,142 | ||||||||||||
| 200,000 |
University of Massachusetts Building Authority |
0.770 | 11/01/16 | 198,190 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL MUNICIPAL BONDS |
2,067,099 | |||||||||||||||
|
|
|
|||||||||||||||
| U.S. TREASURY SECURITIES - 16.5% |
||||||||||||||||
| 650,000 |
United States Treasury Bond |
4.500 | 02/15/36 | 789,445 | ||||||||||||
| 385,000 |
United States Treasury Bond |
2.875 | 05/15/43 | 351,794 | ||||||||||||
| 325,000 |
United States Treasury Bond |
3.625 | 02/15/44 | 342,976 | ||||||||||||
101
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $1,000,000 |
United States Treasury Note |
0.250 | % | 09/30/14 | $ | 1,000,469 | ||||||||||
| 524,000 |
United States Treasury Note |
0.125 | 12/31/14 | 524,102 | ||||||||||||
| 4,900,000 |
United States Treasury Note |
0.250 | 02/28/15 | 4,905,170 | ||||||||||||
| 2,115,000 |
United States Treasury Note |
0.250 | 05/31/15 | 2,117,644 | ||||||||||||
| 430,000 |
United States Treasury Note |
0.250 | 10/31/15 | 430,369 | ||||||||||||
| 7,464,000 |
United States Treasury Note |
0.375 | 11/15/15 | 7,480,913 | ||||||||||||
| 730,000 |
United States Treasury Note |
0.875 | 06/15/17 | 730,286 | ||||||||||||
| 520,000 |
United States Treasury Note |
0.875 | 01/31/18 | 515,003 | ||||||||||||
| 8,092,500 |
United States Treasury Note |
1.625 | 06/30/19 | 8,092,500 | ||||||||||||
| 1,000,000 |
United States Treasury Note |
2.375 | 12/31/20 | 1,021,562 | ||||||||||||
| 1,325,000 |
United States Treasury Note |
2.000 | 02/28/21 | 1,319,618 | ||||||||||||
| 1,000,000 |
United States Treasury Note |
2.250 | 03/31/21 | 1,010,781 | ||||||||||||
| 2,784,000 |
United States Treasury Note |
2.750 | 02/15/24 | 2,847,292 | ||||||||||||
| 1,032,000 |
United States Treasury Note |
2.500 | 05/15/24 | 1,030,549 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL U.S. TREASURY SECURITIES |
34,510,473 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL GOVERNMENT BONDS (Cost $82,857,085) |
83,521,371 | |||||||||||||||
|
|
|
|||||||||||||||
| STRUCTURED ASSETS - 17.2% |
||||||||||||||||
| ASSET BACKED - 8.8% |
||||||||||||||||
| 250,000 |
g | Ally Master Owner Trust |
4.250 | 04/15/17 | 255,776 | |||||||||||
| Series - 2010 2 (Class A) |
||||||||||||||||
| 250,000 |
g | Ally Master Owner Trust |
4.590 | 04/15/17 | 255,144 | |||||||||||
| Series - 2010 2 (Class B) |
||||||||||||||||
| 1,000,000 |
AmeriCredit Automobile Receivables Trust |
0.540 | 10/10/17 | 1,000,035 | ||||||||||||
| Series - 2014 2 (Class A2A) |
||||||||||||||||
| 1,500,000 |
AmeriCredit Automobile Receivables Trust |
1.930 | 08/08/18 | 1,524,329 | ||||||||||||
| Series - 2012 4 (Class C) |
||||||||||||||||
| 250,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
4.640 | 05/20/16 | 256,782 | |||||||||||
| Series - 2010 3A (Class A) |
||||||||||||||||
| 100,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
2.054 | 08/20/16 | 101,293 | |||||||||||
| Series - 2012 1A (Class A) |
||||||||||||||||
| 200,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
4.740 | 11/20/17 | 213,516 | |||||||||||
| Series - 2011 3A (Class B) |
||||||||||||||||
| 200,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
2.802 | 05/20/18 | 207,626 | |||||||||||
| Series - 2012 2A (Class A) |
||||||||||||||||
| 300,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
2.100 | 03/20/19 | 303,295 | |||||||||||
| Series - 2012 3A (Class A) |
||||||||||||||||
| 200,000 |
g | Avis Budget Rental Car Funding AESOP LLC |
3.040 | 03/20/19 | 204,854 | |||||||||||
| Series - 2012 3A (Class B) |
||||||||||||||||
| 32,458 |
i | Bear Stearns Asset Backed Securities Trust |
0.892 | 11/25/39 | 31,983 | |||||||||||
| Series - 2005 SD3 (Class 2A1) |
||||||||||||||||
| 194,462 |
g,m | Capital Automotive REIT |
4.700 | 07/15/42 | 200,600 | |||||||||||
| Series - 2012 1A (Class A) |
||||||||||||||||
