N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number File No. 811-4415

COLLEGE RETIREMENT EQUITIES FUND

(Exact name of Registrant as specified in charter)

730 Third Avenue, New York, New York 10017-3206

(Address of principal executive offices) (Zip code)

Stewart P. Greene, Esq.

c/o TIAA-CREF

730 Third Avenue

New York, New York 10017-3206

(Name and address of agent for service)

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

Date of fiscal year end: December 31

Date of reporting period: September 30, 2009

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2009

PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
GOVERNMENT BONDS - 0.00%**
U.S. TREASURY SECURITIES - 0.00%**
$	325,000	United States Treasury Note	5.000%	2/15/11	$	345
		TOTAL U.S. TREASURY SECURITIES				345
		TOTAL GOVERNMENT BONDS				345
		(Cost $323)

SHARES			COMPANY
PREFERRED STOCKS - 0.03%
FOOD AND KINDRED PRODUCTS - 0.02%
	181,925	*	Ambev Cia De Bebidas Das	15,020
			TOTAL FOOD AND KINDRED PRODUCTS	15,020
HOLDING AND OTHER INVESTMENT OFFICES - 0.01%
	107,310	*	Goodman PLUS Trust	6,153
			TOTAL HOLDING AND OTHER INVESTMENT OFFICES	6,153
SECURITY AND COMMODITY BROKERS - 0.00%**
	370,000		Daishin Securities Co Ltd	2,798
			TOTAL SECURITY AND COMMODITY BROKERS	2,798
TRANSPORTATION BY AIR - 0.00%**
	1,366	*,m	Malaysian Airline System BHD	0	^
			TOTAL TRANSPORTATION BY AIR	0	^
			TOTAL PREFERRED STOCKS	23,971
			(Cost $25,093)
COMMON STOCKS - 99.60%
ADMINISTRATION OF ECONOMIC PROGRAMS - 0.00%**
	55,422	e	Bureau Veritas S.A.	3,127
	3,018		Thessaloniki Port Authority S.A.	59

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
			TOTAL ADMINISTRATION OF ECONOMIC PROGRAMS	$	3,186
AGRICULTURAL PRODUCTION-CROPS - 0.01%
	2,245		Bonifica Ferraresi e Imprese Agricole S.p.A		130
	262,414	*,e	Chiquita Brands International, Inc		4,241
	19,082	e	Griffin Land & Nurseries, Inc (Class A)		611
			TOTAL AGRICULTURAL PRODUCTION-CROPS		4,982
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.01%
	66,597	e	Cal-Maine Foods, Inc		1,783
	2,271		Seaboard Corp		2,952
			TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		4,735
AGRICULTURAL SERVICES - 0.00%**
	106,492	*	Black Earth Farming Ltd		367
	70,061	*,e	Cadiz, Inc		820
	78,952	e	Calavo Growers, Inc		1,499
	42,838	*,e	Hanfeng Evergreen, Inc		242
	28,900		Hokuto Corp		668
	4,475		KWS Saat AG.		779
	55,704		MP Evans Group plc		296
			TOTAL AGRICULTURAL SERVICES		4,671
AMUSEMENT AND RECREATION SERVICES - 0.52%
	153,742		888 Holdings plc		226
	763	e	Accordia Golf Co Ltd		721
	443,546	e	Aristocrat Leisure Ltd		2,054
	25,700	e	Aruze Corp		421
	303,099	*	Bally Technologies, Inc		11,630
	951,550		Berjaya Sports Toto BHD		1,218
	63,210		Betsson AB (Series B)		991
	33,064	*	bwin Interactive Entertainment		1,500
	47,723		Churchill Downs, Inc		1,837
	19,629	*	Codere S.A.		183
	17,132		CTS Eventim AG.		776
	70,148		Dover Downs Gaming & Entertainment, Inc		400
	1,211,542	*	Electronic Arts, Inc		23,080
	22,916	*	Euro Disney SCA		210
	248	e	Fields Corp		372
	13,517		Fiera Milano S.p.A.		102
	59,000		Fuji Kyuko Co Ltd		277
	14,729,000	*,e	Galaxy Entertainment Group Ltd		6,500
	602,000	*	Gallant Venture Ltd		158
	14,000		GL Events		323
	84,715	*	Great Canadian Gaming Corp		644

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,821	*,e	Groupe Partouche	$	62
	44,870	*	Gruppo Coin S.p.A.		254
	42,700		Heiwa Corp		471
	486,195		IG Group Holdings plc		2,589
	127,518		International Speedway Corp (Class A)		3,516
	118,953		Intralot S.A.-Integrated Lottery Systems & Services		820
	75,409	*	Juventus Football Club S.p.A		113
	151,840		Kangwon Land, Inc		2,242
	1,815,616		Ladbrokes plc		5,438
	80,856	*,e	Lakes Entertainment, Inc		272
	218,262	*	Life Time Fitness, Inc		6,122
	488,501	*,e	Live Nation, Inc		4,001
	7,644	e	Lottomatica S.p.A.		171
	107,353		Luminar Group Holdings plc		165
	9,739	*	Meetic		326
	1,922,258	*,e	Melco PBL Entertainment Macau Ltd (ADR)		13,379
	125,960	*,e	Multimedia Games, Inc		645
	7,181,755		NagaCorp Ltd		945
	176,249		Nintendo Co Ltd		45,159
	204,230		OPAP S.A.		5,266
	41,208	e	Oriental Land Co Ltd		2,901
	670		Pacific Golf Group International Holdings KK		469
	102,473		Paddy Power plc		3,119
	195,967	*,e	PartyGaming plc		849
	953,294	*	Penn National Gaming, Inc		26,368
	346,440	*	Pinnacle Entertainment, Inc		3,530
	603,767	e	Publishing & Broadcasting Ltd		1,582
	593,057	*,e	Rank Group plc		846
	3,880,000		Resorts World BHD		3,072
	38,950,600	*	Rexcapital Financial Holdings Ltd		3,468
	62,100	e	Round One Corp		526
	694,715	e	Sega Sammy Holdings, Inc		9,039
	2,010,000		SJM Holdings Ltd		1,089
	36,690		SkiStar AB (Series B)		663
	397,050		Sky City Entertainment Group Ltd		932
	62,442	*	Snai S.p.A.		291
	67,628		Speedway Motorsports, Inc		973
	465,311	*	Sportingbet plc		519
	1,023,344	e	TABCORP Holdings Ltd		6,437
	475,300		Tanjong plc		2,060
	4,401,866		Tattersall’s Ltd		9,864
	207,116	*	Ticketmaster		2,421
	248,000	e	Tokyo Dome Corp		760
	93,142	*,e	Town Sports International Holdings, Inc		234
	57,100		Valor Co Ltd		520
	58,021		Vocento S.A.		390

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,110,341		Walt Disney Co	$	250,169
	331,947	*,e	Warner Music Group Corp		1,836
	1,200,983		William Hill plc		3,384
	188,313	*,e	WMS Industries, Inc		8,391
	108,340	e	World Wrestling Entertainment, Inc (Class A)		1,518
	38,000	e	Yomiuri Land Co Ltd		140
	27,100		Yoshimoto Kogyo Co Ltd		404
	195,178	*,e	Youbet.com, Inc		410
			TOTAL AMUSEMENT AND RECREATION SERVICES		494,753
APPAREL AND ACCESSORY STORES - 0.73%
	272,488	e	Abercrombie & Fitch Co (Class A)		8,959
	596,455	*,e	Aeropostale, Inc		25,928
	140,095	*,e	American Apparel, Inc		492
	2,650,476		American Eagle Outfitters, Inc		44,687
	643,226	*,e	AnnTaylor Stores Corp		10,221
	74,000		Aoyama Trading Co Ltd		1,270
	3,380,000	*	Apac Resources Ltd		244
	120,977	e	Bebe Stores, Inc		890
	4,693,400		Belle International Holdings Ltd		4,821
	33,449		Bjoern Borg AB		271
	224,232	e	Brown Shoe Co, Inc		1,798
	129,256	e	Buckle, Inc		4,413
	499,057		Burberry Group plc		4,016
	494,245	*	Carter’s, Inc		13,196
	188,838		Cato Corp (Class A)		3,832
	9,821		Charles Voegele Holding AG.		431
	16,900	*,e	Charlotte Russe Holding, Inc		296
	650,822	*,e	Charming Shoppes, Inc		3,196
	646,329	*	Chico’s FAS, Inc		8,402
	110,957	*,e	Children’s Place Retail Stores, Inc		3,324
	24,500		Chiyoda Co Ltd		348
	195,080	e	Christopher & Banks Corp		1,321
	90,687	*,e	Citi Trends, Inc		2,582
	348,045	*,e	Collective Brands, Inc		6,032
	23,862	*,e	Destination Maternity Corp		433
	246,059	*,e	Dress Barn, Inc		4,412
	72,919	*,e	DSW, Inc (Class A)		1,165
	10,637		Etam Developpement S.A.		238
	61,414	e	Fast Retailing Co Ltd		7,772
	330,467	e	Finish Line, Inc (Class A)		3,358
	860,452		Foot Locker, Inc		10,282
	52,309		Forzani Group Ltd/The		660
	239,869		Foschini Ltd		1,980
	5,143,030		Gap, Inc		110,060
	1,514,000		Giordano International Ltd		377

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	386,988	*,e	Hanesbrands, Inc	$	8,282
	810,327	e	Hennes & Mauritz AB (B Shares)		45,507
	42,120	e	Honeys Co Ltd		304
	246,930	*,e	Hot Topic, Inc		1,850
	217,554		Inditex S.A.		12,483
	291,826	*,e	J Crew Group, Inc		10,453
	89,888	*	JOS A Bank Clothiers, Inc		4,024
	107,809		KappAhl Holding AB		767
	2,574,694	*	Kohl’s Corp		146,885
	1,453,228	e	Limited Brands, Inc		24,690
	16,214		Lotte Shopping Co Ltd		4,369
	342,771	*	Lululemon Athletica, Inc		7,798
	23,098		Macintosh Retail Group NV		478
	133,407	*,e	New York & Co, Inc		683
	80,400	e	Nishimatsuya Chain Co Ltd		845
	1,612,792	e	Nordstrom, Inc		49,254
	371,535	*	Pacific Sunwear Of California, Inc		1,913
	70,537	e	Reitmans Canada Ltd		1,039
	44,100		Right On Co Ltd		432
	94,615	*,e	rnb Retail and Brands AB		100
	937,861	e	Ross Stores, Inc		44,802
	47,534	*,e	Shoe Carnival, Inc		733
	289,507	e	Sports Direct International plc		474
	221,416		Stage Stores, Inc		2,870
	33,181	*,e	Syms Corp		268
	159,540	e	Talbots, Inc		1,473
	506,670		Truworths International Ltd		2,867
	138,210	*,e	Tween Brands, Inc		1,160
	163,207	*,e	Under Armour, Inc (Class A)		4,542
	38,400		United Arrows Ltd		337
	542,831	*	Urban Outfitters, Inc		16,377
	678,664	*,e	Wet Seal, Inc (Class A)		2,565
	1,215,675		Woolworths Holdings Ltd		2,614
			TOTAL APPAREL AND ACCESSORY STORES		694,945
APPAREL AND OTHER TEXTILE PRODUCTS - 0.28%
	86,900	e	Benetton Group S.p.A.		880
	1,571,000	e	C C Land Holdings Ltd		849
	3,518,600		China Dongxiang Group Co		2,347
	670,000		China Ting Group Holdings Ltd		99
	61,311	e	Columbia Sportswear Co		2,524
	22,200	e	Daidoh Ltd		167
	1,898,297	e	Debenhams plc		2,304
	45,000		Descente Ltd		207
	19,600	*	F&A Aqua Holdings, Inc		240
	19,133		Gerry Weber International AG.		635

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	78,600	*,e	G-III Apparel Group Ltd	$	1,112
	754,504		Guess ?, Inc		27,947
	509,000		Gunze Ltd		2,331
	184,949	*,e	Gymboree Corp		8,948
	15,911	e	Hermes International		2,348
	34,074		Hugo Boss AG.		1,327
	483,750	e	Jones Apparel Group, Inc		8,674
	901,700	e	Li Ning Co Ltd		2,775
	522,553	e	Liz Claiborne, Inc		2,576
	120,716	*	Maidenform Brands, Inc		1,939
	6,442		Mariella Burani S.p.A.		24
	46,143		New Wave Group AB (B Shares)		169
	1,111,776		Nike, Inc (Class B)		71,932
	95,567	e	Onward Kashiyama Co Ltd		711
	1,097,934	e	Pacific Brands Ltd		1,162
	504,722		Phillips-Van Heusen Corp		21,597
	333,844	e	Polo Ralph Lauren Corp (Class A)		25,579
	718,500	*	Quiksilver, Inc		1,976
	101,000	e	Sanyo Shokai Ltd		332
	111,470		Shimamura Co Ltd		10,940
	386,000		Stella International Holdings Ltd		647
	33,000	*	Takihyo Co Ltd		183
	26,332	e	Ten Cate NV		580
	60,000		Tokyo Style Co Ltd		517
	136,701	*,e	True Religion Apparel, Inc		3,545
	631,854		VF Corp		45,765
	92,000		Wacoal Holdings Corp		1,201
	243,170	*	Warnaco Group, Inc		10,665
			TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		267,754
AUTO REPAIR, SERVICES AND PARKING - 0.11%
	52,420	*,e	Amerco, Inc		2,404
	442,832	*	Avis Europe PLC		251
	104,943	e	Dechra Pharmaceuticals PLC		718
	123,552	*,e	Dollar Thrifty Automotive Group, Inc		3,038
	82,162	e	Genus plc		900
	382,978	e	Helphire PLC		269
	720,478	*,e	Hertz Global Holdings, Inc		7,803
	71,285	*,e	Midas, Inc		670
	82,178	e	Monro Muffler, Inc		2,612
	150,747	*	Northgate PLC		569
	147,500	*,e	Park24 Co Ltd		1,699
	345,678		Ryder System, Inc		13,502
	11,004		Sixt AG.		333
	18,125		Sixt AG. (Preference)		424
	2,108,342		Standard Chartered plc		51,958

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	153,131		Standard Chartered plc (Hong Kong)	$	3,768
	66,538	*,e	Standard Parking Corp		1,164
	253,413	*	Wright Express Corp		7,478
			TOTAL AUTO REPAIR, SERVICES AND PARKING		99,560
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.16%
	765,591		Advance Auto Parts		30,073
	47,814	*,e	America’s Car-Mart, Inc		1,145
	183,199		Asbury Automotive Group, Inc		2,323
	433,937	*,e	Autonation, Inc		7,846
	221,665	*	Autozone, Inc		32,413
	170,493		Canadian Tire Corp Ltd		9,198
	678,954	*,e	Carmax, Inc		14,190
	425,656	*	Copart, Inc		14,136
	4,570	e	Gulliver International Co Ltd		322
	411,076		Halfords Group plc		2,314
	6,028,590		Inchcape plc		2,712
	95,508	*	Lithia Motors, Inc (Class A)		1,489
	225,504	*	Lookers plc		214
	1,720	*	MarineMax, Inc		13
	62,006		MOL Hungarian Oil and Gas plc		5,178
	411,347	*,e	O’Reilly Automotive, Inc		14,866
	631,160		Pendragon plc		386
	393,908	e	Penske Auto Group, Inc		7,555
	4,575	*,m	Rodriguez Group		19
	182,922	*,e	Rush Enterprises, Inc (Class A)		2,363
	187,737	e	Sonic Automotive, Inc (Class A)		1,971
	740	*	TravelCenters of America LLC		4
	16,780	*	US Auto Parts Network, Inc		91
			TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		150,821
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.44%
	129,368	e	Alesco Corp Ltd		516
	96,039	*,e	Builders FirstSource, Inc		419
	48,313	e	Clas Ohlson AB (B Shares)		863
	138,400		DCM Japan Holdings Co Ltd		945
	503,374	e	Fastenal Co		19,481
	8,446,523		Home Depot, Inc		225,014
	65,900	e	Keiyo Co Ltd		333
	4,868,119		Kingfisher plc		16,564
	6,906,153		Lowe’s Cos, Inc		144,615
	71,296	*,e	Lumber Liquidators, Inc		1,546
	65,000		Nice Holdings, Inc		138
	63,997		Praktiker Bau- und Heimwerkermaerkte AG.		883
	172,932	*,e	RONA, Inc		2,423

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,900		Stella-Jones, Inc	$	140
	279,476	e	Travis Perkins plc		3,721
	34,000		Wood One Co Ltd		110
			TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		417,711
	BUSINESS SERVICES - 6.33%
	2,378,189	*	3Com Corp		12,438
	80,941	*	3D Systems Corp		747
	264,049	e	Aaron Rents, Inc		6,971
	270,698	e	ABM Industries, Inc		5,695
	37,853	*	Absolute Software Corp		202
	170,446	*,e	Acacia Research (Acacia Technologies)		1,485
	251	*,e	Access Co Ltd		709
	250,560	*,e	ACI Worldwide, Inc		3,791
	224,014	*,e	ActivIdentity Corp		621
	2,147,957	*	Activision Blizzard, Inc		26,613
	257,797	*	Actuate Corp		1,490
	497,861		Acxiom Corp		4,710
	704,329		Adecco S.A.		37,449
	106,684	e	Administaff, Inc		2,803
	3,447,659	*	Adobe Systems, Inc		113,910
	85,142	*,e	Advent Software, Inc		3,427
	1,231,037		Aegis Group PLC		2,203
	25,300		Aeon Delight Co Ltd		358
	607,865	*	Affiliated Computer Services, Inc (Class A)		32,928
	345,501	e	Aggreko PLC		3,876
	234,065	e	Aircastle Ltd		2,263
	579,128	*,e	Akamai Technologies, Inc		11,397
	550,807	*,e	Alliance Data Systems Corp		33,643
	150,447	e	Alpha Systems, Inc		3,084
	135,699	*,e	Altran Technologies S.A.		751
	790,072	*	Amdocs Ltd		21,237
	185,873	*	American Reprographics Co		1,770
	124,256		American Software, Inc (Class A)		811
	167,048	*,e	AMICAS, Inc		601
	239,655	*	AMN Healthcare Services, Inc		2,279
	321,652		Anite plc		182
	328,633	*,e	Ansys, Inc		12,314
	127,497	*,e	APAC Customer Services, Inc		754
	129,428	e	Arbitron, Inc		2,687
	68,212	*,e	ArcSight, Inc		1,642
	359,387		Argo Graphics, Inc		4,164
	480,172	*,e	Ariba, Inc		5,570
	83,171	*	Arques Industries AG.		231
	814,729	*	Art Technology Group, Inc		3,145
	46,282	*	AS. Roma S.p.A		61

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,400	e	Asatsu-DK, Inc	$	663
	679,261		Ashtead Group plc		934
	110,263		Asseco Poland S.A.		2,374
	74,638	*,e	Asset Acceptance Capital Corp		541
	164,915	*	athenahealth, Inc		6,328
	436,359	e	Atos Origin S.A.		22,030
	1,046,958	*	Autodesk, Inc		24,918
	1,953,552		Automatic Data Processing, Inc		76,775
	6,555,811	*	Autonomy Corp plc		170,672
	800,335		Aveva Group plc		11,748
	790,538	*,e	Avis Budget Group, Inc		10,562
	241,994	*	Avocent Corp		4,905
	73,703		B2W Companhia Global Do Varejo		2,072
	39,900		Barrett Business Services, Inc		422
	24,667		Bechtle AG.		624
	453,868	e	BGC Partners, Inc (Class A)		1,943
	218,235	e	Blackbaud, Inc		5,063
	155,873	*,e	Blackboard, Inc		5,889
	195,460	*	Blue Coat Systems, Inc		4,415
	884,252	*	BMC Software, Inc		33,186
	152,830	*	Bottomline Technologies, Inc		1,972
	457,161	*,e	BPZ Energy, Inc		3,438
	260,991		Brady Corp (Class A)		7,496
	270,629		Brink’s Co		7,283
	208,418	*	Brink’s Home Security Holdings, Inc		6,417
	28,735		Brunel International		982
	87,945	*	Bull S.A.		429
	1,959,518		CA, Inc		43,090
	137,919	e	Cabcharge Australia Ltd		692
	241,232	*,e	CACI International, Inc (Class A)		11,403
	810,693	*	Cadence Design Systems, Inc		5,950
	42,056	*,e	CAI International, Inc		310
	23,454		Cairo Communication S.p.A		82
	169,687	*,e	Callidus Software, Inc		511
	491,485		Cam Finanziaria S.p.A.		257
	63,300	e	Capcom Co Ltd		1,244
	75,227	*,e	Capella Education Co		5,066
	175,990	*,e	Cavium Networks, Inc		3,779
	216,246	*,e	CBIZ, Inc		1,613
	11,297		Cegid Group		266
	99,100	e	Century Leasing System, Inc		1,083
	207,658	*,e	Cerner Corp		15,533
	5,128		Cewe Color Holding AG.		178
	906,412	*	CGI Group, Inc		10,616
	201,400	*	Check Point Software Technologies		5,710
	5,512,000	*	China LotSynergy Holdings Ltd		220

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	46,000		Chinese Gamer International Corp	$	675
	13,600	*	Chiyoda Integre Co Ltd		180
	185,208	*	Chordiant Software, Inc		720
	418,419	*	Ciber, Inc		1,674
	625,919	*,e	Citrix Systems, Inc		24,555
	124,993	*,e	Clear Channel Outdoor Holdings, Inc (Class A)		875
	58,316	*,e	Clinical Data, Inc		972
	225,135	*,e	Cogent Communications Group, Inc		2,544
	326,229	*,e	Cogent, Inc		3,295
	198,271		Cognex Corp		3,248
	1,688,029	*	Cognizant Technology Solutions Corp (Class A)		65,259
	274,912	*	Commvault Systems, Inc		5,704
	1,003,601		Companhia Brasileira de Meios de Pagamento		9,959
	192,062	e	Compass Diversified Trust		2,011
	78,617	*,e	Compellent Technologies, Inc		1,419
	298,467	e	Computacenter plc		1,527
	46,444	e	Computer Programs & Systems, Inc		1,923
	1,085,114	*	Computer Sciences Corp		57,196
	72,079	*,e	Computer Task Group, Inc		585
	488,129	e	Computershare Ltd		4,806
	1,656,918	*	Compuware Corp		12,145
	94,292	*	COMSYS IT Partners, Inc		603
	199,314	*,e	Concur Technologies, Inc		7,925
	140,101	e	Connaught plc		907
	115,232	*,e	Constant Contact, Inc		2,218
	782,592	*	Convergys Corp		7,779
	1,676,000	e	COSCO Pacific Ltd		2,405
	97,730	*,e	CoStar Group, Inc		4,028
	42,422		Cramo Oyj (Series B)		669
	591,000		CSE Global Ltd		334
	224,535	*	CSG Systems International, Inc		3,595
	97,000	e	CSK Holdings Corp		366
	164,091		Ctrip.com International Ltd (ADR)		9,647
	590	e	CyberAgent, Inc		758
	348,688	*,e	Cybersource Corp		5,813
	16,720	e	Dassault Systemes S.A.		932
	184,608	*,e	DealerTrack Holdings, Inc		3,491
	97,439	*,e	Deltek, Inc		749
	340,626	e	Deluxe Corp		5,825
	178	e	Dena Co Ltd		492
	147,800	e	Dentsu, Inc		3,441
	13,981		Devoteam S.A.		381
	125,106	*,e	Dice Holdings, Inc		821
	209,242	*	Digital River, Inc		8,437
	154,753	*,e	DivX, Inc		845
	118,034	*	Double-Take Software, Inc		1,203

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	769,069	*,e	DST Systems, Inc	$	34,454
	21,600		DTS Corp		198
	77,700		Duskin Co Ltd		1,460
	40,949	*	Dynamics Research Corp		533
	418,331	*,e	DynCorp International, Inc (Class A)		7,530
	1,696		eAccess Ltd		1,185
	735,868	e	Earthlink, Inc		6,189
	6,091,374	*	eBay, Inc		143,816
	34,190	*,e	Ebix, Inc		1,893
	158,712	*,e	Echelon Corp		2,043
	301,836	*	Eclipsys Corp		5,825
	74,800		EDB Business Partner ASA		316
	100,514		Electro Rent Corp		1,158
	277,669	*	Electronics for Imaging, Inc		3,129
	33,558	*	eLoyalty Corp		269
	1,064,196		Emeco Holdings Ltd		821
	252,000	e	Ementor ASA		1,592
	5,363		Engineering Ingegneria Informatica S.p.A.		189
	243	e	en-japan, Inc		333
	298,765	*,e	Epicor Software Corp		1,903
	159,183	*,e	EPIQ Systems, Inc		2,308
	464,755		Equifax, Inc		13,543
	57,564	e	Euromoney Institutional Investor plc		343
	656,572	*,e	Evergreen Energy, Inc		407
	13,042		Exact Holding NV		342
	76,516	*,e	ExlService Holdings, Inc		1,137
	753,118	*,e	Expedia, Inc		18,037
	2,749,627		Experian Group Ltd		23,136
	358,817	*	F5 Networks, Inc		14,220
	155,887		Factset Research Systems, Inc		10,326
	259,736	e	Fair Isaac Corp		5,582
	177,010	*,e	FalconStor Software, Inc		880
	928,407	e	Fidelity National Information Services, Inc		23,684
	59,616		Fidessa Group plc		1,115
	8,309		Fimalac		438
	62,968	*	First Advantage Corp (Class A)		1,168
	28,510	*	FirstService Corp		550
	477,144	*,e	Fiserv, Inc		22,998
	66,926		Fluidra S.A.		293
	75,973	*,e	Forrester Research, Inc		2,024
	25	*,e	Freebit Co Ltd		133
	92,175		F-Secure Oyj		393
	40,500		FUJI SOFT, Inc		682
	4,749,360	e	Fujitsu Ltd		31,057
	229		Future Architect, Inc		97
	46,497		Fuyo General Lease Co Ltd		1,046

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	311,115	*,e	Gartner, Inc	$	5,684
	16,444	*	General de Alquiler de Maquinaria		171
	1,790	*	Gerber Scientific, Inc		11
	14,992	e	Gestevision Telecinco S.A.		189
	58,189		GFI Informatique		323
	201,511	*,e	Global Cash Access, Inc		1,473
	102,164	*,e	Global Sources Ltd		702
	60,800	*,e	GMO internet, Inc		266
	1,449,134	*	Google, Inc (Class A)		718,552
	134	e	Gourmet Navigator, Inc		331
	350,000	*	Gravity Co Ltd (ADR)		669
	14,200	*	Gree, Inc		774
	617	e	Green Hospital Supply, Inc		436
	8,777		Grenkeleasing AG.		347
	921,497		Group 4 Securicor plc		3,249
	55,596		Groupe Steria SCA		1,977
	367,618	*,e	Gruppo Editoriale L’Espresso S.p.A.		1,001
	78,659	*,e	GSE Systems, Inc		489
	153,604	*,e	H&E Equipment Services, Inc		1,740
	280,525	*,e	Hackett Group, Inc		814
	17,352	e	Hakuhodo DY Holdings, Inc		945
	629,134	e	Havas S.A.		2,669
	1,796,861	e	Hays plc		2,987
	219,942		HCL Technologies Ltd		1,558
	105,896		Healthcare Locums plc		442
	211,749	e	Healthcare Services Group		3,888
	185,503	e	Heartland Payment Systems, Inc		2,692
	23,020	*,e	HeartWare International, Inc		690
	94,004	e	Heidrick & Struggles International, Inc		2,187
	34,446	*	Hi-Media S.A.		239
	25,600		Hitachi Information Systems Ltd		826
	21,400		Hitachi Systems & Services Ltd		510
	334,185	*,e	HLTH Corp		4,882
	128,134	*	HMS Holdings Corp		4,899
	448,800		Hogg Robinson Group plc		256
	156,012	*,e	i2 Technologies, Inc		2,502
	1,047,661	e	IBA Health Group Ltd		772
	30,500	e	IBJ Leasing Co Ltd		440
	49,632	*	ICT Group, Inc		521
	993		IDS Scheer AG.		22
	173,888		iGate Corp		1,492
	178,625	*,e	IHS, Inc (Class A)		9,133
	136,280		iiNET Ltd		248
	37,344	e	Imergent, Inc		294
	1,672,034		IMS Health, Inc		25,666
	420,325	e	Indra Sistemas S.A.		10,481

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	40,072		Industrial & Financial Systems	$	361
	85,100		Ines Corp		723
	213,399	e	infoGROUP, Inc		1,496
	691,117	*,e	Informatica Corp		15,605
	431,900	a	Information Development Co		2,887
	13,900		Information Services International-Dentsu Ltd		99
	165,842	e	Infospace, Inc		1,284
	676,265		Infosys Technologies Ltd		32,424
	23,300		Infosys Technologies Ltd (ADR)		1,130
	137,180	*,e	Innerworkings, Inc		678
	123,407	*,e	Innodata Isogen, Inc		981
	103,567	*,e	Integral Systems, Inc		715
	15,915	a	Intelligent Wave, Inc		2,828
	118,001		Interactive Data Corp		3,093
	101,023	*	Interactive Intelligence, Inc		1,931
	309,203	*,e	Internap Network Services Corp		993
	131,686	*,e	Internet Brands, Inc (Class A)		1,051
	192,443	*	Internet Capital Group, Inc		1,609
	99	e	Internet Initiative Japan, Inc		231
	4,496,596	*,e	Interpublic Group of Cos, Inc		33,814
	83,730	e	Intrum Justitia AB		937
	1,135,644	*,e	Intuit, Inc		32,366
	239,867	*	inVentiv Health, Inc		4,013
	270,395	e	Ipass, Inc		373
	175,710	e	Iress Market Technology Ltd		1,316
	684,461	*,e	Iron Mountain, Inc		18,248
	109,629		IT Holdings Corp		1,513
	451,856	e	ITE Group plc		883
	424,693	e	Jack Henry & Associates, Inc		9,968
	51,308	e	JC Decaux S.A.		1,111
	148,248	*	JDA Software Group, Inc		3,253
	320,045	e	JSR Corp		6,560
	2,911,344	*	Juniper Networks, Inc		78,665
	253	e	Kakaku.com, Inc		930
	9,103		Kardex AG.		312
	159,116		Kelly Services, Inc (Class A)		1,957
	167,327	*	Kenexa Corp		2,256
	62,320	*	Keynote Systems, Inc		588
	175,020	*	Kforce, Inc		2,104
	150,368	*,e	Knot, Inc		1,642
	76,133	e	Konami Corp		1,552
	82,367		Kontron AG.		1,010
	239,452	*	Korn/Ferry International		3,494
	172,972	*,e	Lamar Advertising Co (Class A)		4,746
	56,988		Lavendon Group PLC		166
	872,323	*	Lawson Software, Inc		5,443

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	202,751	*,e	Limelight Networks, Inc	$	823
	325,849	*	Lionbridge Technologies		847
	74,313	*,e	Liquidity Services, Inc		767
	231,693	*	Liveperson, Inc		1,168
	2,183,612	e	LogicaCMG plc		4,540
	18,700	*	LogMeIn, Inc		342
	630	*	LoJack Corp		3
	44,793	*,e	Longtop Financial Technologies Ltd (ADR)		1,275
	104,585	e	Loomis AB		1,028
	49,183	*	MacDonald Dettwiler & Associates Ltd		1,444
	432		Macromill, Inc		647
	110,977	*,e	Manhattan Associates, Inc		2,242
	476,269	e	Manpower, Inc		27,009
	124,618	*	Mantech International Corp (Class A)		5,877
	128,135	e	Marchex, Inc (Class B)		629
	466,594	e	Mastercard, Inc (Class A)		94,321
	895,499	*	McAfee, Inc		39,214
	21,005	*,e	Medidata Solutions, Inc		318
	38,500	e	Meitec Corp		654
	523,143	*	Mentor Graphics Corp		4,870
	839,419		Michael Page International PLC		4,489
	393,235	e	Micro Focus International plc		2,234
	46,738,513		Microsoft Corp		1,210,059
	67,059	*	MicroStrategy, Inc (Class A)		4,797
	517,075		Misys plc		1,707
	280,296	e	Mitsubishi UFJ Lease & Finance Co Ltd		8,462
	66	*,e	Mixi Inc		436
	278,387	*	ModusLink Global Solutions, Inc		2,252
	495,012	*,e	MoneyGram International, Inc		1,554
	108,741	*	Monotype Imaging Holdings, Inc		915
	429,839	*,e	Monster Worldwide, Inc		7,514
	1,321,599	e	Moody’s Corp		27,040
	67,480		Morgan Sindall plc		717
	22,300	e	Moshi Moshi Hotline, Inc		435
	765,917	*,e	Move, Inc		2,068
	528,667	*	MPS Group, Inc		5,562
	251,239	*	MSC Software Corp		2,113
	32,899	*,e	NCI, Inc (Class A)		943
	1,183,922	*	NCR Corp		16,362
	15,557		Ncsoft		2,231
	927,399	e	NEC Corp		2,913
	37,700		NEC Fielding Ltd		588
	40,200		NEC Networks & System Integration Corp		548
	33,186	*	Neowiz Games Corp		1,239
	233,312	*	Ness Technologies, Inc		1,841
	25,401		Net Entertainment NE AB		245

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	286,132	*	Netease.com (ADR)	$	13,071
	168,099	*,e	NetFlix, Inc		7,761
	211,236	*	Netscout Systems, Inc		2,854
	52,188	*	NetSuite, Inc		798
	147,845	*,e	Network Equipment Technologies, Inc		1,069
	57,592	*	NHN Corp		8,481
	329,279		NIC, Inc		2,927
	76,200		Nihon Unisys Ltd		686
	10,000		Nippon Kanzai Co Ltd		187
	51,100	e	Nippon System Development Co Ltd		551
	335,401		Nippon Systemware Co Ltd		1,132
	14,900		Nishio Rent All Co Ltd		118
	381,540	e	Nomura Research Institute Ltd		9,075
	320,000	*	Norse Energy Corp ASA		226
	1,813,348	*	Novell, Inc		8,178
	52,500		NS Solutions Corp		962
	3,753		NTT Data Corp		12,024
	1,407,062	*,e	Nuance Communications, Inc		21,050
	7,100	e	OBIC Business Consultants Ltd		393
	17,803	e	Obic Co Ltd		3,013
	2,106,384		Omnicom Group, Inc		77,810
	331,800	*	Omniture, Inc		7,114
	207,540	*,e	On Assignment, Inc		1,214
	132,303	*,e	Online Resources Corp		816
	69,740	*	Open Text Corp		2,613
	15,298	*	OpenTable, Inc		422
	709,759	*,e	OpenTV Corp (Class A)		979
	76,600	e	Opera Software ASA		298
	73,828	e	Opnet Technologies, Inc		807
	56		OPT, Inc		84
	21,688,605		Oracle Corp		451,990
	64,221	e	Oracle Corp Japan		2,862
	13,710		ORC Software AB		261
	44,266		Ordina NV		277
	10,069	e	Otsuka Corp		602
	655,231	*	Parametric Technology Corp		9,055
	287	*,e	Pasona Group, Inc		212
	275,000		PCA Corp		2,782
	114,940	e	PC-Tel, Inc		718
	119,001	e	Pegasystems, Inc		4,109
	178,812	*,e	Perficient, Inc		1,479
	466,399	*	Perot Systems Corp (Class A)		13,852
	74,781	*,e	Pervasive Software, Inc		370
	216,422	*	Phase Forward, Inc		3,039
	146,906	*,e	Phoenix Technologies Ltd		536
	1,852,000		Pico Far East Holdings Ltd		268

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	75,183	*,e	Portfolio Recovery Associates, Inc	$	3,408
	371,622	*	Premiere Global Services, Inc		3,088
	197,039	*	Progress Software Corp		4,463
	160,694	e	Promotora de Informaciones S.A.		917
	95,293	*,e	PROS Holdings, Inc		802
	38,065		Prosegur Cia de Seguridad S.A.		1,515
	485,508	e	Publicis Groupe S.A.		19,474
	2,003		PubliGroupe AG.		230
	73,868	e	QAD, Inc		336
	116,842		Quality Systems, Inc		7,194
	333,245	*	Quest Software, Inc		5,615
	325,746	*,e	Rackspace Hosting, Inc		5,557
	138,768	*	Radiant Systems, Inc		1,490
	130,048	*,e	Radisys Corp		1,130
	15,824	e	Rakuten, Inc		10,542
	74,657	e	Ramirent Oyj		834
	77,483		Randstad Holdings NV		3,347
	263,298	*,e	Raser Technologies, Inc		403
	462,702	*	RealNetworks, Inc		1,721
	573,326	*,e	Red Hat, Inc		15,847
	59,053		Redflex Holdings Ltd		123
	47,122	e	Renaissance Learning, Inc		468
	368,669	*	Rent-A-Center, Inc		6,960
	52,736	*,e	Rewards Network, Inc		725
	16,700		Ricoh Leasing Co Ltd		367
	244,013		Rightmove plc		2,164
	160,213	*	RightNow Technologies, Inc		2,313
	111,028	*,e	Riskmetrics Group Inc		1,623
	131,358	e	Ritchie Bros Auctioneers, Inc		3,251
	632,912	e	Robert Half International, Inc		15,835
	211,965	e	Rollins, Inc		3,996
	31,142	*,e	Rosetta Stone, Inc		715
	236,544	*,e	RSC Holdings, Inc		1,720
	354,444	*	S1 Corp		2,190
	19,678		S1 Corp (Korea)		865
	118,584	*,e	Saba Software, Inc		499
	1,050,934		Sage Group plc		3,920
	807,200	*,e	Salesforce.com, Inc		45,954
	108,113	*	Sandvine Corp		131
	1,626,682		SAP AG.		79,220
	82,091		SAP AG. (ADR)		4,012
	601,147	*	Sapient Corp		4,833
	822,614		Satyam Computer Services Ltd		2,037
	81,098	*	SDL plc		469
	229,807		Secom Co Ltd		11,572
	354,659	e	Securitas AB (B Shares)		3,424

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	226,911	e	Seek Ltd	$	1,103
	16,239	*	SeLoger.com		651
	1,597		SGS S.A.		2,150
	226,187	*,e	Shanda Games Ltd (ADR)		2,646
	7,601		SimCorp AS		1,558
	23,351	*	Sina Corp		886
	3,868,423		Singapore Post Ltd		2,540
	165,524	*	SK Broadband Co Ltd		732
	148,535		Skilled Group Ltd		256
	144,334	*	Smith Micro Software, Inc		1,784
	30	*	SMS Co Ltd		67
	6,409		Societe Des Autoroutes Paris-Rhin-Rhone		488
	1,253,593	e	Softbank Corp		27,553
	38,162		Software AG.		3,239
	133,100	e	Sohgo Security Services Co Ltd		1,579
	261,345	*,e	Sohu.com, Inc		17,975
	59,338	*,e	SolarWinds, Inc		1,307
	189	e	So-net Entertainment Corp		389
	112	e	So-net M3, Inc		393
	345,210	*	SonicWALL, Inc		2,900
	1,082,997	*,e	Sonus Networks, Inc		2,296
	9,363		Sopra Group S.A.		618
	280,618		Sorun Corp		1,451
	358,969	e	Sotheby’s (Class A)		6,185
	137,666	*,e	Sourcefire, Inc		2,956
	543,839		Speedy Hire plc		376
	310,786	*	Spherion Corp		1,930
	255,759		Spotless Group Ltd		566
	89,714	*	SPSS, Inc		4,481
	91,895	e	Square Enix Co Ltd		2,488
	251,106	*	SRA International, Inc (Class A)		5,421
	117	*	Start Today Co Ltd		235
	72,675	*	StarTek, Inc		631
	189,607		Sthree plc		785
	97,199	*,e	Stratasys, Inc		1,668
	529,366		STW Communications Group Ltd		420
	198,482	*,e	SuccessFactors, Inc		2,793
	3,478,102	*	Sun Microsystems, Inc		31,616
	256,381	*,e	SupportSoft, Inc		615
	15,132		Sword Group		498
	34,525	*	SXC Health Solutions Corp		1,616
	314,828	*,e	Sybase, Inc		12,247
	212,465	*	SYKES Enterprises, Inc		4,424
	4,475,271	*	Symantec Corp		73,708
	93,160	*	Synchronoss Technologies, Inc		1,162
	163,507	*,e	SYNNEX Corp		4,984

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	804,636	*,e	Synopsys, Inc	$	18,040
	61,773	e	Syntel, Inc		2,948
	1,082,040		Taiwan Secom Co Ltd		1,717
	13,750,530		Taiwan-Sogo Shinkong Security Corp		8,982
	459,735	e	Take-Two Interactive Software, Inc		5,154
	75,040	e	TAL International Group, Inc		1,067
	158,318	*,e	Taleo Corp (Class A)		3,584
	657,628		Tata Consultancy Services Ltd		8,489
	53,085	*	TechTarget, Inc		303
	137,646	*	Telecity Group plc		704
	67,734		Teleperformance		2,273
	245,718	*	TeleTech Holdings, Inc		4,192
	804,597	*,e	Temenos Group AG.		18,867
	1,367,900	e	Tencent Holdings Ltd		22,257
	45,118	e	Textainer Group Holdings Ltd		722
	433,818	*,e	THQ, Inc		2,967
	926,779	*	TIBCO Software, Inc		8,795
	84,231	*	Tier Technologies, Inc		714
	108,519		Tietoenator Oyj		2,160
	31,700		TKC		692
	135,746	*	TNS, Inc		3,719
	2,256,000	*	Tom Group Ltd		169
	165,700		Tomra Systems ASA		775
	542,856	e	Total System Services, Inc		8,745
	28,872		TradeDoubler AB		302
	278,553	*	TradeStation Group, Inc		2,270
	32,300		Trans Cosmos, Inc/Japan		297
	27,823	*,e	Travelzoo, Inc		393
	122,862	e	Trend Micro, Inc		4,585
	251,211	*	TrueBlue, Inc		3,535
	75,250	*,e	UBISOFT Entertainment		1,425
	118,091	*,e	Ultimate Software Group, Inc		3,392
	62,716	*,e	Unica Corp		478
	2,488,958	*,e	Unisys Corp		6,646
	21,991		Unit 4 Agresso NV		473
	51,519	e	United Internet AG.		777
	492,238		United Online, Inc		3,958
	346,963	*	United Rentals, Inc		3,574
	74,737		USG People NV		1,550
	22,216		USS Co Ltd		1,324
	569,595	*,e	Valueclick, Inc		7,513
	130,145	*,e	Vasco Data Security International		966
	360,000		Venture Corp Ltd		2,298
	219		VeriSign Japan KK		90
	1,177,745	*,e	VeriSign, Inc		27,901
	125,001		Viad Corp		2,489

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	65,449	*	Virtusa Corp	$	621
	2,749,851	e	Visa, Inc (Class A)		190,041
	924,768	*	VMware, Inc (Class A)		37,148
	79,820	*	Vocus, Inc		1,667
	74,937	*,e	Volt Information Sciences, Inc		916
	24,254	*	WebMD Health Corp (Class A)		803
	288,387	*,e	Websense, Inc		4,845
	167,481	*	Website Pros, Inc		1,187
	382,599		Wipro Ltd		4,789
	122,797		Wirecard AG.		1,463
	371		Works Applications Co Ltd		255
	126,513		Wotif.com Holdings Ltd		615
	2,345,235		WPP plc		20,127
	24,241	e	Yahoo! Japan Corp		8,237
	7,886,598	*	Yahoo!, Inc		140,459
			TOTAL BUSINESS SERVICES		5,985,701
CHEMICALS AND ALLIED PRODUCTS - 11.02%
	31,600	*	5N Plus, Inc		185
	7,176,770		Abbott Laboratories		355,035
	73,781	*,b,m	Able Laboratories, Inc		0	^
	26,628	*,e	Abraxis Bioscience, Inc		969
	124,954		Accsys Technologies plc		122
	191,287	*,e	Acorda Therapeutics, Inc		4,453
	88,129	*	Actelion Ltd		5,472
	15,407	*,e	Acura Pharmaceuticals, Inc		79
	2,633	*	Addex Pharmaceuticals Ltd		88
	128,500		ADEKA Corp		1,286
	323,365	*,e	Adolor Corp		514
	312,345	e	Agrium, Inc		15,614
	238,761	e	Air Liquide		27,165
	1,067,978		Air Products & Chemicals, Inc		82,854
	328,400		Air Water, Inc		3,783
	1,556,328		Alapis Holding Industrial and Commercial S.A.		1,366
	160,991	*	Albany Molecular Research, Inc		1,394
	288,025		Albemarle Corp		9,966
	862,803		Alberto-Culver Co		23,882
	350,246	*,e	Alexion Pharmaceuticals, Inc		15,600
	7,382		ALK-Abello AS		688
	466,004	*,e	Alkermes, Inc		4,283
	298,847	*,e	Allos Therapeutics, Inc		2,167
	178,310	*,e	Alnylam Pharmaceuticals, Inc		4,044
	85,005	*,e	AMAG Pharmaceuticals, Inc		3,713
	329,138	*,e	American Oriental Bioengineering, Inc		1,600
	94,412	e	American Vanguard Corp		785
	8,804,825	*	Amgen, Inc		530,315

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	74,796	*,e	Amicus Therapeutics, Inc	$	654
	3,834		Amorepacific Corp		2,746
	110	*	AnGes MG, Inc		187
	590,994	*	Antisoma PLC		333
	141,896	e	Arch Chemicals, Inc		4,255
	67,690	*,e	Ardea Biosciences, Inc		1,240
	456,550	*,e	Arena Pharmaceuticals, Inc		2,041
	48,500	e	Arisawa Manufacturing Co Ltd		349
	60,633	e	Arkema		2,137
	314,700	*,e	Arqule, Inc		1,429
	253,036	*,e	Array Biopharma, Inc		602
	101,030	*,e	ARYx Therapeutics, Inc		316
	1,794,113	e	Asahi Kasei Corp		9,134
	23,000	*	ASKA Pharmaceutical Co Ltd		223
	384,204	*	Aspen Pharmacare Holdings Ltd		3,163
	739,580	e	Astellas Pharma, Inc		30,402
	1,509,046		AstraZeneca plc		67,624
	194,391	e	AstraZeneca plc (ADR)		8,738
	45,544	*	Atrium Innovations Inc		625
	18,181	e	Auriga Industries (Class B)		334
	289,800	*,e	Auxilium Pharmaceuticals, Inc		9,914
	346,207	*,e	AVANIR Pharmaceuticals, Inc		720
	504,894		Avery Dennison Corp		18,181
	443,434	*,e	AVI BioPharma, Inc		763
	1,384,242		Avon Products, Inc		47,009
	44,942	*	Axis-Shield PLC		305
	5,087		Bachem Holding AG.		344
	102,719		Balchem Corp		2,702
	2,072,730		BASF AG.		109,830
	8,698	*	Basilea Pharmaceutica		875
	14,242		Beiersdorf AG.		836
	106,057	*,e	BioCryst Pharmaceuticals, Inc		874
	48,018	*,e	Biodel, Inc		258
	67,656	*,e	BioDelivery Sciences International, Inc		325
	1,614,806	*	Biogen Idec, Inc		81,580
	308,260	*,e	BioMarin Pharmaceuticals, Inc		5,573
	68,152	*,e	BioMimetic Therapeutics, Inc		832
	145,500	*	Bioms Medical Corp		45
	18,302	*,e	Biospecifics Technologies Corp		586
	5,872		Biotest AG.		374
	12,980		Biotest AG. (Preference)		784
	287,435	e	Biovail Corp		4,435
	7,000	*	Biovitrum AB		60
	14,469		Boiron S.A.		529
	182,751		Braskem S.A.		1,162
	7,917,382		Bristol-Myers Squibb Co		178,299

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	784,398		Cabot Corp	$	18,127
	122,449	*,e	Cadence Pharmaceuticals, Inc		1,354
	276,050	*,e	Calgon Carbon Corp		4,094
	165,702	*	Cambrex Corp		1,044
	61,456		Campbell Brothers Ltd		1,604
	40,900	*	Cangene Corp		162
	87,811	*,e	Caraco Pharmaceutical Laboratories Ltd		447
	77,761	*,e	Cardiome Pharma Corp		338
	43,406	*,e	Cardiovascular Systems, Inc		316
	635,132		Celanese Corp (Series A)		15,878
	1,987,777	*	Celgene Corp		111,117
	2,975,849	*,e	Cell Therapeutics, Inc		3,660
	134,036	*,e	Celldex Therapeutics, Inc		736
	85,234	*	Celltrion, Inc		1,121
	223,908	*,e	Cephalon, Inc		13,040
	573,256		CF Industries Holdings, Inc		49,432
	206,072	*,e	Charles River Laboratories International, Inc		7,621
	29,509	e	Chase Corp		345
	143,929	*,e	Chattem, Inc		9,558
	48,010	*	Chelsea Therapeutics International, Inc		121
	189,720		Chemring Group PLC		7,410
	40,420	*,e	China Green Agriculture, Inc		474
	148,682	*,e	China Precision Steel, Inc		404
	36,605	*,e	China-Biotics, Inc		586
	128,053		Christian Dior S.A.		12,649
	623,828	e	Chugai Pharmaceutical Co Ltd		12,905
	76,000		Chugoku Marine Paints Ltd		478
	408,799	e	Church & Dwight Co, Inc		23,195
	604,759		Cipla Ltd		3,519
	305,364		Clariant AG.		2,779
	637,875		Clorox Co		37,520
	450	e	CMIC Co Ltd		124
	2,721,480		Colgate-Palmolive Co		207,594
	77,659	*,e	Cornerstone Therapeutics, Inc		509
	145,592	e	Croda International		1,526
	22,717	*	CropEnergies AG.		92
	978,690		CSL Ltd		28,889
	338,175	*	Cubist Pharmaceuticals, Inc		6,831
	12,600	*	Cumberland Pharmaceuticals, Inc		204
	356,063	*,e	Curis, Inc		833
	188,643	*,e	Cypress Bioscience, Inc		1,541
	377,713	e	Cytec Industries, Inc		12,264
	185,984	*	Cytokinetics, Inc		984
	121,633	*,e	Cytori Therapeutics, Inc		480
	104,000		Dai Nippon Toryo Co Ltd		118
	892,785		Daicel Chemical Industries Ltd		5,391

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	608,365	e	Daiichi Sankyo Co Ltd	$	12,558
	70,000		Dainichiseika Color & Chemicals Manufacturing Co Ltd		232
	402,784		Dainippon Ink and Chemicals, Inc		574
	113,195	e	Dainippon Sumitomo Pharma Co Ltd		1,235
	127,000		Daiso Co Ltd		398
	446,242	*,e	Dendreon Corp		12,490
	20,677	*	Devgen		257
	39,027		DiaSorin S.p.A.		1,314
	546,834	*,e	Discovery Laboratories, Inc		744
	7,192,766	e	Dow Chemical Co		187,515
	201,392		Dr Reddy’s Laboratories Ltd		4,156
	364,912		DSM NV		15,246
	3,824,480		Du Pont (E.I.) de Nemours & Co		122,919
	378,732	*,e	Durect Corp		1,011
	19,900	e	Earth Chemical Co Ltd		641
	315,838	e	Eastman Chemical Co		16,910
	987,804		Ecolab, Inc		45,666
	262,776	e	Eisai Co Ltd		9,895
	360,505	*	Elan Corp plc		2,585
	14,500	*,e	Elan Corp plc (ADR)		103
	623,525		Elementis PLC		561
	4,606,002		Eli Lilly & Co		152,136
	146,727	*,e	Elizabeth Arden, Inc		1,727
	80,165	*,e	Emergent Biosolutions, Inc		1,416
	10,001		EMS-Chemie Holding AG.		1,113
	217,403	*,e	Enzon Pharmaceuticals, Inc		1,794
	68		EPS Co Ltd		283
	22,196	e	Eramet		7,703
	665,652	e	Estee Lauder Cos (Class A)		24,682
	1,268,486		Eternal Chemical Co Ltd		1,280
	156,042	*,e	Facet Biotech Corp		2,698
	194,915	e	FAES FARMA S.A.		1,246
	38,600		Fancl Corp		612
	76,609	*,e	Female Health Co		387
	252,841	e	Ferro Corp		2,250
	124,388		Fertilizantes Fosfatados S.A.		1,285
	227,374		Filtrona plc		613
	381,508		FMC Corp		21,460
	2,468,342	*	Forest Laboratories, Inc		72,668
	3,424,933		Formosa Chemicals & Fibre Corp		6,584
	5,009,091		Formosa Plastics Corp		10,206
	8,343		Fuchs Petrolub AG.		542
	12,942		Fuchs Petrolub AG. (Preference)		946
	66,000	*	Fuso Pharmaceutical Industries Ltd		208
	34,224	*	Galapagos NV		403
	40,804	*,e	Genmab AS		1,053

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	831,739	*	Genzyme Corp	$	47,185
	471,655	*,e	Geron Corp		3,094
	6,966,887	*	Gilead Sciences, Inc		324,518
	8,252		Givaudan S.A.		6,187
	4,758,450		GlaxoSmithKline plc		93,500
	126,952		Glenmark Pharmaceuticals Ltd		628
	127,356		Grifols S.A.		2,426
	96,530	*,e	GTx, Inc		1,236
	53,000	*	Gun-Ei Chemical Industry Co Ltd		127
	121,641	e	H Lundbeck A/s		2,523
	13,144		H&R WASAG AG.		291
	269,139		H.B. Fuller Co		5,625
	418,130	*,e	Halozyme Therapeutics, Inc		2,973
	135,594		Hanwha Chemical Corp		1,473
	198,945		Haw Par Corp Ltd		815
	44,825	e	Hawkins, Inc		1,047
	685,836	*,e	Hemispherx Biopharma, Inc		1,372
	183,094		Henkel KGaA		6,653
	618,465	e	Henkel KGaA (Preference)		26,626
	178,135	e	Hikma Pharmaceuticals plc		1,335
	1,189,130		Hindustan Lever Ltd		6,491
	43,200		Hisamitsu Pharmaceutical Co, Inc		1,752
	39,637	*,e	Hi-Tech Pharmacal Co, Inc		889
	17,605		Honam Petrochemical Corp		1,325
	771,869	*	Hospira, Inc		34,425
	861,391	*	Human Genome Sciences, Inc		16,211
	5,592,423		Huntsman Corp		50,947
	176,647	*,e	ICO, Inc		825
	374,021	*,e	Idenix Pharmaceuticals, Inc		1,156
	128,247	*,e	Idera Pharmaceuticals, Inc		950
	180,288	*,e	Idexx Laboratories, Inc		9,014
	445,315	*	Immucor, Inc		7,882
	354,157	*,e	Immunogen, Inc		2,872
	303,927	*,e	Impax Laboratories, Inc		2,656
	3,808,025		Incitec Pivot Ltd		9,507
	100,225		Innophos Holdings, Inc		1,854
	133,662		Innospec, Inc		1,972
	484,052	*,e	Inspire Pharmaceuticals, Inc		2,527
	4,009		Inter Parfums S.A.		113
	59,485	e	Inter Parfums, Inc		726
	92,437	*,e	Intercell AG.		3,923
	182,952	*,e	InterMune, Inc		2,914
	238,616		International Flavors & Fragrances, Inc		9,051
	245,164	*,e	Inverness Medical Innovations, Inc		9,495
	1,037,396	*	Invitrogen Corp		48,291
	478,998		Ipsen		26,236

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	324,000	*	Ishihara Sangyo Kaisha Ltd	$	267
	694,694		Israel Chemicals Ltd		7,949
	254,812	*,e	Javelin Pharmaceuticals, Inc		497
	17,639,943		Johnson & Johnson		1,074,095
	83,651	e	Kaiser Aluminum Corp		3,042
	154,000		Kaken Pharmaceutical Co Ltd		1,446
	307,476		Kansai Paint Co Ltd		2,398
	781,425		Kao Corp		19,326
	22,600	e	Katakura Industries Co Ltd		263
	96,596		Kemira Oyj		1,546
	6,072,464	*,e	King Pharmaceuticals, Inc		65,400
	747,500		Kingboard Chemical Holdings Ltd		2,840
	75,000	e	Kissei Pharmaceutical Co Ltd		1,922
	42,000		Koatsu Gas Kogyo Co Ltd		257
	108,235		Koppers Holdings, Inc		3,209
	32,400	e	Kose Corp		790
	53,000	*	Kumiai Chemical Industry Co Ltd		214
	1,001,290		Kuraray Co Ltd		10,931
	136,000	e	KUREHA CORP		838
	173,383	*,e	KV Pharmaceutical Co (Class A)		532
	76,000	e	Kyorin Co Ltd		1,291
	338,540		Kyowa Hakko Kogyo Co Ltd		4,288
	387,725	*,e	La Seda de Barcelona S.A. (Class B)		193
	120,837	*	Landec Corp		773
	47,821	*,e	Lannett Co, Inc		358
	1,156,006		Lanxess AG.		39,838
	16,200		LG Household & Health Care Ltd		3,630
	551,624	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,274
	247,830		Linde AG.		26,866
	69,700		Lintec Corp		1,328
	209,000		Lion Corp		1,085
	95,113		Lonza Group AG.		10,371
	63,688	e	L’Oreal S.A.		6,333
	496,397		Lubrizol Corp		35,473
	63,065		Lupin Ltd		1,488
	227,263		Maire Tecnimont S.p.A.		1,104
	317,693		Makhteshim-Agan Industries Ltd		1,434
	19,400		Mandom Corp		555
	120,243		Mannatech, Inc		461
	283,685	*,e	MannKind Corp		2,794
	171,672	*,e	MAP Pharmaceuticals, Inc		1,796
	232,920	e	Martek Biosciences Corp		5,262
	307,479		Mcbride plc		941
	334,345	e	Meda AB (A Shares)		2,997
	206,935	e	Mediceo Paltac Holdings Co Ltd		2,912
	266,284	*	Medicines Co		2,932

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	371,330	e	Medicis Pharmaceutical Corp (Class A)	$	7,928
	72,729	*,e	Medifast, Inc		1,580
	30,917	*	Medigene AG.		235
	204,735	*,e	Medivation, Inc		5,557
	9,632,362	e	Merck & Co, Inc		304,672
	8,509		Merck KGaA		846
	199,750	e	Meridian Bioscience, Inc		4,996
	127,500	e	Methanex Corp		2,221
	285,997	*,e	Micromet, Inc		1,905
	204,379	*,e	MiddleBrook Pharmaceuticals, Inc		235
	13,900	e	Milbon Co Ltd		372
	102,528		Minerals Technologies, Inc		4,876
	83,200		Miraca Holdings, Inc		2,716
	1,275,361		Mitsubishi Chemical Holdings Corp		5,300
	276,337	e	Mitsubishi Gas Chemical Co, Inc		1,502
	105,000		Mochida Pharmaceutical Co Ltd		1,111
	96,479	*,e	Molecular Insight Pharmaceuticals, Inc		534
	174,112	*,e	Momenta Pharmaceuticals, Inc		1,847
	3,468,072		Monsanto Co		268,429
	21,640	*	Morphosys AG.		542
	704,842		Mosaic Co		33,882
	4,113,858	*,e	Mylan Laboratories, Inc		65,863
	161,334	*	Myriad Pharmaceuticals, Inc		945
	271,339	*,e	Nabi Biopharmaceuticals		974
	662,895		Nalco Holding Co		13,583
	6,222,357		Nan Ya Plastics Corp		10,181
	66,801	*,e	Nanosphere, Inc		478
	305,117	*	Natraceutical S.A.		234
	231,481		Natura Cosmeticos S.A.		4,175
	640,000		Natural Beauty Bio-Technology Ltd		109
	163,983	*	NBTY, Inc		6,490
	293,396	*,e	Neurocrine Biosciences, Inc		895
	49,055	*,e	NeurogesX, Inc		392
	63,072		NewMarket Corp		5,868
	73,400	e	Nichi-iko Pharmaceutical Co Ltd		2,367
	48,179	*	NicOx S.A.		626
	49,000	e	Nihon Nohyaku Co Ltd		354
	55,000		Nihon Parkerizing Co Ltd		686
	485,550	e	Nippon Chemiphar Co Ltd		1,671
	227,000		Nippon Kayaku Co Ltd		2,010
	242,000	e	Nippon Paint Co Ltd		1,316
	93,000		Nippon Shinyaku Co Ltd		1,316
	145,000		Nippon Shokubai Co Ltd		1,284
	216,000		Nippon Soda Co Ltd		912
	95,000		Nippon Synthetic Chemical Industry Co Ltd		651
	85,000		Nippon Valqua Industries Ltd		171

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	506,943		Nissan Chemical Industries Ltd	$	7,308
	49,306	e	NL Industries, Inc		330
	29,600	e	Noevir Co Ltd		316
	9,629,615		Novartis AG.		481,806
	2,109,838		Novartis AG. (ADR)		106,294
	310,257	*,e	Novavax, Inc		1,229
	532,284	e	Novo Nordisk AS (Class B)		33,326
	45,160	e	Novozymes AS (B Shares)		4,250
	371,857	*	NPS Pharmaceuticals, Inc		1,495
	104,822	e	Nufarm Ltd		1,050
	330,056		Nuplex Industries Ltd		582
	56,365	*,e	Nutraceutical International Corp		635
	86,499	*,e	Obagi Medical Products, Inc		1,003
	424,488	e	Olin Corp		7,403
	171,810	*	OM Group, Inc		5,221
	26,449		Omega Pharma S.A.		1,167
	244,303	*,e	Omnova Solutions, Inc		1,583
	22,534	*	OncoGenex Pharmaceutical, Inc		811
	119	*	OncoTherapy Science, Inc		244
	82,914		Ono Pharmaceutical Co Ltd		4,314
	312,178	*,e	Onyx Pharmaceuticals, Inc		9,356
	98,115		OPG Groep NV		1,623
	234,065	*,e	Opko Health, Inc		534
	142,165	*,e	Optimer Pharmaceuticals, Inc		1,923
	269,588	*,e	OraSure Technologies, Inc		782
	129,866	*,e	Orexigen Therapeutics, Inc		1,279
	58,156	e	Oriflame Cosmetics S.A.		2,978
	109,965		Oriola-KD Oyj (B Shares)		665
	16,578	e	Orion Oyj (Class B)		306
	177,934	*,e	OSI Pharmaceuticals, Inc		6,281
	76,435	*,e	Osiris Therapeutics, Inc		509
	142,437	*,e	OXiGENE, Inc		202
	1,260,774	*	Pactiv Corp		32,843
	170,700	*,e	Pain Therapeutics, Inc		864
	205,020	*,e	Par Pharmaceutical Cos, Inc		4,410
	326,840	*	Parexel International Corp		4,442
	126,300	*	Patheon, Inc		350
	802,396	e	PDL BioPharma, Inc		6,323
	276,060	e	Perrigo Co		9,383
	90,374	*	Petkim Petrokimya Holding		457
	149,227	e	PetMed Express, Inc		2,813
	40,386,744		Pfizer, Inc		668,401
	2,020,199	*,a,e	Pharmacyclics, Inc		3,960
	102,716	*,e	Pharmasset, Inc		2,171
	206,409	*,e	Pharmaxis Ltd		437
	149,331	*,e	PharMerica Corp		2,773

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	672,895	*,e	PolyOne Corp	$	4,488
	132,941	*,e	Poniard Pharmaceuticals, Inc		994
	427,567		Potash Corp of Saskatchewan		38,785
	130,016	*,e	Pozen, Inc		957
	723,726		PPG Industries, Inc		42,128
	1,677,930		Praxair, Inc		137,070
	184,893	*	Prestige Brands Holdings, Inc		1,302
	14,482,977		Procter & Gamble Co		838,854
	138,826	*,e	Progenics Pharmaceuticals, Inc		727
	282,593	*,e	Protalix BioTherapeutics, Inc		2,334
	404,900		PTT Chemical PCL		888
	206,241		PZ Cussons plc		827
	493,572	*,e	Questcor Pharmaceuticals, Inc		2,725
	131,666	*,e	Quidel Corp		2,137
	122,104		Ranbaxy Laboratories Ltd		1,024
	2,470,676		Reckitt Benckiser Group plc		120,746
	266,485	e	Recordati S.p.A.		1,885
	45,349	*,e	Repros Therapeutics, Inc		41
	105,046	*	Revlon, Inc (Class A)		511
	159,153	*,e	Rhodia S.A.		2,419
	22,558	e	Richter Gedeon Nyrt		4,669
	1,013,998		Roche Holding AG.		163,895
	278,827	*	Rockwood Holdings, Inc		5,735
	94,000	e	Rohto Pharmaceutical Co Ltd		1,283
	568,746		RPM International, Inc		10,516
	90,000		Sakai Chemical Industry Co Ltd		397
	242,908	*,e	Salix Pharmaceuticals Ltd		5,164
	1,790,103		Sanofi-Aventis		131,370
	294,312	*,e	Santarus, Inc		968
	265,404		Santen Pharmaceutical Co Ltd		9,757
	63,000		Sanyo Chemical Industries Ltd		371
	4,516		Sartorius Stedim Biotech		185
	18,000		Sawai Pharmaceutical Co Ltd		1,043
	8,476,791		Schering-Plough Corp		239,469
	206,909	*,e	Sciclone Pharmaceuticals, Inc		881
	289,093	e	Scotts Miracle-Gro Co (Class A)		12,417
	34,400		Seikagaku Corp		498
	261,310	e	Sensient Technologies Corp		7,257
	793,536	*	Sepracor, Inc		18,172
	690,996	e	Sherwin-Williams Co		41,570
	709,393		Shin-Etsu Chemical Co Ltd		43,623
	44,200		Shin-Etsu Polymer Co Ltd		316
	203,790		Shionogi & Co Ltd		4,824
	4,187,561		Shire Ltd		72,545
	887,264		Shire plc (ADR)		46,395
	275,587	e	Shiseido Co Ltd		4,805

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	835,021	e	Showa Denko KK	$	1,702
	353,651		Sidi Kerir Petrochemcials Co		749
	147,215	*,e	SIGA Technologies, Inc		1,162
	646,269	e	Sigma-Aldrich Corp		34,886
	5,024,000	e	Sinochem Hong Kong Holding Ltd		2,230
	3,416,000	e	Sinopec Shanghai Petrochemical Co Ltd		1,424
	245,200	*,e	Sinopharm Group Co		621
			Sociedad Nacional de Industrias Apicaciones Celulosa
	113,646	*	Espanola S.A.		286
	164,529		Sociedad Quimica y Minera de Chile S.A. (Class B)		6,390
	659,086	*	Solutia, Inc		7,632
	84,164		Solvay S.A.		8,738
	267,450	*,e	Spectrum Pharmaceuticals, Inc		1,800
	43,000		SSP Co Ltd		236
	11,800		ST CORP		144
	84,493		Stada Arzneimittel AG.		2,310
	9,875		Stallergenes		862
	9,200	e	Stella Chemifa Corp		508
	707,962	*,e	StemCells, Inc		1,154
	59,657		Stepan Co		3,584
	53,807	*,e	Sucampo Pharmaceuticals, Inc (Class A)		314
	1,503,061		Sumitomo Chemical Co Ltd		6,262
	115,000		Sumitomo Seika Chemicals Co Ltd		493
	86,104		Sun Pharmaceuticals Industries Ltd		2,520
	340,387	*	SuperGen, Inc		909
	80,180	*,e	SurModics, Inc		1,972
	284,178		Syngenta AG.		65,293
	123,651	*	Synta Pharmaceuticals Corp		383
	86,655	e	Taisho Pharmaceutical Co Ltd		1,752
	1,337,000		Taiwan Fertilizer Co Ltd		4,783
	17,600		Taiyo Ink Manufacturing Co Ltd		449
	510,343	e	Taiyo Nippon Sanso Corp		6,078
	1,319,527		Takeda Pharmaceutical Co Ltd		54,977
	544,055	*	Talercris Biotherapeutics Holdings Corp		10,337
	150,119	e	Tanabe Seiyaku Co Ltd		2,002
	17,500		Tenma Corp		214
	38,417		Tessenderlo Chemie NV		1,481
	1,202,643		Teva Pharmaceutical Industries Ltd		60,380
	3,004,044		Teva Pharmaceutical Industries Ltd (ADR)		151,884
	73,501	*	Theratechnologies, Inc		178
	816,169	*,e	Theravance, Inc		11,949
	248,000		Toagosei Co Ltd		843
	645,000		Tokai Carbon Co Ltd		3,047
	153,929	e	Tokuyama Corp		1,128
	50,400		Tokyo Ohka Kogyo Co Ltd		1,134
	434,675	e	Toray Industries, Inc		2,634
	25,800		Torii Pharmaceutical Co Ltd		493

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	429,750	e	Tosoh Corp	$	1,087
	12,700	e	Towa Pharmaceutical Co Ltd		624
	248,000		Toyo Ink Manufacturing Co Ltd		928
	722,000	e	Toyobo Co Ltd		1,239
	15,358	*	Transgene S.A.		409
	809,000		TSRC Corp		931
	169,000	e	Tsumura & Co		6,100
	2,942,188		UBE Industries Ltd		7,735
	619,419	e	UCB S.A.		26,141
	134,259	*	Ulta Salon Cosmetics & Fragrance, Inc		2,217
	258,728	*	Unifi, Inc		828
	360,000		United Laboratories Ltd		137
	586,188		United Phosphorus Ltd		2,021
	142,134	*,e	United Therapeutics Corp		6,963
	208,784	f	Uralkali (GDR)		3,944
	40,987	*	USANA Health Sciences, Inc		1,398
	634,656	*,e	USEC, Inc		2,977
	368,647	*,e	Valeant Pharmaceuticals International		10,344
	576,185		Valspar Corp		15,851
	1,225,456	*,e	Vanda Pharmaceuticals, Inc		14,264
	358,718	*	Vectura Group plc		488
	799,573	*,e	Vertex Pharmaceuticals, Inc		30,304
	230,980	*,e	Vical, Inc		984
	84,305		Victrex PLC		1,029
	9,536		Virbac S.A.		977
	437,794	*,e	Viropharma, Inc		4,212
	29,500	*	VITAL KSK HOLDINGS, Inc		173
	13,516		Wacker Chemie AG.		2,108
	4,710,312		Wah Lee Industrial Corp		5,744
	364,620	*,e	Watson Pharmaceuticals, Inc		13,360
	112,996	e	Westlake Chemical Corp		2,904
	411,565	*	WR Grace & Co		8,947
	6,452,313		Wyeth		313,453
	147,135	*,e	Xenoport, Inc		3,124
	196,374	e	Yara International ASA		6,181
	10,126		Yuhan Corp		1,637
	176,383		Yule Catto & Co plc		387
	166,276	e	Zeltia S.A.		1,175
	434,000		Zeon Corp		1,987
	23,000	e	ZERIA Pharmaceutical Co Ltd		252
	192,548	*,e	Zymogenetics, Inc		1,163
			TOTAL CHEMICALS AND ALLIED PRODUCTS		10,409,315
COAL MINING - 0.29%
	647,553	*,e	Alpha Natural Resources, Inc		22,729
	162,271		Anglo Pacific Group plc		536

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	106,485	*,e	Aquila Resources Ltd	$	670
	508,773	e	Arch Coal, Inc		11,259
	351,049	*	Carbon Energy Ltd		232
	1,087,835	e	Centennial Coal Co Ltd		3,090
	10,585,400		China Coal Energy Co		13,850
	4,536,500		China Shenhua Energy Co Ltd		19,814
	53,387	*	CIC Energy Corp		95
	653,423		Consol Energy, Inc		29,476
	120,356	e	Felix Resources Ltd		1,821
	243,825	e	Gloucester Coal Ltd		1,357
	517,731	*	International Coal Group, Inc		2,086
	131,033	*,e	James River Coal Co		2,504
	198,386		Kumba Resources Ltd		2,377
	3,620,490		MacArthur Coal Ltd		30,151
	299,670		Massey Energy Co		8,358
	371,500		Mitsui Mining Co Ltd		426
	1,493,869		New World Resources NV		14,707
	1,513,684		Peabody Energy Corp		56,339
	204,089	*	Pike River Coal Ltd		150
	23,105,000		PT Bumi Resources Tbk		7,710
	1,152,434		PT Tambang Batubara Bukit Asam Tbk		1,681
	779,290		Sasol Ltd		29,296
	126,082	*,e	UK Coal plc		233
	422,300	*	Western Canadian Coal Corp		1,140
	72,217	*,e	Westmoreland Coal Co		587
	560,645		Whitehaven Coal Ltd		1,840
	3,972,000	e	Yanzhou Coal Mining Co Ltd		5,730
			TOTAL COAL MINING		270,244
COMMUNICATIONS - 4.74%
	61,912	*	AboveNet, Inc		3,019
	1,337	*	Acotel Group S.p.A		116
	310,662	e	Adtran, Inc		7,627
	8,532	*	Advanced Digital Broadcast Holdings S.A.		460
	1,034,000		Advanced Info Service PCL		2,917
	134,027	f	AFK Sistema (GDR)		1,957
	218,989	e	Alaska Communications Systems Group, Inc		2,026
	26,259,913	e	America Movil S.A. de C.V. (Series L)		57,493
	1,930,238	*	American Tower Corp (Class A)		70,261
	41,977		Amper S.A.		467
	181,626	*,e	Anixter International, Inc		7,285
	78,988	e	Antena 3 de Television S.A.		836
	386,899	*,e	Aruba Networks, Inc		3,420
	520,500		Astro All Asia Networks plc		526
	32,668,459		AT&T, Inc		882,374
	45,544		Atlantic Tele-Network, Inc		2,433

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	120,187	*,e	Audiovox Corp (Class A)	$	823
	1,542,441	*,e	Austar United Communications Ltd		1,687
	283,034		Austereo Group Ltd		365
	188,324	*	Avanzit S.A.		258
	336,220	e	BCE, Inc		8,287
	919,000		BEC World PCL		622
	74,131		Belgacom S.A.		2,888
	2,665,079		Bezeq Israeli Telecommunication Corp Ltd		5,731
	91,169		Bharti Airtel Ltd		794
	90		Brasil Telecom Participacoes S.A.		2
	240,934		Brasil Telecom Participacoes S.A.		2,570
	217,565		Brasil Telecom S.A.		1,926
	349,481	*	Brightpoint, Inc		3,058
	2,152,053		British Sky Broadcasting plc		19,656
	62,250,955		BT Group plc		129,331
	606,098		Cable & Wireless plc		1,390
	764,116		Cablevision Systems Corp (Class A)		18,148
	102,372		Canal Plus		835
	54,930	e	Carphone Warehouse Group plc		168
	831,600	*	Carso Global Telecom SAB de CV		3,429
	118,903	*,e	Cbeyond Communications, Inc		1,918
	2,655,672		CBS Corp (Class B)		32,001
	57,200		Cellcom Israel Ltd		1,741
	480,983	*,e	Centennial Communications Corp		3,838
	127,146	*	Central European Media Enterprises Ltd (Class A)		4,355
	1,767,404		CenturyTel, Inc		59,385
	2,390,732		China Communications Services Corp Ltd		1,308
	8,310,910		China Mobile Hong Kong Ltd		81,071
	20,743,711	e	China Telecom Corp Ltd		9,796
	8,505,323	e	China Unicom Ltd		12,050
	6,633,913		Chunghwa Telecom Co Ltd		11,948
	1,192,185	*,e	Cincinnati Bell, Inc		4,173
	2,536,000		Citic 1616 Holdings Ltd		674
	191,993	*,e	Clearwire Corp (Class A)		1,561
	18,999	e	Cogeco Cable, Inc		538
	431,967	*,e	Colt Telecom Group S.A.		819
	18,477,055		Comcast Corp (Class A)		312,076
	232,890	f	Comstar United Telesystems (GDR)		1,223
	115,862	e	Consolidated Communications Holdings, Inc		1,855
	81,911		Corus Entertainment, Inc		1,394
	1,093,584	*	Crown Castle International Corp		34,295
	92,757	*,e	Crown Media Holdings, Inc (Class A)		145
	172,873	*	CTC Media, Inc		2,718
	108,436		Cyfrowy Polsat S.A.		562
	69,060		D&E Communications, Inc		793
	8,613,410		Deutsche Telekom AG.		117,598

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,199	*,e	DG FastChannel, Inc	$	2,119
	401,100		Digi.Com BHD		2,482
	6,647	*	Digital Multimedia Technologies S.p.A.		100
	71,802	*,e	DigitalGlobe, Inc		1,606
	3,118,176	*,e	DIRECTV Group, Inc		85,999
	3,227,447	*	DISH Network Corp (Class A)		62,161
	116	e	Dwango Co Ltd		266
	72,852		Egyptian Co for Mobile Services		2,894
	18,046		Elisa Oyj (Series A)		370
	169,648		Empresa Nacional de Telecomunicaciones S.A.		2,173
	142,386	*,e	Equinix, Inc		13,100
	157,634	e	Eutelsat Communications		4,791
	457,957	e	Fairpoint Communications, Inc		188
	3,115,317		Far EasTone Telecommunications Co Ltd		3,644
	16,999	*,e	Fastweb		478
	36,778	e	Fisher Communications, Inc		669
	96,106	*	Forthnet S.A.		240
	1,671,233	e	France Telecom S.A.		44,522
	90,558	*	Freenet AG.		1,238
	945,660	e	Frontier Communications Corp		7,130
	4,931		Fuji Television Network, Inc		8,075
	242,690	*,e	General Communication, Inc (Class A)		1,665
	87,967	*,e	GeoEye, Inc		2,358
	223,754	*,e	Global Crossing Ltd		3,200
	490,337		Global Payments, Inc		22,899
	103,997	*	Global Village Telecom Holding S.A.		2,380
	80,400		Globe Telecom, Inc		1,663
	3,627,373	e	Grupo Televisa S.A.		13,462
	40,096		Hellenic Telecommunications Organization S.A.		663
	61,159	e	HickoryTech Corp		523
	18,841	e	Hikari Tsushin, Inc		412
	41,538	*,e	Hughes Communications, Inc		1,260
			Hutchison Telecommunications Hong Kong Holdings
	7,346,351		Ltd		1,232
	1,681,351		Hutchison Telecommunications International Ltd		347
	454,375	*,e	IAC/InterActiveCorp		9,174
	177,934	*,e	Ibasis, Inc		377
	722,941	*	Idea Cellular Ltd		1,131
	20,673	e	Iliad Sa		2,329
	126,827	*	inContact, Inc		378
	642,678	e	Inmarsat plc		5,664
	99,546	*	Intracom Holdings S.A.		255
	161,163	e	Iowa Telecommunications Services, Inc		2,031
	80,033	*	iPCS, Inc		1,393
	3,954,406	e	ITV plc		2,791
	279,891	*,e	j2 Global Communications, Inc		6,440
	1,785,746	*	Jazztel plc		766

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,267		Jupiter Telecommunications Co	$	4,126
	552,244		Kcom Group plc		327
	5,330		KDDI Corp		30,045
	157,239	*,e	Knology, Inc		1,533
	231,026		KT Corp		7,931
	269,272	*,e	Leap Wireless International, Inc		5,264
	5,856,871	*,e	Level 3 Communications, Inc		8,141
	46,550		LG Dacom Corp		790
	155,374		LG Telecom Ltd		1,122
	997,939	*,e	Liberty Global, Inc (Class A)		22,523
	361,803	*	Liberty Media Corp - Capital (Series A)		7,569
	2,378,551	*	Liberty Media Corp - Entertainment (Series A)		73,997
	2,848,631	*	Liberty Media Holding Corp (Interactive A)		31,249
	178,622	*	Lin TV Corp (Class A)		845
	106,571	*,e	Lodgenet Entertainment Corp		805
	21,124		LS Cable Ltd		1,847
	52,695		M6-Metropole Television		1,386
	542,454		Magyar Telekom		2,372
	24,221		Manitoba Telecom Services, Inc		754
	205,950		Maroc Telecom		3,712
	275,677	*,e	Mastec, Inc		3,349
	245,379	*	Mediacom Communications Corp (Class A)		1,413
	249,585	e	Mediaset S.p.A.		1,746
	1,376,015	*,e	MetroPCS Communications, Inc		12,880
	271,611		Mobile TeleSystems (ADR)		13,111
	573,000		MobileOne Ltd		720
	32,505		Mobilezone Holding AG.		247
	3,915		Mobistar S.A.		271
	95,910	e	Modern Times Group AB (B Shares)		4,148
	2,057,229		MTN Group Ltd		33,452
	534,333		Naspers Ltd (N Shares)		18,257
	212,053	*	NET Servicos de Comunicacao S.A.		2,467
	398,778	*,e	NeuStar, Inc (Class A)		9,012
	202,086	*,e	Neutral Tandem, Inc		4,599
	660,774	*	NII Holdings, Inc (Class B)		19,810
	1,718,175		Nippon Telegraph & Telephone Corp		79,626
	100		Nippon Television Network Corp		14
	170,514	*,e	Novatel Wireless, Inc		1,937
	23,035		NRJ Group		217
	164,662		NTELOS Holdings Corp		2,908
	19,950		NTT DoCoMo, Inc		31,870
	548,495		Orascom Telecom Holding SAE		3,492
	807,319	*	PAETEC Holding Corp		3,124
	171,801		Partner Communications		3,248
	7,698,844	e	PCCW Ltd		2,007
	71,017		Philippine Long Distance Telephone Co		3,612

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,615		Philippine Long Distance Telephone Co (ADR)	$	1,368
	988,000		Phoenix Satellite Television Holdings Ltd		221
	680,651		Portugal Telecom SGPS S.A.		7,206
	14,088		Preformed Line Products Co		564
	392,426	*	Premiere AG.		2,085
	162,211		ProSiebenSat.1 Media AG.		1,745
	1,673,858		PT Indosat Tbk		944
	173,175	e	PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		1,174
	14,619,104		PT Telekomunikasi Indonesia Tbk (Series B)		13,084
	176,404	*	QSC AG.		470
	7,805,161	e	Qwest Communications International, Inc		29,738
	213,192	*,e	RCN Corp		1,983
	3,944		Reply S.p.A		89
	680,073	e	Rogers Communications, Inc (Class B)		19,202
	22,800	e	Rostelecom (ADR)		669
	3,940,375		Royal KPN NV		65,359
	153,189		Salmat Ltd		541
	184,906	*	SAVVIS, Inc		2,925
	1,433,360	*,e	SBA Communications Corp (Class A)		38,744
	1,001,792		Scripps Networks Interactive (Class A)		37,016
	246,748		SES Global S.A.		5,597
	169,406	e	Seven Network Ltd		939
	5,306	*	Seven Network Ltd TELYS3		453
	484,476	e	Shaw Communications, Inc (B Shares)		8,770
	116,828	e	Shenandoah Telecom Co		2,097
	267,361	e	Sinclair Broadcast Group, Inc (Class A)		957
	12,778,737		Singapore Telecommunications Ltd		29,483
	45,884		SK Telecom Co Ltd		7,107
	30,000		SK Telecom Co Ltd (ADR)		524
	370,931		Sky Network Television Ltd		1,270
	2,680	e	Sky Perfect Jsat Corp		1,232
	230,000		SmarTone Telecommunications Holding Ltd		177
	15,884	e	Societe Television Francaise 1		279
	1,438,080	*,e	SONAECOM - SGPS S.A.		4,291
	18,611,341	*	Sprint Nextel Corp		73,515
	2,394,000		StarHub Ltd		3,688
	61,045	*,e	SureWest Communications		758
	62,530		Swisscom AG.		22,371
	103,911	*,e	Switch & Data Facilities Co, Inc		1,414
	432,130	*	Syniverse Holdings, Inc		7,562
	5,629,264		Taiwan Mobile Co Ltd		10,419
	128,845		Tele Norte Leste Participacoes S.A.		2,909
	309,856		Tele Norte Leste Participacoes S.A. (Preference)		5,859
	707,604	e	Tele2 AB (B Shares)		9,389
	4,075,145		Telecom Corp of New Zealand Ltd		7,829
	608,021		Telecom Egypt		1,963

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	1,151,029	*	Telecom Italia Media S.p.A.	$	216
	13,326,039		Telecom Italia RSP		16,381
	4,135,573	e	Telecom Italia S.p.A.		7,256
	52,057		Telecom Plus PLC		264
	215,405	*	TeleCommunication Systems, Inc (Class A)		1,801
	131,815		Telefonica O2 Czech Republic A.S.		3,263
	5,520,036		Telefonica S.A.		152,305
	8,608,198	e	Telefonos de Mexico S.A. de C.V. (Series L)		7,539
	13,600		Telegate AG.		173
	1,436,499		Telekom Austria AG.		25,898
	1,179,400		Telekom Malaysia BHD		1,046
	774,580		Telekomunikacja Polska S.A.		4,264
	60,856		Telemar Norte Leste S.A.		1,999
	340,743		Telenet Group Holding NV		8,995
	727,720		Telenor ASA		8,429
	490,661		Telephone & Data Systems, Inc		15,215
	186,372		Telesp Celular Participacoes S.A.		4,702
	216,514		Television Broadcasts Ltd		933
	456,254		TeliaSonera AB		2,997
	315,417		Telkom S.A. Ltd		1,815
	6,339,846	e	Telmex Internacional SAB de CV		4,458
	4,871,898		Telstra Corp Ltd		14,054
	220,194		TELUS Corp		7,104
	388,568		TELUS Corp, non-voting shares		12,089
	446,944	e	Ten Network Holdings Ltd		572
	294,915	*,e	Terremark Worldwide, Inc		1,834
	5,112		Thrane & Thrane AS		140
	716,515		Tim Participacoes S.A.		1,784
	1,811,817		Time Warner Cable, Inc		78,071
	67,051	*,e	Tiscali S.p.A.		359
	516,642	*,e	TiVo, Inc		5,352
	27,700		Tokyo Broadcasting System, Inc		471
	1,170,400		Total Access Communication PCL		1,497
	335,900		Total Access Communication PCL		430
	11,339,600	*	True Corp PCL		1,120
	611,027		Turk Telekomunikasyon AS		1,836
	1,046,365		Turkcell Iletisim Hizmet AS		7,474
	558		TV Asahi Corp		945
	4,100		TV Tokyo Corp		118
	162,484		TVN S.A.		801
	200		Uralsvyazinform (ADR)		1
	165,305	*	US Cellular Corp		6,458
	176,170	e	USA Mobility, Inc		2,269
	142,766	*	Usen Corp		146
	100,102		UTV Media plc		159
	16,020,674		Verizon Communications, Inc		484,945

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,834	*	VERSATEL AG.	$	224
	3,051,286	*	Viacom, Inc (Class B)		85,558
	374,050		Vimpel-Communications (ADR)		6,995
	229,477	*	Virgin Mobile USA, Inc (Class A)		1,147
	2,121,355		Vivendi Universal S.A.		65,640
	432,890	*	Vodacom Group Pty Ltd		3,236
	92,744,287		Vodafone Group plc		207,803
	690,216		Vodafone Group plc (ADR)		15,530
	200		VolgaTelecom (ADR)		1
	2,063,866		Windstream Corp		20,907
	226,127		ZEE Telefilms Ltd		1,122
			TOTAL COMMUNICATIONS		4,482,053
DEPOSITORY INSTITUTIONS - 9.67%
	98,361		1st Source Corp		1,603
	660,935	e	77 Bank Ltd		3,770
	126,717	e	Abington Bancorp, Inc		981
	498,541		ABSA Group Ltd		7,964
	921,142		African Bank Investments Ltd		3,617
	335,871		Agricultural Bank of Greece		762
	11,000	e	Aichi Bank Ltd		989
	985,963		Akbank TAS		5,714
	197,000		Akita Bank Ltd		799
	21,774	e	Alliance Financial Corp		589
	1,030,400		Alliance Financial Group BHD		756
	1,192,151		Allied Irish Banks plc		5,595
	82,831		Alpha Bank S.A.		1,527
	15,129		Amagerbanken AS		172
	29,654	e	American National Bankshares, Inc		647
	88,509	e	Ameris Bancorp		633
	36,698	e	Ames National Corp		885
	4,767,467		AMMB Holdings Berhad		5,868
	541,290	*,m	Anglo Irish Bank Corp plc		172
	170,000	e	Aomori Bank Ltd		680
	834,000		Aozora Bank Ltd		1,208
	56,116	e	Arrow Financial Corp		1,531
	387,728	e	Associated Banc-Corp		4,428
	511,100	e	Astoria Financial Corp		5,643
	525,153	*	Asya Katilim Bankasi AS		1,097
	33,336		Attijariwafa Bank		1,159
	11,428	e	Auburn National Bancorporation, Inc		279
	4,082,087	*	Australia & New Zealand Banking Group Ltd		87,834
	214,000	e	Awa Bank Ltd		1,230
	1,301,470	e	Banca Carige S.p.A.		3,885
	41,649		Banca Generali SpA		518
	20,373		Banca IFIS S.p.A.		239

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,642,077	*	Banca Intesa S.p.A.	$	38,224
	372,193		Banca Intesa S.p.A. RSP		1,322
	1,158,058	e	Banca Monte dei Paschi di Siena S.p.A.		2,478
	94,801	e	Banca Popolare dell’Etruria e del Lazio		653
	396,836		Banca Popolare di Milano		3,020
	68,567	e	Banca Profilo S.p.A.		111
	40,532	e	Bancfirst Corp		1,497
	968,811		Banche Popolari Unite Scpa		14,872
	4,596,671	e	Banco Bilbao Vizcaya Argentaria S.A.		81,593
	2,356		Banco BPI S.A.		8
	2,155,850		Banco Bradesco S.A.		42,896
	389,651		Banco Comercial Portugues S.A.		576
	34,794		BANCO DE CREDITO E INVERSIONES		1,012
	2,148,100		Banco de Oro Universal Bank		1,564
	160,098	e	Banco de Sabadell S.A.		1,184
	32,618	e	Banco de Valencia S.A.		306
	71,233		Banco di Desio e della Brianza S.p.A.		475
	551,400		Banco do Brasil S.A.		9,720
	508,623		Banco do Estado do Rio Grande do Sul		3,129
	187,853		Banco Espirito Santo S.A.		1,333
	2,740,475		Banco Itau Holding Financeira S.A.		55,224
	153,002		Banco Latinoamericano de Exportaciones S.A. (Class E)		2,176
	34,500		Banco Nossa Caixa S.A.		1,216
	226,320	e	Banco Pastor S.A.		1,855
	598,518		Banco Popolare Scarl		5,741
	945,896	e	Banco Popular Espanol S.A.		9,482
	22,934,700		Banco Santander Central Hispano S.A.		369,176
	55,094,991		Banco Santander Chile S.A.		3,067
	265,473		BanColombia S.A.		2,823
	79,591		BanColombia S.A. (ADR)		3,417
	265,878		BanColombia S.A. (Preference)		2,855
	12,724	e	Bancorp Rhode Island, Inc		318
	252,700	e	Bancorpsouth, Inc		6,168
	90,500		Bangkok Bank PCL		328
	305,700		Bangkok Bank PCL (ADR)		1,107
	1,721,100		Bangkok Bank PCL (Foreign Reg)		6,336
	250,394	e	Banif SGPS S.A.		502
	36,567		Bank Handlowy w Warszawie S.A.		808
	1,243,201	*	Bank Hapoalim Ltd		4,423
	1,413,707		Bank Leumi Le-Israel		5,424
	345,208		Bank Millennium S.A.		547
	267,064		Bank Mutual Corp		2,361
	49,515,935		Bank of America Corp		837,810
	70,687		Bank of Attica		229
	2,385,600		Bank of Ayudhya PCL		1,371
	82,117,000		Bank of China Ltd		43,230

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,457,022	e	Bank of Communications Co Ltd	$	10,301
	1,383,769		Bank of East Asia Ltd		4,999
	230,632	e	Bank of Hawaii Corp		9,580
	18,000	e,m	Bank of Ikeda Ltd		860
	2,608,514		Bank of Ireland		13,055
	18,500		Bank of Iwate Ltd		1,000
	14,934		Bank of Kentucky Financial Corp		316
	626,152	e	Bank of Kyoto Ltd		5,755
	27,697		Bank of Marin Bancorp		868
	995,329	e	Bank of Montreal		50,359
	164,000		Bank of Nagoya Ltd		709
	4,709,361		Bank of New York Mellon Corp		136,524
	1,771,218	e	Bank of NOVA Scotia		80,848
	66,700		Bank of Okinawa Ltd		2,370
	234,525	e	Bank of Queensland Ltd		2,468
	148,000		Bank of Saga Ltd		460
	76,316	e	Bank of the Ozarks, Inc		2,025
	2,368,780		Bank of the Philippine Islands		2,250
	228,700		Bank of the Ryukyus Ltd		2,815
	3,061,210		Bank of Yokohama Ltd		15,005
	7,509,500		Bank Rakyat Indonesia		5,827
	35,847		Bank Sarasin & Compagnie AG.		1,491
	25,475		Bank Zachodni WBK S.A.		1,331
	115,703	e	BankFinancial Corp		1,108
	320,410	e	Bankinter S.A.		4,044
	131,956	e	Banner Corp		360
	5,136		Banque Cantonale Vaudoise		2,116
	60,494		Banque Marocaine du Commerce Exterieur		1,856
	15,856	e	Bar Harbor Bankshares		539
	19,847,597		Barclays plc		117,362
	6,307		Basler Kantonalbank		718
	2,937,206	e	BB&T Corp		80,009
	509,144	e	Bendigo Bank Ltd		4,222
	177,978	*,e	Beneficial Mutual Bancorp, Inc		1,625
	76,490	e	Berkshire Hills Bancorp, Inc		1,678
	85,677		BinckBank NV		1,517
	1,994,539	e	BNP Paribas		159,361
	6,217,696	e	BOC Hong Kong Holdings Ltd		13,639
	63,165	e	BOK Financial Corp		2,926
	397,628	e	Boston Private Financial Holdings, Inc		2,589
	12,125	*	BRE Bank S.A.		1,014
	30,819	e	Bridge Bancorp, Inc		750
	315,975	e	Brookline Bancorp, Inc		3,071
	4,394	e	Brooklyn Federal Bancorp, Inc		54
	40,687	e	Bryn Mawr Bank Corp		711
	2,567,748		Bumiputra-Commerce Holdings BHD		8,235

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	94,662		Caja de Ahorros del Mediterraneo	$	795
	47,757	e	Camden National Corp		1,578
	518,617	e	Canadian Imperial Bank of Commerce/Canada		31,626
	72,576		Canadian Western Bank		1,346
	67,775	e	Capital City Bank Group, Inc		962
	68,338		Capitol Federal Financial		2,250
	153,354		Cardinal Financial Corp		1,262
	2,420	e	Cascade Bancorp		3
	41,659	e	Cass Information Systems, Inc		1,244
	8,231,316		Cathay Financial Holding Co Ltd		13,673
	272,814	e	Cathay General Bancorp		2,207
	52,888		Center Bancorp, Inc		398
	64,264		Centerstate Banks of Florida, Inc		507
	182,816	e	Central Pacific Financial Corp		461
	13,640	e	Century Bancorp, Inc		296
	5,761,000		Chang Hwa Commercial Bank		2,643
	118,475	e	Chemical Financial Corp		2,582
	4,259		Cheviot Financial Corp		36
	1,554,885		Chiba Bank Ltd		9,631
	38,000	*	Chiba Kogyo Bank Ltd		309
	31,665	*,e	Chicopee Bancorp, Inc		418
	9,552,000		China Citic Bank		6,298
	67,403,545	e	China Construction Bank		53,836
	11,202,374		China Development Financial Holding Corp		2,979
	5,148,850	e	China Merchants Bank Co Ltd		11,480
	11,576,434		Chinatrust Financial Holding Co		7,508
	116,000		Chong Hing Bank Ltd		224
	59,000	e	Chugoku Bank Ltd		747
	134,000		Chukyo Bank Ltd		421
	88,699,045		Citigroup, Inc		429,303
	50,003	e	Citizens & Northern Corp		740
	19,631	e	Citizens Holding Co		519
	623,419	*,e	Citizens Republic Bancorp, Inc		474
	89,753	e	City Holding Co		2,676
	133,166	e	City National Corp		5,184
	46,275	e	Clifton Savings Bancorp, Inc		453
	43,120	e	CNB Financial Corp		740
	139,810		CoBiz, Inc		696
	133,695	e	Columbia Banking System, Inc		2,213
	41,073		Comdirect Bank AG.		400
	518,041	e	Comerica, Inc		15,370
	181,979		Commerce Bancshares, Inc		6,777
	380,067		Commercial International Bank		3,964
	111,716	e	Commerzbank AG.		1,417
	1,853,100	e	Commonwealth Bank of Australia		84,601
	189,016	e	Community Bank System, Inc		3,453

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	85,972	e	Community Trust Bancorp, Inc	$	2,250
	9,761		Credicorp Ltd		753
	89,400		Credicorp Ltd		6,951
	283,781	e	Credit Agricole S.A.		5,930
	91,906		Credito Emiliano S.p.A.		584
	254,549	e	Cullen/Frost Bankers, Inc		13,145
	462,078	e	CVB Financial Corp		3,507
	184,110		Daegu Bank		2,641
	534,400		Dah Sing Banking Group Ltd		689
	196,800		Dah Sing Financial Holdings Ltd		1,133
	462,000		Daishi Bank Ltd		1,868
	114,098		Danske Bank AS		2,989
	6,087,248		DBS Group Holdings Ltd		57,387
	251,080	e	Deutsche Bank AG.		19,269
	36,904	*,e	Deutsche Postbank AG.		1,305
	116,196	e	Dexia		1,071
	148,460	e	Dime Community Bancshares		1,697
	751,741	e	DNB NOR Holding ASA		8,707
	128,306	*,e	Dollar Financial Corp		2,055
	300,000	*	Dummy Set-up for ticker DUMMY US		0	^
	8,563,020		E.Sun Financial Holding Co Ltd		3,569
	48,680	*,e	Eagle Bancorp, Inc		466
	516,780	e	East West Bancorp, Inc		4,289
	86,464		EFG Eurobank Ergasias S.A.		1,360
	61,729	e	EFG International		1,111
	162,000	e	Ehime Bank Ltd		451
	204,000		Eighteenth Bank Ltd		609
	23,632		Enterprise Bancorp, Inc		302
	59,180	e	Enterprise Financial Services Corp		547
	346,700		EON Capital BHD		540
	28,139	e	Erste Bank der Oesterreichischen Sparkassen AG.		1,258
	44,315	e	ESB Financial Corp		593
	98,646	e	ESSA Bancorp, Inc		1,303
	240,041	*,e	Euronet Worldwide, Inc		5,768
	38,913	e	Farmers Capital Bank Corp		696
	3,828,843		Fifth Third Bancorp		38,786
	55,169	e	Financial Institutions, Inc		550
	4,960	e,m	Fionia Bank AS		31
	84,749	e	First Bancorp		1,530
	505,045	e	First Bancorp (Puerto Rico)		1,540
	53,780	e	First Bancorp, Inc		1,000
	157,306	e	First Busey Corp		739
	9,184	*,e	First California Financial Group, Inc		44
	22,676	e	First Citizens Bancshares, Inc (Class A)		3,608
	490,525	e	First Commonwealth Financial Corp		2,786
	56,041	e	First Community Bancshares, Inc		707

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY		VALUE (000)
	55,600	e	First Defiance Financial Corp	$	829
	258,535		First Financial Bancorp		3,115
	109,822	e	First Financial Bankshares, Inc		5,432
	63,542	e	First Financial Corp		1,947
	90,787	e	First Financial Holdings, Inc		1,450
	107,295	e	First Financial Northwest, Inc		624
	18,568	e	First Financial Service Corp		250
	1,046,267	*,e	First Horizon National Corp		13,842
	133,079	e	First Merchants Corp		928
	283,678	e	First Midwest Bancorp, Inc		3,197
	569,189		First Niagara Financial Group, Inc		7,018
	28,525	e	First of Long Island Corp		758
	47,048	e	First South Bancorp, Inc		541
	469,107	e	FirstMerit Corp		8,927
	3,989,776	e	FirstRand Ltd		8,769
	309,455	*,e	Flagstar Bancorp, Inc		319
	147,768		Flushing Financial Corp		1,685
	637,388	e	FNB Corp		4,532
	11,263,680	*	Fortis		52,761
	27,421	*,e	Fox Chase Bancorp, Inc		275
	4,920	e	Frontier Financial Corp		5
	2,014,000		Fubon Bank Hong Kong Ltd		873
	8,137,818		Fubon Financial Holding Co Ltd		9,189
	10,899,587		Fuhwa Financial Holdings Co Ltd		8,069
	389,000		Fukui Bank Ltd		1,270
	2,753,542		Fukuoka Financial Group, Inc		11,442
	207,000		Fukushima Bank Ltd		125
	542,557	e	Fulton Financial Corp		3,993
	170,770	*	Geniki Bank		217
	54,453	e	German American Bancorp, Inc		845
	346,048	e	Glacier Bancorp, Inc		5,170
	58,912	e	Great Southern Bancorp, Inc		1,397
	208,301		Greek Postal Savings Bank		1,463
	1,712,303		Grupo Financiero Banorte S.A. de C.V.		5,733
	783,402	e	Grupo Financiero Inbursa S.A.		2,221
	384,829	*,e	Guaranty Bancorp		570
	540,311		Gunma Bank Ltd		2,973
	133,120		Hachijuni Bank Ltd		741
	128,210	e	Hampton Roads Bankshares, Inc		369
	135,013	e	Hancock Holding Co		5,072
	1,232,202		Hang Seng Bank Ltd		17,759
	3,080	*,e	Hanmi Financial Corp		5
	237,495	e	Harleysville National Corp		1,266
	331,994		HDFC Bank Ltd		11,391
	89,048	e	Heartland Financial USA, Inc		1,313
	20,353	*,e	Heritage Financial Corp		268

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,967	e	Heritage Financial Group	$	25
	143,000		Higashi-Nippon Bank Ltd		299
	345,000		Higo Bank Ltd		2,037
	143,300	e	Hiroshima Bank Ltd		592
	370,000	e	Hokkoku Bank Ltd		1,546
	350,000	e	Hokuetsu Bank Ltd		671
	2,506,320		Hokuhoku Financial Group, Inc		5,863
	41,322	*,e	Home Bancorp, Inc		503
	80,225	e	Home Bancshares, Inc		1,759
	46,769		Home Capital Group, Inc		1,671
	81,466	e	Home Federal Bancorp, Inc		930
	1,044,600		Hong Leong Bank BHD		1,983
	378,500		Hong Leong Credit BHD		588
	17,391		HQ AB		344
	29,208,756		HSBC Holdings plc		334,229
	92,000		HSBC Holdings plc (Hong Kong)		1,067
	4,073,339		Hua Nan Financial Holdings Co Ltd		2,559
	3,143,575		Hudson City Bancorp, Inc		41,338
	14,683,321		Huntington Bancshares, Inc		69,158
	251,000		Hyakugo Bank Ltd		1,292
	249,000	e	Hyakujushi Bank Ltd		1,126
	116,874	e	IBERIABANK Corp		5,325
	982,370		ICICI Bank Ltd		18,534
	63,526		ICICI Bank Ltd (ADR)		2,450
	120,566	e	Independent Bank Corp		2,669
	1,790	e	Independent Bank Corp		3
	65,296,000		Industrial & Commercial Bank of China		49,203
	242,820	*	Industrial Bank Of Korea		2,978
	200	*,b	IndyMac Bancorp, Inc		0	^
	3,775		ING Bank Slaski S.A.		842
	7,599,047	*	ING Groep NV		135,665
	292,477	e	International Bancshares Corp		4,770
	381,792		Investec Ltd		2,904
	1,354,776		Investec plc		9,916
	241,296	*,e	Investors Bancorp, Inc		2,560
	1,161,074		Israel Discount Bank Ltd		2,192
	91,000	e	Iyo Bank Ltd		821
	755,355	e	Joyo Bank Ltd		3,711
	23,694,063		JPMorgan Chase & Co		1,038,275
	1,371,970		Julius Baer Holding AG.		68,512
	582,000		Juroku Bank Ltd		1,990
	78,363	*	Jyske Bank		3,266
	73,000		Kagawa Bank Ltd		289
	264,000		Kagoshima Bank Ltd		2,100
	203,000	e	Kansai Urban Banking Corp		283
	57,500	e	Kanto Tsukuba Bank Ltd		197

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,587		KAS Bank NV	$	236
	2,391,700		Kasikornbank PCL		6,300
	91,733	e	Kearny Financial Corp		956
	466,000	e	Keiyo Bank Ltd		2,383
	4,834	e	Kentucky First Federal Bancorp		60
	2,662,094		Keycorp		17,304
	6,168	e	K-Fed Bancorp		56
	712,000	e	Kiyo Holdings, Inc		904
	21,736		Komercni Banka A.S.		4,335
	318,490		Korea Exchange Bank		3,744
	153,465		Kotak Mahindra Bank Ltd		2,487
	5,185,300		Krung Thai Bank PCL		1,405
	124,005	e	Lakeland Bancorp, Inc		930
	76,846	e	Lakeland Financial Corp		1,587
	36,259	e	Laurentian Bank of Canada		1,299
	34,166	e	Legacy Bancorp, Inc		359
	21,418		Liechtenstein Landesbank		1,440
	3,346,088		Lloyds TSB Group plc		5,545
	258,215	e	M&T Bank Corp		16,092
	118,231	e	MainSource Financial Group, Inc		804
	4,200,350		Malayan Banking BHD		8,071
	1,542,714		Marshall & Ilsley Corp		12,450
	233,586	e	MB Financial, Inc		4,898
	1,487,567	e	Mediobanca S.p.A.		20,332
	9,767,360		Mega Financial Holding Co Ltd		6,183
	23,571	e	Merchants Bancshares, Inc		503
	56,818	*,e	Meridian Interstate Bancorp, Inc		483
	350,538	*	Metavante Technologies, Inc		12,087
	1,135,200		Metropolitan Bank & Trust		922
	136,000		Michinoku Bank Ltd		311
	22,378	e	Midsouth Bancorp, Inc		295
	107,000	e	Mie Bank Ltd		353
	337,000		Minato Bank Ltd		469
	17,131,291		Mitsubishi UFJ Financial Group, Inc		91,988
	6,582,214		Mitsui Trust Holdings, Inc		24,418
	216,000	e	Miyazaki Bank Ltd		900
	143,066		Mizrahi Tefahot Bank Ltd		1,218
	12,016,100		Mizuho Financial Group, Inc		23,827
	851,784	e	Mizuho Trust & Banking Co Ltd		901
	47,300		Musashino Bank Ltd		1,431
	425,000	e	Nanto Bank Ltd		2,315
	134,601	e	Nara Bancorp, Inc		935
	20,363	e	NASB Financial, Inc		536
	4,603,726		National Australia Bank Ltd		124,929
	293,198	e	National Bank of Canada		16,305
	2,107,310		National Bank of Greece S.A.		75,551

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	33,838		National Bankshares, Inc	$	861
	591,550	e	National Penn Bancshares, Inc		3,614
	142,469		Natixis		859
	201,325	e	NBT Bancorp, Inc		4,538
	261,908		Nedbank Group Ltd		4,166
	231,343	*	Net 1 UEPS Technologies, Inc		4,849
	1,170,758	e	New York Community Bancorp, Inc		13,370
	601,016	e	NewAlliance Bancshares, Inc		6,431
	1,009,854		Nishi-Nippon City Bank Ltd		2,554
	1,624,960	e	Nordea Bank AB		16,363
	28,954	e	Northeast Community Bancorp, Inc		214
	22,377	*	Northern Rock PLC		0	^
	1,448,133		Northern Trust Corp		84,223
	109,227	e	Northfield Bancorp, Inc		1,398
	30,106	e	Northrim BanCorp, Inc		459
	101,336	e	Northwest Bancorp, Inc		2,315
	8,759	e	Norwood Financial Corp		272
	54,993	e	OceanFirst Financial Corp		638
	260,000	e	Ogaki Kyoritsu Bank Ltd		895
	19,842		Ohio Valley Banc Corp		526
	252,000	e	Oita Bank Ltd		985
	176,328		OKO Bank (Class A)		2,013
	477,186	e	Old National Bancorp		5,344
	3,090	e	Old Point Financial Corp		51
	93,268	e	Old Second Bancorp, Inc		534
	145,562		Oriental Financial Group, Inc		1,849
	66,060	e	Oritani Financial Corp		901
	25,170	e	Orrstown Financial Services, Inc		973
	419,629	*	OTP Bank Rt		11,974
	3,230,730	e	Oversea-Chinese Banking Corp		18,004
	349,127	e	Pacific Capital Bancorp		503
	67,611	e	Pacific Continental Corp		712
	142,501	e	PacWest Bancorp		2,715
	64,663	e	Park National Corp		3,772
	74,890		PayPoint plc		539
	49,412	e	Peapack Gladstone Financial Corp		794
	18,688	e	Penns Woods Bancorp, Inc		598
	30,937	*,e	Pennsylvania Commerce Bancorp, Inc		377
	67,693	e	Peoples Bancorp, Inc		883
	17,774		Peoples Financial Corp		331
	1,371,995	e	People’s United Financial, Inc		21,348
	297,445		Piccolo Credito Valtellinese Scarl		3,066
	185,650	*,e	Pinnacle Financial Partners, Inc		2,360
	46,461		Piraeus Bank S.A.		861
	2,188,975		PNC Financial Services Group, Inc		106,362
	1,574,799	e	Popular, Inc		4,457

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,021		Porter Bancorp, Inc	$	66
	650,233		Powszechna Kasa Oszczednosci Bank Polski S.A.		7,601
	119,438	e	Premierwest Bancorp		324
	182,366	e	PrivateBancorp, Inc		4,461
	259,243	e	Prosperity Bancshares, Inc		9,019
	340,989	e	Provident Financial Services, Inc		3,509
	195,312	e	Provident New York Bancorp		1,865
	6,297		Prudential Bancorp, Inc of Pennsylvania		63
	14,548,500		PT Bank Central Asia Tbk		6,962
	5,174,093		PT Bank Danamon Indonesia Tbk		2,650
	9,843,500		PT Bank Mandiri Persero Tbk		4,787
	38,900		Public Bank BHD		115
	1,169,505		Public Bank BHD		3,453
	261,097		Pusan Bank		2,903
	5,297	e	Qc Holdings, Inc		36
	234,293	e	Raiffeisen International Bank Holding AG.		15,278
	8,091,558	e	Regions Financial Corp		50,249
	122,316	e	Renasant Corp		1,816
	60,317	e	Republic Bancorp, Inc (Class A)		1,204
	35,274	*,e	Republic First Bancorp, Inc		160
	123,600		Resona Holdings, Inc		1,590
	1,036,900		RHB Capital BHD		1,519
	52,348	e	Rockville Financial, Inc		563
	43,330	e	Roma Financial Corp		539
	5,200	m	Roskilde Bank		0	^
	135,601		Royal Bank of Canada		7,264
	2,270,200	e	Royal Bank of Canada (Toronto)		122,029
	19,832,268		Royal Bank of Scotland Group plc		16,782
	64,058	*	Royal Bank of Scotland Group plc (Euro)		54
	133,270	e	S&T Bancorp, Inc		1,727
	58,454	e	S.Y. Bancorp, Inc		1,350
	100,908	e	Sandy Spring Bancorp, Inc		1,643
	285,000		San-In Godo Bank Ltd		2,429
	44,895	*,e	Santander BanCorp		438
	717,800	*	Sapporo Hokuyo Holdings, Inc		2,551
	109,471	e,f	Sberbank (GDR)		24,334
	68,122	e	SCBT Financial Corp		1,914
	2,184		SEVEN BANK Ltd		5,401
	296,000	e	Shiga Bank Ltd		1,856
	187,000	e	Shikoku Bank Ltd		667
	8,200		Shimizu Bank Ltd		336
	7,272,113		Shin Kong Financial Holding Co Ltd		2,895
	190,126	*,e	Shinsei Bank Ltd		292
	1,034,234	e	Shizuoka Bank Ltd		10,922
	182,000	m	Shonai Bank Ltd		302
	51,971	e	Shore Bancshares, Inc		869

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,646,900		Siam Commercial Bank PCL	$	6,734
	41,006	e	Sierra Bancorp		492
	206,677	*,e	Signature Bank		5,994
	87,388	e	Simmons First National Corp (Class A)		2,518
	6,703,947		SinoPac Financial Holdings Co Ltd		2,753
	690,862	e	Skandinaviska Enskilda Banken AB (Class A)		4,658
	73,713		Smithtown Bancorp, Inc		851
	1,628,263		Societe Generale		131,049
	1,074,211	e	South Financial Group, Inc		1,579
	77,819		Southside Bancshares, Inc		1,752
	92,007	e	Southwest Bancorp, Inc		1,292
	93,160	e	Sparebanken Midt-Norge		782
	3,863		St Galler Kantonalbank		1,764
	1,479,813		Standard Bank Group Ltd		19,138
	84,189	e	State Bancorp, Inc		711
	43,848		State Bank of India Ltd		2,001
	39,396	f	State Bank of India Ltd (GDR)		3,581
	3,520,021		State Street Corp		185,153
	130,487	e	StellarOne Corp		1,925
	125,145	e	Sterling Bancorp		904
	465,666	e	Sterling Bancshares, Inc		3,404
	362,445	e	Sterling Financial Corp		725
	49,857	e	Suffolk Bancorp		1,476
	1,348,510	e	Sumitomo Mitsui Financial Group, Inc		47,021
	3,840,018		Sumitomo Trust & Banking Co Ltd		20,405
	102,180	*,e	Sun Bancorp, Inc		540
	2,280,180		Suncorp-Metway Ltd		17,863
	4,388,146		SunTrust Banks, Inc		98,953
	658,124	e	Suruga Bank Ltd		6,225
	504,455	e	Susquehanna Bancshares, Inc		2,971
	182,227	*,e	SVB Financial Group		7,885
	829,471	e	Svenska Handelsbanken (A Shares)		21,179
	81,551	e	Swedbank AB (A Shares)		778
	69,450		Sydbank AS		1,819
	1,149,791	e	Synovus Financial Corp		4,312
	6,324,000		Taishin Financial Holdings Co Ltd		2,754
	2,249,000	*	Taiwan Business Bank		585
	3,946,284	e	TCF Financial Corp		51,460
	12,000	*	Territorial Bancorp, Inc		188
	199,782	*,e	Texas Capital Bancshares, Inc		3,364
	650,293	e	TFS Financial Corp		7,738
	74,627	*	The Bancorp, Inc		427
	16,972,600	*	TMB Bank PCL		605
	98,000		Tochigi Bank Ltd		476
	336,000	e	Toho Bank Ltd		1,493
	81,000	e	Tokushima Bank Ltd		332

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,600	e	Tokyo Tomin Bank Ltd	$	646
	49,944	e	Tompkins Trustco, Inc		2,183
	1,699,026	e	Toronto-Dominion Bank		109,894
	260,000	*	Towa Bank Ltd		171
	17,391		Tower Bancorp, Inc		457
	119,822	e	TowneBank		1,528
	75,795	e	Trico Bancshares		1,243
	559,644	e	Trustco Bank Corp NY		3,498
	338,860	e	Trustmark Corp		6,455
	3,231,474		Turkiye Garanti Bankasi AS		12,194
	428,828		Turkiye Halk Bankasi AS		2,543
	1,868,228		Turkiye Is Bankasi (Series C)		7,302
	1,179,697		Turkiye Vakiflar Bankasi Tao		2,703
	220,000	*	UBS AG.		4,028
	10,620,945	*	UBS AG. (Switzerland)		194,422
	613,209	e	UCBH Holdings, Inc		491
	181,044	e	UMB Financial Corp		7,321
	487,491	e	Umpqua Holdings Corp		5,167
	23,850,087	*,e	UniCredito Italiano S.p.A		93,186
	84,477	e	Union Bankshares Corp		1,052
	216,246	e	United Bankshares, Inc		4,236
	265,515	e	United Community Banks, Inc		1,328
	99,767	e	United Financial Bancorp, Inc		1,155
	1,947,312		United Overseas Bank Ltd		23,197
	30,386	e	United Security Bancshares		674
	82,374	e	Univest Corp of Pennsylvania		1,785
	13,499,142		US Bancorp		295,091
	230,750		UTI Bank Ltd		4,726
	429,917	e	Valley National Bancorp		5,284
	4,703		Verwalt & Privat-Bank AG.		548
	50,761	e	ViewPoint Financial Group		713
	30,480		Vontobel Holding AG.		1,018
	933,672	e,f	VTB Bank OJSC (GDR)		3,455
	45,364		Washington Banking Co		420
	306,348	e	Washington Federal, Inc		5,165
	75,440	e	Washington Trust Bancorp, Inc		1,322
	113,955		Waterland Financial Holdings		36
	54,494	*,e	Waterstone Financial, Inc		276
	389,497		Webster Financial Corp		4,857
	27,954,579		Wells Fargo & Co		787,760
	141,749	e	WesBanco, Inc		2,191
	102,036		West Bancorporation, Inc		506
	151,063	e	Westamerica Bancorporation		7,855
	245,976	*	Western Alliance Bancorp		1,552
	5,490,794		Western Union Co		103,886
	166,584	e	Westfield Financial, Inc		1,411

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,413,527	e	Westpac Banking Corp	$	79,050
	214,625	e	Whitney Holding Corp		2,048
	26,853	e	Wilber Corp		226
	215,986	e	Wilmington Trust Corp		3,067
	116,321	e	Wilshire Bancorp, Inc		854
	160,127		Wing Hang Bank Ltd		1,575
	145,319	e	Wintrust Financial Corp		4,063
	355,340	*	Woori Finance Holdings Co Ltd		4,810
	43,215	e	WSFS Financial Corp		1,151
	20,400		Yachiyo Bank Ltd		619
	81,957	e	Yadkin Valley Financial Corp		383
	156,000		Yamagata Bank Ltd		805
	427,000		Yamaguchi Financial Group, Inc		4,429
	152,000		Yamanashi Chuo Bank Ltd		735
	1,214,779	*	Yapi ve Kredi Bankasi		2,652
	431,518	e	Zions Bancorporation		7,754
			TOTAL DEPOSITORY INSTITUTIONS		9,132,484
EATING AND DRINKING PLACES - 0.83%
	175,213	*	AFC Enterprises		1,475
	1,051,000		Ajisen China Holdings Ltd		936
	13,057	e	Autogrill S.p.A.		158
	60,847	*,e	Benihana, Inc		349
	90,684	*,e	BJ’s Restaurants, Inc		1,359
	174,354		Bob Evans Farms, Inc		5,067
	3,082,608		Brinker International, Inc		48,489
	88,116	*,e	Buffalo Wild Wings, Inc		3,667
	324,325	e	Burger King Holdings, Inc		5,705
	554,000		Cafe de Coral Holdings Ltd		1,214
	101,603	*,e	California Pizza Kitchen, Inc		1,587
	54,053	*	Carrols Restaurant Group, Inc		409
	151,476	e	CBRL Group, Inc		5,211
	116,696	*,e	CEC Entertainment, Inc		3,018
	366,875	*,e	Cheesecake Factory		6,795
	96,736	*,e	Chipotle Mexican Grill, Inc (Class A)		9,388
	330,148		CKE Restaurants, Inc		3,463
	41,500	e	Colowide Co Ltd		279
	17,978,063		Compass Group plc		109,840
	15,000		Daisyo Corp		206
	720,527	e	Darden Restaurants, Inc		24,592
	655,492	*	Denny’s Corp		1,744
	19,591	*,e	Diedrich Coffee, Inc		471
	88,562	e	DineEquity, Inc		2,192
	218,046	*,e	Domino’s Pizza, Inc		1,928
	8,762	*,e	Einstein Noah Restaurant Group, Inc		105
	1,997,072	e	Enterprise Inns plc		3,974

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,700		Formosa International Hotels Corp	$	525
	10,761	e	Frisch’s Restaurants, Inc		278
	344,112		Greene King plc		2,318
	7,483		Ibersol SGPS S.A.		106
	6,400		Ichibanya Co Ltd		155
	449,496	*	Jack in the Box, Inc		9,210
	408,800		Jollibee Foods Corp		427
	34,300		Kappa Create Co Ltd		871
	15,000		Kentucky Fried Chicken Japan Ltd		277
	18,000	e	Kisoji Co Ltd		402
	445,170	*	Krispy Kreme Doughnuts, Inc		1,589
	37,205	*,e	Landry’s Restaurants, Inc		391
	118,812	*,e	Luby’s, Inc		499
	1,038,939		Marston’s plc		1,616
	16,700	*	Matsuya Foods Co Ltd		241
	89,513	*,e	McCormick & Schmick’s Seafood Restaurants, Inc		666
	5,537,748		McDonald’s Corp		316,038
	139,200	e	McDonald’s Holdings Co Japan Ltd		2,784
	318,919	*,e	Mitchells & Butlers plc		1,324
	37,200	e	MOS Food Services, Inc		648
	101,868	e	O’Charleys, Inc		955
	120,187		Onex Corp		2,946
	167,980	*	Papa John’s International, Inc		4,127
	159,879	*,e	PF Chang’s China Bistro, Inc		5,431
	21,400		Plenus Co Ltd		320
	652,031		Punch Taverns plc		1,255
	91,555	*,e	Red Robin Gourmet Burgers, Inc		1,870
	284,677		Restaurant Group plc		878
	14,100	*	Ringer Hut Co Ltd		182
	26,200	e	Royal Holdings Co Ltd		295
	367,201	*,e	Ruby Tuesday, Inc		3,092
	99,193	*,e	Ruth’s Chris Steak House, Inc		419
	30,700		Saizeriya Co Ltd		560
	78,245	e	Sodexho Alliance S.A.		4,688
	306,713	*,e	Sonic Corp		3,392
	7,900	*,e	St Marc Holdings Co Ltd		250
	489	e	Starbucks Coffee Japan Ltd		207
	4,158,002	*	Starbucks Corp		85,862
	142,320	*,e	Steak N Shake Co		1,675
	246,876	*,e	Texas Roadhouse, Inc (Class A)		2,622
	22,300	e	WATAMI Co Ltd		469
	2,848,592		Wendy’s/Arby’s Group, Inc (Class A)		13,474
	129,476	e	Wetherspoon (J.D.) plc		990
	23,620	e	Whitbread plc		459
	696	e	Yoshinoya D&C Co Ltd		839
	1,953,710		Yum! Brands, Inc		65,956

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	82,400	e	Zensho Co Ltd	$	572
			TOTAL EATING AND DRINKING PLACES		787,771
EDUCATIONAL SERVICES - 0.20%
	1,299,039	e,m	ABC Learning Centres Ltd		619
	8,380	*	Academedia AB		115
	122,888	*,e	American Public Education, Inc		4,269
	1,232,787	*	Apollo Group, Inc (Class A)		90,818
	140,617		Benesse Corp		6,893
	68,851	*	Bridgepoint Education, Inc		1,051
	441,864		CAE, Inc		3,735
	263,950	*,e	Career Education Corp		6,435
	133,783	*,e	ChinaCast Education Corp		973
	509,998	*,e	Corinthian Colleges, Inc		9,466
	233,608		DeVry, Inc		12,923
	72,557	*,e	Grand Canyon Education, Inc		1,294
	228,510	*,e	ITT Educational Services, Inc		25,229
	52,511	*,e	K12, Inc		865
	46,609	*,e	Learning Tree International, Inc		531
	43,297	*,e	Lincoln Educational Services Corp		991
	77,434	*,e	Princeton Review, Inc		325
	1,298,000		Raffles Education Corp Ltd		470
	61,747	e	Strayer Education, Inc		13,441
	96,160	*,e	Universal Technical Institute, Inc		1,894
	82,735		UP, Inc		507
	335,000		YBM Sisa.com, Inc		2,403
			TOTAL EDUCATIONAL SERVICES		185,247
ELECTRIC, GAS, AND SANITARY SERVICES - 4.32%
	1,495,542	e	A2A S.p.A.		2,939
	361,651		ACEA S.p.A.		4,734
	17,633		AcegasAps S.p.A.		116
	46,154		Actelios S.p.A.		255
	654,779	*	Adani Power Ltd		1,387
	4,922,992	*	AES Corp		72,959
	3,149,612		AES Gener S.A.		1,364
	186,300		AES Tiete S.A.		2,101
	891,218		AGL Energy Ltd		10,748
	314,357		AGL Resources, Inc		11,087
	37,925		Algonquin Power Income Fund		123
	2,522,534		Allegheny Energy, Inc		66,898
	144,751	e	Allete, Inc		4,859
	400,254		Alliant Energy Corp		11,147
	735,403		Ameren Corp		18,591
	83,770	e	American Ecology Corp		1,566
	2,750,845		American Electric Power Co, Inc		85,249

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	90,679	e	American States Water Co	$	3,281
	469,248	e	American Water Works Co, Inc		9,357
	410,186	e	Aqua America, Inc		7,236
	30,432	e	Artesian Resources Corp		512
	26,900	*,e	Asahi Holdings, Inc		456
	140,489		Ascopiave S.p.A.		337
	56,280		Atco Ltd		2,208
	489,784		Atmos Energy Corp		13,802
	327,669		Avista Corp		6,625
	386	*,e	Beacon Power Corp		0	^
	18,898,500	*	Beijing Enterprises Water Group Ltd		3,828
	106,061	*	BFI Canada Ltd		1,375
	2,099		Bkw Fmb Energie AG		182
	234,029	e	Black Hills Corp		5,891
	23,702		Boralex Power, Income Fund		86
	22,195	*	Boralex, Inc		187
	122,048		California Water Service Group		4,753
	1,415,729	*,e	Calpine Corp		16,309
	153,531	*	Canadian Hydro Developers, Inc		739
	211,349		Canadian Utilities Ltd		7,480
	6,043,859		Centerpoint Energy, Inc		75,125
	278,581		Centrais Eletricas Brasileiras S.A.		4,340
	243,617		Centrais Eletricas Brasileiras S.A. (Preference)		3,424
	71,153	e	Central Vermont Public Service Corp		1,373
	666,210		Centrica plc		2,679
	60,761	*,e	Ceres Power Holdings plc		201
	248,403		CEZ		13,248
	102,739	e	CH Energy Group, Inc		4,552
	45,323		Chemtrade Logistics Income Fund		356
	44,431	e	Chesapeake Utilities Corp		1,377
	184,000		China Resources Gas Group Ltd		151
	4,286,289		China Resources Power Holdings Co		9,966
	4,223,848		China Water Affairs Group Ltd		1,275
	633,320		Chubu Electric Power Co, Inc		15,381
	356,182	e	Chugoku Electric Power Co, Inc		7,833
	39,000		CIA DE TRANSMISSAO DE ENERGIA ELETRICA PAULISTA		1,095
	422,887		CIR-Compagnie Industriali Riunite S.p.A.		951
	175,389	*,e	Clean Energy Fuels Corp		2,527
	104,671	*	Clean Harbors, Inc		5,889
	313,011	e	Cleco Corp		7,850
	391,034	e	CLP Holdings Ltd		2,654
	1,344,269	e	CMS Energy Corp		18,013
	533,587		Cofide S.p.A.		456
	8,771,407		Colbun S.A.		2,121
	145,395		Companhia de Saneamento Basico do Estado de Sao Paulo		2,799

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	422,229		Companhia Energetica de Minas Gerais	$	6,435
	212,588		Companhia Energetica de Sao Paulo (Class B)		2,616
	127,002		Companhia Paranaense de Energia		2,247
	49,221	e	Connecticut Water Service, Inc		1,102
	972,597	e	Consolidated Edison, Inc		39,818
	76,424	e	Consolidated Water Co, Inc		1,248
	1,939,785		Constellation Energy Group, Inc		62,791
	2,372,229		Contact Energy Ltd		9,868
	493,478	*,e	Covanta Holding Corp		8,389
	123,370		CPFL Energia S.A.		2,224
	208,890	e	Crosstex Energy, Inc		1,103
	4,115,000	e	Datang International Power Generation Co Ltd		2,150
	992,955	*	Dogan Sirketler Grubu Holdings		749
	2,097,618		Dominion Resources, Inc		72,368
	356,865	e	DPL, Inc		9,314
	1,416,290	e	Drax Group plc		10,672
	855,968		DTE Energy Co		30,079
	2,845,256		DUET Group		4,255
	6,073,273		Duke Energy Corp		95,593
	2,619,209	*	Dynegy, Inc (Class A)		6,679
	4,659,420		E.ON AG.		197,596
	1,633,083		Edison International		54,839
	203,792		EDP - Energias do Brasil S.A.		3,359
	180,613	*,e	EDP Renovaveis S.A.		1,986
	2,503,952		El Paso Corp		25,841
	249,617	*	El Paso Electric Co		4,411
	109,285	e	Electric Power Development Co		3,464
	193,909	e	Electricite de France		11,503
	211,102		Eletropaulo Metropolitana de Sao Paulo S.A.		4,320
	43,831		ElSwedy Cables Holding Co		627
	169,357	e	Empire District Electric Co		3,064
	4,664,157		Empresa Nacional de Electricidad S.A.		7,270
	39,880		Enagas		833
	547,499	e	Enbridge, Inc		21,258
	6,847,569		Enel S.p.A.		43,463
	636,649		Energen Corp		27,440
	8,687,821		Energias de Portugal S.A.		39,793
	1,114,409		Energy Developments Ltd		2,428
	89,525		Energy Savings Income Fund		1,164
	751,023	*,e	Energy World Corp Ltd		278
	556,219		EnergySolutions, Inc		5,128
	74,773	*,e	EnerNOC, Inc		2,479
	22,064,382		Enersis S.A.		8,027
	27,384	*	EnerTAD S.p.A.		34
	127,228		Enia S.p.A.		998
	274,925		Enka Insaat ve Sanayi AS		1,167

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,005,489		Entergy Corp	$	80,298
	1,570,820		Envestra Ltd		797
	5,221,178		Exelon Corp		259,075
	130,833		Fersa Energias Renovables S.A.		440
	1,815,701		FirstEnergy Corp		83,014
	31,364	e	Florida Public Utilities Co		381
	264,396	e	Fortis, Inc		6,169
	5,403,820		Fortum Oyj		138,542
	1,871,273		FPL Group, Inc		103,350
	683,223		Gas Natural SDG S.A.		15,097
	12,335		Gas Plus		126
	2,092,692		Gaz de France		92,927
	201,711	*	Geodynamics Ltd		165
	813,700		Glow Energy PCL		798
	935,600		Glow Energy PCL		917
	52,616		Great Lakes Hydro Income Fund		867
	418,492	e	Great Plains Energy, Inc		7,512
	46,316	*	Greentech Energy Systems		239
	5,168,000		Guangdong Investments Ltd		2,547
	19,450		Hafslund ASA (B shares)		237
	388,903		Hastie Group Ltd		765
	604,902		Hastings Diversified Utilities Fund		518
	287,487	e	Hawaiian Electric Industries, Inc		5,209
	717,046		Hera S.p.A.		1,745
	3,513	*	Heritage-Crystal Clean, Inc		45
	258,870		Hokkaido Electric Power Co, Inc		5,387
	341,000	e	Hokuriku Electric Power Co		8,680
	2,314,391	e	Hong Kong & China Gas Ltd		5,847
	2,853,703	e	Hong Kong Electric Holdings Ltd		15,649
	3,790,000		Huaneng Power International, Inc		2,509
	116,011	e	Hunting PLC		999
	114,535	e	Iberdrola Renovables		563
	5,808,183		Iberdrola S.A.		56,988
	241,286		Idacorp, Inc		6,947
	14,375		Innergex Power Income Fund		134
	235,240	e	Integrys Energy Group, Inc		8,443
	473,609		Interconexion Electrica S.A.		3,012
	700	e,m	Interconexion Electrica S.A.(ADR)		92
	6,013,148	e	International Power plc		27,773
	540,918	e	Iride S.p.A.		1,059
	151,585	e	ITC Holdings Corp		6,890
	346,000		Iwatani International Corp		1,064
	95	e	Japan Wind Development Co Ltd		409
	2,045,212		Kansai Electric Power Co, Inc		49,441
	57,820		Keyera Facilities Income Fund		1,066
	577,612	*	KOC Holding AS		1,518

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	377,697	*	Korea Electric Power Corp	$	11,476
	76,703		Korea Gas Corp		3,470
	562,373		Kyushu Electric Power Co, Inc		12,749
	143,606		Laclede Group, Inc		4,618
	39,857	e	Lassila & Tikanoja Oyj		957
	23,300		Macquarie Power & Infrastructure Income Fund		126
	591,430		Manila Electric Co		2,122
	701,921		MDU Resources Group, Inc		14,635
	117,778		MGE Energy, Inc		4,297
	77,422	e	Middlesex Water Co		1,168
	1,213,435	*,e	Mirant Corp		19,937
	2,817,774		MMC Corp BHD		2,019
	230,372		National Fuel Gas Co		10,553
	2,931,447		National Grid plc		28,297
	286,266	e	New Jersey Resources Corp		10,394
	85,056		Newalta, Inc		608
	272,103	e	Nicor, Inc		9,956
	1,028,489		NiSource, Inc		14,286
	13,673	*,e	NIVS IntelliMedia Technology Group, Inc		37
	1,401,074		Northeast Utilities		33,261
	41,959		Northland Power Income Fund		411
	793,145	e	Northumbrian Water Group plc		3,126
	148,433	e	Northwest Natural Gas Co		6,184
	214,246	e	NorthWestern Corp		5,234
	3,024,364	*,e	NRG Energy, Inc		85,257
	329,614	e	NSTAR		10,488
	1,161,871		NTPC Ltd		5,163
	2,950,329		NV Energy, Inc		34,194
	169,120	e	Oest Elektrizitatswirts AG. (Class A)		8,550
	394,106		OGE Energy Corp		13,037
	20,000		Okinawa Electric Power Co, Inc		1,194
	324,289		Oneok, Inc		11,875
	72,078		Ormat Industries		605
	58,182	e	Ormat Technologies, Inc		2,375
	5,746,938		Osaka Gas Co Ltd		20,167
	202,655	e	Otter Tail Corp		4,850
	448,000	*	PAN ELECTRIC		0	^
	20,872	e	Pennichuck Corp		454
	445,604		Pennon Group plc		3,387
	676,511		Pepco Holdings, Inc		10,066
	260,269	*,e	Perma-Fix Environmental Services		609
	619,900		Petronas Gas BHD		1,743
	2,577,388		PG&E Corp		104,358
	110,273	*,e	Pico Holdings, Inc		3,678
	422,451		Piedmont Natural Gas Co, Inc		10,113

