UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number    File No. 811-09301

TIAA-CREF 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)

Diana R. Gonzalez, Esq.

TIAA-CREF Funds

8500 Andrew Carnegie Blvd

Charlotte, North Carolina 28262-8500

(Name and address of agent for service)

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

Date of fiscal year end: March 31

Date of reporting period: September 30, 2022

Explanatory Note:

Registrant is re-filing its Semi-Annual Shareholder Report solely to correct the submission type to N-CSRS/A. The report was previously filed with the U.S. Securities and Exchange Commission on November 29, 2022 (SEC Accession No. 0001193125-22-294088) with an erroneous submission type “N-CSR.” Except for the change in submission type, this filing does not amend, update or change any other items or disclosures in the original filing.

Item 1. Reports to Stockholders.

Fixed-Income

Funds

TIAA-CREF

Semiannual

Report

TIAA-CREF

Funds

September

30,

2022

The

semiannual

report

contains

the

financial

statements

(unaudited).

Fund

name

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

8.1

Bond

Index

Fund

TBIIX

TBIAX

TBIPX

TBIRX

TBILX

TBIWX

8.2

Core

Bond

Fund

TIBDX

TIBHX

TIDPX

TIDRX

TIORX

TBBWX

8.3

Core

Impact

Bond

Fund

TSBIX

TSBHX

TSBPX

TSBBX

TSBRX

–

8.4

Core

Plus

Bond

Fund

TIBFX

TCBHX

TBPPX

TCBRX

TCBPX

TCBWX

8.5

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

TITIX

TIXHX

–

–

TIXRX

–

8.6

Green

Bond

Fund

TGRNX

TGRKX

TGRLX

TGRMX

TGROX

–

8.7

High-Yield

Fund

TIHYX

TIHHX

TIHPX

TIHRX

TIYRX

TIHWX

8.8

Inflation-Linked

Bond

Fund

TIILX

TIIHX

TIKPX

TIKRX

TCILX

TIIWX

8.9

Short

Duration

Impact

Bond

Fund

TSDJX

TSDHX

TSDFX

TSDDX

TSDBX

–

9.01

Short-Term

Bond

Fund

TISIX

TCTHX

TSTPX

TISRX

TCTRX

TCTWX

9.1

Short-Term

Bond

Index

Fund

TNSHX

TTBHX

TPSHX

TESHX

TRSHX

TTBWX

9.2

Money

Market

Fund

TCIXX

TMHXX

TPPXX

TIEXX

TIRXX

–

Contents

Understanding

this

report

3

Letter

to

investors

4

Market

monitor

6

About

the

funds’

benchmarks

7

Fund

performance

Portfolio

managers’

comments

8

Bond

Index

Fund

17

Core

Bond

Fund

18

Core

Impact

Bond

Fund

20

Core

Plus

Bond

Fund

22

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

24

Green

Bond

Fund

25

High-Yield

Fund

26

Inflation-Linked

Bond

Fund

27

Short

Duration

Impact

Bond

Fund

28

Short-Term

Bond

Fund

29

Short-Term

Bond

Index

Fund

31

Money

Market

Fund

32

Expense

examples

33

Portfolios

of

investments

38

Financial

statements

(unaudited)

Statements

of

assets

and

liabilities

358

Statements

of

operations

362

Statements

of

changes

in

net

assets

364

Financial

highlights

368

Notes

to

financial

statements

392

Additional

fund

information

404

How

to

reach

us

Inside

back

cover

3

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Understanding

this

report

For

the

purposes

of

this

report,

“TIAA-CREF

Funds”

refers

only

to

the

TIAA-CREF

Fixed-Income

Funds

listed

on

the

cover

of

this

report.

This

semiannual

report

contains

information

about

certain

TIAA-CREF

Funds

and

describes

their

results

for

the

six

months

ended

September

30,

2022

.

The

report

contains

four

main

sections:

A

letter

from

Brad

Finkle,

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds.

The

fund

performance

section

compares

each

fund’s

investment

returns

with

those

of

its

benchmark

index.

The

portfolios

of

investments

list

the

issuers,

industries

and

types

of

securities

in

which

each

fund

had

investments

as

of

September

30,

2022

.

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.

To

see

the

risks

of

investing

in

any

fund,

please

read

the

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

websites

at

TIAA.org

or

nuveen.com,

or

call

800-842-

2252

for

the

Institutional,

Advisor,

Premier

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

We

urge

you

to

read

the

prospectus

carefully

before

investing.

4

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Letter

to

Investors

Brad

Finkle

The

U.S.

bond

market

continued

to

struggle

for

the

six

months

ended

September

30,

2022,

amid

ongoing

inflation

concerns

and

rising

interest

rates.

All

of

the

major

fixed-income

categories

produced

negative

results

for

the

period.

Consequently,

all

eleven

TIAA-CREF

Fixed-Income

Funds

declined,

while

the

Money

Market

Fund

advanced.

The

broad

U.S.

bond

market,

as

measured

by

the

Bloomberg

U.S.

Aggregate

Bond

Index,

returned

–9.2%

for

the

period.

Institutional

Class

returns

for

three

of

the

eleven

fixed-income

funds

outpaced

the

returns

of

their

respective

benchmarks.

The

Money

Market

Fund

also

outperformed

its

benchmark.

Please

see

page

7

for

benchmark

definitions.

Among

the

eight

remaining

funds,

two

index

funds—the

Bond

Index

Fund

and

the

Short-Term

Bond

Index

Fund—just

slightly

lagged

their

benchmarks.

Bonds

declined

while

economy

contracted

The

U.S.

economy

contracted

during

the

first

three

months

of

the

period,

struggling

with

persistent

inflation

and

rising

interest

rates.

However,

consumer

spending

remained

strong

over

the

six

months.

The

unemployment

rate

remained

at

lows

not

seen

since

before

the

COVID-19

pandemic.

Inflation

continued

to

rise,

however,

and

the

Federal

Reserve

responded

by

raising

the

federal

funds

target

rate

four

times

to

3.00%–3.25%,

its

highest

level

since

early

2008.

Policymakers

expected

that

additional

increases

would

be

appropriate.

Oil

prices

spiked

in

June

but

declined,

overall,

for

the

period.

All

major

fixed-income

sectors

recorded

declines.

A

large

portion

of

the

Bloomberg

U.S.

Aggregate

Bond

Index’s

setback

took

place

in

the

final

month

of

the

period.

High-yield

bonds

recorded

the

largest

losses,

followed

by

U.S.

inflation-

protected

securities

and

municipal

bonds.

Shorter-term

securities

posted

the

smallest

declines.

TIAA-CREF

Fixed-Income

Funds

lost

ground

during

the

period

All

of

the

TIAA-CREF

Fixed-Income

Funds

suffered

setbacks

for

the

six-month

period.

Performance

for

the

Institutional

Class

ranged

from

–10.3%

for

the

High-

Yield

Fund

to

–2.0%

for

the

Short-Term

Bond

Fund.

The

Short-Term

Bond

Fund’s

–2.0%

return

outpaced

the

Bloomberg

1–3

Year

Government/Credit

Bond

Index.

The

Short

Duration

Impact

Bond

Fund

and

Short-

Term

Bond

Index

Fund

both

closely

matched

the

same

index.

The

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

returned

–6.2%,

trailing

the

performance

of

the

Bloomberg

10-Year

Municipal

Bond

Index,

primarily

due

to

an

overweight

position

in

the

transportation

sector.

The

Green

Bond

Fund

returned

–9.1%

and

lagged

its

benchmark,

the

MSCI

U.S.

Green

Bond

Index.

However,

the

Inflation-Linked

Bond

Fund

outpaced

the

Bloomberg

U.S.

Treasury

Inflation

Protected

Securities

(TIPS)

1–10

Year

Index

with

a

return

of

–7.1%.

The

Core

Plus

Bond

Fund

returned

–10.0%,

while

the

Core

Bond

Fund

and

Core

Impact

Bond

Fund

each

returned

–9.6%.

All

three

funds

lagged

their

common

benchmark,

the

Bloomberg

U.S.

Aggregate

Bond

Index.

The

Bond

Index

Fund

returned

–9.3%

and

modestly

trailed

the

same

benchmark,

primarily

due

to

the

impact

of

expenses.

The

High-Yield

Fund’s

–10.3%

return

lagged

the

performance

of

the

ICE

BofA

BB-B

U.S.

Cash

Pay

High

Yield

Constrained

Index.

The

Money

Market

Fund

gained

0.6%

to

outperform

the

iMoneyNet

Money

Fund

Averages™—All

Government

benchmark.

A

detailed

overview

of

the

fixed-income

markets

during

the

period

appears

in

our

Market

Monitor

on

page

6.

A

discussion

of

each

fund

and

its

relative

performance

begins

on

page

8.

5

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Staying

focused

on

long-term

objectives

For

much

of

the

past

decade,

economists

and

market

watchers

have

been

concerned

about

very

low

interest

rates

and

the

possibility

of

deflation.

The

pandemic

and

its

aftermath

changed

all

this.

Now

we

are

facing

higher

inflation

and

rising

interest

rates,

which

have

caused

concern

among

investors

and

led

to

increased

market

volatility.

When

major

shifts

occur

in

the

economy

and

financial

markets,

we’ve

found

that

it’s

more

important

than

ever

to

maintain

a

steady,

long-term

approach

toward

your

investment

objectives.

We

believe

a

diversified

investment

portfolio,

managed

by

professionals

and

including

fixed-income

mutual

funds,

can

be

a

sound

approach

to

help

you

navigate

periods

of

uncertainty

and

achieve

your

long-term

investment

goals.

Of

course,

diversification

cannot

guarantee

against

market

losses.

Please

visit

TIAA.org

for

more

information

on

asset

class

performance.

If

you

need

assistance

with

your

TIAA-CREF

fixed-

income

portfolio,

please

contact

your

financial

advisor

or

call

a

TIAA

financial

consultant

at

800-842-2252.

As

always,

we

are

here

to

help.

Brad

Finkle

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

Market

monitor

6

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Bond

markets

declined

on

concerns

over

interest

rates

and

inflation

All

major

fixed-income

markets

generated

negative

returns

for

the

six-month

period.

The

economy

contracted

during

the

second

quarter

of

2022

due

to

the

impact

of

continued

inflation

and

rising

interest

rates.

Price

increases

were

persistent

and

broad

based.

However,

consumer

spending

remained

positive,

and

the

unemployment

rate

declined

slightly

in

September

to

match

pre-pandemic

lows.

The

Federal

Reserve

moved

assertively

to

address

inflation

concerns,

raising

interest

rates

four

times

during

the

period

and

signaling

that

further

hikes

were

expected.

Investment-grade

fixed-rate

bonds,

as

represented

by

the

Bloomberg

U.S.

Aggregate

Bond

Index,

returned

−9.2%

for

the

six-month

period.

Among

segments

of

the

fixed-income

market,

U.S.

high-yield

bonds,

as

measured

by

the

ICE

BofA

BB-B

U.S.

Cash

Pay

High

Yield

Constrained

Index,

returned

−10.2%

for

the

period.

The

Bloomberg

U.S.

Treasury

Inflation

Protected

Securities

(TIPS)

1–10

Year

Index

returned

−7.2%.

Municipal

bonds,

as

represented

by

the

Bloomberg

10-Year

Municipal

Bond

Index,

returned

−4.7%.

Short-term

bonds,

as

measured

by

the

Bloomberg

U.S.

1–3

Year

Government/Credit

Bond

Index,

returned

−2.1%.

Economy

contracted

as

rates

rose

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

decreased

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

decline

marked

the

second

consecutive

quarter

of

GDP

contraction.

However,

consumer

spending

increased

during

the

quarter.

The

unemployment

rate

declined

modestly

for

the

six-month

period,

falling

from

3.6%

in

April

to

3.5%

in

September.

Core

inflation,

which

includes

all

items

except

food

and

energy,

increased

6.6%

for

the

twelve

months

ended

September

2022.

The

period

began

with

an

annualized

inflation

rate

of

6.2%.

The

price

of

West

Texas

Intermediate

crude

oil

(WTI)

started

the

period

at

$99

per

barrel

on

April

1,

2022,

and

peaked

at

nearly

$122

in

June

as

the

war

in

Ukraine

and

other

factors

tightened

markets.

But

demand

eased

and

supply

increased—in

part

due

to

the

release

of

oil

from

the

U.S.

Strategic

Petroleum

Reserve.

As

a

result,

WTI

prices

ended

the

period

below

$80

on

September

30,

2022.

The

U.S.

dollar

appreciated

against

other

major

currencies

during

the

period.

The

broad

U.S.

stock

market,

as

measured

by

the

Russell

3000®

Index,

returned

−20.4%

and

was

volatile.

Stock

prices

declined

through

June,

rallied

in

July

and

August,

and

fell

sharply

again

in

September.

Yields

on

U.S.

Treasuries

of

all

maturities

rose

during

the

period,

but

the

increases

were

most

pronounced

among

shorter-maturity

bonds.

Fed

raised

rates

four

times

The

Fed

increased

the

federal

funds

target

rate

four

times

during

the

period,

raising

the

key

short-term

interest-rate

measure

to

3.00%–3.25%.

Policymakers

said

they

were

“strongly

committed”

to

reducing

inflation

to

long-term

targets

and

signaled

that

additional

rate

increases

would

be

appropriate

to

achieve

that

goal.

The

Fed

also

stated

that

it

would

continue

to

reduce

its

holdings

of

bonds

and

other

assets

purchased

previously

in

an

effort

to

aid

the

economy

and

support

credit

markets.

Other

major

international

central

banks

also

raised

interest

rates

in

an

effort

to

address

global

inflation

concerns.

The

European

Central

Bank

boosted

its

suite

of

benchmark

rates

from

near-zero

levels

in

July

and

September

for

a

combined

increase

of

1.25

percentage

points.

The

Bank

of

England

raised

its

benchmark

interest

rate

four

times

during

the

period,

hiking

the

rate

from

0.75%

to

2.25%.

Bonds

posted

declines

across

all

categories

Performance

for

the

six

months

ended

September

30,

2022

Source:

Corporate

high

yield:

ICE

BofA

BB-B

U.S.

Cash

Pay

High

Yield

Constrained

Index;

Investment

grade:

Bloomberg

U.S.

Aggregate

Bond

Index;

Inflation

protected:

Bloomberg

U.S.

TIPS

1–10

Years

Index;

Municipals:

Bloomberg

10-Year

Municipal

Bond

Index;

Short

term:

Bloomberg

U.S.

1–3

Year

Government/Credit

Index.

As

of

September

30,

2022.

7

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

About

the

funds’

benchmarks

The

Bloomberg

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.

The

Bloomberg

U.S.

1–3

Year

Government/Credit

Bond

Index

measures

the

performance

of

U.S.

Treasury

and

agency

securities

and

corporate

bonds

with

1-

to

3-year

maturities.

The

ICE

BofA

BB-B

U.S.

Cash

Pay

High

Yield

Constrained

Index

measures

the

performance

of

bond

securities

that

pay

interest

in

cash

and

have

a

credit

rating

of

BB

or

B.

ICE

BofA

uses

a

composite

of

Fitch

Ratings,

Moody’s

and

Standard

&

Poor’s

credit

ratings

in

selecting

bonds

for

this

index.

These

ratings

measure

the

risk

that

the

bond

issuer

will

fail

to

pay

interest

or

to

repay

principal

in

full.

The

index

is

market

weighted

so

that

larger

bond

issues

have

a

greater

effect

on

the

index’s

return.

However,

the

representation

of

any

single

bond

issuer

is

restricted

to

a

maximum

of

2%

of

the

total

index.

The

Bloomberg

10-Year

Municipal

Bond

Index

measures

the

performance

of

intermediate-

and

longer-term

tax-exempt

bonds.

Bonds

in

the

index

must

be

rated

investment

grade

(Baa3/BBB-

or

higher),

have

an

outstanding

par

value

of

at

least

$7

million

and

be

issued

as

part

of

a

transaction

of

at

least

$75

million.

The

Bloomberg

U.S.

Treasury

Inflation

Protected

Securities

(TIPS)

1–10

Year

Index

measures

the

performance

of

fixed-

income

securities

with

maturities

between

1

and

10

years

that

are

adjusted

for

inflation,

as

measured

by

the

Consumer

Price

Index

for

All

Urban

Consumers

(CPI-U).

The

Bloomberg

MSCI

U.S.

Green

Bond

Index

measures

the

performance

of

the

U.S.

market

for

fixed-income

securities

issued

to

fund

projects

with

direct

environmental

benefits.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

For

additional

details

about

the

benchmark

indexes,

please

read

the

funds’

latest

prospectus.

Source:

Bloomberg

Index

Services

Limited.

BLOOMBERG®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

Bloomberg

or

Bloomberg’s

licensors

own

all

proprietary

rights

in

the

Bloomberg

Indices.

Bloomberg

neither

approves

nor

endorses

this

material,

nor

guarantees

the

accuracy

or

completeness

of

any

information

herein,

nor

makes

any

warranty,

express

or

implied,

as

to

the

results

to

be

obtained

therefrom

and,

to

the

maximum

extent

allowed

by

law,

neither

shall

have

any

liability

or

responsibility

for

injury

or

damages

arising

in

connection

therewith.

Source:

ICE

Data

Indices,

LLC

(“ICE

DATA”),

is

used

with

permission.

ICE

DATA,

ITS

AFFILIATES

AND

THEIR

RESPECTIVE

THIRD

PARTY

SUPPLIERS

DISCLAIM

ANY

AND

ALL

WARRANTIES

AND

REPRESENTATIONS,

EXPRESS

AND/OR

IMPLIED,

INCLUDING

ANY

WARRANTIES

OF

MERCHANTABILITY

OR

FITNESS

FOR

A

PARTICULAR

PURPOSE

OR

USE,

INCLUDING

THE

INDICES,

INDEX

DATA

AND

ANY

DATA

INCLUDED

IN,

RELATED

TO,

OR

DERIVED

THEREFROM.

NEITHER

ICE

DATA,

ITS

AFFILIATES

NOR

THEIR

RESPECTIVE

THIRD

PARTY

PROVIDERS

SHALL

BE

SUBJECT

TO

ANY

DAMAGES

OR

LIABILITY

WITH

RESPECT

TO

THE

ADEQUACY,

ACCURACY,

TIMELINESS

OR

COMPLETENESS

OF

THE

INDICES

OR

THE

INDEX

DATA

OR

ANY

COMPONENT

THEREOF,

AND

THE

INDICES

AND

INDEX

DATA

AND

ALL

COMPONENTS

THEREOF

ARE

PROVIDED

ON

AN

“AS

IS”

BASIS

AND

YOUR

USE

IS

AT

YOUR

OWN

RISK.

ICE

DATA,

ITS

AFFILIATES

AND

THEIR

RESPECTIVE

THIRD

PARTY

SUPPLIERS

DO

NOT

SPONSOR,

ENDORSE,

OR

RECOMMEND

TIAA-CREF

FUNDS,

OR

ANY

OF

ITS

PRODUCTS

OR

SERVICES.

Portfolio

managers’

comments

8

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Bond

Index

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Bond

Index

Fund returned

-9.26%

for

the

Institutional

Class,

compared

with

the

-9.22% return

of

its

benchmark,

the

Bloomberg

U.S.

Aggregate

Bond

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-14.75% versus

-14.60% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

All

sectors

in

the

benchmark

declined

All

of

the

sectors

in

the

Bloomberg

U.S.

Aggregate

Bond

Index

posted

negative

returns

for

the

six

months.

U.S.

Treasuries—

the

largest

sector

with

a

weighting

of

40.2%—returned

–8.0%,

outperforming

the

benchmark.

Mortgage-backed

securities

and

corporate

bonds,

the

next

two

largest

sectors

at

27.4%

and

24.3%,

respectively,

both

trailed

the

benchmark

with

returns

of

–9.1%

and

–12.0%,

respectively.

Among

smaller

sectors

in

the

benchmark,

asset-backed

securities

were

the

best-performing

sector

with

a

return

of

–2.2%,

followed

by

government

agency

securities,

which

returned

–4.5%,

and

commercial

mortgage-

backed

securities,

which

returned

–6.6%.

Fund

slightly

lagged

its

benchmark

The

Fund

underperformed

its

benchmark

by

a

small

margin

for

the

six-month

period.

The

Fund’s

return

includes

a

deduction

for

expenses,

while

the

benchmark’s

does

not.

The

Fund

seeks

to

maintain

the

overall

characteristics

of

its

benchmark.

The

Fund’s

managers

invest

in

the

same

sectors

that

are

included

in

the

benchmark

and

closely

match

the

benchmark’s

weightings

and

maturities.

During

the

period,

this

portfolio

had

sector

returns

that

were

similar

to

its

benchmark,

enabling

it

to

resemble

the

index’s

performance.

Throughout

the

period,

the

Fund’s

managers

kept

the

Fund’s

duration—a

measure

of

its

sensitivity

to

interest-rate

changes—close

to

that

of

its

benchmark.

This

strategy

helped

the

Fund’s

risk

and

reward

characteristics

to

more

closely

resemble

those

of

its

benchmark.

Core

Bond

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Core

Bond

Fund returned

-9.63%

for

the

Institutional

Class,

compared

with

the

-9.22% return

of

its

benchmark,

the

Bloomberg

U.S.

Aggregate

Bond

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-15.15% versus

-14.60% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

9

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Portfolio

managers’

comments

continued

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

All

sectors

in

the

benchmark

declined

All

of

the

sectors

in

the

Bloomberg

U.S.

Aggregate

Bond

Index

posted

negative

returns

for

the

six

months.

U.S.

Treasuries—

the

largest

sector

with

a

weighting

of

40.2%—returned

–8.0%,

outperforming

the

benchmark.

Mortgage-backed

securities

and

corporate

bonds,

the

next

two

largest

sectors

at

27.4%

and

24.3%,

respectively,

both

trailed

the

benchmark

with

returns

of

–9.1%

and

–12.0%,

respectively.

Among

smaller

sectors

in

the

benchmark,

asset-backed

securities

were

the

best-performing

sector

with

a

return

of

–2.2%,

followed

by

government

agency

securities,

which

returned

–4.5%,

and

commercial

mortgage-

backed

securities,

which

returned

–6.6%.

Fund

trailed

its

benchmark

The

Fund

underperformed

its

benchmark

for

the

six-month

period,

primarily

due

asset

allocation.

An

overweight

position

in

the

corporate

bond

sector—especially

a

small

allocation

to

high-yield

corporates—and

a

corresponding

underweight

to

Treasuries

hurt

relative

performance

most

as

riskier

assets

underperformed

during

the

period.

This

was

partially

offset

by

favorable

results

from

the

Fund’s

shorter-than-benchmark

duration—a

measure

of

sensitivity

to

interest-rate

changes—which

was

beneficial

as

rates

rose

sharply

across

the

yield

curve.

The

Fund’s

allocation

to

MBS

also

contributed

positively

to

its

relative

return.

Core

Impact

Bond

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Core

Impact

Bond

Fund returned

-9.61%

for

the

Institutional

Class,

compared

with

the

-9.22% return

of

its

benchmark,

the

Bloomberg

U.S.

Aggregate

Bond

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-15.14% versus

-14.60% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

All

sectors

in

the

benchmark

declined

All

of

the

sectors

in

the

Bloomberg

U.S.

Aggregate

Bond

Index

posted

negative

returns

for

the

six

months.

U.S.

Treasuries—

the

largest

sector

with

a

weighting

of

40.2%—returned

–8.0%,

outperforming

the

benchmark.

Mortgage-backed

securities

and

corporate

bonds,

the

next

two

largest

sectors

at

27.4%

and

24.3%,

respectively,

both

trailed

the

benchmark

with

returns

of

–9.1%

and

–12.0%,

respectively.

Among

smaller

sectors

in

the

benchmark,

asset-backed

securities

were

the

best-performing

sector

with

a

return

of

–2.2%,

followed

by

government

agency

securities,

which

returned

–4.5%,

and

commercial

mortgage-

backed

securities,

which

returned

–6.6%.

Portfolio

managers’

comments

10

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

continued

Fund

trailed

its

benchmark

The

Fund

underperformed

its

benchmark

for

the

six-month

period,

primarily

due

to

asset

allocation.

An

overweight

position

in

the

corporate

bond

sector—especially

a

small

allocation

to

high-yield

corporates—and

a

corresponding

underweight

to

Treasuries

hurt

relative

performance

most

as

riskier

assets

underperformed

during

the

period.

Fund

positions

in

the

municipals,

CMBS,

government

agency

and

government

credit

sectors

also

detracted.

This

was

partially

offset

by

favorable

results

from

the

Fund’s

shorter-than-benchmark

duration—a

measure

of

sensitivity

to

interest-rate

changes—which

was

beneficial

as

rates

rose

sharply

across

the

yield

curve.

The

Fund’s

allocation

to

MBS

also

contributed

positively

to

its

relative

return.

Core

Plus

Bond

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Core

Plus

Bond

Fund returned

-9.97%

for

the

Institutional

Class,

compared

with

the

-9.22% return

of

its

benchmark,

the

Bloomberg

U.S.

Aggregate

Bond

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-15.25% versus

-14.60% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

All

sectors

in

the

benchmark

declined

All

of

the

sectors

in

the

Bloomberg

U.S.

Aggregate

Bond

Index

posted

negative

returns

for

the

six

months.

U.S.

Treasuries—

the

largest

sector

with

a

weighting

of

40.2%—returned

–8.0%,

outperforming

the

benchmark.

Mortgage-backed

securities

and

corporate

bonds,

the

next

two

largest

sectors

at

27.4%

and

24.3%,

respectively,

both

trailed

the

benchmark

with

returns

of

–9.1%

and

–12.0%,

respectively.

Among

smaller

sectors

in

the

benchmark,

asset-backed

securities

were

the

best-performing

sector

with

a

return

of

–2.2%,

followed

by

government

agency

securities,

which

returned

–4.5%,

and

commercial

mortgage-

backed

securities,

which

returned

–6.6%.

Fund

trailed

its

benchmark

The

Fund

underperformed

its

benchmark

for

the

six-month

period,

primarily

due

to

asset

allocation.

An

overweight

position

in

the

corporate

bond

sector—especially

a

small

allocation

to

high-yield

corporates—and

a

corresponding

underweight

to

Treasuries

hurt

relative

performance

most

as

riskier

assets

underperformed

during

the

period.

This

was

partially

offset

by

favorable

results

from

the

Fund’s

shorter-than-benchmark

duration—a

measure

of

sensitivity

to

interest-rate

changes—which

was

beneficial

as

rates

rose

sharply

across

the

yield

curve.

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

5–15

Year

Laddered

Tax-Exempt

Bond

Fund returned

-6.16%

for

the

Institutional

Class,

compared

with

the

-4.65% return

of

its

benchmark,

the

Bloomberg

10-Year

Municipal

Bond

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-12.30% versus

-10.10% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

11

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Portfolio

managers’

comments

continued

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

All

benchmark

sectors

lost

ground

All

of

the

sectors

in

the

Bloomberg

10-Year

Municipal

Bond

Index

produced

negative

returns

for

the

six

months.

State

general

obligation

bonds

(GOs),

the

benchmark’s

largest

sector

by

market

capitalization

at

period

end,

returned

–4.1%.

Transportation,

the

index’s

second-largest

sector,

returned

–4.5%.

The

industrial

revenue

sector

recorded

the

largest

setback

with

a

return

of

–7.9%.

The

housing

sector

posted

the

second-largest

decline

with

a

return

of

–7.4%,

followed

by

the

health

care

sector,

which

returned

–5.5%.

The

water

and

sewer

sector

was

the

benchmark’s

best

performer

with

a

return

of

–4.0%.

As

of

September

30,

2022,

higher-rated

10-year

AAA

municipal

bonds

yielded

3.24%,

compared

with

a

3.83%

yield

on

the

10-year

U.S.

Treasury

bond.

New

municipal

issuance

during

the

six-month

period

was

$205.5

billion,

down

from

$222.2

billion

for

the

prior

six

months,

from

October

1,

2021,

through

March

31,

2022.

Fund

trailed

its

benchmark

The

Fund

underperformed

its

benchmark

for

the

period.

Yield

curve

positioning,

as

well

as

security

selection

and

an

overweight

position

in

the

transportation

sector,

detracted

most

from

relative

performance.

The

health

care

sector

was

the

next-largest

detractor

due

to

security

selection

and

an

overweight

position.

Positions

in

the

education

and

leasing

sectors

also

hampered

relative

performance.

By

contrast,

the

Fund

benefited

from

its

holdings

in

the

state

GO

and

special

tax

sectors.

Favorable

yield

curve

positioning

aided

relative

performance

in

both

categories.

Green

Bond

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Green

Bond

Fund returned

-9.08%

for

the

Institutional

Class,

compared

with

the

-8.57% return

of

its

benchmark,

the

Bloomberg

MSCI

U.S.

Green

Bond

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-14.50% versus

-14.43% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

Portfolio

managers’

comments

12

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

continued

All

benchmark

sectors

declined

All

of

the

sectors

in

the

Bloomberg

MSCI

U.S.

Green

Bond

Index

posted

negative

returns

for

the

six

months.

Corporate

bonds,

the

largest

sector

in

the

index

with

a

weighting

of

60.3%

on

September

30,

2022,

trailed

the

benchmark

with

a

return

of

–10.1%.

Government

agency

bonds,

the

index’s

second-largest

sector

with

a

weighting

of

19.9%,

and

government

credit

securities,

the

benchmark’s

third-largest

sector

at

18.8%,

both

outpaced

the

index,

returning

–5.3%

and

–7.2%,

respectively.

Commercial

mortgage-backed

securities

(CMBS),

which

represented

just

0.3%

of

the

index,

returned

–5.3%.

Fund

underperformed

its

benchmark

The

Fund

trailed

its

benchmark

for

the

six-month

period.

The

Fund’s

out-of-benchmark

allocations

to

asset-backed

securities

and

municipal

bonds,

along

with

an

overweight

position

in

CMBS,

detracted

most

from

its

relative

performance

versus

the

index.

An

allocation

to

corporate

bonds

also

hurt

the

Fund’s

relative

return.

On

the

positive

side,

the

Fund’s

overall

yield

curve

positioning—how

the

Fund

was

invested

across

different

bond

maturities—as

well

as

its

underweight

positions

in

government

agency

bonds

and

government

credit

securities,

made

positive

contributions

to

its

relative

performance.

High-Yield

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

High-Yield

Fund returned

-10.29%

for

the

Institutional

Class,

compared

with

the

-10.17% return

of

its

benchmark,

the

ICE

BofA

BB-B

U.S.

Cash

Pay

High

Yield

Constrained

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-13.02% versus

-13.66% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

movement

of

oil

prices

can

be

influential

due

to

the

large

representation

of

energy

companies

in

the

high-yield

sector.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

All

sectors

posted

losses

For

the

six

months,

all

high-yield

bond

sectors

declined.

The

worst

performer

was

pharmaceuticals,

returning

–26.5%.

Transport

infrastructure/services,

one

of

the

benchmark’s

smallest

sectors

on

September

30,

2022,

was

the

best

performer,

returning

−4.3%.

High-yield

bonds

posted

negative

results

across

all

credit

quality

tiers

for

the

six

months

as

investors

favored

higher-rated

bonds,

such

as

U.S.

Treasuries,

as

market

volatility

persisted.

Lower-quality

bonds

(those

rated

“CCC”

and

below)

had

the

worst

performance

with

a

loss

of

−13.9%.

Bonds

rated

“B”

and

“BB”

returned

−11.2%

and

–9.4%,

respectively.

New

high-yield

debt

issuance

totaled

more

than

$43

billion

for

the

six

months,

down

substantially

from

the

$239

billion

for

the

same

period

in

2021,

as

volumes

declined

throughout

the

period.

The

U.S.

issuer

weighted

speculative-grade

corporate

default

rate

fell

to

1.5%

on

September

30,

2022,

from

2.5%

a

year

earlier,

according

to

Moody’s

Investors

Service.

Fund

trailed

its

benchmark

For

the

six-month

period,

the

Fund

underperformed

its

benchmark.

Overweight

positions

in

poorly

performing

health

care

provider

Community

Health

Systems,

software

services

company

Avaya

Holdings

and

retail

chain

Michaels

were

the

largest

detractors

from

the

Fund’s

relative

return.

13

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Portfolio

managers’

comments

continued

On

the

positive

side,

the

Fund

was

helped

by

underweight

positions

in

pharmaceutical

company

Bausch

Health

Americas

and

recreation

and

travel

firm

Carnival.

An

out-of-benchmark

allocation

to

Surgery

Center

Holdings,

which

specializes

in

health

care

facilities,

was

also

beneficial.

Inflation-Linked

Bond

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Inflation-Linked

Bond

Fund returned

-7.08%

for

the

Institutional

Class,

compared

with

the

-7.22% return

of

its

benchmark,

the

Bloomberg

U.S.

Treasury

Inflation

Protected

Securities

(TIPS)

1-10

Year

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-7.17% versus

-7.44% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

Inflation-protected

bonds,

as

measured

by

the

TIPS

1–10

Year

Index,

outperformed

the

Bloomberg

U.S.

Aggregate

Bond

Index.

Despite

a

period

of

economic

contraction,

a

tight

labor

market

helped

consumer

spending

remain

strong,

while

energy

prices

reacted

to

global

supply

pressure.

These

factors

contributed

to

elevated

inflation

levels

that

benefited

TIPS.

Fund

outperformed

its

benchmark

The

Fund

declined

for

the

six-month

period

but

surpassed

its

benchmark.

The

Fund’s

favorable

yield

curve

positioning—how

the

Fund

was

invested

across

different

bond

maturities—in

the

U.S.

Treasuries

sector

enhanced

its

relative

performance

versus

the

benchmark.

Treasuries

accounted

for

96.8%

of

the

Fund’s

overall

holdings

as

of

September

30,

2022.

Conversely,

the

Fund’s

out-of-benchmark

holdings

in

mortgage-backed

securities

modestly

hampered

performance

relative

to

the

benchmark.

During

the

period,

the

Fund’s

portfolio

managers

aligned

the

Fund’s

duration—a

measure

of

the

Fund’s

sensitivity

to

interest-rate

changes—close

to

that

of

the

TIPS

1–10

Year

index.

This

investment

strategy

helped

the

Fund’s

risk

and

reward

characteristics

to

remain

in

line

with

those

of

its

benchmark.

Short

Duration

Impact

Bond

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Short

Duration

Impact

Bond

Fund returned

-2.07%

for

the

Institutional

Class,

compared

with

the

-2.10% return

of

its

benchmark,

the

Bloomberg

U.S.

1-3

Year

Government/Credit

Bond

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-4.93% versus

-5.07% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

Portfolio

managers’

comments

14

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

continued

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

All

sectors

in

the

benchmark

declined

All

of

the

sectors

in

the

Bloomberg

U.S.

1–3

Year

Government/Credit

Bond

Index

posted

negative

returns

for

the

six

months.

Short-term

Treasuries,

by

far

the

benchmark’s

largest

sector

with

a

weighting

of

67.6%,

returned

–2.1%.

Corporate

bonds—

the

second-largest

sector

with

a

weighting

of

22.6%—was

the

index’s

worst-performing

component

with

a

return

of

–2.2%.

Government

agency

bonds

performed

best

at

−2.0%,

while

government

credit

securities

returned

–2.2%.

Fund

outperformed

its

benchmark

The

Fund

declined

but

surpassed

its

benchmark

for

the

period.

Overall,

the

Fund’s

yield

curve

positioning—how

the

Fund

was

invested

across

different

bond

maturities—as

well

as

security

selection

and

an

underweight

position

in

the

Treasuries

sector

contributed

most

to

its

relative

performance.

By

contrast,

the

Fund’s

out-of-benchmark

allocations

to

the

asset-backed

securities

and

commercial

mortgage-backed

securities

sectors

detracted

most

from

its

relative

return.

An

allocation

to

government

agency

bonds

and

an

overweight

in

the

corporate

bond

sector

further

hampered

performance.

Short-Term

Bond

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Short-Term

Bond

Fund returned

-2.01%

for

the

Institutional

Class,

compared

with

the

-2.10% return

of

its

benchmark,

the

Bloomberg

U.S.

1-3

Year

Government/Credit

Bond

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-4.25% versus

-5.07% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

All

sectors

in

the

benchmark

declined

All

of

the

sectors

in

the

Bloomberg

U.S.

1–3

Year

Government/Credit

Bond

Index

posted

negative

returns

for

the

six

months.

Short-term

Treasuries,

by

far

the

benchmark’s

largest

sector

with

a

weighting

of

67.6%,

returned

–2.1%.

Corporate

bonds—

the

second-largest

sector

with

a

weighting

of

22.6%—was

the

index’s

worst-performing

component

with

a

return

of

–2.2%.

Government

agency

bonds

performed

best

at

−2.0%,

while

government

credit

securities

returned

–2.2%.

Fund

outperformed

its

benchmark

The

Fund

lost

ground

but

outperformed

its

benchmark

for

the

period

by

a

solid

margin.

Overall,

the

Fund’s

yield

curve

positioning—how

the

Fund

was

invested

across

different

bond

maturities—contributed

most

to

its

relative

performance.

15

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Portfolio

managers’

comments

continued

By

contrast,

the

Fund’s

out-of-benchmark

allocations

to

the

asset-backed

securities,

mortgage-backed

securities,

commercial

mortgage-backed

securities

and

municipal

bond

sectors

detracted

most

from

its

relative

return.

An

allocation

to

government

credit

securities

and

an

overweight

in

the

corporate

bond

sector

also

detracted.

Short-Term

Bond

Index

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Short-Term

Bond

Index

Fund returned

-2.13%

for

the

Institutional

Class,

compared

with

the

-2.10% return

of

its

benchmark,

the

Bloomberg

U.S.

1-3

Year

Government/Credit

Bond

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-5.10% versus

-5.07% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

All

major

segments

of

the

fixed-income

market

recorded

losses

for

the

period.

The

Bloomberg

U.S.

Aggregate

Bond

Index,

a

broad

measure

of

the

U.S.

investment-grade

fixed-rate

bond

market,

declined.

High-yield

bonds

experienced

the

largest

setback.

U.S.

Treasury

inflation-protected

securities

(TIPS),

municipal

bonds

and

short-term

bonds

all

registered

smaller

losses.

All

sectors

in

the

benchmark

declined

All

of

the

sectors

in

the

Bloomberg

U.S.

1–3

Year

Government/Credit

Bond

Index

posted

negative

returns

for

the

six

months.

Short-term

Treasuries,

by

far

the

benchmark’s

largest

sector

with

a

weighting

of

67.6%,

returned

–2.1%.

Corporate

bonds—

the

second-largest

sector

with

a

weighting

of

22.6%—was

the

index’s

worst-performing

component

with

a

return

of

–2.2%.

Government

agency

bonds

performed

best

at

−2.0%,

while

government

credit

securities

returned

–2.2%.

Fund

slightly

underperformed

its

benchmark

For

the

six

months,

the

Fund

slightly

underperformed

its

benchmark.

The

Fund’s

return

includes

a

deduction

for

expenses,

while

the

benchmark’s

does

not.

The

Fund

seeks

to

maintain

the

overall

characteristics

of

its

benchmark.

The

Fund’s

managers

invest

in

the

same

sectors

that

are

included

in

the

benchmark

and

closely

match

the

benchmark’s

weightings

and

maturities.

At

times,

the

Fund

may

also

invest

in

securities

not

held

in

the

index,

but

which

have

investment

characteristics

that

are

similar

to

securities

held

in

the

index.

During

the

period,

this

portfolio

had

sector

returns

that

were

similar

to

its

benchmark,

enabling

it

to

resemble

the

index’s

performance.

Throughout

the

period,

the

Fund’s

managers

kept

the

Fund’s

duration—a

measure

of

its

sensitivity

to

interest-rate

changes—close

to

that

of

its

benchmark.

This

strategy

helped

the

Fund’s

risk

and

reward

characteristics

to

more

closely

resemble

those

of

its

benchmark.

Money

Market

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Money

Market

Fund returned

0.62%

for

the

Institutional

Class,

compared

with

the

0.52% return

of

its

benchmark,

the

iMoneyNet

Money

Fund

Averages™—All

Government.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

0.62% versus

0.53% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Portfolio

managers’

comments

16

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

concluded

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

Short-term

rates

are

expected

to

continue

rising

Although

inflation

presents

an

economic

challenge

for

the

United

States

in

2022,

the

increase

in

short-term

bond

yields

during

the

period—a

trend

that

is

expected

to

continue—was

a

positive

sign

for

money

market

investments.

Moreover,

the

Fed’s

policy

of

raising

short-term

rates

to

combat

inflation

should

continue

to

bode

well

for

yields

on

the

short-term

government

securities

in

which

the

Fund

invests.

Floating-rate

debt

securities,

which

made

up

approximately

one-third

of

the

Fund’s

portfolio

at

period-end,

stand

to

benefit

as

short-term

interest

rates

increase.

The

“secured

overnight

financing

rate”

(SOFR)—a

key

indicator

of

short-term

government

money

market

rates—increased

dramatically

from

0.30%

on

April

1,

2022,

to

2.98%

on

September

30,

2022.

Fund

outperformed

the

iMoneyNet

average

For

the

period,

the

return

of

the

Money

Market

Fund

surpassed

that

of

the

iMoneyNet

government

fund

average.

In

pursuit

of

additional

yield,

management

continued

its

strategy

of

holding

higher-yielding

floating-rate

government

agency

paper,

which

benefited

the

Fund’s

performance.

As

of

September

27,

2022,

the

Fund’s

weighted

average

maturity

was

31

days,

versus

18

days

for

the

iMoneyNet

government

fund

average.

iMoneyNet

releases

their

data

on

a

weekly

basis,

and

September

27

was

the

last

date

of

release

for

the

month.

Bond

Index

Fund

17

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Bond

Index

Fund

Inception

date

6

months

1

year

5

years

10

years

gross

net

Institutional

Class

9/14/09

-9.26%

-14.75%

-0.42%

0.74%

0.07%

0.07%

Advisor

Class

12/4/15

-9.30

-14.83

-0.52

0.68

†

0.17

0.17

Premier

Class

9/30/09

-9.33

-14.88

-0.55

0.59

0.22

0.22

Retirement

Class

9/14/09

-9.46

-15.04

-0.67

0.48

0.32

0.32

Retail

Class

9/14/09

-9.49

-15.06

-0.73

0.41

0.42

0.42

Class

W

9/28/18

-9.22

-14.68

-0.34

†

0.78

†

0.07

0.00

Bloomberg

U.S.

Aggregate

Bond

Index

–

-9.22

-14.60

-0.27

0.89

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

18.86

billion

Portfolio

turnover

rate

*

12%

Number

of

issues

8,142

Option-adjusted

duration

‡

6.23

years

Average

maturity

§

8.69

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Government

bonds

72.7

Corporate

bonds

24.2

Structured

assets

2.5

Short-term

investments,

other

assets

&

liabilities,

net

0.6

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

1.0

1-3

years

17.8

3-5

years

21.0

5-10

years

35.9

Over

10

years

24.3

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

U.S.

Treasury

&

U.S.

agency

securities*

68.8

Aaa/AAA

4.3

Aa/AA

3.2

A/A

11.0

Baa/BBB

12.7

Total

100.0

*

These

securities

are

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

government.

Core

Bond

Fund

18

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Core

Bond

Fund

Inception

date

6

months

1

year

5

years

10

years

gross

net

Institutional

Class

7/1/99

-9.63%

-15.15%

-0.11%

1.37%

0.29%

0.29%

Advisor

Class

12/4/15

-9.68

-15.17

-0.23

1.31

†

0.42

0.42

Premier

Class

9/30/09

-9.70

-15.28

-0.28

1.22

0.44

0.44

Retirement

Class

3/31/06

-9.73

-15.32

-0.35

1.12

0.54

0.54

Retail

Class

3/31/06

-9.77

-15.35

-0.39

1.08

0.59

0.59

Class

W

9/28/18

-9.50

-14.91

0.12

†

1.49

†

0.29

0.00

Bloomberg

U.S.

Aggregate

Bond

Index

–

-9.22

-14.60

-0.27

0.89

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

9.07

billion

Portfolio

turnover

rate

*

95%

Portfolio

turnover

rate,

excluding

mortgage

dollar-roll

transactions

*

60%

Number

of

issues

1,996

Option-adjusted

duration

‡

6.10

years

Average

maturity

§

8.98

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Government

bonds

45.5

Corporate

bonds

34.7

Structured

assets

15.9

Bank

loan

obligations

1.1

Preferred

stocks

0.1

Short-term

investments,

other

assets

&

liabilities,

net

2.7

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

1.5

1-3

years

17.1

3-5

years

14.4

5-10

years

43.3

Over

10

years

23.7

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

U.S.

Treasury

&

U.S.

agency

securities*

39.9

Aaa/AAA

5.2

Aa/AA

7.5

A/A

12.9

Baa/BBB

25.0

Ba/BB

4.5

B/B

2.4

Below

B/B

0.2

Non-rated

2.4

Total

100.0

*

These

securities

are

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

government.

19

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Core

Bond

Fund

concluded

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

Core

Impact

Bond

Fund

20

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Core

Impact

Bond

Fund

Inception

date

6

months

1

year

5

years

Since

inception

gross

net

Institutional

Class

9/21/12

-

9

.61

%

-

15

.14

%

-

0

.16

%

1

.49

%

0

.38

%

0

.38

%

Advisor

Class

12/4/15

-

9

.73

-

15

.27

-

0

.25

1

.43

†

0

.44

0

.44

Premier

Class

9/21/12

-

9

.78

-

15

.36

-

0

.35

1

.33

0

.58

0

.55

Retirement

Class

9/21/12

-

9

.81

-

15

.43

-

0

.41

1

.24

0

.63

0

.63

Retail

Class

9/21/12

-

9

.83

-

15

.46

-

0

.45

1

.20

0

.64

0

.64

Bloomberg

U.S.

Aggregate

Bond

Index

–

-

9

.22

-

14

.60

-

0

.27

0

.89

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

6.01

billion

Portfolio

turnover

rate

*

93%

Portfolio

turnover

rate,

excluding

mortgage

dollar-roll

transactions

*

67%

Number

of

issues

1,041

Option-adjusted

duration

‡

6.16

years

Average

maturity

§

9.45

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Government

bonds

52.3

Corporate

bonds

32.0

Structured

assets

13.1

Preferred

stocks

0.8

Bank

loan

obligations

0.6

Short-term

investments,

other

assets

&

liabilities,

net

1.2

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

4.3

1-3

years

13.4

3-5

years

13.8

5-10

years

43.7

Over

10

years

24.8

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

U.S.

Treasury

&

U.S.

agency

securities*

35.1

Aaa/AAA

10.3

Aa/AA

10.7

A/A

16.4

Baa/BBB

18.7

Ba/BB

2.9

B/B

0.4

Below

B/B

0.0

Non-rated

5.5

Total

100.0

*

These

securities

are

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

government.

21

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Core

Impact

Bond

Fund

concluded

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

Core

Plus

Bond

Fund

22

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Core

Plus

Bond

Fund

Inception

date

6

months

1

year

5

years

10

years

gross

net

Institutional

Class

3/31/06

-9.97%

-15.25%

0.04%

1.58%

0.30%

0.30%

Advisor

Class

12/4/15

-10.00

-15.30

-0.03

1.54

†

0.38

0.38

Premier

Class

9/30/09

-10.04

-15.38

-0.09

1.43

0.45

0.45

Retirement

Class

3/31/06

-9.97

-15.35

-0.18

1.34

0.55

0.55

Retail

Class

3/31/06

-10.09

-15.44

-0.25

1.27

0.61

0.61

Class

W

9/28/18

-9.84

-14.99

0.27

†

1.70

†

0.30

0.00

Bloomberg

U.S.

Aggregate

Bond

Index

–

-9.22

-14.60

-0.27

0.89

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

4.34

billion

Portfolio

turnover

rate

*

90%

Portfolio

turnover

rate,

excluding

mortgage

dollar-roll

transactions

*

72%

Number

of

issues

1,692

Option-adjusted

duration

‡

6.08

years

Average

maturity

§

8.89

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Government

bonds

38.5

Corporate

bonds

37.4

Structured

assets

18.1

Bank

loan

obligations

1.6

Preferred

stocks

0.2

Short-term

investments,

other

assets

&

liabilities,

net

4.2

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

2.8

1-3

years

11.1

3-5

years

16.1

5-10

years

45.4

Over

10

years

24.6

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

U.S.

Treasury

&

U.S.

agency

securities*

34.3

Aaa/AAA

3.3

Aa/AA

5.4

A/A

11.4

Baa/BBB

27.5

Ba/BB

9.6

B/B

4.3

Below

B/B

0.5

Non-rated

3.7

Total

100.0

*

These

securities

are

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

government.

23

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Core

Plus

Bond

Fund

concluded

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

24

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

5–15

Year

Laddered

Tax-

Exempt

Bond

Fund

Inception

date

6

months

1

year

5

years

10

years

gross

net

Institutional

Class

3/31/06

-

6

.16

%

-

12

.30

%

0

.29

%

1

.15

%

0

.33

%

0

.30

%

Advisor

Class

12/4/15

-

6

.21

-

12

.47

0

.19

1

.10

†

0

.43

0

.40

Retail

Class

3/31/06

-

6

.28

-

12

.58

0

.02

0

.88

0

.61

0

.58

Bloomberg

10-Year

Municipal

Bond

Index

–

-

4

.65

-

10

.10

0

.92

2

.05

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

243.02

million

Portfolio

turnover

rate

*

1%

Number

of

issues

247

Option-adjusted

duration

‡

5.32

years

Average

maturity

§

8.96

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Government

bonds

96.3

Short-term

investments,

other

assets

&

liabilities,

net

3.7

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

0.5

1-3

years

4.9

3-5

years

16.4

5-10

years

39.6

Over

10

years

38.6

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Aaa/AAA

1.1

Aa/AA

27.0

A/A

53.0

Baa/BBB

14.8

Ba/BB

3.3

B/B

0.1

Non-rated

0.7

Total

100.0

Green

Bond

Fund

25

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Green

Bond

Fund

Inception

date

6

months

1

year

since

inception

gross

net

Institutional

Class

11/16/18

-

9

.08

%

-

14

.50

%

0

.56

%

0

.81

%

0

.45

%

Advisor

Class

11/16/18

-

9

.09

-

14

.53

0

.53

0

.83

0

.60

Premier

Class

11/16/18

-

9

.15

-

14

.63

0

.43

0

.97

0

.60

Retirement

Class

11/16/18

-

9

.15

-

14

.63

0

.42

1

.06

0

.70

Retail

Class

11/16/18

-

9

.21

-

14

.74

0

.29

1

.33

0

.80

Bloomberg

MSCI

U.S.

Green

Bond

Index

–

-

8

.57

-

14

.43

0

.55

†

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

135.88

million

Portfolio

turnover

rate

*

16%

Number

of

issues

239

Option-adjusted

duration

‡

5.39

years

Average

maturity

§

8.01

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Corporate

bonds

55.8

Government

bonds

21.0

Structured

assets

15.7

Bank

loan

obligations

1.4

Preferred

stocks

0.8

Short-term

investments,

other

assets

&

liabilities,

net

5.3

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

5.3

1-3

years

17.9

3-5

years

17.4

5-10

years

40.1

Over

10

years

19.3

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

U.S.

Treasury

&

U.S.

agency

securities*

2.2

Aaa/AAA

16.0

Aa/AA

11.1

A/A

32.5

Baa/BBB

20.7

Ba/BB

5.5

B/B

0.5

Non-rated

11.5

Total

100.0

*

These

securities

are

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

government.

High-Yield

Fund

26

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

ICE

BofA

Index

composite

ratings

methodology,

which

is

a

simple

average

of

ratings

from Moody's,

Standard

&

Poor's and Fitch.

If

only

two

of

the

designated

agencies

rate

a

bond,

the

composite

rating

is

based

on

an

average

of

the

two.

Likewise,

if

only

one

of

the

designated

agencies

rates

a

bond,

the

composite

rating

is

based

on

that

one

rating.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

High-Yield

Fund

Inception

date

6

months

1

year

5

years

10

years

gross

net

Institutional

Class

3/31/06

-10.29%

-13.02%

1.03%

3.34%

0.36%

0.36%

Advisor

Class

12/4/15

-10.36

-13.14

0.91

3.26

†

0.47

0.47

Premier

Class

9/30/09

-10.34

-13.13

0.90

3.20

0.51

0.51

Retirement

Class

3/31/06

-10.40

-13.23

0.77

3.09

0.61

0.61

Retail

Class

3/31/06

-10.48

-13.28

0.74

3.06

0.65

0.65

Class

W

9/28/18

-10.13

-12.71

1.30

†

3.48

†

0.36

0.00

ICE

BofA

BB-B

U.S.

Cash

Pay

High

Yield

Constrained

Index

–

-10.17

-13.66

1.52

3.81

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

2.48

billion

Portfolio

turnover

rate

*

22%

Number

of

issues

312

Option-adjusted

duration

‡

4.22

years

Average

maturity

§

6.06

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Corporate

bonds

90.4

Bank

loan

obligations

5.2

Common

stocks

0.4

Short-term

investments,

other

assets

&

liabilities,

net

4.0

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

0.9

1-3

years

3.8

3-5

years

28.5

5-10

years

64.7

Over

10

years

2.1

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Baa/BBB

0.2

Ba/BB

54.2

B/B

42.5

Below

B/B

2.1

Non-rated

1.0

Total

100.0

Inflation-Linked

Bond

Fund

27

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Inflation-Linked

Bond

Fund

Inception

date

6

months

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

-7.08%

-7.17%

2.14%

0.85%

0.25%

0.25%

Advisor

Class

12/4/15

-7.13

-7.34

2.04

0.79

†

0.35

0.35

Premier

Class

9/30/09

-7.17

-7.32

1.98

0.70

0.40

0.40

Retirement

Class

3/31/06

-7.23

-7.43

1.87

0.60

0.50

0.50

Retail

Class

10/1/02

-7.27

-7.47

1.82

0.53

0.57

0.57

Class

W

9/28/18

-6.97

-6.95

2.33

†

0.94

†

0.25

0.00

Bloomberg

U.S.

Treasury

Inflation

Protected

Securities

(TIPS)

1-10

Year

Index

–

-7.22

-7.44

2.27

1.17

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

2.69

billion

Portfolio

turnover

rate

*

4%

Number

of

issues

48

Option-adjusted

duration

‡

4.41

years

Average

maturity

§

4.66

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Government

bonds

98.8

Short-term

investments,

other

assets

&

liabilities,

net

1.2

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

1.9

1-3

years

27.2

3-5

years

32.3

5-10

years

37.3

Over

10

years

1.3

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

U.S.

Treasury

&

U.S.

agency

securities*

99.6

Non-rated

0.4

Total

100.0

*

These

securities

are

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

government.

Short

Duration

Impact

Bond

Fund

28

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Short

Duration

Impact

Bond

Fund

Inception

date

6

months

1

year

since

inception

gross

net

Institutional

Class

11/16/18

-

2

.07

%

-

4

.93

%

1

.39

%

0

.96

%

0

.35

%

Advisor

Class

11/16/18

-

2

.09

-

4

.98

1

.35

1

.01

0

.50

Premier

Class

11/16/18

-

2

.15

-

5

.08

1

.23

1

.12

0

.50

Retirement

Class

11/16/18

-

2

.19

-

5

.16

1

.14

1

.22

0

.60

Retail

Class

11/16/18

-

2

.18

-

5

.16

1

.11

1

.89

0

.70

Bloomberg

U.S.

1-3

Year

Government/Credit

Bond

Index

–

-

2

.10

-

5

.07

0

.77

†

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

59.28

million

Portfolio

turnover

rate

*

103%

Number

of

issues

133

Option-adjusted

duration

‡

1.65

years

Average

maturity

§

2.54

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Government

bonds

59.0

Corporate

bonds

19.3

Structured

assets

17.5

Bank

loan

obligations

3.2

Short-term

investments,

other

assets

&

liabilities,

net

1.0

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

23.7

1-3

years

51.3

3-5

years

14.8

5-10

years

8.7

Over

10

years

1.5

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

U.S.

Treasury

&

U.S.

agency

securities*

36.3

Aaa/AAA

13.6

Aa/AA

7.7

A/A

10.0

Baa/BBB

8.5

Ba/BB

4.2

B/B

0.8

Non-rated

18.9

Total

100.0

*

These

securities

are

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

government.

Short-Term

Bond

Fund

29

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Short-Term

Bond

Fund

Inception

date

6

months

1

year

5

years

10

years

gross

net

Institutional

Class

3/31/06

-2.01%

-4.25%

1.07%

1.20%

0.26%

0.26%

Advisor

Class

12/4/15

-2.16

-4.43

0.98

1.14

†

0.35

0.35

Premier

Class

9/30/09

-2.08

-4.39

0.92

1.05

0.42

0.42

Retirement

Class

3/31/06

-2.13

-4.57

0.82

0.95

0.51

0.51

Retail

Class

3/31/06

-2.26

-4.60

0.75

0.89

0.57

0.57

Class

W

9/28/18

-1.88

-3.99

1.28

†

1.31

†

0.26

0.00

Bloomberg

U.S.

1-3

Year

Government/Credit

Bond

Index

–

-2.10

-5.07

0.70

0.81

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

1.86

billion

Portfolio

turnover

rate

*

65%

Number

of

issues

395

Option-adjusted

duration

‡

1.61

years

Average

maturity

§

2.36

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Government

bonds

39.7

Corporate

bonds

32.2

Structured

assets

22.5

Bank

loan

obligations

2.0

Short-term

investments,

other

assets

&

liabilities,

net

3.6

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

17.6

1-3

years

55.5

3-5

years

17.1

5-10

years

8.7

Over

10

years

1.1

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

U.S.

Treasury

&

U.S.

agency

securities*

25.6

Aaa/AAA

8.5

Aa/AA

13.7

A/A

23.2

Baa/BBB

20.2

Ba/BB

4.6

B/B

0.7

Below

B/B

0.1

Non-rated

3.4

Total

100.0

*

These

securities

are

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

government.

Short-Term

Bond

Fund

30

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

concluded

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

Short-Term

Bond

Index

Fund

31

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Short-Term

Bond

Index

Fund

Inception

date

6

months

1

year

5

years

since

inception

gross

net

Institutional

Class

8/7/15

-2.13%

-5.10%

0.61%

0.68%

0.09%

0.09%

Advisor

Class

12/4/15

-2.19

-5.31

0.46

0.56

†

0.20

0.20

Premier

Class

8/7/15

-2.21

-5.26

0.44

0.52

0.25

0.25

Retirement

Class

8/7/15

-2.25

-5.34

0.36

0.43

0.34

0.34

Retail

Class

8/7/15

-2.26

-5.46

0.26

0.34

0.82

0.46

Class

W

9/28/18

-2.09

-5.01

0.70

†

0.74

†

0.09

0.00

Bloomberg

U.S.

1-3

Year

Government/Credit

Bond

Index

–

-2.10

-5.07

0.70

0.81

‡

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W.

If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

‡

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

1.35

billion

Portfolio

turnover

rate

*

39%

Number

of

issues

680

Option-adjusted

duration

‡

1.89

years

Average

maturity

§

1.98

years

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio’s

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond’s

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

9/30/2022

Government

bonds

76.4

Corporate

bonds

23.1

Short-term

investments,

other

assets

&

liabilities,

net

0.5

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

Less

than

1

year

3.1

1-3

years

96.6

3-5

years

0.3

Total

100.0

%

of

fixed-income

investments

(excluding

short-term

investments)

as

of

9/30/2022

U.S.

Treasury

&

U.S.

agency

securities*

68.7

Aaa/AAA

4.4

Aa/AA

4.0

A/A

12.3

Baa/BBB

10.6

Total

100.0

*

These

securities

are

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

government.

Money

Market

Fund

32

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

the

7-day

current

and

effective

annualized

yields

and

total

returns

would

have

been

lower.

You

could

lose

money

by

investing

in

this

Fund.

Although

the

Fund

seeks

to

preserve

the

value

of

your

investment

at

$1.00

per

share,

it

cannot

guarantee

it

will

do

so.

An

investment

in

the Fund

is

not

insured

or

guaranteed

by

the

Federal

Deposit

Insurance

Corporation

(FDIC)

or

any

other

government

agency.

The Fund's

sponsor

has

no

legal

obligation

to

provide

support

to

the

Fund,

and

you

should

not

expect

that

the

sponsor

will

provide

financial

support

to

the Fund

at

any

time.

For

a

detailed

discussion

of

risk,

please

see

the

prospectus.

The

current

yield

more

closely

reflects

current

earnings

than

does

the

total

return.

Fund

profile

Portfolio

composition

Net

annualized

yield

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Money

Market

Fund

Inception

date

6

months

1

year

5

years

10

years

gross

net

Institutional

Class

7/1/99

0.62%

0.62%

1.02%

0.60%

0.13%

0.13%

Advisor

Class

12/4/15

0.60

0.60

1.02

0.59

†

0.23

0.23

Premier

Class

9/30/09

0.56

0.56

0.93

0.51

0.27

0.27

Retirement

Class

3/31/06

0.56

0.56

0.92

0.49

0.38

0.38

Retail

Class

3/31/06

0.48

0.48

0.82

0.43

0.48

0.48

iMoneyNet

Money

Fund

Averages™—All

Government

§

–

0.52

0.53

0.84

0.46

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Teachers

Advisors,

and

its

affiliates,

have

agreed

to

voluntarily

waive

a

portion

of

the

expenses

of

the

Fund

to

the

extent

needed

to

maintain

a

non-negative

yield.

This

waiver

may

be

terminated

at

any

time.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

§

The

iMoneyNet

Money

Fund

Averages—All

Government

is

a

simple

average

of

over

500

money

market

funds

that

invest

in

U.S.

Treasuries,

U.S.

Agencies,

repurchase

agreements

and

government-backed

floating-rate

notes.

You

cannot

invest

directly

in

it.

as

of

9/30/2022

Net

assets

$

1.52

billion

Number

of

issues

134

Sector

%

of

net

assets

as

of

9/30/2022

U.S.

government

agency

securities*

47.4

Floating-rate

securities,

government*

29.2

U.S.

Treasury

securities*

15.9

Repurchase

agreements

7.5

Other

assets

&

liabilities,

net

0.0

Total

100.0

*

These

securities

are

guaranteed

by

the

full

faith

and

credit

of

the

U.S.

government.

(for

the

7

days

ended

September

27,

2022)

‡

Current

yield

Effective

yield

Money

Market

Fund

Institutional

Class

2.38%

2.41%

Advisor

Class

2.34

2.37

Premier

Class

2.27

2.29

Retirement

Class

2.27

2.29

Retail

Class

2.09

2.11

iMoneyNet

Money

Fund

Averages™—

All

Government

§

2.39

2.42

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.

33

TIAA-CREF

Funds:

Fixed

Income

Funds

2022

Semiannual

Report

Expense

examples

All

shareholders

of

the

TIAA-CREF

Funds

incur

ongoing

costs,

including

management

fees

and

other

fund

expenses.

They

may

also

incur

transactional

costs

for

redemptions

or

account

maintenance

fees.

The

expense

examples

that

appear

in

this

report

are

intended

to

help

you

understand

your

ongoing

costs

only

(in

U.S.

dollars)

and

do

not

reflect

transactional

costs.

The

examples

are

designed

to

help

you

compare

these

ongoing

costs

with

the

ongoing

costs

of

investing

in

other

mutual

funds.

The

expenses

shown

do

not

include

account

maintenance

fees,

which

may

or

may

not

be

applicable,

as

described

in

the

prospectus.

If

such

fees

were

included,

your

total

costs

for

investing

in

the

funds

would

be

higher.

Note

also

that

shareholders

of

the

TIAA-CREF

Funds

do

not

incur

a

sales

charge

for

purchases,

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

(

April

1,

2022

–

September

30,

2022

).

Actual

expenses

The

first

section

in

each

table

uses

the

Fund’s

actual

expenses

and

its

actual

rate

of

return.

You

may

use

the

information

in

this

section,

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

section

in

each

table

shows

hypothetical

account

values

and

expenses

based

on

the

Fund’s

actual

expense

ratio

for

each

share

class

for

the

six-month

period

and

an

assumed

5%-per-year

rate

of

return

before

expenses.

This

was

not

the

share

class’

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

the

costs

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.

8.1

Bond

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$907.41

$906.95

$906.72

$905.40

$905.14

$907.75

Expenses

incurred

during

the

period*

$0.37

$0.84

$1.09

$1.56

$1.83

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.68

$1,024.18

$1,023.93

$1,023.43

$1,023.15

$1,025.06

Expenses

incurred

during

the

period*

$0.39

$0.90

$1.15

$1.66

$1.94

$0.01

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.08%

for

Institutional

Class,

0.18%

for

Advisor

Class,

0.23%

for

Premier

Class,

0.33%

for

Retirement

Class,

0.38%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

examples

34

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed

Income

Funds

continued

8.2

Core

Bond

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$903.72

$903.21

$903.04

$902.66

$902.34

$905.02

Expenses

incurred

during

the

period*

$1.37

$2.02

$2.08

$2.56

$2.77

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.63

$1,022.95

$1,022.88

$1,022.38

$1,022.15

$1,025.06

Expenses

incurred

during

the

period*

$1.45

$2.15

$2.21

$2.72

$2.95

$0.01

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.29%

for

Institutional

Class,

0.42%

for

Advisor

Class,

0.44%

for

Premier

Class,

0.54%

for

Retirement

Class,

0.58%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

8.3

Core

Impact

Bond

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$903.92

$902.72

$902.19

$901.86

$901.69

Expenses

incurred

during

the

period*

$1.72

$2.02

$2.57

$2.91

$2.97

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.26

$1,022.95

$1,022.37

$1,022.00

$1,021.94

Expenses

incurred

during

the

period*

$1.83

$2.15

$2.73

$3.10

$3.16

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.36%

for

Institutional

Class,

0.42%

for

Advisor

Class,

0.54%

for

Premier

Class,

0.61%

for

Retirement

Class

and

0.62%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

8.4

Core

Plus

Bond

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$900.27

$900.04

$899.59

$900.26

$899.05

$901.63

Expenses

incurred

during

the

period*

$1.43

$1.79

$2.14

$2.62

$2.95

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.56

$1,023.18

$1,022.81

$1,022.31

$1,021.96

$1,025.06

Expenses

incurred

during

the

period*

$1.52

$1.91

$2.28

$2.79

$3.14

$0.01

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.30%

for

Institutional

Class,

0.38%

for

Advisor

Class,

0.45%

for

Premier

Class,

0.55%

for

Retirement

Class,

0.62%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

35

TIAA-CREF

Funds:

Fixed

Income

Funds

2022

Semiannual

Report

Expense

examples

continued

8.5

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

Share

Class

Institutional

Class

Advisor

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$938.41

$937.95

$937.15

Expenses

incurred

during

the

period*

$1.46

$1.86

$2.82

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.56

$1,023.15

$1,022.15

Expenses

incurred

during

the

period*

$1.52

$1.94

$2.95

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.30%

for

Institutional

Class,

0.38%

for

Advisor

Class

and

0.58%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

8.6

Green

Bond

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$909.22

$909.08

$908.53

$908.47

$907.93

Expenses

incurred

during

the

period*

$2.00

$2.30

$2.72

$2.78

$3.35

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.97

$1,022.66

$1,022.22

$1,022.15

$1,021.56

Expenses

incurred

during

the

period*

$2.12

$2.44

$2.88

$2.95

$3.55

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.42%

for

Institutional

Class,

0.48%

for

Advisor

Class,

0.57%

for

Premier

Class,

0.58%

for

Retirement

Class

and

0.70%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

8.7

High-Yield

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$897.11

$896.39

$896.58

$895.98

$895.23

$898.67

Expenses

incurred

during

the

period*

$1.64

$2.25

$2.36

$2.83

$3.04

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.34

$1,022.70

$1,022.58

$1,022.08

$1,021.86

$1,025.06

Expenses

incurred

during

the

period*

$1.75

$2.40

$2.51

$3.02

$3.24

$0.01

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.35%

for

Institutional

Class,

0.47%

for

Advisor

Class,

0.50%

for

Premier

Class,

0.60%

for

Retirement

Class,

0.64%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

examples

36

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed

Income

Funds

continued

8.8

Inflation-Linked

Bond

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$929.16

$928.70

$928.33

$927.70

$927.34

$930.27

Expenses

incurred

during

the

period*

$1.12

$1.59

$1.85

$2.33

$2.62

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.91

$1,023.42

$1,023.15

$1,022.65

$1,022.35

$1,025.06

Expenses

incurred

during

the

period*

$1.17

$1.66

$1.94

$2.44

$2.75

$0.01

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.23%

for

Institutional

Class,

0.33%

for

Advisor

Class,

0.38%

for

Premier

Class,

0.48%

for

Retirement

Class,

0.54%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

8.9

Short

Duration

Impact

Bond

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$979.31

$979.07

$978.55

$978.06

$978.21

Expenses

incurred

during

the

period*

$1.69

$1.95

$2.45

$2.95

$2.79

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.36

$1,023.10

$1,022.59

$1,022.08

$1,022.24

Expenses

incurred

during

the

period*

$1.73

$1.99

$2.51

$3.02

$2.86

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.34%

for

Institutional

Class,

0.39%

for

Advisor

Class,

0.49%

for

Premier

Class,

0.60%

for

Retirement

Class

and

0.56%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

9.01

Short-Term

Bond

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$979.88

$978.43

$979.18

$978.69

$977.42

$981.18

Expenses

incurred

during

the

period*

$1.32

$1.78

$2.07

$2.56

$2.83

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.73

$1,023.27

$1,022.98

$1,022.48

$1,022.21

$1,025.06

Expenses

incurred

during

the

period*

$1.35

$1.82

$2.11

$2.62

$2.89

$0.01

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.27%

for

Institutional

Class,

0.36%

for

Advisor

Class,

0.42%

for

Premier

Class,

0.52%

for

Retirement

Class,

0.57%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

37

TIAA-CREF

Funds:

Fixed

Income

Funds

2022

Semiannual

Report

Expense

examples

concluded

9.1

Short-Term

Bond

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$978.69

$978.10

$977.90

$977.47

$977.36

$979.10

Expenses

incurred

during

the

period*

$0.42

$1.00

$1.17

$1.66

$1.72

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.64

$1,024.06

$1,023.88

$1,023.39

$1,023.33

$1,025.06

Expenses

incurred

during

the

period*

$0.43

$1.02

$1.20

$1.70

$1.76

$0.01

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.09%

for

Institutional

Class,

0.20%

for

Advisor

Class,

0.24%

for

Premier

Class,

0.34%

for

Retirement

Class,

0.35%

for

Retail

Class

and

0.00%

for

Class

W.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

9.2

Money

Market

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,006.23

$1,006.01

$1,005.64

$1,005.64

$1,004.77

Expenses

incurred

during

the

period*

$0.62

$0.83

$1.21

$1.21

$2.07

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.45

$1,024.24

$1,023.87

$1,023.87

$1,023.00

Expenses

incurred

during

the

period*

$0.62

$0.84

$1.22

$1.22

$2.09

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.12%

for

Institutional

Class,

0.17%

for

Advisor

Class,

0.24%

for

Premier

Class,

0.24%

for

Retirement

Class

and

0.41%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Bond

Index

Fund

September

30,

2022

Portfolio

of

investments

(unaudited)

38

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BONDS

-

99.4%

CORPORATE

BONDS

-

24

.2

%

AUTOMOBILES

&

COMPONENTS

-

0

.1

%

$

100,000

Aptiv

plc

4

.350

%

03/15/29

$

90,490‌

600,000

Aptiv

plc

3

.250

03/01/32

477,691‌

100,000

Aptiv

plc

4

.400

10/01/46

73,210‌

575,000

Aptiv

plc

5

.400

03/15/49

470,860‌

1,500,000

Aptiv

plc

3

.100

12/01/51

839,988‌

1,000,000

Aptiv

plc

4

.150

05/01/52

673,468‌

200,000

BorgWarner,

Inc

3

.375

03/15/25

191,567‌

1,650,000

BorgWarner,

Inc

2

.650

07/01/27

1,437,845‌

200,000

BorgWarner,

Inc

4

.375

03/15/45

151,322‌

125,000

General

Motors

Co

4

.875

10/02/23

124,485‌

500,000

General

Motors

Co

5

.400

10/02/23

500,050‌

500,000

General

Motors

Co

6

.125

10/01/25

500,217‌

500,000

e

General

Motors

Co

4

.200

10/01/27

457,773‌

500,000

General

Motors

Co

6

.800

10/01/27

505,305‌

700,000

General

Motors

Co

5

.000

10/01/28

643,908‌

375,000

General

Motors

Co

5

.400

10/15/29

345,768‌

450,000

General

Motors

Co

5

.600

10/15/32

401,691‌

900,000

General

Motors

Co

6

.600

04/01/36

841,433‌

700,000

General

Motors

Co

5

.150

04/01/38

563,121‌

150,000

General

Motors

Co

6

.250

10/02/43

130,294‌

175,000

General

Motors

Co

5

.200

04/01/45

133,249‌

350,000

General

Motors

Co

6

.750

04/01/46

318,678‌

500,000

General

Motors

Co

5

.400

04/01/48

390,258‌

900,000

General

Motors

Co

5

.950

04/01/49

750,717‌

175,000

Harley-Davidson,

Inc

3

.500

07/28/25

165,015‌

200,000

Harley-Davidson,

Inc

4

.625

07/28/45

146,511‌

2,000,000

Honda

Motor

Co

Ltd

2

.534

03/10/27

1,808,675‌

326,000

Lear

Corp

3

.800

09/15/27

297,476‌

400,000

Lear

Corp

4

.250

05/15/29

352,594‌

500,000

Lear

Corp

3

.500

05/30/30

410,203‌

600,000

e

Lear

Corp

2

.600

01/15/32

443,816‌

550,000

Lear

Corp

5

.250

05/15/49

435,574‌

1,000,000

Lear

Corp

3

.550

01/15/52

594,172‌

300,000

Magna

International,

Inc

3

.625

06/15/24

294,126‌

600,000

Magna

International,

Inc

4

.150

10/01/25

585,249‌

175,000

Magna

International,

Inc

2

.450

06/15/30

141,711‌

1,000,000

Toyota

Motor

Corp

1

.339

03/25/26

887,115‌

300,000

e

Toyota

Motor

Corp

3

.669

07/20/28

280,914‌

1,000,000

e

Toyota

Motor

Corp

2

.362

03/25/31

822,240‌

TOTAL

AUTOMOBILES

&

COMPONENTS

18,678,779‌

BANKS

-

4

.2

%

525,000

Australia

&

New

Zealand

Banking

Group

Ltd

3

.700

11/16/25

506,390‌

1,000,000

Banco

Bilbao

Vizcaya

Argentaria

S.A.

0

.875

09/18/23

960,850‌

1,000,000

Banco

Bilbao

Vizcaya

Argentaria

S.A.

1

.125

09/18/25

880,294‌

1,000,000

Banco

Bilbao

Vizcaya

Argentaria

S.A.

6

.138

09/14/28

965,133‌

1,000,000

Banco

Santander

S.A.

3

.892

05/24/24

973,390‌

800,000

Banco

Santander

S.A.

2

.706

06/27/24

763,693‌

600,000

Banco

Santander

S.A.

2

.746

05/28/25

548,610‌

400,000

Banco

Santander

S.A.

5

.179

11/19/25

385,933‌

1,600,000

Banco

Santander

S.A.

1

.849

03/25/26

1,381,567‌

600,000

Banco

Santander

S.A.

4

.250

04/11/27

551,310‌

1,600,000

Banco

Santander

S.A.

5

.294

08/18/27

1,507,125‌

1,200,000

Banco

Santander

S.A.

1

.722

09/14/27

992,729‌

675,000

Banco

Santander

S.A.

3

.800

02/23/28

584,928‌

1,000,000

Banco

Santander

S.A.

4

.175

03/24/28

901,121‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

39

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

1,800,000

Banco

Santander

S.A.

4

.379

%

04/12/28

$

1,605,406‌

600,000

Banco

Santander

S.A.

3

.306

06/27/29

509,194‌

400,000

Banco

Santander

S.A.

3

.490

05/28/30

320,864‌

2,000,000

Banco

Santander

S.A.

2

.749

12/03/30

1,414,170‌

1,000,000

e

Banco

Santander

S.A.

2

.958

03/25/31

758,303‌

2,000,000

Banco

Santander

S.A.

3

.225

11/22/32

1,401,846‌

10,300,000

Bank

of

America

Corp

3

.458

03/15/25

9,974,394‌

3,550,000

Bank

of

America

Corp

3

.950

04/21/25

3,422,811‌

2,000,000

Bank

of

America

Corp

3

.841

04/25/25

1,945,632‌

3,000,000

Bank

of

America

Corp

0

.981

09/25/25

2,729,500‌

3,000,000

Bank

of

America

Corp

3

.093

10/01/25

2,849,734‌

725,000

Bank

of

America

Corp

2

.456

10/22/25

678,806‌

4,000,000

Bank

of

America

Corp

3

.366

01/23/26

3,789,961‌

3,000,000

Bank

of

America

Corp

2

.015

02/13/26

2,750,049‌

5,000,000

Bank

of

America

Corp

1

.319

06/19/26

4,437,989‌

2,000,000

Bank

of

America

Corp

4

.827

07/22/26

1,955,388‌

4,500,000

Bank

of

America

Corp

1

.197

10/24/26

3,926,490‌

5,000,000

Bank

of

America

Corp

1

.658

03/11/27

4,332,480‌

7,800,000

Bank

of

America

Corp

3

.559

04/23/27

7,200,767‌

4,500,000

Bank

of

America

Corp

1

.734

07/22/27

3,860,680‌

2,000,000

Bank

of

America

Corp

2

.551

02/04/28

1,740,121‌

3,000,000

Bank

of

America

Corp

4

.376

04/27/28

2,811,107‌

2,000,000

Bank

of

America

Corp

3

.593

07/21/28

1,806,334‌

2,000,000

Bank

of

America

Corp

4

.948

07/22/28

1,921,668‌

5,690,000

Bank

of

America

Corp

3

.419

12/20/28

5,052,145‌

1,250,000

Bank

of

America

Corp

3

.970

03/05/29

1,130,872‌

3,000,000

Bank

of

America

Corp

2

.087

06/14/29

2,437,904‌

1,400,000

Bank

of

America

Corp

4

.271

07/23/29

1,276,513‌

3,075,000

Bank

of

America

Corp

3

.974

02/07/30

2,737,185‌

1,675,000

Bank

of

America

Corp

3

.194

07/23/30

1,411,713‌

1,050,000

Bank

of

America

Corp

2

.884

10/22/30

860,733‌

4,000,000

Bank

of

America

Corp

2

.496

02/13/31

3,156,251‌

1,750,000

Bank

of

America

Corp

2

.592

04/29/31

1,387,857‌

3,000,000

Bank

of

America

Corp

1

.898

07/23/31

2,233,829‌

3,000,000

Bank

of

America

Corp

1

.922

10/24/31

2,219,092‌

3,000,000

Bank

of

America

Corp

2

.651

03/11/32

2,333,388‌

4,000,000

Bank

of

America

Corp

2

.687

04/22/32

3,122,937‌

5,000,000

Bank

of

America

Corp

2

.299

07/21/32

3,736,673‌

3,000,000

Bank

of

America

Corp

2

.572

10/20/32

2,294,485‌

2,000,000

Bank

of

America

Corp

2

.972

02/04/33

1,563,502‌

1,000,000

Bank

of

America

Corp

4

.571

04/27/33

895,687‌

2,000,000

Bank

of

America

Corp

5

.015

07/22/33

1,855,305‌

4,000,000

Bank

of

America

Corp

2

.482

09/21/36

2,889,157‌

1,500,000

Bank

of

America

Corp

6

.110

01/29/37

1,443,709‌

3,000,000

Bank

of

America

Corp

3

.846

03/08/37

2,420,408‌

4,500,000

Bank

of

America

Corp

4

.078

04/23/40

3,570,681‌

6,000,000

Bank

of

America

Corp

2

.676

06/19/41

3,875,137‌

4,000,000

Bank

of

America

Corp

3

.311

04/22/42

2,812,109‌

1,500,000

Bank

of

America

Corp

5

.000

01/21/44

1,296,018‌

2,800,000

Bank

of

America

Corp

4

.443

01/20/48

2,268,088‌

3,000,000

Bank

of

America

Corp

3

.946

01/23/49

2,222,517‌

1,000,000

Bank

of

America

Corp

2

.831

10/24/51

594,916‌

1,950,000

Bank

of

America

Corp

3

.483

03/13/52

1,314,660‌

2,000,000

Bank

of

America

Corp

2

.972

07/21/52

1,226,640‌

1,425,000

Bank

of

Montreal

3

.300

02/05/24

1,393,476‌

1,000,000

Bank

of

Montreal

2

.500

06/28/24

958,789‌

750,000

Bank

of

Montreal

1

.850

05/01/25

690,016‌

1,500,000

Bank

of

Montreal

1

.250

09/15/26

1,282,481‌

1,000,000

Bank

of

Montreal

0

.949

01/22/27

865,096‌

2,000,000

e

Bank

of

Montreal

2

.650

03/08/27

1,783,422‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

40

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

4,000,000

Bank

of

Montreal

4

.700

%

09/14/27

$

3,859,913‌

750,000

Bank

of

Montreal

4

.338

10/05/28

739,696‌

425,000

Bank

of

Montreal

3

.803

12/15/32

368,529‌

2,000,000

Bank

of

Montreal

3

.088

01/10/37

1,491,403‌

750,000

Bank

of

Nova

Scotia

2

.200

02/03/25

700,146‌

1,500,000

Bank

of

Nova

Scotia

3

.450

04/11/25

1,436,704‌

2,000,000

Bank

of

Nova

Scotia

1

.300

06/11/25

1,798,605‌

1,550,000

Bank

of

Nova

Scotia

4

.500

12/16/25

1,495,686‌

2,000,000

Bank

of

Nova

Scotia

1

.050

03/02/26

1,743,042‌

2,000,000

Bank

of

Nova

Scotia

1

.350

06/24/26

1,742,391‌

1,000,000

e

Bank

of

Nova

Scotia

2

.700

08/03/26

910,283‌

3,000,000

Bank

of

Nova

Scotia

1

.300

09/15/26

2,573,133‌

1,000,000

Bank

of

Nova

Scotia

2

.450

02/02/32

760,494‌

750,000

Bank

of

Nova

Scotia

4

.588

05/04/37

628,835‌

525,000

Barclays

plc

4

.338

05/16/24

518,974‌

200,000

Barclays

plc

4

.375

09/11/24

193,597‌

2,000,000

Barclays

plc

1

.007

12/10/24

1,882,512‌

1,425,000

Barclays

plc

3

.650

03/16/25

1,348,164‌

2,750,000

Barclays

plc

3

.932

05/07/25

2,644,770‌

975,000

Barclays

plc

4

.375

01/12/26

919,426‌

2,000,000

Barclays

plc

2

.852

05/07/26

1,815,518‌

800,000

Barclays

plc

5

.200

05/12/26

758,558‌

2,000,000

Barclays

plc

2

.279

11/24/27

1,675,042‌

700,000

Barclays

plc

4

.337

01/10/28

623,685‌

1,975,000

Barclays

plc

4

.836

05/09/28

1,721,620‌

1,250,000

Barclays

plc

5

.501

08/09/28

1,171,796‌

1,500,000

Barclays

plc

4

.972

05/16/29

1,349,861‌

1,000,000

Barclays

plc

5

.088

06/20/30

869,361‌

2,000,000

Barclays

plc

2

.645

06/24/31

1,492,270‌

1,500,000

Barclays

plc

2

.667

03/10/32

1,096,205‌

2,000,000

Barclays

plc

2

.894

11/24/32

1,445,921‌

1,300,000

Barclays

plc

5

.746

08/09/33

1,180,976‌

1,750,000

Barclays

plc

3

.564

09/23/35

1,285,934‌

1,000,000

Barclays

plc

3

.811

03/10/42

623,994‌

775,000

Barclays

plc

5

.250

08/17/45

617,378‌

500,000

BBVA

USA

3

.875

04/10/25

484,144‌

675,000

BNP

Paribas

S.A.

3

.250

03/03/23

670,925‌

500,000

Canadian

Imperial

Bank

of

Commerce

3

.500

09/13/23

494,265‌

750,000

Canadian

Imperial

Bank

of

Commerce

3

.100

04/02/24

729,954‌

1,000,000

Canadian

Imperial

Bank

of

Commerce

2

.250

01/28/25

937,318‌

1,000,000

Canadian

Imperial

Bank

of

Commerce

3

.945

08/04/25

965,899‌

1,000,000

Canadian

Imperial

Bank

of

Commerce

0

.950

10/23/25

881,486‌

1,000,000

Canadian

Imperial

Bank

of

Commerce

1

.250

06/22/26

864,680‌

1,500,000

e

Canadian

Imperial

Bank

of

Commerce

3

.450

04/07/27

1,379,376‌

1,500,000

e

Canadian

Imperial

Bank

of

Commerce

3

.600

04/07/32

1,267,700‌

1,500,000

Citigroup,

Inc

4

.044

06/01/24

1,488,210‌

500,000

Citigroup,

Inc

4

.000

08/05/24

488,991‌

1,250,000

Citigroup,

Inc

0

.776

10/30/24

1,187,074‌

7,500,000

Citigroup,

Inc

3

.352

04/24/25

7,232,738‌

2,000,000

Citigroup,

Inc

0

.981

05/01/25

1,853,083‌

1,000,000

Citigroup,

Inc

3

.700

01/12/26

947,529‌

750,000

Citigroup,

Inc

4

.600

03/09/26

731,166‌

3,000,000

Citigroup,

Inc

3

.106

04/08/26

2,811,805‌

3,000,000

Citigroup,

Inc

5

.610

09/29/26

2,983,449‌

1,100,000

Citigroup,

Inc

4

.300

11/20/26

1,040,808‌

4,000,000

Citigroup,

Inc

1

.122

01/28/27

3,422,035‌

5,000,000

Citigroup,

Inc

1

.462

06/09/27

4,256,995‌

1,500,000

Citigroup,

Inc

4

.450

09/29/27

1,388,511‌

5,000,000

Citigroup,

Inc

3

.070

02/24/28

4,456,252‌

3,000,000

Citigroup,

Inc

4

.658

05/24/28

2,850,893‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

41

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

1,000,000

Citigroup,

Inc

3

.668

%

07/24/28

$

900,277‌

2,025,000

Citigroup,

Inc

4

.125

07/25/28

1,826,765‌

4,000,000

Citigroup,

Inc

4

.075

04/23/29

3,620,514‌

1,750,000

Citigroup,

Inc

3

.980

03/20/30

1,552,931‌

5,000,000

Citigroup,

Inc

2

.666

01/29/31

3,989,255‌

2,200,000

Citigroup,

Inc

4

.412

03/31/31

1,973,684‌

6,000,000

Citigroup,

Inc

2

.572

06/03/31

4,719,109‌

5,000,000

Citigroup,

Inc

2

.561

05/01/32

3,838,317‌

175,000

Citigroup,

Inc

6

.625

06/15/32

176,951‌

875,000

Citigroup,

Inc

2

.520

11/03/32

663,020‌

4,000,000

Citigroup,

Inc

3

.057

01/25/33

3,150,152‌

1,000,000

Citigroup,

Inc

3

.785

03/17/33

838,257‌

1,775,000

Citigroup,

Inc

4

.910

05/24/33

1,632,992‌

750,000

Citigroup,

Inc

3

.878

01/24/39

588,082‌

325,000

Citigroup,

Inc

8

.125

07/15/39

384,125‌

350,000

Citigroup,

Inc

5

.875

01/30/42

334,999‌

2,000,000

Citigroup,

Inc

2

.904

11/03/42

1,275,935‌

400,000

Citigroup,

Inc

6

.675

09/13/43

407,311‌

125,000

Citigroup,

Inc

5

.300

05/06/44

108,954‌

675,000

Citigroup,

Inc

4

.650

07/30/45

545,234‌

3,075,000

Citigroup,

Inc

4

.750

05/18/46

2,451,195‌

4,075,000

Citigroup,

Inc

4

.650

07/23/48

3,315,100‌

500,000

Citizens

Bank

NA

3

.700

03/29/23

496,970‌

350,000

Citizens

Bank

NA

2

.250

04/28/25

324,784‌

250,000

Citizens

Bank

NA

3

.750

02/18/26

238,112‌

1,000,000

Citizens

Bank

NA

4

.575

08/09/28

952,248‌

500,000

Citizens

Financial

Group,

Inc

2

.850

07/27/26

457,910‌

200,000

Citizens

Financial

Group,

Inc

2

.500

02/06/30

157,718‌

450,000

Citizens

Financial

Group,

Inc

3

.250

04/30/30

368,085‌

850,000

Citizens

Financial

Group,

Inc

2

.638

09/30/32

619,712‌

500,000

Citizens

Financial

Group,

Inc

5

.641

05/21/37

461,075‌

500,000

Comerica

Bank

2

.500

07/23/24

479,060‌

200,000

Comerica

Bank

4

.000

07/27/25

190,923‌

1,000,000

Comerica

Bank

5

.332

08/25/33

930,487‌

550,000

Comerica,

Inc

4

.000

02/01/29

510,345‌

2,000,000

Cooperatieve

Rabobank

UA

0

.375

01/12/24

1,889,553‌

300,000

Cooperatieve

Rabobank

UA

3

.875

08/22/24

293,840‌

2,050,000

Cooperatieve

Rabobank

UA

3

.375

05/21/25

1,971,093‌

600,000

Cooperatieve

Rabobank

UA

4

.375

08/04/25

573,323‌

2,700,000

Cooperatieve

Rabobank

UA

3

.750

07/21/26

2,487,252‌

550,000

Cooperatieve

Rabobank

UA

5

.250

05/24/41

541,801‌

400,000

Cooperatieve

Rabobank

UA

5

.750

12/01/43

364,779‌

1,600,000

Cooperatieve

Rabobank

UA

5

.250

08/04/45

1,359,621‌

1,350,000

Discover

Bank

4

.200

08/08/23

1,341,670‌

1,000,000

Discover

Bank

2

.450

09/12/24

945,838‌

200,000

Discover

Bank

4

.250

03/13/26

189,228‌

1,125,000

Discover

Bank

3

.450

07/27/26

1,024,124‌

300,000

Discover

Bank

4

.682

08/09/28

287,673‌

350,000

Discover

Bank

4

.650

09/13/28

317,448‌

325,000

Discover

Bank

2

.700

02/06/30

255,133‌

450,000

Fifth

Third

Bancorp

4

.300

01/16/24

445,535‌

675,000

Fifth

Third

Bancorp

3

.650

01/25/24

662,422‌

300,000

Fifth

Third

Bancorp

2

.550

05/05/27

266,742‌

1,000,000

Fifth

Third

Bancorp

1

.707

11/01/27

865,142‌

500,000

Fifth

Third

Bancorp

3

.950

03/14/28

466,616‌

1,000,000

Fifth

Third

Bancorp

4

.055

04/25/28

938,534‌

140,000

Fifth

Third

Bancorp

8

.250

03/01/38

165,770‌

300,000

Fifth

Third

Bank

3

.950

07/28/25

293,125‌

2,400,000

Fifth

Third

Bank

3

.850

03/15/26

2,266,931‌

1,000,000

Fifth

Third

Bank

2

.250

02/01/27

888,591‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

42

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

500,000

First

Citizens

BancShares,

Inc

3

.375

%

03/15/30

$

469,162‌

500,000

First

Horizon

Bank

5

.750

05/01/30

485,060‌

500,000

First

Horizon

National

Corp

4

.000

05/26/25

482,096‌

175,000

First

Republic

Bank

4

.375

08/01/46

135,983‌

33,000

HSBC

Bank

USA

NA

7

.000

01/15/39

34,719‌

2,625,000

HSBC

Holdings

plc

4

.250

03/14/24

2,569,503‌

2,325,000

e

HSBC

Holdings

plc

3

.950

05/18/24

2,295,275‌

850,000

HSBC

Holdings

plc

0

.976

05/24/25

780,939‌

450,000

HSBC

Holdings

plc

4

.250

08/18/25

426,990‌

2,000,000

HSBC

Holdings

plc

2

.633

11/07/25

1,856,908‌

1,875,000

HSBC

Holdings

plc

4

.300

03/08/26

1,796,390‌

825,000

HSBC

Holdings

plc

1

.645

04/18/26

733,643‌

2,475,000

HSBC

Holdings

plc

3

.900

05/25/26

2,319,614‌

1,500,000

HSBC

Holdings

plc

2

.099

06/04/26

1,343,204‌

1,100,000

HSBC

Holdings

plc

4

.292

09/12/26

1,037,443‌

450,000

HSBC

Holdings

plc

4

.375

11/23/26

418,872‌

4,000,000

HSBC

Holdings

plc

1

.589

05/24/27

3,342,980‌

3,000,000

HSBC

Holdings

plc

2

.251

11/22/27

2,520,567‌

3,925,000

HSBC

Holdings

plc

4

.041

03/13/28

3,541,416‌

1,500,000

HSBC

Holdings

plc

4

.755

06/09/28

1,378,323‌

1,500,000

HSBC

Holdings

plc

5

.210

08/11/28

1,402,309‌

5,000,000

HSBC

Holdings

plc

2

.013

09/22/28

3,996,319‌

2,775,000

HSBC

Holdings

plc

4

.583

06/19/29

2,473,589‌

1,600,000

HSBC

Holdings

plc

2

.206

08/17/29

1,238,024‌

4,000,000

HSBC

Holdings

plc

3

.973

05/22/30

3,385,285‌

3,000,000

HSBC

Holdings

plc

2

.848

06/04/31

2,296,381‌

750,000

HSBC

Holdings

plc

2

.357

08/18/31

551,220‌

2,350,000

HSBC

Holdings

plc

2

.804

05/24/32

1,726,689‌

3,500,000

HSBC

Holdings

plc

2

.871

11/22/32

2,549,498‌

1,500,000

HSBC

Holdings

plc

4

.762

03/29/33

1,231,165‌

825,000

HSBC

Holdings

plc

5

.402

08/11/33

733,585‌

300,000

HSBC

Holdings

plc

6

.500

05/02/36

283,935‌

2,700,000

HSBC

Holdings

plc

6

.500

09/15/37

2,540,318‌

200,000

HSBC

Holdings

plc

6

.800

06/01/38

191,254‌

550,000

HSBC

Holdings

plc

6

.100

01/14/42

528,652‌

1,175,000

HSBC

Holdings

plc

5

.250

03/14/44

952,083‌

1,250,000

HSBC

USA,

Inc

3

.500

06/23/24

1,218,381‌

500,000

Huntington

Bancshares,

Inc

4

.000

05/15/25

484,785‌

1,000,000

Huntington

Bancshares,

Inc

4

.443

08/04/28

944,214‌

1,000,000

Huntington

Bancshares,

Inc

2

.550

02/04/30

807,358‌

500,000

Huntington

Bancshares,

Inc

5

.023

05/17/33

463,279‌

500,000

Huntington

Bancshares,

Inc

2

.487

08/15/36

353,599‌

1,000,000

e

Huntington

National

Bank

4

.552

05/17/28

962,503‌

4,750,000

Industrial

&

Commercial

Bank

of

China

Ltd

3

.538

11/08/27

4,464,381‌

1,200,000

ING

Groep

NV

4

.100

10/02/23

1,185,012‌

575,000

ING

Groep

NV

3

.550

04/09/24

560,323‌

1,250,000

ING

Groep

NV

3

.950

03/29/27

1,149,750‌

1,500,000

ING

Groep

NV

1

.726

04/01/27

1,285,955‌

600,000

ING

Groep

NV

4

.017

03/28/28

544,784‌

500,000

ING

Groep

NV

4

.550

10/02/28

456,347‌

1,325,000

ING

Groep

NV

4

.050

04/09/29

1,167,093‌

475,000

ING

Groep

NV

2

.727

04/01/32

361,601‌

300,000

ING

Groep

NV

4

.252

03/28/33

254,289‌

500,000

JPMorgan

Chase

&

Co

3

.375

05/01/23

496,844‌

475,000

JPMorgan

Chase

&

Co

3

.875

02/01/24

469,385‌

1,525,000

JPMorgan

Chase

&

Co

3

.625

05/13/24

1,498,829‌

1,575,000

JPMorgan

Chase

&

Co

3

.797

07/23/24

1,553,471‌

2,675,000

JPMorgan

Chase

&

Co

3

.875

09/10/24

2,616,002‌

975,000

JPMorgan

Chase

&

Co

4

.023

12/05/24

959,366‌

625,000

JPMorgan

Chase

&

Co

3

.125

01/23/25

599,228‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

43

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

1,200,000

JPMorgan

Chase

&

Co

3

.220

%

03/01/25

$

1,161,303‌

2,125,000

JPMorgan

Chase

&

Co

3

.900

07/15/25

2,055,038‌

2,000,000

JPMorgan

Chase

&

Co

2

.301

10/15/25

1,875,546‌

2,500,000

JPMorgan

Chase

&

Co

2

.595

02/24/26

2,325,696‌

2,000,000

JPMorgan

Chase

&

Co

2

.005

03/13/26

1,831,593‌

3,125,000

JPMorgan

Chase

&

Co

3

.300

04/01/26

2,932,811‌

2,000,000

JPMorgan

Chase

&

Co

2

.083

04/22/26

1,822,177‌

4,000,000

JPMorgan

Chase

&

Co

4

.080

04/26/26

3,851,250‌

1,450,000

JPMorgan

Chase

&

Co

3

.200

06/15/26

1,346,120‌

1,000,000

JPMorgan

Chase

&

Co

2

.950

10/01/26

916,529‌

4,000,000

JPMorgan

Chase

&

Co

1

.045

11/19/26

3,459,738‌

1,350,000

JPMorgan

Chase

&

Co

4

.125

12/15/26

1,273,883‌

2,450,000

JPMorgan

Chase

&

Co

3

.960

01/29/27

2,311,779‌

4,000,000

JPMorgan

Chase

&

Co

1

.040

02/04/27

3,398,942‌

5,200,000

JPMorgan

Chase

&

Co

1

.578

04/22/27

4,489,185‌

3,000,000

JPMorgan

Chase

&

Co

1

.470

09/22/27

2,536,817‌

250,000

JPMorgan

Chase

&

Co

4

.250

10/01/27

234,325‌

325,000

JPMorgan

Chase

&

Co

3

.625

12/01/27

294,527‌

1,375,000

JPMorgan

Chase

&

Co

3

.782

02/01/28

1,260,647‌

1,000,000

JPMorgan

Chase

&

Co

2

.947

02/24/28

884,220‌

4,000,000

JPMorgan

Chase

&

Co

4

.323

04/26/28

3,748,417‌

425,000

JPMorgan

Chase

&

Co

3

.540

05/01/28

384,799‌

6,000,000

JPMorgan

Chase

&

Co

2

.182

06/01/28

5,102,984‌

2,000,000

JPMorgan

Chase

&

Co

4

.851

07/25/28

1,920,348‌

3,000,000

JPMorgan

Chase

&

Co

2

.069

06/01/29

2,432,126‌

2,050,000

JPMorgan

Chase

&

Co

4

.203

07/23/29

1,865,358‌

1,750,000

JPMorgan

Chase

&

Co

4

.452

12/05/29

1,601,694‌

4,500,000

JPMorgan

Chase

&

Co

3

.702

05/06/30

3,928,445‌

1,500,000

JPMorgan

Chase

&

Co

4

.565

06/14/30

1,382,293‌

2,000,000

JPMorgan

Chase

&

Co

2

.522

04/22/31

1,580,922‌

1,425,000

JPMorgan

Chase

&

Co

2

.956

05/13/31

1,128,737‌

5,000,000

JPMorgan

Chase

&

Co

1

.764

11/19/31

3,654,644‌

2,250,000

JPMorgan

Chase

&

Co

1

.953

02/04/32

1,664,394‌

3,000,000

JPMorgan

Chase

&

Co

2

.580

04/22/32

2,325,451‌

3,000,000

JPMorgan

Chase

&

Co

2

.545

11/08/32

2,276,446‌

6,000,000

JPMorgan

Chase

&

Co

2

.963

01/25/33

4,716,508‌

2,000,000

JPMorgan

Chase

&

Co

4

.586

04/26/33

1,799,625‌

2,000,000

JPMorgan

Chase

&

Co

4

.912

07/25/33

1,844,311‌

4,000,000

JPMorgan

Chase

&

Co

5

.717

09/14/33

3,782,578‌

958,000

JPMorgan

Chase

&

Co

5

.500

10/15/40

898,658‌

2,000,000

JPMorgan

Chase

&

Co

3

.109

04/22/41

1,385,577‌

4,500,000

JPMorgan

Chase

&

Co

2

.525

11/19/41

2,809,286‌

2,500,000

JPMorgan

Chase

&

Co

3

.157

04/22/42

1,711,684‌

1,000,000

JPMorgan

Chase

&

Co

5

.625

08/16/43

914,806‌

1,800,000

JPMorgan

Chase

&

Co

4

.950

06/01/45

1,501,478‌

2,050,000

JPMorgan

Chase

&

Co

4

.260

02/22/48

1,617,743‌

1,000,000

JPMorgan

Chase

&

Co

4

.032

07/24/48

758,685‌

4,500,000

JPMorgan

Chase

&

Co

3

.964

11/15/48

3,370,845‌

1,750,000

JPMorgan

Chase

&

Co

3

.897

01/23/49

1,295,846‌

2,000,000

JPMorgan

Chase

&

Co

3

.109

04/22/51

1,262,644‌

2,500,000

JPMorgan

Chase

&

Co

3

.328

04/22/52

1,648,068‌

750,000

e

JPMorgan

Chase

&

Co

6

.000

N/A‡

731,250‌

750,000

KeyBank

NA

3

.300

06/01/25

717,822‌

300,000

KeyBank

NA

3

.400

05/20/26

277,660‌

1,000,000

KeyBank

NA

3

.180

12/14/27

957,077‌

250,000

KeyBank

NA

3

.900

04/13/29

219,357‌

1,500,000

KeyBank

NA

4

.900

08/08/32

1,348,847‌

200,000

KeyCorp

4

.150

10/29/25

193,506‌

500,000

KeyCorp

4

.100

04/30/28

464,447‌

1,000,000

KeyCorp

2

.550

10/01/29

817,144‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

44

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

300,000

KeyCorp

4

.789

%

06/01/33

$

275,000‌

1,800,000

Lloyds

Banking

Group

plc

3

.900

03/12/24

1,761,435‌

2,750,000

Lloyds

Banking

Group

plc

4

.500

11/04/24

2,675,456‌

1,375,000

Lloyds

Banking

Group

plc

4

.450

05/08/25

1,327,868‌

325,000

Lloyds

Banking

Group

plc

4

.582

12/10/25

306,601‌

1,000,000

Lloyds

Banking

Group

plc

2

.438

02/05/26

918,763‌

1,000,000

Lloyds

Banking

Group

plc

3

.511

03/18/26

936,160‌

225,000

Lloyds

Banking

Group

plc

4

.650

03/24/26

211,698‌

1,250,000

Lloyds

Banking

Group

plc

4

.716

08/11/26

1,200,894‌

500,000

Lloyds

Banking

Group

plc

3

.750

01/11/27

457,072‌

2,000,000

Lloyds

Banking

Group

plc

1

.627

05/11/27

1,698,896‌

1,000,000

Lloyds

Banking

Group

plc

3

.750

03/18/28

898,881‌

2,700,000

Lloyds

Banking

Group

plc

4

.375

03/22/28

2,454,484‌

700,000

Lloyds

Banking

Group

plc

4

.550

08/16/28

637,657‌

1,825,000

Lloyds

Banking

Group

plc

3

.574

11/07/28

1,600,515‌

1,250,000

Lloyds

Banking

Group

plc

4

.976

08/11/33

1,092,247‌

1,550,000

Lloyds

Banking

Group

plc

4

.344

01/09/48

1,095,720‌

1,100,000

Manufacturers

&

Traders

Trust

Co

2

.900

02/06/25

1,048,654‌

1,175,000

Mitsubishi

UFJ

Financial

Group,

Inc

3

.761

07/26/23

1,163,348‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.801

07/18/24

959,487‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

0

.848

09/15/24

953,844‌

2,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.193

02/25/25

1,855,256‌

1,625,000

Mitsubishi

UFJ

Financial

Group,

Inc

3

.777

03/02/25

1,574,548‌

2,500,000

Mitsubishi

UFJ

Financial

Group,

Inc

1

.412

07/17/25

2,241,099‌

3,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

0

.953

07/19/25

2,760,285‌

750,000

Mitsubishi

UFJ

Financial

Group,

Inc

0

.962

10/11/25

682,929‌

207,000

Mitsubishi

UFJ

Financial

Group,

Inc

3

.850

03/01/26

196,362‌

225,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.757

09/13/26

203,027‌

650,000

Mitsubishi

UFJ

Financial

Group,

Inc

3

.677

02/22/27

601,692‌

2,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

1

.538

07/20/27

1,703,802‌

700,000

Mitsubishi

UFJ

Financial

Group,

Inc

3

.287

07/25/27

634,946‌

750,000

Mitsubishi

UFJ

Financial

Group,

Inc

1

.640

10/13/27

635,618‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.341

01/19/28

863,917‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

3

.961

03/02/28

917,058‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

4

.080

04/19/28

930,688‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

5

.017

07/20/28

959,717‌

300,000

Mitsubishi

UFJ

Financial

Group,

Inc

4

.050

09/11/28

273,955‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

5

.354

09/13/28

975,053‌

1,250,000

Mitsubishi

UFJ

Financial

Group,

Inc

3

.741

03/07/29

1,117,733‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

3

.195

07/18/29

843,820‌

1,500,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.559

02/25/30

1,203,601‌

1,250,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.048

07/17/30

952,729‌

1,700,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.309

07/20/32

1,273,579‌

500,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.494

10/13/32

378,643‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.852

01/19/33

774,902‌

1,000,000

e

Mitsubishi

UFJ

Financial

Group,

Inc

4

.315

04/19/33

876,903‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

5

.133

07/20/33

934,322‌

1,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

5

.472

09/13/33

961,993‌

300,000

Mitsubishi

UFJ

Financial

Group,

Inc

4

.286

07/26/38

257,227‌

500,000

Mitsubishi

UFJ

Financial

Group,

Inc

4

.153

03/07/39

411,652‌

1,425,000

Mitsubishi

UFJ

Financial

Group,

Inc

3

.751

07/18/39

1,115,979‌

1,750,000

Mizuho

Financial

Group,

Inc

1

.241

07/10/24

1,692,923‌

500,000

Mizuho

Financial

Group,

Inc

2

.555

09/13/25

469,706‌

500,000

Mizuho

Financial

Group,

Inc

2

.226

05/25/26

453,533‌

200,000

Mizuho

Financial

Group,

Inc

3

.663

02/28/27

182,304‌

1,000,000

Mizuho

Financial

Group,

Inc

1

.234

05/22/27

845,059‌

1,000,000

Mizuho

Financial

Group,

Inc

1

.554

07/09/27

850,447‌

725,000

Mizuho

Financial

Group,

Inc

4

.018

03/05/28

660,687‌

625,000

Mizuho

Financial

Group,

Inc

4

.254

09/11/29

566,532‌

1,000,000

Mizuho

Financial

Group,

Inc

3

.261

05/22/30

839,552‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

45

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

1,000,000

Mizuho

Financial

Group,

Inc

3

.153

%

07/16/30

$

830,417‌

500,000

Mizuho

Financial

Group,

Inc

2

.869

09/13/30

406,992‌

500,000

Mizuho

Financial

Group,

Inc

2

.591

05/25/31

391,143‌

1,000,000

Mizuho

Financial

Group,

Inc

2

.201

07/10/31

756,192‌

1,000,000

Mizuho

Financial

Group,

Inc

1

.979

09/08/31

738,386‌

700,000

Mizuho

Financial

Group,

Inc

2

.564

09/13/31

514,055‌

1,000,000

Mizuho

Financial

Group,

Inc

2

.172

05/22/32

733,498‌

500,000

Mizuho

Financial

Group,

Inc

2

.260

07/09/32

367,334‌

1,000,000

Mizuho

Financial

Group,

Inc

5

.669

09/13/33

961,722‌

300,000

National

Australia

Bank

Ltd

3

.375

01/14/26

285,711‌

750,000

National

Australia

Bank

Ltd

2

.500

07/12/26

685,332‌

1,000,000

National

Australia

Bank

Ltd

3

.905

06/09/27

953,927‌

1,000,000

National

Bank

of

Canada

0

.750

08/06/24

922,749‌

1,150,000

National

Bank

of

Canada

0

.550

11/15/24

1,088,664‌

800,000

Natwest

Group

plc

1

.642

06/14/27

671,642‌

800,000

Natwest

Group

plc

3

.032

11/28/35

566,852‌

700,000

NatWest

Group

plc

5

.516

09/30/28

664,352‌

300,000

People's

United

Bank

NA

4

.000

07/15/24

295,767‌

100,000

People's

United

Financial,

Inc

3

.650

12/06/22

99,997‌

600,000

PNC

Bank

NA

2

.950

02/23/25

573,002‌

550,000

PNC

Bank

NA

3

.250

06/01/25

526,732‌

903,000

PNC

Bank

NA

4

.050

07/26/28

828,275‌

475,000

PNC

Bank

NA

2

.700

10/22/29

390,443‌

500,000

PNC

Financial

Services

Group,

Inc

3

.500

01/23/24

492,052‌

300,000

PNC

Financial

Services

Group,

Inc

3

.900

04/29/24

295,627‌

500,000

PNC

Financial

Services

Group,

Inc

2

.200

11/01/24

475,008‌

1,500,000

PNC

Financial

Services

Group,

Inc

2

.600

07/23/26

1,368,272‌

3,000,000

PNC

Financial

Services

Group,

Inc

1

.150

08/13/26

2,608,682‌

300,000

e

PNC

Financial

Services

Group,

Inc

3

.150

05/19/27

275,234‌

1,575,000

PNC

Financial

Services

Group,

Inc

3

.450

04/23/29

1,409,243‌

2,000,000

PNC

Financial

Services

Group,

Inc

2

.550

01/22/30

1,646,741‌

750,000

PNC

Financial

Services

Group,

Inc

4

.626

06/06/33

669,055‌

825,000

PNC

Financial

Services

Group,

Inc

6

.200

N/A‡

779,625‌

300,000

Regions

Bank

6

.450

06/26/37

307,705‌

225,000

Regions

Financial

Corp

2

.250

05/18/25

208,387‌

1,000,000

Regions

Financial

Corp

1

.800

08/12/28

821,809‌

500,000

Royal

Bank

of

Canada

1

.600

04/17/23

492,972‌

850,000

Royal

Bank

of

Canada

3

.700

10/05/23

842,372‌

1,000,000

Royal

Bank

of

Canada

0

.425

01/19/24

948,511‌

1,000,000

Royal

Bank

of

Canada

2

.550

07/16/24

958,914‌

750,000

Royal

Bank

of

Canada

2

.250

11/01/24

709,752‌

1,000,000

Royal

Bank

of

Canada

3

.375

04/14/25

962,241‌

2,000,000

Royal

Bank

of

Canada

1

.150

06/10/25

1,804,761‌

1,000,000

Royal

Bank

of

Canada

0

.875

01/20/26

868,393‌

1,000,000

Royal

Bank

of

Canada

4

.650

01/27/26

972,950‌

2,000,000

Royal

Bank

of

Canada

1

.200

04/27/26

1,741,089‌

2,000,000

e

Royal

Bank

of

Canada

1

.150

07/14/26

1,724,284‌

1,500,000

Royal

Bank

of

Canada

1

.400

11/02/26

1,283,783‌

1,000,000

e

Royal

Bank

of

Canada

3

.625

05/04/27

930,341‌

1,000,000

Royal

Bank

of

Canada

4

.240

08/03/27

953,941‌

1,600,000

Royal

Bank

of

Canada

2

.300

11/03/31

1,230,217‌

500,000

Royal

Bank

of

Canada

3

.875

05/04/32

440,422‌

750,000

Royal

Bank

of

Scotland

Group

plc

4

.269

03/22/25

729,189‌

750,000

Royal

Bank

of

Scotland

Group

plc

4

.800

04/05/26

719,176‌

300,000

Royal

Bank

of

Scotland

Group

plc

3

.073

05/22/28

257,802‌

1,000,000

Royal

Bank

of

Scotland

Group

plc

4

.892

05/18/29

910,302‌

750,000

Royal

Bank

of

Scotland

Group

plc

3

.754

11/01/29

692,495‌

3,000,000

Royal

Bank

of

Scotland

Group

plc

5

.076

01/27/30

2,733,479‌

1,500,000

Royal

Bank

of

Scotland

Group

plc

4

.445

05/08/30

1,316,248‌

375,000

Santander

Holdings

USA,

Inc

3

.500

06/07/24

363,405‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

46

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

1,000,000

Santander

Holdings

USA,

Inc

3

.450

%

06/02/25

$

936,075‌

775,000

Santander

Holdings

USA,

Inc

4

.500

07/17/25

741,351‌

1,850,000

Santander

Holdings

USA,

Inc

3

.244

10/05/26

1,655,443‌

650,000

Santander

Holdings

USA,

Inc

4

.400

07/13/27

597,879‌

2,000,000

Santander

Holdings

USA,

Inc

2

.490

01/06/28

1,667,841‌

775,000

Santander

UK

Group

Holdings

plc

3

.373

01/05/24

769,987‌

1,000,000

Santander

UK

Group

Holdings

plc

1

.532

08/21/26

867,015‌

1,000,000

Santander

UK

Group

Holdings

plc

1

.673

06/14/27

831,368‌

2,000,000

Santander

UK

Group

Holdings

plc

2

.469

01/11/28

1,664,552‌

500,000

Santander

UK

Group

Holdings

plc

3

.823

11/03/28

429,504‌

750,000

Santander

UK

Group

Holdings

plc

2

.896

03/15/32

558,300‌

800,000

Sumitomo

Mitsui

Banking

Corp

3

.000

01/18/23

796,997‌

300,000

Sumitomo

Mitsui

Banking

Corp

3

.950

01/10/24

296,315‌

500,000

Sumitomo

Mitsui

Banking

Corp

3

.400

07/11/24

485,659‌

250,000

Sumitomo

Mitsui

Banking

Corp

3

.650

07/23/25

238,865‌

900,000

Sumitomo

Mitsui

Financial

Group,

Inc

3

.748

07/19/23

892,565‌

1,000,000

Sumitomo

Mitsui

Financial

Group,

Inc

0

.508

01/12/24

942,021‌

1,000,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.448

09/27/24

945,059‌

1,000,000

Sumitomo

Mitsui

Financial

Group,

Inc

0

.948

01/12/26

865,973‌

1,300,000

Sumitomo

Mitsui

Financial

Group,

Inc

3

.784

03/09/26

1,233,937‌

1,000,000

Sumitomo

Mitsui

Financial

Group,

Inc

1

.402

09/17/26

853,059‌

700,000

Sumitomo

Mitsui

Financial

Group,

Inc

3

.010

10/19/26

636,837‌

725,000

Sumitomo

Mitsui

Financial

Group,

Inc

3

.446

01/11/27

664,347‌

1,000,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.174

01/14/27

871,098‌

775,000

Sumitomo

Mitsui

Financial

Group,

Inc

3

.364

07/12/27

704,397‌

500,000

Sumitomo

Mitsui

Financial

Group,

Inc

3

.352

10/18/27

447,315‌

675,000

Sumitomo

Mitsui

Financial

Group,

Inc

3

.544

01/17/28

609,947‌

750,000

e

Sumitomo

Mitsui

Financial

Group,

Inc

3

.944

07/19/28

687,645‌

1,500,000

Sumitomo

Mitsui

Financial

Group,

Inc

1

.902

09/17/28

1,207,986‌

500,000

Sumitomo

Mitsui

Financial

Group,

Inc

4

.306

10/16/28

470,878‌

1,500,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.472

01/14/29

1,230,571‌

1,500,000

Sumitomo

Mitsui

Financial

Group,

Inc

3

.040

07/16/29

1,259,387‌

500,000

Sumitomo

Mitsui

Financial

Group,

Inc

3

.202

09/17/29

417,754‌

1,000,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.724

09/27/29

818,881‌

1,500,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.750

01/15/30

1,214,846‌

1,500,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.130

07/08/30

1,148,878‌

1,000,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.142

09/23/30

748,366‌

1,000,000

Sumitomo

Mitsui

Financial

Group,

Inc

1

.710

01/12/31

727,928‌

1,500,000

e

Sumitomo

Mitsui

Financial

Group,

Inc

2

.222

09/17/31

1,121,989‌

1,500,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.296

01/12/41

917,730‌

1,000,000

e

Sumitomo

Mitsui

Financial

Group,

Inc

2

.930

09/17/41

663,186‌

1,500,000

e

Sumitomo

Mitsui

Financial

Group,

Inc

3

.050

01/14/42

1,025,725‌

1,000,000

SVB

Financial

Group

1

.800

10/28/26

859,384‌

500,000

SVB

Financial

Group

4

.345

04/29/28

464,745‌

750,000

SVB

Financial

Group

2

.100

05/15/28

607,638‌

300,000

SVB

Financial

Group

3

.125

06/05/30

241,663‌

500,000

e

SVB

Financial

Group

4

.570

04/29/33

438,152‌

889,000

Svenska

Handelsbanken

AB

3

.900

11/20/23

880,464‌

1,000,000

Synchrony

Bank

5

.625

08/23/27

957,341‌

1,000,000

Synovus

Financial

Corp

5

.200

08/11/25

981,035‌

500,000

Toronto-Dominion

Bank

3

.500

07/19/23

496,120‌

1,525,000

Toronto-Dominion

Bank

3

.250

03/11/24

1,487,401‌

1,250,000

Toronto-Dominion

Bank

2

.650

06/12/24

1,200,466‌

1,000,000

Toronto-Dominion

Bank

1

.150

06/12/25

898,721‌

1,000,000

Toronto-Dominion

Bank

0

.750

09/11/25

881,681‌

2,000,000

Toronto-Dominion

Bank

0

.750

01/06/26

1,735,322‌

2,000,000

Toronto-Dominion

Bank

1

.200

06/03/26

1,735,327‌

1,500,000

Toronto-Dominion

Bank

1

.250

09/10/26

1,284,380‌

1,000,000

Toronto-Dominion

Bank

1

.950

01/12/27

870,021‌

1,000,000

Toronto-Dominion

Bank

2

.800

03/10/27

901,005‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

47

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

3,000,000

Toronto-Dominion

Bank

4

.108

%

06/08/27

$

2,828,582‌

1,500,000

Toronto-Dominion

Bank

4

.693

09/15/27

1,450,036‌

1,500,000

Toronto-Dominion

Bank

2

.000

09/10/31

1,119,522‌

1,000,000

Toronto-Dominion

Bank

3

.625

09/15/31

911,556‌

1,000,000

Toronto-Dominion

Bank

2

.450

01/12/32

770,534‌

500,000

Toronto-Dominion

Bank

3

.200

03/10/32

409,745‌

800,000

Toronto-Dominion

Bank

4

.456

06/08/32

730,483‌

500,000

Truist

Bank

3

.000

02/02/23

498,324‌

500,000

Truist

Bank

3

.689

08/02/24

494,567‌

750,000

Truist

Bank

2

.150

12/06/24

705,719‌

1,000,000

Truist

Bank

1

.500

03/10/25

919,444‌

500,000

Truist

Bank

3

.625

09/16/25

476,722‌

200,000

Truist

Bank

4

.050

11/03/25

194,095‌

375,000

Truist

Bank

3

.300

05/15/26

347,837‌

500,000

Truist

Bank

3

.800

10/30/26

470,221‌

750,000

Truist

Bank

2

.636

09/17/29

698,796‌

475,000

Truist

Bank

2

.250

03/11/30

372,316‌

1,000,000

Truist

Financial

Corp

2

.500

08/01/24

957,692‌

825,000

Truist

Financial

Corp

2

.850

10/26/24

793,748‌

900,000

Truist

Financial

Corp

4

.000

05/01/25

875,860‌

975,000

Truist

Financial

Corp

3

.700

06/05/25

941,197‌

750,000

Truist

Financial

Corp

1

.200

08/05/25

674,167‌

1,000,000

Truist

Financial

Corp

4

.260

07/28/26

972,545‌

1,300,000

Truist

Financial

Corp

1

.267

03/02/27

1,130,064‌

1,000,000

Truist

Financial

Corp

1

.125

08/03/27

818,676‌

750,000

Truist

Financial

Corp

4

.123

06/06/28

704,668‌

500,000

Truist

Financial

Corp

3

.875

03/19/29

452,131‌

2,000,000

Truist

Financial

Corp

1

.887

06/07/29

1,636,188‌

1,000,000

Truist

Financial

Corp

4

.916

07/28/33

903,915‌

125,000

US

Bancorp

3

.700

01/30/24

123,678‌

1,225,000

US

Bancorp

3

.375

02/05/24

1,203,921‌

2,225,000

US

Bancorp

3

.600

09/11/24

2,183,397‌

125,000

US

Bancorp

3

.950

11/17/25

121,808‌

750,000

US

Bancorp

3

.100

04/27/26

700,757‌

700,000

US

Bancorp

2

.375

07/22/26

639,628‌

1,175,000

US

Bancorp

3

.150

04/27/27

1,092,715‌

750,000

US

Bancorp

3

.900

04/26/28

706,714‌

600,000

US

Bancorp

3

.000

07/30/29

515,893‌

2,500,000

US

Bancorp

1

.375

07/22/30

1,879,154‌

750,000

US

Bank

NA

2

.800

01/27/25

717,641‌

1,000,000

Valley

National

Bancorp

3

.000

06/15/31

884,334‌

125,000

Wachovia

Corp

5

.500

08/01/35

115,664‌

200,000

Webster

Financial

Corp

4

.100

03/25/29

181,025‌

334,000

Wells

Fargo

&

Co

4

.480

01/16/24

332,125‌

2,700,000

Wells

Fargo

&

Co

3

.300

09/09/24

2,603,591‌

4,100,000

Wells

Fargo

&

Co

3

.000

02/19/25

3,897,067‌

1,125,000

Wells

Fargo

&

Co

3

.550

09/29/25

1,069,856‌

2,000,000

Wells

Fargo

&

Co

2

.406

10/30/25

1,867,077‌

1,500,000

Wells

Fargo

&

Co

2

.164

02/11/26

1,381,064‌

3,350,000

Wells

Fargo

&

Co

3

.000

04/22/26

3,069,673‌

2,000,000

Wells

Fargo

&

Co

3

.908

04/25/26

1,911,935‌

1,000,000

Wells

Fargo

&

Co

2

.188

04/30/26

913,272‌

1,250,000

Wells

Fargo

&

Co

4

.100

06/03/26

1,189,314‌

1,700,000

Wells

Fargo

&

Co

4

.540

08/15/26

1,644,589‌

2,575,000

Wells

Fargo

&

Co

3

.000

10/23/26

2,333,960‌

1,500,000

Wells

Fargo

&

Co

3

.196

06/17/27

1,365,857‌

1,200,000

Wells

Fargo

&

Co

4

.300

07/22/27

1,121,927‌

1,300,000

Wells

Fargo

&

Co

3

.526

03/24/28

1,177,432‌

3,625,000

Wells

Fargo

&

Co

3

.584

05/22/28

3,278,650‌

5,000,000

Wells

Fargo

&

Co

2

.393

06/02/28

4,287,989‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

48

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

1,000,000

Wells

Fargo

&

Co

4

.808

%

07/25/28

$

953,725‌

6,175,000

Wells

Fargo

&

Co

4

.150

01/24/29

5,679,719‌

3,950,000

Wells

Fargo

&

Co

2

.879

10/30/30

3,245,468‌

3,000,000

Wells

Fargo

&

Co

2

.572

02/11/31

2,401,335‌

5,000,000

Wells

Fargo

&

Co

4

.478

04/04/31

4,573,500‌

6,000,000

Wells

Fargo

&

Co

3

.350

03/02/33

4,865,809‌

2,500,000

Wells

Fargo

&

Co

4

.897

07/25/33

2,304,834‌

7,025,000

Wells

Fargo

&

Co

3

.068

04/30/41

4,821,584‌

1,050,000

Wells

Fargo

&

Co

5

.375

11/02/43

909,107‌

1,468,000

Wells

Fargo

&

Co

5

.606

01/15/44

1,320,054‌

475,000

Wells

Fargo

&

Co

4

.650

11/04/44

377,418‌

1,500,000

Wells

Fargo

&

Co

3

.900

05/01/45

1,112,193‌

950,000

Wells

Fargo

&

Co

4

.900

11/17/45

776,926‌

3,250,000

Wells

Fargo

&

Co

4

.400

06/14/46

2,477,480‌

1,975,000

Wells

Fargo

&

Co

4

.750

12/07/46

1,579,388‌

1,500,000

Wells

Fargo

&

Co

5

.013

04/04/51

1,294,761‌

2,000,000

Wells

Fargo

&

Co

4

.611

04/25/53

1,624,877‌

250,000

Wells

Fargo

Bank

NA

6

.600

01/15/38

261,074‌

1,000,000

Western

Alliance

Bancorp

3

.000

06/15/31

863,193‌

300,000

Westpac

Banking

Corp

2

.750

01/11/23

298,835‌

2,000,000

Westpac

Banking

Corp

2

.350

02/19/25

1,893,193‌

1,000,000

Westpac

Banking

Corp

2

.850

05/13/26

931,236‌

2,000,000

Westpac

Banking

Corp

1

.150

06/03/26

1,747,706‌

675,000

Westpac

Banking

Corp

2

.700

08/19/26

618,586‌

850,000

Westpac

Banking

Corp

3

.350

03/08/27

793,080‌

1,500,000

e

Westpac

Banking

Corp

4

.043

08/26/27

1,440,206‌

725,000

Westpac

Banking

Corp

3

.400

01/25/28

667,137‌

2,000,000

Westpac

Banking

Corp

1

.953

11/20/28

1,662,541‌

1,000,000

Westpac

Banking

Corp

2

.894

02/04/30

919,551‌

1,500,000

e

Westpac

Banking

Corp

2

.150

06/03/31

1,195,408‌

950,000

Westpac

Banking

Corp

4

.322

11/23/31

866,294‌

1,000,000

Westpac

Banking

Corp

5

.405

08/10/33

896,780‌

600,000

Westpac

Banking

Corp

4

.110

07/24/34

510,597‌

2,350,000

Westpac

Banking

Corp

2

.668

11/15/35

1,728,712‌

500,000

Westpac

Banking

Corp

3

.020

11/18/36

365,792‌

900,000

Westpac

Banking

Corp

4

.421

07/24/39

722,638‌

225,000

Westpac

Banking

Corp

2

.963

11/16/40

143,643‌

400,000

Zions

Bancorp

NA

3

.250

10/29/29

328,555‌

TOTAL

BANKS

791,029,481‌

CAPITAL

GOODS

-

1

.2

%

600,000

e

3M

Co

3

.250

02/14/24

588,220‌

1,000,000

3M

Co

2

.000

02/14/25

935,330‌

1,200,000

e

3M

Co

3

.000

08/07/25

1,140,621‌

675,000

e

3M

Co

2

.875

10/15/27

605,100‌

925,000

e

3M

Co

3

.625

09/14/28

846,159‌

500,000

e

3M

Co

3

.375

03/01/29

443,410‌

1,000,000

e

3M

Co

2

.375

08/26/29

819,443‌

200,000

3M

Co

3

.125

09/19/46

132,428‌

300,000

3M

Co

3

.625

10/15/47

215,480‌

1,150,000

e

3M

Co

4

.000

09/14/48

898,122‌

875,000

e

3M

Co

3

.250

08/26/49

586,147‌

820,000

e

3M

Co

3

.700

04/15/50

596,286‌

1,000,000

Acuity

Brands

Lighting,

Inc

2

.150

12/15/30

740,110‌

200,000

Air

Lease

Corp

2

.750

01/15/23

198,850‌

750,000

Air

Lease

Corp

3

.875

07/03/23

743,573‌

2,000,000

Air

Lease

Corp

0

.700

02/15/24

1,868,548‌

750,000

Air

Lease

Corp

2

.300

02/01/25

690,087‌

750,000

Air

Lease

Corp

3

.375

07/01/25

698,802‌

1,000,000

Air

Lease

Corp

2

.875

01/15/26

895,166‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

49

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CAPITAL

GOODS—continued

$

1,000,000

Air

Lease

Corp

3

.750

%

06/01/26

$

914,109‌

1,500,000

Air

Lease

Corp

1

.875

08/15/26

1,271,219‌

1,000,000

Air

Lease

Corp

2

.200

01/15/27

846,680‌

500,000

Air

Lease

Corp

3

.625

04/01/27

443,008‌

200,000

Air

Lease

Corp

3

.625

12/01/27

172,994‌

300,000

Air

Lease

Corp

4

.625

10/01/28

269,292‌

500,000

Air

Lease

Corp

3

.250

10/01/29

406,963‌

750,000

Air

Lease

Corp

3

.000

02/01/30

593,936‌

500,000

Air

Lease

Corp

3

.125

12/01/30

393,686‌

200,000

Aircastle

Ltd

4

.400

09/25/23

196,316‌

1,000,000

Aircastle

Ltd

4

.125

05/01/24

960,918‌

500,000

Aircastle

Ltd

4

.250

06/15/26

448,474‌

500,000

Allegion

plc

3

.500

10/01/29

423,810‌

2,100,000

Boeing

Co

4

.508

05/01/23

2,092,650‌

1,500,000

Boeing

Co

1

.950

02/01/24

1,439,151‌

2,000,000

Boeing

Co

1

.433

02/04/24

1,899,915‌

300,000

Boeing

Co

2

.800

03/01/24

289,632‌

5,700,000

Boeing

Co

4

.875

05/01/25

5,561,540‌

400,000

e

Boeing

Co

2

.600

10/30/25

365,009‌

2,000,000

Boeing

Co

2

.750

02/01/26

1,810,551‌

3,000,000

Boeing

Co

2

.196

02/04/26

2,662,313‌

300,000

Boeing

Co

3

.100

05/01/26

273,871‌

200,000

Boeing

Co

2

.250

06/15/26

175,773‌

500,000

Boeing

Co

2

.700

02/01/27

433,668‌

250,000

Boeing

Co

2

.800

03/01/27

219,590‌

1,900,000

Boeing

Co

5

.040

05/01/27

1,830,387‌

1,500,000

Boeing

Co

3

.250

02/01/28

1,308,356‌

500,000

Boeing

Co

3

.250

03/01/28

432,859‌

125,000

Boeing

Co

3

.450

11/01/28

107,683‌

600,000

Boeing

Co

3

.200

03/01/29

500,970‌

750,000

Boeing

Co

2

.950

02/01/30

602,951‌

1,600,000

Boeing

Co

5

.150

05/01/30

1,480,076‌

1,000,000

Boeing

Co

3

.625

02/01/31

830,049‌

300,000

Boeing

Co

3

.600

05/01/34

224,870‌

425,000

Boeing

Co

3

.250

02/01/35

300,158‌

500,000

Boeing

Co

3

.550

03/01/38

342,489‌

600,000

Boeing

Co

3

.500

03/01/39

400,589‌

350,000

Boeing

Co

5

.875

02/15/40

301,546‌

2,000,000

Boeing

Co

5

.705

05/01/40

1,746,925‌

300,000

Boeing

Co

3

.375

06/15/46

185,213‌

250,000

Boeing

Co

3

.650

03/01/47

157,862‌

100,000

Boeing

Co

3

.625

03/01/48

62,190‌

100,000

Boeing

Co

3

.850

11/01/48

64,726‌

5,000,000

Boeing

Co

5

.805

05/01/50

4,344,959‌

125,000

Boeing

Co

3

.825

03/01/59

75,297‌

750,000

Boeing

Co

3

.950

08/01/59

465,938‌

4,500,000

Boeing

Co

5

.930

05/01/60

3,849,335‌

100,000

Carlisle

Cos,

Inc

3

.750

11/15/22

99,995‌

200,000

Carlisle

Cos,

Inc

3

.500

12/01/24

192,501‌

1,000,000

Carlisle

Cos,

Inc

2

.750

03/01/30

816,683‌

1,000,000

Carlisle

Cos,

Inc

2

.200

03/01/32

744,143‌

1,444,000

Carrier

Global

Corp

2

.493

02/15/27

1,280,015‌

1,100,000

Carrier

Global

Corp

2

.722

02/15/30

907,977‌

150,000

Carrier

Global

Corp

2

.700

02/15/31

120,587‌

2,000,000

Carrier

Global

Corp

3

.377

04/05/40

1,445,915‌

900,000

Carrier

Global

Corp

3

.577

04/05/50

623,049‌

1,000,000

Caterpillar

Financial

Services

Corp

2

.850

05/17/24

973,306‌

1,000,000

Caterpillar

Financial

Services

Corp

3

.400

05/13/25

966,362‌

1,000,000

Caterpillar

Financial

Services

Corp

1

.450

05/15/25

923,465‌

1,000,000

Caterpillar

Financial

Services

Corp

0

.800

11/13/25

886,051‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

50

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CAPITAL

GOODS—continued

$

3,000,000

Caterpillar

Financial

Services

Corp

0

.900

%

03/02/26

$

2,643,647‌

500,000

Caterpillar

Financial

Services

Corp

2

.400

08/09/26

457,953‌

2,000,000

Caterpillar

Financial

Services

Corp

1

.150

09/14/26

1,742,853‌

1,000,000

Caterpillar

Financial

Services

Corp

3

.600

08/12/27

944,148‌

2,775,000

Caterpillar,

Inc

3

.400

05/15/24

2,721,708‌

500,000

Caterpillar,

Inc

2

.600

09/19/29

431,630‌

1,000,000

e

Caterpillar,

Inc

1

.900

03/12/31

801,522‌

225,000

Caterpillar,

Inc

5

.200

05/27/41

222,674‌

2,363,000

Caterpillar,

Inc

3

.803

08/15/42

1,945,253‌

300,000

Caterpillar,

Inc

4

.300

05/15/44

263,263‌

750,000

Caterpillar,

Inc

3

.250

09/19/49

550,827‌

750,000

Caterpillar,

Inc

3

.250

04/09/50

551,111‌

225,000

CNH

Industrial

Capital

LLC

1

.950

07/02/23

220,223‌

1,000,000

CNH

Industrial

Capital

LLC

1

.875

01/15/26

890,419‌

1,000,000

CNH

Industrial

Capital

LLC

1

.450

07/15/26

864,610‌

500,000

CNH

Industrial

NV

3

.850

11/15/27

456,216‌

200,000

Crane

Co

4

.200

03/15/48

141,708‌

200,000

Cummins,

Inc

3

.650

10/01/23

198,483‌

500,000

Cummins,

Inc

0

.750

09/01/25

449,002‌

1,000,000

Cummins,

Inc

1

.500

09/01/30

770,224‌

200,000

Cummins,

Inc

4

.875

10/01/43

188,953‌

750,000

e

Cummins,

Inc

2

.600

09/01/50

469,268‌

218,000

Deere

&

Co

5

.375

10/16/29

221,136‌

500,000

Deere

&

Co

2

.875

09/07/49

347,098‌

1,000,000

e

Deere

&

Co

3

.750

04/15/50

815,781‌

825,000

Dover

Corp

3

.150

11/15/25

782,036‌

100,000

Dover

Corp

2

.950

11/04/29

85,514‌

100,000

Dover

Corp

5

.375

03/01/41

90,509‌

200,000

Eaton

Corp

3

.103

09/15/27

182,457‌

150,000

Eaton

Corp

4

.000

11/02/32

133,880‌

1,250,000

Eaton

Corp

4

.150

03/15/33

1,129,371‌

925,000

Eaton

Corp

4

.150

11/02/42

760,220‌

200,000

Eaton

Corp

3

.915

09/15/47

156,860‌

1,250,000

Eaton

Corp

4

.700

08/23/52

1,097,913‌

200,000

Emerson

Electric

Co

3

.150

06/01/25

192,661‌

1,000,000

Emerson

Electric

Co

0

.875

10/15/26

858,952‌

500,000

Emerson

Electric

Co

1

.800

10/15/27

431,452‌

500,000

Emerson

Electric

Co

2

.000

12/21/28

423,857‌

750,000

Emerson

Electric

Co

1

.950

10/15/30

598,922‌

500,000

Emerson

Electric

Co

2

.200

12/21/31

399,520‌

200,000

Emerson

Electric

Co

5

.250

11/15/39

191,290‌

500,000

Emerson

Electric

Co

2

.750

10/15/50

324,784‌

500,000

Emerson

Electric

Co

2

.800

12/21/51

320,530‌

500,000

Flowserve

Corp

3

.500

10/01/30

411,139‌

1,000,000

Flowserve

Corp

2

.800

01/15/32

715,836‌

875,000

Fortive

Corp

3

.150

06/15/26

807,117‌

250,000

Fortive

Corp

4

.300

06/15/46

192,797‌

600,000

Fortune

Brands

Home

&

Security,

Inc

4

.000

09/21/23

591,517‌

200,000

Fortune

Brands

Home

&

Security,

Inc

4

.000

06/15/25

192,318‌

500,000

Fortune

Brands

Home

&

Security,

Inc

4

.000

03/25/32

414,907‌

500,000

Fortune

Brands

Home

&

Security,

Inc

4

.500

03/25/52

343,704‌

200,000

GATX

Corp

4

.350

02/15/24

197,461‌

500,000

GATX

Corp

3

.250

09/15/26

457,040‌

200,000

GATX

Corp

3

.500

03/15/28

176,483‌

200,000

GATX

Corp

4

.550

11/07/28

184,352‌

425,000

GATX

Corp

4

.700

04/01/29

394,999‌

500,000

GATX

Corp

4

.000

06/30/30

433,238‌

1,000,000

GATX

Corp

1

.900

06/01/31

722,080‌

500,000

GATX

Corp

4

.900

03/15/33

449,545‌

225,000

GATX

Corp

5

.200

03/15/44

188,995‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

51

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CAPITAL

GOODS—continued

$

3,000,000

General

Dynamics

Corp

1

.150

%

06/01/26

$

2,627,714‌

900,000

General

Dynamics

Corp

2

.250

06/01/31

733,622‌

1,000,000

General

Dynamics

Corp

2

.850

06/01/41

715,690‌

225,000

General

Dynamics

Corp

3

.600

11/15/42

178,349‌

1,950,000

General

Dynamics

Corp

4

.250

04/01/50

1,690,815‌

594,000

General

Electric

Co

6

.750

03/15/32

641,801‌

2,300,000

Honeywell

International,

Inc

1

.350

06/01/25

2,116,869‌

1,700,000

Honeywell

International,

Inc

2

.500

11/01/26

1,561,740‌

2,000,000

Honeywell

International,

Inc

1

.100

03/01/27

1,717,849‌

950,000

Honeywell

International,

Inc

1

.950

06/01/30

776,119‌

782,000

Honeywell

International,

Inc

3

.812

11/21/47

645,952‌

575,000

Honeywell

International,

Inc

2

.800

06/01/50

405,332‌

200,000

Hubbell,

Inc

3

.350

03/01/26

190,000‌

500,000

Hubbell,

Inc

3

.150

08/15/27

450,806‌

200,000

Hubbell,

Inc

3

.500

02/15/28

182,772‌

1,000,000

Hubbell,

Inc

2

.300

03/15/31

787,792‌

1,000,000

Huntington

Ingalls

Industries,

Inc

0

.670

08/16/23

964,235‌

500,000

Huntington

Ingalls

Industries,

Inc

3

.844

05/01/25

479,150‌

500,000

Huntington

Ingalls

Industries,

Inc

4

.200

05/01/30

441,180‌

500,000

IDEX

Corp

3

.000

05/01/30

417,184‌

1,000,000

IDEX

Corp

2

.625

06/15/31

796,548‌

1,000,000

Illinois

Tool

Works,

Inc

2

.650

11/15/26

928,138‌

200,000

Illinois

Tool

Works,

Inc

4

.875

09/15/41

187,075‌

1,000,000

Illinois

Tool

Works,

Inc

3

.900

09/01/42

824,525‌

300,000

Ingersoll-Rand

Global

Holding

Co

Ltd

4

.250

06/15/23

298,750‌

400,000

Ingersoll-Rand

Global

Holding

Co

Ltd

3

.750

08/21/28

371,389‌

200,000

Ingersoll-Rand

Global

Holding

Co

Ltd

5

.750

06/15/43

188,982‌

450,000

Ingersoll-Rand

Global

Holding

Co

Ltd

4

.300

02/21/48

344,800‌

600,000

Ingersoll-Rand

Luxembourg

Finance

S.A.

3

.550

11/01/24

582,919‌

100,000

Ingersoll-Rand

Luxembourg

Finance

S.A.

3

.500

03/21/26

93,914‌

1,000,000

Ingersoll-Rand

Luxembourg

Finance

S.A.

3

.800

03/21/29

898,209‌

300,000

Ingersoll-Rand

Luxembourg

Finance

S.A.

4

.500

03/21/49

238,316‌

750,000

John

Deere

Capital

Corp

3

.450

01/10/24

739,708‌

3,000,000

John

Deere

Capital

Corp

0

.450

06/07/24

2,798,135‌

850,000

John

Deere

Capital

Corp

2

.650

06/24/24

822,268‌

500,000

John

Deere

Capital

Corp

2

.050

01/09/25

471,130‌

125,000

John

Deere

Capital

Corp

3

.400

09/11/25

120,536‌

1,000,000

John

Deere

Capital

Corp

0

.700

01/15/26

877,237‌

500,000

John

Deere

Capital

Corp

2

.250

09/14/26

458,844‌

1,000,000

John

Deere

Capital

Corp

1

.300

10/13/26

872,220‌

1,500,000

John

Deere

Capital

Corp

1

.700

01/11/27

1,320,956‌

250,000

John

Deere

Capital

Corp

1

.750

03/09/27

219,003‌

200,000

John

Deere

Capital

Corp

2

.800

09/08/27

182,055‌

1,000,000

John

Deere

Capital

Corp

4

.150

09/15/27

970,426‌

200,000

John

Deere

Capital

Corp

3

.050

01/06/28

183,499‌

2,000,000

e

John

Deere

Capital

Corp

1

.500

03/06/28

1,684,938‌

1,500,000

John

Deere

Capital

Corp

3

.350

04/18/29

1,353,993‌

500,000

John

Deere

Capital

Corp

2

.800

07/18/29

437,376‌

500,000

John

Deere

Capital

Corp

2

.450

01/09/30

422,038‌

1,000,000

John

Deere

Capital

Corp

1

.450

01/15/31

764,571‌

2,000,000

John

Deere

Capital

Corp

2

.000

06/17/31

1,580,945‌

450,000

John

Deere

Capital

Corp

3

.900

06/07/32

412,834‌

1,000,000

John

Deere

Capital

Corp

4

.350

09/15/32

950,350‌

474,000

Johnson

Controls

International

plc

3

.900

02/14/26

454,613‌

1,000,000

Johnson

Controls

International

plc

1

.750

09/15/30

773,474‌

1,000,000

Johnson

Controls

International

plc

2

.000

09/16/31

754,852‌

500,000

Johnson

Controls

International

plc

4

.900

12/01/32

472,894‌

207,000

Johnson

Controls

International

plc

6

.000

01/15/36

208,343‌

325,000

Johnson

Controls

International

plc

4

.625

07/02/44

270,326‌

35,000

Johnson

Controls

International

plc

5

.125

09/14/45

30,050‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

52

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CAPITAL

GOODS—continued

$

300,000

Johnson

Controls

International

plc

4

.500

%

02/15/47

$

238,915‌

280,000

Johnson

Controls

International

plc

(Step

Bond)

3

.625

07/02/24

273,342‌

72,000

Johnson

Controls

International

plc

(Step

Bond)

4

.950

07/02/64

57,652‌

200,000

Kennametal,

Inc

4

.625

06/15/28

185,734‌

1,000,000

Kennametal,

Inc

2

.800

03/01/31

765,694‌

37,000

KLA-Tencor

Corp

4

.650

11/01/24

36,874‌

300,000

KLA-Tencor

Corp

4

.100

03/15/29

285,056‌

500,000

KLA-Tencor

Corp

5

.000

03/15/49

457,738‌

52,000

L3Harris

Technologies,

Inc

3

.950

05/28/24

51,210‌

600,000

L3Harris

Technologies,

Inc

3

.850

12/15/26

566,531‌

1,275,000

L3Harris

Technologies,

Inc

4

.400

06/15/28

1,197,895‌

625,000

L3Harris

Technologies,

Inc

4

.400

06/15/28

587,204‌

175,000

L3Harris

Technologies,

Inc

2

.900

12/15/29

147,806‌

1,000,000

L3Harris

Technologies,

Inc

1

.800

01/15/31

748,063‌

300,000

L3Harris

Technologies,

Inc

4

.854

04/27/35

270,823‌

600,000

L3Harris

Technologies,

Inc

5

.054

04/27/45

529,976‌

100,000

Legrand

France

S.A.

8

.500

02/15/25

108,087‌

100,000

Lennox

International,

Inc

3

.000

11/15/23

97,792‌

100,000

Lennox

International,

Inc

1

.350

08/01/25

89,225‌

100,000

Lennox

International,

Inc

1

.700

08/01/27

84,053‌

1,100,000

Lockheed

Martin

Corp

3

.550

01/15/26

1,063,292‌

150,000

Lockheed

Martin

Corp

1

.850

06/15/30

121,549‌

625,000

Lockheed

Martin

Corp

3

.900

06/15/32

578,977‌

300,000

Lockheed

Martin

Corp

3

.600

03/01/35

255,757‌

500,000

Lockheed

Martin

Corp

4

.500

05/15/36

457,770‌

1,833,000

Lockheed

Martin

Corp

4

.070

12/15/42

1,552,701‌

275,000

Lockheed

Martin

Corp

3

.800

03/01/45

218,604‌

200,000

Lockheed

Martin

Corp

4

.700

05/15/46

182,453‌

1,150,000

Lockheed

Martin

Corp

2

.800

06/15/50

760,934‌

1,894,000

Lockheed

Martin

Corp

4

.090

09/15/52

1,573,328‌

1,000,000

Lockheed

Martin

Corp

4

.150

06/15/53

835,848‌

1,000,000

Lockheed

Martin

Corp

4

.300

06/15/62

836,491‌

200,000

Masco

Corp

3

.500

11/15/27

181,491‌

200,000

Masco

Corp

1

.500

02/15/28

161,377‌

500,000

Masco

Corp

2

.000

10/01/30

376,497‌

550,000

Masco

Corp

2

.000

02/15/31

411,934‌

700,000

e

Masco

Corp

4

.500

05/15/47

538,384‌

1,000,000

Masco

Corp

3

.125

02/15/51

602,647‌

400,000

Northrop

Grumman

Corp

3

.250

08/01/23

396,411‌

300,000

Northrop

Grumman

Corp

3

.200

02/01/27

276,808‌

3,275,000

Northrop

Grumman

Corp

3

.250

01/15/28

2,979,945‌

425,000

Northrop

Grumman

Corp

4

.400

05/01/30

401,316‌

100,000

Northrop

Grumman

Corp

5

.050

11/15/40

92,425‌

700,000

Northrop

Grumman

Corp

4

.750

06/01/43

616,508‌

300,000

Northrop

Grumman

Corp

3

.850

04/15/45

228,475‌

1,450,000

Northrop

Grumman

Corp

4

.030

10/15/47

1,152,581‌

1,000,000

Northrop

Grumman

Corp

5

.250

05/01/50

954,220‌

100,000

Oshkosh

Corp

3

.100

03/01/30

80,539‌

1,000,000

Otis

Worldwide

Corp

2

.056

04/05/25

925,008‌

1,000,000

Otis

Worldwide

Corp

2

.293

04/05/27

885,925‌

525,000

Otis

Worldwide

Corp

2

.565

02/15/30

429,411‌

500,000

Otis

Worldwide

Corp

3

.112

02/15/40

352,915‌

450,000

Otis

Worldwide

Corp

3

.362

02/15/50

303,456‌

200,000

Parker-Hannifin

Corp

2

.700

06/14/24

192,537‌

300,000

Parker-Hannifin

Corp

3

.300

11/21/24

289,447‌

650,000

Parker-Hannifin

Corp

3

.250

03/01/27

599,542‌

1,500,000

Parker-Hannifin

Corp

4

.250

09/15/27

1,428,680‌

1,825,000

Parker-Hannifin

Corp

3

.250

06/14/29

1,606,929‌

1,500,000

Parker-Hannifin

Corp

4

.500

09/15/29

1,414,067‌

200,000

Parker-Hannifin

Corp

4

.200

11/21/34

174,437‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

53

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CAPITAL

GOODS—continued

$

200,000

Parker-Hannifin

Corp

4

.450

%

11/21/44

$

163,483‌

750,000

Parker-Hannifin

Corp

4

.100

03/01/47

588,608‌

225,000

Parker-Hannifin

Corp

4

.000

06/14/49

173,404‌

500,000

Pentair

Finance

Sarl

5

.900

07/15/32

472,524‌

775,000

Precision

Castparts

Corp

3

.250

06/15/25

747,953‌

400,000

Precision

Castparts

Corp

4

.200

06/15/35

362,554‌

100,000

Precision

Castparts

Corp

3

.900

01/15/43

80,504‌

1,000,000

Quanta

Services,

Inc

2

.900

10/01/30

799,235‌

600,000

Quanta

Services,

Inc

2

.350

01/15/32

441,425‌

1,000,000

Quanta

Services,

Inc

3

.050

10/01/41

635,514‌

52,000

Raytheon

Technologies

Corp

3

.650

08/16/23

51,495‌

500,000

Raytheon

Technologies

Corp

3

.200

03/15/24

488,890‌

300,000

Raytheon

Technologies

Corp

3

.150

12/15/24

291,951‌

1,325,000

Raytheon

Technologies

Corp

3

.500

03/15/27

1,240,841‌

200,000

Raytheon

Technologies

Corp

7

.200

08/15/27

218,496‌

2,550,000

Raytheon

Technologies

Corp

4

.125

11/16/28

2,382,488‌

4,500,000

Raytheon

Technologies

Corp

2

.250

07/01/30

3,636,688‌

1,000,000

Raytheon

Technologies

Corp

1

.900

09/01/31

763,344‌

1,000,000

Raytheon

Technologies

Corp

2

.375

03/15/32

785,340‌

100,000

Raytheon

Technologies

Corp

4

.700

12/15/41

86,881‌

2,150,000

Raytheon

Technologies

Corp

4

.500

06/01/42

1,838,631‌

125,000

Raytheon

Technologies

Corp

4

.800

12/15/43

110,259‌

150,000

Raytheon

Technologies

Corp

4

.200

12/15/44

117,843‌

700,000

Raytheon

Technologies

Corp

4

.350

04/15/47

582,518‌

2,000,000

Raytheon

Technologies

Corp

3

.125

07/01/50

1,344,532‌

1,000,000

Raytheon

Technologies

Corp

2

.820

09/01/51

627,229‌

1,000,000

Raytheon

Technologies

Corp

3

.030

03/15/52

652,393‌

400,000

Rockwell

Automation,

Inc

3

.500

03/01/29

367,434‌

150,000

Rockwell

Automation,

Inc

1

.750

08/15/31

115,151‌

400,000

Rockwell

Automation,

Inc

4

.200

03/01/49

331,424‌

1,000,000

Rockwell

Automation,

Inc

2

.800

08/15/61

575,194‌

200,000

Snap-on,

Inc

3

.250

03/01/27

187,725‌

200,000

Snap-on,

Inc

4

.100

03/01/48

171,373‌

500,000

Snap-on,

Inc

3

.100

05/01/50

356,991‌

500,000

Stanley

Black

&

Decker,

Inc

3

.400

03/01/26

472,231‌

300,000

Stanley

Black

&

Decker,

Inc

4

.250

11/15/28

282,648‌

1,000,000

Stanley

Black

&

Decker,

Inc

2

.300

03/15/30

807,353‌

1,000,000

e

Stanley

Black

&

Decker,

Inc

3

.000

05/15/32

817,413‌

100,000

Stanley

Black

&

Decker,

Inc

5

.200

09/01/40

93,893‌

425,000

Stanley

Black

&

Decker,

Inc

4

.850

11/15/48

374,367‌

1,500,000

Stanley

Black

&

Decker,

Inc

2

.750

11/15/50

902,138‌

450,000

Stanley

Black

&

Decker,

Inc

4

.000

03/15/60

387,986‌

150,000

Textron,

Inc

4

.000

03/15/26

143,122‌

500,000

Textron,

Inc

3

.650

03/15/27

459,316‌

100,000

Textron,

Inc

3

.375

03/01/28

89,057‌

750,000

Textron,

Inc

3

.900

09/17/29

663,042‌

500,000

Textron,

Inc

3

.000

06/01/30

411,687‌

300,000

Textron,

Inc

2

.450

03/15/31

230,129‌

250,000

Timken

Co

3

.875

09/01/24

244,129‌

200,000

Timken

Co

4

.500

12/15/28

182,637‌

1,000,000

Timken

Co

4

.125

04/01/32

866,488‌

100,000

Trimble,

Inc

4

.150

06/15/23

99,638‌

625,000

Trimble,

Inc

4

.900

06/15/28

594,392‌

725,000

United

Technologies

Corp

3

.125

05/04/27

664,932‌

750,000

United

Technologies

Corp

4

.450

11/16/38

653,329‌

1,650,000

United

Technologies

Corp

4

.150

05/15/45

1,322,356‌

2,325,000

United

Technologies

Corp

4

.625

11/16/48

2,004,804‌

200,000

Valmont

Industries,

Inc

5

.000

10/01/44

168,493‌

200,000

Valmont

Industries,

Inc

5

.250

10/01/54

172,933‌

600,000

Wabtec

Corp

4

.400

03/15/24

588,701‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

54

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CAPITAL

GOODS—continued

$

300,000

Wabtec

Corp

3

.450

%

11/15/26

$

271,052‌

875,000

Wabtec

Corp

4

.950

09/15/28

808,834‌

500,000

Westinghouse

Air

Brake

Technologies

Corp

3

.200

06/15/25

466,075‌

750,000

WW

Grainger,

Inc

1

.850

02/15/25

702,972‌

800,000

WW

Grainger,

Inc

4

.600

06/15/45

721,360‌

200,000

WW

Grainger,

Inc

3

.750

05/15/46

156,157‌

125,000

WW

Grainger,

Inc

4

.200

05/15/47

103,745‌

775,000

Xylem,

Inc

3

.250

11/01/26

719,715‌

225,000

Xylem,

Inc

1

.950

01/30/28

189,896‌

150,000

Xylem,

Inc

2

.250

01/30/31

119,930‌

100,000

Xylem,

Inc

4

.375

11/01/46

82,603‌

TOTAL

CAPITAL

GOODS

219,333,697‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.2

%

750,000

BayCare

Health

System,

Inc

3

.831

11/15/50

596,916‌

1,000,000

CGI,

Inc

1

.450

09/14/26

864,573‌

1,000,000

CGI,

Inc

2

.300

09/14/31

738,025‌

225,000

g

Daimler

Finance

North

America

LLC

3

.650

02/22/24

220,765‌

925,000

Daimler

Finance

North

America

LLC

8

.500

01/18/31

1,101,615‌

200,000

Equifax,

Inc

3

.300

12/15/22

199,924‌

125,000

Equifax,

Inc

2

.600

12/15/25

114,310‌

1,000,000

Equifax,

Inc

5

.100

12/15/27

967,492‌

100,000

Equifax,

Inc

3

.100

05/15/30

83,018‌

2,000,000

Equifax,

Inc

2

.350

09/15/31

1,502,597‌

865,000

Fred

Hutchinson

Cancer

Center

4

.966

01/01/52

795,746‌

500,000

Leidos,

Inc

2

.950

05/15/23

493,910‌

500,000

Leidos,

Inc

3

.625

05/15/25

479,180‌

100,000

Leidos,

Inc

4

.375

05/15/30

87,641‌

1,000,000

Leidos,

Inc

2

.300

02/15/31

740,920‌

380,000

MidMichigan

Health

3

.409

06/01/50

264,318‌

100,000

Partners

Healthcare

System,

Inc

3

.765

07/01/48

77,329‌

750,000

Partners

Healthcare

System,

Inc

3

.192

07/01/49

522,747‌

100,000

Partners

Healthcare

System,

Inc

4

.117

07/01/55

82,819‌

1,000,000

Partners

Healthcare

System,

Inc

3

.342

07/01/60

666,019‌

725,000

RELX

Capital,

Inc

3

.500

03/16/23

720,351‌

625,000

RELX

Capital,

Inc

4

.000

03/18/29

573,970‌

100,000

RELX

Capital,

Inc

3

.000

05/22/30

84,367‌

275,000

RELX

Capital,

Inc

4

.750

05/20/32

258,734‌

750,000

Republic

Services,

Inc

3

.200

03/15/25

716,891‌

275,000

Republic

Services,

Inc

0

.875

11/15/25

241,725‌

900,000

Republic

Services,

Inc

2

.900

07/01/26

826,781‌

100,000

Republic

Services,

Inc

3

.375

11/15/27

91,448‌

500,000

Republic

Services,

Inc

2

.300

03/01/30

410,554‌

1,000,000

Republic

Services,

Inc

1

.450

02/15/31

746,615‌

575,000

Republic

Services,

Inc

1

.750

02/15/32

428,497‌

1,000,000

Republic

Services,

Inc

2

.375

03/15/33

767,165‌

1,000,000

Republic

Services,

Inc

3

.050

03/01/50

674,710‌

880,000

Rockefeller

Foundation

2

.492

10/01/50

550,300‌

600,000

Thomson

Reuters

Corp

4

.300

11/23/23

595,432‌

1,200,000

Thomson

Reuters

Corp

3

.350

05/15/26

1,124,281‌

145,000

Thomson

Reuters

Corp

5

.850

04/15/40

138,733‌

200,000

Thomson

Reuters

Corp

5

.650

11/23/43

185,363‌

1,000,000

Triton

Container

International

Ltd

3

.250

03/15/32

739,454‌

500,000

Verisk

Analytics,

Inc

4

.000

06/15/25

484,019‌

850,000

Verisk

Analytics,

Inc

4

.125

03/15/29

775,379‌

300,000

Verisk

Analytics,

Inc

5

.500

06/15/45

277,969‌

200,000

Verisk

Analytics,

Inc

3

.625

05/15/50

136,370‌

750,000

Waste

Connections,

Inc

3

.500

05/01/29

672,550‌

500,000

Waste

Connections,

Inc

2

.600

02/01/30

417,295‌

700,000

Waste

Connections,

Inc

2

.200

01/15/32

541,580‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

55

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES—continued

$

100,000

Waste

Connections,

Inc

3

.200

%

06/01/32

$

83,721‌

425,000

Waste

Connections,

Inc

4

.200

01/15/33

385,034‌

500,000

Waste

Connections,

Inc

3

.050

04/01/50

333,506‌

575,000

Waste

Connections,

Inc

2

.950

01/15/52

372,010‌

1,225,000

e

Waste

Management,

Inc

3

.150

11/15/27

1,120,221‌

500,000

Waste

Management,

Inc

1

.150

03/15/28

410,000‌

1,000,000

Waste

Management,

Inc

2

.000

06/01/29

824,854‌

1,000,000

Waste

Management,

Inc

1

.500

03/15/31

758,152‌

1,500,000

Waste

Management,

Inc

4

.150

04/15/32

1,387,533‌

1,000,000

Waste

Management,

Inc

2

.950

06/01/41

718,580‌

250,000

Waste

Management,

Inc

2

.500

11/15/50

152,245‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

30,326,253‌

CONSUMER

DURABLES

&

APPAREL

-

0

.1

%

500,000

Brunswick

Corp

0

.850

08/18/24

460,428‌

1,000,000

Brunswick

Corp

2

.400

08/18/31

694,887‌

500,000

Brunswick

Corp

4

.400

09/15/32

403,253‌

161,000

Coach,

Inc

4

.125

07/15/27

148,859‌

750,000

DR

Horton,

Inc

2

.500

10/15/24

713,185‌

500,000

DR

Horton,

Inc

2

.600

10/15/25

459,069‌

1,000,000

DR

Horton,

Inc

1

.300

10/15/26

837,122‌

1,000,000

e

DR

Horton,

Inc

1

.400

10/15/27

807,205‌

750,000

Hasbro,

Inc

3

.550

11/19/26

695,204‌

775,000

Hasbro,

Inc

3

.500

09/15/27

705,799‌

1,000,000

Hasbro,

Inc

3

.900

11/19/29

874,617‌

100,000

Hasbro,

Inc

6

.350

03/15/40

95,490‌

200,000

Hasbro,

Inc

5

.100

05/15/44

162,253‌

475,000

Leggett

&

Platt,

Inc

3

.500

11/15/27

427,975‌

350,000

Leggett

&

Platt,

Inc

4

.400

03/15/29

325,584‌

1,000,000

Leggett

&

Platt,

Inc

3

.500

11/15/51

676,234‌

1,900,000

Lennar

Corp

4

.750

11/29/27

1,754,270‌

500,000

MDC

Holdings,

Inc

3

.966

08/06/61

263,896‌

100,000

Mohawk

Industries,

Inc

3

.850

02/01/23

99,935‌

750,000

e

Mohawk

Industries,

Inc

3

.625

05/15/30

624,050‌

650,000

NIKE,

Inc

2

.375

11/01/26

593,302‌

300,000

NIKE,

Inc

3

.625

05/01/43

233,888‌

825,000

e

NIKE,

Inc

3

.875

11/01/45

668,420‌

200,000

NIKE,

Inc

3

.375

11/01/46

150,512‌

2,440,000

NIKE,

Inc

3

.375

03/27/50

1,792,140‌

1,000,000

NVR,

Inc

3

.000

05/15/30

816,420‌

200,000

Ralph

Lauren

Corp

3

.750

09/15/25

194,269‌

1,000,000

Ralph

Lauren

Corp

2

.950

06/15/30

841,935‌

450,000

Tapestry,

Inc

3

.050

03/15/32

335,734‌

400,000

VF

Corp

2

.400

04/23/25

373,734‌

1,000,000

VF

Corp

2

.800

04/23/27

901,906‌

200,000

VF

Corp

2

.950

04/23/30

164,299‌

100,000

Whirlpool

Corp

3

.700

03/01/23

99,578‌

100,000

Whirlpool

Corp

4

.000

03/01/24

98,929‌

925,000

Whirlpool

Corp

4

.750

02/26/29

868,303‌

500,000

Whirlpool

Corp

2

.400

05/15/31

383,700‌

475,000

Whirlpool

Corp

4

.700

05/14/32

431,528‌

200,000

Whirlpool

Corp

4

.500

06/01/46

150,033‌

775,000

Whirlpool

Corp

4

.600

05/15/50

580,134‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

20,908,079‌

CONSUMER

SERVICES

-

0

.5

%

14,500,000

Anheuser-Busch

Cos

LLC

3

.650

02/01/26

13,928,270‌

3,150,000

Anheuser-Busch

Cos

LLC

4

.700

02/01/36

2,838,914‌

9,375,000

Anheuser-Busch

Cos

LLC

4

.900

02/01/46

8,147,625‌

200,000

Block

Financial

LLC

5

.250

10/01/25

197,018‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

56

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CONSUMER

SERVICES—continued

$

1,000,000

Block

Financial

LLC

2

.500

%

07/15/28

$

825,920‌

750,000

Block

Financial

LLC

3

.875

08/15/30

640,524‌

300,000

Board

of

Trustees

of

The

Leland

Stanford

Junior

University

3

.647

05/01/48

251,967‌

300,000

Booking

Holdings,

Inc

3

.650

03/15/25

290,958‌

300,000

Booking

Holdings,

Inc

3

.600

06/01/26

284,458‌

900,000

Booking

Holdings,

Inc

3

.550

03/15/28

821,141‌

1,100,000

Booking

Holdings,

Inc

4

.625

04/13/30

1,033,818‌

1,000,000

Brown

University

in

Providence

in

the

State

of

Rhode

Island

and

Providence

Plant

2

.924

09/01/50

716,929‌

1,000,000

California

Endowment

2

.498

04/01/51

634,060‌

1,000,000

Case

Western

Reserve

University

5

.405

06/01/22

921,982‌

500,000

Choice

Hotels

International,

Inc

3

.700

12/01/29

421,485‌

675,000

Cintas

Corp

No

2

3

.700

04/01/27

639,869‌

1,325,000

Cintas

Corp

No

2

4

.000

05/01/32

1,215,872‌

1,000,000

Claremont

McKenna

College

3

.775

01/01/22

651,044‌

500,000

CommonSpirit

Health

2

.950

11/01/22

499,485‌

750,000

CommonSpirit

Health

2

.760

10/01/24

713,617‌

1,000,000

CommonSpirit

Health

3

.347

10/01/29

846,558‌

1,000,000

CommonSpirit

Health

2

.782

10/01/30

798,088‌

300,000

CommonSpirit

Health

4

.350

11/01/42

236,394‌

750,000

CommonSpirit

Health

3

.817

10/01/49

544,403‌

715,000

CommonSpirit

Health

4

.187

10/01/49

534,793‌

500,000

CommonSpirit

Health

3

.910

10/01/50

355,620‌

200,000

Darden

Restaurants,

Inc

3

.850

05/01/27

187,229‌

300,000

Darden

Restaurants,

Inc

4

.550

02/15/48

225,799‌

500,000

Emory

University

2

.143

09/01/30

413,202‌

500,000

Emory

University

2

.969

09/01/50

351,011‌

1,200,000

Expedia

Group,

Inc

5

.000

02/15/26

1,179,946‌

750,000

Expedia

Group,

Inc

4

.625

08/01/27

704,328‌

175,000

Expedia

Group,

Inc

3

.800

02/15/28

155,415‌

750,000

Expedia

Group,

Inc

3

.250

02/15/30

608,257‌

270,000

Expedia

Group,

Inc

2

.950

03/15/31

209,460‌

2,000,000

Howard

University

5

.209

10/01/52

1,687,688‌

200,000

Hyatt

Hotels

Corp

3

.375

07/15/23

197,930‌

1,000,000

Hyatt

Hotels

Corp

1

.800

10/01/24

937,538‌

100,000

Hyatt

Hotels

Corp

5

.625

04/23/25

98,881‌

100,000

Hyatt

Hotels

Corp

4

.850

03/15/26

97,215‌

200,000

Hyatt

Hotels

Corp

4

.375

09/15/28

179,964‌

1,100,000

Hyatt

Hotels

Corp

6

.000

04/23/30

1,066,279‌

750,000

Johns

Hopkins

University

2

.813

01/01/60

464,609‌

500,000

Leland

Stanford

Junior

University

1

.289

06/01/27

430,614‌

1,000,000

Leland

Stanford

Junior

University

2

.413

06/01/50

635,539‌

300,000

Marriott

International,

Inc

4

.150

12/01/23

296,617‌

300,000

Marriott

International,

Inc

3

.600

04/15/24

292,914‌

14,000

Marriott

International,

Inc

5

.750

05/01/25

14,138‌

500,000

Marriott

International,

Inc

5

.000

10/15/27

482,868‌

1,250,000

Marriott

International,

Inc

4

.000

04/15/28

1,131,870‌

300,000

Marriott

International,

Inc

4

.650

12/01/28

279,307‌

400,000

Marriott

International,

Inc

4

.625

06/15/30

361,472‌

1,000,000

Marriott

International,

Inc

2

.850

04/15/31

785,162‌

1,500,000

Marriott

International,

Inc

3

.500

10/15/32

1,206,333‌

2,000,000

Marriott

International,

Inc

2

.750

10/15/33

1,451,791‌

1,500,000

Massachusetts

Institute

of

Technology

2

.989

07/01/50

1,091,129‌

1,000,000

Massachusetts

Institute

of

Technology

2

.294

07/01/51

613,662‌

1,000,000

Massachusetts

Institute

of

Technology

3

.067

04/01/52

723,816‌

750,000

Massachusetts

Institute

of

Technology

5

.600

07/01/11

751,528‌

200,000

Massachusetts

Institute

of

Technology

4

.678

07/01/14

169,823‌

300,000

Massachusetts

Institute

of

Technology

3

.885

07/01/16

212,341‌

2,000,000

McDonald's

Corp

3

.300

07/01/25

1,923,220‌

150,000

McDonald's

Corp

1

.450

09/01/25

136,767‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

57

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CONSUMER

SERVICES—continued

$

2,950,000

McDonald's

Corp

3

.700

%

01/30/26

$

2,843,939‌

300,000

McDonald's

Corp

3

.500

03/01/27

284,108‌

775,000

McDonald's

Corp

3

.800

04/01/28

727,971‌

1,250,000

McDonald's

Corp

2

.625

09/01/29

1,066,818‌

500,000

McDonald's

Corp

2

.125

03/01/30

407,447‌

200,000

McDonald's

Corp

4

.600

09/09/32

191,072‌

2,225,000

McDonald's

Corp

4

.700

12/09/35

2,031,530‌

250,000

McDonald's

Corp

6

.300

10/15/37

258,688‌

100,000

McDonald's

Corp

6

.300

03/01/38

104,827‌

250,000

McDonald's

Corp

4

.600

05/26/45

212,523‌

1,275,000

McDonald's

Corp

4

.875

12/09/45

1,128,515‌

725,000

McDonald's

Corp

4

.450

03/01/47

607,350‌

625,000

McDonald's

Corp

4

.450

09/01/48

521,291‌

1,825,000

McDonald's

Corp

3

.625

09/01/49

1,328,729‌

1,350,000

McDonald's

Corp

4

.200

04/01/50

1,082,686‌

500,000

McDonald's

Corp

5

.150

09/09/52

464,909‌

735,000

Nature

Conservancy

3

.957

03/01/52

598,196‌

750,000

Northeastern

University

2

.894

10/01/50

498,448‌

200,000

Northwestern

University

3

.868

12/01/48

168,134‌

750,000

Northwestern

University

2

.640

12/01/50

498,602‌

200,000

Northwestern

University

3

.662

12/01/57

154,273‌

1,000,000

Novant

Health,

Inc

2

.637

11/01/36

726,937‌

1,000,000

Novant

Health,

Inc

3

.318

11/01/61

663,872‌

1,000,000

President

&

Fellows

of

Harvard

College

2

.517

10/15/50

642,614‌

750,000

President

and

Fellows

of

Harvard

College

3

.619

10/01/37

647,782‌

200,000

President

and

Fellows

of

Harvard

College

3

.150

07/15/46

152,872‌

1,000,000

President

and

Fellows

of

Harvard

College

3

.745

11/15/52

832,579‌

200,000

President

and

Fellows

of

Harvard

College

3

.300

07/15/56

149,313‌

525,000

Starbucks

Corp

3

.850

10/01/23

521,800‌

175,000

Starbucks

Corp

2

.450

06/15/26

160,469‌

500,000

Starbucks

Corp

2

.000

03/12/27

438,333‌

750,000

Starbucks

Corp

3

.500

03/01/28

695,090‌

650,000

Starbucks

Corp

4

.000

11/15/28

608,037‌

750,000

Starbucks

Corp

3

.550

08/15/29

681,303‌

500,000

Starbucks

Corp

2

.250

03/12/30

404,615‌

1,500,000

Starbucks

Corp

2

.550

11/15/30

1,223,307‌

2,000,000

e

Starbucks

Corp

3

.000

02/14/32

1,655,412‌

200,000

e

Starbucks

Corp

4

.300

06/15/45

161,409‌

200,000

Starbucks

Corp

3

.750

12/01/47

147,241‌

650,000

Starbucks

Corp

4

.500

11/15/48

529,516‌

1,000,000

Starbucks

Corp

4

.450

08/15/49

817,038‌

500,000

Starbucks

Corp

3

.350

03/12/50

340,891‌

1,000,000

Starbucks

Corp

3

.500

11/15/50

699,777‌

1,000,000

Thomas

Jefferson

University

3

.847

11/01/57

735,328‌

200,000

Trinity

Acquisition

plc

4

.400

03/15/26

191,988‌

500,000

Trustees

of

Boston

College

3

.129

07/01/52

349,345‌

100,000

Trustees

of

Boston

University

4

.061

10/01/48

83,123‌

1,000,000

Trustees

of

Princeton

University

2

.516

07/01/50

676,943‌

665,000

Trustees

of

Princeton

University

4

.201

03/01/52

601,201‌

1,000,000

University

of

Chicago

3

.000

10/01/52

701,108‌

1,000,000

University

of

Miami

4

.063

04/01/52

820,058‌

1,000,000

University

of

Southern

California

2

.945

10/01/51

697,445‌

1,000,000

University

of

Southern

California

3

.226

10/01/20

569,364‌

1,000,000

Washington

University

3

.524

04/15/54

776,065‌

500,000

Washington

University

4

.349

04/15/22

386,746‌

200,000

Wesleyan

University

4

.781

07/01/16

163,912‌

500,000

Yale

University

0

.873

04/15/25

457,919‌

750,000

Yale

University

1

.482

04/15/30

600,349‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

58

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CONSUMER

SERVICES—continued

$

750,000

Yale

University

2

.402

%

04/15/50

$

485,478‌

TOTAL

CONSUMER

SERVICES

97,123,109‌

DIVERSIFIED

FINANCIALS

-

2

.7

%

200,000

AerCap

Ireland

Capital

DAC

3

.300

01/23/23

198,880‌

300,000

AerCap

Ireland

Capital

DAC

4

.125

07/03/23

297,652‌

1,500,000

AerCap

Ireland

Capital

DAC

4

.500

09/15/23

1,478,400‌

600,000

AerCap

Ireland

Capital

DAC

4

.875

01/16/24

590,263‌

1,000,000

AerCap

Ireland

Capital

DAC

3

.150

02/15/24

960,406‌

750,000

AerCap

Ireland

Capital

DAC

2

.875

08/14/24

705,312‌

2,000,000

AerCap

Ireland

Capital

DAC

1

.650

10/29/24

1,827,174‌

2,000,000

AerCap

Ireland

Capital

DAC

1

.750

10/29/24

1,819,404‌

1,675,000

AerCap

Ireland

Capital

DAC

3

.500

01/15/25

1,574,067‌

1,000,000

AerCap

Ireland

Capital

DAC

6

.500

07/15/25

998,195‌

300,000

AerCap

Ireland

Capital

DAC

4

.450

10/01/25

283,165‌

500,000

AerCap

Ireland

Capital

DAC

1

.750

01/30/26

427,597‌

500,000

AerCap

Ireland

Capital

DAC

4

.450

04/03/26

466,449‌

2,500,000

AerCap

Ireland

Capital

DAC

2

.450

10/29/26

2,109,017‌

250,000

AerCap

Ireland

Capital

DAC

3

.650

07/21/27

218,319‌

1,000,000

AerCap

Ireland

Capital

DAC

4

.625

10/15/27

897,964‌

200,000

AerCap

Ireland

Capital

DAC

3

.875

01/23/28

172,620‌

1,450,000

AerCap

Ireland

Capital

DAC

3

.000

10/29/28

1,162,850‌

700,000

AerCap

Ireland

Capital

DAC

3

.300

01/30/32

526,448‌

2,000,000

AerCap

Ireland

Capital

DAC

3

.400

10/29/33

1,451,078‌

800,000

AerCap

Ireland

Capital

DAC

3

.850

10/29/41

531,405‌

200,000

Affiliated

Managers

Group,

Inc

4

.250

02/15/24

198,133‌

1,000,000

Affiliated

Managers

Group,

Inc

3

.300

06/15/30

826,120‌

20,000

Ahold

Finance

USA

LLC

6

.875

05/01/29

20,972‌

2,000,000

Ally

Financial,

Inc

1

.450

10/02/23

1,930,658‌

500,000

Ally

Financial,

Inc

5

.800

05/01/25

502,097‌

1,000,000

Ally

Financial,

Inc

4

.750

06/09/27

922,578‌

1,000,000

Ally

Financial,

Inc

2

.200

11/02/28

772,569‌

2,000,000

Ally

Financial,

Inc

8

.000

11/01/31

2,096,715‌

2,000,000

American

Express

Co

3

.700

08/03/23

1,987,220‌

750,000

American

Express

Co

3

.000

10/30/24

723,649‌

1,500,000

American

Express

Co

3

.950

08/01/25

1,452,836‌

1,000,000

American

Express

Co

4

.200

11/06/25

975,716‌

2,500,000

American

Express

Co

3

.125

05/20/26

2,337,835‌

2,000,000

American

Express

Co

1

.650

11/04/26

1,743,882‌

1,500,000

American

Express

Co

2

.550

03/04/27

1,336,064‌

575,000

American

Express

Co

4

.050

05/03/29

529,206‌

2,700,000

American

Express

Co

4

.989

05/26/33

2,507,658‌

1,000,000

American

Express

Co

4

.420

08/03/33

909,474‌

525,000

American

Express

Co

4

.050

12/03/42

425,750‌

300,000

American

Honda

Finance

Corp

3

.450

07/14/23

297,551‌

500,000

American

Honda

Finance

Corp

3

.625

10/10/23

495,637‌

300,000

American

Honda

Finance

Corp

3

.550

01/12/24

295,510‌

200,000

American

Honda

Finance

Corp

2

.900

02/16/24

194,957‌

1,000,000

American

Honda

Finance

Corp

2

.400

06/27/24

960,464‌

1,000,000

American

Honda

Finance

Corp

0

.550

07/12/24

928,361‌

500,000

American

Honda

Finance

Corp

2

.150

09/10/24

475,661‌

1,000,000

American

Honda

Finance

Corp

1

.200

07/08/25

904,792‌

750,000

American

Honda

Finance

Corp

1

.000

09/10/25

671,630‌

3,000,000

American

Honda

Finance

Corp

1

.300

09/09/26

2,612,698‌

100,000

American

Honda

Finance

Corp

2

.300

09/09/26

90,241‌

1,000,000

American

Honda

Finance

Corp

2

.350

01/08/27

896,068‌

500,000

American

Honda

Finance

Corp

3

.500

02/15/28

459,915‌

1,000,000

American

Honda

Finance

Corp

2

.250

01/12/29

840,328‌

1,000,000

American

Honda

Finance

Corp

1

.800

01/13/31

776,267‌

875,000

Ameriprise

Financial,

Inc

4

.000

10/15/23

868,473‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

59

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

300,000

Ameriprise

Financial,

Inc

3

.700

%

10/15/24

$

292,713‌

125,000

Ameriprise

Financial,

Inc

3

.000

04/02/25

119,356‌

200,000

Ameriprise

Financial,

Inc

2

.875

09/15/26

184,962‌

350,000

Ameriprise

Financial,

Inc

4

.500

05/13/32

329,352‌

1,000,000

Andrew

W

Mellon

Foundation

0

.947

08/01/27

853,784‌

600,000

Ares

Capital

Corp

3

.500

02/10/23

596,928‌

850,000

Ares

Capital

Corp

4

.200

06/10/24

822,923‌

500,000

Ares

Capital

Corp

4

.250

03/01/25

472,337‌

500,000

Ares

Capital

Corp

3

.250

07/15/25

456,711‌

1,200,000

Ares

Capital

Corp

3

.875

01/15/26

1,091,770‌

1,500,000

Ares

Capital

Corp

2

.150

07/15/26

1,257,110‌

1,500,000

Ares

Capital

Corp

2

.875

06/15/28

1,180,593‌

750,000

Ares

Capital

Corp

3

.200

11/15/31

534,592‌

227,000

AXA

Equitable

Holdings,

Inc

3

.900

04/20/23

225,806‌

1,375,000

AXA

Equitable

Holdings,

Inc

4

.350

04/20/28

1,288,037‌

975,000

AXA

Equitable

Holdings,

Inc

5

.000

04/20/48

816,653‌

350,000

Bank

of

New

York

Mellon

Corp

3

.650

02/04/24

345,036‌

800,000

Bank

of

New

York

Mellon

Corp

3

.250

09/11/24

778,901‌

1,750,000

Bank

of

New

York

Mellon

Corp

2

.100

10/24/24

1,658,118‌

500,000

Bank

of

New

York

Mellon

Corp

3

.000

02/24/25

481,361‌

725,000

Bank

of

New

York

Mellon

Corp

1

.600

04/24/25

669,635‌

2,000,000

Bank

of

New

York

Mellon

Corp

3

.350

04/25/25

1,931,669‌

1,500,000

Bank

of

New

York

Mellon

Corp

0

.750

01/28/26

1,317,026‌

500,000

Bank

of

New

York

Mellon

Corp

2

.800

05/04/26

468,326‌

1,000,000

Bank

of

New

York

Mellon

Corp

4

.414

07/24/26

977,022‌

500,000

Bank

of

New

York

Mellon

Corp

2

.450

08/17/26

457,001‌

1,000,000

Bank

of

New

York

Mellon

Corp

2

.050

01/26/27

887,104‌

300,000

Bank

of

New

York

Mellon

Corp

3

.250

05/16/27

280,509‌

1,000,000

Bank

of

New

York

Mellon

Corp

3

.400

01/29/28

915,999‌

600,000

Bank

of

New

York

Mellon

Corp

3

.850

04/28/28

562,386‌

2,000,000

Bank

of

New

York

Mellon

Corp

1

.650

07/14/28

1,659,350‌

400,000

Bank

of

New

York

Mellon

Corp

3

.300

08/23/29

352,531‌

500,000

Bank

of

New

York

Mellon

Corp

4

.596

07/26/30

473,801‌

1,500,000

Bank

of

New

York

Mellon

Corp

1

.650

01/28/31

1,143,556‌

1,000,000

Bank

of

New

York

Mellon

Corp

1

.800

07/28/31

763,417‌

500,000

Bank

of

New

York

Mellon

Corp

4

.289

06/13/33

457,516‌

1,000,000

g

Barings

BDC,

Inc

3

.300

11/23/26

829,437‌

2,400,000

Berkshire

Hathaway,

Inc

3

.125

03/15/26

2,277,343‌

800,000

Berkshire

Hathaway,

Inc

4

.500

02/11/43

711,881‌

250,000

BGC

Partners,

Inc

5

.375

07/24/23

249,813‌

500,000

BGC

Partners,

Inc

3

.750

10/01/24

480,027‌

1,000,000

BlackRock

TCP

Capital

Corp

2

.850

02/09/26

881,351‌

500,000

BlackRock,

Inc

3

.500

03/18/24

492,815‌

850,000

BlackRock,

Inc

3

.250

04/30/29

764,703‌

1,450,000

BlackRock,

Inc

1

.900

01/28/31

1,132,057‌

2,000,000

BlackRock,

Inc

2

.100

02/25/32

1,528,563‌

750,000

Blackstone

Secured

Lending

Fund

3

.650

07/14/23

741,574‌

750,000

Blackstone

Secured

Lending

Fund

3

.625

01/15/26

684,770‌

1,400,000

Blackstone

Secured

Lending

Fund

2

.750

09/16/26

1,201,742‌

1,000,000

Blackstone

Secured

Lending

Fund

2

.125

02/15/27

806,591‌

1,025,000

BPCE

S.A.

4

.000

04/15/24

1,007,047‌

300,000

BPCE

S.A.

3

.375

12/02/26

276,144‌

300,000

Brookfield

Asset

Management,

Inc

4

.000

01/15/25

292,468‌

1,000,000

Brookfield

Finance

I

UK

PLC

2

.340

01/30/32

747,866‌

1,000,000

Brookfield

Finance

LLC

3

.450

04/15/50

631,327‌

550,000

Brookfield

Finance,

Inc

4

.000

04/01/24

541,579‌

200,000

Brookfield

Finance,

Inc

4

.250

06/02/26

191,523‌

600,000

Brookfield

Finance,

Inc

3

.900

01/25/28

540,232‌

600,000

Brookfield

Finance,

Inc

4

.850

03/29/29

560,964‌

725,000

Brookfield

Finance,

Inc

4

.700

09/20/47

576,248‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

60

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

1,000,000

Brookfield

Finance,

Inc

3

.500

%

03/30/51

$

630,891‌

1,000,000

Brookfield

Finance,

Inc

3

.625

02/15/52

655,325‌

1,925,000

Capital

One

Financial

Corp

3

.200

01/30/23

1,917,556‌

150,000

Capital

One

Financial

Corp

3

.500

06/15/23

148,967‌

300,000

Capital

One

Financial

Corp

3

.900

01/29/24

295,626‌

750,000

Capital

One

Financial

Corp

3

.300

10/30/24

722,514‌

125,000

Capital

One

Financial

Corp

3

.200

02/05/25

118,732‌

625,000

Capital

One

Financial

Corp

4

.250

04/30/25

607,363‌

850,000

Capital

One

Financial

Corp

4

.200

10/29/25

817,290‌

750,000

Capital

One

Financial

Corp

4

.985

07/24/26

733,237‌

700,000

Capital

One

Financial

Corp

3

.750

07/28/26

647,176‌

1,075,000

Capital

One

Financial

Corp

3

.750

03/09/27

989,645‌

1,000,000

Capital

One

Financial

Corp

3

.650

05/11/27

917,627‌

1,000,000

Capital

One

Financial

Corp

1

.878

11/02/27

849,135‌

2,700,000

Capital

One

Financial

Corp

3

.800

01/31/28

2,439,850‌

1,400,000

Capital

One

Financial

Corp

4

.927

05/10/28

1,333,832‌

2,000,000

Capital

One

Financial

Corp

3

.273

03/01/30

1,672,264‌

750,000

Capital

One

Financial

Corp

5

.247

07/26/30

698,401‌

2,525,000

Capital

One

Financial

Corp

2

.359

07/29/32

1,788,376‌

1,000,000

Capital

One

Financial

Corp

2

.618

11/02/32

748,358‌

1,000,000

Cboe

Global

Markets,

Inc

1

.625

12/15/30

758,945‌

500,000

Cboe

Global

Markets,

Inc

3

.000

03/16/32

410,988‌

450,000

CBOE

Holdings,

Inc

3

.650

01/12/27

425,027‌

200,000

Celanese

US

Holdings

LLC

3

.500

05/08/24

191,137‌

1,000,000

Celanese

US

Holdings

LLC

6

.050

03/15/25

976,846‌

1,000,000

Celanese

US

Holdings

LLC

1

.400

08/05/26

815,359‌

1,000,000

Celanese

US

Holdings

LLC

6

.165

07/15/27

946,405‌

1,000,000

Celanese

US

Holdings

LLC

6

.330

07/15/29

932,025‌

1,000,000

Celanese

US

Holdings

LLC

6

.379

07/15/32

929,270‌

300,000

Charles

Schwab

Corp

3

.550

02/01/24

295,543‌

300,000

Charles

Schwab

Corp

3

.750

04/01/24

296,235‌

200,000

Charles

Schwab

Corp

3

.000

03/10/25

191,697‌

350,000

Charles

Schwab

Corp

3

.625

04/01/25

340,802‌

1,250,000

Charles

Schwab

Corp

3

.850

05/21/25

1,221,121‌

1,500,000

Charles

Schwab

Corp

0

.900

03/11/26

1,310,091‌

1,500,000

Charles

Schwab

Corp

1

.150

05/13/26

1,312,177‌

500,000

Charles

Schwab

Corp

3

.200

03/02/27

465,325‌

350,000

Charles

Schwab

Corp

2

.450

03/03/27

314,091‌

525,000

Charles

Schwab

Corp

3

.300

04/01/27

490,654‌

200,000

Charles

Schwab

Corp

3

.200

01/25/28

183,125‌

2,000,000

Charles

Schwab

Corp

2

.000

03/20/28

1,721,460‌

300,000

Charles

Schwab

Corp

4

.000

02/01/29

281,676‌

500,000

Charles

Schwab

Corp

2

.750

10/01/29

428,657‌

1,500,000

Charles

Schwab

Corp

1

.650

03/11/31

1,131,176‌

1,500,000

Charles

Schwab

Corp

2

.300

05/13/31

1,196,786‌

1,000,000

Charles

Schwab

Corp

1

.950

12/01/31

761,511‌

1,000,000

Charles

Schwab

Corp

2

.900

03/03/32

823,688‌

1,500,000

CI

Financial

Corp

3

.200

12/17/30

1,087,242‌

1,000,000

CI

Financial

Corp

4

.100

06/15/51

594,865‌

475,000

CME

Group,

Inc

3

.000

03/15/25

455,149‌

500,000

CME

Group,

Inc

3

.750

06/15/28

471,755‌

1,500,000

CME

Group,

Inc

2

.650

03/15/32

1,233,128‌

400,000

CME

Group,

Inc

5

.300

09/15/43

397,323‌

500,000

CME

Group,

Inc

4

.150

06/15/48

430,049‌

2,000,000

Credit

Suisse

AG.

0

.495

02/02/24

1,862,823‌

2,900,000

Credit

Suisse

AG.

3

.625

09/09/24

2,767,589‌

1,050,000

Credit

Suisse

AG.

3

.700

02/21/25

985,568‌

500,000

Credit

Suisse

AG.

2

.950

04/09/25

459,855‌

1,000,000

Credit

Suisse

AG.

1

.250

08/07/26

825,813‌

1,350,000

Credit

Suisse

AG.

5

.000

07/09/27

1,244,860‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

61

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

2,300,000

Credit

Suisse

Group

Funding

Guernsey

Ltd

3

.750

%

03/26/25

$

2,142,572‌

2,750,000

Credit

Suisse

Group

Funding

Guernsey

Ltd

4

.550

04/17/26

2,530,049‌

1,750,000

Credit

Suisse

Group

Funding

Guernsey

Ltd

4

.875

05/15/45

1,236,182‌

525,000

Deutsche

Bank

AG.

3

.700

05/30/24

506,968‌

1,000,000

Deutsche

Bank

AG.

2

.222

09/18/24

952,428‌

2,000,000

Deutsche

Bank

AG.

1

.447

04/01/25

1,840,026‌

1,000,000

Deutsche

Bank

AG.

4

.162

05/13/25

962,791‌

1,000,000

Deutsche

Bank

AG.

3

.961

11/26/25

933,554‌

1,800,000

e

Deutsche

Bank

AG.

4

.100

01/13/26

1,701,268‌

2,000,000

Deutsche

Bank

AG.

1

.686

03/19/26

1,740,585‌

2,000,000

Deutsche

Bank

AG.

6

.119

07/14/26

1,942,357‌

2,000,000

Deutsche

Bank

AG.

2

.129

11/24/26

1,698,161‌

1,000,000

Deutsche

Bank

AG.

5

.371

09/09/27

965,141‌

1,050,000

Deutsche

Bank

AG.

2

.311

11/16/27

851,721‌

825,000

Deutsche

Bank

AG.

3

.547

09/18/31

629,026‌

100,000

Diageo

Investment

Corp

4

.250

05/11/42

84,472‌

700,000

Discover

Financial

Services

3

.950

11/06/24

682,235‌

200,000

Discover

Financial

Services

4

.500

01/30/26

189,675‌

350,000

Discover

Financial

Services

4

.100

02/09/27

321,798‌

200,000

E*TRADE

Financial

Corp

3

.800

08/24/27

184,764‌

300,000

E*TRADE

Financial

Corp

4

.500

06/20/28

285,216‌

300,000

Eaton

Vance

Corp

3

.625

06/15/23

298,033‌

200,000

Eaton

Vance

Corp

3

.500

04/06/27

184,832‌

1,000,000

FactSet

Research

Systems,

Inc

2

.900

03/01/27

904,923‌

750,000

Ford

Foundation

2

.415

06/01/50

463,114‌

525,000

Ford

Foundation

2

.815

06/01/70

312,089‌

200,000

Franklin

Resources,

Inc

2

.850

03/30/25

190,959‌

1,500,000

Franklin

Resources,

Inc

1

.600

10/30/30

1,120,735‌

500,000

Franklin

Resources,

Inc

2

.950

08/12/51

315,208‌

750,000

FS

KKR

Capital

Corp

4

.125

02/01/25

709,806‌

750,000

FS

KKR

Capital

Corp

3

.400

01/15/26

661,749‌

1,000,000

FS

KKR

Capital

Corp

2

.625

01/15/27

807,458‌

1,500,000

FS

KKR

Capital

Corp

3

.125

10/12/28

1,164,805‌

500,000

GE

Capital

Funding

LLC

3

.450

05/15/25

475,431‌

3,000,000

GE

Capital

Funding

LLC

4

.550

05/15/32

2,779,722‌

2,401,000

GE

Capital

International

Funding

Co

4

.418

11/15/35

2,151,106‌

1,125,000

General

Motors

Financial

Co,

Inc

3

.700

05/09/23

1,116,846‌

725,000

General

Motors

Financial

Co,

Inc

4

.150

06/19/23

721,505‌

650,000

General

Motors

Financial

Co,

Inc

5

.100

01/17/24

647,632‌

725,000

General

Motors

Financial

Co,

Inc

3

.950

04/13/24

707,114‌

125,000

General

Motors

Financial

Co,

Inc

4

.000

01/15/25

120,086‌

1,000,000

General

Motors

Financial

Co,

Inc

2

.900

02/26/25

934,308‌

1,500,000

General

Motors

Financial

Co,

Inc

3

.800

04/07/25

1,428,774‌

5,175,000

General

Motors

Financial

Co,

Inc

4

.350

04/09/25

4,996,957‌

3,000,000

General

Motors

Financial

Co,

Inc

2

.750

06/20/25

2,763,426‌

450,000

General

Motors

Financial

Co,

Inc

4

.300

07/13/25

430,589‌

500,000

General

Motors

Financial

Co,

Inc

1

.250

01/08/26

429,733‌

275,000

General

Motors

Financial

Co,

Inc

5

.250

03/01/26

267,609‌

1,000,000

General

Motors

Financial

Co,

Inc

1

.500

06/10/26

849,868‌

525,000

General

Motors

Financial

Co,

Inc

4

.000

10/06/26

485,561‌

1,400,000

General

Motors

Financial

Co,

Inc

4

.350

01/17/27

1,297,918‌

2,000,000

e

General

Motors

Financial

Co,

Inc

2

.350

02/26/27

1,697,020‌

800,000

General

Motors

Financial

Co,

Inc

5

.000

04/09/27

758,327‌

1,000,000

General

Motors

Financial

Co,

Inc

2

.700

08/20/27

846,719‌

1,100,000

General

Motors

Financial

Co,

Inc

3

.850

01/05/28

968,976‌

2,000,000

General

Motors

Financial

Co,

Inc

2

.400

04/10/28

1,599,602‌

1,850,000

General

Motors

Financial

Co,

Inc

2

.400

10/15/28

1,462,101‌

2,400,000

General

Motors

Financial

Co,

Inc

5

.650

01/17/29

2,269,164‌

1,000,000

General

Motors

Financial

Co,

Inc

4

.300

04/06/29

869,128‌

1,500,000

General

Motors

Financial

Co,

Inc

3

.600

06/21/30

1,215,030‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

62

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

2,000,000

General

Motors

Financial

Co,

Inc

2

.350

%

01/08/31

$

1,451,317‌

475,000

General

Motors

Financial

Co,

Inc

2

.700

06/10/31

348,690‌

2,000,000

General

Motors

Financial

Co,

Inc

3

.100

01/12/32

1,508,463‌

500,000

Goldman

Sachs

BDC,

Inc

3

.750

02/10/25

480,050‌

500,000

Goldman

Sachs

BDC,

Inc

2

.875

01/15/26

453,344‌

2,575,000

Goldman

Sachs

Group,

Inc

3

.625

02/20/24

2,530,112‌

2,025,000

Goldman

Sachs

Group,

Inc

4

.000

03/03/24

1,995,209‌

425,000

Goldman

Sachs

Group,

Inc

3

.850

07/08/24

415,346‌

600,000

Goldman

Sachs

Group,

Inc

3

.500

01/23/25

576,573‌

250,000

Goldman

Sachs

Group,

Inc

3

.500

04/01/25

238,801‌

1,100,000

Goldman

Sachs

Group,

Inc

3

.750

05/22/25

1,053,272‌

2,375,000

Goldman

Sachs

Group,

Inc

3

.272

09/29/25

2,262,279‌

575,000

Goldman

Sachs

Group,

Inc

4

.250

10/21/25

554,999‌

700,000

Goldman

Sachs

Group,

Inc

0

.855

02/12/26

624,541‌

1,125,000

Goldman

Sachs

Group,

Inc

3

.750

02/25/26

1,065,588‌

425,000

Goldman

Sachs

Group,

Inc

3

.500

11/16/26

392,772‌

2,700,000

Goldman

Sachs

Group,

Inc

1

.093

12/09/26

2,329,898‌

125,000

Goldman

Sachs

Group,

Inc

5

.950

01/15/27

125,456‌

3,950,000

Goldman

Sachs

Group,

Inc

3

.850

01/26/27

3,670,210‌

2,600,000

Goldman

Sachs

Group,

Inc

1

.431

03/09/27

2,235,246‌

2,000,000

Goldman

Sachs

Group,

Inc

4

.387

06/15/27

1,905,253‌

5,000,000

Goldman

Sachs

Group,

Inc

1

.542

09/10/27

4,224,213‌

6,500,000

Goldman

Sachs

Group,

Inc

1

.948

10/21/27

5,558,561‌

2,000,000

Goldman

Sachs

Group,

Inc

2

.640

02/24/28

1,735,278‌

3,000,000

Goldman

Sachs

Group,

Inc

3

.615

03/15/28

2,730,151‌

4,475,000

Goldman

Sachs

Group,

Inc

3

.691

06/05/28

4,046,405‌

2,000,000

Goldman

Sachs

Group,

Inc

4

.482

08/23/28

1,876,993‌

8,525,000

Goldman

Sachs

Group,

Inc

3

.814

04/23/29

7,558,270‌

550,000

Goldman

Sachs

Group,

Inc

4

.223

05/01/29

499,882‌

2,500,000

Goldman

Sachs

Group,

Inc

2

.600

02/07/30

2,015,940‌

2,500,000

Goldman

Sachs

Group,

Inc

3

.800

03/15/30

2,167,657‌

5,000,000

Goldman

Sachs

Group,

Inc

1

.992

01/27/32

3,696,557‌

2,050,000

Goldman

Sachs

Group,

Inc

2

.615

04/22/32

1,589,012‌

2,550,000

Goldman

Sachs

Group,

Inc

2

.383

07/21/32

1,922,664‌

1,500,000

Goldman

Sachs

Group,

Inc

2

.650

10/21/32

1,149,701‌

2,000,000

Goldman

Sachs

Group,

Inc

3

.102

02/24/33

1,588,509‌

900,000

Goldman

Sachs

Group,

Inc

6

.750

10/01/37

897,015‌

2,425,000

Goldman

Sachs

Group,

Inc

4

.017

10/31/38

1,915,314‌

4,525,000

Goldman

Sachs

Group,

Inc

4

.411

04/23/39

3,749,260‌

2,475,000

Goldman

Sachs

Group,

Inc

6

.250

02/01/41

2,458,001‌

1,900,000

Goldman

Sachs

Group,

Inc

3

.210

04/22/42

1,287,281‌

2,000,000

Goldman

Sachs

Group,

Inc

3

.436

02/24/43

1,384,892‌

1,225,000

Goldman

Sachs

Group,

Inc

4

.800

07/08/44

1,014,623‌

1,650,000

Goldman

Sachs

Group,

Inc

5

.150

05/22/45

1,376,820‌

200,000

Goldman

Sachs

Group,

Inc

4

.750

10/21/45

166,770‌

1,250,000

Golub

Capital

BDC,

Inc

2

.500

08/24/26

1,047,813‌

1,000,000

Golub

Capital

BDC,

Inc

2

.050

02/15/27

801,861‌

1,000,000

Hercules

Capital,

Inc

3

.375

01/20/27

829,262‌

825,000

Intercontinental

Exchange,

Inc

3

.750

12/01/25

796,105‌

1,000,000

Intercontinental

Exchange,

Inc

3

.100

09/15/27

907,947‌

1,500,000

Intercontinental

Exchange,

Inc

4

.000

09/15/27

1,423,850‌

500,000

Intercontinental

Exchange,

Inc

3

.750

09/21/28

459,608‌

1,500,000

Intercontinental

Exchange,

Inc

4

.350

06/15/29

1,418,736‌

1,500,000

Intercontinental

Exchange,

Inc

2

.100

06/15/30

1,198,157‌

1,000,000

Intercontinental

Exchange,

Inc

1

.850

09/15/32

736,782‌

2,000,000

Intercontinental

Exchange,

Inc

4

.600

03/15/33

1,862,820‌

775,000

Intercontinental

Exchange,

Inc

2

.650

09/15/40

521,843‌

575,000

Intercontinental

Exchange,

Inc

4

.250

09/21/48

469,097‌

1,000,000

Intercontinental

Exchange,

Inc

3

.000

06/15/50

653,694‌

2,000,000

Intercontinental

Exchange,

Inc

4

.950

06/15/52

1,775,464‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

63

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

1,000,000

Intercontinental

Exchange,

Inc

3

.000

%

09/15/60

$

597,730‌

2,000,000

Intercontinental

Exchange,

Inc

5

.200

06/15/62

1,789,894‌

200,000

Invesco

Finance

plc

4

.000

01/30/24

197,191‌

800,000

Invesco

Finance

plc

3

.750

01/15/26

764,518‌

200,000

Invesco

Finance

plc

5

.375

11/30/43

178,243‌

2,000,000

J

Paul

Getty

Trust

0

.391

01/01/24

1,901,538‌

300,000

Janus

Capital

Group,

Inc

4

.875

08/01/25

293,154‌

1,000,000

Jefferies

Group

LLC

4

.850

01/15/27

955,926‌

600,000

Jefferies

Group

LLC

6

.450

06/08/27

608,296‌

1,000,000

Jefferies

Group

LLC

4

.150

01/23/30

853,771‌

1,000,000

Jefferies

Group

LLC

2

.625

10/15/31

725,462‌

1,000,000

Jefferies

Group

LLC

2

.750

10/15/32

712,444‌

3,000,000

Landwirtschaftliche

Rentenbank

3

.875

09/28/27

2,952,510‌

150,000

Lazard

Group

LLC

3

.750

02/13/25

144,614‌

200,000

Lazard

Group

LLC

3

.625

03/01/27

183,591‌

325,000

Lazard

Group

LLC

4

.500

09/19/28

298,040‌

425,000

Lazard

Group

LLC

4

.375

03/11/29

390,150‌

400,000

Legg

Mason,

Inc

5

.625

01/15/44

378,431‌

1,250,000

Main

Street

Capital

Corp

3

.000

07/14/26

1,052,387‌

1,200,000

Moody's

Corp

3

.250

01/15/28

1,084,839‌

300,000

Moody's

Corp

4

.250

02/01/29

283,389‌

500,000

Moody's

Corp

4

.250

08/08/32

453,126‌

1,000,000

Moody's

Corp

2

.750

08/19/41

664,816‌

200,000

Moody's

Corp

5

.250

07/15/44

183,965‌

300,000

Moody's

Corp

4

.875

12/17/48

265,487‌

750,000

Moody's

Corp

3

.250

05/20/50

508,239‌

1,000,000

e

Moody's

Corp

3

.750

02/25/52

739,808‌

1,000,000

Moody's

Corp

3

.100

11/29/61

609,317‌

4,092,000

Morgan

Stanley

3

.700

10/23/24

3,988,287‌

2,000,000

Morgan

Stanley

3

.620

04/17/25

1,942,328‌

6,000,000

Morgan

Stanley

0

.790

05/30/25

5,522,409‌

1,025,000

Morgan

Stanley

2

.720

07/22/25

972,321‌

500,000

Morgan

Stanley

4

.000

07/23/25

483,948‌

950,000

Morgan

Stanley

5

.000

11/24/25

937,797‌

575,000

Morgan

Stanley

3

.875

01/27/26

548,478‌

4,000,000

Morgan

Stanley

2

.630

02/18/26

3,726,728‌

2,000,000

Morgan

Stanley

4

.679

07/17/26

1,947,445‌

500,000

Morgan

Stanley

3

.125

07/27/26

460,407‌

400,000

Morgan

Stanley

4

.350

09/08/26

380,970‌

5,000,000

Morgan

Stanley

0

.985

12/10/26

4,311,437‌

2,750,000

Morgan

Stanley

3

.625

01/20/27

2,558,113‌

1,975,000

Morgan

Stanley

3

.950

04/23/27

1,835,335‌

4,975,000

Morgan

Stanley

1

.593

05/04/27

4,298,826‌

3,325,000

Morgan

Stanley

1

.512

07/20/27

2,831,857‌

2,000,000

Morgan

Stanley

4

.210

04/20/28

1,871,434‌

1,575,000

Morgan

Stanley

3

.591

07/22/28

1,416,854‌

4,850,000

Morgan

Stanley

3

.772

01/24/29

4,361,808‌

3,475,000

Morgan

Stanley

4

.431

01/23/30

3,194,432‌

5,000,000

Morgan

Stanley

2

.699

01/22/31

4,053,852‌

500,000

Morgan

Stanley

3

.622

04/01/31

432,115‌

5,000,000

Morgan

Stanley

1

.794

02/13/32

3,654,105‌

150,000

Morgan

Stanley

7

.250

04/01/32

162,894‌

2,500,000

Morgan

Stanley

1

.928

04/28/32

1,825,110‌

4,000,000

Morgan

Stanley

2

.239

07/21/32

3,004,870‌

3,500,000

Morgan

Stanley

2

.511

10/20/32

2,674,793‌

3,000,000

Morgan

Stanley

2

.943

01/21/33

2,371,690‌

2,000,000

Morgan

Stanley

4

.889

07/20/33

1,853,125‌

1,300,000

Morgan

Stanley

2

.484

09/16/36

931,617‌

1,000,000

Morgan

Stanley

5

.297

04/20/37

898,558‌

725,000

Morgan

Stanley

3

.971

07/22/38

578,435‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

64

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

2,675,000

Morgan

Stanley

4

.457

%

04/22/39

$

2,262,589‌

1,525,000

Morgan

Stanley

3

.217

04/22/42

1,062,811‌

275,000

Morgan

Stanley

6

.375

07/24/42

285,369‌

175,000

Morgan

Stanley

4

.300

01/27/45

138,519‌

2,200,000

Morgan

Stanley

4

.375

01/22/47

1,757,509‌

900,000

Morgan

Stanley

5

.597

03/24/51

861,465‌

1,425,000

Morgan

Stanley

2

.802

01/25/52

860,268‌

400,000

NASDAQ,

Inc

3

.850

06/30/26

381,542‌

1,000,000

NASDAQ,

Inc

1

.650

01/15/31

744,623‌

1,000,000

NASDAQ,

Inc

2

.500

12/21/40

626,853‌

500,000

NASDAQ,

Inc

3

.250

04/28/50

327,950‌

500,000

NASDAQ,

Inc

3

.950

03/07/52

371,521‌

200,000

National

Rural

Utilities

Cooperative

Finance

Corp

3

.400

11/15/23

197,129‌

300,000

National

Rural

Utilities

Cooperative

Finance

Corp

2

.950

02/07/24

293,062‌

400,000

National

Rural

Utilities

Cooperative

Finance

Corp

2

.850

01/27/25

383,045‌

1,000,000

National

Rural

Utilities

Cooperative

Finance

Corp

3

.450

06/15/25

964,736‌

200,000

National

Rural

Utilities

Cooperative

Finance

Corp

3

.250

11/01/25

190,024‌

1,000,000

National

Rural

Utilities

Cooperative

Finance

Corp

1

.000

06/15/26

874,120‌

1,000,000

National

Rural

Utilities

Cooperative

Finance

Corp

3

.400

02/07/28

917,139‌

200,000

National

Rural

Utilities

Cooperative

Finance

Corp

3

.900

11/01/28

184,589‌

300,000

National

Rural

Utilities

Cooperative

Finance

Corp

3

.700

03/15/29

274,515‌

1,000,000

National

Rural

Utilities

Cooperative

Finance

Corp

2

.400

03/15/30

823,520‌

1,000,000

National

Rural

Utilities

Cooperative

Finance

Corp

1

.350

03/15/31

731,487‌

1,000,000

National

Rural

Utilities

Cooperative

Finance

Corp

1

.650

06/15/31

749,389‌

400,000

National

Rural

Utilities

Cooperative

Finance

Corp

4

.150

12/15/32

366,008‌

500,000

National

Rural

Utilities

Cooperative

Finance

Corp

4

.750

04/30/43

454,929‌

200,000

National

Rural

Utilities

Cooperative

Finance

Corp

5

.250

04/20/46

179,500‌

200,000

National

Rural

Utilities

Cooperative

Finance

Corp

4

.400

11/01/48

167,324‌

550,000

National

Rural

Utilities

Cooperative

Finance

Corp

4

.300

03/15/49

456,173‌

300,000

Navient

Solutions

LLC

0

.000

10/03/22

300,000‌

1,500,000

Nomura

Holdings,

Inc

2

.648

01/16/25

1,404,745‌

1,000,000

Nomura

Holdings,

Inc

1

.851

07/16/25

902,239‌

1,000,000

Nomura

Holdings,

Inc

1

.653

07/14/26

854,703‌

1,000,000

Nomura

Holdings,

Inc

2

.329

01/22/27

859,548‌

500,000

Nomura

Holdings,

Inc

5

.386

07/06/27

484,711‌

1,000,000

Nomura

Holdings,

Inc

2

.172

07/14/28

799,213‌

1,000,000

Nomura

Holdings,

Inc

2

.710

01/22/29

813,919‌

500,000

Nomura

Holdings,

Inc

5

.605

07/06/29

475,822‌

1,500,000

e

Nomura

Holdings,

Inc

3

.103

01/16/30

1,215,545‌

500,000

Nomura

Holdings,

Inc

2

.679

07/16/30

382,454‌

1,500,000

Nomura

Holdings,

Inc

2

.608

07/14/31

1,112,231‌

1,000,000

Nomura

Holdings,

Inc

2

.999

01/22/32

756,665‌

625,000

Northern

Trust

Corp

3

.950

10/30/25

610,169‌

725,000

Northern

Trust

Corp

4

.000

05/10/27

699,100‌

500,000

e

Northern

Trust

Corp

3

.650

08/03/28

465,404‌

500,000

Northern

Trust

Corp

3

.150

05/03/29

446,538‌

700,000

Northern

Trust

Corp

1

.950

05/01/30

554,544‌

100,000

Northern

Trust

Corp

3

.375

05/08/32

89,728‌

1,500,000

Oaktree

Specialty

Lending

Corp

2

.700

01/15/27

1,263,065‌

1,250,000

Oesterreichische

Kontrollbank

AG.

0

.500

09/16/24

1,160,643‌

1,500,000

Oesterreichische

Kontrollbank

AG.

1

.500

02/12/25

1,403,160‌

2,000,000

Oesterreichische

Kontrollbank

AG.

0

.375

09/17/25

1,778,925‌

2,500,000

Oesterreichische

Kontrollbank

AG.

0

.500

02/02/26

2,198,350‌

500,000

ORIX

Corp

4

.050

01/16/24

492,748‌

500,000

ORIX

Corp

3

.250

12/04/24

480,251‌

200,000

ORIX

Corp

3

.700

07/18/27

184,354‌

500,000

ORIX

Corp

5

.000

09/13/27

485,798‌

1,000,000

e

ORIX

Corp

2

.250

03/09/31

775,091‌

1,000,000

ORIX

Corp

4

.000

04/13/32

879,026‌

500,000

ORIX

Corp

5

.200

09/13/32

475,536‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

65

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

500,000

Owl

Rock

Capital

Corp

4

.000

%

03/30/25

$

469,641‌

500,000

Owl

Rock

Capital

Corp

3

.750

07/22/25

459,111‌

1,000,000

Owl

Rock

Capital

Corp

4

.250

01/15/26

914,542‌

750,000

Owl

Rock

Capital

Corp

3

.400

07/15/26

643,501‌

1,000,000

Owl

Rock

Capital

Corp

2

.875

06/11/28

761,547‌

1,000,000

OWL

Rock

Core

Income

Corp

5

.500

03/21/25

940,805‌

1,000,000

OWL

Rock

Core

Income

Corp

4

.700

02/08/27

875,877‌

750,000

g

OWL

Rock

Core

Income

Corp

7

.750

09/16/27

738,611‌

300,000

PACCAR

Financial

Corp

2

.150

08/15/24

286,272‌

500,000

PACCAR

Financial

Corp

2

.850

04/07/25

478,015‌

1,000,000

PACCAR

Financial

Corp

1

.100

05/11/26

880,359‌

1,000,000

Prospect

Capital

Corp

3

.364

11/15/26

821,722‌

1,000,000

Prospect

Capital

Corp

3

.437

10/15/28

728,019‌

425,000

Raymond

James

Financial,

Inc

4

.950

07/15/46

374,500‌

1,000,000

Raymond

James

Financial,

Inc

3

.750

04/01/51

705,314‌

625,000

g

S&P

Global,

Inc

2

.450

03/01/27

560,221‌

1,000,000

g

S&P

Global,

Inc

2

.700

03/01/29

864,745‌

500,000

S&P

Global,

Inc

2

.500

12/01/29

417,786‌

500,000

S&P

Global,

Inc

1

.250

08/15/30

374,366‌

1,000,000

g

S&P

Global,

Inc

2

.900

03/01/32

834,291‌

500,000

S&P

Global,

Inc

3

.250

12/01/49

350,860‌

1,000,000

g

S&P

Global,

Inc

3

.700

03/01/52

756,457‌

500,000

S&P

Global,

Inc

2

.300

08/15/60

263,254‌

1,000,000

g

S&P

Global,

Inc

3

.900

03/01/62

755,959‌

1,250,000

Shire

Acquisitions

Investments

Ireland

DAC

2

.875

09/23/23

1,222,450‌

1,400,000

Shire

Acquisitions

Investments

Ireland

DAC

3

.200

09/23/26

1,291,277‌

1,500,000

e

Sixth

Street

Specialty

Lending,

Inc

2

.500

08/01/26

1,278,749‌

300,000

State

Street

Corp

3

.776

12/03/24

296,720‌

750,000

State

Street

Corp

3

.300

12/16/24

729,177‌

375,000

State

Street

Corp

3

.550

08/18/25

362,168‌

1,000,000

State

Street

Corp

2

.354

11/01/25

945,196‌

500,000

State

Street

Corp

2

.901

03/30/26

471,954‌

650,000

State

Street

Corp

2

.650

05/19/26

606,942‌

1,000,000

State

Street

Corp

1

.684

11/18/27

872,598‌

1,000,000

State

Street

Corp

2

.203

02/07/28

876,706‌

300,000

State

Street

Corp

4

.141

12/03/29

279,307‌

750,000

State

Street

Corp

2

.400

01/24/30

625,579‌

1,375,000

State

Street

Corp

2

.200

03/03/31

1,070,661‌

1,000,000

State

Street

Corp

2

.623

02/07/33

791,659‌

200,000

State

Street

Corp

4

.421

05/13/33

184,527‌

750,000

State

Street

Corp

4

.164

08/04/33

676,709‌

500,000

State

Street

Corp

3

.031

11/01/34

413,475‌

100,000

Stifel

Financial

Corp

4

.250

07/18/24

98,236‌

500,000

Synchrony

Financial

4

.375

03/19/24

491,034‌

250,000

Synchrony

Financial

4

.250

08/15/24

243,762‌

600,000

Synchrony

Financial

4

.500

07/23/25

572,246‌

300,000

Synchrony

Financial

3

.700

08/04/26

274,185‌

900,000

Synchrony

Financial

3

.950

12/01/27

780,683‌

500,000

Synchrony

Financial

5

.150

03/19/29

454,343‌

2,000,000

e

Synchrony

Financial

2

.875

10/28/31

1,421,396‌

500,000

Toyota

Motor

Credit

Corp

3

.450

09/20/23

494,243‌

400,000

Toyota

Motor

Credit

Corp

3

.350

01/08/24

394,126‌

1,000,000

Toyota

Motor

Credit

Corp

2

.000

10/07/24

950,415‌

3,000,000

Toyota

Motor

Credit

Corp

1

.800

02/13/25

2,798,222‌

1,500,000

Toyota

Motor

Credit

Corp

3

.400

04/14/25

1,449,360‌

1,000,000

Toyota

Motor

Credit

Corp

3

.650

08/18/25

968,262‌

1,000,000

Toyota

Motor

Credit

Corp

0

.800

10/16/25

886,554‌

1,000,000

Toyota

Motor

Credit

Corp

0

.800

01/09/26

880,487‌

4,000,000

Toyota

Motor

Credit

Corp

1

.125

06/18/26

3,498,984‌

1,000,000

Toyota

Motor

Credit

Corp

1

.900

01/13/27

881,426‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

66

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

1,000,000

Toyota

Motor

Credit

Corp

3

.050

%

03/22/27

$

920,874‌

2,000,000

Toyota

Motor

Credit

Corp

4

.550

09/20/27

1,953,205‌

300,000

Toyota

Motor

Credit

Corp

3

.050

01/11/28

272,209‌

400,000

Toyota

Motor

Credit

Corp

3

.650

01/08/29

370,410‌

2,000,000

Toyota

Motor

Credit

Corp

4

.450

06/29/29

1,929,598‌

650,000

Toyota

Motor

Credit

Corp

2

.150

02/13/30

533,743‌

225,000

Toyota

Motor

Credit

Corp

3

.375

04/01/30

200,947‌

1,000,000

e

Toyota

Motor

Credit

Corp

1

.650

01/10/31

770,010‌

1,000,000

Toyota

Motor

Credit

Corp

1

.900

09/12/31

773,602‌

1,000,000

Toyota

Motor

Credit

Corp

2

.400

01/13/32

801,661‌

300,000

Unilever

Capital

Corp

3

.250

03/07/24

295,094‌

1,100,000

Unilever

Capital

Corp

2

.600

05/05/24

1,067,305‌

1,000,000

Unilever

Capital

Corp

0

.626

08/12/24

928,462‌

500,000

Unilever

Capital

Corp

3

.375

03/22/25

484,398‌

450,000

Unilever

Capital

Corp

3

.100

07/30/25

431,937‌

225,000

Unilever

Capital

Corp

2

.000

07/28/26

203,779‌

800,000

Unilever

Capital

Corp

2

.900

05/05/27

736,226‌

1,150,000

Unilever

Capital

Corp

3

.500

03/22/28

1,075,030‌

1,000,000

Unilever

Capital

Corp

2

.125

09/06/29

831,582‌

175,000

Unilever

Capital

Corp

1

.375

09/14/30

134,181‌

200,000

Unilever

Capital

Corp

1

.750

08/12/31

154,112‌

430,000

Unilever

Capital

Corp

5

.900

11/15/32

456,804‌

500,000

Unilever

Capital

Corp

2

.625

08/12/51

322,566‌

550,000

Voya

Financial,

Inc

3

.650

06/15/26

516,351‌

200,000

Voya

Financial,

Inc

5

.700

07/15/43

179,593‌

200,000

Voya

Financial,

Inc

4

.800

06/15/46

163,480‌

TOTAL

DIVERSIFIED

FINANCIALS

504,943,425‌

ENERGY

-

1

.6

%

875,000

Baker

Hughes

a

GE

Co

LLC

3

.337

12/15/27

786,873‌

1,000,000

Baker

Hughes

a

GE

Co

LLC

3

.138

11/07/29

848,672‌

500,000

Baker

Hughes

a

GE

Co

LLC

4

.486

05/01/30

461,276‌

800,000

Baker

Hughes

a

GE

Co

LLC

5

.125

09/15/40

702,171‌

875,000

Baker

Hughes

a

GE

Co

LLC

4

.080

12/15/47

648,262‌

1,000,000

Baker

Hughes

Holdings

LLC

2

.061

12/15/26

878,928‌

200,000

Boardwalk

Pipelines

LP

3

.375

02/01/23

199,709‌

475,000

Boardwalk

Pipelines

LP

5

.950

06/01/26

479,815‌

450,000

Boardwalk

Pipelines

LP

4

.450

07/15/27

417,574‌

500,000

Boardwalk

Pipelines

LP

4

.800

05/03/29

459,154‌

1,000,000

Boardwalk

Pipelines

LP

3

.400

02/15/31

804,375‌

1,000,000

Boardwalk

Pipelines

LP

3

.600

09/01/32

790,734‌

700,000

e

BP

Capital

Markets

America,

Inc

3

.796

09/21/25

681,877‌

1,800,000

BP

Capital

Markets

America,

Inc

3

.410

02/11/26

1,710,790‌

150,000

BP

Capital

Markets

America,

Inc

3

.119

05/04/26

140,231‌

200,000

BP

Capital

Markets

America,

Inc

3

.017

01/16/27

182,661‌

500,000

BP

Capital

Markets

America,

Inc

3

.588

04/14/27

468,264‌

750,000

BP

Capital

Markets

America,

Inc

3

.937

09/21/28

694,823‌

1,300,000

BP

Capital

Markets

America,

Inc

4

.234

11/06/28

1,220,556‌

1,000,000

BP

Capital

Markets

America,

Inc

3

.633

04/06/30

898,412‌

1,000,000

BP

Capital

Markets

America,

Inc

1

.749

08/10/30

777,249‌

2,000,000

BP

Capital

Markets

America,

Inc

2

.721

01/12/32

1,624,795‌

1,000,000

BP

Capital

Markets

America,

Inc

3

.060

06/17/41

713,013‌

2,000,000

BP

Capital

Markets

America,

Inc

3

.000

02/24/50

1,297,283‌

950,000

BP

Capital

Markets

America,

Inc

2

.772

11/10/50

589,954‌

2,500,000

BP

Capital

Markets

America,

Inc

2

.939

06/04/51

1,587,720‌

1,000,000

BP

Capital

Markets

America,

Inc

3

.001

03/17/52

640,150‌

2,500,000

BP

Capital

Markets

America,

Inc

3

.379

02/08/61

1,628,927‌

925,000

BP

Capital

Markets

plc

3

.279

09/19/27

847,676‌

300,000

BP

Capital

Markets

plc

3

.723

11/28/28

274,631‌

600,000

Canadian

Natural

Resources

Ltd

3

.800

04/15/24

586,465‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

67

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

700,000

Canadian

Natural

Resources

Ltd

3

.900

%

02/01/25

$

674,825‌

750,000

Canadian

Natural

Resources

Ltd

2

.050

07/15/25

683,799‌

1,125,000

Canadian

Natural

Resources

Ltd

3

.850

06/01/27

1,039,028‌

750,000

Canadian

Natural

Resources

Ltd

2

.950

07/15/30

617,086‌

1,625,000

Canadian

Natural

Resources

Ltd

6

.250

03/15/38

1,567,269‌

800,000

Canadian

Natural

Resources

Ltd

4

.950

06/01/47

680,491‌

200,000

Cenovus

Energy,

Inc

2

.650

01/15/32

154,138‌

425,000

Cenovus

Energy,

Inc

3

.750

02/15/52

287,994‌

425,000

Chevron

Corp

2

.895

03/03/24

415,544‌

400,000

Chevron

Corp

3

.326

11/17/25

383,238‌

2,475,000

Chevron

Corp

2

.954

05/16/26

2,329,277‌

2,225,000

Chevron

Corp

1

.995

05/11/27

1,971,826‌

600,000

Chevron

Corp

2

.236

05/11/30

501,235‌

1,000,000

Chevron

Corp

3

.078

05/11/50

707,522‌

775,000

Columbia

Pipeline

Group,

Inc

4

.500

06/01/25

758,691‌

300,000

Columbia

Pipeline

Group,

Inc

5

.800

06/01/45

277,413‌

750,000

ConocoPhillips

5

.900

10/15/32

777,011‌

77,000

ConocoPhillips

Co

4

.150

11/15/34

65,998‌

1,700,000

e,g

ConocoPhillips

Co

3

.758

03/15/42

1,369,853‌

300,000

ConocoPhillips

Co

4

.300

11/15/44

250,014‌

850,000

ConocoPhillips

Co

3

.800

03/15/52

649,515‌

3,612,000

g

ConocoPhillips

Co

4

.025

03/15/62

2,729,652‌

750,000

ConocoPhillips

Holding

Co

6

.950

04/15/29

822,590‌

525,000

g

Coterra

Energy,

Inc

3

.900

05/15/27

486,482‌

300,000

g

Coterra

Energy,

Inc

4

.375

03/15/29

277,332‌

2,000,000

Devon

Energy

Corp

4

.500

01/15/30

1,820,421‌

885,000

Devon

Energy

Corp

5

.600

07/15/41

792,481‌

700,000

Devon

Energy

Corp

4

.750

05/15/42

570,026‌

1,100,000

Devon

Energy

Corp

5

.000

06/15/45

915,345‌

425,000

Diamondback

Energy,

Inc

3

.250

12/01/26

391,948‌

1,000,000

Diamondback

Energy,

Inc

3

.500

12/01/29

863,138‌

650,000

Diamondback

Energy,

Inc

3

.125

03/24/31

527,235‌

1,000,000

Diamondback

Energy,

Inc

4

.400

03/24/51

753,287‌

450,000

Diamondback

Energy,

Inc

4

.250

03/15/52

328,515‌

750,000

Eastern

Gas

Transmission

&

Storage,

Inc

3

.000

11/15/29

642,798‌

200,000

Eastern

Gas

Transmission

&

Storage,

Inc

4

.800

11/01/43

166,834‌

200,000

Eastern

Gas

Transmission

&

Storage,

Inc

4

.600

12/15/44

162,011‌

300,000

El

Paso

Corp

7

.750

01/15/32

324,577‌

300,000

Enable

Midstream

Partners

LP

3

.900

05/15/24

292,486‌

200,000

Enable

Midstream

Partners

LP

4

.400

03/15/27

186,402‌

1,250,000

Enable

Midstream

Partners

LP

4

.950

05/15/28

1,166,252‌

500,000

Enable

Midstream

Partners

LP

4

.150

09/15/29

435,969‌

100,000

Enable

Midstream

Partners

LP

5

.000

05/15/44

77,116‌

1,200,000

Enbridge

Energy

Partners

LP

5

.875

10/15/25

1,213,354‌

300,000

Enbridge

Energy

Partners

LP

5

.500

09/15/40

273,012‌

200,000

Enbridge

Energy

Partners

LP

7

.375

10/15/45

217,342‌

300,000

Enbridge,

Inc

4

.000

10/01/23

297,362‌

250,000

Enbridge,

Inc

2

.500

01/15/25

234,721‌

950,000

Enbridge,

Inc

2

.500

02/14/25

892,280‌

1,500,000

Enbridge,

Inc

1

.600

10/04/26

1,294,126‌

100,000

Enbridge,

Inc

4

.250

12/01/26

95,110‌

100,000

Enbridge,

Inc

3

.700

07/15/27

92,658‌

500,000

Enbridge,

Inc

3

.125

11/15/29

427,568‌

1,500,000

Enbridge,

Inc

2

.500

08/01/33

1,123,318‌

300,000

Enbridge,

Inc

4

.500

06/10/44

239,261‌

925,000

Enbridge,

Inc

5

.500

12/01/46

858,260‌

1,000,000

Enbridge,

Inc

4

.000

11/15/49

742,262‌

2,000,000

Enbridge,

Inc

3

.400

08/01/51

1,340,435‌

200,000

Energy

Transfer

Operating

LP

4

.200

09/15/23

197,848‌

500,000

Energy

Transfer

Operating

LP

4

.900

02/01/24

497,234‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

68

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

2,775,000

Energy

Transfer

Operating

LP

4

.500

%

04/15/24

$

2,731,286‌

825,000

Energy

Transfer

Operating

LP

4

.050

03/15/25

791,097‌

400,000

Energy

Transfer

Operating

LP

2

.900

05/15/25

372,839‌

325,000

Energy

Transfer

Operating

LP

4

.750

01/15/26

313,133‌

250,000

Energy

Transfer

Operating

LP

4

.200

04/15/27

231,193‌

350,000

Energy

Transfer

Operating

LP

4

.950

06/15/28

325,986‌

2,600,000

Energy

Transfer

Operating

LP

5

.250

04/15/29

2,445,184‌

3,125,000

Energy

Transfer

Operating

LP

3

.750

05/15/30

2,646,131‌

400,000

Energy

Transfer

Operating

LP

4

.900

03/15/35

336,128‌

500,000

Energy

Transfer

Operating

LP

5

.800

06/15/38

438,001‌

140,000

Energy

Transfer

Operating

LP

7

.500

07/01/38

140,855‌

650,000

Energy

Transfer

Operating

LP

6

.500

02/01/42

604,904‌

200,000

Energy

Transfer

Operating

LP

5

.150

02/01/43

157,906‌

200,000

Energy

Transfer

Operating

LP

5

.950

10/01/43

173,274‌

550,000

Energy

Transfer

Operating

LP

5

.150

03/15/45

432,828‌

625,000

Energy

Transfer

Operating

LP

6

.125

12/15/45

548,103‌

500,000

Energy

Transfer

Operating

LP

5

.300

04/15/47

398,877‌

1,025,000

Energy

Transfer

Operating

LP

6

.000

06/15/48

885,591‌

2,750,000

Energy

Transfer

Operating

LP

6

.250

04/15/49

2,439,598‌

2,175,000

Energy

Transfer

Operating

LP

5

.000

05/15/50

1,699,976‌

950,000

Enterprise

Products

Operating

LLC

3

.900

02/15/24

932,908‌

225,000

Enterprise

Products

Operating

LLC

3

.750

02/15/25

217,859‌

450,000

Enterprise

Products

Operating

LLC

3

.700

02/15/26

429,307‌

3,065,000

Enterprise

Products

Operating

LLC

3

.950

02/15/27

2,915,757‌

725,000

Enterprise

Products

Operating

LLC

4

.150

10/16/28

674,041‌

450,000

Enterprise

Products

Operating

LLC

3

.125

07/31/29

387,615‌

2,250,000

Enterprise

Products

Operating

LLC

2

.800

01/31/30

1,878,954‌

480,000

Enterprise

Products

Operating

LLC

6

.125

10/15/39

469,115‌

175,000

Enterprise

Products

Operating

LLC

5

.950

02/01/41

167,458‌

525,000

Enterprise

Products

Operating

LLC

4

.850

08/15/42

444,936‌

325,000

Enterprise

Products

Operating

LLC

4

.450

02/15/43

261,055‌

1,775,000

Enterprise

Products

Operating

LLC

4

.850

03/15/44

1,489,170‌

775,000

Enterprise

Products

Operating

LLC

5

.100

02/15/45

659,994‌

500,000

Enterprise

Products

Operating

LLC

4

.900

05/15/46

424,868‌

675,000

Enterprise

Products

Operating

LLC

4

.250

02/15/48

520,564‌

2,475,000

Enterprise

Products

Operating

LLC

4

.800

02/01/49

2,036,509‌

950,000

Enterprise

Products

Operating

LLC

4

.200

01/31/50

725,430‌

775,000

Enterprise

Products

Operating

LLC

3

.700

01/31/51

544,938‌

1,000,000

Enterprise

Products

Operating

LLC

3

.200

02/15/52

638,244‌

425,000

Enterprise

Products

Operating

LLC

3

.300

02/15/53

276,492‌

200,000

Enterprise

Products

Operating

LLC

4

.950

10/15/54

163,085‌

1,625,000

Enterprise

Products

Operating

LLC

3

.950

01/31/60

1,120,578‌

700,000

Enterprise

Products

Operating

LLC

5

.250

08/16/77

585,063‌

100,000

Enterprise

Products

Operating

LLC

5

.908

08/16/77

91,250‌

400,000

Enterprise

Products

Operating

LLC

5

.375

02/15/78

300,407‌

475,000

EOG

Resources,

Inc

4

.150

01/15/26

462,707‌

500,000

EOG

Resources,

Inc

4

.375

04/15/30

476,152‌

200,000

EOG

Resources,

Inc

3

.900

04/01/35

170,943‌

200,000

EOG

Resources,

Inc

5

.100

01/15/36

183,719‌

500,000

EOG

Resources,

Inc

4

.950

04/15/50

465,149‌

3,000,000

EQT

Corp

6

.125

02/01/25

3,003,840‌

1,500,000

h

EQT

Corp

5

.700

04/01/28

1,470,525‌

475,000

Equinor

ASA

2

.650

01/15/24

462,405‌

150,000

Equinor

ASA

3

.700

03/01/24

147,811‌

500,000

Equinor

ASA

3

.250

11/10/24

485,577‌

500,000

Equinor

ASA

2

.875

04/06/25

476,920‌

400,000

Equinor

ASA

1

.750

01/22/26

359,694‌

500,000

Equinor

ASA

3

.000

04/06/27

461,387‌

1,500,000

e

Equinor

ASA

3

.625

09/10/28

1,397,650‌

300,000

Equinor

ASA

3

.125

04/06/30

263,141‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

69

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

1,175,000

Equinor

ASA

2

.375

%

05/22/30

$

975,823‌

300,000

Equinor

ASA

3

.625

04/06/40

239,993‌

200,000

Equinor

ASA

5

.100

08/17/40

190,382‌

400,000

Equinor

ASA

4

.250

11/23/41

343,753‌

300,000

Equinor

ASA

3

.950

05/15/43

244,073‌

1,300,000

Equinor

ASA

4

.800

11/08/43

1,187,515‌

750,000

Equinor

ASA

3

.250

11/18/49

537,569‌

1,300,000

Equinor

ASA

3

.700

04/06/50

1,008,328‌

175,000

Exxon

Mobil

Corp

3

.176

03/15/24

171,698‌

3,000,000

Exxon

Mobil

Corp

2

.992

03/19/25

2,877,405‌

4,177,000

Exxon

Mobil

Corp

3

.043

03/01/26

3,946,753‌

1,000,000

e

Exxon

Mobil

Corp

2

.275

08/16/26

910,982‌

1,750,000

e

Exxon

Mobil

Corp

3

.294

03/19/27

1,645,195‌

1,000,000

e

Exxon

Mobil

Corp

2

.440

08/16/29

858,977‌

750,000

Exxon

Mobil

Corp

3

.482

03/19/30

681,062‌

750,000

Exxon

Mobil

Corp

2

.610

10/15/30

635,381‌

1,000,000

Exxon

Mobil

Corp

2

.995

08/16/39

742,212‌

1,750,000

Exxon

Mobil

Corp

4

.227

03/19/40

1,519,407‌

500,000

Exxon

Mobil

Corp

3

.567

03/06/45

378,118‌

1,225,000

Exxon

Mobil

Corp

4

.114

03/01/46

1,011,413‌

1,400,000

Exxon

Mobil

Corp

3

.095

08/16/49

972,886‌

2,100,000

Exxon

Mobil

Corp

4

.327

03/19/50

1,788,390‌

2,800,000

Exxon

Mobil

Corp

3

.452

04/15/51

2,085,002‌

75,000

Halliburton

Co

3

.800

11/15/25

72,232‌

1,000,000

e

Halliburton

Co

2

.920

03/01/30

832,293‌

500,000

Halliburton

Co

4

.850

11/15/35

436,201‌

125,000

Halliburton

Co

6

.700

09/15/38

125,426‌

125,000

Halliburton

Co

7

.450

09/15/39

133,669‌

750,000

Halliburton

Co

4

.750

08/01/43

603,519‌

2,825,000

Halliburton

Co

5

.000

11/15/45

2,345,823‌

1,000,000

Helmerich

&

Payne,

Inc

2

.900

09/29/31

784,434‌

200,000

Hess

Corp

3

.500

07/15/24

193,326‌

2,100,000

Hess

Corp

4

.300

04/01/27

1,975,518‌

200,000

Hess

Corp

6

.000

01/15/40

185,992‌

1,190,000

Hess

Corp

5

.600

02/15/41

1,040,743‌

900,000

Hess

Corp

5

.800

04/01/47

803,742‌

500,000

g

HF

Sinclair

Corp

2

.625

10/01/23

483,913‌

200,000

g

HF

Sinclair

Corp

5

.875

04/01/26

196,042‌

500,000

g

HF

Sinclair

Corp

4

.500

10/01/30

428,524‌

130,000

Husky

Energy,

Inc

6

.800

09/15/37

129,640‌

300,000

Kinder

Morgan

Energy

Partners

LP

4

.150

02/01/24

295,913‌

500,000

Kinder

Morgan

Energy

Partners

LP

4

.250

09/01/24

491,638‌

300,000

Kinder

Morgan

Energy

Partners

LP

6

.950

01/15/38

298,290‌

535,000

Kinder

Morgan

Energy

Partners

LP

6

.500

09/01/39

508,583‌

400,000

Kinder

Morgan

Energy

Partners

LP

4

.700

11/01/42

312,382‌

500,000

Kinder

Morgan

Energy

Partners

LP

5

.000

03/01/43

399,897‌

400,000

Kinder

Morgan

Energy

Partners

LP

5

.500

03/01/44

332,501‌

200,000

Kinder

Morgan

Energy

Partners

LP

5

.400

09/01/44

169,438‌

1,500,000

Kinder

Morgan,

Inc

1

.750

11/15/26

1,298,948‌

2,825,000

Kinder

Morgan,

Inc

4

.300

03/01/28

2,643,769‌

450,000

Kinder

Morgan,

Inc

2

.000

02/15/31

334,919‌

1,250,000

Kinder

Morgan,

Inc

4

.800

02/01/33

1,121,647‌

3,300,000

Kinder

Morgan,

Inc

5

.300

12/01/34

2,980,879‌

1,600,000

Kinder

Morgan,

Inc

5

.550

06/01/45

1,393,919‌

2,325,000

Kinder

Morgan,

Inc

5

.200

03/01/48

1,943,013‌

500,000

Kinder

Morgan,

Inc

3

.250

08/01/50

314,555‌

2,500,000

Kinder

Morgan,

Inc

3

.600

02/15/51

1,620,823‌

750,000

Kinder

Morgan,

Inc

5

.450

08/01/52

649,748‌

900,000

Magellan

Midstream

Partners

LP

5

.000

03/01/26

888,842‌

475,000

Magellan

Midstream

Partners

LP

3

.250

06/01/30

404,443‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

70

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

225,000

Magellan

Midstream

Partners

LP

4

.250

%

09/15/46

$

168,355‌

425,000

Magellan

Midstream

Partners

LP

4

.200

10/03/47

313,814‌

525,000

Magellan

Midstream

Partners

LP

4

.850

02/01/49

425,951‌

1,500,000

Magellan

Midstream

Partners

LP

3

.950

03/01/50

1,065,013‌

1,475,000

Marathon

Oil

Corp

4

.400

07/15/27

1,377,192‌

505,000

Marathon

Oil

Corp

6

.600

10/01/37

490,461‌

600,000

Marathon

Oil

Corp

5

.200

06/01/45

502,178‌

2,175,000

Marathon

Petroleum

Corp

3

.625

09/15/24

2,106,658‌

500,000

Marathon

Petroleum

Corp

4

.700

05/01/25

490,908‌

200,000

Marathon

Petroleum

Corp

3

.800

04/01/28

178,951‌

800,000

Marathon

Petroleum

Corp

6

.500

03/01/41

792,196‌

450,000

Marathon

Petroleum

Corp

4

.750

09/15/44

360,978‌

250,000

Marathon

Petroleum

Corp

5

.850

12/15/45

215,318‌

600,000

Marathon

Petroleum

Corp

4

.500

04/01/48

454,934‌

200,000

Marathon

Petroleum

Corp

5

.000

09/15/54

160,824‌

1,000,000

MPLX

LP

4

.875

12/01/24

987,812‌

2,500,000

MPLX

LP

4

.875

06/01/25

2,449,877‌

2,800,000

MPLX

LP

1

.750

03/01/26

2,449,949‌

100,000

MPLX

LP

4

.125

03/01/27

93,271‌

150,000

MPLX

LP

4

.250

12/01/27

139,646‌

475,000

MPLX

LP

4

.000

03/15/28

432,701‌

1,200,000

MPLX

LP

4

.800

02/15/29

1,116,647‌

1,125,000

MPLX

LP

2

.650

08/15/30

881,351‌

500,000

MPLX

LP

4

.950

09/01/32

454,240‌

975,000

MPLX

LP

4

.500

04/15/38

784,813‌

375,000

MPLX

LP

5

.200

03/01/47

308,190‌

700,000

MPLX

LP

5

.200

12/01/47

566,778‌

825,000

MPLX

LP

4

.700

04/15/48

628,571‌

850,000

MPLX

LP

5

.500

02/15/49

721,420‌

1,000,000

MPLX

LP

4

.950

03/14/52

782,572‌

1,600,000

MPLX

LP

4

.900

04/15/58

1,194,238‌

500,000

National

Oilwell

Varco,

Inc

3

.600

12/01/29

422,682‌

800,000

National

Oilwell

Varco,

Inc

3

.950

12/01/42

532,534‌

175,000

ONEOK,

Inc

2

.750

09/01/24

166,291‌

100,000

ONEOK,

Inc

5

.850

01/15/26

100,270‌

1,300,000

ONEOK,

Inc

4

.000

07/13/27

1,192,914‌

725,000

ONEOK,

Inc

4

.550

07/15/28

663,748‌

325,000

ONEOK,

Inc

4

.350

03/15/29

290,737‌

500,000

ONEOK,

Inc

3

.400

09/01/29

419,433‌

500,000

ONEOK,

Inc

3

.100

03/15/30

406,298‌

175,000

ONEOK,

Inc

6

.350

01/15/31

171,585‌

675,000

ONEOK,

Inc

4

.950

07/13/47

519,441‌

1,350,000

ONEOK,

Inc

5

.200

07/15/48

1,074,721‌

1,000,000

ONEOK,

Inc

4

.450

09/01/49

716,108‌

500,000

ONEOK,

Inc

4

.500

03/15/50

361,587‌

300,000

ONEOK,

Inc

7

.150

01/15/51

286,554‌

15,000

Petroleos

Mexicanos

1

.700

12/20/22

14,914‌

15,000

Petroleos

Mexicanos

2

.000

12/20/22

14,923‌

675,000

Phillips

66

0

.900

02/15/24

639,151‌

1,000,000

Phillips

66

3

.850

04/09/25

969,039‌

925,000

Phillips

66

1

.300

02/15/26

807,906‌

1,000,000

Phillips

66

3

.900

03/15/28

917,974‌

738,000

Phillips

66

4

.650

11/15/34

659,830‌

125,000

Phillips

66

5

.875

05/01/42

121,120‌

2,375,000

Phillips

66

4

.875

11/15/44

2,042,863‌

825,000

Phillips

66

3

.300

03/15/52

540,064‌

500,000

g

Phillips

66

Co

2

.450

12/15/24

470,850‌

100,000

g

Phillips

66

Co

3

.550

10/01/26

93,226‌

675,000

g

Phillips

66

Co

3

.750

03/01/28

613,945‌

500,000

g

Phillips

66

Co

3

.150

12/15/29

422,343‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

71

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

425,000

g

Phillips

66

Co

4

.680

%

02/15/45

$

350,235‌

350,000

g

Phillips

66

Co

4

.900

10/01/46

299,820‌

2,000,000

Pioneer

Natural

Resources

Co

1

.125

01/15/26

1,748,541‌

1,500,000

Pioneer

Natural

Resources

Co

1

.900

08/15/30

1,146,819‌

750,000

Pioneer

Natural

Resources

Co

2

.150

01/15/31

577,721‌

200,000

Plains

All

American

Pipeline

LP

2

.850

01/31/23

198,552‌

400,000

Plains

All

American

Pipeline

LP

3

.850

10/15/23

394,261‌

575,000

Plains

All

American

Pipeline

LP

3

.600

11/01/24

552,870‌

1,025,000

Plains

All

American

Pipeline

LP

4

.650

10/15/25

986,749‌

2,075,000

Plains

All

American

Pipeline

LP

4

.500

12/15/26

1,966,313‌

1,450,000

Plains

All

American

Pipeline

LP

3

.550

12/15/29

1,207,836‌

1,000,000

Plains

All

American

Pipeline

LP

3

.800

09/15/30

838,512‌

100,000

Plains

All

American

Pipeline

LP

6

.650

01/15/37

92,895‌

250,000

Plains

All

American

Pipeline

LP

5

.150

06/01/42

190,228‌

300,000

Plains

All

American

Pipeline

LP

4

.700

06/15/44

214,944‌

300,000

Plains

All

American

Pipeline

LP

4

.900

02/15/45

220,077‌

690,000

Sabine

Pass

Liquefaction

LLC

5

.750

05/15/24

692,526‌

1,775,000

Sabine

Pass

Liquefaction

LLC

5

.625

03/01/25

1,773,247‌

275,000

Sabine

Pass

Liquefaction

LLC

5

.875

06/30/26

275,214‌

2,675,000

Sabine

Pass

Liquefaction

LLC

5

.000

03/15/27

2,566,345‌

550,000

Sabine

Pass

Liquefaction

LLC

4

.200

03/15/28

501,577‌

1,500,000

Sabine

Pass

Liquefaction

LLC

4

.500

05/15/30

1,366,454‌

750,000

Schlumberger

Finance

Canada

Ltd

1

.400

09/17/25

680,643‌

1,000,000

Schlumberger

Investment

S.A.