| 128,564 |
Centex Home Equity |
5.540 | 01/25/32 | 128,420 | ||||||||||||
| Series - 2002 A (Class AF6) |
||||||||||||||||
| 175,000 |
g,i | DB/UBS Mortgage Trust |
5.730 | 11/10/46 | 199,873 | |||||||||||
| Series - 2011 LC1A (Class C) |
||||||||||||||||
| 1,449,375 |
g | Dominos Pizza Master Issuer LLC |
5.216 | 01/25/42 | 1,557,530 | |||||||||||
| Series - 2012 1A (Class A2) |
||||||||||||||||
| 23,822 |
g,i | Flagstar Home Equity Loan Trust |
5.781 | 01/25/35 | 23,770 | |||||||||||
| Series - 2007 1A (Class AF3) |
||||||||||||||||
| 75,000 |
Ford Credit Auto Owner Trust |
3.210 | 07/15/17 | 76,840 | ||||||||||||
| Series - 2011 A (Class D) |
||||||||||||||||
| 200,000 |
Ford Credit Auto Owner Trust |
2.930 | 10/15/18 | 206,951 | ||||||||||||
| Series - 2012 B (Class D) |
||||||||||||||||
| 200,000 |
Ford Credit Auto Owner Trust |
2.430 | 01/15/19 | 205,616 | ||||||||||||
| Series - 2012 C (Class D) |
||||||||||||||||
| 260,000 |
Ford Credit Auto Owner Trust |
1.860 | 08/15/19 | 258,797 | ||||||||||||
| Series - 2013 A (Class D) |
||||||||||||||||
| 700,000 |
Ford Credit Floorplan Master Owner Trust A |
1.140 | 06/15/17 | 702,829 | ||||||||||||
| Series - 2013 3 (Class B) |
||||||||||||||||
102
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $1,500,000 |
Ford Credit Floorplan Master Owner Trust A |
1.740 | % | 06/15/17 | $ | 1,509,102 | ||||||||||
| Series - 2013 3 (Class D) |
||||||||||||||||
| 1,000,000 |
g | GE Capital Credit Card Master Note Trust |
7.820 | 11/15/17 | 1,026,763 | |||||||||||
| Series - 2009 4 (Class C) |
||||||||||||||||
| 1,000,000 |
g | GE Capital Credit Card Master Note Trust |
5.750 | 03/15/18 | 1,032,575 | |||||||||||
| Series - 2010 1 (Class C) |
||||||||||||||||
| 100,000 |
g | Hertz Vehicle Financing LLC |
4.170 | 03/25/16 | 101,379 | |||||||||||
| Series - 2011 1A (Class B1) |
||||||||||||||||
| 250,000 |
g | Hertz Vehicle Financing LLC |
5.290 | 03/25/16 | 256,016 | |||||||||||
| Series - 2009 2A (Class A2) |
||||||||||||||||
| 400,000 |
g | Hertz Vehicle Financing LLC |
5.930 | 03/25/16 | 409,013 | |||||||||||
| Series - 0 2A (Class B2) |
||||||||||||||||
| 170,525 |
Lehman XS Trust |
6.500 | 06/25/46 | 133,956 | ||||||||||||
| Series - 2006 13 (Class 2A1) |
||||||||||||||||
| 250,000 |
g | Rental Car Finance Corp |
2.510 | 02/25/16 | 252,091 | |||||||||||
| Series - 2011 1A (Class A1) |
||||||||||||||||
| 11,607 |
i | Residential Asset Securities Corp |
0.797 | 04/25/35 | 11,605 | |||||||||||
| Series - 2005 KS3 (Class M3) |
||||||||||||||||
| 100,000 |
i | Residential Funding Mortgage Securities II, Inc |
6.060 | 02/25/36 | 106,016 | |||||||||||
| Series - 2006 HI1 (Class M2) |
||||||||||||||||
| 250,000 |
Santander Drive Auto Receivables Trust |
3.870 | 02/15/18 | 260,254 | ||||||||||||
| Series - 2012 2 (Class D) |
||||||||||||||||
| 2,000,000 |
Santander Drive Auto Receivables Trust 2014-3 |
0.540 | 08/15/17 | 2,000,022 | ||||||||||||
| Series - 2014 3 (Class A2A) |
||||||||||||||||
| 38,599 |
i | Securitized Asset Backed Receivables LLC |
0.452 | 10/25/35 | 37,850 | |||||||||||
| Series - 2006 OP1 (Class A2C) |
||||||||||||||||
| 68,793 |
g | Sierra Receivables Funding Co LLC |
3.350 | 04/20/26 | 70,733 | |||||||||||
| Series - 2011 1A (Class A) |
||||||||||||||||
| 73,492 |
g | Sierra Receivables Funding Co LLC |
4.250 | 05/20/28 | 75,684 | |||||||||||
| Series - 2011 2A (Class B) |
||||||||||||||||
| 68,436 |
g | Sierra Receivables Funding Co LLC |
3.420 | 03/20/29 | 70,036 | |||||||||||
| Series - 2012 2A (Class B) |
||||||||||||||||
| 115,421 |
g | Sierra Receivables Funding Co LLC |
1.590 | 11/20/29 | 115,918 | |||||||||||
| Series - 2013 1A (Class A) |
||||||||||||||||
| 184,673 |
g | Sierra Receivables Funding Co LLC |
2.390 | 11/20/29 | 186,161 | |||||||||||
| Series - 2013 1A (Class B) |
||||||||||||||||
| 415,000 |
g | SLM Student Loan Trust |
