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. 811-04415

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, 2010

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2010

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
BONDS - 0.0%
CORPORATE BONDS - 0.0%
AUTOMOBILES & COMPONENTS - 0.0%
$	40,684,487	n	General Motors Corp	7.200%	01/15/11	$	13,121
	18,507,434	n	General Motors Corp	7.130	07/15/13		5,969
	4,230,271	n	General Motors Corp	7.700	04/15/16		1,322
	6,062,000	n	General Motors Corp	9.400	07/15/21		1,894
	85,268,000	n	General Motors Corp	8.380	07/15/33		28,778
	26,439,191	n	Motors Liquidation Co	8.800	03/01/21		8,262
	7,950,000	n	Motors Liquidation Co	8.250	07/15/23		2,564
	24,057,000	n	Motors Liquidation Co	7.400	09/01/25		7,578
	35,983,677	n	Motors Liquidation Co	6.750	05/01/28		11,155
			TOTAL AUTOMOBILES & COMPONENTS				80,643
FOOD & STAPLES RETAILING - 0.0%
	8	i	Marfrig Alimentos S.A.	1.000	07/15/15		48
			TOTAL FOOD & STAPLES RETAILING				48
REAL ESTATE - 0.0%
	22,970		Kiwi Income Property Trust	8.950	12/20/14		18
			TOTAL REAL ESTATE				18
			TOTAL CORPORATE BONDS				80,709
			(Cost $86,291)
GOVERNMENT BONDS 0.0%
U.S. TREASURY SECURITIES - 0.0%
	325,000		United States Treasury Note	5.000	02/15/11		331
			TOTAL U.S. TREASURY SECURITIES				331
			TOTAL GOVERNMENT BONDS				331
			(Cost $325)
			TOTAL BONDS				81,040
			(Cost $86,616)

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.5%
AUTOMOBILES & COMPONENTS - 1.8%
	135,400		AAPICO Hitech PCL	$	65
	64,000	*	Aichi Machine Industry Co Ltd		217
	34,200	*	Aisan Industry Co Ltd		259
	712,645	*	Aisin Seiki Co Ltd		22,230
	109,000		Akebono Brake Industry Co Ltd		646
	2,754,934	*	American Axle & Manufacturing Holdings, Inc		24,850
	91,978	*	Amerigon, Inc (Class A)		947
	1,246,456	*	Autoliv, Inc		81,430
	130,098		Bajaj Holdings and Investment Ltd		4,256
	168,918	*	Ballard Power Systems, Inc		284
	565,880		Bayerische Motoren Werke AG.		39,683
	2,985		Bayerische Motoren Werke AG. (Preference)		139
	690,613	*	BorgWarner, Inc		36,340
	136,172		Brembo S.p.A.		1,363
	799,838		Bridgestone Corp		14,573
	770,400		Byd Co Ltd		6,191
	978,058	*	Calsonic Kansei Corp		3,081
	1,532,511		Cheng Shin Rubber Industry Co Ltd		3,375
	20,973		Compagnie Plastic-Omnium S.A.		1,115
	92,429	*	Continental AG.		7,183
	430,909		Cooper Tire & Rubber Co		8,459
	682,712	*	Daihatsu Motor Co Ltd		9,135
	2,339,438		DaimlerChrysler AG. (EUR)		148,172
	700,774	*	Dana Holding Corp		8,634
	1,339,926		Denso Corp		39,726
	5,587,215		Dongfeng Motor Group Co Ltd		11,435
	49,900	*	Dorman Products, Inc		1,538
	113,567	*	Drew Industries, Inc		2,369
	31,000	*	Eagle Industry Co Ltd		248
	46,179		ElringKlinger AG.		1,477
	64,882		Exedy Corp		1,949
	38,116		Exide Industries Ltd		139
	306,704	*	Exide Technologies		1,469
	46,649	*	Faurecia		1,094
	54,100		FCC Co Ltd		1,165
	237,021	*	Federal Mogul Corp (Class A)		4,482
	38,519		Fiat S.p.A.		594
	151,427		Fleetwood Corp Ltd		1,607
	18,026,313	*	Ford Motor Co		220,641
	74,921	*	Fuel Systems Solutions, Inc		2,930
	1,134,600	*	Fuji Heavy Industries Ltd		7,231
	17,000		Furukawa Battery Co Ltd		108
	105,897	*	Futaba Industrial Co Ltd		682
	5,605,000		Geely Automobile Holdings Ltd		2,781
	437,556		Gentex Corp		8,537
	2,528,002		GKN plc		6,727
	1,354,574	*	Goodyear Tire & Rubber Co		14,562
	6,460,181		Guangzhou Automobile Group Co Ltd		11,124
	125,120		Hankook Tire Co Ltd		3,616

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	811,179		Harley-Davidson, Inc	$	23,070
	106,211		Hero Honda Motors Ltd		4,392
	3,553,238		Honda Motor Co Ltd		126,117
	108,840		Hyundai Mobis		24,531
	279,366		Hyundai Motor Co		37,486
	75,243		Hyundai Motor Co Ltd (2nd Preference)		3,636
	41,280		Hyundai Motor Co Ltd (Preference)		1,919
	450,133		IMMSI S.p.A.		519
	3,296,585	*	Isuzu Motors Ltd		12,716
	3,661,738		Johnson Controls, Inc		111,682
	43,200	*	Kanto Auto Works Ltd		287
	311,896	*	Kayaba Industry Co Ltd		1,756
	189,700	*	Keihin Corp		3,904
	392,710		Kia Motors Corp		12,674
	86,000	*	Koito Manufacturing Co Ltd		1,319
	577,351	*	Kongsberg Automotive ASA		401
	73,795		Landi Renzo S.p.A.		375
	600	*,b,m	Lear Corp		0	^
	268,466	*	Lear Corp (New)		21,190
	39,753		Leoni AG.		1,348
	86,798		Linamar Corp		1,609
	75,022		Magna International, Inc - Class A (NY)		6,171
	203,312		Magna International, Inc (Class A)		16,683
	474,279		Mahindra & Mahindra Ltd		7,299
	110,082	*	Martinrea International, Inc		813
	96,438		Maruti Udyog Ltd		3,092
	499,663		Mazda Motor Corp		1,203
	168,796		Michelin (C.G.D.E.) (Class B)		12,843
	47,000	*	Mitsuba Corp		307
	3,044,694	*	Mitsubishi Motors Corp		3,975
	213,832	*	Modine Manufacturing Co		2,773
	34,300		Musashi Seimitsu Industry Co Ltd		804
	142,502		NGK Spark Plug Co Ltd		1,907
	255,258	*	NHK Spring Co Ltd		2,113
	114,751		Nifco, Inc		2,756
	63,000		Nippon Seiki Co Ltd		658
	5,584,421	*	Nissan Motor Co Ltd		48,767
	111,000		Nissan Shatai Co Ltd		803
	69,600		Nissin Kogyo Co Ltd		1,113
	150,000	*	NOK Corp		2,611
	4,947		Nokian Renkaat Oyj		170
	848,000	*,m	Norstar Founders Group Ltd		1
	3,433,002	*	Peugeot S.A.		115,433
	350,988		Piaggio & C S.p.A.		1,101
	42,509		Pirelli & C S.p.A.		346
	7,282		Porsche AG.		361
	191,000	*	Press Kogyo Co Ltd		673
	2,846,131		PT Astra International Tbk		18,081
	484,883	*	Renault S.A.		24,950
	4,236	*	Rieter Holding AG.		1,217
	156,000		Riken Corp		544
	254,000		Sanden Corp		1,044

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	29,129		Semperit AG. Holding	$	1,113
	11,457	*	Shiloh Industries, Inc		111
	90,600	*	Showa Corp		539
	8,701		Societe Fonciere Financiere et de Participations FFP		530
	263,295	*	Sogefi S.p.A.		829
	193,090		Spartan Motors, Inc		896
	190,169		Standard Motor Products, Inc		2,002
	182,610		Stanley Electric Co Ltd		2,909
	68,791	*	Stoneridge, Inc		723
	808,784		Sumitomo Rubber Industries, Inc		7,896
	87,306		Superior Industries International, Inc		1,509
	377,680	*	Suzuki Motor Corp		7,944
	2,345,653		T RAD Co Ltd		8,233
	28,800		Tachi-S Co Ltd		390
	53,000	*	Takata Corp		1,334
	26,700		Teikoku Piston Ring Co Ltd		212
	293,973	*	Tenneco, Inc		8,516
	30,700	*	Tesla Motors, Inc		622
	105,650		Thor Industries, Inc		3,529
	93,063	*	Tokai Rika Co Ltd		1,574
	61,800		Tokai Rubber Industries, Inc		670
	49,800		Topre Corp		370
	260,000		Toyo Tire & Rubber Co Ltd		542
	361,937	*	Toyoda Gosei Co Ltd		7,978
	74,126	*	Toyota Boshoku Corp		1,233
	202,673	*	Toyota Industries Corp		5,412
	4,531,387	*	Toyota Motor Corp		162,735
	759,154	*	TRW Automotive Holdings Corp		31,550
	61,500		TS Tech Co Ltd		1,023
	2,022,441		UMW Holdings BHD		4,435
	46,100		Unipres Corp		763
	869,251	*	Valeo S.A.		40,272
	110,329		Volkswagen AG.		12,157
	270,238		Volkswagen AG. (Preference)		32,615
	117,101	*	Winnebago Industries, Inc		1,220
	2,328,000		Xinyi Glass Holdings Co Ltd		1,437
	316,491	*	Yamaha Motor Co Ltd		4,750
	512,000		Yokohama Rubber Co Ltd		2,570
	19,100	*	Yorozu Corp		319
	977,258		Yulon Motor Co Ltd		1,764
			TOTAL AUTOMOBILES & COMPONENTS		1,807,627
BANKS - 6.3%
	91,158		1st Source Corp		1,583
	85,078	*	1st United Bancorp, Inc		547
	674,851		77 Bank Ltd		3,420
	45,179	*	Aareal Bank AG.		1,005
	107,954		Abington Bancorp, Inc		1,138
	459,950		ABSA Group Ltd		8,842
	32,137,000	*	Agricultural Bank of China		16,651
	329,957	*	Agricultural Bank of Greece		418
	10,600		Aichi Bank Ltd		665

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,959,707		Akbank TAS	$	11,989
	269,000		Akita Bank Ltd		899
	21,697		Alliance Financial Corp		656
	1,220,400		Alliance Financial Group BHD		1,222
	1,252,927	*	Allied Irish Banks plc		866
	52,297	*	Alpha Bank S.A.		328
	315,270	*	Amagerbanken AS		178
	28,878		American National Bankshares, Inc		634
	107,311		Ameris Bancorp		1,003
	37,650		Ames National Corp		751
	541,290	*,m	Anglo Irish Bank Corp plc		160
	569,000		Aomori Bank Ltd		1,438
	6,974,000		Aozora Bank Ltd		10,276
	50,786		Arrow Financial Corp		1,274
	354,877		Associated Banc-Corp		4,681
	467,733		Astoria Financial Corp		6,375
	614,409		Asya Katilim Bankasi AS		1,478
	78,184		Attijariwafa Bank		3,118
	4,039,133		Australia & New Zealand Banking Group Ltd		92,447
	284,721		Awa Bank Ltd		1,971
	41,261		Banca Carige S.p.A.		96
	12,347,067		Banca Intesa S.p.A.		40,103
	3,631,907		Banca Intesa S.p.A. RSP		9,353
	464,390		Banca Monte dei Paschi di Siena S.p.A.		643
	123,934		Banca Popolare dell’Etruria e del Lazio		558
	27,368		Banca Popolare di Milano		131
	32,040		Bancfirst Corp		1,296
	120,474		Banche Popolari Unite Scpa		1,168
	6,979,246		Banco Bilbao Vizcaya Argentaria S.A.		94,241
	385,576		Banco BPI S.A.		822
	3,227,898		Banco Bradesco S.A.		64,711
	184,017		Banco Comercial Portugues S.A.		160
	60,380		Banco de Credito e Inversiones		3,621
	1,904,400		Banco de Oro Universal Bank		2,617
	246,713		Banco de Sabadell S.A.		1,236
	23,765		Banco de Valencia S.A.		135
	128,730		Banco di Desio e della Brianza S.p.A.		691
	9,367		Banco di Sardegna S.p.A		121
	1,091,476		Banco do Brasil S.A.		20,726
	534,981		Banco do Estado do Rio Grande do Sul		5,388
	55,203		Banco Espirito Santo S.A.		255
	3,630,281	*	Banco Itau Holding Financeira S.A.		86,831
	118,531		Banco Latinoamericano de Exportaciones S.A. (Class E)		1,713
	167,172		Banco Pastor S.A.		855
	44,488		Banco Popolare Scarl		266
	113,837		Banco Popular Espanol S.A.		722
	827,980		Banco Santander Brasil S.A.		11,157
	1,356,019		Banco Santander Brasil S.A. (ADR)		18,672
	20,427,217		Banco Santander Central Hispano S.A.		259,454
	65,833,585		Banco Santander Chile S.A.		6,125
	294,352		BanColombia S.A.		4,800

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	58,800		BanColombia S.A. (ADR)	$	3,859
	122,926		BanColombia S.A. (Preference)		2,033
	13,088		Bancorp Rhode Island, Inc		366
	175,208		Bancorpsouth, Inc		2,484
	108,500		Bangkok Bank PCL		558
	1,888,400		Bangkok Bank PCL (Foreign Reg)		10,049
	178,564		Banif SGPS S.A.		248
	58,186		Bank Handlowy w Warszawie S.A.		1,754
	1,173,913	*	Bank Hapoalim Ltd		5,373
	1,504,663	*	Bank Leumi Le-Israel		6,990
	506,974	*	Bank Millennium S.A.		876
	222,253		Bank Mutual Corp		1,153
	13,033,000		Bank Negara Indonesia PT		5,367
	162,870	*	Bank of Attica		229
	2,285,600		Bank of Ayudhya PCL		1,883
	98,502,000		Bank of China Ltd		51,670
	13,006,225		Bank of Communications Co Ltd		14,064
	256,861		Bank of Cyprus Public Co Ltd		1,296
	1,167,422		Bank of East Asia Ltd		4,943
	193,131		Bank of Hawaii Corp		8,675
	241,680	*	Bank of Ireland		204
	20,000		Bank of Iwate Ltd		879
	564,519		Bank of Kyoto Ltd		4,578
	26,368		Bank of Marin Bancorp		850
	1,088,001		Bank of Montreal		62,897
	248,000		Bank of Nagoya Ltd		784
	2,070,335		Bank of Nova Scotia		110,509
	42,200		Bank of Okinawa Ltd		1,575
	872,662		Bank of Queensland Ltd		9,447
	327,541		Bank of Saga Ltd		946
	68,820		Bank of the Ozarks, Inc		2,553
	2,592,169		Bank of the Philippine Islands		3,219
	74,000		Bank of the Ryukyus Ltd		902
	1,302,371		Bank of Yokohama Ltd		6,084
	169,112		Bank Pekao S.A.		10,006
	8,037,500		Bank Rakyat Indonesia		9,006
	54,445		Bank Zachodni WBK S.A.		4,031
	105,167		BankFinancial Corp		964
	19,754		Bankinter S.A.		137
	6,216		Banque Cantonale Vaudoise		3,185
	32,200,587		Barclays plc		151,549
	9,311		Basler Kantonalbank		1,341
	1,992,144		BB&T Corp		47,971
	566,111		Bendigo Bank Ltd		5,007
	190,022	*	Beneficial Mutual Bancorp, Inc		1,704
	65,798		Berkshire Hills Bancorp, Inc		1,248
	2,595,380		BNP Paribas		184,585
	6,644,075		BOC Hong Kong Holdings Ltd		21,066
	23,910	*	BofI Holding, Inc		284
	49,414		BOK Financial Corp		2,230
	389,911		Boston Private Financial Holdings, Inc		2,550
	266,825	*,m	Bradford & Bingley plc		0	^

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,211	*	BRE Bank S.A.	$	1,619
	29,752		Bridge Bancorp, Inc		744
	289,162		Brookline Bancorp, Inc		2,886
	38,881		Bryn Mawr Bank Corp		670
	5,975,896		Bumiputra-Commerce Holdings BHD		15,816
	215,898		Caja de Ahorros del Mediterraneo		2,075
	43,654		Camden National Corp		1,513
	670,107		Canadian Imperial Bank of Commerce/Canada		48,618
	105,276		Canadian Western Bank		2,542
	68,217		Capital City Bank Group, Inc		828
	1,577,855		CapitalSource, Inc		8,426
	40,559		Capitol Federal Financial		1,002
	205,883		Cardinal Financial Corp		1,979
	399,368		Cathay General Bancorp		4,748
	156,924	*	Center Financial		799
	89,934		Centerstate Banks of Florida, Inc		772
	19,768		Century Bancorp, Inc		472
	5,463,000		Chang Hwa Commercial Bank		3,655
	126,605		Chemical Financial Corp		2,613
	2,526,938		Chiba Bank Ltd		14,741
	48,800	*	Chiba Kogyo Bank Ltd		290
	10,350,855		China Citic Bank		6,604
	77,542,291		China Construction Bank		67,960
	13,280,767		China Development Financial Holding Corp		3,851
	5,928,122		China Merchants Bank Co Ltd		15,281
	10,822,000		China Minsheng Banking Corp Ltd		9,694
	14,572,153		Chinatrust Financial Holding Co		9,189
	226,000		Chong Hing Bank Ltd		553
	123,000		Chugoku Bank Ltd		1,496
	195,000		Chukyo Bank Ltd		612
	953,895	*	CIT Group, Inc		38,938
	53,667		Citizens & Northern Corp		698
	1,875,845	*	Citizens Republic Bancorp, Inc		1,690
	84,142		City Holding Co		2,581
	137,747		City National Corp		7,310
	45,018		Clifton Savings Bancorp, Inc		387
	41,612		CNB Financial Corp		572
	154,346		CoBiz, Inc		858
	193,764		Columbia Banking System, Inc		3,807
	51,463		Comdirect Bank AG.		459
	842,751		Comerica, Inc		31,308
	234,380		Commerce Bancshares, Inc		8,810
	848,466		Commercial International Bank		6,394
	233,635	*	Commerzbank AG.		1,936
	2,180,458		Commonwealth Bank of Australia		107,842
	167,453		Community Bank System, Inc		3,853
	83,664		Community Trust Bancorp, Inc		2,266
	110,357		Credicorp Ltd (NY)		12,570
	189,332		Credit Agricole S.A.		2,959
	126,115		Credito Emiliano S.p.A.		860
	173,845		Cullen/Frost Bankers, Inc		9,365
	456,260		CVB Financial Corp		3,427

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	171,780		Daegu Bank	$	2,260
	486,000		Dah Sing Banking Group Ltd		916
	163,200		Dah Sing Financial Holdings Ltd		1,262
	668,000		Daishi Bank Ltd		2,249
	31,592	*	Danske Bank AS		762
	100,681		Danvers Bancorp, Inc		1,543
	3,191,257		DBS Group Holdings Ltd		34,167
	6,150	*	Deutsche Postbank AG.		209
	166,775	*	Dexia		735
	155,522		Dhanalakshmi Bank Ltd		644
	148,612		Dime Community Bancshares		2,058
	176,866		DNB NOR Holding ASA		2,407
	130,342	*	Doral Financial Corp		216
	5,004,140		E.Sun Financial Holding Co Ltd		2,595
	61,482	*	Eagle Bancorp, Inc		706
	632,482		East West Bancorp, Inc		10,297
	22,503	*	EFG Eurobank Ergasias S.A.		136
	201,904		Ehime Bank Ltd		537
	457,000		Eighteenth Bank Ltd		1,259
	27,318	*	Encore Bancshares, Inc		196
	70,981		Enterprise Financial Services Corp		660
	54,851		Erste Bank der Oesterreichischen Sparkassen AG.		2,196
	43,068		ESB Financial Corp		600
	70,464		ESSA Bancorp, Inc		834
	49,194		Federal Agricultural Mortgage Corp (Class C)		532
	11,718	*	FIBI Holdings Ltd		251
	311,000		FIDEA Holdings Co Ltd		697
	3,577,946		Fifth Third Bancorp		43,043
	59,435		Financial Institutions, Inc		1,050
	4,960	*,m	Fionia Bank AS		0	^
	104,916		First Bancorp (NC)		1,429
	426,848	*	First Bancorp (Puerto Rico)		120
	49,881		First Bancorp, Inc		690
	287,088		First Busey Corp		1,306
	14,080		First Citizens Bancshares, Inc (Class A)		2,609
	455,318		First Commonwealth Financial Corp		2,481
	65,928		First Community Bancshares, Inc		850
	335,629		First Financial Bancorp		5,598
	112,668		First Financial Bankshares, Inc		5,294
	62,379		First Financial Corp		1,840
	7,071,131		First Financial Holding Co Ltd		4,685
	112,413		First Financial Holdings, Inc		1,252
	728,273	*	First Horizon National Corp		8,310
	60,778		First Interstate Bancsystem, Inc		818
	144,209		First Merchants Corp		1,100
	373,629		First Midwest Bancorp, Inc		4,308
	517,205		First Niagara Financial Group, Inc		6,025
	26,571		First of Long Island Corp		664
	44,550		First South Bancorp, Inc		442
	529,298		FirstMerit Corp		9,697
	303,528	*	Flagstar Bancorp, Inc		552
	164,963		Flushing Financial Corp		1,907

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	592,829		FNB Corp	$	5,075
	27,117	*	Fox Chase Bancorp, Inc		257
	2,128,000		Fubon Bank Hong Kong Ltd		1,072
	689,000		Fukui Bank Ltd		2,352
	430,659		Fukuoka Financial Group, Inc		1,723
	408,849		Fulton Financial Corp		3,704
	23,285	*	Geniki Bank		68
	62,657		German American Bancorp, Inc		1,075
	383,866	*	Getin Holding S.A.		1,426
	362,984		Glacier Bancorp, Inc		5,300
	67,129		Great Southern Bancorp, Inc		1,461
	218,206	*	Greek Postal Savings Bank		1,220
	59,620	*	Greene County Bancshares, Inc		405
	2,096,298		Grupo Financiero Banorte S.A. de C.V.		7,937
	1,207,066		Grupo Financiero Inbursa S.A.		4,780
	441,974		Gunma Bank Ltd		2,314
	312,500		Hachijuni Bank Ltd		1,632
	348,910		Hana Financial Group, Inc		10,327
	151,989		Hancock Holding Co		4,570
	848,175		Hang Seng Bank Ltd		12,473
	320,212	*	Hanmi Financial Corp		410
	441,226		HDFC Bank Ltd		24,443
	71,565		Heartland Financial USA, Inc		1,101
	37,382	*	Heritage Financial Corp		523
	3,509		Heritage Financial Group		30
	188,000		Higashi-Nippon Bank Ltd		349
	360,000		Higo Bank Ltd		1,889
	176,132		Hiroshima Bank Ltd		717
	428,000		Hokkoku Bank Ltd		1,707
	340,000		Hokuetsu Bank Ltd		611
	542,539		Hokuhoku Financial Group, Inc		994
	38,138	*	Home Bancorp, Inc		510
	101,760		Home Bancshares, Inc		2,068
	61,369		Home Capital Group, Inc		2,654
	79,287		Home Federal Bancorp, Inc		965
	929,000		Hong Leong Bank BHD		2,742
	234,612		Hong Leong Credit BHD		689
	1,663,728		Housing Development Finance Corp		27,146
	27,632,305		HSBC Holdings plc		279,978
	5,487,412		Hua Nan Financial Holdings Co Ltd		3,566
	1,348,889		Hudson City Bancorp, Inc		16,536
	43,694		Hudson Valley Holding Corp		853
	14,021,989		Huntington Bancshares, Inc		79,505
	531,692		Hyakugo Bank Ltd		2,287
	339,000		Hyakujushi Bank Ltd		1,287
	146,201		IBERIABANK Corp		7,307
	1,158,419		ICICI Bank Ltd		28,692
	12,800		ICICI Bank Ltd (ADR)		638
	110,334		Independent Bank Corp		2,485
	89,295,000		Industrial & Commercial Bank of China		66,521
	405,750		Industrial Bank Of Korea		5,551
	200	*,b	IndyMac Bancorp, Inc		0	^

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,486		ING Bank Slaski S.A.	$	1,557
	773,370		ING Vysya Bank Ltd		6,547
	271,934		International Bancshares Corp		4,593
	3,313,762		Investimentos Itau S.A. - PR		25,304
	257,483	*	Investors Bancorp, Inc		3,049
	662,027	*	Israel Discount Bank Ltd		1,313
	248,350	*	Itau Unibanco Banco Multiplo S.A. (ADR)		6,005
	78,683		Iyo Bank Ltd		638
	1,194,778		Joyo Bank Ltd		5,210
	416,555		Juroku Bank Ltd		1,377
	93,293	*	Jyske Bank		3,638
	209,000		Kagoshima Bank Ltd		1,277
	430,000		Kansai Urban Banking Corp		649
	104,000	*	Kanto Tsukuba Bank Ltd		328
	1,088,200		Kasikornbank PCL		4,195
	21,600		Kasikornbank PCL - NVDR		83
	1,799,700		Kasikornbank PCL (Foreign)		7,353
	802,936		KB Financial Group, Inc		34,505
	25,272	*	KBC Groep NV		1,134
	87,519		Kearny Financial Corp		773
	370,000		Keiyo Bank Ltd		1,835
	2,669,466		Keycorp		21,249
	7,643		K-Fed Bancorp		60
	921,000		Kiyo Holdings, Inc		1,291
	37,023		Komercni Banka A.S.		8,075
	2,241,520		Korea Exchange Bank		27,128
	4,543,200		Krung Thai Bank PCL		2,530
	106,298		Lakeland Bancorp, Inc		896
	91,459		Lakeland Financial Corp		1,707
	39,452		Laurentian Bank of Canada		1,679
	25,155		Liechtenstein Landesbank		1,692
	20,244,539	*	Lloyds TSB Group plc		23,572
	153,339		M&T Bank Corp		12,545
	138,211		MainSource Financial Group, Inc		1,056
	6,594,550		Malayan Banking BHD		18,799
	987,025		Marfin Popular Bank Public Co Ltd		1,991
	3,171,554		Marshall & Ilsley Corp		22,328
	264,252		MB Financial, Inc		4,286
	16,967,360		Mega Financial Holding Co Ltd		11,405
	23,146		Merchants Bancshares, Inc		577
	51,021	*	Meridian Interstate Bancorp, Inc		538
	1,153,370		Metropolitan Bank & Trust		1,838
	1,175,480	*	MGIC Investment Corp		10,850
	188,000		Michinoku Bank Ltd		410
	28,069		Midsouth Bancorp, Inc		397
	19,678		MidWestOne Financial Group, Inc		288
	217,000		Mie Bank Ltd		606
	571,000		Minato Bank Ltd		910
	29,736,146		Mitsubishi UFJ Financial Group, Inc		138,564
	4,724,245		Mitsui Trust Holdings, Inc		15,676
	485,000		Miyazaki Bank Ltd		1,325
	145,700		Mizrahi Tefahot Bank Ltd		1,350

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	23,174,800		Mizuho Financial Group, Inc	$	33,868
	823,655	*	Mizuho Trust & Banking Co Ltd		691
	46,868		Musashino Bank Ltd		1,445
	319,928		Nanto Bank Ltd		1,866
	190,540	*	Nara Bancorp, Inc		1,345
	19,112		NASB Financial, Inc		316
	4,522,920		National Australia Bank Ltd		110,777
	208,660		National Bank of Canada		13,168
	1,174,365	*	National Bank of Greece S.A.		11,479
	39,689		National Bankshares, Inc		1,024
	616,091		National Penn Bancshares, Inc		3,851
	94,218	*	Natixis		539
	176,986		NBT Bancorp, Inc		3,906
	255,764		Nedbank Group Ltd		5,412
	883,169		New York Community Bancorp, Inc		14,351
	529,995		NewAlliance Bancshares, Inc		6,689
	294,854		Nishi-Nippon City Bank Ltd		844
	1,696,594		Nordea Bank AB		17,670
	84,144		Northfield Bancorp, Inc		910
	544,128		Northwest Bancshares, Inc		6,089
	63,377		OceanFirst Financial Corp		778
	359,686	*	Ocwen Financial Corp		3,647
	779,000		Ogaki Kyoritsu Bank Ltd		2,389
	263,000		Oita Bank Ltd		863
	433,381		Old National Bancorp		4,551
	40,410	*	OmniAmerican Bancorp, Inc		455
	173,849		Oriental Financial Group, Inc		2,312
	215,074		Oritani Financial Corp		2,146
	33,401		Orrstown Financial Services, Inc		774
	376,669	*	OTP Bank Rt		9,889
	52		Otzar Hityashvuth Hayehudim		128
	3,150,957		Oversea-Chinese Banking Corp		21,204
	71,400		Pacific Continental Corp		646
	164,939		PacWest Bancorp		3,144
	911,192		Paragon Group of Cos plc		2,342
	63,735		Park National Corp		4,082
	47,124		Peapack Gladstone Financial Corp		555
	18,234		Penns Woods Bancorp, Inc		603
	56,591	*	Pennsylvania Commerce Bancorp, Inc		588
	63,256		Peoples Bancorp, Inc		782
	1,193,153		People’s United Financial, Inc		15,618
	290,549		Piccolo Credito Valtellinese Scarl		1,335
	188,915	*	Pinnacle Financial Partners, Inc		1,736
	22,563	*	Piraeus Bank S.A.		112
	593,894	*	PMI Group, Inc		2,180
	2,825,871		PNC Financial Services Group, Inc		146,691
	2,138,322	*	Popular, Inc		6,201
	8,876		Porter Bancorp, Inc		89
	898,182		Powszechna Kasa Oszczednosci Bank Polski S.A.		13,608
	266,946		PrivateBancorp, Inc		3,041
	230,470		Prosperity Bancshares, Inc		7,483
	303,016		Provident Financial Services, Inc		3,745

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	186,846		Provident New York Bancorp	$	1,568
	17,767,500		PT Bank Central Asia Tbk		13,338
	4,155,093		PT Bank Danamon Indonesia Tbk		2,700
	11,850,500		PT Bank Mandiri Persero Tbk		9,560
	78,973		Public Bank BHD		321
	1,978,911		Public Bank BHD (Foreign)		7,975
	257,037		Pusan Bank		3,167
	615,997		Radian Group, Inc		4,817
	54,026		Raiffeisen International Bank Holding AG.		2,519
	5,091,746		Regions Financial Corp		37,017
	145,154		Renasant Corp		2,208
	71,618		Republic Bancorp, Inc (Class A)		1,513
	305,500		Resona Holdings, Inc		2,741
	710,200		RHB Capital BHD		1,663
	39,906		Rockville Financial, Inc		459
	40,673		Roma Financial Corp		428
	5,200	*,m	Roskilde Bank		0	^
	135,601		Royal Bank of Canada		7,069
	2,127,725		Royal Bank of Canada (Toronto)		110,822
	17,611,531	*	Royal Bank of Scotland Group plc		13,061
	132,270		S&T Bancorp, Inc		2,304
	56,669		S.Y. Bancorp, Inc		1,407
	102,964		Sandy Spring Bancorp, Inc		1,596
	219,000		San-In Godo Bank Ltd		1,569
	97,800		Sapporo Hokuyo Holdings, Inc		452
	142,311	f	Sberbank (GDR)		43,651
	79,744		SCBT Financial Corp		2,487
	524,400		Senshu Ikeda Holdings, Inc		785
	202		SEVEN BANK Ltd		362
	320,000		Shiga Bank Ltd		1,871
	343,000		Shikoku Bank Ltd		1,113
	10,600		Shimizu Bank Ltd		448
	851,284		Shinhan Financial Group Co Ltd		32,588
	1,800,126		Shinsei Bank Ltd		1,272
	961,234		Shizuoka Bank Ltd		8,279
	2,013,100		Siam Commercial Bank PCL		6,865
	56,800		Sierra Bancorp		701
	177,693	*	Signature Bank		6,902
	93,001		Simmons First National Corp (Class A)		2,629
	7,870,947		SinoPac Financial Holdings Co Ltd		2,948
	438,863		Skandinaviska Enskilda Banken AB (Class A)		3,254
	2,319,411		Societe Generale		133,592
	96,855		Southside Bancshares, Inc		1,830
	116,784		Southwest Bancorp, Inc		1,515
	205,864		Sparebanken Midt-Norge		1,715
	3,501		St Galler Kantonalbank		1,625
	1,977,415		Standard Bank Group Ltd		31,490
	1,626,062		Standard Chartered plc		46,643
	6,200		Standard Chartered plc (Hong Kong)		183
	87,074		State Bancorp, Inc		782
	47,767		State Bank of India Ltd		3,445
	37,282	f	State Bank of India Ltd (GDR)		5,343

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	113,029		StellarOne Corp	$	1,438
	190,345		Sterling Bancorp		1,654
	442,903		Sterling Bancshares, Inc		2,378
	42,016		Suffolk Bancorp		1,064
	3,274,210		Sumitomo Mitsui Financial Group, Inc		95,387
	2,044,475		Sumitomo Trust & Banking Co Ltd		10,237
	1,463,155		SunTrust Banks, Inc		37,793
	1,226,124		Suruga Bank Ltd		10,810
	641,649		Susquehanna Bancshares, Inc		5,416
	201,340	*	SVB Financial Group		8,521
	716,584		Svenska Handelsbanken (A Shares)		23,484
	147,949		Swedbank AB (A Shares)		2,051
	119,513	*	Sydbank AS		2,785
	2,769,949		Synovus Financial Corp		6,814
	7,206,410	*	Taishin Financial Holdings Co Ltd		3,229
	3,882,568	*	Taiwan Business Bank		1,183
	4,917,115		Taiwan Cooperative Bank		3,494
	40,758	*	Taylor Capital Group, Inc		467
	2,754,569		TCF Financial Corp		44,596
	68,558		Territorial Bancorp, Inc		1,154
	164,513	*	Texas Capital Bancshares, Inc		2,841
	165,576		TFS Financial Corp		1,522
	89,906	*	The Bancorp, Inc		601
	124,800	*	Tisco Bank PCL		163
	176,000		Tochigi Bank Ltd		742
	367,000		Toho Bank Ltd		1,038
	41,500		Tokyo Tomin Bank Ltd		457
	271,000	*	Tomony Holdings, Inc		870
	51,888		Tompkins Trustco, Inc		2,058
	1,684,036		Toronto-Dominion Bank		121,855
	309,000	*	Towa Bank Ltd		267
	21,352		Tower Bancorp, Inc		433
	102,233		TowneBank		1,529
	296	*	Tree.com, Inc		2
	72,683		Trico Bancshares		1,117
	421,521		Trustco Bank Corp NY		2,344
	351,645		Trustmark Corp		7,645
	3,621,763		Turkiye Garanti Bankasi AS		21,031
	686,318		Turkiye Halk Bankasi AS		6,358
	2,992,012		Turkiye Is Bankasi (Series C)		12,721
	1,070,093		Turkiye Vakiflar Bankasi Tao		3,255
	164,520		UMB Financial Corp		5,842
	570,311		Umpqua Holdings Corp		6,467
	16,507,637		UniCredito Italiano S.p.A.		42,150
	31,330	*	Union Bank of Israel		144
	81,489		Union Bankshares Corp		1,064
	189,573		United Bankshares, Inc		4,718
	515,379	*	United Community Banks, Inc		1,154
	83,313		United Financial Bancorp, Inc		1,126
	2,783,149		United Overseas Bank Ltd		38,771
	72,628		Univest Corp of Pennsylvania		1,268
	14,618,614		US Bancorp		316,053

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	360,380		UTI Bank Ltd	$	12,324
	384,960		Valley National Bancorp		4,966
	67,458		ViewPoint Financial Group		624
	79,748	*	Virginia Commerce Bancorp		388
	1,189,966	f	VTB Bank OJSC (GDR)		6,848
	57,623		Washington Banking Co		799
	228,688		Washington Federal, Inc		3,490
	62,558		Washington Trust Bancorp, Inc		1,196
	51,035	*	Waterstone Financial, Inc		204
	316,806		Webster Financial Corp		5,563
	31,787,671		Wells Fargo & Co		798,823
	120,705		WesBanco, Inc		1,972
	88,023	*	West Bancorporation, Inc		555
	443,826	*	West Coast Bancorp		1,012
	142,930		Westamerica Bancorporation		7,788
	288,741	*	Western Alliance Bancorp		1,935
	142,555		Westfield Financial, Inc		1,112
	3,505,516		Westpac Banking Corp		78,743
	451,986		Whitney Holding Corp		3,693
	192,851		Wilmington Trust Corp		1,732
	96,858		Wilshire Bancorp, Inc		633
	157,127		Wing Hang Bank Ltd		1,884
	161,250		Wintrust Financial Corp		5,226
	443,680		Woori Finance Holdings Co Ltd		5,525
	25,591		WSFS Financial Corp		960
	41,200		Yachiyo Bank Ltd		935
	195,000		Yamagata Bank Ltd		930
	352,691		Yamaguchi Financial Group, Inc		3,325
	226,000		Yamanashi Chuo Bank Ltd		907
	1,288,713	*	Yapi ve Kredi Bankasi		4,454
	518,214		Zions Bancorporation		11,069
			TOTAL BANKS		6,245,404
CAPITAL GOODS - 8.6%
	78,876	*	3D Systems Corp		1,239
	2,773,002		3M Co		240,448
	153,270		A.O. Smith Corp		8,873
	299,952	*	A123 Systems, Inc		2,691
	143,807		Aalberts Industries NV		2,368
	54,521		Aaon, Inc		1,282
	208,889	*	AAR Corp		3,898
	442,684		ABB Ltd		9,330
	49,764		ABB Ltd India		1,021
	56,826		Abengoa S.A.		1,439
	117,035		Aceto Corp		795
	61,457		ACS Actividades Cons y Servicios S.A.		3,068
	298,570		Actuant Corp (Class A)		6,855
	231,103		Acuity Brands, Inc		10,224
	414,785		Adani Enterprises Ltd		6,118
	62,540		Aditya Birla Nuvo Ltd		1,194
	168,000		Advan Co Ltd		1,214
	241,868	*	Advanced Battery Technologies, Inc		868

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	321,253	*	Aecom Technology Corp	$	7,794
	102,355		Aecon Group, Inc		1,192
	94,693	m	Aero Inventory plc		393
	68,952	*	Aerovironment, Inc		1,534
	20,800		AG Growth International Inc		811
	495,213	*	AGCO Corp		19,318
	123,199		Aica Kogyo Co Ltd		1,405
	40,500	*	Aichi Corp		160
	75,000	*	Aida Engineering Ltd		263
	269,795		Aircastle Ltd		2,288
	72,811		Alamo Group, Inc		1,626
	125,448		Albany International Corp (Class A)		2,373
	136,927		Alesco Corp Ltd		351
	1,543,998		Alfa Laval AB		27,053
	839,909		Alfa S.A. de C.V. (Class A)		6,482
	163,915	*	Alliant Techsystems, Inc		12,359
	15,689		Alstom RGPT		800
	146,709	*	Altra Holdings, Inc		2,161
	1,048,088		Amada Co Ltd		7,181
	161,200		Amano Corp		1,309
	19,800	*	Ameresco, Inc		236
	68,062	*	American Railcar Industries, Inc		1,067
	61,064		American Science & Engineering, Inc		4,497
	193,972	*	American Superconductor Corp		6,033
	40,285		American Woodmark Corp		714
	43,014		Ameron International Corp		2,923
	219,431		Ametek, Inc		10,482
	40,803		Ampco-Pittsburgh Corp		1,013
	34,000	*	Amrep Corp		0	^
	75,457		Andritz AG.		5,299
	6,340,000	*	Apac Resources Ltd		376
	177,367		Apogee Enterprises, Inc		1,623
	347,235	*	Applied Energetics, Inc		389
	262,355		Applied Industrial Technologies, Inc		8,028
	64,672		Applied Signal Technology, Inc		1,609
	104,078		Arcadis NV		2,332
	35,354	*	Argan, Inc		331
	65,066	*	Armstrong World Industries, Inc		2,701
	40,347	*	Armtec Infrastructure Income Fund		753
	464,184	*	ArvinMeritor, Inc		7,213
	74,000		Asahi Diamond Industrial Co Ltd		1,427
	2,392,704		Asahi Glass Co Ltd		24,391
	1,530,855		Ashtead Group plc		2,643
	1,681,758		Assa Abloy AB (Class B)		42,417
	175,769		Astaldi S.p.A.		1,264
	96,147	*	Astec Industries, Inc		2,743
	44,602	*	Astronics Corp		778
	321,016		Asunaro Aoki Construction Co Ltd		1,450
	10,536	*	A-TEC Industries AG.		97
	1,407,569		Atlas Copco AB (A Shares)		27,168
	67,348		Atlas Copco AB (B Shares)		1,185
	108,119	*	ATS Automation Tooling Systems, Inc		743

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	106,640		Ausenco Ltd	$	293
	1,483,846		Austal Ltd		3,514
	681,555		Aveng Ltd		4,253
	94,612		AZZ, Inc		4,053
	35,997		B&B Tools AB		537
	421,438	*	Babcock & Wilcox Co		8,968
	62,528		Badger Meter, Inc		2,531
	1,680,010		BAE Systems plc		9,034
	203,442		Baldor Electric Co		8,219
	8,218,454		Balfour Beatty plc		34,536
	110,000		Bando Chemical Industries Ltd		408
	216,664		Barnes Group, Inc		3,811
	13,060		Bauer AG.		535
	25,300		BayWa AG.		1,043
	300,633	*	BE Aerospace, Inc		9,112
	51,554		BE Group AB		338
	579	*	Beacon Power Corp		0	^
	196,796	*	Beacon Roofing Supply, Inc		2,867
	743,900		Beijing Enterprises Holdings Ltd		5,292
	26,294		Bekaert S.A.		6,938
	209,686		Belden CDT, Inc		5,532
	1,940,200	*	Berjaya Corp BHD		716
	3,298		Bharat Electronics Ltd		128
	203,994		Bharat Heavy Electricals		11,252
	492,051		Bidvest Group Ltd		10,388
	17,968	*	Biesse S.p.A.		136
	81,101		Bilfinger Berger AG.		5,590
	40,746		Bird Construction, Income Fund		1,485
	331,924	*	Blount International, Inc		4,225
	20,565	*	Bluelinx Holdings, Inc		82
	746,637		Boart Longyear Group		2,280
	12,311	*	Bobst Group AG.		545
	262,046		Bodycote plc		1,025
	4,673,128		Boeing Co		310,949
	3,050,630		Bombardier, Inc		14,973
	116,161		Boskalis Westminster		4,875
	50,900		Boustead Holdings Berhad		81
	314,875		Bouygues S.A.		13,515
	252,937		Bradken Ltd		2,090
	243,223		Brady Corp (Class A)		7,095
	242,905		Briggs & Stratton Corp		4,618
	365,262	*	Broadwind Energy, Inc		683
	173,421		BSS Group plc		1,214
	9,676		Bucher Industries AG.		1,449
	289,887		Bucyrus International, Inc (Class A)		20,104
	203,719	*	Builders FirstSource, Inc		464
	68,000		Bunka Shutter Co Ltd		177
	804,582		Bunzl plc		9,593
	58,404		Burckhardt Compression Holding AG.		12,945
	2,506,000	*	Burwill Holdings Ltd		142
	1,081,117		CAE, Inc		11,159
	41,612	*	CAI International, Inc		631

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,049,798	*	Capstone Turbine Corp	$	811
	21,864		Carbone Lorraine		945
	115,046		Cardno Ltd		512
	32,524		Cardo AB		1,189
	49,729		Cargotec Corp (B Shares)		2,149
	885,987		Carillion plc		4,363
	559,703		Carlisle Cos, Inc		16,763
	26,137	*	Carraro S.p.A.		82
	41,836		Cascade Corp		1,330
	2,560,622		Caterpillar, Inc		201,471
	251,000		Central Glass Co Ltd		998
	22,672	*	CENTROTEC Sustainable AG.		440
	117,635	*	Ceradyne, Inc		2,747
	112,897	*	Ceres Power Holdings plc		123
	133,537	*	Chart Industries, Inc		2,719
	282,306		Charter International plc		3,078
	49,406		Chemring Group PLC		2,333
	348,000		Chen Hsong Holdings		147
	423,052	*	Chicago Bridge & Iron Co NV (ADR)		10,344
	8,795,000		China Communications Construction Co Ltd		8,366
	1,492,300		China High Speed Transmission Equipment Group Co Ltd		3,239
	1,382,674		China International Marine Containers Co Ltd (Class B)		2,359
	17,711	*	China Ming Yang Wind Power Group Ltd ADS		248
	2,862,500		China Railway Construction Corp		3,852
	5,971,000		China Railway Group Ltd		4,679
	14,863,500		China South Locomotive and Rolling Stock Corp		14,061
	3,258,000		China State Construction International Holdings Ltd		1,965
	335,000		Chiyoda Corp		2,741
	41,400	*	Chiyoda Integre Co Ltd		435
	36,000		Chudenko Corp		405
	94,989		Chugai Ro Co Ltd		317
	100,573		Cintra Concesiones de Infraestructuras de Transporte S.A.		940
	576,643	*	CIR-Compagnie Industriali Riunite S.p.A.		1,176
	81,869		CIRCOR International, Inc		2,587
	1,893,186		Citic Pacific Ltd		4,319
	20,000		CJ Corp		1,610
	72,100		CKD Corp		480
	110,794		Clal Industries and Investments		770
	240,298		Clarcor, Inc		9,283
	346,736		Clough Ltd		275
	146,139	*	CNH Global NV		5,355
	94,454		Cobham plc		343
	459,368	*	Cofide S.p.A.		416
	17,455	*	Coleman Cable, Inc		105
	102,344	*	Colfax Corp		1,522
	92,173	*	Columbus McKinnon Corp		1,529
	216,297		Comfort Systems USA, Inc		2,321
	109,461	*	Commercial Vehicle Group, Inc		1,114
	29,000	m	Commuture Corp		147
	296,911		Compagnie de Saint-Gobain		13,207

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,059		Compagnie d’Entreprises CFE	$	1,069
	180,100		COMSYS Holdings Corp		1,650
	3,924		Construcciones y Auxiliar de Ferrocarriles S.A.		2,009
	409,003	*	Cookson Group plc		3,514
	989,027		Cooper Industries plc		48,393
	880,851		Cosco Corp Singapore Ltd		1,186
	26,885		Cosel Co Ltd		324
	85,220		Costain Group plc		281
	61,920		Cramo Oyj (Series B)		1,166
	242,624		Crane Co		9,205
	108,540		Crane Group Ltd		859
	1,494,337		CSR Ltd		2,600
	118,254		Cubic Corp		4,825
	1,192,020		Cummins, Inc		107,974
	230,368		Curtiss-Wright Corp		6,980
	48,800		Daelim Industrial Co		3,612
	15,633		Daetwyler Holding AG.		1,072
	153,475		Daewoo Engineering & Construction Co Ltd		1,514
	68,888		Daewoo International Corp		2,429
	136,821		Daewoo Shipbuilding & Marine Engineering Co Ltd		3,270
	118,500		Daifuku Co Ltd		602
	149,641		Daihen Corp		631
	52,000		Daiichi Jitsugyo Co Ltd		158
	125,703		Daikin Industries Ltd		4,728
	66,100	m	Daimei Telecom Engineering Corp		424
	82,000		Daiwa Industries Ltd		394
	3,122,865		Danaher Corp		126,821
	25,136		Danieli & Co S.p.A.		591
	136,681		Danieli & Co S.p.A. (RSP)		1,755
	184,074		DCC plc		5,272
	94,237	*	Deceuninck NV		238
	1,646,253		Deere & Co		114,877
	10,511		Delek Group Ltd		2,886
	29,503		Demag Cranes AG.		1,132
	88,088	*	Deutz AG.		648
	118,708	*	DigitalGlobe, Inc		3,609
	49,739		Discount Investment Corp		993
	1,164,753		Dogan Sirketler Grubu Holdings		845
	279,110		Donaldson Co, Inc		13,154
	560,600		Dongfang Electric Co Ltd		2,634
	14,146		Doosan Corp		1,892
	62,429		Doosan Heavy Industries and Construction Co Ltd		4,648
	114,910		Doosan Infracore Co Ltd		2,414
	52,048		Douglas Dynamics, Inc		643
	1,104,504		Dover Corp		57,666
	37,170	*	Draka Holding		661
	66,008		Ducommun, Inc		1,438
	11,348		Duerr AG.		354
	139,727		Duro Felguera S.A.		1,196
	47,366	*	DXP Enterprises, Inc		899
	211,952	*	Dycom Industries, Inc		2,117
	113,458		Dynamic Materials Corp		1,714

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,052,796		Eaton Corp	$	86,845
	703,992	*	Ebara Corp		3,120
	34,162		Eiffage S.A.		1,624
	27,768		Elbit Systems Ltd		1,480
	1,751		Electra Israel Ltd		178
	80,901		ElSwedy Cables Holding Co		1,006
	359,105	*	EMCOR Group, Inc		8,830
	828,129		Emeco Holdings Ltd		688
	4,749,006		Emerson Electric Co		250,082
	916,445		Empresa Brasileira de Aeronautica S.A.		6,397
	664,771		Empresas COPEC S.A.		12,460
	51,800	*	Empresas ICA Sociedad Controladora S.A. de C.V.		126
	77,120		Encore Wire Corp		1,582
	245,349	*	Ener1, Inc		903
	159,358	*	Energy Recovery, Inc		572
	745,462		Energy Support Corp		1,625
	224,364	*	EnerSys		5,602
	1,080,936		Engineers India Ltd		8,398
	378,120		Enka Insaat ve Sanayi AS		1,647
	91,903	*	EnPro Industries, Inc		2,875
	5,403		Entrepose Contracting		628
	133,857		ESCO Technologies, Inc		4,452
	149,947	*	Esterline Technologies Corp		8,581
	474,921		European Aeronautic Defence and Space Co		11,845
	9,007		Faiveley S.A.		784
	289,684	*	Fanuc Ltd		36,887
	6,028,973		Far Eastern Textile Co Ltd		8,298
	413,828		Fastenal Co		22,012
	307,469		Federal Signal Corp		1,657
	270,618		Fenner plc		987
	210,743		Finmeccanica S.p.A.		2,504
	212,574		Finning International, Inc		4,942
	198,627	*	Flow International Corp		522
	177,665		Flowserve Corp		19,440
	104,666		FLSmidth & Co AS		7,647
	55,953		Fluidra S.A.		201
	566,417		Fluor Corp		28,056
	4,568		FMS Enterprises Migun Ltd		129
	118,510		Fomento de Construcciones y Contratas S.A.		3,276
	331,351	*	Force Protection, Inc		1,670
	38	*	Foster Wheeler AG.		1
	131,797		Franklin Electric Co, Inc		4,370
	2,213,760		Fraser and Neave Ltd		10,942
	64,010		Freightcar America, Inc		1,575
	33,307		Frigoglass S.A.		411
	358,518	*	FuelCell Energy, Inc		441
	524,042	*	Fuji Electric Holdings Co Ltd		1,375
	62,796		Fuji Machine Manufacturing Co Ltd		937
	521,577		Fujikura Ltd		2,612
	211,000		Fujitec Co Ltd		1,041
	177,178	*	Furmanite Corp		865
	1,000,000	*	Furukawa Co Ltd		1,078

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,034,027		Furukawa Electric Co Ltd	$	7,651
	71,300		Futaba Corp/Chiba		1,185
	879,000	*	Gallant Venture Ltd		167
	113,440		Galliford Try PLC		588
	8,675		Gamesa Corp Tecnologica S.A.		61
	2,225,700		Gamuda BHD		2,797
	225,827		Gardner Denver, Inc		12,122
	138,467		GATX Corp		4,060
	7,489		GEA Group AG.		187
	5,525		Geberit AG.		984
	87,634		GEK Group of Cos S.A.		502
	595,739	*	GenCorp, Inc		2,931
	83,885	*	Generac Holdings, Inc		1,144
	383,003	*	General Cable Corp		10,387
	26,196	*	General de Alquiler de Maquinaria		62
	2,126,590		General Dynamics Corp		133,571
	51,346,574		General Electric Co		834,383
	93,466	*	GeoEye, Inc		3,784
	7,079		Georg Fischer AG.		2,831
	3,918		Gesco AG.		223
	139,163	*	Gibraltar Industries, Inc		1,250
	292,221		Giken Seisakusho Co, Inc		1,323
	63,122		Gildemeister AG.		921
	17,616	*	Global Defense Technology & Systems, Inc		241
	96,556		Glory Ltd		2,357
	1,645,102		Goodrich Corp		121,293
	53,563		Gorman-Rupp Co		1,476
	192,078		Graco, Inc		6,095
	680,890	*	GrafTech International Ltd		10,642
	289,335		Grafton Group plc		1,203
	75,233		Graham Corp		1,168
	162,000		Granite Construction, Inc		3,684
	52,211		Granite Hacarmel Investments Ltd		111
	471,455		Great Lakes Dredge & Dock Corp		2,739
	104,349	*	Greenbrier Cos, Inc		1,627
	228,067	*	Griffon Corp		2,780
	829,237		Grupo Carso S.A. de C.V. (Series A1)		4,172
	727	*	Grupo Empresarial San Jose		5
	82,975		Gruppo Beghelli S.p.A.		72
	63,470		GS Engineering & Construction Corp		4,882
	460,000		GS Yuasa Corp		3,235
	495,195		GWA International Ltd		1,498
	137,785	*	H&E Equipment Services, Inc		1,098
	55,224	*	Haldex AB		674
	3,357		Hamon & CIE S.A.		124
	385,013		Hampson Industries plc		191
	105,857		Hamworthy plc		599
	40,224		Hanjin Heavy Industries & Construction Co Ltd		1,266
	895,352		Hankyu Hanshin Holdings, Inc		4,301
	708,092	*	Hansen Transmissions International NV		529
	476,000		Hanwa Co Ltd		1,870
	1,312,000		Harbin Power Equipment		1,632

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	44		Harmonic Drive Systems, Inc	$	187
	1,006,473		Harsco Corp		24,739
	327,495		Hastie Group Ltd		499
	12,945		Haw Par Corp Ltd		57
	21,876	*	Hawk Corp		947
	125,841		Heico Corp		5,743
	273,030	*	Heidelberger Druckmaschinen		1,307
	326,834		Hellenic Technodomiki Tev S.A.		1,301
	6,944,000		Henderson Investment Ltd		716
	61,393	*	Herley Industries, Inc		1,013
	165,124		Hexagon AB (B Shares)		3,542
	419,604	*	Hexcel Corp		7,465
	56,720		Hexpol AB (Series B)		816
	65,200		Hibiya Engineering Ltd		587
	345,666		Hills Industries Ltd		748
	643,136	*	Hino Motors Ltd		3,105
	323,000		Hi-P International Ltd		251
	27,000		Hisaka Works Ltd		293
	245,000		Hitachi Cable Ltd		640
	27,353		Hitachi Construction Machinery Co Ltd		591
	1,195,899		Hitachi Zosen Corp		1,676
	46,550		Hochtief AG.		4,031
	38,193	*	Hoku Scientific, Inc		104
	12,578		Homag Group AG.		224
	6,977,884		Honeywell International, Inc		306,607
	380,000		Hong Leong Asia Ltd		959
	50,100		Hoshizaki Electric Co Ltd		900
	44,000	*	Hosokawa Micron Corp		144
	86,617		Houston Wire & Cable Co		869
	256,375		Hubbell, Inc (Class B)		13,011
	3,887,481		Hutchison Whampoa Ltd		36,275
	77,246		Hyundai Development Co		2,046
	97,204		Hyundai Engineering & Construction Co Ltd		6,180
	68,287		Hyundai Heavy Industries		19,613
	25,676		Hyundai Mipo Dockyard		4,245
	36,900		Idec Corp		336
	296,153		IDEX Corp		10,516
	108,179	*	II-VI, Inc		4,038
	1,471,770		IJM Corp BHD		2,474
	1,898,712		Illinois Tool Works, Inc		89,278
	651,774		IMI plc		7,858
	410,658		Impregilo S.p.A.		1,223
	15,792	*	IMS-Intl Metal Service		258
	143,878		Imtech NV		4,567
	35,000		Inaba Denki Sangyo Co Ltd		871
	78,000		Inabata & Co Ltd		394
	34,630		Indus Holding AG.		902
	979,654		Industrea Ltd		455
	9,680		Industria Macchine Automatiche S.p.A.		184
	24,964		Indutrade AB		691
	1,023,900		Ingersoll-Rand plc		36,563
	168,812	*	Insituform Technologies, Inc (Class A)		4,082

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	90,957		Insteel Industries, Inc	$	817
	162,367	*	Interline Brands, Inc		2,929
	2,200,000	*	International Mining Machinery Holdings Ltd		2,078
	89,272	*	Interpump Group S.p.A.		559
	182,747		Interserve plc		578
	2,451,239		Invensys plc		11,494
	251,000	*	Iseki & Co Ltd		686
	4,915,008		Ishikawajima-Harima Heavy Industries Co Ltd		9,420
	1,646,532		Itochu Corp		15,069
	866,447		ITT Industries, Inc		40,576
	420,000		Iwatani International Corp		1,218
	50,939		J&P-Avax SA		85
	1,127,068	*	Jacobs Engineering Group, Inc		43,619
	1,398,225		Jaiprakash Associates Ltd		3,759
	168,604		Japan Pulp & Paper Co Ltd		557
	509,303		Japan Steel Works Ltd		4,795
	506,000	*	Jaya Holdings Ltd		250
	151,000		JFE Shoji Holdings, Inc		615
	139,900		JG Summit Holdings (Series B)		80
	193,140		JGC Corp		3,352
	123,680		John Bean Technologies Corp		1,992
	3,445,086		Johnson Electric Holdings Ltd		1,820
	930,257		Joy Global, Inc		65,416
	211,047		JS Group Corp		4,139
	917,435		JTEKT Corp		8,451
	179,000	*	Juki Corp		315
	37,602		Jungheinrich AG.		1,258
	78,151		Kaba Holding AG.		26,086
	93,596	*	Kadant, Inc		1,770
	3,059,568		Kajima Corp		7,367
	170,242		Kaman Corp		4,462
	156,000		Kandenko Co Ltd		934
	554,000	*	Kanematsu Corp		465
	6,085		Kardex AG.		159
	26,500		Katakura Industries Co Ltd		272
	900,000		Kato Works Co Ltd		1,682
	1,120,363		Kawasaki Heavy Industries Ltd		3,181
	155,837		Kaydon Corp		5,392
	2,366,612		KBR, Inc		58,314
	6,912		KCC Corp		2,225
	79,783		KCI Konecranes Oyj		2,983
	84,855		Keller Group plc		787
	257,077		Kennametal, Inc		7,951
	2,677,280		Keppel Corp Ltd		18,281
	52,802		Kier Group plc		983
	169,309		Kinden Corp		1,529
	173,906		Kingspan Group plc		1,319
	50,000		Kinki Sharyo Co Ltd		227
	144,000		Kitz Corp		588
	92,910	*	Kloeckner & Co AG.		2,091
	1,331,913		KOC Holding AS		6,353
	1,769,158		Komatsu Ltd		41,071