3

.650

12/01/23

984,381‌

1,500,000

Schlumberger

Investment

S.A.

2

.650

06/26/30

1,247,654‌

5,075,000

Shell

International

Finance

BV

3

.250

05/11/25

4,874,109‌

2,075,000

Shell

International

Finance

BV

2

.875

05/10/26

1,932,846‌

925,000

Shell

International

Finance

BV

2

.500

09/12/26

844,001‌

1,225,000

Shell

International

Finance

BV

3

.875

11/13/28

1,145,280‌

3,000,000

Shell

International

Finance

BV

2

.375

11/07/29

2,514,257‌

1,000,000

Shell

International

Finance

BV

2

.750

04/06/30

853,768‌

500,000

Shell

International

Finance

BV

4

.125

05/11/35

438,173‌

350,000

Shell

International

Finance

BV

6

.375

12/15/38

370,534‌

100,000

Shell

International

Finance

BV

5

.500

03/25/40

98,921‌

1,500,000

Shell

International

Finance

BV

2

.875

11/26/41

1,050,470‌

1,200,000

Shell

International

Finance

BV

4

.550

08/12/43

1,039,528‌

2,025,000

Shell

International

Finance

BV

4

.375

05/11/45

1,701,801‌

650,000

Shell

International

Finance

BV

4

.000

05/10/46

517,050‌

3,180,000

Shell

International

Finance

BV

3

.750

09/12/46

2,419,578‌

1,500,000

Shell

International

Finance

BV

3

.125

11/07/49

1,026,614‌

1,500,000

Shell

International

Finance

BV

3

.250

04/06/50

1,053,666‌

1,000,000

Shell

International

Finance

BV

3

.000

11/26/51

662,919‌

200,000

Spectra

Energy

Partners

LP

4

.750

03/15/24

198,882‌

400,000

Spectra

Energy

Partners

LP

3

.500

03/15/25

382,650‌

1,100,000

Spectra

Energy

Partners

LP

3

.375

10/15/26

1,014,764‌

200,000

Spectra

Energy

Partners

LP

5

.950

09/25/43

190,660‌

600,000

Spectra

Energy

Partners

LP

4

.500

03/15/45

477,123‌

250,000

Suncor

Energy,

Inc

6

.800

05/15/38

252,614‌

1,625,000

Suncor

Energy,

Inc

6

.500

06/15/38

1,602,071‌

1,550,000

Suncor

Energy,

Inc

4

.000

11/15/47

1,158,727‌

1,000,000

Suncor

Energy,

Inc

3

.750

03/04/51

702,135‌

300,000

Sunoco

Logistics

Partners

Operations

LP

4

.250

04/01/24

293,624‌

200,000

Sunoco

Logistics

Partners

Operations

LP

5

.950

12/01/25

200,655‌

400,000

Sunoco

Logistics

Partners

Operations

LP

3

.900

07/15/26

372,786‌

100,000

Sunoco

Logistics

Partners

Operations

LP

6

.100

02/15/42

87,379‌

300,000

Sunoco

Logistics

Partners

Operations

LP

5

.300

04/01/44

240,300‌

200,000

Sunoco

Logistics

Partners

Operations

LP

5

.350

05/15/45

160,862‌

1,225,000

Sunoco

Logistics

Partners

Operations

LP

5

.400

10/01/47

991,852‌

2,000,000

Targa

Resources

Corp

5

.200

07/01/27

1,923,953‌

350,000

Targa

Resources

Corp

4

.200

02/01/33

291,479‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

72

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

575,000

Targa

Resources

Corp

4

.950

%

04/15/52

$

442,406‌

1,250,000

Targa

Resources

Corp

6

.250

07/01/52

1,135,551‌

1,000,000

Targa

Resources

Partners

LP

6

.875

01/15/29

982,181‌

1,000,000

Targa

Resources

Partners

LP

5

.500

03/01/30

897,510‌

750,000

Total

Capital

International

S.A.

3

.700

01/15/24

740,281‌

450,000

Total

Capital

International

S.A.

3

.750

04/10/24

442,848‌

500,000

Total

Capital

International

S.A.

2

.434

01/10/25

474,635‌

900,000

Total

Capital

International

S.A.

3

.455

02/19/29

820,413‌

1,300,000

Total

Capital

International

S.A.

2

.829

01/10/30

1,119,070‌

775,000

Total

Capital

International

S.A.

2

.986

06/29/41

552,438‌

500,000

Total

Capital

International

S.A.

3

.461

07/12/49

364,807‌

1,500,000

Total

Capital

International

S.A.

3

.127

05/29/50

1,035,810‌

1,000,000

Total

Capital

International

S.A.

3

.386

06/29/60

666,101‌

1,125,000

Total

Capital

S.A.

3

.883

10/11/28

1,054,811‌

1,225,000

TransCanada

PipeLines

Ltd

4

.875

01/15/26

1,202,681‌

4,000,000

TransCanada

PipeLines

Ltd

4

.100

04/15/30

3,578,403‌

1,000,000

TransCanada

PipeLines

Ltd

2

.500

10/12/31

769,380‌

1,925,000

TransCanada

PipeLines

Ltd

4

.625

03/01/34

1,686,532‌

100,000

TransCanada

PipeLines

Ltd

6

.200

10/15/37

98,308‌

500,000

TransCanada

PipeLines

Ltd

4

.750

05/15/38

434,922‌

200,000

TransCanada

PipeLines

Ltd

7

.625

01/15/39

224,320‌

125,000

TransCanada

PipeLines

Ltd

6

.100

06/01/40

120,982‌

1,200,000

TransCanada

PipeLines

Ltd

5

.000

10/16/43

1,035,743‌

750,000

TransCanada

PipeLines

Ltd

4

.875

05/15/48

645,829‌

1,425,000

TransCanada

PipeLines

Ltd

5

.100

03/15/49

1,261,195‌

700,000

Transcontinental

Gas

Pipe

Line

Co

LLC

7

.850

02/01/26

743,480‌

1,200,000

Transcontinental

Gas

Pipe

Line

Co

LLC

4

.000

03/15/28

1,100,612‌

500,000

Transcontinental

Gas

Pipe

Line

Co

LLC

3

.250

05/15/30

422,709‌

850,000

Transcontinental

Gas

Pipe

Line

Co

LLC

4

.600

03/15/48

700,306‌

500,000

Transcontinental

Gas

Pipe

Line

Co

LLC

3

.950

05/15/50

369,239‌

1,000,000

Vale

Overseas

Ltd

3

.750

07/08/30

810,000‌

1,164,000

Vale

Overseas

Ltd

6

.875

11/21/36

1,104,765‌

750,000

Valero

Energy

Corp

2

.150

09/15/27

648,377‌

342,000

Valero

Energy

Corp

4

.350

06/01/28

326,874‌

1,500,000

Valero

Energy

Corp

2

.800

12/01/31

1,193,058‌

455,000

Valero

Energy

Corp

7

.500

04/15/32

493,535‌

850,000

Valero

Energy

Corp

6

.625

06/15/37

845,995‌

300,000

Valero

Energy

Corp

4

.900

03/15/45

249,917‌

1,500,000

Valero

Energy

Corp

3

.650

12/01/51

1,022,615‌

1,000,000

Valero

Energy

Corp

4

.000

06/01/52

721,524‌

300,000

Valero

Energy

Partners

LP

4

.500

03/15/28

284,622‌

3,500,000

Williams

Cos,

Inc

2

.600

03/15/31

2,744,353‌

1,000,000

Williams

Cos,

Inc

4

.650

08/15/32

907,651‌

1,500,000

Williams

Cos,

Inc

3

.500

10/15/51

998,123‌

500,000

Williams

Cos,

Inc

5

.300

08/15/52

435,192‌

300,000

Williams

Partners

LP

4

.500

11/15/23

298,354‌

150,000

Williams

Partners

LP

3

.900

01/15/25

145,166‌

925,000

Williams

Partners

LP

4

.000

09/15/25

889,729‌

1,300,000

Williams

Partners

LP

3

.750

06/15/27

1,199,142‌

300,000

Williams

Partners

LP

6

.300

04/15/40

292,011‌

300,000

Williams

Partners

LP

5

.800

11/15/43

274,982‌

300,000

Williams

Partners

LP

5

.400

03/04/44

261,690‌

1,000,000

Williams

Partners

LP

4

.900

01/15/45

816,177‌

225,000

Williams

Partners

LP

5

.100

09/15/45

190,515‌

1,700,000

Williams

Partners

LP

4

.850

03/01/48

1,407,841‌

TOTAL

ENERGY

302,452,457‌

FOOD

&

STAPLES

RETAILING

-

0

.2

%

400,000

Costco

Wholesale

Corp

2

.750

05/18/24

390,157‌

625,000

Costco

Wholesale

Corp

3

.000

05/18/27

584,465‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

73

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOOD

&

STAPLES

RETAILING—continued

$

475,000

Costco

Wholesale

Corp

1

.375

%

06/20/27

$

409,952‌

725,000

Costco

Wholesale

Corp

1

.600

04/20/30

581,325‌

1,800,000

e

Costco

Wholesale

Corp

1

.750

04/20/32

1,387,593‌

69,000

Delhaize

Group

S.A.

5

.700

10/01/40

67,988‌

200,000

Kroger

Co

3

.850

08/01/23

198,714‌

300,000

Kroger

Co

4

.000

02/01/24

296,271‌

100,000

Kroger

Co

3

.500

02/01/26

94,868‌

1,275,000

Kroger

Co

2

.650

10/15/26

1,161,208‌

175,000

Kroger

Co

3

.700

08/01/27

164,815‌

1,150,000

Kroger

Co

4

.500

01/15/29

1,094,074‌

250,000

Kroger

Co

2

.200

05/01/30

198,938‌

1,500,000

Kroger

Co

1

.700

01/15/31

1,125,930‌

100,000

Kroger

Co

6

.900

04/15/38

107,375‌

250,000

Kroger

Co

5

.000

04/15/42

220,624‌

300,000

Kroger

Co

5

.150

08/01/43

269,089‌

300,000

Kroger

Co

3

.875

10/15/46

228,130‌

900,000

Kroger

Co

4

.450

02/01/47

737,888‌

700,000

Kroger

Co

4

.650

01/15/48

594,081‌

300,000

Kroger

Co

5

.400

01/15/49

279,013‌

500,000

Kroger

Co

3

.950

01/15/50

381,499‌

125,000

SYSCO

Corp

3

.750

10/01/25

120,305‌

350,000

SYSCO

Corp

3

.300

07/15/26

327,277‌

1,000,000

SYSCO

Corp

2

.400

02/15/30

813,832‌

332,000

SYSCO

Corp

5

.950

04/01/30

336,051‌

400,000

SYSCO

Corp

2

.450

12/14/31

313,174‌

300,000

SYSCO

Corp

4

.850

10/01/45

254,963‌

500,000

SYSCO

Corp

4

.500

04/01/46

412,046‌

250,000

SYSCO

Corp

4

.450

03/15/48

203,017‌

550,000

SYSCO

Corp

3

.300

02/15/50

360,992‌

905,000

SYSCO

Corp

6

.600

04/01/50

949,950‌

675,000

SYSCO

Corp

3

.150

12/14/51

426,672‌

622,000

Walgreens

Boots

Alliance,

Inc

3

.450

06/01/26

585,263‌

750,000

Walgreens

Boots

Alliance,

Inc

3

.200

04/15/30

629,170‌

1,400,000

Walgreens

Boots

Alliance,

Inc

4

.500

11/18/34

1,203,861‌

525,000

Walgreens

Boots

Alliance,

Inc

4

.650

06/01/46

410,544‌

750,000

Walgreens

Boots

Alliance,

Inc

4

.100

04/15/50

537,061‌

500,000

Walmart,

Inc

1

.050

09/17/26

436,275‌

6,000,000

Walmart,

Inc

3

.950

09/09/27

5,824,951‌

1,000,000

Walmart,

Inc

1

.500

09/22/28

836,178‌

21,000

Walmart,

Inc

2

.375

09/24/29

18,018‌

1,750,000

Walmart,

Inc

1

.800

09/22/31

1,390,321‌

5,000,000

Walmart,

Inc

4

.150

09/09/32

4,789,472‌

825,000

Walmart,

Inc

2

.500

09/22/41

574,951‌

1,500,000

Walmart,

Inc

2

.650

09/22/51

1,006,383‌

4,000,000

Walmart,

Inc

4

.500

09/09/52

3,750,337‌

TOTAL

FOOD

&

STAPLES

RETAILING

37,085,061‌

FOOD,

BEVERAGE

&

TOBACCO

-

0

.9

%

1,300,000

Altria

Group,

Inc

2

.350

05/06/25

1,204,044‌

727,000

Altria

Group,

Inc

4

.400

02/14/26

699,595‌

700,000

e

Altria

Group,

Inc

2

.625

09/16/26

628,276‌

800,000

Altria

Group,

Inc

3

.400

05/06/30

647,788‌

1,175,000

Altria

Group,

Inc

2

.450

02/04/32

829,218‌

800,000

Altria

Group,

Inc

5

.800

02/14/39

698,543‌

1,500,000

Altria

Group,

Inc

3

.400

02/04/41

945,833‌

925,000

Altria

Group,

Inc

4

.250

08/09/42

632,720‌

300,000

Altria

Group,

Inc

4

.500

05/02/43

211,448‌

775,000

Altria

Group,

Inc

5

.375

01/31/44

627,414‌

900,000

Altria

Group,

Inc

3

.875

09/16/46

569,060‌

1,875,000

Altria

Group,

Inc

5

.950

02/14/49

1,552,459‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

74

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

$

1,000,000

Altria

Group,

Inc

4

.450

%

05/06/50

$

668,073‌

1,000,000

Altria

Group,

Inc

3

.700

02/04/51

603,682‌

1,000,000

Altria

Group,

Inc

4

.000

02/04/61

610,483‌

1,125,000

Anheuser-Busch

InBev

Finance,

Inc

4

.625

02/01/44

932,990‌

625,000

e

Anheuser-Busch

InBev

Worldwide,

Inc

4

.900

01/23/31

614,535‌

1,700,000

Anheuser-Busch

InBev

Worldwide,

Inc

4

.375

04/15/38

1,451,546‌

100,000

Anheuser-Busch

InBev

Worldwide,

Inc

8

.200

01/15/39

120,731‌

2,675,000

Anheuser-Busch

InBev

Worldwide,

Inc

5

.450

01/23/39

2,549,020‌

500,000

Anheuser-Busch

InBev

Worldwide,

Inc

4

.350

06/01/40

423,475‌

150,000

Anheuser-Busch

InBev

Worldwide,

Inc

4

.950

01/15/42

133,850‌

425,000

Anheuser-Busch

InBev

Worldwide,

Inc

4

.600

04/15/48

351,958‌

1,764,000

Anheuser-Busch

InBev

Worldwide,

Inc

4

.439

10/06/48

1,430,999‌

2,025,000

Anheuser-Busch

InBev

Worldwide,

Inc

5

.550

01/23/49

1,904,494‌

5,441,000

Anheuser-Busch

InBev

Worldwide,

Inc

4

.500

06/01/50

4,483,545‌

1,725,000

Anheuser-Busch

InBev

Worldwide,

Inc

4

.750

04/15/58

1,415,667‌

2,150,000

Anheuser-Busch

InBev

Worldwide,

Inc

5

.800

01/23/59

2,052,647‌

500,000

Anheuser-Busch

InBev

Worldwide,

Inc

4

.600

06/01/60

394,161‌

3,075,000

e

Archer-Daniels-Midland

Co

2

.500

08/11/26

2,832,355‌

1,500,000

Archer-Daniels-Midland

Co

3

.250

03/27/30

1,338,182‌

500,000

Archer-Daniels-Midland

Co

2

.900

03/01/32

422,398‌

800,000

Archer-Daniels-Midland

Co

4

.500

03/15/49

728,415‌

1,000,000

Archer-Daniels-Midland

Co

2

.700

09/15/51

658,724‌

3,950,000

BAT

Capital

Corp

3

.222

08/15/24

3,800,916‌

500,000

BAT

Capital

Corp

2

.789

09/06/24

475,346‌

3,525,000

BAT

Capital

Corp

3

.557

08/15/27

3,095,557‌

400,000

BAT

Capital

Corp

2

.259

03/25/28

318,159‌

275,000

BAT

Capital

Corp

4

.906

04/02/30

242,809‌

650,000

BAT

Capital

Corp

2

.726

03/25/31

483,738‌

500,000

BAT

Capital

Corp

4

.742

03/16/32

418,270‌

1,400,000

BAT

Capital

Corp

4

.390

08/15/37

998,749‌

475,000

BAT

Capital

Corp

3

.734

09/25/40

304,327‌

2,625,000

BAT

Capital

Corp

4

.540

08/15/47

1,739,197‌

900,000

BAT

Capital

Corp

4

.758

09/06/49

613,398‌

500,000

BAT

Capital

Corp

5

.282

04/02/50

368,532‌

1,000,000

BAT

Capital

Corp

3

.984

09/25/50

611,755‌

1,000,000

BAT

Capital

Corp

5

.650

03/16/52

762,386‌

5,000,000

BAT

International

Finance

plc

1

.668

03/25/26

4,322,073‌

500,000

BAT

International

Finance

plc

4

.448

03/16/28

445,629‌

200,000

Brown-Forman

Corp

3

.500

04/15/25

193,800‌

200,000

Brown-Forman

Corp

4

.000

04/15/38

168,394‌

200,000

Brown-Forman

Corp

4

.500

07/15/45

172,744‌

500,000

Bunge

Ltd

1

.630

08/17/25

449,774‌

125,000

Bunge

Ltd

3

.250

08/15/26

114,906‌

500,000

Bunge

Ltd

3

.750

09/25/27

457,985‌

1,500,000

Bunge

Ltd

2

.750

05/14/31

1,179,940‌

500,000

Campbell

Soup

Co

3

.950

03/15/25

486,304‌

725,000

Campbell

Soup

Co

4

.150

03/15/28

680,358‌

500,000

e

Campbell

Soup

Co

2

.375

04/24/30

396,828‌

800,000

Campbell

Soup

Co

4

.800

03/15/48

672,744‌

500,000

Campbell

Soup

Co

3

.125

04/24/50

318,990‌

300,000

Coca-Cola

Bottling

Co

Consolidated

3

.800

11/25/25

289,845‌

1,000,000

Coca-Cola

Co

1

.450

06/01/27

863,973‌

1,000,000

Coca-Cola

Co

1

.500

03/05/28

854,211‌

2,000,000

Coca-Cola

Co

1

.000

03/15/28

1,646,723‌

600,000

Coca-Cola

Co

2

.125

09/06/29

505,680‌

300,000

Coca-Cola

Co

3

.450

03/25/30

272,701‌

800,000

Coca-Cola

Co

1

.650

06/01/30

636,177‌

1,500,000

Coca-Cola

Co

2

.000

03/05/31

1,209,039‌

2,000,000

Coca-Cola

Co

1

.375

03/15/31

1,525,612‌

2,000,000

e

Coca-Cola

Co

2

.250

01/05/32

1,625,148‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

75

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

$

725,000

Coca-Cola

Co

2

.500

%

06/01/40

$

506,020‌

1,000,000

Coca-Cola

Co

2

.875

05/05/41

739,274‌

1,500,000

Coca-Cola

Co

2

.600

06/01/50

965,085‌

1,500,000

Coca-Cola

Co

3

.000

03/05/51

1,047,053‌

1,000,000

e

Coca-Cola

Co

2

.750

06/01/60

616,627‌

678,000

Coca-Cola

Femsa

SAB

de

C.V.

2

.750

01/22/30

584,626‌

475,000

ConAgra

Brands,

Inc

0

.500

08/11/23

457,567‌

1,000,000

ConAgra

Brands,

Inc

4

.300

05/01/24

984,180‌

450,000

ConAgra

Brands,

Inc

4

.600

11/01/25

439,451‌

500,000

ConAgra

Brands,

Inc

1

.375

11/01/27

403,269‌

100,000

ConAgra

Brands,

Inc

7

.000

10/01/28

103,378‌

1,575,000

ConAgra

Brands,

Inc

4

.850

11/01/28

1,486,009‌

750,000

ConAgra

Brands,

Inc

5

.300

11/01/38

658,444‌

750,000

ConAgra

Brands,

Inc

5

.400

11/01/48

646,080‌

100,000

Constellation

Brands,

Inc

4

.400

11/15/25

97,904‌

750,000

Constellation

Brands,

Inc

3

.700

12/06/26

704,767‌

300,000

Constellation

Brands,

Inc

3

.500

05/09/27

277,232‌

1,000,000

Constellation

Brands,

Inc

4

.350

05/09/27

959,204‌

700,000

Constellation

Brands,

Inc

3

.600

02/15/28

640,074‌

300,000

Constellation

Brands,

Inc

4

.650

11/15/28

283,281‌

1,000,000

Constellation

Brands,

Inc

3

.150

08/01/29

859,047‌

100,000

Constellation

Brands,

Inc

2

.875

05/01/30

82,945‌

425,000

Constellation

Brands,

Inc

2

.250

08/01/31

326,476‌

1,000,000

Constellation

Brands,

Inc

4

.750

05/09/32

935,376‌

300,000

Constellation

Brands,

Inc

4

.100

02/15/48

229,640‌

300,000

Constellation

Brands,

Inc

5

.250

11/15/48

268,817‌

1,250,000

Constellation

Brands,

Inc

3

.750

05/01/50

908,107‌

750,000

Diageo

Capital

plc

2

.125

10/24/24

712,100‌

500,000

Diageo

Capital

plc

1

.375

09/29/25

453,345‌

425,000

Diageo

Capital

plc

3

.875

05/18/28

400,156‌

1,033,000

Diageo

Capital

plc

2

.000

04/29/30

827,749‌

1,900,000

Diageo

Capital

plc

2

.125

04/29/32

1,470,414‌

200,000

Diageo

Capital

plc

5

.875

09/30/36

205,243‌

400,000

Diageo

Capital

plc

3

.875

04/29/43

322,084‌

100,000

Flowers

Foods,

Inc

3

.500

10/01/26

93,191‌

400,000

Flowers

Foods,

Inc

2

.400

03/15/31

313,301‌

200,000

Fomento

Economico

Mexicano

SAB

de

C.V.

2

.875

05/10/23

197,400‌

300,000

Fomento

Economico

Mexicano

SAB

de

C.V.

4

.375

05/10/43

241,807‌

2,500,000

Fomento

Economico

Mexicano

SAB

de

C.V.

3

.500

01/16/50

1,715,279‌

500,000

General

Mills,

Inc

3

.650

02/15/24

493,682‌

150,000

General

Mills,

Inc

4

.000

04/17/25

146,417‌

800,000

General

Mills,

Inc

3

.200

02/10/27

744,016‌

2,300,000

General

Mills,

Inc

4

.200

04/17/28

2,188,362‌

100,000

General

Mills,

Inc

2

.875

04/15/30

84,971‌

1,000,000

General

Mills,

Inc

2

.250

10/14/31

782,351‌

951,000

General

Mills,

Inc

3

.000

02/01/51

616,962‌

300,000

Hershey

Co

2

.050

11/15/24

285,235‌

500,000

Hershey

Co

0

.900

06/01/25

453,817‌

300,000

Hershey

Co

2

.450

11/15/29

255,034‌

500,000

Hershey

Co

1

.700

06/01/30

395,430‌

300,000

Hershey

Co

3

.375

08/15/46

226,928‌

300,000

Hershey

Co

3

.125

11/15/49

214,101‌

100,000

Hershey

Co

2

.650

06/01/50

65,306‌

1,500,000

Hormel

Foods

Corp

1

.700

06/03/28

1,277,106‌

1,500,000

Hormel

Foods

Corp

1

.800

06/11/30

1,198,720‌

300,000

Ingredion,

Inc

3

.200

10/01/26

276,655‌

750,000

Ingredion,

Inc

3

.900

06/01/50

543,189‌

425,000

e

J

M

Smucker

Co

2

.125

03/15/32

317,305‌

550,000

J

M

Smucker

Co

2

.750

09/15/41

351,789‌

3,000,000

g

JBS

USA

LUX

S.A.

5

.125

02/01/28

2,811,810‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

76

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

$

3,000,000

g

JBS

USA

LUX

S.A.

5

.750

%

04/01/33

$

2,709,420‌

2,000,000

g

JBS

USA

LUX

S.A.

6

.500

12/01/52

1,776,886‌

1,475,000

JM

Smucker

Co

3

.500

03/15/25

1,420,409‌

200,000

JM

Smucker

Co

3

.375

12/15/27

181,525‌

150,000

JM

Smucker

Co

2

.375

03/15/30

120,885‌

300,000

JM

Smucker

Co

4

.250

03/15/35

254,442‌

300,000

JM

Smucker

Co

4

.375

03/15/45

236,931‌

400,000

e

JM

Smucker

Co

3

.550

03/15/50

269,008‌

1,800,000

Kellogg

Co

3

.250

04/01/26

1,691,382‌

200,000

Kellogg

Co

3

.400

11/15/27

183,594‌

800,000

Kellogg

Co

4

.300

05/15/28

758,136‌

275,000

Kellogg

Co

2

.100

06/01/30

218,123‌

150,000

Kellogg

Co

4

.500

04/01/46

129,683‌

66,000

Keurig

Dr

Pepper,

Inc

4

.417

05/25/25

64,912‌

200,000

Keurig

Dr

Pepper,

Inc

3

.400

11/15/25

190,849‌

200,000

Keurig

Dr

Pepper,

Inc

2

.550

09/15/26

180,404‌

1,000,000

Keurig

Dr

Pepper,

Inc

3

.950

04/15/29

908,212‌

750,000

Keurig

Dr

Pepper,

Inc

3

.200

05/01/30

638,105‌

1,500,000

e

Keurig

Dr

Pepper,

Inc

2

.250

03/15/31

1,167,008‌

1,000,000

Keurig

Dr

Pepper,

Inc

4

.050

04/15/32

877,022‌

500,000

Keurig

Dr

Pepper,

Inc

4

.420

12/15/46

397,556‌

1,500,000

Keurig

Dr

Pepper,

Inc

3

.350

03/15/51

975,967‌

500,000

Keurig

Dr

Pepper,

Inc

4

.500

04/15/52

394,205‌

6,000,000

Kraft

Heinz

Foods

Co

3

.875

05/15/27

5,607,477‌

3,000,000

Kraft

Heinz

Foods

Co

4

.875

10/01/49

2,472,555‌

250,000

McCormick

&

Co,

Inc

3

.150

08/15/24

241,428‌

625,000

McCormick

&

Co,

Inc

0

.900

02/15/26

541,969‌

250,000

McCormick

&

Co,

Inc

3

.400

08/15/27

229,752‌

500,000

McCormick

&

Co,

Inc

2

.500

04/15/30

406,426‌

325,000

McCormick

&

Co,

Inc

1

.850

02/15/31

242,165‌

400,000

McCormick

&

Co,

Inc

4

.200

08/15/47

317,091‌

925,000

Mead

Johnson

Nutrition

Co

4

.125

11/15/25

904,581‌

350,000

Mead

Johnson

Nutrition

Co

4

.600

06/01/44

311,976‌

1,025,000

Molson

Coors

Brewing

Co

3

.000

07/15/26

936,168‌

525,000

Molson

Coors

Brewing

Co

5

.000

05/01/42

442,628‌

1,550,000

Molson

Coors

Brewing

Co

4

.200

07/15/46

1,149,108‌

1,000,000

Mondelez

International,

Inc

1

.500

05/04/25

913,995‌

1,500,000

Mondelez

International,

Inc

2

.625

03/17/27

1,344,173‌

356,000

Mondelez

International,

Inc

2

.750

04/13/30

296,518‌

400,000

Mondelez

International,

Inc

1

.500

02/04/31

293,600‌

725,000

Mondelez

International,

Inc

1

.875

10/15/32

527,009‌

1,200,000

Mondelez

International,

Inc

2

.625

09/04/50

710,878‌

1,000,000

PepsiCo,

Inc

0

.400

10/07/23

962,240‌

1,425,000

PepsiCo,

Inc

3

.600

03/01/24

1,409,452‌

525,000

PepsiCo,

Inc

2

.750

04/30/25

501,564‌

425,000

PepsiCo,

Inc

3

.500

07/17/25

413,786‌

275,000

PepsiCo,

Inc

2

.850

02/24/26

258,919‌

1,300,000

PepsiCo,

Inc

2

.375

10/06/26

1,193,929‌

150,000

PepsiCo,

Inc

2

.625

03/19/27

137,641‌

1,000,000

PepsiCo,

Inc

3

.600

02/18/28

944,752‌

500,000

PepsiCo,

Inc

2

.750

03/19/30

433,431‌

2,275,000

PepsiCo,

Inc

1

.625

05/01/30

1,823,473‌

2,000,000

PepsiCo,

Inc

1

.400

02/25/31

1,538,148‌

2,000,000

e

PepsiCo,

Inc

1

.950

10/21/31

1,590,786‌

1,100,000

PepsiCo,

Inc

3

.900

07/18/32

1,016,826‌

575,000

PepsiCo,

Inc

2

.625

10/21/41

404,798‌

750,000

PepsiCo,

Inc

2

.875

10/15/49

525,429‌

1,000,000

PepsiCo,

Inc

2

.750

10/21/51

679,218‌

1,000,000

PepsiCo,

Inc

4

.200

07/18/52

884,602‌

300,000

Philip

Morris

International,

Inc

3

.600

11/15/23

296,631‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

77

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

$

600,000

Philip

Morris

International,

Inc

3

.250

%

11/10/24

$

579,999‌

500,000

Philip

Morris

International,

Inc

1

.500

05/01/25

458,143‌

500,000

Philip

Morris

International,

Inc

3

.375

08/11/25

478,248‌

700,000

Philip

Morris

International,

Inc

2

.750

02/25/26

644,918‌

1,000,000

Philip

Morris

International,

Inc

0

.875

05/01/26

858,984‌

1,300,000

Philip

Morris

International,

Inc

3

.125

08/17/27

1,185,182‌

1,500,000

e

Philip

Morris

International,

Inc

3

.125

03/02/28

1,320,106‌

1,450,000

e

Philip

Morris

International,

Inc

3

.375

08/15/29

1,236,626‌

450,000

Philip

Morris

International,

Inc

2

.100

05/01/30

341,828‌

1,000,000

e

Philip

Morris

International,

Inc

1

.750

11/01/30

730,652‌

400,000

Philip

Morris

International,

Inc

6

.375

05/16/38

378,599‌

225,000

Philip

Morris

International,

Inc

4

.375

11/15/41

163,721‌

200,000

Philip

Morris

International,

Inc

4

.500

03/20/42

146,499‌

275,000

Philip

Morris

International,

Inc

3

.875

08/21/42

186,155‌

300,000

Philip

Morris

International,

Inc

4

.125

03/04/43

208,649‌

200,000

Philip

Morris

International,

Inc

4

.875

11/15/43

152,769‌

2,000,000

Philip

Morris

International,

Inc

4

.250

11/10/44

1,400,482‌

550,000

Reynolds

American,

Inc

4

.450

06/12/25

531,364‌

750,000

Reynolds

American,

Inc

5

.700

08/15/35

634,275‌

65,000

Reynolds

American,

Inc

7

.250

06/15/37

60,765‌

200,000

Reynolds

American,

Inc

6

.150

09/15/43

166,981‌

1,775,000

Reynolds

American,

Inc

5

.850

08/15/45

1,392,294‌

100,000

Tyson

Foods,

Inc

3

.900

09/28/23

98,967‌

750,000

Tyson

Foods,

Inc

3

.950

08/15/24

734,254‌

500,000

Tyson

Foods,

Inc

4

.000

03/01/26

479,562‌

1,150,000

Tyson

Foods,

Inc

3

.550

06/02/27

1,065,411‌

500,000

Tyson

Foods,

Inc

4

.350

03/01/29

471,761‌

500,000

Tyson

Foods,

Inc

5

.150

08/15/44

445,726‌

300,000

Tyson

Foods,

Inc

4

.550

06/02/47

248,341‌

1,700,000

Tyson

Foods,

Inc

5

.100

09/28/48

1,511,340‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

172,944,620‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

1

.2

%

200,000

Abbott

Laboratories

3

.400

11/30/23

197,534‌

275,000

Abbott

Laboratories

2

.950

03/15/25

264,568‌

1,708,000

Abbott

Laboratories

3

.750

11/30/26

1,656,508‌

625,000

Abbott

Laboratories

1

.150

01/30/28

521,056‌

200,000

Abbott

Laboratories

1

.400

06/30/30

156,243‌

2,750,000

Abbott

Laboratories

4

.750

11/30/36

2,682,268‌

3,450,000

Abbott

Laboratories

4

.900

11/30/46

3,303,660‌

500,000

Adventist

Health

System

2

.952

03/01/29

436,188‌

500,000

Adventist

Health

System

3

.630

03/01/49

368,538‌

200,000

Advocate

Health

&

Hospitals

Corp

3

.829

08/15/28

187,668‌

750,000

Advocate

Health

&

Hospitals

Corp

2

.211

06/15/30

607,892‌

100,000

Advocate

Health

&

Hospitals

Corp

4

.272

08/15/48

85,540‌

600,000

Advocate

Health

&

Hospitals

Corp

3

.387

10/15/49

442,304‌

500,000

Advocate

Health

&

Hospitals

Corp

3

.008

06/15/50

335,298‌

1,500,000

AHS

Hospital

Corp

2

.780

07/01/51

932,309‌

200,000

Allina

Health

System

3

.887

04/15/49

157,827‌

520,000

Allina

Health

System

2

.902

11/15/51

340,349‌

400,000

AmerisourceBergen

Corp

3

.400

05/15/24

391,445‌

700,000

AmerisourceBergen

Corp

3

.250

03/01/25

673,159‌

200,000

AmerisourceBergen

Corp

3

.450

12/15/27

184,558‌

1,000,000

AmerisourceBergen

Corp

2

.800

05/15/30

826,022‌

1,000,000

AmerisourceBergen

Corp

2

.700

03/15/31

803,794‌

700,000

AmerisourceBergen

Corp

4

.300

12/15/47

556,358‌

1,625,000

Anthem,

Inc

3

.350

12/01/24

1,562,937‌

1,500,000

Anthem,

Inc

2

.375

01/15/25

1,415,610‌

1,000,000

Anthem,

Inc

1

.500

03/15/26

887,209‌

850,000

Anthem,

Inc

3

.650

12/01/27

791,599‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

78

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

$

1,225,000

Anthem,

Inc

4

.101

%

03/01/28

$

1,158,606‌

500,000

Anthem,

Inc

2

.875

09/15/29

426,905‌

1,500,000

Anthem,

Inc

2

.250

05/15/30

1,210,020‌

1,000,000

Anthem,

Inc

2

.550

03/15/31

806,257‌

1,150,000

Anthem,

Inc

4

.625

05/15/42

992,524‌

125,000

Anthem,

Inc

4

.650

01/15/43

107,825‌

500,000

Anthem,

Inc

5

.100

01/15/44

453,612‌

425,000

Anthem,

Inc

4

.650

08/15/44

365,315‌

625,000

Anthem,

Inc

4

.375

12/01/47

516,784‌

1,800,000

Anthem,

Inc

4

.550

03/01/48

1,518,226‌

500,000

Anthem,

Inc

3

.700

09/15/49

365,746‌

1,150,000

Anthem,

Inc

3

.125

05/15/50

760,663‌

425,000

Anthem,

Inc

3

.600

03/15/51

302,939‌

1,000,000

Ascension

Health

2

.532

11/15/29

845,524‌

1,000,000

Ascension

Health

3

.106

11/15/39

756,341‌

875,000

Ascension

Health

3

.945

11/15/46

729,415‌

200,000

Ascension

Health

4

.847

11/15/53

193,790‌

500,000

Banner

Health

2

.338

01/01/30

415,074‌

750,000

Banner

Health

1

.897

01/01/31

575,082‌

750,000

Banner

Health

2

.913

01/01/51

488,694‌

1,000,000

Baptist

Health

South

Florida

Obligated

Group

3

.115

11/15/71

600,725‌

1,000,000

Baptist

Healthcare

System

Obligated

Group

3

.540

08/15/50

729,916‌

475,000

Baxter

International,

Inc

2

.600

08/15/26

429,683‌

2,000,000

Baxter

International,

Inc

1

.915

02/01/27

1,740,325‌

1,350,000

Baxter

International,

Inc

2

.272

12/01/28

1,114,784‌

2,000,000

Baxter

International,

Inc

1

.730

04/01/31

1,481,561‌

1,150,000

Baxter

International,

Inc

2

.539

02/01/32

895,173‌

300,000

Baxter

International,

Inc

3

.500

08/15/46

210,602‌

1,000,000

Baxter

International,

Inc

3

.132

12/01/51

638,946‌

1,500,000

Baylor

Scott

&

White

Holdings

1

.777

11/15/30

1,150,853‌

290,000

Baylor

Scott

&

White

Holdings

4

.185

11/15/45

243,935‌

200,000

Baylor

Scott

&

White

Holdings

3

.967

11/15/46

160,645‌

1,000,000

Baylor

Scott

&

White

Holdings

2

.839

11/15/50

646,473‌

635,000

Becton

Dickinson

&

Co

3

.363

06/06/24

617,079‌

165,000

Becton

Dickinson

&

Co

3

.734

12/15/24

159,342‌

1,277,000

Becton

Dickinson

&

Co

3

.700

06/06/27

1,188,369‌

675,000

Becton

Dickinson

&

Co

2

.823

05/20/30

564,932‌

343,000

Becton

Dickinson

&

Co

4

.685

12/15/44

292,939‌

1,000,000

Becton

Dickinson

&

Co

4

.669

06/06/47

858,541‌

447,000

Becton

Dickinson

&

Co

3

.794

05/20/50

334,329‌

1,500,000

Becton

Dickinson

and

Co

1

.957

02/11/31

1,158,037‌

1,000,000

Becton

Dickinson

and

Co

4

.298

08/22/32

912,344‌

235,000

Beth

Israel

Lahey

Health,

Inc

3

.080

07/01/51

149,521‌

200,000

Bio-Rad

Laboratories,

Inc

3

.300

03/15/27

181,527‌

525,000

Bio-Rad

Laboratories,

Inc

3

.700

03/15/32

442,510‌

500,000

Bon

Secours

Mercy

Health,

Inc

3

.464

06/01/30

439,110‌

500,000

Bon

Secours

Mercy

Health,

Inc

2

.095

06/01/31

388,999‌

500,000

Bon

Secours

Mercy

Health,

Inc

3

.205

06/01/50

344,064‌

219,000

Boston

Scientific

Corp

3

.450

03/01/24

214,194‌

1,500,000

Boston

Scientific

Corp

2

.650

06/01/30

1,244,606‌

343,000

Boston

Scientific

Corp

4

.550

03/01/39

296,950‌

256,000

Boston

Scientific

Corp

4

.700

03/01/49

224,100‌

200,000

Cardinal

Health,

Inc

3

.200

03/15/23

198,840‌

650,000

Cardinal

Health,

Inc

3

.079

06/15/24

627,845‌

100,000

Cardinal

Health,

Inc

3

.500

11/15/24

96,648‌

200,000

Cardinal

Health,

Inc

3

.750

09/15/25

193,138‌

1,475,000

Cardinal

Health,

Inc

3

.410

06/15/27

1,362,894‌

100,000

Cardinal

Health,

Inc

4

.600

03/15/43

79,252‌

200,000

Cardinal

Health,

Inc

4

.500

11/15/44

154,637‌

200,000

Cardinal

Health,

Inc

4

.900

09/15/45

163,830‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

79

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

$

500,000

Cardinal

Health,

Inc

4

.368

%

06/15/47

$

382,163‌

1,000,000

Children's

Health

System

of

Texas

2

.511

08/15/50

597,891‌

100,000

Children's

Hospital

Corp

4

.115

01/01/47

83,455‌

1,000,000

Children's

Hospital

Corp

2

.585

02/01/50

610,674‌

1,000,000

Children's

Hospital

of

Philadelphia

2

.704

07/01/50

622,082‌

200,000

CHRISTUS

Health

4

.341

07/01/28

186,898‌

1,100,000

Cigna

Corp

3

.000

07/15/23

1,086,587‌

300,000

Cigna

Corp

3

.500

06/15/24

293,876‌

900,000

Cigna

Corp

3

.250

04/15/25

859,444‌

2,000,000

Cigna

Corp

4

.125

11/15/25

1,942,432‌

150,000

Cigna

Corp

4

.500

02/25/26

146,397‌

1,000,000

Cigna

Corp

1

.250

03/15/26

875,847‌

4,475,000

Cigna

Corp

3

.400

03/01/27

4,113,329‌

300,000

Cigna

Corp

3

.050

10/15/27

268,844‌

3,275,000

Cigna

Corp

4

.375

10/15/28

3,092,408‌

250,000

Cigna

Corp

2

.400

03/15/30

203,602‌

550,000

Cigna

Corp

2

.375

03/15/31

437,306‌

1,700,000

Cigna

Corp

4

.800

08/15/38

1,506,424‌

225,000

Cigna

Corp

3

.200

03/15/40

161,750‌

93,000

Cigna

Corp

6

.125

11/15/41

92,561‌

975,000

Cigna

Corp

4

.800

07/15/46

834,513‌

1,150,000

Cigna

Corp

3

.875

10/15/47

842,833‌

2,450,000

Cigna

Corp

4

.900

12/15/48

2,115,613‌

750,000

Cigna

Corp

3

.400

03/15/50

507,184‌

1,100,000

Cigna

Corp

3

.400

03/15/51

750,093‌

600,000

City

of

Hope

4

.378

08/15/48

508,838‌

750,000

Community

Health

Network,

Inc

3

.099

05/01/50

485,157‌

485,000

Cottage

Health

Obligated

Group

3

.304

11/01/49

339,159‌

900,000

CVS

Health

Corp

3

.375

08/12/24

876,077‌

250,000

CVS

Health

Corp

2

.625

08/15/24

239,821‌

1,969,000

CVS

Health

Corp

3

.875

07/20/25

1,909,656‌

2,550,000

CVS

Health

Corp

2

.875

06/01/26

2,360,781‌

1,250,000

CVS

Health

Corp

3

.000

08/15/26

1,153,287‌

9,500,000

CVS

Health

Corp

1

.300

08/21/27

7,914,729‌

275,000

CVS

Health

Corp

3

.250

08/15/29

240,649‌

1,825,000

CVS

Health

Corp

1

.750

08/21/30

1,396,922‌

1,525,000

CVS

Health

Corp

1

.875

02/28/31

1,161,631‌

1,000,000

CVS

Health

Corp

2

.125

09/15/31

770,508‌

4,100,000

CVS

Health

Corp

4

.780

03/25/38

3,594,478‌

850,000

CVS

Health

Corp

2

.700

08/21/40

557,967‌

400,000

CVS

Health

Corp

5

.300

12/05/43

360,700‌

1,800,000

CVS

Health

Corp

5

.125

07/20/45

1,576,190‌

8,525,000

CVS

Health

Corp

5

.050

03/25/48

7,507,647‌

100,000

Dartmouth-Hitchcock

Health

4

.178

08/01/48

80,747‌

1,000,000

DENTSPLY

SIRONA,

Inc

3

.250

06/01/30

772,583‌

750,000

DH

Europe

Finance

II

Sarl

2

.200

11/15/24

709,168‌

300,000

DH

Europe

Finance

II

Sarl

2

.600

11/15/29

256,411‌

550,000

DH

Europe

Finance

II

Sarl

3

.250

11/15/39

416,980‌

1,000,000

DH

Europe

Finance

II

Sarl

3

.400

11/15/49

717,171‌

200,000

Dignity

Health

5

.267

11/01/64

170,104‌

400,000

Duke

University

Health

System,

Inc

3

.920

06/01/47

325,876‌

400,000

Edwards

Lifesciences

Corp

4

.300

06/15/28

373,935‌

225,000

Elevance

Health,

Inc

3

.500

08/15/24

220,063‌

550,000

Elevance

Health,

Inc

4

.100

05/15/32

496,773‌

600,000

Elevance

Health,

Inc

4

.550

05/15/52

506,159‌

750,000

Hackensack

Meridian

Health,

Inc

2

.675

09/01/41

506,563‌

200,000

Hackensack

Meridian

Health,

Inc

4

.211

07/01/48

167,185‌

750,000

Hackensack

Meridian

Health,

Inc

2

.875

09/01/50

489,243‌

200,000

Hackensack

Meridian

Health,

Inc

4

.500

07/01/57

174,969‌

685,000

Hartford

HealthCare

Corp

3

.447

07/01/54

499,470‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

80

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

$

2,500,000

HCA,

Inc

5

.000

%

03/15/24

$

2,483,635‌

2,000,000

HCA,

Inc

4

.500

02/15/27

1,867,021‌

500,000

g

HCA,

Inc

3

.125

03/15/27

442,645‌

2,500,000

HCA,

Inc

5

.625

09/01/28

2,382,294‌

1,000,000

g

HCA,

Inc

3

.375

03/15/29

847,445‌

1,500,000

HCA,

Inc

4

.125

06/15/29

1,315,485‌

2,000,000

HCA,

Inc

3

.500

09/01/30

1,651,440‌

2,000,000

HCA,

Inc

2

.375

07/15/31

1,479,451‌

500,000

g

HCA,

Inc

3

.625

03/15/32

404,519‌

225,000

HCA,

Inc

5

.125

06/15/39

188,814‌

125,000

g

HCA,

Inc

4

.375

03/15/42

93,419‌

875,000

HCA,

Inc

5

.500

06/15/47

739,195‌

2,500,000

HCA,

Inc

5

.250

06/15/49

2,032,866‌

1,000,000

HCA,

Inc

3

.500

07/15/51

619,169‌

200,000

g

HCA,

Inc

4

.625

03/15/52

150,221‌

1,000,000

Hoag

Memorial

Hospital

Presbyterian

3

.803

07/15/52

783,479‌

100,000

Humana,

Inc

3

.150

12/01/22

99,891‌

300,000

Humana,

Inc

3

.850

10/01/24

292,443‌

2,500,000

Humana,

Inc

1

.350

02/03/27

2,105,467‌

600,000

Humana,

Inc

3

.950

03/15/27

562,517‌

500,000

Humana,

Inc

3

.700

03/23/29

448,376‌

175,000

Humana,

Inc

3

.125

08/15/29

151,430‌

325,000

Humana,

Inc

2

.150

02/03/32

246,962‌

200,000

Humana,

Inc

4

.625

12/01/42

170,759‌

300,000

Humana,

Inc

4

.950

10/01/44

265,710‌

600,000

Humana,

Inc

4

.800

03/15/47

521,728‌

500,000

Humana,

Inc

3

.950

08/15/49

377,671‌

200,000

Indiana

University

Health,

Inc

Obligated

Group

3

.970

11/01/48

164,136‌

1,500,000

Indiana

University

Health,

Inc

Obligated

Group

2

.852

11/01/51

969,008‌

1,000,000

Inova

Health

System

Foundation

4

.068

05/15/52

824,935‌

760,000

Integris

Baptist

Medical

Center,

Inc

3

.875

08/15/50

576,842‌

350,000

Johns

Hopkins

Health

System

Corp

3

.837

05/15/46

276,734‌

500,000

Kaiser

Foundation

Hospitals

3

.150

05/01/27

463,311‌

1,400,000

Kaiser

Foundation

Hospitals

2

.810

06/01/41

977,024‌

100,000

Kaiser

Foundation

Hospitals

4

.875

04/01/42

93,399‌

1,265,000

Kaiser

Foundation

Hospitals

4

.150

05/01/47

1,058,976‌

1,000,000

Kaiser

Foundation

Hospitals

3

.266

11/01/49

706,664‌

1,000,000

Kaiser

Foundation

Hospitals

3

.002

06/01/51

661,769‌

755,000

Koninklijke

Philips

NV

5

.000

03/15/42

646,918‌

700,000

Laboratory

Corp

of

America

Holdings

4

.000

11/01/23

694,829‌

200,000

Laboratory

Corp

of

America

Holdings

3

.250

09/01/24

193,613‌

500,000

Laboratory

Corp

of

America

Holdings

2

.300

12/01/24

470,669‌

100,000

Laboratory

Corp

of

America

Holdings

3

.600

02/01/25

96,494‌

1,000,000

Laboratory

Corp

of

America

Holdings

1

.550

06/01/26

876,129‌

300,000

Laboratory

Corp

of

America

Holdings

3

.600

09/01/27

279,283‌

500,000

Laboratory

Corp

of

America

Holdings

2

.950

12/01/29

423,545‌

1,000,000

Laboratory

Corp

of

America

Holdings

2

.700

06/01/31

807,093‌

800,000

Laboratory

Corp

of

America

Holdings

4

.700

02/01/45

661,263‌

200,000

Mayo

Clinic

4

.000

11/15/47

165,920‌

200,000

Mayo

Clinic

4

.128

11/15/52

171,003‌

2,500,000

Mayo

Clinic

3

.196

11/15/61

1,623,398‌

1,000,000

McKesson

Corp

0

.900

12/03/25

875,840‌

500,000

McKesson

Corp

1

.300

08/15/26

431,840‌

200,000

McLaren

Health

Care

Corp

4

.386

05/15/48

168,591‌

2,777,000

Medtronic,

Inc

4

.375

03/15/35

2,531,080‌

1,074,000

Medtronic,

Inc

4

.625

03/15/45

969,334‌

500,000

Memorial

Health

Services

3

.447

11/01/49

364,582‌

1,000,000

Memorial

Sloan-Kettering

Cancer

Center

2

.955

01/01/50

671,398‌

200,000

Memorial

Sloan-Kettering

Cancer

Center

4

.125

07/01/52

168,520‌

500,000

Memorial

Sloan-Kettering

Cancer

Center

4

.200

07/01/55

416,824‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

81

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

$

200,000

Mercy

Health

4

.302

%

07/01/28

$

186,428‌

1,000,000

Methodist

Hospital

2

.705

12/01/50

627,022‌

500,000

Montefiore

Obligated

Group

5

.246

11/01/48

355,939‌

750,000

Montefiore

Obligated

Group

4

.287

09/01/50

470,523‌

1,000,000

Mount

Nittany

Medical

Center

Obligated

Group

3

.799

11/15/52

745,457‌

100,000

Mount

Sinai

Hospitals

Group,

Inc

3

.981

07/01/48

80,651‌

600,000

Mount

Sinai

Hospitals

Group,

Inc

3

.737

07/01/49

447,287‌

895,000

Mount

Sinai

Hospitals

Group,

Inc

3

.391

07/01/50

621,665‌

1,000,000

MultiCare

Health

System

2

.803

08/15/50

623,631‌

1,000,000

Nationwide

Children's

Hospital,

Inc

4

.556

11/01/52

879,839‌

1,000,000

New

York

and

Presbyterian

Hospital

2

.256

08/01/40

654,407‌

300,000

New

York

and

Presbyterian

Hospital

4

.024

08/01/45

247,677‌

150,000

New

York

and

Presbyterian

Hospital

4

.063

08/01/56

122,435‌

1,000,000

New

York

and

Presbyterian

Hospital

2

.606

08/01/60

566,854‌

500,000

New

York

and

Presbyterian

Hospital

3

.954

08/01/19

337,049‌

140,000

Northwell

Healthcare,

Inc

3

.979

11/01/46

109,107‌

675,000

Northwell

Healthcare,

Inc

4

.260

11/01/47

540,264‌

500,000

Northwell

Healthcare,

Inc

3

.809

11/01/49

378,738‌

1,000,000

e

NY

Society

for

Relief

of

Ruptured

&

Crippled

Maintaining

Hosp

Special

Surgery

2

.667

10/01/50

629,609‌

350,000

NYU

Hospitals

Center

5

.750

07/01/43

352,240‌

250,000

NYU

Hospitals

Center

4

.368

07/01/47

204,659‌

915,000

NYU

Langone

Hospitals

3

.380

07/01/55

632,895‌

1,000,000

Ochsner

LSU

Health

System

of

North

Louisiana

2

.510

05/15/31

764,645‌

1,000,000

OhioHealth

Corp

2

.297

11/15/31

783,990‌

750,000

OhioHealth

Corp

3

.042

11/15/50

522,599‌

100,000

Orlando

Health

Obligated

Group

4

.089

10/01/48

82,675‌

1,000,000

Orlando

Health

Obligated

Group

3

.327

10/01/50

703,749‌

750,000

PeaceHealth

Obligated

Group

1

.375

11/15/25

668,628‌

200,000

PeaceHealth

Obligated

Group

4

.787

11/15/48

174,597‌

750,000

PeaceHealth

Obligated

Group

3

.218

11/15/50

501,890‌

500,000

Piedmont

Healthcare,

Inc

2

.044

01/01/32

380,433‌

500,000

Piedmont

Healthcare,

Inc

2

.719

01/01/42

336,212‌

1,000,000

Piedmont

Healthcare,

Inc

2

.864

01/01/52

634,904‌

200,000

Providence

St.

Joseph

Health

Obligated

Group

2

.746

10/01/26

186,204‌

570,000

Providence

St.

Joseph

Health

Obligated

Group

2

.532

10/01/29

470,001‌

100,000

Providence

St.

Joseph

Health

Obligated

Group

3

.744

10/01/47

77,194‌

350,000

Providence

St.

Joseph

Health

Obligated

Group

3

.930

10/01/48

274,845‌

1,000,000

Providence

St.

Joseph

Health

Obligated

Group

2

.700

10/01/51

600,605‌

785,000

Queen's

Health

Systems

4

.810

07/01/52

733,820‌

125,000

Quest

Diagnostics,

Inc

3

.500

03/30/25

120,172‌

225,000

Quest

Diagnostics,

Inc

3

.450

06/01/26

211,769‌

500,000

Quest

Diagnostics,

Inc

4

.200

06/30/29

461,214‌

750,000

Quest

Diagnostics,

Inc

2

.950

06/30/30

626,883‌

500,000

Quest

Diagnostics,

Inc

2

.800

06/30/31

403,078‌

300,000

Quest

Diagnostics,

Inc

4

.700

03/30/45

246,982‌

1,500,000

Rady

Children's

Hospital-San

Diego

3

.154

08/15/51

1,049,639‌

390,000

Rush

Obligated

Group

3

.922

11/15/29

352,688‌

200,000

RWJ

Barnabas

Health,

Inc

3

.949

07/01/46

163,670‌

1,000,000

Sharp

HealthCare

2

.680

08/01/50

617,823‌

1,000,000

Smith

&

Nephew

plc

2

.032

10/14/30

748,852‌

500,000

Spectrum

Health

System

Obligated

Group

3

.487

07/15/49

374,179‌

300,000

SSM

Health

Care

Corp

3

.688

06/01/23

298,208‌

400,000

SSM

Health

Care

Corp

3

.823

06/01/27

380,941‌

1,620,000

Stanford

Health

Care

3

.027

08/15/51

1,071,942‌

475,000

Stryker

Corp

1

.150

06/15/25

428,457‌

200,000

Stryker

Corp

3

.375

11/01/25

190,293‌

1,600,000

Stryker

Corp

3

.500

03/15/26

1,523,266‌

500,000

Stryker

Corp

3

.650

03/07/28

470,505‌

600,000

Stryker

Corp

1

.950

06/15/30

475,158‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

82

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

$

200,000

Stryker

Corp

4

.100

%

04/01/43

$

159,961‌

200,000

Stryker

Corp

4

.375

05/15/44

165,292‌

550,000

Stryker

Corp

4

.625

03/15/46

479,740‌

575,000

Stryker

Corp

2

.900

06/15/50

372,742‌

1,500,000

Summa

Health

3

.511

11/15/51

1,021,851‌

200,000

Sutter

Health

3

.695

08/15/28

180,442‌

1,000,000

Sutter

Health

2

.294

08/15/30

805,835‌

500,000

Sutter

Health

3

.161

08/15/40

363,830‌

200,000

Sutter

Health

4

.091

08/15/48

161,120‌

500,000

Sutter

Health

3

.361

08/15/50

346,840‌

1,000,000

Texas

Health

Resources

2

.328

11/15/50

571,554‌

100,000

Texas

Health

Resources

4

.330

11/15/55

85,353‌

450,000

Toledo

Hospital

5

.750

11/15/38

409,952‌

2,000,000

Trinity

Health

Corp

2

.632

12/01/40

1,359,996‌

300,000

Trinity

Health

Corp

4

.125

12/01/45

249,022‌

185,000

Trinity

Health

Corp

3

.434

12/01/48

139,527‌

1,000,000

UMass

Memorial

Health

Care

Obligated

Group

5

.363

07/01/52

916,860‌

500,000

UnitedHealth

Group,

Inc

3

.700

12/15/25

483,978‌

1,000,000

UnitedHealth

Group,

Inc

1

.250

01/15/26

891,839‌

3,000,000

UnitedHealth

Group,

Inc

1

.150

05/15/26

2,654,941‌

200,000

UnitedHealth

Group,

Inc

3

.450

01/15/27

188,898‌

1,500,000

e

UnitedHealth

Group,

Inc

3

.700

05/15/27

1,427,026‌

1,700,000

UnitedHealth

Group,

Inc

2

.950

10/15/27

1,550,781‌

2,375,000

UnitedHealth

Group,

Inc

3

.850

06/15/28

2,232,258‌

500,000

UnitedHealth

Group,

Inc

3

.875

12/15/28

468,716‌

1,500,000

UnitedHealth

Group,

Inc

4

.000

05/15/29

1,397,606‌

1,000,000

UnitedHealth

Group,

Inc

2

.875

08/15/29

871,635‌

2,200,000

UnitedHealth

Group,

Inc

2

.000

05/15/30

1,769,745‌

1,750,000

UnitedHealth

Group,

Inc

2

.300

05/15/31

1,407,856‌

800,000

UnitedHealth

Group,

Inc

4

.200

05/15/32

742,994‌

150,000

UnitedHealth

Group,

Inc

5

.800

03/15/36

152,924‌

365,000

UnitedHealth

Group,

Inc

6

.625

11/15/37

399,082‌

200,000

UnitedHealth

Group,

Inc

6

.875

02/15/38

221,432‌

275,000

UnitedHealth

Group,

Inc

3

.500

08/15/39

216,057‌

1,000,000

UnitedHealth

Group,

Inc

2

.750

05/15/40

700,189‌

3,000,000

UnitedHealth

Group,

Inc

3

.050

05/15/41

2,178,684‌

300,000

UnitedHealth

Group,

Inc

4

.375

03/15/42

256,797‌

350,000

UnitedHealth

Group,

Inc

3

.950

10/15/42

283,665‌

375,000

UnitedHealth

Group,

Inc

4

.250

03/15/43

315,461‌

800,000

UnitedHealth

Group,

Inc

4

.200

01/15/47

661,293‌

300,000

UnitedHealth

Group,

Inc

4

.250

04/15/47

247,694‌

500,000

UnitedHealth

Group,

Inc

3

.750

10/15/47

383,948‌

1,700,000

UnitedHealth

Group,

Inc

4

.250

06/15/48

1,408,084‌

1,000,000

UnitedHealth

Group,

Inc

3

.700

08/15/49

756,672‌

4,000,000

UnitedHealth

Group,

Inc

2

.900

05/15/50

2,627,188‌

3,000,000

UnitedHealth

Group,

Inc

3

.250

05/15/51

2,081,721‌

450,000

UnitedHealth

Group,

Inc

4

.750

05/15/52

402,484‌

1,250,000

UnitedHealth

Group,

Inc

3

.875

08/15/59

930,433‌

1,000,000

UnitedHealth

Group,

Inc

3

.125

05/15/60

639,999‌

500,000

UnitedHealth

Group,

Inc

4

.950

05/15/62

445,149‌

1,000,000

g

Universal

Health

Services,

Inc

1

.650

09/01/26

838,006‌

1,000,000

g

Universal

Health

Services,

Inc

2

.650

01/15/32

706,949‌

370,000

WakeMed

3

.286

10/01/52

257,591‌

200,000

West

Virginia

United

Health

System

Obligated

Group

3

.129

06/01/50

130,279‌

500,000

Willis-Knighton

Medical

Center

3

.065

03/01/51

322,640‌

600,000

Zimmer

Biomet

Holdings,

Inc

1

.450

11/22/24

554,800‌

225,000

Zimmer

Biomet

Holdings,

Inc

3

.050

01/15/26

210,127‌

1,500,000

Zimmer

Biomet

Holdings,

Inc

2

.600

11/24/31

1,168,197‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

233,649,621‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

83

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0

.2

%

$

500,000

Church

&

Dwight

Co,

Inc

3

.150

%

08/01/27

$

459,085‌

250,000

Church

&

Dwight

Co,

Inc

2

.300

12/15/31

196,228‌

100,000

Church

&

Dwight

Co,

Inc

3

.950

08/01/47

78,178‌

725,000

Church

&

Dwight

Co,

Inc

5

.000

06/15/52

667,962‌

300,000

Clorox

Co

3

.100

10/01/27

273,086‌

500,000

Clorox

Co

3

.900

05/15/28

469,867‌

750,000

Clorox

Co

4

.400

05/01/29

708,077‌

1,000,000

Clorox

Co

1

.800

05/15/30

771,498‌

375,000

Clorox

Co

4

.600

05/01/32

349,115‌

300,000

Colgate-Palmolive

Co

3

.250

03/15/24

295,921‌

1,000,000

Colgate-Palmolive

Co

3

.100

08/15/27

939,502‌

60,000

Colgate-Palmolive

Co

6

.450

06/16/28

63,686‌

225,000

Colgate-Palmolive

Co

3

.250

08/15/32

200,504‌

300,000

Colgate-Palmolive

Co

4

.000

08/15/45

251,731‌

550,000

Colgate-Palmolive

Co

3

.700

08/01/47

454,767‌

125,000

Estee

Lauder

Cos,

Inc

2

.000

12/01/24

119,296‌

450,000

Estee

Lauder

Cos,

Inc

3

.150

03/15/27

421,616‌

200,000

Estee

Lauder

Cos,

Inc

2

.375

12/01/29

168,959‌

100,000

Estee

Lauder

Cos,

Inc

2

.600

04/15/30

84,759‌

1,500,000

Estee

Lauder

Cos,

Inc

1

.950

03/15/31

1,190,199‌

100,000

Estee

Lauder

Cos,

Inc

6

.000

05/15/37

104,659‌

300,000

e

Estee

Lauder

Cos,

Inc

4

.375

06/15/45

260,843‌

375,000

Estee

Lauder

Cos,

Inc

4

.150

03/15/47

313,202‌

700,000

Estee

Lauder

Cos,

Inc

3

.125

12/01/49

492,852‌

1,900,000

g

GSK

Consumer

Healthcare

Capital

US

LLC

3

.375

03/24/27

1,723,114‌

725,000

g

GSK

Consumer

Healthcare

Capital

US

LLC

3

.375

03/24/29

631,872‌

1,500,000

g

GSK

Consumer

Healthcare

Capital

US

LLC

3

.625

03/24/32

1,272,111‌

1,000,000

g

GSK

Consumer

Healthcare

Capital

US

LLC

4

.000

03/24/52

740,071‌

950,000

Kimberly-Clark

Corp

3

.050

08/15/25

907,537‌

200,000

Kimberly-Clark

Corp

1

.050

09/15/27

168,080‌

412,000

Kimberly-Clark

Corp

3

.950

11/01/28

390,618‌

1,500,000

Kimberly-Clark

Corp

3

.200

04/25/29

1,351,528‌

1,500,000

Kimberly-Clark

Corp

2

.000

11/02/31

1,179,659‌

200,000

Kimberly-Clark

Corp

6

.625

08/01/37

222,469‌

725,000

Kimberly-Clark

Corp

3

.200

07/30/46

516,366‌

200,000

Kimberly-Clark

Corp

3

.900

05/04/47

160,274‌

300,000

e

Kimberly-Clark

Corp

2

.875

02/07/50

201,801‌

2,000,000

Procter

&

Gamble

Co

0

.550

10/29/25

1,779,708‌

750,000

Procter

&

Gamble

Co

2

.700

02/02/26

713,828‌

2,000,000

Procter

&

Gamble

Co

1

.000

04/23/26

1,780,901‌

1,750,000

Procter

&

Gamble

Co

2

.450

11/03/26

1,623,930‌

750,000

Procter

&

Gamble

Co

2

.850

08/11/27

693,395‌

3,000,000

Procter

&

Gamble

Co

3

.000

03/25/30

2,686,022‌

1,150,000

Procter

&

Gamble

Co

1

.200

10/29/30

887,493‌

1,500,000

Procter

&

Gamble

Co

1

.950

04/23/31

1,217,718‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

30,184,087‌

INSURANCE

-

0

.7

%

700,000

ACE

INA

Holdings,

Inc

3

.150

03/15/25

671,560‌

2,325,000

ACE

INA

Holdings,

Inc

3

.350

05/03/26

2,197,330‌

150,000

ACE

INA

Holdings,

Inc

4

.150

03/13/43

126,753‌

1,600,000

ACE

INA

Holdings,

Inc

4

.350

11/03/45

1,351,136‌

500,000

Aegon

NV

5

.500

04/11/48

431,661‌

325,000

Aetna,

Inc

3

.500

11/15/24

315,797‌

440,000

Aetna,

Inc

6

.625

06/15/36

448,650‌

350,000

Aetna,

Inc

4

.500

05/15/42

288,082‌

500,000

Aetna,

Inc

4

.125

11/15/42

384,149‌

1,050,000

Aetna,

Inc

3

.875

08/15/47

772,663‌

2,000,000

Aflac,

Inc

1

.125

03/15/26

1,762,765‌

200,000

Aflac,

Inc

2

.875

10/15/26

186,209‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

84

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

INSURANCE—continued

$

375,000

Aflac,

Inc

3

.600

%

04/01/30

$

337,488‌

200,000

Aflac,

Inc

4

.000

10/15/46

157,604‌

500,000

Aflac,

Inc

4

.750

01/15/49

439,500‌

1,000,000

Alleghany

Corp

3

.625

05/15/30

891,084‌

200,000

Alleghany

Corp

4

.900

09/15/44

176,452‌

1,000,000

Alleghany

Corp

3

.250

08/15/51

673,600‌

300,000

Allied

World

Assurance

Co

Holdings

Ltd

4

.350

10/29/25

284,959‌

1,000,000

Allstate

Corp

0

.750

12/15/25

872,223‌

275,000

Allstate

Corp

3

.280

12/15/26

258,181‌

1,000,000

Allstate

Corp

1

.450

12/15/30

755,291‌

600,000

Allstate

Corp

4

.500

06/15/43

514,989‌

975,000

Allstate

Corp

4

.200

12/15/46

802,704‌

250,000

Allstate

Corp

3

.850

08/10/49

193,184‌

200,000

Allstate

Corp

5

.750

08/15/53

184,104‌

325,000

American

Financial

Group,

Inc

5

.250

04/02/30

311,639‌

400,000

American

Financial

Group,

Inc

4

.500

06/15/47

314,038‌

3,000,000

American

International

Group,

Inc

2

.500

06/30/25

2,799,019‌

300,000

American

International

Group,

Inc

4

.800

07/10/45

255,224‌

1,000,000

American

International

Group,

Inc

4

.750

04/01/48

857,443‌

300,000

American

International

Group,

Inc

5

.750

04/01/48

276,383‌

1,000,000

American

International

Group,

Inc

4

.375

06/30/50

800,224‌

200,000

Aon

Corp

4

.500

12/15/28

188,609‌

450,000

Aon

Corp

3

.750

05/02/29

404,759‌

450,000

Aon

Corp

2

.800

05/15/30

373,094‌

1,000,000

Aon

Corp

2

.050

08/23/31

749,239‌

1,000,000

Aon

Corp

2

.600

12/02/31

781,874‌

500,000

Aon

Corp

5

.000

09/12/32

479,216‌

200,000

Aon

Corp

6

.250

09/30/40

205,352‌

1,000,000

Aon

Corp

2

.900

08/23/51

618,847‌

500,000

Aon

Corp

3

.900

02/28/52

370,597‌

200,000

Aon

plc

4

.000

11/27/23

198,627‌

300,000

Aon

plc

3

.500

06/14/24

292,645‌

1,450,000

Aon

plc

3

.875

12/15/25

1,393,188‌

550,000

Aon

plc

4

.750

05/15/45

472,945‌

1,050,000

Arch

Capital

Group

Ltd

4

.011

12/15/26

1,003,124‌

200,000

Arch

Capital

Group

Ltd

5

.031

12/15/46

169,271‌

600,000

Arch

Capital

Group

Ltd

3

.635

06/30/50

408,466‌

300,000

Arch

Capital

Group

US,

Inc

5

.144

11/01/43

262,639‌

2,000,000

Arthur

J

Gallagher

&

Co

2

.400

11/09/31

1,530,168‌

125,000

Arthur

J

Gallagher

&

Co

3

.500

05/20/51

84,913‌

1,000,000

Arthur

J

Gallagher

&

Co

3

.050

03/09/52

617,439‌

200,000

Aspen

Insurance

Holdings

Ltd

4

.650

11/15/23

198,121‌

225,000

Assurant,

Inc

4

.200

09/27/23

223,750‌

300,000

Assurant,

Inc

4

.900

03/27/28

284,558‌

500,000

Assurant,

Inc

3

.700

02/22/30

419,480‌

1,500,000

Assurant,

Inc

2

.650

01/15/32

1,104,812‌

7,000

Assurant,

Inc

6

.750

02/15/34

6,988‌

137,000

e

Assured

Guaranty

US

Holdings,

Inc

5

.000

07/01/24

137,090‌

2,000,000

Assured

Guaranty

US

Holdings,

Inc

3

.150

06/15/31

1,617,985‌

300,000

Assured

Guaranty

US

Holdings,

Inc

3

.600

09/15/51

195,749‌

675,000

Athene

Holding

Ltd

4

.125

01/12/28

606,303‌

500,000

Athene

Holding

Ltd

6

.150

04/03/30

480,054‌

1,000,000

Athene

Holding

Ltd

3

.950

05/25/51

666,039‌

1,000,000

Athene

Holding

Ltd

3

.450

05/15/52

621,670‌

300,000

AXIS

Specialty

Finance

LLC

3

.900

07/15/29

260,735‌

250,000

AXIS

Specialty

Finance

LLC

4

.900

01/15/40

203,125‌

200,000

AXIS

Specialty

Finance

plc

4

.000

12/06/27

186,318‌

1,500,000

Berkshire

Hathaway

Finance

Corp

2

.300

03/15/27

1,365,174‌

100,000

Berkshire

Hathaway

Finance

Corp

1

.850

03/12/30

80,062‌

1,500,000

Berkshire

Hathaway

Finance

Corp

1

.450

10/15/30

1,149,740‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

85

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

INSURANCE—continued

$

1,000,000

Berkshire

Hathaway

Finance

Corp

2

.875

%

03/15/32

$

840,585‌

300,000

Berkshire

Hathaway

Finance

Corp

4

.400

05/15/42

263,714‌

2,175,000

Berkshire

Hathaway

Finance

Corp

4

.200

08/15/48

1,803,859‌

1,725,000

Berkshire

Hathaway

Finance

Corp

4

.250

01/15/49

1,433,565‌

3,000,000

Berkshire

Hathaway

Finance

Corp

2

.500

01/15/51

1,779,999‌

500,000

Berkshire

Hathaway

Finance

Corp

3

.850

03/15/52

382,011‌

1,000,000

Brighthouse

Financial,

Inc

5

.625

05/15/30

937,332‌

236,000

Brighthouse

Financial,

Inc

4

.700

06/22/47

167,055‌

500,000

Brown

&

Brown,

Inc

4

.500

03/15/29

469,167‌

1,000,000

Brown

&

Brown,

Inc

2

.375

03/15/31

746,873‌

1,000,000

Brown

&

Brown,

Inc

4

.200

03/17/32

854,923‌

500,000

Brown

&

Brown,

Inc

4

.950

03/17/52

405,296‌

450,000

Chubb

Corp

6

.000

05/11/37

469,153‌

1,325,000

Chubb

INA

Holdings,

Inc

1

.375

09/15/30

999,290‌

425,000

Chubb

INA

Holdings,

Inc

2

.850

12/15/51

277,511‌

1,500,000

Chubb

INA

Holdings,

Inc

3

.050

12/15/61

945,810‌

200,000

Cincinnati

Financial

Corp

6

.920

05/15/28

212,572‌

690,000

CNA

Financial

Corp

3

.950

05/15/24

676,671‌

200,000

CNA

Financial

Corp

4

.500

03/01/26

195,446‌

225,000

CNA

Financial

Corp

3

.450

08/15/27

205,211‌

100,000

CNA

Financial

Corp

3

.900

05/01/29

89,571‌

1,150,000

CNA

Financial

Corp

2

.050

08/15/30

877,689‌

500,000

CNO

Financial

Group,

Inc

5

.250

05/30/29

465,609‌

1,000,000

g

Corebridge

Financial,

Inc

3

.500

04/04/25

949,940‌

1,000,000

g

Corebridge

Financial,

Inc

3

.650

04/05/27

913,255‌

1,000,000

g

Corebridge

Financial,

Inc

3

.850

04/05/29

881,339‌

2,000,000

g

Corebridge

Financial,

Inc

3

.900

04/05/32

1,688,138‌

1,000,000

g

Corebridge

Financial,

Inc

4

.350

04/05/42

769,362‌

500,000

g

Corebridge

Financial,

Inc

4

.400

04/05/52

380,028‌

1,000,000

g

Corebridge

Financial,

Inc

6

.875

12/15/52

914,458‌

500,000

Enstar

Group

Ltd

4

.950

06/01/29

448,843‌

1,000,000

Enstar

Group

Ltd

3

.100

09/01/31

710,156‌

300,000

Everest

Reinsurance

Holdings,

Inc

4

.868

06/01/44

251,767‌

250,000

Everest

Reinsurance

Holdings,

Inc

3

.500

10/15/50

165,267‌

1,200,000

Everest

Reinsurance

Holdings,

Inc

3

.125

10/15/52

741,650‌

400,000

Fairfax

Financial

Holdings

Ltd

4

.850

04/17/28

375,839‌

500,000

Fairfax

Financial

Holdings

Ltd

4

.625

04/29/30

449,542‌

1,000,000

Fairfax

Financial

Holdings

Ltd

3

.375

03/03/31

807,508‌

1,000,000

g

Fairfax

Financial

Holdings

Ltd

5

.625

08/16/32

922,029‌

300,000

Fidelity

National

Financial,

Inc

4

.500

08/15/28

282,188‌

1,000,000

Fidelity

National

Financial,

Inc

3

.400

06/15/30

815,202‌

500,000

Fidelity

National

Financial,

Inc

2

.450

03/15/31

370,765‌

400,000

Fidelity

National

Financial,

Inc

3

.200

09/17/51

229,722‌

750,000

First

American

Financial

Corp

4

.000

05/15/30

625,333‌

400,000

First

American

Financial

Corp

2

.400

08/15/31

285,744‌

350,000

Globe

Life,

Inc

2

.150

08/15/30

272,226‌

175,000

Globe

Life,

Inc

4

.800

06/15/32

162,086‌

200,000

Hanover

Insurance

Group,

Inc

4

.500

04/15/26

192,705‌

1,000,000

Hanover

Insurance

Group,

Inc

2

.500

09/01/30

765,518‌

750,000

Hartford

Financial

Services

Group,

Inc

2

.800

08/19/29

632,707‌

400,000

Hartford

Financial

Services

Group,

Inc

4

.300

04/15/43

318,242‌

450,000

Hartford

Financial

Services

Group,

Inc

4

.400

03/15/48

370,144‌

450,000

Hartford

Financial

Services

Group,

Inc

3

.600

08/19/49

322,153‌

475,000

Hartford

Financial

Services

Group,

Inc

2

.900

09/15/51

290,140‌

500,000

Jackson

Financial,

Inc

5

.170

06/08/27

481,393‌

1,500,000

Jackson

Financial,

Inc

3

.125

11/23/31

1,128,583‌

500,000

Jackson

Financial,

Inc

5

.670

06/08/32

457,210‌

1,000,000

Jackson

Financial,

Inc

4

.000

11/23/51

624,640‌

200,000

Kemper

Corp

4

.350

02/15/25

194,837‌

500,000

Kemper

Corp

2

.400

09/30/30

383,205‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

86

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

INSURANCE—continued

$

1,000,000

e

Kemper

Corp

3

.800

%

02/23/32

$

830,858‌

400,000

Leucadia

National

Corp

5

.500

10/18/23

399,232‌

175,000

Lincoln

National

Corp

3

.350

03/09/25

168,836‌

600,000

Lincoln

National

Corp

3

.625

12/12/26

563,617‌

650,000

Lincoln

National

Corp

3

.050

01/15/30

545,188‌

1,000,000

Lincoln

National

Corp

3

.400

03/01/32

818,999‌

150,000

Lincoln

National

Corp

7

.000

06/15/40

156,682‌

250,000

Lincoln

National

Corp

4

.350

03/01/48

193,879‌

500,000

Lincoln

National

Corp

4

.375

06/15/50

385,498‌

800,000

Loews

Corp

3

.750

04/01/26

771,899‌

400,000

Loews

Corp

3

.200

05/15/30

341,185‌

200,000

Loews

Corp

4

.125

05/15/43

154,125‌

700,000

Manulife

Financial

Corp

4

.150

03/04/26

678,667‌

1,300,000

Manulife

Financial

Corp

4

.061

02/24/32

1,154,439‌

1,000,000

Manulife

Financial

Corp

3

.703

03/16/32

867,956‌

200,000

Manulife

Financial

Corp

5

.375

03/04/46

189,745‌

200,000

Markel

Corp

3

.350

09/17/29

173,173‌

150,000

Markel

Corp

5

.000

04/05/46

127,292‌

100,000

Markel

Corp

4

.300

11/01/47

77,004‌

750,000

Markel

Corp

5

.000

05/20/49

646,887‌

200,000

Markel

Corp

4

.150

09/17/50

149,887‌

1,500,000

Markel

Corp

3

.450

05/07/52

996,094‌

725,000

Marsh

&

McLennan

Cos,

Inc

3

.875

03/15/24

714,897‌

1,700,000

Marsh

&

McLennan

Cos,

Inc

4

.375

03/15/29

1,614,679‌

450,000

Marsh

&

McLennan

Cos,

Inc

2

.250

11/15/30

357,059‌

600,000

Marsh

&

McLennan

Cos,

Inc

2

.375

12/15/31

471,470‌

250,000

Marsh

&

McLennan

Cos,

Inc

4

.750

03/15/39

224,817‌

100,000

Marsh

&

McLennan

Cos,

Inc

4

.350

01/30/47

81,640‌

300,000

Marsh

&

McLennan

Cos,

Inc

4

.200

03/01/48

238,437‌

1,200,000

Marsh

&

McLennan

Cos,

Inc

4

.900

03/15/49

1,064,738‌

1,000,000

Marsh

&

McLennan

Cos,

Inc

2

.900

12/15/51

619,720‌

200,000

Mercury

General

Corp

4

.400

03/15/27

186,476‌

525,000

MetLife,

Inc

4

.368

09/15/23

523,199‌

700,000

MetLife,

Inc

3

.600

04/10/24

687,051‌

700,000

MetLife,

Inc

3

.600

11/13/25

673,989‌

675,000

MetLife,

Inc

6

.375

06/15/34

713,439‌

1,530,000

MetLife,

Inc

5

.700

06/15/35

1,549,763‌

130,000

MetLife,

Inc

5

.875

02/06/41

129,641‌

450,000

MetLife,

Inc

4

.125

08/13/42

363,949‌

750,000

MetLife,

Inc

4

.875

11/13/43

670,156‌

500,000

MetLife,

Inc

4

.721

12/15/44

431,709‌

800,000

MetLife,

Inc

4

.050

03/01/45

624,481‌

1,650,000

MetLife,

Inc

4

.600

05/13/46

1,442,322‌

200,000

MetLife,

Inc

5

.000

07/15/52

182,312‌

20,000

Nationwide

Financial

Services

6

.750

05/15/37

19,050‌

200,000

Old

Republic

International

Corp

4

.875

10/01/24

199,638‌

100,000

Old

Republic

International

Corp

3

.875

08/26/26

94,476‌

1,500,000

Old

Republic

International

Corp

3

.850

06/11/51

1,029,720‌

500,000

PartnerRe

Finance

B

LLC

3

.700

07/02/29

444,782‌

500,000

PartnerRe

Finance

B

LLC

4

.500

10/01/50

419,421‌

725,000

Presbyterian

Healthcare

Services

4

.875

08/01/52

683,592‌

1,000,000

Primerica,

Inc

2

.800

11/19/31

785,196‌

150,000

Principal

Financial

Group,

Inc

3

.125

05/15/23

148,734‌

200,000

Principal

Financial

Group,

Inc

3

.400

05/15/25

191,840‌

850,000

Principal

Financial

Group,

Inc

3

.100

11/15/26

778,614‌

100,000

Principal

Financial

Group,

Inc

3

.700

05/15/29

89,542‌

1,000,000

Principal

Financial

Group,

Inc

2

.125

06/15/30

782,123‌

100,000

Principal

Financial

Group,

Inc

4

.625

09/15/42

84,887‌

200,000

e

Principal

Financial

Group,

Inc

4

.350

05/15/43

165,964‌

300,000

Principal

Financial

Group,

Inc

4

.300

11/15/46

242,597‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

87

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

INSURANCE—continued

$

650,000

Progressive

Corp

2

.450

%

01/15/27

$

597,571‌

750,000

Progressive

Corp

2

.500

03/15/27

677,442‌

250,000

Progressive

Corp

4

.000

03/01/29

236,144‌

100,000

Progressive

Corp

3

.200

03/26/30

87,854‌

125,000

Progressive

Corp

3

.000

03/15/32

104,123‌

120,000

Progressive

Corp

6

.250

12/01/32

127,793‌

300,000

Progressive

Corp

4

.350

04/25/44

253,923‌

300,000

Progressive

Corp

3

.700

01/26/45

227,771‌

950,000

Progressive

Corp

4

.125

04/15/47

787,128‌

750,000

Progressive

Corp

4

.200

03/15/48

625,908‌

100,000

Progressive

Corp

3

.950

03/26/50

79,329‌

500,000

Progressive

Corp

3

.700

03/15/52

375,587‌

200,000

Prudential

Financial,

Inc

1

.500

03/10/26

178,854‌

195,000

Prudential

Financial,

Inc

3

.878

03/27/28

184,295‌

500,000

e

Prudential

Financial,

Inc

2

.100

03/10/30

400,588‌

450,000

Prudential

Financial,

Inc

5

.700

12/14/36

444,671‌

500,000

Prudential

Financial,

Inc

3

.000

03/10/40

360,007‌

600,000

Prudential

Financial,

Inc

5

.200

03/15/44

576,594‌

1,700,000

Prudential

Financial,

Inc

4

.600

05/15/44

1,451,301‌

200,000

Prudential

Financial,

Inc

5

.375

05/15/45

189,096‌

2,300,000

e

Prudential

Financial,

Inc

4

.500

09/15/47

1,995,733‌

300,000

Prudential

Financial,

Inc

4

.418

03/27/48

250,903‌

2,400,000

Prudential

Financial,

Inc

5

.700

09/15/48

2,241,000‌

799,000

Prudential

Financial,

Inc

3

.935

12/07/49

608,916‌

450,000

Prudential

Financial,

Inc

4

.350

02/25/50

370,897‌

1,000,000

Prudential

Financial,

Inc

3

.700

03/13/51

735,379‌

675,000

Prudential

Financial,

Inc

5

.125

03/01/52

585,185‌

1,000,000

Prudential

Financial,

Inc

6

.000

09/01/52

933,599‌

200,000

Prudential

plc

3

.125

04/14/30

167,178‌

1,000,000

Prudential

plc

3

.625

03/24/32

841,484‌

250,000

Reinsurance

Group

of

America,

Inc

4

.700

09/15/23

249,139‌

750,000

Reinsurance

Group

of

America,

Inc

3

.900

05/15/29

668,137‌

350,000

Reinsurance

Group

of

America,

Inc

3

.150

06/15/30

291,482‌

200,000

RenaissanceRe

Finance,

Inc

3

.700

04/01/25

192,408‌

200,000

RenaissanceRe

Finance,

Inc

3

.450

07/01/27

183,138‌

300,000

RenaissanceRe

Holdings

Ltd

3

.600

04/15/29

264,221‌

1,000,000

Stewart

Information

Services

Corp

3

.600

11/15/31

770,782‌

350,000

Torchmark

Corp

4

.550

09/15/28

329,199‌

20,000

Transatlantic

Holdings,

Inc

8

.000

11/30/39

23,847‌

600,000

Travelers

Cos,

Inc

5

.350

11/01/40

587,122‌

200,000

Travelers

Cos,

Inc

4

.600

08/01/43

174,306‌

250,000

Travelers

Cos,

Inc

4

.300

08/25/45

209,250‌

1,100,000

Travelers

Cos,

Inc

4

.000

05/30/47

888,862‌

500,000

Travelers

Cos,

Inc

4

.050

03/07/48

410,940‌

900,000

Travelers

Cos,

Inc

4

.100

03/04/49

735,704‌

2,000,000

Travelers

Cos,

Inc

3

.050

06/08/51

1,379,777‌

100,000

Travelers

Property

Casualty

Corp

6

.375

03/15/33

109,147‌

500,000

Unum

Group

4

.000

06/15/29

443,558‌

300,000

Unum

Group

5

.750

08/15/42

259,862‌

500,000

Unum

Group

4

.500

12/15/49

351,056‌

1,000,000

Unum

Group

4

.125

06/15/51

666,348‌

1,000,000

W

R

Berkley

Corp

3

.550

03/30/52

689,128‌

400,000

W

R

Berkley

Corp

3

.150

09/30/61

238,289‌

425,000

Willis

North

America,

Inc

3

.600

05/15/24

412,640‌

1,000,000

Willis

North

America,

Inc

4

.650

06/15/27

949,605‌

500,000

Willis

North

America,

Inc

4

.500

09/15/28

463,746‌

900,000

Willis

North

America,

Inc

2

.950

09/15/29

740,450‌

300,000

Willis

North

America,

Inc

5

.050

09/15/48

255,715‌

500,000

Willis

North

America,

Inc

3

.875

09/15/49

345,897‌

200,000

WR

Berkley

Corp

4

.750

08/01/44

169,930‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

88

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

INSURANCE—continued

$

650,000

WR

Berkley

Corp

4

.000

%

05/12/50

$

490,663‌

200,000

XLIT

Ltd

5

.250

12/15/43

191,741‌

300,000

XLIT

Ltd

5

.500

03/31/45

277,310‌

TOTAL

INSURANCE

138,804,543‌

MATERIALS

-

0

.6

%

300,000

Air

Products

&

Chemicals,

Inc

3

.350

07/31/24

293,963‌

175,000

Air

Products

&

Chemicals,

Inc

1

.500

10/15/25

159,031‌

500,000

Air

Products

&

Chemicals,

Inc

1

.850

05/15/27

440,332‌

2,125,000

Air

Products

&

Chemicals,

Inc

2

.050

05/15/30

1,737,763‌

125,000

Air

Products

&

Chemicals,

Inc

2

.700

05/15/40

89,839‌

1,250,000

e

Air

Products

&

Chemicals,

Inc

2

.800

05/15/50

831,393‌

750,000

Albemarle

Corp

4

.650

06/01/27

718,908‌

1,000,000

Albemarle

Corp

5

.050

06/01/32

926,647‌

1,000,000

Albemarle

Corp

5

.650

06/01/52

886,418‌

500,000

Amcor

Finance

USA,

Inc

3

.625

04/28/26

466,895‌

400,000

Amcor

Finance

USA,

Inc

4

.500

05/15/28

369,881‌

2,000,000

Amcor

Flexibles

North

America,

Inc

2

.690

05/25/31

1,564,122‌

375,000

AngloGold

Ashanti

Holdings

plc

3

.750

10/01/30

290,669‌

1,000,000

AptarGroup,

Inc

3

.600

03/15/32

818,952‌

300,000

Avery

Dennison

Corp

4

.875

12/06/28

288,876‌

500,000

Avery

Dennison

Corp

2

.650

04/30/30

399,669‌

1,000,000

Avery

Dennison

Corp

2

.250

02/15/32

737,706‌

100,000

Barrick

Australian

Finance

Pty

Ltd

5

.950

10/15/39

97,265‌

2,250,000

Barrick

Gold

Corp

5

.250

04/01/42

2,049,860‌

500,000

Barrick

North

America

Finance

LLC

5

.750

05/01/43

470,462‌

100,000

Bemis

Co,

Inc

3

.100

09/15/26

92,116‌

200,000

Bemis

Co,

Inc

2

.630

06/19/30

160,684‌

625,000

Berry

Global,

Inc

0

.950

02/15/24

587,196‌

1,375,000

Berry

Global,

Inc

1

.570

01/15/26

1,198,760‌

625,000

Berry

Global,

Inc

1

.650

01/15/27

518,255‌

825,000

BHP

Billiton

Finance

USA

Ltd

4

.125

02/24/42

701,072‌

1,925,000

BHP

Billiton

Finance

USA

Ltd

5

.000

09/30/43

1,824,489‌

500,000

Cabot

Corp

4

.000

07/01/29

435,739‌

1,000,000

Cabot

Corp

5

.000

06/30/32

897,673‌

400,000

Celulosa

Arauco

y

Constitucion

S.A.

4

.500

08/01/24

389,704‌

375,000

Celulosa

Arauco

y

Constitucion

S.A.

3

.875

11/02/27

326,261‌

200,000

Celulosa

Arauco

y

Constitucion

S.A.

5

.500

11/02/47

147,398‌

14,000

Dow

Chemical

Co

4

.550

11/30/25

13,782‌

300,000

Dow

Chemical

Co

4

.800

11/30/28

285,594‌

81,000

Dow

Chemical

Co

7

.375

11/01/29

87,973‌

1,000,000

e

Dow

Chemical

Co

2

.100

11/15/30

766,013‌

982,000

Dow

Chemical

Co

4

.250

10/01/34

831,758‌

131,000

Dow

Chemical

Co

9

.400

05/15/39

166,449‌

275,000

Dow

Chemical

Co

5

.250

11/15/41

244,362‌

1,200,000

Dow

Chemical

Co

4

.375

11/15/42

943,994‌

400,000

Dow

Chemical

Co

4

.625

10/01/44

320,318‌

825,000

Dow

Chemical

Co

5

.550

11/30/48

749,070‌

750,000

Dow

Chemical

Co

4

.800

05/15/49

615,987‌

1,000,000

Dow

Chemical

Co

3

.600

11/15/50

683,055‌

1,600,000

DowDuPont,

Inc

4

.493

11/15/25

1,571,613‌

2,300,000

DowDuPont,

Inc

4

.725

11/15/28

2,187,224‌

150,000

DowDuPont,

Inc

5

.319

11/15/38

135,998‌

2,325,000

DowDuPont,

Inc

5

.419

11/15/48

2,092,080‌

1,500,000

Eagle

Materials,

Inc

2

.500

07/01/31

1,094,181‌

727,000

Eastman

Chemical

Co

3

.800

03/15/25

699,500‌

700,000

Eastman

Chemical

Co

4

.500

12/01/28

645,959‌

150,000

Eastman

Chemical

Co

4

.800

09/01/42

120,972‌

525,000

Eastman

Chemical

Co

4

.650

10/15/44

409,463‌

750,000

Ecolab,

Inc

2

.700

11/01/26

694,196‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

89

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MATERIALS—continued

$

1,000,000

Ecolab,

Inc

1

.650

%

02/01/27

$

877,847‌

300,000

Ecolab,

Inc

3

.250

12/01/27

280,071‌

1,000,000

e

Ecolab,

Inc

1

.300

01/30/31

751,402‌

1,000,000

e

Ecolab,

Inc

2

.125

02/01/32

789,534‌

150,000

e

Ecolab,

Inc

2

.125

08/15/50

84,177‌

1,000,000

Ecolab,

Inc

2

.700

12/15/51

636,728‌

1,370,000

Ecolab,

Inc

2

.750

08/18/55

847,311‌

350,000

EI

du

Pont

de

Nemours

and

Co

1

.700

07/15/25

321,770‌

175,000

EI

du

Pont

de

Nemours

and

Co

2

.300

07/15/30

142,771‌

700,000

Fibria

Overseas

Finance

Ltd

5

.500

01/17/27

668,630‌

200,000

FMC

Corp

4

.100

02/01/24

197,475‌

500,000

FMC

Corp

3

.200

10/01/26

459,883‌

500,000

FMC

Corp

3

.450

10/01/29

429,357‌

500,000

FMC

Corp

4

.500

10/01/49

377,489‌

1,000,000

Freeport-McMoRan,

Inc

4

.125

03/01/28

895,427‌

1,000,000

Freeport-McMoRan,

Inc

4

.375

08/01/28

900,459‌

1,000,000

Freeport-McMoRan,

Inc

5

.250

09/01/29

929,340‌

1,000,000

Freeport-McMoRan,

Inc

4

.250

03/01/30

855,120‌

300,000

Georgia-Pacific

LLC

8

.000

01/15/24

311,837‌

750,000

Georgia-Pacific

LLC

7

.750

11/15/29

850,228‌

600,000

Huntsman

International

LLC

4

.500

05/01/29

529,009‌

2,000,000

Huntsman

International

LLC

2

.950

06/15/31

1,505,220‌

300,000

International

Flavors

&

Fragrances,

Inc

3

.200

05/01/23

297,990‌

100,000

International

Flavors

&

Fragrances,

Inc

4

.450

09/26/28

91,764‌

200,000

International

Flavors

&

Fragrances,

Inc

4

.375

06/01/47

154,340‌

675,000

International

Flavors

&

Fragrances,

Inc

5

.000

09/26/48

562,910‌

450,000

International

Paper

Co

6

.000

11/15/41

429,199‌

390,000

International

Paper

Co

4

.800

06/15/44

324,486‌

2,425,000

International

Paper

Co

4

.350

08/15/48

1,928,847‌

1,000,000

Kinross

Gold

Corp

4

.500

07/15/27

931,140‌

150,000

Lubrizol

Corp

6

.500

10/01/34

163,945‌

170,000

LYB

International

Finance

BV

4

.000

07/15/23

168,984‌

575,000

LYB

International

Finance

BV

5

.250

07/15/43

490,777‌

550,000

LYB

International

Finance

BV

4

.875

03/15/44

447,231‌

491,000

LYB

International

Finance

III

LLC

1

.250

10/01/25

431,429‌

150,000

LYB

International

Finance

III

LLC

2

.250

10/01/30

116,671‌

150,000

LYB

International

Finance

III

LLC

3

.375

10/01/40

102,800‌

1,000,000

LYB

International

Finance

III

LLC

4

.200

10/15/49

717,575‌

750,000

LYB

International

Finance

III

LLC

4

.200

05/01/50

538,485‌

1,000,000

e

LYB

International

Finance

III

LLC

3

.625

04/01/51

652,113‌

500,000

LYB

International

Finance

III

LLC

3

.800

10/01/60

314,978‌

741,000

LyondellBasell

Industries

NV

5

.750

04/15/24

746,879‌

475,000

LyondellBasell

Industries

NV

4

.625

02/26/55

356,341‌

200,000

Martin

Marietta

Materials,

Inc

4

.250

07/02/24

196,987‌

200,000

Martin

Marietta

Materials,

Inc

3

.450

06/01/27

184,759‌

325,000

e

Martin

Marietta

Materials,

Inc

3

.500

12/15/27

299,176‌

250,000

Martin

Marietta

Materials,

Inc

2

.500

03/15/30

200,803‌

1,000,000

Martin

Marietta

Materials,

Inc

2

.400

07/15/31

771,962‌

450,000

Martin

Marietta

Materials,

Inc

4

.250

12/15/47

341,347‌

1,000,000

Martin

Marietta

Materials,

Inc

3

.200

07/15/51

626,012‌

1,000,000

Mosaic

Co

4

.250

11/15/23

991,813‌

800,000

Mosaic

Co

4

.050

11/15/27

744,447‌

300,000

Mosaic

Co

5

.450

11/15/33

282,488‌

100,000

Mosaic

Co

4

.875

11/15/41

80,940‌

600,000

Mosaic

Co

5

.625

11/15/43

538,647‌

1,000,000

NewMarket

Corp

2

.700

03/18/31

758,665‌

250,000

Newmont

Corp

2

.250

10/01/30

193,387‌

1,350,000

Newmont

Corp

2

.600

07/15/32

1,029,302‌

1,300,000

Newmont

Goldcorp

Corp

2

.800

10/01/29

1,076,154‌

298,000

Newmont

Goldcorp

Corp

5

.875

04/01/35

286,925‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

90

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MATERIALS—continued

$

235,000

Newmont

Goldcorp

Corp

6

.250

%

10/01/39

$

234,569‌

975,000

Newmont

Goldcorp

Corp

4

.875

03/15/42

840,622‌

300,000

Newmont

Goldcorp

Corp

5

.450

06/09/44

273,591‌

275,000

Nucor

Corp

2

.000

06/01/25

253,825‌

500,000

Nucor

Corp

4

.300

05/23/27

478,655‌

425,000

Nucor

Corp

3

.950

05/01/28

390,867‌

3,150,000

Nucor

Corp

2

.700

06/01/30

2,587,701‌

500,000

Nucor

Corp

3

.125

04/01/32

408,150‌

1,000,000

Nucor

Corp

2

.979

12/15/55

591,108‌

150,000

Nutrien

Ltd

3

.150

10/01/22

150,000‌

500,000

Nutrien

Ltd

1

.900

05/13/23

490,838‌

200,000

Nutrien

Ltd

3

.000

04/01/25

190,593‌

700,000

Nutrien

Ltd

4

.000

12/15/26

663,699‌

550,000

Nutrien

Ltd

4

.200

04/01/29

508,928‌

500,000

Nutrien

Ltd

2

.950

05/13/30

417,924‌

200,000

Nutrien

Ltd

4

.125

03/15/35

169,708‌

200,000

Nutrien

Ltd

5

.625

12/01/40

188,467‌

200,000

Nutrien

Ltd

4

.900

06/01/43

172,473‌

691,000

Nutrien

Ltd

5

.250

01/15/45

614,757‌

1,050,000

Nutrien

Ltd

5

.000

04/01/49

928,184‌

300,000

Nutrien

Ltd

3

.950

05/13/50

227,724‌

500,000

Owens

Corning

4

.200

12/01/24

490,630‌

300,000

Owens

Corning

3

.400

08/15/26

276,319‌

500,000

Owens

Corning

3

.950

08/15/29

447,489‌

300,000

Owens

Corning

3

.875

06/01/30

262,079‌

525,000

Owens

Corning

4

.300

07/15/47

385,131‌

350,000

Owens

Corning

4

.400

01/30/48

260,272‌

100,000

Packaging

Corp

of

America

3

.650

09/15/24

97,544‌

550,000

Packaging

Corp

of

America

3

.400

12/15/27

499,134‌

100,000

Packaging

Corp

of

America

3

.000

12/15/29

84,461‌

500,000

Packaging

Corp

of

America

4

.050

12/15/49

374,265‌

1,500,000

Packaging

Corp

of

America

3

.050

10/01/51

949,248‌

300,000

PPG

Industries,

Inc

3

.200

03/15/23

297,858‌

500,000

PPG

Industries,

Inc

2

.400

08/15/24

480,254‌

250,000

PPG

Industries,

Inc

1

.200

03/15/26

218,180‌

425,000

PPG

Industries,

Inc

3

.750

03/15/28

393,935‌

500,000

PPG

Industries,

Inc

2

.550

06/15/30

412,461‌

300,000

e

Praxair,

Inc

2

.650

02/05/25

286,165‌

1,000,000

Praxair,

Inc

3

.200

01/30/26

953,487‌

725,000

Praxair,

Inc

1

.100

08/10/30

547,736‌

625,000

Praxair,

Inc

3

.550

11/07/42

486,747‌

225,000

Praxair,

Inc

2

.000

08/10/50

123,783‌

300,000

Reliance

Steel

&

Aluminum

Co

4

.500

04/15/23

299,341‌

500,000

Reliance

Steel

&

Aluminum

Co

1

.300

08/15/25

446,088‌

500,000

Reliance

Steel

&

Aluminum

Co

2

.150

08/15/30

380,296‌

414,000

Rio

Tinto

Alcan,

Inc

6

.125

12/15/33

437,374‌

350,000

Rio

Tinto

Finance

USA

Ltd

5

.200

11/02/40

339,108‌

1,000,000

Rio

Tinto

Finance

USA

Ltd

2

.750

11/02/51

648,016‌

1,400,000

Rio

Tinto

Finance

USA

plc

4

.125

08/21/42

1,176,562‌

100,000

RPM

International,

Inc

3

.750

03/15/27

92,129‌

300,000

RPM

International,

Inc

4

.550

03/01/29

273,361‌

1,000,000

RPM

International,

Inc

2

.950

01/15/32

769,624‌

100,000

RPM

International,

Inc

5

.250

06/01/45

83,731‌

200,000

RPM

International,

Inc

4

.250

01/15/48

145,220‌

200,000

Sherwin-Williams

Co

3

.450

08/01/25

190,279‌

1,000,000

Sherwin-Williams

Co

4

.250

08/08/25

976,061‌

200,000

Sherwin-Williams

Co

3

.950

01/15/26

193,957‌

925,000

Sherwin-Williams

Co

3

.450

06/01/27

849,212‌

500,000

Sherwin-Williams

Co

2

.950

08/15/29

427,700‌

500,000

Sherwin-Williams

Co

2

.300

05/15/30

399,365‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

91

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MATERIALS—continued

$

950,000

Sherwin-Williams

Co

2

.200

%

03/15/32

$

718,545‌

200,000

Sherwin-Williams

Co

4

.000

12/15/42

151,039‌

900,000

Sherwin-Williams

Co

4

.500

06/01/47

729,572‌

900,000

Sherwin-Williams

Co

3

.800

08/15/49

645,814‌

500,000

Sherwin-Williams

Co

3

.300

05/15/50

327,875‌

1,000,000

Sherwin-Williams

Co

2

.900

03/15/52

600,993‌

650,000

Sonoco

Products

Co

2

.250

02/01/27

575,667‌

750,000

Sonoco

Products

Co

3

.125

05/01/30

623,827‌

1,000,000

Sonoco

Products

Co

2

.850

02/01/32

792,337‌

300,000

Southern

Copper

Corp

3

.875

04/23/25

287,250‌

100,000

Southern

Copper

Corp

7

.500

07/27/35

108,250‌

1,180,000

Southern

Copper

Corp

6

.750

04/16/40

1,218,598‌

1,500,000

Southern

Copper

Corp

5

.875

04/23/45

1,404,423‌

250,000

Steel

Dynamics,

Inc

2

.800

12/15/24

238,823‌

100,000

Steel

Dynamics,

Inc

2

.400

06/15/25

92,452‌

1,000,000

Steel

Dynamics,

Inc

1

.650

10/15/27

817,743‌

750,000

Steel

Dynamics,

Inc

3

.450

04/15/30

632,875‌

100,000

Steel

Dynamics,

Inc

3

.250

01/15/31

81,547‌

500,000

Steel

Dynamics,

Inc

3

.250

10/15/50

305,108‌

700,000

Suzano

Austria

GmbH

2

.500

09/15/28

547,498‌

1,900,000

Suzano

Austria

GmbH

6

.000

01/15/29

1,770,266‌

1,000,000

Suzano

Austria

GmbH

3

.750

01/15/31

783,450‌

1,500,000

Suzano

Austria

GmbH

3

.125

01/15/32

1,079,550‌

750,000

Vulcan

Materials

Co

4

.500

04/01/25

738,174‌

100,000

Vulcan

Materials

Co

3

.900

04/01/27

94,924‌

275,000

Vulcan

Materials

Co

3

.500

06/01/30

235,224‌

475,000

Vulcan

Materials

Co

4

.500

06/15/47

384,843‌

200,000

Vulcan

Materials

Co

4

.700

03/01/48

165,934‌

200,000

Westlake

Chemical

Corp

0

.875

08/15/24

186,542‌

500,000

Westlake

Chemical

Corp

3

.600

08/15/26

464,964‌

1,000,000

Westlake

Chemical

Corp

3

.375

06/15/30

847,710‌

500,000

Westlake

Chemical

Corp

2

.875

08/15/41

316,762‌

500,000

Westlake

Chemical

Corp

5

.000

08/15/46

414,294‌

200,000

Westlake

Chemical

Corp

4

.375

11/15/47

151,629‌

500,000

Westlake

Chemical

Corp

3

.125

08/15/51

307,976‌

500,000

Westlake

Chemical

Corp

3

.375

08/15/61

289,087‌

250,000

WRKCo,

Inc

3

.000

09/15/24

238,703‌

425,000

WRKCo,

Inc

3

.750

03/15/25

409,471‌

525,000

WRKCo,

Inc

4

.650

03/15/26

513,486‌

300,000

WRKCo,

Inc

3

.375

09/15/27

271,119‌

325,000

WRKCo,

Inc

4

.000

03/15/28

299,479‌

240,000

WRKCo,

Inc

3

.900

06/01/28

220,457‌

950,000

WRKCo,

Inc

4

.900

03/15/29

908,204‌

685,000

WRKCo,

Inc

4

.200

06/01/32

599,104‌

400,000

WRKCo,

Inc

3

.000

06/15/33

309,489‌

750,000

Yamana

Gold,

Inc

2

.630

08/15/31

554,690‌

TOTAL

MATERIALS

119,184,074‌

MEDIA

&

ENTERTAINMENT

-

1

.1

%

475,000

Activision

Blizzard,

Inc

3

.400

09/15/26

448,250‌

300,000

Activision

Blizzard,

Inc

3

.400

06/15/27

279,646‌

250,000

Activision

Blizzard,

Inc

1

.350

09/15/30

189,734‌

300,000

Activision

Blizzard,

Inc

4

.500

06/15/47

260,805‌

1,100,000

Activision

Blizzard,

Inc

2

.500

09/15/50

664,111‌

1,000,000

AdventHealth

Obligated

Group

2

.795

11/15/51

644,268‌

875,000

Alphabet,

Inc

3

.375

02/25/24

863,827‌

675,000

Alphabet,

Inc

0

.450

08/15/25

605,212‌

1,250,000

Alphabet,

Inc

1

.998

08/15/26

1,140,772‌

1,000,000

Alphabet,

Inc

0

.800

08/15/27

843,471‌

850,000

Alphabet,

Inc

1

.100

08/15/30

657,172‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

92

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MEDIA

&

ENTERTAINMENT—continued

$

1,000,000

Alphabet,

Inc

1

.900

%

08/15/40

$

641,890‌

2,800,000

Alphabet,

Inc

2

.050

08/15/50

1,645,317‌

1,100,000

Alphabet,

Inc

2

.250

08/15/60

618,413‌

1,000,000

American

Assets

Trust

LP

3

.375

02/01/31

794,232‌

700,000

Baidu,

Inc

3

.875

09/29/23

687,925‌

525,000

Baidu,

Inc

4

.375

05/14/24

517,645‌

200,000

e

Baidu,

Inc

3

.075

04/07/25

189,275‌

1,000,000

Baidu,

Inc

1

.720

04/09/26

880,164‌

500,000

Baidu,

Inc

4

.375

03/29/28

464,684‌

500,000

Baidu,

Inc

4

.875

11/14/28

473,631‌

300,000

e

Baidu,

Inc

3

.425

04/07/30

258,386‌

750,000

Baidu,

Inc

2

.375

10/09/30

590,856‌

1,000,000

e

Baidu,

Inc

2

.375

08/23/31

778,766‌

1,000,000

Bain

Capital

Specialty

Finance,

Inc

2

.550

10/13/26

818,896‌

1,000,000

Blackstone

Private

Credit

Fund

4

.700

03/24/25

946,425‌

1,000,000

g

Blackstone

Private

Credit

Fund

7

.050

09/29/25

987,495‌

1,800,000

Blackstone

Private

Credit

Fund

2

.625

12/15/26

1,477,640‌

1,000,000

Blackstone

Private

Credit

Fund

3

.250

03/15/27

827,850‌

1,000,000

Blackstone

Private

Credit

Fund

4

.000

01/15/29

801,050‌

500,000

Broadstone

Net

Lease

LLC

2

.600

09/15/31

368,130‌

1,000,000

Cedars-Sinai

Health

System

2

.288

08/15/31

798,285‌

225,000

Charter

Communications

Operating

LLC

4

.500

02/01/24

222,390‌

3,650,000

Charter

Communications

Operating

LLC

4

.908

07/23/25

3,559,331‌

950,000

Charter

Communications

Operating

LLC

3

.750

02/15/28

839,500‌

2,750,000

Charter

Communications

Operating

LLC

4

.200

03/15/28

2,468,910‌

650,000

Charter

Communications

Operating

LLC

2

.250

01/15/29

508,932‌

2,000,000

Charter

Communications

Operating

LLC

2

.800

04/01/31

1,511,896‌

1,500,000

Charter

Communications

Operating

LLC

2

.300

02/01/32

1,071,133‌

1,000,000

Charter

Communications

Operating

LLC

4

.400

04/01/33

828,067‌

750,000

Charter

Communications

Operating

LLC

6

.384

10/23/35

687,797‌

1,500,000

Charter

Communications

Operating

LLC

5

.375

04/01/38

1,215,453‌

1,500,000

Charter

Communications

Operating

LLC

3

.500

06/01/41

958,557‌

1,000,000

Charter

Communications

Operating

LLC

3

.500

03/01/42

634,511‌

1,550,000

Charter

Communications

Operating

LLC

6

.484

10/23/45

1,364,910‌

1,400,000

Charter

Communications

Operating

LLC

5

.375

05/01/47

1,082,944‌

1,375,000

Charter

Communications

Operating

LLC

5

.750

04/01/48

1,109,776‌

1,600,000

Charter

Communications

Operating

LLC

5

.125

07/01/49

1,172,859‌

2,500,000

Charter

Communications

Operating

LLC

4

.800

03/01/50

1,803,474‌

2,500,000

Charter

Communications

Operating

LLC

3

.700

04/01/51

1,515,125‌

3,000,000

Charter

Communications

Operating

LLC

3

.900

06/01/52

1,857,335‌

500,000

Charter

Communications

Operating

LLC

5

.250

04/01/53

382,878‌

2,000,000

Charter

Communications

Operating

LLC

3

.850

04/01/61

1,167,602‌

1,500,000

Charter

Communications

Operating

LLC

4

.400

12/01/61

955,609‌

1,000,000

Charter

Communications

Operating

LLC

3

.950

06/30/62

592,993‌

500,000

Charter

Communications

Operating

LLC

5

.500

04/01/63

377,754‌

1,000,000

Cleco

Securitization

I

LLC

4

.646

09/01/42

943,115‌

2,025,000

Comcast

Corp

3

.700

04/15/24

1,991,567‌

850,000

Comcast

Corp

3

.375

02/15/25

820,803‌

350,000

Comcast

Corp

3

.375

08/15/25

335,960‌

1,550,000

Comcast

Corp

3

.950

10/15/25

1,505,762‌

1,950,000

Comcast

Corp

3

.150

03/01/26

1,836,958‌

1,025,000

Comcast

Corp

2

.350

01/15/27

919,189‌

1,450,000

Comcast

Corp

3

.300

02/01/27

1,347,989‌

900,000

Comcast

Corp

3

.150

02/15/28

815,991‌

2,675,000

Comcast

Corp

4

.150

10/15/28

2,526,439‌

5,000,000

Comcast

Corp

3

.400

04/01/30

4,397,587‌

3,300,000

Comcast

Corp

4

.250

10/15/30

3,055,408‌

1,950,000

Comcast

Corp

1

.950

01/15/31

1,515,707‌

3,850,000

Comcast

Corp

1

.500

02/15/31

2,890,073‌

1,925,000

Comcast

Corp

4

.250

01/15/33

1,743,465‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

93

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MEDIA

&

ENTERTAINMENT—continued

$

150,000

Comcast

Corp

7

.050

%

03/15/33

$

164,491‌

200,000

Comcast

Corp

4

.200

08/15/34

175,188‌

500,000

Comcast

Corp

4

.400

08/15/35

441,963‌

36,000

Comcast

Corp

6

.500

11/15/35

38,400‌

3,475,000

Comcast

Corp

3

.200

07/15/36

2,686,945‌

3,150,000

Comcast

Corp

3

.900

03/01/38

2,567,870‌

1,000,000

Comcast

Corp

3

.250

11/01/39

734,469‌

3,800,000

Comcast

Corp

3

.750

04/01/40

2,987,230‌

1,275,000

Comcast

Corp

3

.400

07/15/46

899,649‌

631,000

Comcast

Corp

3

.969

11/01/47

482,466‌

1,500,000

Comcast

Corp

4

.000

03/01/48

1,154,437‌

1,407,000

Comcast

Corp

3

.999

11/01/49

1,078,135‌

2,525,000

Comcast

Corp

3

.450

02/01/50

1,763,260‌

425,000

Comcast

Corp

2

.800

01/15/51

260,329‌

2,237,000

Comcast

Corp

2

.887

11/01/51

1,400,879‌

1,050,000

e

Comcast

Corp

2

.450

08/15/52

595,272‌

4,708,000

Comcast

Corp

2

.937

11/01/56

2,810,085‌

850,000

Comcast

Corp

2

.650

08/15/62

458,127‌

6,758,000

Comcast

Corp

2

.987

11/01/63

3,914,205‌

300,000

Discovery

Communications

LLC

3

.800

03/13/24

292,846‌

200,000

Discovery

Communications

LLC

3

.900

11/15/24

194,437‌

350,000

Discovery

Communications

LLC

3

.450

03/15/25

331,867‌

200,000

Discovery

Communications

LLC

3

.950

06/15/25

190,046‌

500,000

Discovery

Communications

LLC

4

.900

03/11/26

483,760‌

2,275,000

Discovery

Communications

LLC

3

.950

03/20/28

1,994,248‌

1,000,000

Discovery

Communications

LLC

4

.125

05/15/29

856,044‌

250,000

Discovery

Communications

LLC

3

.625

05/15/30

205,310‌

1,400,000

Discovery

Communications

LLC

5

.200

09/20/47

1,033,258‌

1,400,000

Discovery

Communications

LLC

5

.300

05/15/49

1,044,724‌

500,000

Discovery

Communications

LLC

4

.650

05/15/50

342,120‌

1,175,000

Discovery

Communications

LLC

4

.000

09/15/55

692,778‌

1,000,000

Electronic

Arts,

Inc

1

.850

02/15/31

770,788‌

1,000,000

Electronic

Arts,

Inc

2

.950

02/15/51

653,350‌

500,000

Fox

Corp

4

.030

01/25/24

493,817‌

500,000

Fox

Corp

3

.050

04/07/25

476,239‌

2,250,000

Fox

Corp

4

.709

01/25/29

2,113,728‌

500,000

Fox

Corp

3

.500

04/08/30

428,824‌

1,500,000

Fox

Corp

5

.476

01/25/39

1,300,884‌

650,000

Fox

Corp

5

.576

01/25/49

555,860‌

200,000

Grupo

Televisa

SAB

4

.625

01/30/26

193,450‌

1,100,000

Grupo

Televisa

SAB

5

.000

05/13/45

929,251‌

700,000

Grupo

Televisa

SAB

6

.125

01/31/46

689,728‌

500,000

e

Grupo

Televisa

SAB

5

.250

05/24/49

434,257‌

100,000

Interpublic

Group

of

Cos,

Inc

4

.200

04/15/24

97,928‌

350,000

Interpublic

Group

of

Cos,

Inc

4

.650

10/01/28

323,650‌

500,000

Interpublic

Group

of

Cos,

Inc

4

.750

03/30/30

457,028‌

1,000,000

Interpublic

Group

of

Cos,

Inc

2

.400

03/01/31

759,432‌

1,000,000

Interpublic

Group

of

Cos,

Inc

3

.375

03/01/41

661,481‌

400,000

Interpublic

Group

of

Cos,

Inc

5

.400

10/01/48

349,380‌

445,000

Iowa

Health

System

3

.665

02/15/50

333,416‌

2,000,000

g

Magallanes,

Inc

3

.638

03/15/25

1,894,044‌

7,000,000

g

Magallanes,

Inc

3

.755

03/15/27

6,262,932‌

3,325,000

g

Magallanes,

Inc

4

.054

03/15/29

2,871,762‌

2,625,000

g

Magallanes,

Inc

4

.279

03/15/32

2,159,542‌

2,750,000

g

Magallanes,

Inc

5

.050

03/15/42

2,057,671‌

2,850,000

g

Magallanes,

Inc

5

.141

03/15/52

2,071,433‌

1,475,000

g

Magallanes,

Inc

5

.391

03/15/62

1,069,244‌

135,000

MedStar

Health,

Inc

3

.626

08/15/49

98,306‌

2,500,000

g

Meta

Platforms,

Inc

3

.500

08/15/27

2,337,783‌

2,500,000

g

Meta

Platforms,

Inc

3

.850

08/15/32

2,197,818‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

94

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MEDIA

&

ENTERTAINMENT—continued

$

2,500,000

g

Meta

Platforms,

Inc

4

.450

%

08/15/52

$

2,040,205‌

2,500,000

g

Meta

Platforms,

Inc

4

.650

08/15/62

2,013,939‌

1,000,000

Morgan

Stanley

Direct

Lending

Fund

4

.500

02/11/27

887,226‌

870,000

NBC

Universal

Media

LLC

4

.450

01/15/43

722,237‌

1,000,000

Northwestern

Memorial

Healthcare

Obligated

Group

2

.633

07/15/51

620,949‌

425,000

Omnicom

Group,

Inc

3

.650

11/01/24

414,231‌

1,050,000

Omnicom

Group,

Inc

3

.600

04/15/26

994,538‌

750,000

Omnicom

Group,

Inc

2

.450

04/30/30

602,046‌

325,000

Omnicom

Group,

Inc

4

.200

06/01/30

294,989‌

700,000

Omnicom

Group,

Inc

2

.600

08/01/31

549,523‌

1,000,000

Owl

Rock

Capital

Corp

III

3

.125

04/13/27

811,013‌

1,000,000

Owl

Rock

Technology

Finance

Corp

2

.500

01/15/27

802,322‌

200,000

Paramount

Global

3

.375

02/15/28

177,011‌

1,000,000

Phillips

Edison

Grocery

Center

Operating

Partnership

I

LP

2

.625

11/15/31

725,986‌

1,000,000

Rayonier

LP

2

.750

05/17/31

779,809‌

1,000,000

Rexford

Industrial

Realty

LP

2

.125

12/01/30

763,527‌

1,000,000

Safehold

Operating

Partnership

LP

2

.800

06/15/31

751,487‌

425,000

Sentara

Healthcare

2

.927

11/01/51

280,037‌

1,000,000

STERIS

Irish

FinCo

UnLtd

Co

2

.700

03/15/31

785,857‌

1,000,000

STERIS

Irish

FinCo

UnLtd

Co

3

.750

03/15/51

689,817‌

1,000,000

Take-Two

Interactive

Software,

Inc

3

.550

04/14/25

959,488‌

375,000

Take-Two

Interactive

Software,

Inc

3

.700

04/14/27

348,129‌

1,000,000

Take-Two

Interactive

Software,

Inc

4

.000

04/14/32

868,451‌

500,000

Tencent

Music

Entertainment

Group

1

.375

09/03/25

442,993‌

750,000

Tencent

Music

Entertainment

Group

2

.000

09/03/30

544,853‌

1,075,000

Time

Warner

Cable

LLC

6

.550

05/01/37

969,962‌

400,000

Time

Warner

Cable

LLC

7

.300

07/01/38

380,391‌

500,000

Time

Warner

Cable

LLC

6

.750

06/15/39

446,948‌

890,000

Time

Warner

Cable

LLC

5

.875

11/15/40

732,660‌

475,000

Time

Warner

Cable

LLC

5

.500

09/01/41

372,835‌

2,875,000

Time

Warner

Cable

LLC

4

.500

09/15/42

1,984,918‌

325,000

Time

Warner

Entertainment

Co

LP

8

.375

03/15/23

329,514‌

300,000

Time

Warner

Entertainment

Co

LP

8

.375

07/15/33

320,027‌

800,000

ViacomCBS,

Inc

4

.000

01/15/26

755,430‌

650,000

ViacomCBS,

Inc

2

.900

01/15/27

578,799‌

1,300,000

ViacomCBS,

Inc

3

.700

06/01/28

1,158,922‌

500,000

ViacomCBS,

Inc

4

.200

06/01/29

440,843‌

500,000

ViacomCBS,

Inc

7

.875

07/30/30

528,331‌

500,000

ViacomCBS,

Inc

4

.950

01/15/31

441,067‌

1,500,000

ViacomCBS,

Inc

4

.200

05/19/32

1,216,214‌

150,000

ViacomCBS,

Inc

6

.875

04/30/36

140,409‌

200,000

ViacomCBS,

Inc

4

.850

07/01/42

146,170‌

2,179,000

ViacomCBS,

Inc

4

.375

03/15/43

1,451,969‌

625,000

ViacomCBS,

Inc

5

.850

09/01/43

498,256‌

200,000

ViacomCBS,

Inc

4

.900

08/15/44

140,608‌

800,000

ViacomCBS,

Inc

4

.600

01/15/45

539,508‌

1,000,000

ViacomCBS,

Inc

4

.950

05/19/50

710,651‌

1,000,000

Walt

Disney

Co

3

.350

03/24/25

965,580‌

875,000

Walt

Disney

Co

3

.150

09/17/25

834,874‌

700,000

Walt

Disney

Co

3

.700

10/15/25

680,327‌

8,000,000

Walt

Disney

Co

1

.750

01/13/26

7,242,540‌

500,000

Walt

Disney

Co

3

.000

02/13/26

468,733‌

475,000

Walt

Disney

Co

1

.850

07/30/26

423,408‌

1,500,000

e

Walt

Disney

Co

2

.950

06/15/27

1,371,830‌

3,000,000

e

Walt

Disney

Co

2

.200

01/13/28

2,612,093‌

425,000

Walt

Disney

Co

2

.000

09/01/29

347,333‌

500,000

Walt

Disney

Co

3

.800

03/22/30

454,615‌

1,000,000

Walt

Disney

Co

2

.650

01/13/31

827,440‌

229,000

Walt

Disney

Co

6

.400

12/15/35

243,332‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

95

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MEDIA

&

ENTERTAINMENT—continued

$

325,000

Walt

Disney

Co

6

.650

%

11/15/37

$

354,499‌

1,000,000

Walt

Disney

Co

3

.500

05/13/40

772,244‌

1,425,000

Walt

Disney

Co

6

.150

02/15/41

1,485,551‌

100,000

Walt

Disney

Co

4

.375

08/16/41

86,304‌

200,000

Walt

Disney

Co

3

.700

12/01/42

155,021‌

225,000

Walt

Disney

Co

5

.400

10/01/43

215,221‌

1,275,000

e

Walt

Disney

Co

4

.125

06/01/44

1,042,875‌

500,000

Walt

Disney

Co

4

.750

09/15/44

446,414‌

300,000

Walt

Disney

Co

4

.950

10/15/45

271,235‌

100,000

Walt

Disney

Co

3

.000

07/30/46

68,043‌

700,000

Walt

Disney

Co

4

.750

11/15/46

620,790‌

1,600,000

Walt

Disney

Co

2

.750

09/01/49

1,015,131‌

3,625,000

e

Walt

Disney

Co

4

.700

03/23/50

3,222,750‌

2,000,000

Walt

Disney

Co

3

.600

01/13/51

1,482,424‌

1,000,000

Walt

Disney

Co

3

.800

05/13/60

737,556‌

375,000

Weibo

Corp

3

.500

07/05/24

358,537‌

900,000

Weibo

Corp

3

.375

07/08/30

660,650‌

1,500,000

WPP

Finance

2010

3

.750

09/19/24

1,454,623‌

TOTAL

MEDIA

&

ENTERTAINMENT

208,094,904‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

1

.2

%

1,850,000

AbbVie,

Inc

3

.750

11/14/23

1,829,204‌

3,350,000

AbbVie,

Inc

3

.800

03/15/25

3,244,489‌

1,575,000

AbbVie,

Inc

3

.600

05/14/25

1,511,794‌

4,150,000

AbbVie,

Inc

3

.200

05/14/26

3,879,318‌

2,500,000

AbbVie,

Inc

2

.950

11/21/26

2,290,396‌

6,750,000

AbbVie,

Inc

3

.200

11/21/29

5,909,444‌

2,250,000

AbbVie,

Inc

4

.550

03/15/35

2,018,454‌

1,925,000

AbbVie,

Inc

4

.500

05/14/35

1,712,571‌

675,000

AbbVie,

Inc

4

.300

05/14/36

585,397‌

3,300,000

AbbVie,

Inc

4

.050

11/21/39

2,654,570‌

2,175,000

AbbVie,

Inc

4

.400

11/06/42

1,806,235‌

1,625,000

AbbVie,

Inc

4

.850

06/15/44

1,410,640‌

1,310,000

AbbVie,

Inc

4

.750

03/15/45

1,124,581‌

925,000

AbbVie,

Inc

4

.700

05/14/45

782,382‌

1,350,000

AbbVie,

Inc

4

.450

05/14/46

1,097,140‌

1,150,000

AbbVie,

Inc

4

.875

11/14/48

1,011,157‌

3,975,000

AbbVie,

Inc

4

.250

11/21/49

3,191,000‌

200,000

Agilent

Technologies,

Inc

3

.050

09/22/26

184,030‌

500,000

Agilent

Technologies,

Inc

2

.750

09/15/29

420,028‌

1,000,000

Agilent

Technologies,

Inc

2

.100

06/04/30

784,088‌

1,000,000

Agilent

Technologies,

Inc

2

.300

03/12/31

780,087‌

950,000

Amgen,

Inc

3

.625

05/22/24

933,306‌

775,000

Amgen,

Inc

3

.125

05/01/25

742,647‌

1,225,000

e

Amgen,

Inc

2

.600

08/19/26

1,122,161‌

3,250,000

Amgen,

Inc

2

.200

02/21/27

2,885,739‌

775,000

Amgen,

Inc

3

.200

11/02/27

710,781‌

1,500,000

Amgen,

Inc

1

.650

08/15/28

1,236,920‌

1,000,000

Amgen,

Inc

4

.050

08/18/29

920,189‌

1,000,000

Amgen,

Inc

2

.450

02/21/30

825,193‌

500,000

Amgen,

Inc

2

.300

02/25/31

397,638‌

850,000

e

Amgen,

Inc

3

.350

02/22/32

725,182‌

1,000,000

Amgen,

Inc

4

.200

03/01/33

905,642‌

1,325,000

Amgen,

Inc

3

.150

02/21/40

955,697‌

1,500,000

Amgen,

Inc

2

.800

08/15/41

1,023,825‌

126,000

Amgen,

Inc

5

.150

11/15/41

115,119‌

2,675,000

Amgen,

Inc

4

.400

05/01/45

2,183,944‌

2,128,000

Amgen,

Inc

4

.563

06/15/48

1,774,419‌

2,575,000

Amgen,

Inc

3

.375

02/21/50

1,752,416‌

2,447,000

Amgen,

Inc

4

.663

06/15/51

2,056,078‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

96

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

$

1,000,000

Amgen,

Inc

3

.000

%

01/15/52

$

625,117‌

1,000,000

Amgen,

Inc

4

.200

02/22/52

783,899‌

1,000,000

Amgen,

Inc

4

.875

03/01/53

879,710‌

172,000

Amgen,

Inc

2

.770

09/01/53

100,216‌

1,000,000

Amgen,

Inc

4

.400

02/22/62

781,270‌

2,000,000

AstraZeneca

Finance

LLC

1

.200

05/28/26

1,752,396‌

2,000,000

AstraZeneca

Finance

LLC

1

.750

05/28/28

1,680,886‌

350,000

AstraZeneca

plc

3

.375

11/16/25

333,832‌

1,000,000

AstraZeneca

plc

0

.700

04/08/26

864,157‌

950,000

AstraZeneca

plc

3

.125

06/12/27

880,212‌

1,700,000

AstraZeneca

plc

4

.000

01/17/29

1,607,136‌

1,000,000

AstraZeneca

plc

1

.375

08/06/30

771,784‌

1,900,000

AstraZeneca

plc

6

.450

09/15/37

2,050,566‌

625,000

AstraZeneca

plc

4

.000

09/18/42

522,831‌

500,000

AstraZeneca

plc

4

.375

11/16/45

434,263‌

750,000

AstraZeneca

plc

4

.375

08/17/48

654,660‌

600,000

AstraZeneca

plc

2

.125

08/06/50

345,429‌

1,500,000

AstraZeneca

plc

3

.000

05/28/51

1,039,722‌

449,000

Baxalta,

Inc

4

.000

06/23/25

435,610‌

149,000

Baxalta,

Inc

5

.250

06/23/45

136,916‌

875,000

Biogen,

Inc

4

.050

09/15/25

849,299‌

300,000

Biogen,

Inc

2

.250

05/01/30

236,241‌

1,375,000

Biogen,

Inc

3

.150

05/01/50

885,875‌

1,346,000

Biogen,

Inc

3

.250

02/15/51

870,658‌

200,000

Bristol-Myers

Squibb

Co

3

.250

11/01/23

197,875‌

5,350,000

Bristol-Myers

Squibb

Co

2

.900

07/26/24

5,188,687‌

1,000,000

Bristol-Myers

Squibb

Co

0

.750

11/13/25

887,478‌

1,000,000

Bristol-Myers

Squibb

Co

1

.125

11/13/27

835,346‌

1,275,000

Bristol-Myers

Squibb

Co

3

.900

02/20/28

1,214,271‌

874,000

Bristol-Myers

Squibb

Co

3

.400

07/26/29

792,497‌

1,150,000

Bristol-Myers

Squibb

Co

1

.450

11/13/30

886,859‌

1,400,000

Bristol-Myers

Squibb

Co

2

.950

03/15/32

1,196,028‌

1,700,000

Bristol-Myers

Squibb

Co

4

.125

06/15/39

1,485,782‌

125,000

Bristol-Myers

Squibb

Co

2

.350

11/13/40

83,435‌

375,000

Bristol-Myers

Squibb

Co

3

.550

03/15/42

293,375‌

650,000

Bristol-Myers

Squibb

Co

3

.250

08/01/42

483,812‌

500,000

Bristol-Myers

Squibb

Co

4

.350

11/15/47

426,989‌

1,786,000

Bristol-Myers

Squibb

Co

4

.550

02/20/48

1,571,536‌

2,400,000

Bristol-Myers

Squibb

Co

4

.250

10/26/49

2,007,009‌

1,500,000

Bristol-Myers

Squibb

Co

2

.550

11/13/50

924,208‌

575,000

Bristol-Myers

Squibb

Co

3

.700

03/15/52

440,128‌

1,000,000

Bristol-Myers

Squibb

Co

3

.900

03/15/62

754,591‌

200,000

Danaher

Corp

3

.350

09/15/25

191,762‌

200,000

Danaher

Corp

4

.375

09/15/45

166,732‌

400,000

Danaher

Corp

2

.600

10/01/50

245,985‌

750,000

Danaher

Corp

2

.800

12/10/51

482,506‌

975,000

Eli

Lilly

&

Co

2

.750

06/01/25

933,145‌

950,000

Eli

Lilly

&

Co

3

.100

05/15/27

900,735‌

1,300,000

Eli

Lilly

&

Co

2

.250

05/15/50

804,178‌

750,000

Eli

Lilly

&

Co

2

.500

09/15/60

443,609‌

638,000

Gilead

Sciences,

Inc

0

.750

09/29/23

612,333‌

800,000

Gilead

Sciences,

Inc

3

.700

04/01/24

787,445‌

575,000

Gilead

Sciences,

Inc

3

.500

02/01/25

554,608‌

1,125,000

Gilead

Sciences,

Inc

3

.650

03/01/26

1,069,343‌

525,000

Gilead

Sciences,

Inc

2

.950

03/01/27

478,601‌

5,815,000

Gilead

Sciences,

Inc

1

.650

10/01/30

4,458,888‌

450,000

Gilead

Sciences,

Inc

4

.600

09/01/35

406,730‌

1,300,000

Gilead

Sciences,

Inc

4

.000

09/01/36

1,080,361‌

325,000

Gilead

Sciences,

Inc

2

.600

10/01/40

214,615‌

250,000

Gilead

Sciences,

Inc

5

.650

12/01/41

243,783‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

97

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

$

1,025,000

Gilead

Sciences,

Inc

4

.800

%

04/01/44

$

891,297‌

950,000

Gilead

Sciences,

Inc

4

.500

02/01/45

785,959‌

925,000

Gilead

Sciences,

Inc

4

.750

03/01/46

805,040‌

1,525,000

Gilead

Sciences,

Inc

4

.150

03/01/47

1,210,406‌

2,600,000

Gilead

Sciences,

Inc

2

.800

10/01/50

1,605,672‌

1,550,000

GlaxoSmithKline

Capital

plc

0

.534

10/01/23

1,487,465‌

2,900,000

GlaxoSmithKline

Capital

plc

3

.375

06/01/29

2,638,181‌

950,000

GlaxoSmithKline

Capital,

Inc

3

.625

05/15/25

923,878‌

925,000

GlaxoSmithKline

Capital,

Inc

3

.875

05/15/28

869,508‌

350,000

GlaxoSmithKline

Capital,

Inc

5

.375

04/15/34

349,002‌

1,243,000

GlaxoSmithKline

Capital,

Inc

6

.375

05/15/38

1,352,630‌

850,000

GlaxoSmithKline

Capital,

Inc

4

.200

03/18/43

711,687‌

1,500,000

Illumina,

Inc

2

.550

03/23/31

1,149,548‌

950,000

Johnson

&

Johnson

3

.375

12/05/23

944,150‌

2,000,000

Johnson

&

Johnson

0

.550

09/01/25

1,785,774‌

1,000,000

Johnson

&

Johnson

2

.450

03/01/26

933,532‌

2,000,000

Johnson

&

Johnson

0

.950

09/01/27

1,692,642‌

2,000,000

Johnson

&

Johnson

1

.300

09/01/30

1,591,111‌

1,000,000

Johnson

&

Johnson

4

.375

12/05/33

963,301‌

250,000

Johnson

&

Johnson

3

.550

03/01/36

214,914‌

450,000

Johnson

&

Johnson

3

.625

03/03/37

389,052‌

250,000

Johnson

&

Johnson

5

.950

08/15/37

268,740‌

675,000

Johnson

&

Johnson

3

.400

01/15/38

561,281‌

375,000

Johnson

&

Johnson

5

.850

07/15/38

400,618‌

1,000,000

Johnson

&

Johnson

2

.100

09/01/40

665,287‌

300,000

Johnson

&

Johnson

4

.500

12/05/43

275,129‌

1,200,000

Johnson

&

Johnson

3

.700

03/01/46

981,594‌

1,625,000

Johnson

&

Johnson

3

.750

03/03/47

1,331,180‌

2,100,000

Johnson

&

Johnson

3

.500

01/15/48

1,665,647‌

500,000

Johnson

&

Johnson

2

.250

09/01/50

308,280‌

1,000,000

Johnson

&

Johnson

2

.450

09/01/60

584,628‌

1,450,000

Merck

&

Co,

Inc

2

.750

02/10/25

1,390,071‌

2,875,000

Merck

&

Co,

Inc

0

.750

02/24/26

2,520,365‌

2,000,000

Merck

&

Co,

Inc

1

.700

06/10/27

1,746,061‌

1,500,000

Merck

&

Co,

Inc

1

.900

12/10/28

1,258,199‌

3,175,000

Merck

&

Co,

Inc

1

.450

06/24/30

2,482,821‌

1,150,000

Merck

&

Co,

Inc

2

.150

12/10/31

927,513‌

1,475,000

Merck

&

Co,

Inc

3

.900

03/07/39

1,254,604‌

425,000

Merck

&

Co,

Inc

2

.350

06/24/40

285,474‌

100,000

Merck

&

Co,

Inc

3

.600

09/15/42

78,553‌

925,000

Merck

&

Co,

Inc

4

.150

05/18/43

784,158‌

1,825,000

Merck

&

Co,

Inc

3

.700

02/10/45

1,432,212‌

1,600,000

Merck

&

Co,

Inc

4

.000

03/07/49

1,320,095‌

375,000

Merck

&

Co,

Inc

2

.450

06/24/50

230,762‌

625,000

Merck

&

Co,

Inc

2

.750

12/10/51

407,054‌

1,100,000

Merck

&

Co,

Inc

2

.900

12/10/61

689,100‌

2,800,000

Mylan

NV

3

.950

06/15/26

2,552,712‌

750,000

Mylan

NV

5

.250

06/15/46

529,189‌

500,000

Mylan,

Inc

4

.550

04/15/28

441,644‌

700,000

Mylan,

Inc

5

.200

04/15/48

481,715‌

725,000

Novartis

Capital

Corp

3

.000

11/20/25

689,321‌

3,500,000

e

Novartis

Capital

Corp

2

.000

02/14/27

3,139,571‌

1,300,000

Novartis

Capital

Corp

3

.100

05/17/27

1,219,567‌

1,000,000

Novartis

Capital

Corp

2

.200

08/14/30

834,203‌

400,000

Novartis

Capital

Corp

3

.700

09/21/42

327,199‌

1,025,000

Novartis

Capital

Corp

4

.400

05/06/44

919,877‌

1,000,000

Novartis

Capital

Corp

4

.000

11/20/45

844,220‌

750,000

Novartis

Capital

Corp

2

.750

08/14/50

506,578‌

500,000

PerkinElmer,

Inc

3

.300

09/15/29

420,726‌

1,000,000

PerkinElmer,

Inc

2

.550

03/15/31

776,472‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

98

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

$

300,000

PerkinElmer,

Inc

2

.250

%

09/15/31

$

225,586‌

1,000,000

PerkinElmer,

Inc

3

.625

03/15/51

674,846‌

1,175,000

Pfizer,

Inc

3

.400

05/15/24

1,153,975‌

3,000,000

Pfizer,

Inc

0

.800

05/28/25

2,724,114‌

350,000

Pfizer,

Inc

2

.750

06/03/26

329,190‌

2,850,000

Pfizer,

Inc

3

.000

12/15/26

2,678,332‌

950,000

Pfizer,

Inc

3

.600

09/15/28

890,799‌

1,550,000

Pfizer,

Inc

3

.450

03/15/29

1,427,301‌

3,000,000

Pfizer,

Inc

1

.750

08/18/31

2,341,256‌

425,000

Pfizer,

Inc

4

.000

12/15/36

375,746‌

500,000

Pfizer,

Inc

4

.100

09/15/38

435,674‌

875,000

Pfizer,

Inc

3

.900

03/15/39

750,238‌

350,000

Pfizer,

Inc

7

.200

03/15/39

415,926‌

1,250,000

Pfizer,

Inc

2

.550

05/28/40

880,089‌

625,000

Pfizer,

Inc

4

.300

06/15/43

550,436‌

1,100,000

Pfizer,

Inc

4

.400

05/15/44

980,385‌

1,875,000

Pfizer,

Inc

4

.125

12/15/46

1,629,894‌

1,200,000

Pfizer,

Inc

4

.200

09/15/48

1,054,386‌

2,100,000

Pfizer,

Inc

4

.000

03/15/49

1,793,493‌

1,000,000

e

Pfizer,

Inc

2

.700

05/28/50

675,608‌

1,000,000

Regeneron

Pharmaceuticals,

Inc

1

.750

09/15/30

756,858‌

500,000

Regeneron

Pharmaceuticals,

Inc

2

.800

09/15/50

302,134‌

1,000,000

Royalty

Pharma

plc

0

.750

09/02/23

957,579‌

1,000,000

Royalty

Pharma

plc

1

.200

09/02/25

883,995‌

1,000,000

Royalty

Pharma

plc

1

.750

09/02/27

826,381‌

375,000

Royalty

Pharma

plc

2

.200

09/02/30

285,826‌

1,000,000

Royalty

Pharma

plc

3

.300

09/02/40

670,853‌

1,000,000

Royalty

Pharma

plc

3

.550

09/02/50

623,187‌

1,000,000

Royalty

Pharma

plc

3

.350

09/02/51

602,967‌

500,000

Sanofi

3

.625

06/19/28

464,472‌

1,000,000

Takeda

Pharmaceutical

Co

Ltd

4

.400

11/26/23

993,542‌

2,100,000

Takeda

Pharmaceutical

Co

Ltd

5

.000

11/26/28

2,032,861‌

700,000

Takeda

Pharmaceutical

Co

Ltd

2

.050

03/31/30

553,340‌

2,050,000

Takeda

Pharmaceutical

Co

Ltd

3

.025

07/09/40

1,450,643‌

1,150,000

Takeda

Pharmaceutical

Co

Ltd

3

.175

07/09/50

762,909‌

1,000,000

Takeda

Pharmaceutical

Co

Ltd

3

.375

07/09/60

647,948‌

3,000,000

Thermo

Fisher

Scientific,

Inc

1

.215

10/18/24

2,789,889‌

1,000,000

Thermo

Fisher

Scientific,

Inc

1

.750

10/15/28

836,387‌

1,500,000

Thermo

Fisher

Scientific,

Inc

2

.600

10/01/29

1,291,820‌

275,000

Thermo

Fisher

Scientific,

Inc

2

.000

10/15/31

216,776‌

1,500,000

Thermo

Fisher

Scientific,

Inc

2

.800

10/15/41

1,049,197‌

200,000

Thermo

Fisher

Scientific,

Inc

5

.300

02/01/44

195,929‌

200,000

Thermo

Fisher

Scientific,

Inc

4

.100

08/15/47

168,889‌

1,000,000

Viatris,

Inc

1

.650

06/22/25

888,989‌

400,000

Viatris,

Inc

2

.300

06/22/27

326,596‌

375,000

Viatris,

Inc

2

.700

06/22/30

278,630‌

600,000

Viatris,

Inc

3

.850

06/22/40

374,074‌

1,950,000

Viatris,

Inc

4

.000

06/22/50

1,167,254‌

1,000,000

Wyeth

LLC

6

.450

02/01/24

1,021,066‌

150,000

Wyeth

LLC

6

.500

02/01/34

165,100‌

275,000

Wyeth

LLC

5

.950

04/01/37

289,381‌

300,000

Zoetis,

Inc

4

.500

11/13/25

295,192‌

425,000

Zoetis,

Inc

3

.000

09/12/27

382,084‌

500,000

Zoetis,

Inc

3

.900

08/20/28

462,949‌

900,000

Zoetis,

Inc

4

.700

02/01/43

787,816‌

650,000

Zoetis,

Inc

3

.950

09/12/47

508,841‌

200,000

Zoetis,

Inc

4

.450

08/20/48

168,921‌

375,000

Zoetis,

Inc

3

.000

05/15/50

245,824‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

222,303,393‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

99

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE

-

0

.9

%

$

550,000

Agree

LP

2

.000

%

06/15/28

$

443,244‌

150,000

Agree

LP

2

.900

10/01/30

119,840‌

200,000

Agree

LP

4

.800

10/01/32

178,298‌

500,000

Agree

LP

2

.600

06/15/33

364,319‌

100,000

Alexandria

Real

Estate

Equities,

Inc

3

.450

04/30/25

95,859‌

200,000

Alexandria

Real

Estate

Equities,

Inc

4

.300

01/15/26

194,076‌

500,000

Alexandria

Real

Estate

Equities,

Inc

3

.800

04/15/26

475,346‌

200,000

Alexandria

Real

Estate

Equities,

Inc

4

.500

07/30/29

185,749‌

425,000

Alexandria

Real

Estate

Equities,

Inc

2

.750

12/15/29

351,838‌

100,000

Alexandria

Real

Estate

Equities,

Inc

4

.700

07/01/30

93,416‌

275,000

Alexandria

Real

Estate

Equities,

Inc

3

.375

08/15/31

230,815‌

1,500,000

Alexandria

Real

Estate

Equities,

Inc

2

.000

05/18/32

1,102,289‌

450,000

Alexandria

Real

Estate

Equities,

Inc

1

.875

02/01/33

316,274‌

800,000

Alexandria

Real

Estate

Equities,

Inc

2

.950

03/15/34

618,543‌

500,000

Alexandria

Real

Estate

Equities,

Inc

4

.850

04/15/49

418,691‌

700,000

Alexandria

Real

Estate

Equities,

Inc

4

.000

02/01/50

521,833‌

1,000,000

Alexandria

Real

Estate

Equities,

Inc

3

.000

05/18/51

606,850‌

1,500,000

Alexandria

Real

Estate

Equities,

Inc

3

.550

03/15/52

1,015,154‌

500,000

American

Homes

4

Rent

LP

4

.900

02/15/29

468,802‌

250,000

American

Homes

4

Rent

LP

2

.375

07/15/31

188,496‌

750,000

American

Homes

4

Rent

LP

3

.625

04/15/32

618,574‌

250,000

American

Homes

4

Rent

LP

3

.375

07/15/51

153,942‌

500,000

American

Homes

4

Rent

LP

4

.300

04/15/52

366,439‌

1,500,000

American

Tower

Corp

0

.600

01/15/24

1,414,859‌

450,000

American

Tower

Corp

5

.000

02/15/24

449,749‌

350,000

American

Tower

Corp

3

.375

05/15/24

340,769‌

750,000

American

Tower

Corp

2

.400

03/15/25

696,244‌

525,000

American

Tower

Corp

4

.000

06/01/25

505,649‌

1,350,000

American

Tower

Corp

1

.300

09/15/25

1,197,240‌

200,000

American

Tower

Corp

4

.400

02/15/26

194,440‌

1,000,000

American

Tower

Corp

1

.600

04/15/26

871,650‌

1,000,000

American

Tower

Corp

1

.450

09/15/26

852,490‌

425,000

American

Tower

Corp

3

.375

10/15/26

388,338‌

750,000

American

Tower

Corp

2

.750

01/15/27

663,220‌

500,000

American

Tower

Corp

3

.125

01/15/27

449,117‌

500,000

American

Tower

Corp

3

.650

03/15/27

457,342‌

150,000

American

Tower

Corp

3

.550

07/15/27

135,411‌

500,000

American

Tower

Corp

3

.600

01/15/28

443,658‌

875,000

American

Tower

Corp

1

.500

01/31/28

699,593‌

350,000

American

Tower

Corp

3

.950

03/15/29

312,178‌

750,000

American

Tower

Corp

2

.900

01/15/30

616,506‌

750,000

American

Tower

Corp

2

.100

06/15/30

574,490‌

725,000

American

Tower

Corp

1

.875

10/15/30

536,519‌

1,000,000

American

Tower

Corp

2

.700

04/15/31

784,710‌

1,000,000

American

Tower

Corp

2

.300

09/15/31

748,436‌

500,000

American

Tower

Corp

4

.050

03/15/32

430,823‌

1,350,000

American

Tower

Corp

3

.700

10/15/49

922,693‌

425,000

American

Tower

Corp

3

.100

06/15/50

264,638‌

1,275,000

American

Tower

Corp

2

.950

01/15/51

765,418‌

200,000

AvalonBay

Communities,

Inc

3

.500

11/15/24

194,652‌

200,000

AvalonBay

Communities,

Inc

2

.950

05/11/26

184,905‌

100,000

AvalonBay

Communities,

Inc

2

.900

10/15/26

91,917‌

1,200,000

AvalonBay

Communities,

Inc

3

.350

05/15/27

1,100,735‌

200,000

AvalonBay

Communities,

Inc

3

.200

01/15/28

181,728‌

500,000

AvalonBay

Communities,

Inc

1

.900

12/01/28

410,476‌

750,000

AvalonBay

Communities,

Inc

3

.300

06/01/29

667,599‌

750,000

AvalonBay

Communities,

Inc

2

.300

03/01/30

617,711‌

800,000

e

AvalonBay

Communities,

Inc

2

.050

01/15/32

621,433‌

400,000

AvalonBay

Communities,

Inc

4

.150

07/01/47

321,256‌

200,000

AvalonBay

Communities,

Inc

4

.350

04/15/48

166,557‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

100

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE—continued

$

425,000

Boston

Properties

LP

3

.125

%

09/01/23

$

417,365‌

200,000

Boston

Properties

LP

3

.800

02/01/24

196,643‌

1,500,000

Boston

Properties

LP

3

.200

01/15/25

1,432,863‌

275,000

Boston

Properties

LP

3

.650

02/01/26

258,726‌

700,000

Boston

Properties

LP

2

.750

10/01/26

629,409‌

550,000

Boston

Properties

LP

4

.500

12/01/28

506,113‌

50,000

Boston

Properties

LP

3

.400

06/21/29

42,366‌

750,000

Boston

Properties

LP

2

.900

03/15/30

603,178‌

1,000,000

Boston

Properties

LP

3

.250

01/30/31

813,672‌

1,000,000

Boston

Properties

LP

2

.550

04/01/32

737,324‌

1,000,000

Boston

Properties

LP

2

.450

10/01/33

703,917‌

100,000

Brandywine

Operating

Partnership

LP

3

.950

02/15/23

99,496‌

500,000

Brandywine

Operating

Partnership

LP

4

.100

10/01/24

482,419‌

100,000

Brandywine

Operating

Partnership

LP

3

.950

11/15/27

88,010‌

500,000

Brandywine

Operating

Partnership

LP

4

.550

10/01/29

445,568‌

900,000

Brixmor

Operating

Partnership

LP

3

.650

06/15/24

869,144‌

200,000

Brixmor

Operating

Partnership

LP

3

.850

02/01/25

192,186‌

225,000

Brixmor

Operating

Partnership

LP

4

.125

06/15/26

210,492‌

300,000

Brixmor

Operating

Partnership

LP

3

.900

03/15/27

272,870‌

100,000

Brixmor

Operating

Partnership

LP

2

.250

04/01/28

80,720‌

600,000

Brixmor

Operating

Partnership

LP

4

.125

05/15/29

521,506‌

940,000

Brixmor

Operating

Partnership

LP

4

.050

07/01/30

791,897‌

100,000

Brixmor

Operating

Partnership

LP

2

.500

08/16/31

72,883‌

200,000

Camden

Property

Trust

2

.950

12/15/22

199,595‌

100,000

Camden

Property

Trust

4

.100

10/15/28

93,526‌

325,000

Camden

Property

Trust

3

.150

07/01/29

283,871‌

100,000

Camden

Property

Trust

2

.800

05/15/30

83,941‌

500,000

Camden

Property

Trust

3

.350

11/01/49

348,222‌

500,000

CBRE

Services,

Inc

4

.875

03/01/26

493,265‌

1,000,000

CBRE

Services,

Inc

2

.500

04/01/31

760,918‌

1,000,000

Corporate

Office

Properties

LP

2

.250

03/15/26

876,462‌

1,000,000

Corporate

Office

Properties

LP

2

.000

01/15/29

752,734‌

175,000

Corporate

Office

Properties

LP

2

.750

04/15/31

128,657‌

500,000

Crown

Castle

International

Corp

3

.200

09/01/24

483,734‌

1,000,000

Crown

Castle

International

Corp

1

.350

07/15/25

897,395‌

975,000

Crown

Castle

International

Corp

4

.450

02/15/26

939,712‌

250,000

Crown

Castle

International

Corp

3

.700

06/15/26

234,806‌

1,500,000

Crown

Castle

International

Corp

1

.050

07/15/26

1,267,048‌

100,000

Crown

Castle

International

Corp

4

.000

03/01/27

93,081‌

525,000

Crown

Castle

International

Corp

3

.650

09/01/27

475,259‌

775,000

Crown

Castle

International

Corp

3

.800

02/15/28

701,233‌

300,000

Crown

Castle

International

Corp

4

.300

02/15/29

275,179‌

500,000

Crown

Castle

International

Corp

3

.100

11/15/29

420,198‌

275,000

Crown

Castle

International

Corp

3

.300

07/01/30

230,266‌

1,050,000

Crown

Castle

International

Corp

2

.250

01/15/31

801,775‌

1,500,000

Crown

Castle

International

Corp

2

.100

04/01/31

1,124,173‌

1,000,000

Crown

Castle

International

Corp

2

.500

07/15/31

770,588‌

1,000,000

Crown

Castle

International

Corp

2

.900

04/01/41

649,249‌

200,000

Crown

Castle

International

Corp

4

.750

05/15/47

163,637‌

300,000

Crown

Castle

International

Corp

5

.200

02/15/49

258,257‌

500,000

Crown

Castle

International

Corp

4

.000

11/15/49

361,895‌

200,000

Crown

Castle

International

Corp

4

.150

07/01/50

148,413‌

875,000

Crown

Castle

International

Corp

3

.250

01/15/51

553,688‌

200,000

CubeSmart

LP

3

.125

09/01/26

183,180‌

600,000

CubeSmart

LP

2

.250

12/15/28

487,143‌

100,000

CubeSmart

LP

4

.375

02/15/29

91,992‌

250,000

CubeSmart

LP

3

.000

02/15/30

207,234‌

450,000

CubeSmart

LP

2

.000

02/15/31

337,392‌

700,000

CubeSmart

LP

2

.500

02/15/32

523,821‌

475,000

Digital

Realty

Trust

LP

3

.700

08/15/27

440,068‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

101

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE—continued

$

1,000,000

Digital

Realty

Trust

LP

5

.550

%

01/15/28

$

991,655‌

300,000

Digital

Realty

Trust

LP

4

.450

07/15/28

280,272‌

1,000,000

e

Digital

Realty

Trust

LP

3

.600

07/01/29

876,715‌

100,000

Duke

Realty

LP

3

.250

06/30/26

92,277‌

1,000,000

Duke

Realty

LP

3

.375

12/15/27

901,323‌

100,000

Duke

Realty

LP

4

.000

09/15/28

92,483‌

225,000

Duke

Realty

LP

2

.875

11/15/29

191,602‌

200,000

Duke

Realty

LP

1

.750

07/01/30

155,768‌

775,000

Duke

Realty

LP

2

.250

01/15/32

602,317‌

500,000

Duke

Realty

LP

3

.050

03/01/50

337,913‌

1,000,000

EPR

Properties

3

.600

11/15/31

714,459‌

525,000

Equinix,

Inc

1

.000

09/15/25

463,062‌

2,000,000

Equinix,

Inc

1

.450

05/15/26

1,731,805‌

650,000

Equinix,

Inc

2

.900

11/18/26

583,106‌

800,000

Equinix,

Inc

1

.550

03/15/28

643,623‌

2,000,000

Equinix,

Inc

2

.000

05/15/28

1,636,357‌

1,000,000

e

Equinix,

Inc

3

.200

11/18/29

845,380‌

175,000

Equinix,

Inc

2

.150

07/15/30

134,166‌

1,000,000

e

Equinix,

Inc

2

.500

05/15/31

770,403‌

1,500,000

Equinix,

Inc

3

.400

02/15/52

987,819‌

700,000

ERP

Operating

LP

3

.375

06/01/25

665,521‌

200,000

ERP

Operating

LP

2

.850

11/01/26

182,425‌

1,150,000

ERP

Operating

LP

3

.250

08/01/27

1,032,541‌

500,000

ERP

Operating

LP

3

.500

03/01/28

455,141‌

200,000

ERP

Operating

LP

4

.150

12/01/28

183,819‌

750,000

ERP

Operating

LP

3

.000

07/01/29

650,514‌

300,000

ERP

Operating

LP

2

.500

02/15/30

246,860‌

500,000

ERP

Operating

LP

1

.850

08/01/31

382,026‌

425,000

ERP

Operating

LP

4

.500

07/01/44

356,718‌

100,000

ERP

Operating

LP

4

.000

08/01/47

77,432‌

650,000

Essential

Properties

LP

2

.950

07/15/31

474,716‌

100,000

Essex

Portfolio

LP

3

.250

05/01/23

99,141‌

400,000

Essex

Portfolio

LP

3

.500

04/01/25

383,633‌

100,000

Essex

Portfolio

LP

3

.375

04/15/26

93,206‌

200,000

Essex

Portfolio

LP

3

.625

05/01/27

186,165‌

900,000

Essex

Portfolio

LP

4

.000

03/01/29

815,656‌

325,000

Essex

Portfolio

LP

3

.000

01/15/30

270,062‌

750,000

Essex

Portfolio

LP

1

.650

01/15/31

546,948‌

1,000,000

Essex

Portfolio

LP

2

.550

06/15/31

783,612‌

300,000

Essex

Portfolio

LP

4

.500

03/15/48

241,454‌

500,000

Extra

Space

Storage

LP

3

.900

04/01/29

445,172‌

700,000

Extra

Space

Storage

LP

2

.550

06/01/31

538,265‌

500,000

Extra

Space

Storage

LP

2

.350

03/15/32

368,492‌

500,000

Federal

Realty

Investment

Trust

3

.950

01/15/24

493,760‌

300,000

Federal

Realty

Investment

Trust

1

.250

02/15/26

263,985‌

50,000

Federal

Realty

Investment

Trust

3

.250

07/15/27

45,287‌

1,300,000

Federal

Realty

Investment

Trust

3

.200

06/15/29

1,107,461‌

300,000

Federal

Realty

Investment

Trust

3

.500

06/01/30

255,394‌

200,000

Federal

Realty

Investment

Trust

4

.500

12/01/44

157,820‌

250,000

GLP

Capital

LP

3

.350

09/01/24

237,005‌

1,300,000

GLP

Capital

LP

5

.250

06/01/25

1,256,552‌

150,000

GLP

Capital

LP

5

.375

04/15/26

143,476‌

750,000

GLP

Capital

LP

5

.750

06/01/28

702,307‌

200,000

GLP

Capital

LP

5

.300

01/15/29

182,291‌

500,000

GLP

Capital

LP

4

.000

01/15/30

417,570‌

500,000

GLP

Capital

LP

4

.000

01/15/31

408,708‌

750,000

GLP

Capital

LP

3

.250

01/15/32

563,791‌

100,000

Healthcare

Realty

Holdings

LP

3

.625

01/15/28

88,040‌

100,000

Healthcare

Realty

Holdings

LP

2

.400

03/15/30

76,602‌

175,000

Healthcare

Realty

Holdings

LP

2

.050

03/15/31

127,399‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

102

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE—continued

$

800,000

Healthcare

Trust

of

America

Holdings

LP

3

.500

%

08/01/26

$

737,062‌

500,000

Healthcare

Trust

of

America

Holdings

LP

3

.100

02/15/30

409,485‌

975,000

Healthcare

Trust

of

America

Holdings

LP

2

.000

03/15/31

716,168‌

100,000

Healthpeak

Properties,

Inc

3

.250

07/15/26

93,135‌

1,500,000

Healthpeak

Properties,

Inc

1

.350

02/01/27

1,270,244‌

325,000

Healthpeak

Properties,

Inc

2

.125

12/01/28

266,101‌

600,000

Healthpeak

Properties,

Inc

3

.500

07/15/29

527,139‌

1,000,000

Healthpeak

Properties,

Inc

3

.000

01/15/30

835,851‌

175,000

Healthpeak

Properties,

Inc

2

.875

01/15/31

142,795‌

30,000

Healthpeak

Properties,

Inc

6

.750

02/01/41

30,683‌

100,000

Highwoods

Realty

LP

3

.875

03/01/27

91,718‌

150,000

Highwoods

Realty

LP

4

.125

03/15/28

135,269‌

250,000

Highwoods

Realty

LP

4

.200

04/15/29

218,624‌

500,000

Highwoods

Realty

LP

3

.050

02/15/30

405,309‌

775,000

Highwoods

Realty

LP

2

.600

02/01/31

581,067‌

700,000

Host

Hotels

&

Resorts

LP

3

.875

04/01/24

681,028‌

200,000

Host

Hotels

&

Resorts

LP

4

.000

06/15/25

189,922‌

100,000

Host

Hotels

&

Resorts

LP

4

.500

02/01/26

94,936‌

500,000

Host

Hotels

&

Resorts

LP

3

.375

12/15/29

405,107‌

850,000

Host

Hotels

&

Resorts

LP

3

.500

09/15/30

677,854‌

200,000

Host

Hotels

&

Resorts

LP

2

.900

12/15/31

146,784‌

100,000

Hudson

Pacific

Properties

LP

3

.950

11/01/27

89,248‌

500,000

Hudson

Pacific

Properties

LP

5

.950

02/15/28

478,858‌

100,000

Hudson

Pacific

Properties

LP

4

.650

04/01/29

88,841‌

750,000

Hudson

Pacific

Properties

LP

3

.250

01/15/30

597,194‌

300,000

Invitation

Homes

Operating

Partnership

LP

2

.300

11/15/28

240,445‌

500,000

Invitation

Homes

Operating

Partnership

LP

2

.000

08/15/31

358,690‌

575,000

Invitation

Homes

Operating

Partnership

LP

4

.150

04/15/32

485,912‌

750,000

Invitation

Homes

Operating

Partnership

LP

2

.700

01/15/34

529,086‌

125,000

Kilroy

Realty

LP

3

.450

12/15/24

119,737‌

250,000

Kilroy

Realty

LP

4

.750

12/15/28

228,224‌

200,000

Kilroy

Realty

LP

4

.250

08/15/29

176,659‌

750,000

Kilroy

Realty

LP

3

.050

02/15/30

598,597‌

500,000

Kilroy

Realty

LP

2

.500

11/15/32

359,391‌

1,000,000

Kilroy

Realty

LP

2

.650

11/15/33

701,342‌

200,000

Kimco

Realty

Corp

2

.700

03/01/24

193,857‌

625,000

Kimco

Realty

Corp

2

.800

10/01/26

565,144‌

200,000

Kimco

Realty

Corp

3

.800

04/01/27

184,942‌

500,000

Kimco

Realty

Corp

1

.900

03/01/28

411,614‌

750,000

Kimco

Realty

Corp

2

.700

10/01/30

604,583‌

1,000,000

Kimco

Realty

Corp

2

.250

12/01/31

750,111‌

500,000

Kimco

Realty

Corp

4

.600

02/01/33

451,455‌

200,000

Kimco

Realty

Corp

4

.250

04/01/45

149,941‌

175,000

Kimco

Realty

Corp

4

.125

12/01/46

130,223‌

100,000

Kimco

Realty

Corp

4

.450

09/01/47

77,797‌

500,000

Kimco

Realty

Corp

3

.700

10/01/49

344,286‌

750,000

Lexington

Realty

Trust

2

.700

09/15/30

577,002‌

200,000

Life

Storage

LP

3

.875

12/15/27

181,986‌

500,000

Life

Storage

LP

4

.000

06/15/29

441,337‌

100,000

Life

Storage

LP

2

.200

10/15/30

76,018‌

450,000

Life

Storage

LP

2

.400

10/15/31

337,771‌

200,000

Mid-America

Apartments

LP

4

.300

10/15/23

198,539‌

100,000

Mid-America

Apartments

LP

4

.000

11/15/25

96,643‌

1,000,000

Mid-America

Apartments

LP

1

.100

09/15/26

855,127‌

750,000

Mid-America

Apartments

LP

3

.600

06/01/27

695,861‌

200,000

Mid-America

Apartments

LP

4

.200

06/15/28

186,403‌

625,000

Mid-America

Apartments

LP

3

.950

03/15/29

568,316‌

175,000

Mid-America

Apartments

LP

2

.750

03/15/30

145,766‌

250,000

Mid-America

Apartments

LP

1

.700

02/15/31

188,829‌

150,000

Mid-America

Apartments

LP

2

.875

09/15/51

93,696‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

103

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE—continued

$

500,000

National

Health

Investors,

Inc

3

.000

%

02/01/31

$

351,069‌

1,550,000

National

Retail

Properties,

Inc

3

.500

10/15/27

1,386,212‌

300,000

National

Retail

Properties,

Inc

2

.500

04/15/30

240,727‌

500,000

National

Retail

Properties,

Inc

3

.100

04/15/50

310,204‌

1,000,000

National

Retail

Properties,

Inc

3

.000

04/15/52

603,105‌

1,000,000

Office

Properties

Income

Trust

2

.650

06/15/26

749,908‌

500,000

Office

Properties

Income

Trust

2

.400

02/01/27

360,153‌

248,000

Omega

Healthcare

Investors,

Inc

4

.375

08/01/23

246,842‌

200,000

Omega

Healthcare

Investors,

Inc

4

.500

04/01/27

185,497‌

825,000

Omega

Healthcare

Investors,

Inc

4

.750

01/15/28

756,330‌

500,000

Omega

Healthcare

Investors,

Inc

3

.625

10/01/29

406,937‌

500,000

Omega

Healthcare

Investors,

Inc

3

.375

02/01/31

381,197‌

1,000,000

Omega

Healthcare

Investors,

Inc

3

.250

04/15/33

710,360‌

200,000

Physicians

Realty

LP

4

.300

03/15/27

187,057‌

200,000

Physicians

Realty

LP

3

.950

01/15/28

180,462‌

1,000,000

Physicians

Realty

LP

2

.625

11/01/31

758,731‌

200,000

Piedmont

Operating

Partnership

LP

3

.400

06/01/23

197,842‌

200,000

Piedmont

Operating

Partnership

LP

4

.450

03/15/24

196,818‌

1,000,000

Piedmont

Operating

Partnership

LP

2

.750

04/01/32

711,888‌

100,000

Prologis

LP

3

.250

10/01/26

93,179‌

1,200,000

Prologis

LP

3

.875

09/15/28

1,116,179‌

100,000

Prologis

LP

4

.375

02/01/29

94,727‌

500,000

Prologis

LP

2

.250

04/15/30

408,410‌

1,000,000

e

Prologis

LP

1

.625

03/15/31

758,297‌

100,000

Prologis

LP

4

.375

09/15/48

84,283‌

500,000

Prologis

LP

3

.000

04/15/50

334,036‌

500,000

Prologis

LP

2

.125

10/15/50

279,838‌

1,000,000

ProLogis

LP

4

.625

01/15/33

950,539‌

1,500,000

Public

Storage

0

.875

02/15/26

1,313,611‌

750,000

Public

Storage

1

.500

11/09/26

663,566‌

200,000

Public

Storage

3

.094

09/15/27

183,010‌

750,000

Public

Storage

1

.950

11/09/28

624,782‌

500,000

Public

Storage

3

.385

05/01/29

449,206‌

250,000

Public

Storage

2

.250

11/09/31

196,857‌

200,000

Realty

Income

Corp

3

.875

04/15/25

194,497‌

750,000

Realty

Income

Corp

0

.750

03/15/26

645,362‌

425,000

Realty

Income

Corp

4

.875

06/01/26

417,750‌

200,000

Realty

Income

Corp

4

.125

10/15/26

191,475‌

200,000

Realty

Income

Corp

3

.000

01/15/27

181,870‌

650,000

Realty

Income

Corp

3

.950

08/15/27

610,412‌

1,000,000

Realty

Income

Corp

3

.400

01/15/28

908,693‌

1,000,000

Realty

Income

Corp

3

.650

01/15/28

917,971‌

500,000

Realty

Income

Corp

2

.200

06/15/28

421,190‌

500,000

Realty

Income

Corp

3

.250

06/15/29

438,890‌

500,000

Realty

Income

Corp

3

.100

12/15/29

429,288‌

1,500,000

Realty

Income

Corp

3

.250

01/15/31

1,280,000‌

750,000

Realty

Income

Corp

1

.800

03/15/33

525,986‌

300,000

Realty

Income

Corp

4

.650

03/15/47

261,188‌

375,000

Regency

Centers

LP

3

.600

02/01/27

348,343‌

125,000

Regency

Centers

LP

4

.125

03/15/28

114,789‌

425,000

Regency

Centers

LP

2

.950

09/15/29

352,484‌

500,000

Regency

Centers

LP

3

.700

06/15/30

430,040‌

200,000

Regency

Centers

LP

4

.400

02/01/47

155,329‌

300,000

Regency

Centers

LP

4

.650

03/15/49

239,820‌

350,000

Retail

Properties

of

America,

Inc

4

.750

09/15/30

304,210‌

300,000

Sabra

Health

Care

LP

5

.125

08/15/26

281,463‌

1,000,000

Sabra

Health

Care

LP

3

.200

12/01/31

734,612‌

500,000

Select

Income

REIT

4

.250

05/15/24

460,023‌

400,000

Select

Income

REIT

4

.500

02/01/25

355,577‌

500,000

Simon

Property

Group

LP

2

.000

09/13/24

472,208‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

104

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE—continued

$

450,000

Simon

Property

Group

LP

3

.375

%

10/01/24

$

436,612‌

800,000

Simon

Property

Group

LP

3

.500

09/01/25

763,832‌

625,000

Simon

Property

Group

LP

3

.300

01/15/26

588,678‌

350,000

Simon

Property

Group

LP

3

.250

11/30/26

323,108‌

1,000,000

e

Simon

Property

Group

LP

1

.375

01/15/27

854,503‌

200,000

Simon

Property

Group

LP

3

.375

06/15/27

183,563‌

300,000

Simon

Property

Group

LP

3

.375

12/01/27

270,751‌

1,000,000

Simon

Property

Group

LP

1

.750

02/01/28

828,507‌

1,750,000

Simon

Property

Group

LP

2

.450

09/13/29

1,423,394‌

750,000

Simon

Property

Group

LP

2

.650

07/15/30

604,850‌

1,000,000

e

Simon

Property

Group

LP

2

.200

02/01/31

764,294‌

500,000

Simon

Property

Group

LP

2

.250

01/15/32

377,811‌

1,500,000

Simon

Property

Group

LP

2

.650

02/01/32

1,170,747‌

1,500,000

Simon

Property

Group

LP

4

.250

10/01/44

1,149,712‌

300,000

Simon

Property

Group

LP

4

.250

11/30/46

234,585‌

500,000

Simon

Property

Group

LP

3

.250

09/13/49

323,921‌

750,000

Simon

Property

Group

LP

3

.800

07/15/50

525,666‌

150,000

SITE

Centers

Corp

4

.250

02/01/26

141,507‌

200,000

SITE

Centers

Corp

4

.700

06/01/27

184,345‌

200,000

SL

Green

Operating

Partnership

LP

3

.250

10/15/22

199,920‌

525,000

Sovran

Acquisition

LP

3

.500

07/01/26

494,312‌

300,000

Spirit

Realty

LP

3

.200

01/15/27

263,155‌

1,000,000

Spirit

Realty

LP

2

.100

03/15/28

794,608‌

500,000

Spirit

Realty

LP

4

.000

07/15/29

430,489‌

300,000

Spirit

Realty

LP

3

.400

01/15/30

243,746‌

500,000

Spirit

Realty

LP

3

.200

02/15/31

389,582‌

500,000

STORE

Capital

Corp

4

.625

03/15/29

478,012‌

500,000

STORE

Capital

Corp

2

.750

11/18/30

440,779‌

500,000

Sun

Communities

Operating

LP

2

.300

11/01/28

401,299‌

1,000,000

Sun

Communities

Operating

LP

4

.200

04/15/32

837,411‌

100,000

e

Tanger

Properties

LP

3

.125

09/01/26

89,544‌

250,000

e

Tanger

Properties

LP

3

.875

07/15/27

224,901‌

500,000

Tanger

Properties

LP

2

.750

09/01/31

354,930‌

200,000

UDR,

Inc

3

.500

07/01/27

183,108‌

200,000

UDR,

Inc

3

.500

01/15/28

177,485‌

600,000

UDR,

Inc

3

.200

01/15/30

505,108‌

1,000,000

UDR,

Inc

3

.000

08/15/31

796,192‌

750,000

UDR,

Inc

2

.100

08/01/32

541,558‌

500,000

UDR,

Inc

1

.900

03/15/33

346,534‌

300,000

UDR,

Inc

3

.100

11/01/34

227,600‌

300,000

Ventas

Realty

LP

3

.500

04/15/24

291,782‌

750,000

Ventas

Realty

LP

2

.650

01/15/25

705,352‌

120,000

Ventas

Realty

LP

4

.125

01/15/26

114,828‌

200,000

Ventas

Realty

LP

3

.250

10/15/26

183,557‌

1,000,000

Ventas

Realty

LP

4

.000

03/01/28

915,282‌

525,000

Ventas

Realty

LP

4

.400

01/15/29

483,791‌

350,000

Ventas

Realty

LP

3

.000

01/15/30

290,599‌

500,000

Ventas

Realty

LP

4

.750

11/15/30

460,492‌

1,025,000

Ventas

Realty

LP

2

.500

09/01/31

792,870‌

300,000

Ventas

Realty

LP

4

.375

02/01/45

231,746‌

300,000

Ventas

Realty

LP

4

.875

04/15/49

254,386‌

1,500,000

VICI

Properties

LP

4

.375

05/15/25

1,428,210‌

850,000

VICI

Properties

LP

4

.750

02/15/28

781,582‌

750,000

VICI

Properties

LP

4

.950

02/15/30

677,786‌

1,000,000

VICI

Properties

LP

5

.125

05/15/32

886,400‌

1,000,000

VICI

Properties

LP

5

.625

05/15/52

827,389‌

200,000

Vornado

Realty

LP

3

.500

01/15/25

187,177‌

275,000

Vornado

Realty

LP

2

.150

06/01/26

230,142‌

275,000

Vornado

Realty

LP

3

.400

06/01/31

210,426‌

2,000,000

Welltower,

Inc

3

.625

03/15/24

1,953,953‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

105

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE—continued

$

600,000

Welltower,

Inc

4

.250

%

04/01/26

$

574,974‌

500,000

Welltower,

Inc

2

.700

02/15/27

446,677‌

600,000

Welltower,

Inc

4

.250

04/15/28

557,712‌

1,000,000

Welltower,

Inc

2

.050

01/15/29

803,226‌

500,000

Welltower,

Inc

4

.125

03/15/29

453,565‌

425,000

Welltower,

Inc

3

.100

01/15/30

353,867‌

400,000

Welltower,

Inc

2

.750

01/15/31

316,289‌

1,000,000

Welltower,

Inc

2

.800

06/01/31

789,875‌

500,000

Welltower,

Inc

2

.750

01/15/32

388,078‌

150,000

Welltower,

Inc

3

.850

06/15/32

128,183‌

300,000

Welltower,

Inc

4

.950

09/01/48

256,635‌

500,000

Weyerhaeuser

Co

4

.000

11/15/29

449,804‌

500,000

Weyerhaeuser

Co

4

.000

04/15/30

442,162‌

304,000

Weyerhaeuser

Co

7

.375

03/15/32

327,975‌

300,000

Weyerhaeuser

Co

3

.375

03/09/33

242,979‌

375,000

Weyerhaeuser

Co

4

.000

03/09/52

274,625‌

200,000

WP

Carey,

Inc

4

.600

04/01/24

198,137‌

347,000

WP

Carey,

Inc

4

.000

02/01/25

335,627‌

1,000,000

WP

Carey,

Inc

3

.850

07/15/29

882,132‌

750,000

WP

Carey,

Inc

2

.400

02/01/31

575,631‌

500,000

WP

Carey,

Inc

2

.450

02/01/32

373,124‌

TOTAL

REAL

ESTATE

177,064,449‌

RETAILING

-

0

.8

%

100,000

Advance

Auto

Parts,

Inc

1

.750

10/01/27

82,475‌

500,000

Advance

Auto

Parts,

Inc

3

.900

04/15/30

429,217‌

1,000,000

Advance

Auto

Parts,

Inc

3

.500

03/15/32

797,304‌

1,200,000

Alibaba

Group

Holding

Ltd

2

.800

06/06/23

1,184,257‌

1,250,000

Alibaba

Group

Holding

Ltd

3

.600

11/28/24

1,212,451‌

1,325,000

Alibaba

Group

Holding

Ltd

3

.400

12/06/27

1,192,281‌

1,250,000

e

Alibaba

Group

Holding

Ltd

2

.125

02/09/31

961,973‌

500,000

Alibaba

Group

Holding

Ltd

4

.500

11/28/34

423,505‌

750,000

Alibaba

Group

Holding

Ltd

4

.000

12/06/37

572,460‌

1,250,000

Alibaba

Group

Holding

Ltd

2

.700

02/09/41

762,483‌

1,500,000

Alibaba

Group

Holding

Ltd

4

.200

12/06/47

1,082,979‌

1,250,000

Alibaba

Group

Holding

Ltd

3

.150

02/09/51

731,023‌

750,000

Alibaba

Group

Holding

Ltd

4

.400

12/06/57

538,450‌

1,250,000

Alibaba

Group

Holding

Ltd

3

.250

02/09/61

704,984‌

200,000

Allegion

US

Holding

Co,

Inc

3

.200

10/01/24

191,116‌

200,000

Allegion

US

Holding

Co,

Inc

3

.550

10/01/27

178,378‌

500,000

Allegion

US

Holding

Co,

Inc

5

.411

07/01/32

463,762‌

1,125,000

Amazon.com,

Inc

2

.800

08/22/24

1,092,501‌

425,000

Amazon.com,

Inc

3

.800

12/05/24

418,709‌

1,000,000

Amazon.com,

Inc

0

.800

06/03/25

906,959‌

325,000

Amazon.com,

Inc

5

.200

12/03/25

329,624‌

5,000,000

Amazon.com,

Inc

1

.000

05/12/26

4,387,139‌

3,000,000

Amazon.com,

Inc

3

.300

04/13/27

2,832,345‌

1,000,000

Amazon.com,

Inc

1

.200

06/03/27

853,994‌

2,700,000

Amazon.com,

Inc

3

.150

08/22/27

2,516,070‌

2,000,000

Amazon.com,

Inc

1

.650

05/12/28

1,698,808‌

2,000,000

Amazon.com,

Inc

3

.450

04/13/29

1,849,355‌

1,000,000

Amazon.com,

Inc

1

.500

06/03/30

788,893‌

2,000,000

Amazon.com,

Inc

2

.100

05/12/31

1,621,865‌

2,000,000

Amazon.com,

Inc

3

.600

04/13/32

1,818,562‌

1,800,000

Amazon.com,

Inc

4

.800

12/05/34

1,773,811‌

2,625,000

Amazon.com,

Inc

3

.875

08/22/37

2,281,766‌

2,500,000

Amazon.com,

Inc

2

.875

05/12/41

1,825,076‌

775,000

Amazon.com,

Inc

4

.950

12/05/44

739,971‌

2,875,000

Amazon.com,

Inc

4

.050

08/22/47

2,427,856‌

1,900,000

Amazon.com,

Inc

2

.500

06/03/50

1,186,235‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

106

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

RETAILING—continued

$

2,500,000

Amazon.com,

Inc

3

.100

%

05/12/51

$

1,750,186‌

2,000,000

Amazon.com,

Inc

3

.950

04/13/52

1,640,432‌

1,900,000

Amazon.com,

Inc

4

.250

08/22/57

1,580,703‌

2,500,000

Amazon.com,

Inc

3

.250

05/12/61

1,682,136‌

2,000,000

Amazon.com,

Inc

4

.100

04/13/62

1,594,618‌

200,000

AutoNation,

Inc

3

.500

11/15/24

192,340‌

244,000

AutoNation,

Inc

4

.500

10/01/25

236,179‌

200,000

AutoNation,

Inc

3

.800

11/15/27

176,992‌

1,500,000

AutoNation,

Inc

1

.950

08/01/28

1,179,680‌

100,000

AutoNation,

Inc

4

.750

06/01/30

87,937‌

425,000

AutoNation,

Inc

2

.400

08/01/31

301,581‌

900,000

AutoNation,

Inc

3

.850

03/01/32

711,152‌

150,000

AutoZone,

Inc

3

.125

07/15/23

148,163‌

250,000

AutoZone,

Inc

3

.125

04/18/24

243,298‌

200,000

AutoZone,

Inc

3

.250

04/15/25

190,159‌

500,000

AutoZone,

Inc

3

.625

04/15/25

481,061‌

100,000

AutoZone,

Inc

3

.125

04/21/26

93,976‌

650,000

AutoZone,

Inc

3

.750

06/01/27

610,154‌

200,000

AutoZone,

Inc

3

.750

04/18/29

180,105‌

500,000

AutoZone,

Inc

4

.000

04/15/30

448,696‌

600,000

AutoZone,

Inc

1

.650

01/15/31

445,701‌

225,000

AutoZone,

Inc

4

.750

08/01/32

211,024‌

500,000

e

Best

Buy

Co,

Inc

4

.450

10/01/28

467,228‌

500,000

Best

Buy

Co,

Inc

1

.950

10/01/30

374,404‌

2,000,000

CDW

LLC

2

.670

12/01/26

1,734,749‌

1,000,000

CDW

LLC

3

.276

12/01/28

834,520‌

575,000

CDW

LLC

3

.569

12/01/31

447,679‌

2,000,000

Chevron

USA,

Inc

0

.687

08/12/25

1,789,046‌

2,000,000

Chevron

USA,

Inc

1

.018

08/12/27

1,672,029‌

1,000,000

Chevron

USA,

Inc

3

.250

10/15/29

900,697‌

250,000

Chevron

USA,

Inc

2

.343

08/12/50

152,606‌

1,000,000

Dick's

Sporting

Goods,

Inc

3

.150

01/15/32

761,677‌

1,000,000

Dick's

Sporting

Goods,

Inc

4

.100

01/15/52

617,970‌

355,000

Dollar

General

Corp

4

.150

11/01/25

344,178‌

300,000

Dollar

General

Corp

3

.875

04/15/27

283,510‌

1,000,000

Dollar

General

Corp

4

.625

11/01/27

972,040‌

500,000

Dollar

General

Corp

4

.125

05/01/28

473,088‌

500,000

Dollar

General

Corp

3

.500

04/03/30

438,550‌

500,000

Dollar

General

Corp

5

.000

11/01/32

480,866‌

500,000

Dollar

General

Corp

4

.125

04/03/50

389,289‌

500,000

Dollar

General

Corp

5

.500

11/01/52

489,274‌

500,000

Dollar

Tree,

Inc

4

.000

05/15/25

484,426‌

500,000

Dollar

Tree,

Inc

4

.200

05/15/28

465,833‌

1,000,000

Dollar

Tree,

Inc

2

.650

12/01/31

783,908‌

1,000,000

Dollar

Tree,

Inc

3

.375

12/01/51

647,410‌

400,000

eBay,

Inc

3

.450

08/01/24

389,336‌

1,000,000

eBay,

Inc

1

.400

05/10/26

874,878‌

1,200,000

eBay,

Inc

3

.600

06/05/27

1,110,860‌

1,200,000

eBay,

Inc

2

.700

03/11/30

977,890‌

1,000,000

e

eBay,

Inc

2

.600

05/10/31

779,604‌

200,000

eBay,

Inc

4

.000

07/15/42

150,123‌

1,000,000

e

eBay,

Inc

3

.650

05/10/51

666,235‌

1,500,000

Genuine

Parts

Co

1

.875

11/01/30

1,115,799‌

275,000

Genuine

Parts

Co

2

.750

02/01/32

212,837‌

1,000,000

g

GSK

Consumer

Healthcare

Capital

UK

plc

3

.125

03/24/25

943,946‌

550,000

Home

Depot,

Inc

3

.750

02/15/24

543,447‌

350,000

Home

Depot,

Inc

3

.350

09/15/25

337,809‌

1,925,000

Home

Depot,

Inc

3

.000

04/01/26

1,818,438‌

1,550,000

Home

Depot,

Inc

2

.125

09/15/26

1,405,368‌

2,000,000

Home

Depot,

Inc

2

.875

04/15/27

1,848,983‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

107

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

RETAILING—continued

$

2,000,000

Home

Depot,

Inc

0

.900

%

03/15/28

$

1,624,842‌

1,000,000

Home

Depot,

Inc

1

.500

09/15/28

828,451‌

825,000

Home

Depot,

Inc

3

.900

12/06/28

783,631‌

2,333,000

Home

Depot,

Inc

2

.950

06/15/29

2,067,752‌

375,000

Home

Depot,

Inc

2

.700

04/15/30

320,283‌

2,000,000

Home

Depot,

Inc

1

.375

03/15/31

1,504,361‌

1,000,000

e

Home

Depot,

Inc

1

.875

09/15/31

774,327‌

1,000,000

Home

Depot,

Inc

3

.250

04/15/32

865,844‌

1,500,000

Home

Depot,

Inc

4

.500

09/15/32

1,433,738‌

425,000

Home

Depot,

Inc

5

.875

12/16/36

441,011‌

150,000

Home

Depot,

Inc

5

.950

04/01/41

156,197‌

675,000

Home

Depot,

Inc

4

.200

04/01/43

565,901‌

450,000

Home

Depot,

Inc

4

.875

02/15/44

410,245‌

650,000

Home

Depot,

Inc

4

.400

03/15/45

552,474‌

725,000

Home

Depot,

Inc

4

.250

04/01/46

612,490‌

2,100,000

Home

Depot,

Inc

3

.900

06/15/47

1,670,831‌

2,000,000

Home

Depot,

Inc

4

.500

12/06/48

1,750,624‌

1,000,000

Home

Depot,

Inc

3

.125

12/15/49

687,932‌

2,655,000

Home

Depot,

Inc

3

.350

04/15/50

1,902,947‌

3,000,000

Home

Depot,

Inc

2

.375

03/15/51

1,755,409‌

1,000,000

Home

Depot,

Inc

2

.750

09/15/51

635,842‌

500,000

Home

Depot,

Inc

3

.625

04/15/52

377,829‌

1,000,000

Home

Depot,

Inc

4

.950

09/15/52

940,071‌

675,000

Home

Depot,

Inc

3

.500

09/15/56

475,924‌

500,000

e

JD.com,

Inc

3

.375

01/14/30

432,149‌

500,000

JD.com,

Inc

4

.125

01/14/50

360,055‌

750,000

Kohl's

Corp

3

.375

05/01/31

463,200‌

200,000

Kohl's

Corp

5

.550

07/17/45

119,738‌

300,000

Lowe's

Cos,

Inc

3

.875

09/15/23

296,724‌

400,000

Lowe's

Cos,

Inc

3

.125

09/15/24

387,143‌

1,000,000

Lowe's

Cos,

Inc

4

.000

04/15/25

979,744‌

1,000,000

Lowe's

Cos,

Inc

4

.400

09/08/25

984,740‌

1,100,000

Lowe's

Cos,

Inc

3

.375

09/15/25

1,050,310‌

500,000

Lowe's

Cos,

Inc

2

.500

04/15/26

460,702‌

1,000,000

Lowe's

Cos,

Inc

3

.350

04/01/27

926,140‌

2,000,000

Lowe's

Cos,

Inc

1

.300

04/15/28

1,614,447‌

1,500,000

Lowe's

Cos,

Inc

1

.700

09/15/28

1,224,662‌

775,000

Lowe's

Cos,

Inc

3

.650

04/05/29

698,417‌

306,000

Lowe's

Cos,

Inc

4

.500

04/15/30

286,068‌

1,500,000

Lowe's

Cos,

Inc

1

.700

10/15/30

1,131,021‌

800,000

Lowe's

Cos,

Inc

2

.625

04/01/31

643,171‌

1,000,000

Lowe's

Cos,

Inc

3

.750

04/01/32

865,004‌

1,000,000

Lowe's

Cos,

Inc

5

.000

04/15/33

944,596‌

700,000

Lowe's

Cos,

Inc

2

.800

09/15/41

445,844‌

56,000

Lowe's

Cos,

Inc

4

.250

09/15/44

42,577‌

1,075,000

Lowe's

Cos,

Inc

3

.700

04/15/46

768,839‌

2,000,000

Lowe's

Cos,

Inc

4

.050

05/03/47

1,501,279‌

1,425,000

Lowe's

Cos,

Inc

4

.550

04/05/49

1,140,701‌

1,320,000

Lowe's

Cos,

Inc

5

.125

04/15/50

1,203,710‌

450,000

Lowe's

Cos,

Inc

3

.000

10/15/50

275,557‌

1,000,000

Lowe's

Cos,

Inc

3

.500

04/01/51

662,107‌

500,000

Lowe's

Cos,

Inc

4

.250

04/01/52

382,851‌

1,000,000

Lowe's

Cos,

Inc

5

.625

04/15/53

924,810‌

500,000

Lowe's

Cos,

Inc

4

.450

04/01/62

373,190‌

1,000,000

Lowe's

Cos,

Inc

5

.800

09/15/62

917,555‌

1,000,000

O'Reilly

Automotive,

Inc

3

.600

09/01/27

928,560‌

300,000

O'Reilly

Automotive,

Inc

4

.350

06/01/28

285,574‌

500,000

O'Reilly

Automotive,

Inc

3

.900

06/01/29

455,587‌

200,000

O'Reilly

Automotive,

Inc

1

.750

03/15/31

149,626‌

2,000,000

O'Reilly

Automotive,

Inc

4

.700

06/15/32

1,871,522‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

108

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

RETAILING—continued

$

300,000

Ross

Stores,

Inc

4

.600

%

04/15/25

$

297,115‌

500,000

Ross

Stores,

Inc

0

.875

04/15/26

431,081‌

55,000

Ross

Stores,

Inc

4

.700

04/15/27

53,489‌

500,000

Ross

Stores,

Inc

1

.875

04/15/31

372,715‌

350,000

Target

Corp

3

.500

07/01/24

343,648‌

200,000

Target

Corp

2

.250

04/15/25

188,628‌

1,700,000

Target

Corp

2

.500

04/15/26

1,577,508‌

1,000,000

e

Target

Corp

1

.950

01/15/27

897,619‌

1,500,000

e

Target

Corp

3

.375

04/15/29

1,371,347‌

600,000

Target

Corp

2

.350

02/15/30

500,742‌

5,000,000

Target

Corp

2

.650

09/15/30

4,236,174‌

500,000

Target

Corp

4

.500

09/15/32

476,789‌

1,000,000

Target

Corp

2

.950

01/15/52

672,274‌

525,000

TJX

Cos,

Inc

2

.250

09/15/26

478,086‌

2,750,000

TJX

Cos,

Inc

1

.150

05/15/28

2,236,100‌

500,000

TJX

Cos,

Inc

1

.600

05/15/31

376,836‌

650,000

Tractor

Supply

Co

1

.750

11/01/30

486,819‌

TOTAL

RETAILING

150,559,286‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0

.6

%

500,000

Advanced

Micro

Devices,

Inc

3

.924

06/01/32

453,141‌

500,000

Advanced

Micro

Devices,

Inc

4

.393

06/01/52

422,704‌

250,000

Analog

Devices,

Inc

2

.950

04/01/25

240,279‌

1,175,000

Analog

Devices,

Inc

3

.500

12/05/26

1,115,255‌

1,000,000

Analog

Devices,

Inc

1

.700

10/01/28

835,129‌

600,000

Analog

Devices,

Inc

2

.100

10/01/31

475,389‌

300,000

Analog

Devices,

Inc

2

.800

10/01/41

212,122‌

1,000,000

Analog

Devices,

Inc

2

.950

10/01/51

665,837‌

1,000,000

Applied

Materials,

Inc

3

.300

04/01/27

937,626‌

950,000

Applied

Materials,

Inc

1

.750

06/01/30

749,756‌

250,000

Applied

Materials,

Inc

5

.100

10/01/35

244,276‌

100,000

Applied

Materials,

Inc

5

.850

06/15/41

104,145‌

1,200,000

Applied

Materials,

Inc

4

.350

04/01/47

1,037,520‌

775,000

e

Applied

Materials,

Inc

2

.750

06/01/50

504,402‌

2,000,000

g

Broadcom,

Inc

1

.950

02/15/28

1,638,799‌

300,000

g

Broadcom,

Inc

4

.000

04/15/29

264,431‌

343,000

Broadcom,

Inc

4

.150

11/15/30

296,882‌

1,500,000

g

Broadcom,

Inc

2

.450

02/15/31

1,130,459‌

625,000

g

Broadcom,

Inc

4

.150

04/15/32

522,717‌

1,500,000

Broadcom,

Inc

4

.300

11/15/32

1,259,452‌

1,500,000

g

Broadcom,

Inc

2

.600

02/15/33

1,071,333‌

5,883,000

g

Broadcom,

Inc

3

.419

04/15/33

4,490,002‌

2,522,000

g

Broadcom,

Inc

3

.469

04/15/34

1,892,140‌

6,327,000

g

Broadcom,

Inc

3

.137

11/15/35

4,433,324‌

4,043,000

g

Broadcom,

Inc

3

.187

11/15/36

2,765,194‌

3,336,000

g

Broadcom,

Inc

4

.926

05/15/37

2,750,770‌

850,000

g

Broadcom,

Inc

3

.500

02/15/41

573,554‌

3,000,000

g

Broadcom,

Inc

3

.750

02/15/51

1,967,369‌

2,050,000

Intel

Corp

3

.700

07/29/25

1,997,345‌

2,480,000

Intel

Corp

2

.600

05/19/26

2,301,869‌

1,000,000

Intel

Corp

3

.750

08/05/27

949,424‌

1,500,000

Intel

Corp

1

.600

08/12/28

1,237,927‌

1,000,000

Intel

Corp

4

.000

08/05/29

930,396‌

2,500,000

Intel

Corp

2

.450

11/15/29

2,085,701‌

1,500,000

Intel

Corp

3

.900

03/25/30

1,373,804‌

2,000,000

e

Intel

Corp

2

.000

08/12/31

1,549,124‌

1,000,000

Intel

Corp

4

.150

08/05/32

910,641‌

250,000

e

Intel

Corp

4

.000

12/15/32

225,598‌

1,000,000

Intel

Corp

2

.800

08/12/41

673,918‌

200,000

Intel

Corp

4

.100

05/19/46

159,819‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

109

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

$

675,000

Intel

Corp

4

.100

%

05/11/47

$

534,565‌

3,328,000

Intel

Corp

3

.734

12/08/47

2,472,333‌

2,500,000

Intel

Corp

3

.250

11/15/49

1,655,724‌

3,175,000

Intel

Corp

4

.750

03/25/50

2,743,433‌

1,000,000

Intel

Corp

3

.050

08/12/51

641,978‌

1,000,000

Intel

Corp

4

.900

08/05/52

883,086‌

1,000,000

Intel

Corp

3

.100

02/15/60

603,346‌

1,000,000

Intel

Corp

5

.050

08/05/62

865,560‌

850,000

KLA

Corp

4

.650

07/15/32

816,027‌

1,000,000

KLA

Corp

3

.300

03/01/50

702,413‌

1,000,000

KLA

Corp

4

.950

07/15/52

908,430‌

500,000

KLA

Corp

5

.250

07/15/62

459,529‌

200,000

Lam

Research

Corp

3

.800

03/15/25

195,404‌

150,000

Lam

Research

Corp

3

.750

03/15/26

143,852‌

275,000

Lam

Research

Corp

4

.000

03/15/29

257,312‌

125,000

Lam

Research

Corp

1

.900

06/15/30

99,049‌

825,000

Lam

Research

Corp

4

.875

03/15/49

760,780‌

200,000

e

Lam

Research

Corp

2

.875

06/15/50

130,403‌

1,200,000

Lam

Research

Corp

3

.125

06/15/60

765,065‌

1,000,000

Marvell

Technology,

Inc

1

.650

04/15/26

873,495‌

1,000,000

Marvell

Technology,

Inc

2

.450

04/15/28

826,039‌

350,000

Marvell

Technology,

Inc

4

.875

06/22/28

328,037‌

400,000

Maxim

Integrated

Products,

Inc

3

.450

06/15/27

370,928‌

1,000,000

Microchip

Technology,

Inc

4

.333

06/01/23

995,151‌

425,000

Micron

Technology,

Inc

4

.975

02/06/26

415,881‌

750,000

Micron

Technology,

Inc

4

.185

02/15/27

700,176‌

400,000

Micron

Technology,

Inc

5

.327

02/06/29

378,277‌

500,000

Micron

Technology,

Inc

4

.663

02/15/30

443,608‌

1,000,000

Micron

Technology,

Inc

2

.703

04/15/32

727,715‌

750,000

Micron

Technology,

Inc

3

.366

11/01/41

482,206‌

750,000

Micron

Technology,

Inc

3

.477

11/01/51

443,645‌

800,000

NVIDIA

Corp

3

.200

09/16/26

760,847‌

1,000,000

NVIDIA

Corp

1

.550

06/15/28

829,391‌

750,000

NVIDIA

Corp

2

.850

04/01/30

642,796‌

1,500,000

NVIDIA

Corp

2

.000

06/15/31

1,179,484‌

1,000,000

NVIDIA

Corp

3

.500

04/01/40

776,781‌

2,067,000

NVIDIA

Corp

3

.500

04/01/50

1,513,222‌

475,000

NXP

BV

4

.875

03/01/24

469,378‌

300,000

g

NXP

BV

2

.700

05/01/25

278,170‌

425,000

NXP

BV

5

.350

03/01/26

419,709‌

750,000

NXP

BV

3

.875

06/18/26

699,973‌

300,000

NXP

BV

3

.150

05/01/27

267,219‌

175,000

NXP

BV

4

.400

06/01/27

165,076‌

400,000

NXP

BV

5

.550

12/01/28

386,318‌

750,000

NXP

BV

4

.300

06/18/29

671,598‌

675,000

NXP

BV

3

.400

05/01/30

562,537‌

2,000,000

NXP

BV

2

.500

05/11/31

1,503,013‌

1,000,000

NXP

BV

2

.650

02/15/32

750,195‌

500,000

NXP

BV

5

.000

01/15/33

448,738‌

875,000

g

NXP

BV

3

.250

05/11/41

573,878‌

325,000

NXP

BV

3

.125

02/15/42

206,968‌

500,000

NXP

BV

3

.250

11/30/51

298,744‌

2,000,000

g

Qorvo,

Inc

1

.750

12/15/24

1,843,625‌

2,800,000

QUALCOMM,

Inc

3

.250

05/20/27

2,621,680‌

1,339,000

QUALCOMM,

Inc

1

.300

05/20/28

1,104,662‌

1,000,000

e

QUALCOMM,

Inc

2

.150

05/20/30

824,255‌

2,384,000

QUALCOMM,

Inc

1

.650

05/20/32

1,784,694‌

750,000

QUALCOMM,

Inc

4

.650

05/20/35

703,668‌

650,000

QUALCOMM,

Inc

4

.800

05/20/45

588,036‌

1,525,000

QUALCOMM,

Inc

4

.300

05/20/47

1,293,095‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

110

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

$

1,000,000

QUALCOMM,

Inc

4

.500

%

05/20/52

$

857,589‌

300,000

Skyworks

Solutions,

Inc

1

.800

06/01/26

259,804‌

1,000,000

Skyworks

Solutions,

Inc

3

.000

06/01/31

756,528‌

1,000,000

Texas

Instruments,

Inc

2

.250

09/04/29

846,599‌

325,000

Texas

Instruments,

Inc

1

.750

05/04/30

260,450‌

750,000

Texas

Instruments,

Inc

3

.650

08/16/32

679,047‌

350,000

Texas

Instruments,

Inc

3

.875

03/15/39

302,068‌

2,700,000

Texas

Instruments,

Inc

4

.150

05/15/48

2,302,177‌

1,000,000

e

Texas

Instruments,

Inc

2

.700

09/15/51

663,852‌

550,000

TSMC

Arizona

Corp

1

.750

10/25/26

483,562‌

350,000

TSMC

Arizona

Corp

3

.875

04/22/27

333,570‌

1,000,000

TSMC

Arizona

Corp

4

.125

04/22/29

942,141‌

1,000,000

TSMC

Arizona

Corp

2

.500

10/25/31

795,161‌

1,000,000

TSMC

Arizona

Corp

4

.250

04/22/32

920,747‌

1,000,000

TSMC

Arizona

Corp

3

.125

10/25/41

742,677‌

1,000,000

TSMC

Arizona

Corp

3

.250

10/25/51

712,803‌

500,000

TSMC

Arizona

Corp

4

.500

04/22/52

431,130‌

475,000

Xilinx,

Inc

2

.950

06/01/24

462,651‌

1,000,000

Xilinx,

Inc

2

.375

06/01/30

824,745‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

107,818,071‌

SOFTWARE

&

SERVICES

-

1

.0

%

775,000

Adobe

Systems,

Inc

3

.250

02/01/25

752,085‌

500,000

Adobe,

Inc

1

.900

02/01/25

470,053‌

1,000,000

Adobe,

Inc

2

.150

02/01/27

901,740‌

925,000

Adobe,

Inc

2

.300

02/01/30

768,463‌

1,000,000

Amdocs

Ltd

2

.538

06/15/30

796,629‌

250,000

Autodesk,

Inc

4

.375

06/15/25

246,141‌

450,000

Autodesk,

Inc

3

.500

06/15/27

416,689‌

750,000

Autodesk,

Inc

2

.850

01/15/30

629,302‌

1,000,000

Autodesk,

Inc

2

.400

12/15/31

777,806‌

700,000

Automatic

Data

Processing,

Inc

3

.375

09/15/25

678,985‌

400,000

Automatic

Data

Processing,

Inc

1

.700

05/15/28

342,268‌

900,000

Automatic

Data

Processing,

Inc

1

.250

09/01/30

692,047‌

350,000

Broadridge

Financial

Solutions,

Inc

3

.400

06/27/26

325,595‌

1,000,000

Broadridge

Financial

Solutions,

Inc

2

.900

12/01/29

833,103‌

1,000,000

Broadridge

Financial

Solutions,

Inc

2

.600

05/01/31

792,018‌

3,000,000

Fidelity

National

Information

Services,

Inc

0

.600

03/01/24

2,813,279‌

1,500,000

Fidelity

National

Information

Services,

Inc

1

.150

03/01/26

1,297,991‌

500,000

Fidelity

National

Information

Services,

Inc

4

.700

07/15/27

481,253‌

825,000

Fidelity

National

Information

Services,

Inc

2

.250

03/01/31

635,052‌

500,000

Fidelity

National

Information

Services,

Inc

5

.100

07/15/32

469,839‌

425,000

Fidelity

National

Information

Services,

Inc

3

.100

03/01/41

282,273‌

500,000

Fidelity

National

Information

Services,

Inc

5

.625

07/15/52

443,226‌

125,000

Fiserv,

Inc

3

.800

10/01/23

123,818‌

2,000,000

Fiserv,

Inc

2

.750

07/01/24

1,918,266‌

1,675,000

Fiserv,

Inc

3

.850

06/01/25

1,608,046‌

900,000

Fiserv,

Inc

3

.200

07/01/26

828,800‌

1,125,000

Fiserv,

Inc

3

.500

07/01/29

978,794‌

2,175,000

Fiserv,

Inc

2

.650

06/01/30

1,763,386‌

2,300,000

Fiserv,

Inc

4

.400

07/01/49

1,783,864‌

1,000,000

Fortinet,

Inc

1

.000

03/15/26

860,495‌

500,000

Genpact

Luxembourg

Sarl

3

.375

12/01/24

479,676‌

1,000,000

Genpact

Luxembourg

Sarl

1

.750

04/10/26

885,826‌

125,000

Global

Payments,

Inc

3

.750

06/01/23

123,856‌

575,000

Global

Payments,

Inc

2

.650

02/15/25

537,401‌

2,500,000

Global

Payments,

Inc

1

.200

03/01/26

2,151,613‌

300,000

Global

Payments,

Inc

4

.800

04/01/26

289,641‌

1,000,000

Global

Payments,

Inc

2

.150

01/15/27

855,693‌

500,000

Global

Payments,

Inc

4

.950

08/15/27

476,370‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

111

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SOFTWARE

&

SERVICES—continued

$

500,000

Global

Payments,

Inc

4

.450

%

06/01/28

$

457,097‌

475,000

Global

Payments,

Inc

3

.200

08/15/29

395,781‌

500,000

Global

Payments,

Inc

5

.300

08/15/29

470,223‌

325,000

Global

Payments,

Inc

2

.900

05/15/30

259,066‌

500,000

Global

Payments,

Inc

5

.400

08/15/32

463,986‌

1,250,000

Global

Payments,

Inc

4

.150

08/15/49

857,095‌

500,000

Global

Payments,

Inc

5

.950

08/15/52

440,519‌

550,000

International

Business

Machines

Corp

3

.375

08/01/23

545,594‌

600,000

International

Business

Machines

Corp

3

.625

02/12/24

591,926‌

3,000,000

International

Business

Machines

Corp

3

.000

05/15/24

2,918,040‌

1,000,000

International

Business

Machines

Corp

4

.000

07/27/25

980,408‌

350,000

International

Business

Machines

Corp

3

.450

02/19/26

333,428‌

2,500,000

International

Business

Machines

Corp

3

.300

05/15/26

2,355,686‌

1,500,000

International

Business

Machines

Corp

2

.200

02/09/27

1,335,591‌

1,000,000

International

Business

Machines

Corp

1

.700

05/15/27

863,240‌

2,675,000

International

Business

Machines

Corp

3

.500

05/15/29

2,417,665‌

2,900,000

International

Business

Machines

Corp

1

.950

05/15/30

2,304,315‌

1,500,000

e

International

Business

Machines

Corp

2

.720

02/09/32

1,218,209‌

1,850,000

International

Business

Machines

Corp

4

.150

05/15/39

1,529,496‌

19,000

International

Business

Machines

Corp

5

.600

11/30/39

18,466‌

450,000

International

Business

Machines

Corp

2

.850

05/15/40

312,652‌

1,060,000

International

Business

Machines

Corp

4

.000

06/20/42

831,552‌

1,500,000

International

Business

Machines

Corp

4

.700

02/19/46

1,291,546‌

975,000

International

Business

Machines

Corp

2

.950

05/15/50

614,501‌

1,500,000

International

Business

Machines

Corp

3

.430

02/09/52

1,024,117‌

1,000,000

International

Business

Machines

Corp

4

.900

07/27/52

875,042‌

300,000

Intuit,

Inc

0

.950

07/15/25

270,313‌

350,000

Intuit,

Inc

1

.350

07/15/27

296,518‌

350,000

Intuit,

Inc

1

.650

07/15/30

272,644‌

750,000

Kyndryl

Holdings,

Inc

2

.050

10/15/26

602,392‌

750,000

Kyndryl

Holdings,

Inc

2

.700

10/15/28

548,495‌

750,000

Kyndryl

Holdings,

Inc

3

.150

10/15/31

502,896‌

750,000

Kyndryl

Holdings,

Inc

4

.100

10/15/41

419,646‌

1,000,000

Mastercard,

Inc

3

.375

04/01/24

983,102‌

1,000,000

Mastercard,

Inc

2

.000

03/03/25

941,394‌

425,000

Mastercard,

Inc

2

.950

11/21/26

396,727‌

750,000

Mastercard,

Inc

3

.500

02/26/28

700,058‌

1,000,000

Mastercard,

Inc

2

.950

06/01/29

890,443‌

625,000

Mastercard,

Inc

1

.900

03/15/31

498,543‌

1,500,000

Mastercard,

Inc

2

.000

11/18/31

1,186,898‌

200,000

Mastercard,

Inc

3

.800

11/21/46

162,213‌

300,000

Mastercard,

Inc

3

.950

02/26/48

247,664‌

1,000,000

Mastercard,

Inc

3

.650

06/01/49

779,950‌

1,350,000

Mastercard,

Inc

3

.850

03/26/50

1,086,023‌

850,000

Mastercard,

Inc

2

.950

03/15/51

577,937‌

1,450,000

Microsoft

Corp

2

.000

08/08/23

1,422,581‌

800,000

Microsoft

Corp

3

.625

12/15/23

792,768‌

975,000

Microsoft

Corp

2

.700

02/12/25

935,663‌

1,075,000

Microsoft

Corp

3

.125

11/03/25

1,032,314‌

2,925,000

Microsoft

Corp

2

.400

08/08/26

2,707,626‌

8,739,000

Microsoft

Corp

3

.300

02/06/27

8,327,594‌

150,000

e

Microsoft

Corp

3

.500

02/12/35

134,755‌

1,072,000

Microsoft

Corp

3

.450

08/08/36

938,751‌

8,038,000

Microsoft

Corp

2

.525

06/01/50

5,251,572‌

6,265,000

Microsoft

Corp

2

.921

03/17/52

4,418,679‌

7,374,000

Microsoft

Corp

2

.675

06/01/60

4,636,809‌

1,073,000

Microsoft

Corp

3

.041

03/17/62

732,128‌

2,375,000

Oracle

Corp

2

.400

09/15/23

2,317,288‌

1,225,000

Oracle

Corp

3

.400

07/08/24

1,190,641‌

900,000

Oracle

Corp

2

.950

11/15/24

858,722‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

112

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SOFTWARE

&

SERVICES—continued

$

6,500,000

Oracle

Corp

2

.500

%

04/01/25

$

6,057,082‌

1,650,000

Oracle

Corp

2

.950

05/15/25

1,552,919‌

3,000,000

Oracle

Corp

1

.650

03/25/26

2,628,605‌

2,884,000

Oracle

Corp

2

.650

07/15/26

2,595,502‌

1,000,000

Oracle

Corp

2

.300

03/25/28

835,165‌

1,000,000

Oracle

Corp

2

.950

04/01/30

806,066‌

400,000

Oracle

Corp

3

.250

05/15/30

330,779‌

3,000,000

Oracle

Corp

2

.875

03/25/31

2,365,998‌

2,497,000

Oracle

Corp

4

.300

07/08/34

2,034,588‌

650,000

Oracle

Corp

3

.900

05/15/35

497,956‌

1,225,000

Oracle

Corp

3

.850

07/15/36

916,670‌

4,000,000

Oracle

Corp

3

.800

11/15/37

2,902,074‌

100,000

Oracle

Corp

6

.500

04/15/38

95,103‌

470,000

Oracle

Corp

6

.125

07/08/39

430,620‌

675,000

Oracle

Corp

3

.600

04/01/40

458,128‌

325,000

Oracle

Corp

5

.375

07/15/40

270,849‌

2,000,000

Oracle

Corp

3

.650

03/25/41

1,358,848‌

500,000

Oracle

Corp

4

.500

07/08/44

368,254‌

325,000

Oracle

Corp

4

.125

05/15/45

223,317‌

2,025,000

Oracle

Corp

4

.000

07/15/46

1,368,539‌

3,100,000

Oracle

Corp

4

.000

11/15/47

2,077,153‌

7,350,000

Oracle

Corp

3

.600

04/01/50

4,598,913‌

2,000,000

Oracle

Corp

3

.950

03/25/51

1,326,411‌

500,000

Oracle

Corp

4

.375

05/15/55

342,232‌

1,500,000

Oracle

Corp

3

.850

04/01/60

906,757‌

2,000,000

Oracle

Corp

4

.100

03/25/61

1,259,139‌

1,000,000

PayPal

Holdings,

Inc

2

.400

10/01/24

955,259‌

1,000,000

PayPal

Holdings,

Inc

1

.650

06/01/25

920,523‌

1,000,000

PayPal

Holdings,

Inc

2

.650

10/01/26

917,745‌

1,000,000

PayPal

Holdings,

Inc

3

.900

06/01/27

958,107‌

1,000,000

PayPal

Holdings,

Inc

2

.850

10/01/29

855,404‌

500,000

PayPal

Holdings,

Inc

2

.300

06/01/30

406,755‌

1,000,000

e

PayPal

Holdings,

Inc

3

.250

06/01/50

676,274‌

750,000

PayPal

Holdings,

Inc

5

.050

06/01/52

667,779‌

750,000

PayPal

Holdings,

Inc

5

.250

06/01/62

670,138‌

500,000

Roper

Technologies,

Inc

3

.650

09/15/23

493,720‌

500,000

Roper

Technologies,

Inc

2

.350

09/15/24

475,164‌

750,000

Roper

Technologies,

Inc

1

.000

09/15/25

665,637‌

1,100,000

Roper

Technologies,

Inc

3

.800

12/15/26

1,045,627‌

750,000

Roper

Technologies,

Inc

1

.400

09/15/27

620,475‌

300,000

Roper

Technologies,

Inc

4

.200

09/15/28

280,211‌

500,000

Roper

Technologies,

Inc

2

.950

09/15/29

420,925‌

475,000

Roper

Technologies,

Inc

2

.000

06/30/30

363,689‌

750,000

Roper

Technologies,

Inc

1

.750

02/15/31

552,618‌

925,000

salesforce.com,

Inc

3

.700

04/11/28

876,716‌

2,000,000

salesforce.com,

Inc

1

.500

07/15/28

1,679,069‌

1,250,000

salesforce.com,

Inc

1

.950

07/15/31

984,020‌

1,075,000

salesforce.com,

Inc

2

.700

07/15/41

740,085‌

1,000,000

salesforce.com,

Inc

2

.900

07/15/51

660,538‌

2,000,000

salesforce.com,

Inc

3

.050

07/15/61

1,248,007‌

1,000,000

ServiceNow,

Inc

1

.400

09/01/30

736,260‌

1,000,000

TD

SYNNEX

Corp

1

.750

08/09/26

849,915‌

1,000,000

TD

SYNNEX

Corp

2

.375

08/09/28

806,415‌

1,000,000

TD

SYNNEX

Corp

2

.650

08/09/31

745,403‌

750,000

VeriSign,

Inc

2

.700

06/15/31

581,811‌

3,725,000

Visa,

Inc

3

.150

12/14/25

3,556,259‌

2,000,000

Visa,

Inc

1

.900

04/15/27

1,777,087‌

1,175,000

Visa,

Inc

0

.750

08/15/27

986,299‌

700,000

Visa,

Inc

2

.750

09/15/27

637,420‌

475,000

Visa,

Inc

2

.050

04/15/30

392,417‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

113

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SOFTWARE

&

SERVICES—continued

$

250,000

Visa,

Inc

4

.150

%

12/14/35

$

227,749‌

1,500,000

Visa,

Inc

2

.700

04/15/40

1,084,350‌

2,325,000

Visa,

Inc

4

.300

12/14/45

2,025,205‌

1,125,000

Visa,

Inc

3

.650

09/15/47

878,952‌

750,000

Visa,

Inc

2

.000

08/15/50

429,282‌

500,000

VMware,

Inc

4

.500

05/15/25

488,320‌

1,500,000

VMware,

Inc

1

.400

08/15/26

1,282,829‌

725,000

VMware,

Inc

3

.900

08/21/27

667,898‌

1,500,000

VMware,

Inc

1

.800

08/15/28

1,189,168‌

1,000,000

VMware,

Inc

4

.700

05/15/30

899,596‌

1,150,000

VMware,

Inc

2

.200

08/15/31

837,045‌

500,000

Western

Union

Co

2

.850

01/10/25

473,140‌

1,000,000

Western

Union

Co

1

.350

03/15/26

861,713‌

1,000,000

Western

Union

Co

2

.750

03/15/31

752,634‌

1,500,000

Workday,

Inc

3

.500

04/01/27

1,387,489‌

1,500,000

Workday,

Inc

3

.700

04/01/29

1,345,285‌

TOTAL

SOFTWARE

&

SERVICES

186,920,463‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0

.6

%

200,000

Amphenol

Corp

3

.200

04/01/24

196,296‌

250,000

Amphenol

Corp

2

.050

03/01/25

233,927‌

450,000

Amphenol

Corp

4

.350

06/01/29

424,624‌

1,000,000

Amphenol

Corp

2

.800

02/15/30

840,767‌

1,000,000

Amphenol

Corp

2

.200

09/15/31

774,779‌

2,725,000

Apple,

Inc

3

.450

05/06/24

2,679,375‌

2,000,000

Apple,

Inc

1

.125

05/11/25

1,834,408‌

1,125,000

Apple,

Inc

3

.200

05/13/25

1,088,512‌

3,000,000

Apple,

Inc

0

.700

02/08/26

2,638,726‌

2,825,000

Apple,

Inc

3

.250

02/23/26

2,710,821‌

1,425,000

Apple,

Inc

2

.450

08/04/26

1,313,968‌

3,250,000

Apple,

Inc

2

.050

09/11/26

2,955,884‌

1,075,000

Apple,

Inc

3

.350

02/09/27

1,026,425‌

275,000

Apple,

Inc

3

.200

05/11/27

258,667‌

3,675,000

Apple,

Inc

3

.000

11/13/27

3,391,930‌

3,000,000

Apple,

Inc

1

.200

02/08/28

2,511,838‌

2,500,000

Apple,

Inc

1

.400

08/05/28

2,082,012‌

1,000,000

Apple,

Inc

3

.250

08/08/29

912,771‌

1,000,000

Apple,

Inc

2

.200

09/11/29

851,870‌

2,950,000

Apple,

Inc

1

.650

05/11/30

2,374,853‌

3,000,000

Apple,

Inc

1

.250

08/20/30

2,308,802‌

3,000,000

Apple,

Inc

1

.650

02/08/31

2,365,841‌

2,500,000

Apple,

Inc

1

.700

08/05/31

1,959,116‌

1,000,000

Apple,

Inc

3

.350

08/08/32

890,620‌

1,600,000

Apple,

Inc

4

.500

02/23/36

1,549,341‌

2,000,000

Apple,

Inc

2

.375

02/08/41

1,384,289‌

350,000

Apple,

Inc

3

.850

05/04/43

293,651‌

750,000

Apple,

Inc

4

.450

05/06/44

680,645‌

1,350,000

Apple,

Inc

3

.450

02/09/45

1,065,586‌

1,000,000

Apple,

Inc

4

.375

05/13/45

897,271‌

1,775,000

Apple,

Inc

4

.650

02/23/46

1,659,824‌

900,000

Apple,

Inc

3

.850

08/04/46

744,396‌

1,175,000

Apple,

Inc

4

.250

02/09/47

1,040,963‌

900,000

Apple,

Inc

3

.750

09/12/47

727,542‌

2,850,000

Apple,

Inc

3

.750

11/13/47

2,323,234‌

3,000,000

Apple,

Inc

2

.950

09/11/49

2,113,000‌

3,350,000

Apple,

Inc

2

.650

05/11/50

2,203,013‌

1,375,000

Apple,

Inc

2

.400

08/20/50

853,391‌

1,000,000

Apple,

Inc

2

.650

02/08/51

656,533‌

1,000,000

Apple,

Inc

2

.700

08/05/51

660,046‌

750,000

Apple,

Inc

3

.950

08/08/52

626,299‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

114

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

$

25,000

Apple,

Inc

2

.550

%

08/20/60

$

14,973‌

2,000,000

Apple,

Inc

2

.800

02/08/61

1,245,087‌

1,000,000

Apple,

Inc

2

.850

08/05/61

626,951‌

750,000

Apple,

Inc

4

.100

08/08/62

614,835‌

425,000

Arrow

Electronics,

Inc

3

.250

09/08/24

408,998‌

200,000

Arrow

Electronics,

Inc

4

.000

04/01/25

192,374‌

425,000

Arrow

Electronics,

Inc

3

.875

01/12/28

384,019‌

1,000,000

Arrow

Electronics,

Inc

2

.950

02/15/32

760,592‌

200,000

Avnet,

Inc

4

.625

04/15/26

192,479‌

1,000,000

Avnet,

Inc

3

.000

05/15/31

753,930‌

1,100,000

Cisco

Systems,

Inc

3

.625

03/04/24

1,085,943‌

400,000

Cisco

Systems,

Inc

3

.500

06/15/25

389,735‌

500,000

Cisco

Systems,

Inc

2

.950

02/28/26

474,318‌

3,000,000

Cisco

Systems,

Inc

2

.500

09/20/26

2,787,778‌

1,000,000

Cisco

Systems,

Inc

5

.900

02/15/39

1,034,328‌

1,175,000

Cisco

Systems,

Inc

5

.500

01/15/40

1,168,056‌

200,000

Corning,

Inc

4

.700

03/15/37

176,268‌

100,000

Corning,

Inc

5

.750

08/15/40

97,387‌

200,000

Corning,

Inc

4

.750

03/15/42

171,983‌

300,000

Corning,

Inc

5

.350

11/15/48

269,794‌

500,000

Corning,

Inc

3

.900

11/15/49

354,090‌

825,000

Corning,

Inc

4

.375

11/15/57

612,322‌

200,000

Corning,

Inc

5

.850

11/15/68

175,583‌

1,000,000

Corning,

Inc

5

.450

11/15/79

817,692‌

875,000

Dell

International

LLC

4

.000

07/15/24

858,892‌

2,925,000

Dell

International

LLC

6

.020

06/15/26

2,936,782‌

1,050,000

Dell

International

LLC

4

.900

10/01/26

1,011,497‌

2,900,000

Dell

International

LLC

5

.300

10/01/29

2,702,046‌

608,000

Dell

International

LLC

8

.100

07/15/36

643,369‌

2,000,000

g

Dell

International

LLC

3

.375

12/15/41

1,237,598‌

377,000

Dell

International

LLC

8

.350

07/15/46

406,635‌

2,000,000

g

Dell

International

LLC

3

.450

12/15/51

1,137,023‌

800,000

Flex

Ltd

4

.750

06/15/25

781,505‌

500,000

Flex

Ltd

3

.750

02/01/26

464,509‌

1,000,000

Flex

Ltd

4

.875

05/12/30

901,369‌

500,000

Hewlett

Packard

Enterprise

Co

4

.450

10/02/23

497,825‌

1,500,000

Hewlett

Packard

Enterprise

Co

1

.450

04/01/24

1,423,852‌

3,000,000

Hewlett

Packard

Enterprise

Co

4

.900

10/15/25

2,973,526‌

225,000

Hewlett

Packard

Enterprise

Co

6

.200

10/15/35

220,111‌

1,175,000

Hewlett

Packard

Enterprise

Co

6

.350

10/15/45

1,066,709‌

1,000,000

HP,

Inc

2

.200

06/17/25

925,543‌

1,000,000

HP,

Inc

1

.450

06/17/26

862,076‌

1,000,000

HP,

Inc

3

.000

06/17/27

886,328‌

500,000

HP,

Inc

4

.750

01/15/28

469,211‌

1,000,000

HP,

Inc

4

.000

04/15/29

876,396‌

1,000,000

HP,

Inc

3

.400

06/17/30

807,576‌

1,000,000

HP,

Inc

2

.650

06/17/31

733,799‌

500,000

HP,

Inc

4

.200

04/15/32

406,326‌

500,000

HP,

Inc

5

.500

01/15/33

443,710‌

975,000

HP,

Inc

6

.000

09/15/41

845,982‌

1,000,000

Jabil,

Inc

1

.700

04/15/26

868,731‌

1,000,000

Jabil,

Inc

4

.250

05/15/27

932,134‌

100,000

Jabil,

Inc

3

.950

01/12/28

90,540‌

750,000

Jabil,

Inc

3

.600

01/15/30

626,186‌

50,000

Jabil,

Inc

3

.000

01/15/31

39,449‌

1,500,000

Juniper

Networks,

Inc

1

.200

12/10/25

1,315,455‌

200,000

Keysight

Technologies,

Inc

4

.550

10/30/24

197,233‌

600,000

Keysight

Technologies,

Inc

4

.600

04/06/27

583,787‌

500,000

Keysight

Technologies,

Inc

3

.000

10/30/29

422,999‌

20,000

Motorola

Solutions,

Inc

4

.000

09/01/24

19,603‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

115

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

$

450,000

Motorola

Solutions,

Inc

4

.600

%

02/23/28

$

424,853‌

500,000

Motorola

Solutions,

Inc

4

.600

05/23/29

460,427‌

600,000

Motorola

Solutions,

Inc

2

.300

11/15/30

450,838‌

2,250,000

Motorola

Solutions,

Inc

2

.750

05/24/31

1,717,188‌

500,000

Motorola

Solutions,

Inc

5

.600

06/01/32

477,996‌

200,000

Motorola

Solutions,

Inc

5

.500

09/01/44

169,999‌

200,000

NetApp,

Inc

3

.300

09/29/24

194,572‌

500,000

NetApp,

Inc

1

.875

06/22/25

456,577‌

500,000

NetApp,

Inc

2

.375

06/22/27

440,178‌

750,000

NetApp,

Inc

2

.700

06/22/30

609,448‌

2,000,000

Teledyne

Technologies,

Inc

1

.600

04/01/26

1,741,732‌

200,000

Tyco

Electronics

Group

S.A.