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	75,849	*,e	Pike Electric Corp	$	909
	311,635		Pinnacle West Capital Corp		10,228
	500,779	e	PNM Resources, Inc		5,849
	8,695,000		PNOC Energy Development Corp		863
	1,526,252		Polish Oil & Gas Co		1,914
	420,268	e	Portland General Electric Co		8,288
	10,053	*	Poweo		305
	554,395		Power Grid Corp of India Ltd		1,267
	1,297,296	e	PPL Corp		39,360
	1,043,668		Progress Energy, Inc		40,766
	495,639	*	Progress Energy, Inc (CVO)		114
	15,137,000		PT Perusahaan Gas Negara		5,717
	88,879		Public Power Corp		1,978
	3,764,685		Public Service Enterprise Group, Inc		118,362
	1,068,402		Questar Corp		40,129
	650,500		Ratchaburi Electricity Generating Holding PCL		730
	23,270		Red Electrica de Espana		1,191
	140,608		Reliance Energy Ltd		3,570
	839,137	*	Reliance Natural Resources Ltd		1,536
	4,003,076	*,e	Reliant Energy, Inc		28,582
	4,900,943	e	Republic Services, Inc		130,218
	95,531	e	Resource America, Inc (Class A)		460
	979,060	*	RusHydro (ADR)		3,358
	491,595		RWE A.G.		45,659
	5,288		RWE A.G. (Preference)		435
	448,000	e	Saibu Gas Co Ltd		1,273
	731,514		SCANA Corp		25,530
	120,010	e	Scottish & Southern Energy plc		2,250
	3,692	e	Seche Environnement S.A.		340
	17,840		Sechilienne-Sidec		760
	1,482,953		Sempra Energy		73,866
	60,686		Severn Trent plc		941
	424,077	e	Shanks Group PLC		672
	209,625	e	Shikoku Electric Power Co, Inc		6,399
	72,500		Shizuoka Gas Co Ltd		561
	62,300	e	SJW Corp		1,424
	888,937		Snam Rete Gas S.p.A.		4,325
	43,250	*,e	Solaria Energia y Medio Ambiente S.A.		201
	198,399		South Jersey Industries, Inc		7,003
	3,041,232		Southern Co		96,316
	491,117	e	Southern Union Co		10,210
	279,019		Southwest Gas Corp		7,137
	144,827		Southwest Water Co		713
	807,561	e	SP AusNet		631
	288,220	*,e	Stericycle, Inc		13,964
	448,321		Suez Environnement S.A.		10,241

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	118,410		Tata Power Co Ltd	$	3,244
	671,185	e	TECO Energy, Inc		9,450
	2,515,875		Tenaga Nasional BHD		5,953
	348,902		Terna Rete Elettrica Nazionale S.p.A.		1,361
	9,701		Thessaloniki Water Supply & Sewage Co S.A.		74
	1,256,997		Toho Gas Co Ltd		5,741
	716,093		Tohoku Electric Power Co, Inc		15,955
	2,148,421	e	Tokyo Electric Power Co, Inc		56,364
	4,317,301		Tokyo Gas Co Ltd		17,940
	149,796		Tractebel Energia S.A.		1,765
	230,785	e	TransAlta Corp		4,708
	162,395		Transfield Services Infrastructure Fund		135
	754,673		UGI Corp		18,912
	166,322	e	UIL Holdings Corp		4,389
	89,600		Ultrapar Participacoes S.A.		3,612
	45,938	*,f,m	Unified Energy System (GDR)		4
	201,173	e	Unisource Energy Corp		6,186
	200,952		United Utilities Group plc		1,466
	67,928	e	Unitil Corp		1,525
	251,016	e	Vectren Corp		5,783
	154,230	e	Veolia Environnement		5,911
	244,325	*	Waste Connections, Inc		7,051
	1,806,722		Waste Management, Inc		53,876
	108,228	*,e	Waste Services, Inc		500
	382,634		Westar Energy, Inc		7,465
	299,131	e	WGL Holdings, Inc		9,913
	2,318,095		Williams Cos, Inc		41,424
	574,604	e	Wisconsin Energy Corp		25,955
	2,667,738		Xcel Energy, Inc		51,327
	2,617,000		Xinao Gas Holdings Ltd		5,200
	1,642,000	*,m	Yingde Gases		1,483
	57,911	e	York Water Co		803
	7,960,222		YTL Power International		4,991
	13,052	e	Zhongde Waste Technology AG.		237
			TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		4,084,455
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 7.69%
	219,408	*,e	A123 Systems, Inc		4,678
	776,000	e	AAC Acoustic Technologies Holdings, Inc		848
	24,447	*	Aastra Technologies Ltd		538
	1,682,019		ABB Ltd		33,760
	58,716		ABB Ltd India		957
	253,194	*	Acme Packet, Inc		2,534
	147,960	*	Actel Corp		1,801
	217,048	e	Acuity Brands, Inc		6,991
	608,994	*	Adaptec, Inc		2,034

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	400,000	*	A-DATA Technology Co Ltd	$	971
	541,766	*,e	ADC Telecommunications, Inc		4,518
	214,043	*	Advanced Analogic Technologies, Inc		850
	227,025	*,e	Advanced Battery Technologies, Inc		985
	165,315	*	Advanced Energy Industries, Inc		2,354
	7,223,389	*,e	Advanced Micro Devices, Inc		40,884
	8,537,873		Advanced Semiconductor Engineering, Inc		7,025
	74,015		Aga Rangemaster Group plc		170
	15,500	e	Aiphone Co Ltd		278
	121,385	*,e	Airvana, Inc		822
	2,765,038	*,e	Alcatel S.A.		12,369
	66,200	e	Alpine Electronics, Inc		620
	312,674		Alps Electric Co Ltd		1,804
	1,021,819	e	Altera Corp		20,958
	213,825	*,e	American Superconductor Corp		7,172
	361,369		Ametek, Inc		12,615
	768,369	*,e	Amkor Technology, Inc		5,286
	950,249		Amphenol Corp (Class A)		35,805
	295,807	*,e	Anadigics, Inc		1,393
	2,340,702		Analog Devices, Inc		64,557
	418,300		Ansaldo STS S.p.A.		8,564
	5,461,225	*	Apple Computer, Inc		1,012,348
	477,756	*	Applied Micro Circuits Corp		4,773
	118,912		Applied Signal Technology, Inc		2,767
	1,738,747	e	ARM Holdings plc		3,990
	753,378	*	Arris Group, Inc		9,801
	77,885	*,e	Ascent Solar Technologies, Inc		587
	28,864	*	Ascom Holding AG.		354
	6,919,875		Asustek Computer, Inc		11,882
	327,320	*,e	Atheros Communications, Inc		8,684
	2,047,160	*	Atmel Corp		8,578
	166,252	*	ATMI, Inc		3,017
	8,423,853		AU Optronics Corp		8,189
	12,825		Austriamicrosystems AG.		269
	4,265,741		Avermedia Technologies		5,328
	37,000	e	Avex Group Holdings, Inc		343
	1,415,788	*	Avnet, Inc		36,768
	144,424		AVX Corp		1,723
	8,600		Axell Corp		362
	59,679	*,e	AZZ, Inc		2,397
	264,259	e	Baldor Electric Co		7,225
	89,718	*,e	Ballard Power Systems, Inc		243
	36,808		Bang & Olufsen AS (B Shares)		470
	14,991		Barco NV		654
	59,858		Bel Fuse, Inc (Class B)		1,139
	479,564	*	Benchmark Electronics, Inc		8,632

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	223,553	*,e	BigBand Networks, Inc	$	896
	3,126,269	*	Broadcom Corp (Class A)		95,945
	633,400	e	Byd Co Ltd		5,218
	2,430	*,e	C&D Technologies, Inc		5
	25,200		Canon Electronics, Inc		470
	12,569	e	Carbone Lorraine		464
	241,457	*	Celestica, Inc		2,300
	10,180	*	Centrotherm Photovoltaics AG.		489
	137,774	*	Ceradyne, Inc		2,525
	113,831	*	Ceva, Inc		1,224
	573,150	*,e	Chartered Semiconductor Manufacturing Ltd		1,058
	218,544	*	Checkpoint Systems, Inc		3,593
	383,481		Cheng Uei Precision Industry Co Ltd		781
	5,262,120		Chi Mei Optoelectronics Corp		2,766
	197,203	*,e	China BAK Battery, Inc		976
	11,538	*,e,m	China Energy Savings Technology, Inc		1
	176,258	*,e	China Security & Surveillance Technology, Inc		1,258
	15,490	*,e	China TransInfo Technology Corp		147
	279,165	e	Chloride Group plc		812
	10,889,000		Chunghwa Picture Tubes Ltd		1,253
	278,787	*,e	Ciena Corp		4,539
	34,470,972	*	Cisco Systems, Inc		811,448
	121,000		Clarion Co Ltd		112
	65,200	*	CMK Corp		556
	77,300	*	COM DEV International Ltd		201
	343,575		Compal Communications, Inc		399
	140,077	*,e	Comtech Telecommunications Corp		4,653
	127,672	*	Conergy AG.		159
	906,989		Cooper Industries plc		34,076
	1,594,000		Coretronic Corp		1,978
	11,000	*	Corona Corp		150
	22,900		Cosel Co Ltd		303
	51,822	*,e	CPI International, Inc		580
	313,000	*,e	Cree, Inc		11,503
	216,710	*,e	CSR plc		1,625
	214,109		CTS Corp		1,991
	115,391		Cubic Corp		4,554
	1,208,642	*,e	Cypress Semiconductor Corp		12,485
	152,000		Daihen Corp		623
	465,478		Daiichikosho Co Ltd		5,989
	297,000	e	Dainippon Screen Manufacturing Co Ltd		1,125
	90,000		Daiwa Industries Ltd		519
	66,184	*	DDi Corp		281
	64,835		De’Longhi S.p.A.		237
	177,713	*,e	Diodes, Inc		3,215
	496,130	*,e	Dolby Laboratories, Inc (Class A)		18,947

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES		COMPANY	VALUE (000)
169,812	*	DSP Group, Inc	$	1,382
85,427	*,e	DTS, Inc		2,339
622,348		Eaton Corp		35,219
145,015	*	EchoStar Corp (Class A)		2,677
33,500		Eizo Nanao Corp		799
136,792	*	Electro Scientific Industries, Inc		1,832
100,821	*,e	Elpida Memory, Inc		1,322
371,300	*	Eltek ASA		231
458,443	*,e	EMCORE Corp		596
85,784	*	EMS Technologies, Inc		1,786
492,729	*,e	Energizer Holdings, Inc		32,688
228,233	*,e	Energy Conversion Devices, Inc		2,643
231,129	*	EnerSys		5,113
230,188	*	Entropic Communications, Inc		631
529,578		Epistar Corp		1,911
5,291,430	e	Ericsson (LM) (B Shares)		53,132
936,066	*,e	Evergreen Solar, Inc		1,797
332,339		Everlight Electronics Co Ltd		1,085
37,971		Evertz Technologies Ltd		506
11,124		EVS Broadcast Equipment S.A.		832
187,447	*,e	Exar Corp		1,378
298,055	*	Exide Technologies		2,375
610,761	*	Fairchild Semiconductor International, Inc		6,248
278,427	*,e	First Solar, Inc		42,560
705,847		Fisher & Paykel Appliances Holdings Ltd		352
230,000	*	Flextronics International Ltd		1,716
224,650		Formosa Sumco Technology Corp		577
26,400	e	Foster Electric Co Ltd		583
2,937,100	*	Foxconn International Holdings Ltd		1,929
992,964		Foxconn Technology Co Ltd		2,817
128,622	e	Franklin Electric Co, Inc		3,688
320,349	*,e	FuelCell Energy, Inc		1,368
156,042	e	Fuji Electric Holdings Co Ltd		289
95,000		Fujitsu General Ltd		330
31,300	e	Funai Electric Co Ltd		1,430
17,000	*,e	Furukawa Battery Co Ltd		150
35,500	e	Futaba Corp/Chiba		579
22,715		Gamesa Corp Tecnologica S.A.		509
97,838	*,e	Gemalto NV		4,562
61,126,850		General Electric Co		1,003,704
648	e	Geo Corp		632
1,312,500		Geodesic Information Systems Ltd		3,801
34,684		Gewiss S.p.A.		158
82,860		Global Unichip Corp		392
128,489	*,e	Globecomm Systems, Inc		934
276,648	*,e	GN Store Nord		1,506

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES		COMPANY	VALUE (000)
80,171	*	GP Strategies Corp	$	600
689,132	*	GrafTech International Ltd		10,130
124,757	*,e	Greatbatch, Inc		2,803
59,874		Gruppo Beghelli S.p.A		65
501,000	e	GS Yuasa Corp		4,577
84,703	*	GSI Technology, Inc		338
151,517	*,e	GT Solar International, Inc		880
705,916	*	GVK Power & Infrastructure Ltd		682
399,781	e	Halma plc		1,386
78,100	e	Hamamatsu Photonics KK		1,871
4,981,441		HannStar Display Corp		1,094
321,195		Harman International Industries, Inc		10,882
473,800	*	Harmonic, Inc		3,165
742,732		Harris Corp		27,927
340,718	*	Harris Stratex Networks, Inc (Class A)		2,385
158,773	*	Helen of Troy Ltd		3,085
474,565	*,e	Hexcel Corp		5,429
924,540		High Tech Computer Corp		10,152
674,000		Hi-P International Ltd		342
21,623	e	Hirose Electric Co Ltd		2,438
197,125		Hitachi Chemical Co Ltd		4,027
37,281		Hitachi High-Technologies Corp		780
6,498,608		Hitachi Ltd		19,981
59,100	*,e	Hitachi Maxell Ltd		1,142
123,817	*,e	Hittite Microwave Corp		4,554
12,714,792		Hon Hai Precision Industry Co, Ltd		51,021
117,500	e	Hosiden Corp		1,593
532,008		Hoya Corp		12,565
16,382		Huber & Suhner AG.		648
4,760	*	Hutchinson Technology, Inc		34
588,950	*	Hynix Semiconductor, Inc		9,897
220,473	*	Ibiden Co Ltd		8,203
9,500		Icom, Inc		243
28,600		Idec Corp		227
181,719	e	Imation Corp		1,685
103,090		Imtech NV		2,629
56,440	e	Indesit Co S.p.A.		562
5,446,747	*,e	Infineon Technologies AG.		30,726
417,787	*,e	Infinera Corp		3,321
2,343,087		InnoLux Display Corp		2,981
2,406,100	*	Inotera Memories, Inc		1,546
2,880,514	*	Integrated Device Technology, Inc		19,472
33,818,081		Intel Corp		661,821
122,985	*,e	Intellon Corp		872
250,870	*,e	InterDigital, Inc		5,810
393,661	*,e	International Rectifier Corp		7,672

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES		COMPANY	VALUE (000)
409,603	e	Intersil Corp (Class A)	$	6,271
18,466		Ion Beam Applications		232
113,460	*,e	IPG Photonics Corp		1,725
92,307	*,e	iRobot Corp		1,136
146,523		IXYS Corp		1,247
102,000	*,e	Japan Aviation Electronics Industry Ltd		609
182,000	e	Japan Radio Co Ltd		464
742,660	*	JDS Uniphase Corp		5,280
1,748,586	*,e	Johnson Electric Holdings Ltd		736
1,109,600	*	JVC KENWOOD Holdings, Inc		593
684,669		Kinsus Interconnect Technology Corp		1,993
32,500	e	Koa Corp		293
864,323		Koninklijke Philips Electronics NV		21,046
38,297		Kudelski S.A.		889
246,303	e	Kyocera Corp		22,856
160,000	*	Kyosan Electric Manufacturing Co Ltd		756
938,731		L-3 Communications Holdings, Inc		75,399
281,636		Laird Group plc		937
878,813	*,e	Lattice Semiconductor Corp		1,977
75,455	e	Legrand S.A.		2,099
1,204		LEM Holding S.A.		302
20,161		LG Electronics, Inc (Preference)		905
176,347		LG Electronics, Inc		18,784
132,825	e	Lincoln Electric Holdings, Inc		6,303
916,218	e	Linear Technology Corp		25,315
122,393	*,e	Littelfuse, Inc		3,212
12,539		Loewe AG.		195
63,797	*	Loral Space & Communications, Inc		1,753
19,387		LS Industrial Systems Co Ltd		1,530
135,201	e	LSI Industries, Inc		899
6,391,140	*,e	LSI Logic Corp		35,087
33,217	e	Mabuchi Motor Co Ltd		1,691
7,103,959		Macronix International		3,911
1,700	*	Magnetek, Inc		3
2,395	*,e	Manz Automation AG.		190
4,378,278	*	Marvell Technology Group Ltd		70,884
2,110,020	e	Matsushita Electric Industrial Co Ltd		31,098
71,657	e	Matsushita Electric Works Ltd		857
1,243,514		Maxim Integrated Products, Inc		22,557
110,056	*,e	Maxwell Technologies, Inc		2,028
588,000		Meadville Holdings Ltd		153
1,554,768		MediaTek, Inc		25,922
21,700	e	Megachips Corp		469
183,000	e	Meidensha Corp		958
11,400	e	Meiko Electronics Co		239
23,113		Melexis NV		235

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES		COMPANY	VALUE (000)
1,201,251	*,e	MEMC Electronic Materials, Inc	$	19,977
71,269	*,e	MEMSIC, Inc		267
126,806	*	Mercury Computer Systems, Inc		1,250
219,261		Methode Electronics, Inc		1,901
3,330	*	Meyer Burger Technology AG.		803
231,851		Micrel, Inc		1,890
557,029	e	Microchip Technology, Inc		14,761
6,938,819	*,e	Micron Technology, Inc		56,898
29,615	*	Micronas Semiconductor Holdings, Inc		126
508,985	*	Microsemi Corp		8,037
311,291	*,e	Microtune, Inc		567
372,319	*,e	Microvision, Inc		2,051
47,118		Millicom International Cellular S.A.		3,440
34,800		Mimasu Semiconductor Industry Co Ltd		497
246,704	e	Minebea Co Ltd		1,132
329,186	*,e	MIPS Technologies, Inc		1,241
4,633,567		Mitsubishi Electric Corp		35,101
25,000		Mitsui High-Tec, Inc		315
84,082		Mitsumi Electric Co Ltd		1,815
494,327		Molex, Inc		10,322
188,193	*	Monolithic Power Systems, Inc		4,413
246,005	*	Moog, Inc (Class A)		7,257
302,331		Motech Industries, Inc		826
8,664,913		Motorola, Inc		74,432
92,188	*	Multi-Fineline Electronix, Inc		2,647
409,233		Murata Manufacturing Co Ltd		19,421
206,078		Nan Ya Printed Circuit Board Corp		715
958,982	*	Nanya Technology Corp		612
22,886	e	National Presto Industries, Inc		1,980
1,053,329	e	National Semiconductor Corp		15,031
53,900	*,e	NEC Electronics Corp		479
412,500		Neo-Neon Holdings Ltd		180
452,825	*	Net Insight AB		338
2,316,918	*	NetApp, Inc		61,815
87,196	*	Netlogic Microsystems, Inc		3,924
42,784	e	Nexans S.A.		3,458
100,886	e	NGK Spark Plug Co Ltd		1,288
70,815	*	Nice Systems Ltd		2,121
65,000	e	Nichicon Corp		831
17,800	e	Nidec Copal Electronics Corp		105
179,540		Nidec Corp		14,581
22,400	e	Nihon Dempa Kogyo Co Ltd		435
133,000	e	Nippon Carbon Co Ltd		437
206,000	e	Nippon Chemi-Con Corp		1,005
38,200	e	Nissha Printing Co Ltd		1,953
46,000		Nissin Electric Co Ltd		283

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES		COMPANY	VALUE (000)
532,783		Nitto Denko Corp	$	16,322
28,200	e	Nitto Kogyo Corp		283
26,843	e	NKT Holding AS		1,567
30,000	e	Nohmi Bosai Ltd		251
8,926,463		Nokia Oyj		131,278
722,787	*	Novellus Systems, Inc		15,164
25,584	*,e	NVE Corp		1,360
6,494,903	*,e	Nvidia Corp		97,618
32,800	*	Obara Corp		298
229		Okinawa Cellular Telephone Co		458
288,491	*	Omnivision Technologies, Inc		4,697
128,608		Omron Corp		2,427
2,074,908	*,e	ON Semiconductor Corp		17,118
458,427	*,e	Openwave Systems, Inc		1,192
98,135	*	Oplink Communications, Inc		1,425
142,261	*,e	OpNext, Inc		417
37,481	*	Option NV		106
67,758	*	Orion Energy Systems, Inc		212
136,511	*	OSI Systems, Inc		2,497
470,840		Pace plc		1,714
550,350		Panasonic Corp (ADR)		8,035
98,977		Park Electrochemical Corp		2,440
142,144	*,e	Parkervision, Inc		581
15,857	*	Parrot S.A.		208
131,436	*	Pericom Semiconductor Corp		1,289
118,413		Phison Electronics Corp		1,004
279,053	*	Photronics, Inc		1,323
311,146	*,e	Pioneer Corp		749
253,513		Plantronics, Inc		6,797
265,945	*	Plexus Corp		7,005
151,197	*,e	PLX Technology, Inc		510
912,573	*,e	PMC - Sierra, Inc		8,724
454,749	*,e	Polycom, Inc		12,165
122,327	*,e	Polypore International, Inc		1,579
65,973	*	Powell Industries, Inc		2,533
114,855	e	Power Integrations, Inc		3,828
8,455,035	*	Powerchip Semiconductor Corp		778
627,958	*,e	Power-One, Inc		1,225
3,079,236		Powertech Technology, Inc		9,253
750,176	*,e	Powerwave Technologies, Inc		1,200
431,000	*	Prime View International Co Ltd		677
344,700		PV Crystalox Solar plc		408
71,373	*,e	Q-Cells AG.		1,367
776,218	*,e	QLogic Corp		13,351
10,902,028		Qualcomm, Inc		490,373

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,982,323		Quanta Computer, Inc	$	8,362
	325,479	*,e	Rambus, Inc		5,663
	76,130	e	Raven Industries, Inc		2,035
	246,226		Redes Energeticas Nacionais S.A.		1,080
	210,752	e	Regal-Beloit Corp		9,633
	896,048		Reliance Communication Ventures Ltd		5,762
	389,174	*,e	Renewable Energy Corp AS		3,416
	220,336	*	Research In Motion Ltd		14,884
	915,841	*	Research In Motion Ltd (Canada)		61,914
	195,171		Reunert Ltd		1,455
	1,576,304	*	RF Micro Devices, Inc		8,559
	68,587	*	RHJ International		501
	141,725		Richtek Technology Corp		1,221
	1,262,633	e	Ricoh Co Ltd		18,398
	33,000	e	Rinnai Corp		1,559
	80,025	*,e	Rogers Corp		2,398
	269,268		Rohm Co Ltd		18,838
	56,108	*,e	Rubicon Technology, Inc		833
	23,514	e	Saft Groupe S.A.		1,308
	67,112		Samsung Electro-Mechanics Co Ltd		5,781
	167,394		Samsung Electronics Co Ltd		115,787
	23,336		Samsung Electronics Co Ltd (Preference)		9,764
	42,034		Samsung SDI Co Ltd		5,316
	148,000	e	Sanken Electric Co Ltd		508
	36,000		Sanyo Denki Co Ltd		180
	2,103,225	*,e	Sanyo Electric Co Ltd		4,991
	255,706	*,e	SatCon Technology Corp		437
	1,046		Schweiter Technologies AG.		522
	188,986	*	Seachange International, Inc		1,417
	53,287	e	SEB S.A.		2,829
	21,000		SEC Carbon Ltd		161
	301,219	*	Semtech Corp		5,124
	69,689	*	SGL Carbon AG.		2,851
	1,146,827	e	Sharp Corp		12,750
	70,000		Shindengen Electric Manufacturing Co Ltd		204
	15,000		Shinkawa Ltd		291
	251,961	e	Shinko Electric Industries		4,488
	31,000		Shin-Kobe Electric Machinery Co Ltd		370
	237,370	*	ShoreTel, Inc		1,854
	93,843		Siemens India Ltd		1,087
	436,683	*	Silicon Image, Inc		1,061
	184,477	*,e	Silicon Laboratories, Inc		8,552
	472,394	*,e	Silicon Storage Technology, Inc		1,143
	3,231,031		Siliconware Precision Industries Co		4,563
	619,000		Silitech Technology Corp		1,696
	1,146,000		SIM Technology Group Ltd		123

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	270,500		Simplo Technology Co Ltd	$	1,536
	259,105		Sino-American Silicon Products, Inc		621
	114,534	*,e	Sirius XM Radio, Inc		73
	1,034,810	*,e	Skyworks Solutions, Inc		13,701
	268,743	*,e	Smart Modular Technologies WWH, Inc		1,279
	2,233,726		Smiths Group plc		31,718
	82,000		SMK Corp		529
	86,909	*,e	SOITEC		1,218
	11,358	*	Solar Millennium AG.		392
	54,456,511	e	Solomon Systech International Ltd		5,270
	8,707	*,e	Solon AG.		117
	1,924,013		Sony Corp		56,907
	66,803	*	Spectrum Control, Inc		567
	121,957	*	Standard Microsystems Corp		2,831
	114,934		Stanley Electric Co Ltd		2,330
	263,776	*,e	Starent Networks Corp		6,705
	514,692	e	STMicroelectronics NV		4,850
	87,660	*,e	Stoneridge, Inc		621
	168,274	e	Sumco Corp		3,824
	368,825	*,e	Sunpower Corp (Class A)		11,024
	2,111	*	Sunpower Corp (Class B)		53
	54,907	*,e	Supertex, Inc		1,647
	954,861	*	Sycamore Networks, Inc		2,884
	262,073	*,e	Symmetricom, Inc		1,358
	205,894	*,e	Synaptics, Inc		5,189
	36,120,504		Taiwan Semiconductor Manufacturing Co Ltd		72,470
	331,649		Taiwan Semiconductor Manufacturing Co Ltd (ADR)		3,635
	144,000	e	Taiyo Yuden Co Ltd		1,699
	74,000	*	Takaoka Electric Manufacturing Co Ltd		256
	183,900	e	Tandberg ASA		4,403
	3,928,000	*	Tatung Co Ltd		896
	308,923	e	TDK Corp		17,861
	238,127		Technitrol, Inc		2,193
	103,885	*	Techwell, Inc		1,141
	2,141,733		Teco Electric and Machinery Co Ltd		933
	353,597	*,e	Tekelec		5,810
	40,101	*	Telecomunicaciones y Energia		199
	169,707		Teleflex, Inc		8,199
	1,249,746	*	Tellabs, Inc		8,648
	307,774	*	Tessera Technologies, Inc		8,584
	6,556,679		Texas Instruments, Inc		155,328
	27,384	*	Theolia SA		195
	468,743	*	Thomas & Betts Corp		14,100
	274,084	e	Thomson		559
	73,000	e	Toko, Inc		116
	155,105	e	Tokyo Denpa Co Ltd		1,130

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	197,000	*	Toshiba TEC Corp	$	922
	27,800	e	Toyo Corp/Chuo-ku		285
	12,500	e	Toyo Tanso Co Ltd		648
	170,100	*,e	Toyota Boshoku Corp		3,356
	768,984		Transcend Information, Inc		2,751
	480,569	*,e	Trident Microsystems, Inc		1,245
	756,847		Tripod Technology Corp		1,940
	798,398	*	Triquint Semiconductor, Inc		6,164
	178,519		TT electronics plc		185
	244,881	*,e	TTM Technologies, Inc		2,809
	96,854	*,e	Ultralife Corp		587
	64,000		Uniden Corp		150
	1,266,756		Unimicron Technology Corp		1,541
	3,626	*,e	United Capital Corp		84
	17,655,022		United Microelectronics Corp		8,650
	142,503	*,e	Universal Display Corp		1,701
	69,074	*	Universal Electronics, Inc		1,410
	341,085	*,e	US Geothermal, Inc		532
	642,175		Ushio, Inc		11,196
	714,760	*,e	Utstarcom, Inc		1,494
	9,811		Vacon plc		366
	286,527	*,e	Valence Technology, Inc		516
	885,743		Vanguard International Semiconductor Corp		386
	230,337	*,e	Varian Semiconductor Equipment Associates, Inc		7,564
	367,200	*	Via Technologies, Inc		272
	127,824	*	Viasat, Inc		3,398
	14,800	*,e	Vic Tokai Corp		188
	118,325	e	Vicor Corp		913
	77,796	*,e	Virage Logic Corp		405
	1,339,248	*,e	Vishay Intertechnology, Inc		10,580
	191,716	*,e	Volterra Semiconductor Corp		3,522
	251,000	e	Vtech Holdings Ltd		2,162
	278,437	e	Whirlpool Corp		19,479
	92,675	*	White Electronic Designs Corp		428
	3,073,000	*	Winbond Electronics Corp		623
	1,071,000	*	Wintek Corp		783
	116,915	*	Wolfson Microelectronics plc		258
	55,910		Woongjin Coway Co Ltd		1,796
	835,870		Xilinx, Inc		19,576
	15,750	*,m	Ya Hsin Industrial Co Ltd		3
	7,344,000		Yageo Corp		2,058
	174,972	e	Yaskawa Electric Corp		1,263
	96,000		Young Fast Optoelectronics Co Ltd		1,329
	94		Zappallas, Inc		177
	307,027	*,e	Zix Corp		675
	141,037	*,e	Zoltek Cos, Inc		1,481

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	386,526	*	Zoran Corp	$	4,453
	676,252	e	ZTE Corp		3,569
	33,453		Zumtobel AG.		610
			TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		7,268,957
ENGINEERING AND MANAGEMENT SERVICES - 0.79%
	44,312		Aangpanneforeningen AB (B Shares)		1,093
	153,837	*,e	Accelrys, Inc		892
	349,505		Accenture plc		13,026
	106,828	*	Advisory Board Co		2,686
	337,582	*	Aecom Technology Corp		9,162
	183,200	e	Aeon Mall Co Ltd		3,814
	95,034		Aero Inventory PLC		417
	84,141	*,e	Affymax, Inc		2,010
	21,741	*	Alten		584
	430,809	*,e	Amylin Pharmaceuticals, Inc		5,898
	84,765		Arcadis NV		1,555
	706,988	*,e	Ariad Pharmaceuticals, Inc		1,570
	30,950		Assystem		377
	216,835		Atkins WS plc		2,176
	68,241	e	Ausenco Ltd		352
	389,035	e	Babcock International Group		3,535
	11,806	*	Baidu, Inc (ADR)		4,617
	10,390	*	Bavarian Nordic AS		474
	11,454		Bertrandt AG.		298
	54,007		Bilfinger Berger AG.		3,737
	100,140	*	BioInvent International AB		378
	40,100	*	Blom AS		104
	43,058	e	Bure Equity AB		237
	293,667		Cap Gemini S.A.		15,382
	325,727	e	Capita Group plc		3,761
	83,272	e	CDI Corp		1,170
	428,834	*	Celera Corp		2,672
	5,159,000	*	China Railway Group Ltd		4,433
	41,000	*	Commuture Corp		299
	108,535	*,e	comScore, Inc		1,955
	55,415	*	Cornell Cos, Inc		1,244
	170,920	e	Corporate Executive Board Co		4,256
	52,242	*,e	CRA International, Inc		1,426
	100,418	*	Cudeco Ltd		455
	137,155		Daewoo Engineering & Construction Co Ltd		1,630
	121,198	e	Diamond Management & Technology Consultants, Inc		830
	10,865	a,e	Digital Garage, Inc		22,913
	12,421		Dinamia		206
	748,417		Downer EDI Ltd		5,407
	96,432		DTZ Holdings plc		158

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	387,347	*,e	Dyax Corp	$	1,391
	311,214	*,e	eResearch Technology, Inc		2,178
	8,326	e	Eurofins Scientific		390
	753,911	*,e	Exelixis, Inc		4,810
	95,967	*	Exponent, Inc		2,703
	871,152		Fluor Corp		44,299
	60,728	*,e	Franklin Covey Co		355
	196,037		Fugro NV		11,321
	188,020	*,e	Furmanite Corp		810
	238	*,e	GCA Savvian Group Corp		300
	13,700		Genivar Income Fund		336
	192,135	*	Genpact Ltd		2,363
	270,796	*,e	Gen-Probe, Inc		11,222
	25,717		GFK AG.		890
	234,615	e	Groupe Aeroplan, Inc		2,169
	347,048		Hargreaves Lansdown plc		1,583
	527,289	*,e	Hewitt Associates, Inc (Class A)		19,209
	126,224	*	Hill International, Inc		896
	87,206		HIQ International AB		369
	104,396	*,e	Huron Consulting Group, Inc		2,697
	67,946		Hyundai Development Co		2,468
	40,117	*,e	ICF International, Inc		1,216
	607,567	*,e	Incyte Corp		4,101
	97,330	*,e	Infinity Pharmaceuticals, Inc		606
	607,235	*,e	Insmed, Inc		498
	289,863		Intertek Group plc		5,879
	37,257		IPSOS		1,156
	458,454	*,e	Isis Pharmaceuticals, Inc		6,680
	838,647	*	Jacobs Engineering Group, Inc		38,537
	405,158		JGC Corp		8,287
	650,699		John Wood Group plc		3,162
	4,565		Kapsch TrafficCom AG.		176
	2,365,712	e	KBR, Inc		55,098
	131,920		Keller Group plc		1,533
	84,382	*,e	Kendle International, Inc		1,411
	46,237	e	Landauer, Inc		2,542
	461,014	*,e	Lexicon Pharmaceuticals, Inc		982
	200,376	*,e	Luminex Corp		3,406
	85,686		MAXIMUS, Inc		3,993
	190,641	*,e	Maxygen, Inc		1,275
	879,636	*	McDermott International, Inc		22,228
	25,880	e	Medion AG.		278
	16,628		MedQuist, Inc		106
	61,756	*	Michael Baker Corp		2,244
	489,231		Mitie Group		1,973
	114,560	e	Monadelphous Group Ltd		1,352

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	120,123		Mouchel Group plc	$	450
	581,266	*	Myriad Genetics, Inc		15,927
	2,329	e	National Research Corp		56
	241,752	*,e	Navigant Consulting, Inc		3,264
	20,587	*	NeuroSearch AS		605
	84,600	*	Nichii Gakkan Co		845
	70,000	e	Nippon Densetsu Kogyo Co Ltd		661
	16,785	*	Novabase SGPS S.A.		118
	40,300		NPC, Inc		1,118
	315,612		NRW Holdings Ltd		454
	151,743	*	Omnicell, Inc		1,690
	20,600	e	Oyo Corp		207
	980,739	e	Paychex, Inc		28,491
	698,187		Petrofac Ltd		11,019
	40,921		Poyry Oyj		742
	183,325		Programmed Maintenance Services Ltd		725
	946,235	e	QinetiQ plc		2,129
	318,202	*,e	Regeneron Pharmaceuticals, Inc		6,141
	5,080,000		Regent Pacific Group Ltd		150
	199,480	*,e	Repligen Corp		999
	224,837	*	Resources Connection, Inc		3,836
	239,944	*	Rigel Pharmaceuticals, Inc		1,968
	276,000		Road King Infrastructure		209
	89,786		Robert Walters plc		297
	639,000		Rotary Engineering Ltd		522
	250,011		RPS Group PLC		899
	278,038	*	RTI Biologics, Inc		1,209
	209,729		SAI Global Ltd		612
	1,610,499	*,e	SAIC, Inc		28,249
	51,531		Samsung Engineering Co Ltd		4,548
	209,690	*,e	Sangamo Biosciences, Inc		1,722
	400,286	*,e	Savient Pharmaceuticals, Inc		6,084
	140,941		Savills plc		749
	123,578		Scott Wilson Group plc		212
	441,125	*,e	Seattle Genetics, Inc		6,189
	1,973,539		SembCorp Industries Ltd		4,749
	305,855	*,e	Sequenom, Inc		988
	2,343,726	e	Serco Group plc		18,915
	1,191,000	e	Shandong Weigao Group Medical Polymer Co Ltd		3,934
	1,767,784	*,e	Shaw Group, Inc		56,729
	42,800		Shinko Plantech Co Ltd		419
	138,000		Shui On Construction and Materials Ltd		193
	85,643	*	Silex Systems Ltd		529
	256,919		SNC-Lavalin Group, Inc		11,602
	54,932	*,e	Stanley, Inc		1,413
	57,962	*	Stantec, Inc		1,451

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,612	e	Strabag SE	$	52
	359,000	*,e	Swiber Holdings Ltd		234
	179,785	*	Symyx Technologies, Inc		1,190
	120	*,e	Takara Bio, Inc		311
	326,618		Tecan Group AG.		20,171
	50,873	*,e	Tejon Ranch Co		1,306
	383,975	*	Tetra Tech, Inc		10,187
	22,073	*,e	ThromboGenics NV		491
	576,957	e	Toyo Engineering Corp		1,967
	30,854	*,e	Transcend Services, Inc		539
	512,589		Transfield Services Ltd		1,922
	64,567		Trevi Finanziaria S.p.A.		1,123
	237,025	e	United Group Ltd		3,099
	277,668	*	URS Corp		12,120
	342,000		Value Partners Group Ltd		142
	263,411	*,e	VCA Antech, Inc		7,083
	31,231		VSE Corp		1,218
	196,355	e	VT Group plc		1,770
	356,817		Watson Wyatt & Co Holdings (Class A)		15,543
	1,717		Wellnet Corp		1,274
	624,349	e	WorleyParsons Ltd		16,364
	119,696		WSP Group plc		689
	67,822	*	WuXi PharmaTech Cayman, Inc (ADR)		809
	226,473		Xchanging plc		798
	2,855	*	XING AG.		150
	906,600		Zelan BHD		233
			TOTAL ENGINEERING AND MANAGEMENT SERVICES		743,470
ENVIRONMENTAL QUALITY AND HOUSING - 0.00%**
	634,400	e	Transpacific Industries Group Ltd		856
			TOTAL ENVIRONMENTAL QUALITY AND HOUSING		856
EXECUTIVE, LEGISLATIVE AND GENERAL - 0.00%**
	332,300	e	Nippon Suisan Kaisha Ltd		988
			TOTAL EXECUTIVE, LEGISLATIVE AND GENERAL		988
FABRICATED METAL PRODUCTS - 0.48%
	27,857		AFG Arbonia-Forster Hldg		605
	91,800		Aica Kogyo Co Ltd		981
	145,542	*,e	Alliant Techsystems, Inc		11,330
	1,669,577		Amcor Ltd		8,071
	48,001		Ameron International Corp		3,359
	252,965	e	Aptargroup, Inc		9,451
	69,000		Asahi Organic Chemicals Industry Co Ltd		184

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	603,095		Ball Corp	$	29,672
	156,074		Bharat Heavy Electricals		7,556
	95,000	e	Bunka Shutter Co Ltd		361
	87,909	*	Bway Holding Co		1,627
	30,538		Cardo AB		747
	27,481	e	CCL Industries		570
	207,332	*	Chart Industries, Inc		4,476
	1,416,212		China International Marine Containers Co Ltd (Class B)		1,451
	19,200		Chofu Seisakusho Co Ltd		407
	98,982		CIRCOR International, Inc		2,797
	433,618		Commercial Metals Co		7,762
	156,048		Crane Co		4,028
	1,736,680	*	Crown Holdings, Inc		47,237
	58,629		Dynamic Materials Corp		1,170
	1,400		Furuya Metal Co Ltd		169
	50,643	e	Geberit AG.		7,780
	31,889		Gerresheimer AG.		1,003
	249,000	e	Goodpack Ltd		179
	263,303	*	Griffon Corp		2,651
	83,026		Gulf Island Fabrication, Inc		1,556
	26,760		Gunnebo AB		132
	36,794	*,e	Hawk Corp		505
	22,000	e	Hisaka Works Ltd		244
	239,000		Hitachi Cable Ltd		700
	61,000	e	Hitachi Metals Ltd		625
	2,634,795		Illinois Tool Works, Inc		112,531
	86,327	e	Insteel Industries, Inc		1,032
	486,998		Jindal Steel & Power Ltd		5,943
	186,351		JS Group Corp		3,270
	115,000		Kitz Corp		579
	89,833	*,e	Ladish Co, Inc		1,359
	54,120	e	Landi Renzo S.p.A.		246
	6,651		LISI		364
	74,382	*,e	Martinrea International, Inc		501
	31,300		Miura Co Ltd		886
	182,134	*,e	Mobile Mini, Inc		3,162
	810,615		Mueller Water Products, Inc (Class A)		4,442
	98,515	*,e	NCI Building Systems, Inc		315
	78,390		Nibe Industrier AB (Series B)		796
	64,571	*	North American Galvanizing & Coating, Inc		392
	547,885	e	Parker Hannifin Corp		28,402
	1,470,038		Pentair, Inc		43,395
	24,135		Permasteelisa S.p.A		468
	1,236		Phoenix Mecano AG.		495
	198,626		Quanex Building Products Corp		2,852
	1,379,419		Rexam plc		5,754

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	100,899	e	Rotork PLC	$	1,824
	5,548		Sabaf S.p.A.		130
	5,015	e	Salzgitter AG.		481
	243,000		Sankyo-Tateyama Holdings, Inc		236
	247,000		Sanwa Shutter Corp		850
	610,161		Shin Zu Shing Co Ltd		3,407
	179,025	e	Silgan Holdings, Inc		9,440
	191,739	e	Simpson Manufacturing Co, Inc		4,843
	1,858,000		Singamas Container Holdings Ltd		319
	12,785	*	SmartHeat, Inc		152
	464,072	*,e	Smith & Wesson Holding Corp		2,427
	176,679	e	Snap-On, Inc		6,141
	84,187	e	Ssab Svenskt Stal AB (Series A)		1,304
	163,942	e	Ssab Svenskt Stal AB (Series B)		2,316
	351,234		Stanley Works		14,994
	187,310	e	Sturm Ruger & Co, Inc		2,424
	60,028	e	Sun Hydraulics Corp		1,264
	314,561	*,e	Taser International, Inc		1,485
	17,200		Tocalo Co Ltd		313
	239,000		Toyo Kanetsu K K		455
	389,764		Toyo Seikan Kaisha Ltd		7,499
	77,202	*,e	Trimas Corp		394
	23,000		Tsukishima Kikai Co Ltd		149
	79,156	e	Valmont Industries, Inc		6,743
	95,957		Viohalco S.A.		633
	167,032	e	Watts Water Technologies, Inc (Class A)		5,053
			TOTAL FABRICATED METAL PRODUCTS		451,846
FISHING, HUNTING, AND TRAPPING - 0.00%**
	52,500	*	Copeinca ASA		258
	39,360	*,e	HQ Sustainable Maritime Industries, Inc		347
	109,511	e	Tassal Group Ltd		168
			TOTAL FISHING, HUNTING, AND TRAPPING		773
FOOD AND KINDRED PRODUCTS - 3.78%
	127,414	*,e	AgFeed Industries, Inc		680
	4,015		Agrana Beteiligungs AG.		404
	961,325		Ajinomoto Co, Inc		9,628
	23,190	e	Aker ASA (A Shares)		590
	44,226	*,e	American Dairy, Inc		1,253
	268,837	*,e	American Italian Pasta Co		7,307
	238,181		Anadolu Efes Biracilik Ve Malt Sanayii AS		2,600
	2,974	*	Anheuser-Busch InBev NV		0	^
	4,108,520		Archer Daniels Midland Co		120,051
	19,300		Ariake Japan Co Ltd		319
	21,449	*	Aryzta AG.		869

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,083,396		Asahi Breweries Ltd	$	19,818
	1,018,500		Asiatic Development BHD		1,766
	1,315,430		Associated British Foods plc		17,806
	13,247		Atria Group plc		231
	119,100		Austevoll Seafood ASA		705
	738,493		B&G Foods, Inc (Class A)		6,048
	1,934	e	Barry Callebaut AG.		1,145
	1,010,500		Beijing Enterprises Holdings Ltd		5,352
	430,991		Bidvest Group Ltd		6,802
	5,112		Bonduelle S.C.A.		524
	6,429		Bongrain S.A.		497
	43,513	*,e	Boston Beer Co, Inc (Class A)		1,613
	428,861		Britvic plc		2,416
	721,007	e	Bunge Ltd		45,142
	358,557		C&C Group plc		1,516
	448,902		Cadbury plc		5,761
	1,071,878	e	Campbell Soup Co		34,965
	16,391	e	Campofrio Alimentacion S.A.		171
	113,927		Carlsberg AS (Class B)		8,253
	368,913	*	Central Garden and Pet Co (Class A)		4,032
	6,332,700	e	China Agri-Industries Holdings Ltd		5,916
	1,370,100	e	China Yurun Food Group Ltd		2,952
	9,555		CJ CheilJedang Corp		1,683
	253,744		Coca Cola Hellenic Bottling Co S.A.		6,754
	1,311,514		Coca-Cola Amatil Ltd		11,350
	32,030		Coca-Cola Bottling Co Consolidated		1,551
	22,800		Coca-Cola Central Japan Co Ltd		317
	11,749,554		Coca-Cola Co		630,950
	3,491,563		Coca-Cola Enterprises, Inc		74,754
	449,732	e	Coca-Cola Femsa S.A. de C.V.		2,168
	67,920		Coca-Cola Icecek AS		481
	42,267		Coca-Cola West Japan Co Ltd		827
	3,872,069		ConAgra Foods, Inc		83,946
	1,129,326	*	Constellation Brands, Inc (Class A)		17,109
	240,470	e	Corn Products International, Inc		6,858
	136,235	*	Cosan SA Industria e Comercio		1,504
	57,352		Cranswick plc		619
	92,724		CSM		2,341
	1,930,644	e	CSR Ltd		3,202
	554,221	*	Darling International, Inc		4,074
	175,936	e	Davide Campari-Milano S.p.A.		1,578
	2,345,864		Del Monte Foods Co		27,165
	265,852		Devro plc		578
	2,616,740		Diageo plc		40,147
	96,021	e	Diamond Foods, Inc		3,046
	51,900		Doutor Nichires Holdings Co Ltd		796

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	2,181,146	*	Dr Pepper Snapple Group, Inc	$	62,708
	9,700		Dydo Drinco, Inc		321
	121,067	e	Ebro Puleva S.A.		2,303
	97,000		Ezaki Glico Co Ltd		1,080
	35,954	e	Farmer Bros Co		744
	291,100	e	Flowers Foods, Inc		7,653
	3,240,355		Fomento Economico Mexicano S.A. de C.V.		12,335
	101,500	e	Fuji Oil Co Ltd		1,433
	21,000		Fujicco Co Ltd		249
	2,805,258		General Mills, Inc		180,603
	141,216		Glanbia plc		599
	3,960,932		Golden Agri-Resources Ltd		1,209
	161,855		Greencore Group plc		372
	153,653		Greggs PLC		983
	243,468	e	Groupe Danone		14,672
	599,371	e	Grupo Bimbo S.A. de C.V. (Series A)		3,332
	621,926		Grupo Modelo S.A. (Series C)		2,331
	1,222,756		H.J. Heinz Co		48,605
	440,548	*,e	Hansen Natural Corp		16,186
	444,065		Heineken NV		20,473
	650,062	e	Hershey Co		25,261
	6,040		Hite Brewery Co Ltd		861
	41,628		HKScan Oyj		568
	213,898		Hormel Foods Corp		7,598
	86,100	e	House Foods Corp		1,442
	79,693	e	Imperial Sugar Co		1,011
	3,244,175		InBev NV		148,141
	518,000	*	Indofood Agri Resources Ltd		588
	30,000	*,m	International Hydron		1
	4,557,820		IOI Corp BHD		6,848
	87,244	e	Ito En Ltd		1,615
	146,000	e	Itoham Foods, Inc		569
	93,374	e	J&J Snack Foods Corp		4,033
	495,942		J.M. Smucker Co		26,290
	129,000		J-Oil Mills, Inc		437
	79,800	e	Kagome Co Ltd		1,613
	1,249,866		Kaneka Corp		8,981
	1,533,980	e	Kellogg Co		75,518
	140,033		Kerry Group plc (Class A)		4,006
	16,800	e	KEY Coffee, Inc		298
	1,501,518		Kirin Brewery Co Ltd		23,017
	69,422		Koninklijke Wessanen NV		370
	7,843,224		Kraft Foods, Inc (Class A)		206,041
	1,604,527		Kulim Malaysia BHD		3,431
	128,191	e	Lancaster Colony Corp		6,572
	137,749	e	Lance, Inc		3,557

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	3,047		Laurent-Perrier	$	249
	35,050		Leroy Seafood Group ASA		622
	23,807	*,e	Lifeway Foods, Inc		262
	119		Lindt & Spruengli AG. (PC)		289
	25		Lindt & Spruengli AG. (Reg)		694
	302,451		Lion Nathan Ltd		3,055
	804		Lotte Confectionery Co Ltd		845
	71,221	*	M&F Worldwide Corp		1,442
	73,869		Maple Leaf Foods, Inc		655
	158,200	*	Marfrig Alimentos S.A.		1,505
	218,000		Marudai Food Co Ltd		682
	67,537	*,e	Matrixx Initiatives, Inc		384
	53,200	e	Matsumotokiyoshi Holdings Co Ltd		1,328
	637,110	e	McCormick & Co, Inc		21,624
	129,839	e	Mead Johnson Nutrition Co		5,857
	93,523	*	MEIJI Holdings Co Ltd		3,990
	145,000		Mercian Corp		375
	31,500		Mikuni Coca-Cola Bottling Co Ltd		273
	146,000		Mitsui Sugar Co Ltd		516
	429,619		Molson Coors Brewing Co (Class B)		20,914
	203,000		Morinaga & Co Ltd		452
	432,000	e	Morinaga Milk Industry Co Ltd		2,156
	17,000	*,e	Nagatanien Co Ltd		164
	73,308	*,e	National Beverage Corp		844
	7,491,465		Nestle S.A.		319,235
	534,000	e	Nichirei Corp		2,112
	123,000	e	Nippon Beet Sugar Manufacturing Co Ltd		336
	190,000	e	Nippon Flour Mills Co Ltd		1,033
	111,853	e	Nippon Meat Packers, Inc		1,438
	184,000	e	Nisshin Oillio Group Ltd		1,000
	520,595		Nisshin Seifun Group, Inc		7,284
	46,121		Nissin Food Products Co Ltd		1,773
	231,000	e	NOF Corp		1,158
	501,000		Northern Foods plc		564
	41,716	e	Nutreco Holding NV		2,029
	944,000	*	Oceanus Group Ltd		245
	170,458	e	Olam International Ltd		303
	100,139	*,e	Omega Protein Corp		486
	91,602	*,e	Overhill Farms, Inc		554
	5,595,885		Parmalat S.p.A.		15,469
	56,027	*,e	Peet’s Coffee & Tea, Inc		1,582
	603,534		Pepsi Bottling Group, Inc		21,993
	302,576		PepsiAmericas, Inc		8,642
	8,716,004		PepsiCo, Inc		511,280
	394,059		Perdigao S.A.		10,499
	69,957	e	Pernod-Ricard S.A.		5,556

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	3,015,600	e,m	Petra Foods Ltd	$	1,798
	6,901,326		Premier Foods plc		4,632
	474,000	*	Prima Meat Packers Ltd		570
	476,524		PT Astra Agro Lestari Tbk		1,038
	5,277,400		PT Indofood Sukses Makmur Tbk		1,652
	160,100	e	Q.P. Corp		1,828
	191,235		Raisio plc (V Shares)		700
	253,693	*	Ralcorp Holdings, Inc		14,833
	531,204		Remgro Ltd		6,265
	22,768		Remy Cointreau S.A.		952
	797,170	e	Reynolds American, Inc		35,490
	63,876		Robert Wiseman Dairies PLC		429
	1,652,285		SABMiller plc		39,847
	144,434	e	Sanderson Farms, Inc		5,436
	271,853	e	Sapporo Holdings Ltd		1,387
	186,358		Saputo, Inc		4,374
	3,981,946		Sara Lee Corp		44,359
	19,279		Schouw & Co		394
	50,101	*	Seneca Foods Corp		1,373
	165,000		Showa Sangyo Co Ltd		548
	12,648		Sipef S.A		638
	312,505	*,e	Smart Balance, Inc		1,919
	872,918	*,e	Smithfield Foods, Inc		12,046
	321,500	m	Snow Brand Milk Products Co Ltd		1,200
	36,734	e	SOS Cuetara S.A.		181
	349,941	e	Suedzucker AG.		7,092
	261,000		Super Coffeemix Manufacturing Ltd		117
	1,392,250		Swire Pacific Ltd (Class A)		16,366
	22,800		T Hasegawa Co Ltd		387
	210,000	e	Takara Holdings, Inc		1,453
	75,000	e	Takasago International Corp		424
	614,993		Tate & Lyle plc		4,155
	2,324,000	e	Tingyi Cayman Islands Holding Corp		4,798
	115,943	e	Tootsie Roll Industries, Inc		2,757
	706,671		Total Produce plc		372
	305,724		Toyo Suisan Kaisha Ltd		8,276
	180,658	*,e	TreeHouse Foods, Inc		6,444
	1,597,423		Tyson Foods, Inc (Class A)		20,175
	16,300	e	Unicharm Petcare Corp		606
	3,980,571		Unilever plc		113,108
	709,167		Unilever plc (ADR)		20,339
	295,080		United Breweries Co, Inc		2,024
	74,289		United Spirits Ltd		1,413
	1,042,000	e	Vitasoy International Holdings Ltd		628
	2,858		Vranken - Pommery Monopole		151
	2,115,748		Wilmar International Ltd		9,492

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	78,462	e	Yakult Honsha Co Ltd	$	2,093
	490,362	e	Yamazaki Baking Co Ltd		6,643
	282,400		Yantai Changyu Pioneer Wine Co		1,810
	20,000		Yonekyu Corp		207
	40,145	*,e	Zapata Corp		279
			TOTAL FOOD AND KINDRED PRODUCTS		3,577,034
FOOD STORES - 0.59%
	483,152		Alimentation Couche Tard, Inc		8,461
	54,100		Arcs Co Ltd		864
	6,762	e	Arden Group, Inc (Class A)		808
	13,164	*,e	Caribou Coffee Co, Inc		95
	472,516	e	Carrefour S.A.		21,435
	24,500		Cawachi Ltd		561
	1,067,493		Centros Comerciales Sudamericanos S.A.		2,930
	1,614,300	e	China Resources Enterprise		4,697
	70,600	e	Circle K Sunkus Co Ltd		1,066
	5,584	e	Colruyt S.A.		1,312
	128,122		Companhia Brasileira de Distribuicao Grupo Pao de Acucar		3,616
	2,729,300		CP Seven Eleven PCL		1,642
	8,300		CREATE SD HOLDINGS Co Ltd		191
	218,463		Delhaize Group		15,166
	68,084		Discount Investment Corp		1,536
	33,812		Empire Co Ltd		1,380
	69,406		FamilyMart Co Ltd		2,235
	23,200		Fuji Co Ltd		452
	69,691		George Weston Ltd		3,628
	2,367,606	e	Goodman Fielder Ltd		3,488
	180,926	*,e	Great Atlantic & Pacific Tea Co, Inc		1,612
	8,804		Guyenne et Gascogne S.A.		895
	54,598		Hakon Invest AB		850
	31,300		Heiwado Co Ltd		435
	62,558	e	Ingles Markets, Inc (Class A)		990
	59,200		Izumi Co Ltd		824
	73,000		Izumiya Co Ltd		398
	5,506,417		J Sainsbury plc		28,600
	1,096,580	e	Jeronimo Martins SGPS S.A.		9,604
	70,400		Kasumi Co Ltd		340
	17,263	e	Kesko Oyj (B Shares)		578
	3,054,282		Koninklijke Ahold NV		36,740
	4,262,072		Kroger Co		87,970
	78,883		Lawson, Inc		3,664
	216,289		Loblaw Cos Ltd		6,384
	107,000	*	Maruetsu, Inc		522
	435,000		Maruha Nichiro Holdings, Inc		664
	27,200		Ministop Co Ltd		430

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	9,600	e	OZEKI Co Ltd	$	399
	244,866	*,e	Panera Bread Co (Class A)		13,468
	157,198	*	Pantry, Inc		2,465
	521,446		Pick’n Pay Stores Ltd		2,770
	801,625		President Chain Store Corp		1,965
	245,611	e	Ruddick Corp		6,538
	1,847,284		Safeway, Inc		36,428
	1,225,381		Seven & I Holdings Co Ltd		29,350
	581,912		Shoprite Holdings Ltd		4,803
	1,007,185	e	Sonae SPGS S.A.		1,393
	1,214,272	e	Supervalu, Inc		18,287
	43,444	*,e	Susser Holdings Corp		546
	2,128,000	*	Taiwan TEA Corp		1,420
	16,810,197		Tesco plc		107,354
	6,687		Valora Holding AG.		1,594
	44,590		Village Super Market (Class A)		1,314
	6,790,000		Want Want China Holdings Ltd		3,995
	95,337	e	Weis Markets, Inc		3,046
	749,343	*	Whole Foods Market, Inc		22,847
	304,950	*,e	Winn-Dixie Stores, Inc		4,001
	2,450,314	e	WM Morrison Supermarkets plc		10,859
	912,062		Woolworths Ltd		23,535
	7,500	e	Yaoko Co Ltd		271
			TOTAL FOOD STORES		555,711
FORESTRY - 0.09%
	197,748	*,b,e	Great Southern Ltd		21
	1,197	*	Gunns Ltd		78
	640,139		Rayonier, Inc		26,188
	1,656,166	e	Weyerhaeuser Co		60,699
			TOTAL FORESTRY		86,986
FURNITURE AND FIXTURES - 0.09%
	45,399	*,e	Astronics Corp		427
	20,792		Beter BED Holding NV		402
	48,300		Cleanup Corp		377
	42,796		Dorel Industries, Inc (Class B)		1,176
	126,277	e	Ethan Allen Interiors, Inc		2,084
	39,377	*	Faurecia		855
	128,000	e	France Bed Holdings Co Ltd		183
	221,967	e	Furniture Brands International, Inc		1,227
	269,174	e	Herman Miller, Inc		4,552
	308,619	e	Hill-Rom Holdings, Inc		6,722
	233,847	e	HNI Corp		5,519
	49,561	e	Hooker Furniture Corp		669
	36,200		Itoki Corp		97

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	190,442	e	Kimball International, Inc (Class B)	$	1,453
	542,347	*,e	Kinetic Concepts, Inc		20,055
	281,490	e	La-Z-Boy, Inc		2,435
	587,779	e	Leggett & Platt, Inc		11,402
	1,136,413	e	Masco Corp		14,681
	6,806		Mecalux S.A.		111
	60,000		Okamura Corp		297
	23,400	e	Paramount Bed Co Ltd		503
	36,651		Recticel S.A.		298
	222,201	*,e	Sealy Corp		711
	46,549	*,e	Stanley Furniture Co, Inc		483
	419,935	e	Steelcase, Inc (Class A)		2,608
	414,937	*	Tempur-Pedic International, Inc		7,859
	113,000		Uchida Yoko Co Ltd		374
			TOTAL FURNITURE AND FIXTURES		87,560
FURNITURE AND HOME FURNISHINGS STORES - 0.23%
	1,100,630	*	Bed Bath & Beyond, Inc		41,318
	1,957,335	e	Best Buy Co, Inc		73,438
	48,500		Best Denki Co Ltd		230
	43,114		Carpetright plc		552
	1,004,000	*,b,e	Circuit City Stores, Inc		16
	4,035,543	e	DSG International PLC		1,725
	105,568		Dunelm Group plc		525
	114,000	e	EDION Corp		989
	509,732	*,e	GameStop Corp (Class A)		13,493
	87,197	e	Grupo Elektra S.A. de CV		3,451
	102,054	e	GUD Holdings Ltd		785
	2,359,998	e	Harvey Norman Holdings Ltd		8,953
	102,511	e	Haverty Furniture Cos, Inc		1,211
	56,152	*,e	hhgregg, Inc		951
	31,200	*	Hoshizaki Electric Co Ltd		449
	155,407	e	JB Hi-Fi Ltd		2,723
	537,793		Kesa Electricals plc		1,233
	229,778		Knoll, Inc		2,397
	30,200	e	Kohnan Shoji Co Ltd		341
	63,800	e	Kojima Co Ltd		329
	42,600	e	Komeri Co Ltd		1,262
	86,600	e	K’s Holdings Corp		2,904
	188,058		Nitori Co Ltd		16,027
	496,050	*,e	Pier 1 Imports, Inc		1,920
	45,380		Poltrona Frau S.p.A.		60
	924,201	e	RadioShack Corp		15,314
	32,182	*,e	Rex Stores Corp		351
	51,500		Shimachu Co Ltd		1,351
	1,902,706		Steinhoff International Holdings Ltd		4,179

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	174,527	*,e	Tuesday Morning Corp	$	726
	411,349		Williams-Sonoma, Inc		8,322
	129,938	e	Yamada Denki Co Ltd		8,801
			TOTAL FURNITURE AND HOME FURNISHINGS STORES		216,326
GENERAL BUILDING CONTRACTORS - 0.45%
	29,971		Ackermans & Van Haaren		2,182
	75,824		ACS Actividades Cons y Servicios S.A.		3,955
	4,726,919		AMEC plc		57,036
	9,136	*,e	Amrep Corp		121
	34,000	*	AMREP CORP		0	^
	336,016		Asunaro Aoki Construction Co Ltd		1,815
	31,546	*,e	Avatar Holdings, Inc		599
	664,764		Aveng Ltd		3,827
	2,134,350		Balfour Beatty plc		10,983
	499,151	*,e	Barratt Developments plc		1,958
	202,001	*,e	Beazer Homes USA, Inc		1,129
	132,479		Bellway plc		1,758
	99,340		Berkeley Group Holdings plc		1,407
	22,259	*	Bird Construction, Income Fund		683
	142,323		Bovis Homes Group plc		1,062
	49,468	e	Brookfield Homes Corp		330
	624,857		Carillion plc		2,750
	35,986	*,e	Cavco Industries, Inc		1,278
	1,068,400		Century City International		59
	765,791	e	Cheung Kong Infrastructure Holdings Ltd		2,737
	5,701,080	e	China Overseas Land & Investment Ltd		12,329
	203,000	e	Daikyo, Inc		470
	141,029		Daito Trust Construction Co Ltd		6,159
	1,062,645		Daiwa House Industry Co Ltd		11,128
	525,975		DLF Ltd		4,789
	1,490,047	e	DR Horton, Inc		17,001
	35,760	e	Eiffage S.A.		2,278
	490,000		Farglory Land Development Co Ltd		1,184
	1,333,108		Fletcher Building Ltd		8,039
	122,000	e	Fujitec Co Ltd		693
	403,832	e	Galliford Try PLC		378
	4,036,303	e	Haseko Corp		3,957
	206,344		Hellenic Technodomiki Tev S.A.		1,800
	112,258		Hochtief AG.		8,552
	261,199	*,e	Hovnanian Enterprises, Inc (Class A)		1,003
	1,394,050		IJM Corp BHD		1,813
	439,655	e	Impregilo S.p.A.		1,924
	199,909		Interserve plc		735
	12,907,300	*	Italian-Thai Development PCL		1,429
	37,357		J&P-Avax SA		192

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	140,662	e	JM AB	$	1,740
	671,868	e	Kajima Corp		1,721
	249,454	e	KB Home		4,143
	35,811	e	Kier Group plc		677
	122,843		Koninklijke BAM Groep NV		1,418
	6,368		Lemminkainen Oyj		247
	324,414	e	Lend Lease Corp Ltd		3,034
	609,112	e	Lennar Corp (Class A)		8,680
	345,611	*	Leopalace21 Corp		2,776
	103,671	*	M/I Homes, Inc		1,409
	129,000		Maeda Corp		415
	3,639		Maisons France Confort		144
	116,672	e	McGrath RentCorp		2,482
	587,244		MDC Holdings, Inc		20,401
	79,283	e	Mears Group PLC		371
	178,343	*	Meritage Homes Corp		3,620
	57,246		Michaniki S.A.		145
	24,896		Michaniki S.A. (Preference)		48
	70,000		Mitsui Home Co Ltd		405
	133,069		Mota Engil SGPS S.A.		740
	158,283		MRV Engenharia e Participacoes S.A.		3,038
	66,321	e	NCC AB (B Shares)		1,011
	60,892	*,e	NVR, Inc		38,811
	444,670		Obayashi Corp		1,947
	1,530,000	*	Pacific Century Premium Developments Ltd		409
	491,000		Paliburg Holdings Ltd		118
	217,000		PanaHome Corp		1,325
	10,442	*	PBG S.A.		764
	181,865		Peab AB (Series B)		1,244
	312,500		Penta-Ocean Construction Co Ltd		404
	157,851	*,e	Perini Corp		3,362
	449,202		Persimmon plc		3,276
	2,230,922	*,e	Pulte Homes, Inc		24,518
	697,815	f	Puravankara Projects Ltd		1,821
	171,054	e	Redrow plc		588
	13,378	e	Renta Corp Real Estate S.A.		71
	191,683		ROK plc		165
	167,432		Ruukki Group Oyj		470
	347,750	e	Ryland Group, Inc		7,327
	6,258		Sacyr Vallehermoso S.A.		118
	1,393,699		Sekisui Chemical Co Ltd		8,105
	989,381		Sekisui House Ltd		8,928
	415,203	e	Shimizu Corp		1,633
	17,112		Sjaelso Gruppen		55
	113,784	e	Skanska AB (B Shares)		1,670
	140,139		Sobha Developers Ltd		767

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,723		SRV Group plc	$	130
	552,732	*,e	Standard-Pacific Corp		2,040
	181,900	e	Sumitomo Forestry Co Ltd		1,530
	481,915	e	Sunland Group Ltd		351
	663,251		Taisei Corp		1,315
	126,693	e	Takamatsu Corp		2,032
	832,689	*	Talaat Moustafa Group		975
	4,110,255	*	Taylor Woodrow plc		2,767
	92,425	*,e	Team, Inc		1,567
	156,868		Tekfen Holding AS		452
	35,064		Terna Energy S.A.		308
	307,000	e	Toda Corp		1,084
	15,410		Token Corp		501
	79,480		Tokyu Construction Co Ltd		236
	470,053	*,e	Toll Brothers, Inc		9,185
	584,082	*	Urbi Desarrollos Urbanos S.A. de C.V		1,178
	122,700	e	Veidekke ASA		918
	811,540	e	Vinci S.A.		45,912
	29,000	*,e	Yahagi Construction Co Ltd		198
	154,571	e	YIT Oyj		2,943
	2,243,193		YTL Corp BHD		4,634
			TOTAL GENERAL BUILDING CONTRACTORS		428,339
GENERAL MERCHANDISE STORES - 1.57%
	241,302	*,e	99 Cents Only Stores		3,246
	443,747	e	Aeon Co Ltd		4,246
	33,300		Arc Land Sakamoto Co Ltd		426
	338,593	*,e	Big Lots, Inc		8,472
	1,336,615	*,e	BJ’s Wholesale Club, Inc		48,412
	270,113	e	Casey’s General Stores, Inc		8,476
	55,073	*,e	Conn’s, Inc		622
	1,547,060		Costco Wholesale Corp		87,347
	76,450	*,e	Daiei, Inc		312
	1,094,030		David Jones Ltd		5,636
	290,552	e	Dillard’s, Inc (Class A)		4,097
	63,300	e	Don Quijote Co Ltd		1,502
	14,171		Dufry Group		793
	779,320		Family Dollar Stores, Inc		20,574
	1,774,671		Far Eastern Department Stores Co Ltd		1,761
	232,450	e	Fred’s, Inc (Class A)		2,959
	614,000	e	Golden Eagle Retail Group Ltd		1,030
	133,000	e	Hankyu Department Stores, Inc		836
	33,798		Hyundai Department Store Co Ltd		3,155
	271,079	e	Isetan Mitsukoshi Holdings Ltd		3,113
	781,111	e	J Front Retailing Co Ltd		4,708
	37,600	e	Japan Airport Terminal Co Ltd		471

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	955,564		JC Penney Co, Inc	$	32,250
	2,608		Jelmoli Holding AG.		1,122
	83,000	e	Joshin Denki Co Ltd		644
	398,302	e	Keio Corp		2,720
	1,095,358	e	Kintetsu Corp		4,234
	424,000		Lifestyle International Holdings Ltd		642
	489,800		Lojas Americanas S.A.		3,307
	3,749,631		Macy’s, Inc		68,581
	1,958,027		Marks & Spencer Group plc		11,331
	188,510	e	Marui Co Ltd		1,350
	31,300	e	Matsuya Co Ltd		251
	371,000		Metro Holdings Ltd		191
	111,045	e	Mothercare plc		1,000
	1,228,000		New World Department Store China Ltd		989
	725,911		Next plc		20,789
	58,139		North West Co Fund		946
	435,666	e	Odakyu Electric Railway Co Ltd		3,931
	219,232		Pantaloon Retail India Ltd		1,545
	158,848	e	PPR		20,360
	42,274	e	Rallye S.A.		1,503
	23,460		Reject Shop Ltd		276
	156,281	*,e	Retail Ventures, Inc		824
	24,000		Ryohin Keikaku Co Ltd		1,243
	333,205		SACI Falabella		1,467
	655,527	*,e	Saks, Inc		4,471
	41,825	*,e	Sears Canada, Inc		830
	153,472	*,e	Sears Holdings Corp		10,023
	68,072		Shinsegae Co Ltd		34,375
	434,741		SM Investments Corp		2,982
	230,808	*,e	Stein Mart, Inc		2,934
	34,099		Stockmann Oyj Abp (B Share)		899
	233,586	e	Takashimaya Co Ltd		1,868
	4,945,304		Target Corp		230,848
	3,888,520		TJX Companies, Inc		144,459
	590,407	e	Tobu Railway Co Ltd		3,604
	1,333,968		Tokyu Corp		6,390
	143,763		UNY Co Ltd		1,076
	4,039,458		Wal-Mart de Mexico S.A. de C.V. (Series V)		14,048
	12,911,792		Wal-Mart Stores, Inc		633,841
	137,372		Warehouse Group Ltd		417
			TOTAL GENERAL MERCHANDISE STORES		1,486,755
HEALTH SERVICES - 0.89%
	127,804	*,e	Alliance Imaging, Inc		723
	219,519	*	Allied Healthcare International, Inc		615
	33,884	*,e	Almost Family, Inc		1,008

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	179,568	*,e	Amedisys, Inc	$	7,835
	65,099		America Service Group, Inc		1,077
	79,871	*	American Dental Partners, Inc		1,118
	1,673,581		AmerisourceBergen Corp		37,455
	156,158	*	Amsurg Corp		3,315
	52,038	*	Assisted Living Concepts, Inc (A Shares)		1,078
	9,289		Assura Group Ltd		5
	82,897		Athens Medical Center S.A.		194
	2,299,400		Bangkok Dusit Medical Service PCL		1,772
	11,563	e	BioMerieux		1,271
	57,773	*	Bio-Reference Labs, Inc		1,987
	21,900		BML, Inc		634
	161,258		Brookdale Senior Living, Inc		2,924
	51,561	*,e	China Sky One Medical, Inc		680
	8,087		Clinica Baviera S.A.		96
	56,317		CML Healthcare Income Fund		729
	285,330	*,e	Community Health Systems, Inc		9,111
	154,551	*,e	Continucare Corp		467
	9,016	*	Corp Dermoestetica		48
	43,642	*	Corvel Corp		1,239
	198,246	*,e	Covance, Inc		10,735
	1,865,856	*	Coventry Health Care, Inc		37,242
	182,007	*,e	Cross Country Healthcare, Inc		1,694
	114,903	*	Crucell NV		2,642
	207,558	*,e	CryoLife, Inc		1,654
	500,734	*	DaVita, Inc		28,362
	134,771		Diagnostic & Therapeutic Center of Athens Hygeia S.A.		450
	272,497	*,e	Edwards Lifesciences Corp		19,050
	121,527	*,e	eHealth, Inc		1,765
	101,360	*,e	Emeritus Corp		2,225
	45,986	e	Ensign Group, Inc		645
	160,393	*,e	Enzo Biochem, Inc		1,136
	1,330,316	*	Express Scripts, Inc		103,206
	59,611		Extendicare Real Estate Investment Trust		468
	1,297,760		Fraser and Neave Ltd		3,657
	246,008	e	Fresenius Medical Care AG.		12,251
	68,727	*,e	Genomic Health, Inc		1,502
	82,290	*,e	Genoptix, Inc		2,862
	191,168	*	Gentiva Health Services, Inc		4,781
	136,064	*	Health Grades, Inc		674
	756,375	*	Health Management Associates, Inc (Class A)		5,665
	492,019		Healthscope Ltd		2,079
	1,722,842	*	Healthsouth Corp		26,945
	200,813	*,e	Healthways, Inc		3,076
	474,050	*,e	Immunomedics, Inc		2,617
	50,537	*	IPC The Hospitalist Co, Inc		1,589

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	186,824		Japan Care Service Corp	$	645
	1,150	*	Japan Longlife Co Ltd		333
	219,939	*,e	Kindred Healthcare, Inc		3,570
	101,559		Laboratorios Almirall S.A.		1,318
	517,249	*,e	Laboratory Corp of America Holdings		33,983
	80,857	*	LCA-Vision, Inc		567
	124,203	*,e	LHC Group, Inc		3,717
	171,182	*,e	LifePoint Hospitals, Inc		4,632
	363,946	*,e	Lincare Holdings, Inc		11,373
	8,922	*	LVL Medical Groupe S.A.		196
	208,541	*	Magellan Health Services, Inc		6,477
	2,533,524		McKesson Corp		150,870
	128,400	*	MDS, Inc		1,052
	90,964	*	Medcath Corp		798
	2,701,489	*	Medco Health Solutions, Inc		149,418
	25,642	e	Mindray Medical International Ltd (ADR) (Class A)		837
	38,384	e	National Healthcare Corp		1,431
	457,244	*,e	Nektar Therapeutics		4,454
	1,728,534		Network Healthcare Holdings Ltd		2,386
	122,764	*	Nighthawk Radiology Holdings, Inc		888
	99,556	*,e	NovaMed, Inc		451
	204,423	*	Odyssey HealthCare, Inc		2,555
	439,606		Omnicare, Inc		9,900
	20,180	e	Orpea		930
	3,096	*	Osteotech, Inc		14
	996,000	e	Parkway Holdings Ltd		1,464
	171,076	*	Pediatrix Medical Group, Inc		9,395
	327,338		Pharmaceutical Product Development, Inc		7,182
	107,412	*,f	Pharmstandard (GDR)		1,936
	11,253		Prim S.A.		123
	716,923	e	Primary Health Care Ltd		3,928
	284,340	*,e	Psychiatric Solutions, Inc		7,609
	480,732		Quest Diagnostics, Inc		25,089
	476,000		Raffles Medical Group Ltd		460
	200,978		Ramsay Health Care Ltd		1,945
	153,247	*	RehabCare Group, Inc		3,324
	135,689	e	Rhoen Klinikum AG.		3,453
	99,091	*,e	Skilled Healthcare Group, Inc (Class A)		796
	310,090	e	Sonic Healthcare Ltd		3,887
	240,802	*	Sun Healthcare Group, Inc		2,081
	238,344	*	Sunrise Senior Living, Inc		722
	98,359		Synergy Healthcare plc		1,030
	1,466,583	*	Tenet Healthcare Corp		8,624
	190,130		Universal Health Services, Inc (Class B)		11,775
	72,305	*	US Physical Therapy, Inc		1,090
	38,986	*,e	Virtual Radiologic Corp		508
			TOTAL HEALTH SERVICES		843,569

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.25%
	43,521	e	Abengoa S.A.	$	1,260
	147,353		Abertis Infraestructuras S.A.		3,344
	49,002	e	Acciona S.A.		6,669
	87,055	e	Aecon Group, Inc		957
	110,000		Astaldi S.p.A.		959
	34,155		Athens Water Supply & Sewage Co S.A.		291
	126,240		Boskalis Westminster		4,312
	242,747	e	Bouygues S.A.		12,344
	83,782	*,e	Broadwind Energy, Inc		661
	311,000	e	Chiyoda Corp		2,449
	15,338		Compagnie d’Entreprises CFE		852
	120,358	*,e	Comverge, Inc		1,470
	4,314,381		ConnectEast Group		1,370
	659,379		Costain Group PLC		303
	51,656		Daelim Industrial Co		3,170
	6,083	e	Fomento de Construcciones y Contratas S.A.		285
	6,800	*	Foster Wheeler AG.		217
	1,922,800		Gamuda BHD		1,761
	95,408		GEK Group of Cos S.A.		894
	307,221		Giken Seisakusho Co, Inc		1,557
	198,018	e	Granite Construction, Inc		6,127
	236,256		Great Lakes Dredge & Dock Corp		1,649
	7,883	e	Grupo Ferrovial S.A.		377
	61,149		GS Engineering & Construction Corp		4,785
	264,000		Guangzhou Investment Co Ltd		43
	77,000		Hitachi Plant Technologies Ltd		522
	433,000	e	Hyflux Ltd		938
	74,677		Hyundai Engineering & Construction Co Ltd		4,056
	2,752,000	e	Jiangsu Express		2,258
	56,434	*	LB Foster Co (Class A)		1,726
	104,000		Maeda Road Construction Co Ltd		935
	193,784	*	Matrix Service Co		2,106
	379,534		Murray & Roberts Holdings Ltd		2,999
	84,819	*,e	MYR Group, Inc		1,789
	114,000		Nippo Corp		931
	4,257,000	e	Nishimatsu Construction Co Ltd		6,070
	69,408	e	Obrascon Huarte Lain S.A.		1,934
	193,000	e	Okumura Corp		727
	103,174		Orascom Construction Industries		4,415
	131,323	*,e	Orion Marine Group, Inc		2,697
	4,182,145		Saipem S.p.A.		125,947
	26,800	e	SHO-BOND Holdings Co Ltd		524
	72,468	*,e	Sterling Construction Co, Inc		1,298

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,000		Taihei Dengyo Kaisha Ltd	$	497
	66,000	e	Takuma Co Ltd		187
	41,534		Tecnicas Reunidas S.A.		2,271
	224,488	e	Teixeira Duarte - Engenharia Construcoes S.A.		360
	37,977	*	TK Development		198
	318,000		Toa Corp/Tokyo		365
	150,893		Tognum AG.		2,579
	26,000	*	Tokyo Energy & Systems, Inc		212
	42,000	e	Toshiba Plant Systems & Services Corp		560
	271,000		Toyo Construction Co Ltd		142
	898,257	e	Transurban Group		3,249
	54,000	*	Yokogawa Bridge Holdings Corp		435
	1,890,000		Zhejiang Expressway Co Ltd		1,656
			TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		232,689
HOLDING AND OTHER INVESTMENT OFFICES - 2.23%
	1,055,529		3i Group plc		4,868
	717,209	e	Aberdeen Asset Management plc		1,719
	330,935		Acadia Realty Trust		4,987
	547		Advance Residence Investment Corp		2,157
	166,256	*,e	Affiliated Managers Group, Inc		10,808
	273,695	*	Afirma Grupo Inmobiliario S.A.		167
	44,838		Agree Realty Corp		1,028
	10,018	e	Alexander’s, Inc		2,964
	166,858	e	Alexandria Real Estate Equities, Inc		9,069
	30,705,400		Allco Commercial Real Estate Investment Trust		3,488
	916,170	e	Allied Capital Corp		2,813
	16,417		Allied Properties Real Estate Investment Trust		253
	472,774	e	AMB Property Corp		10,850
	297,229	e	American Campus Communities, Inc		7,981
	63,660		American Capital Agency Corp		1,811
	106,238	*,e	Ampal American Israel (Class A)		216
	2,943,240		Annaly Mortgage Management, Inc		53,390
	444,776	e	Anthracite Capital, Inc		467
	602,699		Anworth Mortgage Asset Corp		4,749
	387,639	e	Apartment Investment & Management Co (Class A)		5,718
	426,705		ARC Energy Trust		8,051
	15,851		Artis Real Estate Investment Trust		135
	1,540,637	e	Ascendas Real Estate Investment Trust		2,111
	480,000		Ascott Residence Trust		329
	386,772	e	Ashford Hospitality Trust, Inc		1,338
	536,918	e	Ashmore Group plc		2,150
	108,764	e	Associated Estates Realty Corp		1,046
	564	*	Athris Holding AG.		577
	230,735	*,e	Atrium European Real Estate Ltd		1,658
	853,489	e	Australian Infrastructure Fund		1,216

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	424,222	e	AvalonBay Communities, Inc	$	30,854
	204,226		Ayala Corp		1,304
	543,708	e	Babcock & Brown Japan Property Trust		221
	1,258,870	e	Babcock & Brown Wind Partners		1,677
	2,073		Bajaj Finserv Ltd		12
	53,670		Bajaj Holdings and Investment Ltd		1,668
	23,311	e	Befimmo SCA Sicafi		2,115
	9,206		Bellevue Group AG.		358
	565,717	e	BioMed Realty Trust, Inc		7,807
	59,059		Boardwalk Real Estate Investment Trust		2,126
	936,727	e	Boston Properties, Inc		61,402
	576,656		Brandywine Realty Trust		6,366
	243,069	e	BRE Properties, Inc (Class A)		7,608
	381,174	e	Brewin Dolphin Holdings PLC		993
	834,000		Brightoil Petroleum Holdings Ltd		420
	738,985		Brookfield Asset Management, Inc		16,821
	273,850	*,e	BTG plc		794
	353,544	e	Bunnings Warehouse Property Trust		544
	50,175		Calloway Real Estate Investment Trust		890
	724,000		Cambridge Industrial Trust		234
	370,229	e	Camden Property Trust		14,920
	35,591		Canadian Apartment Properties REIT		490
	39,556		Canadian Real Estate Investment Trust		953
	55,602	*	Cape Bancorp, Inc		427
	3,672,600		CapitaCommercial Trust		2,711
	345,545	e	Capital Lease Funding, Inc		1,393
	14,901	e	Capital Southwest Corp		1,144
	603,000		CapitaRetail China Trust		522
	373,382	e	Capstead Mortgage Corp		5,194
	85,336	e	Care Investment Trust, Inc		655
	813,570	e	CBL & Associates Properties, Inc		7,892
	917,000		CDL Hospitality Trusts		937
	227,125	e	Cedar Shopping Centers, Inc		1,465
	1,486,496	e	CFS Gandel Retail Trust		2,636
	577,714		Challenger Diversified Property Group		240
	632,419		Charter Hall Group		351
	42,540		Cherokee, Inc		1,020
	1,357,035	e	China Merchants Holdings International Co Ltd		4,500
	233,060		CI Financial Corp		4,482
	40,804	*	Climate Exchange plc		539
	13,210	e	Cofinimmo		1,846
	139,514		Cogdell Spencer, Inc		670
	277,469	e	Colonial Properties Trust		2,700
	28,298		Cominar Real Estate Investment Trust		515
	3,200,005		Commonwealth Property Office Fund		2,682
	6,033		Compagnie Financiere Tradition S.A.		770

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	140,829		Companhia de Concessoes Rodoviarias	$	2,409
	42,159		Corp Financiera Alba		2,405
	270,499	e	Corporate Office Properties Trust		9,976
	356,421		Cousins Properties, Inc		2,951
	1,674	e	DA Office Investment Corp		5,501
	1,029,000		Dah Chong Hong Holdings Ltd		432
	106,894	e	Danvers Bancorp, Inc		1,453
	3,030,055		DB RREEF Trust		2,259
	1,142,112	e	DCT Industrial Trust, Inc		5,836
	13,889		Deutsche Beteiligungs AG.		329
	817,046	e	Developers Diversified Realty Corp		7,550
	677,945	e	DiamondRock Hospitality Co		5,491
	318,601	e	Digital Realty Trust, Inc		14,563
	86,763	e	Domino’s Pizza UK & IRL plc		405
	400,327	e	Douglas Emmett, Inc		4,916
	1,828,076		Duke Realty Corp		21,955
	55,203		Dynex Capital, Inc		465
	30,359	*	East Capital Explorer AB		275
	141,990	e	EastGroup Properties, Inc		5,427
	46,804	*	Eco Business-Immobilien AG.		324
	262,933		Education Realty Trust, Inc		1,559
	798,000	*	Emperor International Holdings		138
	194,524	e	Entertainment Properties Trust		6,641
	60,586	*	EOS Russia AB		317
	168,814	e	Equity Lifestyle Properties, Inc		7,224
	158,965	e	Equity One, Inc		2,491
	1,269,852	e	Equity Residential		38,984
	106,978	e	Essex Property Trust, Inc		8,513
	32,020		Eurazeo		2,093
	464,885	e	Extra Space Storage, Inc		4,905
	324,829	e	Federal Realty Investment Trust		19,935
	401,432	e	FelCor Lodging Trust, Inc		1,818
	1,510	*	First Hungary Fund		0	^
	194,298	e	First Industrial Realty Trust, Inc		1,020
	1,598,400	*,a,m	First NIS Regional Fund SICAV		16
	148,350	e	First Potomac Realty Trust		1,715
	28,186	e	Fonciere Des Regions		3,283
	34,941	*	Formuepleje Safe AS		762
	949,000	e	Fortune Real Estate Investment Trust		316
	2,228,000		Fosun International		1,555
	329,277	e	Franklin Street Properties Corp		4,314
	4,040,000		Franshion Properties China Ltd		1,147
	197	*,e	Frontier Real Estate Investment Corp		1,525
	133	*	Fukuoka REIT Corp		776
	3,363,340		Genting BHD		6,666
	447,466	*	Getin Holding S.A.		1,419

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	91,815	e	Getty Realty Corp	$	2,253
	18,582		Gimv NV		998
	108,815		Gladstone Capital Corp		972
	40,930	e	Gladstone Commercial Corp		560
	1,235,628		Glimcher Realty Trust		4,535
	136	*	Global One Real Estate Investment Corp		1,003
	12,905,588	e	GOME Electrical Appliances Holdings Ltd		3,447
	691,833		Goodman Property Trust		500
	4,569,182		GPT Group		2,761
	630,096	*	Gramercy Capital Corp		1,531
	73,203		Groupe Bruxelles Lambert S.A.		6,762
	883	*	Groupe Bruxelles Lambert S.A. - STR VVPR		0	^
	272,445		Groupe Eurotunnel S.A.		2,787
	70,754		GS Holdings Corp		1,961
	8,693,103		Guinness Peat Group plc		5,462
	176		Hankyu Reit, Inc		823
	134,349	*,e	Harris & Harris Group, Inc		840
	204,728	e	Hatteras Financial Corp		6,138
	1,085,740	e	HCP, Inc		31,204
	560,110		Health Care REIT, Inc		23,312
	330,845	e	Healthcare Realty Trust, Inc		6,991
	469,073		Heineken Holding NV		19,134
	229,186	e	Hersha Hospitality Trust		710
	394,526		Highwoods Properties, Inc		12,408
	189,133	*,e	Hilltop Holdings, Inc		2,319
	577,600	*	HKR International Ltd		229
	181,591	e	Home Properties, Inc		7,825
	398,478		Hospitality Properties Trust		8,117
	3,781,767	e	Host Marriott Corp		44,511
	1,432,392	e	HRPT Properties Trust		10,772
	573,112	*	Immoeast AG.		3,539
	122		Industrial & Infrastructure Fund Investment Corp		362
	679,403		Infratil Ltd		824
	1,500,423	e	ING Industrial Fund		834
	349,877	e	Inland Real Estate Corp		3,065
	129,063		Intek S.p.A.		60
	7,430		Intervest Offices		243
	31,000	*	Invesco Mortgage Capital, Inc		677
	2,789,880		Investimentos Itau S.A.		16,882
	345,412	e	Investors Real Estate Trust		3,123
	1,100,000	e	iShares MSCI Canada Index Fund		28,028
	1,220,171	e	iShares MSCI EAFE Index Fund		66,743
	267,741	*	iShares MSCI Emerging Market		10,418
	100,000		iShares MSCI Hong Kong Index Fund		1,552
	1,800,000	e	iShares MSCI Japan Index Fund		17,892
	200,000		iShares MSCI Taiwan Index Fund		2,460

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	473,307	e	iShares Russell 2000 Index Fund	$	28,507
	610,148	*,e	iStar Financial, Inc		1,855
	133,418	e	Jafco Co Ltd		4,080
	1,150,000		Japan Asia Investment Co Ltd		769
	387		Japan Excellent, Inc		2,113
	194	*,e	Japan Logistics Fund Inc		1,578
	3,013		Japan Prime Realty Investment Corp		7,324
	787	e	Japan Real Estate Investment Corp		6,435
	638	*,e	Japan Retail Fund Investment Corp		3,461
	1,200		Joint Reit Investment Corp		2,793
	66,460	*	KBC Ancora		1,901
	1,746	*	Kenedix Realty Investment Corp		6,555
	245,509	e	Kilroy Realty Corp		6,810
	2,492,616	e	Kimco Realty Corp		32,504
	208,860	e	Kite Realty Group Trust		871
	899,571		Kiwi Income Property Trust		689
	411,000		K-REIT Asia		344
	6,651,000		KWG Property Holding Ltd		4,300
	380,610	e	LaSalle Hotel Properties		7,483
	580,585	e	Lexington Corporate Properties Trust		2,961
	164,990		LG Corp		11,062
	389,120		Liberty Property Trust		12,658
	800,000		Lippo-Mapletree Indonesia Retail Trust		261
	125,622		LTC Properties, Inc		3,020
	422,785	e	Macerich Co		12,823
	532,039	e	Mack-Cali Realty Corp		17,201
	1,645,750	e	Macquarie CountryWide Trust		929
	3,180,401	e	Macquarie Infrastructure Group		4,138
	403,749		Macquarie Leisure Trust Group		511
	2,159,000	e	Macquarie MEAG Prime REIT		920
	248,681		Macquarie Media Group Ltd		419
	6,399,246	e	Macquarie Office Trust		1,694
	33,133	e	Main Street Capital Corp		471
	2,721,000		Mapletree Logistics Trust		1,487
	665,298		Marfin Investment Group S.A		2,862
	24,949	*	Martifer SGPS S.A.		132
	426,321	e	Medical Properties Trust, Inc		3,330
	87,335	*	Meinl Airports International AG.		383
	3,070,213	*,e	Melco International Development		1,965
	8,083	*	METabolic EXplorer S.A.		89
	1,541,796		MFA Mortgage Investments, Inc		12,273
	167		MID Reit, Inc		375
	178,770		Mid-America Apartment Communities, Inc		8,068
	356,088	e	Mission West Properties, Inc		2,396
	9,282		Mobimo Holding AG.		1,471
	120,214	e	Monmouth Real Estate Investment Corp (Class A)		837

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	52,921		Morguard Real Estate Investment Trust	$	569
	149		Mori Hills REIT Investment Corp		531
	160		Mori Trust Sogo Reit, Inc		1,292
	6,362		MPC Muenchmeyer Petersen Capital AG.		60
	111,566	e	MVC Capital, Inc		980
	137,267	e	National Health Investors, Inc		4,345
	459,897		National Retail Properties, Inc		9,874
	41,388		Nationale A Portefeuille		2,252
	589,250	e	Nationwide Health Properties, Inc		18,261
	196		Nippon Accommodations Fund, Inc		1,090
	755		Nippon Building Fund, Inc		6,737
	1,151	*,e	Nippon Commercial Investment Corp		2,145
	1,729		Nippon Residential Investment Corp		4,446
	389		Nomura Real Estate Office Fund, Inc		2,587
	228	e	Nomura Real Estate Residential Fund, Inc		1,087
	176,980	e	NOMURA TOPIX EXCHANGE TRADED FUND		1,816
	14,469		Northern Property Real Estate Investment Trust		277
	266,066	e	NorthStar Realty Finance Corp		934
	938,000		NWS Holdings Ltd		1,815
	443,792	e	Omega Healthcare Investors, Inc		7,110
	117		One Liberty Properties, Inc		1
	14,139		Orascom Development Holding AG.		1,265
	55,796		Oresund Investment AB		864
	407	*,e	Orix JREIT, Inc		2,108
	5,405		OZ Holding AG.		177
	706,000		Parkway Life Real Estate Investment Trust		581
	128,436	e	Parkway Properties, Inc		2,530
	17,440	e	Partners Group		2,127
	249,249	e	Pennsylvania Real Estate Investment Trust		1,897
	140,424	*,e	Pinetree Capital Ltd		248
	1,359,857	e	Plum Creek Timber Co, Inc		41,666
	5,436,160		Polytec Asset Holdings Ltd		982
	109,800		Porto Seguro S.A.		1,116
	243,590	e	Post Properties, Inc		4,385
	194,256	e	Potlatch Corp		5,527
	1,130		Premier Investment Co		4,695
	131,911		Premier Investments Ltd		1,010
	38,216	e	Primaris Retail Real Estate Investment Trust		543
	1,915,802	e	Prologis		22,836
	268,865	e	Prospect Capital Corp		2,880
	1,117,000		Prosperity REIT		192
	132,894		PS Business Parks, Inc		6,820
	583,523	e	Public Storage, Inc		43,904
	405,692	e	RAIT Investment Trust		1,193
	107,941	e	Ramco-Gershenson Properties		963
	46,836	e	Rathbone Brothers		651

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	166,436	e	Ratos AB (B Shares)	$	3,987
	323,792	e	Realty Income Corp		8,305
	3,079,565		Redefine Income Fund Ltd		2,952
	436,035		Redwood Trust, Inc		6,759
	59,234,000		Regal Real Estate Investment Trust		10,853
	450,458	e	Regency Centers Corp		16,689
	705,551	*,e	Resolution Ltd		1,046
	116,539	e	Resource Capital Corp		634
	174,671		RioCan Real Estate Investment Trust		2,937
	32,991		Saul Centers, Inc		1,059
	12,364	e	SBI Holdings, Inc		2,446
	409,685		Senior Housing Properties Trust		7,829
	798,000		Shanghai Industrial Holdings Ltd		3,599
	1,945,500		Shimao Property Holdings Ltd		3,299
	625,134	*	Shinhan Financial Group Co Ltd		24,936
	1,402,935	e	Simon Property Group, Inc		97,406
	464,367	e	SL Green Realty Corp		20,362
	12,829		Societe Fonciere Financiere et de Participations FFP		724
	15,754	e	Societe Immobiliere de Location pour l’Industrie et le Commerce		2,032
	99,791	*	Sonae Capital SGPS S.A.		136
	121,072		Sovran Self Storage, Inc		3,684
	1,510,887	e	SPDR Trust Series 1		159,488
	53,556	*,e	SRS Labs, Inc		391
	1,064,720	*	Starwood Property Trust, Inc		21,561
	400,423	*,e	Strategic Hotels & Resorts, Inc		1,037
	79,273	e	Sun Communities, Inc		1,706
	1,944,000		Sunlight Real Estate Investment Trust		459
	454,807	e	Sunstone Hotel Investors, Inc		3,229
	2,346,000		Suntec Real Estate Investment Trust		1,765
	227,146	e	Tanger Factory Outlet Centers, Inc		8,482
	365,817	e	Taubman Centers, Inc		13,199
	3,031,800	*	TM International BHD		2,716
	805	*,e	Tokyu REIT, Inc		4,018
	1,026		Top REIT Inc		4,938
	1,256	*,e	Transcontinental Realty Investors, Inc		15
	691,557	e	UDR, Inc		10,885
	46,105	e	UMH Properties, Inc		376
	572		United Urban Investment Corp		3,352
	53,000	e	Universal Health Realty Income Trust		1,725
	89,737	*	Uranium Participation Corp		544
	111,898	e	Urstadt Biddle Properties, Inc (Class A)		1,633
	460,640	e	U-Store-It Trust		2,879
	934,203	*,e	Vantage Drilling Co		1,710
	42,929		Vastned Offices/Industrial		760
	625,441	e	Ventas, Inc		24,079
	2,153,882	e	Virgin Media, Inc		29,982

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	38,296	*	Virtus Investment Partners, Inc	$	598
	5,218,000	*	Vista Land & Lifescapes, Inc		256
	820,070	e	Vornado Realty Trust		52,821
	831,521		WABCO Holdings, Inc		17,462
	98,716		Walter Investment Management Corp		1,581
	309,135	e	Washington Real Estate Investment Trust		8,903
	330,927	e	Weingarten Realty Investors		6,592
	37,856	e	Wendel		2,391
	8,407,252		Westfield Group		103,094
	2,372,726	e	Wharf Holdings Ltd		12,598
	53,514		Winthrop Realty Trust		521
			TOTAL HOLDING AND OTHER INVESTMENT OFFICES		2,109,500
HOTELS AND OTHER LODGING PLACES - 0.28%
	751,457	e	Accor S.A.		41,830
	128,399	e	Ameristar Casinos, Inc		2,026
	3,384,500		Banyan Tree Holdings Ltd		2,078
	121,408	*,e	Bluegreen Corp		370
	361,241		Boyd Gaming Corp		3,948
	89,325	e	Choice Hotels International, Inc		2,774
	23,847	*	Club Mediterranee S.A.		563
	858,981	e	Crown Ltd		6,767
	72,000		Fujita Kanko, Inc		303
	191,770	*,e	Gaylord Entertainment Co		3,855
	417,399		Great Eagle Holdings Ltd		1,031
	195,151	*,e	Great Wolf Resorts, Inc		697
	84,700		Holidaybreak plc		406
	387,631		Hongkong & Shanghai Hotels		502
	219,000		Hotel Properties Ltd		362
	450,000		Indian Hotels Co Ltd		724
	235,654		Intercontinental Hotels Group plc		3,060
	114,579	*,e	Isle of Capri Casinos, Inc		1,351
	11,700	e	Kyoritsu Maintenance Co Ltd		198
	4,265,000	*	Lai Sun Development		70
	2,580,851	*,e	Las Vegas Sands Corp		43,462
	111,772	e	Marcus Corp		1,430
	955,338	e	Marriott International, Inc (Class A)		26,358
	1,049,037	*,e	MGM Mirage		12,630
	164,530	e	Millennium & Copthorne Hotels plc		978
	10,184,096		Minor International PCL		3,780
	47,001	*,e	Monarch Casino & Resort, Inc		506
	117,099	*,e	Morgans Hotel Group Co		635
	92,274		NH Hoteles S.A.		611
	369,000	e	Nishi-Nippon Railroad Co Ltd		1,468
	714,441	*,e	Orient-Express Hotels Ltd (Class A)		8,223
	84,645	*,e	Outdoor Channel Holdings, Inc		554

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,127	e	Pierre & Vacances	$	786
	74,089	*	Red Lion Hotels Corp		426
	541,000		Regal Hotels International Holdings Ltd		190
	30,400	e	Resorttrust, Inc		393
	96,213		Rezidor Hotel Group AB		344
	2,263,013	e	Shangri-La Asia Ltd		4,263
	59,259		Sol Melia S.A.		598
	646,000		Stamford Land Corp Ltd		190
	1,288,954	e	Starwood Hotels & Resorts Worldwide, Inc		42,574
	58,279		Thomas Cook Group plc		216
	76,256	e	TUI Travel plc		310
	212,399		United Overseas Land Ltd		519
	163,529	*,e	Vail Resorts, Inc		5,485
	799,212	e	Wyndham Worldwide Corp		13,043
	2,408,800	*,m	Wynn Macau Ltd		3,133
	261,269	*	Wynn Resorts Ltd		18,521
			TOTAL HOTELS AND OTHER LODGING PLACES		264,541
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.07%
	135,878	*,e	3PAR, Inc		1,499
	65,650	e	Aaon, Inc		1,318
	4,195,904		Acer, Inc		10,703
	385,384		Actuant Corp (Class A)		6,189
	287,978		Advantech Co Ltd		537
	1,923,284	*,e	AGCO Corp		53,141
	86,400	e	Aichi Corp		438
	61,000		Aida Engineering Ltd		203
	109,311	e	Aixtron AG.		2,978
	39,619		Alamo Group, Inc		626
	136,612	e	Alfa Laval AB		1,603
	326,145	*,e	Allis-Chalmers Energy, Inc		1,422
	661,726	e	Alstom RGPT		48,291
	182,109	*,e	Altra Holdings, Inc		2,038
	236,986		Amada Co Ltd		1,595
	65,100	e	Amano Corp		564
	57,069		Ampco-Pittsburgh Corp		1,517
	65,868		Andritz AG.		3,285
	14,521,941		Applied Materials, Inc		194,595
	36,389	*,e	Argan, Inc		489
	54,000	e	Asahi Diamond Industrial Co Ltd		392
	46,417	*	ASM International NV		855
	503,848		ASM Pacific Technology		3,572
	1,188,896		ASML Holding NV		34,969
	95,583	*,e	Astec Industries, Inc		2,434
	24,003	*,e	A-TEC Industries AG.		382
	92,862	e	Atlas Copco AB (A Shares)		1,196

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	50,776	e	Atlas Copco AB (B Shares)	$	579
	108,943	*	ATS Automation Tooling Systems, Inc		585
	507		Belimo Holding AG.		501
	1,678,120		Benq Corp		934
	12,302		Biesse S.p.A.		103
	288,172	e	Black & Decker Corp		13,339
	105,926	e	Black Box Corp		2,658
	196,298	*,e	Blount International, Inc		1,859
	43,521	*,e	Bolt Technology Corp		547
	198,745	e	Bradken Ltd		1,155
	1,916,577		Brambles Ltd		13,662
	295,468	e	Briggs & Stratton Corp		5,735
	2,031,912	*,e	Brocade Communications Systems, Inc		15,971
	358,268	*	Brooks Automation, Inc		2,769
	736,666	e	Brother Industries Ltd		8,830
	7,450		Bucher Industries AG.		829
	253,612		Bucyrus International, Inc (Class A)		9,034
	3,689		Burckhardt Compression Holding AG.		605
	9,532		BWT AG.		239
	33,000		Canon Finetech, Inc		428
	1,831,805		Canon, Inc		74,077
	45,226		Cargotec Corp (B Shares)		1,064
	699,513		Carlisle Cos, Inc		23,720
	46,687	e	Cascade Corp		1,248
	175,786	e	Casio Computer Co Ltd		1,435
	2,203,996	e	Caterpillar, Inc		113,132
	267,161		Charter International plc		2,929
	457,081		Chicony Electronics Co Ltd		1,034
	7,019	*,e	China Automotive Systems, Inc		65
	2,394,500	e	China Railway Construction Corp		3,182
	2,089,200	*,e	China Zhongwang Holdings Ltd		2,054
	373,567	*	Cirrus Logic, Inc		2,077
	222,214		Citizen Watch Co Ltd		1,250
	59,400		CKD Corp		428
	586,912		Clevo Co		812
	116,580	*	Colfax Corp		1,239
	109,915	*	Columbus McKinnon Corp		1,665
	6,547,110		Compal Electronics, Inc		7,627
	300,762	*	Cray, Inc		2,505
	681,295		Cummins, Inc		30,529
	255,769		Curtiss-Wright Corp		8,729
	91,286	*	Customers Ltd		267
	163,403	*,e	Cymer, Inc		6,350
	129,500	e	Daifuku Co Ltd		867
	37,000		Daihatsu Diesel Manufacturing Co Ltd		182
	203,203	e	Daikin Industries Ltd		7,312

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,690	e	Danieli & Co S.p.A.	$	1,369
	132,718		Danieli & Co S.p.A. (RSP)		1,778
	17,498		Datalogic S.p.A.		114
	1,475,949		Deere & Co		63,349
	7,035,564	*	Dell, Inc		107,364
	1,952,964		Delta Electronics, Inc		5,559
	64,601	e	Deutz AG.		329
	287,565		Diebold, Inc		9,470
	24,800	e	Disco Corp		1,652
	238,343	e	Donaldson Co, Inc		8,254
	227,200		Dongfang Electric Co Ltd		1,146
	89,410		Doosan Infracore Co Ltd		1,294
	1,515,309		Dover Corp		58,734
	527,056	*	Dresser-Rand Group, Inc		16,376
	144,079	*	Dril-Quip, Inc		7,152
	17,704		Duerr AG.		334
	24,000		Eagle Industry Co Ltd		126
	618,000	e	Ebara Corp		2,719
	388,512	e	Electrolux AB (Series B)		8,889
	11,293,095	*	EMC Corp		192,435
	4,515,703		Emerson Electric Co		180,990
	412,332	*	Emulex Corp		4,243
	224,323	*	Ener1, Inc		1,552
	51,443		Enerflex Systems, Income Fund		481
	131,630	*,e	ENGlobal Corp		542
	122,895	*,e	EnPro Industries, Inc		2,809
	715,634	*	Entegris, Inc		3,542
	4,491		Envitec Biogas AG.		115
	30,127	*	Eurotech S.p.A.		140
	1,693		Exel Industries		73
	499,122	*,e	Extreme Networks, Inc		1,398
	176,191	e	Fanuc Ltd		15,801
	186,829		Fenner PLC		441
	18,600	e	Ferrotec		262
	1,993,851		Firich Enterprises Co Ltd		4,745
	87,693	*,e	Flanders Corp		452
	186,244	*,e	Flow International Corp		482
	333,422		Flowserve Corp		32,855
	497,762	*,e	FMC Technologies, Inc		26,003
	96,079	*,e	Fuel Tech, Inc		1,076
	39,200		Fuji Machine Manufacturing Co Ltd		463
	609,418		FUJIFILM Holdings Corp		18,263
	18,100		Fujimi, Inc		324
	303,000		Furukawa Co Ltd		425
	486,424	*	Gardner Denver, Inc		16,966
	476,000		GEA Group AG.		9,933

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,232		Gesco AG.	$	187
	74,793		Gildemeister AG.		1,043
	64,500	e	Glory Ltd		1,584
	429,106	*	GMR Infrastructure Ltd		1,252
	67,564	e	Gorman-Rupp Co		1,683
	184,674	e	Graco, Inc		5,147
	63,756	e	Graham Corp		991
	727	*	Grupo Empresarial San Jose		11
	976		Gurit Holding AG.		634
	38,004		Hanjin Heavy Industries & Construction Co Ltd		764
	85,768	*	Harbin Electric, Inc		1,448
	1,074,000	e	Harbin Power Equipment		1,014
	34	e	Harmonic Drive Systems, Inc		91
	66,743	e	Heidelberger Druckmaschinen		692
	16,389,317		Hewlett-Packard Co		773,741
	418,172	e	Hitachi Construction Machinery Co Ltd		8,977
	52,600	e	Hitachi Koki Co Ltd		592
	72,000		Hitachi Kokusai Electric, Inc		560
	967,000	*	Hitachi Zosen Corp		1,228
	8,610		Homag Group AG.		112
	86,000		Hosokawa Micron Corp		355
	34,611	*,e	Hurco Cos, Inc		591
	429,633	e	Husqvarna AB (B Shares)		2,983
	251,797	e	IDEX Corp		7,038
	698,679		IMI PLC		4,998
	142,963	*	Immersion Corp		612
	9,113		Industria Macchine Automatiche S.p.A.		167
	33,114	e	Ingenico		921
	318,855		Ingersoll-Rand PLC		9,779
	303,985	*	Intermec, Inc		4,286
	7,179,153		International Business Machines Corp		858,699
	2,131,762		International Game Technology		45,790
	57,508		Interpump Group S.p.A.		368
	548		Interroll Holding AG.		159
	105,620	*,e	Intevac, Inc		1,420
	4,015,530		Inventec Co Ltd		2,323
	196,000	*,e	Iseki & Co Ltd		788
	4,829,092	*	Ishikawajima-Harima Heavy Industries Co Ltd		9,791
	125,319	*,e	Isilon Systems, Inc		764
	106,392	e	Itochu Techno-Science Corp		3,277
	1,504,196	e	ITT Industries, Inc		78,445
	1,181,593		Jabil Circuit, Inc		15,845
	702,291	e	Japan Steel Works Ltd		8,074
	156,700	e	John Bean Technologies Corp		2,847
	2,457,225	e	Johnson Controls, Inc		62,808
	1,359,835	e	Joy Global, Inc		66,551

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	89,850		JSW Steel Ltd	$	1,555
	203,000	e	Juki Corp		237
	17,104		Jungheinrich AG.		344
	73,653	*,e	Kadant, Inc		893
	950,000	e	Kato Works Co Ltd		2,064
	168,000	*,e	Kayaba Industry Co Ltd		597
	172,953	e	Kaydon Corp		5,607
	101,945		KCI Konecranes Oyj		2,906
	51,400	*,e	Keihin Corp		852
	253,130		Kennametal, Inc		6,230
	9,564		Kerself S.p.A		132
	14,963		Koenig & Bauer AG.		279
	1,571,473		Komatsu Ltd		29,446
	3,124	e	Komax Holding AG		234
	102,500	e	Komori Corp		1,245
	254,693		Kone Oyj (Class B)		9,362
	1,848,821		Konica Minolta Holdings, Inc		17,527
	16,887	e	Krones AG.		898
	118,000		KS Energy Services Ltd		102
	824,159	e	Kubota Corp		6,858
	22,748	e	KUKA AG.		345
	427,931	*,e	Kulicke & Soffa Industries, Inc		2,580
	205,777		Kumba Iron Ore Ltd		6,793
	86,575	e	Kurita Water Industries Ltd		3,106
	383,221	*,e	Lam Research Corp		13,091
	307,517		Larsen & Toubro Ltd		10,798
	257,693	e	Lennox International, Inc		9,308
	5,346,000		Lenovo Group Ltd		2,380
	238,453	*,e	Lexmark International, Inc (Class A)		5,136
	61,617	e	Lindsay Manufacturing Co		2,426
	2,905,125		Lite-On Technology Corp		3,809
	24,035	*,e	Logitech International S.A.		438
	75,004		Lufkin Industries, Inc		3,989
	157,000		Makino Milling Machine Co Ltd		605
	166,867		Makita Corp		5,298
	12,125		Manitou BF S.A.		198
	394,841	e	Manitowoc Co, Inc		3,739
	8,500		Mars Engineering Corp		313
	38,000		Max Co Ltd		396
	16,100		Melco Holdings, Inc		287
	544,395		Melrose plc		1,610
	75,854	e	Met-Pro Corp		735
	75,403		Micron Machinery Co Ltd		865
	431,646	*	Micros Systems, Inc		13,031
	982,554		Micro-Star International Co Ltd		643
	80,051	*,e	Middleby Corp		4,404

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	130	*	MidgardXXI, Inc	$	0	^
	1,057,622		Mitac International		462
	3,886,063	e	Mitsubishi Heavy Industries Ltd		14,719
	165,000	e	Mitsubishi Kakoki Kaisha Ltd		461
	186,745		Modine Manufacturing Co		1,731
	92,600	e	Mori Seiki Co Ltd		1,113
	32,259		Nacco Industries, Inc (Class A)		1,938
	210,000	e	Nachi-Fujikoshi Corp		475
	109,176	*	NATCO Group, Inc (Class A)		4,834
	60,462	*,e	Natural Gas Services Group, Inc		1,065
	308,207	*,e	Netezza Corp		3,464
	214,329	*,e	Netgear, Inc		3,933
	51,000		Nidec Sankyo Corp		289
	83,000	*,e	Nippon Thompson Co Ltd		471
	12,800		Nitto Kohki Co Ltd		258
	32,156	*	Nordex AG.		561
	170,993	e	Nordson Corp		9,591
	42,100	e	Noritz Corp		564
	2,170,527	e	Northrop Grumman Corp		112,326
	613,638	*,e	NTN Corp		2,543
	6,047	*,e	OC Oerlikon Corp AG.		493
	148,887	e	OCE NV		964
	162,026	*	Oil States International, Inc		5,692
	32,300		Oiles Corp		553
	1,062,000	*,e	Oki Electric Industry Co Ltd		946
	229,000		Okuma Holdings, Inc		1,153
	4,074	e	Omega Flex, Inc		68
	6,164		ONA S.A.		1,033
	46,000	e	Organo Corp		350
	87,000	e	OSG Corp		894
	64,685	e	Outotec Oyj		2,058
	13,368		Palfinger AG.		346
	356,557		Pall Corp		11,510
	2,159,095	*,e	Palm, Inc		37,633
	37,804	*,e	PAR Technology Corp		241
	82,356		Pason Systems, Inc		958
	10,666		Pfeiffer Vacuum Technology AG.		876
	27,741	e	Pinguely-Haulotte		286
	945,379	e	Pitney Bowes, Inc		23,493
	71,975	*,e	PMFG, Inc		926
	40,937		Primoris Services Corp		295
	1,248,898		PTT Aromatics & Refining PCL		912
	1,079,290	*,e	Quantum Corp		1,360
	4,131		R Stahl AG.		106
	161,541	*,e	Rackable Systems, Inc		1,084
	3,646	e	Rational AG.		511

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	2,727,430		Raytheon Co	$	130,836
	104,613	*,e	RBC Bearings, Inc		2,441
	436,395		Realtek Semiconductor Corp		1,018
	376,415		Rheinmetall AG.		22,286
	54,676	*,e	Rimage Corp		934
	31,900		Riso Kagaku Corp		399
	333,304	*,e	Riverbed Technology, Inc		7,319
	166,136		Robbins & Myers, Inc		3,901
	10,500	e	Roland DG Corp		151
	101,963	*,e	Safeguard Scientifics, Inc		1,119
	1,852,310	*	SanDisk Corp		40,195
	331,854	e	Sandvik AB		3,665
	15,113		Sartorius AG.		270
	101,136	e	Sauer-Danfoss, Inc		776
	184,268	*,e	Scansource, Inc		5,218
	43,542		Schindler Holding AG. (Reg)		3,067
	234,680		Schindler Holding AG.		16,090
	11,973	e	Schoeller-Bleckmann Oilfield Equipment AG.		574
	10,695		Schulthess Group		638
	193,729	*	Scientific Games Corp (Class A)		3,067
	2,248,852	e	Seagate Technology, Inc		34,205
	19,026	e	Seiko Epson Corp		285
	113,304	*	Semitool, Inc		957
	101,020		Service Point Solutions S.A.		194
	562,210	*	Sevan Marine ASA		872
	6,745,692		Shanghai Electric Group Co Ltd		3,255
	1,172,411		Shanghai Zhenhua Port Machinery Co		920
	84,666		ShawCor Ltd		2,290
	29,000	e	Shibaura Mechatronics Corp		92
	31,300	e	Shima Seiki Manufacturing Ltd		727
	103,000	e	Shinko Electric Co Ltd		283
	349,590		Shinmaywa Industries Ltd		1,371
	131,263	*,e	Sigma Designs, Inc		1,907
	37,937	*,e	Singulus Technologies		136
	75,500		Sintokogio Ltd		575
	1,283,842	e	SKF AB (B Shares)		20,165
	61,673	e	SMC Corp		7,585
	45,700	*	Sodick Co Ltd		103
	70,058	e	Solarworld AG.		1,702
	543,673	e	SPX Corp		33,311
	82,028		Standex International Corp		1,627
	64,200	e	Star Micronics Co Ltd		597
	123,713	*,e	STEC, Inc		3,636
	44,337		Sulzer AG.		3,829
	626,561	*	Sumitomo Heavy Industries Ltd		3,057
	156,474	*,e	Super Micro Computer, Inc		1,324

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	12,080,000	*	Superb Summit International Timber Co Ltd	$	56
	552,204		Swisslog Holding AG.		501
	1,264,867		Synnex Technology International Corp		2,695
	2,344,653		T RAD Co Ltd		6,034
	67,006	*	T-3 Energy Services, Inc		1,320
	576,186	e	Tadano Ltd		2,837
	8,971		Taewoong Co Ltd		576
	11,300		Takeuchi Manufacturing Co Ltd		113
	2,565,315	e	Tat Hong Holdings Ltd		1,912
	1,438,500	e	Techtronic Industries Co		1,193
	103,333	*,e	Tecumseh Products Co (Class A)		1,171
	20,900		Teikoku Piston Ring Co Ltd		99
	140,921		Tennant Co		4,095
	1,309,546	*	Teradata Corp		36,039
	703,826	*	Terex Corp		14,590
	2,960,977	e	Textron, Inc		56,200
	779,108		Timken Co		18,255
	242,406		Tokyo Electron Ltd		15,474
	59,000	e	Tokyo Kikai Seisakusho Ltd		100
	38,700	e	Tokyo Seimitsu Co Ltd		521
	85,800		Topre Corp		799
	27,200	e	Torishima Pump Manufacturing Co Ltd		445
	162,134	e	Toro Co		6,448
	6,373,388	e	Toshiba Corp		33,441
	218,000	e	Toshiba Machine Co Ltd		804
	595,932	*	Toyota Tsusho Corp		8,989
	242,000	e	Tsubakimoto Chain Co		989
	54,000		Tsugami Corp		103
	4,196,745		Tutt Bryant Group Ltd		2,851
	62,005		Twin Disc, Inc		773
	1,531,244		Tyco International Ltd		52,797
	110,564	*	Ultratech, Inc		1,463
	12,300	e	Union Tool Co		393
	496,727	*,e	Varian Medical Systems, Inc		20,927
	454,425	*,e	VeriFone Holdings, Inc		7,221
	743,294	*	Verigy Ltd		8,637
	26,106	*,e	Vestas Wind Systems AS		1,887
	26,243		Wacker Construction Equipment AG.		320
	1,064	e	Wacom Co Ltd		2,535
	1,007		Walter Meier AG.		87
	265,065	e	Wartsila Oyj (B Shares)		10,620
	134,961	e	Watsco, Inc		7,276
	334,853		Weir Group plc		3,626
	1,852,854	*	Western Digital Corp		67,686
	52,956		Wincor Nixdorf AG.		3,410
	2,600,588		Wistron Corp		4,837

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	299,447	e	Woodward Governor Co	$	7,265
	85,500	e	Yamatake Corp		1,924
	154,288	e	Yokogawa Electric Corp		1,366
	10,500		Yushin Precision Equipment Co Ltd		183
	17,802		Zardoya Otis S.A.		386
	186,198	*,e	Zebra Technologies Corp (Class A)		4,828
	261		Zehnder Group AG.		295
			TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		4,794,812
INSTRUMENTS AND RELATED PRODUCTS - 2.55%
	110,079	*,e	Abaxis, Inc		2,945
	156,437	*,e	Abiomed, Inc		1,519
	192,394	*,e	Accuray, Inc		1,251
	288,861	e	Advantest Corp		8,013
	535,473	*	Affymetrix, Inc		4,701
	180,591	*	AGFA-Gevaert NV		994
	1,193,299	*,e	Agilent Technologies, Inc		33,210
	45,060		Alcon, Inc		6,248
	331,985	*,e	Align Technology, Inc		4,721
	1,269,742		Allergan, Inc		72,071
	16,700		Aloka Co Ltd		162
	154,822	*	Alphatec Holdings, Inc		712
	488,293	*,e	American Medical Systems Holdings, Inc		8,262
	68,360	e	American Science & Engineering, Inc		4,651
	175,765	e	Amplifon S.p.A.		707
	62,868	e	Analogic Corp		2,327
	66,742	*	Anaren, Inc		1,135
	119,774	*,e	Angiodynamics, Inc		1,650
	103,000		Anritsu Corp		352
	65,373	*	Argon ST, Inc		1,245
	83,091	*,e	Aspect Medical Systems, Inc		995
	7,436	e	Atrion Corp		1,074
	263,220	*,e	ATS Medical, Inc		705
	5,051		Audika		157
	81,719	e	Badger Meter, Inc		3,162
	581,045		Bard (C.R.), Inc		45,676
	3,946,849		Baxter International, Inc		225,010
	17,199,208	*	BB BIOVENTURES L.P.		1,813
	319,651		Beckman Coulter, Inc		22,037
	1,326,996		Becton Dickinson & Co		92,558
	77,885	*	Bio-Rad Laboratories, Inc (Class A)		7,156
	737,000	*,e	Biosensors International Group Ltd		324
	17,920,889	*	Boston Scientific Corp		189,782
	83,776	*,e	Bovie Medical Corp		658
	815,226	*	Bruker BioSciences Corp		8,698
	115,452	*,e	Cantel Medical Corp		1,739

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	131,742	*,e	Cardiac Science Corp	$	527
	119,731	*,e	CardioNet, Inc		805
	656,566	*	CareFusion Corp		14,313
	291,374	*,e	Cepheid, Inc		3,852
	152,222	*,e	Clarient, Inc		641
	185,376	e	Cochlear Ltd		10,918
	119,316	*,e	Coherent, Inc		2,782
	130,752		Cohu, Inc		1,773
	2,921		Coloplast AS (Class B)		244
	105,259	e	Compagnie Generale d’Optique Essilor International S.A.		5,999
	165,104	*,e	Conmed Corp		3,165
	41,344		Consort Medical plc		287
	145,063	e	Cooper Cos, Inc		4,313
	66,333	*,e	Cutera, Inc		574
	208,351	*,e	Cyberonics, Inc		3,321
	50,711	*,e	Cynosure, Inc (Class A)		591
	1,833,679		Danaher Corp		123,443
	113,070	*,e	Delcath Systems, Inc		555
	457,580	e	Dentsply International, Inc		15,805
	384,639	*,e	Depomed, Inc		1,681
	227,585	*,e	DexCom, Inc		1,805
	111,775	*,e	Dionex Corp		7,262
	13,566		Draegerwerk AG.		520
	53,270	*,e	DXP Enterprises, Inc		594
	1,546,951	e	Eastman Kodak Co		7,394
	99,471	*,e	Electro-Optical Sciences, Inc		953
	124,748	e	Elekta AB (B Shares)		2,416
	239,805	*	Endologix, Inc		1,484
	547,539	*,e	EnteroMedics, Inc		2,623
	129,401	*,e	ESCO Technologies, Inc		5,098
	177,049	*	Esterline Technologies Corp		6,942
	388,235	*	ev3, Inc		4,779
	39,681	*,e	Exactech, Inc		625
	23,863	*	Exfo Electro Optical Engineering, Inc		84
	82,968	*,e	FARO Technologies, Inc		1,425
	186,148	*	FEI Co		4,589
	69,606	*,e	FGX International Holdings Ltd		971
	751,268	e	Finmeccanica S.p.A.		13,280
	1,123,108	*,e	Flir Systems, Inc		31,413
	244,265	*,e	Formfactor, Inc		5,843
	293,234	*,e	Fossil, Inc		8,343
	184,949		Fresenius AG (Preference)		10,823
	15,334		Fresenius SE		754
	36,300		Furuno Electric Co Ltd		205
	1,050,868	e	Garmin Ltd		39,660
	156,903	e	Getinge AB (B Shares)		2,633

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,884,212	*,e	Golden Meditech Co Ltd	$	2,128
	1,291		Guerbet		204
	165,696	*	Haemonetics Corp		9,299
	120,881		Hamworthy plc		509
	144,959	*	Hanger Orthopedic Group, Inc		2,011
	121,943	*	Harvard Bioscience, Inc		462
	77,466	*	Herley Industries, Inc		1,011
	209,276	e	Hexagon AB (B Shares)		2,499
	194,239		Hillenbrand, Inc		3,957
	7,000		Hioki EE Corp		133
	14,000		Hitachi Medical Corp		133
	42,000		Hogy Medical Co Ltd		2,353
	795,856	*,e	Hologic, Inc		13,004
	61,005	*,e	Home Diagnostics, Inc		412
	36,400	e	Horiba Ltd		945
	82,339	*	ICU Medical, Inc		3,035
	74,269	*,e	ICx Technologies, Inc		440
	161,353	*,e	I-Flow Corp		1,838
	122,025	*,e	II-VI, Inc		3,104
	501,665	*,e	Illumina, Inc		21,321
	3,023		Inficon Holding AG.		366
	127,411	*,e	Insulet Corp		1,431
	92,297	*	Integra LifeSciences Holdings Corp		3,152
	206,239	*	Intuitive Surgical, Inc		54,086
	241,458	e	Invacare Corp		5,380
	972,812	e	Invensys plc		4,526
	637,369	*,e	ION Geophysical Corp		2,244
	130,575	*,e	IRIS International, Inc		1,475
	185,241	*	ISTA Pharmaceuticals, Inc		826
	149,398	*,e	Itron, Inc		9,582
	171,246	*,e	Ixia		1,175
	38,938	*	Jenoptik AG.		208
	68,000	*,e	Jeol Ltd		305
	121,026		Kaba Holding AG.		29,664
	38,205	*,e	Kensey Nash Corp		1,106
	35,050	e	Keyence Corp		7,489
	517,551	e	Kla-Tencor Corp		18,559
	408,464	*	Kopin Corp		1,961
	13,642	*,e	K-Tron International, Inc		1,299
	69,019	*,e	KVH Industries, Inc		689
	372,934	*,e	L-1 Identity Solutions, Inc		2,607
	67,630	*,e	LaBarge, Inc		761
	141,355		Largan Precision Co Ltd		1,856
	430,312		LG.Philips LCD Co Ltd		12,381
	10,273	*,e	LifeWatch AG.		208
	101,682		Luxottica Group S.p.A.		2,634

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,770	*	Lydall, Inc	$	9
	81,632	*,e	MAKO Surgical Corp		715
	3,100		Mani, Inc		229
	249,230	*,e	Masimo Corp		6,530
	81,659	*,e	Measurement Specialties, Inc		834
	102,658	*,e	Medical Action Industries, Inc		1,239
	6,713,243		Medtronic, Inc		247,047
	135,476	*	Merit Medical Systems, Inc		2,348
	136,880	*,e	Mettler-Toledo International, Inc		12,400
	27,300	e	Micronics Japan Co Ltd		486
	78,393	*,e	Micrus Endovascular Corp		1,015
	304,606	*	Millipore Corp		21,423
	138,384	e	Mine Safety Appliances Co		3,807
	271,091	*,e	MKS Instruments, Inc		5,229
	84,493	e	Movado Group, Inc		1,228
	22,167,242	*,a	MPM Bioventures II		9,297
	97,519		MTS Systems Corp		2,849
	5,100		Nakanishi, Inc		449
	171,711	e	National Instruments Corp		4,744
	143,030	*	Natus Medical, Inc		2,207
	64,684	*,e	Neogen Corp		2,089
	223,713	*,e	Newport Corp		1,960
	37,201		Nice S.p.A.		161
	30,900		Nidec Copal Corp		420
	39,100	e	Nihon Kohden Corp		653
	47,000		Nikkiso Co Ltd		408
	360,990	e	Nikon Corp		6,603
	798,485		Nippon Electric Glass Co Ltd		7,285
	295,200		Nippon Signal Co Ltd		2,835
	76,000	e	Nipro Corp		1,778
	97,040		Nobel Biocare Holding AG.		3,212
	33,900		Noritsu Koki Co Ltd		304
	473,791	*,e	NuVasive, Inc		19,786
	106,769	*,e	NxStage Medical, Inc		714
	39,800		ODIM ASA		224
	8,200	*,e	Ohara, Inc		134
	87,236	*,e	Olympus Corp		2,313
	132,977	*,e	Orthofix International NV		3,908
	323,682	*,e	Orthovita, Inc		1,421
	27,000	e	Osaki Electric Co Ltd		309
	18,727	*,e	OYO Geospace Corp		484
	92,520	*,e	Palomar Medical Technologies, Inc		1,500
	402,000	*,e,m	Peace Mark Holdings Ltd		78
	2,122,833		PerkinElmer, Inc		40,843
	452,333	e	Phonak Holding AG.		45,613
	224,124	*,e	Qiagen NV		4,756

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	128,571		Q-Med AB	$	756
	77,746	*,e	RAE Systems, Inc		86
	42,062		Renishaw PLC		372
	308,943	*,e	Resmed, Inc		13,964
	200,015	*,e	ResMed, Inc (ADR)		916
	49,263	*,e	Rochester Medical Corp		593
	430,298	e	Rockwell Automation, Inc		18,331
	686,965		Rockwell Collins, Inc		34,898
	71,762	*,e	Rockwell Medical Technologies, Inc		558
	142,437	*,e	Rofin-Sinar Technologies, Inc		3,270
	316,792		Roper Industries, Inc		16,150
	13,277	*	Roth & Rau AG.		506
	160,500	*	Rudolph Technologies, Inc		1,188
	6,096	e	SAES Getters S.p.A.		65
	15,625		SAES Getters S.p.A. RSP		136
	170,879	e	Safilo Group S.p.A.		150
	99,135	e	Safran S.A.		1,858
	46,467		Samsung Techwin Co Ltd		3,683
	75,000	*,e	Seiko Holdings Corp		188
	159,997	e	Shimadzu Corp		1,159
	120,970	*,e	Sirona Dental Systems, Inc		3,599
	4,254,176	*,a	Skyline Venture Fund II Ltd		1,076
	961,029	*	Skyline Venture Fund III Ltd		419
	118,971		Smith & Nephew plc		1,066
	60,268	*,e	Somanetics Corp		972
	3,360	*,e	Sonic Solutions, Inc		20
	84,015	*,e	SonoSite, Inc		2,223
	251,438	*	Sorin S.p.A.		423
	181,713	*,e	Spectranetics Corp		1,165
	139,506	e	Spectris plc		1,575
	6,321		Sperian Protection		485
	88,333		Spirax-Sarco Engineering PLC		1,475
	1,251,549		Spirent Communications plc		1,745
	1,361,866	*	St. Jude Medical, Inc		53,126
	347,482	*,e	Star Scientific, Inc		323
	148,050	*,e	Stereotaxis, Inc		660
	362,041	e	STERIS Corp		11,024
	7,329		Stratec Biomedical Systems		228
	2,897	e	Straumann Holding AG.		750
	2,046,202		Stryker Corp		92,959
	90,000		Swatch Group AG.		21,199
	6,665		Swatch Group AG. Reg		303
	310,528	*,e	Symmetry Medical, Inc		3,220
	57,864	*	Synovis Life Technologies, Inc		799
	14,590		Synthes, Inc		1,758
	61,900	e	Sysmex Corp		2,676

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,100	e	Tamron Co Ltd	$	215
	201,664		Techne Corp		12,614
	196,699	*	Teledyne Technologies, Inc		7,079
	526,505	*,e	Teradyne, Inc		4,870
	194,260		Terumo Corp		10,691
	5,580	*	Theragenics		9
	1,805,182	*	Thermo Electron Corp		78,832
	330,565	*,e	Thoratec Corp		10,006
	175,286	*,e	TomTom NV		3,006
	59,500	e	Topcon Corp		273
	71,424	*,e	Trans1, Inc		344
	362,499	*,e	Trimble Navigation Ltd		8,667
	73,960	e	Ultra Electronics Holdings		1,582
	14,879	e	Utah Medical Products, Inc		436
	180,463	*	Varian, Inc		9,214
	80,650	*,e	Vascular Solutions, Inc		667
	237,049	*,e	Veeco Instruments, Inc		5,528
	78,394	*,e	Vital Images, Inc		981
	389,289	*,e	Vivus, Inc		4,068
	287,313	*,e	Volcano Corp		4,833
	504,416	*	Waters Corp		28,177
	26,542	*	William Demant Holding		1,972
	191,978	*,e	Wright Medical Group, Inc		3,429
	4,018,772		Xerox Corp		31,105
	44,068	*,e	X-Rite, Inc		89
	27,174		Young Innovations, Inc		715
	932,576	*	Zimmer Holdings, Inc		49,846
	159,489	*	Zoll Medical Corp		3,432
	89,930	*,e	Zygo Corp		610
			TOTAL INSTRUMENTS AND RELATED PRODUCTS		2,412,556
INSURANCE AGENTS, BROKERS AND SERVICE - 0.28%
	1,407,952		AON Corp		57,291
	23,148	e	April Group		976
	378,453	e	Arthur J. Gallagher & Co		9,223
	932,187		Brown & Brown, Inc		17,861
	166,553	*,e	Crawford & Co (Class B)		734
	44,898		Grupo Catalana Occidente S.A.		1,100
	1,009,646		Hartford Financial Services Group, Inc		26,756
	201,777	e	Jardine Lloyd Thompson Group plc		1,566
	52,170	e	Life Partners Holdings, Inc		934
	2,118,285		Marsh & McLennan Cos, Inc		52,385
	1,162,299		Millea Holdings, Inc		33,665
	51,887	e	MLP AG.		602
	18,060		Morneau Sobeco Income Fund		150
	250,813	*,e	National Financial Partners Corp		2,187

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,412,178		QBE Insurance Group Ltd	$	51,200
	588,767	e	Unipol Gruppo Finanziario S.p.A.		893
	24,368		White Mountains Insurance Group Ltd		7,481
			TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		265,004
INSURANCE CARRIERS - 3.61%
	1,998,412		ACE Ltd		106,836
	65,808		Aditya Birla Nuvo Ltd		1,303
	5,495,162		Admiral Group plc		101,609
	1,366,432	*	Aegon NV		11,599
	2,232,959	e	Aetna, Inc		62,143
	4,250,893		Aflac, Inc		181,684
	361,000		Aioi Insurance Co Ltd		1,842
	170,201		Aksigorta AS		608
	93,277		Alleanza Assicurazioni S.p.A		842
	17,122	*	Alleghany Corp		4,435
	295,891		Allianz AG.		36,965
	405,541		Allied World Assurance Holdings Ltd		19,438
	1,902,353		Allstate Corp		58,250
	15,480	*	Alm Brand AS		367
	1,571,037	e	Ambac Financial Group, Inc		2,639
	40,100	*,e	American Caresource Holdings, Inc		175
	323,999	e	American Equity Investment Life Holding Co		2,274
	1,136,718		American Financial Group, Inc		28,986
	347,955	e	American International Group, Inc		15,348
	50,982	e	American National Insurance Co		4,344
	48,871	e	American Physicians Capital, Inc		1,408
	29,851	e	American Physicians Service Group, Inc		688
	63,623	*,e	American Safety Insurance Holdings Ltd		1,005
	370,232	*	AMERIGROUP Corp		8,208
	107,360	*	Amerisafe, Inc		1,852
	674,425	e	Amlin plc		4,133
	3,313,563		AMP Ltd		19,059
	125,777		Amtrust Financial Services, Inc		1,435
	441,980	*	Arch Capital Group Ltd		29,851
	182,155	*	Argo Group International Holdings Ltd		6,135
	617,374		Aspen Insurance Holdings Ltd		16,342
	245,479		Assicurazioni Generali S.p.A.		6,728
	638,728		Assurant, Inc		20,478
	559,133		Assured Guaranty Ltd		10,858
	4,594,327		Aviva plc		32,901
	758,781		AXA Asia Pacific Holdings Ltd		2,925
	1,927,725		AXA S.A.		52,187
	2,537,638		Axis Capital Holdings Ltd		76,586
	47,018	e	Baldwin & Lyons, Inc (Class B)		1,103
	115,394		Baloise Holding AG.		11,024

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,176,404		Beazley plc	$	2,218
	478,208		Brit Insurance Holdings plc		1,558
	243,004	*	Catalyst Health Solutions, Inc		7,084
	466,502	e	Catlin Group Ltd		2,620
	321,971	*	Centene Corp		6,098
	657,052		Chaucer Holdings PLC		507
	108,499		Chesnara plc		293
	893,308	*,e	China Insurance International Holdings Co Ltd		2,392
	11,244,119	e	China Life Insurance Co Ltd		48,966
	1,614,048		Chubb Corp		81,364
	1,438,887		Cigna Corp		40,418
	513,190	e	Cincinnati Financial Corp		13,338
	179,784	*,e	Citizens, Inc (Class A)		1,140
	84,183	e	CNA Financial Corp		2,032
	85,392	*	CNA Surety Corp		1,383
	126,243		CNP Assurances		12,863
	1,032,557	*,e	Conseco, Inc		5,431
	220,618	e	Corp Mapfre S.A.		987
	265,774		Delphi Financial Group, Inc (Class A)		6,014
	465,699		Discovery Holdings Ltd		1,810
	69,290	e	Donegal Group, Inc (Class A)		1,070
	91,747		Dongbu Insurance Co Ltd		2,815
	35,560	e	Eastern Insurance Holdings, Inc		339
	35,483	e	EMC Insurance Group, Inc		750
	260,812	e	Employers Holdings, Inc		4,037
	232,503	e	Endurance Specialty Holdings Ltd		8,479
	79,435	*	Enstar Group Ltd		4,946
	104,491	e	Erie Indemnity Co (Class A)		3,914
	19,265		Euler Hermes S.A.		1,652
	261,524		Everest Re Group Ltd		22,936
	47,549	e	Fairfax Financial Holdings Ltd		17,664
	23,117		FBD Holdings plc		257
	76,288	e	FBL Financial Group, Inc (Class A)		1,482
	716,076		Fidelity National Title Group, Inc (Class A)		10,798
	138,746	*,e	First Acceptance Corp		375
	287,424	e	First American Corp		9,304
	112,786		First Mercury Financial Corp		1,502
	198,429		Flagstone Reinsurance Holdings Ltd		2,238
	14,395	e	Fondiaria-Sai S.p.A		303
	40,752	*	Fpic Insurance Group, Inc		1,367
	517,250		Friends Provident Group plc		688
	436,000	e	Fuji Fire & Marine Insurance Co Ltd		515
	2,198,894		Genworth Financial, Inc (Class A)		26,277
	353,181	e	Great-West Lifeco, Inc		8,761
	139,136	*,e	Greenlight Capital Re Ltd (Class A)		2,616
	62,787	*	Hallmark Financial Services		505