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,202		Komax Holding AG	$	366
	80,690		Komori Corp		938
	60,598		Kone Oyj (Class B)		3,131
	307,328		Koninklijke BAM Groep NV		1,990
	4,207,245		Koninklijke Philips Electronics NV		132,233
	489,534		Koninklijke Philips Electronics NV (ADR)		15,332
	20,687		Koor Industries Ltd		449
	87,129	*	Kratos Defense & Security Solutions, Inc		928
	25,208		Krones AG.		1,501
	278,000	*	KS Energy Services Ltd		228
	252		Ksb AG		172
	350,384		Kubota Corp		3,207
	33,668	*	KUKA AG.		643
	345,475		Kurita Water Industries Ltd		9,589
	60,570		Kuroda Electric Co Ltd		706
	67,000		Kyosan Electric Manufacturing Co Ltd		299
	111,600		Kyowa Exeo Corp		1,004
	54,000		Kyudenko Corp		294
	749,087		L-3 Communications Holdings, Inc		54,137
	60,298	*	LaBarge, Inc		753
	73,213	*	Ladish Co, Inc		2,279
	300,216		Larsen & Toubro Ltd		13,718
	243,917		Lavendon Group plc		203
	29,338		Lawson Products, Inc		448
	97,776	*	Layne Christensen Co		2,531
	57,271	*	LB Foster Co (Class A)		1,657
	400,867		Legrand S.A.		13,558
	271,604		Leighton Holdings Ltd		8,679
	14,966		Lemminkainen Oyj		504
	162,594		Lennox International, Inc		6,779
	193,378		LG Corp		13,991
	147,319		Lincoln Electric Holdings, Inc		8,518
	80,310		Lindab International AB		1,163
	53,380		Lindsay Manufacturing Co		2,312
	4,579		LISI		311
	42,342	*	LMI Aerospace, Inc		674
	1,752,250		Lockheed Martin Corp		124,900
	160,000		Lonking Holdings Ltd		162
	24,611		LS Cable Ltd		2,525
	20,224		LS Industrial Systems Co Ltd		1,658
	110,139		LSI Industries, Inc		707
	77,594	*	Lydall, Inc		571
	29,823		Mabuchi Motor Co Ltd		1,525
	1,104,133		Macmahon Holdings Ltd		726
	175,000		Maeda Corp		474
	117,000		Maeda Road Construction Co Ltd		869
	1,700	*	Magnetek, Inc		2
	164,536		Maire Tecnimont S.p.A.		654
	196,000	*	Makino Milling Machine Co Ltd		1,327
	111,330	*	Makita Corp		3,530
	206,900		Malaysian Resources Corp Bhd		141
	4,738		MAN AG.		516

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,414	*	Manitou BF S.A.	$	253
	514,562		Manitowoc Co, Inc		6,231
	36,442		Martifer SGPS S.A.		77
	2,410,294		Marubeni Corp		13,628
	3,960,959		Masco Corp		43,611
	283,561	*	Mastec, Inc		2,926
	231,657		Matsushita Electric Works Ltd		3,072
	52,000		Max Co Ltd		588
	3,243,826		Meggitt plc		15,094
	249,000		Meidensha Corp		916
	1,156,243		Melrose plc		4,970
	5,038,000	*	Metallurgical Corp of China Ltd		2,623
	95,484		Metka S.A.		1,036
	63,972		Met-Pro Corp		645
	73,035		Metso Oyj		3,347
	55,255	*	Meyer Burger Technology AG.		1,743
	37,040	*	Michael Baker Corp		1,221
	5,861		Michaniki S.A. (Preference)		3
	75,403		Micron Machinery Co Ltd		858
	70,624	*	Middleby Corp		4,477
	54,471		Miller Industries, Inc		737
	1,997,704		Minebea Co Ltd		10,290
	112,900		MISUMI Group, Inc		2,367
	3,090,422		Mitsubishi Corp		73,335
	2,910,190		Mitsubishi Electric Corp		25,030
	3,583,031		Mitsubishi Heavy Industries Ltd		13,220
	81,000		Mitsubishi Kakoki Kaisha Ltd		163
	154,000		Mitsuboshi Belting Co Ltd		747
	3,093,698		Mitsui & Co Ltd		46,027
	3,061,612		Mitsui Engineering & Shipbuilding Co Ltd		6,932
	37,800		Miura Co Ltd		855
	2,725,374		MMC Corp BHD		2,649
	161,174		Monadelphous Group Ltd		2,502
	234,144	*	Moog, Inc (Class A)		8,314
	376,927		Morgan Crucible Co plc		1,294
	50,715		Morgan Sindall plc		530
	150,800		Mori Seiki Co Ltd		1,404
	104,403		Mota Engil SGPS S.A.		304
	150,920		MSC Industrial Direct Co (Class A)		8,156
	96,625		MTU Aero Engines Holding AG.		5,523
	193,163		Mueller Industries, Inc		5,117
	822,477		Mueller Water Products, Inc (Class A)		2,484
	76,528		Munters AB		866
	450,180		Murray & Roberts Holdings Ltd		2,900
	96,000	*	Musashino Kogyo Co Ltd		209
	83,878	*	MYR Group, Inc		1,375
	190,000		Nabtesco Corp		3,093
	30,266		Nacco Industries, Inc (Class A)		2,645
	254,000	*	Nachi-Fujikoshi Corp		700
	277,000		Nagase & Co Ltd		3,142
	101,700		Namura Shipbuilding Co Ltd		518
	413,284	*	Navistar International Corp		18,036

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	194,425		NCC AB (B Shares)	$	3,975
	93,433	*	NCI Building Systems, Inc		890
	11,600		NEC Capital Solutions Ltd		144
	30,900		NEC Networks & System Integration Corp		391
	454,351		Neo-Neon Holdings Ltd		295
	34,016		Nexans S.A.		2,474
	201,419		NGK Insulators Ltd		3,347
	118,876		Nibe Industrier AB (Series B)		1,389
	173,000		Nichias Corp		752
	8,700		Nichiden Corp		265
	40,300		Nichiha Corp		330
	231,420		Nidec Corp		20,569
	161,000		Nippo Corp		1,076
	227,000		Nippon Carbon Co Ltd		718
	86,000		Nippon Densetsu Kogyo Co Ltd		834
	255,000		Nippon Road Co Ltd		522
	93,730		Nippon Sharyo Ltd		457
	1,379,576		Nippon Sheet Glass Co Ltd		3,008
	100,800		Nippon Signal Co Ltd		724
	65,000		Nippon Steel Trading Co Ltd		188
	92,000	*	Nippon Thompson Co Ltd		623
	385,000		Nishimatsu Construction Co Ltd		452
	26,700		Nishio Rent All Co Ltd		171
	63,000		Nissin Electric Co Ltd		303
	29,300		Nitta Corp		451
	365,000	*	Nitto Boseki Co Ltd		831
	36,300		Nitto Kogyo Corp		310
	14,973		Nitto Kohki Co Ltd		386
	33,118		NKT Holding AS		1,638
	2,045,914		Noble Group Ltd		2,940
	51,800	*	Nordex AG.		477
	175,972		Nordson Corp		12,967
	134,919		Noritake Co Ltd		470
	50,200		Noritz Corp		944
	1,592,750		Northrop Grumman Corp		96,568
	67,687	*	Northwest Pipe Co		1,185
	425,742		NRW Holdings Ltd		714
	315,594		NSK Ltd		2,140
	3,363,638	*	NTN Corp		14,505
	1,440,759		NWS Holdings Ltd		2,826
	26,000		Obara Corp		239
	554,723		Obayashi Corp		2,206
	78,164		Obrascon Huarte Lain S.A.		2,195
	159,037	*	OC Oerlikon Corp AG.		689
	72,100		Oiles Corp		1,163
	263,641	*	Okuma Holdings, Inc		1,456
	278,000		Okumura Corp		942
	6,291		Omega Flex, Inc		90
	16,200		Onoken Co Ltd		128
	143,749		Orascom Construction Industries		6,321
	248,583	*	Orbital Sciences Corp		3,803
	46,000		Organo Corp		293

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	107,108	*	Orion Marine Group, Inc	$	1,329
	34,466		Orkla ASA		318
	70,498		Ormat Industries		583
	132,300		OSG Corp		1,293
	539,097	*	Oshkosh Truck Corp		14,825
	60,782		Outotec Oyj		2,574
	1,552,573	*	Owens Corning, Inc		39,792
	1,607,411		Paccar, Inc		77,397
	17,261		Palfinger AG.		443
	428,682		Pall Corp		17,850
	5,731,000		Pan-United Corp Ltd		2,157
	1,047,774		Parker Hannifin Corp		73,407
	9,647		PBG S.A.		811
	221,257		Peab AB (Series B)		1,625
	312,808		Pentair, Inc		10,520
	450,000		Penta-Ocean Construction Co Ltd		674
	141,592	*	Perini Corp		2,845
	12,422		Pfeiffer Vacuum Technology AG.		1,175
	55,580	*	Pfleiderer AG.		293
	28,877	*	Pgt, Inc		66
	18,458		Phoenix Solar AG.		661
	73,332	*	Pike Electric Corp		534
	15,495		Pinguely-Haulotte		168
	23,811		Pkc Group Oyj		366
	10,009		Plasson		250
	72,507	*	PMFG, Inc		1,236
	152,950	*	Polypore International, Inc		4,613
	31,244		Ponsse Oy		463
	16,794		Portec Rail Products, Inc		195
	65,169	*	Powell Industries, Inc		2,028
	87,960	*	PowerSecure International, Inc		815
	952,678		Precision Castparts Corp		121,324
	16,867		Preformed Line Products Co		588
	94,302		Primoris Services Corp		617
	1,210,600		Prysmian S.p.A.		22,115
	2,282,544		PT United Tractors Tbk		5,230
	937,436		QinetiQ plc		1,587
	277,469		Quanex Building Products Corp		4,792
	669,573	*	Quanta Services, Inc		12,775
	3,656		R Stahl AG.		118
	93,584		Ramirent Oyj		958
	4,742		Rational AG.		1,005
	70,534		Raven Industries, Inc		2,673
	2,492,242		Raytheon Co		113,920
	91,323	*	RBC Bearings, Inc		3,103
	319,843		Regal-Beloit Corp		18,772
	219,626		Reunert Ltd		1,954
	516,823		Rheinmetall AG.		34,171
	133,681		Robbins & Myers, Inc		3,580
	495,972		Rockwell Automation, Inc		30,616
	690,086		Rockwell Collins, Inc		40,198
	11,679		Rockwool International AS (B Shares)		1,275

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,498,142		Rolls-Royce Group plc	$	14,203
	275,276		Roper Industries, Inc		17,942
	4,612		Rosenbauer International AG.		195
	331,000		Rotary Engineering Ltd		234
	128,166		Rotork PLC		3,463
	216,050	*	RSC Holdings, Inc		1,612
	160,408	*	Rush Enterprises, Inc (Class A)		2,461
	83,333		Russel Metals, Inc		1,712
	292,000	*	Ryobi Ltd		1,084
	133,303		Saab AB (Class B)		1,932
	148,436	*	Sacyr Vallehermoso S.A.		888
	1,244,294		Safran S.A.		34,977
	34,413		Saft Groupe S.A.		1,342
	182,127		Samsung Corp		9,935
	43,528		Samsung Engineering Co Ltd		5,802
	236,460		Samsung Heavy Industries Co Ltd		6,252
	66,121		Samsung Techwin Co Ltd		6,553
	158,044		Sandvik AB		2,422
	112,000		Sanki Engineering Co Ltd		816
	331,000	*	Sankyo-Tateyama Holdings, Inc		408
	320,000		Sanwa Shutter Corp		947
	52,000		Sanyo Denki Co Ltd		235
	290,000		Sasebo Heavy Industries Co Ltd		584
	287,092	*	SatCon Technology Corp		1,079
	102,389	*	Sauer-Danfoss, Inc		2,180
	137,168		Scania AB (B Shares)		3,028
	34,809		Schindler Holding AG.		3,734
	17,572		Schindler Holding AG. (Reg)		1,878
	992,387		Schneider Electric S.A.		125,830
	37,578		Schouw & Co		832
	1,102		Schweiter Technologies AG.		746
	1,808		Seaboard Corp		3,202
	32,000		SEC Carbon Ltd		155
	134,294		Sedgman Ltd		258
	93,000		Seika Corp		204
	59,000		Sekisui Jushi Corp		597
	2,900,112		SembCorp Industries Ltd		9,615
	4,013,833		SembCorp Marine Ltd		11,995
	1,242,988		Senior plc		2,712
	69,881	*	Sensata Technologies Holding BV		1,381
	152,344		Severfield-Rowen plc		485
	69,533	*	SGL Carbon AG.		2,409
	8,446,000		Shanghai Electric Group Co Ltd		4,692
	885,600		Shanghai Industrial Holdings Ltd		4,474
	1,117,053	*	Shaw Group, Inc		37,489
	332,891		Shikun & Binui Ltd		742
	35,600		Shima Seiki Manufacturing Ltd		729
	463,168		Shimizu Corp		1,714
	588,149		Shin Zu Shing Co Ltd		1,642
	141,000		Shinko Electric Co Ltd		287
	24,000		Shin-Kobe Electric Machinery Co Ltd		209
	522,590		Shinmaywa Industries Ltd		1,934

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	161,000		Shinsho Corp	$	345
	53,300		SHO-BOND Holdings Co Ltd		1,161
	450,000		Shui On Construction and Materials Ltd		556
	1,944,074		Siemens AG.		205,211
	118,189		Siemens India Ltd		2,166
	838,584	*	SIG plc		1,265
	3,646,671		Sime Darby BHD		10,041
	170,832		Simpson Manufacturing Co, Inc		4,404
	2,106,000	*	Singamas Container Holdings Ltd		486
	1,565,134		Singapore Technologies Engineering Ltd		3,999
	51,729	*	Singulus Technologies		297
	2,604,000		Sinotruk Hong Kong Ltd		2,655
	15,322		Sintex Industries Ltd		131
	61,800		Sintokogio Ltd		446
	53,650		SK Corp		5,576
	116,760		SK Networks Co Ltd		1,147
	17,880		Skanska AB (B Shares)		328
	1,798,312		SKF AB (B Shares)		41,354
	549,041		SM Investments Corp		7,131
	53,669		SMC Corp		7,078
	3,938,156		Smiths Group plc		75,413
	185,073		Snap-On, Inc		8,608
	173,659		SNC-Lavalin Group, Inc		8,878
	5,365,609	*	Sojitz Holdings Corp		9,641
	10,299		Solar Holdings AS (B Shares)		690
	13,805	*	Solar Millennium AG.		360
	58,976		Solaria Energia y Medio Ambiente S.A.		125
	138,301	*	Sonae Capital SGPS S.A.		83
	1,166,133		Sonae SPGS S.A.		1,292
	753,938		Speedy Hire plc		272
	106,870		Spirax-Sarco Engineering plc		3,022
	498,948	*	Spirit Aerosystems Holdings, Inc (Class A)		9,944
	386,482		SPX Corp		24,457
	19,891		SRV Group plc		166
	64,157		Standex International Corp		1,552
	106,370	*	Sterling Construction Co, Inc		1,317
	58,762		Strabag SE		1,394
	56,349		Sulzer AG.		6,537
	132,000		Sumikin Bussan Corp		267
	2,392,793		Sumitomo Corp		30,841
	2,259,300		Sumitomo Electric Industries Ltd		27,551
	967,561		Sumitomo Heavy Industries Ltd		4,984
	450,575		Sumitomo Precision Products Co Ltd		1,495
	57,744		Sun Hydraulics Corp		1,628
	145,668		Superior Plus Corp		1,686
	914,001	*	Suzlon Energy Ltd		1,066
	329,000	*	SWCC Showa Holdings Co Ltd		284
	651,451		Swisslog Holding AG.		530
	518,186		Tadano Ltd		2,582
	40,000		Taihei Dengyo Kaisha Ltd		281
	69,000		Taihei Kogyo Co Ltd		245
	45,100		Taikisha Ltd		722

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,331,976		Taisei Corp	$	8,925
	1,196,608		Taiwan Glass Industrial Corp		1,214
	101,000		Takaoka Electric Manufacturing Co Ltd		347
	125,929		Takara Standard Co Ltd		816
	88,800		Takasago Thermal Engineering Co Ltd		696
	14,300	*	Takeuchi Manufacturing Co Ltd		139
	90,000	*	Takuma Co Ltd		207
	73,349		TAL International Group, Inc		1,777
	245,017	*	Taser International, Inc		951
	2,652,315		Tat Hong Holdings Ltd		2,097
	527,510		Tata Motors Ltd		12,891
	6,668,833		Teco Electric and Machinery Co Ltd		3,864
	114,151	*	Tecumseh Products Co (Class A)		1,309
	171,756		Teixeira Duarte SA		197
	199,326	*	Teledyne Technologies, Inc		7,937
	127,850		Tennant Co		3,951
	341,487	*	Terex Corp		7,827
	44,426		Textainer Group Holdings Ltd		1,188
	4,885,952		Textron, Inc		100,455
	318,585		Thales S.A.		11,644
	46,669	*	Thermadyne Holdings Corp		659
	125,025		THK Co Ltd		2,342
	322,149	*	Thomas & Betts Corp		13,215
	1,114,688		Timken Co		42,759
	163,855		Titan International, Inc		2,224
	55,568	*	Titan Machinery, Inc		906
	332,000		Toa Corp/Tokyo		330
	17,300		Tocalo Co Ltd		274
	382,000		Toda Corp		1,249
	49,000		Toenec Corp		271
	149,558		Tognum AG.		3,312
	33,000		Tokyo Energy & Systems, Inc		228
	108,370		Tokyu Construction Co Ltd		314
	24,700		Torishima Pump Manufacturing Co Ltd		397
	241,190		Toro Co		13,562
	126,342		Toromont Industries Ltd		3,492
	153,964		Toshiba Machine Co Ltd		531
	54,000		Toshiba Plant Systems & Services Corp		721
	354,951		Toto Ltd		2,432
	693,000		Toyo Construction Co Ltd		332
	51,000		Toyo Electric Manufacturing Co Ltd		240
	684,957		Toyo Engineering Corp		2,240
	14,400		Toyo Tanso Co Ltd		735
	276,775		Toyota Tsusho Corp		4,078
	385,356		TransDigm Group, Inc		23,911
	279,139	*	Travis Perkins plc		3,699
	124,079		Tredegar Corp		2,355
	456,926		Trelleborg AB (B Shares)		4,210
	39,981		Trevi Finanziaria S.p.A.		566
	63,760	*	Trex Co, Inc		1,216
	57,762	*	Trimas Corp		858
	252,835		Trinity Industries, Inc		5,631

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	87,432		Triumph Group, Inc	$	6,522
	301,000	*	Trony Solar Holdings Co Ltd.		175
	25,000		Trusco Nakayama Corp		349
	246,000		Tsubakimoto Chain Co		1,011
	70,000		Tsugami Corp		450
	58,000		Tsukishima Kikai Co Ltd		374
	49,272		Twin Disc, Inc		687
	4,064,233		Tyco International Ltd		149,279
	95,605		Ultra Electronics Holdings		2,559
	67,195		Umeco plc		457
	15,900		Union Tool Co		399
	3,831	*	United Capital Corp		93
	322,000		United Engineers Ltd		575
	510,594		United Group Ltd		7,339
	296,388	*	United Rentals, Inc		4,398
	3,293,395		United Technologies Corp		234,589
	81,809		Universal Forest Products, Inc		2,393
	76,573		Uponor Oyj		1,267
	155,511	*	UQM Technologies, Inc		398
	304,049	*	URS Corp		11,548
	205,896	*	USG Corp		2,716
	368,275		Ushio, Inc		6,198
	14,333		Vacon plc		685
	884,083		Vallourec		87,826
	158,167		Valmont Industries, Inc		11,451
	126,700		Veidekke ASA		969
	9,084	*	Vestas Wind Systems AS		342
	86,308		Vicor Corp		1,261
	783,809		Vinci S.A.		39,291
	48,628		Volvo AB (B Shares)		714
	91,793		Von Roll Holding AG.		495
	13,789		Vossloh AG.		1,468
	184,721		W.W. Grainger, Inc		22,002
	251,364	*	Wabash National Corp		2,034
	538,924	*	WABCO Holdings, Inc		22,602
	35,785		Wacker Construction Equipment AG.		491
	12,838		Wajax Income Fund		346
	3,796,150	*	Walsin Lihwa Corp		2,260
	1,003		Walter Meier AG.		171
	191,063		Wartsila Oyj (B Shares)		12,469
	121,511		Watsco, Inc		6,766
	146,461		Watts Water Technologies, Inc (Class A)		4,987
	63,631		Wavin NV		794
	533,500		Weichai Power Co Ltd		5,638
	407,293		Weir Group plc		9,105
	66,729		Wendel		4,422
	226,488	*	WESCO International, Inc		8,899
	148,321		Westinghouse Air Brake Technologies Corp		7,088
	54,805	*	Westport Innovations, Inc		960
	2,499,176	*	Wienerberger AG.		41,105
	654,784	*	Wolseley plc		16,447
	307,363		Woodward Governor Co		9,965

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,372	*,b	Xerium Technologies, Inc	$	427
	36,000		Yahagi Construction Co Ltd		235
	82,100		Yamazen Corp		317
	3,646,000		Yangzijiang Shipbuilding		4,879
	180,516		YIT Oyj		4,279
	43,000		Yokogawa Bridge Holdings Corp		280
	339,000		Yuasa Trading Co Ltd		325
	53,000		Yurtec Corp		199
	13,400		Yushin Precision Equipment Co Ltd		253
	7,626		Zardoya Otis S.A.		137
	1,002		Zehnder Group AG.		1,989
	906,600		Zelan BHD		201
	9,475		Zhongde Waste Technology AG.		179
	1,780,000		Zhuzhou CSR Times Electric Co Ltd		5,712
	81,794		Zodiac S.A.		5,185
	39,309		Zumtobel AG.		674
			TOTAL CAPITAL GOODS		8,509,694
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
	62,406		Aangpanneforeningen AB (B Shares)		1,153
	263,080		ABM Industries, Inc		5,680
	195,878	*	Acacia Research (Acacia Technologies)		3,447
	260,791	*	ACCO Brands Corp		1,500
	3,326,628	*	Accor Services		65,894
	1,818,121		Adecco S.A.		95,008
	166,338		Administaff, Inc		4,479
	98,656	*	Advisory Board Co		4,356
	29,700		Aeon Delight Co Ltd		556
	248,314		Aggreko plc		6,124
	119,981		American Ecology Corp		1,920
	157,504	*	American Reprographics Co		1,236
	121,427	*	APAC Customer Services, Inc		687
	50,574		Asahi Holdings, Inc		1,167
	15,644		Assystem		266
	142,818	*	ATC Technology Corp		3,533
	267,215		Atkins WS plc		3,089
	400,705		Avery Dennison Corp		14,874
	698,795		Babcock International Group		6,257
	36,315		Barrett Business Services, Inc		552
	5,914		Bertrandt AG.		351
	181,861		BFI Canada Ltd		4,161
	171,172		Bowne & Co, Inc		1,939
	3,453,486		Brambles Ltd		20,929
	307,750		Brink’s Co		7,078
	13,466		Brunel International		420
	75,905		Bureau Veritas S.A.		5,300
	12,237		BWT AG.		319
	161,195		Cabcharge Australia Ltd		862
	95,607		Campbell Brothers Ltd		3,056
	161,195		Cape plc		874
	147,283		Capita Group plc		1,819
	102,940	*	Casella Waste Systems, Inc (Class A)		432

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	202,556	*	CBIZ, Inc	$	1,201
	62,774		CDI Corp		811
	217,342	*	Cenveo, Inc		1,093
	22,492		Cewe Color Holding AG.		835
	444,393		Cintas Corp		12,243
	98,454	*	Clean Harbors, Inc		6,670
	2,721		Compx International, Inc		36
	202,296		Connaught plc		53
	71,617	*	Consolidated Graphics, Inc		2,969
	238,272	*	Copart, Inc		7,856
	170,651		Corporate Executive Board Co		5,386
	454,253	*	Corrections Corp of America		11,211
	89,227	*	CoStar Group, Inc		4,346
	50,366		Courier Corp		716
	410,067		Covanta Holding Corp		6,459
	50,395	*	CRA International, Inc		910
	930,440		Dai Nippon Printing Co Ltd		11,357
	46,000		Daiseki Co Ltd		866
	433,115		Davis Service Group plc		2,732
	148,648		De La Rue plc		1,542
	230,147		Deluxe Corp		4,403
	124,190		Derichebourg		550
	132,781	*	Dolan Media Co		1,510
	694,095		Downer EDI Ltd		3,301
	264,101		Dun & Bradstreet Corp		19,580
	78,500		Duskin Co Ltd		1,411
	728,066		eaga plc		1,287
	453,439		EnergySolutions, Inc		2,281
	85,345	*	EnerNOC, Inc		2,681
	150	*	en-japan, Inc		210
	133,837		Ennis, Inc		2,394
	269,601		Equifax, Inc		8,412
	1,991,555		Experian Group Ltd		21,680
	89,815	*	Exponent, Inc		3,017
	18,430		Fiera Milano S.p.A.		105
	59,894	*	Franklin Covey Co		476
	99,963	*	FTI Consulting, Inc		3,468
	89,775	*	Fuel Tech, Inc		563
	18,463,000	*	Fung Choi Media Group Ltd		2,597
	110,443		G & K Services, Inc (Class A)		2,525
	27,397	*	Gategroup Holding AG.		1,087
	273,763	*	Geo Group, Inc		6,392
	18,488		GL Events		584
	69,638	*	GP Strategies Corp		633
	2,505,482		Group 4 Securicor plc		10,021
	3,716		Groupe CRIT		91
	60,817	*	Gunnebo AB		328
	2,028,490		Hays plc		3,604
	187,870		Healthcare Services Group		4,282
	73,522		Heidrick & Struggles International, Inc		1,432
	247,279		Herman Miller, Inc		4,866
	243,256	*	Higher One Holdings, Inc		4,011

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	143,232	*	Hill International, Inc	$	642
	187,846		HNI Corp		5,402
	549,970		Hogg Robinson Group plc		255
	365,828		Homeserve plc		2,526
	138,170	*	Hudson Highland Group, Inc		475
	98,212	*	Huron Consulting Group, Inc		2,160
	78,246	*	ICF International, Inc		1,962
	4,204		IESI-BFC Ltd		96
	152,110	*	IHS, Inc (Class A)		10,343
	108,386	*	Innerworkings, Inc		712
	230,132		Interface, Inc (Class A)		3,275
	3,586		Interseroh AG.		195
	85,812		Intertek Group plc		2,467
	105,378		Intrum Justitia AB		1,208
	577,228		Iron Mountain, Inc		12,895
	317,171		ITE Group plc		889
	613,600		JobStreet Corp Bhd		469
	84,819	*	KAR Auction Services, Inc		1,070
	119,173	*	Kelly Services, Inc (Class A)		1,398
	135,660	*	Kforce, Inc		1,861
	125,200	*	K-Green Trust		104
	160,810		Kimball International, Inc (Class B)		938
	195,695		Knoll, Inc		3,035
	170,000		Kokuyo Co Ltd		1,344
	202,774	*	Korn/Ferry International		3,354
	188,000		Kyodo Printing Co Ltd		453
	48,585		Lassila & Tikanoja Oyj		920
	98,196	*	LECG Corp		108
	107,020		Loomis AB		1,286
	52,415	*	M&F Worldwide Corp		1,276
	135,356		MAC Services Group		428
	173,529		Manpower, Inc		9,058
	18,462		Matsuda Sangyo Co Ltd		316
	106,061		McGrath RentCorp		2,540
	117,307		Mears Group plc		551
	48,600	*	Meitec Corp		903
	167,349	*	Metalico, Inc		641
	545,006		Michael Page International plc		3,945
	125,803		Mine Safety Appliances Co		3,409
	127,470		Mineral Resources Ltd		1,301
	66,151	*	Mistras Group, Inc		766
	501,192		Mitie Group		1,505
	41,672		Mitsubishi Pencil Co Ltd		740
	166,464	*	Mobile Mini, Inc		2,554
	24,660		Morneau Sobeco Income Fund		219
	41,600		Moshi Moshi Hotline, Inc		1,001
	163,798		Mouchel Group plc		323
	49,465		Multi-Color Corp		762
	368,517	*	Navigant Consulting, Inc		4,286
	81,156		Newalta, Inc		704
	6,800		Nippon Kanzai Co Ltd		111
	21,600		Nissha Printing Co Ltd		491

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	82,000		Okamura Corp	$	447
	212,354	*	On Assignment, Inc		1,115
	22,768		Oyo Corp		184
	135,100		Park24 Co Ltd		1,439
	224	*	Pasona Group, Inc		158
	193		Pilot Corp		352
	677,379		Pitney Bowes, Inc		14,482
	439,953	*	PMP Ltd		298
	49,138		Poyry Oyj		747
	79,293		Proffice AB		315
	158,380		Programmed Maintenance Services Ltd		272
	87,300		PRONEXUS, Inc		484
	57,386		Prosegur Cia de Seguridad S.A.		3,433
	1,242,028		R.R. Donnelley & Sons Co		21,065
	17,247	*	Randstad Holdings NV		784
	1,768,244		Regus plc		2,222
	3,085,672	*	Rentokil Initial plc		4,993
	2,435,346		Republic Services, Inc		74,255
	203,174		Resources Connection, Inc		2,796
	114,852		Ritchie Bros Auctioneers, Inc		2,375
	312,683		Robert Half International, Inc		8,130
	94,951		Robert Walters plc		346
	194,588		Rollins, Inc		4,549
	313,441		RPS Group plc		921
	25,121		S1 Corp (Korea)		1,379
	439,001		SAI Global Ltd (New)		1,854
	271,624		Salmat Ltd		1,024
	37,452		Sato Corp		463
	55,275		Schawk, Inc (Class A)		1,020
	97,787	*	School Specialty, Inc		1,272
	7,474		Seche Environnement S.A.		569
	183,949		Secom Co Ltd		8,307
	5,500		Secom Techno Service Co Ltd		163
	46,037		Securitas AB (B Shares)		496
	444,427		Securitas Systems AB (B Shares)		778
	536,153		Seek Ltd		3,876
	294,790		Serco Group plc		2,848
	247		SGS S.A.		399
	578,281		Shanks Group plc		1,024
	180,727		Skilled Group Ltd		241
	57,658		Societe BIC S.A.		4,629
	124,900		Sohgo Security Services Co Ltd		1,293
	264,393	*	Spherion Corp		1,589
	471,262		Spice plc		516
	545,647		Spotless Group Ltd		1,266
	93,081	*	Standard Parking Corp		1,592
	76,139		Standard Register Co		222
	63,862	*	Stantec, Inc		1,693
	331,587		Steelcase, Inc (Class A)		2,762
	518,116	*	Stericycle, Inc		35,999
	141,985		Sthree plc		652
	182,413	*	SYKES Enterprises, Inc		2,477

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,615,530		Taiwan-Sogo Shinkong Security Corp	$	7,611
	88,207	*	Team, Inc		1,518
	7,342		Telegate AG.		71
	75,013		Teleperformance		2,137
	46,700		Temp Holdings Co Ltd		426
	375,345	*	Tetra Tech, Inc		7,871
	15,600		Tokyu Community Corp		432
	267,965		Tomra Systems ASA		1,595
	87,700		Toppan Forms Co Ltd		815
	853,548		Toppan Printing Co Ltd		6,677
	132,124		Towers Watson & Co		6,498
	52,010		Transcom WorldWide S.A. (ADR)		147
	121,430		Transcontinental, Inc		1,649
	647,787		Transfield Services Ltd		2,254
	1,158,958	*	Transpacific Industries Group Ltd		1,316
	156,763	m	Tricorona AB		186
	232,742	*	TrueBlue, Inc		3,177
	136,000		Uchida Yoko Co Ltd		544
	73,512		Unifirst Corp		3,246
	119,893	*	United Stationers, Inc		6,415
	92,171	*	USG People NV		1,449
	365,319	*	Verisk Analytics, Inc		10,233
	147,313		Viad Corp		2,849
	67,774	*	Volt Information Sciences, Inc		488
	27,757		VSE Corp		979
	1,070,984	*	Waste Connections, Inc		42,475
	1,803,307		Waste Management, Inc		64,450
	87,988		WSP Group plc		517
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		972,654
CONSUMER DURABLES & APPAREL - 1.8%
	17,239		Accell Group		788
	235,071		Adidas-Salomon AG.		14,552
	8,484		Advanced Digital Broadcast Holdings S.A.		221
	20,168		AFG Arbonia-Forster Hldg		480
	58,100	*	Alpine Electronics, Inc		744
	217,709		Amer Sports Oyj (A Shares)		2,680
	196,018	*	American Apparel, Inc		241
	201,209		American Greetings Corp (Class A)		3,740
	1,359,000		Anta Sports Products Ltd		3,149
	5,676,000	*	Apollo Solar Energy Technology Holdings Ltd		366
	257,463		Arcelik AS		1,415
	69,169	*	Arctic Cat, Inc		709
	54,600		Arnest One Corp		602
	38,300		Aruze Corp		834
	118,572		Asics Corp		1,209
	243,000		Atsugi Co Ltd		291
	14,869	*	Azorim-Investment Development & Construction Co Ltd		67
	50,191	*	Bang & Olufsen AS (B Shares)		533
	1,369,946	*	Barratt Developments plc		2,125
	358,746	*	Beazer Homes USA, Inc		1,482

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	296,172		Bellway plc	$	2,680
	49,476		Beneteau S.A.		885
	77,708		Benetton Group S.p.A.		596
	179,057	*	Berkeley Group Holdings plc		2,323
	368,409		Billabong International Ltd		2,838
	25,660		Bjoern Borg AB		240
	26,026		Blyth, Inc		1,073
	162,000	*	Boshiwa International Holding		156
	185,506	*	Bovis Homes Group plc		1,112
	48,775	*	Brookfield Homes Corp		399
	608,600		Brookfield Incorporacoes SA		3,270
	388,865		Brunswick Corp		5,919
	213,831		Bulgari S.p.A.		1,936
	1,034,251		Burberry Group plc		16,897
	86,000	*	BWG Homes ASA		262
	312,908		Callaway Golf Co		2,190
	391,460	*	Carter’s, Inc		10,307
	78,777		Casio Computer Co Ltd		584
	28,783	*	Cavco Industries, Inc		1,034
	41,878		Cherokee, Inc		764
	596,000		Chigo Holding Ltd		318
	4,555,600		China Dongxiang Group Co		2,619
	1,418,000		China Ting Group Holdings Ltd		230
	24,900		Chofu Seisakusho Co Ltd		569
	129,323		Christian Dior S.A.		16,904
	1,600		Cia Hering		69
	165,000	*	Clarion Co Ltd		287
	28,500		Cleanup Corp		179
	2,257,538		Coach, Inc		96,983
	52,247		Columbia Sportswear Co		3,053
	1,368,259		Compagnie Financiere Richemont S.A.		65,875
	22,000		Corona Corp		205
	18,500	*	Corp GEO S.A. de C.V. (Series B)		53
	428,826	*	CROCS, Inc		5,579
	36,123		CSS Industries, Inc		625
	38,638	*	Culp, Inc		379
	423,181		Cyrela Brazil Realty S.A.		5,990
	30,200		Daidoh Ltd		256
	8,900		Daikoku Denki Co Ltd		100
	209,000		Daiwa Seiko, Inc		240
	283,000		Daiwabo Co Ltd		620
	223,567	*	Deckers Outdoor Corp		11,169
	82,140		De’Longhi S.p.A.		449
	32,727	*	Delta Apparel, Inc		491
	325,140	*	Desarrolladora Homex S.A. de C.V.		1,755
	54,590		Descente Ltd		330
	56,191		Dorel Industries, Inc (Class B)		1,878
	1,212,632		DR Horton, Inc		13,484
	1,159,889	*	Eastman Kodak Co		4,872
	11,270		Elco Holdings Ltd		151
	1,070,547		Electrolux AB (Series B)		26,365
	109,951		Ethan Allen Interiors, Inc		1,920

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	197		Fields Corp	$	245
	844,546	*	Fisher & Paykel Appliances Holdings Ltd		353
	25,130		Folli-Follie S.A.		493
	2,700		Forbo Holding AG.		1,484
	727,220		Formosa Taffeta Co Ltd		591
	475,266		Fortune Brands, Inc		23,397
	344,318	*	Fossil, Inc		18,521
	31,391		Foster Electric Co Ltd		796
	175,000		France Bed Holdings Co Ltd		260
	139,000		Fujitsu General Ltd		704
	31,700		Funai Electric Co Ltd		926
	199,736	*	Furniture Brands International, Inc		1,075
	533,998		Gafisa S.A.		4,119
	638,863		Garmin Ltd		19,389
	113,353		Geox S.p.A.		642
	42,645		Gerry Weber International AG.		1,747
	351,236		Giant Manufacturing Co Ltd		1,321
	68,533	*	G-III Apparel Group Ltd		2,151
	157,487	*	Gildan Activewear, Inc		4,430
	676,637		Glorious Sun Enterprises Ltd		268
	135,924		GUD Holdings Ltd		1,272
	645,000		Gunze Ltd		2,217
	12,500	*	HAJIME CONSTRUCTION Co Ltd		344
	375,390	*	Hanesbrands, Inc		9,708
	299,544	*	Harman International Industries, Inc		10,008
	1,614,907		Hasbro, Inc		71,881
	3,068,000	*	Haseko Corp		2,462
	55,400		Heiwa Corp		675
	152,282	*	Helen of Troy Ltd		3,851
	2,360		Hermes International		539
	68,300		Hitachi Koki Co Ltd		606
	47,186		Hooker Furniture Corp		549
	234,184	*	Hovnanian Enterprises, Inc (Class A)		920
	26,180		Hugo Boss AG.		1,520
	9,771		Hunter Douglas Nv		393
	315,954		Husqvarna AB (B Shares)		2,339
	2,476,000		Hutchison Harbour Ring Ltd		287
	12,024		IC Companys AS		517
	366,778	*	Iconix Brand Group, Inc		6,419
	89,433		Indesit Co S.p.A.		1,093
	91,917	*	iRobot Corp		1,707
	178,352	*	Jakks Pacific, Inc		3,146
	63,000		Japan Vilene Co Ltd		293
	113,000		Japan Wool Textile Co Ltd		868
	5,022,863	a	Jarden Corp		156,361
	116,507		JM AB		2,433
	180,455	*	Joe’s Jeans, Inc		381
	8,536	*	Johnson Outdoors, Inc		109
	452,274		Jones Apparel Group, Inc		8,883
	103,200	*	JVC KENWOOD Holdings, Inc		323
	235,026		KB Home		2,663
	42,678	*	Kenneth Cole Productions, Inc (Class A)		711

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	120,279	*	K-Swiss, Inc (Class A)	$	1,534
	889,000		Kurabo Industries Ltd		1,406
	15,363		Lacrosse Footwear, Inc		212
	267,625	*	La-Z-Boy, Inc		2,259
	192,978	*	Leapfrog Enterprises, Inc		1,058
	366,000		Lee & Man Holding Ltd		315
	605,683		Leggett & Platt, Inc		13,785
	513,559		Lennar Corp (Class A)		7,899
	130,778		LG Electronics, Inc		11,022
	29,471		LG Electronics, Inc (Preference)		980
	562,000		Li Heng Chemical Fibre Technologies Ltd		90
	944,000		Li Ning Co Ltd		2,865
	83,196	*	Libbey, Inc		1,096
	45,667	*	Lifetime Brands, Inc		690
	415,225	*	Liz Claiborne, Inc		2,525
	9,481		Loewe AG.		80
	90,139		Luxottica Group S.p.A.		2,465
	471,233		LVMH Moet Hennessy Louis Vuitton S.A.		69,122
	85,602	*	M/I Homes, Inc		888
	133,188	*	Maidenform Brands, Inc		3,842
	4,551		Maisons France Confort		191
	6,442	*,b	Mariella Burani S.p.A.		22
	48,539	*	Marine Products Corp		298
	15,300		Mars Engineering Corp		244
	1,417,688		Matsushita Electric Industrial Co Ltd		19,207
	2,406,026		Mattel, Inc		56,446
	268,321		MDC Holdings, Inc		7,789
	159,611	*	Meritage Homes Corp		3,132
	8,309,555	*	Ming Fung Jewellery Group Ltd		814
	65,000		Mitsui Home Co Ltd		294
	126,000		Mizuno Corp		561
	204,719	*	Mohawk Industries, Inc		10,912
	62,792	*	Movado Group, Inc		683
	414,179		MRV Engenharia e Participacoes S.A.		3,931
	51,156		Namco Bandai Holdings, Inc		474
	21,096		National Presto Industries, Inc		2,246
	1,388	*	Nautilus, Inc		2
	62,918		New Wave Group AB (B Shares)		392
	5,584,705		Newell Rubbermaid, Inc		99,463
	54,238		Nexity		2,060
	22,300		Nidec Copal Corp		367
	1,398,669		Nike, Inc (Class B)		112,088
	345,918		Nikon Corp		6,414
	35,231		Nisshinbo Industries, Inc		353
	211,483		Nobia AB		1,547
	21,900	*	Noritsu Koki Co Ltd		131
	36,238	*	NVR, Inc		23,465
	298,531		Onward Kashiyama Co Ltd		2,342
	62,702		Oxford Industries, Inc		1,491
	528,105		Pace plc		1,444
	1,472,000		Pacific Textile Holdings Ltd		814
	111,000		PanaHome Corp		642

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	381,050		Panasonic Corp (ADR)	$	5,175
	1,104,763		PDG Realty SA		13,157
	402,000	*,m	Peace Mark Holdings Ltd		78
	62,761	*	Perry Ellis International, Inc		1,371
	432,590	*	Persimmon plc		2,714
	119,663		Phillips-Van Heusen Corp		7,199
	476,200	*	Pioneer Corp		1,660
	10,424,857		Playmates Holdings Ltd		3,265
	3,712,428	*	Playmates Toys Ltd		136
	179,335		Polaris Industries, Inc		11,675
	323,157		Polo Ralph Lauren Corp (Class A)		29,039
	71,428	*	Poltrona Frau S.p.A.		75
	3,104,000	*	Poly Development Holdings Ltd		126
	212,499		Pool Corp		4,265
	5,027,250		Pou Chen Corp		4,401
	2,424,256	*	Pulte Homes, Inc		21,236
	245		Puma AG. Rudolf Dassler Sport		81
	640,894	*	Quiksilver, Inc		2,506
	118,765	*	RC2 Corp		2,488
	328,515	*	Redrow plc		639
	25,316		RG Barry Corp		261
	24,800		Rinnai Corp		1,459
	688,000	*	Rising Development Holdings		178
	4,575	*	Rodriguez Group		33
	32,000		Roland Corp		365
	275,920		Rossi Residencial SA		2,642
	613,000		Ruentex Industries Ltd		1,801
	84,228	*	Russ Berrie & Co, Inc		724
	226,436		Ryland Group, Inc		4,058
	10,553		Sabaf S.p.A.		276
	44,032	*	Safilo Group S.p.A.		586
	53,276		Sangetsu Co Ltd		1,161
	73,305		Sankyo Co Ltd		3,881
	536,280	*	Sanyo Electric Co Ltd		887
	162,000		Sanyo Shokai Ltd		677
	8,757		Schulthess Group		316
	200,211	*	Sealy Corp		489
	63,345		SEB S.A.		5,435
	2,167,697		Sega Sammy Holdings, Inc		33,134
	198,000	*	Seiko Holdings Corp		666
	1,461,230		Seiren Co Ltd		8,875
	2,414,699		Sekisui Chemical Co Ltd		14,607
	824,623		Sekisui House Ltd		7,409
	1,404,360	*	Sharp Corp		13,980
	168,000		Shikibo Ltd		223
	117,882		Shimano, Inc		6,241
	154,935	*	Skechers U.S.A., Inc (Class A)		3,639
	33,445		Skyline Corp		678
	2,475,081		Skyworth Digital Holdings Ltd		1,726
	277,495	*	Smith & Wesson Holding Corp		988
	2,038,597	*	Sony Corp		63,027
	157		SRI Sports Ltd		164

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	556,948	*	Standard-Pacific Corp	$	2,211
	762,959		Stanley Works		46,753
	2,043,607		Steinhoff International Holdings Ltd		6,019
	34,304	*	Steinway Musical Instruments, Inc		591
	391,500		Stella International Holdings Ltd		768
	161,253	*	Steven Madden Ltd		6,621
	85,070		Sturm Ruger & Co, Inc		1,160
	199,454		Sumitomo Forestry Co Ltd		1,398
	39,638	*	Summer Infant, Inc		310
	7,198		Swatch Group AG.		2,708
	131,676		Swatch Group AG. Reg		9,099
	126,393		Takamatsu Corp		1,687
	21,400		Tamron Co Ltd		439
	4,800,000	*	Tatung Co Ltd		946
	4,537,834	*	Taylor Woodrow plc		2,021
	1,580,972		Techtronic Industries Co		1,555
	226,823	*	Tempur-Pedic International, Inc		7,032
	48,079		Ten Cate NV		1,563
	752,000		Texwinca Holdings Ltd		858
	2,040,000	*	Theme International Holdings Ltd		245
	106,701	*	Thomson		591
	289,124	*	Timberland Co (Class A)		5,728
	12,789		Tod’s S.p.A.		1,214
	17,570		Token Corp		519
	82,000		Tokyo Style Co Ltd		636
	492,295	*	Toll Brothers, Inc		9,363
	296,328	*	TomTom NV		2,058
	100,468		Tomy Co Ltd		806
	16,400		Touei Housing Corp		165
	1,353,676		Toyobo Co Ltd		2,173
	13,074		Trigano S.A.		302
	5,396,000		Trinity Ltd		5,279
	106,193	*	True Religion Apparel, Inc		2,266
	1,288,702		Tupperware Corp		58,970
	151,531	*	Under Armour, Inc (Class A)		6,825
	230,242	*	Unifi, Inc		1,038
	624,000	*	Unitika Ltd		523
	66,682	*	Universal Electronics, Inc		1,390
	679,215	*	Urbi Desarrollos Urbanos S.A. de C.V		1,414
	507,168		VF Corp		41,091
	971,000		Victory City International Hldgs Ltd		219
	81,969	*	Volcom, Inc		1,567
	150,627		Wacoal Holdings Corp		2,034
	9,498,000	*	Wai Chun Mining Industry Group Co Ltd		299
	253,805	*	Warnaco Group, Inc		12,977
	33,572		Weyco Group, Inc		813
	529,593		Whirlpool Corp		42,876
	1,188,000		Win Hanverky Holdings Ltd		182
	295,786		Wolverine World Wide, Inc		8,581
	85,530		Woongjin Coway Co Ltd		3,330
	46,440		Yamaha Corp		539
	3,512,578		Yue Yuen Industrial Holdings		13,016
			TOTAL CONSUMER DURABLES & APPAREL		1,833,112

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
CONSUMER SERVICES - 1.9%
	208,500		888 Holdings plc	$	142
	1,299,039	*,m	ABC Learning Centres Ltd		678
	638,645		Accor S.A.		23,320
	896		Accordia Golf Co Ltd		844
	114,892	*	AFC Enterprises		1,425
	82,000		Ajisen China Holdings Ltd		129
	94,283		Ambassadors Group, Inc		1,069
	107,877	*	American Public Education, Inc		3,545
	119,747		Ameristar Casinos, Inc		2,090
	697,290	*	Apollo Group, Inc (Class A)		35,805
	305,110		Aristocrat Leisure Ltd		1,041
	5,086	*	Autogrill S.p.A.		64
	177,767	*	Bally Technologies, Inc		6,213
	430,611	*	Banyan Tree Holdings Ltd		288
	78,717		Benesse Corp		3,791
	1,335,172		Berjaya Sports Toto BHD		1,799
	98,249		Betsson AB (Series B)		1,403
	95,856	*	BJ’s Restaurants, Inc		2,699
	71,209	*	Bluegreen Corp		199
	160,208		Bob Evans Farms, Inc		4,497
	277,035	*	Boyd Gaming Corp		2,009
	84,462	*	Bridgepoint Education, Inc		1,306
	264,305		Brinker International, Inc		4,985
	79,305	*	Buffalo Wild Wings, Inc		3,798
	185,880		Burger King Holdings, Inc		4,439
	302,247		bwin Interactive Entertainment		15,676
	436,000		Cafe de Coral Holdings Ltd		1,239
	171,445	*	California Pizza Kitchen, Inc		2,925
	70,483	*	Cambium Learning Group, Inc		226
	95,238	*	Capella Education Co		7,392
	408,437	*	Career Education Corp		8,769
	32,521	*	Caribou Coffee Co, Inc		338
	1,564,646		Carnival Corp		59,785
	212,834		Carnival plc		8,365
	53,056	*	Carrols Restaurant Group, Inc		281
	143,707		CBRL Group, Inc		7,295
	146,652	*	CEC Entertainment, Inc		5,035
	4,652,400		Century City International		432
	358,877	*	Cheesecake Factory		9,499
	5,870,000	*	China Energy Development Holdings Ltd		409
	15,620,000	*	China LotSynergy Holdings Ltd		533
	5,186,000	*	China Travel International Inv HK		1,223
	105,651	*	Chipotle Mexican Grill, Inc (Class A)		18,172
	59,074		Choice Hotels International, Inc		2,154
	52,859		Churchill Downs, Inc		1,888
	34,913	*	Club Mediterranee S.A.		626
	50,799	*	Codere S.A.		533
	139,418	*	Coinstar, Inc		5,994
	87,000		Colowide Co Ltd		466

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,384,222		Compass Group plc	$	78,206
	68,492		Consumers’ Waterheater Income Fund		330
	367,021	*	Corinthian Colleges, Inc		2,576
	24,614		CPI Corp		637
	291,173		Crown Ltd		2,361
	1,477	*	Ctrip.com International Ltd (ADR)		71
	9,000		Daisyo Corp		109
	1,309,173		Darden Restaurants, Inc		56,006
	610,376	*	Denny’s Corp		1,898
	333,606		DeVry, Inc		16,417
	88,778		Dignity plc		961
	78,742	*	DineEquity, Inc		3,542
	156,793		Domino’s Pizza UK & IRL plc		1,157
	282,228	*	Domino’s Pizza, Inc		3,731
	57,800		Doutor Nichires Holdings Co Ltd		760
	90,828	*	Education Management Corp		1,333
	11,663	*	Einstein Noah Restaurant Group, Inc		124
	54,365	*	Empire Resorts, Inc		60
	890,233	*	Enterprise Inns plc		1,499
	7,361,400		Erawan Group PCL		577
	31,247	*	Euro Disney SCA		179
	77,345		Flight Centre Ltd		1,681
	32,670		Formosa International Hotels Corp		533
	80,000		Fuji Kyuko Co Ltd		457
	69,000		Fujita Kanko, Inc		312
	3,098,000	*	Galaxy Entertainment Group Ltd		2,771
	175,390	*	Gaylord Entertainment Co		5,349
	3,610,340		Genting BHD		11,602
	366,000	*	Genting Hong Kong Ltd		156
	4,589,227	*	Genting International plc		6,491
	9,546,000	*	Golden Resorts Group Ltd		443
	188,051	*	Grand Canyon Education, Inc		4,124
	445,240		Grand Korea Leisure Co Ltd		8,727
	90,015	*	Great Canadian Gaming Corp		627
	515,071		Greene King plc		3,324
	1,062,683		H&R Block, Inc		13,762
	236,059		Hillenbrand, Inc		5,078
	28,500		HIS Co Ltd		559
	97,305		Holidaybreak plc		423
	3,212	*	Home Inns & Hotels Management, Inc (ADR)		159
	941,938		Hongkong & Shanghai Hotels		1,658
	1,800,000		Hotel Properties Ltd		3,791
	328,063	*	Hurtigruten Group ASA		199
	132,393	*	Hyatt Hotels Corp		4,950
	8,700		Ichibanya Co Ltd		237
	300,000		Indian Hotels Co Ltd		659
	202,414		Intercontinental Hotels Group plc		3,612
	2,533,234		International Game Technology		36,605
	93,119		International Speedway Corp (Class A)		2,272
	180,598	*	Interval Leisure Group, Inc		2,433
	162,201		Intralot S.A.-Integrated Lottery Systems & Services		628
	187,238		Invocare Ltd		1,176

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,736	*	Isle of Capri Casinos, Inc	$	578
	273,760	*	ITT Educational Services, Inc		19,236
	237,077	*	Jack in the Box, Inc		5,083
	246,533	*	Jamba, Inc		540
	463,400		Jollibee Foods Corp		971
	106,914	*	K12, Inc		3,104
	234,670		Kangwon Land, Inc		5,104
	18,050		Kappa Create Co Ltd		378
	476,400		KFC Holdings Malaysia Bhd		481
	23,300		Kisoji Co Ltd		513
	323,661	*	Krispy Kreme Doughnuts, Inc		1,482
	3,747		Kuoni Reisen Holding		1,513
	29,900	*	Kura Corp		501
	12,300		Kyoritsu Maintenance Co Ltd		182
	1,273,990		Ladbrokes plc		2,686
	33,878	*	Landry’s Restaurants, Inc		830
	1,229,873	*	Las Vegas Sands Corp		42,861
	32,004		Learning Tree International, Inc		324
	183,135	*	Life Time Fitness, Inc		7,228
	163,268	*	Lincoln Educational Services Corp		2,353
	175,000		Little Sheep Group Ltd		118
	75,611		Lottomatica S.p.A.		1,159
	72,969		Mac-Gray Corp		885
	120,667		Marcus Corp		1,430
	1,523,419		Marriott International, Inc (Class A)		54,584
	831,771		Marston’s plc		1,210
	18,000		Matsuya Foods Co Ltd		272
	127,236		Matthews International Corp (Class A)		4,499
	72,050	*	McCormick & Schmick’s Seafood Restaurants, Inc		561
	5,030,602		McDonald’s Corp		374,831
	51,900		McDonald’s Holdings Co Japan Ltd		1,250
	1,122,213	*	Melco International Development		573
	969,697	*	Melco PBL Entertainment Macau Ltd (ADR)		4,936
	823,968	*	MGM Mirage		9,294
	216,227		Millennium & Copthorne Hotels plc		1,766
	324,900		Minor International PCL		145
	375,179	*	Mitchells & Butlers plc		1,712
	51,545	*	Monarch Casino & Resort, Inc		578
	84,409	*	Morgans Hotel Group Co		618
	35,400		MOS Food Services, Inc		643
	158,842	*	Multimedia Games, Inc		588
	582,000		NagaCorp Ltd		103
	32,007		National American University Holdings, Inc		215
	105,012	*	NH Hoteles S.A.		475
	112,373	*	O’Charleys, Inc		808
	16,000	*	Ohsho Food Service Corp		362
	133,233		OPAP S.A.		2,107
	17,637		Orascom Development Holding AG.		917
	5,076	*	Orbis S.A.		72
	137,393		Oriental Land Co Ltd		12,804
	5,696,000	*,a	Orient-Express Hotels Ltd (Class A)		63,510
	653		Pacific Golf Group International Holdings KK		416

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	96,158		Paddy Power plc	$	3,374
	506,436		Paliburg Holdings Ltd		200
	209,345	*	Panera Bread Co (Class A)		18,550
	152,530	*	Papa John’s International, Inc		4,024
	5,703,370	*	PartyGaming plc		24,683
	52,152	*	Peet’s Coffee & Tea, Inc		1,785
	1,343,403	*	Penn National Gaming, Inc		39,778
	100,881		PF Chang’s China Bistro, Inc		4,661
	6,428		Pierre & Vacances		418
	278,232	*	Pinnacle Entertainment, Inc		3,102
	27,600		Plenus Co Ltd		419
	32,177	*	Pre-Paid Legal Services, Inc		2,011
	81,435	*	Princeton Review, Inc		166
	1,286,993	*	Punch Taverns plc		1,783
	2,381,000	*	Raffles Education Corp Ltd		507
	654,624		Rank Group plc		1,205
	60,224	*	Red Lion Hotels Corp		448
	87,276	*	Red Robin Gourmet Burgers, Inc		1,711
	737,000		Regal Hotels International Holdings Ltd		319
	303,976		Regis Corp		5,815
	5,606,800		Resorts World BHD		6,157
	105,000		Resorttrust, Inc		1,573
	645,819		Restaurant Group plc		2,679
	33,856,200		Rexcapital Financial Holdings Ltd		3,229
	117,096	*	Rezidor Hotel Group AB		598
	19,200		Ringer Hut Co Ltd		222
	178,300		Round One Corp		651
	780,889	*	Royal Caribbean Cruises Ltd		24,621
	33,700		Royal Holdings Co Ltd		333
	329,110	*	Ruby Tuesday, Inc		3,907
	112,605	*	Ruth’s Chris Steak House, Inc		452
	75,700		Saizeriya Co Ltd		1,458
	25,176,300	*,f	Sands China Ltd		45,428
	287,772	*	Scientific Games Corp (Class A)		2,791
	819,689		Service Corp International		7,066
	1,002,613		Shangri-La Asia Ltd		2,282
	234,511	*	Shuffle Master, Inc		1,972
	2,384,000	*,m	SITC International Co Ltd		1,469
	3,551,633		SJM Holdings Ltd		4,056
	45,709		SkiStar AB (Series B)		951
	513,349		Sky City Entertainment Group Ltd		1,066
	121,305	*	Snai S.p.A.		442
	4,203		Sodexho Alliance S.A.		273
	77,742		Sol Melia S.A.		697
	262,193	*	Sonic Corp		2,119
	506,204		Sotheby’s (Class A)		18,637
	54,414		Speedway Motorsports, Inc		853
	657,911		Sportingbet plc		819
	10,200		St Marc Holdings Co Ltd		382
	674,000		Stamford Land Corp Ltd		272
	822		Starbucks Coffee Japan Ltd		412
	3,519,595		Starbucks Corp		90,032