3

.450

08/01/24

195,837‌

100,000

Tyco

Electronics

Group

S.A.

3

.700

02/15/26

96,229‌

1,150,000

Tyco

Electronics

Group

S.A.

3

.125

08/15/27

1,050,299‌

900,000

Tyco

Electronics

Group

S.A.

2

.500

02/04/32

731,338‌

1,000,000

Vontier

Corp

1

.800

04/01/26

850,070‌

1,000,000

Vontier

Corp

2

.400

04/01/28

780,870‌

1,000,000

Vontier

Corp

2

.950

04/01/31

719,200‌

1,000,000

Western

Digital

Corp

2

.850

02/01/29

777,140‌

1,000,000

Western

Digital

Corp

3

.100

02/01/32

679,890‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

117,556,364‌

TELECOMMUNICATION

SERVICES

-

1

.0

%

1,000,000

America

Movil

SAB

de

C.V.

3

.625

04/22/29

899,117‌

1,000,000

America

Movil

SAB

de

C.V.

2

.875

05/07/30

839,820‌

440,000

America

Movil

SAB

de

C.V.

6

.125

03/30/40

437,175‌

1,625,000

America

Movil

SAB

de

C.V.

4

.375

07/16/42

1,319,356‌

1,500,000

e

America

Movil

SAB

de

C.V.

4

.375

04/22/49

1,230,810‌

10,000,000

AT&T,

Inc

1

.700

03/25/26

8,892,891‌

1,000,000

AT&T,

Inc

2

.950

07/15/26

918,208‌

1,150,000

AT&T,

Inc

1

.650

02/01/28

945,073‌

4,375,000

AT&T,

Inc

4

.350

03/01/29

4,090,229‌

3,000,000

AT&T,

Inc

2

.250

02/01/32

2,268,528‌

14,855,000

AT&T,

Inc

2

.550

12/01/33

10,997,803‌

1,825,000

AT&T,

Inc

4

.500

05/15/35

1,580,584‌

3,000,000

AT&T,

Inc

3

.500

06/01/41

2,160,846‌

300,000

AT&T,

Inc

4

.650

06/01/44

244,448‌

2,000,000

AT&T,

Inc

3

.650

06/01/51

1,351,113‌

11,860,000

AT&T,

Inc

3

.500

09/15/53

7,902,801‌

8,857,000

AT&T,

Inc

3

.550

09/15/55

5,817,596‌

6,844,000

AT&T,

Inc

3

.800

12/01/57

4,623,427‌

8,523,000

AT&T,

Inc

3

.650

09/15/59

5,522,055‌

1,000,000

AT&T,

Inc

3

.850

06/01/60

669,991‌

1,000,000

Bell

Canada

3

.650

03/17/51

704,638‌

750,000

Bell

Canada,

Inc

4

.464

04/01/48

603,321‌

750,000

Bell

Canada,

Inc

4

.300

07/29/49

596,770‌

1,000,000

Bell

Telephone

Co

of

Canada

or

Bell

Canada

2

.150

02/15/32

759,288‌

450,000

Bell

Telephone

Co

of

Canada

or

Bell

Canada

3

.200

02/15/52

292,049‌

1,000,000

Bell

Telephone

Co

of

Canada

or

Bell

Canada

3

.650

08/15/52

705,785‌

750,000

British

Telecommunications

plc

4

.500

12/04/23

743,146‌

750,000

British

Telecommunications

plc

5

.125

12/04/28

704,636‌

1,425,000

British

Telecommunications

plc

9

.625

12/15/30

1,646,376‌

2,690,000

Deutsche

Telekom

International

Finance

BV

8

.750

06/15/30

3,081,920‌

745,000

Orange

S.A.

9

.000

03/01/31

893,806‌

900,000

Orange

S.A.

5

.375

01/13/42

842,006‌

725,000

Orange

S.A.

5

.500

02/06/44

689,251‌

200,000

Rogers

Communications,

Inc

4

.100

10/01/23

198,433‌

1,713,000

Rogers

Communications,

Inc

3

.625

12/15/25

1,619,067‌

200,000

Rogers

Communications,

Inc

2

.900

11/15/26

180,965‌

2,000,000

g

Rogers

Communications,

Inc

3

.200

03/15/27

1,826,725‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

116

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TELECOMMUNICATION

SERVICES—continued

$

1,500,000

g

Rogers

Communications,

Inc

3

.800

%

03/15/32

$

1,297,277‌

1,000,000

g

Rogers

Communications,

Inc

4

.500

03/15/42

805,910‌

125,000

Rogers

Communications,

Inc

4

.500

03/15/43

98,877‌

300,000

Rogers

Communications,

Inc

5

.450

10/01/43

266,345‌

600,000

Rogers

Communications,

Inc

5

.000

03/15/44

492,055‌

150,000

Rogers

Communications,

Inc

4

.300

02/15/48

113,326‌

1,500,000

Rogers

Communications,

Inc

4

.350

05/01/49

1,143,195‌

1,300,000

Rogers

Communications,

Inc

3

.700

11/15/49

889,089‌

1,000,000

g

Rogers

Communications,

Inc

4

.550

03/15/52

797,571‌

1,500,000

Telefonica

Emisiones

SAU

4

.103

03/08/27

1,387,825‌

625,000

Telefonica

Emisiones

SAU

7

.045

06/20/36

614,513‌

1,200,000

Telefonica

Emisiones

SAU

4

.665

03/06/38

927,577‌

2,125,000

Telefonica

Emisiones

SAU

5

.213

03/08/47

1,616,620‌

1,175,000

Telefonica

Emisiones

SAU

4

.895

03/06/48

855,635‌

900,000

Telefonica

Emisiones

SAU

5

.520

03/01/49

714,508‌

567,000

Telefonica

Europe

BV

8

.250

09/15/30

613,237‌

325,000

TELUS

Corp

2

.800

02/16/27

294,757‌

300,000

TELUS

Corp

3

.700

09/15/27

280,548‌

1,000,000

TELUS

Corp

3

.400

05/13/32

831,490‌

500,000

TELUS

Corp

4

.600

11/16/48

418,324‌

750,000

TELUS

Corp

4

.300

06/15/49

599,367‌

4,000,000

T-Mobile

USA,

Inc

1

.500

02/15/26

3,510,839‌

4,000,000

T-Mobile

USA,

Inc

3

.750

04/15/27

3,691,363‌

3,500,000

T-Mobile

USA,

Inc

2

.050

02/15/28

2,904,314‌

1,000,000

T-Mobile

USA,

Inc

2

.400

03/15/29

816,174‌

825,000

T-Mobile

USA,

Inc

3

.875

04/15/30

731,788‌

1,500,000

T-Mobile

USA,

Inc

2

.550

02/15/31

1,188,436‌

1,500,000

T-Mobile

USA,

Inc

2

.250

11/15/31

1,130,437‌

1,000,000

T-Mobile

USA,

Inc

2

.700

03/15/32

780,467‌

4,000,000

T-Mobile

USA,

Inc

5

.200

01/15/33

3,825,622‌

650,000

T-Mobile

USA,

Inc

4

.375

04/15/40

529,285‌

1,350,000

T-Mobile

USA,

Inc

3

.000

02/15/41

902,261‌

3,875,000

T-Mobile

USA,

Inc

4

.500

04/15/50

3,102,147‌

2,500,000

T-Mobile

USA,

Inc

3

.300

02/15/51

1,628,747‌

2,500,000

T-Mobile

USA,

Inc

3

.400

10/15/52

1,650,469‌

3,000,000

T-Mobile

USA,

Inc

5

.650

01/15/53

2,833,845‌

1,500,000

T-Mobile

USA,

Inc

3

.600

11/15/60

962,695‌

2,000,000

T-Mobile

USA,

Inc

5

.800

09/15/62

1,859,285‌

1,000,000

Verizon

Communications,

Inc

0

.850

11/20/25

876,519‌

1,000,000

Verizon

Communications,

Inc

1

.450

03/20/26

882,950‌

2,625,000

Verizon

Communications,

Inc

3

.000

03/22/27

2,386,948‌

5,000,000

Verizon

Communications,

Inc

2

.100

03/22/28

4,221,067‌

6,641,000

Verizon

Communications,

Inc

4

.329

09/21/28

6,248,674‌

350,000

Verizon

Communications,

Inc

3

.875

02/08/29

319,508‌

9,005,000

Verizon

Communications,

Inc

4

.016

12/03/29

8,178,124‌

200,000

Verizon

Communications,

Inc

3

.150

03/22/30

170,117‌

1,550,000

Verizon

Communications,

Inc

1

.500

09/18/30

1,165,207‌

1,533,000

Verizon

Communications,

Inc

1

.680

10/30/30

1,148,879‌

3,000,000

Verizon

Communications,

Inc

1

.750

01/20/31

2,249,893‌

1,925,000

Verizon

Communications,

Inc

2

.550

03/21/31

1,536,974‌

13,355,000

Verizon

Communications,

Inc

2

.355

03/15/32

10,240,960‌

2,000,000

Verizon

Communications,

Inc

2

.650

11/20/40

1,303,513‌

1,350,000

Verizon

Communications,

Inc

3

.400

03/22/41

985,702‌

1,000,000

Verizon

Communications,

Inc

2

.850

09/03/41

666,760‌

150,000

Verizon

Communications,

Inc

4

.000

03/22/50

114,518‌

2,000,000

Verizon

Communications,

Inc

2

.875

11/20/50

1,223,018‌

2,725,000

Verizon

Communications,

Inc

3

.550

03/22/51

1,916,116‌

1,000,000

Verizon

Communications,

Inc

3

.875

03/01/52

743,734‌

8,764,000

Verizon

Communications,

Inc

2

.987

10/30/56

5,209,514‌

2,000,000

Verizon

Communications,

Inc

3

.000

11/20/60

1,161,609‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

117

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TELECOMMUNICATION

SERVICES—continued

$

5,000,000

Verizon

Communications,

Inc

3

.700

%

03/22/61

$

3,394,397‌

2,000,000

Vodafone

Group

plc

4

.125

05/30/25

1,962,281‌

4,425,000

Vodafone

Group

plc

4

.375

05/30/28

4,162,439‌

425,000

Vodafone

Group

plc

6

.150

02/27/37

401,320‌

925,000

Vodafone

Group

plc

5

.000

05/30/38

794,407‌

1,900,000

Vodafone

Group

plc

4

.375

02/19/43

1,453,417‌

1,450,000

Vodafone

Group

plc

5

.250

05/30/48

1,200,646‌

1,000,000

Vodafone

Group

plc

4

.875

06/19/49

786,012‌

1,500,000

Vodafone

Group

plc

4

.250

09/17/50

1,073,646‌

500,000

Vodafone

Group

plc

5

.125

06/19/59

405,218‌

TOTAL

TELECOMMUNICATION

SERVICES

194,490,360‌

TRANSPORTATION

-

0

.5

%

400,000

American

Airlines

2

.875

07/11/34

324,884‌

500,000

Burlington

Northern

Santa

Fe

LLC

3

.750

04/01/24

492,914‌

150,000

Burlington

Northern

Santa

Fe

LLC

3

.400

09/01/24

146,481‌

300,000

Burlington

Northern

Santa

Fe

LLC

3

.000

04/01/25

288,383‌

700,000

Burlington

Northern

Santa

Fe

LLC

3

.650

09/01/25

678,252‌

660,000

Burlington

Northern

Santa

Fe

LLC

5

.750

05/01/40

668,006‌

250,000

Burlington

Northern

Santa

Fe

LLC

5

.050

03/01/41

234,439‌

200,000

Burlington

Northern

Santa

Fe

LLC

4

.400

03/15/42

172,864‌

300,000

Burlington

Northern

Santa

Fe

LLC

4

.450

03/15/43

259,763‌

500,000

Burlington

Northern

Santa

Fe

LLC

5

.150

09/01/43

473,711‌

500,000

Burlington

Northern

Santa

Fe

LLC

4

.900

04/01/44

456,690‌

600,000

Burlington

Northern

Santa

Fe

LLC

4

.550

09/01/44

523,044‌

1,275,000

Burlington

Northern

Santa

Fe

LLC

4

.150

04/01/45

1,046,860‌

200,000

Burlington

Northern

Santa

Fe

LLC

4

.700

09/01/45

176,627‌

1,150,000

Burlington

Northern

Santa

Fe

LLC

3

.900

08/01/46

917,276‌

400,000

Burlington

Northern

Santa

Fe

LLC

4

.125

06/15/47

331,930‌

1,675,000

Burlington

Northern

Santa

Fe

LLC

4

.050

06/15/48

1,369,308‌

1,025,000

Burlington

Northern

Santa

Fe

LLC

4

.150

12/15/48

850,736‌

750,000

Burlington

Northern

Santa

Fe

LLC

3

.550

02/15/50

562,128‌

750,000

Burlington

Northern

Santa

Fe

LLC

3

.050

02/15/51

510,052‌

4,000,000

Burlington

Northern

Santa

Fe

LLC

3

.300

09/15/51

2,848,415‌

1,000,000

Burlington

Northern

Santa

Fe

LLC

4

.450

01/15/53

866,651‌

200,000

Canadian

National

Railway

Co

2

.950

11/21/24

192,911‌

200,000

Canadian

National

Railway

Co

6

.900

07/15/28

214,520‌

500,000

Canadian

National

Railway

Co

3

.850

08/05/32

455,831‌

200,000

Canadian

National

Railway

Co

6

.250

08/01/34

211,838‌

250,000

Canadian

National

Railway

Co

3

.500

11/15/42

181,520‌

100,000

Canadian

National

Railway

Co

4

.500

11/07/43

82,003‌

650,000

Canadian

National

Railway

Co

3

.200

08/02/46

465,831‌

725,000

Canadian

National

Railway

Co

3

.650

02/03/48

558,791‌

325,000

Canadian

National

Railway

Co

4

.450

01/20/49

282,156‌

400,000

Canadian

National

Railway

Co

2

.450

05/01/50

240,924‌

1,500,000

Canadian

National

Railway

Co

4

.400

08/05/52

1,291,481‌

1,800,000

Canadian

Pacific

Railway

Co

2

.900

02/01/25

1,711,264‌

2,000,000

Canadian

Pacific

Railway

Co

1

.750

12/02/26

1,751,253‌

300,000

Canadian

Pacific

Railway

Co

4

.000

06/01/28

283,829‌

100,000

Canadian

Pacific

Railway

Co

2

.050

03/05/30

80,166‌

200,000

Canadian

Pacific

Railway

Co

7

.125

10/15/31

218,106‌

600,000

Canadian

Pacific

Railway

Co

2

.450

12/02/31

479,948‌

250,000

Canadian

Pacific

Railway

Co

5

.950

05/15/37

252,011‌

475,000

Canadian

Pacific

Railway

Co

3

.000

12/02/41

336,412‌

1,000,000

Canadian

Pacific

Railway

Co

3

.100

12/02/51

656,450‌

1,275,000

Canadian

Pacific

Railway

Co

6

.125

09/15/15

1,202,602‌

400,000

CH

Robinson

Worldwide,

Inc

4

.200

04/15/28

372,027‌

300,000

CSX

Corp

3

.400

08/01/24

292,545‌

200,000

CSX

Corp

3

.350

11/01/25

190,157‌

1,200,000

CSX

Corp

2

.600

11/01/26

1,091,068‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

118

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TRANSPORTATION—continued

$

825,000

CSX

Corp

4

.250

%

03/15/29

$

777,548‌

600,000

CSX

Corp

2

.400

02/15/30

495,782‌

850,000

CSX

Corp

4

.100

11/15/32

771,901‌

100,000

CSX

Corp

6

.000

10/01/36

101,629‌

200,000

CSX

Corp

6

.150

05/01/37

207,193‌

400,000

CSX

Corp

5

.500

04/15/41

386,314‌

350,000

CSX

Corp

4

.400

03/01/43

292,747‌

600,000

CSX

Corp

4

.100

03/15/44

481,984‌

800,000

CSX

Corp

3

.800

11/01/46

610,335‌

1,050,000

CSX

Corp

4

.300

03/01/48

864,892‌

850,000

CSX

Corp

4

.750

11/15/48

749,689‌

500,000

CSX

Corp

4

.500

03/15/49

423,288‌

600,000

CSX

Corp

3

.350

09/15/49

422,170‌

1,000,000

CSX

Corp

3

.800

04/15/50

754,928‌

200,000

CSX

Corp

3

.950

05/01/50

156,459‌

800,000

CSX

Corp

2

.500

05/15/51

478,826‌

750,000

CSX

Corp

4

.500

11/15/52

629,956‌

300,000

CSX

Corp

4

.500

08/01/54

248,175‌

150,000

CSX

Corp

4

.250

11/01/66

114,000‌

800,000

CSX

Corp

4

.650

03/01/68

645,766‌

500,000

FedEx

Corp

3

.250

04/01/26

471,980‌

500,000

FedEx

Corp

4

.200

10/17/28

467,340‌

1,000,000

e

FedEx

Corp

3

.100

08/05/29

859,729‌

500,000

FedEx

Corp

4

.250

05/15/30

453,329‌

1,500,000

e

FedEx

Corp

2

.400

05/15/31

1,168,426‌

1,000,000

FedEx

Corp

4

.900

01/15/34

916,972‌

200,000

FedEx

Corp

3

.900

02/01/35

164,581‌

2,000,000

FedEx

Corp

3

.250

05/15/41

1,374,025‌

275,000

FedEx

Corp

5

.100

01/15/44

232,240‌

1,100,000

FedEx

Corp

4

.750

11/15/45

886,336‌

600,000

FedEx

Corp

4

.550

04/01/46

474,686‌

450,000

FedEx

Corp

4

.400

01/15/47

348,683‌

900,000

FedEx

Corp

4

.050

02/15/48

659,525‌

500,000

FedEx

Corp

4

.950

10/17/48

422,467‌

1,500,000

e

FedEx

Corp

5

.250

05/15/50

1,312,673‌

200,000

FedEx

Corp

4

.500

02/01/65

147,065‌

1,000,000

GXO

Logistics,

Inc

1

.650

07/15/26

817,091‌

1,000,000

GXO

Logistics,

Inc

2

.650

07/15/31

708,013‌

500,000

JB

Hunt

Transport

Services,

Inc

3

.875

03/01/26

480,395‌

100,000

Kansas

City

Southern

3

.125

06/01/26

93,325‌

500,000

Kansas

City

Southern

2

.875

11/15/29

424,801‌

100,000

Kansas

City

Southern

4

.300

05/15/43

80,971‌

175,000

Kansas

City

Southern

4

.950

08/15/45

153,936‌

800,000

Kansas

City

Southern

4

.700

05/01/48

685,136‌

500,000

Kansas

City

Southern

3

.500

05/01/50

348,566‌

500,000

Kansas

City

Southern

4

.200

11/15/69

362,705‌

350,000

Kirby

Corp

4

.200

03/01/28

309,544‌

350,000

Norfolk

Southern

Corp

2

.900

06/15/26

325,186‌

300,000

Norfolk

Southern

Corp

3

.150

06/01/27

274,142‌

700,000

Norfolk

Southern

Corp

3

.800

08/01/28

650,021‌

1,000,000

e

Norfolk

Southern

Corp

3

.000

03/15/32

836,161‌

16,000

Norfolk

Southern

Corp

4

.837

10/01/41

14,262‌

300,000

Norfolk

Southern

Corp

4

.450

06/15/45

249,782‌

200,000

Norfolk

Southern

Corp

4

.650

01/15/46

173,608‌

303,000

Norfolk

Southern

Corp

3

.942

11/01/47

235,043‌

1,450,000

Norfolk

Southern

Corp

4

.150

02/28/48

1,159,717‌

500,000

Norfolk

Southern

Corp

4

.100

05/15/49

394,219‌

500,000

Norfolk

Southern

Corp

3

.400

11/01/49

349,859‌

1,000,000

Norfolk

Southern

Corp

3

.050

05/15/50

651,687‌

1,000,000

Norfolk

Southern

Corp

2

.900

08/25/51

633,345‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

119

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TRANSPORTATION—continued

$

175,000

Norfolk

Southern

Corp

4

.050

%

08/15/52

$

134,437‌

1,000,000

Norfolk

Southern

Corp

3

.700

03/15/53

725,932‌

300,000

Norfolk

Southern

Corp

4

.550

06/01/53

254,309‌

1,170,000

Norfolk

Southern

Corp

3

.155

05/15/55

747,834‌

1,000,000

Norfolk

Southern

Corp

4

.100

05/15/21

663,464‌

200,000

Ryder

System,

Inc

3

.400

03/01/23

198,143‌

200,000

Ryder

System,

Inc

3

.875

12/01/23

197,397‌

550,000

Ryder

System,

Inc

3

.650

03/18/24

540,011‌

500,000

Ryder

System,

Inc

2

.500

09/01/24

477,224‌

300,000

Ryder

System,

Inc

4

.625

06/01/25

294,260‌

500,000

Ryder

System,

Inc

3

.350

09/01/25

472,981‌

1,000,000

Ryder

System,

Inc

1

.750

09/01/26

882,660‌

500,000

Ryder

System,

Inc

2

.900

12/01/26

447,396‌

1,000,000

Ryder

System,

Inc

2

.850

03/01/27

896,412‌

1,000,000

Ryder

System,

Inc

4

.300

06/15/27

945,972‌

200,000

Southwest

Airlines

Co

2

.750

11/16/22

199,717‌

1,250,000

Southwest

Airlines

Co

5

.250

05/04/25

1,248,716‌

200,000

Southwest

Airlines

Co

3

.000

11/15/26

181,814‌

1,000,000

Southwest

Airlines

Co

5

.125

06/15/27

979,016‌

200,000

Southwest

Airlines

Co

3

.450

11/16/27

180,559‌

300,000

Southwest

Airlines

Co

2

.625

02/10/30

240,651‌

277,000

Union

Pacific

Corp

3

.646

02/15/24

272,902‌

300,000

Union

Pacific

Corp

3

.150

03/01/24

293,725‌

200,000

Union

Pacific

Corp

3

.750

03/15/24

197,099‌

200,000

Union

Pacific

Corp

3

.250

01/15/25

193,500‌

500,000

Union

Pacific

Corp

3

.750

07/15/25

487,648‌

200,000

Union

Pacific

Corp

3

.250

08/15/25

192,476‌

300,000

Union

Pacific

Corp

2

.750

03/01/26

279,633‌

2,500,000

Union

Pacific

Corp

2

.375

05/20/31

2,032,266‌

1,000,000

Union

Pacific

Corp

2

.800

02/14/32

832,957‌

500,000

Union

Pacific

Corp

4

.500

01/20/33

474,814‌

100,000

Union

Pacific

Corp

3

.375

02/01/35

81,400‌

2,525,000

Union

Pacific

Corp

2

.891

04/06/36

1,924,045‌

100,000

Union

Pacific

Corp

3

.600

09/15/37

81,147‌

500,000

Union

Pacific

Corp

3

.550

08/15/39

396,016‌

1,500,000

Union

Pacific

Corp

3

.200

05/20/41

1,118,092‌

500,000

Union

Pacific

Corp

3

.375

02/14/42

380,149‌

200,000

Union

Pacific

Corp

3

.350

08/15/46

144,323‌

300,000

Union

Pacific

Corp

4

.000

04/15/47

239,691‌

4,000,000

Union

Pacific

Corp

3

.250

02/05/50

2,819,528‌

1,070,000

Union

Pacific

Corp

3

.799

10/01/51

824,118‌

500,000

Union

Pacific

Corp

2

.950

03/10/52

329,497‌

1,000,000

Union

Pacific

Corp

3

.500

02/14/53

724,201‌

200,000

Union

Pacific

Corp

3

.875

02/01/55

152,501‌

300,000

Union

Pacific

Corp

3

.950

08/15/59

227,490‌

1,000,000

Union

Pacific

Corp

3

.839

03/20/60

742,544‌

1,500,000

Union

Pacific

Corp

3

.550

05/20/61

1,044,238‌

2,000,000

Union

Pacific

Corp

2

.973

09/16/62

1,210,743‌

200,000

Union

Pacific

Corp

4

.100

09/15/67

151,022‌

500,000

Union

Pacific

Corp

3

.750

02/05/70

349,497‌

500,000

Union

Pacific

Corp

3

.799

04/06/71

351,840‌

500,000

Union

Pacific

Corp

3

.850

02/14/72

357,573‌

500,000

United

Parcel

Service,

Inc

2

.200

09/01/24

477,490‌

300,000

United

Parcel

Service,

Inc

2

.800

11/15/24

290,146‌

125,000

United

Parcel

Service,

Inc

2

.400

11/15/26

114,736‌

875,000

United

Parcel

Service,

Inc

3

.050

11/15/27

811,646‌

500,000

United

Parcel

Service,

Inc

3

.400

03/15/29

459,048‌

500,000

United

Parcel

Service,

Inc

2

.500

09/01/29

429,246‌

750,000

e

United

Parcel

Service,

Inc

4

.450

04/01/30

728,530‌

510,000

United

Parcel

Service,

Inc

6

.200

01/15/38

551,513‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

120

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TRANSPORTATION—continued

$

450,000

United

Parcel

Service,

Inc

3

.625

%

10/01/42

$

355,874‌

400,000

United

Parcel

Service,

Inc

3

.400

11/15/46

298,217‌

1,550,000

United

Parcel

Service,

Inc

3

.750

11/15/47

1,239,677‌

300,000

United

Parcel

Service,

Inc

4

.250

03/15/49

259,035‌

500,000

e

United

Parcel

Service,

Inc

3

.400

09/01/49

377,297‌

1,630,000

United

Parcel

Service,

Inc

5

.300

04/01/50

1,629,134‌

TOTAL

TRANSPORTATION

95,517,381‌

UTILITIES

-

2

.1

%

200,000

AEP

Texas,

Inc

3

.950

06/01/28

184,584‌

550,000

AEP

Texas,

Inc

2

.100

07/01/30

428,953‌

500,000

AEP

Texas,

Inc

4

.700

05/15/32

460,360‌

200,000

AEP

Texas,

Inc

3

.800

10/01/47

142,912‌

100,000

AEP

Texas,

Inc

4

.150

05/01/49

75,789‌

850,000

AEP

Texas,

Inc

3

.450

05/15/51

581,845‌

200,000

AEP

Transmission

Co

LLC

3

.100

12/01/26

186,539‌

600,000

AEP

Transmission

Co

LLC

4

.000

12/01/46

469,922‌

500,000

AEP

Transmission

Co

LLC

3

.750

12/01/47

376,996‌

200,000

AEP

Transmission

Co

LLC

4

.250

09/15/48

163,180‌

300,000

AEP

Transmission

Co

LLC

3

.800

06/15/49

226,946‌

550,000

AEP

Transmission

Co

LLC

2

.750

08/15/51

343,643‌

600,000

AES

Corp

1

.375

01/15/26

516,848‌

675,000

AES

Corp

2

.450

01/15/31

516,379‌

475,000

Alabama

Power

Co

3

.550

12/01/23

468,077‌

500,000

Alabama

Power

Co

3

.750

09/01/27

471,936‌

575,000

Alabama

Power

Co

1

.450

09/15/30

440,165‌

200,000

Alabama

Power

Co

3

.850

12/01/42

156,899‌

400,000

Alabama

Power

Co

3

.750

03/01/45

300,822‌

300,000

Alabama

Power

Co

4

.300

01/02/46

247,107‌

350,000

Alabama

Power

Co

3

.700

12/01/47

263,210‌

1,000,000

Alabama

Power

Co

4

.300

07/15/48

825,000‌

1,000,000

Alabama

Power

Co

3

.125

07/15/51

668,605‌

1,000,000

Alabama

Power

Co

3

.000

03/15/52

653,078‌

350,000

Ameren

Corp

2

.500

09/15/24

332,204‌

2,000,000

Ameren

Corp

1

.750

03/15/28

1,650,859‌

300,000

Ameren

Illinois

Co

3

.800

05/15/28

279,363‌

750,000

Ameren

Illinois

Co

1

.550

11/15/30

574,308‌

500,000

Ameren

Illinois

Co

3

.850

09/01/32

450,522‌

125,000

Ameren

Illinois

Co

4

.150

03/15/46

102,846‌

1,150,000

Ameren

Illinois

Co

3

.700

12/01/47

872,581‌

575,000

Ameren

Illinois

Co

4

.500

03/15/49

490,917‌

325,000

Ameren

Illinois

Co

2

.900

06/15/51

209,318‌

350,000

American

Electric

Power

Co,

Inc

3

.200

11/13/27

319,011‌

700,000

American

Electric

Power

Co,

Inc

4

.300

12/01/28

653,993‌

500,000

American

Electric

Power

Co,

Inc

2

.300

03/01/30

398,223‌

1,000,000

American

Electric

Power

Co,

Inc

3

.875

02/15/62

783,766‌

500,000

American

Water

Capital

Corp

3

.850

03/01/24

493,662‌

300,000

American

Water

Capital

Corp

3

.400

03/01/25

289,221‌

200,000

American

Water

Capital

Corp

2

.950

09/01/27

181,523‌

500,000

e

American

Water

Capital

Corp

3

.750

09/01/28

462,330‌

750,000

American

Water

Capital

Corp

3

.450

06/01/29

667,917‌

100,000

American

Water

Capital

Corp

2

.800

05/01/30

84,506‌

2,000,000

American

Water

Capital

Corp

2

.300

06/01/31

1,585,304‌

225,000

American

Water

Capital

Corp

4

.300

12/01/42

187,340‌

150,000

American

Water

Capital

Corp

4

.300

09/01/45

121,124‌

100,000

American

Water

Capital

Corp

4

.000

12/01/46

78,018‌

1,175,000

American

Water

Capital

Corp

3

.750

09/01/47

881,735‌

500,000

American

Water

Capital

Corp

4

.200

09/01/48

400,784‌

500,000

American

Water

Capital

Corp

4

.150

06/01/49

399,912‌

675,000

American

Water

Capital

Corp

3

.450

05/01/50

482,100‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

121

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

2,000,000

American

Water

Capital

Corp

3

.250

%

06/01/51

$

1,395,493‌

200,000

Appalachian

Power

Co

3

.300

06/01/27

183,688‌

1,000,000

Appalachian

Power

Co

2

.700

04/01/31

799,180‌

500,000

Appalachian

Power

Co

4

.500

08/01/32

450,104‌

300,000

Appalachian

Power

Co

4

.500

03/01/49

243,561‌

775,000

Appalachian

Power

Co

3

.700

05/01/50

548,206‌

125,000

Aqua

America,

Inc

3

.566

05/01/29

110,478‌

200,000

Aqua

America,

Inc

4

.276

05/01/49

155,370‌

200,000

Arizona

Public

Service

Co

2

.950

09/15/27

177,881‌

1,000,000

Arizona

Public

Service

Co

2

.600

08/15/29

824,075‌

350,000

Arizona

Public

Service

Co

4

.500

04/01/42

283,521‌

200,000

Arizona

Public

Service

Co

4

.350

11/15/45

154,436‌

410,000

Arizona

Public

Service

Co

3

.750

05/15/46

294,704‌

200,000

Arizona

Public

Service

Co

4

.200

08/15/48

153,418‌

200,000

Arizona

Public

Service

Co

4

.250

03/01/49

152,576‌

300,000

Arizona

Public

Service

Co

3

.500

12/01/49

201,560‌

500,000

Arizona

Public

Service

Co

3

.350

05/15/50

326,898‌

750,000

Arizona

Public

Service

Co

2

.650

09/15/50

428,468‌

900,000

Atlantic

City

Electric

Co

4

.000

10/15/28

841,538‌

425,000

Atlantic

City

Electric

Co

2

.300

03/15/31

344,363‌

650,000

Atmos

Energy

Corp

3

.000

06/15/27

596,214‌

1,500,000

Atmos

Energy

Corp

2

.625

09/15/29

1,278,531‌

750,000

Atmos

Energy

Corp

1

.500

01/15/31

563,891‌

175,000

Atmos

Energy

Corp

5

.450

10/15/32

177,091‌

100,000

Atmos

Energy

Corp

5

.500

06/15/41

97,691‌

125,000

Atmos

Energy

Corp

4

.150

01/15/43

103,312‌

600,000

Atmos

Energy

Corp

4

.125

10/15/44

485,390‌

500,000

Atmos

Energy

Corp

4

.300

10/01/48

420,520‌

300,000

Atmos

Energy

Corp

4

.125

03/15/49

241,676‌

500,000

Atmos

Energy

Corp

3

.375

09/15/49

353,697‌

1,500,000

Atmos

Energy

Corp

2

.850

02/15/52

948,137‌

500,000

Atmos

Energy

Corp

5

.750

10/15/52

499,026‌

500,000

Avangrid,

Inc

3

.150

12/01/24

478,013‌

300,000

Avangrid,

Inc

3

.200

04/15/25

283,699‌

625,000

Avangrid,

Inc

3

.800

06/01/29

555,389‌

150,000

Avista

Corp

4

.350

06/01/48

126,412‌

550,000

Avista

Corp

4

.000

04/01/52

429,453‌

200,000

Baltimore

Gas

&

Electric

Co

2

.400

08/15/26

181,335‌

150,000

Baltimore

Gas

&

Electric

Co

3

.500

08/15/46

110,473‌

200,000

Baltimore

Gas

&

Electric

Co

3

.750

08/15/47

154,481‌

200,000

Baltimore

Gas

&

Electric

Co

4

.250

09/15/48

166,183‌

500,000

Baltimore

Gas

&

Electric

Co

3

.200

09/15/49

344,957‌

775,000

Baltimore

Gas

&

Electric

Co

2

.900

06/15/50

503,172‌

1,500,000

Baltimore

Gas

and

Electric

Co

2

.250

06/15/31

1,197,383‌

500,000

Baltimore

Gas

and

Electric

Co

4

.550

06/01/52

429,012‌

350,000

Berkshire

Hathaway

Energy

Co

3

.500

02/01/25

339,942‌

175,000

Berkshire

Hathaway

Energy

Co

3

.250

04/15/28

158,714‌

2,500,000

Berkshire

Hathaway

Energy

Co

1

.650

05/15/31

1,889,955‌

950,000

Berkshire

Hathaway

Energy

Co

6

.125

04/01/36

971,172‌

1,032,000

Berkshire

Hathaway

Energy

Co

5

.950

05/15/37

1,028,940‌

725,000

Berkshire

Hathaway

Energy

Co

5

.150

11/15/43

659,125‌

975,000

Berkshire

Hathaway

Energy

Co

4

.500

02/01/45

813,433‌

1,250,000

Berkshire

Hathaway

Energy

Co

3

.800

07/15/48

940,716‌

1,025,000

Berkshire

Hathaway

Energy

Co

4

.450

01/15/49

858,555‌

2,500,000

Berkshire

Hathaway

Energy

Co

2

.850

05/15/51

1,538,729‌

200,000

Black

Hills

Corp

4

.250

11/30/23

199,139‌

100,000

Black

Hills

Corp

3

.950

01/15/26

95,798‌

100,000

Black

Hills

Corp

3

.150

01/15/27

91,555‌

550,000

Black

Hills

Corp

2

.500

06/15/30

432,939‌

300,000

Black

Hills

Corp

4

.350

05/01/33

262,257‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

122

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

200,000

e

Black

Hills

Corp

4

.200

%

09/15/46

$

149,601‌

200,000

CenterPoint

Energy

Houston

Electric

LLC

2

.400

09/01/26

181,506‌

300,000

CenterPoint

Energy

Houston

Electric

LLC

3

.000

02/01/27

278,904‌

275,000

CenterPoint

Energy

Houston

Electric

LLC

2

.350

04/01/31

224,359‌

500,000

CenterPoint

Energy

Houston

Electric

LLC

4

.450

10/01/32

474,014‌

100,000

CenterPoint

Energy

Houston

Electric

LLC

6

.950

03/15/33

111,040‌

300,000

CenterPoint

Energy

Houston

Electric

LLC

3

.950

03/01/48

239,670‌

150,000

CenterPoint

Energy

Houston

Electric

LLC

2

.900

07/01/50

98,797‌

875,000

CenterPoint

Energy

Houston

Electric

LLC

3

.350

04/01/51

627,303‌

500,000

CenterPoint

Energy

Houston

Electric

LLC

3

.600

03/01/52

373,882‌

500,000

CenterPoint

Energy

Houston

Electric

LLC

4

.850

10/01/52

459,105‌

1,000,000

CenterPoint

Energy

Resources

Corp

0

.700

03/02/23

981,598‌

200,000

CenterPoint

Energy

Resources

Corp

4

.000

04/01/28

185,488‌

575,000

CenterPoint

Energy

Resources

Corp

1

.750

10/01/30

442,386‌

500,000

e

CenterPoint

Energy

Resources

Corp

4

.400

07/01/32

464,853‌

700,000

CenterPoint

Energy

Resources

Corp

4

.100

09/01/47

563,076‌

500,000

CenterPoint

Energy,

Inc

2

.500

09/01/24

475,754‌

135,000

CenterPoint

Energy,

Inc

4

.250

11/01/28

123,234‌

750,000

CenterPoint

Energy,

Inc

2

.950

03/01/30

629,268‌

1,000,000

CenterPoint

Energy,

Inc

2

.650

06/01/31

798,753‌

500,000

CenterPoint

Energy,

Inc

3

.700

09/01/49

356,292‌

3,200,000

Cheniere

Corpus

Christi

Holdings

LLC

3

.700

11/15/29

2,775,089‌

2,000,000

Cheniere

Corpus

Christi

Holdings

LLC

2

.742

12/31/39

1,442,454‌

425,000

Cleco

Corporate

Holdings

LLC

3

.743

05/01/26

395,840‌

300,000

Cleco

Corporate

Holdings

LLC

3

.375

09/15/29

252,160‌

200,000

Cleco

Corporate

Holdings

LLC

4

.973

05/01/46

169,415‌

790,000

CMS

Energy

Corp

3

.450

08/15/27

715,482‌

1,000,000

CMS

Energy

Corp

3

.750

12/01/50

735,000‌

250,000

Commonwealth

Edison

Co

2

.550

06/15/26

230,392‌

300,000

Commonwealth

Edison

Co

3

.700

08/15/28

278,009‌

500,000

Commonwealth

Edison

Co

2

.200

03/01/30

411,132‌

1,000,000

e

Commonwealth

Edison

Co

3

.150

03/15/32

858,714‌

200,000

Commonwealth

Edison

Co

3

.800

10/01/42

158,521‌

300,000

Commonwealth

Edison

Co

4

.700

01/15/44

264,614‌

100,000

Commonwealth

Edison

Co

3

.700

03/01/45

75,071‌

250,000

Commonwealth

Edison

Co

3

.650

06/15/46

187,624‌

400,000

Commonwealth

Edison

Co

3

.750

08/15/47

308,212‌

1,175,000

Commonwealth

Edison

Co

4

.000

03/01/48

941,210‌

1,300,000

Commonwealth

Edison

Co

4

.000

03/01/49

1,034,556‌

500,000

Commonwealth

Edison

Co

3

.200

11/15/49

346,148‌

500,000

Commonwealth

Edison

Co

3

.000

03/01/50

332,990‌

1,000,000

Commonwealth

Edison

Co

3

.125

03/15/51

677,288‌

500,000

Commonwealth

Edison

Co

2

.750

09/01/51

314,548‌

625,000

Connecticut

Light

&

Power

Co

3

.200

03/15/27

581,976‌

400,000

Connecticut

Light

&

Power

Co

4

.300

04/15/44

336,819‌

250,000

Connecticut

Light

&

Power

Co

4

.150

06/01/45

204,300‌

775,000

Connecticut

Light

&

Power

Co

4

.000

04/01/48

631,850‌

500,000

Connecticut

Light

and

Power

Co

2

.050

07/01/31

394,495‌

200,000

Consolidated

Edison

Co

of

New

York,

Inc

3

.800

05/15/28

187,044‌

300,000

Consolidated

Edison

Co

of

New

York,

Inc

4

.000

12/01/28

281,234‌

100,000

Consolidated

Edison

Co

of

New

York,

Inc

3

.350

04/01/30

87,859‌

2,000,000

Consolidated

Edison

Co

of

New

York,

Inc

2

.400

06/15/31

1,597,591‌

200,000

Consolidated

Edison

Co

of

New

York,

Inc

4

.200

03/15/42

160,372‌

550,000

Consolidated

Edison

Co

of

New

York,

Inc

3

.950

03/01/43

428,773‌

1,475,000

Consolidated

Edison

Co

of

New

York,

Inc

4

.450

03/15/44

1,222,129‌

150,000

Consolidated

Edison

Co

of

New

York,

Inc

4

.500

12/01/45

124,288‌

400,000

Consolidated

Edison

Co

of

New

York,

Inc

3

.850

06/15/46

302,830‌

400,000

Consolidated

Edison

Co

of

New

York,

Inc

3

.875

06/15/47

303,294‌

300,000

Consolidated

Edison

Co

of

New

York,

Inc

4

.650

12/01/48

255,375‌

500,000

Consolidated

Edison

Co

of

New

York,

Inc

4

.125

05/15/49

388,039‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

123

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

700,000

Consolidated

Edison

Co

of

New

York,

Inc

3

.950

%

04/01/50

$

538,366‌

1,000,000

Consolidated

Edison

Co

of

New

York,

Inc

3

.200

12/01/51

663,525‌

850,000

Consolidated

Edison

Co

of

New

York,

Inc

4

.625

12/01/54

697,191‌

200,000

Consolidated

Edison

Co

of

New

York,

Inc

4

.300

12/01/56

154,341‌

1,300,000

Consolidated

Edison

Co

of

New

York,

Inc

4

.000

11/15/57

945,379‌

400,000

Consolidated

Edison

Co

of

New

York,

Inc

4

.500

05/15/58

315,210‌

1,000,000

Consolidated

Edison

Co

of

New

York,

Inc

3

.700

11/15/59

695,141‌

1,000,000

Consolidated

Edison

Co

of

New

York,

Inc

3

.000

12/01/60

594,841‌

1,000,000

Consolidated

Edison

Co

of

New

York,

Inc

3

.600

06/15/61

686,580‌

200,000

Consumers

Energy

Co

3

.375

08/15/23

198,141‌

250,000

Consumers

Energy

Co

3

.800

11/15/28

234,242‌

275,000

Consumers

Energy

Co

3

.600

08/15/32

245,227‌

600,000

Consumers

Energy

Co

3

.950

07/15/47

480,854‌

600,000

Consumers

Energy

Co

4

.050

05/15/48

485,927‌

350,000

Consumers

Energy

Co

4

.350

04/15/49

298,042‌

500,000

Consumers

Energy

Co

3

.750

02/15/50

385,138‌

500,000

Consumers

Energy

Co

3

.100

08/15/50

337,887‌

150,000

Consumers

Energy

Co

3

.500

08/01/51

110,394‌

500,000

Consumers

Energy

Co

2

.650

08/15/52

309,664‌

500,000

Consumers

Energy

Co

4

.200

09/01/52

414,586‌

1,000,000

Consumers

Energy

Co

2

.500

05/01/60

551,529‌

300,000

Dayton

Power

&

Light

Co

3

.950

06/15/49

230,588‌

200,000

Delmarva

Power

&

Light

Co

4

.150

05/15/45

159,976‌

925,000

Dominion

Energy

South

Carolina,

Inc

2

.300

12/01/31

728,613‌

300,000

Dominion

Energy,

Inc

3

.300

03/15/25

289,782‌

1,750,000

Dominion

Energy,

Inc

3

.900

10/01/25

1,680,639‌

1,000,000

Dominion

Energy,

Inc

1

.450

04/15/26

878,035‌

775,000

Dominion

Energy,

Inc

3

.600

03/15/27

723,660‌

500,000

Dominion

Energy,

Inc

4

.250

06/01/28

468,331‌

303,000

Dominion

Energy,

Inc

3

.375

04/01/30

260,572‌

500,000

e

Dominion

Energy,

Inc

2

.250

08/15/31

389,880‌

500,000

Dominion

Energy,

Inc

4

.350

08/15/32

452,129‌

475,000

Dominion

Energy,

Inc

3

.300

04/15/41

342,496‌

200,000

Dominion

Energy,

Inc

4

.700

12/01/44

168,642‌

500,000

Dominion

Energy,

Inc

4

.600

03/15/49

420,871‌

500,000

Dominion

Energy,

Inc

4

.850

08/15/52

425,501‌

225,000

Dominion

Energy,

Inc

(Step

Bond)

3

.071

08/15/24

215,771‌

200,000

DTE

Electric

Co

3

.650

03/15/24

196,973‌

500,000

DTE

Electric

Co

1

.900

04/01/28

425,453‌

1,500,000

DTE

Electric

Co

3

.000

03/01/32

1,264,429‌

200,000

DTE

Electric

Co

4

.000

04/01/43

163,183‌

100,000

DTE

Electric

Co

3

.700

06/01/46

76,876‌

500,000

DTE

Electric

Co

3

.750

08/15/47

387,329‌

1,000,000

DTE

Electric

Co

4

.050

05/15/48

814,576‌

525,000

DTE

Electric

Co

3

.950

03/01/49

420,991‌

1,000,000

DTE

Electric

Co

2

.950

03/01/50

670,110‌

400,000

DTE

Electric

Co

3

.250

04/01/51

280,520‌

450,000

DTE

Electric

Co

3

.650

03/01/52

339,773‌

1,000,000

DTE

Energy

Co

1

.050

06/01/25

895,057‌

327,000

DTE

Energy

Co

3

.400

06/15/29

286,287‌

500,000

DTE

Energy

Co

2

.950

03/01/30

418,789‌

1,500,000

DTE

Energy

Co

(Step

Bond)

4

.220

11/01/24

1,470,645‌

200,000

Duke

Energy

Carolinas

LLC

2

.950

12/01/26

185,446‌

500,000

Duke

Energy

Carolinas

LLC

3

.950

11/15/28

468,378‌

500,000

Duke

Energy

Carolinas

LLC

2

.450

08/15/29

424,318‌

1,500,000

Duke

Energy

Carolinas

LLC

2

.550

04/15/31

1,231,498‌

375,000

Duke

Energy

Carolinas

LLC

2

.850

03/15/32

310,525‌

125,000

Duke

Energy

Carolinas

LLC

5

.300

02/15/40

118,813‌

300,000

Duke

Energy

Carolinas

LLC

3

.750

06/01/45

227,665‌

200,000

Duke

Energy

Carolinas

LLC

3

.875

03/15/46

155,871‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

124

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

1,750,000

Duke

Energy

Carolinas

LLC

3

.700

%

12/01/47

$

1,306,533‌

1,500,000

Duke

Energy

Carolinas

LLC

3

.950

03/15/48

1,180,051‌

1,000,000

Duke

Energy

Carolinas

LLC

3

.200

08/15/49

687,843‌

1,500,000

Duke

Energy

Carolinas

LLC

3

.450

04/15/51

1,071,104‌

300,000

Duke

Energy

Corp

3

.950

10/15/23

296,567‌

2,700,000

Duke

Energy

Corp

2

.650

09/01/26

2,449,507‌

350,000

Duke

Energy

Corp

3

.150

08/15/27

316,681‌

1,000,000

Duke

Energy

Corp

4

.300

03/15/28

941,318‌

1,000,000

Duke

Energy

Corp

2

.450

06/01/30

799,031‌

1,000,000

Duke

Energy

Corp

2

.550

06/15/31

784,578‌

1,000,000

Duke

Energy

Corp

3

.300

06/15/41

697,399‌

300,000

Duke

Energy

Corp

4

.800

12/15/45

247,697‌

1,975,000

Duke

Energy

Corp

3

.750

09/01/46

1,398,598‌

500,000

Duke

Energy

Corp

4

.200

06/15/49

378,519‌

1,000,000

Duke

Energy

Corp

3

.500

06/15/51

672,270‌

500,000

Duke

Energy

Corp

5

.000

08/15/52

426,125‌

750,000

Duke

Energy

Corp

3

.250

01/15/82

549,797‌

1,200,000

Duke

Energy

Florida

LLC

3

.200

01/15/27

1,125,152‌

1,000,000

Duke

Energy

Florida

LLC

2

.400

12/15/31

794,821‌

375,000

Duke

Energy

Florida

LLC

6

.400

06/15/38

401,915‌

500,000

Duke

Energy

Florida

LLC

3

.400

10/01/46

352,313‌

300,000

Duke

Energy

Florida

LLC

4

.200

07/15/48

246,480‌

1,000,000

Duke

Energy

Florida

LLC

3

.000

12/15/51

657,868‌

300,000

Duke

Energy

Indiana

LLC

3

.750

05/15/46

224,779‌

500,000

Duke

Energy

Indiana

LLC

3

.250

10/01/49

339,141‌

275,000

Duke

Energy

Indiana

LLC

2

.750

04/01/50

170,759‌

200,000

Duke

Energy

Ohio,

Inc

3

.650

02/01/29

182,756‌

25,000

Duke

Energy

Ohio,

Inc

2

.125

06/01/30

19,948‌

200,000

Duke

Energy

Ohio,

Inc

3

.700

06/15/46

148,831‌

200,000

Duke

Energy

Ohio,

Inc

4

.300

02/01/49

161,507‌

300,000

Duke

Energy

Progress

LLC

3

.375

09/01/23

296,307‌

300,000

Duke

Energy

Progress

LLC

3

.250

08/15/25

287,406‌

300,000

Duke

Energy

Progress

LLC

3

.700

09/01/28

279,048‌

5,357,000

Duke

Energy

Progress

LLC

3

.450

03/15/29

4,857,174‌

1,500,000

Duke

Energy

Progress

LLC

2

.000

08/15/31

1,159,388‌

400,000

Duke

Energy

Progress

LLC

4

.375

03/30/44

334,036‌

500,000

Duke

Energy

Progress

LLC

4

.150

12/01/44

403,213‌

300,000

Duke

Energy

Progress

LLC

4

.200

08/15/45

242,971‌

500,000

Duke

Energy

Progress

LLC

3

.700

10/15/46

377,049‌

200,000

Duke

Energy

Progress

LLC

3

.600

09/15/47

150,288‌

600,000

Duke

Energy

Progress

LLC

2

.500

08/15/50

355,083‌

500,000

Duke

Energy

Progress

LLC

2

.900

08/15/51

324,566‌

1,000,000

DXC

Technology

Co

1

.800

09/15/26

857,124‌

200,000

Eastern

Energy

Gas

Holdings

LLC

3

.550

11/01/23

197,023‌

250,000

Eastern

Energy

Gas

Holdings

LLC

2

.500

11/15/24

237,154‌

134,000

Eastern

Energy

Gas

Holdings

LLC

3

.600

12/15/24

129,909‌

800,000

Edison

International

3

.550

11/15/24

768,052‌

750,000

Edison

International

5

.750

06/15/27

734,371‌

300,000

Edison

International

4

.125

03/15/28

267,644‌

200,000

El

Paso

Electric

Co

5

.000

12/01/44

172,579‌

1,075,000

Emera

US

Finance

LP

3

.550

06/15/26

998,336‌

2,000,000

Emera

US

Finance

LP

2

.639

06/15/31

1,555,701‌

625,000

Emera

US

Finance

LP

4

.750

06/15/46

490,852‌

50,000

e

Empresa

Nacional

de

Electricidad

S.A.

4

.250

04/15/24

48,375‌

675,000

Enel

Chile

S.A.

4

.875

06/12/28

624,688‌

400,000

e

Enersis

Americas

S.A.

4

.000

10/25/26

377,400‌

175,000

Entergy

Arkansas

LLC

3

.700

06/01/24

172,537‌

600,000

Entergy

Arkansas

LLC

3

.500

04/01/26

570,115‌

200,000

Entergy

Arkansas

LLC

4

.200

04/01/49

163,247‌

425,000

Entergy

Arkansas

LLC

2

.650

06/15/51

256,574‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

125

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

750,000

Entergy

Arkansas

LLC

3

.350

%

06/15/52

$

511,803‌

1,000,000

Entergy

Corp

0

.900

09/15/25

879,812‌

1,300,000

Entergy

Corp

2

.950

09/01/26

1,187,973‌

1,000,000

Entergy

Corp

1

.900

06/15/28

820,497‌

175,000

Entergy

Corp

2

.800

06/15/30

141,753‌

625,000

Entergy

Corp

2

.400

06/15/31

477,616‌

500,000

Entergy

Corp

3

.750

06/15/50

354,022‌

200,000

Entergy

Louisiana

LLC

4

.050

09/01/23

198,226‌

605,000

Entergy

Louisiana

LLC

0

.620

11/17/23

578,523‌

200,000

Entergy

Louisiana

LLC

2

.400

10/01/26

179,392‌

200,000

Entergy

Louisiana

LLC

3

.120

09/01/27

181,522‌

1,000,000

Entergy

Louisiana

LLC

1

.600

12/15/30

751,326‌

1,000,000

Entergy

Louisiana

LLC

2

.350

06/15/32

774,732‌

500,000

Entergy

Louisiana

LLC

4

.000

03/15/33

442,657‌

1,000,000

Entergy

Louisiana

LLC

3

.100

06/15/41

720,260‌

300,000

Entergy

Louisiana

LLC

4

.200

09/01/48

241,188‌

300,000

Entergy

Louisiana

LLC

4

.200

04/01/50

239,752‌

500,000

Entergy

Louisiana

LLC

4

.750

09/15/52

434,818‌

800,000

Entergy

Mississippi

LLC

3

.850

06/01/49

600,100‌

475,000

Entergy

Mississippi

LLC

3

.500

06/01/51

335,477‌

1,000,000

Entergy

Texas,

Inc

4

.000

03/30/29

924,706‌

575,000

Entergy

Texas,

Inc

1

.750

03/15/31

434,090‌

200,000

Entergy

Texas,

Inc

4

.500

03/30/39

166,823‌

700,000

Entergy

Texas,

Inc

3

.550

09/30/49

492,159‌

225,000

Essential

Utilities,

Inc

2

.704

04/15/30

184,164‌

1,000,000

Essential

Utilities,

Inc

2

.400

05/01/31

780,775‌

300,000

Essential

Utilities,

Inc

3

.351

04/15/50

197,226‌

500,000

Essential

Utilities,

Inc

5

.300

05/01/52

448,084‌

425,000

Evergy

Kansas

Central,

Inc

3

.450

04/15/50

301,219‌

150,000

Evergy

Metro,

Inc

2

.250

06/01/30

121,973‌

1,100,000

Evergy,

Inc

2

.450

09/15/24

1,040,481‌

100,000

Evergy,

Inc

2

.550

07/01/26

91,546‌

750,000

Evergy,

Inc

2

.900

09/15/29

619,603‌

300,000

Eversource

Energy

3

.800

12/01/23

296,251‌

300,000

Eversource

Energy

2

.900

10/01/24

287,633‌

100,000

Eversource

Energy

0

.800

08/15/25

88,428‌

1,000,000

Eversource

Energy

1

.400

08/15/26

866,554‌

200,000

Eversource

Energy

3

.300

01/15/28

180,454‌

300,000

Eversource

Energy

4

.250

04/01/29

278,246‌

100,000

Eversource

Energy

1

.650

08/15/30

75,361‌

1,000,000

Eversource

Energy

2

.550

03/15/31

800,629‌

1,000,000

Eversource

Energy

3

.375

03/01/32

841,261‌

1,100,000

Eversource

Energy

3

.450

01/15/50

761,148‌

425,000

Exelon

Corp

3

.400

04/15/26

400,054‌

1,500,000

g

Exelon

Corp

2

.750

03/15/27

1,343,911‌

1,000,000

e,g

Exelon

Corp

3

.350

03/15/32

838,311‌

500,000

Exelon

Corp

4

.950

06/15/35

456,721‌

975,000

Exelon

Corp

4

.450

04/15/46

795,838‌

100,000

Exelon

Corp

4

.700

04/15/50

83,629‌

500,000

g

Exelon

Corp

4

.100

03/15/52

385,767‌

1,500,000

Exelon

Generation

Co

LLC

3

.250

06/01/25

1,422,850‌

900,000

Exelon

Generation

Co

LLC

6

.250

10/01/39

879,480‌

625,000

Exelon

Generation

Co

LLC

5

.600

06/15/42

560,237‌

500,000

Florida

Power

&

Light

Co

3

.250

06/01/24

489,353‌

907,000

Florida

Power

&

Light

Co

3

.125

12/01/25

863,786‌

2,000,000

Florida

Power

&

Light

Co

2

.450

02/03/32

1,623,191‌

100,000

Florida

Power

&

Light

Co

4

.125

02/01/42

83,618‌

200,000

Florida

Power

&

Light

Co

4

.050

06/01/42

166,352‌

450,000

Florida

Power

&

Light

Co

3

.800

12/15/42

359,953‌

400,000

Florida

Power

&

Light

Co

4

.050

10/01/44

327,989‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

126

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

500,000

Florida

Power

&

Light

Co

3

.700

%

12/01/47

$

389,137‌

1,675,000

Florida

Power

&

Light

Co

3

.950

03/01/48

1,346,525‌

500,000

Florida

Power

&

Light

Co

4

.125

06/01/48

417,266‌

1,100,000

Florida

Power

&

Light

Co

3

.990

03/01/49

889,481‌

400,000

Florida

Power

&

Light

Co

3

.150

10/01/49

281,761‌

500,000

Florida

Power

&

Light

Co

2

.875

12/04/51

329,558‌

768,000

Fortis,

Inc

3

.055

10/04/26

698,475‌

600,000

Georgia

Power

Co

2

.200

09/15/24

567,928‌

100,000

Georgia

Power

Co

3

.250

04/01/26

93,719‌

700,000

Georgia

Power

Co

3

.250

03/30/27

639,535‌

700,000

Georgia

Power

Co

2

.650

09/15/29

579,844‌

625,000

Georgia

Power

Co

4

.300

03/15/42

498,712‌

700,000

Georgia

Power

Co

4

.300

03/15/43

557,097‌

2,500,000

Georgia

Power

Co

3

.250

03/15/51

1,648,752‌

200,000

Gulf

Power

Co

3

.300

05/30/27

185,409‌

250,000

Iberdrola

International

BV

5

.810

03/15/25

255,303‌

400,000

Iberdrola

International

BV

6

.750

07/15/36

416,049‌

500,000

Indiana

Michigan

Power

Co

3

.850

05/15/28

462,456‌

225,000

Indiana

Michigan

Power

Co

4

.550

03/15/46

187,989‌

100,000

Indiana

Michigan

Power

Co

3

.750

07/01/47

73,589‌

300,000

Indiana

Michigan

Power

Co

4

.250

08/15/48

238,696‌

675,000

Indiana

Michigan

Power

Co

3

.250

05/01/51

450,656‌

500,000

Interstate

Power

&

Light

Co

3

.250

12/01/24

482,738‌

725,000

Interstate

Power

&

Light

Co

4

.100

09/26/28

681,036‌

325,000

Interstate

Power

&

Light

Co

3

.600

04/01/29

293,920‌

125,000

Interstate

Power

&

Light

Co

2

.300

06/01/30

100,355‌

100,000

Interstate

Power

&

Light

Co

6

.250

07/15/39

102,027‌

100,000

Interstate

Power

&

Light

Co

3

.700

09/15/46

73,224‌

300,000

Interstate

Power

&

Light

Co

3

.500

09/30/49

213,872‌

1,000,000

Interstate

Power

and

Light

Co

3

.100

11/30/51

653,981‌

1,000,000

IPALCO

Enterprises,

Inc

3

.700

09/01/24

959,208‌

100,000

IPALCO

Enterprises,

Inc

4

.250

05/01/30

86,759‌

300,000

ITC

Holdings

Corp

3

.650

06/15/24

292,327‌

100,000

ITC

Holdings

Corp

3

.250

06/30/26

92,500‌

900,000

ITC

Holdings

Corp

3

.350

11/15/27

818,908‌

200,000

Kansas

City

Power

&

Light

Co

3

.650

08/15/25

193,155‌

100,000

Kansas

City

Power

&

Light

Co

5

.300

10/01/41

93,790‌

650,000

Kansas

City

Power

&

Light

Co

4

.200

06/15/47

528,192‌

100,000

Kansas

City

Power

&

Light

Co

4

.200

03/15/48

81,077‌

300,000

Kansas

City

Power

&

Light

Co

4

.125

04/01/49

239,991‌

300,000

Kentucky

Utilities

Co

4

.375

10/01/45

247,585‌

400,000

Kentucky

Utilities

Co

3

.300

06/01/50

278,004‌

250,000

KeySpan

Corp

5

.803

04/01/35

230,395‌

300,000

Louisville

Gas

&

Electric

Co

4

.250

04/01/49

241,741‌

1,500,000

MidAmerican

Energy

Co

3

.100

05/01/27

1,389,584‌

575,000

MidAmerican

Energy

Co

3

.650

04/15/29

530,171‌

200,000

MidAmerican

Energy

Co

4

.800

09/15/43

179,758‌

200,000

MidAmerican

Energy

Co

4

.400

10/15/44

169,846‌

200,000

MidAmerican

Energy

Co

4

.250

05/01/46

167,154‌

500,000

MidAmerican

Energy

Co

3

.950

08/01/47

396,355‌

1,000,000

MidAmerican

Energy

Co

3

.650

08/01/48

756,451‌

300,000

MidAmerican

Energy

Co

4

.250

07/15/49

249,637‌

300,000

MidAmerican

Energy

Co

3

.150

04/15/50

203,957‌

1,000,000

MidAmerican

Energy

Co

2

.700

08/01/52

628,062‌

500,000

Mississippi

Power

Co

3

.950

03/30/28

460,837‌

750,000

Mississippi

Power

Co

4

.250

03/15/42

599,463‌

1,000,000

Mississippi

Power

Co

3

.100

07/30/51

637,707‌

200,000

National

Fuel

Gas

Co

3

.750

03/01/23

198,920‌

300,000

National

Fuel

Gas

Co

5

.200

07/15/25

296,292‌

300,000

National

Fuel

Gas

Co

5

.500

01/15/26

294,622‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

127

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

200,000

National

Fuel

Gas

Co

3

.950

%

09/15/27

$

178,719‌

200,000

National

Fuel

Gas

Co

4

.750

09/01/28

184,413‌

1,100,000

National

Fuel

Gas

Co

2

.950

03/01/31

858,560‌

1,000,000

Nevada

Power

Co

3

.700

05/01/29

914,413‌

500,000

Nevada

Power

Co

2

.400

05/01/30

411,312‌

500,000

Nevada

Power

Co

3

.125

08/01/50

322,653‌

1,500,000

NextEra

Energy

Capital

Holdings,

Inc

4

.255

09/01/24

1,478,436‌

1,250,000

NextEra

Energy

Capital

Holdings,

Inc

4

.450

06/20/25

1,228,153‌

1,125,000

NextEra

Energy

Capital

Holdings,

Inc

3

.550

05/01/27

1,040,602‌

1,250,000

NextEra

Energy

Capital

Holdings,

Inc

4

.625

07/15/27

1,208,116‌

2,500,000

NextEra

Energy

Capital

Holdings,

Inc

1

.900

06/15/28

2,069,452‌

300,000

NextEra

Energy

Capital

Holdings,

Inc

3

.500

04/01/29

266,646‌

450,000

NextEra

Energy

Capital

Holdings,

Inc

2

.750

11/01/29

378,127‌

2,980,000

NextEra

Energy

Capital

Holdings,

Inc

2

.250

06/01/30

2,377,415‌

1,000,000

NextEra

Energy

Capital

Holdings,

Inc

2

.440

01/15/32

777,940‌

450,000

NextEra

Energy

Capital

Holdings,

Inc

5

.000

07/15/32

429,647‌

1,000,000

NextEra

Energy

Capital

Holdings,

Inc

3

.000

01/15/52

638,043‌

1,700,000

NextEra

Energy

Capital

Holdings,

Inc

5

.650

05/01/79

1,482,771‌

1,000,000

NextEra

Energy

Capital

Holdings,

Inc

3

.800

03/15/82

784,897‌

500,000

NiSource,

Inc

0

.950

08/15/25

443,794‌

1,000,000

NiSource,

Inc

3

.490

05/15/27

918,714‌

750,000

NiSource,

Inc

2

.950

09/01/29

633,025‌

200,000

NiSource,

Inc

3

.600

05/01/30

174,443‌

800,000

NiSource,

Inc

1

.700

02/15/31

591,982‌

77,000

NiSource,

Inc

5

.950

06/15/41

73,930‌

700,000

NiSource,

Inc

5

.250

02/15/43

626,001‌

450,000

NiSource,

Inc

4

.800

02/15/44

377,839‌

815,000

NiSource,

Inc

5

.650

02/01/45

754,405‌

350,000

NiSource,

Inc

4

.375

05/15/47

277,611‌

500,000

NiSource,

Inc

3

.950

03/30/48

368,886‌

200,000

NiSource,

Inc

5

.000

06/15/52

174,554‌

600,000

e

Northern

States

Power

Co

2

.250

04/01/31

489,950‌

425,000

Northern

States

Power

Co

5

.350

11/01/39

418,089‌

175,000

Northern

States

Power

Co

3

.600

05/15/46

134,764‌

1,950,000

Northern

States

Power

Co

3

.600

09/15/47

1,467,228‌

325,000

Northern

States

Power

Co

2

.900

03/01/50

217,158‌

750,000

Northern

States

Power

Co

2

.600

06/01/51

466,358‌

1,000,000

Northern

States

Power

Co

3

.200

04/01/52

694,855‌

400,000

Northern

States

Power

Co

4

.500

06/01/52

351,569‌

1,000,000

Northwest

Pipeline

LLC

4

.000

04/01/27

928,853‌

200,000

NorthWestern

Corp

4

.176

11/15/44

158,765‌

200,000

NSTAR

Electric

Co

2

.375

10/15/22

199,833‌

300,000

NSTAR

Electric

Co

3

.200

05/15/27

278,319‌

1,000,000

NSTAR

Electric

Co

1

.950

08/15/31

781,053‌

1,100,000

NSTAR

Electric

Co

3

.100

06/01/51

735,653‌

350,000

NSTAR

Electric

Co

4

.550

06/01/52

303,813‌

1,000,000

nVent

Finance

Sarl

2

.750

11/15/31

743,884‌

200,000

Nvent

Finance

Sarl

4

.550

04/15/28

179,584‌

500,000

g

Oglethorpe

Power

Corp

4

.500

04/01/47

390,729‌

500,000

Oglethorpe

Power

Corp

5

.050

10/01/48

419,443‌

750,000

Oglethorpe

Power

Corp

3

.750

08/01/50

526,478‌

500,000

Oglethorpe

Power

Corp

5

.250

09/01/50

424,352‌

2,000,000

e

Ohio

Power

Co

1

.625

01/15/31

1,503,864‌

500,000

Ohio

Power

Co

4

.150

04/01/48

400,321‌

1,500,000

Ohio

Power

Co

4

.000

06/01/49

1,151,975‌

1,000,000

Ohio

Power

Co

2

.900

10/01/51

624,989‌

200,000

Oklahoma

Gas

&

Electric

Co

3

.800

08/15/28

184,428‌

500,000

Oklahoma

Gas

&

Electric

Co

3

.300

03/15/30

435,571‌

100,000

Oklahoma

Gas

&

Electric

Co

3

.250

04/01/30

86,513‌

200,000

Oklahoma

Gas

&

Electric

Co

4

.150

04/01/47

158,709‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

128

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

200,000

Oklahoma

Gas

&

Electric

Co

3

.850

%

08/15/47

$

152,591‌

400,000

Oncor

Electric

Delivery

Co

LLC

2

.950

04/01/25

382,130‌

1,000,000

Oncor

Electric

Delivery

Co

LLC

0

.550

10/01/25

880,073‌

750,000

Oncor

Electric

Delivery

Co

LLC

3

.700

11/15/28

695,441‌

1,500,000

Oncor

Electric

Delivery

Co

LLC

5

.750

03/15/29

1,542,192‌

1,325,000

Oncor

Electric

Delivery

Co

LLC

2

.750

05/15/30

1,136,335‌

425,000

g

Oncor

Electric

Delivery

Co

LLC

4

.150

06/01/32

395,651‌

500,000

g

Oncor

Electric

Delivery

Co

LLC

4

.550

09/15/32

480,946‌

100,000

Oncor

Electric

Delivery

Co

LLC

5

.250

09/30/40

96,416‌

550,000

Oncor

Electric

Delivery

Co

LLC

4

.550

12/01/41

483,858‌

56,000

Oncor

Electric

Delivery

Co

LLC

5

.300

06/01/42

54,065‌

300,000

Oncor

Electric

Delivery

Co

LLC

3

.750

04/01/45

234,178‌

400,000

Oncor

Electric

Delivery

Co

LLC

3

.800

09/30/47

316,880‌

200,000

Oncor

Electric

Delivery

Co

LLC

4

.100

11/15/48

164,880‌

500,000

Oncor

Electric

Delivery

Co

LLC

3

.800

06/01/49

392,600‌

500,000

Oncor

Electric

Delivery

Co

LLC

3

.100

09/15/49

345,767‌

200,000

Oncor

Electric

Delivery

Co

LLC

3

.700

05/15/50

154,963‌

550,000

Oncor

Electric

Delivery

Co

LLC

2

.700

11/15/51

351,081‌

500,000

g

Oncor

Electric

Delivery

Co

LLC

4

.950

09/15/52

472,031‌

164,000

Oncor

Electric

Delivery

Co

LLC

5

.350

10/01/52

159,242‌

137,000

ONE

Gas,

Inc

3

.610

02/01/24

134,386‌

100,000

ONE

Gas,

Inc

2

.000

05/15/30

78,782‌

500,000

ONE

Gas,

Inc

4

.250

09/01/32

456,359‌

100,000

ONE

Gas,

Inc

4

.658

02/01/44

84,116‌

500,000

ONE

Gas,

Inc

4

.500

11/01/48

395,514‌

200,000

ONEOK

Partners

LP

5

.000

09/15/23

199,340‌

700,000

ONEOK

Partners

LP

4

.900

03/15/25

688,510‌

130,000

ONEOK

Partners

LP

6

.650

10/01/36

122,505‌

250,000

ONEOK

Partners

LP

6

.850

10/15/37

238,915‌

100,000

ONEOK

Partners

LP

6

.125

02/01/41

88,004‌

5,000,000

Pacific

Gas

and

Electric

Co

3

.150

01/01/26

4,492,494‌

500,000

Pacific

Gas

and

Electric

Co

5

.450

06/15/27

471,004‌

3,000,000

Pacific

Gas

and

Electric

Co

2

.100

08/01/27

2,425,106‌

1,500,000

Pacific

Gas

and

Electric

Co

3

.000

06/15/28

1,235,919‌

1,000,000

Pacific

Gas

and

Electric

Co

4

.200

03/01/29

848,828‌

3,000,000

Pacific

Gas

and

Electric

Co

4

.550

07/01/30

2,570,815‌

3,000,000

Pacific

Gas

and

Electric

Co

2

.500

02/01/31

2,182,956‌

2,000,000

Pacific

Gas

and

Electric

Co

3

.250

06/01/31

1,525,920‌

1,000,000

Pacific

Gas

and

Electric

Co

4

.400

03/01/32

822,238‌

500,000

Pacific

Gas

and

Electric

Co

5

.900

06/15/32

455,959‌

750,000

Pacific

Gas

and

Electric

Co

4

.500

07/01/40

545,637‌

1,000,000

Pacific

Gas

and

Electric

Co

3

.300

08/01/40

640,158‌

1,500,000

Pacific

Gas

and

Electric

Co

4

.200

06/01/41

1,028,765‌

1,200,000

Pacific

Gas

and

Electric

Co

4

.950

07/01/50

878,312‌

2,300,000

Pacific

Gas

and

Electric

Co

3

.500

08/01/50

1,399,691‌

1,000,000

Pacific

Gas

and

Electric

Co

5

.250

03/01/52

755,378‌

500,000

PacifiCorp

3

.500

06/15/29

451,138‌

500,000

PacifiCorp

2

.700

09/15/30

417,512‌

850,000

PacifiCorp

6

.000

01/15/39

849,433‌

300,000

PacifiCorp

4

.125

01/15/49

238,470‌

1,300,000

PacifiCorp

4

.150

02/15/50

1,045,304‌

250,000

PacifiCorp

3

.300

03/15/51

174,800‌

2,000,000

PacifiCorp

2

.900

06/15/52

1,279,756‌

200,000

PECO

Energy

Co

3

.150

10/15/25

190,864‌

200,000

PECO

Energy

Co

4

.150

10/01/44

165,904‌

200,000

PECO

Energy

Co

3

.700

09/15/47

154,275‌

1,200,000

PECO

Energy

Co

3

.900

03/01/48

945,892‌

125,000

PECO

Energy

Co

3

.000

09/15/49

82,446‌

100,000

PECO

Energy

Co

2

.800

06/15/50

64,276‌

475,000

PECO

Energy

Co

3

.050

03/15/51

320,190‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

129

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

1,000,000

PECO

Energy

Co

2

.850

%

09/15/51

$

643,697‌

500,000

PECO

Energy

Co

4

.600

05/15/52

440,330‌

500,000

PECO

Energy

Co

4

.375

08/15/52

424,209‌

500,000

PG&E

WILDFIRE

RECOVERY

3

.594

06/01/30

470,979‌

250,000

PG&E

WILDFIRE

RECOVERY

4

.263

06/01/36

226,363‌

250,000

PG&E

WILDFIRE

RECOVERY

4

.377

06/01/39

221,696‌

1,000,000

PG&E

WILDFIRE

RECOVERY

4

.451

12/01/47

857,108‌

1,000,000

PG&E

WILDFIRE

RECOVERY

4

.674

12/01/51

884,164‌

500,000

PG&E

Wildfire

Recovery

Funding

LLC

4

.022

06/01/31

481,769‌

500,000

PG&E

Wildfire

Recovery

Funding

LLC

4

.722

06/01/37

466,324‌

500,000

PG&E

Wildfire

Recovery

Funding

LLC

5

.081

06/01/41

460,906‌

750,000

PG&E

Wildfire

Recovery

Funding

LLC

5

.212

12/01/47

709,820‌

750,000

PG&E

Wildfire

Recovery

Funding

LLC

5

.099

06/01/52

713,631‌

1,000,000

Piedmont

Natural

Gas

Co,

Inc

2

.500

03/15/31

788,380‌

200,000

Piedmont

Natural

Gas

Co,

Inc

4

.650

08/01/43

167,095‌

1,600,000

Piedmont

Natural

Gas

Co,

Inc

3

.350

06/01/50

1,060,849‌

1,000,000

Piedmont

Natural

Gas

Co,

Inc

5

.050

05/15/52

876,620‌

1,000,000

Pinnacle

West

Capital

Corp

1

.300

06/15/25

897,134‌

200,000

Potomac

Electric

Power

Co

3

.600

03/15/24

196,552‌

900,000

Potomac

Electric

Power

Co

4

.150

03/15/43

738,721‌

950,000

PPL

Capital

Funding,

Inc

3

.100

05/15/26

875,891‌

200,000

PPL

Electric

Utilities

Corp

4

.125

06/15/44

163,280‌

275,000

PPL

Electric

Utilities

Corp

4

.150

10/01/45

221,381‌

500,000

PPL

Electric

Utilities

Corp

3

.950

06/01/47

400,049‌

200,000

PPL

Electric

Utilities

Corp

4

.150

06/15/48

164,887‌

525,000

PPL

Electric

Utilities

Corp

3

.000

10/01/49

350,567‌

250,000

Public

Service

Co

of

Colorado

3

.700

06/15/28

233,431‌

1,000,000

Public

Service

Co

of

Colorado

1

.900

01/15/31

791,723‌

1,050,000

Public

Service

Co

of

Colorado

1

.875

06/15/31

820,036‌

275,000

Public

Service

Co

of

Colorado

4

.100

06/01/32

253,875‌

200,000

Public

Service

Co

of

Colorado

3

.800

06/15/47

155,502‌

100,000

Public

Service

Co

of

Colorado

4

.100

06/15/48

81,470‌

300,000

Public

Service

Co

of

Colorado

4

.050

09/15/49

243,477‌

400,000

Public

Service

Co

of

Colorado

3

.200

03/01/50

280,442‌

350,000

Public

Service

Co

of

Colorado

2

.700

01/15/51

221,150‌

1,200,000

Public

Service

Co

of

New

Hampshire

2

.200

06/15/31

962,085‌

100,000

Public

Service

Co

of

New

Hampshire

3

.600

07/01/49

75,664‌

500,000

Public

Service

Co

of

Oklahoma

2

.200

08/15/31

389,194‌

500,000

Public

Service

Co

of

Oklahoma

3

.150

08/15/51

321,570‌

300,000

Public

Service

Electric

&

Gas

Co

3

.250

09/01/23

295,965‌

300,000

Public

Service

Electric

&

Gas

Co

2

.250

09/15/26

270,925‌

450,000

Public

Service

Electric

&

Gas

Co

3

.000

05/15/27

413,997‌

250,000

Public

Service

Electric

&

Gas

Co

3

.700

05/01/28

233,371‌

500,000

Public

Service

Electric

&

Gas

Co

3

.200

05/15/29

448,684‌

500,000

Public

Service

Electric

&

Gas

Co

2

.450

01/15/30

422,180‌

200,000

Public

Service

Electric

&

Gas

Co

3

.800

01/01/43

159,740‌

600,000

Public

Service

Electric

&

Gas

Co

3

.800

03/01/46

467,522‌

200,000

Public

Service

Electric

&

Gas

Co

3

.600

12/01/47

149,351‌

250,000

Public

Service

Electric

&

Gas

Co

4

.050

05/01/48

204,296‌

500,000

Public

Service

Electric

&

Gas

Co

3

.850

05/01/49

393,270‌

575,000

Public

Service

Electric

&

Gas

Co

3

.200

08/01/49

400,379‌

500,000

Public

Service

Electric

&

Gas

Co

3

.150

01/01/50

343,697‌

175,000

Public

Service

Electric

&

Gas

Co

2

.700

05/01/50

110,151‌

425,000

Public

Service

Electric

&

Gas

Co

2

.050

08/01/50

230,510‌

1,000,000

Public

Service

Electric

and

Gas

Co

0

.950

03/15/26

876,698‌

1,000,000

Public

Service

Electric

and

Gas

Co

1

.900

08/15/31

781,780‌

2,000,000

Public

Service

Electric

and

Gas

Co

3

.000

03/01/51

1,330,759‌

400,000

Public

Service

Enterprise

Group,

Inc

0

.800

08/15/25

351,813‌

400,000

Public

Service

Enterprise

Group,

Inc

1

.600

08/15/30

299,978‌

1,000,000

Public

Service

Enterprise

Group,

Inc

2

.450

11/15/31

778,373‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

130

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

1,585,000

Puget

Energy,

Inc

3

.650

%

05/15/25

$

1,499,349‌

1,000,000

Puget

Energy,

Inc

2

.379

06/15/28

832,027‌

1,000,000

Puget

Energy,

Inc

4

.100

06/15/30

881,171‌

250,000

Puget

Sound

Energy,

Inc

5

.757

10/01/39

246,334‌

200,000

Puget

Sound

Energy,

Inc

4

.300

05/20/45

163,445‌

275,000

Puget

Sound

Energy,

Inc

3

.250

09/15/49

185,328‌

750,000

Puget

Sound

Energy,

Inc

2

.893

09/15/51

478,483‌

400,000

San

Diego

Gas

&

Electric

Co

3

.600

09/01/23

395,105‌

800,000

San

Diego

Gas

&

Electric

Co

2

.500

05/15/26

733,420‌

500,000

San

Diego

Gas

&

Electric

Co

1

.700

10/01/30

385,170‌

300,000

San

Diego

Gas

&

Electric

Co

3

.750

06/01/47

224,134‌

300,000

San

Diego

Gas

&

Electric

Co

4

.150

05/15/48

240,052‌

750,000

San

Diego

Gas

&

Electric

Co

4

.100

06/15/49

595,320‌

675,000

San

Diego

Gas

&

Electric

Co

2

.950

08/15/51

438,484‌

1,000,000

San

Diego

Gas

&

Electric

Co

3

.700

03/15/52

750,401‌

1,525,000

Sempra

Energy

3

.250

06/15/27

1,391,910‌

675,000

Sempra

Energy

3

.400

02/01/28

610,336‌

825,000

Sempra

Energy

3

.800

02/01/38

643,223‌

125,000

Sempra

Energy

6

.000

10/15/39

121,383‌

850,000

Sempra

Energy

4

.000

02/01/48

633,673‌

1,380,000

Sempra

Energy

4

.125

04/01/52

1,083,300‌

869,000

Sierra

Pacific

Power

Co

2

.600

05/01/26

802,318‌

50,000

South

Carolina

Electric

&

Gas

Co

5

.300

05/15/33

49,720‌

125,000

South

Carolina

Electric

&

Gas

Co

5

.450

02/01/41

119,856‌

800,000

South

Carolina

Electric

&

Gas

Co

4

.600

06/15/43

692,372‌

100,000

Southern

California

Edison

Co

3

.400

06/01/23

98,809‌

500,000

Southern

California

Edison

Co

0

.700

08/01/23

483,520‌

500,000

Southern

California

Edison

Co

0

.975

08/01/24

463,310‌

500,000

Southern

California

Edison

Co

3

.700

08/01/25

480,770‌

1,000,000

Southern

California

Edison

Co

1

.200

02/01/26

880,018‌

500,000

Southern

California

Edison

Co

4

.700

06/01/27

485,290‌

750,000

Southern

California

Edison

Co

3

.650

03/01/28

683,684‌

500,000

Southern

California

Edison

Co

4

.200

03/01/29

462,345‌

600,000

Southern

California

Edison

Co

2

.850

08/01/29

505,998‌

1,750,000

Southern

California

Edison

Co

2

.250

06/01/30

1,386,339‌

1,500,000

Southern

California

Edison

Co

2

.500

06/01/31

1,184,213‌

1,000,000

Southern

California

Edison

Co

2

.750

02/01/32

792,071‌

185,000

Southern

California

Edison

Co

6

.050

03/15/39

178,793‌

300,000

Southern

California

Edison

Co

4

.500

09/01/40

242,531‌

825,000

Southern

California

Edison

Co

4

.650

10/01/43

677,854‌

450,000

Southern

California

Edison

Co

3

.600

02/01/45

307,910‌

1,937,000

Southern

California

Edison

Co

4

.000

04/01/47

1,411,243‌

1,675,000

Southern

California

Edison

Co

4

.125

03/01/48

1,244,690‌

1,500,000

Southern

California

Edison

Co

2

.950

02/01/51

912,942‌

1,000,000

Southern

California

Edison

Co

3

.650

06/01/51

696,108‌

1,000,000

Southern

California

Edison

Co

3

.450

02/01/52

672,483‌

200,000

Southern

California

Gas

Co

3

.200

06/15/25

190,180‌

200,000

Southern

California

Gas

Co

2

.600

06/15/26

183,486‌

1,000,000

Southern

California

Gas

Co

2

.950

04/15/27

912,906‌

500,000

Southern

California

Gas

Co

2

.550

02/01/30

420,457‌

150,000

Southern

California

Gas

Co

3

.750

09/15/42

112,643‌

500,000

Southern

California

Gas

Co

4

.125

06/01/48

389,655‌

300,000

Southern

California

Gas

Co

4

.300

01/15/49

241,423‌

500,000

Southern

California

Gas

Co

3

.950

02/15/50

382,327‌

2,000,000

Southern

Co

5

.113

08/01/27

1,946,631‌

1,500,000

Southern

Co

1

.750

03/15/28

1,225,223‌

2,500,000

Southern

Co

3

.700

04/30/30

2,200,287‌

400,000

Southern

Co

4

.250

07/01/36

337,108‌

800,000

Southern

Co

4

.400

07/01/46

624,646‌

1,000,000

Southern

Co

4

.000

01/15/51

896,200‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

131

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

1,500,000

Southern

Co

3

.750

%

09/15/51

$

1,216,335‌

200,000

Southern

Co

Gas

Capital

Corp

2

.450

10/01/23

195,321‌

400,000

Southern

Co

Gas

Capital

Corp

3

.250

06/15/26

370,657‌

500,000

Southern

Co

Gas

Capital

Corp

1

.750

01/15/31

370,629‌

275,000

Southern

Co

Gas

Capital

Corp

4

.400

06/01/43

219,339‌

100,000

Southern

Co

Gas

Capital

Corp

3

.950

10/01/46

73,359‌

900,000

Southern

Co

Gas

Capital

Corp

4

.400

05/30/47

707,596‌

175,000

Southern

Co

Gas

Capital

Corp

3

.150

09/30/51

109,770‌

200,000

Southern

Power

Co

4

.150

12/01/25

193,021‌

950,000

Southern

Power

Co

0

.900

01/15/26

826,152‌

300,000

Southern

Power

Co

4

.950

12/15/46

251,411‌

150,000

Southwest

Gas

Corp

3

.700

04/01/28

133,888‌

100,000

Southwest

Gas

Corp

2

.200

06/15/30

75,694‌

1,000,000

Southwest

Gas

Corp

4

.050

03/15/32

840,084‌

100,000

Southwest

Gas

Corp

3

.800

09/29/46

67,234‌

500,000

Southwest

Gas

Corp

4

.150

06/01/49

358,573‌

1,000,000

Southwest

Gas

Corp

3

.180

08/15/51

610,839‌

500,000

Southwestern

Electric

Power

Co

2

.750

10/01/26

452,739‌

675,000

Southwestern

Electric

Power

Co

4

.100

09/15/28

623,170‌

750,000

Southwestern

Electric

Power

Co

3

.850

02/01/48

546,982‌

750,000

Southwestern

Electric

Power

Co

3

.250

11/01/51

476,582‌

600,000

Southwestern

Public

Service

Co

4

.500

08/15/41

516,099‌

300,000

Southwestern

Public

Service

Co

3

.400

08/15/46

214,502‌

225,000

Southwestern

Public

Service

Co

3

.700

08/15/47

167,539‌

200,000

Southwestern

Public

Service

Co

4

.400

11/15/48

166,697‌

750,000

Southwestern

Public

Service

Co

3

.750

06/15/49

566,709‌

650,000

Southwestern

Public

Service

Co

3

.150

05/01/50

443,450‌

1,500,000

Spire

Missouri,

Inc

3

.300

06/01/51

1,005,775‌

1,000,000

Tampa

Electric

Co

2

.400

03/15/31

810,495‌

100,000

Tampa

Electric

Co

4

.100

06/15/42

80,994‌

175,000

Tampa

Electric

Co

4

.350

05/15/44

143,387‌

200,000

Tampa

Electric

Co

4

.300

06/15/48

166,605‌

200,000

Tampa

Electric

Co

4

.450

06/15/49

168,521‌

575,000

Tampa

Electric

Co

3

.625

06/15/50

419,794‌

925,000

Tampa

Electric

Co

3

.450

03/15/51

649,311‌

300,000

TC

PipeLines

LP

4

.375

03/13/25

292,821‌

350,000

TC

PipeLines

LP

3

.900

05/25/27

327,577‌

200,000

Tucson

Electric

Power

Co

3

.050

03/15/25

191,542‌

125,000

Tucson

Electric

Power

Co

1

.500

08/01/30

94,215‌

500,000

Tucson

Electric

Power

Co

3

.250

05/15/32

418,868‌

200,000

Tucson

Electric

Power

Co

4

.850

12/01/48

172,028‌

500,000

Tucson

Electric

Power

Co

4

.000

06/15/50

379,215‌

2,000,000

Tucson

Electric

Power

Co

3

.250

05/01/51

1,316,525‌

200,000

Union

Electric

Co

2

.950

06/15/27

182,338‌

300,000

Union

Electric

Co

3

.500

03/15/29

272,851‌

500,000

Union

Electric

Co

2

.950

03/15/30

431,728‌

1,000,000

Union

Electric

Co

2

.150

03/15/32

772,270‌

100,000

Union

Electric

Co

8

.450

03/15/39

121,618‌

100,000

Union

Electric

Co

3

.900

09/15/42

80,077‌

100,000

Union

Electric

Co

3

.650

04/15/45

74,680‌

200,000

Union

Electric

Co

4

.000

04/01/48

157,802‌

1,000,000

Union

Electric

Co

3

.250

10/01/49

694,052‌

675,000

Union

Electric

Co

2

.625

03/15/51

415,050‌

125,000

Union

Electric

Co

3

.900

04/01/52

98,152‌

100,000

United

Utilities

plc

6

.875

08/15/28

103,310‌

500,000

Virginia

Electric

&

Power

Co

3

.450

02/15/24

490,670‌

900,000

Virginia

Electric

&

Power

Co

2

.950

11/15/26

829,243‌

1,750,000

Virginia

Electric

&

Power

Co

3

.500

03/15/27

1,639,743‌

2,000,000

Virginia

Electric

&

Power

Co

3

.800

04/01/28

1,876,561‌

1,000,000

Virginia

Electric

&

Power

Co

2

.875

07/15/29

866,785‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

132

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

250,000

Virginia

Electric

&

Power

Co

4

.650

%

08/15/43

$

215,180‌

400,000

Virginia

Electric

&

Power

Co

4

.450

02/15/44

336,733‌

200,000

Virginia

Electric

&

Power

Co

4

.200

05/15/45

160,175‌

1,100,000

Virginia

Electric

&

Power

Co

4

.000

11/15/46

872,853‌

700,000

Virginia

Electric

&

Power

Co

3

.800

09/15/47

533,449‌

1,300,000

Virginia

Electric

&

Power

Co

4

.600

12/01/48

1,123,217‌

500,000

Virginia

Electric

&

Power

Co

3

.300

12/01/49

350,632‌

500,000

Virginia

Electric

and

Power

Co

3

.750

05/15/27

471,996‌

1,000,000

Virginia

Electric

and

Power

Co

2

.300

11/15/31

792,628‌

1,000,000

e

Virginia

Electric

and

Power

Co

2

.400

03/30/32

797,436‌

500,000

Virginia

Electric

and

Power

Co

2

.450

12/15/50

292,605‌

500,000

Virginia

Electric

and

Power

Co

4

.625

05/15/52

432,292‌

200,000

Washington

Gas

Light

Co

3

.796

09/15/46

151,200‌

700,000

Washington

Gas

Light

Co

3

.650

09/15/49

513,636‌

365,000

WEC

Energy

Group,

Inc

3

.550

06/15/25

348,701‌

1,000,000

WEC

Energy

Group,

Inc

5

.150

10/01/27

990,967‌

500,000

WEC

Energy

Group,

Inc

1

.375

10/15/27

411,816‌

500,000

WEC

Energy

Group,

Inc

1

.800

10/15/30

381,533‌

500,000

Westar

Energy,

Inc

4

.125

03/01/42

408,621‌

175,000

Westar

Energy,

Inc

4

.100

04/01/43

140,657‌

375,000

Westar

Energy,

Inc

3

.250

09/01/49

258,272‌

175,000

Wisconsin

Electric

Power

Co

2

.050

12/15/24

165,303‌

1,000,000

Wisconsin

Electric

Power

Co

1

.700

06/15/28

836,139‌

575,000

Wisconsin

Electric

Power

Co

4

.750

09/30/32

554,137‌

200,000

Wisconsin

Electric

Power

Co

5

.625

05/15/33

203,867‌

200,000

Wisconsin

Electric

Power

Co

4

.300

10/15/48

164,806‌

325,000

Wisconsin

Power

&

Light

Co

3

.050

10/15/27

296,451‌

500,000

e

Wisconsin

Power

&

Light

Co

3

.000

07/01/29

436,166‌

225,000

Wisconsin

Power

&

Light

Co

3

.650

04/01/50

164,194‌

1,000,000

Wisconsin

Power

and

Light

Co

1

.950

09/16/31

781,978‌

500,000

Wisconsin

Power

and

Light

Co

3

.950

09/01/32

451,795‌

200,000

Wisconsin

Public

Service

Corp

4

.752

11/01/44

173,490‌

300,000

Wisconsin

Public

Service

Corp

3

.300

09/01/49

210,066‌

550,000

Wisconsin

Public

Service

Corp

2

.850

12/01/51

352,837‌

750,000

Xcel

Energy,

Inc

3

.350

12/01/26

695,611‌

1,000,000

Xcel

Energy,

Inc

1

.750

03/15/27

864,014‌

900,000

e

Xcel

Energy,

Inc

4

.000

06/15/28

843,022‌

1,000,000

e

Xcel

Energy,

Inc

2

.350

11/15/31

773,357‌

200,000

Xcel

Energy,

Inc

4

.800

09/15/41

173,164‌

500,000

Xcel

Energy,

Inc

3

.500

12/01/49

357,957‌

1,000,000

Yale

Haven

Health

Services

Corp

2

.496

07/01/50

591,210‌

TOTAL

UTILITIES

391,361,356‌

TOTAL

CORPORATE

BONDS

4,568,333,313‌

(Cost

$5,475,878,113)

GOVERNMENT

BONDS

-

72

.7

%

AGENCY

SECURITIES

-

1

.3

%

3,000,000

Federal

Farm

Credit

Bank

(FFCB)

0

.125

11/23/22

2,986,829‌

10,000,000

FFCB

0

.300

09/01/23

9,635,268‌

1,145,000

FFCB

3

.500

12/20/23

1,134,870‌

1,670,000

FFCB

0

.250

02/26/24

1,579,375‌

7,500,000

FFCB

2

.625

05/16/24

7,312,441‌

1,500,000

FFCB

3

.375

08/26/24

1,473,908‌

10,000,000

FFCB

4

.250

09/26/24

9,988,543‌

1,750,000

FFCB

1

.125

01/06/25

1,629,508‌

4,000,000

FFCB

1

.750

02/14/25

3,768,401‌

5,000,000

FFCB

1

.650

07/23/35

3,565,388‌

3,200,000

Federal

Home

Loan

Bank

(FHLB)

0

.125

06/02/23

3,114,656‌

5,500,000

FHLB

0

.500

11/09/23

5,276,228‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

133

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

AGENCY

SECURITIES—continued

$

4,000,000

FHLB

2

.750

%

06/28/24

$

3,891,735‌

615,000

FHLB

3

.000

07/08/24

601,299‌

10,000,000

e

FHLB

0

.500

04/14/25

9,077,059‌

2,000,000

e

FHLB

0

.375

09/04/25

1,793,366‌

13,875,000

FHLB

3

.250

11/16/28

13,239,041‌

3,000,000

Federal

Home

Loan

Mortgage

Corp

(FHLMC)

0

.375

05/05/23

2,933,330‌

12,625,000

FHLMC

2

.750

06/19/23

12,487,730‌

7,000,000

FHLMC

0

.250

08/24/23

6,757,148‌

3,250,000

FHLMC

0

.250

09/08/23

3,129,007‌

6,750,000

FHLMC

0

.125

10/16/23

6,466,365‌

4,000,000

FHLMC

0

.250

11/06/23

3,824,880‌

3,782,000

FHLMC

0

.250

12/04/23

3,608,448‌

10,000,000

FHLMC

1

.500

02/12/25

9,371,643‌

6,000,000

FHLMC

0

.375

07/21/25

5,382,912‌

5,000,000

FHLMC

0

.375

09/23/25

4,459,280‌

10,000,000

Federal

National

Mortgage

Association

(FNMA)

2

.375

01/19/23

9,958,466‌

5,250,000

FNMA

0

.250

07/10/23

5,092,891‌

1,000,000

FNMA

2

.875

09/12/23

985,672‌

3,000,000

e

FNMA

0

.250

11/27/23

2,866,054‌

2,500,000

FNMA

2

.500

02/05/24

2,439,331‌

5,000,000

FNMA

1

.750

07/02/24

4,787,104‌

13,700,000

FNMA

2

.625

09/06/24

13,287,990‌

3,000,000

FNMA

1

.625

01/07/25

2,830,376‌

4,000,000

FNMA

0

.625

04/22/25

3,645,102‌

10,000,000

FNMA

0

.375

08/25/25

8,941,504‌

4,500,000

FNMA

0

.500

11/07/25

4,007,409‌

4,000,000

FNMA

1

.875

09/24/26

3,655,524‌

3,000,000

e

FNMA

0

.750

10/08/27

2,550,245‌

10,000,000

FNMA

0

.875

08/05/30

7,821,428‌

5,000,000

FNMA

6

.625

11/15/30

5,839,322‌

1,000,000

FNMA

5

.625

07/15/37

1,128,121‌

1,300,000

Hashemite

Kingdom

of

Jordan

Government

AID

Bond

3

.000

06/30/25

1,250,049‌

800,000

Israel

Government

AID

International

Bond

5

.500

09/18/23

807,493‌

300,000

Israel

Government

AID

International

Bond

5

.500

04/26/24

304,030‌

400,000

Private

Export

Funding

Corp

(PEFCO)

2

.050

11/15/22

399,317‌

250,000

PEFCO

1

.750

11/15/24

234,663‌

200,000

PEFCO

3

.250

06/15/25

192,549‌

3,000,000

PEFCO

1

.400

07/15/28

2,548,424‌

750,000

Tennessee

Valley

Authority

(TVA)

2

.875

09/15/24

728,828‌

2,000,000

TVA

0

.750

05/15/25

1,823,141‌

1,425,000

TVA

2

.875

02/01/27

1,353,972‌

5,000,000

TVA

1

.500

09/15/31

3,993,691‌

500,000

TVA

5

.880

04/01/36

558,012‌

500,000

TVA

5

.500

06/15/38

544,217‌

4,300,000

TVA

3

.500

12/15/42

3,607,254‌

750,000

TVA

4

.250

09/15/52

676,647‌

1,750,000

TVA

4

.625

09/15/60

1,711,181‌

300,000

TVA

4

.250

09/15/65

267,553‌

TOTAL

AGENCY

SECURITIES

239,326,218‌

FOREIGN

GOVERNMENT

BONDS

-

3

.2

%

5,000,000

African

Development

Bank

0

.875

03/23/26

4,434,850‌

3,000,000

African

Development

Bank

0

.875

07/22/26

2,637,455‌

2,250,000

Asian

Development

Bank

1

.625

01/24/23

2,234,329‌

2,250,000

Asian

Development

Bank

0

.250

07/14/23

2,179,395‌

2,000,000

Asian

Development

Bank

0

.250

10/06/23

1,920,820‌

2,200,000

Asian

Development

Bank

2

.625

01/30/24

2,151,293‌

1,220,000

Asian

Development

Bank

0

.625

10/08/24

1,133,172‌

2,000,000

e

Asian

Development

Bank

1

.500

10/18/24

1,889,979‌

500,000

Asian

Development

Bank

2

.000

01/22/25

473,890‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

134

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

3,000,000

Asian

Development

Bank

2

.875

%

05/06/25

$

2,889,480‌

6,000,000

Asian

Development

Bank

0

.375

09/03/25

5,337,682‌

3,000,000

Asian

Development

Bank

0

.500

02/04/26

2,640,836‌

5,000,000

e

Asian

Development

Bank

1

.000

04/14/26

4,454,250‌

1,500,000

Asian

Development

Bank

2

.000

04/24/26

1,383,615‌

1,000,000

Asian

Development

Bank

2

.625

01/12/27

938,396‌

6,000,000

Asian

Development

Bank

1

.500

01/20/27

5,362,723‌

500,000

Asian

Development

Bank

2

.375

08/10/27

459,730‌

500,000

Asian

Development

Bank

2

.500

11/02/27

460,375‌

1,000,000

Asian

Development

Bank

2

.750

01/19/28

929,030‌

2,500,000

Asian

Development

Bank

1

.250

06/09/28

2,124,921‌

75,000

Asian

Development

Bank

5

.820

06/16/28

80,705‌

2,575,000

Asian

Development

Bank

3

.125

09/26/28

2,417,355‌

2,000,000

Asian

Development

Bank

1

.750

09/19/29

1,715,698‌

3,500,000

Asian

Development

Bank

1

.875

01/24/30

3,005,823‌

1,000,000

Asian

Development

Bank

0

.750

10/08/30

774,090‌

3,000,000

e

Asian

Development

Bank

1

.500

03/04/31

2,462,765‌

500,000

Asian

Development

Bank

3

.125

04/27/32

464,360‌

2,400,000

Asian

Development

Bank

3

.875

09/28/32

2,347,948‌

3,000,000

Asian

Infrastructure

Investment

Bank

0

.500

10/30/24

2,767,201‌

3,000,000

Asian

Infrastructure

Investment

Bank

0

.500

05/28/25

2,699,632‌

3,000,000

Asian

Infrastructure

Investment

Bank

0

.500

01/27/26

2,622,865‌

2,000,000

Asian

Infrastructure

Investment

Bank

3

.750

09/14/27

1,940,652‌

2,000,000

Canada

Government

International

Bond

2

.000

11/15/22

1,995,480‌

3,000,000

Canada

Government

International

Bond

1

.625

01/22/25

2,824,529‌

1,870,000

Canada

Government

International

Bond

2

.875

04/28/25

1,802,717‌

3,500,000

Canada

Government

International

Bond

0

.750

05/19/26

3,081,365‌

600,000

Chile

Government

International

Bond

2

.750

01/31/27

540,264‌

1,715,000

Chile

Government

International

Bond

3

.240

02/06/28

1,543,678‌

2,500,000

e

Chile

Government

International

Bond

2

.450

01/31/31

1,999,804‌

3,500,000

e

Chile

Government

International

Bond

2

.550

01/27/32

2,745,328‌

1,000,000

e

Chile

Government

International

Bond

2

.550

07/27/33

748,584‌

600,000

Chile

Government

International

Bond

3

.500

01/31/34

489,163‌

1,700,000

Chile

Government

International

Bond

3

.100

05/07/41

1,151,843‌

1,000,000

Chile

Government

International

Bond

4

.340

03/07/42

792,485‌

2,613,000

Chile

Government

International

Bond

3

.500

01/25/50

1,774,895‌

1,000,000

Chile

Government

International

Bond

4

.000

01/31/52

729,286‌

1,500,000

Chile

Government

International

Bond

3

.500

04/15/53

991,314‌

2,500,000

Chile

Government

International

Bond

3

.100

01/22/61

1,448,538‌

750,000

Chile

Government

International

Bond

3

.250

09/21/71

427,607‌

750,000

Corp

Andina

de

Fomento

2

.750

01/06/23

746,220‌

1,000,000

Corp

Andina

de

Fomento

2

.375

05/12/23

987,000‌

750,000

Corp

Andina

de

Fomento

3

.750

11/23/23

739,198‌

1,125,000

Corp

Andina

de

Fomento

1

.250

10/26/24

1,043,603‌

1,000,000

e

Corp

Andina

de

Fomento

1

.625

09/23/25

906,970‌

1,480,000

Council

of

Europe

Development

Bank

1

.375

02/27/25

1,379,108‌

1,500,000

Council

Of

Europe

Development

Bank

3

.000

06/16/25

1,448,037‌

2,000,000

Council

Of

Europe

Development

Bank

0

.875

09/22/26

1,747,019‌

2,000,000

European

Bank

for

Reconstruction

&

Development

1

.625

09/27/24

1,896,834‌

3,000,000

European

Bank

for

Reconstruction

&

Development

0

.500

11/25/25

2,654,047‌

2,000,000

e

European

Bank

for

Reconstruction

&

Development

0

.500

01/28/26

1,760,363‌

4,000,000

European

Investment

Bank

2

.250

06/24/24

3,864,982‌

5,000,000

European

Investment

Bank

0

.375

07/24/24

4,659,529‌

1,500,000

e

European

Investment

Bank

2

.500

10/15/24

1,447,051‌

3,250,000

European

Investment

Bank

1

.625

03/14/25

3,047,714‌

3,500,000

European

Investment

Bank

0

.625

07/25/25

3,157,945‌

5,000,000

European

Investment

Bank

2

.750

08/15/25

4,785,300‌

3,000,000

European

Investment

Bank

0

.375

12/15/25

2,648,262‌

3,500,000

European

Investment

Bank

0

.375

03/26/26

3,058,300‌

2,760,000

European

Investment

Bank

0

.750

10/26/26

2,397,537‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

135

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

7,000,000

e

European

Investment

Bank

1

.375

%

03/15/27

$

6,202,357‌

400,000

European

Investment

Bank

2

.375

05/24/27

369,740‌

250,000

European

Investment

Bank

0

.625

10/21/27

209,847‌

1,310,000

European

Investment

Bank

3

.250

11/15/27

1,253,894‌

550,000

European

Investment

Bank

1

.625

10/09/29

468,814‌

1,000,000

European

Investment

Bank

0

.875

05/17/30

790,770‌

2,000,000

European

Investment

Bank

0

.750

09/23/30

1,554,896‌

2,500,000

e

European

Investment

Bank

1

.250

02/14/31

2,026,375‌

1,705,000

European

Investment

Bank

4

.875

02/15/36

1,828,031‌

1,300,000

Export

Development

Canada

2

.625

02/21/24

1,268,827‌

4,000,000

Export

Development

Canada

3

.375

08/26/25

3,885,280‌

3,250,000

Export-Import

Bank

of

Korea

3

.000

11/01/22

3,246,490‌

1,375,000

Export-Import

Bank

of

Korea

3

.625

11/27/23

1,359,372‌

500,000

Export-Import

Bank

of

Korea

4

.000

01/14/24

495,484‌

750,000

Export-Import

Bank

of

Korea

2

.875

01/21/25

716,635‌

750,000

Export-Import

Bank

of

Korea

1

.875

02/12/25

701,798‌

1,000,000

Export-Import

Bank

of

Korea

0

.750

09/21/25

888,396‌

250,000

Export-Import

Bank

of

Korea

3

.250

11/10/25

237,989‌

1,000,000

Export-Import

Bank

of

Korea

0

.625

02/09/26

876,058‌

500,000

Export-Import

Bank

of

Korea

2

.625

05/26/26

462,754‌

500,000

Export-Import

Bank

of

Korea

3

.250

08/12/26

471,884‌

750,000

Export-Import

Bank

of

Korea

1

.125

12/29/26

645,464‌

1,000,000

Export-Import

Bank

of

Korea

1

.625

01/18/27

874,155‌

500,000

Export-Import

Bank

of

Korea

2

.375

04/21/27

447,978‌

1,000,000

Export-Import

Bank

of

Korea

4

.250

09/15/27

966,704‌

1,000,000

Export-Import

Bank

of

Korea

1

.250

09/21/30

772,309‌

1,000,000

Export-Import

Bank

of

Korea

1

.375

02/09/31

771,372‌

1,000,000

Export-Import

Bank

of

Korea

2

.125

01/18/32

797,853‌

485,000

Export-Import

Bank

of

Korea

4

.500

09/15/32

466,494‌

1,000,000

Export-Import

Bank

of

Korea

2

.500

06/29/41

724,592‌

100,000

Finland

Government

International

Bond

6

.950

02/15/26

106,845‌

1,250,000

Hungary

Government

International

Bond

7

.625

03/29/41

1,231,774‌

200,000

Hydro

Quebec

8

.500

12/01/29

245,384‌

750,000

Indonesia

Government

International

Bond

2

.950

01/11/23

747,009‌

1,000,000

Indonesia

Government

International

Bond

4

.150

09/20/27

950,976‌

750,000

Indonesia

Government

International

Bond

3

.500

01/11/28

678,338‌

900,000

Indonesia

Government

International

Bond

4

.750

02/11/29

858,579‌

1,250,000

Indonesia

Government

International

Bond

3

.400

09/18/29

1,091,810‌

1,000,000

Indonesia

Government

International

Bond

2

.850

02/14/30

851,807‌

675,000

Indonesia

Government

International

Bond

3

.850

10/15/30

605,234‌

1,500,000

Indonesia

Government

International

Bond

1

.850

03/12/31

1,146,536‌

1,500,000

Indonesia

Government

International

Bond

2

.150

07/28/31

1,162,266‌

300,000

Indonesia

Government

International

Bond

3

.550

03/31/32

258,714‌

1,000,000

Indonesia

Government

International

Bond

4

.650

09/20/32

939,597‌

875,000

Indonesia

Government

International

Bond

4

.350

01/11/48

683,304‌

1,125,000

Indonesia

Government

International

Bond

5

.350

02/11/49

989,911‌

1,000,000

e

Indonesia

Government

International

Bond

3

.700

10/30/49

714,475‌

1,000,000

Indonesia

Government

International

Bond

3

.500

02/14/50

690,116‌

2,000,000

Indonesia

Government

International

Bond

4

.200

10/15/50

1,528,613‌

2,000,000

e

Indonesia

Government

International

Bond

3

.050

03/12/51

1,312,901‌

485,000

Indonesia

Government

International

Bond

4

.300

03/31/52

375,582‌

500,000

Indonesia

Government

International

Bond

5

.450

09/20/52

461,265‌

1,000,000

e

Indonesia

Government

International

Bond

3

.200

09/23/61

618,436‌

500,000

Indonesia

Government

International

Bond

4

.450

04/15/70

379,285‌

1,750,000

Indonesia

Government

International

Bond

3

.350

03/12/71

1,064,592‌

1,500,000

Inter-American

Development

Bank

0

.250

11/15/23

1,437,361‌

1,500,000

Inter-American

Development

Bank

2

.625

01/16/24

1,467,100‌

500,000

Inter-American

Development

Bank

2

.125

01/15/25

475,800‌

5,000,000

Inter-American

Development

Bank

1

.750

03/14/25

4,696,350‌

10,000,000

Inter-American

Development

Bank

0

.625

07/15/25

9,021,356‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

136

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

4,000,000

Inter-American

Development

Bank

0

.875

%

04/20/26

$

3,545,240‌

1,500,000

Inter-American

Development

Bank

2

.000

06/02/26

1,381,020‌

1,500,000

Inter-American

Development

Bank

2

.000

07/23/26

1,378,275‌

5,000,000

Inter-American

Development

Bank

1

.500

01/13/27

4,470,643‌

1,000,000

Inter-American

Development

Bank

2

.375

07/07/27

920,669‌

2,000,000

e

Inter-American

Development

Bank

0

.625

09/16/27

1,679,880‌

4,000,000

Inter-American

Development

Bank

1

.125

07/20/28

3,368,400‌

2,000,000

Inter-American

Development

Bank

3

.125

09/18/28

1,882,279‌

3,000,000

Inter-American

Development

Bank

2

.250

06/18/29

2,668,440‌

2,000,000

Inter-American

Development

Bank

3

.500

09/14/29

1,920,166‌

3,000,000

Inter-American

Development

Bank

1

.125

01/13/31

2,390,941‌

1,450,000

Inter-American

Development

Bank

3

.200

08/07/42

1,222,214‌

300,000

Inter-American

Development

Bank

4

.375

01/24/44

298,915‌

2,000,000

Inter-American

Investment

Corp

2

.625

04/22/25

1,911,128‌

5,400,000

International

Bank

for

Reconstruction

&

Development

7

.625

01/19/23

5,456,489‌

2,000,000

International

Bank

for

Reconstruction

&

Development

1

.500

08/28/24

1,897,684‌

1,600,000

International

Bank

for

Reconstruction

&

Development

2

.500

11/25/24

1,540,736‌

5,000,000

International

Bank

for

Reconstruction

&

Development

1

.625

01/15/25

4,704,203‌

6,000,000

International

Bank

for

Reconstruction

&

Development

0

.375

07/28/25

5,370,302‌

4,500,000

International

Bank

for

Reconstruction

&

Development

2

.500

07/29/25

4,278,879‌

5,500,000

International

Bank

for

Reconstruction

&

Development

0

.500

10/28/25

4,892,789‌

500,000

International

Bank

for

Reconstruction

&

Development

3

.125

11/20/25

482,080‌

7,000,000

International

Bank

for

Reconstruction

&

Development

0

.875

07/15/26

6,160,770‌

2,000,000

International

Bank

for

Reconstruction

&

Development

0

.750

11/24/27

1,682,060‌

6,000,000

International

Bank

for

Reconstruction

&

Development

3

.625

09/21/29

5,833,041‌

2,000,000

International

Bank

for

Reconstruction

&

Development

1

.750

10/23/29

1,716,824‌

5,000,000

International

Bank

for

Reconstruction

&

Development

0

.875

05/14/30

3,946,300‌

3,000,000

International

Bank

for

Reconstruction

&

Development

0

.750

08/26/30

2,322,780‌

5,000,000

International

Bank

for

Reconstruction

&

Development

1

.250

02/10/31

4,026,554‌

5,000,000

International

Bank

for

Reconstruction

&

Development

1

.625

11/03/31

4,104,466‌

5,000,000

e

International

Bank

for

Reconstruction

&

Development

2

.500

03/29/32

4,404,937‌

834,000

International

Bank

for

Reconstruction

&

Development

4

.750

02/15/35

878,190‌

1,300,000

International

Finance

Corp

2

.875

07/31/23

1,283,592‌

2,500,000

International

Finance

Corp

0

.375

07/16/25

2,241,200‌

5,000,000

International

Finance

Corp

0

.750

08/27/30

3,912,848‌

300,000

Israel

Government

International

Bond

3

.150

06/30/23

295,883‌

1,000,000

Israel

Government

International

Bond

2

.875

03/16/26

945,173‌

975,000

Israel

Government

International

Bond

3

.250

01/17/28

917,187‌

600,000

Israel

Government

International

Bond

2

.750

07/03/30

530,629‌

1,500,000

Israel

Government

International

Bond

4

.500

01/30/43

1,370,207‌

200,000

Israel

Government

International

Bond

4

.125

01/17/48

170,080‌

1,800,000

Israel

Government

International

Bond

3

.875

07/03/50

1,447,943‌

300,000

Israel

Government

International

Bond

4

.500

04/03/20

243,112‌

300,000

Japan

Bank

for

International

Cooperation

2

.375

11/16/22

299,622‌

1,000,000

Japan

Bank

for

International

Cooperation

0

.375

09/15/23

960,730‌

4,250,000

Japan

Bank

for

International

Cooperation

3

.375

10/31/23

4,193,357‌

2,300,000

Japan

Bank

for

International

Cooperation

2

.500

05/23/24

2,225,152‌

720,000

Japan

Bank

for

International

Cooperation

1

.750

10/17/24

681,171‌

500,000

e

Japan

Bank

for

International

Cooperation

2

.125

02/10/25

472,258‌

1,200,000

Japan

Bank

for

International

Cooperation

2

.875

04/14/25

1,149,762‌

3,000,000

Japan

Bank

for

International

Cooperation

0

.625

07/15/25

2,684,827‌

5,750,000

Japan

Bank

for

International

Cooperation

2

.750

01/21/26

5,419,541‌

400,000

Japan

Bank

for

International

Cooperation

2

.375

04/20/26

370,586‌

1,500,000

Japan

Bank

for

International

Cooperation

1

.875

07/21/26

1,352,032‌

1,000,000

Japan

Bank

for

International

Cooperation

2

.875

06/01/27

929,572‌

750,000

Japan

Bank

for

International

Cooperation

2

.875

07/21/27

694,006‌

300,000

Japan

Bank

for

International

Cooperation

2

.750

11/16/27

274,639‌

750,000

Japan

Bank

for

International

Cooperation

3

.500

10/31/28

704,988‌

2,000,000

Japan

Bank

for

International

Cooperation

2

.125

02/16/29

1,726,215‌

1,000,000

Japan

Bank

for

International

Cooperation

2

.000

10/17/29

851,820‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

137

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

1,500,000

Japan

Bank

for

International

Cooperation

1

.250

%

01/21/31

$

1,176,726‌

3,000,000

Japan

Bank

for

International

Cooperation

1

.875

04/15/31

2,455,580‌

350,000

Japan

International

Cooperation

Agency

2

.125

10/20/26

317,257‌

1,900,000

Japan

International

Cooperation

Agency

3

.250

05/25/27

1,789,217‌

700,000

Japan

International

Cooperation

Agency

3

.375

06/12/28

657,296‌

2,000,000

Japan

International

Cooperation

Agency

1

.000

07/22/30

1,541,680‌

1,500,000

Japan

International

Cooperation

Agency

1

.750

04/28/31

1,220,016‌

500,000

Korea

Development

Bank

2

.750

03/19/23

496,085‌

950,000

Korea

Development

Bank

0

.500

10/27/23

910,624‌

500,000

Korea

Development

Bank

3

.750

01/22/24

494,718‌

700,000

Korea

Development

Bank

3

.250

02/19/24

687,028‌

500,000

Korea

Development

Bank

0

.400

06/19/24

465,322‌

1,000,000

Korea

Development

Bank

2

.125

10/01/24

951,380‌

750,000

Korea

Development

Bank

1

.750

02/18/25

699,218‌

200,000

Korea

Development

Bank

3

.375

09/16/25

192,300‌

400,000

Korea

Development

Bank

3

.000

01/13/26

380,588‌

1,000,000

Korea

Development

Bank

0

.800

04/27/26

869,980‌

1,000,000

Korea

Development

Bank

0

.800

07/19/26

866,680‌

1,000,000

Korea

Development

Bank

1

.000

09/09/26

868,210‌

250,000

Korea

Development

Bank

2

.000

09/12/26

225,880‌

1,000,000

Korea

Development

Bank

2

.250

02/24/27

900,021‌

1,000,000

Korea

Development

Bank

1

.625

01/19/31

789,750‌

500,000

Korea

Government

International

Bond

3

.875

09/11/23

496,995‌

1,500,000

e

Korea

Government

International

Bond

2

.750

01/19/27

1,400,640‌

1,400,000

Korea

Government

International

Bond

4

.125

06/10/44

1,325,160‌

500,000

Korea

Government

International

Bond

3

.875

09/20/48

449,945‌

3,000,000

Kreditanstalt

fuer

Wiederaufbau

0

.250

10/19/23

2,876,880‌

3,000,000

Kreditanstalt

fuer

Wiederaufbau

2

.625

02/28/24

2,929,556‌

6,100,000

Kreditanstalt

fuer

Wiederaufbau

0

.250

03/08/24

5,757,298‌

5,000,000

Kreditanstalt

fuer

Wiederaufbau

0

.500

09/20/24

4,642,193‌

2,000,000

Kreditanstalt

fuer

Wiederaufbau

2

.500

11/20/24

1,925,649‌

5,000,000

Kreditanstalt

fuer

Wiederaufbau

1

.250

01/31/25

4,657,597‌

7,000,000

Kreditanstalt

fuer

Wiederaufbau

2

.000

05/02/25

6,594,316‌

4,500,000

Kreditanstalt

fuer

Wiederaufbau

0

.625

01/22/26

3,989,160‌

3,219,000

Kreditanstalt

fuer

Wiederaufbau

1

.000

10/01/26

2,828,963‌

3,000,000

Kreditanstalt

fuer

Wiederaufbau

3

.000

05/20/27

2,850,330‌

7,750,000

Kreditanstalt

fuer

Wiederaufbau

2

.875

04/03/28

7,246,715‌

1,000,000

Kreditanstalt

fuer

Wiederaufbau

1

.750

09/14/29

860,172‌

5,000,000

Kreditanstalt

fuer

Wiederaufbau

0

.750

09/30/30

3,886,509‌

500,000

Landwirtschaftliche

Rentenbank

2

.000

01/13/25

474,658‌

2,000,000

Landwirtschaftliche

Rentenbank

0

.500

05/27/25

1,807,660‌

750,000

Landwirtschaftliche

Rentenbank

2

.375

06/10/25

711,521‌

1,000,000

Landwirtschaftliche

Rentenbank

1

.750

07/27/26

909,425‌

125,000

Landwirtschaftliche

Rentenbank

2

.500

11/15/27

114,658‌

4,000,000

Landwirtschaftliche

Rentenbank

0

.875

09/03/30

3,143,727‌

18,964,000

Mexico

Government

International

Bond

2

.659

05/24/31

14,539,396‌

10,635,000

Mexico

Government

International

Bond

4

.875

05/19/33

9,348,004‌

2,000,000

Mexico

Government

International

Bond

3

.500

02/12/34

1,519,726‌

9,053,000

Mexico

Government

International

Bond

4

.280

08/14/41

6,584,584‌

1,000,000

Mexico

Government

International

Bond

5

.000

04/27/51

768,047‌

5,934,000

Mexico

Government

International

Bond

4

.400

02/12/52

4,086,248‌

2,936,000

Mexico

Government

International

Bond

3

.771

05/24/61

1,731,971‌

3,000,000

Mexico

Government

International

Bond

3

.750

04/19/71

1,740,563‌

950,000

Mexico

Government

International

Bond

5

.750

10/12/10

733,171‌

500,000

Nordic

Investment

Bank

2

.875

07/19/23

494,095‌

2,000,000

Nordic

Investment

Bank

0

.375

09/11/25

1,781,180‌

1,500,000

Nordic

Investment

Bank

0

.500

01/21/26

1,332,507‌

1,000,000

Nordic

Investment

Bank

3

.375

09/08/27

967,243‌

606,000

North

American

Development

Bank

2

.400

10/26/22

605,564‌

850,000

Panama

Government

International

Bond

4

.000

09/22/24

829,307‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

138

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

1,000,000

Panama

Government

International

Bond

3

.750

%

03/16/25

$

961,359‌

300,000

Panama

Government

International

Bond

7

.125

01/29/26

315,414‌

2,000,000

Panama

Government

International

Bond

3

.875

03/17/28

1,817,262‌

1,450,000

Panama

Government

International

Bond

3

.160

01/23/30

1,181,861‌

2,500,000

Panama

Government

International

Bond

2

.252

09/29/32

1,758,647‌

2,500,000

e

Panama

Government

International

Bond

3

.298

01/19/33

1,928,650‌

692,000

Panama

Government

International

Bond

6

.700

01/26/36

679,774‌

750,000

Panama

Government

International

Bond

4

.500

05/15/47

533,679‌

2,250,000

Panama

Government

International

Bond

4

.500

04/16/50

1,567,560‌

1,450,000

Panama

Government

International

Bond

4

.300

04/29/53

966,934‌

1,500,000

Panama

Government

International

Bond

4

.500

04/01/56

1,012,085‌

3,500,000

Panama

Government

International

Bond

3

.870

07/23/60

2,077,384‌

1,250,000

Panama

Government

International

Bond

4

.500

01/19/63

824,363‌

400,000

Peruvian

Government

International

Bond

2

.392

01/23/26

362,731‌

5,000,000

Peruvian

Government

International

Bond

2

.844

06/20/30

4,097,773‌

2,500,000

Peruvian

Government

International

Bond

2

.783

01/23/31

1,979,471‌

1,500,000

Peruvian

Government

International

Bond

1

.862

12/01/32

1,052,850‌

990,000

Peruvian

Government

International

Bond

3

.000

01/15/34

743,348‌

1,100,000

Peruvian

Government

International

Bond

6

.550

03/14/37

1,126,411‌

1,000,000

Peruvian

Government

International

Bond

3

.300

03/11/41

689,666‌

1,850,000

e

Peruvian

Government

International

Bond

5

.625

11/18/50

1,742,455‌

2,000,000

Peruvian

Government

International

Bond

3

.550

03/10/51

1,337,433‌

1,500,000

Peruvian

Government

International

Bond

2

.780

12/01/60

812,827‌

1,500,000

Peruvian

Government

International

Bond

3

.600

01/15/72

904,455‌

1,000,000

Peruvian

Government

International

Bond

3

.230

07/28/21

540,825‌

225,000

Philippine

Government

International

Bond

4

.200

01/21/24

221,353‌

1,000,000

Philippine

Government

International

Bond

3

.229

03/29/27

929,341‌

2,219,000

Philippine

Government

International

Bond

3

.000

02/01/28

2,002,314‌

3,375,000

Philippine

Government

International

Bond

3

.750

01/14/29

3,122,096‌

1,500,000

Philippine

Government

International

Bond

2

.457

05/05/30

1,243,426‌

2,000,000

Philippine

Government

International

Bond

1

.648

06/10/31

1,503,908‌

2,000,000

Philippine

Government

International

Bond

1

.950

01/06/32

1,524,252‌

1,000,000

Philippine

Government

International

Bond

3

.556

09/29/32

862,263‌

4,083,000

Philippine

Government

International

Bond

3

.950

01/20/40

3,229,408‌

300,000

Philippine

Government

International

Bond

3

.700

03/01/41

227,510‌

3,793,000

Philippine

Government

International

Bond

3

.700

02/02/42

2,875,731‌

1,500,000

Philippine

Government

International

Bond

2

.950

05/05/45

958,281‌

1,500,000

Philippine

Government

International

Bond

2

.650

12/10/45

919,844‌

1,500,000

Philippine

Government

International

Bond

3

.200

07/06/46

994,933‌

325,000

k

Philippine

Government

International

Bond

4

.200

03/29/47

251,388‌

1,000,000

Poland

Government

International

Bond

4

.000

01/22/24

984,974‌

2,725,000

Poland

Government

International

Bond

3

.250

04/06/26

2,563,929‌

750,000

Province

of

Alberta

Canada

3

.350

11/01/23

741,437‌

775,000

Province

of

Alberta

Canada

2

.950

01/23/24

759,699‌

1,500,000

Province

of

Alberta

Canada

1

.875

11/13/24

1,420,788‌

1,000,000

Province

of

Alberta

Canada

1

.000

05/20/25

912,740‌

925,000

Province

of

Alberta

Canada

3

.300

03/15/28

871,146‌

2,000,000

e

Province

of

Alberta

Canada

1

.300

07/22/30

1,584,600‌

2,000,000

Province

of

British

Columbia

Canada

1

.750

09/27/24

1,899,479‌

850,000

Province

of

British

Columbia

Canada

2

.250

06/02/26

786,564‌

1,500,000

Province

of

British

Columbia

Canada

0

.900

07/20/26

1,312,710‌

1,500,000

Province

of

British

Columbia

Canada

1

.300

01/29/31

1,185,255‌

1,000,000

Province

of

Manitoba

Canada

2

.600

04/16/24

972,181‌

1,300,000

Province

of

Manitoba

Canada

3

.050

05/14/24

1,270,832‌

500,000

Province

of

Manitoba

Canada

2

.125

06/22/26

457,870‌

1,500,000

Province

of

Manitoba

Canada

1

.500

10/25/28

1,261,513‌

500,000

Province

of

New

Brunswick

Canada

3

.625

02/24/28

482,530‌

500,000

Province

of

Ontario

Canada

3

.400

10/17/23

494,430‌

1,000,000

Province

of

Ontario

Canada

3

.050

01/29/24

981,367‌

1,500,000

Province

of

Ontario

Canada

3

.200

05/16/24

1,469,930‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

139

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

2,000,000

Province

of

Ontario

Canada

0

.625

%

01/21/26

$

1,758,656‌

1,500,000

Province

of

Ontario

Canada

1

.050

04/14/26

1,329,047‌

1,000,000

Province

of

Ontario

Canada

2

.500

04/27/26

931,685‌

1,000,000

Province

of

Ontario

Canada

2

.300

06/15/26

919,701‌

1,000,000

Province

of

Ontario

Canada

3

.100

05/19/27

942,152‌

1,000,000

Province

of

Ontario

Canada

1

.050

05/21/27

857,655‌

2,000,000

e

Province

of

Ontario

Canada

2

.000

10/02/29

1,710,000‌

1,000,000

Province

of

Ontario

Canada

1

.125

10/07/30

778,172‌

3,000,000

Province

of

Ontario

Canada

1

.600

02/25/31

2,415,780‌

1,500,000

Province

of

Ontario

Canada

1

.800

10/14/31

1,216,376‌

3,000,000

Province

of

Ontario

Canada

2

.125

01/21/32

2,481,919‌

200,000

Province

of

Quebec

Canada

7

.125

02/09/24

206,536‌

500,000

Province

of

Quebec

Canada

2

.875

10/16/24

484,496‌

2,500,000

Province

of

Quebec

Canada

1

.500

02/11/25

2,333,404‌

2,000,000

Province

of

Quebec

Canada

0

.600

07/23/25

1,797,180‌

3,500,000

Province

of

Quebec

Canada

2

.500

04/20/26

3,262,259‌

500,000

Province

of

Quebec

Canada

2

.750

04/12/27

467,731‌

201,000

Province

of

Quebec

Canada

7

.500

09/15/29

237,532‌

1,500,000

Province

of

Quebec

Canada

1

.350

05/28/30

1,206,810‌

3,000,000

Province

of

Quebec

Canada

1

.900

04/21/31

2,483,700‌

1,000,000

Province

of

Saskatchewan

Canada

3

.250

06/08/27

947,853‌

1,600,000

Republic

of

Italy

Government

International

Bond

6

.875

09/27/23

1,618,917‌

3,000,000

Republic

of

Italy

Government

International

Bond

0

.875

05/06/24

2,784,927‌

2,000,000

Republic

of

Italy

Government

International

Bond

2

.375

10/17/24

1,874,750‌

3,000,000

Republic

of

Italy

Government

International

Bond

1

.250

02/17/26

2,565,964‌

1,500,000

Republic

of

Italy

Government

International

Bond

2

.875

10/17/29

1,224,800‌

1,599,000

Republic

of

Italy

Government

International

Bond

5

.375

06/15/33

1,496,242‌

2,000,000

Republic

of

Italy

Government

International

Bond

4

.000

10/17/49

1,421,037‌

3,000,000

Republic

of

Italy

Government

International

Bond

3

.875

05/06/51

2,028,154‌

2,000,000

State

of

Israel

2

.500

01/15/30

1,743,887‌

2,050,000

State

of

Israel

3

.375

01/15/50

1,514,865‌

870,000

Svensk

Exportkredit

AB

1

.750

12/12/23

843,269‌

2,000,000

Svensk

Exportkredit

AB

0

.375

07/30/24

1,860,036‌

500,000

Svensk

Exportkredit

AB

3

.625

09/03/24

492,128‌

1,000,000

Svensk

Exportkredit

AB

0

.625

05/14/25

905,020‌

3,000,000

Svensk

Exportkredit

AB

0

.500

08/26/25

2,675,424‌

7,374,716

Uruguay

Government

International

Bond

4

.375

01/23/31

7,054,301‌

500,000

Uruguay

Government

International

Bond

4

.125

11/20/45

430,936‌

2,063,907

Uruguay

Government

International

Bond

5

.100

06/18/50

1,886,383‌

2,425,000

Uruguay

Government

International

Bond

4

.975

04/20/55

2,164,720‌

TOTAL

FOREIGN

GOVERNMENT

BONDS

610,003,100‌

MORTGAGE

BACKED

-

27

.6

%

5,242

i

Federal

Home

Loan

Mortgage

Corp

(FHLMC)

DGS1

+

2.250%

3

.053

04/01/35

5,188‌

1,205

i

FHLMC

DGS1

+

2.125%

2

.250

10/01/35

1,179‌

15,003

i

FHLMC

DGS1

+

2.255%

2

.380

02/01/36

15,143‌

5,530

i

FHLMC

LIBOR

12

M

+

1.827%

3

.451

07/01/36

5,651‌

20,793

i

FHLMC

LIBOR

6

M

+

1.595%

2

.344

09/01/36

20,386‌

18,763

i

FHLMC

DGS1

+

2.248%

2

.538

09/01/36

18,611‌

15,474

i

FHLMC

LIBOR

6

M

+

1.755%

3

.889

09/01/36

15,829‌

8,510

i

FHLMC

DGS1

+

2.250%

2

.584

01/01/37

8,687‌

1,376

i

FHLMC

LIBOR

12

M

+

1.765%

2

.227

02/01/37

1,360‌

911

i

FHLMC

DGS1

+

2.250%

2

.543

02/01/37

929‌

68,224

i

FHLMC

LIBOR

12

M

+

1.837%

2

.259

03/01/37

69,013‌

9,589,975

FHLMC

1

.500

04/01/37

8,232,511‌

62,475

i

FHLMC

DGS1

+

2.250%

2

.420

04/01/37

63,490‌

18,689

i

FHLMC

LIBOR

12

M

+

1.615%

2

.967

04/01/37

18,559‌

14,484,053

FHLMC

2

.000

05/01/37

12,776,653‌

5,114

i

FHLMC

LIBOR

12

M

+

2.097%

3

.159

05/01/37

5,054‌

14,375

i

FHLMC

DGS1

+

2.248%

2

.789

06/01/37

14,048‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

140

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

1,333

i

FHLMC

LIBOR

12

M

+

1.750%

4

.000

%

06/01/37

$

1,322‌

27,202

i

FHLMC

LIBOR

6

M

+

1.270%

3

.248

08/01/37

27,073‌

2,660

i

FHLMC

LIBOR

6

M

+

1.520%

2

.803

09/01/37

2,633‌

5,746

i

FHLMC

LIBOR

12

M

+

0.905%

3

.155

09/01/37

5,692‌

192

i

FHLMC

LIBOR

12

M

+

1.795%

4

.045

09/01/37

189‌

20,260

i

FHLMC

LIBOR

12

M

+

2.055%

3

.430

04/01/38

20,637‌

5,242

i

FHLMC

LIBOR

12

M

+

2.004%

3

.230

06/01/38

5,197‌

1,883

i

FHLMC

LIBOR

12

M

+

1.625%

3

.875

07/01/38

1,910‌

3,158

i

FHLMC

LIBOR

12

M

+

1.861%

4

.111

06/01/40

3,116‌

3,946

i

FHLMC

LIBOR

12

M

+

1.880%

4

.130

07/01/40

3,896‌

6,801

i

FHLMC

LIBOR

12

M

+

1.887%

2

.217

01/01/41

6,736‌

2,868

i

FHLMC

LIBOR

12

M

+

1.880%

3

.255

05/01/41

2,842‌

81,700

i

FHLMC

LIBOR

12

M

+

1.859%

2

.597

08/01/41

80,893‌

49,081

i

FHLMC

LIBOR

12

M

+

1.750%

2

.962

09/01/41

49,706‌

9,130

i

FHLMC

LIBOR

12

M

+

1.860%

2

.110

10/01/41

9,238‌

12,770,255

FHLMC

3

.000

11/01/49

11,309,167‌

13,809,873

FHLMC

3

.000

11/01/49

12,214,663‌

26,287,282

FHLMC

3

.000

02/01/50

23,255,678‌

18,412,297

FHLMC

3

.500

04/01/50

16,744,888‌

9,374,455

FHLMC

3

.500

07/01/50

8,517,785‌

2

Federal

Home

Loan

Mortgage

Corp

Gold

(FGLMC)

5

.000

10/01/22

2‌

4

FGLMC

6

.000

11/01/22

4‌

1,587

FGLMC

5

.000

04/01/23

1,594‌

97

FGLMC

4

.500

05/01/23

95‌

1,909

FGLMC

5

.000

05/01/23

1,874‌

609

FGLMC

5

.000

10/01/23

612‌

441

FGLMC

5

.500

10/01/23

439‌

925

FGLMC

5

.000

11/01/23

905‌

2,113

FGLMC

5

.000

03/01/24

2,066‌

430

FGLMC

4

.500

04/01/24

423‌

216

FGLMC

4

.500

05/01/24

213‌

1,606

FGLMC

4

.500

06/01/24

1,582‌

15,110

FGLMC

4

.000

07/01/24

14,636‌

7,197

FGLMC

4

.000

07/01/24

6,971‌

805

FGLMC

5

.500

07/01/24

804‌

12,266

FGLMC

4

.000

08/01/24

11,881‌

2,535

FGLMC

4

.500

09/01/24

2,497‌

1,398

FGLMC

4

.500

09/01/24

1,377‌

714

FGLMC

4

.500

09/01/24

703‌

945

FGLMC

5

.500

09/01/24

941‌

20,056

FGLMC

4

.000

10/01/24

19,423‌

582

FGLMC

4

.500

10/01/24

573‌

2,374

FGLMC

4

.500

10/01/24

2,271‌

619

FGLMC

4

.500

11/01/24

610‌

4,296

FGLMC

4

.500

12/01/24

4,231‌

987

FGLMC

4

.500

02/01/25

972‌

30,928

FGLMC

4

.000

03/01/25

29,945‌

939

FGLMC

4

.500

06/01/25

925‌

2,244

FGLMC

4

.500

07/01/25

2,210‌

53,286

FGLMC

3

.500

10/01/25

50,677‌

19,012

FGLMC

4

.000

10/01/25

18,410‌

85,749

FGLMC

3

.500

11/01/25

81,498‌

49,837

FGLMC

3

.500

11/01/25

47,350‌

24,214

FGLMC

3

.500

12/01/25

23,036‌

13,580

FGLMC

3

.000

01/01/26

13,271‌

191,540

FGLMC

3

.500

01/01/26

181,980‌

15,119

FGLMC

4

.000

04/01/26

14,674‌

33,478

FGLMC

4

.000

05/01/26

32,445‌

8,098

FGLMC

5

.500

07/01/26

8,066‌

76,078

FGLMC

4

.000

08/01/26

73,712‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

141

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

838

FGLMC

6

.000

%

08/01/26

$

853‌

33,123

FGLMC

3

.000

09/01/26

32,309‌

105,195

FGLMC

3

.000

10/01/26

102,491‌

150,070

FGLMC

3

.500

10/01/26

142,810‌

3,059

FGLMC

5

.000

10/01/26

2,991‌

1,214

FGLMC

5

.500

10/01/26

1,210‌

591,007

FGLMC

3

.000

02/01/27

574,756‌

398,063

FGLMC

2

.500

05/01/27

382,230‌

454,111

FGLMC

2

.500

11/01/27

434,859‌

19,507

FGLMC

6

.000

12/01/27

19,848‌

361,602

FGLMC

2

.500

01/01/28

345,811‌

930,300

FGLMC

2

.500

03/01/28

888,563‌

28,223

FGLMC

5

.000

03/01/28

27,700‌

536,659

FGLMC

2

.500

05/01/28

511,912‌

2,914

FGLMC

5

.500

05/01/28

2,903‌

1,636,367

FGLMC

2

.500

07/01/28

1,560,935‌

1,275,570

FGLMC

2

.500

07/01/28

1,215,238‌

343,637

FGLMC

3

.000

10/01/28

330,714‌

19,116

FGLMC

5

.500

01/01/29

19,041‌

729

FGLMC

6

.500

01/01/29

760‌

2,056

FGLMC

4

.000

02/01/29

1,965‌

761,744

FGLMC

3

.500

03/01/29

726,501‌

202

FGLMC

6

.500

03/01/29

209‌

1,360,097

FGLMC

3

.000

07/01/29

1,292,759‌

5,893

FGLMC

5

.000

12/01/29

5,812‌

3,918,487

FGLMC

2

.500

05/01/30

3,640,547‌

9,426

FGLMC

4

.000

08/01/30

9,004‌

77,986

FGLMC

4

.500

01/01/31

76,022‌

119

FGLMC

8

.000

01/01/31

119‌

68,979

FGLMC

4

.000

03/01/31

65,886‌

9,387

FGLMC

4

.000

05/01/31

8,967‌

65,551

FGLMC

4

.500

05/01/31

63,410‌

36,557

FGLMC

4

.000

06/01/31

34,918‌

74,875

FGLMC

4

.000

08/01/31

71,519‌

85,601

FGLMC

4

.000

09/01/31

81,762‌

1,391

FGLMC

6

.500

09/01/31

1,445‌

3,472

FGLMC

8

.000

09/01/31

3,589‌

42,735

FGLMC

3

.500

11/01/31

40,368‌

6,443,040

FGLMC

2

.500

12/01/31

5,971,216‌

32,432

FGLMC

7

.000

12/01/31

33,318‌

6,804

FGLMC

6

.500

01/01/32

7,036‌

16,135

FGLMC

6

.000

02/01/32

16,968‌

738,273

FGLMC

3

.000

03/01/32

681,053‌

6,740

FGLMC

7

.000

04/01/32

7,032‌

6,637

FGLMC

6

.500

05/01/32

6,847‌

497,714

FGLMC

3

.500

09/01/32

470,131‌

3,565

FGLMC

5

.500

11/01/32

3,647‌

5,913,647

FGLMC

3

.000

01/01/33

5,517,595‌

5,332

FGLMC

6

.000

02/01/33

5,531‌

19,400

FGLMC

5

.000

03/01/33

19,499‌

15,737

FGLMC

6

.000

03/01/33

16,025‌

4,639

FGLMC

6

.000

03/01/33

4,721‌

14,116

FGLMC

5

.000

04/01/33

13,841‌

2,512

FGLMC

6

.000

04/01/33

2,641‌

115,208

FGLMC

5

.000

06/01/33

112,648‌

48,690

FGLMC

5

.500

06/01/33

50,089‌

22,857,244

FGLMC

2

.500

07/01/33

21,132,058‌

1,008,556

FGLMC

3

.500

07/01/33

947,623‌

19,313

FGLMC

4

.500

07/01/33

18,897‌

1,687,601

FGLMC

4

.000

08/01/33

1,639,140‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

142

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

1,775

FGLMC

5

.000

%

08/01/33

$

1,784‌

7,026

FGLMC

6

.500

08/01/33

7,248‌

63,416

FGLMC

5

.000

09/01/33

63,620‌

22,362

FGLMC

5

.500

09/01/33

22,339‌

50,895

FGLMC

5

.500

09/01/33

51,286‌

25,625

FGLMC

5

.500

09/01/33

25,594‌

9,422

FGLMC

5

.500

09/01/33

9,409‌

17,247

FGLMC

4

.000

10/01/33

16,337‌

4,050

FGLMC

5

.000

10/01/33

4,083‌

50,123

FGLMC

5

.500

10/01/33

50,507‌

2,676,861

FGLMC

3

.500

11/01/33

2,538,488‌

32,806

FGLMC

5

.500

12/01/33

33,694‌

11,041

FGLMC

5

.500

12/01/33

11,381‌

143,725

FGLMC

7

.000

12/01/33

150,252‌

100,727

FGLMC

5

.000

01/01/34

101,320‌

620,697

FGLMC

3

.000

02/01/34

579,093‌

2,409

FGLMC

5

.500

02/01/34

2,483‌

13,386

FGLMC

5

.000

03/01/34

13,469‌

14,664

FGLMC

5

.500

03/01/34

15,117‌

53,207

FGLMC

5

.000

05/01/34

53,686‌

14,863

FGLMC

4

.500

06/01/34

14,542‌

28,974

FGLMC

5

.000

06/01/34

28,944‌

13,322

FGLMC

5

.500

06/01/34

13,722‌

5,487

FGLMC

6

.000

06/01/34

5,692‌

21,965

FGLMC

6

.000

09/01/34

23,102‌

1,644,412

FGLMC

3

.500

10/01/34

1,545,034‌

3,438

FGLMC

5

.000

11/01/34

3,466‌

104,988

FGLMC

5

.500

11/01/34

108,167‌

100,552

FGLMC

5

.000

12/01/34

100,566‌

27,067

FGLMC

5

.500

12/01/34

27,903‌

3,455

FGLMC

5

.500

12/01/34

3,442‌

1,724

FGLMC

5

.500

01/01/35

1,781‌

929

FGLMC

5

.500

01/01/35

959‌

20,021

FGLMC

5

.500

01/01/35

20,700‌

44,580

FGLMC

4

.500

04/01/35

43,648‌

6,126

FGLMC

6

.000

05/01/35

6,443‌

48,254

FGLMC

6

.000

05/01/35

49,182‌

41,114

FGLMC

7

.000

05/01/35

42,565‌

6,188

FGLMC

5

.500

06/01/35

6,389‌

9,262

FGLMC

5

.500

06/01/35

9,558‌

4,160

FGLMC

5

.000

07/01/35

4,157‌

167,249

FGLMC

5

.000

07/01/35

168,748‌

197,143

FGLMC

5

.000

08/01/35

198,924‌

12,881

FGLMC

5

.500

08/01/35

12,833‌

74,401

FGLMC

6

.000

08/01/35

75,890‌

3,068

FGLMC

4

.500

09/01/35

3,003‌

37,269

FGLMC

5

.000

10/01/35

37,484‌

16,914

FGLMC

5

.000

10/01/35

17,012‌

14,234

FGLMC

5

.000

10/01/35

14,021‌

110,846

FGLMC

5

.500

10/01/35

110,616‌

32,549

FGLMC

5

.000

12/01/35

32,524‌

3,616

FGLMC

5

.000

12/01/35

3,648‌

18,776

FGLMC

6

.000

01/01/36

19,684‌

7,158

FGLMC

5

.000

02/01/36

7,222‌

2,634

FGLMC

5

.000

02/01/36

2,657‌

2,897

FGLMC

6

.000

02/01/36

3,047‌

23,756

FGLMC

5

.500

04/01/36

23,728‌

8,599

FGLMC

5

.500

05/01/36

8,883‌

118,086

FGLMC

6

.000

06/01/36

124,202‌

36,347

FGLMC

5

.000

07/01/36

36,673‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

143

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

43,326

FGLMC

6

.000

%

07/01/36

$

45,422‌

6,307

FGLMC

6

.000

08/01/36

6,612‌

6,115

FGLMC

6

.000

09/01/36

6,228‌

52,521

FGLMC

5

.500

10/01/36

54,312‌

121,400

FGLMC

5

.500

10/01/36

125,539‌

8,931

FGLMC

6

.500

10/01/36

9,214‌

5,556

FGLMC

5

.500

11/01/36

5,745‌

13,203

FGLMC

6

.000

11/01/36

13,887‌

66,252

FGLMC

6

.000

12/01/36

69,234‌

107,418

FGLMC

5

.500

03/01/37

111,082‌

42,010

FGLMC

6

.000

03/01/37

44,186‌

7,094

FGLMC

6

.500

03/01/37

7,319‌

37,821

FGLMC

5

.500

04/01/37

39,111‌

5,097

FGLMC

5

.000

05/01/37

5,096‌

4,663

FGLMC

5

.000

06/01/37

4,659‌

15,805

FGLMC

5

.500

06/01/37

16,345‌

4,148,564

FGLMC

3

.000

07/01/37

3,795,156‌

70,919

FGLMC

6

.000

07/01/37

74,623‌

38,212

FGLMC

6

.000

08/01/37

39,932‌

13,355

FGLMC

6

.000

09/01/37

14,080‌

104,089

FGLMC

5

.500

10/01/37

104,051‌

3,350

FGLMC

6

.000

11/01/37

3,526‌

28,174

FGLMC

6

.500

11/01/37

29,375‌

13,937

FGLMC

6

.000

01/01/38

14,665‌

5,706

FGLMC

6

.000

02/01/38

6,025‌

44,658

FGLMC

6

.000

02/01/38

46,991‌

197,388

FGLMC

5

.000

03/01/38

199,166‌

69,832

FGLMC

5

.000

03/01/38

70,457‌

8,771

FGLMC

5

.000

04/01/38

8,919‌

84,844

FGLMC

5

.000

04/01/38

85,611‌

92,006

FGLMC

5

.500

04/01/38

92,803‌

21,010

FGLMC

5

.500

05/01/38

21,727‌

2,435

FGLMC

5

.500

06/01/38

2,518‌

3,828

FGLMC

6

.000

07/01/38

3,902‌

76,804

FGLMC

5

.500

08/01/38

79,051‌

12,642

FGLMC

5

.500

08/01/38

13,070‌

9,738

FGLMC

5

.000

09/01/38

9,825‌

133,870

FGLMC

5

.500

09/01/38

138,423‌

51,924

FGLMC

5

.500

09/01/38

53,617‌

2,664

FGLMC

5

.500

10/01/38

2,754‌

51,187

FGLMC

6

.000

11/01/38

54,085‌

364,778

FGLMC

5

.500

01/01/39

377,225‌

234,880

FGLMC

4

.500

02/01/39

230,563‌

133,450

FGLMC

5

.000

02/01/39

134,643‌

10,119

FGLMC

5

.500

02/01/39

10,463‌

418

FGLMC

4

.500

03/01/39

402‌

61,199

FGLMC

5

.000

03/01/39

61,752‌

7,213

FGLMC

6

.000

03/01/39

7,621‌

374,873

FGLMC

4

.500

04/01/39

367,006‌

10,817

FGLMC

4

.500

04/01/39

10,616‌

83,736

FGLMC

4

.000

05/01/39

79,904‌

2,130

FGLMC

4

.500

05/01/39

2,090‌

1,280,832

FGLMC

4

.500

05/01/39

1,257,555‌

55,050

FGLMC

4

.500

05/01/39

54,018‌

97,314

FGLMC

4

.500

05/01/39

95,208‌

53,386

FGLMC

5

.000

05/01/39

53,865‌

106,322

FGLMC

4

.000

06/01/39

101,462‌

595,170

FGLMC

4

.500

06/01/39

584,107‌

18,048

FGLMC

4

.500

06/01/39

17,710‌

9,374

FGLMC

5

.000

06/01/39

9,459‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

144

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

3,354

FGLMC

5

.500

%

06/01/39

$

3,468‌

175,384

FGLMC

4

.000

07/01/39

167,358‌

69,794

FGLMC

4

.500

07/01/39

68,484‌

14,447

FGLMC

4

.500

07/01/39

14,173‌

5,449

FGLMC

4

.500

07/01/39

5,333‌

46,598

FGLMC

5

.000

07/01/39

47,020‌

87,264

FGLMC

5

.500

07/01/39

88,847‌

5,999

FGLMC

4

.500

08/01/39

5,886‌

14,054

FGLMC

5

.000

08/01/39

14,181‌

131,072

FGLMC

4

.000

09/01/39

124,760‌

367,151

FGLMC

5

.000

09/01/39

370,429‌

130,026

FGLMC

5

.000

09/01/39

131,202‌

1,355

FGLMC

5

.500

09/01/39

1,358‌

149,030

FGLMC

6

.500

09/01/39

155,114‌

38,101

FGLMC

4

.500

10/01/39

37,371‌

24,818

FGLMC

4

.500

10/01/39

24,362‌

45,284

FGLMC

4

.500

10/01/39

44,438‌

27,496

FGLMC

5

.000

10/01/39

27,745‌

9,210

FGLMC

4

.000

11/01/39

8,745‌

30,925

FGLMC

4

.500

11/01/39

30,341‌

12,105

FGLMC

5

.000

11/01/39

12,214‌

25,307

FGLMC

4

.500

12/01/39

24,823‌

35,799

FGLMC

4

.500

12/01/39

35,019‌

53,248

FGLMC

4

.500

12/01/39

51,812‌

68,265

FGLMC

4

.500

12/01/39

66,192‌

53,778

FGLMC

5

.500

12/01/39

55,613‌

70,785

FGLMC

4

.500

01/01/40

69,061‌

6,566

FGLMC

5

.000

01/01/40

6,626‌

9,100

FGLMC

5

.500

01/01/40

9,410‌

24,530

FGLMC

5

.500

03/01/40

25,367‌

272,874

FGLMC

4

.000

04/01/40

260,386‌

14,337

FGLMC

4

.500

04/01/40

14,062‌

42,038

FGLMC

4

.500

04/01/40

41,230‌

35,491

FGLMC

5

.000

04/01/40

35,813‌

72,175

FGLMC

5

.000

04/01/40

72,587‌

291,599

FGLMC

6

.000

04/01/40

307,306‌

784,823

FGLMC

4

.500

05/01/40

769,747‌

314,010

FGLMC

5

.000

05/01/40

315,822‌

2,477

FGLMC

4

.500

06/01/40

2,430‌

266,393

FGLMC

5

.500

06/01/40

275,470‌

382,417

FGLMC

4

.500

07/01/40

375,088‌

6,974

FGLMC

4

.500

08/01/40

6,840‌

66,522

FGLMC

5

.000

08/01/40

67,123‌

179,983

FGLMC

5

.000

08/01/40

181,609‌

18,155

FGLMC

5

.000

08/01/40

18,319‌

1,169,508

FGLMC

5

.500

08/01/40

1,209,264‌

96,150

FGLMC

4

.000

09/01/40

91,755‌

1,290,015

FGLMC

4

.000

11/01/40

1,224,757‌

834,649

FGLMC

4

.000

12/01/40

796,491‌

116,542

FGLMC

3

.500

01/01/41

107,454‌

193,428

FGLMC

3

.500

01/01/41

178,587‌

113,495

FGLMC

4

.000

01/01/41

108,301‌

122,147

FGLMC

3

.500

02/01/41

112,508‌

419,036

FGLMC

4

.000

02/01/41

397,910‌

138,960

FGLMC

4

.000

02/01/41

131,931‌

775,736

FGLMC

4

.000

04/01/41

740,237‌

135,440

FGLMC

4

.500

04/01/41

132,842‌

30,100

FGLMC

5

.000

04/01/41

30,372‌

120,499

FGLMC

4

.500

05/01/41

118,184‌

146,506

FGLMC

4

.500

06/01/41

143,697‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

145

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

332,365

FGLMC

3

.500

%

10/01/41

$

306,892‌

330,763

FGLMC

5

.000

10/01/41

333,739‌

456,474

FGLMC

3

.500

11/01/41

419,737‌

187,589

FGLMC

4

.500

12/01/41

184,000‌

1,622,550

FGLMC

3

.500

01/01/42

1,492,016‌

473,832

FGLMC

3

.500

02/01/42

435,713‌

531,546

FGLMC

3

.500

04/01/42

488,780‌

1,332,629

FGLMC

4

.000

05/01/42

1,271,841‌

4,253,340

FGLMC

4

.500

05/01/42

4,172,560‌

913,035

FGLMC

3

.500

07/01/42

840,434‌

196,150

FGLMC

3

.000

08/01/42

176,129‌

1,458,420

FGLMC

3

.000

10/01/42

1,309,533‌

1,016,831

FGLMC

3

.000

10/01/42

913,034‌

435,669

FGLMC

3

.500

12/01/42

400,608‌

1,550,693

FGLMC

2

.500

01/01/43

1,319,832‌

2,923,656

FGLMC

3

.000

01/01/43

2,623,684‌

4,337,900

FGLMC

3

.000

04/01/43

3,889,394‌

11,605,137

FGLMC

3

.000

04/01/43

10,402,250‌

1,283,382

FGLMC

3

.500

05/01/43

1,180,055‌

1,790,090

FGLMC

3

.000

08/01/43

1,602,684‌

1,320,575

FGLMC

3

.000

08/01/43

1,181,978‌

1,287,497

FGLMC

3

.500

08/01/43

1,183,842‌

533,732

FGLMC

4

.500

10/01/43

523,552‌

624,796

FGLMC

4

.000

11/01/43

594,242‌

1,170,589

FGLMC

3

.500

02/01/44

1,076,367‌

957,137

FGLMC

4

.000

02/01/44

910,334‌

7,468,246

FGLMC

4

.000

02/01/44

7,103,067‌

422,244

FGLMC

4

.000

04/01/44

401,596‌

526,459

FGLMC

4

.500

05/01/44

516,368‌

959,875

FGLMC

4

.000

06/01/44

913,005‌

1,478,995

FGLMC

4

.000

08/01/44

1,406,756‌

1,097,416

FGLMC

3

.500

09/01/44

1,009,100‌

1,541,767

FGLMC

3

.500

11/01/44

1,417,726‌

2,007,560

FGLMC

3

.500

12/01/44

1,844,257‌

1,236,604

FGLMC

3

.500

01/01/45

1,142,815‌

2,593,774

FGLMC

3

.000

02/01/45

2,314,898‌

3,158,436

FGLMC

3

.500

03/01/45

2,904,159‌

1,925,646

FGLMC

4

.000

03/01/45

1,831,642‌

1,248,646

FGLMC

3

.000

04/01/45

1,114,007‌

2,561,904

FGLMC

3

.500

04/01/45

2,350,298‌

6,996,147

FGLMC

3

.500

07/01/45

6,418,327‌

5,040,684

FGLMC

4

.500

07/01/45

4,948,568‌

14,518,266

FGLMC

3

.000

08/01/45

13,021,857‌

11,225,273

FGLMC

3

.500

10/01/45

10,321,508‌

2,062,016

FGLMC

4

.000

11/01/45

1,961,282‌

3,842,213

FGLMC

3

.500

12/01/45

3,532,975‌

9,075,314

FGLMC

3

.000

03/01/46

8,072,370‌

2,875,427

FGLMC

3

.500

03/01/46

2,644,021‌

1,495,021

FGLMC

4

.000

03/01/46

1,419,477‌

6,630,705

FGLMC

3

.000

04/01/46

5,893,559‌

6,582,434

FGLMC

3

.500

05/01/46

6,102,126‌

5,348,032

FGLMC

3

.500

08/01/46

4,923,945‌

9,972,424

FGLMC

3

.000

09/01/46

8,912,664‌

4,071,238

FGLMC

4

.000

09/01/46

3,863,776‌

3,586,860

FGLMC

3

.000

11/01/46

3,181,450‌

12,583,208

FGLMC

3

.000

11/01/46

11,146,821‌

4,349,535

FGLMC

3

.000

11/01/46

3,870,970‌

2,557,713

FGLMC

3

.000

12/01/46

2,273,508‌

3,278,171

FGLMC

3

.500

12/01/46

3,004,807‌

5,973,228

FGLMC

3

.000

02/01/47

5,304,922‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

146

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

1,957,093

FGLMC

3

.500

%

02/01/47

$

1,795,904‌

1,640,469

FGLMC

4

.000

02/01/47

1,556,402‌

2,752,473

FGLMC

3

.500

05/01/47

2,513,933‌

2,165,740

FGLMC

3

.000

08/01/47

1,928,092‌

2,788,518

FGLMC

3

.000

11/01/47

2,462,978‌

4,350,939

FGLMC

3

.000

12/01/47

3,842,960‌

13,528,211

FGLMC

3

.000

01/01/48

11,996,005‌

4,706,481

FGLMC

3

.000

02/01/48

4,151,822‌

3,446,351

FGLMC

3

.500

03/01/48

3,157,947‌

2,998,893

FGLMC

3

.500

05/01/48

2,742,789‌

2,326,618

FGLMC

4

.000

05/01/48

2,205,817‌

3,187,556

FGLMC

3

.500

07/01/48

2,911,045‌

3,397,490

FGLMC

4

.000

07/01/48

3,212,774‌

6,228,657

FGLMC

4

.000

08/01/48

5,890,039‌

1,188,303

FGLMC

4

.500

09/01/48

1,146,565‌

4,927,183

FGLMC

4

.000

10/01/48

4,652,656‌

2,996,098

FGLMC

4

.500

12/01/48

2,894,999‌

1,592,131

FGLMC

4

.500

02/01/49

1,539,794‌

4,081,480

FGLMC

3

.500

05/01/49

3,717,930‌

20

Federal

National

Mortgage

Association

(FNMA)

6

.000

10/01/22

20‌

10

FNMA

5

.000

03/01/23

10‌

1,360

FNMA

4

.500

06/01/23

1,340‌

211

FNMA

5

.000

06/01/23

212‌

330

FNMA

5

.500

06/01/23

328‌

143

FNMA

5

.000

07/01/23

143‌

3,332

FNMA

5

.000

07/01/23

3,343‌

327

FNMA

5

.500

08/01/23

326‌

1,012

FNMA

5

.000

11/01/23

989‌

1

FNMA

5

.500

11/01/23

1‌

43

FNMA

5

.500

01/01/24

43‌

1,390

FNMA

5

.500

02/01/24

1,383‌

5,347

FNMA

4

.000

03/01/24

5,176‌

535

FNMA

4

.500

04/01/24

526‌

26,674

FNMA

4

.000

05/01/24

25,821‌

7,371

FNMA

4

.000

05/01/24

7,136‌

733

FNMA

4

.000

06/01/24

709‌

890

FNMA

4

.500

07/01/24

875‌

1,056

FNMA

5

.500

07/01/24

1,051‌

23

FNMA

8

.000

07/01/24

23‌

5,605

FNMA

4

.500

08/01/24

5,537‌

5,109

FNMA

4

.000

09/01/24

4,945‌

22,196

FNMA

4

.000

09/01/24

21,482‌

2,217

FNMA

4

.500

09/01/24

2,181‌

58,137

FNMA

4

.500

10/01/24

57,195‌

3,544

FNMA

5

.000

01/01/25

3,481‌

4,093

FNMA

4

.500

02/01/25

4,026‌

30,588

FNMA

4

.500

03/01/25

30,089‌

311

FNMA

4

.500

03/01/25

306‌

16,775

FNMA

5

.000

03/01/25

16,472‌

23,256

FNMA

4

.500

04/01/25

22,875‌

9,332

FNMA

4

.500

04/01/25

9,178‌

118,630

FNMA

4

.000

05/01/25

114,737‌

51,275

FNMA

4

.000

06/01/25

49,593‌

24,572

FNMA

4

.500

06/01/25

24,168‌

14,375

FNMA

4

.000

08/01/25

13,900‌

7,657

FNMA

5

.500

08/01/25

7,703‌

44,389

FNMA

3

.500

09/01/25

42,089‌

57,503

FNMA

4

.000

09/01/25

55,653‌

111,607

FNMA

3

.500

10/01/25

105,920‌

95,292

FNMA

3

.500

10/01/25

90,539‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

147

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

41,468

FNMA

5

.000

%

10/01/25

$

40,663‌

71,820

FNMA

4

.000

11/01/25

69,608‌

96,451

FNMA

3

.500

12/01/25

91,516‌

76,636

FNMA

3

.500

02/01/26

72,722‌

452,008

FNMA

3

.500

02/01/26

428,554‌

24,577

FNMA

4

.000

03/01/26

23,813‌

68,250

FNMA

4

.000

06/01/26

66,002‌

68,384

FNMA

3

.500

08/01/26

65,000‌

54,064

FNMA

3

.500

09/01/26

51,376‌

28,295

FNMA

4

.000

09/01/26

27,416‌

97,734

FNMA

3

.500

10/01/26

92,918‌

2,052

FNMA

6

.000

10/01/26

2,086‌

128,292

FNMA

3

.000

11/01/26

124,852‌

113,896

FNMA

3

.000

12/01/26

110,776‌

309,698

FNMA

3

.000

01/01/27

301,030‌

260,768

FNMA

4

.000

01/01/27

252,153‌

231,978

FNMA

3

.500

02/01/27

221,125‌

409,909

FNMA

3

.000

04/01/27

397,696‌

249,909

FNMA

3

.000

04/01/27

242,470‌

148,332

FNMA

3

.500

05/01/27

141,377‌

177,593

FNMA

2

.500

06/01/27

170,395‌

505,728

FNMA

3

.000

06/01/27

489,452‌

191,738

FNMA

2

.500

07/01/27

184,041‌

443,099

FNMA

2

.500

09/01/27

424,385‌

5,982

FNMA

5

.500

09/01/27

5,952‌

696,366

FNMA

2

.500

10/01/27

666,945‌

461,639

FNMA

3

.000

11/01/27

438,389‌

915

FNMA

5

.500

01/01/28

911‌

1,865,424

FNMA

2

.500

02/01/28

1,731,808‌

1,465,548

FNMA

2

.500

02/01/28

1,400,003‌

739

FNMA

5

.000

02/01/28

724‌

1,096,198

FNMA

2

.500

04/01/28

1,045,797‌

1,556,215

FNMA

2

.500

04/01/28

1,484,681‌

4,518

FNMA

5

.500

06/01/28

4,495‌

447,274

FNMA

2

.500

07/01/28

425,900‌

927,198

FNMA

2

.500

08/01/28

882,322‌

1,106,560

FNMA

3

.000

10/01/28

1,063,264‌

650

FNMA

5

.500

11/01/28

648‌

4

FNMA

7

.500

01/01/29

5‌

1,484,672

FNMA

3

.000

03/01/29

1,409,532‌

5,859

FNMA

4

.000

03/01/29

5,591‌

5,640,183

FNMA

3

.000

04/01/29

5,354,826‌

21,941

FNMA

4

.500

04/01/29

21,366‌

15,632

FNMA

4

.000

05/01/29

14,919‌

8,530

FNMA

4

.500

06/01/29

8,307‌

3,065

FNMA

4

.000

07/01/29

2,925‌

58,903

FNMA

4

.500

08/01/29

57,360‌

7,048,750

FNMA

3

.500

09/01/29

6,688,594‌

11,385

FNMA

4

.500

09/01/29

11,087‌

8,454

FNMA

4

.500

11/01/29

8,077‌

3,351

FNMA

4

.500

01/01/30

3,263‌

823,170

FNMA

2

.500

02/01/30

763,904‌

7,279

FNMA

4

.000

03/01/30

6,946‌

3,237

FNMA

4

.500

05/01/30

3,152‌

4,668

FNMA

4

.500

06/01/30

4,545‌

2,065,158

FNMA

3

.000

07/01/30

1,947,301‌

42,241

FNMA

4

.500

08/01/30

41,131‌

9,392

FNMA

4

.000

09/01/30

8,962‌

62,429

FNMA

4

.000

10/01/30

59,577‌

524,156

FNMA

4

.000

11/01/30

500,128‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

148

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

99,017

FNMA

4

.000

%

11/01/30

$

94,482‌

21,343

FNMA

4

.500

12/01/30

20,783‌

1,813,296

FNMA

3

.000

02/01/31

1,712,390‌

30,027

FNMA

3

.500

02/01/31

28,340‌

33,021

FNMA

4

.000

02/01/31

31,506‌

388

FNMA

7

.500

03/01/31

408‌

2,176,415

FNMA

2

.500

04/01/31

2,019,434‌

91,348

FNMA

3

.500

04/01/31

86,354‌

10,776

FNMA

4

.000

04/01/31

10,282‌

2,161,248

FNMA

3

.000

05/01/31

2,040,723‌

1,079

FNMA

6

.000

05/01/31

1,130‌

2,460,855

FNMA

2

.500

06/01/31

2,283,307‌

526,606

FNMA

4

.500

07/01/31

516,444‌

56,412

FNMA

4

.500

07/01/31

54,509‌

323,528

FNMA

4

.000

08/01/31

308,684‌

3,232,584

FNMA

2

.500

09/01/31

2,999,318‌

1,658,215

FNMA

3

.000

09/01/31

1,565,855‌

20,283

FNMA

4

.000

09/01/31

19,352‌

257

FNMA

6

.500

09/01/31

265‌

12,027

FNMA

6

.000

11/01/31

12,633‌

1,645

FNMA

6

.500

11/01/31

1,705‌

3,437,839

FNMA

2

.500

12/01/31

3,189,724‌

580,199

FNMA

3

.500

01/01/32

547,431‌

3,807

FNMA

6

.000

01/01/32

4,000‌

238,795

FNMA

3

.500

02/01/32

225,312‌

2,881

FNMA

6

.000

02/01/32

3,022‌

2,184,423

FNMA

3

.000

03/01/32

2,035,900‌

12,450

FNMA

6

.500

04/01/32

12,945‌

7,664,256

FNMA

3

.000

06/01/32

7,143,062‌

23,313

FNMA

6

.500

07/01/32

24,407‌

4,888

FNMA

6

.500

08/01/32

5,080‌

270,612

FNMA

3

.000

09/01/32

249,371‌

4,418

FNMA

7

.500

09/01/32

4,433‌

813,538

FNMA

3

.000

10/01/32

749,655‌

24,501

FNMA

5

.500

10/01/32

24,881‌

6,007

FNMA

6

.000

11/01/32

6,303‌

4,977,798

FNMA

3

.000

12/01/32

4,639,111‌

6,178

FNMA

5

.500

12/01/32

6,301‌

311

FNMA

5

.500

12/01/32

309‌

9,908

FNMA

6

.000

12/01/32

10,267‌

55,169

FNMA

5

.500

01/01/33

56,105‌

138,201

FNMA

6

.000

01/01/33

145,186‌

50,295

FNMA

5

.000

02/01/33

50,483‌

1,373

FNMA

5

.000

02/01/33

1,339‌

598,642

FNMA

3

.000

04/01/33

551,601‌

691,352

FNMA

3

.500

04/01/33

648,838‌

2,831

FNMA

6

.000

04/01/33

2,974‌

3,422,144

FNMA

3

.500

05/01/33

3,244,500‌

355,445

FNMA

5

.500

05/01/33

364,219‌

20,452

FNMA

5

.000

06/01/33

20,541‌

40,320

FNMA

5

.500

06/01/33

41,498‌

6,190

FNMA

4

.500

07/01/33

5,955‌

26,461

FNMA

5

.000

07/01/33

26,607‌

36,681

FNMA

4

.500

08/01/33

35,425‌

3,447

FNMA

4

.500

08/01/33

3,317‌

8,145

FNMA

5

.000

08/01/33

8,199‌

21,467

FNMA

5

.500

09/01/33

21,385‌

58,528

FNMA

5

.500

09/01/33

58,270‌

6,114

FNMA

6

.000

09/01/33

6,245‌

55,524

FNMA

4

.500

10/01/33

54,300‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

149

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

10,547

FNMA

5

.000

%

10/01/33

$

10,614‌

4,940

FNMA

5

.000

10/01/33

4,829‌

94,578

FNMA

5

.500

10/01/33

94,958‌

174,207

FNMA

5

.500

10/01/33

176,152‌

2,771

FNMA

4

.500

11/01/33

2,708‌

11,251

FNMA

5

.000

11/01/33

11,308‌

780,675

FNMA

5

.000

11/01/33

784,609‌

86,730

FNMA

5

.000

12/01/33

87,142‌

107,022

FNMA

5

.500

12/01/33

109,176‌

1,126,678

FNMA

3

.000

01/01/34

1,038,308‌

34,711

FNMA

5

.000

02/01/34

34,194‌

152,385

FNMA

6

.000

02/01/34

157,433‌

8,744

FNMA

5

.000

03/01/34

8,792‌

3,488

FNMA

5

.000

03/01/34

3,507‌

206,305

FNMA

5

.000

03/01/34

207,392‌

4,490

FNMA

5

.000

03/01/34

4,515‌

3,034

FNMA

5

.000

03/01/34

3,050‌

10,280

FNMA

5

.000

03/01/34

10,133‌

28,094

FNMA

5

.000

04/01/34

28,314‌

31,458

FNMA

5

.500

04/01/34

31,926‌

3,986

FNMA

4

.500

05/01/34

3,833‌

13,454

FNMA

4

.500

05/01/34

13,052‌

7,238

FNMA

5

.500

07/01/34

7,457‌

11,166

FNMA

5

.500

07/01/34

11,504‌

10,832

FNMA

7

.000

07/01/34

11,224‌

82,619

FNMA

5

.000

08/01/34

83,224‌

9,134

FNMA

5

.000

08/01/34

9,196‌

8,713

FNMA

6

.000

08/01/34

9,154‌

49,570

FNMA

6

.000

08/01/34

52,091‌

8,979,166

FNMA

3

.500

09/01/34

8,496,085‌

175,742

FNMA

5

.500

09/01/34

181,059‌

6,556,750

FNMA

2

.500

11/01/34

5,965,290‌

1,562

FNMA

5

.500

11/01/34

1,611‌

8,406

FNMA

6

.000

11/01/34

8,545‌

9,551,586

FNMA

2

.500

12/01/34

8,689,907‌

13,770,004

FNMA

3

.000

12/01/34

12,822,941‌

2,612

FNMA

5

.000

12/01/34

2,629‌

1,607

FNMA

5

.500

12/01/34

1,656‌

6,616

FNMA

6

.000

12/01/34

6,746‌

248,334

FNMA

4

.500

01/01/35

242,864‌

20,565

FNMA

5

.500

01/01/35

20,640‌

7,599,301

FNMA

3

.500

02/01/35

7,190,925‌

519,581

FNMA

5

.500

02/01/35

535,196‌

23,041

FNMA

5

.500

02/01/35

23,757‌

6,087,452

FNMA

2

.500

03/01/35

5,530,695‌

70,889

FNMA

5

.500

04/01/35

70,565‌

22,137

FNMA

6

.000

04/01/35

23,258‌

21,390

FNMA

6

.000

04/01/35

22,140‌

7,775,336

FNMA

2

.500

05/01/35

7,064,130‌

6,937,920

FNMA

3

.000

05/01/35

6,451,853‌

31,929

FNMA

6

.000

05/01/35

33,219‌

8,588

FNMA

5

.000

06/01/35

8,653‌

1,398

i

FNMA

LIBOR

12

M

+

1.570%

3

.719

07/01/35

1,386‌

26,414

FNMA

5

.000

07/01/35

26,560‌

2,192,345

FNMA

3

.000

08/01/35

2,020,302‌

53,581

FNMA

4

.500

08/01/35

52,377‌

57,060

FNMA

5

.000

08/01/35

57,505‌

38,093

FNMA

5

.000

08/01/35

38,391‌

1,931

FNMA

4

.500

09/01/35

1,883‌

2,451

FNMA

4

.500

09/01/35

2,397‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

150

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

6,470

FNMA

5

.500

%

09/01/35

$

6,667‌

7,844,315

FNMA

2

.500

10/01/35

7,126,634‌

19,685

FNMA

5

.000

10/01/35

19,208‌

68,336

FNMA

5

.500

10/01/35

69,002‌

17,599,082

FNMA

1

.500

11/01/35

15,109,862‌

16,359,366

FNMA

2

.000

11/01/35

14,432,881‌

8,354,689

FNMA

2

.500

11/01/35

7,590,341‌

49,701

FNMA

5

.500

11/01/35

50,769‌

6,612,389

FNMA

2

.000

12/01/35

5,833,749‌

23,208,387

FNMA

1

.500

01/01/36

19,932,967‌

2,778,775

FNMA

3

.500

01/01/36

2,601,451‌

29,220

i

FNMA

LIBOR

12

M

+

1.535%

1

.941

02/01/36

28,913‌

178,518

FNMA

5

.000

02/01/36

179,593‌

15,863,623

FNMA

1

.500

03/01/36

13,624,435‌

77,912,534

FNMA

2

.000

03/01/36

68,735,413‌

74,841

FNMA

6

.000

03/01/36

78,743‌

8,207,422

FNMA

1

.500

04/01/36

7,048,831‌

8,608,774

FNMA

1

.000

05/01/36

7,303,171‌

25,092,749

FNMA

1

.500

05/01/36

21,550,459‌

16,335,173

FNMA

2

.000

05/01/36

14,411,038‌

926,688

FNMA

3

.500

05/01/36

867,558‌

1,152

FNMA

5

.000

05/01/36

1,161‌

131,323

FNMA

6

.000

06/01/36

137,977‌

16,803,896

FNMA

2

.000

07/01/36

14,824,304‌

15,718

i

FNMA

LIBOR

12

M

+

1.595%

3

.845

07/01/36

15,550‌

6,201

FNMA

6

.000

07/01/36

6,322‌

28,331

FNMA

6

.500

07/01/36

29,199‌

7,017,011

FNMA

3

.000

08/01/36

6,466,418‌

49,503

FNMA

5

.500

08/01/36

49,262‌

80,991

FNMA

6

.500

08/01/36

84,287‌

13,365,898

FNMA

1

.500

09/01/36

11,474,576‌

17,352,001

FNMA

2

.000

09/01/36

15,307,684‌

16,609,747

FNMA

2

.500

09/01/36

15,089,462‌

1,137,740

FNMA

3

.000

09/01/36

1,048,425‌

6,607

FNMA

5

.500

09/01/36

6,810‌

2,229

FNMA

6

.500

09/01/36

2,311‌

8,433

FNMA

6

.500

09/01/36

8,739‌

10,616

FNMA

6

.000

10/01/36

11,153‌

27,526,241

FNMA

1

.500

11/01/36

23,630,970‌

18,034,153

FNMA

2

.000

11/01/36

15,909,273‌

2,499,078

FNMA

3

.000

11/01/36

2,302,886‌

5,364

FNMA

6

.500

11/01/36

5,618‌

32,392

FNMA

6

.000

12/01/36

34,033‌

11,694,746

FNMA

1

.500

01/01/37

10,043,261‌

11,557,692

FNMA

2

.000

01/01/37

10,195,663‌

6,190

i

FNMA

LIBOR

12

M

+

1.754%

2

.089

01/01/37

6,134‌

13,226

FNMA

5

.500

01/01/37

13,661‌

4,716,977

FNMA

1

.500

02/01/37

4,049,431‌

581

i

FNMA

LIBOR

6

M

+

1.460%

3

.737

02/01/37

587‌

96,604

FNMA

5

.500

02/01/37

98,233‌

5,606

FNMA

6

.000

02/01/37

5,897‌

10,949

FNMA

7

.000

02/01/37

11,356‌

37,734,415

FNMA

2

.000

03/01/37

33,286,834‌

2,348

i

FNMA

LIBOR

12

M

+

1.808%

2

.362

03/01/37

2,325‌

915

FNMA

5

.000

03/01/37

914‌

33,488

FNMA

6

.500

03/01/37

35,382‌

42,059

FNMA

6

.500

03/01/37

43,864‌

9,575,408

FNMA

2

.500

04/01/37

8,688,990‌

19,196

FNMA

7

.000

04/01/37

20,133‌

40,481

FNMA

5

.000

05/01/37

40,666‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

151

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

1,367

FNMA

7

.000

%

05/01/37

$

1,387‌

5,661

i

FNMA

LIBOR

12

M

+

1.782%

3

.684

06/01/37

5,601‌

6,872

FNMA

5

.500

06/01/37

7,097‌

4,899,191

FNMA

3

.000

08/01/37

4,552,191‌

9,501

FNMA

5

.500

08/01/37

9,808‌

5,048

FNMA

6

.000

08/01/37

5,304‌

13,791

FNMA

5

.500

09/01/37

13,722‌

29,353

FNMA

6

.000

09/01/37

30,628‌

20,790

FNMA

6

.000

09/01/37

21,945‌

17,683

FNMA

6

.000

09/01/37

18,199‌

54,504

FNMA

6

.000

09/01/37

56,485‌

72,161

FNMA

6

.000

09/01/37

75,156‌

12,029

FNMA

6

.500

09/01/37

12,397‌

3,947

FNMA

6

.500

09/01/37

4,068‌

5,781

i

FNMA

DGS1

+

2.275%

2

.400

10/01/37

5,692‌

5,592

FNMA

6

.500

10/01/37

5,892‌

6,911,439

FNMA

3

.500

11/01/37

6,402,507‌

62,423

FNMA

5

.500

11/01/37

64,481‌

116,829

FNMA

6

.000

11/01/37

122,988‌

2,543

FNMA

7

.000

11/01/37

2,557‌

2,205,829

FNMA

3

.000

12/01/37

1,992,225‌

2,294,916

FNMA

4

.000

01/01/38

2,166,879‌

475

FNMA

6

.500

01/01/38

490‌

32,753

FNMA

5

.500

02/01/38

33,707‌

15,707

FNMA

6

.500

02/01/38

16,188‌

9,745

FNMA

7

.000

02/01/38

10,538‌

7,340

i

FNMA

LIBOR

12

M

+

1.770%

2

.520

03/01/38

7,258‌

3,119

FNMA

5

.000

03/01/38

3,143‌

1,559

FNMA

5

.000

03/01/38

1,572‌

6,749

FNMA

5

.500

03/01/38

6,971‌

2,747

FNMA

6

.000

03/01/38

2,918‌

4,747

FNMA

6

.500

03/01/38

4,902‌

8,732

FNMA

6

.500

03/01/38

8,999‌

4,740

FNMA

6

.500

03/01/38

5,071‌

66,887

FNMA

5

.500

04/01/38

68,077‌

113,447

FNMA

6

.000

04/01/38

119,752‌

11,791

FNMA

4

.500

05/01/38

11,337‌

373,402

FNMA

5

.000

05/01/38

376,338‌

78,295

FNMA

5

.000

05/01/38

78,807‌

258,571

FNMA

6

.000

06/01/38

273,069‌

478,784

FNMA

6

.500

06/01/38

501,989‌

92,973

FNMA

6

.000

07/01/38

97,799‌

879

i

FNMA

LIBOR

12

M

+

1.603%

3

.853

08/01/38

897‌

286,353

FNMA

6

.000

09/01/38

301,682‌

9,787

i

FNMA

LIBOR

12

M

+

1.321%

1

.571

10/01/38

9,662‌

601

FNMA

6

.000

10/01/38

612‌

3,623

FNMA

5

.500

11/01/38

3,633‌

1,540

FNMA

5

.000

12/01/38

1,547‌

253,525

FNMA

5

.500

12/01/38

261,878‌

20,112

FNMA

4

.500

01/01/39

19,362‌

29,250

FNMA

5

.000

01/01/39

29,194‌

1,044,633

FNMA

5

.000

01/01/39

1,037,470‌

50,203

FNMA

5

.500

01/01/39

51,600‌

151,137

FNMA

5

.500

01/01/39

156,120‌

11,789

FNMA

6

.000

01/01/39

12,398‌

1,335

FNMA

6

.000

01/01/39

1,360‌

47,470

FNMA

4

.500

02/01/39

46,549‌

161,309

FNMA

4

.500

02/01/39

158,162‌

70,461

FNMA

4

.500

02/01/39

69,107‌

3,616

FNMA

5

.500

02/01/39

3,735‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

152

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

154,192

FNMA

4

.000

%

04/01/39

$

147,019‌

7,810

FNMA

5

.500

04/01/39

8,001‌

302,246

FNMA

4

.500

05/01/39

296,276‌

48,926

FNMA

4

.500

05/01/39

47,865‌

149,357

FNMA

4

.500

06/01/39

146,447‌

52,520

FNMA

4

.500

06/01/39

51,462‌

120,708

FNMA

5

.500

06/01/39

124,688‌

3,113

i

FNMA

LIBOR

12

M

+

1.835%

4

.085

07/01/39

3,172‌

40,217

FNMA

4

.500

07/01/39

39,404‌

31,828

FNMA

4

.500

07/01/39

31,115‌

2,900

FNMA

5

.000

07/01/39

2,923‌

5,838

i

FNMA

LIBOR

12

M

+

1.650%

3

.900

08/01/39

5,798‌

4,719

i

FNMA

LIBOR

12

M

+

1.690%

3

.940

08/01/39

4,818‌

528,379

FNMA

4

.000

08/01/39

501,214‌

93,381

FNMA

4

.000

08/01/39

89,028‌

8,166

FNMA

4

.500

08/01/39

8,010‌

374,702

FNMA

4

.500

08/01/39

366,446‌

103,584

FNMA

4

.500

08/01/39

101,261‌

384,193

FNMA

5

.000

08/01/39

387,213‌

3,182

FNMA

5

.000

08/01/39

3,190‌

208,836

FNMA

4

.000

09/01/39

199,090‌

20,666

FNMA

5

.000

09/01/39

20,829‌

94,976

FNMA

5

.500

09/01/39

98,109‌

60,266

FNMA

6

.000

09/01/39

63,492‌

204,963

FNMA

6

.500

10/01/39

215,645‌

9,574

FNMA

5

.000

11/01/39

9,618‌

222,543

FNMA

4

.000

12/01/39

212,170‌

27,559

FNMA

4

.500

12/01/39

26,870‌

50,204

FNMA

4

.500

12/01/39

49,059‌

780,436

FNMA

4

.500

12/01/39

764,718‌

8,132

i

FNMA

LIBOR

12

M

+

1.815%

2

.161

01/01/40

8,232‌

18,255

FNMA

4

.500

01/01/40

17,887‌

18,434

FNMA

5

.000

01/01/40

18,579‌

127,663

FNMA

6

.000

02/01/40

134,758‌

5,956,696

FNMA

2

.500

03/01/40

5,142,183‌

162,837

FNMA

4

.500

03/01/40

159,542‌

73,971

FNMA

4

.500

03/01/40

72,285‌

7,556

FNMA

5

.000

03/01/40

7,616‌

7,661,969

FNMA

2

.500

04/01/40

6,614,066‌

7,686,936

FNMA

3

.000

04/01/40

6,855,074‌

8,192

FNMA

4

.500

04/01/40

8,026‌

263,286

FNMA

5

.000

04/01/40

265,369‌

187,038

FNMA

5

.000

04/01/40

188,518‌

30,851

i

FNMA

LIBOR

12

M

+

1.839%

2

.259

05/01/40

31,309‌

15,193

i

FNMA

LIBOR

12

M

+

1.784%

2

.888

05/01/40

15,366‌

14,056

i

FNMA

LIBOR

12

M

+

1.835%

3

.210

05/01/40

14,010‌

12,773

FNMA

4

.500

05/01/40

12,391‌

6,920,537

FNMA

2

.500

06/01/40

5,958,691‌

18,464

FNMA

4

.500

07/01/40

18,090‌

14,755

FNMA

4

.500

07/01/40

14,379‌

23,616

FNMA

5

.000

07/01/40

23,803‌

149,446

FNMA

4

.500

08/01/40

146,429‌

216,366

FNMA

4

.500

08/01/40

212,000‌

153,533

FNMA

5

.000

08/01/40

153,976‌

346,644

FNMA

4

.500

09/01/40

339,605‌

157,590

FNMA

4

.500

09/01/40

154,402‌

356,721

FNMA

6

.000

09/01/40

374,793‌

53,017

FNMA

3

.500

10/01/40

48,913‌

224,280

FNMA

4

.000

10/01/40

213,803‌

483,978

FNMA

4

.000

10/01/40

459,115‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

153

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

387,521

FNMA

4

.500

%

10/01/40

$

379,666‌

456,869

FNMA

3

.500

11/01/40

421,466‌

473,650

FNMA

4

.000

11/01/40

451,516‌

523,294

FNMA

4

.000

11/01/40

498,897‌

288,751

FNMA

4

.000

11/01/40

273,877‌

59,229

FNMA

4

.500

11/01/40

58,027‌

14,844,914

FNMA

2

.000

12/01/40

12,439,785‌

24,536

i

FNMA

LIBOR

12

M

+

1.823%

2

.073

12/01/40

24,221‌

152,623

FNMA

4

.000

12/01/40

145,486‌

1,304,264

FNMA

4

.500

12/01/40

1,277,867‌

15,056

FNMA

3

.500

01/01/41

13,889‌

5,018,600

FNMA

1

.500

02/01/41

4,014,941‌

12,246,427

FNMA

2

.000

02/01/41

10,260,389‌

19,221

i

FNMA

LIBOR

12

M

+

1.820%

2

.200

02/01/41

19,451‌

66,896

FNMA

3

.500

02/01/41

61,718‌

439,099

FNMA

4

.000

02/01/41

418,612‌

430,848

FNMA

4

.000

03/01/41

410,688‌

17,148,860

FNMA

2

.000

04/01/41

14,367,839‌

323,137

FNMA

4

.500

04/01/41

316,595‌

362,461

FNMA

4

.500

05/01/41

355,124‌

86,670

FNMA

4

.500

05/01/41

84,914‌

204,381

FNMA

4

.500

06/01/41

199,705‌

37,949

i

FNMA

LIBOR

12

M

+

1.783%

3

.691

07/01/41

38,753‌

275,058

FNMA

4

.500

07/01/41

269,477‌

13,365,196

FNMA

2

.000

08/01/41

11,196,175‌

23,162,166

FNMA

1

.500

09/01/41

18,533,073‌

4,546,599

FNMA

2

.000

09/01/41

3,805,654‌

623,080

FNMA

4

.000

09/01/41

590,995‌

375,811

FNMA

4

.500

09/01/41

367,218‌

160,506

FNMA

5

.500

09/01/41

165,795‌

13,932,207

FNMA

1

.500

10/01/41

11,145,508‌

9,168,442

FNMA

2

.000

10/01/41

7,674,271‌

23,022

i

FNMA

LIBOR

12

M

+

1.815%

2

.118

10/01/41

23,090‌

13,986,859

FNMA

2

.000

11/01/41

11,707,445‌

257,500

FNMA

3

.500

11/01/41

236,749‌

204,246

FNMA

3

.500

11/01/41

187,723‌

106,463

i

FNMA

LIBOR

12

M

+

1.750%

2

.611

12/01/41

108,117‌

9,249,184

FNMA

3

.500

12/01/41

8,497,217‌

1,515,451

FNMA

3

.500

12/01/41

1,393,806‌

264,213

FNMA

4

.000

12/01/41

250,597‌

14,105,816

FNMA

2

.500

01/01/42

12,078,959‌

715,661

FNMA

3

.500

03/01/42

655,845‌

477,470

FNMA

4

.000

03/01/42

455,220‌

1,745,976

FNMA

3

.500

04/01/42

1,603,658‌

673,553

FNMA

3

.500

04/01/42

619,743‌

619,573

FNMA

4

.500

04/01/42

607,023‌

655,450

FNMA

5

.000

04/01/42

660,627‌

437,554

FNMA

4

.000

05/01/42

417,156‌

432,499

FNMA

5

.000

05/01/42

435,471‌

538,953

FNMA

3

.000

06/01/42

483,421‌

2,022,714

FNMA

3

.500

06/01/42

1,853,628‌

1,676,356

FNMA

4

.000

06/01/42

1,597,910‌

1,217,361

FNMA

4

.000

06/01/42

1,160,327‌

3,024,807

FNMA

3

.500

07/01/42

2,771,978‌

623,634

FNMA

4

.500

07/01/42

610,976‌

696,715

FNMA

3

.500

08/01/42

639,930‌

1,122,694

FNMA

3

.000

09/01/42

1,007,075‌

1,418,584

FNMA

3

.500

09/01/42

1,302,944‌

7,343,474

FNMA

4

.500

09/01/42

7,194,899‌

2,607,541

FNMA

3

.000

10/01/42

2,338,948‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

154

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

656,161

FNMA

3

.500

%

10/01/42

$

601,305‌

1,213,761

FNMA

2

.500

01/01/43

1,031,933‌

3,769,676

FNMA

3

.000

01/01/43

3,376,985‌

4,415,729

FNMA

3

.000

02/01/43

3,956,402‌

8,476,048

FNMA

3

.000

04/01/43

7,589,514‌

12,040,450

FNMA

3

.000

04/01/43

10,777,979‌

1,033,749

FNMA

3

.000

04/01/43

926,169‌

2,952,521

FNMA

3

.000

04/01/43

2,644,478‌

2,862,792

FNMA

3

.000

06/01/43

2,561,258‌

64,519

i

FNMA

LIBOR

12

M

+

1.695%

3

.567

06/01/43

65,370‌

2,697,112

FNMA

3

.000

07/01/43

2,412,421‌

6,912,021

FNMA

3

.500

07/01/43

6,348,312‌

1,951,811

FNMA

3

.500

07/01/43

1,788,601‌

23,667

i

FNMA

LIBOR

12

M

+

1.550%

3

.800

07/01/43

23,682‌

2,409,449

FNMA

3

.000

08/01/43

2,153,388‌

1,321,185

FNMA

4

.000

08/01/43

1,256,537‌

2,070,569

FNMA

3

.000

09/01/43

1,852,193‌

2,221,640

FNMA

3

.500

09/01/43

2,040,575‌

2,100,021

FNMA

3

.500

10/01/43

1,928,747‌

190,828

FNMA

4

.500

10/01/43

186,468‌

547,962

FNMA

4

.000

11/01/43

520,575‌

1,225,386

FNMA

4

.000

11/01/43

1,164,150‌

367,648

FNMA

4

.500

12/01/43

360,183‌

1,258,920

FNMA

4

.500

12/01/43

1,233,427‌

1,424,511

FNMA

4

.000

01/01/44

1,353,320‌

19,989,293

FNMA

4

.000

03/01/44

18,914,658‌

856,560

FNMA

4

.000

05/01/44

813,968‌

860,052

FNMA

4

.000

07/01/44

817,227‌

874,019

FNMA

4

.000

07/01/44

826,915‌

633,952

FNMA

3

.500

09/01/44

582,522‌

779,020

FNMA

4

.000

09/01/44

740,332‌

2,009,207

FNMA

3

.500

10/01/44

1,846,284‌

5,470,203

FNMA

5

.000

11/01/44

5,513,417‌

835,834

FNMA

4

.000

12/01/44

794,291‌

6,935,356

FNMA

3

.000

01/01/45

6,211,134‌

2,034,320

FNMA

3

.000

01/01/45

1,818,487‌

8,019,843

FNMA

3

.500

01/01/45

7,368,237‌

3,313,538

FNMA

3

.500

02/01/45

3,037,808‌

2,218,766

FNMA

3

.000

04/01/45

1,977,806‌

2,942,118

FNMA

3

.500

05/01/45

2,697,239‌

3,365,133

FNMA

3

.500

07/01/45

3,091,604‌

3,420,168

FNMA

4

.000

07/01/45

3,245,868‌

10,900,348

FNMA

3

.500

09/01/45

10,014,143‌

5,072,545

FNMA

3

.000

11/01/45

4,524,073‌

2,132,301

FNMA

3

.500

11/01/45

1,959,369‌

6,461,429

FNMA

4

.000

11/01/45

6,131,035‌

1,709,852

FNMA

3

.500

12/01/45

1,571,237‌

6,074,585

FNMA

3

.500

12/01/45

5,581,819‌

2,933,188

FNMA

3

.500

12/01/45

2,695,531‌

8,493,787

FNMA

3

.500

01/01/46

7,784,330‌

1,622,119

FNMA

3

.500

02/01/46

1,490,527‌

4,445,782

FNMA

3

.500

04/01/46

4,093,785‌

2,550,363

FNMA

4

.500

05/01/46

2,483,565‌

2,248,875

FNMA

3

.000

06/01/46

2,002,906‌

3,460,068

FNMA

3

.500

07/01/46

3,177,889‌

5,980,471

FNMA

3

.500

08/01/46

5,494,373‌

3,343,765

FNMA

4

.000

08/01/46

3,170,722‌

3,499,793

FNMA

3

.000

09/01/46

3,114,582‌

4,326,321

FNMA

3

.000

10/01/46

3,848,409‌

22,523,108

FNMA

3

.000

11/01/46

19,999,458‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

155

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

2,026,603

FNMA

3

.500

%

12/01/46

$

1,856,320‌

26,701,994

FNMA

3

.000

01/01/47

23,689,992‌

3,366,500

FNMA

3

.000

02/01/47

2,989,715‌

2,283,627

FNMA

4

.000

02/01/47

2,164,664‌

4,776,820

FNMA

3

.000

03/01/47

4,242,168‌

2,925,417

FNMA

3

.500

03/01/47

2,676,899‌

688,545

FNMA

4

.000

03/01/47

652,676‌

531,959

FNMA

4

.500

03/01/47

514,508‌

4,349,673

FNMA

3

.000

04/01/47

3,881,370‌

6,698,755

FNMA

3

.000

04/01/47

5,946,322‌

3,863,963

FNMA

3

.500

04/01/47

3,515,745‌

1,938,590

FNMA

3

.500

05/01/47

1,782,524‌

3,868,426

FNMA

3

.500

07/01/47

3,553,897‌

15,087,285

FNMA

4

.000

07/01/47

14,275,890‌

19,867,796

FNMA

3

.500

11/01/47

18,113,169‌

1,481,225

FNMA

4

.500

11/01/47

1,434,966‌

1,956,196

FNMA

3

.500

01/01/48

1,789,116‌

7,240,798

FNMA

4

.000

01/01/48

6,844,928‌

1,129,667

FNMA

3

.000

02/01/48

996,900‌

1,607,219

FNMA

3

.500

02/01/48

1,469,080‌

11,153,975

FNMA

3

.500

04/01/48

10,172,105‌

2,313,556

FNMA

4

.000

04/01/48

2,192,273‌

200,956

FNMA

4

.500

04/01/48

194,426‌

3,404,875

FNMA

3

.500

06/01/48

3,112,362‌

5,961,345

FNMA

4

.000

07/01/48

5,620,240‌

3,848,165

FNMA

4

.500

07/01/48

3,702,715‌

2,195,203

FNMA

4

.000

08/01/48

2,068,620‌

1,621,176

FNMA

4

.000

10/01/48

1,531,871‌

2,274,250

FNMA

4

.500

10/01/48

2,196,106‌

17,772,623

FNMA

3

.000

11/01/48

15,798,692‌

4,418,557

FNMA

4

.000

11/01/48

4,170,835‌

1,588,612

FNMA

4

.500

11/01/48

1,529,930‌

1,640,077

FNMA

4

.000

12/01/48

1,546,671‌

1,410,295

FNMA

4

.500

01/01/49

1,361,368‌

3,811,578

FNMA

4

.500

02/01/49

3,680,709‌

4,800,742

FNMA

4

.000

04/01/49

4,533,461‌

4,497,990

FNMA

5

.000

04/01/49

4,460,408‌

5,275,630

FNMA

3

.500

07/01/49

4,801,822‌

19,668,394

FNMA

3

.500

08/01/49

17,901,310‌

3,173,158

FNMA

4

.000

08/01/49

2,984,757‌

11,317,588

FNMA

3

.000

09/01/49

9,944,640‌

14,146,600

FNMA

3

.000

12/01/49

12,514,472‌

6,355,486

FNMA

3

.000

12/01/49

5,582,722‌

12,321,953

FNMA

3

.000

12/01/49

10,804,413‌

25,133,600

FNMA

3

.000

02/01/50

22,180,299‌

11,579,947

FNMA

3

.500

02/01/50

10,593,228‌

15,549,715

FNMA

3

.000

03/01/50

13,631,461‌

22,444,644

FNMA

3

.000

05/01/50

19,703,206‌

12,496,309

FNMA

3

.000

06/01/50

10,960,458‌

10,445,405

FNMA

4

.000

06/01/50

9,790,730‌

12,004,821

FNMA

4

.000

08/01/50

11,236,716‌

32,182,463

FNMA

2

.500

09/01/50

27,243,468‌

173,532,804

FNMA

2

.500

10/01/50

146,729,193‌

21,454,106

FNMA

1

.500

11/01/50

16,510,671‌

105,506,403

FNMA

2

.000

11/01/50

86,009,408‌

15,572,038

FNMA

2

.500

11/01/50

13,165,574‌

60,337,852

FNMA

1

.500

12/01/50

46,417,750‌

111,962,282

FNMA

2

.000

12/01/50

91,115,701‌

10,086,520

FNMA

2

.500

12/01/50

8,527,530‌

84,892,020

FNMA

2

.000

01/01/51

69,184,725‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

156

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

8,838,366

FNMA

1

.500

%

02/01/51

$

6,797,225‌

8,073,222

FNMA

2

.000

02/01/51

6,579,987‌

102,123,322

FNMA

2

.500

02/01/51

86,331,068‌

53,300,920

FNMA

1

.500

03/01/51

40,991,074‌

115,285,316

FNMA

2

.000

03/01/51

93,887,893‌

23,082,376

FNMA

1

.500

04/01/51

17,752,902‌

139,267,714

FNMA

2

.000

04/01/51

113,398,815‌

31,657,466

FNMA

2

.500

04/01/51

26,734,992‌

88,779,224

FNMA

2

.000

05/01/51

72,269,079‌

85,497,353

FNMA

2

.000

06/01/51

69,591,410‌

50,847,037

FNMA

2

.500

06/01/51

43,000,626‌

54,542,976

FNMA

2

.000

07/01/51

44,383,587‌

83,476,208

FNMA

2

.000

08/01/51

67,901,840‌

102,738,463

FNMA

2

.500

08/01/51

86,641,707‌

46,441,441

FNMA

2

.000

09/01/51

37,767,967‌

44,767,298

FNMA

2

.500

09/01/51

37,741,276‌

89,914,853

FNMA

2

.000

11/01/51

72,988,596‌

46,402,072

FNMA

2

.500

11/01/51

39,088,174‌

71,993,868

FNMA

2

.000

12/01/51

58,356,850‌

76,699,934

FNMA

2

.000

12/01/51

62,259,974‌

84,677,028

FNMA

2

.500

12/01/51

71,309,268‌

95,105,330

FNMA

2

.500

01/01/52

80,069,259‌

74,346,896

FNMA

3

.000

01/01/52

64,958,240‌

62,816,690

FNMA

2

.000

02/01/52

51,028,746‌

18,456,578

FNMA

3

.500

02/01/52

16,645,795‌

82,141,306

FNMA

2

.500

03/01/52

69,103,860‌

9,453,656

FNMA

3

.500

03/01/52

8,520,040‌

36,788,314

FNMA

2

.000

04/01/52

29,855,432‌

9,657,247

FNMA

3

.500

04/01/52

8,702,261‌

58,870,441

FNMA

2

.500

05/01/52

49,513,738‌

20,083,101

FNMA

3

.000

05/01/52

17,501,461‌

7,813,681

FNMA

3

.500

05/01/52

7,042,618‌

60,440,562

FNMA

4

.000

05/01/52

56,173,419‌

9,837,896

FNMA

2

.500

06/01/52

8,276,448‌

4,905,531

FNMA

3

.500

06/01/52

4,422,718‌

14,690,194

FNMA

4

.000

06/01/52

13,647,101‌

34,157,897

FNMA

4

.500

06/01/52

32,632,450‌

39,708,096

FNMA

3

.500

07/01/52

35,809,677‌

9,821,787

FNMA

4

.000

07/01/52

9,124,264‌

33,227,158

h

FNMA

4

.000

07/01/52

30,848,564‌

9,795,886

FNMA

4

.500

07/01/52

9,358,414‌

24,664,430

FNMA

4

.500

07/01/52

23,562,949‌

24,335,786

FNMA

5

.000

07/01/52

23,732,207‌

7,248,751

FNMA

2

.500

08/01/52

6,104,510‌

4,929,346

FNMA

5

.000

08/01/52

4,807,013‌

9,984,070

FNMA

3

.500

09/01/52

8,998,272‌

14,923,160

h

FNMA

4

.500

09/01/52

14,256,711‌

9,000,000

FNMA

4

.000

10/01/52

8,358,016‌

20,000,000

FNMA

4

.500

10/01/52

19,106,826‌

8,000,000

FNMA

5

.000

10/01/52

7,801,454‌

15,000,000

h

FNMA

5

.000

10/01/52

14,627,732‌

17,004,149

h

FNMA

5

.500

10/01/52

16,939,541‌

1,867,116

FNMA

3

.500

07/01/55

1,711,829‌

216

Government

National

Mortgage

Association

(GNMA)

4

.500

01/20/24

213‌

2,445

GNMA

4

.000

04/15/24

2,397‌

190

GNMA

4

.500

07/15/24

188‌

13,585

GNMA

4

.000

08/15/24

13,314‌

3,275

GNMA

4

.500

08/15/24

3,243‌

8,365

GNMA

4

.000

09/15/24

8,163‌

2,311

GNMA

4

.500

01/15/25

2,289‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

157

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

21,768

GNMA

4

.000

%

08/15/25

$

21,328‌

10,880

GNMA

3

.500

03/15/26

10,354‌

12,407

GNMA

4

.000

04/15/26

12,153‌

13,713

GNMA

4

.000

06/20/26

13,241‌

21,780

GNMA

3

.500

11/20/26

20,717‌

106,605

GNMA

3

.000

12/15/26

103,822‌

350,904

GNMA

2

.500

04/20/27

337,592‌

286,057

GNMA

2

.500

09/20/27

274,155‌

165

GNMA

6

.500

09/15/28

170‌

98

GNMA

6

.500

09/15/28

102‌

819

GNMA

6

.500

11/15/28

846‌

153

GNMA

7

.500

11/15/28

153‌

433,290

GNMA

3

.500

11/20/28

412,659‌

4,904

GNMA

8

.500

10/15/30

4,967‌

1,671

GNMA

8

.500

10/20/30

1,758‌

208

GNMA

8

.500

12/15/30

225‌

240

GNMA

7

.000

06/20/31

250‌

213

GNMA

7

.000

07/15/31

213‌

2,160,701

GNMA

3

.000

08/20/32

2,005,207‌

83,389

GNMA

6

.000

10/15/32

89,161‌

11,419

GNMA

5

.500

12/20/32

11,930‌

28,436

GNMA

5

.500

05/15/33

28,771‌

2,960

GNMA

5

.000

07/15/33

2,927‌

12,658

GNMA

5

.500

07/15/33

13,025‌

3,144

GNMA

5

.000

07/20/33

3,197‌

8,974

GNMA

5

.000

08/15/33

8,874‌

13,061

GNMA

5

.000

08/15/33

12,919‌

50,424

GNMA

5

.500

09/15/33

52,095‌

42,958

GNMA

6

.000

11/20/33

45,120‌

18,372

GNMA

5

.500

05/20/34

18,638‌

27,819

GNMA

6

.000

09/20/34

29,513‌

1,820

GNMA

5

.000

10/20/34

1,851‌

50,484

GNMA

5

.500

11/15/34

52,891‌

26,874

GNMA

6

.500

01/15/35

28,020‌

14,682

GNMA

5

.500

02/20/35

15,105‌

269,017

GNMA

5

.000

03/20/35

273,583‌

81,764

GNMA

5

.000

04/15/35

81,987‌

83,216

GNMA

5

.500

05/20/35

86,928‌

2,863

GNMA

5

.000

09/20/35

2,874‌

2,015

GNMA

5

.000

11/15/35

2,038‌

3,156

GNMA

5

.000

11/15/35

3,121‌

22,963

GNMA

5

.500

02/20/36

23,989‌

3,235

GNMA

5

.500

03/15/36

3,401‌

7,197

GNMA

5

.500

05/20/36

7,431‌

2,884

GNMA

6

.500

06/15/36

2,986‌

69,553

GNMA

5

.500

06/20/36

72,655‌

4,385

GNMA

5

.000

09/15/36

4,438‌

2,207

GNMA

6

.000

09/15/36

2,292‌

6,909

GNMA

6

.000

10/20/36

7,418‌

4,659

GNMA

5

.000

12/15/36

4,715‌

4,277

GNMA

6

.000

01/20/37

4,593‌

57,559

GNMA

5

.500

02/15/37

59,044‌

15,718

GNMA

6

.000

02/20/37

16,884‌

107,799

GNMA

6

.000

04/15/37

116,381‌

40,932

GNMA

6

.000

04/20/37

41,866‌

6,977

GNMA

6

.000

06/15/37

7,152‌

8,471

GNMA

6

.000

08/20/37

9,099‌

7,253

GNMA

6

.500

08/20/37

7,617‌

33,328

GNMA

6

.500

11/20/37

35,368‌

11,094

GNMA

6

.000

12/15/37

11,778‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

158

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

1,776

GNMA

5

.000

%

02/20/38

$

1,806‌

40,803

GNMA

5

.000

04/15/38

40,698‌

1,359

GNMA

5

.500

05/20/38

1,394‌

6,343

GNMA

5

.500

06/15/38

6,669‌

21,895

GNMA

6

.000

06/20/38

23,518‌

20,359

GNMA

5

.500

07/15/38

21,396‌

155,421

GNMA

5

.000

07/20/38

158,051‌

148,550

GNMA

5

.500

07/20/38

151,362‌

4,607

GNMA

5

.500

08/15/38

4,878‌

47,474

GNMA

6

.000

08/15/38

51,150‌

42,310

GNMA

6

.000

08/15/38

43,619‌

14,796

GNMA

6

.000

08/20/38

15,887‌

57,862

GNMA

6

.000

09/20/38

61,886‌

32,788

GNMA

5

.000

10/15/38

32,424‌

6,101

GNMA

5

.500

10/15/38

6,376‌

7,493

GNMA

6

.500

10/20/38

7,523‌

3,125

GNMA

6

.500

10/20/38

3,307‌

782

GNMA

5

.500

11/15/38

827‌

13,464

GNMA

6

.500

11/20/38

14,217‌

43,683

GNMA

6

.000

12/15/38

46,085‌

912

GNMA

6

.500

12/15/38

946‌

11,090

GNMA

5

.000

01/15/39

11,224‌

228,470

GNMA

4

.500

01/20/39

225,767‌

33,390

GNMA

6

.500

01/20/39

35,233‌

9,269

GNMA

5

.000

02/15/39

9,350‌

727

GNMA

6

.000

02/15/39

744‌

106,000

GNMA

4

.500

03/15/39

103,544‌

8,108

GNMA

4

.500

03/15/39

7,996‌

3,159

GNMA

4

.500

03/20/39

3,122‌

63,356

GNMA

5

.500

03/20/39

66,198‌

5,473

GNMA

4

.500

04/15/39

5,383‌

105,974

GNMA

5

.500

04/15/39

111,444‌

2,158

GNMA

5

.000

04/20/39

2,194‌

9,327

GNMA

4

.000

05/15/39

8,963‌

153,967

GNMA

4

.500

05/15/39

151,680‌

76,497

GNMA

5

.000

05/15/39

76,981‌

11,301

GNMA

4

.000

05/20/39

10,796‌

27,754

GNMA

4

.500

05/20/39

27,426‌

663,955

GNMA

5

.000

05/20/39

675,142‌

4,251

GNMA

4

.500

06/15/39

4,181‌

387,006

GNMA

4

.500

06/15/39

390,649‌

646,029

GNMA

5

.000

06/15/39

650,087‌

450,059

GNMA

5

.000

06/15/39

449,743‌

10,427

GNMA

5

.000

06/15/39

10,554‌

4,172

GNMA

5

.000

06/15/39

4,208‌

4,879

GNMA

5

.000

06/15/39

4,938‌

6,320

GNMA

4

.000

06/20/39

6,036‌

4,137

GNMA

5

.000

06/20/39

4,206‌

434,477

GNMA

4

.000

07/15/39

414,957‌

5,078

GNMA

4

.500

07/15/39

4,961‌

13,450

GNMA

4

.500

07/15/39

13,140‌

543,815

GNMA

4

.500

07/15/39

535,777‌

7,023

GNMA

5

.000

07/15/39

7,108‌

60,456

GNMA

4

.500

07/20/39

59,741‌

57,051

GNMA

5

.000

07/20/39

58,007‌

6,667

GNMA

5

.500

07/20/39

6,966‌

27,535

GNMA

4

.000

08/15/39

26,388‌

50,839

GNMA

5

.000

08/15/39

50,862‌

3,512

GNMA

5

.500

08/15/39

3,603‌

17,968

GNMA

6

.000

08/15/39

18,397‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

159

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

18,718

GNMA

4

.000

%

08/20/39

$

17,878‌

14,336

GNMA

5

.000

08/20/39

14,570‌

19,674

GNMA

5

.000

09/20/39

19,839‌

4,291

GNMA

4

.500

10/15/39

4,192‌

2,216

GNMA

5

.000

10/15/39

2,235‌

6,161

GNMA

4

.500

10/20/39

6,088‌

12,944

GNMA

4

.500

11/15/39

12,753‌

8,838

GNMA

4

.500

11/20/39

8,734‌

10,870

GNMA

5

.000

11/20/39

11,028‌

20,114

GNMA

4

.500

12/15/39

19,621‌

302,276

GNMA

4

.500

12/15/39

297,785‌

8,878

GNMA

4

.500

12/20/39

8,773‌

342,763

GNMA

5

.000

12/20/39

347,743‌

294,249

GNMA

4

.500

01/20/40

290,759‌

5,186

GNMA

5

.500

01/20/40

5,413‌

198,513

GNMA

5

.500

02/15/40

210,139‌

26,314

GNMA

4

.000

03/15/40

25,380‌

4,810

GNMA

5

.000

03/15/40

4,780‌

1,389

GNMA

4

.500

04/15/40

1,350‌

53,937

GNMA

5

.000

04/15/40

53,963‌

11,917

GNMA

4

.500

04/20/40

11,775‌

1,845

GNMA

4

.500

05/15/40

1,818‌

55,029

GNMA

5

.000

05/15/40

55,274‌

93,058

i

GNMA

DGS1

+

1.500%

2

.875

05/20/40

92,747‌

2,480

GNMA

4

.500

05/20/40

2,451‌

1,154,004

GNMA

4

.500

06/15/40

1,138,050‌

3,299

GNMA

4

.500

06/15/40

3,251‌

3,530

GNMA

4

.500

06/15/40

3,477‌

62,437

GNMA

5

.000

06/20/40

63,114‌

111,042

GNMA

4

.500

07/15/40

109,393‌

33,002

GNMA

4

.500

07/15/40

32,236‌

419,281

GNMA

4

.500

07/20/40

414,317‌

12,712

GNMA

5

.000

07/20/40

12,795‌

84,142

GNMA

4

.000

08/15/40

80,112‌

454,149

GNMA

4

.000

08/15/40

433,122‌

42,129

GNMA

4

.500

08/15/40

41,542‌

30,856

GNMA

4

.500

08/20/40

30,491‌

27,398

GNMA

4

.500

09/20/40

27,074‌

10,206

GNMA

5

.500

09/20/40

10,660‌

9,885

GNMA

6

.500

09/20/40

10,262‌

14,054

GNMA

4

.000

10/15/40

13,453‌

22,937

GNMA

6

.000

10/20/40

24,634‌

163,639

GNMA

4

.000

11/15/40

155,807‌

358,938

GNMA

4

.000

11/20/40

342,802‌

82,126

GNMA

3

.500

12/15/40

76,544‌

163,365

GNMA

5

.500

12/20/40

170,680‌

460,525

GNMA

4

.000

01/15/41

443,304‌

967,459

GNMA

4

.000

01/20/41

920,312‌

91,890

GNMA

4

.000

02/15/41

88,412‌

264,605

GNMA

4

.500

02/20/41

258,577‌

155,533

GNMA

4

.500

03/15/41

153,408‌

302,265

GNMA

4

.500

04/20/41

298,686‌

69,818

GNMA

5

.000

04/20/41

70,489‌

23,483

i

GNMA

DGS1

+

1.500%

2

.875

06/20/41

23,421‌

59,099

GNMA

4

.000

07/15/41

56,876‌

125,147

GNMA

4

.000

07/20/41

119,512‌

425,935

GNMA

4

.500

07/20/41

420,891‌

375,295

GNMA

5

.000

07/20/41

379,122‌

84,111

GNMA

4

.500

08/15/41

82,862‌

183,217

GNMA

5

.000

08/20/41

184,980‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

160

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

255,087

GNMA

4

.000

%

09/15/41

$

243,297‌

13,739

i

GNMA

DGS1

+

1.500%

1

.625

09/20/41

13,563‌

586,675

GNMA

4

.000

09/20/41

560,299‌

42,740

GNMA

4

.000

10/15/41

41,114‌

27,134

i

GNMA

DGS1

+

1.500%

1

.750

10/20/41

26,689‌

15,759

i

GNMA

DGS1

+

1.500%

1

.750

10/20/41

15,501‌

750,539

GNMA

4

.000

10/20/41

716,798‌

110,711

GNMA

5

.500

10/20/41

115,675‌

202,463

GNMA

3

.500

11/15/41

188,749‌

529,185

GNMA

4

.000

11/15/41

506,481‌

999,350

GNMA

4

.500

11/20/41

987,535‌

448,406

GNMA

5

.000

11/20/41

452,997‌

100,367

GNMA

6

.000

11/20/41

107,806‌

528,824

GNMA

3

.500

01/20/42

492,007‌

74,598

i

GNMA

DGS1

+

1.500%

2

.625

02/20/42

74,463‌

252,682

GNMA

3

.500

03/20/42

235,005‌

485,147

GNMA

4

.500

03/20/42

479,395‌

471,966

GNMA

3

.500

04/15/42

439,993‌

1,016,046

GNMA

3

.500

05/20/42

929,952‌

2,396,246

GNMA

3

.500

05/20/42

2,227,121‌

557,868

GNMA

4

.000

05/20/42

536,406‌

994,149

GNMA

3

.500

07/15/42

926,784‌

100,550

i

GNMA

DGS1

+

1.500%

1

.625

07/20/42

99,299‌

561,318

GNMA

3

.500

07/20/42

521,314‌

741,382

GNMA

3

.000

08/20/42

666,659‌

1,026,599

GNMA

3

.500

08/20/42

944,822‌

2,331,712

GNMA

3

.500

08/20/42

2,157,827‌

542,044

GNMA

6

.000

08/20/42

581,912‌

946,241

GNMA

3

.500

10/20/42

873,817‌

1,098,982

GNMA

3

.000

11/20/42

988,342‌

1,285,770

GNMA

3

.000

12/20/42

1,156,271‌

1,086,787

GNMA

3

.000

12/20/42

975,701‌

718,801

GNMA

3

.000

01/15/43

642,252‌

2,883,064

GNMA

3

.000

01/15/43

2,575,405‌

960,062

GNMA

3

.000

01/20/43

863,382‌

1,639,037

GNMA

3

.000

02/20/43

1,474,070‌

1,293,839

GNMA

3

.000

02/20/43

1,179,581‌

272,288

GNMA

3

.000

04/15/43

243,290‌

317,206

GNMA

5

.000

04/20/43

322,619‌

648,880

GNMA

3

.000

05/20/43

583,551‌

986,898

GNMA

3

.000

06/20/43

887,505‌

2,521,383

GNMA

3

.500

06/20/43

2,309,092‌

2,155,041

GNMA

3

.000

07/20/43

1,937,747‌

1,017,995

GNMA

3

.500

07/20/43

943,499‌

4,289,256

GNMA

4

.500

08/20/43

4,280,646‌

1,408,564

GNMA

3

.500

09/20/43

1,304,531‌

456,707

GNMA

4

.000

09/20/43

433,388‌

5,917,601

GNMA

3

.500

10/20/43

5,480,513‌

2,737,349

GNMA

4

.000

10/20/43

2,597,542‌

253,418

GNMA

3

.500

11/20/43

234,704‌

492,527

GNMA

4

.000

11/20/43

467,370‌

470,474

GNMA

4

.500

12/20/43

469,241‌

520,190

GNMA

4

.500

01/20/44

519,146‌

619,264

GNMA

3

.500

02/20/44

573,539‌

837,203

GNMA

4

.000

02/20/44

794,500‌

832,915

GNMA

4

.000

05/20/44

790,456‌

869,339

GNMA

4

.000

06/20/44

824,998‌

2,254,870

GNMA

3

.500

07/20/44

2,088,385‌

6,932,579

GNMA

3

.500

10/20/44

6,420,457‌

724,141

GNMA

4

.500

10/20/44

717,458‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

161

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

1,599,576

GNMA

3

.500

%

11/20/44

$

1,481,464‌

1,998,977

GNMA

3

.000

12/20/44

1,799,486‌

3,704,314

GNMA

4

.000

12/20/44

3,515,200‌

5,047,887

GNMA

3

.500

02/20/45

4,674,958‌

2,972,073

GNMA

4

.000

03/20/45

2,820,429‌

2,053,127

GNMA

3

.000

04/20/45

1,846,510‌

4,380,824

GNMA

3

.000

06/20/45

3,938,620‌

9,957,551

GNMA

3

.000

07/20/45

8,951,424‌

3,388,025

GNMA

4

.000

10/20/45

3,215,384‌

5,717,543

GNMA

4

.000

11/20/45

5,436,763‌

2,544,238

GNMA

3

.000

12/20/45

2,279,869‌

2,285,911

GNMA

3

.500

12/20/45

2,107,090‌

12,325,794

GNMA

3

.000

03/20/46

11,075,068‌

4,296,247

GNMA

3

.000

04/20/46

3,867,241‌

2,609,166

GNMA

4

.000

04/20/46

2,459,085‌

11,573,089

GNMA

3

.000

05/20/46

10,402,034‌

7,143,955

GNMA

3

.500

05/20/46

6,605,826‌

2,638,732

GNMA

3

.000

06/20/46

2,365,452‌

1,605,933

GNMA

3

.500

06/20/46

1,484,242‌

1,994,939

GNMA

3

.000

07/20/46

1,792,159‌

3,410,220

GNMA

3

.500

08/20/46

3,151,825‌

1,929,868

GNMA

3

.000

09/20/46

1,732,069‌

7,942,010

GNMA

3

.500

09/20/46

7,338,327‌

3,777,890

GNMA

3

.000

10/20/46

3,383,933‌

2,085,004

GNMA

3

.000

12/20/46

1,871,497‌

13,013,577

GNMA

3

.000

01/20/47

11,637,895‌

1,492,708

GNMA

4

.000

01/20/47

1,416,773‌

3,252,424

GNMA

4

.000

04/20/47

3,085,140‌

3,441,114

GNMA

3

.500

05/20/47

3,179,534‌

1,751,753

GNMA

3

.500

06/20/47

1,617,329‌

2,217,604

GNMA

3

.000

07/20/47

1,987,761‌

4,062,400

GNMA

4

.500

07/20/47

3,949,922‌

4,148,405

GNMA

3

.000

08/20/47

3,718,488‌

4,622,999

GNMA

3

.500

08/20/47

4,264,323‌

8,220,279

GNMA

3

.000

09/20/47

7,366,653‌

10,488,821

GNMA

4

.000

09/20/47

9,981,485‌

7,460,324

GNMA

3

.500

11/20/47

6,869,124‌

5,554,512

GNMA

3

.500

12/20/47

5,120,526‌

3,529,296

GNMA

3

.500

01/20/48

3,250,684‌

4,456,879

GNMA

4

.000

05/20/48

4,222,488‌

3,302,481

GNMA

4

.000

06/20/48

3,117,217‌

7,678,347

GNMA

3

.500

07/20/48

7,072,792‌

3,453,457

GNMA

4

.000

08/20/48

3,270,611‌

2,453,712

GNMA

5

.000

08/20/48

2,414,359‌

2,237,082

GNMA

4

.500

09/20/48

2,171,654‌

1,904,612

GNMA

5

.000

10/20/48

1,877,005‌

1,552,580

GNMA

4

.500

11/20/48

1,506,503‌

3,585,534

GNMA

3

.500

04/20/49

3,296,338‌

12,075,053

GNMA

4

.500

04/20/49

11,686,629‌

3,668,813

GNMA

4

.000

05/20/49

3,458,045‌

2,333,050

GNMA

3

.500

06/20/49

2,132,456‌

5,251,827

GNMA

3

.500

09/20/49

4,824,312‌

3,776,875

GNMA

3

.500

11/20/49

3,466,836‌

29,112,241

GNMA

2

.500

12/20/49

25,188,794‌

15,812,981

GNMA

3

.000

02/20/50

14,091,793‌

8,236,150

GNMA

3

.500

02/20/50

7,564,633‌

11,592,905

GNMA

3

.500

04/20/50

10,644,285‌

10,877,064

GNMA

3

.000

05/20/50

9,682,484‌

44,853,798

GNMA

3

.000

08/20/50

39,894,194‌

11,374,664

GNMA

3

.000

09/20/50

10,119,756‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

162

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

17,419,480

GNMA

2

.500

%

10/20/50

$

15,044,651‌

45,303,529

GNMA

2

.000

11/20/50

38,034,014‌

15,544,719

GNMA

2

.500

12/20/50

13,423,165‌

22,352,990

GNMA

2

.000

01/20/51

18,762,522‌

6,691,019

GNMA

2

.500

01/20/51

5,776,323‌

15,936,807

GNMA

2

.000

02/20/51

13,375,609‌

4,358,982

GNMA

1

.500

04/20/51

3,487,771‌

18,690,875

GNMA

2

.000

04/20/51

15,679,309‌

39,386,123

GNMA

2

.500

04/20/51

33,992,444‌

16,199,674

GNMA

2

.500

05/20/51

13,985,552‌

84,900,417

GNMA

2

.500

07/20/51

73,241,297‌

22,262,192

GNMA

2

.500

08/20/51

19,213,901‌

27,244,803

GNMA

2

.500

09/20/51

23,498,112‌

177,335,846

GNMA

2

.000

11/20/51

148,356,669‌

19,038,098

GNMA

2

.000

12/20/51

15,923,243‌

28,292,009

GNMA

2

.500

12/20/51

24,394,996‌

28,042,642

GNMA

3

.000

12/20/51

24,835,995‌

4,779,743

GNMA

3

.500

01/20/52

4,360,155‌

14,488,422

GNMA

2

.500

02/20/52

12,486,591‌

29,146,875

GNMA

3

.500

02/20/52

26,622,782‌

10,288,682

GNMA

2

.000

04/20/52

8,584,913‌

14,879,864

GNMA

2

.500

04/20/52

12,798,929‌

19,578,506

GNMA

3

.000

04/20/52

17,336,590‌

9,811,505

GNMA

2

.500

05/20/52

8,448,191‌

9,890,352

GNMA

4

.000

05/20/52

9,252,587‌

4,939,160

GNMA

3

.000

06/20/52

4,373,724‌

9,913,696

GNMA

4

.000

06/20/52

9,274,767‌

9,936,506

GNMA

3

.500

07/20/52

9,057,477‌

4,975,970

GNMA

4

.500

07/20/52

4,770,199‌

4,982,513

GNMA

3

.500

08/20/52

4,540,220‌

9,979,261

GNMA

4

.000

08/20/52

9,334,687‌

4,989,062

GNMA

4

.500

08/20/52

4,782,504‌

4,989,892

GNMA

5

.000

08/20/52

4,893,519‌

5,000,000

GNMA

3

.500

09/20/52

4,552,913‌

6,000,000

GNMA

4

.000

09/20/52

5,609,878‌

10,000,000

GNMA

4

.500

09/20/52

9,583,787‌

5,000,000

GNMA

5

.000

09/20/52

4,906,038‌

10,000,000

GNMA

5

.500

09/20/52

10,039,952‌

TOTAL

MORTGAGE

BACKED

5,198,068,681‌

MUNICIPAL

BONDS

-

0

.8

%

200,000

Alabama

Economic

Settlement

Authority

4

.263

09/15/32

188,949‌

250,000

Alabama

Federal

Aid

Highway

Finance

Authority

2

.650

09/01/37

185,667‌

300,000

American

Municipal

Power

7

.834

02/15/41

370,840‌

480,000

American

Municipal

Power

6

.270

02/15/50

511,618‌

1,165,000

American

Municipal

Power

8

.084

02/15/50

1,551,155‌

750,000

American

University

3

.672

04/01/49

586,000‌

750,000

Bay

Area

Toll

Authority

2

.574

04/01/31

644,792‌

1,000,000

Bay

Area

Toll

Authority

6

.918

04/01/40

1,158,615‌

2,000,000

Bay

Area

Toll

Authority

6

.263

04/01/49

2,282,428‌

755,000

Bay

Area

Toll

Authority

3

.126

04/01/55

511,170‌

100,000

California

Health

Facilities

Financing

Authority

4

.190

06/01/37

87,388‌

100,000

California

Health

Facilities

Financing

Authority

4

.353

06/01/41

88,711‌

200,000

California

Institute

of

Technology

4

.321

08/01/45

174,374‌

750,000

California

Institute

of

Technology

3

.650

09/01/19

468,430‌

200,000

California

State

University

3

.899

11/01/47

170,479‌

1,000,000

California

State

University

2

.897

11/01/51

688,999‌

750,000

California

State

University

2

.975

11/01/51

515,415‌

950,000

California

State

University

2

.939

11/01/52

630,437‌

720,000

Central

Puget

Sound

Regional

Transit

Authority

5

.491

11/01/39

756,637‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

163

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MUNICIPAL

BONDS—continued

$

1,665,000

Charlotte-Mecklenburg

Hospital

Authority

3

.204

%

01/15/51

$

1,179,446‌

460,000

Chicago

Metropolitan

Water

Reclamation

District-

Greater

Chicago

5

.720

12/01/38

496,326‌

2,250,000

Chicago

O'Hare

International

Airport

6

.395

01/01/40

2,540,772‌

200,000

Chicago

O'Hare

International

Airport

4

.472

01/01/49

176,322‌

200,000

Chicago

O'Hare

International

Airport

4

.572

01/01/54

176,326‌

680,000

City

of

Atlanta

GA

Water

&

Wastewater

Revenue

2

.257

11/01/35

517,320‌

690,000

City

of

Houston

TX

3

.961

03/01/47

581,701‌

140,000

City

of

Los

Angeles

Department

of

Airports

Customer

Facility

Charge

Revenue

4

.242

05/15/48

119,124‌

1,000,000

City

of

Riverside

CA

3

.857

06/01/45

833,939‌

310,000

City

of

San

Antonio

TX

Electric

&

Gas

Systems

Revenue

2

.905

02/01/48

218,380‌

310,000

City

of

San

Francisco

CA

Public

Utilities

Commission

Water

Revenue

3

.303

11/01/39

253,466‌

865,000

City

of

San

Francisco

CA

Public

Utilities

Commission

Water

Revenue

2

.825

11/01/41

649,349‌

875,000

City

of

Tucson

AZ

2

.856

07/01/47

604,133‌

750,000

City

Public

Service

Board

of

San

Antonio

TX

5

.808

02/01/41

786,101‌

150,000

Colorado

Bridge

Enterprise

6

.078

12/01/40

162,961‌

200,000

Commonwealth

Financing

Authority

4

.014

06/01/33

180,974‌

100,000

Commonwealth

Financing

Authority

3

.864

06/01/38

85,168‌

100,000

Commonwealth

Financing

Authority

4

.144

06/01/38

87,849‌

645,000

Commonwealth

Financing

Authority

3

.807

06/01/41

519,090‌

825,000

Commonwealth

Financing

Authority

2

.991

06/01/42

580,223‌

1,000,000

Commonwealth

of

Massachusetts

3

.769

07/15/29

943,000‌

1,000,000

Commonwealth

of

Massachusetts

4

.110

07/15/31

959,960‌

500,000

Commonwealth

of

Massachusetts

5

.731

06/01/40

523,183‌

1,000,000

Commonwealth

of

Massachusetts

2

.514

07/01/41

717,996‌

100,000

Commonwealth

of

Massachusetts

3

.277

06/01/46

76,575‌

750,000

Commonwealth

of

Massachusetts

2

.900

09/01/49

532,924‌

130,000

County

of

Broward

FL

Airport

System

Revenue

3

.477

10/01/43

100,335‌

200,000

County

of

Clark

NV

6

.820

07/01/45

239,031‌

135,000

County

of

Miami-Dade

FL

Aviation

Revenue

4

.280

10/01/41

117,353‌

200,000

County

of

Miami-Dade

FL

Water

&

Sewer

System

Revenue

3

.490

10/01/42

156,448‌

1,000,000

County

of

Riverside

CA

3

.818

02/15/38

856,911‌

1,485,000

Dallas

Area

Rapid

Transit

2

.613

12/01/48

972,655‌

750,000

Dallas

Area

Rapid

Transit

5

.022

12/01/48

730,812‌

255,000

Dallas

Fort

Worth

International

Airport

2

.843

11/01/46

179,197‌

235,000

Dallas

Fort

Worth

International

Airport

4

.087

11/01/51

194,636‌

445,000

Dallas

Fort

Worth

International

Airport

4

.507

11/01/51

389,350‌

250,000

Dallas/Fort

Worth

International

Airport

2

.994

11/01/38

202,441‌

235,000

Dallas/Fort

Worth

International

Airport

3

.089

11/01/40

180,131‌

100,000

Dallas/Fort

Worth

International

Airport

3

.144

11/01/45

73,332‌

210,000

Dallas/Fort

Worth

International

Airport

2

.919

11/01/50

143,558‌

350,000

Denver

City

&

County

School

District

No.