4.370 | 04/17/28 | 444,608 | |||||||||||
| Series - 2011 A (Class A2) |
||||||||||||||||
| 105,000 |
g | SLM Student Loan Trust |
3.740 | 02/15/29 | 110,938 | |||||||||||
| Series - 2011 B (Class A2) |
||||||||||||||||
| 400,000 |
g | SLM Student Loan Trust |
3.830 | 01/17/45 | 421,324 | |||||||||||
| Series - 2012 A (Class A2) |
||||||||||||||||
| 47,013 |
i | Soundview Home Equity Loan Trust |
0.452 | 11/25/35 | 46,514 | |||||||||||
| Series - 2005 OPT3 (Class A4) |
||||||||||||||||
| 6,081 |
i | Structured Asset Investment Loan Trust |
0.752 | 05/25/35 | 6,079 | |||||||||||
| Series - 2005 4 (Class M1) |
||||||||||||||||
| 122,114 |
g,i | Structured Asset Securities Corp |
0.372 | 10/25/36 | 118,390 | |||||||||||
| Series - 2006 GEL4 (Class A2) |
||||||||||||||||
| 200,000 |
g,i | Vitality Re IV Ltd Series - 2013 IV B (Class ) |
2.770 | 01/09/17 | 204,480 | |||||||||||
| 125,000 |
g | Volvo Financial Equipment LLC Series - 2013 1A (Class A3) |
0.740 | 03/15/17 | 125,237 | |||||||||||
| 100,000 |
g | Vornado DP LLC Series - 2010 VNO (Class C) |
5.280 | 09/13/28 | 112,070 | |||||||||||
| 81,640 |
g,m | Wachovia Amortization Controlled Heloc NIM Series - 2006 N1 (Class N1) |
5.683 | 08/12/47 | 82,334 | |||||||||||
| 11,403 |
i | Wells Fargo Home Equity Trust Series - 2006 2 (Class A3) |
0.292 | 07/25/36 | 11,313 | |||||||||||
| 200,000 |
World Financial Network Credit Card Master Trust Series - 2010 A (Class A) |
3.960 | 04/15/19 | 206,108 | ||||||||||||
| 1,000,000 |
World Financial Network Credit Card Master Trust Series - 2012 D (Class A) |
2.150 | 04/17/23 | 994,329 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL ASSET BACKED |
|
18,454,757 | ||||||||||||||
|
|
|
|||||||||||||||
103
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| OTHER MORTGAGE BACKED - 8.4% |
||||||||||||||||
| $ 200,000 |
g | Banc of America Commercial Mortgage Trust Series - 2007 1 (Class AM) |
5.416 | % | 01/15/49 | $ | 210,531 | |||||||||
| 235,000 |
i | Banc of America Commercial Mortgage Trust Series - 2007 1 (Class AMFX) |
5.482 | 01/15/49 | 249,139 | |||||||||||
| 2,000,000 |
i | Banc of America Commercial Mortgage Trust 2006-2 Series - 2006 2 (Class AJ) |
5.954 | 05/10/45 | 2,132,884 | |||||||||||
| 30,000 |
i | Bear Stearns Commercial Mortgage Securities Series - 2007 T28 (Class AJ) |
6.146 | 09/11/42 | 32,871 | |||||||||||
| 90,000 |
Bear Stearns Commercial Mortgage Securities Series - 2007 PW15 (Class AM) |
5.363 | 02/11/44 | 94,828 | ||||||||||||
| 1,175,000 |
i | COBALT CMBS Commercial Mortgage Trust Series - 2007 C3 (Class AM) |
5.771 | 05/15/46 | 1,295,332 | |||||||||||
| 1,250,000 |
i | COBALT CMBS Commercial Mortgage Trust Series - 2007 C3 (Class AJ) |
5.771 | 05/15/46 | 1,285,106 | |||||||||||
| 31,732 |
Countrywide Alternative Loan Trust Series - 2004 30CB (Class 1A15) |
5.500 | 08/25/16 | 32,722 | ||||||||||||
| 250,000 |
Credit Suisse First Boston Mortgage Securities Corp Series - 2005 C3 (Class AJ) |
4.771 | 07/15/37 | 256,521 | ||||||||||||
| 60,000 |
i | Credit Suisse First Boston Mortgage Securities Corp Series - 2005 C5 (Class C) |
5.100 | 08/15/38 | 61,637 | |||||||||||
| 125,000 |
g | Credit Suisse Mortgage Capital Certificates Series - 2006 OMA (Class D) |
5.626 | 05/15/23 | 139,823 | |||||||||||
| 605,000 |
Credit Suisse Mortgage Capital Certificates Series - 2006 C4 (Class AM) |
5.509 | 09/15/39 | 650,765 | ||||||||||||
| 75,000 |
g | Credit Suisse Mortgage Capital Certificates Series - 2009 RR1 (Class A3C) |
5.383 | 02/15/40 | 78,141 | |||||||||||
| 56,779 |
i | HarborView Mortgage Loan Trust Series - 2007 4 (Class 2A1) |
0.375 | 07/19/47 | 49,537 | |||||||||||
| 100,000 |
g,i | JP Morgan Chase Commercial Mortgage Securities Corp Series - 2011 C4 (Class C) |
5.439 | 07/15/46 | 111,488 | |||||||||||
| 370,000 |
i | JP Morgan Chase Commercial Mortgage Securities Trust Series - 2005 LDP2 (Class C) |