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	107,061	*	Hannover Rueckversicherung AG.	$	4,908
	189,136		Hanover Insurance Group, Inc		7,817
	87,469	e	Harleysville Group, Inc		2,768
	673,298		HCC Insurance Holdings, Inc		18,415
	320,690	*	Health Net, Inc		4,939
	290,331	*	Healthspring, Inc		3,557
	8,903		Helvetia Holding AG.		2,990
	491,399		Hiscox Ltd		2,705
	241,608		Horace Mann Educators Corp		3,375
	47,000	*	Hulic Co Ltd		348
	1,077,862	*,e	Humana, Inc		40,204
	30,032	e	Independence Holding Co		177
	117,494		Industrial Alliance Insurance and Financial Services, Inc		3,217
	91,134		Infinity Property & Casualty Corp		3,871
	107,619		ING Canada, Inc		3,406
	2,279,762	e	Insurance Australia Group Ltd		7,602
	397,328	*	Irish Life & Permanent plc		3,268
	127,918		Just Retirement plc		153
	26,056	e	Kansas City Life Insurance Co		811
	62,519	*	KBC Groep NV		3,140
	58,861		Kingsway Financial Services, Inc		251
	702,025	*,e	Leucadia National Corp		17,354
	140,682		Liberty Holdings Ltd		1,273
	1,311,585		Lincoln National Corp		33,983
	1,203,356		Loews Corp		41,215
	316,291		Maiden Holdings Ltd		2,299
	2,506,436	e	Manulife Financial Corp		52,673
	30,223	*,e	Markel Corp		9,968
	670,858		Max Re Capital Ltd		14,336
	399,300	*,e	MBIA, Inc		3,099
	344,322		Meadowbrook Insurance Group, Inc		2,548
	291,249	e	Mediolanum S.p.A.		2,027
	26,677	e	Mercer Insurance Group, Inc		482
	81,051	e	Mercury General Corp		2,932
	2,615,637		Metlife, Inc		99,577
	196,824	*,e	Metropolitan Health Networks, Inc		429
	706,238	*,e	MGIC Investment Corp		5,233
	238,361		Milano Assicurazioni S.p.A.		844
	32,863		Milano Assicurazioni S.p.A. (RSP)		116
	932,000	*	Ming An Holdings Co Ltd		241
	692,968		Mitsui Sumitomo Insurance Group Holdings, Inc		19,107
	82,123	*,e	Molina Healthcare, Inc		1,699
	456,161	e	Montpelier Re Holdings Ltd		7,445
	647,249	e	Muenchener Rueckver AG.		103,268
	31,023	e	National Interstate Corp		543
	11,818	e	National Western Life Insurance Co (Class A)		2,080

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	71,867	*	Navigators Group, Inc	$	3,953
	1,871,000		Nipponkoa Insurance Co Ltd		11,714
	510,873		Nissay Dowa General Insurance Co Ltd		2,612
	131,302		Novae Group plc		713
	33,230		NYMAGIC, Inc		574
	51,182	e	Odyssey Re Holdings Corp		3,317
	4,630,629		Old Mutual plc		7,400
	793,353		Old Republic International Corp		9,663
	71,779	e	OneBeacon Insurance Group Ltd (Class A)		986
	1,121,000		Pacific Century Regional Developments Ltd		183
	921,922		PartnerRe Ltd		70,933
	643,463	e	Phoenix Cos, Inc		2,091
	3,136,000	*,e	PICC Property & Casualty Co Ltd		2,157
	1,681,000		Ping An Insurance Group Co of China Ltd		13,339
	284,645		Platinum Underwriters Holdings Ltd		10,202
	218,088	*	PMA Capital Corp (Class A)		1,241
	412,664	e	PMI Group, Inc		1,754
	643,372	e	Power Corp Of Canada		17,595
	343,583	e	Power Financial Corp		9,900
	197,399		Premafin Finanziaria S.p.A.		311
	106,789	e	Presidential Life Corp		1,106
	141,166	*,e	Primus Guaranty Ltd		603
	2,536,841		Principal Financial Group		69,484
	175,121	*	ProAssurance Corp		9,140
	3,299,375		Progressive Corp		54,704
	290,536		Protective Life Corp		6,223
	4,178,607		Prudential Financial, Inc		208,555
	6,027,692		Prudential plc		57,943
	459,586		Radian Group, Inc		4,862
	116,430	*,e	RadNet, Inc		302
	224,986	e	Reinsurance Group of America, Inc (Class A)		10,034
	836,881		RenaissanceRe Holdings Ltd		45,828
	92,323	e	RLI Corp		4,873
	4,769,431		Royal & Sun Alliance Insurance Group plc		10,199
	83,452		Safety Insurance Group, Inc		2,747
	451,848		Sampo Oyj (A Shares)		11,379
	48,274		Samsung Fire & Marine Insurance Co Ltd		9,874
	2,883,712		Sanlam Ltd		7,873
	15,238		Schweizerische National-Versicherungs-Gesellschaft		451
	448,178		SCOR		12,251
	132,568	*,e	SeaBright Insurance Holdings, Inc		1,514
	333,532		Selective Insurance Group, Inc		5,246
	226,038	*	SNS Reaal		1,822
	47,503		Societa Cattolica di Assicurazioni SCRL		1,653
	1,627,322		Sompo Japan Insurance, Inc		10,950
	5,221		Sony Financial Holdings, Inc		15,000

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	205,111	e	St. James’s Place plc	$	855
	315,916	e	Stancorp Financial Group, Inc		12,754
	524,142		Standard Life plc		1,834
	96,816		State Auto Financial Corp		1,736
	116,975		Stewart Information Services Corp		1,447
	842,073	e	Storebrand ASA		5,139
	1,114,764		Sun Life Financial, Inc		34,932
	27,077		Swiss Life Holding		3,203
	819,565		Swiss Reinsurance Co		36,996
	247,879	e	T&D Holdings, Inc		6,710
	4,827	*,e	Topdanmark AS		730
	408,596	e	Torchmark Corp		17,745
	204,821	e	Tower Group, Inc		4,996
	176,966		Tower Ltd		213
	287,512		Transatlantic Holdings, Inc		14,424
	3,666,501		Travelers Cos, Inc		180,503
	117,034	*,e	Triple-S Management Corp (Class B)		1,963
	5,494	e	TrygVesta A.S.		420
	218,619	*,e	United America Indemnity Ltd (Class A)		1,616
	132,018		United Fire & Casualty Co		2,363
	6,292,086		UnitedHealth Group, Inc		157,555
	134,584		Unitrin, Inc		2,623
	180,389	*,e	Universal American Financial Corp		1,699
	83,230		Universal Insurance Holdings, Inc		419
	1,669,864	e	UnumProvident Corp		35,802
	633,979		Validus Holdings Ltd		16,357
	21,719		Vittoria Assicurazioni S.p.A.		133
	677,330		W.R. Berkley Corp		17,123
	447,597	*,e	WellCare Health Plans, Inc		11,033
	3,835,868	*	WellPoint, Inc		181,668
	5,341		Wesco Financial Corp		1,738
	99,822	e	Wiener Staedtische Allgemeine Versicherung AG.		5,697
	1,994,478	e	XL Capital Ltd (Class A)		34,824
	210,341	e	Zenith National Insurance Corp		6,500
	37,912		Zurich Financial Services AG.		9,018
			TOTAL INSURANCE CARRIERS		3,411,414
JUSTICE, PUBLIC ORDER AND SAFETY - 0.03%
	69,094	*,e	China Fire & Security Group, Inc		1,327
	739,244	*	Corrections Corp of America		16,743
	258,931	*	Geo Group, Inc		5,223
	3,556,000	*,e	PAN Fish ASA		2,581
			TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		25,874
LEATHER AND LEATHER PRODUCTS - 0.16%
	162,970		Adidas-Salomon AG.		8,626

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	2,165,381		Coach, Inc	$	71,283
	642,317	*	CROCS, Inc		4,271
	127,826	*,e	Genesco, Inc		3,077
	83,128	e	Geox S.p.A.		720
	381,011	*,e	Iconix Brand Group, Inc		4,751
	395,751	e	LVMH Moet Hennessy Louis Vuitton S.A.		39,803
	2,645,814		Pou Chen Corp		1,712
	107,001	*	Steven Madden Ltd		3,939
	243,878	*	Timberland Co (Class A)		3,395
	9,816		Tod’s S.p.A.		671
	34,418	e	Weyco Group, Inc		788
	263,836		Wolverine World Wide, Inc		6,554
	430,078	e	Yue Yuen Industrial Holdings		1,193
			TOTAL LEATHER AND LEATHER PRODUCTS		150,783
LEGAL SERVICES - 0.02%
	442,128	*,e	FTI Consulting, Inc		18,839
	45,251	*,e	Pre-Paid Legal Services, Inc		2,299
			TOTAL LEGAL SERVICES		21,138
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.02%
	287,680	e	Arriva PLC		2,301
	19,499	e	Brisa-Auto Estradas de Portugal S.A.		192
	357,923		ComfortDelgro Corp Ltd		409
	77,156	*	Emergency Medical Services Corp (Class A)		3,588
	66,170		Go-Ahead Group PLC		1,500
	293,964	e	Keihin Electric Express Railway Co Ltd		2,492
	774,625	e	Keisei Electric Railway Co Ltd		5,142
	215,165	e	National Express Group plc		1,644
	871,000		SMRT Corp Ltd		1,039
			TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		18,307
LUMBER AND WOOD PRODUCTS - 0.03%
	59,804	e	American Woodmark Corp		1,157
	14,588		Asian Bamboo AG.		402
	83,000	e	Daiken Corp		221
	51,595	e	Deltic Timber Corp		2,362
	572,520	*,e	Louisiana-Pacific Corp		3,819
	753,013	e	MFI Furniture plc		953
	196,361	e	Nobia AB		1,079
	31,354	e	Pfleiderer AG.		378
	656,185	*	Sino-Forest Corp		10,363
	36,023	e	Skyline Corp		813
	52,382	e	Sonae Industria SGPS S.A.		194
	103,000		Takara Standard Co Ltd		620
	113,054	e	Universal Forest Products, Inc		4,461

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	35,062		West Fraser Timber Co Ltd	$	892
			TOTAL LUMBER AND WOOD PRODUCTS		27,714
METAL MINING - 2.00%
	310,846	e	Aditya Birla Minerals Ltd		351
	139,619		African Rainbow Minerals Ltd		2,788
	180,272	e	Agnico-Eagle Mines Ltd		12,192
	258,170	*	Alamos Gold, Inc		2,271
	280,058	*,e	Allied Nevada Gold Corp		2,742
	399,714	e	Alumina Ltd		645
	406,371	*	Andean Resources Ltd		825
	5,762,605		Anglo American plc		183,547
	117,795		Anglo Platinum Ltd		10,459
	396,412		AngloGold Ashanti Ltd		15,910
	967,403		Antofagasta plc		11,742
	612,314	e	Aquarius Platinum Ltd		2,787
	86,330	*,e	Aquiline Resources, Inc		355
	313,327	*,e	Atlas Iron Ltd		448
	58,894	*	Aura Minerals, Inc		154
	214,897	*,e	Aurizon Mines Ltd		943
	212,859	*	Avoca Resources Ltd		279
	363,274	*	Avocet Mining plc		434
	2,465,608		Barrick Gold Corp		93,447
	1,698,054		Barrick Gold Corp (Canada)		64,297
	5,715,024		BHP Billiton Ltd		190,228
	3,436,953		BHP Billiton plc		93,817
	379,000	e	Boliden AB		4,072
	480,944		Cameco Corp		13,346
	81,214		CAP S.A.		2,093
	209,400	*	Capstone Mining Corp		575
	92,102	*,e	Centerra Gold, Inc		627
	2,247,974	*	Central African Mining & Exploration Co plc		701
	986,563	e	Cleveland-Cliffs, Inc		31,925
	415,635	*,e	Coeur d’Alene Mines Corp		8,521
	2,204,669		Companhia Vale do Rio Doce		51,259
	816,484	e	Companhia Vale do Rio Doce (ADR)		18,885
	2,794,976		Companhia Vale do Rio Doce (Preference)		57,742
	24,801		Compania de Minas Buenaventura S.A.		869
	218,400		Compania de Minas Buenaventura S.A. (ADR) (Series B)		7,690
	161,507	*	Consolidated Thompson Iron Mines Ltd		828
	72,400	*	Corriente Resources, Inc		458
	313,273	*	Crystallex International Corp		80
	539,379	*	Deep Yellow Ltd		157
	358,108	*,e	Denison Mines Corp		666
	47,632	*	Detour Gold Corp		589
	166,308		Dominion Mining Ltd		541

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	874,885	*	Eastern Platinum Ltd	$	474
	305,515	*	ECU Silver Mining, Inc		157
	691,897	*,e	Eldorado Gold Corp		7,858
	495,792	e	Energy Resources of Australia Ltd		11,027
	801,053	*	Equinox Minerals Limited		2,589
	1,487,768		Eurasian Natural Resources Corp		20,840
	210,598	*	European Goldfields Ltd		980
	100,472	*,e	Extract Resources Ltd		807
	264,338		Ferrexpo plc		621
	127,607	e	First Quantum Minerals Ltd		8,343
	112,337	*	FNX Mining Co, Inc		984
	80,152	*	Forsys Metals Corp		273
	253,444		Franco-Nevada Corp		6,649
	2,144,795		Freeport-McMoRan Copper & Gold, Inc (Class B)		147,154
	321,069		Fresnillo plc		3,961
	114,117	*,e	Fronteer Development Group, Inc		492
	258,775	*	GABRIEL RESOURCES LTD		522
	170,672	*	Gammon Gold, Inc		1,460
	537,528	*	Gindalbie Metals Ltd		408
	854,664		Gold Fields Ltd		11,548
	385,000		Gold Fields Ltd (ADR)		5,305
	1,456,929		Goldcorp, Inc		58,487
	315,938	*	Golden Star Resources Ltd		1,077
	356,155	*	GREAT BASIN GOLD LTD		546
	56,742	*	Guyana Goldfields, Inc		225
	540,793		Harmony Gold Mining Co Ltd		5,759
	1,218,013	*	Hecla Mining Co		5,347
	1,271,000	*,e	Hidili Industry International Development Ltd		1,189
	284,907	*	Highland Gold Mining Ltd		360
	114,996		Hochschild Mining plc		575
	247,792	*	HudBay Minerals, Inc		2,986
	638,626		IAMGOLD Corp		9,025
	532,475	*,e	Iluka Resources Ltd		1,870
	708,632		Impala Platinum Holdings Ltd		16,508
	151,998	e	Independence Group NL		610
	163,168		Inmet Mining Corp		9,138
	466,996	*,e	Ivanhoe Mines Ltd		6,002
	655,422	*	Kagara Zinc Ltd		564
	251,804		Kazakhmys plc		4,322
	109,240		Kingsgate Consolidated Ltd		784
	839,905		Kinross Gold Corp		18,302
	56,338	*,e	Kirkland Lake Gold, Inc		484
	19,754		Korea Zinc Co Ltd		2,942
	43,800		Labrador Iron Ore Royalty Income Fund		1,499
	136,400	*,e	Lake Shore Gold Corp		366
	38,846		Lonmin PLC		1,039

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	617,017	*,e	Lundin Mining Corp	$	2,080
	693,477	*	Lynas Corp Ltd		551
	900,710	e	Macmahon Holdings Ltd		544
	39,469	*,e	MAG. Silver Corp		230
	210,965	*	Medusa Mining Ltd		607
	200,000	*	Mega Uranium Ltd		217
	552,590	e	Minara Resources Ltd		470
	391,547	e	Mincor Resources NL		857
	63,097	*,e	Minefinders Corp		619
	92,532		Mineral Resources Ltd		496
	366,585	*,e	Mirabela Nickel Ltd		899
	862,269	*	MMC Norilsk Nickel (ADR)		10,692
	208,052	*	MMC Norilsk Nickel (ADR) (London)		2,601
	999,768	*,e	Mount Gibson Iron Ltd		970
	353,196	*,e	Murchison Metals Ltd		483
	460,241	*,e	New Gold, Inc		1,758
	1,091,240		Newcrest Mining Ltd		30,710
	2,212,933		Newmont Mining Corp		97,413
	75,222	*,e	North American Palladium Ltd		209
	241,533		Northam Platinum Ltd		1,061
	81,863	*	Northern Dynasty Minerals		609
	108,656	*	Northern Iron Ltd		165
	426,558	*	Northgate Minerals Corp		1,151
	166,449	*,e	Novagold Resources, Inc		855
	102,558	f	Novolipetsk Steel (GDR)		2,610
	189,811	e	Nyrstar		2,300
	536,172	e	Orica Ltd		11,116
	265,074	*,e	Osisko Mining Corp		1,971
	1,246,800		Oxiana Ltd		1,254
	1,042,776	*,e	Paladin Resources Ltd		4,140
	113,250	*	PAN American Silver Corp		2,600
	9,895,065	*,e	Pan Australian Resources Ltd		4,277
	325,827	*,e	Paramount Gold and Silver Corp		446
	418,955	*,e	Patriot Coal Corp		4,927
	162,305	e	Peter Hambro Mining PLC		2,349
	261,454	*,e	Platinum Australia Ltd		204
	96,017	*,f	Polymetal (ADR)		759
	79,870		Polyus Gold Co (ADR)		1,822
	86,402	e	Polyus Gold Co (ADR) (London)		1,967
	3,612,000		PT Aneka Tambang Tbk		916
	14,554,900		PT International Nickel Indonesia Tbk		6,250
	118,191	*,e	Quadra Mining Ltd		1,606
	223,719		Quest Capital Corp		238
	58,661	e	Randgold Resources Ltd		4,102
	386,647	*	Red Back Mining, Inc		4,344
	468,189	*,e	Resolute Mining Ltd		258

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	1,356,475	e	Rio Tinto Ltd	$	70,891
	4,975,877		Rio Tinto plc		212,206
	292,235	*	Rosetta Resources, Inc		4,293
	136,821		Royal Gold, Inc		6,239
	351,128		Sally Malay Mining Ltd		774
	445,200	*	SEMAFO, Inc		1,181
	403,232		Sesa Goa Ltd		2,227
	151,284	*,e	ShengdaTech, Inc		962
	612,654		Sherritt International Corp		4,383
	75,442	*,e	Silver Standard Resources, Inc		1,626
	373,267	*	Silver Wheaton Corp		4,738
	223,051	e	Silvercorp Metals, Inc		1,062
	294,365	*,e	Sino Gold Mining Ltd		1,750
	932,113	e	Southern Copper Corp		28,606
	30,899		Southern Copper Corp		949
	1,437,352	*	St Barbara Ltd		342
	232,587	*	Stillwater Mining Co		1,563
	2,320,000		Straits Asia Resources Ltd		3,508
	11,012	e	Sumitomo Titanium Corp		315
	1,685,296	*	Sundance Resources Ltd		216
	90,754	*,e	Tanzanian Royalty Exploration Corp		259
	265,859	*	Taseko Mines Ltd		705
	848,203		Teck Cominco Ltd		23,371
	202,445	*,e	Thompson Creek Metals Co, Inc		2,445
	246,803		Tricorona AB		297
	164,580	*,e	Uex Corp		180
	236,062	*,e	Uranerz Energy Corp		541
	570,252	*,e	Uranium One, Inc		1,369
	505,451	*	US Gold Corp		1,461
	21,842		Vedanta Resources plc		664
	133,630	*	Western Areas NL		574
	405,590		Xstrata plc		5,980
	847,379		Yamana Gold, Inc		9,118
	4,847,500		Zijin Mining Group Co Ltd		4,760
			TOTAL METAL MINING		1,891,001
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.21%
	113,753	e	Aalberts Industries NV		1,530
	35,700		Aderans Co Ltd		509
	17,300		Alpen Co Ltd		315
	70,278	e	Amer Sports Oyj (A Shares)		609
	62,872		Armstrong World Industries, Inc		2,167
	36,073	e	Blyth, Inc		1,397
	310,688	e	Bulgari S.p.A.		2,401
	367,533	e	Callaway Golf Co		2,797
	268,000		Chen Hsong Holdings		83

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	290,000		Chow Sang Sang Hldg	$	248
	1,350,986		Citic Pacific Ltd		3,547
	916,919		Compagnie Financiere Richemont S.A.		25,907
	93,000		Daiwa Seiko, Inc		120
	171,748	e	Daktronics, Inc		1,472
	60,000		Denki Kogyo Co Ltd		308
	46,013		Folli-Follie S.A.		1,106
	1,450		Forbo Holding AG.		393
	694,833		Futuris Corp Ltd		147
	1,427,254	e	Hasbro, Inc		39,606
	222,161	e	Hills Industries Ltd		376
	1,804,000		Hutchison Harbour Ring Ltd		133
	31,835		Indutrade AB		620
	124,494	*,e	Intrepid Potash, Inc		2,937
	169,085	*,e	Jakks Pacific, Inc		2,421
	17,400	*	Japan Cash Machine Co Ltd		170
	1,769,995	e	Jarden Corp		49,683
	130,270		JUMBO S.A.		1,716
	194,110	*,e	Leapfrog Enterprises, Inc		798
	246,000		Luk Fook Holdings International Ltd		125
	75,371	e	Marine Products Corp		417
	1,314,296		Mattel, Inc		24,262
	7,135,397		Ming Fung Jewellery Group Ltd		792
	21,900		Mitsubishi Pencil Co Ltd		270
	92,000		Mizuno Corp		442
	136,556	e	Namco Bandai Holdings, Inc		1,398
	2,990	*	Nautilus, Inc		5
	38,239	e	Oil-Dri Corp of America		554
	10,424,857		Playmates Holdings Ltd		3,269
	103,386	*	RC2 Corp		1,473
	26,666	*	RHI AG.		762
	23,600		Roland Corp		269
	1,070	*	Russ Berrie & Co, Inc		7
	128,000		Ryobi Ltd		406
	119,790	e	Sankyo Co Ltd		7,500
	37,000		Sato Corp		504
	384,422	*,e	Shuffle Master, Inc		3,621
	51,664		Societe BIC S.A.		3,674
	158		SRI Sports Ltd		155
	46,264	*,e	Steinway Musical Instruments, Inc		549
	93,400		Tomy Co Ltd		772
	470,000		Win Hanverky Holdings Ltd		58
	158,955		Yamaha Corp		1,881
			TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		196,681

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
MISCELLANEOUS REPAIR SERVICES - 0.00%**
	6,800		Nichiden Corp	$	205
			TOTAL MISCELLANEOUS REPAIR SERVICES		205
MISCELLANEOUS RETAIL - 1.27%
	147,179	*,e	1-800-FLOWERS.COM, Inc (Class A)		508
	1,515,500	e	Alibaba.com Ltd		3,520
	104,622	*	ALLION HEALTHCARE, Inc		612
	2,005,665	*	Amazon.com, Inc		187,248
	16,400	*,e	Asahi Co Ltd		317
	113,277		Avenir Telecom		227
	40,788		Axis Communications AB		431
	349,592	e	Barnes & Noble, Inc		7,768
	23,916		BayWa AG.		876
	40,550	e	Belluna Co Ltd		172
	126,001	e	Big 5 Sporting Goods Corp		1,903
	45,199		BIM Birlesik Magazalar AS		1,843
	62,523	*,e	Blue Nile, Inc		3,884
	22,633	e	Books-A-Million, Inc		273
	271,687	*,e	Borders Group, Inc		845
	77,424	*,e	Build-A-Bear Workshop, Inc		377
	271,075	*	Buongiorno SpA		590
	8,900,000		C&O Pharmaceutical Technology Holdings Ltd		1,643
	237,227	*,e	Cabela’s, Inc		3,165
	172,378	e	Cash America International, Inc		5,199
	499,000		Chemoil Energy Ltd		279
	3,470,000	*	China WindPower Group Ltd		304
	2,528,000	*	CK Life Sciences International Holdings, Inc		129
	288,738	*,e	CKX, Inc		1,937
	19,860		cocokara fine HOLDINGS, Inc		436
	320,933	*,e	Coldwater Creek, Inc		2,632
	10,400		Cosmos Pharmaceutical Corp		273
	10,710,819		CVS Corp		382,804
	126,581		DCC plc		3,268
	504,898	*,e	Dick’s Sporting Goods, Inc		11,310
	504,355	*,e	Dollar Tree, Inc		24,552
	27,294	e	Douglas Holding AG.		1,248
	149	e	Dr Ci:Labo Co Ltd		305
	477,687	*,e	Drugstore.Com		1,161
	244,409	*	Ezcorp, Inc (Class A)		3,339
	60,009	*,e	Fuqi International, Inc		1,757
	4,522,237		Game Group PLC		11,542
	7,666	*,e	Gander Mountain Co		39
	6,800		Growell Holdings Co Ltd		162
	80,090	*	Grupa Lotos S.A.		683
	135,060	*,e	GSI Commerce, Inc		2,608
	22,965		Hellenic Duty Free Shops S.A.		228

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	142,682	*,e	Hibbett Sports, Inc	$	2,601
	1,654,988		Home Retail Group		7,192
	307,114	*,e	HSN, Inc		5,000
	6,550,279		Hutchison Whampoa Ltd		47,288
	103,000		Itochu Enex Co Ltd		600
	139,919		Jean Coutu Group PJC, Inc/The		1,247
	174,284	e	JJB Sports plc		90
	146,489	*,e	Jo-Ann Stores, Inc		3,930
	149,681	*	Kirkland’s, Inc		2,133
	31,500		Liquor Stores Income Fund		447
	65,700	e	Majestic Wine plc		231
	317,801	*,e	Marvel Entertainment, Inc		15,769
	25,500	*,e	Megane TOP Co Ltd		483
	447,788	e	Metro AG.		25,326
	48,800		Mitsuuroko Co Ltd		352
	309,218		MSC Industrial Direct Co (Class A)		13,476
	79		MTI Ltd		214
	223,161	e	N Brown Group plc		877
	36,300	e	Nippon Gas Co Ltd		611
	38,000	e	Nissen Holdings Co Ltd		123
	148,004	e	Nutri/System, Inc		2,259
	1,903,333	*,e	Office Depot, Inc		12,600
	394,550	*,e	OfficeMax, Inc		4,963
	24,000		Okuwa Co Ltd		265
	1,004,912		Origin Energy Ltd		14,468
	9,300		Otsuka Kagu Ltd		98
	70,281	*,e	Overstock.com, Inc		1,031
	27,000	e	Paris Miki, Inc		253
	1,585,000	e	Parkson Retail Group Ltd		2,348
	66,308	*	PC Connection, Inc		361
	67,259	*,e	PC Mall, Inc		461
	758,705	e	Petsmart, Inc		16,502
	193,068	*,e	Priceline.com, Inc		32,015
	110,553	e	Pricesmart, Inc		2,073
	4,338,250	*,e	Rite Aid Corp		7,115
	1,404,000		SA SA International Holdings Ltd		612
	35,600	e	Senshukai Co Ltd		254
	263,820	e	Shoppers Drug Mart Corp		10,827
	145,877	*,e	Shutterfly, Inc		2,426
	322,923		Signet Jewelers Ltd		8,503
	99,412		Signet Jewelers Ltd (London)		2,629
	61,000		Sinanen Co Ltd		326
	62,810	*,e	Stamps.com, Inc		581
	3,323,157		Staples, Inc		77,164
	71,300	e	Sugi Pharmacy Co Ltd		1,513
	44,100	e	Sundrug Co Ltd		1,194

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	61,206	e	Systemax, Inc	$	742
	21,041		Takkt AG.		265
	351		Telepark Corp		563
	380,453	e	Tiffany & Co		14,659
	16,500	*	Tsuruha Holdings, Inc		687
	201,203		Tsutsumi Jewelry Co Ltd		4,685
	4,204,432		Walgreen Co		157,539
	305,667		WH Smith plc		2,203
	190,364	e	World Fuel Services Corp		9,151
	34,000		Xebio Co Ltd		801
	124,420	*,e	Zale Corp		890
	101,053	*,e	Zumiez, Inc		1,658
			TOTAL MISCELLANEOUS RETAIL		1,197,071
MOTION PICTURES - 0.56%
	81,912	*	Ascent Media Corp (Series A)		2,097
	124,213		Astral Media, Inc		3,840
	167,543	*	Avid Technology, Inc		2,361
	5,900,000	*	Big Media Group Ltd		75
	55,928	*,e	Carmike Cinemas, Inc		565
	197,190	e	Cinemark Holdings, Inc		2,043
	79,600		Cineplex Galaxy Income Fund		1,190
	125,800	e	Culture Convenience Club Co Ltd		818
	942,446	*,e	Discovery Communications, Inc (Class A)		27,227
	1,311,362	*	Discovery Communications, Inc (Class C)		34,135
	496,213	*	DreamWorks Animation SKG, Inc (Class A)		17,650
	86,363	*	EM.Sport Media AG.		255
	805,000	*	eSun Holdings Ltd		124
	88,454	*,e	Gaiam, Inc (Class A)		617
	755,666	e	HMV Group plc		1,267
	9,652		Kinepolis		405
	379,315	*,e	Macrovision Solutions Corp		12,745
	2,850,000		Major Cineplex Group PCL (Thailand)		717
	1,785,300		Major Cineplex Group PCL		449
	217,015	e	National CineMedia, Inc		3,683
	174,928	e	News Corp (ADR)		2,483
	11,308,053		News Corp (Class A)		135,584
	242,783	e	Regal Entertainment Group (Class A)		2,991
	46,767	*,e	Rentrak Corp		835
	81,000	e	Shochiku Co Ltd		710
	9,173,203	e	Time Warner, Inc		264,005
	115,000		Toei Animation Co Ltd		1,773
	63,000		Toei Co Ltd		355
	91,557		Toho Co Ltd		1,551
	24,900		Tohokushinsha Film Corp		142
	559,077	*,e	tw telecom inc (Class A)		7,520

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	111,700	*	Vertice Trescientos Sesenta Grados S.A.	$	67
			TOTAL MOTION PICTURES		530,279
NONDEPOSITORY INSTITUTIONS - 0.95%
	29,709		Aareal Bank AG.		711
	34,657	e	Acom Co Ltd		534
	327,828		Advance America Cash Advance Centers, Inc		1,836
	205,646	e	Aeon Credit Service Co Ltd		2,071
	778,303		Aeon Thana Sinsap Thailand PCL		745
	213,425	e	Aiful Corp		250
	1,541,966	e	American Capital Ltd		4,981
	4,412,381		American Express Co		149,579
	345,821	*,e	AmeriCredit Corp		5,461
	882,027		Apollo Investment Corp		8,423
	793,000	f	ARA Asset Management Ltd		456
	534,370	e	Ares Capital Corp		5,889
	500,513		Bank of Cyprus Public Co Ltd		3,809
	150,993		Bank Pekao S.A.		7,997
	75,265	e	BlackRock Kelso Capital Corp		558
	113,848		BlueBay Asset Management plc		537
	1,675,227		BM&FBOVESPA S.A.		12,350
	146,718	*,e	Boise, Inc		775
	266,825	m	Bradford & Bingley plc		0	^
	2,730		California First National Bancorp		30
	2,049,899		Capital One Financial Corp		73,242
	2,245,798	e	CapitalSource, Inc		9,747
	628,465	e,m	Cattles plc		69
	1,007,122	e	Challenger Financial Services Group Ltd		3,030
	174,206		Challenger Infrastructure Fund		258
	12,464,658	e	Chimera Investment Corp		47,614
	1,447,191	e	CIT Group, Inc		1,751
	265,116		Collins Stewart plc		320
	86,132	*	COMPANIA VALE DO RO DOCE		0	^
	118,218	*,e	CompuCredit Corp		557
	31,334	*	Credit Acceptance Corp		1,009
	157,314	e	Credit Saison Co Ltd		1,851
	2,413,221		Criteria Caixacorp S.A.		12,395
	26,000	*	Cypress Sharpridge Investments, Inc		369
	4,740,831		Discover Financial Services		76,943
	34,442	*,e	Doral Financial Corp		127
	73,014	*,e	Encore Capital Group, Inc		982
	16,652	*,e	ePlus, Inc		259
	32,200	e	Federal Home Loan Mortgage Corp		58
	46,900	*,e	Federal National Mortgage Association		71
	125,984	e	Financial Federal Corp		3,109
	118,944	*,e	First Cash Financial Services, Inc		2,038

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	5,654,689		First Financial Holding Co Ltd	$	3,527
	337,082	*,e	First Marblehead Corp		742
	904,000	*	First Shanghai Investments Ltd		120
	9,104	*	Formuepleje Epikur AS		446
	127,345		Gladstone Investment Corp		618
	729,171	e	GLG Partners, Inc		2,939
	350,000	*	Golden Pond Healthcare, Inc		2,774
	1,233	*,b,e	Guaranty Financial Group, Inc		0	^
	395,496	*	Heckmann Corp		1,811
	836,296		Henderson Group plc		1,724
	183,775		Hercules Technology Growth Capital, Inc		1,805
	100,700	e	Hitachi Capital Corp		1,236
	269,000		Hong Leong Finance Ltd		516
	270,422		Housing Development Finance Corp		15,681
	4,061	*	Hypo Real Estate Holding AG.		9
	9,368		Indiabulls Securities Ltd		11
	109,863	*,e	Information Services Group, Inc		438
	790,115		Infrastructure Development Finance Co Ltd		2,399
	420,613	e	Intermediate Capital Group plc		2,009
	367,549		International Personal Finance plc		958
	424,530	e	Investor AB (B Shares)		7,749
	19,675		IWBank S.p.A		62
	168,000	e	Jaccs Co Ltd		386
	1,408,100	e	Japan Securities Finance Co Ltd		10,479
	37,200		Jardine Matheson Holdings Ltd		1,131
	418,889	*	KB Financial Group, Inc		21,508
	98,974	e	Kohlberg Capital Corp		597
	1,561,474	e	Lancashire Holdings Ltd		12,752
	803,674		Lender Processing Services, Inc		30,675
	700,226		Marfin Popular Bank Public Co Ltd		2,972
	351,089	*,e	MCG Capital Corp		1,471
	82,534	e	Medallion Financial Corp		690
	157,296	*,e	Mercadolibre, Inc		6,050
	344,816		Moneysupermarket.com Group plc		444
	108,437	*,e	Nelnet, Inc (Class A)		1,349
	106,694	*,e	NewStar Financial, Inc		351
	112,253	e	NGP Capital Resources Co		815
	299,465	*,e	Ocwen Financial Corp		3,390
	156,400	*,e	OMC Card, Inc		270
	268,500	*,e	Orient Corp		251
	628,955	e	ORIX Corp		38,396
	1,013		Osaka Securities Exchange Co Ltd		4,604
	680,456		Paragon Group of Cos plc		1,640
	115,767		PennantPark Investment Corp		939
	38,870	*	Pennymac Mortgage Investment Trust		774
	314,448	*,e	PHH Corp		6,239

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	13,768	e	Promise Co Ltd	$	75
	169,396	e	Provident Financial plc		2,458
	352,000		Public Financial Holdings Ltd		170
	506,100		Redecard S.A.		7,785
	103,548		Samsung Card Co		4,640
	5	b,m	SFCG Co Ltd		0	^
	2,333,165		Siemens AG.		216,052
	2,014,942	*,e	SLM Corp		17,569
	313,431		Smiths News plc		599
	15,670	e	Student Loan Corp		727
	4,119,650		Taiwan Cooperative Bank		2,537
	154,470	e	Takefuji Corp		544
	284	*,b	Thornburg Mortgage, Inc		0	^
	116,213	e	TICC Capital Corp		586
	673,700		Tisco Financial Group PCL (ADR)		462
	1,113,563	e	Tower Australia Group Ltd		2,780
	51,503	*,e	Tree.com, Inc		389
	36,763	e	Triangle Capital Corp		454
	444,737	e	Tullett Prebon plc		2,778
	250,000		Westway Group, Inc		1,138
	95,717	*,e	World Acceptance Corp		2,413
			TOTAL NONDEPOSITORY INSTITUTIONS		902,694
NONMETALLIC MINERALS, EXCEPT FUELS - 0.08%
	1,236,568		Adelaide Brighton Ltd		3,044
	124,865	e	AMCOL International Corp		2,858
	222,591	*,e	Cardium Therapeutics, Inc		361
	121,995	e	Compass Minerals International, Inc		7,517
	125,374	*	Gem Diamonds Ltd		477
	331,424	*,e	General Moly, Inc		1,044
	5,544,982		Grupo Mexico S.A. de C.V. (Series B)		10,267
	950,641		Haci Omer Sabanci Holding AS		3,683
	93,172		Harry Winston Diamond Corp		788
	168,445	e	Imerys S.A.		9,666
	307,328		K+S AG.		16,770
	51,100	*,e	Migao Corp		324
	511,914	*,e	Mineral Deposits Ltd		384
	16,900	e	Nippon Ceramic Co Ltd		240
	71,000		Nittetsu Mining Co Ltd		381
	75,859	*	Petra Diamonds Ltd		78
	157,300	*	Rubicon Minerals Corp		651
	15,470		S&B Industrial Minerals S.A.		120
	9,038	*,e	United States Lime & Minerals, Inc		325
	381,506	e	Vulcan Materials Co		20,627
			TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		79,605

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
OIL AND GAS EXTRACTION - 4.97%
	431,800	e	Acergy S.A.	$	5,439
	200,607	*	Advantage Oil & Gas Ltd		1,418
	342,248	e	AED Oil Ltd		184
	834,907	*	Afren plc		1,071
	212,800	e	Aker Kvaerner ASA		2,397
	40,219		AltaGas Income Trust		663
	3,249,671		Anadarko Petroleum Corp		203,852
	2,795,910		Apache Corp		256,747
	45,436	e	APCO Argentina, Inc		1,041
	50,547	*,e	Approach Resources, Inc		459
	188,550	*,e	Arena Resources, Inc		6,694
	1,151,406	*,e	Arrow Energy NL		4,347
	193,932		Atlas America, Inc		5,250
	186,920	*,e	ATP Oil & Gas Corp		3,344
	181,731	*,e	Atwood Oceanics, Inc		6,410
	808,489		Australian Worldwide Exploration Ltd		1,940
	1,609,121		Baker Hughes, Inc		68,645
	243,570	*	Bankers Petroleum Ltd		1,076
	144,738	*,e	Basic Energy Services, Inc		1,229
	165,484		Baytex Energy Trust		3,648
	1,816,568		Beach Petroleum Ltd		1,202
	243,398	e	Berry Petroleum Co (Class A)		6,518
	10,678,546		BG Group plc		185,507
	216,729	*,e	Bill Barrett Corp		7,107
	105,057	*	Birchcliff Energy Ltd		810
	1,134,792		BJ Services Co		22,049
	401,000	*	BlackPearl Resources, Inc		723
	5,073,217	e	Boart Longyear Group		1,432
	17,025		Bonterra Oil & Gas Ltd		423
	400,676	*,e	Boots & Coots, Inc		645
	423,130	*	Brigham Exploration Co		3,842
	127,018	*	Bronco Drilling Co, Inc		832
	747,283	e	Cabot Oil & Gas Corp		26,715
	225,094	*	Cairn Energy plc		10,026
	368,681	*	Cairn India Ltd		2,007
	346,207	*	Cal Dive International, Inc		3,424
	36,397		Calfrac Well Services Ltd		646
	84,420	*	Calvalley Petroleums, Inc		197
	1,773,080	*	Cameron International Corp		67,058
	186,506		Canadian Natural Resources Ltd		12,531
	1,326,104		Canadian Natural Resources Ltd (Canada)		89,551
	315,286		Canadian Oil Sands Trust		9,055
	657,753	*,e	Carnarvon Petroleum Ltd		313
	140,707	*,e	Carrizo Oil & Gas, Inc		3,446
	16,115	*	CAT Oil AG.		157

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	37,717	*,e	Celtic Exploration Ltd	$	673
	321,270	*,e	Cheniere Energy, Inc		941
	2,598,177		Chesapeake Energy Corp		73,788
	3,832,000		China Oilfield Services Ltd		3,575
	263,549	e	Cimarex Energy Co		11,417
	38,183	*,e	Clayton Williams Energy, Inc		1,150
	250,628		Clough Ltd		203
	28,799,000		CNOOC Ltd		38,720
	2,840,000	e	Cnpc Hong Kong Ltd		2,250
	126,095	*	CNX Gas Corp		3,871
	126,315	*,e	Compagnie Generale de Geophysique S.A.		2,947
	329,003	*,e	Complete Production Services, Inc		3,718
	227,617	*,e	Compton Petroleum Corp		296
	359,362	*	Comstock Resources, Inc		14,403
	2,217,835	*	Concho Resources, Inc		80,552
	514,757	*,e	Connacher Oil and Gas Ltd		529
	61,833	*	Contango Oil & Gas Co		3,157
	97,916	*,e	Continental Resources, Inc		3,835
	106,629	*	Corridor Resources, Inc		326
	33,005	*,e	CREDO Petroleum Corp		334
	2,315,880	e	Crescent Point Energy Corp		78,303
	79,328	*,e	Crew Energy, Inc		641
	43,776	*,e	Cubic Energy, Inc		41
	112,755	*	Dana Petroleum PLC		2,526
	45,137	*,e	Dawson Geophysical Co		1,236
	189,847		Daylight Resources Trust		1,507
	828,644	*,e	Delta Petroleum Corp		1,450
	7,744,716	*,e	Denbury Resources, Inc		117,178
	919,000	*,e	DET Norske Oljeselskap		646
	95,000	*	Det Norske Oljeselskap ASA		826
	1,715,937		Devon Energy Corp		115,534
	350,499	e	Diamond Offshore Drilling, Inc		33,480
	479,909	*	Eastern Star Gas Ltd		392
	38,800	*,e	Electromagnetic GeoServices AS		26
	63,622	*	Emerald Energy plc		761
	1,666,607		EnCana Corp		96,511
	502,390	*,e	Encore Acquisition Co		18,789
	819,252	*,e	Endeavour International Corp		991
	166,744	*,e	Energy Recovery, Inc		970
	416,191		Enerplus Resources Fund		9,524
	914,909	e	ENSCO International, Inc		38,920
	154,278	e	Ensign Energy Services, Inc		2,340
	1,512,239		EOG Resources, Inc		126,287
	420,849		Equitable Resources, Inc		17,928
	107,362	e	Etablissements Maurel et Prom		2,170
	422,021	*	EXCO Resources, Inc		7,888

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	197,758	*,e	Exterran Holdings, Inc	$	4,695
	69,796	*,e	Fairborne Energy Ltd		294
	36,790	*	Flint Energy Services Ltd		430
	351,335	*,e	Forest Oil Corp		6,876
	1,497,580		Formosa Petrochemical Corp		3,922
	55,480	e	Fred Olsen Energy ASA		2,069
	211,262	*,e	FX Energy, Inc		682
	569,693		GAIL India Ltd		4,253
	114,697	*,e	Galleon Energy, Inc		672
	134,104		Gazpromneft OAO (ADR)		2,796
	38,060	*,e	Geokinetics, Inc		807
	32,676	*,e	Georesources, Inc		361
	582,827	*,e	Global Industries Ltd		5,537
	122,172	*,e	GMX Resources, Inc		1,919
	130,591	*,e	Goodrich Petroleum Corp		3,371
	143,043	*	Gulfport Energy Corp		1,250
	70,040	*	Gulfsands Petroleum PLC		276
	5,394,746		Halliburton Co		146,306
	58,879	*	Hardy Oil & Gas plc		447
	267,992		Harvest Energy Trust		1,745
	165,611	*,e	Harvest Natural Resources, Inc		850
	331,041	*	Helix Energy Solutions Group, Inc		4,959
	374,456	e	Helmerich & Payne, Inc		14,802
	530,701	*,e	Hercules Offshore, Inc		2,606
	224,072	*,e	Heritage Oil Ltd		1,760
	60,916	*	Highpine Oil & Gas Ltd (Class A)		406
	315,309	e	Husky Energy, Inc		8,876
	10,400	e	Idemitsu Kosan Co Ltd		859
	1,252		Inpex Holdings, Inc		10,684
	5,316	*,e	Isramco, Inc		694
	225,497	*,e	Iteration Energy Ltd		253
	238,973	*	Ivanhoe Energy, Inc		551
	15,900		Japan Petroleum Exploration Co		811
	260,889		JKX Oil & Gas plc		1,158
	743,000		K1 Ventures Ltd		100
	36,000		Kanto Natural Gas Development Ltd		253
	161,759	*	Karoon Gas Australia Ltd		1,115
	48,416	e	Kayne Anderson Energy Development Co		641
	76,676	f	KazMunaiGas Exploration Production (GDR)		1,716
	726,505	*,e	Key Energy Services, Inc		6,321
	31,102	*,e	Lundin Petroleum AB		252
	45,980	e	Major Drilling Group International		934
	320,371	*	Mariner Energy, Inc		4,543
	541,517	*,e	McMoRan Exploration Co		4,088
	102,874	e	Melrose Resources plc		559
	1,199,150	*,e	Nabors Industries Ltd		25,062

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	118,800		NAL Oil & Gas Trust	$	1,409
	2,537,668	*	National Oilwell Varco, Inc		109,450
	699,373		New Zealand Oil & Gas Ltd		823
	753,083	*	Newfield Exploration Co		32,051
	541,687	*	Newpark Resources, Inc		1,739
	762,811		Nexen, Inc		17,342
	551,889	*,e	Nexus Energy Ltd		158
	52,201		Niko Resources Ltd		4,083
	12,700		Noble Corp		482
	729,854		Noble Energy, Inc		48,141
	154,968	*,e	Northern Oil And Gas, Inc		1,302
	126,500	*,e	Norwegian Energy Co AS.		350
	123,841	f	NovaTek OAO (GDR)		6,105
	111,979	*,e	NuVista Energy Ltd		1,306
	7,473,498		Occidental Petroleum Corp		585,921
	177,059	*,e	Oceaneering International, Inc		10,048
	15,400		OGX Petroleo e Gas Participacoes S.A.		11,779
	354,816		Oil & Natural Gas Corp Ltd		8,645
	18,574	*	Oil India Ltd		440
	1,089,052	*,e	Oilsands Quest, Inc		1,231
	361,536	*,e	OPTI Canada, Inc		726
	196,912	*,e	PA Resources AB		757
	243,289	*,e	Pacific Rubiales Energy Corp		3,013
	36,815	e	Panhandle Oil and Gas, Inc (Class A)		786
	257,446	*	Parallel Petroleum Corp		816
	169,761		Paramount Energy Trust		840
	47,289	*	Paramount Resources Ltd (Class A)		638
	658,618	*	Parker Drilling Co		3,596
	923,310	e	Patterson-UTI Energy, Inc		13,942
	259,881		Penn Virginia Corp		5,954
	1,027,108		Penn West Energy Trust		16,289
	46,590	*	Petro Andina Resources, Inc (Class A)		454
	106,547	*	Petrobank Energy & Resources Ltd		4,404
	957,104	*	PetroHawk Energy Corp		23,171
	3,648,850		Petroleo Brasileiro S.A.		84,136
	2,287,668		Petroleo Brasileiro S.A. (ADR)		105,004
	4,442,773		Petroleo Brasileiro S.A. (Preference)		87,772
	119,081	*	Petroleum Development Corp		2,222
	313,300	*	Petroleum Geo-Services ASA		3,056
	1,451,000	*,e	Petrolia Drilling ASA		131
	36,626	*	Petrominerales Ltd		489
	94,273	e	Petroplus Holdings AG.		2,378
	277,432	*,e	Petroquest Energy, Inc		1,801
	84,467		Peyto Energy Trust		843
	248,653	*	Pioneer Drilling Co		1,825
	361,413		Pioneer Natural Resources Co		13,116

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	436,848	*	Plains Exploration & Production Co	$	12,083
	60,208	*	Portland Gas plc		119
	101,958	*,e	PowerSecure International, Inc		691
	652,500		PPB Group BHD		2,903
	163,322		Precision Drilling Trust		1,092
	202,445	*	Premier Oil plc		3,915
	1,651,256	*,e	Pride International, Inc		50,264
	1,212	*,e	PrimeEnergy Corp		35
	178,261		ProEx Energy Ltd		2,301
	302,600	e	ProSafe ASA		1,559
	177,400	*,e	Prosafe Production Public Ltd		421
	412,423		Provident Energy Trust		2,388
	1,374,269		PTT Exploration & Production PCL		5,944
	179,267	*	Questerre Energy Corp		412
	370,564	*,e	Quicksilver Resources, Inc		5,258
	3,449,950	e	Range Resources Corp		170,290
	156,231	*,e	Real Resources, Inc		2,284
	303,687	*	Regal Petroleum plc		523
	123,631	*,e	Rex Energy Corp		1,032
	172,031	*,e	Riversdale Mining Ltd		823
	1,129,487	*	Roc Oil Co Ltd		603
	497,956	e	Rowan Cos, Inc		11,488
	130,783	e	RPC, Inc		1,371
	182,909	*	Salamander Energy plc		659
	1,348,101		Santos Ltd		18,077
	81,738	e	Savanna Energy Services Corp		512
	20,429		SBM Offshore NV		434
	5,694,208		Schlumberger Ltd		339,374
	66,640	*,e	SEACOR Holdings, Inc		5,440
	59,261	*,e	SeaDrill Ltd		1,237
	95,668	*,e	Seahawk Drilling, Inc		2,974
	50	*	Serval Integrated Energy Services		0	^
	304,911	*,e,m	Sibir Energy plc		852
	70,113		SK Energy Co Ltd		7,498
	1,016,415	e	Smith International, Inc		29,171
	50,663	*,e	Soco International plc		1,145
	124,100	*	Songa Offshore SE		593
	1,177,125	*	Southwestern Energy Co		50,240
	321,761		St. Mary Land & Exploration Co		10,444
	9,093,486	*	Sterling Energy plc		618
	238,937	*,e	Stone Energy Corp		3,897
	41,142	*,e	Storm Exploration, Inc		567
	111,300	*,e	Subsea 7, Inc		1,493
	314,434	*,e	Sulphco, Inc		431
	250,656	*,e	Superior Energy Services		5,645
	94,468		Superior Plus Corp		1,033

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	85,272	*,e	Superior Well Services, Inc	$	825
	1,135,088		Surgutneftegaz (ADR)		9,716
	358,500	e	Surgutneftegaz (ADR) (London)		3,137
	210,927	*	Swift Energy Co		4,995
	361,576	*,e	Syntroleum Corp		976
	2,265,326		Talisman Energy, Inc		39,418
	293,174		Tatneft (GDR)		7,256
	248,367	e	Technip S.A.		15,864
	404,103	*,e	Tetra Technologies, Inc		3,916
	77,488	*,e	TGC Industries, Inc		376
	169,000	*	TGS Nopec Geophysical Co ASA		2,531
	300,163	e	Tidewater, Inc		14,135
	94,315		Toreador Resources Corp		942
	145,098	e	Trican Well Service Ltd		1,884
	80,580		Trilogy Energy Trust		577
	137,866	e	Trinidad Drilling Ltd		869
	6,480,182		Tullow Oil plc		116,819
	70,757	*,e	Union Drilling, Inc		541
	132,259	*,e	Unit Corp		5,456
	506,884	*	UTS Energy Corp		819
	498,565		Vaalco Energy, Inc		2,293
	188,612	*,e	Venoco, Inc		2,171
	24,325	*,e	Verenex Energy, Inc		145
	56,170		Vermilion Energy Trust		1,552
	253,309	e	W&T Offshore, Inc		2,966
	298,577	*	Warren Resources, Inc		884
	2,200	*	Weatherford International Ltd		46
	106,794	*,e	West Siberian Resources Ltd (GDR)		1,321
	162,296	*	Whiting Petroleum Corp		9,345
	285,523	*,e	Willbros Group, Inc		4,349
	298,630		Woodside Petroleum Ltd		13,734
	5,023,616		XTO Energy, Inc		207,575
	11,600		Zargon Energy Trust		196
	52,061	*,e	Zion Oil & Gas, Inc		508
			TOTAL OIL AND GAS EXTRACTION		4,698,415
PAPER AND ALLIED PRODUCTS - 0.50%
	71,270	e	Altri SGPS S.A.		430
	699,868		Aracruz Celulose S.A.		1,560
	590,697		Bemis Co		15,305
	122,422	e	Billerud AB		658
	73,768	*,e,m	Billerud AB (Sub Shares)		395
	215,808	*	Buckeye Technologies, Inc		2,316
	91,424	*	Canfor Corp		519
	119,872		Cascades, Inc		879
	284,558	*,e	Cenveo, Inc		1,969

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	81,000	*	Chuetsu Pulp & Paper Co Ltd	$	196
	86,839	e	Corporate Express Australia Ltd		313
	90,000		Daio Paper Corp		845
	235,329	*,e	Domtar Corporation		8,288
	745,801		DS Smith plc		1,279
	117,603		Empresas CMPC S.A.		4,150
	177,702	e	Exor S.p.A		3,290
	20,900		FP Corp		1,083
	265,197		Glatfelter		3,044
	626,234	*	Graphic Packaging Holding Co		1,447
	167,654		Greif, Inc (Class A)		9,229
	84,138	e	Grupo Empresarial Ence S.A.		380
	1,141,700		Hengan International Group Co Ltd		6,902
	200,000	e	Hokuetsu Paper Mills Ltd		1,056
	95,151	e	Holmen AB (B Shares)		2,621
	141,980		Huhtamaki Oyj		1,808
	3,231,517		International Paper Co		71,838
	123,962	*	Kapstone Paper and Packaging Corp		1,009
	2,637,136		Kimberly-Clark Corp		155,539
	894,876		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		3,753
	283,858	e	Kinnevik Investment AB (Series B)		3,715
	527,195		Klabin S.A.		1,250
	121,100		Kokuyo Co Ltd		1,108
	16,752		Mayr-Melnhof Karton AG.		1,698
	717,486		MeadWestvaco Corp		16,007
	135,457		Metso Oyj		3,812
	13,619		Miquel y Costas & Miquel S.A.		320
	293,000	e	Mitsubishi Paper Mills Ltd		398
	19,782	e	Mondi Ltd		93
	599,860	e	Mondi plc		2,961
	202,781		M-real Oyj (B Shares)		237
	83,252		Neenah Paper, Inc		980
	165,700	e	Nippon Paper Group, Inc		4,781
	214,600	*,e	Norske Skogindustrier ASA		423
	693,893	e	OJI Paper Co Ltd		3,131
	27,480	*,e	Orchids Paper Products Co		550
	27,000	*	Pack Corp		412
	619,561		Packaging Corp of America		12,639
	38,437		Papeles y Cartones de Europa S.A.		226
	849,717		PaperlinX Ltd		506
	150		Pilot Corp		167
	205,098		Portucel Empresa Produtora de Pasta e Papel S.A.		630
	356,000		Rengo Co Ltd		2,181
	312,171		Rock-Tenn Co (Class A)		14,706
	42,400	e	Sanrio Co Ltd		358
	640,051	e	Sappi Ltd		2,411

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	83,568		Schweitzer-Mauduit International, Inc	$	4,543
	73,840		Semapa-Sociedade de Investimento e Gestao		835
	21,186	*,e	Sequana		299
	13,000	*	Shimojima Co Ltd		188
	195,677		Smurfit Kappa Group plc		1,546
	1,034,400		Sonoco Products Co		28,487
	764,064	e	Stora Enso Oyj (R Shares)		5,322
	2,047,586	e	Svenska Cellulosa AB (B Shares)		27,756
	402,834	e	Temple-Inland, Inc		6,615
	162,000		Tokushu Tokai Holdings Co Ltd		440
	99,647	e	Uni-Charm Corp		9,458
	503,241		UPM-Kymmene Oyj		6,039
	93,114	*	Votorantim Celulose e Papel S.A.		1,528
	237,616	e	Wausau Paper Corp		2,376
			TOTAL PAPER AND ALLIED PRODUCTS		473,233
PERSONAL SERVICES - 0.12%
	15,390,105		Chaoda Modern Agriculture		9,294
	524,974	e	Cintas Corp		15,912
	157,306	*,e	Coinstar, Inc		5,188
	24,660		CPI Corp		308
	256,971		Davis Service Group plc		1,647
	68,136		Dignity plc		633
	109,027		G & K Services, Inc (Class A)		2,416
	2,157,564		H&R Block, Inc		39,655
	175,712	e	Invocare Ltd		946
	169,269	e	Jackson Hewitt Tax Service, Inc		863
	1,095,673		Kuala Lumpur Kepong BHD		4,369
	60,015	*,e	Mac-Gray Corp		647
	327,996	e	Regis Corp		5,084
	2,267,383		Rentokil Initial plc		4,127
	493,243	*,e	Sally Beauty Holdings, Inc		3,507
	940,989		Service Corp International		6,596
	94,614	*,e	Steiner Leisure Ltd		3,383
	73,626		Unifirst Corp		3,273
	191,135		Weight Watchers International, Inc		5,245
			TOTAL PERSONAL SERVICES		113,093
PETROLEUM AND COAL PRODUCTS - 4.55%
	51,344	e	Alon USA Energy, Inc		510
	41,000	e	AOC Holdings, Inc		260
	643,680		Ashland, Inc		27,820
	180,277		Bharat Petroleum Corp Ltd		2,151
	32,856,537		BP plc		290,379
	687,238		BP plc (ADR)		36,582
	27,817	e	Caltex Australia Ltd		297

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,251,399		Chevron Corp	$	722,006
	20,540,764	e	China Petroleum & Chemical Corp		17,466
	6,639,398		ConocoPhillips		299,835
	101,000		Cosmo Oil Co Ltd		281
	152,418	*,e	CVR Energy, Inc		1,896
	36,500	e	Daiseki Co Ltd		720
	73,331	e	Delek US Holdings, Inc		628
	4,749,477		Ecopetrol S.A.		6,697
	2,040,393	e	ENI S.p.A.		50,998
	56,243	e	ERG S.p.A.		856
	5,012		Esso SA Francaise		695
	23,660,287		Exxon Mobil Corp		1,623,332
	406,050		Frontier Oil Corp		5,652
	150,807	e	Galp Energia SGPS S.A.		2,608
	1,151,643	*,e	Gran Tierra Energy, Inc		4,791
	16,388	*,e	Green Plains Renewable Energy, Inc		116
	257,592	*,e	Headwaters, Inc		997
	69,426		Hellenic Petroleum S.A.		788
	1,120,557		Hess Corp		59,905
	138,080	e	Holly Corp		3,538
	374,617		Imperial Oil Ltd		14,258
	270,076	*,e	Linc Energy Ltd		404
	620,122		LUKOIL (ADR)		33,611
	3,853,954		Marathon Oil Corp		122,941
	60,072		Motor Oil Hellas Corinth Refineries S.A.		974
	1,377,854		Murphy Oil Corp		79,323
	18,211		Neste Oil Oyj		336
	271,334		Nippon Mining Holdings, Inc		1,336
	176,309		OMV AG.		7,113
	43,215		Parkland Income Fund		396
	22,000	m	Peab Industri AB (B Shares)		104
	26,996,542	e	PetroChina Co Ltd		30,515
	151,929		PGG Wrightson Ltd		70
	385,484		Polski Koncern Naftowy Orlen S.A.		3,996
	1,124,450		PTT PCL		8,818
	67,986		Quaker Chemical Corp		1,491
	837,427		Reliance Industries Ltd		38,327
	575,752		Repsol YPF S.A.		15,663
	3,362,054	f	Rosneft Oil Co (GDR)		25,283
	4,556,926	e	Royal Dutch Shell plc (A Shares)		129,886
	3,825,904		Royal Dutch Shell plc (B Shares)		106,146
	532,259	*,e	SandRidge Energy, Inc		6,898
	37,626	e	Saras S.p.A.		145
	37,062		Showa Shell Sekiyu KK		405
	34,281		SK Corp		3,273
	55,865		S-Oil Corp		2,954

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	691,378	e	Statoil ASA	$	15,549
	2,278,480		Suncor Energy, Inc		78,744
	2,164,280	e	Suncor Energy, Inc (Canada)		75,603
	371,571	e	Sunoco, Inc		10,571
	911,552	e	Tesoro Corp		13,655
	1,111,500		Thai Oil PCL		1,505
	546,872	e	TonenGeneral Sekiyu KK		5,343
	3,530,126	e	Total S.A.		209,758
	157,092		Tupras Turkiye Petrol Rafine		2,604
	2,219,285		Valero Energy Corp		43,032
	670,650		Walter Industries, Inc		40,279
	80,015		WD-40 Co		2,272
	616,700	*	Western Refining, Inc		3,978
			TOTAL PETROLEUM AND COAL PRODUCTS		4,299,363
PIPELINES, EXCEPT NATURAL GAS - 0.09%
	591,020	e	APA Group		1,653
	9,800		Enbridge Income Fund		117
	95,730		Pembina Pipeline Income Fund		1,377
	2,759,880		Spectra Energy Corp		52,272
	784,362	e	TransCanada Corp		24,447
	632,529		Wellstream Holdings plc		6,166
	69,900		Westshore Terminals Income Fund		805
			TOTAL PIPELINES, EXCEPT NATURAL GAS		86,837
PRIMARY METAL INDUSTRIES - 1.00%
	115,003	e	Acerinox S.A.		2,472
	20,055	*,e	Advanced Metallurgical Group NV		302
	139,000	*	Aichi Steel Corp		584
	428,166		AK Steel Holding Corp		8,448
	3,421,115		Alcoa, Inc		44,885
	413,674	e	Allegheny Technologies, Inc		14,474
	4,898,000	e	Aluminum Corp of China Ltd		5,347
	1,300,720	e	Angang New Steel Co Ltd		2,444
	570,694	*,e	ArcelorMittal		21,337
	14,547	*	Armtec Infrastructure Income Fund		273
	40,089		BE Group AB		253
	19,662		Bekaert S.A.		2,602
	269,057		Belden CDT, Inc		6,215
	1,382,714		BlueScope Steel Ltd		3,574
	200,321	e	Bodycote plc		533
	117,197	*	Brush Engineered Materials, Inc		2,867
	56,384		Canam Group, Inc		369
	139,091	e	Carpenter Technology Corp		3,253
	596,853		Catcher Technology Co Ltd		1,586
	249,327	*,e	Century Aluminum Co		2,331

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,548,039		China Steel Corp	$	12,601
	81,000		Chugai Ro Co Ltd		245
	364,017	*,e	CommScope, Inc		10,895
	559,568		Companhia Siderurgica Nacional S.A.		17,176
	57,392	*	Corinth Pipeworks S.A.		174
	6,656,247		Corning, Inc		101,906
	57,835		Daewoo International Corp		1,728
	51,923	e	Daido Steel Co Ltd		189
	445,421		Delta PLC		1,278
	40,820		Dongkuk Steel Mill Co Ltd		946
	150,485		DOWA HOLDINGS CO Ltd		912
	39,633		Draka Holding		737
	83,058		Duro Felguera S.A.		886
	3,367		EL Ezz Aldekhela Steel Alexandria		512
	228,673		El Ezz Steel Co		635
	34,482		Elval Aluminium Process Co		84
	109,583	e	Encore Wire Corp		2,448
	333,063		Eregli Demir ve Celik Fabrikalari TAS		1,436
	12,920	f	Evraz Group S.A. (GDR)		337
	503,050		Feng Hsin Iron & Steel Co		828
	502,000		Fujikura Ltd		2,461
	1,217,027	e	Furukawa Electric Co Ltd		4,949
	150,000		Furukawa-Sky Aluminum Corp		259
	73,351	*,e	Fushi Copperweld, Inc		621
	197,748	*	General Cable Corp		7,742
	105,922	*,e	General Steel Holdings, Inc		412
	174,347		Gerdau Ameristeel Corp		1,391
	731,002		Gerdau S.A. (Preference)		9,800
	124,350		Gerdau S.A.		1,302
	159,025	e	Gibraltar Industries, Inc		2,110
	228,000		Godo Steel Ltd		447
	79,685		Halcor S.A.		173
	68,102	*,e	Haynes International, Inc		2,167
	962,872		Hindalco Industries Ltd		2,583
	29,178		Hoganas AB (Class B)		489
	220,974	*	Horsehead Holding Corp		2,590
	264,045	e	Hubbell, Inc (Class B)		11,090
	84,999		Hyundai Steel Co		5,497
	587,049		JFE Holdings, Inc		20,143
	274,000		JFE Shoji Holdings, Inc		1,001
	1,976,412	e	Jiangxi Copper Co Ltd		4,422
	304,411		Johnson Matthey plc		6,753
	236,365		KGHM Polska Miedz S.A.		7,115
	225,516		KME Group S.p.A.		163
	1,249,671	e	Kobe Steel Ltd		2,186
	31,200	e	Kyoei Steel Ltd		749

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,987		Leoni AG.	$	615
	7,592,000	e	Maanshan Iron & Steel		4,585
	6,493	f	Magnitogorsk Iron & Steel Works (GDR)		60
	5,600	e	Maruichi Steel Tube Ltd		112
	15,462	e	Matsuda Sangyo Co Ltd		255
	168,840	e	Matthews International Corp (Class A)		5,974
	853,506		Mechel Steel Group OAO (ADR)		15,346
	161,837	*,e	Metalico, Inc		675
	452,000		Midas Holdings Ltd		274
	130,000	e	Mitsubishi Cable Industries Ltd		125
	713,638	e	Mitsubishi Materials Corp		1,972
	261,000	*	Mitsubishi Steel Manufacturing Co Ltd		532
	540,398	e	Mitsui Mining & Smelting Co Ltd		1,385
	301,027		Mittal Steel South Africa Ltd		4,809
	223,138		Mueller Industries, Inc		5,326
	173,000		Nakayama Steel Works Ltd		331
	31,100		Neturen Co Ltd		242
	120,000	e	Nippon Denko Co Ltd		837
	73,000		Nippon Koshuha Steel Co Ltd		77
	1,019,000		Nippon Light Metal Co Ltd		1,056
	133,000	e	Nippon Metal Industry Co Ltd		239
	4,063,423		Nippon Steel Corp		14,848
	119,500	e	Nippon Yakin Kogyo Co Ltd		596
	47,842		Norddeutsche Affinerie AG.		1,994
	400,119	e	Norsk Hydro ASA		2,663
	47,354	*,e	Northwest Pipe Co		1,588
	1,301,096		Nucor Corp		61,164
	58,997	e	Olympic Steel, Inc		1,693
	1,566,115		OneSteel Ltd		4,186
	39,200		Osaka Steel Co Ltd		687
	15,648		Outokumpu Oyj		294
	193,000	e	Pacific Metals Co Ltd		1,464
	1,249,700		Parkson Holdings BHD		1,845
	89,855		POSCO		37,139
	37,096	e	POSCO (ADR)		3,856
	838,571		Precision Castparts Corp		85,424
	16,615	*	Recylex S.A.		223
	152,806	*,e	RTI International Metals, Inc		3,806
	107,000	e	Sanyo Special Steel Co Ltd		397
	8,018		Schmolz + Bickenbach AG.		248
	169,400		Schnitzer Steel Industries, Inc (Class A)		9,021
	351,484	f	Severstal (GDR)		2,710
	35,967		Sidenor Steel Products Manufacturing Co S.A.		268
	9,800	*,f,m	Siderar SAIC (ADR) (Class A)		506
	1,927,915		Steel Authority Of India		6,849
	1,522,147		Steel Dynamics, Inc		23,350

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	526,267		Sterlite Industries India Ltd	$	8,491
	969,386		Straits Resources Ltd		1,407
	1,591,212	*	Sumitomo Electric Industries Ltd		20,811
	300,000	*	Sumitomo Light Metal Industries Ltd		301
	5,182,540	e	Sumitomo Metal Industries Ltd		12,759
	919,491		Sumitomo Metal Mining Co Ltd		15,099
	11,066	*,e	Sutor Technology Group Ltd		35
	242,000		SWCC Showa Holdings Co Ltd		253
	44,269		Taihan Electric Wire Co Ltd		838
	508,002		Tata Steel Ltd		5,380
	240,591	e	Tenaris S.A.		4,288
	129,990	e	Texas Industries, Inc		5,458
	57,236	*,e	Timminco Ltd		72
	483,726	e	Titanium Metals Corp		4,639
	42,369		TKH Group NV		707
	32,500	e	Toho Titanium Co Ltd		441
	138,000		Toho Zinc Co Ltd		663
	130,000	e	Tokyo Rope Manufacturing Co Ltd		468
	445,111	e	Tokyo Steel Manufacturing Co Ltd		5,454
	48,000		Toyo Kohan Co Ltd		210
	163,676		Tredegar Corp		2,373
	106,618		Tubacex S.A.		527
	182,227		Tubos Reunidos S.A.		651
	775,676		Tung Ho Steel Enterprise Corp		823
	15,873		Umicore		475
	643,361	e	United States Steel Corp		28,546
	43,342	*,e	Universal Stainless & Alloy		791
	258,316	*,e	Uranium Energy Corp		762
	176,393		Usinas Siderurgicas de Minas Gerais S.A.		4,511
	283,031		Usinas Siderurgicas de Minas Gerais S.A. (Preference)		7,462
	515,621	e	Vallourec		87,374
	498,972	e	Voestalpine AG.		17,809
	88,888	e	Von Roll Holding AG.		668
	13,240,150		Walsin Lihwa Corp		4,551
	353,625	e	Worthington Industries, Inc		4,915
	175,600		Yamato Kogyo Co Ltd		4,949
	128,000		Yodogawa Steel Works Ltd		539
			TOTAL PRIMARY METAL INDUSTRIES		945,863
PRINTING AND PUBLISHING - 0.40%
	317,173	*	ACCO Brands Corp		2,290
	70,020		Alma Media		746
	224,358	e	American Greetings Corp (Class A)		5,003
	1,556,000		AMVIG Holdings Ltd		644
	408,918		APN News & Media Ltd		743
	124,799	e	Arnoldo Mondadori Editore S.p.A.		623

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	477,219		Belo (A.H.) Corp (Class A)	$	2,582
	215,027	e	Bowne & Co, Inc		1,656
	40,086		Caltagirone Editore S.p.A.		127
	54,300	e	Cermaq ASA		440
	132,971	*	China Information Security Technology, Inc		737
	58,189	*,e	Consolidated Graphics, Inc		1,452
	67,388		Courier Corp		1,021
	46,079		CSS Industries, Inc		911
	777,518		Dai Nippon Printing Co Ltd		10,706
	425,939	e	Daily Mail & General Trust		3,126
	51,316		Davis & Henderson Income Fund		714
	108,100	e	De La Rue plc		1,551
	150,460	*,e	Dolan Media Co		1,804
	482,128		Dun & Bradstreet Corp		36,313
	241,828	e	Eniro AB		1,263
	136,012		Ennis, Inc		2,194
	169,723	e	EW Scripps Co (Class A)		1,273
	43,200		Fuji Seal International, Inc		876
	19,963,000	*	Fung Choi Media Group Ltd		2,763
	118,000	e	Gakken Co Ltd		314
	709,080	e	Gannett Co, Inc		8,871
	211,847	e	Harte-Hanks, Inc		2,930
	80,817	*	Impresa SGPS		187
	546,112		Independent News & Media plc		160
	764,874		Informa plc		3,851
	2,159,329	e	John Fairfax Holdings Ltd		3,267
	139,848		John Wiley & Sons, Inc (Class A)		4,864
	615,506		Johnston Press plc		369
	265,095	e	Journal Communications, Inc (Class A)		976
	100,527	e	Kadokawa Holdings, Inc		2,257
	159,000		Kyodo Printing Co Ltd		515
	133,461	e	Lagardere S.C.A.		6,216
	39,929		Lambrakis Press S.A.		174
	135,494	*,e	Martha Stewart Living Omnimedia, Inc (Class A)		848
	2,376,997		McGraw-Hill Cos, Inc		59,757
	215,361	*	Mecom Group plc		602
	51	e	Media General, Inc (Class A)		0	^
	105,286	e	Meredith Corp		3,152
	375,360	*	MSCI, Inc (Class A)		11,118
	51,559	e	Multi-Color Corp		796
	322,344		New York Times Co (Class A)		2,617
	558,000	*	Next Media Ltd		71
	516,000		Oriental Press Group		61
	104,385	e	Orkla ASA		984
	397,957	e	PagesJaunes Groupe S.A.		5,160
	3,692,651		Pearson plc		45,499

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	112,821	*,e	Playboy Enterprises, Inc (Class B)	$	341
	323,068		PMP Ltd		190
	106,543		Primedia, Inc		268
	57,300		PRONEXUS, Inc		453
	46,980	e	Quebecor, Inc		1,073
	1,066,032		R.R. Donnelley & Sons Co		22,664
	161,375	e	RCS MediaGroup S.p.A.		337
	1,271,057		Reed Elsevier NV		14,341
	756,226		Reed Elsevier plc		5,660
	6,072		Roularta Media Group NV		143
	12,113	e	Sanoma-WSOY Oyj		267
	79,303	e	Schawk, Inc (Class A)		925
	79,263		Schibsted ASA		1,338
	131,508	e	Scholastic Corp		3,201
	1,770,180	*	Seat Pagine Gialle S.p.A.		596
	1,258,736	e	Singapore Press Holdings Ltd		3,449
	4,287		Spir Communication		132
	110,703		St. Ives Group plc		132
	154,568	e	Standard Register Co		909
	24,740	e	Telegraaf Media Groep NV		471
	954,897	e	Thomson Corp		32,019
	71,800	e	Toppan Forms Co Ltd		985
	1,327,844	e	Toppan Printing Co Ltd		12,574
	66,379	e	Torstar Corp		422
	69,130	e	Transcontinental, Inc		795
	427,491		Trinity Mirror PLC		1,174
	288,618		United Business Media Ltd		2,157
	247,638	*	Valassis Communications, Inc		4,428
	52,846	*	VistaPrint Ltd		2,682
	20,893		Washington Post Co (Class B)		9,780
	232,661	e	West Australian Newspapers Holdings Ltd		1,550
	253,862		Wolters Kluwer NV		5,422
	1,065,830	e	Yell Group plc		1,002
	460,597		Yellow Pages Income Fund		2,323
			TOTAL PRINTING AND PUBLISHING		381,377
RAILROAD TRANSPORTATION - 0.69%
	2,426,445	*,e	Asciano Group		3,543
	1,210,507		Burlington Northern Santa Fe Corp		96,635
	763,251		Canadian National Railway Co		37,590
	201,382	e	Canadian Pacific Railway Ltd		9,423
	2,537		Central Japan Railway Co		18,229
	2,132,155		CSX Corp		89,252
	9,022		Delachaux S.A.		687
	774,400		East Japan Railway Co		55,730
	1,009,812		Firstgroup PLC		6,676

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	181,616	*	Genesee & Wyoming, Inc (Class A)	$	5,507
	2,094,000	e	Guangshen Railway Co Ltd		846
	770,470		Hankyu Hanshin Holdings, Inc		3,691
	398,939	*,e	Kansas City Southern Industries, Inc		10,568
	1,538,138	e	MTR Corp		5,339
	2,154,053		Norfolk Southern Corp		92,861
	978,427		Stagecoach Group plc		2,546
	3,357,295		Union Pacific Corp		195,898
	5,791	e	West Japan Railway Co		21,934
			TOTAL RAILROAD TRANSPORTATION		656,955
REAL ESTATE - 0.59%
	1,875,214		Abacus Property Group		728
	39,965		Acanthe Developpement S.A.		80
	4,038		Affine S.A.		105
	2,528,000	e	Agile Property Holdings Ltd		2,975
	44,400		Airport Facilities Co Ltd		264
	153,714	*	Alerion Industries S.p.A.		119
	3,035,000		Allgreen Properties Ltd		2,435
	11,854		Allreal Holding AG.		1,453
	31,904		Alstria Office REIT-AG.		368
	3,339	*,e	American Realty Investors, Inc		39
	836,934		AMP NZ Office Trust		514
	524,284		Aspen Group		229
	2,962		Atenor Group		152
	1,387,382	e	Australand Property Group		649
	12,988,743		Ayala Land, Inc		3,153
	9,247,920	m	Ayala Land, Inc (Preference)		20
	21,762	*	Babis Vovos International Construction S.A.		157
	1,009,755	e	Beni Stabili S.p.A.		870
	336,814	*	Brioschi Sviluppo Immobiliare		116
	2,433,539		British Land Co plc		18,480
	40,000	e	Brookfield Properties Co		450
	660,030	e	Brookfield Properties Corp		7,484
	21,632		CA Immo International AG.		187
	87,874	*	CA Immobilien Anlagen AG.		1,137
	3,027,556		CapitaLand Ltd		7,995
	5,116,180		CapitaMall Trust		6,719
	272,093	e	Castellum AB		2,635
	66,000		Cathay Real Estate Development Co Ltd		27
	884,780	*,e	CB Richard Ellis Group, Inc (Class A)		10,387
	49,000		Central Pattana PCL		34
	2,575	*	Centro Properties Group		1
	4,232,157	e	Champion Real Estate Investment Trust		1,764
	5,420,028		Cheuk Nang Holdings Ltd		1,413
	1,424,192		Cheung Kong Holdings Ltd		18,072

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,000		China Aoyuan Property Group Ltd	$	4
	138,565	*,e	China Housing & Land Development, Inc		533
	3,290,000	e	China Resources Land Ltd		7,208
	1,929,920		China Vanke Co Ltd		2,425
	450,409	e	Chinese Estates Holdings Ltd		761
	615,875	e	City Developments Ltd		4,512
	274,317		Citycon Oyj		1,164
	36,040	*,e	CLS Holdings PLC		305
	22,819		Colonia Real Estate AG.		143
	7,846		ComBOTS AG.		70
	5,232		Compagnie Generale Immobiliere		1,277
	31,205	e	Consolidated-Tomoka Land Co		1,195
	79,675	*	Conwert Immobilien Invest AG.		1,095
	61,245		Corio NV		4,224
	4,985,000	e	Country Garden Holdings Co Ltd		1,801
	292,249		Cyrela Brazil Realty S.A.		3,802
	57,000	e	Daibiru Corp		496
	1,345,900		Daiman Development BHD		595
	155,985		Derwent London plc		3,041
	263,927	*,e	Desarrolladora Homex S.A. de C.V.		1,664
	46,356	e	Deutsche Euroshop AG.		1,625
	24,747	*,e	Deutsche Wohnen AG.		244
	111,240	e	Development Securities plc		602
	35,196		DIC Asset AG.		461
	136,737		Douja Promotion Groupe Addoha S.A.		2,132
	20,794		Dundee Real Estate Investment Trust		378
	132,416		DuPont Fabros Technology, Inc		1,765
	13,625,000		Erawan Group PCL		1,003
	33,309		Eurobank Properties Real Estate Investment Co		403
	40,323		Eurocommercial Properties NV		1,597
	205,621	e	Fabege AB		1,209
	780,000		Far East Consortium		215
	43,800		First Capital Realty, Inc		788
	763,392		FKP Property Group		512
	495,945	e	Forest City Enterprises, Inc (Class A)		6,631
	183,499	*,e	Forestar Real Estate Group, Inc		3,153
	52,544	e	Gecina S.A.		6,267
	3,538,100	*,e	Genting International plc		2,813
	143,099	*	Globe Trade Centre S.A.		1,202
	4,850,000	*	Glorious Property Holdings Ltd		2,754
	23,630		Goldcrest Co Ltd		715
	29,980	*	Government Properties Income Trust		720
	125,941		Grainger plc		599
	387,269	e	Great Portland Estates plc		1,638
	1,673,126		Growthpoint Properties Ltd		3,007
	1,567,136	e	Guangzhou R&F Properties Co Ltd		2,754

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	237,000	e	Guocoland Ltd	$	367
	1,096,254		Hammerson plc		6,908
	640,000		Hang Lung Group Ltd		3,204
	2,479,134		Hang Lung Properties Ltd		9,133
	248,500	e	Heiwa Real Estate Co Ltd		853
	91,582		Helical Bar plc		549
	1,226,000		Henderson Investment Ltd		93
	713,516		Henderson Land Development Co Ltd		4,695
	808,000		Ho Bee Investment Ltd		809
	353,000	*	Hong Fok Corp Ltd		169
	290,000	e	Hongkong Land Holdings Ltd		1,262
	477,801		Hopewell Holdings		1,501
	1,346,000	*,e	Hopson Development Holdings Ltd		2,341
	111,683		Hufvudstaden AB (Series A)		897
	1,937,632		Hysan Development Co Ltd		4,850
	20,527		ICADE		2,199
	4,217,100		IGB Corp BHD		2,181
	132,239		Immobiliare Grande Distribuzione		260
	596,178	e	IMMOFINANZ Immobilien Anlagen AG.		2,495
	3,545,897	e	ING Office Fund		1,752
	466,493	*	Inmobiliaria Colonial S.A.		124
	1,452		Intershop Holdings		411
	80,604	e	IVG Immobilien AG.		882
	57,004		IVR Prime Urban Developers Ltd		154
	54,200	b,e,m	Joint Corp		1
	242,518	e	Jones Lang LaSalle, Inc		11,488
	792,000		K Wah International Holdings Ltd		260
	71,813		Kardan NV		459
	647	e	Kenedix, Inc		256
	1,720,223	e	Keppel Land Ltd		3,346
	7,644,300		KLCC Property Holdings BHD		7,333
	86,338	e	Klepierre		3,425
	144,200		Klovern AB		461
	224,823		Kungsleden AB		1,493
	133,637,000		Lai Fung Holdings Ltd		4,311
	21,181	*	Lamda Development S.A.		222
	4,115,900		Land and Houses PCL		825
	120,400		Land and Houses PCL Co LTD		24
	3,146,100		Land and Houses PCL Co Reg		654
	802,216		Land Securities Group plc		8,013
	2,613		Leasinvest Real Estate SCA		220
	99,211	e	Leighton Holdings Ltd		3,166
	460,901	e	Liberty International plc		3,536
	4,669,852	e	Link Real Estate Investment Trust		10,280
	22,350,500	*	Lippo Karawaci Tbk PT		1,549
	152,000		Liu Chong Hing Investment		127

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	112,457	*,e	LoopNet, Inc	$	1,017
	70,441		MAC Services Group		117
	1,711,779		Macquarie Goodman Group		1,004
	35,779	e,m	Mapeley Ltd		114
	643,000	f	Megaworld Corp		20
	29,198	e	Mercialys S.A		1,160
	30,126,800	*	Metro Pacific Investments Corp		2,098
	2,068,929		Midland Holdings Ltd		1,727
	1,697,990		Mirvac Group		2,517
	2,057,889		Mitsubishi Estate Co Ltd		32,370
	1,759,902		Mitsui Fudosan Co Ltd		29,780
	1,084,000	*	Mongolia Energy Co ltd		385
	96,000	*	Musashino Kogyo Co Ltd		203
	4,856,666		New World China Land Ltd		2,300
	7,098,781	e	New World Development Ltd		15,278
	42,014		Nexity		1,674
	58,300	e	Nomura Real Estate Holdings, Inc		948
	604,400		Norwegian Property ASA		1,020
	2,028	e	NTT Urban Development Corp		1,862
	124,900		Parco Co Ltd		1,155
	26,010	*,e	Patrizia Immobilien AG.		137
	2,806	*,f	PIK Group (GDR)		11
	325,134		Pirelli & C Real Estate S.p.A.		305
	64,832	e	PSP Swiss Property AG.		3,754
	217,644		Quintain Estates & Development PLC		734
	78,844	*,e	Reading International, Inc		324
	1,296,778		Regus plc		2,077
	9,600,000	e	Renhe Commercial Holdings Co Ltd		1,932
	2,668,986		Rich Development Co Ltd		1,245
	6,450	e	Risa Partners, Inc		4,168
	32,900		Sankei Building Co Ltd		222
	190,000	e	SC Global Developments Ltd		217
	2,125,291		Segro plc		12,482
	491,064	e	Shaftesbury plc		2,804
	80,000		Shanghai Forte Land Co		23
	572,200		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		1,004
	15,180,000	e	Shanghai Real Estate Ltd		1,489
	132,000	e	Shenzhen Investment Ltd		51
	38,700	e	Shoei Co Ltd		311
	3,921,350	e	Shui On Land Ltd		2,252
	204,000	e	Singapore Land Ltd		785
	1,395,620	e	Sino Land Co		2,499
	4,267,000	e	Sino-Ocean Land Holdings Ltd		3,865
	11,599,652		SM Prime Holdings		2,571
	337,403		Societa Partecipazioni Finanziarie S.p.A.		82
	5,516		Societe de la Tour Eiffel		371

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,561,000	e	Soho China Ltd	$	1,371
	2,034,850		SP Setia BHD		2,369
	108,157	*	Sparkassen Immobilien AG.		826
	2,558,956		SPG Land Holdings Ltd		1,453
	223,951	e	Sponda Oyj		888
	201,798		ST Modwen Properties plc		716
	318,701	*,e	St. Joe Co		9,281
	413,289	e	Stewart Enterprises, Inc (Class A)		2,162
	2,344,664		Stockland Trust Group		8,439
	14,060		Sumitomo Real Estate Sales Co Ltd		503
	705,994	e	Sumitomo Realty & Development Co Ltd		12,922
	2,100,062		Sun Hung Kai Properties Ltd		30,944
	32,952	e	Swiss Prime Site AG.		1,741
	31,333		TAG Tegernsee Immobilien und Beteiligungs AG.		142
	731,000		TAI Cheung Holdings		378
	72,049		Technopolis plc		379
	40,000		Thomas Properties Group, Inc		116
	147,600		TOC Co Ltd		649
	1,625,197	e	Tokyo Tatemono Co Ltd		7,948
	202,000		Tokyotokeiba Co Ltd		353
	357,922	e	Tokyu Land Corp		1,431
	25,800	e	Tokyu Livable, Inc		217
	125,902	e	Unibail		26,152
	135,079		Unite Group PLC		568
	9,685,909	*	Unitech Corporate Parks plc		3,328
	1,617,714		Unitech Ltd		3,612
	624,000		United Industrial Corp Ltd		815
	20,552		Vastned Retail NV		1,323
	55,070		Wallenstam Byggnads AB (B Shares)		875
	9,379		Warehouses De Pauw SCA		422
	3,147		Wereldhave Belgium NV		230
	27,143		Wereldhave NV		2,673
	1,437,000	e	Wheelock & Co Ltd		4,710
	608,000		Wheelock Properties S Ltd		760
	59,713		Wihlborgs Fastigheter AB		1,107
	770,267		Wing Tai Holdings Ltd		919
	1,862,529		Workspace Group plc		655
	231,000	e	Yanlord Land Group Ltd		374
	1,384,907		YNH Property BHD		760
	3,189,000		Zhong An Real Estate Ltd		1,309
	36,357		Zueblin Immobilien Holding AG.		173
			TOTAL REAL ESTATE		560,708
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.42%
	153,625		A. Schulman, Inc		3,062
	157,000	*	Achilles Corp		255

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	36,114	*	AEP Industries, Inc	$	1,441
	189,396	e	Ansell Ltd		1,671
	650,982	e	Asics Corp		6,055
	81,000		Bando Chemical Industries Ltd		226
	1,948,207		Bayer AG.		134,991
	748,720	e	Bridgestone Corp		13,437
	11,335	*	CENTROTEC Sustainable AG.		145
	991,709		Cheng Shin Rubber Industry Co Ltd		2,098
	405,378		Cooper Tire & Rubber Co		7,127
	41,373		Deceuninck NV		106
	78,139	*	Deckers Outdoor Corp		6,630
	1,136,014	e	Denki Kagaku Kogyo KK		4,683
	1,224,614	*	Goodyear Tire & Rubber Co		20,855
	94,160		Hankook Tire Co Ltd		1,874
	13,299	e	Innoconcepts		46
	99,208	*,e	Metabolix, Inc		1,020
	224,867	e	Michelin (C.G.D.E.) (Class B)		17,641
	249,437	e	Mitsubishi Rayon Co Ltd		856
	64,000	*	Mitsuboshi Belting Co Ltd		263
	946,017	e	Mitsui Chemicals, Inc		3,372
	2,247,645	e	Newell Rubbermaid, Inc		35,266
	152,000	e	Nichias Corp		567
	130,900	e	Nifco, Inc		2,612
	35,000	*	Nitta Corp		538
	83,309	*	NOK Corp		1,242
	86,401	e	Nokian Renkaat Oyj		2,014
	32,880		Nolato AB (B Shares)		258
	69,000	e	Okamoto Industries, Inc		264
	3,023,611		Pirelli & C S.p.A.		1,619
	33,471		Puma AG. Rudolf Dassler Sport		11,115
	991,240		Sealed Air Corp		19,458
	52,000		Sekisui Jushi Corp		456
	420,000	*	Sekisui Plastics Co Ltd		1,811
	22,145		Semperit AG. Holding		838
	189,384	*,e	Skechers U.S.A., Inc (Class A)		3,246
	186,055	e	Spartech Corp		2,004
	4,715,321		SSL International plc		48,229
	892,221	e	Sumitomo Bakelite Co Ltd		4,731
	231,884		Sumitomo Rubber Industries, Inc		2,188
	43,000	e	Takiron Co Ltd		126
	202,011	e	Titan International, Inc		1,798
	51,300	e	Tokai Rubber Industries, Inc		566
	243,000		Toyo Tire & Rubber Co Ltd		585
	78,408	*,e	Trex Co, Inc		1,427
	381,422		Tupperware Corp		15,226
	58,695		Uponor Oyj		977

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,074		Viscofan S.A.	$	1,947
	6,570,000	*	Wai Chun Mining Industry Group Co Ltd		147
	161,770	e	West Pharmaceutical Services, Inc		6,569
	238,000	*	Yokohama Rubber Co Ltd		1,169
			TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		396,847
SECURITY AND COMMODITY BROKERS - 2.56%
	51,748		ABC Arbitrage		510
	510,000	e	ABG Sundal Collier ASA		636
	121,443		AGF Management Ltd		1,945
	39,700		Aizawa Securities Co Ltd		92
	784,952		Ameriprise Financial, Inc		28,517
	251,853	*	Artio Global Investors, Inc		6,586
	286,882		Australian Stock Exchange Ltd		8,909
	21,401		Avanza AB		442
	114,499		Azimut Holding S.p.A.		1,447
	116,380		Banca Finnat Euramerica S.p.A.		112
	120,345	e	BlackRock, Inc		26,093
	91,145		Bolsas y Mercados Espanoles		3,549
	46,503	*	Boursorama		550
	373,624	*,e	Broadpoint Securities Group, Inc		3,116
	994,240		Broadridge Financial Solutions, Inc		19,984
	83,618		BT Investment Management Ltd		214
	443,000		Bursa Malaysia BHD		1,046
	188,271		Calamos Asset Management, Inc (Class A)		2,459
	57,705	*	Canaccord Capital, Inc		550
	1,275,000		Capital Securities Corp		662
	5,504,964		Charles Schwab Corp		105,420
	934,000	e	China Everbright Ltd		2,123
	213,450	e	Close Brothers Group PLC		2,715
	274,140		CME Group, Inc		84,487
	83,600	e	Cohen & Steers, Inc		2,006
	230,151	e	Count Financial Ltd		315
	4,339,666		Credit Suisse Group		240,789
	676,439		Cromwell Group		412
	29,100	e,m	D Carnegie AB		74
	18,757		DAB Bank AG.		102
	148,750		Daewoo Securities Co Ltd		2,721
	1,560		Daishin Securities Co Ltd		21
	1,660,146		Daiwa Securities Group, Inc		8,563
	114,722	*	DeA Capital S.p.A.		272
	1,212,330	e	Deutsche Boerse AG.		99,081
	13,061	e	Diamond Hill Investment Group, Inc		757
	127,620	e	Duff & Phelps Corp		2,445
	77,056	*	Dundee Corp		803
	56,970	e	DundeeWealth, Inc		646

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,181,750	*	E*Trade Financial Corp	$	73,818
	356,774	e	Eaton Vance Corp		9,986
	275,212		Egyptian Financial Group-Hermes Holding		1,503
	59,039	e	Epoch Holding Corp		517
	61,448	e	Evercore Partners, Inc (Class A)		1,796
	230,279	e	Evolution Group plc		504
	482,835	e	F&C Asset Management plc		598
	78,893	*,e	FBR Capital Markets Corp		468
	178,918	*,e	FCStone Group, Inc		862
	266,161	e	Federated Investors, Inc (Class B)		7,019
	141,456	e	Fifth Street Finance Corp		1,546
	490,304		Franklin Resources, Inc		49,325
	140,593	e	GAGFAH S.A.		1,557
	38,753	e	GAMCO Investors, Inc (Class A)		1,771
	475,161	e	GFI Group, Inc		3,435
	16,748		Gluskin Sheff + Associates, Inc		313
	70,594		GMP Capital, Inc		897
	3,912,318		Goldman Sachs Group, Inc		721,235
	36,329		Gottex Fund Management Holdings Ltd		365
	62,821		Greenhill & Co, Inc		5,628
	292,450		Hana Financial Group, Inc		10,077
	85,592		Hellenic Exchanges S.A.		1,087
	1,884,220	e	Hong Kong Exchanges and Clearing Ltd		34,159
	179,027		Hyundai Securities Co		2,492
	512,134		ICAP plc		3,460
	203,000	e	Ichiyoshi Securities Co Ltd		1,393
	219,574	e	IGM Financial, Inc		8,708
	9,368		Indiabulls Financial Services Ltd		37
	412,920		Indiabulls Real Estate Ltd		2,333
	125,988	*	Interactive Brokers Group, Inc (Class A)		2,503
	713,648	*	IntercontinentalExchange, Inc		69,359
	29,827	*,e	International Assets Holding Corp		492
	1,485,208		Invesco Ltd		33,803
	305,346	*	Investment Technology Group, Inc		8,525
	621,723		IOOF Holdings Ltd		2,792
	1,104,900		iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		1,916
	17,400		Iwai Securities Co Ltd		142
	1,181,673		Janus Capital Group, Inc		16,756
	351,622	*	Jefferies Group, Inc		9,575
	85,821	e	JMP Group, Inc		829
	459	e	kabu.com Securities Co Ltd		555
	181,228	*	KBW, Inc		5,839
	3,486,000		KGI Securities Co Ltd		1,876
	7,723,701		Kim Eng Holdings Ltd		10,966
	1,256	*,e	KK DaVinci Advisors		125
	588,775	*,e	Knight Capital Group, Inc (Class A)		12,806

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	44,060		Korea Investment Holdings Co Ltd	$	1,309
	2,662,130		Kowloon Development Co Ltd		2,714
	348,935	*,e	LaBranche & Co, Inc		1,186
	272,769	e	Lazard Ltd (Class A)		11,268
	6,193,072		Legal & General Group plc		8,690
	1,838,464	e	Legg Mason, Inc		57,048
	244,242	e	London Stock Exchange Group plc		3,341
	327,241		Macquarie Group Ltd		16,972
	1,707,230		Man Group plc		9,036
	161,100	*	MarketAxess Holdings, Inc		1,941
	68,400	e	Marusan Securities Co Ltd		419
	141,000	e	Matsui Securities Co Ltd		1,150
	1,203,020	*,e	MF Global Ltd		8,746
	27,416		Mirae Asset Securities Co Ltd		1,638
	50,000	e	Mito Securities Co Ltd		120
	461,000	e	Mizuho Investors Securities Co Ltd		472
	1,253	e	Monex Beans Holdings, Inc		454
	8,147,897		Morgan Stanley		251,606
	73,801	*	Morningstar, Inc		3,584
	805,838	*	Nasdaq Stock Market, Inc		16,963
	45,214		NeoNet AB		113
	4,355,966	e	Nomura Holdings, Inc		26,835
	111,996		Nordnet AB (Series B)		373
	790,121	e	NYSE Euronext		22,827
	189,000		Okasan Holdings, Inc		842
	61,809	e	Oppenheimer Holdings, Inc		1,505
	299,467		optionsXpress Holdings, Inc		5,175
	132,283	*,e	Penson Worldwide, Inc		1,288
	517,000	*,m	Peregrine Investment Holdings		0	^
	84,218	e	Perpetual Trustees Australia Ltd		2,908
	111,501	*,e	Piper Jaffray Cos		5,321
	301,893	e	Platinum Asset Mangement Ltd		1,444
	8,169,585		Polaris Securities Co Ltd		4,816
	37,174	*,e	Pzena Investment Management, Inc (Class A)		304
	486,080		Raymond James Financial, Inc		11,316
	118,801		Reliance Capital Ltd		2,267
	20,412		Renta 4 S.A.		158
	995,029		RMB Holdings Ltd		3,619
	60,170		Samsung Securities Co Ltd		3,508
	104,162	e	Sanders Morris Harris Group, Inc		616
	151,715		Schroders plc		2,650
	748,469		SEI Investments Co		14,730
	285,000		Shenyin Wanguo HK Ltd		130
	1,392,789	e	Shinko Securities Co Ltd		5,074
	1,598,901		Singapore Exchange Ltd		9,557
	1,106,164	f	Spark Infrastructure Group		1,137

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	999		Sparx Group Co Ltd	$	107
	84,215	e	Sprott, Inc		314
	148,261	*,e	Stifel Financial Corp		8,140
	682,000		Sun Hung Kai & Co Ltd		516
	294,356		Suramericana de Inversiones S.A.		3,836
	9,351		Swissquote Group Holding S.A.		492
	170,554	e	SWS Group, Inc		2,456
	778,492	e	T Rowe Price Group, Inc		35,577
	304,000		Tai Fook Securities Group Ltd		112
	170,000	e	Takagi Securities Co Ltd		312
	1,738,765	*	TD Ameritrade Holding Corp		34,115
	613	e,m	Teton Advisors, Inc		0	^
	145,535	*,e	Thomas Weisel Partners Group, Inc		777
	175,285	e	TMX Group, Inc		5,879
	379,000	e	Tokai Tokyo Securities Co Ltd		1,195
	86,991		Tong Yang Investment Bank		967
	82,000		Toyo Securities Co Ltd		170
	6,829		Union Financiere de France BQE S.A.		260
	2,303,565		UOB-Kay Hian Holdings Ltd		2,469
	68,827	e	US Global Investors, Inc (Class A)		849
	8,471	e	Value Line, Inc		261
	94,978	*	Vostok Nafta Investment Ltd		350
	4,652		VZ Holding AG.		338
	260,910		Waddell & Reed Financial, Inc (Class A)		7,423
	8,715	*	Westpac Funds Management Ltd		661
	27,318	e	Westwood Holdings Group, Inc		948
	103,770		Woori Investment & Securities Co Ltd		1,475
			TOTAL SECURITY AND COMMODITY BROKERS		2,424,088
SOCIAL SERVICES - 0.01%
	116,684	*	Capital Senior Living Corp		712
	95,794		Care UK plc		578
	1,123,992	e	Gunns Ltd		1,195
	13,336		Korian		370
	6,486	*,e	Nobel Learning Communities, Inc		61
	69,360	*	Providence Service Corp		809
	154,514	*	Res-Care, Inc		2,195
	423,627		Ryman Healthcare Ltd		560
	201,078	*,e	Southern Cross Healthcare Ltd		427
	43,700	e	TEMP HOLDINGS CO Ltd		396
			TOTAL SOCIAL SERVICES		7,303
SPECIAL TRADE CONTRACTORS - 0.07%
	21,393	e	Alico, Inc		629
	177,670	*,e	AsiaInfo Holdings, Inc		3,548
	10,072		Bauer AG.		423

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	242,062	*	Cape plc	$	992
	111,442	e	Chemed Corp		4,891
	27,900	e	Chudenko Corp		461
	247,056	e	Comfort Systems USA, Inc		2,863
	187,800	e	COMSYS Holdings Corp		2,059
	58,200		Daimei Telecom Engineering Corp		574
	229,485	*	Dycom Industries, Inc		2,823
	312,426		eaga plc		723
	423,675	*	EMCOR Group, Inc		10,727
	40,200		Hibiya Engineering Ltd		375
	55,873	e	Homeserve plc		1,422
	206,954	*,e	Insituform Technologies, Inc (Class A)		3,961
	58,645	*	Integrated Electrical Services, Inc		472
	123,000	e	Kandenko Co Ltd		851
	135,495		Kinden Corp		1,134
	103,900		Kyowa Exeo Corp		1,020
	40,000		Kyudenko Corp		254
	109,674	*	Layne Christensen Co		3,515
	408,700		Metalurgica Gerdau S.A.		6,840
	608,146	*,e	Quanta Services, Inc		13,458
	82,000		Sanki Engineering Co Ltd		688
	6,500		Secom Techno Service Co Ltd		175
	94,721		Severfield-Rowen plc		270
	317,179	e	Spice plc		416
	132,000		Taihei Kogyo Co Ltd		404
	59,300		Taikisha Ltd		797
	97,000	e	Takasago Thermal Engineering Co Ltd		842
	590,146	*,b	Timbercorp Ltd		23
	63,000		Toenec Corp		390
	67,000		Yurtec Corp		438
			TOTAL SPECIAL TRADE CONTRACTORS		68,458
STONE, CLAY, AND GLASS PRODUCTS - 0.60%
	3,235,611		3M Co		238,787
	930,608		Ambuja Cements Ltd		1,928
	545,835	e	Anhui Conch Cement Co Ltd		3,638
	172,073	e	Apogee Enterprises, Inc		2,585
	2,961,081		Asahi Glass Co Ltd		23,916
	1,998,682		Asia Cement Corp		2,238
	136,203		Associated Cement Co Ltd		2,322
	595,130	e	Boral Ltd		3,197
	266,869		Bradespar S.A.		4,911
	111,418		Buzzi Unicem S.p.A RSP		1,198
	97,946	e	Buzzi Unicem S.p.A.		1,691
	127,979	*	Cabot Microelectronics Corp		4,461
	95,888	e	CARBO Ceramics, Inc		4,943

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	59,534		Cementir S.p.A.	$	311
	392,745		Cementos Argos S.A.		2,248
	13,548	e	Cementos Portland Valderrivas S.A.		707
	11,297,226	*	Cemex S.A. de C.V.		14,631
	274,000		Central Glass Co Ltd		1,218
	187,862	e	Cimpor Cimentos de Portugal S.A.		1,552
	285,988	*,e	Coal of Africa Ltd		560
	320,192	*	Cookson Group plc		2,104
	1,442,535		CRH plc		39,906
	50,528		CRH plc (IRELAND)		1,403
	1,905	*	Daldrup & Soehne AG.		66
	6,116		Dyckerhoff AG.		381
	135,874		Eagle Materials, Inc		3,883
	796,598		Egypt Kuwait Holding Co		1,912
	74,954	e	FLSmidth & Co AS		4,081
	529,408		Gentex Corp		7,491
	7,440,000		Goldsun Development & Construction Co Ltd		3,853
	12,876		GranitiFiandre S.p.A.		71
	35,388		Grasim Industries Ltd		2,040
	1,088,603	e	Grupo Carso S.A. de C.V. (Series A1)		3,561
	689		H+H International AS		30
	783		HeidelbergCement AG.		51
	422,955		Holcim Ltd		29,019
	169,235	e	Industrias Penoles S.A. de C.V.		2,835
	442,327		Inversiones Argos S.A.		3,689
	18,116		Italcementi S.p.A.		279
	11,270		Italmobiliare S.p.A.		552
	21,421		Italmobiliare S.p.A. RSP		677
	651,953		Jaiprakash Associates Ltd		3,219
	703,537	*	James Hardie Industries NV		4,878
	49,000		Krosaki Harima Corp		86
	707,920		Lafarge Malayan Cement BHD		1,282
	161,617	e	Lafarge S.A.		14,462
	206,000		Luks Group Vietnam Holdings Ltd		106
	210,547		Marshalls plc		420
	137,582	e	Martin Marietta Materials, Inc		12,667
	288,855	e	Morgan Crucible Co plc		794
	297,632		NGK Insulators Ltd		6,897
	20,000		Nichiha Corp		135
	131,000		Nihon Yamamura Glass Co Ltd		438
	423,117	e	Nippon Sheet Glass Co Ltd		1,414
	110,000	*,e	Noritake Co Ltd		339
	451,383	*,e	Owens Corning, Inc		10,134
	1,233,566	*	Owens-Illinois, Inc		45,518
	25,072		Pargesa Holding S.A.		2,165
	23,100	e	Pigeon Corp		919

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	585,380		Pretoria Portland Cement Co Ltd	$	2,642
	3,560,400		PT Indocement Tunggal Prakarsa Tbk		3,905
	3,244,000		PT Semen Gresik Persero Tbk		2,115
	28,386		Sa des Ciments Vicat		2,174
	4,800		Siam Cement PCL		32
	342,200		Siam Cement PCL reg		2,284
	3,206		Sika AG.		4,328
	6,018		STO AG.		456
	659,193	e	Sumitomo Osaka Cement Co Ltd		1,248
	972,220	e	Taiheiyo Cement Corp		1,300
	3,567,965		Taiwan Cement Corp		4,007
	1,031,022		Taiwan Glass Industrial Corp		818
	1,454,000	*	TCC International Holdings Ltd		659
	8,761		Titan Cement Co S.A.		303
	176,951	e	Toto Ltd		1,108
	427,401	*	Turk Sise ve Cam Fabrikalari AS		455
	217,249	*,e	US Concrete, Inc		376
	128,160	*,e	USG Corp		2,202
	529		Vetropack Holding AG.		901
	137,998	e	Wienerberger AG.		2,847
	852,000		Xinyi Glass Holdings Co Ltd		598
	29,932		Zignago Vetro S.p.A.		169
			TOTAL STONE, CLAY, AND GLASS PRODUCTS		565,726
TEXTILE MILL PRODUCTS - 0.05%
	156,331	e	Albany International Corp (Class A)		3,033
	365,973	e	Alfa S.A. de C.V. (Class A)		1,769
	178,000		Atsugi Co Ltd		240
	92,652		Cheil Industries, Inc		4,018
	153,000	e	Daiwabo Co Ltd		636
	5,670,415		Far Eastern Textile Co Ltd		6,650
	775,220		Formosa Taffeta Co Ltd		518
	36,861		Hyosung Corp		2,118
	248,218		Interface, Inc (Class A)		2,060
	91,000	e	Japan Wool Textile Co Ltd		689
	326,000	e	Kurabo Industries Ltd		679
	421,000	e,m	Li Heng Chemical Fibre Technologies Ltd		117
	238,292	*,e	Mohawk Industries, Inc		11,364
	25,340	e	Nisshinbo Industries, Inc		270
	238,000		Nitto Boseki Co Ltd		469
	100,555	e	Oxford Industries, Inc		1,981
	1,416,000		Pacific Textile Holdings Ltd		493
	511,000	*	Ruentex Industries Ltd		668
	654,930	e	Seiren Co Ltd		4,297
	907,981		Teijin Ltd		2,832
	496,000		Texwinca Holdings Ltd		392

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	484,000		Unitika Ltd	$	431
	713,000	*	Victory City International Hlds		106
			TOTAL TEXTILE MILL PRODUCTS		45,830
TOBACCO PRODUCTS - 1.14%
	10,832,407		Altria Group, Inc		192,925
	155,376		Australian Agricultural Co Ltd		199
	161,700		British American Tobacco Malaysia BHD		2,058
	4,006,460		British American Tobacco plc		125,689
	696,265		Fortune Brands, Inc		29,925
	3,480,612	e	Huabao International Holdings Ltd		3,732
	1,483,407		Imperial Tobacco Group plc		42,862
	1,437,093		ITC Ltd		6,962
	6,037		Japan Tobacco, Inc		20,714
	1,146,240		Lorillard, Inc		85,166
	11,082,990		Philip Morris International, Inc		540,185
	138,835		Souza Cruz S.A.		4,875
	629,761	e	Swedish Match AB		12,647
	148,085	e	Universal Corp		6,193
	185,336	e	Vector Group Ltd		2,888
			TOTAL TOBACCO PRODUCTS		1,077,020
TRANSPORTATION BY AIR - 0.44%
	34,861	*	ACE Aviation Holdings, Inc (Class A)		164
	38,697		Aegean Airlines S.A.		248
	232,158	*	AER Lingus		255
	146,225	e	Aeroports de Paris		13,158
	70,496	*	Air Berlin plc		385
	5,620,600		Air China Ltd		3,242
	105,675	e	Air France-KLM		1,921
	51,196	*,e	Air Methods Corp		1,667
	2,131,780		Air New Zealand Ltd		1,863
	343,714	*	Air Transport Services Group, Inc		1,189
	2,827,100	*	AirAsia BHD		1,144
	589,484	*,e	Airtran Holdings, Inc		3,684
	214,943	*,e	Alaska Air Group, Inc		5,758
	140,075	*,e,m	Alitalia S.p.A.		91
	563,008	*,e	All Nippon Airways Co Ltd		1,618
	76,565	*,e	Allegiant Travel Co		2,916
	1,186,790	*	AMR Corp		9,435
	94,866	*	Atlas Air Worldwide Holdings, Inc		3,033
	628,243		Auckland International Airport Ltd		844
	703,499		BBA Aviation plc		1,780
	2,362,000	*	Beijing Capital International Airport Co Ltd		1,469
	164,382	*,e	Bristow Group, Inc		4,881
	3,679,196	e	British Airways plc		12,965

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,191,504		Cathay Pacific Airways Ltd	$	3,461
	1,848,127	*	China Airlines		618
	1,355,914	*,e	Continental Airlines, Inc (Class B)		22,291
	271,152		Copa Holdings S.A. (Class A)		12,064
	6,136,252	*,e	Delta Air Lines, Inc		54,981
	244,329	*	easyJet plc		1,481
	1,286,382	*	Eva Airways Corp		506
	1,909,169		FedEx Corp		143,607
	69,408		Finnair Oyj		420
	17,852	e	Flughafen Wien AG.		927
	4,996		Flughafen Zuerich AG.		1,456
	191,464	*,b,m	FLYi, Inc		1
	5,007	e	Fraport AG. Frankfurt Airport Services Worldwide		266
	1,035,854	*	Gemina S.p.A.		999
	607,493	e	Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		1,744
	433,447	*	Hawaiian Holdings, Inc		3,580
	40,000		Hong Kong Aircraft Engineerg		478
	121,817		Iberia Lineas Aereas de Espana		379
	713,705	*,e	Japan Airlines Corp		1,050
	2,088,746	*,e	JetBlue Airways Corp		12,491
	89,858	*	Korean Air Lines Co Ltd		3,661
	277,955		Lan Airlines S.A.		3,615
	3,137,680		Macquarie Airports		7,861
	499,066		Malaysian Airline System BHD		430
	28,250	*	Norwegian Air Shuttle AS		558
	74,632	*	PHI, Inc		1,514
	3,511,100		Qantas Airways Ltd		8,859
	185,866	*,e	Republic Airways Holdings, Inc		1,734
	70,774	*	Ryanair Holdings plc		353
	44,700	*	Ryanair Holdings plc (ADR)		1,298
	96	*,m	SAir Group		0	^
	1,195,915	*,e	SAS AB		849
	23,664		SAVE S.p.A.		202
	136,272		Singapore Airlines Ltd		1,333
	724,328		Singapore Airport Terminal Services Ltd		1,162
	325,416		Skywest, Inc		5,395
	2,814,225		Southwest Airlines Co		27,017
	712,108	e	UAL Corp		6,566
	868,139	*,e	US Airways Group, Inc		4,080
	1,753,101	*,e	Virgin Blue Holdings Ltd		665
			TOTAL TRANSPORTATION BY AIR		413,662
TRANSPORTATION EQUIPMENT - 2.75%
	139,169		A.O. Smith Corp		5,302
	221,465	*,e	AAR Corp		4,859
	23,074		Accell Group		1,098

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	63,772	*	Aerovironment, Inc	$	1,791
	59,600	*	Aisan Industry Co Ltd		432
	500,175	*	Aisin Seiki Co Ltd		12,203
	53,400	e	Akebono Brake Industry Co Ltd		393
	2,438,223	e	American Axle & Manufacturing Holdings, Inc		17,263
	62,711	e	American Railcar Industries, Inc		665
	109,218	*,e	Amerigon, Inc (Class A)		803
	398,870	e	ArvinMeritor, Inc		3,119
	122,182	*	ATC Technology Corp		2,414
	2,296,457		Austal Ltd		5,267
	926,508	e	Autoliv, Inc		31,131
	6,924,973		BAE Systems plc		38,647
	705,239	e	Bayerische Motoren Werke AG.		34,005
	7,594		Bayerische Motoren Werke AG. (Preference)		253
	363,074	*,e	BE Aerospace, Inc		7,312
	41,922	e	Beneteau S.A.		723
	3,632,140		Boeing Co		196,681
	3,034,191	e	Bombardier, Inc		14,085
	32,128		Brembo S.p.A.		267
	506,645	e	Brunswick Corp		6,070
	196,000	*	BW Offshore Ltd		225
	967,058	e	Calsonic Kansei Corp		2,736
	18,860	*	Carraro S.p.A		76
	2,518,000		China South Locomotive and Rolling Stock Corp		1,465
	257,157		Clarcor, Inc		8,064
	424,463		Cobham plc		1,485
	146,297	*	Cogo Group, Inc		895
	11,359		Compagnie Plastic-Omnium S.A.		307
	3,455		Construcciones y Auxiliar de Ferrocarriles S.A.		1,759
	692,851	e	Cosco Corp Singapore Ltd		590
	508,030		CSBC Corp Taiwan		504
	116,811		Daewoo Shipbuilding & Marine Engineering Co Ltd		1,705
	31,548	e	Daihatsu Motor Co Ltd		322
	4,151,269		DaimlerChrysler AG. (EUR)		209,003
	551,278	*,e	Dana Holding Corp		3,754
	1,270,113	*,e	Denso Corp		37,354
	7,776,000	e	Denway Motors Ltd		3,462
	37,684		Doosan Heavy Industries and Construction Co Ltd		2,156
	64,070	*,e	Dorman Products, Inc		962
	65,064	e	Ducommun, Inc		1,230
	41,374		Elbit Systems Ltd		2,801
	33,866		ElringKlinger AG.		695
	761,595		Empresa Brasileira de Aeronautica S.A.		4,406
	983,230	e	European Aeronautic Defence and Space Co		22,079
	48,200	*,e	Exedy Corp		1,062
	9,620		Faiveley S.A.		827

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	61,700		FCC Co Ltd	$	1,075
	79,724	*,e	Federal Mogul Corp (Class A)		962
	287,483	e	Federal Signal Corp		2,067
	105,075	e	Fiat S.p.A.		1,352
	105,640		Fleetwood Corp Ltd		815
	477,023	*	Force Protection, Inc		2,605
	16,356,153	*	Ford Motor Co		117,928
	69,067	e	Freightcar America, Inc		1,678
	65,239	*,e	Fuel Systems Solutions, Inc		2,348
	1,174,000	e	Fuji Heavy Industries Ltd		4,564
	151,100	*,e	Futaba Industrial Co Ltd		633
	6,615,000	e	Geely Automobile Holdings Ltd		1,801
	257,312	*,e	GenCorp, Inc		1,379
	2,077,668		General Dynamics Corp		134,218
	50,704	*	GenTek, Inc		1,929
	604,011		Genuine Parts Co		22,989
	4,111	e	Georg Fischer AG.		1,078
	313,000		Giant Manufacturing Co Ltd		846
	1,941,343		GKN plc		3,528
	1,385,998		Goodrich Corp		75,315
	84,246	e	Greenbrier Cos, Inc		987
	139,497	e	Group 1 Automotive, Inc		3,745
	23,835		Haldex AB		221
	169,585		Hampson Industries plc		197
	1,176,301	e	Harley-Davidson, Inc		27,055
	340,963		Harsco Corp		12,073
	115,334	e	Heico Corp		5,001
	107,377		Hero Honda Motors Ltd		3,733
	298,967	*	Hino Motors Ltd		1,136
	3,530,780	*,e	Honda Motor Co Ltd		108,757
	5,463,553		Honeywell International, Inc		202,972
	268,000		Hong Leong Asia Ltd		409
	49,070		Hyundai Heavy Industries		7,496
	13,440		Hyundai Mipo Dockyard		1,420
	79,190		Hyundai Mobis		11,123
	201,781		Hyundai Motor Co		19,095
	48,790		Hyundai Motor Co Ltd Preference		1,694
	203,045		IMMSI S.p.A.		254
	26,310	e	Indus Holding AG.		448
	3,968,100	*	Isuzu Motors Ltd		8,399
	188,022		Japan Tecseed Co Ltd		1,005
	28,000	e	Japan Vilene Co Ltd		157
	297,590		Jardine Cycle & Carriage Ltd		5,134
	346,000		Jaya Holdings Ltd		113
	327,843	e	JTEKT Corp		3,820
	153,387		Kaman Corp		3,371

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	33,600	e	Kanto Auto Works Ltd	$	338
	955,646	e	Kawasaki Heavy Industries Ltd		2,427
	2,706,280		Keppel Corp Ltd		15,562
	60,000		Kinki Sharyo Co Ltd		548
	133,000	e	Koito Manufacturing Co Ltd		1,845
	600	*,b	Lear Corp		0	^
	71,598		Linamar Corp		953
	49,483	*,e	LMI Aerospace, Inc		496
	2,069,783		Lockheed Martin Corp		161,610
	459,869		Magna International, Inc (Class A)		19,554
	168,454	*	Magna International, Inc (Class A)		7,179
	222,468		Mahindra & Mahindra Ltd		4,084
	46,885		MAN AG.		3,870
	90,043		Maruti Udyog Ltd		3,185
	393,185	*,e	Mazda Motor Corp		880
	1,192,863		Meggitt plc		4,444
	21,323		Mekonomen AB		392
	27,768		Metka S.A.		357
	51,130	*,e	Miller Industries, Inc		562
	74,000		Mitsuba Corp		341
	2,275,000	*,e	Mitsubishi Motors Corp		3,751
	3,463,988	e	Mitsui Engineering & Shipbuilding Co Ltd		8,991
	87,600	e	Modec, Inc		1,792
	83,021		MTU Aero Engines Holding AG.		3,931
	25,000	*	Musashi Seimitsu Industry Co Ltd		478
	129,000	e	Nabtesco Corp		1,539
	66,700		Namura Shipbuilding Co Ltd		402
	451,289	*	Navistar International Corp		16,887
	361,052	e	NHK Spring Co Ltd		2,980
	63,000		Nippon Seiki Co Ltd		716
	126,000		Nippon Sharyo Ltd		811
	76,000		Nissan Shatai Co Ltd		610
	51,000		Nissin Kogyo Co Ltd		744
	848,000	*,m	Norstar Founders Group Ltd		1
	640,951		Novatek Microelectronics Corp Ltd		1,515
	1,024,194	e	NSK Ltd		6,355
	357,799	*	Orbital Sciences Corp		5,356
	775,644		Oshkosh Truck Corp		23,991
	1,454,025	e	Paccar, Inc		54,831
	20,392		Peugeot S.A.		622
	196,290	e	Piaggio & C S.p.A.		427
	114,116		Pixart Imaging, Inc		1,015
	152,811		Polaris Industries, Inc		6,232
	505,556		Porsche AG.		39,765
	29,057	e	Portec Rail Products, Inc		276
	137,000		Press Kogyo Co Ltd		275

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	434,102	e	Renault S.A.	$	20,242
	58,245		Rieter Holding AG.		13,191
	106,000		Riken Corp		384
	1,369,240		Rolls-Royce Group plc		10,302
	6,994		Rosenbauer International AG.		317
	88,847	e	Saab AB (Class B)		1,064
	231,400		Samsung Heavy Industries Co Ltd		5,028
	161,000		Sanden Corp		457
	136,000	e	Sasebo Heavy Industries Co Ltd		282
	42,492	e	Scania AB (B Shares)		527
	4,148,059		SembCorp Marine Ltd		9,364
	754,920		Senior PLC		745
	57,816	e	Shimano, Inc		2,499
	65,800	e	Showa Corp		402
	771,134	e	Singapore Technologies Engineering Ltd		1,505
	971,000		Sinotruk Hong Kong Ltd		1,125
	40,568		Sogefi S.p.A.		96
	180,538	e	Spartan Motors, Inc		928
	500,056	*,e	Spirit Aerosystems Holdings, Inc (Class A)		9,031
	112,266	*,e	Standard Motor Products, Inc		1,706
	50,564		STX Shipbuilding Co Ltd		624
	438,575	e	Sumitomo Precision Products Co Ltd		1,622
	124,126	e	Superior Industries International, Inc		1,763
	647,553	e	Suzuki Motor Corp		15,113
	33,700		Tachi-S Co Ltd		283
	43,200	*,e	Takata Corp		790
	228,640		Tata Motors Ltd		2,810
	270,971	*	Tenneco, Inc		3,533
	648,628	e	Thales S.A.		32,177
	137,327	e	Thor Industries, Inc		4,250
	27,239	*,e	Todd Shipyards Corp		448
	72,400	*,e	Tokai Rika Co Ltd		1,299
	982,053	e	Tomkins PLC		2,960
	274,000		Topy Industries Ltd		604
	37,000	e	Toyo Electric Manufacturing Co Ltd		346
	126,146	e	Toyoda Gosei Co Ltd		3,689
	58,900	*,e	Toyota Auto Body Co Ltd		1,148
	25,473	*,e	Toyota Industries Corp		700
	4,540,137		Toyota Motor Corp		180,565
	191,492	*	TransDigm Group, Inc		9,538
	353,181	e	Trelleborg AB (B Shares)		2,042
	11,321		Trigano S.A.		232
	247,758	e	Trinity Industries, Inc		4,259
	93,482	e	Triumph Group, Inc		4,486
	678,887	*,e	TRW Automotive Holdings Corp		11,371
	78,500		TS Tech Co Ltd		1,388

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	51,455	e	Umeco PLC	$	226
	31,200	e	Unipres Corp		443
	4,356,427		United Technologies Corp		265,438
	146,866	e	Valeo S.A.		3,865
	48,883	e	Volkswagen AG.		8,035
	223,418		Volkswagen AG. (Preference)		26,021
	54,603	e	Volvo AB (A Shares)		490
	142,125	e	Volvo AB (B Shares)		1,315
	340,000		Weichai Power Co Ltd		1,792
	145,702	e	Westinghouse Air Brake Technologies Corp		5,468
	147,974	*,e	Winnebago Industries, Inc		2,177
	65,163	*	Wonder Auto Technology, Inc		782
	144,443	e	Yamaha Motor Co Ltd		1,781
	918,258		Yulon Motor Co Ltd		1,055
	57,432	e	Zodiac S.A.		2,278
			TOTAL TRANSPORTATION EQUIPMENT		2,604,953
TRANSPORTATION SERVICES - 0.19%
	517,135		All America Latina Logistica S.A.		3,987
	94,870	e	Ambassadors Group, Inc		1,485
	100,167	e	Autostrada Torino-Milano S.p.A.		1,288
	1,004,299		Autostrade S.p.A.		24,352
	731,231	e	CH Robinson Worldwide, Inc		42,230
	3,964,000		China Travel International Inv HK		783
	27,587		Cintra Concesiones de Infraestructuras de Transporte S.A.		321
	21,612		Clarkson plc		296
	194,000		CWT Ltd		90
	36,808		D/S Norden		1,389
	250,676		Deutsche Lufthansa AG.		4,442
	2,566		Dfds AS		180
	87,100	*,e	Dynamex, Inc		1,422
	751,166	e	Expeditors International Washington, Inc		26,403
	71,824	e	Flight Centre Ltd		947
	154,376		Freightways Ltd		342
	176,592	e	GATX Corp		4,936
	37,400	*	HIS Co Ltd		772
	7,585		Hopewell Highway Infrastructure Ltd		5
	266,179	*	Hub Group, Inc (Class A)		6,082
	195,202	*,e	Interval Leisure Group, Inc		2,436
	34,100	e	Kintetsu World Express, Inc		798
	3,454		Kuoni Reisen Holding		1,283
	640,000	*	Macau Success Ltd		28
	78,950		Mainfreight Ltd		303
	39,104		Oesterreichische Post AG.		1,082
	215,888	*	Orbitz Worldwide, Inc		1,334
	199,102	e	Pacer International, Inc		769

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	17,360		Panalpina Welttransport Holding AG.	$	1,434
	3,555,300		PLUS Expressways BHD		3,421
	162,000	e	Senko Co Ltd		677
	1,137,000		Sincere Navigation		1,275
	60,800		Societa Iniziative Autostradali e Servizi S.p.A.		538
	20,800		Toho Real Estate Co Ltd		120
	1,620,772	e	Toll Holdings Ltd		12,197
	19,691	e	TUI AG.		203
	54,059	*	Universal Travel Group		697
	1,748,786		UTI Worldwide, Inc		25,322
	129,762		Wincanton PLC		490
	18,100	e	Yusen Air & Sea Service Co Ltd		234
			TOTAL TRANSPORTATION SERVICES		176,393
TRUCKING AND WAREHOUSING - 0.43%
	154,941	e	Arkansas Best Corp		4,639
	27,800	e	ASKUL Corp		604
	101,856	*	Big Yellow Group plc		610
	198,827	*	Celadon Group, Inc		2,249
	370,514		Con-way, Inc		14,198
	2,044,312		Deutsche Post AG.		38,292
	285,130	e	DSV AS		5,084
	143,073	e	Forward Air Corp		3,312
	302,000	e	Fukuyama Transporting Co Ltd		1,612
	266,749	e	Heartland Express, Inc		3,841
	57,600	e	Hitachi Transport System Ltd		801
	334,654	e	J.B. Hunt Transport Services, Inc		10,752
	143,000		Keppel Telecommunications & Transportation Ltd		147
	1,148,758		Kerry Properties Ltd		6,144
	373,201	e	Landstar System, Inc		14,204
	83,220	*	Marten Transport Ltd		1,420
	115,000		Maruzen Showa Unyu Co Ltd		397
	76,049	e	Mitsubishi Logistics Corp		921
	112,000	e	Mitsui-Soko Co Ltd		425
	98,460		Mullen Group Ltd		1,450
	92,813	e	Neopost S.A.		8,330
	2,811,883		Nippon Express Co Ltd		11,434
	93,000	e	Nippon Konpo Unyu Soko Co Ltd		1,109
	3,154	e	Norbert Dentressangle		203
	157,698	*,e	Old Dominion Freight Line		4,799
	8,164	*,e	Patriot Transportation Holding, Inc		616
	8,018		Piraeus Port Authority		159
	92,606	*,e	Saia, Inc		1,489
	398,000		Sankyu, Inc		1,716
	304,000		Seino Holdings Corp		2,631
	49,000	e	Shibusawa Warehouse Co Ltd		186

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	147,000	e	Sumitomo Warehouse Co Ltd	$	711
	1,376,184		TNT NV		36,934
	94,156		TransForce, Inc		743
	3,439,444		United Parcel Service, Inc (Class B)		194,225
	44,609	e	Universal Truckload Services, Inc		736
	41,950	*,e	USA Truck, Inc		533
	105	e	VANTEC CORP		146
	254,121	e	Werner Enterprises, Inc		4,734
	1,129,599		Yamato Transport Co Ltd		18,561
	314,720	*,e	YRC Worldwide, Inc		1,401
			TOTAL TRUCKING AND WAREHOUSING		402,498
WATER TRANSPORTATION - 0.24%
	157,158	e	Alexander & Baldwin, Inc		5,043
	56,594	*,e	American Commercial Lines, Inc		1,648
	109,926		Anek Lines S.A.		140
	177		AP Moller - Maersk AS (Class A)		1,183
	400		AP Moller - Maersk AS (Class B)		2,752
	5,119,474	e,m	Babcock & Brown Infrastructure Group		239
	56,967	e	Bourbon S.A.		2,626
	1,588,289		Carnival Corp		52,858
	33,720	e	Carnival plc		1,149
	469,000		CH Offshore Ltd		230
	4,405,300	*,e	China Shipping Container Lines Co Ltd		1,603
	1,670,000	e	China Shipping Development Co Ltd		2,112
	292,000		Chu Kong Shipping Development		44
	14,966		Compagnie Maritime Belge S.A.		461
	3,068,875	e	COSCO Holdings		3,675
	84,090		D/S Torm AS		843
	127,000	e	Daiichi Chuo Kisen Kaisha		286
	135,000	e	Danaos Corp		682
	221,500		Deep Sea Supply plc		344
	244,242	e	DHT Maritime, Inc		918
	39,800		DOF ASA		244
	301,305	*,e	Eagle Bulk Shipping, Inc		1,546
	87,000	*	Eitzen Chemical ASA		33
	58,605		Euronav NV		1,262
	555,000	*	Evergreen International Storage & Transport Corp		503
	1,196,222		Evergreen Marine Corp Tawain Ltd		688
	1,555,000	*	Ezra Holdings Ltd		2,075
	48,797	e	Forth Ports PLC		942
	198,723		Frontline Ltd		4,648
	64,700	e	Frontline Ltd (Norway)		1,504
	129,788	e	Genco Shipping & Trading Ltd		2,697
	238,017	e	General Maritime Corp		1,842
	163,829		Golar LNG Ltd		1,812

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	38,900	e	Golar LNG Ltd (Norway)	$	429
	108,992	*	Gulfmark Offshore, Inc		3,568
	649,862	e	Hamburger Hafen und Logistik AG.		29,281
	66,844		Hanjin Shipping Co Ltd		1,166
	189,195	e	Horizon Lines, Inc (Class A)		1,201
	117,708	*,e	Hornbeck Offshore Services, Inc		3,244
	124,500	e	Iino Kaiun Kaisha Ltd		602
	3,680,700		International Container Term Services, Inc		1,709
	38,381		International Shipholding Corp		1,183
	29,000	e	Inui Steamship Co Ltd		209
	2,428		Israel Corp Ltd		1,463
	81,125	e	James Fisher & Sons plc		650
	340,310		Kamigumi Co Ltd		2,779
	709,538	e	Kawasaki Kisen Kaisha Ltd		2,632
	204,182	*,e	Kirby Corp		7,518
	87,987	e	Knightsbridge Tankers Ltd		1,147
	7,568	*	Korea Express Co Ltd		445
	61,490	e	Kuehne & Nagel International AG.		5,343
	1,455,000		Malaysia International Shipping Corp BHD		3,742
	147,282		Mermaid Marine Australia Ltd		357
	17,460		Minoan Lines S.A.		101
	2,049,060	e	Mitsui OSK Lines Ltd		12,144
	656,599	e	Neptune Orient Lines Ltd		830
	782,939	e	Nippon Yusen Kabushiki Kaisha		3,027
	106,000		Nissin Corp		276
	216,037	e	Nordic American Tanker Shipping		6,390
	255,902	*,e	Odyssey Marine Exploration, Inc		476
	90,000		Omega Navigation Enterprises, Inc (Class A)		294
	267,524	e	Orient Overseas International Ltd		1,367
	87,959	e	Overseas Shipholding Group, Inc		3,287
	2,843,000	e	Pacific Basin Shipping Ltd		1,875
	664,619	*,e	Royal Caribbean Cruises Ltd		16,004
	87,000	e	Shinwa Kaiun Kaisha Ltd		230
	216,376	e	Ship Finance International Ltd		2,659
	2,956,000	e	Shun TAK Holdings Ltd		2,243
	15,783		Smit Internationale NV		1,220
	49,300	e	Stolt-Nielsen S.A.		644
	123,360		STX Pan Ocean Co Ltd		1,136
	77,289	*,e	TBS International Ltd (Class A)		672
	174,597	e	Teekay Corp		3,818
	60,187	e	Teekay Tankers Ltd (Class A)		503
	138,323	*,e	Ultrapetrol Bahamas Ltd		681
	971,000		U-Ming Marine Transport Corp		1,634
	22,657		VTG AG.		306
	1,216,670		Wan Hai Lines Ltd		647
	22,367		Wilh Wilhelmsen ASA		484

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,433,512		Yang Ming Marine Transport	$	564
			TOTAL WATER TRANSPORTATION		230,812
WHOLESALE TRADE-DURABLE GOODS - 0.99%
	118,638		Agilysys, Inc		782
	261,314	e	Applied Industrial Technologies, Inc		5,529
	1,250,899	*	Arrow Electronics, Inc		35,213
	46,723		Arseus NV		526
	13,300		As One Corp		253
	1,332,904	e	Assa Abloy AB (Class B)		21,663
	37,100		Autobacs Seven Co Ltd		1,364
	237,700		Banpu PCL		3,045
	260,397	e	Barnes Group, Inc		4,450
	243,664	*,e	Beacon Roofing Supply, Inc		3,894
	627		BIC CAMERA, Inc		227
	21,595	*,e	Bluelinx Holdings, Inc		87
	10,471		Bobst Group AG.		403
	442,781	e	BorgWarner, Inc		13,399
	143,077	e	BSS Group plc		662
	44,791		Bunzl plc		454
	51,489		Canon Marketing Japan, Inc		911
	59,114	*	Cardtronics, Inc		462
	49,015		Carl Zeiss Meditec AG.		797
	108,177	e	Castle (A.M.) & Co		1,075
	6,117,896	e	China Communications Construction Co Ltd		6,623
	1,106,000	e	China High Speed Transmission Equipment Group Co Ltd		2,269
	685,800	*	China Metal Recycling Holdings Ltd		759
	2,198,861		China National Building Material Co Ltd		5,175
	7,172,000	*	China Resources Cement Holdings Ltd		3,609
	66,707	*	Chindex International, Inc		839
	2,727,000	*	CMC Magnetics Corp		703
	3,834		Coltene Holding AG.		191
	28,900	e	Communications Systems, Inc		338
	1,469,863	e	Compagnie de Saint-Gobain		76,251
	158,317	*,e	Conceptus, Inc		2,935
	24,692		Consumers’ Waterheater Income Fund		100
	84,846		Crane Group Ltd		821
	66,750	*	Creative Technology Ltd		295
	8,913		Daetwyler Holding AG.		514
	40,000	*,e	Daiichi Jitsugyo Co Ltd		121
	27,038		Demag Cranes AG.		971
	113,225	*,e	DemandTec, Inc		1,000
	122,860		Derichebourg		684
	3,608	e	D’ieteren S.A.		1,331
	123,248	*	Digi International, Inc		1,050
	1,928,895	e	Dimension Data Holdings plc		1,947

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,325,900		Dongfeng Motor Group Co Ltd	$	4,599
	19,797		Doosan Corp		1,495
	29,900		Doshisha Co Ltd		629
	94,333	*,e	Drew Industries, Inc		2,046
	28,653	e	Eastern Co		456
	612,458	e	Electrocomponents plc		1,503
	505,618	*	Emdeon, Inc		8,191
	745,462		Energy Support Corp		1,661
	12,300	e	Enplas Corp		236
	68,803	e	Esprinet S.p.A.		736
	221,997		Finning International, Inc		3,318
	581,500		Fisher & Paykel Healthcare Corp		1,377
	605,369	*,e	Fortescue Metals Group Ltd		2,040
	59,936		Fourlis Holdings S.A.		942
	25,785		Frigoglass S.A.		314
	3,914,000	*	Fushan International Energy Group Ltd		2,626
	43,278	*	GameLoft		241
	157,000		GeoVision, Inc		630
	221,594		Grafton Group plc		1,258
	300,150	e	GWA International Ltd		731
	14,200	e	Hakuto Co Ltd		138
	2,691		Hamon & CIE S.A.		116
	109,542	*,e	Hansen Medical, Inc		383
	317,000		Hanwa Co Ltd		1,144
	34,087		Hargreaves Services plc		417
	88,850		Headlam Group PLC		437
	36,885	*,e	Hexpol AB (Series B)		269
	42,400		Hitachi Software Engineering Co Ltd		1,249
	114,176	e	Houston Wire & Cable Co		1,262
	226,996		Imperial Holdings Ltd		2,412
	11,582		IMS-Intl Metal Service		224
	20,300		Inaba Denki Sangyo Co Ltd		486
	77,300		Inabata & Co Ltd		321
	1,593,086	*,e	Ingram Micro, Inc (Class A)		26,843
	483,975		Inner Mongolia Yitai Coal Co		2,684
	299,228	*	Insight Enterprises, Inc		3,654
	180,224	*,e	Interline Brands, Inc		3,037
	2,630		Interseroh AG.		183
	2,874,440		Itochu Corp		19,053
	28,800		Japan Digital Laboratory Co Ltd		406
	21,500		Kaga Electronics Co Ltd		224
	406,000	*	Kanematsu Corp		362
	8,672		KCC Corp		2,605
	301,940	*	Kia Motors Corp		4,766
	133,118		Kingspan Group plc		1,227
	92,618		Kloeckner & Co AG.		2,122