1

4

.242

12/15/37

319,895‌

200,000

District

of

Columbia

5

.591

12/01/34

207,435‌

470,000

District

of

Columbia

Water

&

Sewer

Authority

3

.207

10/01/48

345,021‌

445,000

District

of

Columbia

Water

&

Sewer

Authority

4

.814

10/01/14

391,646‌

500,000

Duke

University

2

.682

10/01/44

362,601‌

115,000

Duke

University

3

.299

10/01/46

87,078‌

500,000

Duke

University

2

.757

10/01/50

341,596‌

500,000

Duke

University

2

.832

10/01/55

327,095‌

5,000

Energy

Northwest

2

.814

07/01/24

4,898‌

360,000

Foothill-Eastern

Transportation

Corridor

Agency

4

.094

01/15/49

265,185‌

300,000

Foothill-Eastern

Transportation

Corridor

Agency

3

.924

01/15/53

217,778‌

300,000

George

Washington

University

4

.300

09/15/44

255,276‌

200,000

George

Washington

University

4

.868

09/15/45

182,502‌

375,000

George

Washington

University

4

.126

09/15/48

305,523‌

100,000

Georgetown

University

4

.315

04/01/49

81,625‌

500,000

Georgetown

University

2

.943

04/01/50

329,979‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

164

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MUNICIPAL

BONDS—continued

$

300,000

Georgetown

University

5

.215

%

10/01/18

$

254,301‌

1,000,000

Golden

State

Tobacco

Securitization

Corp

3

.487

06/01/36

800,427‌

1,500,000

Golden

State

Tobacco

Securitization

Corp

3

.115

06/01/38

1,129,752‌

430,000

Golden

State

Tobacco

Securitization

Corp

3

.714

06/01/41

327,368‌

770,000

Golden

State

Tobacco

Securitization

Corp

3

.850

06/01/50

669,265‌

1,000,000

Golden

State

Tobacco

Securitization

Corp

4

.214

06/01/50

694,089‌

970,000

Grand

Parkway

Transportation

Corp

3

.236

10/01/52

678,769‌

175,000

Great

Lakes

Water

Authority

Sewage

Disposal

System

Revenue

3

.056

07/01/39

136,191‌

330,000

Great

Lakes

Water

Authority

Water

Supply

System

Revenue

3

.473

07/01/41

266,146‌

200,000

Health

&

Educational

Facilities

Authority

of

the

State

of

Missouri

3

.651

01/15/46

160,601‌

200,000

Health

&

Educational

Facilities

Authority

of

the

State

of

Missouri

3

.086

09/15/51

138,273‌

200,000

Health

&

Educational

Facilities

Authority

of

the

State

of

Missouri

3

.652

08/15/57

151,625‌

1,500,000

Idaho

Energy

Resources

Authority

2

.861

09/01/46

1,063,274‌

500,000

Illinois

State

Toll

Highway

Authority

6

.184

01/01/34

534,852‌

385,000

Indiana

Finance

Authority

3

.051

01/01/51

287,628‌

770,000

JobsOhio

Beverage

System

2

.833

01/01/38

599,785‌

1,500,000

Kansas

Development

Finance

Authority

2

.774

05/01/51

1,004,609‌

1,000,000

Los

Angeles

Community

College

District

1

.606

08/01/28

853,597‌

1,000,000

Los

Angeles

Community

College

District

1

.806

08/01/30

813,608‌

770,000

Los

Angeles

Community

College

District

2

.106

08/01/32

603,820‌

240,000

Los

Angeles

Community

College

District

6

.750

08/01/49

296,465‌

350,000

Los

Angeles

Department

of

Water

&

Power

Power

System

Revenue

5

.716

07/01/39

363,786‌

1,500,000

Los

Angeles

Department

of

Water

&

Power

Power

System

Revenue

6

.574

07/01/45

1,754,075‌

1,630,000

Los

Angeles

Unified

School

District

5

.750

07/01/34

1,671,490‌

1,000,000

Louisiana

Local

Government

Environmental

Facilities

&

Community

Development

Auth

4

.145

02/01/33

950,155‌

1,000,000

Louisiana

Local

Government

Environmental

Facilities

&

Community

Development

Auth

4

.275

02/01/36

931,155‌

830,000

Louisiana

Local

Government

Environmental

Facilities

&

Community

Development

Auth

4

.475

08/01/39

751,265‌

1,000,000

Maryland

Health

&

Higher

Educational

Facilities

Authority

3

.052

07/01/40

710,941‌

1,000,000

Maryland

Health

&

Higher

Educational

Facilities

Authority

3

.197

07/01/50

668,448‌

1,000,000

Massachusetts

School

Building

Authority

1

.753

08/15/30

818,513‌

100,000

Massachusetts

School

Building

Authority

5

.715

08/15/39

108,823‌

500,000

Massachusetts

School

Building

Authority

3

.395

10/15/40

396,874‌

1,000,000

Massachusetts

Water

Resources

Authority

2

.823

08/01/41

761,661‌

100,000

Metropolitan

Government

of

Nashville

&

Davidson

County

Convention

Center

Authority

6

.731

07/01/43

113,825‌

200,000

Metropolitan

Government

of

Nashville

&

Davidson

County

Health

&

Educational

Facilities

4

.053

07/01/26

194,892‌

940,000

Metropolitan

Transportation

Authority

6

.648

11/15/39

992,868‌

1,150,000

Metropolitan

Transportation

Authority

7

.336

11/15/39

1,401,138‌

335,000

Metropolitan

Transportation

Authority

5

.175

11/15/49

299,130‌

350,000

Michigan

Finance

Authority

3

.384

12/01/40

279,364‌

570,000

Michigan

State

Building

Authority

2

.705

10/15/40

419,178‌

235,000

Michigan

State

University

4

.496

08/15/48

215,573‌

1,000,000

Michigan

State

University

4

.165

08/15/22

746,600‌

770,000

Michigan

Strategic

Fund

3

.225

09/01/47

550,454‌

500,000

Missouri

Highway

&

Transportation

Commission

5

.445

05/01/33

512,236‌

241,000

Municipal

Electric

Authority

of

Georgia

6

.637

04/01/57

261,710‌

480,000

Municipal

Electric

Authority

of

Georgia

6

.655

04/01/57

531,208‌

947,000

New

Jersey

Economic

Development

Authority

7

.425

02/15/29

1,014,898‌

1,335,000

New

Jersey

State

Turnpike

Authority

7

.414

01/01/40

1,636,536‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

165

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MUNICIPAL

BONDS—continued

$

1,000,000

New

Jersey

State

Turnpike

Authority

7

.102

%

01/01/41

$

1,183,642‌

800,000

New

Jersey

Transportation

Trust

Fund

Authority

5

.754

12/15/28

801,808‌

500,000

New

Jersey

Transportation

Trust

Fund

Authority

4

.081

06/15/39

417,055‌

195,000

New

Jersey

Transportation

Trust

Fund

Authority

4

.131

06/15/42

156,751‌

2,385,000

New

York

City

Municipal

Water

Finance

Authority

5

.440

06/15/43

2,482,702‌

955,000

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

5

.767

08/01/36

990,993‌

1,000,000

New

York

State

Dormitory

Authority

2

.202

03/15/34

759,750‌

130,000

New

York

State

Dormitory

Authority

5

.628

03/15/39

134,194‌

545,000

New

York

State

Dormitory

Authority

5

.600

03/15/40

568,254‌

500,000

New

York

State

Dormitory

Authority

3

.142

07/01/43

382,538‌

200,000

New

York

State

Dormitory

Authority

4

.946

08/01/48

176,526‌

500,000

New

York

State

Thruway

Authority

2

.900

01/01/35

409,685‌

110,000

New

York

State

Thruway

Authority

3

.500

01/01/42

86,471‌

1,000,000

New

York

State

Urban

Development

Corp

3

.900

03/15/33

906,410‌

2,000,000

North

Texas

Tollway

Authority

3

.011

01/01/43

1,449,891‌

1,000,000

North

Texas

Tollway

Authority

6

.718

01/01/49

1,188,973‌

675,000

Ohio

State

Water

Development

Authority

4

.879

12/01/34

680,100‌

605,000

Ohio

Turnpike

&

Infrastructure

Commission

3

.216

02/15/48

440,762‌

750,000

Oklahoma

Development

Finance

Authority

3

.877

05/01/37

717,647‌

500,000

Oklahoma

Development

Finance

Authority

4

.623

06/01/44

463,229‌

750,000

Oklahoma

Development

Finance

Authority

4

.380

11/01/45

686,716‌

250,000

Oklahoma

Development

Finance

Authority

4

.714

05/01/52

232,566‌

599,669

Oregon

School

Boards

Association

4

.759

06/30/28

591,442‌

250,000

Oregon

School

Boards

Association

5

.680

06/30/28

253,872‌

1,000,000

Oregon

State

University

3

.424

03/01/60

707,220‌

500,000

Pennsylvania

State

University

2

.790

09/01/43

354,608‌

205,000

Pennsylvania

State

University

2

.840

09/01/50

140,828‌

300,000

Permanent

University

Fund-Texas

A&M

University

System

3

.660

07/01/47

248,215‌

200,000

Permanent

University

Fund-University

of

Texas

System

3

.376

07/01/47

147,112‌

560,000

Port

Authority

of

New

York

&

New

Jersey

1

.086

07/01/23

545,990‌

1,215,000

Port

Authority

of

New

York

&

New

Jersey

6

.040

12/01/29

1,285,426‌

500,000

Port

Authority

of

New

York

&

New

Jersey

5

.647

11/01/40

520,006‌

300,000

Port

Authority

of

New

York

&

New

Jersey

4

.823

06/01/45

280,475‌

1,000,000

Port

Authority

of

New

York

&

New

Jersey

5

.310

08/01/46

992,941‌

200,000

Port

Authority

of

New

York

&

New

Jersey

4

.031

09/01/48

165,393‌

900,000

Port

Authority

of

New

York

&

New

Jersey

3

.139

02/15/51

638,602‌

400,000

Port

Authority

of

New

York

&

New

Jersey

4

.229

10/15/57

340,274‌

1,600,000

Port

Authority

of

New

York

&

New

Jersey

3

.175

07/15/60

1,049,519‌

2,200,000

Port

Authority

of

New

York

&

New

Jersey

4

.810

10/15/65

2,058,534‌

250,000

Port

Authority

of

New

York

&

New

Jersey

3

.287

08/01/69

164,843‌

1,000,000

Port

of

Morrow

OR

2

.543

09/01/40

717,015‌

220,000

Princeton

University

5

.700

03/01/39

237,161‌

1,000,000

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

4

.132

05/15/32

913,512‌

750,000

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

3

.006

05/15/50

499,867‌

1,500,000

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

4

.563

05/15/53

1,326,103‌

750,000

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

3

.256

05/15/60

492,676‌

750,000

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

3

.706

05/15/20

483,061‌

500,000

Rutgers

The

State

University

of

New

Jersey

3

.270

05/01/43

393,642‌

500,000

Rutgers

The

State

University

of

New

Jersey

3

.915

05/01/19

352,413‌

195,000

Sales

Tax

Securitization

Corp

4

.637

01/01/40

179,457‌

1,125,000

Sales

Tax

Securitization

Corp

3

.238

01/01/42

854,287‌

200,000

Sales

Tax

Securitization

Corp

3

.587

01/01/43

163,203‌

1,000,000

Sales

Tax

Securitization

Corp

3

.820

01/01/48

803,213‌

200,000

Sales

Tax

Securitization

Corp

4

.787

01/01/48

186,112‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

166

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MUNICIPAL

BONDS—continued

$

100,000

Salt

River

Project

Agricultural

Improvement

&

Power

District

4

.839

%

01/01/41

$

98,965‌

435,000

San

Diego

County

Regional

Transportation

Commission

3

.248

04/01/48

330,140‌

500,000

San

Diego

County

Water

Authority

6

.138

05/01/49

564,691‌

1,000,000

San

Joaquin

Hills

Transportation

Corridor

Agency

3

.492

01/15/50

738,876‌

100,000

San

Jose

Redevelopment

Agency

3

.375

08/01/34

87,206‌

800,000

Santa

Clara

Valley

Transportation

Authority

5

.876

04/01/32

831,821‌

270,000

South

Carolina

Public

Service

Authority

2

.388

12/01/23

264,217‌

750,000

State

Board

of

Administration

Finance

Corp

1

.258

07/01/25

679,368‌

750,000

State

Board

of

Administration

Finance

Corp

1

.705

07/01/27

641,955‌

400,000

State

Board

of

Administration

Finance

Corp

2

.154

07/01/30

321,584‌

200,000

State

of

California

3

.375

04/01/25

194,568‌

200,000

State

of

California

3

.500

04/01/28

189,222‌

300,000

State

of

California

4

.500

04/01/33

289,313‌

250,000

State

of

California

7

.500

04/01/34

298,069‌

225,000

State

of

California

4

.600

04/01/38

210,673‌

1,285,000

State

of

California

7

.550

04/01/39

1,603,461‌

3,400,000

State

of

California

7

.300

10/01/39

4,077,073‌

2,740,000

State

of

California

7

.625

03/01/40

3,405,706‌

1,500,000

State

of

California

7

.600

11/01/40

1,890,067‌

620,000

State

of

Connecticut

5

.850

03/15/32

653,456‌

5,950,000

State

of

Illinois

5

.100

06/01/33

5,674,255‌

1,295,000

State

of

Illinois

6

.725

04/01/35

1,333,812‌

500,000

State

of

Kansas

Department

of

Transportation

4

.596

09/01/35

486,349‌

2,000,000

State

of

Louisiana

Gasoline

&

Fuels

Tax

Revenue

2

.952

05/01/41

1,491,330‌

59,870

State

of

Oregon

5

.762

06/01/23

60,429‌

85,000

State

of

Oregon

5

.892

06/01/27

87,984‌

100,000

State

of

Oregon

Department

of

Transportation

5

.834

11/15/34

107,737‌

600,000

State

of

Texas

4

.631

04/01/33

601,715‌

50,000

State

of

Texas

5

.517

04/01/39

52,509‌

1,000,000

State

of

Texas

4

.681

04/01/40

965,007‌

367,033

State

of

Utah

3

.539

07/01/25

360,382‌

200,000

State

of

Washington

5

.090

08/01/33

202,639‌

200,000

State

of

Wisconsin

3

.154

05/01/27

188,026‌

200,000

State

of

Wisconsin

3

.954

05/01/36

179,106‌

604,000

State

Public

School

Building

Authority

5

.000

09/15/27

605,870‌

100,000

Sumter

Landing

Community

Development

District

4

.172

10/01/47

85,161‌

430,000

Texas

Private

Activity

Bond

Surface

Transportation

Corp

3

.922

12/31/49

326,904‌

1,000,000

Texas

Transportation

Commission

2

.562

04/01/42

713,536‌

1,000,000

Texas

Transportation

Commission

2

.472

10/01/44

656,246‌

575,000

Texas

Transportation

Commission

State

Highway

Fund

5

.028

04/01/26

578,269‌

1,190,000

Texas

Transportation

Commission

State

Highway

Fund

5

.178

04/01/30

1,206,101‌

560,000

Texas

Transportation

Commission

State

Highway

Fund

4

.000

10/01/33

513,663‌

100,000

The

Ohio

State

University

4

.910

06/01/40

100,235‌

500,000

The

Ohio

State

University

3

.798

12/01/46

415,929‌

200,000

The

Ohio

State

University

4

.048

12/01/56

167,644‌

1,000,000

Trustees

of

the

University

of

Pennsylvania

2

.396

10/01/50

631,116‌

100,000

Trustees

of

the

University

of

Pennsylvania

4

.674

09/01/12

81,690‌

500,000

Trustees

of

the

University

of

Pennsylvania

3

.610

02/15/19

322,788‌

1,000,000

University

of

California

0

.883

05/15/25

910,825‌

200,000

University

of

California

3

.063

07/01/25

192,136‌

1,000,000

University

of

California

1

.316

05/15/27

860,046‌

500,000

University

of

California

3

.349

07/01/29

451,570‌

1,000,000

University

of

California

1

.614

05/15/30

786,768‌

200,000

University

of

California

5

.770

05/15/43

209,349‌

200,000

University

of

California

3

.931

05/15/45

173,018‌

200,000

University

of

California

4

.131

05/15/45

175,640‌

1,500,000

University

of

California

5

.946

05/15/45

1,597,167‌

1,500,000

University

of

California

3

.071

05/15/51

1,003,449‌

860,000

University

of

California

4

.858

05/15/12

739,436‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

167

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MUNICIPAL

BONDS—continued

$

200,000

University

of

California

4

.767

%

05/15/15

$

167,550‌

500,000

University

of

Chicago

2

.761

04/01/45

374,834‌

300,000

University

of

Chicago

4

.003

10/01/53

249,606‌

750,000

University

of

Michigan

2

.437

04/01/40

532,442‌

1,000,000

University

of

Michigan

3

.599

04/01/47

832,636‌

500,000

University

of

Michigan

2

.562

04/01/50

318,284‌

500,000

University

of

Michigan

3

.504

04/01/52

384,457‌

750,000

University

of

Michigan

3

.504

04/01/52

576,686‌

750,000

University

of

Michigan

4

.454

04/01/22

600,798‌

1,500,000

University

of

Minnesota

4

.048

04/01/52

1,311,744‌

500,000

University

of

Nebraska

Facilities

Corp

3

.037

10/01/49

359,441‌

200,000

University

of

Notre

Dame

du

Lac

3

.438

02/15/45

157,376‌

200,000

University

of

Notre

Dame

du

Lac

3

.394

02/15/48

155,046‌

300,000

University

of

Southern

California

3

.028

10/01/39

231,117‌

200,000

University

of

Southern

California

3

.841

10/01/47

167,414‌

500,000

University

of

Southern

California

2

.805

10/01/50

342,861‌

200,000

University

of

Southern

California

5

.250

10/01/11

189,361‌

200,000

University

of

Texas

System

3

.852

08/15/46

167,873‌

700,000

University

of

Texas

System

4

.794

08/15/46

681,777‌

750,000

University

of

Texas

System

2

.439

08/15/49

464,534‌

1,000,000

University

of

Virginia

2

.256

09/01/50

598,033‌

1,600,000

University

of

Virginia

2

.584

11/01/51

1,013,308‌

500,000

University

of

Virginia

3

.227

09/01/19

302,994‌

150,000

Virginia

Commonwealth

Transportation

Board

5

.350

05/15/35

153,611‌

750,000

Westchester

County

Local

Development

Corp

3

.846

11/01/50

542,619‌

200,000

William

Marsh

Rice

University

3

.574

05/15/45

164,298‌

200,000

William

Marsh

Rice

University

3

.774

05/15/55

163,335‌

TOTAL

MUNICIPAL

BONDS

152,431,263‌

U.S.

TREASURY

SECURITIES

-

39

.8

%

21,250,000

United

States

Treasury

Bond

4

.500

02/15/36

22,979,053‌

22,400,000

United

States

Treasury

Bond

5

.000

05/15/37

25,409,125‌

179,483,000

United

States

Treasury

Bond

3

.500

02/15/39

170,880,435‌

2,000,000

United

States

Treasury

Bond

4

.500

08/15/39

2,147,266‌

44,850,000

United

States

Treasury

Bond

4

.375

11/15/39

47,360,549‌

17,585,000

United

States

Treasury

Bond

3

.875

08/15/40

17,278,636‌

11,185,000

United

States

Treasury

Bond

4

.250

11/15/40

11,543,706‌

26,350,000

United

States

Treasury

Bond

4

.375

05/15/41

27,598,537‌

10,000,000

United

States

Treasury

Bond

3

.750

08/15/41

9,583,203‌

48,300,000

United

States

Treasury

Bond

3

.125

11/15/41

42,015,340‌

18,550,000

United

States

Treasury

Bond

3

.125

02/15/42

16,158,789‌

22,000,000

United

States

Treasury

Bond

3

.000

05/15/42

18,713,750‌

20,000,000

United

States

Treasury

Bond

2

.750

08/15/42

16,246,875‌

10,250,000

United

States

Treasury

Bond

2

.875

05/15/43

8,447,842‌

16,000,000

United

States

Treasury

Bond

2

.500

02/15/45

12,198,125‌

22,000,000

United

States

Treasury

Bond

3

.000

05/15/45

18,364,844‌

16,000,000

United

States

Treasury

Bond

2

.875

08/15/45

13,055,000‌

27,000,000

United

States

Treasury

Bond

2

.500

05/15/46

20,466,211‌

13,300,000

United

States

Treasury

Bond

2

.875

11/15/46

10,861,320‌

28,000,000

United

States

Treasury

Bond

3

.000

02/15/47

23,409,531‌

30,000,000

United

States

Treasury

Bond

2

.750

08/15/47

23,969,531‌

45,000,000

United

States

Treasury

Bond

2

.750

11/15/47

35,996,485‌

38,500,000

United

States

Treasury

Bond

3

.000

02/15/48

32,412,187‌

48,500,000

United

States

Treasury

Bond

3

.125

05/15/48

41,937,344‌

35,500,000

United

States

Treasury

Bond

3

.000

08/15/48

30,025,234‌

35,000,000

United

States

Treasury

Bond

3

.375

11/15/48

31,859,570‌

82,500,000

United

States

Treasury

Bond

3

.000

02/15/49

70,382,812‌

10,500,000

United

States

Treasury

Bond

2

.875

05/15/49

8,751,094‌

7,500,000

United

States

Treasury

Bond

2

.250

08/15/49

5,483,496‌

8,615,000

United

States

Treasury

Bond

2

.375

11/15/49

6,487,499‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

168

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

U.S.

TREASURY

SECURITIES—continued

$

40,000,000

United

States

Treasury

Note

0

.125

%

10/15/23

$

38,315,625‌

13,000,000

United

States

Treasury

Note

2

.750

11/15/23

12,775,039‌

10,000,000

United

States

Treasury

Note

2

.125

11/30/23

9,757,813‌

65,000,000

United

States

Treasury

Note

2

.875

11/30/23

63,931,055‌

1,800,000

United

States

Treasury

Note

0

.750

12/31/23

1,723,148‌

99,300,000

United

States

Treasury

Note

2

.500

01/31/24

96,945,504‌

70,000,000

United

States

Treasury

Note

2

.375

02/29/24

68,151,563‌

15,000,000

United

States

Treasury

Note

0

.250

03/15/24

14,145,117‌

325,000,000

United

States

Treasury

Note

2

.125

03/31/24

314,678,712‌

174,000,000

United

States

Treasury

Note

2

.250

04/30/24

168,467,343‌

30,000,000

United

States

Treasury

Note

0

.250

05/15/24

28,103,906‌

111,500,000

United

States

Treasury

Note

2

.000

05/31/24

107,384,082‌

152,000,000

United

States

Treasury

Note

1

.750

06/30/24

145,528,126‌

212,000,000

United

States

Treasury

Note

1

.750

07/31/24

202,617,344‌

20,000,000

United

States

Treasury

Note

0

.375

08/15/24

18,605,469‌

22,000,000

United

States

Treasury

Note

1

.250

08/31/24

20,793,438‌

82,000,000

e

United

States

Treasury

Note

3

.250

08/31/24

80,520,156‌

81,000,000

United

States

Treasury

Note

1

.500

09/30/24

76,788,633‌

90,500,000

United

States

Treasury

Note

1

.500

10/31/24

85,579,063‌

40,005,000

United

States

Treasury

Note

2

.250

11/15/24

38,373,546‌

61,900,000

United

States

Treasury

Note

1

.500

11/30/24

58,396,363‌

75,000,000

United

States

Treasury

Note

1

.750

12/31/24

71,062,500‌

40,000,000

United

States

Treasury

Note

2

.250

12/31/24

38,301,562‌

13,000,000

United

States

Treasury

Note

1

.375

01/31/25

12,176,328‌

40,000,000

United

States

Treasury

Note

1

.125

02/28/25

37,146,875‌

73,000,000

United

States

Treasury

Note

0

.500

03/31/25

66,598,242‌

8,000,000

United

States

Treasury

Note

2

.625

03/31/25

7,691,875‌

50,000,000

United

States

Treasury

Note

0

.375

04/30/25

45,291,016‌

119,000,000

United

States

Treasury

Note

0

.250

06/30/25

106,807,148‌

100,000,000

United

States

Treasury

Note

0

.250

07/31/25

89,382,812‌

54,000,000

United

States

Treasury

Note

0

.250

08/31/25

48,104,297‌

20,000,000

United

States

Treasury

Note

2

.750

08/31/25

19,177,344‌

50,000,000

United

States

Treasury

Note

0

.250

09/30/25

44,437,500‌

30,000,000

United

States

Treasury

Note

3

.000

09/30/25

28,953,516‌

97,000,000

United

States

Treasury

Note

0

.250

10/31/25

85,901,836‌

30,000,000

United

States

Treasury

Note

2

.250

11/15/25

28,250,391‌

265,000,000

United

States

Treasury

Note

0

.375

11/30/25

234,949,413‌

50,000,000

United

States

Treasury

Note

0

.375

12/31/25

44,212,891‌

126,000,000

United

States

Treasury

Note

0

.375

01/31/26

110,988,282‌

137,000,000

United

States

Treasury

Note

0

.500

02/28/26

120,886,445‌

90,000,000

United

States

Treasury

Note

0

.750

03/31/26

79,913,672‌

50,000,000

United

States

Treasury

Note

2

.250

03/31/26

46,841,797‌

120,000,000

United

States

Treasury

Note

0

.750

04/30/26

106,260,937‌

30,000,000

United

States

Treasury

Note

1

.625

05/15/26

27,420,703‌

165,000,000

United

States

Treasury

Note

0

.750

05/31/26

145,715,625‌

135,000,000

United

States

Treasury

Note

0

.875

06/30/26

119,517,187‌

85,000,000

United

States

Treasury

Note

0

.625

07/31/26

74,338,476‌

115,000,000

United

States

Treasury

Note

0

.750

08/31/26

100,854,102‌

60,000,000

United

States

Treasury

Note

0

.875

09/30/26

52,783,594‌

71,000,000

United

States

Treasury

Note

1

.625

09/30/26

64,460,234‌

170,000,000

United

States

Treasury

Note

1

.125

10/31/26

150,722,265‌

10,000,000

United

States

Treasury

Note

1

.625

10/31/26

9,058,203‌

115,000,000

United

States

Treasury

Note

1

.250

11/30/26

102,336,523‌

81,000,000

United

States

Treasury

Note

1

.250

12/31/26

71,947,617‌

89,500,000

United

States

Treasury

Note

1

.750

12/31/26

81,287,676‌

72,000,000

United

States

Treasury

Note

1

.500

01/31/27

64,541,250‌

87,000,000

United

States

Treasury

Note

1

.875

02/28/27

79,231,171‌

97,000,000

United

States

Treasury

Note

2

.500

03/31/27

90,611,640‌

11,000,000

United

States

Treasury

Note

2

.875

04/30/27

10,380,820‌

40,000,000

United

States

Treasury

Note

2

.625

05/31/27

37,550,000‌

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

169

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

U.S.

TREASURY

SECURITIES—continued

$

5,000,000

United

States

Treasury

Note

0

.500

%

06/30/27

$

4,233,008‌

96,000,000

United

States

Treasury

Note

3

.250

06/30/27

92,520,000‌

111,000,000

United

States

Treasury

Note

2

.750

07/31/27

104,522,109‌

46,000,000

United

States

Treasury

Note

2

.250

08/15/27

42,284,063‌

90,000,000

United

States

Treasury

Note

3

.125

08/31/27

86,329,688‌

45,000,000

United

States

Treasury

Note

4

.125

09/30/27

45,147,656‌

75,000,000

United

States

Treasury

Note

0

.625

11/30/27

63,043,945‌

48,800,000

United

States

Treasury

Note

2

.750

02/15/28

45,698,531‌

66,000,000

United

States

Treasury

Note

2

.875

05/15/28

62,029,688‌

20,000,000

United

States

Treasury

Note

1

.250

06/30/28

17,140,625‌

50,000,000

United

States

Treasury

Note

1

.125

08/31/28

42,330,078‌

10,000,000

United

States

Treasury

Note

1

.375

10/31/28

8,566,406‌

85,000,000

United

States

Treasury

Note

3

.125

11/15/28

80,766,601‌

70,000,000

United

States

Treasury

Note

1

.500

11/30/28

60,333,984‌

50,000,000

United

States

Treasury

Note

1

.750

01/31/29

43,662,110‌

50,000,000

United

States

Treasury

Note

2

.625

02/15/29

46,072,266‌

50,000,000

United

States

Treasury

Note

2

.375

03/31/29

45,273,438‌

30,000,000

United

States

Treasury

Note

2

.875

04/30/29

28,005,469‌

92,000,000

United

States

Treasury

Note

2

.375

05/15/29

83,252,813‌

50,000,000

United

States

Treasury

Note

2

.750

05/31/29

46,302,735‌

22,000,000

United

States

Treasury

Note

1

.625

08/15/29

18,972,422‌

117,000,000

United

States

Treasury

Note

1

.500

02/15/30

99,294,610‌

50,000,000

United

States

Treasury

Note

0

.625

05/15/30

39,386,719‌

37,000,000

United

States

Treasury

Note

0

.625

08/15/30

28,991,524‌

64,000,000

United

States

Treasury

Note

0

.875

11/15/30

50,985,000‌

30,000,000

United

States

Treasury

Note

1

.125

02/15/31

24,291,797‌

121,000,000

United

States

Treasury

Note

1

.625

05/15/31

101,564,375‌

39,000,000

United

States

Treasury

Note

1

.250

08/15/31

31,518,398‌

18,200,000

United

States

Treasury

Note

1

.375

11/15/31

14,787,500‌

48,500,000

United

States

Treasury

Note

1

.875

02/15/32

41,096,172‌

66,000,000

United

States

Treasury

Note

2

.875

05/15/32

61,019,062‌

58,000,000

United

States

Treasury

Note

2

.750

08/15/32

53,033,750‌

57,000,000

United

States

Treasury

Note

1

.125

05/15/40

35,618,320‌

32,500,000

United

States

Treasury

Note

1

.125

08/15/40

20,132,226‌

127,500,000

United

States

Treasury

Note

1

.375

11/15/40

82,421,777‌

76,500,000

United

States

Treasury

Note

1

.875

02/15/41

54,186,504‌

76,000,000

United

States

Treasury

Note

2

.250

05/15/41

57,454,219‌

70,000,000

United

States

Treasury

Note

1

.750

08/15/41

47,859,766‌

21,150,000

United

States

Treasury

Note

2

.000

11/15/41

15,137,121‌

19,500,000

United

States

Treasury

Note

2

.375

02/15/42

14,941,875‌

27,500,000

United

States

Treasury

Note

3

.250

05/15/42

24,406,250‌

11,500,000

e

United

States

Treasury

Note

3

.375

08/15/42

10,416,484‌

35,850,000

United

States

Treasury

Note

1

.250

05/15/50

20,064,797‌

28,000,000

United

States

Treasury

Note

1

.375

08/15/50

16,212,656‌

68,500,000

United

States

Treasury

Note

1

.625

11/15/50

42,528,868‌

50,000,000

United

States

Treasury

Note

1

.875

02/15/51

33,101,562‌

52,500,000

United

States

Treasury

Note

2

.375

05/15/51

39,276,562‌

44,575,000

United

States

Treasury

Note

2

.000

08/15/51

30,446,815‌

47,500,000

United

States

Treasury

Note

1

.875

11/15/51

31,411,230‌

45,000,000

United

States

Treasury

Note

2

.250

02/15/52

32,695,312‌

29,000,000

United

States

Treasury

Note

2

.875

05/15/52

24,319,219‌

40,000,000

United

States

Treasury

Note

3

.000

08/15/52

34,518,750‌

TOTAL

U.S.

TREASURY

SECURITIES

7,509,305,054‌

TOTAL

GOVERNMENT

BONDS

13,709,134,316‌

(Cost

$15,743,831,536)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

170

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

STRUCTURED

ASSETS

-

2

.5

%

ASSET

BACKED

-

0

.6

%

$

138,419

American

Airlines

Pass

Through

Trust

3

.600

%

09/22/27

$

124,053‌

Series

-

2015

2

(Class

AA)

142,876

American

Airlines

Pass

Through

Trust

3

.575

01/15/28

127,560‌

Series

-

2016

1

(Class

AA)

426,650

American

Airlines

Pass

Through

Trust

3

.200

06/15/28

370,994‌

Series

-

2016

2

(Class

AA)

616,100

American

Airlines

Pass

Through

Trust

3

.000

10/15/28

531,872‌

Series

-

2016

3

(Class

AA)

220,125

American

Airlines

Pass

Through

Trust

3

.650

02/15/29

194,288‌

Series

-

2017

1

(Class

AA)

648,322

American

Airlines

Pass

Through

Trust

3

.150

02/15/32

540,656‌

Series

-

2019

1

(Class

AA)

1,600,000

American

Express

Credit

Account

Master

Trust

0

.900

11/15/26

1,478,152‌

Series

-

2021

1

(Class

A)

3,000,000

American

Express

Credit

Account

Master

Trust

3

.750

08/15/27

2,922,383‌

Series

-

2022

3

(Class

A)

27,649

AmeriCredit

Automobile

Receivables

Trust

1

.110

08/19/24

27,613‌

Series

-

2020

1

(Class

A3)

500,000

AmeriCredit

Automobile

Receivables

Trust

1

.480

01/21/25

496,380‌

Series

-

2020

1

(Class

B)

500,000

AmeriCredit

Automobile

Receivables

Trust

1

.060

08/18/26

470,279‌

Series

-

2020

3

(Class

C)

1,500,000

AmeriCredit

Automobile

Receivables

Trust

0

.680

10/19/26

1,428,846‌

Series

-

2021

1

(Class

B)

1,000,000

AmeriCredit

Automobile

Receivables

Trust

0

.890

10/19/26

924,875‌

Series

-

2021

1

(Class

C)

500,000

AmeriCredit

Automobile

Receivables

Trust

0

.690

01/19/27

469,413‌

Series

-

2021

2

(Class

B)

500,000

AmeriCredit

Automobile

Receivables

Trust

1

.010

01/19/27

455,910‌

Series

-

2021

2

(Class

C)

2,500,000

BA

Credit

Card

Trust

0

.340

05/15/26

2,379,151‌

Series

-

2020

A1

(Class

A1)

960,000

BA

Credit

Card

Trust

0

.440

09/15/26

901,894‌

Series

-

2021

A1

(Class

A1)

2,450,000

Barclays

Dryrock

Issuance

Trust

0

.630

07/15/27

2,262,913‌

Series

-

2021

1

(Class

A)

1,000,000

BMW

Vehicle

Lease

Trust

0

.430

01/27/25

947,237‌

Series

-

2021

2

(Class

A4)

10,000,000

Cantor

Commercial

Real

Estate

Lending

3

.523

05/15/52

9,059,177‌

Series

-

2019

CF1

(Class

A4)

6,000,000

Cantor

Commercial

Real

Estate

Lending

3

.623

05/15/52

5,828,275‌

Series

-

2019

CF1

(Class

A2)

2,000,000

Capital

One

MExecution

Trust

1

.040

11/15/26

1,853,725‌

Series

-

2021

A3

(Class

A3)

3,000,000

Capital

One

MExecution

Trust

3

.490

05/15/27

2,908,648‌

Series

-

2022

A2

(Class

A)

2,500,000

Capital

One

Multi-Asset

Execution

Trust

2

.060

08/15/28

2,255,087‌

Series

-

2019

A3

(Class

A3)

1,000,000

CarMax

Auto

Owner

Trust

2

.770

12/16/24

991,518‌

Series

-

2019

2

(Class

A4)

413,451

CarMax

Auto

Owner

Trust

0

.500

08/15/25

403,137‌

Series

-

2020

4

(Class

A3)

2,000,000

CarMax

Auto

Owner

Trust

0

.520

02/17/26

1,933,355‌

Series

-

2021

2

(Class

A3)

500,000

CarMax

Auto

Owner

Trust

0

.530

10/15/26

461,432‌

Series

-

2021

1

(Class

A4)

900,000

CarMax

Auto

Owner

Trust

0

.740

10/15/26

807,099‌

Series

-

2021

1

(Class

B)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

171

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

1,000,000

CarMax

Auto

Owner

Trust

1

.470

%

12/15/26

$

956,425‌

Series

-

2022

1

(Class

A3)

700,000

CarMax

Auto

Owner

Trust

2

.200

11/15/27

633,244‌

Series

-

2022

1

(Class

C)

500,000

Carvana

Auto

Receivables

Trust

3

.000

02/10/28

449,274‌

Series

-

2022

P1

(Class

B)

1,000,000

Carvana

Auto

Receivables

Trust

3

.520

02/10/28

930,391‌

Series

-

2022

P1

(Class

A4)

500,000

Carvana

Auto

Receivables

Trust

3

.300

04/10/28

451,002‌

Series

-

2022

P1

(Class

C)

1,000,000

Chase

Issuance

Trust

3

.970

09/15/27

981,863‌

Series

-

2022

A1

(Class

A)

400,000

CNH

Equipment

Trust

0

.440

08/17/26

380,091‌

Series

-

2021

B

(Class

A3)

1,000,000

CNH

Equipment

Trust

0

.700

05/17/27

901,087‌

Series

-

2021

B

(Class

A4)

115,255

Continental

Airlines

Pass

Through

Trust

4

.000

10/29/24

108,849‌

Series

-

2012

2

(Class

A)

86,911

Delta

Air

Lines

Pass

Through

Trust

3

.625

07/30/27

78,294‌

Series

-

2015

1

(Class

AA)

264,124

Delta

Air

Lines

Pass

Through

Trust

2

.000

06/10/28

224,019‌

Series

-

2020

1

(Class

AA)

1,500,000

Discover

Card

Execution

Note

Trust

0

.580

09/15/26

1,388,012‌

Series

-

2021

A1

(Class

A1)

1,000,000

Discover

Card

Execution

Note

Trust

3

.560

07/15/27

971,671‌

Series

-

2022

A3

(Class

A3)

1,500,000

Discover

Card

Execution

Note

Trust

1

.030

09/15/28

1,306,325‌

Series

-

2021

A2

(Class

A2)

1,000,000

Drive

Auto

Receivables

Trust

1

.020

06/15/27

968,332‌

Series

-

2021

1

(Class

C)

1,500,000

Exeter

Automobile

Receivables

Trust

3

.020

06/15/28

1,354,670‌

Series

-

2022

1A

(Class

D)

893,055

FedEx

Corp

2020-

Class

AA

Pass

Through

Trust

1

.875

02/20/34

734,213‌

311,371

FHLMC

Multifamily

Structured

Pass

Through

Certificates

2

.510

11/25/22

310,684‌

Series

-

2013

K026

(Class

A2)

409,183

FHLMC

Multifamily

Structured

Pass

Through

Certificates

2

.637

01/25/23

407,835‌

Series

-

2013

K027

(Class

A2)

1,081

FHLMC

Multifamily

Structured

Pass

Through

Certificates

2

.669

02/25/23

1,079‌

Series

-

2013

K034

(Class

A1)

3,000,000

i

FHLMC

Multifamily

Structured

Pass

Through

Certificates

3

.060

07/25/23

2,968,972‌

Series

-

2013

K033

(Class

A2)

1,750,000

i

FHLMC

Multifamily

Structured

Pass

Through

Certificates

3

.531

07/25/23

1,736,468‌

Series

-

2013

K034

(Class

A2)

1,500,000

i

FHLMC

Multifamily

Structured

Pass

Through

Certificates

3

.527

10/25/23

1,485,806‌

Series

-

2014

K036

(Class

A2)

2,751,756

FHLMC

Multifamily

Structured

Pass

Through

Certificates

3

.023

01/25/25

2,656,361‌

Series

-

2015

K045

(Class

A2)

1,224,000

FHLMC

Multifamily

Structured

Pass

Through

Certificates

1

.760

03/25/28

1,060,359‌

Series

-

2021

K742

(Class

A2)

749,000

FHLMC

Multifamily

Structured

Pass

Through

Certificates

1

.369

04/25/28

624,181‌

Series

-

2021

K742

(Class

AM)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

172

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

500,000

Ford

Credit

Auto

Lease

Trust

1

.000

%

11/15/23

$

498,921‌

Series

-

2020

B

(Class

B)

1,500,000

Ford

Credit

Auto

Lease

Trust

0

.300

04/15/24

1,478,191‌

Series

-

2021

A

(Class

A4)

600,000

Ford

Credit

Auto

Lease

Trust

0

.470

05/15/24

585,213‌

Series

-

2021

A

(Class

B)

500,000

Ford

Credit

Auto

Owner

Trust

0

.510

08/15/26

464,092‌

Series

-

2020

C

(Class

A4)

2,000,000

Ford

Credit

Auto

Owner

Trust

0

.490

09/15/26

1,842,205‌

Series

-

2021

A

(Class

A4)

1,000,000

Ford

Credit

Auto

Owner

Trust

1

.560

05/15/27

911,001‌

Series

-

2022

A

(Class

A4)

1,000,000

Ford

Credit

Auto

Owner

Trust

1

.910

07/15/27

910,238‌

Series

-

2022

A

(Class

B)

850,000

Ford

Credit

Floorplan

Master

Owner

Trust

2

.440

09/15/26

810,782‌

Series

-

2019

4

(Class

A)

1,000,000

GM

Financial

Automobile

Leasing

Trust

4

.110

08/20/26

981,290‌

Series

-

2022

3

(Class

A4)

863,415

GM

Financial

Consumer

Automobile

Receivables

Trust

2

.710

08/16/24

862,157‌

Series

-

2019

2

(Class

A4)

197,990

GM

Financial

Consumer

Automobile

Receivables

Trust

1

.490

12/16/24

195,903‌

Series

-

2020

2

(Class

A3)

372,785

GM

Financial

Consumer

Automobile

Receivables

Trust

0

.380

08/18/25

363,474‌

Series

-

2020

4

(Class

A3)

626,822

GM

Financial

Consumer

Automobile

Receivables

Trust

0

.350

10/16/25

608,827‌

Series

-

2021

1

(Class

A3)

500,000

GM

Financial

Consumer

Automobile

Receivables

Trust

0

.500

02/17/26

466,246‌

Series

-

2020

4

(Class

A4)

1,000,000

GM

Financial

Consumer

Automobile

Receivables

Trust

0

.510

04/16/26

959,975‌

Series

-

2021

2

(Class

A3)

680,000

GM

Financial

Consumer

Automobile

Receivables

Trust

1

.260

11/16/26

646,717‌

Series

-

2022

1

(Class

A3)

1,000,000

GM

Financial

Leasing

Trust

1

.010

07/21/25

962,484‌

Series

-

2021

1

(Class

D)

850,000

GM

Financial

Securitized

Term

1

.510

04/17/28

778,441‌

Series

-

2022

1

(Class

A4)

1,000,000

Harley-Davidson

Motorcycle

Trust

3

.060

02/15/27

968,256‌

Series

-

2022

A

(Class

A3)

1,000,000

Harley-Davidson

Motorcycle

Trust

3

.260

01/15/30

952,058‌

Series

-

2022

A

(Class

A4)

1,000,000

Honda

Auto

Receivables

Owner

Trust

1

.880

05/15/26

950,013‌

Series

-

2022

1

(Class

A3)

1,000,000

Honda

Auto

Receivables

Owner

Trust

0

.550

08/16/27

926,165‌

Series

-

2021

2

(Class

A4)

1,000,000

Honda

Auto

Receivables

Owner

Trust

0

.420

01/21/28

932,990‌

Series

-

2021

1

(Class

A4)

500,000

Hyundai

Auto

Receivables

Trust

0

.380

09/15/25

483,282‌

Series

-

2021

A

(Class

A3)

2,000,000

Hyundai

Auto

Receivables

Trust

3

.030

11/17/25

1,977,471‌

Series

-

2019

A

(Class

C)

1,000,000

Hyundai

Auto

Receivables

Trust

0

.620

05/17/27

922,898‌

Series

-

2021

A

(Class

A4)

445,132

JetBlue

Pass

Through

Trust

2

.750

05/15/32

364,996‌

Series

-

2019

1

(Class

AA)

901,845

JetBlue

Pass

Through

Trust

4

.000

11/15/32

801,654‌

800,000

John

Deere

Owner

Trust

0

.520

03/16/26

755,803‌

Series

-

2021

B

(Class

A3)

500,000

John

Deere

Owner

Trust

0

.740

05/15/28

448,255‌

Series

-

2021

B

(Class

A4)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

173

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

250,000

Mercedes-Benz

Auto

Lease

Trust

0

.500

%

06/15/26

$

246,117‌

Series

-

2020

B

(Class

A4)

1,000,000

Mercedes-Benz

Auto

Lease

Trust

0

.320

10/15/26

968,282‌

Series

-

2021

A

(Class

A4)

92,654

Nissan

Auto

Receivables

Owner

Trust

2

.500

11/15/23

92,618‌

Series

-

2019

B

(Class

A3)

1,000,000

Nissan

Auto

Receivables

Owner

Trust

1

.860

08/17/26

950,672‌

Series

-

2022

A

(Class

A3)

245,608

Santander

Drive

Auto

Receivables

Trust

0

.500

04/15/25

245,178‌

Series

-

2021

1

(Class

B)

231,895

Santander

Drive

Auto

Receivables

Trust

1

.010

01/15/26

229,207‌

Series

-

2020

4

(Class

C)

500,000

Santander

Drive

Auto

Receivables

Trust

0

.750

02/17/26

491,877‌

Series

-

2021

1

(Class

C)

1,000,000

Santander

Drive

Auto

Receivables

Trust

4

.430

03/15/27

978,283‌

Series

-

2022

5

(Class

B)

1,500,000

Santander

Drive

Auto

Receivables

Trust

1

.350

07/15/27

1,413,478‌

Series

-

2021

2

(Class

D)

63,566

Spirit

Airlines

Pass

Through

Trust

4

.100

04/01/28

54,973‌

Series

-

2015

1A

(Class

A1)

500,000

Toyota

Auto

Receivables

Owner

Trust

0

.470

01/15/26

472,089‌

Series

-

2020

D

(Class

A4)

500,000

Toyota

Auto

Receivables

Owner

Trust

2

.930

09/15/26

484,672‌

Series

-

2022

B

(Class

A3)

1,500,000

Toyota

Auto

Receivables

Owner

Trust

0

.530

10/15/26

1,364,059‌

Series

-

2021

B

(Class

A4)

500,000

Toyota

Auto

Receivables

Owner

Trust

3

.110

08/16/27

474,255‌

Series

-

2022

B

(Class

A4)

151,931

Union

Pacific

Railroad

Co

Pass

Through

Trust

2

.695

05/12/27

138,462‌

Series

-

2015

1

(Class

A)

278,516

United

Airlines

Pass

Through

Trust

4

.150

04/11/24

263,547‌

Series

-

2012

1

(Class

A)

180,932

United

Airlines

Pass

Through

Trust

4

.300

08/15/25

169,438‌

Series

-

2013

1

(Class

A)

199,000

United

Airlines

Pass

Through

Trust

4

.875

01/15/26

185,860‌

Series

-

2020

1

(Class

B)

182,380

United

Airlines

Pass

Through

Trust

3

.750

09/03/26

165,369‌

Series

-

2014

2

(Class

A)

2,046,531

United

Airlines

Pass

Through

Trust

5

.875

10/15/27

1,973,943‌

Series

-

2020

A

(Class

A)

141,977

United

Airlines

Pass

Through

Trust

3

.450

12/01/27

125,054‌

Series

-

2015

1

(Class

AA)

147,234

United

Airlines

Pass

Through

Trust

3

.100

07/07/28

124,792‌

Series

-

2016

1

(Class

AA)

147,235

United

Airlines

Pass

Through

Trust

3

.450

07/07/28

118,897‌

Series

-

2016

1

(Class

A)

304,848

United

Airlines

Pass

Through

Trust

2

.875

10/07/28

263,537‌

Series

-

2016

2

(Class

AA)

1,213,670

United

Airlines

Pass

Through

Trust

3

.500

03/01/30

1,064,474‌

Series

-

2018

1

(Class

AA)

309,283

United

Airlines

Pass

Through

Trust

4

.150

08/25/31

277,907‌

Series

-

2019

1

(Class

AA)

227,513

United

Airlines

Pass

Through

Trust

2

.700

05/01/32

181,605‌

Series

-

2019

2

(Class

AA)

4,410,000

Verizon

Master

Trust

0

.500

05/20/27

4,112,017‌

Series

-

2021

1

(Class

A)

3,000,000

Verizon

Master

Trust

0

.690

05/20/27

2,787,142‌

Series

-

2021

1

(Class

B)

815,000

Verizon

Master

Trust

0

.890

05/20/27

758,646‌

Series

-

2021

1

(Class

C)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

174

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

750,000

Volkswagen

Auto

Lease

Trust

0

.450

%

07/21/25

$

732,271‌

Series

-

2020

A

(Class

A4)

1,787,414

World

Omni

Auto

Receivables

Trust

0

.300

01/15/26

1,728,626‌

Series

-

2021

A

(Class

A3)

1,000,000

World

Omni

Auto

Receivables

Trust

0

.690

06/15/27

915,764‌

Series

-

2021

B

(Class

A4)

500,000

World

Omni

Auto

Receivables

Trust

1

.040

06/15/27

454,518‌

Series

-

2021

B

(Class

B)

392,043

World

Omni

Automobile

Lease

Securitization

Trust

0

.450

02/15/24

387,044‌

Series

-

2020

B

(Class

A3)

500,000

World

Omni

Automobile

Lease

Securitization

Trust

0

.750

11/16/26

468,304‌

Series

-

2021

A

(Class

B)

TOTAL

ASSET

BACKED

118,298,404‌

OTHER

MORTGAGE

BACKED

-

1

.9

%

2,500,000

BANK

1

.650

12/15/53

1,956,061‌

Series

-

2020

BN30

(Class

A3)

1,500,000

BANK

1

.925

12/15/53

1,172,012‌

Series

-

2020

BN30

(Class

A4)

500,000

i

BANK

2

.111

12/15/53

377,602‌

Series

-

2020

BN30

(Class

AS)

500,000

i

BANK

2

.445

12/15/53

373,887‌

Series

-

2020

BN30

(Class

B)

2,000,000

BANK

1

.771

02/15/54

1,553,663‌

Series

-

2021

BN31

(Class

A3)

1,000,000

BANK

2

.036

02/15/54

786,551‌

Series

-

2021

BN31

(Class

A4)

500,000

i

BANK

2

.211

02/15/54

376,276‌

Series

-

2021

BN31

(Class

AS)

500,000

i

BANK

2

.383

02/15/54

372,866‌

Series

-

2021

BN31

(Class

B)

500,000

i

BANK

2

.545

02/15/54

354,291‌

Series

-

2021

BN31

(Class

C)

2,000,000

BANK

3

.538

11/15/54

1,839,948‌

Series

-

2017

BNK9

(Class

A4)

500,000

BANK

4

.399

08/15/55

470,778‌

Series

-

2022

BNK43

(Class

A5)

500,000

i

BANK

5

.405

08/15/55

438,444‌

Series

-

2022

BNK43

(Class

C)

1,500,000

BANK

3

.390

06/15/60

1,378,021‌

Series

-

2017

BNK5

(Class

A5)

5,000,000

BANK

3

.641

02/15/61

4,775,460‌

Series

-

2018

BN10

(Class

ASB)

2,000,000

i

BANK

3

.898

02/15/61

1,795,429‌

Series

-

2018

BN10

(Class

AS)

8,000,000

BANK

3

.584

05/15/62

7,216,269‌

Series

-

2019

BN18

(Class

A4)

5,000,000

BANK

1

.584

03/15/63

3,871,268‌

Series

-

2020

BN28

(Class

A3)

1,000,000

BANK

2

.438

06/15/63

807,220‌

Series

-

2021

BN34

(Class

A5)

1,000,000

BANK

2

.556

05/15/64

818,113‌

Series

-

2021

BN33

(Class

A5)

1,000,000

BANK

2

.792

05/15/64

791,509‌

Series

-

2021

BN33

(Class

AS)

500,000

BANK

3

.297

05/15/64

373,686‌

Series

-

2021

BN33

(Class

C)

1,000,000

g,i

BANK

2

.500

06/15/64

632,730‌

Series

-

2021

BN35

(Class

D)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

175

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

3,000,000

Barclays

Commercial

Mortgage

Trust

3

.674

%

02/15/50

$

2,806,969‌

Series

-

2017

C1

(Class

A4)

12,500,000

Barclays

Commercial

Mortgage

Trust

2

.690

02/15/53

11,775,379‌

Series

-

2020

C6

(Class

A2)

500,000

BBCMS

Trust

4

.441

09/15/55

472,378‌

Series

-

2022

C17

(Class

A5)

1,000,000

i

Benchmark

Mortgage

Trust

3

.878

01/15/51

901,580‌

Series

-

2018

B1

(Class

AM)

844,596

Benchmark

Mortgage

Trust

3

.976

07/15/51

833,977‌

Series

-

2018

B4

(Class

A2)

1,000,000

i

Benchmark

Mortgage

Trust

4

.701

07/15/51

867,041‌

Series

-

2018

B4

(Class

C)

5,850,000

Benchmark

Mortgage

Trust

3

.542

05/15/52

5,272,470‌

Series

-

2019

B11

(Class

A5)

1,000,000

i

Benchmark

Mortgage

Trust

2

.944

02/15/53

822,154‌

Series

-

2020

B16

(Class

AM)

1,500,000

i

Benchmark

Mortgage

Trust

3

.176

02/15/53

1,214,576‌

Series

-

2020

B16

(Class

B)

1,500,000

i

Benchmark

Mortgage

Trust

3

.535

02/15/53

1,183,921‌

Series

-

2020

B16

(Class

C)

2,000,000

i

Benchmark

Mortgage

Trust

4

.510

05/15/53

1,913,669‌

Series

-

2018

B7

(Class

A4)

5,000,000

Benchmark

Mortgage

Trust

1

.925

07/15/53

3,961,631‌

Series

-

2020

B18

(Class

A5)

2,500,000

Benchmark

Mortgage

Trust

1

.704

12/17/53

1,958,610‌

Series

-

2020

B21

(Class

A4)

2,500,000

Benchmark

Mortgage

Trust

1

.978

12/17/53

1,966,074‌

Series

-

2020

B21

(Class

A5)

2,500,000

Benchmark

Mortgage

Trust

1

.685

01/15/54

1,957,093‌

Series

-

2020

B22

(Class

A4)

1,500,000

Benchmark

Mortgage

Trust

1

.973

01/15/54

1,173,372‌

Series

-

2020

B22

(Class

A5)

1,500,000

Benchmark

Mortgage

Trust

2

.163

01/15/54

1,128,234‌

Series

-

2020

B22

(Class

AM)

2,000,000

Benchmark

Mortgage

Trust

1

.620

02/15/54

1,767,458‌

Series

-

2021

B23

(Class

A2)

1,500,000

Benchmark

Mortgage

Trust

1

.823

02/15/54

1,169,430‌

Series

-

2021

B23

(Class

A4A1)

1,500,000

Benchmark

Mortgage

Trust

2

.070

02/15/54

1,179,628‌

Series

-

2021

B23

(Class

A5)

500,000

Benchmark

Mortgage

Trust

2

.095

02/15/54

360,912‌

Series

-

2021

B23

(Class

B)

500,000

Benchmark

Mortgage

Trust

2

.274

02/15/54

378,461‌

Series

-

2021

B23

(Class

AS)

500,000

i

Benchmark

Mortgage

Trust

2

.563

02/15/54

353,157‌

Series

-

2021

B23

(Class

C)

1,000,000

Benchmark

Mortgage

Trust

2

.577

04/15/54

818,221‌

Series

-

2021

B25

(Class

A5)

1,000,000

Benchmark

Mortgage

Trust

2

.847

04/15/54

790,905‌

Series

-

2021

B25

(Class

AS)

1,700,000

Benchmark

Mortgage

Trust

2

.613

06/15/54

1,396,465‌

Series

-

2021

B26

(Class

A5)

702,000

i

Benchmark

Mortgage

Trust

2

.688

06/15/54

528,590‌

Series

-

2021

B26

(Class

B)

500,000

Benchmark

Mortgage

Trust

2

.825

06/15/54

394,617‌

Series

-

2021

B26

(Class

AM)

1,500,000

Benchmark

Mortgage

Trust

2

.512

07/15/54

1,157,709‌

Series

-

2021

B27

(Class

AS)

500,000

i

Benchmark

Mortgage

Trust

4

.470

07/15/55

472,410‌

Series

-

2022

B36

(Class

A5)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

176

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

500,000

i

Benchmark

Mortgage

Trust

5

.290

%

07/15/55

$

442,955‌

Series

-

2022

B36

(Class

C)

5,000,000

Benchmark

Mortgage

Trust

2

.914

12/15/72

4,717,951‌

Series

-

2019

B15

(Class

A2)

1,000,000

i

CD

Mortgage

Trust

3

.526

11/10/49

932,341‌

Series

-

2016

CD2

(Class

A4)

2,000,000

CD

Mortgage

Trust

3

.631

02/10/50

1,865,440‌

Series

-

2017

CD3

(Class

A4)

12,312

CD

Mortgage

Trust

3

.025

08/15/50

11,296‌

Series

-

2017

CD5

(Class

A2)

2,500,000

CD

Mortgage

Trust

3

.431

08/15/50

2,301,307‌

Series

-

2017

CD5

(Class

A4)

1,000,000

i

CD

Mortgage

Trust

3

.684

08/15/50

904,042‌

Series

-

2017

CD5

(Class

AS)

1,750,000

CD

Mortgage

Trust

4

.279

08/15/51

1,664,064‌

Series

-

2018

CD7

(Class

A4)

1,053,000

Citigroup

Commercial

Mortgage

Trust

3

.422

04/10/46

1,042,251‌

Series

-

2013

GC11

(Class

AS)

755,000

Citigroup

Commercial

Mortgage

Trust

4

.023

03/10/47

742,470‌

Series

-

2014

GC19

(Class

A4)

440,887

Citigroup

Commercial

Mortgage

Trust

3

.622

07/10/47

427,997‌

Series

-

2014

GC23

(Class

A4)

500,000

Citigroup

Commercial

Mortgage

Trust

3

.635

10/10/47

483,697‌

Series

-

2014

GC25

(Class

A4)

1,000,000

Citigroup

Commercial

Mortgage

Trust

3

.137

02/10/48

955,106‌

Series

-

2015

GC27

(Class

A5)

1,000,000

Citigroup

Commercial

Mortgage

Trust

3

.571

02/10/48

948,797‌

Series

-

2015

GC27

(Class

AS)

1,000,000

Citigroup

Commercial

Mortgage

Trust

3

.616

02/10/49

942,482‌

Series

-

2016

GC36

(Class

A5)

2,000,000

Citigroup

Commercial

Mortgage

Trust

3

.314

04/10/49

1,872,577‌

Series

-

2016

GC37

(Class

A4)

500,000

Citigroup

Commercial

Mortgage

Trust

3

.576

04/10/49

460,697‌

Series

-

2016

GC37

(Class

AS)

1,500,000

Citigroup

Commercial

Mortgage

Trust

2

.832

08/10/49

1,364,704‌

Series

-

2016

C2

(Class

A4)

1,000,000

Citigroup

Commercial

Mortgage

Trust

3

.465

09/15/50

921,726‌

Series

-

2017

P8

(Class

A4)

1,480,000

Citigroup

Commercial

Mortgage

Trust

3

.778

09/10/58

1,416,104‌

Series

-

2015

GC33

(Class

A4)

222,731

COMM

Mortgage

Trust

2

.941

01/10/46

222,059‌

Series

-

2013

LC6

(Class

A4)

320,069

COMM

Mortgage

Trust

3

.213

03/10/46

317,998‌

Series

-

2013

CR7

(Class

A4)

1,000,000

COMM

Mortgage

Trust

4

.046

10/10/46

988,079‌

Series

-

2013

CR12

(Class

A4)

2,750,000

COMM

Mortgage

Trust

3

.955

02/10/47

2,709,531‌

Series

-

2014

CR14

(Class

A3)

500,000

COMM

Mortgage

Trust

3

.961

03/10/47

490,590‌

Series

-

2014

UBS2

(Class

A5)

1,000,000

COMM

Mortgage

Trust

4

.051

04/10/47

981,430‌

Series

-

2014

CR16

(Class

A4)

1,000,000

COMM

Mortgage

Trust

3

.819

06/10/47

977,969‌

Series

-

2014

UBS3

(Class

A4)

1,000,000

COMM

Mortgage

Trust

3

.694

08/10/47

970,764‌

Series

-

2014

UBS4

(Class

A5)

763,481

COMM

Mortgage

Trust

3

.326

11/10/47

736,630‌

Series

-

2014

CR20

(Class

A3)

1,000,000

COMM

Mortgage

Trust

3

.590

11/10/47

967,499‌

Series

-

2014

CR20

(Class

A4)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

177

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

1,000,000

i

COMM

Mortgage

Trust

4

.339

%

12/10/47

$

946,737‌

Series

-

2014

CR21

(Class

B)

3,150,000

COMM

Mortgage

Trust

3

.183

02/10/48

3,006,117‌

Series

-

2015

LC19

(Class

A4)

1,000,000

i

COMM

Mortgage

Trust

4

.356

02/10/48

929,998‌

Series

-

2015

LC19

(Class

C)

1,700,000

COMM

Mortgage

Trust

3

.708

07/10/48

1,630,720‌

Series

-

2015

LC21

(Class

A4)

636,069

COMM

Mortgage

Trust

3

.432

08/10/48

606,236‌

Series

-

2015

CR24

(Class

A4)

1,000,000

COMM

Mortgage

Trust

3

.759

08/10/48

957,584‌

Series

-

2015

CR25

(Class

A4)

275,706

COMM

Mortgage

Trust

3

.221

10/10/48

275,406‌

Series

-

2015

LC23

(Class

A2)

1,500,000

COMM

Mortgage

Trust

3

.774

10/10/48

1,432,864‌

Series

-

2015

LC23

(Class

A4)

500,000

COMM

Mortgage

Trust

4

.258

08/10/50

496,944‌

Series

-

2013

CR11

(Class

A4)

5,000,000

COMM

Mortgage

Trust

2

.827

08/15/57

4,731,721‌

Series

-

2019

GC44

(Class

A2)

3,000,000

COMM

Mortgage

Trust

3

.263

08/15/57

2,534,508‌

Series

-

2019

GC44

(Class

AM)

650,000

i

CSAIL

Commercial

Mortgage

Trust

5

.084

01/15/49

581,264‌

Series

-

2016

C6

(Class

C)

2,000,000

i

CSAIL

Commercial

Mortgage

Trust

4

.224

08/15/51

1,888,140‌

Series

-

2018

CX12

(Class

A4)

10,000,000

CSAIL

Commercial

Mortgage

Trust

4

.053

03/15/52

9,285,839‌

Series

-

2019

C15

(Class

A4)

2,000,000

DBGS

Mortgage

Trust

4

.358

10/15/51

1,977,230‌

Series

-

2018

C1

(Class

A2)

5,790,000

DBGS

Mortgage

Trust

4

.466

10/15/51

5,530,181‌

Series

-

2018

C1

(Class

A4)

3,500,000

DBJPM

3

.276

05/10/49

3,261,251‌

Series

-

2016

C1

(Class

A4)

1,000,000

DBJPM

3

.539

05/10/49

917,839‌

Series

-

2016

C1

(Class

AM)

1,590,000

DBJPM

3

.328

06/10/50

1,461,367‌

Series

-

2017

C6

(Class

A5)

5,000,000

DBJPM

1

.900

08/15/53

4,545,168‌

Series

-

2020

C9

(Class

A2)

1,500,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.199

12/25/27

1,255,721‌

Series

-

2021

K741

(Class

AM)

8,440,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.603

12/25/27

7,288,130‌

Series

-

2021

K741

(Class

A2)

2,950,351

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.712

07/25/28

2,537,619‌

Series

-

2021

K744

(Class

A2)

915,649

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.229

03/25/30

790,033‌

Series

-

2021

K128

(Class

A1)

972,123

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.101

08/25/30

821,358‌

Series

-

2021

K125

(Class

A1)

1,974,765

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.353

11/25/30

1,679,631‌

Series

-

2021

K127

(Class

A1)

1,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.792

01/25/31

806,852‌

Series

-

2021

K126

(Class

AM)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

178

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

9,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.846

%

01/25/31

$

7,347,461‌

Series

-

2021

K125

(Class

A2)

3,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

2

.108

01/25/31

2,485,576‌

Series

-

2021

K127

(Class

A2)

1,332,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.851

02/25/31

1,070,704‌

Series

-

2021

K127

(Class

AM)

1,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.749

03/25/31

800,173‌

Series

-

2021

K128

(Class

AM)

2,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

2

.020

03/25/31

1,655,275‌

Series

-

2021

K128

(Class

A2)

1,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.647

05/25/31

790,295‌

Series

-

2021

K129

(Class

AM)

3,000,000

i

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

3

.500

07/25/32

2,748,221‌

Series

-

2022

K148

(Class

A2)

1,887,764

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

2

.007

07/25/35

1,582,445‌

Series

-

2021

1520

(Class

A1)

2,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

2

.438

02/25/36

1,551,561‌

Series

-

2021

1520

(Class

A2)

2,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

2

.184

08/25/36

1,488,720‌

Series

-

2021

1521

(Class

A2)

300,000

GS

Mortgage

Securities

Corp

II

2

.943

02/10/46

298,996‌

Series

-

2013

GC10

(Class

A5)

300,000

GS

Mortgage

Securities

Corp

II

3

.279

02/10/46

298,312‌

Series

-

2013

GC10

(Class

AS)

800,000

GS

Mortgage

Securities

Corp

II

3

.382

05/10/50

761,675‌

Series

-

2015

GC30

(Class

A4)

500,000

GS

Mortgage

Securities

Trust

3

.135

06/10/46

494,650‌

Series

-

2013

GC12

(Class

A4)

142,429

GS

Mortgage

Securities

Trust

3

.813

11/10/46

141,486‌

Series

-

2013

GC16

(Class

AAB)

1,000,000

GS

Mortgage

Securities

Trust

4

.074

01/10/47

984,685‌

Series

-

2014

GC18

(Class

A4)

1,500,000

GS

Mortgage

Securities

Trust

3

.964

11/10/47

1,418,257‌

Series

-

2014

GC26

(Class

AS)

1,749,843

GS

Mortgage

Securities

Trust

3

.136

02/10/48

1,674,920‌

Series

-

2015

GC28

(Class

A4)

1,423,318

GS

Mortgage

Securities

Trust

3

.178

11/10/49

1,308,408‌

Series

-

2016

GS4

(Class

A3)

1,350,000

i

GS

Mortgage

Securities

Trust

4

.079

11/10/49

1,163,043‌

Series

-

2016

GS4

(Class

C)

576,808

GS

Mortgage

Securities

Trust

2

.945

08/10/50

576,252‌

Series

-

2017

GS7

(Class

A2)

1,500,000

GS

Mortgage

Securities

Trust

3

.430

08/10/50

1,379,043‌

Series

-

2017

GS7

(Class

A4)

1,000,000

GS

Mortgage

Securities

Trust

3

.872

02/10/52

981,850‌

Series

-

2019

GC38

(Class

A2)

2,500,000

GS

Mortgage

Securities

Trust

3

.968

02/10/52

2,320,705‌

Series

-

2019

GC38

(Class

A4)

500,000

i

GS

Mortgage

Securities

Trust

4

.309

02/10/52

443,293‌

Series

-

2019

GC38

(Class

B)

2,500,000

GS

Mortgage

Securities

Trust

2

.898

02/13/53

2,364,998‌

Series

-

2020

GC45

(Class

A2)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

179

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

4,000,000

i

GS

Mortgage

Securities

Trust

3

.173

%

02/13/53

$

3,354,428‌

Series

-

2020

GC45

(Class

AS)

2,000,000

i

GS

Mortgage

Securities

Trust

3

.405

02/13/53

1,649,176‌

Series

-

2020

GC45

(Class

B)

2,000,000

GS

Mortgage

Securities

Trust

2

.125

05/12/53

1,604,999‌

Series

-

2020

GC47

(Class

A4)

4,000,000

GS

Mortgage

Securities

Trust

2

.377

05/12/53

3,278,896‌

Series

-

2020

GC47

(Class

A5)

1,000,000

GS

Mortgage

Securities

Trust

1

.662

12/12/53

844,940‌

Series

-

2020

GSA2

(Class

AAB)

3,000,000

GS

Mortgage

Securities

Trust

1

.721

12/12/53

2,336,507‌

Series

-

2020

GSA2

(Class

A4)

2,000,000

GS

Mortgage

Securities

Trust

2

.012

12/12/53

1,560,204‌

Series

-

2020

GSA2

(Class

A5)

1,000,000

GS

Mortgage

Securities

Trust

2

.224

12/12/53

764,694‌

Series

-

2020

GSA2

(Class

AS)

300,000

i

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

5

.129

05/15/45

289,027‌

Series

-

2012

C6

(Class

D)

410,544

i

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

3

.994

01/15/46

406,400‌

Series

-

2013

C13

(Class

A4)

1,500,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

2

.960

04/15/46

1,480,812‌

Series

-

2013

LC11

(Class

A5)

500,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

4

.166

12/15/46

493,574‌

Series

-

2013

C16

(Class

A4)

23,978

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

2

.702

12/15/47

23,911‌

Series

-

2013

C10

(Class

ASB)

41,172

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

2

.840

12/15/47

41,093‌

Series

-

2012

LC9

(Class

A5)

306,830

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

3

.143

12/15/47

305,002‌

Series

-

2013

C10

(Class

A5)

574,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

3

.372

12/15/47

568,876‌

Series

-

2013

C10

(Class

AS)

1,000,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

2

.822

08/15/49

913,656‌

Series

-

2016

JP2

(Class

A4)

681,668

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

3

.109

07/15/50

658,887‌

Series

-

2017

JP6

(Class

A3)

2,500,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

3

.454

09/15/50

2,304,193‌

Series

-

2017

JP7

(Class

A5)

2,150,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

3

.219

06/13/52

1,980,079‌

Series

-

2019

COR5

(Class

ASB)

2,000,000

JPMBB

Commercial

Mortgage

Securities

Trust

3

.801

09/15/47

1,947,449‌

Series

-

2014

C22

(Class

A4)

1,875,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

4

.118

05/15/48

1,743,136‌

Series

-

2015

C29

(Class

B)

2,700,000

JPMBB

Commercial

Mortgage

Securities

Trust

3

.227

10/15/48

2,565,048‌

Series

-

2015

C28

(Class

A4)

1,100,000

JPMBB

Commercial

Mortgage

Securities

Trust

3

.532

10/15/48

1,031,280‌

Series

-

2015

C28

(Class

AS)

2,000,000

JPMBB

Commercial

Mortgage

Securities

Trust

3

.770

12/15/48

1,909,123‌

Series

-

2015

C33

(Class

A4)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

180

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

1,000,000

JPMBB

Commercial

Mortgage

Securities

Trust

3

.576

%

03/17/49

$

945,857‌

Series

-

2016

C1

(Class

A5)

500,000

JPMBB

Commercial

Mortgage

Securities

Trust

3

.970

03/17/49

468,149‌

Series

-

2016

C1

(Class

AS)

500,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

4

.894

03/17/49

470,445‌

Series

-

2016

C1

(Class

B)

1,000,000

i

JPMDB

Commercial

Mortgage

Securities

Trust

3

.990

06/15/49

857,629‌

Series

-

2016

C2

(Class

B)

5,922,824

JPMDB

Commercial

Mortgage

Securities

Trust

3

.141

12/15/49

5,445,772‌

Series

-

2016

C4

(Class

A3)

5,000,000

JPMDB

Commercial

Mortgage

Securities

Trust

2

.946

11/13/52

4,760,715‌

Series

-

2019

COR6

(Class

A2)

51,034

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2

.918

02/15/46

50,875‌

Series

-

2013

C7

(Class

A4)

484,040

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2

.834

05/15/46

479,335‌

Series

-

2013

C9

(Class

A3)

1,250,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.102

05/15/46

1,234,578‌

Series

-

2013

C9

(Class

A4)

500,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.456

05/15/46

491,746‌

Series

-

2013

C9

(Class

AS)

240,000

i

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.708

05/15/46

233,659‌

Series

-

2013

C9

(Class

B)

23,935

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.824

10/15/46

23,853‌

Series

-

2013

C12

(Class

ASB)

317,854

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.654

04/15/47

314,224‌

Series

-

2014

C15

(Class

ASB)

2,000,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.892

06/15/47

1,960,048‌

Series

-

2014

C16

(Class

A5)

3,500,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.249

02/15/48

3,344,461‌

Series

-

2015

C20

(Class

A4)

1,000,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.306

04/15/48

951,610‌

Series

-

2015

C22

(Class

A4)

1,000,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.732

05/15/48

957,004‌

Series

-

2015

C24

(Class

A4)

2,034,805

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.134

12/15/48

2,029,305‌

Series

-

2013

C8

(Class

A4)

2,000,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.599

05/15/50

1,861,234‌

Series

-

2017

C33

(Class

A5)

535,000

Morgan

Stanley

Capital

I

Trust

3

.594

03/15/49

505,040‌

Series

-

2016

UBS9

(Class

A4)

508,072

Morgan

Stanley

Capital

I

Trust

3

.997

07/15/51

503,356‌

Series

-

2018

H3

(Class

A2)

1,000,000

i

Morgan

Stanley

Capital

I

Trust

5

.025

07/15/51

882,658‌

Series

-

2018

H3

(Class

C)

1,500,000

i

Morgan

Stanley

Capital

I

Trust

4

.238

10/15/51

1,443,113‌

Series

-

2018

L1

(Class

ASB)

2,000,000

Morgan

Stanley

Capital

I

Trust

4

.288

10/15/51

1,974,473‌

Series

-

2018

L1

(Class

A2)

1,500,000

i

Morgan

Stanley

Capital

I

Trust

4

.407

10/15/51

1,424,030‌

Series

-

2018

L1

(Class

A4)

1,000,000

Morgan

Stanley

Capital

I

Trust

4

.071

03/15/52

930,984‌

Series

-

2019

L2

(Class

A4)

5,000,000

Morgan

Stanley

Capital

I

Trust

3

.224

06/15/52

4,607,310‌

Series

-

2019

H6

(Class

ASB)

750,000

Morgan

Stanley

Capital

I

Trust

3

.417

06/15/52

663,079‌

Series

-

2019

H6

(Class

A4)

5,000,000

Morgan

Stanley

Capital

I

Trust

1

.790

07/15/53

3,935,122‌

Series

-

2020

HR8

(Class

A3)

2,000,000

Morgan

Stanley

Capital

I

Trust

2

.438

05/15/54

1,640,608‌

Series

-

2021

L5

(Class

A3)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

181

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

1,000,000

Morgan

Stanley

Capital

I

Trust

2

.951

%

05/15/54

$

804,534‌

Series

-

2021

L5

(Class

AS)

907,057

UBS

Barclays

Commercial

Mortgage

Trust

3

.185

03/10/46

903,694‌

Series

-

2013

C5

(Class

A4)

500,000

UBS

Barclays

Commercial

Mortgage

Trust

3

.244

04/10/46

495,969‌

Series

-

2013

C6

(Class

A4)

31,041

UBS

Barclays

Commercial

Mortgage

Trust

3

.525

05/10/63

31,004‌

Series

-

2012

C2

(Class

A4)

393,487

UBS

Commercial

Mortgage

Trust

2

.998

08/15/50

392,864‌

Series

-

2017

C3

(Class

A2)

1,500,000

UBS

Commercial

Mortgage

Trust

3

.426

08/15/50

1,377,264‌

Series

-

2017

C3

(Class

A4)

1,000,000

i

UBS

Commercial

Mortgage

Trust

3

.739

08/15/50

901,794‌

Series

-

2017

C3

(Class

AS)

11,000,000

UBS

Commercial

Mortgage

Trust

4

.313

05/15/51

10,462,192‌

Series

-

2018

C10

(Class

A4)

2,000,000

UBS

Commercial

Mortgage

Trust

4

.296

08/15/51

1,886,026‌

Series

-

2018

C12

(Class

A5)

2,400,000

i

UBS

Commercial

Mortgage

Trust

5

.434

12/15/51

2,012,865‌

Series

-

2018

C14

(Class

C)

875,000

i

Wells

Fargo

Commercial

Mortgage

Trust

3

.872

05/15/48

828,529‌

Series

-

2015

C28

(Class

AS)

2,000,000

Wells

Fargo

Commercial

Mortgage

Trust

3

.695

11/15/48

1,900,566‌

Series

-

2015

C31

(Class

A4)

480,000

i

Wells

Fargo

Commercial

Mortgage

Trust

4

.224

12/15/48

445,524‌

Series

-

2015

NXS4

(Class

B)

2,000,000

Wells

Fargo

Commercial

Mortgage

Trust

2

.652

08/15/49

1,809,267‌

Series

-

2016

BNK1

(Class

A3)

500,000

Wells

Fargo

Commercial

Mortgage

Trust

2

.967

08/15/49

422,622‌

Series

-

2016

BNK1

(Class

B)

1,000,000

Wells

Fargo

Commercial

Mortgage

Trust

3

.377

11/15/49

893,705‌

Series

-

2016

NXS6

(Class

AS)

2,000,000

Wells

Fargo

Commercial

Mortgage

Trust

4

.152

08/15/51

1,880,030‌

Series

-

2018

C46

(Class

A4)

2,700,000

Wells

Fargo

Commercial

Mortgage

Trust

3

.760

03/15/52

2,468,893‌

Series

-

2019

C49

(Class

A4)

2,000,000

Wells

Fargo

Commercial

Mortgage

Trust

3

.635

05/15/52

1,878,025‌

Series

-

2019

C50

(Class

ASB)

3,250,000

Wells

Fargo

Commercial

Mortgage

Trust

4

.192

05/15/52

2,866,340‌

Series

-

2019

C50

(Class

B)

10,000,000

Wells

Fargo

Commercial

Mortgage

Trust

3

.040

10/15/52

8,637,015‌

Series

-

2019

C53

(Class

A4)

2,500,000

Wells

Fargo

Commercial

Mortgage

Trust

1

.810

07/15/53

1,968,434‌

Series

-

2020

C58

(Class

A3)

1,500,000

Wells

Fargo

Commercial

Mortgage

Trust

2

.092

07/15/53

1,182,627‌

Series

-

2020

C58

(Class

A4)

500,000

Wells

Fargo

Commercial

Mortgage

Trust

2

.398

07/15/53

385,800‌

Series

-

2020

C58

(Class

AS)

10,000,000

Wells

Fargo

Commercial

Mortgage

Trust

1

.864

08/15/53

7,898,358‌

Series

-

2020

C57

(Class

A3)

1,893,000

Wells

Fargo

Commercial

Mortgage

Trust

2

.626

04/15/54

1,544,398‌

Series

-

2021

C59

(Class

A5)

117,000

Wells

Fargo

Commercial

Mortgage

Trust

3

.896

03/15/59

103,871‌

Series

-

2016

C33

(Class

C)

775,000

WF-RBS

Commercial

Mortgage

Trust

3

.241

12/15/45

762,352‌

Series

-

2012

C10

(Class

AS)

600,000

WF-RBS

Commercial

Mortgage

Trust

3

.337

06/15/46

592,652‌

Series

-

2013

C14

(Class

A5)

500,000

i

WF-RBS

Commercial

Mortgage

Trust

4

.646

03/15/47

475,536‌

Series

-

2014

C19

(Class

C)

Portfolio

of

investments

(unaudited)

Bond

Index

Fund

September

30,

2022

182

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

1,000,000

i

WF-RBS

Commercial

Mortgage

Trust

4

.723

%

03/15/47

$

965,609‌

Series

-

2014

C19

(Class

B)

349,331

WF-RBS

Commercial

Mortgage

Trust

3

.198

03/15/48

348,169‌

Series

-

2013

C12

(Class

A4)

TOTAL

OTHER

MORTGAGE

BACKED

356,569,380‌

TOTAL

STRUCTURED

ASSETS

474,867,784‌

(Cost

$536,081,807)

TOTAL

BONDS

18,752,335,413‌

(Cost

$21,755,791,456)

REFERENCERATE

&

SPREAD

SHORT-TERM

INVESTMENTS

-

2.5%

GOVERNMENT

AGENCY

DEBT

-

0

.2

%

$

12,500,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

10/27/22

12,475,150‌

10,000,000

FHLB

0

.000

11/01/22

9,974,658‌

10,000,000

Tennessee

Valley

Authority

(TVA)

0

.000

10/05/22

9,998,342‌

TOTAL

GOVERNMENT

AGENCY

DEBT

32,448,150‌

REPURCHASE

AGREEMENT

-

0

.9

%

164,370,000

r

Fixed

Income

Clearing

Corp

(FICC)

2

.950

10/03/22

164,370,000‌

TOTAL

REPURCHASE

AGREEMENT

164,370,000‌

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

1

.4

%

263,564,431

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3

.070

263,564,431‌

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

263,564,431‌

TOTAL

SHORT-TERM

INVESTMENTS

460,382,581‌

(Cost

$460,383,010)

TOTAL

INVESTMENTS

-

101.9%

19,212,717,994‌

(Cost

$22,216,174,466)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(1.9)%

(

349,786,687‌

)

NET

ASSETS

-

100.0%

$

18,862,931,307‌

DGS1

1-Year

Treasury

Constant

Maturity

Rate

LIBOR

London

Interbank

Offered

Rate

M

Month

REIT

Real

Estate

Investment

Trust

‡

Perpetual

security

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

$262,852,028.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

h

All

or

a

portion

of

these

securities

were

purchased

on

a

delayed

delivery

basis.

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

k

Principal

amount

for

interest

accrual

purposes

is

periodically

adjusted

based

on

changes

in

the

Consumer

Price

Index.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.950%

dated

9/30/22

to

be

repurchased

at

$164,370,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$167,657,439.

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

183

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANK

LOAN

OBLIGATIONS

-

1.1%

AUTOMOBILES

&

COMPONENTS

-

0.0%

$

447,326

i

Clarios

Global

LP

LIBOR

12

M

+

3.250%

6.365

%

04/30/26

$

424,494‌

796,492

i

Gates

Global

LLC

LIBOR

12

M

+

2.500%

5.615

03/31/27

766,735‌

TOTAL

AUTOMOBILES

&

COMPONENTS

1,191,229‌

CAPITAL

GOODS

-

0.1%

701,491

i

Avolon

TLB

Borrower

US

LLC

LIBOR

12

M

+

1.750%

4.764

01/15/25

686,510‌

901,885

i

Avolon

TLB

Borrower

US

LLC

LIBOR

12

M

+

1.500%

4.514

02/12/27

866,748‌

476,306

i

Clydesdale

Acquisition

Holdings,

Inc

SOFR

12M

+

4.175%

7.309

04/13/29

450,641‌

481,396

i

Cornerstone

Building

Brands,

Inc

LIBOR

12

M

+

3.250%

6.068

04/12/28

398,206‌

393,182

i

SRAM

LLC

LIBOR

4

M

+

2.750%

5.556

05/18/28

372,540‌

1,436,759

i

TransDigm,

Inc

LIBOR

4

M

+

2.250%

5.924

08/22/24

1,404,223‌

470,587

i

TransDigm,

Inc

LIBOR

4

M

+

2.250%

5.924

12/09/25

452,013‌

576,256

i

Univar

Solutions

USA,

Inc

LIBOR

12

M

+

1.750%

4.865

06/03/28

570,251‌

TOTAL

CAPITAL

GOODS

5,201,132‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0.1%

274,313

i

Amentum

Government

Services

Holdings

LLC

SOFR

4M

+

4.000%

7.206

02/15/29

262,654‌

643,574

i

Clean

Harbors,

Inc

LIBOR

12

M

+

1.750%

4.865

06/28/24

642,689‌

640,339

i

Dun

&

Bradstreet

Corp

LIBOR

12

M

+

3.250%

6.330

02/06/26

620,569‌

670,243

i

GFL

Environmental,

Inc

LIBOR

4

M

+

3.000%

5.806

05/30/25

664,255‌

1,225,939

i

Intrado

Corp

LIBOR

12

M

+

4.000%

7.115

10/10/24

1,057,666‌

718,002

i

Peraton

Corp

LIBOR

12

M

+

3.750%

6.865

02/01/28

682,371‌

1,289,218

i

Prime

Security

Services

Borrower

LLC

LIBOR

12

M

+

2.750%

5.303

09/23/26

1,251,650‌

727,330

i

Sedgwick

Claims

Management

Services,

Inc

LIBOR

12

M

+

3.250%

6.365

12/31/25

690,662‌

457,477

i

Spin

Holdco,

Inc

LIBOR

4

M

+

4.000%

7.144

03/04/28

403,151‌

864,183

i

Trans

Union

LLC

LIBOR

12

M

+

2.250%

5.365

12/01/28

838,802‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

7,114,469‌

CONSUMER

DURABLES

&

APPAREL

-

0.0%

992,500

i

Conair

Holdings

LLC

LIBOR

4

M

+

3.750%

6.000

05/17/28

841,764‌

1,054,710

i

Samsonite

IP

Holdings

Sarl

LIBOR

12

M

+

1.750%

4.865

04/25/25

1,025,705‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

1,867,469‌

CONSUMER

SERVICES

-

0.1%

1,318,563

i

1011778

BC

ULC

LIBOR

12

M

+

2.000%

5.115

07/03/28

1,264,053‌

1,354,375

i

AlixPartners

LLP

LIBOR

12

M

+

2.750%

5.865

02/04/28

1,304,189‌

201,800

i

Caesars

Resort

Collection

LLC

LIBOR

12

M

+

3.500%

6

.615

07/21/25

199,307‌

589,045

i

Carnival

Corp

LIBOR

4

M

+

3.250%

6.127

10/18/28

519,832‌

660,013

i

CCC

Intelligent

Solutions,

Inc

LIBOR

4

M

+

2.250%

4.500

09/21/28

641,311‌

984,456

i

ClubCorp

Holdings,

Inc

LIBOR

4

M

+

2.750%

6.424

09/18/24

909,598‌

210,000

h,i

Element

Materials

Technology

Group

US

Holdings,

Inc

SOFR

3M

+

4.250%

0.000

04/12/29

198,188‌

455,000

h,i

Element

Materials

Technology

Group

US

Holdings,

Inc

SOFR

1M

+

4.250%

6.360

04/12/29

429,406‌

972,542

i

Fertitta

Entertainment

LLC

SOFR

1M

+

4.000%

6.455

01/27/29

904,970‌

861,864

i

IRB

Holding

Corp

SOFR

12M

+

3.000%

5.696

12/15/27

809,613‌

382,703

i

KFC

Holding

Co

LIBOR

12

M

+

1.750%

4.743

03/15/28

379,515‌

643,824

i

Life

Time,

Inc

LIBOR

4

M

+

4.750%

7.820

12/16/24

637,588‌

309,724

i

Penn

National

Gaming,

Inc

SOFR

12M

+

2.750%

5.884

05/03/29

298,496‌

2,241,003

i

Sophia

LP

LIBOR

4

M

+

3.500%

7.174

10/07/27

2,159,767‌

1,357,813

i

Stars

Group

Holdings

BV

LIBOR

4

M

+

2.250%

5.892

07/21/26

1,308,931‌

447,093

i

Sterling

Midco

Holdings,

Inc

LIBOR

4

M

+

3.500%

6.570

06/19/24

442,345‌

TOTAL

CONSUMER

SERVICES

12,407,109‌

DIVERSIFIED

FINANCIALS

-

0.0%

600,082

i

Lions

Gate

Capital

Holdings

LLC

LIBOR

12

M

+

2.250%

5.365

03/24/25

580,579‌

1,361,250

i

Reynolds

Group

Holdings,

Inc

LIBOR

12

M

+

3.250%

6.365

02/05/26

1,306,310‌

TOTAL

DIVERSIFIED

FINANCIALS

1,886,889‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

184

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY

-

0.0%

$

1,393,098

i

Buckeye

Partners

LP

LIBOR

12

M

+

2.250%

5.365

%

11/01/26

$

1,360,882‌

946,601

i

Delek

US

Holdings,

Inc

LIBOR

12

M

+

2.250%

5.365

03/31/25

918,913‌

193,674

i

DT

Midstream,

Inc

LIBOR

12

M

+

2.000%

5.125

06/26/28

194,071‌

TOTAL

ENERGY

2,473,866‌

FOOD

&

STAPLES

RETAILING

-

0.0%

969,528

i

US

Foods,

Inc

LIBOR

12

M

+

2.750%

5.865

11/22/28

949,076‌

TOTAL

FOOD

&

STAPLES

RETAILING

949,076‌

FOOD,

BEVERAGE

&

TOBACCO

-

0.0%

146,625

i

Froneri

US,

Inc

LIBOR

12

M

+

2.250%

5.365

01/29/27

138,762‌

1,876,250

i

Hayward

Industries,

Inc

LIBOR

12

M

+

2.500%

5.615

05/30/28

1,775,402‌

972,431

i

Hostess

Brands

LLC

LIBOR

4

M

+

2.250%

5.056

08/03/25

942,801‌

507,594

i

Triton

Water

Holdings,

Inc

LIBOR

4

M

+

3.500%

7.174

03/31/28

458,033‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

3,314,998‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0.1%

948,321

i

Change

Healthcare

Holdings

LLC

LIBOR

1

M

+

2.500%

5.024

03/01/24

946,609‌

590,834

i

Da

Vinci

Purchaser

Corp

LIBOR

4

M

+

4.000%

6.250

01/08/27

557,845‌

1,212,586

i

DaVita,

Inc

LIBOR

12

M

+

1.750%

4.865

08/12/26

1,155,582‌

611,199

i

Global

Medical

Response,

Inc

LIBOR

12

M

+

4.250%

7.378

10/02/25

532,965‌

628,509

i

Grifols

Worldwide

Operations

USA,

Inc

LIBOR

12

M

+

2.000%

5.115

11/15/27

598,001‌

128,471

i

NMN

Holdings

III

Corp

LIBOR

12

M

+

3.750%

6.865

11/13/25

116,106‌

598,734

i

NMN

Holdings

III

Corp

LIBOR

12

M

+

3.750%

6.865

11/13/25

541,106‌

1,900,938

i

Onex

TSG

Intermediate

Corp

LIBOR

12

M

+

4.750%

7.865

02/28/28

1,685,504‌

985,000

i

Phoenix

Guarantor,

Inc

LIBOR

12

M

+

3.500%

6.615

03/05/26

938,434‌

1,359,493

i

RegionalCare

Hospital

Partners

Holdings,

Inc

LIBOR

12

M

+

3.750%

6.871

11/16/25

1,267,483‌

946,734

i

Select

Medical

Corp

LIBOR

12

M

+

2.500%

5.620

03/06/25

918,038‌

1,159,243

i

Surgery

Center

Holdings,

Inc

LIBOR

12

M

+

3.750%

6.510

08/31/26

1,102,951‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

10,360,624‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0.0%

664,875

i

Energizer

Holdings,

Inc

LIBOR

12

M

+

2.250%

5.313

12/22/27

637,449‌

988,875

i

Weber-Stephen

Products

LLC

LIBOR

12

M

+

3.250%

6.365

10/30/27

811,960‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

1,449,409‌

INSURANCE

-

0.0%

672,263

i

Acrisure

LLC

LIBOR

12

M

+

3.500%

6.615

02/15/27

616,519‌

915,343

i

Asurion

LLC

LIBOR

12

M

+

3.000%

6.115

11/03/24

858,706‌

423,036

i

Asurion

LLC

LIBOR

12

M

+

3.250%

6.365

12/23/26

359,847‌

762,528

i

HUB

International

Ltd

LIBOR

4

M

+

3.250%

5.982

04/25/25

735,984‌

978,878

i

NFP

Corp

LIBOR

12

M

+

3.250%

6.365

02/15/27

922,103‌

474,485

i

USI,

Inc

LIBOR

4

M

+

2.750%

6.424

05/16/24

462,969‌

TOTAL

INSURANCE

3,956,128‌

MATERIALS

-

0.1%

677,046

i

Asplundh

Tree

Expert

LLC

LIBOR

12

M

+

1.750%

4.865

09/07/27

661,511‌

1,204,750

i

Eco

Services

Operations

Corp

LIBOR

4

M

+

2.500%

5.306

06/09/28

1,151,139‌

710,362

i

H.B.

Fuller

Co

LIBOR

12

M

+

2.000%

5.014

10/20/24

709,992‌

763,375

i

Kloeckner

Pentaplast

of

America,

Inc

SOFR

2M

+

4.750%

8.259

02/12/26

654,594‌

379,540

i

Messer

Industries

USA,

Inc

LIBOR

4

M

+

2.500%

6.174

03/02/26

363,914‌

145,392

i

Quikrete

Holdings,

Inc

LIBOR

12

M

+

2.625%

5.740

02/01/27

139,950‌

298,826

i

Reynolds

Consumer

Products

LLC

LIBOR

12

M

+

1.750%

4.865

02/04/27

288,483‌

869,593

i

Tronox

Finance

LLC

LIBOR

12

M

+

2.250%

5.365

03/10/28

828,505‌

143,913

i

WR

Grace

Holdings

LLC

LIBOR

4

M

+

3.750%

7.438

09/22/28

135,098‌

TOTAL

MATERIALS

4,933,186‌

MEDIA

&

ENTERTAINMENT

-

0.2

%

923,196

i

Alliance

Laundry

Systems

LLC

LIBOR

4

M

+

3.500%

5.955

10/08/27

887,035‌

485,805

i

Altice

Financing

S.A.

LIBOR

4

M

+

2.750%

5.262

01/31/26

456,049‌

606,600

i

Arterra

Wines

Canada,

Inc

LIBOR

4

M

+

3.500%

7.142

11/24/27

571,721‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

185

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MEDIA

&

ENTERTAINMENT—continued

$

196,500

i

Cablevision

Lightpath

LLC

LIBOR

12

M

+

3.250%

6.068

%

11/30/27

$

188,948‌

3,323

i

Cirque

Du

Soleil

Holding

USA

Newco,

Inc

LIBOR

4

M

+

6.000%

9.642

11/24/25

3,245‌

591,000

i

CNT

Holdings

I

Corp

SOFR

12M

+

3.500%

6.248

11/08/27

564,668‌

940,000

i

Coral-US

Co-Borrower

LLC

LIBOR

12

M

+

3.000%

5.818

10/15/29

905,925‌

500,000

i

Delta

2

Lux

Sarl

LIBOR

12

M

+

2.500%

5.615

02/01/24

495,177‌

1,458,844

†,i

Diamond

Sports

Group

LLC

SOFR

12M

+

8.000%

6.458

05/25/26

291,769‌

287,329

i

Diamond

Sports

Group

LLC

SOFR

12M

+

8.000%

10.696

05/25/26

277,272‌

891,800

i

DIRECTV

Financing

LLC

LIBOR

12

M

+

5.000%

8.115

08/02/27

832,999‌

988,227

i

INEOS

US

Petrochem

LLC

LIBOR

12

M

+

2.750%

5.865

01/29/26

924,408‌

1,197,000

i

Mozart

Borrower

LP

LIBOR

12

M

+

3.250%

6.365

10/23/28

1,102,922‌

231,080

i

Nielsen

Finance

LLC

LIBOR

12

M

+

2.000%

4.705

10/04/23

230,984‌

1,498,750

i

Phoenix

Newco,

Inc

LIBOR

12

M

+

3.250%

5.774

11/15/28

1,433,652‌

682,518

i

Rackspace

Technology

Global,

Inc

LIBOR

4

M

+

2.750%

5.617

02/15/28

490,775‌

1,215,813

i

Radiate

Holdco

LLC

LIBOR

12

M

+

3.250%

6

.365

09/25/26

1,127,672‌

960,428

i

Ryan

Specialty

Group

LLC

SOFR

12M

+

3.000%

6.134

09/01/27

931,615‌

275,000

i

SkyMiles

IP

Ltd

LIBOR

4

M

+

3.750%

6.460

10/20/27

276,482‌

924

i

TK

Elevator

US

Newco,

Inc

LIBOR

2

M

+

3.500%

6.871

07/30/27

888‌

329,953

i

Univision

Communications,

Inc

LIBOR

12

M

+

3.250%

5.774

03/15/26

313,919‌

950,000

i

Virgin

Media

Bristol

LLC

LIBOR

12

M

+

2.500%

5.318

01/31/28

908,965‌

261,359

i

Wand

NewCo

3,

Inc

LIBOR

12

M

+

3.000%

6.115

02/05/26

243,195‌

TOTAL

MEDIA

&

ENTERTAINMENT

13,460,285‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0.1%

531,502

i

Avantor,

Inc

LIBOR

12

M

+

2.250%

5.365

11/08/27

518,797‌

962,563

i

Catalent

Pharma

Solutions,

Inc

LIBOR

12

M

+

2.000%

5.063

02/22/28

956,345‌

1,277,545

i

Horizon

Therapeutics

USA,

Inc

LIBOR

12

M

+

2.000%

5.125

05/22/26

1,233,629‌

441,997

i

Jazz

Financing

Lux

Sarl

LIBOR

12

M

+

3.500%

6

.615

05/05/28

428,066‌

543,769

i

Organon

&

Co

LIBOR

4

M

+

3.000%

6.188

06/02/28

532,894‌

296,258

i

Perrigo

Investments

LLC

SOFR

12M

+

2.500%

5.634

04/20/29

292,554‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

3,962,285‌

REAL

ESTATE

-

0.0%

883,547

i

Cushman

&

Wakefield

plc

LIBOR

12

M

+

2.750%

5.865

08/21/25

846,628‌

TOTAL

REAL

ESTATE

846,628‌

RETAILING

-

0.0%

594,256

i

Chariot

Buyer

LLC

LIBOR

12

M

+

3.500%

6.615

11/03/28

542,012‌

609,239

h,i

LS

GROUP

OPCO

ACQUISITIO

LIBOR

4

M

+

3.250%

6.580

11/02/27

584,869‌

780,040

i

Resideo

Funding,

Inc

LIBOR

4

M

+

2.250%

5.180

02/11/28

759,081‌

960,207

i

Staples,

Inc

LIBOR

4

M

+

5.000%

7.782

04/16/26

846,682‌

TOTAL

RETAILING

2,732,644‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0.0%

327,527

i

Bright

Bidco

BV

SOFR

1M

+

8.000%

10.903

02/28/23

327,527‌

2,744,453

i,q

Bright

Bidco

BV

LIBOR

12

M

+

3.500%

6.514

06/30/24

957,993‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

1,285,520‌

SOFTWARE

&

SERVICES

-

0.1%

467,000

i

Avaya

Holdings

Corp

LIBOR

12

M

+

4.250%

7.068

12/15/27

255,243‌

383,775

i

Camelot

Finance

S.A.

LIBOR

12

M

+

3.000%

6.115

10/30/26

372,335‌

982,500

i

Camelot

US

Acquisition

LIBOR

12

M

+

3.000%

6.115

10/30/26

952,205‌

845,750

i

Informatica

LLC

LIBOR

12

M

+

2.750%

5.875

10/27/28

823,553‌

65,643

i

IQVIA,

Inc

LIBOR

12

M

+

1.750%

4.865

03/07/24

65,622‌

506,730

i

Light

&

Wonder,

Inc

SOFR

12M

+

3.000%

5.906

04/14/29

493,555‌

4,425

i

Magenta

Buyer

LLC

LIBOR

12

M

+

4.750%

7.870

07/27/28

4,009‌

817,000

i

NortonLifeLock,

Inc

SOFR

12M

+

2.000%

4.848

09/12/29

787,179‌

471,438

i

RealPage,

Inc

LIBOR

12

M

+

3.000%

5.524

04/24/28

442,890‌

683

i

Rocket

Software,

Inc

LIBOR

12

M

+

4.250%

7.365

11/28/25

655‌

645,135

i

SS&C

Technologies,

Inc

SOFR

12M

+

2.250%

5.384

03/22/29

629,007‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

186

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SOFTWARE

&

SERVICES—continued

$

456,884

i

SS&C

Technologies,

Inc

SOFR

12M

+

2.250%

5.384

%

03/22/29

$

445,462‌

TOTAL

SOFTWARE

&

SERVICES

5,271,715‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0.0

%

493,750

i

Ingram

Micro,

Inc

LIBOR

4

M

+

3.500%

7.174

06/30/28

482,023‌

755,472

i

TTM

Technologies,

Inc

LIBOR

12

M

+

2.500%

5.628

09/28/24

744,140‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

1,226,163‌

TELECOMMUNICATION

SERVICES

-

0.0%

470,892

i

CommScope,

Inc

LIBOR

12

M

+

3.250%

6.365

04/06/26

436,163‌

1,056,487

h,i

MLN

US

Holdco

LLC

LIBOR

4

M

+

4.500%

8.252

11/30/25

665,328‌

971,610

i

SFR

Group

S.A.

LIBOR

4

M

+

3.688%

6.200

01/31/26

884,165‌

623,553

i

Zayo

Group

Holdings,

Inc

LIBOR

12

M

+

3.000%

6.115

03/09/27

524,099‌

TOTAL

TELECOMMUNICATION

SERVICES

2,509,755‌

TRANSPORTATION

-

0.1%

249,375

i

Air

Canada

LIBOR

4

M

+

3.500%

6.421

08/11/28

237,775‌

1,439,394

i

American

Airlines,

Inc

LIBOR

12

M

+

2.000%

4.818

12/15/23

1,425,000‌

750,000

i

American

Airlines,

Inc

LIBOR

4

M

+

4.750%

7.460

04/20/28

728,625‌

310,777

i

Avis

Budget

Car

Rental

LLC

LIBOR

12

M

+

1.750%

4.870

08/06/27

294,539‌

376,200

i

CHG

Healthcare

Services,

Inc

LIBOR

12

M

+

3.250%

6.365

09/29/28

362,209‌

992,500

i

Gulf

Finance

LLC

LIBOR

12

M

+

6.750%

9.390

08/25/26

790,988‌

522,500

i

Mileage

Plus

Holdings

LLC

LIBOR

4

M

+

5.250%

8.777

06/21/27

526,139‌

1,000,000

i

XPO

Logistics,

Inc

LIBOR

12

M

+

1.750%

4.383

02/24/25

975,545‌

TOTAL

TRANSPORTATION

5,340,820‌

UTILITIES

-

0.1%

385,843

i

AssuredPartners,

Inc

LIBOR

12

M

+

3.500%

6.615

02/12/27

366,190‌

916,559

i

Calpine

Corp

LIBOR

12

M

+

2.500%

5.620

12/16/27

888,063‌

663,511

i

Covanta

Holding

Corp

LIBOR

12

M

+

2.500%

5.615

11/30/28

645,089‌

49,826

i

Covanta

Holding

Corp

LIBOR

12

M

+

2.500%

5.615

11/30/28

48,442‌

1,471,858

i

First

Eagle

Holdings,

Inc

LIBOR

4

M

+

2.500%

6.174

02/01/27

1,396,021‌

1,939,107

i

Gopher

Resource

LLC

LIBOR

12

M

+

3.250%

6.365

03/06/25

1,609,459‌

723,827

i

Seattle

SpinCo,

Inc

LIBOR

12

M

+

2.750%

5.865

06/21/24

709,803‌

579,565

i

Seattle

SpinCo,

Inc

SOFR

12M

+

4.000%

7.147

02/26/27

569,422‌

1,017,948

i

Utz

Quality

Foods

LLC

SOFR

12M

+

3.000%

6

.149

01/20/28

991,227‌

894,843

i

Vistra

Operations

Co

LLC

LIBOR

12

M

+

1.750%

4.743

12/31/25

866,320‌

TOTAL

UTILITIES

8,090,036‌

TOTAL

BANK

LOAN

OBLIGATIONS

101,831,435‌

(Cost

$109,402,260)

BONDS

-

96.1%

CORPORATE

BONDS

-

34.7%

AUTOMOBILES

&

COMPONENTS

-

0.5%

4,500,000

g

Adient

Global

Holdings

Ltd

4.875

08/15/26

3,943,935‌

225,000

Dana,

Inc

5.375

11/15/27

190,687‌

225,000

Dana,

Inc

5.625

06/15/28

185,659‌

325,000

Dana,

Inc

4.250

09/01/30

238,047‌

1,755,000

Ford

Motor

Co

3.250

02/12/32

1,264,179‌

2,635,000

Ford

Motor

Co

6.100

08/19/32

2,323,016‌

4,900,000

g

Gates

Global

LLC

6.250

01/15/26

4,508,000‌

5,550,000

General

Motors

Co

6.125

10/01/25

5,552,404‌

5,800,000

General

Motors

Co

5.400

10/15/29

5,347,871‌

1,700,000

General

Motors

Co

6.600

04/01/36

1,589,373‌

10,050,000

General

Motors

Co

5.200

04/01/45

7,652,280‌

475,000

General

Motors

Co

6.750

04/01/46

432,492‌

2,000,000

e

Goodyear

Tire

&

Rubber

Co

5.000

07/15/29

1,632,700‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

187

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

AUTOMOBILES

&

COMPONENTS—continued

$

5,000,000

e

Goodyear

Tire

&

Rubber

Co

5.250

%

04/30/31

$

4,008,108‌

3,000,000

g

Hyundai

Capital

Services,

Inc

2.125

04/24/25

2,746,767‌

500,000

g,o

IHO

Verwaltungs

GmbH

6.375

05/15/29

430,000‌

1,750,000

Magna

International,

Inc

3.625

06/15/24

1,715,735‌

2,000,000

g

Nemak

SAB

de

C.V.

3.625

06/28/31

1,347,020‌

TOTAL

AUTOMOBILES

&

COMPONENTS

45,108,273‌

BANKS

-

7.7%

2,000,000

e,g

Akbank

T.A.S.

6.800

02/06/26

1,776,431‌

1,500,000

g

Akbank

T.A.S.

6.800

06/22/31

1,216,391‌

2,995,000

g

Australia

&

New

Zealand

Banking

Group

Ltd

2.950

07/22/30

2,721,447‌

5,000,000

g

Australia

&

New

Zealand

Banking

Group

Ltd

6.750

N/A‡

4,775,250‌

3,000,000

Banco

Bilbao

Vizcaya

Argentaria

S.A.

6.500

N/A‡

2,603,430‌

2,100,000

e,g

Banco

de

Credito

del

Peru

2.700

01/11/25

1,953,285‌

4,150,000

g

Banco

de

Credito

e

Inversiones

S.A.

2.875

10/14/31

3,197,859‌

1,855,000

g

Banco

do

Brasil

S.A.

3.250

09/30/26

1,641,118‌

1,725,000

g

Banco

Industrial

S.A.

4.875

01/29/31

1,570,112‌

2,000,000

g

Banco

Internacional

del

Peru

SAA

Interbank

3.375

01/18/23

1,989,000‌

3,300,000

g

Banco

Internacional

del

Peru

SAA

Interbank

4.000

07/08/30

2,936,010‌

1,725,000

g

Banco

Nacional

de

Comercio

Exterior

SNC

2.720

08/11/31

1,482,882‌

4,000,000

Banco

Santander

S.A.

5.294

08/18/27

3,767,812‌

4,200,000

Banco

Santander

S.A.

3.800

02/23/28

3,639,553‌

2,000,000

Banco

Santander

S.A.

7.500

N/A‡

1,860,248‌

5,400,000

Banco

Santander

S.A.

4.750

N/A‡

3,733,344‌

1,825,000

Bancolombia

S.A.

4.625

12/18/29

1,533,000‌

2,500,000

g

Bangkok

Bank

PCL

4.300

06/15/27

2,401,100‌

2,600,000

g

Bangkok

Bank

PCL

3.466

09/23/36

2,010,358‌

2,500,000

g

Banistmo

S.A.

4.250

07/31/27

2,250,378‌

4,000,000

g

Bank

Hapoalim

BM

3.255

01/21/32

3,319,832‌

8,000,000

g

Bank

Leumi

Le-Israel

BM

3.275

01/29/31

6,780,000‌

32,525,000

Bank

of

America

Corp

0.810

10/24/24

30,924,740‌

10,000,000

Bank

of

America

Corp

4.000

01/22/25

9,678,976‌

1,000,000

Bank

of

America

Corp

4.450

03/03/26

963,607‌

23,880,000

Bank

of

America

Corp

2.592

04/29/31

18,938,297‌

15,000,000

Bank

of

America

Corp

1.898

07/23/31

11,169,144‌

56,165,000

Bank

of

America

Corp

1.922

10/24/31

41,545,099‌

5,000,000

Bank

of

America

Corp

2.687

04/22/32

3,903,672‌

9,300,000

Bank

of

America

Corp

2.572

10/20/32

7,112,903‌

23,300,000

Bank

of

America

Corp

2.972

02/04/33

18,214,800‌

7,200,000

Bank

of

America

Corp

3.846

03/08/37

5,808,980‌

8,925,000

Bank

of

America

Corp

2.676

06/19/41

5,764,267‌

1,150,000

Bank

of

America

Corp

4.375

N/A‡

922,875‌

5,000,000

Bank

of

America

Corp

6.250

N/A‡

4,831,250‌

11,300,000

Bank

of

America

Corp

6.100

N/A‡

10,832,293‌

7,000,000

Barclays

plc

3.932

05/07/25

6,732,141‌

600,000

Barclays

plc

2.279

11/24/27

502,512‌

4,700,000

Barclays

plc

3.330

11/24/42

2,971,861‌

3,000,000

Barclays

plc

6.125

N/A‡

2,527,800‌

5,550,000

g

BNP

Paribas

S.A.

2.819

11/19/25

5,172,773‌

5,895,000

g

BNP

Paribas

S.A.

1.904

09/30/28

4,756,809‌

2,800,000

g

BNP

Paribas

S.A.

2.588

08/12/35

1,999,992‌

12,906,000

g

BNP

Paribas

S.A.

7.375

N/A‡

12,207,568‌

3,500,000

g

CIMB

Bank

Bhd

2.125

07/20/27

3,042,935‌

4,025,000

Citigroup,

Inc

3.200

10/21/26

3,687,172‌

2,200,000

Citigroup,

Inc

4.300

11/20/26

2,081,615‌

5,975,000

Citigroup,

Inc

4.450

09/29/27

5,530,902‌

20,000,000

Citigroup,

Inc

2.572

06/03/31

15,730,362‌

18,925,000

Citigroup,

Inc

2.520

11/03/32

14,340,182‌

12,750,000

Citigroup,

Inc

4.910

05/24/33

11,729,946‌

3,000,000

Citigroup,

Inc

5.950

N/A‡

2,715,141‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

188

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

2,000,000

Citigroup,

Inc

6.300

%

N/A‡

$

1,862,576‌

4,900,000

Citigroup,

Inc

6.250

N/A‡

4,686,850‌

6,315,000

g

Cooperatieve

Rabobank

UA

1.339

06/24/26

5,596,560‌

4,175,000

Cooperatieve

Rabobank

UA

3.750

07/21/26

3,846,028‌

3,050,000

g

Credicorp

Ltd

2.750

06/17/25

2,784,639‌

12,000,000

g

Credit

Agricole

S.A.

8.125

N/A‡

11,550,480‌

1,525,000

g

DBS

Group

Holdings

Ltd

4.520

12/11/28

1,513,070‌

3,150,000

g

Development

Bank

of

Kazakhstan

JSC

2.950

05/06/31

2,453,990‌

4,200,000

Discover

Bank

2.450

09/12/24

3,972,521‌

5,400,000

Discover

Bank

3.450

07/27/26

4,915,794‌

2,275,000

Discover

Bank

2.700

02/06/30

1,785,931‌

1,675,000

g

Grupo

Aval

Ltd

4.375

02/04/30

1,213,035‌

2,160,000

g

Hana

Bank

3.500

N/A‡

1,934,078‌

4,535,000

HSBC

Holdings

plc

1.645

04/18/26

4,032,812‌

625,000

HSBC

Holdings

plc

3.900

05/25/26

585,761‌

11,915,000

HSBC

Holdings

plc

4.292

09/12/26

11,237,390‌

14,500,000

HSBC

Holdings

plc

2.251

11/22/27

12,182,738‌

1,850,000

HSBC

Holdings

plc

2.013

09/22/28

1,478,638‌

3,850,000

HSBC

Holdings

plc

3.973

05/22/30

3,258,336‌

2,430,000

HSBC

Holdings

plc

2.848

06/04/31

1,860,068‌

590,000

HSBC

Holdings

plc

6.800

06/01/38

564,199‌

360,000

Huntington

Bancshares,

Inc

4.000

05/15/25

349,045‌

2,875,000

g

ICICI

Bank

Ltd

3.800

12/14/27

2,613,117‌

8,225,000

g

ING

Groep

NV

1.400

07/01/26

7,262,549‌

400,000

ING

Groep

NV

3.950

03/29/27

367,920‌

3,000,000

ING

Groep

NV

3.875

N/A‡

1,949,550‌

3,000,000

g

Intercorp

Financial

Services,

Inc

4.125

10/19/27

2,595,541‌

8,150,000

JPMorgan

Chase

&

Co

2.301

10/15/25

7,642,851‌

1,075,000

JPMorgan

Chase

&

Co

2.005

03/13/26

984,481‌

2,500,000

JPMorgan

Chase

&

Co

3.200

06/15/26

2,320,896‌

3,525,000

JPMorgan

Chase

&

Co

4.323

04/26/28

3,303,293‌

13,000,000

JPMorgan

Chase

&

Co

4.203

07/23/29

11,829,102‌

19,405,000

JPMorgan

Chase

&

Co

3.702

05/06/30

16,940,329‌

40,560,000

JPMorgan

Chase

&

Co

1.953

02/04/32

30,003,482‌

20,500,000

JPMorgan

Chase

&

Co

2.963

01/25/33

16,114,736‌

3,275,000

JPMorgan

Chase

&

Co

2.525

11/19/41

2,044,536‌

14,550,000

JPMorgan

Chase

&

Co

3.157

04/22/42

9,962,002‌

700,000

JPMorgan

Chase

&

Co

4.260

02/22/48

552,400‌

2,500,000

i

JPMorgan

Chase

&

Co

LIBOR

3

M

+

3.320%

5.597

N/A‡

2,500,000‌

6,535,000

JPMorgan

Chase

&

Co

5.000

N/A‡

5,892,936‌

9,000,000

JPMorgan

Chase

&

Co

6.100

N/A‡

8,640,000‌

7,380,000

JPMorgan

Chase

&

Co

3.650

N/A‡

5,976,410‌

6,800,000

Lloyds

Banking

Group

plc

7.500

N/A‡

6,205,000‌

8,100,000

Lloyds

Banking

Group

plc

6.750

N/A‡

7,267,593‌

7,150,000

M&T

Bank

Corp

3.500

N/A‡

5,330,909‌

7,200,000

Mitsubishi

UFJ

Financial

Group,

Inc

2.193

02/25/25

6,678,921‌

2,070,000

Mitsubishi

UFJ

Financial

Group,

Inc

1.412

07/17/25

1,855,630‌

3,000,000

g

Mizrahi

Tefahot

Bank

Ltd

3.077

04/07/31

2,516,250‌

2,900,000

NatWest

Group

plc

5.516

09/30/28

2,752,316‌

8,000,000

g

NBK

SPC

Ltd

1.625

09/15/27

6,860,000‌

3,000,000

g

NBK

Tier  Financing

Ltd

3.625

N/A‡

2,547,156‌

5,470,000

g

Nordea

Bank

Abp

6.625

N/A‡

5,051,545‌

1,335,000

g

Oversea-Chinese

Banking

Corp

Ltd

1.832

09/10/30

1,194,425‌

4,720,000

PNC

Bank

NA

2.700

10/22/29

3,879,770‌

1,500,000

PNC

Financial

Services

Group,

Inc

3.900

04/29/24

1,478,135‌

4,105,000

PNC

Financial

Services

Group,

Inc

3.400

N/A‡

3,063,469‌

2,500,000

i

PNC

Financial

Services

Group,

Inc

LIBOR

3

M

+

3.678%

3.804

N/A‡

2,483,051‌

4,600,000

Sumitomo

Mitsui

Financial

Group,

Inc

1.474

07/08/25

4,138,430‌

5,100,000

Toronto-Dominion

Bank

4.285

09/13/24

5,023,095‌

1,300,000

Toronto-Dominion

Bank

3.625

09/15/31

1,185,023‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

189

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

5,000,000

Truist

Bank

3.689

%

08/02/24

$

4,945,674‌

1,960,000

Truist

Bank

2.250

03/11/30

1,536,292‌

1,960,000

Truist

Financial

Corp

1.200

08/05/25

1,761,823‌

7,000,000

Truist

Financial

Corp

4.950

N/A‡

6,725,530‌

4,500,000

Truist

Financial

Corp

5.100

N/A‡

3,989,878‌

1,500,000

g

Turkiye

Garanti

Bankasi

AS.

7.177

05/24/27

1,251,540‌

3,000,000

g

Turkiye

Vakiflar

Bankasi

TAO

6.500

01/08/26

2,588,015‌

1,550,000

g

Turkiye

Vakiflar

Bankasi

TAO

5.500

10/01/26

1,261,446‌

3,500,000

g

UBS

Group

AG.

3.179

02/11/43

2,254,044‌

3,000,000

g

United

Overseas

Bank

Ltd

1.250

04/14/26

2,660,505‌

1,400,000

g

United

Overseas

Bank

Ltd

3.750

04/15/29

1,363,116‌

3,700,000

g

United

Overseas

Bank

Ltd

2.000

10/14/31

3,182,046‌

1,600,000

Wells

Fargo

&

Co

3.750

01/24/24

1,575,041‌

3,425,000

Wells

Fargo

&

Co

3.550

09/29/25

3,257,117‌

9,300,000

Wells

Fargo

&

Co

3.526

03/24/28

8,423,171‌

10,475,000

Wells

Fargo

&

Co

2.393

06/02/28

8,983,337‌

8,000,000

Wells

Fargo

&

Co

5

.900

N/A‡

7,278,484‌

10,575,000

Wells

Fargo

&

Co

3.900

N/A‡

8,942,484‌

9,500,000

Wells

Fargo

&

Co

5.875

N/A‡

9,044,455‌

3,020,000

Westpac

Banking

Corp

2.668

11/15/35

2,221,579‌

TOTAL

BANKS

701,416,419‌

CAPITAL

GOODS

-

1.0%

1,354,000

Air

Lease

Corp

3.000

02/01/30

1,072,253‌

3,140,000

Air

Lease

Corp

3.125

12/01/30

2,472,349‌

2,430,000

g

Airbus

SE

3.150

04/10/27

2,245,351‌

650,000

e,g

BAE

Systems

plc

1.900

02/15/31

491,124‌

2,000,000

g

BOC

Aviation

Ltd

3.000

09/11/29

1,689,260‌

17,400,000

Boeing

Co

2.196

02/04/26

15,441,413‌

1,350,000

Boeing

Co

3.250

02/01/28

1,177,520‌

6,900,000

Boeing

Co

2.950

02/01/30

5,547,145‌

3,700,000

Boeing

Co

3.625

02/01/31

3,071,181‌

1,825,000

Boeing

Co

3.250

02/01/35

1,288,912‌

3,600,000

Boeing

Co

5.705

05/01/40

3,144,465‌

7,000,000

Boeing

Co

5.805

05/01/50

6,082,943‌

3,075,000

g

H&E

Equipment

Services,

Inc

3.875

12/15/28

2,413,875‌

500,000

Ingersoll-Rand

Global

Holding

Co

Ltd

3.750

08/21/28

464,237‌

3,750,000

Ingersoll-Rand

Luxembourg

Finance

S.A.

3.800

03/21/29

3,368,282‌

7,145,000

John

Deere

Capital

Corp

2.000

06/17/31

5,647,925‌

1,100,000

L3Harris

Technologies,

Inc

3.850

06/15/23

1,094,764‌

850,000

Lockheed

Martin

Corp

1.850

06/15/30

688,778‌

5,775,000

Northrop

Grumman

Corp

3.250

01/15/28

5,254,712‌

7,150,000

Parker-Hannifin

Corp

3.250

06/14/29

6,295,638‌

248,000

Raytheon

Technologies

Corp

3.650

08/16/23

245,592‌

10,675,000

Raytheon

Technologies

Corp

4.125

11/16/28

9,973,747‌

5,000,000

Raytheon

Technologies

Corp

4.500

06/01/42

4,275,887‌

325,000

g

Rolls-Royce

plc

5.750

10/15/27

282,344‌

3,000,000

g

TSMC

Global

Ltd

0.750

09/28/25

2,657,142‌

2,000,000

g

TSMC

Global

Ltd

1.000

09/28/27

1,636,600‌

3,000,000

g

TSMC

Global

Ltd

1.750

04/23/28

2,498,100‌

425,000

g

WESCO

Distribution,

Inc

7.250

06/15/28

416,267‌

TOTAL

CAPITAL

GOODS

90,937,806‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0.3%

1,655,000

g

ADT

Corp

4.875

07/15/32

1,334,695‌

1,000,000

AECOM

5.125

03/15/27

933,305‌

1,395,000

g

Albion

Financing

1

SARL

6.125

10/15/26

1,179,375‌

5,000,000

g

Allied

Universal

Holdco

LLC

6.625

07/15/26

4,456,250‌

325,000

g

ASGN,

Inc

4.625

05/15/28

279,679‌

925,000

g

Booz

Allen

Hamilton,

Inc

3.875

09/01/28

795,743‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

190

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES—continued

$

370,000

g

Booz

Allen

Hamilton,

Inc

4.000

%

07/01/29

$

316,558‌

150,000

g

GFL

Environmental,

Inc

4.250

06/01/25

140,673‌

1,000,000

g

GFL

Environmental,

Inc

3.750

08/01/25

915,000‌

125,000

g

GFL

Environmental,

Inc

5.125

12/15/26

116,406‌

3,150,000

g

GFL

Environmental,

Inc

3.500

09/01/28

2,656,426‌

2,125,000

g

Prime

Security

Services

Borrower

LLC

5.750

04/15/26

1,999,498‌

1,300,000

g

Prime

Security

Services

Borrower

LLC

3.375

08/31/27

1,092,221‌

2,655,000

g

Prime

Security

Services

Borrower

LLC

6.250

01/15/28

2,265,701‌

2,225,000

Republic

Services,

Inc

2.900

07/01/26

2,043,986‌

100,000

g

Ritchie

Bros

Auctioneers,

Inc

5.375

01/15/25

98,097‌

420,000

Verisk

Analytics,

Inc

3.625

05/15/50

286,378‌

1,325,000

g

WASH

Multifamily

Acquisition,

Inc

5.750

04/15/26

1,221,524‌

1,235,000

Waste

Management,

Inc

1.500

03/15/31

936,318‌

1,500,000

Waste

Management,

Inc

2.500

11/15/50

913,473‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

23,981,306‌

CONSUMER

DURABLES

&

APPAREL

-

0.2%

5,000,000

Lennar

Corp

5.000

06/15/27

4,753,448‌

5,000,000

Lennar

Corp

4.750

11/29/27

4,616,500‌

219,000

Newell

Brands,

Inc

4.875

06/01/25

211,707‌

1,175,000

e

Newell

Brands,

Inc

6.375

09/15/27

1,163,520‌

5,000,000

PulteGroup,

Inc

5.000

01/15/27

4,848,957‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

15,594,132‌

CONSUMER

SERVICES

-

0.5%

16,500,000

Anheuser-Busch

Cos

LLC

3.650

02/01/26

15,849,410‌

5,000,000

Anheuser-Busch

Cos

LLC

4.700

02/01/36

4,506,212‌

8,910,000

Anheuser-Busch

Cos

LLC

4.900

02/01/46

7,743,503‌

1,100,000

g

Cedar

Fair

LP

5.500

05/01/25

1,058,123‌

2,300,000

g

ENA

Master

Trust

4.000

05/19/48

1,708,900‌

125,000

g

Hilton

Domestic

Operating

Co,

Inc

5.750

05/01/28

116,875‌

2,200,000

g

Hilton

Domestic

Operating

Co,

Inc

3.625

02/15/32

1,684,977‌

8,800,000

Hyatt

Hotels

Corp

1.300

10/01/23

8,464,544‌

400,000

g

International

Game

Technology

plc

4.125

04/15/26

365,584‌

540,000

g

International

Game

Technology

plc

6.250

01/15/27

522,509‌

425,000

g

Marriott

Ownership

Resorts,

Inc

4.500

06/15/29

335,880‌

3,550,000

McDonald's

Corp

4.600

09/09/32

3,391,535‌

2,335,000

Sands

China

Ltd

2.800

03/08/27

1,855,321‌

1,400,000

Sands

China

Ltd

5.400

08/08/28

1,176,714‌

1,175,000

g

Wynn

Macau

Ltd

5.625

08/26/28

782,691‌

TOTAL

CONSUMER

SERVICES

49,562,778‌

DIVERSIFIED

FINANCIALS

-

3.4%

4,900,000

AerCap

Ireland

Capital

DAC

3.500

01/15/25

4,604,734‌

9,050,000

AerCap

Ireland

Capital

DAC

1.750

01/30/26

7,739,505‌

12,175,000

AerCap

Ireland

Capital

DAC

2.450

10/29/26

10,270,912‌

5,000,000

AerCap

Ireland

Capital

DAC

3.875

01/23/28

4,315,510‌

1,350,000

AerCap

Ireland

Capital

DAC

3.000

10/29/28

1,082,654‌

2,050,000

AerCap

Ireland

Capital

DAC

3.300

01/30/32

1,541,740‌

1,250,000

AerCap

Ireland

Capital

DAC

3.850

10/29/41

830,320‌

710,000

American

Express

Co

2.650

12/02/22

708,415‌

1,250,000

American

Express

Co

3.700

08/03/23

1,242,012‌

2,000,000

American

Express

Co

2.550

03/04/27

1,781,418‌

3,000,000

g

B3

S.A.-Brasil

Bolsa

Balcao

4.125

09/20/31

2,348,348‌

2,500,000

g

Banco

BTG

Pactual

S.A.

2.750

01/11/26

2,170,000‌

5,705,000

Bank

of

New

York

Mellon

Corp

4.700

N/A‡

5,462,537‌

455,000

g

BBVA

Bancomer

S.A.

5.350

11/12/29

427,502‌

3,350,000

g

BBVA

Bancomer

S.A.

5.125

01/18/33

2,772,169‌

7,868,000

Capital

One

Bank

USA

NA

3.375

02/15/23

7,835,557‌

2,490,000

Capital

One

Financial

Corp

3.750

03/09/27

2,292,294‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

191

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

5,490,000

e

Capital

One

Financial

Corp

3.950

%

N/A‡

$

4,309,650‌

10,800,000

Charles

Schwab

Corp

5.375

N/A‡

10,503,000‌

600,000

g

Compass

Group

Diversified

Holdings

LLC

5.250

04/15/29

470,838‌

8,325,000

g

Credit

Suisse

Group

AG.

2.193

06/05/26

7,238,493‌

4,950,000

g

Credit

Suisse

Group

AG.

1.305

02/02/27

4,018,014‌

4,600,000

g

Credit

Suisse

Group

AG.

6.442

08/11/28

4,277,766‌

3,950,000

Credit

Suisse

Group

Funding

Guernsey

Ltd

3.800

06/09/23

3,886,943‌

1,650,000

Credit

Suisse

Group

Funding

Guernsey

Ltd

3.750

03/26/25

1,537,062‌

4,050,000

Deutsche

Bank

AG.

5.371

09/09/27

3,908,822‌

3,750,000

Deutsche

Bank

AG.

2.311

11/16/27

3,041,862‌

5,000,000

Ford

Motor

Credit

Co

LLC

3.664

09/08/24

4,700,000‌

1,400,000

Ford

Motor

Credit

Co

LLC

4.000

11/13/30

1,092,000‌

2,000,000

Ford

Motor

Credit

Co

LLC

3.625

06/17/31

1,485,900‌

11,543,000

GE

Capital

International

Funding

Co

4.418

11/15/35

10,341,616‌

4,390,000

General

Motors

Financial

Co,

Inc

2.750

06/20/25

4,043,813‌

10,900,000

General

Motors

Financial

Co,

Inc

5.000

04/09/27

10,332,208‌

25,250,000

General

Motors

Financial

Co,

Inc

2.700

06/10/31

18,535,628‌

3,450,000

General

Motors

Financial

Co,

Inc

5.700

N/A‡

2,957,058‌

2,000,000

e

General

Motors

Financial

Co,

Inc

5.750

N/A‡

1,622,432‌

11,270,000

Goldman

Sachs

Group,

Inc

3.625

02/20/24

11,073,537‌

5,277,000

Goldman

Sachs

Group,

Inc

3.500

04/01/25

5,040,606‌

5,875,000

Goldman

Sachs

Group,

Inc

1

.093

12/09/26

5,069,685‌

19,600,000

Goldman

Sachs

Group,

Inc

4.482

08/23/28

18,394,533‌

7,410,000

Goldman

Sachs

Group,

Inc

1.992

01/27/32

5,478,298‌

7,300,000

Goldman

Sachs

Group,

Inc

2.615

04/22/32

5,658,434‌

360,000

Goldman

Sachs

Group,

Inc

6.750

10/01/37

358,806‌

1,900,000

Goldman

Sachs

Group,

Inc

4.017

10/31/38

1,500,658‌

4,875,000

Goldman

Sachs

Group,

Inc

3.210

04/22/42

3,302,892‌

725,000

Goldman

Sachs

Group,

Inc

3.436

02/24/43

502,023‌

500,000

Icahn

Enterprises

LP

4.750

09/15/24

467,780‌

925,000

Icahn

Enterprises

LP

5.250

05/15/27

809,847‌

3,800,000

Icahn

Enterprises

LP

4.375

02/01/29

3,058,544‌

1,100,000

g

Indian

Railway

Finance

Corp

Ltd

3.249

02/13/30

899,050‌

7,400,000

g

Indian

Railway

Finance

Corp

Ltd

2.800

02/10/31

5,649,515‌

475,000

Legg

Mason,

Inc

3.950

07/15/24

466,359‌

3,425,000

g

LPL

Holdings,

Inc

4.000

03/15/29

2,937,554‌

2,500,000

g

Minejesa

Capital

BV

5.625

08/10/37

1,787,500‌

1,040,000

Morgan

Stanley

4.000

07/23/25

1,006,611‌

4,444,000

Morgan

Stanley

2.188

04/28/26

4,076,378‌

11,950,000

Morgan

Stanley

3.125

07/27/26

11,003,725‌

2,720,000

Morgan

Stanley

0.985

12/10/26

2,345,422‌

685,000

Morgan

Stanley

3.950

04/23/27

636,559‌

9,875,000

Morgan

Stanley

1.512

07/20/27

8,410,402‌

15,120,000

Morgan

Stanley

2.699

01/22/31

12,258,850‌

1,905,000

Morgan

Stanley

1.794

02/13/32

1,392,214‌

75,000

Morgan

Stanley

1.928

04/28/32

54,753‌

5,000,000

Navient

Corp

5.000

03/15/27

4,089,559‌

2,000,000

Northern

Trust

Corp

4.600

N/A‡

1,783,679‌

1,345,000

OneMain

Finance

Corp

3.500

01/15/27

1,047,718‌

5,000,000

e

OneMain

Finance

Corp

4.000

09/15/30

3,508,550‌

2,975,000

g

Power

Finance

Corp

Ltd

3.950

04/23/30

2,483,857‌

1,625,000

g

REC

Ltd

4.750

05/19/23

1,618,647‌

1,375,000

e,g

S&P

Global,

Inc

4.250

05/01/29

1,291,515‌

2,070,000

g

Societe

Generale

S.A.

1.375

07/08/25

1,848,946‌

3,500,000

g

Societe

Generale

S.A.

4.027

01/21/43

2,168,141‌

550,000

Springleaf

Finance

Corp

5.375

11/15/29

426,250‌

550,000

State

Street

Corp

3.300

12/16/24

534,730‌

11,300,000

g

Swiss

Re

Finance

Luxembourg

SA

5.000

04/02/49

9,887,500‌

6,500,000

g

UBS

Group

AG

7.000

N/A‡

6,150,300‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

192

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

650,000

Voya

Financial,

Inc

5.700

%

07/15/43

$

583,676‌

TOTAL

DIVERSIFIED

FINANCIALS

306,792,335‌

ENERGY

-

3.2%

2,500,000

g

Antero

Midstream

Partners

LP

5.750

01/15/28

2,275,000‌

1,875,000

g

Archrock

Partners

LP

6.250

04/01/28

1,648,116‌

2,770,000

Canadian

Natural

Resources

Ltd

2.950

07/15/30

2,279,105‌

875,000

Cenovus

Energy,

Inc

2.650

01/15/32

674,353‌

3,980,000

Cenovus

Energy,

Inc

5.400

06/15/47

3,407,103‌

2,000,000

g

Cosan

Ltd

5.500

09/20/29

1,804,000‌

3,750,000

Diamondback

Energy,

Inc

3.125

03/24/31

3,041,743‌

2,625,000

Diamondback

Energy,

Inc

4.250

03/15/52

1,916,337‌

1,790,000

g

DT

Midstream,

Inc

4.125

06/15/29

1,512,550‌

1,490,000

g

DT

Midstream,

Inc

4.375

06/15/31

1,228,833‌

5,000,000

Ecopetrol

S.A.

5.375

06/26/26

4,520,000‌

1,050,000

Ecopetrol

S.A.

6.875

04/29/30

881,908‌

2,275,000

Ecopetrol

S.A.

4.625

11/02/31

1,592,500‌

2,675,000

g

Empresa

Nacional

del

Petroleo

3.450

09/16/31

2,093,187‌

1,960,000

e

Enbridge,

Inc

2.500

08/01/33

1,467,802‌

10,350,000

Enbridge,

Inc

5.750

07/15/80

9,105,412‌

2,424,000

g

Energean

Israel

Finance

Ltd

4.875

03/30/26

2,134,192‌

2,440,000

Energy

Transfer

Operating

LP

2.900

05/15/25

2,274,316‌

2,675,000

Energy

Transfer

Operating

LP

4.750

01/15/26

2,577,323‌

1,670,000

Energy

Transfer

Operating

LP

5.500

06/01/27

1,626,740‌

8,000,000

Energy

Transfer

Operating

LP

5.250

04/15/29

7,523,644‌

1,235,000

Energy

Transfer

Operating

LP

3.750

05/15/30

1,045,751‌

4,100,000

Energy

Transfer

Operating

LP

6.250

04/15/49

3,637,219‌

4,625,000

Energy

Transfer

Operating

LP

5.000

05/15/50

3,614,891‌

500,000

g

EnLink

Midstream

LLC

5.625

01/15/28

467,500‌

745,000

g

EnLink

Midstream

LLC

6.500

09/01/30

727,492‌

1,250,000

Enterprise

Products

Operating

LLC

3.700

02/15/26

1,192,520‌

3,707,000

Enterprise

Products

Operating

LLC

3.125

07/31/29

3,193,083‌

900,000

Enterprise

Products

Operating

LLC

2.800

01/31/30

751,582‌

1,425,000

Enterprise

Products

Operating

LLC

4.250

02/15/48

1,098,968‌

2,300,000

Enterprise

Products

Operating

LLC

4.200

01/31/50

1,756,305‌

7,350,000

Enterprise

Products

Operating

LLC

3.700

01/31/51

5,168,123‌

4,575,000

Enterprise

Products

Operating

LLC

3.200

02/15/52

2,919,965‌

6,575,000

Enterprise

Products

Operating

LLC

3.300

02/15/53

4,277,487‌

276,000

g

EQM

Midstream

Partners

LP

6.000

07/01/25

255,198‌

1,900,000

g

EQM

Midstream

Partners

LP

4.500

01/15/29

1,530,788‌

850,000

g

EQT

Corp

3.125

05/15/26

774,104‌

3,082,025

g

Galaxy

Pipeline

Assets

Bidco

Ltd

2.160

03/31/34

2,520,564‌

2,750,000

g

Galaxy

Pipeline

Assets

Bidco

Ltd

2.625

03/31/36

2,113,768‌

1,100,000

Genesis

Energy

LP

6.500

10/01/25

994,509‌

1,450,000

g

Hilcorp

Energy

I

LP

5.750

02/01/29

1,267,684‌

1,450,000

g

Hilcorp

Energy

I

LP

6.000

02/01/31

1,256,260‌

475,000

g

Holly

Energy

Partners

LP

6.375

04/15/27

453,625‌

1,200,000

g

KazMunayGas

National

Co

JSC

5.375

04/24/30

940,464‌

3,500,000

g

KazMunayGas

National

Co

JSC

3.500

04/14/33

2,291,030‌

3,700,000

Kinder

Morgan

Energy

Partners

LP

5.800

03/15/35

3,447,927‌

1,250,000

Kinder

Morgan

Energy

Partners

LP

5.400

09/01/44

1,058,990‌

1,325,000

g

Kosmos

Energy

Ltd

7.750

05/01/27

1,053,375‌

2,525,000

g

Leviathan

Bond

Ltd

6.125

06/30/25

2,369,721‌

5,000,000

Marathon

Petroleum

Corp

4.700

05/01/25

4,909,077‌

13,040,000

Marathon

Petroleum

Corp

3.800

04/01/28

11,667,626‌

1,000,000

Marathon

Petroleum

Corp

4.750

09/15/44

802,174‌

2,750,000

Marathon

Petroleum

Corp

5

.000

09/15/54

2,211,327‌

5,000,000

g

MEG

Energy

Corp

5.875

02/01/29

4,487,500‌

4,475,000

MPLX

LP

1.750

03/01/26

3,915,543‌

16,235,000

MPLX

LP

2.650

08/15/30

12,718,875‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

193

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

2,935,000

MPLX

LP

4.700

%

04/15/48

$

2,236,188‌

642,000

Murphy

Oil

Corp

5.875

12/01/27

600,103‌

1,200,000

†,q

NAK

Naftogaz

Ukraine

via

Kondor

Finance

plc

7.375

07/19/24

288,000‌

7,735,000

g

Northern

Natural

Gas

Co

3.400

10/16/51

5,101,695‌

325,000

Occidental

Petroleum

Corp

5.500

12/01/25

326,625‌

475,000

Occidental

Petroleum

Corp

5.550

03/15/26

475,541‌

5,000,000

e

Occidental

Petroleum

Corp

3.500

08/15/29

4,568,300‌

1,450,000

g

Oleoducto

Central

S.A.

4.000

07/14/27

1,118,277‌

1,025,000

ONEOK,

Inc

4.000

07/13/27

940,567‌

6,030,000

ONEOK,

Inc

4.550

07/15/28

5,520,550‌

7,750,000

ONEOK,

Inc

4.350

03/15/29

6,932,961‌

3,920,000

ONEOK,

Inc

3.400

09/01/29

3,288,353‌

7,750,000

ONEOK,

Inc

4.500

03/15/50

5,604,595‌

2,000,000

g

Parkland

Corp

4.500

10/01/29

1,614,641‌

1,260,000

g

Parkland

Corp

4.625

05/01/30

1,021,451‌

6,200,000

g

Pertamina

Persero

PT

1.400

02/09/26

5,320,501‌

850,000

g

Pertamina

Persero

PT

3.650

07/30/29

732,211‌

1,667,000

Petrobras

Global

Finance

BV

5.999

01/27/28

1,607,561‌

2,000,000

Petrobras

Global

Finance

BV

6.900

03/19/49

1,663,600‌

767,000

g

Petroleos

del

Peru

S.A.

4.750

06/19/32

541,885‌

2,700,000

Petroleos

Mexicanos

5.950

01/28/31

1,823,580‌

6,244,000

Petroleos

Mexicanos

6.700

02/16/32

4,380,947‌

3,000,000

Petroleos

Mexicanos

7.690

01/23/50

1,837,200‌

2,950,000

g

Petronas

Energy

Canada

Ltd

2.112

03/23/28

2,541,511‌

15,790,000

Phillips

66

2.150

12/15/30

12,165,599‌

2,400,000

Phillips

66

3.300

03/15/52

1,571,095‌

860,000

g

Phillips

66

Co

3.150

12/15/29

726,429‌

775,000

g

Phillips

66

Co

4.680

02/15/45

638,664‌

5,300,000

g

Qatar

Petroleum

2.250

07/12/31

4,247,823‌

654,000

Regency

Energy

Partners

LP

4.500

11/01/23

648,265‌

1,150,000

g

S.A.

Global

Sukuk

Ltd

0.946

06/17/24

1,071,678‌

270,000

Sabine

Pass

Liquefaction

LLC

5.875

06/30/26

270,210‌

6,125,000

Sabine

Pass

Liquefaction

LLC

4.200

03/15/28

5,585,743‌

11,115,000

Sabine

Pass

Liquefaction

LLC

4.500

05/15/30

10,125,426‌

1,825,000

g

Santos

Finance

Ltd

3.649

04/29/31

1,418,238‌

3,175,000

g

Saudi

Arabian

Oil

Co

2.250

11/24/30

2,556,033‌

1,365,000

Shell

International

Finance

BV

3.125

11/07/49

934,218‌

1,975,000

Sunoco

Logistics

Partners

Operations

LP

4.000

10/01/27

1,791,142‌

450,000

Sunoco

Logistics

Partners

Operations

LP

5.400

10/01/47

364,354‌

1,150,000

Sunoco

LP

4.500

05/15/29

953,983‌

2,525,000

Targa

Resources

Corp

4.200

02/01/33

2,102,815‌

2,500,000

Targa

Resources

Corp

4.950

04/15/52

1,923,505‌

300,000

Targa

Resources

Partners

LP

6.500

07/15/27

296,501‌

1,000,000

Targa

Resources

Partners

LP

4.000

01/15/32

824,705‌

4,000,000

g

Thaioil

Treasury

Center

Co

Ltd

2.500

06/18/30

3,124,480‌

1,450,000

Total

Capital

International

S.A.

2.986

06/29/41

1,033,593‌

5,550,000

Total

Capital

International

S.A.

3.127

05/29/50

3,832,498‌

8,245,000

TransCanada

PipeLines

Ltd

4.250

05/15/28

7,632,617‌

7,000,000

TransCanada

PipeLines

Ltd

2.500

10/12/31

5,385,659‌

7,835,000

TransCanada

Trust

5.500

09/15/79

6,777,275‌

887,000

g

Tullow

Oil

plc

10.250

05/15/26

749,515‌

1,260,000

USA

Compression

Partners

LP

6.875

04/01/26

1,159,200‌

500,000

USA

Compression

Partners

LP

6.875

09/01/27

454,413‌

7,050,000

Williams

Cos,

Inc

2.600

03/15/31

5,527,911‌

850,000

Williams

Partners

LP

3.750

06/15/27

784,055‌

TOTAL

ENERGY

295,239,664‌

FOOD

&

STAPLES

RETAILING

-

0.2%

3,975,000

Costco

Wholesale

Corp

1.600

04/20/30

3,187,265‌

3,000,000

Kroger

Co

3.875

10/15/46

2,281,297‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

194

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOOD

&

STAPLES

RETAILING—continued

$

730,000

SYSCO

Corp

3.750

%

10/01/25

$

702,580‌

3,700,000

SYSCO

Corp

3.150

12/14/51

2,338,795‌

3,600,000

Walmart,

Inc

1.050

09/17/26

3,141,180‌

294,000

Walmart,

Inc

2.375

09/24/29

252,255‌

5,155,000

Walmart,

Inc

1.800

09/22/31

4,095,489‌

3,900,000

Walmart,

Inc

2.500

09/22/41

2,717,952‌

TOTAL

FOOD

&

STAPLES

RETAILING

18,716,813‌

FOOD,

BEVERAGE

&

TOBACCO

-

1.0%

3,100,000

g

Anadolu

Efes

Biracilik

Ve

Malt

Sanayii

AS.

3

.375

06/29/28

2,199,999‌

10,260,000

Anheuser-Busch

InBev

Worldwide,

Inc

4.750

01/23/29

9,994,868‌

1,260,000

Anheuser-Busch

InBev

Worldwide,

Inc

4.439

10/06/48

1,022,142‌

3,150,000

BAT

Capital

Corp

2.259

03/25/28

2,505,505‌

6,075,000

BAT

Capital

Corp

4.906

04/02/30

5,363,878‌

12,520,000

BAT

Capital

Corp

2.726

03/25/31

9,317,544‌

1,850,000

BAT

Capital

Corp

4.742

03/16/32

1,547,598‌

7,200,000

BAT

International

Finance

plc

4

.448

03/16/28

6,417,055‌

1,775,000

g

BRF

S.A.

4.875

01/24/30

1,395,971‌

2,000,000

g

BRF

S.A.

5.750

09/21/50

1,378,074‌

3,250,000

g

Cia

Cervecerias

Unidas

S.A.

3.350

01/19/32

2,742,187‌

1,830,000

g

CNTL

AMR

BOTTLING

CORP

5.250

04/27/29

1,587,525‌

3,000,000

g

Coca-Cola

Icecek

AS.

4.500

01/20/29

2,453,111‌

750,000

Constellation

Brands,

Inc

4.400

11/15/25

734,283‌

2,775,000

Constellation

Brands,

Inc

3.700

12/06/26

2,607,637‌

1,150,000

Constellation

Brands,

Inc

3.150

08/01/29

987,904‌

4,540,000

Constellation

Brands,

Inc

2.875

05/01/30

3,765,692‌

13,700,000

Constellation

Brands,

Inc

2.250

08/01/31

10,524,043‌

2,750,000

Diageo

Capital

plc

2.125

10/24/24

2,611,035‌

2,320,000

Diageo

Capital

plc

1.375

09/29/25

2,103,521‌

4,075,000

Diageo

Capital

plc

2.375

10/24/29

3,407,942‌

1,950,000

Diageo

Capital

plc

2.000

04/29/30

1,562,546‌

1,875,000

g

Embotelladora

Andina

S.A.

3.950

01/21/50

1,396,365‌

2,000,000

g

Grupo

Bimbo

SAB

de

C.V.

4.700

11/10/47

1,663,540‌

2,000,000

g

NBM

US

Holdings,

Inc

6.625

08/06/29

1,824,753‌

200,000

Philip

Morris

International,

Inc

6.375

05/16/38

189,300‌

5,500,000

g

Primo

Water

Holdings,

Inc

4.375

04/30/29

4,473,870‌

3,250,000

g

Sigma

Alimentos

S.A.

de

C.V.

4.125

05/02/26

2,923,375‌

6,325,000

g

Ulker

Biskuvi

Sanayi

AS.

6.950

10/30/25

4,319,975‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

93,021,238‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

1.5%

1,200,000

Abbott

Laboratories

5.300

05/27/40

1,199,262‌

980,000

Advocate

Health

&

Hospitals

Corp

3.008

06/15/50

657,184‌

9,160,000

Anthem,

Inc

2.250

05/15/30

7,389,187‌

2,100,000

Boston

Scientific

Corp

2.650

06/01/30

1,742,449‌

1,640,000

Centene

Corp

2.450

07/15/28

1,335,321‌

8,310,000

Centene

Corp

3.000

10/15/30

6,581,021‌

1,800,000

Children's

Hospital

Medic

4.268

05/15/44

1,567,052‌

6,250,000

g

CHS/Community

Health

Systems,

Inc

5.250

05/15/30

4,351,563‌

2,550,000

Cigna

Corp

3.200

03/15/40

1,833,165‌

495,000

CVS

Health

Corp

3.875

07/20/25

480,081‌

11,250,000

CVS

Health

Corp

3.750

04/01/30

10,004,006‌

27,225,000

CVS

Health

Corp

1.750

08/21/30

20,839,008‌

9,180,000

CVS

Health

Corp

1.875

02/28/31

6,992,635‌

2,250,000

CVS

Health

Corp

4.780

03/25/38

1,972,579‌

3,635,000

CVS

Health

Corp

2.700

08/21/40

2,386,129‌

4,750,000

CVS

Health

Corp

5.050

03/25/48

4,183,146‌

1,900,000

CVS

Health

Corp

4.250

04/01/50

1,487,027‌

1,370,000

Dartmouth-Hitchcock

Health

4.178

08/01/48

1,106,230‌

425,000

Hackensack

Meridian

Health,

Inc

2.875

09/01/50

277,238‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

195

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

$

1,000,000

HCA,

Inc

5.375

%

02/01/25

$

988,174‌

2,815,000

HCA,

Inc

5

.625

09/01/28

2,682,463‌

5,000,000

HCA,

Inc

3.500

09/01/30

4,128,600‌

3,475,000

g

HCA,

Inc

3.625

03/15/32

2,811,404‌

1,900,000

HCA,

Inc

5.500

06/15/47

1,605,110‌

4,600,000

g

HCA,

Inc

4.625

03/15/52

3,455,073‌

3,500,000

g

Hologic,

Inc

3.250

02/15/29

2,862,257‌

1,875,000

Humana,

Inc

3.950

03/15/27

1,757,864‌

10,100,000

Humana,

Inc

2.150

02/03/32

7,674,829‌

3,490,000

g

LifePoint

Health,

Inc

4.375

02/15/27

2,883,897‌

3,700,000

g

MPH

Acquisition

Holdings

LLC

5.500

09/01/28

3,054,110‌

3,375,000

MPT

Operating

Partnership

LP

3.500

03/15/31

2,349,844‌

225,000

g

Tenet

Healthcare

Corp

4.625

06/15/28

196,642‌

5,400,000

g

Tenet

Healthcare

Corp

6.125

10/01/28

4,730,880‌

2,500,000

g

Tenet

Healthcare

Corp

4.250

06/01/29

2,070,625‌

3,200,000

g

Tenet

Healthcare

Corp

4.375

01/15/30

2,671,040‌

1,525,000

UnitedHealth

Group,

Inc

2.950

10/15/27

1,391,142‌

3,700,000

UnitedHealth

Group,

Inc

2.000

05/15/30

2,976,389‌

6,185,000

UnitedHealth

Group,

Inc

2.300

05/15/31

4,975,765‌

1,375,000

UnitedHealth

Group,

Inc

3.750

10/15/47

1,055,856‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

132,706,247‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0.1%

1,425,000

Church

&

Dwight

Co,

Inc

2.300

12/15/31

1,118,501‌

3,100,000

Church

&

Dwight

Co,

Inc

5.000

06/15/52

2,856,115‌

900,000

Colgate-Palmolive

Co

3.250

08/15/32

802,015‌

3,300,000

g

GSK

Consumer

Healthcare

Capital

US

LLC

3.375

03/24/27

2,992,777‌

5,300,000

g

GSK

Consumer

Healthcare

Capital

US

LLC

3.625

03/24/32

4,494,794‌

2,250,000

g

Natura

Cosmeticos

S.A.

4.125

05/03/28

1,777,500‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

14,041,702‌

INSURANCE

-

1.0%

1,550,000

g

Acrisure

LLC

4.250

02/15/29

1,214,704‌

285,000

Aetna,

Inc

6.625

06/15/36

290,603‌

131,000

Aflac,

Inc

6.450

08/15/40

134,538‌

3,000,000

g

AIA

Group

Ltd

3.600

04/09/29

2,740,654‌

825,000

g

Alliant

Holdings

Intermediate

LLC

4.250

10/15/27

704,697‌

325,000

g

AmWINS

Group,

Inc

4.875

06/30/29

269,770‌

11,160,000

Aon

Corp

2.800

05/15/30

9,252,737‌

2,790,000

Aon

plc

3.500

06/14/24

2,721,601‌

4,500,000

AXIS

Specialty

Finance

LLC

4.900

01/15/40

3,656,250‌

825,000

Berkshire

Hathaway

Finance

Corp

2.875

03/15/32

693,483‌

1,500,000

Berkshire

Hathaway

Finance

Corp

4.250

01/15/49

1,246,578‌

9,950,000

Berkshire

Hathaway

Finance

Corp

2.850

10/15/50

6,392,957‌

1,100,000

CNA

Financial

Corp

3.950

05/15/24

1,078,751‌

925,000

g

Equitable

Financial

Life

Global

Funding

1.400

07/07/25

833,029‌

870,000

g

Equitable

Financial

Life

Global

Funding

1.800

03/08/28

726,748‌

2,300,000

g

Five

Corners

Funding

Trust

4.419

11/15/23

2,278,443‌

8,225,000

g

Five

Corners

Funding

Trust

II

2.850

05/15/30

6,770,100‌

2,500,000

g

Hanwha

Life

Insurance

Co

Ltd

3.379

02/04/32

2,089,267‌

15,431,000

Hartford

Financial

Services

Group,

Inc

2.800

08/19/29

13,017,733‌

350,000

Hartford

Financial

Services

Group,

Inc

4.300

04/15/43

278,462‌

1,400,000

Hartford

Financial

Services

Group,

Inc

2.900

09/15/51

855,149‌

1,450,000

g

Liberty

Mutual

Group,

Inc

3.951

10/15/50

975,589‌

2,900,000

g

Liberty

Mutual

Group,

Inc

5.500

06/15/52

2,499,751‌

600,000

MetLife,

Inc

3.000

03/01/25

579,507‌

1,775,000

MetLife,

Inc

3.600

11/13/25

1,709,045‌

1,025,000

MetLife,

Inc

5.000

07/15/52

934,351‌

5,870,000

MetLife,

Inc

3.850

N/A‡

5,251,272‌

10,175,000

PartnerRe

Finance

B

LLC

4.500

10/01/50

8,535,222‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

196

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

INSURANCE—continued

$

3,500,000

Principal

Financial

Group,

Inc

2.125

%

06/15/30

$

2,737,430‌

3,700,000

g

Protective

Life

Global

Funding

0.781

07/05/24

3,421,067‌

2,000,000

Prudential

Financial,

Inc

3.905

12/07/47

1,519,967‌

2,220,000

Reinsurance

Group

of

America,

Inc

3.900

05/15/29

1,977,686‌

525,000

g

Swiss

Re

Treasury

US

Corp

4.250

12/06/42

445,109‌

365,000

Willis

North

America,

Inc

3.600

05/15/24

354,385‌

TOTAL

INSURANCE

88,186,635‌

MATERIALS

-

1.4%

4,375,000

e

Albemarle

Corp

4.650

06/01/27

4,193,630‌

1,625,000

g

Alpek

SAB

de

C.V.

4.250

09/18/29

1,343,079‌

7,535,000

Amcor

Flexibles

North

America,

Inc

2.690

05/25/31

5,892,828‌

1,425,000

g

Anglo

American

Capital

plc

3.875

03/16/29

1,224,523‌

2,300,000

g

Anglo

American

Capital

plc

2.625

09/10/30

1,770,394‌

4,300,000

AngloGold

Ashanti

Holdings

plc

3.375

11/01/28

3,486,779‌

7,125,000

AngloGold

Ashanti

Holdings

plc

3.750

10/01/30

5,522,708‌

1,778,000

e,g

Antofagasta

plc

2.375

10/14/30

1,328,877‌

1,600,000

e,g

Antofagasta

plc

5.625

05/13/32

1,478,000‌

3,225,000

g

Ardagh

Metal

Packaging

Finance

USA

LLC

3.250

09/01/28

2,631,471‌

1,850,000

Ball

Corp

2.875

08/15/30

1,419,773‌

370,000

Bemis

Co,

Inc

3.100

09/15/26

340,828‌

2,725,000

Bemis

Co,

Inc

2.630

06/19/30

2,189,315‌

10,105,000

Berry

Global,

Inc

1.570

01/15/26

8,809,797‌

6,100,000

Berry

Global,

Inc

1.650

01/15/27

5,058,165‌

1,140,000

g

CANPACK

S.A.

3.125

11/01/25

991,430‌

2,500,000

g

Celulosa

Arauco

y

Constitucion

S.A.

4.250

04/30/29

2,071,400‌

1,325,000

g

Celulosa

Arauco

y

Constitucion

S.A.

4.200

01/29/30

1,086,500‌

1,325,000

g

Cemex

SAB

de

C.V.

5.450

11/19/29

1,184,219‌

1,500,000

Commercial

Metals

Co

4.125

01/15/30

1,231,524‌

2,725,000

e,g

Constellium

SE

3.750

04/15/29

1,989,471‌

3,000,000

g

Corp

Nacional

del

Cobre

de

Chile

3.000

09/30/29

2,511,779‌

2,000,000

g

Corp

Nacional

del

Cobre

de

Chile

3.150

01/14/30

1,667,580‌

1,500,000

g

Corp

Nacional

del

Cobre

de

Chile

3.150

01/15/51

921,122‌

265,000

DowDuPont,

Inc

4.493

11/15/25

260,298‌

1,140,000

DowDuPont,

Inc

4.725

11/15/28

1,084,102‌

5,000,000

g

FMG

Resources

August

2006

Pty

Ltd

5.875

04/15/30

4,349,099‌

800,000

g

Freeport

Indonesia

PT

4.763

04/14/27

720,232‌

1,860,000

g

Freeport

Indonesia

PT

5.315

04/14/32

1,539,150‌

2,400,000

Freeport-McMoRan,

Inc

5.450

03/15/43

2,002,320‌

1,500,000

e,g

Fresnillo

plc

4.250

10/02/50

1,031,250‌

1,975,000

g

GCC

SAB

de

C.V.

3.614

04/20/32

1,597,261‌

1,250,000

g

Gold

Fields

Orogen

Holdings

BVI

Ltd

6.125

05/15/29

1,174,096‌

187,000

e

International

Paper

Co

4.350

08/15/48

148,740‌

3,000,000

g

Inversiones

CMPC

S.A.

4.375

04/04/27

2,715,000‌

4,900,000

g

Inversiones

CMPC

S.A.

3.000

04/06/31

3,640,841‌

675,000

g

James

Hardie

International

Finance

DAC

5.000

01/15/28

609,599‌

710,000

g

Midwest

Connector

Capital

Co

LLC

4.625

04/01/29

633,500‌

1,600,000

Mosaic

Co

4.875

11/15/41

1,295,044‌

3,390,000

Newmont

Corp

2.600

07/15/32

2,584,693‌

2,900,000

g

Nova

Chemicals

Corp

4.875

06/01/24

2,724,898‌

6,350,000

Nutrien

Ltd

2.950

05/13/30

5,307,631‌

1,920,000

g

OCI

NV

4.625

10/15/25

1,783,650‌

1,600,000

g

OCP

S.A.

3.750

06/23/31

1,207,563‌

2,300,000

g

Orbia

Advance

Corp

SAB

de

C.V.

1.875

05/11/26

1,943,500‌

480,000

Packaging

Corp

of

America

3.650

09/15/24

468,211‌

375,000

g

PolyOne

Corp

5.750

05/15/25

361,856‌

2,250,000

Sasol

Financing

USA

LLC

4.375

09/18/26

1,963,092‌

2,000,000

g

Sociedad

Quimica

y

Minera

de

Chile

S.A.

4.250

05/07/29

1,840,000‌

2,500,000

g

Sociedad

Quimica

y

Minera

de

Chile

S.A.

3.500

09/10/51

1,714,925‌

2,400,000

Suzano

Austria

GmbH

3.750

01/15/31

1,880,280‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

197

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MATERIALS—continued

$

5,000,000

Suzano

Austria

GmbH

3.125

%

01/15/32

$

3,598,500‌

4,070,000

g

Tronox,

Inc

4.625

03/15/29

3,011,800‌

3,675,000

g

UltraTech

Cement

Ltd

2.800

02/16/31

2,838,202‌

815,000

g

Unifrax

Escrow

Issuer

Corp

5.250

09/30/28

625,912‌

800,000

g

WR

Grace

Holdings

LLC

5.625

08/15/29

600,000‌

2,400,000

WRKCo,

Inc

4.900

03/15/29

2,294,411‌

3,950,000

e

WRKCo,

Inc

3.000

06/15/33

3,056,208‌

TOTAL

MATERIALS

122,951,056‌

MEDIA

&

ENTERTAINMENT

-

1.8%

2,675,000

Activision

Blizzard,

Inc

3.400

09/15/26

2,524,357‌

1,850,000

Activision

Blizzard,

Inc

1.350

09/15/30

1,404,032‌

4,782,502

g

Alfa

Desarrollo

S.p.A

4.550

09/27/51

3,156,452‌

3,315,000

g

Arches

Buyer,

Inc

4.250

06/01/28

2,585,700‌

1,275,000

Baidu,

Inc

4.375

05/14/24

1,257,139‌

2,030,000

Baidu,

Inc

1.625

02/23/27

1,721,973‌

3,100,000

g

BOC

Aviation

USA

Corp

1.625

04/29/24

2,926,807‌

1,575,000

g

Cable

Onda

S.A.

4.500

01/30/30

1,239,905‌

4,900,000

g

CCO

Holdings

LLC

5.125

05/01/27

4,422,250‌

2,500,000

g

CCO

Holdings

LLC

4.500

08/15/30

1,977,100‌

5,000,000

g

CCO

Holdings

LLC

4.250

02/01/31

3,835,200‌

4,725,000

Charter

Communications

Operating

LLC

2.250

01/15/29

3,699,547‌

4,000,000

Charter

Communications

Operating

LLC

2.800

04/01/31

3,023,792‌

5,000,000

Charter

Communications

Operating

LLC

3.500

03/01/42

3,172,556‌

2,400,000

Charter

Communications

Operating

LLC

5.125

07/01/49

1,759,289‌

15,750,000

Charter

Communications

Operating

LLC

4.800

03/01/50

11,361,888‌

9,680,000

Charter

Communications

Operating

LLC

3.700

04/01/51

5,866,566‌

13,450,000

Comcast

Corp

2.350

01/15/27

12,061,559‌

3,700,000

Comcast

Corp

4.150

10/15/28

3,494,514‌

7,575,000

Comcast

Corp

1.500

02/15/31

5,686,313‌

4,525,000

Comcast

Corp

3.200

07/15/36

3,498,828‌

1,000,000

Comcast

Corp

3.900

03/01/38

815,197‌

21,258,000

Comcast

Corp

2.887

11/01/51

13,312,418‌

10,186,000

Comcast

Corp

2.937

11/01/56

6,079,762‌

4,100,000

g

CSC

Holdings

LLC

5.500

04/15/27

3,608,000‌

5,000,000

g

CSC

Holdings

LLC

3.375

02/15/31

3,525,000‌

1,225,000

g

CT

Trust

5.125

02/03/32

921,813‌

985,000

g

DIRECTV

Holdings

LLC

5.875

08/15/27

849,178‌

656,000

Discovery

Communications

LLC

2.950

03/20/23

650,244‌

760,000

Discovery

Communications

LLC

4.875

04/01/43

551,030‌

1,450,000

DISH

DBS

Corp

5.000

03/15/23

1,421,450‌

1,300,000

g

Electricidad

Firme

de

Mexico

Holdings

S.A.

de

C.V.

4.900

11/20/26

1,061,125‌

1,950,000

g

Empresa

de

los

Ferrocarriles

del

Estado

3.068

08/18/50

1,094,789‌

2,375,000

g

ENN

Clean

Energy

International

Investment

Ltd

3.375

05/12/26

2,035,065‌

5,500,000

g

Genm

Capital

Labuan

Ltd

3.882

04/19/31

3,765,700‌

2,985,000

Grupo

Televisa

SAB

6.625

01/15/40

2,929,426‌

650,000

Lamar

Media

Corp

3.750

02/15/28

567,785‌

2,000,000

Lamar

Media

Corp

4.875

01/15/29

1,782,686‌

1,000,000

e

Lamar

Media

Corp

4.000

02/15/30

837,880‌

1,675,000

Lamar

Media

Corp

3.625

01/15/31

1,317,404‌

1,275,000

g

LCPR

Senior

Secured

Financing

DAC

5.125

07/15/29

960,160‌

2,600,000

g

Magallanes,

Inc

4.279

03/15/32

2,138,974‌

11,175,000

g

Magallanes,

Inc

5.050

03/15/42

8,361,625‌

1,000,000

g

Medco

Laurel

Tree

Pte

Ltd

6.950

11/12/28

775,970‌

3,700,000

g

Meta

Platforms,

Inc

4.450

08/15/52

3,019,504‌

2,645,000

g

Mexico

Remittances

Funding

Fiduciary

Estate

Management

Sarl

4.875

01/15/28

2,175,513‌

3,260,000

g

Misc

Capital

Two

Labuan

Ltd

3.750

04/06/27

2,949,353‌

825,000

g

News

Corp

3.875

05/15/29

700,310‌

800,000

Paramount

Global

3.375

02/15/28

708,044‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

198

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MEDIA

&

ENTERTAINMENT—continued

$

1,100,000

g

POSCO

4.500

%

08/04/27

$

1,042,309‌

1,525,000

g

Rackspace

Technology

Global,

Inc

3.500

02/15/28

1,008,406‌

2,725,000

g

Sirius

XM

Radio,

Inc

4.000

07/15/28

2,317,831‌

1,575,000

g

Sirius

XM

Radio,

Inc

4.125

07/01/30

1,280,223‌

2,675,000

Take-Two

Interactive

Software,

Inc

3.700

04/14/27

2,483,321‌

750,000

g

TEGNA,

Inc

4.750

03/15/26

723,600‌

500,000

TEGNA,

Inc

4.625

03/15/28

461,626‌

250,000

Time

Warner

Cable

LLC

5.875

11/15/40

205,803‌

1,275,000

g

Univision

Communications,

Inc

4.500

05/01/29

1,039,724‌

725,000

g

Univision

Communications,

Inc

7.375

06/30/30

691,864‌

1,770,000

ViacomCBS,

Inc

4.375

03/15/43

1,179,433‌

200,000

ViacomCBS,

Inc

5.850

09/01/43

159,442‌

110,000

Walt

Disney

Co

7.625

11/30/28

122,259‌

85,000

Walt

Disney

Co

6.550

03/15/33

91,544‌

2,325,000

Weibo

Corp

3.375

07/08/30

1,706,679‌

TOTAL

MEDIA

&

ENTERTAINMENT

164,105,236‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

1.0%

1,550,000

AbbVie,

Inc

2.850

05/14/23

1,533,041‌

12,900,000

AbbVie,

Inc

3.800

03/15/25

12,493,704‌

16,975,000

AbbVie,

Inc

4.050

11/21/39

13,654,949‌

2,072,000

AbbVie,

Inc

4.400

11/06/42

1,720,698‌

1,360,000

AbbVie,

Inc

4.450

05/14/46

1,105,267‌

6,750,000

AbbVie,

Inc

4.250

11/21/49

5,418,679‌

2,325,000

AstraZeneca

Finance

LLC

1.200

05/28/26

2,037,160‌

1,050,000

AstraZeneca

Finance

LLC

2.250

05/28/31

853,332‌

12,000,000

AstraZeneca

plc

1.375

08/06/30

9,261,412‌

1,500,000

g

Avantor

Funding,

Inc

4.625

07/15/28

1,334,917‌

2,040,000

g

Avantor

Funding,

Inc

3.875

11/01/29

1,656,888‌

3,150,000

Bristol-Myers

Squibb

Co

2.350

11/13/40

2,102,556‌

3,050,000

Bristol-Myers

Squibb

Co

3.550

03/15/42

2,386,120‌

1,065,000

Danaher

Corp

2.800

12/10/51

685,158‌

635,000

Gilead

Sciences,

Inc

4

.000

09/01/36

527,715‌

5,830,000

Gilead

Sciences,

Inc

2.800

10/01/50

3,600,410‌

1,250,000

Johnson

&

Johnson

3.400

01/15/38

1,039,410‌

2,250,000

Merck

&

Co,

Inc

2.750

12/10/51

1,465,394‌

4,075,000

Mylan,

Inc

4

.550

04/15/28

3,599,400‌

2,500,000

g

Organon

Finance   LLC

4.125

04/30/28

2,137,500‌

5,650,000

g

Organon

Finance   LLC

5.125

04/30/31

4,628,254‌

11,155,000

Takeda

Pharmaceutical

Co

Ltd

2.050

03/31/30

8,817,864‌

1,000,000

Takeda

Pharmaceutical

Co

Ltd

3.025

07/09/40

707,631‌

1,544,000

Teva

Pharmaceutical

Finance

Netherlands

III

BV

2.800

07/21/23

1,492,137‌

3,500,000

Teva

Pharmaceutical

Finance

Netherlands

III

BV

3.150

10/01/26

2,871,750‌

695,000

Teva

Pharmaceutical

Finance

Netherlands

III

BV

4.750

05/09/27

590,270‌

2,940,000

Viatris,

Inc

1.650

06/22/25

2,613,629‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

90,335,245‌

REAL

ESTATE

-

2.1%

6,850,000

Agree

LP

2.000

06/15/28

5,520,402‌

5,450,000

Alexandria

Real

Estate

Equities,

Inc

3.450

04/30/25

5,224,323‌

450,000

Alexandria

Real

Estate

Equities,

Inc

3.950

01/15/27

425,510‌

675,000

e

Alexandria

Real

Estate

Equities,

Inc

3.950

01/15/28

623,276‌

2,775,000

Alexandria

Real

Estate

Equities,

Inc

4.900

12/15/30

2,624,930‌

1,900,000

Alexandria

Real

Estate

Equities,

Inc

1.875

02/01/33

1,335,381‌

2,700,000

American

Tower

Corp

2.950

01/15/25

2,554,471‌

600,000

American

Tower

Corp

3.375

10/15/26

548,242‌

1,200,000

American

Tower

Corp

3.600

01/15/28

1,064,779‌

5,370,000

American

Tower

Corp

1.500

01/31/28

4,293,502‌

5,800,000

American

Tower

Corp

3.800

08/15/29

5,087,891‌

6,950,000

American

Tower

Corp

2.900

01/15/30

5,712,954‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

199

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE—continued

$

1,375,000

American

Tower

Corp

2.100

%

06/15/30

$

1,053,231‌

890,000

American

Tower

Corp

1.875

10/15/30

658,624‌

1,975,000

Brandywine

Operating

Partnership

LP

3.950

02/15/23

1,965,054‌

1,125,000

Brandywine

Operating

Partnership

LP

4.100

10/01/24

1,085,442‌

2,225,000

Brixmor

Operating

Partnership

LP

3.850

02/01/25

2,138,070‌

8,206,000

Brixmor

Operating

Partnership

LP

2.250

04/01/28

6,623,888‌

1,700,000

Brixmor

Operating

Partnership

LP

2.500

08/16/31

1,239,013‌

2,000,000

Camden

Property

Trust

4.250

01/15/24

1,973,063‌

400,000

Crown

Castle

International

Corp

3.650

09/01/27

362,102‌

7,625,000

Crown

Castle

International

Corp

2.250

01/15/31

5,822,413‌

3,130,000

Crown

Castle

International

Corp

2.100

04/01/31

2,345,774‌

2,900,000

CubeSmart

LP

2.250

12/15/28

2,354,527‌

1,474,000

e

CubeSmart

LP

2.000

02/15/31

1,105,145‌

1,525,000

e

Digital

Realty

Trust

LP

3.600

07/01/29

1,336,991‌

1,075,000

Duke

Realty

LP

2.875

11/15/29

915,433‌

7,735,000

Essential

Properties

LP

2.950

07/15/31

5,649,116‌

5,000,000

Essex

Portfolio

LP

3.875

05/01/24

4,893,728‌

3,200,000

Essex

Portfolio

LP

3.000

01/15/30

2,659,072‌

1,225,000

Federal

Realty

Investment

Trust

1.250

02/15/26

1,077,940‌

4,980,000

g

HAT

Holdings

I

LLC

3.375

06/15/26

3,996,450‌

1,675,000

Healthcare

Realty

Holdings

LP

3.875

05/01/25

1,597,540‌

3,000,000

Healthcare

Realty

Holdings

LP

3.625

01/15/28

2,641,203‌

1,660,000

Healthcare

Realty

Holdings

LP

2.400

03/15/30

1,271,594‌

925,000

Healthcare

Realty

Holdings

LP

2.050

03/15/31

673,394‌

4,125,000

Healthcare

Trust

of

America

Holdings

LP

3.500

08/01/26

3,800,476‌

6,765,000

Healthcare

Trust

of

America

Holdings

LP

3.100

02/15/30

5,540,335‌

7,500,000

Highwoods

Realty

LP

3.875

03/01/27

6,878,828‌

1,025,000

Highwoods

Realty

LP

4.125

03/15/28

924,340‌

1,350,000

Highwoods

Realty

LP

4.200

04/15/29

1,180,568‌

8,010,000

Highwoods

Realty

LP

3.050

02/15/30

6,493,046‌

2,085,000

Highwoods

Realty

LP

2.600

02/01/31

1,563,258‌

1,225,000

g

Howard

Hughes

Corp

4.125

02/01/29

946,312‌

835,000

Hudson

Pacific

Properties

LP

3.950

11/01/27

745,220‌

1,400,000

Kennedy-Wilson,

Inc

4.750

03/01/29

1,068,480‌

1,475,000

Kennedy-Wilson,

Inc

5.000

03/01/31

1,069,463‌

2,275,000

Life

Storage

LP

2.400

10/15/31

1,707,619‌

1,200,000

Mid-America

Apartments

LP

4.300

10/15/23

1,191,236‌

1,200,000

Mid-America

Apartments

LP

3.750

06/15/24

1,173,253‌

1,050,000

Mid-America

Apartments

LP

4.000

11/15/25

1,014,751‌

7,350,000

Mid-America

Apartments

LP

2.750

03/15/30

6,122,174‌

6,200,000

Mid-America

Apartments

LP

1.700

02/15/31

4,682,956‌

1,700,000

Mid-America

Apartments

LP

2.875

09/15/51

1,061,885‌

625,000

National

Retail

Properties,

Inc

4

.000

11/15/25

597,482‌

1,850,000

National

Retail

Properties,

Inc

3.600

12/15/26

1,709,992‌

1,100,000

Regency

Centers

LP

3.900

11/01/25

1,037,737‌

950,000

Regency

Centers

LP

3.600

02/01/27

882,469‌

5,885,000

Regency

Centers

LP

2.950

09/15/29

4,880,862‌

4,425,000

Retail

Properties

of

America,

Inc

4.750

09/15/30

3,846,088‌

17,050,000

g

SBA

Tower

Trust

2.836

01/15/25

15,950,957‌

8,398,000

g

SBA

Tower

Trust

1.884

01/15/26

7,384,082‌

7,500,000

g

SBA

Tower

Trust

1.631

11/15/26

6,393,085‌

646,000

SITE

Centers

Corp

3.625

02/01/25

610,631‌

2,000,000

SITE

Centers

Corp

4.250

02/01/26

1,886,754‌

2,833,000

SITE

Centers

Corp

4.700

06/01/27

2,611,240‌

475,000

Weingarten

Realty

Investors

4.450

01/15/24

469,426‌

1,025,000

Weingarten

Realty

Investors

3.850

06/01/25

980,061‌

700,000

Weingarten

Realty

Investors

3.250

08/15/26

646,508‌

1,075,000

Weyerhaeuser

Co

4.000

03/09/52

787,257‌

TOTAL

REAL

ESTATE

188,293,299‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

200

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

RETAILING

-

0.5%

$

2,670,000

g

Asbury

Automotive

Group,

Inc

4.625

%

11/15/29

$

2,134,318‌

755,000

g

Asbury

Automotive

Group,

Inc

5.000

02/15/32

581,396‌

980,000

AutoNation,

Inc

1.950

08/01/28

770,724‌

3,275,000

AutoZone,

Inc

1.650

01/15/31

2,432,786‌

300,000

Chevron

USA,

Inc

3.900

11/15/24

295,318‌

2,200,000

Genuine

Parts

Co

2.750

02/01/32

1,702,693‌

550,000

g

Group

1

Automotive,

Inc

4.000

08/15/28

442,866‌

4,500,000

g

JSM

Global

Sarl

4.750

10/20/30

3,161,250‌

1,665,000

g

Kia

Corp

2.375

02/14/25

1,547,356‌

925,000

g

L

Brands,

Inc

6.625

10/01/30

804,750‌

800,000

g

LCM

Investments

Holdings

II

LLC

4.875

05/01/29

619,493‌

850,000

g

Lithia

Motors,

Inc

4.625

12/15/27

738,308‌

4,900,000

g

Magic

Mergeco,

Inc

5.250

05/01/28

3,439,702‌

437,000

g

Myriad

International

Holdings

BV

4.850

07/06/27

386,052‌

4,215,000

O'Reilly

Automotive,

Inc

3.550

03/15/26

4,016,634‌

2,175,000

O'Reilly

Automotive,

Inc

3.600

09/01/27

2,019,618‌

2,100,000

O'Reilly

Automotive,

Inc

4

.200

04/01/30

1,925,520‌

9,530,000

O'Reilly

Automotive,

Inc

1.750

03/15/31

7,129,668‌

1,425,000

g

Prosus

NV

4.193

01/19/32

1,045,636‌

2,000,000

g

Prosus

NV

3.832

02/08/51

1,109,844‌

4,950,000

g

Staples,

Inc

7

.500

04/15/26

4,156,070‌

550,000

g

Superior

Plus

LP

4.500

03/15/29

454,223‌

5,315,000

Target

Corp

2.350

02/15/30

4,435,737‌

2,575,000

g

Volkswagen

Group

of

America

Finance

LLC

1.625

11/24/27

2,093,170‌

TOTAL

RETAILING

47,443,132‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0.5%

9,875,000

g

Broadcom,

Inc

2.450

02/15/31

7,442,186‌

3,920,000

g

Broadcom,

Inc

3.419

04/15/33

2,991,808‌

6,774,000

g

Broadcom,

Inc

3

.469

04/15/34

5,082,220‌

1,718,000

g

Broadcom,

Inc

3.187

11/15/36

1,175,019‌

3,442,000

g

Broadcom,

Inc

4.926

05/15/37

2,838,175‌

260,000

e

Intel

Corp

3.150

05/11/27

241,487‌

1,150,000

Intel

Corp

3.734

12/08/47

854,322‌

1,350,000

Lam

Research

Corp

3.750

03/15/26

1,294,669‌

1,525,000

Lam

Research

Corp

4.000

03/15/29

1,426,912‌

4,515,000

Lam

Research

Corp

1.900

06/15/30

3,577,659‌

4,735,000

NVIDIA

Corp

2.000

06/15/31

3,723,237‌

1,650,000

g

NXP

BV

2.700

05/01/25

1,529,938‌

2,650,000

NXP

BV

3.875

06/18/26

2,473,239‌

1,975,000

NXP

BV

4.400

06/01/27

1,862,998‌

1,200,000

NXP

BV

3.400

05/01/30

1,000,066‌

2,575,000

NXP

BV

3.125

02/15/42

1,639,821‌

4,300,000

g

SK

Hynix,

Inc

1.500

01/19/26

3,722,991‌

1,100,000

Texas

Instruments,

Inc

2.625

05/15/24

1,071,257‌

1,100,000

Texas

Instruments,

Inc

4.150

05/15/48

937,924‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

44,885,928‌

SOFTWARE

&

SERVICES

-

0.7%

11,405,000

Adobe,

Inc

2.300

02/01/30

9,474,939‌

265,000

g

CA

Magnum

Holdings

5.375

10/31/26

222,623‌

90,000

g

Camelot

Finance

S.A.

4.500

11/01/26

81,433‌

690,000

g

Clarivate

Science

Holdings

Corp

3.875

07/01/28

569,112‌

5,330,000

Fiserv,

Inc

3.500

07/01/29

4,637,308‌

900,000

g

Gartner,

Inc

3.750

10/01/30

736,780‌

3,500,000

g

HCL

America,

Inc

1.375

03/10/26

3,063,536‌

1,413,000

g

j2

Global,

Inc

4.625

10/15/30

1,158,660‌

19,000,000

Microsoft

Corp

2.400

08/08/26

17,587,999‌

1,911,000

Microsoft

Corp

2.525

06/01/50

1,248,539‌

2,270,000

g

NortonLifeLock,

Inc

6.750

09/30/27

2,178,133‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

201

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SOFTWARE

&

SERVICES—continued

$

2,830,000

g

Open

Text

Corp

3.875

%

12/01/29

$

2,179,751‌

550,000

g

Open

Text

Holdings,

Inc

4.125

02/15/30

439,235‌

3,100,000

Roper

Technologies,

Inc

1.400

09/15/27

2,564,629‌

13,155,000

Roper

Technologies,

Inc

2.000

06/30/30

10,072,285‌

5,800,000

salesforce.com,

Inc

2.700

07/15/41

3,993,018‌

580,000

Visa,

Inc

3.150

12/14/25

553,726‌

3,400,000

Visa,

Inc

2.700

04/15/40

2,457,859‌

TOTAL

SOFTWARE

&

SERVICES

63,219,565‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0.6%

3,450,000

Amphenol

Corp

2.800

02/15/30

2,900,645‌

8,575,000

Apple,

Inc

2.450

08/04/26

7,906,860‌

19,975,000

Apple,

Inc

2.050

09/11/26

18,167,316‌

5,370,000

Apple,

Inc

1.650

02/08/31

4,234,855‌

1,100,000

Apple,

Inc

4.650

02/23/46

1,028,623‌

1,590,000

Apple,

Inc

2.650

02/08/51

1,043,888‌

1,865,000

Corning,

Inc

4.375

11/15/57

1,384,219‌

4,415,000

Dell

International

LLC

5.300

10/01/29

4,113,632‌

11,625,000

g

Imola

Merger

Corp

4.750

05/15/29

9,807,431‌

6,000,000

g

Lenovo

Group

Ltd

3.421

11/02/30

4,534,744‌

975,000

g

Sensata

Technologies

BV

4.000

04/15/29

806,802‌

525,000

Tyco

Electronics

Group

S.A.

3.700

02/15/26

505,201‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

56,434,216‌

TELECOMMUNICATION

SERVICES

-

2.2%

3,775,000

g

Altice

France

S.A.

5.125

07/15/29

2,820,340‌

3,075,000

g

America

Movil

SAB

de

C.V.

5.375

04/04/32

2,645,976‌

12,477,000

AT&T,

Inc

2.550

12/01/33

9,237,266‌

2,300,000

AT&T,

Inc

4.500

05/15/35

1,991,969‌

9,850,000

AT&T,

Inc

3.500

06/01/41

7,094,779‌

36,400,000

AT&T,

Inc

3.550

09/15/55

23,908,830‌

12,174,000

AT&T,

Inc

3.800

12/01/57

8,224,080‌

2,399,000

AT&T,

Inc

3.650

09/15/59

1,554,313‌

2,000,000

g

Bharti

Airtel

Ltd

4.375

06/10/25

1,928,784‌

4,250,000

g

Bharti

Airtel

Ltd

3.250

06/03/31

3,418,955‌

2,500,000

g

C&W

Senior

Financing

Designated

Activity

Co

6.875

09/15/27

2,027,030‌

3,850,000

g

Empresa

Nacional

de

Telecomunicaciones

S.A.

3.050

09/14/32

2,829,750‌

1,925,000

g

Iliad

Holding

SASU

6.500

10/15/26

1,683,220‌

1,675,000

g

Millicom

International

Cellular

S.A.

4.500

04/27/31

1,194,174‌

2,500,000

g

MTN

Mauritius

Investment

Ltd

6.500

10/13/26

2,398,264‌

500,000

Orange

S.A.

5.375

01/13/42

467,781‌

4,700,000

Telefonica

Emisiones

SAU

4.103

03/08/27

4,348,519‌

5,000,000

Telefonica

Emisiones

SAU

5.213

03/08/47

3,803,812‌

2,990,000

Telefonica

Emisiones

SAU

4.895

03/06/48

2,177,317‌

3,000,000

g

Telefonica

Moviles

Chile

S.A.

3.537

11/18/31

2,355,000‌

800,000

T-Mobile

USA,

Inc

2.250

02/15/26

715,824‌

23,850,000

T-Mobile

USA,

Inc

2.625

02/15/29

19,691,514‌

19,910,000

T-Mobile

USA,

Inc

3.875

04/15/30

17,660,482‌

1,275,000

T-Mobile

USA,

Inc

3.000

02/15/41

852,135‌

1,150,000

T-Mobile

USA,

Inc

4.500

04/15/50

920,637‌

4,545,000

T-Mobile

USA,

Inc

3.300

02/15/51

2,961,062‌

1,375,000

Verizon

Communications,

Inc

1.680

10/30/30

1,030,469‌

13,630,000

Verizon

Communications,

Inc

1.750

01/20/31

10,222,014‌

36,400,000

Verizon

Communications,

Inc

2.550

03/21/31

29,062,782‌

2,568,000

Verizon

Communications,

Inc

2.355

03/15/32

1,969,209‌

22,600,000

Verizon

Communications,

Inc

2.650

11/20/40

14,729,699‌

4,915,000

g

Vmed

O2

UK

Financing

I

plc

4.750

07/15/31

3,791,903‌

7,735,000

Vodafone

Group

plc

4.375

02/19/43

5,916,935‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

202

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TELECOMMUNICATION

SERVICES—continued

$

5,800,000

Vodafone

Group

plc

4.250

%

09/17/50

$

4,151,431‌

TOTAL

TELECOMMUNICATION

SERVICES

199,786,255‌

TRANSPORTATION

-

0.5%

1,000,000

g

Adani

Ports

&

Special

Economic

Zone

Ltd

4.000

07/30/27

867,674‌

800,000

g

Adani

Ports

&

Special

Economic

Zone

Ltd

4.200

08/04/27

700,228‌

2,300,000

g

Adani

Ports

&

Special

Economic

Zone

Ltd

3.100

02/02/31

1,652,666‌

4,500,000

g

AerCap

Global

Aviation

6.500

06/15/45

4,106,250‌

2,750,000

Burlington

Northern

Santa

Fe

LLC

3.050

02/15/51

1,870,190‌

6,375,000

Canadian

Pacific

Railway

Co

2.050

03/05/30

5,110,594‌

2,950,000

Canadian

Pacific

Railway

Co

3.100

12/02/51

1,936,529‌

1,000,000

e

CSX

Corp

2.600

11/01/26

909,224‌

625,000

CSX

Corp

3.250

06/01/27

574,575‌

700,000

CSX

Corp

3.800

03/01/28

656,519‌

9,715,000

CSX

Corp

4.250

03/15/29

9,156,219‌

1,500,000

g

DP

World

Ltd

5.625

09/25/48

1,305,179‌

2,235,000

g

First

Student

Bidco,

Inc

4.000

07/31/29

1,810,800‌

1,443,000

g

Mexico

City

Airport

Trust

4.250

10/31/26

1,284,270‌

5,000,000

g

Mexico

City

Airport

Trust

5.500

07/31/47

3,123,500‌

3,000,000

Southwest

Airlines

Co

5.125

06/15/27

2,937,047‌

5,200,000

Union

Pacific

Corp

2.891

04/06/36

3,962,389‌

1,175,000

Union

Pacific

Corp

3.839

03/20/60

872,489‌

TOTAL

TRANSPORTATION

42,836,342‌

UTILITIES

-

2.8%

1,525,000

g

Access

Bank

plc

6.125

09/21/26

1,141,565‌

1,728,125

g

Adani

Transmission

Ltd

4.250

05/21/36

1,378,214‌

1,000,000

AEP

Transmission

Co

LLC

3.100

12/01/26

932,695‌

1,000,000

AEP

Transmission

Co

LLC

4.000

12/01/46

783,204‌

1,740,000

AEP

Transmission

Co

LLC

3.750

12/01/47

1,311,946‌

2,140,000

AEP

Transmission

Co

LLC

2.750

08/15/51

1,337,084‌

1,450,000

g

Aeropuerto

Internacional

de

Tocumen

S.A.

4.000

08/11/41

1,073,622‌

725,000

Alabama

Power

Co

4.150

08/15/44

587,350‌

3,000,000

Alabama

Power

Co

3.450

10/01/49

2,124,649‌

10,350,000

Alabama

Power

Co

3.125

07/15/51

6,920,065‌

3,250,000

Ameren

Corp

1.750

03/15/28

2,682,646‌

1,650,000

American

Water

Capital

Corp

3.000

12/01/26

1,514,499‌

3,075,000

American

Water

Capital

Corp

2.800

05/01/30

2,598,555‌

10,000,000

American

Water

Capital

Corp

2.300

06/01/31

7,926,521‌

1,400,000

American

Water

Capital

Corp

4.000

12/01/46

1,092,259‌

1,425,000

American

Water

Capital

Corp

3.750

09/01/47

1,069,339‌

675,000

American

Water

Capital

Corp

3.450

05/01/50

482,101‌

760,000

American

Water

Capital

Corp

3.250

06/01/51

530,287‌

1,075,000

AmeriGas

Partners

LP

5.875

08/20/26

974,123‌

2,990,000

Atmos

Energy

Corp

1.500

01/15/31

2,248,047‌

375,000

Atmos

Energy

Corp

4.125

10/15/44

303,369‌

2,050,000

Baltimore

Gas

&

Electric

Co

3.750

08/15/47

1,583,429‌

5,535,000

g

Becle

SAB

de

C.V.

2.500

10/14/31

4,284,090‌

4,950,000

Berkshire

Hathaway

Energy

Co

3.250

04/15/28

4,489,335‌

7,137,000

Berkshire

Hathaway

Energy

Co

1.650

05/15/31

5,395,442‌

1,075,000

e

Black

Hills

Corp

4.250

11/30/23

1,070,375‌

850,000

Black

Hills

Corp

3.150

01/15/27

778,218‌

760,000

Black

Hills

Corp

3.875

10/15/49

545,560‌

1,200,000

e

CenterPoint

Energy

Houston

Electric

LLC

3.000

03/01/32

1,015,552‌

660,000

CenterPoint

Energy

Resources

Corp

6.250

02/01/37

676,046‌

1,125,000

CMS

Energy

Corp

3.600

11/15/25

1,062,534‌

2,125,000

g

Colbun

S.A.

3.150

01/19/32

1,623,556‌

3,000,000

g

Comision

Federal

de

Electricidad

3.348

02/09/31

2,141,250‌

395,000

Commonwealth

Edison

Co

5.900

03/15/36

405,009‌

9,470,000

Commonwealth

Edison

Co

3.000

03/01/50

6,306,827‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

203

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

2,750,000

Commonwealth

Edison

Co

2.750

%

09/01/51

$

1,730,013‌

1,425,000

Consumers

Energy

Co

2.650

08/15/52

882,543‌

8,000,000

Consumers

Energy

Co

4

.200

09/01/52

6,633,374‌

6,300,000

Dominion

Energy,

Inc

3.300

04/15/41

4,542,572‌

12,000,000

Dominion

Energy,

Inc

4.350

N/A‡

10,180,303‌

1,500,000

DTE

Electric

Co

3.650

03/01/52

1,132,575‌

14,570,000

Duke

Energy

Corp

3.300

06/15/41

10,161,108‌

3,125,000

Duke

Energy

Corp

3.750

09/01/46

2,212,971‌

3,310,000

Duke

Energy

Progress

LLC

2.500

08/15/50

1,958,875‌

2,100,000

Eastern

Energy

Gas

Holdings

LLC

2.500

11/15/24

1,992,095‌

2,390,000

g

Empresas

Publicas

de

Medellin

ESP

4.250

07/18/29

1,733,515‌

2,500,000

Enel

Chile

S.A.

4.875

06/12/28

2,313,658‌

4,900,000

g

EnfraGen

Energia

Sur

S.A.

5.375

12/30/30

2,913,981‌

3,500,000

g

ENN

Energy

Holdings

Ltd

2.625

09/17/30

2,828,315‌

1,000,000

Entergy

Arkansas

LLC

2.650

06/15/51

603,703‌

3,700,000

Entergy

Corp

0.900

09/15/25

3,255,303‌

2,600,000

g

Equate

Petrochemical

BV

2.625

04/28/28

2,190,915‌

900,000

g

Eskom

Holdings

SOC

Ltd

8.450

08/10/28

761,953‌

2,525,000

Eversource

Energy

1.650

08/15/30

1,902,853‌

3,000,000

Eversource

Energy

3.450

01/15/50

2,075,857‌

1,225,000

Exelon

Corp

4.050

04/15/30

1,110,286‌

3,025,000

g

Ferrellgas

Escrow

LLC

5.375

04/01/26

2,662,000‌

3,225,000

g

Ferrellgas

Escrow

LLC

5.875

04/01/29

2,645,451‌

2,700,000

Florida

Power

&

Light

Co

3.990

03/01/49

2,183,271‌

UGX

8,000,000,000

†,g

ICBC

Standard

Bank

plc

14.250

06/26/34

1,706,819‌

1,150,000

Indiana

Michigan

Power

Co

3.750

07/01/47

846,270‌

2,865,000

Indiana

Michigan

Power

Co

3.250

05/01/51

1,912,783‌

6,000,000

g

Israel

Electric

Corp

Ltd

4.250

08/14/28

5,552,826‌

2,000,000

g

Kallpa

Generacion

SA

4.125

08/16/27

1,735,240‌

3,175,000

g

Korea

Electric

Power

Corp

1.125

06/15/25

2,860,508‌

2,250,000

g

Korea

Electric

Power

Corp

4.000

06/14/27

2,132,101‌

2,200,000

g

Korea

Hydro

&

Nuclear

Power

Co

Ltd

3.750

07/25/23

2,181,696‌

2,600,000

g

Korea

Southern

Power

Co

Ltd

0.750

01/27/26

2,272,712‌

7,275,000

MidAmerican

Energy

Co

3.650

04/15/29

6,707,816‌

2,175,000

MidAmerican

Energy

Co

3.650

08/01/48

1,645,281‌

1,650,000

Nevada

Power

Co

2.400

05/01/30

1,357,330‌

4,320,000

NextEra

Energy

Capital

Holdings,

Inc

2.250

06/01/30

3,446,453‌

15,720,000

NiSource,

Inc

1.700

02/15/31

11,632,451‌

2,845,000

g

NRG

Energy,

Inc

2.450

12/02/27

2,329,052‌

1,250,000

NRG

Energy,

Inc

5.750

01/15/28

1,153,601‌

2,000,000

NSTAR

Electric

Co

3.200

05/15/27

1,855,460‌

850,000

NSTAR

Electric

Co

3.950

04/01/30

790,484‌

2,175,000

Ohio

Power

Co

4.150

04/01/48

1,741,395‌

2,175,000

Ohio

Power

Co

4.000

06/01/49

1,670,364‌

150,000

Oncor

Electric

Delivery

Co

LLC

7.250

01/15/33

171,273‌

2,940,000

PacifiCorp

2.700

09/15/30

2,454,969‌

2,915,000

PacifiCorp

2.900

06/15/52

1,865,244‌

350,000

g

Pattern

Energy

Operations

LP

4.500

08/15/28

303,432‌

1,375,000

PECO

Energy

Co

3.000

09/15/49

906,903‌

1,000,000

PECO

Energy

Co

2.800

06/15/50

642,763‌

1,400,000

g

Perusahaan

Listrik

Negara

PT

3.875

07/17/29

1,192,436‌

2,500,000

g

Perusahaan

Listrik

Negara

PT

3.375

02/05/30

2,012,500‌

2,100,000

†,g

Phosagro

OAO

Via

Phosagro

Bond

Funding

DAC

2.600

09/16/28

1,081,500‌

135,000

Potomac

Electric

Power

Co

7.900

12/15/38

159,766‌

2,050,000

g

Promigas

S.A.

ESP

3.750

10/16/29

1,585,038‌

8,425,000

Public

Service

Co

of

Colorado

1.875

06/15/31

6,579,811‌

5,440,000

Public

Service

Co

of

Colorado

3.200

03/01/50

3,814,014‌

3,925,000

Public

Service

Electric

&

Gas

Co

3.150

01/01/50

2,698,022‌

3,000,000

g

Rumo

Luxembourg

Sarl

5.250

01/10/28

2,721,780‌

3,215,000

g

Saka

Energi

Indonesia

PT

4.450

05/05/24

2,957,841‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

204

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

4,000,000

Sempra

Energy

4.875

%

N/A‡

$

3,720,000‌

1,750,000

Southern

Co

4.400

07/01/46

1,366,414‌

2,075,000

Southern

Co

Gas

Capital

Corp

3.875

11/15/25

1,985,588‌

1,250,000

Southern

Co

Gas

Capital

Corp

4.400

06/01/43

996,995‌

1,175,000

Southern

Co

Gas

Capital

Corp

3.950

10/01/46

861,970‌

4,900,000

Southwestern

Public

Service

Co

3.400

08/15/46

3,503,527‌

1,700,000

g

Tengizchevroil

Finance

Co

International

Ltd

2.625

08/15/25

1,399,533‌

4,000,000

g

TerraForm

Power

Operating

LLC

4.750

01/15/30

3,395,120‌

1,612,658

g

UEP

Penonome

II

S.A.

6.500

10/01/38

1,386,886‌

1,025,000

Virginia

Electric

&

Power

Co

2.950

11/15/26

944,416‌

1,050,000

Virginia

Electric

&

Power

Co

3.500

03/15/27

983,846‌

6,000,000

Virginia

Electric

&

Power

Co

3.800

04/01/28

5,629,684‌

1,000,000

Wisconsin

Power

&

Light

Co

4.100

10/15/44

773,601‌

470,000

Xcel

Energy,

Inc

4.800

09/15/41

406,936‌

TOTAL

UTILITIES

255,029,303‌

TOTAL

CORPORATE

BONDS

3,150,624,925‌

(Cost

$3,843,566,343)

GOVERNMENT

BONDS

-

45.5%

AGENCY

SECURITIES

-

0.1%

2,999,000

Canal

Barge

Co,

Inc

4.500

11/12/34

2,873,840‌

5,000,000

Overseas

Private

Investment

Corp

(OPIC)

3.520

09/20/32

4,754,202‌

TOTAL

AGENCY

SECURITIES

7,628,042‌

FOREIGN

GOVERNMENT

BONDS

-

1.9%

1,500,000

g

Abu

Dhabi

Government

International

Bond

2.500

09/30/29

1,305,697‌

975,000

g

African

Export-Import

Bank

2.634

05/17/26

846,067‌

3,125,000

g

Angolan

Government

International

Bond

8.750

04/14/32

2,310,349‌

3,325,000

g

Arab

Petroleum

Investments

Corp

4.125

09/18/23

3,306,336‌

INR

140,000,000

Asian

Development

Bank

6.200

10/06/26

1,647,793‌

4,465,000

g

Banque

Ouest

Africaine

de

Developpement

4.700

10/22/31

3,573,281‌

EUR

2,100,000

g

Banque

Ouest

Africaine

de

Developpement

2.750

01/22/33

1,490,162‌

628,900

g

Barbados

Government

International

Bond

6.500

10/01/29

553,316‌

750,000

g

Bermuda

Government

International

Bond

4.750

02/15/29

720,432‌

3,000,000

g

BNG

Bank

NV

3.000

09/20/23

2,961,136‌

1,245,000

g

Brazil

Minas

SPE

via

State

of

Minas

Gerais

5.333

02/15/28

1,202,981‌

2,000,000

Brazilian

Government

International

Bond

4.750

01/14/50

1,360,240‌

5,950,000

e

Chile

Government

International

Bond

2.550

01/27/32

4,667,058‌

990,000

Chile

Government

International

Bond

3.100

05/07/41

670,779‌

CNY

16,600,000

China

Government

International

Bond

2.880

11/05/23

2,364,787‌

CNY

5,000,000

China

Government

International

Bond

3.270

11/19/30

732,839‌

CNY

3,300,000

China

Government

International

Bond

3.810

09/14/50

512,956‌

4,275,000

Colombia

Government

International

Bond

3.250

04/22/32

2,889,324‌

1,300,000

Colombia

Government

International

Bond

5.000

06/15/45

786,887‌

3,000,000

g

Corp

Financiera

de

Desarrollo

S.A.

2.400

09/28/27

2,482,500‌

3,460,000

g

Costa

Rica

Government

International

Bond

5.625

04/30/43

2,457,965‌

1,750,000

g

Development

Bank

of

Japan,

Inc

0.500

03/04/24

1,653,202‌

DOP

90,000,000

g

Dominican

Republic

Government

International

Bond

9.750

06/05/26

1,624,136‌

DOP

120,000,000

g

Dominican

Republic

Government

International

Bond

12.000

03/05/32

2,150,450‌

2,250,000

g

Dominican

Republic

Government

International

Bond

4.875

09/23/32

1,691,575‌

3,725,000

g

Dominican

Republic

Government

International

Bond

6.500

02/15/48

2,743,424‌

1,295,000

g

Dominican

Republic

International

Bond

5.500

02/22/29

1,114,666‌

990,000

g

Dominican

Republic

International

Bond

5.300

01/21/41

668,930‌

143,196

g

Ecuador

Government

International

Bond

0.000

07/31/30

41,074‌

857,325

g

Ecuador

Government

International

Bond

(Step

Bond)

5.000

07/31/30

403,643‌

956,102

g

Ecuador

Government

International

Bond

(Step

Bond)

1.000

07/31/35

314,655‌

1,150,000

g

Egypt

Government

International

Bond

7.600

03/01/29

802,889‌

EUR

3,000,000

g

Egypt

Government

International

Bond

5.625

04/16/30

1,700,230‌

1,500,000

g

Egypt

Government

International

Bond

7.053

01/15/32

903,750‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

205

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

1,050,000

g

Egypt

Government

International

Bond

8.500

%

01/31/47

$

582,168‌

1,875,000

g

Egypt

Government

International

Bond

8.875

05/29/50

1,038,776‌

450,000

g

El

Salvador

Government

International

Bond

6.375

01/18/27

165,648‌

1,200,000

g

El

Salvador

Government

International

Bond

7.625

02/01/41

379,083‌

1,070,000

g

El

Salvador

Government

International

Bond

7.125

01/20/50

337,050‌

395,000

European

Investment

Bank

4.875

02/15/36

423,503‌

4,400,000

g

Export-Import

Bank

of

India

3.875

02/01/28

3,983,672‌

1,900,000

g

Export-Import

Bank

of

India

2.250

01/13/31

1,414,108‌

2,200,000

Export-Import

Bank

of

Korea

0.750

09/21/25

1,954,472‌

3,200,000

Export-Import

Bank

of

Korea

1.250

09/21/30

2,471,390‌

950,000

g

Ghana

Government

International

Bond

8.125

03/26/32

353,609‌

1,500,000

g

Ghana

Government

International

Bond

8.627

06/16/49

548,370‌

1,700,000

g

Guatemala

Government

Bond

3.700

10/07/33

1,232,530‌

245,000

g

Guatemala

Government

International

Bond

6.125

06/01/50

200,835‌

EUR

1,750,000

g

Hellenic

Republic

Government

International

Bond

1.875

07/23/26

1,587,705‌

1,350,000

g

Honduras

Government

International

Bond

6.250

01/19/27

1,107,390‌

875,000

g

Hungary

Government

International

Bond

5.250

06/16/29

789,452‌

575,000

g

Hungary

Government

International

Bond

2.125

09/22/31

393,031‌

500,000

Indonesia

Government

International

Bond

3.550

03/31/32

431,189‌

IDR

28,000,000,000

Indonesia

Treasury

Bond

7.000

09/15/30

1,801,966‌

IDR

25,500,000,000

Indonesia

Treasury

Bond

7.500

08/15/32

1,678,595‌

1,601,875

g

Iraq

Government

International

Bond

5.800

01/15/28

1,311,791‌

EUR

125,000

g

Ivory

Coast

Government

International

Bond

4.875

01/30/32

81,737‌

770,000

g

Ivory

Coast

Government

International

Bond

6.125

06/15/33

583,252‌

1,097,154

g

Ivory

Coast

Government

International

Bond

(Step

Bond)

5.750

12/31/32

934,357‌

710,000

Jamaica

Government

International

Bond

6.750

04/28/28

735,459‌

3,050,000

Jamaica

Government

International

Bond

7.875

07/28/45

3,281,701‌

1,500,000

g

Japan

Finance

Organization

for

Municipalities

3

.000

03/12/24

1,466,546‌

1,750,000

g

Jordan

Government

International

Bond

4.950

07/07/25

1,611,704‌

2,060,000

g

Jordan

Government

International

Bond

5.850

07/07/30

1,672,733‌

1,375,000

g

Kenya

Government

International

Bond

7.000

05/22/27

1,054,505‌

1,000,000

g

Kenya

Government

International

Bond

8.000

05/22/32

675,088‌

1,490,000

g

Kenya

Government

International

Bond

6.300

01/23/34

906,501‌

2,000,000

g

Kommunalbanken

AS.

1.125

06/14/30

1,602,880‌

1,700,000

g

Korea

Housing

Finance

Corp

3.000

10/31/22

1,698,266‌

3,000,000

g

Korea

Hydro

&

Nuclear

Power

Co

Ltd

1.250

04/27/26

2,626,732‌

MYR

7,600,000

Malaysia

Government

Bond

3.828

07/05/34

1,509,565‌

MXN

27,200,000

Mexican

Bonos

5.750

03/05/26

1,185,147‌

MXN

24,500,000

Mexican

Bonos

8.500

11/18/38

1,097,102‌

900,000

e

Mexico

Government

International

Bond

3.250

04/16/30

750,383‌

3,424,000

Mexico

Government

International

Bond

6.050

01/11/40

3,166,480‌

4,000,000

Mexico

Government

International

Bond

4.280

08/14/41

2,909,349‌

2,025,000

Mexico

Government

International

Bond

4.750

03/08/44

1,551,715‌

500,000

g

Mongolia

Government

International

Bond

5.125

04/07/26

392,078‌

1,710,000

g

Mongolia

Government

International

Bond

4.450

07/07/31

1,113,004‌

1,760,000

g

Morocco

Government

International

Bond

3.000

12/15/32

1,227,951‌

2,825,000

g

Morocco

Government

International

Bond

5.500

12/11/42

2,068,046‌

525,000

g

Morocco

Government

International

Bond

4.000

12/15/50

297,374‌

2,500,000

g

Namibia

Government

International

Bond

5.250

10/29/25

2,209,791‌

425,000

g

Nigeria

Government

International

Bond

6.500

11/28/27

306,784‌

1,000,000

g,k

Nigeria

Government

International

Bond

8.375

03/24/29

712,900‌

345,000

g

Nigeria

Government

International

Bond

7.875

02/16/32

220,576‌

400,000

g

Oman

Government

International

Bond

6.750

10/28/27

394,326‌

2,090,000

g

Oman

Government

International

Bond

6.000

08/01/29

1,944,750‌

1,500,000

g

Oman

Government

International

Bond

6.250

01/25/31

1,396,316‌

400,000

g

Oman

Sovereign

Sukuk

Co

4.875

06/15/30

381,332‌

550,000

e,g

Pakistan

Global

Sukuk

Programme

Co

Ltd

7.950

01/31/29

384,340‌

970,000

g

Pakistan

Government

International

Bond

6.875

12/05/27

363,750‌

2,645,000

Panama

Bonos

del

Tesoro

3.362

06/30/31

2,301,150‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

206

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

3,225,000

Panama

Notas

del

Tesoro

3.750

%

04/17/26

$

3,061,331‌

475,000

g

Paraguay

Government

International

Bond

4.700

03/27/27

447,786‌

1,275,000

g

Paraguay

Government

International

Bond

5.400

03/30/50

937,371‌

1,435,000

g

Perusahaan

Penerbit

SBSN

Indonesia

III

2.550

06/09/31

1,167,731‌

1,200,000

g

Perusahaan

Penerbit

SBSN

Indonesia

III

4.700

06/06/32

1,126,697‌

1,315,000

Peruvian

Government

International

Bond

3.000

01/15/34

987,377‌

1,320,000

k

Philippine

Government

International

Bond

4.200

03/29/47

1,021,022‌

620,000

Province

of

Quebec

Canada

7.500

09/15/29

732,685‌

1,500,000

g

Provincia

de

Mendoza

Argentina

(Step

Bond)

4.250

03/19/29

1,036,133‌

2,300,000

g

Qatar

Government

International

Bond

4.400

04/16/50

2,018,472‌

475,000

g

Republic

of

Azerbaijan

Government

International

Bond

5.125

09/01/29

433,198‌

5,000,000

Republic

of

Italy

Government

International

Bond

4.000

10/17/49

3,552,593‌

2,200,000

g

Republic

of

Paraguay

6.100

08/11/44

1,821,952‌

UZS

7,990,000,000

g

Republic

of

Uzbekistan

Bond

14.500

11/25/23

696,917‌

410,000

g

Republic

of

Uzbekistan

Government

International

Bond

5.375

02/20/29

342,833‌

2,150,000

g

Republic

of

Uzbekistan

International

Bond

4.750

02/20/24

2,020,467‌

UZS

7,600,000,000

g

Republic

of

Uzbekistan

International

Bond

14.000

07/19/24

656,776‌

2,000,000

g

Romanian

Government

International

Bond

3.000

02/14/31

1,417,201‌

1,425,000

g

Romanian

Government

International

Bond

4.000

02/14/51

790,509‌

3,825,000

g

Rwanda

International

Government

Bond

5.500

08/09/31

2,767,263‌

2,900,000

g

Saudi

Government

International

Bond

4.500

04/17/30

2,829,899‌

2,810,000

g

Saudi

Government

International

Bond

3.750

01/21/55

2,073,223‌

1,225,000

g

Serbia

International

Bond

2.125

12/01/30

798,969‌

RSD

290,000,000

Serbia

Treasury

Bonds

5.875

02/08/28

2,252,713‌

2,000,000

South

Africa

Government

International

Bond

5.875

09/16/25

1,959,724‌

ZAR

22,300,000

South

Africa

Government

International

Bond

7.000

02/28/31

948,745‌

ZAR

23,400,000

South

Africa

Government

International

Bond

8.750

01/31/44

976,680‌

2,895,000

e

South

Africa

Government

International

Bond

5.375

07/24/44

1,854,015‌

2,900,000

g

Southern

Gas

Corridor

CJSC

6

.875

03/24/26

2,845,576‌

1,110,000

State

of

Israel

3.800

05/13/60

839,820‌

THB

24,600,000

Thailand

Government

International

Bond

2.875

12/17/28

648,834‌

THB

24,500,000

Thailand

Government

International

Bond

3.300

06/17/38

600,728‌

3,000,000

g

Turkiye

Ihracat

Kredi

Bankasi

AS.

5.750

07/06/26

2,477,993‌

1,225,000

g

Ukraine

Government

International

Bond

9.750

11/01/30

259,678‌

EUR

850,000

g

Ukraine

Government

International

Bond

4.375

01/27/32

151,197‌

150,000

Uruguay

Government

International

Bond

4.375

01/23/31

143,483‌

575,000

Uruguay

Government

International

Bond

4.125

11/20/45

495,577‌

1,200,000

†,g

Zambia

Government

International

Bond

8.500

04/14/24

569,520‌

TOTAL

FOREIGN

GOVERNMENT

BONDS

175,420,200‌

MORTGAGE

BACKED

-

20.1%

12,030,000

g,i

Connecticut

Avenue

Securities

Trust

4.181

12/25/41

10,984,695‌

5,000,000

g,i

Connecticut

Avenue

Securities

Trust

6.781

01/25/42

4,491,678‌

12,630,000

g,i

Connecticut

Avenue

Securities

Trust

5.381

03/25/42

11,861,019‌

1,250,000

g,i

Connecticut

Avenue

Securities

Trust

6.349

03/25/42

1,204,176‌

24,530,000

g,i

Connecticut

Avenue

Securities

Trust

6.131

05/25/42

23,290,916‌

13,790,000

g,i

Connecticut

Avenue

Securities

Trust

6.955

06/25/42

13,677,948‌

2,129,803

i

Federal

Home

Loan

Mortgage

Corp

(FHLMC)

LIBOR

1

M

+

5.920%

3.102

03/15/44

191,646‌

7,175,044

FHLMC

4.000

10/01/47

6,799,850‌

3,366,753

i

FHLMC

LIBOR

1

M

+

9.920%

5.412

06/15/48

3,141,829‌

16,039

FHLMC

4.000

07/01/48

15,160‌

3,617,732

i

FHLMC

LIBOR

1

M

+

9.840%

5.332

10/15/48

3,292,657‌

20,147,732

FHLMC

4.000

09/01/49

19,031,002‌

11,993,373

FHLMC

2.000

09/25/50

1,413,357‌

23,227,458

FHLMC

2.500

02/25/51

3,722,425‌

6,180,826

FHLMC

3.000

09/01/51

5,541,898‌

2,457,360

FHLMC

3

.000

11/01/51

2,188,424‌

3,767,947

FHLMC

3.000

11/01/51

3,338,430‌

26,073,256

FHLMC

3.000

11/01/51

23,101,122‌

4,678,310

FHLMC

3.000

11/01/51

4,116,326‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

207

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

36,058,918

FHLMC

2.000

%

02/01/52

$

29,335,212‌

39,807,664

FHLMC

2.500

02/01/52

33,637,837‌

33,373,266

FHLMC

2.500

03/01/52

28,179,847‌

41,110,950

FHLMC

2.500

03/01/52

34,620,067‌

4,749,593

FHLMC

3.000

04/01/52

4,157,458‌

27,399,986

FHLMC

4.500

06/01/52

26,176,338‌

26,340,798

FHLMC

4.500

07/01/52

25,164,452‌

2,869,032

FHLMC

4.000

08/25/52

2,554,147‌

230

Federal

Home

Loan

Mortgage

Corp

Gold

(FGLMC)

8.000

01/01/31

231‌

6,715

FGLMC

8.000

09/01/31

6,941‌

62,699

FGLMC

7.000

12/01/31

64,412‌

37,285

FGLMC

4.500

07/01/33

36,482‌

277,581

FGLMC

7.000

12/01/33

290,186‌

86,062

FGLMC

4.500

04/01/35

84,263‌

79,483

FGLMC

7.000

05/01/35

82,287‌

1,498,811

FGLMC

5.000

06/01/36

1,512,202‌

57,335

FGLMC

5.000

07/01/39

57,854‌

1,293,333

FGLMC

5.000

08/01/44

1,304,867‌

68,503

FGLMC

4.500

11/01/44

66,466‌

120,369

FGLMC

4.500

11/01/44

117,316‌

65,782

FGLMC

4.500

12/01/44

64,043‌

89,959

FGLMC

4.500

12/01/44

87,723‌

576,737

FGLMC

3.500

04/01/45

530,307‌

11,990,317

FGLMC

3.500

08/01/45

11,069,578‌

12,788,903

FGLMC

3.500

10/01/45

11,759,247‌

2,581,738

FGLMC

4.000

12/01/45

2,461,941‌

4,399,789

FGLMC

4.500

06/01/47

4,321,685‌

3,252,350

FGLMC

4.000

09/01/47

3,092,026‌

3,870,387

FGLMC

3.500

12/01/47

3,544,350‌

1,820,867

FGLMC

4.000

07/01/48

1,723,091‌

9,163,308

FGLMC

4.500

08/01/48

8,944,483‌

46

Federal

National

Mortgage

Association

(FNMA)

8.000

07/01/24

47‌

95

FNMA

7.500

01/01/29

97‌

757

FNMA

7.500

03/01/31

795‌

884,928

FNMA

3.500

05/01/32

841,757‌

2,335,859

FNMA

3.000

10/01/32

2,176,964‌

588,443

FNMA

3.500

11/01/32

559,669‌

545,864

FNMA

5.000

05/01/35

550,125‌

423,259

FNMA

5.000

10/01/35

426,586‌

219,327

FNMA

5.000

02/01/36

220,648‌

11,780,026

FNMA

3.000

09/01/37

10,945,815‌

5,990,108

FNMA

3.500

09/01/37

5,666,443‌

11,380,000

FNMA

3.500

10/01/37

10,763,872‌

27,650,000

h

FNMA

4.000

10/25/37

26,673,609‌

13,820,000

h

FNMA

4.500

10/25/37

13,571,672‌

294,974

FNMA

5.500

11/01/38

304,701‌

181,419

FNMA

5.500

03/01/39

187,207‌

3,184,018

FNMA

3.000

10/01/39

2,836,817‌

1,494,781

FNMA

3.000

05/01/40

1,332,920‌

348,107

FNMA

5.000

09/01/40

350,847‌

201,995

FNMA

4.000

02/01/41

192,547‌

394,747

FNMA

5.000

05/01/41

397,866‌

23,656,483

FNMA

2.000

03/01/42

19,771,420‌

5,416,373

FNMA

4.000

09/01/42

5,142,469‌

691,336

FNMA

3.500

04/01/43

634,956‌

599,869

FNMA

3.500

09/01/43

552,103‌

2,658,950

i

FNMA

LIBOR

1

M

+

5.950%

2.866

09/25/43

267,792‌

1,831,975

FNMA

4.000

01/01/44

1,743,797‌

1,937,126

FNMA

4.500

03/01/44

1,897,801‌

498,984

FNMA

4.500

06/01/44

485,806‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

208

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

2,273,835

FNMA

4.500

%

06/01/44

$

2,213,948‌

427,880

FNMA

3.500

07/01/44

393,036‌

1,298,158

FNMA

4.500

08/01/44

1,263,081‌

1,936,475

FNMA

4.500

10/01/44

1,885,517‌

1,302,720

FNMA

4.500

11/01/44

1,268,547‌

1,216,938

FNMA

5.000

11/01/44

1,226,521‌

365,345

FNMA

4.500

12/01/44

355,680‌

1,197,171

FNMA

4.000

01/01/45

1,133,377‌

1,449,692

FNMA

3.500

05/01/45

1,333,982‌

2,958,775

FNMA

4.000

12/01/45

2,811,669‌

2,926,468

FNMA

3.500

01/01/46

2,688,388‌

2,533,862

FNMA

4.000

01/01/46

2,406,838‌

1,262,482

FNMA

4.000

04/01/46

1,195,453‌

2,158,273

FNMA

3.500

06/01/46

1,982,773‌

4,721,485

FNMA

3.500

07/01/46

4,337,453‌

10,119,400

FNMA

3.500

07/01/46

9,295,113‌

1,591,263

FNMA

3.000

10/01/46

1,376,386‌

1,361,456

FNMA

3.500

10/01/46

1,248,531‌

2,223,435

FNMA

4.500

05/01/47

2,178,447‌

730,022

FNMA

3.000

11/01/47

632,050‌

4,969,810

FNMA

3.500

11/01/47

4,565,216‌

12,829,090

FNMA

4.000

12/01/47

12,095,571‌

6,808,189

FNMA

3.500

01/01/48

6,221,853‌

2,570,616

FNMA

4.500

01/01/48

2,506,660‌

1,056,189

FNMA

4.500

02/01/48

1,029,916‌

1,990,560

FNMA

4.000

03/01/48

1,880,916‌

4,195,892

FNMA

4.500

03/01/48

4,091,552‌

1,356,363

FNMA

4.500

05/01/48

1,322,633‌

1,862,645

FNMA

4.500

05/01/48

1,816,346‌

2,624,745

FNMA

4.000

06/01/48

2,485,287‌

1,902,143

FNMA

5.000

08/01/48

1,881,957‌

22,724

FNMA

3.000

05/01/49

19,664‌

230,323

FNMA

3.000

06/01/49

199,435‌

3,294,170

FNMA

4.500

06/01/49

3,178,065‌

18,107,455

FNMA

3.000

07/01/50

15,926,649‌

7,056,796

FNMA

2.000

08/25/50

995,660‌

20,497,975

FNMA

2.500

11/25/50

3,030,747‌

10,090,875

FNMA

3.000

12/25/50

1,585,887‌

6,799,726

FNMA

3.000

02/25/51

1,398,999‌

76,840,961

FNMA

2.000

04/01/51

62,567,796‌

6,794,588

FNMA

3.500

08/01/51

6,166,203‌

4,904,475

FNMA

3.000

09/01/51

4,317,580‌

10,741,137

FNMA

2.500

11/25/51

1,513,350‌

27,759,845

FNMA

2.000

12/01/51

22,557,934‌

4,747,185

FNMA

2.000

01/01/52

3,870,856‌

18,250,078

FNMA

2.500

01/01/52

15,372,444‌

1,418,529

FNMA

3.000

01/01/52

1,243,338‌

34,182,244

FNMA

2.000

02/01/52

27,808,186‌

30,044,759

FNMA

2.500

02/01/52

25,282,285‌

28,545,450

FNMA

2.500

02/01/52

24,103,227‌

35,502,706

FNMA

2.500

02/01/52

30,000,078‌

1,597,909

FNMA

2.500

02/01/52

1,344,958‌

11,433,543

FNMA

3.500

02/01/52

10,361,799‌

15,515,602

FNMA

2.000

03/01/52

12,607,934‌

5,653,482

FNMA

2.000

03/01/52

4,594,008‌

1,314,418

FNMA

2.500

04/01/52

1,105,794‌

5,482,902

FNMA

3.000

04/01/52

4,799,339‌

43,824,183

FNMA

3.000

04/01/52

38,266,505‌

7,194,156

FNMA

3.000

04/01/52

6,297,219‌

76,784,307

FNMA

3.000

04/01/52

67,211,532‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

209

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

42,855,901

FNMA

3.000

%

04/01/52

$

37,433,231‌

2,124,594

h

FNMA

3.500

04/01/52

1,914,497‌

27,455,268

FNMA

3.500

05/01/52

24,740,527‌

10,499,634

FNMA

3.500

05/01/52

9,463,518‌

40,894,864

FNMA

4.000

05/01/52

38,007,660‌

25,660,476

h

FNMA

3.500

06/01/52

23,145,674‌

30,046,343

FNMA

4.000

06/01/52

27,912,871‌

14,095,038

FNMA

4.500

06/01/52

13,465,572‌

73,602,774

FNMA

4.000

07/01/52

68,375,662‌

12,049,024

FNMA

4.500

07/01/52

11,510,930‌

4,669,604

h

FNMA

4.500

07/01/52

4,461,066‌

5,016,745

FNMA

4.500

07/01/52

4,792,704‌

63,320,843

FNMA

5.000

08/01/52

61,749,397‌

15,844,996

FNMA

4.000

09/01/52

14,709,877‌

26,364,250

h

FNMA

4.500

09/01/52

25,186,856‌

24,844,012

FNMA

5.000

09/01/52

24,227,640‌

4,103,633

FNMA

4.000

09/25/52

3,619,667‌

3,456,483

FNMA

4.000

09/25/52

3,000,119‌

3,765,000

†

FNMA

4.500

10/25/52

3,650,491‌

3,300,000

†

FNMA

4.500

10/25/52

3,176,121‌

12,400,000

h

FNMA

6.000

11/25/52

12,550,641‌

4,250,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5.681

10/25/41

3,817,009‌

3,849,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5.781

03/25/42

3,693,009‌

24,295,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5.631

05/25/42

23,147,292‌

460,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5.831

08/25/42

432,777‌

13,150,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5.985

09/25/42

12,804,404‌

5,072,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

4.581

08/25/33

4,919,573‌

7,070,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

3.700

11/25/41

6,253,166‌

26,600,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

4.681

02/25/42

24,768,295‌

26,700,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

6.781

06/25/42

26,827,039‌

9,540,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

6.281

07/25/42

9,165,048‌

26,070

Government

National

Mortgage

Association

(GNMA)

6.500

11/20/38

27,527‌

235,175

GNMA

5.000

06/15/39

236,652‌

11,963,630

GNMA

2.500

12/20/43

10,720,686‌

909,813

GNMA

4.500

12/20/45

883,255‌

1,839,943

GNMA

4.000

06/20/46

259,729‌

6,690,000

†

GNMA

4.500

09/20/51

6,401,494‌

6,409,719

GNMA

2.500

02/20/52

5,320,214‌

29,056,772

GNMA

2.500

05/20/52

25,019,319‌

103,781,901

GNMA

3.000

05/20/52

91,893,474‌

44,714,277

GNMA

3.500

07/20/52

40,758,647‌

4,932,721

GNMA

4.000

07/20/52

4,207,911‌

12,953,081

GNMA

4.000

08/20/52

12,116,424‌

12,330,000

GNMA

4.000

09/20/52

11,528,299‌

6,690,000

†

GNMA

4.500

09/20/52

6,380,930‌

5,570,000

†

GNMA

4.500

09/20/52

5,121,440‌

9,302,167

g,i

GS

Mortgage-Backed

Securities

Trust

2.500

03/25/52

8,057,222‌

8,976,404

g,i

GS

Mortgage-Backed

Securities

Trust

2.500

03/25/52

7,082,358‌

8,791,765

g,i

GS

Mortgage-Backed

Securities

Trust

2.500

05/01/52

7,582,207‌

8,593,800

g,i

GS

Mortgage-Backed

Securities

Trust

3.000

08/26/52

6,963,663‌

2,544,414

g,i

J.P.

Morgan

Mortgage

Trust

2.927

05/25/52

1,961,612‌

7,355,332

g,i

J.P.

Morgan

Mortgage

Trust

3.000

09/25/52

6,011,643‌

5,085,810

g,i

J.P.

Morgan

Mortgage

Trust

3.000

11/25/52

4,225,620‌

6,454,132

g,i

J.P.

Morgan

Mortgage

Trust

3.000

12/25/52

5,193,749‌

13,558,404

g,i

JP

Morgan

Mortgage

Trust

2.500

07/25/52

10,748,189‌

23,462,865

g,i

JP

Morgan

Mortgage

Trust

3.250

07/25/52

19,953,280‌

14,850,996

g,i

JP

Morgan

Mortgage

Trust

3.000

08/25/52

12,043,304‌

8,720,242

g,i

JP

Morgan

Mortgage

Trust

3.000

10/25/52

7,071,615‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

210

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

5,697,085

g,i

JP

Morgan

Mortgage

Trust

3.000

%

11/25/52

$

4,634,196‌

TOTAL

MORTGAGE

BACKED

1,819,128,205‌

MUNICIPAL

BONDS

-

1.5%

4,145,000

Alabama

Economic

Settlement

Authority

3.163

09/15/25

3,998,940‌

990,000

Chicago

Housing

Authority

3.682

01/01/25

963,566‌

380,000

City

&

County

of

San

Francisco

CA

Community

Facilities

District

3.028

09/01/23

375,659‌

550,000

City

&

County

of

San

Francisco

CA

Community

Facilities

District

4.038

09/01/34

500,576‌

4,945,000

City

of

New

York

NY

3.200

12/01/26

4,647,311‌

2,215,000

Commonwealth

Financing

Authority

3.864

06/01/38

1,886,469‌

1,500,000

County

of

Miami-Dade

FL

Aviation

Revenue

2.218

10/01/22

1,500,000‌

2,500,000

County

of

Miami-Dade

FL

Aviation

Revenue

3.285

10/01/23

2,475,282‌

3,500,000

County

of

Miami-Dade

FL

Aviation

Revenue

2.504

10/01/24

3,356,347‌

2,250,000

County

of

Miami-Dade

FL

Aviation

Revenue

3.405

10/01/24

2,195,774‌

3,500,000

County

of

Miami-Dade

FL

Aviation

Revenue

2.604

10/01/25

3,292,000‌

2,380,000

County

of

Miami-Dade

FL

Aviation

Revenue

3.505

10/01/25

2,297,701‌

2,500,000

County

of

Miami-Dade

FL

Aviation

Revenue

2.704

10/01/26

2,312,612‌

2,000,000

County

of

Miami-Dade

FL

Aviation

Revenue

3.049

10/01/26

1,874,890‌

3,750,000

County

of

Miami-Dade

FL

Aviation

Revenue

3.612

10/01/26

3,591,305‌

470,000

County

of

Miami-Dade

FL

Aviation

Revenue

4.280

10/01/41

408,563‌

4,265,000

Denver

City

&

County

School

District

No.