4.911 | 07/15/42 | 374,455 | |||||||||||
| 330,000 |
i | JP Morgan Chase Commercial Mortgage Securities Trust Series - 2007 LD12 (Class AM) |
6.192 | 02/15/51 | 370,209 | |||||||||||
| 1,000,000 |
i | LB-UBS Commercial Mortgage Trust Series - 2007 C6 (Class AM) |
6.114 | 07/15/40 | 1,111,379 | |||||||||||
| 275,000 |
i | LB-UBS Commercial Mortgage Trust Series - 2005 C5 (Class AJ) |
5.057 | 09/15/40 | 285,751 | |||||||||||
| 170,000 |
i | Merrill Lynch Mortgage Trust Series - 0 C1 (Class AJA) |
6.470 | 02/12/51 | 189,320 | |||||||||||
| 90,000 |
g,i | Morgan Stanley Capital I Series - 2006 T23 (Class B) |
5.984 | 08/12/41 | 96,278 | |||||||||||
| 500,000 |
i | Morgan Stanley Capital I Series - 2007 T27 (Class AJ) |
5.831 | 06/11/42 | 548,743 | |||||||||||
| 55,000 |
i | Morgan Stanley Capital I Series - 2006 HQ9 (Class B) |
5.832 | 07/12/44 | 57,922 | |||||||||||
| 100,000 |
i | Morgan Stanley Capital I Series - 2006 HQ9 (Class C) |
5.842 | 07/12/44 | 103,874 | |||||||||||
| 22,000 |
g,i | Morgan Stanley Capital I Series - 2011 C1 (Class D) |
5.419 | 09/15/47 | 23,728 | |||||||||||
| 1,000,000 |
i | Morgan Stanley Capital I Trust Series - 2006 HQ10 (Class AJ) |
5.389 | 11/12/41 | 1,039,279 | |||||||||||
| 44,740 |
Residential Accredit Loans, Inc Series - 2004 QS4 (Class A1) |
4.350 | 03/25/34 | 46,078 | ||||||||||||
| 46,224 |
g,i | Springleaf Mortgage Loan Trust Series - 2012 1A (Class A) |
2.667 | 09/25/57 | 47,077 | |||||||||||
| 56,128 |
g,i | Springleaf Mortgage Loan Trust Series - 0 2A (Class A) |
2.220 | 10/25/57 | 56,842 | |||||||||||
| 1,250,000 |
Wachovia Bank Commercial Mortgage Trust Series - 2007 C30 (Class AM) |
5.383 | 12/15/43 | 1,359,765 | ||||||||||||
| 980,000 |
i | Wachovia Bank Commercial Mortgage Trust Series - 2007 C34 (Class AM) |
5.818 | 05/15/46 | 1,086,191 | |||||||||||
104
TIAA-CREF LIFE FUNDS - Bond Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $1,200,000 |
i | Wachovia Bank Commercial Mortgage Trust Series - 2007 C34 (Class AJ) |
6.163 | % | 05/15/46 | $ | 1,261,990 | |||||||||
| 2,150,000 |
i | Wachovia Bank Commercial Mortgage Trust Series - 2007 C31 (Class AM) |
5.591 | 04/15/47 | 2,355,035 | |||||||||||
| 110,000 |
i | Wachovia Bank Commercial Mortgage Trust Series - 2007 C32 (Class AJ) |
5.750 | 06/15/49 | 112,628 | |||||||||||
| 100,284 |
i | WaMu Mortgage Pass-Through Certificates Series - 2005 AR19 (Class A1B3) |
0.502 | 12/25/45 | 92,774 | |||||||||||
| 50,000 |
g,i | Wells Fargo Mortgage Backed Securities Trust Series - 2010 C1 (Class B) |
5.276 | 11/15/43 | 56,174 | |||||||||||
| 201,132 |
WF-RBS Commercial Mortgage Trust Series - 2013 C12 (Class A1) |
0.735 | 03/15/48 | 200,542 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL OTHER MORTGAGE BACKED |
|
17,557,359 | ||||||||||||||
|
|
|
|||||||||||||||
| TOTAL STRUCTURED ASSETS (Cost $35,660,016) |
36,012,116 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL BONDS (Cost $197,494,650) |
201,051,317 | |||||||||||||||
|
|
|
|||||||||||||||
|
SHARES |
COMPANY |
|||||||||||||||
| PREFERRED STOCKS - 0.1% |
||||||||||||||||
| BANKS - 0.1% |
||||||||||||||||
| 5,517 |
* | Federal Home Loan Mortgage Corp (FHLMC) |
8.375 | 12/30/49 | 60,190 | |||||||||||
| 17,265 |
* | Federal National Mortgage Association (FNMA) | 8.250 | 12/30/49 | 178,693 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL BANKS | 238,883 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL PREFERRED STOCKS (Cost $569,550) |
238,883 | |||||||||||||||
|
|
|
|||||||||||||||
|
PRINCIPAL |
ISSUER |
|||||||||||||||
| SHORT-TERM INVESTMENTS - 0.4% |
||||||||||||||||
| GOVERNMENT AGENCY DEBT - 0.4% |
||||||||||||||||
| $ 750,000 |
Federal Home Loan Bank (FHLB) |
0.050 | 08/08/14 | 749,960 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL GOVERNMENT AGENCY DEBT |