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,204,508		Starwood Hotels & Resorts Worldwide, Inc	$	63,297
	6,666	*	Steak N Shake Co		2,191
	70,501	*	Steiner Leisure Ltd		2,686
	381,601		Stewart Enterprises, Inc (Class A)		2,057
	60,751		Strayer Education, Inc		10,601
	1,015,902		TABCORP Holdings Ltd		6,873
	1,360,768		Tattersall’s Ltd		3,143
	257,089	*	Texas Roadhouse, Inc (Class A)		3,615
	72,391		Thomas Cook Group plc		195
	155,394		Tim Hortons, Inc		5,658
	298,226		Tim Hortons, Inc (Toronto)		10,864
	5,667	*	Tipp24 SE		209
	252,000		Tokyo Dome Corp		643
	210,000		Tokyotokeiba Co Ltd		302
	107		Toridoll.corp		187
	6,265	*	TUI AG.		77
	96,137		TUI Travel plc		324
	179,262		Universal Technical Institute, Inc		3,505
	82,735		UP, Inc		565
	171,574	*	Vail Resorts, Inc		6,437
	28,900		WATAMI Co Ltd		553
	151,373		Weight Watchers International, Inc		4,721
	949,765		Wendy’s/Arby’s Group, Inc (Class A)		4,302
	155,048		Wetherspoon (J.D.) plc		1,070
	13,183		Whitbread plc		336
	1,214,474		William Hill plc		3,167
	312,293	*	WMS Industries, Inc		11,889
	757,749		Wyndham Worldwide Corp		20,815
	8,010,400	*	Wynn Macau Ltd		13,855
	222,904		Wynn Resorts Ltd		19,341
	335,000		YBM Sisa.com, Inc		2,427
	50,000		Yomiuri Land Co Ltd		178
	644		Yoshinoya D&C Co Ltd		798
	2,196,561		Yum! Brands, Inc		101,175
	105,200		Zensho Co Ltd		1,027
			TOTAL CONSUMER SERVICES		1,855,495
DIVERSIFIED FINANCIALS - 6.0%
	794,110		3i Group plc		3,574
	33,714		ABC Arbitrage		315
	941,394		Aberdeen Asset Management plc		2,374
	346,278		ABG Sundal Collier ASA		390
	34,505		Ackermans & Van Haaren		2,754
	28,328		Acom Co Ltd		429
	412,080		Advance America Cash Advance Centers, Inc		1,661
	70,619		Aeon Credit Service Co Ltd		760
	778,303		Aeon Thana Sinsap Thailand PCL		833
	150,000	*	Aeon Thana Sinsap Thailand Pcl (ADR)		161
	774,132	*	Affiliated Managers Group, Inc		60,390
	1,052,495		African Bank Investments Ltd		5,413
	127,643		AGF Management Ltd		1,992
	315,650		Aiful Corp		280

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	94,654	*	Altamir Amboise	$	702
	1,690,870	*	American Capital Ltd		9,824
	4,583,442		American Express Co		192,641
	205,138	*	AmeriCredit Corp		5,018
	932,401		Ameriprise Financial, Inc		44,131
	4,155,867		AMMB Holdings Berhad		7,983
	957,319		Apollo Investment Corp		9,793
	1,075,200	f,g	ARA Asset Management Ltd		997
	601,271		Ares Capital Corp		9,410
	168,950		Artio Global Investors, Inc		2,585
	399,434		Ashmore Group plc		2,100
	72,029	*	Asset Acceptance Capital Corp		387
	41,991		Asta Funding, Inc		320
	326,101		Australian Stock Exchange Ltd		10,266
	33,124		Avanza AB		1,135
	259,616		Ayala Corp		2,417
	2,215	*	Ayala Corp Preferred		0	^
	149,967		Azimut Holding S.p.A.		1,474
	150,556		Banca Finnat Euramerica S.p.A.		107
	79,794		Banca Generali S.p.A		974
	17,050		Banca IFIS S.p.A.		121
	319,925	*	Banca Profilo S.p.A.		215
	16,200		Banco Compartamos S.A. de CV		103
	57,459,015		Bank of America Corp		753,287
	3,307,945		Bank of New York Mellon Corp		86,437
	130,572		Bank Sarasin & Compagnie AG.		5,049
	332,666		BGC Partners, Inc (Class A)		1,986
	101,202		BinckBank NV		1,413
	373,949		BlackRock Kelso Capital Corp		4,300
	110,896		BlackRock, Inc		18,880
	125,208		BlueBay Asset Management plc		678
	4,181,732		BM&FBOVESPA S.A.		34,971
	111,347		Bolsas y Mercados Espanoles		2,977
	31,677	*	Boursorama		378
	331,884		Brewin Dolphin Holdings plc		687
	569,675	*	Broadpoint Securities Group, Inc		917
	84,081		BT Investment Management Ltd		198
	110,672		Bure Equity AB		524
	426,600		Bursa Malaysia BHD		1,124
	134,283		Calamos Asset Management, Inc (Class A)		1,544
	3,489		California First National Bancorp		44
	109,805		Canaccord Capital, Inc		1,107
	1,534,625		Capital One Financial Corp		60,693
	1,406,923		Capital Securities Corp		637
	14,975		Capital Southwest Corp		1,360
	210,820	*	Cardtronics, Inc		3,253
	157,280		Cash America International, Inc		5,505
	628,465	*,m	Cattles plc		68
	27,100		CBOE Holdings, Inc		543
	105,980		Century Leasing System, Inc		1,278
	1,135,748		Challenger Financial Services Group Ltd		4,644
	4,459,407		Charles Schwab Corp		61,986

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,358,000		China Everbright Ltd	$	3,234
	223,914		CI Financial Corp		4,516
	133,579,856	*	Citigroup, Inc		520,960
	201,965		Close Brothers Group plc		2,340
	188,490		CME Group, Inc		49,092
	80,996		Cohen & Steers, Inc		1,758
	702,072		Collins Stewart plc		926
	4,900		Compagnie Financiere Tradition S.A.		546
	145,716		Compass Diversified Trust		2,355
	81,893		CompuCredit Corp		395
	21,140		Corp Financiera Alba		1,039
	207,933		Count Financial Ltd		243
	151,040	*	Cowen Group, Inc		497
	22,929	*	Credit Acceptance Corp		1,389
	534,663		Credit Saison Co Ltd		7,148
	4,554,800		Credit Suisse Group		194,679
	3,083,361		Criteria Caixacorp S.A.		16,196
	29,100	*,m	D Carnegie AB		77
	27,398		DAB Bank AG.		155
	175,020		Daewoo Securities Co Ltd		3,860
	3,120		Daishin Securities Co Ltd		41
	1,814,579	*	Daiwa Securities Group, Inc		7,325
	47,116		Davis & Henderson Income Fund		877
	130,557	*	DeA Capital S.p.A.		223
	450,562		Deutsche Bank AG.		24,658
	19,474		Deutsche Beteiligungs AG.		499
	921,434		Deutsche Boerse AG.		61,482
	12,883		Diamond Hill Investment Group, Inc		940
	13,958		Dinamia		164
	2,846,323		Discover Financial Services		47,476
	112,351	*	Dollar Financial Corp		2,345
	202,331		Duff & Phelps Corp		2,725
	151,320	*	Dundee Corp		2,005
	104,270		DundeeWealth, Inc		1,462
	6,144,830	*	E*Trade Financial Corp		89,346
	41,398	*	East Capital Explorer AB		441
	424,931		Eaton Vance Corp		12,340
	72,240		EFG International		834
	922,435		Egypt Kuwait Holding Co		1,467
	376,164		Egyptian Financial Group-Hermes Holding		1,921
	21,043	*	Elron Electronic Industries		124
	66,391	*	Encore Capital Group, Inc		1,196
	57,605		Epoch Holding Corp		742
	23,711		Eurazeo		1,591
	67,372		Evercore Partners, Inc (Class A)		1,928
	321,315		Evolution Group plc		421
	173,483		Exor S.p.A.		4,021
	201,895	*	Ezcorp, Inc (Class A)		4,046
	639,466		F&C Asset Management plc		650
	225,756	*	FBR Capital Markets Corp		709
	186,662		Federated Investors, Inc (Class B)		4,248
	215,851		Fifth Street Finance Corp		2,405

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,330		Fimalac	$	495
	64,799	*	Financial Engines, Inc		861
	196,964	*	First Cash Financial Services, Inc		5,466
	290,684	*	First Marblehead Corp		680
	3,013,501		First Pacific Co		2,738
	4,096,000		First Shanghai Investments Ltd		633
	5,517,695		FirstRand Ltd		16,988
	222,880		FlexiGroup Ltd		318
	337,376		Franklin Resources, Inc		36,065
	57,567		Friedman Billings Ramsey Group, Inc (Class A)		1,342
	10,536,594		Fubon Financial Holding Co Ltd		12,968
	9,114,992		Fuhwa Financial Holdings Co Ltd		5,543
	32,500		Fuyo General Lease Co Ltd		813
	33,706		GAMCO Investors, Inc (Class A)		1,299
	283,501	*	Gartmore Group Ltd		475
	117		GCA Savvian Group Corp		112
	296,679		GFI Group, Inc		1,377
	25,337		Gimv NV		1,304
	140,741		Gladstone Capital Corp		1,586
	119,506		Gladstone Investment Corp		801
	379,144	*	GLG Partners, Inc		1,706
	19,448		Gluskin Sheff + Associates, Inc		345
	103,601		GMP Capital, Inc		1,075
	2,941,163		Goldman Sachs Group, Inc		425,234
	28,290		Golub Capital BDC, Inc		433
	17,598		Gottex Fund Management Holdings Ltd		89
	10,700	*	Green Dot Corp		519
	59,430		Greenhill & Co, Inc		4,714
	11,375		Grenkeleasing AG.		558
	71,507		Groupe Bruxelles Lambert S.A.		5,958
	883	*	Groupe Bruxelles Lambert S.A. - STR VVPR		0	^
	10,262,413		Guinness Peat Group plc		5,045
	1,036,969		Haci Omer Sabanci Holding AS		5,376
	364,096		Hargreaves Lansdown plc		2,517
	138,691	*	Harris & Harris Group, Inc		592
	153,846		Hellenic Exchanges S.A.		1,101
	1,112,024		Henderson Group plc		2,170
	213,788		Hercules Technology Growth Capital, Inc		2,161
	82,154	*	HFF, Inc (Class A)		762
	85,600		Hitachi Capital Corp		1,167
	1,173,533		Hong Kong Exchanges and Clearing Ltd		23,111
	108,693		HQ AB		149
	173,167		Hyundai Securities Co		2,430
	30,100		IBJ Leasing Co Ltd		589
	12,335,110		ICAP plc		83,613
	216,800		Ichiyoshi Securities Co Ltd		1,506
	682,240		IG Group Holdings plc		5,329
	279,720		IGM Financial, Inc		11,364
	18,736		Indiabulls Financial Services Ltd		59
	18,736		Indiabulls Securities Ltd		11
	1,339,909		Infrastructure Development Finance Co Ltd		6,046
	11,805,767	*	ING Groep NV		122,476

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	71,683	*	Interactive Brokers Group, Inc (Class A)	$	1,234
	337,069	*	IntercontinentalExchange, Inc		35,298
	4,870	f	Intergroup Financial Services Corp		141
	908,846		Intermediate Capital Group plc		4,269
	88,790	*	International Assets Holding Corp		1,607
	671,179		International Personal Finance plc		2,845
	4,595,025		Invesco Ltd		97,552
	329,634		Investec Ltd		2,812
	1,495,367		Investec plc		11,945
	230,404	*	Investment Technology Group, Inc		3,276
	425,889		Investor AB (B Shares)		8,650
	889,616		IOOF Holdings Ltd		5,787
	1,520,622	*	IPATH S&P 500 VIX S		26,337
	3,143,000		iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		5,023
	1,100,000		iShares MSCI Canada Index Fund		30,833
	1,220,171		iShares MSCI EAFE Index Fund		67,012
	267,741		iShares MSCI EMERGING MKT		11,987
	473,307		iShares Russell 2000 Index Fund		31,934
	22,000		Iwai Securities Co Ltd		167
	179,000		Jaccs Co Ltd		317
	141,318	*	Jafco Co Ltd		3,337
	439,376		Janus Capital Group, Inc		4,811
	8,823,000	*,a	Japan Asia Investment Co Ltd		5,284
	1,233,100		Japan Securities Finance Co Ltd		7,061
	239,972		Jefferies Group, Inc		5,445
	2,920,000	*	Jia Sheng Holdings Ltd		440
	106,381		JMP Group, Inc		649
	19,465,661		JPMorgan Chase & Co		741,057
	1,074,105		Julius Baer Group Ltd		39,099
	646,345		Julius Baer Holding AG.		9,801
	846,000		K1 Ventures Ltd		100
	113,800		kabu.com Securities Co Ltd		435
	79,360	*	Kardan NV		402
	16,102		KAS Bank NV		257
	47,901		Kayne Anderson Energy Development Co		769
	43,613	*	KBC Ancora		955
	161,898		KBW, Inc		4,145
	3,918,000		KGI Securities Co Ltd		1,762
	7,222,490		Kim Eng Holdings Ltd		9,721
	205,474		Kinnevik Investment AB (Series B)		4,350
	464,754	*	Knight Capital Group, Inc (Class A)		5,758
	52,800		Korea Investment Holdings Co Ltd		1,621
	460,154		Kotak Mahindra Bank Ltd		4,878
	167,271	*	LaBranche & Co, Inc		652
	388,402	*	Ladenburg Thalmann Financial Services, Inc		396
	440,992		Lazard Ltd (Class A)		15,470
	997,924		Legg Mason, Inc		30,247
	613,030	*	Leucadia National Corp		14,480
	34,130		Life Partners Holdings, Inc		649
	122,095		London Stock Exchange Group plc		1,306
	29,283		Lundbergs AB (B Shares)		1,747

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	615,519	*	Macquarie Group Ltd	$	21,578
	54,374		Main Street Capital Corp		864
	1,429,651		Man Group plc		4,921
	944,502		Marfin Investment Group S.A		1,017
	121,208		MarketAxess Holdings, Inc		2,058
	35,042	*	Marlin Business Services Corp		421
	93,300		Marusan Securities Co Ltd		479
	456,300		Matsui Securities Co Ltd		2,553
	361,751		MCG Capital Corp		2,113
	76,592		Medallion Financial Corp		597
	590,520		Mediobanca S.p.A.		5,490
	4,301,806	*	MF Global Holdings Ltd		30,973
	31,109		Mirae Asset Securities Co Ltd		1,632
	68,000		Mito Securities Co Ltd		130
	458,193		Mitsubishi UFJ Lease & Finance Co Ltd		16,109
	1,024,000	*	Mizuho Investors Securities Co Ltd		981
	70,760		MLP AG.		721
	1,452		Monex Beans Holdings, Inc		489
	1,444,819		Moody’s Corp		36,092
	11,669,054		Morgan Stanley		287,993
	13,225	*	MPC Muenchmeyer Petersen Capital AG.		63
	344,981	*	MSCI, Inc (Class A)		11,457
	115,001		MVC Capital, Inc		1,492
	387,141	*	Nasdaq Stock Market, Inc		7,522
	22,496		Nationale A Portefeuille		1,173
	149,306		Nelnet, Inc (Class A)		3,416
	103,557	*	NewStar Financial, Inc		767
	137,042		NGP Capital Resources Co		1,242
	3,095,960	*	Nomura Holdings, Inc		14,983
	112,050		Nordnet AB (Series B)		462
	501,604		Northern Trust Corp		24,197
	692,000		NYSE Euronext		19,770
	322,000		Okasan Holdings, Inc		1,076
	357,999		OKO Bank (Class A)		4,356
	213,200	*	OMC Card, Inc		342
	137,664		Onex Corp		3,868
	55,205		Oppenheimer Holdings, Inc		1,543
	183,656	*	optionsXpress Holdings, Inc		2,821
	51,739		Oresund Investment AB		798
	366,000	*	Orient Corp		254
	570,075		ORIX Corp		43,568
	585		Osaka Securities Exchange Co Ltd		2,870
	5,933		OZ Holding AG.		156
	1,071,000		Pacific Century Regional Developments Ltd		159
	31,934		Pargesa Holding S.A.		2,332
	21,236		Partners Group		3,518
	172,399		PennantPark Investment Corp		1,829
	143,570	*	Penson Worldwide, Inc		714
	517,000	*,m	Peregrine Investment Holdings		0	^
	140,748		Perpetual Trustees Australia Ltd		4,134
	260,634	*	PHH Corp		5,489
	10,300		Philippine Stock Exchange, Inc		96

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	98,797	*	Pico Holdings, Inc	$	2,950
	197,124	*	Pinetree Capital Ltd		353
	74,262	*	Piper Jaffray Cos		2,163
	8,418,585		Polaris Securities Co Ltd		4,177
	5,491,160		Polytec Asset Holdings Ltd		963
	73,554	*	Portfolio Recovery Associates, Inc		4,755
	87,444	*	Primus Guaranty Ltd		399
	140,768		Promise Co Ltd		1,056
	355,708		Prospect Capital Corp		3,454
	194,732		Provident Financial plc		2,521
	480,000		Public Financial Holdings Ltd		304
	36,545		Pzena Investment Management, Inc (Class A)		251
	198,719	*	Quest Capital Corp		352
	60,199		Rathbone Brothers		800
	126,456		Ratos AB (B Shares)		4,368
	204,085		Raymond James Financial, Inc		5,169
	141,689		Reliance Capital Ltd		2,461
	648,714		Remgro Ltd		10,152
	619		Rewards Network, Inc		9
	177,726	*	RHJ International		1,466
	42,700		Ricoh Leasing Co Ltd		1,055
	4,343		Risa Partners, Inc		1,943
	1,082,123		RMB Holdings Ltd		5,892
	83,598	*	Rodman & Renshaw Capital Group, Inc		180
	360,311		Rural Electrification Corp Ltd		2,749
	98,836	*	Safeguard Scientifics, Inc		1,238
	86,435		Samsung Card Co		4,351
	72,960		Samsung Securities Co Ltd		4,153
	122,143		Sanders Morris Harris Group, Inc		691
	16,796	*	SBI Holdings, Inc		2,107
	120,324		Schroders plc		2,718
	558,639		SEI Investments Co		11,363
	5	b,m	SFCG Co Ltd		0	^
	385,000		Shenyin Wanguo HK Ltd		168
	2,109,625		Shinko Securities Co Ltd		4,827
	1,289,676		Singapore Exchange Ltd		8,846
	25,000	*	SKS Microfinance Pvt Ltd		744
	1,786,825	*	SLM Corp		20,638
	286,271	*	SNS Reaal		1,173
	744		Societa Partecipazioni Finanziarie S.p.A.		0	^
	27,188		Solar Capital Ltd		583
	1,243	*	Sparx Group Co Ltd		106
	1,510,887		SPDR Trust Series 1		172,422
	63,868		Sprott, Inc		313
	3,985,776		State Street Corp		150,104
	151,665	*	Stifel Financial Corp		7,021
	18,322		Student Loan Corp		544
	383,793		Suramericana de Inversiones S.A.		8,172
	12,751		Swissquote Group Holding S.A.		511
	123,749		SWS Group, Inc		887
	542,005		T Rowe Price Group, Inc		27,135
	333,123		Tai Fook Securities Group Ltd		223

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	170,000		Takagi Securities Co Ltd	$	236
	207,400		Takefuji Corp		10
	473,782	*	TD Ameritrade Holding Corp		7,652
	33,963		THL Credit, Inc		400
	152,797		TICC Capital Corp		1,581
	131,129		TMX Group, Inc		4,031
	565,680		Tokai Tokyo Securities Co Ltd		1,863
	99,131		Tong Yang Investment Bank		926
	80	*	Toronto Dominion Bank/ny		6
	93,000		Toyo Securities Co Ltd		139
	191,835	*	TradeStation Group, Inc		1,262
	48,316		Triangle Capital Corp		772
	521,573		Tullett Prebon plc		3,256
	11,040,270	*	UBS A.G. (Switzerland)		187,403
	5,916		Union Financiere de France BQE S.A.		220
	967,565		UOB-Kay Hian Holdings Ltd		1,148
	142,337	*	Uranium Participation Corp		901
	372,672		Utilities Select Sector SPDR F		11,683
	1,162,000		Value Partners Group Ltd		812
	8,236		Verwalt & Privat-Bank AG.		830
	29,114	*	Virtus Investment Partners, Inc		881
	82,584		Vontobel Holding AG.		2,689
	103,050	*	Vostok Nafta Investment Ltd		401
	342,739		Waddell & Reed Financial, Inc (Class A)		9,377
	242,772		Waterland Financial Holdings		73
	26,242		Westwood Holdings Group, Inc		888
	148,400		Woori Investment & Securities Co Ltd		2,714
	84,506	*	World Acceptance Corp		3,732
			TOTAL DIVERSIFIED FINANCIALS		5,929,277
ENERGY - 9.7%
	306,270	*	Abraxas Petroleum Corp		870
	431,446		Acergy S.A.		7,960
	16,789,000		Adaro Energy Tbk		3,809
	254,207	*	Advantage Oil & Gas Ltd		1,606
	1,845,831	*	Afren plc		3,207
	35,690		Aker ASA (A Shares)		704
	50,554		Aker Kvaerner ASA		733
	159,883	*	Allis-Chalmers Energy, Inc		667
	75,002		Alon USA Energy, Inc		405
	422,364	*	Alpha Natural Resources, Inc		17,380
	112,619		AltaGas Income Trust		2,342
	14,848		AMEC plc		230
	224,088	*	American Oil & Gas, Inc		1,815
	2,257,973		Anadarko Petroleum Corp		128,817
	76,800	*	Angle Energy, Inc		564
	182,616		Anglo Pacific Group plc		865
	87,600		AOC Holdings, Inc		381
	3,599,954		Apache Corp		351,932
	43,524		APCO Argentina, Inc		1,506
	57,920	*	Approach Resources, Inc		648
	180,066	*	Aquila Resources Ltd		1,427

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	478,230		ARC Energy Trust	$	9,552
	357,892		Arch Coal, Inc		9,559
	595,671	*	Athabasca Oil Sands Corp		5,992
	175,960	*	Atlas America, Inc		5,039
	185,038	*	ATP Oil & Gas Corp		2,526
	155,679	*	Atwood Oceanics, Inc		4,740
	767,813		Australian Worldwide Exploration Ltd		1,150
	2,221,289		Baker Hughes, Inc		94,627
	316,526	*	Bankers Petroleum Ltd		2,501
	323,450		Banpu PCL		7,673
	115,417	*	Basic Energy Services, Inc		983
	251,484		Baytex Energy Trust		9,110
	2,982,468		Beach Petroleum Ltd		1,960
	259,052		Berry Petroleum Co (Class A)		8,220
	4,365,043		BG Group plc		76,696
	316,411		Bharat Petroleum Corp Ltd		5,278
	239,913	*	Bill Barrett Corp		8,637
	132,013	*	Birchcliff Energy Ltd		1,124
	416,400	*	BlackPearl Resources, Inc		1,542
	231,539		Bonavista Energy Trust		5,376
	47,225		Bonterra Oil & Gas Ltd		1,952
	517,045	*	Borders & Southern Petroleum plc		585
	69,499		Bourbon S.A.		2,837
	607,000		Boustead Singapore Ltd		457
	338,142	*	Bow Energy Ltd		435
	281,288	*	BowLeven plc		793
	24,866,145		BP plc		167,108
	298,579		BP plc (ADR)		12,292
	423,728	*	BPZ Energy, Inc		1,623
	516,486	*	Brigham Exploration Co		9,684
	4,284,000	*	Brightoil Petroleum Holdings Ltd		1,811
	183,445	*	Bristow Group, Inc		6,619
	233,000	*	BW Offshore Ltd		412
	448,662		Cabot Oil & Gas Corp		13,509
	5,813,306	*	Cairn Energy plc		41,423
	713,612	*	Cairn India Ltd		5,320
	499,884	*	Cal Dive International, Inc		2,734
	41,897		Calfrac Well Services Ltd		1,043
	125,335	*	Callon Petroleum Co		620
	653,708		Caltex Australia Ltd		7,576
	114,620	*	Calvalley Petroleums, Inc		398
	327,279	*	Cam Finanziaria S.p.A.		163
	463,249		Cameco Corp		12,877
	1,108,469	*	Cameron International Corp		47,620
	3,238,895		Canadian Natural Resources Ltd (Canada)		112,034
	288,766		Canadian Oil Sands Trust		7,145
	83,847		CARBO Ceramics, Inc		6,792
	508,896	*	Carbon Energy Ltd		221
	898,797	*	Carnarvon Petroleum Ltd		378
	135,350	*	Carrizo Oil & Gas, Inc		3,240
	31,557		CAT Oil AG.		286
	95,111	*	Celtic Exploration Ltd		1,194

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	968,701		Cenovus Energy, Inc	$	27,859
	732,010		Centennial Coal Co Ltd		4,365
	411,000		CH Offshore Ltd		172
	546,000		Chemoil Energy Ltd		191
	272,246	*	Cheniere Energy, Inc		686
	1,539,298		Chesapeake Energy Corp		34,865
	8,489,096		Chevron Corp		688,041
	799,000		China Aviation Oil Singapore Corp Ltd		905
	16,569,000		China Coal Energy Co		27,420
	4,474,000		China Oilfield Services Ltd		7,000
	5,855,799		China Shenhua Energy Co Ltd		24,227
	570,617	*	Chinook Energy Inc		1,342
	595,242		Cimarex Energy Co		39,393
	26,577	*	Clayton Williams Energy, Inc		1,345
	187,599	*	Clean Energy Fuels Corp		2,666
	166,534	*	Cloud Peak Energy, Inc		3,039
	39,592,000		CNOOC Ltd		76,746
	3,148,121	*	Cobalt International Energy, Inc		30,065
	6,391	*	Compagnie Generale de Geophysique S.A.		140
	389,533	*	Complete Production Services, Inc		7,966
	1,589,617	*	Compton Petroleum Corp		819
	99,321	*	Comstock Resources, Inc		2,234
	3,429,717	*	Concho Resources, Inc		226,944
	896,157	*	Connacher Oil and Gas Ltd		1,045
	5,685,134		ConocoPhillips		326,497
	563,942		Consol Energy, Inc		20,843
	96,214	*	Contango Oil & Gas Co		4,826
	64,149	*	Continental Resources, Inc		2,974
	198,492		Core Laboratories NV		17,475
	121,588	*	Corridor Resources, Inc		632
	1,223,000		Cosmo Oil Co Ltd		3,194
	4,173,451		Crescent Point Energy Corp		153,772
	200,970	*,m	Crescent Point Energy Corp 144A		7,405
	104,128	*	Crew Energy, Inc		1,843
	189,565	*	Crosstex Energy, Inc		1,498
	351,102		Crude Carriers Corp		6,320
	137,583	*	CVR Energy, Inc		1,135
	42,447		D/S Torm AS		316
	72,581		d’aAmico International Shipping SA		108
	2,641	*	Daldrup & Soehne AG.		89
	245,701	*	Dart Energy Ltd		280
	35,932	*	Dawson Geophysical Co		958
	296,564		Daylight Resources Trust		2,839
	113,500	*	Deep Sea Supply plc		214
	668,838	*	Deep Yellow Ltd		113
	232,896	*	Delek Drilling-LP		923
	1,733	*	Delek Energy Systems Ltd		641
	64,714		Delek US Holdings, Inc		463
	653,306	*	Delta Petroleum Corp		514
	15,867,691	*	Denbury Resources, Inc		252,138
	395,408	*	Denison Mines Corp		646
	370,044	*	Desire Petroleum plc		897

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	74,095	*	Det Norske Oljeselskap ASA	$	286
	1,274,701		Devon Energy Corp		82,524
	226,304		DHT Maritime, Inc		935
	157,889		Diamond Offshore Drilling, Inc		10,700
	1,091,662	*	DNO International ASA		1,674
	17,117	*	Dockwise Ltd		425
	59,800	*	DOF ASA		441
	191,588	*	Dresser-Rand Group, Inc		7,068
	419,873	*	Dril-Quip, Inc		26,078
	977,650	*	Eastern Star Gas Ltd		832
	7,044,357		Ecopetrol S.A.		14,468
	2,518,367		El Paso Corp		31,177
	14,400		Enbridge Income Fund		222
	924,097		Enbridge, Inc		48,401
	865,330		EnCana Corp		26,147
	747,975	*	Endeavour International Corp		965
	166,138	*	Energy Partners Ltd		1,995
	744,417		Energy Resources of Australia Ltd		9,570
	222,960	*	Energy XXI Bermuda Ltd		5,153
	196,322		Enerplus Resources Fund		5,056
	1,717,587		ENI S.p.A.		37,066
	825,026	*	EnQuest plc		1,501
	575,464		Ensco International plc (ADR)		25,741
	142,306		Ensign Energy Services, Inc		1,747
	108,004		Enterprise Products Partners LP		4,285
	6,224		Envitec Biogas AG.		95
	709,683		EOG Resources, Inc		65,979
	330,776		Equitable Resources, Inc		11,928
	142,464		ERG S.p.A.		1,925
	9,495		Esso SA Francaise		1,239
	108,273		Etablissements Maurel et Prom		1,489
	32,386		Euronav NV		613
	63,039	*	Evolution Petroleum Corp		379
	305,855		EXCO Resources, Inc		4,548
	442,638	*	Exterran Holdings, Inc		10,052
	103,318	*	Extract Resources Ltd		610
	18,964,971		Exxon Mobil Corp		1,171,847
	572,000		Ezion Holdings Ltd		294
	581,000		Ezra Holdings Ltd		760
	168,196	*	Fairborne Energy Ltd		693
	134,810	*	Falkland Oil & Gas Ltd		275
	190,854	*	Faroe Petroleum plc		600
	99,359		Fersa Energias Renovables S.A.		152
	82,190	*	Flint Energy Services Ltd		1,228
	471,687	*	FMC Technologies, Inc		32,212
	261,603	*	Forest Oil Corp		7,770
	2,133,580		Formosa Petrochemical Corp		5,498
	109,352	*	Forsys Metals Corp		213
	46,524		Fred Olsen Energy ASA		1,622
	453,975		Frontier Oil Corp		6,083
	167,668		Frontline Ltd		4,767
	98,095		Frontline Ltd (Norway)		2,780

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,003		Fugro NV	$	263
	208,498	*	FX Energy, Inc		863
	124,007	*	Galleon Energy, Inc		424
	139,702		Galp Energia SGPS S.A.		2,411
	248,040	*	Gastar Exploration Ltd		997
	4,063,281		Gazprom (ADR)		85,288
	43,644		Gazpromneft OAO (ADR)		831
	298,510		General Maritime Corp		1,466
	55,453	*	Georesources, Inc		882
	30,763	*	Global Geophysical Services, Inc		224
	490,478	*	Global Industries Ltd		2,683
	120,401	*	GMX Resources, Inc		585
	1,000	*	Golar LNG Energy Ltd		1
	166,379		Golar LNG Ltd		2,083
	108,906	*	Goodrich Petroleum Corp		1,587
	97,433	*	Green Plains Renewable Energy, Inc		1,180
	199,068	*	Grupa Lotos S.A.		2,137
	165,464		GS Holdings Corp		8,010
	78,155		Gulf Island Fabrication, Inc		1,422
	906,087	*	Gulf Keystone Petroleum Ltd		1,993
	106,419	*	Gulfmark Offshore, Inc		3,269
	184,968	*	Gulfport Energy Corp		2,560
	188,374	*	Gulfsands Petroleum plc		956
	8,508		Hallador Petroleum Co		99
	4,094,192		Halliburton Co		135,396
	74,919	*	Hardy Oil & Gas plc		247
	144,649	*	Harvest Natural Resources, Inc		1,507
	518,822	*	Helix Energy Solutions Group, Inc		5,780
	167,614		Hellenic Petroleum S.A.		1,264
	296,884		Helmerich & Payne, Inc		12,012
	637,607	*	Hercules Offshore, Inc		1,690
	281,511		Heritage Oil Ltd		1,313
	1,278,364		Hess Corp		75,577
	104,993		Holly Corp		3,019
	1,394,691	*	Horizon Oil Ltd		411
	115,952	*	Hornbeck Offshore Services, Inc		2,260
	79,251		Houston American Energy Corp		793
	158,341		Hunting PLC		1,546
	343,784		Husky Energy, Inc		8,360
	71,690		Idemitsu Kosan Co Ltd		6,149
	769,147		Imperial Oil Ltd		29,147
	715,500		Indo Tambangraya Megah Pt		3,335
	943,618		Inner Mongolia Yitai Coal Co		5,363
	1,671		Inpex Holdings, Inc		7,867
	645,174	*	International Coal Group, Inc		3,432
	685,776	*	ION Geophysical Corp		3,525
	17,003,400		IRPC PCL		2,331
	5,237	*	Isramco, Inc		315
	92,953		Itochu Enex Co Ltd		442
	376,273	*	Ivanhoe Energy, Inc		801
	88,013		James Fisher & Sons plc		682
	112,438	*	James River Coal Co		1,971

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,100	*	Japan Drilling Co Ltd	$	152
	15,500		Japan Petroleum Exploration Co		584
	11,100	*	Jerusalem Oil Exploration		228
	390,793		JKX Oil & Gas plc		1,978
	803,177		John Wood Group plc		5,509
	1,734,075	*	JX Holdings, Inc		10,054
	40,000		Kanto Natural Gas Development Ltd		211
	189,742	*	Karoon Gas Australia Ltd		1,385
	161,921	f	KazMunaiGas Exploration Production (GDR)		2,861
	644,438	*	Key Energy Services, Inc		6,129
	89,248		Keyera Facilities Income Fund		2,731
	81,019		Knightsbridge Tankers Ltd		1,531
	530,844	*	Kodiak Oil & Gas Corp		1,800
	70,695	*	L&L Energy, Inc		567
	373,336		Linc Energy Ltd		641
	132,673		Lufkin Industries, Inc		5,824
	753,986		LUKOIL (ADR)		42,826
	315,858	*	Lundin Petroleum AB		2,659
	208,260	*	Magnum Hunter Resources Corp		862
	125,961	*	Mantra Resources Ltd		510
	3,462,239		Marathon Oil Corp		114,600
	274,463	*	Mariner Energy, Inc		6,650
	450,988		Massey Energy Co		13,990
	143,128	*	Matrix Service Co		1,252
	814,607	*	McDermott International, Inc		12,040
	510,130	*	McMoRan Exploration Co		8,779
	92,610		Melrose Resources plc		470
	56,214	*	Midnight Oil Exploration Ltd		425
	86,731	*	Miller Petroleum, Inc		467
	56,500		Mitsuuroko Co Ltd		349
	29,800		Modec, Inc		466
	67,413	*	MOL Hungarian Oil and Gas plc		7,084
	335,521	*	Molopo Energy Ltd		345
	1,717,000	*	Mongolia Energy Co ltd		713
	64,594		Motor Oil Hellas Corinth Refineries S.A.		634
	125,606		Mullen Group Ltd		1,759
	1,110,158		Murphy Oil Corp		68,741
	1,067,677	*	Nabors Industries Ltd		19,282
	98,000		NAL Oil & Gas Trust		1,098
	32,233	*	Naphtha Israel Petroleum Corp Ltd		138
	1,979,720		National Oilwell Varco, Inc		88,038
	71,016	*	Natural Gas Services Group, Inc		1,049
	5,669		Neste Oil Oyj		89
	538,707		New Zealand Oil & Gas Ltd		502
	680,413	*	Newfield Exploration Co		39,083
	451,640	*	Newpark Resources, Inc		3,794
	664,952		Nexen, Inc		13,378
	1,931,131	*	Nexus Energy Ltd		765
	51,462		Niko Resources Ltd		5,065
	45,900		Nippon Gas Co Ltd		749
	517,258		Noble Energy, Inc		38,841
	210,279		Nordic American Tanker Shipping		5,627

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	482,000	*	Norse Energy Corp ASA	$	111
	205,556	*	Northern Offshore Ltd		486
	264,787	*	Northern Oil And Gas, Inc		4,485
	282,500	*	Norwegian Energy Co AS.		713
	175,512	f	NovaTek OAO (GDR)		15,076
	115,879		NuVista Energy Ltd		1,175
	185,400	*	Oasis Petroleum, Inc		3,591
	8,299,678		Occidental Petroleum Corp		649,865
	214,146	*	Oceaneering International, Inc		11,534
	2,025,577		OGX Petroleo e Gas Participacoes S.A.		26,397
	1,496,985		Oil Refineries Ltd		822
	675,322		Oil Search Ltd		4,014
	411,692	*	Oil States International, Inc		19,164
	298,992		OMV AG.		11,193
	410,736	*	OPTI Canada, Inc		331
	244,529		Origin Energy Ltd		3,746
	115,819		Overseas Shipholding Group, Inc		3,975
	20,693	*	OYO Geospace Corp		1,198
	1,724,979	*	PA Resources AB		1,274
	216,619	*	Pacific Asia Petroleum, Inc		691
	6,740	*	Pacific Rubiales Energy Corp		188
	475,996	*	Pacific Rubiales Energy Corp (Toronto)		13,384
	185,934	*	Paladin Resources Ltd		645
	35,052		Panhandle Oil and Gas, Inc (Class A)		865
	159,561		Paramount Energy Trust		737
	52,589	*	Paramount Resources Ltd (Class A)		1,041
	492,430	*	Parker Drilling Co		2,142
	53,915		Parkland Income Fund		602
	106,056		Pason Systems, Inc		1,261
	385,143	*	Patriot Coal Corp		4,394
	400,306		Patterson-UTI Energy, Inc		6,837
	5,569		Paz Oil Co Ltd		887
	1,078,811		Peabody Energy Corp		52,873
	155,699		Pembina Pipeline Income Fund		3,110
	232,882		Penn Virginia Corp		3,735
	613,315		Penn West Energy Trust		12,291
	82,456		PetroBakken Energy Ltd		1,849
	113,933	*	Petrobank Energy & Resources Ltd		4,633
	2,855,145	*	Petroceltic International plc		493
	1,518,189		Petrofac Ltd		32,745
	684,637	*	PetroHawk Energy Corp		11,050
	5,735,614		Petroleo Brasileiro S.A.		103,051
	2,480,589		Petroleo Brasileiro S.A. (ADR)		89,971
	6,628,166		Petroleo Brasileiro S.A. (Preference)		106,905
	95,174	*	Petroleum Development Corp		2,627
	274,371	*	Petroleum Geo-Services ASA		3,128
	42,626		Petrominerales Ltd		1,034
	1,155,500		Petronas Dagangan BHD		4,117
	233,487		Petroplus Holdings AG.		2,832
	279,625	*	Petroquest Energy, Inc		1,703
	166,867		Peyto Energy Trust		2,520
	83,930	*	PHI, Inc		1,358

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	232,878	*	Pioneer Drilling Co	$	1,486
	401,254		Pioneer Natural Resources Co		26,094
	321,613	*	Plains Exploration & Production Co		8,577
	168,081	*	Polarcus Ltd		133
	3,493,320		Polish Oil & Gas Co		4,326
	515,317	*	Polski Koncern Naftowy Orlen S.A.		7,091
	399,600	*	Precision Drilling Trust		2,726
	190,647	*	Premier Oil plc		4,954
	765,243	*	Pride International, Inc		22,521
	200,763		ProEx Energy Ltd		2,277
	390,551		ProSafe ASA		2,405
	241,400	*	Prosafe Production Public Ltd		612
	356,809		Provident Energy Trust		2,532
	23,854,000		PT Bumi Resources Tbk		5,680
	1,564,634		PT Tambang Batubara Bukit Asam Tbk		3,410
	1,872,298		PTT Aromatics & Refining PCL		1,604
	1,839,869		PTT Exploration & Production PCL		9,336
	1,249,650		PTT PCL		12,188
	629,124		Questar Market Resources, Inc		18,962
	263,567	*	Questerre Energy Corp		653
	281,286	*	Quicksilver Resources, Inc		3,544
	242,080	*	RAM Energy Resources, Inc		378
	427,213		Range Resources Corp		16,290
	414,099	*	Regal Petroleum plc		120
	2,063,493		Reliance Industries Ltd		45,336
	777,633	*	Rentech, Inc		767
	950,289		Repsol YPF S.A.		24,478
	166,100	*	Resolute Energy Corp		1,837
	134,989	*	Rex Energy Corp		1,728
	30,755	*	Rex Stores Corp		446
	260,569	*	Riversdale Mining Ltd		2,632
	1,822,890	*	Roc Oil Co Ltd		670
	248,822	*	Rosetta Resources, Inc		5,845
	3,253,512	f	Rosneft Oil Co (GDR)		21,701
	350,666	*	Rowan Cos, Inc		10,646
	6,450,242		Royal Dutch Shell plc (A Shares)		194,142
	3,940,169		Royal Dutch Shell plc (B Shares)		114,941
	120,746		RPC, Inc		2,555
	3,009,921		Saipem S.p.A.		120,555
	296,713	*	Salamander Energy plc		1,192
	72,000		San-Ai Oil Co Ltd		315
	750,767	*	SandRidge Energy, Inc		4,264
	853,343		Santos Ltd		10,566
	404,937		Saras S.p.A.		798
	896,227		Sasol Ltd		40,230
	156,738		Savanna Energy Services Corp		835
	7,392		SBM Offshore NV		140
	7,521,581		Schlumberger Ltd		463,406
	15,574		Schoeller-Bleckmann Oilfield Equipment AG.		1,017
	57,543	*	Scorpio Tankers, Inc		650
	88,321	*	SEACOR Holdings, Inc		7,521
	911,806		SeaDrill Ltd		26,341

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	58,417	*	Seahawk Drilling, Inc	$	494
	50	*	Serval Integrated Energy Services		0	^
	767,210	*	Sevan Marine ASA		785
	110,753		ShawCor Ltd		3,229
	51,200		Shinko Plantech Co Ltd		465
	236,550		Ship Finance International Ltd		4,596
	55,262		Showa Shell Sekiyu KK		422
	9,513	*,m	Sibir Energy plc		26
	85,000		Sinanen Co Ltd		348
	93,048		SK Energy Co Ltd		11,873
	276,994	*	Soco International plc		1,871
	81,622		S-Oil Corp		5,047
	233,912	*	Songa Offshore SE		1,014
	273,349		Southern Union Co		6,577
	872,137	*	Southwestern Energy Co		29,164
	1,845,855		Spectra Energy Corp		41,624
	351,952		St. Mary Land & Exploration Co		13,184
	406,979		Statoil ASA		8,491
	206,508	*	Sterling Energy plc		230
	333,494	*	Stone Energy Corp		4,912
	16,179	*	Storm Exploration, Inc		67
	1,256,000		Straits Asia Resources Ltd		2,101
	186,508	*	Subsea 7, Inc		3,644
	3,242,616		Suncor Energy, Inc		105,576
	3,445,404		Suncor Energy, Inc (NY)		112,148
	712,684		Sunoco, Inc		26,013
	355,524	*	Superior Energy Services		9,489
	1,320,552		Surgutneftegaz (ADR)		12,651
	348,800		Surgutneftegaz (ADR) (London)		3,329
	433,000	*	Swiber Holdings Ltd		336
	195,493	*	Swift Energy Co		5,489
	360,221	*	Syntroleum Corp		674
	59,051	*	T-3 Energy Services, Inc		1,544
	1,168,633		Talisman Energy, Inc		20,445
	378,549		Tatneft (GDR)		11,845
	422,068		Technip S.A.		33,942
	35,138		Tecnicas Reunidas S.A.		1,873
	137,930		Teekay Corp		3,687
	123,240		Teekay Tankers Ltd (Class A)		1,603
	21,048		Tenaris S.A.		404
	152,398	*	Tesco Corp		1,833
	323,306		Tesoro Corp		4,319
	536,164	*	Tetra Technologies, Inc		5,469
	219,891		TGS Nopec Geophysical Co ASA		3,161
	1,805,900		Thai Oil PCL		3,139
	119,528		Tidewater, Inc		5,356
	2,800,000	*	Titan Petrochemicals Group Ltd		242
	275,967	f	TMK OAO (GDR)		4,760
	167,770		TonenGeneral Sekiyu KK		1,554
	2,994,490		Total S.A.		154,329
	359,000		Toyo Kanetsu K K		589
	653,282	*	TransAtlantic Petroleum Ltd		1,934

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,117,499		TransCanada Corp	$	41,457
	241,900		Trican Well Service Ltd		3,858
	91,980		Trilogy Energy Corp		1,027
	176,166		Trinidad Drilling Ltd		887
	7,603,248		Tullow Oil plc		152,166
	308,100		Tupras Turkiye Petrol Rafine		8,307
	327,198	*	UK Coal plc		185
	303,722	*	Ultra Petroleum Corp		12,750
	117,800		Ultrapar Participacoes S.A.		7,087
	89,598	*	Union Drilling, Inc		401
	130,278	*	Unit Corp		4,858
	258,768	*	Uranium Energy Corp		849
	666,954	*	Uranium One, Inc		2,249
	566,902	*	USEC, Inc		2,942
	996,884	*	UTS Energy Corp		3,488
	226,119		Vaalco Energy, Inc		1,298
	1,565,967		Valero Energy Corp		27,420
	46,150	*	Valiant Petroleum plc		542
	530,744	*	Vantage Drilling Co		849
	84,243	*	Venoco, Inc		1,654
	196,476		Vermilion Energy Trust		7,375
	238,378		W&T Offshore, Inc		2,527
	324,174	*	Warren Resources, Inc		1,287
	3,893,128	*	Weatherford International Ltd		66,572
	139,069		Wellstream Holdings plc		1,671
	119,724	*	West Siberian Resources Ltd (GDR)		1,609
	501,034	*	Western Refining, Inc		2,625
	10,042	*,m	White Energy 2010 Performance		0	^
	10,042	*,m	White Energy 2011 Performance		0	^
	316,788		Whitehaven Coal Ltd		1,886
	254,427	*	Whiting Petroleum Corp		24,300
	191,206	*	Willbros Group, Inc		1,753
	2,698,923		Williams Cos, Inc		51,576
	347,540		Woodside Petroleum Ltd		14,740
	395,479		World Fuel Services Corp		10,286
	967,083		WorleyParsons Ltd		20,798
	3,312,000		Yanzhou Coal Mining Co Ltd		8,128
	16,400		Zargon Energy Trust		300
			TOTAL ENERGY		9,612,429
FOOD & STAPLES RETAILING - 2.0%
	2,286,652		Aeon Co Ltd		24,543
	9,700		Ain Pharmaciez Inc		338
	218,442		Alimentation Couche Tard, Inc		4,885
	802,000		Alliance Global Group, Inc		164
	189,474		Almacenes Exito S.A.		2,354
	103,961		Andersons, Inc		3,940
	34,679		Arcs Co Ltd		471
	5,715		Arden Group, Inc (Class A)		471
	1,191,358	*	AWB Ltd		1,704
	34,807		Axfood AB		1,146
	169,300	*	Berjaya Retail Bhd		22

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	120,735		BIM Birlesik Magazalar AS	$	3,485
	109,445	*	BJ’s Wholesale Club, Inc		4,542
	12,492		Blue Square-Israel Ltd		168
	2,401,157		Booker Group plc		1,812
	1,609,784		Carrefour S.A.		86,499
	237,999		Casey’s General Stores, Inc		9,936
	166,832		Casino Guichard Perrachon S.A.		15,274
	20,300		Cawachi Ltd		358
	1,341,534		Centros Comerciales Sudamericanos S.A.		9,084
	1,884,300		China Resources Enterprise		8,536
	184,900		Circle K Sunkus Co Ltd		2,472
	15,060		Cocokara Fine Holdings, Inc		332
	3,673		Colruyt S.A.		971
	129,070		Companhia Brasileira de Distribuicao Grupo Pao de Acucar		4,451
	15,500		Cosmos Pharmaceutical Corp		433
	1,779,538		Costco Wholesale Corp		114,763
	3,916,600		CP Seven Eleven PCL		5,452
	10,600		CREATE SD HOLDINGS Co Ltd		231
	9,178,794		CVS Corp		288,858
	7,300		Daikokutenbussaan Co Ltd		244
	124,523		Delhaize Group		9,031
	88,454		Empire Co Ltd		4,733
	61,678		FamilyMart Co Ltd		2,211
	452,996		Fyffes plc		198
	99,472		George Weston Ltd		7,633
	122,596	*	Great Atlantic & Pacific Tea Co, Inc		485
	14,000		Growell Holdings Co Ltd		322
	39,300	*	Grupo Comercial Chedraui S.a. DE C.v.		113
	72,266		Hakon Invest AB		1,320
	40,500		Heiwado Co Ltd		474
	63,725		Ingles Markets, Inc (Class A)		1,058
	6,200		Itochu-Shokuhin Co Ltd		214
	84,741		Izumiya Co Ltd		310
	2,091,949		J Sainsbury plc		12,839
	160,283		Jean Coutu Group PJC, Inc/The		1,358
	2,242,461		Jeronimo Martins SGPS S.A.		29,990
	133,900		Kasumi Co Ltd		714
	51,600		Kato Sangyo Co Ltd		762
	50,870		Kesko Oyj (B Shares)		2,387
	1,856,864		Koninklijke Ahold NV		25,030
	2,738,074		Kroger Co		59,307
	101,758		Lawson, Inc		4,662
	38,800		Liquor Stores Income Fund		592
	181,779		Loblaw Cos Ltd		7,203
	374,733	f	Magnit OAO (ADR)		9,443
	89,593		Majestic Wine plc		480
	53,616		MARR S.p.A.		578
	91,000		Maruetsu, Inc		370
	286,487		Massmart Holdings Ltd		6,075
	44,800		Matsumotokiyoshi Holdings Co Ltd		806
	1,417,808		Metcash Ltd		5,989

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,729		Metro AG.	$	1,414
	292,231		Metro, Inc		12,679
	83,200		Ministop Co Ltd		1,228
	63,534		Nash Finch Co		2,703
	40,939		North West Co Fund		769
	46,000		Okuwa Co Ltd		416
	394,458		Olam International Ltd		978
	129,853	*	Pantry, Inc		3,131
	333,211		Pick’n Pay Stores Ltd		2,066
	1,280,320		President Chain Store Corp		5,512
	64,177		Pricesmart, Inc		1,869
	50,532		Rallye S.A.		1,870
	15,548		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		414
	2,850,333	*	Rite Aid Corp		2,688
	210,478		Ruddick Corp		7,299
	21,679		Ryoshoku Ltd		510
	31,000		S Foods, Inc		254
	2,174,168		Safeway, Inc		46,005
	13,600		San-A Co Ltd		517
	839,179		Seven & I Holdings Co Ltd		19,663
	36,185		Shinsegae Co Ltd		19,072
	271,802		Shoppers Drug Mart Corp		10,564
	755,630		Shoprite Holdings Ltd		10,727
	166,085		Shufersal Ltd		995
	50,174		Sligro Food Group NV		1,620
	133,970		Spartan Stores, Inc		1,943
	44,100		Sugi Pharmacy Co Ltd		995
	54,400		Sundrug Co Ltd		1,468
	5,442,262		Supervalu, Inc		62,749
	35,758	*	Susser Holdings Corp		501
	1,508,958		Sysco Corp		43,035
	6,661,737		Tesco plc		44,371
	953,698		Total Produce plc		467
	19,788		Tsuruha Holdings, Inc		833
	373,459	*	United Natural Foods, Inc		12,376
	147,567		UNY Co Ltd		1,167
	43,500		Valor Co Ltd		331
	32,083		Village Super Market (Class A)		896
	2,575,501		Walgreen Co		86,279
	10,633,221		Wal-Mart de Mexico S.A. de C.V. (Series V)		26,647
	10,049,780		Wal-Mart Stores, Inc		537,865
	66,998		Weis Markets, Inc		2,622
	2,030,990		Wesfarmers Ltd		64,565
	124,958		Wesfarmers Ltd PPS		3,997
	1,096,999	*	Whole Foods Market, Inc		40,710
	279,601	*	Winn-Dixie Stores, Inc		1,994
	8,845,571		WM Morrison Supermarkets plc		41,089
	1,290,003		Woolworths Ltd		35,959
	811,000		Wumart Stores		1,940
	5,859	*,f	X 5 Retail Group NV (GDR)		234
	9,600		Yaoko Co Ltd		274
			TOTAL FOOD & STAPLES RETAILING		1,964,896

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
FOOD, BEVERAGE & TOBACCO - 5.2%
	36,968		AarhusKarlshamn AB	$	878
	1,091,667		Ajinomoto Co, Inc		10,684
	20,579		Alico, Inc		478
	19,216		Alliance Grain Traders, Inc		549
	588,976	*	Alliance One International, Inc		2,444
	10,471,324		Altria Group, Inc		251,521
	287,340		Anadolu Efes Biracilik Ve Malt Sanayii AS		4,489
	2,974	*	Anheuser-Busch InBev NV		0	^
	1,649,446		Archer Daniels Midland Co		52,650
	24,900		Ariake Japan Co Ltd		381
	127,345		Aryzta AG.		5,573
	862,521		Asahi Breweries Ltd		17,255
	14,126		Asian Bamboo AG.		770
	312,400		Asiatic Development BHD		781
	966,460		Associated British Foods plc		15,926
	16,936		Atria Group plc		250
	187,900		Austevoll Seafood ASA		1,208
	211,861	*	Australian Agricultural Co Ltd		315
	897,552		B&G Foods, Inc (Class A)		9,801
	3,949	*	Baron de Ley		231
	2,526		Barry Callebaut AG.		1,976
	145,305	*	Black Earth Farming Ltd		401
	4,414		Bonduelle S.C.A.		419
	51,742	*	Boston Beer Co, Inc (Class A)		3,460
	3,842		Bridgford Foods Corp		49
	151,700		British American Tobacco Malaysia BHD		2,382
	2,100,160		British American Tobacco plc		78,338
	550,547		Britvic plc		4,196
	224,046		Brown-Forman Corp (Class B)		13,810
	456,165		Bunge Ltd		26,987
	506,405		C&C Group plc		2,223
	57,344		Calavo Growers, Inc		1,243
	60,447	b	Cal-Maine Foods, Inc		1,752
	1,073,738		Campbell Soup Co		38,386
	22,351		Campofrio Alimentacion S.A.		222
	500,814		Carlsberg AS (Class B)		52,218
	248,874	*	Central European Distribution Corp		5,555
	80,146		Cermaq ASA		889
	4,152,837		Chaoda Modern Agriculture		3,442
	5,885,500		Charoen Pokphand Foods PCL		4,897
	2,470,700		China Agri-Industries Holdings Ltd		3,503
	1,586,000		China Mengniu Dairy Co Ltd		4,906
	1,894,000		China Yurun Food Group Ltd		7,030
	230,489	*	Chiquita Brands International, Inc		3,052
	16,077		CJ CheilJedang Corp		3,398
	15,364		Coca Cola Hellenic Bottling Co S.A.		405
	1,125,073		Coca-Cola Amatil Ltd		13,028
	27,719		Coca-Cola Bottling Co Consolidated		1,467
	29,500		Coca-Cola Central Japan Co Ltd		397
	11,889,502		Coca-Cola Co		695,773

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,980,271		Coca-Cola Enterprises, Inc	$	61,388
	529,275		Coca-Cola Femsa S.A. de C.V.		4,148
	79,896		Coca-Cola Icecek AS		978
	52,883		Coca-Cola West Japan Co Ltd		892
	1,294,273		ConAgra Foods, Inc		28,396
	600,081	*	Constellation Brands, Inc (Class A)		10,615
	33,213		Copeinca ASA		240
	901,118		Corn Products International, Inc		33,792
	182,674		Cosan SA Industria e Comercio		2,714
	199,200	*	Cott Corp		1,564
	83,236		Cranswick plc		1,072
	133,832		CSM		3,933
	185,753		Dairy Crest Group plc		1,082
	77,620		Danisco AS		6,922
	515,508	*	Darling International, Inc		4,392
	412,175		Davide Campari-Milano S.p.A.		2,465
	7,043,606	*	Dean Foods Co		71,915
	1,205,645		Del Monte Foods Co		15,806
	519,889		Devro plc		2,042
	4,634,641		Diageo plc		79,795
	88,905		Diamond Foods, Inc		3,644
	199,455	*	Dole Food Co, Inc		1,825
	3,031,932		Dr Pepper Snapple Group, Inc		107,694
	20,900		Dydo Drinco, Inc		723
	18,017		East Asiatic Co Ltd A.S.		473
	189,628	*	Ebro Puleva S.A.		3,792
	162,803		Ezaki Glico Co Ltd		2,108
	34,469		Farmer Bros Co		552
	562,000		First Resources Ltd		500
	263,661		Flowers Foods, Inc		6,549
	4,129,914		Fomento Economico Mexicano S.A. de C.V.		20,988
	1,432,023		Foster’s Group Ltd		8,485
	205,664	*	Fresh Del Monte Produce, Inc		4,463
	120,400		Fuji Oil Co Ltd		1,806
	24,832		Fujicco Co Ltd		307
	150,000	*	Fujiya Co Ltd		291
	1,303,881	*	Futuris Corp Ltd		731
	2,570,639		General Mills, Inc		93,930
	183,692		Glanbia plc		869
	1,804,000	*	GMG Global Ltd		343
	14,494,856		Golden Agri-Resources Ltd		6,282
	1,573,874		Goodman Fielder Ltd		1,985
	627,866		GrainCorp Ltd		4,394
	352,710	*	Green Mountain Coffee Roasters, Inc		11,001
	292,448		Greencore Group plc		470
	237,809		Greggs plc		1,773
	47,547		Grieg Seafood ASA		133
	10,379		Griffin Land & Nurseries, Inc (Class A)		274
	1,267,635		Groupe Danone		75,821
	499,282		Grupo Bimbo S.A. de C.V. (Series A)		3,657
	1,722,301		Grupo Modelo S.A. (Series C)		9,460
	1,432,135		H.J. Heinz Co		67,840