1

3.598

12/15/27

4,006,312‌

4,805,000

Los

Angeles

County

Redevelopment

Refunding

Authority

Redev

Agency

Successor

Agy

3.375

09/01/35

3,999,476‌

6,650,000

Michigan

Finance

Authority

2.988

09/01/49

6,434,792‌

3,400,000

New

Jersey

Economic

Development

Authority

7.425

02/15/29

3,643,774‌

4,075,000

New

York

State

Dormitory

Authority

4.294

07/01/44

3,563,232‌

810,000

Oklahoma

City

Economic

Development

Trust

3.440

09/01/24

793,087‌

2,000,000

Port

of

Seattle

WA

3.471

05/01/31

1,792,018‌

1,625,000

Port

of

Seattle

WA

3.571

05/01/32

1,446,211‌

1,000,000

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

2.037

05/15/23

985,356‌

1,000,000

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

2.259

05/15/24

963,590‌

1,250,000

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

2.359

05/15/25

1,173,239‌

1,785,000

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

2.459

05/15/26

1,644,506‌

1,600,000

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

2.559

05/15/27

1,448,958‌

3,980,000

Rhode

Island

Convention

Center

Authority

3.195

05/15/26

3,758,950‌

6,365,000

San

Jose

Redevelopment

Agency

3.375

08/01/34

5,550,673‌

660,000

Santa

Ana

Community

Redevelopment

Agency

Successor

Agency

3.567

09/01/23

655,594‌

13,060,000

State

of

California

4.600

04/01/38

12,228,369‌

21,060,000

State

of

Illinois

5.100

06/01/33

20,084,002‌

9,900,000

State

of

Wisconsin

3.154

05/01/27

9,307,289‌

1,763,000

State

Public

School

Building

Authority

5.000

09/15/27

1,768,459‌

7,500,000

Texas

A&M

University

3.993

05/15/37

6,851,124‌

2,000,000

University

of

California

2.439

05/15/24

1,937,232‌

2,000,000

University

of

California

2.589

05/15/25

1,893,032‌

TOTAL

MUNICIPAL

BONDS

131,606,270‌

U.S.

TREASURY

SECURITIES

-

21.9%

1,900,000

United

States

Treasury

Bond

4.750

02/15/37

2,105,957‌

10,875,000

j

United

States

Treasury

Bond

3.500

02/15/39

10,353,765‌

16,015,000

United

States

Treasury

Bond

3.875

08/15/40

15,735,989‌

12,000,000

l

United

States

Treasury

Bond

3.125

11/15/41

10,438,594‌

1,380,000

United

States

Treasury

Bond

2.500

05/15/46

1,046,051‌

10,450,000

United

States

Treasury

Bond

3.000

05/15/47

8,747,385‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

211

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

U.S.

TREASURY

SECURITIES—continued

$

1,255,000

United

States

Treasury

Bond

2.750

%

08/15/47

$

1,002,725‌

42,835,000

United

States

Treasury

Bond

2.750

11/15/47

34,264,654‌

55,445,000

United

States

Treasury

Bond

3.000

02/15/48

46,677,759‌

510,000

United

States

Treasury

Bond

3.125

05/15/48

440,991‌

45,841,000

j

United

States

Treasury

Bond

3.375

11/15/48

41,727,845‌

21,615,032

k

United

States

Treasury

Inflation

Indexed

Bonds

0.500

04/15/24

21,003,169‌

1,000,000

United

States

Treasury

Note

0.125

05/31/23

974,062‌

25,000,000

United

States

Treasury

Note

0.125

08/31/23

24,073,242‌

330,000,000

United

States

Treasury

Note

0.250

03/15/24

311,192,577‌

25,000,000

United

States

Treasury

Note

2.250

03/31/24

24,250,000‌

21,300,000

United

States

Treasury

Note

2.625

04/30/24

20,705,930‌

180,795,000

United

States

Treasury

Note

2.500

05/31/24

175,568,895‌

11,870,000

United

States

Treasury

Note

3.250

08/31/24

11,655,784‌

41,815,000

United

States

Treasury

Note

4.250

09/30/24

41,834,601‌

1,875,000

United

States

Treasury

Note

2.875

06/15/25

1,808,276‌

19,690,000

United

States

Treasury

Note

3.500

09/15/25

19,288,509‌

8,150,000

United

States

Treasury

Note

0.875

09/30/26

7,169,771‌

175,570,000

United

States

Treasury

Note

1.250

12/31/26

155,948,681‌

61,753,000

e

United

States

Treasury

Note

3.125

08/31/27

59,234,635‌

675,000

United

States

Treasury

Note

1.000

07/31/28

568,556‌

218,000

United

States

Treasury

Note

1.125

08/31/28

184,559‌

6,300,000

United

States

Treasury

Note

1.375

10/31/28

5,396,836‌

7,290,000

United

States

Treasury

Note

3.250

06/30/29

6,967,930‌

5,075,000

United

States

Treasury

Note

3.125

08/31/29

4,816,492‌

6,775,000

United

States

Treasury

Note

1.250

08/15/31

5,475,311‌

173,655,000

United

States

Treasury

Note

2.750

08/15/32

158,785,791‌

2,850,000

United

States

Treasury

Note

1.875

02/15/41

2,018,713‌

4,507,000

United

States

Treasury

Note

1.750

08/15/41

3,081,485‌

33,830,000

United

States

Treasury

Note

2.000

11/15/41

24,212,237‌

370,024,100

j

United

States

Treasury

Note

2.375

02/15/42

283,530,967‌

108,615,000

United

States

Treasury

Note

3.250

05/15/42

96,395,812‌

54,623,000

e

United

States

Treasury

Note

3.375

08/15/42

49,476,489‌

215,177,000

United

States

Treasury

Note

2.250

02/15/52

156,339,539‌

140,497,500

United

States

Treasury

Note

2.875

05/15/52

117,820,325‌

30,000,000

United

States

Treasury

Note

3.000

08/15/52

25,889,062‌

TOTAL

U.S.

TREASURY

SECURITIES

1,988,209,951‌

TOTAL

GOVERNMENT

BONDS

4,121,992,668‌

(Cost

$4,549,710,774)

STRUCTURED

ASSETS

-

15.9%

ASSET

BACKED

-

6.3%

950,000

g

Affirm

Asset

Securitization

Trust

1.660

08/15/25

919,701‌

Series

-

2021

A

(Class

C)

4,000,000

g,i

AGL

CLO

19

Ltd

4.908

07/21/35

3,948,732‌

Series

-

2022

19A

(Class

B1)

3,375,000

g,i

AIMCO

CLO

16

Ltd

LIBOR

3

M

+

1.650%

5.729

01/17/35

3,170,654‌

Series

-

2021

16A

(Class

B)

10,000,000

g,i

AIMCO

CLO

Series

LIBOR

3

M

+

1.050%

3.760

04/20/34

9,547,820‌

Series

-

2017

AA

(Class

AR)

10,000,000

g,i

AIMCO

CLO

Series

LIBOR

3

M

+

1.500%

4.210

04/20/34

9,344,750‌

Series

-

2017

AA

(Class

BR)

1,000,000

AmeriCredit

Automobile

Receivables

Trust

2.130

03/18/26

938,333‌

Series

-

2020

2

(Class

D)

17,000,000

AmeriCredit

Automobile

Receivables

Trust

1.210

12/18/26

15,320,983‌

Series

-

2021

1

(Class

D)

2,000,000

g

AMSR

Trust

3.148

01/19/39

1,786,257‌

Series

-

2019

SFR1

(Class

C)

1,865,000

g

AMSR

Trust

3.247

01/19/39

1,649,381‌

Series

-

2019

SFR1

(Class

D)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

212

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

7,904,869

g

Apollo

aviation

securitization

2.798

%

01/15/47

$

6,248,058‌

Series

-

2021

2A

(Class

A)

2,722,500

g

Applebee's

Funding

LLC

4.194

06/05/49

2,579,536‌

Series

-

2019

1A

(Class

A2I)

55,677

†,g

Asset

Backed

Funding

Corp

NIM

Trust

5.900

07/26/35

1‌

Series

-

2005

WMC1

(Class

N1)

1,181,200

g

Avis

Budget

Rental

Car

Funding

AESOP

LLC

2.020

02/20/27

1,052,743‌

Series

-

2020

2A

(Class

A)

6,800,000

g

Avis

Budget

Rental

Car

Funding

AESOP

LLC

1.630

08/20/27

5,783,023‌

Series

-

2021

1A

(Class

B)

3,100,000

g

Avis

Budget

Rental

Car

Funding

AESOP

LLC

2.130

08/20/27

2,590,964‌

Series

-

2021

1A

(Class

C)

1,500,000

g,i

Bonanza

RE

Ltd

U.S.

Treasury

Bill

3

M

+

4.750%

7.995

12/23/24

600,000‌

Series

-

2020

A

(Class

A)

1,038,680

g

BRE

Grand

Islander

Timeshare

Issuer

LLC

3.280

09/26/33

973,711‌

Series

-

2019

A

(Class

A)

1,661,875

g

British

Airways

Pass

Through

Trust

3.800

09/20/31

1,492,543‌

Series

-

2018

1

(Class

AA)

5,410,705

g

Capital

Automotive

REIT

2.690

02/15/50

5,031,027‌

Series

-

2020

1A

(Class

A1)

3,904,317

g

Capital

Automotive

REIT

1.440

08/15/51

3,324,104‌

Series

-

2021

1A

(Class

A1)

8,393,000

g

Capital

Automotive

REIT

1.920

08/15/51

7,108,793‌

Series

-

2021

1A

(Class

A3)

1,440,000

CarMax

Auto

Owner

Trust

1.280

07/15/27

1,269,642‌

Series

-

2021

1

(Class

D)

5,796,750

g

Cars

Net

Lease

Mortgage

Notes

Series

2.010

12/15/50

4,878,344‌

Series

-

2020

1A

(Class

A1)

9,912,500

g

Cars

Net

Lease

Mortgage

Notes

Series

3.100

12/15/50

8,656,956‌

Series

-

2020

1A

(Class

A3)

2,500,000

Carvana

Auto

Receivables

Trust

1.270

03/10/28

2,341,510‌

Series

-

2021

N2

(Class

D)

9,150,000

Carvana

Auto

Receivables

Trust

1.720

09/11/28

8,747,488‌

Series

-

2021

N4

(Class

C)

3,340,000

g

Carvana

Auto

Receivables

Trust

4.130

12/11/28

3,148,689‌

Series

-

2022

N1

(Class

D)

4,150,000

g,i

Cayuga

Park

CLO

Ltd

LIBOR

3

M

+

1.650%

1.000

07/17/34

3,899,697‌

Series

-

2020

1A

(Class

B1R)

307,881

i

C-BASS

Trust

LIBOR

1

M

+

0.160%

3.244

07/25/36

292,435‌

Series

-

2006

CB6

(Class

A1)

8,817,685

†,g,i

CBRE

Realty

Finance

LIBOR

3

M

+

0.300%

0.438

04/07/52

22,044‌

Series

-

2007

1A

(Class

A2)

8,974,909

g

CF

Hippolyta

LLC

1.690

07/15/60

7,971,831‌

Series

-

2020

1

(Class

A1)

2,704,363

g

CF

Hippolyta

LLC

1.990

07/15/60

2,253,288‌

Series

-

2020

1

(Class

A2)

1,841,007

g

CF

Hippolyta

LLC

2.280

07/15/60

1,609,956‌

Series

-

2020

1

(Class

B1)

1,500,000

g,i

CIFC

Funding

Ltd

LIBOR

3

M

+

1.220%

3.930

07/20/30

1,473,570‌

Series

-

2017

3A

(Class

A1)

5,855,000

g,i

CIFC

Funding

Ltd

LIBOR

3

M

+

1.600%

0.000

10/20/34

5,488,038‌

Series

-

2020

2A

(Class

BR)

5,625,000

g,i

CIFC

Funding

Ltd

LIBOR

3

M

+

1.650%

4.162

07/15/36

5,294,683‌

Series

-

2020

1A

(Class

BR)

12,633

CIT

Group

Home

Equity

Loan

Trust

(Step

Bond)

6.200

02/25/30

12,122‌

Series

-

2002

1

(Class

AF6)

11,450,000

g

Cologix

Data

Centers

US

Issuer

LLC

3.300

12/26/51

10,208,853‌

Series

-

2021

1A

(Class

A2)

1,091,250

g

DB

Master

Finance

LLC

4.352

05/20/49

992,637‌

Series

-

2019

1A

(Class

A23)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

213

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

16,872,500

g

DB

Master

Finance

LLC

2.045

%

11/20/51

$

14,327,469‌

Series

-

2021

1A

(Class

A2I)

13,299,500

g

DB

Master

Finance

LLC

2.493

11/20/51

10,877,595‌

Series

-

2021

1A

(Class

A2II)

1,027,727

g

Diamond

Resorts

Owner

Trust

2.890

02/20/32

1,000,758‌

Series

-

2019

1A

(Class

A)

2,784,690

g

Diamond

Resorts

Owner

Trust

2.050

11/21/33

2,536,159‌

Series

-

2021

1A

(Class

B)

2,544,750

g

Domino's

Pizza

Master

Issuer

LLC

4.474

10/25/45

2,433,565‌

Series

-

2015

1A

(Class

A2II)

2,310,000

g

Domino's

Pizza

Master

Issuer

LLC

4.116

07/25/48

2,174,200‌

Series

-

2018

1A

(Class

A2I)

13,775,625

g

Domino's

Pizza

Master

Issuer

LLC

2.662

04/25/51

11,344,007‌

Series

-

2021

1A

(Class

A2I)

3,800,000

g,i

Dryden

49

Senior

Loan

Fund

LIBOR

3

M

+

1.600%

4.340

07/18/30

3,631,592‌

Series

-

2017

49A

(Class

BR)

11,800,000

g

DT

Auto

Owner

Trust

1.160

11/16/26

10,893,899‌

Series

-

2021

1A

(Class

D)

1,319,685

g,i

Ellington

Loan

Acquisition

Trust

LIBOR

1

M

+

1.100%

4.184

05/25/37

1,310,328‌

Series

-

2007

2

(Class

A2C)

22,540,000

g

Flexential

Issuer,

LLC

3.250

11/27/51

19,602,229‌

Series

-

2021

1A

(Class

A2)

16,927,417

g

FNA

VI

LLC

1.350

01/10/32

15,471,577‌

Series

-

2021

1A

(Class

A)

11,000,000

g,i

GRACIE

POINT

INTERNATIONAL

FUNDING

4.697

04/01/24

10,982,028‌

Series

-

2022

1A

(Class

A)

23,000,000

g,i

GRACIE

POINT

INTERNATIONAL

FUNDING

5.780

07/01/24

22,988,224‌

Series

-

2022

2A

(Class

A)

4,000,000

g,i

GRACIE

POINT

INTERNATIONAL

FUNDING

6.380

07/01/24

3,997,944‌

Series

-

2022

2A

(Class

B)

1,965,000

g

Hardee's

Funding

LLC

3.981

12/20/50

1,686,626‌

Series

-

2020

1A

(Class

A2)

728,763

g

HERO

Funding

Trust

3.190

09/20/48

657,070‌

Series

-

2017

3A

(Class

A1)

260,486

g

HERO

Funding

Trust

3.280

09/20/48

239,099‌

Series

-

2017

2A

(Class

A1)

947,392

g

HERO

Funding

Trust

3.950

09/20/48

866,627‌

Series

-

2017

3A

(Class

A2)

520,971

g

HERO

Funding

Trust

4.070

09/20/48

483,369‌

Series

-

2017

2A

(Class

A2)

11,850,000

g

Hertz

Vehicle

Financing

LLC

1.560

12/26/25

10,833,397‌

Series

-

2021

1A

(Class

B)

4,700,000

g

Hertz

Vehicle

Financing

LLC

4.120

09/25/26

4,467,272‌

Series

-

2022

4A

(Class

B)

3,700,000

g

Hertz

Vehicle

Financing

LLC

4.610

09/25/26

3,495,312‌

Series

-

2022

4A

(Class

C)

549,189

g

Hilton

Grand

Vacations

Trust

2.660

12/26/28

540,418‌

Series

-

2017

AA

(Class

A)

411,892

g

Hilton

Grand

Vacations

Trust

2.960

12/26/28

402,101‌

Series

-

2017

AA

(Class

B)

929,592

g

Hilton

Grand

Vacations

Trust

2.340

07/25/33

870,276‌

Series

-

2019

AA

(Class

A)

79,432

i

Home

Equity

Asset

Trust

LIBOR

1

M

+

1.500%

3.986

06/25/33

78,068‌

Series

-

2003

1

(Class

M1)

3,699,554

g

Horizon

Aircraft

Finance

II

Ltd

3.721

07/15/39

3,091,147‌

Series

-

2019

1

(Class

A)

4,246,653

g

Horizon

Aircraft

Finance

III

Ltd

3.425

11/15/39

3,554,934‌

Series

-

2019

2

(Class

A)

3,450,000

g

Hpefs

Equipment

Trust

4.430

09/20/29

3,257,070‌

Series

-

2022

2A

(Class

C)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

214

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

3,750,000

†,g

Industrial

DPR

Funding

Ltd

5.380

%

04/15/34

$

3,348,075‌

Series

-

2022

1A

(Class

1)

739,894

g,i

Invitation

Homes

Trust

LIBOR

1

M

+

0.950%

3.943

03/17/37

732,756‌

Series

-

2018

SFR1

(Class

B)

799,963

g,i

Invitation

Homes

Trust

LIBOR

1

M

+

1.250%

4.243

01/17/38

784,189‌

Series

-

2018

SFR4

(Class

B)

5,250,000

g,i

La

Vie

Re

Ltd

LIBOR

3

M

+

2.850%

5.252

10/06/23

5,145,000‌

Series

-

2020

A

(Class

A)

7,750,000

g,i

Madison

Park

Funding

LIX

Ltd

LIBOR

3

M

+

2.100%

6.294

01/18/34

7,180,763‌

Series

-

2021

59A

(Class

C)

3,500,000

g,i

Madison

Park

Funding

LV

Ltd

5.441

07/18/35

3,501,312‌

Series

-

2022

55A

(Class

B1)

4,000,000

g,i

Magnetite

XIX

Ltd

LIBOR

3

M

+

1.550%

4.290

04/17/34

3,749,180‌

Series

-

2017

19A

(Class

B1R)

530,000

g,i

Magnetite

XVIII

Ltd

LIBOR

3

M

+

1.500%

4.405

11/15/28

508,881‌

Series

-

2016

18A

(Class

BR)

2,575,830

g

MAPS

Trust

2.521

06/15/46

2,112,179‌

Series

-

2021

1A

(Class

A)

2,700,000

g,i

Massachusetts

St

LIBOR

3

M

+

1.650%

5.729

01/15/35

2,534,695‌

Series

-

2021

3A

(Class

B)

5,250,000

g,i

MSCG

Trust

3.577

06/07/35

4,433,123‌

Series

-

2015

ALDR

(Class

C)

1,750,000

g,i

MSCG

Trust

3.577

06/07/35

1,410,757‌

Series

-

2015

ALDR

(Class

D)

1,464,181

g

MVW

LLC

1.830

05/20/39

1,305,489‌

Series

-

2021

2A

(Class

B)

3,165,455

g

MVW

LLC

1.440

01/22/41

2,881,616‌

Series

-

2021

1WA

(Class

B)

1,994,237

g

MVW

LLC

1.940

01/22/41

1,766,307‌

Series

-

2021

1WA

(Class

C)

871,662

g

MVW

Owner

Trust

2.750

12/20/34

847,161‌

Series

-

2017

1A

(Class

B)

1,585,501

g

MVW

Owner

Trust

3.000

11/20/36

1,492,087‌

Series

-

2019

1A

(Class

B)

2,059,005

g

Navient

Private

Education

Refi

Loan

Trust

1.310

01/15/69

1,870,331‌

Series

-

2020

HA

(Class

A)

1,571,977

g

Navient

Student

Loan

Trust

3.390

12/15/59

1,488,825‌

Series

-

2019

BA

(Class

A2A)

16,000,000

g,i

Neuberger

Berman

Loan

Advisers

CLO

31

Ltd

LIBOR

3

M

+

1.550%

4.260

04/20/31

15,189,232‌

Series

-

2019

31A

(Class

BR)

6,750,000

g,i

Neuberger

Berman

Loan

Advisers

Clo

40

Ltd

LIBOR

3

M

+

1.400%

4.140

04/16/33

6,362,516‌

Series

-

2021

40A

(Class

B)

5,499,549

g

Oak

Street

Investment

Grade

Net

Lease

Fund

Series

1.480

01/20/51

4,858,423‌

Series

-

2021

1A

(Class

A1)

4,928,628

g

Oak

Street

Investment

Grade

Net

Lease

Fund

Series

2.380

11/20/51

4,299,844‌

Series

-

2021

2A

(Class

A1)

5,450,000

g,i

OHA

Credit

Funding

10

Ltd

LIBOR

3

M

+

1.650%

5.844

01/18/36

5,119,795‌

Series

-

2021

10A

(Class

B)

5,956,759

g

OneMain

Financial

Issuance

Trust

3.840

05/14/32

5,920,039‌

Series

-

2020

1A

(Class

A)

10,000,000

g

OneMain

Financial

Issuance

Trust

1.750

09/14/35

8,803,718‌

Series

-

2020

2A

(Class

A)

7,250,000

g

Oportun

Funding

XIV

LLC

1.210

03/08/28

6,731,320‌

Series

-

2021

A

(Class

A)

3,515,000

g

Oportun

Issuance

Trust

1.960

05/08/31

3,119,575‌

Series

-

2021

B

(Class

B)

491,710

g

Orange

Lake

Timeshare

Trust

3.100

11/08/30

476,449‌

Series

-

2018

A

(Class

A)

5,300,000

g

PFS

Financing

Corp

1.270

06/15/25

5,153,466‌

Series

-

2020

A

(Class

A)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

215

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

2,500,000

g

PFS

Financing

Corp

1.000

%

10/15/25

$

2,398,133‌

Series

-

2020

E

(Class

A)

3,688,000

g

PFS

Financing

Corp

0.970

02/15/26

3,476,609‌

Series

-

2020

G

(Class

A)

3,000,000

g

PFS

Financing

Corp

0.710

04/15/26

2,798,928‌

Series

-

2021

A

(Class

A)

6,750,000

g

PFS

Financing

Corp

0.960

04/15/26

6,266,874‌

Series

-

2021

A

(Class

B)

1,500,000

g

Progress

Residential

Trust

2.711

11/17/40

1,200,095‌

Series

-

2021

SFR9

(Class

D)

1,500,000

g

Purchasing

Power

Funding

LLC

1.570

10/15/25

1,432,442‌

Series

-

2021

A

(Class

A)

3,566,134

g

Renew

3.950

09/20/53

3,251,795‌

Series

-

2018

1

(Class

A)

6,600,000

Santander

Drive

Auto

Receivables

Trust

2.220

09/15/26

6,444,586‌

Series

-

2020

2

(Class

D)

11,689,450

g

SERVPRO

Master

Issuer

LLC

3.882

10/25/49

10,330,668‌

Series

-

2019

1A

(Class

A2)

3,308,125

g

SERVPRO

Master

Issuer

LLC

2.394

04/25/51

2,608,801‌

Series

-

2021

1A

(Class

A2)

3,038,914

†,g

Settlement

Fee

Finance

LLC

3.840

11/01/49

2,920,792‌

Series

-

2019

1A

(Class

A)

1,052,862

g

Sierra

Timeshare

Receivables

Funding

LLC

3.650

06/20/35

1,034,748‌

Series

-

2018

2A

(Class

B)

891,099

g

Sierra

Timeshare

Receivables

Funding

LLC

3.200

01/20/36

867,260‌

Series

-

2019

1A

(Class

A)

1,936,224

g

Sierra

Timeshare

Receivables

Funding

LLC

0.990

11/20/37

1,794,163‌

Series

-

2021

1A

(Class

A)

2,099,389

g

Sierra

Timeshare

Receivables

Funding

LLC

1.340

11/20/37

1,947,127‌

Series

-

2021

1A

(Class

B)

1,163,910

g

Sierra

Timeshare

Receivables

Funding

LLC

1.790

11/20/37

1,065,570‌

Series

-

2021

1A

(Class

C)

2,460,007

g

SMB

Private

Education

Loan

Trust

2.430

02/17/32

2,372,121‌

Series

-

2016

B

(Class

A2A)

1,759,848

g

SMB

Private

Education

Loan

Trust

2.880

09/15/34

1,696,178‌

Series

-

2017

A

(Class

A2A)

1,515,325

g

SMB

Private

Education

Loan

Trust

2.820

10/15/35

1,448,563‌

Series

-

2017

B

(Class

A2A)

471,017

g

SoFi

Professional

Loan

Program

LLC

2.340

04/25/33

462,704‌

Series

-

2016

D

(Class

A2B)

208,711

g

SoFi

Professional

Loan

Program

LLC

2.400

03/26/40

207,398‌

Series

-

2017

A

(Class

A2B)

427,743

g

SoFi

Professional

Loan

Program

LLC

2.740

05/25/40

422,992‌

Series

-

2017

B

(Class

A2FX)

229,820

g

SoFi

Professional

Loan

Program

LLC

2.630

07/25/40

226,018‌

Series

-

2017

C

(Class

A2B)

363,622

g

SoFi

Professional

Loan

Program

LLC

2.720

11/26/40

359,859‌

Series

-

2017

E

(Class

A2B)

1,576,064

g

SoFi

Professional

Loan

Program

LLC

2.840

01/25/41

1,536,958‌

Series

-

2017

F

(Class

A2FX)

1,085,699

g

SoFi

Professional

Loan

Program

LLC

3.690

06/15/48

1,055,555‌

Series

-

2019

A

(Class

A2FX)

939,824

†,g

SolarCity

LMC

4.800

11/20/38

900,727‌

Series

-

2013

1

(Class

A)

13,630,000

g

Sonic

Capital

LLC

3.845

01/20/50

12,347,894‌

Series

-

2020

1A

(Class

A2I)

4,810,701

g

SpringCastle

America

Funding

LLC

1.970

09/25/37

4,397,450‌

Series

-

2020

AA

(Class

A)

3,950,000

g

Stack

Infrastructure

Issuer

LLC

1.893

08/25/45

3,506,885‌

Series

-

2020

1A

(Class

A2)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

216

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

163,458

i

Structured

Asset

Investment

Loan

Trust

LIBOR

1

M

+

0.900%

3.984

%

09/25/34

$

158,489‌

Series

-

2004

8

(Class

M1)

1,800,250

g

Taco

Bell

Funding

LLC

4.970

05/25/46

1,732,984‌

Series

-

2016

1A

(Class

A23)

15,139,595

g

Taco

Bell

Funding

LLC

1.946

08/25/51

12,646,755‌

Series

-

2021

1A

(Class

A2I)

9,766,200

g

Taco

Bell

Funding

LLC

2.294

08/25/51

7,803,604‌

Series

-

2021

1A

(Class

A2II)

2,070,101

g

Tesla

Auto

Lease

Trust

0.680

12/20/23

2,052,298‌

Series

-

2020

A

(Class

A3)

1,000,000

g

Tesla

Auto

Lease

Trust

0.780

12/20/23

985,750‌

Series

-

2020

A

(Class

A4)

5,250,000

g,i

TICP

CLO

VIII

Ltd

LIBOR

3

M

+

1.700%

5.943

10/20/34

4,941,263‌

Series

-

2017

8A

(Class

A2R)

650,000

g

Tricon

American

Homes

Trust

2.049

07/17/38

558,615‌

Series

-

2020

SFR1

(Class

B)

2,558,164

United

Airlines

Pass

Through

Trust

5.875

10/15/27

2,467,429‌

Series

-

2020

A

(Class

A)

3,800,000

g,i

Ursa

Re

II

Ltd

U.S.

Treasury

Bill

3

M

+

3.750%

7.000

12/07/23

3,686,000‌

Series

-

2020

A

(Class

AA)

6,230,832

g

Vine

2.790

11/15/50

5,448,809‌

Series

-

2020

1A

(Class

A)

4,200,000

g,i

Vitality

Re

X

Ltd

U.S.

Treasury

Bill

3

M

+

1.750%

4.995

01/10/23

4,178,160‌

Series

-

2020

A

(Class

A)

10,033,000

g

Wendy's

Funding

LLC

2.370

06/15/51

7,975,934‌

Series

-

2021

1A

(Class

A2I)

TOTAL

ASSET

BACKED

568,610,343‌

OTHER

MORTGAGE

BACKED

-

9.6%

2,326,450

g,i

ACRE

Commercial

Mortgage

Ltd

LIBOR

1

M

+

0.830%

3.823

12/18/37

2,305,177‌

Series

-

2021

FL4

(Class

A)

85,863

g,i

Agate

Bay

Mortgage

Trust

3.500

09/25/45

78,220‌

Series

-

2015

6

(Class

A9)

4,335,000

g,i

Angel

Oak

Mortgage

Trust

2.837

11/25/66

2,893,181‌

Series

-

2021

8

(Class

A3)

1,870,000

g

BAMLL

Commercial

Mortgage

Securities

Trust

3.490

04/14/33

1,722,561‌

Series

-

2015

200P

(Class

B)

2,486,000

Banc

of

America

Commercial

Mortgage

Trust

3.705

09/15/48

2,361,146‌

Series

-

2015

UBS7

(Class

A4)

1,910,000

i

Banc

of

America

Commercial

Mortgage

Trust

4.484

09/15/48

1,776,489‌

Series

-

2015

UBS7

(Class

B)

5,257,543

Banc

of

America

Commercial

Mortgage

Trust

3.366

02/15/50

5,056,907‌

Series

-

2017

BNK3

(Class

ASB)

5,000,000

BANK

3.731

11/15/50

4,475,777‌

Series

-

2017

BNK8

(Class

AS)

1,500,000

i

BANK

4.056

11/15/50

1,334,697‌

Series

-

2017

BNK8

(Class

B)

1,000,000

i

BANK

4.200

11/15/50

862,491‌

Series

-

2017

BNK8

(Class

C)

3,750,000

g

BANK

2.500

10/17/52

2,545,648‌

Series

-

2019

BN21

(Class

D)

1,000,000

BANK

3.093

10/17/52

828,345‌

Series

-

2019

BN21

(Class

AS)

2,500,000

BANK

3.203

12/15/52

2,098,434‌

Series

-

2019

BN23

(Class

AS)

1,637,000

BANK

3.455

12/15/52

1,356,279‌

Series

-

2019

BN23

(Class

B)

7,087,991

BANK

3.289

07/15/60

6,801,844‌

Series

-

2017

BNK6

(Class

ASB)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

217

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

2,000,000

i

BANK

3.283

%

11/15/62

$

1,674,397‌

Series

-

2019

BN24

(Class

AS)

5,265,172

g,i

Bayview

MSR

Opportunity

Master

Fund

Trust

3.000

10/25/51

4,237,235‌

Series

-

2021

6

(Class

A19)

7,943,904

g,i

Bayview

MSR

Opportunity

Master

Fund

Trust

3.000

02/25/52

6,392,989‌

Series

-

2022

5

(Class

A19)

1,250,000

g,i

BBCMS

Mortgage

Trust

4.409

08/05/38

884,464‌

Series

-

2018

CHRS

(Class

E)

1,500,000

g

BBCMS

Trust

4.798

08/10/35

1,315,314‌

Series

-

2015

SRCH

(Class

C)

2,575,000

g,i

Benchmark

Mortgage

Trust

2.791

09/15/48

2,088,335‌

Series

-

2020

IG2

(Class

AM)

2,500,000

g,i

Benchmark

Mortgage

Trust

3.232

09/15/48

2,058,401‌

Series

-

2020

IG3

(Class

AS)

2,500,000

g,i

Benchmark

Mortgage

Trust

3.654

09/15/48

2,153,513‌

Series

-

2020

IG3

(Class

BXA)

1,380,000

Benchmark

Mortgage

Trust

4.016

03/15/52

1,283,160‌

Series

-

2019

B9

(Class

A5)

1,250,000

i

Benchmark

Mortgage

Trust

4.971

03/15/52

1,099,002‌

Series

-

2019

B9

(Class

C)

550,000

Benchmark

Mortgage

Trust

3.419

08/15/52

472,921‌

Series

-

2019

B12

(Class

AS)

1,200,000

i

Benchmark

Mortgage

Trust

4.510

05/15/53

1,148,201‌

Series

-

2018

B7

(Class

A4)

5,250,000

i

Benchmark

Mortgage

Trust

2.244

08/15/54

3,870,192‌

Series

-

2021

B28

(Class

B)

9,000,000

Benchmark

Mortgage

Trust

2.429

08/15/54

6,813,697‌

Series

-

2021

B28

(Class

AS)

1,680,000

g

Benchmark

Mortgage

Trust

2.500

12/15/62

1,136,110‌

Series

-

2019

B14

(Class

D)

1,650,000

g,i

BX

TRUST

5.794

08/15/39

1,640,860‌

Series

-

2022

PSB

(Class

B)

4,500,000

g,i

BXP

Trust

2.868

01/15/44

3,024,003‌

Series

-

2021

601L

(Class

D)

6,500,000

i

CD

Mortgage

Trust

3.879

11/10/49

5,810,302‌

Series

-

2016

CD2

(Class

B)

3,030,000

i

CD

Mortgage

Trust

4.114

11/10/49

2,507,647‌

Series

-

2016

CD2

(Class

C)

7,980,078

CD

Mortgage

Trust

3.453

02/10/50

7,637,615‌

Series

-

2017

CD3

(Class

AAB)

4,750,000

CD

Mortgage

Trust

3.833

02/10/50

4,313,584‌

Series

-

2017

CD3

(Class

AS)

6,635,000

i

CD

Mortgage

Trust

3.984

02/10/50

5,881,176‌

Series

-

2017

CD3

(Class

B)

3,630,000

i

CD

Mortgage

Trust

4.699

02/10/50

3,200,378‌

Series

-

2017

CD3

(Class

C)

5,000,000

i

CD

Mortgage

Trust

3.684

08/15/50

4,520,211‌

Series

-

2017

CD5

(Class

AS)

3,600,000

CD

Mortgage

Trust

2.812

08/15/57

3,257,746‌

Series

-

2019

CD8

(Class

ASB)

49,241

g,i

CF

Mortgage

Trust

2.840

04/15/25

46,623‌

Series

-

2020

P1

(Class

A1)

1,750,000

g,i

CF

Mortgage

Trust

3.603

04/15/52

1,752,446‌

Series

-

2020

P1

(Class

A2)

1,175,400

CGMS

Commercial

Mortgage

Trust

3.458

08/15/50

1,082,757‌

Series

-

2017

B1

(Class

A4)

80,875

i

CHL

Mortgage

Pass-Through

Trust

2.522

02/20/35

80,832‌

Series

-

2004

HYB9

(Class

1A1)

1,750,000

g,i

Citigroup

Commercial

Mortgage

Trust

3.635

05/10/35

1,679,569‌

Series

-

2013

375P

(Class

B)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

218

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

2,000,000

g

Citigroup

Commercial

Mortgage

Trust

3.896

%

05/10/36

$

1,960,972‌

Series

-

2019

PRM

(Class

C)

1,000,000

g,i

Citigroup

Commercial

Mortgage

Trust

4.631

07/10/47

913,630‌

Series

-

2014

GC23

(Class

D)

500,000

i

Citigroup

Commercial

Mortgage

Trust

3.758

04/10/48

466,206‌

Series

-

2015

GC29

(Class

B)

2,000,000

i

Citigroup

Commercial

Mortgage

Trust

4.279

04/10/48

1,851,559‌

Series

-

2015

GC29

(Class

C)

6,000,000

g,i

COMM

Mortgage

Trust

3.712

10/10/29

5,560,359‌

Series

-

2017

PANW

(Class

C)

131,100

g

COMM

Mortgage

Trust

3

.178

02/10/35

121,663‌

Series

-

2015

3BP

(Class

A)

1,895,719

COMM

Mortgage

Trust

2.853

10/15/45

1,891,946‌

Series

-

2012

CR4

(Class

A3)

1,500,000

g,i

COMM

Mortgage

Trust

5.031

08/10/46

1,467,926‌

Series

-

2013

CR10

(Class

C)

1,135,000

COMM

Mortgage

Trust

4.199

03/10/47

1,106,413‌

Series

-

2014

UBS2

(Class

AM)

2,537,089

COMM

Mortgage

Trust

4.701

03/10/47

2,472,057‌

Series

-

2014

UBS2

(Class

B)

1,045,000

i

COMM

Mortgage

Trust

4.947

03/10/47

999,213‌

Series

-

2014

UBS2

(Class

C)

1,200,000

i

COMM

Mortgage

Trust

5.169

04/10/47

1,153,867‌

Series

-

2014

LC15

(Class

C)

750,000

COMM

Mortgage

Trust

4.174

05/10/47

727,513‌

Series

-

2014

CR17

(Class

AM)

3,896,000

i

COMM

Mortgage

Trust

4.896

06/10/47

3,700,125‌

Series

-

2014

UBS3

(Class

C)

5,150,000

g,i

COMM

Mortgage

Trust

4.926

06/10/47

4,668,043‌

Series

-

2014

UBS3

(Class

D)

6,400,000

COMM

Mortgage

Trust

3.917

10/10/47

6,223,030‌

Series

-

2014

LC17

(Class

A5)

916,352

COMM

Mortgage

Trust

3.040

02/10/48

895,001‌

Series

-

2015

LC19

(Class

ASB)

2,498,000

i

COMM

Mortgage

Trust

3

.829

02/10/48

2,343,488‌

Series

-

2015

LC19

(Class

B)

2,497,000

g

COMM

Mortgage

Trust

3.000

03/10/48

1,983,468‌

Series

-

2015

CR22

(Class

E)

575,000

i

COMM

Mortgage

Trust

3.603

03/10/48

545,577‌

Series

-

2015

CR22

(Class

AM)

4,250,000

i

COMM

Mortgage

Trust

3.926

03/10/48

3,978,598‌

Series

-

2015

CR22

(Class

B)

1,000,000

i

COMM

Mortgage

Trust

4.207

03/10/48

923,767‌

Series

-

2015

CR22

(Class

C)

2,000,000

g,i

COMM

Mortgage

Trust

4.207

03/10/48

1,757,670‌

Series

-

2015

CR22

(Class

D)

2,000,000

COMM

Mortgage

Trust

3.801

05/10/48

1,887,681‌

Series

-

2015

CR23

(Class

AM)

3,936,016

i

COMM

Mortgage

Trust

4.183

05/10/48

3,708,404‌

Series

-

2015

CR23

(Class

B)

2,500,000

i

COMM

Mortgage

Trust

4.428

05/10/48

2,335,042‌

Series

-

2015

CR23

(Class

C)

2,500,000

i

COMM

Mortgage

Trust

4.428

05/10/48

2,133,378‌

Series

-

2015

CR23

(Class

D)

1,717,386

COMM

Mortgage

Trust

3.432

08/10/48

1,636,836‌

Series

-

2015

CR24

(Class

A4)

1,500,000

i

COMM

Mortgage

Trust

3.463

08/10/48

1,260,990‌

Series

-

2015

CR24

(Class

D)

3,640,000

i

COMM

Mortgage

Trust

4.028

08/10/48

3,449,122‌

Series

-

2015

CR24

(Class

AM)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

219

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

2,000,000

i

COMM

Mortgage

Trust

4.487

%

08/10/48

$

1,834,035‌

Series

-

2015

CR24

(Class

C)

1,000,000

i

COMM

Mortgage

Trust

4.487

08/10/48

940,186‌

Series

-

2015

CR24

(Class

B)

2,250,000

i

COMM

Mortgage

Trust

4.669

08/10/48

2,103,763‌

Series

-

2015

CR25

(Class

B)

2,600,000

COMM

Mortgage

Trust

3.630

10/10/48

2,476,459‌

Series

-

2015

CR26

(Class

A4)

1,000,000

COMM

Mortgage

Trust

3.984

10/10/48

941,033‌

Series

-

2015

CR27

(Class

AM)

1,000,000

i

COMM

Mortgage

Trust

4.619

10/10/48

940,427‌

Series

-

2015

CR26

(Class

B)

3,306,000

i

COMM

Mortgage

Trust

4.619

10/10/48

3,030,912‌

Series

-

2015

CR26

(Class

C)

7,724,000

i

COMM

Mortgage

Trust

4.718

10/10/48

7,099,084‌

Series

-

2015

LC23

(Class

C)

1,080,000

COMM

Mortgage

Trust

3.762

02/10/49

1,025,501‌

Series

-

2016

CR28

(Class

A4)

5,000,000

i

COMM

Mortgage

Trust

4.758

02/10/49

4,735,386‌

Series

-

2016

CR28

(Class

B)

5,000,000

COMM

Mortgage

Trust

3.263

08/15/57

4,224,181‌

Series

-

2019

GC44

(Class

AM)

1,848,264

i

Connecticut

Avenue

Securities

Trust

LIBOR

1

M

+

2.600%

5.684

05/25/24

1,845,477‌

Series

-

2014

C02

(Class

1M2)

1,944,136

i

Connecticut

Avenue

Securities

Trust

LIBOR

1

M

+

3.000%

6.084

07/25/24

1,953,448‌

Series

-

2014

C03

(Class

1M2)

790,000

g,i

Connecticut

Avenue

Securities

Trust

3.831

10/25/41

751,492‌

Series

-

2021

R01

(Class

1M2)

1,400,000

g,i

Connecticut

Avenue

Securities

Trust

5.581

11/25/41

1,268,839‌

Series

-

2021

R02

(Class

2B1)

4,965,000

g,i

Connecticut

Avenue

Securities

Trust

5.031

12/25/41

4,223,616‌

Series

-

2021

R03

(Class

1B1)

13,760,000

g,i

Connecticut

Avenue

Securities

Trust

5.781

03/25/42

13,112,044‌

Series

-

2022

R03

(Class

1M2)

3,999,000

g,i

Connecticut

Avenue

Securities

Trust

5.281

04/25/42

3,699,941‌

Series

-

2022

R05

(Class

2M2)

7,725,000

g,i

Connecticut

Avenue

Securities

Trust

SOFR

+

3.600%

5.905

07/25/42

7,334,363‌

Series

-

2022

R08

(Class

1M2)

1,000,000

g,i

CPT

Mortgage

Trust

3.097

11/13/39

707,214‌

Series

-

2019

CPT

(Class

E)

116,200

g,i

Credit

Suisse

Mortgage

Capital

Certificates

LIBOR

1

M

+

0.980%

3.798

05/15/36

114,683‌

Series

-

2019

ICE4

(Class

A)

3,000,000

g,i

Credit

Suisse

Mortgage

Capital

Certificates

LIBOR

1

M

+

1.600%

4.418

05/15/36

2,913,257‌

Series

-

2019

ICE4

(Class

D)

7,144,757

g,i

Credit

Suisse

Mortgage

Capital

Certificates

2.405

10/25/66

6,010,284‌

Series

-

2021

NQM8

(Class

A3)

2,500,000

g,i

CSMC

Series

3.388

10/25/59

2,186,474‌

Series

-

2019

NQM1

(Class

M1)

4,750,000

DBGS

Mortgage

Trust

4.466

10/15/51

4,536,849‌

Series

-

2018

C1

(Class

A4)

5,000,000

DBJPM

Mortgage

Trust

2.340

08/15/53

3,900,232‌

Series

-

2020

C9

(Class

AM)

1,200,000

g

DBUBS

Mortgage

Trust

3.452

10/10/34

1,133,281‌

Series

-

2017

BRBK

(Class

A)

2,000,000

g,i

EQUS

Mortgage

Trust

LIBOR

1

M

+

2.300%

5.118

10/15/38

1,866,209‌

Series

-

2021

EQAZ

(Class

E)

1,248,047

g,i

Flagstar

Mortgage

Trust

4.044

10/25/47

1,126,006‌

Series

-

2017

2

(Class

B3)

79,884

g,i

Flagstar

Mortgage

Trust

4.000

09/25/48

76,341‌

Series

-

2018

5

(Class

A11)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

220

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

2,014,725

g,i

Flagstar

Mortgage

Trust

2.500

%

04/25/51

$

1,589,612‌

Series

-

2021

2

(Class

A4)

6,481,461

g,i

Flagstar

Mortgage

Trust

2.500

06/01/51

5,113,854‌

Series

-

2021

4

(Class

A21)

23,536,662

g,i

Flagstar

Mortgage

Trust

3.000

10/25/51

18,941,519‌

Series

-

2021

10INV

(Class

A17)

5,440,000

g,i

Freddie

Mac

STACR

REMIC

Trust

4.781

01/25/42

4,764,892‌

Series

-

2022

DNA1

(Class

M2)

25,350,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5.181

04/25/42

23,986,388‌

Series

-

2022

DNA3

(Class

M1B)

10,500,000

g

GS

Mortgage

Securities

Corp

II

3.419

10/10/32

10,486,051‌

Series

-

2017

SLP

(Class

A)

1,238,000

g,i

GS

Mortgage

Securities

Corp

II

3.591

09/10/37

1,099,548‌

Series

-

2017

375H

(Class

A)

2,590,000

i

GS

Mortgage

Securities

Corp

II

3.777

05/10/50

2,439,355‌

Series

-

2015

GC30

(Class

AS)

3,010,000

i

GS

Mortgage

Securities

Corp

II

3.992

03/10/51

2,818,780‌

Series

-

2018

GS9

(Class

A4)

1,500,000

i

GS

Mortgage

Securities

Corp

II

4.155

07/10/51

1,407,047‌

Series

-

2018

GS10

(Class

A5)

2,000,000

g,i

GS

Mortgage

Securities

Trust

LIBOR

1

M

+

1.700%

4.518

07/15/31

1,892,620‌

Series

-

2018

TWR

(Class

C)

2,500,000

g,i

GS

Mortgage

Securities

Trust

4.285

02/10/46

2,472,886‌

Series

-

2013

GC10

(Class

C)

2,950,000

i

GS

Mortgage

Securities

Trust

4.454

02/10/48

2,750,623‌

Series

-

2015

GC28

(Class

C)

3,500,000

i

GS

Mortgage

Securities

Trust

4.018

07/10/48

3,307,159‌

Series

-

2015

GC32

(Class

AS)

3,779,000

i

GS

Mortgage

Securities

Trust

4.115

10/10/49

3,322,663‌

Series

-

2016

GS3

(Class

C)

3,803,000

i

GS

Mortgage

Securities

Trust

4.079

11/10/49

3,276,335‌

Series

-

2016

GS4

(Class

C)

6,799,688

GS

Mortgage

Securities

Trust

3.467

03/10/50

6,538,856‌

Series

-

2017

GS5

(Class

AAB)

9,100,951

GS

Mortgage

Securities

Trust

3.674

03/10/50

8,504,190‌

Series

-

2017

GS5

(Class

A4)

4,300,000

GS

Mortgage

Securities

Trust

3.433

05/10/50

3,973,047‌

Series

-

2017

GS6

(Class

A3)

3,000,000

GS

Mortgage

Securities

Trust

3.837

11/10/50

2,797,978‌

Series

-

2017

GS8

(Class

ABP)

2,500,000

i

GS

Mortgage

Securities

Trust

4.480

11/10/50

2,177,259‌

Series

-

2017

GS8

(Class

C)

1,260,000

GS

Mortgage

Securities

Trust

3.968

02/10/52

1,169,635‌

Series

-

2019

GC38

(Class

A4)

2,400,000

i

GS

Mortgage

Securities

Trust

4.158

02/10/52

2,180,775‌

Series

-

2019

GC38

(Class

AS)

1,000,000

i

GS

Mortgage

Securities

Trust

4.761

02/10/52

868,452‌

Series

-

2019

GC38

(Class

C)

1,500,000

g,i

GS

Mortgage

Securities

Trust

3.501

07/10/52

1,457,985‌

Series

-

2019

GC40

(Class

DBB)

4,300,000

g,i

GS

Mortgage

Securities

Trust

3.668

07/10/52

4,168,232‌

Series

-

2019

GC40

(Class

DBC)

1,361,000

i

GS

Mortgage

Securities

Trust

3.405

02/13/53

1,122,265‌

Series

-

2020

GC45

(Class

B)

5,500,000

GS

Mortgage

Securities

Trust

2.012

12/12/53

4,290,562‌

Series

-

2020

GSA2

(Class

A5)

172,179

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

4.000

11/25/49

164,192‌

Series

-

2019

PJ2

(Class

A1)

449,424

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

4.000

11/25/49

428,576‌

Series

-

2019

PJ2

(Class

A4)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

221

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

1,817,083

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3.500

%

07/25/50

$

1,590,618‌

Series

-

2020

PJ2

(Class

A4)

827,056

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3.000

01/25/51

698,901‌

Series

-

2020

PJ4

(Class

A4)

625,956

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3.000

03/27/51

522,423‌

Series

-

2020

PJ5

(Class

A4)

2,115,449

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

2.500

05/25/51

1,672,033‌

Series

-

2020

PJ6

(Class

A4)

4,810,843

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

2.500

10/25/51

3,795,742‌

Series

-

2021

PJ5

(Class

A4)

11,731,802

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3.000

06/25/52

9,484,601‌

Series

-

2022

PJ2

(Class

A36)

3,714,299

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3.000

09/25/52

3,002,833‌

Series

-

2022

PJ4

(Class

A36)

1,025,094

g,i

GS

Mortgage-Backed

Securities

Trust

3.654

05/25/50

824,073‌

Series

-

2020

PJ1

(Class

B2)

2,754,948

g,i

GS

Mortgage-Backed

Securities

Trust

2.500

07/25/51

2,142,773‌

Series

-

2021

PJ2

(Class

A4)

13,667,066

g,i

GS

Mortgage-Backed

Securities

Trust

2.500

11/25/51

10,752,644‌

Series

-

2021

PJ6

(Class

A4)

19,681,523

g,i

GS

Mortgage-Backed

Securities

Trust

2.500

01/25/52

15,528,667‌

Series

-

2021

PJ7

(Class

A4)

10,165,483

g,i

GS

Mortgage-Backed

Securities

Trust

2.500

01/25/52

8,020,538‌

Series

-

2021

PJ8

(Class

A4)

7,215,934

g,i

GS

Mortgage-Backed

Securities

Trust

3.000

07/25/52

5,807,143‌

Series

-

2022

INV1

(Class

A4)

8,057,442

g,i

GS

Mortgage-Backed

Securities

Trust

3.000

09/25/52

6,484,360‌

Series

-

2022

HP1

(Class

A4)

6,396,422

g,i

GS

Mortgage-Backed

Securities

Trust

3.000

10/25/52

5,147,627‌

Series

-

2022

PJ5

(Class

A36)

826,379

i

HarborView

Mortgage

Loan

Trust

LIBOR

1

M

+

0.620%

3.613

08/19/45

760,644‌

Series

-

2005

11

(Class

2A1A)

2,000,000

g

Hudson

Yards

Mortgage

Trust

2.835

08/10/38

1,797,262‌

Series

-

2016

10HY

(Class

A)

3,000,000

g,i

Hudson

Yards

Mortgage

Trust

3.076

08/10/38

2,642,975‌

Series

-

2016

10HY

(Class

B)

3,500,000

g,i

Hudson

Yards

Mortgage

Trust

3.076

08/10/38

3,025,835‌

Series

-

2016

10HY

(Class

C)

4,700,000

g,i

Hudson

Yards

Mortgage

Trust

3.041

12/10/41

3,598,851‌

Series

-

2019

55HY

(Class

D)

2,750,000

g,i

Hudson

Yards

Mortgage

Trust

3.041

12/10/41

2,031,590‌

Series

-

2019

55HY

(Class

E)

90,553

i

Impac

CMB

Trust

LIBOR

1

M

+

0.660%

3.744

03/25/35

85,839‌

Series

-

2004

11

(Class

2A1)

3,089,010

g,i

Imperial

Fund

Mortgage

Trust

2.051

10/25/55

2,846,741‌

Series

-

2020

NQM1

(Class

A3)

1,000,000

g,i

Imperial

Fund

Mortgage

Trust

3.531

10/25/55

866,320‌

Series

-

2020

NQM1

(Class

M1)

3,000,000

g

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

4.379

07/05/31

2,872,461‌

Series

-

2018

AON

(Class

B)

1,700,000

g,i

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

4.212

01/15/46

1,638,794‌

Series

-

2013

C13

(Class

D)

1,500,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

4.166

12/15/46

1,480,721‌

Series

-

2013

C16

(Class

A4)

800,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

3.372

12/15/47

792,858‌

Series

-

2013

C10

(Class

AS)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

222

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

500,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

3.379

%

09/15/50

$

481,712‌

Series

-

2017

JP7

(Class

A3)

1,000,000

g

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

3.620

01/16/37

866,925‌

Series

-

2020

NNN

(Class

DFX)

3,670,083

g,i

JP

Morgan

Mortgage

Trust

LIBOR

1

M

-

0.000%

3.413

12/25/44

3,567,642‌

Series

-

2015

1

(Class

B1)

77,461

g,i

JP

Morgan

Mortgage

Trust

3.500

05/25/45

70,627‌

Series

-

2015

3

(Class

A19)

466,292

g,i

JP

Morgan

Mortgage

Trust

3.500

10/25/45

412,928‌

Series

-

2015

6

(Class

A13)

196,553

g,i

JP

Morgan

Mortgage

Trust

3.500

05/25/46

177,499‌

Series

-

2016

1

(Class

A13)

1,270,169

g,i

JP

Morgan

Mortgage

Trust

3.500

05/25/47

1,131,814‌

Series

-

2017

2

(Class

A13)

1,091,806

g,i

JP

Morgan

Mortgage

Trust

3.500

09/25/48

949,300‌

Series

-

2018

3

(Class

A13)

519,071

g,i

JP

Morgan

Mortgage

Trust

3.500

10/25/48

454,707‌

Series

-

2018

4

(Class

A13)

2,546,438

g,i

JP

Morgan

Mortgage

Trust

3.500

10/25/48

2,218,172‌

Series

-

2018

5

(Class

A13)

1,317,392

g,i

JP

Morgan

Mortgage

Trust

3.124

10/26/48

1,260,502‌

Series

-

2017

5

(Class

A2)

161,184

g,i

JP

Morgan

Mortgage

Trust

4.000

01/25/49

150,647‌

Series

-

2018

8

(Class

A13)

147,514

g,i

JP

Morgan

Mortgage

Trust

4.000

02/25/49

137,657‌

Series

-

2018

9

(Class

A13)

123,737

g,i

JP

Morgan

Mortgage

Trust

4.000

05/25/49

117,082‌

Series

-

2019

1

(Class

A3)

64,938

g,i

JP

Morgan

Mortgage

Trust

4.000

05/25/49

61,446‌

Series

-

2019

1

(Class

A15)

719,053

g,i

JP

Morgan

Mortgage

Trust

LIBOR

1

M

+

0.950%

4.034

10/25/49

710,571‌

Series

-

2019

INV1

(Class

A11)

3,611,914

g,i

JP

Morgan

Mortgage

Trust

3.836

06/25/50

2,935,901‌

Series

-

2020

1

(Class

B2)

6,484,893

g,i

JP

Morgan

Mortgage

Trust

2.500

10/25/51

5,074,575‌

Series

-

2021

6

(Class

A15)

4,021,576

g,i

JP

Morgan

Mortgage

Trust

2.500

11/25/51

3,146,974‌

Series

-

2021

7

(Class

A15)

4,270,234

g,i

JP

Morgan

Mortgage

Trust

2

.500

12/25/51

3,369,202‌

Series

-

2021

8

(Class

A15)

2,333,958

g,i

JP

Morgan

Mortgage

Trust

2.500

12/25/51

1,835,674‌

Series

-

2021

10

(Class

A15)

9,019,228

g,i

JP

Morgan

Mortgage

Trust

2.500

01/25/52

7,116,145‌

Series

-

2021

11

(Class

A15)

2,474,257

g,i

JP

Morgan

Mortgage

Trust

2.500

02/25/52

1,952,182‌

Series

-

2021

12

(Class

A15)

6,904,782

g,i

JP

Morgan

Mortgage

Trust

3.350

04/25/52

5,294,625‌

Series

-

2021

INV6

(Class

B1)

4,423,159

g,i

JP

Morgan

Mortgage

Trust

3.350

04/25/52

3,339,640‌

Series

-

2021

INV6

(Class

B2)

3,935,628

g,i

JP

Morgan

Mortgage

Trust

2.500

05/25/52

3,105,199‌

Series

-

2021

14

(Class

A15)

12,988,704

g,i

JP

Morgan

Mortgage

Trust

2.500

06/25/52

10,248,051‌

Series

-

2021

15

(Class

A15)

16,571,625

g,i

JP

Morgan

Mortgage

Trust

3.000

08/25/52

13,397,366‌

Series

-

2022

2

(Class

A25)

10,243,830

g,i

JP

Morgan

Mortgage

Trust

3.500

09/25/52

8,915,406‌

Series

-

2022

LTV2

(Class

A6)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

223

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

753,794

i

JPMBB

Commercial

Mortgage

Securities

Trust

4.133

%

08/15/46

$

747,671‌

Series

-

2013

C14

(Class

A4)

2,841,885

JPMBB

Commercial

Mortgage

Securities

Trust

3.493

08/15/47

2,766,227‌

Series

-

2014

C21

(Class

A4)

1,000,000

JPMBB

Commercial

Mortgage

Securities

Trust

3.898

02/15/48

933,473‌

Series

-

2015

C27

(Class

B)

2,000,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

3.917

05/15/48

1,892,175‌

Series

-

2015

C29

(Class

AS)

1,600,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

4.118

05/15/48

1,487,476‌

Series

-

2015

C29

(Class

B)

3,000,000

JPMBB

Commercial

Mortgage

Securities

Trust

4.106

08/15/48

2,802,876‌

Series

-

2015

C31

(Class

AS)

6,885,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

4.776

08/15/48

6,411,583‌

Series

-

2015

C31

(Class

B)

3,000,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

4.776

08/15/48

2,755,784‌

Series

-

2015

C31

(Class

C)

1,400,000

JPMBB

Commercial

Mortgage

Securities

Trust

3.227

10/15/48

1,330,025‌

Series

-

2015

C28

(Class

A4)

3,016,000

JPMBB

Commercial

Mortgage

Securities

Trust

4.023

12/15/48

2,830,105‌

Series

-

2015

C33

(Class

AS)

10,425,000

JPMBB

Commercial

Mortgage

Securities

Trust

3.576

03/17/49

9,860,561‌

Series

-

2016

C1

(Class

A5)

2,645,000

g,i

JPMBB

Commercial

Mortgage

Securities

Trust

4.394

03/17/49

2,290,732‌

Series

-

2016

C1

(Class

D1)

1,606,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

4.894

03/17/49

1,470,756‌

Series

-

2016

C1

(Class

C)

1,060,789

JPMCC

Commercial

Mortgage

Securities

Trust

3.457

03/15/50

1,032,069‌

Series

-

2017

JP5

(Class

A4)

2,000,000

i

JPMCC

Commercial

Mortgage

Securities

Trust

3.781

09/15/50

1,661,784‌

Series

-

2017

JP7

(Class

C)

2,500,000

JPMCC

Commercial

Mortgage

Securities

Trust

3.123

06/13/52

2,212,333‌

Series

-

2019

COR5

(Class

A3)

6,000,000

JPMDB

Commercial

Mortgage

Securities

Trust

2.536

05/13/53

4,768,514‌

Series

-

2020

COR7

(Class

AS)

1,439,503

g

Ladder

Capital

Commercial

Mortgage

Securities

3.575

02/15/36

1,339,167‌

Series

-

2013

GCP

(Class

A1)

1,074,887

g

LSTAR

Commercial

Mortgage

Trust

2.579

03/10/49

1,066,737‌

Series

-

2016

4

(Class

A2)

12,000,000

g,i

MAD

Mortgage

Trust

3.294

08/15/34

11,305,098‌

Series

-

2017

330M

(Class

A)

1,500,000

g,i

Manhattan

West

2.413

09/10/39

1,262,159‌

Series

-

2020

1MW

(Class

B)

1,766,049

i

Merrill

Lynch

Mortgage

Investors

Trust

LIBOR

1

M

+

0.520%

2.278

01/25/37

1,672,198‌

Series

-

2006

WMC1

(Class

A1B)

5,646

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3.476

11/15/45

5,636‌

Series

-

2012

C6

(Class

AS)

2,884,194

g

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3.989

12/15/46

2,722,287‌

Series

-

2014

C19

(Class

LNC1)

911,278

g

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

4.384

12/15/46

852,172‌

Series

-

2014

C19

(Class

LNC2)

1,305,000

i

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

5.211

02/15/47

1,282,109‌

Series

-

2014

C14

(Class

C)

2,070,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3.832

12/15/47

1,973,393‌

Series

-

2014

C19

(Class

AS)

53,825

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3.069

02/15/48

52,670‌

Series

-

2015

C20

(Class

ASB)

5,938,073

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3.652

03/15/48

5,552,038‌

Series

-

2015

C21

(Class

AS)

3,360,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3.561

04/15/48

3,153,044‌

Series

-

2015

C22

(Class

AS)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

224

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

9,910,536

Morgan

Stanley

Capital

I

Trust

2.606

%

08/15/49

$

9,441,185‌

Series

-

2016

UB11

(Class

ASB)

260,237

†,i

Morgan

Stanley

Capital

I

Trust

6.282

12/12/49

131,094‌

Series

-

2007

IQ16

(Class

AJ)

1,300,000

Morgan

Stanley

Capital

I

Trust

3.587

12/15/50

1,198,747‌

Series

-

2017

HR2

(Class

A4)

1,000,000

Morgan

Stanley

Capital

I

Trust

4.177

07/15/51

941,430‌

Series

-

2018

H3

(Class

A5)

3,142,000

i

Morgan

Stanley

Capital

I

Trust

4.429

07/15/51

2,911,460‌

Series

-

2018

H3

(Class

AS)

2,879,392

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2.500

07/25/51

2,468,909‌

Series

-

2021

4

(Class

A4)

8,240,728

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2.500

08/25/51

6,501,911‌

Series

-

2021

5

(Class

A9)

8,856,803

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2.500

09/25/51

7,651,531‌

Series

-

2021

6

(Class

A4)

6,109,560

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2.500

09/25/51

4,820,426‌

Series

-

2021

6

(Class

A9)

2,000,000

g

MRCD

Mortgage

Trust

2.718

12/15/36

1,772,258‌

Series

-

2019

PARK

(Class

D)

3,500,000

g

MRCD

Mortgage

Trust

2.718

12/15/36

3,076,663‌

Series

-

2019

PARK

(Class

E)

1,500,000

g,i

MSDB

Trust

3.427

07/11/39

1,323,699‌

Series

-

2017

712F

(Class

A)

6,300,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

1.500%

4.318

07/15/36

6,203,133‌

Series

-

2019

MILE

(Class

A)

2,500,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

1.800%

4.618

07/15/36

2,452,483‌

Series

-

2019

MILE

(Class

B)

703,488

g

Natixis

Commercial

Mortgage

Securities

Trust

2.966

12/15/38

652,723‌

Series

-

2020

2PAC

(Class

A)

157,795

g,i

New

Residential

Mortgage

Loan

Trust

4.750

12/25/57

153,493‌

Series

-

2018

5A

(Class

A1)

732,306

g,i

New

Residential

Mortgage

Loan

Trust

2.797

09/25/59

671,240‌

Series

-

2019

NQM4

(Class

A3)

700,000

g,i

New

Residential

Mortgage

Loan

Trust

2.986

09/25/59

586,325‌

Series

-

2019

NQM4

(Class

M1)

143,024

i

New

York

Mortgage

Trust

LIBOR

1

M

+

0.480%

3.564

02/25/36

140,478‌

Series

-

2005

3

(Class

A1)

1,325,000

g,i

NLT

Trust

2.569

08/25/56

941,314‌

Series

-

2021

INV2

(Class

M1)

10,570,852

g,i

OBX

Trust

2.500

07/25/51

8,340,373‌

Series

-

2021

J2

(Class

A19)

475,330

g,i

OBX

Trust

LIBOR

1

M

+

0.650%

3.734

06/25/57

461,854‌

Series

-

2018

1

(Class

A2)

2,257,467

g,i

Oceanview

Mortgage

Trust

2.500

05/25/51

1,781,135‌

Series

-

2021

1

(Class

A19)

3,000,000

g

One

Bryant

Park

Trust

2.516

09/15/54

2,470,962‌

Series

-

2019

OBP

(Class

A)

20,445,000

g

One

Market

Plaza

Trust

3.614

02/10/32

19,779,391‌

Series

-

2017

1MKT

(Class

A)

1,000,000

g

RBS

Commercial

Funding,

Inc

Trust

3.511

03/11/31

982,094‌

Series

-

2013

SMV

(Class

B)

14,899,850

g,i

RCKT

Mortgage

Trust

2.500

02/25/52

11,755,940‌

Series

-

2022

2

(Class

A22)

2,900,803

g,i

RCKT

Mortgage

Trust

3.500

06/25/52

2,423,493‌

Series

-

2022

4

(Class

A22)

343,360

g,i

Sequoia

Mortgage

Trust

3.500

05/25/45

304,766‌

Series

-

2015

2

(Class

A1)

252,453

g,i

Sequoia

Mortgage

Trust

3.500

02/25/47

224,929‌

Series

-

2017

2

(Class

A19)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

225

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

20,308

g,i

Sequoia

Mortgage

Trust

3.500

%

04/25/47

$

17,881‌

Series

-

2017

3

(Class

A19)

850,154

g,i

Sequoia

Mortgage

Trust

3.719

09/25/47

736,536‌

Series

-

2017

6

(Class

B1)

562,309

g,i

Sequoia

Mortgage

Trust

3.500

03/25/48

508,617‌

Series

-

2018

3

(Class

A1)

57,805

g,i

Sequoia

Mortgage

Trust

4.000

09/25/48

54,644‌

Series

-

2018

7

(Class

A19)

175,798

g,i

Sequoia

Mortgage

Trust

4.000

06/25/49

169,521‌

Series

-

2019

2

(Class

A19)

1,472,576

g,i

Sequoia

Mortgage

Trust

3.500

12/25/49

1,308,272‌

Series

-

2019

5

(Class

A19)

2,904,714

g,i

Sequoia

Mortgage

Trust

3.000

04/25/50

2,348,322‌

Series

-

2020

3

(Class

A19)

3,920,606

g,i

Sequoia

Mortgage

Trust

2.500

06/25/51

3,093,347‌

Series

-

2021

4

(Class

A19)

227,977

g,i

Shellpoint

Co-Originator

Trust

3.500

04/25/47

202,361‌

Series

-

2017

1

(Class

A19)

11,415,000

g

SLG

Office

Trust

2.851

07/15/41

8,109,564‌

Series

-

2021

OVA

(Class

E)

2,411,476

g,i

SMR

Mortgage

Trust

5.245

02/15/39

2,333,036‌

Series

-

2022

IND

(Class

B)

3,955,000

g,i

Structured

Agency

Credit

Risk

Debt

Note

(STACR)

4.381

10/25/33

3,773,095‌

Series

-

2021

DNA3

(Class

M2)

38,782

g,i

STACR

3.763

02/25/48

37,202‌

Series

-

2018

SPI1

(Class

M2)

98,323

g,i

STACR

3.840

05/25/48

94,338‌

Series

-

2018

SPI2

(Class

M2)

1,520,000

g,i

STACR

LIBOR

1

M

+

2.500%

5.584

02/25/50

1,377,160‌

Series

-

2020

DNA2

(Class

B1)

2,250,000

UBS

Commercial

Mortgage

Trust

4.334

10/15/51

2,119,178‌

Series

-

2018

C13

(Class

A4)

1,000,000

g,i

UBS-Barclays

Commercial

Mortgage

Trust

3.649

03/10/46

976,272‌

Series

-

2013

C5

(Class

B)

2,000,000

g,i

UBS-Barclays

Commercial

Mortgage

Trust

3.875

04/10/46

1,954,655‌

Series

-

2013

C6

(Class

B)

1,225,000

g,i

Verus

Securitization

Trust

3.207

11/25/59

1,124,711‌

Series

-

2019

4

(Class

M1)

781,123

g

Verus

Securitization

Trust

1.733

05/25/65

712,155‌

Series

-

2020

5

(Class

A3)

7,739,034

g,i

Verus

Securitization

Trust

2.240

10/25/66

6,394,485‌

Series

-

2021

7

(Class

A3)

836,354

g

VSE

VOI

Mortgage

LLC

2.330

03/20/35

799,994‌

Series

-

2017

A

(Class

A)

753,644

g

VSE

VOI

Mortgage

LLC

4.020

02/20/36

728,495‌

Series

-

2018

A

(Class

C)

2,272,000

Wells

Fargo

Commercial

Mortgage

Trust

3.540

05/15/48

2,169,636‌

Series

-

2015

C28

(Class

A4)

2,100,000

i

Wells

Fargo

Commercial

Mortgage

Trust

3.658

05/15/48

1,946,962‌

Series

-

2015

NXS1

(Class

B)

2,000,000

i

Wells

Fargo

Commercial

Mortgage

Trust

4.287

05/15/48

1,749,494‌

Series

-

2015

NXS1

(Class

D)

350,000

Wells

Fargo

Commercial

Mortgage

Trust

3.637

06/15/48

334,733‌

Series

-

2015

C29

(Class

A4)

3,803,601

Wells

Fargo

Commercial

Mortgage

Trust

2.825

10/15/49

3,636,281‌

Series

-

2016

LC24

(Class

ASB)

387,000

Wells

Fargo

Commercial

Mortgage

Trust

3.635

03/15/50

359,126‌

Series

-

2017

RB1

(Class

A5)

2,000,000

Wells

Fargo

Commercial

Mortgage

Trust

3.757

03/15/50

1,819,916‌

Series

-

2017

RB1

(Class

AS)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

226

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

1,720,000

Wells

Fargo

Commercial

Mortgage

Trust

3.467

%

04/15/50

$

1,606,394‌

Series

-

2015

LC20

(Class

AS)

2,000,000

i

Wells

Fargo

Commercial

Mortgage

Trust

4.012

03/15/51

1,877,422‌

Series

-

2018

C43

(Class

A4)

1,200,000

g

Wells

Fargo

Commercial

Mortgage

Trust

3.153

09/15/57

999,215‌

Series

-

2015

NXS3

(Class

D)

2,500,000

i

Wells

Fargo

Commercial

Mortgage

Trust

3.972

09/15/57

2,355,980‌

Series

-

2015

NXS3

(Class

AS)

3,350,000

Wells

Fargo

Commercial

Mortgage

Trust

3.952

01/15/59

3,116,403‌

Series

-

2016

C32

(Class

AS)

2,500,000

i

Wells

Fargo

Commercial

Mortgage

Trust

4.884

01/15/59

2,355,171‌

Series

-

2016

C32

(Class

B)

799,107

Wells

Fargo

Commercial

Mortgage

Trust

2.933

11/15/59

763,471‌

Series

-

2016

C36

(Class

ASB)

111,012

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

4.000

04/25/49

107,184‌

Series

-

2019

2

(Class

A17)

1,323,693

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3.490

09/25/49

1,175,273‌

Series

-

2019

4

(Class

A1)

563,183

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3.000

07/25/50

462,319‌

Series

-

2020

4

(Class

A17)

12,018,204

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

2.500

06/25/51

9,482,329‌

Series

-

2021

2

(Class

A17)

5,388,151

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3.000

08/25/51

4,347,689‌

Series

-

2021

INV1

(Class

A17)

4,713,249

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3.318

08/25/51

3,810,734‌

Series

-

2021

INV1

(Class

B1)

3,179,354

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

2.500

12/25/51

2,508,501‌

Series

-

2022

2

(Class

A18)

3,710,615

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3.000

03/25/52

2,986,179‌

Series

-

2022

INV1

(Class

A18)

6,417,182

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3.500

03/25/52

5,413,049‌

Series

-

2022

INV1

(Class

A17)

1,000,000

WFRBS

Commercial

Mortgage

Trust

3.345

05/15/45

984,918‌

Series

-

2013

C13

(Class

AS)

3,292,052

i

WFRBS

Commercial

Mortgage

Trust

4.079

03/15/46

3,249,877‌

Series

-

2013

UBS1

(Class

A4)

1,664,000

i

WFRBS

Commercial

Mortgage

Trust

5.029

12/15/46

1,560,179‌

Series

-

2013

C18

(Class

C)

2,225,281

WFRBS

Commercial

Mortgage

Trust

3.995

05/15/47

2,174,169‌

Series

-

2014

C20

(Class

A5)

222,100

g,i

WinWater

Mortgage

Loan

Trust

3.926

06/20/44

188,331‌

Series

-

2014

1

(Class

B4)

5,440,479

g,i

Woodward

Capital

Management

3.000

05/25/52

4,378,316‌

Series

-

2022

3

(Class

A21)

TOTAL

OTHER

MORTGAGE

BACKED

872,674,194‌

TOTAL

STRUCTURED

ASSETS

1,441,284,537‌

(Cost

$1,635,400,100)

TOTAL

BONDS

8,713,902,130‌

(Cost

$10,028,677,217)

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

227

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

0.0%

MATERIALS

-

0.0%

363,958

*

Petra

Diamonds

Ltd

$

428,920‌

TOTAL

MATERIALS

428,920‌

TOTAL

COMMON

STOCKS

428,920‌

(Cost

$342,121)

PREFERRED

STOCKS

-

0.1%

DIVERSIFIED

FINANCIALS

-

0.1%

208,700

e

Morgan

Stanley

5,246,718‌

17,753

Morgan

Stanley

445,245‌

200,000

Morgan

Stanley

4,944,000‌

TOTAL

DIVERSIFIED

FINANCIALS

10,635,963‌

TOTAL

PREFERRED

STOCKS

10,635,963‌

(Cost

$11,376,714)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

4.8%

GOVERNMENT

AGENCY

DEBT

-

1.0%

$

12,500,000

Federal

Home

Loan

Bank

(FHLB)

0.000

%

10/21/22

12,481,091‌

10,000,000

FHLB

0

.000

11/01/22

9,974,658‌

10,000,000

FHLB

0.000

11/07/22

9,969,423‌

12,500,000

FHLB

0.000

12/21/22

12,406,780‌

20,000,000

FHLB

0.000

12/28/22

19,837,685‌

15,000,000

FHLB

0.000

02/27/23

14,773,294‌

10,000,000

Tennessee

Valley

Authority

(TVA)

0.000

10/05/22

9,998,342‌

TOTAL

GOVERNMENT

AGENCY

DEBT

89,441,273‌

REPURCHASE

AGREEMENT

-

2.9%

263,610,000

r

Fixed

Income

Clearing

Corp

(FICC)

2.960

10/03/22

263,610,000‌

TOTAL

REPURCHASE

AGREEMENT

263,610,000‌

TREASURY

DEBT

-

0.1%

1,975,000

United

States

Treasury

Bill

0.000

12/22/22

1,960,964‌

1,700,000

United

States

Treasury

Bill

0.000

09/07/23

1,638,688‌

TOTAL

TREASURY

DEBT

3,599,652‌

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

0.8%

72,742,537

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3.070

72,742,537‌

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

72,742,537‌

TOTAL

SHORT-TERM

INVESTMENTS

429,393,462‌

(Cost

$429,552,399)

TOTAL

INVESTMENTS

-

102.1%

9,256,191,910‌

(Cost

$10,579,350,711)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(2.1)%

(186,861,083‌)

NET

ASSETS

-

100.0%

$

9,069,330,827‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

228

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted. 

CNY

Chinese

Yuan

DOP

Dominican

Republic

Peso

EUR

Euro

IDR

Indonesian

Rupiah

INR

Indian

Rupee

LIBOR

London

Interbank

Offered

Rate

M

Month

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

REIT

Real

Estate

Investment

Trust

REMIC

Real

Estate

Mortgage

Investment

Conduit

RSD

Serbian

Dinar

SOFR

Secure

Overnight

Financing

Rate

THB

Thai

Baht

UGX

Ugandan

Shilling

UZS

Uzbekistani

Som

ZAR

South

African

Rand

*

Non-income

producing

†

Security

is

categorized

as

Level

3

in

the

fair

value

hierarchy.

‡

Perpetual

security

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

$74,296,898.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

h

All

or

a

portion

of

these

securities

were

purchased

on

a

delayed

delivery

basis.

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

j

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

collateral

requirements

on

mortgage

dollar

rolls.

k

Principal

amount

for

interest

accrual

purposes

is

periodically

adjusted

based

on

changes

in

the

Consumer

Price

Index.

l

All

or

a

portion

of

these

securities

have

been

segregated

by

the

custodian

to

cover

collateral

requirements

on

swap

agreements.

o

Payment

in

Kind

Bond

q

In

default

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.960%

dated

9/30/22

to

be

repurchased

at

$263,610,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$268,882,269.

Centrally

cleared

credit

default

swap

contracts

outstanding

as

of

September

30,

2022

were

as

follows:

PURCHASED

Reference

entity

Terms

of

payments

to

be

paid

Terms

of

payments

to

be

received

Counterparty

Fixed

rate

payment

frequency

Maturity

date

Notional

amount

*

Value

Premiums

paid

(received)

Unrealized

appreciation

(depreciation)

CDX-NAHYS38V2-5Y

5.000%

Credit

event

as

specified

in

contract

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

$140,580,000‌

$(2,967,384‌)

$(3,789,063‌)

$821,679‌

*  

The

maximum

potential

amount

the

Fund

could

be

required

to

pay

as

a

seller

of

credit

protection

or

receive

as

a

buyer

of

credit

protection

if

a

credit

event

occurs

is

defined

under

the

terms

of

that

particular

swap

agreement.

This

amount

may

be

reduced

by

any

recoverable

assets,

if

applicable.

SOLD

Reference

entity

Terms

of

payments

to

be

paid

Terms

of

payments

to

be

received

Counterparty

Fixed

rate

payment

frequency

Maturity

date

Notional

amount

*

Value

Premiums

paid

(received)

Unrealized

appreciation

(depreciation)

CDX-NAHYS38V1-5Y

Credit

event

as

specified

in

contract

5.000%

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

$22,000,000‌

$464,378‌

$66,504‌

$397,874‌

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

15,000,000‌

316,622‌

119,727‌

196,895‌

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

25,000,000‌

527,704‌

506,561‌

21,143‌

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

20,000,000‌

422,163‌

(73,433‌)

495,596‌

Portfolio

of

investments

(unaudited)

Core

Bond

Fund

September

30,

2022

229

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

concluded

SOLD

Reference

entity

Terms

of

payments

to

be

paid

Terms

of

payments

to

be

received

Counterparty

Fixed

rate

payment

frequency

Maturity

date

Notional

amount*

Value

Premiums

paid

(received)

Unrealized

appreciation

(depreciation)

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

19,800,000‌

417,941‌

(283,548‌)

701,489‌

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

20,000,000‌

422,163‌

286,781‌

135,382‌

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

20,000,000‌

422,163‌

166,280‌

255,883‌

CDX-NAHYS39V1-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

12/20/27

142,000,000‌

5,610,642‌

6,411,858‌

(801,216‌

)

Total

$8,603,776‌

$7,200,730‌

$

1,403,046‌

*  

The

maximum

potential

amount

the

Fund

could

be

required

to

pay

as

a

seller

of

credit

protection

or

receive

as

a

buyer

of

credit

protection

if

a

credit

event

occurs

is

defined

under

the

terms

of

that

particular

swap

agreement.

This

amount

may

be

reduced

by

any

recoverable

assets,

if

applicable.

Core

Impact

Bond

Fund

September

30,

2022

Portfolio

of

investments

(unaudited)

230

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANK

LOAN

OBLIGATIONS

-

0.6%

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.2

%

$

15,800,000

i

LTR

Intermediate

Holdings,

Inc

LIBOR

4

M

+

4.500%

8

.174

%

05/05/28

$

14,457,000‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

14,457,000‌

UTILITIES

-

0

.4

%

7,103,052

i

Exgen

Renewables

IV

LLC

LIBOR

4

M

+

2.500%

5

.570

12/15/27

6,972,533‌

16,398,900

i

TerraForm

Power

Operating

LLC

SOFR

4M

+

2.750%

6

.403

05/21/29

16,265,659‌

TOTAL

UTILITIES

23,238,192‌

TOTAL

BANK

LOAN

OBLIGATIONS

37,695,192‌

(Cost

$38,906,602)

BONDS

-

97.4%

CORPORATE

BONDS

-

32

.0

%

AUTOMOBILES

&

COMPONENTS

-

0

.7

%

9,000,000

Aptiv

plc

2

.396

02/18/25

8,398,339‌

9,525,000

Ford

Motor

Co

3

.250

02/12/32

6,861,143‌

10,000,000

General

Motors

Co

5

.600

10/15/32

8,926,471‌

13,025,000

g

Hyundai

Capital

Services,

Inc

1

.250

02/08/26

11,321,237‌

11,025,000

Magna

International,

Inc

2

.450

06/15/30

8,927,768‌

TOTAL

AUTOMOBILES

&

COMPONENTS

44,434,958‌

BANKS

-

5

.4

%

15,000,000

g

ABN

AMRO

Bank

NV

2

.470

12/13/29

11,890,041‌

10,575,000

g

Bank

Hapoalim

BM

3

.255

01/21/32

8,776,806‌

11,986,000

Bank

of

America

Corp

0

.981

09/25/25

10,905,263‌

10,000,000

Bank

of

America

Corp

2

.456

10/22/25

9,362,839‌

15,000,000

i

Bank

of

America

Corp

SOFR

+

0.970%

3

.443

07/22/27

14,514,675‌

12,500,000

Bank

of

America

Corp

2

.087

06/14/29

10,157,932‌

5,000,000

Bank

of

America

Corp

2

.687

04/22/32

3,903,672‌

10,000,000

Bank

of

Montreal

3

.803

12/15/32

8,671,282‌

3,250,000

g

BNP

Paribas

S.A.

1

.904

09/30/28

2,622,499‌

15,300,000

g

BNP

Paribas

S.A.

2

.871

04/19/32

11,568,330‌

6,250,000

Citigroup,

Inc

0

.776

10/30/24

5,935,371‌

3,125,000

i

Citigroup,

Inc

SOFR

+

0.694%

3

.141

01/25/26

3,046,145‌

10,000,000

HSBC

Holdings

plc

5

.210

08/11/28

9,348,724‌

13,750,000

HSBC

Holdings

plc

2

.206

08/17/29

10,639,268‌

6,575,000

HSBC

Holdings

plc

5

.402

08/11/33

5,846,447‌

10,000,000

g

ING

Groep

NV

1

.400

07/01/26

8,829,847‌

8,300,000

ING

Groep

NV

4

.017

03/28/28

7,536,184‌

10,000,000

ING

Groep

NV

2

.727

04/01/32

7,612,662‌

5,375,000

ING

Groep

NV

4

.252

03/28/33

4,556,016‌

6,250,000

g

Intesa

Sanpaolo

S.p.A

3

.250

09/23/24

5,884,322‌

7,200,000

g

Intesa

Sanpaolo

S.p.A

4

.000

09/23/29

5,955,254‌

6,000,000

g

Intesa

Sanpaolo

S.p.A

4

.950

06/01/42

3,562,898‌

5,000,000

JPMorgan

Chase

&

Co

1

.040

02/04/27

4,248,677‌

10,990,000

JPMorgan

Chase

&

Co

3

.650

N/A‡

8,899,830‌

2,750,000

Lloyds

Banking

Group

plc

4

.500

11/04/24

2,675,456‌

5,725,000

Lloyds

Banking

Group

plc

3

.870

07/09/25

5,520,111‌

9,500,000

g

National

Australia

Bank

Ltd

2

.332

08/21/30

7,073,576‌

12,150,000

National

Bank

of

Canada

0

.550

11/15/24

11,501,972‌

5,485,000

NatWest

Group

plc

2

.359

05/22/24

5,356,147‌

6,425,000

Santander

Holdings

USA,

Inc

5

.807

09/09/26

6,279,713‌

11,225,000

g

Shinhan

Financial

Group

Co

Ltd

3

.340

02/05/30

10,500,202‌

8,883,000

SVB

Financial

Group

2

.100

05/15/28

7,196,862‌

7,569,000

SVB

Financial

Group

3

.125

06/05/30

6,097,149‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

231

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

10,100,000

SVB

Financial

Group

1

.800

%

02/02/31

$

7,228,345‌

9,000,000

g

UBS

Group

AG.

1

.494

08/10/27

7,560,707‌

10,000,000

g

UBS

Group

AG.

2

.746

02/11/33

7,429,298‌

6,875,000

g

UBS

Group

AG.

3

.179

02/11/43

4,427,587‌

15,000,000

g

UniCredit

S.p.A

2

.569

09/22/26

12,852,390‌

3,600,000

g

UniCredit

S.p.A

5

.459

06/30/35

2,676,743‌

11,570,000

g

United

Overseas

Bank

Ltd

2

.000

10/14/31

9,950,345‌

5,800,000

g

USAA

Capital

Corp

1

.500

05/01/23

5,708,484‌

11,135,000

g

USAA

Capital

Corp

2

.125

05/01/30

8,941,903‌

10,000,000

Wells

Fargo

&

Co

4

.540

08/15/26

9,674,054‌

TOTAL

BANKS

322,926,028‌

CAPITAL

GOODS

-

0

.8

%

3,053,000

e

CNH

Industrial

NV

3

.850

11/15/27

2,785,656‌

4,925,000

Johnson

Controls

International

plc

1

.750

09/15/30

3,809,361‌

10,000,000

Otis

Worldwide

Corp

3

.112

02/15/40

7,058,309‌

6,275,000

g,i

Siemens

Financieringsmaatschappij

NV

SOFR

+

0.430%

3

.296

03/11/24

6,251,525‌

12,500,000

g

Siemens

Financieringsmaatschappij

NV

1

.200

03/11/26

10,902,946‌

10,500,000

g

Triton

Container

International

Ltd

1

.150

06/07/24

9,563,097‌

3,500,000

g

Triton

Container

International

Ltd

3

.150

06/15/31

2,563,405‌

3,575,000

Xylem,

Inc

2

.250

01/30/31

2,858,324‌

TOTAL

CAPITAL

GOODS

45,792,623‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.3

%

7,500,000

Mather

Foundation

2

.675

10/01/31

6,145,092‌

15,760,000

Rockefeller

Foundation

2

.492

10/01/50

9,855,367‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

16,000,459‌

CONSUMER

DURABLES

&

APPAREL

-

0

.1

%

5,270,000

Whirlpool

Corp

2

.400

05/15/31

4,044,196‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

4,044,196‌

CONSUMER

SERVICES

-

1

.5

%

2,800,000

Bush

Foundation

2

.754

10/01/50

1,816,007‌

10,750,000

Conservation

Fund

3

.474

12/15/29

9,193,840‌

4,040,000

Henry

J

Kaiser

Family

Foundation

3

.356

12/01/25

3,794,831‌

4,500,000

Low

Income

Investment

Fund

3

.386

07/01/26

4,269,255‌

10,000,000

Low

Income

Investment

Fund

3

.711

07/01/29

9,210,508‌

11,525,000

Massachusetts

Higher

Education

Assistance

Corp

2

.673

07/01/31

9,521,218‌

7,850,000

i

Nature

Conservancy

LIBOR

3

M

+

1.080%

3

.862

02/01/24

7,835,886‌

10,231,000

Nature

Conservancy

3

.957

03/01/52

8,326,724‌

4,100,000

New

York

Public

Library

Astor

Lenox

&

Tilden

Foundations

4

.305

07/01/45

3,492,671‌

9,775,000

Preservation

Of

Affordable

Housing,

Inc

4

.479

12/01/32

8,923,240‌

60,000

Salvation

Army

5

.637

09/01/26

60,263‌

5,000,000

Salvation

Army

4

.528

09/01/48

4,407,223‌

6,850,000

Starbucks

Corp

2

.450

06/15/26

6,281,203‌

11,440,000

Wisconsin

Alumni

Research

Foundation

3

.564

10/01/49

8,381,762‌

5,000,000

YMCA

of

Greater

New

York

5

.021

08/01/38

4,627,919‌

1,500,000

YMCA

of

Greater

New

York

5

.151

08/01/48

1,303,863‌

TOTAL

CONSUMER

SERVICES

91,446,413‌

DIVERSIFIED

FINANCIALS

-

4

.0

%

9,400,000

i

AerCap

Ireland

Capital

DAC

SOFR

+

0.680%

3

.651

09/29/23

9,200,054‌

10,800,000

AerCap

Ireland

Capital

DAC

1

.750

01/30/26

9,236,095‌

10,500,000

AerCap

Ireland

Capital

DAC

3

.000

10/29/28

8,420,639‌

12,900,000

American

Express

Co

4

.050

05/03/29

11,872,611‌

11,900,000

g

BPCE

S.A.

1

.652

10/06/26

10,334,767‌

10,000,000

g

BPCE

S.A.

2

.045

10/19/27

8,419,467‌

15,875,000

g

BPCE

S.A.

3

.116

10/19/32

11,357,183‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

232

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

11,645,000

Community

Preservation

Corp

2

.867

%

02/01/30

$

9,456,390‌

2,565,000

g

Cooperatieve

Rabobank

UA

1

.004

09/24/26

2,230,124‌

15,975,000

Credit

Suisse

AG.

5

.000

07/09/27

14,730,840‌

5,000,000

g

Credit

Suisse

Group

AG.

1

.305

02/02/27

4,058,600‌

4,325,000

g

Credit

Suisse

Group

AG.

6

.442

08/11/28

4,022,030‌

5,820,000

Enterprise

Community

Loan

Fund,

Inc

4

.152

11/01/28

5,337,983‌

10,000,000

Ford

Foundation

2

.815

06/01/70

5,944,556‌

10,000,000

Goldman

Sachs

Group,

Inc

0

.855

02/12/26

8,922,012‌

14,500,000

Morgan

Stanley

0

.791

01/22/25

13,582,985‌

11,950,000

Morgan

Stanley

0

.985

12/10/26

10,304,335‌

1,475,000

Morgan

Stanley

1

.512

07/20/27

1,256,237‌

14,150,000

Morgan

Stanley

2

.484

09/16/36

10,140,295‌

6,500,000

National

Rural

Utilities

Cooperative

Finance

Corp

4

.150

12/15/32

5,947,623‌

11,600,000

g,i

NatWest

Markets

plc

SOFR

+

0.530%

3

.179

08/12/24

11,359,077‌

5,000,000

g

NongHyup

Bank

1

.250

07/20/25

4,493,957‌

2,000,000

Reinvestment

Fund,

Inc

3

.166

11/01/23

1,947,707‌

3,000,000

Reinvestment

Fund,

Inc

3

.600

02/15/24

2,927,138‌

2,500,000

Reinvestment

Fund,

Inc

3

.366

11/01/24

2,398,447‌

5,000,000

Reinvestment

Fund,

Inc

3

.513

11/01/25

4,711,172‌

5,000,000

Reinvestment

Fund,

Inc

3

.880

02/15/27

4,654,105‌

2,575,000

g

Societe

Generale

S.A.

2

.889

06/09/32

1,881,034‌

3,150,000

g

Starwood

Property

Trust,

Inc

4

.375

01/15/27

2,685,328‌

8,650,000

Toyota

Motor

Credit

Corp

2

.150

02/13/30

7,102,893‌

3,000,000

Unilever

Capital

Corp

0

.626

08/12/24

2,785,386‌

5,528,000

Unilever

Capital

Corp

2

.125

09/06/29

4,596,988‌

6,125,000

Unilever

Capital

Corp

1

.375

09/14/30

4,696,347‌

9,425,000

Unilever

Capital

Corp

2

.625

08/12/51

6,080,366‌

3,450,000

g

WLB

Asset

II

B

Pte

Ltd

3

.950

12/10/24

3,258,041‌

5,425,000

g

WLB

Asset

II

C

Pte

Ltd

3

.900

12/23/25

5,152,442‌

1,925,000

g

WLB

Asset

II

Pte

Ltd

4

.000

01/14/24

1,886,011‌

TOTAL

DIVERSIFIED

FINANCIALS

237,391,265‌

ENERGY

-

1

.7

%

7,500,000

g

Aker

BP

ASA

2

.875

01/15/26

6,811,208‌

10,000,000

g

Aker

BP

ASA

4

.000

01/15/31

8,486,020‌

9,875,000

BP

Capital

Markets

America,

Inc

2

.772

11/10/50

6,132,419‌

2,650,000

Cenovus

Energy,

Inc

2

.650

01/15/32

2,042,326‌

6,375,000

EQT

Corp

6

.125

02/01/25

6,383,160‌

2,000,000

Equinor

ASA

3

.700

03/01/24

1,970,810‌

7,725,000

Equinor

ASA

2

.375

05/22/30

6,415,515‌

3,000,000

Equinor

ASA

3

.950

05/15/43

2,440,732‌

9,110,000

Equinor

ASA

3

.250

11/18/49

6,529,674‌

1,925,000

ONEOK,

Inc

4

.000

07/13/27

1,766,430‌

7,246,000

ONEOK,

Inc

3

.400

09/01/29

6,078,420‌

13,500,000

ONEOK,

Inc

3

.100

03/15/30

10,970,055‌

3,350,000

ONEOK,

Inc

4

.950

07/13/47

2,577,967‌

6,100,000

ONEOK,

Inc

4

.450

09/01/49

4,368,261‌

11,700,000

g

Santos

Finance

Ltd

3

.649

04/29/31

9,092,268‌

4,350,000

e,g

Sunnova

Energy

Corp

5

.875

09/01/26

3,886,910‌

12,850,000

Total

Capital

International

S.A.

2

.986

06/29/41

9,159,771‌

11,550,000

Total

Capital

International

S.A.

3

.127

05/29/50

7,975,738‌

TOTAL

ENERGY

103,087,684‌

FOOD

&

STAPLES

RETAILING

-

0

.4

%

11,225,000

SYSCO

Corp

2

.400

02/15/30

9,135,264‌

18,025,000

Walmart,

Inc

1

.800

09/22/31

14,320,307‌

TOTAL

FOOD

&

STAPLES

RETAILING

23,455,571‌

FOOD,

BEVERAGE

&

TOBACCO

-

0

.5

%

8,500,000

g

NBM

US

Holdings,

Inc

6

.625

08/06/29

7,755,200‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

233

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

$

10,000,000

PepsiCo,

Inc

3

.900

%

07/18/32

$

9,243,868‌

20,310,000

PepsiCo,

Inc

2

.875

10/15/49

14,228,617‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

31,227,685‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0

.1

%

2,250,000

Mary

Free

Bed

Rehabilitation

Hospital

3

.786

04/01/51

1,630,970‌

10,385,000

Stanford

Health

Care

3

.027

08/15/51

6,871,678‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

8,502,648‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0

.2

%

5,300,000

Procter

&

Gamble

Co

3

.000

03/25/30

4,745,306‌

12,125,000

Procter

&

Gamble

Co

1

.200

10/29/30

9,357,267‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

14,102,573‌

INSURANCE

-

1

.0

%

7,703,000

g

AIA

Group

Ltd

3

.375

04/07/30

6,840,879‌

5,275,000

g

Empower

Finance

2020

LP

1

.357

09/17/27

4,332,951‌

4,950,000

g

Empower

Finance

2020

LP

1

.776

03/17/31

3,669,221‌

9,735,000

First

American

Financial

Corp

2

.400

08/15/31

6,954,294‌

7,725,000

g

Five

Corners

Funding

Trust

4

.419

11/15/23

7,652,596‌

12,075,000

g

Five

Corners

Funding

Trust

II

2

.850

05/15/30

9,939,083‌

4,100,000

g

Great-West

Lifeco

US

Finance

2020

LP

0

.904

08/12/25

3,603,667‌

5,200,000

g

Muenchener

Rueckversicherungs-Gesellschaft

AG.

in

Muenchen

5

.875

05/23/42

4,901,520‌

5,000,000

Progressive

Corp

3

.700

01/26/45

3,796,191‌

5,915,000

Reinsurance

Group

of

America,

Inc

3

.150

06/15/30

4,926,046‌

6,674,000

g

Swiss

Re

Treasury

US

Corp

4

.250

12/06/42

5,658,398‌

TOTAL

INSURANCE

62,274,846‌

MATERIALS

-

1

.1

%

6,550,000

g

Celulosa

Arauco

y

Constitucion

S.A.

4

.200

01/29/30

5,371,000‌

550,000

g

Celulosa

Arauco

y

Constitucion

S.A.

5

.150

01/29/50

388,363‌

10,250,000

g

FMG

Resources

August

2006

Pty

Ltd

6

.125

04/15/32

8,807,313‌

1,434,000

International

Paper

Co

4

.800

06/15/44

1,193,112‌

3,750,000

e,g

Inversiones

CMPC

S.A.

4

.375

04/04/27

3,393,750‌

2,795,000

g

LG

Chem

Ltd

4

.375

07/14/25

2,729,737‌

5,940,000

g

LG

Chem

Ltd

3

.625

04/15/29

5,360,860‌

5,925,000

LYB

International

Finance

III

LLC

3

.375

10/01/40

4,060,593‌

5,000,000

Newmont

Corp

2

.250

10/01/30

3,867,748‌

9,875,000

PPG

Industries,

Inc

1

.200

03/15/26

8,618,115‌

3,500,000

Sonoco

Products

Co

1

.800

02/01/25

3,242,533‌

5,525,000

Sonoco

Products

Co

2

.250

02/01/27

4,893,167‌

8,750,000

Sonoco

Products

Co

2

.850

02/01/32

6,932,951‌

10,000,000

Teck

Resources

Ltd

3

.900

07/15/30

8,506,616‌

TOTAL

MATERIALS

67,365,858‌

MEDIA

&

ENTERTAINMENT

-

0

.4

%

10,000,000

Alphabet,

Inc

1

.100

08/15/30

7,731,432‌

4,625,000

Paramount

Global

6

.375

03/30/62

3,995,531‌

9,100,000

g

RGA

Global

Funding

2

.700

01/18/29

7,617,943‌

4,070,000

Tote

Shipholdings

LLC

3

.400

10/16/40

3,642,950‌

2,620,000

Tote

Shipholdings

LLC

3

.450

01/22/41

2,346,571‌

TOTAL

MEDIA

&

ENTERTAINMENT

25,334,427‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

1

.2

%

4,800,000

Bristol-Myers

Squibb

Co

2

.350

11/13/40

3,203,895‌

10,000,000

Bristol-Myers

Squibb

Co

3

.550

03/15/42

7,823,345‌

11,825,000

Bristol-Myers

Squibb

Co

3

.700

03/15/52

9,051,324‌

5,350,000

Gilead

Sciences,

Inc

2

.600

10/01/40

3,532,893‌

14,150,000

e

Gilead

Sciences,

Inc

2

.800

10/01/50

8,738,559‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

234

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

$

12,550,000

Merck

&

Co,

Inc

2

.150

%

12/10/31

$

10,121,984‌

8,800,000

Merck

&

Co,

Inc

2

.750

12/10/51

5,731,319‌

7,000,000

PerkinElmer,

Inc

2

.250

09/15/31

5,263,679‌

5,400,000

Pfizer,

Inc

1

.750

08/18/31

4,214,261‌

14,681,000

Takeda

Pharmaceutical

Co

Ltd

2

.050

03/31/30

11,605,115‌

8,500,000

Takeda

Pharmaceutical

Co

Ltd

3

.175

07/09/50

5,638,894‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

74,925,268‌

REAL

ESTATE

-

1

.3

%

1,975,000

Brandywine

Operating

Partnership

LP

3

.950

02/15/23

1,965,054‌

6,225,000

Brandywine

Operating

Partnership

LP

3

.950

11/15/27

5,478,600‌

5,975,000

Corporate

Office

Properties

LP

2

.750

04/15/31

4,392,703‌

6,600,000

Duke

Realty

LP

2

.875

11/15/29

5,620,331‌

8,800,000

Federal

Realty

Investment

Trust

1

.250

02/15/26

7,743,566‌

10,000,000

g

HAT

Holdings

I

LLC

3

.375

06/15/26

8,025,000‌

7,600,000

g

HAT

Holdings

I

LLC

3

.750

09/15/30

5,526,720‌

3,900,000

Host

Hotels

&

Resorts

LP

2

.900

12/15/31

2,862,282‌

4,725,000

Kilroy

Realty

LP

3

.450

12/15/24

4,526,053‌

8,000,000

National

Community

Renaissance

of

California

3

.270

12/01/32

6,298,473‌

5,442,000

Piedmont

Operating

Partnership

LP

3

.400

06/01/23

5,383,272‌

9,157,000

Regency

Centers

LP

3

.750

06/15/24

8,877,148‌

6,090,000

g

Scentre

Group

Trust

2

5

.125

09/24/80

4,957,686‌

7,310,000

UDR,

Inc

1

.900

03/15/33

5,066,327‌

TOTAL

REAL

ESTATE

76,723,215‌

RETAILING

-

0

.1

%

2,800,000

Advance

Auto

Parts,

Inc

1

.750

10/01/27

2,309,296‌

5,525,000

Lowe's

Cos,

Inc

2

.800

09/15/41

3,518,984‌

TOTAL

RETAILING

5,828,280‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0

.3

%

10,050,000

Intel

Corp

4

.150

08/05/32

9,151,940‌

8,158,000

NXP

BV

3

.400

05/01/30

6,798,782‌

2,850,000

g

SK

Hynix,

Inc

2

.375

01/19/31

2,107,322‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

18,058,044‌

SOFTWARE

&

SERVICES

-

0

.6

%

3,250,000

Autodesk,

Inc

2

.400

12/15/31

2,527,870‌

9,500,000

Automatic

Data

Processing,

Inc

1

.700

05/15/28

8,128,859‌

12,875,000

Automatic

Data

Processing,

Inc

1

.250

09/01/30

9,900,111‌

7,725,000

Mastercard,

Inc

1

.900

03/15/31

6,161,985‌

10,000,000

Visa,

Inc

1

.100

02/15/31

7,482,746‌

TOTAL

SOFTWARE

&

SERVICES

34,201,571‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0

.2

%

3,839,000

Apple,

Inc

2

.850

02/23/23

3,821,966‌

5,750,000

Apple,

Inc

3

.000

06/20/27

5,402,652‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

9,224,618‌

TELECOMMUNICATION

SERVICES

-

0

.7

%

9,000,000

i

Verizon

Communications,

Inc

SOFR

+

0.790%

3

.717

03/20/26

8,826,494‌

14,225,000

Verizon

Communications,

Inc

2

.550

03/21/31

11,357,640‌

22,950,000

Verizon

Communications,

Inc

3

.400

03/22/41

16,756,938‌

5,000,000

Vodafone

Group

plc

4

.125

06/04/81

3,462,500‌

TOTAL

TELECOMMUNICATION

SERVICES

40,403,572‌

TRANSPORTATION

-

0

.2

%

6,950,000

Canadian

Pacific

Railway

Co

2

.450

12/02/31

5,559,396‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

235

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TRANSPORTATION—continued

$

5,650,000

Canadian

Pacific

Railway

Co

3

.000

%

12/02/41

$

4,001,528‌

TOTAL

TRANSPORTATION

9,560,924‌

UTILITIES

-

9

.2

%

12,450,000

AES

Corp

2

.450

01/15/31

9,524,328‌

8,750,000

g

AES

Gener

S.A.

6

.350

10/07/79

7,526,881‌

8,500,000

Algonquin

Power

&

Utilities

Corp

4

.750

01/18/82

6,942,545‌

12,350,000

Ameren

Illinois

Co

2

.900

06/15/51

7,954,088‌

3,605,000

Arizona

Public

Service

Co

3

.750

05/15/46

2,591,238‌

4,500,000

Atlantic

City

Electric

Co

2

.300

03/15/31

3,646,198‌

5,420,000

g

Atlantica

Sustainable

Infrastructure

plc

4

.125

06/15/28

4,563,232‌

3,345,000

Avangrid,

Inc

3

.150

12/01/24

3,197,904‌

8,884,000

Avangrid,

Inc

3

.200

04/15/25

8,401,268‌

7,500,000

Avangrid,

Inc

3

.800

06/01/29

6,664,669‌

5,025,000

Avista

Corp

4

.350

06/01/48

4,234,812‌

5,025,000

g

Azure

Power

Solar

Energy

Pvt

Ltd

5

.650

12/24/24

4,155,144‌

7,050,000

g

Brooklyn

Union

Gas

Co

4

.632

08/05/27

6,635,440‌

10,000,000

g

Brooklyn

Union

Gas

Co

4

.866

08/05/32

9,154,875‌

10,000,000

g

Brooklyn

Union

Gas

Co

4

.487

03/04/49

7,514,676‌

9,850,000

CenterPoint

Energy

Houston

Electric

LLC

2

.350

04/01/31

8,036,143‌

7,350,000

CenterPoint

Energy

Houston

Electric

LLC

3

.350

04/01/51

5,269,344‌

3,050,000

CMS

Energy

Corp

4

.750

06/01/50

2,577,250‌

8,850,000

g

Colbun

S.A.

3

.150

01/19/32

6,761,632‌

14,500,000

Commonwealth

Edison

Co

2

.750

09/01/51

9,121,889‌

6,475,000

g

Consorcio

Transmantaro

SA

4

.700

04/16/34

5,585,193‌

9,350,000

Consumers

Energy

Co

2

.500

05/01/60

5,156,795‌

5,448,359

g

Continental

Wind

LLC

6

.000

02/28/33

5,474,749‌

4,876,200

g

Continuum

Energy

Levanter

Pte

Ltd

4

.500

02/09/27

3,934,265‌

7,115,000

Dominion

Energy,

Inc

3

.600

03/15/27

6,643,662‌

8,325,000

Dominion

Energy,

Inc

4

.350

N/A‡

7,062,585‌

4,850,000

Dominion

Energy,

Inc

(Step

Bond)

3

.071

08/15/24

4,651,068‌

11,725,000

DTE

Electric

Co

1

.900

04/01/28

9,976,863‌

9,025,000

DTE

Electric

Co

3

.250

04/01/51

6,329,239‌

12,000,000

DTE

Energy

Co

2

.850

10/01/26

10,934,467‌

10,000,000

Duke

Energy

Florida

LLC

2

.500

12/01/29

8,451,984‌

1,000,000

Duke

Energy

Progress

LLC

3

.450

03/15/29

906,697‌

3,350,000

g

East

Ohio

Gas

Co

1

.300

06/15/25

3,008,011‌

8,850,000

Eastern

Energy

Gas

Holdings

LLC

2

.500

11/15/24

8,395,259‌

7,059,000

g

Electricite

de

France

S.A.

3

.625

10/13/25

6,780,520‌

8,500,000

Essential

Utilities,

Inc

2

.704

04/15/30

6,957,294‌

7,800,000

Essential

Utilities,

Inc

3

.351

04/15/50

5,127,877‌

4,250,000

Evergy,

Inc

2

.550

07/01/26

3,890,723‌

8,882,000

Georgia

Power

Co

3

.250

04/01/26

8,324,112‌

250,000

Georgia

Power

Co

3

.250

03/15/51

164,875‌

8,700,000

Georgia

Power

Co

5

.125

05/15/52

7,842,563‌

8,096,850

g

India

Cleantech

Energy

4

.700

08/10/26

6,133,347‌

9,700,000

Interstate

Power

&

Light

Co

3

.500

09/30/49

6,915,205‌

7,445,000

g

Korea

Electric

Power

Corp

1

.125

06/15/25

6,707,553‌

7,925,000

g

Korea

Hydro

&

Nuclear

Power

Co

Ltd

3

.750

07/25/23

7,859,064‌

14,750,000

g

Liberty

Utilities

Finance

GP

2

.050

09/15/30

11,162,205‌

2,498,000

g

Massachusetts

Electric

Co

1

.729

11/24/30

1,848,727‌

6,875,000

MidAmerican

Energy

Co

3

.100

05/01/27

6,368,928‌

12,626,000

National

Fuel

Gas

Co

5

.500

01/15/26

12,399,641‌

200,000

National

Fuel

Gas

Co

3

.950

09/15/27

178,719‌

3,400,000

National

Fuel

Gas

Co

4

.750

09/01/28

3,135,015‌

11,274,000

National

Fuel

Gas

Co

2

.950

03/01/31

8,799,463‌

11,250,000

g

New

York

State

Electric

&

Gas

Corp

2

.150

10/01/31

8,713,387‌

20,500,000

g

Niagara

Mohawk

Power

Corp

1

.960

06/27/30

15,821,538‌

750,000

g

Niagara

Mohawk

Power

Corp

4

.278

10/01/34

642,726‌

8,400,000

g

Niagara

Mohawk

Power

Corp

5

.783

09/16/52

7,950,631‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

236

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

9,700,000

NiSource,

Inc

5

.000

%

06/15/52

$

8,465,878‌

5,250,000

Northwest

Natural

Gas

Co

3

.078

12/01/51

3,096,969‌

4,408,000

NorthWestern

Corp

4

.176

11/15/44

3,499,175‌

10,750,000

PacifiCorp

2

.900

06/15/52

6,878,686‌

7,075,000

Piedmont

Natural

Gas

Co,

Inc

3

.350

06/01/50

4,690,940‌

3,625,000

Public

Service

Co

of

Colorado

3

.200

03/01/50

2,541,507‌

2,975,000

Public

Service

Co

of

New

Hampshire

3

.600

07/01/49

2,251,016‌

6,150,000

Public

Service

Electric

&

Gas

Co

3

.200

08/01/49

4,282,314‌

7,500,000

San

Diego

Gas

&

Electric

Co

4

.150

05/15/48

6,001,288‌

13,988,000

San

Diego

Gas

&

Electric

Co

2

.950

08/15/51

9,086,680‌

3,280,000

SCE

Recovery

Funding

LLC

1

.977

11/15/28

2,976,643‌

7,100,000

SCE

Recovery

Funding

LLC

2

.943

11/15/42

5,499,841‌

2,640,000

SCE

Recovery

Funding

LLC

3

.240

11/15/46

1,937,507‌

5,000,000

Sempra

Energy

4

.875

N/A‡

4,650,000‌

6,250,000

g

Sociedad

de

Transmision

Austral

S.A.

4

.000

01/27/32

5,066,269‌

2,349,042

g

Solar

Star

Funding

LLC

3

.950

06/30/35

2,171,727‌

4,703,298

g

Solar

Star

Funding

LLC

5

.375

06/30/35

4,675,504‌

750,000

Southern

California

Edison

Co

2

.750

02/01/32

594,053‌

5,000,000

Southern

California

Edison

Co

3

.450

02/01/52

3,362,417‌

13,788,000

Southern

Power

Co

4

.150

12/01/25

13,306,860‌

14,825,000

Southwestern

Electric

Power

Co

3

.250

11/01/51

9,420,432‌

2,875,000

Southwestern

Public

Service

Co

3

.750

06/15/49

2,172,385‌

18,529,000

Southwestern

Public

Service

Co

3

.150

05/01/50

12,641,060‌

4,771,660

g

Star

Energy

Geothermal

Wayang

Windu

Ltd

6

.750

04/24/33

4,330,282‌

15,643,058

g

Sweihan

PV

Power

Co

PJSC

3

.625

01/31/49

12,322,407‌

5,000,000

g

TerraForm

Power

Operating

LLC

5

.000

01/31/28

4,405,150‌

7,275,636

g

Topaz

Solar

Farms

LLC

4

.875

09/30/39

6,329,803‌

775,359

g

Topaz

Solar

Farms

LLC

5

.750

09/30/39

713,354‌

8,305,191

g

UEP

Penonome

II

S.A.

6

.500

10/01/38

7,142,464‌

15,000,000

Union

Electric

Co

2

.150

03/15/32

11,584,046‌

16,400,000

Union

Electric

Co

2

.625

03/15/51

10,084,168‌

3,625,000

g

Vistra

Corp

7

.000

N/A‡

3,164,661‌

10,975,000

Wisconsin

Electric

Power

Co

4

.750

09/30/32

10,576,786‌

11,875,000

Wisconsin

Power

and

Light

Co

3

.950

09/01/32

10,730,135‌

TOTAL

UTILITIES

555,360,913‌

TOTAL

CORPORATE

BONDS

1,921,673,639‌

(Cost

$2,338,803,014)

GOVERNMENT

BONDS

-

52

.3

%

AGENCY

SECURITIES

-

4

.3

%

1,512,000

Canal

Barge

Co,

Inc

4

.500

11/12/34

1,448,898‌

13,014,095

Crowley

Conro

LLC

4

.181

08/15/43

12,167,396‌

409,421

Ethiopian

Leasing

LLC

2

.566

08/14/26

382,705‌

230,200

Excalibur

One

77B

LLC

1

.492

01/01/25

222,356‌

23,000,000

Federal

Home

Loan

Mortgage

Corp

(FHLMC)

0

.375

05/05/23

22,488,866‌

18,700,000

FHLMC

0

.250

08/24/23

18,051,238‌

13,600,000

FHLMC

0

.250

09/08/23

13,093,692‌

22,692,000

FHLMC

0

.250

12/04/23

21,650,691‌

14,000,000

FHLMC

1

.500

02/12/25

13,120,300‌

17,500,000

Federal

National

Mortgage

Association

(FNMA)

0

.250

07/10/23

16,976,303‌

8,600,000

FNMA

0

.625

04/22/25

7,836,970‌

16,800,000

FNMA

0

.875

08/05/30

13,139,999‌

7,909,000

Hashemite

Kingdom

of

Jordan

Government

AID

Bond

3

.000

06/30/25

7,605,108‌

4,292,550

HNA

LLC

2

.369

09/18/27

4,016,913‌

415,500

i

Housing

and

Urban

Development

Corp

Ltd

LIBOR

6

M

+

0.035%

3

.872

09/15/30

412,213‌

555,554

i

Jupiter

Aircraft

Leasing

LLC

LIBOR

3

M

+

0.240%

3

.217

08/19/23

554,544‌

555,551

i

Jupiter

Aircraft

Leasing

LLC

LIBOR

3

M

+

0.240%

3

.842

09/22/23

554,129‌

862,830

Overseas

Private

Investment

Corp

(OPIC)

2

.040

12/15/26

832,793‌

3,951,156

OPIC

3

.220

09/15/29

3,750,947‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

237

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

AGENCY

SECURITIES—continued

$

5,038,383

OPIC

1

.790

%

10/15/29

$

4,540,473‌

12,595,959

OPIC

2

.360

10/15/29

11,594,688‌

875,200

OPIC

4

.140

05/15/30

860,731‌

789,650

OPIC

3

.330

05/15/33

746,297‌

9,072,431

OPIC

3

.430

06/01/33

8,487,976‌

5,592,180

OPIC

2

.040

06/15/35

4,794,330‌

9,607,049

OPIC

2

.290

07/15/38

8,082,425‌

5,283,877

OPIC

2

.450

07/15/38

4,501,303‌

1,926,000

Private

Export

Funding

Corp

(PEFCO)

3

.550

01/15/24

1,907,990‌

1,765,000

PEFCO

3

.250

06/15/25

1,699,247‌

12,357,286

Thirax   LLC

0

.968

01/14/33

10,165,707‌

3,854,506

Thirax

2

LLC

2

.320

01/22/34

3,343,390‌

1,775,000

United

States

International

Development

Finance

Corp

1

.440

04/15/28

1,533,779‌

1,000,000

United

States

International

Development

Finance

Corp

1

.650

04/15/28

872,833‌

1,553,502

United

States

International

Development

Finance

Corp

1

.050

10/15/29

1,361,377‌

4,131,031

United

States

International

Development

Finance

Corp

1

.670

07/15/38

3,308,806‌

2,500,000

US

Department

of

Housing

and

Urban

Development

(HUD)

2

.618

08/01/23

2,473,695‌

2,000,000

HUD

2

.800

08/01/23

1,981,855‌

371,000

HUD

2

.910

08/01/23

367,966‌

2,257,000

HUD

2

.960

08/01/24

2,206,914‌

3,726,000

HUD

2

.870

08/01/27

3,461,274‌

420,000

HUD

5

.380

08/01/27

421,544‌

4,675,000

HUD

2

.985

08/01/28

4,346,253‌

1,931,000

HUD

3

.185

08/01/29

1,806,065‌

1,750,000

HUD

3

.585

08/01/37

1,507,951‌

833,333

VCM

Lease

S.A.

2

.516

09/28/27

783,257‌

4,262,000

Vessel

Management

Services,

Inc

3

.432

08/15/36

3,837,499‌

7,970,000

Vessel

Management

Services,

Inc

3

.477

01/16/37

7,197,063‌

3,397,912

i

Washington

Aircraft

2

Co

Ltd

LIBOR

3

M

+

0.430%

4

.071

06/26/24

3,391,602‌

TOTAL

AGENCY

SECURITIES

259,890,351‌

FOREIGN

GOVERNMENT

BONDS

-

7

.5

%

12,750,000

African

Development

Bank

0

.750

04/03/23

12,539,625‌

11,850,000

g

Arab

Petroleum

Investments

Corp

1

.483

10/06/26

10,478,470‌

1,000,000

Asian

Development

Bank

2

.125

03/19/25

946,193‌

9,732,000

Asian

Development

Bank

1

.750

08/14/26

8,823,967‌

16,194,000

Asian

Development

Bank

3

.125

09/26/28

15,202,583‌

12,500,000

Asian

Development

Bank

1

.500

03/04/31

10,261,521‌

EUR

7,925,000

g

Banque

Ouest

Africaine

de

Developpement

2

.750

01/22/33

5,623,589‌

7,500,000

g

BNG

Bank

NV

2

.625

02/27/24

7,316,915‌

CLP

9,475,000,000

g

Bonos

de

la

Tesoreria

de

la

Republica

en

pesos

2

.300

10/01/28

7,601,456‌

8,500,000

g

Caisse

d'Amortissement

de

la

Dette

Sociale

0

.375

09/23/25

7,533,040‌

4,750,000

g

Caisse

d'Amortissement

de

la

Dette

Sociale

1

.375

01/20/31

3,814,060‌

5,000,000

g

Caisse

d'Amortissement

de

la

Dette

Sociale

2

.125

01/26/32

4,200,400‌

19,600,000

e

Canada

Government

International

Bond

2

.875

04/28/25

18,894,792‌

7,000,000

g

CDP

Financial,

Inc

1

.000

05/26/26

6,172,234‌

10,050,000

Chile

Government

International

Bond

3

.100

05/07/41

6,809,425‌

9,500,000

Chile

Government

International

Bond

3

.500

01/25/50

6,452,927‌

6,625,000

Council

Of

Europe

Development

Bank

3

.000

06/16/25

6,395,495‌

12,500,000

g

Development

Bank

of

Japan,

Inc

0

.500

03/04/24

11,808,583‌

15,000,000

European

Bank

for

Reconstruction

&

Development

1

.625

09/27/24

14,226,258‌

1,000,000

European

Bank

for

Reconstruction

&

Development

1

.500

02/13/25

935,994‌

1,250,000

European

Investment

Bank

2

.375

05/24/27

1,155,438‌

3,725,000

European

Investment

Bank

0

.625

10/21/27

3,126,719‌

3,750,000

European

Investment

Bank

3

.250

11/15/27

3,589,391‌

10,500,000

European

Investment

Bank

1

.625

10/09/29

8,950,095‌

10,279,000

European

Investment

Bank

0

.750

09/23/30

7,991,386‌

9,300,000

g

European

Stability

Mechanism

1

.375

09/11/24

8,790,048‌

10,875,000

Export

Development

Canada

3

.375

08/26/25

10,563,105‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

238

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

2,500,000

Inter-American

Development

Bank

1

.125

%

01/13/31

$

1,992,451‌

10,625,000

Inter-American

Investment

Corp

2

.625

04/22/25

10,152,868‌

3,215,000

i

International

Bank

for

Reconstruction

&

Development

3

.287

06/17/24

3,228,016‌

14,000,000

International

Bank

for

Reconstruction

&

Development

0

.625

04/22/25

12,743,999‌

4,750,000

International

Bank

for

Reconstruction

&

Development

3

.125

11/20/25

4,579,760‌

20,000,000

International

Bank

for

Reconstruction

&

Development

0

.000

03/31/27

17,878,200‌

3,000,000

International

Bank

for

Reconstruction

&

Development

1

.625

11/03/31

2,462,679‌

2,900,000

International

Bank

for

Reconstruction

&

Development

2

.750

05/31/36

2,374,057‌

10,450,000

g

International

Development

Association

2

.750

04/24/23

10,362,429‌

6,905,000

International

Finance

Corp

2

.000

10/24/22

6,900,364‌

110,000

i

International

Finance

Corp

LIBOR

3

M

+

0.070%

3

.363

12/15/22

109,939‌

7,375,000

International

Finance

Corp

0

.500

03/20/23

7,256,263‌

3,250,000

e

International

Finance

Corp

2

.125

04/07/26

3,013,920‌

3,350,000

g

Japan

Finance

Organization

for

Municipalities

3

.375

09/27/23

3,315,864‌

8,750,000

e

Japan

International

Cooperation

Agency

1

.750

04/28/31

7,116,760‌

6,000,000

g

Kommunalbanken

AS.

2

.125

02/11/25

5,705,404‌

9,200,000

i

Kreditanstalt

fuer

Wiederaufbau

SOFR

+

1.000%

3

.612

02/12/24

9,314,361‌

11,750,000

Kreditanstalt

fuer

Wiederaufbau

0

.250

03/08/24

11,089,877‌

9,537,000

Kreditanstalt

fuer

Wiederaufbau

1

.000

10/01/26

8,381,429‌

3,586,000

e

Kreditanstalt

fuer

Wiederaufbau

0

.750

09/30/30

2,787,404‌

13,250,000

Landwirtschaftliche

Rentenbank

0

.875

09/03/30

10,413,594‌

6,000,000

g

Nederlandse

Waterschapsbank

NV

3

.125

12/05/22

5,994,614‌

10,000,000

g

Nederlandse

Waterschapsbank

NV

1

.750

01/15/25

9,436,840‌

7,750,000

g

Nederlandse

Waterschapsbank

NV

2

.375

03/24/26

7,240,005‌

2,500,000

North

American

Development

Bank

2

.400

10/26/22

2,498,200‌

11,250,000

g

OMERS

Finance

Trust

3

.500

04/19/32

10,227,214‌

8,000,000

g

OMERS

Finance

Trust

4

.000

04/19/52

6,684,298‌

6,000,000

g

Perusahaan

Penerbit

SBSN

Indonesia

III

3

.750

03/01/23

5,974,009‌

5,900,000

g

Perusahaan

Penerbit

SBSN

Indonesia

III

3

.900

08/20/24

5,835,336‌

10,690,000

Peruvian

Government

International

Bond

3

.000

01/15/34

8,026,660‌

5,000,000

Province

of

Quebec

Canada

2

.750

04/12/27

4,677,307‌

15,000,000

e

Province

of

Quebec

Canada

1

.900

04/21/31

12,418,500‌

10,000,000

Republic

of

Italy

Government

International

Bond

2

.875

10/17/29

8,165,336‌

10,750,000

e

Republic

of

Italy

Government

International

Bond

4

.000

10/17/49

7,638,076‌

4,250,000

Seychelles

International

Bond

6

.500

10/11/28

3,530,815‌

TOTAL

FOREIGN

GOVERNMENT

BONDS

449,730,557‌

MORTGAGE

BACKED

-

16

.1

%

5,100,000

g,i

Connecticut

Avenue

Securities

Trust

4

.181

12/25/41

4,656,853‌

3,000,000

g,i

Connecticut

Avenue

Securities

Trust

6

.781

01/25/42

2,695,007‌

6,340,000

g,i

Connecticut

Avenue

Securities

Trust

5

.381

03/25/42

5,953,987‌

11,580,000

g,i

Connecticut

Avenue

Securities

Trust

6

.131

05/25/42

10,995,059‌

6,275,000

g,i

Connecticut

Avenue

Securities

Trust

6

.955

06/25/42

6,224,012‌

89,501

Federal

Home

Loan

Mortgage

Corp

(FHLMC)

4

.000

06/01/42

85,035‌

509,301

i

FHLMC

LIBOR

1

M

+

5.920%

3

.102

03/15/44

45,828‌

4,818,431

FHLMC

4

.000

10/01/47

4,566,468‌

17,027,872

FHLMC

4

.000

06/01/48

16,108,944‌

809,943

i

FHLMC

LIBOR

1

M

+

9.920%

5

.412

06/15/48

755,833‌

4,438,323

FHLMC

4

.000

07/01/48

4,195,250‌

713,356

i

FHLMC

LIBOR

1

M

+

9.840%

5

.332

10/15/48

649,256‌

3,991,720

FHLMC

4

.000

09/01/49

3,770,470‌

2,354,835

FHLMC

3

.000

11/01/49

2,085,410‌

8,795,140

FHLMC

2

.000

09/25/50

1,036,462‌

15,221,663

FHLMC

2

.500

02/25/51

2,439,419‌

9,125,639

FHLMC

3

.000

11/01/51

8,085,393‌

420,728

FHLMC

3

.000

11/01/51

370,188‌

1,111,402

FHLMC

3

.000

11/01/51

989,769‌

1,647,294

FHLMC

3

.000

11/01/51

1,459,515‌

18,715,100

FHLMC

2

.000

02/01/52

15,225,400‌

20,817,466

FHLMC

2

.500

02/01/52

17,590,948‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

239

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

15,196,064

FHLMC

2

.500

%

03/01/52

$

12,831,311‌

18,723,085

FHLMC

2

.500

03/01/52

15,766,954‌

2,441,827

FHLMC

3

.000

04/01/52

2,137,403‌

9,753,602

FHLMC

4

.500

06/01/52

9,318,019‌

9,377,645

FHLMC

4

.500

07/01/52

8,958,852‌

1,334,679

FHLMC

4

.000

08/25/52

1,188,194‌

96,960

Federal

Home

Loan

Mortgage

Corp

Gold

(FGLMC)

5

.000

06/01/36

97,826‌

88,894

FGLMC

4

.500

12/01/43

87,240‌

83,842

FGLMC

4

.500

02/01/44

82,295‌

785,050

FGLMC

5

.000

08/01/44

792,051‌

144,184

FGLMC

3

.500

04/01/45

132,577‌

3,180,007

FGLMC

3

.500

08/01/45

2,935,814‌

930,974

FGLMC

4

.000

12/01/45

887,775‌

1,738,126

FGLMC

3

.500

02/01/47

1,601,914‌

219,990

FGLMC

4

.500

06/01/47

216,084‌

327,347

FGLMC

4

.000

09/01/47

311,210‌

69,487

FGLMC

3

.500

12/01/47

63,633‌

361,657

FGLMC

4

.000

07/01/48

342,237‌

1,468,797

FGLMC

4

.500

08/01/48

1,433,721‌

3,750,000

Federal

National

Mortgage

Association

(FNMA)

2

.125

04/24/26

3,488,592‌

73,166

FNMA

3

.500

07/01/26

69,426‌

4,315,726

i

FNMA

2

.851

02/25/27

4,028,549‌

9,090,107

i

FNMA

3

.412

06/25/28

8,538,747‌

15,250,000

i

FNMA

1

.515

11/25/30

12,103,216‌

15,500,000

i

FNMA

1

.292

01/25/31

12,042,462‌

294,976

FNMA

3

.500

05/01/32

280,586‌

4,154,468

FNMA

3

.000

10/01/32

3,871,864‌

17,233

FNMA

2

.500

10/01/36

15,655‌

7,363,757

FNMA

3

.000

09/01/37

6,842,287‌

10,740,000

FNMA

3

.500

10/01/37

10,158,522‌

17,290,000

h

FNMA

4

.000

10/25/37

16,679,447‌

8,645,000

h

FNMA

4

.500

10/25/37

8,489,660‌

128,028

FNMA

5

.500

11/01/38

132,249‌

3,682,416

FNMA

3

.000

05/01/40

3,283,668‌

1,038,741

FNMA

3

.500

05/01/40

962,100‌

294,769

FNMA

5

.000

09/01/40

297,088‌

461,188

FNMA

5

.000

04/01/41

464,830‌

13,299,373

FNMA

2

.000

03/01/42

11,115,240‌

1,445,310

FNMA

4

.000

09/01/42

1,372,221‌

669,662

i

FNMA

LIBOR

1

M

+

5.950%

2

.866

09/25/43

67,444‌

710,729

FNMA

4

.000

01/01/44

676,520‌

43,390

FNMA

4

.500

06/01/44

42,244‌

261,860

FNMA

4

.500

06/01/44

254,963‌

112,883

FNMA

4

.500

08/01/44

109,833‌

218,127

FNMA

4

.500

11/01/44

212,405‌

607,555

FNMA

4

.000

01/01/45

575,181‌

218,783

FNMA

4

.500

03/01/45

213,016‌

1,004,227

FNMA

4

.000

12/01/45

954,298‌

650,326

FNMA

3

.500

01/01/46

597,420‌

136,966

FNMA

4

.000

01/01/46

130,099‌

731,269

FNMA

4

.000

04/01/46

692,444‌

924,974

FNMA

3

.500

06/01/46

849,760‌

1,308,206

FNMA

3

.500

07/01/46

1,201,800‌

1,793,894

FNMA

3

.500

07/01/46

1,647,770‌

1,920,351

FNMA

3

.500

08/01/46

1,764,162‌

2,514,663

FNMA

3

.000

10/01/46

2,175,094‌

2,971,744

FNMA

3

.500

01/01/47

2,719,701‌

131,842

FNMA

4

.500

05/01/47

129,174‌

536,018

FNMA

4

.000

10/01/47

507,362‌

4,259,173

FNMA

3

.500

11/01/47

3,912,433‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

240

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

256,537

FNMA

4

.500

%

11/01/47

$

248,841‌

4,964,324

FNMA

4

.000

12/01/47

4,680,483‌

99,684

FNMA

3

.500

01/01/48

91,099‌

3,262,934

FNMA

3

.500

01/01/48

2,984,245‌

899,547

FNMA

4

.500

01/01/48

877,167‌

240,117

FNMA

4

.500

02/01/48

234,144‌

497,790

FNMA

4

.000

03/01/48

470,371‌

954,030

FNMA

4

.500

03/01/48

930,305‌

477,269

FNMA

4

.500

05/01/48

465,401‌

652,355

FNMA

4

.500

05/01/48

636,140‌

235,032

FNMA

5

.000

08/01/48

232,538‌

10,825,647

FNMA

4

.500

10/01/48

10,872,446‌

15,211,632

FNMA

3

.000

07/01/50

13,379,589‌

4,661,268

FNMA

2

.000

08/25/50

657,669‌

13,382,307

FNMA

2

.500

11/25/50

1,978,653‌

4,580,859

FNMA

3

.000

12/25/50

719,930‌

4,412,538

FNMA

3

.000

02/25/51

907,851‌

34,721,182

FNMA

2

.000

04/01/51

28,271,742‌

2,285,670

FNMA

3

.000

09/01/51

2,012,155‌

4,795,150

FNMA

2

.500

11/25/51

675,603‌

14,584,559

FNMA

2

.000

12/01/51

11,851,562‌

8,297,676

FNMA

2

.500

01/01/52

6,989,316‌

723,739

FNMA

3

.000

01/01/52

634,356‌

17,742,350

FNMA

2

.000

02/01/52

14,433,885‌

13,001,373

FNMA

2

.500

02/01/52

10,978,109‌

13,720,472

FNMA

2

.500

02/01/52

11,545,604‌

10,568,523

FNMA

2

.500

02/01/52

8,895,511‌

22,332,347

FNMA

2

.500

02/01/52

18,871,017‌

8,162,753

FNMA

3

.500

02/01/52

7,397,603‌

8,358,686

FNMA

2

.000

03/01/52

6,792,250‌

20,942,671

FNMA

2

.000

03/01/52

17,017,955‌

1,960,510

FNMA

2

.500

04/01/52

1,656,678‌

2,815,812

FNMA

3

.000

04/01/52

2,464,760‌

24,290,675

FNMA

3

.000

04/01/52

21,210,189‌

3,694,958

FNMA

3

.000

04/01/52

3,234,286‌

39,054,382

FNMA

3

.000

04/01/52

34,185,434‌

29,855,873

FNMA

3

.000

04/01/52

26,078,131‌

1,419,615

h

FNMA

3

.500

04/01/52

1,279,232‌

12,481,011

FNMA

3

.500

05/01/52

11,246,905‌

22,918,671

FNMA

4

.000

05/01/52

21,300,598‌

17,041,314

h

FNMA

3

.500

06/01/52

15,371,215‌

7,883,737

FNMA

4

.000

06/01/52

7,323,944‌

5,017,298

FNMA

4

.500

06/01/52

4,793,232‌

16,819,810

FNMA

4

.000

07/01/52

15,625,303‌

4,098,760

FNMA

4

.500

07/01/52

3,915,715‌

24,082,349

FNMA

4

.500

07/01/52

23,006,863‌

28,550,771

FNMA

5

.000

08/01/52

27,842,220‌

7,607,861

FNMA

3

.500

09/01/52

6,856,683‌

13,276,345

FNMA

4

.000

09/01/52

12,325,241‌

5,391,151

FNMA

5

.000

09/01/52

5,257,398‌

1,675,567

FNMA

4

.000

09/25/52

1,454,339‌

1,907,340

FNMA

4

.000

09/25/52

1,682,396‌

1,600,000

†

FNMA

4

.500

10/25/52

1,539,937‌

1,825,000

†

FNMA

4

.500

10/25/52

1,769,494‌

8,300,000

h

FNMA

6

.000

11/25/52

8,400,832‌

1,900,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.681

10/25/41

1,706,427‌

1,270,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.781

03/25/42

1,218,530‌

15,185,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.631

05/25/42

14,467,653‌

6,385,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.985

09/25/42

6,217,195‌

2,835,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

4

.581

08/25/33

2,749,801‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

241

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

3,180,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

3

.700

%

11/25/41

$

2,812,598‌

12,750,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

4

.681

02/25/42

11,872,021‌

12,600,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

6

.781

06/25/42

12,659,951‌

4,030,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

6

.281

07/25/42

3,871,609‌

598,533

Government

National

Mortgage

Association

(GNMA)

2

.690

06/15/33

552,137‌

30,716

GNMA

5

.000

06/20/42

31,143‌

8,673,906

GNMA

2

.500

12/20/43

7,772,743‌

11,566,592

GNMA

2

.750

01/15/45

10,382,467‌

576,566

GNMA

4

.000

06/20/46

81,389‌

2,678,384

GNMA

3

.500

12/20/46

2,474,748‌

1,824,948

GNMA

3

.500

01/20/47

1,688,213‌

1,583,944

GNMA

3

.500

10/20/50

1,450,798‌

5,000,465

GNMA

3

.000

07/20/51

4,446,372‌

3,247,000

†

GNMA

4

.500

09/20/51

3,106,973‌

4,650,955

GNMA

2

.500

02/20/52

3,860,399‌

21,899,279

GNMA

2

.500

05/20/52

18,856,363‌

63,544,760

GNMA

3

.000

05/20/52

56,265,579‌

2,254,958

GNMA

4

.000

07/20/52

1,923,616‌

7,723,948

GNMA

4

.000

08/20/52

7,225,048‌

4,770,000

GNMA

4

.000

09/20/52

4,459,853‌

2,710,572

†

GNMA

4

.500

09/20/52

2,492,286‌

3,247,000

†

GNMA

4

.500

09/20/52

3,096,993‌

4,306,466

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

03/25/52

3,397,789‌

3,842,394

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

03/25/52

3,328,151‌

3,609,251

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

05/01/52

3,112,696‌

1,149,530

g,i

J.P.

Morgan

Mortgage

Trust

2

.927

05/25/52

886,228‌

2,474,442

g,i

J.P.

Morgan

Mortgage

Trust

3

.000

11/25/52

2,055,927‌

2,909,249

g,i

J.P.

Morgan

Mortgage

Trust

3

.000

12/25/52

2,341,122‌

5,914,677

g,i

JP

Morgan

Mortgage

Trust

2

.500

07/25/52

4,688,757‌

2,909,395

g,i

JP

Morgan

Mortgage

Trust

3

.250

07/25/52

2,474,207‌

9,348,493

g,i

JP

Morgan

Mortgage

Trust

3

.000

08/25/52

7,581,091‌

4,699,242

g,i

JP

Morgan

Mortgage

Trust

3

.000

10/25/52

3,810,815‌

4,083,319

g,i

JP

Morgan

Mortgage

Trust

3

.000

11/25/52

3,321,505‌

TOTAL

MORTGAGE

BACKED

964,134,906‌

MUNICIPAL

BONDS

-

6

.7

%

2,000,000

Brunswick

&

Glynn

County

Development

Authority

3

.060

04/01/25

1,933,761‌

3,000,000

California

Earthquake

Authority

1

.477

07/01/23

2,929,145‌

950,000

California

Health

Facilities

Financing

Authority

4

.353

06/01/41

842,750‌

670,000

g

California

Municipal

Finance

Authority

4

.250

11/01/23

664,742‌

6,400,000

g

California

Municipal

Finance

Authority

6

.375

11/15/48

5,466,330‌

5,825,000

California

Municipal

Finance

Authority

3

.594

08/15/51

4,107,668‌

12,250,000

Chicago

Housing

Authority

4

.361

01/01/38

11,306,574‌

16,465,000

Chicago

Metropolitan

Water

Reclamation

District-

Greater

Chicago

5

.720

12/01/38

17,765,238‌

1,000,000

Chicago

Park

District

4

.095

01/01/26

970,997‌

625,000

Chula

Vista

Municipal

Financing

Authority

3

.775

12/01/33

562,097‌

1,350,000

Chula

Vista

Municipal

Financing

Authority

3

.975

12/01/38

1,164,948‌

740,000

Chula

Vista

Municipal

Financing

Authority

4

.075

12/01/41

621,983‌

4,300,000

Chula

Vista

Municipal

Financing

Authority

4

.275

12/01/48

3,529,067‌

5,730,000

City

&

County

of

Honolulu

HI

3

.944

09/01/34

5,229,836‌

935,000

City

&

County

of

San

Francisco

CA

3

.700

04/01/34

840,327‌

440,000

City

&

County

of

San

Francisco

CA

3

.750

04/01/35

392,464‌

5,835,000

City

&

County

of

San

Francisco

CA

3

.900

04/01/42

4,942,624‌

5,405,000

City

&

County

of

San

Francisco

CA

Community

Facilities

District

3

.750

09/01/37

4,654,443‌

4,610,000

City

&

County

of

San

Francisco

CA

Community

Facilities

District

4

.221

09/01/39

4,070,911‌

5,000,000

City

&

County

of

San

Francisco

CA

Community

Facilities

District

4

.000

09/01/48

4,022,060‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

242

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MUNICIPAL

BONDS—continued

$

5,480,000

City

&

County

of

San

Francisco

CA

Community

Facilities

District

3

.482

%

09/01/50

$

3,928,350‌

1,925,000

City

of

Berkeley

CA

3

.250

09/01/35

1,626,091‌

8,885,000

City

of

Berkeley

CA

3

.750

09/01/43

7,001,859‌

2,490,000

City

of

Chicago

IL

7

.750

01/01/42

2,653,764‌

510,000

City

of

Chicago

IL

7

.750

01/01/42

532,681‌

650,000

City

of

Detroit

MI

2

.511

04/01/25

601,827‌

745,000

City

of

Detroit

MI

2

.711

04/01/26

671,615‌

525,000

City

of

Detroit

MI

3

.644

04/01/34

421,885‌

2,750,000

City

of

Florence

SC

4

.250

12/01/34

2,558,091‌

4,000,000

City

of

Los

Angeles

CA

3

.500

09/01/37

3,329,534‌

9,060,000

City

of

Los

Angeles

CA

3

.880

09/01/38

7,938,913‌

7,000,000

City

of

Los

Angeles

CA

5

.000

09/01/42

6,717,110‌

5,850,000

City

of

Los

Angeles

Department

of

Airports

Customer

Facility

Charge

Revenue

4

.242

05/15/48

4,977,697‌

870,000

g

City

of

Miami

FL

4

.808

01/01/39

816,003‌

170,000

City

of

Mount

Shasta

CA

4

.000

08/01/29

176,243‌

190,000

City

of

Mount

Shasta

CA

3

.000

08/01/32

171,194‌

2,685,000

City

of

Oakland

CA

1

.830

01/15/27

2,375,561‌

12,615,000

City

of

San

Francisco

CA

Public

Utilities

Commission

Water

Revenue

3

.303

11/01/39

10,314,415‌

22,745,000

City

of

San

Francisco

CA

Public

Utilities

Commission

Water

Revenue

2

.825

11/01/41

17,074,490‌

5,750,000

City

of

San

Francisco

CA

Public

Utilities

Commission

Water

Revenue

4

.185

11/01/46

4,887,927‌

1,385,000

City

of

San

Juan

Capistrano

CA

4

.190

08/01/40

1,231,956‌

5,255,000

City

of

Seattle

WA

Local

Improvement

District

No

6751

2

.999

11/01/43

4,343,823‌

5,240,000

City

of

Seattle

WA

Local

Improvement

District

No

6751

3

.079

11/01/43

4,281,937‌

360,000

Clean

Water

Services

5

.701

10/01/30

379,517‌

2,730,000

Commonwealth

Financing

Authority

3

.864

06/01/38

2,325,084‌

1,250,000

Connecticut

Green

Bank

2

.900

11/15/35

1,003,299‌

5,000,000

County

of

Alameda

CA

3

.820

08/01/38

4,369,749‌

4,500,000

g

County

of

Fond

Du

Lac

WI

5

.569

11/01/51

4,301,546‌

3,500,000

g

County

of

Gallatin

MT

11

.500

09/01/27

3,650,409‌

1,500,000

County

of

Miami-Dade

FL

Aviation

Revenue

2

.218

10/01/22

1,500,000‌

12,020,000

County

of

Miami-Dade

FL

Water

&

Sewer

System

Revenue

3

.490

10/01/42

9,402,538‌

2,730,000

County

of

Saline

AR

4

.000

06/01/37

2,390,563‌

3,500,000

District

of

Columbia

3

.432

04/01/42

2,597,892‌

1,900,000

District

of

Columbia

Water

&

Sewer

Authority

4

.814

10/01/14

1,672,199‌

1,550,000

†,g,q

Finance

Authority

of

Maine

5

.375

12/15/33

10,540‌

500,000

†,q

Finance

Authority

of

Maine

5

.250

06/15/34

3,400‌

6,550,000

g

Florida

Development

Finance

Corp

7

.250

07/01/57

6,394,870‌

20,000,000

Grant

County

Public

Utility

District

No

2

2

.918

01/01/40

14,807,252‌

9,405,000

Grant

County

Public

Utility

District

No

2

3

.210

01/01/40

7,193,621‌

9,375,000

Great

Lakes

Water

Authority

Sewage

Disposal

System

Revenue

3

.056

07/01/39

7,295,921‌

13,265,000

Great

Lakes

Water

Authority

Water

Supply

System

Revenue

3

.473

07/01/41

10,698,257‌

1,180,000

Idaho

State

Building

Authority

3

.202

09/01/37

978,611‌

3,105,000

Jackson

County

Industrial

Development

Authority

4

.250

05/01/39

2,756,901‌

2,000,000

Kern

County

Water

Agency

Improvement

District

No

4

4

.276

05/01/36

1,869,407‌

450,000

Klickitat

County

Public

Utilities

3

.688

12/01/38

368,947‌

1,000,000

Lavaca-Navidad

River

Authority

4

.430

08/01/35

953,717‌

7,690,000

Los

Angeles

Community

College

District

2

.106

08/01/32

6,030,353‌

1,300,000

Maine

State

Housing

Authority

2

.481

11/15/31

1,071,906‌

2,490,000

Maryland

Community

Development

Administration

Housing

Revenue

3

.797

03/01/39

2,396,759‌

3,000,000

Massachusetts

Clean

Energy

Cooperative

Corp

2

.020

07/01/28

2,571,507‌

2,705,000

Massachusetts

St.

Water

Pollution

Abatement

5

.192

08/01/40

2,730,058‌

6,000,000

Massachusetts

Water

Resources

Authority

3

.104

08/01/39

4,748,987‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

243

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MUNICIPAL

BONDS—continued

$

10,735,000

Metropolitan

Transportation

Authority

5

.175

%

11/15/49

$

9,585,553‌

4,065,000

New

York

City

Housing

Development

Corp

3

.119

08/01/38

3,070,582‌

2,500,000

New

York

City

Housing

Development

Corp

3

.720

11/01/39

2,026,745‌

1,370,000

New

York

State

Energy

Research

&

Development

Authority

2

.465

10/01/26

1,249,995‌

1,210,000

New

York

State

Energy

Research

&

Development

Authority

2

.665

10/01/27

1,088,312‌

1,045,000

New

York

State

Energy

Research

&

Development

Authority

2

.879

10/01/28

925,353‌

230,000

New

York

State

Energy

Research

&

Development

Authority

4

.577

04/01/35

226,622‌

2,115,000

New

York

State

Environmental

Facilities

Corp

3

.420

07/15/26

2,041,233‌

1,500,000

New

York

Transportation

Development

Corp

1

.610

12/01/22

1,492,298‌

7,500,000

New

York

Transportation

Development

Corp

5

.000

01/01/26

7,556,247‌

1,500,000

g

Ohio

Air

Quality

Development

Authority

4

.250

01/15/38

1,364,415‌

2,000,000

g

Ohio

Air

Quality

Development

Authority

4

.500

01/15/48

1,745,718‌

13,180,000

Ohio

State

Water

Development

Authority

4

.879

12/01/34

13,279,576‌

5,750,000

†,g,q

Oregon

State

Business

Development

Commission

6

.500

04/01/31

419,750‌

2,000,000

†,q

Oregon

State

Business

Development

Commission

11

.500

04/01/31

120,000‌

2,665,000

Papio-Missouri

River

Natural

Resource

District

2

.198

12/15/25

2,475,832‌

2,080,000

Papio-Missouri

River

Natural

Resource

District

2

.318

12/15/26

1,900,626‌

3,250,000

Papio-Missouri

River

Natural

Resource

District

2

.482

12/15/27

2,930,095‌

2,725,000

Pend

Oreille

County

Public

Utility

District

No

Box

Canyon

5

.000

01/01/30

2,678,494‌

7,250,000

g

Pennsylvania

Economic

Development

Financing

Authority

10

.000

12/01/29

6,715,210‌

275,000

Pharr

Economic

Development

Corp

3

.216

08/15/27

256,412‌

1,110,000

Pharr

Economic

Development

Corp

3

.401

08/15/29

1,009,780‌

1,735,000

g

Public

Finance

Authority

7

.500

06/01/29

1,695,900‌

300,000

Redevelopment

Authority

of

the

City

of

Philadelphia

1

.377

09/01/25

272,806‌

1,750,000

Redevelopment

Authority

of

the

City

of

Philadelphia

3

.172

09/01/41

1,319,721‌

1,000,000

Rhode

Island

Housing

&

Mortgage

Finance

Corp

3

.300

10/01/39

831,980‌

1,450,000

Rhode

Island

Housing

&

Mortgage

Finance

Corp

3

.400

10/01/44

1,146,468‌

6,950,000

Rhode

Island

Housing

&

Mortgage

Finance

Corp

3

.500

10/01/51

5,498,179‌

1,000,000

San

Francisco

City

&

County

Redevelopment

Agency

3

.533

08/01/25

964,993‌

1,000,000

San

Francisco

City

&

County

Redevelopment

Agency

4

.375

08/01/44

808,159‌

250,000

Sangamon

County

Water

Reclamation

District

2

.507

01/01/29

223,294‌

2,500,000

Sangamon

County

Water

Reclamation

District

2

.907

01/01/34

1,983,647‌

2,050,000

Sangamon

County

Water

Reclamation

District

3

.272

01/01/37

1,583,049‌

3,000,000

Semitropic

Improvement

District

2

.499

12/01/25

2,811,064‌

1,000,000

Semitropic

Improvement

District

of

the

Semitropic

Water

Storage

District

3

.293

12/01/35

829,722‌

1,900,000

h

South

Dakota

Housing

Development

Authority

5

.460

05/01/53

1,909,688‌

130,000

g

South

Davis

Sewer

District

3

.750

12/01/22

129,503‌

1,000,000

South

Davis

Sewer

District

4

.125

12/01/32

933,911‌

1,100,000

South

Davis

Sewer

District

4

.500

12/01/37

1,011,075‌

2,090,000

State

of

California

4

.600

04/01/38

1,956,914‌

2,480,000

State

of

California

4

.988

04/01/39

2,481,677‌

1,000,000

State

of

Texas

3

.726

08/01/43

995,109‌

6,625,000

Stockton

Public

Financing

Authority

3

.610

10/01/40

5,361,797‌

2,400,000

g

Syracuse

Industrial

Development

Agency

5

.000

01/01/36

1,614,647‌

1,000,000

Texas

Water

Development

Board

3

.500

10/15/37

862,387‌

7,500,000

Texas

Water

Development

Board

4

.190

10/15/43

6,802,982‌

3,000,000

Texas

Water

Development

Board

3

.700

10/15/47

2,406,677‌

3,000,000

Texas

Water

Development

Board

4

.648

04/15/50

2,797,196‌

2,000,000

University

of

New

Mexico

3

.532

06/20/32

1,872,172‌

4,400,000

Upper

Santa

Clara

Valley

Joint

Powers

Authority

3

.875

08/01/48

3,486,388‌

5,000,000

Vermont

Educational

&

Health

Buildings

Financing

Agency

4

.000

12/01/42

4,360,687‌

750,000

Vermont

Educational

&

Health

Buildings

Financing

Agency

4

.000

12/01/46

635,690‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

244

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MUNICIPAL

BONDS—continued

$

750,000

Village

of

Bellwood

IL

5

.375

%

12/01/32

$

704,236‌

4,460,000

Village

of

Bellwood

IL

6

.000

12/01/50

3,963,265‌

1,000,000

g

Warm

Springs

Reservation

Confederated

Tribe

3

.300

11/01/27

945,488‌

1,250,000

g

Warm

Springs

Reservation

Confederated

Tribe

3

.550

11/01/32

1,117,382‌

530,000

Washington

County

Clean

Water

Services

5

.078

10/01/24

535,306‌

1,905,000

†,g,q

Washington

Economic

Development

Finance

Authority

7

.500

01/01/32

764,095‌

650,000

Yuba

City

Public

Financing

Authority

3

.960

06/01/32

607,918‌

1,500,000

Yuba

City

Public

Financing

Authority

4

.320

06/01/42

1,317,733‌

TOTAL

MUNICIPAL

BONDS

404,826,494‌

U.S.

TREASURY

SECURITIES

-

17

.7

%

2,500,000

United

States

Treasury

Bond

3

.125

05/15/48

2,161,719‌

2,500,000

United

States

Treasury

Bond

3

.000

02/15/49

2,132,812‌

31,509,720

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.375

07/15/23

31,013,688‌

15,713,404

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.625

01/15/24

15,344,302‌

23,494,600

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.500

04/15/24

22,829,532‌

14,434,750

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

10/15/24

13,880,854‌

9,100,000

United

States

Treasury

Note

0

.125

12/31/22

9,025,867‌

6,140,000

United

States

Treasury

Note

0

.125

03/31/23

6,027,273‌

7,450,000

United

States

Treasury

Note

0

.125

08/31/23

7,173,826‌

1,092,000

United

States

Treasury

Note

1

.875

08/31/24

1,044,225‌

81,205,000

United

States

Treasury

Note

4

.250

09/30/24

81,243,065‌

1,395,000

United

States

Treasury

Note

2

.250

10/31/24

1,339,472‌

620,000

United

States

Treasury

Note

2

.875

04/30/25

599,002‌

18,614,000

United

States

Treasury

Note

3

.500

09/15/25

18,234,449‌

213,641,000

e

United

States

Treasury

Note

3

.125

08/31/27

204,928,453‌

2,000,000

United

States

Treasury

Note

4

.125

09/30/27

2,006,562‌

3,235,000

United

States

Treasury

Note

0

.500

10/31/27

2,708,049‌

6,025,000

United

States

Treasury

Note

0

.625

11/30/27

5,064,530‌

46,750,000

United

States

Treasury

Note

1

.125

08/31/28

39,578,623‌

9,000,000

United

States

Treasury

Note

1

.375

10/31/28

7,709,766‌

25,570,000

United

States

Treasury

Note

3

.125

08/31/29

24,267,528‌

336,175,000

United

States

Treasury

Note

2

.750

08/15/32

307,390,016‌

14,543,000

United

States

Treasury

Note

1

.875

02/15/41

10,301,102‌

9,700,000

United

States

Treasury

Note

2

.250

05/15/41

7,332,973‌

116,487,800

j

United

States

Treasury

Note

2

.375

02/15/42

89,258,777‌

19,066,000

United

States

Treasury

Note

3

.250

05/15/42

16,921,075‌

27,886,000

e

United

States

Treasury

Note

3

.375

08/15/42

25,258,616‌

31,783,000

United

States

Treasury

Note

2

.250

02/15/52

23,092,336‌

101,707,500

United

States

Treasury

Note

2

.875

05/15/52

85,291,274‌

TOTAL

U.S.

TREASURY

SECURITIES

1,063,159,766‌

TOTAL

GOVERNMENT

BONDS

3,141,742,074‌

(Cost

$3,479,468,716)

STRUCTURED

ASSETS

-

13

.1

%

ASSET

BACKED

-

4

.7

%

450,000

g

AMSR

Trust

3

.148

01/19/39

401,908‌

Series

-

2019

SFR1

(Class

C)

400,000

g

AMSR

Trust

3

.247

01/19/39

353,755‌

Series

-

2019

SFR1

(Class

D)

2,500,000

g,i

BFLD

Trust

LIBOR

1

M

+

2.100%

4

.918

10/15/35

2,368,459‌

Series

-

2020

EYP

(Class

C)

107,607

i

C-BASS

Trust

LIBOR

1

M

+

0.160%

3

.244

07/25/36

102,208‌

Series

-

2006

CB6

(Class

A1)

1,447,025

†,g,i

CBRE

Realty

Finance

LIBOR

3

M

+

0.300%

0

.438

04/07/52

3,618‌

Series

-

2007

1A

(Class

A2)

1,401,321

i

Chase

Funding

Loan

Acquisition

Trust

LIBOR

1

M

+

0.855%

3

.939

06/25/34

1,300,865‌

Series

-

2004

OPT1

(Class

M1)

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

245

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

2,078,646

Delta

Air

Lines

Pass

Through

Trust

4

.250

%

07/30/23

$

2,029,442‌

Series

-

2015

1

(Class

B)

2,850,000

Delta

Air

Lines

Pass

Through

Trust

3

.204

04/25/24

2,753,649‌

Series

-

2019

1

(Class

AA)

13,700,000

Delta

Air

Lines

Pass

Through

Trust

3

.404

04/25/24

12,963,759‌

Series

-

2019

1

(Class

A)

6,779,173

Delta

Air

Lines

Pass

Through

Trust

2

.000

06/10/28

5,749,812‌

Series

-

2020

1

(Class

AA)

17,122,997

Delta

Air

Lines

Pass

Through

Trust

2

.500

06/10/28

14,349,557‌

Series

-

2020

1

(Class

A)

848,250

g

Domino's

Pizza

Master

Issuer

LLC

4

.474

10/25/45

811,188‌

Series

-

2015

1A

(Class

A2II)

770,000

g

Domino's

Pizza

Master

Issuer

LLC

4

.116

07/25/48

724,733‌

Series

-

2018

1A

(Class

A2I)

227,285

g,i

Ellington

Loan

Acquisition

Trust

LIBOR

1

M

+

1.100%

4

.184

05/25/37

225,673‌

Series

-

2007

2

(Class

A2C)

3,534,080

g

GoodLeap

Sustainable

Home

Solutions

Trust

2

.100

05/20/48

2,889,579‌

Series

-

2021

3CS

(Class

A)

3,848,694

g

GoodLeap

Sustainable

Home

Solutions

Trust

1

.930

07/20/48

3,090,820‌

Series

-

2021

4GS

(Class

A)

13,907,585

g

GoodLeap

Sustainable

Home

Solutions

Trust

2

.310

10/20/48

11,558,175‌

Series

-

2021

5CS

(Class

A)

4,920,368

g

GoodLeap

Sustainable

Home

Solutions

Trust

2

.560

10/20/48

3,973,903‌

Series

-

2021

5CS

(Class

B)

4,906,190

g

GoodLeap

Sustainable

Home

Solutions

Trust

2

.700

01/20/49

4,133,333‌

Series

-

2022

1GS

(Class

A)

3,231,175

g

GoodLeap

Sustainable

Home

Solutions

Trust

2

.940

01/20/49

2,673,835‌

Series

-

2022

1GS

(Class

B)

15,295,457

g

GoodLeap

Sustainable

Home

Solutions

Trust

4

.950

07/20/49

14,647,513‌

Series

-

2022

3CS

(Class

A)

3,250,000

g

Grace

Trust

2

.347

12/10/40

2,505,909‌

Series

-

2020

GRCE

(Class

A)

7,789,000

g

GSCG

Trust

2

.936

09/06/34

7,263,904‌

Series

-

2019

600C

(Class

A)

655,721

g

HERO

Funding

Trust

3

.840

09/21/40

643,620‌

Series

-

2015

1A

(Class

A)

153,164

g

HERO

Funding

Trust

3

.990

09/21/40

141,847‌

Series

-

2014

2A

(Class

A)

769,658

g

HERO

Funding

Trust

3

.750

09/20/41

744,146‌

Series

-

2016

2A

(Class

A)

622,222

g

HERO

Funding

Trust

4

.050

09/20/41

601,708‌

Series

-

2016

1A

(Class

A)

1,542,203

g

HERO

Funding

Trust

3

.080

09/20/42

1,448,805‌

Series

-

2016

3A

(Class

A1)

1,391,390

g

HERO

Funding

Trust

3

.910

09/20/42

1,314,679‌

Series

-

2016

3A

(Class

A2)

1,423,779

g

HERO

Funding

Trust

3

.570

09/20/47

1,350,851‌

Series

-

2016

4A

(Class

A1)

1,429,559

g

HERO

Funding

Trust

3

.710

09/20/47

1,336,562‌

Series

-

2017

1A

(Class

A1)

210,930

g

HERO

Funding

Trust

4

.290

09/20/47

202,047‌

Series

-

2016

4A

(Class

A2)

2,400,546

g

HERO

Funding

Trust

3

.190

09/20/48

2,164,388‌

Series

-

2017

3A

(Class

A1)

2,246,340

g

HERO

Funding

Trust

3

.950

09/20/48

2,054,840‌

Series

-

2017

3A

(Class

A2)

911,700

g

HERO

Funding

Trust

4

.070

09/20/48

845,897‌

Series

-

2017

2A

(Class

A2)

3,283,450

g

HERO

Funding

Trust

4

.670

09/20/48

3,133,393‌

Series

-

2018

1A

(Class

A2)

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

246

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

2,395,469

g

HERO

Funding

Trust

2

.720

%

09/20/57

$

2,167,608‌

Series

-

2020

1A

(Class

A)

24,639

i

Home

Equity

Asset

Trust

LIBOR

1

M

+

1.500%

3

.986

06/25/33

24,216‌

Series

-

2003

1

(Class

M1)

839,880

g,i

Invitation

Homes

Trust

LIBOR

1

M

+

0.950%

3

.943

03/17/37

831,777‌

Series

-

2018

SFR1

(Class

B)

499,977

g,i

Invitation

Homes

Trust

LIBOR

1

M

+

1.250%

4

.243

01/17/38

490,118‌

Series

-

2018

SFR4

(Class

B)

3,894,647

g

Loanpal

Solar

Loan

Ltd

2

.750

07/20/47

3,222,764‌

Series

-

2020

2GF

(Class

A)

2,008,383

g

Loanpal

Solar

Loan

Ltd

2

.290

01/20/48

1,647,315‌

Series

-

2021

1GS

(Class

A)

2,721,299

g

Loanpal

Solar

Loan

Ltd

2

.840

01/20/48

2,233,737‌

Series

-

2021

1GS

(Class

B)

5,958,448

g

Loanpal

Solar

Loan

Ltd

2

.220

03/20/48

4,739,374‌

Series

-

2021

2GS

(Class

A)

2,588,951

†,g

Mosaic

Solar

Loan

Trust

0

.000

04/20/46

2,115,173‌

Series

-

2020

1A

(Class

R)

1,631,349

g

Mosaic

Solar

Loan

Trust

2

.100

04/20/46

1,406,216‌

Series

-

2020

1A

(Class

A)

2,072,615

g

Mosaic

Solar

Loan

Trust

3

.100

04/20/46

1,821,468‌

Series

-

2020

1A

(Class

B)

5,940,008

g

Mosaic

Solar

Loan

Trust

1

.920

06/20/52

4,809,263‌

Series

-

2021

3A

(Class

B)

2,130,069

g

Mosaic

Solar

Loans

LLC

3

.820

06/22/43

1,962,622‌

Series

-

2017

2A

(Class

A)

3,732,278

g

Mosaic

Solar

Loans

LLC

1

.640

04/22/47

3,059,755‌

Series

-

2021

2A

(Class

A)

290,000

g,i

MSCG

Trust

3

.577

06/07/35

233,783‌

Series

-

2015

ALDR

(Class

D)

247,030

g

MVW

Owner

Trust

2

.420

12/20/34

241,488‌

Series

-

2017

1A

(Class

A)

700,000

g

Progress

Residential

Trust

2

.711

11/17/40

560,044‌

Series

-

2021

SFR9

(Class

D)

4,000,000

PSNH

Funding

LLC

3

.506

08/01/28

3,849,983‌

Series

-

2018

1

(Class

A2)

751,717

g

Renew

3

.670

09/20/52

674,396‌

Series

-

2017

1A

(Class

A)

2,050,527

g

Renew

3

.950

09/20/53

1,869,782‌

Series

-

2018

1

(Class

A)

4,285,882

g

Renew

2

.060

11/20/56

3,638,086‌

Series

-

2021

1

(Class

A)

10,644,999

SCE

Recovery

Funding

LLC

0

.861

11/15/31

8,706,331‌

57,061

†,g

SolarCity

LMC

4

.800

11/20/38

54,687‌

Series

-

2013

1

(Class

A)

6,923,532

g

Sunnova

Helios

VII

Issuer

LLC

2

.030

10/20/48

5,861,375‌

Series

-

2021

C

(Class

A)

3,884,311

g

Sunnova

Helios

VIII

Issuer

LLC

2

.790

02/22/49

3,424,925‌

Series

-

2022

A

(Class

A)

5,259,630

g

Sunrun

Athena

Issuer

LLC

5

.310

04/30/49

4,919,557‌

Series

-

2018

1

(Class

A)

6,672,475

g

Sunrun

Atlas

Issuer

LLC

3

.610

02/01/55

5,906,518‌

Series

-

2019

2

(Class

A)

14,212,376

g

Sunrun

Callisto

Issuer

LLC

3

.980

06/30/54

12,917,537‌

Series

-

2019

1A

(Class

A)

5,864,807

g

Sunrun

Callisto

Issuer

LLC

2

.270

01/30/57

4,517,327‌

Series

-

2021

2A

(Class

A)

7,210,976

g

Sunrun

Jupiter

Issuer

LLC

4

.750

07/30/57

6,538,716‌

Series

-

2022

1A

(Class

A)

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

247

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

9,361,404

g

Sunrun

Vulcan

Issuer

LLC

2

.460

%

01/30/52

$

7,591,431‌

Series

-

2021

1A

(Class

A)

1,650,000

g

Tesla

Auto

Lease

Trust

5

.480

05/22/23

1,652,726‌

Series

-

2019

A

(Class

E)

1,000,000

g

Tesla

Auto

Lease

Trust

2

.330

02/20/24

980,791‌

Series

-

2020

A

(Class

D)

6,650,000

g

Tesla

Auto

Lease

Trust

0

.660

03/20/25

6,328,394‌

Series

-

2021

A

(Class

A4)

10,250,000

g

Tesla

Auto

Lease

Trust

1

.340

03/20/25

9,493,170‌

Series

-

2021

A

(Class

D)

4,500,000

g

Tesla

Auto

Lease

Trust

0

.600

09/22/25

4,218,463‌

Series

-

2021

B

(Class

A3)

7,000,000

g

Tesla

Auto

Lease

Trust

1

.320

09/22/25

6,392,677‌

Series

-

2021

B

(Class

D)

9,500,000

Toyota

Auto

Receivables

Owner

Trust

0

.260

11/17/25

9,101,756‌

Series

-

2021

B

(Class

A3)

9,900,000

Toyota

Auto

Receivables

Owner

Trust

0

.530

10/15/26

9,002,788‌

Series

-

2021

B

(Class

A4)

325,000

g

Tricon

American

Homes

Trust

2

.049

07/17/38

279,307‌

Series

-

2020

SFR1

(Class

B)

5,348,302

g

Vivint

Colar

Financing

V

LLC

4

.730

04/30/48

4,726,205‌

Series

-

2018

1A

(Class

A)

10,438,499

g

Vivint

Colar

Financing

V

LLC

7

.370

04/30/48

9,667,550‌

Series

-

2018

1A

(Class

B)

4,594,259

g

Vivint

Solar

Financing

VII

LLC

2

.210

07/31/51

3,725,407‌

Series

-

2020

1A

(Class

A)

TOTAL

ASSET

BACKED

280,464,986‌

OTHER

MORTGAGE

BACKED

-

8

.4

%

2,165,000

g,i

20

Times

Square

Trust

3

.203

05/15/35

2,109,716‌

Series

-

2018

20TS

(Class

B)

12,879

g,i

Agate

Bay

Mortgage

Trust

3

.500

09/25/45

11,733‌

Series

-

2015

6

(Class

A9)

4,075,000

g,i

Alen

Mortgage

Trust

LIBOR

1

M

+

2.250%

5

.068

04/15/34

3,802,708‌

Series

-

2021

ACEN

(Class

C)

1,900,000

g,i

Angel

Oak

Mortgage

Trust

2

.837

11/25/66

1,268,061‌

Series

-

2021

8

(Class

A3)

900,000

g,i

BAMLL

Commercial

Mortgage

Securities

Trust

3

.716

04/14/33

804,256‌

Series

-

2015

200P

(Class

D)

551,943

Banc

of

America

Commercial

Mortgage

Trust

3

.019

07/15/49

529,663‌

Series

-

2016

UB10

(Class

ASB)

5,000,000

g

BANK

2

.500

10/17/52

3,394,197‌

Series

-

2019

BN21

(Class

D)

6,500,000

i

BANK

3

.517

10/17/52

5,141,363‌

Series

-

2019

BN21

(Class

C)

2,000,000

BANK

3

.203

12/15/52

1,678,747‌

Series

-

2019

BN23

(Class

AS)

2,500,000

i

BANK

3

.016

12/15/53

1,804,663‌

Series

-

2020

BN30

(Class

MCDE)

8,000,000

i

BANK

3

.576

11/15/62

6,441,936‌

Series

-

2019

BN22

(Class

C)

5,750,000

g

BBCMS

Trust

3

.593

09/15/32

5,740,410‌

Series

-

2015

MSQ

(Class

A)

200,000

g

BBCMS

Trust

4

.197

08/10/35

185,443‌

Series

-

2015

SRCH

(Class

A2)

1,250,000

g

BBCMS

Trust

4

.798

08/10/35

1,096,095‌

Series

-

2015

SRCH

(Class

C)

3,000,000

g,i

BBCMS

Trust

3

.811

02/15/53

2,410,140‌

Series

-

2020

C6

(Class

F5TA)

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

248

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

1,000,000

Benchmark

Mortgage

Trust

3

.419

%

08/15/52

$

859,857‌

Series

-

2019

B12

(Class

AS)

5,500,000

g,i

Benchmark

Mortgage

Trust

4

.029

03/15/62

4,160,884‌

Series

-

2019

B10

(Class

3CCA)

5,200,000

g

BMO

360A

3

.776

02/15/42

4,283,249‌

Series

-

2022

C1

(Class

360A)

3,500,000

g,i

BMO

360C

4

.070

02/15/42

2,561,982‌

Series

-

2022

C1

(Class

360C)

825,000

g

BWAY

Mortgage

Trust

2

.917

01/10/35

743,187‌

Series

-

2015

1740

(Class

A)

2,077,421

g,i

BX

Commercial

Mortgage

Trust

LIBOR

1

M

+

0.920%

3

.738

10/15/36

2,047,735‌

Series

-

2019

XL

(Class

A)

4,250,000

g,i

BX

Commercial

Mortgage

Trust

LIBOR

1

M

+

1.250%

4

.068

10/15/36

4,127,191‌

Series

-

2019

XL

(Class

C)

10,478,111

g,i

BX

Commercial

Mortgage

Trust

LIBOR

1

M

+

1.197%

4

.015

10/15/38

9,898,622‌

Series

-

2021

XL2

(Class

C)

12,000,000

g,i

BX

Commercial

Mortgage

Trust

4

.685

01/17/39

11,539,734‌

Series

-

2022

AHP

(Class

B)

2,901,500

g,i

CCRC

Affordable

Multifamily

Housing

Mortgage

Trust

5

.703

06/25/34

2,690,553‌

Series

-

2017

Q005

(Class

B)

2,000,000

i

CD

Mortgage

Trust

3

.879

11/10/49

1,787,785‌

Series

-

2016

CD2

(Class

B)

1,000,000

g,i

Century

Plaza

Towers

3

.097

11/13/39

777,096‌

Series

-

2019

CPT

(Class

B)

5,000,000

i

Citigroup

Commercial

Mortgage

Trust

3

.758

04/10/48

4,662,061‌

Series

-

2015

GC29

(Class

B)

4,000,000

Citigroup

Commercial

Mortgage

Trust

3

.300

11/10/52

3,395,406‌

Series

-

2019

GC43

(Class

AS)

5,000,000

Citigroup

Commercial

Mortgage

Trust

3

.018

08/10/56

4,196,997‌

Series

-

2019

GC41

(Class

AS)

5,341,000

g,i

Cityline

Commercial

Mortgage

Trust

2

.871

11/10/31

5,145,494‌

Series

-

2016

CLNE

(Class

A)

3,315,000

g

COMM

Mortgage

Trust

4

.353

08/10/30

3,265,988‌

Series

-

2013

300P

(Class

A1)

4,375,000

g

COMM

Mortgage

Trust

3

.376

01/10/39

3,741,273‌

Series

-

2022

HC

(Class

C)

2,000,000

COMM

Mortgage

Trust

4

.701

03/10/47

1,948,735‌

Series

-

2014

UBS2

(Class

B)

2,000,000

i

COMM

Mortgage

Trust

4

.703

08/10/47

1,928,595‌

Series

-

2014

CR19

(Class

B)

2,158,000

g,i

COMM

Mortgage

Trust

4

.854

08/10/47

1,970,330‌

Series

-

2014

CR19

(Class

D)

328,050

COMM

Mortgage

Trust

3

.040

02/10/48

320,406‌

Series

-

2015

LC19

(Class

ASB)

3,500,000

g,i

COMM

Mortgage

Trust

4

.207

03/10/48

3,075,923‌

Series

-

2015

CR22

(Class

D)

2,000,000

i

COMM

Mortgage

Trust

4

.428

05/10/48

1,706,702‌

Series

-

2015

CR23

(Class

D)

360,000

i

COMM

Mortgage

Trust

3

.463

08/10/48

302,638‌

Series

-

2015

CR24

(Class

D)

2,250,000

COMM

Mortgage

Trust

3

.263

08/15/57

1,900,881‌

Series

-

2019

GC44

(Class

AM)

6,000,000

g,i

Commercial

Mortgage

Pass

Through

Certificates

3

.896

01/10/39

5,087,833‌

Series

-

2022

HC

(Class

D)

565,000

g,i

Connecticut

Avenue

Securities

Trust

3

.831

10/25/41

537,459‌

Series

-

2021

R01

(Class

1M2)

1,870,000

g,i

Connecticut

Avenue

Securities

Trust

5

.581

11/25/41

1,694,807‌

Series

-

2021

R02

(Class

2B1)

11,725,000

g,i

Connecticut

Avenue

Securities

Trust

5

.781

03/25/42

11,172,872‌

Series

-

2022

R03

(Class

1M2)

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

249

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

2,405,000

g,i

Connecticut

Avenue

Securities

Trust

5

.281

%

04/25/42

$

2,225,146‌

Series

-

2022

R05

(Class

2M2)

2,000,000

g,i

Connecticut

Avenue

Securities

Trust

6

.014

04/25/42

1,900,242‌

Series

-

2022

R05

(Class

2B1)

3,990,000

g,i

Connecticut

Avenue

Securities

Trust

SOFR

+

3.600%

5

.905

07/25/42

3,788,234‌

Series

-

2022

R08

(Class

1M2)

73,927

i

Countrywide

Home

Loan

Mortgage

Pass

Through

Trust

3

.303

11/20/34

70,528‌

Series

-

2004

HYB6

(Class

A2)

14,000,000

g

CPT

Mortgage

Trust

2

.865

11/13/39

11,440,930‌

Series

-

2019

CPT

(Class

A)

2,000,000

g,i

CPT

Mortgage

Trust

3

.097

11/13/39

1,414,429‌

Series

-

2019

CPT

(Class

E)

2,500,000

g,i

CPT

Mortgage

Trust

3

.097

11/13/39

1,897,245‌

Series

-

2019

CPT

(Class

C)

5,000,000

g,i

Credit

Suisse

Commercial

Mortgage

Trust

3

.854

11/10/32

4,646,849‌

Series

-

2017

CALI

(Class

B)

3,127,765

g,i

Credit

Suisse

Mortgage

Capital

Certificates

2

.405

10/25/66

2,631,126‌

Series

-

2021

NQM8

(Class

A3)

3,600,000

g,i

CSAIL

Commercial

Mortgage

Trust

3

.800

06/15/37

2,999,986‌

Series

-

2017

C8

(Class

85BB)

1,600,000

g,i

CSMC

Series

3

.388

10/25/59

1,399,343‌

Series

-

2019

NQM1

(Class

M1)

3,440,000

g,i

DBUBS

Mortgage

Trust

3

.648

10/10/34

3,127,815‌

Series

-

2017

BRBK

(Class

D)

102,725,000

g,i

DOLP

Trust

0

.665

05/10/41

4,236,456‌

Series

-

2021

NYC

(Class

X)

12,500,000

g,i

ELP

Commercial

Mortgage

Trust

LIBOR

1

M

+

1.320%

4

.138

11/15/38

11,840,871‌

Series

-

2021

ELP

(Class

C)

7,500,000

g,i

ELP

Commercial

Mortgage

Trust

LIBOR

1

M

+

2.118%

4

.936

11/15/38

7,016,816‌

Series

-

2021

ELP

(Class

E)

267,439

g,i

Flagstar

Mortgage

Trust

4

.044

10/25/47

241,287‌

Series

-

2017

2

(Class

B3)

14,524

g,i

Flagstar

Mortgage

Trust

4

.000

09/25/48

13,880‌

Series

-

2018

5

(Class

A11)

1,272,780

g,i

Flagstar

Mortgage

Trust

2

.500

04/25/51

1,004,220‌

Series

-

2021

2

(Class

A4)

3,958,385

g,i

Flagstar

Mortgage

Trust

2

.500

06/01/51

3,123,155‌

Series

-

2021

4

(Class

A21)

12,626,795

g,i

Flagstar

Mortgage

Trust

3

.000

10/25/51

10,476,417‌

Series

-

2021

10IN

(Class

A1)

7,200,000

Freddie

Mac

Multiclass

Certificates

Series

1

.878

01/25/31

5,953,164‌

Series

-

2021

P009

(Class

A2)

2,454,004

Freddie

Mac

Multiclass

Certificates

Series

1

.204

09/25/31

2,124,730‌

Series

-

2021

P011

(Class

A1)

7,324,000

i

Freddie

Mac

Multiclass

Certificates

Series

2

.852

02/25/32

6,404,835‌

Series

-

2022

P013

(Class

A2)

6,732,208

Freddie

Mac

Multifamily

ML

Certificates

1

.877

07/25/37

5,131,371‌

Series

-

2021

ML08

(Class

ML08)

39,851,996

i

Freddie

Mac

Multifamily

ML

Certificates

1

.779

11/25/37

5,368,462‌

Series

-

2021

ML08

(Class

XCA)

3,185,729

Freddie

Mac

Multifamily

ML

Certificates

1

.896

11/25/37

2,434,692‌

Series

-

2021

ML08

(Class

ML08)

9,930,211

Freddie

Mac

Multifamily

ML

Certificates

2

.340

07/25/41

7,883,763‌

Series

-

2021

ML12

(Class

AUS)

4,000,547

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1

.555

01/25/36

3,229,495‌

Series

-

2020

Q014

(Class

A1)

9,941,104

Freddie

Mac

Multifamily

Variable

Rate

Certificate

3

.150

10/15/36

8,573,751‌

Series

-

2022

M068

(Class

A)

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

250

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

1,750,000

Freddie

Mac

Multifamily

Variable

Rate

Certificate

4

.013

%

04/15/37

$

1,657,460‌

Series

-

2022

M069

(Class

A)

6,088,632

Freddie

Mac

Multifamily

Variable

Rate

Certificate

1

.761

09/15/38

4,860,401‌

Series

-

2020

M061

(Class

A)

2,590,000

g,i

Freddie

Mac

STACR

REMIC

Trust

4

.781

01/25/42

2,268,579‌

Series

-

2022

DNA1

(Class

M2)

5,490,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.181

04/25/42

5,194,685‌

Series

-

2022

DNA3

(Class

M1B)

2,500,000

g,i

GCT

Commercial

Mortgage

Trust

LIBOR

1

M

+

1.250%

4

.068

02/15/38

2,405,579‌

Series

-

2021

GCT

(Class

B)

2,188,000

g,i

GS

Mortgage

Securities

Corp

II

5

.067

03/10/33

2,001,527‌

Series

-

2018

GS10

(Class

WLSB)

1,500,000

g,i

GS

Mortgage

Securities

Trust

LIBOR

1

M

+

1.090%

3

.910

10/15/31

1,485,039‌

Series

-

2018

HART

(Class

A)

93,000

i

GS

Mortgage

Securities

Trust

4

.079

11/10/49

80,121‌

Series

-

2016

GS4

(Class

C)

88,404

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

4

.000

11/25/49

84,303‌

Series

-

2019

PJ2

(Class

A4)

33,788

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

4

.000

11/25/49

32,220‌

Series

-

2019

PJ2

(Class

A1)

1,108,798

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3

.500

07/25/50

970,607‌

Series

-

2020

PJ2

(Class

A4)

455,725

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3

.000

01/25/51

385,108‌

Series

-

2020

PJ4

(Class

A4)

350,237

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3

.000

03/27/51

292,308‌

Series

-

2020

PJ5

(Class

A4)

898,720

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

2

.500

05/25/51

710,341‌

Series

-

2020

PJ6

(Class

A4)

2,492,574

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

2

.500

10/25/51

1,966,634‌

Series

-

2021

PJ5

(Class

A4)

5,068,138

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3

.000

06/25/52

4,097,348‌

Series

-

2022

PJ2

(Class

A36)

2,122,457

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3

.000

09/25/52

1,715,905‌

Series

-

2022

PJ4

(Class

A36)

489,249

g,i

GS

Mortgage-Backed

Securities

Trust

3

.654

05/25/50

393,307‌

Series

-

2020

PJ1

(Class

B2)

1,053,362

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

07/25/51

819,296‌

Series

-

2021

PJ2

(Class

A4)

7,499,681

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

11/25/51

5,900,418‌

Series

-

2021

PJ6

(Class

A4)

9,496,834

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

01/25/52

7,492,976‌

Series

-

2021

PJ7

(Class

A4)

4,454,741

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

01/25/52

3,514,778‌

Series

-

2021

PJ8

(Class

A4)

4,589,799

g,i

GS

Mortgage-Backed

Securities

Trust

3

.000

10/25/52

3,693,717‌

Series

-

2022

PJ5

(Class

A36)

231,234

i

HarborView

Mortgage

Loan

Trust

LIBOR

1

M

+

0.620%

3

.613

08/19/45

212,841‌

Series

-

2005

11

(Class

2A1A)

3,500,000

g

Hudson

Yards

Mortgage

Trust

2

.835

08/10/38

3,145,209‌

Series

-

2016

10HY

(Class

A)

5,750,000

g,i

Hudson

Yards

Mortgage

Trust

3

.076

08/10/38

4,971,015‌

Series

-

2016

10HY

(Class

C)

2,500,000

g,i

Hudson

Yards

Mortgage

Trust

3

.076

08/10/38

2,202,479‌

Series

-

2016

10HY

(Class

B)

2,500,000

g,i

Hudson

Yards

Mortgage

Trust

3

.076

08/10/38

2,113,822‌

Series

-

2016

10HY

(Class

E)

11,650,000

g,i

Hudson

Yards

Mortgage

Trust

3

.558

07/10/39

9,211,634‌

Series

-

2019

30HY

(Class

D)

5,545,000

g,i

Hudson

Yards

Mortgage

Trust

3

.041

12/10/41

4,665,024‌

Series

-

2019

55HY

(Class

A)

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

251

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

1,500,000

g,i

Hudson

Yards

Mortgage

Trust

3

.041

%

12/10/41

$

1,148,569‌

Series

-

2019

55HY

(Class

D)

5,000,000

g,i

Hudson

Yards

Mortgage

Trust

3

.041

12/10/41

3,693,800‌

Series

-

2019

55HY

(Class

E)

11,334

i

Impac

CMB

Trust

LIBOR

1

M

+

0.660%

3

.744

03/25/35

10,744‌

Series

-

2004

11

(Class

2A1)

440,000

g,i

Imperial

Fund

Mortgage

Trust

3

.531

10/25/55

381,181‌

Series

-

2020

NQM1

(Class

M1)

4,000,000

g,i

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

1.370%

4

.188

10/15/33

3,846,809‌

Series

-

2020

609M

(Class

A)

1,600,000

g,i

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

4

.212

01/15/46

1,542,394‌

Series

-

2013

C13

(Class

D)

1,751,816

g,i

JP

Morgan

Mortgage

Trust

LIBOR

1

M

-

0.000%

3

.413

12/25/44

1,702,919‌

Series

-

2015

1

(Class

B1)

13,576

g,i

JP

Morgan

Mortgage

Trust

3

.500

05/25/45

12,378‌

Series

-

2015

3

(Class

A19)

234,546

g,i

JP

Morgan

Mortgage

Trust

3

.500

10/25/45

207,704‌

Series

-

2015

6

(Class

A13)

162,134

g,i

JP

Morgan

Mortgage

Trust

3

.500

05/25/46

146,416‌

Series

-

2016

1

(Class

A13)

63,057

g,i

JP

Morgan

Mortgage

Trust

3

.500

05/25/47

56,188‌

Series

-

2017

2

(Class

A13)

432,173

g,i

JP

Morgan

Mortgage

Trust

3

.500

09/25/48

375,765‌

Series

-

2018

3

(Class

A13)

232,216

g,i

JP

Morgan

Mortgage

Trust

3

.500

10/25/48

203,422‌

Series

-

2018

4

(Class

A13)

1,197,786

g,i

JP

Morgan

Mortgage

Trust

3

.500

10/25/48

1,043,377‌

Series

-

2018

5

(Class

A13)

785,730

g,i

JP

Morgan

Mortgage

Trust

3

.124

10/26/48

751,799‌

Series

-

2017

5

(Class

A2)

51,173

g,i

JP

Morgan

Mortgage

Trust

4

.000

01/25/49

47,828‌

Series

-

2018

8

(Class

A13)

84,001

g,i

JP

Morgan

Mortgage

Trust

4

.000

02/25/49

78,388‌

Series

-

2018

9

(Class

A13)

74,620

g,i

JP

Morgan

Mortgage

Trust

4

.000

05/25/49

70,607‌

Series

-

2019

1

(Class

A3)

120,006

g,i

JP

Morgan

Mortgage

Trust

4

.000

05/25/49

113,551‌

Series

-

2019

1

(Class

A15)

430,846

g,i

JP

Morgan

Mortgage

Trust

LIBOR

1

M

+

0.950%

4

.034

10/25/49

425,763‌

Series

-

2019

INV1

(Class

A11)

859,305

g,i

JP

Morgan

Mortgage

Trust

3

.836

06/25/50

698,476‌

Series

-

2020

1

(Class

B2)

4,004,264

g,i

JP

Morgan

Mortgage

Trust

2

.500

10/25/51

3,133,427‌

Series

-

2021

6

(Class

A15)

2,090,530

g,i

JP

Morgan

Mortgage

Trust

2

.500

11/25/51

1,635,887‌

Series

-

2021

7

(Class

A15)

2,652,721

g,i

JP

Morgan

Mortgage

Trust

2

.500

12/25/51

2,092,989‌

Series

-

2021

8

(Class

A15)

1,077,211

g,i

JP

Morgan

Mortgage

Trust

2

.500

12/25/51

847,234‌

Series

-

2021

10

(Class

A15)

3,690,283

g,i

JP

Morgan

Mortgage

Trust

2

.500

01/25/52

2,911,623‌

Series

-

2021

11

(Class

A15)

1,032,734

g,i

JP

Morgan

Mortgage

Trust

2

.500

02/25/52

814,824‌

Series

-

2021

12

(Class

A15)

1,744,095

g,i

JP

Morgan

Mortgage

Trust

2

.500

05/25/52

1,376,086‌

Series

-

2021

14

(Class

A15)

5,471,735

g,i

JP

Morgan

Mortgage

Trust

2

.500

06/25/52

4,317,184‌

Series

-

2021

15

(Class

A15)

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

252

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

2,053,544

g,i

JP

Morgan

Mortgage

Trust

3

.000

%

08/25/52

$

1,660,192‌

Series

-

2022

2

(Class

A25)

5,861,991

g,i

JP

Morgan

Mortgage

Trust

3

.500

09/25/52

5,101,806‌

Series

-

2022

LTV2

(Class

A6)

2,400,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

4

.632

09/15/47

2,250,374‌

Series

-

2014

C23

(Class

C)

719,752

g

Ladder

Capital

Commercial

Mortgage

Securities

3

.575

02/15/36

669,584‌

Series

-

2013

GCP

(Class

A1)

10,000,000

g

Liberty

Street

Trust

3

.597

02/10/36

9,160,731‌

Series

-

2016

225L

(Class

A)

4,000,000

g,i

MAD

Mortgage

Trust

3

.294

08/15/34

3,768,366‌

Series

-

2017

330M

(Class

A)

2,350,000

g,i

Manhattan

West

2

.413

09/10/39

1,859,842‌

Series

-

2020

1MW

(Class

D)

2,250,000

g,i

MFT

Trust

3

.392

08/10/40

1,671,535‌

Series

-

2020

B6

(Class

B)

288,349

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.069

02/15/48

282,163‌

Series

-

2015

C20

(Class

ASB)

425,000

g,i

Morgan

Stanley

Capital

I

Trust

LIBOR

1

M

+

0.700%

3

.518

11/15/34

422,493‌

Series

-

2017

CLS

(Class

A)

3,300,000

g,i

Morgan

Stanley

Capital

I

Trust

2

.509

04/05/42

2,574,391‌

Series

-

2020

CNP

(Class

A)

106,067

†,i

Morgan

Stanley

Capital

I

Trust

6

.282

12/12/49

53,431‌

Series

-

2007

IQ16

(Class

AJFX)

1,192,519

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2

.500

07/25/51

1,022,515‌

Series

-

2021

4

(Class

A4)

3,614,892

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2

.500

08/25/51

2,852,140‌

Series

-

2021

5

(Class

A9)

3,660,188

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2

.500

09/25/51

3,162,093‌

Series

-

2021

6

(Class

A4)

2,327,621

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2

.500

09/25/51

1,836,486‌

Series

-

2021

6

(Class

A9)

1,500,000

g,i

MSDB

Trust

3

.427

07/11/39

1,323,699‌

Series

-

2017

712F

(Class

A)

3,450,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

3

.917

11/15/32

3,435,491‌

Series

-

2018

285M

(Class

A)

4,250,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

2.200%

5

.018

07/15/36

4,145,180‌

Series

-

2019

MILE

(Class

C)

4,000,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

4.250%

7

.068

07/15/36

3,782,780‌

Series

-

2019

MILE

(Class

F)

450,650

g,i

New

Residential

Mortgage

Loan

Trust

2

.797

09/25/59

413,071‌

Series

-

2019

NQM4

(Class

A3)

425,000

g,i

New

Residential

Mortgage

Loan

Trust

2

.986

09/25/59

355,983‌

Series

-

2019

NQM4

(Class

M1)

58,465

i

New

York

Mortgage

Trust

LIBOR

1

M

+

0.480%

3

.564

02/25/36

57,424‌

Series

-

2005

3

(Class

A1)

4,800,184

g,i

OBX

Trust

2

.500

07/25/51

3,787,332‌

Series

-

2021

J2

(Class

A19)

283,760

g,i

OBX

Trust

LIBOR

1

M

+

0.650%

3

.734

06/25/57

275,715‌

Series

-

2018

1

(Class

A2)

1,373,364

g,i

Oceanview

Mortgage

Trust

2

.500

05/25/51

1,083,580‌

Series

-

2021

1

(Class

A19)

14,500,000

g

One

Bryant

Park

Trust

2

.516

09/15/54

11,942,983‌

Series

-

2019

OBP

(Class

A)

2,750,000

g

One

Market

Plaza

Trust

3

.614

02/10/32

2,660,471‌

Series

-

2017

1MKT

(Class

A)

1,000,000

g

One

Market

Plaza

Trust

3

.845

02/10/32

958,527‌

Series

-

2017

1MKT

(Class

B)

4,000,000

g

One

Market

Plaza

Trust

4

.016

02/10/32

3,822,660‌

Series

-

2017

1MKT

(Class

C)

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

253

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

4,127,338

g,i

RCKT

Mortgage

Trust

2

.500

%

09/25/51

$

3,256,458‌

Series

-

2021

4

(Class

A21)

6,595,794

g,i

RCKT

Mortgage

Trust

2

.500

02/25/52

5,204,063‌

Series

-

2022

2

(Class

A22)

4,734,701

g,i

RCKT

Mortgage

Trust

3

.500

06/25/52

3,955,634‌

Series

-

2022

4

(Class

A22)

194,792

g,i

Sequoia

Mortgage

Trust

3

.500

05/25/45

172,897‌

Series

-

2015

2

(Class

A1)

53,208

g,i

Sequoia

Mortgage

Trust

3

.500

06/25/46

48,035‌

Series

-

2016

1

(Class

A19)

148,926

g,i

Sequoia

Mortgage

Trust

3

.500

04/25/47

131,131‌

Series

-

2017

3

(Class

A19)

20,071

g,i

Sequoia

Mortgage

Trust

3

.500

09/25/47

18,117‌

Series

-

2017

6

(Class

A19)

217,542

g,i

Sequoia

Mortgage

Trust

3

.719

09/25/47

188,469‌

Series

-

2017

6

(Class

B1)

31,311

g,i

Sequoia

Mortgage

Trust

3

.500

02/25/48

28,180‌

Series

-

2018

2

(Class

A19)

13,852

g,i

Sequoia

Mortgage

Trust

3

.500

03/25/48

12,529‌

Series

-

2018

3

(Class

A1)

22,277

g,i

Sequoia

Mortgage

Trust

4

.000

09/25/48

21,059‌

Series

-

2018

7

(Class

A19)

39,954

g,i

Sequoia

Mortgage

Trust

4

.000

06/25/49

38,528‌

Series

-

2019

2

(Class

A19)

181,146

g,i

Sequoia

Mortgage

Trust

3

.500

12/25/49

160,935‌

Series

-

2019

5

(Class

A19)

1,592,850

g,i

Sequoia

Mortgage

Trust

3

.000

04/25/50

1,287,743‌

Series

-

2020

3

(Class

A19)

2,452,658

g,i

Sequoia

Mortgage

Trust

2

.500

06/25/51

1,935,140‌

Series

-

2021

4

(Class

A19)

380,735

g,i

Shellpoint

Co-Originator

Trust

3

.500

10/25/47

343,609‌

Series

-

2017

2

(Class

A1)

12,900,000

g

SLG

Office

Trust

2

.585

07/15/41

10,368,425‌

Series

-

2021

OVA

(Class

A)

2,745,000

g,i

Structured

Agency

Credit

Risk

Debt

Note

(STACR)

4

.381

10/25/33

2,618,748‌

Series

-

2021

DNA3

(Class

M2)

66,739

g,i

STACR

3

.763

02/25/48

64,020‌

Series

-

2018

SPI1

(Class

M2)

1,125,000

g,i

STWD

Mortgage

Trust

LIBOR

1

M

+

1.257%

4

.075

11/15/36

1,073,242‌

Series

-

2021

LIH

(Class

AS)

2,000,000

g,i

STWD

Mortgage

Trust

LIBOR

1

M

+

1.656%

4

.474

11/15/36

1,895,711‌

Series

-

2021

LIH

(Class

B)

2,050,000

g,i

STWD

Mortgage

Trust

LIBOR

1

M

+

1.955%

4

.773

11/15/36

1,929,718‌

Series

-

2021

LIH

(Class

C)

4,000,000

g

SUMIT

Mortgage

Trust

2

.789

02/12/41

3,349,144‌

Series

-

2022

BVUE

(Class

A)

925,000

g,i

Verus

Securitization

Trust

3

.207

11/25/59

849,272‌

Series

-

2019

4

(Class

M1)

520,749

g

Verus

Securitization

Trust

1

.733

05/25/65

474,770‌

Series

-

2020

5

(Class

A3)

3,385,041

g,i

Verus

Securitization

Trust

2

.240

10/25/66

2,796,937‌

Series

-

2021

7

(Class

A3)

2,711,000

g

VNDO

Trust

3

.805

01/10/35

2,451,741‌

Series

-

2016

350P

(Class

A)

3,000,000

g,i

VNDO

Trust

4

.033

01/10/35

2,696,250‌

Series

-

2016

350P

(Class

B)

569,255

Wells

Fargo

Commercial

Mortgage

Trust

2

.514

08/15/49

543,159‌

Series

-

2016

BNK1

(Class

ASB)

513,382

Wells

Fargo

Commercial

Mortgage

Trust

3

.185

03/15/59

495,973‌

Series

-

2016

C33

(Class

ASB)

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

254

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

28,344

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

4

.000

%

04/25/49

$

27,366‌

Series

-

2019

2

(Class

A17)

319,645

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3

.000

07/25/50

262,397‌

Series

-

2020

4

(Class

A17)

5,950,070

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

2

.500

06/25/51

4,694,588‌

Series

-

2021

2

(Class

A17)

1,519,673

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

2

.500

12/25/51

1,199,018‌

Series

-

2022

2

(Class

A18)

943,000

WFRBS

Commercial

Mortgage

Trust

3

.311

03/15/45

938,325‌

Series

-

2013

C11

(Class

AS)

650,000

i

WFRBS

Commercial

Mortgage

Trust

5

.029

12/15/46

609,445‌

Series

-

2013

C18

(Class

C)

139,012

g,i

WinWater

Mortgage

Loan

Trust

3

.926

06/20/44

117,876‌

Series

-

2014

1

(Class

B4)

3,110,255

g,i

Woodward

Capital

Management

3

.000

05/25/52

2,503,030‌

Series

-

2022

3

(Class

A21)

TOTAL

OTHER

MORTGAGE

BACKED

507,937,377‌

TOTAL

STRUCTURED

ASSETS

788,402,363‌

(Cost

$910,650,892)

TOTAL

BONDS

5,851,818,076‌

(Cost

$6,728,922,622)

SHARES

COMPANY

REFERENCERATE

&

SPREAD

PREFERRED

STOCKS

-

0.8%

BANKS

-

0

.1

%

317,240

First

Republic

Bank

5,656,389‌

TOTAL

BANKS

5,656,389‌

DIVERSIFIED

FINANCIALS

-

0

.2

%

400,000

e

Morgan

Stanley

10,056,000‌

TOTAL

DIVERSIFIED

FINANCIALS

10,056,000‌

REAL

ESTATE

-

0

.3

%

400,000

Brookfield

Property

Partners

LP

7,392,000‌

695,000

Brookfield

Property

Partners

LP

11,815,000‌

TOTAL

REAL

ESTATE

19,207,000‌

UTILITIES

-

0

.2

%

490,000

Brookfield

Infrastructure

Partners

LP

8,227,100‌

308,000

Brookfield

Renewable

Partners

LP

6,039,880‌

TOTAL

UTILITIES

14,266,980‌

TOTAL

PREFERRED

STOCKS

49,186,369‌

(Cost

$65,256,000)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

3.7%

GOVERNMENT

AGENCY

DEBT

-

0

.3

%

$

10,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

11/07/22

9,969,423‌

10,000,000

FHLB

0

.000

12/28/22

9,918,843‌

TOTAL

GOVERNMENT

AGENCY

DEBT

19,888,266‌

Portfolio

of

investments

(unaudited)

Core

Impact

Bond

Fund

September

30,

2022

255

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

concluded

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted. 

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REPURCHASE

AGREEMENT

-

0

.3

%

$

16,760,000

r

Fixed

Income

Clearing

Corp

(FICC)

2

.950

%

10/03/22

$

16,760,000‌

TOTAL

REPURCHASE

AGREEMENT

16,760,000‌

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

3

.1

%

185,730,513

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3

.070

185,730,513‌

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

185,730,513‌

TOTAL

SHORT-TERM

INVESTMENTS

222,378,779‌

(Cost

$222,416,980)

TOTAL

INVESTMENTS

-

102.5%

6,161,078,416‌

(Cost

$7,055,502,204)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(2.5)%

(

148,893,949‌

)

NET

ASSETS

-

100.0%

$

6,012,184,467‌

CLP

Chilean

Peso

CCRC

Congregate

Care

Retirement

Center

EUR

Euro

LIBOR

London

Interbank

Offered

Rate

M

Month

REMIC

Real

Estate

Mortgage

Investment

Conduit

SOFR

Secure

Overnight

Financing

Rate

†

Security

is

categorized

as

Level

3

in

the

fair

value

hierarchy.

‡

Perpetual

security

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

$185,233,600.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

h

All

or

a

portion

of

these

securities

were

purchased

on

a

delayed

delivery

basis.

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

j

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

collateral

requirements

on

mortgage

dollar

rolls.

k

Principal

amount

for

interest

accrual

purposes

is

periodically

adjusted

based

on

changes

in

the

Consumer

Price

Index.

q

In

default

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.950%

dated

9/30/22

to

be

repurchased

at

$16,760,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rates

0.375%–0.500%

and

maturity

dates

1/31/26–2/28/26,

valued

at

$17,095,222.

Core

Plus

Bond

Fund

September

30,

2022

Portfolio

of

investments

(unaudited)

256

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANK

LOAN

OBLIGATIONS

-

1.6%

AUTOMOBILES

&

COMPONENTS

-

0

.1

%

$

784,418

i

Clarios

Global

LP

LIBOR

12

M

+

3.250%

6

.365

%

04/30/26

$

744,381‌

969,987

i

Gates

Global

LLC

LIBOR

12

M

+

2.500%

5

.615

03/31/27

933,748‌

TOTAL

AUTOMOBILES

&

COMPONENTS

1,678,129‌

CAPITAL

GOODS

-

0

.1

%

354,113

i

Clydesdale

Acquisition

Holdings,

Inc

SOFR

12M

+

4.175%

7

.309

04/13/29

335,031‌

263,288

i

Penn

Engineering

&

Manufacturing

Corp

LIBOR

4

M

+

2.750%

6

.424

06/27/24

256,047‌

3,054

i

Proampac

PG

Borrower

LLC

LIBOR

4

M

+

3.750%

6

.532

11/03/25

2,876‌

393,182

i

SRAM

LLC

LIBOR

4

M

+

2.750%

5

.556

05/18/28

372,540‌

743,484

i

TransDigm,

Inc

LIBOR

4

M

+

2.250%

5

.924

12/09/25

714,138‌

TOTAL

CAPITAL

GOODS

1,680,632‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.1

%

488,750

i

Amentum

Government

Services

Holdings

LLC

LIBOR

4

M

+

4.000%

8

.170

01/29/27

468,386‌

548,625

i

Amentum

Government

Services

Holdings

LLC

SOFR

4M

+

4.000%

7

.206

02/15/29

525,308‌

900,249

i

Clean

Harbors,

Inc

LIBOR

12

M

+

1.750%

4

.865

06/28/24

899,011‌

499,880

i

GFL

Environmental,

Inc

LIBOR

4

M

+

3.000%

5

.806

05/30/25

495,414‌

1,492,126

i

Intrado

Corp

LIBOR

12

M

+

4.000%

7

.115

10/10/24

1,287,317‌

1,132,493

i

Prime

Security

Services

Borrower

LLC

LIBOR

12

M

+

2.750%

5

.303

09/23/26

1,099,493‌

447,056

i

Spin

Holdco,

Inc

LIBOR

4

M

+

4.000%

7

.144

03/04/28

393,968‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

5,168,897‌

CONSUMER

DURABLES

&

APPAREL

-

0

.0

%

992,500

i

Conair

Holdings

LLC

LIBOR

4

M

+

3.750%

6

.000

05/17/28

841,764‌

847,875

i

Crocs,

Inc

SOFR

12M

+

3.500%

6

.784

02/20/29

800,712‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

1,642,476‌

CONSUMER

SERVICES

-

0

.2

%

292,515

i

AlixPartners

LLP

LIBOR

12

M

+

2.750%

5

.865

02/04/28

281,676‌

201,800

i

Caesars

Resort

Collection

LLC

LIBOR

12

M

+

3.500%

6

.615

07/21/25

199,307‌

440,543

i

Carnival

Corp

LIBOR

4

M

+

3.250%

6

.127

10/18/28

388,779‌

210,000

h,i

Element

Materials

Technology

Group

US

Holdings,

Inc

SOFR

3M

+

4.250%

0

.000

04/12/29

198,188‌

455,000

h,i

Element

Materials

Technology

Group

US

Holdings,

Inc

SOFR

1M

+

4.250%

6

.360

04/12/29

429,406‌

972,542

i

Fertitta

Entertainment

LLC

SOFR

1M

+

4.000%

6

.455

01/27/29

904,970‌

480,057

i

IRB

Holding

Corp

SOFR

12M

+

3.000%

5

.696

12/15/27

450,954‌

734,575

i

KFC

Holding

Co

LIBOR

12

M

+

1.750%

4

.743

03/15/28

728,456‌

643,824

i

Life

Time,

Inc

LIBOR

4

M

+

4.750%

7

.820

12/16/24

637,588‌

309,724

i

Penn

National

Gaming,

Inc

SOFR

12M

+

2.750%

5

.884

05/03/29

298,496‌

1,481,278

i

Sophia

LP

LIBOR

4

M

+

3.500%

7

.174

10/07/27

1,427,582‌

595,670

i

Sterling

Midco

Holdings,

Inc

LIBOR

4

M

+

3.500%

6

.570

06/19/24

589,344‌

TOTAL

CONSUMER

SERVICES

6,534,746‌

DIVERSIFIED

FINANCIALS

-

0

.0

%

364,379

i

Lions

Gate

Capital

Holdings

LLC

LIBOR

12

M

+

2.250%

5

.365

03/24/25

352,537‌

370,045

i

Reynolds

Group

Holdings,

Inc

LIBOR

12

M

+

3.250%

6

.365

02/05/26

355,110‌

TOTAL

DIVERSIFIED

FINANCIALS

707,647‌

ENERGY

-

0

.0

%

633,750

i

Delek

US

Holdings,

Inc

LIBOR

12

M

+

5.500%

8

.615

03/31/25

631,640‌

193,674

i

DT

Midstream,

Inc

LIBOR

12

M

+

2.000%

5

.125

06/26/28

194,071‌

TOTAL

ENERGY

825,711‌

FOOD,

BEVERAGE

&

TOBACCO

-

0

.0

%

586,501

i

Froneri

US,

Inc

LIBOR

12

M

+

2.250%

5

.365

01/29/27

555,050‌

1,068

i

Hearthside

Food

Solutions

LLC

LIBOR

4

M

+

3.688%

6

.211

05/23/25

842‌

361,235

i

Triton

Water

Holdings,

Inc

LIBOR

4

M

+

3.500%

7

.174

03/31/28

325,964‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

881,856‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

257

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0

.1

%

$

204,178

i

Change

Healthcare

Holdings

LLC

LIBOR

1

M

+

2.500%

5

.024

%

03/01/24

$

203,810‌

154

i

Da

Vinci

Purchaser

Corp

LIBOR

4

M

+

4.000%

6

.250

01/08/27

145‌

606,897

i

Global

Medical

Response,

Inc

LIBOR

12

M

+

4.250%

7

.378

10/02/25

529,214‌

1,900,938

i

Onex

TSG

Intermediate

Corp

LIBOR

12

M

+

4.750%

7

.865

02/28/28

1,685,504‌

1,047,237

i

RegionalCare

Hospital

Partners

Holdings,

Inc

LIBOR

12

M

+

3.750%

6

.871

11/16/25

976,360‌

1,000,000

i

Select

Medical

Corp

LIBOR

12

M

+

2.500%

5

.620

03/06/25

969,690‌

1,159,243

i

Surgery

Center

Holdings,

Inc

LIBOR

12

M

+

3.750%

6

.510

08/31/26

1,102,951‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

5,467,674‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0

.0

%

714,125

i

Energizer

Holdings,

Inc

LIBOR

12

M

+

2.250%

5

.313

12/22/27

684,668‌

876,982

i

Weber-Stephen

Products

LLC

LIBOR

12

M

+

3.250%

6

.365

10/30/27

720,085‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

1,404,753‌

INSURANCE

-

0

.1

%

213,367

i

Acrisure

LLC

LIBOR

12

M

+

3.500%

6

.615

02/15/27

195,675‌

735,265

i

Asurion

LLC

LIBOR

12

M

+

3.250%

6

.365

12/23/26

625,438‌

425,000

i

Asurion

LLC

LIBOR

12

M

+

5.250%

8

.365

01/31/28

322,469‌

117,051

i

Asurion

LLC

LIBOR

12

M

+

5.250%

8

.365

01/31/28

100,151‌

475,187

i

HUB

International

Ltd

LIBOR

4

M

+

3.250%

5

.982

04/25/25

458,646‌

474,485

i

USI,

Inc

LIBOR

4

M

+

2.750%

6

.424

05/16/24

462,969‌

TOTAL

INSURANCE

2,165,348‌

MATERIALS

-

0

.1

%

677,046

i

Asplundh

Tree

Expert

LLC

LIBOR

12

M

+

1.750%

4

.865

09/07/27

661,511‌

660,809

i

Berry

Global,

Inc

LIBOR

4

M

+

1.750%

4

.178

07/01/26

641,338‌

128,673

i

H.B.

Fuller

Co

LIBOR

12

M

+

2.000%

5

.014

10/20/24

128,606‌

763,375

i

Kloeckner

Pentaplast

of

America,

Inc

SOFR

2M

+

4.750%

8

.259

02/12/26

654,594‌

485,883

i

Messer

Industries

USA,

Inc

LIBOR

4

M

+

2.500%

4

.760

03/02/26

465,879‌

341,788

i

Quikrete

Holdings,

Inc

LIBOR

12

M

+

2.625%

5

.740

02/01/27

328,995‌

291,490

i

Tronox

Finance

LLC

LIBOR

12

M

+

2.250%

5

.365

03/10/28

277,717‌

1,447,789

i

Zekelman

Industries,

Inc

LIBOR

4

M

+

2.000%

5

.604

01/24/27

1,393,497‌

TOTAL

MATERIALS

4,552,137‌

MEDIA

&

ENTERTAINMENT

-

0

.2

%

485,805

i

Altice

Financing

S.A.

LIBOR

4

M

+

2.750%

5

.262

01/31/26

456,049‌

606,600

i

Arterra

Wines

Canada,

Inc

LIBOR

4

M

+

3.500%

7

.142

11/24/27

571,721‌

196,500

i

Cablevision

Lightpath

LLC

LIBOR

12

M

+

3.250%

6

.068

11/30/27

188,948‌

20,488

i

Cirque

Du

Soleil

Holding

USA

Newco,

Inc

LIBOR

4

M

+

6.000%

9

.642

11/24/25

20,008‌

264,998

i

City

Brewing

Co

LLC

LIBOR

12

M

+

3.500%

6

.185

04/05/28

208,907‌

714,125

i

CNT

Holdings

I

Corp

SOFR

12M

+

3.500%

6

.248

11/08/27

682,307‌

738,384

i

CSC

Holdings

LLC

LIBOR

12

M

+

2.250%

5

.068

07/17/25

706,545‌

500,000

i

Delta

2

Lux

Sarl

LIBOR

12

M

+

2.500%

5

.615

02/01/24

495,178‌

972,556

†,i

Diamond

Sports

Group

LLC

SOFR

12M

+

8.000%

6

.458

05/25/26

194,511‌

142,084

i

Diamond

Sports

Group

LLC

SOFR

12M

+

8.000%

10

.696

05/25/26

137,111‌

728,000

i

DIRECTV

Financing

LLC

LIBOR

12

M

+

5.000%

8

.115

08/02/27

679,999‌

966,640

i

INEOS

US

Petrochem

LLC

LIBOR

12

M

+

2.750%

5

.865

01/29/26

904,214‌

798,000

i

Mozart

Borrower

LP

LIBOR

12

M

+

3.250%

6

.365

10/23/28

735,281‌

1,498,750

i

Phoenix

Newco,

Inc

LIBOR

12

M

+

3.250%

5

.774

11/15/28

1,433,652‌

451,063

i

Rackspace

Technology

Global,

Inc

LIBOR

4

M

+

2.750%

5

.617

02/15/28

324,343‌

401,963

i

Radiate

Holdco

LLC

LIBOR

12

M

+

3.250%

6

.365

09/25/26

372,822‌

1,229,811

i

Ryan

Specialty

Group

LLC

SOFR

12M

+

3.000%

6

.134

09/01/27

1,192,916‌

275,000

i

SkyMiles

IP

Ltd

LIBOR

4

M

+

3.750%

6

.460

10/20/27

276,482‌

2,270

i

TK

Elevator

US

Newco,

Inc

LIBOR

2

M

+

3.500%

6

.871

07/30/27

2,181‌

459,949

i

Univision

Communications,

Inc

LIBOR

12

M

+

3.250%

5

.774

03/15/26

437,598‌

TOTAL

MEDIA

&

ENTERTAINMENT

10,020,773‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0

.1

%

531,502

i

Avantor,

Inc

LIBOR

12

M

+

2.250%

5

.365

11/08/27

518,797‌

883,995

i

Jazz

Financing

Lux

Sarl

LIBOR

12

M

+

3.500%

6

.615

05/05/28

856,132‌

450,452

i

Organon

&

Co

LIBOR

4

M

+

3.000%

6

.188

06/02/28

441,443‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

258

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

$

296,258

i

Perrigo

Investments

LLC

SOFR

12M

+

2.500%

5

.634

%

04/20/29

$

292,554‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

2,108,926‌

REAL

ESTATE

-

0

.0

%

630,327

i

Cushman

&

Wakefield

plc

LIBOR

12

M

+

2.750%

5

.865

08/21/25

603,989‌

TOTAL

REAL

ESTATE

603,989‌

RETAILING

-

0

.1

%

495,006

i

Chariot

Buyer

LLC

LIBOR

12

M

+

3.500%

6

.615

11/03/28

451,488‌

607,247

h,i

LS

GROUP

OPCO

ACQUISITIO

LIBOR

4

M

+

3.250%

6

.580

11/02/27

582,957‌

228,051

i

Men's

Wearhouse

LLC

LIBOR

4

M

+

8.000%

10

.782

12/01/25

223,966‌

494,986

i

PetSmart,

Inc

LIBOR

12

M

+

3.750%

6

.870

02/11/28

470,135‌

780,033

i

Resideo

Funding,

Inc

LIBOR

4

M

+

2.250%

5

.180

02/11/28

759,074‌

955,406

i

Staples,

Inc

LIBOR

4

M

+

5.000%

7

.782

04/16/26

842,448‌

TOTAL

RETAILING

3,330,068‌

SOFTWARE

&

SERVICES

-

0

.1

%

467,000

i

Avaya

Holdings

Corp

LIBOR

12

M

+

4.250%

7

.068

12/15/27

255,243‌

883,091

i

Camelot

Finance

S.A.

LIBOR

12

M

+

3.000%

6

.115

10/30/26

856,766‌

845,750

i

Informatica

LLC

LIBOR

12

M

+

2.750%

5

.875

10/27/28

823,553‌

506,730

i

Light

&

Wonder,

Inc

SOFR

12M

+

3.000%

5

.906

04/14/29

493,555‌

1,125

i

Magenta

Buyer

LLC

LIBOR

12

M

+

4.750%

7

.870

07/27/28

1,019‌

817,000

i

NortonLifeLock,

Inc

SOFR

12M

+

2.000%

4

.848

09/12/29

787,179‌

117,600

i

Presidio

Holdings,

Inc

LIBOR

4

M

+

3.500%

6

.310

01/22/27

114,072‌

471,438

i

RealPage,

Inc

LIBOR

12

M

+

3.000%

5

.524

04/24/28

442,890‌

645,135

i

SS&C

Technologies,

Inc

SOFR

12M

+

2.250%

5

.384

03/22/29

629,007‌

456,884

i

SS&C

Technologies,

Inc

SOFR

12M

+

2.250%

5

.384

03/22/29

445,462‌

122,824

i

UKG,

Inc

LIBOR

4

M

+

3.250%

5

.535

05/04/26

117,195‌

TOTAL

SOFTWARE

&

SERVICES

4,965,941‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0

.0

%

567,812

i

Ahead

DB

Holdings

LLC

LIBOR

4

M

+

3.750%

7

.430

10/18/27

543,504‌

493,750

i

Ingram

Micro,

Inc

LIBOR

4

M

+

3.500%

7

.174

06/30/28

482,024‌

450,000

i

Match

Group

Holdings

II

LLC

LIBOR

4

M

+

1.750%

4

.692

02/13/27

435,375‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

1,460,903‌

TELECOMMUNICATION

SERVICES

-

0

.1

%

484,843

i

CommScope,

Inc

LIBOR

12

M

+

3.250%

6

.365

04/06/26

449,086‌

687,621

h,i

MLN

US

Holdco

LLC

LIBOR

4

M

+

4.500%

8

.252

11/30/25

433,033‌

947,320

i

SFR

Group

S.A.

LIBOR

4

M

+

3.688%

6

.200

01/31/26

862,061‌

623,553

i

Zayo

Group

Holdings,

Inc

LIBOR

12

M

+

3.000%

6

.115

03/09/27

524,099‌

TOTAL

TELECOMMUNICATION

SERVICES

2,268,279‌

TRANSPORTATION

-

0

.1

%

553,613

i

Air

Canada

LIBOR

4

M

+

3.500%

6

.421

08/11/28

527,861‌

750,000

i

American

Airlines,

Inc

LIBOR

4

M

+

4.750%

7

.460

04/20/28

728,625‌

376,200

i

CHG

Healthcare

Services,

Inc

LIBOR

12

M

+

3.250%

6

.365

09/29/28

362,209‌

955,102

i

Genesee

&

Wyoming,

Inc

LIBOR

4

M

+

2.000%

5

.674

12/30/26

931,225‌

992,500

i

Gulf

Finance

LLC

LIBOR

12

M

+

6.750%

9

.390

08/25/26

790,988‌

451,250

i

Mileage

Plus

Holdings

LLC

LIBOR

4

M

+

5.250%

8

.777

06/21/27

454,393‌

987,500

i

United

Airlines,

Inc

LIBOR

4

M

+

3.750%

6

.533

04/21/28

946,696‌

596,736

i

XPO

Logistics,

Inc

LIBOR

12

M

+

1.750%

4

.383

02/24/25

582,143‌

TOTAL

TRANSPORTATION

5,324,140‌

UTILITIES

-

0

.1

%

459,433

i

AssuredPartners,

Inc

LIBOR

12

M

+

3.500%

6

.615

02/12/27

435,887‌

385,843

i

AssuredPartners,

Inc

LIBOR

12

M

+

3.500%

6

.615

02/12/27

366,190‌

41,463

i

Covanta

Holding

Corp

LIBOR

12

M

+

2.500%

5

.615

11/30/28

40,312‌

552,153

i

Covanta

Holding

Corp

LIBOR

12

M

+

2.500%

5

.615

11/30/28

536,822‌

1,942,894

i

Gopher

Resource

LLC

LIBOR

12

M

+

3.250%

6

.365

03/06/25

1,612,602‌

723,827

i

Seattle

SpinCo,

Inc

LIBOR

12

M

+

2.750%

5

.865

06/21/24

709,803‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

259

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

579,563

i

Seattle

SpinCo,

Inc

SOFR

12M

+

4.000%

7

.147

%

02/26/27

$

569,421‌

226,269

i

Utz

Quality

Foods

LLC

SOFR

12M

+

3.000%

6

.149

01/20/28

220,329‌

TOTAL

UTILITIES

4,491,366‌

TOTAL

BANK

LOAN

OBLIGATIONS

67,284,391‌

(Cost

$72,303,117)

BONDS

-

94.0%

CORPORATE

BONDS

-

37

.4

%

AUTOMOBILES

&

COMPONENTS

-

0

.7

%

4,500,000

g

Adient

Global

Holdings

Ltd

4

.875

08/15/26

3,943,935‌

575,000

Dana,

Inc

5

.375

11/15/27

487,312‌

350,000

Dana,

Inc

5

.625

06/15/28

288,803‌

325,000

Dana,

Inc

4

.250

09/01/30

238,047‌

1,000,000

e

Ford

Motor

Co

7

.450

07/16/31

981,618‌

1,755,000

Ford

Motor

Co

3

.250

02/12/32

1,264,179‌

2,635,000

Ford

Motor

Co

6

.100

08/19/32

2,323,016‌

4,900,000

g

Gates

Global

LLC

6

.250

01/15/26

4,508,000‌

3,300,000

General

Motors

Co

6

.125

10/01/25

3,301,429‌

4,750,000

General

Motors

Co

5

.400

10/15/29

4,379,722‌

1,350,000

General

Motors

Co

6

.600

04/01/36

1,262,149‌

3,325,000

General

Motors

Co

5

.200

04/01/45

2,531,725‌

750,000

General

Motors

Co

6

.750

04/01/46

682,882‌

5,000,000

e

Goodyear

Tire

&

Rubber

Co

5

.250

04/30/31

4,008,108‌

250,000

g,o

IHO

Verwaltungs

GmbH

4

.750

09/15/26

212,350‌

1,450,000

Magna

International,

Inc

3

.625

06/15/24

1,421,609‌

1,000,000

g

Nemak

SAB

de

C.V.

3

.625

06/28/31

673,510‌

TOTAL

AUTOMOBILES

&

COMPONENTS

32,508,394‌

BANKS

-

7

.5

%

2,000,000

e,g

Akbank

T.A.S.

6

.800

02/06/26

1,776,431‌

2,000,000

g

Akbank

T.A.S.

6

.797

04/27/28

1,745,520‌

1,500,000

g

Akbank

T.A.S.

6

.800

06/22/31

1,216,391‌

4,000,000

e

Banco

Bilbao

Vizcaya

Argentaria

S.A.

6

.500

N/A‡

3,471,240‌

2,500,000

g

Banco

de

Credito

e

Inversiones

S.A.

2

.875

10/14/31

1,926,421‌

1,855,000

g

Banco

do

Brasil

S.A.

3

.250

09/30/26

1,641,118‌

1,725,000

g

Banco

Industrial

S.A.

4

.875

01/29/31

1,570,112‌

3,000,000

g

Banco

Internacional

del

Peru

SAA

Interbank

4

.000

07/08/30

2,669,100‌

2,400,000

Banco

Santander

S.A.

5

.294

08/18/27

2,260,687‌

1,905,000

Banco

Santander

S.A.

3

.800

02/23/28

1,650,797‌

2,200,000

Banco

Santander

S.A.

7

.500

N/A‡

2,046,273‌

3,800,000

Banco

Santander

S.A.

4

.750

N/A‡

2,627,168‌

2,000,000

Bancolombia

S.A.

4

.625

12/18/29

1,680,000‌

2,500,000

g

Bangkok

Bank

PCL

4

.300

06/15/27

2,401,100‌

2,600,000

g

Bangkok

Bank

PCL

3

.466

09/23/36

2,010,358‌

500,000

g

Bangkok

Bank

PCL

5

.000

N/A‡

442,500‌

2,000,000

g

Banistmo

S.A.

4

.250

07/31/27

1,800,303‌

4,000,000

g

Bank

Hapoalim

BM

3

.255

01/21/32

3,319,832‌

3,000,000

g

Bank

Leumi

Le-Israel

BM

3

.275

01/29/31

2,542,500‌

19,525,000

Bank

of

America

Corp

0

.810

10/24/24

18,564,352‌

22,795,000

Bank

of

America

Corp

2

.592

04/29/31

18,077,826‌

9,225,000

Bank

of

America

Corp

1

.922

10/24/31

6,823,708‌

3,925,000

Bank

of

America

Corp

2

.572

10/20/32

3,001,951‌

4,750,000

Bank

of

America

Corp

2

.972

02/04/33

3,713,318‌

4,400,000

Bank

of

America

Corp

3

.846

03/08/37

3,549,932‌

5,700,000

Bank

of

America

Corp

2

.676

06/19/41

3,681,380‌

2,850,000

Bank

of

America

Corp

4

.375

N/A‡

2,287,125‌

7,000,000

Bank

of

America

Corp

6

.100

N/A‡

6,710,270‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

260

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

3,000,000

Barclays

plc

3

.932

%

05/07/25

$

2,885,203‌

450,000

Barclays

plc

2

.279

11/24/27

376,884‌

2,225,000

Barclays

plc

3

.330

11/24/42

1,406,892‌

1,855,000

Barclays

plc

6

.125

N/A‡

1,563,023‌

3,300,000

g

BNP

Paribas

S.A.

2

.819

11/19/25

3,075,703‌

100,000

g

BNP

Paribas

S.A.

4

.375

05/12/26

94,281‌

2,150,000

g

BNP

Paribas

S.A.

1

.904

09/30/28

1,734,884‌

1,800,000

g

BNP

Paribas

S.A.

2

.159

09/15/29

1,408,110‌

6,600,000

g

BNP

Paribas

S.A.

2

.588

08/12/35

4,714,267‌

5,895,000

Citigroup,

Inc

3

.200

10/21/26

5,400,218‌

2,805,000

Citigroup,

Inc

4

.300

11/20/26

2,654,059‌

695,000

Citigroup,

Inc

4

.450

09/29/27

643,343‌

2,135,000

Citigroup,

Inc

2

.572

06/03/31

1,679,216‌

9,125,000

Citigroup,

Inc

2

.520

11/03/32

6,914,354‌

5,000,000

Citigroup,

Inc

4

.910

05/24/33

4,599,979‌

2,500,000

Citigroup,

Inc

6

.300

N/A‡

2,328,220‌

5,000,000

Citigroup,

Inc

6

.250

N/A‡

4,782,500‌

3,700,000

Citigroup,

Inc

5

.000

N/A‡

3,292,547‌

1,075,000

g

Cooperatieve

Rabobank

UA

1

.339

06/24/26

952,700‌

4,950,000

Cooperatieve

Rabobank

UA

3

.750

07/21/26

4,559,962‌

1,525,000

g

DBS

Group

Holdings

Ltd

4

.520

12/11/28

1,513,070‌

1,775,000

g

Development

Bank

of

Kazakhstan

JSC

5

.750

05/12/25

1,768,256‌

2,450,000

Discover

Bank

2

.450

09/12/24

2,317,304‌

800,000

Discover

Bank

4

.250

03/13/26

756,913‌

1,625,000

Discover

Bank

3

.450

07/27/26

1,479,290‌

1,375,000

Discover

Bank

2

.700

02/06/30

1,079,409‌

2,500,000

g

Grupo

Aval

Ltd

4

.375

02/04/30

1,810,500‌

2,160,000

g

Hana

Bank

3

.500

N/A‡

1,934,078‌

1,300,000

HSBC

Holdings

plc

3

.900

05/25/26

1,218,383‌

4,325,000

HSBC

Holdings

plc

4

.292

09/12/26

4,079,036‌

8,750,000

HSBC

Holdings

plc

2

.251

11/22/27

7,351,652‌

2,250,000

HSBC

Holdings

plc

2

.013

09/22/28

1,798,343‌

2,950,000

HSBC

Holdings

plc

2

.206

08/17/29

2,282,607‌

2,200,000

HSBC

Holdings

plc

3

.973

05/22/30

1,861,907‌

990,000

Huntington

Bancshares,

Inc

4

.000

05/15/25

959,874‌

4,000,000

Huntington

Bancshares,

Inc

5

.625

N/A‡

3,706,609‌

1,100,000

ING

Groep

NV

3

.950

03/29/27

1,011,780‌

3,000,000

ING

Groep

NV

3

.875

N/A‡

1,949,550‌

3,000,000

g

Intercorp

Financial

Services,

Inc

4

.125

10/19/27

2,595,541‌

700,000

JPMorgan

Chase

&

Co

2

.700

05/18/23

693,280‌

660,000

JPMorgan

Chase

&

Co

3

.900

07/15/25

638,271‌

350,000

JPMorgan

Chase

&

Co

3

.200

06/15/26

324,925‌

6,325,000

JPMorgan

Chase

&

Co

4

.323

04/26/28

5,927,185‌

13,880,000

JPMorgan

Chase

&

Co

3

.702

05/06/30

12,117,071‌

7,725,000

JPMorgan

Chase

&

Co

1

.953

02/04/32

5,714,421‌

2,750,000

JPMorgan

Chase

&

Co

2

.525

11/19/41

1,716,786‌

12,350,000

JPMorgan

Chase

&

Co

3

.157

04/22/42

8,455,720‌

1,250,000

JPMorgan

Chase

&

Co

4

.260

02/22/48

986,429‌

2,500,000

i

JPMorgan

Chase

&

Co

LIBOR

3

M

+

3.320%

5

.597

N/A‡

2,500,000‌

4,000,000

JPMorgan

Chase

&

Co

5

.000

N/A‡

3,607,000‌

2,000,000

JPMorgan

Chase

&

Co

6

.100

N/A‡

1,920,000‌

5,250,000

JPMorgan

Chase

&

Co

3

.650

N/A‡

4,251,511‌

890,000

Keycorp

5

.000

N/A‡

789,229‌

3,000,000

Lloyds

Banking

Group

plc

7

.500

N/A‡

2,737,500‌

2,900,000

Lloyds

Banking

Group

plc

6

.750

N/A‡

2,601,978‌

4,175,000

M&T

Bank

Corp

3

.500

N/A‡

3,112,804‌

1,800,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.193

02/25/25

1,669,730‌

3,000,000

g

Mizrahi

Tefahot

Bank

Ltd

3

.077

04/07/31

2,516,250‌

1,700,000

NatWest

Group

plc

5

.516

09/30/28

1,613,426‌

4,900,000

g

NBK

SPC

Ltd

1

.625

09/15/27

4,201,750‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

261

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

3,000,000

g

NBK

Tier  Financing

Ltd

3

.625

%

N/A‡

$

2,547,156‌

665,000

g

Oversea-Chinese

Banking

Corp

Ltd

1

.832

09/10/30

594,975‌

2,500,000

PNC

Financial

Services

Group,

Inc

3

.900

04/29/24

2,463,559‌

5,225,000

PNC

Financial

Services

Group,

Inc

3

.400

N/A‡

3,899,300‌

2,500,000

i

PNC

Financial

Services

Group,

Inc

LIBOR

3

M

+

3.678%

3

.804

N/A‡

2,483,051‌

3,000,000

Royal

Bank

of

Scotland

Group

plc

6

.000

N/A‡

2,617,500‌

1,830,000

Santander

Holdings

USA,

Inc

3

.400

01/18/23

1,822,296‌

3,675,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.778

10/18/22

3,673,563‌

1,600,000

Sumitomo

Mitsui

Financial

Group,

Inc

1

.474

07/08/25

1,439,454‌

1,500,000

SVB

Financial

Group

4

.100

N/A‡

1,022,877‌

475,000

Toronto-Dominion

Bank

3

.625

09/15/31

432,989‌

3,055,000

Truist

Financial

Corp

4

.800

N/A‡

2,720,006‌

3,000,000

g

Turkiye

Garanti

Bankasi

AS.

7

.177

05/24/27

2,503,080‌

2,500,000

g

Turkiye

Vakiflar

Bankasi

TAO

6

.500

01/08/26

2,156,680‌

550,000

g

Turkiye

Vakiflar

Bankasi

TAO

5

.500

10/01/26

447,610‌

2,100,000

g

UBS

Group

AG.

3

.179

02/11/43

1,352,426‌

1,700,000

g

United

Overseas

Bank

Ltd

3

.750

04/15/29

1,655,212‌

3,000,000

g

United

Overseas

Bank

Ltd

2

.000

10/14/31

2,580,038‌

925,000

Wells

Fargo

&

Co

3

.750

01/24/24

910,570‌

1,050,000

Wells

Fargo

&

Co

3

.550

09/29/25

998,532‌

3,800,000

Wells

Fargo

&

Co

3

.526

03/24/28

3,441,726‌

5,825,000

Wells

Fargo

&

Co

2

.393

06/02/28

4,995,507‌

7,000,000

Wells

Fargo

&

Co

3

.900

N/A‡

5,919,375‌

1,500,000

Wells

Fargo

&

Co

5

.875

N/A‡

1,428,072‌

635,000

Westpac

Banking

Corp

2

.668

11/15/35

467,120‌

TOTAL

BANKS

324,416,100‌

CAPITAL

GOODS

-

1

.0

%

1,325,000

Air

Lease

Corp

3

.000

02/01/30

1,049,287‌

4,100,000

Air

Lease

Corp

3

.125

12/01/30

3,228,227‌

1,690,000

g

Airbus

SE

3

.150

04/10/27

1,561,582‌

600,000

g

BAE

Systems

plc

1

.900

02/15/31

453,345‌

2,000,000

g

BOC

Aviation

Ltd

3

.000

09/11/29

1,689,260‌

10,500,000

Boeing

Co

2

.196

02/04/26

9,318,094‌

1,050,000

Boeing

Co

3

.250

02/01/28

915,849‌

2,350,000

Boeing

Co

2

.950

02/01/30

1,889,245‌

2,300,000

Boeing

Co

3

.250

02/01/35

1,624,382‌

1,375,000

Boeing

Co

5

.705

05/01/40

1,201,011‌

3,375,000

Boeing

Co

5

.805

05/01/50

2,932,847‌

3,075,000

g

H&E

Equipment

Services,

Inc

3

.875

12/15/28

2,413,875‌

1,750,000

Ingersoll-Rand

Luxembourg

Finance

S.A.