749,960 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $749,960) |
749,960 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL INVESTMENTS - 97.4% (Cost $200,682,137) |
203,909,232 | |||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - 2.6% |
5,507,864 | |||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS - 100.0% | $209,417,096 | |||||||||||||||
|
|
|
|||||||||||||||
| Abbreviation(s): | ||
| REIT |
Real Estate Investment Trust | |
| * | Non-income producing. |
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At June 30, 2014, the total value of these securities amounted to $29,496,383 or 14.1% 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. |
105
TIAA-CREF LIFE FUNDS - Money Market Fund
TIAA-CREF LIFE FUNDS
MONEY MARKET FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2014
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| SHORT-TERM INVESTMENTS - 101.3% |
|
|||||||||||||||
| CERTIFICATE OF DEPOSIT - 5.1% |
|
|||||||||||||||
| $500,000 |
Banco del Estado de Chile |
0.210 | % | 08/25/14 | $ | 500,000 | ||||||||||
| 500,000 |
Banco del Estado de Chile |
0.190 | 09/22/14 | 500,000 | ||||||||||||
| 500,000 |
Bank of Montreal |
0.170 | 08/26/14 | 500,000 | ||||||||||||
| 500,000 |
Bank of Montreal |
0.170 | 09/05/14 | 500,000 | ||||||||||||
| 500,000 |
Toronto-Dominion Bank |
0.150 | 08/08/14 | 500,000 | ||||||||||||
| 800,000 |
Toronto-Dominion Bank |
0.110 | 08/12/14 | 800,000 | ||||||||||||
| 370,000 |
Toronto-Dominion Bank |
0.150 | 09/02/14 | 370,000 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL CERTIFICATE OF DEPOSIT |
3,670,000 | |||||||||||||||
|
|
|
|||||||||||||||
| COMMERCIAL PAPER - 44.9% |
|
|||||||||||||||
| 500,000 |
y | Australia & New Zealand Banking Group Ltd |
0.145 | 07/11/14 | 499,980 | |||||||||||
| 300,000 |
y | Australia & New Zealand Banking Group Ltd |
0.145 | 07/23/14 | 299,974 | |||||||||||
| 675,000 |
y | Australia & New Zealand Banking Group Ltd |
0.165 | 09/15/14 | 674,765 | |||||||||||
| 500,000 |
y | Australia & New Zealand Banking Group Ltd |
0.167 | 09/16/14 | 499,821 | |||||||||||
| 500,000 |
Bank of Tokyo-Mitsubishi UFJ Ltd |
0.110 | 07/03/14 | 499,997 | ||||||||||||
| 300,000 |
Bank of Tokyo-Mitsubishi UFJ Ltd |
0.120 | 07/16/14 | 299,985 | ||||||||||||
| 600,000 |
Bank of Tokyo-Mitsubishi UFJ Ltd |
0.160 | 08/19/14 | 599,869 | ||||||||||||
| 615,000 |
y | Coca-Cola Co |
0.120 | 08/21/14 | 614,895 | |||||||||||
| 750,000 |
y | Coca-Cola Co |
0.120 | 10/03/14 | 749,765 | |||||||||||
| 1,200,000 |
y | Commonwealth Bank of Australia |
0.150 - 0.160 | 07/07/14 | 1,199,969 | |||||||||||
| 250,000 |
y | Commonwealth Bank of Australia |
0.130 | 08/18/14 | 249,957 | |||||||||||
| 900,000 |
y | DBS Bank Ltd |
0.150 - 0.160 | 07/25/14 | 899,898 | |||||||||||
| 550,000 |
y | DBS Bank Ltd |
0.190 | 07/28/14 | 549,922 | |||||||||||
| 430,000 |
y | DBS Bank Ltd |
0.150 | 09/10/14 | 429,873 | |||||||||||
| 375,000 |
y | Fairway Finance LLC |
0.140 | 08/05/14 | 374,949 | |||||||||||
| 400,000 |
y | Fairway Finance LLC |
0.180 | 08/18/14 | 399,904 | |||||||||||
| 1,200,000 |
General Electric Capital Corp |
0.070 | 07/23/14 | 1,199,949 | ||||||||||||
| 500,000 |
General Electric Capital Corp |
0.150 | 08/15/14 | 499,906 | ||||||||||||
| 250,000 |
General Electric Capital Corp |
0.120 | 09/26/14 | 249,928 | ||||||||||||
| 250,000 |
y | Hydro-Quebec |
0.100 | 07/22/14 | 249,985 | |||||||||||
| 1,000,000 |
y | International Business Machines Corp |
0.095 | 08/01/14 | 999,918 | |||||||||||
| 700,000 |
y | International Business Machines Corp |
0.100 | 09/04/14 | 699,874 | |||||||||||
| 110,000 |
JPMorgan Chase Bank NA |
0.210 | 07/18/14 | 109,989 | ||||||||||||
| 335,000 |
JPMorgan Chase Bank NA |
0.180 | 07/25/14 | 334,960 | ||||||||||||
| 146,000 |
JPMorgan Chase Bank NA |
0.160 | 08/27/14 | 145,963 | ||||||||||||
| 121,000 |
JPMorgan Chase Bank NA |