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	289,018	*	Hain Celestial Group, Inc	$	6,931
	799,508	*	Hansen Natural Corp		37,273
	41,006	*	Harbinger Group, Inc		228
	397,501	*	Heckmann Corp		1,550
	145,816		Heineken Holding NV		6,379
	28,726		Heineken NV		1,490
	1,233,462		Hershey Co		58,700
	58,308		Hite Brewery Co Ltd		6,494
	54,731		HKScan Oyj		583
	30,100		Hokuto Corp		674
	205,385		Hormel Foods Corp		9,160
	93,700		House Foods Corp		1,424
	68,620		Imperial Sugar Co		898
	3,586,224		Imperial Tobacco Group plc		106,869
	3,828,567		InBev NV		225,213
	476,978	*	Indofood Agri Resources Ltd		820
	30,000	*,m	International Hydron		1
	4,345,876		IOI Corp BHD		7,701
	3,927,234		ITC Ltd		15,583
	43,444		Ito En Ltd		713
	198,000		Itoham Foods, Inc		664
	85,840		J&J Snack Foods Corp		3,599
	382,048		J.M. Smucker Co		23,125
	4,605		Japan Tobacco, Inc		15,330
	1,515,621		JBS S.A.		6,548
	37,851	*	John B. Sanfilippo & Son, Inc		500
	122,000		J-Oil Mills, Inc		341
	97,373		Kagome Co Ltd		1,885
	535,793		Kellogg Co		27,063
	62,281	*	Kernel Holding S.A.		1,414
	171,768		Kerry Group plc (Class A)		6,026
	21,700		KEY Coffee, Inc		395
	128,015		Kikkoman Corp		1,412
	1,400,566		Kirin Brewery Co Ltd		19,881
	94,664	*	Koninklijke Wessanen NV		337
	7,312,734		Kraft Foods, Inc (Class A)		225,670
	209,668		KT&G Corp		12,504
	1,125,273		Kuala Lumpur Kepong BHD		6,197
	1,604,527		Kulim Malaysia BHD		4,465
	3,199		KWS Saat AG.		526
	81,762		Lancaster Colony Corp		3,884
	112,547		Lance, Inc		2,397
	3,681		Laurent-Perrier		411
	76,354		Leroy Seafood Group ASA		1,805
	22,994	*	Lifeway Foods, Inc		242
	33,472		Limoneira Co		674
	98		Lindt & Spruengli AG.		235
	93		Lindt & Spruengli AG. (Reg)		2,598
	1,838,819		Lorillard, Inc		147,676
	993		Lotte Confectionery Co Ltd		1,164
	75,169		Maple Leaf Foods, Inc		880
	190,434		Marfrig Alimentos S.A.		1,940

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	337,000		Marudai Food Co Ltd	$	1,050
	671,000		Maruha Nichiro Holdings, Inc		1,117
	433,788		McCormick & Co, Inc		18,236
	1,004,133		Mead Johnson Nutrition Co		57,145
	69,900		Megmilk Snow Brand Co Ltd		1,312
	201,482		MEIJI Holdings Co Ltd		9,485
	11,500		Meito Sangyo Co Ltd		167
	97,000		Mercian Corp		191
	35,356		Mgp Ingredients, Inc		278
	38,000		Mikuni Coca-Cola Bottling Co Ltd		332
	124,000		Mitsui Sugar Co Ltd		498
	273,097		Molson Coors Brewing Co (Class B)		12,896
	354,000		Morinaga & Co Ltd		844
	344,000		Morinaga Milk Industry Co Ltd		1,475
	30,000		Nagatanien Co Ltd		313
	52,022		National Beverage Corp		728
	4,692,189		Nestle S.A.		249,972
	618,000		Nichirei Corp		2,621
	152,000		Nippon Beet Sugar Manufacturing Co Ltd		355
	281,000		Nippon Flour Mills Co Ltd		1,447
	153,853		Nippon Meat Packers, Inc		1,884
	345,266		Nippon Suisan Kaisha Ltd		1,137
	265,000		Nisshin Oillio Group Ltd		1,209
	624,830		Nisshin Seifun Group, Inc		8,211
	104,185		Nissin Food Products Co Ltd		3,763
	683,152		Northern Foods plc		504
	56,568		Nutreco Holding NV		4,137
	54,453		Osem Investments Ltd		845
	1,599,501		Pacific Andes International Holdings Ltd		291
	4,627,801		PAN Fish ASA		4,033
	450,581		Parmalat S.p.A.		1,156
	7,223,567		PepsiCo, Inc		479,934
	961,271		Perdigao S.A.		14,629
	8,811		Pernod-Ricard S.A.		736
	9,308		Pescanova S.A.		298
	121,000		Petra Foods Ltd		133
	876,612	*	PGG Wrightson Ltd		360
	10,442,104		Philip Morris International, Inc		584,966
	270,567	*	Pilgrim’s Pride Corp		1,521
	588,300		PPB Group BHD		3,278
	3,145,991	*	Premier Foods plc		804
	367,000		Prima Meat Packers Ltd		387
	726,524		PT Astra Agro Lestari Tbk		1,685
	824,000		PT Gudang Garam Tbk		4,764
	11,895,100		PT Indofood Sukses Makmur Tbk		7,264
	225,800		Q.P. Corp		2,921
	363,811		Raisio plc (V Shares)		1,453
	151,412	*	Ralcorp Holdings, Inc		8,855
	30,435		Remy Cointreau S.A.		2,050
	491,695		Reynolds American, Inc		29,202
	49,147		Robert Wiseman Dairies plc		248
	16,635	*	Royal UNIBREW AS		822

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	167,611		SABMiller plc	$	5,359
	42,355		Sakata Seed Corp		564
	138,716		Sanderson Farms, Inc		6,005
	635,346		Sapporo Holdings Ltd		2,976
	367,307		Saputo, Inc		12,537
	3,465,464		Sara Lee Corp		46,541
	45,940	*	Seneca Foods Corp		1,203
	270,000		Showa Sangyo Co Ltd		818
	13,058		Sipef S.A		965
	13,345		SLC Agricola S.A.		147
	289,106	*	Smart Balance, Inc		1,122
	380,887	*	Smithfield Foods, Inc		6,410
	2,992		Societa per la Bonifica dei Terreni Ferraresi e Imprese Agricole S.p.A.		116
	50,088	*	SOS Cuetara S.A.		71
	110,431		Souza Cruz S.A.		5,519
	396,768	*	Star Scientific, Inc		833
	55,970		Strauss Group Ltd		834
	151,301		Suedzucker AG.		3,384
	40,507		Swedish Match AB		1,081
	77,795	*	Synutra International, Inc		899
	247,000		Takara Holdings, Inc		1,388
	157,149		Tassal Group Ltd		213
	714,613		Tate & Lyle plc		5,240
	325,247		Tiger Brands Ltd		8,847
	2,472,000		Tingyi Cayman Islands Holding Corp		6,818
	101,456		Tootsie Roll Industries, Inc		2,524
	317,624		Toyo Suisan Kaisha Ltd		6,548
	167,198	*	TreeHouse Foods, Inc		7,708
	484,000		Tsingtao Brewery Co Ltd		2,788
	2,041,069		Tyson Foods, Inc (Class A)		32,698
	2,131,697		Unilever NV		63,715
	337,076		Unilever NV ADR		10,072
	2,994,784		Unilever plc		86,610
	356,565		Unilever plc (ADR)		10,376
	5,546,382		Uni-President Enterprises Corp		7,199
	168,790		United Breweries Co, Inc		1,902
	117,474		United Spirits Ltd		4,113
	123,594		Universal Corp		4,955
	159,000		Universal Robina		150
	220,641		Vector Group Ltd		4,126
	8,382		Vilmorin & Cie		904
	626,444		Vina Concha Y Toro S.A.		1,502
	83,057		Viscofan S.A.		2,738
	1,496,000		Vitasoy International Holdings Ltd		1,178
	421,207	*	Viterra, Inc		3,676
	2,672		Vranken - Pommery Monopole		123
	8,984,000		Want Want China Holdings Ltd		8,337
	250,000		Westway Group, Inc		825
	1,702,000		Wilmar International Ltd		7,778
	103,533		Wimm-Bill-Dann Foods OJSC (ADR)		2,342
	109,578		Yakult Honsha Co Ltd		3,384

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	119,306		Yamazaki Baking Co Ltd	$	1,455
	287,751		Yantai Changyu Pioneer Wine Co		3,672
	52,000		Yonekyu Corp		411
			TOTAL FOOD, BEVERAGE & TOBACCO		5,077,415
HEALTH CARE EQUIPMENT & SERVICES - 3.3%
	99,984	*	Abaxis, Inc		2,310
	134,369	*	Abiomed, Inc		1,426
	60,036	*	Accretive Health, Inc		650
	209,967	*	Accuray, Inc		1,306
	2,179,624		Aetna, Inc		68,898
	56,491	*	AGA Medical Holdings, Inc		789
	240,872	*	AGFA-Gevaert NV		1,776
	51,390	*	Air Methods Corp		2,137
	239,171		Alcon, Inc		39,891
	75,999		Alfresa Holdings Corp		3,241
	260,964	*	Align Technology, Inc		5,110
	14,473	*	Alimera Sciences, Inc		139
	108,690	*	Alliance Imaging, Inc		498
	236,996	*	Allied Healthcare International, Inc		592
	329,289	*	Allscripts Healthcare Solutions, Inc		6,082
	82,065	*	Almost Family, Inc		2,432
	28,400		Aloka Co Ltd		188
	218,273	*	Alphatec Holdings, Inc		465
	128,305	*	Amedisys, Inc		3,054
	61,265		America Service Group, Inc		912
	80,757	*	American Dental Partners, Inc		974
	403,128	*	American Medical Systems Holdings, Inc		7,893
	306,813	*	AMERIGROUP Corp		13,030
	1,410,040		AmerisourceBergen Corp		43,232
	277,959	*	AMN Healthcare Services, Inc		1,429
	101,232		Amplifon S.p.A.		461
	174,124	*	Amsurg Corp		3,044
	56,970		Analogic Corp		2,557
	126,931	*	Angiodynamics, Inc		1,934
	279,966		Ansell Ltd		3,613
	305,121	*	Antares Pharma, Inc		442
	49,530		Arseus NV		675
	327,213	*	Arthrocare Corp		8,894
	24,000		As One Corp		463
	46,650	*	Assisted Living Concepts, Inc (A Shares)		1,420
	142,214	*	athenahealth, Inc		4,696
	7,261		Atrion Corp		1,144
	6,887		Audika		183
	61,499	*	Axis-Shield plc		267
	477,018		Bard (C.R.), Inc		38,844
	1,890,138		Baxter International, Inc		90,178
	147,794		Beckman Coulter, Inc		7,211
	921,775		Becton Dickinson & Co		68,304
	2,223		BioMerieux		230
	103,365	*	Bio-Reference Labs, Inc		2,156
	174,029	*	BioScrip, Inc		898

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,132,000	*	Biosensors International Group Ltd	$	852
	17,900		BML, Inc		449
	11,321,771	*	Boston Scientific Corp		69,402
	183,002	*	Brookdale Senior Living, Inc		2,985
	77,290		Cantel Medical Corp		1,252
	120,377	*	Capital Senior Living Corp		642
	2,006,190		Cardinal Health, Inc		66,285
	192,220	*	CardioNet, Inc		867
	856,070	*	CareFusion Corp		21,265
	47,409		Carl Zeiss Meditec AG.		746
	230,299	*	Catalyst Health Solutions, Inc		8,109
	13,815		Celesio AG.		301
	250,736	*	Centene Corp		5,915
	215,151	*	Cerner Corp		18,072
	165,709	*	Cerus Corp		636
	129,293		Chemed Corp		7,366
	71,899	*	Chindex International, Inc		1,086
	1,455,023		Cigna Corp		52,061
	200,555	*	Clarient, Inc		678
	10,912		Clinica Baviera S.A.		115
	63,917		CML Healthcare Income Fund		717
	74,412		Cochlear Ltd		5,053
	47,111		Coloplast AS (Class B)		5,632
	4,688		Coltene Holding AG.		263
	200,431	*	Community Health Systems, Inc		6,207
	9,057		Compagnie Generale d’Optique Essilor International S.A.		623
	42,475		Computer Programs & Systems, Inc		1,808
	130,624	*	Conceptus, Inc		1,796
	135,810	*	Conmed Corp		3,044
	144,813	*	Continucare Corp		608
	225,527		Cooper Cos, Inc		10,424
	37,544	*	Corvel Corp		1,594
	802,721	*	Coventry Health Care, Inc		17,283
	1,617,611		Covidien plc		65,012
	195,899	*	Cross Country Healthcare, Inc		1,409
	160,309	*	CryoLife, Inc		973
	63,243	*	Cutera, Inc		512
	126,456	*	Cyberonics, Inc		3,374
	46,006	*	Cynosure, Inc (Class A)		470
	376,853	*	DaVita, Inc		26,014
	324,017	*	Delcath Systems, Inc		2,339
	301,637		Dentsply International, Inc		9,643
	246,216	*	DexCom, Inc		3,255
	200,316		Diagnostic & Therapeutic Center of Athens Hygeia S.A.		218
	30,667		DiaSorin S.p.A.		1,260
	20,912		Draegerwerk AG.		1,910
	7,923		Draegerwerk AG. & Co KGaA		564
	59,869	*	DynaVox, Inc		486
	1,289,861	*	Edwards Lifesciences Corp		86,485
	95,163	*	Electro-Optical Sciences, Inc		620

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	186,054		Elekta AB (B Shares)	$	6,735
	59,958	*	Emdeon, Inc		730
	143,242	*	Emergency Medical Services Corp (Class A)		7,628
	78,924	*	Emeritus Corp		1,346
	221,838	*	Endologix, Inc		1,012
	57,539		Ensign Group, Inc		1,033
	99,546	*	EnteroMedics, Inc		169
	38,108	*	Exactech, Inc		622
	4,886,719	*	Express Scripts, Inc		237,983
	747,147		Fisher & Paykel Healthcare Corp		1,628
	111,444	*	Five Star Quality Care, Inc		563
	10,207		Fleury S.A.		127
	219,322		Fresenius AG. (Preference)		17,712
	166,573		Fresenius Medical Care AG.		10,288
	102,267		Fresenius SE		8,186
	8,579		Galenica AG.		4,033
	77,839	*	Genoptix, Inc		1,105
	99,825	*	Gen-Probe, Inc		4,838
	203,556	*	Gentiva Health Services, Inc		4,448
	101,456		Getinge AB (B Shares)		2,371
	22,928	*	Given Imaging Ltd		415
	311,536	*	GN Store Nord		2,399
	14,884,212	*	Golden Meditech Co Ltd		2,801
	121,784	*	Greatbatch, Inc		2,824
	105,600		Green Hospital Supply, Inc		921
	110,599	*	Haemonetics Corp		6,473
	166,418	*	Hanger Orthopedic Group, Inc		2,420
	149,422	*	Hansen Medical, Inc		214
	191,555	*	Health Grades, Inc		1,569
	544,492	*	Health Management Associates, Inc (Class A)		4,171
	886,726	*	Health Net, Inc		24,110
	179,930		Healthcare Locums plc		362
	1,368,418	*	Healthsouth Corp		26,274
	295,559	*	Healthspring, Inc		7,637
	161,120	*	Healthways, Inc		1,875
	59,238	*	HeartWare International, Inc		4,073
	344,955	*	Henry Schein, Inc		20,207
	548,328		Hill-Rom Holdings, Inc		19,679
	200,000		Hitachi Medical Corp		1,308
	115,310	*	HMS Holdings Corp		6,796
	18,000		Hogy Medical Co Ltd		870
	3,217,469	*	Hologic, Inc		51,512
	1,540,704	*	Hospira, Inc		87,836
	865,592	*	Humana, Inc		43,487
	1,336,338		IBA Health Group Ltd		161
	49,758	*	ICU Medical, Inc		1,855
	120,497	*	Idexx Laboratories, Inc		7,437
	412,843	*	Immucor, Inc		8,187
	159,595	*	Insulet Corp		2,257
	124,295	*	Integra LifeSciences Holdings Corp		4,905
	303,294	*	Intuitive Surgical, Inc		86,057
	180,764		Invacare Corp		4,792

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	175,627	*	Inverness Medical Innovations, Inc	$	5,432
	39,558		Ion Beam Applications		453
	65,048	*	IPC The Hospitalist Co, Inc		1,777
	114,659	*	IRIS International, Inc		1,101
	950		Japan Longlife Co Ltd		336
	93,000		Jeol Ltd		277
	31,847	*	Kensey Nash Corp		920
	200,894	*	Kindred Healthcare, Inc		2,616
	490,870	*	Kinetic Concepts, Inc		17,956
	451,301	*	Laboratory Corp of America Holdings		35,396
	39,548		Landauer, Inc		2,477
	82,332	*	LCA-Vision, Inc		459
	62,978	*	LHC Group, Inc		1,460
	114,817	*	LifePoint Hospitals, Inc		4,025
	14,007	*	LifeWatch AG.		148
	376,323		Lincare Holdings, Inc		9,442
	6,612	m	LVL Medical Groupe S.A.		152
	173,200	*	Magellan Health Services, Inc		8,182
	108,969	*	MAKO Surgical Corp		1,044
	8,100		Mani, Inc		285
	223,712		Masimo Corp		6,110
	961,138		McKesson Corp		59,379
	185,165	*	MedAssets, Inc		3,896
	87,994	*	Medcath Corp		886
	1,856,064	*	Medco Health Solutions, Inc		96,627
	62,210	*	Medica		1,176
	102,304	*	Medical Action Industries, Inc		926
	271,814		Mediceo Paltac Holdings Co Ltd		3,455
	136,914	*	Medidata Solutions, Inc		2,629
	48,673		MedQuist, Inc		426
	3,820,655		Medtronic, Inc		128,298
	183,198	*	Merge Healthcare, Inc		531
	177,827		Meridian Bioscience, Inc		3,891
	125,422	*	Merit Medical Systems, Inc		1,993
	180		Message Co Ltd		428
	192,985	*	Metropolitan Health Networks, Inc		733
	4,595,000	*	Microport Scientific Corp		5,123
	10,000		Mindray Medical International Ltd (ADR) (Class A)		296
	98,700		Miraca Holdings, Inc		3,494
	313,978	*	Molina Healthcare, Inc		8,474
	59,691	*	MWI Veterinary Supply, Inc		3,445
	13,568		Nagaileben Co Ltd		337
	7,200		Nakanishi, Inc		798
	39,207		National Healthcare Corp		1,453
	3,974		National Research Corp		104
	125,862	*	Natus Medical, Inc		1,834
	98,822	*	Neogen Corp		3,345
	2,022,229		Network Healthcare Holdings Ltd		4,015
	82,200		Nichii Gakkan Co		746
	66,800		Nihon Kohden Corp		1,377
	126,767		Nikkiso Co Ltd		976
	71,866		Nipro Corp		1,503

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	117,714		Nobel Biocare Holding AG.	$	2,114
	168,240	*	NuVasive, Inc		5,912
	195,283	*	NxStage Medical, Inc		3,730
	100,962		Olympus Corp		2,644
	30,423		Omega Pharma S.A.		1,134
	1,306,012		Omnicare, Inc		31,188
	217,560	*	Omnicell, Inc		2,846
	127,597		OPG Groep NV		2,207
	19,727		Opto Circuits India Ltd		130
	205,524	*	OraSure Technologies, Inc		832
	168,167		Oriola-KD Oyj (B Shares)		979
	30,103		Orpea		1,352
	116,543	*	Orthofix International NV		3,662
	304,335	*	Orthovita, Inc		691
	1,709	*	Osteotech, Inc		11
	337,639		Owens & Minor, Inc		9,609
	89,265	*	Palomar Medical Technologies, Inc		922
	26,700		Paramount Bed Co Ltd		719
	210,126		Patterson Cos, Inc		6,020
	35,492	*	PDI, Inc		310
	99,244	*	Pediatrix Medical Group, Inc		5,290
	235,295	*	PharMerica Corp		2,242
	463,121		Phonak Holding AG.		56,556
	16,437		Prim S.A.		136
	822,365		Primary Health Care Ltd		2,798
	30,314	*	Prospect Medical Holdings, Inc		258
	97,869	*	Providence Service Corp		1,604
	246,250	*	PSS World Medical, Inc		5,265
	248,691	*	Psychiatric Solutions, Inc		8,344
	82,233		Quality Systems, Inc		5,453
	309,612		Quest Diagnostics, Inc		15,626
	100,365	*	Quidel Corp		1,103
	476,000		Raffles Medical Group Ltd		800
	210,109		Ramsay Health Care Ltd		3,123
	111,978	*	RehabCare Group, Inc		2,264
	128,823	*	Res-Care, Inc		1,709
	358,385	*	Resmed, Inc		11,759
	197,188		Rhoen Klinikum AG.		4,351
	48,181	*	Rochester Medical Corp		526
	281,096	*	RTI Biologics, Inc		739
	92,691	*	Rural		789
	735,879		Ryman Healthcare Ltd		1,118
	16,703		Sartorius AG.		401
	8,700		Sartorius Stedim Biotech		408
	221,037	*	Select Medical Holdings Corp		1,702
	1,724,000		Shandong Weigao Group Medical Polymer Co Ltd		4,911
	1,613,071		Sigma Pharmaceuticals Ltd		748
	1,328,400		Sinopharm Group Co		5,487
	204,424	*	Sirona Dental Systems, Inc		7,367
	89,883	*	Skilled Healthcare Group, Inc (Class A)		353
	68,065		Smith & Nephew plc		621
	247,114	*	Solta Medical, Inc		494

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	145		So-net M3, Inc	$	642
	403,403		Sonic Healthcare Ltd		4,289
	106,064	*	SonoSite, Inc		3,554
	342,858	*	Sorin S.p.A.		800
	274,186	*	Southern Cross Healthcare Ltd		132
	145,054	*	Spectranetics Corp		786
	1,337,769		SSL International plc		24,335
	1,272,098	*	St. Jude Medical, Inc		50,044
	172,746	*	Staar Surgical Co		935
	145,510	*	Stereotaxis, Inc		602
	332,848		STERIS Corp		11,057
	10,007		Stratec Biomedical Systems		412
	1,255		Straumann Holding AG.		280
	1,712,742		Stryker Corp		85,723
	297,811	*	Sun Healthcare Group, Inc		2,522
	248,695	*	Sunrise Senior Living, Inc		853
	78,151	*	SurModics, Inc		932
	81,758		Suzuken Co Ltd		2,706
	313,584	*	SXC Health Solutions Corp		11,436
	103,962	*	SXC Health Solutions Corp (Toronto)		3,795
	201,500	*	Symmetry Medical, Inc		1,942
	186,464		Synergy Healthcare plc		2,171
	149,214	*	Syneron Medical Ltd		1,480
	54,455	*	Synovis Life Technologies, Inc		814
	6,272		Synthes, Inc		725
	36,700		Sysmex Corp		2,545
	66,637	*	Team Health Holdings, Inc		860
	81,073		Teleflex, Inc		4,603
	1,050,317	*	Tenet Healthcare Corp		4,957
	141,591		Terumo Corp		7,514
	766,962	*	Thoratec Corp		28,362
	85,200		Toho Pharmaceutical Co Ltd		1,201
	233,661	*	TomoTherapy, Inc		822
	38,999	*	Transcend Services, Inc		595
	105,951	*	Triple-S Management Corp (Class B)		1,785
	208,063	*	Unilife Corp		1,255
	462,295		United Drug plc		1,575
	8,385,564		UnitedHealth Group, Inc		294,418
	173,281		Universal American Financial Corp		2,556
	470,173		Universal Health Services, Inc (Class B)		18,271
	68,934	*	US Physical Therapy, Inc		1,153
	331,704	*	Varian Medical Systems, Inc		20,068
	82,659	*	Vascular Solutions, Inc		949
	176,818	*	VCA Antech, Inc		3,729
	64,126	*	Vital Images, Inc		848
	73,100		VITAL KSK Holdings, Inc		496
	218,701	*	Volcano Corp		5,682
	399,948	*	WellCare Health Plans, Inc		11,582
	3,009,196	*	WellPoint, Inc		170,441
	139,832		West Pharmaceutical Services, Inc		4,798
	9,952	*	William Demant Holding		734
	178,187	*	Wright Medical Group, Inc		2,568

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,246		Young Innovations, Inc	$	865
	697,193	*	Zimmer Holdings, Inc		36,484
	113,833	*	Zoll Medical Corp		3,673
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		3,235,544
HOUSEHOLD & PERSONAL PRODUCTS - 1.8%
	27,700	*	Aderans Co Ltd		366
	768,341		Alberto-Culver Co		28,928
	4,960		Amorepacific Corp		4,985
	43,344	*	Atrium Innovations Inc		621
	3,587,252		Avon Products, Inc		115,186
	245,614		Beiersdorf AG.		15,034
	18,416	*	Cellu Tissue Holdings, Inc		220
	324,189	*	Central Garden and Pet Co (Class A)		3,359
	228,241		Church & Dwight Co, Inc		14,822
	512,046		Clorox Co		34,184
	1,900,679		Colgate-Palmolive Co		146,086
	386		Dr Ci:Labo Co Ltd		1,325
	114,940	*	Elizabeth Arden, Inc		2,298
	744,277	*	Energizer Holdings, Inc		50,038
	678,051		Estee Lauder Cos (Class A)		42,873
	77,800		Fancl Corp		1,242
	78,386		Female Health Co		404
	1,128,500		Hengan International Group Co Ltd		11,250
	42,276		Henkel KGaA		1,914
	1,443,448		Henkel KGaA (Preference)		77,531
	487,568		Herbalife Ltd		29,425
	1,326,247		Hindustan Lever Ltd		9,122
	387,869	*	Hypermarcas S.A.		6,027
	6,502		Inter Parfums S.A.		212
	100,138		Inter Parfums, Inc		1,761
	769,310		Kao Corp		18,744
	1,307,474		Kimberly-Clark Corp		85,051
	787,579		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		5,015
	37,600		Kobayashi Pharmaceutical Co Ltd		1,669
	46,500		Kose Corp		1,104
	14,350		LG Household & Health Care Ltd		5,298
	297,000		Lion Corp		1,619
	48,128		L’Oreal S.A.		5,412
	54,179		Mandom Corp		1,458
	320,543		Mcbride plc		932
	111,388	*	Medifast, Inc		3,022
	12,100		Milbon Co Ltd		335
	256,338		Natura Cosmeticos S.A.		6,893
	830,000		Natural Beauty Bio-Technology Ltd		196
	27,322	*	Nature’s Sunshine Products, Inc		244
	155,378	*	NBTY, Inc		8,543
	47,600		Noevir Co Ltd		542
	1,286,562		Nu Skin Enterprises, Inc (Class A)		37,053
	54,882	*	Nutraceutical International Corp		861
	21,396		Oil-Dri Corp of America		460
	64,903		Oriflame Cosmetics S.A.		4,170

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,300		Pigeon Corp	$	804
	215,722	*	Prestige Brands Holdings, Inc		2,133
	13,668,524		Procter & Gamble Co		819,701
	2,764,000		PT Unilever Indonesia Tbk		5,218
	281,225		PZ Cussons plc		1,621
	2,548,423		Reckitt Benckiser Group plc		140,156
	73,112	*	Revlon, Inc (Class A)		923
	13,104,000		RUINIAN INTERNATIONAL Ltd		10,978
	30,748		Sarantis S.A.		163
	58,244		Schiff Nutrition International, Inc		478
	295,322		Shiseido Co Ltd		6,630
	74,895	*	Spectrum Brands, Inc		2,036
	146,541		Uni-Charm Corp		5,898
	37,578	*	USANA Health Sciences, Inc		1,517
	117,000		Vinda International Holdings Ltd		165
	70,994		WD-40 Co		2,699
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,788,954
INSURANCE - 3.8%
	4,191,424		ACE Ltd		244,149
	1,632,341		Admiral Group plc		42,720
	2,223,048	*	Aegon NV		13,319
	4,079,922		Aflac, Inc		210,973
	13,865	*	Alleghany Corp		4,202
	823,964		Allianz AG.		93,119
	379,032		Allied World Assurance Holdings Ltd		21,449
	2,072,275		Allstate Corp		65,380
	8,852	*	Alm Brand AS		77
	1,344,910	*	Ambac Financial Group, Inc		746
	292,195		American Equity Investment Life Holding Co		2,992
	712,227		American Financial Group, Inc		21,780
	262,409	*	American International Group, Inc		10,260
	19,050		American National Insurance Co		1,447
	36,325		American Physicians Capital, Inc		1,506
	32,569		American Physicians Service Group, Inc		1,054
	83,410	*	American Safety Insurance Holdings Ltd		1,363
	80,545	*	Amerisafe, Inc		1,513
	12,414		Amil Participacoes S.A.		119
	820,474		Amlin plc		5,172
	2,523,666		AMP Ltd		12,465
	110,166		Amtrust Financial Services, Inc		1,600
	701,970		AON Corp		27,454
	42,196		April Group		1,237
	311,843	*	Arch Capital Group Ltd		26,132
	174,070		Argo Group International Holdings Ltd		6,047
	213,739		Arthur J. Gallagher & Co		5,636
	538,200		Aspen Insurance Holdings Ltd		16,297
	1,022,905		Assicurazioni Generali S.p.A.		20,596
	389,553		Assurant, Inc		15,855
	390,320		Assured Guaranty Ltd		6,678
	3,882,058		Aviva plc		24,326
	1,073,350		AXA Asia Pacific Holdings Ltd		5,332

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,029,455		AXA S.A.	$	35,482
	2,605,602		Axis Capital Holdings Ltd		85,829
	4,146		Bajaj Finserv Ltd		49
	35,293		Baldwin & Lyons, Inc (Class B)		898
	38,959		Baloise Holding AG.		3,513
	1,442,835		Beazley plc		2,620
	5,414,997	*	Berkshire Hathaway, Inc (Class B)		447,711
	144,097		Brit Insurance Holdings NV		2,320
	249,574		Brown & Brown, Inc		5,039
	9,680,071		Cathay Financial Holding Co Ltd		14,795
	775,966		Catlin Group Ltd		4,151
	739,021		Chaucer Holdings plc		563
	147,946		Chesnara plc		502
	1,169,308	*	China Insurance International Holdings Co Ltd		3,926
	1,802,592		China Life Insurance Co Ltd		1,561
	12,050,419		China Life Insurance Co Ltd - H		47,603
	1,643,000		China Pacific Insurance Group Co Ltd		6,173
	964,387		Chubb Corp		54,960
	300,800		Cincinnati Financial Corp		8,678
	173,276	*	Citizens, Inc (Class A)		1,194
	26,645	*	Clal Insurance		652
	57,349	*	CNA Financial Corp		1,605
	104,085	*	CNA Surety Corp		1,865
	457,714		CNP Assurances		8,502
	1,107,198	*	Conseco, Inc		6,134
	1,134,661		Corp Mapfre S.A.		3,453
	152,184	*	Crawford & Co (Class B)		370
	11,667		Dai-ichi Mutual Life Insurance Co		14,088
	244,318		Delphi Financial Group, Inc (Class A)		6,106
	58,020		Delta Lloyd NV		1,084
	373,054		Discovery Holdings Ltd		2,094
	53,840		Donegal Group, Inc (Class A)		704
	60,707		Dongbu Insurance Co Ltd		1,877
	103,629	*	eHealth, Inc		1,339
	36,227		EMC Insurance Group, Inc		772
	186,701		Employers Holdings, Inc		2,944
	253,640		Endurance Specialty Holdings Ltd		10,095
	31,632	*	Enstar Group Ltd		2,296
	68,957		Erie Indemnity Co (Class A)		3,866
	18,876		Euler Hermes S.A.		1,540
	223,317		Everest Re Group Ltd		19,310
	46,292		Fairfax Financial Holdings Ltd		18,852
	29,619		FBD Holdings plc		261
	72,480		FBL Financial Group, Inc (Class A)		1,883
	481,414		Fidelity National Title Group, Inc (Class A)		7,563
	507,833		First American Financial Corp		7,587
	125,748		First Mercury Financial Corp		1,268
	326,055		Flagstone Reinsurance Holdings Ltd		3,459
	74,330		Fondiaria-Sai S.p.A RSP		473
	98,593		Fondiaria-Sai S.p.A.		996
	2,661,031		Fortis		7,618
	44,544	*	Fpic Insurance Group, Inc		1,563

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	238,000	*	Fuji Fire & Marine Insurance Co Ltd	$	322
	1,359,805	*	Genworth Financial, Inc (Class A)		16,617
	718,945		Great-West Lifeco, Inc		17,790
	135,436	*	Greenlight Capital Re Ltd (Class A)		3,389
	80,721		Grupo Catalana Occidente S.A.		1,535
	71,906	*	Hallmark Financial Services		628
	251,080		Hannover Rueckversicherung AG.		11,549
	93,087		Hanover Insurance Group, Inc		4,375
	11,401		Harel Insurance Investments & Finances Ltd		595
	51,369		Harleysville Group, Inc		1,684
	1,339,119		Hartford Financial Services Group, Inc		30,733
	466,225		HCC Insurance Holdings, Inc		12,164
	12,598		Helvetia Holding AG.		4,378
	141,002	*	Hilltop Holdings, Inc		1,351
	522,682		Hiscox Ltd		2,864
	237,548		Horace Mann Educators Corp		4,224
	5,640		Hyundai Marine & Fire Insurance Co Ltd		110
	190,014		Industrial Alliance Insurance and Financial Services, Inc		5,836
	69,102		Infinity Property & Casualty Corp		3,370
	199,669		ING Canada, Inc		8,851
	2,475,444		Insurance Australia Group Ltd		8,709
	385,301	*	Irish Life & Permanent Group Holdings plc		730
	209,880		Jardine Lloyd Thompson Group plc		1,904
	18,190		Kansas City Life Insurance Co		567
	256,770		Korea Life Insurance Co Ltd		1,718
	227,090		Lancashire Holdings Ltd		1,980
	18,258,972		Legal & General Group plc		29,687
	294,698		Liberty Holdings Ltd		2,995
	2,366,225		Lincoln National Corp		56,600
	655,060		Loews Corp		24,827
	217,158		Maiden Holdings Ltd		1,653
	2,447,982		Manulife Financial Corp		30,882
	20,211	*	Markel Corp		6,965
	1,235,090		Marsh & McLennan Cos, Inc		29,790
	1,467,662		Max Capital Group Ltd		29,236
	299,562	*	MBIA, Inc		3,011
	333,688		Meadowbrook Insurance Group, Inc		2,993
	499,903		Mediolanum S.p.A.		2,223
	31,431	*	Menorah Mivtachim Holdings Ltd		393
	54,764		Mercury General Corp		2,238
	6,328,271		Metlife, Inc		243,322
	325,021		Milano Assicurazioni S.p.A.		608
	83,529		Milano Assicurazioni S.p.A. (RSP)		180
	1,816,357		Millea Holdings, Inc		48,999
	675,157		Mitsui Sumitomo Insurance Group Holdings, Inc		15,504
	380,630		Montpelier Re Holdings Ltd		6,593
	386,988		Muenchener Rueckver AG.		53,600
	224,613	*	National Financial Partners Corp		2,846
	30,825		National Interstate Corp		671
	10,407		National Western Life Insurance Co (Class A)		1,464
	56,626	*	Navigators Group, Inc		2,527

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,916,029	*	NKSJ Holdings, Inc	$	12,027
	96,279		Novae Group plc		499
	33,846		NYMAGIC, Inc		869
	5,758,538		Old Mutual plc		12,556
	501,660		Old Republic International Corp		6,948
	49,508		OneBeacon Insurance Group Ltd (Class A)		707
	25,000,000	*	Panin Life Tbk PT		513
	808,404		PartnerRe Ltd		64,818
	486,023	*	Phoenix Cos, Inc		1,021
	79,180	*	Phoenix Holdings Ltd		248
	6,263,000	*	PICC Property & Casualty Co Ltd		8,476
	3,121,500		Ping An Insurance Group Co of China Ltd		31,863
	458,051		Platinum Underwriters Holdings Ltd		19,934
	147,472	*	PMA Capital Corp (Class A)		1,112
	230,631		Porto Seguro S.A.		2,958
	458,651		Power Corp Of Canada		11,947
	668,626		Power Financial Corp		18,911
	64,890		Powszechny Zaklad Ubezpieczen S.A.		9,152
	269,160	*	Premafin Finanziaria S.p.A.		325
	100,345		Presidential Life Corp		983
	114,536		Primerica, Inc		2,330
	2,080,635		Principal Financial Group		53,930
	158,653	*	ProAssurance Corp		9,137
	1,376,240		Progressive Corp		28,722
	330,776		Protective Life Corp		7,198
	4,479,541		Prudential Financial, Inc		242,702
	4,549,267		Prudential plc		45,487
	2,719,294		QBE Insurance Group Ltd		45,365
	342,948		Reinsurance Group of America, Inc (Class A)		16,561
	974,935		RenaissanceRe Holdings Ltd		58,457
	4,999,997		Resolution Ltd		19,244
	79,985		RLI Corp		4,529
	3,544,610		Royal & Sun Alliance Insurance Group plc		7,278
	53,573		Safety Insurance Group, Inc		2,251
	326,984		Sampo Oyj (A Shares)		8,831
	52,813		Samsung Fire & Marine Insurance Co Ltd		9,032
	76,510		Samsung Life Insurance Co Ltd		6,978
	3,617,002		Sanlam Ltd		13,648
	22,783		Schweizerische National-Versicherungs-Gesellschaft		742
	482,717		SCOR		11,536
	98,719		SeaBright Insurance Holdings, Inc		796
	297,663		Selective Insurance Group, Inc		4,849
	7,357,270	*	Shin Kong Financial Holding Co Ltd		2,638
	78,370		Societa Cattolica di Assicurazioni SCRL		2,038
	2,543		Sony Financial Holdings, Inc		8,286
	278,203		St. James’s Place plc		1,267
	245,197		Stancorp Financial Group, Inc		9,317
	1,897,994		Standard Life plc		6,893
	82,883		State Auto Financial Corp		1,261
	73,694		Stewart Information Services Corp		834
	565,864	*	Storebrand ASA		3,463
	212,400		Sul America SA		2,385

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	770,863		Sun Life Financial, Inc	$	20,169
	2,133,149		Suncorp-Metway Ltd		18,556
	23,676		Swiss Life Holding		2,696
	448,818		Swiss Reinsurance Co		19,681
	72,603		Symetra Financial Corp		759
	455,489		T&D Holdings, Inc		9,494
	20,238	*	Topdanmark AS		2,551
	330,170		Torchmark Corp		17,545
	2,230,727		Tower Australia Group Ltd		5,045
	230,786		Tower Group, Inc		5,389
	247,737		Tower Ltd		333
	288,641		Transatlantic Holdings, Inc		14,669
	1,986,771		Travelers Cos, Inc		103,511
	19,882		TrygVesta A.S.		1,195
	1,349,909		Unipol Gruppo Finanziario S.p.A.		982
	4,281,035		Unipol S.p.A.		2,101
	60,661	*	United America Indemnity Ltd		974
	114,753		United Fire & Casualty Co		2,434
	106,131		Unitrin, Inc		2,589
	121,897		Universal Insurance Holdings, Inc		547
	1,291,772		UnumProvident Corp		28,613
	516,183		Validus Holdings Ltd		13,607
	52,111		Vittoria Assicurazioni S.p.A.		256
	268,550		W.R. Berkley Corp		7,270
	3,437		Wesco Financial Corp		1,231
	15,659		White Mountains Insurance Group Ltd		4,830
	41,356		Wiener Staedtische Allgemeine Versicherung AG.		2,223
	3,560,730		XL Capital Ltd		77,125
	262,869		Zurich Financial Services AG.		61,608
			TOTAL INSURANCE		3,802,396
MATERIALS - 6.6%
	159,579		A. Schulman, Inc		3,216
	540,411		Acerinox S.A.		9,618
	270,000		Achilles Corp		375
	161,800		ADEKA Corp		1,642
	971,153		Adelaide Brighton Ltd		3,229
	917,833	*	Aditya Birla Minerals Ltd		1,034
	25,629	*	Advanced Metallurgical Group NV		221
	26,425	*	AEP Industries, Inc		624
	141,140		African Rainbow Minerals Ltd		3,402
	191,348		Agnico-Eagle Mines Ltd		13,604
	380,392		Agrium, Inc (Toronto)		28,541
	284,000	*	Aichi Steel Corp		1,453
	185,639		Air Liquide		22,647
	845,791		Air Products & Chemicals, Inc		70,048
	120,000		Air Water, Inc		1,426
	324,570		Airgas, Inc		22,055
	224,783		AK Steel Holding Corp		3,104
	1,656,674		Akzo Nobel NV		102,207
	257,270		Alamos Gold, Inc		4,386
	898,499		Albemarle Corp		42,059

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,102,786		Alcoa, Inc	$	25,465
	325,654		Allegheny Technologies, Inc		15,127
	321,855	*	Allied Nevada Gold Corp		8,529
	87,345	*	Altri SGPS S.A.		426
	2,953,685		Alumina Ltd		5,167
	5,856,000	*	Aluminum Corp of China Ltd		5,525
	1,108,620		Ambuja Cements Ltd		3,469
	104,085		AMCOL International Corp		2,726
	1,170,761		Amcor Ltd		7,367
	103,132		American Vanguard Corp		637
	216,000		AMVIG Holdings Ltd		173
	156,800	*	Anatolia Minerals Development Ltd		1,018
	572,080	*	Andean Resources Ltd		3,506
	1,710,720		Angang New Steel Co Ltd		2,747
	2,310		Anglo American plc		94
	4,236,506		Anglo American plc (London)		168,075
	173,646	*	Anglo Platinum Ltd		16,467
	479,139		AngloGold Ashanti Ltd		22,227
	1,322,870		Anhui Conch Cement Co Ltd		6,010
	1,077,025		Antofagasta plc		20,912
	210,730	*	Anvil Mining Ltd		703
	215,373		Aptargroup, Inc		9,836
	737,572		Aquarius Platinum Ltd		4,014
	126,964	*	ArcelorMittal		4,182
	124,741		Arch Chemicals, Inc		4,377
	98,770		Arkema		5,053
	3,114,113		Asahi Kasei Corp		17,160
	94,000		Asahi Organic Chemicals Industry Co Ltd		218
	1,400,825		Ashland, Inc		68,318
	2,671,070		Asia Cement Corp		2,723
	124,774		Associated Cement Co Ltd		2,749
	608,553	*	Atlas Iron Ltd		1,365
	195,294	*	Aura Minerals, Inc		757
	19,679		Auriga Industries (Class B)		364
	302,497	*	Aurizon Mines Ltd		2,087
	321,036		Ausdrill Ltd		667
	540,303	*	Avoca Resources Ltd		1,567
	240,637	*	Avocet Mining plc		636
	405,135	*	B2Gold Corp		756
	144,501		Balchem Corp		4,459
	415,160		Ball Corp		24,433
	1,636,250		Barrick Gold Corp		75,742
	1,748,934		Barrick Gold Corp (Canada)		80,826
	1,766,963		BASF AG.		111,420
	1,594,000		BBMG Corp		2,239
	641,399		Bemis Co		20,365
	4,646,122		BHP Billiton Ltd		174,733
	2,644,434		BHP Billiton plc		84,121
	151,287		Billerud AB		1,145
	1,185,963		BlueScope Steel Ltd		2,522
	341,213	*	Boise, Inc		2,214
	1,361,288		Boliden AB		20,620

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	568,156		Boral Ltd	$	2,532
	330,993		Bradespar S.A.		7,923
	211,328	*	Braskem S.A.		2,146
	118,620	*	Brockman Resources Ltd		427
	94,092	*	Brush Engineered Materials, Inc		2,676
	209,462		Buckeye Technologies, Inc		3,081
	108,462		Buzzi Unicem S.p.A.		1,146
	118,591		Buzzi Unicem S.p.A. RSP		712
	9,900		C Uyemura & Co Ltd		364
	351,270		Cabot Corp		11,441
	245,482	*	Calgon Carbon Corp		3,559
	219,668	*	Canfor Corp		1,789
	97,663		CAP S.A.		4,842
	274,119	*	Capital Gold Corp		1,324
	286,400	*	Capstone Mining Corp		941
	127,645		Carpenter Technology Corp		4,303
	136,572		Cascades, Inc		844
	71,010	*	Castle (A.M.) & Co		941
	49,381		CCL Industries		1,390
	318,932		Celanese Corp (Series A)		10,238
	81,180		Cementir S.p.A.		268
	338,630		Cementos Argos S.A.		2,368
	24,049		Cementos Portland Valderrivas S.A.		475
	16,139,473	*	Cemex S.A. de C.V.		13,806
	1,495,994	*	Centamin Egypt Ltd		4,160
	422,302		Centerra Gold, Inc		6,813
	307,916	*	Century Aluminum Co		4,055
	646,405		CF Industries Holdings, Inc		61,732
	66,644		Cheil Industries, Inc		5,833
	3,348,000		China BlueChemical Ltd		2,434
	1,801,861		China National Building Material Co Ltd		4,222
	15,267,113		China Steel Corp		15,784
	568,000		China XLX Fertiliser Ltd		242
	4,686,400		China Zhongwang Holdings Ltd		2,905
	111,000		Chuetsu Pulp & Paper Co Ltd		198
	124,000		Chugoku Marine Paints Ltd		887
	122,873		Cimpor Cimentos de Portugal S.A.		791
	2,179,679	*	Citadel Resource Group Ltd		832
	355,689	*	Clariant AG.		5,201
	77,760	*	Clearwater Paper Corp		5,916
	484,088		Cleveland-Cliffs, Inc		30,943
	602,213	*	Coal of Africa Ltd		806
	492,549	*	Coeur d’Alene Mines Corp		9,812
	113,100	*	Colossus Minerals, Inc		882
	618,990		Commercial Metals Co		8,969
	997,636		Companhia Siderurgica Nacional S.A.		17,294
	2,571,594		Companhia Vale do Rio Doce		79,488
	811,009		Companhia Vale do Rio Doce (ADR)		25,360
	3,094,076		Companhia Vale do Rio Doce (Preference)		84,667
	49,602		Compania de Minas Buenaventura S.A.		2,253
	274,555		Compania de Minas Buenaventura S.A. (ADR) (Series B)		12,404

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	86,132	*	Compania Vale Do Ro Doce	$	0	^
	102,230		Compass Minerals International, Inc		7,833
	261,407	*	Consolidated Thompson Iron Mines Ltd		2,241
	450	*	Corinth Pipeworks S.A.		0	^
	37,202	*	Corvus Gold, Inc		31
	180,553		CRH plc		2,964
	294,964		Croda International		6,867
	1,339,526	*	Crown Holdings, Inc		38,392
	140,972	*	Cudeco Ltd		275
	1,148,902		Cytec Industries, Inc		64,775
	144,000	*	Dai Nippon Toryo Co Ltd		147
	988,550		Daicel Chemical Industries Ltd		6,655
	93,531	*	Daido Steel Co Ltd		455
	105,000		Daiken Corp		278
	85,857		Dainichiseika Color & Chemicals Manufacturing Co Ltd		388
	1,167,675		Dainippon Ink and Chemicals, Inc		2,056
	107,872		Daio Paper Corp		756
	90,000		Daiso Co Ltd		253
	21,563		DC Chemical Co Ltd		6,685
	47,490		Deltic Timber Corp		2,128
	477,454		Denki Kagaku Kogyo KK		2,053
	108,332	*	Detour Gold Corp		3,129
	91,685		Dominion Mining Ltd		212
	359,010		Domtar Corporation		23,185
	45,710		Dongkuk Steel Mill Co Ltd		1,094
	5,211,157		Dow Chemical Co		143,098
	541,413		Dowa Holdings Co Ltd		3,223
	753,004		DS Smith plc		1,767
	529,873		DSM NV		27,146
	4,117,316		Du Pont (E.I.) de Nemours & Co		183,716
	719,856	*	DuluxGroup Ltd		1,899
	142,793		Eagle Materials, Inc		3,384
	27,000		Earth Chemical Co Ltd		889
	1,451,385	*	Eastern Platinum Ltd		2,003
	173,801		Eastman Chemical Co		12,861
	1,301,680		Ecolab, Inc		66,047
	423,015	*	ECU Silver Mining, Inc		308
	262,133		El Ezz Steel Co		886
	1,732,489		Eldorado Gold Corp		32,026
	653,216		Elementis plc		1,032
	51,490	*	Elval Aluminium Process Co		81
	221,816		Empresas CMPC S.A.		12,016
	11,432		EMS-Chemie Holding AG.		1,827
	924,253	*	Equinox Minerals Limited		5,192
	20,521		Eramet		6,064
	146,673	*	Ercros S.A.		163
	489,071	*	Eregli Demir ve Celik Fabrikalari TAS		1,741
	1,010,045		Eternal Chemical Co Ltd		1,057
	524,114		Eurasian Natural Resources Corp		7,562
	167,698	*	European Goldfields Ltd		1,777
	100,400	*	Exeter Resource Corp		655

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	578,050		Feng Hsin Iron & Steel Co	$	953
	250,635		Ferrexpo plc		1,214
	4,533,618	*,a	Ferro Corp		58,438
	131,172	*	Fertilizantes Fosfatados S.A.		1,380
	235,159	*	Fibria Celulose S.A.		4,067
	435,234		Filtrona plc		1,653
	94,330		First Quantum Minerals Ltd		7,174
	856,323		Fletcher Building Ltd		5,064
	235,551		FMC Corp		16,114
	5,233,733		Formosa Chemicals & Fibre Corp		12,648
	7,300,091		Formosa Plastics Corp		17,922
	3,692,777	*	Fortescue Metals Group Ltd		18,596
	4,349,300		Fosun International		3,459
	25,000		FP Corp		1,354
	250,085		Franco-Nevada Corp		7,868
	2,793,930		Freeport-McMoRan Copper & Gold, Inc (Class B)		238,574
	663,789		Fresnillo plc		12,951
	256,617	*	Fronteer Development Group, Inc		1,838
	61,952		Frutarom Industries Ltd		612
	8,861		Fuchs Petrolub AG.		939
	21,653		Fuchs Petrolub AG. (Preference)		2,510
	46,552		Fuji Seal International, Inc		968
	31,500		Fujimi, Inc		486
	580,000		Furukawa-Sky Aluminum Corp		1,619
	4,768,200		Fushan International Energy Group Ltd		3,233
	312,288	*	Gabriel Resources Ltd		1,809
	199,872	*	Gammon Gold, Inc		1,393
	171,319	*	Gem Diamonds Ltd		535
	224,949	*	General Moly, Inc		823
	584,733	*	Georgia Gulf Corp		9,555
	1,071,702		Gerdau S.A. Preference		14,378
	717,281	*	Gindalbie Metals Ltd		634
	177,109	*	Giralia Resources NL		462
	48,813		Givaudan S.A.		49,874
	252,163		Glatfelter		3,066
	313,214	*	Globe Specialty Metals, Inc		4,398
	175,000		Godo Steel Ltd		373
	1,254,534		Gold Fields Ltd		19,006
	40,000		Gold Fields Ltd (ADR)		611
	1,227,038		Goldcorp, Inc		53,308
	1,310,316	*	Golden Star Resources Ltd		6,473
	562,238	*	Golden Star Resources Ltd (Toronto)		2,770
	3,010,800		Goldsun Development & Construction Co Ltd		1,417
	71,726	*	Graham Packaging Co, Inc		848
	179,200	*	Grande Cache Coal Corp		1,102
	555,974	*	Grange Resources Ltd		330
	581,531	*	Graphic Packaging Holding Co		1,942
	2,055		Grasim Industries Ltd		102
	486,455	*	Great Basin Gold Ltd		1,182
	197,748	*,b	Great Southern Ltd		23
	110,593		Greif, Inc (Class A)		6,507
	125,321	*	Greystar Resources Ltd		505

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	164,905	*	Grupo Empresarial Ence S.A.	$	547
	5,651,282		Grupo Mexico S.A. de C.V. (Series B)		16,270
	72,000		Gun-Ei Chemical Industry Co Ltd		191
	1,396,077		Gunns Ltd		789
	1,584	*	Gunns Ltd (Forest)		118
	709		Gurit Holding AG.		404
	104,942	*	Guyana Goldfields, Inc		1,065
	19,660		H&R WASAG AG.		462
	247,951		H.B. Fuller Co		4,927
	2,873	*	Hadera Paper Ltd		226
	118,038	*	Hanfeng Evergreen, Inc		723
	226,465		Hanwha Chemical Corp		5,432
	63,200		Hanwha Corp		2,439
	510,829		Harmony Gold Mining Co Ltd		5,716
	116,872	*	Harry Winston Diamond Corp		1,360
	45,375		Hawkins, Inc		1,607
	91,126		Haynes International, Inc		3,182
	278,871	*	Headwaters, Inc		1,004
	1,296,833	*	Hecla Mining Co		8,196
	6,285		HeidelbergCement AG.		303
	1,731,000		Hidili Industry International Development Ltd		1,700
	346,952	*	Highland Gold Mining Ltd		867
	2,289,246		Hindalco Industries Ltd		10,039
	253,838		Hitachi Chemical Co Ltd		4,737
	103,683		Hitachi Metals Ltd		1,221
	238,170		Hochschild Mining plc		1,665
	62,420		Hoganas AB (Class B)		2,023
	173,500		Hokuetsu Paper Mills Ltd		833
	17,438		Holcim Ltd		1,120
	39,813		Holmen AB (B Shares)		1,228
	39,162		Honam Petrochemical Corp		7,298
	186,220	*	Horsehead Holding Corp		1,838
	2,420,000		Huabao International Holdings Ltd		3,774
	331,692		HudBay Minerals, Inc		4,723
	163,847		Huhtamaki Oyj		2,104
	2,069,761		Huntsman Corp		23,926
	32,826		Hyosung Corp		3,541
	140,310		Hyundai Steel Co		14,397
	408,509		IAMGOLD Corp		7,234
	613,442	*	Iluka Resources Ltd		3,558
	1,659		Imerys S.A.		99
	765,569		Impala Platinum Holdings Ltd		19,770
	37,900	*	Imperial Metals Corp		842
	1,926,073		Incitec Pivot Ltd		6,683
	469,500	*	Indah Kiat Pulp and Paper Corp Tbk PT		122
	256,389		Independence Group NL		1,474
	353,408	*	Indophil Resources NL		318
	135,025		Industrias Penoles S.A. de C.V.		3,298
	65,285		Inmet Mining Corp		3,637
	101,290		Innophos Holdings, Inc		3,353
	294,049		International Flavors & Fragrances, Inc		14,267
	2,730,965		International Paper Co		59,399

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	74,405	*	International Tower Hill Mines Ltd	$	466
	89,087	*	Intrepid Potash, Inc		2,322
	513,354		Inversiones Argos S.A.		6,497
	441,000	*	Ishihara Sangyo Kaisha Ltd		306
	686,656		Israel Chemicals Ltd		9,686
	2,738	*	Israel Corp Ltd		2,616
	100,557		Italcementi S.p.A.		889
	188,269		Italcementi S.p.A. RNC		928
	9,144		Italmobiliare S.p.A.		306
	59,723		Italmobiliare S.p.A. RSP		1,420
	114,249	*	Ivanhoe Australia Ltd		315
	308,939	*	Ivanhoe Mines Ltd		7,248
	369,987	*	Jaguar Mining, Inc		2,405
	115,800	*	Jaguar Mining, Inc (Toronto)		748
	396,249	*	James Hardie Industries NV		2,145
	218,740		JFE Holdings, Inc		6,690
	2,198,000		Jiangxi Copper Co Ltd		5,569
	492,361		Jindal Steel & Power Ltd		7,749
	143,700	*	Jinshan Gold Mines, Inc		661
	374,950		Johnson Matthey plc		10,378
	28,000	*	JSP Corp		318
	302,139		JSR Corp		5,143
	125,528		JSW Steel Ltd		3,725
	46,060		K+S AG.		2,757
	587,955	*	Kagara Zinc Ltd		369
	77,713		Kaiser Aluminum Corp		3,325
	176,513	*	Kalahari Minerals plc		412
	786,268		Kaneka Corp		4,719
	327,411		Kansai Paint Co Ltd		2,789
	56,000		Kanto Denka Kogyo Co Ltd		382
	193,107	*	Kapstone Paper and Packaging Corp		2,344
	115,253		Kazakhmys plc		2,629
	151,226		Kemira Oyj		2,080
	387,096		KGHM Polska Miedz S.A.		15,620
	192,248		Kingsgate Consolidated Ltd		2,155
	1,630,020		Kinross Gold Corp		30,576
	77,338	*	Kirkland Lake Gold, Inc		652
	537,865		Klabin S.A.		1,494
	815,013		KME Group S.p.A.		333
	29,166		KMG Chemicals, Inc		411
	35,000		Koatsu Gas Kogyo Co Ltd		207
	3,613,597		Kobe Steel Ltd		8,484
	130,058		Koppers Holdings, Inc		3,495
	11,431		Korea Zinc Co Ltd		3,138
	46,169	*	KRATON Polymers LLC		1,253
	118,000		Krosaki Harima Corp		449
	303,943		Kumba Iron Ore Ltd		15,826
	171,857		Kumba Resources Ltd		2,969
	63,000		Kumiai Chemical Industry Co Ltd		203
	253,265		Kuraray Co Ltd		3,198
	172,000		KUREHA CORP		905
	22,900		Kyoei Steel Ltd		304