3

.800

03/21/29

1,571,865‌

800,000

L3Harris

Technologies,

Inc

3

.850

06/15/23

796,192‌

500,000

g

Land

O'

Lakes,

Inc

8

.000

N/A‡

480,000‌

75,000

Lockheed

Martin

Corp

1

.850

06/15/30

60,775‌

1,925,000

Northrop

Grumman

Corp

3

.250

01/15/28

1,751,571‌

2,625,000

Parker-Hannifin

Corp

3

.250

06/14/29

2,311,336‌

199,000

Raytheon

Technologies

Corp

3

.650

08/16/23

197,067‌

4,450,000

Raytheon

Technologies

Corp

4

.125

11/16/28

4,157,674‌

1,080,000

Raytheon

Technologies

Corp

2

.250

07/01/30

872,805‌

1,725,000

Raytheon

Technologies

Corp

4

.500

06/01/42

1,475,181‌

325,000

g

Rolls-Royce

plc

5

.750

10/15/27

282,344‌

725,000

g

WESCO

Distribution,

Inc

7

.250

06/15/28

710,102‌

TOTAL

CAPITAL

GOODS

42,943,916‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.5

%

2,125,000

g

ADT

Corp

4

.875

07/15/32

1,713,733‌

1,395,000

g

Albion

Financing

1

SARL

6

.125

10/15/26

1,179,375‌

800,000

g

ASGN,

Inc

4

.625

05/15/28

688,441‌

925,000

g

Booz

Allen

Hamilton,

Inc

3

.875

09/01/28

795,743‌

370,000

g

Booz

Allen

Hamilton,

Inc

4

.000

07/01/29

316,558‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

262

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES—continued

$

250,000

g

GFL

Environmental,

Inc

4

.250

%

06/01/25

$

234,455‌

1,000,000

g

GFL

Environmental,

Inc

3

.750

08/01/25

915,000‌

250,000

g

GFL

Environmental,

Inc

5

.125

12/15/26

232,811‌

3,150,000

g

GFL

Environmental,

Inc

3

.500

09/01/28

2,656,426‌

775,000

g

Prime

Security

Services

Borrower

LLC

5

.250

04/15/24

747,875‌

2,750,000

g

Prime

Security

Services

Borrower

LLC

5

.750

04/15/26

2,587,585‌

1,200,000

g

Prime

Security

Services

Borrower

LLC

3

.375

08/31/27

1,008,204‌

2,725,000

g

Prime

Security

Services

Borrower

LLC

6

.250

01/15/28

2,325,437‌

1,550,000

Republic

Services,

Inc

2

.900

07/01/26

1,423,901‌

200,000

g

Ritchie

Bros

Auctioneers,

Inc

5

.375

01/15/25

196,194‌

1,330,000

Verisk

Analytics,

Inc

4

.125

03/15/29

1,213,239‌

75,000

Verisk

Analytics,

Inc

3

.625

05/15/50

51,139‌

1,325,000

g

WASH

Multifamily

Acquisition,

Inc

5

.750

04/15/26

1,221,524‌

850,000

Waste

Management,

Inc

2

.500

11/15/50

517,635‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

20,025,275‌

CONSUMER

DURABLES

&

APPAREL

-

0

.3

%

5,000,000

Lennar

Corp

4

.750

11/29/27

4,616,500‌

369,000

Newell

Brands,

Inc

4

.875

06/01/25

356,712‌

1,175,000

Newell

Brands,

Inc

6

.375

09/15/27

1,163,520‌

5,000,000

PulteGroup,

Inc

5

.000

01/15/27

4,848,957‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

10,985,689‌

CONSUMER

SERVICES

-

0

.6

%

8,000,000

Anheuser-Busch

Cos

LLC

3

.650

02/01/26

7,684,563‌

2,830,000

Anheuser-Busch

Cos

LLC

4

.900

02/01/46

2,459,496‌

1,825,000

g

Cedar

Fair

LP

5

.500

05/01/25

1,755,522‌

2,300,000

g

ENA

Master

Trust

4

.000

05/19/48

1,708,900‌

150,000

g

Hilton

Domestic

Operating

Co,

Inc

5

.750

05/01/28

140,250‌

2,200,000

g

Hilton

Domestic

Operating

Co,

Inc

3

.625

02/15/32

1,684,977‌

2,070,000

g

International

Game

Technology

plc

6

.500

02/15/25

2,064,825‌

400,000

g

International

Game

Technology

plc

4

.125

04/15/26

365,584‌

2,550,000

g

Live

Nation

Entertainment,

Inc

6

.500

05/15/27

2,453,738‌

425,000

g

Marriott

Ownership

Resorts,

Inc

4

.500

06/15/29

335,880‌

2,150,000

McDonald's

Corp

4

.600

09/09/32

2,054,028‌

2,355,000

i

Nature

Conservancy

LIBOR

3

M

+

1.080%

3

.862

02/01/24

2,350,766‌

1,665,000

Sands

China

Ltd

2

.800

03/08/27

1,322,959‌

450,000

g

Wynn

Macau

Ltd

5

.625

08/26/28

299,754‌

TOTAL

CONSUMER

SERVICES

26,681,242‌

DIVERSIFIED

FINANCIALS

-

3

.8

%

2,150,000

AerCap

Ireland

Capital

DAC

1

.750

01/30/26

1,838,667‌

5,500,000

AerCap

Ireland

Capital

DAC

2

.450

10/29/26

4,639,837‌

2,650,000

AerCap

Ireland

Capital

DAC

3

.000

10/29/28

2,125,209‌

1,250,000

AerCap

Ireland

Capital

DAC

3

.300

01/30/32

940,085‌

750,000

AerCap

Ireland

Capital

DAC

3

.850

10/29/41

498,192‌

2,312,000

American

Express

Co

3

.700

08/03/23

2,297,226‌

3,000,000

g

B3

S.A.-Brasil

Bolsa

Balcao

4

.125

09/20/31

2,348,348‌

3,000,000

g

Banco

BTG

Pactual

S.A.

2

.750

01/11/26

2,604,000‌

1,380,000

g

Banco

Mercantil

del

Norte

S.A.

6

.750

N/A‡

1,278,225‌

4,086,000

Bank

of

New

York

Mellon

Corp

4

.700

N/A‡

3,912,345‌

2,850,000

g

BBVA

Bancomer

S.A.

5

.125

01/18/33

2,358,412‌

2,825,000

Capital

One

Bank

USA

NA

3

.375

02/15/23

2,813,351‌

75,000

Capital

One

Financial

Corp

3

.750

03/09/27

69,045‌

3,940,000

e

Capital

One

Financial

Corp

3

.950

N/A‡

3,092,900‌

6,675,000

Charles

Schwab

Corp

5

.375

N/A‡

6,491,437‌

600,000

g

Compass

Group

Diversified

Holdings

LLC

5

.250

04/15/29

470,838‌

475,000

g

Credit

Suisse

Group

AG.

2

.193

06/05/26

413,007‌

5,900,000

g

Credit

Suisse

Group

AG.

1

.305

02/02/27

4,789,148‌

2,050,000

g

Credit

Suisse

Group

AG.

6

.442

08/11/28

1,906,396‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

263

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

4,075,000

Credit

Suisse

Group

Funding

Guernsey

Ltd

3

.800

%

06/09/23

$

4,009,947‌

2,325,000

Credit

Suisse

Group

Funding

Guernsey

Ltd

3

.750

03/26/25

2,165,860‌

2,450,000

Deutsche

Bank

AG.

5

.371

09/09/27

2,364,596‌

2,275,000

Deutsche

Bank

AG.

2

.311

11/16/27

1,845,396‌

6,400,000

Discover

Financial

Services

6

.125

N/A‡

6,242,938‌

4,550,000

Equitable

Holdings,

Inc

4

.950

N/A‡

4,265,625‌

1,140,000

Ford

Motor

Credit

Co

LLC

5

.584

03/18/24

1,117,542‌

1,400,000

Ford

Motor

Credit

Co

LLC

4

.000

11/13/30

1,092,000‌

4,868,000

GE

Capital

International

Funding

Co

4

.418

11/15/35

4,361,343‌

2,000,000

General

Motors

Financial

Co,

Inc

2

.750

06/20/25

1,842,284‌

6,600,000

General

Motors

Financial

Co,

Inc

5

.000

04/09/27

6,256,199‌

8,225,000

General

Motors

Financial

Co,

Inc

2

.700

06/10/31

6,037,843‌

2,550,000

General

Motors

Financial

Co,

Inc

5

.700

N/A‡

2,185,652‌

2,000,000

e

General

Motors

Financial

Co,

Inc

5

.750

N/A‡

1,622,432‌

1,250,000

Goldman

Sachs

Group,

Inc

4

.000

03/03/24

1,231,610‌

1,000,000

Goldman

Sachs

Group,

Inc

3

.500

04/01/25

955,203‌

11,100,000

Goldman

Sachs

Group,

Inc

4

.482

08/23/28

10,417,312‌

2,500,000

Goldman

Sachs

Group,

Inc

2

.615

04/22/32

1,937,820‌

710,000

Goldman

Sachs

Group,

Inc

2

.650

10/21/32

544,192‌

1,065,000

Goldman

Sachs

Group,

Inc

4

.017

10/31/38

841,159‌

1,625,000

Goldman

Sachs

Group,

Inc

3

.210

04/22/42

1,100,964‌

1,450,000

Goldman

Sachs

Group,

Inc

3

.436

02/24/43

1,004,047‌

6,050,000

Goldman

Sachs

Group,

Inc

5

.500

N/A‡

5,808,000‌

1,250,000

†,g,i

Hestia

Re

Ltd

SOFR

+

9.500%

9

.500

04/22/25

62,500‌

2,000,000

g

High

Street

Funding

Trust

I

4

.111

02/15/28

1,841,568‌

925,000

Icahn

Enterprises

LP

5

.250

05/15/27

809,847‌

3,850,000

Icahn

Enterprises

LP

4

.375

02/01/29

3,098,788‌

5,000,000

g

Indian

Railway

Finance

Corp

Ltd

2

.800

02/10/31

3,817,240‌

425,000

Legg

Mason,

Inc

3

.950

07/15/24

417,269‌

3,425,000

g

LPL

Holdings,

Inc

4

.000

03/15/29

2,937,554‌

1,145,000

g

Matterhorn

Re

Ltd

0

.000

12/07/22

1,099,200‌

500,000

g,i

Matterhorn

Re

Ltd

SOFR

+

5.315%

5

.889

03/24/25

480,000‌

1,400,000

g

Minejesa

Capital

BV

4

.625

08/10/30

1,155,000‌

1,000,000

g

Minejesa

Capital

BV

5

.625

08/10/37

715,000‌

3,445,000

Morgan

Stanley

2

.720

07/22/25

3,267,946‌

2,650,000

Morgan

Stanley

2

.188

04/28/26

2,430,783‌

1,000,000

Morgan

Stanley

4

.679

07/17/26

973,723‌

6,625,000

Morgan

Stanley

3

.125

07/27/26

6,100,391‌

1,480,000

Morgan

Stanley

3

.950

04/23/27

1,375,340‌

1,300,000

Morgan

Stanley

1

.512

07/20/27

1,107,192‌

1,425,000

Morgan

Stanley

2

.699

01/22/31

1,155,348‌

425,000

Morgan

Stanley

1

.794

02/13/32

310,599‌

1,325,000

Morgan

Stanley

1

.928

04/28/32

967,308‌

535,000

Morgan

Stanley

2

.239

07/21/32

401,901‌

1,140,000

Northern

Trust

Corp

3

.950

10/30/25

1,112,949‌

1,345,000

OneMain

Finance

Corp

3

.500

01/15/27

1,047,718‌

2,375,000

g

Power

Finance

Corp

Ltd

3

.950

04/23/30

1,982,911‌

2,000,000

g

REC

Ltd

4

.750

05/19/23

1,992,181‌

1,830,000

e,g

S&P

Global,

Inc

4

.250

05/01/29

1,718,890‌

1,000,000

SLM

Corp

5

.500

01/25/23

994,447‌

2,100,000

g

Societe

Generale

S.A.

4

.027

01/21/43

1,300,885‌

600,000

Springleaf

Finance

Corp

6

.125

03/15/24

577,914‌

1,350,000

Springleaf

Finance

Corp

5

.375

11/15/29

1,046,250‌

700,000

g

Swiss

Re

Finance

Luxembourg

SA

5

.000

04/02/49

612,500‌

2,500,000

g

UBS

Group

AG

7

.000

N/A‡

2,365,500‌

260,000

Voya

Financial,

Inc

5

.700

07/15/43

233,470‌

TOTAL

DIVERSIFIED

FINANCIALS

163,646,744‌

ENERGY

-

3

.7

%

1,450,000

g

Abu

Dhabi

Crude

Oil

Pipeline

LLC

4

.600

11/02/47

1,292,578‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

264

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

3,950,000

g

Archrock

Partners

LP

6

.875

%

04/01/27

$

3,537,542‌

375,000

g

Archrock

Partners

LP

6

.250

04/01/28

329,623‌

550,000

Cenovus

Energy,

Inc

2

.650

01/15/32

423,879‌

2,000,000

Cenovus

Energy,

Inc

5

.400

06/15/47

1,712,112‌

128,950

o

Cloud

Peak

Energy,

Inc

12

.000

05/01/25

112,187‌

2,125,000

g

Cosan

Ltd

5

.500

09/20/29

1,916,750‌

2,125,000

Diamondback

Energy,

Inc

3

.250

12/01/26

1,959,742‌

3,000,000

Diamondback

Energy,

Inc

3

.500

12/01/29

2,589,415‌

2,200,000

Diamondback

Energy,

Inc

3

.125

03/24/31

1,784,489‌

1,600,000

Diamondback

Energy,

Inc

4

.250

03/15/52

1,168,053‌

1,790,000

g

DT

Midstream,

Inc

4

.125

06/15/29

1,512,550‌

1,490,000

g

DT

Midstream,

Inc

4

.375

06/15/31

1,228,833‌

2,300,000

Ecopetrol

S.A.

6

.875

04/29/30

1,931,798‌

2,275,000

Ecopetrol

S.A.

4

.625

11/02/31

1,592,500‌

2,000,000

g

Empresa

Nacional

del

Petroleo

3

.450

09/16/31

1,565,000‌

2,340,000

Enbridge,

Inc

5

.750

07/15/80

2,058,615‌

500,000

g

Energean

Israel

Finance

Ltd

4

.875

03/30/26

440,221‌

897,000

g

Energean

Israel

Finance

Ltd

5

.375

03/30/28

755,959‌

4,200,000

Energy

Transfer

LP

6

.500

N/A‡

3,658,637‌

1,375,000

Energy

Transfer

Operating

LP

2

.900

05/15/25

1,281,633‌

950,000

Energy

Transfer

Operating

LP

4

.750

01/15/26

915,311‌

575,000

Energy

Transfer

Operating

LP

5

.500

06/01/27

560,105‌

2,000,000

Energy

Transfer

Operating

LP

4

.950

06/15/28

1,862,775‌

575,000

Energy

Transfer

Operating

LP

5

.250

04/15/29

540,762‌

2,100,000

Energy

Transfer

Operating

LP

6

.250

04/15/49

1,862,966‌

2,700,000

Energy

Transfer

Operating

LP

5

.000

05/15/50

2,110,315‌

525,000

g

EnLink

Midstream

LLC

5

.625

01/15/28

490,875‌

745,000

g

EnLink

Midstream

LLC

6

.500

09/01/30

727,493‌

1,025,000

Enterprise

Products

Operating

LLC

3

.700

02/15/26

977,866‌

1,550,000

Enterprise

Products

Operating

LLC

3

.125

07/31/29

1,335,117‌

200,000

Enterprise

Products

Operating

LLC

2

.800

01/31/30

167,018‌

1,025,000

Enterprise

Products

Operating

LLC

4

.250

02/15/48

790,486‌

2,105,000

Enterprise

Products

Operating

LLC

4

.200

01/31/50

1,607,401‌

3,125,000

Enterprise

Products

Operating

LLC

3

.700

01/31/51

2,197,331‌

825,000

Enterprise

Products

Operating

LLC

3

.200

02/15/52

526,551‌

1,225,000

Enterprise

Products

Operating

LLC

3

.300

02/15/53

796,946‌

450,000

g

EQM

Midstream

Partners

LP

6

.000

07/01/25

416,084‌

2,000,000

g

EQM

Midstream

Partners

LP

4

.500

01/15/29

1,611,356‌

850,000

g

EQT

Corp

3

.125

05/15/26

774,104‌

3,082,025

g

Galaxy

Pipeline

Assets

Bidco

Ltd

2

.160

03/31/34

2,520,564‌

2,750,000

g

Galaxy

Pipeline

Assets

Bidco

Ltd

2

.625

03/31/36

2,113,768‌

675,000

Genesis

Energy

LP

6

.500

10/01/25

610,267‌

3,750,000

Genesis

Energy

LP

6

.250

05/15/26

3,255,282‌

450,000

g

Hilcorp

Energy

I

LP

5

.750

02/01/29

393,419‌

450,000

g

Hilcorp

Energy

I

LP

6

.000

02/01/31

389,874‌

475,000

g

Holly

Energy

Partners

LP

6

.375

04/15/27

453,625‌

1,700,000

g

KazMunayGas

National

Co

JSC

5

.375

04/24/30

1,332,323‌

2,000,000

g

KazMunayGas

National

Co

JSC

3

.500

04/14/33

1,309,160‌

715,000

Kinder

Morgan

Energy

Partners

LP

5

.400

09/01/44

605,742‌

1,325,000

g

Kosmos

Energy

Ltd

7

.750

05/01/27

1,053,375‌

2,025,000

g

Leviathan

Bond

Ltd

6

.125

06/30/25

1,900,470‌

2,200,000

Marathon

Petroleum

Corp

3

.800

04/01/28

1,968,465‌

4,150,000

Marathon

Petroleum

Corp

4

.750

09/15/44

3,329,023‌

1,650,000

Marathon

Petroleum

Corp

5

.000

09/15/54

1,326,796‌

2,500,000

g

MEG

Energy

Corp

7

.125

02/01/27

2,537,500‌

2,625,000

MPLX

LP

1

.750

03/01/26

2,296,827‌

7,275,000

MPLX

LP

2

.650

08/15/30

5,699,403‌

1,550,000

MPLX

LP

4

.700

04/15/48

1,180,951‌

1,617,000

Murphy

Oil

Corp

5

.875

12/01/27

1,511,475‌

325,000

Occidental

Petroleum

Corp

5

.500

12/01/25

326,625‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

265

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

800,000

Occidental

Petroleum

Corp

5

.550

%

03/15/26

$

800,912‌

2,375,000

e

Occidental

Petroleum

Corp

3

.500

08/15/29

2,169,943‌

1,100,000

ONEOK,

Inc

4

.000

07/13/27

1,009,389‌

4,150,000

ONEOK,

Inc

4

.550

07/15/28

3,799,384‌

3,050,000

ONEOK,

Inc

4

.350

03/15/29

2,728,456‌

1,650,000

ONEOK,

Inc

4

.500

03/15/50

1,193,236‌

2,000,000

g

Parkland

Corp

4

.500

10/01/29

1,614,641‌

1,260,000

g

Parkland

Corp

4

.625

05/01/30

1,021,451‌

5,000,000

g

Pertamina

Persero

PT

1

.400

02/09/26

4,290,727‌

3,000,000

g

Pertamina

Persero

PT

2

.300

02/09/31

2,250,408‌

2,000,000

Petrobras

Global

Finance

BV

6

.900

03/19/49

1,663,600‌

1,992,000

Petroleos

Mexicanos

6

.840

01/23/30

1,484,737‌

2,700,000

Petroleos

Mexicanos

5

.950

01/28/31

1,823,580‌

4,509,000

Petroleos

Mexicanos

6

.700

02/16/32

3,163,627‌

2,700,000

Phillips

66

2

.150

12/15/30

2,080,248‌

1,450,000

Phillips

66

3

.300

03/15/52

949,203‌

715,000

g

Phillips

66

Co

4

.680

02/15/45

589,219‌

475,000

Regency

Energy

Partners

LP

4

.500

11/01/23

470,835‌

705,000

Sabine

Pass

Liquefaction

LLC

5

.875

06/30/26

705,547‌

3,950,000

Sabine

Pass

Liquefaction

LLC

4

.200

03/15/28

3,602,234‌

5,800,000

Sabine

Pass

Liquefaction

LLC

4

.500

05/15/30

5,283,623‌

640,000

g

Santos

Finance

Ltd

3

.649

04/29/31

497,355‌

2,675,000

g

Saudi

Arabian

Oil

Co

2

.250

11/24/30

2,153,508‌

820,000

Shell

International

Finance

BV

3

.125

11/07/49

561,216‌

2,000,000

g

SierraCol

Energy

Andina

LLC

6

.000

06/15/28

1,299,317‌

455,000

Suncor

Energy,

Inc

6

.800

05/15/38

459,758‌

1,400,000

Sunoco

Logistics

Partners

Operations

LP

4

.000

10/01/27

1,269,670‌

600,000

Sunoco

Logistics

Partners

Operations

LP

5

.400

10/01/47

485,805‌

1,150,000

Sunoco

LP

4

.500

05/15/29

953,983‌

1,525,000

Targa

Resources

Corp

4

.200

02/01/33

1,270,017‌

1,525,000

Targa

Resources

Corp

4

.950

04/15/52

1,173,338‌

525,000

Targa

Resources

Partners

LP

6

.500

07/15/27

518,877‌

1,000,000

Targa

Resources

Partners

LP

4

.000

01/15/32

824,705‌

2,000,000

g

Thaioil

Treasury

Center

Co

Ltd

2

.500

06/18/30

1,562,240‌

3,300,000

Total

Capital

International

S.A.

3

.127

05/29/50

2,278,782‌

3,440,000

TransCanada

PipeLines

Ltd

4

.250

05/15/28

3,184,500‌

1,750,000

TransCanada

PipeLines

Ltd

2

.500

10/12/31

1,346,415‌

2,000,000

TransCanada

Trust

5

.500

09/15/79

1,730,000‌

1,242,000

g

Tullow

Oil

plc

10

.250

05/15/26

1,049,490‌

1,600,000

USA

Compression

Partners

LP

6

.875

04/01/26

1,472,000‌

1,075,000

USA

Compression

Partners

LP

6

.875

09/01/27

976,987‌

1,800,000

Williams

Cos,

Inc

2

.600

03/15/31

1,411,381‌

TOTAL

ENERGY

158,412,256‌

FOOD

&

STAPLES

RETAILING

-

0

.3

%

2,350,000

Costco

Wholesale

Corp

1

.600

04/20/30

1,884,295‌

1,460,000

Kroger

Co

3

.875

10/15/46

1,110,231‌

2,500,000

g

MARB

BondCo

plc

3

.950

01/29/31

1,809,375‌

675,000

SYSCO

Corp

3

.300

07/15/26

631,178‌

2,250,000

SYSCO

Corp

3

.150

12/14/51

1,422,240‌

2,200,000

Walmart,

Inc

1

.050

09/17/26

1,919,610‌

280,000

Walmart,

Inc

2

.375

09/24/29

240,243‌

5,125,000

Walmart,

Inc

1

.800

09/22/31

4,071,655‌

2,375,000

Walmart,

Inc

2

.500

09/22/41

1,655,163‌

TOTAL

FOOD

&

STAPLES

RETAILING

14,743,990‌

FOOD,

BEVERAGE

&

TOBACCO

-

1

.1

%

5,580,000

Anheuser-Busch

InBev

Worldwide,

Inc

4

.750

01/23/29

5,435,806‌

1,745,000

Anheuser-Busch

InBev

Worldwide,

Inc

4

.439

10/06/48

1,415,585‌

1,850,000

BAT

Capital

Corp

2

.259

03/25/28

1,471,487‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

266

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

$

3,650,000

BAT

Capital

Corp

4

.906

%

04/02/30

$

3,222,742‌

3,735,000

BAT

Capital

Corp

2

.726

03/25/31

2,779,635‌

1,100,000

BAT

Capital

Corp

4

.742

03/16/32

920,193‌

4,400,000

BAT

International

Finance

plc

4

.448

03/16/28

3,921,533‌

2,000,000

g

BRF

S.A.

5

.750

09/21/50

1,378,075‌

2,700,000

g

Cia

Cervecerias

Unidas

S.A.

3

.350

01/19/32

2,278,125‌

1,830,000

g

CNTL

AMR

BOTTLING

CORP

5

.250

04/27/29

1,587,525‌

3,000,000

g

Coca-Cola

Icecek

AS.

4

.500

01/20/29

2,453,111‌

450,000

Constellation

Brands,

Inc

4

.400

11/15/25

440,570‌

450,000

Constellation

Brands,

Inc

3

.700

12/06/26

422,860‌

1,625,000

Constellation

Brands,

Inc

3

.150

08/01/29

1,395,952‌

2,350,000

Constellation

Brands,

Inc

2

.875

05/01/30

1,949,202‌

1,700,000

Constellation

Brands,

Inc

2

.250

08/01/31

1,305,903‌

900,000

g

Corp

Lindley

S.A.

4

.625

04/12/23

895,230‌

1,650,000

Diageo

Capital

plc

2

.125

10/24/24

1,566,621‌

2,425,000

Diageo

Capital

plc

2

.375

10/24/29

2,028,039‌

1,150,000

Diageo

Capital

plc

2

.000

04/29/30

921,501‌

1,700,000

g

Grupo

Bimbo

SAB

de

C.V.

4

.700

11/10/47

1,414,009‌

2,000,000

g

NBM

US

Holdings,

Inc

6

.625

08/06/29

1,824,753‌

1,500,000

g

Primo

Water

Holdings,

Inc

4

.375

04/30/29

1,220,146‌

2,250,000

g

Sigma

Alimentos

S.A.

de

C.V.

4

.125

05/02/26

2,023,875‌

5,325,000

g

Ulker

Biskuvi

Sanayi

AS.

6

.950

10/30/25

3,636,975‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

47,909,453‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

1

.7

%

450,000

Abbott

Laboratories

5

.300

05/27/40

449,723‌

4,200,000

Anthem,

Inc

2

.250

05/15/30

3,388,055‌

1,660,000

Becton

Dickinson

&

Co

2

.823

05/20/30

1,389,315‌

1,200,000

Boston

Scientific

Corp

2

.650

06/01/30

995,685‌

1,640,000

Centene

Corp

2

.450

07/15/28

1,335,321‌

6,410,000

Centene

Corp

3

.000

10/15/30

5,076,335‌

2,750,000

g

CHS/Community

Health

Systems,

Inc

8

.000

03/15/26

2,380,915‌

1,250,000

g

CHS/Community

Health

Systems,

Inc

5

.250

05/15/30

870,313‌

1,525,000

Cigna

Corp

3

.200

03/15/40

1,096,304‌

7,450,000

CVS

Health

Corp

1

.750

08/21/30

5,702,502‌

5,175,000

CVS

Health

Corp

4

.780

03/25/38

4,536,933‌

1,400,000

CVS

Health

Corp

2

.700

08/21/40

919,004‌

4,925,000

CVS

Health

Corp

5

.050

03/25/48

4,337,262‌

5,400,000

Encompass

Health

Corp

4

.500

02/01/28

4,625,059‌

9,000,000

HCA,

Inc

3

.500

09/01/30

7,431,480‌

2,075,000

g

HCA,

Inc

3

.625

03/15/32

1,678,752‌

1,320,000

HCA,

Inc

5

.500

06/15/47

1,115,129‌

1,700,000

g

HCA,

Inc

4

.625

03/15/52

1,276,875‌

3,500,000

g

Hologic,

Inc

3

.250

02/15/29

2,862,257‌

1,800,000

Humana,

Inc

3

.950

03/15/27

1,687,550‌

2,000,000

Humana,

Inc

2

.150

02/03/32

1,519,768‌

990,000

g

LifePoint

Health,

Inc

4

.375

02/15/27

818,068‌

3,700,000

g

MPH

Acquisition

Holdings

LLC

5

.500

09/01/28

3,054,110‌

3,375,000

MPT

Operating

Partnership

LP

3

.500

03/15/31

2,349,844‌

375,000

g

Tenet

Healthcare

Corp

4

.625

06/15/28

327,737‌

3,400,000

g

Tenet

Healthcare

Corp

6

.125

10/01/28

2,978,702‌

5,600,000

g

Tenet

Healthcare

Corp

4

.375

01/15/30

4,674,320‌

2,650,000

UnitedHealth

Group,

Inc

2

.950

10/15/27

2,417,394‌

3,625,000

UnitedHealth

Group,

Inc

2

.300

05/15/31

2,916,273‌

1,085,000

UnitedHealth

Group,

Inc

3

.750

10/15/47

833,166‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

75,044,151‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0

.2

%

875,000

Church

&

Dwight

Co,

Inc

2

.300

12/15/31

686,799‌

1,850,000

Church

&

Dwight

Co,

Inc

5

.000

06/15/52

1,704,455‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

267

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HOUSEHOLD

&

PERSONAL

PRODUCTS—continued

$

550,000

Colgate-Palmolive

Co

3

.250

%

08/15/32

$

490,121‌

2,000,000

g

GSK

Consumer

Healthcare

Capital

US

LLC

3

.375

03/24/27

1,813,804‌

3,200,000

g

GSK

Consumer

Healthcare

Capital

US

LLC

3

.625

03/24/32

2,713,838‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

7,409,017‌

INSURANCE

-

0

.7

%

1,550,000

g

Acrisure

LLC

4

.250

02/15/29

1,214,704‌

150,000

Aetna,

Inc

6

.625

06/15/36

152,949‌

53,000

Aflac,

Inc

6

.450

08/15/40

54,432‌

1,000,000

g,i

Alamo

Re

Ltd

7

.250

06/07/25

968,500‌

825,000

g

Alliant

Holdings

Intermediate

LLC

4

.250

10/15/27

704,697‌

325,000

g

AmWINS

Group,

Inc

4

.875

06/30/29

269,770‌

1,250,000

Aon

Corp

2

.800

05/15/30

1,036,373‌

2,425,000

Aon

plc

3

.500

06/14/24

2,365,549‌

500,000

Berkshire

Hathaway

Finance

Corp

2

.875

03/15/32

420,292‌

400,000

Berkshire

Hathaway

Finance

Corp

4

.250

01/15/49

332,421‌

3,895,000

Berkshire

Hathaway

Finance

Corp

2

.850

10/15/50

2,502,569‌

700,000

CNA

Financial

Corp

3

.950

05/15/24

686,478‌

550,000

g

Equitable

Financial

Life

Global

Funding

1

.400

07/07/25

495,315‌

1,690,000

g

Five

Corners

Funding

Trust

II

2

.850

05/15/30

1,391,060‌

7,425,000

Hartford

Financial

Services

Group,

Inc

2

.800

08/19/29

6,263,798‌

250,000

Hartford

Financial

Services

Group,

Inc

4

.300

04/15/43

198,901‌

850,000

Hartford

Financial

Services

Group,

Inc

2

.900

09/15/51

519,198‌

1,521,000

g

Liberty

Mutual

Group,

Inc

4

.569

02/01/29

1,400,946‌

1,750,000

g

Liberty

Mutual

Group,

Inc

3

.951

10/15/50

1,177,435‌

1,750,000

g

Liberty

Mutual

Group,

Inc

5

.500

06/15/52

1,508,471‌

375,000

Marsh

&

McLennan

Cos,

Inc

3

.500

03/10/25

361,847‌

875,000

MetLife,

Inc

3

.600

11/13/25

842,487‌

625,000

MetLife,

Inc

5

.000

07/15/52

569,726‌

3,920,000

MetLife,

Inc

3

.850

N/A‡

3,506,812‌

500,000

Principal

Financial

Group,

Inc

2

.125

06/15/30

391,062‌

500,000

Prudential

Financial,

Inc

3

.905

12/07/47

379,992‌

1,050,000

Reinsurance

Group

of

America,

Inc

3

.900

05/15/29

935,392‌

850,000

Willis

North

America,

Inc

3

.600

05/15/24

825,280‌

TOTAL

INSURANCE

31,476,456‌

MATERIALS

-

1

.9

%

2,650,000

Albemarle

Corp

4

.650

06/01/27

2,540,142‌

1,125,000

g

Alpek

SAB

de

C.V.

4

.250

09/18/29

929,824‌

3,700,000

Amcor

Flexibles

North

America,

Inc

2

.690

05/25/31

2,893,625‌

875,000

g

Anglo

American

Capital

plc

3

.875

03/16/29

751,900‌

1,350,000

g

Anglo

American

Capital

plc

2

.625

09/10/30

1,039,144‌

4,300,000

AngloGold

Ashanti

Holdings

plc

3

.375

11/01/28

3,486,779‌

3,050,000

AngloGold

Ashanti

Holdings

plc

3

.750

10/01/30

2,364,106‌

1,225,000

g

Ardagh

Metal

Packaging

Finance

USA

LLC

3

.250

09/01/28

999,551‌

2,425,000

Ball

Corp

2

.875

08/15/30

1,861,054‌

270,000

Bemis

Co,

Inc

3

.100

09/15/26

248,712‌

1,200,000

Bemis

Co,

Inc

2

.630

06/19/30

964,102‌

5,375,000

Berry

Global,

Inc

1

.570

01/15/26

4,686,062‌

3,125,000

Berry

Global,

Inc

1

.650

01/15/27

2,591,273‌

1,145,000

g

CANPACK

S.A.

3

.125

11/01/25

995,779‌

2,500,000

g

Celulosa

Arauco

y

Constitucion

S.A.

4

.250

04/30/29

2,071,400‌

1,500,000

g

Cemex

SAB

de

C.V.

5

.450

11/19/29

1,340,625‌

1,500,000

Commercial

Metals

Co

4

.125

01/15/30

1,231,524‌

725,000

e,g

Constellium

SE

3

.750

04/15/29

529,309‌

2,000,000

g

Corp

Nacional

del

Cobre

de

Chile

3

.150

01/14/30

1,667,580‌

5,805,000

DowDuPont,

Inc

4

.493

11/15/25

5,702,009‌

1,605,000

DowDuPont,

Inc

4

.725

11/15/28

1,526,302‌

5,000,000

g

FMG

Resources

August

2006

Pty

Ltd

5

.875

04/15/30

4,349,099‌

1,785,000

g

Freeport

Indonesia

PT

5

.315

04/14/32

1,477,087‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

268

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MATERIALS—continued

$

2,500,000

Freeport-McMoRan,

Inc

5

.450

%

03/15/43

$

2,085,750‌

700,000

g

Fresnillo

plc

4

.250

10/02/50

481,250‌

1,850,000

g

GCC

SAB

de

C.V.

3

.614

04/20/32

1,496,169‌

1,250,000

g

Gold

Fields

Orogen

Holdings

BVI

Ltd

6

.125

05/15/29

1,174,096‌

485,000

g

Midwest

Connector

Capital

Co

LLC

4

.625

04/01/29

432,743‌

377,000

Mosaic

Co

4

.875

11/15/41

305,145‌

1,200,000

Newmont

Corp

2

.250

10/01/30

928,259‌

1,665,000

Newmont

Corp

2

.600

07/15/32

1,269,473‌

3,000,000

g

Nova

Chemicals

Corp

4

.875

06/01/24

2,818,860‌

2,500,000

Nutrien

Ltd

2

.950

05/13/30

2,089,618‌

1,920,000

g

OCI

NV

4

.625

10/15/25

1,783,650‌

1,100,000

g

OCP

S.A.

3

.750

06/23/31

830,200‌

1,975,000

g

Orbia

Advance

Corp

SAB

de

C.V.

1

.875

05/11/26

1,668,875‌

2,900,000

g

PolyOne

Corp

5

.750

05/15/25

2,798,355‌

2,575,000

Sasol

Financing

USA

LLC

4

.375

09/18/26

2,246,650‌

4,500,000

g

Sociedad

Quimica

y

Minera

de

Chile

S.A.

3

.500

09/10/51

3,086,865‌

2,200,000

g

Standard

Industries,

Inc

5

.000

02/15/27

1,946,802‌

2,100,000

Suzano

Austria

GmbH

2

.500

09/15/28

1,642,494‌

3,000,000

Suzano

Austria

GmbH

3

.125

01/15/32

2,159,100‌

911,000

g

Tronox,

Inc

4

.625

03/15/29

674,140‌

2,675,000

g

UltraTech

Cement

Ltd

2

.800

02/16/31

2,065,903‌

815,000

g

Unifrax

Escrow

Issuer

Corp

5

.250

09/30/28

625,912‌

534,000

g

Volcan

Cia

Minera

SAA

4

.375

02/11/26

440,550‌

800,000

g

WR

Grace

Holdings

LLC

5

.625

08/15/29

600,000‌

1,000,000

WRKCo,

Inc

4

.900

03/15/29

956,005‌

1,500,000

WRKCo,

Inc

3

.000

06/15/33

1,160,585‌

TOTAL

MATERIALS

84,014,437‌

MEDIA

&

ENTERTAINMENT

-

2

.5

%

875,000

Activision

Blizzard,

Inc

3

.400

09/15/26

825,724‌

1,100,000

Activision

Blizzard,

Inc

1

.350

09/15/30

834,830‌

2,030,000

g

Adani

Electricity

Mumbai

Ltd

3

.867

07/22/31

1,447,598‌

3,985,419

g

Alfa

Desarrollo

S.p.A

4

.550

09/27/51

2,630,376‌

2,500,000

g

Arches

Buyer,

Inc

4

.250

06/01/28

1,950,000‌

1,275,000

Baidu,

Inc

4

.375

05/14/24

1,257,139‌

1,550,000

Baidu,

Inc

1

.625

02/23/27

1,314,807‌

1,500,000

g

BOC

Aviation

USA

Corp

1

.625

04/29/24

1,416,197‌

500,000

g,i

Bonanza

RE

Ltd

SOFR

+

5.750%

9

.031

03/16/25

5,000‌

1,175,000

g

Cable

Onda

S.A.

4

.500

01/30/30

925,009‌

6,000,000

g

CCO

Holdings

LLC

5

.125

05/01/27

5,415,000‌

1,800,000

g

CCO

Holdings

LLC

4

.500

08/15/30

1,423,512‌

2,875,000

Charter

Communications

Operating

LLC

2

.250

01/15/29

2,251,047‌

475,000

Charter

Communications

Operating

LLC

2

.800

04/01/31

359,075‌

5,000,000

Charter

Communications

Operating

LLC

3

.500

03/01/42

3,172,556‌

1,465,000

Charter

Communications

Operating

LLC

5

.125

07/01/49

1,073,899‌

8,150,000

Charter

Communications

Operating

LLC

4

.800

03/01/50

5,879,326‌

5,000,000

Comcast

Corp

4

.150

10/15/28

4,722,316‌

2,975,000

Comcast

Corp

3

.200

07/15/36

2,300,335‌

1,000,000

Comcast

Corp

3

.900

03/01/38

815,197‌

15,185,000

Comcast

Corp

2

.887

11/01/51

9,509,317‌

5,000,000

g

CSC

Holdings

LLC

5

.500

04/15/27

4,400,000‌

1,225,000

g

CT

Trust

5

.125

02/03/32

921,813‌

985,000

g

DIRECTV

Holdings

LLC

5

.875

08/15/27

849,178‌

446,000

Discovery

Communications

LLC

2

.950

03/20/23

442,087‌

1,500,000

DISH

DBS

Corp

5

.000

03/15/23

1,470,465‌

1,300,000

g

Electricidad

Firme

de

Mexico

Holdings

S.A.

de

C.V.

4

.900

11/20/26

1,061,125‌

2,075,000

g

ENN

Clean

Energy

International

Investment

Ltd

3

.375

05/12/26

1,778,004‌

3,000,000

g

Genm

Capital

Labuan

Ltd

3

.882

04/19/31

2,054,018‌

2,785,000

Grupo

Televisa

SAB

6

.625

01/15/40

2,733,149‌

1,275,000

Lamar

Media

Corp

3

.750

02/15/28

1,113,732‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

269

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MEDIA

&

ENTERTAINMENT—continued

$

3,000,000

Lamar

Media

Corp

4

.875

%

01/15/29

$

2,674,029‌

1,000,000

Lamar

Media

Corp

4

.000

02/15/30

837,880‌

825,000

Lamar

Media

Corp

3

.625

01/15/31

648,871‌

1,275,000

g

LCPR

Senior

Secured

Financing

DAC

5

.125

07/15/29

960,160‌

1,250,000

g

Magallanes,

Inc

4

.279

03/15/32

1,028,353‌

6,475,000

g

Magallanes,

Inc

5

.050

03/15/42

4,844,879‌

3,000,000

g

Medco

Laurel

Tree

Pte

Ltd

6

.950

11/12/28

2,327,910‌

1,625,000

g

Meta

Platforms,

Inc

4

.450

08/15/52

1,326,134‌

2,445,000

g

Mexico

Remittances

Funding

Fiduciary

Estate

Management

Sarl

4

.875

01/15/28

2,011,013‌

3,260,000

g

Misc

Capital

Two

Labuan

Ltd

3

.750

04/06/27

2,949,353‌

1,850,000

e,g

Natura

&Co

Luxembourg

Holdings

Sarl

6

.000

04/19/29

1,523,142‌

825,000

g

News

Corp

3

.875

05/15/29

700,310‌

3,500,000

Paramount

Global

6

.375

03/30/62

3,023,645‌

1,525,000

g

Rackspace

Technology

Global,

Inc

3

.500

02/15/28

1,008,406‌

590,000

g

Sirius

XM

Radio,

Inc

3

.125

09/01/26

518,153‌

2,725,000

g

Sirius

XM

Radio,

Inc

4

.000

07/15/28

2,317,831‌

1,575,000

g

Sirius

XM

Radio,

Inc

4

.125

07/01/30

1,280,223‌

800,000

Smithsonian

Institution

0

.974

09/01/23

773,645‌

1,000,000

Smithsonian

Institution

1

.118

09/01/24

934,801‌

1,600,000

Smithsonian

Institution

1

.514

09/01/26

1,423,210‌

1,625,000

Take-Two

Interactive

Software,

Inc

3

.700

04/14/27

1,508,559‌

1,225,000

g

TEGNA,

Inc

4

.750

03/15/26

1,181,880‌

850,000

TEGNA,

Inc

4

.625

03/15/28

784,765‌

1,230,000

Time

Warner

Cable

LLC

5

.875

11/15/40

1,012,553‌

475,000

Time

Warner

Cable

LLC

4

.500

09/15/42

327,943‌

1,275,000

g

Univision

Communications,

Inc

4

.500

05/01/29

1,039,724‌

725,000

g

Univision

Communications,

Inc

7

.375

06/30/30

691,864‌

515,000

ViacomCBS,

Inc

5

.850

09/01/43

410,563‌

125,000

Walt

Disney

Co

7

.625

11/30/28

138,931‌

1,825,000

Weibo

Corp

3

.375

07/08/30

1,339,651‌

TOTAL

MEDIA

&

ENTERTAINMENT

107,900,212‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

1

.0

%

850,000

AbbVie,

Inc

2

.850

05/14/23

840,700‌

2,625,000

AbbVie,

Inc

3

.800

03/15/25

2,542,323‌

8,725,000

AbbVie,

Inc

4

.050

11/21/39

7,018,523‌

1,450,000

AbbVie,

Inc

4

.400

11/06/42

1,204,156‌

580,000

AbbVie,

Inc

4

.450

05/14/46

471,364‌

2,950,000

AbbVie,

Inc

4

.250

11/21/49

2,368,164‌

625,000

AstraZeneca

Finance

LLC

2

.250

05/28/31

507,936‌

6,000,000

AstraZeneca

plc

1

.375

08/06/30

4,630,706‌

1,500,000

g

Avantor

Funding,

Inc

4

.625

07/15/28

1,334,918‌

2,040,000

g

Avantor

Funding,

Inc

3

.875

11/01/29

1,656,888‌

750,000

Bristol-Myers

Squibb

Co

2

.350

11/13/40

500,609‌

1,700,000

Bristol-Myers

Squibb

Co

3

.550

03/15/42

1,329,969‌

1,090,000

Danaher

Corp

2

.800

12/10/51

701,241‌

450,000

Gilead

Sciences,

Inc

4

.000

09/01/36

373,971‌

3,900,000

Gilead

Sciences,

Inc

2

.800

10/01/50

2,408,507‌

900,000

Johnson

&

Johnson

3

.400

01/15/38

748,375‌

1,325,000

Merck

&

Co,

Inc

2

.750

12/10/51

862,954‌

1,450,000

Mylan,

Inc

4

.550

04/15/28

1,280,768‌

3,150,000

g

Organon

Finance   LLC

5

.125

04/30/31

2,580,354‌

6,950,000

Takeda

Pharmaceutical

Co

Ltd

2

.050

03/31/30

5,493,873‌

600,000

Takeda

Pharmaceutical

Co

Ltd

3

.025

07/09/40

424,578‌

3,000,000

Teva

Pharmaceutical

Finance

Netherlands

III

BV

3

.150

10/01/26

2,461,500‌

1,045,000

Teva

Pharmaceutical

Finance

Netherlands

III

BV

4

.750

05/09/27

887,529‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

42,629,906‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

270

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE

-

1

.7

%

$

2,050,000

Agree

LP

2

.000

%

06/15/28

$

1,652,091‌

350,000

Alexandria

Real

Estate

Equities,

Inc

3

.950

01/15/27

330,952‌

450,000

Alexandria

Real

Estate

Equities,

Inc

3

.950

01/15/28

415,518‌

1,650,000

Alexandria

Real

Estate

Equities,

Inc

4

.900

12/15/30

1,560,769‌

1,125,000

Alexandria

Real

Estate

Equities,

Inc

1

.875

02/01/33

790,686‌

875,000

American

Tower

Corp

5

.000

02/15/24

874,512‌

1,425,000

American

Tower

Corp

2

.950

01/15/25

1,348,193‌

475,000

American

Tower

Corp

3

.375

10/15/26

434,025‌

1,200,000

American

Tower

Corp

3

.600

01/15/28

1,064,779‌

1,480,000

American

Tower

Corp

3

.800

08/15/29

1,298,290‌

4,100,000

American

Tower

Corp

2

.900

01/15/30

3,370,232‌

825,000

American

Tower

Corp

2

.100

06/15/30

631,939‌

1,390,000

American

Tower

Corp

1

.875

10/15/30

1,028,637‌

950,000

Brandywine

Operating

Partnership

LP

4

.100

10/01/24

916,596‌

1,750,000

Brixmor

Operating

Partnership

LP

3

.850

02/01/25

1,681,628‌

350,000

Brixmor

Operating

Partnership

LP

2

.250

04/01/28

282,520‌

400,000

Brixmor

Operating

Partnership

LP

2

.500

08/16/31

291,532‌

775,000

Crown

Castle

International

Corp

3

.650

09/01/27

701,573‌

2,025,000

Crown

Castle

International

Corp

2

.250

01/15/31

1,546,280‌

3,525,000

Crown

Castle

International

Corp

2

.100

04/01/31

2,641,807‌

1,775,000

CubeSmart

LP

2

.250

12/15/28

1,441,133‌

1,850,000

g

Cushman

&

Wakefield

US

Borrower

LLC

6

.750

05/15/28

1,715,967‌

625,000

Duke

Realty

LP

2

.875

11/15/29

532,228‌

590,000

Equinix,

Inc

2

.150

07/15/30

452,331‌

2,375,000

Essential

Properties

LP

2

.950

07/15/31

1,734,538‌

1,890,000

Essex

Portfolio

LP

3

.000

01/15/30

1,570,514‌

600,000

Federal

Realty

Investment

Trust

1

.250

02/15/26

527,970‌

4,980,000

g

HAT

Holdings

I

LLC

3

.375

06/15/26

3,996,450‌

1,500,000

Healthcare

Realty

Holdings

LP

3

.875

05/01/25

1,430,633‌

1,500,000

Healthcare

Realty

Holdings

LP

3

.625

01/15/28

1,320,601‌

525,000

Healthcare

Realty

Holdings

LP

2

.400

03/15/30

402,161‌

550,000

Healthcare

Realty

Holdings

LP

2

.050

03/15/31

400,396‌

1,225,000

Healthcare

Trust

of

America

Holdings

LP

3

.500

08/01/26

1,128,626‌

3,055,000

Healthcare

Trust

of

America

Holdings

LP

3

.100

02/15/30

2,501,955‌

375,000

Highwoods

Realty

LP

3

.875

03/01/27

343,941‌

725,000

Highwoods

Realty

LP

4

.125

03/15/28

653,801‌

700,000

Highwoods

Realty

LP

4

.200

04/15/29

612,146‌

3,369,000

Highwoods

Realty

LP

2

.600

02/01/31

2,525,954‌

1,225,000

g

Howard

Hughes

Corp

4

.125

02/01/29

946,313‌

460,000

Hudson

Pacific

Properties

LP

3

.950

11/01/27

410,540‌

1,075,000

Hudson

Pacific

Properties

LP

4

.650

04/01/29

955,045‌

1,400,000

Kennedy-Wilson,

Inc

4

.750

03/01/29

1,068,480‌

1,475,000

Kennedy-Wilson,

Inc

5

.000

03/01/31

1,069,464‌

1,285,000

Life

Storage

LP

2

.400

10/15/31

964,523‌

1,500,000

Mid-America

Apartments

LP

4

.300

10/15/23

1,489,044‌

1,000,000

Mid-America

Apartments

LP

3

.750

06/15/24

977,711‌

850,000

Mid-America

Apartments

LP

4

.000

11/15/25

821,466‌

3,925,000

Mid-America

Apartments

LP

2

.750

03/15/30

3,269,324‌

1,625,000

Mid-America

Apartments

LP

1

.700

02/15/31

1,227,388‌

1,000,000

Mid-America

Apartments

LP

2

.875

09/15/51

624,638‌

550,000

National

Retail

Properties,

Inc

4

.000

11/15/25

525,784‌

600,000

National

Retail

Properties,

Inc

3

.600

12/15/26

554,592‌

875,000

Regency

Centers

LP

3

.900

11/01/25

825,473‌

425,000

Regency

Centers

LP

3

.600

02/01/27

394,789‌

1,650,000

Regency

Centers

LP

2

.950

09/15/29

1,368,466‌

1,700,000

Retail

Properties

of

America,

Inc

4

.750

09/15/30

1,477,593‌

3,500,000

g

SBA

Tower

Trust

1

.631

11/15/26

2,983,440‌

789,000

g

SBA

Tower

Trust

2

.328

01/15/28

663,129‌

603,000

SITE

Centers

Corp

3

.625

02/01/25

569,985‌

3,820,000

SITE

Centers

Corp

4

.250

02/01/26

3,603,700‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

271

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE—continued

$

650,000

SITE

Centers

Corp

4

.700

%

06/01/27

$

599,120‌

400,000

Weingarten

Realty

Investors

4

.450

01/15/24

395,306‌

925,000

Weingarten

Realty

Investors

3

.850

06/01/25

884,445‌

300,000

Weingarten

Realty

Investors

3

.250

08/15/26

277,075‌

650,000

Weyerhaeuser

Co

4

.000

03/09/52

476,016‌

TOTAL

REAL

ESTATE

75,576,753‌

RETAILING

-

0

.7

%

2,670,000

g

Asbury

Automotive

Group,

Inc

4

.625

11/15/29

2,134,318‌

755,000

g

Asbury

Automotive

Group,

Inc

5

.000

02/15/32

581,396‌

1,800,000

AutoNation,

Inc

3

.800

11/15/27

1,592,929‌

250,000

AutoNation,

Inc

2

.400

08/01/31

177,400‌

1,950,000

AutoZone,

Inc

1

.650

01/15/31

1,448,529‌

300,000

Chevron

USA,

Inc

3

.900

11/15/24

295,318‌

1,350,000

Genuine

Parts

Co

2

.750

02/01/32

1,044,835‌

3,900,000

g

JSM

Global

Sarl

4

.750

10/20/30

2,739,750‌

1,225,000

g

Kia

Corp

2

.750

02/14/27

1,084,045‌

925,000

g

L

Brands,

Inc

6

.625

10/01/30

804,750‌

800,000

g

LCM

Investments

Holdings

II

LLC

4

.875

05/01/29

619,493‌

2,175,000

g

Lithia

Motors,

Inc

4

.625

12/15/27

1,889,199‌

1,900,000

g

Magic

Mergeco,

Inc

5

.250

05/01/28

1,333,762‌

790,000

O'Reilly

Automotive,

Inc

3

.550

03/15/26

752,821‌

1,400,000

O'Reilly

Automotive,

Inc

3

.600

09/01/27

1,299,984‌

1,225,000

O'Reilly

Automotive,

Inc

4

.200

04/01/30

1,123,220‌

2,200,000

O'Reilly

Automotive,

Inc

1

.750

03/15/31

1,645,884‌

2,000,000

g

Prosus

NV

3

.832

02/08/51

1,109,844‌

5,000,000

g

Staples,

Inc

7

.500

04/15/26

4,198,050‌

550,000

g

Superior

Plus

LP

4

.500

03/15/29

454,223‌

2,550,000

Target

Corp

2

.350

02/15/30

2,128,152‌

TOTAL

RETAILING

28,457,902‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0

.5

%

5,650,000

g

Broadcom,

Inc

2

.450

02/15/31

4,258,061‌

2,003,000

g

Broadcom,

Inc

3

.469

04/15/34

1,502,759‌

3,736,000

g

Broadcom,

Inc

3

.187

11/15/36

2,555,223‌

3,183,000

g

Broadcom,

Inc

4

.926

05/15/37

2,624,611‌

1,035,000

Intel

Corp

3

.734

12/08/47

768,890‌

700,000

Lam

Research

Corp

3

.750

03/15/26

671,310‌

775,000

Lam

Research

Corp

4

.000

03/15/29

725,152‌

3,595,000

NVIDIA

Corp

2

.000

06/15/31

2,826,829‌

1,425,000

NXP

BV

3

.875

06/18/26

1,329,949‌

1,175,000

NXP

BV

4

.400

06/01/27

1,108,366‌

725,000

NXP

BV

3

.400

05/01/30

604,206‌

1,575,000

NXP

BV

3

.125

02/15/42

1,002,997‌

700,000

Texas

Instruments,

Inc

2

.625

05/15/24

681,709‌

505,000

Texas

Instruments,

Inc

4

.150

05/15/48

430,592‌

2,000,000

TSMC

Arizona

Corp

4

.125

04/22/29

1,884,282‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

22,974,936‌

SOFTWARE

&

SERVICES

-

0

.6

%

2,975,000

Adobe,

Inc

2

.300

02/01/30

2,471,543‌

265,000

g

CA

Magnum

Holdings

5

.375

10/31/26

222,623‌

425,000

g

Camelot

Finance

S.A.

4

.500

11/01/26

384,544‌

690,000

g

Clarivate

Science

Holdings

Corp

3

.875

07/01/28

569,112‌

2,135,000

Fiserv,

Inc

3

.500

07/01/29

1,857,533‌

900,000

g

Gartner,

Inc

3

.750

10/01/30

736,780‌

1,413,000

g

j2

Global,

Inc

4

.625

10/15/30

1,158,660‌

3,000,000

Microsoft

Corp

2

.400

08/08/26

2,777,052‌

1,165,000

Microsoft

Corp

3

.300

02/06/27

1,110,155‌

1,149,000

Microsoft

Corp

2

.525

06/01/50

750,691‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

272

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SOFTWARE

&

SERVICES—continued

$

2,270,000

g

NortonLifeLock,

Inc

6

.750

%

09/30/27

$

2,178,133‌

2,830,000

g

Open

Text

Corp

3

.875

12/01/29

2,179,751‌

550,000

g

Open

Text

Holdings,

Inc

4

.125

02/15/30

439,236‌

1,300,000

Roper

Technologies,

Inc

1

.400

09/15/27

1,075,490‌

4,100,000

Roper

Technologies,

Inc

2

.000

06/30/30

3,139,215‌

3,525,000

salesforce.com,

Inc

2

.700

07/15/41

2,426,791‌

550,000

Visa,

Inc

2

.700

04/15/40

397,595‌

TOTAL

SOFTWARE

&

SERVICES

23,874,904‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0

.6

%

1,470,000

Amphenol

Corp

2

.800

02/15/30

1,235,927‌

5,575,000

Apple,

Inc

2

.450

08/04/26

5,140,611‌

10,350,000

Apple,

Inc

2

.050

09/11/26

9,413,353‌

1,000,000

Apple,

Inc

3

.850

05/04/43

839,002‌

640,000

Apple,

Inc

4

.650

02/23/46

598,472‌

290,000

Corning,

Inc

4

.375

11/15/57

215,240‌

1,805,000

Dell

International

LLC

5

.300

10/01/29

1,681,791‌

875,000

Flex

Ltd

4

.875

06/15/29

790,824‌

4,125,000

g

Imola

Merger

Corp

4

.750

05/15/29

3,480,056‌

1,500,000

e,g

Lenovo

Group

Ltd

3

.421

11/02/30

1,133,686‌

975,000

g

Sensata

Technologies

BV

4

.000

04/15/29

806,802‌

450,000

Tyco

Electronics

Group

S.A.

3

.700

02/15/26

433,029‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

25,768,793‌

TELECOMMUNICATION

SERVICES

-

2

.2

%

3,825,000

g

Altice

France

S.A.

5

.125

07/15/29

2,857,696‌

3,075,000

g

America

Movil

SAB

de

C.V.

5

.375

04/04/32

2,645,976‌

6,563,000

AT&T,

Inc

2

.550

12/01/33

4,858,874‌

2,085,000

AT&T,

Inc

4

.500

05/15/35

1,805,763‌

1,700,000

AT&T,

Inc

3

.500

06/01/41

1,224,480‌

13,725,000

AT&T,

Inc

3

.550

09/15/55

9,015,074‌

4,917,000

AT&T,

Inc

3

.800

12/01/57

3,321,653‌

7,083,000

AT&T,

Inc

3

.650

09/15/59

4,589,079‌

5,000,000

g

Bharti

Airtel

Ltd

3

.250

06/03/31

4,022,300‌

3,200,000

g

C&W

Senior

Financing

Designated

Activity

Co

6

.875

09/15/27

2,594,598‌

2,575,000

g

Empresa

Nacional

de

Telecomunicaciones

S.A.

3

.050

09/14/32

1,892,625‌

1,925,000

g

Iliad

Holding

SASU

6

.500

10/15/26

1,683,220‌

2,268,000

g

Millicom

International

Cellular

S.A.

5

.125

01/15/28

1,890,055‌

1,175,000

g

Millicom

International

Cellular

S.A.

4

.500

04/27/31

837,704‌

2,150,000

g

MTN

Mauritius

Investment

Ltd

6

.500

10/13/26

2,062,507‌

370,000

Orange

S.A.

5

.375

01/13/42

346,158‌

1,875,000

Telefonica

Emisiones

SAU

4

.103

03/08/27

1,734,781‌

1,150,000

Telefonica

Emisiones

SAU

4

.895

03/06/48

837,430‌

3,000,000

g

Telefonica

Moviles

Chile

S.A.

3

.537

11/18/31

2,355,000‌

800,000

T-Mobile

USA,

Inc

2

.250

02/15/26

715,824‌

10,850,000

T-Mobile

USA,

Inc

2

.625

02/15/29

8,958,194‌

8,650,000

T-Mobile

USA,

Inc

3

.875

04/15/30

7,672,685‌

750,000

T-Mobile

USA,

Inc

3

.000

02/15/41

501,256‌

725,000

T-Mobile

USA,

Inc

4

.500

04/15/50

580,402‌

3,000,000

T-Mobile

USA,

Inc

3

.300

02/15/51

1,954,496‌

950,000

Verizon

Communications,

Inc

1

.680

10/30/30

711,961‌

750,000

Verizon

Communications,

Inc

1

.750

01/20/31

562,473‌

3,050,000

Verizon

Communications,

Inc

2

.550

03/21/31

2,435,206‌

1,158,000

Verizon

Communications,

Inc

2

.355

03/15/32

887,984‌

13,850,000

Verizon

Communications,

Inc

2

.650

11/20/40

9,026,829‌

5,335,000

g

Vmed

O2

UK

Financing

I

plc

4

.750

07/15/31

4,115,931‌

2,850,000

Vodafone

Group

plc

4

.375

02/19/43

2,180,125‌

2,620,000

Vodafone

Group

plc

4

.250

09/17/50

1,875,302‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

273

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TELECOMMUNICATION

SERVICES—continued

$

6,000,000

Vodafone

Group

plc

4

.125

%

06/04/81

$

4,155,000‌

TOTAL

TELECOMMUNICATION

SERVICES

96,908,641‌

TRANSPORTATION

-

0

.6

%

3,600,000

g

Adani

Ports

&

Special

Economic

Zone

Ltd

3

.100

02/02/31

2,586,782‌

3,000,000

g

AerCap

Global

Aviation

6

.500

06/15/45

2,737,500‌

1,800,000

Burlington

Northern

Santa

Fe

LLC

3

.050

02/15/51

1,224,125‌

5,500,000

Canadian

Pacific

Railway

Co

2

.050

03/05/30

4,409,140‌

750,000

Canadian

Pacific

Railway

Co

3

.100

12/02/51

492,338‌

2,750,000

g

Cargo

Aircraft

Management,

Inc

4

.750

02/01/28

2,366,952‌

1,990,000

CSX

Corp

3

.250

06/01/27

1,829,448‌

700,000

CSX

Corp

3

.800

03/01/28

656,518‌

3,295,000

CSX

Corp

4

.250

03/15/29

3,105,480‌

1,000,000

g

DP

World

Ltd

5

.625

09/25/48

870,119‌

2,235,000

g

First

Student

Bidco,

Inc

4

.000

07/31/29

1,810,800‌

3,000,000

g

Grupo

Aeromexico

SAB

de

C.V.

8

.500

03/17/27

2,624,847‌

727,859

g

Lima

Metro

Line

2

Finance

Ltd

4

.350

04/05/36

620,500‌

1,550,000

Union

Pacific

Corp

2

.891

04/06/36

1,181,097‌

1,880,000

Union

Pacific

Corp

3

.839

03/20/60

1,395,983‌

TOTAL

TRANSPORTATION

27,911,629‌

UTILITIES

-

3

.0

%

1,525,000

g

Access

Bank

plc

6

.125

09/21/26

1,141,565‌

325,000

AEP

Transmission

Co

LLC

3

.100

12/01/26

303,126‌

350,000

AEP

Transmission

Co

LLC

4

.000

12/01/46

274,121‌

1,585,000

AEP

Transmission

Co

LLC

2

.750

08/15/51

990,317‌

1,400,000

g

Aeropuerto

Internacional

de

Tocumen

S.A.

4

.000

08/11/41

1,036,600‌

700,000

Alabama

Power

Co

4

.150

08/15/44

567,097‌

1,350,000

Ameren

Corp

1

.750

03/15/28

1,114,330‌

525,000

American

Water

Capital

Corp

3

.000

12/01/26

481,886‌

1,927,000

American

Water

Capital

Corp

2

.800

05/01/30

1,628,428‌

5,000,000

American

Water

Capital

Corp

2

.300

06/01/31

3,963,260‌

500,000

American

Water

Capital

Corp

4

.000

12/01/46

390,092‌

900,000

American

Water

Capital

Corp

3

.750

09/01/47

675,372‌

400,000

AmeriGas

Partners

LP

5

.875

08/20/26

362,465‌

3,100,000

Atmos

Energy

Corp

1

.500

01/15/31

2,330,751‌

250,000

Atmos

Energy

Corp

4

.125

10/15/44

202,246‌

1,325,000

Baltimore

Gas

&

Electric

Co

3

.750

08/15/47

1,023,436‌

2,250,000

g

Becle

SAB

de

C.V.

2

.500

10/14/31

1,741,500‌

7,100,000

Berkshire

Hathaway

Energy

Co

1

.650

05/15/31

5,367,471‌

925,000

Black

Hills

Corp

4

.250

11/30/23

921,020‌

725,000

CenterPoint

Energy

Houston

Electric

LLC

3

.000

03/01/32

613,563‌

300,000

CenterPoint

Energy

Resources

Corp

6

.250

02/01/37

307,294‌

500,000

g,i

Citrus

Re

Ltd

SOFR

+

5.100%

5

.100

06/07/25

493,000‌

525,000

g

Clearway

Energy

Operating

LLC

4

.750

03/15/28

467,460‌

1,000,000

CMS

Energy

Corp

3

.600

11/15/25

944,475‌

3,050,000

CMS

Energy

Corp

4

.750

06/01/50

2,577,250‌

1,900,000

g

Colbun

S.A.

3

.150

01/19/32

1,451,650‌

200,000

Commonwealth

Edison

Co

5

.900

03/15/36

205,068‌

1,650,000

Commonwealth

Edison

Co

2

.750

09/01/51

1,038,008‌

1,290,000

Consumers

Energy

Co

2

.650

08/15/52

798,934‌

1,750,000

Consumers

Energy

Co

4

.200

09/01/52

1,451,051‌

755,000

e

Dominion

Energy,

Inc

2

.250

08/15/31

588,718‌

3,375,000

Dominion

Energy,

Inc

3

.300

04/15/41

2,433,521‌

750,000

DTE

Electric

Co

3

.650

03/01/52

566,288‌

250,000

Duke

Energy

Corp

3

.300

06/15/41

174,350‌

875,000

Duke

Energy

Corp

3

.750

09/01/46

619,632‌

5,000,000

Duke

Energy

Florida

LLC

3

.400

10/01/46

3,523,133‌

2,525,000

g

Empresas

Publicas

de

Medellin

ESP

4

.250

07/18/29

1,831,433‌

2,000,000

Enel

Chile

S.A.

4

.875

06/12/28

1,850,926‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

274

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

4,900,000

g

EnfraGen

Energia

Sur

S.A.

5

.375

%

12/30/30

$

2,913,981‌

3,450,000

g

Eskom

Holdings

SOC

Ltd

8

.450

08/10/28

2,920,820‌

6,775,000

Exelon

Corp

4

.050

04/15/30

6,140,563‌

2,025,000

g

Ferrellgas

Escrow

LLC

5

.375

04/01/26

1,782,000‌

2,225,000

g

Ferrellgas

Escrow

LLC

5

.875

04/01/29

1,825,156‌

1,270,000

Florida

Power

&

Light

Co

3

.990

03/01/49

1,026,946‌

UGX

6,000,000,000

†,g

ICBC

Standard

Bank

plc

14

.250

06/26/34

1,280,114‌

750,000

Indiana

Michigan

Power

Co

3

.750

07/01/47

551,915‌

1,140,000

Indiana

Michigan

Power

Co

3

.250

05/01/51

761,107‌

2,000,000

g

Israel

Electric

Corp

Ltd

4

.250

08/14/28

1,850,942‌

1,250,000

g

Israel

Electric

Corp

Ltd

3

.750

02/22/32

1,074,933‌

1,525,000

g

Kallpa

Generacion

SA

4

.125

08/16/27

1,323,121‌

2,250,000

g

Korea

Electric

Power

Corp

4

.000

06/14/27

2,132,101‌

2,400,000

g

Korea

Southern

Power

Co

Ltd

0

.750

01/27/26

2,097,888‌

775,000

MidAmerican

Energy

Co

3

.650

04/15/29

714,578‌

1,550,000

MidAmerican

Energy

Co

3

.650

08/01/48

1,172,499‌

1,000,000

Nevada

Power

Co

5

.450

05/15/41

904,084‌

5,440,000

NextEra

Energy

Capital

Holdings,

Inc

2

.250

06/01/30

4,339,978‌

50,000

g

NextEra

Energy

Operating

Partners

LP

4

.250

09/15/24

47,750‌

8,135,000

NiSource,

Inc

1

.700

02/15/31

6,019,720‌

1,400,000

Northern

States

Power

Co

3

.600

09/15/47

1,053,395‌

1,955,000

g

NRG

Energy,

Inc

2

.450

12/02/27

1,600,456‌

1,350,000

NRG

Energy,

Inc

5

.750

01/15/28

1,245,889‌

500,000

NSTAR

Electric

Co

3

.950

04/01/30

464,990‌

1,550,000

Ohio

Power

Co

4

.150

04/01/48

1,240,994‌

1,365,000

Ohio

Power

Co

4

.000

06/01/49

1,048,297‌

575,000

ONE

Gas,

Inc

3

.610

02/01/24

564,028‌

600,000

g

Pattern

Energy

Operations

LP

4

.500

08/15/28

520,170‌

825,000

PECO

Energy

Co

3

.000

09/15/49

544,142‌

2,325,000

PECO

Energy

Co

2

.800

06/15/50

1,494,423‌

2,000,000

g

Perusahaan

Listrik

Negara

PT

4

.125

05/15/27

1,850,220‌

1,800,000

g

Perusahaan

Listrik

Negara

PT

5

.450

05/21/28

1,715,994‌

1,475,000

†,g

Phosagro

OAO

Via

Phosagro

Bond

Funding

DAC

2

.600

09/16/28

759,625‌

50,000

Potomac

Electric

Power

Co

7

.900

12/15/38

59,172‌

2,500,000

g

Promigas

S.A.

ESP

3

.750

10/16/29

1,932,973‌

4,000,000

Public

Service

Co

of

Colorado

1

.875

06/15/31

3,123,946‌

550,000

Public

Service

Co

of

Colorado

4

.750

08/15/41

482,525‌

1,410,000

Public

Service

Co

of

Colorado

4

.050

09/15/49

1,144,341‌

3,200,000

e,g

Rumo

Luxembourg

Sarl

4

.200

01/18/32

2,483,232‌

1,994,000

g

Saka

Energi

Indonesia

PT

4

.450

05/05/24

1,834,506‌

8,400,000

Sempra

Energy

4

.875

N/A‡

7,812,000‌

2,349,042

g

Solar

Star

Funding

LLC

3

.950

06/30/35

2,171,727‌

1,325,000

Southern

Co

4

.400

07/01/46

1,034,570‌

75,000

Southern

Co

Gas

Capital

Corp

3

.875

11/15/25

71,768‌

625,000

Southern

Co

Gas

Capital

Corp

4

.400

06/01/43

498,498‌

425,000

Southern

Co

Gas

Capital

Corp

3

.950

10/01/46

311,776‌

1,612,658

g

UEP

Penonome

II

S.A.

6

.500

10/01/38

1,386,886‌

650,000

Virginia

Electric

&

Power

Co

2

.950

11/15/26

598,898‌

650,000

Virginia

Electric

&

Power

Co

3

.500

03/15/27

609,048‌

775,000

Virginia

Electric

&

Power

Co

3

.800

09/15/47

590,604‌

850,000

Wisconsin

Power

&

Light

Co

4

.100

10/15/44

657,561‌

215,000

Xcel

Energy,

Inc

4

.800

09/15/41

186,152‌

TOTAL

UTILITIES

128,423,839‌

TOTAL

CORPORATE

BONDS

1,620,644,635‌

(Cost

$1,950,448,095)

GOVERNMENT

BONDS

-

38

.5

%

FOREIGN

GOVERNMENT

BONDS

-

2

.4

%

750,000

g

African

Export-Import

Bank

2

.634

05/17/26

650,821‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

275

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

2,075,000

g

Angolan

Government

International

Bond

8

.750

%

04/14/32

$

1,534,072‌

3,325,000

g

Arab

Petroleum

Investments

Corp

4

.125

09/18/23

3,306,336‌

INR

70,000,000

Asian

Development

Bank

6

.200

10/06/26

823,896‌

550,000

g

Banque

Ouest

Africaine

de

Developpement

5

.000

07/27/27

499,173‌

3,000,000

g

Banque

Ouest

Africaine

de

Developpement

4

.700

10/22/31

2,400,861‌

EUR

1,575,000

g

Banque

Ouest

Africaine

de

Developpement

2

.750

01/22/33

1,117,622‌

287,000

g

Barbados

Government

International

Bond

6

.500

10/01/29

252,507‌

3,660,000

g

Bermuda

Government

International

Bond

4

.750

02/15/29

3,515,710‌

1,500,000

g

BNG

Bank

NV

1

.500

10/16/24

1,417,912‌

1,500,000

Brazilian

Government

International

Bond

4

.750

01/14/50

1,020,180‌

3,575,000

e

Chile

Government

International

Bond

2

.550

01/27/32

2,804,157‌

CNY

3,250,000

China

Government

International

Bond

3

.270

11/19/30

476,345‌

CNY

3,300,000

China

Government

International

Bond

3

.810

09/14/50

512,956‌

3,000,000

Colombia

Government

International

Bond

3

.250

04/22/32

2,027,596‌

1,500,000

Colombia

Government

International

Bond

5

.000

06/15/45

907,947‌

1,850,000

g

Costa

Rica

Government

International

Bond

5

.625

04/30/43

1,314,230‌

750,000

g

Development

Bank

of

Japan,

Inc

0

.500

03/04/24

708,515‌

DOP

160,000,000

g

Dominican

Republic

Government

International

Bond

12

.000

03/05/32

2,867,267‌

2,250,000

g

Dominican

Republic

Government

International

Bond

4

.875

09/23/32

1,691,575‌

3,725,000

g

Dominican

Republic

Government

International

Bond

6

.500

02/15/48

2,743,424‌

170,283

g

Ecuador

Government

International

Bond

0

.000

07/31/30

48,843‌

928,125

g

Ecuador

Government

International

Bond

(Step

Bond)

5

.000

07/31/30

436,977‌

650,162

g

Ecuador

Government

International

Bond

(Step

Bond)

1

.000

07/31/35

213,970‌

EUR

1,400,000

g

Egypt

Government

International

Bond

5

.625

04/16/30

793,441‌

1,500,000

g

Egypt

Government

International

Bond

7

.053

01/15/32

903,750‌

2,475,000

g

Egypt

Government

International

Bond

8

.500

01/31/47

1,372,254‌

2,250,000

g

Egypt

Government

International

Bond

8

.875

05/29/50

1,246,531‌

1,200,000

g

El

Salvador

Government

International

Bond

7

.625

02/01/41

379,083‌

509,660

†

European

Bank

for

Reconstruction

&

Development

10

.000

02/28/23

428,782‌

1,375,000

g

Export-Import

Bank

of

India

3

.875

02/01/28

1,244,897‌

2,625,000

g

Export-Import

Bank

of

India

2

.250

01/13/31

1,953,702‌

2,200,000

g

Ghana

Government

International

Bond

8

.125

03/26/32

818,884‌

875,000

g

Guatemala

Government

International

Bond

4

.375

06/05/27

800,727‌

1,200,000

g

Guatemala

Government

International

Bond

6

.125

06/01/50

983,683‌

725,000

g

Hungary

Government

International

Bond

5

.250

06/16/29

654,118‌

425,000

g

Hungary

Government

International

Bond

2

.125

09/22/31

290,501‌

225,000

Indonesia

Government

International

Bond

3

.550

03/31/32

194,035‌

1,900,000

g

Indonesia

Government

International

Bond

4

.625

04/15/43

1,603,751‌

1,615,625

g

Iraq

Government

International

Bond

5

.800

01/15/28

1,323,051‌

EUR

125,000

g

Ivory

Coast

Government

International

Bond

4

.875

01/30/32

81,737‌

940,417

g

Ivory

Coast

Government

International

Bond

(Step

Bond)

5

.750

12/31/32

800,877‌

3,025,000

Jamaica

Government

International

Bond

8

.000

03/15/39

3,307,664‌

2,500,000

g

Japan

Finance

Organization

for

Municipalities

3

.000

03/12/24

2,444,243‌

950,000

g

Jordan

Government

International

Bond

4

.950

07/07/25

874,925‌

2,500,000

g

Kenya

Government

International

Bond

7

.000

05/22/27

1,917,281‌

575,000

g

Kenya

Government

International

Bond

6

.300

01/23/34

349,824‌

1,560,000

g

Kommunalbanken

AS.

2

.750

02/05/24

1,527,301‌

1,500,000

g

Korea

Housing

Finance

Corp

3

.000

10/31/22

1,498,470‌

MYR

3,800,000

Malaysia

Government

Bond

3

.828

07/05/34

754,783‌

MXN

18,000,000

Mexican

Bonos

5

.750

03/05/26

784,289‌

MXN

16,300,000

Mexican

Bonos

8

.500

11/18/38

729,908‌

525,000

e

Mexico

Government

International

Bond

3

.250

04/16/30

437,723‌

1,859,000

Mexico

Government

International

Bond

6

.050

01/11/40

1,719,184‌

3,000,000

Mexico

Government

International

Bond

4

.280

08/14/41

2,182,012‌

500,000

g

Mongolia

Government

International

Bond

5

.125

04/07/26

392,078‌

1,025,000

g

Morocco

Government

International

Bond

3

.000

12/15/32

715,142‌

2,575,000

g

Morocco

Government

International

Bond

5

.500

12/11/42

1,885,033‌

525,000

g

Morocco

Government

International

Bond

4

.000

12/15/50

297,374‌

300,000

g

Nigeria

Government

International

Bond

6

.500

11/28/27

216,553‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

276

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

850,000

g,k

Nigeria

Government

International

Bond

8

.375

%

03/24/29

$

605,965‌

1,250,000

g

Nigeria

Government

International

Bond

7

.375

09/28/33

752,760‌

1,500,000

g

Oman

Government

International

Bond

7

.375

10/28/32

1,496,621‌

400,000

g

Oman

Sovereign

Sukuk

Co

4

.875

06/15/30

381,332‌

450,000

e,g

Pakistan

Global

Sukuk

Programme

Co

Ltd

7

.950

01/31/29

314,460‌

1,800,000

Panama

Bonos

del

Tesoro

3

.362

06/30/31

1,566,000‌

1,475,000

g

Paraguay

Government

International

Bond

5

.400

03/30/50

1,084,409‌

990,000

k

Philippine

Government

International

Bond

4

.200

03/29/47

765,766‌

1,836,781

g

Provincia

de

Buenos

Aires

(Step

Bond)

3

.900

09/01/37

569,402‌

1,500,000

g

Provincia

de

Mendoza

Argentina

(Step

Bond)

4

.250

03/19/29

1,036,133‌

2,600,000

g

Qatar

Government

International

Bond

4

.400

04/16/50

2,281,751‌

5,000,000

Republic

of

Italy

Government

International

Bond

4

.000

10/17/49

3,552,594‌

UZS

5,320,000,000

g

Republic

of

Uzbekistan

Bond

14

.500

11/25/23

464,030‌

2,150,000

g

Republic

of

Uzbekistan

International

Bond

4

.750

02/20/24

2,020,467‌

UZS

5,708,925,000

g

Republic

of

Uzbekistan

International

Bond

14

.000

07/19/24

493,353‌

1,820,000

g

Romanian

Government

International

Bond

3

.000

02/27/27

1,533,802‌

1,000,000

g

Romanian

Government

International

Bond

5

.250

11/25/27

903,922‌

1,425,000

g

Romanian

Government

International

Bond

4

.000

02/14/51

790,509‌

3,150,000

g

Rwanda

International

Government

Bond

5

.500

08/09/31

2,278,922‌

2,000,000

g

Saudi

Government

International

Bond

3

.750

01/21/55

1,475,604‌

1,225,000

g

Serbia

International

Bond

2

.125

12/01/30

798,969‌

1,500,000

South

Africa

Government

International

Bond

4

.300

10/12/28

1,247,195‌

ZAR

9,000,000

South

Africa

Government

International

Bond

7

.000

02/28/31

382,902‌

ZAR

9,300,000

South

Africa

Government

International

Bond

8

.750

01/31/44

388,168‌

2,150,000

e

South

Africa

Government

International

Bond

5

.375

07/24/44

1,376,902‌

2,400,000

State

of

Israel

3

.800

05/13/60

1,815,827‌

THB

18,500,000

Thailand

Government

International

Bond

2

.875

12/17/28

487,944‌

THB

18,500,000

Thailand

Government

International

Bond

3

.300

06/17/38

453,611‌

2,500,000

g

Turkiye

Ihracat

Kredi

Bankasi

AS.

5

.750

07/06/26

2,064,994‌

1,250,000

g

Ukraine

Government

International

Bond

6

.876

05/21/31

228,425‌

EUR

850,000

g

Ukraine

Government

International

Bond

4

.375

01/27/32

151,197‌

1,500,000

†,g

Zambia

Government

International

Bond

8

.500

04/14/24

711,900‌

TOTAL

FOREIGN

GOVERNMENT

BONDS

105,676,319‌

MORTGAGE

BACKED

-

19

.9

%

5,690,000

g,i

Connecticut

Avenue

Securities

Trust

4

.181

12/25/41

5,195,587‌

3,000,000

g,i

Connecticut

Avenue

Securities

Trust

6

.781

01/25/42

2,695,007‌

6,810,000

g,i

Connecticut

Avenue

Securities

Trust

5

.381

03/25/42

6,395,371‌

5,435,000

g,i

Connecticut

Avenue

Securities

Trust

6

.349

03/25/42

5,235,757‌

11,400,000

g,i

Connecticut

Avenue

Securities

Trust

6

.131

05/25/42

10,824,152‌

6,905,000

g,i

Connecticut

Avenue

Securities

Trust

6

.955

06/25/42

6,848,893‌

1,527,902

i

Federal

Home

Loan

Mortgage

Corp

(FHLMC)

LIBOR

1

M

+

5.920%

3

.102

03/15/44

137,485‌

5,171,276

FHLMC

4

.000

10/01/47

4,900,862‌

253,192

FHLMC

4

.000

06/01/48

239,528‌

3,234,622

i

FHLMC

LIBOR

1

M

+

9.920%

5

.412

06/15/48

3,018,526‌

165,104

FHLMC

4

.000

07/01/48

156,062‌

2,324,775

i

FHLMC

LIBOR

1

M

+

9.840%

5

.332

10/15/48

2,115,880‌

41,293,897

FHLMC

3

.000

11/01/49

36,569,324‌

7,995,582

FHLMC

2

.000

09/25/50

942,238‌

15,221,663

FHLMC

2

.500

02/25/51

2,439,419‌

6,332,076

FHLMC

3

.000

11/01/51

5,610,272‌

4,056,365

FHLMC

3

.000

11/01/51

3,569,092‌

785,379

FHLMC

3

.000

11/01/51

699,426‌

1,136,065

FHLMC

3

.000

11/01/51

1,006,562‌

15,547,632

FHLMC

2

.000

02/01/52

12,648,552‌

16,655,886

FHLMC

2

.500

02/01/52

14,074,375‌

15,196,064

FHLMC

2

.500

03/01/52

12,831,311‌

18,665,371

FHLMC

2

.500

03/01/52

15,718,353‌

1,570,430

FHLMC

3

.000

04/01/52

1,374,643‌

7,191,952

FHLMC

4

.500

06/01/52

6,870,769‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

277

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

6,907,243

FHLMC

4

.500

%

07/01/52

$

6,598,775‌

1,348,948

FHLMC

4

.000

08/25/52

1,200,897‌

360

Federal

Home

Loan

Mortgage

Corp

Gold

(FGLMC)

8

.000

01/01/31

362‌

122,137

FGLMC

7

.000

12/01/33

127,683‌

21,746

FGLMC

4

.500

10/01/34

21,154‌

34,951

FGLMC

7

.000

05/01/35

36,184‌

1,097,278

FGLMC

5

.000

06/01/36

1,107,081‌

441,558

FGLMC

4

.500

10/01/44

428,446‌

68,503

FGLMC

4

.500

11/01/44

66,466‌

120,369

FGLMC

4

.500

11/01/44

117,316‌

65,782

FGLMC

4

.500

12/01/44

64,043‌

89,959

FGLMC

4

.500

12/01/44

87,723‌

576,737

FGLMC

3

.500

04/01/45

530,307‌

2,182,991

FGLMC

3

.500

08/01/45

2,015,358‌

1,221,525

FGLMC

3

.500

10/01/45

1,123,177‌

2,763,889

FGLMC

4

.000

12/01/45

2,635,640‌

1,416,183

FGLMC

4

.500

06/01/47

1,391,043‌

1,436,102

FGLMC

4

.000

09/01/47

1,365,310‌

1,562,556

FGLMC

3

.500

12/01/47

1,430,928‌

1,171,456

FGLMC

4

.000

07/01/48

1,108,552‌

8,781,762

FGLMC

4

.500

08/01/48

8,572,049‌

522

Federal

National

Mortgage

Association

(FNMA)

9

.000

11/01/25

532‌

8,034

FNMA

7

.000

05/01/26

8,118‌

26,476

FNMA

7

.000

07/25/26

26,930‌

843

FNMA

7

.500

01/01/29

862‌

391

FNMA

7

.500

02/01/30

402‌

117,858

FNMA

6

.500

12/01/31

120,689‌

250,992

FNMA

6

.000

04/01/32

254,179‌

1,179,904

FNMA

3

.500

05/01/32

1,122,343‌

141,980

FNMA

7

.000

07/01/32

148,255‌

50,757

FNMA

7

.000

07/01/32

52,227‌

32,892

FNMA

7

.000

07/01/32

34,429‌

1,314,334

FNMA

3

.500

11/01/32

1,250,064‌

32,855

FNMA

4

.500

10/01/33

32,130‌

24,764

FNMA

6

.000

03/01/34

24,991‌

1,455,636

FNMA

5

.000

05/01/35

1,467,001‌

24,155

FNMA

5

.000

06/25/35

24,133‌

846,518

FNMA

5

.000

10/01/35

853,172‌

634,234

FNMA

5

.000

02/01/36

638,054‌

805,289

FNMA

6

.500

08/01/37

831,437‌

4,614,753

FNMA

3

.000

09/01/37

4,287,956‌

46,537

FNMA

6

.000

09/01/37

47,263‌

6,450,000

FNMA

3

.500

10/01/37

6,100,788‌

10,830,000

h

FNMA

4

.000

10/25/37

10,447,566‌

5,420,000

h

FNMA

4

.500

10/25/37

5,322,609‌

589,948

FNMA

5

.500

11/01/38

609,402‌

464,733

FNMA

5

.500

03/01/39

479,560‌

465,481

FNMA

6

.000

09/01/39

489,048‌

5,968,193

FNMA

3

.000

05/01/40

5,321,932‌

2,009,886

FNMA

3

.500

05/01/40

1,861,592‌

220,433

FNMA

5

.000

09/01/40

222,167‌

394,747

FNMA

5

.000

05/01/41

397,866‌

12,470,688

FNMA

2

.000

03/01/42

10,422,649‌

2,640,771

FNMA

4

.000

09/01/42

2,507,228‌

379,219

†,i

FNMA

2

.610

12/25/42

175,540‌

2,274,596

i

FNMA

LIBOR

1

M

+

5.950%

2

.866

09/25/43

229,083‌

2,143,515

FNMA

4

.000

01/01/44

2,040,342‌

718,087

FNMA

4

.500

02/01/44

698,589‌

164,771

FNMA

4

.500

03/01/44

161,426‌

622,797

FNMA

4

.500

06/01/44

606,394‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

278

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

1,916,667

FNMA

4

.500

%

10/01/44

$

1,866,230‌

503,211

FNMA

5

.000

11/01/44

507,174‌

479,558

FNMA

4

.000

01/01/45

454,004‌

187,546

FNMA

4

.500

03/01/45

182,603‌

1,404,389

FNMA

3

.500

05/01/45

1,292,295‌

1,535,289

FNMA

4

.000

12/01/45

1,458,957‌

650,326

FNMA

3

.500

01/01/46

597,420‌

3,424,138

FNMA

4

.000

01/01/46

3,252,484‌

439,519

FNMA

4

.000

04/01/46

416,184‌

308,325

FNMA

3

.500

06/01/46

283,253‌

3,483,448

FNMA

3

.500

07/01/46

3,200,115‌

4,367,186

FNMA

3

.500

07/01/46

4,011,452‌

77,060

FNMA

3

.000

08/01/46

68,478‌

1,620,620

FNMA

3

.000

10/01/46

1,401,778‌

1,188,491

FNMA

3

.500

10/01/46

1,089,912‌

7,594,333

FNMA

3

.500

01/01/47

6,950,233‌

1,571,230

FNMA

4

.500

05/01/47

1,539,439‌

1,237,808

FNMA

3

.500

11/01/47

1,137,037‌

5,103,751

FNMA

4

.000

12/01/47

4,811,937‌

10,562,238

FNMA

3

.500

01/01/48

9,652,594‌

5,279,365

FNMA

4

.500

01/01/48

5,148,015‌

1,095,127

FNMA

4

.500

02/01/48

1,067,885‌

1,912,262

FNMA

4

.000

03/01/48

1,806,932‌

4,347,496

FNMA

4

.500

03/01/48

4,239,385‌

3,831,727

FNMA

4

.500

05/01/48

3,736,484‌

2,788,172

FNMA

4

.500

05/01/48

2,718,835‌

1,979,234

FNMA

5

.000

08/01/48

1,958,230‌

1,281

FNMA

3

.000

05/01/49

1,108‌

5,488,207

FNMA

2

.000

08/25/50

774,344‌

14,393,055

FNMA

2

.500

11/25/50

2,128,098‌

4,759,387

FNMA

3

.000

12/25/50

747,988‌

86,405

FNMA

3

.000

02/25/51

17,777‌

32,553,828

FNMA

2

.000

04/01/51

26,506,973‌

3,585,819

FNMA

3

.000

09/01/51

3,156,721‌

5,274,665

FNMA

2

.500

11/25/51

743,163‌

11,671,431

FNMA

2

.000

12/01/51

9,484,324‌

4,659,814

FNMA

2

.000

01/01/52

3,799,614‌

8,297,676

FNMA

2

.500

01/01/52

6,989,316‌

472,843

FNMA

3

.000

01/01/52

414,446‌

14,727,405

FNMA

2

.000

02/01/52

11,981,145‌

13,001,373

FNMA

2

.500

02/01/52

10,978,109‌

12,529,058

FNMA

2

.500

02/01/52

10,543,044‌

14,506,482

FNMA

2

.500

02/01/52

12,258,096‌

7,664,925

FNMA

2

.500

02/01/52

6,451,556‌

17,211,591

FNMA

3

.500

02/01/52

15,598,232‌

11,440,455

FNMA

2

.000

03/01/52

9,296,481‌

304,040

FNMA

2

.000

03/01/52

247,062‌

537,494

FNMA

2

.500

04/01/52

452,183‌

14,494,795

FNMA

3

.000

04/01/52

12,656,600‌

1,814,414

FNMA

3

.000

04/01/52

1,588,208‌

7,643,647

FNMA

3

.000

04/01/52

6,676,477‌

2,378,476

FNMA

3

.000

04/01/52

2,081,938‌

25,208,673

FNMA

3

.000

04/01/52

22,065,883‌

980,211

h

FNMA

3

.500

04/01/52

883,280‌

12,481,011

FNMA

3

.500

05/01/52

11,246,905‌

6,788,135

FNMA

3

.500

05/01/52

6,118,274‌

29,245,433

FNMA

4

.000

05/01/52

27,180,687‌

12,017,574

h

FNMA

3

.500

06/01/52

10,839,817‌

8,461,552

FNMA

4

.000

06/01/52

7,860,730‌

3,698,522

FNMA

4

.500

06/01/52

3,533,351‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

279

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

19,820,365

FNMA

4

.000

%

07/01/52

$

18,412,765‌

1,915,735

h

FNMA

4

.500

07/01/52

1,830,181‌

3,038,408

FNMA

4

.500

07/01/52

2,902,717‌

1,864,631

FNMA

4

.500

07/01/52

1,781,359‌

29,132,433

FNMA

5

.000

08/01/52

28,409,448‌

5,794,400

FNMA

4

.000

09/01/52

5,379,295‌

12,286,735

h

FNMA

4

.500

09/01/52

11,738,026‌

9,937,605

FNMA

5

.000

09/01/52

9,691,056‌

1,665,533

FNMA

4

.000

09/25/52

1,445,631‌

1,936,433

FNMA

4

.000

09/25/52

1,708,058‌

1,590,000

†

FNMA

4

.500

10/25/52

1,530,313‌

1,815,000

†

FNMA

4

.500

10/25/52

1,759,798‌

5,800,000

h

FNMA

6

.000

11/25/52

5,870,461‌

2,050,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.681

10/25/41

1,841,145‌

1,735,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.781

03/25/42

1,664,684‌

12,290,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.631

05/25/42

11,709,414‌

560,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.831

08/25/42

526,859‌

6,335,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.985

09/25/42

6,168,509‌

2,045,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

4

.581

08/25/33

1,983,542‌

3,530,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

3

.700

11/25/41

3,122,161‌

13,000,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

4

.681

02/25/42

12,104,806‌

12,500,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

6

.781

06/25/42

12,559,475‌

5,090,000

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

6

.281

07/25/42

4,889,947‌

59,455

Government

National

Mortgage

Association

(GNMA)

5

.000

02/15/33

58,791‌

90,238

GNMA

5

.000

09/15/33

90,330‌

3,477,005

GNMA

3

.700

10/15/33

3,345,340‌

9,980

GNMA

5

.500

04/15/34

10,205‌

10,819

GNMA

5

.000

04/15/38

10,791‌

626,140

GNMA

4

.500

02/20/41

611,876‌

4,199,881

GNMA

2

.500

12/20/43

3,763,540‌

909,813

GNMA

4

.500

12/20/45

883,255‌

2,663,610

GNMA

4

.000

06/20/46

375,999‌

3,225,000

†

GNMA

4

.500

09/20/51

3,085,922‌

2,247,310

GNMA

2

.500

02/20/52

1,865,319‌

9,799,856

GNMA

2

.500

05/20/52

8,438,161‌

48,042,437

GNMA

3

.000

05/20/52

42,539,079‌

19,873,012

GNMA

3

.500

07/20/52

18,114,954‌

2,114,023

GNMA

4

.000

07/20/52

1,803,390‌

5,922,692

GNMA

4

.000

08/20/52

5,540,137‌

13,819,702

GNMA

4

.500

08/20/52

13,247,537‌

6,125,000

GNMA

4

.000

09/20/52

5,726,750‌

3,225,000

†

GNMA

4

.500

09/20/52

3,076,009‌

2,665,000

†

GNMA

4

.500

09/20/52

2,450,384‌

4,398,484

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

03/25/52

3,470,392‌

3,476,026

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

03/25/52

3,010,816‌

2,591,257

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

05/01/52

2,234,756‌

3,932,431

g,i

GS

Mortgage-Backed

Securities

Trust

3

.000

08/26/52

3,186,498‌

1,204,053

g,i

J.P.

Morgan

Mortgage

Trust

2

.927

05/25/52

928,263‌

2,423,488

g,i

J.P.

Morgan

Mortgage

Trust

3

.000

09/25/52

1,980,759‌

2,445,101

g,i

J.P.

Morgan

Mortgage

Trust

3

.000

11/25/52

2,031,548‌

3,080,381

g,i

J.P.

Morgan

Mortgage

Trust

3

.000

12/25/52

2,478,835‌

6,519,372

g,i

JP

Morgan

Mortgage

Trust

2

.500

07/25/52

5,168,119‌

2,440,138

g,i

JP

Morgan

Mortgage

Trust

3

.250

07/25/52

2,075,141‌

6,794,103

g,i

JP

Morgan

Mortgage

Trust

3

.000

08/25/52

5,509,627‌

4,360,121

g,i

JP

Morgan

Mortgage

Trust

3

.000

10/25/52

3,535,807‌

2,445,101

g,i

JP

Morgan

Mortgage

Trust

3

.000

11/25/52

1,988,925‌

TOTAL

MORTGAGE

BACKED

863,283,068‌

MUNICIPAL

BONDS

-

0

.1

%

3,000,000

†,g,q

Oregon

State

Business

Development

Commission

6

.500

04/01/31

219,000‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

280

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MUNICIPAL

BONDS—continued

$

780,000

†,g

Oregon

State

Business

Development

Commission

9

.000

%

04/01/37

$

56,940‌

4,195,000

Virgin

Islands

Water

&

Power

Authority-Electric

System

10

.000

07/01/24

4,136,579‌

TOTAL

MUNICIPAL

BONDS

4,412,519‌

U.S.

TREASURY

SECURITIES

-

16

.1

%

665,000

United

States

Treasury

Note

0

.125

10/31/22

663,661‌

13,975,000

j

United

States

Treasury

Note

0

.125

12/31/22

13,861,152‌

19,715,000

United

States

Treasury

Note

0

.125

01/31/23

19,486,729‌

4,795,000

United

States

Treasury

Note

0

.125

02/28/23

4,723,262‌

550,000

United

States

Treasury

Note

0

.125

05/31/23

535,734‌

25,000,000

United

States

Treasury

Note

0

.125

08/31/23

24,073,242‌

46,800,000

United

States

Treasury

Note

0

.875

01/31/24

44,710,453‌

25,000,000

United

States

Treasury

Note

2

.250

03/31/24

24,250,000‌

3,150,000

United

States

Treasury

Note

2

.625

04/30/24

3,062,145‌

30,000

United

States

Treasury

Note

0

.375

07/15/24

28,011‌

20,860,000

United

States

Treasury

Note

3

.250

08/31/24

20,483,542‌

10,840,000

United

States

Treasury

Note

4

.250

09/30/24

10,845,081‌

5,395,000

United

States

Treasury

Note

2

.875

06/15/25

5,203,014‌

10,185,000

United

States

Treasury

Note

3

.500

09/15/25

9,977,322‌

20,350,000

e

United

States

Treasury

Note

3

.125

08/31/27

19,520,102‌

1,100,000

United

States

Treasury

Note

1

.375

10/31/28

942,305‌

5,070,000

United

States

Treasury

Note

3

.125

08/31/29

4,811,747‌

50,386,400

United

States

Treasury

Note

2

.750

08/15/32

46,072,064‌

9,700,000

United

States

Treasury

Note

1

.875

02/15/41

6,870,707‌

22,630,000

United

States

Treasury

Note

2

.250

05/15/41

17,107,750‌

40,800,000

United

States

Treasury

Note

1

.750

08/15/41

27,895,406‌

15,500,000

United

States

Treasury

Note

2

.000

11/15/41

11,093,398‌

184,896,900

j

United

States

Treasury

Note

2

.375

02/15/42

141,677,250‌

46,823,000

United

States

Treasury

Note

3

.250

05/15/42

41,555,412‌

27,138,000

e

United

States

Treasury

Note

3

.375

08/15/42

24,581,092‌

132,510,000

j

United

States

Treasury

Note

2

.250

02/15/52

96,276,797‌

78,497,500

United

States

Treasury

Note

2

.875

05/15/52

65,827,513‌

14,750,000

United

States

Treasury

Note

3

.000

08/15/52

12,728,789‌

TOTAL

U.S.

TREASURY

SECURITIES

698,863,680‌

TOTAL

GOVERNMENT

BONDS

1,672,235,586‌

(Cost

$1,888,165,745)

STRUCTURED

ASSETS

-

18

.1

%

ASSET

BACKED

-

7

.8

%

1,079,719

†,g

AASET

Trust

6

.413

01/16/40

11‌

Series

-

2020

1A

(Class

C)

6,343,036

g

Adams

Outdoor

Advertising

LP

4

.810

11/15/48

6,000,770‌

Series

-

2018

1

(Class

A)

6,500,000

g

Adams

Outdoor

Advertising

LP

7

.356

11/15/48

5,791,486‌

Series

-

2018

1

(Class

C)

2,500,000

g

Affirm

Asset

Securitization

Trust

2

.540

08/17/26

2,209,258‌

Series

-

2021

B

(Class

D)

1,500,000

g

Affirm

Asset

Securitization

Trust

4

.610

08/17/26

1,246,585‌

Series

-

2021

B

(Class

E)

3,000,000

g,i

AGL

CLO

19

Ltd

4

.908

07/21/35

2,961,549‌

Series

-

2022

19A

(Class

B1)

3,100,000

g

AMSR

Trust

3

.218

04/17/37

2,863,030‌

Series

-

2020

SFR1

(Class

E)

2,625,000

g

AMSR

Trust

3

.247

01/19/39

2,321,515‌

Series

-

2019

SFR1

(Class

D)

9,000,000

g,i

Apidos

CLO

XXIV

LIBOR

3

M

+

1.350%

4

.060

10/20/30

8,482,545‌

Series

-

2016

24A

(Class

A2LX)

1,000,000

g,i

Apidos

CLO

XXIX

LIBOR

3

M

+

1.550%

4

.333

07/25/30

950,826‌

Series

-

2018

29A

(Class

A2)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

281

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

5,110,701

g

Apollo

aviation

securitization

2

.798

%

01/15/47

$

4,039,530‌

Series

-

2021

2A

(Class

A)

3,974,850

g

Applebee's

Funding

LLC

4

.194

06/05/49

3,766,123‌

Series

-

2019

1A

(Class

A2I)

1,712,700

g

Applebee's

Funding

LLC

4

.723

06/05/49

1,594,411‌

Series

-

2019

1A

(Class

A2II)

1,910,000

g

Avis

Budget

Rental

Car

Funding

AESOP

LLC

4

.240

09/22/25

1,817,559‌

Series

-

2019

2A

(Class

C)

3,100,000

g

Avis

Budget

Rental

Car

Funding

AESOP

LLC

2

.130

08/20/27

2,590,964‌

Series

-

2021

1A

(Class

C)

6,575,000

g

Avis

Budget

Rental

Car

Funding

AESOP

LLC

4

.080

02/20/28

5,235,088‌

Series

-

2021

2A

(Class

D)

1,393,000

g

Bojangles

Issuer

LLC

3

.832

10/20/50

1,243,519‌

Series

-

2020

1A

(Class

A2)

1,000,000

g,i

Bonanza

RE

Ltd

U.S.

Treasury

Bill

3

M

+

4.750%

7

.995

12/23/24

400,000‌

Series

-

2020

A

(Class

A)

2,625,000

g,i

Boyce

Park

Clo

Ltd

SOFR

+

3.100%

0

.000

04/21/35

2,300,046‌

Series

-

2022

1A

(Class

D)

1,730,440

g

BRE

Grand

Islander

Timeshare

Issuer

LLC

3

.280

09/26/33

1,622,203‌

Series

-

2019

A

(Class

A)

607,858

g

British

Airways

Pass

Through

Trust

8

.375

11/15/28

614,537‌

Series

-

2020

A

(Class

A)

2,215,834

g

British

Airways

Pass

Through

Trust

3

.800

09/20/31

1,990,057‌

Series

-

2018

1

(Class

AA)

819,673

g

British

Airways

Pass

Through

Trust

4

.250

11/15/32

737,449‌

Series

-

2020

A

(Class

A)

5,100,000

g

Capital

Automotive

REIT

4

.520

02/15/50

4,492,894‌

Series

-

2020

1A

(Class

B2)

3,167,358

g

Capital

Automotive

REIT

1

.920

08/15/51

2,682,723‌

Series

-

2021

1A

(Class

A3)

2,478,125

g

Cars

Net

Lease

Mortgage

Notes

Series

3

.100

12/15/50

2,164,239‌

Series

-

2020

1A

(Class

A3)

2,500,000

g

Cars

Net

Lease

Mortgage

Notes

Series

4

.690

12/15/50

2,251,480‌

Series

-

2020

1A

(Class

B1)

5,625,000

Carvana

Auto

Receivables

Trust

2

.300

09/11/28

5,166,343‌

Series

-

2021

N4

(Class

D)

1,250,000

g,i

Cayuga

Park

CLO

Ltd

LIBOR

3

M

+

6.000%

1

.000

07/17/34

1,069,978‌

Series

-

2020

1A

(Class

ER)

632,317

i

C-BASS

Trust

LIBOR

1

M

+

0.160%

3

.244

07/25/36

600,593‌

Series

-

2006

CB6

(Class

A1)

6,451,318

†,g,i

CBRE

Realty

Finance

LIBOR

3

M

+

0.300%

0

.438

04/07/52

16,128‌

Series

-

2007

1A

(Class

A2)

9,886

Centex

Home

Equity

5

.540

01/25/32

9,644‌

Series

-

2002

A

(Class

AF6)

6,443,524

g

CF

Hippolyta

LLC

2

.280

07/15/60

5,634,845‌

Series

-

2020

1

(Class

B1)

2,871,971

g

CF

Hippolyta

LLC

2

.600

07/15/60

2,322,795‌

Series

-

2020

1

(Class

B2)

10,368,433

g

CF

Hippolyta

LLC

1

.530

03/15/61

8,919,633‌

Series

-

2021

1A

(Class

A1)

8,680,548

g

CF

Hippolyta

LLC

1

.980

03/15/61

7,299,156‌

Series

-

2021

1A

(Class

B1)

4,375,000

g,i

CIFC

Funding

LIBOR

3

M

+

1.450%

3

.962

04/15/34

4,089,098‌

Series

-

2021

2A

(Class

B)

1,500,000

g,i

CIFC

Funding

Ltd

LIBOR

3

M

+

2.300%

0

.000

01/17/35

1,368,682‌

Series

-

2014

4RA

(Class

BR)

3,360,000

g

Cologix

Data

Centers

US

Issuer

LLC

3

.300

12/26/51

2,995,786‌

Series

-

2021

1A

(Class

A2)

18,382

Countrywide

Asset-Backed

Certificates

(Step

Bond)

5

.216

10/25/27

18,383‌

Series

-

2002

S4

(Class

A5)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

282

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

9,850,000

g

Crescendo

Royalty

Funding

LP

3

.567

%

12/20/51

$

8,553,950‌

Series

-

2021

1

(Class

A)

4,350,450

g

DB

Master

Finance

LLC

4

.021

05/20/49

4,045,170‌

Series

-

2019

1A

(Class

A2II)

3,152,500

g

DB

Master

Finance

LLC

4

.352

05/20/49

2,867,618‌

Series

-

2019

1A

(Class

A23)

4,218,125

g

DB

Master

Finance

LLC

2

.045

11/20/51

3,581,867‌

Series

-

2021

1A

(Class

A2I)

6,848,250

g

DB

Master

Finance

LLC

2

.493

11/20/51

5,601,149‌

Series

-

2021

1A

(Class

A2II)

1,179,133

g

Diamond

Resorts

Owner

Trust

3

.700

01/21/31

1,158,588‌

Series

-

2018

1

(Class

A)

314,436

g

Diamond

Resorts

Owner

Trust

5

.900

01/21/31

307,375‌

Series

-

2018

1

(Class

D)

1,132,755

g

Diamond

Resorts

Owner

Trust

2

.700

11/21/33

1,033,345‌

Series

-

2021

1A

(Class

C)

589,977

g

Diamond

Resorts

Owner

Trust

3

.830

11/21/33

543,596‌

Series

-

2021

1A

(Class

D)

4,637,100

g

Domino's

Pizza

Master

Issuer

LLC

4

.474

10/25/45

4,434,496‌

Series

-

2015

1A

(Class

A2II)

1,540,000

g

Domino's

Pizza

Master

Issuer

LLC

4

.116

07/25/48

1,449,466‌

Series

-

2018

1A

(Class

A2I)

2,895,000

g

Driven

Brands

Funding

LLC

4

.641

04/20/49

2,677,658‌

Series

-

2019

1A

(Class

A2)

2,425,500

g

Driven

Brands

Funding

LLC

3

.786

07/20/50

2,109,275‌

Series

-

2020

1A

(Class

A2)

2,905,750

g

Driven

Brands

Funding

LLC

3

.237

01/20/51

2,457,625‌

Series

-

2020

2A

(Class

A2)

682,878

g,i

Ellington

Loan

Acquisition

Trust

LIBOR

1

M

+

1.100%

4

.184

05/25/37

678,036‌

Series

-

2007

2

(Class

A2C)

2,244,375

g

EWC

Master

Issuer

LLC

5

.500

03/15/52

2,047,314‌

Series

-

2022

1A

(Class

A2)

5,728,469

g

Flexential

Issuer,

LLC

3

.250

11/27/51

4,981,844‌

Series

-

2021

1A

(Class

A2)

1,550,000

g,i

GRACIE

POINT

INTERNATIONAL

FUNDING

0

.000

07/01/24

1,549,213‌

Series

-

2022

2A

(Class

E)

775,000

g,i

GRACIE

POINT

INTERNATIONAL

FUNDING

0

.000

07/01/24

774,605‌

Series

-

2022

2A

(Class

D)

260,486

g

HERO

Funding

Trust

3

.280

09/20/48

239,099‌

Series

-

2017

2A

(Class

A1)

520,971

g

HERO

Funding

Trust

4

.070

09/20/48

483,369‌

Series

-

2017

2A

(Class

A2)

5,025,000

g

Hertz

Vehicle

Financing

LLC

2

.050

12/26/25

4,524,679‌

Series

-

2021

1A

(Class

C)

5,000,000

g

Hertz

Vehicle

Financing

LLC

3

.980

12/26/25

4,366,519‌

Series

-

2021

1A

(Class

D)

3,750,000

g

HIFI

A2

3

.939

02/01/62

3,324,802‌

Series

-

2022

1A

(Class

A2)

411,892

g

Hilton

Grand

Vacations

Trust

2

.660

12/26/28

405,313‌

Series

-

2017

AA

(Class

A)

686,487

g

Hilton

Grand

Vacations

Trust

2

.960

12/26/28

670,168‌

Series

-

2017

AA

(Class

B)

697,731

g

Hilton

Grand

Vacations

Trust

4

.000

02/25/32

667,761‌

Series

-

2018

AA

(Class

C)

1,691,857

g

Hilton

Grand

Vacations

Trust

2

.840

07/25/33

1,570,879‌

Series

-

2019

AA

(Class

C)

29,419

i

Home

Equity

Asset

Trust

LIBOR

1

M

+

1.500%

3

.986

06/25/33

28,914‌

Series

-

2003

1

(Class

M1)

2,055,308

g

Horizon

Aircraft

Finance

II

Ltd

3

.721

07/15/39

1,717,304‌

Series

-

2019

1

(Class

A)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

283

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

7,822,781

g

Horizon

Aircraft

Finance

III

Ltd

3

.425

%

11/15/39

$

6,548,563‌

Series

-

2019

2

(Class

A)

2,900,000

g

Hotwire

Funding

LLC

2

.658

11/20/51

2,393,263‌

Series

-

2021

1

(Class

B)

3,000,000

†,g

Industrial

DPR

Funding

Ltd

5

.380

04/15/34

2,678,460‌

Series

-

2022

1A

(Class

1)

699,900

g,i

Invitation

Homes

Trust

LIBOR

1

M

+

0.950%

3

.943

03/17/37

693,147‌

Series

-

2018

SFR1

(Class

B)

499,977

g,i

Invitation

Homes

Trust

LIBOR

1

M

+

1.250%

4

.243

01/17/38

490,118‌

Series

-

2018

SFR4

(Class

B)

1,000,000

g,i

Kendall

Re

Ltd

U.S.

Treasury

Bill

3

M

+

4.000%

4

.040

05/02/24

928,000‌

Series

-

2020

A

(Class

A)

1,680,683

g

Lunar

Aircraft

Ltd

4

.335

02/15/45

1,239,159‌

Series

-

2020

1A

(Class

B)

2,719,952

g

Lunar

Structured

Aircraft

Portfolio

Notes

5

.682

10/15/46

2,148,468‌

Series

-

2021

1

(Class

C)

4,000,000

g,i

Madison

Park

Funding

LIX

Ltd

LIBOR

3

M

+

2.100%

6

.294

01/18/34

3,706,200‌

Series

-

2021

59A

(Class

C)

1,000,000

g,i

Madison

Park

Funding

XXXVI

Ltd

SOFR

3M

+

3.500%

5

.981

04/15/35

911,267‌

Series

-

2019

36A

(Class

D1R)

3,500,000

g,i

Magnetite

XXIII

Ltd

LIBOR

3

M

+

2.050%

4

.833

01/25/35

3,240,927‌

Series

-

2019

23A

(Class

CR)

1,000,000

g,i

Magnetite

XXIII

Ltd

LIBOR

3

M

+

6.300%

7

.484

01/25/35

871,606‌

Series

-

2019

23A

(Class

ER)

2,575,830

g

MAPS

Trust

2

.521

06/15/46

2,112,179‌

Series

-

2021

1A

(Class

A)

2,053,500

g

MAPS

Trust

5

.437

06/15/46

1,292,863‌

Series

-

2021

1A

(Class

C)

535,086

Mid-State

Capital

Trust

5

.745

01/15/40

526,193‌

Series

-

2005

1

(Class

A)

4,310,000

g,i

MSCG

Trust

3

.577

06/07/35

3,474,492‌

Series

-

2015

ALDR

(Class

D)

800,000

g,i

MSCG

Trust

3

.577

06/07/35

675,524‌

Series

-

2015

ALDR

(Class

C)

1,507,711

g

MVW

LLC

2

.230

05/20/39

1,327,011‌

Series

-

2021

2A

(Class

C)

347,535

g

MVW

Owner

Trust

2

.640

12/20/33

347,081‌

Series

-

2016

1A

(Class

B)

843,936

g

MVW

Owner

Trust

3

.900

01/21/36

812,814‌

Series

-

2018

1A

(Class

C)

862,290

g

MVW

Owner

Trust

3

.330

11/20/36

802,222‌

Series

-

2019

1A

(Class

C)

1,180,000

g,i

Myers

Park

CLO

Ltd

LIBOR

3

M

+

1.600%

4

.310

10/20/30

1,122,921‌

Series

-

2018

1A

(Class

B1)

1,500,000

g

NBC

Funding

LLC

4

.970

07/30/51

1,278,095‌

Series

-

2021

1

(Class

B)

1,000,000

g,i

Neuberger

Berman

CLO

Ltd

5

.741

04/25/36

879,991‌

Series

-

2022

48A

(Class

D)

2,000,000

g,i

Neuberger

Berman

Loan

Advisers

CLO

31

Ltd

LIBOR

3

M

+

6.500%

9

.210

04/20/31

1,745,598‌

Series

-

2019

31A

(Class

ER)

2,050,000

g,i

Neuberger

Berman

Loan

Advisers

Clo

40

Ltd

LIBOR

3

M

+

2.750%

5

.490

04/16/33

1,823,153‌

Series

-

2021

40A

(Class

D)

1,000,000

g,i

Neuberger

Berman

Loan

Advisers

CLO

41

Ltd

LIBOR

3

M

+

6.500%

9

.012

04/15/34

877,680‌

Series

-

2021

41A

(Class

E)

1,000,000

g

Oak

Street

Investment

Grade

Net

Lease

Fund

Series

4

.230

01/20/51

897,993‌

Series

-

2021

1A

(Class

B1)

45,719

Oakwood

Mortgage

Investors,

Inc

5

.410

11/15/32

45,657‌

Series

-

2002

C

(Class

A1)

950,000

g

Oportun

Funding

XIV

LLC

3

.440

03/08/28

874,001‌

Series

-

2021

A

(Class

C)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

284

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

1,000,000

g

Oportun

Funding

XIV

LLC

5

.400

%

03/08/28

$

920,343‌

Series

-

2021

A

(Class

D)

3,490,000

g

Oportun

Issuance

Trust

5

.410

05/08/31

3,111,148‌

Series

-

2021

B

(Class

D)

1,000,000

g,i

Palmer

Square

CLO

Ltd

LIBOR

3

M

+

2.950%

5

.462

01/15/35

890,555‌

Series

-

2021

3A

(Class

D)

2,500,000

g,i

Palmer

Square

CLO

Ltd

SOFR

3M

+

3.050%

0

.000

04/20/35

2,219,608‌

Series

-

2022

1A

(Class

D)

600,000

g

Progress

Residential

Trust

2

.711

11/17/40

480,038‌

Series

-

2021

SFR9

(Class

D)

1,000,000

g

Purchasing

Power

Funding

LLC

4

.370

10/15/25

965,211‌

Series

-

2021

A

(Class

D)

6,911,875

g

Purewest

Funding

LLC

4

.091

12/22/36

6,553,081‌

Series

-

2021

1

(Class

A1)

14,063

†,g,i

Putnam

RE

PTE

Ltd

8

.747

06/07/24

1‌

Series

-

2020

A

(Class

A)

1,250,000

g

Regional

Management

Issuance

Trust

3

.040

03/17/31

1,049,165‌

Series

-

2021

1

(Class

C)

800,000

g

Regional

Management

Issuance

Trust

5

.070

03/17/31

656,444‌

Series

-

2021

1

(Class

D)

500,000

g,i

Residential

Reinsurance

2021

Ltd

U.S.

Treasury

Bill

3

M

+

2.500%

5

.745

06/06/25

475,000‌

Series

-

2020

A

(Class

A)

500,000

g,i

Residential

Reinsurance

2021

Ltd

U.S.

Treasury

Bill

3

M

+

3.590%

6

.835

06/06/25

473,000‌

Series

-

2020

A

(Class

A)

2,400,000

g,i

Sanders

RE

II

Ltd

U.S.

Treasury

Bill

3

M

+

3.250%

3

.250

04/07/25

2,299,200‌

Series

-

2020

A

(Class

A)

3,798,643

†,g

Settlement

Fee

Finance

LLC

3

.840

11/01/49

3,650,990‌

Series

-

2019

1A

(Class

A)

1,500,000

g,i

Sierra

Ltd

U.S.

Treasury

Bill

3

M

+

3.250%

6

.500

12/28/22

1,485,000‌

Series

-

2020

A

(Class

A)

544,584

g

Sierra

Timeshare

Receivables

Funding

LLC

3

.650

06/20/35

535,215‌

Series

-

2018

2A

(Class

B)

270,196

g

Sierra

Timeshare

Receivables

Funding

LLC

4

.540

05/20/36

259,874‌

Series

-

2019

2A

(Class

D)

2,175,533

g

Sierra

Timeshare

Receivables

Funding

LLC

1

.790

11/20/37

1,991,719‌

Series

-

2021

1A

(Class

C)

285,304

†,g

SolarCity

LMC

4

.800

11/20/38

273,435‌

Series

-

2013

1

(Class

A)

7,348,646

g

Sonic

Capital

LLC

3

.845

01/20/50

6,657,395‌

Series

-

2020

1A

(Class

A2I)

5,875,000

g

Stack

Infrastructure

Issuer

LLC

1

.877

03/26/46

5,053,252‌

Series

-

2021

1A

(Class

A2)

2,961,915

g

START

Ireland

5

.095

03/15/44

2,165,919‌

Series

-

2019

1

(Class

B)

1,471,640

g

Start

Ltd/Bermuda

5

.315

05/15/43

965,116‌

Series

-

2018

1

(Class

B)

4,858

i

Structured

Asset

Investment

Loan

Trust

LIBOR

1

M

+

0.900%

3

.984

09/25/34

4,710‌

Series

-

2004

8

(Class

M1)

7,651,063

g

Taco

Bell

Funding

LLC

4

.970

05/25/46

7,365,181‌

Series

-

2016

1A

(Class

A23)

3,850,000

g

Taco

Bell

Funding

LLC

4

.940

11/25/48

3,568,188‌

Series

-

2018

1A

(Class

A2II)

8,356,850

g

Taco

Bell

Funding

LLC

1

.946

08/25/51

6,980,836‌

Series

-

2021

1A

(Class

A2I)

4,883,100

g

Taco

Bell

Funding

LLC

2

.294

08/25/51

3,901,802‌

Series

-

2021

1A

(Class

A2II)

2,500,000

g,i

TCW

CLO

Ltd

LIBOR

3

M

+

6.860%

6

.985

07/25/34

2,210,203‌

Series

-

2021

2A

(Class

E)

475,000

g

Tricon

American

Homes

Trust

2

.049

07/17/38

408,218‌

Series

-

2020

SFR1

(Class

B)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

285

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

6,364,712

United

Airlines

Pass

Through

Trust

5

.875

%

10/15/27

$

6,138,963‌

Series

-

2020

A

(Class

A)

4,045,568

United

Airlines

Pass

Through

Trust

3

.700

03/01/30

3,174,264‌

Series

-

2018

1

(Class

A)

4,322,744

United

Airlines

Pass

Through

Trust

2

.700

05/01/32

3,450,502‌

Series

-

2019

2

(Class

AA)

450,000

g,i

Ursa

Re

II

Ltd

U.S.

Treasury

Bill

3

M

+

3.750%

7

.000

12/07/23

436,500‌

Series

-

2020

A

(Class

AA)

2,475,000

g

VB-S1

Issuer

Issuer

LLC

-

VBTEL

4

.288

02/15/52

2,165,142‌

Series

-

2022

1A

(Class

D)

6,141,501

g

Vine

2

.790

11/15/50

5,370,690‌

Series

-

2020

1A

(Class

A)

1,860,291

g

Vine

6

.420

11/15/50

1,712,035‌

Series

-

2020

1A

(Class

C)

3,200,000

g,i

Vitality

Re

X

Ltd

U.S.

Treasury

Bill

3

M

+

1.750%

4

.995

01/10/23

3,183,360‌

Series

-

2020

A

(Class

A)

2,000,000

g,i

Vitality

Re

XII

Ltd

U.S.

Treasury

Bill

3

M

+

2.250%

5

.500

01/07/25

1,953,000‌

Series

-

2020

A

(Class

A)

3,660,063

g

Vivint

Colar

Financing

V

LLC

7

.370

04/30/48

3,389,744‌

Series

-

2018

1A

(Class

B)

6,667,500

g

Wendys

Funding

LLC

3

.884

03/15/48

5,926,021‌

Series

-

2018

1A

(Class

A2II)

5,737,375

g

Wendy's

Funding

LLC

2

.370

06/15/51

4,561,041‌

Series

-

2021

1A

(Class

A2I)

3,619,440

g

ZAXBY'S

FUNDING

LLC

3

.238

07/30/51

2,958,740‌

Series

-

2021

1A

(Class

A2)

TOTAL

ASSET

BACKED

339,486,953‌

OTHER

MORTGAGE

BACKED

-

10

.3

%

181,771

g,i

Agate

Bay

Mortgage

Trust

3

.500

09/25/45

165,591‌

Series

-

2015

6

(Class

A9)

28,131

Alternative

Loan

Trust

5

.250

11/25/33

26,596‌

Series

-

2003

J3

(Class

1A3)

1,500,000

i

BANK

4

.056

11/15/50

1,334,697‌

Series

-

2017

BNK8

(Class

B)

3,750,000

g

BANK

2

.500

10/17/52

2,545,648‌

Series

-

2019

BN21

(Class

D)

1,000,000

BANK

3

.093

10/17/52

828,345‌

Series

-

2019

BN21

(Class

AS)

1,000,000

BANK

3

.455

12/15/52

828,515‌

Series

-

2019

BN23

(Class

B)

1,686,719

g,i

Bayview

MSR

Opportunity

Master

Fund

Trust

3

.000

10/25/51

1,357,415‌

Series

-

2021

6

(Class

A19)

4,500,000

g,i

BBCMS

Mortgage

Trust

4

.409

08/05/38

3,184,071‌

Series

-

2018

CHRS

(Class

E)

1,769,000

g,i

Benchmark

Mortgage

Trust

2

.791

09/15/48

1,434,666‌

Series

-

2020

IG2

(Class

AM)

2,800,000

g,i

Benchmark

Mortgage

Trust

3

.232

09/15/48

2,305,409‌

Series

-

2020

IG3

(Class

AS)

5,000,000

g,i

Benchmark

Mortgage

Trust

3

.654

09/15/48

4,307,025‌

Series

-

2020

IG3

(Class

BXA)

1,100,000

Benchmark

Mortgage

Trust

4

.267

03/15/52

997,104‌

Series

-

2019

B9

(Class

AS)

3,600,000

i

Benchmark

Mortgage

Trust

4

.510

05/15/53

3,444,604‌

Series

-

2018

B7

(Class

A4)

9,100,000

g

Benchmark

Mortgage

Trust

4

.139

07/15/53

7,607,716‌

Series

-

2020

B18

(Class

AGNF)

6,500,000

i

Benchmark

Mortgage

Trust

2

.563

02/15/54

4,591,040‌

Series

-

2021

B23

(Class

C)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

286

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

9,201,088

g,i

BX

Commercial

Mortgage

Trust

LIBOR

1

M

+

0.920%

3

.738

%

10/15/36

$

9,069,604‌

Series

-

2019

XL

(Class

A)

4,500,000

g,i

BXP

Trust

2

.868

01/15/44

3,024,003‌

Series

-

2021

601L

(Class

D)

1,800,000

i

CD

Mortgage

Trust

3

.879

11/10/49

1,609,007‌

Series

-

2016

CD2

(Class

B)

1,000,000

i

CD

Mortgage

Trust

4

.114

11/10/49

827,606‌

Series

-

2016

CD2

(Class

C)

1,400,000

i

CD

Mortgage

Trust

4

.699

02/10/50

1,234,306‌

Series

-

2017

CD3

(Class

C)

221,585

g,i

CF

Mortgage

Trust

2

.840

04/15/25

209,802‌

Series

-

2020

P1

(Class

A1)

10,000,000

g,i

CF

Mortgage

Trust

3

.603

04/15/52

10,013,978‌

Series

-

2020

P1

(Class

A2)

5,000,000

i

CFCRE

Commercial

Mortgage

Trust

3

.502

11/10/49

4,518,543‌

Series

-

2016

C6

(Class

AM)

128,957

Citicorp

Mortgage

Securities,

Inc

5

.500

07/25/35

118,007‌

Series

-

2005

4

(Class

1A7)

3,400,000

g,i

Citigroup

Commercial

Mortgage

Trust

LIBOR

1

M

+

1.900%

4

.718

10/15/36

3,225,901‌

Series

-

2021

PRM2

(Class

D)

2,000,000

i

Citigroup

Commercial

Mortgage

Trust

4

.134

04/10/46

1,966,251‌

Series

-

2013

GC11

(Class

C)

1,129,262

g,i

Citigroup

Commercial

Mortgage

Trust

4

.631

07/10/47

1,031,727‌

Series

-

2014

GC23

(Class

D)

2,600,000

i

Citigroup

Commercial

Mortgage

Trust

3

.758

04/10/48

2,424,272‌

Series

-

2015

GC29

(Class

B)

1,650,000

i

Citigroup

Commercial

Mortgage

Trust

4

.279

04/10/48

1,527,536‌

Series

-

2015

GC29

(Class

C)

2,717,806

Citigroup

Commercial

Mortgage

Trust

4

.233

04/10/49

2,496,383‌

Series

-

2016

GC37

(Class

B)

1,020,000

Citigroup

Commercial

Mortgage

Trust

3

.018

08/10/56

856,187‌

Series

-

2019

GC41

(Class

AS)

1,091,000

g,i

COMM

Mortgage

Trust

5

.031

08/10/46

1,067,671‌

Series

-

2013

CR10

(Class

C)

3,000,000

g,i

COMM

Mortgage

Trust

5

.425

08/10/46

2,773,726‌

Series

-

2013

LC13

(Class

D)

5,000,000

COMM

Mortgage

Trust

4

.199

03/10/47

4,874,065‌

Series

-

2014

UBS2

(Class

AM)

1,120,000

COMM

Mortgage

Trust

4

.174

05/10/47

1,086,419‌

Series

-

2014

CR17

(Class

AM)

5,150,000

g,i

COMM

Mortgage

Trust

4

.926

06/10/47

4,668,043‌

Series

-

2014

UBS3

(Class

D)

3,307,500

i

COMM

Mortgage

Trust

4

.456

07/15/47

3,164,440‌

Series

-

2014

CR18

(Class

B)

3,250,000

g,i

COMM

Mortgage

Trust

4

.854

08/10/47

2,967,364‌

Series

-

2014

CR19

(Class

D)

2,500,000

g

COMM

Mortgage

Trust

3

.000

03/10/48

1,985,851‌

Series

-

2015

CR22

(Class

E)

2,600,000

g,i

COMM

Mortgage

Trust

4

.207

03/10/48

2,284,972‌

Series

-

2015

CR22

(Class

D)

3,340,500

i

COMM

Mortgage

Trust

4

.207

03/10/48

3,085,844‌

Series

-

2015

CR22

(Class

C)

2,500,000

i

COMM

Mortgage

Trust

4

.428

05/10/48

2,133,378‌

Series

-

2015

CR23

(Class

D)

2,500,000

i

COMM

Mortgage

Trust

3

.463

08/10/48

2,101,650‌

Series

-

2015

CR24

(Class

D)

2,500,000

i

COMM

Mortgage

Trust

4

.487

08/10/48

2,350,464‌

Series

-

2015

CR24

(Class

B)

3,000,000

i

COMM

Mortgage

Trust

4

.487

08/10/48

2,751,053‌

Series

-

2015

CR24

(Class

C)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

287

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

3,175,000

i

COMM

Mortgage

Trust

4

.619

%

10/10/48

$

2,910,813‌

Series

-

2015

CR26

(Class

C)

552,326

i

Connecticut

Avenue

Securities

Trust

LIBOR

1

M

+

2.600%

5

.684

05/25/24

551,493‌

Series

-

2014

C02

(Class

1M2)

2,389,050

i

Connecticut

Avenue

Securities

Trust

LIBOR

1

M

+

3.000%

6

.084

07/25/24

2,400,493‌

Series

-

2014

C03

(Class

1M2)

1,155,000

g,i

Connecticut

Avenue

Securities

Trust

3

.831

10/25/41

1,098,700‌

Series

-

2021

R01

(Class

1M2)

2,800,000

g,i

Connecticut

Avenue

Securities

Trust

5

.581

11/25/41

2,537,679‌

Series

-

2021

R02

(Class

2B1)

1,850,000

g,i

Connecticut

Avenue

Securities

Trust

5

.031

12/25/41

1,573,754‌

Series

-

2021

R03

(Class

1B1)

3,090,000

g,i

Connecticut

Avenue

Securities

Trust

5

.781

03/25/42

2,944,493‌

Series

-

2022

R03

(Class

1M2)

2,070,000

g,i

Connecticut

Avenue

Securities

Trust

5

.281

04/25/42

1,915,198‌

Series

-

2022

R05

(Class

2M2)

550,000

g,i

Connecticut

Avenue

Securities

Trust

6

.014

04/25/42

522,567‌

Series

-

2022

R05

(Class

2B1)

3,565,000

g,i

Connecticut

Avenue

Securities

Trust

SOFR

+

3.600%

5

.905

07/25/42

3,384,725‌

Series

-

2022

R08

(Class

1M2)

310,231

i

Countrywide

Alternative

Loan

Trust

LIBOR

1

M

+

0.460%

3

.453

07/20/35

289,000‌

Series

-

2005

24

(Class

4A1)

25,643

Countrywide

Alternative

Loan

Trust

5

.000

12/25/56

24,140‌

Series

-

2005

6CB

(Class

2A1)

320,349

i

Countrywide

Home

Loan

Mortgage

Pass

Through

Trust

3

.303

11/20/34

305,622‌

Series

-

2004

HYB6

(Class

A2)

20,783

Countrywide

Home

Loan

Mortgage

Pass

Through

Trust

5

.250

09/25/35

18,525‌

Series

-

2005

17

(Class

1A10)

5,000,000

g,i

CPT

Mortgage

Trust

3

.097

11/13/39

3,536,072‌

Series

-

2019

CPT

(Class

E)

2,168,398

g,i

Credit

Suisse

Mortgage

Capital

Certificates

2

.405

10/25/66

1,824,091‌

Series

-

2021

NQM8

(Class

A3)

3,340,000

CSAIL

Commercial

Mortgage

Trust

3

.505

04/15/50

3,201,453‌

Series

-

2015

C1

(Class

A4)

1,799,583

g,i

CSMC

2

.130

05/25/65

1,431,665‌

Series

-

2021

NQM1

(Class

M1)

1,850,000

g,i

CSMC

Series

3

.388

10/25/59

1,617,991‌

Series

-

2019

NQM1

(Class

M1)

5,065,000

DBJPM

3

.539

05/10/49

4,648,853‌

Series

-

2016

C1

(Class

AM)

3,400,000

g,i

ELP

Commercial

Mortgage

Trust

LIBOR

1

M

+

2.118%

4

.936

11/15/38

3,180,957‌

Series

-

2021

ELP

(Class

E)

2,000,000

g,i

EQUS

Mortgage

Trust

LIBOR

1

M

+

2.300%

5

.118

10/15/38

1,866,209‌

Series

-

2021

EQAZ

(Class

E)

891,462

g,i

Flagstar

Mortgage

Trust

4

.044

10/25/47

804,290‌

Series

-

2017

2

(Class

B3)

54,467

g,i

Flagstar

Mortgage

Trust

4

.000

09/25/48

52,051‌

Series

-

2018

5

(Class

A11)

1,366,509

g,i

Flagstar

Mortgage

Trust

2

.500

04/25/51

1,078,172‌

Series

-

2021

2

(Class

A4)

1,805,421

g,i

Flagstar

Mortgage

Trust

2

.500

06/01/51

1,424,472‌

Series

-

2021

4

(Class

A21)

9,019,139

g,i

Flagstar

Mortgage

Trust

3

.000

10/25/51

7,258,302‌

Series

-

2021

10INV

(Class

A17)

2,690,000

g,i

Freddie

Mac

STACR

REMIC

Trust

4

.781

01/25/42

2,356,169‌

Series

-

2022

DNA1

(Class

M2)

5,100,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.181

04/25/42

4,825,664‌

Series

-

2022

DNA3

(Class

M1B)

3,846,000

g,i

GS

Mortgage

Securities

Trust

4

.285

02/10/46

3,804,288‌

Series

-

2013

GC10

(Class

C)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

288

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

2,250,000

i

GS

Mortgage

Securities

Trust

4

.115

%

10/10/49

$

1,978,299‌

Series

-

2016

GS3

(Class

C)

3,725,000

i

GS

Mortgage

Securities

Trust

4

.079

11/10/49

3,209,137‌

Series

-

2016

GS4

(Class

C)

2,000,000

g

GS

Mortgage

Securities

Trust

3

.000

08/10/50

1,554,436‌

Series

-

2017

GS7

(Class

D)

3,800,000

i

GS

Mortgage

Securities

Trust

4

.158

02/10/52

3,452,894‌

Series

-

2019

GC38

(Class

AS)

1,500,000

i

GS

Mortgage

Securities

Trust

4

.761

02/10/52

1,302,678‌

Series

-

2019

GC38

(Class

C)

1,500,000

g,i

GS

Mortgage

Securities

Trust

3

.501

07/10/52

1,457,985‌

Series

-

2019

GC40

(Class

DBB)

1,600,000

g,i

GS

Mortgage

Securities

Trust

3

.668

07/10/52

1,550,970‌

Series

-

2019

GC40

(Class

DBC)

1,000,000

i

GS

Mortgage

Securities

Trust

3

.405

02/13/53

824,588‌

Series

-

2020

GC45

(Class

B)

3,000,000

GS

Mortgage

Securities

Trust

2

.012

12/12/53

2,340,306‌

Series

-

2020

GSA2

(Class

A5)

62,021

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

4

.000

11/25/49

59,144‌

Series

-

2019

PJ2

(Class

A1)

161,996

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

4

.000

11/25/49

154,482‌

Series

-

2019

PJ2

(Class

A4)

366,882

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3

.500

07/25/50

321,157‌

Series

-

2020

PJ2

(Class

A4)

270,059

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3

.000

01/25/51

228,212‌

Series

-

2020

PJ4

(Class

A4)

208,652

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3

.000

03/27/51

174,141‌

Series

-

2020

PJ5

(Class

A4)

1,002,419

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

2

.500

05/25/51

792,303‌

Series

-

2020

PJ6

(Class

A4)

2,849,902

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

2

.500

10/25/51

2,248,564‌

Series

-

2021

PJ5

(Class

A4)

4,001,389

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3

.000

06/25/52

3,234,932‌

Series

-

2022

PJ2

(Class

A36)

279,571

g,i

GS

Mortgage-Backed

Securities

Trust

3

.654

05/25/50

224,747‌

Series

-

2020

PJ1

(Class

B2)

1,276,189

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

07/25/51

992,608‌

Series

-

2021

PJ2

(Class

A4)

7,587,912

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

11/25/51

5,969,835‌

Series

-

2021

PJ6

(Class

A4)

8,942,113

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

01/25/52

7,055,302‌

Series

-

2021

PJ7

(Class

A4)

4,472,812

g,i

GS

Mortgage-Backed

Securities

Trust

2

.500

01/25/52

3,529,037‌

Series

-

2021

PJ8

(Class

A4)

2,386,446

g,i

GS

Mortgage-Backed

Securities

Trust

3

.000

07/25/52

1,920,532‌

Series

-

2022

INV1

(Class

A4)

3,983,433

g,i

GS

Mortgage-Backed

Securities

Trust

3

.000

09/25/52

3,205,734‌

Series

-

2022

HP1

(Class

A4)

2,734,348

g,i

GS

Mortgage-Backed

Securities

Trust

3

.000

10/25/52

2,200,512‌

Series

-

2022

PJ5

(Class

A36)

224,964

g

GSMPS

Mortgage

Loan

Trust

7

.500

03/25/35

211,067‌

Series

-

2005

RP2

(Class

1A2)

213,082

g

GSMPS

Mortgage

Loan

Trust

7

.500

09/25/35

201,587‌

Series

-

2005

RP3

(Class

1A2)

290,337

GSR

Mortgage

Loan

Trust

6

.000

01/25/35

259,286‌

Series

-

2005

1F

(Class

3A3)

1,170,198

i

HarborView

Mortgage

Loan

Trust

LIBOR

1

M

+

0.620%

3

.613

08/19/45

1,077,114‌

Series

-

2005

11

(Class

2A1A)

3,000,000

g,i

Hudson

Yards

Mortgage

Trust

3

.558

07/10/39

2,372,095‌

Series

-

2019

30HY

(Class

D)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

289

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

2,000,000

g,i

Hudson

Yards

Mortgage

Trust

3

.041

%

12/10/41

$

1,531,426‌

Series

-

2019

55HY

(Class

D)

1,750,000

g,i

Hudson

Yards

Mortgage

Trust

3

.041

12/10/41

1,247,589‌

Series

-

2019

55HY

(Class

F)

67,886

i

Impac

CMB

Trust

LIBOR

1

M

+

0.660%

3

.744

03/25/35

64,352‌

Series

-

2004

11

(Class

2A1)

823,736

g,i

Imperial

Fund

Mortgage

Trust

2

.051

10/25/55

759,131‌

Series

-

2020

NQM1

(Class

A3)

440,000

g,i

Imperial

Fund

Mortgage

Trust

3

.531

10/25/55

381,181‌

Series

-

2020

NQM1

(Class

M1)

4,810,000

g,i

Imperial

Fund

Mortgage

Trust

2

.383

06/25/56

3,473,696‌

Series

-

2021

NQM1

(Class

M1)

33,681

i

JP

Morgan

Alternative

Loan

Trust

LIBOR

1

M

+

0.560%

3

.644

04/25/47

32,162‌

Series

-

2007

S1

(Class

A1)

1,700,000

g,i

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

4

.212

01/15/46

1,638,794‌

Series

-

2013

C13

(Class

D)

2,140,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

2

.822

08/15/49

1,955,223‌

Series

-

2016

JP2

(Class

A4)

5,000,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

3

.379

09/15/50

4,817,117‌

Series

-

2017

JP7

(Class

A3)

242,116

i

JP

Morgan

Mortgage

Trust

3

.123

11/25/33

235,925‌

Series

-

2006

A2

(Class

5A3)

1,684,323

g,i

JP

Morgan

Mortgage

Trust

LIBOR

1

M

-

0.000%

3

.413

12/25/44

1,637,309‌

Series

-

2015

1

(Class

B1)

75,065

g,i

JP

Morgan

Mortgage

Trust

3

.500

05/25/45

68,442‌

Series

-

2015

3

(Class

A19)

383,676

g,i

JP

Morgan

Mortgage

Trust

3

.500

10/25/45

339,766‌

Series

-

2015

6

(Class

A13)

191,118

g,i

JP

Morgan

Mortgage

Trust

3

.500

05/25/46

172,591‌

Series

-

2016

1

(Class

A13)

213,821

g,i

JP

Morgan

Mortgage

Trust

3

.500

05/25/47

190,530‌

Series

-

2017

2

(Class

A13)

550,452

g,i

JP

Morgan

Mortgage

Trust

3

.500

09/25/48

478,606‌

Series

-

2018

3

(Class

A13)

218,556

g,i

JP

Morgan

Mortgage

Trust

3

.500

10/25/48

191,456‌

Series

-

2018

4

(Class

A13)

992,060

g,i

JP

Morgan

Mortgage

Trust

3

.500

10/25/48

864,171‌

Series

-

2018

5

(Class

A13)

752,795

g,i

JP

Morgan

Mortgage

Trust

3

.124

10/26/48

720,287‌

Series

-

2017

5

(Class

A2)

890,881

g,i

JP

Morgan

Mortgage

Trust

3

.889

12/25/48

730,219‌

Series

-

2018

6

(Class

B4)

118,352

g,i

JP

Morgan

Mortgage

Trust

4

.000

01/25/49

110,615‌

Series

-

2018

8

(Class

A13)

140,343

g,i

JP

Morgan

Mortgage

Trust

4

.000

02/25/49

130,966‌

Series

-

2018

9

(Class

A13)

52,423

g,i

JP

Morgan

Mortgage

Trust

4

.000

05/25/49

49,603‌

Series

-

2019

1

(Class

A3)

269,434

g,i

JP

Morgan

Mortgage

Trust

4

.000

05/25/49

254,943‌

Series

-

2019

1

(Class

A15)

492,395

g,i

JP

Morgan

Mortgage

Trust

LIBOR

1

M

+

0.950%

4

.034

10/25/49

486,587‌

Series

-

2019

INV1

(Class

A11)

2,431,550

g,i

JP

Morgan

Mortgage

Trust

3

.836

06/25/50

1,976,456‌

Series

-

2020

1

(Class

B2)

4,281,289

g,i

JP

Morgan

Mortgage

Trust

2

.500

10/25/51

3,350,205‌

Series

-

2021

6

(Class

A15)

2,400,877

g,i

JP

Morgan

Mortgage

Trust

2

.500

11/25/51

1,878,740‌

Series

-

2021

7

(Class

A15)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

290

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

2,803,689

g,i

JP

Morgan

Mortgage

Trust

2

.500

%

12/25/51

$

2,212,103‌

Series

-

2021

8

(Class

A15)

1,077,211

g,i

JP

Morgan

Mortgage

Trust

2

.500

12/25/51

847,234‌

Series

-

2021

10

(Class

A15)

4,129,603

g,i

JP

Morgan

Mortgage

Trust

2

.500

01/25/52

3,258,245‌

Series

-

2021

11

(Class

A15)

1,183,341

g,i

JP

Morgan

Mortgage

Trust

2

.500

02/25/52

933,652‌

Series

-

2021

12

(Class

A15)

2,202,232

g,i

JP

Morgan

Mortgage

Trust

3

.350

04/25/52

1,688,684‌

Series

-

2021

INV6

(Class

B1)

1,409,429

g,i

JP

Morgan

Mortgage

Trust

3

.350

04/25/52

1,064,168‌

Series

-

2021

INV6

(Class

B2)

1,789,752

g,i

JP

Morgan

Mortgage

Trust

2

.500

05/25/52

1,412,109‌

Series

-

2021

14

(Class

A15)

6,046,497

g,i

JP

Morgan

Mortgage

Trust

2

.500

06/25/52

4,770,669‌

Series

-

2021

15

(Class

A15)

1,719,246

g,i

JP

Morgan

Mortgage

Trust

3

.000

08/25/52

1,389,928‌

Series

-

2022

2

(Class

A25)

4,484,423

g,i

JP

Morgan

Mortgage

Trust

3

.500

09/25/52

3,902,882‌

Series

-

2022

LTV2

(Class

A6)

415,024

JPMBB

Commercial

Mortgage

Securities

Trust

3

.657

09/15/47

407,533‌

Series

-

2014

C23

(Class

ASB)

5,000,000

JPMBB

Commercial

Mortgage

Securities

Trust

3

.634

02/15/48

4,730,617‌

Series

-

2015

C27

(Class

AS)

6,000,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

4

.776

08/15/48

5,587,436‌

Series

-

2015

C31

(Class

B)

2,500,000

g,i

JPMBB

Commercial

Mortgage

Securities

Trust

4

.394

03/17/49

2,165,154‌

Series

-

2016

C1

(Class

D1)

5,000,000

JPMDB

Commercial

Mortgage

Securities

Trust

2

.536

05/13/53

3,973,762‌

Series

-

2020

COR7

(Class

AS)

10,000,000

g

Liberty

Street

Trust

3

.597

02/10/36

9,160,731‌

Series

-

2016

225L

(Class

A)

340,590

Master

Alternative

Loan

Trust

7

.000

01/25/34

331,649‌

Series

-

2004

1

(Class

3A1)

911,278

g

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

4

.384

12/15/46

852,172‌

Series

-

2014

C19

(Class

LNC2)

2,000,000

i

Morgan

Stanley

Capital

I

Trust

3

.779

05/15/48

1,910,861‌

Series

-

2015

MS1

(Class

A4)

132,584

†,i

Morgan

Stanley

Capital

I

Trust

6

.282

12/12/49

66,789‌

Series

-

2007

IQ16

(Class

AJFX)

300,000

Morgan

Stanley

Capital

I

Trust

3

.587

12/15/50

276,634‌

Series

-

2017

HR2

(Class

A4)

2,150,000

i

Morgan

Stanley

Capital

I

Trust

4

.429

07/15/51

1,992,246‌

Series

-

2018

H3

(Class

AS)

1,075,436

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2

.500

07/25/51

922,123‌

Series

-

2021

4

(Class

A4)

3,628,021

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2

.500

08/25/51

2,862,498‌

Series

-

2021

5

(Class

A9)

3,311,193

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2

.500

09/25/51

2,860,591‌

Series

-

2021

6

(Class

A4)

2,920,187

g,i

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2

.500

09/25/51

2,304,019‌

Series

-

2021

6

(Class

A9)

1,500,000

g

MRCD

Mortgage

Trust

2

.718

12/15/36

1,318,570‌

Series

-

2019

PARK

(Class

E)

11,100,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

1.500%

4

.318

07/15/36

10,929,330‌

Series

-

2019

MILE

(Class

A)

3,000,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

3.500%

6

.318

07/15/36

2,865,503‌

Series

-

2019

MILE

(Class

E)

4,500,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

4.250%

7

.068

07/15/36

4,255,627‌

Series

-

2019

MILE

(Class

F)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

291

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

461,916

g,i

New

Residential

Mortgage

Loan

Trust

2

.797

%

09/25/59

$

423,397‌

Series

-

2019

NQM4

(Class

A3)

425,000

g,i

New

Residential

Mortgage

Loan

Trust

2

.986

09/25/59

355,983‌

Series

-

2019

NQM4

(Class

M1)

131,331

i

New

York

Mortgage

Trust

LIBOR

1

M

+

0.480%

3

.564

02/25/36

128,993‌

Series

-

2005

3

(Class

A1)

650,000

g,i

NLT

Trust

2

.569

08/25/56

461,777‌

Series

-

2021

INV2

(Class

M1)

5,358,345

g,i

OBX

Trust

2

.500

07/25/51

4,227,719‌

Series

-

2021

J2

(Class

A19)

399,437

g,i

OBX

Trust

LIBOR

1

M

+

0.650%

3

.734

06/25/57

388,113‌

Series

-

2018

1

(Class

A2)

1,635,161

g,i

Oceanview

Mortgage

Trust

2

.500

05/25/51

1,290,138‌

Series

-

2021

1

(Class

A19)

5,700,000

g

One

Bryant

Park

Trust

2

.516

09/15/54

4,694,828‌

Series

-

2019

OBP

(Class

A)

2,700,000

g,i

Onslow

Bay

Mortgage

Loan

Trust

2

.451

05/25/61

1,690,292‌

Series

-

2021

NQM2

(Class

M1)

6,757,129

g,i

RCKT

Mortgage

Trust

2

.500

02/25/52

5,331,356‌

Series

-

2022

2

(Class

A22)

1,494,651

g,i

RCKT

Mortgage

Trust

3

.500

06/25/52

1,248,715‌

Series

-

2022

4

(Class

A22)

171,628

g,i

Sequoia

Mortgage

Trust

3

.500

05/25/45

152,336‌

Series

-

2015

2

(Class

A1)

212,831

g,i

Sequoia

Mortgage

Trust

3

.500

06/25/46

192,139‌

Series

-

2016

1

(Class

A19)

631,806

g,i

Sequoia

Mortgage

Trust

3

.500

02/25/47

562,923‌

Series

-

2017

2

(Class

A19)

555,766

g,i

Sequoia

Mortgage

Trust

3

.500

04/25/47

489,355‌

Series

-

2017

3

(Class

A19)

1,200,832

g,i

Sequoia

Mortgage

Trust

3

.719

09/25/47

1,040,348‌

Series

-

2017

6

(Class

B1)

745,202

g,i

Sequoia

Mortgage

Trust

3

.500

02/25/48

670,694‌

Series

-

2018

2

(Class

A19)

238,949

g,i

Sequoia

Mortgage

Trust

3

.500

03/25/48

216,133‌

Series

-

2018

3

(Class

A1)

23,045

g,i

Sequoia

Mortgage

Trust

4

.000

09/25/48

21,785‌

Series

-

2018

7

(Class

A19)

119,862

g,i

Sequoia

Mortgage

Trust

4

.000

06/25/49

115,583‌

Series

-

2019

2

(Class

A19)

686,931

g,i

Sequoia

Mortgage

Trust

3

.500

12/25/49

610,286‌

Series

-

2019

5

(Class

A19)

1,914,999

g,i

Sequoia

Mortgage

Trust

3

.000

04/25/50

1,548,185‌

Series

-

2020

3

(Class

A19)

2,461,776

g,i

Sequoia

Mortgage

Trust

2

.500

06/25/51

1,942,334‌

Series

-

2021

4

(Class

A19)

298,857

g,i

Shellpoint

Co-Originator

Trust

3

.500

10/25/47

269,715‌

Series

-

2017

2

(Class

A1)

11,415,000

g

SLG

Office

Trust

2

.851

07/15/41

8,109,564‌

Series

-

2021

OVA

(Class

E)

2,411,476

g,i

SMR

Mortgage

Trust

5

.245

02/15/39

2,333,036‌

Series

-

2022

IND

(Class

B)

3,500,000

g,i

Spruce

Hill

Mortgage

Loan

Trust

3

.827

01/28/50

3,179,231‌

Series

-

2020

SH1

(Class

B1)

6,585,000

g,i

Structured

Agency

Credit

Risk

Debt

Note

(STACR)

4

.381

10/25/33

6,282,132‌

Series

-

2021

DNA3

(Class

M2)

12,859

g,i

STACR

3

.763

02/25/48

12,335‌

Series

-

2018

SPI1

(Class

M2)

219,003

g,i

STACR

3

.840

05/25/48

211,648‌

Series

-

2018

SPI2

(Class

M2B)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

292

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

226,398

g,i

STACR

3

.840

%

05/25/48

$

217,222‌

Series

-

2018

SPI2

(Class

M2)

1,425,000

g,i

STACR

LIBOR

1

M

+

2.700%

5

.784

10/25/49

1,356,792‌

Series

-

2019

DNA4

(Class

B1)

3,666,000

g,i

STACR

LIBOR

1

M

+

2.500%

5

.584

02/25/50

3,321,493‌

Series

-

2020

DNA2

(Class

B1)

1,000,000

g,i

UBS-Barclays

Commercial

Mortgage

Trust

3

.649

03/10/46

976,272‌

Series

-

2013

C5

(Class

B)

930,000

g,i

Verus

Securitization

Trust

3

.207

11/25/59

853,862‌

Series

-

2019

4

(Class

M1)

557,945

g

Verus

Securitization

Trust

1

.733

05/25/65

508,682‌

Series

-

2020

5

(Class

A3)

286,229

g

Verus

Securitization

Trust

2

.321

05/25/65

274,894‌

Series

-

2020

4

(Class

A3)

2,986,554

g,i

Verus

Securitization

Trust

2

.240

10/25/66

2,467,682‌

Series

-

2021

7

(Class

A3)

13,031,000

g,i

Verus

Securitization

Trust

3

.288

11/25/66

9,695,493‌

Series

-

2021

8

(Class

M1)

1,700,000

g,i

VNDO

Trust

4

.033

01/10/35

1,360,872‌

Series

-

2016

350P

(Class

E)

753,644

g

VSE

VOI

Mortgage

LLC

4

.020

02/20/36

728,495‌

Series

-

2018

A

(Class

C)

8,940

i

Washington

Mutual

Mortgage

Pass-Through

Certificates

Trust

5

.808

08/25/38

8,459‌

Series

-

2004

RA3

(Class

2A)

2,000,000

i

Wells

Fargo

Commercial

Mortgage

Trust

4

.287

05/15/48

1,749,494‌

Series

-

2015

NXS1

(Class

D)

1,200,000

g

Wells

Fargo

Commercial

Mortgage

Trust

3

.153

09/15/57

999,215‌

Series

-

2015

NXS3

(Class

D)

85,031

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

4

.000

04/25/49

82,098‌

Series

-

2019

2

(Class

A17)

182,654

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3

.000

07/25/50

149,941‌

Series

-

2020

4

(Class

A17)

7,047,795

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

2

.500

06/25/51

5,560,691‌

Series

-

2021

2

(Class

A17)

1,330,408

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3

.000

08/25/51

1,073,504‌

Series

-

2021

INV1

(Class

A17)

7,739,547

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3

.318

08/25/51

5,934,806‌

Series

-

2021

INV1

(Class

B2)

1,327,161

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

2

.500

12/25/51

1,047,127‌

Series

-

2022

2

(Class

A18)

1,727,740

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3

.000

03/25/52

1,390,428‌

Series

-

2022

INV1

(Class

A18)

2,992,745

g,i

Wells

Fargo

Mortgage

Backed

Securities

Trust

3

.500

03/25/52

2,524,453‌

Series

-

2022

INV1

(Class

A17)

5,277,000

WFRBS

Commercial

Mortgage

Trust

3

.607

11/15/47

5,084,041‌

Series

-

2014

C24

(Class

A5)

2,000,000

WF-RBS

Commercial

Mortgage

Trust

3

.337

06/15/46

1,975,507‌

Series

-

2013

C14

(Class

A5)

95,871

g,i

WinWater

Mortgage

Loan

Trust

3

.926

06/20/44

81,294‌

Series

-

2014

1

(Class

B4)

2,774,545

g,i

Woodward

Capital

Management

3

.000

05/25/52

2,232,861‌

Series

-

2022

3

(Class

A21)

TOTAL

OTHER

MORTGAGE

BACKED

444,776,438‌

TOTAL

STRUCTURED

ASSETS

784,263,391‌

(Cost

$906,077,931)

TOTAL

BONDS

4,077,143,612‌

(Cost

$4,744,691,771)

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

293

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

0.0%

ENERGY

-

0

.0

%

1,538

*,†

Cloud

Peak

Energy,

Inc

$

15‌

TOTAL

ENERGY

15‌

MATERIALS

-

0

.0

%

415,953

*

Petra

Diamonds

Ltd

490,196‌

TOTAL

MATERIALS

490,196‌

RETAILING

-

0

.0

%

7,034

*

Men's

Wearhouse

LLC

49,678‌

TOTAL

RETAILING

49,678‌

TOTAL

COMMON

STOCKS

539,889‌

(Cost

$889,413)

PREFERRED

STOCKS

-

0.2%

BANKS

-

0

.1

%

179,363

i

Wintrust

Financial

Corp

4,383,632‌

TOTAL

BANKS

4,383,632‌

DIVERSIFIED

FINANCIALS

-

0

.1

%

34,686

Morgan

Stanley

857,438‌

139,125

Morgan

Stanley

3,497,602‌

9,649

Morgan

Stanley

241,997‌

TOTAL

DIVERSIFIED

FINANCIALS

4,597,037‌

TOTAL

PREFERRED

STOCKS

8,980,669‌

(Cost

$9,136,715)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

7.4%

GOVERNMENT

AGENCY

DEBT

-

0

.8

%

$

10,000,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

%

11/07/22

9,969,423‌

5,000,000

FHLB

0

.000

12/21/22

4,962,712‌

10,000,000

FHLB

0

.000

12/28/22

9,918,842‌

10,000,000

FHLB

0

.000

02/27/23

9,848,863‌

TOTAL

GOVERNMENT

AGENCY

DEBT

34,699,840‌

REPURCHASE

AGREEMENT

-

5

.3

%

229,500,000

r

Fixed

Income

Clearing

Corp

(FICC)

2

.950

10/03/22

229,500,000‌

TOTAL

REPURCHASE

AGREEMENT

229,500,000‌

TREASURY

DEBT

-

0

.2

%

10,000,000

United

States

Treasury

Bill

0

.000

10/06/22

9,997,956‌

TOTAL

TREASURY

DEBT

9,997,956‌

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

294

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted. 

SHARES

COMPANY

RATE

EXP

VALUE

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

1

.1

%

47,413,362

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3

.070

%

$

47,413,362‌

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

47,413,362‌

TOTAL

SHORT-TERM

INVESTMENTS

321,611,158‌

(Cost

$321,700,553)

TOTAL

INVESTMENTS

-

103.2%

4,475,559,719‌

(Cost

$5,148,721,569)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(3.2)%

(

137,503,701‌

)

NET

ASSETS

-

100.0%

$

4,338,056,018‌

CNY

Chinese

Yuan

DOP

Dominican

Republic

Peso

EUR

Euro

INR

Indian

Rupee

LIBOR

London

Interbank

Offered

Rate

M

Month

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

REIT

Real

Estate

Investment

Trust

REMIC

Real

Estate

Mortgage

Investment

Conduit

SOFR

Secure

Overnight

Financing

Rate

THB

Thai

Baht

UGX

Ugandan

Shilling

UZS

Uzbekistani

Som

ZAR

South

African

Rand

*

Non-income

producing

†

Security

is

categorized

as

Level

3

in

the

fair

value

hierarchy.

‡

Perpetual

security

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

$51,328,518.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

h

All

or

a

portion

of

these

securities

were

purchased

on

a

delayed

delivery

basis.

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

j

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

collateral

requirements

on

mortgage

dollar

rolls.

k

Principal

amount

for

interest

accrual

purposes

is

periodically

adjusted

based

on

changes

in

the

Consumer

Price

Index.

o

Payment

in

Kind

Bond

q

In

default

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.950%

dated

9/30/22

to

be

repurchased

at

$229,500,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rates

0.750%–2.125%

and

maturity

date

5/31/26,

valued

at

$234,090,021.

Centrally

cleared

credit

default

swap

contracts

outstanding

as

of

September

30,

2022

were

as

follows:

PURCHASED

Reference

entity

Terms

of

payments

to

be

paid

Terms

of

payments

to

be

received

Counterparty

Fixed

rate

payment

frequency

Maturity

date

Notional

amount

*

Value

Premiums

paid

(received)

Unrealized

appreciation

(depreciation)

CDX-NAHYS38V2-5Y

5.000%

Credit

event

as

specified

in

contract

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

$

156,420,000‌

$

(

3,301,737‌

)

$

(

4,215,999‌

)

$

914,262‌

*  

The

maximum

potential

amount

the

Fund

could

be

required

to

pay

as

a

seller

of

credit

protection

or

receive

as

a

buyer

of

credit

protection

if

a

credit

event

occurs

is

defined

under

the

terms

of

that

particular

swap

agreement.

This

amount

may

be

reduced

by

any

recoverable

assets,

if

applicable.

Portfolio

of

investments

(unaudited)

Core

Plus

Bond

Fund

September

30,

2022

295

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

concluded

SOLD

Reference

entity

Terms

of

payments

to

be

paid

Terms

of

payments

to

be

received

Counterparty

Fixed

rate

payment

frequency

Maturity

date

Notional

amount

*

Value

Premiums

paid

(received)

Unrealized

appreciation

(depreciation)

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000%

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

$

20,000,000‌

$

422,163‌

$

(

73,433‌

)

$

495,596‌

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

18,000,000‌

379,947‌

54,413‌

325,534‌

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

25,000,000‌

527,704‌

506,561‌

21,143‌

CDX-NAHYS39V1-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

12/20/27

158,000,000‌

6,242,825‌

7,134,320‌

(

891,495‌

)

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

19,800,000‌

417,941‌

(

283,548‌

)

701,489‌

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

35,000,000‌

738,785‌

279,363‌

459,422‌

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

20,000,000‌

422,163‌

166,280‌

255,883‌

CDX-NAHYS38V2-5Y

Credit

event

as

specified

in

contract

5.000

Citigroup

Global

Markets,

Inc

Quarterly

06/20/27

20,000,000‌

422,163‌

286,781‌

135,382‌

Total

$

9,573,691‌

$

8,070,737‌

$

1,502,954‌

*  

The

maximum

potential

amount

the

Fund

could

be

required

to

pay

as

a

seller

of

credit

protection

or

receive

as

a

buyer

of

credit

protection

if

a

credit

event

occurs

is

defined

under

the

terms

of

that

particular

swap

agreement.

This

amount

may

be

reduced

by

any

recoverable

assets,

if

applicable.

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

September

30,

2022

Portfolio

of

investments

(unaudited)

296

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

VALUE

LONG-TERM

MUNICIPAL

BONDS

-

96.3%

ALABAMA

-

2

.4

%

$

250,000

Black

Belt

Energy

Gas

District

4

.000

%

12/01/27

$

248,992‌

500,000

City

of

Birmingham

AL

5

.000

12/01/29

541,252‌

500,000

City

of

Birmingham

AL

5

.000

12/01/30

539,786‌

630,000

County

of

Mobile

AL

5

.000

02/01/34

676,194‌

2,900,000

Lower

Alabama

Gas

District

4

.000

12/01/50

2,862,107‌

1,000,000

University

of

South

Alabama

5

.000

11/01/31

1,035,624‌

TOTAL

ALABAMA

5,903,955‌

ALASKA

-

1

.3

%

500,000

Alaska

Municipal

Bond

Bank

Authority

5

.000

12/01/31

517,920‌

2,570,000

Borough

of

Matanuska-Susitna

AK

5

.000

09/01/25

2,674,046‌

TOTAL

ALASKA

3,191,966‌

ARIZONA

-

0

.9

%

2,000,000

Chandler

Industrial

Development

Authority

5

.000

06/01/49

2,025,488‌

190,000

Pinal

County

Electric

District

No

3

5

.000

07/01/33

197,962‌

TOTAL

ARIZONA

2,223,450‌

ARKANSAS

-

0

.4

%

1,000,000

City

of

Fort

Smith

AR

Water

&

Sewer

Revenue

5

.000

10/01/32

1,055,278‌

TOTAL

ARKANSAS

1,055,278‌

CALIFORNIA

-

4

.5

%

1,090,000

California

County

Tobacco

Securitization

Agency

4

.000

06/01/36

995,445‌

365,000

California

Educational

Facilities

Authority

5

.000

12/01/29

376,390‌

1,510,000

California

Health

Facilities

Financing

Authority

5

.000

09/01/33

1,531,936‌

185,000

California

Municipal

Finance

Authority

4

.000

07/15/29

170,246‌

650,000

g

California

School

Finance

Authority

5

.000

08/01/25

666,106‌

65,000

g

California

School

Finance

Authority

5

.000

08/01/25

68,114‌

225,000

g

California

Statewide

Communities

Development

Authority

5

.000

12/01/28

225,347‌

2,000,000

City

of

Los

Angeles

Department

of

Airports

5

.000

05/15/27

2,070,022‌

1,000,000

City

of

Los

Angeles

Department

of

Airports

5

.000

05/15/36

1,021,802‌

195,000

Long

Beach

Community

College

District

3

.000

08/01/37

159,379‌

450,000

Palmdale

Community

Redevelopment

Agency

5

.000

09/01/25

469,484‌

415,000

Palmdale

Community

Redevelopment

Agency

5

.000

09/01/31

439,210‌

750,000

San

Diego

Public

Facilities

Financing

Authority

5

.000

10/15/31

791,112‌

1,405,000

San

Francisco

City

&

County

Airport

Comm-San

Francisco

International

Airport

5

.000

05/01/31

1,477,021‌

500,000

Santee

CDC

Successor

Agency

5

.000

08/01/27

528,398‌

TOTAL

CALIFORNIA

10,990,012‌

COLORADO

-

1

.6

%

1,500,000

City

&

County

of

Denver

CO

Airport

System

Revenue

5

.000

11/15/30

1,554,884‌

590,000

City

&

County

of

Denver

CO

Airport

System

Revenue

5

.000

12/01/31

609,591‌

250,000

Colorado

Health

Facilities

Authority

5

.000

12/01/41

250,939‌

310,000

Denver

Health

&

Hospital

Authority

5

.000

12/01/28

323,026‌

1,000,000

Interlocken

Metropolitan

District

5

.000

12/01/27

1,067,435‌

TOTAL

COLORADO

3,805,875‌

CONNECTICUT

-

4

.4

%

1,180,000

Capital

Region

Development

Authority

5

.000

06/15/29

1,247,349‌

765,000

Capital

Region

Development

Authority

5

.000

06/15/33

799,582‌

1,900,000

City

of

Bridgeport

CT

5

.000

06/01/34

2,027,090‌

495,000

Connecticut

State

Health

&

Educational

Facilities

Authority

5

.000

07/01/27

520,494‌

630,000

Connecticut

State

Health

&

Educational

Facilities

Authority

5

.000

07/01/29

629,834‌

Portfolio

of

investments

(unaudited)

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

September

30,

2022

297

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

VALUE

CONNECTICUT—continued

$

330,000

Connecticut

State

Health

&

Educational

Facilities

Authority

5

.000

%

07/01/30

$

328,412‌

350,000

Connecticut

State

Health

&

Educational

Facilities

Authority

5

.000

07/01/32

364,336‌

350,000

Connecticut

State

Health

&

Educational

Facilities

Authority

5

.000

07/01/33

363,371‌

300,000

Connecticut

State

Higher

Education

Supplement

Loan

Authority

5

.000

11/15/25

315,282‌

250,000

Connecticut

State

Higher

Education

Supplement

Loan

Authority

5

.000

11/15/26

266,293‌

500,000

State

of

Connecticut

Special

Tax

Revenue

5

.000

05/01/30

550,348‌

1,000,000

State

of

Connecticut

Special

Tax

Revenue

5

.000

05/01/34

1,076,766‌

2,000,000

University

of

Connecticut

5

.000

03/15/28

2,100,467‌

TOTAL

CONNECTICUT

10,589,624‌

DISTRICT

OF

COLUMBIA

-

3

.2

%

955,000

District

of

Columbia

5

.000

04/01/27

1,001,994‌

2,680,000

Metropolitan

Washington

Airports

Authority

Aviation

Revenue

5

.000

10/01/28

2,812,019‌

3,800,000

Metropolitan

Washington

Airports

Authority

Aviation

Revenue

5

.000

10/01/32

3,980,830‌

TOTAL

DISTRICT

OF

COLUMBIA

7,794,843‌

FLORIDA

-

6

.6

%

1,000,000

Alachua

County

Health

Facilities

Authority

5

.000

12/01/31

1,039,063‌

250,000

County

of

Broward

FL

Airport

System

Revenue

5

.000

10/01/27

259,437‌

250,000

County

of

Broward

FL

Airport

System

Revenue

5

.000

10/01/28

259,317‌

1,500,000

County

of

Miami-Dade

FL

Aviation

Revenue

4

.000

10/01/36

1,387,768‌

3,000,000

Escambia

County

Health

Facilities

Authority

5

.000

08/15/32

3,033,416‌

1,250,000

g

Florida

Development

Finance

Corp

7

.250

07/01/57

1,220,395‌

795,000

Greater

Orlando

Aviation

Authority

5

.000

10/01/26

837,820‌

305,000

Greater

Orlando

Aviation

Authority

5

.000

10/01/26

314,547‌

175,000

Hillsborough

County

Aviation

Authority

5

.000

10/01/31

180,769‌

185,000

Hillsborough

County

Aviation

Authority

5

.000

10/01/32

190,254‌

190,000

Hillsborough

County

Aviation

Authority

5

.000

10/01/33

194,239‌

400,000

Hillsborough

County

Port

District

5

.000

06/01/29

419,386‌

1,000,000

Hillsborough

County

Port

District

5

.000

06/01/33

1,035,368‌

210,000

Miami-Dade

County

Educational

Facilities

Authority

5

.000

04/01/28

220,895‌

1,375,000

Miami-Dade

County

Expressway

Authority

5

.000

07/01/31

1,410,398‌

255,000

Miami-Dade

County

Health

Facilities

Authority

4

.000

08/01/37

231,733‌

500,000

Pinellas

County

School

Board

4

.000

07/01/36

481,821‌

2,180,000

Port

St.

Lucie

Community

Redevelopment

Agency

5

.000

01/01/26

2,279,416‌

500,000

School

District

of

Broward

County

5

.000

07/01/31

522,016‌

540,000

Volusia

County

Educational

Facility

Authority

5

.000

10/15/32

560,706‌

TOTAL

FLORIDA

16,078,764‌

GEORGIA

-

4

.2

%

1,250,000

Brookhaven

Development

Authority

5

.000

07/01/27

1,331,124‌

1,110,000

Burke

County

Development

Authority

2

.250

10/01/32

1,098,897‌

1,000,000

Dahlonega

Downtown

Development

Authority

4

.000

07/01/37

895,777‌

1,250,000

Dahlonega

Downtown

Development

Authority

4

.000

07/01/38

1,109,249‌

1,000,000

Dahlonega

Downtown

Development

Authority

5

.000

07/01/39

1,026,868‌

250,000

Georgia

Municipal

Association,

Inc

5

.000

12/01/30

268,897‌

1,000,000

Glynn-Brunswick

Memorial

Hospital

Authority

5

.000

08/01/47

943,343‌

1,020,000

Main

Street

Natural

Gas,

Inc

4

.000

08/01/49

1,030,513‌

2,500,000

Municipal

Electric

Authority

of

Georgia

5

.000

01/01/62

2,485,425‌

TOTAL

GEORGIA

10,190,093‌

GUAM

-

0

.2

%

200,000

Port

Authority

of

Guam

5

.000

07/01/29

208,559‌

Portfolio

of

investments

(unaudited)

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

September

30,

2022

298

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

VALUE

GUAM—continued

$

200,000

Port

Authority

of

Guam

5

.000

%

07/01/30

$

207,820‌

TOTAL

GUAM

416,379‌

HAWAII

-

0

.8

%

1,000,000

State

of

Hawaii

Airports

System

Revenue

5

.000

07/01/29

1,041,759‌

1,000,000

State

of

Hawaii

Airports

System

Revenue

5

.000

07/01/41

993,348‌

TOTAL

HAWAII

2,035,107‌

ILLINOIS

-

12

.3

%

1,500,000

Chicago

Board

of

Education

5

.000

12/01/26

1,535,925‌

1,335,000

Chicago

Board

of

Education

4

.000

12/01/27

1,291,133‌

500,000

Chicago

Housing

Authority

5

.000

01/01/33

522,416‌

2,000,000

Chicago

Midway

International

Airport

5

.000

01/01/26

2,052,290‌

300,000

Chicago

O'Hare

International

Airport

5

.000

01/01/28

309,718‌

1,000,000

Chicago

O'Hare

International

Airport

5

.000

01/01/32

1,010,212‌

300,000

Chicago

Transit

Authority

5

.000

06/01/28

317,349‌

3,250,000

City

of

Chicago

IL

5

.000

01/01/28

3,312,502‌

1,000,000

City

of

Chicago

IL

4

.000

01/01/35

887,243‌

1,000,000

City

of

Chicago

IL

Wastewater

Transmission

Revenue

5

.000

01/01/26

1,035,974‌

1,250,000

City

of

Chicago

IL,

GO

5

.000

01/01/29

1,268,642‌

1,500,000

City

of

Chicago

IL,

GO

5

.500

01/01/35

1,506,128‌

650,000

City

of

Chicago

IL,

GO

5

.500

01/01/37

651,975‌

500,000

City

of

Chicago

IL,

GO

5

.500

01/01/42

501,310‌

150,000

Cook

County

School

District

No

78

Rosemont

5

.000

12/01/31

164,438‌

1,750,000

County

of

Cook

IL

5

.000

11/15/31

1,822,931‌

1,160,000

County

of

Cook

IL

Sales

Tax

Revenue

5

.000

11/15/36

1,206,076‌

700,000

Illinois

State

Toll

Highway

Authority

4

.000

01/01/42

643,351‌

630,000

Illinois

State

Toll

Highway

Authority

4

.000

01/01/46

560,630‌

305,000

Metropolitan

Pier

&

Exposition

Authority

4

.000

06/15/52

231,877‌

2,000,000

Metropolitan

Water

Reclamation

District

of

Greater

Chicago

5

.000

12/01/30

2,100,575‌

1,500,000

Sales

Tax

Securitization

Corp

5

.000

01/01/30

1,567,397‌

115,000

Sales

Tax

Securitization

Corp

2

.857

01/01/31

95,561‌

2,000,000

State

of

Illinois

5

.000

06/01/28

2,031,917‌

1,500,000

State

of

Illinois

5

.000

03/01/37

1,477,238‌

250,000

Village

of

Broadview

IL

5

.000

12/01/28

270,526‌

200,000

Village

of

Broadview

IL

5

.000

12/01/29

216,148‌

545,000

Village

of

Broadview

IL

5

.000

12/01/30

590,219‌

745,000

Village

of

Broadview

IL

5

.000

12/01/33

799,859‌

TOTAL

ILLINOIS

29,981,560‌

INDIANA

-

0

.6

%

1,365,000

City

of

Whiting

IN

5

.000

12/01/44

1,402,167‌

TOTAL

INDIANA

1,402,167‌

IOWA

-

0

.2

%

475,000

Iowa

Higher

Education

Loan

Authority

5

.000

10/01/27

509,513‌

TOTAL

IOWA

509,513‌

KENTUCKY

-

1

.1

%

1,250,000

Paducah

Electric

Plant

Board

5

.000

10/01/34

1,323,055‌

1,250,000

Paducah

Electric

Plant

Board

5

.000

10/01/35

1,322,099‌

TOTAL

KENTUCKY

2,645,154‌

LOUISIANA

-

1

.3

%

480,000

City

of

New

Orleans

LA

Sewerage

Service

Revenue

4

.000

06/01/36

465,428‌

750,000

Louisiana

Local

Government

Environmental

Facilities

&

Community

Development

Authority

5

.000

10/01/27

786,925‌

500,000

New

Orleans

Aviation

Board

5

.000

10/01/33

527,767‌

1,250,000

St.

Tammany

Parish

Hospital

Service

District

No

5

.000

07/01/33

1,284,178‌

TOTAL

LOUISIANA

3,064,298‌

Portfolio

of

investments

(unaudited)

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

September

30,

2022

299

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

VALUE

MAINE

-

0

.0

%

$

750,000

†,g,q

Finance

Authority

of

Maine

5

.375

%

12/15/33

$

5,100‌

TOTAL

MAINE

5,100‌

MARYLAND

-

0

.8

%

2,000,000

County

of

Baltimore

MD

4

.000

01/01/29

2,015,531‌

TOTAL

MARYLAND

2,015,531‌

MASSACHUSETTS

-

1

.2

%

500,000

Massachusetts

Development

Finance

Agency

5

.000

12/01/29

519,252‌

2,100,000

University

of

Massachusetts

Building

Authority

5

.000

11/01/29

2,329,112‌

TOTAL

MASSACHUSETTS

2,848,364‌

MICHIGAN

-

3

.0

%

500,000

Charlotte

Public

School

District

4

.000

05/01/36

493,910‌

2,000,000

Michigan

Finance

Authority

5

.000

11/15/28

2,073,811‌

1,000,000

Michigan

Finance

Authority

5

.000

12/01/36

1,046,077‌

1,750,000

State

of

Michigan

Trunk

Line

Revenue

5

.000

11/15/30

1,952,741‌

1,250,000

Wayne

County

Airport

Authority

5

.000

12/01/29

1,304,758‌

385,000

Wayne

County

Airport

Authority

5

.000

12/01/29

412,656‌

TOTAL

MICHIGAN

7,283,953‌

MINNESOTA

-

0

.7

%

1,055,000

City

of

Minneapolis

MN

5

.000

11/15/33

1,084,176‌

70,000

Duluth

Economic

Development

Authority

5

.000

02/15/33

71,549‌

500,000

Northern

Municipal

Power

Agency

5

.000

01/01/28

525,308‌

TOTAL

MINNESOTA

1,681,033‌

MISSISSIPPI

-

1

.3

%

1,045,000

Mississippi

Development

Bank

5

.000

03/01/26

1,090,447‌

1,000,000

Mississippi

Development

Bank

5

.000

06/01/27

1,061,697‌

1,000,000

Mississippi

Development

Bank

5

.000

03/01/35

1,027,110‌

TOTAL

MISSISSIPPI

3,179,254‌

MISSOURI

-

2

.9

%

1,225,000

City

of

Kansas

City

MO

5

.000

10/01/26

1,282,666‌

2,500,000

City

of

Kansas

City

MO

Sanitary

Sewer

System

Revenue

3

.000

01/01/37

1,982,509‌

1,000,000

City

of

St.

Louis

MO

Parking

Revenue

5

.000

12/15/26

1,045,963‌

900,000

Health

&

Educational

Facilities

Authority

of

the

State

of

Missouri

5

.000

02/15/28

946,179‌

1,745,000

St.

Louis

Municipal

Finance

Corp

5

.000

02/15/26

1,831,263‌

TOTAL

MISSOURI

7,088,580‌

NEVADA

-

0

.4

%

1,000,000

Las

Vegas

Redevelopment

Agency

5

.000

06/15/26

1,030,666‌

TOTAL

NEVADA

1,030,666‌

NEW

HAMPSHIRE

-

0

.1

%

130,000

New

Hampshire

Business

Finance

Authority

5

.000

04/01/31

136,764‌

TOTAL

NEW

HAMPSHIRE

136,764‌

NEW

JERSEY

-

5

.4

%

350,000

Gloucester

County

Improvement

Authority

5

.000

07/01/34

371,597‌

1,000,000

New

Jersey

Economic

Development

Authority

5

.000

06/15/27

1,036,708‌

2,500,000

New

Jersey

Economic

Development

Authority

5

.000

11/01/35

2,530,173‌

1,000,000

New

Jersey

Educational

Facilities

Authority

5

.000

07/01/27

1,046,713‌

1,000,000

New

Jersey

Transportation

Trust

Fund

Authority

5

.000

06/15/29

1,035,635‌

765,000

New

Jersey

Transportation

Trust

Fund

Authority

5

.000

12/15/33

778,330‌

1,120,000

New

Jersey

Transportation

Trust

Fund

Authority

4

.000

06/15/34

1,032,184‌

3,000,000

New

Jersey

Transportation

Trust

Fund

Authority

5

.000

06/15/34

3,036,475‌

1,000,000

New

Jersey

Transportation

Trust

Fund

Authority

4

.000

06/15/36

901,287‌

1,025,000

New

Jersey

Transportation

Trust

Fund

Authority

4

.000

06/15/39

896,929‌

Portfolio

of

investments

(unaudited)

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

September

30,

2022

300

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

VALUE

NEW

JERSEY—continued

$

500,000

South

Jersey

Port

Corp

5

.000

%

01/01/48

$

470,635‌

TOTAL

NEW

JERSEY

13,136,666‌

NEW

YORK

-

5

.5

%

1,000,000

Brooklyn

Arena

Local

Development

Corp

5

.000

07/15/26

1,018,181‌

10,000

Metropolitan

Transportation

Authority

4

.000

11/15/34

9,090‌

1,250,000

Metropolitan

Transportation

Authority

5

.000

11/15/50

1,183,859‌

160,000

New

York

City

Industrial

Development

Agency

3

.000

01/01/46

109,956‌

1,750,000

New

York

State

Dormitory

Authority

5

.000

07/01/33

1,782,573‌

1,000,000

New

York

State

Urban

Development

Corp

5

.000

03/15/35

1,065,456‌

375,000

New

York

Transportation

Development

Corp

5

.000

07/01/30

379,557‌

1,080,000

New

York

Transportation

Development

Corp

4

.000

10/01/30

1,014,311‌

715,000

New

York

Transportation

Development

Corp

5

.000

01/01/36

686,107‌

505,000

New

York

Transportation

Development

Corp

5

.000

12/01/36

508,905‌

635,000

New

York

Transportation

Development

Corp

5

.000

12/01/36

619,051‌

1,500,000

Port

Authority

of

New

York

&

New

Jersey

5

.000

07/15/31

1,587,656‌

1,000,000

Port

Authority

of

New

York

&

New

Jersey

4

.000

11/01/34

938,146‌

1,000,000

Port

Authority

of

New

York

&

New

Jersey

5

.000

11/01/35

1,019,883‌

1,625,000

Port

Authority

of

New

York

&

New

Jersey

4

.000

07/15/36

1,491,226‌

TOTAL

NEW

YORK

13,413,957‌

NORTH

CAROLINA

-

1

.2

%

1,355,000

County

of

Duplin

NC

5

.000

04/01/27

1,421,349‌

1,000,000

North

Carolina

Capital

Facilities

Finance

Agency

5

.000

05/01/31

1,072,028‌

210,000

North

Carolina

Medical

Care

Commission

4

.000

02/01/36

197,243‌

255,000

North

Carolina

Medical

Care

Commission

3

.000

07/01/36

215,888‌

TOTAL

NORTH

CAROLINA

2,906,508‌

NORTH

DAKOTA

-

0

.4

%

1,000,000

North

Dakota

Housing

Finance

Agency

2

.400

01/01/26

961,256‌

TOTAL

NORTH

DAKOTA

961,256‌

OHIO

-

2

.8

%

1,000,000

American

Municipal

Power,

Inc

5

.000

02/15/34

1,059,036‌

1,000,000

City

of

Cleveland

OH

Airport

System

Revenue

5

.000

01/01/27

1,032,902‌

200,000

City

of

Cleveland

OH

Income

Tax

Revenue

5

.000

10/01/27

215,484‌

250,000

City

of

Cleveland

OH

Income

Tax

Revenue

5

.000

10/01/28

269,296‌

240,000

City

of

Toledo

OH

4

.000

12/01/29

245,266‌

250,000

City

of

Toledo

OH

4

.000

12/01/30

257,356‌

200,000

City

of

Toledo

OH

4

.000

12/01/31

204,836‌

1,500,000

County

of

Miami

OH

5

.000

08/01/32

1,546,077‌

725,000

County

of

Montgomery

OH

5

.000

08/01/36

745,148‌

300,000

Lebanon

City

School

District

3

.000

12/01/36

246,478‌

700,000

Miami

University

5

.000

09/01/28

756,965‌

175,000

State

of

Ohio

5

.000

01/15/35

179,994‌

TOTAL

OHIO

6,758,838‌

OKLAHOMA

-

0

.8

%

750,000

Oklahoma

Development

Finance

Authority

5

.000

08/15/28

720,337‌

1,500,000

Oklahoma

Development

Finance

Authority

5

.250

08/15/48

1,244,752‌

TOTAL

OKLAHOMA

1,965,089‌

OREGON

-

0

.6

%

3,000,000

†,g,q

Oregon

State

Business

Development

Commission

6

.500

04/01/31

219,000‌

1,000,000

†,q

Oregon

State

Business

Development

Commission

11

.500

04/01/31

60,000‌

625,000

†,g

Oregon

State

Business

Development

Commission

9

.000

04/01/37

45,625‌

1,000,000

Tri-County

Metropolitan

Transportation

District

of

Oregon

5

.000

10/01/28

1,069,437‌

TOTAL

OREGON

1,394,062‌

PENNSYLVANIA

-

3

.1

%

1,100,000

Allegheny

County

Higher

Education

Building

Authority

5

.000

03/01/29

1,136,111‌

Portfolio

of

investments

(unaudited)

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

September

30,

2022

301

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

VALUE

PENNSYLVANIA—continued

$

740,000

Coatesville

School

District

5

.000

%

08/01/25

$

772,808‌

500,000

Lancaster

County

Career

&

Technology

Center

Authority

4

.000

02/01/25

506,612‌

500,000

Lancaster

County

Career

&

Technology

Center

Authority

4

.000

02/01/26

509,021‌

670,000

Lancaster

County

Career

&

Technology

Center

Authority

4

.000

02/01/30

682,179‌

500,000

Pennsylvania

Economic

Development

Financing

Authority

5

.000

10/15/34

518,483‌

415,000

Pittsburgh

Water

&

Sewer

Authority

5

.000

09/01/27

444,120‌

1,500,000

School

District

of

the

City

of

Erie

5

.000

04/01/28

1,603,019‌

500,000

South

Wayne

County

Water

and

Sewer

Authority

4

.000

02/15/37

475,119‌

915,000

Township

of

Northampton

PA

4

.000

05/15/33

919,902‌

TOTAL

PENNSYLVANIA

7,567,374‌

RHODE

ISLAND

-

0

.4

%

825,000

Rhode

Island

Commerce

Corp

5

.000

06/15/27

875,899‌

TOTAL

RHODE

ISLAND

875,899‌

SOUTH

CAROLINA

-

2

.0

%

2,000,000

Center

for

Arts

&

Health

Sciences

Public

Facilities

Corp

4

.000

10/01/37

1,954,102‌

265,000

City

of

Rock

Hill

SC

Combined

Utility

System

Revenue

5

.000

01/01/27

279,518‌

170,000

City

of

Rock

Hill

SC

Combined

Utility

System

Revenue

5

.000

01/01/28

181,205‌

265,000

City

of

Rock

Hill

SC

Combined

Utility

System

Revenue

5

.000

01/01/29

285,284‌

500,000

South

Carolina

Public

Service

Authority

4

.000

12/01/37

445,483‌

890,000

South

Carolina

Public

Service

Authority

4

.000

12/01/40

772,838‌

1,000,000

Spartanburg

Regional

Health

Services

District

4

.000

04/15/37

909,805‌

TOTAL

SOUTH

CAROLINA

4,828,235‌

TENNESSEE

-

1

.3

%

180,000

Metropolitan

Government

Nashville

&

Davidson

County

Health

&

Educational

Facs

Bd

4

.000

05/01/37

160,168‌

2,305,000

Metropolitan

Nashville

Airport

Authority

5

.000

07/01/35

2,354,198‌

755,000

Tennessee

Energy

Acquisition

Corp

4

.000

11/01/49

747,702‌

TOTAL

TENNESSEE

3,262,068‌

TEXAS

-

9

.6

%

350,000

Atascosa

County

Industrial

Development

Corp

5

.000

12/15/28

366,918‌

350,000

Atascosa

County

Industrial

Development

Corp

5

.000

12/15/29

368,621‌

400,000

Atascosa

County

Industrial

Development

Corp

5

.000

12/15/30

421,908‌

1,100,000

Central

Texas

Regional

Mobility

Authority

5

.000

01/01/27

1,146,186‌

1,210,000

Central

Texas

Regional

Mobility

Authority

5

.000

01/01/29

1,260,941‌

750,000

Central

Texas

Regional

Mobility

Authority

4

.000

01/01/36

689,576‌

400,000

City

of

Austin

TX

Airport

System

Revenue

5

.000

11/15/27

423,636‌

900,000

City

of

Austin

TX

Airport

System

Revenue

5

.000

11/15/39

902,186‌

1,000,000

City

of

El

Paso

TX

4

.000

08/15/35

983,371‌

2,000,000

City

of

El

Paso

TX

Airport

Revenue

5

.000

08/15/28

2,086,104‌

1,970,000

City

of

Houston

TX

5

.000

03/01/32

2,083,746‌

3,000,000

City

of

Houston

TX

Combined

Utility

System

Revenue

5

.000

11/15/29

3,292,494‌

1,000,000

Conroe

Independent

School

District

2

.500

02/15/37

773,443‌

500,000

County

of

Galveston

TX

4

.000

02/01/38

473,219‌

150,000

Harris

County

Toll

Road

Authority

4

.000

08/15/36

145,321‌

1,000,000

North

Texas

Tollway

Authority

5

.000

01/01/30

1,066,823‌

420,000

Port

Freeport

TX

5

.000

06/01/28

441,236‌

825,000

Port

Freeport

TX

5

.000

06/01/29

865,410‌

865,000

Port

Freeport

TX

5

.000

06/01/30

905,673‌

935,000

Port

Freeport

TX

5

.000

06/01/32

972,943‌

2,500,000

Texas

Private

Activity

Bond

Surface

Transportation

Corp

5

.000

12/31/35

2,497,397‌

1,000,000

University

of

North

Texas

5

.000

04/15/27

1,061,964‌

TOTAL

TEXAS

23,229,116‌

UTAH

-

1

.0

%

475,000

Salt

Lake

City

Corp

Airport

Revenue

5

.000

07/01/31

490,485‌

1,000,000

Salt

Lake

City

Corp

Airport

Revenue

5

.000

07/01/32

1,026,478‌

Portfolio

of

investments

(unaudited)

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

September

30,

2022

302

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

VALUE

UTAH—continued

$

1,000,000

Salt

Lake

City

Corp

Airport

Revenue

5

.000

%

07/01/33

$

1,017,203‌

TOTAL

UTAH

2,534,166‌

VIRGIN

ISLANDS

-

1

.9

%

2,000,000

g

Virgin

Islands

Public

Finance

Authority

5

.000

09/01/25

2,052,553‌

2,500,000

g

Virgin

Islands

Public

Finance

Authority

5

.000

09/01/33

2,582,158‌

TOTAL

VIRGIN

ISLANDS

4,634,711‌

VIRGINIA

-

0

.9

%

2,000,000

Virginia

Small

Business

Financing

Authority

4

.000

01/01/36

1,815,103‌

400,000

Virginia

Small

Business

Financing

Authority

5

.000

12/31/47

392,255‌

TOTAL

VIRGINIA

2,207,358‌

WASHINGTON

-

1

.7

%

500,000

Klickitat

County

Public

Utility

District

No

5

.000

12/01/27

538,602‌

1,000,000

Pend

Oreille

County

Public

Utility

District

No  Box

Canyon

5

.000

01/01/29

1,033,519‌

1,000,000

Pierce

County

School

District

No

403

Bethel

4

.000

12/01/37

986,491‌

1,500,000

Washington

Health

Care

Facilities

Authority

4

.000

10/01/42

1,488,079‌

TOTAL

WASHINGTON

4,046,691‌

WEST

VIRGINIA

-

1

.3

%

1,000,000

West

Virginia

Higher

Education

Policy

Commission

5

.000

07/01/27

1,069,410‌

750,000

West

Virginia

Hospital

Finance

Authority

5

.000

01/01/29

767,782‌

1,215,000

West

Virginia

Hospital

Finance

Authority

5

.000

01/01/30

1,237,134‌

TOTAL

WEST

VIRGINIA

3,074,326‌

TOTAL

LONG-TERM

MUNICIPAL

BONDS

233,943,603‌

(Cost

$262,390,070)

REFERENCERATE

&

SPREAD

SHORT-TERM

INVESTMENTS

-

2.4%

GOVERNMENT

AGENCY

DEBT

-

2

.4

%

5,860,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

10/03/22

5,860,000‌

TOTAL

GOVERNMENT

AGENCY

DEBT

5,860,000‌

TOTAL

SHORT-TERM

INVESTMENTS

5,860,000‌

(Cost

$5,859,154)

TOTAL

INVESTMENTS

-

98.7%

239,803,603‌

(Cost

$268,249,224)

OTHER

ASSETS

&

LIABILITIES,

NET

-

1.3%

3,211,493‌

NET

ASSETS

-

100.0%

$

243,015,096‌

GO

General

Obligation

†

Security

is

categorized

as

Level

3

in

the

fair

value

hierarchy.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

q

In

default

Portfolio

of

investments

(unaudited)

Green

Bond

Fund

September

30,

2022

303

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANK

LOAN

OBLIGATIONS

-

1.4%

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.3

%

$

493,750

i

LTR

Intermediate

Holdings,

Inc

LIBOR

4

M

+

4.500%

8

.174

%

05/05/28

$

451,782‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

451,782‌

UTILITIES

-

1

.1

%

461,237

i

Exgen

Renewables

IV

LLC

LIBOR

4

M

+

2.500%

5

.570

12/15/27

452,762‌

997,500

i

TerraForm

Power

Operating

LLC

SOFR

4M

+

2.750%

6

.403

05/21/29

989,395‌

TOTAL

UTILITIES

1,442,157‌

TOTAL

BANK

LOAN

OBLIGATIONS

1,893,939‌

(Cost

$1,931,640)

BONDS

-

92.5%

CORPORATE

BONDS

-

55

.8

%

AUTOMOBILES

&

COMPONENTS

-

2

.1

%

1,250,000

Ford

Motor

Co

3

.250

02/12/32

900,412‌

775,000

General

Motors

Co

5

.400

10/15/29

714,586‌

1,000,000

General

Motors

Co

5

.600

10/15/32

892,647‌

350,000

g

Hyundai

Capital

Services,

Inc

1

.250

02/08/26

304,218‌

TOTAL

AUTOMOBILES

&

COMPONENTS

2,811,863‌

BANKS

-

7

.4

%

1,200,000

g

ABN

AMRO

Bank

NV

2

.470

12/13/29

951,203‌

250,000

g

Bank

Hapoalim

BM

3

.255

01/21/32

207,490‌

1,000,000

Bank

of

America

Corp

0

.981

09/25/25

909,833‌

1,000,000

Bank

of

America

Corp

2

.456

10/22/25

936,284‌

1,000,000

Bank

of

Nova

Scotia

2

.375

01/18/23

993,655‌

250,000

Citigroup,

Inc

0

.776

10/30/24

237,415‌

1,000,000

g

ING

Groep

NV

1

.400

07/01/26

882,985‌

1,000,000

JPMorgan

Chase

&

Co

0

.768

08/09/25

916,739‌

1,000,000

National

Bank

of

Canada

0

.550

11/15/24

946,664‌

250,000

NatWest

Group

plc

2

.359

05/22/24

244,127‌

825,000

Santander

Holdings

USA,

Inc

5

.807

09/09/26

806,344‌

200,000

g

Shinhan

Financial

Group

Co

Ltd

3

.340

02/05/30

187,086‌

1,000,000

g

USAA

Capital

Corp

2

.125

05/01/30

803,045‌

1,000,000

Wells

Fargo

&

Co

4

.540

08/15/26

967,405‌

TOTAL

BANKS

9,990,275‌

CAPITAL

GOODS

-

1

.7

%

250,000

Johnson

Controls

International

plc

1

.750

09/15/30

193,369‌

625,000

g

Korea

East-West

Power

Co

Ltd

3

.600

05/06/25

603,527‌

1,000,000

Xylem,

Inc

1

.950

01/30/28

843,983‌

755,000

Xylem,

Inc

2

.250

01/30/31

603,646‌

TOTAL

CAPITAL

GOODS

2,244,525‌

CONSUMER

DURABLES

&

APPAREL

-

0

.1

%

250,000

Whirlpool

Corp

2

.400

05/15/31

191,850‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

191,850‌

CONSUMER

SERVICES

-

1

.9

%

1,250,000

Conservation

Fund

3

.474

12/15/29

1,069,051‌

260,000

i

Nature

Conservancy

LIBOR

3

M

+

1.080%

3

.862

02/01/24

259,533‌

500,000

Nature

Conservancy

1

.511

07/01/29

410,905‌

1,000,000

Nature

Conservancy

3

.957

03/01/52

813,872‌

TOTAL

CONSUMER

SERVICES

2,553,361‌

Portfolio

of

investments

(unaudited)

Green

Bond

Fund

September

30,

2022

304

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS

-

3

.8

%

$

2,000,000

g

Cooperatieve

Rabobank

UA

1

.004

%

09/24/26

$

1,738,888‌

1,000,000

Goldman

Sachs

Group,

Inc

4

.387

06/15/27

952,627‌

1,000,000

National

Rural

Utilities

Cooperative

Finance

Corp

4

.150

12/15/32

915,019‌

285,000

g

Starwood

Property

Trust,

Inc

4

.375

01/15/27

242,958‌

1,000,000

Toyota

Motor

Credit

Corp

2

.150

02/13/30

821,144‌

500,000

g

WLB

Asset

II

C

Pte

Ltd

3

.900

12/23/25

474,879‌

TOTAL

DIVERSIFIED

FINANCIALS

5,145,515‌

ENERGY

-

0

.2

%

270,000

e,g

Sunnova

Energy

Corp

5

.875

09/01/26

241,256‌

TOTAL

ENERGY

241,256‌

FOOD

&

STAPLES

RETAILING

-

1

.5

%

1,000,000

SYSCO

Corp

2

.400

02/15/30

813,832‌

1,575,000

Walmart,

Inc

1

.800

09/22/31

1,251,289‌

TOTAL

FOOD

&

STAPLES

RETAILING

2,065,121‌

FOOD,

BEVERAGE

&

TOBACCO

-

1

.4

%

250,000

g

NBM

US

Holdings,

Inc

6

.625

08/06/29

228,094‌

1,000,000

PepsiCo,

Inc

3

.900

07/18/32

924,387‌

1,000,000

PepsiCo,

Inc

2

.875

10/15/49

700,572‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

1,853,053‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0

.6

%

1,000,000

Kaiser

Foundation

Hospitals

2

.810

06/01/41

697,874‌

250,000

Stanford

Health

Care

3

.027

08/15/51

165,423‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

863,297‌

INSURANCE

-

1

.3

%

1,000,000

Aflac,

Inc

1

.125

03/15/26

881,382‌

1,000,000

g

Muenchener

Rueckversicherungs-Gesellschaft

AG.

in

Muenchen

5

.875

05/23/42

942,600‌

TOTAL

INSURANCE

1,823,982‌

MATERIALS

-

2

.6

%

1,000,000

g

FMG

Resources

August

2006

Pty

Ltd

6

.125

04/15/32

859,250‌

570,000

g

LG

Chem

Ltd

4

.375

07/14/25

556,691‌

500,000

g

LG

Chem

Ltd

3

.625

04/15/29

451,251‌

1,000,000

Sonoco

Products

Co

2

.250

02/01/27

885,641‌

1,000,000

Sonoco

Products

Co

2

.850

02/01/32

792,337‌

TOTAL

MATERIALS

3,545,170‌

MEDIA

&

ENTERTAINMENT

-

0

.5

%

750,000

†

Family

Forest

Impact

Foundation

LLC

5

.500

07/01/32

704,035‌

TOTAL

MEDIA

&

ENTERTAINMENT

704,035‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0

.6

%

1,000,000

Pfizer,

Inc

2

.625

04/01/30

859,095‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

859,095‌

REAL

ESTATE

-

3

.3

%

1,000,000

Alexandria

Real

Estate

Equities,

Inc

2

.950

03/15/34

773,178‌

406,000

ERP

Operating

LP

4

.150

12/01/28

373,153‌

1,300,000

Federal

Realty

Investment

Trust

1

.250

02/15/26

1,143,936‌

250,000

e,g

HAT

Holdings

I

LLC

6

.000

04/15/25

235,198‌

250,000

g

HAT

Holdings

I

LLC

3

.375

06/15/26

200,625‌

250,000

g

HAT

Holdings

I

LLC

3

.750

09/15/30

181,800‌

1,000,000

Host

Hotels

&

Resorts

LP

2

.900

12/15/31

733,919‌

1,000,000

Kilroy

Realty

LP

2

.650

11/15/33

701,342‌

Portfolio

of

investments

(unaudited)

Green

Bond

Fund

September

30,

2022

305

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE—continued

$

250,000

UDR,

Inc

1

.900

%

03/15/33

$

173,267‌

TOTAL

REAL

ESTATE

4,516,418‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

1

.3

%

1,000,000

Intel

Corp

4

.150

08/05/32

910,641‌

1,000,000

NXP

BV

3

.400

05/01/30

833,388‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

1,744,029‌

SOFTWARE

&

SERVICES

-

0

.6

%

1,000,000

Mastercard,

Inc

1

.900

03/15/31

797,668‌

TOTAL

SOFTWARE

&

SERVICES

797,668‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

1

.8

%

1,000,000

Apple,

Inc

2

.850

02/23/23

995,563‌

1,600,000

Apple,

Inc

3

.000

06/20/27

1,503,347‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

2,498,910‌

TELECOMMUNICATION

SERVICES

-

1

.6

%

1,000,000

Verizon

Communications,

Inc

1

.500

09/18/30

751,746‌

1,000,000

Verizon

Communications,

Inc

2

.850

09/03/41

666,760‌

1,000,000

Verizon

Communications,

Inc

3

.875

03/01/52

743,734‌

TOTAL

TELECOMMUNICATION

SERVICES

2,162,240‌

UTILITIES

-

21

.5

%

1,000,000

AES

Corp

2

.450

01/15/31

765,006‌

250,000

g

AES

Gener

S.A.

6

.350

10/07/79

215,054‌

527,000

Ameren

Illinois

Co

2

.900

06/15/51

339,417‌

270,000

g

Atlantica

Sustainable

Infrastructure

plc

4

.125

06/15/28

227,320‌

1,000,000

Avangrid,

Inc

3

.150

12/01/24

956,025‌

215,000

g

Consorcio

Transmantaro

SA

4

.700

04/16/34

185,454‌

241,875

g

Continuum

Energy

Levanter

Pte

Ltd

4

.500

02/09/27

195,152‌

1,000,000

DTE

Electric

Co

1

.900

04/01/28

850,905‌

1,000,000

Duke

Energy

Carolinas

LLC

2

.850

03/15/32

828,066‌

1,000,000

Duke

Energy

Florida

LLC

2

.500

12/01/29

845,198‌

1,000,000

Duke

Energy

Progress

LLC

3

.450

03/15/29

906,697‌

1,000,000

Duke

Energy

Progress

LLC

4

.000

04/01/52

783,370‌

250,000

g

Electricite

de

France

S.A.

3

.625

10/13/25

240,137‌

250,000

Evergy,

Inc

2

.550

07/01/26

228,866‌

1,000,000

Georgia

Power

Co

3

.250

04/01/26

937,189‌

284,100

g

India

Cleantech

Energy

4

.700

08/10/26

215,205‌

1,650,000

Interstate

Power

&

Light

Co

3

.600

04/01/29

1,492,207‌

1,000,000

g

Liberty

Utilities

Finance

GP

2

.050

09/15/30

756,760‌

1,000,000

MidAmerican

Energy

Co

3

.100

05/01/27

926,390‌

500,000

MidAmerican

Energy

Co

2

.700

08/01/52

314,031‌

1,075,000

g

New

York

State

Electric

&

Gas

Corp

2

.150

10/01/31

832,613‌

1,000,000

g

Niagara

Mohawk

Power

Corp

1

.960

06/27/30

771,782‌

500,000

Northwest

Natural

Gas

Co

3

.078

12/01/51

294,949‌

250,000

NorthWestern

Corp

4

.176

11/15/44

198,456‌

1,000,000

PacifiCorp

2

.900

06/15/52

639,878‌

529,000

Public

Service

Co

of

Colorado

3

.700

06/15/28

493,941‌

1,000,000

Public

Service

Co

of

Colorado

3

.200

03/01/50

701,106‌

1,000,000

Public

Service

Co

of

Oklahoma

2

.200

08/15/31

778,389‌

1,000,000

e

Public

Service

Electric

and

Gas

Co

3

.100

03/15/32

851,897‌

1,000,000

San

Diego

Gas

&

Electric

Co

2

.950

08/15/51

649,605‌

1,000,000

SCE

Recovery

Funding

LLC

2

.943

11/15/42

774,626‌

960,000

SCE

Recovery

Funding

LLC

3

.240

11/15/46

704,548‌

250,000

g

Sociedad

de

Transmision

Austral

S.A.

4

.000

01/27/32

202,651‌

1,000,000

Southern

California

Edison

Co

2

.750

02/01/32

792,071‌

1,162,000

Southern

California

Edison

Co

3

.650

06/01/51

808,877‌

1,500,000

Southern

Power

Co

4

.150

12/01/25

1,447,657‌

Portfolio

of

investments

(unaudited)

Green

Bond

Fund

September

30,

2022

306

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

1,000,000

Southwestern

Electric

Power

Co

3

.250

%

11/01/51

$

635,442‌

1,000,000

Southwestern

Public

Service

Co

3

.150

05/01/50

682,231‌

205,675

g

Star

Energy

Geothermal

Wayang

Windu

Ltd

6

.750

04/24/33

186,650‌

496,605

g

Sweihan

PV

Power

Co

PJSC

3

.625

01/31/49

391,188‌

323,362

g

Topaz

Solar

Farms

LLC

4

.875

09/30/39

281,325‌

189,725

g

UEP

Penonome

II

S.A.

6

.500

10/01/38

163,163‌

1,000,000

Union

Electric

Co

2

.150

03/15/32

772,270‌

500,000

Union

Electric

Co

2

.625

03/15/51

307,444‌

1,075,000

Union

Electric

Co

3

.900

04/01/52

844,106‌

1,050,000

g

Vistra

Corp

7

.000

N/A‡

916,661‌

1,000,000

Wisconsin

Power

and

Light

Co

3

.950

09/01/32

903,590‌

TOTAL

UTILITIES

29,235,565‌

TOTAL

CORPORATE

BONDS

75,847,228‌

(Cost

$86,361,593)

GOVERNMENT

BONDS

-

21

.0

%

AGENCY

SECURITIES

-

1

.8

%

209,933

Overseas

Private

Investment

Corp

(OPIC)

1

.790

10/15/29

189,186‌

209,933

OPIC

2

.360

10/15/29

193,245‌

1,595,153

OPIC

3

.430

06/01/33

1,492,391‌

250,000

United

States

International

Development

Finance

Corp

1

.650

04/15/28

218,208‌

209,933

United

States

International

Development

Finance

Corp

1

.050

10/15/29

183,970‌

240,176

United

States

International

Development

Finance

Corp

1

.630

07/15/38

191,698‌

TOTAL

AGENCY

SECURITIES

2,468,698‌

FOREIGN

GOVERNMENT

BONDS

-

12

.4

%

300,000

g

Arab

Petroleum

Investments

Corp

1

.483

10/06/26

265,278‌

579,000

Asian

Development

Bank

1

.750

08/14/26

524,977‌

750,000

Asian

Development

Bank

3

.125

09/26/28

704,084‌

250,000

g

CDP

Financial,

Inc

1

.000

05/26/26

220,437‌

250,000

Chile

Government

International

Bond

3

.500

01/25/50

169,814‌

250,000

European

Bank

for

Reconstruction

&

Development

1

.625

09/27/24

237,104‌

1,000,000

g

European

Investment

Bank

2

.875

06/13/25

963,090‌

1,250,000

European

Investment

Bank

0

.625

10/21/27

1,049,235‌

830,000

European

Investment

Bank

3

.250

11/15/27

794,452‌

250,000

European

Investment

Bank

1

.625

10/09/29

213,098‌

2,000,000

European

Investment

Bank

0

.750

09/23/30

1,554,896‌

1,000,000

Hydro-Quebec

8

.050

07/07/24

1,057,865‌

1,000,000

Inter-American

Investment

Corp

2

.625

04/22/25

955,564‌

500,000

International

Bank

for

Reconstruction

&

Development

2

.125

03/03/25

473,686‌

500,000

International

Bank

for

Reconstruction

&

Development

3

.125

11/20/25

482,080‌

1,000,000

International

Bank

for

Reconstruction

&

Development

0

.000

03/31/27

893,910‌

2,000,000

International

Bank

for

Reconstruction

&

Development

1

.625

11/03/31

1,641,786‌

2,000,000

International

Finance

Corp

2

.000

10/24/22

1,998,657‌

500,000

Kreditanstalt

fuer

Wiederaufbau

1

.000

10/01/26

439,416‌

1,000,000

Kreditanstalt

fuer

Wiederaufbau

0

.750

09/30/30

777,302‌

250,000

North

American

Development

Bank

2

.400

10/26/22

249,820‌

1,000,000

g

OMERS

Finance

Trust

4

.000

04/19/52

835,537‌

300,000

g

Perusahaan

Penerbit

SBSN

Indonesia

III

3

.750

03/01/23

298,700‌

TOTAL

FOREIGN

GOVERNMENT

BONDS

16,800,788‌

MORTGAGE

BACKED

-

0

.3

%

250,000

i

Federal

National

Mortgage

Association

(FNMA)

1

.515

11/25/30

198,414‌

250,000

i

FNMA

1

.292

01/25/31

194,233‌

TOTAL

MORTGAGE

BACKED

392,647‌

MUNICIPAL

BONDS

-

6

.2

%

180,000

g

California

Municipal

Finance

Authority

6

.375

11/15/48

153,741‌

300,000

City

of

Cleveland

OH

Income

Tax

Revenue

3

.072

10/01/41

212,098‌

Portfolio

of

investments

(unaudited)

Green

Bond

Fund

September

30,

2022

307

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MUNICIPAL

BONDS—continued

$

600,000

City

of

Los

Angeles

Department

of

Airports

Customer

Facility

Charge

Revenue

4

.242

%

05/15/48

$

510,533‌

250,000

City

of

San

Francisco

CA

Public

Utilities

Commission

Water

Revenue

2

.825

11/01/41

187,673‌

250,000

g

County

of

Gallatin

MT

11

.500

09/01/27

260,744‌

500,000

District

of

Columbia

3

.850

02/28/25

480,643‌

1,000,000

g

Florida

Development

Finance

Corp

7

.250

07/01/57

976,316‌

600,000

Grant

County

Public

Utility

District

No

2

1

.544

01/01/23

596,955‌

250,000

Grant

County

Public

Utility

District

No

2

3

.210

01/01/40

191,218‌

235,000

Great

Lakes

Water

Authority

Sewage

Disposal

System

Revenue

3

.056

07/01/39

182,884‌

100,000

Klickitat

County

Public

Utilities

3

.688

12/01/38

81,988‌

315,000

Massachusetts

Clean

Energy

Cooperative

Corp

2

.485

07/01/32

253,540‌

500,000

Metropolitan

Transportation

Authority

5

.175

11/15/49

446,463‌

170,000

Morris

County

Improvement

Authority

1

.298

06/15/27

146,034‌

210,000

Mount

Shasta

Public

Financing

Authority

3

.000

08/01/35

177,801‌

220,000

Mount

Shasta

Public

Financing

Authority

2

.625

08/01/36

174,672‌

120,000

Mount

Shasta

Public

Financing

Authority

2

.625

08/01/37

93,840‌

160,000

Mount

Shasta

Public

Financing

Authority

2

.750

08/01/38

124,184‌

165,000

Mount

Shasta

Public

Financing

Authority

2

.750

08/01/39

124,462‌

1,840,000

New

York

State

Energy

Research

&

Development

Authority

4

.521

04/01/26

1,768,121‌

65,000

New

York

State

Energy

Research

&

Development

Authority

4

.577

04/01/35

64,045‌

55,000

New

York

State

Environmental

Facilities

Corp

2

.506

11/15/22

54,948‌

500,000

g

Ohio

Air

Quality

Development

Authority

4

.500

01/15/48

436,430‌

250,000

g

Pennsylvania

Economic

Development

Financing

Authority

10

.000

12/01/29

231,559‌

500,000

g

Warm

Springs

Reservation

Confederated

Tribe

2

.800

11/01/22

499,620‌

TOTAL

MUNICIPAL

BONDS

8,430,512‌

U.S.

TREASURY

SECURITIES

-

0

.3

%

300,000

United

States

Treasury

Note

4

.250

09/30/24

300,140‌

100,000

e

United

States

Treasury

Note

3

.125

08/31/27

95,922‌

TOTAL

U.S.

TREASURY

SECURITIES

396,062‌

TOTAL

GOVERNMENT

BONDS

28,488,707‌

(Cost

$31,274,842)

STRUCTURED

ASSETS

-

15

.7

%

ASSET

BACKED

-

8

.0

%

250,000

g,i

BFLD

Trust

LIBOR

1

M

+

2.100%

4

.918

10/15/35

236,846‌

Series

-

2020

EYP

(Class

C)

84,145

g

GoodLeap

Sustainable

Home

Solutions

Trust

2

.100

05/20/48

68,799‌

Series

-

2021

3CS

(Class

A)

301,015

g

GoodLeap

Sustainable

Home

Solutions

Trust

1

.930

07/20/48

241,740‌

Series

-

2021

4GS

(Class

A)

257,179

g

GoodLeap

Sustainable

Home

Solutions

Trust

2

.560

10/20/48

207,709‌

Series

-

2021

5CS

(Class

B)

474,793

g

GoodLeap

Sustainable

Home

Solutions

Trust

2

.700

01/20/49

400,000‌

Series

-

2022

1GS

(Class

A)

986,804

g

GoodLeap

Sustainable

Home

Solutions

Trust

4

.950

07/20/49

945,001‌

Series

-

2022

3CS

(Class

A)

116,667

g

HERO

Funding

Trust

4

.050

09/20/41

112,820‌

Series

-

2016

1A

(Class

A)

174,754

g

HERO

Funding

Trust

3

.910

09/20/42

165,119‌

Series

-

2016

3A

(Class

A2)

105,465

g

HERO

Funding

Trust

4

.290

09/20/47

101,023‌

Series

-

2016

4A

(Class

A2)

49,724

g

HERO

Funding

Trust

4

.460

09/20/47

46,714‌

Series

-

2017

1A

(Class

A2)

Portfolio

of

investments

(unaudited)

Green

Bond

Fund

September

30,

2022

308

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

116,602

g

HERO

Funding

Trust

3

.190

%

09/20/48

$

105,131‌

Series

-

2017

3A

(Class

A1)

234,953

g

HERO

Funding

Trust

3

.950

09/20/48

214,924‌

Series

-

2017

3A

(Class

A2)

127,446

g

HERO

Funding

Trust

2

.720

09/20/57

115,323‌

Series

-

2020

1A

(Class

A)

176,174

g

Loanpal

Solar

Loan

Ltd

2

.290

01/20/48

144,501‌

Series

-

2021

1GS

(Class

A)

235,359

†,g

Mosaic

Solar

Loan

Trust

0

.000

04/20/46

192,288‌

Series

-

2020

1A

(Class

R)

443,941

g

Mosaic

Solar

Loan

Trust

2

.100

04/20/46

382,675‌

Series

-

2020

1A

(Class

A)

149,800

g

Mosaic

Solar

Loan

Trust

1

.440

08/20/46

125,083‌

Series

-

2020

2A

(Class

A)

824,664

g

Mosaic

Solar

Loan

Trust

2

.050

12/20/46

648,823‌

Series

-

2021

1A

(Class

B)

325,260

g

Mosaic

Solar

Loan

Trust

2

.250

12/20/46

288,635‌

Series

-

2021

1A

(Class

C)

568,544

g

Mosaic

Solar

Loan

Trust

1

.440

06/20/52

459,880‌

Series

-

2021

3A

(Class

A)

1,000,000

g

Mosaic

Solar

Loan

Trust

1

.770

06/20/52

858,320‌

Series

-

2021

3A

(Class

C)

186,343

g

Renew

2

.060

11/20/56

158,178‌

Series

-

2021

1

(Class

A)

1,143,846

g

Sunnova

Helios

VIII

Issuer

LLC

2

.790

02/22/49

1,008,567‌

Series

-

2022

A

(Class

A)

228,680

g

Sunrun

Athena

Issuer

LLC

5

.310

04/30/49

213,894‌

Series

-

2018

1

(Class

A)

462,083

g

Sunrun

Atlas

Issuer

LLC

3

.610

02/01/55

409,039‌

Series

-

2019

2

(Class

A)

374,010

g

Sunrun

Callisto

Issuer

LLC

3

.980

06/30/54

339,935‌

Series

-

2019

1A

(Class

A)

497,996

g

Sunrun

Jupiter

Issuer

LLC

4

.750

07/30/57

451,569‌

Series

-

2022

1A

(Class

A)

234,035

g

Sunrun

Vulcan

Issuer

LLC

2

.460

01/30/52

189,786‌

Series

-

2021

1A

(Class

A)

250,000

g

Tesla

Auto

Lease

Trust

0

.780

12/20/23

246,437‌

Series

-

2020

A

(Class

A4)

250,000

g

Tesla

Auto

Lease

Trust

2

.330

02/20/24

245,198‌

Series

-

2020

A

(Class

D)

250,000

g

Tesla

Auto

Lease

Trust

0

.560

03/20/25

241,090‌

Series

-

2021

A

(Class

A3)

300,000

g

Tesla

Auto

Lease

Trust

0

.600

09/22/25

281,231‌

Series

-

2021

B

(Class

A3)

549,009

g

Vivint

Colar

Financing

V

LLC

7

.370

04/30/48

508,462‌

Series

-

2018

1A

(Class

B)

689,139

g

Vivint

Solar

Financing

VII

LLC

2

.210

07/31/51

558,811‌

Series

-

2020

1A

(Class

A)

TOTAL

ASSET

BACKED

10,913,551‌

OTHER

MORTGAGE

BACKED

-

7

.7

%

250,000

g,i

Alen

Mortgage

Trust

LIBOR

1

M

+

1.650%

4

.468

04/15/34

236,924‌

Series

-

2021

ACEN

(Class

B)

100,000

g

BBCMS

Trust

4

.498

08/10/35

89,791‌

Series

-

2015

SRCH

(Class

B)

250,000

g,i

Cityline

Commercial

Mortgage

Trust

2

.871

11/10/31

240,849‌

Series

-

2016

CLNE

(Class

A)

500,000

g

COMM

Mortgage

Trust

3

.178

02/10/35

464,007‌

Series

-

2015

3BP

(Class

A)

Portfolio

of

investments

(unaudited)

Green

Bond

Fund

September

30,

2022

309

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

100,000

g

COMM

Mortgage

Trust

3

.376

%

01/10/39

$

85,515‌

Series

-

2022

HC

(Class

C)

500,000

g

CPT

Mortgage

Trust

2

.865

11/13/39

408,605‌

Series

-

2019

CPT

(Class

A)

500,000

g,i

DBUBS

Mortgage

Trust

3

.648

10/10/34

454,624‌

Series

-

2017

BRBK

(Class

D)

210,000

g,i

GCT

Commercial

Mortgage

Trust

LIBOR

1

M

+

0.800%

3

.618

02/15/38

202,852‌

Series

-

2021

GCT

(Class

A)

1,102,000

g,i

GS

Mortgage

Securities

Corp

II

5

.067

03/10/33

1,036,780‌

Series

-

2018

GS10

(Class

WLSA)

345,000

g,i

Hudson

Yards

Mortgage

Trust

3

.558

07/10/39

262,952‌

Series

-

2019

30HY

(Class

E)

1,255,000

g,i

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

1.370%

4

.188

10/15/33

1,206,936‌

Series

-

2020

609M

(Class

A)

1,000,000

g,i

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

1.770%

4

.588

10/15/33

952,189‌

Series

-

2020

609M

(Class

B)

1,000,000

g

Manhattan

West

Mortgage

Trust

2

.130

09/10/39

848,026‌

Series

-

2020

1MW

(Class

A)

250,000

g,i

MFT

Trust

3

.392

08/10/40

185,726‌

Series

-

2020

B6

(Class

B)

250,000

g,i

Morgan

Stanley

Capital

I

Trust

2

.509

04/05/42

183,691‌

Series

-

2020

CNP

(Class

C)

350,586

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

1.500%

4

.318

07/15/36

345,195‌

Series

-

2019

MILE

(Class

A)

500,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

2.750%

5

.568

07/15/36

484,926‌

Series

-

2019

MILE

(Class

D)

250,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

4.250%

7

.068

07/15/36

236,424‌

Series

-

2019

MILE

(Class

F)

11,470,000

g,i

NYC

Commercial

Mortgage

Trust

0

.333

04/10/43

197,921‌

Series

-

2021

909

(Class

X)

500,000

g

One

Bryant

Park

Trust

2

.516

09/15/54

411,827‌

Series

-

2019

OBP

(Class

A)

1,000,000

g

One

Market

Plaza

Trust

3

.614

02/10/32

967,444‌

Series

-

2017

1MKT

(Class

A)

500,000

g

One

Market

Plaza

Trust

4

.016

02/10/32

477,832‌

Series

-

2017

1MKT

(Class

C)

400,000

g,i

STWD

Mortgage

Trust

LIBOR

1

M

+

2.305%

5

.123

11/15/36

373,438‌

Series

-

2021

LIH

(Class

D)

100,000

g,i

VNDO

Trust

4

.033

01/10/35

84,295‌

Series

-

2016

350P

(Class

D)

TOTAL

OTHER

MORTGAGE

BACKED

10,438,769‌

TOTAL

STRUCTURED

ASSETS

21,352,320‌

(Cost

$23,518,679)

TOTAL

BONDS

125,688,255‌

(Cost

$141,155,114)

SHARES

COMPANY

REFERENCERATE

&

SPREAD

PREFERRED

STOCKS

-

0.8%

REAL

ESTATE

-

0

.3

%

10,000

Brookfield

Property

Partners

LP

184,800‌

10,000

Brookfield

Property

Partners

LP

170,000‌

TOTAL

REAL

ESTATE

354,800‌

UTILITIES

-

0

.5

%

20,000

Brookfield

Infrastructure

Partners

LP

335,800‌

Portfolio

of

investments

(unaudited)

Green

Bond

Fund

September

30,

2022

310

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

concluded

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

UTILITIES—continued

16,000

Brookfield

Renewable

Partners

LP

$

313,760‌

TOTAL

UTILITIES

649,560‌

TOTAL

PREFERRED

STOCKS

1,004,360‌

(Cost

$1,400,000)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

5.3%

REPURCHASE

AGREEMENT

-

4

.3

%

$

5,840,000

r

Fixed

Income

Clearing

Corp

(FICC)

2

.950

%

10/03/22

5,840,000‌

TOTAL

REPURCHASE

AGREEMENT

5,840,000‌

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

1

.0

%

1,413,072

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3

.070

1,413,072‌

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

1,413,072‌

TOTAL

SHORT-TERM

INVESTMENTS

7,253,072‌

(Cost

$7,253,072)

TOTAL

INVESTMENTS

-

100.0%

135,839,626‌

(Cost

$151,739,826)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.0%

39,216‌

NET

ASSETS

-

100.0%

$

135,878,842‌

LIBOR

London

Interbank

Offered

Rate

M

Month

SOFR

Secure

Overnight

Financing

Rate

†

Security

is

categorized

as

Level

3

in

the

fair

value

hierarchy.

‡

Perpetual

security

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

$1,374,482.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.950%

dated

9/30/22

to

be

repurchased

at

$5,840,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.250%

and

maturity

date

8/15/27,

valued

at

$5,956,854.

Portfolio

of

investments

(unaudited)

High-Yield

Fund

September

30,

2022

311

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANK

LOAN

OBLIGATIONS

-

5.2%

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.6

%

$

5,173,713

i

PECF

USS

Intermediate

Holding

III

Corp

LIBOR

12

M

+

4.250%

7

.365

%

12/15/28

$

4,432,139‌

12,317,006

i

Spin

Holdco,

Inc

LIBOR

4

M

+

4.000%

7

.144

03/04/28

10,854,361‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

15,286,500‌

CONSUMER

SERVICES

-

0

.4

%

9,831,894

i

ClubCorp

Holdings,

Inc

LIBOR

4

M

+

2.750%

6

.424

09/18/24

9,084,277‌

TOTAL

CONSUMER

SERVICES

9,084,277‌

FOOD,

BEVERAGE

&

TOBACCO

-

0

.3

%

9,487,363

i

Triton

Water

Holdings,

Inc

LIBOR

4

M

+

3.500%

7

.174

03/31/28

8,561,016‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

8,561,016‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

1

.4

%

20,837,672

i

Surgery

Center

Holdings,

Inc

LIBOR

12

M

+

3.750%

6

.510

08/31/26

19,825,794‌

15,567,329

i

Verscend

Holding

Corp

LIBOR

12

M

+

4.000%

7

.115

08/27/25

15,139,228‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

34,965,022‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0

.3

%

7,387,500

i

Kronos

Acquisition

Holdings,

Inc

LIBOR

4

M

+

3.750%

6

.820

12/22/26

6,872,444‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

6,872,444‌

MATERIALS

-

0

.2

%

6,198,000

i

Sylvamo

Corp

LIBOR

12

M

+

4.500%

7

.615

09/13/28

5,988,817‌

TOTAL

MATERIALS

5,988,817‌

MEDIA

&

ENTERTAINMENT

-

0

.3

%

5,702,770

i

Abe

Investment

Holdings

LIBOR

4

M

+

4.500%

7

.625

02/19/26

5,672,203‌

1,188,273

i

Diamond

Sports

Group

LLC

SOFR

12M

+

8.000%

10

.696

05/25/26

1,146,684‌

14,783

i

Rackspace

Technology

Global,

Inc

LIBOR

4

M

+

2.750%

5

.617

02/15/28

10,630‌

TOTAL

MEDIA

&

ENTERTAINMENT

6,829,517‌

RETAILING

-

0

.6

%

10,592,975

i

Jo-Ann

Stores

LLC

LIBOR

4

M

+

4.750%

7

.516

07/07/28

7,057,570‌

9,554,063

i

Staples,

Inc

LIBOR

4

M

+

5.000%

7

.782

04/16/26

8,424,485‌

TOTAL

RETAILING

15,482,055‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0

.1

%

403,961

i

Bright

Bidco

BV

SOFR

1M

+

8.000%

10

.903

02/28/23

403,961‌

3,384,915

i,q

Bright

Bidco

BV

LIBOR

12

M

+

3.500%

6

.514

06/30/24

1,181,555‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

1,585,516‌

SOFTWARE

&

SERVICES

-

0

.7

%

17,084

i

Finastra

USA,

Inc

LIBOR

4

M

+

3.500%

6

.871

06/13/24

14,915‌

9,850,000

i

Greeneden

US

Holdings

II

LLC

LIBOR

12

M

+

4.000%

7

.115

12/01/27

9,405,863‌

7,361,139

i

Rocket

Software,

Inc

LIBOR

12

M

+

4.250%

7

.365

11/28/25

7,080,532‌

TOTAL

SOFTWARE

&

SERVICES

16,501,310‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0

.0

%

12,662

i

Vertiv

Group

Corp

LIBOR

12

M

+

2.750%

5

.878

03/02/27

12,080‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

12,080‌

TRANSPORTATION

-

0

.3

%

7,502,092

i

Air

Canada

LIBOR

4

M

+

3.500%

6

.421

08/11/28

7,153,132‌

TOTAL

TRANSPORTATION

7,153,132‌

TOTAL

BANK

LOAN

OBLIGATIONS

128,321,686‌

(Cost

$140,301,530)

Portfolio

of

investments

(unaudited)

High-Yield

Fund

September

30,

2022

312

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BONDS

-

90.4%

CORPORATE

BONDS

-

90

.4

%

AUTOMOBILES

&

COMPONENTS

-

3

.9

%

$

12,450,000

g

Adient

Global

Holdings

Ltd

4

.875

%

08/15/26

$

10,911,553‌

4,195,000

Dana,

Inc

5

.375

11/15/27

3,555,263‌

15,040,000

Dana,

Inc

4

.500

02/15/32

10,723,334‌

5,825,000

Ford

Motor

Co

9

.625

04/22/30

6,471,167‌

5,000,000

Ford

Motor

Co

3

.250

02/12/32

3,601,650‌

22,075,000

g

Gates

Global

LLC

6

.250

01/15/26

20,309,000‌

6,815,000

e

Goodyear

Tire

&

Rubber

Co

5

.000

07/15/29

5,563,425‌

15,000,000

e

Goodyear

Tire

&

Rubber

Co

5

.250

04/30/31

12,024,326‌

4,540,000

Goodyear

Tire

&

Rubber

Co

5

.250

07/15/31

3,632,000‌

5,000,000

e

Goodyear

Tire

&

Rubber

Co

5

.625

04/30/33

4,006,250‌

1,100,000

g,o

IHO

Verwaltungs

GmbH

4

.750

09/15/26

934,341‌

16,050,000

g,o

IHO

Verwaltungs

GmbH

6

.375

05/15/29

13,803,000‌

TOTAL

AUTOMOBILES

&

COMPONENTS

95,535,309‌

CAPITAL

GOODS

-

2

.1

%

10,145,000

g

Builders

FirstSource,

Inc

6

.375

06/15/32

9,011,237‌

9,519,000

g

H&E

Equipment

Services,

Inc

3

.875

12/15/28

7,472,415‌

8,950,000

g

Rolls-Royce

plc

5

.750

10/15/27

7,775,313‌

12,250,000

TransDigm

UK

Holdings

plc

6

.875

05/15/26

11,615,904‌

4,000,000

TransDigm,

Inc

7

.500

03/15/27

3,808,000‌

2,500,000

g

WESCO

Distribution,

Inc

7

.125

06/15/25

2,501,375‌

10,060,000

g

WESCO

Distribution,

Inc

7

.250

06/15/28

9,853,281‌

TOTAL

CAPITAL

GOODS

52,037,525‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

6

.6

%

5,245,000

g

ADT

Corp

4

.875

07/15/32

4,229,896‌

13,105,000

g

ADT

Security

Corp

4

.125

08/01/29

10,877,150‌

13,945,000

g

Albion

Financing

1

SARL

6

.125

10/15/26

11,789,519‌

27,345,000

g

Albion

Financing

2

SARL

8

.750

04/15/27

22,696,350‌

11,100,000

g

Allied

Universal

Holdco

LLC

6

.625

07/15/26

9,892,875‌

10,000,000

g

Allied

Universal

Holdco

LLC

4

.625

06/01/28

7,703,200‌

10,785,000

g

ASGN,

Inc

4

.625

05/15/28

9,281,047‌

21,600,000

g

Garda

World

Security

Corp

4

.625

02/15/27

18,521,892‌

6,500,000

g

GFL

Environmental,

Inc

4

.750

06/15/29

5,476,250‌

15,075,000

g

Prime

Security

Services

Borrower

LLC

5

.750

04/15/26

14,184,671‌

5,325,000

g

Prime

Security

Services

Borrower

LLC

3

.375

08/31/27

4,473,905‌

18,100,000

g

Prime

Security

Services

Borrower

LLC

6

.250

01/15/28

15,446,023‌

6,750,000

g

Science

Applications

International

Corp

4

.875

04/01/28

6,005,171‌

5,000,000

United

Rentals

North

America,

Inc

4

.875

01/15/28

4,584,200‌

19,618,000

g

WASH

Multifamily

Acquisition,

Inc

5

.750

04/15/26

18,085,929‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

163,248,078‌

CONSUMER

DURABLES

&

APPAREL

-

0

.6

%

3,025,000

e

Newell

Brands,

Inc

6

.375

09/15/27

2,995,446‌

5,200,000

Newell

Rubbermaid,

Inc

5

.750

04/01/46

4,069,000‌

8,880,000

g

Wolverine

World

Wide,

Inc

4

.000

08/15/29

6,774,197‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

13,838,643‌

CONSUMER

SERVICES

-

4

.8

%

5,000,000

g

1011778

BC

ULC

3

.875

01/15/28

4,351,050‌

11,845,000

g

Carnival

Corp

4

.000

08/01/28

9,555,835‌

20,995,000

g

CDI

Escrow

Issuer,

Inc

5

.750

04/01/30

18,335,248‌

7,840,000

g

Constellation

Merger

Sub,

Inc

8

.500

09/15/25

6,823,279‌

11,140,000

g

Fertitta

Entertainment

LLC

4

.625

01/15/29

9,218,350‌

9,135,000

g

Hilton

Grand

Vacations

Borrower

Escrow

LLC

5

.000

06/01/29

7,372,858‌

5,000,000

Hilton

Worldwide

Finance

LLC

4

.875

04/01/27

4,587,500‌

Portfolio

of

investments

(unaudited)

High-Yield

Fund

September

30,

2022

313

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CONSUMER

SERVICES—continued

$

3,880,000

g

International

Game

Technology

plc

4

.125

%

04/15/26

$

3,546,165‌

4,650,000

g

International

Game

Technology

plc

6

.250

01/15/27

4,499,387‌

2,025,000

g

International

Game

Technology

plc

5

.250

01/15/29

1,793,684‌

16,300,000

g

Life

Time,

Inc

5

.750

01/15/26

14,833,000‌

11,425,000

g

Live

Nation

Entertainment,

Inc

6

.500

05/15/27

10,993,706‌

2,715,000

g

Marriott

Ownership

Resorts,

Inc

4

.500

06/15/29

2,145,680‌

10,000,000

g

Penn

National

Gaming,

Inc

5

.625

01/15/27

8,842,780‌

14,665,000

Yum!