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	282,281	e	Knight Transportation, Inc	$	4,737
	40,300	e	Kuroda Electric Co Ltd		494
	34,833	e	Lawson Products, Inc		606
	1,992,892	e	Li & Fung Ltd		8,036
	58,898		Lindab International AB		729
	769,453	*	LKQ Corp		14,266
	9,700		Macnica, Inc		157
	185,000	*	Marubun Corp		1,158
	119,441	*,e	MedAssets, Inc		2,696
	129,232	*	Merge Healthcare, Inc		531
	3,012,000	*	Metallurgical Corp of China Ltd		2,044
	80,900	e	MISUMI Group, Inc		1,695
	3,462,717		Mitsubishi Corp		70,054
	3,836,848	e	Mitsui & Co Ltd		50,182
	175,920	*	Molopo Australia Ltd		199
	56,122	e	Munters AB		403
	67,982	*,e	MWI Veterinary Supply, Inc		2,716
	83,392		Mytilineos Holdings S.A.		707
	16,100		Nafco Co Ltd		301
	18,400		Nagaileben Co Ltd		387
	756	e	NET One Systems Co Ltd		1,137
	172,000	*	Nippon Road Co Ltd		395
	104,000		Nippon Steel Trading Co Ltd		180
	6,272,621	e	Nissan Motor Co Ltd		42,417
	117,425		Nisshin Steel Co Ltd		209
	177,272		Norbord, Inc		293
	11,700		Onoken Co Ltd		117
	271,106	e	Owens & Minor, Inc		12,268
	6,031,000		Pan-United Corp Ltd		2,462
	311,467	*,e	Patterson Cos, Inc		8,487
	281,724	e	PEP Boys - Manny Moe & Jack		2,752
	6,431		Phoenix Solar AG.		381
	10,696,000	*	Playmates Toys Ltd		294
	264,968	e	Pool Corp		5,888
	549,696	e	Premier Farnell plc		1,305
	173,203		Prysmian S.p.A.		3,249
	383,935	*,e	PSS World Medical, Inc		8,381
	3,164,534		PT Astra International Tbk		10,920
	2,490,444		PT United Tractors Tbk		4,020
	69,516	e	Rautaruukki Oyj		1,668
	597,609	e	Reliance Steel & Aluminum Co		25,434
	82,788	*	Rexel S.A.		1,192
	109,851	e	Rockwool International AS (B Shares)		9,847
	80,867	e	Russel Metals, Inc		1,289
	44,500		Ryosan Co Ltd		1,145
	24,000		Ryoyo Electro Corp		207

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	376,000	e	Sagami Railway Co Ltd	$	1,655
	167,227		Samsung Corp		7,721
	44,700		Sangetsu Co Ltd		1,003
	33,100		Sanshin Electronics Co Ltd		267
	284,762		Schneider Electric S.A.		28,861
	518,484		Securitas Systems AB (B Shares)		1,175
	149,000		Seika Corp		385
	26,500	e	Shinko Shoji Co Ltd		227
	98,000		Shinsho Corp		171
	67,053	*	Sierra Wireless, Inc		669
	631,353		SIG PLC		1,392
	4,130,626		Sime Darby BHD		10,145
	560,237	e	Sims Group Ltd		11,284
	36,883		Sims Group Ltd ADR		735
	86,800		SK Networks Co Ltd		936
	8,005		Solar Holdings AS (B Shares)		437
	377,151	e	Solera Holdings, Inc		11,733
	44,200		Sport Supply Group, Inc		450
	97,000		Sumikin Bussan Corp		220
	47,800		Sumisho Computer Systems Corp		796
	4,093,778	e	Sumitomo Corp		42,185
	92,000		Tamura Corp		317
	305,252	*,e	Tech Data Corp		12,702
	38,900	*	TECMO KOEI HOLDINGS CO Ltd		315
	17,709,605		Test-Rite International Co		8,015
	82,125		THK Co Ltd		1,608
	963,468	e	ThyssenKrupp AG.		33,175
	50,254	*,e	Titan Machinery, Inc		629
	92,656	f	TMK OAO (GDR)		1,447
	207,823	*,e	TomoTherapy, Inc		900
	146,323	*	Topps Tiles plc		222
	79,842		Toromont Industries Ltd		1,715
	32,200		Trusco Nakayama Corp		558
	149,695	*,e	Tyler Technologies, Inc		2,558
	50,300	e	Ulvac, Inc		1,325
	1,261,341		UMW Holdings BHD		2,292
	13,970	e	Vossloh AG.		1,583
	191,028	e	W.W. Grainger, Inc		17,070
	7,938		Wajax Income Fund		131
	549,122		Wavin NV		1,193
	629,057	*,e	WESCO International, Inc		18,117
	2,602,654		Wesfarmers Ltd		60,824
	99,771		Wesfarmers Ltd PPS		2,337
	77,472	*	West Marine, Inc		609
	30,805	*	Westport Innovations, Inc		391
	22,441	*,e	Willis Lease Finance Corp		307

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	868,344	*	Wolseley plc	$	20,913
	1,461,000		WPG Holdings Co Ltd		2,068
	4,500,000		Xiamen International Port Co Ltd		848
	90,800	e	Yamazen Corp		336
	390,000	e	Yuasa Trading Co Ltd		430
	25,600	e	Zenrin Co Ltd		373
			TOTAL WHOLESALE TRADE-DURABLE GOODS		940,565
WHOLESALE TRADE-NONDURABLE GOODS - 0.89%
	28,756		AarhusKarlshamn AB		553
	15,900		ABC-Mart, Inc		495
	146,195		Aceto Corp		965
	394,400		Airgas, Inc		19,077
	288,247	*,e	Akorn, Inc		395
	256,982	e	Akzo Nobel NV		15,920
	58,399	e	Alfresa Holdings Corp		2,381
	613,607	*,e	Alliance One International, Inc		2,749
	189,441	e	Allscripts Healthcare Solutions, Inc		3,840
	109,664	e	Andersons, Inc		3,860
	54,200		AOKI Holdings, Inc		609
	58,161	*	ASOS plc		325
	581,244	e	AWB Ltd		654
	31,023	e	Axfood AB		859
	322,925	*	Bare Escentuals, Inc		3,840
	3,193	*	Baron de Ley		172
	228,456	e	Billabong International Ltd		2,419
	234,000	*,e	BioScrip, Inc		1,582
	165,591	*,e	BMP Sunstone Corp		674
	279,653	e	Brown-Forman Corp (Class B)		13,485
	11,600		C Uyemura & Co Ltd		578
	1,159,432		Cardinal Health, Inc		31,073
	42,103	e	Casino Guichard Perrachon S.A.		3,339
	48,490		Celesio AG.		1,337
	175,893	*,e	Central European Distribution Corp		5,762
	240,000		China Aviation Oil Singapore Corp Ltd		199
	2,262,000		China BlueChemical Ltd		1,226
	1,522,000		China Mengniu Dairy Co Ltd		3,896
	90,171	*	Clearwater Paper Corp		3,727
	63,596	*,e	Core-Mark Holding Co, Inc		1,819
	495,347		Dairy Crest Group plc		3,036
	3,338,000		Dalian Port PDA Co Ltd		1,374
	59,841		Danisco AS		3,632
	15,108		DC Chemical Co Ltd		3,385
	2,756,285	*	Dean Foods Co		49,034
	4,845		Delek Group Ltd		816
	223,000		Dickson Concepts International Ltd		109

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,720	e	East Asiatic Co Ltd A.S.	$	781
	536,494		Empresas COPEC S.A.		6,900
	969,451	*,e	Endo Pharmaceuticals Holdings, Inc		21,939
	1,075,646	*	Ercros S.A.		302
	1,181,741		Esprit Holdings Ltd		7,929
	497,050	e	Findel plc		314
	2,298,000		First Pacific Co		1,539
	4,673,547		Foster’s Group Ltd		22,883
	242,388	*	Fresh Del Monte Produce, Inc		5,480
	110,000	*,e	Fujiya Co Ltd		197
	555,708		Fyffes plc		333
	7,149	e	Galenica AG.		2,518
	3,240,629		Gazprom (ADR)		75,346
	149,174	*,e	Gildan Activewear, Inc		2,948
	143,001	*	GrainCorp Ltd		1,139
	132,194	*,e	Green Mountain Coffee Roasters, Inc		9,761
	217,811	*,e	Hain Celestial Group, Inc		4,175
	85,942		Hanwha Corp		3,140
	296,893	*,e	Henry Schein, Inc		16,302
	1,083,012		Herbalife Ltd		35,458
	16,667		IC Companys AS		446
	12,460,000		IRPC PCL		1,619
	8,300		Itochu-Shokuhin Co Ltd		294
	112,000	e	Japan Pulp & Paper Co Ltd		428
	496,155		JBS S.A.		2,582
	44,000		Kato Sangyo Co Ltd		754
	54,472		Kenneth Cole Productions, Inc (Class A)		546
	126,536	e	Kikkoman Corp		1,576
	47,500	e	Kobayashi Pharmaceutical Co Ltd		2,164
	43,990		Koninklijke Vopak NV		2,856
	124,585	e	K-Swiss, Inc (Class A)		1,095
	139,191		KT&G Corp		8,435
	18,708		Laboratorios Farmaceuticos Rovi S.A		224
	3,347		LDC		382
	69,082		LG Chem Ltd		12,840
	101,576	*,e	LSB Industries, Inc		1,582
	37,492		MARR S.p.A.		339
	2,863,920		Marubeni Corp		14,453
	244,340		Massmart Holdings Ltd		2,866
	10,200	*,e	Meito Sangyo Co Ltd		144
	289,897	e	Men’s Wearhouse, Inc		7,160
	2,520,387	e	Metcash Ltd		10,006
	338,281		Metro, Inc		11,055
	1,079,071	*	Mexichem SAB de C.V.		1,617
	175,803		Myers Industries, Inc		1,893
	148,000		Nagase & Co Ltd		1,830

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	81,270	e	Nash Finch Co	$	2,222
	1,533,596		Nippon Oil Corp		8,611
	3,342,137		Noble Group Ltd		5,813
	315,927		Nu Skin Enterprises, Inc (Class A)		5,854
	2,030,000		Pacific Andes International Holdings Ltd		338
	19,700	*	Paladin Labs, Inc		322
	10,313,000	*	Peak Sport Products Co Ltd		4,724
	57,473	*	Perry Ellis International, Inc		922
	4,864		Pescanova S.A.		177
	614,700		Petronas Dagangan BHD		1,527
	21,130		Point, Inc		1,398
	1,332,000	e	Prime Success International Group Ltd		964
	144,500	*,e	Pronova BioPharma AS		438
	1,650,500		PT Unilever Indonesia Tbk		1,827
	13,569	e	Rubis		1,239
	17,500	e	Ryoshoku Ltd		447
	27,500	*	S Foods, Inc		263
	35,400	e	Sakata Seed Corp		541
	61,800		San-A Co Ltd		2,492
	96,000		San-Ai Oil Co Ltd		477
	22,549		Sarantis S.A.		175
	74,212	e	Schiff Nutrition International, Inc		387
	101,832	*,e	School Specialty, Inc		2,415
	3,683		Schweizerhall Holding AG.		679
	2,087,336	e	Sigma Pharmaceuticals Ltd		1,961
	39,103		Sligro Food Group NV		1,141
	3,754,209	*,e	Sojitz Holdings Corp		7,152
	135,141	e	Spartan Stores, Inc		1,910
	69,101		Sprider Stores S.A.		166
	55,179	*,e	Super De Boer		335
	166,934	*	Suzano Papel e Celulose S.A.		1,762
	90,032	e	Suzuken Co Ltd		3,109
	147,849	e	Symrise AG.		2,819
	71,908	*,e	Synutra International, Inc		986
	3,015,505		Sysco Corp		74,935
	1,747,581		Terra Industries, Inc		60,589
	238,101		Tiger Brands Ltd		4,770
	35,700	e	Toho Pharmaceutical Co Ltd		493
	36,000	e	Tokai Corp		183
	181,770	*,e	Tractor Supply Co		8,801
	1,100,800		Tsingtao Brewery Co Ltd		4,162
	3,007,349	e	Unilever NV		86,675
	312,000		Unilever NV ADR		9,004
	5,355,144		Uni-President Enterprises Corp		6,313
	304,210		United Drug PLC		1,028
	213,305	*,e	United Natural Foods, Inc		5,102

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	141,332	*	United Stationers, Inc	$	6,729
	18,210	e	Valhi, Inc		221
	6,409		VAN DE Velde		279
	5,011	e	Vilmorin & Cie		566
	528,325		Vina Concha Y Toro S.A.		1,115
	310,623	*,e	Viterra, Inc		3,099
	92,868	*,e	Volcom, Inc		1,530
	21,900	*	Wimm-Bill-Dann Foods OJSC (ADR)		1,566
	87,000		Yokohama Reito Co Ltd		614
	109,734	e	Zep, Inc		1,783
	96,922	*,e	Zhongpin, Inc		1,427
			TOTAL WHOLESALE TRADE-NONDURABLE GOODS		844,343
			TOTAL COMMON STOCKS		94,175,768
			(Cost $91,029,298)
RIGHTS / WARRANTS - 0.00% **
APPAREL AND ACCESSORY STORES - 0.00% **
	94,615	e	rnb Retail and Brands AB		2
			TOTAL APPAREL AND ACCESSORY STORES		2
BUSINESS SERVICES - 0.00% **
	707,620	e	Genting Singapore plc		158
	4,921	m	Redflex Holdings Ltd		1
			TOTAL BUSINESS SERVICES		159
CHEMICALS AND ALLIED PRODUCTS - 0.00% **
	1,155	e	Dov Pharmaceutical, Inc		0	^
	91,423		Dov Pharmaceutical, Inc		0	^
			TOTAL CHEMICALS AND ALLIED PRODUCTS		0	^
COAL MINING - 0.00% **
	69,345		UK Coal plc (Sub Shares)		45
	44,128	m	UK Coal plc		0	^
			TOTAL COAL MINING		45
DEPOSITORY INSTITUTIONS - 0.00% **
	1,994,539	e	BNP Paribas		4,320
	36,890	m,	Center Bancorp, Inc		2
	2,379,809	e,m	Fortis		0	^
	1,416,731	v	Mediobanca S.p.A		101
	116,411	e	Swedbank AB		230
	61,978	e	Unione di Banche Italiane SCPA		7
			TOTAL DEPOSITORY INSTITUTIONS		4,660

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
EATING AND DRINKING PLACES - 0.00% **
	23,136		Krispy Kreme Doughnuts, Inc	$	1
			TOTAL EATING AND DRINKING PLACES		1
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.00% **
	12,569		Carbone Lorraine		37
	6	m	GreenHunter Energy, Inc		0	^
			TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		37
FOOD AND KINDRED PRODUCTS - 0.00% **
	265,635		Golden Agri-Resources Ltd		25
			TOTAL FOOD AND KINDRED PRODUCTS		25
GENERAL BUILDING CONTRACTORS - 0.00% **
	137,235		IJM Corp BHD		7
			TOTAL GENERAL BUILDING CONTRACTORS		7
HOLDING AND OTHER INVESTMENT OFFICES - 0.00% **
	914,000	m	Fortune Real Estate Investment Trust		25
	4,761,352	m	GPT Group		0	^
	133,045		IJM Land BHD		40
			TOTAL HOLDING AND OTHER INVESTMENT OFFICES		65
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.00% **
	70,278	e	Amer Sports OYJ		180
			TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		180
NONDEPOSITORY INSTITUTIONS - 0.00% **
	169,458		Heckmann Corp		95
			TOTAL NONDEPOSITORY INSTITUTIONS		95
OIL AND GAS EXTRACTION - 0.00% **
	147,170	m	Nexus Energy Ltd		14
			TOTAL OIL AND GAS EXTRACTION		14
PRIMARY METAL INDUSTRIES - 0.00% **
	346,000		DOWA HOLDINGS CO LTD		4
			TOTAL PRIMARY METAL INDUSTRIES		4
REAL ESTATE - 0.00% **
	24,747	m	Deutsche Wohnen AG.		167
	553,875		SP Setia BHD		101
	24,559		Unite Group plc (Sub Shares)		5
	13,507		Unite Group plc		0	^
			TOTAL REAL ESTATE		273

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES COMPANY MATURITY
DATE VALUE
(000)

RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.00% **
	41,373		Deceuninck Plastics	$	97
			TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		97
STONE, CLAY, AND GLASS PRODUCTS - 0.00% **
	783	e	HeidelbergCement AG.		4
			TOTAL STONE, CLAY, AND GLASS PRODUCTS		4
WHOLESALE TRADE-NONDURABLE GOODS - 0.00% **
	581,244	m	AWB Ltd		141
			TOTAL WHOLESALE TRADE-NONDURABLE GOODS		141
			TOTAL RIGHTS / WARRANTS		5,809
			(Cost $838)

PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 3.95%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.12%
	$     5,800,000	Federal Home Loan Bank (FHLB)	10/16/09	5,800
	7,650,000	FHLB	10/23/09	7,650
	4,100,000	FHLB	10/9/09	4,100
	38,865,000	FHLB	10/15/09	38,863
	15,500,000	Federal Home Loan Mortgage Corp (FHLMC)	11/9/09	15,496
	6,290,000	FHLMC	11/23/09	6,288
	29,275,000	FHLMC	11/2/09	29,268
	9,700,000	FHLMC	12/1/09	9,700
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		117,165
		(Cost $117,161)
U.S. TREASURY BILLS - 0.07%
	50,000,000	United States Cash Management Bill	4/1/10	49,956
	13,000,000	United States Treasury Bill	10/8/09	12,999
		TOTAL U.S. TREASURY BILLS		62,955
		(Cost $62,953)
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 3.76%
REPURCHASE AGREEMENTS - 0.81%
	2,309,000	Bank Of America		2,309
	259,000,000	BNP Paribas, Inc		259,000
	180,000,000	Deutsche Bank		180,000
	325,218,000	Morgan Stanley		325,218
		TOTAL REPURCHASE AGREEMENTS		766,527

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
PRINCIPAL		ISSUER	VALUE (000)
VARIABLE RATE SECURITY - 2.95%
	$     85,000,000	American Express Credit Account Master Trust	$	84,811
	58,000,000	American Express Credit Account Master Trust		57,099
	82,000,000	American Express Credit Account Master Trust		81,377
	85,000,000	BA Credit Card Trust		84,480
	64,000,000	BA Credit Card Trust		63,397
	170,000,000	Bank of America Corp		169,918
	25,000,000	Bank One Issuance Trust		24,807
	10,870,347	Brunel Residential Mortgage Securization PLC		10,796
	30,000,000	Capital One Multi-Asset Execution Trust		30,026
	43,525,000	Capital One Multi-Asset Execution Trust		43,091
	170,000,000	Capital One Multi-Asset Execution Trust		169,304
	32,000,000	Chase Issuance Trust		31,836
	51,000,000	Chase Issuance Trust		50,128
	17,000,000	Chase Issuance Trust		16,904
	110,000,000	Citibank Credit Card Issuance Trust		108,767
	85,000,000	Citigroup Funding, Inc		85,068
	43,000,000	Discover Card Execution Note Trust		43,091
	65,000,000	Discover Card Execution Note Trust		65,008
	16,000,000	Discover Card Master Trust		15,968
	8,000,000	Discover Card Master Trust		7,976
	16,000,000	Discover Card Master Trust		15,975
	102,000,000	Discover Card Master Trust		101,263
	68,000,000	Discover Card Master Trust 1		67,666
	39,000,000	GE Equipment Midticket LLC		38,143
	110,000,000	General Electric Cap Corp		107,967
	50,000,000	General Electric Cap Corp		50,010
	21,000,000	General Electric Cap Corp		21,000
	17,000,000	General Electric Cap Corp		16,510
	20,600,000	General Electric Cap Corp		20,415
	31,366,856	Granite Master Issuer Plc 2006		26,509
	24,801,695	Granite Master Issuer Plc 2007		21,014
	128,000,000	JP Morgan Chase & Co		128,284
	100,000,000	JP Morgan Chase & Co		100,073
	12,373,960	Medallion Trust		11,573
	73,000,000	Nelnet Student Loan Trust		72,573
	43,374,426	Nelnet Student Loan Trust		43,081
	118,000,000	Permanent Financing Plc		116,702
	135,000,000	Permanent Master Issuer Plc		124,976
	30,719,000	Puma Global Mortgage Backed Trust		28,197
	100,000,000	Rabobank Nederland Trust		100,197
	51,463,225	SLM Student Loan Trust		51,371
	43,000,000	SLM Student Loan Trust		43,016
	170,000,000	SLM Student Loan Trust		158,694
	65,306,069	Wachovia Student Loan Trust		65,100
	12,503,301	World Omni Auto Receivable Trust		12,519
		TOTAL VARIABLE RATE SECURITY		2,786,680

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
	ISSUER	VALUE (000)
	TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED	$	3,553,207
	(Cost $3,592,920)
	TOTAL SHORT-TERM INVESTMENTS		3,733,327
	(Cost $3,773,034)
	TOTAL PORTFOLIO - 103.58%		97,939,220
	(Cost $94,828,586)
	OTHER ASSETS AND LIABILITIES, NET - (3.58)%		(3,383,213	)
	NET ASSETS - 100.00%	$	94,556,007

	The following abbreviations are used in portfolio descriptions:
ADR	American Depositary Receipt
GDR	Global Depositary Receipt
LLC	Limited Liability Company
LP	Limited Partnership
plc	Public Limited Company
SICAV	Societe d’Investissement A Capital Variable
SPDR	Standard & Poor’s Depository Receipts

*	Non-income producing
**	Percentage represents less than 0.01%.
^	Amount represents less than $1,000.
a	Affiliated holding.
b	In bankruptcy.
e	All or a portion of these securities are out on loan.
f	Restricted security
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.
	At September 30, 2009, the net unrealized appreciation on investment was $3,110,633,672, consisting of gross unrealized appreciation of $10,584,082,352 and gross unrealized depreciation of $(7,473,448,680).
	Companies in which the Account held 5% or more of the outstanding voting shares are considered “affiliated companies” of the Account pursuant to the Investment Company Act of 1940. Additionally, investments in other investment companies advised by Investment Management or affiliated entities are treated as affiliated companies. Information regarding transactions with affiliated companies is as follows:

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
TRANSACTIONS WITH AFFILIATED COMPANIES-STOCK ACCOUNT
JANUARY 1, 2009 - SEPTEMBER 30, 2009

	Issue	Value at December 31, 2008			Purchase Cost		Sales Proceeds		Realized Gain/(Loss)			Dividend Income		Withholding Expense		Shares at September 30, 2009	Value at September 30, 2009
Daishin Securities Co			$	2,270,222	$	-	$	213,314	$	(403,662	)	$	-	$	-	*		$	-
Digital Garage, Inc				11,172,938		-		2,062,873		(1,508,274	)		623,761		21,605	10,865			22,912,544
First NIS Regional Fund SICAV				15,984		-		-		-			-		-	1,598,400			15,984
Information Development Co				2,363,181		-		-		2,582			83,129		5,819	431,900			2,886,871
Intelligent Wave, Inc				2,594,875		-		-		-			83,003		5,810	15,915			2,827,876
MPM Bioventures II				9,918,210		-		-		-			-		-	22,167,242			9,297,385
Pharmacyclics, Inc				**		2,607,480		-		-			-		-	2,020,199			3,959,590
Skyline Venture Partners				2,017,722		37,500		-		-			-		-	4,254,176			1,076,362
					$	2,644,980	$	2,062,873	$	(1,505,692	)	$	789,893	$	33,234			$	42,976,612

* Not an Affiliate as of September 30, 2009

** Not an Affiliate as of December 31, 2008

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
September 30, 2009

COUNTRY	VALUE		% OF TOTAL PORTFOLIO
DOMESTIC
UNITED STATES	$	69,076,647,071		70.53	%
TOTAL DOMESTIC		69,076,647,071		70.53
FOREIGN
ARGENTINA		11,885,428		0.01
AUSTRALIA		1,592,024,273		1.63
AUSTRIA		113,250,847		0.12
BELGIUM		307,190,706		0.31
BERMUDA		50,142,364		0.05
BRAZIL		771,133,932		0.79
CAMBODIA		945,206		0.00	**
CANADA		2,184,921,096		2.23
CAYMAN ISLANDS		2,731,091		0.00
CHILE		55,716,735		0.06
CHINA		874,204,017		0.89
COLOMBIA		28,668,230		0.03
CYPRUS		6,780,168		0.01
CZECH REPUBLIC		39,907,212		0.04
DENMARK		103,425,043		0.11
EGYPT		23,640,452		0.02
FINLAND		352,155,493		0.36
FRANCE		1,867,578,391		1.91
GERMANY		1,955,859,504		2.00
GIBRALTAR		848,731		0.00	**
GREECE		119,230,305		0.12
GUERNSEY, C.I.		21,601,722		0.02
HONG KONG		457,676,306		0.47
HUNGARY		24,192,999		0.03
INDIA		322,393,273		0.33
INDONESIA		87,217,430		0.09
IRELAND		219,024,107		0.22
ISRAEL		262,516,200		0.27
ITALY		586,916,220		0.60
JAPAN		4,282,467,985		4.37
JERSEY, C.I.		6,245,576		0.01
KAZAKHSTAN		22,556,359		0.02
KOREA, REPUBLIC OF		616,899,081		0.63
LIECHTENSTEIN		1,987,732		0.00	**
LUXEMBOURG		30,390,362		0.03
MACAU		3,132,974		0.00	**
MALAYSIA		138,667,079		0.14
MEXICO		208,536,123		0.21
MOROCCO		11,169,210		0.01
NETHERLANDS		872,805,899		0.89
NEW ZEALAND		38,361,032		0.04
NORWAY		96,377,177		0.10

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COUNTRY	VALUE		% OF TOTAL PORTFOLIO
PANAMA	$	14,239,240		0.02	%
PERU		16,263,561		0.02
PHILIPPINES		28,903,320		0.03
POLAND		50,155,307		0.05
PORTUGAL		77,166,808		0.08
PUERTO RICO		6,984,502		0.01
RUSSIA		267,800,321		0.27
SINGAPORE		289,510,866		0.30
SOUTH AFRICA		305,951,827		0.31
SPAIN		805,213,706		0.82
SWEDEN		381,830,574		0.39
SWITZERLAND		2,685,207,950		2.74
TAIWAN		571,042,247		0.58
THAILAND		71,799,793		0.07
TURKEY		61,568,931		0.06
UNITED KINGDOM		4,455,559,938		4.55
TOTAL FOREIGN		28,862,572,961		29.47
TOTAL PORTFOLIO	$	97,939,220,032		100.00	%

178

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2009

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.32%
ADMINISTRATION OF ECONOMIC PROGRAMS - 0.00%**
	9,980		Bureau Veritas S.A.	$	563
			TOTAL ADMINISTRATION OF ECONOMIC PROGRAMS		563
AMUSEMENT AND RECREATION SERVICES - 0.26%
	31,345	e	Aristocrat Leisure Ltd		145
	62,336	*,e	Electronic Arts, Inc		1,188
	4,505,000	*,e	Galaxy Entertainment Group Ltd		1,988
	121,349	e	Ladbrokes plc		363
	13,250	e	Lottomatica S.p.A.		297
	300,000	*	Melco PBL Entertainment Macau Ltd (ADR)		2,088
	10,651,796		NagaCorp Ltd		1,402
	11,158		Nintendo Co Ltd		2,859
	131,890		OPAP S.A.		3,401
	5,001	e	Oriental Land Co Ltd		352
	14,930,000	*	Rexcapital Financial Holdings Ltd		1,329
	293,744	e	Sega Sammy Holdings, Inc		3,822
	49,402		Sky City Entertainment Group Ltd		116
	380,845	e	TABCORP Holdings Ltd		2,396
	110,872		Tattersall’s Ltd		248
	400,940		Walt Disney Co		11,010
			TOTAL AMUSEMENT AND RECREATION SERVICES		33,004
APPAREL AND ACCESSORY STORES - 0.50%
	17,584	e	Abercrombie & Fitch Co (Class A)		578
	48,411	*,e	Aeropostale, Inc		2,104
	248,342	e	American Eagle Outfitters, Inc		4,187
	85,054		Burberry Group plc		684
	5,894		Fast Retailing Co Ltd		746
	942,212		Gap, Inc		20,164
	209,505	e	Hennes & Mauritz AB (B Shares)		11,765
	50,993		Inditex S.A.		2,926
	208,161	*	Kohl’s Corp		11,876
	94,462	e	Limited Brands, Inc		1,605

179

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
SHARES			COMPANY	VALUE (000)
	33,374	e	Nordstrom, Inc	$	1,019
	112,224	e	Ross Stores, Inc		5,361
	18,911	*	Urban Outfitters, Inc		571
			TOTAL APPAREL AND ACCESSORY STORES		63,586
APPAREL AND OTHER TEXTILE PRODUCTS - 0.17%
	65,000		Guess ?, Inc		2,408
	12,219	e	Hermes International		1,803
	73,742		Nike, Inc (Class B)		4,771
	9,152	e	Onward Kashiyama Co Ltd		68
	35,042	e	Polo Ralph Lauren Corp (Class A)		2,685
	31,326		Shimamura Co Ltd		3,074
	100,864		VF Corp		7,306
			TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		22,115
AUTO REPAIR, SERVICES AND PARKING - 0.15%
	42,250		Ryder System, Inc		1,650
	459,253		Standard Chartered plc		11,318
	231,663		Standard Chartered plc (Hong Kong)		5,700
			TOTAL AUTO REPAIR, SERVICES AND PARKING		18,668
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.05%
	24,351	e	Advance Auto Parts		957
	20,257	*,e	Autonation, Inc		366
	9,615	*,e	Autozone, Inc		1,406
	33,922		Canadian Tire Corp Ltd		1,829
	44,970	*,e	Carmax, Inc		940
	21,436	*,e	O’Reilly Automotive, Inc		775
			TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		6,273
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.32%
	26,709	e	Fastenal Co		1,034
	783,269		Home Depot, Inc		20,866
	1,038,296		Kingfisher plc		3,533
	741,232		Lowe’s Cos, Inc		15,521
			TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		40,954
BUSINESS SERVICES - 5.66%
	111,171	*,e	Activision Blizzard, Inc		1,377
	28,258	e	Adecco S.A.		1,502
	376,734	*	Adobe Systems, Inc		12,447
	85,482	*,e	Affiliated Computer Services, Inc (Class A)		4,631
	42,651	*,e	Akamai Technologies, Inc		839
	133,898	*,e	Alliance Data Systems Corp		8,178

180

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
SHARES			COMPANY	VALUE (000)
	344,054	e	Atos Origin S.A.	$	17,370
	37,081	*,e	Autodesk, Inc		883
	216,671	e	Automatic Data Processing, Inc		8,515
	4,009,000	*	Autonomy Corp plc		104,371
	414,800		Aveva Group plc		6,089
	107,553	*	BMC Software, Inc		4,036
	110,326		CA, Inc		2,426
	27,000	*,e	CACI International, Inc (Class A)		1,276
	10,095	*,e	Cerner Corp		755
	423,853	*	CGI Group, Inc		4,964
	49,020	*,e	Citrix Systems, Inc		1,923
	48,822	*	Cognizant Technology Solutions Corp (Class A)		1,887
	319,203	*,e	Computer Sciences Corp		16,825
	44,528	e	Computershare Ltd		438
	71,122		Ctrip.com International Ltd (ADR)		4,181
	11,581	e	Dassault Systemes S.A.		646
	30	e	Dena Co Ltd		83
	16,100	e	Dentsu, Inc		375
	125,087	*,e	DST Systems, Inc		5,604
	126,567	*	DynCorp International, Inc (Class A)		2,278
	401,100	*	eBay, Inc		9,470
	34,560		Equifax, Inc		1,007
	154,158	*,e	Expedia, Inc		3,692
	252,231		Experian Group Ltd		2,122
	124,593	e	Fidelity National Information Services, Inc		3,178
	34,899	*	Fiserv, Inc		1,682
	1,881,406	e	Fujitsu Ltd		12,303
	19,669	e	Gestevision Telecinco S.A.		248
	136,559	*	Google, Inc (Class A)		67,713
	272,457		Group 4 Securicor plc		961
	2,445	e	Hakuhodo DY Holdings, Inc		133
	33,518		Hays plc		56
	7,602	*	IHS, Inc (Class A)		389
	55,286		IMS Health, Inc		849
	22,358		Indra Sistemas S.A.		558
	112,500		Infosys Technologies Ltd		5,394
	632,379	*,e	Interpublic Group of Cos, Inc		4,755
	86,004	*	Intuit, Inc		2,451
	37,364	*,e	Iron Mountain, Inc		996
	13,415	e	JC Decaux S.A.		291
	157,059	e	JSR Corp		3,219
	114,421	*,e	Juniper Networks, Inc		3,092
	8,973	e	Konami Corp		183
	61,430	*,e	Longtop Financial Technologies Ltd (ADR)		1,748
	46,986		Manpower, Inc		2,665
	27,469	e	Mastercard, Inc (Class A)		5,553

181

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
SHARES			COMPANY	VALUE (000)
	196,904	*	McAfee, Inc	$	8,622
	467,841		Michael Page International PLC		2,502
	4,475,876	e	Microsoft Corp		115,881
	185,270	e	Mitsubishi UFJ Lease & Finance Co Ltd		5,593
	50,753	e	Moody’s Corp		1,038
	84,567	*	NCR Corp		1,169
	198,328	e	NEC Corp		623
	50,163	*	Neowiz Games Corp		1,873
	70,177	*,e	Netease.com (ADR)		3,206
	17,513	*	NHN Corp		2,579
	10,910		Nomura Research Institute Ltd		259
	240,000	*	Novell, Inc		1,082
	624		NTT Data Corp		1,999
	28,884	*	Nuance Communications, Inc		432
	727	e	Obic Co Ltd		123
	252,901		Omnicom Group, Inc		9,342
	24,331	*	Open Text Corp		912
	2,115,509		Oracle Corp		44,087
	3,403	e	Oracle Corp Japan		152
	1,587	e	Otsuka Corp		95
	66,200	e	Playtech Ltd		408
	25,991	e	Publicis Groupe S.A.		1,043
	9,175	e	Rakuten, Inc		6,112
	25,818	e	Randstad Holdings NV		1,115
	29,639	*	Red Hat, Inc		819
	42,448	e	Ritchie Bros Auctioneers, Inc		1,051
	30,358		Robert Half International, Inc		760
	268,757		Sage Group plc		1,002
	54,466	*	Salesforce.com, Inc		3,101
	750,771		SAP AG.		36,563
	24,313		Secom Co Ltd		1,224
	78,471	e	Securitas AB (B Shares)		758
	2,143		SGS S.A.		2,885
	246,592	*,e	Shanda Games Ltd (ADR)		2,885
	32,016	*	Sina Corp		1,215
	5,156		Societe Des Autoroutes Paris-Rhin-Rhone		393
	532,993	e	Softbank Corp		11,715
	45,000	e	Sotheby’s (Class A)		775
	6,599		Square Enix Co Ltd		179
	576,662	*	Sun Microsystems, Inc		5,242
	741,597	*	Symantec Corp		12,214
	23,316	*	Synopsys, Inc		523
	647,576	*,e	Temenos Group AG.		15,185
	180,000		Tencent Holdings Ltd		2,929
	26,672	e	Total System Services, Inc		430
	10,351	e	Trend Micro, Inc		386

182

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
SHARES			COMPANY	VALUE (000)
	26,101	e	United Internet AG.	$	394
	2,932		USS Co Ltd		175
	55,674	*	VeriSign, Inc		1,319
	316,747	e	Visa, Inc (Class A)		21,890
	101,814	*	VMware, Inc (Class A)		4,090
	804,775		WPP plc		6,907
	15,626	e	Yahoo! Japan Corp		5,309
	1,026,270	*	Yahoo!, Inc		18,278
			TOTAL BUSINESS SERVICES		719,450
CHEMICALS AND ALLIED PRODUCTS - 10.85%
	596,458		Abbott Laboratories		29,507
	31,264	*	Actelion Ltd		1,941
	70,297	e	Agrium, Inc		3,514
	58,747	e	Air Liquide		6,684
	148,553		Air Products & Chemicals, Inc		11,525
	192,000	e	Air Water, Inc		2,212
	935,768	*	Amgen, Inc		56,361
	128,859		Asahi Kasei Corp		656
	53,583		Astellas Pharma, Inc		2,203
	681,654		AstraZeneca plc		30,546
	88,081	e	AstraZeneca plc (ADR)		3,959
	15,195	e	Avery Dennison Corp		547
	86,871		Avon Products, Inc		2,950
	790,941	e	BASF AG.		41,910
	20,553		Beiersdorf AG.		1,207
	116,262	*,e	Biogen Idec, Inc		5,874
	62,401	e	Biovail Corp		963
	698,425		Bristol-Myers Squibb Co		15,729
	179,283	e	Celanese Corp (Series A)		4,482
	89,550	*	Celgene Corp		5,006
	18,992	*	Cephalon, Inc		1,106
	49,679		CF Industries Holdings, Inc		4,284
	14,458	*	Charles River Laboratories International, Inc		535
	87,000	*,e	Chattem, Inc		5,778
	13,695		Christian Dior S.A.		1,353
	157,158		Chugai Pharmaceutical Co Ltd		3,251
	17,422	e	Church & Dwight Co, Inc		989
	260,756		Cipla Ltd		1,517
	43,123		Clorox Co		2,536
	252,829	e	Colgate-Palmolive Co		19,286
	334,417		CSL Ltd		9,871
	125,000	e	Cytec Industries, Inc		4,059
	25,630		Daicel Chemical Industries Ltd		155
	252,079		Daiichi Sankyo Co Ltd		5,204
	38,010		Dainippon Ink and Chemicals, Inc		54

183

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	14,163	e	Dainippon Sumitomo Pharma Co Ltd	$	154
	694,031	e	Dow Chemical Co		18,093
	60,246		Dr Reddy’s Laboratories Ltd		1,243
	33,979		DSM NV		1,420
	351,626		Du Pont (E.I.) de Nemours & Co		11,301
	39,427	e	Eastman Chemical Co		2,111
	117,647		Ecolab, Inc		5,439
	29,241	e	Eisai Co Ltd		1,101
	82,020	*	Elan Corp plc		588
	20,466	*,e	Elan Corp plc (ADR)		146
	350,816		Eli Lilly & Co		11,587
	1,075	e	Eramet		373
	16,468		Estee Lauder Cos (Class A)		611
	17,812	e	FMC Corp		1,002
	196,950	*	Forest Laboratories, Inc		5,798
	58,025	*	Genzyme Corp		3,292
	598,608	*	Gilead Sciences, Inc		27,883
	1,503		Givaudan S.A.		1,127
	1,614,185		GlaxoSmithKline plc		31,718
	25,994	e	Grifols S.A.		495
	13,324	e	H Lundbeck A/s		276
	1		H.B. Fuller Co		0	^
	30,063		Henkel KGaA		1,092
	38,018	e	Henkel KGaA (Preference)		1,637
	6,700		Hisamitsu Pharmaceutical Co, Inc		272
	73,596	*	Hospira, Inc		3,282
	625,000	e	Huntsman Corp		5,694
	1,345,025		Incitec Pivot Ltd		3,358
	12,276		International Flavors & Fragrances, Inc		466
	128,474	*	Invitrogen Corp		5,980
	194,294		Ipsen		10,642
	1,832,670		Johnson & Johnson		111,591
	20,480		Kansai Paint Co Ltd		160
	167,157		Kao Corp		4,134
	358,000	*	King Pharmaceuticals, Inc		3,856
	323,587		Kuraray Co Ltd		3,533
	23,486		Kyowa Hakko Kogyo Co Ltd		297
	9,285		LG Household & Health Care Ltd		2,080
	34,444		Linde AG.		3,734
	9,530	e	Lonza Group AG.		1,039
	52,409		L’Oreal S.A.		5,211
	24,089		Lubrizol Corp		1,721
	93,742		Lupin Ltd		2,212
	178,912	e	Mediceo Paltac Holdings Co Ltd		2,517
	725,762	e	Merck & Co, Inc		22,956
	14,137		Merck KGaA		1,406

184

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	126,850		Mitsubishi Chemical Holdings Corp	$	527
	37,269	e	Mitsubishi Gas Chemical Co, Inc		203
	799,761		Monsanto Co		61,902
	83,712	e	Mosaic Co		4,024
	329,024	*,e	Mylan Laboratories, Inc		5,268
	70,200	e	Nichi-iko Pharmaceutical Co Ltd		2,264
	182,455	e	Nissan Chemical Industries Ltd		2,630
	2,347,931		Novartis AG.		117,475
	83,000		Novartis AG. (ADR)		4,182
	105,896		Novo Nordisk AS (Class B)		6,630
	11,546	e	Novozymes AS (B Shares)		1,087
	15,665	e	Nufarm Ltd		157
	7,966		Ono Pharmaceutical Co Ltd		414
	17,872	e	Orion Oyj (Class B)		330
	82,310	*,e	Pactiv Corp		2,144
	74,559	e	Perrigo Co		2,534
	3,301,583		Pfizer, Inc		54,641
	132,233		Potash Corp of Saskatchewan		11,995
	114,327		PPG Industries, Inc		6,655
	113,684		Praxair, Inc		9,287
	1,041,867		Procter & Gamble Co		60,345
	596,868		PTT Chemical PCL		1,309
	639,960		Reckitt Benckiser Group plc		31,276
	417,215		Roche Holding AG.		67,436
	408,440		Sanofi-Aventis		29,974
	6,356		Santen Pharmaceutical Co Ltd		234
	1,050,501		Schering-Plough Corp		29,677
	41,573	e	Sherwin-Williams Co		2,501
	209,647		Shin-Etsu Chemical Co Ltd		12,892
	35,073		Shionogi & Co Ltd		830
	2,189,456		Shire Ltd		37,930
	34,148	e	Shiseido Co Ltd		595
	135,654	e	Showa Denko KK		277
	92,007	e	Sigma-Aldrich Corp		4,967
	3,655,585	e	Sinochem Hong Kong Holding Ltd		1,623
	368,800	*	Sinopharm Group Co		935
	14,055		Solvay S.A.		1,459
	50,000		Stada Arzneimittel AG.		1,367
	181,748		Sumitomo Chemical Co Ltd		757
	98,076		Syngenta AG.		22,534
	12,079	e	Taisho Pharmaceutical Co Ltd		244
	666,000		Taiwan Fertilizer Co Ltd		2,382
	338,897	e	Taiyo Nippon Sanso Corp		4,036
	90,183		Takeda Pharmaceutical Co Ltd		3,757
	108,531	*	Talercris Biotherapeutics Holdings Corp		2,062
	23,721		Tanabe Seiyaku Co Ltd		316

185

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,487,190		Teva Pharmaceutical Industries Ltd (ADR)	$	75,192
	357,689	*,e	Theravance, Inc		5,237
	601,500		Tokai Carbon Co Ltd		2,841
	22,693	e	Tokuyama Corp		166
	140,283	e	Toray Industries, Inc		850
	51,647	e	Tosoh Corp		131
	138,474	e	Tsumura & Co		4,998
	101,012		UBE Industries Ltd		266
	216,290	e	UCB S.A.		9,128
	503,020		United Phosphorus Ltd		1,734
	255,000	*,e	Vanda Pharmaceuticals, Inc		2,968
	33,311	*	Vertex Pharmaceuticals, Inc		1,262
	3,485		Wacker Chemie AG.		544
	25,553	*,e	Warner Chilcott plc		552
	49,713	*	Watson Pharmaceuticals, Inc		1,821
	862,770		Wyeth		41,913
	46,647		Yara International ASA		1,468
			TOTAL CHEMICALS AND ALLIED PRODUCTS		1,379,517
COAL MINING - 0.29%
	55,587	*,e	Alpha Natural Resources, Inc		1,951
	25,996	e	Arch Coal, Inc		575
	856,140	e	Centennial Coal Co Ltd		2,432
	6,936,847		China Coal Energy Co		9,076
	39,065	e	Consol Energy, Inc		1,762
	323,061	e	Gloucester Coal Ltd		1,798
	1,199,278		MacArthur Coal Ltd		9,989
	430,000		New World Resources NV		4,233
	117,957	e	Peabody Energy Corp		4,390
	403,353		Whitehaven Coal Ltd		1,324
			TOTAL COAL MINING		37,530
COMMUNICATIONS - 4.75%
	177,474	*,e	American Tower Corp (Class A)		6,460
	2,578,938		AT&T, Inc		69,658
	211,191		BCE, Inc		5,206
	34,233		Belgacom S.A.		1,334
	137,780		Bharti Airtel Ltd		1,199
	255,313		British Sky Broadcasting plc		2,332
	17,511,773		BT Group plc		36,382
	539,159		Cable & Wireless plc		1,236
	37,015		Cablevision Systems Corp (Class A)		879
	86,226		Carphone Warehouse Group plc		263
	134,000	e	CBS Corp (Class B)		1,615
	119,894	e	CenturyTel, Inc		4,028
	2,381,716	e	Comcast Corp (Class A)		40,227

186

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	134,407		Comcast Corp (Special Class A)	$	2,161
	107,983	*,e	Crown Castle International Corp		3,386
	2,914,660		Deutsche Telekom AG.		39,794
	452,035	*,e	DIRECTV Group, Inc		12,467
	379,823	*	DISH Network Corp (Class A)		7,315
	29,075		Elisa Oyj (Series A)		597
	18,148	e	Eutelsat Communications		552
	652,578	e	France Telecom S.A.		17,385
	50		Fuji Television Network, Inc		82
	64,480		Globe Telecom, Inc		1,334
	55,876		Hellenic Telecommunications Organization S.A.		924
	2,868	e	Hikari Tsushin, Inc		63
	7,338,000	e	Hutchison Telecommunications Hong Kong Holdings Ltd		1,231
	100,013	*,e	IAC/InterActiveCorp		2,019
	3,894	e	Iliad Sa		439
	246		Jupiter Telecommunications Co		238
	1,235		KDDI Corp		6,962
	239,927	*	Level 3 Communications, Inc		333
	24,570	*	Liberty Global, Inc (Class A)		555
	15,884	*,e	Liberty Global, Inc (Series C)		357
	148,756	*	Liberty Media Corp - Entertainment (Series A)		4,628
	118,309	*	Liberty Media Holding Corp (Interactive A)		1,298
	12,858		M6-Metropole Television		338
	15,445	e	Manitoba Telecom Services, Inc		481
	151,167	e	Mediaset S.p.A.		1,057
	113,591	*,e	MetroPCS Communications, Inc		1,063
	6,080		Mobistar S.A.		421
	73,853	*	NII Holdings, Inc (Class B)		2,214
	504,991		Nippon Telegraph & Telephone Corp		23,403
	6,718		NTT DoCoMo, Inc		10,732
	318,749	e	PCCW Ltd		83
	62,298		Philippine Long Distance Telephone Co (ADR)		3,202
	121,898		Portugal Telecom SGPS S.A.		1,291
	425,960	e	Qwest Communications International, Inc		1,623
	223,168	e	Rogers Communications, Inc (Class B)		6,301
	1,327,999		Royal KPN NV		22,028
	32,305	*,e	SBA Communications Corp (Class A)		873
	127,422	e	Scripps Networks Interactive (Class A)		4,708
	68,662		SES Global S.A.		1,557
	150,429	e	Shaw Communications, Inc (B Shares)		2,723
	3,808,508		Singapore Telecommunications Ltd		8,787
	24,549	e	Societe Television Francaise 1		431
	1,585,794	*,e	Sprint Nextel Corp		6,264
	47,274		StarHub Ltd		73
	5,185		Swisscom AG.		1,855
	1,592,923		Taiwan Mobile Co Ltd		2,948

187

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	201,963		Tele Norte Leste Participacoes S.A.(ADR)	$	3,795
	64,553	e	Tele2 AB (B Shares)		857
	189,710		Telecom Corp of New Zealand Ltd		364
	1,273,730		Telecom Italia RSP		1,566
	2,166,885		Telecom Italia S.p.A.		3,802
	80,000		Telefonica O2 Czech Republic A.S.		1,980
	1,693,220		Telefonica S.A.		46,718
	572,876		Telekom Austria AG.		10,328
	17,400		Telenet Group Holding NV		459
	178,563		Telenor ASA		2,068
	42,217	e	Telephone & Data Systems, Inc		1,309
	28,177		Television Broadcasts Ltd		121
	496,822		TeliaSonera AB		3,264
	489,033	e	Telstra Corp Ltd		1,411
	24,160		TELUS Corp		779
	62,100		TELUS Corp, non-voting shares		1,932
	169,383	e	Time Warner Cable, Inc		7,299
	4,963		Tokyo Broadcasting System, Inc		84
	17,135,100	*	True Corp PCL		1,692
	1,461,136		Verizon Communications, Inc		44,229
	373,214	*	Viacom, Inc (Class B)		10,465
	272,374		Vivendi Universal S.A.		8,428
	29,298,618		Vodafone Group plc		65,647
	272,645		Vodafone Group plc (ADR)		6,135
	66,184	e	Windstream Corp		670
			TOTAL COMMUNICATIONS		604,797
DEPOSITORY INSTITUTIONS - 11.57%
	26,083	e	77 Bank Ltd		149
	76,745		Alpha Bank S.A.		1,415
	1,600,000		AMMB Holdings Berhad		1,969
	147,992	*,m	Anglo Irish Bank Corp plc		47
	68,848		Aozora Bank Ltd		100
	3,444	e	Associated Banc-Corp		39
	1,542,648	*,e	Australia & New Zealand Banking Group Ltd		33,193
	145,021	e	Banca Carige S.p.A.		433
	1,806,721	*	Banca Intesa S.p.A.		7,991
	190,348		Banca Intesa S.p.A. RSP		676
	543,632	e	Banca Monte dei Paschi di Siena S.p.A.		1,163
	75,190		Banca Popolare di Milano		572
	138,967		Banche Popolari Unite Scpa		2,133
	1,119,276		Banco Bilbao Vizcaya Argentaria S.A.		19,868
	263,391	e	Banco Bradesco S.A. (ADR)		5,239
	454,387		Banco Comercial Portugues S.A.		672
	2,062,800		Banco de Oro Universal Bank		1,502
	218,151	e	Banco de Sabadell S.A.		1,614

188

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	61,781	e	Banco de Valencia S.A.	$	580
	154,954		Banco do Brasil S.A.		2,732
	127,479		Banco Espirito Santo S.A.		905
	140,906		Banco Popolare Scarl		1,352
	161,970	e	Banco Popular Espanol S.A.		1,624
	6,400,712		Banco Santander Central Hispano S.A.		103,030
	462,500		Bangkok Bank PCL (ADR)		1,675
	4,287,629		Bank of America Corp		72,546
	504,428		Bank of East Asia Ltd		1,822
	475,177		Bank of India		4,100
	525,000		Bank of Ireland		2,627
	30,653	e	Bank of Kyoto Ltd		282
	243,414	e	Bank of Montreal		12,316
	406,841		Bank of New York Mellon Corp		11,794
	444,887		Bank of NOVA Scotia		20,307
	55,609		Bank of Okinawa Ltd		1,976
	1,344,900		Bank of the Philippine Islands		1,277
	150,408		Bank of the Ryukyus Ltd		1,852
	544,805		Bank of Yokohama Ltd		2,670
	64,106		Bankinter S.A.		809
	6,584,830		Barclays plc		38,937
	153,815	e	BB&T Corp		4,190
	27,906	e	Bendigo Bank Ltd		231
	460,367	e	BNP Paribas		36,783
	530,948	e	BOC Hong Kong Holdings Ltd		1,165
	171,512	e	Canadian Imperial Bank of Commerce/Canada		10,459
	79,635		Chiba Bank Ltd		493
	7,955,000		China Construction Bank		6,354
	1,345,347	e	China Merchants Bank Co Ltd		3,000
	2,212,458		Chinatrust Financial Holding Co		1,435
	15,000	e	Chugoku Bank Ltd		190
	7,907,066		Citigroup, Inc		38,270
	72,147		Comerica, Inc		2,141
	140,610	e	Commerzbank AG.		1,783
	698,123	e	Commonwealth Bank of Australia		31,872
	30,714		Credicorp Ltd		2,388
	206,230	e	Credit Agricole S.A.		4,310
	95,826		Danske Bank AS		2,510
	1,760,628		DBS Group Holdings Ltd		16,598
	210,132	e	Deutsche Bank AG.		16,127
	17,944	*,e	Deutsche Postbank AG.		635
	110,977		Dexia		1,023
	169,264		DNB NOR Holding ASA		1,960
	66,621		EFG Eurobank Ergasias S.A.		1,048
	37,840	e	Erste Bank der Oesterreichischen Sparkassen AG.		1,691
	266,858	e	Fifth Third Bancorp		2,703

189

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	75,000	*,e	First Horizon National Corp	$	992
	3,227,581	*	Fortis		15,119
	1,035,000		Fubon Financial Holding Co Ltd		1,169
	3,178,365		Fuhwa Financial Holdings Co Ltd		2,353
	78,167		Fukuoka Financial Group, Inc		325
	38,774		Gunma Bank Ltd		213
	38,000		Hachijuni Bank Ltd		212
	98,593		Hang Seng Bank Ltd		1,421
	5,416		HDFC Bank Ltd		186
	46,744	e	Hiroshima Bank Ltd		193
	121,481	e	Hokuhoku Financial Group, Inc		284
	10,408,965		HSBC Holdings plc		119,106
	138,800		HSBC Holdings plc (Hong Kong)		1,610
	398,749		Hudson City Bancorp, Inc		5,244
	2,697,730	e	Huntington Bancshares, Inc		12,706
	1,619		ICICI Bank Ltd		31
	80,000		ICICI Bank Ltd (ADR)		3,085
	2,187,000		Industrial & Commercial Bank of China		1,648
	2,499,555	*	ING Groep NV		44,624
	86,118		Investec plc		630
	21,912	e	Iyo Bank Ltd		198
	65,338	e	Joyo Bank Ltd		321
	2,318,028		JPMorgan Chase & Co		101,575
	439,467		Julius Baer Holding AG.		21,946
	1,201,131		Kasikornbank PCL		3,164
	115,794	e	Keycorp		753
	3,504,819		Lloyds TSB Group plc		5,808
	11,495	e	M&T Bank Corp		716
	44,972	e	Marshall & Ilsley Corp		363
	110,410	e	Mediobanca S.p.A.		1,509
	37,131	*	Metavante Technologies, Inc		1,280
	2,000,000		Metropolitan Bank & Trust		1,625
	4,016,063		Mitsubishi UFJ Financial Group, Inc		21,565
	2,625,750		Mitsui Trust Holdings, Inc		9,741
	5,372,200		Mizuho Financial Group, Inc		10,653
	136,872	e	Mizuho Trust & Banking Co Ltd		145
	1,313,483	e	National Australia Bank Ltd		35,643
	70,980	e	National Bank of Canada		3,947
	229,200		National Bank of Greece S.A.		8,217
	182,207		Natixis		1,099
	95,938	e	New York Community Bancorp, Inc		1,096
	66,721		Nishi-Nippon City Bank Ltd		169
	755,017	e	Nordea Bank AB		7,603
	133,528	e	Northern Trust Corp		7,766
	45,201		OKO Bank (Class A)		516
	982,614	e	Oversea-Chinese Banking Corp		5,476

190

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	104,343		People’s United Financial, Inc	$	1,624
	64,195		Piraeus Bank S.A.		1,190
	98,402		PNC Financial Services Group, Inc		4,781
	2,379,500		PT Bank Danamon Indonesia Tbk		1,219
	10,447	e	Raiffeisen International Bank Holding AG.		681
	1,125,071	e	Regions Financial Corp		6,987
	54,600		Resona Holdings, Inc		703
	626,704	e	Royal Bank of Canada (Toronto)		33,687
	3,931,874		Royal Bank of Scotland Group plc		3,327
	57,109	*	Royal Bank of Scotland Group plc (Euro)		48
	31,300	*	Sapporo Hokuyo Holdings, Inc		111
	76		SEVEN BANK Ltd		188
	126,320	*,e	Shinsei Bank Ltd		194
	61,727		Shizuoka Bank Ltd		652
	900,800		Siam Commercial Bank PCL		2,292
	325,012	e	Skandinaviska Enskilda Banken AB (Class A)		2,191
	539,725		Societe Generale		43,439
	25,000		State Bank of India Ltd		1,141
	388,187		State Street Corp		20,419
	456,100		Sumitomo Mitsui Financial Group, Inc		15,904
	872,488		Sumitomo Trust & Banking Co Ltd		4,636
	410,763		Suncorp-Metway Ltd		3,218
	892,763	e	SunTrust Banks, Inc		20,132
	265,689	e	Suruga Bank Ltd		2,513
	111,042		Svenska Handelsbanken (A Shares)		2,835
	73,235	e	Swedbank AB (A Shares)		699
	442,639	e	TCF Financial Corp		5,772
	78,245	e	TFS Financial Corp		931
	379,223	e	Toronto-Dominion Bank		24,528
	150,000	*	UBS A.G.		2,747
	3,556,508	*	UBS A.G. (Switzerland)		65,104
	6,747,432	*,e	UniCredito Italiano S.p.A		26,363
	444,741		United Overseas Bank Ltd		5,298
	1,826,954		US Bancorp		39,937
	24,542	*,b,e	Washington Mutual, Inc		6
	2,569,000		Wells Fargo & Co		72,394
	495,725		Western Union Co		9,379
	1,097,761	e	Westpac Banking Corp		25,422
	17,626		Wing Hang Bank Ltd		173
	20,666		Yamaguchi Financial Group, Inc		214
			TOTAL DEPOSITORY INSTITUTIONS		1,470,471
EATING AND DRINKING PLACES - 1.00%
	1,314,000		Ajisen China Holdings Ltd		1,170
	20,134	e	Autogrill S.p.A.		243
	292,400		Brinker International, Inc		4,599

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	12,007,081		Compass Group plc	$	73,360
	77,914		Darden Restaurants, Inc		2,659
	950,000		Enterprise Inns plc		1,890
	507,583		McDonald’s Corp		28,968
	6,100		McDonald’s Holdings Co Japan Ltd		122
	41,806		Onex Corp		1,025
	20,153	e	Sodexho Alliance S.A.		1,207
	215,772	*,e	Starbucks Corp		4,456
	44,436	e	Tim Hortons, Inc		1,258
	40,377		Whitbread plc		785
	160,108		Yum! Brands, Inc		5,405
			TOTAL EATING AND DRINKING PLACES		127,147
EDUCATIONAL SERVICES - 0.13%
	95,894	*	Apollo Group, Inc (Class A)		7,064
	82,282		Benesse Corp		4,033
	107,623		CAE, Inc		910
	10,136		DeVry, Inc		561
	31,497	*,e	ITT Educational Services, Inc		3,478
			TOTAL EDUCATIONAL SERVICES		16,046
ELECTRIC, GAS, AND SANITARY SERVICES - 3.92%
	237,361		A2A S.p.A.		466
	20,676		ACEA S.p.A.		271
	863,867	*	Adani Power Ltd		1,830
	318,554	*	AES Corp		4,721
	50,523		AGL Energy Ltd		609
	95,952	e	Allegheny Energy, Inc		2,545
	22,632	e	Alliant Energy Corp		630
	42,204		Ameren Corp		1,067
	119,412		American Electric Power Co, Inc		3,701
	178,845		American Water Works Co, Inc		3,566
	21,265	e	Aqua America, Inc		375
	8,563,500	*	Beijing Enterprises Water Group Ltd		1,735
	3,024		Bkw Fmb Energie AG		262
	170,814	*,e	Calpine Corp		1,968
	35,733		Canadian Utilities Ltd		1,265
	664,818		Centerpoint Energy, Inc		8,264
	1,224,490		Centrica plc		4,924
	1,317,400		China Resources Power Holdings Co		3,063
	79,761		Chubu Electric Power Co, Inc		1,937
	28,692	e	Chugoku Electric Power Co, Inc		631
	217,521		CLP Holdings Ltd		1,476
	87,053		Companhia de Saneamento Basico do Estado de Sao Paulo (ADR)		3,302
	226,338		Companhia Paranaense de Energia		4,005
	55,505	e	Consolidated Edison, Inc		2,272

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	460,341	e	Constellation Energy Group, Inc	$	14,901
	28,598		Contact Energy Ltd		119
	141,055	e	Dominion Resources, Inc		4,866
	78,602		Drax Group plc		592
	33,076	e	DTE Energy Co		1,162
	2,039,830		DUET Group		3,050
	332,028	e	Duke Energy Corp		5,226
	24,700	*,e	Dynegy, Inc (Class A)		63
	1,537,123		E.ON AG.		65,186
	94,802	e	Edison International		3,183
	47,422	*	EDP Renovaveis S.A.		522
	208,906	e	El Paso Corp		2,156
	13,839	e	Electric Power Development Co		439
	54,460		Electricite de France		3,231
	163,660		Eletropaulo Metropolitana de Sao Paulo S.A.		3,349
	37,945		Enagas		793
	158,585	e	Enbridge, Inc		6,157
	1,491,970		Enel S.p.A.		9,470
	78,142		Energen Corp		3,368
	1,220,335		Energias de Portugal S.A.		5,589
	97,126		Entergy Corp		7,756
	498,198		Exelon Corp		24,721
	138,057		FirstEnergy Corp		6,312
	73,081	e	Fortis, Inc		1,705
	1,141,526		Fortum Oyj		29,266
	180,704		FPL Group, Inc		9,980
	47,478		Gas Natural SDG S.A.		1,049
	905,110	e	Gaz de France		40,192
	1,186,800		Glow Energy PCL		1,163
	17,982	e	Hokkaido Electric Power Co, Inc		374
	19,075	e	Hokuriku Electric Power Co		486
	477,515		Hong Kong & China Gas Ltd		1,206
	177,364		Hong Kong Electric Holdings Ltd		973
	670,462		Iberdrola Renovables		3,297
	1,508,762		Iberdrola S.A.		14,804
	11,641	e	Integrys Energy Group, Inc		418
	1,233,380		International Power plc		5,697
	92,653		Kansai Electric Power Co, Inc		2,240
	39,947	e	Kyushu Electric Power Co, Inc		906
	28,185		MDU Resources Group, Inc		588
	286,005	*,e	Mirant Corp		4,699
	570,420		National Grid plc		5,506
	54,931	e	NiSource, Inc		763
	24,787	e	Northeast Utilities		588
	436,657	*,e	NRG Energy, Inc		12,309
	14,593	e	NSTAR		464

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	18,814	e	Oest Elektrizitatswirts AG. (Class A)	$	951
	19,748	e	Oneok, Inc		723
	204,846		Osaka Gas Co Ltd		719
	41,866	e	Pepco Holdings, Inc		623
	155,668	e	PG&E Corp		6,303
	19,450		Pinnacle West Capital Corp		638
	76,168	e	PPL Corp		2,311
	48,814	e	Progress Energy, Inc		1,907
	26,064		Public Power Corp		580
	515,182	e	Public Service Enterprise Group, Inc		16,197
	138,052		Questar Corp		5,185
	22,761		Red Electrica de Espana		1,165
	942,873	*,e	Reliant Energy, Inc		6,732
	761,338		Republic Services, Inc		20,229
	97,187		RWE A.G.		9,027
	5,020		RWE A.G. (Preference)		413
	21,468		SCANA Corp		749
	200,150		Scottish & Southern Energy plc		3,752
	105,857		Sempra Energy		5,273
	48,887		Severn Trent plc		758
	18,600	e	Shikoku Electric Power Co, Inc		568
	370,881		Snam Rete Gas S.p.A.		1,805
	169,159		Southern Co		5,357
	112,864	e	SP AusNet		88
	20,674	*	Stericycle, Inc		1,002
	57,822		Suez Environnement S.A.		1,321
	276,144		Terna Rete Elettrica Nazionale S.p.A.		1,077
	41,000		Toho Gas Co Ltd		187
	45,041	e	Tohoku Electric Power Co, Inc		1,004
	465,128	e	Tokyo Electric Power Co, Inc		12,203
	765,838		Tokyo Gas Co Ltd		3,182
	85,772	e	TransAlta Corp		1,750
	164,962		United Utilities Group plc		1,204
	85,602		Veolia Environnement		3,281
	200,547	e	Waste Management, Inc		5,980
	205,609		Williams Cos, Inc		3,674
	27,736		Wisconsin Energy Corp		1,253
	118,188		Xcel Energy, Inc		2,274
	318,000		Xinao Gas Holdings Ltd		632
	1,032,000	*,m	Yingde Gases		932
			TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		498,778
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.26%
	64,790	*	A123 Systems, Inc		1,381
	814,052		ABB Ltd		16,339
	600,000	*	A-DATA Technology Co Ltd		1,456

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,107,634	*,e	Advanced Micro Devices, Inc	$	6,269
	3,080,000		Advanced Semiconductor Engineering, Inc		2,534
	480,507	*,e	Alcatel S.A.		2,150
	50,409	e	Altera Corp		1,034
	25,053	e	Ametek, Inc		875
	73,090	e	Amphenol Corp (Class A)		2,754
	145,805	e	Analog Devices, Inc		4,021
	490,575	*	Apple Computer, Inc		90,938
	2,135,536		Asustek Computer, Inc		3,667
	117,257	*,e	Avnet, Inc		3,045
	153,153	*,e	Broadcom Corp (Class A)		4,700
	24,300		Canon Electronics, Inc		453
	348,213	*,e	Celestica, Inc		3,301
	3,425,832	*	Cisco Systems, Inc		80,644
	123,851		Cooper Industries plc		4,653
	47,595	*,e	Dolby Laboratories, Inc (Class A)		1,818
	42,456		Eaton Corp		2,403
	11,508	*,e	Elpida Memory, Inc		151
	165,580	*	Energizer Holdings, Inc		10,985
	22,298	*,e	EnerSys		493
	656,155	e	Ericsson (LM) (B Shares)		6,589
	52,680	*,e	First Solar, Inc		8,053
	258,362	*	Flextronics International Ltd		1,927
	205,728	*	Foxconn International Holdings Ltd		135
	58,822	e	Fuji Electric Holdings Co Ltd		109
	39,105		Gamesa Corp Tecnologica S.A.		876
	57,901	*	Gemalto NV		2,700
	5,265,734		General Electric Co		86,463
	1,971,502		Geodesic Information Systems Ltd		5,709
	38,000	e	GS Yuasa Corp		347
	22,122	e	Harris Corp		832
	351	*	Harris Stratex Networks, Inc (Class A)		2
	154,000		High Tech Computer Corp		1,691
	3,151	e	Hirose Electric Co Ltd		355
	11,852		Hitachi Chemical Co Ltd		242
	7,200	e	Hitachi High-Technologies Corp		151
	1,628,548		Hitachi Ltd		5,007
	2,220,544		Hon Hai Precision Industry Co, Ltd		8,910
	270,117		Hoya Corp		6,379
	137,872	*	Ibiden Co Ltd		5,130
	691,362	*	Imagination Technologies Group PLC		1,823
	1,830,149	*	Infineon Technologies AG.		10,324
	3,248,397		Intel Corp		63,571
	206,847		Koninklijke Philips Electronics NV		5,037
	17,138	e	Kyocera Corp		1,590
	93,434		L-3 Communications Holdings, Inc		7,505

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	17,333	e	Legrand S.A.	$	482
	62,974		LG Electronics, Inc		6,708
	74,758	e	Linear Technology Corp		2,066
	811,710	*,e	LSI Logic Corp		4,456
	2,716		Mabuchi Motor Co Ltd		138
	166,845	*,e	Marvell Technology Group Ltd		2,701
	738,155		Matsushita Electric Industrial Co Ltd		10,879
	38,956	e	Matsushita Electric Works Ltd		466
	193,031		Maxim Integrated Products, Inc		3,502
	251,430		MediaTek, Inc		4,192
	70,578	*,e	MEMC Electronic Materials, Inc		1,174
	30,233	e	Microchip Technology, Inc		801
	561,871	*,e	Micron Technology, Inc		4,607
	17,108	e	Millicom International Cellular S.A.		1,249
	32,716	e	Minebea Co Ltd		150
	1,863,785		Mitsubishi Electric Corp		14,119
	8,222		Mitsumi Electric Co Ltd		178
	656,977		Motorola, Inc		5,643
	31,729		Murata Manufacturing Co Ltd		1,506
	213,561	e	National Semiconductor Corp		3,048
	614,169	*,e	NetApp, Inc		16,386
	14,988	e	NGK Spark Plug Co Ltd		191
	86,306		Nidec Corp		7,009
	17,477		Nitto Denko Corp		535
	1,705,103		Nokia Oyj		25,076
	12,407	*,e	Nortel Networks Corp		2
	896,657	*	Nvidia Corp		13,477
	21,302		Omron Corp		402
	1,914,050		Powertech Technology, Inc		5,751
	1,014,786		Qualcomm, Inc		45,645
	1,811,162		Quanta Computer, Inc		3,803
	74,427	*,e	Renewable Energy Corp AS		653
	288,376	*	Research In Motion Ltd (Canada)		19,495
	795,581	e	Ricoh Co Ltd		11,593
	3,699	e	Rinnai Corp		175
	15,424		Rohm Co Ltd		1,079
	15,255		Samsung Electronics Co Ltd		10,552
	167,975	*,e	Sanyo Electric Co Ltd		399
	52,232	*	SGL Carbon AG.		2,137
	99,106	e	Sharp Corp		1,102
	122,674	e	Shinko Electric Industries		2,185
	138,700	*,e	Sirius XM Radio, Inc		88
	763,256		Smiths Group plc		10,838
	35,673,611		Solomon Systech International Ltd		3,452
	519,602		Sony Corp		15,368
	15,535		Stanley Electric Co Ltd		315

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	141,804		STMicroelectronics NV	$	1,336
	97,976	e	Sumco Corp		2,227
	13,778	*,e	Sunpower Corp (Class A)		412
	3,600	*,e	Sunpower Corp (Class B)		91
	3,356,204		Taiwan Semiconductor Manufacturing Co Ltd		6,734
	231,149		Taiwan Semiconductor Manufacturing Co Ltd (ADR)		2,533
	111,066		TDK Corp		6,422
	564,996		Texas Instruments, Inc		13,385
	68,600	*,e	Toyota Boshoku Corp		1,353
	150,570		Tyco Electronics Ltd		3,355
	325,745	e	Ushio, Inc		5,679
	11,032	e	Whirlpool Corp		772
	74,301		Xilinx, Inc		1,740
	11,274,000		Yageo Corp		3,160
	22,384	e	Yaskawa Electric Corp		162
	481,299	e	ZTE Corp		2,540
			TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		795,195
ENGINEERING AND MANAGEMENT SERVICES - 0.58%
	278,469		Accenture plc		10,378
	163,200		Aeon Mall Co Ltd		3,398
	883	*	Amylin Pharmaceuticals, Inc		12
	29,351	e	Cap Gemini S.A.		1,537
	144,027		Capita Group plc		1,663
	79,841	e	Fluor Corp		4,060
	12,068		Fugro NV		697
	32,300	*,e	Gen-Probe, Inc		1,339
	82,774		Groupe Aeroplan, Inc		765
	66,683	*,e	Hewitt Associates, Inc (Class A)		2,429
	48,303	*,e	Jacobs Engineering Group, Inc		2,220
	384,142		JGC Corp		7,857
	250,535		KBR, Inc		5,835
	125,985	*	McDermott International, Inc		3,184
	13,980	*	Myriad Genetics, Inc		383
	42,400	e	NPC, Inc		1,176
	61,492	e	Paychex, Inc		1,786
	38,147		Petrofac Ltd		602
	70,477	*,e	SAIC, Inc		1,236
	1,237,811		SembCorp Industries Ltd		2,979
	321,531		Serco Group plc		2,595
	977,000		Shandong Weigao Group Medical Polymer Co Ltd		3,227
	177,907	*	Shaw Group, Inc		5,709
	65,424	e	SNC-Lavalin Group, Inc		2,955
	12,846	*	URS Corp		561
	128,941	e	WorleyParsons Ltd		3,380
	102,471	*	WuXi PharmaTech Cayman, Inc (ADR)		1,222
			TOTAL ENGINEERING AND MANAGEMENT SERVICES		73,185

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
FABRICATED METAL PRODUCTS - 0.34%
	851,836		Amcor Ltd	$	4,118
	14,050	e	Ball Corp		691
	554,554	*	Crown Holdings, Inc		15,083
	9,210	e	Geberit AG.		1,415
	16,000	e	Hitachi Metals Ltd		164
	131,322		Illinois Tool Works, Inc		5,609
	26,008		JS Group Corp		456
	45,768		Parker Hannifin Corp		2,373
	178,360	e	Pentair, Inc		5,265
	1,121,330		Rexam plc		4,677
	8,592		Salzgitter AG.		824
	35,590	e	Ssab Svenskt Stal AB (Series A)		551
	17,094	e	Ssab Svenskt Stal AB (Series B)		242
	28,503		Stanley Works		1,217
	16,055	e	Toyo Seikan Kaisha Ltd		309
			TOTAL FABRICATED METAL PRODUCTS		42,994
FOOD AND KINDRED PRODUCTS - 3.78%
	69,214		Ajinomoto Co, Inc		693
	56,720	*	Anheuser-Busch InBev NV		0	^
	302,314	e	Archer Daniels Midland Co		8,834
	16,059	*	Aryzta AG.		651
	545,841		Asahi Breweries Ltd		9,985
	658,400		Asiatic Development BHD		1,141
	72,925		Associated British Foods plc		987
	451,500		Beijing Enterprises Holdings Ltd		2,391
	94,947	e	Bunge Ltd		5,945
	78		C&C Group plc		0	^
	286,996		Cadbury plc		3,683
	39,794		Campbell Soup Co		1,298
	22,616		Carlsberg AS (Class B)		1,638
	4,410,000		China Agri-Industries Holdings Ltd		4,120
	38,545		Coca Cola Hellenic Bottling Co S.A.		1,026
	237,698		Coca-Cola Amatil Ltd		2,057
	916,100		Coca-Cola Co		49,195
	351,310	e	Coca-Cola Enterprises, Inc		7,522
	5,771	e	Coca-Cola West Japan Co Ltd		113
	253,319		ConAgra Foods, Inc		5,492
	84,330	*	Constellation Brands, Inc (Class A)		1,278
	1,591,652	e	CSR Ltd		2,640
	270,000		Del Monte Foods Co		3,127
	572,227		Diageo plc		8,779
	50,309	*,e	Dr Pepper Snapple Group, Inc		1,446

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	374,816		General Mills, Inc	$	24,131
	586,497		Golden Agri-Resources Ltd		179
	115,041	e	Groupe Danone		6,932
	94,867		H.J. Heinz Co		3,771
	22,162	*	Hansen Natural Corp		814
	336,091		Heineken NV		15,495
	65,321	e	Hershey Co		2,538
	10,612	e	Hormel Foods Corp		377
	826,914		InBev NV		37,760
	6,537	e	Ito En Ltd		121
	24,109	e	J.M. Smucker Co		1,278
	27,448		Kaneka Corp		197
	112,113		Kellogg Co		5,519
	28,721		Kerry Group plc (Class A)		822
	850,533		Kirin Brewery Co Ltd		13,038
	658,638		Kraft Foods, Inc (Class A)		17,302
	156		Lindt & Spruengli AG.		379
	22		Lindt & Spruengli AG.		610
	27,334		Lion Nathan Ltd		276
	23,521		McCormick & Co, Inc		798
	6,998	*	MEIJI Holdings Co Ltd		299
	29,580		Molson Coors Brewing Co (Class B)		1,440
	2,414,697		Nestle S.A.		102,899
	17,993		Nippon Meat Packers, Inc		231
	16,589		Nisshin Seifun Group, Inc		232
	7,155		Nissin Food Products Co Ltd		275
	115,298	e	Olam International Ltd		205
	393,487		Parmalat S.p.A.		1,088
	44,072		Pepsi Bottling Group, Inc		1,606
	16,561		PepsiAmericas, Inc		473
	764,288		PepsiCo, Inc		44,833
	39,852	e	Pernod-Ricard S.A.		3,165
	4,558,884	e,m	Petra Foods Ltd		2,719
	5,250,000		Premier Foods plc		3,524
	14,274	*	Ralcorp Holdings, Inc		835
	71,023		Reynolds American, Inc		3,162
	279,102		SABMiller plc		6,731
	22,795	e	Sapporo Holdings Ltd		116
	62,393		Saputo, Inc		1,464
	276,687	e	Sara Lee Corp		3,082
	100,000	*,e	Smithfield Foods, Inc		1,380
	118,662	e	Suedzucker AG.		2,405
	94,704		Swire Pacific Ltd (Class A)		1,113
	158,099		Toyo Suisan Kaisha Ltd		4,280
	165,184		Tyson Foods, Inc (Class A)		2,086
	1,040,940		Unilever plc		29,578

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,073,000		Wilmar International Ltd	$	4,814
	9,526	e	Yakult Honsha Co Ltd		254
	10,553	e	Yamazaki Baking Co Ltd		143
			TOTAL FOOD AND KINDRED PRODUCTS		480,810
FOOD STORES - 0.78%
	164,178		Alimentation Couche Tard, Inc		2,875
	134,576		Carrefour S.A.		6,105
	3,473	e	Colruyt S.A.		816
	22,112		Delhaize Group		1,535
	11,677		Empire Co Ltd		477
	5,344	e	FamilyMart Co Ltd		172
	22,162		George Weston Ltd		1,154
	128,955	e	Goodman Fielder Ltd		190
	225,953		J Sainsbury plc		1,174
	46,739	e	Jeronimo Martins SGPS S.A.		409
	13,655	e	Kesko Oyj (B Shares)		458
	503,724		Koninklijke Ahold NV		6,059
	463,758		Kroger Co		9,572
	13,590		Lawson, Inc		631
	47,023		Loblaw Cos Ltd		1,388
	88,059		Safeway, Inc		1,737
	193,536		Seven & I Holdings Co Ltd		4,635
	98,747	e	Supervalu, Inc		1,487
	3,163,269	*	Taiwan TEA Corp		2,111
	6,493,544		Tesco plc		41,469
	4,985,000		Want Want China Holdings Ltd		2,933
	73,900	*,e	Whole Foods Market, Inc		2,253
	458,813		WM Morrison Supermarkets plc		2,033
	290,608		Woolworths Ltd		7,499
			TOTAL FOOD STORES		99,172
FORESTRY - 0.04%
	26,918		Rayonier, Inc		1,101
	116,886	e	Weyerhaeuser Co		4,284
			TOTAL FORESTRY		5,385
FURNITURE AND FIXTURES - 0.03%
	57,000	*,e	Kinetic Concepts, Inc		2,108
	21,882	e	Leggett & Platt, Inc		425
	112,187	e	Masco Corp		1,449
			TOTAL FURNITURE AND FIXTURES		3,982
FURNITURE AND HOME FURNISHINGS STORES - 0.23%
	48,352	*	Bed Bath & Beyond, Inc		1,815
	364,085	e	Best Buy Co, Inc		13,660

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,818,000		DSG International PLC	$	777
	31,304	*,e	GameStop Corp (Class A)		829
	42,082	e	Harvey Norman Holdings Ltd		160
	35,300		K’s Holdings Corp		1,184
	52,673		Nitori Co Ltd		4,489
	88,800	e	RadioShack Corp		1,471
	76,441		Yamada Denki Co Ltd		5,178
			TOTAL FURNITURE AND HOME FURNISHINGS STORES		29,563
GENERAL BUILDING CONTRACTORS - 0.56%
	85,637		ACS Actividades Cons y Servicios S.A.		4,466
	2,415,672		AMEC plc		29,147
	85,916		Balfour Beatty plc		442
	20,948		Berkeley Group Holdings plc		297
	553,661		Cheung Kong Infrastructure Holdings Ltd		1,979
	8,711		Daito Trust Construction Co Ltd		380
	452,780		Daiwa House Industry Co Ltd		4,741
	164,920	e	DR Horton, Inc		1,882
	10,001	e	Eiffage S.A.		637
	63,989		Fletcher Building Ltd		386
	2,231,000	e	Haseko Corp		2,187
	8,939		Hochtief AG.		681
	17,697,400	*	Italian-Thai Development PCL		1,960
	80,104	e	Kajima Corp		205
	40,600	e	Lend Lease Corp Ltd		380
	6,200		Lennar Corp (Class A)		88
	13,313	*	Leopalace21 Corp		107
	76,300		MDC Holdings, Inc		2,651
	7,855	*,e	NVR, Inc		5,007
	62,957	e	Obayashi Corp		276
	176,967	*,e	Pulte Homes, Inc		1,945
	49,474	f	Puravankara Projects Ltd		129
	70,000	e	Ryland Group, Inc		1,475
	17,866	e	Sacyr Vallehermoso S.A.		338
	39,271		Sekisui Chemical Co Ltd		228
	55,826		Sekisui House Ltd		504
	58,452	e	Shimizu Corp		230
	82,706		Skanska AB (B Shares)		1,214
	25,381		Sobha Developers Ltd		139
	94,136	e	Taisei Corp		187
	26,570	*,e	Toll Brothers, Inc		519
	112,599	e	Vinci S.A.		6,370
			TOTAL GENERAL BUILDING CONTRACTORS		71,177

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
GENERAL MERCHANDISE STORES - 1.28%
	65,791	e	Aeon Co Ltd	$	630
	18,000	*	Big Lots, Inc		450
	73,294	*,e	BJ’s Wholesale Club, Inc		2,655
	226,016		Costco Wholesale Corp		12,761
	233,125		David Jones Ltd		1,201
	113,191		Family Dollar Stores, Inc		2,988
	928,000	e	Golden Eagle Retail Group Ltd		1,557
	35,938	e	Isetan Mitsukoshi Holdings Ltd		413
	47,392	e	J Front Retailing Co Ltd		286
	74,468		JC Penney Co, Inc		2,513
	51,305	e	Keio Corp		350
	173,914	e	Kintetsu Corp		672
	66,500		Lifestyle International Holdings Ltd		101
	678,589		Macy’s, Inc		12,411
	785,214		Marks & Spencer Group plc		4,544
	23,409	e	Marui Co Ltd		168
	1,857,000		New World Department Store China Ltd		1,495
	241,190		Next plc		6,907
	66,105	e	Odakyu Electric Railway Co Ltd		597
	16,942	e	PPR		2,172
	8,414	*,e	Sears Holdings Corp		550
	18,765		Shinsegae Co Ltd		9,476
	186,950		SM Investments Corp		1,282
	29,162	e	Takashimaya Co Ltd		233
	313,684	e	Target Corp		14,643
	443,326		TJX Companies, Inc		16,470
	94,521	e	Tobu Railway Co Ltd		577
	130,146		Tokyu Corp		623
	15,920		UNY Co Ltd		119
	1,309,917		Wal-Mart Stores, Inc		64,303
			TOTAL GENERAL MERCHANDISE STORES		163,147
HEALTH SERVICES - 0.60%
	67,742	e	AmerisourceBergen Corp		1,516
	3,492,000		Bangkok Dusit Medical Service PCL		2,691
	2,634		BioMerieux		290
	13,949	*,e	Covance, Inc		755
	201,791	*	Coventry Health Care, Inc		4,028
	148,438	*	DaVita, Inc		8,408
	20,203	*,e	Edwards Lifesciences Corp		1,412
	87,927	*	Express Scripts, Inc		6,821
	85,354		Fraser and Neave Ltd		241
	46,358		Fresenius Medical Care AG.		2,309
	508,718	*	Healthsouth Corp		7,956
	41,844	*,e	Laboratory Corp of America Holdings		2,749
	90,535	*,e	Lincare Holdings, Inc		2,829
	337,961		McKesson Corp		20,127

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	147,848	*	Medco Health Solutions, Inc	$	8,177
	35,165	e	Mindray Medical International Ltd (ADR) (Class A)		1,148
	55,587		Omnicare, Inc		1,252
	17,503		Pharmaceutical Product Development, Inc		384
	228,068	e	Primary Health Care Ltd		1,249
	34,879		Quest Diagnostics, Inc		1,820
	34,779	e	Sonic Healthcare Ltd		436
			TOTAL HEALTH SERVICES		76,598
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.31%
	63,973		Abertis Infraestructuras S.A.		1,452
	6,081		Acciona S.A.		828
	84,772		Boskalis Westminster		2,895
	48,238	e	Bouygues S.A.		2,453
	180,000		Chiyoda Corp		1,418
	9,880		Fomento de Construcciones y Contratas S.A.		463
	39,582	*	Foster Wheeler AG.		1,263
	12,086	e	Grupo Ferrovial S.A.		578
	910,883		Saipem S.p.A.		27,431
	115,751	e	Transurban Group		419
			TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		39,200
HOLDING AND OTHER INVESTMENT OFFICES - 3.66%
	194,002		3i Group plc		895
	26,215	e	AMB Property Corp		602
	341,877		Annaly Mortgage Management, Inc		6,202
	6,255	e	Apartment Investment & Management Co (Class A)		92
	47,546		ARC Energy Trust		897
	1,572,473	e	Ascendas Real Estate Investment Trust		2,154
	24,161	e	AvalonBay Communities, Inc		1,757
	3,160	*	Berkshire Hathaway, Inc (Class B)		10,501
	127,453	e	Boston Properties, Inc		8,355
	217,779		Brookfield Asset Management, Inc		4,957
	10,100		Camden Property Trust		407
	158,446	e	CFS Gandel Retail Trust		281
	182,001	e	CI Financial Corp		3,500
	405,800		DB RREEF Trust		303
	6,737	e	Developers Diversified Realty Corp		62
	103,397	e	Duke Realty Corp		1,242
	81,710	e	Equity Residential		2,508
	2,987		Eurazeo		195
	36,750	e	Federal Realty Investment Trust		2,255
	4,592	e	Fonciere Des Regions		535
	5,494,140	e	GOME Electrical Appliances Holdings Ltd		1,467
	878,542		GPT Group		531
	18,402		Groupe Bruxelles Lambert S.A.		1,700

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	477	*	Groupe Bruxelles Lambert S.A. - STR VVPR	$	0	^
	55,014	e	HCP, Inc		1,581
	53,106		Health Care REIT, Inc		2,210
	22,504		Heineken Holding NV		918
	288,556		Host Marriott Corp		3,396
	641,581		Investimentos Itau S.A.		3,882
	1,651,359	e	iShares MSCI Canada Index Fund		42,077
	2,046,133	e	iShares MSCI EAFE Index Fund		111,924
	150,000	e	iShares MSCI Hong Kong Index Fund		2,328
	3,148,308	e	iShares MSCI Japan Index Fund		31,294
	21,000	e	iShares MSCI Pacific ex-Japan Index Fund		851
	300,000		iShares MSCI Taiwan Index Fund		3,690
	3,466	e	Jafco Co Ltd		106
	59		Japan Prime Realty Investment Corp		143
	245		Japan Real Estate Investment Corp		2,003
	35	*,e	Japan Retail Fund Investment Corp		190
	683	*	Kenedix Realty Investment Corp		2,564
	133,450	e	Kimco Realty Corp		1,740
	283,500		KWG Property Holding Ltd		183
	39,642		LG Corp		2,658
	18,631	e	Liberty Property Trust		606
	3,820	e	Macerich Co		116
	235,618	e	Macquarie Infrastructure Group		307
	107	e	Macquarie Office Trust		0	^
	141,342		Marfin Investment Group S.A		608
	1,000,000	*,e	Melco International Development		640
	9,100		Nationale A Portefeuille		495
	253		Nippon Building Fund, Inc		2,258
	339		Nomura Real Estate Office Fund, Inc		2,255
	267,520	e	Nomura Topix Exchange Traded Fund		2,745
	78,000		NWS Holdings Ltd		151
	65,233	e	Plum Creek Timber Co, Inc		1,999
	401		Premier Investment Co		1,666
	197,601	e	Prologis		2,355
	38,679		Public Storage, Inc		2,910
	3,431,000		Regal Real Estate Investment Trust		629
	14,466	e	Regency Centers Corp		536
	1,980	*	Reinet Investments S.C.A		28
	45,969		RioCan Real Estate Investment Trust		773
	1,775	e	SBI Holdings, Inc		351
	93,570	*	Shinhan Financial Group Co Ltd		3,732
	180,723	e	Simon Property Group, Inc		12,548
	2,900	e	SL Green Realty Corp		127
	1,068,068		SPDR Trust Series 1		112,746
	296,956	*,e	Starwood Property Trust, Inc		6,013
	44,023	e	Taubman Centers, Inc		1,588

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	457,111	*,e	Vantage Drilling Co	$	837
	23,753		Ventas, Inc		914
	47,589	e	Virgin Media, Inc		662
	7,160,000	*	Vista Land & Lifescapes, Inc		351
	72,611	e	Vornado Realty Trust		4,677
	30,800	e	WABCO Holdings, Inc		647
	2,569,667	e	Westfield Group		31,511
	608,875		Wharf Holdings Ltd		3,233
			TOTAL HOLDING AND OTHER INVESTMENT OFFICES		466,150
HOTELS AND OTHER LODGING PLACES - 0.41%
	260,734		Accor S.A.		14,515
	4,276,000		Banyan Tree Holdings Ltd		2,626
	225,000		Boyd Gaming Corp		2,459
	238,949	e	Crown Ltd		1,882
	53,093		Intercontinental Hotels Group plc		689
	327,108	*,e	Las Vegas Sands Corp		5,509
	75,089	e	Marriott International, Inc (Class A)		2,072
	15,393,256		Minor International PCL		5,714
	455,120	*,e	Orient-Express Hotels Ltd (Class A)		5,238
	2,288,977	e	Shangri-La Asia Ltd		4,312
	77,448	e	Starwood Hotels & Resorts Worldwide, Inc		2,558
	96,415	e	Thomas Cook Group plc		358
	116,053	e	TUI Travel plc		472
	50,965		United Overseas Land Ltd		124
	1,010,400	*,m	Wynn Macau Ltd		1,314
	25,313	*	Wynn Resorts Ltd		1,794
			TOTAL HOTELS AND OTHER LODGING PLACES		51,636
INDUSTRIAL MACHINERY AND EQUIPMENT - 4.54%
	1,010,000		Acer, Inc		2,576
	219,695	*,e	AGCO Corp		6,070
	73,683	e	Alfa Laval AB		865
	269,384	e	Alstom RGPT		19,659
	30,498		Amada Co Ltd		205
	4,236,624		Applied Materials, Inc		56,771
	19,058		ASM Pacific Technology		135
	380,573		ASML Holding NV		11,194
	143,315	e	Atlas Copco AB (A Shares)		1,846
	84,638	e	Atlas Copco AB (B Shares)		965
	8,453		Black & Decker Corp		391
	863,429		Brambles Ltd		6,155
	660,777	*,e	Brocade Communications Systems, Inc		5,194
	21,700		Brother Industries Ltd		260
	606,197		Canon, Inc		24,514
	22,533	e	Casio Computer Co Ltd		184

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	144,522	e	Caterpillar, Inc	$	7,418
	28,342		Citizen Watch Co Ltd		159
	1,800,000		Compal Electronics, Inc		2,097
	53,309		Cummins, Inc		2,389
	49,505	e	Daikin Industries Ltd		1,781
	81,409		Deere & Co		3,494
	454,776	*	Dell, Inc		6,940
	42,200		Doosan Infracore Co Ltd		611
	76,982	e	Dover Corp		2,984
	20,000	*	Dresser-Rand Group, Inc		621
	51,851	e	Electrolux AB (Series B)		1,186
	746,899	*	EMC Corp		12,727
	384,501		Emerson Electric Co		15,411
	45,335	e	Fanuc Ltd		4,066
	750,000		Firich Enterprises Co Ltd		1,785
	46,963	e	Flowserve Corp		4,628
	39,725	*,e	FMC Technologies, Inc		2,075
	275,245		FUJIFILM Holdings Corp		8,248
	29,000	*,e	Gardner Denver, Inc		1,012
	118,850		GEA Group AG.		2,480
	2,269,642		Hewlett-Packard Co		107,149
	10,522	e	Hitachi Construction Machinery Co Ltd		226
	79,945		Husqvarna AB (B Shares)		555
	67,609	e	Ingersoll-Rand PLC		2,074
	685,884		International Business Machines Corp		82,038
	167,066		International Game Technology		3,589
	1,131,716	*	Ishikawajima-Harima Heavy Industries Co Ltd		2,295
	3,062	e	Itochu Techno-Science Corp		94
	199,909	e	ITT Industries, Inc		10,425
	454,428	e	Japan Steel Works Ltd		5,224
	8,076		John Bean Technologies Corp		147
	163,515	e	Johnson Controls, Inc		4,179
	152,783		Joy Global, Inc		7,477
	346,456		Komatsu Ltd		6,492
	36,083		Kone Oyj (Class B)		1,326
	1,084,342		Konica Minolta Holdings, Inc		10,280
	116,432	e	Kubota Corp		969
	11,997	e	Kurita Water Industries Ltd		430
	21,642	*,e	Lam Research Corp		739
	12,091		Larsen & Toubro Ltd		425
	600	*,e	Lexmark International, Inc (Class A)		13
	1,300,000		Lite-On Technology Corp		1,704
	36,537	*,e	Logitech International S.A.		666
	13,568		Makita Corp		431
	321,506	e	Mitsubishi Heavy Industries Ltd		1,218
	199,124		Northrop Grumman Corp		10,305

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	32,948	*,e	NTN Corp	$	137
	25,375		Pall Corp		819
	200,000	*,e	Palm, Inc		3,486
	44,525	e	Pitney Bowes, Inc		1,106
	223,340		Raytheon Co		10,714
	69,841	*,e	SanDisk Corp		1,516
	530,925	e	Sandvik AB		5,864
	10,443		Schindler Holding AG. (Reg)		716
	4,695		Schindler Holding AG.		331
	283,158	e	Seagate Technology, Inc		4,307
	13,473	e	Seiko Epson Corp		202
	97,038	e	SKF AB (B Shares)		1,524
	34,388	e	SMC Corp		4,229
	17,251	e	Solarworld AG.		419
	33,859		SPX Corp		2,075
	55,821	*	Sumitomo Heavy Industries Ltd		272
	85,978	*	Teradata Corp		2,366
	89,470	*,e	Terex Corp		1,855
	279,900	e	Textron, Inc		5,313
	219,081		Tokyo Electron Ltd		13,985
	2,510,342	e	Toshiba Corp		13,172
	27,262	*	Toyota Tsusho Corp		411
	196,824	e	Tyco International Ltd		6,786
	25,207	*	Varian Medical Systems, Inc		1,062
	79,022	*,e	Vestas Wind Systems AS		5,713
	899		Wacom Co Ltd		2,142
	17,916	e	Wartsila Oyj (B Shares)		718
	165,452	*	Western Digital Corp		6,044
	23,610	e	Yokogawa Electric Corp		209
	37,223		Zardoya Otis S.A.		808
			TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		577,867
INSTRUMENTS AND RELATED PRODUCTS - 1.64%
	16,542	e	Advantest Corp		459
	171,877	*,e	Agilent Technologies, Inc		4,783
	58,571	e	Allergan, Inc		3,324
	28,186		Bard (C.R.), Inc		2,216
	431,646		Baxter International, Inc		24,608
	38,544		Beckman Coulter, Inc		2,657
	108,112	e	Becton Dickinson & Co		7,541
	3,064,841	*	Boston Scientific Corp		32,457
	45,839	*	CareFusion Corp		999
	40,741	e	Cochlear Ltd		2,399
	5,072		Coloplast AS (Class B)		424
	44,717	e	Compagnie Generale d’Optique Essilor International S.A.		2,548

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	121,470		Covidien PLC	$	5,255
	75,380		Danaher Corp		5,075
	29,271	e	Dentsply International, Inc		1,011
	85,866		Finmeccanica S.p.A.		1,518
	23,603	*,e	Flir Systems, Inc		660
	20,396		Fresenius AG (Preference)		1,194
	5,622		Fresenius SE		277
	75,861	e	Garmin Ltd		2,863
	38,217	e	Getinge AB (B Shares)		641
	41,600		Hogy Medical Co Ltd		2,331
	55,129	*,e	Hologic, Inc		901
	20,533	*,e	Illumina, Inc		873
	6,463	*,e	Intuitive Surgical, Inc		1,695
	171,281		Invensys plc		797
	4,224		Keyence Corp		903
	28,327		Kla-Tencor Corp		1,016
	76,870		LG.Philips LCD Co Ltd		2,212
	25,467		Luxottica Group S.p.A.		660
	752,938	e	Medtronic, Inc		27,708
	30,110	*	Millipore Corp		2,118
	292,020	e	Nikon Corp		5,342
	152,175		Nippon Electric Glass Co Ltd		1,388
	25,482		Nobel Biocare Holding AG.		843
	22,612	*,e	Olympus Corp		600
	288,331	e	PerkinElmer, Inc		5,547
	10,448	e	Phonak Holding AG.		1,054
	45,171	*,e	Qiagen NV		958
	302,280	*,e	ResMed, Inc (ADR)		1,384
	21,512	e	Rockwell Automation, Inc		916
	70,343	e	Rockwell Collins, Inc		3,573
	22,545		Roper Industries, Inc		1,149
	42,660	e	Safran S.A.		799
	20,982	e	Shimadzu Corp		152
	188,156		Smith & Nephew plc		1,685
	116,364	*	St. Jude Medical, Inc		4,539
	1,564		Straumann Holding AG.		405
	49,795	e	Stryker Corp		2,262
	44,681		Swatch Group AG.		10,525
	4,720		Swatch Group AG. Reg		215
	13,262		Synthes, Inc		1,598
	29,400	e	Sysmex Corp		1,271
	111,076		Terumo Corp		6,113
	156,431	*	Thermo Electron Corp		6,831
	26,290	*,e	Waters Corp		1,469
	5,018	*	William Demant Holding		373
	187,675		Xerox Corp		1,453

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	49,508	*,e	Zimmer Holdings, Inc	$	2,646
			TOTAL INSTRUMENTS AND RELATED PRODUCTS		209,213
INSURANCE AGENTS, BROKERS AND SERVICE - 0.35%
	141,299		AON Corp		5,749
	22,000		Brown & Brown, Inc		422
	56,153		Hartford Financial Services Group, Inc		1,488
	198,799	e	Marsh & McLennan Cos, Inc		4,916
	383,672		Millea Holdings, Inc		11,113
	924,709		QBE Insurance Group Ltd		19,627
	90,748	e	Unipol Gruppo Finanziario S.p.A.		138
	1,373		White Mountains Insurance Group Ltd		422
	37,724		Willis Group Holdings Ltd		1,065
			TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		44,940
INSURANCE CARRIERS - 4.14%
	499,756		ACE Ltd		26,717
	1,657,315		Admiral Group plc		30,645
	332,375	*	Aegon NV		2,821
	179,631	e	Aetna, Inc		4,999
	1,473,427		Aflac, Inc		62,975
	45,871		Aioi Insurance Co Ltd		234
	82,211	e	Alleanza Assicurazioni S.p.A		742
	141,768		Allianz AG.		17,711
	143,910		Allstate Corp		4,407
	96,000		American Financial Group, Inc		2,448
	13,739	e	American International Group, Inc		606
	1,054,478	e	AMP Ltd		6,065
	77,135	*	Arch Capital Group Ltd		5,210
	245,064		Assicurazioni Generali S.p.A.		6,717
	24,400		Assurant, Inc		782
	573,439		Aviva plc		4,107
	99,233		AXA Asia Pacific Holdings Ltd		383
	360,768		AXA S.A.		9,767
	534,959		Axis Capital Holdings Ltd		16,145
	10,532		Baloise Holding AG.		1,006
	1,307,000		China Life Insurance Co Ltd		5,692
	66,703		Chubb Corp		3,362
	114,756		Cigna Corp		3,223
	27,671		Cincinnati Financial Corp		719
	7,951		CNP Assurances		810
	130,675		Corp Mapfre S.A.		585
	59,280		Everest Re Group Ltd		5,199
	8,514	e	Fairfax Financial Holdings Ltd		3,163
	43,479		Fidelity National Title Group, Inc (Class A)		656

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	16,221		First American Corp	$	525
	10,839	e	Fondiaria-Sai S.p.A		228
	424,427		Friends Provident Group plc		564
	124,808	e	Great-West Lifeco, Inc		3,096
	14,001	*	Hannover Rueckversicherung AG.		642
	77,982	*	Health Net, Inc		1,201
	135,379	*	Humana, Inc		5,050
	33,879		Industrial Alliance Insurance and Financial Services, Inc		927
	35,446		ING Canada, Inc		1,122
	231,249	e	Insurance Australia Group Ltd		771
	33,155	*	KBC Groep NV		1,665
	29,070	*,e	Leucadia National Corp		719
	142,005		Lincoln National Corp		3,679
	62,331		Loews Corp		2,135
	718,683		Manulife Financial Corp		15,103
	49,767	e	Mediolanum S.p.A.		346
	380,913	e	Metlife, Inc		14,501
	44,201		Mitsui Sumitomo Insurance Group Holdings, Inc		1,219
	173,087	e	Muenchener Rueckver AG.		27,616
	69,000	e	Nipponkoa Insurance Co Ltd		432
	16,000	e	Nissay Dowa General Insurance Co Ltd		82
	1,131,565		Old Mutual plc		1,808
	65,965		Old Republic International Corp		803
	202,724		PartnerRe Ltd		15,598
	154,386	e	Power Corp Of Canada		4,222
	110,185	e	Power Financial Corp		3,175
	761,035		Principal Financial Group		20,845
	143,400		Progressive Corp		2,378
	519,171		Prudential Financial, Inc		25,912
	1,797,535		Prudential plc		17,279
	449		Reinsurance Group of America, Inc (Class A)		20
	126,799		RenaissanceRe Holdings Ltd		6,944
	773,915		Royal & Sun Alliance Insurance Group plc		1,655
	98,751		Sampo Oyj (A Shares)		2,487
	35,186		SCOR		962
	976,709		Sompo Japan Insurance, Inc		6,572
	828		Sony Financial Holdings, Inc		2,379
	499,991		Standard Life plc		1,750
	249,352	e	Sun Life Financial, Inc		7,814
	6,613		Swiss Life Holding		782
	152,197		Swiss Reinsurance Co		6,870
	26,798	e	T&D Holdings, Inc		725
	3,648	*,e	Topdanmark AS		551
	22,089		Torchmark Corp		959
	64,362		Transatlantic Holdings, Inc		3,229
	422,264		Travelers Cos, Inc		20,788

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	6,730	e	TrygVesta A.S.	$	515
	594,949		UnitedHealth Group, Inc		14,898
	86,929		UnumProvident Corp		1,864
	59,900	e	Validus Holdings Ltd		1,545
	22,871	e	W.R. Berkley Corp		578
	40,000	*	WellCare Health Plans, Inc		986
	423,674	*	WellPoint, Inc		20,065
	9,015		Wiener Staedtische Allgemeine Versicherung AG.		514
	690,454	e	XL Capital Ltd (Class A)		12,055
	33,901		Zurich Financial Services AG.		8,064
			TOTAL INSURANCE CARRIERS		527,110
LEATHER AND LEATHER PRODUCTS - 0.12%
	43,729		Adidas-Salomon AG.		2,315
	206,162		Coach, Inc		6,786
	60,460		LVMH Moet Hennessy Louis Vuitton S.A.		6,081
	74,589	e	Yue Yuen Industrial Holdings		207
			TOTAL LEATHER AND LEATHER PRODUCTS		15,389
LEGAL SERVICES - 0.01%
	20,923	*,e	FTI Consulting, Inc		892
			TOTAL LEGAL SERVICES		892
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.01%
	46,516		Brisa-Auto Estradas de Portugal S.A.		458
	175,028		ComfortDelgro Corp Ltd		200
	46,262	e	Keihin Electric Express Railway Co Ltd		392
	25,426	e	Keisei Electric Railway Co Ltd		169
			TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		1,219
LUMBER AND WOOD PRODUCTS - 0.01%
	93,769	*	Sino-Forest Corp		1,481
			TOTAL LUMBER AND WOOD PRODUCTS		1,481
METAL MINING - 3.24%
	69,167	e	Agnico-Eagle Mines Ltd		4,678
	237,952	e	Alumina Ltd		384
	1,992,916		Anglo American plc		63,476
	94,732		Antofagasta plc		1,150
	764,674		Barrick Gold Corp		28,981
	499,105		Barrick Gold Corp (Canada)		18,899
	2,063,349		BHP Billiton Ltd		68,678
	884,168		BHP Billiton plc		24,135
	171,560		Cameco Corp		4,761
	86,314	e	Cleveland-Cliffs, Inc		2,793

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	278,570	e	Companhia Vale do Rio Doce (ADR)	$	6,443
	169,812	*,e	Eldorado Gold Corp		1,929
	5,834	e	Energy Resources of Australia Ltd		130
	56,853		Eurasian Natural Resources Corp		796
	35,264	e	First Quantum Minerals Ltd		2,306
	47,769		Franco-Nevada Corp		1,253
	248,328		Freeport-McMoRan Copper & Gold, Inc (Class B)		17,038
	37,258		Fresnillo plc		460
	323,077		Goldcorp, Inc		12,970
	151,515		IAMGOLD Corp		2,141
	22,429		Inmet Mining Corp		1,256
	108,686	*,e	Ivanhoe Mines Ltd		1,397
	42,485		Kazakhmys plc		729
	305,081		Kinross Gold Corp		6,648
	40,301		Lonmin PLC		1,078
	1	*	MMC Norilsk Nickel (ADR)		0	^
	338,963		Newcrest Mining Ltd		9,539
	129,466		Newmont Mining Corp		5,699
	50,313	e	Orica Ltd		1,043
	1,564,763	e	Oxiana Ltd		1,574
	474,947	*,e	Paladin Resources Ltd		1,885
	34,493	*	PAN American Silver Corp		792
	10,286,480	*,e	Pan Australian Resources Ltd		4,447
	3,907,000		PT International Nickel Indonesia Tbk		1,678
	17,721		Randgold Resources Ltd		1,239
	480,028	e	Rio Tinto Ltd		25,087
	1,478,490		Rio Tinto plc		63,053
	125,662		Sherritt International Corp		899
	120,402	*	Silver Wheaton Corp		1,528
	2,069,000	e	Straits Asia Resources Ltd		3,129
	1,900	e	Sumitomo Titanium Corp		54
	213,148		Teck Cominco Ltd		5,873
	32,920		Vedanta Resources plc		1,001
	421,867		Xstrata plc		6,220
	326,909		Yamana Gold, Inc		3,517
			TOTAL METAL MINING		412,766
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.18%
	11,425		Armstrong World Industries, Inc		394
	225,000	e	Bulgari S.p.A.		1,738
	113,510		Compagnie Financiere Richemont S.A.		3,207
	136,349	e	Hasbro, Inc		3,784
	253,293	e	Jarden Corp		7,109
	137,254		Mattel, Inc		2,534
	20,373	e	Namco Bandai Holdings, Inc		209
	59,990	e	Sankyo Co Ltd		3,756

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	8,224		Societe BIC S.A.	$	585
	15,075		Yamaha Corp		178
			TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		23,494
MISCELLANEOUS RETAIL - 1.00%
	113,203	*,e	Amazon.com, Inc		10,569
	1,406,619		CVS Corp		50,273
	40,005	*,e	Dollar Tree, Inc		1,947
	1,974,034		Game Group PLC		5,038
	654,751		Home Retail Group		2,845
	2,345,761		Hutchison Whampoa Ltd		16,935
	100,000	*	Hypermarcas S.A.		1,958
	37,052	e	Metro AG.		2,096
	10,400	*,e	Office Depot, Inc		69
	472,396		Origin Energy Ltd		6,801
	61,797	e	Petsmart, Inc		1,344
	15,565	*,e	Priceline.com, Inc		2,581
	88,748	e	Shoppers Drug Mart Corp		3,642
	442,498	e	Staples, Inc		10,275
	51,300	e	Sugi Pharmacy Co Ltd		1,089
	18,724		Tiffany & Co		721
	243,171		Walgreen Co		9,112
			TOTAL MISCELLANEOUS RETAIL		127,295
MOTION PICTURES - 0.43%
	20,229		Astral Media, Inc		625
	197,416	*,e	Discovery Communications, Inc (Class A)		5,703
	16,348	*	Discovery Communications, Inc (Class C)		426
	67,500	*	DreamWorks Animation SKG, Inc (Class A)		2,401
	2,447,900		Major Cineplex Group PCL		615
	264,398	e	News Corp (ADR)		3,753
	714,019	e	News Corp (Class A)		8,561
	107,600	e	News Corp (Class B)		1,505
	1,075,501		Time Warner, Inc		30,954
	10,675	e	Toho Co Ltd		181
			TOTAL MOTION PICTURES		54,724
NONDEPOSITORY INSTITUTIONS - 1.37%
	4,722	e	Acom Co Ltd		73
	239,203	e	Aeon Credit Service Co Ltd		2,409
	311,121		American Express Co		10,547
	126,175		Bank of Cyprus Public Co Ltd		960
	242,700	e	Capital One Financial Corp		8,672
	7,460	e,m	Cattles plc		1
	2,032,186	e	Challenger Financial Services Group Ltd		6,113
	4,679,378	e	Chimera Investment Corp		17,876

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	16,783	e	Credit Saison Co Ltd	$	197
	183,301		Criteria Caixacorp S.A.		941
	299,895		Discover Financial Services		4,867
	32,700	e	Federal Home Loan Mortgage Corp		59
	205,500	*,e	Federal National Mortgage Association		312
	94,632	e	Investor AB (B Shares)		1,727
	264,900	e	Japan Securities Finance Co Ltd		1,971
	56,000		Jardine Matheson Holdings Ltd		1,702
	450,000	e	Lancashire Holdings Ltd		3,675
	55,246	e	Lender Processing Services, Inc		2,109
	285,669	e	ORIX Corp		17,440
	1,122		Osaka Securities Exchange Co Ltd		5,100
	6,674	e	Promise Co Ltd		36
	27,130		Samsung Card Co		1,216
	894,947		Siemens AG.		82,874
	168,819	*,e	SLM Corp		1,472
	923,700		Tisco Financial Group PCL (ADR)		633
	180,000		Westway Group, Inc		819
			TOTAL NONDEPOSITORY INSTITUTIONS		173,801
NONMETALLIC MINERALS, EXCEPT FUELS - 0.06%
	943,057		Adelaide Brighton Ltd		2,321
	1,121,787		Grupo Mexico S.A. de C.V. (Series B)		2,077
	6,665	e	Imerys S.A.		382
	34,942		K+S AG.		1,907
	18,393		Vulcan Materials Co		995
			TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		7,682
OIL AND GAS EXTRACTION - 4.49%
	323,032		Anadarko Petroleum Corp		20,264
	250,486		Apache Corp		23,002
	48,937	*,e	Arrow Energy NL		185
	264,071		Baker Hughes, Inc		11,265
	3,198,675		BG Group plc		55,568
	62,275	e	BJ Services Co		1,210
	38,021	e	Boart Longyear Group		11
	166,195		Cabot Oil & Gas Corp		5,941
	30,167	*	Cairn Energy plc		1,344
	105,372	*	Cameron International Corp		3,985
	277,186		Canadian Natural Resources Ltd (Canada)		18,718
	102,177		Canadian Oil Sands Trust		2,935
	161,985		Chesapeake Energy Corp		4,600
	1,566,000		China Oilfield Services Ltd		1,461
	14,339	e	Cimarex Energy Co		621
	2,004,000		CNOOC Ltd		2,694
	28,344	*,e	Compagnie Generale de Geophysique S.A.		661

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1	*	Compagnie Generale de Geophysique-Veritas (ADR)	$	0	^
	113,983	*	Concho Resources, Inc		4,140
	239,246	e	Crescent Point Energy Corp		8,089
	283,971	*	Denbury Resources, Inc		4,296
	116,247		Devon Energy Corp		7,827
	79,348	e	Diamond Offshore Drilling, Inc		7,579
	416,691		EnCana Corp		24,130
	73,221		Enerplus Resources Fund		1,676
	67,671		ENSCO International, Inc		2,879
	58,422		Ensign Energy Services, Inc		886
	215,601		EOG Resources, Inc		18,005
	26,867		Equitable Resources, Inc		1,145
	3,000	*,e	Exterran Holdings, Inc		71
	631,859		Halliburton Co		17,136
	33,967	e	Helmerich & Payne, Inc		1,343
	113,011	e	Husky Energy, Inc		3,181
	2,173	e	Idemitsu Kosan Co Ltd		179
	82		Inpex Holdings, Inc		700
	2,700		Japan Petroleum Exploration Co		138
	96,000	*,e	Key Energy Services, Inc		835
	49,113	*,e	Lundin Petroleum AB		398
	155,320	*,e	Nabors Industries Ltd		3,246
	204,780	*	National Oilwell Varco, Inc		8,832
	22,290	*	Newfield Exploration Co		949
	313,623		Nexen, Inc		7,130
	19,919		Niko Resources Ltd		1,558
	82,119		Noble Corp		3,117
	120,901		Noble Energy, Inc		7,975
	905,170		Occidental Petroleum Corp		70,966
	26,406	*	Oil India Ltd		626
	82,479	e	Patterson-UTI Energy, Inc		1,245
	177,466		Penn West Energy Trust		2,815
	59,695	*	PetroHawk Energy Corp		1,445
	41,600		Petroleo Brasileiro S.A.		959
	599,206		Petroleo Brasileiro S.A. (ADR)		27,504
	19,823	e	Pioneer Natural Resources Co		719
	21,537	*	Plains Exploration & Production Co		596
	627,010	*,e	Pride International, Inc		19,086
	65,559		ProEx Energy Ltd		846
	109,029		Provident Energy Trust		631
	230,611	e	Range Resources Corp		11,383
	23,953		Rowan Cos, Inc		553
	535,428	e	Santos Ltd		7,180
	38,478		SBM Offshore NV		818
	625,930		Schlumberger Ltd		37,305
	60,246	*,e	SeaDrill Ltd		1,258

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	28,181	*,e	Seahawk Drilling, Inc	$	876
	121,877	e	Smith International, Inc		3,498
	97,793	*	Southwestern Energy Co		4,174
	452,667		Talisman Energy, Inc		7,877
	22,260	e	Technip S.A.		1,422
	40,567	e	Tidewater, Inc		1,910
	107,830	*	Transocean Ltd		9,223
	54,174	e	Trican Well Service Ltd		703
	1,865,824		Tullow Oil plc		33,635
	31,949	*,e	Ultra Petroleum Corp		1,564
	13,851		Vermilion Energy Trust		383
	151,056	*	Weatherford International Ltd		3,131
	112,669		Woodside Petroleum Ltd		5,182
	480,003		XTO Energy, Inc		19,834
			TOTAL OIL AND GAS EXTRACTION		571,252
PAPER AND ALLIED PRODUCTS - 0.28%
	14	*,e	Domtar Corporation		0	^
	12,968		Exor S.p.A		240
	29,772		Greif, Inc (Class A)		1,639
	10,837		Holmen AB (B Shares)		298
	243,242		International Paper Co		5,407
	260,445		Kimberly-Clark Corp		15,362
	45,100	e	MeadWestvaco Corp		1,006
	25,951		Metso Oyj		730
	9,000	e	Nippon Paper Group, Inc		260
	88,563	e	OJI Paper Co Ltd		400
	36,000		Sonoco Products Co		991
	142,213		Stora Enso Oyj (R Shares)		991
	121,571	e	Svenska Cellulosa AB (B Shares)		1,648
	49,841	e	Uni-Charm Corp		4,731
	130,833		UPM-Kymmene Oyj		1,570
			TOTAL PAPER AND ALLIED PRODUCTS		35,273
PERSONAL SERVICES - 0.05%
	2,212,000		Chaoda Modern Agriculture		1,336
	27,887	e	Cintas Corp		845
	128,598		H&R Block, Inc		2,364
	545,838		Kuala Lumpur Kepong BHD		2,176
			TOTAL PERSONAL SERVICES		6,721
PETROLEUM AND COAL PRODUCTS - 4.55%
	10,689,979		BP plc		94,476
	160,972	e	BP plc (ADR)		8,569
	13,134		Caltex Australia Ltd		140
	1,111,512		Chevron Corp		78,284

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	459,944		ConocoPhillips	$	20,771
	53,343		Cosmo Oil Co Ltd		149
	846,802	e	ENI S.p.A.		21,165
	1,992,346		Exxon Mobil Corp		136,696
	40,539	e	Galp Energia SGPS S.A.		701
	22,100		Hellenic Petroleum S.A.		251
	146,693		Hess Corp		7,842
	129,009	e	Imperial Oil Ltd		4,910
	379,739		Marathon Oil Corp		12,114
	108,826		Murphy Oil Corp		6,265
	26,661		Neste Oil Oyj		492
	87,820		Nippon Mining Holdings, Inc		432
	33,041		OMV AG.		1,333
	160,544		Repsol YPF S.A.		4,367
	949,180	e	Royal Dutch Shell plc (A Shares)		27,055
	1,200,159		Royal Dutch Shell plc (B Shares)		33,297
	63,201	e	Saras S.p.A.		244
	17,766		Showa Shell Sekiyu KK		194
	411,725		Statoil ASA		9,259
	691,645		Suncor Energy, Inc		24,161
	230,737		Suncor Energy, Inc (Canada)		7,974
	18,448		Sunoco, Inc		525
	81,000	e	Tesoro Corp		1,213
	25,626	e	TonenGeneral Sekiyu KK		250
	1,187,466	e	Total S.A.		70,558
	128,387		Valero Energy Corp		2,489
	48,000	e	Walter Industries, Inc		2,883
			TOTAL PETROLEUM AND COAL PRODUCTS		579,059
PIPELINES, EXCEPT NATURAL GAS - 0.11%
	11,118	*	Kinder Morgan Management LLC		526
	248,594	e	Spectra Energy Corp		4,708
	297,633	e	TransCanada Corp		9,277
			TOTAL PIPELINES, EXCEPT NATURAL GAS		14,511
PRIMARY METAL INDUSTRIES - 0.95%
	30,114	e	Acerinox S.A.		647
	5,600		AK Steel Holding Corp		110
	171,789	e	Alcoa, Inc		2,254
	19,104	e	Allegheny Technologies, Inc		668
	182,040	*,e	ArcelorMittal		6,806
	1,393,800	e	BlueScope Steel Ltd		3,603
	521,398		Corning, Inc		7,983
	31,698	e	Daido Steel Co Ltd		115
	114,318		DOWA HOLDINGS CO Ltd		693
	1,278,458	e	Furukawa Electric Co Ltd		5,198

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	65,619		Gerdau Ameristeel Corp	$	523
	111,404		JFE Holdings, Inc		3,822
	47,179		Johnson Matthey plc		1,047
	248,723		Kobe Steel Ltd		435
	3,698,000	e	Maanshan Iron & Steel		2,233
	3,996	e	Maruichi Steel Tube Ltd		80
	113,186		Mitsubishi Materials Corp		313
	43,239	e	Mitsui Mining & Smelting Co Ltd		111
	1,634,884		Nippon Steel Corp		5,974
	157,836	e	Norsk Hydro ASA		1,050
	68,541	e	Nucor Corp		3,222
	132,001		OneSteel Ltd		353
	25,914		Outokumpu Oyj		488
	6,000		POSCO		2,480
	147,037	e	Precision Castparts Corp		14,980
	754,054		Straits Resources Ltd		1,094
	383,456	*	Sumitomo Electric Industries Ltd		5,015
	2,586,314	e	Sumitomo Metal Industries Ltd		6,367
	56,449		Sumitomo Metal Mining Co Ltd		927
	281,780		Tenaris S.A.		5,022
	62,140	e	Tokyo Steel Manufacturing Co Ltd		761
	23,479		Umicore		703
	47,854	e	United States Steel Corp		2,123
	109,687		Usinas Siderurgicas de Minas Gerais S.A. (Preference)		2,892
	174,929	e	Vallourec		29,644
	29,856		Voestalpine AG.		1,066
	4,200		Yamato Kogyo Co Ltd		118
			TOTAL PRIMARY METAL INDUSTRIES		120,920
PRINTING AND PUBLISHING - 0.42%
	2,350,000		AMVIG Holdings Ltd		973
	58,138		Dai Nippon Printing Co Ltd		801
	44,191		Dun & Bradstreet Corp		3,328
	206,109	e	John Fairfax Holdings Ltd		312
	25,204		Lagardere S.C.A.		1,174
	127,508		McGraw-Hill Cos, Inc		3,206
	176,488	e	Orkla ASA		1,664
	24,432	e	PagesJaunes Groupe S.A.		317
	2,199,938		Pearson plc		27,107
	62,709		R.R. Donnelley & Sons Co		1,333
	183,143		Reed Elsevier NV		2,066
	284,152		Reed Elsevier plc		2,127
	16,226	e	Sanoma-WSOY Oyj		358
	156,344	e	Singapore Press Holdings Ltd		428
	164,838	e	Thomson Corp		5,527
	56,540	e	Toppan Printing Co Ltd		535

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	927	e	Washington Post Co (Class B)	$	434
	59,275		Wolters Kluwer NV		1,266
	105,808		Yellow Pages Income Fund		534
			TOTAL PRINTING AND PUBLISHING		53,490
RAILROAD TRANSPORTATION - 0.53%
	1,373,412	*,e	Asciano Group		2,005
	102,995		Burlington Northern Santa Fe Corp		8,222
	212,038		Canadian National Railway Co		10,443
	74,830	e	Canadian Pacific Railway Ltd		3,502
	165		Central Japan Railway Co		1,186
	249,703		CSX Corp		10,453
	78,378		East Japan Railway Co		5,641
	357,174		Firstgroup PLC		2,361
	123,400		Hankyu Hanshin Holdings, Inc		591
	50,986	*,e	Kansas City Southern Industries, Inc		1,351
	166,247	e	MTR Corp		577
	119,149		Norfolk Southern Corp		5,137
	271,363		Union Pacific Corp		15,833
	197	e	West Japan Railway Co		746
			TOTAL RAILROAD TRANSPORTATION		68,048
REAL ESTATE - 0.93%
	1,500,000		Agile Property Holdings Ltd		1,765
	10,650,901		Ayala Land, Inc		2,585
	10,195,901	m	Ayala Land, Inc (Preference)		22
	1,281,791		British Land Co plc		9,734
	99,734		Brookfield Properties Corp		1,131
	2,657,994	e	CapitaLand Ltd		7,019
	376,516		CapitaMall Trust		494
	10,200	*,e	CB Richard Ellis Group, Inc (Class A)		120
	433,696		Cheung Kong Holdings Ltd		5,504
	428,000		China Aoyuan Property Group Ltd		73
	998,000	e	China Resources Land Ltd		2,187
	88,304		Chinese Estates Holdings Ltd		149
	47,495	e	City Developments Ltd		348
	10,958		Corio NV		756
	20,265,600		Erawan Group PCL		1,492
	3,000	e	Forest City Enterprises, Inc (Class A)		40
	3,816	e	Gecina S.A.		455
	353,000	*,e	Genting International plc		281
	4,789,000	*	Glorious Property Holdings Ltd		2,719
	145,480		Hammerson plc		917
	80,000		Hang Lung Group Ltd		401
	1,222,793		Hang Lung Properties Ltd		4,505
	252,273		Henderson Land Development Co Ltd		1,660

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	51,717		Hopewell Holdings	$	162
	58,452		Hysan Development Co Ltd		146
	5,217		ICADE		559
	4,520,500		IGB Corp BHD		2,338
	149,000	e	Keppel Land Ltd		290
	2,546,700		KLCC Property Holdings BHD		2,443
	18,089	e	Klepierre		717
	10,643,200		Land and Houses PCL		2,134
	151,446		Land Securities Group plc		1,513
	14,267	e	Leighton Holdings Ltd		455
	83,428	e	Liberty International plc		640
	289,836		Link Real Estate Investment Trust		638
	16,728,500	*	Lippo Karawaci Tbk PT		1,160
	420,632		Macquarie Goodman Group		247
	45,524,500	*	Metro Pacific Investments Corp		3,171
	247,974		Mirvac Group		368
	872,404		Mitsubishi Estate Co Ltd		13,722
	472,863		Mitsui Fudosan Co Ltd		8,002
	272,000	*	Mongolia Energy Co ltd		97
	75,000		Multiplan Empreendimentos Imobiliarios S.A.		1,175
	2,232,589		New World Development Ltd		4,805
	9,374		Nomura Real Estate Holdings, Inc		152
	900	e	NTT Urban Development Corp		826
	4,832,000	e	Renhe Commercial Holdings Co Ltd		973
	3,783,749		Rich Development Co Ltd		1,765
	2,477	e	Risa Partners, Inc		1,600
	138,969		Segro plc		816
	154,507		Sino Land Co		277
	8,432,000		SM Prime Holdings		1,869
	1,681,300		SP Setia BHD		1,958
	243,224		Stockland Trust Group		875
	58,256	e	Sumitomo Realty & Development Co Ltd		1,066
	748,448		Sun Hung Kai Properties Ltd		11,029
	27,572	e	Tokyo Tatemono Co Ltd		135
	42,862	e	Tokyu Land Corp		171
	19,740	e	Unibail		4,100
	3,450,782	*	Unitech Corporate Parks plc		1,186
	83,000		Wheelock & Co Ltd		272
	12,705		YNH Property BHD		7
			TOTAL REAL ESTATE		118,216
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.49%
	695,015		Asics Corp		6,465
	428,332		Bayer AG.		29,679
	65,161	e	Bridgestone Corp		1,169
	1,700	e	Cooper Tire & Rubber Co		30

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	57,676	e	Denki Kagaku Kogyo KK	$	238
	256,940	*	Goodyear Tire & Rubber Co		4,376
	38,001		Michelin (C.G.D.E.) (Class B)		2,981
	56,495	e	Mitsubishi Rayon Co Ltd		194
	855,282	e	Mitsui Chemicals, Inc		3,049
	118,704		Newell Rubbermaid, Inc		1,862
	11,751	*	NOK Corp		175
	26,419	e	Nokian Renkaat Oyj		616
	1,004,614		Pirelli & C S.p.A.		538
	9,588		Puma AG. Rudolf Dassler Sport		3,184
	22,581		Sealed Air Corp		443
	751,359		SSL International plc		7,685
	17,863		Sumitomo Rubber Industries, Inc		169
			TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		62,853
SECURITY AND COMMODITY BROKERS - 2.37%
	71,085		Ameriprise Financial, Inc		2,583
	110,191	*	Artio Global Investors, Inc		2,881
	108,324		Australian Stock Exchange Ltd		3,364
	20,358	e	BlackRock, Inc		4,414
	38,000		Broadridge Financial Solutions, Inc		764
	361,143		Charles Schwab Corp		6,916
	30,794	e	CME Group, Inc		9,490
	1,029,832		Credit Suisse Group		57,140
	859,355		Daiwa Securities Group, Inc		4,432
	45,625		Deutsche Boerse AG.		3,729
	18,117,700	*,e	E*Trade Financial Corp		31,706
	15,712	e	Eaton Vance Corp		440
	7,691	e	F&C Asset Management plc		10
	72,716	e	Franklin Resources, Inc		7,315
	380,873		Goldman Sachs Group, Inc		70,213
	674,098		Hong Kong Exchanges and Clearing Ltd		12,221
	108,762		ICAP plc		735
	52,219	e	IGM Financial, Inc		2,071
	39,233	*	IntercontinentalExchange, Inc		3,813
	271,921		Invesco Ltd		6,189
	1,669,600		iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		2,895
	14,767	*,e	Jefferies Group, Inc		402
	4,316,879		Legal & General Group plc		6,057
	242,725	e	Legg Mason, Inc		7,532
	31,722	e	London Stock Exchange Group plc		434
	39,382	e	Macquarie Group Ltd		2,043
	407,372		Man Group plc		2,156
	11,900	e	Matsui Securities Co Ltd		97
	681,314		Morgan Stanley		21,039

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	21,736	*	Nasdaq Stock Market, Inc	$	458
	2,187,399	e	Nomura Holdings, Inc		13,476
	41,149		NYSE Euronext		1,189
	3,672	e	Perpetual Trustees Australia Ltd		127
	28,845		Schroders plc		504
	22,953		SEI Investments Co		452
	357,751	e	Shinko Securities Co Ltd		1,303
	1,037,111		Singapore Exchange Ltd		6,199
	40,725	e	T Rowe Price Group, Inc		1,861
	90,201	*	TD Ameritrade Holding Corp		1,770
	34,894	e	TMX Group, Inc		1,170
			TOTAL SECURITY AND COMMODITY BROKERS		301,590
SPECIAL TRADE CONTRACTORS - 0.01%
	13,131		Kinden Corp		110
	29,542	*,e	Quanta Services, Inc		654
			TOTAL SPECIAL TRADE CONTRACTORS		764
STONE, CLAY, AND GLASS PRODUCTS - 0.70%
	183,036		3M Co		13,508
	1,017,698		Asahi Glass Co Ltd		8,220
	50,985		Boral Ltd		274
	52,188		Cimpor Cimentos de Portugal S.A.		431
	1,089,486		CRH plc		30,139
	7,402		CRH plc (IRELAND)		206
	319,220	e	Holcim Ltd		21,901
	16,728	e	Italcementi S.p.A.		258
	52,699	*	James Hardie Industries NV		365
	47,106	e	Lafarge S.A.		4,215
	6,372	e	Martin Marietta Materials, Inc		587
	26,673	e	NGK Insulators Ltd		618
	61,041	e	Nippon Sheet Glass Co Ltd		204
	137,382	*	Owens-Illinois, Inc		5,069
	5,236		Pargesa Holding S.A.		452
	2,003,000		PT Indocement Tunggal Prakarsa Tbk		2,197
	101,376	e	Taiheiyo Cement Corp		136
	11,585		Titan Cement Co S.A.		400
	24,681	e	Toto Ltd		155
			TOTAL STONE, CLAY, AND GLASS PRODUCTS		89,335
TEXTILE MILL PRODUCTS - 0.04%
	39,140		Cheil Industries, Inc		1,697
	2,137,246		Far Eastern Textile Co Ltd		2,507
	11,072	*,e	Mohawk Industries, Inc		528
	12,054	e	Nisshinbo Industries, Inc		128
	96,807	e	Teijin Ltd		302
			TOTAL TEXTILE MILL PRODUCTS		5,162

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
TOBACCO PRODUCTS - 1.11%
	994,221		Altria Group, Inc	$	17,707
	1,225,340		British American Tobacco plc		38,441
	44,970		Fortune Brands, Inc		1,933
	2,902,728		Huabao International Holdings Ltd		3,112
	249,075		Imperial Tobacco Group plc		7,197
	1,605		Japan Tobacco, Inc		5,507
	158,733		Lorillard, Inc		11,794
	1,118,721		Philip Morris International, Inc		54,526
	53,962		Swedish Match AB		1,084
			TOTAL TOBACCO PRODUCTS		141,301
TRANSPORTATION BY AIR - 0.32%
	7,694	e	Aeroports de Paris		692
	3,900,000		Air China Ltd		2,249
	25,794	e	Air France-KLM		469
	2,183,000	*	AirAsia BHD		883
	97,862	*	All Nippon Airways Co Ltd		281
	95,121		Auckland International Airport Ltd		128
	2,418,115	e	British Airways plc		8,522
	276,237		Cathay Pacific Airways Ltd		436
	288,712	*,e	Continental Airlines, Inc (Class B)		4,746
	206,328	*	Delta Air Lines, Inc		1,849
	194,103		FedEx Corp		14,601
	7,566	e	Fraport AG. Frankfurt Airport Services Worldwide		402
	6,400		Hong Kong Aircraft Engineerg		76
	120,786		Iberia Lineas Aereas de Espana		376
	83,000	*,e	Japan Airlines Corp		122
	72,100	*	Korean Air Lines Co Ltd		2,937
	66,883		Macquarie Airports		168
	96,015		Qantas Airways Ltd		242
	71,455	*	Ryanair Holdings plc		357
	2,141	*	Ryanair Holdings plc (ADR)		62
	51,774		Singapore Airlines Ltd		506
	37,795		Singapore Airport Terminal Services Ltd		61
	57,880	e	Southwest Airlines Co		556
	71,800	*,e	Virgin Blue Holdings Ltd		27
			TOTAL TRANSPORTATION BY AIR		40,748
TRANSPORTATION EQUIPMENT - 3.45%
	20,542	*	Aisin Seiki Co Ltd		501
	1,289,910		Austal Ltd		2,959
	105,000	e	Autoliv, Inc		3,528
	813,934		BAE Systems plc		4,542

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	445,928	e	Bayerische Motoren Werke AG.	$	21,501
	11,650		Bayerische Motoren Werke AG. (Preference)		388
	404,716		Boeing Co		21,915
	622,555	e	Bombardier, Inc		2,890
	254,687		Cobham plc		891
	84,584	e	Cosco Corp Singapore Ltd		72
	27,000	e	Daihatsu Motor Co Ltd		276
	2,175,064		DaimlerChrysler AG. (EUR)		109,507
	355,235	*	Denso Corp		10,448
	2,610,000		Denway Motors Ltd		1,162
	95,007	e	European Aeronautic Defence and Space Co		2,133
	472,640	e	Fiat S.p.A.		6,079
	1,261,772	*,e	Ford Motor Co		9,097
	75,932	e	Fuji Heavy Industries Ltd		295
	206,416		General Dynamics Corp		13,334
	52,894		Genuine Parts Co		2,013
	130,712		Goodrich Corp		7,103
	163,588	e	Harley-Davidson, Inc		3,763
	14,853		Harsco Corp		526
	26,182	*	Hino Motors Ltd		99
	1,220,568	*,e	Honda Motor Co Ltd		37,597
	449,580		Honeywell International, Inc		16,702
	4,105		Hyundai Mobis		577
	1,597,269	*	Isuzu Motors Ltd		3,381
	13,945		Jardine Cycle & Carriage Ltd		241
	294,795	e	JTEKT Corp		3,435
	164,044	e	Kawasaki Heavy Industries Ltd		417
	898,472		Keppel Corp Ltd		5,166
	192,792		Lockheed Martin Corp		15,053
	91,525	*	Magna International, Inc (Class A)		3,901
	45,725	e	MAN AG.		3,774
	107,150	*,e	Mazda Motor Corp		240
	398,130	*,e	Mitsubishi Motors Corp		656
	72,875	e	Mitsui Engineering & Shipbuilding Co Ltd		189
	103,800		Modec, Inc		2,123
	5,000	*,e	Navistar International Corp		187
	16,138		NHK Spring Co Ltd		133
	471,206	e	NSK Ltd		2,924
	77,185	e	Paccar, Inc		2,911
	43,664		Peugeot S.A.		1,331
	167,515		Porsche AG.		13,176
	90,606		Renault S.A.		4,225
	419,603		Rolls-Royce Group plc		3,157
	72,301		Scania AB (B Shares)		897
	81,372		SembCorp Marine Ltd		184
	8,461	e	Shimano, Inc		366

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	136,074	e	Singapore Technologies Engineering Ltd	$	266
	50,000	*,e	Spirit Aerosystems Holdings, Inc (Class A)		903
	306,318	e	Suzuki Motor Corp		7,149
	30,408		Thales S.A.		1,508
	167,766	e	Tomkins PLC		506
	6,696	e	Toyoda Gosei Co Ltd		196
	21,194	*,e	Toyota Industries Corp		582
	1,431,248		Toyota Motor Corp		56,921
	287,673		United Technologies Corp		17,528
	17,187		Volkswagen AG. (Preference)		2,002
	88,642		Volvo AB (A Shares)		795
	228,031	e	Volvo AB (B Shares)		2,110
	23,289	e	Yamaha Motor Co Ltd		287
			TOTAL TRANSPORTATION EQUIPMENT		438,718
TRANSPORTATION SERVICES - 0.08%
	58,145		Autostrade S.p.A.		1,410
	26,279	e	CH Robinson Worldwide, Inc		1,518
	48,454		Cintra Concesiones de Infraestructuras de Transporte S.A.		564
	47,896		Deutsche Lufthansa AG.		849
	54,709		Expeditors International Washington, Inc		1,923
	65,920	e	Toll Holdings Ltd		496
	42,332	e	TUI AG.		437
	225,000	e	UTI Worldwide, Inc		3,257
			TOTAL TRANSPORTATION SERVICES		10,454
TRUCKING AND WAREHOUSING - 0.61%
	1,549,174		Deutsche Post AG.		29,017
	108,633	e	DSV AS		1,937
	16,832		J.B. Hunt Transport Services, Inc		541
	67,427		Kerry Properties Ltd		361
	11,262	e	Mitsubishi Logistics Corp		136
	6,745	e	Neopost S.A.		605
	87,252		Nippon Express Co Ltd		355
	1,148,697		TNT NV		30,829
	227,466		United Parcel Service, Inc (Class B)		12,845
	41,078		Yamato Transport Co Ltd		675
			TOTAL TRUCKING AND WAREHOUSING		77,301
WATER TRANSPORTATION - 0.29%
	114		AP Moller - Maersk AS (Class A)		762
	229		AP Moller - Maersk AS (Class B)		1,576
	97,102		Carnival Corp		3,232
	32,883		Carnival plc		1,120
	99,000	e	Danaos Corp		500
	4,161,139		DP World Ltd		2,330

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,781,000	*	Ezra Holdings Ltd	$	2,377
	206,298		Hamburger Hafen und Logistik AG.		9,294
	5,568,400		International Container Term Services, Inc		2,586
	23,126		Kamigumi Co Ltd		189
	454,186	e	Kawasaki Kisen Kaisha Ltd		1,685
	12,444		Kuehne & Nagel International AG.		1,081
	1,101,006	e	Mitsui OSK Lines Ltd		6,525
	85,465	e	Neptune Orient Lines Ltd		108
	115,636	e	Nippon Yusen Kabushiki Kaisha		447
	90,000	e	Omega Navigation Enterprises, Inc (Class A)		294
	21,364		Orient Overseas International Ltd		109
	49,731	*,e	Royal Caribbean Cruises Ltd		1,198
	2,272,000	e	Shun TAK Holdings Ltd		1,724
			TOTAL WATER TRANSPORTATION		37,137
WHOLESALE TRADE-DURABLE GOODS - 0.96%
	102,224	*	Arrow Electronics, Inc		2,878
	70,267	e	Assa Abloy AB (Class B)		1,142
	281,887		Banpu PCL		3,611
	17,929	e	BorgWarner, Inc		543
	72,628		Bunzl plc		736
	7,364		Canon Marketing Japan, Inc		130
	786,000		China National Building Material Co Ltd		1,850
	4,484,000	*	China Resources Cement Holdings Ltd		2,256
	232,146	e	Compagnie de Saint-Gobain		12,043
	35,000	*	Emdeon, Inc		567
	74,300		Finning International, Inc		1,110
	121,227	*,e	Fortescue Metals Group Ltd		409
	606,028		Itochu Corp		4,017
	286,881		Li & Fung Ltd		1,157
	2,611,000	*	Metallurgical Corp of China Ltd		1,772
	1,110,036		Mitsubishi Corp		22,457
	854,909		Mitsui & Co Ltd		11,181
	1,756,523		Nissan Motor Co Ltd		11,878
	58,321		Nisshin Steel Co Ltd		104
	20,310	*,e	Patterson Cos, Inc		553
	23,115		Prysmian S.p.A.		434
	1,641,063		PT Astra International Tbk		5,663
	900,000		Rajesh Exports Ltd		1,373
	20,597	e	Rautaruukki Oyj		494
	26,800	e	Reliance Steel & Aluminum Co		1,141
	26,450		Samsung Corp		1,221
	52,278		Schneider Electric S.A.		5,298
	14,414	e	Sims Group Ltd		290
	129,947	e	Sumitomo Corp		1,339
	12,169		THK Co Ltd		238

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	92,885	e	ThyssenKrupp AG.	$	3,198
	9,887		W.W. Grainger, Inc		884
	803,561		Wesfarmers Ltd		18,779
	14,856		Wesfarmers Ltd PPS		348
	65,585	*	Wolseley plc		1,580
			TOTAL WHOLESALE TRADE-DURABLE GOODS		122,674
WHOLESALE TRADE-NONDURABLE GOODS - 1.00%
	3,000	e	ABC-Mart, Inc		93
	29,136		Airgas, Inc		1,409
	52,315		Akzo Nobel NV		3,241
	3,457	e	Alfresa Holdings Corp		141
	25,000,000	*	Alliance Global Group, Inc		2,533
	180,952	e	Billabong International Ltd		1,916
	11,358		Brown-Forman Corp (Class B)		548
	91,678		Cardinal Health, Inc		2,457
	10,403	e	Casino Guichard Perrachon S.A.		825
	17,972	e	Celesio AG.		495
	360,000		Dairy Crest Group plc		2,206
	5,048,000		Dalian Port PDA Co Ltd		2,078
	267,884	*	Dean Foods Co		4,766
	59,886	*,e	Endo Pharmaceuticals Holdings, Inc		1,355
	828,015		Esprit Holdings Ltd		5,556
	2,376,038	e	Foster’s Group Ltd		11,634
	48,952	*,e	Gildan Activewear, Inc		967
	79,240		Hanwha Corp		2,895
	19,082	*,e	Henry Schein, Inc		1,048
	196,622	e	Herbalife Ltd		6,437
	15,795	e	Kikkoman Corp		197
	1,168,235		Marubeni Corp		5,896
	69,562	e	Metcash Ltd		276
	97,718		Metro, Inc		3,194
	124,417		Nippon Oil Corp		699
	5,403,050	e	Noble Group Ltd		9,397
	6,279,000	*	Peak Sport Products Co Ltd		2,876
	75,100	e	San-A Co Ltd		3,029
	1,622,533	*,e	Sojitz Holdings Corp		3,091
	6,571	e	Suzuken Co Ltd		227
	243,102		Sysco Corp		6,041
	127,232	e	Terra Industries, Inc		4,411
	996,294	e	Unilever NV		28,713
	215,000		Unilever NV ADR		6,205
	99,895	*,e	Viterra, Inc		996
			TOTAL WHOLESALE TRADE-NONDURABLE GOODS		127,848
			TOTAL COMMON STOCKS		12,638,341
			(Cost $12,346,558)

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES COMPANY MATURITY
DATE VALUE
(000)

RIGHTS / WARRANTS - 0.01%
BUSINESS SERVICES - 0.00% **
	70,600	e	Genting Singapore plc	$	16
			TOTAL BUSINESS SERVICES		16
DEPOSITORY INSTITUTIONS - 0.01%
	460,367	e	BNP Paribas		997
	457,527	m	Fortis		0	^
	105,153		Mediobanca S.p.A		7
	73,235		Swedbank AB		144
	135,487		Unione di Banche Italiane SCPA		16
			TOTAL DEPOSITORY INSTITUTIONS		1,164
FOOD AND KINDRED PRODUCTS - 0.00% **
	34,086		Golden Agri-Resources Ltd		3
			TOTAL FOOD AND KINDRED PRODUCTS		3
HOLDING AND OTHER INVESTMENT OFFICES - 0.00% **
	681,005	m	GPT Group		0	^
	22,780		IJM Land BHD		7
			TOTAL HOLDING AND OTHER INVESTMENT OFFICES		7
NONDEPOSITORY INSTITUTIONS - 0.00% **
	288,903		Heckmann Corp		162
			TOTAL NONDEPOSITORY INSTITUTIONS		162
PRIMARY METAL INDUSTRIES - 0.00% **
	10,913		DOWA HOLDINGS CO LTD		0	^
			TOTAL PRIMARY METAL INDUSTRIES		0	^
REAL ESTATE - 0.00% **
	556,400		SP Setia BHD		101
			TOTAL REAL ESTATE		101
			TOTAL RIGHTS / WARRANTS		1,453
			(Cost $947)

PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 5.42%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.17%
	$     1,350,000	Federal Home Loan Bank (FHLB)	10/9/09	1,350
	20,000,000	FHLB	10/1/09	20,000
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		21,350
		(Cost $21,350)

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

	PRINCIPAL	ISSUER		VALUE (000)
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.25%
REPURCHASE AGREEMENTS - 1.23%
	$     105,000,000	BNP Paribas, Inc	$	105,000
	50,782,000	Morgan Stanley		50,782
		TOTAL REPURCHASE AGREEMENTS		155,782
VARIABLE RATE SECURITY - 4.02%
	15,000,000	American Express Credit Account Master Trust		14,967
	11,000,000	American Express Credit Account Master Trust		10,829
	14,000,000	American Express Credit Account Master Trust		13,894
	15,000,000	BA Credit Card Trust		14,908
	11,000,000	BA Credit Card Trust		10,896
	30,000,000	Bank of America Corp		29,986
	5,000,000	Bank One Issuance Trust		4,961
	1,918,297	Brunel Residential Mortgage Securization PLC		1,905
	5,000,000	Capital One Multi-Asset Execution Trust		5,004
	8,000,000	Capital One Multi-Asset Execution Trust		7,920
	30,000,000	Capital One Multi-Asset Execution Trust		29,877
	5,000,000	Chase Issuance Trust		4,975
	3,875,000	Chase Issuance Trust		3,853
	9,000,000	Chase Issuance Trust		8,846
	20,000,000	Citibank Credit Card Issuance Trust		19,776
	20,000,000	Citigroup Funding, Inc		20,016
	10,000,000	Discover Card Execution Note Trust		10,001
	7,000,000	Discover Card Execution Note Trust		7,015
	3,000,000	Discover Card Master Trust		2,994
	2,000,000	Discover Card Master Trust		1,994
	3,000,000	Discover Card Master Trust		2,995
	18,000,000	Discover Card Master Trust		17,870
	12,000,000	Discover Card Master Trust 1		11,941
	8,000,000	GE Equipment Midticket LLC		7,824
	3,000,000	General Electric Cap Corp		2,914
	4,000,000	General Electric Cap Corp		3,964
	6,000,000	General Electric Cap Corp		6,000
	20,000,000	General Electric Cap Corp		19,630
	10,000,000	General Electric Cap Corp		10,002
	5,106,232	Granite Master Issuer Plc 2006		4,316
	4,376,770	Granite Master Issuer Plc 2007		3,708
	22,000,000	JP Morgan Chase & Co		22,049
	20,000,000	JP Morgan Chase & Co		20,015
	2,356,945	Medallion Trust		2,204
	13,000,000	Nelnet Student Loan Trust		12,924
	4,819,381	Nelnet Student Loan Trust		4,787
	22,000,000	Permanent Financing Plc		21,758
	25,000,000	Permanent Master Issuer Plc		23,144

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

PRINCIPAL		ISSUER		VALUE (000)
	$     5,198,600	Puma Global Mortgage Backed Trust	$	4,772
	25,000,000	Rabobank Nederland Trust		25,049
	9,710,042	SLM Student Loan Trust		9,692
	30,000,000	SLM Student Loan Trust		28,005
	8,000,000	SLM Student Loan Trust		8,003
	11,227,404	Wachovia Student Loan Trust		11,192
	2,500,660	World Omni Auto Receivable Trust		2,504
		TOTAL VARIABLE RATE SECURITY		511,879
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		667,661
		(Cost $674,706)
		TOTAL SHORT-TERM INVESTMENTS		689,011
		(Cost $696,056)
		TOTAL PORTFOLIO - 104.75%		13,328,805
		(Cost $13,043,561)
		OTHER ASSETS AND LIABILITIES, NET - (4.75)%		(604,163	)
		NET ASSETS - 100.00%	$	12,724,642

	The following abbreviations are used in portfolio descriptions:
ADR	American Depositary Receipt
LLC	Limited Liability Company
plc	Public Liability Company

*	Non-income producing
**	Percentage represents less than 0.01%.
^	Amount represents less than $1,000.
b	In bankruptcy
e	All or a portion of these securities are out on loan.
f	Restricted security
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.
	At September 30, 2009, the net unrealized appreciation on investment was $285,244,346, consisting of gross unrealized appreciation of $1,316,125,439 and gross unrealized depreciation of $(1,030,881,093).