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	387,725	*	La Seda de Barcelona S.A. (Class B)	$	36
	8,100		Labrador Iron Ore Royalty Income Fund		426
	556,020		Lafarge Malayan Cement BHD		1,421
	96,442		Lafarge S.A.		5,522
	368,800	*	Lake Shore Gold Corp		1,290
	116,857	*	Landec Corp		726
	2,397,452		Lanxess AG.		131,354
	2,661,000		Lee & Man Paper Manufacturing Ltd		2,349
	79,138		LG Chem Ltd		23,146
	180,052		Linde AG.		23,436
	75,600		Lintec Corp		1,665
	10,853	*	Lonmin plc		285
	533,759	*	Louisiana-Pacific Corp		4,041
	74,655	*	LSB Industries, Inc		1,386
	543,365		Lubrizol Corp		57,580
	240,000		Luks Group Vietnam Holdings Ltd		89
	747,470	*	Lundin Mining Corp		3,734
	2,292,159	*	Lynas Corp Ltd		3,024
	2,660,000		Maanshan Iron & Steel		1,663
	5,713,530		MacArthur Coal Ltd		64,778
	61,469	*	MAG. Silver Corp		468
	32,980		Major Drilling Group International		949
	279,567		Makhteshim-Agan Industries Ltd		1,036
	279,237		Marshalls plc		476
	143,953		Martin Marietta Materials, Inc		11,080
	51,900		Maruichi Steel Tube Ltd		995
	20,086		Mayr-Melnhof Karton AG.		2,037
	674,147		MeadWestvaco Corp		16,436
	249,747		Mechel (ADR)		2,055
	631,856		Mechel Steel Group OAO (ADR)		15,733
	287,027	*	Medusa Mining Ltd		1,357
	260,200	*	Mercator Minerals Ltd		652
	11,617	*	METabolic EXplorer S.A.		101
	95,936	*	Metals USA Holdings Corp		1,245
	518,900		Metalurgica Gerdau S.A.		8,378
	137,200		Methanex Corp		3,363
	1,194,432		Mexichem SAB de C.V.		3,342
	959,000		Midas Holdings Ltd		726
	60,700	*	Migao Corp		389
	1,461,509		Minara Resources Ltd		1,144
	956,324		Mincor Resources NL		1,765
	95,897	*	Minefinders Corp		937
	776,818	*	Mineral Deposits Ltd		785
	113,974		Minerals Technologies, Inc		6,715
	17,784		Miquel y Costas & Miquel S.A.		454
	443,807	*	Mirabela Nickel Ltd		734
	1,323,643		Mitsubishi Chemical Holdings Corp		6,723
	329,337		Mitsubishi Gas Chemical Co, Inc		1,913
	876,625	*	Mitsubishi Materials Corp		2,520
	400,000		Mitsubishi Paper Mills Ltd		422
	194,000	*	Mitsubishi Steel Manufacturing Co Ltd		400
	842,017		Mitsui Chemicals, Inc		2,269

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	2,470,299		Mitsui Mining & Smelting Co Ltd	$	7,072
	286,500		Mitsui Mining Co Ltd		422
	223,240		Mittal Steel South Africa Ltd		2,637
	999,212		MMC Norilsk Nickel (ADR)		17,037
	202,452		MMC Norilsk Nickel (ADR) (London)		3,432
	213,118	*	MMX Mineracao e Metalicos S.A.		1,616
	289,038	*	Molycorp, Inc		8,177
	794,681		Mondi plc		6,423
	3,136,883		Monsanto Co		150,352
	945,159		Mosaic Co		55,538
	1,234,478	*	Mount Gibson Iron Ltd		2,088
	276,506	*	M-real Oyj (B Shares)		1,104
	432,570	*	Murchison Metals Ltd		694
	190,773		Myers Industries, Inc		1,639
	105,633		Mytilineos Holdings S.A.		616
	124,000	*	Nakayama Steel Works Ltd		175
	526,536		Nalco Holding Co		13,274
	8,304,057		Nan Ya Plastics Corp		18,181
	70,620		Neenah Paper, Inc		1,073
	407,600	*	Neo Material Technologies Inc		1,949
	42,400		Neturen Co Ltd		326
	271,400	*	Nevsun Resources Ltd		1,322
	607,502	*	New Gold, Inc		4,074
	1,676,231		New World Resources NV		19,275
	1,060,842		Newcrest Mining Ltd		40,676
	45,352		NewMarket Corp		5,156
	1,728,150		Newmont Mining Corp		108,545
	61,000		Nihon Nohyaku Co Ltd		351
	64,874		Nihon Parkerizing Co Ltd		846
	306,000		Nihon Yamamura Glass Co Ltd		792
	2,550,000		Nine Dragons Paper Holdings Ltd		4,417
	121,000		Nippon Denko Co Ltd		955
	304,000		Nippon Kayaku Co Ltd		2,964
	102,000	*	Nippon Koshuha Steel Co Ltd		111
	701,000	*	Nippon Light Metal Co Ltd		1,310
	181,000		Nippon Metal Industry Co Ltd		239
	416,523		Nippon Paint Co Ltd		2,809
	202,990		Nippon Paper Group, Inc		5,080
	185,000		Nippon Shokubai Co Ltd		1,609
	279,000		Nippon Soda Co Ltd		1,143
	2,267,828		Nippon Steel Corp		7,715
	101,810		Nippon Synthetic Chemical Industry Co Ltd		607
	194,000		Nippon Valqua Industries Ltd		560
	149,500		Nippon Yakin Kogyo Co Ltd		458
	128,322		Nissan Chemical Industries Ltd		1,446
	234,425		Nisshin Steel Co Ltd		418
	129,000	*	Nittetsu Mining Co Ltd		460
	315,654		Nitto Denko Corp		12,346
	296,876	*	Nkwe Platinum Ltd		159
	45,222		NL Industries, Inc		411
	229,000		NOF Corp		1,007
	67,763	*	Noranda Aluminium Holding Corp		557

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	29,985	*	Norbord, Inc	$	332
	53,772		Norddeutsche Affinerie AG.		2,562
	39,504		Norsk Hydro ASA		238
	221,100	*	Norske Skogindustrier ASA		442
	155,822	*	North American Palladium Ltd		644
	147,385		Northam Platinum Ltd		972
	81,363	*	Northern Dynasty Minerals		690
	205,853	*	Northern Iron Ltd		358
	521,658	*	Northgate Minerals Corp		1,577
	202,049	*	Novagold Resources, Inc		1,754
	131,971	f	Novolipetsk Steel (GDR)		4,751
	9,166		Novozymes AS (B Shares)		1,166
	640,142		Nucor Corp		24,453
	236,670		Nufarm Ltd		826
	552,491		Nuplex Industries Ltd		1,301
	125,611		Nyrstar		1,676
	393,500	*	OceanaGold Corp		1,449
	10,300		Ohara, Inc		144
	1,399,893		OJI Paper Co Ltd		6,188
	104,000		Okamoto Industries, Inc		441
	357,185		Olin Corp		7,201
	46,571		Olympic Steel, Inc		1,071
	156,102	*	OM Group, Inc		4,702
	350,588		OM Holdings Ltd		549
	371,317	*	Omnova Solutions, Inc		2,670
	1,615,257		OneSteel Ltd		4,574
	1,023,224		Orica Ltd		25,427
	21,600		Osaka Steel Co Ltd		330
	504,474	*	Osisko Mining Corp		7,183
	5,676		Outokumpu Oyj		113
	526,137	*	Owens-Illinois, Inc		14,763
	2,637,071		Oxiana Ltd		3,709
	251,507		Pacific Metals Co Ltd		2,052
	16,900		Pack Corp		319
	583,178		Packaging Corp of America		13,512
	421,042	*	Pactiv Corp		13,886
	116,796		Pan American Silver Corp		3,443
	3,555,524	*	Pan Australian Resources Ltd		2,234
	39,692		Papeles y Cartones de Europa S.A.		200
	1,435,366	*	PaperlinX Ltd		610
	1,030	*	Penford Corp		5
	373,349	*	Perilya Ltd		162
	560,970	*	Perseus Mining Ltd		1,572
	279,486		Peter Hambro Mining plc		4,873
	274,367	*	Petra Diamonds Ltd		357
	264,041	*	Pike River Coal Ltd		219
	412,977	*	Platinum Australia Ltd		265
	144,480	*,f	Polymetal (ADR)		2,225
	624,307	*	PolyOne Corp		7,548
	34,839		Polyus Gold Co (ADR)		895
	84,102		Polyus Gold Co (ADR) (London)		2,182
	190,633		Portucel Empresa Produtora de Pasta e Papel S.A.		563

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account
SHARES			COMPANY	VALUE (000)
	101,571		POSCO	$	45,964
	55,000	*	Potash Corp of Saskatchewan		7,922
	526,782		Potash Corp of Saskatchewan Toronto		75,513
	699,665		PPG Industries, Inc		50,936
	822,626		Praxair, Inc		74,250
	1,064,454		Pretoria Portland Cement Co Ltd		4,881
	3,985,500		PT Aneka Tambang Tbk		1,061
	2,143,800		PT Indocement Tunggal Prakarsa Tbk		4,420
	17,795,000		PT International Nickel Indonesia Tbk		9,720
	4,327,500		PT Semen Gresik Persero Tbk		4,800
	454,500		PTT Chemical PCL		2,022
	332,003	*	Quadra Mining Ltd		4,872
	49,483		Quaker Chemical Corp		1,611
	78,900	*	Queenston Mining, Inc		362
	92,965		Randgold Resources Ltd		9,303
	3,762		Rautaruukki Oyj		78
	102,294		Recticel S.A.		958
	22,700	*	Recylex S.A.		206
	6,518,000		Regent Pacific Group Ltd		202
	431,917	*	Regis Resources Ltd		614
	478,538		Reliance Steel & Aluminum Co		19,874
	420,000		Rengo Co Ltd		2,712
	685,290	*	Resolute Mining Ltd		901
	1,427,495		Rexam plc		6,884
	41,472	*	RHI AG.		1,212
	246,250		Rhodia S.A.		5,900
	1,215,983		Rio Tinto Ltd		90,228
	4,001,633		Rio Tinto plc		233,908
	73,200		Rio Tinto plc (ADR)		4,299
	216,298		Rock-Tenn Co (Class A)		10,774
	306,349	*	Rockwood Holdings, Inc		9,641
	164,185		Royal Gold, Inc		8,183
	265,738		RPM International, Inc		5,294
	134,664	*	RTI International Metals, Inc		4,123
	231,900	*	Rubicon Minerals Corp		953
	22,305		Sa des Ciments Vicat		1,577
	163,000		Sakai Chemical Industry Co Ltd		683
	842,604		Sally Malay Mining Ltd		2,207
	1,697		Salzgitter AG.		110
	114,801	*	Sandfire Resources NL		769
	131,000		Sanyo Chemical Industries Ltd		1,022
	146,000	*	Sanyo Special Steel Co Ltd		717
	751,964		Sappi Ltd		3,871
	477,184		Satipel Industrial S.A.		5,175
	18,851		Schmolz + Bickenbach AG.		552
	605,955		Schnitzer Steel Industries, Inc (Class A)		29,256
	82,113		Schweitzer-Mauduit International, Inc		4,788
	305,101		Scotts Miracle-Gro Co (Class A)		15,783
	765,231		Sealed Air Corp		17,202
	774,000		Sekisui Plastics Co Ltd		3,421
	561,400	*	SEMAFO, Inc		5,304
	142,364		Semapa-Sociedade de Investimento e Gestao		1,510

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	191,877	*	Senomyx, Inc	$	764
	225,720		Sensient Technologies Corp		6,882
	27,948		Sequana		379
	509,553		Sesa Goa Ltd		3,722
	255,898	*,f	Severstal (GDR)		3,787
	562,318		Sherritt International Corp		4,378
	470,482		Sherwin-Williams Co		35,352
	47,000		Shikoku Chemicals Corp		276
	604,693		Shin-Etsu Chemical Co Ltd		29,445
	92,900		Shin-Etsu Polymer Co Ltd		524
	1,274,821		Showa Denko KK		2,443
	1,443		Shree Cement Ltd		68
	486,100		Siam Cement PCL reg		5,894
	49,044	*	Sidenor Steel Products Manufacturing Co S.A.		157
	387,247		Sigma-Aldrich Corp		23,382
	3,629		Sika AG.		6,696
	290,915		Silgan Holdings, Inc		9,222
	111,742	*	Silver Standard Resources, Inc		2,226
	524,438	*	Silver Wheaton Corp		13,966
	382,419		Silvercorp Metals, Inc		3,144
	229,948		Sims Group Ltd		3,921
	3,754,000		Sinochem Hong Kong Holding Ltd		2,163
	298,114	*	Sino-Forest Corp		4,966
	5,860,600		Sinopec Shanghai Petrochemical Co Ltd		2,417
	246,083	*	Smurfit Kappa Group plc		2,472
	435,963	*	Smurfit-Stone Container Enterprises, Inc		8,009
	79,584	*	Sociedad Nacional de Industrias Apicaciones Celulosa Espanola S.A.		114
	130,641		Sociedad Quimica y Minera de Chile S.A. (Class B)		6,321
	4,088		Societe Internationale de Plantations d’Heveas S.A.		363
	548,491	*	Solutia, Inc		8,787
	9,633		Solvay S.A.		1,028
	71,427	*	Sonae Industria SGPS S.A.		204
	1,221,154		Sonoco Products Co		40,836
	700,305		Southern Copper Corp (NY)		24,595
	209,378	*	Spartech Corp		1,719
	109,222	*	Sprott Resource Corp		456
	8,061		Ssab Svenskt Stal AB (Series A)		129
	11,484		Ssab Svenskt Stal AB (Series B)		161
	3,591,574	*	St Barbara Ltd		1,354
	17,200		ST Corp		205
	874,118		Steel Authority Of India		3,990
	500,827		Steel Dynamics, Inc		7,067
	11,900		Stella Chemifa Corp		414
	17,500		Stella-Jones, Inc		470
	33,943		Stepan Co		2,006
	1,855,875		Sterlite Industries India Ltd		6,893
	222,466	*	Stillwater Mining Co		3,746
	8,987		STO AG.		931
	530,342		Stora Enso Oyj (R Shares)		5,242
	122,412	*	STR Holdings, Inc		2,637
	583,390		Straits Resources Ltd		1,043

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	882,221		Sumitomo Bakelite Co Ltd	$	4,449
	4,503,232		Sumitomo Chemical Co Ltd		19,743
	418,000	*	Sumitomo Light Metal Industries Ltd		466
	8,601,836		Sumitomo Metal Industries Ltd		21,742
	913,305		Sumitomo Metal Mining Co Ltd		13,949
	1,234,193		Sumitomo Osaka Cement Co Ltd		2,114
	61,000		Sumitomo Seika Chemicals Co Ltd		248
	25,612		Sumitomo Titanium Corp		1,200
	3,011,979	*	Sundance Resources Ltd		728
	263,038		Suzano Papel e Celulose S.A.		2,495
	951,690		Svenska Cellulosa AB (B Shares)		14,472
	192,072		Symrise AG.		5,338
	76,028		Syngenta AG.		18,894
	29,500		T Hasegawa Co Ltd		522
	1,028,090	*	Taiheiyo Cement Corp		1,207
	5,644,065		Taiwan Cement Corp		6,034
	1,100,500		Taiwan Fertilizer Co Ltd		3,438
	22,900		Taiyo Ink Manufacturing Co Ltd		641
	251,050		Taiyo Nippon Sanso Corp		2,135
	103,000		Takasago International Corp		495
	90,000		Takiron Co Ltd		299
	222,395	*	Talvivaara Mining Co Plc		1,718
	12,000		Tanaka Chemical Corp		145
	124,754	*	Tanzanian Royalty Exploration Corp		897
	426,259	*	Taseko Mines Ltd		2,200
	452,234		Tata Steel Ltd		6,560
	1,000,000		TCC International Holdings Ltd		353
	1,222,612		Teck Cominco Ltd		50,288
	6,727,678		Teijin Ltd		22,243
	346,771		Temple-Inland, Inc		6,471
	22,400		Tenma Corp		230
	30,390		Tessenderlo Chemie NV		947
	93,099		Texas Industries, Inc		2,934
	40,380	*	Texas Petrochemicals, Inc		962
	643,617	*	Thompson Creek Metals Co, Inc		6,938
	194,881	*	Thompson Creek Metals Co, Inc (Toronto)		2,101
	15,011		ThyssenKrupp AG.		489
	36,799	*	Tikkurila Oy		797
	75,265		Titan Cement Co S.A.		1,530
	1,041,966	*	Titanium Metals Corp		20,798
	331,000		Toagosei Co Ltd		1,400
	40,000		Toda Kogyo Corp		378
	42,400		Toho Titanium Co Ltd		1,171
	316,000		Toho Zinc Co Ltd		1,272
	491,000		Tokai Carbon Co Ltd		3,070
	293,651		Tokushu Tokai Holdings Co Ltd		721
	918,929		Tokuyama Corp		4,667
	55,100		Tokyo Ohka Kogyo Co Ltd		981
	178,000		Tokyo Rope Manufacturing Co Ltd		422
	34,810		Tokyo Steel Manufacturing Co Ltd		411
	246,000		Topy Industries Ltd		542
	846,758		Toray Industries, Inc		4,717

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,557,300		Tosoh Corp	$	6,893
	354,000		Toyo Ink Manufacturing Co Ltd		1,391
	131,000		Toyo Kohan Co Ltd		665
	508,676		Toyo Seikan Kaisha Ltd		9,164
	5,142	*	Trans Hex Group Ltd		3
	714,500		TSRC Corp		1,102
	122,685		Tubacex S.A.		430
	127,313	*	Tubos Reunidos S.A.		347
	856,676		Tung Ho Steel Enterprise Corp		801
	2,166,388		UBE Industries Ltd		4,801
	673		Ultra Tech Cement Ltd		16
	332,459		Umicore		14,372
	316,123		United Phosphorus Ltd		1,262
	10,223	*	United States Lime & Minerals, Inc		395
	506,541		United States Steel Corp		22,207
	35,909	*	Universal Stainless & Alloy		882
	1,964,721		UPM-Kymmene Oyj		33,668
	363,744	f	Uralkali (GDR)		7,984
	116,440	*	US Energy Corp Wyoming		529
	448,807	*	US Gold Corp		2,231
	220,100		Usinas Siderurgicas de Minas Gerais S.A.		3,352
	613,462		Usinas Siderurgicas de Minas Gerais S.A. (Preference)		8,230
	451,717		Valspar Corp		14,387
	32,104		Vedanta Resources plc		1,092
	101,100	*	Ventana Gold Corp		1,027
	26,628	*	Verbio AG		128
	43,562	*	Verso Paper Corp		125
	535		Vetropack Holding AG.		871
	110,582		Victrex plc		2,217
	124,807		Viohalco S.A.		628
	200,691		Voestalpine AG.		7,392
	406,051		Vulcan Materials Co		14,992
	64,524		Wacker Chemie AG.		11,906
	1,695,544		Walter Energy, Inc		137,831
	234,752	*	Wausau Paper Corp		1,946
	52,962		West Fraser Timber Co Ltd		1,946
	174,965		Western Areas NL		1,050
	361,600	*	Western Canadian Coal Corp		2,063
	93,524		Westlake Chemical Corp		2,799
	226,555	*	White Energy Co Ltd		854
	441,649		Worthington Industries, Inc		6,638
	892,929	*	WR Grace & Co		24,948
	1,442,816		Xstrata plc		27,606
	1,470,297		Yamana Gold, Inc		16,762
	21,600		Yamato Kogyo Co Ltd		523
	787,946		Yara International ASA		35,638
	175,000		Yodogawa Steel Works Ltd		721
	1,326,000		Yuen Foong Yu Paper Manufacturing Co Ltd		609
	155,058	*	Yule Catto & Co plc		591
	606,512		Zeon Corp		5,028
	97,104		Zep, Inc		1,693
	40,813		Zignago Vetro S.p.A.		264

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,670,000		Zijin Mining Group Co Ltd	$	4,823
	125,212	*	Zoltek Cos, Inc		1,217
			TOTAL MATERIALS		6,556,204
	MEDIA - 2.8%
	1,236,251		Aegis Group plc		2,398
	85,900	*	AH Belo Corp (Class A)		607
	88,610		Alma Media		831
	103,936		Antena 3 de Television S.A.		857
	740,041		APN News & Media Ltd		1,431
	119,391		Arbitron, Inc		3,339
	170,172	*	Arnoldo Mondadori Editore S.p.A.		535
	67,605	*	AS. Roma S.p.A		106
	40,900		Asatsu-DK, Inc		883
	63,457	*	Ascent Media Corp (Series A)		1,695
	76,265		Astral Media, Inc		2,865
	4,303,442	*	Austar United Communications Ltd		3,931
	342,089		Austereo Group Ltd		534
	44,759		Avex Group Holdings, Inc		600
	73,603	*	Ballantyne Strong, Inc		637
	9,671	*	Beasley Broadcasting Group, Inc		51
	1,399,700		BEC World PCL (Foreign)		1,787
	379,906	*	Belo (A.H.) Corp (Class A)		2,355
	17,220,000	*	Big Media Group Ltd		311
	4,972,481		British Sky Broadcasting plc		55,108
	1,029,499		Cablevision Systems Corp (Class A)		26,963
	151,860		Cairo Communication S.p.A.		585
	54,666		Caltagirone Editore S.p.A.		135
	89,250		Canal Plus		651
	60,281	*	Carmike Cinemas, Inc		526
	4,106,408		CBS Corp (Class B)		65,128
	46,681	*	Central European Media Enterprises Ltd (Class A)		1,157
	90,834	*	Central European Media Enterprises Ltd (Class A) Nasdaq		2,266
	177,699	*	Charm Communications, Inc (ADR)		1,390
	302,289		Cinemark Holdings, Inc		4,867
	94,500		Cineplex Galaxy Income Fund		1,909
	286,850	*	CKX, Inc		1,406
	214,020	*	Clear Channel Outdoor Holdings, Inc (Class A)		2,446
	25,899		Cogeco Cable, Inc		919
	14,683,142		Comcast Corp (Class A)		265,471
	4,400	*	COOKPAD, Inc		255
	109,111	*	Corus Entertainment, Inc		2,291
	93,361	*	Crown Media Holdings, Inc (Class A)		223
	29,642		CTS Eventim AG.		1,535
	96,071	*	Cumulus Media, Inc (Class A)		270
	841		CyberAgent, Inc		1,517
	71,305		Cyfrowy Polsat S.A.		367
	434,878		Daiichikosho Co Ltd		6,772
	632,421		Daily Mail & General Trust		5,226
	235,878		Dentsu, Inc		5,465
	275,187	*	Dex One Corp		3,379

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,017,343	*	DIRECTV	$	208,872
	1,737,432	*	Discovery Communications, Inc (Class A)		75,665
	722,475	*	Discovery Communications, Inc (Class C)		27,591
	2,172,429		DISH Network Corp (Class A)		41,624
	197,444	*	DreamWorks Animation SKG, Inc (Class A)		6,300
	80,662	*	EM.Sport Media AG.		176
	236,542	*	Eniro AB		211
	102,728	*	Entercom Communications Corp (Class A)		807
	213,710	*	Entravision Communications Corp (Class A)		425
	1,115,000	*	eSun Holdings Ltd		151
	56,754		Euromoney Institutional Investor plc		545
	69,089		Eutelsat Communications		2,637
	155,828	*	EW Scripps Co (Class A)		1,228
	35,959	*	Fisher Communications, Inc		627
	5,996	*	Focus Media Holding Ltd (ADR)		146
	4,656		Fuji Television Network, Inc		5,929
	77,000		Gakken Co Ltd		155
	695,295		Gannett Co, Inc		8,503
	77,911		Gestevision Telecinco S.A.		858
	23,525		GFK AG.		1,005
	74,866	*	Global Sources Ltd		565
	228,928	*	Gray Television, Inc		460
	294,423		Groupe Aeroplan, Inc		3,617
	3,462,039		Grupo Televisa S.A.		13,121
	174,408	*	Gruppo Editoriale L’Espresso S.p.A.		378
	18,256		Hakuhodo DY Holdings, Inc		883
	172,265		Harte-Hanks, Inc		2,010
	685,375		Havas S.A.		3,349
	51,624	*	Hi-Media S.A.		226
	27,171	*	Hot Telecommunication System Ltd		320
	71,537	*	Impresa SGPS		146
	461,167	*	Independent News & Media plc		399
	1,105,592		Informa plc		7,275
	3,641,938	*	Interpublic Group of Cos, Inc		36,529
	32,004		IPSOS		1,462
	10,004,967	*	ITV plc		9,375
	1,287,146	*	JC Decaux S.A.		33,980
	2,929,294		John Fairfax Holdings Ltd		4,148
	99,345		John Wiley & Sons, Inc (Class A)		4,059
	839,274	*	Johnston Press plc		191
	217,007	*	Journal Communications, Inc (Class A)		979
	3,381		Jupiter Telecommunications Co		3,645
	97,559	*	Juventus Football Club S.p.A.		114
	111,586	*	Kabel Deutschland Holding GmbH		4,190
	94,308		Kadokawa Holdings, Inc		2,067
	12,782		Kinepolis		836
	142,893	*	Knology, Inc		1,919
	5,265		Lagardere S.C.A.		206
	118,141	*	Lamar Advertising Co (Class A)		3,759
	197,769	*	Lee Enterprises, Inc		530
	895,244	*	Liberty Global, Inc (Class A)		27,582
	315,767	*	Liberty Media Corp - Capital (Series A)		16,439

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	329,138	*	Liberty Media Corp - Starz	$	21,354
	148,997	*	Lin TV Corp (Class A)		662
	298,309	*	Lions Gate Entertainment Corp		2,193
	726,998	*	Live Nation, Inc		7,183
	146,602	*	Lodgenet Entertainment Corp		410
	176,097		M6-Metropole Television		4,141
	242,810	*	Madison Square Garden, Inc		5,118
	110,584	*	Martha Stewart Living Omnimedia, Inc (Class A)		524
	209,178	*	McClatchy Co (Class A)		822
	1,511,093		McGraw-Hill Cos, Inc		49,957
	152,381	*	Mecom Group plc		624
	100,974	*	Media General, Inc (Class A)		905
	28,000,000	*	Media Nusantara Citra Tbk PT		1,318
	191,472	*	Mediacom Communications Corp (Class A)		1,266
	398,098		Mediaset S.p.A.		2,822
	72,843		Meredith Corp		2,426
	3,830		Modern Times Group AB (B Shares)		286
	70,836	*	Morningstar, Inc		3,156
	580,061		Naspers Ltd (N Shares)		28,361
	316,051		National CineMedia, Inc		5,657
	458,883	*	NET Servicos de Comunicacao S.A.		5,994
	283,901	*	New York Times Co (Class A)		2,197
	8,500,291		News Corp (Class A)		111,014
	23,786	*	Nexstar Broadcasting Group, Inc (Class A)		122
	798,000	*	Next Media Ltd		115
	23,585		NRJ Group		225
	2,417,785		Omnicom Group, Inc		95,454
	72		OPT, Inc		92
	830,000		Oriental Press Group		124
	80,152	*	Outdoor Channel Holdings, Inc		443
	27,583		PagesJaunes Groupe S.A.		289
	3,923,042		Pearson plc		60,733
	1,370,000		Phoenix Satellite Television Holdings Ltd		466
	1,076,000		Pico Far East Holdings Ltd		214
	120,262	*	Playboy Enterprises, Inc (Class B)		618
	432,257	*	Premiere AG.		604
	79,497		Primedia, Inc		302
	154,674	*	Promotora de Informaciones S.A.		348
	143,475		ProSiebenSat.1 Media AG.		3,409
	6,400	*	Proto Corp		270
	239,522		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		947
	146,372		Publicis Groupe S.A.		6,952
	2,390	*	PubliGroupe AG.		236
	308,348		Publishing & Broadcasting Ltd		986
	77,536		Quebecor, Inc		2,596
	137,132	*	Radio One, Inc		121
	213,601	*	RCS MediaGroup S.p.A.		322
	19,219	*	ReachLocal, Inc		265
	1,890,729		Reed Elsevier NV		23,842
	193,914		Reed Elsevier plc		1,639
	303,541		Regal Entertainment Group (Class A)		3,982

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,056	*	Rentrak Corp	$	1,139
	138,085		Rightmove plc		1,591
	5,449	*	Roularta Media Group NV		131
	11,911		Sanoma-WSOY Oyj		252
	110,302		Schibsted ASA		2,757
	162,988		Scholastic Corp		4,534
	575,403		Scripps Networks Interactive (Class A)		27,378
	1,404,474	*	Seat Pagine Gialle S.p.A.		290
	18,199		SeLoger.com		930
	124,793		SES Global S.A.		3,000
	778,899	*	Shaw Communications, Inc (B Shares)		17,154
	104,000		Shochiku Co Ltd		709
	188,187	*	Sinclair Broadcast Group, Inc (Class A)		1,321
	1,435,736		Singapore Press Holdings Ltd		4,640
	9,769,026	*	Sirius XM Radio, Inc		11,723
	364,724		Sky Network Television Ltd		1,325
	3,166		Sky Perfect Jsat Corp		1,046
	36,990		Societe Television Francaise 1		576
	505,161		Southern Cross Media Group		1,011
	3,061	*	Spir Communication		104
	951,350	*	Stroer Out-of-Home Media AG.		28,208
	675,618		STW Communications Group Ltd		532
	57,580	*	SuperMedia, Inc		609
	709,670	*	Telecom Italia Media S.p.A.		221
	552,514		Television Broadcasts Ltd		3,155
	1,335,195		Ten Network Holdings Ltd		1,787
	1,197,473		Thomson Corp		44,941
	478,952		Thomson Corp (Toronto)		18,006
	2,059,705		Time Warner Cable, Inc		111,203
	5,199,124		Time Warner, Inc		159,353
	228,000		Toei Animation Co Ltd		3,990
	342,885		Toei Co Ltd		1,536
	84,145		Toho Co Ltd		1,354
	22,600		Tohokushinsha Film Corp		105
	1,858,000	*	Tom Group Ltd		189
	148,979		Torstar Corp		1,837
	1,045,863	*	Trinity Mirror plc		1,787
	799		TV Asahi Corp		1,072
	5,700	m	TV Tokyo Corp		106
	171,723		TVN S.A.		1,027
	371,125		United Business Media Ltd		3,670
	143,246	*	Usen Corp		89
	247,182	*	Valassis Communications, Inc		8,377
	8,133		Value Line, Inc		113
	5,041,323		Viacom, Inc (Class B)		182,445
	1,647,218		Virgin Media, Inc		37,919
	3,674,214		Vivendi Universal S.A.		100,428
	11,274,162		Walt Disney Co		373,288
	248,441	*	Warner Music Group Corp		1,118
	29,585		Washington Post Co (Class B)		11,817
	296,699		West Australian Newspapers Holdings Ltd		2,050
	8,074	*	Westwood One, Inc		69

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,151		Wolters Kluwer NV	$	276
	113,292		World Wrestling Entertainment, Inc (Class A)		1,576
	7,382,654		WPP plc		81,704
	4,400,249	*	Yell Group plc		1,021
	434,517		Yellow Pages Income Fund		2,340
	325,217		ZEE Telefilms Ltd		2,173
	28,800		Zenrin Co Ltd		312
			TOTAL MEDIA		2,789,714
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.0%
	7,208,480		Abbott Laboratories		376,572
	73,781	*,b,m	Able Laboratories, Inc		0	^
	27,840	*	Ablynx NV		302
	13,954	*	Abraxis Bioscience, Inc		1,079
	255,099	*	Accelrys, Inc		1,775
	236,181	*	Acorda Therapeutics, Inc		7,799
	193,705	*	Acrux Ltd		447
	52,652	*	Actelion Ltd		2,110
	49,050	*	Active Biotech AB		877
	20,634	*	Acura Pharmaceuticals, Inc		51
	158,789	*	Affymax, Inc		945
	320,006	*	Affymetrix, Inc		1,459
	231,749	*	Akorn, Inc		936
	286,755		Alapis Holding Industrial and Commercial S.A.		618
	122,587	*	Albany Molecular Research, Inc		782
	181,661	*	Alexion Pharmaceuticals, Inc		11,692
	165,155	*	Alexza Pharmaceuticals, Inc		524
	52,810	*	Algeta ASA		844
	9,148		ALK-Abello AS		576
	443,755	*	Alkermes, Inc		6,501
	1,305,225		Allergan, Inc		86,837
	347,559	*	Allos Therapeutics, Inc		1,640
	151,624	*	Alnylam Pharmaceuticals, Inc		1,862
	91,030	*	AMAG Pharmaceuticals, Inc		1,567
	6,111,026	*	Amgen, Inc		336,780
	295,185	*	Amylin Pharmaceuticals, Inc		6,155
	120	*	AnGes MG, Inc		127
	730,629	*	Anthera Pharmaceuticals, Inc		3,061
	64,846	*	Ardea Biosciences, Inc		1,491
	480,923	*	Arena Pharmaceuticals, Inc		755
	463,207	*	Ariad Pharmaceuticals, Inc		1,769
	232,341	*	Arqule, Inc		1,197
	264,618	*	Array Biopharma, Inc		855
	31,000		ASKA Pharmaceutical Co Ltd		209
	373,234	*	Aspen Pharmacare Holdings Ltd		5,033
	79,935	*	AspenBio Pharma, Inc		41
	573,184		Astellas Pharma, Inc		20,701
	922,180		AstraZeneca plc		46,842
	733,009		AstraZeneca plc (ADR)		37,164
	184,121	*	Auxilium Pharmaceuticals, Inc		4,563
	1,298,175	*	AVANIR Pharmaceuticals, Inc		4,141
	20,590	*	AVEO Pharmaceuticals, Inc		229

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	443,201	*	AVI BioPharma, Inc	$	815
	6,936		Bachem Holding AG.		390
	11,315	*	Basilea Pharmaceutica		705
	14,033	*	Bavarian Nordic AS		504
	2,017,410		Bayer AG.		140,675
	17,199,208	*	BB Bioventures L.P.		2,355
	106,387	*	BioCryst Pharmaceuticals, Inc		526
	63,819	*	Biodel, Inc		338
	18,219		Biogaia AB (B Shares)		243
	765,234	*	Biogen Idec, Inc		42,945
	66,793	*	BioInvent International AB		284
	211,463	*	BioMarin Pharmaceuticals, Inc		4,726
	95,102	*	BioMimetic Therapeutics, Inc		1,084
	125,631	*	Bio-Rad Laboratories, Inc (Class A)		11,371
	262,830	*	Biosante Pharmaceuticals, Inc		442
	18,434	*	Biospecifics Technologies Corp		496
	247,808		Biota Holdings Ltd		229
	6,592		Biotest AG.		315
	23,105		Biotest AG. (Preference)		1,068
	91,099	*	Biotime, Inc		433
	652,381	*	Biovail Corp		16,342
	12,965,483	*,a	Biovitrum AB		86,368
	149,703	*	BMP Sunstone Corp		1,138
	17,606		Boiron S.A.		584
	9,921,575		Bristol-Myers Squibb Co		268,974
	464,150	*	Bruker BioSciences Corp		6,512
	375,427	*	BTG plc		1,345
	117,642	*	Cadence Pharmaceuticals, Inc		982
	215,423	*	Caliper Life Sciences, Inc		860
	197,430	*	Cambrex Corp		839
	40,000	*	Cangene Corp		144
	70,131	*	Caraco Pharmaceutical Laboratories Ltd		377
	160,761	*	Cardiome Pharma Corp		978
	534,057	*	Celera Corp		3,600
	4,009,962	*	Celgene Corp		231,014
	143,648	*	Celldex Therapeutics, Inc		575
	76,084	*	Celltrion, Inc		1,491
	510,244	*	Cephalon, Inc		31,860
	262,521	*	Cepheid, Inc		4,912
	139,564	*	Charles River Laboratories International, Inc		4,627
	125,254	*	Chelsea Therapeutics International, Inc		641
	101,874	*	China Aoxing Pharmaceutical Co, Inc		312
	642,000		China Shineway Pharmaceutical Group Ltd		2,263
	218,300		Chugai Pharmaceutical Co Ltd		4,011
	511,275		Cipla Ltd		3,668
	3,440,000	*	CK Life Sciences International Holdings, Inc		215
	33,517	*	Clal Biotechnology Industries Ltd		180
	55,620	*	Clinical Data, Inc		938
	1,750		CMIC Co Ltd		552
	13,485	*	Codexis, Inc		129
	282,132	*	Combinatorx, Inc		367
	67,528	*	Compound partnering business		762

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	108,840	*	Corcept Therapeutics, Inc	$	423
	50,092	*	Cornerstone Therapeutics, Inc		354
	134,474	*	Covance, Inc		6,292
	88,280	*	Crucell NV		2,949
	920,234		CSL Ltd		29,396
	353,346	*	Cubist Pharmaceuticals, Inc		8,265
	48,820	*	Cumberland Pharmaceuticals, Inc		284
	326,271	*	Curis, Inc		447
	142,431	*	Cypress Bioscience, Inc		548
	299,577	*	Cytokinetics, Inc		791
	160,272	*	Cytori Therapeutics, Inc		784
	449,697	*	Cytrx		337
	683,835		Daiichi Sankyo Co Ltd		13,909
	765,300		Dainippon Sumitomo Pharma Co Ltd		6,408
	91,589		Dechra Pharmaceuticals plc		676
	661,759	*	Dendreon Corp		27,251
	404,452	*	Depomed, Inc		1,812
	20,049	*	Devgen		197
	23,779	*	Diamyd Medical AB (B Shares)		467
	91,534	*	Dionex Corp		7,912
	190,905		Dr Reddy’s Laboratories Ltd		6,125
	375,438	*	Durect Corp		954
	387,067	*	Dyax Corp		917
	355,507	*	Dynavax Technologies Corp		651
	708,601		Eisai Co Ltd		24,777
	389,911	*	Elan Corp plc		2,193
	12,500	*	Elan Corp plc (ADR)		72
	3,191,710		Eli Lilly & Co		116,593
	142,246	*	Emergent Biosolutions, Inc		2,455
	876,306	*	Endo Pharmaceuticals Holdings, Inc		29,128
	164,819	*	Enzo Biochem, Inc		626
	236,185	*	Enzon Pharmaceuticals, Inc		2,657
	172		EPS Co Ltd		439
	273,110	*	eResearch Technology, Inc		2,043
	74,840	*	Eurand NV		736
	10,823		Eurofins Scientific		556
	134,852	*	Evotec AG.		427
	151,534	*	Exact Sciences Corp		1,097
	781,913	*	Exelixis, Inc		3,065
	43,001	*	ExonHit Therapeutics SA		153
	286,249		FAES FARMA S.A.		1,264
	2,035,759	*	Forest Laboratories, Inc		62,966
	90,000		Fuso Pharmaceutical Industries Ltd		270
	614,565	*	Galapagos NV		9,962
	55,641	*	Genmab AS		627
	60,131	*	Genomic Health, Inc		803
	49,100	*	Genomma Lab Internacional S.A. de C.V.		94
	83,086		Genus plc		1,025
	1,344,217	*	Genzyme Corp		95,157
	417,018	*	Geron Corp		2,306
	37,882		Gerresheimer AG.		1,516
	7,914,697	*	Gilead Sciences, Inc		281,842

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,043,005		GlaxoSmithKline plc	$	99,382
	50,470		Grifols S.A.		724
	397,353	*	Halozyme Therapeutics, Inc		3,064
	254,637		Hikma Pharmaceuticals plc		2,754
	61,800		Hisamitsu Pharmaceutical Co, Inc		2,524
	43,192	*	Hi-Tech Pharmacal Co, Inc		874
	1,459,088	*	Human Genome Sciences, Inc		43,466
	310,078	*	Idenix Pharmaceuticals, Inc		961
	605,370	*	Illumina, Inc		29,784
	296,243	*	Immunogen, Inc		1,857
	295,013	*	Immunomedics, Inc		950
	392,315	*	Impax Laboratories, Inc		7,768
	602,088	*	Incyte Corp		9,627
	82,065	*	Infinity Pharmaceuticals, Inc		452
	208,666	*	Inhibitex, Inc		376
	372,063	*	Inovio Biomedical Corp		465
	288,651	*	Inspire Pharmaceuticals, Inc		1,717
	110,097	*	Intercell AG.		2,494
	188,696	*	InterMune, Inc		2,570
	7,121		Ipsen		236
	77,629	*	Ironwood Pharmaceuticals, Inc		790
	413,731	*	Isis Pharmaceuticals, Inc		3,475
	64,090	*	Jazz Pharmaceuticals, Inc		688
	19,000	*	JCR Pharmaceuticals Co Ltd		227
	10,350,142		Johnson & Johnson		641,296
	171,681		Kaken Pharmaceutical Co Ltd		1,789
	125,163	*	Kendle International, Inc		1,167
	182,296	*	Keryx Biopharmaceuticals, Inc		877
	1,937,998	*	King Pharmaceuticals, Inc		19,302
	64,600		Kissei Pharmaceutical Co Ltd		1,255
	112,000		Kyorin Co Ltd		1,740
	417,067		Kyowa Hakko Kogyo Co Ltd		4,132
	884,884		Laboratorios Almirall S.A.		9,723
	42,891		Laboratorios Farmaceuticos Rovi S.A		297
	48,065	*	Lannett Co, Inc		220
	847,010	*	Lexicon Pharmaceuticals, Inc		1,355
	1,599,488	*	Life Technologies Corp		74,680
	534,112	*	Ligand Pharmaceuticals, Inc (Class B)		844
	1,194,626		Lonza Group AG.		102,059
	155,038	*	Luminex Corp		2,481
	268,649	*	MannKind Corp		1,816
	62,500	*	MAP Pharmaceuticals, Inc		956
	188,569	*	Martek Biosciences Corp		4,267
	126,339	*	Maxygen, Inc		732
	95,375	*	MDS, Inc		961
	446,723		Meda AB (A Shares)		3,566
	347,246	*	Medicines Co		4,931
	299,032		Medicis Pharmaceutical Corp (Class A)		8,866
	278,895	*	Medivation, Inc		3,626
	28,097	*	Medivir AB		495
	13,770,714		Merck & Co, Inc		506,901
	718,635		Merck KGaA		60,368

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	114,207	*	Metabolix, Inc	$	1,437
	85,429	*	Mettler-Toledo International, Inc		10,631
	356,910	*	Micromet, Inc		2,398
	157,000		Mochida Pharmaceutical Co Ltd		1,612
	170,855	*	Momenta Pharmaceuticals, Inc		2,571
	29,508	*	Morphosys AG.		671
	22,167,242	*,a	MPM Bioventures II		6,913
	4,211,624	*	Mylan Laboratories, Inc		79,221
	208,128	*	Myriad Genetics, Inc		3,415
	335,815	*	Nabi Biopharmaceuticals		1,612
	75,727	*	Nanosphere, Inc		381
	191,666	*	Natraceutical S.A.		98
	481,600	*	Nektar Therapeutics		7,113
	75,139	*	Neostem, Inc		153
	193,946	*	Neuralstem, Inc		489
	395,521	*	Neurocrine Biosciences, Inc		2,397
	66,616	*	NeurogesX, Inc		460
	32,095	*	NeuroSearch AS		484
	30,400		Nichi-iko Pharmaceutical Co Ltd		1,055
	94,657	*	NicOx S.A.		328
	425,550		Nippon Chemiphar Co Ltd		1,417
	68,000		Nippon Shinyaku Co Ltd		945
	10,932	*	Novacea, Inc		76
	7,784,241		Novartis AG.		446,388
	998,206		Novartis AG. (ADR)		57,567
	345,500	*	Novavax, Inc		757
	56,392		Novo Nordisk A.S. (ADR)		5,551
	1,004,460		Novo Nordisk AS (Class B)		99,678
	296,371	*	NPS Pharmaceuticals, Inc		2,027
	67,822	*	Nymox Pharmaceutical Corp		242
	83,280	*	Obagi Medical Products, Inc		874
	305,956	*	Omeros Corp		2,230
	189	*	OncoTherapy Science, Inc		419
	103,880		Ono Pharmaceutical Co Ltd		4,523
	297,014	*	Onyx Pharmaceuticals, Inc		7,835
	326,782	*	Opko Health, Inc		732
	145,640	*	Optimer Pharmaceuticals, Inc		1,336
	113,864	*	Orexigen Therapeutics, Inc		675
	60,989		Orion Oyj (Class B)		1,218
	111,279	*	Osiris Therapeutics, Inc		810
	164,585	*	Pain Therapeutics, Inc		1,017
	17,600	*	Paladin Labs, Inc		469
	190,163	*	Par Pharmaceutical Cos, Inc		5,530
	347,873	*	Parexel International Corp		8,046
	64,968	*	Patheon, Inc		146
	554,374		PDL BioPharma, Inc		2,916
	214,119	*	Peregrine Pharmaceuticals, Inc		310
	792,537		PerkinElmer, Inc		18,339
	309,261		Perrigo Co		19,861
	51,074,164		Pfizer, Inc		876,944
	219,873		Pharmaceutical Product Development, Inc		5,451
	363,051	*	Pharmacyclics, Inc		2,926

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	128,932	*	Pharmasset, Inc	$	3,803
	317,591	*	Pharmaxis Ltd		666
	6,757	*,f	Pharmstandard (GDR)		151
	136,472		Piramal Healthcare Ltd		1,517
	125,159	*	Pozen, Inc		886
	134,574	*	Progenics Pharmaceuticals, Inc		680
	197,500	*	Pronova BioPharma AS		361
	144,299	*	Pure Bioscience		333
	117,515	*	Qiagen NV		2,103
	123,863		Q-Med AB		1,332
	393,739	*	Questcor Pharmaceuticals, Inc		3,906
	195,530	*	Ranbaxy Laboratories Ltd		2,420
	259,099		Recordati S.p.A.		2,321
	144,515	*	Regeneron Pharmaceuticals, Inc		3,960
	21,228		Richter Gedeon Nyrt		4,924
	238,001	*	Rigel Pharmaceuticals, Inc		2,002
	335,512		Roche Holding AG.		45,821
	142,000		Rohto Pharmaceutical Co Ltd		1,769
	259,691	*	Salix Pharmaceuticals Ltd		10,315
	209,680	*	Sangamo Biosciences, Inc		719
	2,174,360		Sanofi-Aventis		144,875
	545,425		Sanofi-Aventis S.A. (ADR)		18,135
	432,732	*	Santarus, Inc		1,303
	80,904		Santen Pharmaceutical Co Ltd		2,802
	532,764	*	Savient Pharmaceuticals, Inc		12,184
	21,700		Sawai Pharmaceutical Co Ltd		1,952
	6,070		Schweizerhall Holding AG.		599
	191,535	*	Sciclone Pharmaceuticals, Inc		506
	871,032	*	Seattle Genetics, Inc		13,527
	157,000		Seikagaku Corp		1,700
	292,491	*	Sequenom, Inc		2,050
	252,709		Shionogi & Co Ltd		4,626
	1,992,135		Shire Ltd		44,876
	636,196		Shire plc (ADR)		42,803
	134,751	*	SIGA Technologies, Inc		1,140
	4,254,176	*,a	Skyline Venture Fund II Ltd		655
	976,029	*	Skyline Venture Fund III Ltd		393
	84,320	*	Somaxon Pharmaceuticals, Inc		328
	366,315	*	Spectrum Pharmaceuticals, Inc		1,528
	114,616		Stada Arzneimittel AG.		3,291
	9,376		Stallergenes		821
	715,564	*	StemCells, Inc		594
	52,873	*	Sucampo Pharmaceuticals, Inc (Class A)		198
	116,863		Sun Pharmaceuticals Industries Ltd		5,255
	335,945	*	SuperGen, Inc		702
	98,082	*	Synta Pharmaceuticals Corp		391
	10,800		Taiko Pharmaceutical Co Ltd		153
	132,815		Taisho Pharmaceutical Co Ltd		2,687
	116	*	Takara Bio, Inc		270
	1,342,178		Takeda Pharmaceutical Co Ltd		61,659
	143,127	*	Talecris Biotherapeutics Holdings Corp		3,275
	211,907		Tanabe Seiyaku Co Ltd		3,452

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	159,182	*	Targacept, Inc	$	3,556
	387,095		Tecan Group AG.		26,255
	87,437		Techne Corp		5,397
	490,750		Teva Pharmaceutical Industries Ltd		26,650
	922,438		Teva Pharmaceutical Industries Ltd (ADR)		48,659
	88,001	*	Theratechnologies, Inc		409
	427,715	*	Theravance, Inc		8,597
	2,107,464	*	Thermo Electron Corp		100,905
	31,582	*	ThromboGenics NV		786
	30,400		Torii Pharmaceutical Co Ltd		566
	13,100		Towa Pharmaceutical Co Ltd		738
	22,411	*	Transgene S.A.		503
	350,000	*,m	Trius Therapeutics, Inc		1,386
	71,300		Tsumura & Co		2,217
	11,790		UCB S.A.		408
	976,000		United Laboratories Ltd		1,894
	101,325	*	United Therapeutics Corp		5,675
	329,188	*	Valeant Pharmaceuticals International Inc		8,302
	1,643,071	*,a	Vanda Pharmaceuticals, Inc		10,976
	445,681	*	Vectura Group plc		359
	416,207	*	Vertex Pharmaceuticals, Inc		14,388
	230,796	*	Vical, Inc		515
	11,583		Virbac S.A.		1,601
	431,818	*	Viropharma, Inc		6,438
	323,804	*	Vivus, Inc		2,166
	2,242,641		Warner Chilcott plc		50,325
	464,755	*	Waters Corp		32,895
	3,719,900	*	Watson Pharmaceuticals, Inc		157,389
	7,855	*	WuXi PharmaTech Cayman, Inc (ADR)		135
	110,571	*	Xenoport, Inc		786
	13,716		Yuhan Corp		2,231
	226,731	*	Zeltia S.A.		986
	27,000		ZERIA Pharmaceutical Co Ltd		328
	251,612	*	ZIOPHARM Oncology, Inc		944
	263,520	*	Zymogenetics, Inc		2,569
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		7,004,684
REAL ESTATE - 2.6%
	2,795,257		Abacus Property Group		1,175
	171,830		Acadia Realty Trust		3,265
	59,009	m	Acanthe Developpement S.A.		96
	8,153	*	Advance Residence Investment Corp		13,741
	637,788	*	Aedes S.p.A.		183
	79,400		Aeon Mall Co Ltd		1,930
	16,129		Affine S.A.		382
	373,213	*	Afirma Grupo Inmobiliario S.A.		81
	81,582	*	Africa Israel Investments Ltd		459
	14,138	*	Africa Israel Properties Ltd		186
	2,726,000		Agile Property Holdings Ltd		3,092
	34,903		Agree Realty Corp		881
	31,167	*	Airport City Ltd		146
	54,400		Airport Facilities Co Ltd		211

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,654		Alexander’s, Inc	$	2,733
	181,309		Alexandria Real Estate Equities, Inc		12,692
	58,884		Aliansce Shopping Centers S.A.		452
	31,284,400		Allco Commercial Real Estate Investment Trust		3,687
	6,432,000		Allgreen Properties Ltd		5,771
	27,817		Allied Properties Real Estate Investment Trust		614
	16,485		Allreal Holding AG.		2,231
	142,968		Alony Hetz Properties & Investments Ltd		711
	5,797	*	AL-ROV Israel Ltd		182
	43,819		Alstria Office REIT-AG.		609
	379,800		Amata Corp PCL		201
	362,400		AMB Property Corp		9,593
	406,002		American Campus Communities, Inc		12,359
	155,881		American Capital Agency Corp		4,142
	121,498		Amot Investments Ltd		341
	1,160,720		AMP NZ Office Trust		630
	3,210,692		Annaly Mortgage Management, Inc		56,509
	704,971		Anworth Mortgage Asset Corp		5,026
	803,067		Apartment Investment & Management Co (Class A)		17,170
	56,643		Apollo Commercial Real Estate Finance, Inc		910
	39,151		Artis Real Estate Investment Trust		526
	984,115		Ascendas Real Estate Investment Trust		1,639
	663,403		Ascott Residence Trust		580
	216,176	*	Ashford Hospitality Trust, Inc		1,956
	601,700		Asian Property Development PCL		150
	733,966		Aspen Group		319
	191,175		Associated Estates Realty Corp		2,673
	4,039		Atenor Group		180
	468,529		Atrium European Real Estate Ltd		2,603
	378,356		Australand Property Group		991
	376,833		AvalonBay Communities, Inc		39,164
	36,045	*	Avatar Holdings, Inc		688
	6,957,023		Ayala Land, Inc		2,790
	9,247,920	m	Ayala Land, Inc (Preference)		21
	740,827		Babcock & Brown Japan Property Trust		229
	1,527		Bayside Land Corp		381
	23,803		Befimmo SCA Sicafi		2,012
	2,366,000	*	Belle Corp		122
	1,301,413		Beni Stabili S.P.A.		1,222
	27,000		Beni Stabili S.P.A. (Paris)		25
	156,875		Big Yellow Group plc		804
	568,937		BioMed Realty Trust, Inc		10,195
	66,959		Boardwalk Real Estate Investment Trust		3,059
	768,920		Boston Properties, Inc		63,914
	830,356		BR Malls Participacoes SA		6,939
	14,811		BR Properties S.A.		143
	509,258		Brandywine Realty Trust		6,238
	137,981		BRE Properties, Inc (Class A)		5,726
	1,255,776	*	Brioschi Sviluppo Immobiliare		269
	100,947		British Israel Investments Ltd		333
	2,993,858		British Land Co plc		21,869
	648,323		Brookfield Asset Management, Inc		18,311

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,218	*	Brookfield Multiplex Group	$	457
	40,000		Brookfield Properties Corp		621
	865,857		Brookfield Properties Corp (Toronto)		13,523
	486,803		Bunnings Warehouse Property Trust		868
	2,083,000		C C Land Holdings Ltd		859
	151,673	*	CA Immobilien Anlagen AG.		2,161
	82,275		Calloway Real Estate Investment Trust		1,932
	1,146,000		Cambridge Industrial Trust		475
	500,608		Camden Property Trust		24,014
	48,691		Canadian Apartment Properties REIT		804
	79,356		Canadian Real Estate Investment Trust		2,410
	3,436,400		CapitaCommercial Trust		3,867
	711,934	*	Capital & Counties PRO		1,467
	383,316	*	Capital & Regional plc		208
	395,083		Capital Lease Funding, Inc		2,209
	1,719,811		CapitaLand Ltd		5,309
	5,096,754		CapitaMall Trust		8,332
	1,096,000		CapitaMalls Asia Ltd		1,800
	530,000		CapitaRetail China Trust		504
	312,418		Capstead Mortgage Corp		3,396
	310,994		Castellum AB		4,136
	132,000		Cathay Real Estate Development Co Ltd		67
	1,165,864	*	CB Richard Ellis Group, Inc (Class A)		21,312
	738,092		CBL & Associates Properties, Inc		9,639
	1,146,000		CDL Hospitality Trusts		1,856
	369,688		Cedar Shopping Centers, Inc		2,248
	98,000		Central Pattana PCL		98
	2,575	*	Centro Properties Group		0	^
	1,581,031	*	Centro Retail Group		252
	1,537,388		CFS Gandel Retail Trust		2,816
	778,990		Challenger Diversified Property Group		384
	5,610,682		Champion Real Estate Investment Trust		2,893
	1,537,386		Charter Hall Group		869
	40,507	*	Chatham Lodging Trust		754
	34,102		Chesapeake Lodging Trust		558
	5,528,428		Cheuk Nang Holdings Ltd		1,995
	1,465,448		Cheung Kong Holdings Ltd		22,212
	7,764,531		Chimera Investment Corp		30,670
	25,000		China Aoyuan Property Group Ltd		4
	7,029,080		China Overseas Land & Investment Ltd		14,876
	3,300,000		China Resources Land Ltd		6,712
	1,994,520		China Vanke Co Ltd		2,522
	291,000		Chinese Estates Holdings Ltd		485
	290,464		City Developments Ltd		2,818
	193,338		Citycon Oyj		825
	40,909	*	CLS Holdings plc		337
	20,111		Cofinimmo		2,670
	298,506		Cogdell Spencer, Inc		1,887
	31,114	*	Colonia Real Estate AG.		178
	399,030		Colonial Properties Trust		6,460
	61,542		Colony Financial, Inc		1,137
	42,398		Cominar Real Estate Investment Trust		893

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,183,260		Commonwealth Property Office Fund	$	3,720
	24,391		Consolidated-Tomoka Land Co		695
	171,238		Conwert Immobilien Invest AG.		2,466
	109,456		Corio NV		7,483
	201,175		Corporate Office Properties Trust		7,506
	6,800,000		Country Garden Holdings Co Ltd		2,217
	558,545		Cousins Properties, Inc		3,988
	64,122		CreXus Investment Corp		771
	1,013,190		Cromwell Group		695
	106,621		Cypress Sharpridge Investments, Inc		1,423
	2,498	*	DA Office Investment Corp		6,508
	75,100		Daibiru Corp		556
	415,000	*	Daikyo, Inc		562
	1,245,900		Daiman Development BHD		690
	315,782		Daito Trust Construction Co Ltd		18,876
	562,118		Daiwa House Industry Co Ltd		5,656
	3,264,197		DB RREEF Trust		2,698
	1,142,482		DCT Industrial Trust, Inc		5,472
	192,788	*	Delek Real Estate Ltd		85
	147,189		Derwent London plc		3,478
	62,848		Deutsche Euroshop AG.		2,227
	115,138	*	Deutsche Wohnen AG.		1,370
	1,251,936		Developers Diversified Realty Corp		14,047
	172,389		Development Securities plc		624
	785,612		DiamondRock Hospitality Co		7,455
	62,480		DIC Asset AG.		623
	308,947		Digital Realty Trust, Inc		19,062
	866,194		DLF Ltd		7,290
	274,350		Douglas Emmett, Inc		4,804
	130,455		Douja Promotion Groupe Addoha S.A.		1,624
	131,586	*	DTZ Holdings plc		99
	1,122,458		Duke Realty Corp		13,009
	42,394		Dundee Real Estate Investment Trust		1,157
	178,045		DuPont Fabros Technology, Inc		4,478
	71,785		Dynex Capital, Inc		774
	132,533		EastGroup Properties, Inc		4,954
	227,242		Education Realty Trust, Inc		1,625
	19,877	*	Elbit Imaging Ltd		273
	14,911	*	Electra Real Estate Ltd		102
	2,956,000		Emperor International Holdings		636
	291,120		Entertainment Properties Trust		12,571
	129,697		Equity Lifestyle Properties, Inc		7,066
	163,347		Equity One, Inc		2,757
	1,072,525		Equity Residential		51,021
	173,237		Essex Property Trust, Inc		18,959
	38,341		Eurobank Properties Real Estate Investment Co		314
	58,127		Eurocommercial Properties NV		2,694
	65,201		Excel Trust, Inc		735
	452,699		Extra Space Storage, Inc		7,261
	226,577		Fabege AB		2,277
	1,625,833		Far East Consortium		482
	1,218,700		Farglory Land Development Co Ltd		2,965