Brands,

Inc

5

.375

04/01/32

13,002,554‌

TOTAL

CONSUMER

SERVICES

119,901,076‌

DIVERSIFIED

FINANCIALS

-

6

.7

%

9,447,000

g

Compass

Group

Diversified

Holdings

LLC

5

.250

04/15/29

7,413,344‌

10,000,000

g

Compass

Group

Diversified

Holdings

LLC

5

.000

01/15/32

7,309,522‌

10,835,000

Ford

Motor

Credit

Co

LLC

2

.300

02/10/25

9,603,031‌

10,000,000

Ford

Motor

Credit

Co

LLC

3

.375

11/13/25

8,835,068‌

18,035,000

Ford

Motor

Credit

Co

LLC

4

.950

05/28/27

16,101,287‌

20,000,000

Ford

Motor

Credit

Co

LLC

5

.113

05/03/29

17,354,000‌

9,700,000

Icahn

Enterprises

LP

5

.250

05/15/27

8,492,447‌

15,375,000

Icahn

Enterprises

LP

4

.375

02/01/29

12,375,030‌

5,000,000

g

LPL

Holdings,

Inc

4

.000

03/15/29

4,288,400‌

11,800,000

g

LPL

Holdings,

Inc

4

.375

05/15/31

9,784,721‌

3,000,000

Navient

Corp

6

.125

03/25/24

2,921,250‌

5,000,000

Navient

Corp

6

.750

06/25/25

4,680,800‌

4,000,000

Navient

Corp

5

.000

03/15/27

3,271,647‌

10,000,000

Navient

Corp

4

.875

03/15/28

7,638,305‌

5,330,000

Navient

Corp

5

.500

03/15/29

4,051,586‌

11,465,000

OneMain

Finance

Corp

3

.500

01/15/27

8,930,920‌

15,650,000

e

OneMain

Finance

Corp

4

.000

09/15/30

10,981,762‌

5,000,000

g

Rocket

Mortgage

LLC

2

.875

10/15/26

4,100,000‌

10,000,000

g

Rocket

Mortgage

LLC

3

.875

03/01/31

7,248,540‌

5,000,000

g

Rocket

Mortgage

LLC

4

.000

10/15/33

3,437,569‌

10,960,000

Springleaf

Finance

Corp

5

.375

11/15/29

8,494,000‌

TOTAL

DIVERSIFIED

FINANCIALS

167,313,229‌

ENERGY

-

15

.0

%

17,075,000

g

Antero

Midstream

Partners

LP

5

.750

03/01/27

15,792,104‌

10,000,000

Apache

Corp

5

.100

09/01/40

8,072,650‌

9,550,000

g

Archrock

Partners

LP

6

.875

04/01/27

8,552,791‌

11,681,000

g

Archrock

Partners

LP

6

.250

04/01/28

10,267,541‌

5,200,000

g

Ascent

Resources

Utica

Holdings

LLC

7

.000

11/01/26

5,013,502‌

4,170,000

e,g

Calumet

Specialty

Products

Partners

LP

8

.125

01/15/27

3,836,400‌

667,639

o

Cloud

Peak

Energy,

Inc

12

.000

05/01/25

580,846‌

5,700,000

g

Crestwood

Midstream

Partners

LP

5

.625

05/01/27

5,158,500‌

11,800,000

g

Crestwood

Midstream

Partners

LP

6

.000

02/01/29

10,561,000‌

11,775,000

g

DT

Midstream,

Inc

4

.125

06/15/29

9,949,875‌

7,975,000

g

DT

Midstream,

Inc

4

.375

06/15/31

6,577,142‌

2,932,000

g

Energean

Israel

Finance

Ltd

4

.500

03/30/24

2,746,985‌

1,630,000

g

Energean

Israel

Finance

Ltd

4

.875

03/30/26

1,435,121‌

1,630,000

g

Energean

Israel

Finance

Ltd

5

.375

03/30/28

1,373,705‌

5,079,000

g

Energean

Israel

Finance

Ltd

5

.875

03/30/31

4,123,425‌

10,000,000

Energy

Transfer

LP

6

.500

N/A‡

8,711,040‌

1,569,000

g

EnLink

Midstream

LLC

5

.625

01/15/28

1,467,015‌

5,210,000

EnLink

Midstream

LLC

5

.375

06/01/29

4,767,150‌

5,880,000

e,g

EnLink

Midstream

LLC

6

.500

09/01/30

5,741,820‌

1,259,000

EnLink

Midstream

Partners

LP

4

.150

06/01/25

1,168,667‌

5,000,000

EnLink

Midstream

Partners

LP

4

.850

07/15/26

4,591,923‌

1,615,000

g

EQM

Midstream

Partners

LP

6

.000

07/01/25

1,493,278‌

1,365,000

g

EQM

Midstream

Partners

LP

7

.500

06/01/27

1,301,009‌

7,200,000

g

EQM

Midstream

Partners

LP

6

.500

07/01/27

6,653,437‌

4,250,000

g

EQM

Midstream

Partners

LP

4

.500

01/15/29

3,424,131‌

Portfolio

of

investments

(unaudited)

High-Yield

Fund

September

30,

2022

314

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

8,330,000

g

EQM

Midstream

Partners

LP

7

.500

%

06/01/30

$

7,871,605‌

5,125,000

g

EQM

Midstream

Partners

LP

4

.750

01/15/31

4,067,969‌

9,400,000

Genesis

Energy

LP

6

.500

10/01/25

8,498,528‌

15,000,000

Genesis

Energy

LP

6

.250

05/15/26

13,021,130‌

10,825,000

g

Hess

Midstream

Operations

LP

5

.625

02/15/26

10,275,685‌

6,340,000

g

Hilcorp

Energy

I

LP

5

.750

02/01/29

5,542,841‌

6,185,000

g

Hilcorp

Energy

I

LP

6

.000

04/15/30

5,390,330‌

6,166,000

g

Hilcorp

Energy

I

LP

6

.000

02/01/31

5,342,138‌

8,685,000

g

Hilcorp

Energy

I

LP

6

.250

04/15/32

7,693,260‌

5,705,000

g

Holly

Energy

Partners

LP

6

.375

04/15/27

5,448,275‌

5,295,000

g

Kinetik

Holdings

LP

5

.875

06/15/30

4,848,414‌

15,000,000

Laredo

Petroleum,

Inc

9

.500

01/15/25

14,875,200‌

8,000,000

Matador

Resources

Co

5

.875

09/15/26

7,717,360‌

10,982,000

e

Murphy

Oil

Corp

5

.875

12/01/27

10,265,315‌

19,075,000

g

New

Fortress

Energy,

Inc

6

.500

09/30/26

17,623,392‌

8,750,000

g

NGL

Energy

Operating

LLC

7

.500

02/01/26

7,784,087‌

17,875,000

Occidental

Petroleum

Corp

6

.375

09/01/28

17,802,338‌

11,800,000

Occidental

Petroleum

Corp

8

.875

07/15/30

13,136,940‌

10,000,000

Occidental

Petroleum

Corp

6

.450

09/15/36

10,000,000‌

336,000

Occidental

Petroleum

Corp

6

.200

03/15/40

325,080‌

516,000

Occidental

Petroleum

Corp

6

.600

03/15/46

531,480‌

1,479,000

Occidental

Petroleum

Corp

4

.400

04/15/46

1,215,582‌

6,658,000

g

Parkland

Corp

4

.500

10/01/29

5,375,141‌

9,440,000

g

Parkland

Corp

4

.625

05/01/30

7,652,772‌

5,900,000

e

SM

Energy

Co

6

.750

09/15/26

5,678,750‌

7,500,000

SM

Energy

Co

6

.625

01/15/27

7,199,100‌

1,200,000

e

SM

Energy

Co

6

.500

07/15/28

1,140,388‌

4,527,000

Sunoco

LP

4

.500

05/15/29

3,755,373‌

18,000,000

USA

Compression

Partners

LP

6

.875

04/01/26

16,560,000‌

2,650,000

USA

Compression

Partners

LP

6

.875

09/01/27

2,408,386‌

8,575,000

Western

Midstream

Operating

LP

4

.550

02/01/30

7,333,854‌

2,000,000

Western

Midstream

Operating

LP

5

.500

02/01/50

1,615,000‌

TOTAL

ENERGY

371,356,770‌

FOOD

&

STAPLES

RETAILING

-

0

.4

%

10,665,000

g

Performance

Food

Group,

Inc

4

.250

08/01/29

8,879,679‌

TOTAL

FOOD

&

STAPLES

RETAILING

8,879,679‌

FOOD,

BEVERAGE

&

TOBACCO

-

1

.8

%

13,325,000

g

Chobani

LLC

4

.625

11/15/28

11,333,446‌

10,115,000

g

Darling

Ingredients,

Inc

6

.000

06/15/30

9,626,344‌

19,950,000

g

Primo

Water

Holdings,

Inc

4

.375

04/30/29

16,227,945‌

10,000,000

e,g

Triton

Water

Holdings,

Inc

6

.250

04/01/29

7,648,700‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

44,836,435‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

6

.3

%

10,000,000

Centene

Corp

2

.450

07/15/28

8,142,200‌

20,000,000

Centene

Corp

3

.000

10/15/30

15,838,800‌

5,000,000

Centene

Corp

2

.500

03/01/31

3,768,908‌

2,500,000

g

CHS/Community

Health

Systems,

Inc

8

.000

03/15/26

2,164,468‌

2,275,000

g

CHS/Community

Health

Systems,

Inc

5

.625

03/15/27

1,751,067‌

3,850,000

e,g

CHS/Community

Health

Systems,

Inc

8

.000

12/15/27

3,046,312‌

11,215,000

g

CHS/Community

Health

Systems,

Inc

5

.250

05/15/30

7,808,444‌

9,025,000

g

DaVita,

Inc

4

.625

06/01/30

6,983,094‌

8,100,000

Encompass

Health

Corp

4

.500

02/01/28

6,937,589‌

5,000,000

Encompass

Health

Corp

4

.625

04/01/31

3,951,289‌

15,000,000

g

Global

Medical

Response,

Inc

6

.500

10/01/25

12,581,250‌

15,000,000

g

LifePoint

Health,

Inc

4

.375

02/15/27

12,394,975‌

14,250,000

g

MPH

Acquisition

Holdings

LLC

5

.500

09/01/28

11,762,449‌

11,895,000

g

Owens

&

Minor,

Inc

6

.625

04/01/30

10,467,600‌

Portfolio

of

investments

(unaudited)

High-Yield

Fund

September

30,

2022

315

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

$

7,500,000

g

Tenet

Healthcare

Corp

4

.625

%

06/15/28

$

6,554,749‌

12,050,000

g

Tenet

Healthcare

Corp

6

.125

10/01/28

10,556,870‌

5,000,000

g

Tenet

Healthcare

Corp

4

.250

06/01/29

4,141,250‌

33,000,000

g

Tenet

Healthcare

Corp

4

.375

01/15/30

27,545,100‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

156,396,414‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0

.8

%

14,200,000

g

Coty,

Inc

5

.000

04/15/26

12,928,406‌

7,950,000

e,g

Kronos

Acquisition

Holdings,

Inc

7

.000

12/31/27

6,081,750‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

19,010,156‌

INSURANCE

-

1

.6

%

18,513,000

g

Acrisure

LLC

4

.250

02/15/29

14,508,268‌

11,725,000

g

Alliant

Holdings

Intermediate

LLC

4

.250

10/15/27

10,015,235‌

10,085,000

g

AmWINS

Group,

Inc

4

.875

06/30/29

8,371,180‌

5,995,000

g

NFP

Corp

7

.500

10/01/30

5,688,672‌

TOTAL

INSURANCE

38,583,355‌

MATERIALS

-

8

.2

%

5,000,000

g

Ardagh

Metal

Packaging

Finance

USA

LLC

3

.250

09/01/28

4,079,800‌

5,025,000

g

Ardagh

Metal

Packaging

Finance

USA

LLC

4

.000

09/01/29

3,680,074‌

5,940,000

g

Avient

Corp

7

.125

08/01/30

5,482,204‌

3,250,000

Commercial

Metals

Co

4

.125

01/15/30

2,668,302‌

7,110,000

Commercial

Metals

Co

4

.375

03/15/32

5,616,900‌

10,385,000

g

Consolidated

Energy

Finance

S.A.

5

.625

10/15/28

8,330,839‌

9,325,000

e,g

Constellium

SE

3

.750

04/15/29

6,808,005‌

10,000,000

g

EverArc

Escrow

Sarl

5

.000

10/30/29

8,072,450‌

1,569,000

g

First

Quantum

Minerals

Ltd

6

.500

03/01/24

1,537,620‌

3,000,000

g

First

Quantum

Minerals

Ltd

7

.500

04/01/25

2,887,500‌

4,750,000

g

First

Quantum

Minerals

Ltd

6

.875

03/01/26

4,382,968‌

2,500,000

g

First

Quantum

Minerals

Ltd

6

.875

10/15/27

2,250,000‌

20,000,000

g

FMG

Resources

August

2006

Pty

Ltd

5

.875

04/15/30

17,396,397‌

9,250,000

g

James

Hardie

International

Finance

DAC

5

.000

01/15/28

8,353,768‌

5,000,000

g

LABL,

Inc

6

.750

07/15/26

4,534,450‌

10,500,000

g

LABL,

Inc

5

.875

11/01/28

8,503,945‌

15,785,000

g

Mineral

Resources

Ltd

8

.000

11/01/27

15,184,854‌

5,000,000

Olin

Corp

5

.125

09/15/27

4,518,100‌

5,000,000

Olin

Corp

5

.625

08/01/29

4,437,500‌

8,195,000

Olin

Corp

5

.000

02/01/30

6,801,850‌

16,990,000

g

Olympus

Water

US

Holding

Corp

4

.250

10/01/28

13,061,063‌

15,110,000

g

Pactiv

Evergreen

Group

Issuer,

Inc

4

.375

09/30/28

12,495,063‌

6,975,000

g

Standard

Industries,

Inc

5

.000

02/15/27

6,172,247‌

15,690,000

g

SunCoke

Energy,

Inc

4

.875

06/30/29

12,097,147‌

7,000,000

g

Trinseo

Materials

Operating

S.C.A

5

.375

09/01/25

5,670,000‌

7,000,000

e,g

Trinseo

Materials

Operating

S.C.A

5

.125

04/01/29

4,130,000‌

13,112,000

g

Tronox,

Inc

4

.625

03/15/29

9,702,880‌

12,155,000

g

Unifrax

Escrow

Issuer

Corp

5

.250

09/30/28

9,334,919‌

3,800,000

g

WR

Grace

Holdings

LLC

4

.875

06/15/27

3,266,594‌

3,025,000

g

WR

Grace

Holdings

LLC

5

.625

08/15/29

2,268,750‌

TOTAL

MATERIALS

203,726,189‌

MEDIA

&

ENTERTAINMENT

-

9

.7

%

8,860,000

g

Arches

Buyer,

Inc

4

.250

06/01/28

6,910,800‌

12,375,000

g

Cablevision

Lightpath

LLC

3

.875

09/15/27

10,351,400‌

5,000,000

g

CCO

Holdings

LLC

5

.000

02/01/28

4,311,300‌

5,000,000

g

CCO

Holdings

LLC

5

.375

06/01/29

4,376,600‌

20,000,000

g

CCO

Holdings

LLC

6

.375

09/01/29

18,362,000‌

12,250,000

g

CCO

Holdings

LLC

4

.500

08/15/30

9,687,790‌

19,025,000

g

CCO

Holdings

LLC

4

.250

02/01/31

14,592,934‌

10,800,000

CCO

Holdings

LLC

4

.500

05/01/32

8,236,836‌

Portfolio

of

investments

(unaudited)

High-Yield

Fund

September

30,

2022

316

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MEDIA

&

ENTERTAINMENT—continued

$

8,175,000

g

Cinemark

USA,

Inc

8

.750

%

05/01/25

$

8,264,524‌

6,615,000

e,g

Cinemark

USA,

Inc

5

.250

07/15/28

5,087,530‌

5,850,000

g

CSC

Holdings

LLC

5

.500

04/15/27

5,148,000‌

15,000,000

g

CSC

Holdings

LLC

4

.125

12/01/30

11,208,000‌

8,175,000

g

Diamond

Sports

Group

LLC

5

.375

08/15/26

1,627,234‌

10,900,000

g

DIRECTV

Holdings

LLC

5

.875

08/15/27

9,396,999‌

9,400,000

DISH

DBS

Corp

7

.375

07/01/28

6,329,452‌

6,900,000

g

Gray

Television,

Inc

4

.750

10/15/30

5,171,153‌

10,000,000

iHeartCommunications,

Inc

6

.375

05/01/26

9,277,400‌

11,375,000

e

Lamar

Media

Corp

4

.875

01/15/29

10,139,028‌

14,650,000

g

LCPR

Senior

Secured

Financing

DAC

5

.125

07/15/29

11,032,431‌

9,117,000

g

News

Corp

3

.875

05/15/29

7,739,057‌

790,000

g

News

Corp

5

.125

02/15/32

693,225‌

16,108,000

e,g

Rackspace

Technology

Global,

Inc

3

.500

02/15/28

10,651,415‌

2,000,000

g

Sirius

XM

Radio,

Inc

5

.000

08/01/27

1,835,000‌

8,450,000

g

Sirius

XM

Radio,

Inc

4

.000

07/15/28

7,187,401‌

7,425,000

TEGNA,

Inc

4

.625

03/15/28

6,855,150‌

12,000,000

g

Univision

Communications,

Inc

4

.500

05/01/29

9,785,640‌

1,485,000

g

Univision

Communications,

Inc

7

.375

06/30/30

1,417,128‌

10,000,000

g

UPC

Broadband

Finco

BV

4

.875

07/15/31

7,760,300‌

14,325,000

g

Virgin

Media

Secured

Finance

plc

5

.500

05/15/29

12,264,472‌

20,400,000

g

VZ

Secured

Financing

BV

5

.000

01/15/32

15,240,757‌

TOTAL

MEDIA

&

ENTERTAINMENT

240,940,956‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

3

.2

%

10,805,000

g

Avantor

Funding,

Inc

4

.625

07/15/28

9,615,856‌

9,350,000

g

Bausch

Health

Cos,

Inc

4

.875

06/01/28

6,027,945‌

5,000,000

g

Embecta

Corp

5

.000

02/15/30

4,291,650‌

6,605,000

g

Embecta

Corp

6

.750

02/15/30

6,097,827‌

10,125,000

g

Emergent

BioSolutions,

Inc

3

.875

08/15/28

6,733,125‌

5,000,000

g

Jazz

Securities

DAC

4

.375

01/15/29

4,318,750‌

10,725,000

g

Organon

Finance   LLC

4

.125

04/30/28

9,169,875‌

23,650,000

g

Organon

Finance   LLC

5

.125

04/30/31

19,373,134‌

10,215,000

Teva

Pharmaceutical

Finance

Netherlands

III

BV

4

.750

05/09/27

8,675,701‌

5,000,000

e

Teva

Pharmaceutical

Finance

Netherlands

III

BV

5

.125

05/09/29

4,124,800‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

78,428,663‌

REAL

ESTATE

-

3

.2

%

8,925,000

g

Cushman

&

Wakefield

US

Borrower

LLC

6

.750

05/15/28

8,278,384‌

14,915,000

g

HAT

Holdings

I

LLC

3

.375

06/15/26

11,969,288‌

4,776,000

g

Howard

Hughes

Corp

4

.125

02/01/29

3,689,460‌

5,099,000

g

Howard

Hughes

Corp

4

.375

02/01/31

3,662,637‌

12,000,000

g

Hunt

Cos,

Inc

5

.250

04/15/29

9,188,760‌

10,925,000

g

Iron

Mountain,

Inc

4

.875

09/15/27

9,784,812‌

8,472,000

Kennedy-Wilson,

Inc

4

.750

03/01/29

6,465,830‌

11,771,000

Kennedy-Wilson,

Inc

5

.000

03/01/31

8,534,681‌

15,380,000

g

Realogy

Group

LLC

5

.250

04/15/30

10,444,404‌

5,000,000

g

RLJ

Lodging

Trust

LP

3

.750

07/01/26

4,270,300‌

5,265,000

g

RLJ

Lodging

Trust

LP

4

.000

09/15/29

4,124,449‌

TOTAL

REAL

ESTATE

80,413,005‌

RETAILING

-

3

.6

%

10,700,000

g

Academy

Ltd

6

.000

11/15/27

9,710,250‌

10,000,000

g

Asbury

Automotive

Group,

Inc

4

.625

11/15/29

7,993,700‌

10,000,000

g

Asbury

Automotive

Group,

Inc

5

.000

02/15/32

7,700,604‌

9,175,000

g

Group

1

Automotive,

Inc

4

.000

08/15/28

7,387,802‌

6,650,000

L

Brands,

Inc

5

.250

02/01/28

5,762,107‌

7,250,000

g

L

Brands,

Inc

6

.625

10/01/30

6,307,500‌

11,335,000

g

LCM

Investments

Holdings

II

LLC

4

.875

05/01/29

8,777,440‌

17,587,000

g

Magic

Mergeco,

Inc

5

.250

05/01/28

12,345,722‌

Portfolio

of

investments

(unaudited)

High-Yield

Fund

September

30,

2022

317

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

RETAILING—continued

$

4,775,000

e,g

Magic

Mergeco,

Inc

7

.875

%

05/01/29

$

2,756,990‌

15,000,000

g

Staples,

Inc

7

.500

04/15/26

12,594,150‌

9,836,000

g

Superior

Plus

LP

4

.500

03/15/29

8,123,159‌

TOTAL

RETAILING

89,459,424‌

SOFTWARE

&

SERVICES

-

1

.5

%

3,375,000

g

CA

Magnum

Holdings

5

.375

10/31/26

2,835,292‌

6,175,000

g

Clarivate

Science

Holdings

Corp

3

.875

07/01/28

5,093,140‌

6,810,000

g

Fair

Isaac

Corp

4

.000

06/15/28

5,802,665‌

9,672,000

e,g

j2

Global,

Inc

4

.625

10/15/30

7,931,040‌

4,630,000

g

NortonLifeLock,

Inc

6

.750

09/30/27

4,442,624‌

8,695,000

g

Presidio

Holdings,

Inc

8

.250

02/01/28

7,492,792‌

5,000,000

e,g

Rocket

Software,

Inc

6

.500

02/15/29

3,700,000‌

TOTAL

SOFTWARE

&

SERVICES

37,297,553‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

2

.4

%

20,700,000

g

Ahead

DB

Holdings

LLC

6

.625

05/01/28

17,644,336‌

48,520,000

g

Imola

Merger

Corp

4

.750

05/15/29

40,933,898‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

58,578,234‌

TELECOMMUNICATION

SERVICES

-

2

.8

%

18,000,000

g

Altice

France

S.A.

5

.125

07/15/29

13,447,980‌

9,160,000

g

Altice

France

S.A.

5

.500

10/15/29

6,891,836‌

9,125,000

g

Cogent

Communications

Group,

Inc

3

.500

05/01/26

8,031,350‌

2,090,000

g

Cogent

Communications

Group,

Inc

7

.000

06/15/27

1,965,554‌

10,000,000

e,g

Frontier

Communications

Holdings

LLC

6

.000

01/15/30

7,856,250‌

7,695,000

g

Iliad

Holding

SASU

6

.500

10/15/26

6,728,508‌

9,175,000

g

Iliad

Holding

SASU

7

.000

10/15/28

7,860,406‌

7,620,000

g

MAXAR

TECHNOLOGIES,Inc

7

.750

06/15/27

7,161,732‌

10,000,000

Sprint

Corp

7

.875

09/15/23

10,102,150‌

TOTAL

TELECOMMUNICATION

SERVICES

70,045,766‌

TRANSPORTATION

-

1

.9

%

6,605,000

g

Allegiant

Travel

Co

7

.250

08/15/27

6,225,212‌

10,000,000

g

American

Airlines,

Inc

5

.500

04/20/26

9,391,700‌

2,500,000

g

American

Airlines,

Inc

5

.750

04/20/29

2,181,250‌

11,950,000

g

Cargo

Aircraft

Management,

Inc

4

.750

02/01/28

10,285,485‌

7,115,000

g

First

Student

Bidco,

Inc

4

.000

07/31/29

5,764,582‌

4,750,000

g

Mileage

Plus

Holdings

LLC

6

.500

06/20/27

4,649,205‌

6,550,000

g

United

Airlines,

Inc

4

.375

04/15/26

5,845,875‌

3,550,000

g

United

Airlines,

Inc

4

.625

04/15/29

2,937,412‌

TOTAL

TRANSPORTATION

47,280,721‌

UTILITIES

-

3

.3

%

8,375,000

AmeriGas

Partners

LP

5

.875

08/20/26

7,589,100‌

7,400,000

g

Clearway

Energy

Operating

LLC

4

.750

03/15/28

6,588,965‌

5,000,000

g

Clearway

Energy

Operating

LLC

3

.750

01/15/32

3,876,150‌

10,000,000

Edison

International

5

.375

N/A‡

8,225,000‌

10,285,000

g

Ferrellgas

Escrow

LLC

5

.375

04/01/26

9,050,800‌

22,178,000

g

Ferrellgas

Escrow

LLC

5

.875

04/01/29

18,192,503‌

8,175,000

Suburban

Propane

Partners

LP

5

.875

03/01/27

7,712,303‌

1,800,000

g

Suburban

Propane

Partners

LP

5

.000

06/01/31

1,477,440‌

10,000,000

g

TerraForm

Power

Operating

LLC

5

.000

01/31/28

8,810,300‌

Portfolio

of

investments

(unaudited)

High-Yield

Fund

September

30,

2022

318

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES—continued

$

12,480,000

g

TerraForm

Power

Operating

LLC

4

.750

%

01/15/30

$

10,592,774‌

TOTAL

UTILITIES

82,115,335‌

TOTAL

CORPORATE

BONDS

2,239,222,515‌

(Cost

$2,643,748,775)

TOTAL

BONDS

2,239,222,515‌

(Cost

$2,643,748,775)

SHARES

COMPANY

REFERENCERATE

&

SPREAD

COMMON

STOCKS

-

0.4%

ENERGY

-

0

.0

%

7,963

*,†

Cloud

Peak

Energy,

Inc

79‌

TOTAL

ENERGY

79‌

UTILITIES

-

0

.4

%

467,946

e

Invesco

Senior

Loan

ETF

9,447,830‌

TOTAL

UTILITIES

9,447,830‌

TOTAL

COMMON

STOCKS

9,447,909‌

(Cost

$9,997,198)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

5.2%

GOVERNMENT

AGENCY

DEBT

-

0

.5

%

$

12,500,000

Federal

Home

Loan

Bank

(FHLB)

0

.000

10/27/22

12,475,149‌

TOTAL

GOVERNMENT

AGENCY

DEBT

12,475,149‌

REPURCHASE

AGREEMENT

-

2

.0

%

49,910,000

r

Fixed

Income

Clearing

Corp

(FICC)

2

.950

10/03/22

49,910,000‌

TOTAL

REPURCHASE

AGREEMENT

49,910,000‌

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

2

.7

%

67,293,546

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3

.070

67,293,546‌

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

67,293,546‌

TOTAL

SHORT-TERM

INVESTMENTS

129,678,695‌

(Cost

$129,681,247)

TOTAL

INVESTMENTS

-

101.2%

2,506,670,805‌

(Cost

$2,923,728,750)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(1.2)%

(

29,651,552‌

)

NET

ASSETS

-

100.0%

$

2,477,019,253‌

ETF

Exchange

Traded

Fund

LIBOR

London

Interbank

Offered

Rate

M

Month

SOFR

Secure

Overnight

Financing

Rate

Portfolio

of

investments

(unaudited)

High-Yield

Fund

September

30,

2022

319

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

concluded

*

Non-income

producing

†

Security

is

categorized

as

Level

3

in

the

fair

value

hierarchy.

‡

Perpetual

security

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

$71,972,049.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

o

Payment

in

Kind

Bond

q

In

default

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.950%

dated

9/30/22

to

be

repurchased

at

$49,910,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rates

2.250%–4.125%

and

maturity

dates

8/15/27–9/30/27,

valued

at

$50,908,253.

Inflation-Linked

Bond

Fund

September

30,

2022

Portfolio

of

investments

(unaudited)

320

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BONDS

-

98.8%

GOVERNMENT

BONDS

-

98

.8

%

AGENCY

SECURITIES

-

0

.4

%

$

1,369,963

HNA

LLC

2

.369

%

09/18/27

$

1,281,993‌

7,935,000

Montefiore

Medical

Center

2

.895

04/20/32

7,358,880‌

2,302,631

Reliance

Industries

Ltd

2

.444

01/15/26

2,214,788‌

TOTAL

AGENCY

SECURITIES

10,855,661‌

MORTGAGE

BACKED

-

2

.2

%

9,382,510

Government

National

Mortgage

Association

(GNMA)

3

.600

09/15/31

9,176,933‌

4,867,807

GNMA

3

.700

10/15/33

4,683,476‌

1,430,609

GNMA

3

.380

07/15/35

1,369,191‌

1,368,266

GNMA

3

.870

10/15/36

1,323,471‌

4,977,724

GNMA

3

.940

03/15/37

4,766,235‌

18,222,602

GNMA

1

.730

07/15/37

15,507,243‌

13,066,166

GNMA

1

.650

07/15/42

10,810,933‌

12,953,769

GNMA

2

.750

01/15/45

11,627,632‌

TOTAL

MORTGAGE

BACKED

59,265,114‌

U.S.

TREASURY

SECURITIES

-

96

.2

%

52,059,405

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.375

07/15/23

51,239,876‌

145,127,092

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.625

01/15/24

141,718,118‌

27,041,345

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.500

04/15/24

26,275,878‌

112,527,642

d,k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

07/15/24

108,677,087‌

95,026,147

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

10/15/24

91,379,766‌

107,239,300

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.250

01/15/25

102,621,587‌

79,289,104

k

United

States

Treasury

Inflation

Indexed

Bonds

2

.375

01/15/25

79,587,986‌

35,612,906

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

04/15/25

33,779,746‌

143,635,546

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.375

07/15/25

137,258,913‌

128,270,386

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

10/15/25

121,170,420‌

116,136,515

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.625

01/15/26

110,851,397‌

59,127,230

k

United

States

Treasury

Inflation

Indexed

Bonds

2

.000

01/15/26

58,940,148‌

42,698,223

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

04/15/26

39,874,053‌

116,944,383

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

07/15/26

109,326,248‌

140,939,273

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

10/15/26

131,285,484‌

121,954,355

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.375

01/15/27

113,917,754‌

44,594,589

k

United

States

Treasury

Inflation

Indexed

Bonds

2

.375

01/15/27

45,266,991‌

15,740,100

e,k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

04/15/27

14,512,454‌

107,596,629

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.375

07/15/27

100,385,343‌

130,062,200

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.500

01/15/28

120,705,088‌

24,840,667

k

United

States

Treasury

Inflation

Indexed

Bonds

1

.750

01/15/28

24,597,112‌

45,393,900

k

United

States

Treasury

Inflation

Indexed

Bonds

3

.625

04/15/28

49,332,619‌

83,495,956

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.750

07/15/28

78,460,922‌

86,504,793

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.875

01/15/29

81,344,917‌

50,623,419

k

United

States

Treasury

Inflation

Indexed

Bonds

2

.500

01/15/29

52,382,879‌

32,322,993

k

United

States

Treasury

Inflation

Indexed

Bonds

3

.875

04/15/29

36,198,280‌

60,774,890

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.250

07/15/29

54,799,484‌

68,134,466

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

01/15/30

60,235,126‌

120,776,247

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

07/15/30

106,333,814‌

88,774,920

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

01/15/31

77,552,348‌

133,135,778

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

07/15/31

116,081,658‌

4,120,476

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

01/15/32

3,562,120‌

52,942,567

k

United

States

Treasury

Inflation

Indexed

Bonds

3

.375

04/15/32

60,351,941‌

22,943,700

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.625

07/15/32

20,816,927‌

Portfolio

of

investments

(unaudited)

Inflation-Linked

Bond

Fund

September

30,

2022

321

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

U.S.

TREASURY

SECURITIES—continued

$

36,335,224

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

%

02/15/52

$

22,964,051‌

TOTAL

U.S.

TREASURY

SECURITIES

2,583,788,535‌

TOTAL

GOVERNMENT

BONDS

2,653,909,310‌

(Cost

$2,892,493,290)

TOTAL

BONDS

2,653,909,310‌

(Cost

$2,892,493,290)

REFERENCERATE

&

SPREAD

SHORT-TERM

INVESTMENTS

-

1.1%

REPURCHASE

AGREEMENT

-

0

.5

%

$

13,830,000

r

Fixed

Income

Clearing

Corp

(FICC)

2

.950

10/03/22

13,830,000‌

TOTAL

REPURCHASE

AGREEMENT

13,830,000‌

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

0

.6

%

14,796,169

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3

.070

14,796,169‌

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

14,796,169‌

TOTAL

SHORT-TERM

INVESTMENTS

28,626,169‌

(Cost

$28,626,169)

TOTAL

INVESTMENTS

-

99.9%

2,682,535,479‌

(Cost

$2,921,119,459)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.1%

3,833,788‌

NET

ASSETS

-

100.0%

$

2,686,369,267‌

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

d

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$13,691,777.

k

Principal

amount

for

interest

accrual

purposes

is

periodically

adjusted

based

on

changes

in

the

Consumer

Price

Index.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.950%

dated

9/30/22

to

be

repurchased

at

$13,830,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.250%

and

maturity

date

8/15/27,

valued

at

$14,106,602.

Futures

contracts

outstanding

as

of

September

30,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

US

Ultra

30

Year

Bond

(CBT)

(

50‌

)

12/20/22

 $

(

7,401,463‌

)

$

(

6,850,000‌

)

$

551,463‌

Short

Duration

Impact

Bond

Fund

September

30,

2022

Portfolio

of

investments

(unaudited)

322

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANK

LOAN

OBLIGATIONS

-

3.2%

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.8

%

$

493,750

i

LTR

Intermediate

Holdings,

Inc

LIBOR

4

M

+

4.500%

8

.174

%

05/05/28

$

451,782‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

451,782‌

UTILITIES

-

2

.4

%

461,237

i

Exgen

Renewables

IV

LLC

LIBOR

4

M

+

2.500%

5

.570

12/15/27

452,762‌

997,500

i

TerraForm

Power

Operating

LLC

SOFR

4M

+

2.750%

6

.403

05/21/29

989,395‌

TOTAL

UTILITIES

1,442,157‌

TOTAL

BANK

LOAN

OBLIGATIONS

1,893,939‌

(Cost

$1,931,640)

BONDS

-

95.8%

CORPORATE

BONDS

-

19

.3

%

AUTOMOBILES

&

COMPONENTS

-

0

.3

%

200,000

Aptiv

plc

2

.396

02/18/25

186,630‌

TOTAL

AUTOMOBILES

&

COMPONENTS

186,630‌

BANKS

-

5

.1

%

250,000

Bank

of

America

Corp

0

.981

09/25/25

227,459‌

250,000

i

Bank

of

America

Corp

SOFR

+

0.970%

3

.443

07/22/27

241,911‌

500,000

i

Citigroup,

Inc

LIBOR

3

M

+

1.250%

4

.993

07/01/26

497,628‌

250,000

HSBC

Holdings

plc

3

.033

11/22/23

249,030‌

250,000

Lloyds

Banking

Group

plc

4

.500

11/04/24

243,223‌

250,000

National

Bank

of

Canada

0

.550

11/15/24

236,666‌

250,000

NatWest

Group

plc

2

.359

05/22/24

244,127‌

300,000

g,i

UBS

AG.

SOFR

+

0.450%

3

.074

08/09/24

298,101‌

400,000

g

USAA

Capital

Corp

1

.500

05/01/23

393,689‌

425,000

Wells

Fargo

&

Co

4

.540

08/15/26

411,147‌

TOTAL

BANKS

3,042,981‌

CAPITAL

GOODS

-

0

.4

%

250,000

g,i

Siemens

Financieringsmaatschappij

NV

SOFR

+

0.430%

3

.296

03/11/24

249,065‌

TOTAL

CAPITAL

GOODS

249,065‌

CONSUMER

SERVICES

-

1

.8

%

550,000

Nature

Conservancy

0

.467

07/01/23

533,150‌

260,000

i

Nature

Conservancy

LIBOR

3

M

+

1.080%

3

.862

02/01/24

259,533‌

300,000

Nature

Conservancy

2

.668

03/01/26

281,910‌

TOTAL

CONSUMER

SERVICES

1,074,593‌

DIVERSIFIED

FINANCIALS

-

5

.0

%

200,000

i

AerCap

Ireland

Capital

DAC

SOFR

+

0.680%

3

.651

09/29/23

195,746‌

250,000

g

Credit

Suisse

Group

AG.

2

.997

12/14/23

248,061‌

395,000

g

Federation

des

Caisses

Desjardins

du

Quebec

0

.450

10/07/23

379,185‌

250,000

Goldman

Sachs

Group,

Inc

0

.855

02/12/26

223,050‌

500,000

Morgan

Stanley

0

.791

01/22/25

468,379‌

260,000

g

NongHyup

Bank

1

.250

07/20/25

233,686‌

250,000

Reinvestment

Fund,

Inc

3

.477

02/15/23

247,407‌

250,000

Unilever

Capital

Corp

0

.626

08/12/24

232,115‌

250,000

g

WLB

Asset

II

B

Pte

Ltd

3

.950

12/10/24

236,090‌

250,000

g

WLB

Asset

II

C

Pte

Ltd

3

.900

12/23/25

237,440‌

250,000

g

WLB

Asset

II

Pte

Ltd

4

.000

01/14/24

244,936‌

TOTAL

DIVERSIFIED

FINANCIALS

2,946,095‌

Portfolio

of

investments

(unaudited)

Short

Duration

Impact

Bond

Fund

September

30,

2022

323

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY

-

0

.4

%

$

250,000

g

Aker

BP

ASA

2

.875

%

01/15/26

$

227,040‌

TOTAL

ENERGY

227,040‌

INSURANCE

-

0

.4

%

250,000

g

Five

Corners

Funding

Trust

4

.419

11/15/23

247,657‌

TOTAL

INSURANCE

247,657‌

REAL

ESTATE

-

1

.2

%

250,000

Brandywine

Operating

Partnership

LP

3

.950

02/15/23

248,741‌

300,000

Federal

Realty

Investment

Trust

1

.250

02/15/26

263,985‌

250,000

g

HAT

Holdings

I

LLC

3

.375

06/15/26

200,625‌

TOTAL

REAL

ESTATE

713,351‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0

.4

%

250,000

Apple,

Inc

2

.850

02/23/23

248,891‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

248,891‌

TELECOMMUNICATION

SERVICES

-

0

.4

%

250,000

i

Verizon

Communications,

Inc

SOFR

+

0.790%

3

.717

03/20/26

245,180‌

TOTAL

TELECOMMUNICATION

SERVICES

245,180‌

UTILITIES

-

3

.9

%

500,000

Avangrid,

Inc

3

.150

12/01/24

478,012‌

600,000

g

Brooklyn

Union

Gas

Co

4

.632

08/05/27

564,718‌

284,100

g

India

Cleantech

Energy

4

.700

08/10/26

215,205‌

300,000

e,g

Korea

Hydro

&

Nuclear

Power

Co

Ltd

3

.750

07/25/23

297,504‌

300,000

National

Fuel

Gas

Co

5

.500

01/15/26

294,622‌

470,000

SCE

Recovery

Funding

LLC

1

.977

11/15/28

426,531‌

TOTAL

UTILITIES

2,276,592‌

TOTAL

CORPORATE

BONDS

11,458,075‌

(Cost

$12,049,159)

GOVERNMENT

BONDS

-

59

.0

%

AGENCY

SECURITIES

-

11

.4

%

250,000

Federal

Home

Loan

Mortgage

Corp

(FHLMC)

0

.375

05/05/23

244,444‌

250,000

e

FHLMC

1

.500

02/12/25

234,291‌

500,000

Federal

National

Mortgage

Association

(FNMA)

0

.250

07/10/23

485,037‌

792,500

Harar

Leasing

2013

LLC

2

.582

07/02/25

760,795‌

875,342

Helios

Leasing

II

LLC

2

.668

03/18/25

853,329‌

560,891

Lulwa

Ltd

1

.831

03/26/25

540,528‌

209,933

Overseas

Private

Investment

Corp

(OPIC)

1

.790

10/15/29

189,186‌

484,157

Penta

Aircraft

Leasing

LLC

1

.691

04/29/25

465,075‌

1,000,000

Private

Export

Funding

Corp

(PEFCO)

2

.050

11/15/22

998,292‌

299,873

Purple

Chen

2011

LLC

2

.735

08/01/23

297,674‌

587,694

Safina

Ltd

2

.000

12/30/23

576,735‌

220,666

Thirax   LLC

0

.968

01/14/33

181,531‌

209,933

United

States

International

Development

Finance

Corp

1

.050

10/15/29

183,970‌

250,000

US

Department

of

Housing

and

Urban

Development

(HUD)

2

.618

08/01/23

247,370‌

502,107

i

Washington

Aircraft

2

Co

Ltd

LIBOR

3

M

+

0.430%

4

.071

06/26/24

501,174‌

TOTAL

AGENCY

SECURITIES

6,759,431‌

FOREIGN

GOVERNMENT

BONDS

-

9

.1

%

1,000,000

African

Development

Bank

0

.750

04/03/23

983,500‌

500,000

Council

Of

Europe

Development

Bank

3

.000

06/16/25

482,679‌

500,000

g

European

Stability

Mechanism

1

.375

09/11/24

472,583‌

500,000

Hydro-Quebec

8

.050

07/07/24

528,932‌

250,000

Inter-American

Investment

Corp

2

.625

04/22/25

238,891‌

250,000

International

Bank

for

Reconstruction

&

Development

0

.625

04/22/25

227,571‌

Portfolio

of

investments

(unaudited)

Short

Duration

Impact

Bond

Fund

September

30,

2022

324

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

250,000

International

Bank

for

Reconstruction

&

Development

0

.000

%

03/31/27

$

223,478‌

500,000

g

International

Development

Association

2

.750

04/24/23

495,810‌

750,000

International

Finance

Corp

2

.000

10/24/22

749,497‌

250,000

i

International

Finance

Corp

SOFR

+

0.090%

3

.061

04/03/24

249,940‌

250,000

g

Nederlandse

Waterschapsbank

NV

1

.750

01/15/25

235,921‌

500,000

g

Perusahaan

Penerbit

SBSN

Indonesia

III

3

.750

03/01/23

497,834‌

TOTAL

FOREIGN

GOVERNMENT

BONDS

5,386,636‌

MORTGAGE

BACKED

-

0

.1

%

60,316

Federal

National

Mortgage

Association

(FNMA)

2

.500

10/01/36

54,793‌

31,754

Government

National

Mortgage

Association

(GNMA)

4

.000

12/20/44

30,133‌

TOTAL

MORTGAGE

BACKED

84,926‌

MUNICIPAL

BONDS

-

5

.3

%

45,000

g

California

Municipal

Finance

Authority

4

.250

11/01/23

44,647‌

440,000

California

Municipal

Finance

Authority

1

.622

08/15/25

398,525‌

200,000

City

of

Detroit

MI

2

.189

04/01/24

190,868‌

500,000

District

of

Columbia

3

.850

02/28/25

480,643‌

250,000

g

Florida

Development

Finance

Corp

7

.250

07/01/57

244,079‌

650,000

Morris

County

Improvement

Authority

0

.468

06/15/23

634,170‌

125,000

New

York

State

Energy

Research

&

Development

Authority

1

.624

10/01/22

125,000‌

430,000

New

York

State

Energy

Research

&

Development

Authority

4

.186

04/01/23

427,687‌

250,000

Pharr

Economic

Development

Corp

3

.016

08/15/26

234,736‌

150,000

Redevelopment

Authority

of

the

City

of

Philadelphia

1

.377

09/01/25

136,403‌

200,000

g

Warm

Springs

Reservation

Confederated

Tribe

3

.050

11/01/24

193,032‌

TOTAL

MUNICIPAL

BONDS

3,109,790‌

U.S.

TREASURY

SECURITIES

-

33

.1

%

3,182,800

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.375

07/15/23

3,132,696‌

1,587,213

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.625

01/15/24

1,549,930‌

250,000

United

States

Treasury

Note

0

.125

10/31/22

249,497‌

1,500,000

United

States

Treasury

Note

2

.625

12/31/23

1,469,355‌

8,065,000

United

States

Treasury

Note

4

.250

09/30/24

8,068,780‌

3,000,000

United

States

Treasury

Note

3

.500

09/15/25

2,938,828‌

2,300,000

e

United

States

Treasury

Note

3

.125

08/31/27

2,206,203‌

TOTAL

U.S.

TREASURY

SECURITIES

19,615,289‌

TOTAL

GOVERNMENT

BONDS

34,956,072‌

(Cost

$35,451,515)

STRUCTURED

ASSETS

-

17

.5

%

ASSET

BACKED

-

10

.3

%

446,678

Delta

Air

Lines

Pass

Through

Trust

4

.250

07/30/23

436,104‌

Series

-

2015

1

(Class

B)

351,000

Delta

Air

Lines

Pass

Through

Trust

3

.204

04/25/24

339,134‌

Series

-

2019

1

(Class

AA)

220,103

Delta

Air

Lines

Pass

Through

Trust

2

.000

06/10/28

186,682‌

Series

-

2020

1

(Class

AA)

245,785

Delta

Air

Lines

Pass

Through

Trust

2

.500

06/10/28

205,974‌

Series

-

2020

1

(Class

A)

301,015

g

GoodLeap

Sustainable

Home

Solutions

Trust

1

.930

07/20/48

241,740‌

Series

-

2021

4GS

(Class

A)

257,179

g

GoodLeap

Sustainable

Home

Solutions

Trust

2

.560

10/20/48

207,709‌

Series

-

2021

5CS

(Class

B)

116,667

g

HERO

Funding

Trust

4

.050

09/20/41

112,820‌

Series

-

2016

1A

(Class

A)

174,754

g

HERO

Funding

Trust

3

.910

09/20/42

165,119‌

Series

-

2016

3A

(Class

A2)

Portfolio

of

investments

(unaudited)

Short

Duration

Impact

Bond

Fund

September

30,

2022

325

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

127,446

g

HERO

Funding

Trust

2

.720

%

09/20/57

$

115,323‌

Series

-

2020

1A

(Class

A)

133,717

g

Mosaic

Solar

Loan

Trust

2

.100

04/20/46

115,264‌

Series

-

2020

1A

(Class

A)

299,599

g

Mosaic

Solar

Loan

Trust

1

.440

08/20/46

250,166‌

Series

-

2020

2A

(Class

A)

356,400

g

Mosaic

Solar

Loan

Trust

1

.440

06/20/52

288,283‌

Series

-

2021

3A

(Class

A)

250,000

g

Mosaic

Solar

Loan

Trust

1

.770

06/20/52

214,580‌

Series

-

2021

3A

(Class

C)

30,069

g

Renew

3

.670

09/20/52

26,976‌

Series

-

2017

1A

(Class

A)

214,611

g

Sunnova

Helios

VII

Issuer

LLC

2

.030

10/20/48

181,687‌

Series

-

2021

C

(Class

A)

276,430

g

Sunnova

Helios

VIII

Issuer

LLC

2

.790

02/22/49

243,737‌

Series

-

2022

A

(Class

A)

462,083

g

Sunrun

Atlas

Issuer

LLC

3

.610

02/01/55

409,039‌

Series

-

2019

2

(Class

A)

374,010

g

Sunrun

Callisto

Issuer

LLC

3

.980

06/30/54

339,935‌

Series

-

2019

1A

(Class

A)

308,674

g

Sunrun

Callisto

Issuer

LLC

2

.270

01/30/57

237,754‌

Series

-

2021

2A

(Class

A)

250,000

g

Tesla

Auto

Lease

Trust

2

.330

02/20/24

245,198‌

Series

-

2020

A

(Class

D)

250,000

g

Tesla

Auto

Lease

Trust

0

.560

03/20/25

241,090‌

Series

-

2021

A

(Class

A3)

600,000

g

Tesla

Auto

Lease

Trust

0

.600

09/22/25

562,462‌

Series

-

2021

B

(Class

A3)

213,409

Toyota

Auto

Receivables

Owner

Trust

0

.140

01/16/24

212,608‌

Series

-

2021

B

(Class

A2)

549,009

g

Vivint

Colar

Financing

V

LLC

7

.370

04/30/48

508,462‌

Series

-

2018

1A

(Class

B)

TOTAL

ASSET

BACKED

6,087,846‌

OTHER

MORTGAGE

BACKED

-

7

.2

%

250,000

g,i

Alen

Mortgage

Trust

LIBOR

1

M

+

2.250%

5

.068

04/15/34

233,295‌

Series

-

2021

ACEN

(Class

C)

250,000

g,i

BX

TRUST

4

.935

01/17/39

239,513‌

Series

-

2022

AHP

(Class

C)

250,000

g,i

Cityline

Commercial

Mortgage

Trust

2

.871

11/10/31

240,849‌

Series

-

2016

CLNE

(Class

A)

50,000

g,i

Connecticut

Avenue

Securities

Trust

5

.781

03/25/42

47,645‌

Series

-

2022

R03

(Class

1M2)

27,000

g,i

Connecticut

Avenue

Securities

Trust

SOFR

+

3.600%

5

.905

07/25/42

25,635‌

Series

-

2022

R08

(Class

1M2)

250,000

g,i

DBUBS

Mortgage

Trust

3

.648

10/10/34

227,312‌

Series

-

2017

BRBK

(Class

D)

149,031

GS

Mortgage

Securities

Trust

2

.922

05/10/49

143,572‌

Series

-

2016

GS2

(Class

AAB)

250,000

g,i

MAD

Mortgage

Trust

3

.294

08/15/34

235,523‌

Series

-

2017

330M

(Class

A)

250,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

1.500%

4

.318

07/15/36

246,156‌

Series

-

2019

MILE

(Class

A)

250,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

2.200%

5

.018

07/15/36

243,834‌

Series

-

2019

MILE

(Class

C)

250,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

4.250%

7

.068

07/15/36

236,424‌

Series

-

2019

MILE

(Class

F)

15,977

g,i

OBX

Trust

LIBOR

1

M

+

0.650%

3

.734

06/25/57

15,524‌

Series

-

2018

1

(Class

A2)

Portfolio

of

investments

(unaudited)

Short

Duration

Impact

Bond

Fund

September

30,

2022

326

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

250,000

g

One

Market

Plaza

Trust

3

.614

%

02/10/32

$

241,861‌

Series

-

2017

1MKT

(Class

A)

250,000

g

One

Market

Plaza

Trust

3

.845

02/10/32

239,632‌

Series

-

2017

1MKT

(Class

B)

27,382,754

g,i

SLG

Office

Trust

0

.258

07/15/41

455,496‌

Series

-

2021

OVA

(Class

X)

500,000

g,i

STWD

Mortgage

Trust

LIBOR

1

M

+

1.257%

4

.075

11/15/36

476,996‌

Series

-

2021

LIH

(Class

AS)

500,000

g,i

STWD

Mortgage

Trust

LIBOR

1

M

+

1.656%

4

.474

11/15/36

473,928‌

Series

-

2021

LIH

(Class

B)

270,000

g,i

STWD

Mortgage

Trust

LIBOR

1

M

+

1.955%

4

.773

11/15/36

254,158‌

Series

-

2021

LIH

(Class

C)

TOTAL

OTHER

MORTGAGE

BACKED

4,277,353‌

TOTAL

STRUCTURED

ASSETS

10,365,199‌

(Cost

$11,267,793)

TOTAL

BONDS

56,779,346‌

(Cost

$58,768,467)

REFERENCERATE

&

SPREAD

SHORT-TERM

INVESTMENTS

-

4.8%

REPURCHASE

AGREEMENT

-

0

.7

%

$

440,000

r

Fixed

Income

Clearing

Corp

(FICC)

2

.950

10/03/22

440,000‌

TOTAL

REPURCHASE

AGREEMENT

440,000‌

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

4

.1

%

2,426,115

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3

.070

2,426,115‌

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

2,426,115‌

TOTAL

SHORT-TERM

INVESTMENTS

2,866,115‌

(Cost

$2,866,115)

TOTAL

INVESTMENTS

-

103.8%

61,539,400‌

(Cost

$63,566,222)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(3.8)%

(

2,263,481‌

)

NET

ASSETS

-

100.0%

$

59,275,919‌

LIBOR

London

Interbank

Offered

Rate

M

Month

SOFR

Secure

Overnight

Financing

Rate

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$2,351,131.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

k

Principal

amount

for

interest

accrual

purposes

is

periodically

adjusted

based

on

changes

in

the

Consumer

Price

Index.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.950%

dated

9/30/22

to

be

repurchased

at

$440,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$448,913.

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

327

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANK

LOAN

OBLIGATIONS

-

2.0%

CAPITAL

GOODS

-

0

.0

%

$

679,000

i

American

Builders

&

Contractors

Supply

Co,

Inc

LIBOR

12

M

+

2.000%

5

.115

%

01/15/27

$

659,608‌

TOTAL

CAPITAL

GOODS

659,608‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.2

%

987,500

i

AECOM

LIBOR

12

M

+

1.750%

4

.865

04/13/28

987,297‌

1,989,873

i

GFL

Environmental,

Inc

LIBOR

4

M

+

3.000%

5

.806

05/30/25

1,972,094‌

1,714,432

i

Prime

Security

Services

Borrower

LLC

LIBOR

12

M

+

2.750%

5

.303

09/23/26

1,664,473‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

4,623,864‌

CONSUMER

SERVICES

-

0

.3

%

1,473,485

i

1011778

BC

ULC

LIBOR

12

M

+

2.000%

5

.115

07/03/28

1,412,571‌

1,943,891

i

Hilton

Worldwide

Finance

LLC

LIBOR

12

M

+

1.750%

4

.834

06/22/26

1,882,737‌

800,423

i

KFC

Holding

Co

LIBOR

12

M

+

1.750%

4

.743

03/15/28

793,755‌

1,430,000

i

Wyndham

Hotels

&

Resorts,

Inc

LIBOR

12

M

+

1.750%

4

.865

05/30/25

1,396,545‌

TOTAL

CONSUMER

SERVICES

5,485,608‌

FOOD

&

STAPLES

RETAILING

-

0

.1

%

1,000,000

h,i

US

Foods,

Inc

LIBOR

12

M

+

2.750%

5

.865

11/22/28

978,905‌

TOTAL

FOOD

&

STAPLES

RETAILING

978,905‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0

.2

%

2,466,203

i

Energizer

Holdings,

Inc

LIBOR

12

M

+

2.250%

5

.313

12/22/27

2,364,472‌

985,000

i

Spectrum

Brands,

Inc

LIBOR

12

M

+

2.000%

5

.120

03/03/28

940,675‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

3,305,147‌

MATERIALS

-

0

.1

%

1,791,687

i

Berry

Global,

Inc

LIBOR

4

M

+

1.750%

4

.178

07/01/26

1,738,895‌

TOTAL

MATERIALS

1,738,895‌

MEDIA

&

ENTERTAINMENT

-

0

.3

%

1,361,962

i

CSC

Holdings

LLC

LIBOR

12

M

+

2.250%

5

.068

07/17/25

1,303,235‌

1,500,000

i

Delta

2

Lux

Sarl

LIBOR

12

M

+

2.500%

5

.615

02/01/24

1,485,532‌

1,432,104

i

Nascar

Holdings,

Inc

LIBOR

12

M

+

2.500%

5

.615

10/19/26

1,412,183‌

793,130

i

Nielsen

Finance

LLC

LIBOR

12

M

+

2.000%

4

.705

10/04/23

792,801‌

1,290,299

i

Outfront

Media

Capital

LLC

LIBOR

12

M

+

1.750%

4

.865

11/18/26

1,237,474‌

TOTAL

MEDIA

&

ENTERTAINMENT

6,231,225‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0

.3

%

1,000,000

i

Horizon

Therapeutics

USA,

Inc

LIBOR

12

M

+

2.000%

5

.125

05/22/26

965,625‌

2,243,642

i

Jazz

Financing

Lux

Sarl

LIBOR

12

M

+

3.500%

6

.615

05/05/28

2,172,922‌

2,413,570

i

Organon

&

Co

LIBOR

4

M

+

3.000%

6

.188

06/02/28

2,365,298‌

1,000,000

h,i

Prestige

Brands,

Inc

LIBOR

12

M

+

2.000%

5

.115

07/03/28

998,750‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

6,502,595‌

SOFTWARE

&

SERVICES

-

0

.2

%

1,389,098

i

IQVIA,

Inc

LIBOR

12

M

+

1.750%

4

.865

01/17/25

1,383,326‌

1,848,021

i

Open

Text

Corp

LIBOR

12

M

+

1.750%

4

.865

05/30/25

1,817,418‌

460,965

i

SS&C

Technologies,

Inc

LIBOR

12

M

+

1.750%

4

.865

04/16/25

447,341‌

374,209

i

SS&C

Technologies,

Inc

LIBOR

12

M

+

1.750%

4

.865

04/16/25

363,149‌

TOTAL

SOFTWARE

&

SERVICES

4,011,234‌

TRANSPORTATION

-

0

.2

%

1,795,059

i

Avis

Budget

Car

Rental

LLC

LIBOR

12

M

+

1.750%

4

.870

08/06/27

1,701,267‌

1,492,500

i

Avis

Budget

Car

Rental

LLC

CME

Term

SOFR

12

+

3.500%

6

.634

03/16/29

1,441,509‌

TOTAL

TRANSPORTATION

3,142,776‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

328

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UTILITIES

-

0

.1

%

$

1,496,222

i

Core

&

Main

LP

LIBOR

4

M

+

2.500%

5

.580

%

07/27/28

$

1,433,882‌

TOTAL

UTILITIES

1,433,882‌

TOTAL

BANK

LOAN

OBLIGATIONS

38,113,739‌

(Cost

$38,995,682)

BONDS

-

94.4%

CORPORATE

BONDS

-

32

.2

%

AUTOMOBILES

&

COMPONENTS

-

0

.2

%

2,725,000

g

Denso

Corp

1

.239

09/16/26

2,349,616‌

2,250,000

g

Hyundai

Capital

Services,

Inc

2

.125

04/24/25

2,060,075‌

TOTAL

AUTOMOBILES

&

COMPONENTS

4,409,691‌

BANKS

-

10

.3

%

2,100,000

g

Banco

de

Credito

del

Peru

2

.700

01/11/25

1,953,285‌

2,375,000

e,g

Banco

del

Estado

de

Chile

2

.704

01/09/25

2,218,390‌

2,855,000

g

Banco

do

Brasil

S.A.

3

.250

09/30/26

2,525,818‌

2,000,000

g

Banco

Santander

Chile

2

.700

01/10/25

1,867,460‌

750,000

g

Banco

Santander

Mexico

S.A.

4

.125

11/09/22

748,507‌

2,000,000

g

Banco

Santander

Mexico

S.A.

Institucion

de

Banca

Multiple

Grupo

Financiero

Santand

5

.375

04/17/25

1,944,520‌

5,000,000

Banco

Santander

S.A.

3

.496

03/24/25

4,762,508‌

5,125,000

Bancolombia

S.A.

3

.000

01/29/25

4,672,579‌

24,300,000

Bank

of

America

Corp

3

.004

12/20/23

24,170,980‌

5,000,000

Bank

of

America

Corp

0

.976

04/22/25

4,647,355‌

8,000,000

Bank

of

America

Corp

0

.981

09/25/25

7,278,667‌

5,000,000

Bank

of

America

Corp

4

.827

07/22/26

4,888,469‌

500,000

Citigroup,

Inc

0

.776

10/30/24

474,830‌

23,600,000

Citigroup,

Inc

0

.981

05/01/25

21,866,377‌

2,500,000

Citigroup,

Inc

1

.281

11/03/25

2,283,722‌

15,000,000

Citigroup,

Inc

5

.610

09/29/26

14,917,245‌

5,000,000

Cooperatieve

Rabobank

UA

0

.375

01/12/24

4,723,882‌

1,775,000

g

Development

Bank

of

Kazakhstan

JSC

5

.750

05/12/25

1,768,256‌

650,000

Discover

Bank

3

.350

02/06/23

647,213‌

1,250,000

HSBC

USA,

Inc

3

.500

06/23/24

1,218,381‌

1,445,000

JPMorgan

Chase

&

Co

3

.200

01/25/23

1,440,379‌

5,000,000

JPMorgan

Chase

&

Co

4

.023

12/05/24

4,919,826‌

725,000

JPMorgan

Chase

&

Co

0

.563

02/16/25

677,868‌

20,000,000

JPMorgan

Chase

&

Co

0

.824

06/01/25

18,515,331‌

14,000,000

JPMorgan

Chase

&

Co

4

.080

04/26/26

13,479,374‌

5,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

0

.848

09/15/24

4,769,222‌

5,000,000

Mitsubishi

UFJ

Financial

Group,

Inc

5

.063

09/12/25

4,947,428‌

2,875,000

National

Bank

of

Canada

0

.550

11/15/24

2,721,660‌

1,625,000

NatWest

Group

plc

2

.359

05/22/24

1,586,826‌

5,000,000

g

Skandinaviska

Enskilda

Banken

AB

0

.550

09/01/23

4,807,904‌

5,000,000

Sumitomo

Mitsui

Financial

Group,

Inc

0

.508

01/12/24

4,710,107‌

2,100,000

g

Svenska

Handelsbanken

AB

0

.625

06/30/23

2,037,933‌

3,000,000

Toronto-Dominion

Bank

0

.750

06/12/23

2,918,014‌

5,000,000

Toronto-Dominion

Bank

0

.450

09/11/23

4,793,757‌

1,680,000

Truist

Financial

Corp

3

.750

12/06/23

1,664,169‌

5,000,000

g

UBS

AG.

0

.450

02/09/24

4,701,535‌

4,000,000

g

United

Overseas

Bank

Ltd

1

.250

04/14/26

3,547,340‌

TOTAL

BANKS

191,817,117‌

CAPITAL

GOODS

-

0

.9

%

3,721,000

Air

Lease

Corp

2

.250

01/15/23

3,689,648‌

2,000,000

g

BOC

Aviation

Ltd

3

.500

10/10/24

1,924,537‌

5,000,000

Boeing

Co

1

.433

02/04/24

4,749,787‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

329

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CAPITAL

GOODS—continued

$

2,500,000

g

DAE

Funding

LLC

2

.625

%

03/20/25

$

2,279,638‌

1,875,000

g

Korea

East-West

Power

Co

Ltd

3

.600

05/06/25

1,810,581‌

272,000

Raytheon

Technologies

Corp

3

.650

08/16/23

269,359‌

3,000,000

g

TSMC

Global

Ltd

0

.750

09/28/25

2,657,142‌

TOTAL

CAPITAL

GOODS

17,380,692‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.1

%

2,000,000

ADT

Corp

4

.125

06/15/23

1,981,500‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

1,981,500‌

CONSUMER

DURABLES

&

APPAREL

-

0

.1

%

1,455,000

Lennar

Corp

4

.875

12/15/23

1,449,281‌

480,000

e

Newell

Brands,

Inc

6

.375

09/15/27

475,310‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

1,924,591‌

CONSUMER

SERVICES

-

0

.1

%

1,475,000

Hyatt

Hotels

Corp

1

.300

10/01/23

1,418,773‌

TOTAL

CONSUMER

SERVICES

1,418,773‌

DIVERSIFIED

FINANCIALS

-

6

.7

%

7,000,000

AerCap

Ireland

Capital

DAC

3

.150

02/15/24

6,722,845‌

15,000,000

AerCap

Ireland

Capital

DAC

1

.650

10/29/24

13,703,806‌

5,500,000

American

Express

Co

3

.375

05/03/24

5,362,970‌

3,000,000

American

Honda

Finance

Corp

0

.875

07/07/23

2,915,737‌

5,000,000

g

Banco

BTG

Pactual

S.A.

2

.750

01/11/26

4,340,000‌

4,000,000

Capital

One

Bank

USA

NA

3

.375

02/15/23

3,983,507‌

7,000,000

Capital

One

Financial

Corp

4

.166

05/09/25

6,808,821‌

5,000,000

Credit

Suisse

AG.

0

.495

02/02/24

4,657,058‌

2,950,000

Deutsche

Bank

AG.

0

.898

05/28/24

2,724,727‌

3,000,000

Discover

Financial

Services

3

.850

11/21/22

2,996,198‌

10,000,000

g

Federation

des

Caisses

Desjardins

du

Quebec

0

.700

05/21/24

9,285,775‌

5,000,000

General

Motors

Financial

Co,

Inc

1

.700

08/18/23

4,850,750‌

3,910,000

General

Motors

Financial

Co,

Inc

3

.950

04/13/24

3,813,537‌

4,000,000

General

Motors

Financial

Co,

Inc

1

.200

10/15/24

3,671,677‌

3,000,000

Goldman

Sachs

Group,

Inc

0

.627

11/17/23

2,981,850‌

5,000,000

Goldman

Sachs

Group,

Inc

0

.673

03/08/24

4,888,090‌

5,000,000

Goldman

Sachs

Group,

Inc

0

.657

09/10/24

4,759,522‌

4,000,000

Morgan

Stanley

3

.620

04/17/25

3,884,656‌

5,000,000

Morgan

Stanley

0

.790

05/30/25

4,602,008‌

5,000,000

Morgan

Stanley

1

.164

10/21/25

4,556,910‌

4,000,000

Morgan

Stanley

4

.679

07/17/26

3,894,890‌

2,775,000

Morgan

Stanley

1

.512

07/20/27

2,363,429‌

2,700,000

g

NatWest

Markets

plc

0

.800

08/12/24

2,479,785‌

3,000,000

Toronto-Dominion

Bank

3

.766

06/06/25

2,898,683‌

4,500,000

Toyota

Motor

Credit

Corp

0

.500

08/14/23

4,350,474‌

4,725,000

g

UBS

Group

AG

1

.008

07/30/24

4,558,684‌

2,000,000

g

United

Overseas

Bank

Ltd

3

.059

04/07/25

1,923,680‌

TOTAL

DIVERSIFIED

FINANCIALS

123,980,069‌

ENERGY

-

2

.0

%

3,000,000

e

Canadian

Natural

Resources

Ltd

2

.050

07/15/25

2,735,197‌

5,000,000

Enbridge,

Inc

0

.550

10/04/23

4,780,277‌

4,775,000

Enbridge,

Inc

2

.500

02/14/25

4,484,880‌

2,230,000

g

Energean

Israel

Finance

Ltd

4

.500

03/30/24

2,089,283‌

5,000,000

Energy

Transfer

Operating

LP

4

.500

04/15/24

4,921,236‌

3,500,000

g

Leviathan

Bond

Ltd

5

.750

06/30/23

3,448,182‌

1,000,000

Marathon

Petroleum

Corp

4

.700

05/01/25

981,815‌

132,500

Petroleos

Mexicanos

2

.000

12/20/22

131,821‌

2,000,000

e

Petroleos

Mexicanos

3

.500

01/30/23

1,973,540‌

417,000

Petroleos

Mexicanos

2

.378

04/15/25

404,719‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

330

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

1,000,000

Petroleos

Mexicanos

4

.500

%

01/23/26

$

861,500‌

1,350,000

Phillips

66

0

.900

02/15/24

1,278,303‌

5,000,000

g

Saudi

Arabian

Oil

Co

2

.875

04/16/24

4,829,892‌

5,000,000

TransCanada

PipeLines

Ltd

1

.000

10/12/24

4,607,499‌

TOTAL

ENERGY

37,528,144‌

FOOD

&

STAPLES

RETAILING

-

0

.5

%

5,000,000

Walmart,

Inc

2

.350

12/15/22

4,986,800‌

5,000,000

Walmart,

Inc

3

.900

09/09/25

4,912,511‌

TOTAL

FOOD

&

STAPLES

RETAILING

9,899,311‌

FOOD,

BEVERAGE

&

TOBACCO

-

0

.3

%

1,850,000

BAT

Capital

Corp

3

.222

08/15/24

1,780,176‌

3,000,000

Constellation

Brands,

Inc

3

.600

05/09/24

2,934,801‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

4,714,977‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0

.7

%

3,250,000

DH

Europe

Finance

II

Sarl

2

.200

11/15/24

3,073,062‌

3,300,000

Humana,

Inc

0

.650

08/03/23

3,186,448‌

5,000,000

PerkinElmer,

Inc

0

.550

09/15/23

4,783,082‌

2,000,000

Tenet

Healthcare

Corp

4

.625

07/15/24

1,933,960‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

12,976,552‌

INSURANCE

-

0

.7

%

3,000,000

g

MassMutual

Global

Funding

II

0

.850

06/09/23

2,923,038‌

3,000,000

g

Principal

Life

Global

Funding

II

0

.750

04/12/24

2,799,721‌

2,500,000

g

Principal

Life

Global

Funding

II

0

.875

01/12/26

2,172,975‌

5,000,000

g

Protective

Life

Global

Funding

0

.473

01/12/24

4,708,640‌

TOTAL

INSURANCE

12,604,374‌

MATERIALS

-

1

.4

%

6,250,000

Berry

Global,

Inc

0

.950

02/15/24

5,871,960‌

1,200,000

g

Freeport

Indonesia

PT

4

.763

04/14/27

1,080,347‌

4,725,000

g

Orbia

Advance

Corp

SAB

de

C.V.

1

.875

05/11/26

3,992,625‌

3,000,000

g

POSCO

4

.375

08/04/25

2,898,239‌

1,550,000

g

SABIC

Capital

II

BV

4

.000

10/10/23

1,529,517‌

3,000,000

Sasol

Financing

International

plc

4

.500

11/14/22

2,981,100‌

3,000,000

Sherwin-Williams

Co

4

.050

08/08/24

2,950,052‌

2,000,000

Westlake

Chemical

Corp

0

.875

08/15/24

1,865,416‌

3,000,000

WRKCo,

Inc

3

.000

09/15/24

2,864,438‌

TOTAL

MATERIALS

26,033,694‌

MEDIA

&

ENTERTAINMENT

-

1

.0

%

2,000,000

g

CCO

Holdings

LLC

5

.125

05/01/27

1,805,000‌

5,000,000

Charter

Communications

Operating

LLC

4

.500

02/01/24

4,942,000‌

6,875,000

g

Magallanes,

Inc

3

.638

03/15/25

6,510,776‌

3,400,000

g

Misc

Capital

Two

Labuan

Ltd

3

.625

04/06/25

3,248,292‌

3,000,000

Take-Two

Interactive

Software,

Inc

3

.300

03/28/24

2,924,020‌

TOTAL

MEDIA

&

ENTERTAINMENT

19,430,088‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

1

.4

%

13,000,000

AbbVie,

Inc

2

.300

11/21/22

12,968,540‌

4,450,000

AbbVie,

Inc

3

.800

03/15/25

4,309,843‌

5,000,000

Takeda

Pharmaceutical

Co

Ltd

4

.400

11/26/23

4,967,708‌

2,000,000

Teva

Pharmaceutical

Finance

Co

BV

2

.950

12/18/22

1,982,870‌

1,045,000

Teva

Pharmaceutical

Finance

Netherlands

III

BV

4

.750

05/09/27

887,529‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

25,116,490‌

REAL

ESTATE

-

1

.7

%

2,000,000

American

Tower

Corp

3

.375

05/15/24

1,947,251‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

331

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REAL

ESTATE—continued

$

1,450,000

AvalonBay

Communities,

Inc

3

.500

%

11/15/24

$

1,411,226‌

2,600,000

Boston

Properties

LP

3

.125

09/01/23

2,553,295‌

1,044,000

Brandywine

Operating

Partnership

LP

4

.100

10/01/24

1,007,291‌

3,000,000

Brixmor

Operating

Partnership

LP

3

.650

06/15/24

2,897,148‌

5,000,000

Essex

Portfolio

LP

3

.875

05/01/24

4,893,728‌

410,000

Federal

Realty

Investment

Trust

3

.950

01/15/24

404,883‌

850,000

Highwoods

Realty

LP

3

.625

01/15/23

849,555‌

1,665,000

g

SBA

Tower

Trust

2

.836

01/15/25

1,557,674‌

13,365,000

g

SBA

Tower

Trust

1

.884

01/15/26

11,751,399‌

2,500,000

g

SBA

Tower

Trust

1

.631

11/15/26

2,131,028‌

TOTAL

REAL

ESTATE

31,404,478‌

RETAILING

-

0

.7

%

1,150,000

Genuine

Parts

Co

1

.750

02/01/25

1,061,627‌

5,000,000

g

GSK

Consumer

Healthcare

Capital

UK

plc

3

.125

03/24/25

4,719,732‌

2,150,000

g

Kia

Corp

1

.000

04/16/24

2,015,460‌

1,335,000

g

Kia

Corp

2

.375

02/14/25

1,240,673‌

3,000,000

g

Prosus

NV

3

.257

01/19/27

2,511,428‌

1,600,000

g

Volkswagen

Group

of

America

Finance

LLC

3

.125

05/12/23

1,582,128‌

TOTAL

RETAILING

13,131,048‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0

.5

%

5,000,000

NVIDIA

Corp

0

.584

06/14/24

4,670,457‌

3,000,000

g

SK

Hynix,

Inc

1

.500

01/19/26

2,597,436‌

1,075,000

TSMC

Arizona

Corp

1

.750

10/25/26

945,144‌

1,325,000

TSMC

Arizona

Corp

3

.875

04/22/27

1,262,800‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

9,475,837‌

SOFTWARE

&

SERVICES

-

0

.7

%

5,000,000

Adobe,

Inc

1

.900

02/01/25

4,700,533‌

5,000,000

Fidelity

National

Information

Services,

Inc

0

.600

03/01/24

4,688,798‌

2,100,000

g

HCL

America,

Inc

1

.375

03/10/26

1,838,122‌

925,000

g

NortonLifeLock,

Inc

6

.750

09/30/27

887,565‌

TOTAL

SOFTWARE

&

SERVICES

12,115,018‌

TELECOMMUNICATION

SERVICES

-

0

.4

%

2,400,000

g

KT

Corp

4

.000

08/08/25

2,320,540‌

5,000,000

T-Mobile

USA,

Inc

3

.500

04/15/25

4,778,825‌

TOTAL

TELECOMMUNICATION

SERVICES

7,099,365‌

TRANSPORTATION

-

0

.4

%

5,000,000

Canadian

Pacific

Railway

Co

1

.350

12/02/24

4,623,598‌

3,000,000

g

Grupo

Aeromexico

SAB

de

C.V.

8

.500

03/17/27

2,624,847‌

TOTAL

TRANSPORTATION

7,248,445‌

UTILITIES

-

1

.4

%

2,000,000

g

AIG

Global

Funding

0

.800

07/07/23

1,938,720‌

3,000,000

Atmos

Energy

Corp

0

.625

03/09/23

2,952,102‌

3,225,000

Consumers

Energy

Co

0

.350

06/01/23

3,130,443‌

3,000,000

DTE

Energy

Co

2

.250

11/01/22

2,995,057‌

5,000,000

NextEra

Energy

Capital

Holdings,

Inc

0

.650

03/01/23

4,923,340‌

5,000,000

g

Southern

Natural

Gas

Co

LLC

0

.625

04/28/23

4,862,857‌

3,000,000

g

Tengizchevroil

Finance

Co

International

Ltd

2

.625

08/15/25

2,469,764‌

2,020,000

WEC

Energy

Group,

Inc

0

.550

09/15/23

1,935,447‌

TOTAL

UTILITIES

25,207,730‌

TOTAL

CORPORATE

BONDS

596,897,984‌

(Cost

$630,175,757)

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

332

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

GOVERNMENT

BONDS

-

39

.7

%

AGENCY

SECURITIES

-

1

.0

%

$

2,235,000

Montefiore

Medical

Center

2

.152

%

10/20/26

$

2,058,015‌

5,900,000

Private

Export

Funding

Corp

(PEFCO)

1

.750

11/15/24

5,538,056‌

3,684,210

Reliance

Industries

Ltd

1

.870

01/15/26

3,496,665‌

3,500,000

Reliance

Industries

Ltd

2

.060

01/15/26

3,333,181‌

4,605,263

Reliance

Industries

Ltd

2

.444

01/15/26

4,429,576‌

36,629

San

Clemente

Leasing

LLC

3

.030

11/22/22

36,559‌

TOTAL

AGENCY

SECURITIES

18,892,052‌

FOREIGN

GOVERNMENT

BONDS

-

8

.6

%

1,450,000

g

African

Export-Import

Bank

2

.634

05/17/26

1,258,254‌

3,325,000

g

Arab

Petroleum

Investments

Corp

4

.125

09/18/23

3,306,336‌

5,000,000

g

BNG

Bank

NV

3

.500

08/26/24

4,915,394‌

3,000,000

g

BNG

Bank

NV

0

.875

05/18/26

2,641,830‌

3,250,000

Brazilian

Government

International

Bond

2

.625

01/05/23

3,230,337‌

2,500,000

Brazilian

Government

International

Bond

2

.875

06/06/25

2,337,660‌

5,000,000

g

Caisse

d'Amortissement

de

la

Dette

Sociale

0

.375

09/23/25

4,431,200‌

10,000,000

g

CDP

Financial,

Inc

0

.875

06/10/25

9,079,795‌

2,500,000

g

Development

Bank

of

Japan,

Inc

0

.500

03/04/24

2,361,717‌

1,725,000

g

Egypt

Government

International

Bond

5

.577

02/21/23

1,672,611‌

1,500,000

g

Egypt

Government

International

Bond

4

.550

11/20/23

1,364,896‌

3,200,000

Export-Import

Bank

of

India

4

.000

01/14/23

3,190,540‌

1,000,050

g

Honduras

Government

International

Bond

7

.500

03/15/24

975,208‌

8,900,000

g

International

Development

Association

2

.750

04/24/23

8,825,418‌

6,100,000

Japan

Bank

for

International

Cooperation

1

.750

01/23/23

6,058,093‌

6,650,000

g

Japan

Finance

Organization

for

Municipalities

3

.375

09/27/23

6,582,237‌

1,560,000

g

Kommunalbanken

AS.

2

.750

02/05/24

1,527,301‌

10,000,000

g

Kommunalbanken

AS.

0

.375

09/11/25

8,894,200‌

1,200,000

g

Kommuninvest

I

Sverige

AB

2

.875

07/03/24

1,169,667‌

3,000,000

g

Korea

Electric

Power

Corp

3

.625

06/14/25

2,897,324‌

1,875,000

g

Korea

Housing

Finance

Corp

3

.000

10/31/22

1,873,088‌

2,800,000

g

Korea

Hydro

&

Nuclear

Power

Co

Ltd

1

.250

04/27/26

2,451,616‌

12,000,000

i

Kreditanstalt

fuer

Wiederaufbau

SOFR

+

1.000%

3

.612

02/12/24

12,149,166‌

10,000,000

e

Mexico

Government

International

Bond

2

.659

05/24/31

7,666,840‌

2,025,000

g

Morocco

Government

International

Bond

4

.250

12/11/22

2,014,875‌

3,000,000

g

Morocco

Government

International

Bond

2

.375

12/15/27

2,462,042‌

5,950,000

g

OMERS

Finance

Trust

2

.500

05/02/24

5,765,384‌

5,000,000

g

Ontario

Teachers'

Finance

Trust

1

.625

09/12/24

4,731,847‌

5,000,000

g

Perusahaan

Penerbit

SBSN

Indonesia

III

3

.750

03/01/23

4,978,341‌

3,400,000

g

Perusahaan

Penerbit

SBSN

Indonesia

III

3

.900

08/20/24

3,362,736‌

5,400,000

Province

of

British

Columbia

Canada

1

.300

01/29/31

4,266,918‌

5,000,000

Province

of

Quebec

Canada

1

.900

04/21/31

4,139,500‌

3,000,000

g

Qatar

Government

International

Bond

3

.375

03/14/24

2,936,796‌

4,000,000

g

Qatar

Government

International

Bond

4

.000

03/14/29

3,828,416‌

6,800,000

Republic

of

Italy

Government

International

Bond

2

.375

10/17/24

6,374,150‌

1,500,000

g

Republic

of

Paraguay

Government

International

Bond

4

.625

01/25/23

1,492,526‌

2,000,000

g

Republic

of

Uzbekistan

International

Bond

4

.750

02/20/24

1,879,505‌

5,200,000

g

Saudi

Government

International

Bond

3

.250

10/26/26

4,946,068‌

1,540,000

Svensk

Exportkredit

AB

1

.750

12/12/23

1,492,683‌

5,000,000

Svensk

Exportkredit

AB

0

.500

08/26/25

4,459,039‌

TOTAL

FOREIGN

GOVERNMENT

BONDS

159,991,554‌

MORTGAGE

BACKED

-

5

.5

%

1,500,000

g,i

Connecticut

Avenue

Securities

Trust

4

.181

12/25/41

1,369,663‌

4,000,000

g,i

Connecticut

Avenue

Securities

Trust

5

.381

03/25/42

3,756,459‌

6,000,000

g,i

Connecticut

Avenue

Securities

Trust

6

.955

06/25/42

5,951,246‌

6,225,000

g,i

Freddie

Mac

STACR

REMIC

Trust

4

.531

08/25/33

6,143,671‌

9,290,000

g,i

Freddie

Mac

STACR

REMIC

Trust

3

.781

10/25/41

8,451,372‌

14,004,728

g,i

Freddie

Mac

STACR

REMIC

Trust

3

.281

01/25/42

13,611,247‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

333

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MORTGAGE

BACKED—continued

$

20,000,000

g,i

Freddie

Mac

STACR

REMIC

Trust

5

.631

%

05/25/42

$

19,055,190‌

7,346,171

Government

National

Mortgage

Association

(GNMA)

2

.000

05/15/31

6,571,811‌

18,222,602

GNMA

1

.730

07/15/37

15,507,243‌

21,045,735

GNMA

4

.250

09/15/38

20,928,297‌

TOTAL

MORTGAGE

BACKED

101,346,199‌

MUNICIPAL

BONDS

-

0

.9

%

11,755,000

City

of

New

York

NY

2

.280

08/01/25

11,030,197‌

6,000,000

Massachusetts

Water

Resources

Authority

3

.104

08/01/39

4,748,988‌

TOTAL

MUNICIPAL

BONDS

15,779,185‌

U.S.

TREASURY

SECURITIES

-

23

.7

%

30,791,923

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.625

01/15/24

30,068,633‌

41,115,550

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.500

04/15/24

39,951,680‌

13,725,470

d,k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

07/15/24

13,255,802‌

17,321,700

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

10/15/24

16,657,025‌

25,376,750

k

United

States

Treasury

Inflation

Indexed

Bonds

2

.000

01/15/26

25,296,456‌

30,503,250

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

04/15/26

28,485,686‌

3,252,720

k

United

States

Treasury

Inflation

Indexed

Bonds

0

.125

10/15/26

3,029,921‌

25,000,000

United

States

Treasury

Note

0

.125

07/31/23

24,164,063‌

46,100,000

United

States

Treasury

Note

0

.125

08/31/23

44,391,059‌

132,830,000

United

States

Treasury

Note

4

.250

09/30/24

132,892,264‌

10,000,000

United

States

Treasury

Note

1

.750

03/15/25

9,416,406‌

36,696,000

United

States

Treasury

Note

3

.500

09/15/25

35,947,746‌

25,860,000

e

United

States

Treasury

Note

3

.125

08/31/27

24,805,397‌

12,275,000

e

United

States

Treasury

Note

2

.750

08/15/32

11,223,953‌

TOTAL

U.S.

TREASURY

SECURITIES

439,586,091‌

TOTAL

GOVERNMENT

BONDS

735,595,081‌

(Cost

$775,934,463)

STRUCTURED

ASSETS

-

22

.5

%

ASSET

BACKED

-

8

.2

%

78,844

Aames

Mortgage

Trust

(Step

Bond)

7

.396

06/25/32

76,339‌

Series

-

2002

1

(Class

A3)

55,677

†,g

Asset

Backed

Funding

Corp

NIM

Trust

5

.900

07/26/35

1‌

Series

-

2005

WMC1

(Class

N1)

1,145,230

i

Asset

Backed

Securities

Corp

Home

Equity

Loan

Trust

LIBOR

1

M

+

1.650%

4

.468

03/15/32

1,120,711‌

Series

-

2002

HE1

(Class

M1)

4,214,000

i

Bayview

Financial

Mortgage

Pass-Through

Trust

LIBOR

1

M

+

1.125%

4

.238

02/28/41

4,147,840‌

Series

-

2006

A

(Class

M4)

1,952,158

g

Capital

Automotive

REIT

1

.440

08/15/51

1,662,052‌

Series

-

2021

1A

(Class

A1)

2,113,237

g

Capital

Automotive

REIT

1

.920

08/15/51

1,789,892‌

Series

-

2021

1A

(Class

A3)

8,600,000

CarMax

Auto

Owner

Trust

0

.740

10/15/26

7,712,275‌

Series

-

2021

1

(Class

B)

7,000,000

CarMax

Auto

Owner

Trust

1

.000

03/15/27

6,314,472‌

Series

-

2021

3

(Class

B)

1,318

Centex

Home

Equity

5

.540

01/25/32

1,286‌

Series

-

2002

A

(Class

AF6)

49,605

i

Centex

Home

Equity

LIBOR

1

M

+

0.645%

3

.729

03/25/34

47,137‌

Series

-

2004

B

(Class

M1)

9,803,362

g

CF

Hippolyta

LLC

1

.690

07/15/60

8,707,692‌

Series

-

2020

1

(Class

A1)

122,341

i

Chase

Funding

Mortgage

Loan

Asset-Backed

Certificates

5

.700

02/26/35

110,257‌

Series

-

2004

2

(Class

1M2)

2,540,000

CNH

Equipment

Trust

0

.900

01/16/29

2,258,545‌

Series

-

2021

B

(Class

B)

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

334

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ASSET

BACKED—continued

$

6,749,000

g

DB

Master

Finance

LLC

2

.045

%

11/20/51

$

5,730,988‌

Series

-

2021

1A

(Class

A2I)

10,862,500

g

Domino's

Pizza

Master

Issuer

LLC

2

.662

04/25/51

8,945,095‌

Series

-

2021

1A

(Class

A2I)

3,194,493

g

FCI

Funding

LLC

1

.130

04/15/33

3,097,604‌

Series

-

2021

1A

(Class

A)

2,629,502

g

FNA

VI

LLC

1

.350

01/10/32

2,403,352‌

Series

-

2021

1A

(Class

A)

4,500,000

Ford

Credit

Auto

Owner

Trust

0

.700

10/15/26

4,107,893‌

Series

-

2021

A

(Class

B)

1,500,000

g

Ford

Credit

Auto

Owner

Trust

1

.610

10/17/33

1,305,865‌

Series

-

2021

1

(Class

B)

3,350,000

GM

Financial

Consumer

Automobile

Receivables

Trust

0

.750

05/17/27

3,057,991‌

Series

-

2021

1

(Class

B)

6,500,000

g

Hyundai

Auto

Lease

Securitization

Trust

0

.610

10/15/25

6,302,453‌

Series

-

2021

A

(Class

B)

1,000,000

g,i

Irvine

Core

Office

Trust

3

.279

05/15/48

984,240‌

Series

-

2013

IRV

(Class

A2)

6,100,000

g,i

MSCG

Trust

3

.577

06/07/35

5,150,867‌

Series

-

2015

ALDR

(Class

C)

2,922,309

g

Navient

Private

Education

Refi

Loan

Trust

0

.840

05/15/69

2,570,626‌

Series

-

2021

A

(Class

A)

3,000,000

g

Oportun

Funding

XIV

LLC

1

.210

03/08/28

2,785,374‌

Series

-

2021

A

(Class

A)

2,000,000

g

Oportun

Issuance

Trust

1

.960

05/08/31

1,775,007‌

Series

-

2021

B

(Class

B)

1,004,319

i

Park

Place

Securities,

Inc

LIBOR

1

M

+

1.245%

4

.329

01/25/36

995,686‌

Series

-

2005

WCH1

(Class

M4)

5,000,000

g

PFS

Financing

Corp

1

.570

10/15/25

4,790,941‌

Series

-

2020

E

(Class

B)

7,000,000

g

PFS

Financing

Corp

0

.710

04/15/26

6,530,833‌

Series

-

2021

A

(Class

A)

5,500,000

g

Santander

Consumer

Auto

Receivables

Trust

0

.710

08/17/26

5,088,592‌

Series

-

2021

AA

(Class

B)

7,203,341

SCE

Recovery

Funding

LLC

0

.861

11/15/31

5,891,469‌

2,462,500

g

ServiceMaster

Funding

LLC

2

.841

10/30/51

2,006,327‌

Series

-

2020

1

(Class

A2I)

5,678,125

g

SERVPRO

Master

Issuer

LLC

2

.394

04/25/51

4,477,792‌

Series

-

2021

1A

(Class

A2)

2,175,533

g

Sierra

Timeshare

Receivables

Funding

LLC

0

.990

11/20/37

2,015,913‌

Series

-

2021

1A

(Class

A)

9,085

g

SoFi

Professional

Loan

Program

LLC

2

.360

12/27/32

9,085‌

Series

-

2016

C

(Class

A2B)

264,241

g

SoFi

Professional

Loan

Program

LLC

2

.340

04/25/33

259,577‌

Series

-

2016

D

(Class

A2B)

83,552

g

SoFi

Professional

Loan

Program

LLC

2

.630

07/25/40

82,170‌

Series

-

2017

C

(Class

A2B)

12,743,700

g

Taco

Bell

Funding

LLC

1

.946

08/25/51

10,645,361‌

Series

-

2021

1A

(Class

A2I)

5,000,000

g

Tesla

Auto

Lease

Trust

1

.020

03/20/25

4,756,785‌

Series

-

2021

A

(Class

B)

10,185,000

Verizon

Master

Trust

0

.890

05/20/27

9,480,743‌

Series

-

2021

1

(Class

C)

10,000,000

Verizon

Owner

Trust

0

.680

02/20/25

9,561,776‌

Series

-

2020

B

(Class

B)

5,737,375

g

Wendy's

Funding

LLC

2

.370

06/15/51

4,561,041‌

Series

-

2021

1A

(Class

A2I)

TOTAL

ASSET

BACKED

153,319,945‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

335

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED

-

14

.3

%

$

3,172,432

g,i

ACRE

Commercial

Mortgage

Ltd

LIBOR

1

M

+

0.830%

3

.823

%

12/18/37

$

3,143,423‌

Series

-

2021

FL4

(Class

A)

5,242,000

g,i

Angel

Oak

Mortgage

Trust

3

.161

12/25/59

4,667,056‌

Series

-

2020

1

(Class

M1)

2,500,000

g,i

Ashford

Hospitality

Trust

LIBOR

1

M

+

2.750%

2

.860

06/15/35

2,402,511‌

Series

-

2018

KEYS

(Class

D)

7,500,000

g,i

BAMLL

Commercial

Mortgage

Securities

Trust

4

.996

01/15/39

7,213,429‌

Series

-

2022

DKLX

(Class

C)

4,119,000

g,i

BBCMS

Trust

LIBOR

1

M

+

1.000%

3

.818

07/15/37

4,016,577‌

Series

-

2018

CBM

(Class

A)

254,820

i

Bear

Stearns

ALT-A

Trust

LIBOR

1

M

+

0.600%

3

.684

06/25/34

255,191‌

Series

-

2004

4

(Class

A1)

1,280,510

g,i

BHP

Trust

LIBOR

1

M

+

0.975%

3

.793

08/15/36

1,246,457‌

Series

-

2019

BXHP

(Class

A)

3,060,000

g,i

BX

Commercial

Mortgage

Trust

LIBOR

1

M

+

1.250%

4

.068

10/15/36

2,971,578‌

Series

-

2019

XL

(Class

C)

4,667,310

g,i

BX

Commercial

Mortgage

Trust

LIBOR

1

M

+

0.998%

3

.816

10/15/38

4,419,923‌

Series

-

2021

XL2

(Class

B)

7,887,754

g,i

BX

Commercial

Mortgage

Trust

LIBOR

1

M

+

1.197%

4

.015

10/15/38

7,451,524‌

Series

-

2021

XL2

(Class

C)

1,400,193

g,i

BX

Commercial

Mortgage

Trust

LIBOR

1

M

+

1.846%

4

.664

10/15/38

1,313,108‌

Series

-

2021

XL2

(Class

E)

1,000,000

g,i

BX

Commercial

Mortgage

Trust

4

.685

01/17/39

961,644‌

Series

-

2022

AHP

(Class

B)

1,400,738

g,i

BX

TRUST

4

.484

02/15/39

1,322,378‌

Series

-

2022

LP2

(Class

C)

3,738,853

g,i

Chase

Mortgage

Trust

3

.750

12/25/45

3,306,870‌

Series

-

2016

SH2

(Class

M2)

20,506

Citicorp

Mortgage

Securities

Trust

5

.500

02/25/26

19,745‌

Series

-

2006

1

(Class

5A1)

1,400,000

i

Citigroup

Commercial

Mortgage

Trust

4

.134

04/10/46

1,376,375‌

Series

-

2013

GC11

(Class

C)

951,069

g,i

Citigroup

Mortgage

Loan

Trust

LIBOR

1

M

+

0.290%

2

.631

09/25/36

927,603‌

Series

-

2006

AMC1

(Class

A1)

3,000,000

g

COMM

Mortgage

Trust

3

.376

01/10/39

2,565,444‌

Series

-

2022

HC

(Class

C)

3,623,360

g

COMM

Mortgage

Trust

3

.397

03/10/46

3,580,757‌

Series

-

2013

CR6

(Class

B)

1,600,000

g,i

COMM

Mortgage

Trust

5

.031

08/10/46

1,565,787‌

Series

-

2013

CR10

(Class

C)

2,983,000

g,i

COMM

Mortgage

Trust

5

.031

08/10/46

2,865,468‌

Series

-

2013

CR10

(Class

D)

2,014,904

COMM

Mortgage

Trust

4

.701

03/10/47

1,963,257‌

Series

-

2014

UBS2

(Class

B)

2,000,000

i

COMM

Mortgage

Trust

4

.703

08/10/47

1,928,595‌

Series

-

2014

CR19

(Class

B)

1,000,000

g,i

COMM

Mortgage

Trust

4

.854

08/10/47

913,035‌

Series

-

2014

CR19

(Class

D)

1,012,000

i

COMM

Mortgage

Trust

4

.428

05/10/48

945,225‌

Series

-

2015

CR23

(Class

C)

4,115,000

i

COMM

Mortgage

Trust

4

.476

07/10/48

3,859,126‌

Series

-

2015

LC21

(Class

B)

3,000,000

i

COMM

Mortgage

Trust

3

.463

08/10/48

2,521,979‌

Series

-

2015

CR24

(Class

D)

3,970,000

i

COMM

Mortgage

Trust

4

.669

08/10/48

3,711,973‌

Series

-

2015

CR25

(Class

B)

2,500,000

i

COMM

Mortgage

Trust

4

.619

10/10/48

2,351,068‌

Series

-

2015

CR26

(Class

B)

737,511

i

Connecticut

Avenue

Securities

Trust

LIBOR

1

M

+

2.600%

5

.684

05/25/24

736,399‌

Series

-

2014

C02

(Class

1M2)

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

336

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

2,898,220

i

Connecticut

Avenue

Securities

Trust

LIBOR

1

M

+

3.000%

6

.084

%

07/25/24

$

2,912,102‌

Series

-

2014

C03

(Class

1M2)

10,000,000

g,i

Connecticut

Avenue

Securities

Trust

3

.831

10/25/41

9,512,556‌

Series

-

2021

R01

(Class

1M2)

10,244,484

g,i

Connecticut

Avenue

Securities

Trust

3

.131

12/25/41

10,020,590‌

Series

-

2021

R03

(Class

1M1)

2,523,039

g

Credit

Suisse

Commercial

Mortgage

Trust

3

.304

09/15/37

2,303,726‌

Series

-

2014

USA

(Class

A1)

4,150,000

g,i

Credit

Suisse

Mortgage

Capital

Certificates

LIBOR

1

M

+

0.980%

3

.798

05/15/36

4,095,828‌

Series

-

2019

ICE4

(Class

A)

1,400,000

g

CSMC

2

.816

08/15/37

1,265,139‌

Series

-

2020

NET

(Class

B)

2,501,795

g

CSMC

Trust

1

.414

05/25/65

2,294,096‌

Series

-

2020

NQM1

(Class

A2)

31,378

Deutsche

Mortgage

Securities,

Inc

Mortgage

Loan

Trust

(Step

Bond)

5

.940

07/25/34

30,580‌

Series

-

2004

5

(Class

A5B)

1,025,000

g,i

ELP

Commercial

Mortgage

Trust

LIBOR

1

M

+

2.118%

4

.936

11/15/38

958,965‌

Series

-

2021

ELP

(Class

E)

7,656,949

g,i

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

1

.349

02/25/42

7,524,497‌

Series

-

2022

DNA2

(Class

M1A)

1,050,000

g

GS

Mortgage

Securities

Corp

II

3

.419

10/10/32

1,048,605‌

Series

-

2017

SLP

(Class

A)

3,000,000

g

GS

Mortgage

Securities

Corp

II

2

.954

11/05/34

2,851,954‌

Series

-

2012

BWTR

(Class

A)

5,956,000

g

GS

Mortgage

Securities

Corp

II

3

.682

02/10/46

5,901,380‌

Series

-

2013

GC10

(Class

B)

2,598,000

g,i

GS

Mortgage

Securities

Corp

II

4

.541

02/10/46

2,349,135‌

Series

-

2013

GC10

(Class

D)

2,000,000

g,i

GS

Mortgage

Securities

Trust

LIBOR

1

M

+

1.090%

3

.910

10/15/31

1,980,051‌

Series

-

2018

HART

(Class

A)

1,321,000

g,i

GS

Mortgage

Securities

Trust

3

.349

07/10/52

1,284,833‌

Series

-

2019

GC40

(Class

DBA)

9,000,000

g,i

GS

Mortgage

Securities

Trust

3

.501

07/10/52

8,747,909‌

Series

-

2019

GC40

(Class

DBB)

5,000,000

g,i

GS

Mortgage

Securities

Trust

3

.668

07/10/52

4,846,781‌

Series

-

2019

GC40

(Class

DBC)

3,233,735

g,i

GS

Mortgage-Backed

Securities

Corp

Trust

3

.000

03/27/51

2,698,876‌

Series

-

2020

PJ5

(Class

A4)

336,068

IMC

Home

Equity

Loan

Trust

(Step

Bond)

5

.432

08/20/29

310,895‌

Series

-

1998

3

(Class

A7)

67,886

i

Impac

CMB

Trust

LIBOR

1

M

+

0.660%

3

.744

03/25/35

64,352‌

Series

-

2004

11

(Class

2A1)

4,724,484

g,i

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

LIBOR

1

M

+

0.800%

3

.618

04/15/38

4,583,011‌

Series

-

2021

MHC

(Class

A)

2,000,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Corp

3

.372

12/15/47

1,982,146‌

Series

-

2013

C10

(Class

AS)

3,843,000

i

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

4

.212

01/15/46

3,748,462‌

Series

-

2013

C13

(Class

C)

1,435,429

g,i

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

5

.013

02/15/46

1,381,171‌

Series

-

2011

C3

(Class

B)

2,300,000

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2

.870

08/15/49

2,098,929‌

Series

-

2016

JP3

(Class

A5)

71,319

g,i

JP

Morgan

Mortgage

Trust

LIBOR

1

M

+

0.950%

4

.034

10/25/49

70,478‌

Series

-

2019

INV1

(Class

A11)

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

337

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

207,512

JPMBB

Commercial

Mortgage

Securities

Trust

3

.657

%

09/15/47

$

203,766‌

Series

-

2014

C23

(Class

ASB)

1,570,000

JPMBB

Commercial

Mortgage

Securities

Trust

4

.106

08/15/48

1,466,838‌

Series

-

2015

C31

(Class

AS)

1,200,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

4

.776

08/15/48

1,117,487‌

Series

-

2015

C31

(Class

B)

5,000,000

i

JPMBB

Commercial

Mortgage

Securities

Trust

4

.776

08/15/48

4,592,974‌

Series

-

2015

C31

(Class

C)

4,000,000

g,i

MHC

Commercial

Mortgage

Trust

LIBOR

1

M

+

0.801%

3

.619

04/15/38

3,856,500‌

Series

-

2021

MHC

(Class

A)

5,000,000

g,i

MHC

Commercial

Mortgage

Trust

LIBOR

1

M

+

1.101%

3

.919

04/15/38

4,785,096‌

Series

-

2021

MHC

(Class

B)

1,822,555

g

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

3

.989

12/15/46

1,720,245‌

Series

-

2014

C19

(Class

LNC1)

3,986,816

g,i

Morgan

Stanley

Capital

I

Inc

LIBOR

1

M

+

1.377%

4

.195

11/15/23

3,737,711‌

Series

-

2021

ILP

(Class

C)

2,500,000

g

MRCD

Mortgage

Trust

2

.718

12/15/36

2,215,323‌

Series

-

2019

PARK

(Class

D)

2,500,000

g

MRCD

Mortgage

Trust

2

.718

12/15/36

2,197,617‌

Series

-

2019

PARK

(Class

E)

7,530,000

g,i

MTN

Commercial

Mortgage

Trust

4

.741

03/15/39

7,276,866‌

Series

-

2022

LPFL

(Class

B)

9,500,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

1.500%

4

.318

07/15/36

9,353,931‌

Series

-

2019

MILE

(Class

A)

7,500,000

g,i

Natixis

Commercial

Mortgage

Securities

Trust

LIBOR

1

M

+

2.200%

5

.018

07/15/36

7,315,024‌

Series

-

2019

MILE

(Class

C)

351,744

g

Natixis

Commercial

Mortgage

Securities

Trust

2

.966

12/15/38

326,361‌

Series

-

2020

2PAC

(Class

A)

344,775

g,i

New

Residential

Mortgage

Loan

Trust

3

.750

11/25/54

322,714‌

Series

-

2014

3A

(Class

AFX3)

552,172

g,i

New

Residential

Mortgage

Loan

Trust

3

.750

03/25/56

515,993‌

Series

-

2016

1A

(Class

A1)

962,389

g,i

New

Residential

Mortgage

Loan

Trust

4

.000

12/25/57

918,810‌

Series

-

2018

1A

(Class

A1A)

549,609

g,i

New

Residential

Mortgage

Loan

Trust

4

.750

12/25/57

534,625‌

Series

-

2018

5A

(Class

A1)

814,851

g,i

OBX

Trust

LIBOR

1

M

+

0.650%

3

.734

06/25/57

791,750‌

Series

-

2018

1

(Class

A2)

4,797,619

g,i

OPG

Trust

LIBOR

1

M

+

0.713%

0

.803

10/15/36

4,502,669‌

Series

-

2021

PORT

(Class

B)

4,112,245

g,i

OPG

Trust

LIBOR

1

M

+

1.529%

4

.347

10/15/36

3,724,292‌

Series

-

2021

PORT

(Class

E)

2,000,000

g,i

PKHL

Commercial

Mortgage

Trust

LIBOR

1

M

+

2.000%

4

.818

07/15/38

1,870,330‌

Series

-

2021

MF

(Class

D)

2,000,000

g

RBS

Commercial

Funding,

Inc

Trust

3

.511

03/11/31

1,964,189‌

Series

-

2013

SMV

(Class

B)

7,886,000

g,i

RLGH

Trust

LIBOR

1

M

+

1.165%

3

.983

04/15/36

7,604,508‌

Series

-

2021

TROT

(Class

B)

3,858,362

g,i

SMR

Mortgage

Trust

5

.245

02/15/39

3,732,858‌

Series

-

2022

IND

(Class

B)

2,000,000

g,i

SREIT

Trust

LIBOR

1

M

+

1.171%

3

.989

11/15/36

1,909,031‌

Series

-

2021

MFP2

(Class

B)

834,380

i

Structured

Adjustable

Rate

Mortgage

Loan

Trust

LIBOR

1

M

+

0.370%

3

.454

07/25/34

821,066‌

Series

-

2004

9XS

(Class

A)

3,601,782

g

Verus

Securitization

Trust

2

.417

01/25/60

3,488,093‌

Series

-

2020

1

(Class

A1)

3,394,184

g

Verus

Securitization

Trust

2

.724

01/25/60

3,283,685‌

Series

-

2020

1

(Class

A3)

1,645,819

g

Verus

Securitization

Trust

2

.321

05/25/65

1,580,639‌

Series

-

2020

4

(Class

A3)

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

338

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

OTHER

MORTGAGE

BACKED—continued

$

8,389,197

g,i

Verus

Securitization

Trust

2

.240

%

10/25/66

$

6,931,691‌

Series

-

2021

7

(Class

A3)

1,000,000

i

WFRBS

3

.910

05/15/45

969,515‌

Series

-

2013

C13

(Class

C)

3,000,000

i

WFRBS

Commercial

Mortgage

Trust

4

.309

03/15/45

2,972,576‌

Series

-

2013

C11

(Class

C)

530,000

i

WFRBS

Commercial

Mortgage

Trust

4

.153

08/15/46

524,652‌

Series

-

2013

C15

(Class

A4)

2,500,000

i

WFRBS

Commercial

Mortgage

Trust

4

.204

11/15/47

2,284,907‌

Series

-

2014

C24

(Class

B)

TOTAL

OTHER

MORTGAGE

BACKED

264,804,884‌

TOTAL

STRUCTURED

ASSETS

418,124,829‌

(Cost

$451,718,264)

TOTAL

BONDS

1,750,617,894‌

(Cost

$1,857,828,484)

REFERENCERATE

&

SPREAD

SHORT-TERM

INVESTMENTS

-

6.4%

REPURCHASE

AGREEMENT

-

4

.3

%

$

80,270,000

r

Fixed

Income

Clearing

Corp

(FICC)

2

.950

10/03/22

80,270,000‌

TOTAL

REPURCHASE

AGREEMENT

80,270,000‌

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

2

.1

%

38,768,697

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3

.070

38,768,697‌

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

38,768,697‌

TOTAL

SHORT-TERM

INVESTMENTS

119,038,697‌

(Cost

$119,038,697)

TOTAL

INVESTMENTS

-

102.8%

1,907,770,330‌

(Cost

$2,015,862,863)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(2.8)%

(

52,639,393‌

)

NET

ASSETS

-

100.0%

$

1,855,130,937‌

LIBOR

London

Interbank

Offered

Rate

M

Month

REIT

Real

Estate

Investment

Trust

REMIC

Real

Estate

Mortgage

Investment

Conduit

SOFR

Secure

Overnight

Financing

Rate

†

Security

is

categorized

as

Level

3

in

the

fair

value

hierarchy.

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

d

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$37,623,329.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

h

All

or

a

portion

of

these

securities

were

purchased

on

a

delayed

delivery

basis.

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

k

Principal

amount

for

interest

accrual

purposes

is

periodically

adjusted

based

on

changes

in

the

Consumer

Price

Index.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.950%

dated

9/30/22

to

be

repurchased

at

$80,270,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

4.125%

and

maturity

date

9/30/27,

valued

at

$81,875,441.

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Fund

September

30,

2022

339

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

concluded

Futures

contracts

outstanding

as

of

September

30,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

US

10

Year

Note

(CBT)

(

275‌

)

12/20/22

 $

(

32,264,684‌

)

$

(

30,817,187‌

)

 $

1,447,497‌

US

10

Year

Ultra

(CBT)

(

170‌

)

12/20/22

(

21,321,336‌

)

(

20,142,344‌

)

1,178,992‌

US

Long

Bond

(CBT)

(

38‌

)

12/20/22

(

5,191,303‌

)

(

4,803,437‌

)

387,866‌

Total

(

483‌

)

  $

(

58,777,323‌

)

 $

(

55,762,968‌

)

$

3,014,355‌

Short-Term

Bond

Index

Fund

September

30,

2022

Portfolio

of

investments

(unaudited)

340

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BONDS

-

99.5%

CORPORATE

BONDS

-

23

.1

%

AUTOMOBILES

&

COMPONENTS

-

0

.1

%

$

400,000

Aptiv

plc

2

.396

%

02/18/25

$

373,260‌

200,000

General

Motors

Co

5

.400

10/02/23

200,020‌

1,000,000

Honda

Motor

Co

Ltd

2

.271

03/10/25

941,194‌

TOTAL

AUTOMOBILES

&

COMPONENTS

1,514,474‌

BANKS

-

6

.3

%

200,000

Banco

Bilbao

Vizcaya

Argentaria

S.A.

0

.875

09/18/23

192,170‌

200,000

Banco

Santander

S.A.

3

.892

05/24/24

194,678‌

600,000

Banco

Santander

S.A.

3

.496

03/24/25

571,501‌

1,000,000

Banco

Santander

S.A.

5

.147

08/18/25

970,285‌

500,000

e

Bank

of

America

Corp

1

.486

05/19/24

487,693‌

700,000

Bank

of

America

Corp

4

.200

08/26/24

688,526‌

1,250,000

Bank

of

America

Corp

0

.810

10/24/24

1,188,499‌

1,000,000

Bank

of

America

Corp

1

.843

02/04/25

950,336‌

1,000,000

Bank

of

America

Corp

3

.458

03/15/25

968,388‌

1,000,000

Bank

of

America

Corp

0

.976

04/22/25

929,471‌

500,000

Bank

of

America

Corp

3

.841

04/25/25

486,408‌

750,000

Bank

of

America

Corp

0

.981

09/25/25

682,375‌

1,000,000

Bank

of

America

Corp

2

.456

10/22/25

936,284‌

2,500,000

Bank

of

America

Corp

1

.530

12/06/25

2,286,762‌

500,000

Bank

of

America

Corp

3

.384

04/02/26

472,308‌

1,500,000

Bank

of

America

Corp

4

.827

07/22/26

1,466,541‌

1,000,000

Bank

of

Montreal

0

.625

07/09/24

925,870‌

1,000,000

Bank

of

Montreal

4

.338

10/05/28

986,261‌

500,000

Bank

of

Nova

Scotia

0

.700

04/15/24

468,281‌

750,000

Bank

of

Nova

Scotia

3

.450

04/11/25

718,352‌

200,000

Bank

of

Nova

Scotia

4

.650

N/A‡

171,421‌

1,000,000

Barclays

plc

4

.375

09/11/24

967,983‌

500,000

Barclays

plc

1

.007

12/10/24

470,628‌

750,000

Barclays

plc

3

.650

03/16/25

709,560‌

200,000

Barclays

plc

2

.852

05/07/26

181,552‌

750,000

Barclays

plc

5

.304

08/09/26

720,541‌

1,000,000

BBVA

USA

3

.875

04/10/25

968,289‌

750,000

Canadian

Imperial

Bank

of

Commerce

1

.000

10/18/24

692,505‌

1,250,000

Citigroup,

Inc

1

.678

05/15/24

1,223,180‌

1,000,000

Citigroup,

Inc

4

.000

08/05/24

977,981‌

1,000,000

Citigroup,

Inc

0

.981

05/01/25

926,541‌

1,000,000

Citigroup,

Inc

4

.140

05/24/25

977,472‌

600,000

Citigroup,

Inc

1

.281

11/03/25

548,093‌

1,500,000

Citigroup,

Inc

2

.014

01/25/26

1,378,405‌

750,000

Citigroup,

Inc

3

.290

03/17/26

708,085‌

600,000

Citigroup,

Inc

3

.106

04/08/26

562,361‌

1,000,000

Citigroup,

Inc

5

.610

09/29/26

994,483‌

250,000

Citizens

Bank

NA

4

.119

05/23/25

245,161‌

300,000

Cooperatieve

Rabobank

UA

3

.875

08/22/24

293,840‌

300,000

Discover

Bank

2

.450

09/12/24

283,751‌

250,000

Discover

Bank

4

.682

08/09/28

239,727‌

1,000,000

Fifth

Third

Bancorp

3

.650

01/25/24

981,366‌

250,000

First

Republic

Bank

1

.912

02/12/24

246,793‌

750,000

FNB

Corp

5

.150

08/25/25

739,777‌

380,000

HSBC

Holdings

plc

3

.033

11/22/23

378,526‌

500,000

HSBC

Holdings

plc

4

.250

03/14/24

489,429‌

800,000

HSBC

Holdings

plc

3

.950

05/18/24

789,772‌

800,000

HSBC

Holdings

plc

0

.732

08/17/24

762,681‌

1,000,000

HSBC

Holdings

plc

1

.162

11/22/24

944,969‌

650,000

HSBC

Holdings

plc

0

.976

05/24/25

597,189‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

341

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

250,000

HSBC

Holdings

plc

4

.180

%

12/09/25

$

239,159‌

1,000,000

HSBC

Holdings

plc

2

.999

03/10/26

924,608‌

500,000

HSBC

Holdings

plc

1

.645

04/18/26

444,632‌

750,000

HSBC

USA,

Inc

3

.750

05/24/24

735,088‌

1,000,000

Huntington

National

Bank

4

.008

05/16/25

979,347‌

300,000

Industrial

&

Commercial

Bank

of

China

Ltd

2

.957

11/08/22

299,526‌

400,000

ING

Groep

NV

4

.100

10/02/23

395,004‌

1,000,000

JPMorgan

Chase

&

Co

0

.697

03/16/24

978,896‌

1,000,000

JPMorgan

Chase

&

Co

3

.559

04/23/24

989,790‌

500,000

JPMorgan

Chase

&

Co

1

.514

06/01/24

488,137‌

700,000

JPMorgan

Chase

&

Co

3

.797

07/23/24

690,431‌

750,000

JPMorgan

Chase

&

Co

3

.875

09/10/24

733,458‌

500,000

JPMorgan

Chase

&

Co

0

.653

09/16/24

476,854‌

750,000

JPMorgan

Chase

&

Co

4

.023

12/05/24

737,974‌

300,000

JPMorgan

Chase

&

Co

0

.563

02/16/25

280,497‌

1,000,000

JPMorgan

Chase

&

Co

0

.824

06/01/25

925,766‌

250,000

JPMorgan

Chase

&

Co

3

.845

06/14/25

243,148‌

1,000,000

JPMorgan

Chase

&

Co

0

.969

06/23/25

924,977‌

500,000

JPMorgan

Chase

&

Co

0

.768

08/09/25

458,369‌

500,000

JPMorgan

Chase

&

Co

2

.301

10/15/25

468,887‌

1,500,000

JPMorgan

Chase

&

Co

1

.561

12/10/25

1,375,473‌

1,000,000

JPMorgan

Chase

&

Co

2

.595

02/24/26

930,279‌

750,000

JPMorgan

Chase

&

Co

2

.083

04/22/26

683,316‌

1,000,000

JPMorgan

Chase

&

Co

4

.080

04/26/26

962,812‌

750,000

KeyBank

NA

4

.150

08/08/25

726,970‌

250,000

KeyCorp

3

.878

05/23/25

243,418‌

300,000

Lloyds

Banking

Group

plc

2

.907

11/07/23

299,300‌

1,000,000

Lloyds

Banking

Group

plc

3

.511

03/18/26

936,160‌

1,000,000

Lloyds

Banking

Group

plc

4

.716

08/11/26

960,715‌

600,000

Mitsubishi

UFJ

Financial

Group,

Inc

2

.193

02/25/25

556,577‌

300,000

Mitsubishi

UFJ

Financial

Group,

Inc

1

.412

07/17/25

268,932‌

1,500,000

Mitsubishi

UFJ

Financial

Group,

Inc

0

.953

07/19/25

1,380,143‌

750,000

Mitsubishi

UFJ

Financial

Group,

Inc

5

.063

09/12/25

742,114‌

750,000

e

Mitsubishi

UFJ

Financial

Group,

Inc

3

.837

04/17/26

717,844‌

1,000,000

e

Mizuho

Financial

Group,

Inc

2

.651

05/22/26

919,445‌

1,000,000

e

National

Australia

Bank

Ltd

3

.500

06/09/25

964,122‌

500,000

National

Bank

of

Canada

3

.750

06/09/25

485,370‌

500,000

PNC

Financial

Services

Group,

Inc

3

.500

01/23/24

492,052‌

500,000

Royal

Bank

of

Canada

3

.970

07/26/24

491,140‌

500,000

Royal

Bank

of

Canada

0

.750

10/07/24

459,017‌

1,000,000

Royal

Bank

of

Canada

1

.600

01/21/25

925,983‌

1,000,000

Royal

Bank

of

Canada

3

.375

04/14/25

962,240‌

500,000

Royal

Bank

of

Scotland

Group

plc

4

.269

03/22/25

486,126‌

500,000

Santander

Holdings

USA,

Inc

3

.450

06/02/25

468,037‌

250,000

Santander

Holdings

USA,

Inc

4

.260

06/09/25

241,218‌

425,000

Santander

Holdings

USA,

Inc

5

.807

09/09/26

415,390‌

150,000

Santander

Holdings

USA,

Inc

3

.244

10/05/26

134,225‌

1,000,000

Santander

UK

Group

Holdings

plc

1

.089

03/15/25

923,277‌

1,000,000

Sumitomo

Mitsui

Financial

Group,

Inc

0

.508

01/12/24

942,021‌

300,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.696

07/16/24

286,678‌

500,000

Sumitomo

Mitsui

Financial

Group,

Inc

2

.448

09/27/24

472,529‌

750,000

Sumitomo

Mitsui

Financial

Group,

Inc

1

.474

07/08/25

674,744‌

500,000

Synchrony

Bank

5

.400

08/22/25

487,518‌

500,000

Synovus

Financial

Corp

5

.200

08/11/25

490,517‌

1,000,000

Toronto-Dominion

Bank

0

.700

09/10/24

921,019‌

500,000

Toronto-Dominion

Bank

4

.285

09/13/24

492,460‌

500,000

Toronto-Dominion

Bank

1

.250

12/13/24

461,313‌

1,000,000

Truist

Bank

2

.636

09/17/29

931,728‌

750,000

Truist

Financial

Corp

3

.750

12/06/23

742,932‌

1,250,000

Truist

Financial

Corp

4

.260

07/28/26

1,215,682‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

342

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANKS—continued

$

1,000,000

US

Bancorp

2

.400

%

07/30/24

$

959,263‌

500,000

US

Bancorp

1

.450

05/12/25

458,978‌

1,250,000

Wells

Fargo

&

Co

4

.480

01/16/24

1,242,982‌

1,000,000

Wells

Fargo

&

Co

0

.805

05/19/25

925,137‌

500,000

Wells

Fargo

&

Co

2

.406

10/30/25

466,769‌

1,000,000

Wells

Fargo

&

Co

2

.164

02/11/26

920,709‌

1,000,000

Wells

Fargo

&

Co

3

.908

04/25/26

955,968‌

1,000,000

Wells

Fargo

&

Co

2

.188

04/30/26

913,272‌

650,000

Wells

Fargo

&

Co

4

.540

08/15/26

628,814‌

1,000,000

Westpac

Banking

Corp

1

.019

11/18/24

926,846‌

750,000

e

Westpac

Banking

Corp

3

.735

08/26/25

726,861‌

TOTAL

BANKS

85,554,033‌

CAPITAL

GOODS

-

1

.2

%

500,000

3M

Co

2

.650

04/15/25

470,946‌

750,000

Air

Lease

Corp

0

.700

02/15/24

700,705‌

1,000,000

Air

Lease

Corp

0

.800

08/18/24

910,890‌

500,000

Boeing

Co

1

.950

02/01/24

479,717‌

1,250,000

Boeing

Co

1

.433

02/04/24

1,187,447‌

500,000

Boeing

Co

4

.875

05/01/25

487,854‌

1,000,000

Caterpillar

Financial

Services

Corp

0

.450

05/17/24

935,321‌

750,000

Caterpillar

Financial

Services

Corp

0

.600

09/13/24

694,315‌

1,000,000

Caterpillar

Financial

Services

Corp

3

.400

05/13/25

966,362‌

500,000

Caterpillar

Financial

Services

Corp

3

.650

08/12/25

485,953‌

750,000

CNH

Industrial

Capital

LLC

3

.950

05/23/25

723,293‌

300,000

Fortune

Brands

Home

&

Security,

Inc

4

.000

06/15/25

288,476‌

500,000

Honeywell

International,

Inc

1

.350

06/01/25

460,189‌

1,000,000

John

Deere

Capital

Corp

0

.450

06/07/24

932,712‌

500,000

John

Deere

Capital

Corp

0

.625

09/10/24

464,414‌

500,000

John

Deere

Capital

Corp

1

.250

01/10/25

464,001‌

750,000

John

Deere

Capital

Corp

2

.125

03/07/25

705,733‌

500,000

John

Deere

Capital

Corp

3

.400

06/06/25

483,235‌

750,000

John

Deere

Capital

Corp

4

.050

09/08/25

737,853‌

300,000

Lennox

International,

Inc

3

.000

11/15/23

293,377‌

300,000

Otis

Worldwide

Corp

2

.056

04/05/25

277,502‌

250,000

Parker-Hannifin

Corp

3

.650

06/15/24

244,507‌

750,000

Quanta

Services,

Inc

0

.950

10/01/24

684,794‌

1,000,000

Stanley

Black

&

Decker,

Inc

2

.300

02/24/25

943,442‌

500,000

United

Technologies

Corp

3

.950

08/16/25

487,926‌

200,000

Wabtec

Corp

4

.400

03/15/24

196,234‌

200,000

Westinghouse

Air

Brake

Technologies

Corp

3

.200

06/15/25

186,430‌

TOTAL

CAPITAL

GOODS

15,893,628‌

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

0

.1

%

100,000

Leidos,

Inc

2

.950

05/15/23

98,782‌

200,000

Leidos,

Inc

3

.625

05/15/25

191,672‌

200,000

RELX

Capital,

Inc

3

.500

03/16/23

198,717‌

164,000

Republic

Services,

Inc

4

.750

05/15/23

163,757‌

300,000

Republic

Services,

Inc

2

.500

08/15/24

286,427‌

300,000

Verisk

Analytics,

Inc

4

.000

06/15/25

290,411‌

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

1,229,766‌

CONSUMER

DURABLES

&

APPAREL

-

0

.1

%

250,000

Brunswick

Corp

0

.850

08/18/24

230,214‌

500,000

Lennar

Corp

4

.875

12/15/23

498,035‌

200,000

PVH

Corp

4

.625

07/10/25

191,741‌

300,000

VF

Corp

2

.400

04/23/25

280,300‌

200,000

Whirlpool

Corp

3

.700

05/01/25

194,048‌

TOTAL

CONSUMER

DURABLES

&

APPAREL

1,394,338‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

343

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CONSUMER

SERVICES

-

0

.2

%

$

1,250,000

Cintas

Corp

No

2

3

.450

%

05/01/25

$

1,206,833‌

500,000

CommonSpirit

Health

2

.760

10/01/24

475,745‌

100,000

Hyatt

Hotels

Corp

1

.300

10/01/23

96,188‌

250,000

Hyatt

Hotels

Corp

1

.800

10/01/24

234,384‌

500,000

Marriott

International,

Inc

3

.600

04/15/24

488,191‌

500,000

McDonald's

Corp

3

.300

07/01/25

480,805‌

TOTAL

CONSUMER

SERVICES

2,982,146‌

DIVERSIFIED

FINANCIALS

-

4

.8

%

250,000

AerCap

Ireland

Capital

DAC

4

.500

09/15/23

246,400‌

1,000,000

AerCap

Ireland

Capital

DAC

1

.150

10/29/23

949,930‌

500,000

AerCap

Ireland

Capital

DAC

3

.150

02/15/24

480,203‌

300,000

AerCap

Ireland

Capital

DAC

2

.875

08/14/24

282,125‌

500,000

AerCap

Ireland

Capital

DAC

1

.650

10/29/24

456,793‌

500,000

AerCap

Ireland

Capital

DAC

1

.750

10/29/24

454,851‌

300,000

AerCap

Ireland

Capital

DAC

6

.500

07/15/25

299,459‌

800,000

Ally

Financial,

Inc

1

.450

10/02/23

772,263‌

550,000

American

Express

Co

3

.375

05/03/24

536,297‌

1,500,000

American

Express

Co

2

.250

03/04/25

1,405,785‌

750,000

American

Express

Co

3

.950

08/01/25

726,418‌

750,000

American

Honda

Finance

Corp

0

.550

07/12/24

696,271‌

1,000,000

American

Honda

Finance

Corp

0

.750

08/09/24

929,372‌

500,000

American

Honda

Finance

Corp

1

.500

01/13/25

464,147‌

300,000

Ares

Capital

Corp

3

.500

02/10/23

298,464‌

600,000

Ares

Capital

Corp

3

.250

07/15/25

548,053‌

600,000

Banco

Bilbao

Vizcaya

Argentaria

S.A.

5

.862

09/14/26

585,300‌

750,000

Bank

of

Montreal

4

.250

09/14/24

737,828‌

500,000

Bank

of

Montreal

1

.500

01/10/25

459,894‌

250,000

Bank

of

Montreal

3

.700

06/07/25

240,271‌

750,000

e

Bank

of

New

York

Mellon

Corp

0

.850

10/25/24

692,596‌

500,000

Bank

of

New

York

Mellon

Corp

3

.350

04/25/25

482,917‌

550,000

Bank

of

New

York

Mellon

Corp

4

.414

07/24/26

537,362‌

1,000,000

Bank

of

Nova

Scotia

0

.650

07/31/24

923,504‌

500,000

Bank

of

Nova

Scotia

1

.450

01/10/25

459,592‌

250,000

Blackstone

Secured

Lending

Fund

3

.650

07/14/23

247,191‌

1,000,000

Canadian

Imperial

Bank

of

Commerce

3

.300

04/07/25

954,249‌

750,000

Capital

One

Financial

Corp

3

.300

10/30/24

722,514‌

500,000

Capital

One

Financial

Corp

4

.166

05/09/25

486,344‌

1,000,000

Capital

One

Financial

Corp

2

.636

03/03/26

929,152‌

500,000

Capital

One

Financial

Corp

4

.985

07/24/26

488,825‌

200,000

Celanese

US

Holdings

LLC

3

.500

05/08/24

191,137‌

500,000

Celanese

US

Holdings

LLC

5

.900

07/05/24

493,070‌

750,000

Celanese

US

Holdings

LLC

6

.050

03/15/25

732,635‌

1,000,000

Charles

Schwab

Corp

0

.750

03/18/24

945,481‌

1,000,000

Cooperatieve

Rabobank

UA

1

.375

01/10/25

920,311‌

750,000

Credit

Suisse

AG.

0

.495

02/02/24

698,559‌

1,000,000

Credit

Suisse

AG.

4

.750

08/09/24

975,655‌

500,000

Credit

Suisse

AG.

3

.700

02/21/25

469,318‌

750,000

Credit

Suisse

AG.

2

.950

04/09/25

689,783‌

1,000,000

Credit

Suisse

Group

Funding

Guernsey

Ltd

3

.750

03/26/25

931,553‌

300,000

Deutsche

Bank

AG.

2

.222

09/18/24

285,728‌

1,000,000

Deutsche

Bank

AG.

1

.447

04/01/25

920,013‌

500,000

Deutsche

Bank

AG.

4

.162

05/13/25

481,396‌

750,000

Deutsche

Bank

AG.

6

.119

07/14/26

728,384‌

200,000

Franklin

Resources,

Inc

2

.850

03/30/25

190,959‌

500,000

FS

KKR

Capital

Corp

1

.650

10/12/24

456,660‌

1,000,000

General

Motors

Financial

Co,

Inc

1

.050

03/08/24

937,163‌

400,000

General

Motors

Financial

Co,

Inc

1

.200

10/15/24

367,168‌

1,000,000

General

Motors

Financial

Co,

Inc

2

.900

02/26/25

934,308‌

750,000

General

Motors

Financial

Co,

Inc

3

.800

04/07/25

714,387‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

344

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DIVERSIFIED

FINANCIALS—continued

$

1,000,000

Goldman

Sachs

Group,

Inc

1

.217

%

12/06/23

$

958,766‌

750,000

Goldman

Sachs

Group,

Inc

0

.673

03/08/24

733,213‌

750,000

Goldman

Sachs

Group,

Inc

3

.000

03/15/24

728,757‌

1,000,000

Goldman

Sachs

Group,

Inc

0

.657

09/10/24

951,904‌

500,000

Goldman

Sachs

Group,

Inc

0

.925

10/21/24

474,575‌

1,000,000

Goldman

Sachs

Group,

Inc

1

.757

01/24/25

950,142‌

1,000,000

Goldman

Sachs

Group,

Inc

3

.500

04/01/25

955,203‌

500,000

Goldman

Sachs

Group,

Inc

3

.750

05/22/25

478,760‌

1,000,000

Goldman

Sachs

Group,

Inc

3

.272

09/29/25

952,539‌

500,000

ING

Groep

NV

3

.869

03/28/26

474,016‌

1,500,000

Intercontinental

Exchange,

Inc

3

.650

05/23/25

1,451,412‌

750,000

J

Paul

Getty

Trust

0

.391

01/01/24

713,077‌

500,000

Morgan

Stanley

0

.731

04/05/24

487,930‌

1,500,000

Morgan

Stanley

0

.791

01/22/25

1,405,136‌

750,000

Morgan

Stanley

3

.620

04/17/25

728,373‌

1,000,000

Morgan

Stanley

0

.790

05/30/25

920,402‌

2,250,000

Morgan

Stanley

1

.164

10/21/25

2,050,610‌

1,000,000

Morgan

Stanley

2

.630

02/18/26

931,682‌

1,000,000

Morgan

Stanley

4

.679

07/17/26

973,723‌

500,000

National

Rural

Utilities

Cooperative

Finance

Corp

1

.000

10/18/24

462,016‌

500,000

National

Rural

Utilities

Cooperative

Finance

Corp

1

.875

02/07/25

467,972‌

500,000

National

Rural

Utilities

Cooperative

Finance

Corp

3

.450

06/15/25

482,368‌

750,000

Nomura

Holdings,

Inc

5

.099

07/03/25

737,993‌

300,000

Nomura

Holdings,

Inc

1

.851

07/16/25

270,672‌

750,000

Oesterreichische

Kontrollbank

AG.

0

.500

09/16/24

696,386‌

1,000,000

Oesterreichische

Kontrollbank

AG.

2

.875

05/23/25

960,320‌

500,000

Owl

Rock

Capital

Corp

3

.750

07/22/25

459,111‌

500,000

OWL

Rock

Core

Income

Corp

5

.500

03/21/25

470,402‌

250,000

PACCAR

Financial

Corp

3

.150

06/13/24

243,905‌

300,000

PACCAR

Financial

Corp

0

.500

08/09/24

278,048‌

750,000

PACCAR

Financial

Corp

0

.900

11/08/24

691,743‌

300,000

PACCAR

Financial

Corp

2

.850

04/07/25

286,809‌

500,000

PACCAR

Financial

Corp

3

.550

08/11/25

485,413‌

300,000

PACCAR

Financial

Corp

4

.950

10/03/25

300,987‌

160,000

Shire

Acquisitions

Investments

Ireland

DAC

2

.875

09/23/23

156,474‌

1,500,000

State

Street

Corp

1

.746

02/06/26

1,396,320‌

500,000

Synchrony

Financial

4

.375

03/19/24

491,034‌

500,000

Synchrony

Financial

4

.875

06/13/25

482,351‌

500,000

Toronto-Dominion

Bank

1

.450

01/10/25

462,892‌

750,000

Toronto-Dominion

Bank

3

.766

06/06/25

724,671‌

1,000,000

Toyota

Motor

Credit

Corp

0

.500

06/18/24

931,764‌

750,000

Toyota

Motor

Credit

Corp

0

.625

09/13/24

693,653‌

750,000

Toyota

Motor

Credit

Corp

4

.400

09/20/24

745,257‌

500,000

Toyota

Motor

Credit

Corp

1

.450

01/13/25

463,588‌

1,250,000

Toyota

Motor

Credit

Corp

3

.950

06/30/25

1,220,074‌

300,000

Toyota

Motor

Credit

Corp

3

.650

08/18/25

290,479‌

300,000

Unilever

Capital

Corp

0

.375

09/14/23

288,318‌

TOTAL

DIVERSIFIED

FINANCIALS

64,519,278‌

ENERGY

-

1

.3

%

1,000,000

Baker

Hughes

Holdings

LLC

1

.231

12/15/23

958,696‌

200,000

Canadian

Natural

Resources

Ltd

3

.800

04/15/24

195,488‌

750,000

ConocoPhillips

Co

2

.125

03/08/24

724,060‌

750,000

ConocoPhillips

Co

2

.400

03/07/25

709,382‌

200,000

Enable

Midstream

Partners

LP

3

.900

05/15/24

194,991‌

500,000

Enbridge,

Inc

0

.550

10/04/23

478,028‌

725,000

Enbridge,

Inc

2

.500

02/14/25

680,950‌

800,000

Energy

Transfer

Operating

LP

4

.250

03/15/23

797,869‌

200,000

Energy

Transfer

Operating

LP

4

.200

09/15/23

197,848‌

500,000

Energy

Transfer

Operating

LP

5

.875

01/15/24

501,020‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

345

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ENERGY—continued

$

200,000

Energy

Transfer

Operating

LP

4

.500

%

04/15/24

$

196,849‌

500,000

Energy

Transfer

Operating

LP

2

.900

05/15/25

466,048‌

500,000

EQT

Corp

6

.125

02/01/25

500,640‌

750,000

h

EQT

Corp

5

.678

10/01/25

745,384‌

1,000,000

Equinor

ASA

3

.700

03/01/24

985,405‌

600,000

Exxon

Mobil

Corp

2

.709

03/06/25

573,215‌

200,000

g

HF

Sinclair

Corp

2

.625

10/01/23

193,565‌

750,000

Kinder

Morgan

Energy

Partners

LP

4

.250

09/01/24

737,457‌

300,000

Kinder

Morgan,

Inc

4

.300

06/01/25

292,525‌

750,000

MPLX

LP

4

.000

02/15/25

723,670‌

500,000

ONEOK,

Inc

2

.750

09/01/24

475,117‌

325,000

Phillips

66

0

.900

02/15/24

307,740‌

300,000

Plains

All

American

Pipeline

LP

3

.850

10/15/23

295,696‌

500,000

Sabine

Pass

Liquefaction

LLC

5

.750

05/15/24

501,831‌

750,000

Sabine

Pass

Liquefaction

LLC

5

.625

03/01/25

749,259‌

400,000

Schlumberger

Investment

S.A.

3

.650

12/01/23

393,752‌

500,000

Shell

International

Finance

BV

0

.375

09/15/23

480,210‌

1,000,000

Shell

International

Finance

BV

3

.250

05/11/25

960,416‌

500,000

Spectra

Energy

Partners

LP

4

.750

03/15/24

497,206‌

500,000

Total

Capital

International

S.A.

3

.700

01/15/24

493,520‌

250,000

TransCanada

PipeLines

Ltd

3

.750

10/16/23

247,043‌

750,000

TransCanada

PipeLines

Ltd

1

.000

10/12/24

691,125‌

750,000

Williams

Cos,

Inc

4

.550

06/24/24

742,599‌

300,000

Williams

Partners

LP

4

.500

11/15/23

298,354‌

TOTAL

ENERGY

17,986,958‌

FOOD

&

STAPLES

RETAILING

-

0

.0

%

750,000

Walmart,

Inc

3

.900

09/09/25

736,877‌

TOTAL

FOOD

&

STAPLES

RETAILING

736,877‌

FOOD,

BEVERAGE

&

TOBACCO

-

0

.7

%

600,000

Altria

Group,

Inc

2

.350

05/06/25

555,712‌

600,000

BAT

Capital

Corp

3

.222

08/15/24

577,354‌

500,000

BAT

Capital

Corp

2

.789

09/06/24

475,346‌

250,000

ConAgra

Brands,

Inc

0

.500

08/11/23

240,825‌

1,000,000

Constellation

Brands,

Inc

3

.600

05/09/24

978,267‌

500,000

Constellation

Brands,

Inc

4

.750

11/15/24

498,093‌

500,000

Diageo

Capital

plc

2

.125

10/24/24

474,734‌

300,000

General

Mills,

Inc

4

.000

04/17/25

292,834‌

1,000,000

Hormel

Foods

Corp

0

.650

06/03/24

935,074‌

300,000

JM

Smucker

Co

3

.500

03/15/25

288,897‌

1,000,000

Keurig

Dr

Pepper,

Inc

0

.750

03/15/24

941,967‌

700,000

Mondelez

International,

Inc

2

.125

03/17/24

672,172‌

500,000

PepsiCo,

Inc

0

.400

10/07/23

481,120‌

1,000,000

PepsiCo,

Inc

2

.750

04/30/25

955,360‌

750,000

Philip

Morris

International,

Inc

1

.500

05/01/25

687,215‌

200,000

Reynolds

American,

Inc

4

.850

09/15/23

199,420‌

500,000

Reynolds

American,

Inc

4

.450

06/12/25

483,058‌

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

9,737,448‌

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0

.7

%

500,000

Abbott

Laboratories

3

.400

11/30/23

493,835‌

500,000

AmerisourceBergen

Corp

3

.400

05/15/24

489,307‌

750,000

Baxter

International,

Inc

0

.868

12/01/23

716,561‌

750,000

Baxter

International,

Inc

1

.322

11/29/24

692,374‌

300,000

Boston

Scientific

Corp

1

.900

06/01/25

275,722‌

200,000

Cigna

Corp

0

.613

03/15/24

188,279‌

400,000

Cigna

Corp

3

.250

04/15/25

381,975‌

500,000

CVS

Health

Corp

2

.625

08/15/24

479,643‌

300,000

CVS

Health

Corp

4

.100

03/25/25

293,517‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

346

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

$

750,000

CVS

Health

Corp

3

.875

%

07/20/25

$

727,395‌

1,000,000

Elevance

Health,

Inc

3

.500

08/15/24

978,058‌

1,000,000

HCA,

Inc

5

.000

03/15/24

993,454‌

750,000

Laboratory

Corp

of

America

Holdings

3

.600

02/01/25

723,703‌

300,000

Quest

Diagnostics,

Inc

3

.500

03/30/25

288,414‌

500,000

Stryker

Corp

1

.150

06/15/25

451,008‌

1,500,000

UnitedHealth

Group,

Inc

0

.550

05/15/24

1,406,762‌

575,000

Zimmer

Biomet

Holdings,

Inc

1

.450

11/22/24

531,684‌

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

10,111,691‌

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

0

.1

%

1,000,000

Colgate-Palmolive

Co

3

.100

08/15/25

965,898‌

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

965,898‌

INSURANCE

-

0

.3

%

200,000

Allstate

Corp

5

.750

08/15/53

184,104‌

700,000

American

International

Group,

Inc

2

.500

06/30/25

653,105‌

300,000

Brown

&

Brown,

Inc

4

.200

09/15/24

294,016‌

500,000

g

Corebridge

Financial,

Inc

3

.500

04/04/25

474,970‌

1,000,000

Jackson

Financial,

Inc

1

.125

11/22/23

956,000‌

500,000

Marsh

&

McLennan

Cos,

Inc

3

.500

03/10/25

482,463‌

1,000,000

MetLife,

Inc

3

.000

03/01/25

965,845‌

500,000

Prudential

Financial,

Inc

5

.625

06/15/43

492,630‌

TOTAL

INSURANCE

4,503,133‌

MATERIALS

-

0

.6

%

1,500,000

Amcor

Flexibles

North

America,

Inc

4

.000

05/17/25

1,448,029‌

750,000

Avery

Dennison

Corp

0

.850

08/15/24

694,115‌

325,000

Berry

Global,

Inc

0

.950

02/15/24

305,342‌

200,000

Celulosa

Arauco

y

Constitucion

S.A.

4

.500

08/01/24

194,852‌

1,000,000

Ecolab,

Inc

0

.900

12/15/23

957,533‌

200,000

EI

du

Pont

de

Nemours

and

Co

1

.700

07/15/25

183,869‌

285,000

LyondellBasell

Industries

NV

5

.750

04/15/24

287,261‌

300,000

Mosaic

Co

4

.250

11/15/23

297,544‌

250,000

Nucor

Corp

3

.950

05/23/25

242,284‌

200,000

Nucor

Corp

2

.000

06/01/25

184,600‌

300,000

Nutrien

Ltd

1

.900

05/13/23

294,503‌

300,000

PPG

Industries,

Inc

2

.400

08/15/24

288,152‌

500,000

Sherwin-Williams

Co

4

.050

08/08/24

491,675‌

500,000

Sherwin-Williams

Co

4

.250

08/08/25

488,030‌

1,000,000

Sonoco

Products

Co

1

.800

02/01/25

926,438‌

200,000

Steel

Dynamics,

Inc

2

.400

06/15/25

184,905‌

200,000

Westlake

Chemical

Corp

0

.875

08/15/24

186,542‌

TOTAL

MATERIALS

7,655,674‌

MEDIA

&

ENTERTAINMENT

-

0

.8

%

750,000

AstraZeneca

Finance

LLC

0

.700

05/28/24

702,507‌

200,000

e

Baidu,

Inc

3

.500

11/28/22

199,686‌

300,000

Baidu,

Inc

3

.875

09/29/23

294,825‌

500,000

Blackstone

Private

Credit

Fund

1

.750

09/15/24

455,638‌

750,000

Blackstone

Private

Credit

Fund

2

.350

11/22/24

684,259‌

500,000

Blackstone

Private

Credit

Fund

2

.700

01/15/25

453,223‌

500,000

Blackstone

Private

Credit

Fund

4

.700

03/24/25

473,213‌

250,000

g

Blackstone

Private

Credit

Fund

7

.050

09/29/25

246,874‌

750,000

Charter

Communications

Operating

LLC

4

.500

02/01/24

741,300‌

750,000

Charter

Communications

Operating

LLC

4

.908

07/23/25

731,369‌

1,000,000

Comcast

Corp

3

.700

04/15/24

983,490‌

750,000

Fox

Corp

4

.030

01/25/24

740,725‌

500,000

g

GSK

Consumer

Healthcare

Capital

US

LLC

3

.024

03/24/24

483,690‌

750,000

g

Magallanes,

Inc

3

.428

03/15/24

724,651‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

347

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MEDIA

&

ENTERTAINMENT—continued

$

525,000

g

Magallanes,

Inc

3

.638

%

03/15/25

$

497,186‌

500,000

e,g

Magallanes,

Inc

3

.788

03/15/25

472,020‌

200,000

e

Paramount

Global

4

.750

05/15/25

196,627‌

750,000

Take-Two

Interactive

Software,

Inc

3

.300

03/28/24

731,005‌

750,000

Take-Two

Interactive

Software,

Inc

3

.550

04/14/25

719,616‌

200,000

Time

Warner

Entertainment

Co

LP

8

.375

03/15/23

202,778‌

500,000

Walt

Disney

Co

1

.750

08/30/24

472,878‌

TOTAL

MEDIA

&

ENTERTAINMENT

11,207,560‌

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

0

.8

%

300,000

e

AbbVie,

Inc

3

.750

11/14/23

296,628‌

750,000

AbbVie,

Inc

3

.850

06/15/24

736,297‌

1,500,000

AbbVie,

Inc

3

.800

03/15/25

1,452,756‌

500,000

AbbVie,

Inc

3

.600

05/14/25

479,935‌

750,000

Amgen,

Inc

1

.900

02/21/25

699,233‌

500,000

Baxalta,

Inc

4

.000

06/23/25

485,088‌

500,000

Bristol-Myers

Squibb

Co

2

.900

07/26/24

484,924‌

206,000

Gilead

Sciences,

Inc

0

.750

09/29/23

197,713‌

750,000

Gilead

Sciences,

Inc

3

.700

04/01/24

738,229‌

500,000

Gilead

Sciences,

Inc

3

.500

02/01/25

482,268‌

375,000

GlaxoSmithKline

Capital

plc

0

.534

10/01/23

359,871‌

1,000,000

Merck

&

Co,

Inc

2

.750

02/10/25

958,670‌

750,000

PerkinElmer,

Inc

0

.850

09/15/24

695,492‌

500,000

Pfizer,

Inc

3

.400

05/15/24

491,053‌

500,000

Royalty

Pharma

plc

0

.750

09/02/23

478,790‌

300,000

Takeda

Pharmaceutical

Co

Ltd

4

.400

11/26/23

298,062‌

750,000

e

Thermo

Fisher

Scientific,

Inc

1

.215

10/18/24

697,472‌

300,000

Viatris,

Inc

1

.650

06/22/25

266,697‌

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

10,299,178‌

REAL

ESTATE

-

0

.7

%

200,000

Alexandria

Real

Estate

Equities,

Inc

3

.450

04/30/25

191,718‌

750,000

American

Tower

Corp

0

.600

01/15/24

707,430‌

200,000

American

Tower

Corp

4

.000

06/01/25

192,628‌

300,000

AvalonBay

Communities,

Inc

3

.450

06/01/25

289,070‌

500,000

Boston

Properties

LP

3

.200

01/15/25

477,621‌

500,000

Crown

Castle

International

Corp

3

.200

09/01/24

483,734‌

400,000

Equinix,

Inc

1

.250

07/15/25

357,733‌

200,000

ERP

Operating

LP

3

.375

06/01/25

190,149‌

750,000

Essex

Portfolio

LP

3

.500

04/01/25

719,311‌

500,000

GLP

Capital

LP

3

.350

09/01/24

474,011‌

200,000

Host

Hotels

&

Resorts

LP

4

.000

06/15/25

189,922‌

42,000

Omega

Healthcare

Investors,

Inc

4

.375

08/01/23

41,804‌

500,000

Omega

Healthcare

Investors,

Inc

4

.500

01/15/25

487,247‌

500,000

Realty

Income

Corp

3

.875

04/15/25

486,243‌

500,000

Simon

Property

Group

LP

2

.000

09/13/24

472,208‌

500,000

Simon

Property

Group

LP

3

.375

10/01/24

485,125‌

200,000

SL

Green

Operating

Partnership

LP

3

.250

10/15/22

199,920‌

500,000

Ventas

Realty

LP

2

.650

01/15/25

470,235‌

1,500,000

VICI

Properties

LP

4

.375

05/15/25

1,428,210‌

600,000

Welltower,

Inc

4

.000

06/01/25

575,097‌

TOTAL

REAL

ESTATE

8,919,416‌

RETAILING

-

0

.6

%

700,000

Alibaba

Group

Holding

Ltd

3

.600

11/28/24

678,973‌

750,000

Amazon.com,

Inc

2

.730

04/13/24

732,749‌

1,000,000

Amazon.com,

Inc

0

.450

05/12/24

937,426‌

750,000

Amazon.com,

Inc

3

.000

04/13/25

724,136‌

300,000

AutoZone,

Inc

3

.125

07/15/23

296,326‌

400,000

Chevron

USA,

Inc

0

.426

08/11/23

386,536‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

348

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

RETAILING—continued

$

500,000

Chevron

USA,

Inc

3

.900

%

11/15/24

$

492,197‌

500,000

Dollar

General

Corp

4

.250

09/20/24

493,996‌

300,000

Dollar

Tree,

Inc

4

.000

05/15/25

290,656‌

225,000

Genuine

Parts

Co

1

.750

02/01/25

207,710‌

500,000

g

GSK

Consumer

Healthcare

Capital

UK

plc

3

.125

03/24/25

471,973‌

500,000

Home

Depot,

Inc

2

.700

04/15/25

476,936‌

1,000,000

Home

Depot,

Inc

4

.000

09/15/25

984,098‌

100,000

Kohl's

Corp

4

.250

07/17/25

89,278‌

500,000

Lowe's

Cos,

Inc

3

.125

09/15/24

483,929‌

500,000

Target

Corp

2

.250

04/15/25

471,569‌

TOTAL

RETAILING

8,218,488‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0

.4

%

250,000

Analog

Devices,

Inc

2

.950

04/01/25

240,279‌

500,000

Broadcom,

Inc

3

.625

10/15/24

486,541‌

800,000

e

Intel

Corp

3

.400

03/25/25

775,831‌

500,000

e

Intel

Corp

3

.700

07/29/25

487,157‌

200,000

Microchip

Technology,

Inc

4

.333

06/01/23

199,030‌

1,000,000

NVIDIA

Corp

0

.584

06/14/24

934,091‌

500,000

NXP

BV

4

.875

03/01/24

494,082‌

750,000

g

Qorvo,

Inc

1

.750

12/15/24

691,359‌

1,000,000

Skyworks

Solutions,

Inc

0

.900

06/01/23

970,175‌

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

5,278,545‌

SOFTWARE

&

SERVICES

-

0

.9

%

200,000

Autodesk,

Inc

4

.375

06/15/25

196,912‌

750,000

Fidelity

National

Information

Services,

Inc

0

.600

03/01/24

703,320‌

750,000

Fidelity

National

Information

Services,

Inc

4

.500

07/15/25

733,921‌

250,000

Fiserv,

Inc

3

.800

10/01/23

247,635‌

750,000

Fiserv,

Inc

2

.750

07/01/24

719,350‌

200,000

Fiserv,

Inc

3

.850

06/01/25

192,006‌

1,000,000

Global

Payments,

Inc

1

.500

11/15/24

918,770‌

1,500,000

International

Business

Machines

Corp

3

.000

05/15/24

1,459,020‌

600,000

International

Business

Machines

Corp

4

.000

07/27/25

588,245‌

1,250,000

Oracle

Corp

3

.400

07/08/24

1,214,940‌

1,700,000

Oracle

Corp

2

.950

05/15/25

1,599,977‌

500,000

PayPal

Holdings,

Inc

1

.650

06/01/25

460,262‌

1,500,000

salesforce.com,

Inc

0

.625

07/15/24

1,398,159‌

1,000,000

TD

SYNNEX

Corp

1

.250

08/09/24

919,488‌

1,000,000

VMware,

Inc

0

.600

08/15/23

962,768‌

575,000

VMware,

Inc

1

.000

08/15/24

532,147‌

TOTAL

SOFTWARE

&

SERVICES

12,846,920‌

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

0

.5

%

2,000,000

Apple,

Inc

2

.500

02/09/25

1,909,267‌

1,000,000

Apple,

Inc

1

.125

05/11/25

917,204‌

500,000

Arrow

Electronics,

Inc

4

.000

04/01/25

480,935‌

400,000

Cisco

Systems,

Inc

3

.500

06/15/25

389,735‌

200,000

Dell

International

LLC

5

.850

07/15/25

201,536‌

200,000

Flex

Ltd

4

.750

06/15/25

195,376‌

400,000

Hewlett

Packard

Enterprise

Co

4

.450

10/02/23

398,260‌

500,000

Hewlett

Packard

Enterprise

Co

1

.450

04/01/24

474,618‌

300,000

HP,

Inc

2

.200

06/17/25

277,663‌

300,000

NetApp,

Inc

1

.875

06/22/25

273,946‌

500,000

QUALCOMM,

Inc

3

.450

05/20/25

483,975‌

500,000

Teledyne

Technologies,

Inc

0

.950

04/01/24

466,898‌

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

6,469,413‌

TELECOMMUNICATION

SERVICES

-

0

.4

%

1,000,000

AT&T,

Inc

0

.900

03/25/24

945,781‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

349

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TELECOMMUNICATION

SERVICES—continued

$

500,000

Bell

Canada

0

.750

%

03/17/24

$

470,707‌

500,000

British

Telecommunications

plc

4

.500

12/04/23

495,431‌

1,000,000

g

Rogers

Communications,

Inc

2

.950

03/15/25

951,969‌

1,000,000

T-Mobile

USA,

Inc

3

.500

04/15/25

955,765‌

1,000,000

Verizon

Communications,

Inc

3

.376

02/15/25

968,082‌

600,000

Vodafone

Group

plc

4

.125

05/30/25

588,684‌

TOTAL

TELECOMMUNICATION

SERVICES

5,376,419‌

TRANSPORTATION

-

0

.2

%

500,000

Burlington

Northern

Santa

Fe

LLC

3

.400

09/01/24

488,270‌

1,000,000

Canadian

Pacific

Railway

Co

1

.350

12/02/24

924,719‌

500,000

Ryder

System,

Inc

2

.500

09/01/24

477,224‌

500,000

Union

Pacific

Corp

3

.250

01/15/25

483,750‌

TOTAL

TRANSPORTATION

2,373,963‌

UTILITIES

-

1

.3

%

750,000

American

Electric

Power

Co,

Inc

0

.750

11/01/23

718,212‌

750,000

American

Electric

Power

Co,

Inc

2

.031

03/15/24

717,798‌

200,000

Baltimore

Gas

&

Electric

Co

3

.350

07/01/23

198,418‌

1,000,000

Berkshire

Hathaway

Energy

Co

4

.050

04/15/25

983,004‌

300,000

Black

Hills

Corp

1

.037

08/23/24

277,070‌

500,000

CenterPoint

Energy

Resources

Corp

0

.700

03/02/23

490,799‌

750,000

DTE

Energy

Co

(Step

Bond)

4

.220

11/01/24

735,322‌

500,000

Duke

Energy

Corp

3

.750

04/15/24

490,945‌

750,000

Edison

International

4

.700

08/15/25

726,611‌

1,000,000

Emera

US

Finance

LP

0

.833

06/15/24

926,471‌

453,000

Entergy

Louisiana

LLC

0

.620

11/17/23

433,175‌

500,000

Entergy

Louisiana

LLC

0

.950

10/01/24

463,613‌

500,000

Eversource

Energy

4

.200

06/27/24

493,057‌

200,000

National

Fuel

Gas

Co

5

.200

07/15/25

197,528‌

250,000

NextEra

Energy

Capital

Holdings,

Inc

4

.200

06/20/24

246,865‌

1,000,000

NextEra

Energy

Capital

Holdings,

Inc

4

.255

09/01/24

985,624‌

500,000

NextEra

Energy

Capital

Holdings,

Inc

4

.450

06/20/25

491,261‌

393,000

ONE

Gas,

Inc

1

.100

03/11/24

376,223‌

200,000

Pacific

Gas

and

Electric

Co

4

.250

08/01/23

198,428‌

1,000,000

Pacific

Gas

and

Electric

Co

1

.700

11/15/23

958,891‌

500,000

Pacific

Gas

and

Electric

Co

3

.250

02/16/24

482,542‌

250,000

Pacific

Gas

and

Electric

Co

4

.950

06/08/25

242,680‌

1,000,000

Public

Service

Enterprise

Group,

Inc

0

.841

11/08/23

953,641‌

500,000

Sempra

Energy

3

.300

04/01/25

475,857‌

500,000

Southern

California

Edison

Co

1

.100

04/01/24

471,095‌

500,000

Southern

California

Edison

Co

0

.975

08/01/24

463,310‌

250,000

Southern

California

Edison

Co

4

.200

06/01/25

243,937‌

1,000,000

Southern

Co

2

.700

08/01/24

987,424‌

250,000

Tampa

Electric

Co

3

.875

07/12/24

245,357‌

500,000

WEC

Energy

Group,

Inc

0

.800

03/15/24

470,552‌

750,000

WEC

Energy

Group,

Inc

5

.000

09/27/25

747,290‌

350,000

Xcel

Energy,

Inc

0

.500

10/15/23

333,459‌

TOTAL

UTILITIES

17,226,459‌

TOTAL

CORPORATE

BONDS

313,001,703‌

(Cost

$329,430,794)

GOVERNMENT

BONDS

-

76

.4

%

AGENCY

SECURITIES

-

3

.1

%

800,000

Federal

Farm

Credit

Bank

(FFCB)

0

.125

05/10/23

780,704‌

330,000

FFCB

0

.250

02/26/24

312,092‌

3,000,000

FFCB

2

.625

05/16/24

2,924,976‌

1,500,000

FFCB

3

.375

08/26/24

1,473,908‌

1,000,000

FFCB

4

.250

09/26/24

998,854‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

350

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

AGENCY

SECURITIES—continued

$

750,000

FFCB

1

.125

%

01/06/25

$

698,361‌

1,000,000

FFCB

1

.750

02/14/25

942,100‌

1,500,000

Federal

Farm

Credit

Banks

Funding

Corp

0

.500

12/01/23

1,435,423‌

1,000,000

FFCB

0

.875

11/18/24

930,892‌

1,850,000

Federal

Home

Loan

Bank

(FHLB)

0

.500

11/09/23

1,774,731‌

4,000,000

FHLB

2

.125

02/28/24

3,882,239‌

3,000,000

FHLB

2

.750

06/28/24

2,918,801‌

310,000

FHLB

3

.000

07/08/24

303,094‌

2,000,000

FHLB

0

.750

12/13/24

1,851,565‌

2,000,000

FHLB

1

.000

12/20/24

1,858,608‌

1,000,000

FHLB

0

.500

04/14/25

907,706‌

2,500,000

Federal

Home

Loan

Mortgage

Corp

(FHLMC)

0

.375

04/20/23

2,450,117‌

1,500,000

FHLMC

0

.250

08/24/23

1,447,960‌

650,000

FHLMC

0

.250

09/08/23

625,802‌

750,000

FHLMC

0

.125

10/16/23

718,485‌

1,000,000

FHLMC

0

.250

11/06/23

956,220‌

945,000

FHLMC

0

.250

12/04/23

901,635‌

3,000,000

e

FHLMC

1

.500

02/12/25

2,811,493‌

750,000

Federal

National

Mortgage

Association

(FNMA)

0

.250

07/10/23

727,556‌

500,000

e

FNMA

0

.250

11/27/23

477,676‌

2,000,000

FNMA

1

.625

01/07/25

1,886,917‌

4,500,000

FNMA

0

.625

04/22/25

4,100,740‌

500,000

Tennessee

Valley

Authority

(TVA)

0

.750

05/15/25

455,785‌

TOTAL

AGENCY

SECURITIES

41,554,440‌

FOREIGN

GOVERNMENT

BONDS

-

6

.8

%

750,000

African

Development

Bank

3

.375

07/07/25

730,044‌

1,250,000

Asian

Development

Bank

1

.625

01/24/23

1,241,294‌

1,750,000

Asian

Development

Bank

0

.250

07/14/23

1,695,085‌

500,000

Asian

Development

Bank

0

.250

10/06/23

480,205‌

1,000,000

Asian

Development

Bank

1

.625

03/15/24

961,809‌

1,500,000

Asian

Development

Bank

0

.375

06/11/24

1,403,915‌

1,500,000

Asian

Development

Bank

4

.125

09/27/24

1,491,926‌

2,220,000

e

Asian

Development

Bank

0

.625

10/08/24

2,062,002‌

1,500,000

Asian

Development

Bank

2

.875

05/06/25

1,444,740‌

750,000

Asian

Infrastructure

Investment

Bank

0

.250

09/29/23

719,919‌

1,300,000

e

Asian

Infrastructure

Investment

Bank

0

.500

10/30/24

1,199,120‌

1,000,000

Asian

Infrastructure

Investment

Bank

3

.375

06/29/25

970,353‌

1,870,000

Canada

Government

International

Bond

2

.875

04/28/25

1,802,717‌

300,000

Chile

Government

International

Bond

2

.250

10/30/22

298,731‌

500,000

Corp

Andina

de

Fomento

2

.375

05/12/23

493,500‌

675,000

Corp

Andina

de

Fomento

1

.250

10/26/24

626,162‌

500,000

Council

of

Europe

Development

Bank

0

.250

06/10/23

486,515‌

500,000

Council

Of

Europe

Development

Bank

0

.250

10/20/23

479,210‌

1,500,000

Council

Of

Europe

Development

Bank

3

.000

06/16/25

1,448,037‌

1,000,000

European

Bank

for

Reconstruction

&

Development

0

.250

07/10/23

970,000‌

1,000,000

European

Bank

for

Reconstruction

&

Development

0

.500

05/19/25

904,454‌

1,360,000

European

Investment

Bank

0

.250

09/15/23

1,308,464‌

1,500,000

European

Investment

Bank

3

.250

01/29/24

1,478,651‌

2,000,000

European

Investment

Bank

0

.375

07/24/24

1,863,812‌

1,000,000

e

European

Investment

Bank

2

.500

10/15/24

964,701‌

1,250,000

European

Investment

Bank

0

.625

07/25/25

1,127,838‌

1,500,000

European

Investment

Bank

2

.750

08/15/25

1,435,590‌

1,000,000

Export

Development

Canada

3

.375

08/26/25

971,320‌

1,000,000

Export-Import

Bank

of

Korea

0

.375

02/09/24

944,614‌

750,000

Export-Import

Bank

of

Korea

0

.625

06/29/24

700,915‌

500,000

Export-Import

Bank

of

Korea

4

.000

09/15/24

493,842‌

500,000

Export-Import

Bank

of

Korea

1

.250

01/18/25

462,236‌

500,000

FMS

Wertmanagement

AoeR

2

.750

01/30/24

489,653‌

300,000

Indonesia

Government

International

Bond

2

.950

01/11/23

298,804‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

351

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

100,000

Inter-American

Development

Bank

2

.500

%

01/18/23

$

99,658‌

1,500,000

Inter-American

Development

Bank

0

.250

11/15/23

1,437,361‌

1,000,000

e

Inter-American

Development

Bank

2

.625

01/16/24

978,066‌

500,000

Inter-American

Development

Bank

3

.250

07/01/24

490,211‌

1,500,000

Inter-American

Development

Bank

0

.500

09/23/24

1,392,343‌

2,000,000

Inter-American

Development

Bank

2

.125

01/15/25

1,903,200‌

1,000,000

Inter-American

Investment

Corp

2

.625

04/22/25

955,564‌

1,000,000

International

Bank

for

Reconstruction

&

Development

1

.875

06/19/23

983,400‌

1,250,000

International

Bank

for

Reconstruction

&

Development

0

.250

11/24/23

1,192,878‌

500,000

International

Bank

for

Reconstruction

&

Development

2

.250

03/28/24

485,157‌

1,500,000

International

Bank

for

Reconstruction

&

Development

1

.500

08/28/24

1,423,263‌

2,000,000

International

Bank

for

Reconstruction

&

Development

2

.500

11/25/24

1,925,920‌

1,500,000

International

Bank

for

Reconstruction

&

Development

0

.750

03/11/25

1,375,579‌

1,500,000

International

Bank

for

Reconstruction

&

Development

0

.625

04/22/25

1,365,428‌

500,000

International

Finance

Corp

2

.875

07/31/23

493,689‌

750,000

International

Finance

Corp

3

.625

09/15/25

734,653‌

500,000

Israel

Government

International

Bond

3

.150

06/30/23

493,138‌

200,000

Japan

Bank

for

International

Cooperation

1

.625

10/17/22

199,842‌

450,000

Japan

Bank

for

International

Cooperation

1

.750

01/23/23

446,909‌

800,000

Japan

Bank

for

International

Cooperation

0

.625

05/22/23

781,272‌

500,000

Japan

Bank

for

International

Cooperation

3

.250

07/20/23

495,018‌

300,000

Japan

Bank

for

International

Cooperation

0

.375

09/15/23

288,219‌

700,000

Japan

Bank

for

International

Cooperation

3

.375

10/31/23

690,671‌

1,050,000

Japan

Bank

for

International

Cooperation

0

.500

04/15/24

987,791‌

1,000,000

Japan

Bank

for

International

Cooperation

1

.750

10/17/24

946,071‌

400,000

Japan

Bank

for

International

Cooperation

2

.875

04/14/25

383,254‌

500,000

Japan

Bank

for

International

Cooperation

3

.875

09/16/25

488,450‌

550,000

Korea

Development

Bank

0

.500

10/27/23

527,203‌

500,000

Korea

Development

Bank

0

.400

03/09/24

470,699‌

500,000

Korea

Development

Bank

0

.400

06/19/24

465,322‌

1,000,000

Korea

Development

Bank

2

.000

02/24/25

938,316‌

750,000

Korea

Development

Bank

4

.000

09/08/25

733,316‌

500,000

Korea

Government

International

Bond

3

.875

09/11/23

496,995‌

500,000

Kreditanstalt

fuer

Wiederaufbau

0

.250

10/19/23

479,480‌

1,400,000

Kreditanstalt

fuer

Wiederaufbau

0

.250

03/08/24

1,321,347‌

1,500,000

Kreditanstalt

fuer

Wiederaufbau

0

.500

09/20/24

1,392,658‌

3,000,000

Kreditanstalt

fuer

Wiederaufbau

1

.250

01/31/25

2,794,558‌

3,000,000

Kreditanstalt

fuer

Wiederaufbau

3

.125

06/10/25

2,905,200‌

3,500,000

Kreditanstalt

fuer

Wiederaufbau

0

.375

07/18/25

3,134,460‌

1,500,000

Landwirtschaftliche

Rentenbank

0

.500

05/27/25

1,355,745‌

1,000,000

Mexico

Government

International

Bond

3

.900

04/27/25

980,965‌

1,000,000

Nordic

Investment

Bank

0

.375

09/20/24

925,969‌

500,000

Nordic

Investment

Bank

2

.625

04/04/25

479,525‌

300,000

Panama

Government

International

Bond

3

.750

03/16/25

288,408‌

750,000

Peruvian

Government

International

Bond

7

.350

07/21/25

786,872‌

1,000,000

Poland

Government

International

Bond

4

.000

01/22/24

984,974‌

500,000

Province

of

Alberta

Canada

3

.350

11/01/23

494,291‌

1,250,000

Province

of

Alberta

Canada

2

.950

01/23/24

1,225,321‌

750,000

Province

of

Alberta

Canada

1

.875

11/13/24

710,394‌

500,000

Province

of

British

Columbia

Canada

1

.750

09/27/24

474,870‌

600,000

Province

of

Ontario

Canada

3

.400

10/17/23

593,316‌

1,000,000

Province

of

Ontario

Canada

3

.050

01/29/24

981,367‌

1,000,000

Province

of

Quebec

Canada

2

.875

10/16/24

968,991‌

750,000

Province

of

Quebec

Canada

1

.500

02/11/25

700,021‌

1,000,000

Province

of

Quebec

Canada

0

.600

07/23/25

898,590‌

1,000,000

Republic

of

Italy

Government

International

Bond

6

.875

09/27/23

1,011,823‌

1,000,000

Republic

of

Italy

Government

International

Bond

0

.875

05/06/24

928,309‌

300,000

Republic

of

Italy

Government

International

Bond

2

.375

10/17/24

281,213‌

1,000,000

Svensk

Exportkredit

AB

0

.750

04/06/23

983,249‌

1,000,000

Svensk

Exportkredit

AB

0

.500

11/10/23

957,696‌

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

352

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

FOREIGN

GOVERNMENT

BONDS—continued

$

500,000

Svensk

Exportkredit

AB

0

.375

%

03/11/24

$

472,169‌

500,000

Svensk

Exportkredit

AB

3

.625

09/03/24

492,128‌

925,000

Svensk

Exportkredit

AB

0

.625

10/07/24

857,243‌

TOTAL

FOREIGN

GOVERNMENT

BONDS

92,380,186‌

MUNICIPAL

BONDS

-

0

.0

%

280,000

Port

Authority

of

New

York

&

New

Jersey

1

.086

07/01/23

272,995‌

TOTAL

MUNICIPAL

BONDS

272,995‌

U.S.

TREASURY

SECURITIES

-

66

.5

%

15,000,000

United

States

Treasury

Note

0

.500

11/30/23

14,356,055‌

33,250,000

United

States

Treasury

Note

0

.125

12/15/23

31,639,453‌

17,200,000

United

States

Treasury

Note

0

.750

12/31/23

16,465,641‌

16,600,000

United

States

Treasury

Note

0

.125

01/15/24

15,734,336‌

14,000,000

United

States

Treasury

Note

0

.875

01/31/24

13,374,922‌

48,243,000

United

States

Treasury

Note

0

.125

02/15/24

45,568,905‌

22,250,000

United

States

Treasury

Note

1

.500

02/29/24

21,396,504‌

42,000,000

United

States

Treasury

Note

0

.250

03/15/24

39,606,328‌

18,000,000

United

States

Treasury

Note

2

.250

03/31/24

17,460,000‌

34,000,000

United

States

Treasury

Note

0

.375

04/15/24

32,011,797‌

10,000,000

United

States

Treasury

Note

2

.625

04/30/24

9,721,094‌

33,000,000

United

States

Treasury

Note

0

.250

05/15/24

30,914,297‌

13,400,000

United

States

Treasury

Note

2

.500

05/31/24

13,012,656‌

41,000,000

United

States

Treasury

Note

0

.250

06/15/24

38,294,961‌

12,000,000

United

States

Treasury

Note

3

.000

06/30/24

11,738,437‌

35,000,000

United

States

Treasury

Note

0

.375

07/15/24

32,679,883‌

11,500,000

e

United

States

Treasury

Note

3

.000

07/31/24

11,243,945‌

53,000,000

United

States

Treasury

Note

0

.375

08/15/24

49,304,492‌

15,000,000

e

United

States

Treasury

Note

3

.250

08/31/24

14,729,297‌

32,500,000

United

States

Treasury

Note

0

.375

09/15/24

30,150,098‌

15,500,000

United

States

Treasury

Note

4

.250

09/30/24

15,507,266‌

30,000,000

United

States

Treasury

Note

0

.625

10/15/24

27,888,281‌

44,500,000

United

States

Treasury

Note

0

.750

11/15/24

41,350,234‌

44,500,000

United

States

Treasury

Note

1

.000

12/15/24

41,466,699‌

26,500,000

United

States

Treasury

Note

1

.125

01/15/25

24,689,512‌

22,000,000

United

States

Treasury

Note

1

.500

02/15/25

20,622,422‌

43,000,000

United

States

Treasury

Note

1

.750

03/15/25

40,490,547‌

14,000,000

United

States

Treasury

Note

2

.625

04/15/25

13,444,922‌

35,000,000

United

States

Treasury

Note

2

.750

05/15/25

33,680,664‌

26,000,000

United

States

Treasury

Note

2

.875

06/15/25

25,074,766‌

33,000,000

United

States

Treasury

Note

3

.000

07/15/25

31,896,562‌

45,000,000

United

States

Treasury

Note

3

.125

08/15/25

43,618,360‌

5,000,000

United

States

Treasury

Note

0

.250

08/31/25

4,454,101‌

44,000,000

United

States

Treasury

Note

3

.500

09/15/25

43,102,813‌

4,000,000

United

States

Treasury

Note

0

.250

09/30/25

3,555,000‌

TOTAL

U.S.

TREASURY

SECURITIES

900,245,250‌

TOTAL

GOVERNMENT

BONDS

1,034,452,871‌

(Cost

$1,085,935,609)

Portfolio

of

investments

(unaudited)

Short-Term

Bond

Index

Fund

September

30,

2022

353

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

STRUCTURED

ASSETS

-

0

.0

%

ASSET

BACKED

-

0

.0

%

$

200,000

Delta

Air

Lines

Pass

Through

Trust

3

.204

%

04/25/24

$

193,239‌

Series

-

2019

1

(Class

AA)

TOTAL

ASSET

BACKED

193,239‌

TOTAL

STRUCTURED

ASSETS

193,239‌

(Cost

$209,112)

TOTAL

BONDS

1,347,647,813‌

(Cost

$1,415,575,515)

REFERENCERATE

&

SPREAD

SHORT-TERM

INVESTMENTS

-

2.4%

REPURCHASE

AGREEMENT

-

0

.5

%

$

6,290,000

r

Fixed

Income

Clearing

Corp

(FICC)

2

.950

10/03/22

6,290,000‌

TOTAL

REPURCHASE

AGREEMENT

6,290,000‌

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

1

.9

%

25,649,136

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3

.070

25,649,136‌

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

25,649,136‌

TOTAL

SHORT-TERM

INVESTMENTS

31,939,136‌

(Cost

$31,939,136)

TOTAL

INVESTMENTS

-

101.9%

1,379,586,949‌

(Cost

$1,447,514,651)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(1.9)%

(

25,550,554‌

)

NET

ASSETS

-

100.0%

$

1,354,036,395‌

‡

Perpetual

security

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

$24,943,206.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

h

All

or

a

portion

of

these

securities

were

purchased

on

a

delayed

delivery

basis.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.950%

dated

9/30/22

to

be

repurchased

at

$6,290,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.375%

and

maturity

date

1/31/26,

valued

at

$6,415,851.

Money

Market

Fund

September

30,

2022

Portfolio

of

investments

(unaudited)

354

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

100.0%

GOVERNMENT

AGENCY

DEBT

-

47

.4

%

$

1,500,000‌

Federal

Farm

Credit

Bank

(FFCB)

2

.500

%

10/13/22

$

1,499,702‌

5,000,000‌

FFCB

0

.000

10/18/22

4,994,333‌

4,500,000‌

FFCB

0

.000

11/03/22

4,490,843‌

14,000,000‌

FFCB

0

.000

11/08/22

13,977,833‌

800,000‌

FFCB

0

.125

11/23/22

798,227‌

6,000,000‌

FFCB

1

.550

11/25/22

5,999,027‌

5,000,000‌

FFCB

0

.000

11/29/22

4,987,135‌

750,000‌

FFCB

2

.875

12/21/22

751,727‌

10,600,000‌

FFCB

0

.000

01/13/23

10,492,210‌

7,250,000‌

FFCB

0

.000

02/23/23

7,151,591‌

7,500,000‌

FFCB

0

.000

03/01/23

7,383,604‌

7,500,000‌

FFCB

0

.000

03/02/23

7,382,833‌

31,625,000‌

Federal

Home

Loan

Bank

(FHLB)

0

.000

10/05/22

31,617,304‌

9,161,000‌

FHLB

0

.000

10/06/22

9,158,404‌

7,500,000‌

FHLB

0

.000

10/11/22

7,495,833‌

30,387,000‌

FHLB

0

.000

10/12/22

30,366,131‌

5,000,000‌

FHLB

0

.000

10/14/22

4,995,436‌

1,000,000‌

FHLB

0

.000

10/18/22

998,819‌

55,400,000‌

FHLB

0

.000

10/19/22

55,340,199‌

71,900,000‌

FHLB

0

.000

10/21/22

71,816,832‌

100,000‌

FHLB

0

.125

10/21/22

99,931‌

7,500,000‌

FHLB

0

.000

10/24/22

7,489,937‌

39,750,000‌

FHLB

0

.000

10/26/22

39,680,852‌

37,250,000‌

FHLB

0

.000

10/27/22

37,189,292‌

2,954,000‌

FHLB

0

.000

10/28/22

2,948,461‌

15,029,000‌

FHLB

0

.000

10/31/22

14,992,736‌

7,000,000‌

FHLB

0

.000

11/01/22

6,991,019‌

10,006,000‌

FHLB

0

.000

11/02/22

9,983,786‌

54,931,000‌

FHLB

0

.000

11/03/22

54,805,320‌

15,000,000‌

FHLB

0

.000

11/08/22

14,977,358‌

26,000,000‌

FHLB

0

.000

11/09/22

25,925,696‌

14,000,000‌

FHLB

1

.470

11/10/22

13,999,584‌

200,000‌

FHLB

0

.000

11/15/22

199,325‌

11,000,000‌

FHLB

0

.000

11/16/22

10,963,587‌

7,000,000‌

FHLB

0

.000

11/17/22

6,985,926‌

38,500,000‌

FHLB

0

.000

11/18/22

38,377,377‌

18,650,000‌

FHLB

0

.000

11/23/22

18,573,121‌

300,000‌

FHLB

0

.125

11/29/22

299,255‌

12,944,000‌

FHLB

0

.000

11/30/22

12,880,359‌

8,400,000‌

FHLB

0

.000

12/02/22

8,356,166‌

22,250,000‌

FHLB

0

.000

12/07/22

22,123,825‌

3,350,000‌

FHLB

1

.875

12/09/22

3,350,500‌

1,000,000‌

FHLB

2

.500

12/09/22

999,848‌

8,225,000‌

FHLB

0

.000

12/12/22

8,169,070‌

31,300,000‌

FHLB

0

.000

12/16/22

31,077,941‌

3,750,000‌

FHLB

0

.000

12/19/22

3,737,245‌

14,250,000‌

FHLB

0

.000

12/20/22

14,199,650‌

3,750,000‌

FHLB

0

.000

12/21/22

3,729,159‌

815,000‌

FHLB

1

.790

12/30/22

813,148‌

11,250,000‌

FHLB

0

.000

01/11/23

11,167,125‌

350,000‌

Federal

National

Mortgage

Association

(FNMA)

2

.000

10/05/22

350,026‌

900,000‌

FNMA

2

.125

11/29/22

898,045‌

13,000,000‌

Tennessee

Valley

Authority

(TVA)

0

.000

10/12/22

12,988,083‌

TOTAL

GOVERNMENT

AGENCY

DEBT

721,020,776‌

REPURCHASE

AGREEMENT

-

7

.5

%

113,724,000‌

r

Fixed

Income

Clearing

Corp

(FICC)

2

.960

10/03/22

113,724,000‌

TOTAL

REPURCHASE

AGREEMENT

113,724,000‌

Portfolio

of

investments

(unaudited)

Money

Market

Fund

September

30,

2022

355

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TREASURY

DEBT

-

15

.9

%

$

16,500,000‌

United

States

Cash

Management

Bill

0

.000

%

12/20/22

$

16,394,240‌

9,000,000‌

United

States

Cash

Management

Bill

0

.000

12/27/22

8,935,457‌

6,000,000‌

United

States

Cash

Management

Bill

0

.000

01/17/23

5,936,190‌

26,000,000‌

United

States

Treasury

Bill

0

.000

10/04/22

25,996,969‌

11,000,000‌

United

States

Treasury

Bill

0

.000

10/11/22

10,995,386‌

9,000,000‌

United

States

Treasury

Bill

0

.000

10/13/22

8,993,666‌

11,200,000‌

United

States

Treasury

Bill

0

.000

10/20/22

11,185,426‌

11,000,000‌

United

States

Treasury

Bill

0

.000

10/25/22

10,980,933‌

7,027,000‌

United

States

Treasury

Bill

0

.000

11/10/22

7,015,987‌

16,543,000‌

United

States

Treasury

Bill

0

.000

11/17/22

16,510,591‌

7,300,000‌

United

States

Treasury

Bill

0

.000

11/22/22

7,271,058‌

12,660,000‌

United

States

Treasury

Bill

0

.000

11/25/22

12,622,686‌

16,500,000‌

United

States

Treasury

Bill

0

.000

12/01/22

16,455,819‌

18,350,000‌

United

States

Treasury

Bill

0

.000

12/08/22

18,290,305‌

7,500,000‌

United

States

Treasury

Bill

0

.000

12/22/22

7,459,239‌

5,500,000‌

United

States

Treasury

Bill

0

.000

01/12/23

5,457,874‌

5,600,000‌

United

States

Treasury

Bill

0

.000

02/09/23

5,538,133‌

9,000,000‌

United

States

Treasury

Bill

0

.000

02/16/23

8,895,914‌

9,125,000‌

United

States

Treasury

Bill

0

.000

02/23/23

9,010,769‌

10,750,000‌

United

States

Treasury

Note

0

.125

11/30/22

10,710,331‌

16,500,000‌

United

States

Treasury

Note

2

.000

11/30/22

16,489,601‌

TOTAL

TREASURY

DEBT

241,146,574‌

VARIABLE

RATE

SECURITIES

-

29

.2

%

2,500,000‌

i

Federal

Agricultural

Mortgage

Corp

(FAMC)

SOFR

+

0.020%

2

.980

10/24/22

2,500,000‌

10,500,000‌

i

FAMC

SOFR

+

0.050%

3

.010

03/03/23

10,500,000‌

3,000,000‌

i

FAMC

SOFR

+

0.100%

3

.060

02/12/24

3,000,826‌

10,500,000‌

i

Federal

Farm

Credit

Bank

(FFCB)

SOFR

+

0.005%

2

.965

10/05/22

10,499,996‌

1,400,000‌

i

FFCB

SOFR

+

0.030%

2

.990

10/12/22

1,400,006‌

4,975,000‌

i

FFCB

SOFR

+

0.060%

3

.020

10/21/22

4,975,025‌

19,909,000‌

i

FFCB

SOFR

+

0.010%

2

.970

11/16/22

19,908,958‌

8,400,000‌

i

FFCB

SOFR

+

0.008%

2

.968

11/22/22

8,399,970‌

9,400,000‌

i

FFCB

SOFR

+

0.025%

2

.985

12/06/22

9,400,000‌

6,501,000‌

i

FFCB

SOFR

+

0.060%

3

.020

12/28/22

6,501,684‌

8,000,000‌

i

FFCB

SOFR

+

0.015%

2

.975

01/09/23

7,999,777‌

1,761,000‌

i

FFCB

SOFR

+

0.060%

3

.020

01/13/23

1,761,153‌

3,600,000‌

i

FFCB

SOFR

+

0.050%

3

.010

02/17/23

3,600,413‌

7,750,000‌

i

FFCB

SOFR

+

0.015%

2

.975

03/07/23

7,749,830‌

1,000,000‌

i

FFCB

SOFR

+

0.040%

3

.000

03/10/23

1,000,000‌

7,000,000‌

i

FFCB

SOFR

+

0.015%

2

.975

05/02/23

6,999,793‌

4,000,000‌

i

FFCB

SOFR

+

0.035%

2

.995

05/04/23

4,000,000‌

3,500,000‌

i

FFCB

SOFR

+

0.035%

2

.995

07/12/23

3,499,862‌

22,225,000‌

i

FFCB

SOFR

+

0.018%

2

.978

07/13/23

22,222,703‌

11,250,000‌

i

FFCB

SOFR

+

0.040%

3

.000

08/17/23

11,249,999‌

6,400,000‌

i

FFCB

SOFR

+

0.030%

2

.990

08/28/23

6,400,000‌

4,225,000‌

i

FFCB

SOFR

+

0.050%

3

.010

09/15/23

4,225,000‌

1,500,000‌

i

FFCB

SOFR

+

0.040%

3

.000

09/20/23

1,500,000‌

2,000,000‌

i

FFCB

SOFR

+

0.025%

2

.985

09/27/23

2,000,000‌

2,000,000‌

i

FFCB

SOFR

+

0.045%

3

.005

10/16/23

2,000,000‌

2,150,000‌

i

FFCB

SOFR

+

0.025%

2

.985

10/27/23

2,150,000‌

700,000‌

i

FFCB

SOFR

+

0.025%

2

.985

11/30/23

699,752‌

2,000,000‌

i

FFCB

SOFR

+

0.120%

3

.080

01/22/24

2,001,659‌

7,500,000‌

i

FFCB

SOFR

+

0.040%

3

.000

02/09/24

7,499,503‌

2,250,000‌

i

FFCB

SOFR

+

0.045%

3

.005

02/20/24

2,250,000‌

700,000‌

i

FFCB

SOFR

+

0.040%

3

.000

03/04/24

700,000‌

2,525,000‌

i

FFCB

SOFR

+

0.050%

3

.010

04/12/24

2,525,000‌

13,500,000‌

i

Federal

Home

Loan

Bank

(FHLB)

SOFR

+

0.085%

3

.045

10/05/22

13,500,029‌

7,750,000‌

i

FHLB

SOFR

+

0.010%

2

.970

10/14/22

7,750,000‌

17,000,000‌

i

FHLB

SOFR

+

0.030%

2

.990

10/20/22

17,000,068‌

7,250,000‌

i

FHLB

SOFR

+

0.030%

2

.990

10/25/22

7,250,000‌

7,250,000‌

i

FHLB

SOFR

+

0.040%

3

.000

10/30/22

7,250,000‌

Portfolio

of

investments

(unaudited)

Money

Market

Fund

September

30,

2022

356

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

VARIABLE

RATE

SECURITIES—continued

$

7,500,000‌

i

FHLB

SOFR

+

0.030%

2

.990

%

12/05/22

$

7,500,000‌

36,500,000‌

i

FHLB

SOFR

+

0.060%

3

.020

12/08/22

36,501,944‌

11,000,000‌

i

FHLB

SOFR

+

0.020%

2

.980

12/21/22

11,000,000‌

3,725,000‌

i

FHLB

SOFR

+

0.060%

3

.020

12/23/22

3,725,428‌

7,250,000‌

i

FHLB

SOFR

+

0.010%

2

.970

01/05/23

7,250,000‌

8,800,000‌

i

FHLB

SOFR

+

0.020%

2

.980

01/11/23

8,800,000‌

11,000,000‌

i

FHLB

SOFR

+

0.010%

2

.970

01/17/23

11,000,000‌

7,350,000‌

i

FHLB

SOFR

+

0.020%

2

.980

01/23/23

7,350,000‌

7,250,000‌

i

FHLB

SOFR

+

0.020%

2

.980

01/24/23

7,250,000‌

7,250,000‌

i

FHLB

SOFR

+

0.010%

2

.970

01/25/23

7,250,000‌

8,800,000‌

i

FHLB

SOFR

+

0.015%

2

.975

01/26/23

8,800,000‌

11,000,000‌

i

FHLB

SOFR

+

0.025%

2

.985

02/06/23

11,000,000‌

15,000,000‌

i

FHLB

SOFR

+

0.030%

2

.990

02/28/23

15,000,000‌

7,000,000‌

i

FHLB

SOFR

+

0.030%

2

.990

03/02/23

7,000,000‌

1,100,000‌

i

FHLB

SOFR

+

0.015%

2

.975

03/15/23

1,099,924‌

7,350,000‌

i

FHLB

SOFR

+

0.030%

2

.990

03/21/23

7,350,000‌

9,000,000‌

i

FHLB

SOFR

+

0.040%

3

.000

03/27/23

9,000,000‌

11,000,000‌

i

FHLB

SOFR

+

0.055%

3

.015

04/04/23

11,000,000‌

8,425,000‌

i

FHLB

SOFR

+

0.035%

2

.995

05/19/23

8,425,285‌

7,250,000‌

i

FHLB

SOFR

+

0.045%

3

.005

05/23/23

7,250,000‌

7,350,000‌

i

FHLB

SOFR

+

0.060%

3

.020

07/03/23

7,350,000‌

7,000,000‌

i

FHLB

SOFR

+

0.030%

2

.990

08/11/23

7,000,000‌

1,204,000‌

i

United

States

Treasury

Note

US

Treasury

Bill

3

M

+

0.034%

3

.331

04/30/23

1,204,014‌

TOTAL

VARIABLE

RATE

SECURITIES

442,977,601‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$1,518,868,951)

1,518,868,951‌

TOTAL

INVESTMENTS

-

100.0%

1,518,868,951‌

(Cost

$1,518,868,951)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.0%

598,784‌

NET

ASSETS

-

100.0%

$

1,519,467,735‌

M

Month

SOFR

Secure

Overnight

Financing

Rate

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.960%

dated

9/30/22

to

be

repurchased

at

$113,724,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

1/15/26,

valued

at

$115,998,538.

TIAA-CREF

Funds

September

30,

2022

Statements

of

assets

and

liabilities

(unaudited)

See

notes

to

financial

statements

358

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

8.1

Bond

Index

Fund

8.2

Core

Bond

Fund

8.3

Core

Impact

Bond

Fund

8.4

Core

Plus

Bond

Fund

8.5

5–15

Year

Laddered

Tax-

Exempt

Bond

Fund

ASSETS

Portfolio

investments,

at

value

*†

$

19,212,717,994‌

$

9,256,191,910‌

$

6,161,078,416‌

$

4,475,559,719‌

$

239,803,603‌

Cash

§

373,489‌

29,590,059‌

23,938,174‌

14,903,737‌

10,909‌

Receivable

from

securities

transactions

329,963,701‌

256,549,900‌

156,279,674‌

105,398,815‌

–‌

Receivable

from

Fund

shares

sold

1,004,321‌

3,514,594‌

11,152,803‌

3,388,393‌

9,968‌

Dividends

and

interest

receivable

101,436,916‌

60,816,573‌

39,957,618‌

31,872,966‌

3,428,825‌

Due

from

affiliates

581,770‌

938,659‌

78,648‌

628,872‌

8,017‌

Receivable

for

variation

margin

on

open

futures

contracts

–‌

–‌

–‌

–‌

–‌

Receivable

for

variation

margin

on

open

centrally

cleared

swap

contracts

–‌

94,372‌

–‌

107,547‌

–‌

Other

466,907‌

351,030‌

81,642‌

187,866‌

27,983‌

Total

assets

19,646,545,098‌

9,608,047,097‌

6,392,566,975‌

4,632,047,915‌

243,289,305‌

LIABILITIES

Management

fees

payable

972,439‌

2,150,568‌

1,681,600‌

1,072,052‌

51,240‌

Service

agreement

fees

payable

120,470‌

230,095‌

270,084‌

80,397‌

82‌

Distribution

fees

payable

8,916‌

17,590‌

59,159‌

50,430‌

47,569‌

Due

to

affiliates

42,465‌

25,799‌

19,026‌

17,788‌

6,008‌

Overdraft

payable

–‌

–‌

–‌

–‌

–‌

Payable

for

collateral

for

securities

loaned

263,564,431‌

72,742,537‌

185,730,513‌

47,413,362‌

–‌

Payable

for

securities

transactions

61,528,167‌

8,556,811‌

5,506,927‌

4,859,520‌

–‌

Payable

for

delayed

delivery

securities

55,433,778‌

275,842,919‌

170,289,303‌

125,146,962‌

–‌

Payable

for

Fund

shares

redeemed

377,883,567‌

164,565,814‌

12,471,461‌

103,681,579‌

33,718‌

Income

distribution

payable

23,028,551‌

13,904,131‌

3,639,362‌

11,206,089‌

37,557‌

Payable

for

variation

margin

on

open

centrally

cleared

swap

contracts

–‌

50,799‌

–‌

56,523‌

–‌

Payable

for

trustee

compensation

485,549‌

335,289‌

87,454‌

183,897‌

28,206‌

Accrued

expenses

and

other

payables

545,458‌

293,918‌

627,619‌

223,298‌

69,829‌

Total

liabilities

783,613,791‌

538,716,270‌

380,382,508‌

293,991,897‌

274,209‌

NET

ASSETS

$

18,862,931,307‌

$

9,069,330,827‌

$

6,012,184,467‌

$

4,338,056,018‌

$

243,015,096‌

NET

ASSETS

CONSIST

OF:

Paid-in-capital

$

21,982,343,894‌

$

10,799,394,568‌

$

7,168,814,855‌

$

5,210,194,839‌

$

271,192,127‌

Total

distributable

earnings

(loss)

(

3,119,412,587‌

)

(

1,730,063,741‌

)

(

1,156,630,388‌

)

(

872,138,821‌

)

(

28,177,031‌

)

NET

ASSETS

$

18,862,931,307‌

$

9,069,330,827‌

$

6,012,184,467‌

$

4,338,056,018‌

$

243,015,096‌

See

notes

to

financial

statements

359

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

8.6

Green

Bond

Fund

8.7

High-Yield

Fund

8.8

Inflation-Linked

Bond

Fund

8.9

Short

Duration

Impact

Bond

Fund

9.01

Short-Term

Bond

Fund

9.1

Short-Term

Bond

Index

Fund

9.2

Money

Market

Fund

$

135,839,626‌

$

2,506,670,805‌

$

2,682,535,479‌

$

61,539,400‌

$

1,907,770,330‌

$

1,379,586,949‌

$

1,518,868,951‌

5,070‌

6,746,873‌

–‌

955‌

–‌

827‌

631‌

850,486‌

8,127,360‌

11,111,417‌

3,750‌

12,736‌

71,708,509‌

–‌

10,638‌

1,192,888‌

4,547,365‌

21,132‌

5,367,282‌

390,826‌

2,651,625‌

1,034,918‌

42,112,136‌

5,395,972‌

253,764‌

6,506,980‌

5,107,632‌

1,461,639‌

22,110‌

193,405‌

386,796‌

19,771‌

193,934‌

59,218‌

43,151‌

–‌

–‌

551,563‌

–‌

3,015,321‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

579‌

181,937‌

173,252‌

382‌

94,956‌

13,366‌

–‌

137,763,427‌

2,565,225,404‌

2,704,701,844‌

61,839,154‌

1,922,961,539‌

1,456,867,327‌

1,523,025,997‌

45,508‌

728,270‌

553,811‌

13,552‌

371,109‌

56,558‌

121,643‌

7,683‌

48,810‌

62,318‌

2,773‌

60,192‌

73,558‌

57,617‌

1,576‌

46,646‌

28,471‌

781‌

27,442‌

561‌

61,941‌

8,554‌

13,884‌

14,710‌

8,479‌

13,007‌

11,959‌

10,820‌

–‌

–‌

469,760‌

–‌

2,442,027‌

–‌

–‌

1,413,072‌

67,293,546‌

14,796,169‌

2,426,115‌

38,768,697‌

25,649,136‌

–‌

–‌

–‌

–‌

–‌

1,282,344‌

55,056,012‌

–‌

–‌

–‌

–‌

–‌

1,995,000‌

750,000‌

–‌

186,298‌

15,279,452‌

2,140,548‌

24,497‌

20,277,065‌

19,900,158‌

3,203,578‌

191,048‌

4,422,969‌

–‌

58,756‌

2,380,061‌

1,260,744‌

8,688‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

654‌

181,498‌

173,950‌

397‌

96,795‌

14,493‌

1,397‌

30,192‌

191,076‌

92,840‌

27,885‌

116,863‌

57,753‌

92,578‌

1,884,585‌

88,206,151‌

18,332,577‌

2,563,235‌

67,830,602‌

102,830,932‌

3,558,262‌

$

135,878,842‌

$

2,477,019,253‌

$

2,686,369,267‌

$

59,275,919‌

$

1,855,130,937‌

$

1,354,036,395‌

$

1,519,467,735‌

$

152,868,349‌

$

3,188,238,435‌

$

2,875,962,198‌

$

61,744,613‌

$

1,970,313,456‌

$

1,434,564,990‌

$

1,519,467,964‌

(

16,989,507‌

)

(

711,219,182‌

)

(

189,592,931‌

)

(

2,468,694‌

)

(

115,182,519‌

)

(

80,528,595‌

)

(

229‌

)

$

135,878,842‌

$

2,477,019,253‌

$

2,686,369,267‌

$

59,275,919‌

$

1,855,130,937‌

$

1,354,036,395‌

$

1,519,467,735‌

Statements

of

assets

and

liabilities

(unaudited)

TIAA-CREF

Funds

September

30,

2022

See

notes

to

financial

statements

360

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

continued

continued

continued

8.1

Bond

Index

Fund

8.2

Core

Bond

Fund

8.3

Core

Impact

Bond

Fund

8.4

Core

Plus

Bond

Fund

8.5

5–15

Year

Laddered

Tax-

Exempt

Bond

Fund

INSTITUTIONAL

CLASS:

Net

assets

$

8,607,266,304‌

$

4,254,235,046‌

$

3,984,111,265‌

$

1,343,409,805‌

$

16,789,372‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

919,663,564‌

479,091,869‌

452,952,478‌

151,207,780‌

1,803,910‌

Net

asset

value

per

share

$

9

.36‌

$

8

.88‌

$

8

.80‌

$

8

.88‌

$

9

.31‌

ADVISOR

CLASS:

Net

assets

$

17,090,656‌

$

868,956,167‌

$

1,432,251,661‌

$

118,574,668‌

$

630,811‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

1,825,877‌

97,791,995‌

162,740,492‌

13,334,973‌

67,805‌

Net

asset

value

per

share

$

9

.36‌

$

8

.89‌

$

8

.80‌

$

8

.89‌

$

9

.30‌

PREMIER

CLASS:

Net

assets

$

23,361,072‌

$

5,812,027‌

$

23,441,895‌

$

6,027,534‌

$

–‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

2,496,363‌

654,289‌

2,663,812‌

678,514‌

–‌

Net

asset

value

per

share

$

9

.36‌

$

8

.88‌

$

8

.80‌

$

8

.88‌

$

–‌

RETIREMENT

CLASS:

Net

assets

$

554,457,917‌

$

136,602,908‌

$

309,304,494‌

$

264,568,612‌

$

–‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

59,215,103‌

15,099,721‌

35,156,889‌

29,742,702‌

–‌

Net

asset

value

per

share

$

9

.36‌

$

9

.05‌

$

8

.80‌

$

8

.90‌

$

–‌

RETAIL

CLASS:

Net

assets

$

28,192,028‌

$

79,327,390‌

$

263,075,152‌

$

233,841,452‌

$

225,594,913‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

3,010,636‌

8,777,516‌

29,928,796‌

26,269,932‌

24,212,318‌

Net

asset

value

per

share

$

9

.36‌

$

9

.04‌

$

8

.79‌

$

8

.90‌

$

9

.32‌

CLASS

W:

Net

assets

$

9,632,563,330‌

$

3,724,397,289‌

$

–‌

$

2,371,633,947‌

$

–‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

1,029,073,541‌

419,383,833‌

–‌

266,939,748‌

–‌

Net

asset

value

per

share

$

9

.36‌

$

8

.88‌

$

–‌

$

8

.88‌

$

–‌

*

Includes

securities

loaned

of

$

262,852,028‌

$

74,296,898‌

$

185,233,600‌

$

51,328,518‌

$

–‌

†

Portfolio

investments,

cost

$

22,216,174,466‌

$

10,579,350,711‌

$

7,055,502,204‌

$

5,148,721,569‌

$

268,249,224‌

§

Includes

cash

collateral

for

mortgage

dollar

rolls

of

$

–‌

$

30,933,750‌

$

27,258,810‌

$

21,614,344‌

$

–‌

See

notes

to

financial

statements

361

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

concluded

8.6

Green

Bond

Fund

8.7

High-Yield

Fund

8.8

Inflation-Linked

Bond

Fund

8.9

Short

Duration

Impact

Bond

Fund

9.01

Short-Term

Bond

Fund

9.1

Short-Term

Bond

Index

Fund

9.2

Money

Market

Fund

$

70,380,297‌

$

1,498,722,306‌

$

579,719,886‌

$

33,134,613‌

$

571,677,208‌

$

72,545,432‌

$

915,049,341‌

7,896,652‌

188,530,183‌

55,267,758‌

3,485,264‌

58,413,962‌

7,671,041‌

915,018,439‌

$

8

.91‌

$

7

.95‌

$

10

.49‌

$

9

.51‌

$

9

.79‌

$

9

.46‌

$

1

.00‌

$

44,094,453‌

$

7,812,577‌

$

130,213,384‌

$

15,822,688‌

$

159,358,598‌

$

977,475‌

$

846,826‌

4,949,547‌

983,491‌

12,412,123‌

1,664,622‌

16,290,331‌

103,419‌

846,771‌

$

8

.91‌

$

7

.94‌

$

10

.49‌

$

9

.51‌

$

9

.78‌

$

9

.45‌

$

1

.00‌

$

891,248‌

$

14,509,109‌

$

2,544,650‌

$

950,765‌

$

3,614,738‌

$

343,650‌

$

30,868,596‌

100,000‌

1,822,839‌

243,092‌

100,000‌

369,017‌

36,363‌

30,859,605‌

$

8

.91‌

$

7

.96‌

$

10

.47‌

$

9

.51‌

$

9

.80‌

$

9

.45‌

$

1

.00‌

$

13,570,556‌

$

219,537,944‌

$

149,517,463‌

$

6,197,469‌

$

135,438,289‌

$

360,139,101‌

$

290,001,754‌

1,522,518‌

27,609,289‌

14,132,168‌

651,808‌

13,824,238‌

38,085,220‌

289,991,819‌

$

8

.91‌

$

7

.95‌

$

10

.58‌

$

9

.51‌

$

9

.80‌

$

9

.46‌

$

1

.00‌

$

6,942,288‌

$

208,731,979‌

$

131,811,779‌

$

3,170,384‌

$

130,047,756‌

$

2,465,813‌

$

282,701,218‌

778,878‌

26,140,783‌

12,945,132‌

333,464‌

13,279,686‌

260,890‌

282,679,852‌

$

8

.91‌

$

7

.98‌

$

10

.18‌

$

9

.51‌

$

9

.79‌

$

9

.45‌

$

1

.00‌

$

–‌

$

527,705,338‌

$

1,692,562,105‌

$

–‌

$

854,994,348‌

$

917,564,924‌

$

–‌

–‌

66,379,538‌

161,377,777‌

–‌

87,374,195‌

97,027,903‌

–‌

$

–‌

$

7

.95‌

$

10

.49‌

$

–‌

$

9

.79‌

$

9

.46‌

$

–‌

$

1,374,482‌

$

71,972,050‌

$

13,691,777‌

$

2,351,131‌

$

37,623,329‌

$

24,943,206‌

$

–‌

$

151,739,826‌

$

2,923,728,750‌

$

2,921,119,459‌

$

63,566,222‌

$

2,015,862,863‌

$

1,447,514,651‌

$

1,518,868,951‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

TIAA-CREF

Funds

For

the

period

ended

September

30,

2022

Statements

of

operations

(unaudited)

See

notes

to

financial

statements

362

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

8.1

Bond

Index

Fund

8.2

Core

Bond

Fund

8.3

Core

Impact

Bond

Fund

8.4

Core

Plus

Bond

Fund

8.5

5–15

Year

Laddered

Tax-

Exempt

Bond

Fund

INVESTMENT

INCOME

Dividends

$

–‌

$

321,711‌

$

1,707,447‌

$

287,346‌

$

–‌

Interest*

248,847,216‌

155,702,755‌

96,753,613‌

87,179,612‌

3,427,969‌

Income

from

securities

lending,

net

446,295‌

609,398‌

480,612‌

215,901‌

–‌

Total

income

249,293,511‌

156,633,864‌

98,941,672‌

87,682,859‌

3,427,969‌

EXPENSES

Management

fees

6,753,104‌

13,553,062‌

10,677,945‌

6,884,920‌

321,476‌

Shareholder

servicing

—

Institutional

Class

4,844‌

3,005‌

24,626‌

1,429‌

30‌

Shareholder

servicing

—

Advisor

Class

8,152‌

640,096‌

476,950‌

52,679‌

267‌

Shareholder

servicing

—

Premier

Class

26‌

14‌

17,118‌

9‌

–‌

Shareholder

servicing

—

Retirement

Class

744,193‌

187,233‌

437,698‌

369,281‌

–‌

Shareholder

servicing

—

Retail

Class

8,451‌

19,774‌

20,866‌

87,745‌

37,465‌

Shareholder

servicing

—

Class

W

4,911‌

2,161‌

–‌

1,496‌

–‌

Distribution

fees

—

Premier

Class

18,922‌

4,721‌

19,038‌

5,034‌

–‌

Distribution

fees

—

Retail

Class

38,021‌

108,418‌

372,186‌

316,010‌

298,688‌

Custody

and

accounting

fees

445,236‌

157,375‌

85,274‌

116,246‌

20,138‌

Administrative

service

fees

199,778‌

122,335‌

89,540‌

83,769‌

28,807‌

Trustee

fees

and

expenses

143,265‌

70,747‌

46,162‌

34,794‌

1,820‌

Professional

fees

65,260‌

42,044‌

33,389‌

33,246‌

18,111‌

Registration

fees

48,867‌

36,317‌

59,810‌

39,679‌

26,900‌

Other

expenses

150,269‌

146,351‌

991,993‌

63,744‌

21,543‌

Total

expenses

8,633,299‌

15,093,653‌

13,352,595‌

8,090,081‌

775,245‌

Less:

Expenses

reimbursed

by

the

investment

adviser

(3,914,162‌)

(6,046,854‌)

(13,431‌)

(4,010,995‌)

(53,149‌)

Less:

Fee

waiver

by

investment

adviser

and

Nuveen

Securities

–‌

–‌

(400,763‌)

–‌

–‌

Net

expenses

4,719,137‌

9,046,799‌

12,938,401‌

4,079,086‌

722,096‌

Net

investment

income

(loss)

244,574,374‌

147,587,065‌

86,003,271‌

83,603,773‌

2,705,873‌

NET

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

ON

TOTAL

INVESTMENTS

Realized

gain

(loss):

Portfolio

investments

(101,851,369‌)

(266,031,795‌)

(175,236,226‌)

(140,578,727‌)

39,503‌

Futures

contracts

–‌

1,548,124‌

–‌

1,539,649‌

–‌

Swap

contracts

–‌

2,543,635‌

–‌

1,632,218‌

–‌

Foreign

currency

transactions

–‌

(226,850‌)

(36,205‌)

(489,578‌)

–‌

Net

realized

gain

(loss)

on

total

investments

(101,851,369‌)

(262,166,886‌)

(175,272,431‌)

(137,896,438‌)

39,503‌

Change

in

unrealized

appreciation

(depreciation)

on:

Portfolio

investments

‡

(2,116,669,668‌)

(881,608,972‌)

(567,670,852‌)

(451,671,226‌)

(19,230,979‌)

Futures

contracts

–‌

(704,232‌)

–‌

(700,276‌)

–‌

Swap

contracts

–‌

2,224,725‌

–‌

2,417,216‌

–‌

Translation

of

assets

(other

than

portfolio

investments)

and

liabilities

denominated

in

foreign

currencies

–‌

(25,886‌)

(27,845‌)

(11,293‌)

–‌

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(2,116,669,668‌)

(880,114,365‌)

(567,698,697‌)

(449,965,579‌)

(19,230,979‌)

Net

realized

and

unrealized

gain

(loss)

on

total

investments

(2,218,521,037‌)

(1,142,281,251‌)

(742,971,128‌)

(587,862,017‌)

(19,191,476‌)

Net

increase

(decrease)

in

net

assets

from

operations

$

(1,973,946,663‌)

$

(994,694,186‌)

$

(656,967,857‌)

$

(504,258,244‌)

$

(16,485,603‌)

*  

Net

of

foreign

withholding

taxes

of

$

–‌

$

23,974‌

$

22,772‌

$

33,391‌

$

–‌

‡

Includes

net

change

in

unrealized

foreign

capital

gains

taxes

$

–‌

$

10,158‌

$

–‌

$

–‌

$

–‌

See

notes

to

financial

statements

363

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

concluded

8.6

Green

Bond

Fund

8.7

High-Yield

Fund

8.8

Inflation-Linked

Bond

Fund

8.9

Short

Duration

Impact

Bond

Fund

9.01

Short-Term

Bond

Fund

9.1

Short-Term

Bond

Index

Fund

9.2

Money

Market

Fund

$

38,117‌

$

174,566‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

1,854,915‌

78,371,361‌

148,843,481‌

622,321‌

26,735,588‌

8,071,207‌

9,980,179‌

4,255‌

177,899‌

3,796‌

14,342‌

210,432‌

70,573‌

–‌

1,897,287‌

78,723,826‌

148,847,277‌

636,663‌

26,946,020‌

8,141,780‌

9,980,179‌

218,794‌

4,682,570‌

3,553,135‌

72,683‌

2,344,233‌

384,851‌

731,721‌

53‌

3,149‌

737‌

31‌

594‌

220‌

460‌

4,946‌

5,668‌

70,990‌

2,643‌

89,657‌

449‌

196‌

3‌

21‌

10‌

4‌

6‌

5‌

27‌

18,214‌

301,070‌

204,580‌

7,893‌

160,222‌

422,293‌

328,945‌

1,156‌

51,801‌

44,253‌

(444‌)

36,789‌

176‌

125,873‌

–‌

439‌

1,094‌

–‌

452‌

646‌

–‌

710‌

12,241‌

2,019‌

727‌

2,850‌

349‌

22,759‌

9,058‌

286,662‌

181,762‌

3,849‌

169,799‌

3,490‌

359,634‌

18,782‌

28,841‌

17,910‌

14,145‌

30,653‌

37,373‌

34,809‌

41,157‌

67,395‌

69,508‌

40,726‌

61,660‌

57,519‌

51,493‌

666‌

19,101‌

21,177‌

282‌

13,702‌

9,587‌

10,311‌

25,704‌

32,632‌

27,900‌

29,881‌

24,584‌

20,645‌

20,053‌

33,503‌

44,759‌

33,207‌

33,201‌

36,627‌

38,477‌

27,998‌

29,536‌

73,350‌

562‌

24,163‌

33,107‌

28,538‌

22,680‌

402,282‌

5,609,699‌

4,228,844‌

229,784‌

3,004,935‌

1,004,618‌

1,736,959‌

(147,132‌)

(804,613‌)

(2,093,556‌)

(132,467‌)

(1,214,984‌)

(394,462‌)

(250,155‌)

–‌

(206,007‌)

(295,889‌)

–‌

–‌

–‌

–‌

255,150‌

4,599,079‌

1,839,399‌

97,317‌

1,789,951‌

610,156‌

1,486,804‌

1,642,137‌

74,124,747‌

147,007,878‌

539,346‌

25,156,069‌

7,531,624‌

8,493,375‌

(1,117,457‌)

(90,984,713‌)

2,688,902‌

(392,110‌)

(15,685,403‌)

(11,998,537‌)

(345‌)

–‌

–‌

1,753,518‌

–‌

7,845,123‌

–‌

–‌

–‌

1,640,095‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

(1,117,457‌)

(89,344,618‌)

4,442,420‌

(392,110‌)

(7,840,280‌)

(11,998,537‌)

(345‌)

(12,279,756‌)

(296,928,978‌)

(365,758,969‌)

(1,183,617‌)

(56,491,741‌)

(25,246,832‌)

–‌

–‌

–‌

222,724‌

–‌

(335,956‌)

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

(12,279,756‌)

(296,928,978‌)

(365,536,245‌)

(1,183,617‌)

(56,827,697‌)

(25,246,832‌)

–‌

(13,397,213‌)

(386,273,596‌)

(361,093,825‌)

(1,575,727‌)

(64,667,977‌)

(37,245,369‌)

(345‌)

$

(11,755,076‌)

$

(312,148,849‌)

$

(214,085,947‌)

$

(1,036,381‌)

$

(39,511,908‌)

$

(29,713,745‌)

$

8,493,030‌

$

352‌

$

–‌

$

–‌

$

–‌

$

18,493‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

$

–‌

TIAA-CREF

Funds

For

the

period

or

year

ended

Statements

of

changes

in

net

assets

See

notes

to

financial

statements

364

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

8.1

Bond

Index

Fund

8.2

Core

Bond

Fund

September

30,

2022

March

31,

2022

September

30,

2022

March

31,

2022

(unaudited)

(unaudited)

OPERATIONS

Net

investment

income

(loss)

$

244,574,374‌

$

408,937,812‌

$

147,587,065‌

$

212,948,938‌

Net

realized

gain

(loss)

on

total

investments

(

101,851,369‌

)

23,344,776‌

(

262,166,886‌

)

(

101,819,121‌

)

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(

2,116,669,668‌

)

(

1,403,062,385‌

)

(

880,114,365‌

)

(

589,590,615‌

)

Net

increase

(decrease)

in

net

assets

from

operations

(

1,973,946,663‌

)

(

970,779,797‌

)

(

994,694,186‌

)

(

478,460,798‌

)

DISTRIBUTIONS

TO

SHAREHOLDERS

–‌

–‌

–‌

–‌

Institutional

Class

Institutional

Class

(

110,159,718‌

)

(

208,247,780‌

)

(

64,210,090‌

)

(

96,995,836‌

)

Advisor

Class

Advisor

Class

(

188,328‌

)

(

354,502‌

)

(

12,761,077‌

)

(

17,620,027‌

)

Premier

Class

Premier

Class

(

281,830‌

)

(

554,021‌

)

(

85,721‌

)

(

175,573‌

)

Retirement

Class

Retirement

Class

(

6,346,358‌

)

(

12,042,446‌

)

(

1,957,303‌

)

(

4,069,945‌

)

Retail

Class

Retail

Class

(

315,872‌

)

(

614,171‌

)

(

1,116,466‌

)

(

2,156,303‌

)

Class

W

Class

W

(

127,259,790‌

)

(

223,734,617‌

)

(

67,015,336‌

)

(

134,602,915‌

)

Total

distributions

(

244,551,896‌

)

(

445,547,537‌

)

(

147,145,993‌

)

(

255,620,599‌

)

SHAREHOLDER

TRANSACTIONS

Subscriptions:

Institutional

Class

586,070,172‌

2,112,827,292‌

714,457,922‌

2,445,946,433‌

Advisor

Class

Advisor

Class

5,978,379‌

4,266,066‌

54,273,271‌

480,105,858‌

Premier

Class

Premier

Class

2,670,771‌

5,123,684‌

480,206‌

1,068,890‌

Retirement

Class

Retirement

Class

15,661,187‌

92,780,250‌

1,716,305‌

8,663,953‌

Retail

Class

Retail

Class

2,052,667‌

4,745,659‌

1,642,130‌

5,955,198‌

Class

W

Class

W

1,193,715,637‌

3,357,517,205‌

296,048,404‌

1,061,391,722‌

Reinvestments

of

distributions:

Institutional

Class

107,730,156‌

203,470,219‌

55,079,170‌

82,147,693‌

Advisor

Class

Advisor

Class

187,269‌

352,433‌

12,454,424‌

16,900,067‌

Premier

Class

Premier

Class

281,830‌

554,021‌

82,423‌

173,433‌

Retirement

Class

Retirement

Class

6,345,359‌

12,040,007‌

1,957,171‌

4,051,405‌

Retail

Class

Retail

Class

308,226‌

593,498‌

1,044,841‌

2,036,844‌

Class

W

Class

W

2‌

18,427,117‌

2‌

20,547,704‌

Redemptions:

Institutional

Class

(

765,359,419‌

)

(

1,695,988,968‌

)

(

496,095,776‌

)

(

534,829,199‌

)

Advisor

Class

Advisor

Class

(

1,520,520‌

)

(

8,233,530‌

)

(

79,852,560‌

)

(

203,549,018‌

)

Premier

Class

Premier

Class

(

2,616,463‌

)

(

7,078,433‌

)

(

626,862‌

)

(

5,907,388‌

)

Retirement

Class

Retirement

Class

(

31,469,597‌

)

(

46,896,788‌

)

(

12,436,741‌

)

(

50,012,214‌

)

Retail

Class

Retail

Class

(

2,856,735‌

)

(

7,240,195‌

)

(

6,644,084‌

)

(

15,678,604‌

)

Class

W

Class

W

(

1,162,915,919‌

)

(

1,023,012,459‌

)

(

746,934,866‌

)

(

873,628,917‌

)

Net

increase

(decrease)

from

shareholder

transactions

(

45,736,998‌

)

3,024,247,078‌

(

203,354,620‌

)

2,445,383,860‌

Net

increase

(decrease)

in

net

assets

(

2,264,235,557‌

)

1,607,919,744‌

(

1,345,194,799‌

)

1,711,302,463‌

NET

ASSETS

Beginning

of

period

21,127,166,864‌

19,519,247,120‌

10,414,525,626‌

8,703,223,163‌

End

of

period

$

18,862,931,307‌

$

21,127,166,864‌

$

9,069,330,827‌

$

10,414,525,626‌

CHANGE

IN

FUND

SHARES

Shares

sold:

Institutional

Class

59,048,934‌

189,526,616‌

75,681,565‌

227,682,896‌

Advisor

Class

Advisor

Class

603,199‌

379,444‌

5,739,263‌

45,916,611‌

Premier

Class

Premier

Class

268,363‌

459,481‌

50,852‌

100,275‌

Retirement

Class

Retirement

Class

1,570,304‌

8,265,033‌

178,419‌

797,568‌

Retail

Class

Retail

Class

205,665‌

423,818‌

170,483‌

547,161‌

Class

W

Class

W

118,900,283‌

302,233,416‌

31,044,465‌

99,608,174‌

Shares

reinvested:

Institutional

Class

10,924,525‌

18,317,356‌

5,893,867‌

7,754,826‌

Advisor

Class

Advisor

Class

19,011‌

31,646‌

1,331,259‌

1,595,027‌

Premier

Class

Premier

Class

28,581‌

49,836‌

8,814‌

16,303‌

Retirement

Class

Retirement

Class

643,160‌

1,083,222‌

205,432‌

374,109‌

Retail

Class

Retail

Class

31,238‌

53,401‌

109,789‌

188,498‌

Class

W

Class

W

–‌

1,649,697‌

–‌

1,929,362‌

Shares

redeemed:

Institutional

Class

(

77,485,412‌

)

(

152,285,733‌

)

(

52,883,495‌

)

(

50,404,510‌

)

Advisor

Class

Advisor

Class

(

154,111‌

)

(

735,425‌

)

(

8,474,356‌

)

(

19,072,603‌

)

Premier

Class

Premier

Class

(

263,908‌

)

(

636,705‌

)

(

66,732‌

)

(

548,519‌

)

Retirement

Class

Retirement

Class

(

3,172,301‌

)

(

4,235,411‌

)

(

1,292,505‌

)

(

4,607,806‌

)

Retail

Class

Retail

Class

(

287,654‌

)

(

647,527‌

)

(

692,694‌

)

(

1,444,857‌

)

Class

W

Class

W

(

119,014,480‌

)

(

91,976,423‌

)

(

80,266,562‌

)

(

83,035,262‌

)

Net

increase

(decrease)

from

shareholder

transactions

(

8,134,603‌

)

271,955,742‌

(

23,262,136‌

)

227,397,253‌

See

notes

to

financial

statements

365

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

8.3

Core

Impact

Bond

Fund

8.4

Core

Plus

Bond

Fund

8.5

5–15

Year

Laddered

Tax-Exempt

Bond

Fund

8.6

Green

Bond

Fund

September

30,

2022

March

31,

2022

September

30,

2022

March

31,

2022

September

30,

2022

March

31,

2022

September

30,

2022

March

31,

2022

(unaudited)

(unaudited)

(unaudited)

(unaudited)

$

86,003,271‌

$

115,840,036‌

$

83,603,773‌

$

146,801,434‌

$

2,705,873‌

$

5,295,937‌

$

1,642,137‌

$

1,324,470‌

(

175,272,431‌

)

(

49,566,586‌

)

(

137,896,438‌

)

(

53,325,663‌

)

39,503‌

930,288‌

(

1,117,457‌

)

149,151‌

(

567,698,697‌

)

(

377,612,858‌

)

(

449,965,579‌

)

(

294,544,951‌

)

(

19,230,979‌

)

(

22,198,019‌

)

(

12,279,756‌

)

(

4,539,784‌

)

(

656,967,857‌

)

(

311,339,408‌

)

(

504,258,244‌

)

(

201,069,180‌

)

(

16,485,603‌

)

(

15,971,794‌

)

(

11,755,076‌

)

(

3,066,163‌

)

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

(

58,154,067‌

)

(

80,690,084‌

)

(

24,034,544‌

)

(

62,581,377‌

)

(

207,991‌

)

(

446,575‌

)

(

1,113,004‌

)

(

892,239‌

)

(

19,836,924‌

)

(

25,282,854‌

)

(

2,184,325‌

)

(

7,017,069‌

)

(

7,460‌

)

(

20,639‌

)

(

209,657‌

)

(

72,434‌

)

(

321,602‌

)

(

462,657‌

)

(

105,543‌

)

(

272,353‌

)

–‌

–‌

(

13,560‌

)

(

27,667‌

)

(

4,262,469‌

)

(

6,522,485‌

)

(

4,493,558‌

)

(

13,038,334‌

)

–‌

–‌

(

207,178‌

)

(

404,717‌

)

(

3,631,471‌

)

(

5,016,488‌

)

(

3,768,367‌

)

(

10,395,434‌

)

(

2,490,246‌

)

(

6,804,183‌

)

(

99,124‌

)

(

175,781‌

)

–‌

–‌

(

48,398,137‌

)

(

129,048,899‌

)

–‌

–‌

–‌

–‌

(

86,206,533‌

)

(

117,974,568‌

)

(

82,984,474‌

)

(

222,353,466‌

)

(

2,705,697‌

)

(

7,271,397‌

)

(

1,642,523‌

)

(

1,572,838‌

)

701,391,288‌

1,591,788,180‌

135,784,241‌

282,998,528‌

386,989‌

13,932,708‌

2,247,348‌

53,696,406‌

358,819,304‌

705,513,239‌

16,111,152‌

27,228,319‌

47,696‌

191,290‌

44,767,331‌

2,652,409‌

3,540,682‌

9,603,394‌

353,528‌

3,076,874‌

–‌

–‌

–‌

–‌

1,875,762‌

15,472,585‌

1,851,887‌

11,063,875‌

–‌

–‌

900,395‌

5,839,879‌

21,090,007‌

109,467,091‌

3,776,687‌

12,091,991‌

4,945,309‌

19,294,061‌

764,348‌

3,793,902‌

–‌

–‌

161,625,493‌

550,548,781‌

–‌

–‌

–‌

–‌

44,990,783‌

62,443,067‌

11,666,644‌

41,731,211‌

207,743‌

445,941‌

107,648‌

190,973‌

13,104,010‌

16,580,830‌

1,054,012‌

3,722,630‌

6,412‌

17,936‌

194,979‌

42,447‌

238,565‌

351,963‌

102,198‌

264,803‌

–‌

–‌

–‌

–‌

4,260,189‌

6,520,673‌

4,493,551‌

13,038,332‌

–‌

–‌

193,684‌

377,036‌

3,540,822‌

4,881,184‌

3,524,139‌

9,756,413‌

2,266,407‌

6,232,653‌

83,684‌

148,546‌

–‌

–‌

26‌

43,462,435‌

–‌

–‌

–‌

–‌

(

913,436,316‌

)

(

889,639,989‌

)

(

186,174,749‌

)

(

250,764,415‌

)

(

714,093‌

)

(

2,588,323‌

)

(

1,078,536‌

)

(

1,648,435‌

)

(

297,042,289‌

)

(

384,266,995‌

)

(

44,657,209‌

)

(

62,966,992‌

)

(

57,434‌

)

(

130,320‌

)

(

1,309,877‌

)

(

752,034‌

)

(

4,494,804‌

)

(

14,176,961‌

)

(

932,452‌

)

(

3,638,794‌

)

–‌

–‌

–‌

–‌

(

39,756,167‌

)

(

88,379,282‌

)

(

32,955,363‌

)

(

69,142,717‌

)

–‌

–‌

(

1,467,535‌

)

(

3,737,516‌

)

(

57,536,796‌

)

(

67,680,772‌

)

(

13,854,401‌

)

(

31,603,966‌

)

(

11,948,416‌

)

(

27,870,360‌

)

(

570,537‌

)

(

2,323,458‌

)

–‌

–‌

(

387,583,109‌

)

(

471,156,238‌

)

–‌

–‌

–‌

–‌

(

159,414,960‌

)

1,078,478,207‌

(

325,813,725‌

)

109,711,070‌

(

4,859,387‌

)

9,525,586‌

44,832,932‌

58,280,155‌

(

902,589,350‌

)

649,164,231‌

(

913,056,443‌

)

(

313,711,576‌

)

(

24,050,687‌

)

(

13,717,605‌

)

31,435,333‌

53,641,154‌

6,914,773,817‌

6,265,609,586‌

5,251,112,461‌

5,564,824,037‌

267,065,783‌

280,783,388‌

104,443,509‌

50,802,355‌

$

6,012,184,467‌

$

6,914,773,817‌

$

4,338,056,018‌

$

5,251,112,461‌

$

243,015,096‌

$

267,065,783‌

$

135,878,842‌

$

104,443,509‌

75,017,302‌

151,786,310‌

14,394,035‌

26,225,893‌

40,000‌

1,271,551‌

237,963‌

5,289,428‌

38,568,012‌

67,113,419‌

1,701,951‌

2,527,153‌

4,953‌

17,554‌

4,741,895‌

249,962‌

378,596‌

915,726‌

37,431‌

283,317‌

–‌

–‌

–‌

–‌

200,087‌

1,474,770‌

197,890‌

1,019,620‌

–‌

–‌

95,830‌

547,966‌

2,255,358‌

10,401,369‌

395,729‌

1,119,092‌

507,039‌

1,774,246‌

79,880‌

357,423‌

–‌

–‌

16,910,687‌

51,157,205‌

–‌

–‌

–‌

–‌

4,854,129‌

5,963,182‌

1,245,588‌

3,892,646‌

21,461‌

41,410‌

11,520‌

18,022‌

1,413,456‌

1,583,083‌

112,250‌

346,662‌

663‌

1,659‌

21,471‌

4,032‌

25,733‌

33,555‌

10,909‌

24,697‌

–‌

–‌

–‌

–‌

459,364‌

621,669‌

478,898‌

1,213,379‌

–‌

–‌

20,694‌

35,573‌

382,145‌

466,513‌

375,609‌

908,398‌

233,851‌

575,807‌

8,945‌

14,016‌

–‌

–‌

3‌

4,058,117‌

–‌

–‌

–‌

–‌

(

97,668,271‌

)

(

85,052,838‌

)

(

19,815,872‌

)

(

23,322,023‌

)

(

73,628‌

)

(

239,969‌

)

(

112,493‌

)

(

154,479‌

)

(

31,758,435‌

)

(

36,881,498‌

)

(

4,703,164‌

)

(

5,880,061‌

)

(

5,885‌

)

(

12,295‌

)

(

142,576‌

)

(

73,011‌

)

(

480,595‌

)

(

1,347,412‌

)

(

98,479‌

)

(

332,903‌

)

–‌

–‌

–‌

–‌

(

4,253,511‌

)

(

8,404,221‌

)

(

3,473,716‌

)

(

6,416,591‌

)

–‌

–‌

(

155,310‌

)

(

352,412‌

)

(

6,186,017‌

)

(

6,497,269‌

)

(

1,462,369‌

)

(

2,939,844‌

)

(

1,228,296‌

)

(

2,583,713‌

)

(

60,394‌

)

(

217,840‌

)

–‌

–‌

(

41,753,321‌

)

(

44,292,975‌

)

–‌

–‌

–‌

–‌

(

16,792,647‌

)

102,176,358‌

(

35,445,941‌

)

9,591,782‌

(

499,842‌

)

846,250‌

4,747,425‌

5,718,680‌

Statements

of

changes

in

net

assets

TIAA-CREF

Funds

For

the

period

or

year

ended

See

notes

to

financial

statements

366

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

continued

continued

continued

8.7

High-Yield

Fund

8.8

Inflation-Linked

Bond

Fund

September

30,

2022

March

31,

2022

September

30,

2022

March

31,

2022

(unaudited)

(unaudited)

OPERATIONS

Net

investment

income

(loss)

$

74,124,747‌

$

166,191,887‌

$

147,007,878‌

$

221,719,100‌

Net

realized

gain

(loss)

on

total

investments

(

89,344,618‌

)

86,911,052‌

4,442,420‌

42,877,793‌

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(

296,928,978‌

)

(

241,246,671‌

)

(

365,536,245‌

)

(

135,905,541‌

)

Net

increase

(decrease)

in

net

assets

from

operations

(

312,148,849‌

)

11,856,268‌

(

214,085,947‌

)

128,691,352‌

DISTRIBUTIONS

TO

SHAREHOLDERS

–‌

–‌

–‌

–‌

Institutional

Class

Institutional

Class

(

48,489,812‌

)

(

115,686,867‌

)

(

28,790,772‌

)

(

82,578,435‌

)

Advisor

Class

Advisor

Class

(

234,956‌

)

(

501,535‌

)

(

6,587,591‌

)

(

11,209,249‌

)

Premier

Class

Premier

Class

(

433,172‌

)

(

784,909‌

)

(

122,818‌

)

(

274,151‌

)

Retirement

Class

Retirement

Class

(

6,254,370‌

)

(

12,854,349‌

)

(

7,109,325‌

)

(

11,894,929‌

)

Retail

Class

Retail

Class

(

5,909,718‌

)

(

11,904,390‌

)

(

6,467,609‌

)

(

10,795,889‌

)

Class

W

Class

W

(

13,572,693‌

)

(

24,359,294‌

)

(

85,107,618‌

)

(

137,874,837‌

)

Total

distributions

(

74,894,721‌

)

(

166,091,344‌

)

(

134,185,733‌

)

(

254,627,490‌

)

SHAREHOLDER

TRANSACTIONS

Subscriptions:

Institutional

Class

445,444,508‌

674,281,036‌

31,165,627‌

400,704,270‌

Advisor

Class

Advisor

Class

1,366,534‌

14,838,791‌

16,998,669‌

82,186,117‌

Premier

Class

Premier

Class

9,208,930‌

8,734,126‌

358,828‌

941,188‌

Retirement

Class

Retirement

Class

2,927,379‌

9,155,129‌

4,272,117‌

12,103,682‌

Retail

Class

Retail

Class

47,654,087‌

72,121,039‌

10,592,501‌

33,081,005‌

Class

W

Class

W

206,955,279‌

77,328,318‌

167,912,609‌

482,791,040‌

Reinvestments

of

distributions:

Institutional

Class

39,417,687‌

96,639,412‌

26,300,954‌

78,861,863‌

Advisor

Class

Advisor

Class

217,215‌

470,651‌

4,303,245‌

6,626,751‌

Premier

Class

Premier

Class

428,845‌

783,999‌

122,817‌

274,151‌

Retirement

Class

Retirement

Class

6,254,199‌

12,854,037‌

7,109,325‌

11,894,929‌

Retail

Class

Retail

Class

5,467,642‌

11,030,284‌

5,877,230‌

9,778,871‌

Class

W

Class

W

16‌

–‌

–‌

20,927,325‌

Redemptions:

Institutional

Class

(

882,069,639‌

)

(

1,219,453,793‌

)

(

266,116,214‌

)

(

779,682,189‌

)

Advisor

Class

Advisor

Class

(

2,333,838‌

)

(

13,234,349‌

)

(

33,313,361‌

)

(

46,780,317‌

)

Premier

Class

Premier

Class

(

8,841,729‌

)

(

13,254,502‌

)

(

245,650‌

)

(

6,737,950‌

)

Retirement

Class

Retirement

Class

(

22,253,786‌

)

(

50,723,672‌

)

(

15,757,919‌

)

(

24,409,197‌

)

Retail

Class

Retail

Class

(

63,329,210‌

)

(

98,869,829‌

)

(

24,818,595‌

)

(

30,287,662‌

)

Class

W

Class

W

(

60,364,282‌

)

(

74,950,194‌

)

(

167,878,846‌

)

(

276,054,899‌

)

Net

increase

(decrease)

from

shareholder

transactions

(

273,850,163‌

)

(

492,249,517‌

)

(

233,116,663‌

)

(

23,781,022‌

)

Net

increase

(decrease)

in

net

assets

(

660,893,733‌

)

(

646,484,593‌

)

(

581,388,343‌

)

(

149,717,160‌

)

NET

ASSETS

Beginning

of

period

3,137,912,986‌

3,784,397,579‌

3,267,757,610‌

3,417,474,770‌

End

of

period

$

2,477,019,253‌

$

3,137,912,986‌

$

2,686,369,267‌

$

3,267,757,610‌

CHANGE

IN

FUND

SHARES

Shares

sold:

Institutional

Class

52,342,127‌

70,869,100‌

2,703,188‌

32,041,978‌

Advisor

Class

Advisor

Class

160,474‌

1,552,889‌

1,490,803‌

6,648,241‌

Premier

Class

Premier

Class

1,100,213‌

908,328‌

31,253‌

75,773‌

Retirement

Class

Retirement

Class

345,981‌

960,507‌

371,745‌

973,854‌

Retail

Class

Retail

Class

5,586,437‌

7,557,314‌

954,792‌

2,759,679‌

Class

W

Class

W

24,154,857‌

8,119,739‌

14,803,962‌

39,229,722‌

Shares

reinvested:

Institutional

Class

4,686,067‌

10,171,227‌

2,410,874‌

6,478,026‌

Advisor

Class

Advisor

Class

25,876‌

49,691‌

394,791‌

544,858‌

Premier

Class

Premier

Class

51,106‌

82,400‌

11,280‌

22,516‌

Retirement

Class

Retirement

Class

744,751‌

1,352,770‌

646,137‌

969,635‌

Retail

Class

Retail

Class

648,353‌

1,156,232‌

554,864‌

826,365‌

Class

W

Class

W

2‌

–‌

–‌

1,733,830‌

Shares

redeemed:

Institutional

Class

(

104,301,937‌

)

(

128,982,059‌

)

(

23,021,792‌

)

(

64,172,715‌

)

Advisor

Class

Advisor

Class

(

275,386‌

)

(

1,404,163‌

)

(

2,940,631‌

)

(

3,812,180‌

)

Premier

Class

Premier

Class

(

1,061,190‌

)

(

1,375,854‌

)

(

21,720‌

)

(

547,879‌

)

Retirement

Class

Retirement

Class

(

2,618,155‌

)

(

5,332,048‌

)

(

1,368,117‌

)

(

1,968,262‌

)

Retail

Class

Retail

Class

(

7,386,020‌

)

(

10,347,179‌

)

(

2,221,676‌

)

(

2,530,078‌

)

Class

W

Class

W

(

7,224,422‌

)

(

7,962,680‌

)

(

14,605,412‌

)

(

22,441,483‌

)

Net

increase

(decrease)

from

shareholder

transactions

(

33,020,866‌

)

(

52,623,786‌

)

(

19,805,659‌

)

(

3,168,120‌

)

See

notes

to

financial

statements

367

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

concluded

8.9

Short

Duration

Impact

Bond

Fund

9.01

Short-Term

Bond

Fund

9.1

Short-Term

Bond

Index

Fund

9.2

Money

Market

Fund

September

30,

2022

March

31,

2022

September

30,

2022

March

31,

2022

September

30,

2022

March

31,

2022

September

30,

2022

March

31,

2022

(unaudited)

(unaudited)

(unaudited)

(unaudited)

$

539,346‌

$

511,455‌

$

25,156,069‌

$

33,821,083‌

$

7,531,624‌

$

6,986,776‌

$

8,493,375‌

$

–‌

(

392,110‌

)

(

41,981‌

)

(

7,840,280‌

)

1,881,607‌

(

11,998,537‌

)

1,993,496‌

(

345‌

)

1,683‌

(

1,183,617‌

)

(

1,354,182‌

)

(

56,827,697‌

)

(

66,599,824‌

)

(

25,246,832‌

)

(

49,417,730‌

)

–‌

–‌

(

1,036,381‌

)

(

884,708‌

)

(

39,511,908‌

)

(

30,897,134‌

)

(

29,713,745‌

)

(

40,437,458‌

)

8,493,030‌

1,683‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

–‌

(

323,843‌

)

(

487,844‌

)

(

6,803,593‌

)

(

8,764,650‌

)

(

413,453‌

)

(

731,470‌

)

(

5,442,168‌

)

–‌

(

110,619‌

)

(

52,828‌

)

(

2,357,144‌

)

(

3,737,945‌

)

(

3,878‌

)

(

5,068‌

)

(

5,498‌

)

–‌

(

10,022‌

)

(

18,443‌

)

(

45,787‌

)

(

54,059‌

)

(

2,040‌

)

(

5,320‌

)

(

173,635‌

)

–‌

(

62,131‌

)

(

84,359‌

)

(

1,482,073‌

)

(

1,858,391‌

)

(

1,475,235‌

)

(

1,789,546‌

)

(

1,511,094‌

)

–‌

(

31,373‌

)

(

37,989‌

)

(

1,525,381‌

)

(

2,180,067‌

)

(

11,688‌

)

(

21,204‌

)

(

1,360,059‌

)

–‌

–‌

–‌

(

12,910,937‌

)

(

19,622,894‌

)

(

5,625,058‌

)

(

9,740,076‌

)

–‌

–‌

(

537,988‌

)

(

681,463‌

)

(

25,124,915‌

)

(

36,218,006‌

)

(

7,531,352‌

)

(

12,292,684‌

)

(

8,492,454‌

)

–‌

11,211,872‌

2,304,271‌

157,013,757‌

150,461,529‌

5,903,777‌

13,726,940‌

198,286,700‌

483,709,427‌

12,029,924‌

4,606,995‌

29,185,717‌

91,689,510‌

366,976‌

418,499‌

121,445‌

322,145‌

–‌

–‌

442,710‌

850,249‌

19,693‌

192,328‌

15,248,801‌

31,230,445‌

1,724,444‌

2,645,875‌

30,128,461‌

11,128,696‌

58,789,316‌

139,839,342‌

100,332,416‌

144,709,833‌

1,273,176‌

535,350‌

3,389,163‌

8,022,273‌

169,403‌

308,003‌

46,552,846‌

102,767,008‌

–‌

–‌

66,751,995‌

204,621,279‌

107,403,489‌

308,302,866‌

–‌

–‌

96,484‌

67,525‌

3,969,269‌

5,451,998‌

413,406‌

731,227‌

5,424,994‌

–‌

100,084‌

33,172‌

1,283,553‌

2,125,853‌

3,396‌

4,237‌

4,898‌

–‌

–‌

–‌

45,787‌

54,059‌

890‌

3,357‌

173,567‌

–‌

52,594‌

66,626‌

1,482,073‌

1,858,391‌

1,475,225‌

1,789,505‌

1,511,094‌

–‌

21,564‌

20,373‌

1,417,418‌

2,031,441‌

11,434‌

20,924‌

1,335,145‌

–‌

–‌

–‌

–‌

1,208,893‌

–‌

3,891,220‌

–‌

–‌

(

1,731,233‌

)

(

773,688‌

)

(

94,751,020‌

)

(

282,035,075‌

)

(

9,640,929‌

)

(

10,842,931‌

)

(

175,170,765‌

)

(

408,503,941‌

)

(

862,650‌

)

(

691,403‌

)

(

99,953,195‌

)

(

81,160,217‌

)

(

159,170‌

)

(

304,566‌

)

(

246,649‌

)

(

372,778‌

)

–‌

–‌

(

480,425‌

)

(

246,675‌

)

(

325,142‌

)

(

143,207‌

)

(

12,299,695‌

)

(

39,495,914‌

)

(

1,065,380‌

)

(

1,551,244‌

)

(

9,917,464‌

)

(

33,010,354‌

)

(

73,538‌

)

(

656,564‌

)

(

57,983,685‌

)

(

168,970,415‌

)

(

258,500‌

)

(

436,263‌

)

(

14,023,865‌

)

(

23,544,303‌

)

(

475,062‌

)

(

1,690,466‌

)

(

54,214,971‌

)

(

124,750,417‌

)

–‌

–‌

(

152,934,091‌

)

(

155,160,597‌

)

(

134,299,921‌

)

(

106,988,915‌

)

–‌

–‌

22,592,379‌

6,827,589‌

(

76,950,157‌

)

(

95,653,050‌

)

29,583,243‌

348,601,799‌

69,076,141‌

20,645,393‌

21,018,010‌

5,261,418‌

(

141,586,980‌

)

(

162,768,190‌

)

(

7,661,854‌

)

295,871,657‌

69,076,717‌

20,647,076‌

38,257,909‌

32,996,491‌

1,996,717,917‌

2,159,486,107‌

1,361,698,249‌

1,065,826,592‌

1,450,391,018‌

1,429,743,942‌

$

59,275,919‌

$

38,257,909‌

$

1,855,130,937‌

$

1,996,717,917‌

$

1,354,036,395‌

$

1,361,698,249‌

$

1,519,467,735‌

$

1,450,391,018‌

1,161,174‌

226,753‌

15,785,780‌

14,534,510‌

614,574‌

1,371,419‌

198,286,700‌

483,709,427‌

1,248,205‌

456,273‌

2,933,223‌

8,821,301‌

38,336‌

42,316‌

121,445‌

322,145‌

–‌

–‌

44,149‌

81,408‌

2,051‌

19,057‌

15,248,801‌

31,230,445‌

178,016‌

261,882‌

3,011,022‌

1,066,147‌

6,105,484‌

13,960,449‌

100,332,416‌

144,709,833‌

130,848‌

52,941‌

340,226‌

769,209‌

17,613‌

30,707‌

46,552,846‌

102,767,009‌

–‌

–‌

6,681,532‌

19,626,031‌

11,130,416‌

30,713,554‌

–‌

–‌

10,036‌

6,669‌

398,662‌

524,796‌

43,044‌

73,122‌

5,424,994‌

—‌

10,408‌

3,294‌

128,734‌

204,951‌

354‌

424‌

4,898‌

–‌

–‌

–‌

4,593‌

5,204‌

93‌

336‌

173,567‌

–‌

5,459‌

6,576‌

148,700‌

178,732‌

153,780‌

179,190‌

1,511,094‌

–‌

2,240‌

2,009‌

142,224‌

195,570‌

1,192‌

2,094‌

1,335,145‌

–‌

–‌

–‌

–‌

116,576‌

–‌

389,902‌

–‌

–‌

(

179,922‌

)

(

76,880‌

)

(

9,479,133‌

)

(

26,994,601‌

)

(

1,000,596‌

)

(

1,079,681‌

)

(

175,170,764‌

)

(

408,503,941‌

)

(

89,459‌

)

(

69,159‌

)

(

10,017,545‌

)

(

7,800,862‌

)

(

16,487‌

)

(

30,375‌

)

(

246,649‌

)

(

372,778‌

)

–‌

–‌

(

48,157‌

)

(

23,588‌

)

(

33,694‌

)

(

14,166‌

)

(

12,299,695‌

)

(

39,495,914‌

)

(

110,258‌

)

(

152,091‌

)

(

990,442‌

)

(

3,168,360‌

)

(

7,639‌

)

(

66,211‌

)

(

57,983,685‌

)

(

168,970,415‌

)

(

26,893‌

)

(

43,035‌

)

(

1,401,808‌

)

(

2,264,887‌

)

(

49,527‌

)

(

168,362‌

)

(

54,214,971‌

)

(

124,750,417‌

)

–‌

–‌

(

15,360,994‌

)

(

14,977,065‌

)

(

13,969,685‌

)

(

10,689,125‌

)

–‌

–‌

2,339,854‌

675,232‌

(

7,679,234‌

)

(

9,104,928‌

)

3,029,309‌

34,734,650‌

69,076,142‌

20,645,394‌

TIAA-CREF

Funds

Financial

highlights

See

notes

to

financial

statements

368

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

8.1

BOND

INDEX

FUND

Institutional

Class:

9/30/22

#

$

10

.44‌

$

0

.12‌

$

(

1

.08‌

)

$

(

0

.96‌

)

$

(

0

.12‌

)

$

—‌

$

(

0

.12‌

)

$

9

.36‌

3/31/22

11

.14‌

0

.21‌

(

0

.68‌

)

(

0

.47‌

)

(

0

.21‌

)

(

0

.02‌

)

(

0

.23‌

)

10

.44‌

3/31/21

11

.40‌

0

.24‌

(

0

.17‌

)

0

.07‌

(

0

.24‌

)

(

0

.09‌

)

(

0

.33‌

)

11

.14‌

3/31/20

10

.76‌

0

.29‌

0

.64‌

0

.93‌

(

0

.29‌

)

—‌

(

0

.29‌

)

11

.40‌

3/31/19

10

.58‌

0

.29‌

0

.18‌

0

.47‌

(

0

.29‌

)

—‌

(

0

.29‌

)

10

.76‌

3/31/18

10

.75‌

0

.26‌

(

0

.17‌

)

0

.09‌

(

0

.26‌

)

(

0

.00‌

)

d

(

0

.26‌

)

10

.58‌

Advisor

Class:

9/30/22

#

10

.44‌

0

.11‌

(

1

.08‌

)

(

0

.97‌

)

(

0

.11‌

)

—‌

(

0

.11‌

)

9

.36‌

3/31/22

11

.14‌

0

.20‌

(

0

.68‌

)

(

0

.48‌

)

(

0

.20‌

)

(

0

.02‌

)

(

0

.22‌

)

10

.44‌

3/31/21

11

.41‌

0

.23‌

(

0

.18‌

)

0

.05‌

(

0

.23‌

)

(

0

.09‌

)

(

0

.32‌

)

11

.14‌

3/31/20

10

.76‌

0

.27‌

0

.66‌

0

.93‌

(

0

.28‌

)

—‌

(

0

.28‌

)

11

.41‌

3/31/19

10

.59‌

0

.28‌

0

.17‌

0

.45‌

(

0

.28‌

)

—‌

(

0

.28‌

)

10

.76‌

3/31/18

10

.76‌

0

.25‌

(

0

.17‌

)

0

.08‌

(

0

.25‌

)

(

0

.00‌

)

d

(

0

.25‌

)

10

.59‌

Premier

Class:

9/30/22

#

10

.44‌

0

.11‌

(

1

.08‌

)

(

0

.97‌

)

(

0

.11‌

)

—‌

(

0

.11‌

)

9

.36‌

3/31/22

11

.14‌

0

.19‌

(

0

.68‌

)

(

0

.49‌

)

(

0

.19‌

)

(

0

.02‌

)

(

0

.21‌

)

10

.44‌

3/31/21

11

.40‌

0

.22‌

(

0

.16‌

)

0

.06‌

(

0

.23‌

)

(

0

.09‌

)

(

0

.32‌

)

11

.14‌

3/31/20

10

.76‌

0

.27‌

0

.64‌

0

.91‌

(

0

.27‌

)

—‌

(

0

.27‌

)

11

.40‌

3/31/19

10

.58‌

0

.27‌

0

.18‌

0

.45‌

(

0

.27‌

)

—‌

(

0

.27‌

)

10

.76‌

3/31/18

10

.75‌

0

.25‌

(

0

.17‌

)

0

.08‌

(

0

.25‌

)

(

0

.00‌

)

d

(

0

.25‌

)

10

.58‌

Retirement

Class:

9/30/22

#

10

.45‌

0

.11‌

(

1

.09‌

)

(

0

.98‌

)

(

0

.11‌

)

—‌

(

0

.11‌

)

9

.36‌

3/31/22

11

.15‌

0

.18‌

(

0

.68‌

)

(

0

.50‌

)

(

0

.18‌

)

(

0

.02‌

)

(

0

.20‌

)

10

.45‌

3/31/21

11

.41‌

0

.21‌

(

0

.17‌

)

0

.04‌

(

0

.21‌

)

(

0

.09‌

)

(

0

.30‌

)

11

.15‌

3/31/20

10

.77‌

0

.26‌

0

.64‌

0

.90‌

(

0

.26‌

)

—‌

(

0

.26‌

)

11

.41‌

3/31/19

10

.59‌

0

.26‌

0

.18‌

0

.44‌

(

0

.26‌

)

—‌

(

0

.26‌

)

10

.77‌

3/31/18

10

.75‌

0

.24‌

(

0

.16‌

)

0

.08‌

(

0

.24‌

)

(

0

.00‌

)

d

(

0

.24‌

)

10

.59‌

Retail

Class:

9/30/22

#

10

.45‌

0

.10‌

(

1

.09‌

)

(

0

.99‌

)

(

0

.10‌

)

—‌

(

0

.10‌

)

9

.36‌

3/31/22

11

.15‌

0

.18‌

(

0

.68‌

)

(

0

.50‌

)

(

0

.18‌

)

(

0

.02‌

)

(

0

.20‌

)

10

.45‌

3/31/21

11

.41‌

0

.21‌

(

0

.17‌

)

0

.04‌

(

0

.21‌

)

(

0

.09‌

)

(

0

.30‌

)

11

.15‌

3/31/20

10

.77‌

0

.25‌

0

.64‌

0

.89‌

(

0

.25‌

)

—‌

(

0

.25‌

)

11

.41‌

3/31/19

10

.59‌

0

.26‌

0

.18‌

0

.44‌

(

0

.26‌

)

—‌

(

0

.26‌

)

10

.77‌

3/31/18

10

.75‌

0

.23‌

(

0

.16‌

)

0

.07‌

(

0

.23‌

)

(

0

.00‌

)

d

(

0

.23‌

)

10

.59‌

Class

W:

9/30/22

#

10

.44‌

0

.12‌

(

1

.08‌

)

(

0

.96‌

)

(

0

.12‌

)

—‌

(

0

.12‌

)

9

.36‌

3/31/22

11

.15‌

0

.22‌

(

0

.69‌

)

(

0

.47‌

)

(

0

.22‌

)

(

0

.02‌

)

(

0

.24‌

)

10

.44‌

3/31/21

11

.41‌

0

.25‌

(

0

.16‌

)

0

.09‌

(

0

.26‌

)

(

0

.09‌

)

(

0

.35‌

)

11

.15‌

3/31/20

10

.76‌

0

.30‌

0

.65‌

0

.95‌

(

0

.30‌

)

—‌

(

0

.30‌

)

11

.41‌

3/31/19

†

10

.43‌

0

.16‌

0

.32‌

0

.48‌

(

0

.15‌

)

—‌

(

0

.15‌

)

10

.76‌

#

Unaudited

†

Class

W

commenced

operations

on

September

28,

2018.