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
September 30, 2009

COUNTRY	VALUE		% OF TOTAL PORTFOLIO
DOMESTIC
UNITED STATES	$	6,640,206,704		49.82	%
TOTAL DOMESTIC		6,640,206,704		49.82
FOREIGN
ARGENTINA		5,022,331		0.04
AUSTRALIA		457,146,564		3.43
AUSTRIA		16,564,704		0.12
BELGIUM		73,617,326		0.55
BERMUDA		1,545,420		0.01
BRAZIL		67,234,452		0.50
CAMBODIA		1,401,905		0.01
CANADA		510,562,375		3.83
CAYMAN ISLANDS		932,123		0.01
CHINA		100,546,258		0.75
CYPRUS		960,118		0.01
CZECH REPUBLIC		6,213,496		0.05
DENMARK		23,991,625		0.18
FINLAND		66,512,677		0.50
FRANCE		475,407,027		3.57
GERMANY		611,656,732		4.59
GREECE		19,560,403		0.15
HONG KONG		119,003,575		0.89
INDIA		33,072,925		0.25
INDONESIA		15,043,863		0.11
IRELAND		83,303,255		0.62
ISRAEL		75,192,326		0.56
ITALY		133,243,333		1.00
JAPAN		964,348,258		7.23
JERSEY, C.I.		1,239,320		0.01
KAZAKHSTAN		796,385		0.01
KOREA, REPUBLIC OF		55,504,283		0.42
LUXEMBOURG		9,640,523		0.07
MACAU		1,314,163		0.01
MALAYSIA		13,320,407		0.10
MEXICO		2,536,693		0.02
NETHERLANDS		251,640,635		1.89
NEW ZEALAND		1,113,013		0.01
NORWAY		19,381,457		0.14
PERU		2,388,321		0.02
PHILIPPINES		23,337,702		0.17
PORTUGAL		10,978,297		0.08
RUSSIA		12		0.00
SINGAPORE		78,162,068		0.59
SPAIN		216,865,977		1.63
SWEDEN		65,784,949		0.49
SWITZERLAND		622,232,599		4.67
TAIWAN		69,398,246		0.52
THAILAND		30,145,628		0.23
UNITED ARAB EMIRATES		2,330,238		0.02
UNITED KINGDOM		1,348,404,459		10.12
TOTAL FOREIGN		6,688,598,446		50.18
TOTAL PORTFOLIO	$	13,328,805,150		100.00	%

231

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND
GROWTH ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2009

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 98.56%
AMUSEMENT AND RECREATION SERVICES - 0.32%
	348,224	*	Electronic Arts, Inc	$	6,634
	966,217		Walt Disney Co		26,532
	16,425	*	Warner Music Group Corp		91
	46,606	*	WMS Industries, Inc		2,077
			TOTAL AMUSEMENT AND RECREATION SERVICES		35,334
APPAREL AND ACCESSORY STORES - 1.52%
	48,354		Abercrombie & Fitch Co (Class A)		1,590
	299,203	*	Aeropostale, Inc		13,006
	180,102		American Eagle Outfitters, Inc		3,037
	181,541	*	Chico’s FAS, Inc		2,360
	76,669		Foot Locker, Inc		916
	1,931,233		Gap, Inc		41,328
	101,539	*	Hanesbrands, Inc		2,173
	1,270,437	*	Kohl’s Corp		72,478
	193,125		Limited Brands, Inc		3,281
	177,600		Nordstrom, Inc		5,424
	374,757		Ross Stores, Inc		17,902
	137,762	*	Urban Outfitters, Inc		4,156
			TOTAL APPAREL AND ACCESSORY STORES		167,651
APPAREL AND OTHER TEXTILE PRODUCTS - 0.44%
	422,537		Guess ?, Inc		15,651
	389,772		Nike, Inc (Class B)		25,219
	35,481		Phillips-Van Heusen Corp		1,518
	55,966		Polo Ralph Lauren Corp (Class A)		4,288
	21,485		VF Corp		1,556
			TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		48,232
AUTO REPAIR, SERVICES AND PARKING - 0.02%
	55,689		Ryder System, Inc		2,175
			TOTAL AUTO REPAIR, SERVICES AND PARKING		2,175

232

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.18%
	102,848		Advance Auto Parts	$	4,040
	7,300	*	Autonation, Inc		132
	33,019	*	Autozone, Inc		4,828
	167,947	*	Carmax, Inc		3,510
	72,220	*	Copart, Inc		2,398
	145,606	*	O’Reilly Automotive, Inc		5,263
	14,155		Penske Auto Group, Inc		271
			TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		20,442
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.17%
	141,673		Fastenal Co		5,483
	123,396		Home Depot, Inc		3,287
	499,739		Lowe’s Cos, Inc		10,465
			TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		19,235
BUSINESS SERVICES - 14.88%
	51,346		Aaron Rents, Inc		1,356
	348,854	*	Activision Blizzard, Inc		4,322
	1,510,119	*	Adobe Systems, Inc		49,894
	258,726	*	Affiliated Computer Services, Inc (Class A)		14,015
	187,992	*	Akamai Technologies, Inc		3,700
	382,817	*	Alliance Data Systems Corp		23,382
	34,588	*	Amdocs Ltd		930
	94,103	*	Ansys, Inc		3,526
	165,995	*	Autodesk, Inc		3,951
	540,946		Automatic Data Processing, Inc		21,259
	374,571	*	BMC Software, Inc		14,058
	49,262		Brink’s Co		1,326
	49,107	*	Brink’s Home Security Holdings, Inc		1,512
	696,430		CA, Inc		15,314
	282,255	*	Cadence Design Systems, Inc		2,072
	72,823	*	Cerner Corp		5,447
	195,159	*	Citrix Systems, Inc		7,656
	313,838	*	Cognizant Technology Solutions Corp (Class A)		12,133
	98,270	*	Computer Sciences Corp		5,180
	488,261	*	Compuware Corp		3,579
	13,100	*	Convergys Corp		130
	172,426	*	DST Systems, Inc		7,725
	598,130	*	eBay, Inc		14,122
	106,419		Equifax, Inc		3,101
	181,081	*	Expedia, Inc		4,337
	83,772	*	F5 Networks, Inc		3,320
	44,465		Factset Research Systems, Inc		2,945
	428,424		Fidelity National Information Services, Inc		10,929

233

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	167,081	*	Fiserv, Inc	$	8,053
	654,006	*	Google, Inc (Class A)		324,289
	111,281	*	HLTH Corp		1,625
	50,385	*	IHS, Inc (Class A)		2,576
	48,460		IMS Health, Inc		744
	17,395		Interactive Data Corp		456
	1,281,149	*	Interpublic Group of Cos, Inc		9,634
	346,922	*	Intuit, Inc		9,887
	193,704	*	Iron Mountain, Inc		5,164
	1,939,465	*	Juniper Networks, Inc		52,404
	270,745		Mastercard, Inc (Class A)		54,731
	166,998	*	McAfee, Inc		7,313
	16,263,963		Microsoft Corp		421,074
	80,331	*	Monster Worldwide, Inc		1,404
	201,489		Moody’s Corp		4,122
	764,137	*	NCR Corp		10,560
	202,961	*	Netease.com (ADR)		9,271
	44,978	*	NetFlix, Inc		2,077
	161,445	*	Novell, Inc		728
	1,502,730	*	Nuance Communications, Inc		22,481
	1,879,123		Omnicom Group, Inc		69,415
	6,052,140		Oracle Corp		126,127
	203,875	*	Red Hat, Inc		5,635
	164,652		Robert Half International, Inc		4,120
	470,519	*	Salesforce.com, Inc		26,787
	511,856		SAP AG. (ADR)		25,014
	125,954	*	Sohu.com, Inc		8,663
	89,360	*	Sybase, Inc		3,476
	1,521,111	*	Symantec Corp		25,053
	284,483	*	Synopsys, Inc		6,378
	130,895		Total System Services, Inc		2,109
	207,180	*	VeriSign, Inc		4,908
	1,256,778		Visa, Inc (Class A)		86,856
	54,739	*	VMware, Inc (Class A)		2,199
	7,776	*	WebMD Health Corp (Class A)		258
	3,296,581	*	Yahoo!, Inc		58,712
			TOTAL BUSINESS SERVICES		1,645,524
CHEMICALS AND ALLIED PRODUCTS - 14.77%
	2,045,821		Abbott Laboratories		101,207
	9,237	*	Abraxis Bioscience, Inc		336
	78,084		Air Products & Chemicals, Inc		6,058
	7,861		Albemarle Corp		272
	76,974		Alberto-Culver Co		2,131
	94,502	*	Alexion Pharmaceuticals, Inc		4,209
	2,478,842	*	Amgen, Inc		149,300

234

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	23,664		Avery Dennison Corp	$	852
	460,531		Avon Products, Inc		15,640
	311,303	*	Biogen Idec, Inc		15,727
	107,394	*	BioMarin Pharmaceuticals, Inc		1,942
	1,705,391		Bristol-Myers Squibb Co		38,405
	152,865		Celanese Corp (Series A)		3,822
	887,130	*	Celgene Corp		49,591
	78,305	*	Cephalon, Inc		4,560
	71,626		CF Industries Holdings, Inc		6,176
	47,279	*	Charles River Laboratories International, Inc		1,748
	76,076		Church & Dwight Co, Inc		4,317
	131,408		Clorox Co		7,729
	867,978		Colgate-Palmolive Co		66,209
	124,665	*	Dendreon Corp		3,489
	321,851		Du Pont (E.I.) de Nemours & Co		10,344
	488,902		Ecolab, Inc		22,602
	572,993		Eli Lilly & Co		18,926
	119,596		Estee Lauder Cos (Class A)		4,435
	66,476		FMC Corp		3,739
	285,782	*	Forest Laboratories, Inc		8,413
	290,997	*	Genzyme Corp		16,508
	3,429,229	*	Gilead Sciences, Inc		159,734
	173,012	*	Hospira, Inc		7,716
	815,857		Huntsman Corp		7,432
	63,642	*	Idexx Laboratories, Inc		3,182
	78,257		International Flavors & Fragrances, Inc		2,968
	40,019	*	Inverness Medical Innovations, Inc		1,550
	302,943	*	Invitrogen Corp		14,102
	3,355,566		Johnson & Johnson		204,321
	774,389	*	King Pharmaceuticals, Inc		8,340
	123,253		Lubrizol Corp		8,808
	413,760		Merck & Co, Inc		13,087
	1,023,445		Monsanto Co		79,216
	271,650		Mosaic Co		13,058
	670,302	*	Mylan Laboratories, Inc		10,732
	148,386		Nalco Holding Co		3,040
	39,814	*	NBTY, Inc		1,576
	157,892		Novartis AG.		7,900
	1,052,644		Novartis AG. (ADR)		53,032
	61,628	*	OSI Pharmaceuticals, Inc		2,175
	116,167	*	Pactiv Corp		3,026
	84,082		Perrigo Co		2,858
	464,591		Pfizer, Inc		7,689
	711,392		Praxair, Inc		58,114
	2,468,477		Procter & Gamble Co		142,974
	69,322		RPM International, Inc		1,282

235

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	2,295,776		Schering-Plough Corp	$	64,857
	47,618		Scotts Miracle-Gro Co (Class A)		2,045
	116,513	*	Sepracor, Inc		2,668
	91,676		Sherwin-Williams Co		5,515
	506,253		Shire Ltd		8,770
	568,171		Shire plc (ADR)		29,710
	131,612		Sigma-Aldrich Corp		7,104
	568,341	*	Talercris Biotherapeutics Holdings Corp		10,798
	1,608,764		Teva Pharmaceutical Industries Ltd (ADR)		81,340
	49,586	*	United Therapeutics Corp		2,429
	72,822	*	Valeant Pharmaceuticals International		2,043
	185,800	*	Vertex Pharmaceuticals, Inc		7,042
	97,746	*	Watson Pharmaceuticals, Inc		3,581
	321,703		Wyeth		15,628
			TOTAL CHEMICALS AND ALLIED PRODUCTS		1,630,129
COAL MINING - 0.29%
	129,835	*	Alpha Natural Resources, Inc		4,557
	194,295		Consol Energy, Inc		8,765
	75,088		Massey Energy Co		2,094
	443,333		Peabody Energy Corp		16,501
			TOTAL COAL MINING		31,917
COMMUNICATIONS - 0.89%
	656,491	*	American Tower Corp (Class A)		23,896
	141,195		CenturyTel, Inc		4,745
	935,235		Comcast Corp (Class A)		15,796
	110,606	*	Crown Castle International Corp		3,469
	38,634	*	CTC Media, Inc		607
	705,467	*	DIRECTV Group, Inc		19,457
	359,066	*	DISH Network Corp (Class A)		6,916
	40,070	*	Equinix, Inc		3,686
	150,006		Frontier Communications Corp		1,131
	86,360		Global Payments, Inc		4,033
	54,216	*	IAC/InterActiveCorp		1,095
	49,209	*	Leap Wireless International, Inc		962
	278,350	*	MetroPCS Communications, Inc		2,605
	75,754	*	NeuStar, Inc (Class A)		1,712
	10,454	*	NII Holdings, Inc (Class B)		313
	123,326	*	SBA Communications Corp (Class A)		3,334
	55,620		Scripps Networks Interactive (Class A)		2,055
	219,001		Windstream Corp		2,218
			TOTAL COMMUNICATIONS		98,030
DEPOSITORY INSTITUTIONS - 1.69%
	604,679		Bank of New York Mellon Corp		17,530

236

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	6,951		BOK Financial Corp	$	322
	20,532		Capitol Federal Financial		676
	23,574		Commerce Bancshares, Inc		878
	278,614		Hudson City Bancorp, Inc		3,664
	576,871		JPMorgan Chase & Co		25,278
	94,358	*	Metavante Technologies, Inc		3,253
	258,818		Northern Trust Corp		15,053
	378,528		State Street Corp		19,911
	16,000		TFS Financial Corp		190
	760,374		Wells Fargo & Co		21,427
	4,135,136		Western Union Co		78,237
			TOTAL DEPOSITORY INSTITUTIONS		186,419
EATING AND DRINKING PLACES - 1.60%
	113,266		Brinker International, Inc		1,782
	113,095		Burger King Holdings, Inc		1,989
	34,558	*	Chipotle Mexican Grill, Inc (Class A)		3,354
	146,309		Darden Restaurants, Inc		4,994
	2,266,549		McDonald’s Corp		129,351
	790,702	*	Starbucks Corp		16,328
	170,548		Wendy’s/Arby’s Group, Inc (Class A)		807
	498,047		Yum! Brands, Inc		16,813
			TOTAL EATING AND DRINKING PLACES		175,418
EDUCATIONAL SERVICES - 0.91%
	1,001,451	*	Apollo Group, Inc (Class A)		73,777
	72,162	*	Career Education Corp		1,759
	66,796		DeVry, Inc		3,695
	162,745	*	ITT Educational Services, Inc		17,970
	15,079		Strayer Education, Inc		3,282
			TOTAL EDUCATIONAL SERVICES		100,483
ELECTRIC, GAS, AND SANITARY SERVICES - 0.97%
	921,373	*	AES Corp		13,655
	112,132		Allegheny Energy, Inc		2,974
	8,649		American Water Works Co, Inc		172
	193,535	*	Calpine Corp		2,230
	350,300		Centerpoint Energy, Inc		4,354
	165,402		Constellation Energy Group, Inc		5,354
	17,910		DPL, Inc		467
	206,245		El Paso Corp		2,128
	61,931		Exelon Corp		3,073
	58,949		FPL Group, Inc		3,256
	19,401		Integrys Energy Group, Inc		696
	52,577		ITC Holdings Corp		2,390
	246,298	*	NRG Energy, Inc		6,943

237

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	102,350		NV Energy, Inc	$	1,186
	20,015		Ormat Technologies, Inc		817
	403,898		PPL Corp		12,254
	316,589		Public Service Enterprise Group, Inc		9,954
	552,791		Republic Services, Inc		14,688
	90,756	*	Stericycle, Inc		4,397
	65,135	*	Waste Connections, Inc		1,880
	474,149		Waste Management, Inc		14,139
			TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		107,007
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 12.57%
	69,205	*	A123 Systems, Inc		1,475
	993,385	*	Advanced Micro Devices, Inc		5,623
	316,579		Altera Corp		6,493
	115,369		Ametek, Inc		4,028
	183,965		Amphenol Corp (Class A)		6,932
	1,510,120		Analog Devices, Inc		41,649
	1,943,315	*	Apple Computer, Inc		360,233
	253,762	*	Avnet, Inc		6,590
	5,796		AVX Corp		69
	770,462	*	Broadcom Corp (Class A)		23,645
	14,906	*	Ciena Corp		243
	11,246,872	*	Cisco Systems, Inc		264,752
	315,581		Cooper Industries plc		11,856
	112,105	*	Cree, Inc		4,120
	151,701	*	Cypress Semiconductor Corp		1,567
	55,469	*	Dolby Laboratories, Inc (Class A)		2,118
	62,624	*	Energizer Holdings, Inc		4,154
	284,280	*	First Solar, Inc		43,455
	37,303		Harman International Industries, Inc		1,264
	254,181		Harris Corp		9,557
	59,870	*	Integrated Device Technology, Inc		405
	8,828,807		Intel Corp		172,780
	32,603	*	International Rectifier Corp		635
	67,450		Intersil Corp (Class A)		1,033
	127,604	*	JDS Uniphase Corp		907
	177,585		L-3 Communications Holdings, Inc		14,264
	238,656		Linear Technology Corp		6,594
	823,722	*	Marvell Technology Group Ltd		13,336
	274,845		Maxim Integrated Products, Inc		4,986
	242,431	*	MEMC Electronic Materials, Inc		4,032
	179,169		Microchip Technology, Inc		4,748
	152,819	*	Micron Technology, Inc		1,253
	18,638		Molex, Inc		389
	160,314		Motorola, Inc		1,377
	577,031		National Semiconductor Corp		8,234

238

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,344,796	*	NetApp, Inc	$	35,879
	60,528	*	Novellus Systems, Inc		1,270
	1,474,526	*	Nvidia Corp		22,162
	903,090	*	ON Semiconductor Corp		7,450
	127,081	*	QLogic Corp		2,186
	4,197,437		Qualcomm, Inc		188,801
	112,233	*	Rambus, Inc		1,953
	597,052	*	Renewable Energy Corp AS		5,241
	584,412	*	Research In Motion Ltd		39,477
	47,808	*	Silicon Laboratories, Inc		2,216
	105,573	*	Sunpower Corp (Class A)		3,156
	17,285		Teleflex, Inc		835
	1,374,113		Texas Instruments, Inc		32,553
	19,723	*	Thomas & Betts Corp		593
	78,541	*	Varian Semiconductor Equipment Associates, Inc		2,579
	40,682	*	Vishay Intertechnology, Inc		321
	295,499		Xilinx, Inc		6,921
			TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		1,388,389
ENGINEERING AND MANAGEMENT SERVICES - 1.20%
	315,868		Accenture plc		11,773
	100,202	*	Aecom Technology Corp		2,719
	153,949	*	Amylin Pharmaceuticals, Inc		2,108
	73,478	*	Baidu, Inc (ADR)		28,734
	193,342		Fluor Corp		9,831
	64,004	*	Genpact Ltd		787
	55,920	*	Gen-Probe, Inc		2,317
	222,338	*	Hewitt Associates, Inc (Class A)		8,100
	133,040	*	Jacobs Engineering Group, Inc		6,113
	375,430		KBR, Inc		8,744
	627,534	*	McDermott International, Inc		15,859
	103,493	*	Myriad Genetics, Inc		2,836
	346,280		Paychex, Inc		10,059
	454,400	*	SAIC, Inc		7,970
	367,877	*	Shaw Group, Inc		11,805
	11,507	*	URS Corp		502
	90,257	*	VCA Antech, Inc		2,427
			TOTAL ENGINEERING AND MANAGEMENT SERVICES		132,684
FABRICATED METAL PRODUCTS - 0.28%
	34,586	*	Alliant Techsystems, Inc		2,693
	64,044		Ball Corp		3,151
	29,079		Crane Co		751
	454,691	*	Crown Holdings, Inc		12,367
	193,998		Illinois Tool Works, Inc		8,286

239

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	27,940		Pentair, Inc	$	825
	16,148		Snap-On, Inc		561
	22,625		Valmont Industries, Inc		1,927
			TOTAL FABRICATED METAL PRODUCTS		30,561
FOOD AND KINDRED PRODUCTS - 4.53%
	386,664		Archer Daniels Midland Co		11,298
	144,153		Campbell Soup Co		4,702
	2,310,237		Coca-Cola Co		124,061
	817,994		Coca-Cola Enterprises, Inc		17,513
	1,593,077		ConAgra Foods, Inc		34,538
	775,166		Del Monte Foods Co		8,976
	248,361	*	Dr Pepper Snapple Group, Inc		7,140
	68,673		Flowers Foods, Inc		1,805
	184,352		General Mills, Inc		11,869
	273,797		H.J. Heinz Co		10,883
	73,986	*	Hansen Natural Corp		2,718
	95,765		Hershey Co		3,721
	9,016		Hormel Foods Corp		320
	298,605		InBev NV		13,635
	785,607		Kellogg Co		38,676
	140,438		McCormick & Co, Inc		4,766
	22,100		Mead Johnson Nutrition Co		997
	8,117		Molson Coors Brewing Co (Class B)		395
	121,564		Pepsi Bottling Group, Inc		4,430
	3,348,941		PepsiCo, Inc		196,450
	184,365		Sara Lee Corp		2,054
	15,300	*	Smithfield Foods, Inc		211
			TOTAL FOOD AND KINDRED PRODUCTS		501,158
FOOD STORES - 0.24%
	1,105,323		Kroger Co		22,814
	29,792	*	Panera Bread Co (Class A)		1,639
	99,564	*	Whole Foods Market, Inc		3,036
			TOTAL FOOD STORES		27,489
FORESTRY - 0.01%
	38,529		Rayonier, Inc		1,576
			TOTAL FORESTRY		1,576
FURNITURE AND FIXTURES - 0.05%
	25,675		Hill-Rom Holdings, Inc		559
	23,136	*	Kinetic Concepts, Inc		856
	104,027		Leggett & Platt, Inc		2,018
	178,782		Masco Corp		2,310
			TOTAL FURNITURE AND FIXTURES		5,743

240

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
FURNITURE AND HOME FURNISHINGS STORES - 0.77%
	1,360,585	*	Bed Bath & Beyond, Inc	$	51,077
	750,250		Best Buy Co, Inc		28,149
	154,857	*	GameStop Corp (Class A)		4,099
	21,366		RadioShack Corp		354
	43,568		Williams-Sonoma, Inc		881
			TOTAL FURNITURE AND HOME FURNISHINGS STORES		84,560
GENERAL BUILDING CONTRACTORS - 0.02%
	9,800		KB Home		163
	14,659		MDC Holdings, Inc		509
	1,028	*	NVR, Inc		656
	44,989	*	Pulte Homes, Inc		494
			TOTAL GENERAL BUILDING CONTRACTORS		1,822
GENERAL MERCHANDISE STORES - 2.80%
	11,654	*	Big Lots, Inc		292
	9,862	*	BJ’s Wholesale Club, Inc		357
	468,022		Costco Wholesale Corp		26,425
	151,209		Family Dollar Stores, Inc		3,992
	666,477		Macy’s, Inc		12,190
	811,380		Target Corp		37,875
	1,684,773		TJX Companies, Inc		62,588
	3,361,680		Wal-Mart Stores, Inc		165,024
			TOTAL GENERAL MERCHANDISE STORES		308,743
HEALTH SERVICES - 1.55%
	287,557		AmerisourceBergen Corp		6,436
	51,459	*	Community Health Systems, Inc		1,643
	68,307	*	Covance, Inc		3,699
	47,050	*	Coventry Health Care, Inc		939
	111,115	*	DaVita, Inc		6,294
	59,723	*	Edwards Lifesciences Corp		4,175
	730,008	*	Express Scripts, Inc		56,633
	273,730	*	Health Management Associates, Inc (Class A)		2,050
	116,343	*	Laboratory Corp of America Holdings		7,644
	311,628	*	Lincare Holdings, Inc		9,738
	417,158		McKesson Corp		24,842
	520,262	*	Medco Health Solutions, Inc		28,776
	216,123		Omnicare, Inc		4,867
	17,447	*	Pediatrix Medical Group, Inc		958
	111,562		Pharmaceutical Product Development, Inc		2,448
	166,906		Quest Diagnostics, Inc		8,711
	351,005	*	Tenet Healthcare Corp		2,064
	3,419		Universal Health Services, Inc (Class B)		212
			TOTAL HEALTH SERVICES		172,129

241

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
HOLDING AND OTHER INVESTMENT OFFICES - 1.38%
	43,799	*	Affiliated Managers Group, Inc	$	2,847
	10,305		Alexandria Real Estate Equities, Inc		560
	82,077		Digital Realty Trust, Inc		3,752
	13		Duke Realty Corp		0	^
	10,762		Federal Realty Investment Trust		660
	122,469		HCP, Inc		3,520
	59,970		Health Care REIT, Inc		2,496
	2,470,750		iShares Russell 1000 Growth Index Fund		114,420
	81,670		Nationwide Health Properties, Inc		2,531
	60,843		Plum Creek Timber Co, Inc		1,864
	144,440		Public Storage, Inc		10,868
	109,486		Simon Property Group, Inc		7,602
	64,003		WABCO Holdings, Inc		1,344
			TOTAL HOLDING AND OTHER INVESTMENT OFFICES		152,464
HOTELS AND OTHER LODGING PLACES - 0.52%
	11,046		Choice Hotels International, Inc		343
	834,682	*	Las Vegas Sands Corp		14,056
	149,525		Marriott International, Inc (Class A)		4,125
	102,835	*	MGM Mirage		1,238
	581,323	*	Orient-Express Hotels Ltd (Class A)		6,691
	888,733		Starwood Hotels & Resorts Worldwide, Inc		29,356
	86,764		Wyndham Worldwide Corp		1,416
	516,800	*,m	Wynn Macau Ltd		672
			TOTAL HOTELS AND OTHER LODGING PLACES		57,897
INDUSTRIAL MACHINERY AND EQUIPMENT - 7.67%
	415,381	*	AGCO Corp		11,477
	1,011,694		Applied Materials, Inc		13,557
	1,321,258	*	Brocade Communications Systems, Inc		10,385
	19,613		Bucyrus International, Inc (Class A)		699
	17,071		Carlisle Cos, Inc		579
	325,458		Caterpillar, Inc		16,706
	71,690		Cummins, Inc		3,212
	113,418		Deere & Co		4,868
	3,072,928	*	Dell, Inc		46,893
	61,648		Diebold, Inc		2,030
	81,272		Donaldson Co, Inc		2,814
	427,861		Dover Corp		16,584
	88,524	*	Dresser-Rand Group, Inc		2,750
	447,789	*	EMC Corp		7,630
	1,411,107		Emerson Electric Co		56,557
	126,207		Flowserve Corp		12,436

242

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	132,772	*	FMC Technologies, Inc	$	6,936
	31,674		Graco, Inc		883
	4,347,468		Hewlett-Packard Co		205,243
	53,269		IDEX Corp		1,489
	2,047,613		International Business Machines Corp		244,914
	677,775		International Game Technology		14,560
	191,209		ITT Industries, Inc		9,972
	737,120		Jabil Circuit, Inc		9,885
	352,004		Johnson Controls, Inc		8,997
	405,192		Joy Global, Inc		19,830
	134,744	*	Lam Research Corp		4,603
	48,258		Lennox International, Inc		1,743
	85,224	*	Micros Systems, Inc		2,573
	308,391		Northrop Grumman Corp		15,959
	125,370		Pall Corp		4,047
	652,970		Raytheon Co		31,323
	115,878	*	SanDisk Corp		2,515
	69,707	*	Scientific Games Corp (Class A)		1,103
	1,026,147		Seagate Technology, Inc		15,608
	152,744	*	Teradata Corp		4,204
	247,651	*	Terex Corp		5,134
	37,296		Toro Co		1,483
	134,853	*	Varian Medical Systems, Inc		5,681
	493,226	*	Western Digital Corp		18,018
	59,321	*	Zebra Technologies Corp (Class A)		1,538
			TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		847,418
INSTRUMENTS AND RELATED PRODUCTS - 4.31%
	370,008	*	Agilent Technologies, Inc		10,297
	183,004		Alcon, Inc		25,377
	328,410		Allergan, Inc		18,641
	107,269		Bard (C.R.), Inc		8,432
	1,184,208		Baxter International, Inc		67,512
	77,005		Beckman Coulter, Inc		5,309
	258,320		Becton Dickinson & Co		18,018
	20,573	*	Bio-Rad Laboratories, Inc (Class A)		1,890
	4,158,783	*	Boston Scientific Corp		44,042
	571,197		Danaher Corp		38,453
	159,540		Dentsply International, Inc		5,511
	160,769	*	Flir Systems, Inc		4,497
	97,642		Garmin Ltd		3,685
	26,990		Hillenbrand, Inc		550
	27,054	*	Hologic, Inc		442
	132,947	*	Illumina, Inc		5,650
	199,434	*	Intuitive Surgical, Inc		52,302
	39,225	*	Itron, Inc		2,516

243

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,403,293		Medtronic, Inc	$	51,641
	35,813	*	Mettler-Toledo International, Inc		3,244
	60,334	*	Millipore Corp		4,243
	62,036		National Instruments Corp		1,714
	30,602		PerkinElmer, Inc		589
	80,944	*	Resmed, Inc		3,659
	14,637		Rockwell Automation, Inc		624
	504,340		Rockwell Collins, Inc		25,620
	400,463		Roper Industries, Inc		20,415
	372,173	*	St. Jude Medical, Inc		14,518
	365,121		Stryker Corp		16,587
	40,380		Techne Corp		2,526
	186,429	*	Teradyne, Inc		1,724
	174,710	*	Thermo Electron Corp		7,630
	128,314	*	Trimble Navigation Ltd		3,068
	103,591	*	Waters Corp		5,787
			TOTAL INSTRUMENTS AND RELATED PRODUCTS		476,713
INSURANCE AGENTS, BROKERS AND SERVICE - 0.05%
	98,451		Arthur J. Gallagher & Co		2,399
	91,421		Brown & Brown, Inc		1,752
	40,168		Marsh & McLennan Cos, Inc		993
			TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		5,144
INSURANCE CARRIERS - 1.60%
	209,219		ACE Ltd		11,185
	527,362		Aetna, Inc		14,676
	1,227,125		Aflac, Inc		52,447
	396,015		Axis Capital Holdings Ltd		11,952
	203,865		Cigna Corp		5,727
	16,196		CNA Financial Corp		391
	17,160		Endurance Specialty Holdings Ltd		626
	23,031		Erie Indemnity Co (Class A)		863
	40,138		Fidelity National Title Group, Inc (Class A)		605
	200,431		Genworth Financial, Inc (Class A)		2,395
	4,013		Hanover Insurance Group, Inc		166
	65,979	*	Humana, Inc		2,461
	73,290	*	Leucadia National Corp		1,812
	101,776		Lincoln National Corp		2,637
	3,700		Odyssey Re Holdings Corp		240
	90,413		PartnerRe Ltd		6,956
	529,398		Principal Financial Group		14,500
	75,660		Progressive Corp		1,254
	386,727		Prudential Financial, Inc		19,302
	8,126		Reinsurance Group of America, Inc (Class A)		362

244

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	270,395		UnitedHealth Group, Inc	$	6,771
	16,850		Validus Holdings Ltd		435
	48,149		W.R. Berkley Corp		1,217
	369,298	*	WellPoint, Inc		17,490
			TOTAL INSURANCE CARRIERS		176,470
JUSTICE, PUBLIC ORDER AND SAFETY - 0.00%**
	14,997	*	Corrections Corp of America		340
			TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		340
LEATHER AND LEATHER PRODUCTS - 0.23%
	776,992		Coach, Inc		25,579
			TOTAL LEATHER AND LEATHER PRODUCTS		25,579
LEGAL SERVICES - 0.02%
	55,464	*	FTI Consulting, Inc		2,363
			TOTAL LEGAL SERVICES		2,363
METAL MINING - 1.01%
	267,509		Anglo American plc		8,520
	165,212		Barrick Gold Corp		6,262
	88,170		Cleveland-Cliffs, Inc		2,853
	1,463,771		Companhia Vale do Rio Doce (ADR)		33,857
	473,448		Freeport-McMoRan Copper & Gold, Inc (Class B)		32,483
	516,088		Newmont Mining Corp		22,718
	12,733		Royal Gold, Inc		581
	139,460		Southern Copper Corp		4,280
			TOTAL METAL MINING		111,554
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.28%
	11,969		Armstrong World Industries, Inc		412
	349,651		Hasbro, Inc		9,703
	41,404	*	Intrepid Potash, Inc		977
	486,560		Jarden Corp		13,658
	296,739		Mattel, Inc		5,478
			TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		30,228
MISCELLANEOUS RETAIL - 2.80%
	1,427,852	*	Amazon.com, Inc		133,304
	8,012		Barnes & Noble, Inc		178
	2,527,259		CVS Corp		90,325
	92,030	*	Dick’s Sporting Goods, Inc		2,061
	96,350	*	Dollar Tree, Inc		4,690
	52,013	*	Marvel Entertainment, Inc		2,581
	46,405		MSC Industrial Direct Co (Class A)		2,022

245

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	67,687	*	Office Depot, Inc	$	448
	133,929		Petsmart, Inc		2,913
	44,675	*	Priceline.com, Inc		7,408
	768,394		Staples, Inc		17,842
	121,704		Tiffany & Co		4,689
	1,069,629		Walgreen Co		40,079
			TOTAL MISCELLANEOUS RETAIL		308,540
MOTION PICTURES - 0.25%
	177,531	*	Discovery Communications, Inc (Class A)		5,129
	280,647	*	Discovery Communications, Inc (Class C)		7,305
	74,396	*	Macrovision Solutions Corp		2,500
	42,281		Regal Entertainment Group (Class A)		521
	372,660		Time Warner, Inc		10,725
	159,662	*	tw telecom inc (Class A)		2,147
			TOTAL MOTION PICTURES		28,327
NONDEPOSITORY INSTITUTIONS - 0.29%
	201,075		American Express Co		6,816
	33,889	*	AmeriCredit Corp		535
	500,019		Capital One Financial Corp		17,865
	54,041		CapitalSource, Inc		235
	98,000		CIT Group, Inc		119
	214,194		GLG Partners, Inc		863
	103,064		Lender Processing Services, Inc		3,934
	111,897	*	SLM Corp		976
	2,300		Student Loan Corp		107
			TOTAL NONDEPOSITORY INSTITUTIONS		31,450
NONMETALLIC MINERALS, EXCEPT FUELS - 0.01%
	17,901		Compass Minerals International, Inc		1,103
			TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		1,103
OIL AND GAS EXTRACTION - 3.09%
	280,240		Anadarko Petroleum Corp		17,579
	137,667		Apache Corp		12,642
	51,564	*	Atwood Oceanics, Inc		1,819
	456,116	*	Cameron International Corp		17,250
	28,543	*	CNX Gas Corp		876
	3,844	*	Comstock Resources, Inc		154
	464,243	*	Concho Resources, Inc		16,861
	15,556	*	Continental Resources, Inc		609
	239,873		Crescent Point Energy Corp		8,110
	557,509	*	Denbury Resources, Inc		8,435
	184,456		Diamond Offshore Drilling, Inc		17,619
	42,971		ENSCO International, Inc		1,828

246

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	140,637		Equitable Resources, Inc	$	5,991
	130,692	*	EXCO Resources, Inc		2,443
	34,700	*	Exterran Holdings, Inc		824
	46,056	*	Forest Oil Corp		901
	35,835		Helmerich & Payne, Inc		1,417
	97,840	*	Mariner Energy, Inc		1,387
	901,305	*	National Oilwell Varco, Inc		38,873
	428,517		Occidental Petroleum Corp		33,596
	58,358	*	Oceaneering International, Inc		3,312
	26,610		Patterson-UTI Energy, Inc		402
	316,664	*	PetroHawk Energy Corp		7,666
	287,149		Petroleo Brasileiro S.A. (ADR)		13,180
	81,198	*	Plains Exploration & Production Co		2,246
	85,839	*	Pride International, Inc		2,613
	127,034	*	Quicksilver Resources, Inc		1,803
	718,054		Range Resources Corp		35,443
	23,827		Rowan Cos, Inc		550
	783,064		Schlumberger Ltd		46,671
	5,722	*	Seahawk Drilling, Inc		178
	142,398		Smith International, Inc		4,087
	370,793	*	Southwestern Energy Co		15,826
	20,351		St. Mary Land & Exploration Co		661
	527,553		Tullow Oil plc		9,510
	211,827		XTO Energy, Inc		8,753
			TOTAL OIL AND GAS EXTRACTION		342,115
PAPER AND ALLIED PRODUCTS - 0.26%
	90,744		Greif, Inc (Class A)		4,995
	388,640		Kimberly-Clark Corp		22,922
	11,860		Packaging Corp of America		242
			TOTAL PAPER AND ALLIED PRODUCTS		28,159
PERSONAL SERVICES - 0.07%
	27,161		Cintas Corp		823
	364,921		H&R Block, Inc		6,707
	5,012		Weight Watchers International, Inc		138
			TOTAL PERSONAL SERVICES		7,668
PETROLEUM AND COAL PRODUCTS - 1.11%
	7,772		Ashland, Inc		336
	1,487,339	c	Exxon Mobil Corp		102,047
	91,610		Frontier Oil Corp		1,275
	45,525		Holly Corp		1,166
	246,404		Suncor Energy, Inc		8,516
	62,888		Tesoro Corp		942
	140,762		Walter Industries, Inc		8,454
			TOTAL PETROLEUM AND COAL PRODUCTS		122,736

247

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
PRIMARY METAL INDUSTRIES - 0.80%
	487,874		Alcoa, Inc	$	6,401
	2,199,644		Corning, Inc		33,677
	10,460		Hubbell, Inc (Class B)		439
	358,399		Precision Castparts Corp		36,510
	18,640		Schnitzer Steel Industries, Inc (Class A)		993
	65,605		Vallourec		11,117
			TOTAL PRIMARY METAL INDUSTRIES		89,137
PRINTING AND PUBLISHING - 0.17%
	56,529		Dun & Bradstreet Corp		4,258
	42,556		John Wiley & Sons, Inc (Class A)		1,480
	337,890		McGraw-Hill Cos, Inc		8,495
	107,977	*	MSCI, Inc (Class A)		3,198
	14,400		New York Times Co (Class A)		117
	59,089		R.R. Donnelley & Sons Co		1,256
			TOTAL PRINTING AND PUBLISHING		18,804
RAILROAD TRANSPORTATION - 0.59%
	330,518		CSX Corp		13,835
	153,338	*	Kansas City Southern Industries, Inc		4,062
	333,458		Norfolk Southern Corp		14,375
	572,772		Union Pacific Corp		33,422
			TOTAL RAILROAD TRANSPORTATION		65,694
REAL ESTATE - 0.05%
	254,287	*	CB Richard Ellis Group, Inc (Class A)		2,985
	97,476	*	St. Joe Co		2,839
			TOTAL REAL ESTATE		5,824
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.11%
	261,127	*	Goodyear Tire & Rubber Co		4,447
	502,185		Newell Rubbermaid, Inc		7,879
			TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		12,326
SECURITY AND COMMODITY BROKERS - 2.74%
	24,006		Ameriprise Financial, Inc		872
	119,747	*	Artio Global Investors, Inc		3,131
	57,320		BlackRock, Inc		12,428
	91,918		Broadridge Financial Solutions, Inc		1,848
	2,201,812		Charles Schwab Corp		42,165
	3,997		CME Group, Inc		1,232
	4,957,671	*	E*Trade Financial Corp		8,676

248

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	125,225		Eaton Vance Corp	$	3,505
	86,795		Federated Investors, Inc (Class B)		2,289
	126,298		Franklin Resources, Inc		12,706
	604,471		Goldman Sachs Group, Inc		111,433
	21,991		Greenhill & Co, Inc		1,970
	78,471	*	IntercontinentalExchange, Inc		7,627
	503,768		Invesco Ltd		11,466
	6,282	*	Investment Technology Group, Inc		175
	171,023		Janus Capital Group, Inc		2,425
	93,717	*	Jefferies Group, Inc		2,552
	81,094		Lazard Ltd (Class A)		3,350
	1,461,713		Morgan Stanley		45,137
	20,051	*	Morningstar, Inc		974
	63,162	*	Nasdaq Stock Market, Inc		1,330
	73,954		NYSE Euronext		2,137
	127,570		SEI Investments Co		2,511
	275,914		T Rowe Price Group, Inc		12,609
	280,765	*	TD Ameritrade Holding Corp		5,509
	91,241		Waddell & Reed Financial, Inc (Class A)		2,596
			TOTAL SECURITY AND COMMODITY BROKERS		302,653
STONE, CLAY, AND GLASS PRODUCTS - 0.72%
	748,914		3M Co		55,269
	47,103		Eagle Materials, Inc		1,346
	149,180		Gentex Corp		2,111
	18,613		Martin Marietta Materials, Inc		1,714
	44,663	*	Owens Corning, Inc		1,003
	484,978	*	Owens-Illinois, Inc		17,896
			TOTAL STONE, CLAY, AND GLASS PRODUCTS		79,339
TOBACCO PRODUCTS - 1.94%
	3,426,128		Altria Group, Inc		61,019
	237,566		Lorillard, Inc		17,651
	2,777,796		Philip Morris International, Inc		135,390
			TOTAL TOBACCO PRODUCTS		214,060
TRANSPORTATION BY AIR - 0.39%
	313,290	*	AMR Corp		2,491
	149,440	*	Continental Airlines, Inc (Class B)		2,457
	32,557		Copa Holdings S.A. (Class A)		1,448
	827,574	*	Delta Air Lines, Inc		7,415
	355,699		FedEx Corp		26,756
	252,138		Southwest Airlines Co		2,421
			TOTAL TRANSPORTATION BY AIR		42,988

249

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
TRANSPORTATION EQUIPMENT - 2.02%
	53,187	*	BE Aerospace, Inc	$	1,071
	64,768		Boeing Co		3,507
	8,600	*	Federal Mogul Corp (Class A)		104
	145,403		General Dynamics Corp		9,393
	270,969		Goodrich Corp		14,724
	62,823		Harsco Corp		2,225
	1,313,077		Honeywell International, Inc		48,781
	588,076		Lockheed Martin Corp		45,917
	68,019	*	Navistar International Corp		2,545
	360,389		Paccar, Inc		13,590
	40,060	*	Spirit Aerosystems Holdings, Inc (Class A)		723
	21,473		Thor Industries, Inc		665
	42,319	*	TransDigm Group, Inc		2,108
	16,500	*	TRW Automotive Holdings Corp		276
	1,246,472		United Technologies Corp		75,948
	50,935		Westinghouse Air Brake Technologies Corp		1,912
			TOTAL TRANSPORTATION EQUIPMENT		223,489
TRANSPORTATION SERVICES - 0.19%
	181,970		CH Robinson Worldwide, Inc		10,508
	228,057		Expeditors International Washington, Inc		8,016
	23,453		GATX Corp		656
	100,529		UTI Worldwide, Inc		1,456
			TOTAL TRANSPORTATION SERVICES		20,636
TRUCKING AND WAREHOUSING - 0.43%
	17,549		Con-way, Inc		672
	92,657		J.B. Hunt Transport Services, Inc		2,977
	55,082		Landstar System, Inc		2,096
	745,882		United Parcel Service, Inc (Class B)		42,121
			TOTAL TRUCKING AND WAREHOUSING		47,866
WATER TRANSPORTATION - 0.07%
	214,026		Carnival Corp		7,123
	13,375	*	Kirby Corp		492
	47,391	*	Royal Caribbean Cruises Ltd		1,141
	20,913		Teekay Corp		457
			TOTAL WATER TRANSPORTATION		9,213
WHOLESALE TRADE-DURABLE GOODS - 0.15%
	53,448	*	Arrow Electronics, Inc		1,505
	115,362		BorgWarner, Inc		3,491
	21,500	*	Emdeon, Inc		348
	151,216	*	LKQ Corp		2,804
	109,217	*	Patterson Cos, Inc		2,976
	65,619		W.W. Grainger, Inc		5,864

250

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES COMPANY RATE MATURITY
DATE VALUE
(000)

	25,526	*	WESCO International, Inc	$	735
			TOTAL WHOLESALE TRADE-DURABLE GOODS		17,723
WHOLESALE TRADE-NONDURABLE GOODS - 0.57%
	69,257		Allscripts Healthcare Solutions, Inc		1,404
	81,828		Brown-Forman Corp (Class B)		3,946
	609,451	*	Dean Foods Co		10,842
	200,628	*	Endo Pharmaceuticals Holdings, Inc		4,540
	37,291	*	Green Mountain Coffee Roasters, Inc		2,754
	96,940	*	Henry Schein, Inc		5,323
	290,473		Herbalife Ltd		9,510
	636,464		Sysco Corp		15,816
	261,212		Terra Industries, Inc		9,056
	5,900		Valhi, Inc		72
			TOTAL WHOLESALE TRADE-NONDURABLE GOODS		63,263
			TOTAL COMMON STOCKS		10,892,133
			(Cost $10,276,514)

PRINCIPAL		ISSUER
SHORT TERM INVESTMENTS - 1.13%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 0.53%
	$     33,200,000	Federal Home Loan Mortgage Corp (FHLMC)	0.000	%	11/2/09		33,193
	25,445,000	Federal National Mortgage Association (FNMA)	0.000		11/16/09		25,441
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES					58,634
U.S. TREASURY BILLS - 0.60%
	36,000,000	United States Cash Management Bill	0.000		7/15/10		35,911
	12,100,000	United States Treasury Bill	0.000		10/8/09		12,099
	18,000,000	United States Treasury Bill	0.000		11/19/09		17,994
		TOTAL U.S. TREASURY BILLS					66,004
		TOTAL SHORT-TERM INVESTMENTS					124,638
		(Cost $124,639)
		TOTAL PORTFOLIO - 99.69%					11,016,771
		(Cost $10,401,153)
		OTHER ASSETS AND LIABILITIES, NET - 0.31%					34,505
		NET ASSETS - 100.00%				$	11,051,276

	The following abbreviations are used in portfolio descriptions:
ADR	American Depositary Receipt
plc	Public Limited Company

251

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

*	Non-income producing
**	Percentage represents less than 0.01%.
^	Amount represents less than $1,000.
c	All or a portion of these securities have been segregated by the Custodian to cover margin or other requirements on open futures contracts in the amount of $10,803,056.
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.
	At September 30, 2009, the net unrealized appreciation on investment was $615,617,889, consisting of gross unrealized appreciation of $1,093,992,863 and gross unrealized depreciation of $(478,374,974).

Open Futures Contracts	Number of Contracts	Market Value	Expiration Date	Unrealized Appreciation
E-mini S&P 500 Index	2,414	$127,085,030	December 2009	$1,884,489

252

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND
GROWTH ACCOUNT
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
September 30, 2009

COUNTRY	VALUE		% OF TOTAL PORTFOLIO
DOMESTIC
UNITED STATES	$	10,451,527,041		94.87	%
TOTAL DOMESTIC		10,451,527,041		94.87
FOREIGN
BELGIUM		13,635,440		0.12
BERMUDA		434,730		0.00	**
BRAZIL		47,037,162		0.43
CANADA		62,364,691		0.57
CHINA		46,667,946		0.42
FRANCE		11,117,148		0.10
GERMANY		25,014,403		0.23
GUERNSEY, C.I.		929,725		0.01
IRELAND		50,252,369		0.46
ISRAEL		81,339,108		0.74
MACAU		672,169		0.01
MEXICO		4,280,027		0.04
NORWAY		5,698,020		0.05
PANAMA		1,448,461		0.01
SWITZERLAND		196,321,915		1.78
UNITED KINGDOM		18,030,746		0.16
TOTAL FOREIGN		565,244,060		5.13
TOTAL PORTFOLIO	$	11,016,771,101		100.00	%

** Percentage represents less than 0.01%.

253

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND
EQUITY INDEX ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2009

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.65%
AGRICULTURAL PRODUCTION-CROPS - 0.01%
	31,603	*	Chiquita Brands International, Inc	$	511
	2,482		Griffin Land & Nurseries, Inc (Class A)		79
			TOTAL AGRICULTURAL PRODUCTION-CROPS		590
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.01%
	9,480		Cal-Maine Foods, Inc		254
	269		Seaboard Corp		349
			TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		603
AGRICULTURAL SERVICES - 0.00%**
	8,402	*	Cadiz, Inc		98
	7,129		Calavo Growers, Inc		135
			TOTAL AGRICULTURAL SERVICES		233
AMUSEMENT AND RECREATION SERVICES - 0.60%
	41,654	*	Bally Technologies, Inc		1,598
	6,588		Churchill Downs, Inc		254
	9,373		Dover Downs Gaming & Entertainment, Inc		53
	251,247	*	Electronic Arts, Inc		4,786
	24,089		International Speedway Corp (Class A)		664
	14,530	*	Lakes Entertainment, Inc		49
	30,709	*	Life Time Fitness, Inc		861
	64,272	*	Live Nation, Inc		526
	20,438	*	Multimedia Games, Inc		105
	51,327	*	Penn National Gaming, Inc		1,420
	48,180	*	Pinnacle Entertainment, Inc		491
	9,984		Speedway Motorsports, Inc		144
	26,504	*	Ticketmaster		310
	11,514	*	Town Sports International Holdings, Inc		29
	1,436,369		Walt Disney Co		39,443
	39,735	*	Warner Music Group Corp		220
	32,786	*	WMS Industries, Inc		1,460
	22,569		World Wrestling Entertainment, Inc (Class A)		316
	22,701	*	Youbet.com, Inc		48
			TOTAL AMUSEMENT AND RECREATION SERVICES	$	52,777

254

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
APPAREL AND ACCESSORY STORES - 0.67%
	67,218		Abercrombie & Fitch Co (Class A)	$	2,210
	50,961	*	Aeropostale, Inc		2,215
	23,623	*	American Apparel, Inc		83
	130,540		American Eagle Outfitters, Inc		2,201
	47,813	*	AnnTaylor Stores Corp		760
	23,033		Bebe Stores, Inc		170
	32,106		Brown Shoe Co, Inc		257
	19,480		Buckle, Inc		665
	43,571	*	Carter’s, Inc		1,163
	21,208		Cato Corp (Class A)		430
	84,814	*	Charming Shoppes, Inc		416
	136,751	*	Chico’s FAS, Inc		1,778
	17,847	*	Children’s Place Retail Stores, Inc		535
	27,159		Christopher & Banks Corp		184
	12,866	*	Citi Trends, Inc		366
	48,995	*	Collective Brands, Inc		849
	3,762	*	Destination Maternity Corp		68
	33,313	*	Dress Barn, Inc		597
	12,248	*	DSW, Inc (Class A)		196
	34,177		Finish Line, Inc (Class A)		347
	119,112		Foot Locker, Inc		1,423
	373,577		Gap, Inc		7,996
	72,404	*	Hanesbrands, Inc		1,549
	31,627	*	Hot Topic, Inc		237
	40,087	*	J Crew Group, Inc		1,436
	14,743	*	JOS A Bank Clothiers, Inc		660
	235,401	*	Kohl’s Corp		13,431
	204,693		Limited Brands, Inc		3,478
	31,095	*	Lululemon Athletica, Inc		707
	15,006	*	New York & Co, Inc		77
	126,477		Nordstrom, Inc		3,863
	49,497	*	Pacific Sunwear Of California, Inc		255
	98,853		Ross Stores, Inc		4,722
	5,056	*	Shoe Carnival, Inc		78
	30,798		Stage Stores, Inc		399
	4,598	*	Syms Corp		37
	24,891		Talbots, Inc		230
	17,529	*	Tween Brands, Inc		147
	25,346	*	Under Armour, Inc (Class A)		705
	98,352	*	Urban Outfitters, Inc		2,967
	73,584	*	Wet Seal, Inc (Class A)		278
			TOTAL APPAREL AND ACCESSORY STORES		60,165

255

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
APPAREL AND OTHER TEXTILE PRODUCTS - 0.40%
	9,339		Columbia Sportswear Co	$	384
	9,368	*	G-III Apparel Group Ltd		133
	43,320		Guess ?, Inc		1,605
	22,405	*	Gymboree Corp		1,084
	66,643		Jones Apparel Group, Inc		1,195
	80,414		Liz Claiborne, Inc		396
	13,600	*	Maidenform Brands, Inc		218
	280,036		Nike, Inc (Class B)		18,119
	39,553		Phillips-Van Heusen Corp		1,692
	42,391		Polo Ralph Lauren Corp (Class A)		3,248
	105,727	*	Quiksilver, Inc		291
	19,300	*	True Religion Apparel, Inc		500
	68,615		VF Corp		4,970
	35,032	*	Warnaco Group, Inc		1,537
			TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		35,372
AUTO REPAIR, SERVICES AND PARKING - 0.06%
	7,541	*	Amerco, Inc		346
	19,858	*	Dollar Thrifty Automotive Group, Inc		488
	142,929	*	Hertz Global Holdings, Inc		1,548
	10,010	*	Midas, Inc		94
	12,456		Monro Muffler, Inc		396
	43,349		Ryder System, Inc		1,694
	7,402	*	Standard Parking Corp		129
	31,100	*	Wright Express Corp		918
			TOTAL AUTO REPAIR, SERVICES AND PARKING		5,613
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.20%
	74,507		Advance Auto Parts		2,927
	6,968	*	America’s Car-Mart, Inc		167
	27,020		Asbury Automotive Group, Inc		343
	55,689	*	Autonation, Inc		1,007
	22,980	*	Autozone, Inc		3,360
	168,907	*	Carmax, Inc		3,530
	50,728	*	Copart, Inc		1,685
	13,017	*	Lithia Motors, Inc (Class A)		203
	105,720	*	O’Reilly Automotive, Inc		3,820
	29,308		Penske Auto Group, Inc		562
	21,664	*	Rush Enterprises, Inc (Class A)		280
	21,187		Sonic Automotive, Inc (Class A)		222
			TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		18,106
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.71%
	9,000	*	Builders FirstSource, Inc		39

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	103,159		Fastenal Co	$	3,992
	1,313,411		Home Depot, Inc		34,990
	1,138,509		Lowe’s Cos, Inc		23,840
	10,841	*	Lumber Liquidators, Inc		235
			TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		63,096
BUSINESS SERVICES - 7.69%
	301,109	*	3Com Corp		1,575
	10,702	*	3D Systems Corp		99
	36,649		Aaron Rents, Inc		968
	34,759		ABM Industries, Inc		731
	24,912	*	Acacia Research (Acacia Technologies)		217
	27,282	*	ACI Worldwide, Inc		413
	35,015	*	ActivIdentity Corp		97
	428,781	*	Activision Blizzard, Inc		5,313
	40,528	*	Actuate Corp		234
	52,067		Acxiom Corp		493
	16,355		Administaff, Inc		430
	404,366	*	Adobe Systems, Inc		13,360
	12,368	*	Advent Software, Inc		498
	70,531	*	Affiliated Computer Services, Inc (Class A)		3,821
	39,824		Aircastle Ltd		385
	132,322	*	Akamai Technologies, Inc		2,604
	41,169	*	Alliance Data Systems Corp		2,515
	149,614	*	Amdocs Ltd		4,022
	26,021	*	American Reprographics Co		248
	15,720		American Software, Inc (Class A)		103
	25,829	*	AMICAS, Inc		93
	23,326	*	AMN Healthcare Services, Inc		222
	67,294	*	Ansys, Inc		2,522
	20,202	*	APAC Customer Services, Inc		119
	22,243		Arbitron, Inc		462
	5,383	*	ArcSight, Inc		130
	68,046	*	Ariba, Inc		789
	99,812	*	Art Technology Group, Inc		385
	11,658	*	Asset Acceptance Capital Corp		85
	25,682	*	athenahealth, Inc		985
	174,292	*	Autodesk, Inc		4,148
	388,827		Automatic Data Processing, Inc		15,281
	80,768	*	Avis Budget Group, Inc		1,079
	35,025	*	Avocent Corp		710
	6,166		Barrett Business Services, Inc		65
	36,447		BGC Partners, Inc (Class A)		156
	31,258		Blackbaud, Inc		725
	24,220	*	Blackboard, Inc		915
	30,392	*	Blue Coat Systems, Inc		687

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	143,883	*	BMC Software, Inc	$	5,400
	19,249	*	Bottomline Technologies, Inc		248
	80,973	*	BPZ Energy, Inc		609
	37,869		Brady Corp (Class A)		1,088
	34,910		Brink’s Co		939
	35,022	*	Brink’s Home Security Holdings, Inc		1,078
	303,336		CA, Inc		6,670
	23,036	*	CACI International, Inc (Class A)		1,089
	201,713	*	Cadence Design Systems, Inc		1,481
	5,462	*	CAI International, Inc		40
	21,031	*	Callidus Software, Inc		63
	11,193	*	Capella Education Co		754
	30,613	*	Cavium Networks, Inc		657
	41,673	*	CBIZ, Inc		311
	52,498	*	Cerner Corp		3,927
	22,101	*	Chordiant Software, Inc		86
	52,926	*	Ciber, Inc		212
	140,718	*	Citrix Systems, Inc		5,520
	28,047	*	Clear Channel Outdoor Holdings, Inc (Class A)		196
	7,443	*	Clinical Data, Inc		124
	35,274	*	Cogent Communications Group, Inc		399
	30,867	*	Cogent, Inc		312
	32,766		Cognex Corp		537
	225,879	*	Cognizant Technology Solutions Corp (Class A)		8,732
	30,771	*	Commvault Systems, Inc		638
	14,638		Compass Diversified Trust		153
	15,742	*	Compellent Technologies, Inc		284
	9,637		Computer Programs & Systems, Inc		399
	117,156	*	Computer Sciences Corp		6,175
	11,045	*	Computer Task Group, Inc		90
	186,043	*	Compuware Corp		1,364
	11,985	*	COMSYS IT Partners, Inc		77
	31,023	*	Concur Technologies, Inc		1,233
	18,777	*	Constant Contact, Inc		361
	76,174	*	Convergys Corp		757
	14,866	*	CoStar Group, Inc		613
	29,162	*	CSG Systems International, Inc		467
	55,466	*	Cybersource Corp		925
	30,663	*	DealerTrack Holdings, Inc		580
	13,498	*	Deltek, Inc		104
	37,676		Deluxe Corp		644
	11,372	*	Dice Holdings, Inc		75
	29,296	*	Digital River, Inc		1,181
	24,156	*	DivX, Inc		132
	12,741	*	Double-Take Software, Inc		130
	29,407	*	DST Systems, Inc		1,317

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	6,729	*	Dynamics Research Corp	$	88
	18,300	*	DynCorp International, Inc (Class A)		329
	82,942		Earthlink, Inc		698
	865,284	*	eBay, Inc		20,429
	4,491	*	Ebix, Inc		249
	24,998	*	Echelon Corp		322
	42,934	*	Eclipsys Corp		829
	11,677		Electro Rent Corp		135
	39,428	*	Electronics for Imaging, Inc		444
	5,263	*	eLoyalty Corp		42
	42,487	*	Epicor Software Corp		271
	25,591	*	EPIQ Systems, Inc		371
	97,623		Equifax, Inc		2,845
	98,710	*	Evergreen Energy, Inc		61
	13,663	*	ExlService Holdings, Inc		203
	140,851	*	Expedia, Inc		3,373
	60,565	*	F5 Networks, Inc		2,400
	32,751		Factset Research Systems, Inc		2,169
	36,812		Fair Isaac Corp		791
	22,225	*	FalconStor Software, Inc		110
	147,053		Fidelity National Information Services, Inc		3,751
	5,700	*	First Advantage Corp (Class A)		106
	120,866	*	Fiserv, Inc		5,826
	11,266	*	Forrester Research, Inc		300
	43,182	*	Gartner, Inc		789
	31,343	*	Global Cash Access, Inc		229
	12,411	*	Global Sources Ltd		85
	185,300	*	Google, Inc (Class A)		91,882
	12,334	*	GSE Systems, Inc		77
	21,180	*	H&E Equipment Services, Inc		240
	30,102	*	Hackett Group, Inc		87
	33,142		Healthcare Services Group		608
	28,656		Heartland Payment Systems, Inc		416
	3,513	*	HeartWare International, Inc		105
	14,300		Heidrick & Struggles International, Inc		333
	80,358	*	HLTH Corp		1,174
	20,618	*	HMS Holdings Corp		788
	10,436	*	i2 Technologies, Inc		167
	4,942	*	ICT Group, Inc		52
	12,987		iGate Corp		111
	36,562	*	IHS, Inc (Class A)		1,869
	5,713		Imergent, Inc		45
	145,041		IMS Health, Inc		2,227
	20,612		infoGROUP, Inc		144
	67,760	*	Informatica Corp		1,530
	23,086		Infospace, Inc		179

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	22,974	*	Innerworkings, Inc	$	113
	17,040	*	Innodata Isogen, Inc		135
	11,404	*	Integral Systems, Inc		79
	27,864		Interactive Data Corp		730
	9,285	*	Interactive Intelligence, Inc		177
	34,783	*	Internap Network Services Corp		112
	21,159	*	Internet Brands, Inc (Class A)		169
	32,107	*	Internet Capital Group, Inc		268
	376,254	*	Interpublic Group of Cos, Inc		2,829
	249,460	*	Intuit, Inc		7,110
	23,825	*	inVentiv Health, Inc		399
	36,908		Ipass, Inc		51
	140,177	*	Iron Mountain, Inc		3,737
	64,362		Jack Henry & Associates, Inc		1,511
	18,698	*	JDA Software Group, Inc		410
	404,788	*	Juniper Networks, Inc		10,937
	20,372		Kelly Services, Inc (Class A)		251
	17,839	*	Kenexa Corp		240
	10,875	*	Keynote Systems, Inc		103
	21,985	*	Kforce, Inc		264
	19,259	*	Knot, Inc		210
	34,304	*	Korn/Ferry International		500
	43,697	*	Lamar Advertising Co (Class A)		1,199
	99,271	*	Lawson Software, Inc		619
	21,868	*	Limelight Networks, Inc		89
	44,720	*	Lionbridge Technologies		116
	10,323	*	Liquidity Services, Inc		107
	31,275	*	Liveperson, Inc		158
	19,563	*	Manhattan Associates, Inc		395
	60,033		Manpower, Inc		3,404
	16,598	*	Mantech International Corp (Class A)		783
	16,386		Marchex, Inc (Class B)		80
	65,777		Mastercard, Inc (Class A)		13,298
	120,113	*	McAfee, Inc		5,260
	72,751	*	Mentor Graphics Corp		677
	5,954,277		Microsoft Corp		154,157
	6,831	*	MicroStrategy, Inc (Class A)		489
	33,165	*	ModusLink Global Solutions, Inc		268
	62,930	*	MoneyGram International, Inc		198
	17,209	*	Monotype Imaging Holdings, Inc		145
	96,312	*	Monster Worldwide, Inc		1,684
	143,816		Moody’s Corp		2,942
	117,341	*	Move, Inc		317
	71,559	*	MPS Group, Inc		753
	30,812	*	MSC Software Corp		259
	7,188	*	NCI, Inc (Class A)		206

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	122,276	*	NCR Corp	$	1,690
	24,391	*	Ness Technologies, Inc		192
	32,422	*	NetFlix, Inc		1,497
	21,523	*	Netscout Systems, Inc		291
	12,764	*	NetSuite, Inc		195
	22,651	*	Network Equipment Technologies, Inc		164
	38,877		NIC, Inc		346
	263,166	*	Novell, Inc		1,187
	166,441	*	Nuance Communications, Inc		2,490
	240,592		Omnicom Group, Inc		8,887
	55,914	*	Omniture, Inc		1,199
	25,372	*	On Assignment, Inc		148
	14,464	*	Online Resources Corp		89
	2,386	*	OpenTable, Inc		66
	66,009	*	OpenTV Corp (Class A)		91
	9,552		Opnet Technologies, Inc		104
	2,957,866		Oracle Corp		61,642
	90,859	*	Parametric Technology Corp		1,256
	14,951		PC-Tel, Inc		93
	10,922		Pegasystems, Inc		377
	20,679	*	Perficient, Inc		171
	66,125	*	Perot Systems Corp (Class A)		1,964
	12,149	*	Pervasive Software, Inc		60
	35,033	*	Phase Forward, Inc		492
	19,353	*	Phoenix Technologies Ltd		71
	13,016	*	Portfolio Recovery Associates, Inc		590
	46,371	*	Premiere Global Services, Inc		385
	31,976	*	Progress Software Corp		724
	14,689	*	PROS Holdings, Inc		124
	8,302		QAD, Inc		38
	18,284		Quality Systems, Inc		1,126
	52,171	*	Quest Software, Inc		879
	50,966	*	Rackspace Hosting, Inc		869
	21,037	*	Radiant Systems, Inc		226
	15,185	*	Radisys Corp		132
	82,046	*	Raser Technologies, Inc		126
	72,153	*	RealNetworks, Inc		268
	145,532	*	Red Hat, Inc		4,023
	5,893		Renaissance Learning, Inc		59
	53,565	*	Rent-A-Center, Inc		1,011
	5,075	*	Rewards Network, Inc		70
	20,163	*	RightNow Technologies, Inc		291
	16,664	*	Riskmetrics Group Inc		244
	116,240		Robert Half International, Inc		2,908
	33,789		Rollins, Inc		637
	4,798	*	Rosetta Stone, Inc		110

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,156	*	RSC Holdings, Inc	$	248
	41,988	*	S1 Corp		259
	18,173	*	Saba Software, Inc		77
	82,913	*	Salesforce.com, Inc		4,720
	70,737	*	Sapient Corp		569
	20,806	*	Smith Micro Software, Inc		257
	23,020	*	Sohu.com, Inc		1,583
	9,112	*	SolarWinds, Inc		201
	45,445	*	SonicWALL, Inc		382
	165,491	*	Sonus Networks, Inc		351
	51,448		Sotheby’s (Class A)		886
	20,938	*	Sourcefire, Inc		450
	42,038	*	Spherion Corp		261
	13,651	*	SPSS, Inc		682
	31,079	*	SRA International, Inc (Class A)		671
	9,634	*	StarTek, Inc		84
	14,356	*	Stratasys, Inc		246
	28,228	*	SuccessFactors, Inc		397
	575,173	*	Sun Microsystems, Inc		5,228
	32,388	*	SupportSoft, Inc		78
	64,953	*	Sybase, Inc		2,527
	26,699	*	SYKES Enterprises, Inc		556
	634,209	*	Symantec Corp		10,445
	17,694	*	Synchronoss Technologies, Inc		221
	14,793	*	SYNNEX Corp		451
	112,895	*	Synopsys, Inc		2,531
	9,061		Syntel, Inc		432
	61,427		Take-Two Interactive Software, Inc		689
	11,400		TAL International Group, Inc		162
	23,943	*	Taleo Corp (Class A)		542
	5,765	*	TechTarget, Inc		33
	26,717	*	TeleTech Holdings, Inc		456
	7,088		Textainer Group Holdings Ltd		113
	48,928	*	THQ, Inc		335
	137,923	*	TIBCO Software, Inc		1,309
	13,125	*	Tier Technologies, Inc		111
	19,243	*	TNS, Inc		527
	124,011		Total System Services, Inc		1,998
	25,593	*	TradeStation Group, Inc		209
	4,369	*	Travelzoo, Inc		62
	37,265	*	TrueBlue, Inc		524
	17,682	*	Ultimate Software Group, Inc		508
	6,599	*	Unica Corp		50
	283,185	*	Unisys Corp		756
	61,183		United Online, Inc		492
	49,976	*	United Rentals, Inc		515

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	68,260	*	Valueclick, Inc	$	900
	19,828	*	Vasco Data Security International		147
	149,625	*	VeriSign, Inc		3,545
	15,178		Viad Corp		302
	5,940	*	Virtusa Corp		56
	347,421		Visa, Inc (Class A)		24,010
	39,323	*	VMware, Inc (Class A)		1,580
	11,624	*	Vocus, Inc		243
	12,149	*	Volt Information Sciences, Inc		148
	6,140	*	WebMD Health Corp (Class A)		203
	33,540	*	Websense, Inc		563
	19,543	*	Website Pros, Inc		139
	920,677	*	Yahoo!, Inc		16,397
			TOTAL BUSINESS SERVICES		685,091
CHEMICALS AND ALLIED PRODUCTS - 12.01%
	1,196,175		Abbott Laboratories		59,175
	4,621	*	Abraxis Bioscience, Inc		168
	29,951	*	Acorda Therapeutics, Inc		697
	6,188	*	Acura Pharmaceuticals, Inc		32
	33,118	*	Adolor Corp		53
	162,523		Air Products & Chemicals, Inc		12,608
	17,349	*	Albany Molecular Research, Inc		150
	68,987		Albemarle Corp		2,387
	68,218		Alberto-Culver Co		1,888
	67,270	*	Alexion Pharmaceuticals, Inc		2,996
	70,988	*	Alkermes, Inc		652
	48,230	*	Allos Therapeutics, Inc		350
	27,380	*	Alnylam Pharmaceuticals, Inc		621
	13,595	*	AMAG Pharmaceuticals, Inc		594
	48,382	*	American Oriental Bioengineering, Inc		235
	18,079		American Vanguard Corp		150
	783,441	*	Amgen, Inc		47,187
	11,531	*	Amicus Therapeutics, Inc		101
	20,784		Arch Chemicals, Inc		623
	10,757	*	Ardea Biosciences, Inc		197
	86,496	*	Arena Pharmaceuticals, Inc		387
	31,352	*	Arqule, Inc		142
	33,623	*	Array Biopharma, Inc		80
	15,509	*	ARYx Therapeutics, Inc		49
	32,087	*	Auxilium Pharmaceuticals, Inc		1,098
	47,282	*	AVANIR Pharmaceuticals, Inc		98
	86,115		Avery Dennison Corp		3,101
	59,505	*	AVI BioPharma, Inc		102
	330,148		Avon Products, Inc		11,212
	14,060		Balchem Corp		370

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	22,254	*	BioCryst Pharmaceuticals, Inc	$	183
	7,894	*	Biodel, Inc		42
	6,953	*	BioDelivery Sciences International, Inc		33
	223,761	*	Biogen Idec, Inc		11,304
	76,417	*	BioMarin Pharmaceuticals, Inc		1,382
	8,360	*	BioMimetic Therapeutics, Inc		102
	2,885	*	Biospecifics Technologies Corp		92
	1,531,152		Bristol-Myers Squibb Co		34,482
	50,868		Cabot Corp		1,176
	17,732	*	Cadence Pharmaceuticals, Inc		196
	45,612	*	Calgon Carbon Corp		676
	20,927	*	Cambrex Corp		132
	5,883	*	Caraco Pharmaceutical Laboratories Ltd		30
	7,241	*	Cardiovascular Systems, Inc		53
	109,501		Celanese Corp (Series A)		2,738
	356,153	*	Celgene Corp		19,909
	356,715	*	Cell Therapeutics, Inc		439
	11,042	*	Celldex Therapeutics, Inc		61
	57,885	*	Cephalon, Inc		3,371
	36,971		CF Industries Holdings, Inc		3,188
	50,891	*	Charles River Laboratories International, Inc		1,882
	4,622		Chase Corp		54
	16,211	*	Chattem, Inc		1,077
	14,400	*	Chelsea Therapeutics International, Inc		36
	11,855	*	China Green Agriculture, Inc		139
	42,048	*	China Precision Steel, Inc		114
	5,689	*	China-Biotics, Inc		91
	55,000		Church & Dwight Co, Inc		3,121
	107,609		Clorox Co		6,330
	386,438		Colgate-Palmolive Co		29,477
	5,072	*	Cornerstone Therapeutics, Inc		33
	43,598	*	Cubist Pharmaceuticals, Inc		881
	47,886	*	Curis, Inc		112
	35,559	*	Cypress Bioscience, Inc		291
	38,318		Cytec Industries, Inc		1,244
	33,643	*	Cytokinetics, Inc		178
	13,680	*	Cytori Therapeutics, Inc		54
	88,349	*	Dendreon Corp		2,473
	58,878	*	Discovery Laboratories, Inc		80
	860,996		Dow Chemical Co		22,447
	698,302		Du Pont (E.I.) de Nemours & Co		22,444
	50,131	*	Durect Corp		134
	55,624		Eastman Chemical Co		2,978
	184,261		Ecolab, Inc		8,518
	784,041		Eli Lilly & Co		25,897
	17,426	*	Elizabeth Arden, Inc		205

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,093	*	Emergent Biosolutions, Inc	$	214
	34,981	*	Enzon Pharmaceuticals, Inc		289
	84,961		Estee Lauder Cos (Class A)		3,150
	17,933	*	Facet Biotech Corp		310
	11,623	*	Female Health Co		59
	34,843		Ferro Corp		310
	56,330		FMC Corp		3,169
	233,916	*	Forest Laboratories, Inc		6,886
	208,221	*	Genzyme Corp		11,812
	68,660	*	Geron Corp		450
	701,728	*	Gilead Sciences, Inc		32,686
	11,695	*	GTx, Inc		150
	36,079		H.B. Fuller Co		754
	45,558	*	Halozyme Therapeutics, Inc		324
	6,809		Hawkins, Inc		159
	86,421	*	Hemispherx Biopharma, Inc		173
	6,140	*	Hi-Tech Pharmacal Co, Inc		138
	124,815	*	Hospira, Inc		5,567
	125,040	*	Human Genome Sciences, Inc		2,353
	122,095		Huntsman Corp		1,112
	20,516	*	ICO, Inc		96
	17,140	*	Idenix Pharmaceuticals, Inc		53
	14,987	*	Idera Pharmaceuticals, Inc		111
	45,410	*	Idexx Laboratories, Inc		2,271
	57,358	*	Immucor, Inc		1,015
	38,313	*	Immunogen, Inc		311
	46,831	*	Impax Laboratories, Inc		409
	13,337		Innophos Holdings, Inc		247
	16,128		Innospec, Inc		238
	47,438	*	Inspire Pharmaceuticals, Inc		248
	9,091		Inter Parfums, Inc		111
	32,210	*	InterMune, Inc		513
	61,056		International Flavors & Fragrances, Inc		2,316
	62,562	*	Inverness Medical Innovations, Inc		2,423
	133,630	*	Invitrogen Corp		6,220
	29,249	*	Javelin Pharmaceuticals, Inc		57
	2,126,934		Johnson & Johnson		129,508
	11,905		Kaiser Aluminum Corp		433
	190,295	*	King Pharmaceuticals, Inc		2,049
	16,539		Koppers Holdings, Inc		490
	28,632	*	KV Pharmaceutical Co (Class A)		88
	14,893	*	Landec Corp		95
	7,363	*	Lannett Co, Inc		55
	87,765	*	Ligand Pharmaceuticals, Inc (Class B)		203
	51,368		Lubrizol Corp		3,671
	9,202		Mannatech, Inc		35

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	40,693	*	MannKind Corp	$	401
	5,396	*	MAP Pharmaceuticals, Inc		56
	25,699		Martek Biosciences Corp		581
	40,166	*	Medicines Co		442
	44,203		Medicis Pharmaceutical Corp (Class A)		944
	9,661	*	Medifast, Inc		210
	21,973	*	Medivation, Inc		596
	1,632,386		Merck & Co, Inc		51,632
	31,965		Meridian Bioscience, Inc		799
	44,376	*	Micromet, Inc		296
	26,053	*	MiddleBrook Pharmaceuticals, Inc		30
	14,800		Minerals Technologies, Inc		704
	12,466	*	Molecular Insight Pharmaceuticals, Inc		69
	26,592	*	Momenta Pharmaceuticals, Inc		282
	421,929		Monsanto Co		32,658
	122,851		Mosaic Co		5,905
	233,723	*	Mylan Laboratories, Inc		3,742
	18,274	*	Myriad Pharmaceuticals, Inc		107
	40,164	*	Nabi Biopharmaceuticals		144
	108,109		Nalco Holding Co		2,215
	8,950	*	Nanosphere, Inc		64
	41,255	*	NBTY, Inc		1,633
	26,156	*	Neurocrine Biosciences, Inc		80
	7,464	*	NeurogesX, Inc		60
	7,956		NewMarket Corp		740
	4,943		NL Industries, Inc		33
	69,550	*	Novavax, Inc		275
	34,351	*	NPS Pharmaceuticals, Inc		138
	8,067	*	Nutraceutical International Corp		91
	12,855	*	Obagi Medical Products, Inc		149
	63,038		Olin Corp		1,099
	23,303	*	OM Group, Inc		708
	32,453	*	Omnova Solutions, Inc		210
	3,003	*	OncoGenex Pharmaceutical, Inc		108
	48,332	*	Onyx Pharmaceuticals, Inc		1,449
	29,666	*	Opko Health, Inc		68
	22,266	*	Optimer Pharmaceuticals, Inc		301
	30,922	*	OraSure Technologies, Inc		90
	23,670	*	Orexigen Therapeutics, Inc		233
	44,755	*	OSI Pharmaceuticals, Inc		1,580
	12,630	*	Osiris Therapeutics, Inc		84
	21,868	*	OXiGENE, Inc		31
	102,451	*	Pactiv Corp		2,669
	24,948	*	Pain Therapeutics, Inc		126
	26,028	*	Par Pharmaceutical Cos, Inc		560
	42,468	*	Parexel International Corp		577

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	89,667		PDL BioPharma, Inc	$	707
	60,547		Perrigo Co		2,058
	22,927		PetMed Express, Inc		432
	5,215,281		Pfizer, Inc		86,313
	16,121	*	Pharmasset, Inc		341
	22,253	*	PharMerica Corp		413
	67,684	*	PolyOne Corp		451
	18,100	*	Poniard Pharmaceuticals, Inc		135
	15,548	*	Pozen, Inc		114
	126,967		PPG Industries, Inc		7,391
	237,835		Praxair, Inc		19,430
	32,300	*	Prestige Brands Holdings, Inc		227
	2,249,736		Procter & Gamble Co		130,306
	15,641	*	Progenics Pharmaceuticals, Inc		82
	27,360	*	Protalix BioTherapeutics, Inc		226
	39,281	*	Questcor Pharmaceuticals, Inc		217
	21,781	*	Quidel Corp		354
	6,770	*	Repros Therapeutics, Inc		6
	15,116	*	Revlon, Inc (Class A)		73
	37,713	*	Rockwood Holdings, Inc		776
	98,223		RPM International, Inc		1,816
	38,461	*	Salix Pharmaceuticals Ltd		818
	40,020	*	Santarus, Inc		132
	1,263,333		Schering-Plough Corp		35,689
	28,586	*	Sciclone Pharmaceuticals, Inc		122
	34,325		Scotts Miracle-Gro Co (Class A)		1,474
	36,251		Sensient Technologies Corp		1,007
	83,880	*	Sepracor, Inc		1,921
	77,387		Sherwin-Williams Co		4,655
	19,701	*	SIGA Technologies, Inc		155
	95,097		Sigma-Aldrich Corp		5,133
	91,478	*	Solutia, Inc		1,059
	47,540	*	Spectrum Pharmaceuticals, Inc		320
	77,753	*	StemCells, Inc		127
	5,500		Stepan Co		330
	6,322	*	Sucampo Pharmaceuticals, Inc (Class A)		37
	44,629	*	SuperGen, Inc		119
	13,627	*	SurModics, Inc		335
	11,524	*	Synta Pharmaceuticals Corp		36
	41,591	*	Theravance, Inc		609
	21,072	*	Ulta Salon Cosmetics & Fragrance, Inc		348
	32,716	*	Unifi, Inc		105
	36,852	*	United Therapeutics Corp		1,805
	6,878	*	USANA Health Sciences, Inc		235
	93,574	*	USEC, Inc		439
	52,808	*	Valeant Pharmaceuticals International		1,482

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	75,915		Valspar Corp	$	2,088
	30,018	*	Vanda Pharmaceuticals, Inc		349
	132,437	*	Vertex Pharmaceuticals, Inc		5,019
	26,873	*	Vical, Inc		114
	65,329	*	Viropharma, Inc		628
	82,103	*	Watson Pharmaceuticals, Inc		3,008
	15,532		Westlake Chemical Corp		399
	53,589	*	WR Grace & Co		1,165
	1,028,845		Wyeth		49,981
	22,676	*	Xenoport, Inc		481
	26,437	*	Zymogenetics, Inc		160
			TOTAL CHEMICALS AND ALLIED PRODUCTS		1,069,434
COAL MINING - 0.25%
	93,494	*	Alpha Natural Resources, Inc		3,282
	125,706		Arch Coal, Inc		2,782
	139,379		Consol Energy, Inc		6,286
	80,098	*	International Coal Group, Inc		323
	21,382	*	James River Coal Co		409
	66,819		Massey Energy Co		1,864
	206,792		Peabody Energy Corp		7,696
	6,846	*	Westmoreland Coal Co		56
			TOTAL COAL MINING		22,698
COMMUNICATIONS - 4.29%
	9,532	*	AboveNet, Inc		465
	42,374		Adtran, Inc		1,040
	39,332		Alaska Communications Systems Group, Inc		364
	309,336	*	American Tower Corp (Class A)		11,260
	21,897	*	Anixter International, Inc		878
	45,147	*	Aruba Networks, Inc		399
	4,558,698		AT&T, Inc		123,131
	6,765		Atlantic Tele-Network, Inc		361
	10,900	*	Audiovox Corp (Class A)		75
	37,143	*	Brightpoint, Inc		325
	182,467		Cablevision Systems Corp (Class A)		4,334
	20,132	*	Cbeyond Communications, Inc		325
	465,855		CBS Corp (Class B)		5,614
	65,474	*	Centennial Communications Corp		522
	27,491	*	Central European Media Enterprises Ltd (Class A)		942
	229,791		CenturyTel, Inc		7,721
	168,115	*	Cincinnati Bell, Inc		588
	48,356	*	Clearwire Corp (Class A)		393
	2,222,829		Comcast Corp (Class A)		37,543
	15,026		Consolidated Communications Holdings, Inc		241
	222,942	*	Crown Castle International Corp		6,991

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	13,062	*	Crown Media Holdings, Inc (Class A)	$	20
	27,453	*	CTC Media, Inc		432
	10,751		D&E Communications, Inc		124
	13,694	*	DG FastChannel, Inc		287
	11,283	*	DigitalGlobe, Inc		252
	355,446	*	DIRECTV Group, Inc		9,803
	154,279	*	DISH Network Corp (Class A)		2,971
	29,100	*	Equinix, Inc		2,677
	77,956		Fairpoint Communications, Inc		32
	5,404		Fisher Communications, Inc		98
	239,523		Frontier Communications Corp		1,806
	38,028	*	General Communication, Inc (Class A)		261
	16,043	*	GeoEye, Inc		430
	23,031	*	Global Crossing Ltd		329
	61,616		Global Payments, Inc		2,877
	10,027		HickoryTech Corp		86
	6,874	*	Hughes Communications, Inc		209
	74,558	*	IAC/InterActiveCorp		1,505
	23,311	*	Ibasis, Inc		49
	19,932	*	inContact, Inc		59
	28,194		Iowa Telecommunications Services, Inc		355
	11,781	*	iPCS, Inc		205
	34,679	*	j2 Global Communications, Inc		798
	18,344	*	Knology, Inc		179
	45,089	*	Leap Wireless International, Inc		881
	1,248,110	*	Level 3 Communications, Inc		1,735
	204,161	*	Liberty Global, Inc (Class A)		4,608
	62,143	*	Liberty Media Corp - Capital (Series A)		1,300
	400,328	*	Liberty Media Corp - Entertainment (Series A)		12,454
	466,171	*	Liberty Media Holding Corp (Interactive A)		5,114
	17,509	*	Lin TV Corp (Class A)		83
	14,920	*	Lodgenet Entertainment Corp		113
	39,968	*	Mastec, Inc		486
	36,987	*	Mediacom Communications Corp (Class A)		213
	194,234	*	MetroPCS Communications, Inc		1,818
	55,661	*	NeuStar, Inc (Class A)		1,258
	25,073	*	Neutral Tandem, Inc		571
	127,947	*	NII Holdings, Inc (Class B)		3,836
	26,247	*	Novatel Wireless, Inc		298
	23,518		NTELOS Holdings Corp		415
	89,041	*	PAETEC Holding Corp		345
	1,801		Preformed Line Products Co		72
	1,129,855		Qwest Communications International, Inc		4,305
	27,120	*	RCN Corp		252
	26,729	*	SAVVIS, Inc		423
	89,246	*	SBA Communications Corp (Class A)		2,412

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	68,393		Scripps Networks Interactive (Class A)	$	2,527
	18,151		Shenandoah Telecom Co		326
	34,573		Sinclair Broadcast Group, Inc (Class A)		124
	2,159,173	*	Sprint Nextel Corp		8,529
	10,917	*	SureWest Communications		136
	14,575	*	Switch & Data Facilities Co, Inc		198
	52,280	*	Syniverse Holdings, Inc		915
	29,873	*	TeleCommunication Systems, Inc (Class A)		250
	69,545		Telephone & Data Systems, Inc		2,157
	40,863	*	Terremark Worldwide, Inc		254
	272,112		Time Warner Cable, Inc		11,725
	84,201	*	TiVo, Inc		872
	12,229	*	US Cellular Corp		478
	18,421		USA Mobility, Inc		237
	2,198,539		Verizon Communications, Inc		66,550
	422,253	*	Viacom, Inc (Class B)		11,840
	39,300	*	Virgin Mobile USA, Inc (Class A)		197
	338,346		Windstream Corp		3,427
			TOTAL COMMUNICATIONS		383,090
DEPOSITORY INSTITUTIONS - 7.40%
	11,459		1st Source Corp		187
	17,560		Abington Bancorp, Inc		136
	3,251		Alliance Financial Corp		88
	4,510		American National Bankshares, Inc		98
	7,966		Ameris Bancorp		57
	4,648		Ames National Corp		112
	6,527		Arrow Financial Corp		178
	100,185		Associated Banc-Corp		1,144
	70,950		Astoria Financial Corp		783
	1,876		Auburn National Bancorporation, Inc		46
	5,016		Bancfirst Corp		185
	19,277		Banco Latinoamericano de Exportaciones S.A. (Class E)		274
	2,914		Bancorp Rhode Island, Inc		73
	65,819		Bancorpsouth, Inc		1,607
	41,404		Bank Mutual Corp		366
	6,673,069		Bank of America Corp		112,908
	37,476		Bank of Hawaii Corp		1,557
	2,380		Bank of Kentucky Financial Corp		50
	3,864		Bank of Marin Bancorp		121
	924,946		Bank of New York Mellon Corp		26,814
	11,948		Bank of the Ozarks, Inc		317
	17,629		BankFinancial Corp		169
	8,647		Banner Corp		24
	2,271		Bar Harbor Bankshares		77
	529,848		BB&T Corp		14,433

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,421	*	Beneficial Mutual Bancorp, Inc	$	214
	10,481		Berkshire Hills Bancorp, Inc		230
	16,813		BOK Financial Corp		779
	52,442		Boston Private Financial Holdings, Inc		341
	4,741		Bridge Bancorp, Inc		115
	48,082		Brookline Bancorp, Inc		467
	4,771		Bryn Mawr Bank Corp		83
	5,527		Camden National Corp		183
	9,158		Capital City Bank Group, Inc		130
	16,284		Capitol Federal Financial		536
	18,053		Cardinal Financial Corp		149
	6,400		Cass Information Systems, Inc		191
	36,547		Cathay General Bancorp		296
	9,062		Center Bancorp, Inc		68
	6,947		Centerstate Banks of Florida, Inc		55
	24,035		Central Pacific Financial Corp		61
	2,883		Century Bancorp, Inc		63
	16,601		Chemical Financial Corp		362
	5,074	*	Chicopee Bancorp, Inc		67
	11,693,806		Citigroup, Inc		56,598
	6,398		Citizens & Northern Corp		95
	3,016		Citizens Holding Co		80
	54,766	*	Citizens Republic Bancorp, Inc		42
	12,921		City Holding Co		385
	32,999		City National Corp		1,285
	8,907		Clifton Savings Bancorp, Inc		87
	6,672		CNB Financial Corp		115
	10,291		CoBiz, Inc		51
	21,548		Columbia Banking System, Inc		357
	115,773		Comerica, Inc		3,435
	47,558		Commerce Bancshares, Inc		1,771
	25,190		Community Bank System, Inc		460
	11,562		Community Trust Bancorp, Inc		303
	40,626		Cullen/Frost Bankers, Inc		2,098
	67,239		CVB Financial Corp		510
	19,824		Dime Community Bancshares		227
	17,386	*	Dollar Financial Corp		279
	7,486	*	Eagle Bancorp, Inc		72
	70,590		East West Bancorp, Inc		586
	3,785		Enterprise Bancorp, Inc		48
	5,234		Enterprise Financial Services Corp		48
	6,988		ESB Financial Corp		94
	12,436		ESSA Bancorp, Inc		164
	36,402	*	Euronet Worldwide, Inc		875
	4,534		Farmers Capital Bank Corp		81
	610,412		Fifth Third Bancorp		6,183

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,979		Financial Institutions, Inc	$	80
	9,860		First Bancorp		178
	78,912		First Bancorp (Puerto Rico)		241
	6,485		First Bancorp, Inc		121
	16,258		First Busey Corp		76
	5,016		First Citizens Bancshares, Inc (Class A)		798
	65,852		First Commonwealth Financial Corp		374
	6,565		First Community Bancshares, Inc		83
	6,428		First Defiance Financial Corp		96
	39,758		First Financial Bancorp		479
	16,578		First Financial Bankshares, Inc		820
	8,954		First Financial Corp		274
	8,300		First Financial Holdings, Inc		133
	16,505		First Financial Northwest, Inc		96
	2,916		First Financial Service Corp		39
	167,679	*	First Horizon National Corp		2,218
	12,330		First Merchants Corp		86
	34,833		First Midwest Bancorp, Inc		393
	119,487		First Niagara Financial Group, Inc		1,473
	4,191		First of Long Island Corp		111
	5,157		First South Bancorp, Inc		59
	65,561		FirstMerit Corp		1,248
	31,002	*	Flagstar Bancorp, Inc		32
	19,779		Flushing Financial Corp		225
	87,796		FNB Corp		624
	4,305 *		Fox Chase Bancorp, Inc		43
	127,918		Fulton Financial Corp		941
	8,476		German American Bancorp, Inc		131
	46,200		Glacier Bancorp, Inc		690
	7,809		Great Southern Bancorp, Inc		185
	40,600	*	Guaranty Bancorp		60
	13,866		Hampton Roads Bankshares, Inc		40
	19,896		Hancock Holding Co		747
	29,113		Harleysville National Corp		155
	10,342		Heartland Financial USA, Inc		153
	4,346	*	Heritage Financial Corp		57
	6,749	*	Home Bancorp, Inc		82
	8,842		Home Bancshares, Inc		194
	12,641		Home Federal Bancorp, Inc		144
	363,114		Hudson City Bancorp, Inc		4,775
	550,459		Huntington Bancshares, Inc		2,593
	16,966		IBERIABANK Corp		773
	17,904		Independent Bank Corp		396
	40,567		International Bancshares Corp		662
	37,852	*	Investors Bancorp, Inc		402
	2,899,097		JPMorgan Chase & Co		127,037

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,732		Kearny Financial Corp	$	154
	679,791		Keycorp		4,419
	13,792		Lakeland Bancorp, Inc		103
	8,565		Lakeland Financial Corp		177
	5,980		Legacy Bancorp, Inc		63
	58,749		M&T Bank Corp		3,661
	11,504		MainSource Financial Group, Inc		78
	283,511		Marshall & Ilsley Corp		2,288
	38,744		MB Financial, Inc		812
	3,784		Merchants Bancshares, Inc		81
	7,250	*	Meridian Interstate Bancorp, Inc		62
	69,182	*	Metavante Technologies, Inc		2,385
	3,556		Midsouth Bancorp, Inc		47
	15,140		Nara Bancorp, Inc		105
	1,893		NASB Financial, Inc		50
	5,351		National Bankshares, Inc		136
	97,609		National Penn Bancshares, Inc		596
	27,027		NBT Bancorp, Inc		609
	24,010	*	Net 1 UEPS Technologies, Inc		503
	264,683		New York Community Bancorp, Inc		3,023
	85,685		NewAlliance Bancshares, Inc		917
	4,865		Northeast Community Bancorp, Inc		36
	186,199		Northern Trust Corp		10,829
	14,313		Northfield Bancorp, Inc		183
	4,676		Northrim BanCorp, Inc		71
	12,217		Northwest Bancorp, Inc		279
	1,433		Norwood Financial Corp		45
	6,098		OceanFirst Financial Corp		71
	3,056		Ohio Valley Banc Corp		81
	67,288		Old National Bancorp		754
	9,237		Old Second Bancorp, Inc		53
	22,798		Oriental Financial Group, Inc		290
	8,236		Oritani Financial Corp		112
	3,841		Orrstown Financial Services, Inc		148
	33,369		Pacific Capital Bancorp		48
	7,335		Pacific Continental Corp		77
	22,250		PacWest Bancorp		424
	9,214		Park National Corp		538
	6,295		Peapack Gladstone Financial Corp		101
	2,964		Penns Woods Bancorp, Inc		95
	3,548	*	Pennsylvania Commerce Bancorp, Inc		43
	6,808		Peoples Bancorp, Inc		89
	2,916		Peoples Financial Corp		54
	266,585		People’s United Financial, Inc		4,148
	25,469	*	Pinnacle Financial Partners, Inc		324
	355,144		PNC Financial Services Group, Inc		17,256

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	494,295		Popular, Inc	$	1,399
	15,240		Premierwest Bancorp		41
	26,868		PrivateBancorp, Inc		657
	37,342		Prosperity Bancshares, Inc		1,299
	45,191		Provident Financial Services, Inc		465
	30,181		Provident New York Bancorp		288
	2,997		Prudential Bancorp, Inc of Pennsylvania		30
	883,118		Regions Financial Corp		5,484
	15,054		Renasant Corp		224
	6,104		Republic Bancorp, Inc (Class A)		122
	5,918	*	Republic First Bancorp, Inc		27
	6,115		Rockville Financial, Inc		66
	7,271		Roma Financial Corp		90
	20,998		S&T Bancorp, Inc		272
	8,198		S.Y. Bancorp, Inc		189
	11,917		Sandy Spring Bancorp, Inc		194
	4,873	*	Santander BanCorp		48
	9,604		SCBT Financial Corp		270
	6,171		Shore Bancshares, Inc		103
	3,786		Sierra Bancorp		45
	31,262	*	Signature Bank		907
	9,660		Simmons First National Corp (Class A)		278
	11,251		Smithtown Bancorp, Inc		130
	102,277		South Financial Group, Inc		150
	9,217		Southside Bancshares, Inc		208
	9,257		Southwest Bancorp, Inc		130
	10,282		State Bancorp, Inc		87
	381,812		State Street Corp		20,083
	16,183		StellarOne Corp		239
	13,290		Sterling Bancorp		96
	66,597		Sterling Bancshares, Inc		487
	40,780		Sterling Financial Corp		82
	7,140		Suffolk Bancorp		211
	9,646	*	Sun Bancorp, Inc		51
	382,843		SunTrust Banks, Inc		8,633
	63,735		Susquehanna Bancshares, Inc		375
	25,322	*	SVB Financial Group		1,096
	293,034		Synovus Financial Corp		1,099
	98,460		TCF Financial Corp		1,284
	27,236	*	Texas Capital Bancshares, Inc		459
	67,219		TFS Financial Corp		800
	7,985	*	The Bancorp, Inc		46
	6,413		Tompkins Trustco, Inc		280
	2,692		Tower Bancorp, Inc		71
	14,640		TowneBank		187
	9,919		Trico Bancshares		163

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	62,026		Trustco Bank Corp NY	$	388
	47,449		Trustmark Corp		904
	86,663		UCBH Holdings, Inc		69
	24,432		UMB Financial Corp		988
	66,824		Umpqua Holdings Corp		708
	8,916		Union Bankshares Corp		111
	30,662		United Bankshares, Inc		601
	30,571		United Community Banks, Inc		153
	12,678		United Financial Bancorp, Inc		147
	4,738		United Security Bancshares		105
	9,080		Univest Corp of Pennsylvania		197
	1,466,249		US Bancorp		32,052
	112,969		Valley National Bancorp		1,388
	7,559		ViewPoint Financial Group		106
	7,186		Washington Banking Co		67
	86,710		Washington Federal, Inc		1,462
	10,818		Washington Trust Bancorp, Inc		190
	7,507	*	Waterstone Financial, Inc		38
	52,669		Webster Financial Corp		657
	3,667,701		Wells Fargo & Co		103,356
	19,012		WesBanco, Inc		294
	11,970		West Bancorporation, Inc		59
	23,845		Westamerica Bancorporation		1,240
	30,987	*	Western Alliance Bancorp		196
	542,886		Western Union Co		10,271
	23,121		Westfield Financial, Inc		196
	53,084		Whitney Holding Corp		506
	4,209		Wilber Corp		35
	51,413		Wilmington Trust Corp		730
	9,638		Wilshire Bancorp, Inc		71
	17,249		Wintrust Financial Corp		482
	4,467		WSFS Financial Corp		119
	8,510		Yadkin Valley Financial Corp		40
	99,375		Zions Bancorporation		1,786
			TOTAL DEPOSITORY INSTITUTIONS		658,215
EATING AND DRINKING PLACES - 1.03%
	18,260	*	AFC Enterprises		154
	10,622	*	Benihana, Inc		61
	13,771	*	BJ’s Restaurants, Inc		206
	24,666		Bob Evans Farms, Inc		717
	78,146		Brinker International, Inc		1,229
	13,602	*	Buffalo Wild Wings, Inc		566
	80,218		Burger King Holdings, Inc		1,411
	20,543	*	California Pizza Kitchen, Inc		321
	8,099	*	Carrols Restaurant Group, Inc		61

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	17,289		CBRL Group, Inc	$	595
	17,642	*	CEC Entertainment, Inc		456
	46,024	*	Cheesecake Factory		852
	24,449	*	Chipotle Mexican Grill, Inc (Class A)		2,373
	39,583		CKE Restaurants, Inc		415
	105,300		Darden Restaurants, Inc		3,594
	75,312	*	Denny’s Corp		200
	2,189	*	Diedrich Coffee, Inc		53
	13,678		DineEquity, Inc		339
	30,059	*	Domino’s Pizza, Inc		266
	1,620		Frisch’s Restaurants, Inc		42
	44,170	*	Jack in the Box, Inc		905
	39,881	*	Krispy Kreme Doughnuts, Inc		142
	8,401	*	Landry’s Restaurants, Inc		88
	14,864	*	Luby’s, Inc		62
	11,950	*	McCormick & Schmick’s Seafood Restaurants, Inc		89
	851,205		McDonald’s Corp		48,579
	14,289		O’Charleys, Inc		134
	18,183	*	Papa John’s International, Inc		447
	18,084	*	PF Chang’s China Bistro, Inc		614
	11,853	*	Red Robin Gourmet Burgers, Inc		242
	58,476	*	Ruby Tuesday, Inc		492
	10,929	*	Ruth’s Chris Steak House, Inc		46
	45,772	*	Sonic Corp		506
	567,806	*	Starbucks Corp		11,725
	19,171	*	Steak N Shake Co		226
	37,299	*	Texas Roadhouse, Inc (Class A)		396
	282,986		Wendy’s/Arby’s Group, Inc (Class A)		1,339
	356,577		Yum! Brands, Inc		12,038
			TOTAL EATING AND DRINKING PLACES		91,981
EDUCATIONAL SERVICES - 0.23%
	13,862	*	American Public Education, Inc		482
	103,701	*	Apollo Group, Inc (Class A)		7,639
	10,806	*	Bridgepoint Education, Inc		165
	55,966	*	Career Education Corp		1,364
	23,045	*	ChinaCast Education Corp		168
	62,840	*	Corinthian Colleges, Inc		1,166
	48,586		DeVry, Inc		2,689
	12,064	*	Grand Canyon Education, Inc		215
	29,475	*	ITT Educational Services, Inc		3,255
	4,866	*	K12, Inc		80
	6,272	*	Learning Tree International, Inc		71
	7,293	*	Lincoln Educational Services Corp		167
	9,555	*	Princeton Review, Inc		40
	11,133		Strayer Education, Inc		2,423

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,401	*	Universal Technical Institute, Inc	$	382
			TOTAL EDUCATIONAL SERVICES		20,306
ELECTRIC, GAS, AND SANITARY SERVICES - 4.29%
	510,560	*	AES Corp		7,566
	60,316		AGL Resources, Inc		2,127
	129,395		Allegheny Energy, Inc		3,432
	22,911		Allete, Inc		769
	83,951		Alliant Energy Corp		2,338
	182,647		Ameren Corp		4,617
	14,202		American Ecology Corp		266
	369,975		American Electric Power Co, Inc		11,466
	13,797		American States Water Co		499
	46,816		American Water Works Co, Inc		934
	104,679		Aqua America, Inc		1,847
	4,909		Artesian Resources Corp		83
	70,089		Atmos Energy Corp		1,975
	46,278		Avista Corp		936
	29,085		Black Hills Corp		732
	15,365		California Water Service Group		598
	256,909	*	Calpine Corp		2,960
	301,288		Centerpoint Energy, Inc		3,745
	10,819		Central Vermont Public Service Corp		209
	13,300		CH Energy Group, Inc		589
	4,829		Chesapeake Utilities Corp		150
	30,062	*	Clean Energy Fuels Corp		433
	17,301	*	Clean Harbors, Inc		973
	48,084		Cleco Corp		1,206
	171,136		CMS Energy Corp		2,293
	6,221		Connecticut Water Service, Inc		139
	213,598		Consolidated Edison, Inc		8,745
	10,306		Consolidated Water Co, Inc		168
	139,704		Constellation Energy Group, Inc		4,522
	99,005	*	Covanta Holding Corp		1,683
	28,820		Crosstex Energy, Inc		152
	456,212		Dominion Resources, Inc		15,739
	91,544		DPL, Inc		2,389
	126,157		DTE Energy Co		4,433
	997,012		Duke Energy Corp		15,693
	375,752	*	Dynegy, Inc (Class A)		958
	251,382		Edison International		8,441
	535,470		El Paso Corp		5,526
	35,119	*	El Paso Electric Co		621
	29,343		Empire District Electric Co		531
	54,955		Energen Corp		2,369
	57,426		EnergySolutions, Inc		529

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,773	*	EnerNOC, Inc	$	390
	151,951		Entergy Corp		12,135
	509,769		Exelon Corp		25,295
	236,011		FirstEnergy Corp		10,790
	4,933		Florida Public Utilities Co		60
	317,743		FPL Group, Inc		17,549
	103,717		Great Plains Energy, Inc		1,862
	68,666		Hawaiian Electric Industries, Inc		1,244
	36,600		Idacorp, Inc		1,054
	57,780		Integrys Energy Group, Inc		2,074
	38,559		ITC Holdings Corp		1,753
	18,300		Laclede Group, Inc		589
	140,890		MDU Resources Group, Inc		2,938
	18,500		MGE Energy, Inc		675
	9,765		Middlesex Water Co		147
	110,337	*	Mirant Corp		1,813
	54,213		National Fuel Gas Co		2,483
	33,020		New Jersey Resources Corp		1,199
	34,619		Nicor, Inc		1,267
	208,593		NiSource, Inc		2,897
	132,666		Northeast Utilities		3,149
	21,251		Northwest Natural Gas Co		885
	30,516		NorthWestern Corp		746
	202,929	*	NRG Energy, Inc		5,721
	82,689		NSTAR		2,631
	176,210		NV Energy, Inc		2,042
	73,489		OGE Energy Corp		2,431
	80,701		Oneok, Inc		2,955
	15,003		Ormat Technologies, Inc		612
	29,407		Otter Tail Corp		704
	3,325		Pennichuck Corp		72
	168,153		Pepco Holdings, Inc		2,502
	39,942	*	Perma-Fix Environmental Services		93
	285,710		PG&E Corp		11,568
	17,372	*	Pico Holdings, Inc		579
	56,492		Piedmont Natural Gas Co, Inc		1,352
	12,323	*	Pike Electric Corp		148
	78,286		Pinnacle West Capital Corp		2,569
	64,221		PNM Resources, Inc		750
	60,898		Portland General Electric Co		1,201
	290,142		PPL Corp		8,803
	215,842		Progress Energy, Inc		8,431
	34,100	*	Progress Energy, Inc (CVO)		8
	391,468		Public Service Enterprise Group, Inc		12,308
	133,375		Questar Corp		5,010
	269,219	*	Reliant Energy, Inc		1,922

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	246,747		Republic Services, Inc	$	6,556
	10,949		Resource America, Inc (Class A)		53
	94,530		SCANA Corp		3,299
	188,830		Sempra Energy		9,406
	10,436		SJW Corp		238
	24,251		South Jersey Industries, Inc		856
	607,175		Southern Co		19,229
	85,109		Southern Union Co		1,769
	34,400		Southwest Gas Corp		880
	16,033		Southwest Water Co		79
	66,615	*	Stericycle, Inc		3,227
	163,004		TECO Energy, Inc		2,295
	85,402		UGI Corp		2,140
	26,118		UIL Holdings Corp		689
	27,775		Unisource Energy Corp		854
	11,594		Unitil Corp		260
	63,379		Vectren Corp		1,460
	63,647	*	Waste Connections, Inc		1,837
	381,725		Waste Management, Inc		11,384
	19,253	*	Waste Services, Inc		89
	82,396		Westar Energy, Inc		1,608
	42,625		WGL Holdings, Inc		1,413
	442,665		Williams Cos, Inc		7,910
	90,488		Wisconsin Energy Corp		4,087
	353,988		Xcel Energy, Inc		6,811
	9,006		York Water Co		125
			TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		381,341
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.55%
	30,135	*	Acme Packet, Inc		302
	21,535	*	Actel Corp		262
	33,751		Acuity Brands, Inc		1,087
	82,321	*	Adaptec, Inc		275
	76,254	*	ADC Telecommunications, Inc		636
	25,828	*	Advanced Analogic Technologies, Inc		103
	49,842	*	Advanced Battery Technologies, Inc		216
	23,059	*	Advanced Energy Industries, Inc		328
	429,150	*	Advanced Micro Devices, Inc		2,429
	18,258	*	Airvana, Inc		124
	228,714		Altera Corp		4,691
	33,594	*	American Superconductor Corp		1,127
	81,868		Ametek, Inc		2,858
	86,945	*	Amkor Technology, Inc		598
	131,247		Amphenol Corp (Class A)		4,946
	47,982	*	Anadigics, Inc		226
	226,099		Analog Devices, Inc		6,236

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	688,254	*	Apple Computer, Inc	$	127,581
	51,846	*	Applied Micro Circuits Corp		518
	12,026		Applied Signal Technology, Inc		280
	94,272	*	Arris Group, Inc		1,226
	11,879	*	Ascent Solar Technologies, Inc		90
	47,603	*	Atheros Communications, Inc		1,263
	341,960	*	Atmel Corp		1,433
	24,963	*	ATMI, Inc		453
	115,135	*	Avnet, Inc		2,990
	34,410		AVX Corp		411
	10,559	*	AZZ, Inc		424
	35,945		Baldor Electric Co		983
	7,316		Bel Fuse, Inc (Class B)		139
	51,432	*	Benchmark Electronics, Inc		926
	24,403	*	BigBand Networks, Inc		98
	379,519	*	Broadcom Corp (Class A)		11,647
	19,382	*	Ceradyne, Inc		355
	14,775	*	Ceva, Inc		159
	27,817	*	Checkpoint Systems, Inc		457
	22,550	*	China BAK Battery, Inc		112
	24,273	*	China Security & Surveillance Technology, Inc		173
	70,799	*	Ciena Corp		1,153
	4,456,504	*	Cisco Systems, Inc		104,905
	21,353	*	Comtech Telecommunications Corp		709
	5,037	*	CPI International, Inc		56
	79,781	*	Cree, Inc		2,932
	23,637		CTS Corp		220
	12,848		Cubic Corp		507
	119,631	*	Cypress Semiconductor Corp		1,236
	10,171	*	DDi Corp		43
	24,448	*	Diodes, Inc		442
	40,199	*	Dolby Laboratories, Inc (Class A)		1,535
	21,955	*	DSP Group, Inc		179
	15,044	*	DTS, Inc		412
	128,054		Eaton Corp		7,247
	32,176	*	EchoStar Corp (Class A)		594
	23,062	*	Electro Scientific Industries, Inc		309
	52,713	*	EMCORE Corp		69
	10,542	*	EMS Technologies, Inc		219
	53,893	*	Energizer Holdings, Inc		3,575
	33,752	*	Energy Conversion Devices, Inc		391
	30,981	*	EnerSys		685
	41,562	*	Entropic Communications, Inc		114
	143,685	*	Evergreen Solar, Inc		276
	25,111	*	Exar Corp		185
	46,087	*	Exide Technologies		367

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	95,996	*	Fairchild Semiconductor International, Inc	$	982
	39,969	*	First Solar, Inc		6,110
	19,315		Franklin Electric Co, Inc		554
	46,577	*	FuelCell Energy, Inc		199
	8,168,418		General Electric Co		134,125
	14,375	*	Globecomm Systems, Inc		105
	12,104	*	GP Strategies Corp		91
	92,133	*	GrafTech International Ltd		1,354
	16,954	*	Greatbatch, Inc		381
	13,134	*	GSI Technology, Inc		52
	23,300	*	GT Solar International, Inc		135
	47,147		Harman International Industries, Inc		1,597
	68,074	*	Harmonic, Inc		455
	101,554		Harris Corp		3,818
	42,057	*	Harris Stratex Networks, Inc (Class A)		294
	21,557	*	Helen of Troy Ltd		419
	72,515	*	Hexcel Corp		830
	17,117	*	Hittite Microwave Corp		630
	21,588		Imation Corp		200
	67,383	*	Infinera Corp		536
	124,419	*	Integrated Device Technology, Inc		841
	4,315,480		Intel Corp		84,454
	17,151	*	Intellon Corp		122
	34,659	*	InterDigital, Inc		803
	54,670	*	International Rectifier Corp		1,066
	94,162		Intersil Corp (Class A)		1,442
	17,746	*	IPG Photonics Corp		270
	12,510	*	iRobot Corp		154
	16,725		IXYS Corp		142
	161,842	*	JDS Uniphase Corp		1,151
	90,360		L-3 Communications Holdings, Inc		7,258
	81,127	*	Lattice Semiconductor Corp		183
	32,522		Lincoln Electric Holdings, Inc		1,543
	173,328		Linear Technology Corp		4,789
	17,104	*	Littelfuse, Inc		449
	8,072	*	Loral Space & Communications, Inc		222
	12,960		LSI Industries, Inc		86
	494,222	*	LSI Logic Corp		2,713
	394,842	*	Marvell Technology Group Ltd		6,392
	236,420		Maxim Integrated Products, Inc		4,289
	17,242	*	Maxwell Technologies, Inc		318
	172,909	*	MEMC Electronic Materials, Inc		2,875
	10,978	*	MEMSIC, Inc		41
	13,858	*	Mercury Computer Systems, Inc		137
	28,385		Methode Electronics, Inc		246
	40,439		Micrel, Inc		330

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	143,138		Microchip Technology, Inc	$	3,793
	647,147	*	Micron Technology, Inc		5,307
	62,654	*	Microsemi Corp		989
	45,471	*	Microtune, Inc		83
	60,310	*	Microvision, Inc		332
	33,720	*	MIPS Technologies, Inc		127
	101,907		Molex, Inc		2,128
	25,869	*	Monolithic Power Systems, Inc		607
	32,329	*	Moog, Inc (Class A)		954
	1,775,323		Motorola, Inc		15,250
	6,600	*	Multi-Fineline Electronix, Inc		189
	3,938		National Presto Industries, Inc		341
	178,658		National Semiconductor Corp		2,549
	255,299	*	NetApp, Inc		6,811
	13,186	*	Netlogic Microsystems, Inc		593
	72,689	*	Novellus Systems, Inc		1,525
	3,184	*	NVE Corp		169
	418,619	*	Nvidia Corp		6,292
	39,050	*	Omnivision Technologies, Inc		636
	321,621	*	ON Semiconductor Corp		2,653
	63,876	*	Openwave Systems, Inc		166
	15,398	*	Oplink Communications, Inc		224
	13,224	*	OpNext, Inc		39
	6,196	*	Orion Energy Systems, Inc		19
	10,891	*	OSI Systems, Inc		199
	18,452		Park Electrochemical Corp		455
	16,717	*	Parkervision, Inc		68
	19,298	*	Pericom Semiconductor Corp		189
	29,346	*	Photronics, Inc		139
	37,039		Plantronics, Inc		993
	31,345	*	Plexus Corp		826
	26,715	*	PLX Technology, Inc		90
	170,759	*	PMC - Sierra, Inc		1,632
	64,770	*	Polycom, Inc		1,733
	21,500	*	Polypore International, Inc		278
	5,761	*	Powell Industries, Inc		221
	20,115		Power Integrations, Inc		670
	51,516	*	Power-One, Inc		100
	96,435	*	Powerwave Technologies, Inc		154
	92,060	*	QLogic Corp		1,583
	1,280,866		Qualcomm, Inc		57,613
	80,610	*	Rambus, Inc		1,403
	11,399		Raven Industries, Inc		305
	26,941		Regal-Beloit Corp		1,231
	213,104	*	RF Micro Devices, Inc		1,157
	12,342	*	Rogers Corp		370

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,394	*	Rubicon Technology, Inc	$	139
	38,773	*	SatCon Technology Corp		66
	21,571	*	Seachange International, Inc		162
	47,571	*	Semtech Corp		809
	31,292	*	ShoreTel, Inc		244
	56,384	*	Silicon Image, Inc		137
	34,296	*	Silicon Laboratories, Inc		1,590
	72,899	*	Silicon Storage Technology, Inc		176
	128,457	*	Skyworks Solutions, Inc		1,701
	35,494	*	Smart Modular Technologies WWH, Inc		169
	9,719	*	Spectrum Control, Inc		83
	18,903	*	Standard Microsystems Corp		439
	30,081	*	Starent Networks Corp		765
	10,374	*	Stoneridge, Inc		73
	74,060	*	Sunpower Corp (Class A)		2,214
	8,595	*	Supertex, Inc		258
	148,619	*	Sycamore Networks, Inc		449
	35,188	*	Symmetricom, Inc		182
	26,694	*	Synaptics, Inc		673
	38,313		Technitrol, Inc		353
	10,550	*	Techwell, Inc		116
	50,795	*	Tekelec		835
	30,469		Teleflex, Inc		1,472
	303,944	*	Tellabs, Inc		2,103
	36,930	*	Tessera Technologies, Inc		1,030
	984,216		Texas Instruments, Inc		23,316
	41,326	*	Thomas & Betts Corp		1,243
	40,125	*	Trident Microsystems, Inc		104
	121,131	*	Triquint Semiconductor, Inc		935
	32,309	*	TTM Technologies, Inc		371
	9,064	*	Ultralife Corp		55
	22,074	*	Universal Display Corp		264
	8,900	*	Universal Electronics, Inc		182
	42,939	*	US Geothermal, Inc		67
	87,200	*	Utstarcom, Inc		182
	36,704	*	Valence Technology, Inc		66
	56,829	*	Varian Semiconductor Equipment Associates, Inc		1,866
	20,875	*	Viasat, Inc		555
	12,845		Vicor Corp		99
	12,385	*	Virage Logic Corp		65
	138,523	*	Vishay Intertechnology, Inc		1,094
	18,190	*	Volterra Semiconductor Corp		334
	56,606		Whirlpool Corp		3,960
	14,174	*	White Electronic Designs Corp		65
	213,685		Xilinx, Inc		5,005
	47,197	*	Zix Corp		104

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,213	*	Zoltek Cos, Inc	$	202
	42,064	*	Zoran Corp		485
			TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		761,747
ENGINEERING AND MANAGEMENT SERVICES - 0.70%
	19,818	*	Accelrys, Inc		115
	13,465	*	Advisory Board Co		339
	72,536	*	Aecom Technology Corp		1,969
	10,564	*	Affymax, Inc		252
	110,387	*	Amylin Pharmaceuticals, Inc		1,512
	68,338	*	Ariad Pharmaceuticals, Inc		152
	7,981		CDI Corp		112
	62,836	*	Celera Corp		391
	16,785	*	comScore, Inc		302
	8,356	*	Cornell Cos, Inc		188
	27,057		Corporate Executive Board Co		674
	8,400	*	CRA International, Inc		229
	19,233		Diamond Management & Technology Consultants, Inc		132
	40,474	*	Dyax Corp		145
	35,238	*	eResearch Technology, Inc		247
	87,374	*	Exelixis, Inc		557
	11,236	*	Exponent, Inc		317
	139,160		Fluor Corp		7,077
	9,375	*	Franklin Covey Co		55
	25,764	*	Furmanite Corp		111
	47,841	*	Genpact Ltd		588
	40,128	*	Gen-Probe, Inc		1,663
	64,008	*	Hewitt Associates, Inc (Class A)		2,332
	17,074	*	Hill International, Inc		121
	16,505	*	Huron Consulting Group, Inc		426
	6,713	*	ICF International, Inc		204
	53,977	*	Incyte Corp		364
	14,237	*	Infinity Pharmaceuticals, Inc		89
	95,079	*	Insmed, Inc		78
	74,058	*	Isis Pharmaceuticals, Inc		1,079
	96,009	*	Jacobs Engineering Group, Inc		4,412
	122,850		KBR, Inc		2,861
	10,294	*	Kendle International, Inc		172
	7,375		Landauer, Inc		405
	60,298	*	Lexicon Pharmaceuticals, Inc		128
	34,898	*	Luminex Corp		593
	14,380		MAXIMUS, Inc		670
	16,427	*	Maxygen, Inc		110
	175,224	*	McDermott International, Inc		4,428
	7,039	*	Michael Baker Corp		256
	73,098	*	Myriad Genetics, Inc		2,004

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	40,393	*	Navigant Consulting, Inc	$	545
	24,067	*	Omnicell, Inc		268
	249,691		Paychex, Inc		7,253
	47,888	*	Regeneron Pharmaceuticals, Inc		924
	21,650	*	Repligen Corp		108
	32,857	*	Resources Connection, Inc		561
	26,264	*	Rigel Pharmaceuticals, Inc		215
	38,631	*	RTI Biologics, Inc		168
	161,338	*	SAIC, Inc		2,830
	25,904	*	Sangamo Biosciences, Inc		213
	50,281	*	Savient Pharmaceuticals, Inc		764
	64,120	*	Seattle Genetics, Inc		900
	47,243	*	Sequenom, Inc		153
	63,956	*	Shaw Group, Inc		2,052
	8,699	*	Stanley, Inc		224
	24,068	*	Symyx Technologies, Inc		159
	7,624	*	Tejon Ranch Co		196
	47,935	*	Tetra Tech, Inc		1,272
	4,824	*	Transcend Services, Inc		84
	63,697	*	URS Corp		2,780
	64,410	*	VCA Antech, Inc		1,732
	2,793		VSE Corp		109
	33,194		Watson Wyatt & Co Holdings (Class A)		1,446
			TOTAL ENGINEERING AND MANAGEMENT SERVICES		62,815
FABRICATED METAL PRODUCTS - 0.55%
	25,734	*	Alliant Techsystems, Inc		2,003
	7,062		Ameron International Corp		494
	52,516		Aptargroup, Inc		1,962
	72,122		Ball Corp		3,549
	5,100	*	Bway Holding Co		94
	23,060	*	Chart Industries, Inc		498
	12,832		CIRCOR International, Inc		363
	86,134		Commercial Metals Co		1,542
	38,327		Crane Co		989
	124,193	*	Crown Holdings, Inc		3,378
	12,440		Dynamic Materials Corp		248
	37,869	*	Griffon Corp		381
	9,089		Gulf Island Fabrication, Inc		170
	4,401	*	Hawk Corp		60
	346,634		Illinois Tool Works, Inc		14,804
	10,094		Insteel Industries, Inc		121
	9,968	*	Ladish Co, Inc		151
	25,129	*	Mobile Mini, Inc		436
	95,877		Mueller Water Products, Inc (Class A)		525
	15,669	*	NCI Building Systems, Inc		50

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,775	*	North American Galvanizing & Coating, Inc	$	59
	123,007		Parker Hannifin Corp		6,377
	75,224		Pentair, Inc		2,221
	26,576		Quanex Building Products Corp		382
	21,540		Silgan Holdings, Inc		1,136
	29,264		Simpson Manufacturing Co, Inc		739
	5,034	*	SmartHeat, Inc		60
	40,347	*	Smith & Wesson Holding Corp		211
	43,917		Snap-On, Inc		1,527
	61,499		Stanley Works		2,626
	14,503		Sturm Ruger & Co, Inc		188
	7,928		Sun Hydraulics Corp		167
	44,785	*	Taser International, Inc		211
	9,351	*	Trimas Corp		48
	16,165		Valmont Industries, Inc		1,377
	23,144		Watts Water Technologies, Inc (Class A)		700
			TOTAL FABRICATED METAL PRODUCTS		49,847
FISHING, HUNTING, AND TRAPPING - 0.00%**
	5,153	*	HQ Sustainable Maritime Industries, Inc		45
			TOTAL FISHING, HUNTING, AND TRAPPING		45
FOOD AND KINDRED PRODUCTS - 3.80%
	20,643	*	AgFeed Industries, Inc		110
	6,818	*	American Dairy, Inc		193
	16,175	*	American Italian Pasta Co		440
	495,550		Archer Daniels Midland Co		14,480
	10,877		B&G Foods, Inc (Class A)		89
	6,482	*	Boston Beer Co, Inc (Class A)		240
	103,092		Bunge Ltd		6,455
	155,811		Campbell Soup Co		5,083
	51,442	*	Central Garden and Pet Co (Class A)		562
	4,202		Coca-Cola Bottling Co Consolidated		204
	1,786,795		Coca-Cola Co		95,950
	236,657		Coca-Cola Enterprises, Inc		5,067
	342,726		ConAgra Foods, Inc		7,430
	145,538	*	Constellation Brands, Inc (Class A)		2,205
	57,268		Corn Products International, Inc		1,633
	60,640	*	Darling International, Inc		446
	151,457		Del Monte Foods Co		1,754
	14,403		Diamond Foods, Inc		457
	193,600	*	Dr Pepper Snapple Group, Inc		5,566
	5,320		Farmer Bros Co		110
	60,388		Flowers Foods, Inc		1,588
	255,077		General Mills, Inc		16,422
	243,707		H.J. Heinz Co		9,687