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	289,299		Federal Realty Investment Trust	$	23,624
	530,101	*	FelCor Lodging Trust, Inc		2,438
	94,280		First Capital Realty, Inc		1,420
	413,891	*	First Industrial Realty Trust, Inc		2,098
	164,258		First Potomac Realty Trust		2,464
	39,010	*	FirstService Corp		935
	1,197,971		FKP Property Group		984
	23,408		Fonciere Des Regions		2,494
	583,471	*	Forest City Enterprises, Inc (Class A)		7,486
	198,303	*	Forestar Real Estate Group, Inc		3,381
	1,887,000		Fortune Real Estate Investment Trust		944
	303,525		Franklin Street Properties Corp		3,770
	5,655,200		Franshion Properties China Ltd		1,676
	668,000		Frasers Centrepoint Trust		752
	611	*	Frontier Real Estate Investment Corp		5,043
	147	*	Fukuoka REIT Corp		935
	24,075	*,m	Future Mall Management Ltd		0	^
	143,618		GAGFAH S.A.		1,143
	115,253		Gazit Globe Ltd		1,238
	21,982		Gazit, Inc		537
	61,342		Gecina S.A.		7,275
	999,875	b	General Growth Properties, Inc		15,598
	111,805		Getty Realty Corp		3,000
	40,927		Gladstone Commercial Corp		702
	1,512,163		Glimcher Realty Trust		9,300
	177		Global One Real Estate Investment Corp		1,293
	140,479	*	Globe Trade Centre S.A.		1,078
	1,414,000		Glorious Property Holdings Ltd		405
	34,280		Goldcrest Co Ltd		646
	888,669		Goodman Property Trust		619
	103,351		Government Properties Income Trust		2,759
	1,004,833		GPT Group (ASE)		2,855
	557,280		Grainger plc		961
	49,200	*	Gramercy Capital Corp		68
	602,399		Great Eagle Holdings Ltd		1,840
	556,677		Great Portland Estates plc		2,985
	947,500		Greentown China Holdings Ltd		1,031
	2,494,490		Growthpoint Properties Ltd		6,138
	528,000	*	Guangzhou Investment Co Ltd		131
	1,661,136		Guangzhou R&F Properties Co Ltd		2,334
	375,000		Guocoland Ltd		673
	18,000	*	H&R Real Estate Investment Trust		346
	1,043,664		Hammerson plc		6,465
	294,965		Hang Lung Group Ltd		1,926
	1,217,672		Hang Lung Properties Ltd		5,948
	182		Hankyu Reit, Inc		828
	179,474		Hatteras Financial Corp		5,110
	1,259,873		HCP, Inc		45,330
	465,971		Health Care REIT, Inc		22,059
	292,712		Healthcare Realty Trust, Inc		6,847
	201,500		Heiwa Real Estate Co Ltd		480
	124,877		Helical Bar plc		584

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	756,572		Henderson Land Development Co Ltd	$	5,387
	463,526		Hersha Hospitality Trust		2,401
	347,287		Highwoods Properties, Inc		11,276
	1,665,600		HKR International Ltd		751
	737,000		Ho Bee Investment Ltd		930
	177,179		Home Properties, Inc		9,373
	481,000	*	Hong Fok Corp Ltd		203
	290,000		Hongkong Land Holdings Ltd		1,801
	657,801		Hopewell Holdings		2,128
	1,131,295		Hopson Development Holdings Ltd		1,264
	621,898		Hospitality Properties Trust		13,887
	3,424,621		Host Marriott Corp		49,589
	179,482	*	Housing Development & Infrastruture Ltd		1,035
	317,388		HRPT Properties Trust		8,125
	33,400		Hudson Pacific Properties		547
	180,683		Hufvudstaden AB (Series A)		1,947
	93,500		Hulic Co Ltd		635
	920,810		Hysan Development Co Ltd		3,299
	61,581		ICADE		6,469
	303,400		IGB Corp BHD		178
	53,900		Iida Home Max		420
	180,316		Immobiliare Grande Distribuzione		296
	1,076,776	*	IMMOFINANZ Immobilien Anlagen AG.		4,013
	445,672	*	Indiabulls Real Estate Ltd		1,696
	239		Industrial & Infrastructure Fund Investment Corp		958
	4,066,919		ING Industrial Fund		1,926
	4,436,837		ING Office Fund		2,573
	440,425		Inland Real Estate Corp		3,660
	2,088,703	*	Inmobiliaria Colonial S.A.		271
	1,934		Intershop Holdings		581
	10,136		Intervest Offices		318
	104,647		Invesco Mortgage Capital, Inc		2,252
	412,284		Investors Real Estate Trust		3,455
	376,370	*	iStar Financial, Inc		1,152
	119,383	*	IVG Immobilien AG.		866
	85,506	*	IVR Prime Urban Developers Ltd		243
	361		Japan Excellent, Inc		1,805
	256		Japan Logistics Fund Inc		2,104
	2,147		Japan Prime Realty Investment Corp		4,727
	727		Japan Real Estate Investment Corp		6,610
	4,386	*	Japan Retail Fund Investment Corp		6,173
	22,373	*	Jerusalem Economy Ltd		201
	1,200		Joint Reit Investment Corp		4,230
	272,169		Jones Lang LaSalle, Inc		23,480
	1,644,019		K Wah International Holdings Ltd		651
	1,305	*	Kenedix Realty Investment Corp		4,940
	13,554	*	Kenedix, Inc		2,403
	91,078	*	Kennedy-Wilson Holdings, Inc		965
	349,000		Keppel Land Ltd		1,075
	842,916		Kerry Properties Ltd		4,585
	271,979		Kilroy Realty Corp		9,013
	2,114,917		Kimco Realty Corp		33,310

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	222,537		Kite Realty Group Trust	$	988
	1,155,226		Kiwi Income Property Trust		856
	5,298,578		KLCC Property Holdings BHD		5,681
	73,594		Klepierre		2,838
	330,732		Klovern AB		1,590
	2,832,130		Kowloon Development Co Ltd		3,165
	813,000		K-REIT Asia		797
	59,700		KrisAssets Holdings Berhad		64
	341,785		Kungsleden AB		2,903
	5,912,000		KWG Property Holding Ltd		4,534
	90,029,000		Lai Fung Holdings Ltd		3,365
	7,827,000	*	Lai Sun Development		194
	28,883	*	Lamda Development S.A.		150
	631,300		Land and Houses PCL		154
	736,835		Land Securities Group plc		7,414
	383,594		LaSalle Hotel Properties		8,972
	3,288		Leasinvest Real Estate SCA		286
	482,587		Lend Lease Corp Ltd		3,550
	481,511		Leopalace21 Corp		802
	612,412		Lexington Corporate Properties Trust		4,385
	408,630		Liberty International plc		2,360
	263,857		Liberty Property Trust		8,417
	7,140,881		Link Real Estate Investment Trust		21,168
	1,095,000		Lippo-Mapletree Indonesia Retail Trust		416
	328,000		Liu Chong Hing Investment		385
	1,971,000		Longfor Properties Co Ltd		2,233
	150,373		LTC Properties, Inc		3,838
	657,167		Macerich Co		28,225
	332,064		Mack-Cali Realty Corp		10,862
	489,202		Macquarie CountryWide Trust		1,357
	5,020,194		Macquarie Goodman Group		3,130
	438,992		Macquarie Leisure Trust Group		452
	2,115,000		Macquarie MEAG Prime REIT		933
	890,136		Macquarie Office Trust		2,099
	259,385	*	Maguire Properties, Inc		648
	35,779	*,m	Mapeley Ltd		112
	3,433,893		Mapletree Logistics Trust		2,272
	496,401		Medical Properties Trust, Inc		5,034
	1,286,000	f	Megaworld Corp		65
	12,148		Melisron Ltd		322
	40,218		Mercialys S.A		1,568
	1,297,044		MFA Mortgage Investments, Inc		9,896
	228		MID Reit, Inc		510
	200,097		Mid-America Apartment Communities, Inc		11,662
	2,598,929		Midland Holdings Ltd		2,405
	171,565	*	Minerva plc		253
	1,917,661		Mirvac Group		2,465
	302,247		Mission West Properties, Inc		2,049
	1,952,335		Mitsubishi Estate Co Ltd		31,759
	1,461,419		Mitsui Fudosan Co Ltd		24,649
	10,590		Mobimo Holding AG.		1,972
	121,054		Monmouth Real Estate Investment Corp (Class A)		947

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,121		Morguard Real Estate Investment Trust	$	550
	634		Mori Hills REIT Investment Corp		1,599
	421		Mori Trust Sogo Reit, Inc		3,555
	88,196		Multiplan Empreendimentos Imobiliarios S.A.		1,871
	104,975		National Health Investors, Inc		4,625
	408,633		National Retail Properties, Inc		10,261
	719,715		Nationwide Health Properties, Inc		27,831
	4,856,666		New World China Land Ltd		1,803
	11,285,155		New World Development Ltd		22,748
	289,717	*	Newcastle Investment Corp		898
	51,840		Nieuwe Steen Investments NV		1,037
	218		Nippon Accommodations Fund, Inc		1,252
	243		Nippon Building Fund, Inc		2,128
	3,503		Nippon Commercial Investment Corp		3,856
	48,098	*	Nitsba Holdings 1995 Ltd		477
	75,747		Nomura Real Estate Holdings, Inc		1,075
	265		Nomura Real Estate Office Fund, Inc		1,471
	204	*	Nomura Real Estate Residential Fund, Inc		899
	19,469		Northern Property Real Estate Investment Trust		485
	318,189		NorthStar Realty Finance Corp		1,190
	632,248	*	Norwegian Property ASA		1,091
	181,235		NRDC Acquisition Corp		1,734
	2,359		NTT Urban Development Corp		1,984
	483,434		Omega Healthcare Investors, Inc		10,853
	68,054		One Liberty Properties, Inc		1,083
	506	*	Orix JREIT, Inc		2,467
	1,228,000		Pacific Century Premium Developments Ltd		222
	564,000		Parkway Life Real Estate Investment Trust		686
	143,593		Parkway Properties, Inc		2,125
	37,994	*	Patrizia Immobilien AG.		168
	154,606	*	Pebblebrook Hotel Trust		2,784
	326,347		Pennsylvania Real Estate Investment Trust		3,870
	71,774		Pennymac Mortgage Investment Trust		1,284
	100,484		Piedmont Office Realty Trust, Inc		1,900
	1,284,847	*	Pirelli & C Real Estate S.p.A.		778
	578,457		Plum Creek Timber Co, Inc		20,420
	3,018,000		Poly Hong Kong Investment Ltd		3,236
	244,963		Post Properties, Inc		6,839
	173,027		Potlatch Corp		5,883
	332		Premier Investment Co		1,523
	154,700		Preuksa Real Estate PCL		124
	50,116		Primaris Retail Real Estate Investment Trust		951
	232,343		Primary Health Properties plc		1,097
	1,884,783		Prologis		22,203
	1,679		Property & Building Corp		141
	2,518,000		Prosperity REIT		545
	104,037		PS Business Parks, Inc		5,885
	58,178		PSP Swiss Property AG.		4,301
	618,226		Public Storage, Inc		59,994
	747,815	f	Puravankara Projects Ltd		2,142
	758,306	*	Quintain Estates & Development plc		515
	338,916	*	RAIT Investment Trust		559

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	249,733		Ramco-Gershenson Properties	$	2,675
	833,821		Raven Russia Ltd		661
	717,102		Rayonier, Inc		35,941
	235,853		Realty Income Corp		7,953
	3,665,814		Redefine Income Fund Ltd		4,260
	351,974		Redwood Trust, Inc		5,090
	38,805,000		Regal Real Estate Investment Trust		10,053
	371,537		Regency Centers Corp		14,665
	28,398,500		Renhe Commercial Holdings Co Ltd		5,307
	163,283		Resource Capital Corp		1,037
	199,132		RioCan Real Estate Investment Trust		4,436
	386,900		Robinsons Land Corp		142
	591,000		Ruentex Development Co Ltd		989
	38,790		Sankei Building Co Ltd		211
	55,250		Saul Centers, Inc		2,318
	410,330		Savills plc		1,960
	310,000		SC Global Developments Ltd		375
	986,388		Segro plc		4,230
	633,244		Senior Housing Properties Trust		14,881
	478,242		Shaftesbury plc		3,252
	160,000		Shanghai Forte Land Co		48
	1,369,800		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		2,170
	15,180,000		Shanghai Real Estate Ltd		1,565
	264,000		Shenzhen Investment Ltd		95
	2,736,500		Shimao Property Holdings Ltd		4,550
	42,200		Shoei Co Ltd		308
	10,134,400		Shui On Land Ltd		4,963
	1,473,105		Simon Property Group, Inc		136,617
	224,000		Singapore Land Ltd		1,201
	4,817,670		Sino Land Co		9,972
	13,457,500		Sino-Ocean Land Holdings Ltd		9,349
	102,527	*	Sinpas Gayrimenkul Yatirim Ortakligi AS.		140
	586,769		SL Green Realty Corp		37,160
	5,502,152		SM Prime Holdings		1,582
	140,139		Sobha Developers Ltd		1,190
	6,768		Societe de la Tour Eiffel		537
	18,535		Societe Immobiliere de Location pour l’Industrie et le Commerce		2,393
	5,655,000		Soho China Ltd		4,016
	351,178	*	Songbird Estates plc		833
	122,230		Sovran Self Storage, Inc		4,633
	853,750		SP Setia BHD		1,242
	67,678	*	Sparkassen Immobilien AG.		511
	2,622,929		SPG Land Holdings Ltd		1,244
	262,998		Sponda Oyj		1,276
	211,726		ST Modwen Properties plc		564
	244,603	*	St. Joe Co		6,083
	503,559		Starwood Property Trust, Inc		10,006
	2,520,588		Stockland Trust Group		9,355
	821,788	*	Strategic Hotels & Resorts, Inc		3,484
	23,870		Sumitomo Real Estate Sales Co Ltd		1,081

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	458,954		Sumitomo Realty & Development Co Ltd	$	9,484
	1,076,000		Summarecon Agung Tbk PT		133
	82,977		Sun Communities, Inc		2,547
	1,161,246		Sun Hung Kai Properties Ltd		20,055
	190,727	*	Sunland Group Ltd		137
	2,159,000		Sunlight Real Estate Investment Trust		570
	490,512	*	Sunstone Hotel Investors, Inc		4,449
	2,556,000		Suntec Real Estate Investment Trust		2,935
	1,661,502		Swire Pacific Ltd (Class A)		22,892
	79,936		Swiss Prime Site AG.		5,674
	42,725	*	TAG Tegernsee Immobilien und Beteiligungs AG.		310
	856,000		TAI Cheung Holdings		584
	1,480,032	*	Talaat Moustafa Group		1,825
	239,033		Tanger Factory Outlet Centers, Inc		11,268
	272,672		Taubman Centers, Inc		12,164
	212,375		Technopolis plc		1,184
	57,308	*	Tejon Ranch Co		1,242
	55,851	*	Terreno Realty Corp		1,018
	895,334		Thomas Properties Group, Inc		3,196
	284	*,b	Thornburg Mortgage, Inc		0	^
	53,341	*	TK Development		217
	106,800		TOC Co Ltd		467
	28,400		Toho Real Estate Co Ltd		174
	2,135,988		Tokyo Tatemono Co Ltd		8,188
	1,852,900		Tokyu Land Corp		7,680
	28,000		Tokyu Livable, Inc		300
	334		Tokyu REIT, Inc		1,756
	835		Top REIT Inc		4,681
	107,064		Two Harbors Investment Corp		966
	451,107		UDR, Inc		9,527
	42,329		UMH Properties, Inc		455
	85,967		Unibail		19,062
	232,652	*	Unite Group plc		804
	8,994,801	*	Unitech Corporate Parks plc		4,734
	1,803,603		Unitech Ltd		3,544
	705,097		United Overseas Land Ltd		2,482
	383		United Urban Investment Corp		2,638
	52,148		Universal Health Realty Income Trust		1,794
	111,549		Urstadt Biddle Properties, Inc (Class A)		2,017
	535,808		U-Store-It Trust		4,474
	24,524		Vastned Offices/Industrial		405
	26,625		Vastned Retail NV		1,812
	824,140		Ventas, Inc		42,501
	688,642		Vornado Realty Trust		58,901
	42,692		Wallenstam Byggnads AB (B Shares)		1,089
	111,944		Walter Investment Management Corp		1,958
	14,128		Warehouses De Pauw SCA		725
	278,171		Washington Real Estate Investment Trust		8,826
	256,911		Weingarten Realty Investors		5,606
	5,658		Wereldhave Belgium NV		494
	34,434		Wereldhave NV		3,342
	7,762,256		Westfield Group		91,983

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,057,529		Weyerhaeuser Co	$	32,427
	3,741,009		Wharf Holdings Ltd		24,060
	1,574,835		Wheelock & Co Ltd		5,267
	436,000		Wheelock Properties S Ltd		627
	91,327		Wihlborgs Fastigheter AB		2,513
	937,267		Wing Tai Holdings Ltd		1,233
	78,545		Winthrop Realty Trust		971
	2,266,497		Workspace Group plc		765
	965,000		Yanlord Land Group Ltd		1,284
	1,423,632	*	YNH Property BHD		798
	3,826,800		Zhong An Real Estate Ltd		957
	56,590	*	Zueblin Immobilien Holding AG.		206
			TOTAL REAL ESTATE		2,663,404
RETAILING - 3.0%
	141,515	*	1-800-FLOWERS.COM, Inc (Class A)		267
	182,846	*	99 Cents Only Stores		3,452
	227,399		Aaron Rents, Inc		4,196
	19,590		ABC-Mart, Inc		603
	487,128		Abercrombie & Fitch Co (Class A)		19,154
	558,090		Advance Auto Parts		32,749
	376,302	*	Aeropostale, Inc		8,749
	23,600		Alpen Co Ltd		367
	1,550,625	*	Amazon.com, Inc		243,542
	627,479		American Eagle Outfitters, Inc		9,387
	46,676	*	America’s Car-Mart, Inc		1,175
	1,265,843	*	AnnTaylor Stores Corp		25,621
	49,800		AOKI Holdings, Inc		756
	93,500		Aoyama Trading Co Ltd		1,510
	47,000		Arc Land Sakamoto Co Ltd		552
	17,200		Asahi Co Ltd		259
	120,084	*	Asbury Automotive Group, Inc		1,690
	26,400		ASKUL Corp		534
	92,024	*	ASOS plc		1,641
	125,840	*	Audiovox Corp (Class A)		861
	60,370		Autobacs Seven Co Ltd		2,303
	218,188	*	Autonation, Inc		5,073
	130,404	*	Autozone, Inc		29,851
	62,917		B2W Companhia Global Do Varejo		1,164
	173,265		Barnes & Noble, Inc		2,809
	252,001		Bebe Stores, Inc		1,817
	1,078,286	*	Bed Bath & Beyond, Inc		46,807
	6,866,400		Belle International Holdings Ltd		13,788
	62,100		Belluna Co Ltd		307
	1,500,302		Best Buy Co, Inc		61,256
	119,000		Best Denki Co Ltd		298
	38,405		Beter BED Holding NV		972
	710		BIC CAMERA, Inc		268
	161,975		Big 5 Sporting Goods Corp		2,174
	755,415	*	Big Lots, Inc		25,118
	93,088		Bilia AB (A Shares)		1,567
	55,964	*	Blue Nile, Inc		2,490

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,244,000		Bonjour Holdings Ltd	$	437
	37,228	*	Bon-Ton Stores, Inc/the		379
	24,267		Books-A-Million, Inc		146
	192,960	*	Borders Group, Inc		230
	247,525		Brown Shoe Co, Inc		2,839
	116,793		Buckle, Inc		3,100
	71,350	*	Build-A-Bear Workshop, Inc		432
	221,967	*	Cabela’s, Inc		4,213
	150,777		Canadian Tire Corp Ltd		8,397
	47,124	*	Canon Marketing Japan, Inc		649
	467,731	*	Carmax, Inc		13,031
	51,298		Carpetright plc		630
	209,197	*	Casual Male Retail Group, Inc		854
	133,831		Cato Corp (Class A)		3,581
	52,394		CFAO S.A.		2,086
	11,570		Charles Voegele Holding AG.		525
	573,884	*	Charming Shoppes, Inc		2,020
	1,373,276		Chico’s FAS, Inc		14,447
	122,880	*	Children’s Place Retail Stores, Inc		5,993
	33,400		Chiyoda Co Ltd		360
	394,000		Chow Sang Sang Holding		914
	159,877		Christopher & Banks Corp		1,265
	62,040	*	Citi Trends, Inc		1,502
	1,222	*	CJ O Shopping Co Ltd		260
	52,337		Clas Ohlson AB (B Shares)		967
	241,105	*	Coldwater Creek, Inc		1,271
	642,963	*	Collective Brands, Inc		10,377
	52,948	*	Conn’s, Inc		246
	73,091	*	Core-Mark Holding Co, Inc		2,263
	140,800		Culture Convenience Club Co Ltd		604
	1,991,000		Dah Chong Hong Holdings Ltd		2,458
	128,950	*	Daiei, Inc		527
	888,866		David Jones Ltd		4,278
	116,200		DCM Japan Holdings Co Ltd		553
	2,167,800	*	Debenhams plc		2,224
	62,456		Delek Automotive Systems Ltd		799
	4,018		Delek Israeli Fuel Corp Ltd		130
	9,513		Delticom AG.		643
	231,400		Dena Co Ltd		7,287
	23,541	*	Destination Maternity Corp		775
	1,258,957	*	Dick’s Sporting Goods, Inc		35,300
	979,000		Dickson Concepts International Ltd		702
	3,087		D’ieteren S.A.		1,728
	362,009		Dillard’s, Inc (Class A)		8,558
	1,082,029	*	Dollar General Corp		31,649
	641,578	*	Dollar Tree, Inc		31,283
	78,404	*	Dollarama, Inc		2,061
	81,600		Don Quijote Co Ltd		2,026
	22,100		Doshisha Co Ltd		547
	59,815		Douglas Holding AG.		3,003
	248,824	*	Dress Barn, Inc		5,910
	420,340	*	Drugstore.Com		807

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,123,661	*	DSG International plc	$	2,069
	61,704	*	DSW, Inc (Class A)		1,771
	24,887	*	Dufry Group		2,378
	180,576		Dunelm Group plc		1,111
	115,783		EDION Corp		850
	3,730,000		Emperor Watch & Jewellery Ltd		428
	18,401		Empresas La Polar S.A.		138
	1,094,664		Esprit Holdings Ltd		5,940
	8,859	*	Etam Developpement S.A.		376
	652,884		Expedia, Inc		18,418
	79,206	*	Express Parent LLC		1,205
	26,800		F&A Aqua Holdings, Inc		258
	582,562		Family Dollar Stores, Inc		25,726
	1,171,612		Far Eastern Department Stores Co Ltd		1,474
	138,385		Fast Retailing Co Ltd		19,495
	17,861		Fielmann AG.		1,666
	677,786		Findel plc		114
	348,365		Finish Line, Inc (Class A)		4,846
	784,416		Foot Locker, Inc		11,398
	49,509		Forzani Group Ltd/The		784
	288,135		Foschini Ltd		3,431
	75,857		Fourlis Holdings S.A.		612
	182,398		Fred’s, Inc (Class A)		2,152
	24,400		Fuji Co Ltd		499
	80,425		Gaiam, Inc (Class A)		538
	12,055,275		Game Group PLC		12,499
	482,987	*	GameStop Corp (Class A)		9,520
	1,686,351		Gap, Inc		31,434
	137,950	*	Genesco, Inc		4,122
	500,138		Genuine Parts Co		22,300
	845		Geo Corp		939
	2,766,000		Giordano International Ltd		1,633
	1,175,000		Golden Eagle Retail Group Ltd		3,332
	16,355,808	*	GOME Electrical Appliances Holdings Ltd		4,933
	12,000	*	Gordmans Stores, Inc		139
	110,505	*	Group 1 Automotive, Inc		3,302
	101,905		Grupo Elektra S.A. de CV		3,572
	48,154	*	Gruppo Coin S.p.A.		476
	336,981		Guess ?, Inc		13,692
	5,870		Gulliver International Co Ltd		294
	124,828	*	Gymboree Corp		5,185
	472,733		Halfords Group plc		3,288
	146,716		Hankyu Department Stores, Inc		919
	1,213,382		Harvey Norman Holdings Ltd		4,421
	82,806		Haverty Furniture Cos, Inc		903
	19,196		Hellenic Duty Free Shops S.A.		97
	5,000,000		Hengdeli Holdings Ltd		2,313
	924,051		Hennes & Mauritz AB (B Shares)		33,464
	56,693	*	hhgregg, Inc		1,404
	124,852	*	Hibbett Sports, Inc		3,115
	33,094		Hikari Tsushin, Inc		622
	852,753		HMV Group plc		643

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,920,192		Home Depot, Inc	$	187,551
	258,376		Home Retail Group		836
	33,070		Honeys Co Ltd		420
	145,776		Hot Topic, Inc		873
	169,362	*	HSN, Inc		5,064
	36,252		Hyundai Department Store Co Ltd		4,387
	465,568		Imperial Holdings Ltd		7,578
	625,314	*	Inchcape plc		3,063
	631,429		Inditex S.A.		50,158
	496,000		Intime Department Store Group Co Ltd		684
	611,565		Isetan Mitsukoshi Holdings Ltd		6,352
	77,200		Izumi Co Ltd		969
	1,284,141	*	J Crew Group, Inc		43,172
	673,320		J Front Retailing Co Ltd		3,129
	344,590		Jardine Cycle & Carriage Ltd		10,298
	195,735		JB Hi-Fi Ltd		3,909
	1,352,477		JC Penney Co, Inc		36,760
	901,256	*	JJB Sports plc		117
	120,466	*	Jo-Ann Stores, Inc		5,367
	76,205		John Menzies PLC		512
	121,135	*	JOS A Bank Clothiers, Inc		5,162
	92,000		Joshin Denki Co Ltd		889
	159,803		JUMBO S.A.		1,076
	89,867		KappAhl Holding AB		783
	73,187		Keiyo Co Ltd		379
	733,322		Kesa Electricals plc		1,686
	5,495,421		Kingfisher plc		20,218
	145,749	*	Kirkland’s, Inc		2,020
	2,335,842	*	Kohl’s Corp		123,052
	32,000		Kohnan Shoji Co Ltd		353
	40,400		Kojima Co Ltd		207
	48,600		Komeri Co Ltd		1,086
	82,403		K’s Holdings Corp		1,895
	2,000,250	*	L’ Occitane International SA		5,569
	6,794,362		Li & Fung Ltd		38,223
	1,978,380	*	Liberty Media Holding Corp (Interactive A)		27,124
	634,500		Lifestyle International Holdings Ltd		1,567
	2,168,147		Limited Brands, Inc		58,062
	85,330		Lithia Motors, Inc (Class A)		818
	872,871	*	LKQ Corp		18,156
	419,687		Lojas Americanas S.A.		3,840
	213,749		Lojas Renner S.A.		7,326
	307,491	*	Lookers plc		290
	14,442		Lotte Shopping Co Ltd		6,016
	8,848,944		Lowe’s Cos, Inc		197,242
	358,000		Luk Fook Holdings International Ltd		794
	98,641	*	Lumber Liquidators, Inc		2,424
	27,586		Macintosh Retail Group NV		543
	4,420,265		Macy’s, Inc		102,064
	124,250	*	MarineMax, Inc		875
	160,190		Marks & Spencer Group plc		977
	546,801		Marui Co Ltd		4,094

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	37,800	*	Matsuya Co Ltd	$	229
	27,490		Medion AG.		386
	26,500		Megane TOP Co Ltd		251
	39,328		Mekonomen AB		1,158
	252,066		Men’s Wearhouse, Inc		5,997
	506,000		Metro Holdings Ltd		302
	2,011,756	*	MFI Furniture plc		2,414
	68,925	*	Midas, Inc		525
	44,325		Mobilezone Holding AG.		462
	85,976		Monro Muffler, Inc		3,964
	104,217		Mothercare plc		855
	1,322,140		Myer Holdings Ltd		4,805
	325,106		N Brown Group plc		1,186
	14,200		Nafco Co Ltd		245
	84,031	*	NetFlix, Inc		13,626
	339,487	*	New Carphone Warehouse plc		1,455
	130,421	*	New York & Co, Inc		335
	811,299		Next plc		28,242
	94,000		Nice Holdings, Inc		203
	107,500		Nishimatsuya Chain Co Ltd		990
	40,500		Nissen Holdings Co Ltd		167
	46,679		Nitori Co Ltd		3,903
	2,959,374		Nordstrom, Inc		110,089
	127,089		Nutri/System, Inc		2,445
	1,534,000	*	Oceanus Group Ltd		373
	544,568	*	Office Depot, Inc		2,505
	492,220	*	OfficeMax, Inc		6,443
	62,972	*	Orbitz Worldwide, Inc		397
	282,047	*	O’Reilly Automotive, Inc		15,005
	850,000		OSIM International Ltd		646
	17,400		Otsuka Kagu Ltd		180
	67,694	*	Overstock.com, Inc		1,064
	1,357,662	*	Pacific Brands Ltd		1,470
	339,145	*	Pacific Sunwear Of California, Inc		1,774
	9,300	*	Pal Co Ltd		330
	481,502		Pantaloon Retail India Ltd		5,187
	64,382		Parco Co Ltd		520
	36,800		Paris Miki, Inc		337
	807,625		Parkson Holdings BHD		1,523
	1,908,000		Parkson Retail Group Ltd		3,320
	20,512,000	*	PCD Stores Ltd		6,477
	860,666	*	Pendragon plc		318
	198,326	*	Penske Auto Group, Inc		2,618
	283,896		PEP Boys - Manny Moe & Jack		3,004
	104,471		PetMed Express, Inc		1,828
	503,210		Petsmart, Inc		17,612
	508,126	*	Pier 1 Imports, Inc		4,162
	21,970		Point, Inc		997
	4,437,000	*	Pou Sheng International Holdings Ltd		629
	62,468		PPR		10,113
	124,266		Praktiker Bau- und Heimwerkermaerkte AG.		1,050
	109,213		Premier Investments Ltd		757

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	218,913	*	Priceline.com, Inc	$	76,257
	374,006		RadioShack Corp		7,978
	46,706	*	Rakuten, Inc		34,185
	93,137		Reitmans Canada Ltd		1,681
	32,182		Reject Shop Ltd		551
	331,305		Rent-A-Center, Inc		7,415
	190,933	*	Retail Ventures, Inc		2,054
	16,400	*	Right On Co Ltd		84
	156,745	*	rnb Retail and Brands AB		177
	215,491	*	RONA, Inc		2,786
	811,622		Ross Stores, Inc		44,330
	68,106	*	Rue21, Inc		1,758
	31,300		Ryohin Keikaku Co Ltd		1,050
	846,000		SA SA International Holdings Ltd		675
	568,096		SACI Falabella		5,528
	659,317	*	Saks, Inc		5,670
	413,551	*	Sally Beauty Holdings, Inc		4,632
	62,100		Sanrio Co Ltd		1,187
	93,655	*	Sears Holdings Corp		6,756
	264,596	*	Select Comfort Corp		1,794
	48,600		Senshukai Co Ltd		277
	61,000		Shimachu Co Ltd		1,174
	8,406		Shimamura Co Ltd		780
	17,700		Shimojima Co Ltd		247
	45,178	*	Shoe Carnival, Inc		913
	106,230	*	Shutterfly, Inc		2,761
	434,190	*	Signet Jewelers Ltd		13,781
	222,671	*	Sonic Automotive, Inc (Class A)		2,189
	252,082	*	Sports Direct International plc		558
	208,456		Stage Stores, Inc		2,710
	2,835,334		Staples, Inc		59,314
	206		Start Today Co Ltd		575
	227,855	*	Stein Mart, Inc		2,012
	42,360		Stockmann Oyj Abp (B Share)		1,650
	11,385	*	Suny Electronic, Inc Ltd		116
	133,605		Super Cheap Auto Group Ltd		839
	45,742		Systemax, Inc		562
	1,982,196		Takashimaya Co Ltd		15,291
	36,569		Takihyo Co Ltd		164
	28,691		Takkt AG.		374
	714,643	*	Talbots, Inc		9,362
	4,880,805		Target Corp		260,829
	248		Telepark Corp		358
	10,259,605		Test-Rite International Co		8,161
	379,243		Tiffany & Co		17,821
	1,758,388		TJX Companies, Inc		78,476
	219,475	*	Topps Tiles plc		198
	140,018		Tractor Supply Co		5,553
	740	*	TravelCenters of America LLC		3
	619,208		Truworths International Ltd		6,219
	186,603		Tsutsumi Jewelry Co Ltd		4,643
	148,405	*	Tuesday Morning Corp		708

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	203,378	*	Ulta Salon Cosmetics & Fragrance, Inc	$	5,939
	861,699		United Arrows Ltd		11,602
	923,560	*	Urban Outfitters, Inc		29,037
	54,490	*	US Auto Parts Network, Inc		447
	11,710		USS Co Ltd		874
	7,445		Valora Holding AG.		1,902
	60,106	*	Vitacost.com, Inc		361
	68,198	*	Vitamin Shoppe, Inc		1,872
	215,787		Warehouse Group Ltd		598
	90,251	*	West Marine, Inc		917
	587,568	*	Wet Seal, Inc (Class A)		1,992
	342,363		WH Smith plc		2,437
	801,770		Williams-Sonoma, Inc		25,416
	7,908		Winmark Corp		264
	1,148,785		Woolworths Holdings Ltd		4,457
	153,600		Wotif.com Holdings Ltd		724
	43,200		Xebio Co Ltd		840
	142,228		Yamada Denki Co Ltd		8,825
	135,000		Yokohama Reito Co Ltd		941
	50,638	*	Yoox S.p.A		517
	1,746	*	Zale Corp		4
	87,602	*	Zumiez, Inc		1,854
			TOTAL RETAILING		3,146,499
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.3%
	97,438	*	Actel Corp		1,554
	203,946	*	Advanced Analogic Technologies, Inc		716
	161,547	*	Advanced Energy Industries, Inc		2,110
	1,589,053	*	Advanced Micro Devices, Inc		11,298
	8,317,297		Advanced Semiconductor Engineering, Inc		6,722
	140,296		Advantest Corp		2,791
	902,465		Aixtron AG.		26,820
	47,132	*	Alpha & Omega Semiconductor Lt		535
	1,846,549		Altera Corp		55,692
	463,762	*	Amkor Technology, Inc		3,047
	248,628	*	Anadigics, Inc		1,514
	2,028,823		Analog Devices, Inc		63,664
	9,662,780		Applied Materials, Inc		112,862
	278,538	*	Applied Micro Circuits Corp		2,785
	2,296,203		ARM Holdings plc		14,147
	109,812	*	ASM International NV		2,793
	822,448		ASM Pacific Technology		7,335
	914,471		ASML Holding NV		27,314
	450,639	*	Atheros Communications, Inc		11,874
	1,734,288	*	Atmel Corp		13,805
	198,545	*	ATMI, Inc		2,950
	14,493		Austriamicrosystems AG.		519
	627,519	*	Avago Technologies Ltd		14,125
	448,180	*	Axcelis Technologies, Inc		865
	9,200		Axell Corp		184
	130,387	*	AXT, Inc		863
	3,171,695		Broadcom Corp (Class A)		112,247

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	290,497	*	Brooks Automation, Inc	$	1,949
	121,610	*	Cabot Microelectronics Corp		3,913
	191,629	*	Cavium Networks, Inc		5,511
	13,192	*	Centrotherm Photovoltaics AG.		555
	93,646	*	Ceva, Inc		1,339
	11,538	*,m	China Energy Savings Technology, Inc		1
	382,086	*	Cirrus Logic, Inc		6,816
	115,027		Cohu, Inc		1,448
	329,351	*	Conexant Systems, Inc		540
	539,529	*	Cree, Inc		29,291
	254,529	*	CSR plc		1,435
	138,205	*	Cymer, Inc		5,125
	422,473	*	Cypress Semiconductor Corp		5,315
	406,000	*	Dainippon Screen Manufacturing Co Ltd		2,091
	85,260	*	Dialog Semiconductor plc		1,391
	143,933	*	Diodes, Inc		2,460
	45,072		Disco Corp		2,592
	168,328	*	DSP Group, Inc		1,178
	508,121	*	Elpida Memory, Inc		5,843
	196,658	*	Energy Conversion Devices, Inc		987
	654,018	*	Entegris, Inc		3,054
	261,071	*	Entropic Communications, Inc		2,506
	874,578		Epistar Corp		2,766
	823,373	*	Evergreen Solar, Inc		604
	180,376	*	Exar Corp		1,080
	1,012,908	*	Fairchild Semiconductor International, Inc		9,521
	257,054	*	FEI Co		5,031
	29,000		Ferrotec		320
	234,212	*	First Solar, Inc		34,511
	206,196	*	Formfactor, Inc		1,773
	101,626	*	FSI International, Inc		270
	3,600		Furuya Metal Co Ltd		228
	93,372	*	GSI Technology, Inc		535
	264,725	*	GT Solar International, Inc		2,216
	960,000		Hannstar Board International Holdings Ltd		167
	150,154	*	Hittite Microwave Corp		7,155
	653,610	*	Hynix Semiconductor, Inc		12,697
	44,673	*	Ikanos Communications, Inc		53
	2,461,286	*	Infineon Technologies AG.		17,049
	2,348,377	*	Inotera Memories, Inc		1,315
	891,720	*	Integrated Device Technology, Inc		5,217
	121,611	*	Integrated Silicon Solution, Inc		1,047
	26,397,163		Intel Corp		507,618
	147,476	*	International Rectifier Corp		3,110
	258,132		Intersil Corp (Class A)		3,018
	123,344	*	IXYS Corp		1,178
	13,969		Kerself S.p.A.		66
	1,056,669		Kinsus Interconnect Technology Corp		2,706
	875,568		Kla-Tencor Corp		30,846
	71,130		Kontron AG.		617
	400,745	*	Kopin Corp		1,423

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	285,956	*	Kulicke & Soffa Industries, Inc	$	1,770
	830,355	*	Lam Research Corp		34,750
	819,693	*	Lattice Semiconductor Corp		3,894
	1,143,839		Linear Technology Corp		35,150
	1,340,902	*	LSI Logic Corp		6,115
	683,045	*	LTX-Credence Corp		1,428
	7,842,959		Macronix International		4,883
	3,055	*	Manz Automation AG.		206
	5,565,450	*	Marvell Technology Group Ltd		97,452
	254,093	*	Mattson Technology, Inc		699
	859,567		Maxim Integrated Products, Inc		15,911
	21,654	*	MaxLinear, Inc		243
	1,262,213		MediaTek, Inc		17,736
	31,517	*	Melexis NV		478
	53,928	*	Mellanox Technologies Ltd		1,090
	469,395	*	MEMC Electronic Materials, Inc		5,595
	261,034		Micrel, Inc		2,574
	382,899		Microchip Technology, Inc		12,042
	6,035,153	*	Micron Technology, Inc		43,513
	43,259	*	Micronas Semiconductor Holdings, Inc		304
	19,100		Micronics Japan Co Ltd		158
	459,433	*	Microsemi Corp		7,879
	294,573	*	Microtune, Inc		854
	30,400		Mimasu Semiconductor Industry Co Ltd		305
	140,285	*	Mindspeed Technologies, Inc		1,090
	275,449	*	MIPS Technologies, Inc		2,680
	31,800	*	Mitsui High-Tec, Inc		179
	238,528	*	MKS Instruments, Inc		4,289
	145,834	*	Monolithic Power Systems, Inc		2,381
	114,207	*	MoSys, Inc		557
	348,884		Motech Industries, Inc		1,301
	87,758	*	Nanometrics, Inc		1,321
	1,398,402	*	Nanya Technology Corp		947
	496,202		National Semiconductor Corp		6,336
	275,621	*	Netlogic Microsystems, Inc		7,602
	623,826		Novatek Microelectronics Corp Ltd		1,767
	200,541	*	Novellus Systems, Inc		5,330
	15,300		NPC, Inc		312
	25,856	*	NVE Corp		1,113
	5,796,865	*	Nvidia Corp		67,707
	1,228,152	*	NXP Semiconductors		15,217
	308,540	*	Omnivision Technologies, Inc		7,109
	926,509	*	ON Semiconductor Corp		6,680
	95,872	*	PDF Solutions, Inc		355
	119,923	*	Pericom Semiconductor Corp		1,042
	154,146		Phison Electronics Corp		750
	265,537	*	Photronics, Inc		1,405
	122,278		Pixart Imaging, Inc		599
	153,919	*	PLX Technology, Inc		557
	748,490	*	PMC - Sierra, Inc		5,509
	95,718		Power Integrations, Inc		3,043
	6,255,201	*	Powerchip Semiconductor Corp		1,732
	2,111,086		Powertech Technology, Inc		6,791

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	810,894		PV Crystalox Solar plc	$	640
	94,480	*	Q-Cells AG.		529
	219,130	*	Rambus, Inc		4,567
	481,998		Realtek Semiconductor Corp		1,114
	250,546	*	Renewable Energy Corp AS		849
	1,391,408	*	RF Micro Devices, Inc		8,543
	166,661		Richtek Technology Corp		1,238
	182,058		Rohm Co Ltd		11,231
	18,965	*	Roth & Rau AG.		452
	63,578	*	Rubicon Technology, Inc		1,443
	144,845	*	Rudolph Technologies, Inc		1,204
	192,422		Samsung Electronics Co Ltd		131,123
	30,618		Samsung Electronics Co Ltd (Preference)		14,957
	232,000	*	Sanken Electric Co Ltd		748
	24,645,000	*	Semiconductor Manufacturing International		1,779
	268,168	*	Semtech Corp		5,414
	39,203		Seoul Semiconductor Co Ltd		1,492
	42,000	*	Shibaura Mechatronics Corp		141
	90,000		Shindengen Electric Manufacturing Co Ltd		319
	20,500		Shinkawa Ltd		213
	183,446		Shinko Electric Industries		2,028
	142,195	*	Sigma Designs, Inc		1,634
	117,108	*	Silex Systems Ltd		573
	305,660	*	Silicon Image, Inc		1,461
	92,641	*	Silicon Laboratories, Inc		3,395
	25,200	*	Silicon Works Co Ltd		1,547
	3,828,031		Siliconware Precision Industries Co		4,019
	4,900,000	*	Sino-Tech International Holdings Ltd		265
	1,124,307	*	Skyworks Solutions, Inc		23,251
	108,088	*	SOITEC		1,028
	116,980		Solarworld AG.		1,467
	40,598,511		Solomon Systech International Ltd		2,564
	85,656	*	Spansion, Inc		1,282
	106,835	*	Standard Microsystems Corp		2,437
	1,249,569		STMicroelectronics NV		9,567
	225,774	*	Sumco Corp		3,521
	306,324	*	Sunpower Corp (Class A)		4,411
	27	*	Sunpower Corp (Class B)		0	^
	45,654	*	Supertex, Inc		1,010
	41,060,717		Taiwan Semiconductor Manufacturing Co Ltd		81,487
	2,021,546	*	Teradyne, Inc		22,520
	301,551	*	Tessera Technologies, Inc		5,579
	3,874,625		Texas Instruments, Inc		105,158
	74		Thine Electronics Inc		78
	213,182		Tokyo Electron Ltd		10,687
	57,300	*	Tokyo Seimitsu Co Ltd		745
	274,015	*	Tower Semiconductor Ltd		385
	260,508		Transcend Information, Inc		671
	521,374	*	Trident Microsystems, Inc		892
	722,694	*	Triquint Semiconductor, Inc		6,938
	107,142	*	Ultra Clean Holdings		924
	107,539	*	Ultratech, Inc		1,839

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	69,900		Ulvac, Inc	$	1,244
	23,649,022		United Microelectronics Corp		10,484
	2,252,743		Vanguard International Semiconductor Corp		988
	162,482	*	Varian Semiconductor Equipment Associates, Inc		4,676
	359,916	*	Veeco Instruments, Inc		12,550
	599,270	*	Verigy Ltd		4,872
	182,331	*	Volterra Semiconductor Corp		3,924
	3,386,000	*	Winbond Electronics Corp		898
	159,582	*	Wolfson Microelectronics plc		674
	526,472		Xilinx, Inc		14,009
	383,021	*	Zoran Corp		2,926
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		2,239,942
SOFTWARE & SERVICES - 6.5%
	63,953	*	Absolute Software Corp		246
	2,310,643		Accenture plc		98,179
	687	*	Access Co Ltd		865
	166,608	*	ACI Worldwide, Inc		3,730
	1,658	*	Acotel Group S.p.A		107
	1,659,974		Activision Blizzard, Inc		17,961
	250,292	*	Actuate Corp		1,289
	433,280	*	Acxiom Corp		6,872
	2,235,774	*	Adobe Systems, Inc		58,465
	63,093	*	Advent Software, Inc		3,293
	730,262	*	Akamai Technologies, Inc		36,645
	1,807,500		Alibaba.com Ltd		3,765
	2,029,020	*	Alliance Data Systems Corp		132,413
	137,547		Alpha Systems, Inc		2,709
	34,467		Alten		1,117
	122,277	*	Altran Technologies S.A.		486
	750,000	*	Amadeus IT Holding S.A.		13,798
	817,175	*	Amdocs Ltd		23,420
	115,463	*	American Software, Inc (Class A)		681
	82,335	*	Ancestry.com, Inc		1,874
	292,556	*	Ansys, Inc		12,360
	1,352,219	*	AOL, Inc		33,467
	48,595	*	Archipelago Learning, Inc		582
	130,048	*	ArcSight, Inc		5,665
	344,387		Argo Graphics, Inc		4,051
	389,466	*	Ariba, Inc		7,361
	859,967	*	Art Technology Group, Inc		3,552
	273,812	*	Aspen Technology, Inc		2,839
	78,015		Asseco Poland S.A.		1,409
	437,118	*	Atos Origin S.A.		19,760
	1,686,431	*	Autodesk, Inc		53,915
	1,203,126		Automatic Data Processing, Inc		50,567
	5,576,907	*	Autonomy Corp plc		158,832
	501,080		Aveva Group plc		11,516
	217,991	*	Baidu, Inc (ADR)		22,370
	28,334		Bechtle AG.		937
	250,467		Blackbaud, Inc		6,021
	147,196	*	Blackboard, Inc		5,305

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,392,353	*	BMC Software, Inc	$	56,362
	141,638	*	Bottomline Technologies, Inc		2,176
	319,605		Broadridge Financial Solutions, Inc		7,309
	17,100	*	BroadSoft, Inc		148
	306,606	*	Buongiorno S.p.A.		446
	1,159,645		CA, Inc		24,492
	183,788	*	CACI International, Inc (Class A)		8,318
	573,927	*	Cadence Design Systems, Inc		4,379
	95,769		Cap Gemini S.A.		4,805
	121,986		Capcom Co Ltd		1,913
	145,283		carsales.com.au Ltd		653
	39,698		Cass Information Systems, Inc		1,362
	139,988	*,b	CDC Corp		592
	21,466		Cegid Group		622
	490,071	*	CGI Group, Inc		7,378
	160,867	*	Check Point Software Technologies		5,941
	17,758	*	ChinaCache International Holdings Ltd. (ADR)		247
	48,000		Chinese Gamer International Corp		361
	263,253	*	Ciber, Inc		792
	570,735	*	Citrix Systems, Inc		38,947
	1,462,760	*	Cognizant Technology Solutions Corp (Class A)		94,304
	8,772		ComBOTS AG.		99
	521,989	*	Commvault Systems, Inc		13,587
	1,013,643		Companhia Brasileira de Meios de Pagamento		8,824
	363,172		Computacenter plc		1,634
	930,884		Computer Sciences Corp		42,821
	70,488	*	Computer Task Group, Inc		539
	420,316		Computershare Ltd		3,961
	458,674	*	Compuware Corp		3,912
	101,803	*	comScore, Inc		2,394
	174,374	*	Concur Technologies, Inc		8,621
	125,596	*	Constant Contact, Inc		2,692
	968,002	*	Convergys Corp		10,116
	13,260	*	Convio, Inc		122
	760,000		CSE Global Ltd		618
	295,529		CSG Ltd		513
	223,460	*	CSG Systems International, Inc		4,074
	105,300		CSK Holdings Corp		378
	126,976		Customers Ltd		245
	98,579		Dassault Systemes S.A.		7,252
	2,493	*	Daum Communications		172
	173,478	*	DealerTrack Holdings, Inc		2,963
	100,385	*	Deltek, Inc		804
	112,113	*	DemandTec, Inc		1,055
	11,111		Devoteam S.A.		292
	203,258		Diamond Management & Technology Consultants, Inc		2,541
	84,802	*	Dice Holdings, Inc		719
	2,994	*	Digital Garage, Inc		5,380
	186,002	*	Digital River, Inc		6,332
	2,372,706		Dimension Data Holdings plc		4,458
	139,091	*	DivX, Inc		1,326
	31,759	*	DMRC Corp		745

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	308,918		DST Systems, Inc	$	13,852
	27,800		DTS Corp		281
	135		Dwango Co Ltd		271
	2,048		eAccess Ltd		1,570
	606,973		Earthlink, Inc		5,517
	5,905,353	*	eBay, Inc		144,090
	117,504	*	Ebix, Inc		2,755
	42,972	*	Echo Global Logistics, Inc		549
	12,320		Econocom Group		185
	60,000	*	EDB Business Partner ASA		147
	1,045,164	*	Electronic Arts, Inc		17,172
	248,495		Ementor ASA		1,969
	5,898		Engineering Ingegneria Informatica S.p.A.		167
	17,400	*	Envestnet, Inc		182
	232,738	*	Epicor Software Corp		2,025
	161,886		EPIQ Systems, Inc		1,985
	17,189	*	ePlus, Inc		369
	141,769	*	Equinix, Inc		14,510
	243,834	*	Euronet Worldwide, Inc		4,387
	17,784		Exact Holding NV		450
	73,049	*	ExlService Holdings, Inc		1,421
	12,100	*	Eyeblaster, Inc		167
	283,921		Factset Research Systems, Inc		23,035
	211,046		Fair Isaac Corp		5,204
	154,345	*	FalconStor Software, Inc		472
	552,624		Fidelity National Information Services, Inc		14,993
	44,898		Fidessa Group plc		1,070
	217,749		First American Corp		4,172
	313,809	*	Fiserv, Inc		16,889
	64,306	*	Forrester Research, Inc		2,127
	124,612	*	Forthnet S.A.		114
	264,848	*	Fortinet, Inc		6,621
	125,728		F-Secure Oyj		389
	46,400		FUJI SOFT, Inc		714
	249		Future Architect, Inc		88
	90,239	*	GameLoft		440
	564,492	*	Gartner, Inc		16,619
	138,100	*	Genpact Ltd		2,449
	812,500		Geodesic Information Systems Ltd		1,685
	70,995		GFI Informatique		270
	181,040	*	Global Cash Access, Inc		739
	445,426		Global Payments, Inc		19,104
	72,900		GMO internet, Inc		258
	1,522,609	*	Google, Inc (Class A)		800,572
	170		Gourmet Navigator, Inc		222
	350,000	*	Gravity Co Ltd (ADR)		525
	3,500	*	Gree, Inc		57
	17,970,000	*	G-Resources Group Ltd		1,204
	55,981		Groupe Steria SCA		1,674
	418,341	*	GSI Commerce, Inc		10,333
	51,635	*	Guidance Software, Inc		302
	136,217	*	Hackett Group, Inc		563

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	202,000		HCL Technologies Ltd	$	1,891
	170,968		Heartland Payment Systems, Inc		2,602
	195,902	*	Hewitt Associates, Inc (Class A)		9,879
	67,702		HIQ International AB		343
	959,420	*	IAC/InterActiveCorp		25,204
	102,957		iGate Corp		1,868
	5,977	*	Index Corp		235
	521,210		Indra Sistemas S.A.		9,940
	87,198		Industrial & Financial Systems		1,213
	42,000		Ines Corp		268
	458,324	*	Informatica Corp		17,604
	431,900	a,m	Information Development Co		3,032
	34,400		Information Services International-Dentsu Ltd		240
	184,878	*	Infospace, Inc		1,601
	777,211		Infosys Technologies Ltd		52,762
	401,949		Intec Telecom Systems plc		478
	102,016	*	Integral Systems, Inc		753
	62,876	*	Interactive Intelligence, Inc		1,107
	240,074	*	Internap Network Services Corp		1,179
	5,666,906		International Business Machines Corp		760,158
	129,067	*	Internet Brands, Inc (Class A)		1,714
	203,135	*	Internet Capital Group, Inc		2,241
	8,299	*	Internet Gold-Golden Lines Ltd		191
	231		Internet Initiative Japan, Inc		611
	1,917,510	*	Intuit, Inc		84,006
	225,857		Iress Market Technology Ltd		1,866
	132,860		IT Holdings Corp		1,436
	131,887		Itochu Techno-Science Corp		4,307
	196,493	*	j2 Global Communications, Inc		4,675
	385,696		Jack Henry & Associates, Inc		9,835
	201,334	*	JDA Software Group, Inc		5,106
	627		Kakaku.com, Inc		3,631
	165,452	*	Kenexa Corp		2,899
	59,147		Keynote Systems, Inc		687
	85,352	*	KIT Digital, Inc		1,023
	145,042	*	Knot, Inc		1,324
	194,433		Konami Corp		3,433
	758,520	*	Lawson Software, Inc		6,425
	430,687		Lender Processing Services, Inc		14,312
	163,870	*	Limelight Networks, Inc		964
	308,110	*	Lionbridge Technologies		1,325
	71,673	*	Liquidity Services, Inc		1,147
	230,595	*	Liveperson, Inc		1,937
	71,415	*	Local.com Corp		316
	3,154,986		LogicaCMG plc		6,284
	110,398	*	LogMeIn, Inc		3,972
	3,517	*	Longtop Financial Technologies Ltd (ADR)		138
	125,661	*	LoopNet, Inc		1,488
	75,525	*	MacDonald Dettwiler & Associates Ltd		3,340
	466		Macromill, Inc		748
	240,680	*	Magma Design Automation, Inc		891
	139,426	*	Manhattan Associates, Inc		4,092

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	102,811	*	Mantech International Corp (Class A)	$	4,071
	120,179		Marchex, Inc (Class B)		655
	454,898		Mastercard, Inc (Class A)		101,896
	52,927		Matrix IT Ltd		287
	112,654		MAXIMUS, Inc		6,937
	511,253	*	McAfee, Inc		24,162
	14,892		Meetic		471
	477,178	*	Mentor Graphics Corp		5,044
	430,973		Micro Focus International plc		2,583
	407,032	*	Micros Systems, Inc		17,230
	43,117,137		Microsoft Corp		1,055,938
	62,200	*	MicroStrategy, Inc (Class A)		5,387
	582,976	*	Misys plc		2,616
	86	*	Mixi Inc		448
	270,155	*	ModusLink Global Solutions, Inc		1,715
	406,458	*	MoneyGram International, Inc		992
	369,915		Moneysupermarket.com Group plc		476
	104,812	*	Monotype Imaging Holdings, Inc		959
	347,614	*	Monster Worldwide, Inc		4,505
	12,100	*	Motricity, Inc		145
	738,185	*	Move, Inc		1,646
	151		MTI Ltd		192
	31,962	*	NCI, Inc (Class A)		605
	18,365		Ncsoft		3,817
	42,700		NEC Fielding Ltd		474
	15,119		Nemetschek AG.		499
	3,808	*	Neowiz Games Corp		154
	33,617		Net Entertainment NE AB		314
	791		NET One Systems Co Ltd		1,071
	220,481	*	Netscout Systems, Inc		4,522
	75,870	*	NetSuite, Inc		1,788
	26,781		NetVision Ltd		303
	351,184	*	NeuStar, Inc (Class A)		8,730
	62,152	*	NHN Corp		10,683
	238,318		NIC, Inc		1,976
	73,715	*	Nice Systems Ltd		2,271
	75,900		Nihon Unisys Ltd		502
	150,191		Nintendo Co Ltd		37,530
	46,100		Nippon System Development Co Ltd		523
	335,401		Nippon Systemware Co Ltd		1,314
	120,004		Nomura Research Institute Ltd		2,255
	37,073		Novabase SGPS S.A.		162
	1,057,169	*	Novell, Inc		6,311
	36,600		NS Solutions Corp		673
	2,752		NTT Data Corp		8,700
	2,046,096	*	Nuance Communications, Inc		32,001
	8,500		OBIC Business Consultants Ltd		457
	16,806		Obic Co Ltd		3,177
	127,683	*	Online Resources Corp		567
	65,137	*	Open Text Corp		3,074
	68,774	*	OpenTable, Inc		4,682
	397,901	*	Openwave Systems, Inc		676