0.210 | 10/09/14 | 120,929 | ||||||||||||
| 115,000 |
JPMorgan Chase Bank NA |
0.210 | 10/20/14 | 114,926 | ||||||||||||
| 500,000 |
y | Liberty Street Funding LLC |
0.175 | 08/07/14 | 499,910 | |||||||||||
| 555,000 |
y | Microsoft Corp |
0.090 | 08/06/14 | 554,950 | |||||||||||
| 1,300,000 |
y | Microsoft Corp |
0.090 - 0.100 | 08/13/14 | 1,299,857 | |||||||||||
| 355,000 |
y | Mitsubishi UFJ Trust & Banking Corp |
0.170 | 08/19/14 | 354,918 | |||||||||||
| $500,000 |
y | National Australia Funding Delaware, Inc |
0.150 | 09/03/14 | 499,867 | |||||||||||
| 605,000 |
y | National Australia Funding Delaware, Inc |
0.125 | 10/01/14 | 604,807 | |||||||||||
| 500,000 |
y | Nestle Capital Corp |
0.130 | 08/06/14 | 499,935 | |||||||||||
| 500,000 |
y | Nestle Capital Corp |
0.095 | 09/10/14 | 499,906 | |||||||||||
| 439,000 |
y | Old Line Funding LLC |
0.170 | 08/06/14 | 438,925 | |||||||||||
| 435,000 |
y | Old Line Funding LLC |
0.170 | 09/25/14 | 434,823 | |||||||||||
| 500,000 |
y | Old Line Funding LLC |
0.170 | 10/01/14 | 499,783 | |||||||||||
| 300,000 |
y | Old Line Funding LLC |
0.170 | 10/08/14 | 299,860 | |||||||||||
| 845,000 |
PACCAR Financial Corp |
0.100 | 08/11/14 | 844,904 | ||||||||||||
| 400,000 |
PACCAR Financial Corp |
0.115 | 09/18/14 | 399,899 | ||||||||||||
| 400,000 |
y | Private Export Funding Corp (PEFCO) |
0.150 | 07/14/14 | 399,979 | |||||||||||
| 500,000 |
y | PEFCO |
0.140 | 08/07/14 | 499,928 | |||||||||||
| 410,000 |
y | PEFCO |
0.120 | 09/09/14 | 409,904 | |||||||||||
| 1,000,000 |
y | Procter & Gamble Co |
0.080 | 08/11/14 | 999,909 | |||||||||||
| 500,000 |
y | Procter & Gamble Co |
0.100 | 09/10/14 | 499,901 | |||||||||||
106
TIAA-CREF LIFE FUNDS - Money Market Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 255,000 |
y | Procter & Gamble Co |
0.120 | % | 09/12/14 | $ | 254,938 | |||||||||
| 400,000 |
Province of Ontario Canada |
0.110 | 07/14/14 | 399,984 | ||||||||||||
| 1,000,000 |
Province of Ontario Canada |
0.100 | 07/21/14 | 999,944 | ||||||||||||
| 470,000 |
Province of Ontario Canada |
0.105 | 07/31/14 | 469,959 | ||||||||||||
| 350,000 |
y | Province of Quebec Canada |
0.100 | 07/22/14 | 349,979 | |||||||||||
| 800,000 |
y | Province of Quebec Canada |
0.085 | 08/12/14 | 799,921 | |||||||||||
| 500,000 |
y | PSP Capital, Inc |
0.135 | 07/07/14 | 499,989 | |||||||||||
| 500,000 |
y | PSP Capital, Inc |
0.140 | 07/08/14 | 499,986 | |||||||||||
| 300,000 |
y | PSP Capital, Inc |
0.150 | 08/01/14 | 299,961 | |||||||||||
| 400,000 |
y | PSP Capital, Inc |
0.150 | 09/16/14 | 399,872 | |||||||||||
| 275,000 |
y | Toronto-Dominion Holdings USA, Inc |
0.110 | 08/05/14 | 274,970 | |||||||||||
| 1,000,000 |
Toyota Motor Credit Corp |
0.100 | 09/08/14 | 999,808 | ||||||||||||
| 500,000 |
Toyota Motor Credit Corp |
0.100 | 09/17/14 | 499,892 | ||||||||||||
| 400,000 |
y | United Overseas Bank Ltd |
0.240 | 07/14/14 | 399,965 | |||||||||||
| 500,000 |
y | United Overseas Bank Ltd |
0.175 | 07/22/14 | 499,949 | |||||||||||
| 300,000 |
y | United Overseas Bank Ltd |
0.140 | 08/26/14 | 299,935 | |||||||||||
| 250,000 |
y | United Overseas Bank Ltd |
0.250 | 08/27/14 | 249,901 | |||||||||||
| 425,000 |
y | United Overseas Bank Ltd |
0.200 | 10/10/14 | 424,761 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL COMMERCIAL PAPER |
32,735,529 | |||||||||||||||
|
|
|
|||||||||||||||
| GOVERNMENT AGENCY DEBT - 30.2% |
|
|||||||||||||||
| 1,400,000 |
Federal Home Loan Bank (FHLB) |
0.045 - 0.060 | 07/02/14 | 1,399,998 | ||||||||||||
| 775,000 |
FHLB |
0.050 | 07/07/14 | 774,994 | ||||||||||||
| 1,217,000 |
FHLB |
0.060 - 0.065 | 07/09/14 | 1,216,984 | ||||||||||||
| 529,000 |
FHLB |
0.050 | 07/11/14 | 528,993 | ||||||||||||
| 285,000 |
FHLB |
0.055 | 07/16/14 | 284,994 | ||||||||||||
| 1,550,000 |
FHLB |
0.050 - 0.110 | 07/18/14 | 1,549,935 | ||||||||||||
| 720,000 |