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	53,236	*	Hansen Natural Corp	$	1,956
	119,986		Hershey Co		4,663
	55,610		Hormel Foods Corp		1,975
	8,158		Imperial Sugar Co		103
	11,326		J&J Snack Foods Corp		489
	90,975		J.M. Smucker Co		4,823
	197,925		Kellogg Co		9,744
	1,138,001		Kraft Foods, Inc (Class A)		29,895
	15,418		Lancaster Colony Corp		790
	23,149		Lance, Inc		598
	3,603	*	Lifeway Foods, Inc		40
	8,556	*	M&F Worldwide Corp		173
	101,909		McCormick & Co, Inc		3,459
	26,800		Mead Johnson Nutrition Co		1,209
	99,412		Molson Coors Brewing Co (Class B)		4,839
	5,604	*	National Beverage Corp		65
	13,326	*	Omega Protein Corp		65
	12,378	*	Overhill Farms, Inc		75
	12,195	*	Peet’s Coffee & Tea, Inc		344
	107,664		Pepsi Bottling Group, Inc		3,923
	44,594		PepsiAmericas, Inc		1,274
	1,201,597		PepsiCo, Inc		70,486
	43,201	*	Ralcorp Holdings, Inc		2,526
	131,096		Reynolds American, Inc		5,836
	16,068		Sanderson Farms, Inc		605
	533,701		Sara Lee Corp		5,945
	7,792	*	Seneca Foods Corp		214
	53,670	*	Smart Balance, Inc		330
	108,127	*	Smithfield Foods, Inc		1,492
	19,889		Tootsie Roll Industries, Inc		473
	23,212	*	TreeHouse Foods, Inc		828
	230,818		Tyson Foods, Inc (Class A)		2,915
	7,067	*	Zapata Corp		49
			TOTAL FOOD AND KINDRED PRODUCTS		338,372
FOOD STORES - 0.29%
	837		Arden Group, Inc (Class A)		100
	34,215	*	Great Atlantic & Pacific Tea Co, Inc		305
	8,163		Ingles Markets, Inc (Class A)		129
	507,140		Kroger Co		10,468
	22,448	*	Panera Bread Co (Class A)		1,235
	16,292	*	Pantry, Inc		255
	33,448		Ruddick Corp		890
	330,645		Safeway, Inc		6,521
	165,275		Supervalu, Inc		2,489
	5,570	*	Susser Holdings Corp		70

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	4,652		Village Super Market (Class A)	$	137
	8,834		Weis Markets, Inc		282
	83,804	*	Whole Foods Market, Inc		2,555
	41,829	*	Winn-Dixie Stores, Inc		549
			TOTAL FOOD STORES		25,985
FORESTRY - 0.09%
	61,487		Rayonier, Inc		2,515
	160,914		Weyerhaeuser Co		5,898
			TOTAL FORESTRY		8,413
FURNITURE AND FIXTURES - 0.15%
	7,057	*	Astronics Corp		66
	18,783		Ethan Allen Interiors, Inc		310
	34,198		Furniture Brands International, Inc		189
	41,802		Herman Miller, Inc		707
	45,716		Hill-Rom Holdings, Inc		996
	33,809		HNI Corp		798
	7,413		Hooker Furniture Corp		100
	18,600		Kimball International, Inc (Class B)		142
	47,219	*	Kinetic Concepts, Inc		1,746
	53,628		La-Z-Boy, Inc		464
	119,468		Leggett & Platt, Inc		2,318
	273,844		Masco Corp		3,538
	57,367	*	Sealy Corp		184
	7,908	*	Stanley Furniture Co, Inc		82
	54,705		Steelcase, Inc (Class A)		340
	57,532	*	Tempur-Pedic International, Inc		1,089
			TOTAL FURNITURE AND FIXTURES		13,069
FURNITURE AND HOME FURNISHINGS STORES - 0.28%
	201,844	*	Bed Bath & Beyond, Inc		7,577
	260,229		Best Buy Co, Inc		9,763
	126,094	*	GameStop Corp (Class A)		3,338
	16,062		Haverty Furniture Cos, Inc		190
	9,008	*	hhgregg, Inc		153
	35,963		Knoll, Inc		375
	64,355	*	Pier 1 Imports, Inc		249
	95,926		RadioShack Corp		1,589
	6,400	*	Rex Stores Corp		70
	21,617	*	Tuesday Morning Corp		90
	71,873		Williams-Sonoma, Inc		1,454
			TOTAL FURNITURE AND HOME FURNISHINGS STORES		24,848
GENERAL BUILDING CONTRACTORS - 0.19%
	1,271	*	Amrep Corp		17

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	3,890	*	Avatar Holdings, Inc	$	74
	36,219	*	Beazer Homes USA, Inc		202
	7,978		Brookfield Homes Corp		53
	4,557	*	Cavco Industries, Inc		162
	212,707		DR Horton, Inc		2,427
	40,248	*	Hovnanian Enterprises, Inc (Class A)		155
	58,687		KB Home		975
	114,490		Lennar Corp (Class A)		1,631
	16,303	*	M/I Homes, Inc		222
	17,708		McGrath RentCorp		377
	28,595		MDC Holdings, Inc		993
	24,046	*	Meritage Homes Corp		488
	4,602	*	NVR, Inc		2,933
	20,289	*	Perini Corp		432
	256,906	*	Pulte Homes, Inc		2,823
	35,106		Ryland Group, Inc		740
	95,329	*	Standard-Pacific Corp		352
	13,336	*	Team, Inc		226
	103,635	*	Toll Brothers, Inc		2,025
			TOTAL GENERAL BUILDING CONTRACTORS		17,307
GENERAL MERCHANDISE STORES - 1.87%
	34,292	*	99 Cents Only Stores		461
	65,532	*	Big Lots, Inc		1,640
	41,867	*	BJ’s Wholesale Club, Inc		1,516
	39,621		Casey’s General Stores, Inc		1,243
	8,648	*	Conn’s, Inc		98
	336,724		Costco Wholesale Corp		19,011
	41,061		Dillard’s, Inc (Class A)		579
	109,043		Family Dollar Stores, Inc		2,879
	29,664		Fred’s, Inc (Class A)		378
	170,017		JC Penney Co, Inc		5,738
	321,688		Macy’s, Inc		5,884
	17,729	*	Retail Ventures, Inc		93
	95,426	*	Saks, Inc		651
	38,145	*	Sears Holdings Corp		2,491
	17,973	*	Stein Mart, Inc		228
	580,969		Target Corp		27,120
	318,904		TJX Companies, Inc		11,847
	1,705,627		Wal-Mart Stores, Inc		83,729
			TOTAL GENERAL MERCHANDISE STORES		165,586
HEALTH SERVICES - 1.23%
	18,580	*	Alliance Imaging, Inc		105
	34,529	*	Allied Healthcare International, Inc		97
	4,568	*	Almost Family, Inc		136

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	21,596	*	Amedisys, Inc	$	942
	6,404		America Service Group, Inc		106
	9,851	*	American Dental Partners, Inc		138
	235,210		AmerisourceBergen Corp		5,264
	24,648	*	Amsurg Corp		523
	8,583	*	Assisted Living Concepts, Inc (A Shares)		178
	11,468	*	Bio-Reference Labs, Inc		394
	33,994		Brookdale Senior Living, Inc		616
	5,440	*	China Sky One Medical, Inc		72
	70,912	*	Community Health Systems, Inc		2,264
	23,514	*	Continucare Corp		71
	6,016	*	Corvel Corp		171
	50,029	*	Covance, Inc		2,709
	114,216	*	Coventry Health Care, Inc		2,280
	22,090	*	Cross Country Healthcare, Inc		206
	27,223	*	CryoLife, Inc		217
	79,964	*	DaVita, Inc		4,529
	43,917	*	Edwards Lifesciences Corp		3,070
	17,698	*	eHealth, Inc		257
	14,234	*	Emeritus Corp		312
	6,373		Ensign Group, Inc		89
	18,855	*	Enzo Biochem, Inc		133
	211,540	*	Express Scripts, Inc		16,411
	11,423	*	Genomic Health, Inc		250
	12,933	*	Genoptix, Inc		450
	22,160	*	Gentiva Health Services, Inc		554
	18,744	*	Health Grades, Inc		93
	197,006	*	Health Management Associates, Inc (Class A)		1,476
	71,500	*	Healthsouth Corp		1,118
	28,116	*	Healthways, Inc		431
	54,649	*	Immunomedics, Inc		302
	4,625	*	IPC The Hospitalist Co, Inc		145
	29,869	*	Kindred Healthcare, Inc		485
	84,285	*	Laboratory Corp of America Holdings		5,538
	11,885	*	LCA-Vision, Inc		83
	14,598	*	LHC Group, Inc		437
	41,072	*	LifePoint Hospitals, Inc		1,111
	53,547	*	Lincare Holdings, Inc		1,673
	27,118	*	Magellan Health Services, Inc		842
	209,528		McKesson Corp		12,477
	11,469	*	Medcath Corp		101
	373,402	*	Medco Health Solutions, Inc		20,654
	6,892		National Healthcare Corp		257
	76,148	*	Nektar Therapeutics		742
	15,155	*	Nighthawk Radiology Holdings, Inc		110
	16,021	*	NovaMed, Inc		73

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	25,907	*	Odyssey HealthCare, Inc	$	324
	89,050		Omnicare, Inc		2,005
	35,963	*	Pediatrix Medical Group, Inc		1,975
	81,765		Pharmaceutical Product Development, Inc		1,794
	43,029	*	Psychiatric Solutions, Inc		1,151
	120,548		Quest Diagnostics, Inc		6,291
	16,070	*	RehabCare Group, Inc		349
	15,881	*	Skilled Healthcare Group, Inc (Class A)		128
	40,332	*	Sun Healthcare Group, Inc		348
	35,130	*	Sunrise Senior Living, Inc		106
	367,275	*	Tenet Healthcare Corp		2,160
	35,848		Universal Health Services, Inc (Class B)		2,220
	8,422	*	US Physical Therapy, Inc		127
	5,340	*	Virtual Radiologic Corp		70
			TOTAL HEALTH SERVICES		109,740
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.03%
	25,000	*	Broadwind Energy, Inc		197
	15,782	*	Comverge, Inc		193
	25,588		Granite Construction, Inc		793
	28,862		Great Lakes Dredge & Dock Corp		201
	7,262	*	LB Foster Co (Class A)		222
	23,922	*	Matrix Service Co		260
	13,261	*	MYR Group, Inc		280
	19,593	*	Orion Marine Group, Inc		402
	8,423	*	Sterling Construction Co, Inc		151
			TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		2,699
HOLDING AND OTHER INVESTMENT OFFICES - 2.89%
	30,272		Acadia Realty Trust		456
	31,920	*	Affiliated Managers Group, Inc		2,075
	5,860		Agree Realty Corp		134
	1,723		Alexander’s, Inc		510
	30,074		Alexandria Real Estate Equities, Inc		1,635
	151,445		Allied Capital Corp		465
	111,148		AMB Property Corp		2,551
	39,859		American Campus Communities, Inc		1,070
	10,063		American Capital Agency Corp		286
	12,511	*	Ampal American Israel (Class A)		25
	420,683		Annaly Mortgage Management, Inc		7,631
	40,991		Anthracite Capital, Inc		43
	87,436		Anworth Mortgage Asset Corp		689
	90,262		Apartment Investment & Management Co (Class A)		1,331
	59,957		Ashford Hospitality Trust, Inc		207
	10,813		Associated Estates Realty Corp		104
	60,592		AvalonBay Communities, Inc		4,407

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	76,686		BioMed Realty Trust, Inc	$	1,058
	107,409		Boston Properties, Inc		7,041
	98,418		Brandywine Realty Trust		1,087
	39,170		BRE Properties, Inc (Class A)		1,226
	50,873		Camden Property Trust		2,050
	8,730	*	Cape Bancorp, Inc		67
	30,528		Capital Lease Funding, Inc		123
	2,167		Capital Southwest Corp		166
	53,489		Capstead Mortgage Corp		744
	9,676		Care Investment Trust, Inc		74
	106,459		CBL & Associates Properties, Inc		1,033
	31,340		Cedar Shopping Centers, Inc		202
	5,581		Cherokee, Inc		134
	20,827		Cogdell Spencer, Inc		100
	37,771		Colonial Properties Trust		368
	43,764		Corporate Office Properties Trust		1,614
	56,384		Cousins Properties, Inc		467
	13,235		Danvers Bancorp, Inc		180
	134,600		DCT Industrial Trust, Inc		688
	112,304		Developers Diversified Realty Corp		1,038
	82,463		DiamondRock Hospitality Co		668
	58,071		Digital Realty Trust, Inc		2,654
	88,791		Douglas Emmett, Inc		1,090
	173,154		Duke Realty Corp		2,080
	9,022		Dynex Capital, Inc		76
	19,564		EastGroup Properties, Inc		748
	43,827		Education Realty Trust, Inc		260
	26,837		Entertainment Properties Trust		916
	19,482		Equity Lifestyle Properties, Inc		834
	26,061		Equity One, Inc		408
	208,564		Equity Residential		6,403
	20,677		Essex Property Trust, Inc		1,645
	62,323		Extra Space Storage, Inc		658
	44,743		Federal Realty Investment Trust		2,746
	66,474		FelCor Lodging Trust, Inc		301
	42,593		First Industrial Realty Trust, Inc		224
	25,392		First Potomac Realty Trust		294
	48,173		Franklin Street Properties Corp		631
	14,898		Getty Realty Corp		366
	15,081		Gladstone Capital Corp		135
	6,667		Gladstone Commercial Corp		91
	26,916		Glimcher Realty Trust		99
	58,824	*	Gramercy Capital Corp		143
	16,757	*	Harris & Harris Group, Inc		105
	27,878		Hatteras Financial Corp		836
	225,397		HCP, Inc		6,478

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	92,366		Health Care REIT, Inc	$	3,844
	45,444		Healthcare Realty Trust, Inc		960
	46,608		Hersha Hospitality Trust		144
	54,288		Highwoods Properties, Inc		1,707
	33,859	*	Hilltop Holdings, Inc		415
	25,152		Home Properties, Inc		1,084
	94,278		Hospitality Properties Trust		1,920
	466,977		Host Marriott Corp		5,496
	177,977		HRPT Properties Trust		1,338
	53,550		Inland Real Estate Corp		469
	6,800	*	Invesco Mortgage Capital, Inc		149
	45,179		Investors Real Estate Trust		408
	1,201,233		iShares Russell 3000 Index Fund		74,465
	84,164	*	iStar Financial, Inc		256
	33,316		Kilroy Realty Corp		924
	287,050		Kimco Realty Corp		3,743
	35,097		Kite Realty Group Trust		146
	51,068		LaSalle Hotel Properties		1,004
	67,140		Lexington Corporate Properties Trust		342
	85,850		Liberty Property Trust		2,793
	17,555		LTC Properties, Inc		422
	66,428		Macerich Co		2,015
	59,666		Mack-Cali Realty Corp		1,929
	5,395		Main Street Capital Corp		77
	70,910		Medical Properties Trust, Inc		554
	215,519		MFA Mortgage Investments, Inc		1,716
	21,993		Mid-America Apartment Communities, Inc		993
	14,218		Mission West Properties, Inc		96
	13,926		Monmouth Real Estate Investment Corp (Class A)		97
	17,411		MVC Capital, Inc		153
	21,615		National Health Investors, Inc		684
	62,274		National Retail Properties, Inc		1,337
	78,255		Nationwide Health Properties, Inc		2,425
	63,283		NorthStar Realty Finance Corp		222
	61,387		Omega Healthcare Investors, Inc		983
	16,523		Parkway Properties, Inc		326
	28,926		Pennsylvania Real Estate Investment Trust		220
	124,741		Plum Creek Timber Co, Inc		3,822
	36,066		Post Properties, Inc		649
	30,602		Potlatch Corp		871
	338,933		Prologis		4,040
	40,446		Prospect Capital Corp		433
	13,782		PS Business Parks, Inc		707
	104,740		Public Storage, Inc		7,881
	79,770		RAIT Investment Trust		235
	11,548		Ramco-Gershenson Properties		103

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	79,144		Realty Income Corp	$	2,030
	59,452		Redwood Trust, Inc		922
	60,874		Regency Centers Corp		2,255
	15,662		Resource Capital Corp		85
	6,560		Saul Centers, Inc		211
	91,682		Senior Housing Properties Trust		1,752
	185,818		Simon Property Group, Inc		12,901
	58,802		SL Green Realty Corp		2,578
	16,182		Sovran Self Storage, Inc		492
	8,406	*	SRS Labs, Inc		61
	31,300	*	Starwood Property Trust, Inc		634
	55,726	*	Strategic Hotels & Resorts, Inc		144
	12,790		Sun Communities, Inc		275
	61,997		Sunstone Hotel Investors, Inc		440
	31,091		Tanger Factory Outlet Centers, Inc		1,161
	39,722		Taubman Centers, Inc		1,433
	116,061		UDR, Inc		1,827
	6,794		UMH Properties, Inc		55
	10,285		Universal Health Realty Income Trust		335
	19,529		Urstadt Biddle Properties, Inc (Class A)		285
	64,991		U-Store-It Trust		406
	21,439	*	Vantage Drilling Co		39
	119,579		Ventas, Inc		4,604
	221,694		Virgin Media, Inc		3,086
	4,394	*	Virtus Investment Partners, Inc		69
	117,477		Vornado Realty Trust		7,567
	50,291		WABCO Holdings, Inc		1,056
	16,401		Walter Investment Management Corp		263
	44,612		Washington Real Estate Investment Trust		1,285
	81,200		Weingarten Realty Investors		1,618
	8,043		Winthrop Realty Trust		78
			TOTAL HOLDING AND OTHER INVESTMENT OFFICES		258,512
HOTELS AND OTHER LODGING PLACES - 0.30%
	18,496		Ameristar Casinos, Inc		292
	15,345	*	Bluegreen Corp		47
	43,845		Boyd Gaming Corp		479
	22,909		Choice Hotels International, Inc		712
	28,655	*	Gaylord Entertainment Co		576
	21,853	*	Great Wolf Resorts, Inc		78
	9,907	*	Isle of Capri Casinos, Inc		117
	231,262	*	Las Vegas Sands Corp		3,894
	14,891		Marcus Corp		190
	228,704		Marriott International, Inc (Class A)		6,310
	162,281	*	MGM Mirage		1,954
	8,692	*	Monarch Casino & Resort, Inc		94

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,393	*	Morgans Hotel Group Co	$	78
	67,477	*	Orient-Express Hotels Ltd (Class A)		777
	11,051	*	Outdoor Channel Holdings, Inc		72
	9,873	*	Red Lion Hotels Corp		57
	142,945		Starwood Hotels & Resorts Worldwide, Inc		4,721
	22,214	*	Vail Resorts, Inc		745
	137,321		Wyndham Worldwide Corp		2,241
	51,255	*	Wynn Resorts Ltd		3,633
			TOTAL HOTELS AND OTHER LODGING PLACES		27,067
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.80%
	19,106	*	3PAR, Inc		211
	8,853		Aaon, Inc		178
	55,514		Actuant Corp (Class A)		892
	72,519	*	AGCO Corp		2,004
	4,490		Alamo Group, Inc		71
	68,477	*	Allis-Chalmers Energy, Inc		299
	18,705	*	Altra Holdings, Inc		209
	8,632		Ampco-Pittsburgh Corp		230
	1,031,365		Applied Materials, Inc		13,820
	5,631	*	Argan, Inc		76
	13,287	*	Astec Industries, Inc		338
	46,778		Black & Decker Corp		2,164
	13,787		Black Box Corp		346
	35,059	*	Blount International, Inc		332
	6,303	*	Bolt Technology Corp		79
	39,839		Briggs & Stratton Corp		773
	296,501	*	Brocade Communications Systems, Inc		2,330
	52,087	*	Brooks Automation, Inc		403
	57,569		Bucyrus International, Inc (Class A)		2,051
	46,691		Carlisle Cos, Inc		1,583
	8,145		Cascade Corp		218
	463,840		Caterpillar, Inc		23,809
	50,384	*	Cirrus Logic, Inc		280
	25,795	*	Colfax Corp		274
	12,813	*	Columbus McKinnon Corp		194
	22,453	*	Cray, Inc		187
	155,436		Cummins, Inc		6,965
	34,757		Curtiss-Wright Corp		1,186
	22,436	*	Cymer, Inc		872
	325,976		Deere & Co		13,991
	1,325,146	*	Dell, Inc		20,222
	53,590		Diebold, Inc		1,765
	59,606		Donaldson Co, Inc		2,064
	142,965		Dover Corp		5,541
	63,078	*	Dresser-Rand Group, Inc		1,960

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	22,541	*	Dril-Quip, Inc	$	1,119
	1,556,134	*	EMC Corp		26,517
	581,708		Emerson Electric Co		23,315
	65,177	*	Emulex Corp		671
	37,016	*	Ener1, Inc		256
	19,155	*	ENGlobal Corp		79
	15,889	*	EnPro Industries, Inc		363
	86,789	*	Entegris, Inc		430
	89,895	*	Extreme Networks, Inc		252
	10,864	*	Flanders Corp		56
	26,655	*	Flow International Corp		69
	43,431		Flowserve Corp		4,280
	94,805	*	FMC Technologies, Inc		4,952
	12,288	*	Fuel Tech, Inc		138
	39,732	*	Gardner Denver, Inc		1,386
	12,797		Gorman-Rupp Co		319
	46,150		Graco, Inc		1,286
	13,951		Graham Corp		217
	8,903	*	Harbin Electric, Inc		150
	1,845,368		Hewlett-Packard Co		87,119
	3,857	*	Hurco Cos, Inc		66
	61,072		IDEX Corp		1,707
	18,659	*	Immersion Corp		80
	48,048	*	Intermec, Inc		677
	1,021,043		International Business Machines Corp		122,126
	227,144		International Game Technology		4,879
	14,156	*	Intevac, Inc		190
	19,132	*	Isilon Systems, Inc		117
	140,454		ITT Industries, Inc		7,325
	145,696		Jabil Circuit, Inc		1,954
	20,027		John Bean Technologies Corp		364
	458,882		Johnson Controls, Inc		11,728
	79,248		Joy Global, Inc		3,878
	9,545	*	Kadant, Inc		116
	25,319		Kaydon Corp		821
	62,712		Kennametal, Inc		1,543
	53,200	*	Kulicke & Soffa Industries, Inc		321
	98,550	*	Lam Research Corp		3,366
	35,025		Lennox International, Inc		1,265
	62,766	*	Lexmark International, Inc (Class A)		1,352
	10,010		Lindsay Manufacturing Co		394
	11,534		Lufkin Industries, Inc		613
	103,194		Manitowoc Co, Inc		977
	10,825		Met-Pro Corp		105
	60,518	*	Micros Systems, Inc		1,827
	12,902	*	Middleby Corp		710

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,902		Modine Manufacturing Co	$	231
	3,910		Nacco Industries, Inc (Class A)		235
	17,015	*	NATCO Group, Inc (Class A)		753
	14,671	*	Natural Gas Services Group, Inc		259
	36,296	*	Netezza Corp		408
	28,803	*	Netgear, Inc		529
	25,532		Nordson Corp		1,432
	249,926		Northrop Grumman Corp		12,934
	36,849	*	Oil States International, Inc		1,295
	90,100		Pall Corp		2,908
	128,085	*	Palm, Inc		2,233
	5,898	*	PAR Technology Corp		38
	159,153		Pitney Bowes, Inc		3,955
	9,152	*	PMFG, Inc		118
	6,528		Primoris Services Corp		47
	134,455	*	Quantum Corp		169
	25,143	*	Rackable Systems, Inc		169
	305,563		Raytheon Co		14,658
	19,019	*	RBC Bearings, Inc		444
	7,282	*	Rimage Corp		124
	40,886	*	Riverbed Technology, Inc		898
	19,984		Robbins & Myers, Inc		469
	21,125	*	Safeguard Scientifics, Inc		232
	174,115	*	SanDisk Corp		3,778
	16,514		Sauer-Danfoss, Inc		127
	19,852	*	Scansource, Inc		562
	49,874	*	Scientific Games Corp (Class A)		790
	376,618		Seagate Technology, Inc		5,728
	15,689	*	Semitool, Inc		133
	19,250	*	Sigma Designs, Inc		280
	37,552		SPX Corp		2,301
	13,669		Standex International Corp		271
	19,954	*	STEC, Inc		586
	16,272	*	Super Micro Computer, Inc		138
	8,956	*	T-3 Energy Services, Inc		176
	10,545	*	Tecumseh Products Co (Class A)		119
	16,656		Tennant Co		484
	132,505	*	Teradata Corp		3,647
	79,671	*	Terex Corp		1,652
	213,323		Textron, Inc		4,049
	74,143		Timken Co		1,737
	27,554		Toro Co		1,096
	6,504		Twin Disc, Inc		81
	18,851	*	Ultratech, Inc		249
	95,763	*	Varian Medical Systems, Inc		4,034
	58,568	*	VeriFone Holdings, Inc		931

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,886		Watsco, Inc	$	1,072
	173,063	*	Western Digital Corp		6,322
	46,214		Woodward Governor Co		1,121
	46,516	*	Zebra Technologies Corp (Class A)		1,206
			TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		516,600
INSTRUMENTS AND RELATED PRODUCTS - 3.26%
	15,924	*	Abaxis, Inc		426
	27,756	*	Abiomed, Inc		270
	26,489	*	Accuray, Inc		172
	64,693	*	Affymetrix, Inc		568
	263,023	*	Agilent Technologies, Inc		7,320
	47,580	*	Align Technology, Inc		677
	235,978		Allergan, Inc		13,393
	18,953	*	Alphatec Holdings, Inc		87
	55,114	*	American Medical Systems Holdings, Inc		933
	7,436		American Science & Engineering, Inc		506
	10,953		Analogic Corp		405
	14,600	*	Anaren, Inc		248
	18,523	*	Angiodynamics, Inc		255
	10,519	*	Argon ST, Inc		200
	12,864	*	Aspect Medical Systems, Inc		154
	1,039		Atrion Corp		150
	35,190	*	ATS Medical, Inc		94
	11,864		Badger Meter, Inc		459
	77,513		Bard (C.R.), Inc		6,093
	468,584		Baxter International, Inc		26,713
	53,391		Beckman Coulter, Inc		3,681
	186,003		Becton Dickinson & Co		12,973
	14,547	*	Bio-Rad Laboratories, Inc (Class A)		1,337
	1,155,111	*	Boston Scientific Corp		12,233
	12,772	*	Bovie Medical Corp		100
	39,674	*	Bruker BioSciences Corp		423
	12,419	*	Cantel Medical Corp		187
	14,117	*	Cardiac Science Corp		56
	18,454	*	CardioNet, Inc		124
	139,063	*	CareFusion Corp		3,032
	42,022	*	Cepheid, Inc		556
	23,514	*	Clarient, Inc		99
	17,122	*	Coherent, Inc		399
	15,857		Cohu, Inc		215
	22,053	*	Conmed Corp		423
	34,815		Cooper Cos, Inc		1,035
	10,023	*	Cutera, Inc		87
	19,734	*	Cyberonics, Inc		315
	5,493	*	Cynosure, Inc (Class A)		64

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	200,480		Danaher Corp	$	13,495
	17,304	*	Delcath Systems, Inc		85
	114,341		Dentsply International, Inc		3,949
	35,845	*	Depomed, Inc		157
	34,877	*	DexCom, Inc		277
	14,062	*	Dionex Corp		914
	5,160	*	DXP Enterprises, Inc		58
	209,804		Eastman Kodak Co		1,003
	13,235	*	Electro-Optical Sciences, Inc		127
	34,017	*	Endologix, Inc		211
	11,853	*	EnteroMedics, Inc		57
	20,938	*	ESCO Technologies, Inc		825
	23,800	*	Esterline Technologies Corp		933
	56,726	*	ev3, Inc		698
	4,898	*	Exactech, Inc		77
	12,851	*	FARO Technologies, Inc		221
	27,915	*	FEI Co		688
	8,200	*	FGX International Holdings Ltd		114
	115,107	*	Flir Systems, Inc		3,220
	38,173	*	Formfactor, Inc		913
	35,908	*	Fossil, Inc		1,022
	87,170		Garmin Ltd		3,290
	19,914	*	Haemonetics Corp		1,118
	22,869	*	Hanger Orthopedic Group, Inc		317
	19,183	*	Harvard Bioscience, Inc		73
	9,696	*	Herley Industries, Inc		127
	48,016		Hillenbrand, Inc		978
	196,639	*	Hologic, Inc		3,213
	8,752	*	Home Diagnostics, Inc		59
	11,395	*	ICU Medical, Inc		420
	10,189	*	ICx Technologies, Inc		60
	13,461	*	I-Flow Corp		153
	20,867	*	II-VI, Inc		531
	95,406	*	Illumina, Inc		4,055
	20,469	*	Insulet Corp		230
	14,613	*	Integra LifeSciences Holdings Corp		499
	29,049	*	Intuitive Surgical, Inc		7,618
	24,872		Invacare Corp		554
	89,211	*	ION Geophysical Corp		314
	12,955	*	IRIS International, Inc		146
	25,003	*	ISTA Pharmaceuticals, Inc		112
	30,263	*	Itron, Inc		1,941
	30,992	*	Ixia		213
	8,260	*	Kensey Nash Corp		239
	129,604		Kla-Tencor Corp		4,648
	50,517	*	Kopin Corp		242

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	1,705	*	K-Tron International, Inc	$	162
	10,929	*	KVH Industries, Inc		109
	63,078	*	L-1 Identity Solutions, Inc		441
	8,713	*	LaBarge, Inc		98
	10,243	*	MAKO Surgical Corp		90
	38,810	*	Masimo Corp		1,017
	9,778	*	Measurement Specialties, Inc		100
	9,627	*	Medical Action Industries, Inc		116
	866,350		Medtronic, Inc		31,882
	23,230	*	Merit Medical Systems, Inc		403
	25,846	*	Mettler-Toledo International, Inc		2,341
	10,806	*	Micrus Endovascular Corp		140
	43,216	*	Millipore Corp		3,039
	21,996		Mine Safety Appliances Co		605
	35,548	*	MKS Instruments, Inc		686
	12,667		Movado Group, Inc		184
	13,932		MTS Systems Corp		407
	44,405		National Instruments Corp		1,227
	19,956	*	Natus Medical, Inc		308
	10,524	*	Neogen Corp		340
	27,910	*	Newport Corp		244
	28,592	*	NuVasive, Inc		1,194
	14,324	*	NxStage Medical, Inc		96
	14,876	*	Orthofix International NV		437
	57,344	*	Orthovita, Inc		252
	2,713	*	OYO Geospace Corp		70
	12,302	*	Palomar Medical Technologies, Inc		199
	89,639		PerkinElmer, Inc		1,725
	30,372	*	RAE Systems, Inc		33
	57,773	*	Resmed, Inc		2,611
	7,581	*	Rochester Medical Corp		91
	109,405		Rockwell Automation, Inc		4,661
	121,596		Rockwell Collins, Inc		6,177
	11,197	*	Rockwell Medical Technologies, Inc		87
	21,764	*	Rofin-Sinar Technologies, Inc		500
	70,535		Roper Industries, Inc		3,596
	20,900	*	Rudolph Technologies, Inc		155
	11,900	*	Sirona Dental Systems, Inc		354
	8,984	*	Somanetics Corp		145
	15,050	*	SonoSite, Inc		398
	21,581	*	Spectranetics Corp		138
	267,316	*	St. Jude Medical, Inc		10,428
	63,050	*	Star Scientific, Inc		59
	16,786	*	Stereotaxis, Inc		75
	44,141		STERIS Corp		1,344
	261,364		Stryker Corp		11,874

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	33,149	*	Symmetry Medical, Inc	$	344
	9,221	*	Synovis Life Technologies, Inc		127
	29,457		Techne Corp		1,843
	27,519	*	Teledyne Technologies, Inc		990
	132,428	*	Teradyne, Inc		1,225
	323,853	*	Thermo Electron Corp		14,143
	43,318	*	Thoratec Corp		1,311
	9,073	*	Trans1, Inc		44
	90,408	*	Trimble Navigation Ltd		2,162
	2,357		Utah Medical Products, Inc		69
	22,745	*	Varian, Inc		1,161
	12,709	*	Vascular Solutions, Inc		105
	27,373	*	Veeco Instruments, Inc		638
	11,927	*	Vital Images, Inc		149
	56,585	*	Vivus, Inc		591
	37,127	*	Volcano Corp		624
	75,249	*	Waters Corp		4,203
	28,863	*	Wright Medical Group, Inc		515
	662,878		Xerox Corp		5,131
	4,290		Young Innovations, Inc		113
	166,651	*	Zimmer Holdings, Inc		8,907
	14,948	*	Zoll Medical Corp		322
	12,959	*	Zygo Corp		88
			TOTAL INSTRUMENTS AND RELATED PRODUCTS		292,099
INSURANCE AGENTS, BROKERS AND SERVICE - 0.35%
	214,863		AON Corp		8,743
	79,596		Arthur J. Gallagher & Co		1,940
	92,725		Brown & Brown, Inc		1,777
	14,025	*	Crawford & Co (Class B)		62
	248,928		Hartford Financial Services Group, Inc		6,597
	5,396		Life Partners Holdings, Inc		97
	403,530		Marsh & McLennan Cos, Inc		9,978
	36,167	*	National Financial Partners Corp		315
	5,996		White Mountains Insurance Group Ltd		1,841
			TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		31,350
INSURANCE CARRIERS - 3.41%
	345,514		Aetna, Inc		9,616
	361,124		Aflac, Inc		15,434
	4,318	*	Alleghany Corp		1,119
	37,855		Allied World Assurance Holdings Ltd		1,814
	414,047		Allstate Corp		12,678
	223,278		Ambac Financial Group, Inc		375
	50,088		American Equity Investment Life Holding Co		352
	65,151		American Financial Group, Inc		1,661

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	90,270		American International Group, Inc	$	3,982
	12,181		American National Insurance Co		1,038
	10,925		American Physicians Capital, Inc		315
	4,784		American Physicians Service Group, Inc		110
	7,468	*	American Safety Insurance Holdings Ltd		118
	40,065	*	AMERIGROUP Corp		888
	13,065	*	Amerisafe, Inc		225
	17,807		Amtrust Financial Services, Inc		203
	40,979	*	Arch Capital Group Ltd		2,768
	23,723	*	Argo Group International Holdings Ltd		799
	65,046		Aspen Insurance Holdings Ltd		1,722
	89,185		Assurant, Inc		2,859
	80,379		Assured Guaranty Ltd		1,561
	109,056		Axis Capital Holdings Ltd		3,291
	4,897		Baldwin & Lyons, Inc (Class B)		115
	30,114	*	Catalyst Health Solutions, Inc		878
	31,767	*	Centene Corp		602
	271,681		Chubb Corp		13,695
	209,097		Cigna Corp		5,874
	110,799		Cincinnati Financial Corp		2,880
	32,879	*	Citizens, Inc (Class A)		208
	19,762		CNA Financial Corp		477
	16,018	*	CNA Surety Corp		259
	150,674	*	Conseco, Inc		793
	36,264		Delphi Financial Group, Inc (Class A)		821
	9,364		Donegal Group, Inc (Class A)		145
	6,304		Eastern Insurance Holdings, Inc		60
	4,503		EMC Insurance Group, Inc		95
	37,852		Employers Holdings, Inc		586
	38,059		Endurance Specialty Holdings Ltd		1,388
	4,920	*	Enstar Group Ltd		306
	22,958		Erie Indemnity Co (Class A)		860
	47,283		Everest Re Group Ltd		4,147
	10,036		FBL Financial Group, Inc (Class A)		195
	178,542		Fidelity National Title Group, Inc (Class A)		2,692
	13,254	*	First Acceptance Corp		36
	70,891		First American Corp		2,295
	8,814		First Mercury Financial Corp		117
	29,997		Flagstone Reinsurance Holdings Ltd		338
	6,887	*	Fpic Insurance Group, Inc		231
	375,490		Genworth Financial, Inc (Class A)		4,487
	20,683	*	Greenlight Capital Re Ltd (Class A)		389
	7,438	*	Hallmark Financial Services		60
	39,385		Hanover Insurance Group, Inc		1,628
	10,427		Harleysville Group, Inc		330
	87,439		HCC Insurance Holdings, Inc		2,391

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	79,465	*	Health Net, Inc	$	1,224
	44,595	*	Healthspring, Inc		546
	29,235		Horace Mann Educators Corp		408
	129,169	*	Humana, Inc		4,818
	3,952		Independence Holding Co		23
	10,619		Infinity Property & Casualty Corp		451
	2,078		Kansas City Life Insurance Co		65
	142,951	*	Leucadia National Corp		3,534
	234,409		Lincoln National Corp		6,074
	249,975		Loews Corp		8,562
	34,934		Maiden Holdings Ltd		254
	7,460	*	Markel Corp		2,460
	37,052		Max Re Capital Ltd		792
	103,730	*	MBIA, Inc		805
	42,189		Meadowbrook Insurance Group, Inc		312
	4,134		Mercer Insurance Group, Inc		75
	19,709		Mercury General Corp		713
	445,372		Metlife, Inc		16,955
	30,372	*	Metropolitan Health Networks, Inc		66
	101,479	*	MGIC Investment Corp		752
	10,923	*	Molina Healthcare, Inc		226
	67,583		Montpelier Re Holdings Ltd		1,103
	11,286		National Interstate Corp		198
	1,551		National Western Life Insurance Co (Class A)		273
	10,494	*	Navigators Group, Inc		577
	4,145		NYMAGIC, Inc		72
	13,097		Odyssey Re Holdings Corp		849
	183,477		Old Republic International Corp		2,235
	20,220		OneBeacon Insurance Group Ltd (Class A)		278
	43,856		PartnerRe Ltd		3,374
	113,193		Phoenix Cos, Inc		368
	40,201		Platinum Underwriters Holdings Ltd		1,441
	22,267	*	PMA Capital Corp (Class A)		127
	76,047		PMI Group, Inc		323
	13,808		Presidential Life Corp		143
	32,274	*	Primus Guaranty Ltd		138
	241,284		Principal Financial Group		6,609
	24,934	*	ProAssurance Corp		1,301
	524,349		Progressive Corp		8,694
	65,519		Protective Life Corp		1,403
	356,742		Prudential Financial, Inc		17,805
	62,616		Radian Group, Inc		662
	15,001	*	RadNet, Inc		39
	55,702		Reinsurance Group of America, Inc (Class A)		2,484
	47,432		RenaissanceRe Holdings Ltd		2,597
	14,489		RLI Corp		765

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,778		Safety Insurance Group, Inc	$	388
	14,868	*	SeaBright Insurance Holdings, Inc		170
	40,400		Selective Insurance Group, Inc		635
	37,995		Stancorp Financial Group, Inc		1,534
	9,480		State Auto Financial Corp		170
	12,744		Stewart Information Services Corp		158
	63,422		Torchmark Corp		2,754
	31,083		Tower Group, Inc		758
	20,330		Transatlantic Holdings, Inc		1,020
	452,519		Travelers Cos, Inc		22,279
	14,800	*	Triple-S Management Corp (Class B)		248
	27,654	*	United America Indemnity Ltd (Class A)		204
	17,338		United Fire & Casualty Co		310
	919,116		UnitedHealth Group, Inc		23,014
	32,289		Unitrin, Inc		629
	23,233	*	Universal American Financial Corp		219
	10,064		Universal Insurance Holdings, Inc		51
	253,873		UnumProvident Corp		5,443
	73,010		Validus Holdings Ltd		1,884
	102,893		W.R. Berkley Corp		2,601
	32,075	*	WellCare Health Plans, Inc		791
	374,860	*	WellPoint, Inc		17,753
	1,221		Wesco Financial Corp		397
	262,310		XL Capital Ltd (Class A)		4,580
	29,373		Zenith National Insurance Corp		908
			TOTAL INSURANCE CARRIERS		304,177
JUSTICE, PUBLIC ORDER AND SAFETY - 0.03%
	9,575	*	China Fire & Security Group, Inc		184
	88,315	*	Corrections Corp of America		2,000
	39,357	*	Geo Group, Inc		794
			TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		2,978
LEATHER AND LEATHER PRODUCTS - 0.13%
	245,862		Coach, Inc		8,095
	69,894	*	CROCS, Inc		465
	16,862	*	Genesco, Inc		406
	54,965	*	Iconix Brand Group, Inc		685
	13,378	*	Steven Madden Ltd		492
	34,829	*	Timberland Co (Class A)		485
	5,214		Weyco Group, Inc		119
	38,905		Wolverine World Wide, Inc		966
			TOTAL LEATHER AND LEATHER PRODUCTS		11,713
LEGAL SERVICES - 0.02%
	39,169	*	FTI Consulting, Inc		1,669

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,085	*	Pre-Paid Legal Services, Inc	$	360
			TOTAL LEGAL SERVICES		2,029
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.00%**
	8,114	*	Emergency Medical Services Corp (Class A)		377
			TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		377
LUMBER AND WOOD PRODUCTS - 0.02%
	8,518		American Woodmark Corp		165
	9,014		Deltic Timber Corp		413
	86,907	*	Louisiana-Pacific Corp		580
	7,407		Skyline Corp		167
	14,766		Universal Forest Products, Inc		582
			TOTAL LUMBER AND WOOD PRODUCTS		1,907
METAL MINING - 0.58%
	37,679	*	Allied Nevada Gold Corp		369
	100,443		Cleveland-Cliffs, Inc		3,250
	58,283	*	Coeur d’Alene Mines Corp		1,195
	317,147		Freeport-McMoRan Copper & Gold, Inc (Class B)		21,759
	175,118	*	Hecla Mining Co		769
	371,558		Newmont Mining Corp		16,356
	50,856	*	Paramount Gold and Silver Corp		70
	60,226	*	Patriot Coal Corp		708
	45,043	*	Rosetta Resources, Inc		662
	28,368		Royal Gold, Inc		1,294
	19,857	*	ShengdaTech, Inc		126
	135,177		Southern Copper Corp		4,149
	30,773	*	Stillwater Mining Co		207
	36,975	*	Uranerz Energy Corp		85
	61,313	*	US Gold Corp		177
			TOTAL METAL MINING		51,176
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.14%
	16,319		Armstrong World Industries, Inc		562
	4,923		Blyth, Inc		190
	51,179		Callaway Golf Co		389
	22,322		Daktronics, Inc		191
	95,513		Hasbro, Inc		2,650
	31,609	*	Intrepid Potash, Inc		746
	19,429	*	Jakks Pacific, Inc		278
	67,398		Jarden Corp		1,892
	22,402	*	Leapfrog Enterprises, Inc		92
	8,407		Marine Products Corp		46
	276,921		Mattel, Inc		5,113
	3,981		Oil-Dri Corp of America		58

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,785	*	RC2 Corp	$	211
	38,355	*	Shuffle Master, Inc		361
	4,356	*	Steinway Musical Instruments, Inc		52
			TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		12,831
MISCELLANEOUS RETAIL - 1.55%
	14,742	*	1-800-FLOWERS.COM, Inc (Class A)		51
	15,331	*	ALLION HEALTHCARE,Inc		90
	254,757	*	Amazon.com, Inc		23,783
	28,636		Barnes & Noble, Inc		636
	15,894		Big 5 Sporting Goods Corp		240
	10,266	*	Blue Nile, Inc		638
	5,600		Books-A-Million, Inc		67
	41,091	*	Borders Group, Inc		128
	10,668	*	Build-A-Bear Workshop, Inc		52
	30,566	*	Cabela’s, Inc		408
	22,738		Cash America International, Inc		686
	44,420	*	CKX, Inc		298
	46,768	*	Coldwater Creek, Inc		383
	1,124,506		CVS Corp		40,189
	65,848	*	Dick’s Sporting Goods, Inc		1,475
	69,440	*	Dollar Tree, Inc		3,380
	61,220	*	Drugstore.Com		149
	36,390	*	Ezcorp, Inc (Class A)		497
	10,172	*	Fuqi International, Inc		298
	22,258	*	GSI Commerce, Inc		430
	23,990	*	Hibbett Sports, Inc		437
	30,139	*	HSN, Inc		491
	19,736	*	Jo-Ann Stores, Inc		530
	9,216	*	Kirkland’s, Inc		131
	38,265	*	Marvel Entertainment, Inc		1,899
	32,978		MSC Industrial Direct Co (Class A)		1,437
	24,699		Nutri/System, Inc		377
	212,310	*	Office Depot, Inc		1,405
	62,128	*	OfficeMax, Inc		782
	11,517	*	Overstock.com, Inc		169
	6,868	*	PC Connection, Inc		37
	7,784	*	PC Mall, Inc		53
	96,494		Petsmart, Inc		2,099
	32,399	*	Priceline.com, Inc		5,372
	12,378		Pricesmart, Inc		232
	445,462	*	Rite Aid Corp		731
	15,239	*	Shutterfly, Inc		253
	65,800		Signet Jewelers Ltd		1,733
	12,380	*	Stamps.com, Inc		115
	551,359		Staples, Inc		12,803

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,938		Systemax, Inc	$	121
	95,185		Tiffany & Co		3,667
	768,070		Walgreen Co		28,780
	22,988		World Fuel Services Corp		1,105
	25,452	*	Zale Corp		182
	12,255	*	Zumiez, Inc		201
			TOTAL MISCELLANEOUS RETAIL		139,020
MOTION PICTURES - 0.70%
	10,098	*	Ascent Media Corp (Series A)		259
	24,879	*	Avid Technology, Inc		351
	8,632	*	Carmike Cinemas, Inc		87
	21,687		Cinemark Holdings, Inc		225
	215,450	*	Discovery Communications, Inc (Class C)		5,608
	55,599	*	DreamWorks Animation SKG, Inc (Class A)		1,977
	11,202	*	Gaiam, Inc (Class A)		78
	77,604	*	Macrovision Solutions Corp		2,607
	30,800		National CineMedia, Inc		523
	1,754,168		News Corp (Class A)		21,032
	60,087		Regal Entertainment Group (Class A)		740
	7,217	*	Rentrak Corp		129
	925,498		Time Warner, Inc		26,636
	114,426	*	tw telecom inc (Class A)		1,539
			TOTAL MOTION PICTURES		61,791
NONDEPOSITORY INSTITUTIONS - 0.73%
	36,918		Advance America Cash Advance Centers, Inc		207
	234,563		American Capital Ltd		758
	783,667		American Express Co		26,567
	69,319	*	AmeriCredit Corp		1,095
	125,597		Apollo Investment Corp		1,199
	79,235		Ares Capital Corp		873
	7,100		BlackRock Kelso Capital Corp		53
	29,500	*	Boise, Inc		156
	348,611		Capital One Financial Corp		12,457
	210,135		CapitalSource, Inc		912
	510,120		Chimera Investment Corp		1,949
	300,540		CIT Group, Inc		364
	16,600	*	CompuCredit Corp		78
	6,526	*	Credit Acceptance Corp		210
	12,000	*	Cypress Sharpridge Investments, Inc		170
	410,534		Discover Financial Services		6,664
	24,100	*	Doral Financial Corp		89
	11,162	*	Encore Capital Group, Inc		150
	2,603	*	ePlus, Inc		40
	19,417		Financial Federal Corp		479

307

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	18,408	*	First Cash Financial Services, Inc	$	315
	43,239	*	First Marblehead Corp		95
	15,921		Gladstone Investment Corp		77
	145,433		GLG Partners, Inc		586
	60,592	*	Heckmann Corp		278
	24,455		Hercules Technology Growth Capital, Inc		240
	17,512	*	Information Services Group, Inc		70
	8,511		Kohlberg Capital Corp		51
	73,976		Lender Processing Services, Inc		2,824
	50,285	*	MCG Capital Corp		211
	9,981		Medallion Financial Corp		83
	20,441	*	Mercadolibre, Inc		786
	13,901	*	Nelnet, Inc (Class A)		173
	9,384	*	NewStar Financial, Inc		31
	12,077		NGP Capital Resources Co		88
	44,117	*	Ocwen Financial Corp		499
	13,973		PennantPark Investment Corp		113
	11,300	*	Pennymac Mortgage Investment Trust		225
	41,814	*	PHH Corp		829
	359,310	*	SLM Corp		3,133
	2,846		Student Loan Corp		132
	20,926		TICC Capital Corp		105
	4,417	*	Tree.com, Inc		33
	5,712		Triangle Capital Corp		70
	12,929	*	World Acceptance Corp		326
			TOTAL NONDEPOSITORY INSTITUTIONS		65,843
NONMETALLIC MINERALS, EXCEPT FUELS - 0.08%
	18,209		AMCOL International Corp		417
	28,828	*	Cardium Therapeutics, Inc		47
	24,755		Compass Minerals International, Inc		1,525
	71,059	*	General Moly, Inc		224
	1,357	*	United States Lime & Minerals, Inc		49
	96,370		Vulcan Materials Co		5,211
			TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		7,473
OIL AND GAS EXTRACTION - 4.61%
	384,959		Anadarko Petroleum Corp		24,149
	259,278		Apache Corp		23,810
	6,580		APCO Argentina, Inc		151
	6,556	*	Approach Resources, Inc		60
	30,327	*	Arena Resources, Inc		1,077
	29,218		Atlas America, Inc		791
	28,046	*	ATP Oil & Gas Corp		502
	41,974	*	Atwood Oceanics, Inc		1,480
	226,115		Baker Hughes, Inc		9,646

308

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	22,381	*	Basic Energy Services, Inc	$	190
	33,452		Berry Petroleum Co (Class A)		896
	29,418	*	Bill Barrett Corp		965
	222,479		BJ Services Co		4,323
	62,158	*	Boots & Coots, Inc		100
	64,224	*	Brigham Exploration Co		583
	18,177	*	Bronco Drilling Co, Inc		119
	78,361		Cabot Oil & Gas Corp		2,801
	38,620	*	Cal Dive International, Inc		382
	165,256	*	Cameron International Corp		6,250
	25,047	*	Carrizo Oil & Gas, Inc		613
	59,090	*	Cheniere Energy, Inc		173
	480,033		Chesapeake Energy Corp		13,633
	63,993		Cimarex Energy Co		2,772
	3,369	*	Clayton Williams Energy, Inc		101
	19,751	*	CNX Gas Corp		606
	51,350	*	Complete Production Services, Inc		580
	34,810	*	Comstock Resources, Inc		1,395
	58,293	*	Concho Resources, Inc		2,117
	10,428	*	Contango Oil & Gas Co		532
	24,174	*	Continental Resources, Inc		947
	5,233	*	CREDO Petroleum Corp		53
	7,528	*	Dawson Geophysical Co		206
	154,398	*	Delta Petroleum Corp		270
	190,838	*	Denbury Resources, Inc		2,887
	343,722		Devon Energy Corp		23,144
	54,180		Diamond Offshore Drilling, Inc		5,175
	41,811	*	Encore Acquisition Co		1,564
	81,717	*	Endeavour International Corp		99
	25,675	*	Energy Recovery, Inc		149
	109,809		ENSCO International, Inc		4,671
	193,149		EOG Resources, Inc		16,130
	100,116		Equitable Resources, Inc		4,265
	108,518	*	EXCO Resources, Inc		2,028
	48,293	*	Exterran Holdings, Inc		1,146
	85,352	*	Forest Oil Corp		1,670
	24,931	*	FX Energy, Inc		81
	4,904	*	Geokinetics, Inc		104
	4,145	*	Georesources, Inc		46
	79,950	*	Global Industries Ltd		760
	18,774	*	GMX Resources, Inc		295
	20,317	*	Goodrich Petroleum Corp		524
	18,897	*	Gulfport Energy Corp		165
	692,454		Halliburton Co		18,780
	29,621	*	Harvest Natural Resources, Inc		152
	81,706	*	Helix Energy Solutions Group, Inc		1,224

309

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	80,380		Helmerich & Payne, Inc	$	3,177
	78,293	*	Hercules Offshore, Inc		384
	823	*	Isramco, Inc		108
	6,902		Kayne Anderson Energy Development Co		91
	95,985	*	Key Energy Services, Inc		835
	78,626	*	Mariner Energy, Inc		1,115
	59,567	*	McMoRan Exploration Co		450
	215,656	*	Nabors Industries Ltd		4,507
	322,909	*	National Oilwell Varco, Inc		13,927
	101,507	*	Newfield Exploration Co		4,320
	64,229	*	Newpark Resources, Inc		206
	134,061		Noble Energy, Inc		8,843
	23,157	*	Northern Oil And Gas, Inc		195
	626,943		Occidental Petroleum Corp		49,153
	42,236	*	Oceaneering International, Inc		2,397
	140,208	*	Oilsands Quest, Inc		158
	5,367		Panhandle Oil and Gas, Inc (Class A)		115
	27,407	*	Parallel Petroleum Corp		87
	96,030	*	Parker Drilling Co		524
	119,282		Patterson-UTI Energy, Inc		1,801
	35,015		Penn Virginia Corp		802
	231,356	*	PetroHawk Energy Corp		5,601
	16,488	*	Petroleum Development Corp		308
	59,203	*	Petroquest Energy, Inc		384
	35,470	*	Pioneer Drilling Co		260
	87,460		Pioneer Natural Resources Co		3,174
	107,013	*	Plains Exploration & Production Co		2,960
	12,071	*	PowerSecure International, Inc		82
	132,232	*	Pride International, Inc		4,025
	94,219	*	Quicksilver Resources, Inc		1,337
	120,004		Range Resources Corp		5,923
	31,629	*	Rex Energy Corp		264
	86,005		Rowan Cos, Inc		1,984
	23,456		RPC, Inc		246
	923,559		Schlumberger Ltd		55,045
	15,473	*	SEACOR Holdings, Inc		1,263
	8,815	*	Seahawk Drilling, Inc		274
	167,369		Smith International, Inc		4,803
	265,788	*	Southwestern Energy Co		11,344
	49,539		St. Mary Land & Exploration Co		1,608
	36,323	*	Stone Energy Corp		592
	23,906	*	Sulphco, Inc		33
	59,956	*	Superior Energy Services		1,350
	11,230	*	Superior Well Services, Inc		109
	28,903	*	Swift Energy Co		684
	49,984	*	Syntroleum Corp		135

310

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	61,137	*	Tetra Technologies, Inc	$	592
	9,895	*	TGC Industries, Inc		48
	39,644		Tidewater, Inc		1,867
	11,158		Toreador Resources Corp		111
	10,127	*	Union Drilling, Inc		77
	31,837	*	Unit Corp		1,313
	50,557		Vaalco Energy, Inc		233
	20,033	*	Venoco, Inc		231
	26,306		W&T Offshore, Inc		308
	37,871	*	Warren Resources, Inc		112
	38,900	*	Whiting Petroleum Corp		2,240
	30,921	*	Willbros Group, Inc		471
	447,189		XTO Energy, Inc		18,478
	9,112	*	Zion Oil & Gas, Inc		89
			TOTAL OIL AND GAS EXTRACTION		410,485
PAPER AND ALLIED PRODUCTS - 0.47%
	84,337		Bemis Co		2,185
	26,323	*	Buckeye Technologies, Inc		282
	38,005	*	Cenveo, Inc		263
	32,513	*	Domtar Corporation		1,145
	35,119		Glatfelter		403
	104,801	*	Graphic Packaging Holding Co		242
	25,049		Greif, Inc (Class A)		1,379
	334,155		International Paper Co		7,427
	13,461	*	Kapstone Paper and Packaging Corp		110
	320,456		Kimberly-Clark Corp		18,900
	130,827		MeadWestvaco Corp		2,918
	17,978		Neenah Paper, Inc		212
	3,565	*	Orchids Paper Products Co		71
	77,673		Packaging Corp of America		1,585
	28,437		Rock-Tenn Co (Class A)		1,340
	14,072		Schweitzer-Mauduit International, Inc		765
	76,538		Sonoco Products Co		2,108
	81,476		Temple-Inland, Inc		1,338
	29,954		Wausau Paper Corp		300
			TOTAL PAPER AND ALLIED PRODUCTS		42,973
PERSONAL SERVICES - 0.15%
	101,777		Cintas Corp		3,086
	22,900	*	Coinstar, Inc		755
	3,696		CPI Corp		46
	15,088		G & K Services, Inc (Class A)		334
	264,974		H&R Block, Inc		4,870
	20,449		Jackson Hewitt Tax Service, Inc		104
	8,861	*	Mac-Gray Corp		96

311

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	44,951		Regis Corp	$	696
	68,023	*	Sally Beauty Holdings, Inc		484
	187,277		Service Corp International		1,313
	11,970	*	Steiner Leisure Ltd		428
	9,989		Unifirst Corp		444
	26,680		Weight Watchers International, Inc		732
			TOTAL PERSONAL SERVICES		13,388
PETROLEUM AND COAL PRODUCTS - 5.37%
	9,171		Alon USA Energy, Inc		91
	56,052		Ashland, Inc		2,423
	1,547,157		Chevron Corp		108,966
	1,145,344		ConocoPhillips		51,724
	21,762	*	CVR Energy, Inc		271
	7,530		Delek US Holdings, Inc		65
	3,766,182	c	Exxon Mobil Corp		258,397
	80,549		Frontier Oil Corp		1,121
	162,929	*	Gran Tierra Energy, Inc		678
	54,162	*	Headwaters, Inc		210
	224,623		Hess Corp		12,008
	32,029		Holly Corp		821
	545,101		Marathon Oil Corp		17,389
	146,325		Murphy Oil Corp		8,424
	7,327		Quaker Chemical Corp		161
	95,510	*	SandRidge Energy, Inc		1,238
	89,404		Sunoco, Inc		2,544
	104,460		Tesoro Corp		1,565
	432,322		Valero Energy Corp		8,383
	40,621		Walter Industries, Inc		2,439
	11,564		WD-40 Co		328
	34,300	*	Western Refining, Inc		221
			TOTAL PETROLEUM AND COAL PRODUCTS		479,467
PIPELINES, EXCEPT NATURAL GAS - 0.11%
	498,076		Spectra Energy Corp		9,434
			TOTAL PIPELINES, EXCEPT NATURAL GAS		9,434
PRIMARY METAL INDUSTRIES - 0.87%
	83,997		AK Steel Holding Corp		1,657
	752,363		Alcoa, Inc		9,872
	75,088		Allegheny Technologies, Inc		2,627
	36,981		Belden CDT, Inc		854
	14,781	*	Brush Engineered Materials, Inc		362
	34,840		Carpenter Technology Corp		815
	38,600	*	Century Aluminum Co		361
	72,244	*	CommScope, Inc		2,162

312

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	1,200,532		Corning, Inc	$	18,380
	15,305		Encore Wire Corp		342
	10,195	*	Fushi Copperweld, Inc		86
	40,791	*	General Cable Corp		1,597
	27,239	*	General Steel Holdings, Inc		106
	20,138		Gibraltar Industries, Inc		267
	8,302	*	Haynes International, Inc		264
	24,699	*	Horsehead Holding Corp		289
	42,693		Hubbell, Inc (Class B)		1,793
	24,024		Matthews International Corp (Class A)		850
	39,317	*	Metalico, Inc		164
	27,916		Mueller Industries, Inc		666
	8,845	*	Northwest Pipe Co		297
	242,591		Nucor Corp		11,404
	9,331		Olympic Steel, Inc		268
	108,069		Precision Castparts Corp		11,009
	23,200	*	RTI International Metals, Inc		578
	16,575		Schnitzer Steel Industries, Inc (Class A)		883
	165,292		Steel Dynamics, Inc		2,536
	17,419		Texas Industries, Inc		731
	61,371		Titanium Metals Corp		589
	24,156		Tredegar Corp		350
	109,614		United States Steel Corp		4,864
	4,623	*	Universal Stainless & Alloy		84
	60,823	*	Uranium Energy Corp		179
	46,555		Worthington Industries, Inc		647
			TOTAL PRIMARY METAL INDUSTRIES		77,933
PRINTING AND PUBLISHING - 0.31%
	49,506	*	ACCO Brands Corp		357
	34,915		American Greetings Corp (Class A)		779
	59,879		Belo (A.H.) Corp (Class A)		324
	23,523		Bowne & Co, Inc		181
	16,074	*	China Information Security Technology, Inc		89
	8,210	*	Consolidated Graphics, Inc		205
	6,267		Courier Corp		95
	5,480		CSS Industries, Inc		108
	23,101	*	Dolan Media Co		277
	41,847		Dun & Bradstreet Corp		3,152
	17,307		Ennis, Inc		279
	21,197		EW Scripps Co (Class A)		159
	177,581		Gannett Co, Inc		2,222
	33,505		Harte-Hanks, Inc		463
	30,975		John Wiley & Sons, Inc (Class A)		1,077
	51,243		Journal Communications, Inc (Class A)		189
	19,558	*	Martha Stewart Living Omnimedia, Inc (Class A)		122

313

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	243,949		McGraw-Hill Cos, Inc	$	6,133
	26,535		Meredith Corp		794
	76,747	*	MSCI, Inc (Class A)		2,273
	5,947		Multi-Color Corp		92
	81,235		New York Times Co (Class A)		660
	12,663	*	Playboy Enterprises, Inc (Class B)		38
	31,380		Primedia, Inc		79
	157,353		R.R. Donnelley & Sons Co		3,345
	10,767		Schawk, Inc (Class A)		126
	17,418		Scholastic Corp		424
	10,680		Standard Register Co		63
	40,793	*	Valassis Communications, Inc		729
	4,829		Washington Post Co (Class B)		2,261
			TOTAL PRINTING AND PUBLISHING		27,095
RAILROAD TRANSPORTATION - 0.75%
	203,576		Burlington Northern Santa Fe Corp		16,251
	302,220		CSX Corp		12,651
	28,715	*	Genesee & Wyoming, Inc (Class A)		871
	69,698	*	Kansas City Southern Industries, Inc		1,846
	283,076		Norfolk Southern Corp		12,203
	389,389		Union Pacific Corp		22,722
			TOTAL RAILROAD TRANSPORTATION		66,544
REAL ESTATE - 0.09%
	181,348	*	CB Richard Ellis Group, Inc (Class A)		2,128
	20,046	*	China Housing & Land Development, Inc		77
	4,977		Consolidated-Tomoka Land Co		191
	20,453		DuPont Fabros Technology, Inc		273
	84,802		Forest City Enterprises, Inc (Class A)		1,134
	29,389	*	Forestar Real Estate Group, Inc		505
	8,800	*	Government Properties Income Trust		211
	32,173		Jones Lang LaSalle, Inc		1,524
	19,220	*	LoopNet, Inc		174
	13,593	*	Reading International, Inc		56
	70,149	*	St. Joe Co		2,043
	68,986		Stewart Enterprises, Inc (Class A)		361
			TOTAL REAL ESTATE		8,677
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.16%
	21,213		A. Schulman, Inc		423
	5,113	*	AEP Industries, Inc		204
	43,609		Cooper Tire & Rubber Co		767
	9,928	*	Deckers Outdoor Corp		842
	183,380	*	Goodyear Tire & Rubber Co		3,123
	10,182	*	Metabolix, Inc		105

314

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	211,403		Newell Rubbermaid, Inc	$	3,317
	120,927		Sealed Air Corp		2,375
	23,839	*	Skechers U.S.A., Inc (Class A)		409
	25,932		Spartech Corp		279
	27,247		Titan International, Inc		242
	13,203	*	Trex Co, Inc		240
	48,152		Tupperware Corp		1,922
	26,348		West Pharmaceutical Services, Inc		1,070
			TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		15,318
SECURITY AND COMMODITY BROKERS - 2.55%
	195,486		Ameriprise Financial, Inc		7,102
	15,421		BlackRock, Inc		3,344
	40,153	*	Broadpoint Securities Group, Inc		335
	110,905		Broadridge Financial Solutions, Inc		2,229
	16,951		Calamos Asset Management, Inc (Class A)		221
	736,490		Charles Schwab Corp		14,104
	51,280		CME Group, Inc		15,804
	12,285		Cohen & Steers, Inc		295
	1,420		Diamond Hill Investment Group, Inc		82
	12,546		Duff & Phelps Corp		240
	1,133,585	*	E*Trade Financial Corp		1,984
	89,258		Eaton Vance Corp		2,498
	6,384		Epoch Holding Corp		56
	6,807		Evercore Partners, Inc (Class A)		199
	20,447	*	FBR Capital Markets Corp		121
	16,378	*	FCStone Group, Inc		79
	69,691		Federated Investors, Inc (Class B)		1,838
	22,257		Fifth Street Finance Corp		243
	116,839		Franklin Resources, Inc		11,754
	6,584		GAMCO Investors, Inc (Class A)		301
	54,396		GFI Group, Inc		393
	387,874		Goldman Sachs Group, Inc		71,505
	15,750		Greenhill & Co, Inc		1,411
	31,233	*	Interactive Brokers Group, Inc (Class A)		621
	56,042	*	IntercontinentalExchange, Inc		5,447
	3,172	*	International Assets Holding Corp		52
	318,717		Invesco Ltd		7,254
	33,274	*	Investment Technology Group, Inc		929
	137,373		Janus Capital Group, Inc		1,948
	89,727	*	Jefferies Group, Inc		2,443
	11,011		JMP Group, Inc		106
	26,819	*	KBW, Inc		864
	70,728	*	Knight Capital Group, Inc (Class A)		1,538
	37,720	*	LaBranche & Co, Inc		128
	58,754		Lazard Ltd (Class A)		2,427

315

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	123,819		Legg Mason, Inc	$	3,842
	21,429	*	MarketAxess Holdings, Inc		258
	79,055	*	MF Global Ltd		575
	1,051,651		Morgan Stanley		32,475
	14,941	*	Morningstar, Inc		726
	103,270	*	Nasdaq Stock Market, Inc		2,174
	199,986		NYSE Euronext		5,778
	7,363		Oppenheimer Holdings, Inc		179
	30,987		optionsXpress Holdings, Inc		535
	15,186	*	Penson Worldwide, Inc		148
	15,010	*	Piper Jaffray Cos		716
	9,591	*	Pzena Investment Management, Inc (Class A)		78
	75,031		Raymond James Financial, Inc		1,747
	8,937		Sanders Morris Harris Group, Inc		53
	95,014		SEI Investments Co		1,870
	23,214	*	Stifel Financial Corp		1,274
	19,558		SWS Group, Inc		282
	196,716		T Rowe Price Group, Inc		8,990
	203,909	*	TD Ameritrade Holding Corp		4,001
	98	m	Teton Advisors, Inc		0	^
	15,283	*	Thomas Weisel Partners Group, Inc		82
	8,114		US Global Investors, Inc (Class A)		100
	800		Value Line, Inc		25
	65,258		Waddell & Reed Financial, Inc (Class A)		1,857
	3,869		Westwood Holdings Group, Inc		134
			TOTAL SECURITY AND COMMODITY BROKERS		227,794
SOCIAL SERVICES - 0.00%**
	15,384	*	Capital Senior Living Corp		94
	8,598	*	Providence Service Corp		100
	19,452	*	Res-Care, Inc		276
			TOTAL SOCIAL SERVICES		470
SPECIAL TRADE CONTRACTORS - 0.09%
	2,319		Alico, Inc		68
	23,315	*	AsiaInfo Holdings, Inc		466
	17,483		Chemed Corp		767
	28,901		Comfort Systems USA, Inc		335
	32,076	*	Dycom Industries, Inc		395
	50,074	*	EMCOR Group, Inc		1,267
	32,339	*	Insituform Technologies, Inc (Class A)		619
	10,880	*	Integrated Electrical Services, Inc		88
	13,874	*	Layne Christensen Co		445
	151,377	*	Quanta Services, Inc		3,350
			TOTAL SPECIAL TRADE CONTRACTORS		7,800

316

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
STONE, CLAY, AND GLASS PRODUCTS - 0.61%
	537,532		3M Co	$	39,669
	25,458		Apogee Enterprises, Inc		382
	18,135	*	Cabot Microelectronics Corp		632
	15,540		CARBO Ceramics, Inc		801
	33,735		Eagle Materials, Inc		964
	105,796		Gentex Corp		1,497
	34,691		Martin Marietta Materials, Inc		3,194
	65,642	*	Owens Corning, Inc		1,474
	128,673	*	Owens-Illinois, Inc		4,748
	23,708	*	US Concrete, Inc		41
	32,462	*	USG Corp		558
			TOTAL STONE, CLAY, AND GLASS PRODUCTS		53,960
TEXTILE MILL PRODUCTS - 0.04%
	23,047		Albany International Corp (Class A)		447
	38,561		Interface, Inc (Class A)		320
	42,112	*	Mohawk Industries, Inc		2,008
	10,106		Oxford Industries, Inc		199
			TOTAL TEXTILE MILL PRODUCTS		2,974
TOBACCO PRODUCTS - 1.33%
	1,598,895		Altria Group, Inc		28,476
	115,699		Fortune Brands, Inc		4,973
	130,094		Lorillard, Inc		9,666
	1,516,441		Philip Morris International, Inc		73,911
	19,118		Universal Corp		800
	30,746		Vector Group Ltd		479
			TOTAL TOBACCO PRODUCTS		118,305
TRANSPORTATION BY AIR - 0.46%
	7,464	*	Air Methods Corp		243
	43,342	*	Air Transport Services Group, Inc		150
	94,997	*	Airtran Holdings, Inc		594
	28,857	*	Alaska Air Group, Inc		773
	12,958	*	Allegiant Travel Co		494
	216,466	*	AMR Corp		1,721
	13,153	*	Atlas Air Worldwide Holdings, Inc		420
	22,421	*	Bristow Group, Inc		666
	106,996	*	Continental Airlines, Inc (Class B)		1,759
	23,678		Copa Holdings S.A. (Class A)		1,053
	591,250	*	Delta Air Lines, Inc		5,298
	240,889		FedEx Corp		18,119
	53,091	*	Hawaiian Holdings, Inc		439
	195,814	*	JetBlue Airways Corp		1,171
	9,723	*	PHI, Inc		197

317

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,015	*	Republic Airways Holdings, Inc	$	215
	45,222		Skywest, Inc		750
	564,735		Southwest Airlines Co		5,421
	108,820		UAL Corp		1,003
	104,971	*	US Airways Group, Inc		493
			TOTAL TRANSPORTATION BY AIR		40,979
TRANSPORTATION EQUIPMENT - 2.26%
	15,857		A.O. Smith Corp		604
	29,552	*	AAR Corp		648
	9,735	*	Aerovironment, Inc		273
	42,925		American Axle & Manufacturing Holdings, Inc		304
	7,032		American Railcar Industries, Inc		75
	15,097	*	Amerigon, Inc (Class A)		111
	57,384		ArvinMeritor, Inc		449
	14,702	*	ATC Technology Corp		291
	64,693		Autoliv, Inc		2,174
	74,030	*	BE Aerospace, Inc		1,491
	560,698		Boeing Co		30,363
	73,449		Brunswick Corp		880
	38,932		Clarcor, Inc		1,221
	18,024	*	Cogo Group, Inc		110
	90,258	*	Dana Holding Corp		615
	7,682	*	Dorman Products, Inc		115
	7,637		Ducommun, Inc		144
	13,635	*	Federal Mogul Corp (Class A)		165
	34,017		Federal Signal Corp		245
	56,935	*	Force Protection, Inc		311
	2,409,234	*	Ford Motor Co		17,370
	8,920		Freightcar America, Inc		217
	10,861	*	Fuel Systems Solutions, Inc		391
	42,477	*	GenCorp, Inc		228
	266,969		General Dynamics Corp		17,246
	7,281	*	GenTek, Inc		277
	124,310		Genuine Parts Co		4,731
	95,802		Goodrich Corp		5,206
	12,975		Greenbrier Cos, Inc		152
	17,217		Group 1 Automotive, Inc		462
	182,315		Harley-Davidson, Inc		4,193
	61,544		Harsco Corp		2,179
	18,067		Heico Corp		783
	574,706		Honeywell International, Inc		21,351
	21,747		Kaman Corp		478
	6,398	*	LMI Aerospace, Inc		64
	245,905		Lockheed Martin Corp		19,200
	7,280	*	Miller Industries, Inc		80

318

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	47,845	*	Navistar International Corp	$	1,790
	44,747	*	Orbital Sciences Corp		670
	68,619		Oshkosh Truck Corp		2,122
	280,865		Paccar, Inc		10,591
	24,262		Polaris Industries, Inc		989
	5,233		Portec Rail Products, Inc		50
	30,024		Spartan Motors, Inc		154
	82,916	*	Spirit Aerosystems Holdings, Inc (Class A)		1,497
	11,969	*	Standard Motor Products, Inc		182
	17,715		Superior Industries International, Inc		252
	39,420	*	Tenneco, Inc		514
	28,300		Thor Industries, Inc		876
	4,238	*	Todd Shipyards Corp		70
	32,065	*	TransDigm Group, Inc		1,597
	61,064		Trinity Industries, Inc		1,050
	13,981		Triumph Group, Inc		671
	41,773	*	TRW Automotive Holdings Corp		700
	647,236		United Technologies Corp		39,437
	38,351		Westinghouse Air Brake Technologies Corp		1,439
	24,826	*	Winnebago Industries, Inc		365
	10,178	*	Wonder Auto Technology, Inc		122
			TOTAL TRANSPORTATION EQUIPMENT		200,335
TRANSPORTATION SERVICES - 0.19%
	14,656		Ambassadors Group, Inc		229
	131,545		CH Robinson Worldwide, Inc		7,596
	8,003	*	Dynamex, Inc		131
	163,062		Expeditors International Washington, Inc		5,732
	35,663		GATX Corp		997
	28,305	*	Hub Group, Inc (Class A)		647
	26,504	*	Interval Leisure Group, Inc		331
	20,000	*	Orbitz Worldwide, Inc		124
	26,631		Pacer International, Inc		103
	7,904	*	Universal Travel Group		102
	81,226		UTI Worldwide, Inc		1,176
			TOTAL TRANSPORTATION SERVICES		17,168
TRUCKING AND WAREHOUSING - 0.44%
	19,331		Arkansas Best Corp		579
	16,346	*	Celadon Group, Inc		185
	37,901		Con-way, Inc		1,452
	22,919		Forward Air Corp		531
	39,254		Heartland Express, Inc		565
	66,499		J.B. Hunt Transport Services, Inc		2,137
	40,073		Landstar System, Inc		1,525
	14,139	*	Marten Transport Ltd		241

319

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	21,283	*	Old Dominion Freight Line	$	648
	1,137	*	Patriot Transportation Holding, Inc		86
	9,635	*	Saia, Inc		155
	535,324		United Parcel Service, Inc (Class B)		30,230
	3,884		Universal Truckload Services, Inc		64
	5,744	*	USA Truck, Inc		73
	31,101		Werner Enterprises, Inc		579
	66,066	*	YRC Worldwide, Inc		294
			TOTAL TRUCKING AND WAREHOUSING		39,344
WATER TRANSPORTATION - 0.26%
	30,756		Alexander & Baldwin, Inc		987
	8,786	*	American Commercial Lines, Inc		256
	338,303		Carnival Corp		11,258
	38,961		DHT Maritime, Inc		146
	51,764	*	Eagle Bulk Shipping, Inc		266
	39,564		Frontline Ltd		925
	20,776		Genco Shipping & Trading Ltd		432
	37,255		General Maritime Corp		288
	24,752		Golar LNG Ltd		274
	19,461	*	Gulfmark Offshore, Inc		637
	23,837		Horizon Lines, Inc (Class A)		151
	18,746	*	Hornbeck Offshore Services, Inc		517
	4,290		International Shipholding Corp		132
	41,752	*	Kirby Corp		1,536
	11,975		Knightsbridge Tankers Ltd		156
	32,302		Nordic American Tanker Shipping		956
	28,315	*	Odyssey Marine Exploration, Inc		53
	18,001		Overseas Shipholding Group, Inc		673
	100,520	*	Royal Caribbean Cruises Ltd		2,421
	34,031		Ship Finance International Ltd		418
	10,426	*	TBS International Ltd (Class A)		91
	32,878		Teekay Corp		719
	9,000		Teekay Tankers Ltd (Class A)		75
	18,066	*	Ultrapetrol Bahamas Ltd		89
			TOTAL WATER TRANSPORTATION		23,456
WHOLESALE TRADE-DURABLE GOODS - 0.36%
	18,766		Agilysys, Inc		124
	30,894		Applied Industrial Technologies, Inc		654
	92,479	*	Arrow Electronics, Inc		2,603
	34,240		Barnes Group, Inc		585
	35,044	*	Beacon Roofing Supply, Inc		560
	88,459		BorgWarner, Inc		2,676
	8,096	*	Cardtronics, Inc		63
	11,808		Castle (A.M.) & Co		117

320

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,056	*	Chindex International, Inc	$	101
	4,580		Communications Systems, Inc		53
	25,681	*	Conceptus, Inc		476
	14,464	*	DemandTec, Inc		128
	18,652	*	Digi International, Inc		159
	16,941	*	Drew Industries, Inc		367
	4,502		Eastern Co		72
	21,300	*	Emdeon, Inc		345
	12,096	*	Hansen Medical, Inc		42
	12,024		Houston Wire & Cable Co		133
	124,256	*	Ingram Micro, Inc (Class A)		2,094
	34,716	*	Insight Enterprises, Inc		424
	23,318	*	Interline Brands, Inc		393
	42,424		Knight Transportation, Inc		712
	3,000		Lawson Products, Inc		52
	107,267	*	LKQ Corp		1,989
	11,350	*	MedAssets, Inc		256
	19,916	*	Merge Healthcare, Inc		82
	8,104	*	MWI Veterinary Supply, Inc		324
	32,272		Owens & Minor, Inc		1,460
	77,203	*	Patterson Cos, Inc		2,105
	37,199		PEP Boys - Manny Moe & Jack		363
	38,375		Pool Corp		853
	47,208	*	PSS World Medical, Inc		1,031
	48,117		Reliance Steel & Aluminum Co		2,048
	53,265		Solera Holdings, Inc		1,657
	6,849		Sport Supply Group, Inc		70
	38,960	*	Tech Data Corp		1,621
	10,213	*	Titan Machinery, Inc		128
	29,444	*	TomoTherapy, Inc		127
	27,050	*	Tyler Technologies, Inc		462
	48,076		W.W. Grainger, Inc		4,296
	32,103	*	WESCO International, Inc		925
	11,292	*	West Marine, Inc		89
	3,600	*	Willis Lease Finance Corp		49
			TOTAL WHOLESALE TRADE-DURABLE GOODS		32,868
WHOLESALE TRADE-NONDURABLE GOODS - 0.60%
	17,815		Aceto Corp		118
	62,264		Airgas, Inc		3,011
	31,521	*	Akorn, Inc		43
	68,179	*	Alliance One International, Inc		305
	49,159		Allscripts Healthcare Solutions, Inc		996
	13,080		Andersons, Inc		460
	51,120	*	Bare Escentuals, Inc		608
	31,488	*	BioScrip, Inc		213

321

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,314	*	BMP Sunstone Corp	$	79
	70,721		Brown-Forman Corp (Class B)		3,410
	278,126		Cardinal Health, Inc		7,454
	39,921	*	Central European Distribution Corp		1,308
	9,887	*	Clearwater Paper Corp		409
	7,034	*	Core-Mark Holding Co, Inc		201
	136,917	*	Dean Foods Co		2,436
	90,528	*	Endo Pharmaceuticals Holdings, Inc		2,049
	33,010	*	Fresh Del Monte Produce, Inc		746
	26,566	*	Green Mountain Coffee Roasters, Inc		1,962
	30,203	*	Hain Celestial Group, Inc		579
	69,753	*	Henry Schein, Inc		3,830
	48,187		Herbalife Ltd		1,578
	6,203		Kenneth Cole Productions, Inc (Class A)		62
	19,366		K-Swiss, Inc (Class A)		170
	16,187	*	LSB Industries, Inc		252
	45,303		Men’s Wearhouse, Inc		1,120
	24,388		Myers Industries, Inc		263
	10,977		Nash Finch Co		300
	38,826		Nu Skin Enterprises, Inc (Class A)		719
	9,998	*	Perry Ellis International, Inc		160
	9,325		Schiff Nutrition International, Inc		49
	14,249	*	School Specialty, Inc		338
	18,527		Spartan Stores, Inc		262
	14,223	*	Synutra International, Inc		195
	458,524		Sysco Corp		11,394
	77,583		Terra Industries, Inc		2,690
	27,432	*	Tractor Supply Co		1,329
	33,743	*	United Natural Foods, Inc		807
	18,197	*	United Stationers, Inc		865
	6,399		Valhi, Inc		78
	13,192	*	Volcom, Inc		217
	15,316		Zep, Inc		249
	12,850	*	Zhongpin, Inc		189
			TOTAL WHOLESALE TRADE-NONDURABLE GOODS		53,503
			TOTAL COMMON STOCKS		8,886,397
			(Cost $8,573,525)
RIGHTS / WARRANTS 0.00%**
EATING AND DRINKING PLACES 0.00%
	2,604		Krispy Kreme Doughnuts, Inc		0	^
			TOTAL EATING AND DRINKING PLACES		0	^
			TOTAL RIGHTS / WARRANTS		0	^
			(Cost $0)

322

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
SHORT TERM INVESTMENTS - 0.02%
U.S. TREASURY BILLS - 0.02%
$	1,400,000	United States Treasury Bill	0.000	%	10/15/09	$	1,400
		TOTAL U.S. TREASURY BILLS					1,400
		TOTAL SHORT-TERM INVESTMENTS					1,400
		(Cost $1,400)
		TOTAL PORTFOLIO - 99.67%					8,887,797
		(Cost $8,574,925)
		OTHER ASSETS AND LIABILITIES, NET - 0.33%					29,859
		NET ASSETS - 100.00%				$	8,917,656

*	Non-income producing
**	Percentage represents less than 0.01%
^	Amount represents less than $1,000.
c	All or a portion of these securities have been segregated by the Custodian to cover margin or other requirements on open futures contracts in the amount of $1,702,077.
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.
	At September 30, 2009, the net unrealized appreciation on investment was $312,871,951, consisting of gross unrealized appreciation of $1,911,303,288 and gross unrealized depreciation of $(1,598,431,337).

Open Futures Contracts	Number of Contracts		Market Value		Expiration Date	Unrealized Appreciation
E-mini Russell 2000 Index		30	$	1,809,000	December 2009	$	21,476
E-mini S&P 400 Mid-Cap Index		26		1,791,920	December 2009		20,871
E-mini S&P 500 Index		274		14,424,730	December 2009		164,187
						$	206,534

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND
BOND MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2009

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†		VALUE (000)
BONDS - 98.62%
CORPORATE BONDS - 29.28%
AGENCY SECURITIES - 2.46%
	$     34,000,000	p	Citigroup Funding, Inc	2.000%	3/30/2012	Aaa	$	34,373
	40,000,000	p	Citigroup Funding, Inc	1.880	10/22/2012	Aaa		40,077
	12,000,000	p	Citigroup Funding, Inc	2.250	12/10/2012	Aaa		12,162
	61,500,000	p	General Electric Capital Corp	2.250	3/12/2012	Aaa		62,610
	37,400,000	p	General Electric Capital Corp	2.200	6/8/2012	Aaa		37,978
	61,800,000	p	GMAC, Inc	2.200	12/19/2012	Aaa		62,460
			TOTAL AGENCY SECURITIES					249,660
AMUSEMENT AND RECREATION SERVICES - 0.19%
	2,000,000	g	Ameristar Casinos, Inc	9.250	6/1/2014	B2		2,075
	2,175,000	g	Peninsula Gaming LLC	8.380	8/15/2015	Ba2		2,175
	1,000,000	g	Penn National Gaming, Inc	8.750	8/15/2019	B1		1,003
	2,000,000		Speedway Motorsports, Inc	6.750	6/1/2013	Ba2		1,975
	3,750,000		Walt Disney Co	5.700	7/15/2011	A2		4,014
	7,825,000		Walt Disney Co	4.500	12/15/2013	A2		8,351
			TOTAL AMUSEMENT AND RECREATION SERVICES					19,593
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.08%
	2,150,000		Home Depot, Inc	5.250	12/16/2013	Baa1		2,291
	3,900,000		Home Depot, Inc	5.880	12/16/2036	Baa1		3,784
	1,850,000		Lowe’s Cos, Inc	8.250	6/1/2010	A1		1,942
			TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					8,017
BUSINESS SERVICES - 0.39%
	2,000,000		Ceridian Corp	11.250	11/15/2015	Caa2		1,792
	3,250,000		Daimler Finance North America LLC	5.880	3/15/2011	A3		3,373
	7,400,000		Daimler Finance North America LLC	5.750	9/8/2011	A3		7,772
	4,500,000		Hanarotelecom, Inc	7.000	2/1/2012	Baa3		4,624
	3,970,000		Interpublic Group of Cos, Inc	6.250	11/15/2014	Ba3		3,757
	1,000,000		Iron Mountain, Inc	7.750	1/15/2015	B2		1,008
	840,000		Iron Mountain, Inc	8.380	8/15/2021	B2		865
	4,190,000		Lamar Media Corp	7.250	1/1/2013	B2		4,122
	375,000		Lamar Media Corp	6.630	8/15/2015	B2		343
	1,500,000		Lender Processing Services, Inc	8.130	7/1/2016	Ba2		1,560
	3,100,000		Oracle Corp	4.950	4/15/2013	A2		3,355
	3,925,000		Oracle Corp	3.750	7/8/2014	A2		4,078
	2,310,000		Sungard Data Systems, Inc	10.250	8/15/2015	Caa1		2,356
			TOTAL BUSINESS SERVICES					39,005

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†		VALUE (000)
CHEMICALS AND ALLIED PRODUCTS - 1.11%
	$     1,550,000		Abbott Laboratories	5.600%	5/15/2011	A1	$	1,659
	4,600,000		Air Products & Chemicals, Inc	4.150	2/1/2013	A2		4,800
	6,630,000		Air Products & Chemicals, Inc	4.380	8/21/2019	A2		6,771
	1,000,000		Amgen, Inc	5.850	6/1/2017	A3		1,100
	2,500,000		Amgen, Inc	6.400	2/1/2039	A3		2,866
	1,570,000		Clorox Co	5.450	10/15/2012	Baa2		1,683
	3,175,000		Colgate-Palmolive Co	3.150	8/5/2015	Aa2		3,256
	9,400,000		Eli Lilly & Co	3.550	3/6/2012	A1		9,844
	2,325,000		Eli Lilly & Co	5.950	11/15/2037	A1		2,644
	7,575,000		GlaxoSmithKline Capital, Inc	5.650	5/15/2018	A1		8,298
	3,760,000		GlaxoSmithKline Capital, Inc	6.380	5/15/2038	A1		4,433
	4,000,000		Johnson & Johnson	5.850	7/15/2038	Aaa		4,502
	10,500,000		Novartis Capital Corp	4.130	2/10/2014	Aa2		11,088
	10,000,000		Pfizer, Inc	4.450	3/15/2012	Aa2		10,622
	7,150,000		Pfizer, Inc	6.200	3/15/2019	Aa2		8,059
	7,100,000		Potash Corp of Saskatchewan, Inc	4.880	3/30/2020	Baa1		7,093
	5,050,000		Praxair, Inc	5.250	11/15/2014	A2		5,597
	9,275,000		Procter & Gamble Co	4.600	1/15/2014	Aa3		9,964
	4,975,000		Procter & Gamble Co	5.550	3/5/2037	Aa3		5,357
	3,225,000		Schering-Plough Corp	6.550	9/15/2037	Baa1		3,912
			TOTAL CHEMICALS AND ALLIED PRODUCTS					113,548
COAL MINING - 0.03%
	1,000,000	g	Arch Coal, Inc	8.750	8/1/2016	B1		1,030
	2,000,000		Peabody Energy Corp	7.380	11/1/2016	Ba1		2,020
			TOTAL COAL MINING					3,050
COMMUNICATIONS - 2.99%
	2,400,000		America Movil SAB de C.V.	6.130	11/15/2037	A3		2,425
	3,000,000		AT&T Corp	7.300	11/15/2011	A2		3,323
	4,650,000		AT&T, Inc	4.950	1/15/2013	A2		4,958
	2,000,000		AT&T, Inc	6.150	9/15/2034	A2		2,044
	7,475,000		AT&T, Inc	6.500	9/1/2037	A2		8,032
	7,650,000		AT&T, Inc	6.550	2/15/2039	A2		8,340
	2,570,000	g	Axtel SAB de C.V.	9.000	9/22/2019	Ba2		2,609
	13,125,000		BellSouth Corp	5.200	9/15/2014	A2		14,210
	14,950,000	g	Cellco Partnership	3.750	5/20/2011	A2		15,424
	10,725,000	g	Cellco Partnership	5.550	2/1/2014	A2		11,590
	15,600,000	g	Cellco Partnership	8.500	11/15/2018	A2		19,480
	1,011,000		Comcast Cable Communications Holdings, Inc	8.380	3/15/2013	Baa1		1,174
	2,125,000		Comcast Corp	5.650	6/15/2035	Baa1		2,055
	2,750,000		Comcast Corp	6.500	11/15/2035	Baa1		2,930
	3,500,000		Comcast Corp	6.550	7/1/2039	Baa1		3,740
	2,000,000	g	Cricket Communications, Inc	7.750	5/15/2016	Ba2		2,030
	1,455,000	g	CSC Holdings, Inc	8.500	4/15/2014	Ba3		1,528
	4,000,000		Deutsche Telekom International Finance BV	8.750	6/15/2030	Baa1		5,180
	3,875,000	g	DirecTV Holdings LLC	4.750	10/1/2014	Ba2		3,875
	4,740,000		DirecTV Holdings LLC	7.630	5/15/2016	Ba2		5,072
	11,650,000	g	DirecTV Holdings LLC	5.880	10/1/2019	Ba2		11,577
	2,000,000	g	DISH DBS Corp	7.880	9/1/2019	Ba3		2,020
	3,200,000		France Telecom S.A.	7.750	3/1/2011	A3		3,465
	3,825,000		France Telecom S.A.	5.380	7/8/2019	A3		4,068
	2,000,000		Frontier Communications Corp	8.250	5/1/2014	Ba2		2,060
	1,500,000		Grupo Televisa S.A.	6.000	5/15/2018	Baa1		1,507
	1,150,000		GTE Corp	6.840	4/15/2018	Baa1		1,253
	3,000,000	g	Intelsat Subsidiary Holding Co Ltd	8.880	1/15/2015	B3		3,038

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†		VALUE (000)
	$     2,000,000		MetroPCS Wireless, Inc	9.250%	11/1/2014	B2	$	2,045
	4,000,000		New Cingular Wireless Services, Inc	7.880	3/1/2011	A2		4,341
	4,750,000		New Cingular Wireless Services, Inc	8.750	3/1/2031	A2		6,292
	3,000,000		Qwest Communications International, Inc	7.250	2/15/2011	Ba3		3,041
	4,500,000		Qwest Corp	8.880	3/15/2012	Ba1		4,736
	500,000		Rogers Cable, Inc	6.750	3/15/2015	Baa2		562
	2,500,000		Rogers Wireless, Inc	8.000	12/15/2012	Baa3		2,569
	2,000,000	g	SBA Telecommunications, Inc	8.000	8/15/2016	Ba2		2,045
	4,500,000		Sprint Capital Corp	8.750	3/15/2032	Ba2		4,253
	1,225,000		Sprint Nextel Corp	6.000	12/1/2016	Ba2		1,093
	3,075,000		Telecom Italia Capital S.A.	6.180	6/18/2014	Baa2		3,336
	6,300,000		Telecom Italia Capital S.A.	4.950	9/30/2014	Baa2		6,519
	2,825,000		Telecom Italia Capital S.A.	7.000	6/4/2018	Baa2		3,122
	5,975,000		Telecom Italia Capital S.A.	7.180	6/18/2019	Baa2		6,667
	4,800,000		Telefonica Emisiones SAU	5.880	7/15/2019	Baa1		5,215
	4,500,000	g	Telemar Norte Leste S.A.	9.500	4/23/2019	Baa2		5,378
	5,495,000		Time Warner Cable, Inc	6.200	7/1/2013	Baa2		5,986
	9,000,000		Time Warner Cable, Inc	5.850	5/1/2017	Baa2		9,489
	6,075,000		Time Warner Cable, Inc	6.750	7/1/2018	Baa2		6,711
	7,100,000		Time Warner Cable, Inc	8.750	2/14/2019	Baa2		8,747
	9,675,000		Time Warner Cable, Inc	8.250	4/1/2019	Baa2		11,694
	5,550,000		Verizon Communications, Inc	4.350	2/15/2013	A3		5,835
	2,905,000		Verizon Communications, Inc	8.750	11/1/2018	A3		3,629
	5,550,000		Verizon Communications, Inc	6.350	4/1/2019	A3		6,129
	2,900,000		Verizon Communications, Inc	6.400	2/15/2038	A3		3,099
	6,975,000		Verizon Communications, Inc	8.950	3/1/2039	A3		9,556
	6,500,000		Verizon Virginia, Inc	4.630	3/15/2013	Baa1		6,752
	3,875,000		Viacom, Inc	4.380	9/15/2014	Baa3		3,957
	1,635,000		Viacom, Inc	6.130	10/5/2017	Baa3		1,751
	2,000,000		Vodafone Group plc	5.000	12/16/2013	Baa1		2,133
	3,100,000		Vodafone Group plc	4.150	6/10/2014	Baa1		3,183
	3,800,000		Vodafone Group plc	5.380	1/30/2015	Baa1		4,072
			TOTAL COMMUNICATIONS					302,944
DEPOSITORY INSTITUTIONS - 6.09%
	2,550,000		American Express Co	7.000	3/19/2018	A3		2,805
	5,125,000		American Express Co	8.130	5/20/2019	A3		6,061
	4,500,000	g	Banco Bradesco S.A.	6.750	9/29/2019	Baa2		4,641
	28,000,000	p	Bank of America Corp	2.380	6/22/2012	Aaa		28,551
	3,050,000		Bank of America Corp	4.900	5/1/2013	A2		3,127
	4,850,000		Bank of America Corp	7.380	5/15/2014	A2		5,396
	8,525,000		Bank of America Corp	6.000	9/1/2017	A2		8,625
	5,725,000		Bank of America Corp	5.750	12/1/2017	A2		5,715
	3,850,000		Bank of America Corp	7.630	6/1/2019	A2		4,338
	18,550,000		Bank of America NA	5.300	3/15/2017	A1		17,795
	5,700,000		Bank of New York Mellon Corp	4.300	5/15/2014	Aa2		6,036
	4,125,000		Bank of New York Mellon Corp	5.450	5/15/2019	Aa2		4,459
	4,250,000		Bank One Corp	5.250	1/30/2013	A1		4,489
	3,750,000		Barclays Bank plc	5.200	7/10/2014	Aa3		3,961
	1,250,000	i	BB&T Capital Trust IV	6.820	6/12/2057	A2		1,013
	6,000,000		BB&T Corp	3.850	7/27/2027	A1		6,189
	7,500,000		Capital One Bank USA NA	8.800	7/15/2019	A3		8,670
	5,000,000		Capital One Capital V	10.250	8/15/2039	Baa2		5,525
	5,150,000		Capital One Financial Corp	5.700	9/15/2011	Baa1		5,380
	4,000,000	p	CitiBank NA	1.380	8/10/2011	Aaa		4,014
	3,250,000		Citigroup, Inc	5.100	9/29/2011	A3		3,342
	45,500,000	p	Citigroup, Inc	2.130	4/30/2012	Aaa		46,143

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†		VALUE (000)
	$     7,375,000		Citigroup, Inc	5.300%	10/17/2012	A3	$	7,609
	6,655,000		Citigroup, Inc	5.000	9/15/2014	Baa1		6,333
	2,250,000		Citigroup, Inc	5.500	10/15/2014	A3		2,247
	4,525,000		Citigroup, Inc	6.130	5/15/2018	A3		4,456
	7,875,000		Citigroup, Inc	8.500	5/22/2019	A3		8,890
	7,575,000		Citigroup, Inc	6.880	3/5/2038	A3		7,598
	3,825,000		Citigroup, Inc	8.130	7/15/2039	A3		4,282
	8,550,000		Credit Suisse	5.000	5/15/2013	Aa1		9,049
	8,250,000		Credit Suisse	5.500	5/1/2014	Aa1		8,865
	8,000,000		Credit Suisse	5.300	8/13/2019	Aa1		8,203
	45,000,000	g	Depfa ACS Bank	5.130	3/16/2037	Aa2		33,895
	3,500,000		Deutsche Bank AG.	4.880	5/20/2013	Aa1		3,728
	3,500,000		Golden West Financial Corp	4.750	10/1/2012	A1		3,598
	7,000,000		HSBC Bank USA NA	4.630	4/1/2014	A1		7,225
	3,000,000	g,i	HSBC Capital Funding LP	4.610	12/30/2049	A3		2,351
	2,100,000		HSBC Holdings plc	6.500	9/15/2037	A1		2,271
	3,600,000	i	ING Groep NV	5.780	12/30/2049	Ba1		2,304
	1,000,000		JPMorgan Chase & Co	7.880	6/15/2010	A1		1,045
	50,000,000	p	JPMorgan Chase & Co	3.130	12/1/2011	Aaa		51,881
	4,500,000		JPMorgan Chase & Co	4.500	1/15/2012	Aa3		4,699
	15,000,000	p	JPMorgan Chase & Co	2.130	12/26/2012	Aaa		15,201
	5,500,000		JPMorgan Chase & Co	5.750	1/2/2013	A1		5,870
	7,000,000		JPMorgan Chase & Co	3.700	1/20/2015	Aa3		6,938
	9,770,000		JPMorgan Chase & Co	6.000	1/15/2018	Aa3		10,486
	11,525,000		JPMorgan Chase & Co	6.300	4/23/2019	Aa3		12,582
	3,025,000		JPMorgan Chase & Co	6.400	5/15/2038	Aa3		3,387
	10,000,000	p	KeyBank NA	3.200	6/15/2012	Aaa		10,423
	4,250,000	i	Manufacturers & Traders Trust Co	5.630	12/1/2021	A3		3,445
	10,000,000	p	New York Community Bank	3.000	12/16/2011	Aaa		10,296
	12,750,000		Northern Trust Corp	4.630	5/1/2014	A1		13,567
	5,500,000	g	Principal Life Global Funding I	5.130	10/15/2013	Aa3		5,577
	4,900,000	g,i	Rabobank Nederland NV	11.000	12/30/2049	Aa2		6,003
	10,000,000	p	Regions Bank	3.250	12/9/2011	Aaa		10,403
	4,500,000	g	Shinhan Bank	6.000	6/29/2012	A2		4,726
	6,500,000	p	Sovereign Bank	2.750	1/17/2012	Aaa		6,690
	39,000,000	p	State Street Corp	2.150	4/30/2012	Aaa		39,616
	6,350,000		State Street Corp	4.300	5/30/2014	A1		6,672
	2,000,000		Union Bank of California NA	5.950	5/11/2016	A3		1,989
	15,000,000	p	US Bancorp	2.250	3/13/2012	Aaa		15,278
	5,000,000		US Bank NA	4.950	10/30/2014	Aa2		5,364
	8,275,000		Wachovia Bank NA	4.800	11/1/2014	Aa3		8,398
	2,050,000		Wachovia Bank NA	5.850	2/1/2037	Aa3		1,983
	5,125,000		Wachovia Corp	5.300	10/15/2011	A1		5,430
	2,975,000		Wachovia Corp	5.500	5/1/2013	A1		3,183
	3,530,000		Wells Fargo & Co	5.300	8/26/2011	A1		3,727
	18,400,000	p	Wells Fargo & Co	2.130	6/15/2012	Aaa		18,664
	10,650,000		Wells Fargo Bank NA	4.750	2/9/2015	Aa3		10,799
	3,000,000		Zions Bancorporation	7.750	9/23/2014	Baa3		2,685
			TOTAL DEPOSITORY INSTITUTIONS					616,186
ELECTRIC, GAS, AND SANITARY SERVICES - 2.60%
	2,550,000	g	Abu Dhabi National Energy Co	6.250	9/16/2019	Aa2		2,569
	2,400,000	g	AES Corp	8.750	5/15/2013	Ba3		2,445
	2,250,000		AGL Capital Corp	5.250	8/15/2019	Baa1		2,309
	2,000,000		AGL Capital Corp	6.000	10/1/2034	Baa1		2,018
	8,435,000		Alliant Energy Corp	1.000	10/15/2014	Baa1		8,457
	5,500,000		Atmos Energy Corp	8.500	3/15/2019	Baa2		6,790

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†		VALUE (000)
	$     4,500,000		Carolina Power & Light Co	5.130%	9/15/2013	A1	$	4,867
	4,750,000		Carolina Power & Light Co	5.300	1/15/2019	A1		5,144
	2,750,000		Carolina Power & Light Co	5.700	4/1/2035	A1		2,951
	2,100,000		CenterPoint Energy Houston Electric LLC	7.000	3/1/2014	Baa1		2,387
	4,250,000		CenterPoint Energy Resources Corp	7.880	4/1/2013	Baa3		4,786
	3,550,000		CenterPoint Energy Resources Corp	6.250	2/1/2037	Baa3		3,415
	4,200,000		Commonweatlh Edison Co	5.900	3/15/2036	Baa1		4,464
	2,750,000		Connecticut Light & Power Co	5.500	2/1/2019	A2		2,977
	3,500,000		Consolidated Natural Gas Co	6.250	11/1/2011	Baa2		3,774
	4,250,000		Consolidated Natural Gas Co	5.000	12/1/2014	Baa2		4,503
	3,975,000		Dominion Resources, Inc	5.200	8/15/2019	Baa2		4,127
	7,150,000		Duke Energy Carolinas LLC	5.750	11/15/2013	A1		7,899
	11,500,000		Duke Energy Corp	3.950	9/15/2014	Baa2		11,670
	12,280,000	g	Enel Finance International S.A.	3.880	10/7/2014	A2		12,281
	12,950,000	g	Enel Finance International S.A.	5.130	10/7/2019	A2		12,951
	5,375,000		Energy Transfer Partners LP	9.000	4/15/2019	Baa3		6,463
	4,000,000	g	FirstEnergy Solutions Corp	4.800	2/16/2015	Baa2		4,110
	4,000,000	g	FirstEnergy Solutions Corp	6.050	8/15/2021	Baa2		4,133
	1,860,000		Florida Power & Light Co	4.850	2/1/2013	Aa2		1,986
	8,000,000		Florida Power & Light Co	5.960	4/1/2039	Aa2		9,112
	3,500,000		Florida Power Corp	4.500	6/1/2010	A1		3,585
	2,000,000		Florida Power Corp	6.400	6/15/2038	A1		2,366
	5,000,000		Georgia Power Co	5.950	2/1/2039	A2		5,586
	5,000,000		Indiana Michigan Power Co	7.000	3/15/2019	Baa2		5,762
	1,000,000	g	Kansas Gas & Electric	6.700	6/15/2019	Baa1		1,145
	2,815,000		Kinder Morgan Energy Partners LP	5.850	9/15/2012	Baa2		3,033
	1,150,000		Kinder Morgan Energy Partners LP	5.630	2/15/2015	Baa2		1,234
	2,825,000		Kinder Morgan Energy Partners LP	9.000	2/1/2019	Baa2		3,423
	3,850,000		Kinder Morgan Energy Partners LP	6.500	9/1/2039	Baa2		3,916
	5,000,000	g	Korea Hydro & Nuclear Power Co Ltd	6.250	6/17/2014	A2		5,319
	2,092,000		Mirant North America LLC	7.380	12/31/2013	B1		2,082
	4,000,000		National Fuel Gas Co	5.250	3/1/2013	Baa1		4,083
	2,800,000		Nevada Power Co	6.500	8/1/2018	Baa3		3,063
	3,500,000		Nevada Power Co	6.650	4/1/2036	Baa3		3,815
	3,250,000		NiSource Finance Corp	10.750	3/15/2016	Baa3		3,821
	2,000,000		NRG Energy, Inc	7.250	2/1/2014	B1		1,965
	4,075,000		ONEOK Partners LP	5.900	4/1/2012	Baa2		4,293
	5,250,000		Pacific Gas & Electric Co	8.250	10/15/2018	A3		6,671
	4,090,000		Pacific Gas & Electric Co	6.250	3/1/2039	A3		4,679
	2,750,000		Pacificorp	6.000	1/15/2039	A2		3,079
	6,750,000		PG&E Corp	5.750	4/1/2014	Baa1		7,370
	750,000		Potomac Electric Power Co	7.900	12/15/2038	A3		1,003
	3,825,000		Progress Energy, Inc	7.050	3/15/2019	Baa2		4,454
	2,000,000		Public Service Co of Colorado	7.880	10/1/2012	A2		2,324
	2,825,000		Public Service Co of Colorado	4.880	3/1/2013	A2		2,975
	2,500,000		Public Service Co of Colorado	5.500	4/1/2014	A2		2,736
	2,640,000		Public Service Electric & Gas Co	5.300	5/1/2018	A2		2,826
	2,250,000		Puget Sound Energy, Inc	6.270	3/15/2037	Baa1		2,445
	3,920,000	g	Ras Laffan Liquefied Natural Gas Co Ltd	6.750	9/30/2019	Aa2		4,395
	2,000,000		Sabine Pass LNG LP	7.250	11/30/2013	B2		1,785
	2,100,000		San Diego Gas & Electric Co	6.000	6/1/2039	Aa3		2,405
	2,750,000		Southern California Edison Co	6.000	1/15/2034	A1		3,113
	2,000,000		Spectra Energy Capital LLC	6.250	2/15/2013	Baa2		2,144
	2,600,000		Veolia Environnement	5.250	6/3/2013	A3		2,726
	4,500,000		Virginia Electric and Power Co	4.750	3/1/2013	Baa1		4,735
	3,000,000		Wisconsin Electric Power Co	5.630	5/15/2033	A1		3,194
			TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					262,138

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†		VALUE (000)
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.36%
	$     3,838,000		Analog Devices, Inc	5.000%	7/1/2014	A3	$	4,032
	4,650,000	g	BAE Systems Holdings, Inc	6.400	12/15/2011	Baa2		4,979
	3,130,000	g	Empresas Publicas de Medellin ESP	7.630	7/29/2019	Baa3		3,388
	3,300,000		General Electric Co	5.250	12/6/2017	Aa2		3,387
	1,550,000		Koninklijke Philips Electronics NV	6.880	3/11/2038	A3		1,812
	4,150,000		L-3 Communications Corp	7.630	6/15/2012	Ba2		4,207
	2,255,000	g	L-3 Communications Corp	5.200	10/15/2019	Baa2		2,261
	4,225,000		Nokia OYJ	5.380	5/15/2019	A1		4,497
	2,190,000		Tyco International Finance S.A.	4.130	10/15/2014	Baa1		2,203
	5,600,000		Whirlpool Corp	8.000	5/1/2012	Baa3		6,045
			TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					36,811
EXECUTIVE, LEGISLATIVE AND GENERAL - 0.04%
	4,500,000	g	National Agricultural Cooperative Federation	5.000	9/30/2014	A2		4,539
			TOTAL EXECUTIVE, LEGISLATIVE AND GENERAL					4,539
FABRICATED METAL PRODUCTS - 0.07%
	1,015,000		Ball Corp	7.130	9/1/2016	Ba1		1,035
	355,000		Ball Corp	7.380	9/1/2019	Ba1		360
	1,875,000		CRH America, Inc	6.950	3/15/2012	Baa1		2,009
	2,000,000		Crown Cork & Seal Co, Inc	8.000	4/15/2023	B2		1,900
	2,000,000	g	Silgan Holdings, Inc	7.250	8/15/2016	Ba3		2,020
			TOTAL FABRICATED METAL PRODUCTS					7,324
FOOD AND KINDRED PRODUCTS - 0.68%
	6,400,000		Bottling Group LLC	6.950	3/15/2014	Aa2		7,458
	3,225,000		Bottling Group LLC	5.130	1/15/2019	A2		3,437
	2,750,000		Bunge Ltd	8.500	6/15/2019	Baa2		3,170
	4,000,000		Coca-Cola Enterprises, Inc	4.250	3/1/2015	A3		4,230
	1,200,000		Coca-Cola Enterprises, Inc	4.500	8/15/2019	A3		1,234
	3,000,000		ConAgra Foods, Inc	5.880	4/15/2014	Baa2		3,293
	3,698,000		Dr Pepper Snapple Group, Inc	6.820	5/1/2018	Baa3		4,204
	2,500,000	g	Foster’s Finance Corp	4.880	10/1/2014	Baa2		2,590
	3,850,000		General Mills, Inc	5.250	8/15/2013	Baa1		4,189
	6,000,000		General Mills, Inc	5.650	2/15/2019	Baa1		6,498
	3,400,000		Kraft Foods, Inc	6.500	8/11/2017	Baa2		3,678
	2,530,000		Kraft Foods, Inc	6.130	2/1/2018	Baa2		2,681
	4,000,000		Kraft Foods, Inc	6.500	11/1/2031	Baa2		4,163
	6,350,000		PepsiAmericas, Inc	5.750	7/31/2012	Baa1		6,977
	625,000		PepsiAmericas, Inc	4.380	2/15/2014	Baa1		652
	3,175,000		PepsiCo, Inc	7.900	11/1/2018	Aa2		4,009
	5,000,000		Reynolds American, Inc	6.500	7/15/2010	Baa3		5,143
	1,000,000	g	Smithfield Foods, Inc	10.000	7/15/2014	Ba3		1,050
			TOTAL FOOD AND KINDRED PRODUCTS					68,656
FOOD STORES - 0.20%
	3,800,000		Delhaize Group	6.500	6/15/2017	Baa3		4,137
	3,800,000		Delhaize Group S.A.	5.880	2/1/2014	Baa3		4,092
	2,000,000		Ingles Markets, Inc	8.880	5/15/2017	B1		2,050
	2,500,000		Kroger Co	6.800	4/1/2011	Baa2		2,677

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     1,600,000		Kroger Co	6.400%	8/15/2017	Baa2	$	1,770
	775,000		Kroger Co	6.800	12/15/2018	Baa2		883
	1,600,000		Safeway, Inc	5.000	8/15/2019	Baa2		1,636
	1,750,000		Stater Brothers Holdings	8.130	6/15/2012	B2		1,759
	880,000		Stater Brothers Holdings	7.750	4/15/2015	B2		854
			TOTAL FOOD STORES					19,858
FOREIGN GOVERNMENT BONDS - 0.10%
	10,000,000		Province of Ontario Canada	4.000	10/7/2019	Aa1		9,993
			TOTAL FOREIGN GOVERNMENT BONDS					9,993
FURNITURE AND HOME FURNISHINGS STORES - 0.02%
	2,000,000		GSC Holdings Corp	8.000	10/1/2012	Ba1		2,065
			TOTAL FURNITURE AND HOME FURNISHINGS STORES					2,065
GENERAL BUILDING CONTRACTORS - 0.04%
	3,715,000	g	Corp GEO SAB de C.V.	8.880	9/25/2014	Ba3		3,901
			TOTAL GENERAL BUILDING CONTRACTORS					3,901
GENERAL MERCHANDISE STORES - 0.14%
	1,925,000		TJX Cos, Inc	6.950	4/15/2019	A3		2,260
	875,000		Wal-Mart Stores, Inc	3.000	2/3/2014	Aa2		888
	3,750,000		Wal-Mart Stores, Inc	5.250	9/1/2035	Aa2		3,755
	6,125,000		Wal-Mart Stores, Inc	6.200	4/15/2038	Aa2		6,971
			TOTAL GENERAL MERCHANDISE STORES					13,874
HEALTH SERVICES - 0.19%
	2,750,000	g	Apria Healthcare Group, Inc	11.250	11/1/2014	Ba2		2,956
	2,000,000		Community Health Systems	8.880	7/15/2015	B3		2,050
	2,000,000		DaVita, Inc	6.630	3/15/2013	B1		1,980
	2,250,000		Express Scripts, Inc	7.250	6/15/2019	Baa3		2,643
	5,259,000	o	HCA, Inc	9.630	11/15/2016	B2		5,469
	3,500,000		Quest Diagnostics, Inc	6.400	7/1/2017	Baa3		3,806
			TOTAL HEALTH SERVICES					18,904
HOLDING AND OTHER INVESTMENT OFFICES - 0.36%
	1,380,000		BHP Billiton Finance Ltd	5.400	3/29/2017	A1		1,491
	2,220,000		Boston Properties LP	6.250	1/15/2013	Baa2		2,305
	1,525,000		Brandywine Operating Partnership LP	7.500	5/15/2015	Baa3		1,526
	1,525,000		Brandywine Operating Partnership LP	5.700	5/1/2017	Baa3		1,373
	5,000,000		Brookfield Asset Management, Inc	7.130	6/15/2012	Baa2		5,050
	1,835,000		Developers Diversified Realty Corp	9.630	3/15/2016	Baa3		1,841
	700,000		Duke Realty LP	5.630	8/15/2011	Baa2		708
	1,485,000		Duke Realty LP	7.380	2/15/2015	Baa2		1,532
	1,505,000		Duke Realty LP	8.250	8/15/2019	Baa2		1,571
	255,000		Federal Realty Investment Trust	5.650	6/1/2016	Baa1		242
	1,600,000		Highwoods Properties, Inc	5.850	3/15/2017	Ba1		1,409
	840,000		Kimco Realty Corp	5.700	5/1/2017	Baa1		786
	1,480,000		Mack-Cali Realty Corp	7.750	8/15/2019	Baa2		1,525
	125,000		National Retail Properties, Inc	6.880	10/15/2017	Baa2		115
	725,000	g	PPF Funding, Inc	5.350	4/15/2012	Baa1		613
	625,000		ProLogis	5.500	4/1/2012	Baa2		618
	1,500,000		ProLogis	5.500	3/1/2013	Baa2		1,423
	385,000		ProLogis	5.750	4/1/2016	Baa2		344
	1,540,000		ProLogis	5.630	11/15/2016	Baa2		1,382

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     1,375,000		ProLogis	6.630%	5/15/2018	Baa2	$	1,270
	2,325,000		Realty Income Corp	5.950	9/15/2016	Baa1		2,229
	2,325,000		Regency Centers LP	5.250	8/1/2015	Baa2		2,159
	225,000		Regency Centers LP	5.880	6/15/2017	Baa2		211
	1,090,000		Simon Property Group LP	6.750	5/15/2014	A3		1,169
	800,000		Simon Property Group LP	5.250	12/1/2016	A3		789
	3,040,000		Simon Property Group LP	10.350	4/1/2019	A3		3,783
			TOTAL HOLDING AND OTHER INVESTMENT OFFICES					37,464
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.29%
	1,500,000		Black & Decker Corp	8.950	4/15/2014	Baa3		1,763
	7,525,000		Hewlett-Packard Co	4.250	2/24/2012	A2		7,951
	4,000,000		Hewlett-Packard Co	2.950	8/15/2012	A2		4,101
	5,250,000		Hewlett-Packard Co	4.750	6/2/2014	A2		5,635
	3,000,000		Ingersoll-Rand Global Holding Co Ltd	9.500	4/15/2014	Baa1		3,545
	3,150,000		International Game Technology	7.500	6/15/2019	Baa2		3,491
	2,125,000		ITT Corp	4.900	5/1/2014	Baa1		2,216
	1,500,000		Kennametal, Inc	7.200	6/15/2012	Baa2		1,581
			TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					30,283
INSTRUMENTS AND RELATED PRODUCTS - 0.28%
	3,400,000		Agilent Technologies, Inc	4.450	9/12/2012	Baa3		3,437
	1,000,000		Biomet, Inc	11.630	10/15/2017	Caa1		1,090
	4,000,000		Emerson Electric Co	4.500	5/1/2013	A2		4,277
	5,000,000		Medtronic, Inc	4.750	9/15/2015	A1		5,417
	2,150,000		Northrop Grumman Corp	7.750	2/15/2031	Baa1		2,835
	6,000,000		St. Jude Medical, Inc	3.750	7/15/2014	Baa1		6,105
	1,750,000		Thermo Fisher Scientific, Inc	5.000	6/1/2015	Baa2		1,820
	3,600,000		Xerox Corp	8.250	5/15/2014	Baa2		4,092
			TOTAL INSTRUMENTS AND RELATED PRODUCTS					29,073
INSURANCE CARRIERS - 1.05%
	3,825,000		ACE INA Holdings, Inc	5.880	6/15/2014	A3		4,180
	2,155,000		Aetna, Inc	6.500	9/15/2018	A3		2,333
	1,925,000		Aetna, Inc	6.630	6/15/2036	A3		2,000
	11,525,000		Aflac, Inc	8.500	5/15/2019	A2		13,738
	5,000,000	g	AIG SunAmerica Global Financing VI	6.300	5/10/2011	A1		4,929
	5,375,000		Allstate Corp	7.450	5/16/2019	A3		6,406
	4,375,000		American Financial Group, Inc	9.880	6/15/2019	Baa2		4,806
	3,750,000		Chubb Corp	6.000	5/11/2037	A2		4,140
	4,000,000	g	John Hancock Global Funding II	7.900	7/2/2010	Aa3		4,159
	3,000,000		Metlife, Inc	5.380	12/15/2012	A2		3,187
	5,620,000		Metlife, Inc	5.000	6/15/2015	A2		5,869
	2,500,000		Metlife, Inc	5.700	6/15/2035	A2		2,571
	7,675,000		MetLife, Inc	6.750	6/1/2016	A2		8,565
	3,000,000		Prudential Financial, Inc	5.800	6/15/2012	Baa2		3,156
	11,300,000		Prudential Financial, Inc	7.380	6/15/2019	Baa2		12,611
	3,000,000	g	Prudential Funding LLC	6.750	9/15/2023	A3		2,825
	4,250,000		Travelers Cos, Inc	5.800	5/15/2018	A2		4,709
	1,150,000		Travelers Cos, Inc	5.900	6/2/2019	A2		1,289
	4,750,000		Unum Group	7.130	9/30/2016	Ba1		4,806
	4,902,000		WellPoint, Inc	6.380	1/15/2012	Baa1		5,246
	1,800,000		WellPoint, Inc	5.880	6/15/2017	Baa1		1,900

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     2,250,000		WellPoint, Inc	5.850%	1/15/2036	Baa1	$	2,250
			TOTAL INSURANCE CARRIERS					105,675
JUSTICE, PUBLIC ORDER AND SAFETY - 0.02%
	2,000,000		Corrections Corp of America	7.750	6/1/2017	Ba2		2,065
			TOTAL JUSTICE, PUBLIC ORDER AND SAFETY					2,065
LEGAL SERVICES - 0.01%
	1,256,000		FTI Consulting, Inc	7.630	6/15/2013	Ba2		1,253
			TOTAL LEGAL SERVICES					1,253
METAL MINING - 0.22%
	4,000,000		Barrick Gold Financeco LLC	6.130	9/15/2013	Baa1		4,396
	2,000,000		Freeport-McMoRan Copper & Gold, Inc	8.380	4/1/2017	Ba2		2,128
	7,750,000		Newmont Mining Corp	6.250	10/1/2039	Baa2		7,698
	3,850,000		Rio Tinto Finance USA Ltd	5.880	7/15/2013	Baa1		4,148
	4,000,000		Rio Tinto Finance USA Ltd	6.500	7/15/2018	Baa1		4,301
			TOTAL METAL MINING					22,671
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.02%
	2,000,000		WMG Acquisition Corp	7.380	4/15/2014	B1		1,915
			TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES					1,915
MISCELLANEOUS RETAIL - 0.19%
	2,500,000		CVS Caremark Corp	4.880	9/15/2014	Baa2		2,645
	10,500,000		CVS Caremark Corp	5.750	6/1/2017	Baa2		11,240
	795,000		CVS Caremark Corp	6.600	3/15/2019	Baa2		896
	3,875,000		Staples, Inc	9.750	1/15/2014	Baa2		4,655
			TOTAL MISCELLANEOUS RETAIL					19,436
MOTION PICTURES - 0.25%
	3,000,000		Time Warner, Inc	6.750	4/15/2011	Baa2		3,206
	16,250,000		Time Warner, Inc	6.880	5/1/2012	Baa2		17,889
	3,825,000		Time Warner, Inc	6.500	11/15/2036	Baa2		3,914
			TOTAL MOTION PICTURES					25,009
NONDEPOSITORY INSTITUTIONS - 2.06%
	7,500,000		American General Finance Corp	6.900	12/15/2017	Baa3		5,245
	3,500,000	g	American Honda Finance Corp	5.130	12/15/2010	A1		3,597
	2,250,000	g	Anglo American Capital plc	9.380	4/8/2014	Baa1		2,621
	4,500,000	g	CCL Finance Ltd	9.500	8/15/2014	Ba3		4,781
	3,700,000		Countrywide Financial Corp	6.250	5/15/2016	A3		3,706
	4,500,000		Countrywide Home Loans, Inc	4.000	3/22/2011	A2		4,574
	2,000,000		Ford Motor Credit Co LLC	7.500	8/1/2012	Caa1		1,920
	25,000,000	p	General Electric Capital Corp	3.000	12/9/2011	Aaa		25,875
	2,100,000		General Electric Capital Corp	5.880	2/15/2012	Aa2		2,236
	7,000,000	p	General Electric Capital Corp	2.630	12/28/2012	Aaa		7,172
	7,450,000		General Electric Capital Corp	5.900	5/13/2014	Aa2		7,989
	21,200,000		General Electric Capital Corp	5.500	6/4/2014	Aa2		22,391
	5,375,000		General Electric Capital Corp	6.880	1/10/2039	Aa2		5,629
	2,810,000	g	Holcim US Finance Sarl & Cie SCS	6.000	12/30/2019	Baa2		2,844
	10,000,000		HSBC Finance Corp	5.250	1/14/2011	A3		10,280
	5,750,000		HSBC Finance Corp	6.380	11/27/2012	A3		6,183
	4,000,000		HSBC Finance Corp	4.750	7/15/2013	A3		4,066
	5,000,000		HSBC Finance Corp	5.500	1/19/2016	A3		5,111

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     4,500,000	g	HUTCHINSON WHAMPOA FINAN	5.750%	9/11/2019	A3	$	4,527
	5,575,000		International Lease Finance Corp	5.750	6/15/2011	Baa3		5,078
	2,475,000		International Lease Finance Corp	5.630	9/20/2013	Baa3		1,886
	3,825,000		International Lease Finance Corp	6.630	11/15/2013	Baa3		3,033
	15,350,000		Kreditanstalt fuer Wiederaufbau	4.500	7/16/2018	Aaa		16,253
	4,150,000		Landwirtschaftliche Rentenbank	5.250	7/2/2012	Aaa		4,522
	5,000,000		Landwirtschaftliche Rentenbank	5.130	2/1/2017	Aaa		5,433
	4,092,000	g	Majapahit Holding BV	8.000	8/7/2019	Ba2		4,368
	4,000,000	g	Mantis Reef Ltd	4.800	11/3/2009	A3		4,009
	4,000,000		MBNA Corp	6.130	3/1/2013	A2		4,202
	3,415,000		National Rural Utilities Cooperative Finance Corp	2.610	9/16/2012	A1		3,433
	5,990,000		National Rural Utilities Cooperative Finance Corp	5.500	7/1/2013	A1		6,522
	3,800,000		National Rural Utilities Cooperative Finance Corp	10.380	11/1/2018	A1		5,026
	7,680,000		Svensk Exportkredit AB	5.130	3/1/2017	Aa1		8,235
	1,800,000		TAM LINHAS AERES S.A.	7.380	4/25/2017	B1		1,710
	4,364,062		Totem Ocean Trailer Express, Inc	4.510	12/18/2019	NR		4,652
	900,000	g	WEA Finance LLC	7.130	4/15/2018	A2		938
			TOTAL NONDEPOSITORY INSTITUTIONS					210,047
OIL AND GAS EXTRACTION - 1.81%
	2,000,000		Anadarko Finance Co	6.750	5/1/2011	Baa3		2,125
	7,450,000		Anadarko Petroleum Corp	7.630	3/15/2014	Baa3		8,499
	2,310,000		Anadarko Petroleum Corp	8.700	3/15/2019	Baa3		2,762
	3,825,000		Anadarko Petroleum Corp	7.950	6/15/2039	Baa3		4,638
	4,500,000	g	Atlas Energy Resources LLC	10.750	2/1/2018	B3		4,669
	5,900,000		Baker Hughes, Inc	6.500	11/15/2013	A2		6,712
	3,000,000		Baker Hughes, Inc	6.880	1/15/2029	A2		3,546
	3,500,000		BJ Services Co	5.750	6/1/2011	Baa1		3,692
	2,000,000		Burlington Resources Finance Co	6.400	8/15/2011	A2		2,165
	7,750,000		Burlington Resources Finance Co	7.200	8/15/2031	A2		9,245
	3,000,000	g	Cenovus Energy, Inc	4.500	9/15/2014	Baa2		3,065
	5,500,000	g	Cenovus Energy, Inc	5.700	10/15/2019	Baa2		5,640
	6,500,000		Chesapeake Energy Corp	6.500	8/15/2017	Ba3		5,964
	2,000,000		Denbury Resources, Inc	7.500	4/1/2013	B1		2,000
	2,980,000	g	Empresa Nacional del Petroleo	6.250	7/8/2019	A3		3,182
	1,525,000		EnCana Corp	6.500	5/15/2019	Baa2		1,693
	1,525,000		EnCana Corp	6.630	8/15/2037	Baa2		1,687
	5,000,000		Encore Acquisition Co	9.500	5/1/2016	B1		5,275
	5,950,000		Enterprise Products Operating LLC	4.600	8/1/2012	Baa3		6,165
	2,800,000		Enterprise Products Operating LLC	6.300	9/15/2017	Baa3		3,016
	1,600,000		Enterprise Products Operating LLC	6.500	1/31/2019	Baa3		1,747
	7,650,000		Enterprise Products Operating LLC	6.130	10/15/2039	Baa3		7,729
	4,000,000		Enterprise Products Operating LP	5.600	10/15/2014	Baa3		4,260
	3,250,000		EOG Resources, Inc	5.630	6/1/2019	A3		3,558
	4,500,000		Gaz Capital S.A.	6.510	3/7/2022	Baa1		4,138
	3,250,000		Husky Energy, Inc	6.250	6/15/2012	Baa2		3,519
	2,975,000		Husky Energy, Inc	6.800	9/15/2037	Baa2		3,253
	3,710,000	g	KazMunaiGaz Finance Sub BV	11.750	1/23/2015	Baa2		4,387
	3,000,000		Kerr-McGee Corp	6.950	7/1/2024	Baa3		3,212
	2,000,000		Nexen, Inc	6.200	7/30/2019	Baa3		2,074
	4,000,000		Nexen, Inc	7.500	7/30/2039	Baa3		4,356
	2,800,000		Pemex Project Funding Master Trust	5.750	3/1/2018	Baa1		2,769
	1,890,000		Pemex Project Funding Master Trust	6.630	6/15/2038	Baa1		1,777
	7,300,000		Petrobras International Finance Co	7.880	3/15/2019	Baa1		8,422
	4,500,000	g	Petroleos Mexicanos	4.880	3/15/2015	Baa1		4,444
	2,900,000	g	Petroleos Mexicanos	8.000	5/3/2019	Baa1		3,312
	3,960,000	g	Petroleum Co of Trinidad & Tobago Ltd	9.750	8/14/2019	Baa3		4,485

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     2,000,000		Range Resources Corp	7.500%	5/15/2016	Ba3	$	2,000
	700,000		Range Resources Corp	7.250	5/1/2018	Ba3		686
	5,000,000		Rowan Cos, Inc	3.530	5/1/2020	NR		5,092
	3,750,000		SEACOR Holdings, Inc	7.380	10/1/2019	Ba1		3,767
	1,964,000		Southwestern Energy Co	7.500	2/1/2018	Ba2		1,984
	5,000,000		XTO Energy, Inc	6.250	4/15/2013	Baa2		5,441
	4,400,000		XTO Energy, Inc	4.630	6/15/2013	Baa2		4,552
	3,225,000		XTO Energy, Inc	5.500	6/15/2018	Baa2		3,328
	2,500,000		XTO Energy, Inc	6.380	6/15/2038	Baa2		2,659
			TOTAL OIL AND GAS EXTRACTION					182,691
PAPER AND ALLIED PRODUCTS - 0.11%
	2,662,000	g	Celulosa Arauco y Constitucion S.A.	7.250	7/29/2019	Baa2		2,931
	1,900,000	g	Greif, Inc	7.750	8/1/2019	Ba2		1,957
	6,220,000		International Paper Co	7.500	8/15/2021	Baa3		6,590
			TOTAL PAPER AND ALLIED PRODUCTS					11,478
PETROLEUM AND COAL PRODUCTS - 0.76%
	7,450,000		BP Capital Markets plc	3.130	3/10/2012	Aa1		7,696
	11,675,000		BP Capital Markets plc	3.880	3/10/2015	Aa1		12,061
	7,475,000		Chevron Corp	3.450	3/3/2012	Aa1		7,782
	9,725,000		ConocoPhillips	4.600	1/15/2015	A1		10,379
	7,600,000		ConocoPhillips	6.500	2/1/2039	A1		8,761
	3,130,000	g	Ecopetrol S.A.	7.630	7/23/2019	Baa2		3,427
	2,225,000		Hess Corp	7.000	2/15/2014	Baa2		2,483
	3,600,000		Hess Corp	8.130	2/15/2019	Baa2		4,325
	3,500,000		Marathon Oil Corp	6.500	2/15/2014	Baa1		3,854
	2,850,000		Marathon Oil Corp	7.500	2/15/2019	Baa1		3,287
	4,000,000		Marathon Oil Corp	6.600	10/1/2037	Baa1		4,239
	1,925,000		Shell International Finance BV	6.380	12/15/2038	Aa1		2,286
	2,800,000		StatoilHydro ASA	3.880	4/15/2014	Aa2		2,932
	1,920,000		Tesoro Corp	9.750	6/1/2019	Ba1		1,997
	2,500,000		Valero Energy Corp	6.630	6/15/2037	Baa2		2,233
			TOTAL PETROLEUM AND COAL PRODUCTS					77,742
PIPELINES, EXCEPT NATURAL GAS - 0.19%
	2,000,000		Kaneb Pipe Line Operating Partnership LP	5.880	6/1/2013	Baa3		2,071
	4,000,000		Magellan Midstream Partners LP	6.550	7/15/2019	Baa2		4,445
	4,025,000	g	Rockies Express Pipeline LLC	6.250	7/15/2013	Baa3		4,350
	2,175,000		TransCanada Pipelines Ltd	4.000	6/15/2013	A3		2,216
	3,400,000		TransCanada Pipelines Ltd	5.850	3/15/2036	A3		3,600
	2,750,000	i	TransCanada Pipelines Ltd	6.350	5/15/2067	Baa1		2,409
			TOTAL PIPELINES, EXCEPT NATURAL GAS					19,091
PRIMARY METAL INDUSTRIES - 0.11%
	3,040,000		ArcelorMittal	5.380	6/1/2013	Baa3		3,108
	2,085,000		ArcelorMittal	9.850	6/1/2019	Baa3		2,466
	4,350,000	g	CSN Islands XI Corp	6.880	9/21/2019	Ba1		4,377
	1,550,000	g	Xstrata Finance Canada Ltd	6.900	11/15/2037	Baa2		1,459
			TOTAL PRIMARY METAL INDUSTRIES					11,410
PRINTING AND PUBLISHING - 0.25%
	2,500,000		Dun & Bradstreet Corp	5.500	3/15/2011	A3		2,566
	1,274,000		News America, Inc	7.250	5/18/2018	Baa1		1,408
	4,250,000		News America, Inc	7.630	11/30/2028	Baa1		4,408
	3,575,000		News America, Inc	6.650	11/15/2037	Baa1		3,724

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     7,600,000	g	News America, Inc	6.900%	8/15/2039	Baa1	$	8,091
	4,125,000		Thomson Corp	5.700	10/1/2014	Baa1		4,523
			TOTAL PRINTING AND PUBLISHING					24,720
RAILROAD TRANSPORTATION - 0.40%
	3,750,000		Burlington Northern Santa Fe Corp	6.750	7/15/2011	Baa1		4,081
	7,650,000		Burlington Northern Santa Fe Corp	4.700	10/1/2019	Baa1		7,741
	2,400,000		Burlington Northern Santa Fe Corp	6.150	5/1/2037	Baa1		2,664
	3,500,000		Canadian National Railway Co	4.400	3/15/2013	A3		3,674
	2,500,000	g	Norfolk Southern Corp	5.750	1/15/2016	Baa1		2,732
	2,800,000		Norfolk Southern Corp	5.750	4/1/2018	Baa1		3,046
	4,000,000		Norfolk Southern Corp	5.900	6/15/2019	Baa1		4,447
	2,056,000		Norfolk Southern Corp	5.590	5/17/2025	Baa1		2,121
	3,000,000		Union Pacific Corp	6.500	4/15/2012	Baa2		3,311
	6,375,000		Union Pacific Corp	5.130	2/15/2014	Baa2		6,839
			TOTAL RAILROAD TRANSPORTATION					40,656
REAL ESTATE - 0.01%
	1,750,000	g,i	USB Realty Corp	6.090	12/30/2049	A2		1,216
			TOTAL REAL ESTATE					1,216
SECURITY AND COMMODITY BROKERS - 2.11%
	4,200,000		Charles Schwab Corp	4.950	6/1/2014	A2		4,429
	3,000,000		Credit Suisse USA, Inc	4.880	1/15/2015	Aa1		3,150
	1,250,000		Eaton Vance Corp	6.500	10/2/2017	A3		1,350
	4,900,000	i	Goldman Sachs Capital II	5.790	12/30/2049	A3		3,528
	3,825,000		Goldman Sachs Group, Inc	3.630	8/1/2012	A1		3,927
	3,250,000		Goldman Sachs Group, Inc	5.700	9/1/2012	A1		3,507
	7,200,000		Goldman Sachs Group, Inc	5.250	10/15/2013	A1		7,644
	11,760,000		Goldman Sachs Group, Inc	5.150	1/15/2014	A1		12,347
	1,130,000		Goldman Sachs Group, Inc	6.000	5/1/2014	A1		1,229
	5,612,000		Goldman Sachs Group, Inc	5.350	1/15/2016	A1		5,796
	19,475,000		Goldman Sachs Group, Inc	7.500	2/15/2019	A1		22,271
	1,150,000		Goldman Sachs Group, Inc	6.450	5/1/2036	A2		1,143
	3,100,000		Goldman Sachs Group, Inc	6.750	10/1/2037	A2		3,199
	15,125,000		Merrill Lynch & Co, Inc	6.050	8/15/2012	A2		16,131
	4,825,000		Merrill Lynch & Co, Inc	5.450	2/5/2013	A2		5,003
	4,675,000		Merrill Lynch & Co, Inc	6.400	8/28/2017	A2		4,735
	13,650,000		Merrill Lynch & Co, Inc	6.880	4/25/2018	A2		14,356
	30,000,000	p	Morgan Stanley	2.250	3/13/2012	Aaa		30,548
	14,775,000		Morgan Stanley	6.000	5/13/2014	A2		15,730
	3,925,000		Morgan Stanley	6.000	4/28/2015	A2		4,156
	9,350,000		Morgan Stanley	5.380	10/15/2015	A2		9,651
	5,000,000		Morgan Stanley	5.750	10/18/2016	A2		5,074
	4,125,000		Morgan Stanley	5.450	1/9/2017	A2		4,131
	4,775,000		Morgan Stanley	5.950	12/28/2017	A2		4,862
	3,850,000		Morgan Stanley	6.630	4/1/2018	A2		4,071
	4,975,000		Morgan Stanley	7.300	5/13/2019	A2		5,474
	15,000,000		Morgan Stanley	5.630	9/23/2019	A2		14,749
	1,560,000	g	Nuveen Investments, Inc	10.500	11/15/2015	Caa3		1,349
			TOTAL SECURITY AND COMMODITY BROKERS					213,540
SOCIAL SERVICES - 0.02%
	2,000,000	g	Knowledge Learning Corp, Inc	7.750	2/1/2015	B2		1,930
			TOTAL SOCIAL SERVICES					1,930