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	201,398		Opera Software ASA	$	925
	52,423		Opnet Technologies, Inc		951
	18,344,621		Oracle Corp		492,552
	37,421		Oracle Corp Japan		1,782
	34,461		ORC Software AB		680
	62,957	*	Ordina NV		230
	15,741		Otsuka Corp		1,045
	516,058	*	Parametric Technology Corp		10,084
	4,161		Patni Computer Systems Ltd		38
	685,693		Paychex, Inc		18,850
	275,000	m	PCA Corp		2,741
	57,841		Pegasystems, Inc		1,796
	105,944	*	Perficient, Inc		968
	2,486	*	Phoenix Technologies Ltd		10
	3,651,321		Playtech Ltd		24,894
	190,027	*	Progress Software Corp		6,290
	94,575	*	PROS Holdings, Inc		878
	70,273		QAD, Inc		292
	163,832	*	QLIK Technologies, Inc		3,612
	358,168	*	Quest Software, Inc		8,807
	42,503	*	QuinStreet, Inc		639
	425,814	*	Rackspace Hosting, Inc		11,063
	181,919	*	Radiant Systems, Inc		3,111
	211,000	*	RCG Holdings Ltd		126
	61,800	*	RealD, Inc		1,143
	360,626	*	RealNetworks, Inc		1,176
	41,900	*	RealPage, Inc		799
	892,011	*	Red Hat, Inc		36,572
	423,700		Redecard S.A.		6,573
	88,193		Redflex Holdings Ltd		220
	78,009		Renaissance Learning, Inc		795
	5,378		Reply S.p.A.		118
	20,509	*	Retalix Ltd		257
	139,057	*	RightNow Technologies, Inc		2,739
	44,780	*	Rosetta Stone, Inc		951
	362,468	*	Rovi Corp		18,272
	267,519	*	S1 Corp		1,394
	121,055	*	Saba Software, Inc		659
	2,332,164		Sage Group plc		10,123
	844,910	*	SAIC, Inc		13,502
	296,070	*	Salesforce.com, Inc		33,101
	1,392,478		SAP AG.		68,880
	454,170		Sapient Corp		5,436
	897,250	*	Satyam Computer Services Ltd		1,802
	159,561	*	SAVVIS, Inc		3,364
	107,203	*	SDL plc		1,006
	6,202		SimCorp AS		988
	514	*	Simplex Technology, Inc		312
	2,640	*	Sina Corp		134
	20,717		SK C&C Co Ltd		1,844
	135,906	*	Smith Micro Software, Inc		1,351
	168,678		SMS Management & Technology Ltd		1,081

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	34,242		Software AG.	$	4,136
	215,635	*	SolarWinds, Inc		3,722
	140,251		Solera Holdings, Inc		6,193
	194		So-net Entertainment Corp		518
	113,529	*	Sonic Solutions, Inc		1,292
	7,439		Sopra Group S.A.		584
	186,615	*	Sourcefire, Inc		5,382
	10,365	*	SPS Commerce, Inc		133
	180,495		Square Enix Co Ltd		4,045
	216,911	*	SRA International, Inc (Class A)		4,277
	53,725	*	SRS Labs, Inc		502
	51,931	*	SS&C Technologies Holdings, Inc		821
	55,550	*	Stamps.com, Inc		722
	790	*	StarTek, Inc		3
	10,011	*	Stream Global Services, Inc		41
	263,198	*	SuccessFactors, Inc		6,609
	26,271		Sumisho Computer Systems Corp		399
	207,693	*	SupportSoft, Inc		951
	10,232		Sword Group		363
	6,584,783	*	Symantec Corp		99,891
	90,429	*	Synchronoss Technologies, Inc		1,611
	304,669	*	Synopsys, Inc		7,547
	54,849		Syntel, Inc		2,441
	24,900	*	TA Indigo Holding Corp		421
	318,562	*	Take-Two Interactive Software, Inc		3,230
	300,109	*	Taleo Corp (Class A)		8,700
	846,310		Tata Consultancy Services Ltd		17,458
	59,644	*	TechTarget, Inc		313
	45,800		Tecmo Koei Holdings Co Ltd		301
	245,441	*	Telecity Group plc		1,910
	278,302	*	TeleCommunication Systems, Inc (Class A)		1,088
	42,596		Telecomunicaciones y Energia		151
	33,589	*	TeleNav, Inc		178
	251,817	*	TeleTech Holdings, Inc		3,737
	502,522	*	Temenos Group AG.		15,393
	1,622,600		Tencent Holdings Ltd		35,468
	1,239,803	*	Teradata Corp		47,807
	246,358	*	Terremark Worldwide, Inc		2,547
	328,978	*	THQ, Inc		1,322
	1,009,463	*	TIBCO Software, Inc		17,908
	74,519	*	Tier Technologies, Inc		413
	99,807		Tietoenator Oyj		1,987
	3,891,041	*	Tiscali S.p.A.		535
	513,190	*	TiVo, Inc		4,650
	20,200		TKC		388
	111,976	*	TNS, Inc		1,898
	1,029,755		Total System Services, Inc		15,693
	69,707	*	TradeDoubler AB		362
	49,100	*	Trans Cosmos, Inc/Japan		402
	26,986	*	Travelzoo, Inc		695
	49,103	*	Trend Micro, Inc		1,465
	121,495	*	Tyler Technologies, Inc		2,449

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	60	*	Ubiquitous Corp	$	124
	119,763	*	UBISOFT Entertainment		1,333
	107,648	*	Ultimate Software Group, Inc		4,160
	80,766	*	Unica Corp		1,694
	436,809	*	Unisys Corp		12,187
	36,234		Unit 4 Agresso NV		988
	428,235		United Internet AG.		6,924
	541,755		United Online, Inc		3,099
	522,808	*	Valueclick, Inc		6,838
	125,488	*	Vasco Data Security International		816
	477,636	*	VeriFone Holdings, Inc		14,840
	283		VeriSign Japan KK		110
	412,351	*	VeriSign, Inc		13,088
	140,660		VirnetX Holding Corp		2,065
	62,720	*	Virtusa Corp		608
	1,763,677		Visa, Inc (Class A)		130,970
	139,583	*	VistaPrint Ltd		5,395
	630,963	*	VMware, Inc (Class A)		53,594
	76,979	*	Vocus, Inc		1,423
	345,953	*	Wave Systems Corp		775
	131,370	*	WebMD Health Corp (Class A)		6,551
	286,385	*	Websense, Inc		5,080
	117		Wellnet Corp		84
	4,580,827		Western Union Co		80,943
	803,078		Wipro Ltd		8,033
	162,608		Wirecard AG.		2,215
	444		Works Applications Co Ltd		205
	170,021	*	Wright Express Corp		6,071
	286,066		Xchanging plc		645
	4,227	*	XING AG.		166
	26,473		Yahoo! Japan Corp		9,146
	5,151,744	*	Yahoo!, Inc		73,000
	97		Zappallas, Inc		129
	296,913	*	Zix Corp		843
			TOTAL SOFTWARE & SERVICES		6,405,122
TECHNOLOGY HARDWARE & EQUIPMENT - 6.1%
	43,200	*	5N Plus, Inc		243
	1,270,000		AAC Acoustic Technologies Holdings, Inc		2,770
	31,247		Aastra Technologies Ltd		726
	3,408,325		Acer, Inc		8,662
	256,341	*	Acme Packet, Inc		9,726
	514,394	*	ADC Telecommunications, Inc		6,517
	346,696		Adtran, Inc		12,238
	87,732	*	ADVA AG. Optical Networking		659
	280,978		Advantech Co Ltd		739
	1,434,379	*	Agilent Technologies, Inc		47,866
	199,196	*	Agilysys, Inc		1,295
	18,500		Aiphone Co Ltd		293
	4,616,059	*	Alcatel S.A.		15,543
	333,700	*	Alps Electric Co Ltd		2,734
	82,284	*	Alvarion Ltd		162

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,056		Amper S.A.	$	176
	396,028		Amphenol Corp (Class A)		19,398
	84,403	*	Anaren, Inc		1,417
	211,562	*	Anixter International, Inc		11,422
	134,000	*	Anritsu Corp		848
	5,602,277	*	Apple, Inc		1,589,645
	52,200		Arisawa Manufacturing Co Ltd		325
	811,420	*	Arris Group, Inc		7,928
	246,624	*	Arrow Electronics, Inc		6,592
	2,125,000	*	Artel Solutions Group Holdings Ltd		86
	348,908	*	Aruba Networks, Inc		7,446
	39,357	*	Ascom Holding AG.		453
	781,978		Asustek Computer, Inc		5,607
	18,207,853		AU Optronics Corp		18,883
	667,329	*	AU Optronics Corp (ADR)		6,980
	45,629	*	Audiocodes Ltd		167
	20,218		Austria Technologie & Systemtechnik AG.		326
	272,221	*	Avanzit S.A.		218
	3,715,741		Avermedia Technologies		5,019
	129,749	*	Avid Technology, Inc		1,701
	529,743	*	Avnet, Inc		14,308
	283,381		AVX Corp		3,916
	55,619		Axis Communications AB		805
	49,966	*	Balda AG.		339
	17,884	*	Barco NV		817
	55,580		Bel Fuse, Inc (Class B)		1,157
	341,974	*	Benchmark Electronics, Inc		5,608
	1,748,120	*	Benq Corp		1,239
	192,846	*	BigBand Networks, Inc		548
	98,282		Black Box Corp		3,151
	252,236	*	Blue Coat Systems, Inc		6,069
	203,049	*	Bookham, Inc		3,251
	511,665	*	Brightpoint, Inc		3,577
	932,727	*	Brocade Communications Systems, Inc		5,447
	208,461		Brother Industries Ltd		2,575
	123,249	*	Bull S.A.		524
	25,843	*	Calix Networks, Inc		371
	33,000		Canon Electronics, Inc		843
	1,726,500		Canon, Inc		80,555
	1,660,853		Catcher Technology Co Ltd		3,828
	349,057	*	Celestica, Inc		2,931
	50,594	*	Ceragon Networks Ltd		507
	198,201	*	Checkpoint Systems, Inc		4,033
	369,416		Cheng Uei Precision Industry Co Ltd		683
	501,347		Chicony Electronics Co Ltd		1,059
	4,982,825	*	Chunghwa Picture Tubes Ltd		719
	368,058	*	Ciena Corp		5,731
	35,317,153	*	Cisco Systems, Inc		773,445
	312,619		Citizen Watch Co Ltd		1,876
	636,212		Clevo Co		1,448
	3,248,000	*	CMC Magnetics Corp		865
	53,700	*	CMK Corp		239

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	291,071	*	Cogent, Inc	$	3,097
	171,277		Cognex Corp		4,594
	156,774	*	Coherent, Inc		6,273
	105,400	*	COM DEV International Ltd		238
	635,732	*	CommScope, Inc		15,092
	286,675		Compal Communications, Inc		263
	7,977,469		Compal Electronics, Inc		9,537
	189,936	*	Compellent Technologies, Inc		3,453
	221,326	*	Comtech Telecommunications Corp		6,053
	108,397	*	Comverge, Inc		852
	2,860,800		Coretronic Corp		4,395
	6,692,251		Corning, Inc		122,335
	54,602	*	CPI International, Inc		764
	268,839	*	Cray, Inc		1,774
	63,850		Creative Technology Ltd		194
	194,783		CTS Corp		1,874
	7,800		DAI-ICHI SEIKO Co Ltd		377
	152,215		Daktronics, Inc		1,495
	65,114		DDi Corp		602
	9,160,693	*	Dell, Inc		118,723
	3,231,964		Delta Electronics, Inc		13,500
	136,000		Denki Kogyo Co Ltd		603
	109,941	*	DG FastChannel, Inc		2,391
	130,402		Diebold, Inc		4,054
	131,429	*	Digi International, Inc		1,247
	9,063	*	Digital Multimedia Technologies S.p.A.		163
	452,530		Diploma plc		2,022
	292,709	*	Dolby Laboratories, Inc (Class A)		16,629
	73,949	*	DTS, Inc		2,823
	153,102	*	Echelon Corp		1,309
	117,583	*	EchoStar Corp (Class A)		2,243
	20,371		Eizo Nanao Corp		429
	72,149		Electro Rent Corp		958
	131,719	*	Electro Scientific Industries, Inc		1,463
	813,525		Electrocomponents plc		3,103
	198,567	*	Electronics for Imaging, Inc		2,407
	625,997	*	Eltek ASA		325
	9,301,318	*	EMC Corp		188,910
	85,492	*	EMS Technologies, Inc		1,593
	393,693	*	Emulex Corp		4,110
	19,800		Enplas Corp		276
	4,446,880		Ericsson (LM) (B Shares)		48,821
	58,243		Esprinet S.p.A.		525
	334,970		Everlight Electronics Co Ltd		942
	14,896		EVS Broadcast Equipment S.A.		914
	32,563	*	Exfo Electro Optical Engineering, Inc		188
	421,653	*	Extreme Networks, Inc		1,311
	469,626	*	F5 Networks, Inc		48,752
	32,200	*	Fabrinet		509
	70,526	*	FARO Technologies, Inc		1,538
	111,000	*	FDK Corp		158
	355,778	*	Finisar Corp		6,685

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,212		Firich Enterprises Co Ltd	$	26
	316,153	*	Flir Systems, Inc		8,125
	2,388,779	*	Foxconn International Holdings Ltd		1,755
	841,278		Foxconn Technology Co Ltd		2,666
	1,101,075		Fuji Folms Holdings Corp		36,470
	6,399,643		Fujitsu Ltd		44,923
	28,700		Furuno Electric Co Ltd		133
	419,705		Gemalto NV		17,225
	140,413	*	Gerber Scientific, Inc		866
	40,103	*	Gilat Satellite Networks Ltd		236
	109,556	*	Globecomm Systems, Inc		917
	54,900		Hakuto Co Ltd		487
	534,299		Halma plc		2,656
	70,200		Hamamatsu Photonics KK		2,290
	5,539,441	*	HannStar Display Corp		1,106
	454,422	*	Harmonic, Inc		3,126
	751,400		Harris Corp		33,280
	333,790	*	Harris Stratex Networks, Inc (Class A)		1,365
	16,480,385		Hewlett-Packard Co		693,329
	1,854,967		High Tech Computer Corp		42,097
	10,200		Hioki EE Corp		211
	26,598		Hirose Electric Co Ltd		2,680
	54,290		Hitachi High-Technologies Corp		1,002
	67,000		Hitachi Kokusai Electric, Inc		508
	14,654,251	*	Hitachi Ltd		64,074
	15,509,829		Hon Hai Precision Industry Co, Ltd		58,334
	47,495		Horiba Ltd		1,160
	102,100		Hosiden Corp		925
	755,115	*	Hoya Corp		18,408
	40,202	*	Hughes Communications, Inc		1,096
	134,785	*	Hutchinson Technology, Inc		468
	228,715	*	Hypercom Corp		1,487
	194,073	*	Ibiden Co Ltd		4,926
	12,200		Icom, Inc		318
	71,346	*	ICx Technologies, Inc		539
	300,000	*	Imagination Technologies Group PLC		1,797
	168,923	*	Imation Corp		1,576
	136,882	*	Immersion Corp		809
	2,359		Inficon Holding AG.		331
	365,944	*	Infinera Corp		4,271
	48,205		Ingenico		1,408
	319,026	*	Ingram Micro, Inc (Class A)		5,379
	6,161,243		InnoLux Display Corp		8,382
	244,540	*	Insight Enterprises, Inc		3,825
	193,170	*	InterDigital, Inc		5,720
	206,656	*	Intermec, Inc		2,534
	105,864	*	Intevac, Inc		1,060
	4,354,356		Inventec Co Ltd		2,265
	115,460	*	IPG Photonics Corp		2,787
	185,225	*	Isilon Systems, Inc		4,127
	162,956	*	Itron, Inc		9,978
	59,212		Ituran Location and Control Ltd		843

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	164,805	*	Ixia	$	2,044
	595,228		Jabil Circuit, Inc		8,577
	132,000		Japan Aviation Electronics Industry Ltd		803
	18,900		Japan Cash Machine Co Ltd		144
	54,400		Japan Digital Laboratory Co Ltd		545
	213,000	*	Japan Radio Co Ltd		490
	295,200		JCY International Bhd		95
	4,137,222	*	JDS Uniphase Corp		51,260
	53,096	*	Jenoptik AG.		308
	2,255,581	*	Juniper Networks, Inc		68,457
	27,600		Kaga Electronics Co Ltd		301
	5,839		Kapsch TrafficCom AG.		311
	54,362		Keithley Instruments, Inc		1,169
	46,783		Keyence Corp		10,177
	1,366,776		Kingboard Chemical Holdings Ltd		6,923
	73,400		Koa Corp		698
	775,321		Konica Minolta Holdings, Inc		7,560
	46,641		Kudelski S.A.		1,220
	69,451	*	KVH Industries, Inc		1,042
	275,003		Kyocera Corp		25,993
	369,983	*	L-1 Identity Solutions, Inc		4,340
	511,372		Laird Group plc		1,113
	229,734		Largan Precision Co Ltd		4,375
	16,403,700		Lenovo Group Ltd		10,127
	622,192	*	Lexmark International, Inc (Class A)		27,762
	12,090		LG Innotek Co Ltd		1,484
	387,112		LG.Philips LCD Co Ltd		13,376
	4,634,334		Lite-On Technology Corp		5,845
	99,200	*	Littelfuse, Inc		4,335
	19,330	*	Logitech International S.A.		337
	1,797	*	LoJack Corp		7
	59,024	*	Loral Space & Communications, Inc		3,081
	27,100		Macnica, Inc		530
	145,000		Marubun Corp		665
	113,929	*	Maxwell Technologies, Inc		1,665
	859,000	m	Meadville Holdings Ltd		141
	65,952	*	Measurement Specialties, Inc		1,219
	21,800	*	Megachips Corp		366
	14,600		Meiko Electronics Co		284
	29,500		Melco Holdings, Inc		994
	142,134	*	Mercury Computer Systems, Inc		1,710
	23,491	*	Meru Networks, Inc		405
	178,803		Methode Electronics, Inc		1,624
	1,127,554		Micro-Star International Co Ltd		606
	384,630	*	Microvision, Inc		842
	130	*	MidgardXXI, Inc		0	^
	1,195,622		Mitac International		568
	61,852		Mitsumi Electric Co Ltd		948
	276,495		Molex, Inc		5,787
	11,375,460	*	Motorola, Inc		97,032
	69,494		MTS Systems Corp		2,154
	94,654	*	Multi-Fineline Electronix, Inc		2,081

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	419,133		Murata Manufacturing Co Ltd	$	22,092
	272,078		Nan Ya Printed Circuit Board Corp		1,054
	126,421		National Instruments Corp		4,129
	330,686	*	NCR Corp		4,507
	1,018,399		NEC Corp		2,708
	20,800		NEC Mobiling Ltd		557
	37,349		Neopost S.A.		2,780
	460,480	*	Net Insight AB		283
	1,906,768	*	NetApp, Inc		94,938
	515,736	*	Netezza Corp		13,899
	154,950	*	Netgear, Inc		4,185
	170,064	*	Network Engines, Inc		248
	144,448	*	Network Equipment Technologies, Inc		498
	188,468	*	Newport Corp		2,137
	75,997	*	Nichicon Corp		846
	24,200		Nidec Copal Electronics Corp		196
	54,000		Nidec Sankyo Corp		406
	25,500		Nihon Dempa Kogyo Co Ltd		392
	19,800		Nippon Ceramic Co Ltd		327
	294,000	*	Nippon Chemi-Con Corp		1,211
	986,111		Nippon Electric Glass Co Ltd		13,443
	44,000		Nohmi Bosai Ltd		255
	3,940,543		Nokia Oyj		39,591
	93,039		Nolato AB (B Shares)		1,108
	194,029	*	Novatel Wireless, Inc		1,529
	51,754	*	Occam Networks, Inc		405
	1,343,000	*	Oki Electric Industry Co Ltd		1,174
	221,408		Omron Corp		5,029
	122,087	*	Oplink Communications, Inc		2,422
	155,671	*	OpNext, Inc		244
	34,000		Osaki Electric Co Ltd		276
	120,520	*	OSI Systems, Inc		4,377
	91,607		Park Electrochemical Corp		2,413
	16,438	*	Parrot S.A.		328
	52,217	*	PC Connection, Inc		357
	109,345	*	PC-Tel, Inc		671
	2,550,913	*	Pegatron Technology Corp		3,335
	1,951		Phoenix Mecano AG.		1,191
	275,611		Plantronics, Inc		9,310
	176,260	*	Plexus Corp		5,173
	440,416	*	Polycom, Inc		12,015
	441,616	*	Power-One, Inc		4,014
	615,820	*	Powerwave Technologies, Inc		1,121
	919,430		Premier Farnell plc		3,851
	120,514	*	Presstek, Inc		264
	4,305,000	*	Prime View International Co Ltd		8,351
	227,027	*	QLogic Corp		4,005
	9,012,802		Qualcomm, Inc		406,657
	3,619,250		Quanta Computer, Inc		5,873
	1,058,408	*	Quantum Corp		2,244
	136,282	*	Rackable Systems, Inc		1,058
	127,999	*	Radisys Corp		1,206

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	50,554		Renishaw plc	$	819
	816,174	*	Research In Motion Ltd (Canada)		39,742
	105,525		Richardson Electronics Ltd		1,108
	2,100,133		Ricoh Co Ltd		29,610
	52,386	*	Rimage Corp		861
	37,400		Riso Kagaku Corp		502
	351,327	*	Riverbed Technology, Inc		16,013
	136,262	*	Rofin-Sinar Technologies, Inc		3,458
	75,644	*	Rogers Corp		2,381
	13,300		Roland DG Corp		184
	42,700		Ryosan Co Ltd		1,068
	32,700		Ryoyo Electro Corp		298
	80,089		Samsung Electro-Mechanics Co Ltd		8,745
	44,002		Samsung SDI Co Ltd		6,020
	1,768,941	*	SanDisk Corp		64,832
	158,413	*	Sandvine Corp		286
	335,003	*	Sanmina-SCI Corp		4,047
	33,200		Sanshin Electronics Co Ltd		281
	135,342	*	Scansource, Inc		3,754
	156,653	*	Seachange International, Inc		1,161
	5,335,197	*	Seagate Technology, Inc		62,849
	456,904		Seiko Epson Corp		6,924
	228,000		Shimadzu Corp		1,753
	51,100		Shinko Shoji Co Ltd		425
	199,268	*	ShoreTel, Inc		988
	45,253	*	Sierra Wireless, Inc		471
	255,110		Simplo Technology Co Ltd		1,454
	222,429	*	Smart Modular Technologies WWH, Inc		1,341
	33,802	*	Smart Technologies, Inc		458
	86,000		SMK Corp		385
	913,036	*	Sonus Networks, Inc		3,223
	161,451		Spectris plc		2,721
	64,743	*	Spectrum Control, Inc		953
	963,488		Spirent Communications plc		2,148
	64,500		Star Micronics Co Ltd		630
	206,392	*	STEC, Inc		2,570
	87,801	*	Stratasys, Inc		2,434
	98,180	*	Super Micro Computer, Inc		1,020
	73,123		Sycamore Networks, Inc		2,370
	269,372	*	Symmetricom, Inc		1,541
	146,756	*	Synaptics, Inc		4,130
	128,062	*	SYNNEX Corp		3,604
	1,510,198		Synnex Technology International Corp		3,500
	194,803		Taiyo Yuden Co Ltd		2,338
	82,000		Tamura Corp		229
	159,281		TDK Corp		8,882
	282,315	*	Tech Data Corp		11,377
	183,698		Technitrol, Inc		810
	339,370	*	Tekelec		4,398
	845,974		Tellabs, Inc		6,303
	25,847		Tessco Technologies, Inc		390
	16,900		Thrane & Thrane AS		716

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,022		TKH Group NV	$	931
	107,000	*	Toko, Inc		159
	155,105	*	Tokyo Denpa Co Ltd		903
	1,249	*	Tollgrade Communications, Inc		9
	81,100		Topcon Corp		323
	3,614,288	*	Toshiba Corp		17,491
	242,000		Toshiba TEC Corp		887
	35,900		Toyo Corp/Chuo-ku		348
	255,057	*	Trimble Navigation Ltd		8,937
	480,507		Tripod Technology Corp		1,838
	214,582	*	TT electronics plc		480
	388,160	*	TTM Technologies, Inc		3,800
	83,000	*	Uniden Corp		187
	3,313,756		Unimicron Technology Corp		5,813
	129,703	*	Universal Display Corp		3,048
	590,108	*	Utstarcom, Inc		1,281
	48		V Technology Co Ltd		168
	390,795		Venture Corp Ltd		2,918
	146,106	*	Viasat, Inc		6,006
	13,778	*	Viasystems Group, Inc		209
	1,537,502	*	Vishay Intertechnology, Inc		14,883
	65,046	*	Vishay Precision Group, Inc		1,015
	714,000		VST Holdings Ltd		190
	366,100		Vtech Holdings Ltd		3,742
	498		Wacom Co Ltd		617
	1,789,767		Wah Lee Industrial Corp		3,013
	1,845,791	*	Western Digital Corp		52,402
	58,362		Wincor Nixdorf AG.		3,805
	2,598,000	*	Wintek Corp		4,071
	2,758,116		Wistron Corp		5,032
	1,090,407		WPG Holdings Co Ltd		2,164
	11,188,031		Xerox Corp		115,795
	133,905	*	X-Rite, Inc		507
	151,335	*	Xyratex Ltd		2,246
	15,750	*,b,m	Ya Hsin Industrial Co Ltd		3
	156,000		Yageo Corp		67
	107,993		Yamatake Corp		2,705
	194,972		Yaskawa Electric Corp		1,572
	187,688	*	Yokogawa Electric Corp		1,277
	141,600		Young Fast Optoelectronics Co Ltd		1,614
	117,588	*	Zebra Technologies Corp (Class A)		3,956
	763,447		ZTE Corp		3,040
	80,022	*	Zygo Corp		784
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		6,189,810
TELECOMMUNICATION SERVICES - 3.5%
	14,953	*	012 Smile.Communications Ltd		396
	95,859	*	AboveNet, Inc		4,993
	2,001,900		Advanced Info Service PCL		6,266
	159,327	f	AFK Sistema (GDR)		4,302
	191,694		Alaska Communications Systems Group, Inc		1,946
	33,185,730		America Movil S.A. de C.V. (Series L)		88,405

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,442,682	*	American Tower Corp (Class A)	$	73,952
	29,453,984		AT&T, Inc		842,385
	37,998		Atlantic Tele-Network, Inc		1,871
	408,845		BCE, Inc		13,304
	80,416		Belgacom S.A.		3,136
	2,710,529		Bezeq Israeli Telecommunication Corp Ltd		6,757
	787,387		Bharti Airtel Ltd		6,419
	818,762		Brasil Telecom S.A. (Preference)		5,396
	29,195,183		BT Group plc		64,208
	3,953,439		Cable & Wireless plc		3,524
	1,724,142		Cable & Wireless Worldwide		1,992
	111,437	*	Cbeyond Communications, Inc		1,430
	58,734		Cellcom Israel Ltd		1,793
	1,245,159		CenturyTel, Inc		49,134
	3,398,232		China Communications Services Corp Ltd		2,015
	10,326,410		China Mobile Hong Kong Ltd		105,742
	25,935,859		China Telecom Corp Ltd		14,240
	8,923,215		China Unicom Ltd		13,065
	8,024,000		Chunghwa Telecom Co Ltd		17,979
	997,884	*	Cincinnati Bell, Inc		2,664
	1,441,000		Citic 1616 Holdings Ltd		522
	436,000		City Telecom (HK) Ltd		270
	564,390	*	Clearwire Corp (Class A)		4,566
	188,215	*	Cogent Communications Group, Inc		1,782
	841,468	*	Colt Telecom Group S.A.		1,564
	268,467	f	Comstar United Telesystems (GDR)		1,732
	169,928		Consolidated Communications Holdings, Inc		3,173
	920,384	*	Crown Castle International Corp		40,635
	6,375,264		Deutsche Telekom AG.		87,215
	873,800		Digi.Com BHD		6,878
	85,132		Drillisch AG.		619
	42,392		Egyptian Co for Mobile Services		1,322
	54,802		Elisa Oyj (Series A)		1,259
	153,714		Empresa Nacional de Telecomunicaciones S.A.		2,496
	233,500	*	Excelcomindo Pratama PT		141
	3,254,245		Far EasTone Telecommunications Co Ltd		4,557
	21,880	*	Fastweb		535
	199,704	*	FiberTower Corp		847
	307,435		France Telecom S.A.		6,643
	37		Freebit Co Ltd		76
	276,321		Freenet AG.		3,250
	5,687,572		Frontier Communications Corp		46,467
	224,989	*	General Communication, Inc (Class A)		2,243
	221,033	*	Global Crossing Ltd		2,842
	309,217	*	Globalstar, Inc		538
	45,520		Globe Telecom, Inc		923
	1,176,290		Hellenic Telecommunications Organization S.A.		8,467
	2,330,351		Hutchison Telecommunications Hong Kong Holdings Ltd		643
	403,590	*	ICO Global Communications Holdings Ltd (Class A)		662
	101,537	*	IDT Corp (Class B)		1,806
	190,677		iiNET Ltd		494

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,720		Iliad S.A.	$	700
	356,919		Inmarsat plc		3,720
	141,373	*	Iridium Communications, Inc		1,207
	279,401	*	Jazztel plc		1,105
	1,470,887		Kcom Group plc		1,230
	3,953		KDDI Corp		18,917
	161,000		Keppel Telecommunications & Transportation Ltd		155
	236,122		KT Corp		9,464
	188,554	*	Leap Wireless International, Inc		2,329
	5,293,158	*	Level 3 Communications, Inc		4,961
	371,970		LG Telecom Ltd		2,404
	835,536		Magyar Telekom		2,742
	29,700		Manitoba Telecom Services, Inc		815
	301,216		Maroc Telecom		5,468
	4,264,300		Maxis Bhd		7,390
	4,676,856	*	MetroPCS Communications, Inc		48,920
	42,092		Millicom International Cellular S.A.		4,015
	826,261		Mobile TeleSystems (ADR)		17,542
	718,809		MobileOne Ltd		1,197
	18,653		Mobistar S.A.		1,142
	2,825,575		MTN Group Ltd		51,077
	137,934	*	Neutral Tandem, Inc		1,648
	1,070,428	*	NII Holdings, Inc (Class B)		43,995
	1,799,962		Nippon Telegraph & Telephone Corp		78,592
	137,571		NTELOS Holdings Corp		2,328
	19,992		NTT DoCoMo, Inc		33,288
	258		Okinawa Cellular Telephone Co		525
	3,759,355		Orascom Telecom Holding SAE		3,328
	755,681	*	PAETEC Holding Corp		3,106
	100,701		Partner Communications		1,866
	11,305,024		PCCW Ltd		4,094
	84,482		Philippine Long Distance Telephone Co		5,036
	436,945		Portugal Telecom SGPS S.A.		5,832
	322,008	*	Premiere Global Services, Inc		2,280
	1,580,358		PT Indosat Tbk		974
	14,660,179		PT Telekomunikasi Indonesia Tbk (Series B)		15,112
	186,222	*	QSC AG.		425
	15,265,129		Qwest Communications International, Inc		95,712
	819,249		Reliance Communication Ventures Ltd		3,072
	710,087		Rogers Communications, Inc (Class B)		26,577
	600		Rostelecom (ADR)		16
	2,367,060		Royal KPN NV		36,609
	372,394	*	SBA Communications Corp (Class A)		15,007
	112,623		Shenandoah Telecom Co		2,046
	7,895,309		Singapore Telecommunications Ltd		18,851
	182,232	*	SK Broadband Co Ltd		869
	59,834		SK Telecom Co Ltd		8,999
	29,200		SK Telecom Co Ltd (ADR)		510
	436,500		SmarTone Telecommunications Holding Ltd		572
	1,334,293		Softbank Corp		43,651
	210,596	*	SONAECOM - SGPS S.A.		407
	20,456,187	*	Sprint Nextel Corp		94,712

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

	SHARES		COMPANY	VALUE (000)
	837,000		StarHub Ltd	$	1,642
	63,776		Swisscom AG.		25,721
	412,497	*	Syniverse Holdings, Inc		9,351
	3,685,103		Taiwan Mobile Co Ltd		7,608
	583,847	*	TalkTalk Telecom Group plc		1,345
	79,913		Tele Norte Leste Participacoes S.A.		1,485
	365,860		Tele Norte Leste Participacoes S.A. (Preference)		5,233
	429,703		Tele2 AB (B Shares)		9,021
	1,375,909		Telecom Corp of New Zealand Ltd		2,039
	864,519		Telecom Egypt		2,654
	38,684,249		Telecom Italia RSP		43,587
	9,722,855		Telecom Italia S.p.A.		13,586
	64,686		Telecom Plus plc		394
	162,407		Telefonica O2 Czech Republic A.S.		3,474
	4,263,348		Telefonica S.A.		105,575
	7,860,719		Telefonos de Mexico S.A. de C.V. (Series L)		5,870
	14,868		Telekom Austria AG.		224
	2,429,000		Telekom Malaysia BHD		2,691
	1,219,541		Telekomunikacja Polska S.A.		7,543
	33,896		Telemar Norte Leste S.A.		899
	78,021		Telenet Group Holding NV		2,618
	2,289,237		Telenor ASA		35,850
	577,434		Telephone & Data Systems, Inc		18,940
	222,618		Telesp Celular Participacoes S.A.		6,079
	1,091,745		TeliaSonera AB		8,844
	491,362		Telkom S.A. Ltd		2,714
	9,243,862		Telstra Corp Ltd		23,409
	70,863		TELUS Corp		3,149
	359,949		TELUS Corp, non-voting shares		15,256
	1,216,060		Tim Participacoes S.A.		3,917
	5,492,300	*	TM International BHD		7,793
	96,000		Total Access Communication PCL		132
	475,555		TPG Telecom Ltd		699
	823,046		Turk Telekomunikasyon AS		3,698
	1,113,521		Turkcell Iletisim Hizmet AS		7,505
	311,900		Turkcell Iletisim Hizmet AS (ADR)		5,227
	476,032	*	tw telecom inc (Class A)		8,840
	221,857	*	US Cellular Corp		10,199
	183,626		USA Mobility, Inc		2,944
	16,456,896		Verizon Communications, Inc		536,331
	543,501		Vodacom Group Pty Ltd		5,400
	67,784,897		Vodafone Group plc		167,286
	490,540		Vodafone Group plc (ADR)		12,170
	475,855	*	Vonage Holdings Corp		1,213
	1,951,770		Windstream Corp		23,987
			TOTAL TELECOMMUNICATION SERVICES		3,473,162
TRANSPORTATION - 2.2%
	46,947		Abertis Infraestructuras S.A.		875
	44,361	*	ACE Aviation Holdings, Inc (Class A)		485
	31,232		Aegean Airlines S.A.		97
	272,473	*	AER Lingus		388

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	116,324		Aeroports de Paris	$	9,488
	62,116	*	Air Berlin plc		253
	90,100	*	Air Canada (Class A)		252
	3,536,600	*	Air China Ltd		4,886
	93,258	*	Air France-KLM		1,430
	385,303		Air New Zealand Ltd		359
	266,586	*	Air Transport Services Group, Inc		1,624
	1,440,500	*	AirAsia BHD		1,050
	643,702	*	Airtran Holdings, Inc		4,731
	204,658	*	Alaska Air Group, Inc		10,444
	130,178		Alexander & Baldwin, Inc		4,535
	140,075	*,m	Alitalia S.p.A.		85
	556,852		All America Latina Logistica S.A.		5,631
	855,296	*	All Nippon Airways Co Ltd		3,166
	64,805		Allegiant Travel Co		2,743
	43,277	*	Amerco, Inc		3,440
	49,119	*	American Commercial Lines, Inc		1,369
	1,327,536	*	AMR Corp		8,324
	134,853		Ansaldo STS S.p.A.		1,745
	73		AP Moller - Maersk AS (Class A)		594
	1,079		AP Moller - Maersk AS (Class B)		9,020
	128,394		Arkansas Best Corp		3,111
	10,241,226	*	Asciano Group		16,333
	136,520	*	Atlas Air Worldwide Holdings, Inc		6,867
	339,111		Auckland International Airport Ltd		510
	874,575		Australian Infrastructure Fund		1,615
	107,682		Autostrada Torino-Milano S.p.A.		1,505
	332,423		Autostrade S.p.A.		6,888
	438,171	*	Avis Budget Group, Inc		5,105
	128,314	*	Avis Europe plc		437
	65,850		Baltic Trading Ltd		725
	637,356		BBA Aviation plc		1,886
	2,755,600		Beijing Capital International Airport Co Ltd		1,449
	177,080		Brisa-Auto Estradas de Portugal S.A.		1,142
	22,824,889	*	British Airways plc		87,056
	1,002,380		Canadian National Railway Co		64,103
	236,419		Canadian Pacific Railway Ltd		14,444
	5,425,923		Cathay Pacific Airways Ltd		14,721
	175,960	*	Celadon Group, Inc		2,430
	3,010		Central Japan Railway Co		22,139
	337,288		CH Robinson Worldwide, Inc		23,583
	2,910,127	*	China Airlines		2,096
	2,244,726		China Merchants Holdings International Co Ltd		8,158
	5,791,600	*	China Shipping Container Lines Co Ltd		2,135
	2,166,700		China Shipping Development Co Ltd		2,982
	14,177		Clarkson plc		224
	2,905,923		ComfortDelgro Corp Ltd		3,359
	19,416		Compagnie Maritime Belge S.A.		556
	214,187		Companhia de Concessoes Rodoviarias		5,526
	7,003,402		ConnectEast Group		2,945
	1,112,728	*	Continental Airlines, Inc (Class B)		27,640
	725,085		Con-way, Inc		22,470

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	174,311		Copa Holdings S.A. (Class A)	$	9,397
	4,183,975		COSCO Holdings		4,729
	2,766,000		COSCO Pacific Ltd		4,164
	1,986,968		CSX Corp		109,918
	293,000		CWT Ltd		212
	31,096		D/S Norden		1,231
	173,000	*	Daiichi Chuo Kisen Kaisha		419
	74,000		Dalian Port PDA Co Ltd		31
	4,078,717	*	Delta Air Lines, Inc		47,475
	1,770,781		Deutsche Lufthansa AG.		32,553
	1,992,743		Deutsche Post AG.		36,144
	3,785	*	Dfds AS		255
	132,691	*	Dollar Thrifty Automotive Group, Inc		6,653
	267,633		DSV AS		5,463
	74,259	*	Dynamex, Inc		1,132
	259,383	*	Eagle Bulk Shipping, Inc		1,354
	724,976		East Japan Railway Co		43,770
	239,278	*	easyJet plc		1,390
	1,000	*	Eitzen Chemical ASA		0	^
	1,892,520	*	Eva Airways Corp		1,648
	608,500		Evergreen International Storage & Transport Corp		503
	1,550,722	*	Evergreen Marine Corp Tawain Ltd		1,097
	271,131	*	Excel Maritime Carriers Ltd		1,524
	506,170		Expeditors International Washington, Inc		23,400
	1,325,254		FedEx Corp		113,310
	807,503		Firstgroup plc		4,602
	20,644		Flughafen Wien AG.		1,195
	5,788		Flughafen Zuerich AG.		2,103
	191,464	*,b,m	FLYi, Inc		1
	63,724		Forth Ports plc		1,380
	126,367		Forward Air Corp		3,286
	1,735		Fraport AG. Frankfurt Airport Services Worldwide		106
	206,789		Freightways Ltd		448
	348,000		Fukuyama Transporting Co Ltd		1,793
	2,247,929	*	Gemina S.p.A.		1,563
	136,758	*	Genco Shipping & Trading Ltd		2,180
	165,893	*	Genesee & Wyoming, Inc (Class A)		7,198
	7,268	f	Globaltrans Investment plc (ADR)		110
	16,000		GLOVIS Co Ltd		2,140
	78,003		Go-Ahead Group plc		1,375
	143,762		Gol Linhas Aereas Inteligentes S.A.		2,205
	433,000		Golden Ocean Group Ltd		600
	398,000		Goodpack Ltd		578
	358,397		Groupe Eurotunnel S.A.		3,047
	675,991		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		2,333
	4,000,000		Guangshen Railway Co Ltd		1,490
	125,700		Hamburger Hafen und Logistik AG.		4,892
	60,052		Hargreaves Services plc		642
	274,756	*	Hawaiian Holdings, Inc		1,646
	330,746		Heartland Express, Inc		4,918
	1,111,957	*	Hertz Global Holdings, Inc		11,776

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	82,900		Hitachi Transport System Ltd	$	1,253
	58,000		Hong Kong Aircraft Engineerg		1,061
	7,585		Hopewell Highway Infrastructure Ltd		6
	155,505		Horizon Lines, Inc (Class A)		653
	219,985	*	Hub Group, Inc (Class A)		6,437
	80,371	*	Iberia Lineas Aereas de Espana		310
	107,757		Iino Kaiun Kaisha Ltd		576
	83,700		International Container Term Services, Inc		73
	38,681		International Shipholding Corp		1,092
	27,900		Inui Steamship Co Ltd		154
	603,183		J.B. Hunt Transport Services, Inc		20,930
	520,535	*,b,m	Japan Airlines Corp		6
	52,855		Japan Airport Terminal Co Ltd		874
	450,500		Jasa Marga PT		162
	67,510	*	Jaypee Infratech Ltd		140
	89,500		Jazz Air Income Fund		405
	2,706,969	*	JetBlue Airways Corp		18,110
	3,310,000		Jiangsu Express		3,468
	511,310		Kamigumi Co Ltd		3,797
	690,533	*	Kansas City Southern Industries, Inc		25,833
	1,363,833	*	Kawasaki Kisen Kaisha Ltd		5,130
	378,964		Keihin Electric Express Railway Co Ltd		3,663
	468,302		Keio Corp		3,220
	223,625		Keisei Electric Railway Co Ltd		1,436
	1,291,358		Kintetsu Corp		4,362
	19,900		Kintetsu World Express, Inc		469
	259,518	*	Kirby Corp		10,397
	261,472		Knight Transportation, Inc		5,054
	101,285		Koninklijke Vopak NV		4,834
	52,283	*	Korean Air Lines Co Ltd		3,558
	45,039		Kuehne & Nagel International AG.		5,408
	294,948		Lan Airlines S.A.		8,663
	295,291		Landstar System, Inc		11,404
	389,505	*	LLX Logistica S.A.		2,132
	153,192		Localiza Rent A CAR		2,576
	1,188,558		Macquarie Airports		3,354
	1,175,696	*	Macquarie Atlas Roads Group		1,773
	3,156,749		Macquarie Infrastructure Group		4,546
	107,654		Mainfreight Ltd		556
	69,400		Malaysia Airports Holdings Bhd		129
	1,157,466	*	Malaysian Airline System BHD		874
	64,878		Marten Transport Ltd		1,504
	146,000		Maruzen Showa Unyu Co Ltd		493
	241,301		Mermaid Marine Australia Ltd		644
	2,296	*,m	Minoan Lines S.A.		11
	1,500,000		MISC Bhd		4,247
	89,643		Mitsubishi Logistics Corp		1,075
	949,360		Mitsui OSK Lines Ltd		5,970
	123,610		Mitsui-Soko Co Ltd		455
	1,381,022		MTR Corp		5,224
	605,926	*	National Express Group plc		2,306
	798,599	*	Neptune Orient Lines Ltd		1,202

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	780,834		Nippon Express Co Ltd	$	2,965
	138,000		Nippon Konpo Unyu Soko Co Ltd		1,680
	2,949,976		Nippon Yusen Kabushiki Kaisha		12,086
	478,714		Nishi-Nippon Railroad Co Ltd		2,059
	96,000		Nissin Corp		217
	1,781,072		Norfolk Southern Corp		105,991
	184,208	*	Northgate plc		627
	29,133	*	Norwegian Air Shuttle AS		459
	1,474	f	Novorossiysk Commercial Sea Port (ADR)		14
	506,921		Odakyu Electric Railway Co Ltd		4,688
	49,235		Oesterreichische Post AG.		1,474
	192,853	*	Old Dominion Freight Line		4,902
	287,906		Orient Overseas International Ltd		2,297
	199,017	*	Pacer International, Inc		1,202
	3,286,911		Pacific Basin Shipping Ltd		2,372
	14,505	*	PAM Transportation Services, Inc		182
	19,516		Panalpina Welttransport Holding AG.		2,145
	34,440	*	Park-Ohio Holdings Corp		458
	8,351	*	Patriot Transportation Holding, Inc		586
	90,807	*	Pinnacle Airlines		493
	10,200		Piraeus Port Authority		184
	3,405,400		PLUS Expressways BHD		4,600
	7,464,301	*	Qantas Airways Ltd		20,129
	19,653	*	Quality Distribution, Inc		125
	88,415	*	RailAmerica, Inc		851
	142,281	*	Republic Airways Holdings, Inc		1,178
	56,698	*	Roadrunner Transportation Services Holdings, Inc		615
	55,719		Ryanair Holdings plc		298
	33,163		Ryanair Holdings plc (ADR)		1,022
	472,963		Ryder System, Inc		20,229
	455,000		Sagami Railway Co Ltd		2,017
	83,836	*	Saia, Inc		1,252
	96	*,m	SAir Group		0	^
	370,000		Sankyu, Inc		1,449
	232,067	*	SAS AB		861
	23,564		SAVE S.p.A.		230
	344,000		Seino Holdings Corp		2,081
	140,000		Senko Co Ltd		426
	196,000		Shenzhen Expressway Co Ltd		103
	90,000		Shibusawa Warehouse Co Ltd		330
	118,000		Shinwa Kaiun Kaisha Ltd		321
	1,440,000		Shun TAK Holdings Ltd		924
	314,190		Singapore Airlines Ltd		3,899
	970,968		Singapore Airport Terminal Services Ltd		2,104
	3,761,423		Singapore Post Ltd		3,489
	10,161		Sixt AG.		374
	19,786		Sixt AG. (Preference)		513
	261,443		Skywest, Inc		3,650
	1,406,000		SMRT Corp Ltd		2,192
	136,016		Societa Iniziative Autostradali e Servizi S.p.A.		1,294
	3,117,025		Southwest Airlines Co		40,740
	1,330,305		Stagecoach Group plc		3,808

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,100		Stolt-Nielsen S.A.	$	668
	136,240		STX Pan Ocean Co Ltd		1,446
	284,767		Sumitomo Warehouse Co Ltd		1,426
	102,170		Tam S.A.		2,313
	3,757	*	Tam S.A. (ADR)		82
	379,000	*	Tiger Airways Holdings Ltd		582
	2,001,958		TNT NV		53,792
	659,407		Tobu Railway Co Ltd		3,799
	1,244,468		Tokyu Corp		5,501
	750,996		Toll Holdings Ltd		4,791
	111,056		TransForce, Inc		1,124
	377,282		Transurban Group		1,812
	639,810		Turk Hava Yollari		2,610
	1,024,780	*	UAL Corp		24,216
	96,645	*	Ultrapetrol Bahamas Ltd		620
	1,566,700		U-Ming Marine Transport Corp		3,079
	2,910,068		Union Pacific Corp		238,043
	6,023,639		United Parcel Service, Inc (Class B)		401,717
	46,078		Universal Truckload Services, Inc		722
	811,202	*	US Airways Group, Inc		7,504
	36,321	*	USA Truck, Inc		544
	1,070,956		UTI Worldwide, Inc		17,221
	131		Vantec Corp		197
	3,682,465	*	Virgin Blue Holdings Ltd		1,548
	23,971		VTG AG.		433
	21,222	*	Vueling Airlines S.A.		275
	1,267,670	*	Wan Hai Lines Ltd		883
	209,754		Werner Enterprises, Inc		4,298
	6,154		West Japan Railway Co		22,071
	101,500		Westshore Terminals Income Fund		2,043
	20,323		Wilh Wilhelmsen ASA		392
	168,472		Wincanton plc		611
	4,500,000		Xiamen International Port Co Ltd		847
	391,646		Yamato Transport Co Ltd		4,738
	1,557,212		Yang Ming Marine Transport		999
	3,050	*	YRC Worldwide, Inc		1
	23,200		Yusen Air & Sea Service Co Ltd		330
	3,154,000		Zhejiang Expressway Co Ltd		2,976
			TOTAL TRANSPORTATION		2,218,981
UTILITIES - 3.7%
	48,459		A2A S.p.A.		74
	20,226		Acciona S.A.		1,708
	1,859,437		ACEA S.p.A.		21,001
	51,867		Actelios S.p.A.		176
	3,204,555	*	AES Corp		36,372
	3,918,082		AES Gener S.A.		2,171
	150,744		AES Tiete S.A.		2,013
	326,675		AGL Energy Ltd		5,106
	170,120		AGL Resources, Inc		6,526
	224,535		Alerion Industries S.p.A.		156
	171,325		Algonquin Power & Utilities Corp		763

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	507,623		Allegheny Energy, Inc	$	12,447
	136,013		Allete, Inc		4,955
	333,275		Alliant Energy Corp		12,115
	925,755		Ameren Corp		26,291
	80,926	*	American DG Energy, Inc		241
	2,424,196		American Electric Power Co, Inc		87,829
	80,303		American States Water Co		2,873
	690,695		American Water Works Co, Inc		16,073
	1,010,147		APA Group		3,954
	290,535		Aqua America, Inc		5,927
	30,851		Artesian Resources Corp		588
	129,867		Ascopiave S.p.A.		294
	90,345		Atco Ltd		4,742
	46,573		Athens Water Supply & Sewage Co S.A.		316
	85,734		Atlantic Power Corp		1,186
	287,273		Atmos Energy Corp		8,403
	294,947		Avista Corp		6,158
	348,364		Babcock & Brown Infrastructure Group		1,478
	1,052,761		Babcock & Brown Wind Partners		748
	44,905,000	*	Beijing Enterprises Water Group Ltd		15,222
	193,268		Black Hills Corp		6,030
	32,402		Boralex Power, Income Fund		159
	41,395	*	Boralex, Inc		328
	64,259	*	Cadiz, Inc		659
	83,927		California Water Service Group		3,101
	1,756,999	*	Calpine Corp		21,875
	213,505		Canadian Utilities Ltd		10,346
	30,200		Capital Power Corp		707
	9,614,240		Centerpoint Energy, Inc		151,136
	376,910		Centrais Eletricas Brasileiras S.A.		4,803
	525,824		Centrais Eletricas Brasileiras S.A. (Preference)		7,894
	95,550		Central Vermont Public Service Corp		1,927
	26,058,241		Centrica plc		132,424
	307,724		CEZ		13,779
	69,172		CH Energy Group, Inc		3,055
	244,853		Challenger Infrastructure Fund		289
	63,541		Chesapeake Utilities Corp		2,301
	546,539		Cheung Kong Infrastructure Holdings Ltd		2,170
	2,900,000	*	China Longyuan Power Group Corp		2,878
	7,394,000		China Resources Gas Group Ltd		10,883
	2,578,599		China Resources Power Holdings Co		5,543
	2,117,848		China Water Affairs Group Ltd		764
	4,980,000	*	China WindPower Group Ltd		565
	1,019,432		Chubu Electric Power Co, Inc		25,193
	311,683		Chugoku Electric Power Co, Inc		6,149
	51,524		Cia de Transmissao de Energia Electrica Paulista		1,582
	324,991		Cleco Corp		9,626
	1,721,320		CLP Holdings Ltd		13,744
	1,866,845		CMS Energy Corp		33,641
	10,391,019		Colbun S.A.		2,965
	197,773		Companhia de Saneamento Basico do Estado de Sao Paulo		4,430

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	578,837		Companhia Energetica de Minas Gerais	$	9,391
	234,471		Companhia Energetica de Sao Paulo (Class B)		3,506
	157,719		Companhia Paranaense de Energia		3,472
	174,087	*	Conergy AG.		142
	36,204		Connecticut Water Service, Inc		867
	610,009		Consolidated Edison, Inc		29,415
	72,199		Consolidated Water Co, Inc		684
	1,201,032		Constellation Energy Group, Inc		38,721
	952,464	*	Contact Energy Ltd		3,955
	145,673		CPFL Energia S.A.		3,332
	8,476,000		Datang International Power Generation Co Ltd		3,539
	1,645,663		Dominion Resources, Inc		71,850
	362,182		DPL, Inc		9,464
	628,172		Drax Group plc		3,782
	643,195		DTE Energy Co		29,542
	1,875,330		DUET Group		3,154
	3,231,696		Duke Energy Corp		57,233
	488,553	*	Dynegy, Inc (Class A)		2,379
	1,016,241		E.ON AG.		29,966
	1,374,278		Edison International		47,261
	89,651		EDP - Energias do Brasil S.A.		1,939
	177,733	*	EDP Renovaveis S.A.		1,006
	225,166	*	El Paso Electric Co		5,354
	91,206		Electric Power Development Co		2,742
	227,067		Electricite de France		9,794
	313,552		Eletropaulo Metropolitana de Sao Paulo S.A.		5,596
	172,685		Empire District Electric Co		3,480
	5,121,168		Empresa Nacional de Electricidad S.A.		9,265
	7,928		Enagas		161
	4,105,679		Enel S.p.A.		21,885
	418,811		Energen Corp		19,148
	1,916,935		Energias de Portugal S.A.		6,570
	114,225		Energy Savings Income Fund		1,625
	1,024,060	*	Energy World Corp Ltd		416
	21,521,654		Enersis S.A.		10,146
	860,266		Entergy Corp		65,836
	1,921,370		Envestra Ltd		947
	116,037	*	EOS Russia AB		687
	732,000	*	Epure International Ltd		479
	2,581,792		Exelon Corp		109,933
	9,270,900	*	First Gen Corp		2,797
	812,615		FirstEnergy Corp		31,318
	234,171		Fortis, Inc		7,269
	5,002,357		Fortum Oyj		130,866
	785,987		GAIL India Ltd		8,353
	496,153		Gas Natural SDG S.A.		7,396
	2,707,185		Gaz de France		96,914
	275,252	*	Geodynamics Ltd		141
	1,995,900		Glow Energy PCL		2,811
	1,407,661	*	GMR Infrastructure Ltd		1,779
	72,829		Great Lakes Hydro Income Fund		1,475

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	284,027		Great Plains Energy, Inc	$	5,368
	63,156	*	Greentech Energy Systems		245
	6,740,000		Guangdong Investments Ltd		3,518
	1,455,916	*	GVK Power & Infrastructure Ltd		1,507
	1,034,035		Hastings Diversified Utilities Fund		1,374
	213,105		Hawaiian Electric Industries, Inc		4,803
	757,827		Hera S.p.A.		1,445
	148,167		Hokkaido Electric Power Co, Inc		2,950
	143,088		Hokuriku Electric Power Co		3,267
	2,127,159		Hong Kong & China Gas Ltd		5,384
	2,332,170		Hong Kong Electric Holdings Ltd		14,172
	10,522,000		Huaneng Power International, Inc		6,550
	512,000		Hyflux Ltd		1,211
	698,452		Iberdrola Renovables		2,321
	2,419,152		Iberdrola S.A.		18,610
	238,754		Idacorp, Inc		8,576
	1,124,409		Infratil Ltd		1,468
	71,823		Innergex Renewable Energy, Inc		660
	308,339		Integrys Energy Group, Inc		16,052
	485,243		Interconexion Electrica S.A.		3,798
	9,982,582		International Power plc		60,845
	913,047		Iride S.p.A.		1,580
	105,121		ITC Holdings Corp		6,544
	153		Japan Wind Development Co Ltd		200
	1,864,730		Kansai Electric Power Co, Inc		45,278
	360,170	*	Korea Electric Power Corp		9,287
	47,719		Korea Gas Corp		2,044
	377,080		Kyushu Electric Power Co, Inc		8,609
	136,851		Laclede Group, Inc		4,710
	34,000		Macquarie Power & Infrastructure Income Fund		241
	260,400	*	Magma Energy Corp		294
	614,560		Manila Electric Co		3,151
	888,095		MDU Resources Group, Inc		17,717
	115,558		MGE Energy, Inc		4,575
	59,375		Middlesex Water Co		1,000
	406,505	*	Mirant Corp		4,049
	166,071		National Fuel Gas Co		8,604
	1,785,100		National Grid plc		15,143
	220,237		New Jersey Resources Corp		8,638
	3,553,882		NextEra Energy, Inc		193,296
	245,098		Nicor, Inc		11,230
	1,157,360		NiSource, Inc		20,138
	1,818,389		Northeast Utilities		53,770
	50,959		Northland Power Income Fund		769
	983,144		Northumbrian Water Group plc		5,137
	135,027		Northwest Natural Gas Co		6,407
	162,994		NorthWestern Corp		4,645
	2,781,675	*	NRG Energy, Inc		57,914
	218,642		NSTAR		8,604
	1,369,297		NTPC Ltd		6,611
	2,399,309		NV Energy, Inc		31,551
	7,744		Oest Elektrizitatswirts AG. (Class A)		278
	404,885		OGE Energy Corp		16,143

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	46,300		Okinawa Electric Power Co, Inc	$	2,155
	302,106		Oneok, Inc		13,607
	42,719		Ormat Technologies, Inc		1,246
	4,337,648		Osaka Gas Co Ltd		15,640
	156,663		Otter Tail Corp		3,194
	448,000	*	Pan-Electric Industries		0	^
	558,072		Pennon Group plc		5,098
	540,930		Pepco Holdings, Inc		10,061
	929,500		Petronas Gas BHD		3,282
	2,621,749		PG&E Corp		119,080
	393,798		Piedmont Natural Gas Co, Inc		11,420
	530,923		Pinnacle West Capital Corp		21,911
	397,001		PNM Resources, Inc		4,522
	10,545,750		PNOC Energy Development Corp		1,463
	452,878		Polska Grupa Energetyczna S.A.		3,661
	347,195		Portland General Electric Co		7,041
	13,578	*	Poweo		168
	2,657,257		PPL Corp		72,357
	633,322		Progress Energy, Inc		28,132
	16,190,000		PT Perusahaan Gas Negara		6,984
	296,611		Public Power Corp		4,622
	5,462,494		Public Service Enterprise Group, Inc		180,700
	1,988,347		Questar Corp		34,857
	357,271		Red Electrica de Espana		16,801
	204,588		Redes Energeticas Nacionais S.A.		746
	146,548		Reliance Energy Ltd		3,487
	1,066,802	*	Reliance Natural Resources Ltd		918
	7,820,273	*	Reliant Energy, Inc		27,762
	17,239		Rubis		1,764
	711,872	*	RusHydro (ADR)		3,666
	1,124,909	*	RusHydro-SP ADR		5,793
	57,886		RWE A.G.		3,910
	2,132		RWE A.G. (Preference)		136
	533,000		Saibu Gas Co Ltd		1,551
	358,319		SCANA Corp		14,447
	47,421		Scottish & Southern Energy plc		833
	23,693		Sechilienne-Sidec		656
	2,866,867		Sempra Energy		154,237
	602,929		Severn Trent plc		12,417
	143,140		Shikoku Electric Power Co, Inc		4,107
	92,500		Shizuoka Gas Co Ltd		540
	60,894		SJW Corp		1,500
	2,309,946		Snam Rete Gas S.p.A.		11,699
	130,861		South Jersey Industries, Inc		6,474
	1,876,610		Southern Co		69,885
	257,439		Southwest Gas Corp		8,647
	1,066,035		SP AusNet		886
	1,391,405	f,g	Spark Infrastructure Group		1,486
	397,544	*,g,m	Spark Infrastructure Limited Placement		40
	148,372		Suez Environnement S.A.		2,741
	200,456		Tata Power Co Ltd		6,046
	1,917,812	*	Tauron Polska Energia S.A.		4,031