FHLB |
0.050 | 07/25/14 | 719,976 | ||||||||||||
| 500,000 |
FHLB |
0.060 | 07/30/14 | 499,976 | ||||||||||||
| 300,000 |
FHLB |
0.070 | 08/04/14 | 299,980 | ||||||||||||
| 500,000 |
FHLB |
0.070 | 08/08/14 | 499,963 | ||||||||||||
| 500,000 |
FHLB |
0.057 | 08/15/14 | 499,964 | ||||||||||||
| 1,430,000 |
FHLB |
0.058 - 0.080 | 08/20/14 | 1,429,859 | ||||||||||||
| 1,175,000 |
FHLB |
0.062 - 0.070 | 08/22/14 | 1,174,883 | ||||||||||||
| 230,000 |
FHLB |
0.080 | 08/25/14 | 229,972 | ||||||||||||
| 600,000 |
FHLB |
0.065 | 08/27/14 | 599,938 | ||||||||||||
| 155,000 |
FHLB |
0.075 | 08/29/14 | 154,981 | ||||||||||||
| 412,000 |
FHLB |
0.083 - 0.110 | 09/12/14 | 411,925 | ||||||||||||
| 635,000 |
FHLB |
0.075 - 0.080 | 09/19/14 | 634,892 | ||||||||||||
| 1,000,000 |
FHLB |
0.076 | 09/24/14 | 999,821 | ||||||||||||
| 1,205,000 |
Federal Home Loan Mortgage Corp (FHLMC) |
0.055 - 0.080 | 07/01/14 | 1,205,000 | ||||||||||||
| 92,000 |
FHLMC |
0.100 | 08/18/14 | 91,987 | ||||||||||||
| 100,000 |
FHLMC |
0.075 | 08/19/14 | 99,990 | ||||||||||||
| 1,142,000 |
FHLMC |
0.075 - 0.085 | 09/12/14 | 1,141,812 | ||||||||||||
| 189,000 |
FHLMC |
0.070 | 09/24/14 | 188,969 | ||||||||||||
| 70,000 |
Federal National Mortgage Association (FNMA) |
0.100 | 07/09/14 | 69,998 | ||||||||||||
| 350,000 |
FNMA |
0.085 | 07/14/14 | 349,989 | ||||||||||||
| 500,000 |
FNMA |
0.045 | 07/16/14 | 499,991 | ||||||||||||
| 68,000 |
FNMA |
0.070 | 07/23/14 | 67,997 | ||||||||||||
| 625,000 |
FNMA |
0.050 | 07/28/14 | 624,977 | ||||||||||||
| 600,000 |
FNMA |
0.055 | 07/29/14 | 599,974 | ||||||||||||
| 500,000 |
FNMA |
0.085 | 07/30/14 | 499,966 | ||||||||||||
| 500,000 |
FNMA |
0.060 | 08/20/14 | 499,958 | ||||||||||||
| 650,000 |
FNMA |
0.065 | 08/25/14 | 649,935 | ||||||||||||
| 665,000 |
FNMA |
0.060 - 0.090 | 09/03/14 | 664,919 | ||||||||||||
| 500,000 |
FNMA |
0.070 | 09/09/14 | 499,932 | ||||||||||||
| 285,000 |
FNMA |
0.080 | 10/01/14 | 284,942 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL GOVERNMENT AGENCY DEBT |
21,952,364 | |||||||||||||||
|
|
|
|||||||||||||||
| TREASURY DEBT - 16.4% |
|
|||||||||||||||
| 1,000,000 |
United States Treasury Bill |
0.031 | 07/10/14 | 999,992 | ||||||||||||
| 675,000 |
United States Treasury Bill |
0.026 - 0.077 | 07/24/14 | 674,982 | ||||||||||||
| 500,000 |
United States Treasury Bill |
0.025 | 08/07/14 | 499,987 | ||||||||||||
| 600,000 |
United States Treasury Bill |
0.025 | 08/14/14 | 599,982 | ||||||||||||
107
TIAA-CREF LIFE FUNDS - Money Market Fund
|
PRINCIPAL |
ISSUER |
RATE | MATURITY DATE |
VALUE | ||||||||||||
| $ 900,000 |
United States Treasury Bill |
0.089 - 0.095 | % | 08/21/14 | $ | 899,883 | ||||||||||
| 413,000 |
United States Treasury Bill |
0.025 - 0.040 | 08/28/14 | 412,976 | ||||||||||||
| 420,000 |
United States Treasury Bill |
0.030 | 09/11/14 | 419,975 | ||||||||||||
| 530,000 |
United States Treasury Bill |
0.025 - 0.091 | 09/18/14 | 529,941 | ||||||||||||
| 1,000,000 |
United States Treasury Bill |
0.021 | 09/25/14 | 999,950 | ||||||||||||
| 550,000 |
United States Treasury Bill |
0.035 | 10/09/14 | 549,946 | ||||||||||||
| 232,000 |
United States Treasury Bill |
0.041 - 0.043 | 11/13/14 | 231,964 | ||||||||||||
| 660,000 |
United States Treasury Note |
0.625 | 07/15/14 | 660,127 | ||||||||||||
| 500,000 |
United States Treasury Note |
0.125 | 07/31/14 | 500,004 | ||||||||||||
| 300,000 |
United States Treasury Note |
0.500 | 08/15/14 | 300,138 | ||||||||||||
| 435,000 |
United States Treasury Note |
0.250 | 09/15/14 | 435,142 | ||||||||||||
| 500,000 |
United States Treasury Note |
0.250 | 09/30/14 | 500,236 | ||||||||||||
| 500,000 |
United States Treasury Note |
0.500 | 10/15/14 | 500,643 | ||||||||||||
| 160,000 |
United States Treasury Note |
0.250 | 10/31/14 | 160,069 | ||||||||||||
| 200,000 |
United States Treasury Note |
0.250 | 11/30/14 | 200,096 | ||||||||||||