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
STONE, CLAY, AND GLASS PRODUCTS - 0.10%
	$     3,385,000		3M Co	4.380%	8/15/2013	Aa2	$	3,624
	4,150,000		3M Co	5.700	3/15/2037	Aa2		4,679
	2,000,000		Owens Brockway Glass Container, Inc	8.250	5/15/2013	Ba3		2,045
			TOTAL STONE, CLAY, AND GLASS PRODUCTS					10,348
TOBACCO PRODUCTS - 0.14%
	3,700,000		Philip Morris International, Inc	4.880	5/16/2013	A2		3,931
	7,425,000		Philip Morris International, Inc	6.880	3/17/2014	A2		8,482
	1,600,000		Philip Morris International, Inc	6.380	5/16/2038	A2		1,841
			TOTAL TOBACCO PRODUCTS					14,254
TRANSPORTATION EQUIPMENT - 0.35%
	4,745,000		Boeing Co	5.000	3/15/2014	A2		5,174
	2,000,000	g	Bombardier, Inc	6.750	5/1/2012	Ba2		2,010
	3,515,000		Goodrich Corp	6.130	3/1/2019	Baa2		3,820
	3,750,000		Honeywell International, Inc	3.880	2/15/2014	A2		3,903
	2,500,000		Lockheed Martin Corp	4.120	3/14/2013	Baa1		2,611
	5,525,000		Lockheed Martin Corp	6.150	9/1/2036	Baa1		6,324
	4,575,000		United Technologies Corp	6.130	2/1/2019	A2		5,234
	4,970,000		United Technologies Corp	5.400	5/1/2035	A2		5,199
	1,075,000		United Technologies Corp	6.050	6/1/2036	A2		1,237
			TOTAL TRANSPORTATION EQUIPMENT					35,512
WATER TRANSPORTATION - 0.01%
	1,335,000	g	Hornbeck Offshore Services, Inc	8.000	9/1/2017	Ba3		1,315
			TOTAL WATER TRANSPORTATION					1,315
WHOLESALE TRADE-DURABLE GOODS - 0.15%
	5,250,000	g	Ace Hardware Corp	9.130	6/1/2016	Ba2		5,486
	1,500,000		Martin Marietta Materials, Inc	6.600	4/15/2018	Baa3		1,556
	2,000,000		Vale Overseas Ltd	6.250	1/23/2017	Baa2		2,141
	2,760,000		Vale Overseas Ltd	5.630	9/15/2019	Baa2		2,807
	2,760,000		Vale Overseas Ltd	6.880	11/21/2036	Baa2		2,856
			TOTAL WHOLESALE TRADE-DURABLE GOODS					14,846
WHOLESALE TRADE-NONDURABLE GOODS - 0.23%
	1,125,000		Airgas, Inc	4.500	9/15/2014	Baa3		1,145
	2,000,000	g	Airgas, Inc	7.130	10/1/2018	Ba1		2,062
	2,000,000		Inergy LP	6.880	12/15/2014	B1		1,910
	4,250,000		McKesson Corp	6.500	2/15/2014	Baa3		4,659
	3,000,000		Plains All American Pipeline LP	5.630	12/15/2013	Baa3		3,118
	8,200,000		Plains All American Pipeline LP	5.750	1/15/2020	Baa3		8,264
	1,800,000		Supervalu, Inc	7.500	11/15/2014	Ba3		1,809
	640,000		SUPERVALU, Inc	8.000	5/1/2016	Ba3		662
			TOTAL WHOLESALE TRADE-NONDURABLE GOODS					23,629
			TOTAL CORPORATE BONDS					2,969,335
			(Cost $2,818,033)
GOVERNMENT BONDS - 62.68%
AGENCY SECURITIES - 5.83%
			Federal Farm Credit Bank (FFCB)
	7,250,000		FFCB	5.380	7/18/2011	Aaa		7,803

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     31,850,000		FFCB	2.630%	4/21/2011	Aaa	$	32,692
			Federal Home Loan Bank (FHLB)
	3,000,000		FHLB	3.630	9/16/2011	Aaa		3,158
	10,500,000		FHLB	5.000	11/17/2017	Aaa		11,470
			Federal Home Loan Mortgage Corp (FHLMC)
	20,000,000		FHLMC	3.000	7/28/2014	Aaa		20,389
	10,500,000		FHLMC	3.750	3/27/2019	Aaa		10,505
	27,600,000		FHLMC	2.500	4/23/2014	Aaa		27,647
	5,000,000		FHLMC	1.750	6/15/2012	Aaa		5,026
	28,000,000		FHLMC	2.130	9/21/2012	Aaa		28,357
	15,000,000		FHLMC	5.500	8/20/2012	Aaa		16,634
	5,000,000		FHLMC	4.130	12/21/2012	Aaa		5,365
	6,000,000		FHLMC	3.500	5/29/2013	Aaa		6,309
	19,000,000		FHLMC	4.880	2/9/2010	Aaa		19,309
	21,225,000		FHLMC	3.250	7/16/2010	Aaa		21,695
	22,500,000		FHLMC	5.250	7/18/2011	Aaa		24,254
			Federal National Mortgage Association (FNMA)
	76,000,000		FNMA	2.750	3/13/2014	Aaa		77,173
	25,500,000		FNMA	2.500	5/15/2014	Aaa		25,445
	23,500,000		FNMA	3.000	9/16/2014	Aaa		23,888
	24,500,000		FNMA	2.750	2/5/2014	Aaa		24,823
	19,400,000		FNMA	1.380	4/28/2011	Aaa		19,569
	20,000,000		FNMA	2.000	1/9/2012	Aaa		20,344
	25,000,000		FNMA	3.880	7/12/2013	Aaa		26,637
	8,000,000		FNMA	5.000	10/15/2011	Aaa		8,666
	10,000,000		FNMA	3.630	2/12/2013	Aaa		10,582
	7,200,000		FNMA	7.130	6/15/2010	Aaa		7,543
	8,250,000		FNMA	3.250	8/12/2010	Aaa		8,446
	5,302,209		Cal Dive I- Title XI, Inc	4.930	2/1/2027	NR		5,556
	2,192,696		Overseas Private Investment Corp	3.420	1/15/2015	NR		2,232
	13,000,000		Private Export Funding Corp	4.900	12/15/2011	Aaa		14,072
	25,000,000		Private Export Funding Corp	3.550	4/15/2013	Aaa		26,298
	10,000,000		Private Export Funding Corp	3.050	10/15/2014	Aaa		10,061
	7,000,000		Private Export Funding Corp	4.550	5/15/2015	Aaa		7,571
	17,000,000		Private Export Funding Corp	5.450	9/15/2017	Aaa		18,636
	10,000,000		Private Export Funding Corp	4.380	3/15/2019	Aaa		10,332
	3,000,000		US Department of Housing and Urban Development	5.380	8/1/2018	NR		3,335
			TOTAL AGENCY SECURITIES					591,822
FOREIGN GOVERNMENT BONDS - 2.83%
	5,300,000	g	Banco Nacional de Desenvolvimento Economico e Social	6.500	6/10/2019	Baa2		5,631
	1,675,000		Banque Centrale de Tunisie	8.250	9/19/2027	Baa2		1,964
	13,000,000	g	Belgium Government International Bond	2.880	9/15/2014	Aa1		13,018
	2,480,000		Brazilian Government International Bond	5.880	1/15/2019	Baa3		2,666
	825,000		Brazilian Government International Bond	7.130	1/20/2037	Baa3		984
	4,500,000		Brazilian Government International Bond	5.630	1/7/2041	Baa3		4,439
	12,200,000		Canada Government International Bond	2.380	9/10/2014	Aaa		12,130
	10,000,000		Canada Mortgage & Housing Corp	4.800	10/1/2010	Aaa		10,409
	3,500,000		China Development Bank	5.000	10/15/2015	A1		3,760
	2,000,000		Development Bank of Japan	4.250	6/9/2015	Aa2		2,086
	4,660,000		Eksportfinans A/S	5.000	2/14/2012	Aa1		5,000
	3,500,000		European Investment Bank	4.880	2/15/2036	Aaa		3,587
	3,196,000		Export-Import Bank of Korea	5.880	1/14/2015	A2		3,369
	4,000,000	g	Federal Republic of Germany	3.880	6/1/2010	Aaa		4,082
	16,395,000		Federative Republic of Brazil	6.000	1/17/2017	Baa3		17,739
	5,666,667		Federative Republic of Brazil	8.000	1/15/2018	Baa3		6,562

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     5,000,000		International Finance Corp	5.130%	5/2/2011	Aaa	$	5,312
	4,400,000		Italy Government International Bond	5.380	6/12/2017	NR		4,806
	4,000,000		Italy Government International Bond	6.880	9/27/2023	Aa2		4,807
	16,600,000		Japan Finance Corp	2.000	6/24/2011	Aa2		16,812
	1,000,000		Mexico Government International Bond	6.380	1/16/2013	Baa1		1,097
	1,150,000		Mexico Government International Bond	5.880	1/15/2014	Baa1		1,231
	2,900,000		Mexico Government International Bond	6.750	9/27/2034	Baa1		3,190
	4,772,000		Mexico Government International Bond	6.050	1/11/2040	Baa1		4,760
	5,400,000		Oesterreichische Kontrollbank AG.	5.000	4/25/2017	Aaa		5,757
	1,200,000		Peruvian Government International Bond	7.350	7/21/2025	Ba1		1,401
	3,000,000		Peruvian Government International Bond	6.550	3/14/2037	Ba1		3,255
	6,285,000		Poland Government International Bond	6.380	7/15/2019	A2		7,061
	7,400,000		Province of Manitoba Canada	5.000	2/15/2012	Aa1		7,696
	17,120,000		Province of Ontario Canada	3.130	9/8/2010	Aa1		17,514
	20,000,000		Province of Ontario Canada	2.630	1/20/2012	Aa1		20,509
	27,400,000		Province of Ontario Canada	4.100	6/16/2014	Aa1		28,968
	2,250,000		Province of Quebec Canada	5.130	11/14/2016	Aa2		2,446
	8,835,000		Province of Quebec Canada	4.630	5/14/2018	Aa2		9,208
	6,000,000		Province of Quebec Canada	7.500	9/15/2029	Aa2		7,954
	2,000,000		Province of Saskatchewan Canada	8.000	2/1/2013	Aa1		2,289
	4,500,000		Republic of Korea	5.750	4/16/2014	A2		4,852
	4,435,000		Republic of Peru	7.130	3/30/2019	Ba1		5,116
	4,500,000		Republic of the Philippines	6.500	1/20/2020	Ba3		4,821
	4,500,000		Republic of Turkey	7.500	7/14/2017	Ba3		4,961
	3,402,000		South Africa Government International Bond	6.880	5/27/2019	A3		3,793
	1,030,000		United Mexican States	5.880	2/17/2014	Baa1		1,102
	3,500,000		United Mexican States	5.950	3/19/2019	Baa1		3,675
	4,500,000		Uruguay Government International Bond	6.880	9/28/2025	Ba3		4,615
			TOTAL FOREIGN GOVERNMENT BONDS					286,434
MORTGAGE BACKED - 36.94%
			Federal Home Loan Mortgage Corp (FHLMC)
	13,950,974	i	FHLMC	5.870	4/1/2037			14,665
	18,728,137	i	FHLMC	5.770	3/1/2037			19,725
	16,920,785	i	FHLMC	5.740	2/1/2037			17,839
	1,449,277	i	FHLMC	6.010	5/1/2037			1,528
	13,469,796	i	FHLMC	5.840	9/1/2037			14,304
	13,585,491	i	FHLMC	5.830	8/1/2037			14,435
	23,479,638	i	FHLMC	5.710	6/1/2037			24,768
	10,475,976	i	FHLMC	5.790	7/1/2036			11,044
	8,120,894	i	FHLMC	3.650	2/1/2036			8,224
	2,154,330		FHLMC	5.750	12/15/2018			2,248
	6,107,960	i	FHLMC	4.860	9/1/2036			6,275
	8,198,026	i	FHLMC	6.070	9/1/2036			8,693
	7,070,951	i	FHLMC	5.950	9/1/2036			7,447
	8,871,518	i	FHLMC	5.930	9/1/2036			9,335
			Federal Home Loan Mortgage Corp Gold (FGLMC)
	3,218,264		FGLMC	5.500	6/1/2035			3,381
	5,651,099		FGLMC	5.500	6/1/2035			5,937
	10,933,591		FGLMC	7.000	5/1/2035			12,028
	1,671,832		FGLMC	5.500	6/1/2035			1,756
	17,712,242		FGLMC	4.500	8/1/2035			17,993
	2,518,277		FGLMC	5.000	10/1/2035			2,611
	25,082,345		FGLMC	5.500	6/1/2035			26,350
	4,497,274		FGLMC	6.000	6/1/2035			4,767
	3,701,101		FGLMC	6.000	5/1/2035			3,931
	1,944,558		FGLMC	6.000	5/1/2035			2,061

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     2,049,064	FGLMC	5.500%	12/1/2034	$	2,155
	10,035,282	FGLMC	4.500	4/1/2035		10,207
	7,761,960	FGLMC	6.000	5/1/2035		8,228
	4,463,713	FGLMC	6.000	5/1/2035		4,732
	3,765,184	FGLMC	6.000	5/1/2035		3,991
	3,583,568	FGLMC	6.000	5/1/2035		3,799
	11,905,940	FGLMC	6.000	8/1/2037		12,595
	5,302,848	FGLMC	6.000	9/1/2037		5,610
	25,613,678	FGLMC	5.500	4/1/2037		26,848
	40,384,699	FGLMC	5.500	5/1/2037		42,330
	24,010,756	FGLMC	5.000	4/1/2038		24,847
	11,841,819	FGLMC	5.500	7/1/2038		12,412
	17,887,327	FGLMC	5.000	12/1/2037		18,511
	11,334,417	FGLMC	5.000	4/1/2038		11,729
	3,052,209	FGLMC	6.000	1/1/2036		3,231
	4,149,909	FGLMC	7.000	1/1/2036		4,511
	14,241,407	FGLMC	5.000	11/1/2035		14,767
	737,452	FGLMC	6.500	11/1/2035		788
	14,225,084	FGLMC	6.500	10/1/2036		15,186
	39,910,196	FGLMC	5.500	1/1/2037		41,864
	2,459,194	FGLMC	5.500	4/1/2036		2,580
	2,946,733	FGLMC	6.500	5/1/2036		3,146
	2,840,679	FGLMC	4.500	8/1/2020		2,990
	436,960	FGLMC	7.000	10/1/2020		486
	1,229,540	FGLMC	4.000	6/1/2019		1,279
	3,834,642	FGLMC	4.500	7/1/2020		4,015
	60,577	FGLMC	7.000	5/1/2023		67
	975,700	FGLMC	6.000	10/1/2023		1,045
	43,114,848	FGLMC	4.500	6/1/2021		45,139
	13,735,304	FGLMC	4.500	6/1/2021		14,381
	263,972	FGLMC	7.000	7/1/2013		279
	1,303,261	FGLMC	6.500	12/1/2016		1,398
	23,149	FGLMC	7.000	9/1/2010		24
	59,995	FGLMC	6.000	4/1/2011		64
	2,563,666	FGLMC	4.500	11/1/2018		2,708
	2,515,088	FGLMC	5.500	1/1/2019		2,697
	11,245,982	FGLMC	5.000	9/1/2018		11,973
	4,412,342	FGLMC	4.500	10/1/2018		4,661
	3,581,692	FGLMC	5.500	11/1/2033		3,807
	19,835,037	FGLMC	5.500	12/1/2033		20,881
	470,343	FGLMC	8.000	2/1/2032		534
	7,917,728	FGLMC	4.500	7/1/2033		8,060
	59,518,246	FGLMC	5.000	1/1/2034		61,807
	22,030,546	FGLMC	4.500	10/1/2034		22,428
	4,892,537	FGLMC	5.500	12/1/2033		5,149
	40,989,570	FGLMC	7.000	12/1/2033		45,091
	74,149	FGLMC	7.000	11/1/2031		82
	176,046	FGLMC	7.000	12/1/2031		194
	766,358	FGLMC	6.000	11/1/2023		821
	201,293	FGLMC	8.000	1/1/2031		228
	275,548	FGLMC	7.000	12/1/2031		303
	21,844	FGLMC	7.000	1/1/2032		24
	88,424	FGLMC	7.000	12/1/2031		97
	96,382	FGLMC	7.000	12/1/2031		106
	15,821,527	FGLMC	4.500	5/1/2039		16,028
	12,423,831	FGLMC	5.500	1/1/2039		13,022
	26,615,167	FGLMC	6.000	11/1/2038		28,125

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     18,881,450		FGLMC	4.000%	6/1/2039		$	18,691
	27,000,000		FGLMC	6.500	10/15/2039			28,772
	9,000,000		FGLMC	6.000	10/15/2039			9,498
	12,909,426		FGLMC	5.000	7/1/2039			13,358
	14,189,942		FGLMC	6.500	11/1/2037			15,145
	16,084,173		FGLMC	4.000	7/1/2024			16,387
	6,024,015		FGLMC	5.000	4/1/2023	Aaa		6,331
	5,861,946		FGLMC	4.500	1/1/2020			6,170
	6,187,036		FGLMC	4.500	9/1/2024			6,412
	5,718,893		FGLMC	5.000	2/1/2036			5,930
	7,848,030		FGLMC	6.000	9/1/2034			8,337
	11,558,335		FGLMC	5.000	5/1/2034			11,996
			Federal National Mortgage Association (FNMA)
	15,000,176		FNMA	4.500	2/1/2039			15,216
	27,136,148		FNMA	4.500	2/1/2039			27,526
	12,046,777		FNMA	5.500	2/1/2039			12,620
	12,665,967		FNMA	6.000	1/1/2039			13,380
	15,721,249		FNMA	4.500	1/1/2039			15,947
	14,334,677		FNMA	5.500	1/1/2039			15,016
	13,335,207		FNMA	6.000	1/1/2039			14,087
	22,784,576		FNMA	5.000	3/1/2039			23,569
	27,000,000		FNMA	4.000	10/25/2039			26,730
	138,000,000		FNMA	4.500	10/25/2039			139,768
	16,000,000		FNMA	5.500	10/25/2039			16,735
	15,499,871		FNMA	4.500	8/1/2039			15,721
	10,885,824		FNMA	4.000	4/1/2039			10,793
	13,981,748		FNMA	5.000	4/1/2039			14,463
	19,563,789		FNMA	4.500	5/1/2039			19,843
	16,612,444		FNMA	4.000	5/1/2024			16,926
	5,237,809		FNMA	4.500	8/1/2024			5,432
	19,905,098		FNMA	4.000	9/1/2024			20,280
	7,060,719		FNMA	5.500	8/1/2021			7,490
	4,714,755		FNMA	4.500	6/1/2019			4,966
	2,256,874		FNMA	4.500	11/1/2020			2,377
	7,320,368		FNMA	5.000	12/1/2020			7,741
	45,000,000		FNMA	4.500	10/25/2024			46,589
	13,003,724		FNMA	6.000	12/1/2036			13,760
	11,834,186	i	FNMA	5.240	9/1/2038			12,467
	10,305,573	i	FNMA	4.890	10/1/2038			10,784
	26,481,841		FNMA	6.000	3/1/2036			28,023
	7,072,861		FNMA	6.500	7/1/2032			7,632
	8,834,325		FNMA	4.500	8/1/2035			8,994
	13,889,433		FNMA	5.000	2/1/2036			14,398
	2,788,358		FNMA	6.000	7/1/2035			2,956
	1,781,615		FNMA	5.500	7/1/2035			1,871
	25,781,065		FNMA	5.500	9/1/2035			27,124
	11,947,404		FNMA	5.000	8/1/2035			12,385
	494,862		FNMA	7.500	6/1/2035			547
	4,238,737		FNMA	5.500	6/1/2035			4,452
	2,057,781		FNMA	5.500	6/1/2035			2,161
	1,033,580		FNMA	5.500	6/1/2035			1,085
	1,680,904		FNMA	5.500	6/1/2035			1,765
	9,341,082		FNMA	5.500	4/1/2036			9,810
	6,077,043		FNMA	5.000	4/1/2036			6,291
	7,025,798	i	FNMA	5.930	7/1/2036			7,410
	11,350,209	i	FNMA	5.850	6/1/2036			11,986
	11,049,210	i	FNMA	5.740	2/1/2036			11,642

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     11,709,272		FNMA	5.000%	10/1/2035	$	12,138
	10,905,099		FNMA	5.500	9/1/2035		11,453
	7,660,798		FNMA	5.500	11/1/2035		8,045
	11,751,245		FNMA	5.500	10/1/2035		12,341
	2,679,455		FNMA	5.500	6/1/2035		2,814
	2,931,305		FNMA	5.500	10/1/2034		3,080
	3,053,598		FNMA	5.500	9/1/2034		3,209
	17,285,377		FNMA	5.500	12/1/2034		18,164
	2,463,999		FNMA	5.500	10/1/2034		2,589
	4,328,161		FNMA	5.500	9/1/2034		4,548
	57,714,129		FNMA	5.000	8/1/2034		59,918
	14,891,559		FNMA	5.000	4/1/2034		15,446
	4,424,467		FNMA	5.500	9/1/2034		4,649
	9,199,194		FNMA	6.000	8/1/2034		9,789
	14,885,724		FNMA	4.500	5/1/2035		15,182
	6,100,567		FNMA	6.000	4/1/2035		6,482
	5,748,321		FNMA	6.000	5/1/2035		6,094
	18,018,860		FNMA	5.500	5/1/2035		18,924
	4,097,967		FNMA	5.500	4/1/2035		4,304
	5,990,082		FNMA	5.500	1/1/2035		6,295
	3,114,226		FNMA	6.000	12/1/2034		3,309
	24,616,872		FNMA	5.500	4/1/2035		25,868
	63,275,744		FNMA	5.500	2/1/2035		66,570
	477,307		FNMA	6.500	2/1/2038		511
	64,232,866		FNMA	5.500	2/1/2038		67,286
	1,971,643		FNMA	6.500	3/1/2038		2,111
	11,653,647		FNMA	6.500	3/1/2038		12,475
	1,359,539		FNMA	6.500	1/1/2038		1,455
	20,027,171	i	FNMA	5.890	10/1/2037		21,047
	15,852,868		FNMA	6.500	9/1/2037		16,971
	7,173,849		FNMA	5.500	1/1/2038		7,518
	10,756,647		FNMA	7.000	11/1/2037		11,750
	78,000,000		FNMA	5.000	10/25/2038		80,559
	9,602,285		FNMA	5.000	5/1/2038		9,934
	84,000,000		FNMA	6.500	10/25/2038		89,775
	257,000,000		FNMA	6.000	10/25/2038		271,135
	21,639,891		FNMA	5.000	4/1/2038		22,387
	12,572,927		FNMA	5.000	4/1/2038		13,007
	5,172,156		FNMA	6.500	3/1/2038		5,537
	23,012,547		FNMA	5.000	4/1/2038		23,807
	11,614,377		FNMA	5.000	4/1/2038		12,015
	8,775,174		FNMA	6.500	9/1/2037		9,394
	26,779,544		FNMA	5.500	3/1/2037		28,066
	40,585,529		FNMA	5.500	2/1/2037		42,566
	751,683		FNMA	6.500	3/1/2037		805
	10,575,609		FNMA	6.500	3/1/2037		11,328
	9,743,451		FNMA	5.000	2/1/2037		10,080
	6,139,192		FNMA	6.500	9/1/2036		6,576
	26,663,265	i	FNMA	5.990	7/1/2036		28,055
	9,866,772	i	FNMA	5.770	12/1/2036		10,404
	49,148,573	i	FNMA	5.790	11/1/2036		51,859
	5,066,211		FNMA	6.000	9/1/2037		5,356
	4,019,416		FNMA	6.000	9/1/2037		4,250
	9,917,886		FNMA	6.500	9/1/2037		10,617
	16,659,122		FNMA	6.500	9/1/2037		17,834
	6,657,803		FNMA	6.000	9/1/2037		7,039
	13,794,618		FNMA	6.500	8/1/2037		14,767

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     6,797,162	FNMA	7.000%	4/1/2037	$	7,425
	6,080,058	FNMA	6.000	9/1/2037		6,428
	4,331,189	FNMA	6.500	8/1/2037		4,637
	6,450,708	FNMA	5.500	3/1/2034		6,779
	271,181	FNMA	5.500	5/1/2018		290
	873,745	FNMA	6.500	4/1/2018		940
	560,463	FNMA	6.000	1/1/2019		603
	14,121,286	FNMA	4.500	12/1/2018		14,917
	776,704	FNMA	5.500	4/1/2018		832
	1,596,171	FNMA	6.500	2/1/2018		1,717
	6,244,219	FNMA	5.000	12/1/2017		6,638
	9,503,911	FNMA	5.500	4/1/2018		10,171
	4,441,255	FNMA	5.500	3/1/2018		4,753
	159,843	FNMA	8.000	3/1/2023		180
	10,986,237	FNMA	4.500	3/1/2023		11,399
	20,779,533	FNMA	5.000	7/1/2023		21,819
	21,539,550	FNMA	4.500	6/1/2023		22,350
	9,914,244	FNMA	5.000	3/1/2021		10,533
	9,011,766	FNMA	5.000	4/1/2019		9,552
	102,178	FNMA	6.000	2/1/2019		110
	3,093,200	FNMA	5.500	7/1/2020		3,303
	6,693,728	FNMA	5.000	3/1/2020		7,112
	482,161	FNMA	6.500	11/1/2016		520
	2,716,428	FNMA	4.440	7/1/2013		2,855
	216,390	FNMA	5.000	6/1/2013		224
	1,397,775	FNMA	4.780	2/1/2014		1,478
	3,625,695	FNMA	4.760	10/1/2013		3,804
	3,274	FNMA	8.000	7/1/2011		3
	568	FNMA	8.000	6/1/2011		1
	2,587	FNMA	7.500	11/1/2010		3
	2,840	FNMA	8.000	6/1/2011		3
	1,188	FNMA	8.000	6/1/2011		1
	77,357	FNMA	6.500	3/1/2016		83
	31,111	FNMA	6.500	2/1/2016		34
	765,834	FNMA	6.500	10/1/2016		827
	30,684	FNMA	6.500	4/1/2016		33
	814,790	FNMA	7.500	4/1/2015		866
	1,601,604	FNMA	4.560	1/1/2015		1,685
	5,392,777	FNMA	4.440	4/1/2014		5,660
	924,379	FNMA	7.500	4/1/2015		1,004
	439,298	FNMA	7.500	2/1/2015		477
	7,330,181	FNMA	5.500	12/1/2033		7,791
	7,528,629	FNMA	5.000	11/1/2033		7,816
	1,401,296	FNMA	5.500	12/1/2033		1,474
	1,091,911	FNMA	5.500	12/1/2033		1,149
	8,063,832	FNMA	5.000	11/1/2033		8,372
	1,566,124	FNMA	5.000	10/1/2033		1,626
	2,674,999	FNMA	5.000	10/1/2033		2,777
	762,152	FNMA	5.000	11/1/2033		791
	43,711,062	FNMA	5.000	11/1/2033		45,378
	2,011,975	FNMA	5.000	3/1/2034		2,089
	5,769,581	FNMA	5.000	3/1/2034		5,990
	1,844,734	FNMA	5.000	3/1/2034		1,915
	15,433,933	FNMA	5.000	3/1/2034		16,023
	2,323,830	FNMA	5.000	3/1/2034		2,413
	3,015,806	FNMA	5.500	1/1/2034		3,173
	2,567,758	FNMA	5.500	12/1/2033		2,701

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     9,327,078	FNMA	5.500%	2/1/2034	$	9,813
	5,986,169	FNMA	5.500	1/1/2034		6,298
	5,158,880	FNMA	5.000	10/1/2033		5,356
	14,265,357	FNMA	5.000	10/1/2025		14,929
	4,057,178	FNMA	5.500	8/1/2024		4,300
	254,882	FNMA	7.000	7/1/2032		281
	89,742	FNMA	9.000	11/1/2025		103
	402,802	FNMA	8.000	7/1/2024		455
	5,125,422	FNMA	5.000	12/1/2023		5,373
	14,718,278	FNMA	5.000	7/1/2023		15,455
	2,869,354	FNMA	5.500	7/1/2024		3,041
	1,448,304	FNMA	5.500	2/1/2024		1,538
	5,465,105	FNMA	4.500	8/1/2033		5,574
	1,457,645	FNMA	5.500	6/1/2033		1,534
	8,825,155	FNMA	4.500	10/1/2033		9,001
	5,465,401	FNMA	5.000	8/1/2033		5,674
	8,599,467	FNMA	4.500	3/25/2033		9,023
	10,529,827	FNMA	5.500	1/1/2033		11,082
	640,334	FNMA	7.000	7/1/2032		706
	1,505,013	FNMA	5.000	2/1/2033		1,562
	16,563,057	FNMA	6.000	1/1/2033		17,649
		Government National Mortgage Association (GNMA)
	25,000,000	GNMA	4.500	10/15/2039		25,367
	6,215,292	GNMA	4.000	8/15/2039		6,158
	80,000,000	GNMA	5.000	10/15/2039		82,775
	8,027,126	GNMA	6.500	1/15/2044		8,833
	48,000,000	GNMA	6.000	10/15/2039		50,670
	7,153,506	GNMA	5.000	6/15/2039		7,419
	14,101,184	GNMA	5.000	4/15/2038		14,624
	4,069,863	GNMA	5.500	7/15/2033		4,301
	15,847,127	GNMA	4.500	3/15/2039		16,115
	7,743,697	GNMA	5.000	6/15/2039		8,031
	16,876,838	GNMA	4.500	5/15/2039		17,162
	17,169,330	GNMA	4.500	7/20/2039		17,416
	6,252,298	GNMA	5.000	7/20/2039		6,478
	11,309,642	GNMA	6.000	2/20/2037		12,000
	8,092,145	GNMA	6.500	11/20/2038		8,602
	3,904,385	GNMA	6.000	10/20/2036		4,144
	4,073,161	GNMA	6.000	1/20/2037		4,322
	10,822,757	GNMA	6.000	12/15/2037		11,450
	2,061,058	GNMA	5.500	11/20/2033		2,180
	8,043,622	GNMA	5.500	3/20/2035		8,489
	4,974,374	GNMA	5.500	12/20/2035		5,250
	5,900,115	GNMA	6.000	8/20/2038		6,254
	28,000,000	GNMA	5.500	10/15/2038		29,374
	10,334,659	GNMA	6.230	9/15/2043		10,586
	18,485,361	GNMA	5.500	7/15/2038		19,433
	15,663,275	GNMA	5.500	7/20/2038		16,480
	6,199,815	GNMA	6.000	8/15/2038		6,558
	84,982	GNMA	8.500	12/20/2030		97
	25,142	GNMA	9.000	6/15/2016		27
	5,222	GNMA	9.000	9/15/2016		6
	10,635	GNMA	9.000	9/15/2016		12
	1,103	GNMA	8.500	12/15/2009		1
	1,362	GNMA	8.500	12/15/2009		1
	1,926	GNMA	8.500	1/15/2010		2
	115,580	GNMA	9.500	12/15/2016		128

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$            53,674		GNMA	8.000%	6/15/2024		$	61
	82,850		GNMA	8.500	11/20/2030			95
	18,024		GNMA	9.000	11/15/2016			20
	7,485		GNMA	9.000	12/15/2016			8
	10,350		GNMA	9.000	12/15/2016			11
			TOTAL MORTGAGE BACKED					3,745,891
MUNICIPAL BONDS - 0.02%
	2,000,000		Charlotte-Mecklenburg Hospital Authority	5.000	8/1/2015	Aaa		2,094
			TOTAL MUNICIPAL BONDS					2,094
U.S. TREASURY SECURITIES - 17.06%
	331,072,000		United States Treasury Bond	8.000	11/15/2021			468,623
	22,000,000		United States Treasury Bond	6.380	8/15/2027			28,593
	112,900,000		United States Treasury Bond	5.250	2/15/2029			131,053
	13,861,000		United States Treasury Bond	5.380	2/15/2031			16,469
	677,000		United States Treasury Bond	4.500	2/15/2036			727
	7,038,000		United States Treasury Bond	5.000	5/15/2037			8,156
	6,689,000		United States Treasury Bond	4.380	2/15/2038			7,046
	21,495,000		United States Treasury Bond	3.500	2/15/2039			19,473
	44,665,000		United States Treasury Bond	4.250	5/15/2039			46,207
	1,000,000		United States Treasury Note	2.380	8/31/2010			1,018
	13,000,000		United States Treasury Note	0.880	4/30/2011			13,036
	32,762,500		United States Treasury Note	0.880	5/31/2011			32,841
	55,020,000		United States Treasury Note	1.000	7/31/2011			55,177
	112,642,500		United States Treasury Note	1.000	8/31/2011			112,841
	26,650,000		United States Treasury Note	1.880	6/15/2012			27,066
	68,154,000		United States Treasury Note	1.380	9/15/2012			68,037
	25,195,000		United States Treasury Note	3.130	8/31/2013			26,406
	131,829,000		United States Treasury Note	3.130	9/30/2013			138,142
	62,337,000		United States Treasury Note	2.750	10/31/2013			64,334
	189,533,000		United States Treasury Note	2.000	11/30/2013			189,798
	15,679,000		United States Treasury Note	1.880	4/30/2014			15,493
	10,967,000		United States Treasury Note	2.250	5/31/2014			11,000
	44,610,000		United States Treasury Note	2.630	6/30/2014			45,405
	1,185,000		United States Treasury Note	2.630	7/31/2014			1,205
	21,800,000		United States Treasury Note	2.380	8/31/2014			21,882
	32,735,000		United States Treasury Note	2.380	9/30/2014			32,819
	300,000		United States Treasury Note	2.630	2/29/2016			297
	9,800,000		United States Treasury Note	2.380	3/31/2016			9,539
	18,075,000		United States Treasury Note	2.630	4/30/2016			17,841
	19,130,000		United States Treasury Note	3.250	7/31/2016			19,578
	50,464,000		United States Treasury Note	4.750	8/15/2017			56,232
	20,666,000		United States Treasury Note	4.000	8/15/2018			21,817
	9,317,900		United States Treasury Note	3.630	8/15/2019			9,564
	25,000,000	j	United States Treasury Strip Principal	0.000	8/15/2027			11,724
			TOTAL U.S. TREASURY SECURITIES					1,729,439
			TOTAL GOVERNMENT BONDS					6,355,680
			(Cost $6,128,465)

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
STRUCTURED ASSETS - 6.66%
ASSET BACKED - 3.19%
	$        5,000,000	g,i	American Express Credit Account Master Trust	0.520%	12/15/2013	Baa2	$	4,798
			Series - 2006 1 (Class C)
	2,850,000	g,i	American Express Credit Account Master Trust	0.590	12/15/2014	Baa2		2,665
			Series - 2007 5 (Class C)
	5,689,424		AmeriCredit Automobile Receivables Trust	5.160	4/6/2012	Aa3		5,743
			Series - 2007 BF (Class A3A)
	3,856,718		AmeriCredit Automobile Receivables Trust	5.640	9/6/2013	Aa3		3,932
			Series - 2006 AF (Class A4)
	15,000,000	g,h	Avis Budget Rental Car Funding AESOP LLC	5.680	2/20/2014	Aaa		14,999
			Series - 2009 2A (Class A)
	4,920,000	i	Capital One Auto Finance Trust	0.270	5/15/2013	Baa2		4,826
			Series - 2006 C (Class A4)
			Chase Funding Mortgage Loan Asset-Backed
	2,386,530	i	Certificates	5.700	2/25/2035	Aa2		1,512
			Series - 2004 2 (Class 1M1)
			Chase Funding Mortgage Loan Asset-Backed
	1,193,265	i	Certificates	5.700	2/25/2035	A2		612
			Series - 2004 2 (Class 1M2)
			Chase Funding Mortgage Loan Asset-Backed
	937,565	i	Certificates	5.700	2/25/2035	Baa2		312
			Series - 2004 2 (Class 1B)
	4,024,216		CIT Group Home Equity Loan Trust	6.200	2/25/2030	Aa2		3,465
			Series - 2002 1 (Class AF6)
	682,305		CIT Group Home Equity Loan Trust	6.390	12/25/2030	Ba3		87
			Series - 2002 2 (Class MF2)
	30,062		CIT Group Home Equity Loan Trust	6.830	6/25/2033	Ca		1
			Series - 2002 2 (Class BF)
	28,400,000		Citicorp Mortgage Securities, Inc	5.710	7/25/2036	Aaa		26,981
			Series - 2006 1 (Class A3)
	14,455,180		Citicorp Mortgage Securities, Inc	5.560	9/25/2036	Aaa		13,880
			Series - 2006 2 (Class A3)
	901,399	i	CNH Equipment Trust	1.190	12/15/2011	Aaa		902
			Series - 2007 C (Class A3B)
	9,000,000		CNH Equipment Trust	5.280	11/15/2012	Aaa		9,474
			Series - 2009 A (Class A3)
	876,000		CNH Equipment Trust	5.090	6/16/2014	A3		776
			Series - 2007 A (Class B)
	731,143	i	Countrywide Home Equity Loan Trust	0.460	2/15/2029	B3		287
			Series - 2004 B (Class 1A)
	5,655,512	g	Credit-Based Asset Servicing and Securitization LLC	6.160	12/25/2036	Aaa		5,169
			Series - 2007 MX1 (Class A1)
	6,000,000		Discover Card Master Trust	5.650	12/15/2015	Aaa		6,587
			Series - 2008 A4 (Class A4)
	25,000,000	g	Flagstar Home Equity Loan Trust	5.780	1/25/2035	B3		14,470
			Series - 2007 1A (Class AF3)
	5,636,558		GMAC Mortgage Corporation Loan Trust 2006-HLTV A3	5.590	10/25/2029	Baa2		5,197
			Series - 2006 HLTV (Class A3)
	2,600,000		GMAC Mortgage Corporation Loan Trust 2006-HLTV A4	5.810	10/25/2029	Baa3		1,554
			Series - 2006 HLTV (Class A4)
	4,166,667	g	Hertz Vehicle Financing LLC	5.010	2/25/2011	Baa2		4,194
			Series - 0 1A (Class A3)
	2,083,333	g	Hertz Vehicle Financing LLC	5.010	2/25/2011	Baa2		2,097
			Series - 2005 2A (Class A4)
	4,000,000		HFC Home Equity Loan Asset Backed Certificates	5.730	3/20/2036	Aaa		3,766
			Series - 2007 1 (Class A3F)
	3,729,745		HFC Home Equity Loan Asset Backed Certificates	5.910	3/20/2036	Aaa		3,765
			Series - 2007 1 (Class A1F)

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$        4,622,398		Household Automotive Trust	5.610%	8/17/2011	Aaa	$	4,699
			Series - 2006 2 (Class A3)
	41,000,000		Household Automotive Trust	5.340	9/17/2013	Aaa		42,951
			Series - 2006 3 (Class A4)
	18,043,000	i	HOUSEHOLD CREDIT CARD MASTER NOTE TRUST I	0.290	4/15/2013	Aaa		17,868
			Series - 2007 1 (Class A)
	27,000,000		Hyundai Auto Receivables Trust	5.150	5/15/2013	Aaa		28,221
			Series - 2006 B (Class A4)
	4,222,062	g	JPMorgan Auto Receivables Trust	5.220	7/15/2015	A1		4,292
			Series - 2008 A (Class C)
	2,448,359	g	JPMorgan Auto Receivables Trust	5.190	2/15/2011	Aaa		2,463
			Series - 2007 A (Class A3)
	3,091,289	g	Marriott Vacation Club Owner Trust	5.520	5/20/2029	Aaa		2,611
			Series - 2007 1A (Class A)
	18,244	g,m	New York City Tax Lien	5.930	11/10/2019	Aaa		18
			Series - 2006 AA (Class A)
	1,093,035		Nissan Auto Lease Trust	5.100	7/16/2012	Aaa		1,095
			Series - 2006 A (Class A4)
	6,500,000		Renaissance Home Equity Loan Trust	5.590	11/25/2036	Baa3		3,371
			Series - 2006 3 (Class AF3)
	12,000,000	i	Residential Asset Mortgage Products, Inc	0.870	11/25/2034	Aa1		8,109
			Series - 2004 RS11 (Class M1)
	720,380	i	Residential Asset Securities Corp	6.490	10/25/2030	Baa1		524
			Series - 2001 KS2 (Class AI6)
	7,000,000		Residential Funding Mortgage Securities II, Inc	5.520	4/25/2021	Aa1		6,344
			Series - 2006 HI5 (Class A2)
	13,500,000		Residential Funding Mortgage Securities II, Inc	5.500	8/25/2025	Aa3		9,154
			Series - 2006 HI5 (Class A3)
	5,000,000		Residential Funding Mortgage Securities II, Inc	5.450	8/25/2034	B1		2,717
			Series - 2005 HI1 (Class A5)
	6,088,444		Residential Funding Mortgage Securities II, Inc	5.750	2/25/2036	Aa1		5,783
			Series - 2006 HI2 (Class A2)
	1,974,261		Residential Funding Mortgage Securities II, Inc	5.950	2/25/2036	Aa1		1,877
			Series - 2006 HI3 (Class A2)
	6,000,000		Residential Funding Mortgage Securities II, Inc	5.960	2/25/2036	Aa3		3,745
			Series - 2006 HI3 (Class A3)
	2,500,000		Residential Funding Mortgage Securities II, Inc	6.010	2/25/2036	Aa1		1,182
			Series - 2006 HI1 (Class M1)
	350,000		Residential Funding Mortgage Securities II, Inc	6.060	2/25/2036	A2		95
			Series - 2006 HI1 (Class M2)
	30,000,000		Residential Funding Mortgage Securities II, Inc	5.440	9/25/2036	Aa3		20,391
			Series - 2006 HI4 (Class A3)
	9,628,000		Residential Funding Mortgage Securities II, Inc	5.450	9/25/2036	Aa1		8,933
			Series - 2006 HI4 (Class A2)
	1,346,968	g	Sierra Receivables Funding Co	5.840	5/20/2018	Baa3		1,202
			Series - 2006 1A (Class A1)
	289,580	g	Wachovia Auto Loan Owner Trust	5.230	8/22/2011	Aaa		290
			Series - 2006 2A (Class A3)
	3,845,453	g,i	Wachovia Loan Trust	0.610	5/25/2035	Aaa		2,401
			Series - 2005 SD1 (Class A)
			TOTAL ASSET BACKED					322,387
OTHER MORTGAGE BACKED - 3.47%
	2,130,000	i	Banc of America Commercial Mortgage, Inc	5.580	6/10/2039	Aaa		2,145
			Series - 2004 3 (Class A5)
	6,400,000	i	Banc of America Commercial Mortgage, Inc	5.240	11/10/2042	Aaa		6,475
			Series - 2005 1 (Class A5)

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     6,410,000		Banc of America Commercial Mortgage, Inc	5.360%	10/10/2045	Aaa	$	5,456
			Series - 2006 6 (Class A4)
	452,777		Bank of America Alternative Loan Trust	5.500	9/25/2019	Aaa		456
			Series - 2004 8 (Class 3A1)
	5,075,000	i	Bear Stearns Commercial Mortgage Securities	5.470	6/11/2041	Aaa		5,057
			Series - 2004 PWR4 (Class A3)
	725,000	i	Bear Stearns Commercial Mortgage Securities	4.980	7/11/2042	Aaa		711
			Series - 2004 PWR5 (Class A5)
	4,270,000	i	Bear Stearns Commercial Mortgage Securities	4.750	2/13/2046	Aaa		4,232
			Series - 2004 T16 (Class A6)
	3,570,153		Bear Stearns Commercial Mortgage Securities	5.200	12/11/2038	Aaa		3,312
			Series - 2006 PW14 (Class A4)
	8,000,000		Bear Stearns Commercial Mortgage Securities	5.540	10/12/2041	Aaa		7,627
			Series - 2006 T24 (Class A4)
	4,000,000	i	Bear Stearns Commercial Mortgage Securities Series 2006-PW11 (Class A4)	5.620	3/11/2039	Aaa		3,861
			Series - 2006 PW11 (Class A4)
	13,500,000		Citigroup/Deutsche Bank Commercial Mortgage Trust	5.620	10/15/2048	Aaa		12,460
			Series - 2006 CD3 (Class A5)
	23,649,000	i	Commercial Mortgage Pass Through Certificates	6.010	12/10/2049	Aaa		21,309
			Series - 2007 C9 (Class A4)
	8,195,211		Countrywide Alternative Loan Trust	5.500	8/25/2016	Baa1		6,882
			Series - 2004 30CB (Class 1A15)
	7,002,339		Countrywide Home Loan Mortgage Pass Through Trust	5.250	9/25/2035	NR		6,656
			Series - 2005 17 (Class 1A10)
	15,692,159	g,i	Credit Suisse Mortgage Capital Certificates	0.420	4/15/2022	Aaa		11,630
			Series - 2007 TF2A (Class A1)
	3,750,000	i	Credit Suisse Mortgage Capital Certificates	5.700	9/15/2040	NR		2,955
			Series - 2007 C5 (Class A4)
	5,890,000		Credit Suisse Mortgage Capital Certificates	5.380	2/15/2040	Aaa		4,612
			Series - 2007 C1 (Class A3)
	3,000,000	i	Credit Suisse Mortgage Capital Certificates	5.540	1/15/2049	Aaa		2,353
			Series - 2007 C2 (Class A3)
	4,257,426	g,i	Credit Suisse/Morgan Stanley Commercial Mortgage Certificate	0.430	5/15/2023	Aaa		3,606
			Series - 2006 HC1A (Class A1)
	4,415,000		CS First Boston Mortgage Securities Corp	3.940	5/15/2038	Aaa		4,345
			Series - 2003 C3 (Class A5)
	9,128,000	i	CS First Boston Mortgage Securities Corp	5.100	8/15/2038	Aaa		8,885
			Series - 2005 C5 (Class A4)
	1,690,224		First Horizon Asset Securities, Inc	5.500	11/25/2033	NR		1,678
			Series - 2003 9 (Class 1A4)
	9,390,215	i	GMAC MORTGAGE CORP LOAN TRUST	4.600	10/19/2033	Aaa		9,138
			Series - 2003 AR1 (Class A5)
	12,485,000	i	Greenwich Capital Commercial Funding Corp	6.120	7/10/2038	Aaa		11,423
			Series - 2006 GG7 (Class A4)
	10,960,000		Greenwich Capital Commercial Funding Corp	5.440	3/10/2039	Aaa		9,713
			Series - 2007 GG9 (Class A4)
	11,600,000		Greenwich Capital Commercial Funding Corp	5.600	12/10/2049	Aaa		11,488
			Series - 2007 GG11 (Class A2)
	16,765,000		Greenwich Capital Commercial Funding Corp	5.740	12/10/2049	Aaa		15,096
			Series - 2007 GG11 (Class A4)
	6,410,000	i	GS Mortgage Securities Corp II	5.550	4/10/2038	NR		5,789
			Series - 2006 GG6 (Class A4)
	6,350,000		GS Mortgage Securities Corp II	5.560	11/10/2039	Aaa		5,581
			Series - 2006 GG8 (Class A4)

347

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     5,600,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.340%	5/15/2047	Aaa	$	4,798
			Series - 2006 LDP9 (Class A3)
	4,700,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	0.420	2/15/2020	Aaa		3,388
			Series - 2006 FL1A (Class A2)
	11,000,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.380	7/12/2037	Aaa		11,329
			Series - 2002 C1 (Class A3)
	2,510,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	6.050	4/15/2045	Aaa		2,547
			Series - 2006 LDP7 (Class A2)
	17,090,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.440	6/12/2047	Aaa		14,684
			Series - 2007 CB18 (Class A4)
	5,880,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	5.940	2/12/2049	Aaa		4,187
			Series - 2007 CB19 (Class AM)
	4,240,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	6.800	2/12/2051	Aa3		2,142
			Series - 2008 C2 (Class AM)
	7,799,000		LB-UBS Commercial Mortgage Trust	4.740	2/15/2030	Aaa		7,620
			Series - 2005 C1 (Class A4)
	3,160,000		LB-UBS Commercial Mortgage Trust	4.390	3/15/2032	Aaa		3,158
			Series - 2003 C1 (Class A4)
	5,682,000	i	LB-UBS Commercial Mortgage Trust	6.320	4/15/2041	Aaa		5,511
			Series - 2008 C1 (Class A2)
	3,729,128	i	Merrill Lynch Mortgage Trust	5.110	7/12/2038	Aaa		3,074
			Series - 2005 CIP1 (Class AM)
	2,500,000	i	Merrill Lynch Mortgage Trust	5.840	5/12/2039	Aaa		2,347
			Series - 2006 C1 (Class A4)
	3,365,000	g,i	Merrill Lynch Mortgage Trust	6.460	2/12/2051	A3		986
			Series - 2008 C1 (Class C)
	4,700,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	5.600	2/12/2039	Aaa		4,290
			Series - 2006 1 (Class A4)
	5,670,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	6.160	8/12/2049	Aaa		3,962
			Series - 2007 8 (Class AM)
	2,665,077		Morgan Stanley Capital I	4.690	6/13/2041	Aaa		2,696
			Series - 2004 T15 (Class A2)
	7,400,000	i	Morgan Stanley Capital I	5.270	6/13/2041	Aaa		7,303
			Series - 2004 T15 (Class A4)
	1,215,000		Morgan Stanley Capital I	5.330	11/12/2041	Aaa		1,105
			Series - 0 HQ10 (Class A4)
	8,712,000		Morgan Stanley Capital I	5.170	1/14/2042	Aaa		8,746
			Series - 2005 HQ5 (Class A4)
	8,350,000	i	Morgan Stanley Capital I	5.690	4/15/2049	Aaa		6,830
			Series - 2007 IQ14 (Class A4)
	10,017,000		Morgan Stanley Capital I	5.810	12/12/2049	NR		8,573
			Series - 2007 IQ16 (Class A4)
	3,710,298		Morgan Stanley Capital I	4.810	1/14/2042	Aaa		3,734
			Series - 2005 HQ5 (Class A2)
	7,500,000	i	Morgan Stanley Capital I	5.940	10/15/2042	Aaa		7,063
			Series - 2006 IQ11 (Class A4)
	6,710,000		Morgan Stanley Capital I	5.360	3/15/2044	Aaa		5,712
			Series - 2007 IQ13 (Class A4)

348

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     4,587,000	i	Morgan Stanley Capital I	5.730%	7/12/2044	Aaa	$	4,382
			Series - 2006 HQ9 (Class A4)
	1,911,726	g	Wachovia Amortization Controlled Heloc NIM	5.680	8/12/2047	A3		1,455
			Series - 2006 N1 (Class N1)
	8,325,000	g,i	Wachovia Bank Commercial Mortgage Trust	0.360	9/15/2021	A1		4,816
			Series - 2006 WL7A (Class A2)
	5,000,000		Wachovia Bank Commercial Mortgage Trust	5.380	12/15/2043	Aaa		3,389
			Series - 2007 C30 (Class AM)
	2,600,000		Wachovia Bank Commercial Mortgage Trust	5.420	4/15/2047	Aaa		2,547
			Series - 2007 C31 (Class A2)
	4,000,000	i	Wachovia Bank Commercial Mortgage Trust	6.100	2/15/2051	Aaa		2,632
			Series - 2007 C33 (Class AM)
	9,190,203	i	Wells Fargo Mortgage Backed Securities Trust	5.030	3/25/2036	NR		7,886
			Series - 2006 AR2 (Class 2A3)
	6,587,457	i	Wells Fargo Mortgage Backed Securities Trust	5.860	4/25/2036	NR		5,107
			Series - 2006 AR4 (Class 1A1)
			TOTAL OTHER MORTGAGE BACKED					352,930
			TOTAL STRUCTURED ASSETS					675,317
			(Cost $726,213)
			TOTAL BONDS					10,000,332
			(Cost $9,672,711)

SHARES			COMPANY
PREFERRED STOCKS - 0.03%
MORTGAGE BACKED - 0.03%
	470,597	*	Federal Home Loan Mortgage Corp (FHLMC)	8.38%	12/30/2049	Ca	852
	1,527,061	*	Federal National Mortgage Association (FNMA)	8.25	12/30/2049	Ca	2,458
			Total MORTGAGE BACKED				3,310
			TOTAL PREFERRED STOCKS				3,310
			(Cost $49,941)
TIAA-CREF MUTUAL FUND- 0.05%
	522,097	a	TIAA-CREF High-Yield Fund				4,720
			TOTAL TIAA-CREF MUTUAL FUND				4,720
			(Cost $4,829)

PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 9.90%
COMMERCIAL PAPER - 0.15%
$	14,931,000	Societe Generale North America, Inc	0.000	10/14/2009	14,930
		TOTAL COMMERCIAL PAPER			14,930
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 8.76%
		Federal Home Loan Bank (FHLB)
	5,996,000	FHLB	0.000	10/14/2009	5,996
		Federal Home Loan Mortgage Corp (FHLMC)
	20,000,000	FHLMC	0.000	10/16/2009	19,999
	20,000,000	FHLMC	0.000	10/9/2009	20,000
	20,000,000	FHLMC	0.000	10/7/2009	20,000

349

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     43,089,000	FHLMC	0.000%	10/13/2009		$	43,087
	47,022,000	FHLMC	0.000	10/5/2009			47,021
	62,394,000	FHLMC	0.000	10/6/2009			62,393
	33,400,000	FHLMC	0.000	10/26/2009			33,397
	55,919,000	FHLMC	0.000	10/19/2009			55,916
	26,745,000	FHLMC	0.000	11/9/2009			26,741
	33,080,000	FHLMC	0.000	11/2/2009			33,077
	10,500,000	FHLMC	0.000	11/24/2009			10,498
		Federal National Mortgage Association (FNMA)
	70,207,000	FNMA	0.000	10/14/2009			70,205
	12,989,000	FNMA	0.000	10/28/2009			12,988
	32,885,000	FNMA	0.000	10/21/2009			32,883
	121,921,000	FNMA	0.000	10/15/2009			121,916
	20,000,000	FNMA	0.000	10/23/2009			19,999
	26,257,000	FNMA	0.000	10/20/2009			26,255
	11,421,000	FNMA	0.000	10/29/2009			11,420
	26,274,000	FNMA	0.000	10/19/2009			26,273
	15,000,000	FNMA	0.000	10/1/2009			15,000
	20,000,000	FNMA	0.000	10/26/2009			19,998
	16,000,000	FNMA	0.000	10/2/2009			16,000
	12,401,000	FNMA	0.000	10/30/2009			12,400
	11,456,000	FNMA	0.000	11/6/2009			11,455
	25,000,000	FNMA	0.000	11/19/2009			24,997
	12,500,000	FNMA	0.000	11/18/2009			12,498
	15,000,000	FNMA	0.000	11/16/2009			14,998
	16,000,000	FNMA	0.000	11/2/2009			15,999
	20,000,000	FNMA	0.000	11/20/2009			19,999
	25,000,000	FNMA	0.000	12/1/2009			24,997
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES					888,405
U.S. TREASURY BILLS - 0.99%
	50,000,000	United States Treasury Bill	0.000	10/22/2009			49,992
	50,000,000	United States Treasury Bill	0.000	10/8/2009			49,998
		TOTAL U.S. TREASURY BILLS					99,990
		TOTAL SHORT-TERM INVESTMENTS					1,003,325
		(Cost $1,003,287)
		TOTAL PORTFOLIO - 108.60%					11,011,687
		(Cost $10,730,768)
		OTHER ASSETS AND LIABILITIES, NET - (8.60)%					(872,103	)
		NET ASSETS - 100.00%				$	10,139,584

	The following abbreviations are used in portfolio descriptions:
LLC	Limited Liability Company
LP	Limited Partnership
NR	Not Rated by Moody’s
plc	Public Limited Company
WR	Withdrawn Rating

350

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

†	As provided by Moody’s Investors Services
*	Non-income producing
a	Affiliated Holding.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At September 30, 2009 the value of these securities amounted to 449,467,156 or 4.43% of net assets.
h	These securities were purchased on a delayed delivery basis.
i	Floating rate or variable rate securities reflects the rate in effect as of September 30, 2009.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
o	Payment in Kind Bond
p	Security participated in the FDIC Temporary Liquidity Guarantee Program.
	Cost amounts are in thousands.
	At September 30, 2009, the net unrealized appreciation on investment was $280,919,146, consisting of gross unrealized appreciation of $429,606,854 and gross unrealized depreciation of $(148,687,708).
	Companies in which the Account held 5% or more of the outstanding voting shares are considered “affiliated companies” of the Account pursuant to the Investment Company Act of 1940. Additionally, investments in other investment companies advised by Investment Management or affiliated entities are treated as affiliated companies. Information regarding transactions with affiliated companies is as follows:

COLLEGE RETIREMENT EQUITIES FUND
TRANSACTIONS WITH AFFILIATED COMPANIES-BOND MARKET ACCOUNT
JANUARY 1, 2009 - SEPTEMBER 30, 2009

Issue	Value at December 31, 2008			Purchase Cost		Sales Proceeds		Realized Gain/(Loss)		Dividend Income		Withholding Expense		Shares at September 30, 2009		Value at September 30, 2009
TIAA-CREF High Yield Fund		$	3,467,512	$	293,365	$	—	$	—	$	293,365	$	—		522,097	$	4,719,757
				$	293,365	$	—	$	—	$	293,365	$	—		522,097	$	4,719,757

351

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND
INFLATION-LINKED BOND ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2009

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
GOVERNMENT BONDS - 99.16%
U.S. TREASURY SECURITIES - 99.16%
	$     402,467,618	k	United States Treasury Inflation Indexed Bonds	2.380%	1/15/2025	$	421,961
	270,426,171	k	United States Treasury Inflation Indexed Bonds	2.000	1/15/2026		269,834
	214,331,544	k	United States Treasury Inflation Indexed Bonds	2.380	1/15/2027		225,249
	206,730,800	k	United States Treasury Inflation Indexed Bonds	1.750	1/15/2028		198,074
	266,339,288	k	United States Treasury Inflation Indexed Bonds	3.630	4/15/2028		329,262
	213,056,316	k	United States Treasury Inflation Indexed Bonds	2.500	1/15/2029		228,969
	314,265,496	k	United States Treasury Inflation Indexed Bonds	3.880	4/15/2029		404,617
	83,427,196	k	United States Treasury Inflation Indexed Bonds	3.380	4/15/2032		103,007
	174,193,577	k	United States Treasury Inflation Indexed Notes	3.500	1/15/2011		181,325
	268,743,179	k	United States Treasury Inflation Indexed Notes	2.380	4/15/2011		276,722
	107,272,287	k	United States Treasury Inflation Indexed Notes	3.380	1/15/2012		114,077
	214,092,760	k	United States Treasury Inflation Indexed Notes	2.000	4/15/2012		221,854
	356,791,696	k	United States Treasury Inflation Indexed Notes	3.000	7/15/2012		379,314
	203,629,164	k	United States Treasury Inflation Indexed Notes	0.630	4/15/2013		203,184
	341,111,734	k	United States Treasury Inflation Indexed Notes	1.880	7/15/2013		352,411
	353,793,839	k	United States Treasury Inflation Indexed Notes	2.000	1/15/2014		366,398
	114,991,060	k	United States Treasury Inflation Indexed Notes	1.250	4/15/2014		116,824
	314,395,693	k	United States Treasury Inflation Indexed Notes	2.000	7/15/2014		326,775
	308,954,529	k	United States Treasury Inflation Indexed Notes	1.630	1/15/2015		314,747
	269,716,356	k	United States Treasury Inflation Indexed Notes	1.880	7/15/2015		278,651
	263,075,222	k	United States Treasury Inflation Indexed Notes	2.000	1/15/2016		272,941
	265,082,866	k	United States Treasury Inflation Indexed Notes	2.500	7/15/2016		284,136
	229,131,527	k	United States Treasury Inflation Indexed Notes	2.380	1/15/2017		243,810
	210,419,775	k	United States Treasury Inflation Indexed Notes	2.630	7/15/2017		228,437
	210,277,400	k	United States Treasury Inflation Indexed Notes	1.630	1/15/2018		212,380
	207,332,196	k	United States Treasury Inflation Indexed Notes	1.380	7/15/2018		205,259
	202,624,180	k	United States Treasury Inflation Indexed Notes	2.130	1/15/2019		212,755
	117,506,560	k	United States Treasury Inflation Indexed Notes	1.880	7/15/2019		120,958
			TOTAL U.S. TREASURY SECURITIES				7,093,931
			TOTAL GOVERNMENT BONDS				7,093,931
			(Cost $6,859,040)
			TOTAL PORTFOLIO - 99.16%				7,093,931
			(Cost $6,859,040)
			OTHER ASSETS AND LIABILITIES,NET - 0.84%				60,346
			NET ASSETS - 100.00%			$	7,154,277

k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
	Cost amounts are in thousands.
	At September 30, 2009, the net unrealized appreciation on investment was $234,891,866, consisting of gross unrealized appreciation of $240,056,052 and gross unrealized depreciation of $(5,164,186).

352

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND
SOCIAL CHOICE ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2009

					MATURITY			VALUE
PRINCIPAL			ISSUER	RATE	DATE	RATING†		(000)
BONDS - 38.38%
CORPORATE BONDS - 10.48%
AGENCY SECURITIES - 1.01%
	$     21,000,000	p	Citigroup Funding, Inc	1.880%	10/22/12	Aaa	$	21,041
	10,000,000	p	Citigroup Funding, Inc	2.250	12/10/12	Aaa		10,135
	15,000,000	p	Citigroup Funding, Inc	2.000	3/30/12	Aaa		15,164
	4,000,000	p	General Electric Capital Corp	2.200	6/8/12	Aaa		4,062
	15,000,000	p	General Electric Capital Corp	2.250	3/12/12	Aaa		15,271
	17,506,000	p	GMAC, Inc	2.200	12/19/12	Aaa		17,693
			TOTAL AGENCY SECURITIES					83,366
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.06%
	5,000,000		AutoZone, Inc	5.750	1/15/15	Baa2		5,324
			TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS					5,324
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.08%
	5,000,000		Home Depot, Inc	5.880	12/16/36	Baa1		4,851
	1,850,000		Home Depot, Inc	5.250	12/16/13	Baa1		1,972
			TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES					6,823
BUSINESS SERVICES - 0.06%
	5,000,000	p	Microsoft Corp	2.950	6/1/14	Aaa		5,067
			TOTAL BUSINESS SERVICES					5,067
CHEMICALS AND ALLIED PRODUCTS - 0.35%
	1,000,000		Abbott Laboratories	3.750	3/15/11	A1		1,036
	3,335,000		Air Products & Chemicals, Inc	4.380	8/21/19	A2		3,406
	2,500,000		Amgen, Inc	6.400	2/1/39	A3		2,866
	965,000		Clorox Co	5.450	10/15/12	Baa2		1,034
	3,000,000		Colgate-Palmolive Co	3.150	8/5/15	Aa2		3,077
	2,500,000		Praxair, Inc	5.250	11/15/14	A2		2,771
	5,000,000		Praxair, Inc	4.500	8/15/19	A2		5,157
	5,000,000		Praxair, Inc	4.380	3/31/14	A2		5,297
	4,000,000		Procter & Gamble Co	4.600	1/15/14	Aa3		4,297
			TOTAL CHEMICALS AND ALLIED PRODUCTS					28,941
COMMUNICATIONS - 0.63%
	5,000,000	g	Cellco Partnership	3.750	5/20/11	A2		5,159

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

					MATURITY		VALUE
PRINCIPAL			ISSUER	RATE	DATE	RATING†	(000)
	$     5,000,000		CenturyTel, Inc	6.150%	9/15/19	Baa3	$	5,015
	5,000,000	g	DirecTV Holdings LLC	5.880	10/1/19	Ba2		4,969
	2,750,000	g	DirecTV Holdings LLC	4.750	10/1/14	Ba2		2,750
	1,265,000		Sprint Capital Corp	8.380	3/15/12	Ba2		1,306
	3,235,000		Sprint Nextel Corp	6.000	12/1/16	Ba2		2,887
	3,900,000		Time Warner Cable, Inc	8.250	4/1/19	Baa2		4,714
	3,500,000		Time Warner Cable, Inc	6.750	6/15/39	Baa2		3,785
	3,200,000		Time Warner Cable, Inc	8.750	2/14/19	Baa2		3,942
	2,500,000		Verizon Communications, Inc	4.350	2/15/13	A3		2,628
	1,400,000		Verizon Communications, Inc	6.400	2/15/38	A3		1,496
	5,000,000		Verizon Communications, Inc	6.350	4/1/19	A3		5,521
	3,000,000		Verizon Communications, Inc	8.950	3/1/39	A3		4,110
	1,000,000		Verizon New Jersey, Inc	5.880	1/17/12	Baa1		1,075
	2,500,000		Viacom, Inc	4.380	9/15/14	Baa3		2,553
			TOTAL COMMUNICATIONS					51,910
DEPOSITORY INSTITUTIONS - 2.10%
	3,325,000		American Express Co	8.130	5/20/19	A3		3,932
	1,675,000		American Express Co	7.000	3/19/18	A3		1,843
	5,000,000	i	American Express Credit Corp	0.400	10/4/10	A2		4,937
	2,500,000	p	Bank of America Corp	2.380	6/22/12	Aaa		2,549
	3,400,000		Bank of New York Mellon Corp	4.300	5/15/14	Aa2		3,600
	2,675,000		Bank of New York Mellon Corp	5.450	5/15/19	Aa2		2,892
	5,000,000		BB&T Corp	3.380	9/25/13	A1		5,020
	5,000,000		BB&T Corp	3.850	7/27/27	A1		5,158
	5,000,000		Capital One Bank USA NA	8.800	7/15/19	A3		5,780
	3,500,000		Capital One Capital V	10.250	8/15/39	Baa2		3,868
	4,000,000		Capital One Financial Corp	5.700	9/15/11	Baa1		4,179
	3,000,000	p	CitiBank NA	1.380	8/10/11	Aaa		3,011
	10,000,000	p	Citigroup, Inc	2.130	4/30/12	Aaa		10,142
	3,000,000	g	Corestates Capital Trust I	8.000	12/15/26	A3		2,752
	8,800,000	g	Depfa ACS Bank	5.130	3/16/37	Aa2		6,628
	5,000,000	i	First Tennessee Bank NA	0.590	2/14/11	A3		4,625
	3,000,000		First Union National Bank of Florida	6.180	2/15/36	Aa3		3,148
	5,000,000	e,p	JPMorgan Chase & Co	2.130	12/26/12	Aaa		5,067
	4,500,000	e,p	KeyBank NA	3.200	6/15/12	Aaa		4,690
	1,500,000	e	M&I Marshall & Ilsley Bank	5.300	9/8/11	A2		1,419
	5,000,000	i	Manufacturers & Traders Trust Co	5.630	12/1/21	A3		4,053
	3,612,000	i	Manufacturers & Traders Trust Co	5.590	12/28/20	A3		2,986
	5,000,000		Mellon Funding Corp	6.400	5/14/11	Aa3		5,337
	5,000,000		Mercantile Bankshares Corp	4.630	4/15/13	Baa1		4,959
	1,250,000		Mercantile-Safe Deposit & Trust Co	5.700	11/15/11	A1		1,294
	4,000,000	p	New York Community Bank	3.000	12/16/11	Aaa		4,119
	6,100,000		Northern Trust Corp	4.630	5/1/14	A1		6,491
	2,500,000	g	Principal Life Global Funding I	5.130	10/15/13	Aa3		2,535
	4,000,000	p	Regions Bank	3.250	12/9/11	Aaa		4,161
	5,000,000		Silicon Valley Bank	5.700	6/1/12	A2		5,033
	3,000,000	p	Sovereign Bank	2.750	1/17/12	Aaa		3,088
	8,050,000	e,p	State Street Corp	2.150	4/30/12	Aaa		8,177
	3,000,000		State Street Corp	4.300	5/30/14	A1		3,152
	4,000,000		Union Bank of California NA	5.950	5/11/16	A3		3,977
	3,000,000		US Bank NA	4.950	10/30/14	Aa2		3,218
	5,000,000		Webster Bank	5.880	1/15/13	A3		4,197
	3,100,000		Wells Fargo & Co	5.630	12/11/17	A1		3,256
	5,000,000		Wells Fargo & Co	3.750	10/1/14	A1		4,975

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

					MATURITY		VALUE
PRINCIPAL			ISSUER	RATE	DATE	RATING†	(000)
	$     5,000,000	e,p	Wells Fargo & Co	2.130%	6/15/12	Aaa	$	5,072
	5,000,000		Wells Fargo Bank NA	4.750	2/9/15	Aa3		5,070
	4,000,000		Zions Bancorporation	7.750	9/23/14	Baa3		3,580
			TOTAL DEPOSITORY INSTITUTIONS					173,970
EATING AND DRINKING PLACES - 0.02%
	1,250,000		McDonald’s Corp	5.000	2/1/19	A3		1,330
			TOTAL EATING AND DRINKING PLACES					1,330
ELECTRIC, GAS, AND SANITARY SERVICES - 1.44%
	1,875,000		AGL Capital Corp	5.250	8/15/19	Baa1		1,924
	2,000,000		Atmos Energy Corp	8.500	3/15/19	Baa2		2,469
	1,000,000		Avista Corp	5.130	4/1/22	Baa1		1,020
	5,000,000		Avista Corp	5.950	6/1/18	Baa1		5,363
	5,000,000		CenterPoint Energy Houston Electric LLC	7.000	3/1/14	Baa1		5,682
	2,000,000		Connecticut Light & Power	5.750	3/1/37	A2		2,160
	1,200,000		Connecticut Light & Power Co	5.500	2/1/19	A2		1,299
	3,784,988	g	Great River Energy	5.830	7/1/17	A3		4,011
	5,000,000		Hawaiian Electric Industries, Inc	6.140	8/15/11	Baa2		5,229
	3,000,000		Idaho Power Co	7.200	12/1/09	A3		3,029
	5,000,000		Idaho Power Co	5.500	4/1/33	A3		4,903
	2,500,000		Idaho Power Co	6.250	10/15/37	A3		2,710
	7,500,000	g	International Transmission Co	4.450	7/15/13	A2		7,664
	1,550,000		Laclede Gas Co	6.500	11/15/10	A2		1,605
	2,000,000		Laclede Gas Co	6.150	6/1/36	A2		2,067
	5,000,000		National Fuel Gas Co	6.500	4/15/18	Baa1		5,316
	6,000,000		Nevada Power Co	6.650	4/1/36	Baa3		6,540
	2,000,000		Nicor, Inc	6.580	2/15/28	Aa3		2,298
	1,750,000		NiSource Finance Corp	10.750	3/15/16	Baa3		2,057
	1,500,000		Northwest Natural Gas Co	5.620	11/21/23	A1		1,623
	4,000,000	e	ONEOK Partners LP	5.900	4/1/12	Baa2		4,214
	2,000,000		Pacific Gas & Electric Co	6.250	3/1/39	A3		2,288
	5,000,000		Pacific Gas & Electric Co	8.250	10/15/18	A3		6,353
	500,000		Piedmont Natural Gas Co, Inc	7.800	9/29/10	A3		524
	3,850,000		Portland General Electric Co	6.100	4/15/19	A3		4,352
	2,500,000		PPL Electric Utilities Corp	6.250	5/15/39	A3		2,853
	2,000,000		Puget Sound Energy, Inc	6.270	3/15/37	Baa1		2,173
	2,000,000		Questar Pipeline Co	6.570	9/26/11	A3		2,152
	2,000,000		San Diego Gas & Electric Co	6.000	6/1/39	Aa3		2,291
	2,800,000		Southern California Edison Co	6.050	3/15/39	A1		3,227
	5,000,000		Spectra Energy Capital LLC	5.650	3/1/20	Baa2		5,126
	2,500,000		Tennessee Gas Pipeline Co	8.000	2/1/16	Baa3		2,838
	2,500,000		Texas Eastern Transmission LP	7.300	12/1/10	Baa1		2,622
	3,000,000		Transcontinental Gas Pipe Line Co LLC	6.050	6/15/18	Baa2		3,251
	5,000,000		Washington Gas Light Co	5.440	8/11/25	A2		4,589
	1,000,000		Wisconsin Power & Light Co	5.000	7/15/19	A2		1,030
			TOTAL ELECTRIC, GAS, AND SANITARY SERVICES					118,852
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.05%
	2,500,000		Whirlpool Corp	8.000	5/1/12	Baa3		2,699
	1,100,000		Whirlpool Corp	8.600	5/1/14	Baa3		1,230
			TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT					3,929

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

					MATURITY		VALUE
PRINCIPAL			ISSUER	RATE	DATE	RATING†	(000)
FABRICATED METAL PRODUCTS - 0.05%
	$     4,000,000		Stanley Works	5.000%	3/15/10	A3	$	4,051
			TOTAL FABRICATED METAL PRODUCTS					4,051
FOOD AND KINDRED PRODUCTS - 0.21%
	5,000,000	e	Coca-Cola Enterprises, Inc	5.000	8/15/13	A3		5,373
	1,500,000		Coca-Cola Enterprises, Inc	4.500	8/15/19	A3		1,542
	5,000,000		General Mills, Inc	5.650	2/15/19	Baa1		5,415
	1,600,000	g	HJ Heinz Finance Co	7.130	8/1/39	Baa2		1,894
	535,000		Kraft Foods, Inc	6.130	2/1/18	Baa2		567
	2,000,000		PepsiCo, Inc	7.900	11/1/18	Aa2		2,525
			TOTAL FOOD AND KINDRED PRODUCTS					17,316
FOOD STORES - 0.01%
	1,000,000		Safeway, Inc	5.000	8/15/19	Baa2		1,023
			TOTAL FOOD STORES					1,023
FURNITURE AND FIXTURES - 0.05%
	4,000,000		Leggett & Platt, Inc	4.700	4/1/13	Baa1		4,033
			TOTAL FURNITURE AND FIXTURES					4,033
GENERAL BUILDING CONTRACTORS - 0.06%
	3,000,000		Lennar Corp	5.130	10/1/10	B3		2,993
	2,000,000		Ryland Group, Inc	5.380	5/15/12	Ba3		2,000
			TOTAL GENERAL BUILDING CONTRACTORS					4,993
GENERAL MERCHANDISE STORES - 0.04%
	2,500,000		TJX Cos, Inc	6.950	4/15/19	A3		2,935
			TOTAL GENERAL MERCHANDISE STORES					2,935
HEALTH SERVICES - 0.14%
	5,000,000		Howard Hughes Medical Institute	3.450	9/1/14	Aaa		5,109
	5,000,000		Providence Health & Services	5.050	10/1/14	Aa2		5,135
	1,500,000		Quest Diagnostics, Inc	6.400	7/1/17	Baa3		1,631
			TOTAL HEALTH SERVICES					11,875
HOLDING AND OTHER INVESTMENT OFFICES - 0.29%
	5,000,000		ANDREW W MELLON FOUNDATION	3.950	8/1/14	Aaa		5,223
	5,000,000		Brandywine Operating Partnership LP	7.500	5/15/15	Baa3		5,002
	1,000,000		Duke Realty LP	8.250	8/15/19	Baa2		1,044
	1,000,000		Duke Realty LP	7.380	2/15/15	Baa2		1,031
	3,000,000		Highwoods Properties, Inc	5.850	3/15/17	Ba1		2,642
	5,000,000		Kimco Realty Corp	5.300	2/22/11	Baa1		5,051
	1,160,000		Liberty Property LP	7.250	3/15/11	Baa2		1,205
	3,000,000		Washington Real Estate Investment Trust	5.130	3/15/13	Baa1		2,891
			TOTAL HOLDING AND OTHER INVESTMENT OFFICES					24,089

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

					MATURITY		VALUE
PRINCIPAL			ISSUER	RATE	DATE	RATING†	(000)
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.36%
	$     4,340,000		Deere & Co	8.100%	5/15/30	A2	$	5,727
	2,500,000		Dell, Inc	5.880	6/15/19	A2		2,680
	1,500,000		Dell, Inc	3.380	6/15/12	A2		1,554
	3,875,000		Hewlett-Packard Co	2.950	8/15/12	A2		3,973
	2,000,000		Ingersoll-Rand Global Holding Co Ltd	9.500	4/15/14	Baa1		2,363
	7,775,000		Smith International, Inc	6.750	2/15/11	Baa1		7,976
	5,000,000		Timken Co	6.000	9/15/14	Baa3		5,194
			TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT					29,467
INSTRUMENTS AND RELATED PRODUCTS - 0.47%
	5,000,000		Agilent Technologies, Inc	4.450	9/12/12	Baa3		5,054
	5,000,000		Baxter International, Inc	4.500	8/15/19	A3		5,128
	2,000,000		Becton Dickinson and Co	6.000	5/15/39	A2		2,257
	4,000,000		Becton Dickinson and Co	5.000	5/15/19	A2		4,225
	3,000,000		Boston Scientific Corp	6.250	11/15/15	Ba1		3,026
	3,500,000		Medtronic, Inc	4.750	9/15/15	A1		3,792
	2,500,000		Medtronic, Inc	6.500	3/15/39	A1		3,000
	5,000,000		St. Jude Medical, Inc	4.880	7/15/19	Baa1		5,151
	1,750,000		Thermo Fisher Scientific, Inc	5.000	6/1/15	Baa2		1,820
	5,000,000		Xerox Corp	8.250	5/15/14	Baa2		5,683
			TOTAL INSTRUMENTS AND RELATED PRODUCTS					39,136
INSURANCE CARRIERS - 0.68%
	5,000,000		Aflac, Inc	8.500	5/15/19	A2		5,960
	2,800,000	g	Anthem Insurance Co, Inc	9.130	4/1/10	A3		2,871
	3,500,000		Cincinnati Financial Corp	6.130	11/1/34	A3		2,839
	2,500,000	i	Hartford Life Global Funding Trusts	0.400	3/15/11	A3		2,402
	5,000,000	g	Health Care Service Corp	7.750	6/15/11	A1		5,233
	1,200,000	g	Jackson National Life Global Funding	6.130	5/30/12	A1		1,233
	1,945,000	g	John Hancock Global Funding II	7.900	7/2/10	Aa3		2,022
	5,000,000		Markel Corp	7.130	9/30/19	Baa2		5,186
	2,000,000	e	Markel Corp	6.800	2/15/13	Baa2		2,028
	5,300,000		Markel Corp	7.350	8/15/34	Baa2		5,141
	5,000,000	g	Nationwide Life Global Funding I	5.350	3/15/11	A1		4,953
	3,000,000		Progressive Corp	6.380	1/15/12	A1		3,129
	1,036,000		Protective Life Corp	4.300	6/1/13	Baa2		984
	2,500,000		Protective Life Secured Trusts	4.850	8/16/10	A2		2,535
	2,500,000		Protective Life Secured Trusts	4.000	4/1/11	A2		2,483
	2,000,000		Travelers Cos, Inc	5.900	6/2/19	A2		2,241
	5,000,000	e	Unum Group	7.130	9/30/16	Ba1		5,059
			TOTAL INSURANCE CARRIERS					56,299
MEMBERSHIP ORGANIZATIONS - 0.06%
	5,000,000		Nature Conservancy	6.300	7/1/19	Aa2		5,197
			TOTAL MEMBERSHIP ORGANIZATIONS					5,197
MISCELLANEOUS RETAIL - 0.08%
	3,000,000		CVS Caremark Corp	5.750	6/1/17	Baa2		3,212
	758,947	g	CVS Caremark Corp	5.300	1/11/27	Baa2		685
	2,150,000		Staples, Inc	7.750	4/1/11	Baa2		2,322
	500,000		Staples, Inc	9.750	1/15/14	Baa2		601
			TOTAL MISCELLANEOUS RETAIL					6,820

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
MOTION PICTURES - 0.10%
	$     5,234,000		Time Warner Entertainment Co LP	10.150%	5/1/12	Baa2	$	6,060
	2,000,000		Time Warner, Inc	6.750	4/15/11	Baa2		2,138
			TOTAL MOTION PICTURES					8,198
NONMETALLIC MINERALS, EXCEPT FUELS - 0.03%
	2,500,000	e	Vulcan Materials Co	6.300	6/15/13	Baa2		2,674
			TOTAL NONMETALLIC MINERALS, EXCEPT FUELS					2,674
OIL AND GAS EXTRACTION - 0.64%
	5,000,000		Apache Corp	5.250	4/15/13	A3		5,364
	3,000,000		Apache Corp	6.000	1/15/37	A3		3,338
	3,500,000		Chesapeake Energy Corp	6.500	8/15/17	Ba3		3,211
	2,500,000		Devon Energy Corp	6.300	1/15/19	Baa1		2,758
	5,000,000		Diamond Offshore Drilling, Inc	4.880	7/1/15	Baa1		5,201
	3,000,000		EOG Resources, Inc	5.630	6/1/19	A3		3,284
	5,000,000		EQT Corp	8.130	6/1/19	Baa1		5,707
	2,500,000		Noble Energy, Inc	8.250	3/1/19	Baa2		3,018
	3,000,000		Questar Market Resources, Inc	6.050	9/1/16	Baa3		3,021
	2,500,000		Rowan Cos, Inc	3.530	5/1/20	NR		2,546
	5,000,000		SEACOR Holdings, Inc	7.380	10/1/19	Ba1		5,022
	2,000,000		Valero Logistics Operations LP	6.050	3/15/13	Baa3		2,053
	2,500,000		XTO Energy, Inc	6.380	6/15/38	Baa2		2,659
	5,000,000		XTO Energy, Inc	6.250	4/15/13	Baa2		5,441
			TOTAL OIL AND GAS EXTRACTION					52,623
PAPER AND ALLIED PRODUCTS - 0.18%
	4,000,000		Bemis Co, Inc	6.800	8/1/19	Baa1		4,464
	1,000,000		Bemis Co, Inc	5.650	8/1/14	Baa1		1,062
	3,860,000		International Paper Co	7.500	8/15/21	Baa3		4,090
	5,000,000		MeadWestvaco Corp	7.380	9/1/19	Ba1		5,238
			TOTAL PAPER AND ALLIED PRODUCTS					14,854
PETROLEUM AND COAL PRODUCTS - 0.12%
	2,500,000		Hess Corp	8.130	2/15/19	Baa2		3,003
	5,000,000		Marathon Oil Corp	5.900	3/15/18	Baa1		5,226
	1,430,000		Marathon Oil Corp	6.500	2/15/14	Baa1		1,575
			TOTAL PETROLEUM AND COAL PRODUCTS					9,804
PIPELINES, EXCEPT NATURAL GAS - 0.03%
	2,500,000		Kinder Morgan Energy Partners LP	7.300	8/15/33	Baa2		2,677
			TOTAL PIPELINES, EXCEPT NATURAL GAS					2,677
PRINTING AND PUBLISHING - 0.03%
	2,500,000		Dun & Bradstreet Corp	5.500	3/15/11	A3		2,566
			TOTAL PRINTING AND PUBLISHING					2,566

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
RAILROAD TRANSPORTATION - 0.30%
	$     5,000,000		Burlington Northern Santa Fe Corp	4.700%	10/1/19	Baa1	$	5,060
	1,440,000		CSX Corp	6.150	5/1/37	Baa3		1,525
	1,900,000		CSX Transportation, Inc	7.820	4/1/11	NR		2,049
	5,000,000		Norfolk Southern Corp	5.900	6/15/19	Baa1		5,559
	2,500,000	g	Norfolk Southern Corp	5.750	1/15/16	Baa1		2,732
	4,815,000		Norfolk Southern Corp	5.640	5/17/29	Baa1		5,017
	2,500,000		Norfolk Southern Corp	5.590	5/17/25	Baa1		2,579
	202,668	g	Sea-Land Service, Inc	6.600	1/2/11	Baa3		202
	202,668	g	Sea-Land Service, Inc	6.600	1/2/11	Baa3		202
	202,668	g	Sea-Land Service, Inc	6.600	1/2/11	Baa3		202
			TOTAL RAILROAD TRANSPORTATION					25,127
SECURITY AND COMMODITY BROKERS - 0.14%
	3,500,000		Charles Schwab Corp	4.950	6/1/14	A2		3,690
	3,000,000	i	Goldman Sachs Capital II	5.790	12/30/49	A3		2,160
	3,500,000	e	Goldman Sachs Group, Inc	3.630	8/1/12	A1		3,593
	2,000,000		Goldman Sachs Group, Inc	6.000	5/1/14	A1		2,175
			TOTAL SECURITY AND COMMODITY BROKERS					11,618
SOCIAL SERVICES - 0.13%
	4,000,000		American National Red Cross	5.570	11/15/17	Baa1		3,747
	2,000,000		American National Red Cross	5.390	11/15/12	Baa1		2,029
	5,145,000		Salvation Army	5.640	9/1/26	Aa3		5,085
			TOTAL SOCIAL SERVICES					10,861
STONE, CLAY, AND GLASS PRODUCTS - 0.04%
	2,500,000	e	3M Co	6.380	2/15/28	Aa2		2,860
			TOTAL STONE, CLAY, AND GLASS PRODUCTS					2,860
TRANSPORTATION BY AIR - 0.09%
	2,000,000	g	Delta Air Lines, Inc	9.500	9/15/14	Ba2		2,000
	2,500,000		FedEx Corp	7.380	1/15/14	Baa2		2,819
	5,000,000	i	JetBlue Airways Corp	0.890	11/15/16	B2		2,900
			TOTAL TRANSPORTATION BY AIR					7,719
TRANSPORTATION EQUIPMENT - 0.09%
	5,000,000	g	Harley-Davidson Funding Corp	6.800	6/15/18	A2		4,869
	2,828,464	g	Southern Capital Corp	5.700	6/30/22	Ba2		1,584
	1,000,000		Union Tank CAR Co	6.790	5/1/10	A1		1,028
			TOTAL TRANSPORTATION EQUIPMENT					7,481
TRANSPORTATION SERVICES - 0.11%
			United Parcel Service of America, Inc (Step Bond 8.375
	1,360,000		until 04/01/20, 7.620 until 04/01/30)	8.380	4/1/30	Aa3		1,773
	3,750,000		United Parcel Service, Inc	3.880	4/1/14	Aa3		3,932
	2,500,000		United Parcel Service, Inc	8.380	4/1/20	Aa3		3,288
			TOTAL TRANSPORTATION SERVICES					8,993
WHOLESALE TRADE-DURABLE GOODS - 0.04%
	3,000,000		Reliance Steel & Aluminum Co	6.200	11/15/16	Baa3		2,971
			TOTAL WHOLESALE TRADE-DURABLE GOODS					2,971

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
WHOLESALE TRADE-NONDURABLE GOODS - 0.11%
	$     2,800,000		Airgas, Inc	4.500%	9/15/14	Baa3	$	2,850
	2,500,000		Procter & Gamble Co	8.750	6/1/22	Aa3		3,333
	2,500,000		SYSCO Corp	6.630	3/17/39	A1		3,056
			TOTAL WHOLESALE TRADE-NONDURABLE GOODS					9,239
			TOTAL CORPORATE BONDS					867,011
			(Cost $834,500)
GOVERNMENT BONDS - 25.46%
AGENCY SECURITIES - 2.29%
	7,706,761		Cal Dive I- Title XI, Inc	4.930	2/1/27	NR		8,075
	11,900,000		Federal Farm Credit Bank (FFCB)	2.630	4/21/11	Aaa		12,215
	5,500,000		Federal Home Loan Bank (FHLB)	5.000	11/17/17	Aaa		6,008
	11,000,000		Federal Home Loan Mortgage Corp (FHLMC)	2.130	9/21/12	Aaa		11,140
	7,780,000		FHLMC	2.500	4/23/14	Aaa		7,793
	5,500,000		FHLMC	3.750	3/27/19	Aaa		5,503
	5,000,000		FHLMC	3.250	7/16/10	Aaa		5,111
	3,000,000		FHLMC	3.500	5/29/13	Aaa		3,154
	2,000,000		FHLMC	4.130	12/21/12	Aaa		2,146
	12,000,000		Federal National Mortgage Association (FNMA)	2.500	5/15/14	Aaa		11,974
	13,500,000		FNMA	3.000	9/16/14	Aaa		13,723
	7,000,000		FNMA	1.380	4/28/11	Aaa		7,061
	3,700,000		FNMA	3.250	8/12/10	Aaa		3,788
	4,000,000	j	Government Trust Certificate	0.000	4/1/21	NR		2,297
	21,875,000	i	India Government AID Bond	0.580	2/1/27	NR		19,683
	3,780,954		New Valley Generation II	5.570	5/1/20	Aaa		4,071
	3,757,180		New Valley Generation III	4.930	1/15/21	Aaa		3,742
	451,467	m	New Valley Generation III	4.690	1/15/22	Aaa		435
	1,486,956		Overseas Private Investment Corp	5.410	12/15/11	NR		1,541
	2,192,696		Overseas Private Investment Corp	3.420	1/15/15	NR		2,232
	4,625,101		Overseas Private Investment Corp	5.140	12/15/23	NR		4,925
	10,000,000		Private Export Funding Corp	4.900	12/15/11	Aaa		10,824
	6,900,000		Private Export Funding Corp	3.550	4/15/13	Aaa		7,258
	10,000,000		Private Export Funding Corp	4.380	3/15/19	Aaa		10,332
	6,085,000		Private Export Funding Corp	4.970	8/15/13	Aaa		6,684
	1,050,000		Private Export Funding Corp	4.550	5/15/15	Aaa		1,136
	5,007,000		US Department of Housing and Urban Development	5.380	8/1/18	NR		5,565
	10,279,127	g	US Trade Funding Corp	4.260	11/15/14	NR		10,999
			TOTAL AGENCY SECURITIES					189,415
FOREIGN GOVERNMENT BONDS - 1.19%
	4,000,000	g	Belgium Government International Bond	2.880	9/15/14	Aa1		4,006
	3,900,000		Canada Government International Bond	2.380	9/10/14	Aaa		3,877
	1,500,000		Development Bank of Japan	4.250	6/9/15	Aa2		1,565
	2,750,000		Eksportfinans A/S	5.000	2/14/12	Aa1		2,951
	2,000,000		European Investment Bank	4.880	2/15/36	Aaa		2,050
	5,000,000	g	Federal Republic of Germany	3.880	6/1/10	Aaa		5,102
	6,082,000		Hydro Quebec	8.400	1/15/22	Aa2		8,062
	5,000,000	g	International Finance Facility for Immunisation	5.000	11/14/11	Aaa		5,366
	2,850,000		Italy Government International Bond	5.380	6/12/17	NR		3,113

360

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     5,350,000		Japan Finance Corp	2.000%	6/24/11	Aa2	$	5,418
	5,000,000		Oesterreichische Kontrollbank AG.	5.000	4/25/17	Aaa		5,330
	5,000,000		Province of Manitoba Canada	5.000	2/15/12	Aa1		5,200
	8,700,000		Province of Ontario Canada	4.100	6/16/14	Aa1		9,198
	2,500,000		Province of Ontario Canada	3.130	9/8/10	Aa1		2,558
	10,000,000	e	Province of Ontario Canada	2.630	1/20/12	Aa1		10,255
	6,000,000		Province of Ontario Canada	4.000	10/7/19	Aa1		5,996
	5,000,000		Province of Quebec Canada	7.500	9/15/29	Aa2		6,628
	10,000,000		Province of Saskatchewan Canada	8.000	2/1/13	Aa1		11,443
			TOTAL FOREIGN GOVERNMENT BONDS					98,118
MORTGAGE BACKED - 14.58%
	2,757,020		Federal Home Loan Mortgage Corp Gold (FGLMC)	5.000	4/1/38			2,853
	5,601,420		FGLMC	6.000	2/1/38			5,919
	8,827,484		FGLMC	5.000	4/1/38			9,135
	10,148,159		FGLMC	5.500	12/1/33			10,683
	5,526,182		FGLMC	5.500	7/1/38			5,792
	4,484,706		FGLMC	4.500	3/1/23			4,651
	4,802,201		FGLMC	7.000	5/1/35			5,283
	18,005,128		FGLMC	7.000	12/1/33			19,807
	2,563,625		FGLMC	5.500	1/1/19			2,749
	5,657,467		FGLMC	4.500	11/1/18			5,976
	6,307,389		FGLMC	4.500	1/1/19			6,639
	4,932,612		FGLMC	5.500	9/1/33			5,191
	2,280,307		FGLMC	5.000	2/1/19			2,421
	339,414		FGLMC	6.500	12/1/16			364
	2,840,812		FGLMC	6.000	9/1/37			3,005
	638,211		FGLMC	6.000	12/1/17			683
	4,851,305		FGLMC	4.500	11/1/18			5,125
	3,755,870		FGLMC	4.500	10/1/18			3,968
	5,468,916		FGLMC	4.500	9/1/35			5,556
	2,203,493		FGLMC	5.000	10/1/35			2,285
	1,889,530		FGLMC	6.000	5/1/35			2,003
	2,152,670		FGLMC	6.000	5/1/35			2,282
	1,683,575		FGLMC	6.000	5/1/35			1,785
	1,563,207		FGLMC	5.500	12/1/34			1,644
	4,193,747		FGLMC	5.500	9/1/33			4,413
	827,388		FGLMC	6.000	5/1/35			877
	2,389,105		FGLMC	5.500	6/1/35			2,510
	1,032,771		FGLMC	6.000	5/1/35			1,095
	10,492,853		FGLMC	5.000	9/1/35			10,880
	578,525		FGLMC	6.000	5/1/35			613
	6,240,175		FGLMC	4.500	9/1/35			6,339
	2,191,040		FGLMC	4.500	9/1/35			2,226
	2,318,758		FGLMC	6.000	8/1/35			2,458
	38,475		FGLMC	6.000	3/1/11			40
	119,650		FGLMC	8.000	1/1/31			136
	913,010		FGLMC	4.500	12/1/35			927
	364,133		FGLMC	7.000	10/1/20			405
	2,848,281		FGLMC	5.000	11/1/35			2,953
	3,474,935		FGLMC	4.500	7/1/33			3,538
	13,772,799		FGLMC	4.500	6/1/21			14,420
	24,245		FGLMC	7.000	5/1/23			27
	3,745,992		FGLMC	4.500	6/1/21			3,922
	413,627		FGLMC	4.500	7/1/20			433

361

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
	$         589,347		FGLMC	6.500%	5/1/36	$	629
	2,382,615		FGLMC	6.500	10/1/36		2,544
	11,903,649		FGLMC	5.000	1/1/34		12,362
	1,780,271		FGLMC	7.000	1/1/36		1,935
	1,668,010		FGLMC	5.000	2/1/36		1,730
	4,031,085		FGLMC	5.000	7/1/39		4,171
	5,962,563		FGLMC	4.000	6/1/39		5,902
	5,006,168		FGLMC	4.000	7/1/24		5,101
	5,000,000		FGLMC	6.500	10/15/39		5,328
	1,935,426		FGLMC	5.000	4/1/23		2,034
	1,987,803		FGLMC	4.500	9/1/24		2,060
	2,508,582		FGLMC	6.000	9/1/34		2,665
	4,431,366		FGLMC	6.500	11/1/37		4,730
	1,830,622		FGLMC	4.500	1/1/20		1,927
	16,000,000		FGLMC	6.000	10/15/39		16,885
	1,977,691		FGLMC	4.500	5/1/39		2,003
	3,982,618		FGLMC	5.500	1/1/39		4,174
	3,516,700		FGLMC	5.000	5/1/34		3,650
	11,929,440		FGLMC	4.500	6/1/39		12,085
	24,613,106		FGLMC	5.500	4/1/36		25,857
	2,877,315		FGLMC	6.000	11/1/38		3,041
	7,621,579	i	Federal Home Loan Mortgage Corp (FHLMC)	5.870	4/1/37		8,011
	8,092,549	i	FHLMC	5.740	2/1/37		8,532
	4,175,378	i	FHLMC	3.650	2/1/36		4,228
	2,032,352	i	FHLMC	4.860	9/1/36		2,088
	10,211,489	i	FHLMC	5.770	3/1/37		10,755
	6,765,599	i	FHLMC	5.830	8/1/37		7,188
	12,625,249	i	FHLMC	5.840	9/1/37		13,407
	6,502,330	i	FHLMC	5.790	7/1/36		6,855
	12,297,039	i	FHLMC	6.070	9/1/36		13,039
	6,124,203	i	Federal National Mortgage Association (FNMA)	5.770	12/1/36		6,458
	4,149,560	i	FNMA	5.930	7/1/36		4,376
	1,909,641		FNMA	6.500	8/1/37		2,044
	5,287,805		FNMA	6.500	3/1/37		5,664
	1,277,279		FNMA	6.500	8/1/37		1,367
	3,257,174		FNMA	6.000	9/1/37		3,444
	3,566,680		FNMA	6.000	9/1/37		3,771
	1,359,432		FNMA	7.000	4/1/37		1,485
	3,069,596		FNMA	6.500	9/1/36		3,288
	2,153,027		FNMA	7.000	2/1/37		2,352
	27,052,900	i	FNMA	5.880	1/1/37		28,550
	1,549,168		FNMA	6.500	2/1/36		1,659
	11,122,418		FNMA	5.500	10/1/35		11,681
	4,808,659		FNMA	5.000	10/1/35		4,985
	783,146		FNMA	6.000	7/1/35		830
	737,753		FNMA	5.500	5/1/35		775
	454,091		FNMA	5.500	5/1/35		477
	6,581,003		FNMA	5.500	11/1/35		6,911
	1,077,902		FNMA	6.500	2/1/36		1,156
	2,163,770		FNMA	5.500	4/1/35		2,272
	10,289,632		FNMA	4.000	10/1/35		10,205
	2,823,687	i	FNMA	5.740	2/1/36		2,975
	6,808,819	i	FNMA	5.850	6/1/36		7,190
	3,123,585		FNMA	6.500	9/1/37		3,344
	5,270,252		FNMA	5.000	8/1/35		5,463
	11,909,171		FNMA	4.500	5/1/35		12,146

362

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     4,329,510		FNMA	5.000%	2/1/37	$	4,479
	1,628,204		FNMA	5.000	3/1/20		1,730
	2,411,573		FNMA	5.000	3/1/21		2,562
	807,392		FNMA	6.000	12/1/34		858
	9,224,225		FNMA	5.000	7/1/23		9,686
	14,000,000		FNMA	5.000	10/25/38		14,459
	3,664,289		FNMA	5.500	5/1/35		3,848
	46,000,000		FNMA	6.000	10/25/38		48,531
	45,000,000		FNMA	6.500	10/25/38		48,094
	2,761,232		FNMA	5.000	12/1/17		2,935
	1,645,346		FNMA	6.500	9/1/37		1,761
	1,863,640	i	FNMA	5.890	10/1/37		1,959
	5,499,409		FNMA	7.000	11/1/37		6,007
	2,153,259		FNMA	6.000	9/1/37		2,277
	918,326		FNMA	6.500	9/1/37		983
	2,714,042		FNMA	6.000	9/1/37		2,869
	526,200		FNMA	6.500	3/1/38		563
	1,378,900		FNMA	6.500	3/1/38		1,476
	4,823,226		FNMA	4.500	3/1/23		5,005
	3,107,603		FNMA	6.500	3/1/38		3,327
	127,149		FNMA	6.500	2/1/38		136
	362,778		FNMA	6.500	1/1/38		388
	909,805		FNMA	5.500	6/1/33		957
	388,352		FNMA	5.500	4/1/18		416
	604,196		FNMA	5.000	3/1/34		627
	523,249		FNMA	5.000	3/1/34		543
	1,344,081		FNMA	5.000	3/1/34		1,395
	56,901		FNMA	5.500	5/1/18		61
	402,319		FNMA	5.000	2/1/33		418
	261,661		FNMA	6.500	10/1/16		282
	600,000		FNMA	4.000	2/25/19		609
	481,572		FNMA	6.500	2/1/18		518
	4,299,734		FNMA	4.500	3/25/33		4,511
	23,633,210		FNMA	5.000	3/1/34		24,535
	1,941,050		FNMA	5.000	11/1/33		2,015
	3,113,694		FNMA	5.500	4/1/36		3,270
	6,039,675		FNMA	5.500	11/1/18		6,464
	316,667		FNMA	4.500	9/1/33		323
	1,350,408		FNMA	5.000	10/1/33		1,402
	1,486,424		FNMA	5.000	10/1/33		1,543
	2,000,625		FNMA	4.580	5/1/14		2,112
	461,183		FNMA	5.000	3/1/34		479
	1,233,355		FNMA	5.500	7/1/33		1,298
	1,366,350		FNMA	5.000	8/1/33		1,418
	2,330,186		FNMA	4.500	8/1/33		2,377
	3,754,865		FNMA	4.020	8/1/13		3,904
	407,590		FNMA	6.000	1/1/19		439
	89,907		FNMA	7.000	4/1/12		95
	437,791		FNMA	6.000	2/1/19		471
	80,144		FNMA	5.000	6/1/13		83
	1,006,288		FNMA	6.500	4/1/17		1,086
	10,441		FNMA	7.500	10/1/11		11
	111,442		FNMA	8.000	7/1/24		126
	336		FNMA	7.500	10/1/11		0	^
	7,970		FNMA	8.500	11/1/14		9
	6,549		FNMA	8.000	7/1/11		7

363

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$          11,778	FNMA	7.500%	6/1/11	$	12
	243,372	FNMA	5.000	1/1/24		255
	1,694	FNMA	7.500	10/1/11		2
	6,613,985	FNMA	5.000	9/1/35		6,856
	2,716,428	FNMA	4.440	7/1/13		2,855
	3,029,199	FNMA	4.530	10/1/14		3,189
	4,180,759	FNMA	4.270	6/1/14		4,363
	3,156	FNMA	7.500	8/1/11		3
	57,524	FNMA	4.500	6/1/34		59
	724,152	FNMA	5.500	2/1/24		769
	20,803,646	FNMA	5.000	10/1/25		21,772
	43,838	FNMA	8.000	3/1/23		49
	3,356	FNMA	7.500	9/1/11		3
	177,560	FNMA	4.500	7/1/34		181
	56,770	FNMA	4.500	5/1/34		58
	4,800,216	FNMA	6.000	5/1/35		5,089
	247,547	FNMA	4.500	6/1/34		252
	53,505	FNMA	4.500	6/1/34		55
	73,341	FNMA	4.500	6/1/34		75
	99,376	FNMA	4.500	8/1/34		101
	165,683	FNMA	4.500	3/1/19		175
	1,197,301	FNMA	4.500	5/1/34		1,220
	3,284,890	FNMA	5.000	1/1/19		3,490
	65,243	FNMA	4.500	5/1/34		67
	202,897	FNMA	7.000	1/1/34		223
	3,972,622	FNMA	5.000	4/1/34		4,121
	183,012	FNMA	4.500	7/1/34		187
	2,700,791	FNMA	5.500	6/1/35		2,836
	3,314,532	FNMA	5.500	6/1/35		3,481
	753,454	FNMA	5.500	3/1/35		791
	892,450	FNMA	5.500	5/1/35		937
	251,114	FNMA	7.500	6/1/35		278
	2,637,213	FNMA	5.500	6/1/35		2,770
	2,859,562	FNMA	5.500	4/1/35		3,003
	1,494,670	FNMA	4.500	8/1/34		1,523
	49,035	FNMA	4.500	9/1/34		50
	56,997	FNMA	4.500	7/1/34		58
	2,000,040	FNMA	5.500	4/1/35		2,100
	3,518,791	FNMA	5.500	1/1/35		3,698
	10,765,654	FNMA	5.500	1/1/35		11,313
	1,507,903	FNMA	5.500	1/1/34		1,586
	2,793,930	FNMA	5.500	11/1/33		2,939
	372,200	FNMA	5.500	12/1/33		392
	936,479	FNMA	5.500	12/1/33		985
	494,349	FNMA	5.500	12/1/33		520
	2,162,369	FNMA	5.500	11/1/33		2,275
	2,352,911	FNMA	5.500	11/1/33		2,475
	3,870,673	FNMA	5.000	12/1/18		4,112
	1,907,578	FNMA	5.500	11/1/33		2,007
	600,888	FNMA	4.500	5/1/19		633
	1,578,441	FNMA	5.500	11/1/33		1,661
	4,057,809	FNMA	6.000	1/1/39		4,287
	3,830,454	FNMA	5.500	2/1/39		4,013
	4,815,343	FNMA	4.500	2/1/39		4,885
	4,066,017	FNMA	6.000	1/1/39		4,295
	14,537,222	FNMA	4.500	2/1/39		14,746

364

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     5,863,216		FNMA	4.000%	5/1/24	$	5,974
	4,585,727	i	FNMA	5.240	9/1/38		4,831
	24,764,289		FNMA	4.500	5/1/39		25,118
	25,638,987		FNMA	5.000	4/1/39		26,521
	3,795,511		FNMA	6.000	12/1/36		4,016
	4,172,296		FNMA	5.000	2/1/36		4,325
	4,302,572		FNMA	5.500	1/1/39		4,507
	3,958,481		FNMA	4.000	4/1/39		3,925
	5,050,324		FNMA	4.500	1/1/39		5,123
	2,139,001		FNMA	5.000	12/1/20		2,262
	7,912,293		FNMA	4.500	4/1/39		8,025
	3,958,682	i	FNMA	4.890	10/1/38		4,143
	6,052,045		FNMA	5.500	8/1/21		6,420
	3,000,000		FNMA	4.000	10/25/39		2,970
	5,000,000		FNMA	5.500	10/25/39		5,230
	15,000,000		FNMA	4.500	10/25/24		15,530
	2,825,297		FNMA	4.500	8/1/35		2,876
	5,015,251		FNMA	4.500	8/1/39		5,087
	44,000,000		FNMA	4.500	10/25/39		44,564
	9,952,549		FNMA	4.000	9/1/24		10,140
	2,199,057		FNMA	6.500	7/1/32		2,373
	1,472,367		FNMA	4.500	6/1/19		1,551
	704,796		FNMA	4.500	11/1/20		742
	13,987,072		FNMA	6.000	9/1/39		14,775
	3,151,647		FNMA	4.500	8/1/24		3,268
	4,838,421		FNMA	6.000	3/1/36		5,120
	4,961,192		Government National Mortgage Association (GNMA)	6.230	9/15/43		5,082
	2,595,146		GNMA	6.000	8/15/38		2,745
	98,049		GNMA	9.000	12/15/17		107
	2,468,877		GNMA	6.000	8/20/38		2,617
	15,000,000		GNMA	5.500	10/15/38		15,736
	3,203,556		GNMA	5.220	4/15/15		3,263
	8,190,251		GNMA	4.390	8/16/30		8,370
	68,624		GNMA	8.000	6/15/22		77
	46,382		GNMA	6.500	8/15/23		49
	546		GNMA	8.500	10/15/09		1
	407		GNMA	8.500	12/15/09		0	^
	12,808		GNMA	6.500	8/15/23		14
	294,468		GNMA	6.500	5/20/31		318
	1,045,604		GNMA	6.000	10/20/36		1,110
	1,090,776		GNMA	6.000	1/20/37		1,157
	10,000,000		GNMA	4.500	10/15/39		10,147
	22,000,000		GNMA	6.000	10/15/39		23,224
	5,335,762		GNMA	5.500	2/15/37		5,612
	1,152,009		GNMA	5.500	7/15/33		1,217
	6,000,000		GNMA	5.000	10/15/39		6,208
	992,755		GNMA	4.500	5/15/39		1,010
	4,952,227		GNMA	4.500	3/15/39		5,036
	4,290,891		GNMA	5.000	4/15/38		4,450
	1,996,881		GNMA	4.000	8/15/39		1,978
	1,952,526		GNMA	5.000	7/20/39		2,023
	4,046,073		GNMA	6.500	11/20/38		4,301
	5,661,988		GNMA	6.000	2/20/37		6,008
	5,033,679		GNMA	4.500	7/20/39		5,106
			TOTAL MORTGAGE BACKED				1,208,044

365

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
MUNICIPAL BONDS - 1.55%
	$     1,860,000		Allegheny County Redevelopment Authority	5.000%	9/1/11	NR	$	1,940
	1,625,000		Atlanta Urban Residential Finance Authority	5.070	12/1/11	A1		1,643
	4,500,000	g	Basin Electric Power Coop	6.130	6/1/41	Aa3		4,277
	265,000		Bellevue Community Schools	4.630	5/1/10	Aa3		266
	2,390,000		Charlotte-Mecklenburg Hospital Authority	5.000	8/1/15	Aaa		2,502
	5,000,000		Chicago Metropolitan Water Reclamation District- Greater Chicago	5.720	12/1/38	Aaa		5,419
	1,250,000		City & County of Honolulu HI	6.110	7/1/29	Aa3		1,270
	1,500,000		City of Dallas TX	5.200	2/15/35	Aa1		1,450
	4,000,000		City of Dallas TX	5.080	2/15/22	Aa1		4,077
	950,000		City of Eugene OR	6.320	8/1/22	Aa3		1,005
	5,000,000		City of New York NY	4.500	6/1/15	Aa3		5,177
	1,055,000	j	City of Oakland CA	0.000	12/15/11	A1		947
	585,000		County of Harnett NC	5.150	5/1/12	Aa3		588
	2,605,000		County of Mercer NJ	5.380	2/1/17	Aa2		2,662
	4,000,000		Dallas County Hospital District	5.620	8/15/44	Aaa		4,229
			Douglas County Public Utility District No 1 Wells
	1,680,000		Hydroelectric	5.110	9/1/18	Aa2		1,698
	1,400,000		Elkhart Redevelopment District	5.500	6/15/18	Baa1		1,510
	8,395,000		Fiscal Year 2005 Securitization Corp	4.760	8/15/19	Aaa		8,710
	2,000,000		Guadalupe Valley Electric Coop, Inc	5.670	10/1/32	NR		1,705
	1,350,000		Kansas Development Finance Authority	4.720	5/1/15	Aa2		1,398
	1,000,000		Kansas Development Finance Authority	4.590	5/1/14	Aa2		1,040
	3,580,000	g	LL & P Wind Energy, Inc	5.220	12/1/12	A3		3,650
	3,000,000		Metropolitan Washington Airports Authority	5.690	10/1/30	Aa3		2,976
	5,000,000		Metropolitan Water District of Southern California	6.250	7/1/39	Aa2		5,231
	1,000,000		Minnesota State Municipal Power Agency	4.510	10/1/09	A3		1,000
	5,000,000		Mississippi Development Bank Special Obligation	5.320	7/1/14	Baa1		5,121
	1,650,000		New York City Housing Development Corp	4.660	11/1/10	Aa2		1,660
	3,170,000		New York State Environmental Facilities Corp	4.900	12/15/11	NR		3,277
	3,000,000		New York State Urban Development Corp	6.500	12/15/18	NR		3,391
	2,500,000		Newport News Economic Development Authority	5.640	1/15/29	Aa2		2,456
	2,500,000		Oklahoma Capital Improvement Authority	5.180	7/1/14	Aa3		2,666
	2,050,000		State of Hawaii	4.670	5/1/14	Aa2		2,178
	5,570,000		State of Illinois	4.350	6/1/18	A1		5,463
	5,750,000		State of Michigan	4.600	11/1/11	Aa3		6,055
	3,050,000		State of Oregon	5.030	8/1/14	Aa2		3,256
	5,000,000		State of Texas	6.070	10/1/29	Aa1		5,241
	3,265,000		State of Texas	4.900	8/1/20	Aa1		3,229
	5,210,000		State of Washington	5.050	1/1/18	Aa2		5,259
	1,033,000		State of Wisconsin	5.700	5/1/26	Aa3		1,014
	4,250,000		Tennessee State School Bond Authority	7.750	5/1/15	Aa2		4,401
	5,000,000		TUOLUMNE WIND	6.920	1/1/34	A1		5,196
	2,025,000		University Central Fl University Revenues	5.130	10/1/20	WR		1,848
			TOTAL MUNICIPAL BONDS					128,081
U.S. TREASURY SECURITIES - 5.85%
	13,176,000		United States Treasury Bond	5.380	2/15/31			15,655
	5,650,000		United States Treasury Bond	4.380	2/15/38			5,952
	65,800,000		United States Treasury Bond	8.000	11/15/21			93,139
	20,000,000		United States Treasury Bond	5.250	2/15/29			23,216
	5,000,000		United States Treasury Bond	6.380	8/15/27			6,498
	23,540,000		United States Treasury Bond	4.250	5/15/39			24,353

366

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
	$     15,945,000		United States Treasury Note	1.000%	7/31/11		$	15,990
	18,680,000		United States Treasury Note	2.630	6/30/14			19,013
	6,145,000		United States Treasury Note	2.630	7/31/14			6,248
	12,700,000		United States Treasury Note	3.250	7/31/16			12,998
	15,130,000		United States Treasury Note	1.000	8/31/11			15,157
	29,605,000		United States Treasury Note	1.380	9/15/12			29,554
	27,250,000		United States Treasury Note	2.380	8/31/14			27,352
	39,661,000		United States Treasury Note	3.630	8/15/19			40,708
	1,300,000		United States Treasury Note	0.880	4/30/11			1,304
	4,200,000		United States Treasury Note	0.880	1/31/11			4,218
	2,670,000		United States Treasury Note	3.130	9/30/13			2,798
	15,801,000		United States Treasury Note	2.000	11/30/13			15,823
	31,500,000		United States Treasury Note	1.750	3/31/14			30,995
	34,030,000		United States Treasury Note	2.250	5/31/14			34,134
	10,000		United States Treasury Note	0.880	5/31/11			10
	5,000,000		United States Treasury Note	2.630	4/30/16			4,935
	54,601,000		United States Treasury Note	1.880	4/30/14			53,954
			TOTAL U.S. TREASURY SECURITIES					484,004
			TOTAL GOVERNMENT BONDS					2,107,662
			(Cost $2,045,247)
STRUCTURED ASSETS - 2.44%
ASSET BACKED - 1.07%
	3,501,139	i	Chase Funding Loan Acquisition Trust	0.820	6/25/34	Aa1		2,305
			Chase Funding Mortgage Loan Asset-Backed
	681,866	i	Certificates	5.700	2/25/35	Baa2		227
	664,675	i	Countrywide Home Equity Loan Trust	0.460	2/15/29	B3		260
	3,187,652	g	Credit-Based Asset Servicing and Securitization LLC	6.160	12/25/36	Aaa		2,913
	12,000,000	g	Flagstar Home Equity Loan Trust	5.780	1/25/35	B3		6,946
	3,017,891		GMAC Mortgage Corporation Loan Trust 2006-HLTV A3	5.590	10/25/29	Baa2		2,783
	2,282,000		GMAC Mortgage Corporation Loan Trust 2006-HLTV A4	5.810	10/25/29	Baa3		1,364
	1,849,461		HFC Home Equity Loan Asset Backed Certificates	5.910	3/20/36	Aaa		1,867
	4,000,000		HFC Home Equity Loan Asset Backed Certificates	5.730	3/20/36	Aaa		3,766
	175,017		HFC Home Equity Loan Asset Backed Certificates	5.790	3/20/36	Aaa		174
	19,000,000		Household Automotive Trust	5.340	9/17/13	Aaa		19,904
	1,987,257	g	Marriott Vacation Club Owner Trust	5.520	5/20/29	Aaa		1,678
	1,760,246		MP Environmental Funding LLC	4.980	7/15/14	Aaa		1,850
	3,250,000		Renaissance Home Equity Loan Trust	5.590	11/25/36	Baa3		1,685
	2,275,706		Residential Asset Mortgage Products, Inc	4.970	9/25/33	Aaa		1,870
	200,000		Residential Funding Mortgage Securities II, Inc	6.060	2/25/36	A2		54
	2,000,000		Residential Funding Mortgage Securities II, Inc	6.010	2/25/36	Aa1		946
	7,000,000		Residential Funding Mortgage Securities II, Inc	5.450	9/25/36	Aa1		6,495
	18,000,000		Residential Funding Mortgage Securities II, Inc	5.440	9/25/36	Aa3		12,234
	5,003,000		Residential Funding Mortgage Securities II, Inc	5.520	4/25/21	Aa1		4,534
	5,700,000		Residential Funding Mortgage Securities II, Inc	5.960	2/25/36	Aa3		3,558
	3,044,222		Residential Funding Mortgage Securities II, Inc	5.750	2/25/36	Aa1		2,892
	9,000,000		Residential Funding Mortgage Securities II, Inc	5.500	8/25/25	Aa3		6,103
	1,126,228	g	Sierra Receivables Funding Co	5.840	5/20/18	Baa3		1,005
	1,993,939	g,i	Wachovia Loan Trust	0.610	5/25/35	Aaa		1,245
			TOTAL ASSET BACKED					88,658

367

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	RATING†	VALUE (000)
OTHER MORTGAGE BACKED - 1.37%
	$     1,920,000	i	Banc of America Commercial Mortgage, Inc	5.240%	11/10/42	Aaa	$	1,943
	1,875,000		Banc of America Commercial Mortgage, Inc	5.360	10/10/45	Aaa		1,596
	1,546,987		Bank of America Alternative Loan Trust	5.500	9/25/19	Aaa		1,559
	505,000		Bear Stearns Commercial Mortgage Securities	5.200	12/11/38	Aaa		468
			Bear Stearns Commercial Mortgage Securities Series
	1,100,000	i	2006-PW11 (Class A4)	5.620	3/11/39	Aaa		1,062
	2,300,000		Citigroup/Deutsche Bank Commercial Mortgage Trust	5.620	10/15/48	Aaa		2,123
	5,380,000	i	Commercial Mortgage Pass Through Certificates	6.010	12/10/49	Aaa		4,848
	4,015,820		Countrywide Alternative Loan Trust	5.500	8/25/16	Baa1		3,372
	5,273,888		Countrywide Home Loan Mortgage Pass Through Trust	4.750	9/25/18	NR		5,076
	2,334,113		Countrywide Home Loan Mortgage Pass Through Trust	5.250	9/25/35	NR		2,219
	1,200,000	i	Credit Suisse Mortgage Capital Certificates	5.700	9/15/40	NR		946
	5,341,694	g,i	Credit Suisse Mortgage Capital Certificates	0.420	4/15/22	Aaa		3,959
	2,600,000		Credit Suisse Mortgage Capital Certificates	5.380	2/15/40	Aaa		2,036
	1,800,000	i	Credit Suisse Mortgage Capital Certificates	5.540	1/15/49	Aaa		1,412
	2,341,584	g,i	Credit Suisse/Morgan Stanley Commercial Mortgage Certificate	0.430	5/15/23	Aaa		1,983
	1,345,000		CS First Boston Mortgage Securities Corp	3.940	5/15/38	Aaa		1,324
	3,367,000	i	CS First Boston Mortgage Securities Corp	5.100	8/15/38	Aaa		3,277
	2,916,216	i	GMAC Mortgage Corp Loan Trust	4.600	10/19/33	Aaa		2,838
	4,975,000	i	Greenwich Capital Commercial Funding Corp	6.120	7/10/38	Aaa		4,552
	5,895,000		Greenwich Capital Commercial Funding Corp	5.440	3/10/39	Aaa		5,224
	5,000,000		Greenwich Capital Commercial Funding Corp	5.600	12/10/49	Aaa		4,952
	3,250,000		Greenwich Capital Commercial Funding Corp	5.740	12/10/49	Aaa		2,926
	1,875,000	i	GS Mortgage Securities Corp II	5.550	4/10/38	NR		1,693
	1,925,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	6.800	2/12/51	Aa3		972
	9,000,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	5.260	7/12/37	Aaa		9,331
	1,240,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	6.050	4/15/45	Aaa		1,258
	1,155,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.440	6/12/47	Aaa		992
	3,525,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	0.420	2/15/20	Aaa		2,541
	2,615,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	5.940	2/12/49	Aaa		1,862
	1,015,000		LB-UBS Commercial Mortgage Trust	4.390	3/15/32	Aaa		1,014
	2,330,000		LB-UBS Commercial Mortgage Trust	4.740	2/15/30	Aaa		2,276
	5,800,000	i	Merrill Lynch Mortgage Trust	5.410	11/12/37	Aaa		5,753
	1,485,000	g,i	Merrill Lynch Mortgage Trust	6.460	2/12/51	A3		435
	1,300,000	i	Merrill Lynch Mortgage Trust	5.840	5/12/39	Aaa		1,220
	1,645,209	i	Merrill Lynch Mortgage Trust	5.110	7/12/38	Aaa		1,356
	2,515,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	6.160	8/12/49	Aaa		1,758
	2,510,000	i	Morgan Stanley Capital I	5.690	4/15/49	Aaa		2,053
	425,000		Morgan Stanley Capital I	5.330	11/12/41	Aaa		386
	2,650,000		Morgan Stanley Capital I	5.170	1/14/42	Aaa		2,660
	1,405,000	i	Morgan Stanley Capital I	5.270	6/13/41	Aaa		1,387
	1,211,000	i	Morgan Stanley Capital I	5.730	7/12/44	Aaa		1,157
	1,398,824	g	Wachovia Amortization Controlled Heloc NIM	5.680	8/12/47	A3		1,065
	1,250,000		Wachovia Bank Commercial Mortgage Trust	5.420	4/15/47	Aaa		1,225
	4,700,000		Wachovia Bank Commercial Mortgage Trust	5.380	12/15/43	Aaa		3,185
	3,710,000	g,i	Wachovia Bank Commercial Mortgage Trust	0.360	9/15/21	A1		2,146
	3,800,222	i	Wells Fargo Mortgage Backed Securities Trust	5.030	3/25/36	NR		3,261
	3,213,066	i	Wells Fargo Mortgage Backed Securities Trust	5.860	4/25/36	NR		2,491
			TOTAL OTHER MORTGAGE BACKED					113,172
			TOTAL STRUCTURED ASSETS					201,830
			(Cost $230,224)
			TOTAL BONDS					3,176,503
			(Cost $3,109,971)

368

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
PREFERRED STOCKS - 0.02%
MORTGAGE BACKED - 0.02%
	233,115	*	Federal Home Loan Mortgage Corp (FHLMC)	$	422
	740,991	*	Federal National Mortgage Association (FNMA)		1,193
			TOTAL MORTGAGE BACKED		1,615
			TOTAL PREFERRED STOCKS		1,615
			(Cost $24,353)
COMMON STOCKS - 60.41%
AMUSEMENT AND RECREATION SERVICES - 0.42%
	7,420	*	Electronic Arts, Inc		141
	1,255,438		Walt Disney Co		34,475
			TOTAL AMUSEMENT AND RECREATION SERVICES		34,616
APPAREL AND ACCESSORY STORES - 0.47%
	61,300		American Eagle Outfitters, Inc		1,034
	12,300	*	AnnTaylor Stores Corp		195
	1,200	e	Buckle, Inc		41
	16,100		Burberry Group plc		130
	2,700	*	Cache, Inc		13
	3,931	*	Casual Male Retail Group, Inc		14
	10,800		Cato Corp (Class A)		219
	26,700	*	Chico’s FAS, Inc		347
	3,400		Christopher & Banks Corp		23
	3,973	*,e	Dress Barn, Inc		71
	12,500		Fast Retailing Co Ltd		1,582
	2,586		Finish Line, Inc (Class A)		26
	39,492		Foot Locker, Inc		472
	454,846		Gap, Inc		9,734
	78,820		Hennes & Mauritz AB (B Shares)		4,426
	56,720		Inditex S.A.		3,254
	166,037	*	Kohl’s Corp		9,472
	243,990		Limited Brands, Inc		4,145
	103,136	e	Nordstrom, Inc		3,150
	1,800	*	Shoe Carnival, Inc		28
	14,007		Stage Stores, Inc		182
			TOTAL APPAREL AND ACCESSORY STORES		38,558

369

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
APPAREL AND OTHER TEXTILE PRODUCTS - 0.37%
	1,000	e	Columbia Sportswear Co	$	41
	1,550	*	Gymboree Corp		75
	45,954		Liz Claiborne, Inc		227
	388,984		Nike, Inc (Class B)		25,167
	30,600		Phillips-Van Heusen Corp		1,309
	11,858		Polo Ralph Lauren Corp (Class A)		909
	35,538		VF Corp		2,574
			TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		30,302
AUTO REPAIR, SERVICES AND PARKING - 0.02%
	21,410	*,e	Dollar Thrifty Automotive Group, Inc		526
	57,395	*,e	Hertz Global Holdings, Inc		622
	5,955		Ryder System, Inc		233
	20,400	*	Wright Express Corp		602
			TOTAL AUTO REPAIR, SERVICES AND PARKING		1,983
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.09%
	2,050		Advance Auto Parts		81
	27,204	*	Autozone, Inc		3,977
	39,036	*	Carmax, Inc		816
	11,532	*	Copart, Inc		383
	3,999,860		Inchcape plc		1,799
	800	*	O’Reilly Automotive, Inc		29
	3,300	*	Rush Enterprises, Inc (Class A)		43
			TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		7,128
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.58%
	8,900	*,e	Builders FirstSource, Inc		39
	16,210	e	Fastenal Co		627
	1,141,348		Home Depot, Inc		30,405
	263,200		Kingfisher plc		896
	756,601		Lowe’s Cos, Inc		15,843
			TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		47,810
BUSINESS SERVICES - 3.68%
	198,900	*	3Com Corp		1,040
	39,141	*	3D Systems Corp		361
	600	*	Acacia Research (Acacia Technologies)		5
	41,858		Adecco S.A.		2,226
	4,500		Administaff, Inc		118
	271,394	*	Adobe Systems, Inc		8,967
	700	*	Affiliated Computer Services, Inc (Class A)		38

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	16,000		Aircastle Ltd	$	155
	58,381	*	Akamai Technologies, Inc		1,149
	36,641	*,e	Alliance Data Systems Corp		2,238
	1,100	*	Ansys, Inc		41
	225,855	*	Art Technology Group, Inc		872
	97,818	*	Autodesk, Inc		2,328
	603,003	e	Automatic Data Processing, Inc		23,697
	2,200	*	Avocent Corp		45
	9,500	*	Blackboard, Inc		359
	22,202	*	Blue Coat Systems, Inc		502
	83,200	*,e	BPZ Energy, Inc		626
	1,300		Brady Corp (Class A)		37
	2,370		Brink’s Co		64
	29,200	*,e	Ciber, Inc		117
	70,418	*,e	Cogent, Inc		711
	4,800	e	Cognex Corp		79
	89,838	*	Compuware Corp		659
	60,267	*	COMSYS IT Partners, Inc		386
	800	*	CoStar Group, Inc		33
	12,200	*	CSG Systems International, Inc		195
	82,383		Dassault Systemes S.A.		4,592
	12,600		Deluxe Corp		215
	43,241	*	DivX, Inc		236
	66,656	*	DST Systems, Inc		2,986
	97,800	e	Earthlink, Inc		822
	582,336	*	eBay, Inc		13,749
	9,220	*,e	Ebix, Inc		510
	2,100	*	EPIQ Systems, Inc		30
	118,983	*	Expedia, Inc		2,850
	238,317		Experian Group Ltd		2,005
	24,000	e	Fair Isaac Corp		516
	54,216	*,e	FalconStor Software, Inc		269
	1,600		Fidelity National Information Services, Inc		41
	700	*	Fiserv, Inc		34
	592,000		Fujitsu Ltd		3,871
	43	*,e	Gartner, Inc		1
	116,206	*	Google, Inc (Class A)		57,620
	62,958		Hays plc		105
	2,000		Heidrick & Struggles International, Inc		47
	2,800	*	Hudson Highland Group, Inc		9
	2,600		iGate Corp		22
	700	*	IHS, Inc (Class A)		36
	127,401		IMS Health, Inc		1,956
	65,577	*	Informatica Corp		1,481
	208,450	e	Innovative Solutions & Support, Inc		1,044
	12,000		Interactive Data Corp		315

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	42,117	*,e	Internap Network Services Corp	$	135
	3,500	*	inVentiv Health, Inc		59
	55,934		Ipass, Inc		77
	55,772	*,e	Iron Mountain, Inc		1,487
	50,890		Jack Henry & Associates, Inc		1,194
	42,100		JSR Corp		863
	3,011	*	Kforce, Inc		36
	3,300	*	Korn/Ferry International		48
	39,506	*,e	Lamar Advertising Co (Class A)		1,084
	91,500	*	Lawson Software, Inc		571
	69,660	*	Lionbridge Technologies		181
	24,926	*	Liquidity Services, Inc		257
	20,316		Manpower, Inc		1,152
	40,415		Marchex, Inc (Class B)		198
	49,167	*,e	Mentor Graphics Corp		458
	3,432,805		Microsoft Corp		88,874
	600	*	MicroStrategy, Inc (Class A)		43
	40,747	*	ModusLink Global Solutions, Inc		330
	446,916	*	MoneyGram International, Inc		1,403
	70,842	*,e	Monster Worldwide, Inc		1,238
	5,200	*	MPS Group, Inc		55
	81,219	*,e	Network Equipment Technologies, Inc		587
	165,999		NIC, Inc		1,476
	286,573	*	Novell, Inc		1,292
	316,014		Omnicom Group, Inc		11,674
	3,500	*	Omniture, Inc		75
	3,300	*	Online Resources Corp		20
	5,480		PC-Tel, Inc		34
	16,200		Pegasystems, Inc		559
	1,500	*	Progress Software Corp		34
	112,997	*,e	Radisys Corp		982
	75,439	*	RealNetworks, Inc		281
	83,058	*	Red Hat, Inc		2,296
	93,456	e	Robert Half International, Inc		2,338
	54,977	*	S1 Corp		340
	36,365	*,e	Salesforce.com, Inc		2,070
	92,740	*	Sapient Corp		746
	53,100		Secom Co Ltd		2,674
	51,141	*	Smith Micro Software, Inc		632
	28,120	*	SonicWALL, Inc		236
	438,601	*	Sun Microsystems, Inc		3,987
	12,000	*	Sybase, Inc		467
	484,820	*	Symantec Corp		7,985
	1,700	*	Synopsys, Inc		38
	1,700		Syntel, Inc		81
	133,500	*	TIBCO Software, Inc		1,267

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	61,369	*	TNS, Inc	$	1,682
	180,782		Total System Services, Inc		2,912
	29,020	*	TradeStation Group, Inc		237
	15,133	*,e	Ultimate Software Group, Inc		435
	31,867		United Online, Inc		256
	32,414	*	Vasco Data Security International		241
	2,100		Viad Corp		42
	1,500	*,e	Vocus, Inc		31
	2,100	*,e	Volt Information Sciences, Inc		26
	683,960		WPP plc		5,870
	495,540	*	Yahoo!, Inc		8,826
			TOTAL BUSINESS SERVICES		304,882
CHEMICALS AND ALLIED PRODUCTS - 7.61%
	278,110		Abbott Laboratories		13,758
	1,400	*	Acadia Pharmaceuticals, Inc		2
	20,600		Agrium, Inc		1,030
	82,152		Air Liquide		9,347
	280,951		Air Products & Chemicals, Inc		21,796
	5,870		Alberto-Culver Co		162
	17,280	*	Alexion Pharmaceuticals, Inc		770
	91,661	*,e	Alexza Pharmaceuticals, Inc		206
	13,974	*	Alkermes, Inc		128
	1,400	*,e	Alnylam Pharmaceuticals, Inc		32
	500	*	AMAG Pharmaceuticals, Inc		22
	669,930	*	Amgen, Inc		40,350
	1,400		Arch Chemicals, Inc		42
	1,052	*,e	Arena Pharmaceuticals, Inc		5
	4,001	*,e	Array Biopharma, Inc		10
	57,000		Asahi Kasei Corp		290
	167,180		Astellas Pharma, Inc		6,872
	273,336		AstraZeneca plc		12,249
	13,508	*	Auxilium Pharmaceuticals, Inc		462
	148,573		Avery Dennison Corp		5,350
	178,196		Avon Products, Inc		6,052
	1,200		Balchem Corp		32
	9,680		Beiersdorf AG.		568
	41,592	*,e	Biodel, Inc		223
	215,885	*	Biogen Idec, Inc		10,907
	40,027	*	BioMarin Pharmaceuticals, Inc		724
	55,710	*,e	BioMimetic Therapeutics, Inc		680
	1,432,339		Bristol-Myers Squibb Co		32,256
	21,700	*,e	Calgon Carbon Corp		322
	25,710	*	Cambrex Corp		162
	12,960	*	Caraco Pharmaceutical Laboratories Ltd		66
	19,166	*	Cell Genesys, Inc		7

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	148,800		Chugai Pharmaceutical Co Ltd	$	3,078
	7,045		Church & Dwight Co, Inc		400
	33,171		Clorox Co		1,951
	386,074		Colgate-Palmolive Co		29,450
	17,881	*	Cypress Bioscience, Inc		146
	221,300		Daiichi Sankyo Co Ltd		4,568
	71,974	*	Dendreon Corp		2,015
	181,610	*,e	Discovery Laboratories, Inc		247
	251,617	*,e	Durect Corp		672
	37,350	*,e	Dynavax Technologies Corp		68
	900		Eastman Chemical Co		48
	277,152		Ecolab, Inc		12,813
	105,100		Eisai Co Ltd		3,957
	4,012	e	Estee Lauder Cos (Class A)		149
	175,765	*	Genzyme Corp		9,971
	22,156	*,e	Geron Corp		145
	633,432	*	Gilead Sciences, Inc		29,505
	452		Givaudan S.A.		339
	75,227		H.B. Fuller Co		1,572
	156,880		Henkel KGaA (Preference)		6,754
	60,776	*,e	Human Genome Sciences, Inc		1,144
	36,523	*,e	Idexx Laboratories, Inc		1,826
	22,086		Innophos Holdings, Inc		409
	1,000		International Flavors & Fragrances, Inc		38
	36,503	*,e	Inverness Medical Innovations, Inc		1,414
	23,778	*	Invitrogen Corp		1,107
	239,705	*,e	Javelin Pharmaceuticals, Inc		467
	1,236,229		Johnson & Johnson		75,275
	181,200		Kao Corp		4,481
	13,000		Kuraray Co Ltd		142
	38,274		Linde AG.		4,149
	63,795		L’Oreal S.A.		6,343
	48,213		Lubrizol Corp		3,445
	5,120	*,e	MAP Pharmaceuticals, Inc		54
	1,500		Martek Biosciences Corp		34
	1,302,270		Merck & Co, Inc		41,192
	21,256		Minerals Technologies, Inc		1,011
	234,000		Mitsubishi Chemical Holdings Corp		972
	3,230	*,e	Molecular Insight Pharmaceuticals, Inc		18
	47,300		Nalco Holding Co		969
	71,281	*	Neurocrine Biosciences, Inc		217
	350,003		Novartis AG.		17,512
	122,745		Novo Nordisk AS (Class B)		7,685
	6,330		Novozymes AS (B Shares)		596
	42,720	*	Omnova Solutions, Inc		277
	1,100	*	Onyx Pharmaceuticals, Inc		33