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.

See

notes

to

financial

statements

369

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(

9

.26‌

)

%

b

$

8,607,266‌

0

.08‌

%

c

0

.08‌

%

c

2

.38‌

%

c

12‌

%

b

(

4

.32‌

)

9,680,082‌

0

.09‌

0

.09‌

1

.90‌

18‌

0

.46‌

9,712,952‌

0

.11‌

0

.11‌

2

.09‌

29‌

8

.83‌

10,054,559‌

0

.11‌

0

.11‌

2

.61‌

32‌

4

.55‌

6,445,380‌

0

.11‌

0

.11‌

2

.75‌

20‌

0

.89‌

9,558,420‌

0

.12‌

0

.12‌

2

.45‌

15‌

(

9

.30‌

)

b

17,091‌

0

.18‌

c

0

.18‌

c

2

.30‌

c

12‌

b

(

4

.41‌

)

14,176‌

0

.19‌

0

.19‌

1

.79‌

18‌

0

.36‌

18,746‌

0

.21‌

0

.21‌

1

.98‌

29‌

8

.73‌

17,005‌

0

.22‌

0

.22‌

2

.48‌

32‌

4

.33‌

1,139‌

0

.22‌

0

.22‌

2

.74‌

20‌

0

.78‌

282‌

0

.20‌

0

.20‌

2

.30‌

15‌

(

9

.33‌

)

b

23,361‌

0

.23‌

c

0

.23‌

c

2

.23‌

c

12‌

b

(

4

.46‌

)

25,715‌

0

.24‌

0

.24‌

1

.75‌

18‌

0

.40‌

28,867‌

0

.26‌

0

.26‌

1

.94‌

29‌

8

.58‌

25,927‌

0

.27‌

0

.27‌

2

.46‌

32‌

4

.39‌

21,379‌

0

.26‌

0

.26‌

2

.61‌

20‌

0

.74‌

33,640‌

0

.27‌

0

.27‌

2

.30‌

15‌

(

9

.46‌

)

b

554,458‌

0

.33‌

c

0

.33‌

c

2

.13‌

c

12‌

b

(

4

.55‌

)

628,526‌

0

.34‌

0

.34‌

1

.65‌

18‌

0

.30‌

613,853‌

0

.36‌

0

.36‌

1

.84‌

29‌

8

.46‌

449,368‌

0

.37‌

0

.37‌

2

.36‌

32‌

4

.29‌

258,787‌

0

.36‌

0

.36‌

2

.53‌

20‌

0

.73‌

179,875‌

0

.37‌

0

.37‌

2

.20‌

15‌

(

9

.49‌

)

b

28,192‌

0

.38‌

c

0

.38‌

c

2

.08‌

c

12‌

b

(

4

.61‌

)

31,980‌

0

.44‌

0

.40‌

1

.59‌

18‌

0

.24‌

36,033‌

0

.42‌

0

.42‌

1

.78‌

29‌

8

.39‌

29,641‌

0

.43‌

0

.43‌

2

.29‌

32‌

4

.20‌

21,544‌

0

.44‌

0

.44‌

2

.43‌

20‌

0

.66‌

20,927‌

0

.44‌

0

.44‌

2

.12‌

15‌

(

9

.22‌

)

b

9,632,563‌

0

.08‌

c

0.00‌

c

2

.46‌

c

12‌

b

(

4

.32‌

)

10,746,686‌

0

.09‌

0.00‌

2

.00‌

18‌

0

.66‌

9,108,797‌

0

.11‌

0.00‌

2

.19‌

29‌

8

.96‌

5,983,462‌

0

.11‌

0.00‌

2

.72‌

32‌

4

.69‌

b

4,605,482‌

0

.11‌

c

0.00‌

c

2

.97‌

c

20‌

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

370

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

8.2

CORE

BOND

FUND

Institutional

Class:

9/30/22

#

$

9

.97‌

$

0

.14‌

$

(

1

.09‌

)

$

(

0

.95‌

)

$

(

0

.14‌

)

$

—‌

$

(

0

.14‌

)

$

8

.88‌

3/31/22

10

.65‌

0

.21‌

(

0

.64‌

)

(

0

.43‌

)

(

0

.21‌

)

(

0

.04‌

)

(

0

.25‌

)

9

.97‌

3/31/21

10

.48‌

0

.25‌

0

.37‌

0

.62‌

(

0

.25‌

)

(

0

.20‌

)

(

0

.45‌

)

10

.65‌

3/31/20

10

.29‌

0

.30‌

0

.19‌

0

.49‌

(

0

.30‌

)

—‌

(

0

.30‌

)

10

.48‌

3/31/19

10

.18‌

0

.32‌

0

.11‌

0

.43‌

(

0

.32‌

)

—‌

(

0

.32‌

)

10

.29‌

3/31/18

10

.30‌

0

.31‌

(

0

.12‌

)

0

.19‌

(

0

.30‌

)

(

0

.01‌

)

(

0

.31‌

)

10

.18‌

Advisor

Class:

9/30/22

#

9

.98‌

0

.13‌

(

1

.09‌

)

(

0

.96‌

)

(

0

.13‌

)

—‌

(

0

.13‌

)

8

.89‌

3/31/22

10

.66‌

0

.20‌

(

0

.64‌

)

(

0

.44‌

)

(

0

.20‌

)

(

0

.04‌

)

(

0

.24‌

)

9

.98‌

3/31/21

10

.49‌

0

.24‌

0

.36‌

0

.60‌

(

0

.23‌

)

(

0

.20‌

)

(

0

.43‌

)

10

.66‌

3/31/20

10

.30‌

0

.29‌

0

.19‌

0

.48‌

(

0

.29‌

)

—‌

(

0

.29‌

)

10

.49‌

3/31/19

10

.18‌

0

.31‌

0

.12‌

0

.43‌

(

0

.31‌

)

—‌

(

0

.31‌

)

10

.30‌

3/31/18

10

.30‌

0

.30‌

(

0

.11‌

)

0

.19‌

(

0

.30‌

)

(

0

.01‌

)

(

0

.31‌

)

10

.18‌

Premier

Class:

9/30/22

#

9

.97‌

0

.13‌

(

1

.09‌

)

(

0

.96‌

)

(

0

.13‌

)

—‌

(

0

.13‌

)

8

.88‌

3/31/22

10

.65‌

0

.19‌

(

0

.64‌

)

(

0

.45‌

)

(

0

.19‌

)

(

0

.04‌

)

(

0

.23‌

)

9

.97‌

3/31/21

10

.49‌

0

.23‌

0

.36‌

0

.59‌

(

0

.23‌

)

(

0

.20‌

)

(

0

.43‌

)

10

.65‌

3/31/20

10

.30‌

0

.29‌

0

.18‌

0

.47‌

(

0

.28‌

)

—‌

(

0

.28‌

)

10

.49‌

3/31/19

10

.18‌

0

.31‌

0

.12‌

0

.43‌

(

0

.31‌

)

—‌

(

0

.31‌

)

10

.30‌

3/31/18

10

.30‌

0

.29‌

(

0

.11‌

)

0

.18‌

(

0

.29‌

)

(

0

.01‌

)

(

0

.30‌

)

10

.18‌

Retirement

Class:

9/30/22

#

10

.16‌

0

.13‌

(

1

.11‌

)

(

0

.98‌

)

(

0

.13‌

)

—‌

(

0

.13‌

)

9

.05‌

3/31/22

10

.85‌

0

.19‌

(

0

.65‌

)

(

0

.46‌

)

(

0

.19‌

)

(

0

.04‌

)

(

0

.23‌

)

10

.16‌

3/31/21

10

.67‌

0

.23‌

0

.37‌

0

.60‌

(

0

.22‌

)

(

0

.20‌

)

(

0

.42‌

)

10

.85‌

3/31/20

10

.48‌

0

.28‌

0

.19‌

0

.47‌

(

0

.28‌

)

—‌

(

0

.28‌

)

10

.67‌

3/31/19

10

.36‌

0

.30‌

0

.12‌

0

.42‌

(

0

.30‌

)

—‌

(

0

.30‌

)

10

.48‌

3/31/18

10

.49‌

0

.28‌

(

0

.12‌

)

0

.16‌

(

0

.28‌

)

(

0

.01‌

)

(

0

.29‌

)

10

.36‌

Retail

Class:

9/30/22

#

10

.15‌

0

.12‌

(

1

.11‌

)

(

0

.99‌

)

(

0

.12‌

)

—‌

(

0

.12‌

)

9

.04‌

3/31/22

10

.84‌

0

.18‌

(

0

.65‌

)

(

0

.47‌

)

(

0

.18‌

)

(

0

.04‌

)

(

0

.22‌

)

10

.15‌

3/31/21

10

.66‌

0

.22‌

0

.38‌

0

.60‌

(

0

.22‌

)

(

0

.20‌

)

(

0

.42‌

)

10

.84‌

3/31/20

10

.47‌

0

.28‌

0

.18‌

0

.46‌

(

0

.27‌

)

—‌

(

0

.27‌

)

10

.66‌

3/31/19

10

.35‌

0

.30‌

0

.12‌

0

.42‌

(

0

.30‌

)

—‌

(

0

.30‌

)

10

.47‌

3/31/18

10

.48‌

0

.28‌

(

0

.12‌

)

0

.16‌

(

0

.28‌

)

(

0

.01‌

)

(

0

.29‌

)

10

.35‌

Class

W:

9/30/22

#

9

.97‌

0

.15‌

(

1

.09‌

)

(

0

.94‌

)

(

0

.15‌

)

—‌

(

0

.15‌

)

8

.88‌

3/31/22

10

.65‌

0

.24‌

(

0

.64‌

)

(

0

.40‌

)

(

0

.24‌

)

(

0

.04‌

)

(

0

.28‌

)

9

.97‌

3/31/21

10

.48‌

0

.28‌

0

.37‌

0

.65‌

(

0

.28‌

)

(

0

.20‌

)

(

0

.48‌

)

10

.65‌

3/31/20

10

.29‌

0

.33‌

0

.19‌

0

.52‌

(

0

.33‌

)

—‌

(

0

.33‌

)

10

.48‌

3/31/19

†

10

.00‌

0

.18‌

0

.29‌

0

.47‌

(

0

.18‌

)

—‌

(

0

.18‌

)

10

.29‌

#

Unaudited

†

Class

W

commenced

operations

on

September

28,

2018.

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.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

371

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

Portfolio

turnover

rate

excluding

mortgage

dollar

rolls

(

9

.63‌

)

%

b

$

4,254,235‌

0

.29‌

%

c

0

.29‌

%

c

2

.89‌

%

c

95‌

%

b

60‌

%

b

(

4

.14‌

)

4,490,250‌

0

.29‌

0

.29‌

1

.98‌

295‌

f

96‌

f

5

.84‌

2,825,828‌

0

.29‌

0

.29‌

2

.27‌

229‌

117‌

4

.75‌

1,753,879‌

0

.30‌

0

.30‌

2

.86‌

133‌

125‌

4

.38‌

954,430‌

0

.30‌

0

.30‌

3

.16‌

138‌

125‌

1

.83‌

4,343,864‌

0

.30‌

0

.30‌

2

.95‌

155‌

130‌

(

9

.68‌

)

b

868,956‌

0

.42‌

c

0

.42‌

c

2

.74‌

c

95‌

b

60‌

b

(

4

.26‌

)

989,602‌

0

.42‌

0

.42‌

1

.85‌

295‌

f

96‌

f

5

.70‌

753,975‌

0

.42‌

0

.42‌

2

.16‌

229‌

117‌

4

.61‌

906,706‌

0

.43‌

0

.43‌

2

.73‌

133‌

125‌

4

.37‌

933,420‌

0

.44‌

0

.44‌

3

.15‌

138‌

125‌

1

.74‌

5,148‌

0

.38‌

0

.38‌

2

.95‌

155‌

130‌

(

9

.70‌

)

b

5,812‌

0

.44‌

c

0

.44‌

c

2

.73‌

c

95‌

b

60‌

b

(

4

.28‌

)

6,596‌

0

.44‌

0

.44‌

1

.81‌

295‌

f

96‌

f

5

.58‌

11,648‌

0

.44‌

0

.44‌

2

.13‌

229‌

117‌

4

.60‌

13,685‌

0

.45‌

0

.45‌

2

.71‌

133‌

125‌

4

.32‌

14,729‌

0

.45‌

0

.45‌

3

.05‌

138‌

125‌

1

.67‌

25,584‌

0

.45‌

0

.45‌

2

.79‌

155‌

130‌

(

9

.73‌

)

b

136,603‌

0

.54‌

c

0

.54‌

c

2

.63‌

c

95‌

b

60‌

b

(

4

.36‌

)

162,596‌

0

.54‌

0

.54‌

1

.71‌

295‌

f

96‌

f

5

.51‌

210,938‌

0

.54‌

0

.54‌

2

.03‌

229‌

117‌

4

.56‌

208,899‌

0

.55‌

0

.55‌

2

.61‌

133‌

125‌

4

.20‌

197,645‌

0

.55‌

0

.55‌

2

.98‌

138‌

125‌

1

.49‌

213,497‌

0

.55‌

0

.55‌

2

.69‌

155‌

130‌

(

9

.77‌

)

b

79,327‌

0

.58‌

c

0

.58‌

c

2

.58‌

c

95‌

b

60‌

b

(

4

.38‌

)

93,247‌

0

.59‌

0

.55‌

1

.70‌

295‌

f

96‌

f

5

.47‌

107,280‌

0

.58‌

0

.58‌

1

.99‌

229‌

117‌

4

.52‌

106,363‌

0

.59‌

0

.59‌

2

.57‌

133‌

125‌

4

.16‌

92,455‌

0

.60‌

0

.60‌

2

.93‌

138‌

125‌

1

.45‌

97,066‌

0

.60‌

0

.60‌

2

.65‌

155‌

130‌

(

9

.50‌

)

b

3,724,397‌

0

.29‌

c

0.00‌

c

3

.16‌

c

95‌

b

60‌

b

(

3

.86‌

)

4,672,235‌

0

.29‌

0.00‌

2

.25‌

295‌

f

96‌

f

6

.15‌

4,793,554‌

0

.29‌

0.00‌

2

.56‌

229‌

117‌

5

.06‌

3,614,517‌

0

.30‌

0.00‌

3

.16‌

133‌

125‌

4

.77‌

b

3,741,378‌

0

.30‌

c

0.00‌

c

3

.64‌

c

138‌

125‌

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

372

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

8.3

CORE

IMPACT

BOND

FUND

Institutional

Class:

9/30/22

#

$

9

.87‌

$

0

.13‌

$

(

1

.07‌

)

$

(

0

.94‌

)

$

(

0

.13‌

)

$

—‌

$

(

0

.13‌

)

$

8

.80‌

3/31/22

10

.48‌

0

.18‌

(

0

.61‌

)

(

0

.43‌

)

(

0

.18‌

)

(

0

.00‌

)

d

(

0

.18‌

)

9

.87‌

3/31/21

10

.41‌

0

.21‌

0

.33‌

0

.54‌

(

0

.21‌

)

(

0

.26‌

)

(

0

.47‌

)

10

.48‌

3/31/20

10

.28‌

0

.28‌

0

.20‌

0

.48‌

(

0

.28‌

)

(

0

.07‌

)

(

0

.35‌

)

10

.41‌

3/31/19

10

.14‌

0

.30‌

0

.14‌

0

.44‌

(

0

.30‌

)

—‌

(

0

.30‌

)

10

.28‌

3/31/18

10

.18‌

0

.27‌

(

0

.05‌

)

0

.22‌

(

0

.26‌

)

—‌

(

0

.26‌

)

10

.14‌

Advisor

Class:

9/30/22

#

9

.88‌

0

.12‌

(

1

.08‌

)

(

0

.96‌

)

(

0

.12‌

)

—‌

(

0

.12‌

)

8

.80‌

3/31/22

10

.48‌

0

.17‌

(

0

.59‌

)

(

0

.42‌

)

(

0

.18‌

)

(

0

.00‌

)

d

(

0

.18‌

)

9

.88‌

3/31/21

10

.42‌

0

.20‌

0

.32‌

0

.52‌

(

0

.20‌

)

(

0

.26‌

)

(

0

.46‌

)

10

.48‌

3/31/20

10

.29‌

0

.27‌

0

.20‌

0

.47‌

(

0

.27‌

)

(

0

.07‌

)

(

0

.34‌

)

10

.42‌

3/31/19

10

.15‌

0

.30‌

0

.14‌

0

.44‌

(

0

.30‌

)

—‌

(

0

.30‌

)

10

.29‌

3/31/18

10

.19‌

0

.26‌

(

0

.05‌

)

0

.21‌

(

0

.25‌

)

—‌

(

0

.25‌

)

10

.15‌

Premier

Class:

9/30/22

#

9

.88‌

0

.12‌

(

1

.08‌

)

(

0

.96‌

)

(

0

.12‌

)

—‌

(

0

.12‌

)

8

.80‌

3/31/22

10

.48‌

0

.16‌

(

0

.60‌

)

(

0

.44‌

)

(

0

.16‌

)

(

0

.00‌

)

d

(

0

.16‌

)

9

.88‌

3/31/21

10

.42‌

0

.19‌

0

.32‌

0

.51‌

(

0

.19‌

)

(

0

.26‌

)

(

0

.45‌

)

10

.48‌

3/31/20

10

.29‌

0

.27‌

0

.20‌

0

.47‌

(

0

.27‌

)

(

0

.07‌

)

(

0

.34‌

)

10

.42‌

3/31/19

10

.15‌

0

.28‌

0

.14‌

0

.42‌

(

0

.28‌

)

—‌

(

0

.28‌

)

10

.29‌

3/31/18

10

.19‌

0

.25‌

(

0

.05‌

)

0

.20‌

(

0

.24‌

)

—‌

(

0

.24‌

)

10

.15‌

Retirement

Class:

9/30/22

#

9

.88‌

0

.12‌

(

1

.08‌

)

(

0

.96‌

)

(

0

.12‌

)

—‌

(

0

.12‌

)

8

.80‌

3/31/22

10

.48‌

0

.15‌

(

0

.59‌

)

(

0

.44‌

)

(

0

.16‌

)

(

0

.00‌

)

d

(

0

.16‌

)

9

.88‌

3/31/21

10

.41‌

0

.18‌

0

.33‌

0

.51‌

(

0

.18‌

)

(

0

.26‌

)

(

0

.44‌

)

10

.48‌

3/31/20

10

.29‌

0

.26‌

0

.19‌

0

.45‌

(

0

.26‌

)

(

0

.07‌

)

(

0

.33‌

)

10

.41‌

3/31/19

10

.14‌

0

.28‌

0

.15‌

0

.43‌

(

0

.28‌

)

—‌

(

0

.28‌

)

10

.29‌

3/31/18

10

.19‌

0

.24‌

(

0

.06‌

)

0

.18‌

(

0

.23‌

)

—‌

(

0

.23‌

)

10

.14‌

Retail

Class:

9/30/22

#

9

.87‌

0

.11‌

(

1

.08‌

)

(

0

.97‌

)

(

0

.11‌

)

—‌

(

0

.11‌

)

8

.79‌

3/31/22

10

.47‌

0

.15‌

(

0

.60‌

)

(

0

.45‌

)

(

0

.15‌

)

(

0

.00‌

)

d

(

0

.15‌

)

9

.87‌

3/31/21

10

.40‌

0

.18‌

0

.33‌

0

.51‌

(

0

.18‌

)

(

0

.26‌

)

(

0

.44‌

)

10

.47‌

3/31/20

10

.28‌

0

.25‌

0

.19‌

0

.44‌

(

0

.25‌

)

(

0

.07‌

)

(

0

.32‌

)

10

.40‌

3/31/19

10

.14‌

0

.27‌

0

.14‌

0

.41‌

(

0

.27‌

)

—‌

(

0

.27‌

)

10

.28‌

3/31/18

10

.18‌

0

.24‌

(

0

.05‌

)

0

.19‌

(

0

.23‌

)

—‌

(

0

.23‌

)

10

.14‌

#

Unaudited

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.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

373

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

Portfolio

turnover

rate

excluding

mortgage

dollar

rolls

(

9

.61‌

)

%

b

$

3,984,111‌

0

.37‌

%

c

0

.36‌

%

c

2

.70‌

%

c

93‌

%

b

67‌

%

b

(

4

.16‌

)

4,648,095‌

0

.38‌

0

.38‌

1

.72‌

255‌

112‌

5

.13‌

4,169,777‌

0

.35‌

0

.35‌

1

.92‌

293‌

186‌

4

.74‌

3,223,141‌

0

.36‌

0

.36‌

2

.68‌

115‌

f

110‌

f

4

.47‌

1,961,314‌

0

.37‌

0

.37‌

3

.02‌

90‌

82‌

2

.14‌

1,203,023‌

0

.39‌

0

.39‌

2

.61‌

112‌

89‌

(

9

.73‌

)

b

1,432,252‌

0

.44‌

c

0

.42‌

c

2

.65‌

c

93‌

b

67‌

b

(

4

.12‌

)

1,526,575‌

0

.44‌

0

.44‌

1

.66‌

255‌

112‌

4

.95‌

1,286,125‌

0

.43‌

0

.43‌

1

.83‌

293‌

186‌

4

.64‌

930,083‌

0

.46‌

0

.46‌

2

.58‌

115‌

f

110‌

f

4

.39‌

554,143‌

0

.44‌

0

.44‌

2

.97‌

90‌

82‌

2

.09‌

239,374‌

0

.44‌

0

.44‌

2

.55‌

112‌

89‌

(

9

.78‌

)

b

23,442‌

0

.66‌

c

0

.54‌

c

2

.53‌

c

93‌

b

67‌

b

(

4

.23‌

)

27,068‌

0

.58‌

0

.55‌

1

.53‌

255‌

112‌

4

.85‌

32,891‌

0

.53‌

0

.53‌

1

.76‌

293‌

186‌

4

.57‌

30,850‌

0

.53‌

0

.53‌

2

.51‌

115‌

f

110‌

f

4

.28‌

36,827‌

0

.55‌

0

.55‌

2

.84‌

90‌

82‌

1

.99‌

30,079‌

0

.54‌

0

.54‌

2

.44‌

112‌

89‌

(

9

.81‌

)

b

309,304‌

0

.62‌

c

0

.61‌

c

2

.45‌

c

93‌

b

67‌

b

(

4

.31‌

)

382,704‌

0

.63‌

0

.63‌

1

.45‌

255‌

112‌

4

.87‌

472,112‌

0

.60‌

0

.60‌

1

.69‌

293‌

186‌

4

.38‌

527,044‌

0

.61‌

0

.61‌

2

.43‌

115‌

f

110‌

f

4

.31‌

467,437‌

0

.62‌

0

.62‌

2

.77‌

90‌

82‌

1

.79‌

364,848‌

0

.64‌

0

.64‌

2

.34‌

112‌

89‌

(

9

.83‌

)

b

263,075‌

0

.64‌

c

0

.62‌

c

2

.43‌

c

93‌

b

67‌

b

(

4

.32‌

)

330,332‌

0

.64‌

0

.64‌

1

.45‌

255‌

112‌

4

.87‌

304,704‌

0

.61‌

0

.61‌

1

.67‌

293‌

186‌

4

.35‌

233,432‌

0

.64‌

0

.64‌

2

.40‌

115‌

f

110‌

f

4

.18‌

172,447‌

0

.65‌

0

.65‌

2

.72‌

90‌

82‌

1

.88‌

176,995‌

0

.65‌

0

.65‌

2

.33‌

112‌

89‌

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

374

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

8.4

CORE

PLUS

BOND

FUND

Institutional

Class:

9/30/22

#

$

10

.03‌

$

0

.16‌

$

(

1

.15‌

)

$

(

0

.99‌

)

$

(

0

.16‌

)

$

—‌

$

(

0

.16‌

)

$

8

.88‌

3/31/22

10

.82‌

0

.26‌

(

0

.64‌

)

(

0

.38‌

)

(

0

.26‌

)

(

0

.15‌

)

(

0

.41‌

)

10

.03‌

3/31/21

10

.38‌

0

.29‌

0

.52‌

0

.81‌

(

0

.29‌

)

(

0

.08‌

)

(

0

.37‌

)

10

.82‌

3/31/20

10

.35‌

0

.32‌

0

.03‌

0

.35‌

(

0

.32‌

)

—‌

(

0

.32‌

)

10

.38‌

3/31/19

10

.24‌

0

.35‌

0

.10‌

0

.45‌

(

0

.34‌

)

—‌

(

0

.34‌

)

10

.35‌

3/31/18

10

.36‌

0

.33‌

(

0

.11‌

)

0

.22‌

(

0

.33‌

)

(

0

.01‌

)

(

0

.34‌

)

10

.24‌

Advisor

Class:

9/30/22

#

10

.04‌

0

.15‌

(

1

.15‌

)

(

1

.00‌

)

(

0

.15‌

)

—‌

(

0

.15‌

)

8

.89‌

3/31/22

10

.83‌

0

.26‌

(

0

.65‌

)

(

0

.39‌

)

(

0

.25‌

)

(

0

.15‌

)

(

0

.40‌

)

10

.04‌

3/31/21

10

.39‌

0

.29‌

0

.51‌

0

.80‌

(

0

.28‌

)

(

0

.08‌

)

(

0

.36‌

)

10

.83‌

3/31/20

10

.36‌

0

.31‌

0

.03‌

0

.34‌

(

0

.31‌

)

—‌

(

0

.31‌

)

10

.39‌

3/31/19

10

.25‌

0

.34‌

0

.11‌

0

.45‌

(

0

.34‌

)

—‌

(

0

.34‌

)

10

.36‌

3/31/18

10

.37‌

0

.32‌

(

0

.11‌

)

0

.21‌

(

0

.32‌

)

(

0

.01‌

)

(

0

.33‌

)

10

.25‌

Premier

Class:

9/30/22

#

10

.03‌

0

.15‌

(

1

.15‌

)

(

1

.00‌

)

(

0

.15‌

)

—‌

(

0

.15‌

)

8

.88‌

3/31/22

10

.82‌

0

.25‌

(

0

.65‌

)

(

0

.40‌

)

(

0

.24‌

)

(

0

.15‌

)

(

0

.39‌

)

10

.03‌

3/31/21

10

.38‌

0

.28‌

0

.51‌

0

.79‌

(

0

.27‌

)

(

0

.08‌

)

(

0

.35‌

)

10

.82‌

3/31/20

10

.35‌

0

.31‌

0

.02‌

0

.33‌

(

0

.30‌

)

—‌

(

0

.30‌

)

10

.38‌

3/31/19

10

.24‌

0

.33‌

0

.11‌

0

.44‌

(

0

.33‌

)

—‌

(

0

.33‌

)

10

.35‌

3/31/18

10

.36‌

0

.32‌

(

0

.12‌

)

0

.20‌

(

0

.31‌

)

(

0

.01‌

)

(

0

.32‌

)

10

.24‌

Retirement

Class:

9/30/22

#

10

.04‌

0

.15‌

(

1

.14‌

)

(

0

.99‌

)

(

0

.15‌

)

—‌

(

0

.15‌

)

8

.90‌

3/31/22

10

.84‌

0

.24‌

(

0

.66‌

)

(

0

.42‌

)

(

0

.23‌

)

(

0

.15‌

)

(

0

.38‌

)

10

.04‌

3/31/21

10

.40‌

0

.27‌

0

.51‌

0

.78‌

(

0

.26‌

)

(

0

.08‌

)

(

0

.34‌

)

10

.84‌

3/31/20

10

.37‌

0

.30‌

0

.02‌

0

.32‌

(

0

.29‌

)

—‌

(

0

.29‌

)

10

.40‌

3/31/19

10

.26‌

0

.32‌

0

.11‌

0

.43‌

(

0

.32‌

)

—‌

(

0

.32‌

)

10

.37‌

3/31/18

10

.37‌

0

.31‌

(

0

.11‌

)

0

.20‌

(

0

.30‌

)

(

0

.01‌

)

(

0

.31‌

)

10

.26‌

Retail

Class:

9/30/22

#

10

.05‌

0

.14‌

(

1

.15‌

)

(

1

.01‌

)

(

0

.14‌

)

—‌

(

0

.14‌

)

8

.90‌

3/31/22

10

.84‌

0

.24‌

(

0

.65‌

)

(

0

.41‌

)

(

0

.23‌

)

(

0

.15‌

)

(

0

.38‌

)

10

.05‌

3/31/21

10

.40‌

0

.26‌

0

.52‌

0

.78‌

(

0

.26‌

)

(

0

.08‌

)

(

0

.34‌

)

10

.84‌

3/31/20

10

.38‌

0

.29‌

0

.01‌

0

.30‌

(

0

.28‌

)

—‌

(

0

.28‌

)

10

.40‌

3/31/19

10

.26‌

0

.32‌

0

.11‌

0

.43‌

(

0

.31‌

)

—‌

(

0

.31‌

)

10

.38‌

3/31/18

10

.38‌

0

.30‌

(

0

.11‌

)

0

.19‌

(

0

.30‌

)

(

0

.01‌

)

(

0

.31‌

)

10

.26‌

Class

W:

9/30/22

#

10

.03‌

0

.17‌

(

1

.15‌

)

(

0

.98‌

)

(

0

.17‌

)

—‌

(

0

.17‌

)

8

.88‌

3/31/22

10

.82‌

0

.30‌

(

0

.65‌

)

(

0

.35‌

)

(

0

.29‌

)

(

0

.15‌

)

(

0

.44‌

)

10

.03‌

3/31/21

10

.38‌

0

.32‌

0

.52‌

0

.84‌

(

0

.32‌

)

(

0

.08‌

)

(

0

.40‌

)

10

.82‌

3/31/20

10

.36‌

0

.36‌

0

.01‌

0

.37‌

(

0

.35‌

)

—‌

(

0

.35‌

)

10

.38‌

3/31/19

†

10

.07‌

0

.19‌

0

.29‌

0

.48‌

(

0

.19‌

)

—‌

(

0

.19‌

)

10

.36‌

#

Unaudited

†

Class

W

commenced

operations

on

September

28,

2018.

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.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

375

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

Portfolio

turnover

rate

excluding

mortgage

dollar

rolls

(

9

.97‌

)

%

b

$

1,343,410‌

0

.30‌

%

c

0

.30‌

%

c

3

.33‌

%

c

90‌

%

b

72‌

%

b

(

3

.72‌

)

1,557,970‌

0

.30‌

0

.30‌

2

.45‌

251‌

97‌

7

.83‌

1,608,213‌

0

.30‌

0

.30‌

2

.66‌

169‌

84‌

3

.31‌

1,383,899‌

0

.30‌

0

.30‌

3

.04‌

94‌

f

85‌

f

4

.56‌

1,185,094‌

0

.30‌

0

.30‌

3

.39‌

106‌

90‌

2

.07‌

3,434,043‌

0

.30‌

0

.30‌

3

.19‌

156‌

116‌

(

10

.00‌

)

b

118,575‌

0

.38‌

c

0

.38‌

c

3

.23‌

c

90‌

b

72‌

b

(

3

.79‌

)

162,811‌

0

.38‌

0

.38‌

2

.36‌

251‌

97‌

7

.74‌

208,321‌

0

.37‌

0

.37‌

2

.60‌

169‌

84‌

3

.24‌

211,366‌

0

.38‌

0

.38‌

2

.93‌

94‌

f

85‌

f

4

.51‌

35,007‌

0

.35‌

0

.35‌

3

.39‌

106‌

90‌

1

.99‌

24,604‌

0

.37‌

0

.37‌

3

.17‌

156‌

116‌

(

10

.04‌

)

b

6,028‌

0

.45‌

c

0

.45‌

c

3

.17‌

c

90‌

b

72‌

b

(

3

.86‌

)

7,305‌

0

.45‌

0

.45‌

2

.30‌

251‌

97‌

7

.67‌

8,155‌

0

.45‌

0

.45‌

2

.53‌

169‌

84‌

3

.16‌

9,431‌

0

.45‌

0

.45‌

2

.89‌

94‌

f

85‌

f

4

.41‌

10,707‌

0

.45‌

0

.45‌

3

.25‌

106‌

90‌

1

.92‌

22,115‌

0

.46‌

0

.46‌

3

.02‌

156‌

116‌

(

9

.97‌

)

b

264,569‌

0

.55‌

c

0

.55‌

c

3

.07‌

c

90‌

b

72‌

b

(

4

.04‌

)

326,659‌

0

.55‌

0

.55‌

2

.20‌

251‌

97‌

7

.55‌

397,965‌

0

.55‌

0

.55‌

2

.42‌

169‌

84‌

3

.06‌

394,611‌

0

.55‌

0

.55‌

2

.79‌

94‌

f

85‌

f

4

.30‌

436,641‌

0

.55‌

0

.55‌

3

.18‌

106‌

90‌

1

.92‌

426,965‌

0

.55‌

0

.55‌

2

.94‌

156‌

116‌

(

10

.09‌

)

b

233,841‌

0

.62‌

c

0

.62‌

c

3

.01‌

c

90‌

b

72‌

b

(

3

.95‌

)

270,848‌

0

.61‌

0

.56‌

2

.19‌

251‌

97‌

7

.48‌

302,270‌

0

.61‌

0

.61‌

2

.36‌

169‌

84‌

2

.90‌

298,496‌

0

.61‌

0

.61‌

2

.73‌

94‌

f

85‌

f

4

.33‌

256,549‌

0

.62‌

0

.62‌

3

.11‌

106‌

90‌

1

.75‌

264,757‌

0

.62‌

0

.62‌

2

.87‌

156‌

116‌

(

9

.84‌

)

b

2,371,634‌

0

.30‌

c

0.00‌

c

3

.62‌

c

90‌

b

72‌

b

(

3

.43‌

)

2,925,520‌

0

.30‌

0.00‌

2

.75‌

251‌

97‌

8

.14‌

3,039,900‌

0

.30‌

0.00‌

2

.95‌

169‌

84‌

3

.52‌

2,268,780‌

0

.30‌

0.00‌

3

.34‌

94‌

f

85‌

f

4

.82‌

b

2,370,116‌

0

.31‌

c

0.00‌

c

3

.84‌

c

106‌

90‌

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

376

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

8.5

5–15

YEAR

LADDERED

TAX-EXEMPT

BOND

FUND

Institutional

Class:

9/30/22

#

$

10

.04‌

$

0

.12‌

$

(

0

.73‌

)

$

(

0

.61‌

)

$

(

0

.12‌

)

$

—‌

$

(

0

.12‌

)

$

9

.31‌

3/31/22

10

.90‌

0

.22‌

(

0

.78‌

)

(

0

.56‌

)

(

0

.23‌

)

(

0

.07‌

)

(

0

.30‌

)

10

.04‌

3/31/21

10

.50‌

0

.24‌

0

.43‌

0

.67‌

(

0

.24‌

)

(

0

.03‌

)

(

0

.27‌

)

10

.90‌

3/31/20

10

.55‌

0

.26‌

(

0

.03‌

)

0

.23‌

(

0

.26‌

)

(

0

.02‌

)

(

0

.28‌

)

10

.50‌

3/31/19

10

.26‌

0

.27‌

0

.30‌

0

.57‌

(

0

.27‌

)

(

0

.01‌

)

(

0

.28‌

)

10

.55‌

3/31/18

10

.25‌

0

.24‌

0

.01‌

0

.25‌

(

0

.24‌

)

(

0

.00‌

)

d

(

0

.24‌

)

10

.26‌

Advisor

Class:

9/30/22

#

10

.03‌

0

.11‌

(

0

.73‌

)

(

0

.62‌

)

(

0

.11‌

)

—‌

(

0

.11‌

)

9

.30‌

3/31/22

10

.89‌

0

.21‌

(

0

.79‌

)

(

0

.58‌

)

(

0

.21‌

)

(

0

.07‌

)

(

0

.28‌

)

10

.03‌

3/31/21

10

.50‌

0

.23‌

0

.42‌

0

.65‌

(

0

.23‌

)

(

0

.03‌

)

(

0

.26‌

)

10

.89‌

3/31/20

10

.55‌

0

.25‌

(

0

.02‌

)

0

.23‌

(

0

.26‌

)

(

0

.02‌

)

(

0

.28‌

)

10

.50‌

3/31/19

10

.26‌

0

.26‌

0

.30‌

0

.56‌

(

0

.26‌

)

(

0

.01‌

)

(

0

.27‌

)

10

.55‌

3/31/18

10

.25‌

0

.24‌

0

.01‌

0

.25‌

(

0

.24‌

)

(

0

.00‌

)

d

(

0

.24‌

)

10

.26‌

Retail

Class:

9/30/22

#

10

.05‌

0

.10‌

(

0

.73‌

)

(

0

.63‌

)

(

0

.10‌

)

—‌

(

0

.10‌

)

9

.32‌

3/31/22

10

.91‌

0

.20‌

(

0

.79‌

)

(

0

.59‌

)

(

0

.20‌

)

(

0

.07‌

)

(

0

.27‌

)

10

.05‌

3/31/21

10

.51‌

0

.21‌

0

.43‌

0

.64‌

(

0

.21‌

)

(

0

.03‌

)

(

0

.24‌

)

10

.91‌

3/31/20

10

.56‌

0

.23‌

(

0

.03‌

)

0

.20‌

(

0

.23‌

)

(

0

.02‌

)

(

0

.25‌

)

10

.51‌

3/31/19

10

.27‌

0

.24‌

0

.30‌

0

.54‌

(

0

.24‌

)

(

0

.01‌

)

(

0

.25‌

)

10

.56‌

3/31/18

10

.26‌

0

.21‌

0

.01‌

0

.22‌

(

0

.21‌

)

(

0

.00‌

)

d

(

0

.21‌

)

10

.27‌

#

Unaudited

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.

See

notes

to

financial

statements

377

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(

6

.16‌

)

%

b

$

16,789‌

0

.34‌

%

c

0

.30‌

%

c

2

.37‌

%

c

1‌

%

b

(

5

.31‌

)

18,226‌

0

.33‌

0

.30‌

2

.09‌

9‌

6

.48‌

8,099‌

0

.32‌

0

.30‌

2

.24‌

23‌

2

.21‌

4,946‌

0

.33‌

0

.30‌

2

.43‌

21‌

5

.64‌

5,091‌

0

.35‌

0

.31‌

2

.71‌

43‌

2

.48‌

1,401‌

0

.38‌

0

.35‌

2

.31‌

29‌

(

6

.21‌

)

b

631‌

0

.42‌

c

0

.38‌

c

2

.29‌

c

1‌

b

(

5

.42‌

)

683‌

0

.43‌

0

.40‌

1

.97‌

9‌

6

.30‌

666‌

0

.40‌

0

.38‌

2

.16‌

23‌

2

.14‌

966‌

0

.41‌

0

.38‌

2

.36‌

21‌

5

.58‌

228‌

0

.41‌

0

.38‌

2

.58‌

43‌

2

.49‌

100‌

0

.37‌

0

.34‌

2

.34‌

29‌

(

6

.28‌

)

b

225,595‌

0

.62‌

c

0

.58‌

c

2

.08‌

c

1‌

b

(

5

.54‌

)

248,157‌

0

.61‌

0

.54‌

1

.83‌

9‌

6

.18‌

272,018‌

0

.59‌

0

.58‌

1

.97‌

23‌

1

.93‌

264,478‌

0

.61‌

0

.58‌

2

.17‌

21‌

5

.34‌

265,913‌

0

.63‌

0

.60‌

2

.34‌

43‌

2

.20‌

266,695‌

0

.65‌

0

.62‌

2

.06‌

29‌

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

378

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

8.6

GREEN

BOND

FUND

Institutional

Class:

9/30/22

#

$

9

.95‌

$

0

.14‌

$

(

1

.04‌

)

$

(

0

.90‌

)

$

(

0

.14‌

)

$

—‌

$

(

0

.14‌

)

$

8

.91‌

3/31/22

10

.62‌

0

.24‌

(

0

.61‌

)

(

0

.37‌

)

(

0

.25‌

)

(

0

.05‌

)

(

0

.30‌

)

9

.95‌

3/31/21

10

.22‌

0

.27‌

0

.58‌

0

.85‌

(

0

.27‌

)

(

0

.18‌

)

(

0

.45‌

)

10

.62‌

3/31/20

10

.33‌

0

.33‌

(

0

.02‌

)

0

.31‌

(

0

.33‌

)

(

0

.09‌

)

(

0

.42‌

)

10

.22‌

3/31/19*

10

.00‌

0

.14‌

0

.33‌

0

.47‌

(

0

.14‌

)

—‌

(

0

.14‌

)

10

.33‌

Advisor

Class:

9/30/22

#

9

.95‌

0

.15‌

(

1

.05‌

)

(

0

.90‌

)

(

0

.14‌

)

—‌

(

0

.14‌

)

8

.91‌

3/31/22

10

.62‌

0

.24‌

(

0

.62‌

)

(

0

.38‌

)

(

0

.24‌

)

(

0

.05‌

)

(

0

.29‌

)

9

.95‌

3/31/21

10

.22‌

0

.27‌

0

.58‌

0

.85‌

(

0

.27‌

)

(

0

.18‌

)

(

0

.45‌

)

10

.62‌

3/31/20

10

.33‌

0

.33‌

(

0

.02‌

)

0

.31‌

(

0

.33‌

)

(

0

.09‌

)

(

0

.42‌

)

10

.22‌

3/31/19*

10

.00‌

0

.13‌

0

.33‌

0

.46‌

(

0

.13‌

)

—‌

(

0

.13‌

)

10

.33‌

Premier

Class:

9/30/22

#

9

.95‌

0

.14‌

(

1

.04‌

)

(

0

.90‌

)

(

0

.14‌

)

—‌

(

0

.14‌

)

8

.91‌

3/31/22

10

.62‌

0

.23‌

(

0

.62‌

)

(

0

.39‌

)

(

0

.23‌

)

(

0

.05‌

)

(

0

.28‌

)

9

.95‌

3/31/21

10

.22‌

0

.26‌

0

.58‌

0

.84‌

(

0

.26‌

)

(

0

.18‌

)

(

0

.44‌

)

10

.62‌

3/31/20

10

.33‌

0

.32‌

(

0

.02‌

)

0

.30‌

(

0

.32‌

)

(

0

.09‌

)

(

0

.41‌

)

10

.22‌

3/31/19*

10

.00‌

0

.13‌

0

.33‌

0

.46‌

(

0

.13‌

)

—‌

(

0

.13‌

)

10

.33‌

Retirement

Class:

9/30/22

#

9

.95‌

0

.13‌

(

1

.04‌

)

(

0

.91‌

)

(

0

.13‌

)

—‌

(

0

.13‌

)

8

.91‌

3/31/22

10

.63‌

0

.23‌

(

0

.63‌

)

(

0

.40‌

)

(

0

.23‌

)

(

0

.05‌

)

(

0

.28‌

)

9

.95‌

3/31/21

10

.22‌

0

.26‌

0

.59‌

0

.85‌

(

0

.26‌

)

(

0

.18‌

)

(

0

.44‌

)

10

.63‌

3/31/20

10

.33‌

0

.31‌

(

0

.01‌

)

0

.30‌

(

0

.32‌

)

(

0

.09‌

)

(

0

.41‌

)

10

.22‌

3/31/19*

10

.00‌

0

.13‌

0

.33‌

0

.46‌

(

0

.13‌

)

—‌

(

0

.13‌

)

10

.33‌

Retail

Class:

9/30/22

#

9

.95‌

0

.13‌

(

1

.04‌

)

(

0

.91‌

)

(

0

.13‌

)

—‌

(

0

.13‌

)

8

.91‌

3/31/22

10

.63‌

0

.22‌

(

0

.63‌

)

(

0

.41‌

)

(

0

.22‌

)

(

0

.05‌

)

(

0

.27‌

)

9

.95‌

3/31/21

10

.22‌

0

.24‌

0

.59‌

0

.83‌

(

0

.24‌

)

(

0

.18‌

)

(

0

.42‌

)

10

.63‌

3/31/20

10

.33‌

0

.30‌

(

0

.01‌

)

0

.29‌

(

0

.31‌

)

(

0

.09‌

)

(

0

.40‌

)

10

.22‌

3/31/19*

10

.00‌

0

.13‌

0

.33‌

0

.46‌

(

0

.13‌

)

—‌

(

0

.13‌

)

10

.33‌

#

Unaudited

*

The

Fund

commenced

operations

on

November

16,

2018.

a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

See

notes

to

financial

statements

379

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(

9

.08‌

)

%

b

$

70,380‌

0

.67‌

%

c

0

.42‌

%

c

3

.01‌

%

c

16‌

%

b

(

3

.71‌

)

77,183‌

0

.81‌

0

.45‌

2

.34‌

27‌

8

.27‌

27,694‌

0

.93‌

0

.45‌

2

.50‌

34‌

2

.94‌

21,857‌

1

.21‌

0

.45‌

3

.15‌

37‌

4

.71‌

b

21,751‌

2

.99‌

c

0

.45‌

c

3

.68‌

c

31‌

b

(

9

.09‌

)

b

44,094‌

0

.74‌

c

0

.48‌

c

3

.27‌

c

16‌

b

(

3

.73‌

)

3,270‌

0

.83‌

0

.47‌

2

.30‌

27‌

8

.25‌

1,570‌

0

.94‌

0

.46‌

2

.49‌

34‌

2

.93‌

1,069‌

1

.22‌

0

.46‌

3

.14‌

37‌

4

.66‌

b

1,033‌

3

.37‌

c

0

.60‌

c

3

.53‌

c

31‌

b

(

9

.15‌

)

b

891‌

0

.83‌

c

0

.57‌

c

2

.86‌

c

16‌

b

(

3

.84‌

)

995‌

0

.97‌

0

.58‌

2

.18‌

27‌

8

.16‌

1,062‌

1

.08‌

0

.55‌

2

.41‌

34‌

2

.79‌

1,022‌

1

.37‌

0

.60‌

3

.00‌

37‌

4

.66‌

b

1,033‌

3

.52‌

c

0

.60‌

c

3

.53‌

c

31‌

b

(

9

.15‌

)

b

13,571‌

0

.93‌

c

0

.58‌

c

2

.85‌

c

16‌

b

(

3

.93‌

)

15,531‌

1

.06‌

0

.58‌

2

.18‌

27‌

8

.26‌

14,133‌

1

.18‌

0

.54‌

2

.38‌

34‌

2

.77‌

6,457‌

1

.47‌

0

.62‌

2

.96‌

37‌

4

.65‌

b

1,620‌

3

.54‌

c

0

.62‌

c

3

.60‌

c

31‌

b

(

9

.21‌

)

b

6,942‌

0

.96‌

c

0

.70‌

c

2

.73‌

c

16‌

b

(

4

.06‌

)

7,465‌

1

.33‌

0

.73‌

2

.04‌

27‌

8

.07‌

6,342‌

1

.26‌

0

.73‌

2

.20‌

34‌

2

.69‌

2,816‌

1

.59‌

0

.71‌

2

.87‌

37‌

4

.62‌

b

1,403‌

3

.92‌

c

0

.71‌

c

3

.50‌

c

31‌

b

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

380

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

8.7

HIGH-YIELD

FUND

Institutional

Class:

9/30/22

#

$

9.11‌

$

0.23‌

$

(1.16‌)

$

(0.93‌)

$

(0.23‌)

$

—‌

$

(0.23‌)

$

7.95‌

3/31/22

9.53‌

0.45‌

(0.43‌)

0.02‌

(0.44‌)

—‌

(0.44‌)

9.11‌

3/31/21

8.36‌

0.47‌

1.17‌

1.64‌

(0.47‌)

—‌

(0.47‌)

9.53‌

3/31/20

9.61‌

0.54‌

(1.25‌)

(0.71‌)

(0.54‌)

—‌

(0.54‌)

8.36‌

3/31/19

9.56‌

0.56‌

0.05‌

0.61‌

(0.56‌)

—‌

(0.56‌)

9.61‌

3/31/18

9.80‌

0.51‌

(0.24‌)

0.27‌

(0.51‌)

—‌

(0.51‌)

9.56‌

Advisor

Class:

9/30/22

#

9.10‌

0.22‌

(1.15‌)

(0.93‌)

(0.23‌)

—‌

(0.23‌)

7.94‌

3/31/22

9.52‌

0.43‌

(0.42‌)

0.01‌

(0.43‌)

—‌

(0.43‌)

9.10‌

3/31/21

8.35‌

0.46‌

1.17‌

1.63‌

(0.46‌)

—‌

(0.46‌)

9.52‌

3/31/20

9.60‌

0.53‌

(1.25‌)

(0.72‌)

(0.53‌)

—‌

(0.53‌)

8.35‌

3/31/19

9.56‌

0.55‌

0.03‌

0.58‌

(0.54‌)

—‌

(0.54‌)

9.60‌

3/31/18

9.80‌

0.49‌

(0.23‌)

0.26‌

(0.50‌)

—‌

(0.50‌)

9.56‌

Premier

Class:

9/30/22

#

9.12‌

0.23‌

(1.16‌)

(0.93‌)

(0.23‌)

—‌

(0.23‌)

7.96‌

3/31/22

9.54‌

0.43‌

(0.42‌)

0.01‌

(0.43‌)

—‌

(0.43‌)

9.12‌

3/31/21

8.37‌

0.46‌

1.17‌

1.63‌

(0.46‌)

—‌

(0.46‌)

9

.54‌

3/31/20

9.62‌

0.53‌

(1.25‌)

(0.72‌)

(0.53‌)

—‌

(0.53‌)

8.37‌

3/31/19

9.57‌

0.54‌

0.05‌

0.59‌

(0.54‌)

—‌

(0.54‌)

9.62‌

3/31/18

9.81‌

0.49‌

(0.24‌)

0.25‌

(0.49‌)

—‌

(0.49‌)

9.57‌

Retirement

Class:

9/30/22

#

9.11‌

0.22‌

(1

.16‌)

(0.94‌)

(0.22‌)

—‌

(0.22‌)

7.95‌

3/31/22

9.53‌

0.42‌

(0.42‌)

0.00‌

d

(0.42‌)

—‌

(0.42‌)

9.11‌

3/31/21

8.36‌

0.45‌

1.17‌

1.62‌

(0.45‌)

—‌

(0.45‌)

9.53‌

3/31/20

9.61‌

0.52‌

(1.25‌)

(0.73‌)

(0.52‌)

—‌

(0.52‌)

8.36‌

3/31/19

9.57‌

0.53‌

0.04‌

0.57‌

(0.53‌)

—‌

(0.53‌)

9.61‌

3/31/18

9.81‌

0.48‌

(0.24‌)

0.24‌

(0.48‌)

—‌

(0.48‌)

9.57‌

Retail

Class:

9/30/22

#

9.15‌

0.22‌

(1.17‌)

(0.95‌)

(0.22‌)

—‌

(0.22‌)

7.98‌

3/31/22

9.57‌

0.42‌

(0.42‌)

0.00‌

d

(0.42‌)

—‌

(0.42‌)

9.15‌

3/31/21

8.39‌

0.45‌

1.18‌

1.63‌

(0.45‌)

—‌

(0.45‌)

9.57‌

3/31/20

9.65‌

0.52‌

(1.26‌)

(0.74‌)

(0.52‌)

—‌

(0.52‌)

8.39‌

3/31/19

9.61‌

0.53‌

0.04‌

0.57‌

(0.53‌)

—‌

(0.53‌)

9.65‌

3/31/18

9.85‌

0.48‌

(0.24‌

)

0.24‌

(0.48‌)

—‌

(0.48‌)

9.61‌

Class

W:

9/30/22

#

9.11‌

0.24‌

(1.15‌)

(0.91‌)

(0.25‌)

—‌

(0.25‌)

7.95‌

3/31/22

9.53‌

0.48‌

(0.42‌)

0.06‌

(0.48‌)

—‌

(0.48‌)

9.11‌

3/31/21

8.36‌

0.50‌

1.17‌

1.67‌

(0.50‌)

—‌

(0.50‌)

9.53‌

3/31/20

9.61‌

0.57‌

(1.25‌)

(0.68‌)

(0.57‌)

—‌

(0.57‌)

8.36‌

3/31/19

†

9.66‌

0.30‌

(

0.05‌)

0.25‌

(0.30‌)

—‌

(0.30‌)

9.61‌

#

Unaudited

†

Class

W

commenced

operations

on

September

28,

2018.

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.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

381

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(10.29‌)

%

b

$

1,498,722‌

0.36‌

%

c

0.35‌

%

c

5.38‌

%

c

22‌

%

b

0.17‌

2,147,075‌

0.36‌

0.34‌

4.67‌

70‌

f

19.94‌

2,703,046‌

0.36‌

0.34‌

5.08‌

79‌

(7.96‌)

2,281,685‌

0.36‌

0.35‌

5.63‌

42‌

6.58‌

3,105,793‌

0.36‌

0.36‌

5.86‌

45‌

2.72‌

2,844,390‌

0.36‌

0.36‌

5.19‌

40‌

(10.36‌)

b

7,813‌

0.49‌

c

0.47‌

c

5.26‌

c

22‌

b

0.05‌

9,760‌

0.47‌

0.46‌

4.54‌

70‌

f

19.84‌

8,320‌

0.45‌

0.44‌

4.95‌

79‌

(8.08‌)

4,669‌

0.47‌

0.47‌

5.50‌

42‌

6.34‌

13,910‌

0.47‌

0.47‌

5.80‌

45‌

2.62‌

5,199‌

0.46‌

0.46‌

5.03‌

40‌

(10.34‌)

b

14,509‌

0.51‌

c

0.50‌

c

5.28‌

c

22‌

b

0.02‌

15,798‌

0.51‌

0.49‌

4.54‌

70‌

f

19.74‌

20,200‌

0.51‌

0.49‌

4.95‌

79‌

(8.09‌)

19,372‌

0.51‌

0.50‌

5.49‌

42‌

6.41‌

32,528‌

0.51‌

0.51‌

5.54‌

45‌

2.57‌

130,399‌

0.51‌

0.51‌

5.02‌

40‌

(10.40‌)

b

219,538‌

0.61‌

c

0.60‌

c

5.15‌

c

22‌

b

(0.08‌)

265,385‌

0.61‌

0.59‌

4.43‌

70‌

f

19.64‌

306,428‌

0.61‌

0.59‌

4.85‌

79‌

(8.19‌)

294,164‌

0.61‌

0.60‌

5.39‌

42‌

6.20‌

385,205‌

0.61‌

0.61‌

5.60‌

45‌

2.47‌

418,842‌

0

.61‌

0.61‌

4.93‌

40‌

(10.48‌)

b

208,732‌

0.66‌

c

0.64‌

c

5.09‌

c

22‌

b

(0.07‌)

249,616‌

0.65‌

0.60‌

4.41‌

70‌

f

19.67‌

276,792‌

0.65‌

0.63‌

4.81‌

79‌

(8.27‌)

268,804‌

0.64‌

0.63‌

5.35‌

42‌

6.17‌

324,373‌

0.63‌

0.63‌

5.55‌

45‌

2.47‌

623,780‌

0.62‌

0.62‌

4.91‌

40‌

(10.13‌)

b

527,705‌

0.36‌

c

0.00‌

c

5.76‌

c

22‌

b

0.51‌

450,278‌

0.36‌

0.00‌

5.02‌

70‌

f

20.34‌

469,612‌

0.36‌

0.00‌

5.42‌

79‌

(7.64‌)

378,659‌

0.36‌

0.00‌

6.00‌

42‌

2.69‌

b

290,227‌

0.36‌

c

0.00‌

c

6.38‌

c

45‌

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

382

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

8.8

INFLATION-LINKED

BOND

FUND

Institutional

Class:

9/30/22

#

$

11

.84‌

$

0

.57‌

$

(

1

.39‌

)

$

(

0

.82‌

)

$

(

0

.53‌

)

$

—‌

$

(

0

.53‌

)

$

10

.49‌

3/31/22

12

.24‌

0

.74‌

(

0

.28‌

)

0

.46‌

(

0

.73‌

)

(

0

.13‌

)

(

0

.86‌

)

11

.84‌

3/31/21

11

.54‌

0

.16‌

0

.71‌

0

.87‌

(

0

.17‌

)

—‌

(

0

.17‌

)

12

.24‌

3/31/20

11

.29‌

0

.29‌

0

.20‌

0

.49‌

(

0

.24‌

)

—‌

(

0

.24‌

)

11

.54‌

3/31/19

11

.28‌

0

.24‌

0

.05‌

0

.29‌

(

0

.28‌

)

—‌

(

0

.28‌

)

11

.29‌

3/31/18

11

.48‌

0

.23‌

(

0

.20‌

)

0

.03‌

(

0

.23‌

)

—‌

(

0

.23‌

)

11

.28‌

Advisor

Class:

9/30/22

#

11

.84‌

0

.56‌

(

1

.39‌

)

(

0

.83‌

)

(

0

.52‌

)

—‌

(

0

.52‌

)

10

.49‌

3/31/22

12

.24‌

0

.74‌

(

0

.29‌

)

0

.45‌

(

0

.72‌

)

(

0

.13‌

)

(

0

.85‌

)

11

.84‌

3/31/21

11

.55‌

0

.16‌

0

.69‌

0

.85‌

(

0

.16‌

)

—‌

(

0

.16‌

)

12

.24‌

3/31/20

11

.29‌

0

.21‌

0

.28‌

0

.49‌

(

0

.23‌

)

—‌

(

0

.23‌

)

11

.55‌

3/31/19

11

.28‌

0

.16‌

0

.12‌

0

.28‌

(

0

.27‌

)

—‌

(

0

.27‌

)

11

.29‌

3/31/18

11

.48‌

0

.21‌

(

0

.20‌

)

0

.01‌

(

0

.21‌

)

—‌

(

0

.21‌

)

11

.28‌

Premier

Class:

9/30/22

#

11

.82‌

0

.54‌

(

1

.37‌

)

(

0

.83‌

)

(

0

.52‌

)

—‌

(

0

.52‌

)

10

.47‌

3/31/22

12

.22‌

0

.78‌

(

0

.34‌

)

0

.44‌

(

0

.71‌

)

(

0

.13‌

)

(

0

.84‌

)

11

.82‌

3/31/21

11

.52‌

0

.16‌

0

.69‌

0

.85‌

(

0

.15‌

)

—‌

(

0

.15‌

)

12

.22‌

3/31/20

11

.26‌

0

.28‌

0

.20‌

0

.48‌

(

0

.22‌

)

—‌

(

0

.22‌

)

11

.52‌

3/31/19

11

.25‌

0

.21‌

0

.06‌

0

.27‌

(

0

.26‌

)

—‌

(

0

.26‌

)

11

.26‌

3/31/18

11

.45‌

0

.22‌

(

0

.21‌

)

0

.01‌

(

0

.21‌

)

—‌

(

0

.21‌

)

11

.25‌

Retirement

Class:

9/30/22

#

11

.94‌

0

.55‌

(

1

.40‌

)

(

0

.85‌

)

(

0

.51‌

)

—‌

(

0

.51‌

)

10

.58‌

3/31/22

12

.34‌

0

.73‌

(

0

.30‌

)

0

.43‌

(

0

.70‌

)

(

0

.13‌

)

(

0

.83‌

)

11

.94‌

3/31/21

11

.63‌

0

.14‌

0

.71‌

0

.85‌

(

0

.14‌

)

—‌

(

0

.14‌

)

12

.34‌

3/31/20

11

.36‌

0

.28‌

0

.19‌

0

.47‌

(

0

.20‌

)

—‌

(

0

.20‌

)

11

.63‌

3/31/19

11

.36‌

0

.17‌

0

.09‌

0

.26‌

(

0

.26‌

)

—‌

(

0

.26‌

)

11

.36‌

3/31/18

11

.56‌

0

.21‌

(

0

.21‌

)

—‌

(

0

.20‌

)

—‌

(

0

.20‌

)

11

.36‌

Retail

Class:

9/30/22

#

11

.51‌

0

.53‌

(

1

.35‌

)

(

0

.82‌

)

(

0

.51‌

)

—‌

(

0

.51‌

)

10

.18‌

3/31/22

11

.92‌

0

.70‌

(

0

.28‌

)

0

.42‌

(

0

.70‌

)

(

0

.13‌

)

(

0

.83‌

)

11

.51‌

3/31/21

11

.25‌

0

.13‌

0

.67‌

0

.80‌

(

0

.13‌

)

—‌

(

0

.13‌

)

11

.92‌

3/31/20

10

.99‌

0

.23‌

0

.23‌

0

.46‌

(

0

.20‌

)

—‌

(

0

.20‌

)

11

.25‌

3/31/19

11

.00‌

0

.16‌

0

.08‌

0

.24‌

(

0

.25‌

)

—‌

(

0

.25‌

)

10

.99‌

3/31/18

11

.20‌

0

.19‌

(

0

.20‌

)

(

0

.01‌

)

(

0

.19‌

)

—‌

(

0

.19‌

)

11

.00‌

Class

W:

9/30/22

#

11

.84‌

0

.57‌

(

1

.38‌

)

(

0

.81‌

)

(

0

.54‌

)

—‌

(

0

.54‌

)

10

.49‌

3/31/22

12

.24‌

0

.78‌

(

0

.29‌

)

0

.49‌

(

0

.76‌

)

(

0

.13‌

)

(

0

.89‌

)

11

.84‌

3/31/21

11

.54‌

0

.21‌

0

.68‌

0

.89‌

(

0

.19‌

)

—‌

(

0

.19‌

)

12

.24‌

3/31/20

11

.29‌

0

.31‌

0

.21‌

0

.52‌

(

0

.27‌

)

—‌

(

0

.27‌

)

11

.54‌

3/31/19

†

11

.13‌

0

.02‌

0

.26‌

0

.28‌

(

0

.12‌

)

—‌

(

0

.12‌

)

11

.29‌

#

Unaudited

†

Class

W

commenced

operations

on

September

28,

2018.

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.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

383

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(

7

.08‌

)

%

b

$

579,720‌

0

.25‌

%

c

0

.23‌

%

c

9

.90‌

%

c

4‌

%

b

3

.76‌

866,667‌

0

.25‌

0

.23‌

6

.00‌

21‌

f

7

.53‌

1,209,995‌

0

.25‌

0

.23‌

1

.31‌

27‌

4

.36‌

1,692,282‌

0

.26‌

0

.24‌

2

.56‌

26‌

2

.67‌

1,634,250‌

0

.26‌

0

.26‌

2

.12‌

21‌

0

.23‌

2,542,095‌

0

.26‌

0

.26‌

2

.05‌

17‌

(

7

.13‌

)

b

130,213‌

0

.35‌

c

0

.33‌

c

9

.73‌

c

4‌

b

3

.58‌

159,518‌

0

.35‌

0

.33‌

6

.00‌

21‌

f

7

.43‌

123,505‌

0

.34‌

0

.32‌

1

.31‌

27‌

4

.38‌

141,821‌

0

.34‌

0

.32‌

1

.79‌

26‌

2

.52‌

300‌

0

.36‌

0

.36‌

1

.47‌

21‌

0

.12‌

270‌

0

.42‌

0

.41‌

1

.88‌

17‌

(

7

.17‌

)

b

2,545‌

0

.40‌

c

0

.38‌

c

9

.55‌

c

4‌

b

3

.61‌

2,627‌

0

.40‌

0

.38‌

6

.25‌

21‌

f

7

.38‌

8,211‌

0

.40‌

0

.38‌

1

.34‌

27‌

4

.26‌

3,068‌

0

.41‌

0

.39‌

2

.42‌

26‌

2

.44‌

3,490‌

0

.41‌

0

.41‌

1

.86‌

21‌

0

.08‌

10,811‌

0

.41‌

0

.41‌

1

.90‌

17‌

(

7

.23‌

)

b

149,517‌

0

.50‌

c

0

.48‌

c

9

.58‌

c

4‌

b

3

.47‌

172,924‌

0

.50‌

0

.48‌

5

.86‌

21‌

f

7

.29‌

178,970‌

0

.50‌

0

.48‌

1

.17‌

27‌

4

.18‌

188,609‌

0

.51‌

0

.49‌

2

.37‌

26‌

2

.31‌

222,321‌

0

.51‌

0

.51‌

1

.50‌

21‌

(

0

.03‌

)

231,263‌

0

.51‌

0

.51‌

1

.81‌

17‌

(

7

.27‌

)

b

131,812‌

0

.56‌

c

0

.54‌

c

9

.54‌

c

4‌

b

3

.48‌

157,227‌

0

.57‌

0

.52‌

5

.81‌

21‌

f

7

.12‌

150,264‌

0

.56‌

0

.54‌

1

.13‌

27‌

4

.07‌

149,027‌

0

.57‌

0

.55‌

2

.06‌

26‌

2

.32‌

101,245‌

0

.58‌

0

.58‌

1

.46‌

21‌

(

0

.14‌

)

110,279‌

0

.59‌

0

.59‌

1

.70‌

17‌

(

6

.97‌

)

b

1,692,562‌

0

.25‌

c

0.00‌

c

10

.03‌

c

4‌

b

4

.00‌

1,908,794‌

0

.25‌

0.00‌

6

.31‌

21‌

f

7

.77‌

1,746,530‌

0

.25‌

0.00‌

1

.71‌

27‌

4

.67‌

1,252,667‌

0

.26‌

0.00‌

2

.70‌

26‌

2

.56‌

b

1,132,698‌

0

.26‌

c

0.00‌

c

0

.31‌

c

21‌

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

384

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

8.9

SHORT

DURATION

IMPACT

BOND

FUND

Institutional

Class:

9/30/22

#

$

9

.82‌

$

0

.11‌

$

(

0

.31‌

)

$

(

0

.20‌

)

$

(

0

.11‌

)

$

—‌

$

(

0

.11‌

)

$

9

.51‌

3/31/22

10

.25‌

0

.15‌

(

0

.38‌

)

(

0

.23‌

)

(

0

.15‌

)

(

0

.05‌

)

(

0

.20‌

)

9

.82‌

3/31/21

9

.86‌

0

.20‌

0

.48‌

0

.68‌

(

0

.20‌

)

(

0

.09‌

)

(

0

.29‌

)

10

.25‌

3/31/20

10

.08‌

0

.28‌

(

0

.17‌

)

0

.11‌

(

0

.28‌

)

(

0

.05‌

)

(

0

.33‌

)

9

.86‌

3/31/19*

10

.00‌

0

.12‌

0

.08‌

0

.20‌

(

0

.12‌

)

—‌

(

0

.12‌

)

10

.08‌

Advisor

Class:

9/30/22

#

9

.82‌

0

.11‌

(

0

.31‌

)

(

0

.20‌

)

(

0

.11‌

)

—‌

(

0

.11‌

)

9

.51‌

3/31/22

10

.25‌

0

.15‌

(

0

.38‌

)

(

0

.23‌

)

(

0

.15‌

)

(

0

.05‌

)

(

0

.20‌

)

9

.82‌

3/31/21

9

.86‌

0

.20‌

0

.48‌

0

.68‌

(

0

.20‌

)

(

0

.09‌

)

(

0

.29‌

)

10

.25‌

3/31/20

10

.08‌

0

.28‌

(

0

.17‌

)

0

.11‌

(

0

.28‌

)

(

0

.05‌

)

(

0

.33‌

)

9

.86‌

3/31/19*

10

.00‌

0

.11‌

0

.08‌

0

.19‌

(

0

.11‌

)

—‌

(

0

.11‌

)

10

.08‌

Premier

Class:

9/30/22

#

9

.82‌

0

.10‌

(

0

.31‌

)

(

0

.21‌

)

(

0

.10‌

)

—‌

(

0

.10‌

)

9

.51‌

3/31/22

10

.25‌

0

.14‌

(

0

.38‌

)

(

0

.24‌

)

(

0

.14‌

)

(

0

.05‌

)

(

0

.19‌

)

9

.82‌

3/31/21

9

.86‌

0

.19‌

0

.48‌

0

.67‌

(

0

.19‌

)

(

0

.09‌

)

(

0

.28‌

)

10

.25‌

3/31/20

10

.08‌

0

.27‌

(

0

.17‌

)

0

.10‌

(

0

.27‌

)

(

0

.05‌

)

(

0

.32‌

)

9

.86‌

3/31/19*

10

.00‌

0

.11‌

0

.08‌

0

.19‌

(

0

.11‌

)

—‌

(

0

.11‌

)

10

.08‌

Retirement

Class:

9/30/22

#

9

.82‌

0

.10‌

(

0

.31‌

)

(

0

.21‌

)

(

0

.10‌

)

—‌

(

0

.10‌

)

9

.51‌

3/31/22

10

.25‌

0

.13‌

(

0

.38‌

)

(

0

.25‌

)

(

0

.13‌

)

(

0

.05‌

)

(

0

.18‌

)

9

.82‌

3/31/21

9

.86‌

0

.18‌

0

.48‌

0

.66‌

(

0

.18‌

)

(

0

.09‌

)

(

0

.27‌

)

10

.25‌

3/31/20

10

.08‌

0

.25‌

(

0

.16‌

)

0

.09‌

(

0

.26‌

)

(

0

.05‌

)

(

0

.31‌

)

9

.86‌

3/31/19*

10

.00‌

0

.11‌

0

.08‌

0

.19‌

(

0

.11‌

)

—‌

(

0

.11‌

)

10

.08‌

Retail

Class:

9/30/22

#

9

.82‌

0

.10‌

(

0

.31‌

)

(

0

.21‌

)

(

0

.10‌

)

—‌

(

0

.10‌

)

9

.51‌

3/31/22

10

.25‌

0

.13‌

(

0

.38‌

)

(

0

.25‌

)

(

0

.13‌

)

(

0

.05‌

)

(

0

.18‌

)

9

.82‌

3/31/21

9

.86‌

0

.18‌

0

.48‌

0

.66‌

(

0

.18‌

)

(

0

.09‌

)

(

0

.27‌

)

10

.25‌

3/31/20

10

.08‌

0

.25‌

(

0

.17‌

)

0

.08‌

(

0

.25‌

)

(

0

.05‌

)

(

0

.30‌

)

9

.86‌

3/31/19*

10

.00‌

0

.11‌

0

.08‌

0

.19‌

(

0

.11‌

)

—‌

(

0

.11‌

)

10

.08‌

#

Unaudited

*

The

Fund

commenced

operations

on

November

16,

2018.

a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

See

notes

to

financial

statements

385

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(

2

.07‌

)

%

b

$

33,135‌

0

.89‌

%

c

0

.34‌

%

c

2

.27‌

%

c

103‌

%

b

(

2

.29‌

)

24,494‌

0

.96‌

0

.35‌

1

.50‌

76‌

6

.92‌

23,952‌

1

.06‌

0

.35‌

1

.99‌

136‌

1

.08‌

22,112‌

1

.18‌

0

.35‌

2

.77‌

103‌

1

.99‌

b

22,599‌

2

.89‌

c

0

.35‌

c

3

.17‌

c

39‌

b

(

2

.09‌

)

b

15,823‌

0

.94‌

c

0

.39‌

c

2

.32‌

c

103‌

b

(

2

.32‌

)

4,866‌

1

.01‌

0

.39‌

1

.47‌

76‌

6

.92‌

1,077‌

1

.06‌

0

.35‌

1

.99‌

136‌

1

.07‌

986‌

1

.18‌

0

.35‌

2

.77‌

103‌

1

.93‌

b

1,008‌

3

.27‌

c

0

.50‌

c

3

.01‌

c

39‌

b

(

2

.15‌

)

b

951‌

1

.04‌

c

0

.49‌

c

2

.07‌

c

103‌

b

(

2

.44‌

)

982‌

1

.12‌

0

.50‌

1

.35‌

76‌

6

.76‌

1,025‌

1

.21‌

0

.50‌

1

.84‌

136‌

0

.93‌

986‌

1

.34‌

0

.50‌

2

.62‌

103‌

1

.93‌

b

1,008‌

3

.42‌

c

0

.50‌

c

3

.01‌

c

39‌

b

(

2

.19‌

)

b

6,197‌

1

.14‌

c

0

.60‌

c

1

.98‌

c

103‌

b

(

2

.51‌

)

5,683‌

1

.22‌

0

.57‌

1

.28‌

76‌

6

.66‌

4,737‌

1

.31‌

0

.60‌

1

.72‌

136‌

0

.83‌

3,260‌

1

.43‌

0

.60‌

2

.51‌

103‌

1

.90‌

b

1,095‌

3

.50‌

c

0

.60‌

c

2

.91‌

c

39‌

b

(

2

.18‌

)

b

3,170‌

1

.11‌

c

0

.56‌

c

2

.04‌

c

103‌

b

(

2

.54‌

)

2,232‌

1

.89‌

0

.60‌

1

.24‌

76‌

6

.67‌

2,207‌

1

.40‌

0

.59‌

1

.71‌

136‌

0

.74‌

1,233‌

1

.61‌

0

.68‌

2

.44‌

103‌

1

.87‌

b

1,118‌

3

.85‌

c

0

.68‌

c

2

.84‌

c

39‌

b

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

386

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

9.01

SHORT-TERM

BOND

FUND

Institutional

Class:

9/30/22

#

$

10

.12‌

$

0

.13‌

$

(

0

.33‌

)

$

(

0

.20‌

)

$

(

0

.13‌

)

$

—‌

$

(

0

.13‌

)

$

9

.79‌

3/31/22

10

.47‌

0

.16‌

(

0

.34‌

)

(

0

.18‌

)

(

0

.16‌

)

(

0

.01‌

)

(

0

.17‌

)

10

.12‌

3/31/21

10

.22‌

0

.17‌

0

.26‌

0

.43‌

(

0

.17‌

)

(

0

.01‌

)

(

0

.18‌

)

10

.47‌

3/31/20

10

.29‌

0

.27‌

(

0

.07‌

)

0

.20‌

(

0

.27‌

)

—‌

(

0

.27‌

)

10

.22‌

3/31/19

10

.25‌

0

.26‌

0

.04‌

0

.30‌

(

0

.26‌

)

—‌

(

0

.26‌

)

10

.29‌

3/31/18

10

.34‌

0

.20‌

(

0

.08‌

)

0

.12‌

(

0

.20‌

)

(

0

.01‌

)

(

0

.21‌

)

10

.25‌

Advisor

Class:

9/30/22

#

10

.12‌

0

.12‌

(

0

.34‌

)

(

0

.22‌

)

(

0

.12‌

)

—‌

(

0

.12‌

)

9

.78‌

3/31/22

10

.46‌

0

.15‌

(

0

.33‌

)

(

0

.18‌

)

(

0

.15‌

)

(

0

.01‌

)

(

0

.16‌

)

10

.12‌

3/31/21

10

.21‌

0

.16‌

0

.27‌

0

.43‌

(

0

.17‌

)

(

0

.01‌

)

(

0

.18‌

)

10

.46‌

3/31/20

10

.29‌

0

.26‌

(

0

.08‌

)

0

.18‌

(

0

.26‌

)

—‌

(

0

.26‌

)

10

.21‌

3/31/19

10

.24‌

0

.27‌

0

.03‌

0

.30‌

(

0

.25‌

)

—‌

(

0

.25‌

)

10

.29‌

3/31/18

10

.34‌

0

.20‌

(

0

.09‌

)

0

.11‌

(

0

.20‌

)

(

0

.01‌

)

(

0

.21‌

)

10

.24‌

Premier

Class:

9/30/22

#

10

.13‌

0

.12‌

(

0

.33‌

)

(

0

.21‌

)

(

0

.12‌

)

—‌

(

0

.12‌

)

9

.80‌

3/31/22

10

.48‌

0

.15‌

(

0

.34‌

)

(

0

.19‌

)

(

0

.15‌

)

(

0

.01‌

)

(

0

.16‌

)

10

.13‌

3/31/21

10

.23‌

0

.16‌

0

.26‌

0

.42‌

(

0

.16‌

)

(

0

.01‌

)

(

0

.17‌

)

10

.48‌

3/31/20

10

.30‌

0

.26‌

(

0

.07‌

)

0

.19‌

(

0

.26‌

)

—‌

(

0

.26‌

)

10

.23‌

3/31/19

10

.26‌

0

.25‌

0

.04‌

0

.29‌

(

0

.25‌

)

—‌

(

0

.25‌

)

10

.30‌

3/31/18

10

.35‌

0

.18‌

(

0

.07‌

)

0

.11‌

(

0

.19‌

)

(

0

.01‌

)

(

0

.20‌

)

10

.26‌

Retirement

Class:

9/30/22

#

10

.13‌

0

.12‌

(

0

.33‌

)

(

0

.21‌

)

(

0

.12‌

)

—‌

(

0

.12‌

)

9

.80‌

3/31/22

10

.48‌

0

.14‌

(

0

.34‌

)

(

0

.20‌

)

(

0

.14‌

)

(

0

.01‌

)

(

0

.15‌

)

10

.13‌

3/31/21

10

.23‌

0

.15‌

0

.26‌

0

.41‌

(

0

.15‌

)

(

0

.01‌

)

(

0

.16‌

)

10

.48‌

3/31/20

10

.30‌

0

.25‌

(

0

.07‌

)

0

.18‌

(

0

.25‌

)

—‌

(

0

.25‌

)

10

.23‌

3/31/19

10

.26‌

0

.24‌

0

.04‌

0

.28‌

(

0

.24‌

)

—‌

(

0

.24‌

)

10

.30‌

3/31/18

10

.35‌

0

.17‌

(

0

.07‌

)

0

.10‌

(

0

.18‌

)

(

0

.01‌

)

(

0

.19‌

)

10

.26‌

Retail

Class:

9/30/22

#

10

.13‌

0

.11‌

(

0

.34‌

)

(

0

.23‌

)

(

0

.11‌

)

—‌

(

0

.11‌

)

9

.79‌

3/31/22

10

.47‌

0

.13‌

(

0

.33‌

)

(

0

.20‌

)

(

0

.13‌

)

(

0

.01‌

)

(

0

.14‌

)

10

.13‌

3/31/21

10

.23‌

0

.14‌

0

.25‌

0

.39‌

(

0

.14‌

)

(

0

.01‌

)

(

0

.15‌

)

10

.47‌

3/31/20

10

.30‌

0

.24‌

(

0

.07‌

)

0

.17‌

(

0

.24‌

)

—‌

(

0

.24‌

)

10

.23‌

3/31/19

10

.26‌

0

.23‌

0

.04‌

0

.27‌

(

0

.23‌

)

—‌

(

0

.23‌

)

10

.30‌

3/31/18

10

.35‌

0

.17‌

(

0

.08‌

)

0

.09‌

(

0

.17‌

)

(

0

.01‌

)

(

0

.18‌

)

10

.26‌

Class

W:

9/30/22

#

10

.12‌

0

.14‌

(

0

.33‌

)

(

0

.19‌

)

(

0

.14‌

)

—‌

(

0

.14‌

)

9

.79‌

3/31/22

10

.46‌

0

.19‌

(

0

.33‌

)

(

0

.14‌

)

(

0

.19‌

)

(

0

.01‌

)

(

0

.20‌

)

10

.12‌

3/31/21

10

.22‌

0

.20‌

0

.25‌

0

.45‌

(

0

.20‌

)

(

0

.01‌

)

(

0

.21‌

)

10

.46‌

3/31/20

10

.29‌

0

.30‌

(

0

.07‌

)

0

.23‌

(

0

.30‌

)

—‌

(

0

.30‌

)

10

.22‌

3/31/19

†

10

.20‌

0

.15‌

0

.09‌

0

.24‌

(

0

.15‌

)

—‌

(

0

.15‌

)

10

.29‌

#

Unaudited

†

Class

W

commenced

operations

on

September

28,

2018.

a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

See

notes

to

financial

statements

387

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

Portfolio

turnover

rate

excluding

mortgage

dollar

rolls

(

2

.01‌

)

%

b

$

571,677‌

0

.27‌

%

c

0

.27‌

%

c

2

.56‌

%

c

65‌

%

b

65‌

%

b

(

1

.70‌

)

523,478‌

0

.26‌

0

.26‌

1

.56‌

104‌

104‌

4

.23‌

666,050‌

0

.26‌

0

.26‌

1

.66‌

167‌

161‌

1

.95‌

616,292‌

0

.27‌

0

.27‌

2

.63‌

139‌

139‌

2

.99‌

902,950‌

0

.27‌

0

.27‌

2

.52‌

118‌

118‌

1

.14‌

1,462,512‌

0

.27‌

0

.27‌

1

.95‌

77‌

77‌

(

2

.16‌

)

b

159,359‌

0

.36‌

c

0

.36‌

c

2

.43‌

c

65‌

b

65‌

b

(

1

.70‌

)

235,228‌

0

.35‌

0

.35‌

1

.48‌

104‌

104‌

4

.15‌

230,355‌

0

.35‌

0

.35‌

1

.57‌

167‌

161‌

1

.76‌

169,158‌

0

.35‌

0

.35‌

2

.51‌

139‌

139‌

3

.00‌

7,875‌

0

.40‌

0

.40‌

2

.72‌

118‌

118‌

1

.02‌

286‌

0

.29‌

0

.29‌

1

.98‌

77‌

77‌

(

2

.08‌

)

b

3,615‌

0

.42‌

c

0

.42‌

c

2

.41‌

c

65‌

b

65‌

b

(

1

.85‌

)

3,733‌

0

.42‌

0

.42‌

1

.42‌

104‌

104‌

4

.07‌

3,199‌

0

.41‌

0

.41‌

1

.55‌

167‌

161‌

1

.80‌

4,195‌

0

.42‌

0

.42‌

2

.50‌

139‌

139‌

2

.83‌

8,522‌

0

.42‌

0

.42‌

2

.39‌

118‌

118‌

0

.99‌

11,705‌

0

.42‌

0

.42‌

1

.78‌

77‌

77‌

(

2

.13‌

)

b

135,438‌

0

.52‌

c

0

.52‌

c

2

.32‌

c

65‌

b

65‌

b

(

1

.95‌

)

118,117‌

0

.51‌

0

.51‌

1

.31‌

104‌

104‌

3

.97‌

142,261‌

0

.51‌

0

.51‌

1

.40‌

167‌

161‌

1

.70‌

112,810‌

0

.52‌

0

.52‌

2

.37‌

139‌

139‌

2

.73‌

110,523‌

0

.52‌

0

.52‌

2

.31‌

118‌

118‌

0

.89‌

100,591‌

0

.52‌

0

.52‌

1

.69‌

77‌

77‌

(

2

.26‌

)

b

130,048‌

0

.57‌

c

0

.57‌

c

2

.25‌

c

65‌

b

65‌

b

(

1

.88‌

)

143,840‌

0

.57‌

0

.54‌

1

.28‌

104‌

104‌

3

.82‌

162,317‌

0

.56‌

0

.56‌

1

.37‌

167‌

161‌

1

.65‌

173,174‌

0

.57‌

0

.57‌

2

.31‌

139‌

139‌

2

.67‌

111,808‌

0

.58‌

0

.58‌

2

.24‌

118‌

118‌

0

.84‌

126,010‌

0

.57‌

0

.57‌

1

.65‌

77‌

77‌

(

1

.88‌

)

b

854,994‌

0

.27‌

c

0.00‌

c

2

.82‌

c

65‌

b

65‌

b

(

1

.35‌

)

972,321‌

0

.26‌

0.00‌

1

.83‌

104‌

104‌

4

.41‌

955,303‌

0

.26‌

0.00‌

1

.91‌

167‌

161‌

2

.22‌

734,717‌

0

.27‌

0.00‌

2

.90‌

139‌

139‌

2

.38‌

b

843,472‌

0

.27‌

c

0.00‌

c

2

.96‌

c

118‌

118‌

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

388

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

9.1

SHORT-TERM

BOND

INDEX

FUND

Institutional

Class:

9/30/22

#

$

9

.72‌

$

0

.05‌

$

(

0

.26‌

)

$

(

0

.21‌

)

$

(

0

.05‌

)

$

—‌

$

(

0

.05‌

)

$

9

.46‌

3/31/22

10

.11‌

0

.05‌

(

0

.35‌

)

(

0

.30‌

)

(

0

.05‌

)

(

0

.04‌

)

(

0

.09‌

)

9

.72‌

3/31/21

10

.12‌

0

.13‌

0

.02‌

0

.15‌

(

0

.13‌

)

(

0

.03‌

)

(

0

.16‌

)

10

.11‌

3/31/20

9

.91‌

0

.22‌

0

.21‌

0

.43‌

(

0

.22‌

)

—‌

(

0

.22‌

)

10

.12‌

3/31/19

9

.84‌

0

.20‌

0

.08‌

0

.28‌

(

0

.21‌

)

—‌

(

0

.21‌

)

9

.91‌

3/31/18

9

.97‌

0

.14‌

(

0

.13‌

)

0

.01‌

(

0

.14‌

)

—‌

(

0

.14‌

)

9

.84‌

Advisor

Class:

9/30/22

#

9

.71‌

0

.05‌

(

0

.26‌

)

(

0

.21‌

)

(

0

.05‌

)

—‌

(

0

.05‌

)

9

.45‌

3/31/22

10

.11‌

0

.04‌

(

0

.36‌

)

(

0

.32‌

)

(

0

.04‌

)

(

0

.04‌

)

(

0

.08‌

)

9

.71‌

3/31/21

10

.12‌

0

.12‌

0

.02‌

0

.14‌

(

0

.12‌

)

(

0

.03‌

)

(

0

.15‌

)

10

.11‌

3/31/20

9

.91‌

0

.21‌

0

.21‌

0

.42‌

(

0

.21‌

)

—‌

(

0

.21‌

)

10

.12‌

3/31/19

9

.84‌

0

.20‌

0

.07‌

0

.27‌

(

0

.20‌

)

—‌

(

0

.20‌

)

9

.91‌

3/31/18

9

.97‌

0

.13‌

(

0

.13‌

)

—‌

(

0

.13‌

)

—‌

(

0

.13‌

)

9

.84‌

Premier

Class:

9/30/22

#

9

.71‌

0

.04‌

(

0

.25‌

)

(

0

.21‌

)

(

0

.05‌

)

—‌

(

0

.05‌

)

9

.45‌

3/31/22

10

.10‌

0

.04‌

(

0

.35‌

)

(

0

.31‌

)

(

0

.04‌

)

(

0

.04‌

)

(

0

.08‌

)

9

.71‌

3/31/21

10

.12‌

0

.12‌

0

.01‌

0

.13‌

(

0

.12‌

)

(

0

.03‌

)

(

0

.15‌

)

10

.10‌

3/31/20

9

.90‌

0

.21‌

0

.22‌

0

.43‌

(

0

.21‌

)

—‌

(

0

.21‌

)

10

.12‌

3/31/19

9

.83‌

0

.20‌

0

.07‌

0

.27‌

(

0

.20‌

)

—‌

(

0

.20‌

)

9

.90‌

3/31/18

9

.97‌

0

.13‌

(

0

.14‌

)

(

0

.01‌

)

(

0

.13‌

)

—‌

(

0

.13‌

)

9

.83‌

Retirement

Class:

9/30/22

#

9

.71‌

0

.04‌

(

0

.25‌

)

(

0

.21‌

)

(

0

.04‌

)

—‌

(

0

.04‌

)

9

.46‌

3/31/22

10

.11‌

0

.03‌

(

0

.36‌

)

(

0

.33‌

)

(

0

.03‌

)

(

0

.04‌

)

(

0

.07‌

)

9

.71‌

3/31/21

10

.12‌

0

.10‌

0

.03‌

0

.13‌

(

0

.11‌

)

(

0

.03‌

)

(

0

.14‌

)

10

.11‌

3/31/20

9

.91‌

0

.19‌

0

.22‌

0

.41‌

(

0

.20‌

)

—‌

(

0

.20‌

)

10

.12‌

3/31/19

9

.84‌

0

.19‌

0

.07‌

0

.26‌

(

0

.19‌

)

—‌

(

0

.19‌

)

9

.91‌

3/31/18

9

.97‌

0

.12‌

(

0

.13‌

)

(

0

.01‌

)

(

0

.12‌

)

—‌

(

0

.12‌

)

9

.84‌

Retail

Class:

9/30/22

#

9

.71‌

0

.04‌

(

0

.26‌

)

(

0

.22‌

)

(

0

.04‌

)

—‌

(

0

.04‌

)

9

.45‌

3/31/22

10

.11‌

0

.02‌

(

0

.36‌

)

(

0

.34‌

)

(

0

.02‌

)

(

0

.04‌

)

(

0

.06‌

)

9

.71‌

3/31/21

10

.12‌

0

.10‌

0

.02‌

0

.12‌

(

0

.10‌

)

(

0

.03‌

)

(

0

.13‌

)

10

.11‌

3/31/20

9

.91‌

0

.19‌

0

.21‌

0

.40‌

(

0

.19‌

)

—‌

(

0

.19‌

)

10

.12‌

3/31/19

9

.84‌

0

.18‌

0

.07‌

0

.25‌

(

0

.18‌

)

—‌

(

0

.18‌

)

9

.91‌

3/31/18

9

.97‌

0

.11‌

(

0

.13‌

)

(

0

.02‌

)

(

0

.11‌

)

—‌

(

0

.11‌

)

9

.84‌

Class

W:

9/30/22

#

9

.72‌

0

.06‌

(

0

.26‌

)

(

0

.20‌

)

(

0

.06‌

)

—‌

(

0

.06‌

)

9

.46‌

3/31/22

10

.11‌

0

.06‌

(

0

.35‌

)

(

0

.29‌

)

(

0

.06‌

)

(

0

.04‌

)

(

0

.10‌

)

9

.72‌

3/31/21

10

.12‌

0

.14‌

0

.02‌

0

.16‌

(

0

.14‌

)

(

0

.03‌

)

(

0

.17‌

)

10

.11‌

3/31/20

9

.91‌

0

.23‌

0

.21‌

0

.44‌

(

0

.23‌

)

—‌

(

0

.23‌

)

10

.12‌

3/31/19

†

9

.80‌

0

.12‌

0

.11‌

0

.23‌

(

0

.12‌

)

—‌

(

0

.12‌

)

9

.91‌

#

Unaudited

†

Class

W

commenced

operations

on

September

28,

2018.

a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

See

notes

to

financial

statements

389

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(

2

.13‌

)

%

b

$

72,545‌

0

.09‌

%

c

0

.09‌

%

c

1

.11‌

%

c

39‌

%

b

(

2

.94‌

)

77,863‌

0

.10‌

0

.10‌

0

.54‌

49‌

1

.45‌

77,335‌

0

.11‌

0

.11‌

1

.26‌

48‌

4

.41‌

54,735‌

0

.13‌

0

.12‌

2

.21‌

66‌

2

.92‌

43,990‌

0

.15‌

0

.06‌

2

.05‌

61‌

0

.11‌

328,156‌

0

.18‌

0

.08‌

1

.45‌

57‌

(

2

.19‌

)

b

977‌

0

.20‌

c

0

.20‌

c

1

.00‌

c

39‌

b

(

3

.16‌

)

789‌

0

.22‌

0

.22‌

0

.43‌

49‌

1

.32‌

696‌

0

.24‌

0

.24‌

1

.14‌

48‌

4

.25‌

645‌

0

.27‌

0

.27‌

2

.09‌

66‌

2

.78‌

868‌

0

.29‌

0

.23‌

2

.08‌

61‌

(

0

.03‌

)

496‌

0

.38‌

0

.22‌

1

.32‌

57‌

(

2

.21‌

)

b

344‌

0

.24‌

c

0

.24‌

c

0

.88‌

c

39‌

b

(

3

.10‌

)

659‌

0

.26‌

0

.26‌

0

.38‌

49‌

1

.30‌

633‌

0

.26‌

0

.26‌

1

.14‌

48‌

4

.25‌

621‌

0

.28‌

0

.27‌

2

.06‌

66‌

2

.77‌

636‌

0

.31‌

0

.24‌

2

.02‌

61‌

(

0

.14‌

)

643‌

0

.34‌

0

.23‌

1

.28‌

57‌

(

2

.25‌

)

b

360,139‌

0

.34‌

c

0

.34‌

c

0

.87‌

c

39‌

b

(

3

.18‌

)

309,263‌

0

.35‌

0

.35‌

0

.29‌

49‌

1

.20‌

179,545‌

0

.36‌

0

.36‌

0

.98‌

48‌

4

.15‌

83,232‌

0

.38‌

0

.37‌

1

.96‌

66‌

2

.66‌

52,082‌

0

.40‌

0

.34‌

1

.96‌

61‌

(

0

.14‌

)

26,749‌

0

.43‌

0

.33‌

1

.22‌

57‌

(

2

.26‌

)

b

2,466‌

0

.35‌

c

0

.35‌

c

0

.84‌

c

39‌

b

(

3

.35‌

)

2,831‌

0

.83‌

0

.46‌

0

.18‌

49‌

1

.12‌

4,318‌

0

.44‌

0

.44‌

0

.94‌

48‌

4

.05‌

3,115‌

0

.50‌

0

.47‌

1

.87‌

66‌

2

.56‌

2,652‌

0

.58‌

0

.44‌

1

.84‌

61‌

(

0

.24‌

)

1,990‌

0

.64‌

0

.44‌

1

.06‌

57‌

(

2

.09‌

)

b

917,565‌

0

.09‌

c

0.00‌

c

1

.19‌

c

39‌

b

(

2

.85‌

)

970,293‌

0

.10‌

0.00‌

0

.64‌

49‌

1

.56‌

803,300‌

0

.11‌

0.00‌

1

.36‌

48‌

4

.53‌

532,333‌

0

.13‌

0.00‌

2

.33‌

66‌

2

.36‌

b

395,924‌

0

.14‌

c

0.00‌

c

2

.46‌

c

61‌

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

390

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

9.2

MONEY

MARKET

FUND

Institutional

Class:

9/30/22

#

$

1

.00‌

$

0

.01‌

$

0

.00‌

d

$

0

.01‌

$

(

0

.01‌

)

$

—‌

$

(

0

.01‌

)

$

1

.00‌

3/31/22

1

.00‌

—‌

—‌

—‌

—‌

—‌

—‌

1

.00‌

3/31/21

1

.00‌

0

.00‌

d

—‌

0

.00‌

d

(

0

.00‌

)

d

—‌

(

0

.00‌

)

d

1

.00‌

3/31/20

1

.00‌

0

.02‌

—‌

0

.02‌

(

0

.02‌

)

—‌

(

0

.02‌

)

1

.00‌

3/31/19

1

.00‌

0

.02‌

—‌

0

.02‌

(

0

.02‌

)

—‌

(

0

.02‌

)

1

.00‌

3/31/18

1

.00‌

0

.01‌

—‌

0

.01‌

(

0

.01‌

)

—‌

(

0

.01‌

)

1

.00‌

Advisor

Class:

9/30/22

#

1

.00‌

0

.01‌

0

.00‌

d

0

.01‌

(

0

.01‌

)

—‌

(

0

.01‌

)

1

.00‌

3/31/22

1

.00‌

—‌

—‌

—‌

—‌

—‌

—‌

1

.00‌

3/31/21

1

.00‌

0

.00‌

d

—‌

0

.00‌

d

(

0

.00‌

)

d

—‌

(

0

.00‌

)

d

1

.00‌

3/31/20

1

.00‌

0

.02‌

—‌

0

.02‌

(

0

.02‌

)

—‌

(

0

.02‌

)

1

.00‌

3/31/19

1

.00‌

0

.02‌

—‌

0

.02‌

(

0

.02‌

)

—‌

(

0

.02‌

)

1

.00‌

3/31/18

1

.00‌

0

.01‌

—‌

0

.01‌

(

0

.01‌

)

—‌

(

0

.01‌

)

1

.00‌

Premier

Class:

9/30/22

#

1

.00‌

0

.01‌

0

.00‌

d

0

.01‌

(

0

.01‌

)

—‌

(

0

.01‌

)

1

.00‌

3/31/22

1

.00‌

—‌

—‌

—‌

—‌

—‌

—‌

1

.00‌

3/31/21

1

.00‌

0

.00‌

d

—‌

0

.00‌

d

(

0

.00‌

)

d

—‌

(

0

.00‌

)

d

1

.00‌

3/31/20

1

.00‌

0

.02‌

—‌

0

.02‌

(

0

.02‌

)

—‌

(

0

.02‌

)

1

.00‌

3/31/19

1

.00‌

0

.02‌

—‌

0

.02‌

(

0

.02‌

)

—‌

(

0

.02‌

)

1

.00‌

3/31/18

1

.00‌

0

.01‌

—‌

0

.01‌

(

0

.01‌

)

—‌

(

0

.01‌

)

1

.00‌

Retirement

Class:

9/30/22

#

1

.00‌

0

.01‌

0

.00‌

d

0

.01‌

(

0

.01‌

)

—‌

(

0

.01‌

)

1

.00‌

3/31/22

1

.00‌

—‌

—‌

—‌

—‌

—‌

—‌

1

.00‌

3/31/21

1

.00‌

0

.00‌

d

—‌

0

.00‌

d

(

0

.00‌

)

d

—‌

(

0

.00‌

)

d

1

.00‌

3/31/20

1

.00‌

0

.02‌

—‌

0

.02‌

(

0

.02‌

)

—‌

(

0

.02‌

)

1

.00‌

3/31/19

1

.00‌

0

.02‌

—‌

0

.02‌

(

0

.02‌

)

—‌

(

0

.02‌

)

1

.00‌

3/31/18

1

.00‌

0

.01‌

—‌

0

.01‌

(

0

.01‌

)

—‌

(

0

.01‌

)

1

.00‌

Retail

Class:

9/30/22

#

1

.00‌

0

.00‌

d

0

.00‌

d

0

.00‌

d

(

0

.00‌

)

d

—‌

(

0

.00‌

)

d

1

.00‌

3/31/22

1

.00‌

—‌

—‌

—‌

—‌

—‌

—‌

1

.00‌

3/31/21

1

.00‌

0

.00‌

d

—‌

0

.00‌

d

(

0

.00‌

)

d

—‌

(

0

.00‌

)

d

1

.00‌

3/31/20

1

.00‌

0

.02‌

—‌

0

.02‌

(

0

.02‌

)

—‌

(

0

.02‌

)

1

.00‌

3/31/19

1

.00‌

0

.02‌

—‌

0

.02‌

(

0

.02‌

)

—‌

(

0

.02‌

)

1

.00‌

3/31/18

1

.00‌

0

.01‌

—‌

0

.01‌

(

0

.01‌

)

—‌

(

0

.01‌

)

1

.00‌

#

Unaudited

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.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

Notes

to

financial

statements

—

investment

adviser

and

0ther

transactions

with

affiliates.

See

notes

to

financial

statements

391

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

concluded

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)e

0

.62‌

%

b

$

915,049‌

0

.12‌

%

c

0

.12‌

%

c

1

.23‌

%

c

0

.00‌

886,508‌

0

.13‌

0

.07‌

0

.00‌

0

.10‌

811,301‌

0

.12‌

0

.12‌

0

.11‌

1

.87‌

1,089,417‌

0

.13‌

0

.13‌

1

.83‌

1

.98‌

704,326‌

0

.14‌

0

.14‌

1

.99‌

0

.96‌

487,762‌

0

.15‌

0

.15‌

0

.95‌

0

.60‌

b

847‌

0

.17‌

c

0

.17‌

c

1

.20‌

c

0

.00‌

967‌

0

.17‌

0

.07‌

0

.00‌

0

.15‌

1,018‌

0

.08‌

0

.07‌

0

.15‌

1

.86‌

1,225‌

0

.17‌

0

.17‌

1

.79‌

1

.94‌

1,426‌

0

.23‌

0

.23‌

2

.14‌

1

.04‌

100‌

0

.06‌

0

.06‌

1

.03‌

0

.56‌

b

30,869‌

0

.27‌

c

0

.24‌

c

1

.14‌

c

0

.00‌

27,746‌

0

.27‌

0

.07‌

0

.00‌

0

.04‌

36,011‌

0

.27‌

0

.16‌

0

.07‌

1

.73‌

441,375‌

0

.28‌

0

.28‌

1

.51‌

1

.83‌

28,209‌

0

.29‌

0

.28‌

1

.82‌

0

.80‌

44,548‌

0

.29‌

0

.29‌

0

.82‌

0

.56‌

b

290,002‌

0

.37‌

c

0

.24‌

c

1

.15‌

c

0

.00‌

246,142‌

0

.38‌

0

.07‌

0

.00‌

0

.04‌

270,402‌

0

.37‌

0

.18‌

0

.05‌

1

.72‌

330,963‌

0

.38‌

0

.28‌

1

.68‌

1

.83‌

210,963‌

0

.39‌

0

.29‌

1

.86‌

0

.70‌

126,187‌

0

.40‌

0

.40‌

0

.71‌

0

.48‌

b

282,701‌

0

.46‌

c

0

.41‌

c

0

.95‌

c

0

.00‌

289,028‌

0

.48‌

0

.07‌

0

.00‌

0

.02‌

311,011‌

0

.47‌

0

.20‌

0

.02‌

1

.54‌

332,054‌

0

.47‌

0

.46‌

1

.53‌

1

.66‌

309,452‌

0

.48‌

0

.45‌

1

.65‌

0

.62‌

303,155‌

0

.48‌

0

.48‌

0

.61‌

TIAA-CREF

Funds

392

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Notes

to

financial

statements

(unaudited)

Note

1—organization

TIAA-CREF

Funds

(the

“Trust”)

is

a

Delaware

statutory

trust

that

is

registered

with

the

U.S.

Securities

and

Exchange

Commission

(“SEC”)

under

the

Investment

Company

Act

of

1940,

as

amended

(“1940

Act”),

as

an

open-end

management

investment

company.

The

following

are

the

TIAA-CREF

Funds

included

in

this

report:

Bond

Index

Fund,

Core

Bond

Fund,

Core

Impact

Bond

Fund,

Core

Plus

Bond

Fund,

5–15

Year

Laddered

Tax-Exempt

Bond

Fund,

Green

Bond

Fund,

High-Yield

Fund,

Inflation-Linked

Bond

Fund,

Short

Duration

Impact

Bond

Fund,

Short-Term

Bond

Fund,

Short-Term

Bond

Index

Fund,

and

the

Money

Market

Fund

(collectively

the

“Funds”

or

individually,

the

“Fund”).

Teachers

Advisors,

LLC

(the

“Adviser”),

a

wholly

owned

indirect

subsidiary

of

Teachers

Insurance

and

Annuity

Association

of

America

(“TIAA”),

is

registered

with

the

SEC

as

an

investment

adviser

and

provides

investment

management

services

for

the

Funds.

The

Funds

offer

their

shares,

without

a

sales

load,

through

their

principal

underwriter,

Nuveen

Securities,

LLC

(“Nuveen

Securities”),

which

is

a

wholly

owned

indirect

subsidiary

of

TIAA.

The

Funds

offer

up

to

six

share

classes,

although

any

one

Fund

may

not

necessarily

offer

all

six

classes.

The

Funds

may

offer

Institutional

Class,

Advisor

Class, Premier

Class,

Retirement

Class, Retail

Class

and

Class

W

shares. Each

class

differs

by

the

allocation

of

class-specific

expenses

and

voting

rights

in

matters

affecting

a

single

class.

Note

2—significant

accounting

policies

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 Funds

are

investment

companies

and

follow

the

accounting

guidance

in

the

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies

. The net

asset

value (“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.

Investments

and

investment

income:

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Interest

income

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums.

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.

Securities

lending

income

is

comprised

of

fees

earned

from

borrowers

and

income

earned on

cash

collateral

investments. Realized

gains

and

losses

on

securities

transactions

are

based

upon

the

specific

identification

method.

Distributions

received

on

securities

that

represent

a

return

of

capital

or

capital

gains

are

recorded

as

a

reduction

of

cost

of

investments

and/or

as

a

realized

gain.

The

Funds estimate

the

components

of

distributions

received

that

may

be

considered

return

of

capital

distributions

or

capital

gain

distributions.

Multiclass

operations

and

allocations:

Income, expenses,

realized

gains

and

losses

and

unrealized

appreciation

and

depreciation

of

a

Fund

are

allocated

on

a

pro

rata

basis

to

each

class

of

shares,

except

for

service

agreement

fees,

distribution

fees

and

transfer

agency

fees

and

expenses, which

are

unique

to

each

class

of

shares.

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.

Distributions

to

shareholders:

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

currency

transactions

and

translation:

The

books

and

records

of

the

Funds

are

maintained

in

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

end

of

each

day.

Purchases

and

sales

of

securities,

income,

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

dates

of

the

transactions.

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

in

exchange

rates

associated

with

(i)

foreign

currency,

(ii)

investments

and

(iii)

derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

of

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

of

interest

and

dividends

recorded

on

the

books

of

the

Funds

and

the

amounts

actually

received

and

are

recognized

as

a

component

of

“Net

realized

gain

(loss)

on

total

investments”

on

the

Statements

of

operations,

when

applicable. 

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

currency

exchange

rates

and

changes

in

foreign

exchange

rates

associated

with

(i)

investments

and

(ii)

other

assets

and

liabilities

are

recognized

as

a

component

of

“Change

in

net

unrealized

appreciation

(depreciation)

of

investments

and

foreign

currency”

on

the

Statements

of

operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

exchange

rates

associated

with

investments

in

derivatives

are

recognized

as

a

component

of

the

respective

derivative’s

related “Change

in

unrealized

appreciation

(depreciation)

on

total

investments

and

foreign

currency”

on

the

Statements

of

operations,

when

applicable. 

393

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

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.

Amounts

payable

to

the

trustees

for

compensation

are

included

separately

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.

Indemnification:

 Under

the

Trust's

organizational

documents,

its

officers

and trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

In

addition,

in

the

normal

course

of

business,

the

Trust

enters

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the

Trust

that

have

not

yet

occurred.

However,

the

Trust

has

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

Other

matters:

The

outbreak

of

the

novel

coronavirus

(“COVID-19”)

and

subsequent

global

pandemic

began

significantly

impacting

the

U.S.

and

global

financial

markets

and

economies

during

the

calendar

quarter

ended

March

31,

2020.

The

worldwide

spread

of

COVID-19

has

created

significant

uncertainty

in

the

global

economy.

The

duration

and

extent

of

COVID-19

over

the

long

term

cannot

be

reasonably

estimated

at

this

time.

The

ultimate

impact

of

COVID-19

and

the

extent

to

which

COVID-19

impacts

the Funds’

normal

course

of

business,

results

of

operations,

investments,

and

cash

flows

will

depend

on

future

developments,

which

are

highly

uncertain

and

difficult

to

predict.

Management

continues

to

monitor

and

evaluate

this

situation.

New

accounting

pronouncement:

In

March

2020,

FASB

issued

Accounting

Standards

Update

(“ASU”)

2020-04,

Reference

Rate

Reform:

Facilitation

of

the

Effects

of

Reference

Rate

Reform

on

Financial

Reporting.

The

main

objective

of

the

new

guidance

is

to

provide

relief

to

companies

that

will

be

impacted

by

the

expected

change

in

benchmark

interest

rates,

when

participating

banks

will

no

longer

be

required

to

submit

London

Interbank

Offered

Rate

(LIBOR)

quotes

by

the

UK

Financial

Conduct

Authority

(FCA).

The

new

guidance

allows

companies

to,

provided

the

only

changes

to

existing

contracts are

a

change

to

an

approved

benchmark

interest

rate,

account

for

modifications

as

a

continuance

of

the

existing

contract

without

additional

analysis.

For

new

and

existing

contracts,

the Funds

may

elect

to

apply

the

amendments

as

of

March

12,

2020

through

December

31,

2022.

Management

has

not

yet

elected

to

apply

the

amendments,

is

continuously

evaluating

the

potential

effect

a

discontinuation

of

LIBOR

could

have

on

the Funds’

investments

and

has

currently

determined

that

it

is

unlikely

the

ASU’s

adoption

will

have

a significant

impact on

the Funds' financial

statements

and

various

filings.

New

rule

issuance:

 A

new

rule

adopted

by

the

SEC

governing

fund

valuation

practices,

Rule

2a-5

under

the

1940

Act,

has

established

requirements

for

determining

fair

value

in

good

faith

for

purposes

of

the

1940

Act.

Rule

2a-5

permits

fund

boards

to

designate

certain

parties

to

perform

fair

value

determinations,

subject

to

board

oversight

and

certain

other

conditions.

Rule

2a-5

also

defines

when

market

quotations

are

"readily

available"

for

purposes

of

Section

29(a)(41)

of

the

1940

Act,

which

requires

a

fund

to

fair

value

a

security

when

market

quotations

are

not

readily

available.

Separately,

new

SEC

Rule

31a-4

under

the

1940

Act

sets

forth

the

recordkeeping

requirements

associated

with

fair

value

determinations.

The Funds

adopted

a

valuation

policy

conforming

to

the

new

rules,

effective

September

1,

2022,

and

there

was

no

material

impact

to

the

Funds.

New

accounting

pronouncement:

 In

June

2022,

the

FASB

issued

ASU

2022-03

to

clarify

the

guidance

in

Topic

820,

Fair

Value

Measurement

(“Topic

820”).

The

amendments

in

ASU

2022-03

affect

all

entities

that

have

investments

in

equity

securities

measured

at

fair

value

that

are

subject

to

a

contractual

sale

restriction.

ASU

2022-03

(1)

clarifies

the

guidance

in

Topic

820,

when

measuring

the

fair

value

of

an

equity

security

subject

to

contractual

restrictions

that

prohibit

the

sale

of

an

equity

security,

(2)

amends

a

related

illustrative

example,

and

(3)

introduces

new

disclosure

requirements

for

equity

securities

subject

to

contractual

sale

restrictions

that

are

measured

at

fair

value

in

accordance

with

Topic

820.

For

public

business

entities,

the

amendments

in

ASU

2022-03

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

those

fiscal

years.

For

all

other

entities,

the

amendments

are

effective

for

fiscal

years

beginning

after

December

15,

2024,

and

interim

periods

within

those

fiscal

years.

Early

adoption

is

permitted

for

both

interim

and

annual

financial

statements

that

have

not

yet

been

issued

or

made

available

for

issuance.

Management

is

currently

assessing

the

impact

of

these

provisions

on

the

Funds' financial

statements.

Notes

to

financial

statements

(unaudited)

394

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

continued

Note

3—valuation

of

investments

The Funds'

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

the

review

and

oversight

of

the

Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

that

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level 1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the Funds'

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Debt

securities:

Prices

of

fixed-income

securities

are

provided

by

independent

pricing

services

(“pricing

services”)

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser and

oversight

of

the Board.

Pricing

services establish

a

security’s

fair

value

using

methods

that

may

include consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2.

Exchange-traded

equity

securities,

common

and

preferred

stock:

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported

sales

price

or

official

closing

price

of

such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported

sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the

valuation

date.

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

Adviser,

subject

to

the

oversight

of

the

Board.

To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1.

When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price,

these

securities

are

generally

classified

as

Level

2. 

The

Money

Market  Fund:

The

Money

Market

Fund’s

portfolio

securities

are

valued

on

an

amortized

cost

basis.

Money

Market

investments

are

generally

classified

as

Level

2.

Investments

in

registered

investment

companies:

Investments

in

investment

companies

are

valued

at

their

respective NAVs

on

the

valuation

date

and

are

generally

classified

as Level

1.

Repurchase

agreements:

Repurchase

agreements

are

valued

at

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

as

Level

2.

Futures

contracts:

Futures

contracts

are

valued

using

the

closing

settlement

price

or,

in

the

absence

of

such

a

price,

the

last

traded

price and

are

generally

classified

as

Level

1.

Swap

contracts:

Swap

contracts are

marked-to-market

daily

based

upon

a

price

supplied

by

pricing

services.

Swaps

are

generally

classified

as

Level

2.

For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as Level

2;

otherwise

they

would

be

classified

as

Level

3. 

395

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

The

following

table

summarizes

the

market

value

of

the Funds’

investments

as

of

September

30,

2022,

based

on

the

inputs

used

to

value

them:

Fund

Level

1

Level

2

Level

3

Total

Bond

Index

Corporate

bonds

$—

$4,568,333,313

$—

$4,568,333,313

Government

bonds

—

13,709,134,316

—

13,709,134,316

Structured

assets

—

474,867,784

—

474,867,784

Short-term

investments

263,564,431

196,818,150

—

460,382,581

Total

$263,564,431

$18,949,153,563

$—

$19,212,717,994

1

1

1

1

1

Core

Bond

Bank

loan

obligations

$—

$101,539,666

$291,769

$101,831,435

Corporate

bonds

—

3,147,548,606

3,076,319

3,150,624,925

Government

bonds

—

4,096,692,672

25,299,996

4,121,992,668

Structured

assets

—

1,433,961,804

7,322,733

1,441,284,537

Common

stocks

—

428,920

—

428,920

Preferred

stocks

10,635,963

—

—

10,635,963

Short-term

investments

72,742,537

356,650,925

—

429,393,462

Credit

default

swap

contracts*

—

2,224,724

—

2,224,724

Total

$83,378,500

$9,139,047,317

$35,990,817

$9,258,416,634

1

1

1

1

1

Core

Impact

Bond

Bank

loan

obligations

$—

$37,695,192

$—

$37,695,192

Corporate

bonds

—

1,921,673,639

—

1,921,673,639

Government

bonds

—

3,128,418,606

13,323,468

3,141,742,074

Structured

assets

—

786,175,454

2,226,909

788,402,363

Preferred

stocks

49,186,369

—

—

49,186,369

Short-term

investments

185,730,513

36,648,266

—

222,378,779

Total

$234,916,882

$5,910,611,157

$15,550,377

$6,161,078,416

1

1

1

1

1

Core

Plus

Bond

Bank

loan

obligations

$—

$67,089,880

$194,511

$67,284,391

Corporate

bonds

—

1,618,542,396

2,102,239

1,620,644,635

Government

bonds

—

1,658,740,998

13,494,588

1,672,235,586

Structured

assets

—

777,577,577

6,685,814

784,263,391

Common

stocks

—

539,874

15

539,889

Preferred

stocks

8,980,669

—

—

8,980,669

Short-term

investments

47,413,362

274,197,796

—

321,611,158

Credit

default

swap

contracts*

—

2,417,216

—

2,417,216

Total

$56,394,031

$4,399,105,737

$22,477,167

$4,477,976,935

1

1

1

1

1

5-15

Year

Laddered

Tax-Exempt

Bond

Long-term

municipal

bonds

$

—

$

233,613,878

$

329,725

$

233,943,603

Short-term

investments

—

5,860,000

—

5,860,000

Total

$—

$239,473,878

$329,725

$239,803,603

1

1

1

1

1

Green

Bond

Bank

loan

obligations

$—

$1,893,939

$—

$1,893,939

Corporate

bonds

—

75,143,193

704,035

75,847,228

Government

bonds

—

28,488,707

—

28,488,707

Structured

assets

—

21,160,032

192,288

21,352,320

Preferred

stocks

1,004,360

—

—

1,004,360

Short-term

investments

1,413,072

5,840,000

—

7,253,072

Total

$2,417,432

$132,525,871

$896,323

$135,839,626

1

1

1

1

1

High-Yield

Bank

loan

obligations

$—

$128,321,686

$—

$128,321,686

Corporate

bonds

—

2,239,222,515

—

2,239,222,515

Common

stocks

9,447,830

—

79

9,447,909

Short-term

investments

67,293,546

62,385,149

—

129,678,695

Total

$76,741,376

$2,429,929,350

$79

$2,506,670,805

1

1

1

1

1

Inflation-Linked

Bond

Government

bonds

$—

$2,653,909,310

$—

$2,653,909,310

Short-term

investments

14,796,169

13,830,000

—

28,626,169

Futures

contracts*

551,463

—

—

551,463

Total

$15,347,632

$2,667,739,310

$—

$2,683,086,942

1

1

1

1

1

Notes

to

financial

statements

(unaudited)

396

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

continued

Note

4—investments

Mortgage

dollar

roll

transactions:

Some

of

the Funds may

enter

into

mortgage

dollar

rolls

in

which a

Fund

sells

mortgage

securities

for

delivery

in

the

current

month,

realizing

a

gain

(loss),

and

simultaneously

contracts

to

repurchase

similar

securities

on

a

specified

future

date.

During

the

roll

period,

a

Fund forgoes

principal

and

interest

paid

on

the

securities.

The Fund is

compensated

by

the

interest

earned

on

the

cash

proceeds

of

the

initial

sale

and

by

the

lower

repurchase

price

at

the

future

date.

The

difference

between

the

sales

proceeds

and

the

repurchase

price

is

recorded

as

a

realized

gain

or

loss.

Repurchase

agreements:

In

connection

with

transactions

in

repurchase

agreements,

it

is

the Fund’s policy

that

its

custodian

take

possession

of

the

underlying

collateral

securities,

the

fair

value

of

which

exceeds

the

principal

amount

of

the

repurchase

transaction,

including

accrued

interest,

at

all

times.

If

the

counterparty

defaults,

and

the

fair

value

of

the

collateral

declines,

realization

of

the

collateral

may

be

delayed

or

limited.

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,

as

amended.

The

risk

of

investing

in

such

securities

is

generally

greater

than

the

risk

of

investing

in

securities

that

are

widely

held

and

publicly

traded.

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.

Non-cash

collateral

is

not

disclosed

in

the

Funds’

Statements

of

assets

and

liabilities

as

it

is

held

by

the Agent

or

by

a

third

party

bank

engaged

by

the

Agent

as

a

special

"tri-party" custodian on

behalf

of

the Funds,

and

the

Funds

do

not

have

the

ability

to

sell

or

re-hypothecate

those

securities.

As

of

September

30,

2022,

securities

lending

transactions are

for equity

and

fixed

income

securities,

and

the

resulting

loans

are

continuous,

can

be

recalled

at

any

time,

and

have

no

set

maturity.

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

that

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. 

Fund

Level

1

Level

2

Level

3

Total

Short

Duration

Impact

Bond

Bank

loan

obligations

$—

$1,893,939

$—

$1,893,939

Corporate

bonds

—

11,458,075

—

11,458,075

Government

bonds

—

34,956,072

—

34,956,072

Structured

assets

—

10,365,199

—

10,365,199

Short-term

investments

2,426,115

440,000

—

2,866,115

Total

$2,426,115

$59,113,285

$—

$61,539,400

1

1

1

1

1

Short-Term

Bond

Bank

loan

obligations

$—

$38,113,739

$—

$38,113,739

Corporate

bonds

—

596,897,984

—

596,897,984

Government

bonds

—

735,595,081

—

735,595,081

Structured

assets

—

418,124,828

1

418,124,829

Short-term

investments

38,768,697

80,270,000

—

119,038,697

Futures

contracts*

3,014,355

—

—

3,014,355

Total

$41,783,052

$1,869,001,632

$1

$1,910,784,685

1

1

1

1

1

Short-Term

Bond

Index

Corporate

bonds

$—

$313,001,703

$—

$313,001,703

Government

bonds

—

1,034,452,871

—

1,034,452,871

Structured

assets

—

193,239

—

193,239

Short-term

investments

25,649,136

6,290,000

—

31,939,136

Total

$25,649,136

$1,353,937,813

$—

$1,379,586,949

1

1

1

1

1

Money

Market

Short-term

investments

$

—

$

1,518,868,951

$

—

$

1,518,868,951

Total

$—

$1,518,868,951

$—

$1,518,868,951

1

1

1

1

1

*

Derivative

instruments

are

not

reflected

in

the

market

value

of

portfolio

investments.

397

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

As

of September

30,

2022,

the

total

value

of

securities

on

loan

and

the

total

value

of

collateral

received

were

as

follows:

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

have

extended

settlement

periods;

interest

income

is

not

accrued

until

settlement

date.

Any

securities

so

purchased

are

subject

to

market

fluctuation

during

this

period.

The

Funds have

segregated

securities

in

their

portfolios

with

a

current

value

at

least

equal

to

the

amount

of

the

when-issued/delayed

delivery

purchase

commitments.

Treasury

inflation-protected

securities:

The

Funds (other

than

the

Money

Market

Fund)

may

invest

in

Treasury

Inflation-Protected

Securities,

specially

structured

bonds

in

which

the

principal

amount

is

adjusted

periodically

to

keep

pace

with

inflation,

as

measured

by

the

U.S.

Consumer

Price

Index.

The

adjustments

for

interest

income

due

to

inflation

or

deflation

are

reflected

in

interest

income

in

the

Statements

of

operations.

Unfunded

commitments:

Pursuant

to

the

terms

of

certain

loan

agreements,

the

Funds may

have

unfunded

loan

commitments.

Unfunded

commitments

are

contractual

obligations

pursuant

to

which

a

Fund agrees

to

invest

in

a

loan

at

a

future

date.

Each

Fund segregates

short-term

securities

or

cash

having

an

aggregate

value

at

least

equal

to

the

amount

of

the

unfunded

loan

commitments.

If

a

Fund has

unfunded

commitments

at

the

end

of

the

reporting

period,

such

amounts

are

recognized

on

the

Statements

of

assets

and

liabilities

as

“Payable

for

unfunded

loan

commitments.”

Zero

coupon

securities:

A

zero

coupon

security

does

not

pay

a

regular

interest

coupon

to

its

holders

during

the

life

of

the

security.

Income

to

the

holder

of

the

security

comes

from

accretion

of

the

difference

between

the

original

purchase

price

of

the

security

at

issuance

and

the

par

value

of

the

security

at

maturity

and

is

effectively

paid

at

maturity.

The

market

prices

of

zero

coupon

securities

generally

are

more

volatile

than

the

market

prices

of

securities

that

pay

interest

periodically.

Purchases

and

sales:

Purchases

and

sales

of

securities

(other

than

short-term

instruments)

for

all

of

the Funds

for

the period

ended

September

30,

2022

were

as

follows:

Note

5—derivative

investments

Each Fund

(other

than

the

Money

Market

Fund) is

authorized

to

invest

in

certain

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.

Aggregate

value

of

securities

on

loan

Fund

Equity

Securities

Fixed

Income

Securities

Cash

collateral

received*

Non-cash

collateral

received

Total

collateral

received

Bond

Index

$–

$262,852,028

$263,564,431

$8,792,964

$272,357,395

Core

Bond

2,932,455

71,364,443

72,742,537

4,287,467

77,030,004

Core

Impact

Bond

3,227,976

182,005,624

185,730,513

7,798,498

193,529,011

Core

Plus

Bond

–

51,328,518

47,413,362

5,777,458

53,190,820

Green

Bond

–

1,374,482

1,413,072

–

1,413,072

High-Yield

9,353,341

62,618,709

67,293,546

7,623,047

74,916,593

Inflation-Linked

Bond

–

13,691,777

14,796,169

–

14,796,169

Short

Duration

Impact

Bond

–

2,351,131

2,426,115

–

2,426,115

Short-Term

Bond

–

37,623,329

38,768,697

–

38,768,697

Short-Term

Bond

Index

–

24,943,206

25,649,136

–

25,649,136

*May

include

cash

and

investment

of

cash

collateral

Fund

Non-U.S.

government

purchases

U.S.

government

purchases

Non-U.S.

government

sales

U.S.

government

sales

8.1

Bond

Index

$

643,106,432

$

2,078,644,824

$

653,007,227

$

1,664,458,696

8.2

Core

Bond

1,278,484,476

8,248,817,002

1,178,049,217

7,952,529,761

8.3

Core

Impact

Bond

630,239,150

5,302,532,627

1,055,349,179

4,891,852,087

8.4

Core

Plus

Bond

973,243,126

3,407,400,625

952,897,181

3,191,651,471

8.5

5–15

Year

Laddered

Tax-Exempt

Bond

3,445,120

–

9,581,893

–

8.6

Green

Bond

61,405,235

868,334

17,183,001

471,058

8.7

High-Yield

576,821,148

–

751,483,048

–

8.8

Inflation-Linked

Bond

–

107,468,066

5,422,500

453,753,178

8.9

Short

Duration

Impact

Bond

15,661,426

57,277,974

7,238,871

41,011,826

9.01

Short-Term

Bond

178,720,381

1,028,963,905

358,132,493

898,213,110

9.1

Short-Term

Bond

Index

160,237,976

392,639,603

133,164,472

392,347,202

Notes

to

financial

statements

(unaudited)

398

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

continued

At

September

30,

2022,

the

following Funds

have

invested

in

derivative

contracts

which

are

reflected

in

the

Statements

of

assets

and

liabilities

as

follows:

For

the period

ended

September

30,

2022,

the

effect

of

derivative

contracts

on

the Funds'

Statements

of

operations

was

as

follows:

Futures

contracts:

 Certain

Funds

are

subject

to

interest

rate

and

foreign

exchange

risk

in

the

normal

course

of

pursuing

their

investment

objectives.

The Funds

use

futures

contracts

to

manage

exposure

to

the

bond

and

foreign

exchange

markets

and

to

fluctuations

in

interest

and

foreign

exchange

rates and

for

cash

management

purposes

to

remain

highly

invested

in

these

markets

while

minimizing

transaction

costs.

A

futures

contract

is

an

agreement

between

two

parties

to

buy

and

sell

a

financial

instrument

for

a

set

price

on

a

future

date.

Upon

execution

of

a

futures

contract,

the

Fund

is

obligated

to

deposit

cash

or

eligible

securities,

also

known

as

“initial

margin,”

into

an

account

at

its

clearing

broker

equal

to

a

specified

percentage

of

the

contract

amount.

Securities

deposited

for

initial

margin,

if

any,

are

identified

in

the

Portfolio

of

investments

and

cash

deposited

for

initial

margin,

if

any,

is

reflected

on

the

Statements

of

assets

and

liabilities.

During

the

period

the

futures

contract

is

open,

changes

in

the

market

value

of

the

contract

are

recognized

as

an

unrealized

gain

or

loss

by

“marking-to-market”

on

a

daily

basis.

The

Fund

and

the

clearing

broker

are

obligated

to

settle

monies

on

a

daily

basis

representing

the

changes

in

the

value

of

the

contracts.

These

daily

cash

settlements

are

known

as

“variation

margin”

which are

recognized

on

the

Statements

of

assets

and

liabilities

as

a

receivable

or

payable

for

variation

margin

on

futures

contracts.

When

the

contract

is

closed

or

expired,

the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

contract

on

the

closing

date

and

value

of

the

contract

when

originally

entered

into.

The

net

realized

gain

or

loss

and

the

change

in

unrealized

appreciation

(depreciation)

on

futures

contracts

held

during

the

period

is

included

on

the

Statement

of

operations.

Risks

of

investments

in

futures

contracts

include

the

possible

adverse

movement

in

the

price

of

the

securities

or

indices

underlying

the

contracts,

the

possibility

that

there

may

not

be

a

liquid

secondary

market

for

the

contracts

and/or

that

a

change

in

the

value

of the

contract

may

not

correlate

with

a

change

in

the

value

of

the

underlying

securities

or

indices.

Asset

Derivatives

Liability

Derivatives

Derivative

Instrument

Risk

Exposure

Location

Value

Location

Value

Core

Bond

Fund

Credit

default

swap

contracts

Credit

Unrealized

appreciation

on

swap

contracts

*

$

3,025,941

Unrealized

depreciation

on

swap

contracts

*

$

(801,217)

1

1

1

1

1

1

1

1

Core

Plus

Bond

Fund

Credit

default

swap

contracts

Credit

Unrealized

appreciation

on

swap

contracts

*

3,308,711

Unrealized

depreciation

on

swap

contracts

*

(891,495)

1

1

1

1

1

1

1

1

Inflation-Linked

Bond

Fund

Futures

contracts

Interest

rate

Unrealized

appreciation

on

futures

contracts

*

551,463

-

–

1

1

1

1

1

1

1

1

Short-Term

Bond

Fund

Futures

contracts

Interest

rate

Unrealized

appreciation

on

futures

contracts

*

3,014,355

-

–

1

1

1

1

1

1

1

1

*

Value

represents

the

cumulative

unrealized

appreciation

(depreciation)

of

cleared

derivative

contracts

as

reported

in

the

Fund's

Portfolio

of

investments.

The

Statements

of

assets

and

liabilities

only

reflects

the

current

day

variation

margin

receivable/payable

from/to

brokers

on

open

cleared

derivative

contracts.

Derivative

Instrument

Risk

Exposure

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

8.2

Core

Bond

Fund

Futures

contracts

Interest

rate

$

1,548,124

$

(704,232)

Swap

contracts

Credit

2,543,635

2,224,725

8.4

Core

Plus

Bond

Fund

Futures

contracts

Interest

rate

1,539,649

(700,276)

Swap

contracts

Credit

1,632,218

2,417,216

8.7

High-Yield

Fund

Swap

contracts

Credit

1,640,095

–

8.8

Inflation-Linked

Bond

Fund

Futures

contracts

Interest

rate

1,753,518

222,724

9.01

Short-Term

Bond

Fund

Futures

contracts

Interest

rate

7,845,123

(335,956)

399

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

The

average

notional

amount

of

futures

contracts

outstanding

during

the

current

fiscal

period

ended September

30,

2022

was

as

follows:

Credit

default

swap

contracts:

Certain

Funds

are

subject

to

credit

risk

in

the

normal

course

of

pursuing

their

investment

objectives.

The

Funds (other

than

the

Money

Market

Fund)

invest

in

credit

default

swaps

to

hedge

or

manage

the

risks

associated

with

assets

held

in

the

Funds

and/or

to

facilitate

the

implementation

of

portfolio

strategies

to

seek

to

increase

the

total

return.

Credit

default

swap

contracts

involve

one

party

making

a

stream

of

payments

(buyer

of

protection)

to

another

party

(seller

of

protection)

in

exchange

for

the

right

to

receive

a

specified

return

if/when

there

is

a

credit

event

by

a

third

party.

Credit

events

are

agreement

specific

but

may

include

bankruptcy,

failure

to

pay,

or

restructuring.

When a

Fund has

bought

(sold)

protection

in

a

credit

default

swap

upon

occurrence

of

a

specific

credit

event

with

respect

to

the

underlying

referenced

entity,

the

Fund will

either

(i)

receive

(deliver)

that

security,

or

an

equivalent

amount

of

cash,

from

the

counterparty

in

exchange

for

receipt

(payment)

of

the

notional

amount

to

the

counterparty,

or

(ii)

receive

(pay)

a

net

settlement

amount

of

the

credit

default

swap

contract

less

the

recovery

value

of

the

referenced

obligation

or

underlying

securities

comprising

the

referenced

index.

Payments

paid

(received)

at

the

beginning

of

the

measurement

period

are

reflected

as

swap

premiums

paid

(received)

on

the

Statement

of

assets

and

liabilities,

when

applicable.

Credit

default

swaps

are

“marked-to-market”

on

a

daily

basis

to

reflect

the

value

of

the

swap

agreement

at

the

end

of

each

trading

day

and

are

recognized

as

unrealized

appreciation

(depreciation)

on

the

Statement

of

operations.

Credit

default

swaps

can

be

settled

either

directly

with

the

counterparty

("OTC")

or

through

a

central

clearinghouse

("centrally

cleared").

For

OTC

swaps,

the

daily

change

in

the

market

value

of

the

swap

contract,

along

with

any

daily

interest

fees

accrued,

are

recognized

as

unrealized

appreciation

(depreciation)

on

credit

default

swaps

on

the

Statement

of

assets

and

liabilities.

Upon

the

execution

of

a

centrally

cleared

swap, a

Fund is

obligated

to

deposit

cash

or

eligible

securities,

also

known

as

“initial

margin,”

into

an

account

at

its

clearing

broker

equal

to

a

specified

percentage

of

the

contract

amount.

Securities

deposited

for

initial

margin,

if

any,

are

identified

in

the

Portfolio

of

Investments

and

cash

deposited

for

initial

margin,

if

any,

is

reflected

on

the

Statement

of

assets

and

liabilities.

The Fund

and

the

clearing

broker

are

obligated

to

settle

monies

on

a

daily

basis

representing

the

changes

in

the

value

of

the

swap

contracts.

These

daily

cash

settlements

are

known

as

“variation

margin”

and are

recognized

on

the

Statement

of

assets

and

liabilities

as

a

receivable

or

payable

for

variation

margin

on

credit

default

swaps.

The

difference

between

the

value

of

the

security

received

(delivered)

and

the

notional

amount

delivered

(received)

as

well

as

payments

received

or

made

as

a

result

of

a

credit

event

or

termination

of

a

contract

are

recognized

as

realized

gains

or

losses

on

the

Statement

of

operations.

The

maximum

potential

amount

of

future

payments

the Fund

could

incur

as

a

buyer

or

seller

of

protection

in

a

credit

default

swap

contract

is

limited

to

the

notional

amount

of

the

contract.

The

maximum

potential

amount

would

be

offset

by

the

recovery

value,

if

any,

of

the

respective

referenced

entity.

The

average

notional

amount

of

credit

default

swap

contracts

outstanding

during

the

current

fiscal

period

ended September

30,

2022

was

as

follows:

Note

6—Income

tax

information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Fund

Average

notional

amount

of

futures

contracts

outstanding*

8.2

Core

Bond

$

8,272,557

8.4

Core

Plus

Bond

8,226,082

8.8

Inflation-Linked

Bond

8,171,300

9.01

Short-Term

Bond

101,113,611

*

The

average

notional

amount

is

calculated

based

on

the

absolute

aggregate

notional

amount

of

contracts

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

Fund

Average

notional

amount

of

swap

contracts

outstanding*

8.2

Core

Bond

$

141,460,000

8.4

Core

Plus

Bond

157,406,667

8.7

High-Yield

–**

*

The

average

notional

amount

is

calculated

based

on

the

outstanding

notional

amount

of

contracts

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

**

The

Fund

invested

in

credit

default

swap

contracts

during

the

fiscal

period.

However,

the

Fund

did

not

hold

any

such

positions

at

the

beginning

of

the

fiscal

period

or

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period

and

therefore

are

not

included

as

part

of

this

calculation.

Notes

to

financial

statements

(unaudited)

400

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

continued

The

5-15

Year

Laddered

Tax-Exempt

Bond

Fund

intends

to

satisfy

conditions

that

will

enable

interest

from

municipal

securities,

which

is

exempt

from

regular

federal

income

tax,

to

retain

such

tax-exempt

status

when

distributed

to

shareholders

of

the

Fund.

Net

realized

capital

gains

and

ordinary

income

distributions

paid

by

the

Fund

are

subject

to

federal

taxation. 

Each

Fund

files

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

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund’s

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund’s

financial

statements.

As

of

the

end

of

the

reporting

period,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes were

as

follows:

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable. 

As

of prior

fiscal

period

end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

As

of

prior

fiscal

period

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire: 

Fund

Tax

cost

Gross

unrealized

appreciation

Gross

unrealized

(depreciation)

Net

unrealized

appreciation

(depreciation)

8.1

Bond

Index

$22,236,716,044

$1,551,125

$(3,025,549,175)

$(3,023,998,050)

8.2

Core

Bond

10,603,091,919

7,115,547

(1,351,790,831)

(1,344,675,284)

8.3

Core

Impact

Bond

7,062,976,462

3,026,146

(904,924,192)

(901,898,046)

8.4

Core

Plus

Bond

5,159,879,675

5,307,726

(687,210,466)

(681,902,740)

8.5

5–15

Year

Laddered

Tax-Exempt

Bond

268,249,224

84,948

(28,530,569)

(28,445,621)

8.6

Green

Bond

151,750,326

17,213

(15,927,913)

(15,910,700)

8.7

High-Yield

2,923,739,942

2,739,690

(419,808,827)

(417,069,137)

8.8

Inflation-Linked

Bond

2,923,124,154

2,380,286

(242,417,498)

(240,037,212)

8.9

Short

Duration

Impact

Bond

63,566,222

28,540

(2,055,362)

(2,026,822)

9.01

Short-Term

Bond

2,019,269,325

171,267

(108,655,907)

(108,484,640)

9.1

Short-Term

Bond

Index

1,447,567,803

1,347

(67,982,201)

(67,980,854)

Fund

Undistributed

tax-exempt

income

Undistributed

ordinary

income

Undistributed

long-term

capital

gains

Unrealized

appreciation

(depreciation)

Capital

loss

carryforwards

Late-year

loss

deferrals

Other

book-to-tax

differences

Total

8.1

Bond

Index

$–

$17,141,736

$10,050,572

$(907,328,382)

$–

$–

$(20,777,954)

$(900,914,028)

8.2

Core

Bond

–

5,394,154

–

(465,306,072)

–

(116,330,187)

(11,981,457)

(588,223,562)

8.3

Core

Impact

Bond

–

2,347,859

–

(334,222,592)

–

(79,025,637)

(2,555,628)

(413,455,998)

8.4

Core

Plus

Bond

–

4,306,625

–

(232,657,110)

–

(46,240,763)

(10,304,855)

(284,896,103)

8.5

5–15

Year

Laddered

Tax-Exempt

Bond

22,317

52,483

217,586

(9,214,642)

–

–

(63,475)

(8,985,731)

8.6

Green

Bond

–

63,291

86,018

(3,630,944)

–

–

(110,273)

(3,591,908)

8.7

High-Yield

–

3,468,590

–

(120,140,159)

(203,675,711)

–

(3,828,332)

(324,175,612)

8.8

Inflation-Linked

Bond

–

17,101,378

16,112,005

125,721,757

–

–

(256,391)

158,678,749

8.9

Short

Duration

Impact

Bond

–

24,949

–

(843,205)

(41,981)

–

(34,088)

(894,325)

9.01

Short-Term

Bond

–

1,998,736

2,058,552

(51,992,899)

–

–

(2,610,085)

(50,545,696)

9.1

Short-Term

Bond

Index

–

568,066

–

(42,734,021)

–

(547,194)

(570,349)

(43,283,498)

9.2

Money

Market

–

1,683

–

–

–

–

(2,488)

(805)

Fund

Short-term

Long-term

Total

8.1

Bond

Index

$

–

$

–

$

–

8.2

Core

Bond

–

–

–

8.3

Core

Impact

Bond

–

–

–

8.4

Core

Plus

Bond

–

–

–

8.5

5–15

Year

Laddered

Tax-Exempt

Bond

–

–

–

8.6

Green

Bond

–

–

–

8.7

High-Yield

34,464,300

169,211,411

203,675,711

8.8

Inflation-Linked

Bond

–

–

–

8.9

Short

Duration

Impact

Bond

41,981

–

41,981

9.01

Short-Term

Bond

–

–

–

9.1

Short-Term

Bond

Index

–

–

–

9.2

Money

Market

–

–

–

401

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

continued

Note

7—investment

adviser

and

other

transactions

with

affiliates

Under

the

terms

of

the

Investment

Management

Agreement

with

respect

to

each

Fund, the

Adviser provides

asset

management

services

to

the

Fund

for

an

annual

fee,

payable

monthly.

The

Funds

have

entered

into

an

Administrative

Service

Agreement

with

the

Adviser

under

which

the

Funds

pay the

Adviser for

its

costs

in

providing

certain

administrative

and

compliance

services

to

the

Funds.

Under

the

terms

of

a

Retirement

Class

Service

Agreement

with

respect

to

each

Fund,

the

Retirement

Class

of

the

Fund

incurs

an

annual

fee

of

0.25%

of

the

daily

net

assets,

payable

monthly

to

the

Adviser,

for

certain

administrative

costs

associated

with

the

maintenance

of

Retirement

Class

shares

on

retirement

plan

or

other

platforms.

Substantially

all

of

the

Retirement

Class

shareholder

servicing

fees

reported

on

the

Statements

of

operations

are

paid

to

the

Adviser

under

the

Service

Agreement.

Under

the

terms

of

a

distribution

Rule

12b-1

plan,

the

Retail

Class

of

each

Fund

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Retail

Class

of

the

Fund

at

the

annual

rate

of

0.25%

of

the

average

daily

net

assets

attributable

to

the

Fund’s

Retail

Class.

The

Premier

Class

of

each

Fund

is

subject

to

a

distribution

Rule

12b-1

plan

that

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Premier

Class

of

the

Fund

at

the

annual

rate

of

0.15%

of

the

average

daily

net

assets

attributable

to

the

Fund’s

Premier

Class.

The

Adviser has

contractually

agreed

to

waive

and/or

reimburse

Class

W’s

shares’

Management

fees

and

Other

expenses

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses,

trustee

expenses

and

extraordinary

expenses)

in

their

entirety.

The

Adviser

expects

this

waiver

and/or

reimbursement

to

remain

in

effect

indefinitely,

unless

changed

or

terminated

with

approval

of

the

Board.

The

Management

fees

and

Other

expenses

of

Class

W

shares

that

have

been

waived

by the

Adviser may

be

incurred

directly

or

indirectly,

all

or

in

part,

by

investors

in

Class

W

shares.

The

Adviser and

its

affiliates

have

voluntarily

agreed

to

waive

the

Money

Market

Fund

fees

in

order

to

keep

the

Fund’s

yield

non-

negative.

The

Adviser

has

agreed

to

reimburse

each

Fund

if

its

total

expense

ratio

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses

and

extraordinary

expenses)

exceeds

certain

percentages.

As

of

September

30,

2022

,

the

investment

management

fee,

service

agreement

fee,

distribution

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Prior

to

August

1,

2022,

the

investment

management

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

were

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Investment

management

fee

range

Investment

management

fee-

effective

rate

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

8.1

Bond

Index

0.060

%

0.067

%

0.090

%

0.240

%

0.240

%

0.340

%

0.440

%

0.090

%

8.2

Core

Bond*

0.250

%

—0.300

%

0.274

0.350

0.500

0.500

0.600

0.700

0.350

8.3

Core

Impact

Bond*

0.300

%

—0.350

%

0.331

0.400

0.550

0.550

0.650

0.750

–

8.4

Core

Plus

Bond*

0.250

%

—0.300

%

0.285

0.350

0.500

0.500

0.600

0.700

0.350

8.5

5–15

Year

Laddered

Tax-Exempt

Bond*

0.200

%

—0.250

%

0.250

0.300

0.450

–

–

0.650

–

8.6

Green

Bond*

0.350

%

—0.400

%

0.400

0.450

0.600

0.600

0.700

0.800

–

8.7

High-Yield*

0.300

%

—0.350

%

0.341

0.400

0.550

0.550

0.650

0.750

0.400

8.8

Inflation-Linked

Bond*

0.200

%

—0.250

%

0.240

0.300

0.450

0.450

0.550

0.650

0.300

8.9

Short

Duration

Impact

Bond*

0.250

%

—0.300

%

0.300

0.350

0.500

0.500

0.600

0.700

–

9.01

Short-Term

Bond*

0.200

%

—0.250

%

0.245

0.300

0.450

0.450

0.550

0.650

0.300

9.1

Short-Term

Bond

Index

0.050

%

0.057

0.100

0.250

0.250

0.350

0.450

0.100

9.2

Money

Market

0.100

%

0.100

0.150

0.300

0.300

0.400

0.500

–

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

expense

reimbursement

arrangements

will

continue

through

at

least

July

31,

2023.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

management

fee

range

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

8.1

Bond

Index

0.070

%

0.100

%

0.250

%

0.250

%

0.350

%

0.450

%

0.100

%

9.1

Short-Term

Bond

Index

0.060

%

0.110

0.260

0.260

0.360

0.460

0.110

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Notes

to

financial

statements

(unaudited)

402

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

continued

Effective

May

1,

2022,

for

a

one

year

period, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

This

waiver

is

voluntary

in

nature

and

can

be

discontinued

at

any

time

without

prior

notice

to

shareholders

upon

Board

approval.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waivers)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Prior

to

May

1,

2022, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waiver)

were

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

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.

For

the

period

ended

September

30,

2022,

these

transactions

did

not

materially

impact

the

Funds.

A

registered

separate

account

of

TIAA

(collectively

“TIAA

Access”)

has

various

sub-accounts

that

invest

in

the

Funds,

and

certain

funds

within

the

Trust

also

make

investments

in

the

Funds.

The

following

is

the

percentage

of

the

Funds'

shares

owned

by

affiliates

as

of

September

30,

2022:

Investment

management

fee

range

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

8.3

Core

Impact

Bond*

0.285

%

—0.335

%

0.385

%

0.535

%

0.535

%

0.635

%

0.735

%

–

%

8.6

Green

Bond*

0.350

%

—0.400

%

0.410

0.600

0.580

0.580

0.715

–

8.7

High-Yield*

0.285

%

—0.335

%

0.385

0.535

0.535

0.635

0.735

0.385

8.8

Inflation-Linked

Bond*

0.180

%

—0.230

%

0.280

0.430

0.430

0.530

0.630

0.280

8.9

Short

Duration

Impact

Bond*

0.250

%

—0.300

%

0.340

0.500

0.500

0.600

0.600

–

9.2

Money

Market

0.100

%

0.150

0.300

0.240

0.240

0.415

–

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

management

fee

range

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

8.6

Green

Bond*

0.350

%

-

0.400

%

0.450

%

0.600

%

0.585

%

0.585

%

0.725

%

–

%

8.7

High-Yield*

0.285

%

-

0.335

%

0.385

0.535

0.535

0.635

0.735

0.385

8.8

Inflation-Linked

Bond*

0.180

%

-

0.230

%

0.280

0.430

0.430

0.530

0.630

0.280

8.9

Short

Duration

Impact

Bond*

0.250

%

-

0.300

%

0.345

0.500

0.500

0.570

0.605

–

9.2

Money

Market

0.100

%

0.150

0.300

0.240

0.240

0.395

–

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Underlying

Fund

TIAA

TIAA-CREF

Lifecycle

Funds

TIAA-CREF

Lifecycle

Index

Funds

TIAA-CREF

Lifestyle

Funds

TIAA-CREF

Managed

Allocation

Fund

TIAA

Access

Total

8.1

Bond

Index

–

%

–

%

49

%

–

%

–

%

1

%

50

%

8.2

Core

Bond

–

41

–

1

–

–

42

8.4

Core

Plus

Bond

–

55

–

8

7

2

72

8.6

Green

Bond

49

–

–

–

–

–

49

8.7

High-Yield

–

21

–

–

–

5

26

8.8

Inflation-Linked

Bond

–

30

31

–

–

–

61

8.9

Short

Duration

Impact

Bond

40

–

–

–

–

–

40

9.01

Short-Term

Bond

–

46

–

5

–

3

54

9.1

Short-Term

Bond

Index

–

–

64

–

–

–

64

9.2

Money

Market

–

–

–

–

–

4

4

403

TIAA-CREF

Funds:

Fixed-Income

Funds

2022

Semiannual

Report

concluded

Note

8—inter-fund

lending

program

Pursuant

to

an

exemptive

order

issued

by

the

SEC,

the

Funds may

participate

in

an

inter-fund

lending

program.

This

program

allows

the

Funds to

lend

cash

to

and/or

borrow

cash

from

certain

other

affiliated

Funds for

temporary

purposes,

(e.g.,

to

satisfy

redemption

requests

or

to

cover

unanticipated

cash

shortfalls).

The

program

is

subject

to

a

number

of

conditions,

including

the

requirement

that

no

Fund may

borrow

or

lend

money

under

the

program

unless

it

receives

a

more

favorable

interest

rate

than

is

available

from

a

bank

or

other

financial

institution

for

a

comparable

transaction.

In

addition,

a

Fund may

participate

in

the

program

only

if

its

participation

is

consistent

with

the

Fund’s investment

policies

and

limitations

and

authorized

by

its

portfolio

manager(s).

During the period

ended September

30,

2022,

there

were

no

inter-fund

borrowing

or

lending

transactions. 

Note

9—line

of

credit

The Funds

(other

than

Money

Market

Fund)

participate

in

a

$1

billion

unsecured

revolving

credit

facility

that

can

be

used

for

temporary

purposes,

including,

without

limitation,

the

funding

of

shareholder

redemptions.

The

current

facility

was

entered

into

on

June

14,

2022

expiring

on

June

13,

2023,

replacing

the

previous facility,

which

expired

June

2022.

Certain

affiliated

accounts

and

mutual

funds,

each

of

which

is

managed

by the

Adviser,

or

an

affiliate

of

the

Adviser, also

participate

in

this

facility.

An

annual

commitment

fee

for

the

credit

facility

is

borne

by

the

participating

accounts

and

mutual

funds

on

a

pro

rata

basis.

Interest

associated

with

any

borrowing

under

the

facility

is

charged

to

the

borrowing

accounts

or

mutual

funds

at

a

specified

rate

of

interest.

The Funds are

not

liable

for

borrowings

under

the

facility

by

other

affiliated

accounts

or

mutual

funds.

For

the period

ended

September

30,

2022,

there

were

no

borrowings

under

this

credit

facility

by

the

Funds.

Additional

fund

information

404

2022

Semiannual

Report

TIAA-CREF

Funds:

Fixed-Income

Funds

Portfolio

holdings

The

TIAA-CREF

Funds

file

complete

portfolio

listings

with

the

Securities

and

Exchange

Commission

(SEC),

and

they

are

available

to

the

public.

You

can

obtain

a

complete

list

of

the

TIAA-CREF

Funds’

holdings

(Schedules

of

Investments)

as

of

the

most

recently

completed

fiscal

quarter

in

the

following

ways:

By

visiting

our

websites

at

TIAA.org

or

nuveen.com;

or

By

calling

us

at

800-842-2252

to

request

a

copy,

which

will

be

provided

free

of

charge.

You

can

also

obtain

a

complete

list

of

the

TIAA-CREF

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-PORT

or

Form

N-MFP

(for

money

market

products

only)

filings.

Form

N-CSR

filings

are

as

of

March

31

or

September

30;

Form

N-PORT

or

Form

N-MFP

filings

are

as

of

December

31

or

June

30.

Copies

of

these

forms

are

available:

Through

the

Electronic

Data

Gathering

and

Retrieval

System

(EDGAR)

on

the

SEC’s

website

at

sec.gov;

or

From

the

SEC’s

Office

of

Investor

Education

and

Advocacy.

Call

202-551-8090

for

more

information.

Proxy

voting

TIAA-CREF

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.org

or

on

the

SEC’s

website

at

sec.gov.

You

can

also

call

us

at

800-842-2252

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

sec.gov.

Contacting

TIAA

There

are

three

easy

ways

to

contact

us:

by

email,

using

the

Contact

Us

link

at

the

top

of

our

home

page;

by

mail

at

TIAA,

730

Third

Avenue,

New

York,

NY

10017-3206;

or

by

phone

at

800-842-2252.

Fund

management

The

TIAA-CREF

Funds

are

managed

by

the

portfolio

management

teams

of

Teachers

Advisors,

LLC.

The

members

of

these

teams

are

responsible

for

the

day-to-day

investment

management

of

the

funds.

How

to

reach

us

©2022

Teachers

Insurance

and

Annuity

Association

of

America—College

Retirement

Equities

Fund,

730

Third

Avenue,

New

York,

NY

10017-3206

Websites

TIAA.org

nuveen.com

Automated

telephone

service

800-842-2252

24

hours

a

day,

7

days

a

week

For

the

hearing-

or

speech-impaired

800-842-2755

8

a.m.

to

10

p.m.

(ET),

Monday–Friday

You

should

carefully

consider

the

investment

objectives,

risks,

charges

and

expenses

of

any

fund

before

investing.

For

a

prospectus

that

contains

this

and

other

information,

please

visit

TIAA.org,

or

call

800-842-2252

for

the

Institutional,

Advisor,

Premier,

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

Please

read

the

prospectus

carefully

before

investing.

Investment,

insurance

and

annuity

products

are

not

Federal

Deposit

Insurance

Corporation

(FDIC)

insured,

are

not

bank

guaranteed,

are

not

bank

deposits,

are

not

insured

by

any

federal

government

agency,

are

not

a

condition

to

any

banking

service

or

activity,

and

may

lose

value.

Nuveen,

a

subsidiary

of

TIAA,

provides

investment

advice

and

portfolio

management

services

through

a

dozen

affiliated

registered

investment

advisers.

Nuveen

Securities,

LLC

and

TIAA-CREF

Individual

&

Institutional

Services,

LLC,

members

FINRA,

distribute

securities

products.

This

material

is

for

informational

or

educational

purposes

only

and

does

not

constitute

fiduciary

investment

advice

under

ERISA,

a

securities

recommendation

under

all

securities

laws,

or

an

insurance

product

recommendation

under

state

insurance

laws

or

regulations.

This

material

does

not

take

into

account

any

specific

objectives

or

circumstances

of

any

particular

investor,

or

suggest

any

specific

course

of

action.

Investment

decisions

should

be

made

based

on

an

investor’s

own

objectives

and

circumstances.

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(11/22)

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A12457

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2433758

A12457

(11/22)

Real

Estate

Securities

Fund

TIAA-CREF

Semiannual

Report

TIAA-CREF

Funds

September

30,

2022

The

semiannual

report

contains

the

financial

statements

(unaudited).

Fund

name

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

10.1

Real

Estate

Securities

Fund

TIREX

TIRHX

TRRPX

TRRSX

TCREX

Contents

Understanding

this

report

3

Letter

to

investors

4

About

the

Fund’s

benchmark

6

Expense

examples

7

Fund

performance

Portfolio

managers’

comments

8

Real

Estate

Securities

Fund

9

Portfolio

of

investments

10

Financial

statements

(unaudited)

Statement

of

assets

and

liabilities

12

Statement

of

operations

13

Statements

of

changes

in

net

assets

14

Financial

highlights

16

Notes

to

financial

statements

18

Additional

fund

information

23

How

to

reach

us

Inside

back

cover

3

TIAA-CREF

Real

Estate

Securities

Fund

2022

Semiannual

Report

Understanding

this

report

This

semiannual

report

contains

information

about

the

TIAA-CREF

Real

Estate

Securities

Fund

and

describes

the

Fund’s

results

for

the

six

months

ended

September

30,

2022

.

The

report

contains

four

main

sections:

A

letter

from

Brad

Finkle,

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds.

The

Fund

performance

section

compares

the

Fund’s

investment

returns

with

those

of

its

benchmark

index.

The

portfolio

of

investments

lists

the

industries

and

types

of

securities

in

which

the

Fund

had

investments

as

of

September

30,

2022

.

The

financial

statements

provide

detailed

information

about

the

operations

and

financial

condition

of

the

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.

To

see

the

risks

of

investing

in

any

fund,

please

read

the

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

websites

at

TIAA.org

or

nuveen.com,

or

call

800-842-

2252

for

the

Institutional,

Advisor,

Premier

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

We

urge

you

to

read

the

prospectus

carefully

before

investing.

4

2022

Semiannual

Report

TIAA-CREF

Real

Estate

Securities

Fund

Letter

to

investors

Brad

Finkle

Real

estate

investment

trusts

(REITs)

posted

a

loss

for

the

six

months

ended

September

30,

2022,

amid

persistent

inflation

and

a

significant

rise

in

interest

rates.

The

U.S.

economy

contracted

during

the

second

quarter

of

2022,

although

consumer

spending

remained

positive.

The

Federal

Reserve

addressed

elevated

inflation

by

increasing

the

federal

funds

target

rate—a

key

measure

of

short-term

interest

rates—four

times

during

the

period.

The

fourth

increase

in

September

brought

the

rate

to

3.00%–3.25%.

Energy

prices

rose

sharply

through

the

beginning

of

June

but

then

fell

back

steadily

by

the

end

of

the

period.

The

unemployment

rate

remained

at

lows

not

seen

since

before

the

COVID-19

pandemic.

REITs

returned

–23.9%

for

the

six

months,

as

measured

by

the

FTSE

Nareit

All

Equity

REITs

Index.

Please

see

page

6

for

the

benchmark

definition.

All

of

the

index’s

16

property

sectors

and

subsectors

declined,

with

the

office

sector

posting

the

largest

loss.

The

TIAA-CREF

Real

Estate

Securities

Fund

(Institutional

Class)

underperformed

its

benchmark

for

the

period.

REITs

trailed

U.S.

bonds

and

stocks

REITs

are

a

unique

asset

class

because

they

share

some

of

the

characteristics

of

both

stocks

and

bonds.

Similar

to

bonds,

REIT

prices

can

be

sensitive

to

interest-

rate

fluctuations,

and

throughout

the

period,

REITs

struggled

due

to

the

rise

in

interest

rates.

Similar

to

equities,

REITs

invest

in

individual

companies,

so

their

performance

is

tied

to

the

overall

health

of

the

U.S.

economy.

As

such,

weakness

in

the

stock

market

hurt

the

returns

of

REITs

during

the

period.

For

the

six

months,

the

FTSE

Nareit

All

Equity

REITs

Index

trailed

the

–9.2%

return

of

the

broad

U.S.

investment-grade

fixed-rate

bond

market,

as

measured

by

the

Bloomberg

U.S.

Aggregate

Bond

Index.

REITs

also

lagged

all

other

fixed-income

sectors,

including

high-yield

bonds,

as

well

as

the

–20.4%

return

of

the

broad

U.S.

stock

market,

as

measured

by

the

Russell

3000®

Index.

Staying

focused

on

long-term

goals

After

several

years

of

generally

favorable

conditions,

REITs

now

face

the

challenge

of

higher

interest

rates

and

the

near-term

impact

they

may

have

on

the

commercial

and

residential

real

estate

markets.

However,

despite

the

recent

negative

performance

of

REITs,

historically

they

have

been

a

relatively

stable

source

of

income

and

return.

REITs

have

the

potential

to

rise

in

value,

like

a

stock,

while

also

providing

a

steady

source

of

income,

similar

to

a

bond.

REITs

are

required

by

law

to

distribute

at

least

90%

of

their

taxable

income

to

investors

in

the

form

of

dividends.

As

such,

they

generate

current

income,

which

can

be

a

valuable

feature

when

rates

decline

or

when

markets

are

volatile.

Furthermore,

REITs

invest

in

a

broad

spectrum

of

real

estate

properties,

and

each

sector

possesses

its

own

supply/demand

dynamics

and

its

own

characteristics.

That

variation

of

sectors

plays

a

vital

role

in

determining

the

performance

of

REIT

securities.

Moreover,

the

broad

array

of

REITs

held

in

a

professionally

managed

real

estate

securities

mutual

fund

has

the

potential

to

add

value

as

a

diversification

tool

when

combined

with

a

portfolio

of

stocks,

bonds

and

other

assets.

Of

course,

diversification

cannot

guarantee

against

market

losses.

No

one

can

predict

which

way

financial

markets

will

move

or

foresee

the

direction

of

interest

rates.

Because

of

these

uncertainties,

we

believe

that

a

professionally

managed

mutual

fund

of

REIT

securities,

designed

to

mitigate

volatility,

can

play

an

integral

role

in

a

long-term

investment

plan.

5

TIAA-CREF

Real

Estate

Securities

Fund

2022

Semiannual

Report

Please

visit

TIAA.org

for

more

information

on

asset

class

performance.

As

always,

if

you

have

any

questions

about

your

investment

in

the

TIAA-CREF

Real

Estate

Securities

Fund,

we

encourage

you

to

contact

your

financial

advisor

or

call

a

TIAA

financial

consultant

at

800-842-2252.

We

stand

ready

to

help

you.

Brad

Finkle

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

About

the

Fund’s

benchmark

6

2022

Semiannual

Report

TIAA-CREF

Real

Estate

Securities

Fund

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.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

For

additional

details

about

the

benchmark

indexes,

please

read

the

funds’

latest

prospectus.

FTSE

International

Limited

(“FTSE”)

©

FTSE

2022.

FTSE®

is

a

trademark

of

the

London

Stock

Exchange

Group

companies

and

is

used

by

FTSE

International

Limited

under

license.

Nareit®

is

a

trademark

of

the

National

Association

of

Real

Estate

Investment

Trusts

(“Nareit”).

All

intellectual

property

rights

in

the

Index

vest

in

FTSE

and

Nareit.

Neither

FTSE

nor

its

licensors

accept

any

liability

for

any

errors

or

omissions

in

the

FTSE

indices

and/or

FTSE

ratings

or

underlying

data.

No

further

distribution

of

FTSE

Data

is

permitted

without

FTSE’s

express

written

consent.

7

TIAA-CREF

Real

Estate

Securities

Fund

2022

Semiannual

Report

Expense

examples

All

shareholders

of

the

TIAA-CREF

Funds

incur

ongoing

costs,

including

management

fees

and

other

fund

expenses.

They

may

also

incur

transactional

costs

for

redemptions

or

account

maintenance

fees.

The

expense

example

that

appears

in

this

report

is

intended

to

help

you

understand

your

ongoing

costs

only

(in

U.S.

dollars)

and

does

not

reflect

transactional

costs.

The

example

is

designed

to

help

you

compare

these

ongoing

costs

with

the

ongoing

costs

of

investing

in

other

mutual

funds.

The

expenses

shown

do

not

include

account

maintenance

fees,

which

may

or

may

not

be

applicable,

as

described

in

the

prospectus.

If

such

fees

were

included,

your

total

costs

for

investing

in

the

Fund

would

be

higher.

Note

also

that

shareholders

of

the

TIAA-CREF

Funds

do

not

incur

a

sales

charge

for

purchases,

reinvested

dividends

or

other

distributions.

The

example

is

based

on

an

investment

of

$1,000

invested

at

the

beginning

of

the

six-month

period

and

held

for

the

entire

period

(

April

1,

2022

–

September

30,

2022

).

Actual

expenses

The

first

section

in

the

table

uses

the

Fund’s

actual

expenses

and

its

actual

rate

of

return.

You

may

use

the

information

in

this

section,

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

incurred

during

the

period”

to

estimate

the

expenses

you

paid

during

the

six-month

period.

Hypothetical

example

for

comparison

purposes

The

second

section

in

the

table

shows

hypothetical

account

values

and

expenses

based

on

the

Fund’s

actual

expense

ratio

for

each

share

class

for

the

six-month

period

and

an

assumed

5%-per-year

rate

of

return

before

expenses.

This

was

not

the

share

class’

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

the

costs

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.

10.1

Real

Estate

Securities

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$730.23

$729.89

$729.84

$729.12

$729.31

Expenses

incurred

during

the

period*

$1.96

$2.45

$2.61

$3.04

$3.18

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.80

$1,022.23

$1,022.05

$1,021.55

$1,021.39

Expenses

incurred

during

the

period*

$2.29

$2.87

$3.05

$3.56

$3.72

*

"Expenses

incurred

during

the

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

183/365.

There

were

183

days

in

the

six

months

ended

September

30,

2022.

The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.45%

for

Institutional

Class,

0.57%

for

Advisor

Class,

0.60%

for

Premier

Class,

0.70%

for

Retirement

Class

and

0.73%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Portfolio

managers’

comments

8

2022

Semiannual

Report

TIAA-CREF

Real

Estate

Securities

Fund

Real

Estate

Securities

Fund

Performance

for

the

six

months

ended

September

30,

2022

The

Real

Estate

Securities

Fund returned

-26.98%

for

the

Institutional

Class,

compared

with

the

-23.93% return

of

its

benchmark,

the

FTSE

Nareit

All

Equity

REITs

Index.

For

the

one-year

period

ended

September

30,

2022,

the

Fund

returned

-20.73% versus

-16.27% for

the

index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Economy

contracted

amid

elevated

inflation,

higher

rates

The

U.S.

economy

contracted

during

the

period

as

inflation

persisted

and

interest

rates

moved

higher.

Real

gross

domestic

product,

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

contracted

at

an

annualized

rate

of

0.6%

during

the

second

quarter

of

2022,

according

to

the

government’s

“third”

estimate.

The

unemployment

rate

edged

lower

in

September

to

3.5%.

Core

inflation,

which

measures

all

items

except

food

and

energy,

rose

6.6%

for

the

twelve

months

ended

September

2022.

Crude

oil

prices

declined

from

$99

to

less

than

$80

per

barrel

during

the

six

months

but

reached

a

high

of

nearly

$122

in

June.

The

Federal

Reserve

responded

aggressively

to

elevated

inflation

levels

and

raised

the

federal

funds

target

rate

four

times

during

the

period.

Policymakers

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%

in

September—its

highest

level

since

January

2008.

The

Fed

also

indicated

that

further

increases

would

be

appropriate.

For

the

period,

the

FTSE

Nareit

All

Equity

REITs

Index

trailed

the

−20.42%

return

of

the

broad

U.S.

stock

market,

as

measured

by

the

Russell

3000®

Index,

as

well

as

the

–9.22%

return

of

the

broad

U.S.

investment-grade

fixed-rate

bond

market,

as

represented

by

the

Bloomberg

U.S.

Aggregate

Bond

Index.

All

sectors

posted

losses

Among

the

benchmark’s

16

property

sectors

and

subsectors,

all

declined

for

the

period.

The

largest

losses

were

seen

in

the

office

(down

38.3%),

industrial

(down

31.7%)

and

regional

malls

(down

30.8%)

sectors.

The

best

performer

was

the

freestanding

retail

sector

(down

10.7%).

Fund

trailed

its

benchmark

For

the

six-month

period,

the

Fund

underperformed

its

benchmark.

An

out-of-benchmark

allocation

to

regulated

cannabis

industry

REIT

Innovative

Industrial

Properties

was

the

largest

detractor

from

the

Fund’s

relative

return

as

it

posted

a

sizable

loss.

Underweight

positions

in

gaming,

entertainment

and

hospitality

REIT

VICI

Properties

and

wireless

communications

infrastructure

provider

American

Tower

also

hurt

relative

performance.

These

negative

effects

were

partly

offset

by

not

owning

poorly

performing

health

care

facilities

REIT

Medical

Properties

Trust.

Overweight

positions

in

residential

REITs

American

Homes

4

Rent

and

Equity

LifeStyle

Properties

were

also

beneficial.

Real

Estate

Securities

Fund

9

TIAA-CREF

Real

Estate

Securities

Fund

2022

Semiannual

Report

Performance

as

of

September

30,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

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.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses. 

Fund

profile

Portfolio

composition

Holdings

by

company

size

Total

return

Average

annual

total

return

Annual

operating

expenses

*

Real

Estate

Securities

Fund

Inception

date

6

months

1

year

5

years

10

years

gross

net

Institutional

Class

10/1/02

-26.98%

-20.73%

4.82%

7.11%

0.47%

0.47%

Advisor

Class

12/4/15

-27.01

-20.81

4.69

7.04

†

0.59

0.59

Premier

Class

9/30/09

-27.02

-20.84

4.66

6.95

0.62

0.62

Retirement

Class

10/1/02

-27.09

-20.92

4.55

6.85

0.72

0.72

Retail

Class

10/1/02

-27.07

-20.93

4.52

6.79

0.75

0.75

FTSE

Nareit

All

Equity

REITs

Index

–

-23.93

-16.27

4.10

6.99

–

–

*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

as

of

9/30/2022

Net

assets

$

3.01

billion

Portfolio

turnover

rate

*

10%

Number

of

holdings

54

Weighted

median

market

capitalization

$22.16

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

29.5

*

The

portfolio

turnover

rate

covers

the

six-month

period

from

April

1,

2022–September

30,

2022,

and

is

not

annualized.

†

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

9/30/2022

Specialized

REITs

28.2

Residential

REITs

25.1

Industrial

REITs

16.1

Retail

REITs

15.2

Office

REITs

5.8

Health

care

REITs

5.6

Hotel

&

resort

REITs

1.4

Real

estate

operating

companies

0.6

Diversified

REITs

0.3

Internet

services

&

infrastructure

0.2

Short-term

investments,

other

assets

&

liabilities,

net

1.5

Total

100.0

Market

capitalization

%

of

equity

investments

as

of

9/30/2022

More

than

$50

billion

25.2

More

than

$15

billion-$50

billion

40.6

More

than

$2

billion-$15

billion

33.1

$2

billion

or

less

1.1

Total

100.0

Real

Estate

Securities

Fund

September

30,

2022

Portfolio

of

investments

(unaudited)

10

2022

Semiannual

Report

TIAA-CREF

Real

Estate

Securities

Fund

See

notes

to

financial

statements

SHARES

COMPANY

VALUE

COMMON

STOCKS

-

98.5%

DIVERSIFIED

REITS

-

0

.3

%

500,000

Washington

REIT

$

8,780,000‌

TOTAL

DIVERSIFIED

REITS

8,780,000‌

HEALTH

CARE

REITS

-

5

.6

%

1,925,000

Healthpeak

Properties

Inc

44,121,000‌

1,150,000

Ventas,

Inc

46,195,500‌

1,200,000

Welltower,

Inc

77,184,000‌

TOTAL

HEALTH

CARE

REITS

167,500,500‌

HOTEL

&

RESORT

REITS

-

1

.4

%

1,900,000

Host

Hotels

and

Resorts,

Inc

30,172,000‌

1,200,000

Park

Hotels

&

Resorts,

Inc

13,512,000‌

TOTAL

HOTEL

&

RESORT

REITS

43,684,000‌

INDUSTRIAL

REITS

-

16

.1

%

1,050,000

Duke

Realty

Corp

50,610,000‌

200,000

EastGroup

Properties,

Inc

28,868,000‌

200,000

Innovative

Industrial

Properties,

Inc

17,700,000‌

2,200,000

Prologis,

Inc

223,520,000‌

2,350,000

Rexford

Industrial

Realty,

Inc

122,200,000‌

825,000

Terreno

Realty

Corp

43,716,750‌

TOTAL

INDUSTRIAL

REITS

486,614,750‌

INTERNET

SERVICES

&

INFRASTRUCTURE

-

0

.2

%

1,350,000

*

Cyxtera

Technologies,

Inc

5,508,000‌

TOTAL

INTERNET

SERVICES

&

INFRASTRUCTURE

5,508,000‌

OFFICE

REITS

-

5

.8

%

537,500

Alexandria

Real

Estate

Equities,

Inc

75,352,125‌

575,000

Boston

Properties,

Inc

43,107,750‌

450,000

Kilroy

Realty

Corp

18,949,500‌

450,000

SL

Green

Realty

Corp

18,072,000‌

800,000

Vornado

Realty

Trust

18,528,000‌

TOTAL

OFFICE

REITS

174,009,375‌

REAL

ESTATE

OPERATING

COMPANIES

-

0

.6

%

900,000

DigitalBridge

Group,

Inc

11,259,000‌

900,000

Tricon

Residential,

Inc

7,785,000‌

TOTAL

REAL

ESTATE

OPERATING

COMPANIES

19,044,000‌

RESIDENTIAL

REITS

-

25

.1

%

2,750,000

American

Homes

4

Rent

90,227,500‌

825,000

AvalonBay

Communities,

Inc

151,956,750‌

1,300,000

Equity

Lifestyle

Properties,

Inc

81,692,000‌

1,950,000

Equity

Residential

131,079,000‌

370,000

Essex

Property

Trust,

Inc

89,625,100‌

1,250,000

Independence

Realty

Trust,

Inc

20,912,500‌

2,315,260

Ingenia

Communities

Group

5,514,560‌

500,000

Invitation

Homes,

Inc

16,885,000‌

200,000

Mid-America

Apartment

Communities,

Inc

31,014,000‌

300,000

NexPoint

Residential

Trust,

Inc

13,863,000‌

750,000

Sun

Communities,

Inc

101,497,500‌

500,000

UDR,

Inc

20,855,000‌

TOTAL

RESIDENTIAL

REITS

755,121,910‌

RETAIL

REITS

-

15

.2

%

200,000

Agree

Realty

Corp

13,516,000‌

2,650,000

Brixmor

Property

Group,

Inc

48,945,500‌

3,700,000

Kimco

Realty

Corp

68,117,000‌

Portfolio

of

investments

(unaudited)

Real

Estate

Securities

Fund

September

30,

2022

11

TIAA-CREF

Real

Estate

Securities

Fund

2022

Semiannual

Report

See

notes

to

financial

statements

concluded

SHARES

COMPANY

VALUE

RETAIL

REITS—continued

2,250,000

Kite

Realty

Group

Trust

$

38,745,000‌

950,000

Realty

Income

Corp

55,290,000‌

850,000

Regency

Centers

Corp

45,772,500‌

1,750,000

Simon

Property

Group,

Inc

157,062,500‌

720,000

SITE

Centers

Corp

7,711,200‌

600,000

Spirit

Realty

Capital,

Inc

21,696,000‌

TOTAL

RETAIL

REITS

456,855,700‌

SPECIALIZED

REITS

-

28

.2

%

975,000

American

Tower

Corp

209,332,500‌

675,000

Crown

Castle

International

Corp

97,571,250‌

450,000

Digital

Realty

Trust,

Inc

44,631,000‌

200,000

Equinix,

Inc

113,768,000‌

325,000

Extra

Space

Storage,

Inc

56,130,750‌

400,000

Gaming

and

Leisure

Properties,

Inc

17,696,000‌

500,000

Life

Storage,

Inc

55,380,000‌

800,000

National

Storage

Affiliates

Trust

33,264,000‌

350,000

Public

Storage,

Inc

102,483,500‌

150,000

SBA

Communications

Corp

42,697,500‌

1,000,000

VICI

Properties,

Inc

29,850,000‌

1,700,000

Weyerhaeuser

Co

48,552,000‌

TOTAL

SPECIALIZED

REITS

851,356,500‌

TOTAL

COMMON

STOCKS

2,968,474,735‌

(Cost

$2,572,096,338)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

1.0%

REPURCHASE

AGREEMENT

-

1

.0

%

$

29,370,000

r

Fixed

Income

Clearing

Corp

(FICC)

2

.950

%

10/03/22

29,370,000‌

TOTAL

REPURCHASE

AGREEMENT

29,370,000‌

TOTAL

SHORT-TERM

INVESTMENTS

29,370,000‌

(Cost

$29,370,000)

TOTAL

INVESTMENTS

-

99.5%

2,997,844,735‌

(Cost

$2,601,466,338)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.5%

16,153,151‌

NET

ASSETS

-

100.0%

$

3,013,997,886‌

REIT

Real

Estate

Investment

Trust

*

Non-income

producing

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

2.950%

dated

9/30/22

to

be

repurchased

at

$29,370,000

on

10/3/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.625%

and

maturity

date

7/31/26,

valued

at

$29,957,411.

12

2022

Semiannual

Report

TIAA-CREF

Real

Estate

Securities

Fund

Real

Estate

Securities

Fund

September

30,

2022

Statement

of

assets

and

liabilities

(unaudited)

See

notes

to

financial

statements

10.1

Real

Estate

Securities

Fund

ASSETS

Portfolio

investments,

at

value

†

$

2,997,844,735‌

Cash

509,840‌

Cash

-

foreign

^

111,465‌

Receivable

from

securities

transactions

33,165,176‌

Receivable

from

Fund

shares

sold

1,026,915‌

Dividends

and

interest

receivable

10,569,398‌

Due

from

affiliates

96,240‌

Other

486,057‌

Total

assets

3,043,809,826‌

LIABILITIES

Management

fees

payable

1,283,843‌

Service

agreement

fees

payable

137,523‌

Distribution

fees

payable

89,452‌

Due

to

affiliates

14,377‌

Payable

for

securities

transactions

23,903,444‌

Payable

for

Fund

shares

redeemed

4,105,655‌

Payable

for

trustee

compensation

147,357‌

Accrued

expenses

and

other

payables

130,289‌

Total

liabilities

29,811,940‌

NET

ASSETS

$

3,013,997,886‌

NET

ASSETS

CONSIST

OF:

Paid-in-capital

$

2,576,516,097‌

Total

distributable

earnings

(loss)

437,481,789‌

NET

ASSETS

$

3,013,997,886‌

INSTITUTIONAL

CLASS:

Net

assets

$

2,011,722,340‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

124,899,107‌

Net

asset

value

per

share

$

16

.11‌

ADVISOR

CLASS:

Net

assets

$

115,872,550‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

7,190,165‌

Net

asset

value

per

share

$

16

.12‌

PREMIER

CLASS:

Net

assets

$

32,530,664‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

2,017,333‌

Net

asset

value

per

share

$

16

.13‌

RETIREMENT

CLASS:

Net

assets

$

482,558,116‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

28,568,996‌

Net

asset

value

per

share

$

16

.89‌

RETAIL

CLASS:

Net

assets

$

371,314,216‌

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

23,254,839‌

Net

asset

value

per

share

$

15

.97‌

†

Portfolio

investments,

cost

$

2,601,466,338‌

^

Foreign

cash,

cost

$

113,599‌

13

TIAA-CREF

Real

Estate

Securities

Fund

2022

Semiannual

Report

Real

Estate

Securities

Fund

For

the

period

ended

September

30,

2022

Statement

of

operations

(unaudited)

See

notes

to

financial

statements

10.1

Real

Estate

Securities

Fund

INVESTMENT

INCOME

Dividends*

$

46,703,776‌

Payment

from

affiliate

713,854‌

Interest

243,263‌

Total

income

47,660,893‌

EXPENSES

Management

fees

8,623,768‌

Shareholder

servicing

—

Institutional

Class

5,711‌

Shareholder

servicing

—

Advisor

Class

77,466‌

Shareholder

servicing

—

Premier

Class

126‌

Shareholder

servicing

—

Retirement

Class

734,425‌

Shareholder

servicing

—

Retail

Class

76,098‌

Distribution

fees

—

Premier

Class

29,716‌

Distribution

fees

—

Retail

Class

575,179‌

Administrative

service

fees

68,760‌

Trustee

fees

and

expenses

26,339‌

Other

expenses

204,309‌

Total

expenses

10,421,897‌

Less:

Fee

waiver

by

investment

adviser

and

Nuveen

Securities

(

524,355‌

)

Net

expenses

9,897,542‌

Net

investment

income

(loss)

37,763,351‌

NET

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

ON

TOTAL

INVESTMENTS

Realized

gain

(loss):

Portfolio

investments

(

18,612,489‌

)

Foreign

currency

transactions

5,209‌

Net

realized

gain

(loss)

on

total

investments

(

18,607,280‌

)

Change

in

unrealized

appreciation

(depreciation)

on:

Portfolio

investments

(

1,165,367,125‌

)

Translation

of

assets

(other

than

portfolio

investments)

and

liabilities

denominated

in

foreign

currencies

31,554‌

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(

1,165,335,571‌

)

Net

realized

and

unrealized

gain

(loss)

on

total

investments

(

1,183,942,851‌

)

Net

increase

(decrease)

in

net

assets

from

operations

$

(

1,146,179,500‌

)

*  

Net

of

foreign

withholding

taxes

of

$

40,193‌

14

2022

Semiannual

Report

TIAA-CREF

Real

Estate

Securities

Fund

Real

Estate

Securities

Fund

For

the

period

or

year

ended

Statements

of

changes

in

net

assets

See

notes

to

financial

statements

10.1

Real

Estate

Securities

Fund

September

30,

2022

March

31,

2022

(unaudited)

OPERATIONS

Net

investment

income

(loss)

$

37,763,351‌

$

54,182,032‌

Net

realized

gain

(loss)

on

total

investments

(

18,607,280‌

)

141,134,782‌

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(

1,165,335,571‌

)

530,542,974‌

Net

increase

(decrease)

in

net

assets

from

operations

(

1,146,179,500‌

)

725,859,788‌

DISTRIBUTIONS

TO

SHAREHOLDERS

–‌

–‌

Institutional

Class

Institutional

Class

(

26,871,955‌

)

(

96,977,383‌

)

Advisor

Class

Advisor

Class

(

1,430,157‌

)

(

3,739,386‌

)

Premier

Class

Premier

Class

(

401,568‌

)

(

1,774,234‌

)

Retirement

Class

Retirement

Class

(

5,359,952‌

)

(

18,099,653‌

)

Retail

Class

Retail

Class

(

4,367,132‌

)

(

14,532,341‌

)

Total

distributions

(

38,430,764‌

)

(

135,122,997‌

)

SHAREHOLDER

TRANSACTIONS

Subscriptions:

Institutional

Class

172,257,530‌

815,756,862‌

Advisor

Class

Advisor

Class

31,244,865‌

96,809,239‌

Premier

Class

Premier

Class

2,364,257‌

11,820,296‌

Retirement

Class

Retirement

Class

14,528,316‌

71,902,294‌

Retail

Class

Retail

Class

21,043,123‌

156,265,081‌

Reinvestments

of

distributions:

Institutional

Class

26,662,926‌

96,236,993‌

Advisor

Class

Advisor

Class

1,426,732‌

3,729,739‌

Premier

Class

Premier

Class

401,414‌

1,773,773‌

Retirement

Class

Retirement

Class

5,359,938‌

18,099,259‌

Retail

Class

Retail

Class

4,176,962‌

13,864,550‌

Redemptions:

Institutional

Class

(

326,735,576‌

)

(

655,408,445‌

)

Advisor

Class

Advisor

Class

(

26,782,934‌

)

(

32,236,594‌

)

Premier

Class

Premier

Class

(

2,997,699‌

)

(

24,987,860‌

)

Retirement

Class

Retirement

Class

(

25,784,706‌

)

(

44,235,480‌

)

Retail

Class

Retail

Class

(

39,853,909‌

)

(

72,100,841‌

)

Net

increase

(decrease)

from

shareholder

transactions

(

142,688,761‌

)

457,288,866‌

Net

increase

(decrease)

in

net

assets

(

1,327,299,025‌

)

1,048,025,657‌

NET

ASSETS

Beginning

of

period

4,341,296,911‌

3,293,271,254‌

End

of

period

$

3,013,997,886‌

$

4,341,296,911‌

CHANGE

IN

FUND

SHARES

Shares

sold:

Institutional

Class

8,832,613‌

37,594,416‌

Advisor

Class

Advisor

Class

1,634,533‌

4,437,814‌

Premier

Class

Premier

Class

120,787‌

549,141‌

Retirement

Class

Retirement

Class

684,220‌

3,169,591‌

Retail

Class

Retail

Class

1,052,883‌

7,200,090‌

Shares

reinvested:

Institutional

Class

1,565,136‌

4,313,910‌

Advisor

Class

Advisor

Class

83,787‌

166,844‌

Premier

Class

Premier

Class

23,542‌

79,398‌

Retirement

Class

Retirement

Class

300,358‌

773,855‌

Retail

Class

Retail

Class

247,511‌

626,176‌

Shares

redeemed:

Institutional

Class

(

16,912,874‌

)

(

30,242,146‌

)

Advisor

Class

Advisor

Class

(

1,404,455‌

)

(

1,488,786‌

)

Premier

Class

Premier

Class

(

154,298‌

)

(

1,141,364‌

)

Retirement

Class

Retirement

Class

(

1,260,480‌

)

(

1,941,694‌

)

Retail

Class

Retail

Class

(

2,075,887‌

)

(

3,346,196‌

)

Net

increase

(decrease)

from

shareholder

transactions

(

7,262,624‌

)

20,751,049‌

Real

Estate

Securities

Fund

Financial

highlights

See

notes

to

financial

Statements

16

2022

Semiannual

Report

TIAA-CREF

Real

Estate

Securities

Fund

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

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

10.1

REAL

ESTATE

SECURITIES

FUND

Institutional

Class:

9/30/22

#

$

22

.34‌

$

0

.21‌

$

(

6

.23‌

)

 $

(

6

.02‌

)

$

(

0

.21‌

)

 $

—‌

 $

(

0

.21‌

)

$

16

.11‌

3/31/22

18

.98‌

0

.30‌

3

.77‌

4

.07‌

(

0

.31‌

)

(

0

.40‌

)

(

0

.71‌

)

22

.34‌

3/31/21

14

.21‌

0

.30‌

4

.77‌

5

.07‌

(

0

.30‌

)

—‌

(

0

.30‌

)

18

.98‌

3/31/20

16

.88‌

0

.35‌

(

1

.89‌

)

(

1

.54‌

)

(

0

.33‌

)

(

0

.80‌

)

(

1

.13‌

)

14

.21‌

3/31/19

14

.65‌

0

.33‌

2

.40‌

2

.73‌

(

0

.36‌

)

(

0

.14‌

)

(

0

.50‌

)

16

.88‌

3/31/18

15

.31‌

0

.32‌

0

.26‌

0

.58‌

(

0

.28‌

)

(

0

.96‌

)

(

1

.24‌

)

14

.65‌

Advisor

Class:

9/30/22

#

22

.35‌

0

.20‌

(

6

.23‌

)

(

6

.03‌

)

(

0

.20‌

)

—‌

(

0

.20‌

)

16

.12‌

3/31/22

18

.99‌

0

.26‌

3

.79‌

4

.05‌

(

0

.29‌

)

(

0

.40‌

)

(

0

.69‌

)

22

.35‌

3/31/21

14

.22‌

0

.26‌

4

.79‌

5

.05‌

(

0

.28‌

)

—‌

(

0

.28‌

)

18

.99‌

3/31/20

16

.89‌

0

.32‌

(

1

.88‌

)

(

1

.56‌

)

(

0

.31‌

)

(

0

.80‌

)

(

1

.11‌

)

14

.22‌

3/31/19

14

.66‌

0

.18‌

2

.54‌

2

.72‌

(

0

.35‌

)

(

0

.14‌

)

(

0

.49‌

)

16

.89‌

3/31/18

15

.32‌

0

.31‌

0

.25‌

0

.56‌

(

0

.26‌

)

(

0

.96‌

)

(

1

.22‌

)

14

.66‌

Premier

Class:

9/30/22

#

22

.36‌

0

.19‌

(

6

.22‌

)

(

6

.03‌

)

(

0

.20‌

)

—‌

(

0

.20‌

)

16

.13‌

3/31/22

19

.00‌

0

.28‌

3

.76‌

4

.04‌

(

0

.28‌

)

(

0

.40‌

)

(

0

.68‌

)

22

.36‌

3/31/21

14

.22‌

0

.27‌

4

.79‌

5

.06‌

(

0

.28‌

)

—‌

(

0

.28‌

)

19

.00‌

3/31/20

16

.89‌

0

.32‌

(

1

.88‌

)

(

1

.56‌

)

(

0

.31‌

)

(

0

.80‌

)

(

1

.11‌

)

14

.22‌

3/31/19

14

.66‌

0

.30‌

2

.41‌

2

.71‌

(

0

.34‌

)

(

0

.14‌

)

(

0

.48‌

)

16

.89‌

3/31/18

15

.32‌

0

.30‌

0

.25‌

0

.55‌

(

0

.25‌

)

(

0

.96‌

)

(

1

.21‌

)

14

.66‌

Retirement

Class:

9/30/22

#

23

.41‌

0

.19‌

(

6

.52‌

)

(

6

.33‌

)

(

0

.19‌

)

—‌

(

0

.19‌

)

16

.89‌

3/31/22

19

.86‌

0

.25‌

3

.95‌

4

.20‌

(

0

.25‌

)

(

0

.40‌

)

(

0

.65‌

)

23

.41‌

3/31/21

14

.86‌

0

.27‌

4

.99‌

5

.26‌

(

0

.26‌

)

—‌

(

0

.26‌

)

19

.86‌

3/31/20

17

.60‌

0

.32‌

(

1

.97‌

)

(

1

.65‌

)

(

0

.29‌

)

(

0

.80‌

)

(

1

.09‌

)

14

.86‌

3/31/19

15

.25‌

0

.30‌

2

.51‌

2

.81‌

(

0

.32‌

)

(

0

.14‌

)

(

0

.46‌

)

17

.60‌

3/31/18

15

.90‌

0

.30‌

0

.25‌

0

.55‌

(

0

.24‌

)

(

0

.96‌

)

(

1

.20‌

)

15

.25‌

Retail

Class:

9/30/22

#

22

.14‌

0

.18‌

(

6

.16‌

)

(

5

.98‌

)

(

0

.19‌

)

—‌

(

0

.19‌

)

15

.97‌

3/31/22

18

.82‌

0

.23‌

3

.75‌

3

.98‌

(

0

.26‌

)

(

0

.40‌

)

(

0

.66‌

)

22

.14‌

3/31/21

14

.09‌

0

.25‌

4

.73‌

4

.98‌

(

0

.25‌

)

—‌

(

0

.25‌

)

18

.82‌

3/31/20

16

.74‌

0

.29‌

(

1

.86‌

)

(

1

.57‌

)

(

0

.28‌

)

(

0

.80‌

)

(

1

.08‌

)

14

.09‌

3/31/19

14

.54‌

0

.28‌

2

.38‌

2

.66‌

(

0

.32‌

)

(

0

.14‌

)

(

0

.46‌

)

16

.74‌

3/31/18

15

.21‌

0

.28‌

0

.24‌

0

.52‌

(

0

.23‌

)

(

0

.96‌

)

(

1

.19‌

)

14

.54‌

#

Unaudited

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.

f

Does

not

include

in-kind

transactions.

u

Income

reflects

voluntary

compensation

from

Advisors

in

amounts

that

approximate

a

portion

of

the

cost

of

research

services

obtained

from

broker-dealers

and

research

providers

if

Advisors

had

purchased

the

research

services

directly.

The

total

return

and

net

investment

income

ratio

displayed

excludes

this

item.

See

notes

to

financial

Statements

17

TIAA-CREF

Real

Estate

Securities

Fund

2022

Semiannual

Report

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Total

return

excluding

payment

from

affiliates

u

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Net

investment

income

(loss)

excluding

payment

from

affiliates

u

Portfolio

turnover

rate

(

26

.98‌

)

%

b

(

27

.00‌

)

%

b

 $

2,011,722‌

0

.48‌

%

c

0

.45‌

%

c

2

.11‌

%

c

2

.07‌

%

c

10‌

%

b

21

.46‌

21

.45‌

2,935,178‌

0

.47‌

0

.47‌

1

.37‌

1

.36‌

25‌

f

35

.94‌

35

.92‌

2,272,604‌

0

.49‌

0

.47‌

1

.77‌

1

.76‌

45‌

(

10

.16‌

)

(

10

.17‌

)

1,430,143‌

0

.50‌

0

.50‌

1

.95‌

1

.94‌

39‌

18

.91‌

18

.90‌

1,582,056‌

0

.51‌

0

.51‌

2

.13‌

2

.12‌

34‌

3

.45‌

3

.44‌

1,298,830‌

0

.51‌

0

.51‌

2

.08‌

2

.07‌

30‌

(

27

.01‌

)

b

(

27

.03‌

)

b

115,873‌

0

.59‌

c

0

.57‌

c

2

.02‌

c

1

.98‌

c

10‌

b

21

.32‌

21

.31‌

153,657‌

0

.59‌

0

.59‌

1

.19‌

1

.18‌

25‌

f

35

.76‌

35

.74‌

71,403‌

0

.62‌

0

.59‌

1

.55‌

1

.53‌

45‌

(

10

.27‌

)

(

10

.28‌

)

21,689‌

0

.62‌

0

.62‌

1

.79‌

1

.78‌

39‌

18

.76‌

18

.75‌

5,366‌

0

.64‌

0

.64‌

1

.19‌

1

.18‌

34‌

3

.31‌

3

.30‌

1,235‌

0

.65‌

0

.65‌

1

.98‌

1

.98‌

30‌

(

27

.02‌

)

b

(

27

.04‌

)

b

32,531‌

0

.63‌

c

0

.60‌

c

1

.98‌

c

1

.94‌

c

10‌

b

21

.25‌

21

.24‌

45,328‌

0

.62‌

0

.62‌

1

.27‌

1

.25‌

25‌

f

35

.78‌

35

.76‌

48,255‌

0

.64‌

0

.62‌

1

.62‌

1

.60‌

45‌

(

10

.31‌

)

(

10

.32‌

)

44,026‌

0

.65‌

0

.65‌

1

.80‌

1

.79‌

39‌

18

.72‌

18

.71‌

77,572‌

0

.66‌

0

.66‌

1

.97‌

1

.96‌

34‌

3

.28‌

3

.27‌

79,281‌

0

.66‌

0

.66‌

1

.94‌

1

.94‌

30‌

(

27

.09‌

)

b

(

27

.11‌

)

b

482,558‌

0

.73‌

c

0

.70‌

c

1

.87‌

c

1

.83‌

c

10‌

b

21

.17‌

21

.16‌

675,116‌

0

.72‌

0

.72‌

1

.11‌

1

.09‌

25‌

f

35

.58‌

35

.56‌

533,102‌

0

.74‌

0

.72‌

1

.52‌

1

.51‌

45‌

(

10

.39‌

)

(

10

.40‌

)

398,674‌

0

.75‌

0

.75‌

1

.70‌

1

.69‌

39‌

18

.67‌

18

.66‌

424,963‌

0

.76‌

0

.76‌

1

.88‌

1

.87‌

34‌

3

.12‌

3

.11‌

350,291‌

0

.76‌

0

.76‌

1

.85‌

1

.84‌

30‌

(

27

.07‌

)

b

(

27

.09‌

)

b

371,314‌

0

.76‌

c

0

.73‌

c

1

.84‌

c

1

.80‌

c

10‌

b

21

.13‌

21

.12‌

532,018‌

0

.75‌

0

.72‌

1

.09‌

1

.07‌

25‌

f

35

.57‌

35

.55‌

367,908‌

0

.79‌

0

.76‌

1

.48‌

1

.46‌

45‌

(

10

.41‌

)

(

10

.42‌

)

263,960‌

0

.79‌

0

.79‌

1

.66‌

1

.65‌

39‌

18

.50‌

18

.49‌

253,540‌

0

.81‌

0

.81‌

1

.86‌

1

.85‌

34‌

3

.09‌

3

.08‌

223,112‌

0

.81‌

0

.81‌

1

.79‌

1

.78‌

30‌

Real

Estate

Securities

Fund

18

2022

Semiannual

Report

TIAA-CREF

Real

Estate

Securities

Fund

Notes

to

financial

statements

(unaudited)

Note

1—organization

The

TIAA-CREF

Real

Estate

Securities

Fund

(the

“Fund”)

is

one

of

the

investment

portfolios

of

the

TIAA-CREF

Funds

(the

“Trust”),

a

Delaware

statutory

trust

that

is

registered

with

the

U.S.

Securities

and

Exchange

Commission

(“SEC”)

under

the

Investment

Company

Act

of

1940,

as

amended

(“1940

Act”),

as

an

open-end

management

investment

company.

Teachers

Advisors,

LLC

(the

"Adviser”),

a

wholly

owned

indirect

subsidiary

of

Teachers

Insurance

and

Annuity

Association

of

America

(“TIAA”),

is

registered

with

the

SEC

as

an

investment

adviser

and

provides

investment

management

services

for

the

Fund. 

The

Fund

offers

its

shares,

without

a

sales

load,

through

its

principal

underwriter,

Nuveen

Securities,

LLC

(“Nuveen

Securities”),

which

is

a

wholly

owned

indirect

subsidiary

of

TIAA.

The

Fund

offers

five

share

classes:

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class

and

Retail

Class

shares.

Each

class

differs

by

the

allocation

of

class-specific

expenses

and

voting

rights

in

matters

affecting

a

single

class.

Note

2—significant

accounting

policies

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 Fund is

an

investment

company

and

follows

the

accounting

guidance

in

the

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies

.

The net

asset

value (“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

Fund.

Investments

and

investment

income:

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Interest

income

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums.

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

Fund determines

the

existence

of

a

dividend

declaration. Realized

gains

and

losses

on

securities

transactions

are

based

upon

the

specific

identification

method.

Distributions

received

on

securities

that

represent

a

return

of

capital

or

capital

gains

are

recorded

as

a

reduction

of

cost

of

investments

and/or

as

a

realized

gain.

The Fund

estimates

the

components

of

distributions

received

that

may

be

considered

return

of

capital

distributions

or

capital

gain

distributions.

Multiclass

operations

and

allocations:

Income, expenses,

realized

gains

and

losses

and

unrealized

appreciation

and

depreciation of the

Fund

are

allocated

on

a

pro

rata

basis

to

each

class,

except

for

service

agreement

fees,

distribution

fees

and

transfer

agency

fees

and

expenses,

which

are

unique

to

each

class

of

shares.

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.

Distributions

to

shareholders:

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

currency

transactions

and

translation:

The

books

and

records

of

the

Fund

are

maintained

in

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

end

of

each

day.

Purchases

and

sales

of

securities,

income,

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

dates

of

the

transactions.

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

in

exchange

rates

associated

with

(i)

foreign

currency,

(ii)

investments

and

(iii)

derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

of

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

of

interest

and

dividends

recorded

on

the

books

of

the

Fund

and

the

amounts

actually

received

and

are

recognized

as

a

component

of

“Net

realized

gain

(loss)

on

total

investments”

on

the

Statement

of

operations,

when

applicable. 

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

currency

exchange

rates

and

changes

in

foreign

exchange

rates

associated

with

(i)

investments

and

(ii)

other

assets

and

liabilities

are

recognized

as

a

component

of

“Change

in

net

unrealized

appreciation

(depreciation)

of

investments

and

foreign

currency”

on

the

Statement

of

operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

exchange

rates

associated

with

investments

in

derivatives

are

recognized

as

a

component

of

the

respective

derivative’s

related

“Change

in

unrealized

appreciation

(depreciation)

on

total

investments

and

foreign

currency”

on

the

Statement

of

operations,

when

applicable.

Foreign

taxes:

The

Fund may

be

subject

to

foreign

taxes

on

income,

gains

on

investments

or

currency

repatriation,

a

portion

of

which

may

be

recoverable.

The

Fund

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

Fund

invests.

19

TIAA-CREF

Real

Estate

Securities

Fund

2022

Semiannual

Report

continued

Trustee

compensation:

The

Fund

pays

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

Fund

until

paid. Amounts

payable

to

the

trustees

for

compensation

are

included

separately in

the

accompanying

Statement

of

assets

and

liabilities. Trustees’

fees,

including

any

deferred

and

long-term

compensation

incurred,

are

reflected

in

the

Statement

of

operations.

Indemnification:

 Under

the

Trust's

organizational

documents,

its

officers

and trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

In

addition,

in

the

normal

course

of

business,

the

Trust

enters

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the

Trust

that

have

not

yet

occurred.

However,

the

Trust

has

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

Other

matters:

The

outbreak

of

the

novel

coronavirus

(“COVID-19”)

and

subsequent

global

pandemic

began

significantly

impacting

the

U.S.

and

global

financial

markets

and

economies

during

the

calendar

quarter

ended

March

31,

2020.

The

worldwide

spread

of

COVID-19

has

created

significant

uncertainty

in

the

global

economy.

The

duration

and

extent

of

COVID-19

over

the

long

term

cannot

be

reasonably

estimated

at

this

time.

The

ultimate

impact

of

COVID-19

and

the

extent

to

which

COVID-19

impacts

the Fund’s

normal

course

of

business,

results

of

operations,

investments,

and

cash

flows

will

depend

on

future

developments,

which

are

highly

uncertain

and

difficult

to

predict.

Management

continues

to

monitor

and

evaluate

this

situation.

New

rule

issuance:

 A

new

rule

adopted

by

the

SEC

governing

fund

valuation

practices,

Rule

2a-5

under

the

1940

Act,

has

established

requirements

for

determining

fair

value

in

good

faith

for

purposes

of

the

1940

Act.

Rule

2a-5

permits

fund

boards

to

designate

certain

parties

to

perform

fair

value

determinations,

subject

to

board

oversight

and

certain

other

conditions.

Rule

2a-5

also

defines

when

market

quotations

are

"readily

available"

for

purposes

of

Section

29(a)(41)

of

the

1940

Act,

which

requires

a

fund

to

fair

value

a

security

when

market

quotations

are

not

readily

available.

Separately,

new

SEC

Rule

31a-4

under

the

1940

Act

sets

forth

the

recordkeeping

requirements

associated

with

fair

value

determinations. The

Fund

adopted

a

valuation

policy

conforming

to

the

new

rules,

effective

September

1,

2022,

and

there

was

no

material

impact

to

the

Fund.

New

accounting

pronouncement:

 In

June

2022,

the

FASB

issued

ASU

2022-03

to

clarify

the

guidance

in

Topic

820,

Fair

Value

Measurement

(“Topic

820”).

The

amendments

in

ASU

2022-03

affect

all

entities

that

have

investments

in

equity

securities

measured

at

fair

value

that

are

subject

to

a

contractual

sale

restriction.

ASU

2022-03

(1)

clarifies

the

guidance

in

Topic

820,

when

measuring

the

fair

value

of

an

equity

security

subject

to

contractual

restrictions

that

prohibit

the

sale

of

an

equity

security,

(2)

amends

a

related

illustrative

example,

and

(3)

introduces

new

disclosure

requirements

for

equity

securities

subject

to

contractual

sale

restrictions

that

are

measured

at

fair

value

in

accordance

with

Topic

820.

For

public

business

entities,

the

amendments

in

ASU

2022-03

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

those

fiscal

years.

For

all

other

entities,

the

amendments

are

effective

for

fiscal

years

beginning

after

December

15,

2024,

and

interim

periods

within

those

fiscal

years.

Early

adoption

is

permitted

for

both

interim

and

annual

financial

statements

that

have

not

yet

been

issued

or

made

available

for

issuance.

Management

is

currently

assessing

the

impact

of

these

provisions

on

the

Fund's

financial

statements.

Note

3—valuation

of

investments

The Fund’s

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

the

review

and

oversight

of

the

Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

that

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level 1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the Fund's

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Notes

to

financial

statements

(unaudited)

20

2022

Semiannual

Report

TIAA-CREF

Real

Estate

Securities

Fund

continued

Debt

securities:

Prices

of

fixed-income

securities

are

provided

by

independent

pricing

services

(“pricing

services”)

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser and

oversight

of

the Board.

Pricing

services establish

a

security’s

fair

value

using

methods

that

may

include consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2.

Exchange-traded

equity

securities,

common

and

preferred

stock:

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported

sales

price

or

official

closing

price

of

such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported

sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the

valuation

date.

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 Fund’s

net

assets

are

calculated,

such

securities

will

be

valued

at

fair

value

in

accordance

with

procedures

adopted

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1.

When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price,

these

securities

are

generally

classified

as

Level

2. 

Investments

in

registered

investment

companies:

Investments

in

investment

companies

are

valued

at

their

respective NAVs

on

the

valuation

date

and

are

generally

classified

as Level

1.

Repurchase

agreements:

Repurchase

agreements

are

valued

at

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

as

Level

2.

For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as Level

2;

otherwise

they

would

be

classified

as

Level

3. 

The

following

table

summarizes

the

market

value

of

the Fund’s

investments

as

of

September

30,

2022,

based

on

the

inputs

used

to

value

them: 

Note

4—investments

Repurchase

agreements:

In

connection

with

transactions

in

repurchase

agreements,

it

is

the Fund’s policy

that

its

custodian

take

possession

of

the

underlying

collateral

securities,

the

fair

value

of

which

exceeds

the

principal

amount

of

the

repurchase

transaction,

including

accrued

interest,

at

all

times.

If

the

counterparty

defaults,

and

the

fair

value

of

the

collateral

declines,

realization

of

the

collateral

may

be

delayed

or

limited.

Purchases

and

sales:

Purchases

and

sales

of

securities

(other

than

short-term

instruments) for

the Fund for

the period

ended

September

30,

2022

were

as

follows:

Note

5—income

tax

information

The Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Fund

Level

1

Level

2

Level

3

Total

Real

Estate

Securities

Common

stocks

$2,962,960,175

$5,514,560

$—

$2,968,474,735

Short-term

investments

—

29,370,000

—

29,370,000

Total

$2,962,960,175

$34,884,560

$—

$2,997,844,735

1

1

1

1

1

Fund

Non-U.S.

government

purchases

Non-U.S.

government

sales

10.1

Real

Estate

Securities

$

336,314,083

$

427,699,754

21

TIAA-CREF

Real

Estate

Securities

Fund

2022

Semiannual

Report

continued

The

Fund

files

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

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

the

Fund’s

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund’s

financial

statements.

As

of

the

end

of

the

reporting

period,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes

were

as

follows: 

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable.

As

of prior

fiscal

period

end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

Note

6—investment

adviser

and

other

transactions

with  affiliates

Under

the

terms

of

its

Investment

Management

Agreement, the

Adviser provides

asset

management

services

to

the

Fund

for

an

annual

fee,

payable

monthly.

The

Fund

has

entered

into

an

Administrative

Service

Agreement

with the

Adviser under

which

the

Fund

pays the

Adviser for

its

costs

in

providing

certain

administrative

and

compliance

services

to

the

Fund.

Under

the

terms

of

a

Retirement

Class

Service

Agreement,

the

Retirement

Class

of

the

Fund incurs

an

annual

fee of 0.25%

of

the 

daily

net

assets,

payable

monthly

to

the

Adviser,

for

certain administrative

costs

associated

with

the

maintenance

of

Retirement

Class

shares

on

retirement

plan

or

other

platforms.

Substantially

all

of

the

Retirement

Class

shareholder

servicing

fees

reported

on

the

Statement

of

operations

are

paid

to the

Adviser under

the

Service

Agreement.

Under

the

terms

of

a

distribution

Rule

12b-1

plan,

the

Retail

Class

of

the

Fund

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Retail

Class

of

the

Fund

at

the

annual

rate

of

0.25%

of

the

average

daily

net

assets

attributable

to

the

Fund’s

Retail

Class.

The

Premier

Class

of

the

Fund

is

subject

to

a

distribution

Rule

12b-1

plan

that

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Premier

Class

of

the

Fund

at

the

annual

rate

of

0.15%

of

the

average

daily

net

assets

attributable

to

the

Fund’s

Premier

Class.

The

Adviser has

agreed

to

reimburse

the

Fund

if

its

total

expense

ratio

(excluding

interest,

taxes,

brokerage

commissions

and

other

transactional

expenses,

acquired

fund

fees

and

expenses

and

extraordinary

expenses)

exceeds

certain

percentages.

As

of

September

30,

2022,

the

investment

management

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Fund

Tax

cost

Gross

unrealized

appreciation

Gross

unrealized

(depreciation)

Net

unrealized

appreciation

(depreciation)

10.1

Real

Estate

Securities

$2,631,410,274

$599,828,556

$(233,394,095)

$366,434,461

Fund

Undistributed

ordinary

income

Undistributed

long-term

capital

gains

Unrealized

appreciation

(depreciation)

Capital

loss

carryforwards

Late-year

loss

deferrals

Other

book-to-tax

differences

Total

10.1

Real

Estate

Securities

$2,260,312

$85,648,260

$1,534,378,146

$–

$–

$(194,665)

$1,622,092,053

Investment

management

fee

range

Investment

management

fee-

effective

rate

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

10.1

Real

Estate

Securities*

0.350

%

—0.500

%

0.464

%

0.570

%

0.720

%

0.720

%

0.820

%

0.960

%

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

expense

reimbursement

arrangements

will

continue

through

at

least

July

31,

2023.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Notes

to

financial

statements

(unaudited)

22

2022

Semiannual

Report

TIAA-CREF

Real

Estate

Securities

Fund

concluded

Effective

May

1,

2022,

for

a

one

year

period, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

This

waiver

is

voluntary

in

nature

and

can

be

discontinued

at

any

time

without

prior

notice

to

shareholders

upon

Board

approval.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waivers)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Income,

reflected

in

Payment

from

affiliate

on

the

Statement

of

operations, reflects

voluntary

compensation

from the

Adviser in

amounts

that

approximate

a

portion

of

the

cost

of

research

services

obtained

from

broker-dealers

and

research

providers

if the

Adviser had

purchased

the

research

services

directly.

The

Fund 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.

For

the

period

ended

September

30,

2022,

these

transactions

did

not

materially

impact

the

Fund.

A

registered

separate

account

of

TIAA

(collectively

“TIAA

Access”)

has

various

sub-accounts

that

invest

in

the

Fund,

and

certain

funds

within

the

Trust

also

make

investments

in

the

Fund.

The

following

is

the

percentage

of

the

Fund's

shares

owned

by

affiliates

as

of

September

30,

2022:

Companies

in

which

the

Fund

holds

5%

or

more

of

the

outstanding

voting

shares

are

considered

"affiliated

companies"

of

the

Fund,

pursuant

to

the

1940

Act.

As

of

September

30,

2022,

there

were

no

affiliated

investments.

Note

7—inter-fund

lending

program

Pursuant

to

an

exemptive

order

issued

by

the

SEC,

the

Fund

may

participate

in

an

inter-fund

lending

program.

This

program

allows

the

Fund

to

lend

cash

to

and/or

borrow

cash

from

certain other

affiliated

Funds

for

temporary

purposes,

(e.g.,

to

satisfy

redemption

requests

or

to

cover

unanticipated

cash

shortfalls).

The

program

is

subject

to

a

number

of

conditions,

including

the

requirement

that

the Fund

may

not

borrow

or

lend

money

under

the

program

unless

it

receives

a

more

favorable

interest

rate

than

is

available

from

a

bank

or

other

financial

institution

for

a

comparable

transaction.

In

addition,

the

Fund

may

participate

in

the

program

only

if

its

participation

is

consistent

with

the

Fund’s

investment

policies

and

limitations

and

authorized

by

its

portfolio

manager(s).

During

the period

ended September

30,

2022,

there

were

no

inter-fund

borrowing

or

lending

transactions.

Note

8—line

of

credit

The Fund

participates

in

a

$1

billion

unsecured

revolving

credit

facility

that

can

be

used

for

temporary

purposes,

including,

without

limitation,

the

funding

of

shareholder

redemptions.

The

current

facility

was

entered

into

on

June

14,

2022

expiring

on

June

13,

2023,

replacing

the

previous facility,

which

expired

June

2022.

Certain

affiliated

accounts

and

mutual

funds,

each

of

which

is

managed

by the

Adviser,

or

an

affiliate

of

the

Adviser, also

participate

in

this

facility.

An

annual

commitment

fee

for

the

credit

facility

is

borne

by

the

participating

accounts

and

mutual

funds

on

a

pro

rata

basis.

Interest

associated

with

any

borrowing

under

the

facility

is

charged

to

the

borrowing

accounts

or

mutual

funds

at

a

specified

rate

of

interest.

The Fund is

not

liable

for

borrowings

under

the

facility

by

other

affiliated

accounts

or

mutual

funds.

For

the period

ended

September

30,

2022,

there

were

no

borrowings

under

this

credit

facility

by

the

Fund.

Investment

management

fee

range

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

10.1

Real

Estate

Securities*

0.315

%

—0.465

%

0.535

%

0.685

%

0.685

%

0.785

%

0.925

%

*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund’s

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Underlying

Fund

TIAA

Access

Total

10.1

Real

Estate

Securities

12

%

12

%

23

TIAA-CREF

Real

Estate

Securities

Fund

2022

Semiannual

Report

Additional

fund

information

Portfolio

holdings

The

complete

portfolio

of

investments

for

the

Real

Estate

Securities

Fund

begins

on

page

10

of

this

report.

You

can

obtain

a

complete

list

of

the

holdings

of

the

Real

Estate

Securities

Fund

(Schedules

of

Investments)

as

of

the

most

recently

completed

fiscal

quarter

in

the

following

ways:

By

visiting

our

websites

at

TIAA.org

or

nuveen.com;

or

By

calling

us

at

800-842-2252

to

request

a

copy,

which

will

be

provided

free

of

charge.

You

can

also

obtain

a

complete

list

of

the

Real

Estate

Securities

Fund

’s

portfolio

holdings

as

of

the

most

recently

completed

fiscal

quarter,

and

for

prior

quarter-ends,

from

our

Securities

and

Exchange

Commission

(SEC)

Form

N-CSR

and

Form

N-PORT

filings.

Form

N-CSR

filings

are

as

of

March

31

or

September

30;

Form

N-PORT

filings

are

as

of

December

31

or

June

30.

Copies

of

these

forms

are

available:

Through

the

Electronic

Data

Gathering

and

Retrieval

System

(EDGAR)

on

the

SEC’s

website

at

sec.gov;

or

From

the

SEC’s

Office

of

Investor

Education

and

Advocacy.

Call

202-551-8090

for

more

information.

Proxy

voting

The

Real

Estate

Securities

Fund

’s

ownership

of

stock

gives

it

the

right

to

vote

on

proxy

issues

of

companies

in

which

it

invests.

A

description

of

our

proxy

voting

policies

and

procedures

can

be

found

on

our

website

at

TIAA.org

or

on

the

SEC’s

website

at

sec.gov.

You

can

also

call

us

at

800-842-2252

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

sec.gov.

Contacting

TIAA

There

are

three

easy

ways

to

contact

us:

by

email,

using

the

Contact

Us

link

at

the

top

of

our

home

page;

by

mail

at

TIAA,

730

Third

Avenue,

New

York,

NY

10017-3206;

or

by

phone

at

800-842-2252.

Fund

management

The

Real

Estate

Securities

Fund

is

managed

by

the

portfolio

management

team

of

Teachers

Advisors,

LLC.

The

members

of

this

team

are

responsible

for

the

day-to-day

investment

management

of

the

Fund.

How

to

reach

us

©2022

Teachers

Insurance

and

Annuity

Association

of

America—College

Retirement

Equities

Fund,

730

Third

Avenue,

New

York,

NY

10017-3206

Websites

TIAA.org

nuveen.com

Automated

telephone

service

800-842-2252

24

hours

a

day,

7

days

a

week

For

the

hearing-

or

speech-impaired

800-842-2755

8

a.m.

to

10

p.m.

(ET),

Monday–Friday

You

should

carefully

consider

the

investment

objectives,

risks,

charges

and

expenses

of

any

fund

before

investing.

For

a

prospectus

that

contains

this

and

other

information,

please

visit

TIAA.org,

or

call

800-842-2252

for

the

Institutional,

Advisor,

Premier,

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

Please

read

the

prospectus

carefully

before

investing.

Investment,

insurance

and

annuity

products

are

not

Federal

Deposit

Insurance

Corporation

(FDIC)

insured,

are

not

bank

guaranteed,

are

not

bank

deposits,

are

not

insured

by

any

federal

government

agency,

are

not

a

condition

to

any

banking

service

or

activity,

and

may

lose

value.

Nuveen,

a

subsidiary

of

TIAA,

provides

investment

advice

and

portfolio

management

services

through

a

dozen

affiliated

registered

investment

advisers.

Nuveen

Securities,

LLC

and

TIAA-CREF

Individual

&

Institutional

Services,

LLC,

members

FINRA,

distribute

securities

products.

This

material

is

for

informational

or

educational

purposes

only

and

does

not

constitute

fiduciary

investment

advice

under

ERISA,

a

securities

recommendation

under

all

securities

laws,

or

an

insurance

product

recommendation

under

state

insurance

laws

or

regulations.

This

material

does

not

take

into

account

any

specific

objectives

or

circumstances

of

any

particular

investor,

or

suggest

any

specific

course

of

action.

Investment

decisions

should

be

made

based

on

an

investor’s

own

objectives

and

circumstances.

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(11/22)

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A12456

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2433757

A12456

(11/22)

Item 2. Code of Conduct.

Not Applicable.

Item 3. Audit Committee Financial Expert.

Not Applicable.

Item 4. Principal Accountant Fees and Services.

Not Applicable.

Item 5. Audit Committee of Listed Registrants.

Not Applicable.

Item 6. Schedule of Investments.

a) See Portfolio of investments in Item 1.

b) Not applicable.

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. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not Applicable

Item 13. Exhibits.

13(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.

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

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

13(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 FUNDS
Dated: November 18, 2022	By:	/s/ Bradley Finkle
		Bradley Finkle
		Principal Executive Officer and President

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

Dated: November 18, 2022	By:	/s/ Bradley Finkle
		Bradley Finkle
		Principal Executive Officer and President
		(principal executive officer)

Dated: November 18, 2022	By:	/s/ E. Scott Wickerham
		E. Scott Wickerham
		Principal Financial Officer, Principal Accounting Officer and Treasurer
		(principal financial officer)