| 399,000 |
United States Treasury Note |
0.250 | 12/15/14 | 399,251 | ||||||||||||
| 100,000 |
United States Treasury Note |
0.125 | 12/31/14 | 100,002 | ||||||||||||
| 540,000 |
United States Treasury Note |
0.250 | 01/15/15 | 540,328 | ||||||||||||
| 100,000 |
United States Treasury Note |
0.250 | 03/31/15 | 100,117 | ||||||||||||
| 150,000 |
United States Treasury Note |
0.125 | 04/30/15 | 150,040 | ||||||||||||
| 550,000 |
United States Treasury Note |
0.375 | 06/15/15 | 551,320 | ||||||||||||
|
|
|
|||||||||||||||
| TOTAL TREASURY DEBT |
11,917,091 | |||||||||||||||
|
|
|
|||||||||||||||
| VARIABLE RATE SECURITIES - 4.7% |
|
|||||||||||||||
| 500,000 |
i | Federal Farm Credit Bank (FFCB) |
0.140 | 07/01/14 | 499,646 | |||||||||||
| 500,000 |
i | FFCB |
0.200 | 07/01/14 | 500,139 | |||||||||||
| 400,000 |
i | FFCB |
0.140 | 10/27/14 | 400,000 | |||||||||||
| 500,000 |
i | FFCB |
0.165 | 04/01/15 | 500,038 | |||||||||||
| 500,000 |
i | FFCB |
0.180 | 05/27/15 | 499,953 | |||||||||||
| 500,000 |
i | Federal Home Loan Bank (FHLB) |
0.200 | 07/01/14 | 500,000 | |||||||||||
| 500,000 |
i | FHLB |
0.220 | 07/01/14 | 500,199 | |||||||||||
|
|
|
|||||||||||||||
| TOTAL VARIABLE RATE SECURITIES |
3,399,975 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $73,674,959) |
73,674,959 | |||||||||||||||
|
|
|
|||||||||||||||
| TOTAL PORTFOLIO - 101.3% (Cost $73,674,959) |
73,674,959 | |||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - (1.3)% |
(946,162 | ) | ||||||||||||||
|
|
|
|||||||||||||||
| NET ASSETS - 100.0% | $ | 72,728,797 | ||||||||||||||
|
|
|
|||||||||||||||
| 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 06/30/2014, the aggregate value of these securities was $23,944,738 or 32.9% of net assets. |
108
TIAA-CREF LIFE FUNDS – Balanced Fund
TIAA-CREF LIFE FUNDS
BALANCED FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2014
|
SHARES |
SECURITY |
VALUE | ||||||
| TIAA-CREF LIFE FUNDS - 99.6%(a) |
| |||||||
| FIXED INCOME - 49.2% |
||||||||
| 352,416 |
TIAA-CREF Life Bond Fund |
$ | 9,148,716 | |||||
|
|
|
|||||||
| TOTAL FIXED INCOME |
9,148,716 | |||||||
|
|
|
|||||||
| INTERNATIONAL EQUITY - 9.9% |
||||||||
| 88,933 |
TIAA-CREF Life International Equity Fund |
1,843,575 | ||||||
|
|
|
|||||||
| TOTAL INTERNATIONAL EQUITY |
1,843,575 | |||||||
|
|
|
|||||||
| U.S. EQUITY - 40.5% |
||||||||
| 62,754 |
TIAA-CREF Life Growth Equity Fund |
1,708,160 | ||||||
| 47,740 |
TIAA-CREF Life Growth & Income Fund |
1,884,769 | ||||||
| 42,881 |
TIAA-CREF Life Large-Cap Value Fund |
1,664,629 | ||||||
| 11,082 |
TIAA-CREF Life Real Estate Securities Fund |
375,887 | ||||||
| 9,986 |
TIAA-CREF Life Small-Cap Equity Fund |
377,657 | ||||||
| 34,093 |
TIAA-CREF Life Stock Index Fund |
1,502,475 | ||||||
|
|
|
|||||||
| TOTAL U.S. EQUITY |
7,513,577 | |||||||
|
|
|
|||||||
| TOTAL TIAA-CREF LIFE FUNDS (Cost $17,739,409) |
18,505,868 | |||||||
|
|
|
|||||||
| TOTAL INVESTMENTS - 99.6% (Cost $17,739,409) |
18,505,868 | |||||||
| OTHER ASSETS & LIABILITIES, NET - 0.4% |
80,553 | |||||||
|
|
|
|||||||
| NET ASSETS - 100.0% | $18,586,421 | |||||||
|
|
|
|||||||
| (a) | The Fund invests its assets in the affiliated TIAA-CREF Life Funds. |
109
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 semi-annual period covered by this report that materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
Item 12. Exhibits.
12(a)(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 13, 2014 | By: /s/ Robert G. Leary Robert G. Leary | |
| President and Principal Executive Officer | ||
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
| Dated: August 13, 2014 | By: /s/ Robert G. Leary | |
| Robert G. Leary | ||
| President and Principal Executive Officer | ||
| (principal executive officer) | ||
| Dated: August 13, 2014 | 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