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,500	*,e	OraSure Technologies, Inc	$	4
	28,980	*,e	Orexigen Therapeutics, Inc		285
	1,200	*	OSI Pharmaceuticals, Inc		42
	14,261		PDL BioPharma, Inc		112
	66,449		Perrigo Co		2,259
	2,400	e	PetMed Express, Inc		45
	21,168	*,e	Pharmasset, Inc		447
	21,744	*,e	PharMerica Corp		404
	11,630	*	Poniard Pharmaceuticals, Inc		87
	15,800		Potash Corp of Saskatchewan		1,433
	73,809	*	Pozen, Inc		543
	328,774		Praxair, Inc		26,858
	1,275,939		Procter & Gamble Co		73,903
	27,366	*,e	Progenics Pharmaceuticals, Inc		143
	152,666		Reckitt Benckiser Group plc		7,461
	111,435		Roche Holding AG.		18,012
	49,114		RPM International, Inc		908
	58,884	*	Salix Pharmaceuticals Ltd		1,252
	9,610	*	Santarus, Inc		32
	753,707		Schering-Plough Corp		21,292
	34,028		Sensient Technologies Corp		945
	92,200		Shin-Etsu Chemical Co Ltd		5,670
	150,000		Shionogi & Co Ltd		3,551
	190,000		Shiseido Co Ltd		3,313
	24,140	*,e	SIGA Technologies, Inc		190
	166,718		Sigma-Aldrich Corp		8,999
	10,200		Solvay S.A.		1,059
	295,000		Sumitomo Chemical Co Ltd		1,229
	58,476	*	SuperGen, Inc		156
	11,290	*	Synta Pharmaceuticals Corp		35
	268,000		Toray Industries, Inc		1,624
	213,000		UBE Industries Ltd		560
	800	*	United Therapeutics Corp		39
	18,375	*	USANA Health Sciences, Inc		627
	41,400		Valspar Corp		1,139
	21,431	*,e	Vertex Pharmaceuticals, Inc		812
	193,980	*,e	XOMA Ltd		157
	20,900		Yara International ASA		658
			TOTAL CHEMICALS AND ALLIED PRODUCTS		629,825
COMMUNICATIONS - 2.85%
	1,400		Adtran, Inc		34
	148,096	e	Alaska Communications Systems Group, Inc		1,370
	2,460	*	Anixter International, Inc		99
	106,900		BCE, Inc		2,635
	54,682		Belgacom S.A.		2,130

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	87,173	*,e	Centennial Communications Corp	$	696
	207,736		CenturyTel, Inc		6,980
	563,851	*,e	DIRECTV Group, Inc		15,551
	33,529	e	Entercom Communications Corp (Class A)		171
	345,020	*	Entravision Communications Corp (Class A)		597
	7,087	*,e	Equinix, Inc		652
	768,415	*,e	FiberTower Corp		830
	22,077	e	Fisher Communications, Inc		401
	888,510	e	Frontier Communications Corp		6,699
	900		Global Payments, Inc		42
	381,268		Gray Television, Inc		885
	373,196	*	ICO Global Communications Holdings Ltd (Class A)		321
	2,600	e	Iowa Telecommunications Services, Inc		33
	21,459	*	iPCS, Inc		373
	1,334,817		ITV plc		942
	894		KDDI Corp		5,039
	100,214	*	Leap Wireless International, Inc		1,959
	236,925	*,e	Liberty Global, Inc (Class A)		5,347
	261,463	*	Liberty Media Corp - Capital (Series A)		5,470
	526,276	*	Liberty Media Corp - Entertainment (Series A)		16,372
	403,506	*	Liberty Media Holding Corp (Interactive A)		4,426
	250,634	*	Lin TV Corp (Class A)		1,185
	3,400	*,e	Lodgenet Entertainment Corp		26
	81,220	*	Mediacom Communications Corp (Class A)		468
	131,422	*	MetroPCS Communications, Inc		1,230
	14,350	*	NeuStar, Inc (Class A)		324
	91,232	*	NII Holdings, Inc (Class B)		2,735
	8,800		NTELOS Holdings Corp		155
	4,326		NTT DoCoMo, Inc		6,911
	219,990		Portugal Telecom SGPS S.A.		2,329
	1,343,670	e	Qwest Communications International, Inc		5,119
	54,500		Rogers Communications, Inc (Class B)		1,539
	116,604		Scripps Networks Interactive (Class A)		4,309
	39,600		Shaw Communications, Inc (B Shares)		717
	2,121,896	*	Sprint Nextel Corp		8,381
	82,185	*,e	SureWest Communications		1,021
	22,821		Swisscom AG.		8,165
	17,333	*,e	Switch & Data Facilities Co, Inc		236
	49,774	*	Syniverse Holdings, Inc		871
	1,108,008		Telecom Corp of New Zealand Ltd		2,129
	2,403,268		Telecom Italia RSP		2,954
	2,598,797		Telecom Italia S.p.A.		4,560
	18,000		Telekom Austria AG.		325
	141,263		TeliaSonera AB		928
	11,900		TELUS Corp, non-voting shares		370
	49,300	*,e	Terremark Worldwide, Inc		307

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	329,919		Time Warner Cable, Inc	$	14,216
	78,654	*,e	TiVo, Inc		815
	1,467,474		Verizon Communications, Inc		44,421
	565,681	*	Viacom, Inc (Class B)		15,862
	7,813,140		Vodafone Group plc		17,506
	584,368		Windstream Corp		5,920
			TOTAL COMMUNICATIONS		236,088
DEPOSITORY INSTITUTIONS - 4.62%
	7,264	e	Associated Banc-Corp		83
	410,816	*	Australia & New Zealand Banking Group Ltd		8,839
	720,577		Banco Bilbao Vizcaya Argentaria S.A.		12,791
	209,409		Banco Comercial Portugues S.A.		310
	349,583		Banco Espirito Santo S.A.		2,481
	527,687		Banco Santander Central Hispano S.A.		8,494
	9,736		Bank of Hawaii Corp		404
	70,500		Bank of Montreal		3,567
	749,333		Bank of New York Mellon Corp		21,724
	194,500		Bank of NOVA Scotia		8,878
	37,395	e	BankAtlantic Bancorp Inc (Class A)		108
	16,660	e	Banner Corp		45
	453,344	e	BB&T Corp		12,349
	700	e	BOK Financial Corp		32
	40,100		Canadian Imperial Bank of Commerce/Canada		2,445
	36,920	e	Central Pacific Financial Corp		93
	29,001	e	City National Corp		1,129
	110,404		Comerica, Inc		3,276
	1,000		Commerce Bancshares, Inc		37
	286,258		Commonwealth Bank of Australia		13,069
	2,000		Community Bank System, Inc		37
	700		Cullen/Frost Bankers, Inc		36
	143,286		Dexia		1,321
	39,100		DNB NOR Holding ASA		453
	300	*	Euronet Worldwide, Inc		7
	627,030		Fifth Third Bancorp		6,352
	137,972	*,e,h	First Horizon National Corp		1,825
	6,872		First Midwest Bancorp, Inc		77
	2,900		First Niagara Financial Group, Inc		36
	379,557	*,e	Flagstar Bancorp, Inc		391
	22,979	e	Fulton Financial Corp		169
	1,000	e	Hancock Holding Co		38
	171,600		Hang Seng Bank Ltd		2,473
	2,236,618		HSBC Holdings plc		25,594
	165,755		Hudson City Bancorp, Inc		2,180
	355,639	*	ING Groep NV		6,349
	1,147		International Bancshares Corp		19

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	237,000		Joyo Bank Ltd	$	1,164
	331,763		Keycorp		2,156
	2,948,021		Lloyds TSB Group plc		4,886
	101,285	e	M&T Bank Corp		6,312
	165,693		Marshall & Ilsley Corp		1,337
	39,426	*	Metavante Technologies, Inc		1,359
	1,843,100		Mizuho Financial Group, Inc		3,655
	305,319		National Australia Bank Ltd		8,285
	1,500		NBT Bancorp, Inc		34
	87,300	e	New York Community Bancorp, Inc		997
	20,699	e	NewAlliance Bancshares, Inc		221
	143,070		Northern Trust Corp		8,321
	19,938	e	Old National Bancorp		223
	600	e	Park National Corp		35
	20,520		People’s United Financial, Inc		319
	2,500	*	Pinnacle Financial Partners, Inc		32
	314,235		PNC Financial Services Group, Inc		15,269
	80,514		Popular, Inc		228
	1,100		Prosperity Bancshares, Inc		38
	46,919	e	Provident Financial Services, Inc		483
	542,276		Regions Financial Corp		3,368
	160,700		Resona Holdings, Inc		2,068
	244,110		Royal Bank of Canada (Toronto)		13,121
	2,952,713		Royal Bank of Scotland Group plc		2,499
	1,000	e	S&T Bancorp, Inc		13
	622,000	*	Shinsei Bank Ltd		956
	410,200		Shizuoka Bank Ltd		4,332
	1,200	*	Signature Bank		35
	97,082	e	South Financial Group, Inc		143
	333,495		State Street Corp		17,542
	408,900		Sumitomo Trust & Banking Co Ltd		2,173
	33,289		Suncorp-Metway Ltd		261
	294,601	e	SunTrust Banks, Inc		6,643
	22,325	*,e	SVB Financial Group		966
	236,810		Svenska Handelsbanken (A Shares)		6,046
	42,104		Synovus Financial Corp		158
	2,400	e	TCF Financial Corp		31
	3,000		TFS Financial Corp		36
	122,211		Toronto-Dominion Bank		7,905
	1,700		Trustmark Corp		32
	292,370	e	UCBH Holdings, Inc		234
	2,122,460	*	UniCredito Italiano S.p.A		8,293
	1,156,241		US Bancorp		25,276
	6,478	e	Washington Federal, Inc		109
	2,724		Webster Financial Corp		34
	2,270,028		Wells Fargo & Co		63,970

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	576,376		Westpac Banking Corp	$	13,348
	1,700	e	Whitney Holding Corp		16
	6	e	Zions Bancorporation		0	^
			TOTAL DEPOSITORY INSTITUTIONS		382,473
EATING AND DRINKING PLACES - 0.68%
	35,220	*,e	AFC Enterprises		297
	7,343		Bob Evans Farms, Inc		213
	435,783		Compass Group plc		2,663
	97,141	e	Darden Restaurants, Inc		3,315
	1,346	e	DineEquity, Inc		33
	3,400	*,e	Domino’s Pizza, Inc		30
	641,970		McDonald’s Corp		36,638
	12,376	e	O’Charleys, Inc		116
	1,300	*	Papa John’s International, Inc		32
	24,228	*,e	Sonic Corp		268
	505,351	*	Starbucks Corp		10,435
	5,700	*,e	Steak N Shake Co		67
	61,210		Yum! Brands, Inc		2,066
			TOTAL EATING AND DRINKING PLACES		56,173
EDUCATIONAL SERVICES - 0.02%
	800	*	American Public Education, Inc		28
	30,700		Benesse Corp		1,505
	900		DeVry, Inc		50
	2,527	*	ITT Educational Services, Inc		279
	2,200	*	Universal Technical Institute, Inc		43
			TOTAL EDUCATIONAL SERVICES		1,905
ELECTRIC, GAS, AND SANITARY SERVICES - 3.83%
	545,851	*	AES Corp		8,090
	158,196		AGL Resources, Inc		5,580
	136,329		Alliant Energy Corp		3,797
	1,000		American States Water Co		36
	123,564	e	Aqua America, Inc		2,180
	148,489		Atmos Energy Corp		4,184
	307,262		Avista Corp		6,213
	2,700		California Water Service Group		105
	130,506	*	Calpine Corp		1,503
	174,347		Centerpoint Energy, Inc		2,167
	22,932		Central Vermont Public Service Corp		443
	1,457,225		Centrica plc		5,859
	22,260	e	CH Energy Group, Inc		986
	236,229	*,e	Clean Energy Fuels Corp		3,404
	349,909	e	Cleco Corp		8,776
	577,500		CLP Holdings Ltd		3,920

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	378,675	e	Consolidated Edison, Inc	$	15,503
	81,563		Contact Energy Ltd		339
	184,621	e	Crosstex Energy, Inc		975
	167,364		Edison International		5,620
	635,268		El Paso Corp		6,556
	63,537		Enbridge, Inc		2,467
	1,447,708		Enel S.p.A.		9,189
	46,094		Energen Corp		1,987
	328,295		FPL Group, Inc		18,133
	156,216		Gas Natural SDG S.A.		3,452
	349,024	e	Hawaiian Electric Industries, Inc		6,324
	897,500		Hong Kong & China Gas Ltd		2,267
	122,000		Hong Kong Electric Holdings Ltd		669
	924,776		Iberdrola S.A.		9,074
	300,477		Idacorp, Inc		8,651
	749,969		International Power plc		3,464
	7,100		ITC Holdings Corp		323
	29,634		Laclede Group, Inc		953
	1,800		MDU Resources Group, Inc		38
	67,199	e	MGE Energy, Inc		2,451
	257,847		National Fuel Gas Co		11,812
	690,073		National Grid plc		6,661
	24,800	e	New Jersey Resources Corp		900
	92,283		Nicor, Inc		3,377
	616,476		NiSource, Inc		8,563
	155,448		Northeast Utilities		3,690
	24,397		Northwest Natural Gas Co		1,016
	164,752	*	NRG Energy, Inc		4,644
	134,289	e	NSTAR		4,273
	404,354		NV Energy, Inc		4,686
	52,813		Oest Elektrizitatswirts AG. (Class A)		2,670
	505,332		OGE Energy Corp		16,716
	760,000		Osaka Gas Co Ltd		2,667
	678,075		Pepco Holdings, Inc		10,090
	109,950		PG&E Corp		4,452
	152,394		Piedmont Natural Gas Co, Inc		3,648
	1,700		Portland General Electric Co		34
	280,606		PPL Corp		8,514
	186,965		Public Power Corp		4,161
	251,980		Public Service Enterprise Group, Inc		7,922
	267,357		Questar Corp		10,042
	147,035	e	Resource America, Inc (Class A)		707
	345,465		Scottish & Southern Energy plc		6,476
	153,980		Sempra Energy		7,670
	30,331	e	SJW Corp		693
	101,100		Snam Rete Gas S.p.A.		492

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	71,498	e	South Jersey Industries, Inc	$	2,524
	22,319		Southwest Gas Corp		571
	3,300		Southwest Water Co		16
	600	*	Stericycle, Inc		29
	68,500		Terna Rete Elettrica Nazionale S.p.A.		267
	159,300		Tohoku Electric Power Co, Inc		3,549
	706,790		Tokyo Gas Co Ltd		2,937
	61,864		UGI Corp		1,550
	25,942	e	UIL Holdings Corp		685
	78,456	e	WGL Holdings, Inc		2,600
	571,140		Williams Cos, Inc		10,206
	800		Wisconsin Energy Corp		36
	1,800		Xcel Energy, Inc		35
			TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		317,259
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 3.15%
	1,200	e	Acuity Brands, Inc		39
	223,172	*	Adaptec, Inc		745
	38,375	*	Advanced Energy Industries, Inc		546
	257,011	*	Advanced Micro Devices, Inc		1,455
	2,655	*,e	American Superconductor Corp		89
	233,272		Ametek, Inc		8,144
	22,178	*,e	Anadigics, Inc		104
	12,820	*,e	Ascent Solar Technologies, Inc		97
	41,500	*	Avnet, Inc		1,078
	15,174	e	Baldor Electric Co		415
	18,000	*	Benchmark Electronics, Inc		324
	2,863,205	*	Cisco Systems, Inc		67,400
	65,729	*	Conexant Systems, Inc		180
	45,830	*	Cree, Inc		1,684
	7,400		CTS Corp		69
	11,000	*,e	Dolby Laboratories, Inc (Class A)		420
	3,605	*,e	DTS, Inc		99
	63,999		Eaton Corp		3,622
	118,030	*,e	EMCORE Corp		153
	25	*,e	Energy Conversion Devices, Inc		0	^
	353,008		Ericsson (LM) (B Shares)		3,545
	46	*,e	Evergreen Solar, Inc		0	^
	76,434	*	Finisar Corp		740
	42,020	*,e	First Solar, Inc		6,423
	54,069		Gamesa Corp Tecnologica S.A.		1,211
	51,754	*	GrafTech International Ltd		761
	10,200	*,e	Greatbatch, Inc		229
	14,175		Harman International Industries, Inc		480
	69,668	*	Harmonic, Inc		465
	1,200	*	Hittite Microwave Corp		44

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	54,455	*,e	Hutchinson Technology, Inc	$	387
	28,700	*	Ibiden Co Ltd		1,068
	2,863,339		Intel Corp		56,036
	20,012	*	InterDigital, Inc		463
	338,378		Koninklijke Philips Electronics NV		8,240
	25,700		Kyocera Corp		2,385
	11,300		Lincoln Electric Holdings, Inc		536
	1,068	*,e	Littelfuse, Inc		28
	63,953	*	Loral Space & Communications, Inc		1,757
	313,663	*	LSI Logic Corp		1,722
	189,800		Matsushita Electric Industrial Co Ltd		2,797
	20,000		Matsushita Electric Works Ltd		239
	14,183	*	Mattson Technology, Inc		40
	304,942	*	Micron Technology, Inc		2,501
	2,200		Molex, Inc		46
	1,442,719		Motorola, Inc		12,393
	23,600		Murata Manufacturing Co Ltd		1,120
	152,606	*	NetApp, Inc		4,072
	22,500		Nidec Corp		1,827
	31,500		Nitto Denko Corp		965
	503,415		Nokia Oyj		7,404
	206,971	*	ON Semiconductor Corp		1,708
	69,596	*	Oplink Communications, Inc		1,011
	26,310	*	Photronics, Inc		125
	40,673		Plantronics, Inc		1,090
	54,160	*	Polycom, Inc		1,449
	1,300		Power Integrations, Inc		43
	15,700	*,e	Power-One, Inc		31
	227,544	*,e	Powerwave Technologies, Inc		364
	25,546	*	Q-Cells AG.		489
	66,106	*	QLogic Corp		1,137
	74,722	*,e	Quantum Fuel Systems Technologies Worldwide, Inc		99
	51,131	*	RF Micro Devices, Inc		278
	62,000		Ricoh Co Ltd		903
	2,400		Rohm Co Ltd		168
	646,000	*	Sanyo Electric Co Ltd		1,533
	46,000		Sharp Corp		511
	109,628	*	Silicon Storage Technology, Inc		265
	1,928,483	*,e	Sirius XM Radio, Inc		1,225
	57,139	*	Skyworks Solutions, Inc		757
	99,900		Sony Corp		2,955
	4,025	*,e	Sunpower Corp (Class A)		120
	84,452	*	Sycamore Networks, Inc		255
	145,266	*	Symmetricom, Inc		752
	12,083	*,e	Synaptics, Inc		304
	20,700		TDK Corp		1,197

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	40,403	*	Tekelec	$	664
	37,309		Teleflex, Inc		1,802
	197,426	*	Tellabs, Inc		1,366
	1,075,307		Texas Instruments, Inc		25,474
	52,499	*	Thomas & Betts Corp		1,579
	126,305	*	Triquint Semiconductor, Inc		975
	11,800	*,e	TTM Technologies, Inc		135
	24,750	*,e	US Geothermal, Inc		39
	74,252	*,e	Valence Technology, Inc		134
	2,600		Vicor Corp		20
	7,026	e	Whirlpool Corp		492
	93,478		Xilinx, Inc		2,189
	18,030	*,e	Zix Corp		40
	6,400	*	Zoltek Cos, Inc		67
			TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		260,332
ENGINEERING AND MANAGEMENT SERVICES - 0.50%
	587,400		Accenture plc		21,893
	62	*	Amylin Pharmaceuticals, Inc		1
	61,621	*,e	Ariad Pharmaceuticals, Inc		137
	88,869		Capita Group plc		1,026
	2,000		CDI Corp		28
	28,175	*	Celera Corp		176
	5,300	e	Corporate Executive Board Co		132
	18,735		Diamond Management & Technology Consultants, Inc		128
	18,820	*	Dyax Corp		68
	3,100	*	Gen-Probe, Inc		128
	37,333	*	Hewitt Associates, Inc (Class A)		1,360
	98,416	*,e	Incyte Corp		664
	54,690	*	Isis Pharmaceuticals, Inc		797
	46,000		JGC Corp		941
	1,400		Landauer, Inc		77
	19,200	*	Navigant Consulting, Inc		259
	3,000	*	Omnicell, Inc		33
	229,351		Paychex, Inc		6,663
	25,743	*,e	Regeneron Pharmaceuticals, Inc		497
	769,765	*,e	Rentech, Inc		1,247
	1,900	*	Resources Connection, Inc		32
	10,072	*	Savient Pharmaceuticals, Inc		153
	1,269,500		SembCorp Industries Ltd		3,055
	38,330	*	Tetra Tech, Inc		1,017
	44,070	*	VCA Antech, Inc		1,185
	900		Watson Wyatt & Co Holdings (Class A)		39
			TOTAL ENGINEERING AND MANAGEMENT SERVICES		41,736

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
FABRICATED METAL PRODUCTS - 0.47%
	21,600		Aptargroup, Inc	$	807
	700		Ball Corp		34
	99,259		Commercial Metals Co		1,777
	41,047		Dynamic Materials Corp		819
	6,191		Geberit AG.		951
	22,906		Gulf Island Fabrication, Inc		429
	583,259		Illinois Tool Works, Inc		24,912
	2,300		Insteel Industries, Inc		27
	2,100	*	Mobile Mini, Inc		36
	241,540	*,e	NCI Building Systems, Inc		773
	32,785	e	Pentair, Inc		968
	34,002		Quanex Building Products Corp		488
	15,996		Snap-On, Inc		556
	87,526		Stanley Works		3,737
	117,300		Toyo Seikan Kaisha Ltd		2,257
	6,200		Valmont Industries, Inc		528
			TOTAL FABRICATED METAL PRODUCTS		39,099
FOOD AND KINDRED PRODUCTS - 2.09%
	33,000		Ajinomoto Co, Inc		330
	246,615		Campbell Soup Co		8,045
	189,544		Coca Cola Hellenic Bottling Co S.A.		5,045
	2,700		Coca-Cola Enterprises, Inc		58
	555,747		CSR Ltd		922
	1,400		Flowers Foods, Inc		37
	348,325		General Mills, Inc		22,425
	169,225		Groupe Danone		10,198
	240,196		H.J. Heinz Co		9,548
	11,640	*,e	Hansen Natural Corp		428
	130,454		Hershey Co		5,069
	7,850		J.M. Smucker Co		416
	379,275		Kellogg Co		18,672
	1,001,488		Kraft Foods, Inc (Class A)		26,309
	10,103		Lancaster Colony Corp		518
	1,600		Lance, Inc		41
	17,347		McCormick & Co, Inc		589
	9,000		Nisshin Seifun Group, Inc		126
	2,700		Nissin Food Products Co Ltd		104
	831,309		PepsiCo, Inc		48,764
	66	*	Ralcorp Holdings, Inc		4
	3,000		Saputo, Inc		70
	382,242		Sara Lee Corp		4,258
	10,460	e	Tootsie Roll Industries, Inc		249
	339,269		Unilever plc		9,640
	32,600		Yakult Honsha Co Ltd		870
			TOTAL FOOD AND KINDRED PRODUCTS		172,735

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
FOOD STORES - 0.41%
	179,256		Carrefour S.A.	$	8,132
	10,250		Delhaize Group		712
	3,000		George Weston Ltd		156
	2,301	*,e	Great Atlantic & Pacific Tea Co, Inc		21
	54,500		Jeronimo Martins SGPS S.A.		477
	2,488		Kesko Oyj (B Shares)		83
	140,457		Koninklijke Ahold NV		1,690
	170,230		Kroger Co		3,514
	6,100		Lawson, Inc		283
	1,400		Ruddick Corp		37
	272,433		Safeway, Inc		5,372
	1,349,776		Tesco plc		8,619
	39,081	*	Whole Foods Market, Inc		1,192
	2,600	*	Winn-Dixie Stores, Inc		34
	141,277		Woolworths Ltd		3,646
			TOTAL FOOD STORES		33,968
FORESTRY - 0.06%
	145,513		Weyerhaeuser Co		5,333
			TOTAL FORESTRY		5,333
FURNITURE AND FIXTURES - 0.11%
	8,629		Herman Miller, Inc		146
	69,737		Hill-Rom Holdings, Inc		1,519
	23,219		HNI Corp		548
	24,963	*,e	Kinetic Concepts, Inc		923
	95,084	e	Leggett & Platt, Inc		1,845
	322,259		Masco Corp		4,163
	9,700	*	Tempur-Pedic International, Inc		184
			TOTAL FURNITURE AND FIXTURES		9,328
FURNITURE AND HOME FURNISHINGS STORES - 0.13%
	134,725	*	Bed Bath & Beyond, Inc		5,058
	135,806	e	Best Buy Co, Inc		5,096
	13,200	*	GameStop Corp (Class A)		349
	2,200		Haverty Furniture Cos, Inc		26
	29,641		RadioShack Corp		491
	1,900		Williams-Sonoma, Inc		38
			TOTAL FURNITURE AND HOME FURNISHINGS STORES		11,058
GENERAL BUILDING CONTRACTORS - 0.18%
	16,350		ACS Actividades Cons y Servicios S.A.		853

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	301	*	Avatar Holdings, Inc	$	6
	22,200		Balfour Beatty plc		114
	3,524	e	Brookfield Homes Corp		24
	28,700		Daito Trust Construction Co Ltd		1,252
	48,000		Daiwa House Industry Co Ltd		503
	29,742		Lennar Corp (Class A)		424
	30,753	*	M/I Homes, Inc		418
	12,000		Obayashi Corp		53
	4		Persimmon plc		0	^
	46,515	*	Pulte Homes, Inc		511
	8,000		Sekisui House Ltd		72
	19,000		Shimizu Corp		75
	334,062	*	Standard-Pacific Corp		1,233
	165,360		Vinci S.A.		9,354
			TOTAL GENERAL BUILDING CONTRACTORS		14,892
GENERAL MERCHANDISE STORES - 0.92%
	29,700		Aeon Co Ltd		284
	1,300		Casey’s General Stores, Inc		41
	412,144	e	Costco Wholesale Corp		23,270
	1,100		Family Dollar Stores, Inc		29
	133,924		JC Penney Co, Inc		4,520
	14,000		Keio Corp		96
	420,000		Kintetsu Corp		1,624
	93,736		Macy’s, Inc		1,714
	15,400		Next plc		441
	59,900		Odakyu Electric Railway Co Ltd		541
	41,387		PPR		5,305
	10,500	*	Retail Ventures, Inc		55
	3,300	*	Stein Mart, Inc		42
	582,143		Target Corp		27,173
	276,704		TJX Companies, Inc		10,280
	18,000		Tobu Railway Co Ltd		110
	139,000		Tokyu Corp		666
			TOTAL GENERAL MERCHANDISE STORES		76,191
HEALTH SERVICES - 0.25%
	10,800	*	Amsurg Corp		229
	4,670	*	Corvel Corp		133
	30,297	*,e	Edwards Lifesciences Corp		2,118
	110,544	*	Five Star Quality Care, Inc		405
	20,090	*	Healthways, Inc		308
	98,198	*,e	Laboratory Corp of America Holdings		6,452
	60,942	*	LCA-Vision, Inc		427
	40,740	*	LifePoint Hospitals, Inc		1,102
	229,203	*,e	Nektar Therapeutics		2,232

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	46,947	*	Nighthawk Radiology Holdings, Inc	$	339
	136,912		Quest Diagnostics, Inc		7,146
			TOTAL HEALTH SERVICES		20,891
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.09%
	165,663		Abertis Infraestructuras S.A.		3,760
	44,300		Bouygues S.A.		2,253
	36,587	*	LB Foster Co (Class A)		1,119
			TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		7,132
HOLDING AND OTHER INVESTMENT OFFICES - 0.77%
	2,571		Acadia Realty Trust		39
	1,500		American Campus Communities, Inc		40
	183,888		Annaly Mortgage Management, Inc		3,336
	172,540	e	Anthracite Capital, Inc		181
	77,400		Anworth Mortgage Asset Corp		610
	301,138	e	Ashford Hospitality Trust, Inc		1,042
	1,500		BioMed Realty Trust, Inc		21
	52,792	e	Boston Properties, Inc		3,461
	600		Brandywine Realty Trust		7
	63,200		Brookfield Asset Management, Inc		1,439
	3,200	e	Capital Lease Funding, Inc		13
	1,200	e	Capital Trust, Inc (Class A)		4
	41,400		Capstead Mortgage Corp		576
	25,300	e	CBL & Associates Properties, Inc		245
	21,544	e	Cedar Shopping Centers, Inc		139
	3,360		Cherokee, Inc		81
	164,637		Duke Realty Corp		1,977
	1,000		EastGroup Properties, Inc		38
	2,600	e	Equity One, Inc		41
	262,948		Equity Residential		8,072
	8,247		FelCor Lodging Trust, Inc		37
	112,944	e	First Industrial Realty Trust, Inc		593
	2,300		First Potomac Realty Trust		27
	2,600		Franklin Street Properties Corp		34
	1,650		Gladstone Commercial Corp		23
	61,950		Glimcher Realty Trust		227
	1,200		Hatteras Financial Corp		36
	73,490		HCP, Inc		2,112
	27,913		Health Care REIT, Inc		1,162
	2,000		Healthcare Realty Trust, Inc		42
	62,020		Hersha Hospitality Trust		192
	7,346		Highwoods Properties, Inc		231
	3,500	*	Hilltop Holdings, Inc		43
	1,000		Home Properties, Inc		43
	333,737		Host Marriott Corp		3,927

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	8,588		HRPT Properties Trust	$	65
	816		Investors Real Estate Trust		7
	164,700	*,e	iStar Financial, Inc		501
	139,666		Kimco Realty Corp		1,821
	8,062		Lexington Corporate Properties Trust		41
	41,078		Liberty Property Trust		1,336
	6,565		LTC Properties, Inc		158
	4,706		Macerich Co		143
	9,000		MFA Mortgage Investments, Inc		72
	14,820		Mid-America Apartment Communities, Inc		669
	1,900		National Retail Properties, Inc		41
	245,310	e	NorthStar Realty Finance Corp		861
	1,200		Parkway Properties, Inc		24
	2,628		Post Properties, Inc		47
	141,365	e	Prologis		1,685
	700		PS Business Parks, Inc		36
	173,468		Public Storage, Inc		13,051
	108,261		RAIT Investment Trust		318
	11,900	e	Regency Centers Corp		441
	25,960		Resource Capital Corp		141
	2,766		Senior Housing Properties Trust		53
	26,606		UDR, Inc		419
	1,100		Universal Health Realty Income Trust		36
	5,660	e	Urstadt Biddle Properties, Inc (Class A)		83
	5,300		U-Store-It Trust		33
	234,142		Virgin Media, Inc		3,259
	86,477		Vornado Realty Trust		5,569
	38,416		WABCO Holdings, Inc		807
	1,500		Washington Real Estate Investment Trust		43
	86,959		Weingarten Realty Investors		1,732
			TOTAL HOLDING AND OTHER INVESTMENT OFFICES		63,583
HOTELS AND OTHER LODGING PLACES - 0.24%
	111,542		Accor S.A.		6,208
	6,530	*	Bluegreen Corp		20
	93,016		Choice Hotels International, Inc		2,889
	57,501	*,e	Gaylord Entertainment Co		1,156
	125,552	*,e	Great Wolf Resorts, Inc		448
	72,350	*	Lodgian, Inc		120
	43,668		Marcus Corp		559
	193,609	e	Marriott International, Inc (Class A)		5,342
	52,986	e	Starwood Hotels & Resorts Worldwide, Inc		1,750
	268,603		TUI Travel plc		1,093
			TOTAL HOTELS AND OTHER LODGING PLACES		19,585

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.84%
	34,211	*	AGCO Corp	$	945
	47,230		Alfa Laval AB		554
	256,504	*,e	Allis-Chalmers Energy, Inc		1,118
	4,300		Ampco-Pittsburgh Corp		114
	946,209		Applied Materials, Inc		12,679
	10,900		ASML Holding NV		321
	10,969	*	Astec Industries, Inc		279
	74,230	*	Axcelis Technologies, Inc		89
	54,926		Black & Decker Corp		2,543
	5,420	*,e	Bolt Technology Corp		68
	72,002		Brambles Ltd		513
	16,090	e	Briggs & Stratton Corp		312
	223,500		Canon, Inc		9,038
	3,900		Cascade Corp		104
	341,871	e	Caterpillar, Inc		17,549
	7,900	*	Columbus McKinnon Corp		120
	129,390	*	Cray, Inc		1,078
	162,377		Cummins, Inc		7,276
	1,100	*	Cymer, Inc		43
	363,622		Deere & Co		15,607
	1,195,611	*	Dell, Inc		18,246
	10,400	e	Donaldson Co, Inc		360
	1,000		Dover Corp		39
	1,400	*	Dresser-Rand Group, Inc		43
	11,934	*,e	Dril-Quip, Inc		592
	710,883		Emerson Electric Co		28,493
	38,963	*	ENGlobal Corp		161
	5,149	*	Entegris, Inc		25
	59,100		Fanuc Ltd		5,300
	121,430	*,e	Flotek Industries, Inc		250
	78,912	*	FMC Technologies, Inc		4,122
	64,200		FUJIFILM Holdings Corp		1,924
	900	*	Gardner Denver, Inc		31
	1,200	e	Gorman-Rupp Co		30
	61,737	e	Graco, Inc		1,721
	1,264,202		Hewlett-Packard Co		59,684
	27,600		Hitachi Construction Machinery Co Ltd		592
	1,300		IDEX Corp		36
	89,698	*,e	Immersion Corp		384
	9,686	*	Intermec, Inc		137
	613,538		International Business Machines Corp		73,386
	22,664	*	Intevac, Inc		305
	17,936		John Bean Technologies Corp		326
	543,699		Johnson Controls, Inc		13,897
	13,202		Kone Oyj (Class B)		485
	118,500		Konica Minolta Holdings, Inc		1,123

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	243,000		Kubota Corp	$	2,022
	2,300	*	Kulicke & Soffa Industries, Inc		14
	47,200		Kurita Water Industries Ltd		1,693
	54,647	*,e	Lam Research Corp		1,867
	42,635	*,e	Lexmark International, Inc (Class A)		918
	600	e	Lindsay Manufacturing Co		24
	5,454		Lufkin Industries, Inc		290
	35,858		Manitowoc Co, Inc		340
	38,400		Modine Manufacturing Co		356
	62,650	e	Nordson Corp		3,514
	14,886	*	Oil States International, Inc		523
	43,464		Pall Corp		1,403
	766,097	*	Quantum Corp		965
	2,000		Robbins & Myers, Inc		47
	15,778	*	Safeguard Scientifics, Inc		173
	175,680		Sandvik AB		1,940
	2,100	e	Sauer-Danfoss, Inc		16
	1,300	*	Scansource, Inc		37
	348,061	e	Seagate Technology, Inc		5,294
	45,177	*	Semitool, Inc		382
	16,682	*,e	Sigma Designs, Inc		242
	3,300		SMC Corp		406
	83,051		Solarworld AG.		2,017
	700		SPX Corp		43
	45,405	*,e	STEC, Inc		1,334
	14,706	*,e	Tecumseh Products Co (Class A)		167
	96,430		Tennant Co		2,802
	23,800		Tokyo Electron Ltd		1,519
	10,500	*	Ultratech, Inc		139
	62,888	*,e	Varian Medical Systems, Inc		2,649
	37,780	*	Vestas Wind Systems AS		2,731
	1,300	*	Zebra Technologies Corp (Class A)		34
			TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		317,943
INSTRUMENTS AND RELATED PRODUCTS - 2.27%
	17,804	*	Affymetrix, Inc		156
	208,643	*	Agilent Technologies, Inc		5,807
	187,585		Allergan, Inc		10,647
	600	e	American Science & Engineering, Inc		41
	3,704		Analogic Corp		137
	501,272		Baxter International, Inc		28,577
	56,948		Beckman Coulter, Inc		3,926
	258,369		Becton Dickinson & Co		18,021
	400	*	Bio-Rad Laboratories, Inc (Class A)		37
	21,900	*	Bruker BioSciences Corp		234
	3,600	*,e	CardioNet, Inc		24

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
	50,897	*,e	Cepheid, Inc	$	673
	4,300		Cochlear Ltd		253
	302,665		Danaher Corp		20,375
	98,836	e	Dentsply International, Inc		3,414
	19,200	*	Depomed, Inc		84
	500	*	Dionex Corp		32
	53,619	*	Flir Systems, Inc		1,500
	73,882	e	Garmin Ltd		2,788
	66,337		Hillenbrand, Inc		1,351
	71,636	*	Hologic, Inc		1,171
	900	*	ICU Medical, Inc		33
	9,426	*	Illumina, Inc		401
	1,200	*	Integra LifeSciences Holdings Corp		41
	16,138	*	Intuitive Surgical, Inc		4,232
	4,500		Invacare Corp		100
	309,846		Invensys plc		1,441
	49,728	*	ION Geophysical Corp		175
	100	*	Itron, Inc		6
	628	*	L-1 Identity Solutions, Inc		4
	32,218	*,e	LTX-Credence Corp		53
	806,650		Medtronic, Inc		29,684
	1,166	*	Merit Medical Systems, Inc		20
	32,312	*	Millipore Corp		2,273
	23,800		Movado Group, Inc		346
	1,400		National Instruments Corp		39
	197,000		Nikon Corp		3,604
	60,000	*	Olympus Corp		1,591
	2,970	*,e	OYO Geospace Corp		77
	1,888	*,e	Palomar Medical Technologies, Inc		31
	1,900		PerkinElmer, Inc		37
	1,770	*,e	Resmed, Inc		80
	41,002		Rockwell Automation, Inc		1,747
	2,500	*	Rofin-Sinar Technologies, Inc		57
	26,200	e	Roper Industries, Inc		1,336
	2,223	*	Rudolph Technologies, Inc		16
	214,524	*	St. Jude Medical, Inc		8,369
	40,359	e	STERIS Corp		1,229
	9,600	e	Techne Corp		600
	87,880		Terumo Corp		4,836
	188,668	*	Thermo Electron Corp		8,239
	37,275	*,e	Trimble Navigation Ltd		891
	77,319	*,e	Vivus, Inc		808
	44,461	*	Waters Corp		2,484
	2,100	*	Wright Medical Group, Inc		38
	595,082		Xerox Corp		4,606
	161,795	*	Zimmer Holdings, Inc		8,648

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
	5,140	*	Zoll Medical Corp	$	111
			TOTAL INSTRUMENTS AND RELATED PRODUCTS		187,531
INSURANCE AGENTS, BROKERS AND SERVICE - 0.28%
	230,137		AON Corp		9,364
	1,500		Arthur J. Gallagher & Co		37
	135,277	*,e	Crawford & Co (Class B)		597
	283,627		Hartford Financial Services Group, Inc		7,516
	19,410	*	National Financial Partners Corp		169
	258,748		QBE Insurance Group Ltd		5,492
			TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		23,175
INSURANCE CARRIERS - 2.70%
	98,200	*	Aegon NV		834
	340,151		Aetna, Inc		9,466
	499,950		Aflac, Inc		21,367
	748	*	Alleghany Corp		194
	89,993		Allianz AG.		11,242
	4,400		American Equity Investment Life Holding Co		31
	7,900		American Physicians Capital, Inc		228
	126,273		AMP Ltd		726
	17,433	*	Arch Capital Group Ltd		1,177
	120,579		Aspen Insurance Holdings Ltd		3,192
	92,341		Assurant, Inc		2,960
	1,084,807		Aviva plc		7,769
	1,200		Axis Capital Holdings Ltd		36
	22,716	*	Catalyst Health Solutions, Inc		662
	34,100	*	Centene Corp		646
	451,058		Chubb Corp		22,737
	344,705		Cincinnati Financial Corp		8,959
	1,400		Donegal Group, Inc (Class A)		22
	2,400		Employers Holdings, Inc		37
	44,087		Endurance Specialty Holdings Ltd		1,608
	27,664		Erie Indemnity Co (Class A)		1,036
	2,200		First Mercury Financial Corp		29
	1,251	*	Fpic Insurance Group, Inc		42
	334,695		Genworth Financial, Inc (Class A)		4,000
	22,550		Hanover Insurance Group, Inc		932
	1,200		Harleysville Group, Inc		38
	103,226	*	Humana, Inc		3,850
	90,119	*	KBC Groep NV		4,527
	283,539		Lincoln National Corp		7,346
	217,500		Manulife Financial Corp		4,571
	4,514	*,e	Markel Corp		1,489
	21,970	*,e	Molina Healthcare, Inc		455

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
	113,345		Montpelier Re Holdings Ltd	$	1,850
	59,428		Muenchener Rueckver AG.		9,482
	700	*	Navigators Group, Inc		39
	9,640	e	Odyssey Re Holdings Corp		625
	104,500	e	Phoenix Cos, Inc		340
	51,011		Platinum Underwriters Holdings Ltd		1,828
	273,449		Principal Financial Group		7,490
	700	*	ProAssurance Corp		37
	664,944		Progressive Corp		11,025
	40,050		Protective Life Corp		858
	43,200		Radian Group, Inc		457
	700		RLI Corp		37
	900		Safety Insurance Group, Inc		30
	2,400		Selective Insurance Group, Inc		38
	5,540		Stancorp Financial Group, Inc		224
	54,100		Sun Life Financial, Inc		1,695
	140,685		Swiss Reinsurance Co		6,351
	88,990		T&D Holdings, Inc		2,409
	519,047		Travelers Cos, Inc		25,552
	3,100	*	Universal American Financial Corp		29
	198,908	e	UnumProvident Corp		4,265
	106,135		W.R. Berkley Corp		2,683
	472,582	*	WellPoint, Inc		22,380
	100		Wesco Financial Corp		33
	86,841		XL Capital Ltd (Class A)		1,516
	1,500		Zenith National Insurance Corp		46
			TOTAL INSURANCE CARRIERS		223,527
LEATHER AND LEATHER PRODUCTS - 0.06%
	152,137		Coach, Inc		5,008
	400	*	Timberland Co (Class A)		6
	14,200	e	Weyco Group, Inc		325
			TOTAL LEATHER AND LEATHER PRODUCTS		5,339
LEGAL SERVICES - 0.01%
	12,798	*	FTI Consulting, Inc		545
	700	*	Pre-Paid Legal Services, Inc		36
			TOTAL LEGAL SERVICES		581
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.02%
	89,328		Brisa-Auto Estradas de Portugal S.A.		880
	493,000		ComfortDelgro Corp Ltd		563
	17,000		Keihin Electric Express Railway Co Ltd		144
			TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		1,587

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
LUMBER AND WOOD PRODUCTS - 0.00%**
	110,047	*	Champion Enterprises, Inc	$	51
	900	e	Deltic Timber Corp		41
	4,415		Skyline Corp		99
			TOTAL LUMBER AND WOOD PRODUCTS		191
METAL MINING - 0.40%
	38,858		Agnico-Eagle Mines Ltd		2,628
	580,217		Alumina Ltd		937
	13,800		Inmet Mining Corp		773
	133,600		Kinross Gold Corp		2,911
	155,840		Newcrest Mining Ltd		4,386
	11,342		Orica Ltd		235
	9,300	*	Rosetta Resources, Inc		137
	129,066		Royal Gold, Inc		5,885
	44,488	*	Stillwater Mining Co		299
	108,000		Teck Cominco Ltd		2,976
	705,694		Xstrata plc		10,404
	139,800		Yamana Gold, Inc		1,504
			TOTAL METAL MINING		33,075
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.14%
	45,634		Armstrong World Industries, Inc		1,573
	1,024		Blyth, Inc		40
	27,478		Callaway Golf Co		209
	12,100	e	Daktronics, Inc		104
	1,300		Hasbro, Inc		36
	2,600	*	Jakks Pacific, Inc		37
	457,150	e	Mattel, Inc		8,438
	123,400		Yamaha Corp		1,460
			TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		11,897
MISCELLANEOUS RETAIL - 1.16%
	178,905	*	Amazon.com, Inc		16,703
	900	e	Barnes & Noble, Inc		20
	824,083		CVS Corp		29,452
	6,823	*	Dollar Tree, Inc		332
	38,120	*,e	GSI Commerce, Inc		736
	112,788	*,e	Hibbett Sports, Inc		2,056
	61,700		Home Retail Group		268
	29,300	*	HSN, Inc		477
	58,366		Metro AG.		3,301
	900		MSC Industrial Direct Co (Class A)		39
	65,185	*	Office Depot, Inc		432
	368,600		Origin Energy Ltd		5,307
	10,103	*,e	Overstock.com, Inc		148
	30,830		Petsmart, Inc		671

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
	7,655	*,e	Priceline.com, Inc	$	1,269
	5,300		Shoppers Drug Mart Corp		218
	390,951		Staples, Inc		9,078
	38,795	e	Tiffany & Co		1,495
	646,538		Walgreen Co		24,226
			TOTAL MISCELLANEOUS RETAIL		96,228
MOTION PICTURES - 0.08%
	11,531	*,e	Avid Technology, Inc		162
	80,001	*	Discovery Communications, Inc (Class A)		2,312
	59,701	*	Discovery Communications, Inc (Class C)		1,554
	46,417	*	DreamWorks Animation SKG, Inc (Class A)		1,651
	9,091		Regal Entertainment Group (Class A)		112
	51,432	*	tw telecom inc (Class A)		692
			TOTAL MOTION PICTURES		6,483
NONDEPOSITORY INSTITUTIONS - 0.61%
	845,479		American Express Co		28,662
	105,992	*,e	AmeriCredit Corp		1,674
	317,713		Capital One Financial Corp		11,352
	115,285		CapitalSource, Inc		500
	305,815	e	CIT Group, Inc		370
	303,716		Discover Financial Services		4,929
	86,852	e	Federal Agricultural Mortgage Corp (Class C)		651
	204,108		Medallion Financial Corp		1,706
	130,606	*	NewStar Financial, Inc		430
	1,500	*	PHH Corp		30
	12,483	*,e	World Acceptance Corp		315
			TOTAL NONDEPOSITORY INSTITUTIONS		50,619
NONMETALLIC MINERALS, EXCEPT FUELS - 0.15%
	119,532	e	AMCOL International Corp		2,736
	6,700		Compass Minerals International, Inc		413
	85,630	*,e	General Moly, Inc		270
	66,983		K+S AG.		3,655
	102,081		Vulcan Materials Co		5,519
			TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		12,593
OIL AND GAS EXTRACTION - 3.65%
	19,350		Acergy S.A.		244
	320,466		Apache Corp		29,427
	3,740	*	Approach Resources, Inc		34
	45,074		Atlas America, Inc		1,220
	22,290	*,e	ATP Oil & Gas Corp		399
	4,366	*	Atwood Oceanics, Inc		154
	44,838	e	Berry Petroleum Co (Class A)		1,201

395

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
	103,950	*,e	Boots & Coots, Inc	$	167
	9,766	*,e	Bronco Drilling Co, Inc		64
	94,779		Cabot Oil & Gas Corp		3,388
	207,937	*,e	Callon Petroleum Co		381
	108,191	*	Cameron International Corp		4,092
	2,700	*,e	Carrizo Oil & Gas, Inc		66
	520,036		Chesapeake Energy Corp		14,769
	77,959	e	Cimarex Energy Co		3,377
	1,200	*	CNX Gas Corp		37
	48,215	*,e	Complete Production Services, Inc		545
	38,480	*,e	Contango Oil & Gas Co		1,965
	1,700	*,e	Continental Resources, Inc		67
	6,000	*	Dawson Geophysical Co		164
	382,802	*	Denbury Resources, Inc		5,792
	422,328		Devon Energy Corp		28,434
	151,430	e	Diamond Offshore Drilling, Inc		14,465
	149,800		EnCana Corp		8,675
	43,101	*	Encore Acquisition Co		1,612
	158,985		ENSCO International, Inc		6,763
	233,757		EOG Resources, Inc		19,521
	303,381	e	Equitable Resources, Inc		12,924
	26,900	*	EXCO Resources, Inc		503
	11	*	Exterran Holdings, Inc		0	^
	64,130	*	Gasco Energy, Inc		31
	57,034	*	Geokinetics, Inc		1,209
	22,400	*	Geomet, Inc		38
	148,004	*	Global Industries Ltd		1,406
	16,840	*,e	GMX Resources, Inc		265
	38,098	*,e	Goodrich Petroleum Corp		983
	12,100	*	Gulfport Energy Corp		106
	136,609	e	Helmerich & Payne, Inc		5,400
	9,600	*	Hercules Offshore, Inc		47
	537,719	*	Meridian Resource Corp		220
	127,188	*,e	Nabors Industries Ltd		2,658
	444,476	*	National Oilwell Varco, Inc		19,170
	97,648	*	Newfield Exploration Co		4,156
	91,677		Nexen, Inc		2,084
	245,406		Noble Energy, Inc		16,187
	23,760	*	Northern Oil And Gas, Inc		200
	6,468	*	Oceaneering International, Inc		367
	31,303	*	Parallel Petroleum Corp		99
	127,600	*,e	Parker Drilling Co		697
	220,346	*	PetroHawk Energy Corp		5,335
	32,190	*	Petroleum Development Corp		601
	67,500	*,e	Petroquest Energy, Inc		438
	75,500	*	Pioneer Drilling Co		554

396

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
	141,676		Pioneer Natural Resources Co	$	5,141
	160,990	*	Pride International, Inc		4,901
	116,576	*,e	Quicksilver Resources, Inc		1,654
	75,758		Range Resources Corp		3,739
	38,327	*,e	Rex Energy Corp		320
	9,820	e	RPC, Inc		103
	439,137		Santos Ltd		5,889
	400	*	SEACOR Holdings, Inc		33
	112,212		Smith International, Inc		3,220
	124,486	*	Southwestern Energy Co		5,313
	74,030		St. Mary Land & Exploration Co		2,403
	23,778	*	Stone Energy Corp		388
	281,994	*,e	Sulphco, Inc		386
	59,046	*	Swift Energy Co		1,398
	154,400		Talisman Energy, Inc		2,687
	800		Tidewater, Inc		38
	82,880	*	Ultra Petroleum Corp		4,058
	37,545	*	Unit Corp		1,549
	70,198	*	Venoco, Inc		808
	57,800		W&T Offshore, Inc		677
	43,705	*	Whiting Petroleum Corp		2,517
	179,777		Woodside Petroleum Ltd		8,268
	572,529		XTO Energy, Inc		23,657
			TOTAL OIL AND GAS EXTRACTION		301,848
PAPER AND ALLIED PRODUCTS - 0.51%
	78,459		Bemis Co		2,033
	52,800	*	Buckeye Technologies, Inc		567
	4,655	*,e	Domtar Corporation		164
	22,564		Glatfelter		259
	138,059		International Paper Co		3,069
	335,954		Kimberly-Clark Corp		19,814
	242,065		MeadWestvaco Corp		5,400
	12,396		Metso Oyj		349
	16,900	e	Rock-Tenn Co (Class A)		796
	106,964		Sonoco Products Co		2,946
	153,116		Stora Enso Oyj (R Shares)		1,067
	121,590		Svenska Cellulosa AB (B Shares)		1,648
	61,684	e	Temple-Inland, Inc		1,013
	17,300		Uni-Charm Corp		1,642
	133,335		UPM-Kymmene Oyj		1,600
	10,800		Wausau Paper Corp		108
			TOTAL PAPER AND ALLIED PRODUCTS		42,475
PERSONAL SERVICES - 0.01%
	1,200	*,e	Coinstar, Inc		40

397

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
	35,896		Regis Corp	$	556
	7,956		Unifirst Corp		354
	3,320		Weight Watchers International, Inc		91
			TOTAL PERSONAL SERVICES		1,041
PETROLEUM AND COAL PRODUCTS - 1.47%
	4,002	*	American Oil & Gas, Inc		8
	6,879		Ashland, Inc		297
	501,352		ENI S.p.A.		12,531
	20,700		Galp Energia SGPS S.A.		358
	6,351		Hellenic Petroleum S.A.		72
	379,547		Hess Corp		20,291
	727,200		Marathon Oil Corp		23,197
	101,331		Neste Oil Oyj		1,871
	414,500		Nippon Mining Holdings, Inc		2,041
	69,589		OMV AG.		2,808
	293,175		Repsol YPF S.A.		7,975
	588,840		Royal Dutch Shell plc (A Shares)		16,784
	501,220		Royal Dutch Shell plc (B Shares)		13,906
	5,400	*,e	SandRidge Energy, Inc		70
	338,760		Statoil ASA		7,618
	330,004		Suncor Energy, Inc		11,528
			TOTAL PETROLEUM AND COAL PRODUCTS		121,355
PIPELINES, EXCEPT NATURAL GAS - 0.33%
	1,218,867		Spectra Energy Corp		23,086
	145,100		TransCanada Corp		4,522
			TOTAL PIPELINES, EXCEPT NATURAL GAS		27,608
PRIMARY METAL INDUSTRIES - 0.87%
	612,200		Alcoa, Inc		8,032
	28,444		Allegheny Technologies, Inc		995
	223,171	*	ArcelorMittal		8,344
	231,916		BlueScope Steel Ltd		599
	794,396		Corning, Inc		12,162
	2,800	e	Encore Wire Corp		63
	48,876	e	Gibraltar Industries, Inc		649
	39,200	*	Horsehead Holding Corp		459
	45,503		Hubbell, Inc (Class B)		1,911
	108,210	*,e	Metalico, Inc		451
	57,000		Mitsubishi Materials Corp		157
	927,000		Nippon Steel Corp		3,387
	179,400		Norsk Hydro ASA		1,194
	321,267		Nucor Corp		15,104
	29,346	e	Olympic Steel, Inc		842
	187,756		Steel Dynamics, Inc		2,880

398

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
	357,000		Sumitomo Metal Industries Ltd	$	879
	217,000		Sumitomo Metal Mining Co Ltd		3,563
	69,914		Tredegar Corp		1,014
	15,649		Umicore		469
	111,605		United States Steel Corp		4,952
	2,750	*	Universal Stainless & Alloy		50
	11,392		Voestalpine AG.		407
	235,332	e	Worthington Industries, Inc		3,271
			TOTAL PRIMARY METAL INDUSTRIES		71,834
PRINTING AND PUBLISHING - 0.47%
	38,320	*,e	ACCO Brands Corp		277
	2,700		American Greetings Corp (Class A)		60
	5,289		Bowne & Co, Inc		41
	800		CSS Industries, Inc		16
	156,000		Dai Nippon Printing Co Ltd		2,148
	61,905		Dun & Bradstreet Corp		4,663
	2,100		Ennis, Inc		34
	83,421	e	EW Scripps Co (Class A)		626
	40,459	e	Harte-Hanks, Inc		560
	375,606		John Fairfax Holdings Ltd		568
	9,742		John Wiley & Sons, Inc (Class A)		339
	215,606		Journal Communications, Inc (Class A)		793
	24,900	*	Lee Enterprises, Inc		68
	1,800		McClatchy Co (Class A)		5
	35,360		Meredith Corp		1,059
	189,109	e	New York Times Co (Class A)		1,536
	66,800		Orkla ASA		630
	581,401		Pearson plc		7,163
	40,400		R.R. Donnelley & Sons Co		859
	22,388		Reed Elsevier NV		253
	660,387		Reed Elsevier plc		4,941
	90,275	e	Standard Register Co		531
	73,361		Thomson Corp		2,460
	141,000		Toppan Printing Co Ltd		1,335
	1,200	*,e	VistaPrint Ltd		61
	16,546		Washington Post Co (Class B)		7,744
			TOTAL PRINTING AND PUBLISHING		38,770
RAILROAD TRANSPORTATION - 0.62%
	87,680		Burlington Northern Santa Fe Corp		6,999
	53,300		Canadian National Railway Co		2,625
	6,200		Canadian Pacific Railway Ltd		290
	337,380		CSX Corp		14,123
	123,506		Firstgroup plc		817
	4,700	*,e	Genesee & Wyoming, Inc (Class A)		143

399

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
	483,000		Hankyu Hanshin Holdings, Inc	$	2,314
	57,244	*	Kansas City Southern Industries, Inc		1,516
	969,663		MTR Corp		3,366
	420,585		Norfolk Southern Corp		18,131
	265,553		Stagecoach Group plc		691
			TOTAL RAILROAD TRANSPORTATION		51,015
REAL ESTATE - 0.33%
	54,068	*	CB Richard Ellis Group, Inc (Class A)		635
	378,200		City Developments Ltd		2,771
	12,398	e	Forest City Enterprises, Inc (Class A)		166
	26,565	*,e	Forestar Real Estate Group, Inc		456
	1,087,950		Hang Lung Properties Ltd		4,008
	2,160	e	Jones Lang LaSalle, Inc		102
	27,737		Leighton Holdings Ltd		885
	339,200		Mitsubishi Estate Co Ltd		5,336
	305,810		Mitsui Fudosan Co Ltd		5,175
	33,399	e	Stewart Enterprises, Inc (Class A)		175
	505,000		Sun Hung Kai Properties Ltd		7,440
			TOTAL REAL ESTATE		27,149
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.10%
	2,100		A. Schulman, Inc		42
	381	*	Deckers Outdoor Corp		32
	64,635		Michelin (C.G.D.E.) (Class B)		5,071
	120,960		Mitsui Chemicals, Inc		431
	1,075,974		Pirelli & C S.p.A.		576
	52,543		Sealed Air Corp		1,031
	11,100	e	Spartech Corp		120
	1,800	*	Trex Co, Inc		33
	24,565		Tupperware Corp		981
			TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		8,317
SECURITY AND COMMODITY BROKERS - 1.58%
	94,759		Ameriprise Financial, Inc		3,443
	72,341	e	BlackRock, Inc		15,685
	76,741		Broadridge Financial Solutions, Inc		1,542
	859,082		Charles Schwab Corp		16,451
	42,802		CME Group, Inc		13,191
	240,866		Credit Suisse Group		13,365
	844,100		Daiwa Securities Group, Inc		4,354
	1,040		Diamond Hill Investment Group, Inc		60
	48,717		Duff & Phelps Corp		933
	29,700		Eaton Vance Corp		831
	47,770	e	Evercore Partners, Inc (Class A)		1,396
	43,789	e	Federated Investors, Inc (Class B)		1,155

400

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
SHARES			COMPANY	VALUE (000)
	217,824		Franklin Resources, Inc	$	21,913
	53,546	*	IntercontinentalExchange, Inc		5,204
	1,750	*,e	International Assets Holding Corp		29
	317,539		Invesco Ltd		7,227
	74,983		Legg Mason, Inc		2,327
	70,999	*	Nasdaq Stock Market, Inc		1,495
	550,500		Nomura Holdings, Inc		3,391
	189,030		NYSE Euronext		5,461
	18,240	*,e	Pzena Investment Management, Inc (Class A)		149
	89,969		SEI Investments Co		1,771
	186,903	e	T Rowe Price Group, Inc		8,541
	56,898	e	US Global Investors, Inc (Class A)		702
			TOTAL SECURITY AND COMMODITY BROKERS		130,616
SOCIAL SERVICES - 0.00%**
	44,409	*	Capital Senior Living Corp		271
			TOTAL SOCIAL SERVICES		271
SPECIAL TRADE CONTRACTORS - 0.02%
	400	e	Alico, Inc		12
	8,300	e	Chemed Corp		364
	2,050		Comfort Systems USA, Inc		24
	6,983	*	Layne Christensen Co		224
	60,482	*	Quanta Services, Inc		1,338
			TOTAL SPECIAL TRADE CONTRACTORS		1,962
STONE, CLAY, AND GLASS PRODUCTS - 0.72%
	499,571		3M Co		36,868
	5,965	e	Apogee Enterprises, Inc		90
	7,922	*	Cabot Microelectronics Corp		276
	21,025	e	CARBO Ceramics, Inc		1,084
	270,968		CRH plc		7,496
	63,051	e	Gentex Corp		892
	38,952		Holcim Ltd		2,672
	83,183		Lafarge S.A.		7,444
	83,000		NGK Insulators Ltd		1,923
	31,700	*	Owens Corning, Inc		712
			TOTAL STONE, CLAY, AND GLASS PRODUCTS		59,457
TEXTILE MILL PRODUCTS - 0.01%
	1,300		Albany International Corp (Class A)		25
	22,800		Oxford Industries, Inc		449
			TOTAL TEXTILE MILL PRODUCTS		474
TRANSPORTATION BY AIR - 0.45%
	402,645	*,e	Airtran Holdings, Inc		2,517

401

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	3,000	*	All Nippon Airways Co Ltd	$	9
	623,369		Auckland International Airport Ltd		837
	66,237		British Airways plc		233
	68,937	*,e	Continental Airlines, Inc (Class B)		1,133
	238,048	*	Delta Air Lines, Inc		2,133
	62,034	*	ExpressJet Holdings, Inc		155
	259,764		FedEx Corp		19,539
	381,273	*,e	JetBlue Airways Corp		2,280
	208,840		Singapore Airlines Ltd		2,043
	36,065		Skywest, Inc		598
	579,255		Southwest Airlines Co		5,561
			TOTAL TRANSPORTATION BY AIR		37,038
TRANSPORTATION EQUIPMENT - 1.20%
	3,800		A.O. Smith Corp		145
	24,300	*	Aisin Seiki Co Ltd		593
	84,800	e	American Axle & Manufacturing Holdings, Inc		600
	65,137		ArvinMeritor, Inc		509
	7,885	*	ATC Technology Corp		156
	127,203		Bayerische Motoren Werke AG.		6,133
	211,538	*	BE Aerospace, Inc		4,260
	333,800		Bombardier, Inc		1,550
	1,100		Clarcor, Inc		34
	130,600	*	Denso Corp		3,841
	14,800	e	Federal Signal Corp		106
	1,745,900	*	Ford Motor Co		12,587
	5,139	*	Fuel Systems Solutions, Inc		185
	240,636		Genuine Parts Co		9,159
	189,806	e	Harley-Davidson, Inc		4,366
	94,992		Harsco Corp		3,364
	305,980	*	Honda Motor Co Ltd		9,425
	39,000		NSK Ltd		242
	192,413	e	Paccar, Inc		7,256
	54,787		Peugeot S.A.		1,670
	83,765		Renault S.A.		3,906
	152,400		Scania AB (B Shares)		1,891
	756,000		SembCorp Marine Ltd		1,707
	2,100		Shimano, Inc		91
	182,710	*,e	Spirit Aerosystems Holdings, Inc (Class A)		3,300
	48,870		Superior Industries International, Inc		694
	124,484	*	Tenneco, Inc		1,623
	817,210		Tomkins PLC		2,463
	8,700	*	Toyota Industries Corp		239
	16,126		Volkswagen AG.		2,651
	64,844		Volkswagen AG. (Preference)		7,552
	134,600		Volvo AB (A Shares)		1,207

402

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	341,990		Volvo AB (B Shares)	$	3,164
	42,540		Westinghouse Air Brake Technologies Corp		1,597
	102,500		Yamaha Motor Co Ltd		1,264
			TOTAL TRANSPORTATION EQUIPMENT		99,530
TRANSPORTATION SERVICES - 0.11%
	81,069		Autostrade S.p.A.		1,966
	22,693		CH Robinson Worldwide, Inc		1,311
	99,916		Cintra Concesiones de Infraestructuras de Transporte S.A.		1,163
	134,669		Deutsche Lufthansa AG.		2,386
	22,989		Expeditors International Washington, Inc		808
	2,064	*	Hub Group, Inc (Class A)		47
	36,000	*	Interval Leisure Group, Inc		449
	85,068	*	Orbitz Worldwide, Inc		526
	52,505		Toll Holdings Ltd		395
	2,600		UTI Worldwide, Inc		38
			TOTAL TRANSPORTATION SERVICES		9,089
TRUCKING AND WAREHOUSING - 0.50%
	493,298		Deutsche Post AG.		9,240
	1,500		Forward Air Corp		35
	2,200	e	Heartland Express, Inc		32
	1,100		J.B. Hunt Transport Services, Inc		35
	900		Landstar System, Inc		34
	73,000		Nippon Express Co Ltd		297
	13,837		TNT NV		371
	521,934		United Parcel Service, Inc (Class B)		29,473
	1,600		Werner Enterprises, Inc		30
	94,000		Yamato Transport Co Ltd		1,545
			TOTAL TRUCKING AND WAREHOUSING		41,092
WATER TRANSPORTATION - 0.06%
	14,391	e	Alexander & Baldwin, Inc		462
	53,600	*	Gulfmark Offshore, Inc		1,754
	36,022	*	Hornbeck Offshore Services, Inc		993
	153,000		Kawasaki Kisen Kaisha Ltd		568
	1,100	*	Kirby Corp		41
	376,000		Nippon Yusen Kabushiki Kaisha		1,453
			TOTAL WATER TRANSPORTATION		5,271
WHOLESALE TRADE-DURABLE GOODS - 0.61%
	121,197		Agilysys, Inc		799
	109,330	e	Barnes Group, Inc		1,868
	51,856		BorgWarner, Inc		1,569
	295,728		Bunzl plc		2,999
	47,825		Castle (A.M.) & Co		475

403

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	52,882	*	Chindex International, Inc	$	665
	7,328		Compagnie de Saint-Gobain		380
	222,696	*	Fortescue Metals Group Ltd		750
	1,900	*	Ingram Micro, Inc (Class A)		32
	2,000		Knight Transportation, Inc		34
	747,810		Li & Fung Ltd		3,015
	2,500	*	LKQ Corp		46
	8,672	*,e	MWI Veterinary Supply, Inc		346
	599,000		Nissan Motor Co Ltd		4,050
	80,000		Nisshin Steel Co Ltd		143
	5,558	e	Owens & Minor, Inc		251
	76,533	*,e	Patterson Cos, Inc		2,086
	2,000	e	Pool Corp		44
	2,500	*	PSS World Medical, Inc		55
	13,424		Rautaruukki Oyj		322
	120,238	e	Reliance Steel & Aluminum Co		5,117
	105,065		Schneider Electric S.A.		10,650
	3,600	*	Tech Data Corp		150
	23,000	*,e	Tyler Technologies, Inc		393
	91,529	e	W.W. Grainger, Inc		8,180
	17,580	*	WESCO International, Inc		506
	115,996		Wesfarmers Ltd		2,711
	131,715	*	Wolseley plc		3,172
			TOTAL WHOLESALE TRADE-DURABLE GOODS		50,808
WHOLESALE TRADE-NONDURABLE GOODS - 0.46%
	6,480		Airgas, Inc		313
	63,861	*,e	Akorn, Inc		87
	13,200		Akzo Nobel NV		818
	48,872		Allscripts Healthcare Solutions, Inc		991
	2,536	*	Clearwater Paper Corp		105
	8,757	*	Dean Foods Co		156
	75,320	*	Endo Pharmaceuticals Holdings, Inc		1,704
	7,100	*	Gildan Activewear, Inc		140
	2,100	*	Hain Celestial Group, Inc		40
	16,830	*	Henry Schein, Inc		924
	11,000		Kikkoman Corp		137
	3,500		Metro, Inc		114
	2,100		Myers Industries, Inc		23
	13,956	e	Nash Finch Co		382
	2,308,070		Noble Group Ltd		4,014
	452,200	*	Sojitz Holdings Corp		861
	18,582	e	Spartan Stores, Inc		263
	684,821		Sysco Corp		17,019
	334,862		Unilever NV		9,651
	1,900	*,e	Volcom, Inc		31
			TOTAL WHOLESALE TRADE-NONDURABLE GOODS		37,773
			TOTAL COMMON STOCKS		5,000,427
			(Cost $4,705,055)

404

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	MATURITY DATE	VALUE (000)
RIGHTS / WARRANTS - 0.00%**
DEPOSITORY INSTITUTIONS - 0.00%**
	151,478	m	BankAtlantic Bancorp, Inc		$	136
	180,978	m	Fortis			0	^
			TOTAL DEPOSITORY INSTITUTIONS			136
			TOTAL RIGHTS / WARRANTS			136
			(Cost $0)

PRINCIPAL		ISSUER
SHORT TERM INVESTMENTS - 7.10%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 3.28%
	$18,000,000	Federal Home Loan Bank (FHLB)	3/24/10	17,983
	15,200,000	FHLB	10/23/09	15,197
	7,000,000	FHLB	10/14/09	7,000
	7,600,000	FHLB	10/9/09	7,600
	3,115,000	FHLB	11/20/09	3,115
	25,675,000	FHLB	11/25/09	25,668
	15,600,000	FHLB	11/13/09	15,596
	12,500,000	Federal Home Loan Mortgage Corp (FHLMC)	3/22/10	12,491
	7,117,000	FHLMC	10/20/09	7,116
	31,802,000	FHLMC	10/26/09	31,795
	3,737,000	FHLMC	11/2/09	3,734
	30,000,000	FHLMC	12/21/09	29,997
	2,800,000	FHLMC	12/8/09	2,800
	50,000,000	Federal National Mortgage Association (FNMA)	1/11/10	49,987
	7,500,000	FNMA	10/21/09	7,498
	33,834,000	FNMA	10/28/09	33,829
		TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES		271,406
		(Cost $258,925)
U.S. TREASURY BILLS - 0.57%
	47,000,000	United States Treasury Bill	11/12/09	46,988
		TOTAL U.S. TREASURY BILLS		46,988
		(Cost $46,988)

405

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	MATURITY DATE		VALUE (000)
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 3.25%
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 1.75%
	$     3,147,000		Federal Home Loan Bank (FHLB)	5/5/10	$	3,143
	11,000,000		FHLB	11/12/09		10,998
	5,155,000		FHLB	11/13/09		5,155
	8,000,000		FHLB	12/11/09		7,999
	3,500,000		Federal Home Loan Mortgage Corp (FHLMC)	2/22/10		3,498
	11,500,000		FHLMC	2/8/10		11,495
	48,700,000		FHLMC	3/1/10		48,670
	20,000,000		FHLMC	4/6/10		19,982
	2,554,000		FHLMC	10/20/09		2,554
	10,567,000		FHLMC	11/9/09		10,565
	8,000,000		FHLMC	11/2/09		8,000
	5,300,000		FHLMC	12/14/09		5,299
	2,512,000		Federal National Mortgage Association (FNMA)	10/21/09		2,512
	4,942,000		(FNMA)	11/04/09		4,941
			TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES			144,811
U.S. TREASURY BILLS - 1.50%
	124,630,000		United States Treasury Bill			124,595
			TOTAL U.S. TREASURY BILLS			124,595
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED			269,406
			(Cost $281,788)
			TOTAL SHORT-TERM INVESTMENTS			587,800
			(Cost $587,701)
			TOTAL PORTFOLIO - 105.91%			8,766,481
			(Cost $8,427,080)
			OTHER ASSETS AND LIABILITIES, NET - (5.91)%			(489,193)
			NET ASSETS - 100.00%		$	8,277,288
			The following abbreviations are used in portfolio descriptions:
		LLC	Limited Liability Company
		LP	Limited Partnership
		NR	Not Rated by Moody’s
		plc	Public Limited Company
		WR	Withdrawn Rating
		†	As provided by Moody’s Investors Services
		*	Non-income producing
		**	Percentage represents less than 0.01%
		^	Amounts represents less than $1,000.
		e	All or a portion of these securities are out on loan.
		g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At September 30, 2009 the value of these securities amounted to 126,464,984 or 1.53 of net assets.
		i	Floating rate or variable rate securities reflects the rate in effect as of September 30, 2009.
		j	Zero coupon
		m	Indicates a security that has been deemed illiquid.
		p	Security participated in the FDIC Temporary Liquidity Guarantee Program.
			Cost amounts are in thousands.
			At September 30, 2009, the net unrealized appreciation on investment was $339,400,577, consisting of gross unrealized appreciation of $890,955,262 and gross unrealized depreciation of $(551,554,685).

406

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND

SOCIAL CHOICE ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)

September 30, 2009

COUNTRY	VALUE		% OF TOTAL PORTFOLIO
DOMESTIC
UNITED STATES	$	7,531,069,904		85.91	%
TOTAL DOMESTIC		7,531,069,904		85.91
FOREIGN
AUSTRALIA		86,284,075		0.98
AUSTRIA		11,538,998		0.13
BELGIUM		14,222,346		0.16
BERMUDA		60,900		0.00	**
CANADA		164,977,975		1.88
DENMARK		11,011,955		0.13
FINLAND		13,181,023		0.15
FRANCE		90,852,207		1.04
GERMANY		74,723,763		0.85
GREECE		9,278,842		0.11
HONG KONG		31,173,788		0.36
IRELAND		36,016,897		0.41
ITALY		43,940,529		0.50
JAPAN		221,588,414		2.53
LUXEMBOURG		15,760,163		0.18
NETHERLANDS		59,214,616		0.67
NEW ZEALAND		3,305,200		0.04
NORWAY		13,503,334		0.15
PORTUGAL		6,835,085		0.08
PUERTO RICO		227,855		0.00	**
SINGAPORE		10,138,966		0.12
SPAIN		52,027,221		0.59
SWEDEN		25,350,197		0.29
SWITZERLAND		69,591,447		0.79
UNITED KINGDOM		170,605,056		1.95
TOTAL FOREIGN		1,235,410,852		14.09
TOTAL PORTFOLIO	$	8,766,480,756		100.00	%

** Percentage represents less than 0.01%.

407

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND

MONEY MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2009

PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
GOVERNMENT BONDS 1.37%
AGENCY SECURITIES - 0.19%
	$     17,000,000	Federal National Mortgage Association (FNMA)	3.000%	3/10/2010	$	17,183
	10,000,000	Private Export Funding Corp	7.200	1/15/2010		10,177
		TOTAL AGENCY SECURITIES				27,360
U.S. TREASURY SECURITIES - 1.18%
	25,000,000	United States Treasury Note	2.000	2/28/2010		25,163
	39,690,000	United States Treasury Note	2.630	5/31/2010		40,260
	73,850,000	United States Treasury Note	2.880	6/30/2010		75,106
	22,800,000	United States Treasury Note	2.750	7/31/2010		23,219
		TOTAL U.S. TREASURY SECURITIES				163,748
		TOTAL GOVERNMENT BONDS				191,108
		(Cost $191,108)
SHORT-TERM INVESTMENTS - 98.61%
BANKER’S ACCEPTANCES - 2.50%
	16,468,000	Bank of America NA	0.000	10/5/2009		16,467
	29,011,000	Bank of America NA	0.000	10/8/2009		29,009
	5,000,000	Bank of America NA	0.000	10/14/2009		4,999
	4,595,000	Bank of America NA	0.000	10/16/2009		4,594
	10,145,000	Bank of America NA	0.000	10/21/2009		10,144
	5,619,000	Bank of America NA	0.000	10/22/2009		5,618
	1,383,000	Bank of America NA	0.000	10/30/2009		1,383
	1,894,000	Bank of America NA	0.000	11/3/2009		1,892
	65,146,000	Bank of America NA	0.000	11/16/2009		65,065
	11,222,000	Bank of America NA	0.000	11/20/2009		11,211
	12,153,000	Bank of America NA	0.000	11/30/2009		12,131
	1,372,000	Bank of America NA	0.000	12/3/2009		1,372
	15,714,000	Bank of America NA	0.000	12/14/2009		15,682
	14,000,000	Bank of America NA	0.000	12/15/2009		13,973
	1,549,000	Bank of America NA	0.000	12/21/2009		1,547
	16,688,000	Bank of America NA	0.000	1/19/2010		16,657
	3,787,000	Bank of America NA	0.000	2/1/2010		3,781
	4,366,000	Bank of America NA	0.000	2/16/2010		4,356
	5,000,000	Bank of America NA	0.000	3/1/2010		4,990
	9,447,000	JPMorgan Chase Bank NA	0.000	10/15/2009		9,446
	2,056,000	JPMorgan Chase Bank NA	0.000	11/23/2009		2,055
	1,579,000	JPMorgan Chase Bank NA	0.000	11/30/2009		1,578
	30,000,000	Wachovia Bank NA	0.000	10/1/2009		30,000
	20,000,000	Wachovia Bank NA	0.000	11/12/2009		19,994
	28,900,000	Wachovia Bank NA	0.000	11/23/2009		28,877
	30,000,000	Wachovia Bank NA	0.000	12/1/2009		29,974
		TOTAL BANKER’S ACCEPTANCES				346,795

408

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account
PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
CERTIFICATE OF DEPOSIT - 12.27%
	$     30,000,000	Abbey National North America LLC	0.360%	10/29/2009	$	30,000
	41,185,000	Abbey National North America LLC	0.470	11/5/2009		41,186
	25,000,000	Abbey National North America LLC	0.520	11/18/2009		25,001
	75,000,000	Banco Bilbao Vizcaya Argentaria S.A.	0.310	10/23/2009		75,001
	32,000,000	Banco Bilbao Vizcaya Argentaria S.A.	0.730	11/12/2009		32,000
	27,000,000	Banco Bilbao Vizcaya Argentaria S.A.	0.640	11/30/2009		27,000
	50,000,000	Banco Bilbao Vizcaya Argentaria S.A.	0.610	12/8/2009		50,000
	48,000,000	Banco Bilbao Vizcaya Argentaria S.A.	0.590	12/15/2009		48,000
	25,000,000	Banco Bilbao Vizcaya Argentaria S.A.	0.570	12/29/2009		25,002
	40,000,000	Banco Bilbao Vizcaya Argentaria S.A.	1.250	12/30/2009		40,025
	35,000,000	Bank of NV Scotia	0.500	12/10/2009		35,000
	25,000,000	Bank of NV Scotia	0.500	12/15/2009		25,000
	20,000,000	Bank of NV Scotia	0.950	6/10/2010		20,000
	30,000,000	Barclays Bank plc	0.950	10/22/2009		30,000
	25,000,000	Barclays Bank plc	0.980	11/2/2009		25,000
	40,000,000	Barclays Bank plc	0.950	11/4/2009		40,000
	17,000,000	Barclays Bank plc	1.270	11/16/2009		17,005
	30,000,000	Barclays Bank plc	0.780	1/11/2010		30,000
	30,000,000	Barclays Bank plc	0.960	4/19/2010		30,000
	22,715,000	Barclays Bank plc	0.820	5/11/2010		22,715
	50,000,000	BNP Paribas	0.310	10/7/2009		50,000
	51,400,000	BNP Paribas	0.290	10/30/2009		51,400
	25,000,000	Calyon	0.490	10/1/2009		25,000
	40,000,000	Calyon	0.250	11/2/2009		40,000
	25,000,000	Calyon	0.420	11/4/2009		25,000
	30,000,000	Calyon	0.420	11/4/2009		30,001
	30,000,000	Calyon	0.250	12/7/2009		30,001
	50,000,000	Canadian Imperial Bank of Commerce	0.300	10/27/2009		50,000
	25,000,000	Canadian Imperial Bank of Commerce	0.250	1/20/2010		25,000
	25,000,000	Canadian Imperial Bank of Commerce	0.300	3/16/2010		25,000
	25,000,000	Lloyds TSB Bank plc	0.540	10/2/2009		25,000
	34,000,000	Lloyds TSB Bank plc	0.620	11/6/2009		34,001
	27,000,000	Lloyds TSB Bank plc	0.600	11/10/2009		27,001
	20,000,000	Lloyds TSB Bank plc	0.510	12/30/2009		20,000
	45,000,000	Rabobank Nederland NV	1.000	10/9/2009		45,000
	10,000,000	Rabobank Nederland NV	0.300	10/27/2009		10,000
	55,000,000	Rabobank Nederland NV	0.520	1/15/2010		55,003
	20,000,000	Rabobank Nederland NV	1.050	4/30/2010		20,057
	20,000,000	Rabobank Nederland NV	0.740	7/30/2010		20,000
	25,000,000	Royal Bank of Canada	0.200	12/21/2009		25,001
	50,000,000	Royal Bank of Canada	0.230	1/22/2010		50,002
	25,000,000	Royal Bank of Scotland plc	0.350	10/6/2009		25,000
	50,000,000	Royal Bank of Scotland plc	0.900	10/8/2009		50,000
	25,000,000	Royal Bank of Scotland plc	0.700	11/17/2009		25,000
	30,000,000	Royal Bank of Scotland plc	0.390	11/20/2009		30,000
	50,000,000	Royal Bank of Scotland plc	0.690	12/2/2009		50,000
	50,000,000	Toronto-Dominion Bank	0.750	10/2/2009		50,000
	50,000,000	Toronto-Dominion Bank	0.750	10/7/2009		50,000
	30,000,000	Toronto-Dominion Bank	1.510	11/12/2009		30,000
	45,000,000	Toronto-Dominion Bank	0.250	1/25/2010		45,000
		TOTAL CERTIFICATE OF DEPOSIT				1,705,402
COMMERCIAL PAPER - 38.88%
	21,850,000	Abbey National North America LLC	0.000	10/28/2009		21,846

409

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account
PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     20,000,000		Abbey National North America LLC	0.000%	11/24/2009	$	19,993
	20,000,000		Abbey National North America LLC	0.000	12/16/2009		19,979
	50,000,000		Abbey National North America LLC	0.000	1/14/2010		49,965
	6,135,000		Abbott Laboratories	0.000	10/8/2009		6,135
	10,000,000		Abbott Laboratories	0.000	10/26/2009		9,998
	18,895,000		Abbott Laboratories	0.000	11/6/2009		18,892
	5,700,000		Abbott Laboratories	0.000	11/16/2009		5,699
	47,500,000		Abbott Laboratories	0.000	11/23/2009		47,485
	17,000,000		Abbott Laboratories	0.000	11/30/2009		16,995
	5,500,000		American Honda Finance Corp	0.000	11/19/2009		5,498
	15,580,000		American Honda Finance Corp	0.000	12/15/2009		15,572
	34,000,000		Bank of NV Scotia	0.000	10/1/2009		34,000
	34,745,000		Bank of NV Scotia	0.000	10/20/2009		34,740
	10,000,000		Bank of NV Scotia	0.000	10/21/2009		9,999
	25,000,000		Bank of NV Scotia	0.000	10/22/2009		24,996
	25,000,000		Bank of NV Scotia	0.000	10/23/2009		24,997
	10,000,000		Bank of NV Scotia	0.000	10/29/2009		9,999
	25,000,000		Bank of NV Scotia	0.000	11/3/2009		24,983
	6,000,000		Bank of NV Scotia	0.000	11/4/2009		5,997
	25,000,000		Bank of NV Scotia	0.000	11/6/2009		24,994
	20,000,000		Bank of NV Scotia	0.000	11/13/2009		19,987
	13,395,000		Bank of NV Scotia	0.000	11/30/2009		13,391
	5,360,000		Bank of NV Scotia	0.000	12/8/2009		5,358
	27,935,000		Bank of NV Scotia	0.000	12/23/2009		27,903
	30,000,000		Bank of Montreal	0.000	10/2/2009		30,000
	35,000,000		BNP Paribas Finance, Inc	0.000	10/9/2009		34,998
	48,555,000		BNP Paribas Finance, Inc	0.000	10/20/2009		48,547
	15,000,000		BNP Paribas Finance, Inc	0.000	10/27/2009		14,998
	40,000,000		BNP Paribas Finance, Inc	0.000	10/29/2009		39,992
	25,000,000		BNP Paribas Finance, Inc	0.000	11/4/2009		24,995
	25,000,000		BNP Paribas Finance, Inc	0.000	11/25/2009		24,990
	25,000,000		Calyon North America, Inc	0.000	10/1/2009		25,000
	25,000,000		Ciesco LLC	0.000	10/1/2009		25,000
	50,000,000		Ciesco LLC	0.000	10/23/2009		49,991
	67,515,000		Ciesco LLC	0.000	11/3/2009		67,495
	9,000,000		Ciesco LLC	0.000	11/19/2009		8,996
	45,420,000	p	Citigroup Funding, Inc-TLGP	0.000	10/8/2009		45,418
	50,000,000	p	Citigroup Funding, Inc-TLGP	0.000	10/14/2009		49,997
	14,000,000		Coca-Cola Co	0.000	11/2/2009		13,996
	11,038,000		Coca-Cola Co	0.000	11/30/2009		11,034
	4,155,000		Coca-Cola Co	0.000	12/3/2009		4,154
	28,100,000		Coca-Cola Co	0.000	12/4/2009		28,088
	25,200,000		Coca-Cola Co	0.000	12/14/2009		25,189
	25,000,000		Coca-Cola Co	0.000	1/7/2010		24,987
	25,000,000		Corporate Asset Funding Co, Inc	0.000	10/7/2009		24,999
	5,000,000		Corporate Asset Funding Co	0.000	10/13/2009		5,000
	3,800,000		Corporate Asset Funding Co	0.000	10/26/2009		3,799
	40,000,000		Corporate Asset Funding Co	0.000	11/17/2009		39,984
	50,000,000		Corporate Asset Funding Co	0.000	1/27/2010		49,951
	17,780,000		Fairway Finance LLC	0.000	10/5/2009		17,780
	41,837,000		Fairway Finance LLC	0.000	10/8/2009		41,835
	25,000,000		Fairway Finance LLC	0.000	10/22/2009		24,997
	40,000,000		Fairway Finance LLC	0.000	11/5/2009		39,992
	14,949,000		Fairway Finance LLC	0.000	11/17/2009		14,944
	37,611,000		Fairway Finance LLC	0.000	11/20/2009		37,599
	32,376,000		General Electric Capital Corp	0.000	10/9/2009		32,374

410

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account
PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     68,536,000	Govco LLC	0.000%	10/20/2009	$	68,524
	60,000,000	Govco LLC	0.000	11/3/2009		59,984
	25,000,000	Govco LLC	0.000	11/16/2009		24,990
	27,800,000	Govco LLC	0.000	11/24/2009		27,790
	11,456,000	Govco LLC	0.000	11/25/2009		11,452
	75,820,000	Govco LLC	0.000	12/22/2009		75,724
	32,000,000	ING US Funding LLC	0.000	10/13/2009		31,997
	44,000,000	ING US Funding LLC	0.000	10/23/2009		43,988
	20,000,000	ING US Funding LLC	0.000	10/26/2009		19,996
	40,000,000	ING US Funding LLC	0.000	10/27/2009		39,987
	4,000,000	ING US Funding LLC	0.000	11/3/2009		3,999
	14,500,000	ING US Funding LLC	0.000	11/30/2009		14,487
	20,000,000	ING US Funding LLC	0.000	12/4/2009		19,991
	10,000,000	ING US Funding LLC	0.000	12/28/2009		9,990
	12,230,000	Johnson & Johnson	0.000	10/8/2009		12,229
	30,000,000	Johnson & Johnson	0.000	10/30/2009		29,994
	10,482,000	Kitty Hawk Funding Corp	0.000	10/5/2009		10,482
	27,600,000	Kitty Hawk Funding Corp	0.000	10/15/2009		27,597
	10,003,000	Kitty Hawk Funding Corp	0.000	10/26/2009		10,002
	25,000,000	Kitty Hawk Funding Corp	0.000	11/2/2009		24,995
	45,500,000	Kitty Hawk Funding Corp	0.000	11/5/2009		45,491
	7,935,000	Kitty Hawk Funding Corp	0.000	11/10/2009		7,933
	20,000,000	Lloyds TSB Bank plc	0.000	10/6/2009		19,999
	25,000,000	Lloyds TSB Bank plc	0.000	10/14/2009		24,998
	2,050,000	Lloyds TSB Bank plc	0.000	10/19/2009		2,050
	10,725,000	Lloyds TSB Bank plc	0.000	11/5/2009		10,723
	40,000,000	Nestle Capital Corp	0.000	10/1/2009		40,000
	46,890,000	Nestle Capital Corp	0.000	10/6/2009		46,886
	20,000,000	Nestle Capital Corp	0.000	10/9/2009		19,997
	30,000,000	Nestle Capital Corp	0.000	10/13/2009		29,994
	60,000,000	Nestle Capital Corp	0.000	10/19/2009		59,993
	25,000,000	Nestle Capital Corp	0.000	12/2/2009		24,992
	50,000,000	Nestle Capital Corp	0.000	1/19/2010		49,905
	12,135,000	Nestle Capital Corp	0.000	2/16/2010		12,104
	25,000,000	Nestle Capital Corp	0.000	3/17/2010		24,944
	25,000,000	Nestle Capital Corp	0.000	4/5/2010		24,940
	17,000,000	Old Line Funding LLC	0.000	10/5/2009		16,999
	16,000,000	Old Line Funding LLC	0.000	10/8/2009		15,999
	8,045,000	Old Line Funding LLC	0.000	10/13/2009		8,044
	79,635,000	Old Line Funding LLC	0.000	10/15/2009		79,626
	15,000,000	Old Line Funding LLC	0.000	11/10/2009		14,996
	27,346,000	Old Line Funding LLC	0.000	11/17/2009		27,336
	54,334,000	Old Line Funding LLC	0.000	12/2/2009		54,312
	50,400,000	Old Line Funding LLC	0.000	12/3/2009		50,378
	57,169,000	Old Line Funding LLC	0.000	12/7/2009		57,145
	5,130,000	PACCAR Financial Corp	0.000	11/17/2009		5,128
	22,100,000	PACCAR Financial Corp	0.000	12/17/2009		22,090
	10,000,000	Park Avenue Receivables Corp	0.000	10/21/2009		9,999
	50,000,000	Park Avenue Receivables Corp	0.000	11/3/2009		49,991
	17,900,000	Park Avenue Receivables Corp	0.000	11/5/2009		17,897
	19,500,000	Park Avenue Receivables Corp	0.000	11/17/2009		19,495
	25,000,000	Park Avenue Receivables Corp	0.000	11/18/2009		24,993
	13,390,000	Pfizer, Inc	0.000	11/9/2009		13,385
	25,000,000	Private Export Funding Corp	0.000	10/22/2009		24,995
	6,200,000	Private Export Funding Corp	0.000	12/3/2009		6,198
	25,000,000	Private Export Funding Corp	0.000	12/4/2009		24,991

411

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account
PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     25,000,000	Private Export Funding Corp	0.000%	12/11/2009	$	24,983
	50,530,000	Private Export Funding Corp	0.000	12/18/2009		50,495
	21,320,000	Private Export Funding Corp	0.000	1/27/2010		21,300
	20,000,000	Private Export Funding Corp	0.000	2/3/2010		19,962
	23,845,000	Private Export Funding Corp	0.000	2/5/2010		23,799
	14,000,000	Private Export Funding Corp	0.000	2/11/2010		13,972
	25,000,000	Private Export Funding Corp	0.000	2/17/2010		24,957
	15,000,000	Private Export Funding Corp	0.000	3/4/2010		14,979
	26,650,000	Private Export Funding Corp	0.000	3/8/2010		26,602
	22,000,000	Private Export Funding Corp	0.000	3/9/2010		21,960
	34,500,000	Private Export Funding Corp	0.000	4/7/2010		34,406
	10,000,000	Private Export Funding Corp	0.000	4/26/2010		9,971
	31,670,000	Procter & Gamble International Funding S.C.A	0.000	10/5/2009		31,669
	47,600,000	Procter & Gamble International Funding S.C.A	0.000	10/6/2009		47,598
	20,000,000	Procter & Gamble International Funding S.C.A	0.000	10/13/2009		19,998
	35,000,000	Procter & Gamble International Funding S.C.A	0.000	10/15/2009		34,997
	29,370,000	Procter & Gamble International Funding S.C.A	0.000	10/16/2009		29,367
	7,925,000	Procter & Gamble International Funding S.C.A	0.000	10/19/2009		7,924
	7,130,000	Procter & Gamble International Funding S.C.A	0.000	10/23/2009		7,129
	43,800,000	Procter & Gamble International Funding S.C.A	0.000	10/27/2009		43,793
	25,190,000	Procter & Gamble International Funding S.C.A	0.000	10/28/2009		25,186
	20,000,000	Procter & Gamble International Funding S.C.A	0.000	12/4/2009		19,993
	100,000,000	Province of Ontario Canada	0.000	10/7/2009		99,995
	30,000,000	Rabobank USA Financial Corp	0.000	10/14/2009		29,994
	50,000,000	Rabobank USA Financial Corp	0.000	11/18/2009		49,964
	46,635,000	Rabobank USA Financial Corp	0.000	11/25/2009		46,602
	24,500,000	Rabobank USA Financial Corp	0.000	12/1/2009		24,490
	30,000,000	Rabobank USA Financial Corp	0.000	12/2/2009		29,990
	20,000,000	Rabobank USA Financial Corp	0.000	12/8/2009		19,981
	32,700,000	Rabobank USA Financial Corp	0.000	1/19/2010		32,673
	10,000,000	Rabobank USA Financial Corp	0.000	2/18/2010		9,988
	5,414,000	Ranger Funding Co LLC	0.000	11/17/2009		5,412
	25,000,000	Ranger Funding Co LLC	0.000	12/10/2009		24,990
	25,000,000	Royal Bank of Canada	0.000	11/23/2009		24,993
	50,000,000	Royal Bank of Canada	0.000	11/24/2009		49,986
	19,200,000	Royal Bank of Canada	0.000	12/24/2009		19,191
	18,300,000	Royal Bank of Canada	0.000	12/28/2009		18,291
	5,000,000	Royal Bank of Canada	0.000	1/22/2010		4,996
	10,000,000	Royal Bank of Canada	0.000	1/25/2010		9,993
	25,000,000	Royal Bank of Canada	0.000	2/23/2010		24,976
	28,535,000	Royal Bank of Scotland plc	0.000	10/19/2009		28,531
	14,740,000	Royal Bank of Scotland plc	0.000	10/29/2009		14,737
	27,000,000	Santander Central Hispano Finance Delaware, Inc	0.000	4/9/2010		26,926
	25,000,000	Santander Central Hispano Finance Delaware, Inc	0.000	6/3/2010		24,888
	25,000,000	Sheffield Receivables Corp	0.000	10/2/2009		25,000
	25,000,000	Sheffield Receivables Corp	0.000	10/5/2009		24,999
	30,000,000	Sheffield Receivables Corp	0.000	10/16/2009		29,997
	35,000,000	Sheffield Receivables Corp	0.000	10/22/2009		34,995
	34,200,000	Sheffield Receivables Corp	0.000	10/27/2009		34,195
	27,600,000	Sheffield Receivables Corp	0.000	10/28/2009		27,595
	5,890,000	Sheffield Receivables Corp	0.000	11/5/2009		5,889
	11,140,000	Sheffield Receivables Corp	0.000	11/9/2009		11,138
	45,000,000	Sheffield Receivables Corp	0.000	11/16/2009		44,986
	31,700,000	Societe Generale North America, Inc	0.000	10/1/2009		31,700
	30,000,000	Societe Generale North America, Inc	0.000	10/6/2009		29,999
	25,000,000	Societe Generale North America, Inc	0.000	10/15/2009		24,998

412

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     20,000,000	Societe Generale North America, Inc	0.000%	10/21/2009	$	19,997
	20,000,000	Societe Generale North America, Inc	0.000	10/22/2009		19,997
	20,000,000	Societe Generale North America, Inc	0.000	10/23/2009		19,997
	25,000,000	Societe Generale North America, Inc	0.000	10/26/2009		24,996
	30,000,000	Societe Generale North America, Inc	0.000	10/29/2009		29,994
	30,000,000	Societe Generale North America, Inc	0.000	11/3/2009		29,989
	30,000,000	Societe Generale North America, Inc	0.000	12/1/2009		29,986
	50,000,000	Straight-A Funding LLC	0.000	11/18/2009		49,986
	16,000,000	Toronto-Dominion Holdings USA, Inc	0.000	2/8/2010		15,971
	23,000,000	Toronto-Dominion Holdings USA, Inc	0.000	3/15/2010		22,963
	20,000,000	Toronto-Dominion Holdings USA, Inc	0.000	3/23/2010		19,939
	20,000,000	Toronto-Dominion Holdings USA, Inc	0.000	4/6/2010		19,932
	40,000,000	Toronto-Dominion Holdings USA, Inc	0.000	5/14/2010		39,878
	50,000,000	Toyota Motor Credit Corp	0.000	10/6/2009		49,998
	50,000,000	Toyota Motor Credit Corp	0.000	10/14/2009		49,996
	30,000,000	Toyota Motor Credit Corp	0.000	10/15/2009		29,998
	20,000,000	Toyota Motor Credit Corp	0.000	10/19/2009		19,998
	50,000,000	Toyota Motor Credit Corp	0.000	10/29/2009		49,992
	20,000,000	Toyota Motor Credit Corp	0.000	11/9/2009		19,995
	15,000,000	Unilever Capital Corp	0.000	10/9/2009		15,000
	3,300,000	Unilever Capital Corp	0.000	10/13/2009		3,300
	20,000,000	Unilever Capital Corp	0.000	10/14/2009		19,999
	14,600,000	Unilever Capital Corp	0.000	10/15/2009		14,599
	25,000,000	Variable Funding Capital Co LLC	0.000	10/7/2009		24,999
	39,700,000	Variable Funding Capital Co LLC	0.000	10/20/2009		39,696
	24,500,000	Variable Funding Capital Co LLC	0.000	11/3/2009		24,494
	25,000,000	Variable Funding Capital Co LLC	0.000	11/12/2009		24,992
	23,158,000	Variable Funding Capital Co LLC	0.000	11/17/2009		23,150
	20,000,000	Variable Funding Capital Co LLC	0.000	11/30/2009		19,992
	29,518,000	Variable Funding Capital Co LLC	0.000	12/16/2009		29,505
	40,000,000	Yorktown Capital LLC	0.000	11/20/2009		39,988
	35,000,000	Yorktown Capital LLC	0.000	12/16/2009		34,980
	10,000,000	Yorktown Capital LLC	0.000	12/17/2009		9,994
	25,000,000	Yorktown Capital LLC	0.000	12/18/2009		24,988
		TOTAL COMMERCIAL PAPER				5,403,060
	U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 32.43%
		Federal Farm Credit Bank (FFCB)
	6,000,000	FFCB	0.000	4/19/2010		5,985
	4,000,000	FFCB	0.000	4/21/2010		3,991
	12,285,000	FFCB	0.000	10/13/2009		12,284
	1,900,000	FFCB	0.000	11/20/2009		1,898
	10,000,000	FFCB	0.000	11/24/2009		9,996
	10,500,000	FFCB	0.000	12/1/2009		10,494
	20,000,000	FFCB	0.000	12/11/2009		19,966
		Federal Home Loan Bank (FHLB)
	39,245,000	FHLB	0.000	12/2/2009		39,234
	11,050,000	FHLB	0.000	2/24/2010		11,042
	31,123,000	FHLB	0.000	9/16/2010		30,999
	1,200,000	FHLB	0.000	1/19/2010		1,199
	17,000,000	FHLB	0.000	1/20/2010		16,989
	19,550,000	FHLB	0.000	2/1/2010		19,506
	15,760,000	FHLB	0.000	2/17/2010		15,740
	3,100,000	FHLB	0.000	3/5/2010		3,094
	14,780,000	FHLB	0.000	4/1/2010		14,744
	30,000,000	FHLB	0.000	4/22/2010		29,887

413

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     10,000,000	FHLB	0.000%	4/26/2010	$	9,964
	9,650,000	FHLB	0.000	7/1/2010		9,611
	25,000,000	FHLB	0.000	9/15/2010		24,903
	11,755,000	FHLB	0.000	9/17/2010		11,709
	25,000,000	FHLB	0.000	10/1/2009		25,000
	18,880,000	FHLB	0.000	10/2/2009		18,880
	30,410,000	FHLB	0.000	10/6/2009		30,409
	48,805,000	FHLB	0.000	10/9/2009		48,802
	10,000,000	FHLB	0.000	10/13/2009		9,998
	5,000,000	FHLB	0.000	10/14/2009		5,000
	132,900,000	FHLB	0.000	10/16/2009		132,891
	40,000,000	FHLB	0.000	10/20/2009		39,995
	70,000,000	FHLB	0.000	10/21/2009		69,988
	205,814,000	FHLB	0.000	10/28/2009		205,794
	10,000,000	FHLB	0.000	10/30/2009		9,997
	88,666,000	FHLB	0.000	11/2/2009		88,630
	77,932,000	FHLB	0.000	11/4/2009		77,921
	92,717,000	FHLB	0.000	11/6/2009		92,687
	68,211,000	FHLB	0.000	11/13/2009		68,193
	76,355,000	FHLB	0.000	11/18/2009		76,338
	73,809,000	FHLB	0.000	11/20/2009		73,790
	33,860,000	FHLB	0.000	11/25/2009		33,851
	44,430,000	FHLB	0.000	11/27/2009		44,418
	50,000,000	FHLB	0.000	12/1/2009		49,962
	14,240,000	FHLB	0.000	12/7/2009		14,221
	101,050,000	FHLB	0.000	12/8/2009		100,958
	46,400,000	FHLB	0.000	12/11/2009		46,387
	40,000,000	FHLB	0.000	12/14/2009		39,940
	6,100,000	FHLB	0.000	12/15/2009		6,096
	44,402,000	FHLB	0.000	12/16/2009		44,388
	45,000,000	FHLB	0.000	12/18/2009		44,985
	11,250,000	FHLB	0.000	12/21/2009		11,246
	25,000,000	FHLB	0.000	12/9/2009		25,000
	18,750,000	FHLB	0.000	6/15/2010		18,749
	10,000,000	FHLB	0.000	6/22/2010		9,995
	3,445,000	FHLB	0.000	7/13/2010		3,459
		Federal Home Loan Mortgage Corp (FHLMC)
	22,375,000	FHLMC	0.000	1/4/2010		22,345
	12,632,000	FHLMC	0.000	1/6/2010		12,627
	18,000,000	FHLMC	0.000	1/11/2010		17,988
	30,000,000	FHLMC	0.000	1/20/2010		29,986
	49,300,000	FHLMC	0.000	1/21/2010		49,272
	12,835,000	FHLMC	0.000	1/26/2010		12,828
	31,400,000	FHLMC	0.000	1/27/2010		31,383
	81,744,000	FHLMC	0.000	2/1/2010		81,693
	10,000,000	FHLMC	0.000	2/4/2010		9,988
	10,000,000	FHLMC	0.000	2/8/2010		9,995
	44,000,000	FHLMC	0.000	2/22/2010		43,956
	8,799,000	FHLMC	0.000	2/23/2010		8,792
	31,000,000	FHLMC	0.000	4/16/2010		30,921
	55,460,000	FHLMC	0.000	5/5/2010		55,297
	32,660,000	FHLMC	0.000	6/1/2010		32,540
	30,000,000	FHLMC	0.000	10/1/2009		30,000
	104,887,000	FHLMC	0.000	10/5/2009		104,882
	63,597,000	FHLMC	0.000	10/13/2009		63,592
	50,000,000	FHLMC	0.000	10/14/2009		49,997

414

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     86,700,000	FHLMC	0.000%	10/19/2009	$	86,687
	11,680,000	FHLMC	0.000	10/20/2009		11,679
	17,100,000	FHLMC	0.000	10/23/2009		17,095
	5,950,000	FHLMC	0.000	10/26/2009		5,949
	63,500,000	FHLMC	0.000	11/2/2009		63,488
	65,925,000	FHLMC	0.000	11/9/2009		65,903
	70,000,000	FHLMC	0.000	11/16/2009		69,958
	50,000,000	FHLMC	0.000	11/17/2009		49,961
	78,750,000	FHLMC	0.000	11/23/2009		78,718
	28,725,000	FHLMC	0.000	11/24/2009		28,715
	23,535,000	FHLMC	0.000	11/25/2009		23,516
	81,507,000	FHLMC	0.000	11/30/2009		81,484
	69,295,000	FHLMC	0.000	12/7/2009		69,228
	20,000,000	FHLMC	0.000	12/14/2009		19,988
	6,815,000	FHLMC	0.000	12/15/2009		6,812
	30,857,000	FHLMC	0.000	12/21/2009		30,809
	37,150,000	FHLMC	0.000	12/23/2009		37,087
	21,038,000	FHLMC	0.000	12/24/2009		21,014
	25,000,000	FHLMC	0.000	12/29/2009		24,967
	15,000,000	FHLMC	0.000	12/31/2009		14,977
		Federal National Mortgage Association (FNMA)
	19,735,000	FNMA	0.000	1/19/2010		19,704
	300,000	FNMA	0.000	1/22/2010		300
	48,380,000	FNMA	0.000	2/1/2010		48,338
	95,000,000	FNMA	0.000	2/10/2010		94,941
	46,315,000	FNMA	0.000	2/22/2010		46,246
	107,657,000	FNMA	0.000	4/1/2010		107,354
	3,011,000	FNMA	0.000	5/3/2010		3,003
	39,360,000	FNMA	0.000	10/1/2009		39,360
	37,000,000	FNMA	0.000	10/2/2009		37,000
	27,250,000	FNMA	0.000	10/5/2009		27,248
	18,000,000	FNMA	0.000	10/7/2009		17,999
	50,000,000	FNMA	0.000	10/13/2009		49,990
	13,000,000	FNMA	0.000	10/14/2009		12,999
	15,800,000	FNMA	0.000	10/16/2009		15,796
	50,000,000	FNMA	0.000	10/19/2009		49,983
	106,200,000	FNMA	0.000	10/21/2009		106,187
	122,898,000	FNMA	0.000	10/26/2009		122,862
	8,473,000	FNMA	0.000	10/28/2009		8,470
	32,640,000	FNMA	0.000	10/30/2009		32,622
	20,630,000	FNMA	0.000	11/4/2009		20,626
	5,000,000	FNMA	0.000	11/5/2009		4,997
	5,000,000	FNMA	0.000	11/9/2009		4,997
	10,000,000	FNMA	0.000	11/12/2009		9,998
	18,900,000	FNMA	0.000	11/20/2009		18,896
	110,000	FNMA	0.000	11/27/2009		110
	15,650,000	FNMA	0.000	12/1/2009		15,630
	6,935,000	FNMA	0.000	12/7/2009		6,929
	17,955,000	FNMA	0.000	12/14/2009		17,934
	25,000,000	FNMA	0.000	12/16/2009		24,993
	40,110,000	FNMA	0.000	12/17/2009		40,095
	11,460,000	FNMA	0.000	12/21/2009		11,439
	27,000,000	FNMA	0.000	12/22/2009		26,967
	20,000,000	FNMA	0.000	12/23/2009		19,994
	25,000,000	FNMA	0.000	12/28/2009		24,964
	13,335,000	FNMA	0.000	12/30/2009		13,315

415

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     28,685,000		FNMA	0.000%	12/31/2009	$	28,673
			TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES				4,508,279
	U.S. GOVERNMENT AND AGENCIES VARIABLE NOTES - 6.61%
			Federal Home Loan Bank (FHLB)
	100,000,000	i	FHLB	0.120	1/8/2010		100,000
	90,000,000	i	FHLB	0.210	1/13/2010		89,995
	100,000,000	i	FHLB	0.610	2/2/2010		100,000
	42,000,000	i	FHLB	0.770	2/26/2010		42,000
	100,000,000	i	FHLB	0.810	3/11/2010		99,997
			Federal Home Loan Mortgage Corp (FHLMC)
	100,000,000	i	FHLMC	0.340	2/4/2010		100,000
	190,000,000	i	FHLMC	0.320	2/9/2010		190,026
	100,000,000	i	FHLMC	0.440	3/26/2010		100,000
			Federal National Mortgage Association (FNMA)
	44,385,000	i	FNMA	0.420	1/28/2010		44,448
	50,000,000	i	FNMA	0.070	2/26/2010		50,000
			TOTAL U.S. GOVERNMENT AND AGENCIES VARIABLE NOTES				916,466
	U.S. TREASURY BILLS - 5.92%
	113,360,000		United States Cash Management Bill	0.000	6/10/2010		113,021
	33,690,000		United States Cash Management Bill	0.000	6/17/2010		33,597
	20,000,000		United States Treasury Bill	0.000	10/8/2009		19,999
	37,105,000		United States Treasury Bill	0.000	10/22/2009		37,093
	212,315,000		United States Treasury Bill	0.000	11/19/2009		212,185
	63,000,000		United States Treasury Bill	0.000	12/17/2009		62,954
	8,550,000		United States Treasury Bill	0.000	1/21/2010		8,544
	149,000,000		United States Treasury Bill	0.000	2/11/2010		148,863
	64,792,000		United States Treasury Bill	0.000	2/18/2010		64,730
	121,667,000		United States Treasury Bill	0.000	3/4/2010		121,586
			TOTAL U.S. TREASURY BILLS				822,572
			TOTAL SHORT-TERM INVESTMENTS				13,702,574
			(Cost $13,702,574)
			TOTAL PORTFOLIO - 99.98%				13,893,682
			(Cost $13,893,682)
			OTHER ASSETS & LIABILITIES, NET - 0.02%				2,250
			NET ASSETS - 100.00%			$	13,895,932
			The following abbreviations are used in portfolio descriptions:
		LLC	Limited Liability Company
		plc	Public Limited Company
		i	Floating rate or variable rate securities reflects the rate in effect as of September 30, 2009.
		p	Security participated in the FDIC Temporary Liquidity Guarantee Program.
			Cost amounts are in thousands.
			At September 30, 2009, the net unrealized appreciation on investment was $0, consisting of gross unrealized appreciation of $0 and gross unrealized depreciation of $0.

416

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedule of Investments (unaudited)

Note 1—significant accounting policies

The purpose of the College Retirement Equities Fund (“CREF”), as stated in its charter, is to aid and strengthen non-profit educational and research organizations, governmental entities and other non-profit institutions by providing its employees with variable retirement benefits. CREF is registered with the Securities and Exchange Commission under the Investment Company Act of 1940 as an open-end management investment company. It consists of eight investment portfolios: the Stock, Global Equities, Growth, Equity Index, Bond Market, Inflation-Linked Bond, Social Choice and Money Market Accounts (individually referred to as the “Account” or collectively referred to as the “Accounts”).

The accompanying schedule of investments 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. Actual results may differ from those estimates. The following is a summary of the significant accounting policies consistently followed by the Accounts.

Security valuation: For all Accounts (other than the Money Market Account) investments in securities are recorded at their estimated fair value as described in the valuation of investments note to schedule of investments. Investments held by the Money Market Account are recorded at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter amortizing any discount or premium from its face value at a constant rate until maturity.

Accumulation and Annuity Fund: The Accumulation Fund represents the net assets attributable to participants in the accumulation phase of their investment. The Annuity Fund represents the net assets attributable to the participants currently receiving annuity payments. The net increase or decrease in net assets from investment operations is apportioned between the funds based upon their relative daily net asset values. Annuitants bear the mortality risk under their contracts.

Accounting for investments: Securities transactions are accounted for as of the trade date.

Dollar rolls transactions: The Accounts may enter into mortgage dollar rolls in which the Account sells mortgage securities for delivery in the current month, realizing a gain(loss), and simultaneously contracts to repurchase somewhat similar (same type, coupon, and maturity) securities on a specified future date. During the roll period, the Account forgoes principal and interest paid on the securities. The Account 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 Account maintains a segregated account, the dollar value of which is at least equal to its obligations with respect to dollar rolls.

Foreign currency transactions and translation: Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate, using the mean of the bid and asked prices of such currencies against U.S. dollars as quoted by a major bank. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is reflected as a component of security gains and losses.

Repurchase agreements: The Accounts enter into repurchase agreements with brokers. Repurchase agreements involve the purchase of securities from an institution, subject to the seller’s agreement to repurchase and the Account’s agreement to resell such securities at a mutually-agreed upon price. Pursuant to the terms of the repurchase agreement, securities purchased subject to repurchase agreements must have an aggregate market value

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greater than or equal to the agreed-upon repurchase price plus accrued interest at all times. If the value of the underlying securities falls below the value of the repurchase price plus accrued interest, the Accounts will require the seller to deposit additional collateral by the next business day. If a request for additional collateral is not met, or if the seller defaults on its repurchase obligation, the Accounts maintain the right to sell the underlying securities at market value and pursue a claim for any remaining loss against the seller.

Securities lending: The Accounts (excluding the Money Market Account) may lend portfolio securities to qualified financial institutions to earn additional income.

Lending Accounts’ securities exposes the Accounts to counterparty and cash collateral investment risks. To minimize certain of these risks, loan counterparties pledge cash collateral equal to at least 102% of the market value of the securities loaned, subject to daily market fluctuations.

Cash collateral for the Stock and Global Equities Accounts is invested in individual securities selected by the lending agent, pursuant to investment restrictions defined by the TIAA-CREF Investment Management, LLC “TCIM”. The Growth, Equity Index, Bond Market, and Inflation-Linked Bond Accounts may invest in the State Street Navigator Securities Lending Portfolio. As of September 30, 2009, there were no securities lending for those Accounts. The cash collateral for the Social Choice Account is invested in short-term instruments by TCIM.

At September 30, 2009, the market value of investments of cash collateral for securities loaned (securities, cash, and other assets) and the amounts owed to lending counterparties are as follows:

Account	Market Value of Collateral			Amounts owed to Lending Counterparties
Stock		$	3,554,783,961		$	3,594,346,503
Global Equities			667,966,641			674,985,213
Social Choice			269,405,922			262,236,572

Futures contracts: The Accounts are subject to equity price risk and interest rate risk in the normal course of pursuing its investment objectives. The Accounts may use futures contracts to manage exposure to the equity and credit markets or for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract and variation margin payments are made or received reflecting changes in the value of the futures contracts. Futures contracts are valued at the last sales price as of the close of the board of trade or exchange on which they are traded. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts, or if the counterparties do not perform in accordance with contractual provisions. With futures, there is minimal counterparty credit risk to the Accounts since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.

Securities purchased on a when-issued or delayed delivery basis: The Accounts may purchase securities on a when-issued or delayed-delivery basis. Securities purchased or sold on a when issued or delayed-delivery basis may be settled a month or more after trade date. At the time an Account enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its when-issued or delayed-delivery purchase commitments.

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Treasury Inflation-Protected Securities: The Social Choice Account, Bond Market Account and Inflation-Linked Bond Account may invest in Treasury Inflation-Protected Securities (“TIPS”), 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.

Restricted securities: Restricted securities held by the Accounts, if any, may not be sold except in exempt transactions or in a public offering registered under the Securities Act of 1933. The risk of investing in such securities is generally greater than the risk of investing in securities that are widely held and publicly traded.

Transactions with affiliates: The Accounts may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Board of Trustees, pursuant to the Investment Company Act of 1940. These transactions are effected at market rates without incurring broker commissions.

Indemnification: In the normal course of business, each Account enters into contracts that contain a variety of representations and warranties and which provide general indemnities. An Account’s maximum exposure under these arrangements is unknown, as this would involve future claims against the Account that have not yet occurred. Also, under the Accounts’ Trust organizational documents, the Trustees and Officers of CREF are indemnified against certain liabilities that may arise out of their duties to CREF. However, based on experience, the Accounts expect the risk of loss due to these warranties and indemnities to be remote.

Note 2—valuation of investments

Portfolio Investments are valued at fair value utilizing various valuation methods approved by the Board of Trustees. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Accounts’ own assumptions in determining the fair value of investments)

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

A description of the valuation techniques applied to the Accounts major categories of assets and liabilities measured at fair value follows.

Exchange-traded equity securities, common & preferred stock - Equity securities listed or traded on a national market or exchange are valued based on their sale price on such market or exchange at the close of business on the date of valuation, or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign investments are valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. If events materially affecting the value of foreign securities occur between the time when the exchange on which they are traded closes and the time when the Accounts net assets are calculated, such securities may be valued at

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fair value in accordance with procedures adopted by the Board of Trustees. Foreign securities are generally categorized in Level 2 of the fair value hierarchy.

Debt securities - Debt securities will generally be valued using prices provided by a pricing service which may employ various indications of value including but not limited to broker-dealer quotations. Certain debt securities, other than money market instruments, are valued based on the most recent bid price or the equivalent quoted yield for such securities (or those of comparable maturity, quality and type). Debt securities are generally categorized in Level 2 of the fair value hierarchy; in instances where prices, yields, or any other key inputs are unobservable, they are categorized in Level 3 of the hierarchy.

Short-term investments - - Short-term investments (other than those in the Money Market Account) with maturities of 60 days or less are valued at amortized cost. Short-term investments with maturities in excess of 60 days are valued in the same manner as debt securities. .Short-term investments are generally categorized in Level 2 of the fair value hierarchy. Short-term investments in the Money Market Account are valued at amortized cost. Prior to May 1, 2009, short-term investments in the Money Market Account with maturities in excess of 60 days were valued in the same manner as debt securities. Money Market Account investments are categorized as Level 2 in the fair value hierarchy.

Investments in registered investment companies - These investments are valued at their net asset value on the valuation date. Net asset value of underlying funds is calculated as of the close of business of the New York Stock Exchange. These investments are categorized in Level 1 of the fair value hierarchy.

Futures contracts - Stock and bond index futures and options, which are traded on commodities exchanges, are valued at the last sales price as of the close of such commodities exchanges and are categorized in Level 1 of the fair value hierarchy.

The portfolio securities for which market quotations are not readily available are valued at fair value, as determined in good faith using procedures approved by the Board of Trustees. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy, otherwise they would be categorized as Level 3.

As of September 30, 100% of the investments in the Inflation-Linked Bond and Money Market Accounts were valued based on Level 2 inputs.

The following is a summary of the inputs used to value the remaining Accounts’ investments as of September 30, 2009:

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Account		Level 1		Level 2		Level 3		Total
Stock
Domestic Common Stocks	$	65,330,255,112	$	-	$	12,621,685	$	65,342,876,797
Foreign Common Stocks
Administartion of Economic Programs		-		3,186,197		-		3,186,197
Agricultural Production-Crops		-		130,358		-		130,358
Agricultural Services		-		2,352,407		-		2,352,407
Amusement And Recreation Services		13,378,916		134,021,173		-		147,400,089
Apparel And Accessory Stores		7,798,040		95,045,140		-		102,843,180
Apparel And Other Textile Products		-		32,976,128		-		32,976,128
Auto Repair, Services And Parking		-		60,887,969		-		60,887,969
Automotive Dealers And Service Stations		-		20,343,465		-		20,343,465
Building Materials And Garden Supplies		-		26,635,553		-		26,635,553
Business Services		80,799,957		854,955,461		-		935,755,418
Chemicals And Allied Products		321,514,843		2,307,082,082		-		2,628,596,925
Coal Mining		-		136,950,167		-		136,950,167
Communications		47,472,270		1,642,887,338		-		1,690,359,608
Depository Institutions		43,817,795		4,085,250,412		-		4,129,068,207
Eating And Drinking Places		-		143,209,680		-		143,209,680
Educational Services		-		14,740,611		-		14,740,611
Electric, Gas, And Sanitary Services		4,738,712		1,281,420,152		-		1,286,158,864
Electronic And Other Electric Equipment		30,060,055		1,339,365,032		-		1,369,425,087
Engineering And Management Services		18,451,904		237,253,505		-		255,705,409
Environmental Quality and Housing		-		856,291		-		856,291
Executive, Legislative and General		-		988,404		-		988,404
Fabricated Metal Products		-		70,979,510		-		70,979,510
Fishing, Hunting and Trapping		-		426,235		-		426,235
Food And Kindred Products		22,272,223		1,087,838,216		-		1,110,110,439
Food Stores		-		355,295,749		-		355,295,749
Forestry		-		99,078		-		99,078
Furniture And Fixtures		-		4,670,872		-		4,670,872
Furniture And Home Furnishings Stores		-		56,869,435		-		56,869,435
General Building Contractors		-		279,339,990		-		279,339,990
General Merchandise Stores		-		174,323,167		-		174,323,167
Health Services		2,772,519		49,444,350		-		52,216,869
Heavy Construction, Except Building		-		212,949,803		-		212,949,803
Holding And Other Investment Offices		15,984		502,540,702		-		502,556,686
Hotels And Other Lodging Places		-		75,674,074		-		75,674,074
Industrial Machinery And Equipment		2,433,313		728,817,247		-		731,250,560
Instruments And Related Products		3,908,194		266,875,140		-		270,783,334
Insurance Agents, Brokers And Service		-		90,153,519		-		90,153,519
Insurance Carriers		38,762,142		913,700,893		-		952,463,035
Justic, Public Order and Safety		-		2,581,380		-		2,581,380
Leather And Leather Products		-		52,724,250		-		52,724,250
Local and Interurban Passenger Transit		-		14,719,493		-		14,719,493
Lumber and Wood Products		-		15,103,196		-		15,103,196
Metal Mining		176,319,820		1,402,133,835		-		1,578,453,655
Miscellaneous Manufacturing Industries		-		62,693,744		-		62,693,744
Miscellaneous Repair Services		-		204,913		-		204,913
Miscellaneous Retail		8,782,003		157,269,811		-		166,051,814
Motion Pictures		-		16,221,057		-		16,221,057
Nondepository Institutions		7,308,920		418,409,971		-		425,718,891
Nonmetallic Minerals, Except Fuels		-		46,872,002		-		46,872,002
Oil And Gas Extraction		149,303,416		1,120,608,036		-		1,269,911,452
Paper And Allied Products		-		116,347,980		-		116,347,980
Personal Services		-		21,015,661		-		21,015,661
Petroleum And Coal Products		179,010,041		1,049,676,565		-		1,228,686,606
Pipelines, Except Natural Gas		-		34,564,912		-		34,564,912
Primary Metal Industries		23,261,930		453,054,918		-		476,316,848
Printing And Publishing		3,418,594		183,014,045		-		186,432,639
Railroad Transportation		-		166,234,555		-		166,234,555
Real Estate		2,276,654		509,445,432		-		511,722,086
Rubber And Miscellaneous Plastic Products		-		271,815,507		-		271,815,507
Security And Commodity Brokers		-		601,151,378		-		601,151,378
Social Services		-		3,525,742		-		3,525,742
Special Trade Contractors		-		21,569,846		-		21,569,846
Stone, Clay, And Glass Products		1,911,835		230,770,507		-		232,682,342
Textile Mill Products		-		27,392,331		-		27,392,331
Tobacco Products		437,789,281		265,256,021		-		703,045,302

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Account		Level 1		Level 2		Level 3		Total
Stock
Transportation By Air		13,361,640		84,479,415		-		97,841,055
Transportation Equipment		51,579,636		1,079,042,880		-		1,130,622,516
Transportation Services		697,361		63,276,854		-		63,974,215
Trucking And Warehousing		-		139,349,507		-		139,349,507
Water Transportation		14,766,878		104,471,206		-		119,238,084
Wholesale Trade-Durable Goods		4,866,490		664,936,782		-		669,803,272
Wholesale Trade-Nondurable Goods		94,089,818		335,482,043		-		429,571,861
Preferred Stocks
Food And Kindred Products		-		15,019,429		-		15,019,429
Holding And Other Investment Offices		-		6,153,476		-		6,153,476
Security And Commodity Brokers		-		2,797,963		-		2,797,963
Transportation By Air		-		302		-		302
Government Bonds		-		344,589		-		344,589
Rights / Warrants		98,664		5,709,327		-		5,807,991
Short-term Investments		-		3,733,327,021		-		3,733,327,021
Total	$	67,137,294,960		30,789,303,387		12,621,685	$	97,939,220,032
Global Equities
Domestic Common Stocks
Amusement And Recreation Services	$	12,197,313	$	-	$	-	$	12,197,313
Apparel And Accessory Stores		47,464,193		-		-		47,464,193
Apparel And Other Textile Products		17,169,205		-		-		17,169,205
Auto Repair, Services And Parking		1,650,285		-		-		1,650,285
Automotive Dealers And Service Stations		4,443,229		-		-		4,443,229
Building Materials And Garden Supplies		37,421,323		-		-		37,421,323
Business Services		432,468,279		-		-		432,468,279
Chemicals And Allied Products		446,940,215		-		-		446,940,215
Coal Mining		8,678,977		-		-		8,678,977
Communications		238,103,814		-		-		238,103,814
Depository Institutions		269,329,338		-		-		269,329,338
Eating And Drinking Places		46,087,357		-		-		46,087,357
Educational Services		11,102,818		-		-		11,102,818
Electric, Gas, And Sanitary Services		219,044,548		-		-		219,044,548
Electronic And Other Electric Equipment		505,786,693		-		-		505,786,693
Engineering And Management Services		28,753,225		-		-		28,753,225
Fabricated Metal Products		30,238,485		-		-		30,238,485
Food And Kindred Products		199,561,375		-		-		199,561,375
Food Stores		15,048,829		-		-		15,048,829
Forestry		5,385,087		-		-		5,385,087
Furniture And Fixtures		3,981,826		-		-		3,981,826
Furniture And Home Furnishings Stores		17,775,636		-		-		17,775,636
General Building Contractors		13,566,236		-		-		13,566,236
General Merchandise Stores		129,744,536		-		-		129,744,536
Health Services		68,234,389		-		-		68,234,389
Heavy Construction, Except Building		1,263,062		-		-		1,263,062
Holding And Other Investment Offices		384,355,291		-		-		384,355,291
Hotels And Other Lodging Places		19,630,431		-		-		19,630,431
Industrial Machinery And Equipment		403,708,546		-		-		403,708,546
Instruments And Related Products		159,530,113		-		-		159,530,113
Insurance Agents, Brokers And Service		12,996,855		-		-		12,996,855
Insurance Carriers		313,178,536		-		-		313,178,536
Leather And Leather Products		6,786,853		-		-		6,786,853
Legal Services		891,529		-		-		891,529
Metal Mining		25,529,998		-		-		25,529,998
Miscellaneous Manufacturing Industries		13,821,034		-		-		13,821,034
Miscellaneous Retail		86,890,416		-		-		86,890,416
Motion Pictures		53,302,215		-		-		53,302,215
Nondepository Institutions		46,732,254		-		-		46,732,254
Nonmetallic Minerals, Except Fuels		994,509		-		-		994,509
Oil And Gas Extraction		347,772,477		-		-		347,772,477
Paper And Allied Products		24,405,378		-		-		24,405,378
Personal Services		3,208,886		-		-		3,208,886
Petroleum And Coal Products		269,081,244		-		-		269,081,244
Pipelines, Except Natural Gas		5,234,808		-		-		5,234,808
Primary Metal Industries		31,862,873		-		-		31,862,873
Printing And Publishing		8,301,121		-		-		8,301,121
Railroad Transportation		40,995,822		-		-		40,995,822
Real Estate		1,290,732		-		-		1,290,732
Rubber And Miscellaneous Plastic Products		6,711,305		-		-		6,711,305
Security And Commodity Brokers		184,322,182		-		-		184,322,182

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Account	Level 1		Level 2		Level 3		Total
Special Trade Contractors		653,764		-		-		653,764
Stone, Clay, And Glass Products		19,164,123		-		-		19,164,123
Textile Mill Products		528,024		-		-		528,024
Tobacco Products		31,433,749		-		-		31,433,749
Transportation By Air		21,751,200		-		-		21,751,200
Transportation Equipment		111,035,484		-		-		111,035,484
Transportation Services		6,698,633		-		-		6,698,633
Trucking And Warehousing		13,385,817		-		-		13,385,817
Water Transportation		4,723,377		-		-		4,723,377
Wholesale Trade-Durable Goods		6,564,695		-		-		6,564,695
Wholesale Trade-Nondurable Goods		28,472,253		-		-		28,472,253
Foreign Common Stocks		265,926,095		6,421,380,070		-		6,687,306,165
Rights / Warrants		161,786		1,292,281		-		1,454,067
Short-term Investments		-		689,011,068		-		689,011,068
Total	$	6,217,121,731		7,111,683,419		-	$	13,328,805,150
Growth
Domestic Common Stocks	$	10,327,323,651	$	-	$	-	$	10,327,323,651
Foreign Common Stocks
Business Services		43,878,503		-		-		43,878,503
Chemicals and Allied Products		164,080,974		16,670,240		-		180,751,214
Electronic and Other Electric Equipment		39,477,031		5,240,653		-		44,717,684
Engineering And Management Services		40,505,972		-		-		40,505,972
Food and Kindred Products		-		13,635,440		-		13,635,440
Hotels and Other Lodging Places		-		672,169		-		672,169
Metal Mining		44,398,586		8,520,470		-		52,919,056
Oil and Gas Extraction		13,180,139		17,620,678		-		30,800,817
Petroleum and Coal Products		8,515,722		-		-		8,515,722
Primary Metal Industries		-		11,117,148		-		11,117,148
Tobacco Products		135,389,777		-		-		135,389,777
Transportation By Air		1,448,461		-		-		1,448,461
Water Transportation		457,367		-		-		457,367
Short-term Investments		-		124,638,120		-		124,638,120
Futures *		1,884,489		-		-		1,884,489
Total	$	10,820,540,672		198,114,918		-	$	11,018,655,590
Equity Index
Domestic Common Stocks	$	8,886,397,320	$	-	$	-	$	8,886,397,320
Short-term Investments		-		1,399,853		-		1,399,853
Futures *		206,534		-		-		206,534
Total		8,886,603,854		1,399,853		-	$	8,888,003,707
Bond Market
Corporate Bonds	$	-	$	3,122,471,831	$	-	$	3,122,471,831
Government Bonds		-		6,188,725,695		-		6,188,725,695
Municipal Bonds		-		2,093,980				2,093,980
Mutual Funds		4,719,757		-				4,719,757
Structured Assets		-		687,040,444		-		687,040,444
Preferred Stocks		3,310,349		-		-		3,310,349
Short-term Investments		-		1,003,324,965		-		1,003,324,965
Total	$	8,030,106		11,003,656,915		-	$	11,011,687,021
Social Choice
Corporate Bonds	$	-	$	964,537,035	$	-	$	964,537,035
Government Bonds		-		1,872,509,557		-		1,872,509,557
Municipal Bonds		-		128,085,378		-		128,085,378
Structured Assets		-		211,373,049		-		211,373,049
Domestic Common Stocks		3,869,760,361		-		-		3,869,760,361
Foreign Common Stocks
Apparel And Accessory Stores		-		9,392,342		-		9,392,342
Automotive Dealers And Service Stations		-		1,799,455		-		1,799,455
Building Materials And Garden Supplies		-		895,528		-		895,528
Business Services		-		22,205,238		-		22,205,238
Chemicals And Allied Products		-		135,503,104		-		135,503,104
Communications		-		59,178,155		-		59,178,155
Depository Institutions		-		176,282,653		-		176,282,653
Eating And Drinking Places		-		2,662,518		-		2,662,518
Educational Services		-		1,504,818		-		1,504,818
Electric, Gas, And Sanitary Services		-		70,581,152		-		70,581,152
Electronic And Other Electric Equipment		-		38,595,702		-		38,595,702
Engineering And Management Services		-		26,914,521		-		26,914,521
Fabricated Metal Products		-		3,207,832		-		3,207,832
Food And Kindred Products		-		27,305,464		-		27,305,464
Food Stores		-		23,798,592		-		23,798,592
General Building Contractors		-		12,277,314		-		12,277,314
General Merchandise Stores		-		9,065,445		-		9,065,445
Heavy Construction, Except Building		-		6,012,693		-		6,012,693
Holding And Other Investment Offices		-		1,438,550		-		1,438,550
Hotels And Other Lodging Places		-		7,301,991		-		7,301,991

423

Account	Level 1		Level 2		Level 3		Total
Industrial Machinery And Equipment		-		32,180,672		-		32,180,672
Instruments And Related Products		-		11,725,371		-		11,725,371
Insurance Agents, Brokers And Service		-		5,492,115		-		5,492,115
Insurance Carriers		-		49,605,185		-		49,605,185
Local and Interurban Passenger Transit		-		1,587,322		-		1,587,322
Metal Mining		-		26,753,620		-		26,753,620
Miscellaneous Manufacturing Industries		-		1,459,932		-		1,459,932
Miscellaneous Retail		-		9,093,633		-		9,093,633
Nonmetallic Minerals, Except Fuels		-		3,655,147		-		3,655,147
Oil And Gas Extraction		-		27,845,634		-		27,845,634
Paper And Allied Products		-		6,305,542		-		6,305,542
Petroleum And Coal Products		-		77,491,923		-		77,491,923
Pipelines, Except Natural Gas		-		4,522,474		-		4,522,474
Primary Metal Industries		-		18,999,478		-		18,999,478
Printing And Publishing		-		19,560,818		-		19,560,818
Railroad Transportation		-		10,102,007		-		10,102,007
Real Estate		-		25,615,541		-		25,615,541
Rubber And Miscellaneous Plastic Products		-		6,078,107		-		6,078,107
Security And Commodity Brokers		-		21,109,824		-		21,109,824
Stone, Clay, And Glass Products		-		19,535,475		-		19,535,475
Tobacco Products		-		3,122,363		-		3,122,363
Transportation Equipment		-		49,588,423		-		49,588,423
Transportation Services		-		5,910,451		-		5,910,451
Trucking And Warehousing		-		11,452,673		-		11,452,673
Water Transportation		-		2,021,066		-		2,021,066
Wholesale Trade-Durable Goods		-		28,191,500		-		28,191,500
Wholesale Trade-Nondurable Goods		-		15,736,151		-		15,736,151
Preferred Stocks		1,614,934		-		-		1,614,934
Rights / Warrants		136,330		-		-		136,330
Short-term Investments		-		587,798,598		-		587,798,598
Total	$	3,871,511,625		4,894,969,131		-	$	8,766,480,756

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value:

Stock
		Investments in
		Securities
Balance as of (December 31, 2008)	$	14,829,327
Realized Gain/Loss		-
Change in Unrealized Appreciation/Depreciation		(2,104,199	)
Gross Purchases		(98,487	)
Gross Sales		-
Transfers into Level 3		-
Transfers out of Level 3		(4,956	)
Balance as of (September 30, 2009)	$	12,621,685

Equity Index
		Investments in
		Securities
Balance as of (December 31, 2008)	$	341
Realized Gain/Loss		-
Change in Unrealized Appreciation/Depreciation		7,502
Gross Purchases		-
Gross Sales		-
Transfers into Level 3		-
Transfers out of Level 3		(7,843	)
Balance as of (September 30, 2009)	$	-

*	Futures contracts are derivatives instruments not reflected in the schedule of investments.
	They are valued at the unrealized appreciation/depreciation on the instrument.

424

Please see the Schedule of Investments for a detailed breakout by industry.

425

Item 2. Controls and Procedures.

          (a) An evaluation was performed within 90 days from the date hereof 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 quarterly reporting period.

          (b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s last fiscal quarter that materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer

3(b) Section 302 certification of the 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.

	COLLEGE RETIREMENT EQUITIES FUND
Date: November 18, 2009	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		President and Chief Executive Officer

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

Date: November 18, 2009	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		President and Chief Executive Officer
		(principal executive officer)
Date: November 18, 2009	By:	Georganne C. Proctor
		Georganne C. Proctor
		Executive Vice President and
		Chief Financial Officer
		(principal financial officer)

EXHIBIT LIST

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer (EX.99. Cert.)

3(b) Section 302 certification of the principal financial officer (EX.99.Cert.)

EX-99.CERT

Exhibit 3(a)

CERTIFICATION

I, Roger W. Ferguson, Jr., certify that:

1. I have reviewed this report on Form N-Q of the College Retirement Equities Fund;

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

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;

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

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

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

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

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

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

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

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

Date: November 18, 2009	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson. Jr.
		President and Chief Executive Officer
		(principal executive officer)

Exhibit 3(b)

CERTIFICATION

I, Georganne C. Proctor, certify that:

1. I have reviewed this report on Form N-Q of the College Retirement Equities Fund;

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

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;

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

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

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

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

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

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

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

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

Date: November 18, 2009	By:	Georganne C. Proctor
		Georganne C. Proctor
		Executive Vice President and
		Chief Financial Officer
		(principal financial officer)