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	651,058		TECO Energy, Inc	$	11,276
	3,509,375		Tenaga Nasional BHD		10,027
	47,811		Terna Energy S.A.		180
	7,210,502		Terna Rete Elettrica Nazionale S.p.A.		30,644
	332,502	*	Theolia SA		567
	38,415		Thessaloniki Water Supply & Sewage Co S.A.		204
	714,000		Toho Gas Co Ltd		3,532
	425,329		Tohoku Electric Power Co, Inc		9,405
	50,000		Tokai Corp		237
	1,816,971		Tokyo Electric Power Co, Inc		44,314
	6,637,177		Tokyo Gas Co Ltd		30,133
	198,832		Tractebel Energia S.A.		2,975
	247,834		TransAlta Corp		5,290
	348,576		Transfield Services Infrastructure Fund		226
	602,910		UGI Corp		17,249
	256,673		UIL Holdings Corp		7,228
	197,668		Unisource Energy Corp		6,608
	273,306		United Utilities Group plc		2,460
	61,964		Unitil Corp		1,360
	647,534		Vector Ltd		1,083
	166,600		Vectren Corp		4,310
	241,104		Veolia Environnement		6,350
	248,443		Westar Energy, Inc		6,020
	272,217		WGL Holdings, Inc		10,284
	455,484		Wisconsin Energy Corp		26,327
	3,627,624		Xcel Energy, Inc		83,327
	1,134,000		Xinao Gas Holdings Ltd		3,259
	55,878		York Water Co		896
	1,755,793		YTL Corp BHD		4,266
	2,934,390		YTL Power International		2,177
			TOTAL UTILITIES		3,661,537
			TOTAL COMMON STOCKS		98,983,956
			(Cost $90,756,316)
PREFERRED STOCKS - 0.0%
AUTOMOBILES & COMPONENTS - 0.0%
	722,689	*,b	Motors Liquidation Co		5,615
			TOTAL AUTOMOBILES & COMPONENTS		5,615
DIVERSIFIED FINANCIALS - 0.0%
	370,000		Daishin Securities Co Ltd Pref 2		2,927
			TOTAL DIVERSIFIED FINANCIALS		2,927
FOOD BEVERAGE & TOBACCO - 0.0%
	248,615	*	Ambev Cia De Bebidas Das		30,130
			TOTAL FOOD BEVERAGE & TOBACCO		30,130
REAL ESTATE - 0.0%
	92,180	*	Goodman PLUS Trust		6,673
			TOTAL REAL ESTATE		6,673

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
TRANSPORTATION - 0.0%
	1,366	*	Malaysian Airline System BHD	$	0	^
			TOTAL TRANSPORTATION		0	^
			TOTAL PREFERRED STOCKS		45,345
			(Cost $38,133)
RIGHTS / WARRANTS - 0.0%
AUTOMOBILES & COMPONENTS - 0.0%
	168,796		Cie Generale des Etablissements Michelin		471
			TOTAL AUTOMOBILES & COMPONENTS		471
BANKS - 0.0%
	193,826		Bank of Cyprus Public Co Ltd		119
	157,448		Mediobanca S.p.A. CW11		5
	935,106		National Bank of Greece S.A.		841
	966,793		National Bank of Greece S.A.		474
	61,978		Unione di Banche Italiane SCPA		1
			TOTAL BANKS		1,440
CAPITAL GOODS - 0.0%
	298,000	m	Chigo Holding Ltd		121
	249,662		Gamuda Berhad CW		115
	6	m	GreenHunter Energy, Inc		0	^
	132,237		IJM Corp Berhad - Warrants		56
			TOTAL CAPITAL GOODS		292
CONSUMER SERVICES - 0.0%
	19,056		KFC Holdings Malaysia Bhd		8
	23,136		Krispy Kreme Doughnuts, Inc - CW12		1
	15,410		Minor International PCL Warrants		2
			TOTAL CONSUMER SERVICES		11
DIVERSIFIED FINANCIALS - 0.0%
	469,035	m	Deutsche Bank AG.		2,270
			TOTAL DIVERSIFIED FINANCIALS		2,270
ENERGY - 0.0%
	123,722		Etablissements Maurel et Prom CW14		27
	23,624	m	Felix Resources Ltd		32
	6,446		Naphtha Israel Petroleum Corp Ltd		14
			TOTAL ENERGY		73
MATERIALS - 0.0%
	139,727	m	Duro Felguera S.A.		713
	11,425		Ivanhoe Australia Ltd		3
	49,071		Kinross Gold Corp		210
			TOTAL MATERIALS		926

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
REAL ESTATE - 0.0%
	2,800		Fonciere Des Regions CW10	$	4
	4,761,352	m	GPT Group		0	^
	57,590		Henderson Land Development Co Ltd Warrant		17
	66,140		IJM Land BHD		22
	274,711	m	Mapletree Logistics Trust		11
	58,593	m	Songbird Estates plc		21
	81,625		SP Setia BHD CW13		15
			TOTAL REAL ESTATE		90
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	94,480		Q-Cells SE		124
	94,480		Q-Cells SE		0	^
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		124
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	110,777		Kingboard Chemical Holdings Ltd (CW)		69
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		69
TRANSPORTATION - 0.0%
	116,200	m	Ezra Holdings Ltd		46
			TOTAL TRANSPORTATION		46
			TOTAL RIGHTS / WARRANTS		5,812
			(Cost $1,141)

PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 6.7%
GOVERNMENT AGENCY DEBT - 0.2%
			Federal Home Loan Bank (FHLB)
$	10,000,000		FHLB	10/01/10	10,000
	71,700,000		FHLB	10/20/10	71,698
	78,300,000		Federal Home Loan Bank (FHLB)	11/30/10	78,285
			TOTAL GOVERNMENT AGENCY DEBT		159,983
TREASURY DEBT - 0.0%
	13,000,000		United States Treasury Bill	11/12/10	12,998
			TOTAL TREASURY DEBT		12,998
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 6.5%
REPURCHASE AGREEMENTS - 4.9%
	90,000,000	1	Barclay Capital		90,000
	272,000,000	2	BNP		272,000
	517,000,000	3	Calyon		517,000
	314,000,000	4	CSFB		314,000
	127,000,000	5	Deutsche Bank		127,000
	69,661,000	6	Deutsche Bank		69,661
	400,000,000	7	HSBC		400,000
	60,000,000	8	ING		60,000
	200,000,000	9	JP Morgan Chase & Co		200,000
	229,000,000	10	Morgan Stanley		229,000

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
$	1,000,000,000	11	Nomura Securities	$	1,000,000
	300,000,000	12	RBC Capital Markets		300,000
	408,000,000	13	Royal Bank of Scotland		408,000
	268,000,000	14	Salomon Brothers		268,000
	652,000,000	15	UBS Warburg		652,000
			TOTAL REPURCHASE AGREEMENTS		4,906,661
VARIABLE RATE SECURITY - 1.6%
	82,000,000		American Express Credit Account Master		81,990
	58,000,000		American Express Credit Account Master		58,093
	85,000,000		American Express Credit Account Master		85,097
	64,000,000		BA Credit Card Trust		63,975
	25,000,000		Bank One Issuance Trust		24,994
	43,525,000		Capital One Multi-Asset Execution Trust		43,424
	32,000,000		Chase Issuance Trust 2006		31,994
	17,000,000		Chase Issuance Trust 2007		16,996
	51,000,000		Chase Issuance Trust 2007		50,859
	110,000,000		Citibank Credit Card Issuance Trust		110,224
	68,000,000		Discover Card Master Trust 2003		68,005
	102,000,000		Discover Card Master Trust 2005		101,982
	30,544,886		GE Equipment Midticket LLC		30,506
	20,600,000		General Electric Cap Corp		20,606
	110,000,000		General Electric Cap Corp		110,344
	17,000,000		General Electric Cap Corp		17,012
	25,119,539		Granite Master Issuer plc 2006		23,411
	19,861,949		Granite Master Issuer plc 2007		18,511
	9,872,680		Medallion Trust Series 2005		9,527
	65,611,632		Nelnet Student Loan Trust 2006		65,448
	34,251,971		Nelnet Student Loan Trust 2007		34,138
	135,000,000		Permanent Master Issuer plc		132,618
	23,433,150		Puma Global Mortgage Backed Trust		22,132
	29,035,570		SLM Student Loan Trust 2006		29,016
	170,000,000		SLM Student Loan Trust 2007		162,597
	43,000,000		SLM Student Loan Trust 2008		43,162
	32,501,999		Wachovia Student Loan Trust 2005		32,477
			TOTAL VARIABLE RATE SECURITY		1,489,138
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		6,395,799
			TOTAL SHORT-TERM INVESTMENTS		6,568,780
			(Cost $6,579,606)
			TOTAL INVESTMENTS - 106.2%		105,684,933
			(Cost $97,461,812)
			OTHER ASSETS & LIABILITIES, NET - (6.2)%		(6,149,711)
			NET ASSETS - 100.0%	$	99,535,222

154

	Abbreviation(s):
ADR	American Depositary Receipt
ADS	American Depository Shares
MTN	Medium Term Note
REIT	Real Estate Investment Trust
SPDR	Standard & Poor’s Depository Receipts

*	Non-income producing.
^	Amount represents less than $1,000.
a	Affiliated holding
b	In bankruptcy
f	Restricted security
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, 2010 the value of these securities amounted to $2,484 or 0.00% of net assets.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
m	Indicates a security that has been deemed illiquid.
n	In default
1	Agreement with Barclays Capital, 0.25% dated 9/30/10 to be repurchased at $90,001,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $91,800,000.
2	Agreement with BNP, 0.23% dated 9/30/10 to be repurchased at $272,002,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $277,440,000.
3	Agreement with Calyon, 0.23% dated 9/30/10 to be repurchased at $517,003,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $527,340,000.
4	Agreement with CSFB, 0.22% dated 9/30/10 to be repurchased at $314,001,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $320,282,000.
5	Agreement with Deutsche Bank, 0.23% dated 9/30/10 to be repurchased at $127,001,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $129,540,000.
6	Agreement with Deutsche Bank, 0.20% dated 9/30/10 to be repurchased at $69,661,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $71,055,000.
7	Agreement with HSBC, 0.24% dated 9/30/10 to be repurchased at $400,003,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $408,003,000.
8	Agreement with ING, 0.28% dated 9/30/10 to be repurchased at $60,005,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $61,205,000.
9	Agreement with JP Morgan Chase & Co, 0.13% dated 9/30/10 to be repurchased at $200,003,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $204,003,000.
10	Agreement with Morgan Stanley, 0.21% dated 9/30/10 to be repurchased at $229,001,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $233,580,000.
11	Agreement with Nomura Securities, 0.32% dated 9/30/10 to be repurchased at $1,000,000,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $1,020,000,000.
12	Agreement with RBC Capital Markets, 0.05% dated 9/30/10 to be repurchased at $300,000,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $306,000,000.
13	Agreement with Royal Bank of Scotland, 0.06% dated 9/30/10 to be repurchased at $408,001,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $416,161,000.
14	Agreement with Salomon Brothers, 0.25% dated 9/30/10 to be repurchased at $268,002,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $273,360,000.
15	Agreement with UBS, 0.15% dated 9/30/10 to be repurchased at $652,003,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $665,043,000.
	Cost amounts are in thousands.

155

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2010

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
BONDS - 0.4%
CORPORATE BONDS - 0.4%
UNITED STATES - 0.4%
$	29,845,445	n	General Motors Corp	7.200	%	01/15/11	$	9,625
	13,592,224	n	General Motors Corp	7.130		07/15/13		4,383
	3,106,794	n	General Motors Corp	7.700		04/15/16		971
	4,461,000	n	General Motors Corp	9.400		07/15/21		1,394
	61,921,000	n	General Motors Corp	8.380		07/15/33		20,898
	19,417,463	n	Motors Liquidation Co	8.800		03/01/21		6,068
	5,850,000	n	Motors Liquidation Co	8.250		07/15/23		1,887
	18,159,000	n	Motors Liquidation Co	7.400		09/01/25		5,720
	26,439,985	n	Motors Liquidation Co	6.750		05/01/28		8,196
			TOTAL UNITED STATES					59,142
			TOTAL CORPORATE BONDS (Cost $63,267)					59,142
			TOTAL BONDS (Cost $63,267)					59,142

SHARES			COMPANY
COMMON STOCKS - 98.4%
ARGENTINA - 0.0%
	86,589		Tenaris S.A.	1,661
			TOTAL ARGENTINA	1,661
AUSTRALIA - 3.9%
	216,651		AGL Energy Ltd	3,386
	1,106,240		Alumina Ltd	1,935
	573,107		Amcor Ltd	3,606
	997,195		AMP Ltd	4,925
	159,260		Aristocrat Leisure Ltd	543
	2,214,731	*	Asciano Group	3,532
	1,339,540		Australia & New Zealand Banking Group Ltd	30,659
	82,596		Australian Stock Exchange Ltd	2,600
	525,982		AXA Asia Pacific Holdings Ltd	2,613
	139,758		Bendigo Bank Ltd	1,236
	1,786,910		BHP Billiton Ltd	67,202
	71,279		Billabong International Ltd	549
	798,937		BlueScope Steel Ltd	1,699
	292,316		Boral Ltd	1,302

156

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	595,602		Brambles Ltd	$	3,610
	53,909		Caltex Australia Ltd		625
	721,078		CFS Gandel Retail Trust		1,321
	1,544,637		Challenger Financial Services Group Ltd		6,315
	312,967		Coca-Cola Amatil Ltd		3,624
	20,561		Cochlear Ltd		1,396
	780,539		Commonwealth Bank of Australia		38,604
	214,684		Computershare Ltd		2,023
	182,281		Crown Ltd		1,478
	257,939		CSL Ltd		8,240
	622,665		CSR Ltd		1,083
	13,627	*	Dart Energy Ltd		16
	1,958,972		DB RREEF Trust		1,619
	44,310	*	DuluxGroup Ltd		117
	23,545		Energy Resources of Australia Ltd		303
	33,095		First Quantum Minerals Ltd		2,517
	451,354	*	Fortescue Metals Group Ltd		2,273
	679,975		Foster’s Group Ltd		4,029
	547,002		Goodman Fielder Ltd		690
	721,680		GPT Group (ASE)		2,051
	209,171		Harvey Norman Holdings Ltd		762
	703,909		Incitec Pivot Ltd		2,443
	985,362		Insurance Australia Group Ltd		3,467
	173,379	*	James Hardie Industries NV		938
	844,738		John Fairfax Holdings Ltd		1,196
	67,047		Leighton Holdings Ltd		2,142
	265,190		Lend Lease Corp Ltd		1,951
	2,223,052		MacArthur Coal Ltd		25,204
	295,896		Macquarie Airports		835
	24,024	*	Macquarie Atlas Roads Group		36
	2,465,145		Macquarie Goodman Group		1,537
	163,615	*	Macquarie Group Ltd		5,736
	929,370		Macquarie Infrastructure Group		1,338
	314,197		Metcash Ltd		1,327
	1,461,027		Mirvac Group		1,878
	1,599,382		National Australia Bank Ltd		39,173
	254,991		Newcrest Mining Ltd		9,777
	7,574		Nufarm Ltd		26
	590,323		OneSteel Ltd		1,672
	173,518		Orica Ltd		4,312
	421,982		Origin Energy Ltd		6,465
	1,554,083		Oxiana Ltd		2,186
	279,668	*	Paladin Resources Ltd		970
	1,949		Perpetual Trustees Australia Ltd		57
	4,103,251	*	Qantas Airways Ltd		11,065
	533,611		QBE Insurance Group Ltd		8,902
	397,888		Rio Tinto Ltd		29,524
	394,388		Santos Ltd		4,883
	66,238		Sims Group Ltd		1,129
	134,091		Sonic Healthcare Ltd		1,426
	539,027		SP AusNet		448
	1,139,475		Stockland Trust Group		4,229

157

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	629,485		Suncorp-Metway Ltd	$	5,476
	249,099		TABCORP Holdings Ltd		1,685
	506,148		Tattersall’s Ltd		1,169
	2,121,513		Telstra Corp Ltd		5,372
	334,038		Toll Holdings Ltd		2,131
	591,429		Transurban Group		2,841
	480,674		Wesfarmers Ltd		15,280
	55,242		Wesfarmers Ltd PPS		1,767
	2,879,141		Westfield Group		34,117
	1,671,615		Westpac Banking Corp		37,549
	265,349		Woodside Petroleum Ltd		11,254
	627,393		Woolworths Ltd		17,488
	80,423		WorleyParsons Ltd		1,730
			TOTAL AUSTRALIA		522,614
AUSTRIA - 0.2%
	180,100		bwin Interactive Entertainment		9,341
	36,981		Erste Bank der Oesterreichischen Sparkassen AG.		1,481
	128,122	*	IMMOFINANZ Immobilien Anlagen AG.		478
	14,745		Oest Elektrizitatswirts AG. (Class A)		529
	27,992		OMV AG.		1,048
	9,690		Raiffeisen International Bank Holding AG.		452
	64,815		Telekom Austria AG.		975
	20,578		Voestalpine AG.		758
	8,032		Wiener Staedtische Allgemeine Versicherung AG.		432
	514,100	*	Wienerberger AG.		8,456
			TOTAL AUSTRIA		23,950
BELGIUM - 0.6%
	40,157	*	Anheuser-Busch InBev NV		0	^
	10,000		Bekaert S.A.		2,639
	37,270		Belgacom S.A.		1,453
	4,848		Colruyt S.A.		1,281
	18,170		Delhaize Group		1,318
	108,767	*	Dexia		479
	4,000		D’ieteren S.A.		2,239
	427,677		Fortis		1,224
	15,899		Groupe Bruxelles Lambert S.A.		1,325
	477	*	Groupe Bruxelles Lambert S.A. - STR VVPR		0	^
	1,145,884		InBev NV		67,406
	31,220	*	KBC Groep NV		1,400
	5,026		Mobistar S.A.		308
	6,015		Nationale A Portefeuille		314
	11,895		Solvay S.A.		1,269
	97,503		Telenet Group Holding NV		3,271
	19,160		UCB S.A.		664
	19,979		Umicore		864
			TOTAL BELGIUM		87,454
BERMUDA - 0.0%
	20,300		Allied World Assurance Holdings Ltd		1,149
	58,405		Validus Holdings Ltd		1,540
			TOTAL BERMUDA		2,689

158

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
BRAZIL - 0.6%
	252,151		Banco Bradesco S.A. (ADR)	$	5,139
	296,854		Banco do Brasil S.A.		5,637
	70,000	*	Banco Itau Holding Financeira S.A.		1,674
	264,100		Banco Santander Brasil S.A.		3,559
	262,841		Banco Santander Brasil S.A. (ADR)		3,619
	825,000		BM&FBOVESPA S.A.		6,899
	87,053		Companhia de Saneamento Basico do Estado de Sao Paulo (ADR)		3,962
	46,338		Companhia Paranaense de Energia		1,020
	150,870		Companhia Vale do Rio Doce (ADR)		4,718
	279,300		Fleury S.A.		3,466
	180,200	*	Hypermarcas S.A.		2,800
	78,240	*	Itau Unibanco Banco Multiplo S.A. (ADR)		1,892
	148,300		Multiplan Empreendimentos Imobiliarios S.A.		3,147
	292,900		OGX Petroleo e Gas Participacoes S.A.		3,817
	625,400		PDG Realty SA		7,448
	637,721		Petroleo Brasileiro S.A. (ADR)		23,130
			TOTAL BRAZIL		81,927
CANADA - 4.2%
	68,137		Agnico-Eagle Mines Ltd		4,844
	170,323		Agrium, Inc (Toronto)		12,780
	159,797		Alimentation Couche Tard, Inc		3,574
	53,535		ARC Energy Trust		1,069
	2,283		Astral Media, Inc		86
	69,305	*	Athabasca Oil Sands Corp		697
	245,142		Bank of Montreal		14,171
	508,086		Bank of Nova Scotia		27,120
	430,347		Barrick Gold Corp		19,921
	642,324		Barrick Gold Corp (Canada)		29,685
	211,146		BCE, Inc		6,871
	101,900	*	Biovail Corp		2,570
	595,032		Bombardier, Inc		2,921
	23,040		Bonavista Energy Trust		535
	211,629		Brookfield Asset Management, Inc		5,977
	103,128		CAE, Inc		1,064
	157,909		Cameco Corp		4,389
	172,029		Canadian Imperial Bank of Commerce/Canada		12,481
	265,298		Canadian National Railway Co		16,967
	560,861		Canadian Natural Resources Ltd (Canada)		19,400
	98,011		Canadian Oil Sands Trust		2,425
	97,803		Canadian Pacific Railway Ltd		5,975
	31,460		Canadian Tire Corp Ltd		1,752
	34,666		Canadian Utilities Ltd		1,680
	348,213	*	Celestica, Inc		2,935
	391,398		Cenovus Energy, Inc		11,256
	413,722	*	CGI Group, Inc		6,229
	179,666		CI Financial Corp		3,623
	378,664		Crescent Point Energy Corp		13,952

159

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	62,335	*,m	Crescent Point Energy Corp 144A	$	2,297
	208,910		Eldorado Gold Corp		3,862
	11,767		Empire Co Ltd		630
	157,627		Enbridge, Inc		8,256
	298,780		EnCana Corp		9,028
	72,907		Enerplus Resources Fund		1,878
	54,530		Ensign Energy Services, Inc		669
	8,213		Fairfax Financial Holdings Ltd		3,345
	70,317		Finning International, Inc		1,635
	70,694		Fortis, Inc		2,195
	46,910		Franco-Nevada Corp		1,476
	20,742		George Weston Ltd		1,592
	46,298	*	Gildan Activewear, Inc		1,302
	294,990		Goldcorp, Inc		12,816
	117,316		Great-West Lifeco, Inc		2,903
	9,400		Groupe Aeroplan, Inc		115
	50,000		Home Capital Group, Inc		2,162
	105,370		Husky Energy, Inc		2,562
	140,720		IAMGOLD Corp		2,492
	48,803		IGM Financial, Inc		1,983
	122,683		Imperial Oil Ltd		4,649
	33,189		Industrial Alliance Insurance and Financial Services, Inc		1,019
	20,351		Inmet Mining Corp		1,134
	93,700	*	Ivanhoe Mines Ltd		2,198
	435,955		Kinross Gold Corp		8,178
	44,404		Loblaw Cos Ltd		1,760
	42,741		Magna International, Inc (Class A)		3,507
	1,000		Manitoba Telecom Services, Inc		27
	718,362		Manulife Financial Corp		9,062
	94,458		Metro, Inc		4,098
	1,498	*	Midnight Oil Exploration Ltd		11
	66,913		National Bank of Canada		4,223
	296,694		Nexen, Inc		5,969
	18,676		Niko Resources Ltd		1,838
	38,669		Onex Corp		1,087
	23,449	*	Open Text Corp		1,106
	39,972		Pan American Silver Corp		1,178
	174,128		Penn West Energy Trust		3,490
	29,973		PetroBakken Energy Ltd		672
	35,579	*	Petrobank Energy & Resources Ltd		1,447
	20,000	*	Potash Corp of Saskatchewan		2,881
	154,091		Potash Corp of Saskatchewan Toronto		22,088
	143,371		Power Corp Of Canada		3,734
	102,017		Power Financial Corp		2,885
	71,599		ProEx Energy Ltd		812
	106,113		Provident Energy Trust		753
	200,506	*	Research In Motion Ltd (Canada)		9,763
	47,117		RioCan Real Estate Investment Trust		1,050
	39,930		Ritchie Bros Auctioneers, Inc		826
	193,768		Rogers Communications, Inc (Class B)		7,252
	695,735		Royal Bank of Canada (Toronto)		36,237
	59,815		Saputo, Inc		2,042

160

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	143,821	*	Shaw Communications, Inc (B Shares)	$	3,167
	118,334		Sherritt International Corp		921
	89,171		Shoppers Drug Mart Corp		3,466
	118,917	*	Silver Wheaton Corp		3,167
	98,886	*	Sino-Forest Corp		1,647
	62,408		SNC-Lavalin Group, Inc		3,190
	233,213		Sun Life Financial, Inc		6,102
	811,826		Suncor Energy, Inc		26,432
	110,737		Suncor Energy, Inc (NY)		3,604
	409,703		Talisman Energy, Inc		7,168
	198,171		Teck Cominco Ltd		8,151
	23,146		TELUS Corp		1,029
	59,457		TELUS Corp, non-voting shares		2,520
	150,181		Thomson Corp (Toronto)		5,646
	61,812		Tim Hortons, Inc		2,251
	62,243		Tim Hortons, Inc (Toronto)		2,267
	30,714		TMX Group, Inc		944
	399,001		Toronto-Dominion Bank		28,871
	89,002		TransAlta Corp		1,900
	298,058		TransCanada Corp		11,057
	6,116		Trican Well Service Ltd		98
	15,781		Vermilion Energy Trust		592
	146,860	*	Viterra, Inc		1,282
	295,192		Yamana Gold, Inc		3,365
	102,769		Yellow Pages Income Fund		553
			TOTAL CANADA		576,513
CHINA - 0.5%
	4,328,000	*	Agricultural Bank of China		2,242
	2,000,000	*	Air China Ltd		2,763
	75,000	*	Baidu, Inc (ADR)		7,697
	20,500,000	*	Beijing Enterprises Water Group Ltd		6,949
	1,602,948		BOC Hong Kong Holdings Ltd		5,082
	428,000		China Aoyuan Property Group Ltd		71
	3,977,847		China Coal Energy Co		6,583
	690,000		China Life Insurance Co Ltd - H		2,726
	1,000,000		China Resources Gas Group Ltd		1,472
	10,947,000		China South Locomotive and Rolling Stock Corp		10,355
	1,277,000		CNOOC Ltd		2,475
	79,000		Glorious Property Holdings Ltd		23
	4,171,000		KWG Property Holding Ltd		3,199
	7,500,000		Lenovo Group Ltd		4,630
	392,464	*	Melco PBL Entertainment Macau Ltd (ADR)		1,998
	3,496,000	*	Microport Scientific Corp		3,898
	630,000		Shandong Weigao Group Medical Polymer Co Ltd		1,794
	4,427,000		Sino-Ocean Land Holdings Ltd		3,075
	3,245,000	*,m	SITC International Co Ltd		1,999
	1,200,000		Yanzhou Coal Mining Co Ltd		2,945
	420,000		Zhuzhou CSR Times Electric Co Ltd		1,348
			TOTAL CHINA		73,324

161

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
COLOMBIA - 0.0%
	37,000		BanColombia S.A. (ADR)	$	2,428
	88,429	*	Pacific Rubiales Energy Corp (Toronto)		2,486
			TOTAL COLOMBIA		4,914
CYPRUS - 0.0%
	111,503		Bank of Cyprus Public Co Ltd		562
			TOTAL CYPRUS		562
CZECH REPUBLIC - 0.0%
	215,000		New World Resources NV		2,472
			TOTAL CZECH REPUBLIC		2,472
DENMARK - 0.4%
	113		AP Moller - Maersk AS (Class A)		919
	244		AP Moller - Maersk AS (Class B)		2,040
	19,493		Carlsberg AS (Class B)		2,032
	199,801	*	Christian Hansen Holding		4,035
	4,255		Coloplast AS (Class B)		509
	88,039	*	Danske Bank AS		2,124
	107,687		DSV AS		2,198
	2,780		H Lundbeck A/s		49
	385,256		Novo Nordisk AS (Class B)		38,231
	9,313		Novozymes AS (B Shares)		1,185
	672	*	Topdanmark AS		85
	5,560		TrygVesta A.S.		334
	40,283	*	Vestas Wind Systems AS		1,518
	3,943	*	William Demant Holding		291
			TOTAL DENMARK		55,550
FINLAND - 0.4%
	25,155		Elisa Oyj (Series A)		578
	951,995		Fortum Oyj		24,906
	11,696		Kesko Oyj (B Shares)		549
	40,295		Kone Oyj (Class B)		2,082
	24,308		Metso Oyj		1,114
	25,375		Neste Oil Oyj		396
	614,207		Nokia Oyj		6,171
	23,171		Nokian Renkaat Oyj		796
	24,817		OKO Bank (Class A)		302
	11,590		Orion Oyj (Class B)		231
	21,625		Outokumpu Oyj		430
	17,908		Rautaruukki Oyj		370
	81,000		Sampo Oyj (A Shares)		2,187
	15,199		Sanoma-WSOY Oyj		322
	113,424		Stora Enso Oyj (R Shares)		1,121
	94,906		UPM-Kymmene Oyj		1,626
	53,718		Wartsila Oyj (B Shares)		3,506
			TOTAL FINLAND		46,687

162

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
FRANCE - 4.0%
	98,296		Accor S.A.	$	3,589
	1,885,858	*	Accor Services		37,355
	6,302		Aeroports de Paris		514
	24,383	*	Air France-KLM		374
	40,090		Air Liquide		4,891
	454,033	*	Alcatel S.A.		1,529
	38,521		Alstom RGPT		1,965
	350,533	*	Atos Origin S.A.		15,846
	327,644		AXA S.A.		5,728
	2,048		BioMerieux		212
	748,623		BNP Paribas		53,243
	34,362		Bouygues S.A.		1,475
	9,559		Bureau Veritas S.A.		667
	28,347		Cap Gemini S.A.		1,422
	112,087		Carrefour S.A.		6,023
	9,650		Casino Guichard Perrachon S.A.		884
	8,990		Christian Dior S.A.		1,175
	27,916		CNP Assurances		519
	52,882		Compagnie de Saint-Gobain		2,352
	27,621	*	Compagnie Generale de Geophysique S.A.		606
	1	*	Compagnie Generale de Geophysique-Veritas (ADR)		0	^
	39,450		Compagnie Generale d’Optique Essilor International S.A.		2,714
	180,831		Credit Agricole S.A.		2,826
	11,108		Dassault Systemes S.A.		817
	8,505		Eiffage S.A.		404
	50,835		Electricite de France		2,193
	1,024		Eramet		303
	5,135		Eurazeo		345
	84,609		Eutelsat Communications		3,230
	4,705		Fonciere Des Regions		501
	272,716		France Telecom S.A.		5,893
	370,219		Gaz de France		13,253
	3,194		Gecina S.A.		379
	291,331		Gemalto NV		11,956
	376,263		Groupe Danone		22,505
	66,587		Groupe Eurotunnel S.A.		566
	7,621		Hermes International		1,740
	4,104		ICADE		431
	2,444		Iliad S.A.		255
	6,664		Imerys S.A.		399
	4,109		Ipsen		136
	626,788	*	JC Decaux S.A.		16,547
	17,953		Klepierre		692
	39,456		Lafarge S.A.		2,260
	16,618		Lagardere S.C.A.		649
	22,567		Legrand S.A.		763
	37,353		L’Oreal S.A.		4,200
	127,157		LVMH Moet Hennessy Louis Vuitton S.A.		18,653
	7,263		M6-Metropole Television		171
	23,638		Michelin (C.G.D.E.) (Class B)		1,798
	157,521	*	Natixis		902
	6,590		Neopost S.A.		490
	18,126		PagesJaunes Groupe S.A.		190

163

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	34,251		Pernod-Ricard S.A.	$	2,860
	532,640	*	Peugeot S.A.		17,910
	12,941		PPR		2,095
	18,472		Publicis Groupe S.A.		877
	35,106	*	Renault S.A.		1,806
	132,245		Safran S.A.		3,717
	651,312		Sanofi-Aventis		43,396
	255,871		Schneider Electric S.A.		32,443
	30,979		SCOR		740
	5,247		Societe BIC S.A.		421
	1,065		Societe Des Autoroutes Paris-Rhin-Rhone		79
	767,898		Societe Generale		44,229
	14,079		Societe Television Francaise 1		219
	13,823		Sodexho Alliance S.A.		897
	37,629		Suez Environnement S.A.		695
	80,621		Technip S.A.		6,483
	18,869		Thales S.A.		690
	881,773		Total S.A.		45,445
	17,413		Unibail		3,861
	232,400	*	Valeo S.A.		10,767
	495,262		Vallourec		49,198
	51,578		Veolia Environnement		1,358
	79,868		Vinci S.A.		4,004
	335,465		Vivendi Universal S.A.		9,169
			TOTAL FRANCE		541,889
GERMANY - 3.2%
	85,797		Adidas-Salomon AG.		5,311
	674,210		Aixtron AG.		20,037
	123,523		Allianz AG.		13,960
	487,242		BASF AG.		30,723
	399,695		Bayer AG.		27,871
	157,770		Bayerische Motoren Werke AG.		11,064
	448		Bayerische Motoren Werke AG. (Preference)		21
	203,142		Beiersdorf AG.		12,434
	17,494		Celesio AG.		381
	141,360	*	Commerzbank AG.		1,172
	7,733	*	Continental AG.		601
	1,108,293		DaimlerChrysler AG. (EUR)		70,195
	104,622		Deutsche Bank AG.		5,726
	87,957		Deutsche Boerse AG.		5,869
	42,319		Deutsche Lufthansa AG.		778
	157,738		Deutsche Post AG.		2,861
	16,662	*	Deutsche Postbank AG.		567
	765,298		Deutsche Telekom AG.		10,469
	329,504		E.ON AG.		9,716
	6,712		Fraport AG. Frankfurt Airport Services Worldwide		408
	15,764		Fresenius AG. (Preference)		1,273
	38,632		Fresenius Medical Care AG.		2,386
	4,901		Fresenius SE		392
	23,590		GEA Group AG.		590
	1,147		Hamburger Hafen und Logistik AG.		45

164

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	12,190		Hannover Rueckversicherung AG.	$	561
	25,760		HeidelbergCement AG.		1,241
	24,246		Henkel KGaA		1,098
	32,782		Henkel KGaA (Preference)		1,761
	6,334		Hochtief AG.		548
	1,544,163	*	Infineon Technologies AG.		10,696
	28,345		K+S AG.		1,697
	79,414	*	Kabel Deutschland Holding GmbH		3,150
	477,529		Lanxess AG.		26,162
	50,495		Linde AG.		6,573
	15,824		MAN AG.		1,725
	70,001		Merck KGaA		5,880
	23,318		Metro AG.		1,518
	135,668		Muenchener Rueckver AG.		18,791
	16,525		Porsche AG.		818
	95,967		ProSiebenSat.1 Media AG.		2,280
	756		Puma AG. Rudolf Dassler Sport		249
	60,000		Rheinmetall AG.		3,967
	75,915		RWE A.G.		5,128
	3,645		RWE A.G. (Preference)		232
	7,999		Salzgitter AG.		518
	574,710		SAP AG.		28,428
	595,841		Siemens AG.		62,896
	484		Solarworld AG.		6
	226,820	*	Stroer Out-of-Home Media AG.		6,725
	11,943		Suedzucker AG.		267
	135,875		ThyssenKrupp AG.		4,431
	25,436	*	TUI AG.		311
	14,945		United Internet AG.		242
	5,766		Volkswagen AG.		635
	25,847		Volkswagen AG. (Preference)		3,119
	15,190		Wacker Chemie AG.		2,803
			TOTAL GERMANY		439,306
GIBRALTAR - 0.1%
	1,890,898	*	PartyGaming plc		8,183
			TOTAL GIBRALTAR		8,183
GREECE - 0.0%
	92,623	*	Alpha Bank S.A.		581
	34,536		Coca Cola Hellenic Bottling Co S.A.		911
	63,265	*	EFG Eurobank Ergasias S.A.		381
	4,318		Hellenic Petroleum S.A.		33
	35,120		Hellenic Telecommunications Organization S.A.		253
	33,635		Marfin Investment Group S.A		36
	119,099	*	National Bank of Greece S.A.		1,164
	42,792		OPAP S.A.		677
	67,050	*	Piraeus Bank S.A.		332
	18,160		Public Power Corp		283
	2,719		Titan Cement Co S.A.		55
			TOTAL GREECE		4,706

165

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
GUERNSEY, C.I. - 0.0%
	83,800	*	Amdocs Ltd	$	2,402
			TOTAL GUERNSEY, C.I.		2,402
HONG KONG - 1.2%
	69,558		ASM Pacific Technology		620
	549,805		Bank of East Asia Ltd		2,328
	1,215,237		Cathay Pacific Airways Ltd		3,297
	737,696		Cheung Kong Holdings Ltd		11,180
	158,661		Cheung Kong Infrastructure Holdings Ltd		630
	5,670		Chinese Estates Holdings Ltd		9
	875,521		CLP Holdings Ltd		6,991
	485,193		Esprit Holdings Ltd		2,633
	344,000		Hang Lung Group Ltd		2,246
	894,493		Hang Lung Properties Ltd		4,369
	333,293		Hang Seng Bank Ltd		4,901
	474,273		Henderson Land Development Co Ltd		3,377
	1,943,166		Hong Kong & China Gas Ltd		4,919
	608,364		Hong Kong Electric Holdings Ltd		3,697
	702,598		Hong Kong Exchanges and Clearing Ltd		13,837
	210,717		Hopewell Holdings		682
	2,012,110		Hutchison Whampoa Ltd		18,776
	222,482		Hysan Development Co Ltd		797
	259,927		Kerry Properties Ltd		1,414
	3,474,502		Li & Fung Ltd		19,546
	206,500		Lifestyle International Holdings Ltd		510
	1,189,989		Link Real Estate Investment Trust		3,528
	1,075,000	*	Mongolia Energy Co ltd		446
	635,813		MTR Corp		2,405
	1,102,779		New World Development Ltd		2,223
	1,078,267		Noble Group Ltd		1,550
	311,000		NWS Holdings Ltd		610
	77,364		Orient Overseas International Ltd		617
	1,311,749		PCCW Ltd		475
	30,430,000		Rexcapital Financial Holdings Ltd		2,902
	9,606,000		RUINIAN INTERNATIONAL Ltd		8,047
	924,000		Shanghai Real Estate Ltd		95
	471,377		Shangri-La Asia Ltd		1,073
	622,801		Sino Land Co		1,289
	2,500,000		SJM Holdings Ltd		2,855
	28,673,611		Solomon Systech International Ltd		1,811
	627,248		Sun Hung Kai Properties Ltd		10,832
	316,204		Swire Pacific Ltd (Class A)		4,357
	100,177		Television Broadcasts Ltd		572
	259,000	*	Trony Solar Holdings Co Ltd.		150
	592,375		Wharf Holdings Ltd		3,810
	333,000		Wheelock & Co Ltd		1,114
	65,626		Wing Hang Bank Ltd		787
	261,589		Yue Yuen Industrial Holdings		969
			TOTAL HONG KONG		159,276

166

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
INDIA - 0.3%
	150,000		Adani Enterprises Ltd	$	2,213
	475,177		Bank of India		5,472
	285,379		Dhanalakshmi Bank Ltd		1,182
	17,121		Dr Reddy’s Laboratories Ltd		549
	58,850		Engineers India Ltd		457
	1,221,502		Geodesic Information Systems Ltd		2,534
	5,416		HDFC Bank Ltd		300
	1,619		ICICI Bank Ltd		40
	110,000		ICICI Bank Ltd (ADR)		5,484
	35,000		Infosys Technologies Ltd		2,376
	48,000		Infosys Technologies Ltd (ADR)		3,231
	120,000		Punjab National Bank Ltd		3,454
	49,474	f	Puravankara Projects Ltd		142
	500,000		Rajesh Exports Ltd		1,099
	25,381		Sobha Developers Ltd		216
	80,000		Sun Pharmaceuticals Industries Ltd		3,597
	61,502		Tata Consultancy Services Ltd		1,269
	66,365		Tata Power Co Ltd		2,002
	16,963		Vedanta Resources plc		577
			TOTAL INDIA		36,194
INDONESIA - 0.1%
	7,000,000		Adaro Energy Tbk		1,588
	1,000,000		Bank Rakyat Indonesia		1,120
	741,063		PT Astra International Tbk		4,708
	3,850,000		PT Kalbe Farma Tbk		1,100
	3,500,000		PT Perusahaan Gas Negara		1,510
	2,000,000		PT Semen Gresik Persero Tbk		2,218
			TOTAL INDONESIA		12,244
IRELAND - 0.4%
	142,188		Accenture plc		6,042
	147,992	*,m	Anglo Irish Bank Corp plc		44
	472,812	*	Bank of Ireland		400
	128,773		CRH plc		2,114
	7,402		CRH plc (IRELAND)		121
	66,449	*	Elan Corp plc		374
	27,332	*	Elan Corp plc (ADR)		157
	26,542		Kerry Group plc (Class A)		931
	48,799		Ryanair Holdings plc		261
	2,741		Ryanair Holdings plc (ADR)		84
	1,369,765		Shire Ltd		30,856
	94,567		Shire plc (ADR)		6,362
	404,997	*	Smurfit Kappa Group plc		4,070
			TOTAL IRELAND		51,816
ISRAEL - 0.2%
	134,857	*	Bank Hapoalim Ltd		617
	161,721	*	Bank Leumi Le-Israel		751
	228,028		Bezeq Israeli Telecommunication Corp Ltd		568
	6,159		Cellcom Israel Ltd		188
	500		Delek Group Ltd		137

167

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,445		Discount Investment Corp	$	49
	3,252		Elbit Systems Ltd		173
	62,593		Israel Chemicals Ltd		883
	309	*	Israel Corp Ltd		295
	69,078	*	Israel Discount Bank Ltd		137
	36,503		Makhteshim-Agan Industries Ltd		135
	15,385		Mizrahi Tefahot Bank Ltd		143
	8,348	*	Nice Systems Ltd		257
	10,585		Ormat Industries		87
	10,101		Partner Communications		187
	127,806		Teva Pharmaceutical Industries Ltd		6,940
	342,057		Teva Pharmaceutical Industries Ltd (ADR)		18,044
			TOTAL ISRAEL		29,591
ITALY - 0.9%
	166,186		A2A S.p.A.		255
	228,506		ACEA S.p.A.		2,581
	229,161		Assicurazioni Generali S.p.A.		4,614
	18,773	*	Autogrill S.p.A.		235
	49,532		Autostrade S.p.A.		1,026
	125,947		Banca Carige S.p.A.		293
	1,511,995		Banca Intesa S.p.A.		4,911
	173,899		Banca Intesa S.p.A. RSP		448
	445,885		Banca Monte dei Paschi di Siena S.p.A.		618
	72,538		Banca Popolare di Milano		346
	117,543		Banche Popolari Unite Scpa		1,139
	126,614		Banco Popolare Scarl		758
	7,368		Beni Stabili S.P.A. (Paris)		7
	952,358		Enel S.p.A.		5,076
	631,867		ENI S.p.A.		13,636
	11,295		Exor S.p.A.		262
	140,835		Fiat S.p.A.		2,173
	81,838		Finmeccanica S.p.A.		972
	2,895		Fondiaria-Sai S.p.A.		29
	3,331		Italcementi S.p.A.		29
	2,148		Lottomatica S.p.A.		33
	20,930		Luxottica Group S.p.A.		572
	133,384		Mediaset S.p.A.		946
	95,034		Mediobanca S.p.A.		884
	40,830		Mediolanum S.p.A.		182
	370,524		Parmalat S.p.A.		951
	45,435		Pirelli & C S.p.A.		370
	876,532		Prysmian S.p.A.		16,012
	1,072,084		Saipem S.p.A.		42,939
	13,407		Saras S.p.A.		26
	207,182		Snam Rete Gas S.p.A.		1,049
	7,161,536		Telecom Italia RSP		8,069
	1,552,677		Telecom Italia S.p.A.		2,170
	188,569		Terna Rete Elettrica Nazionale S.p.A.		801
	2,566,037		UniCredito Italiano S.p.A.		6,552
	34,384		Unipol Gruppo Finanziario S.p.A.		25
			TOTAL ITALY		120,989

168

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
JAPAN - 8.6%
	124,083		77 Bank Ltd	$	629
	9,100		ABC-Mart, Inc		280
	15,352		Acom Co Ltd		232
	66,542		Advantest Corp		1,324
	246,509		Aeon Co Ltd		2,646
	31,803		Aeon Credit Service Co Ltd		342
	33,100		Aeon Mall Co Ltd		805
	52,000		Air Water, Inc		618
	77,842	*	Aisin Seiki Co Ltd		2,428
	239,529		Ajinomoto Co, Inc		2,344
	15,657		Alfresa Holdings Corp		668
	306,862	*	All Nippon Airways Co Ltd		1,136
	968,744		Amada Co Ltd		6,638
	2,458,848		Aozora Bank Ltd		3,623
	139,307		Asahi Breweries Ltd		2,787
	554,298		Asahi Glass Co Ltd		5,651
	525,859		Asahi Kasei Corp		2,898
	55,000		Asics Corp		561
	184,041		Astellas Pharma, Inc		6,647
	119,653		Bank of Kyoto Ltd		970
	441,971		Bank of Yokohama Ltd		2,065
	29,282		Benesse Corp		1,410
	252,304		Bridgestone Corp		4,597
	98,500		Brother Industries Ltd		1,217
	145,500		Canon Electronics, Inc		3,716
	25,064	*	Canon Marketing Japan, Inc		345
	573,397		Canon, Inc		26,753
	96,323		Casio Computer Co Ltd		714
	613		Central Japan Railway Co		4,509
	573,323		Chiba Bank Ltd		3,345
	235,000		Chiyoda Corp		1,923
	269,666		Chubu Electric Power Co, Inc		6,664
	93,558		Chugai Pharmaceutical Co Ltd		1,719
	62,100		Chugoku Bank Ltd		755
	122,992		Chugoku Electric Power Co, Inc		2,427
	88,642		Citizen Watch Co Ltd		532
	22,771		Coca-Cola West Japan Co Ltd		384
	241,343		Cosmo Oil Co Ltd		630
	55,183		Credit Saison Co Ltd		738
	233,138		Dai Nippon Printing Co Ltd		2,846
	97,630		Daicel Chemical Industries Ltd		657
	112,698	*	Daido Steel Co Ltd		548
	77,290	*	Daihatsu Motor Co Ltd		1,034
	2,881		Dai-ichi Mutual Life Insurance Co		3,479
	281,679		Daiichi Sankyo Co Ltd		5,729
	95,446		Daikin Industries Ltd		3,590
	27,000		Dainippon Ink and Chemicals, Inc		48
	64,963		Dainippon Sumitomo Pharma Co Ltd		544
	32,711		Daito Trust Construction Co Ltd		1,955
	196,856		Daiwa House Industry Co Ltd		1,981

169

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	611,355	*	Daiwa Securities Group, Inc	$	2,468
	31,800		Dena Co Ltd		1,001
	194,676		Denki Kagaku Kogyo KK		837
	175,045		Denso Corp		5,190
	67,855		Dentsu, Inc		1,572
	67,700		Don Quijote Co Ltd		1,681
	101,318		Dowa Holdings Co Ltd		603
	122,352		East Japan Railway Co		7,387
	102,517		Eisai Co Ltd		3,585
	49,839		Electric Power Development Co		1,499
	71,908	*	Elpida Memory, Inc		827
	25,444		FamilyMart Co Ltd		912
	74,043	*	Fanuc Ltd		9,428
	86,118		Fast Retailing Co Ltd		12,132
	201,822	*	Fuji Electric Holdings Co Ltd		529
	259,784		Fuji Folms Holdings Corp		8,604
	241,342	*	Fuji Heavy Industries Ltd		1,538
	196		Fuji Television Network, Inc		250
	1,039,406		Fujitsu Ltd		7,296
	288,167		Fukuoka Financial Group, Inc		1,153
	866,458		Furukawa Electric Co Ltd		3,259
	152,110		GS Yuasa Corp		1,070
	146,774		Gunma Bank Ltd		768
	154,842		Hachijuni Bank Ltd		809
	9,565		Hakuhodo DY Holdings, Inc		463
	937		Hamamatsu Photonics KK		31
	464,720		Hankyu Hanshin Holdings, Inc		2,232
	92,182	*	Hino Motors Ltd		445
	13,251		Hirose Electric Co Ltd		1,335
	185,744		Hiroshima Bank Ltd		757
	27,600		Hisamitsu Pharmaceutical Co, Inc		1,127
	42,252		Hitachi Chemical Co Ltd		789
	34,922		Hitachi Construction Machinery Co Ltd		755
	28,100		Hitachi High-Technologies Corp		518
	5,800,685	*	Hitachi Ltd		25,362
	67,000		Hitachi Metals Ltd		789
	76,382		Hokkaido Electric Power Co, Inc		1,521
	465,481		Hokuhoku Financial Group, Inc		853
	74,475		Hokuriku Electric Power Co		1,700
	936,668		Honda Motor Co Ltd		33,246
	180,717	*	Hoya Corp		4,405
	113,472	*	Ibiden Co Ltd		2,880
	8,947		Idemitsu Kosan Co Ltd		767
	810		Inpex Holdings, Inc		3,813
	321,381		Isetan Mitsukoshi Holdings Ltd		3,338
	489,716		Ishikawajima-Harima Heavy Industries Co Ltd		939
	483,169	*	Isuzu Motors Ltd		1,864
	23,237		Ito En Ltd		382
	1,060,623		Itochu Corp		9,707
	11,962		Itochu Techno-Science Corp		391
	88,912		Iyo Bank Ltd		721
	179,392		J Front Retailing Co Ltd		834

170

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	11,266	*	Jafco Co Ltd	$	266
	11,500		Japan Petroleum Exploration Co		433
	267		Japan Prime Realty Investment Corp		588
	201		Japan Real Estate Investment Corp		1,827
	641	*	Japan Retail Fund Investment Corp		902
	327,428		Japan Steel Works Ltd		3,083
	1,784		Japan Tobacco, Inc		5,939
	188,904		JFE Holdings, Inc		5,777
	85,142		JGC Corp		1,478
	236,624		Joyo Bank Ltd		1,032
	104,908		JS Group Corp		2,057
	75,059		JSR Corp		1,278
	725,595		JTEKT Corp		6,684
	968		Jupiter Telecommunications Co		1,044
	912,700	*	JX Holdings, Inc		5,292
	357,104		Kajima Corp		860
	360		Kakaku.com, Inc		2,085
	101,126		Kamigumi Co Ltd		751
	124,448		Kaneka Corp		747
	308,674		Kansai Electric Power Co, Inc		7,495
	87,480		Kansai Paint Co Ltd		745
	194,453		Kao Corp		4,738
	1,410,212		Kawasaki Heavy Industries Ltd		4,004
	277,186	*	Kawasaki Kisen Kaisha Ltd		1,043
	1,188		KDDI Corp		5,685
	193,262		Keihin Electric Express Railway Co Ltd		1,868
	241,305		Keio Corp		1,659
	111,426		Keisei Electric Railway Co Ltd		715
	14,088	*	Kenedix, Inc		2,498
	17,224		Keyence Corp		3,747
	56,795		Kikkoman Corp		627
	54,131		Kinden Corp		489
	679,914		Kintetsu Corp		2,297
	840,849		Kirin Brewery Co Ltd		11,936
	1,040,723		Kobe Steel Ltd		2,443
	35,000	*	Koito Manufacturing Co Ltd		537
	940,222		Komatsu Ltd		21,826
	33,573		Konami Corp		593
	199,342		Konica Minolta Holdings, Inc		1,944
	416,158		Kubota Corp		3,809
	128,087		Kuraray Co Ltd		1,617
	41,897		Kurita Water Industries Ltd		1,163
	66,212		Kyocera Corp		6,258
	108,486		Kyowa Hakko Kogyo Co Ltd		1,075
	158,647		Kyushu Electric Power Co, Inc		3,622
	24,551		Lawson, Inc		1,125
	6,500		Leopalace21 Corp		11
	10,816		Mabuchi Motor Co Ltd		553
	41,568	*	Makita Corp		1,318
	1,087,072		Marubeni Corp		6,146
	80,309		Marui Co Ltd		601
	18,696		Maruichi Steel Tube Ltd		358

171

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	43,600		Matsui Securities Co Ltd	$	244
	706,255		Matsushita Electric Industrial Co Ltd		9,568
	156,956		Matsushita Electric Works Ltd		2,081
	611,150		Mazda Motor Corp		1,472
	23,900		McDonald’s Holdings Co Japan Ltd		575
	59,612		Mediceo Paltac Holdings Co Ltd		758
	24,649		MEIJI Holdings Co Ltd		1,160
	302,972		Millea Holdings, Inc		8,173
	122,716		Minebea Co Ltd		632
	903,350		Mitsubishi Chemical Holdings Corp		4,588
	978,741		Mitsubishi Corp		23,225
	1,222,037		Mitsubishi Electric Corp		10,511
	480,705		Mitsubishi Estate Co Ltd		7,819
	156,160		Mitsubishi Gas Chemical Co, Inc		907
	1,093,150		Mitsubishi Heavy Industries Ltd		4,033
	45,262		Mitsubishi Logistics Corp		543
	462,186	*	Mitsubishi Materials Corp		1,329
	1,563,130	*	Mitsubishi Motors Corp		2,041
	6,218,154		Mitsubishi UFJ Financial Group, Inc		28,975
	337,600		Mitsubishi UFJ Lease & Finance Co Ltd		11,869
	786,704		Mitsui & Co Ltd		11,704
	338,087		Mitsui Chemicals, Inc		911
	253,875		Mitsui Engineering & Shipbuilding Co Ltd		575
	340,137		Mitsui Fudosan Co Ltd		5,737
	233,239		Mitsui Mining & Smelting Co Ltd		668
	1,029,906		Mitsui OSK Lines Ltd		6,477
	221,220		Mitsui Sumitomo Insurance Group Holdings, Inc		5,080
	1,913,750		Mitsui Trust Holdings, Inc		6,350
	28,422		Mitsumi Electric Co Ltd		436
	8,116,598		Mizuho Financial Group, Inc		11,862
	566,872	*	Mizuho Trust & Banking Co Ltd		475
	133,229		Murata Manufacturing Co Ltd		7,022
	70,073		Namco Bandai Holdings, Inc		650
	959,328		NEC Corp		2,551
	105,673		NGK Insulators Ltd		1,756
	63,988		NGK Spark Plug Co Ltd		856
	59,138	*	NHK Spring Co Ltd		490
	45,406		Nidec Corp		4,036
	130,381		Nikon Corp		2,418
	36,858		Nintendo Co Ltd		9,210
	214		Nippon Building Fund, Inc		1,874
	145,175		Nippon Electric Glass Co Ltd		1,979
	355,252		Nippon Express Co Ltd		1,349
	65,944		Nippon Meat Packers, Inc		807
	41,000		Nippon Paper Group, Inc		1,026
	269,041		Nippon Sheet Glass Co Ltd		587
	1,909,884		Nippon Steel Corp		6,497
	454,430		Nippon Telegraph & Telephone Corp		19,842
	614,636		Nippon Yusen Kabushiki Kaisha		2,518
	243,721		Nishi-Nippon City Bank Ltd		698
	56,355		Nissan Chemical Industries Ltd		635
	1,487,823	*	Nissan Motor Co Ltd		12,993

172

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	9,700		Nissha Printing Co Ltd	$	220
	76,618		Nisshin Seifun Group, Inc		1,007
	283,321		Nisshin Steel Co Ltd		506
	46,054		Nisshinbo Industries, Inc		462
	26,535		Nissin Food Products Co Ltd		958
	23,723		Nitori Co Ltd		1,984
	68,977		Nitto Denko Corp		2,698
	1,194,000	*	NKSJ Holdings, Inc		7,495
	42,651	*	NOK Corp		742
	1,439,763	*	Nomura Holdings, Inc		6,968
	38,574		Nomura Real Estate Holdings, Inc		548
	111		Nomura Real Estate Office Fund, Inc		616
	42,210		Nomura Research Institute Ltd		793
	164,206		NSK Ltd		1,113
	1,892,948	*	NTN Corp		8,163
	528		NTT Data Corp		1,669
	6,263		NTT DoCoMo, Inc		10,428
	474		NTT Urban Development Corp		399
	270,957		Obayashi Corp		1,078
	2,827		Obic Co Ltd		534
	254,398		Odakyu Electric Railway Co Ltd		2,353
	344,797		OJI Paper Co Ltd		1,524
	90,512		Olympus Corp		2,370
	84,702		Omron Corp		1,924
	35,466		Ono Pharmaceutical Co Ltd		1,544
	13,703		Oracle Corp Japan		652
	18,017		Oriental Land Co Ltd		1,679
	233,499		ORIX Corp		17,845
	812,846		Osaka Gas Co Ltd		2,931
	302		Osaka Securities Exchange Co Ltd		1,481
	6,387		Otsuka Corp		424
	222,100		Park24 Co Ltd		2,365
	33,716	*	Rakuten, Inc		24,678
	224,200		Resona Holdings, Inc		2,012
	751,581		Ricoh Co Ltd		10,597
	12,699		Rinnai Corp		747
	40,924		Rohm Co Ltd		2,525
	19,380		Sankyo Co Ltd		1,026
	30,756		Santen Pharmaceutical Co Ltd		1,065
	663,975	*	Sanyo Electric Co Ltd		1,098
	114,900		Sapporo Hokuyo Holdings, Inc		531
	102,795		Sapporo Holdings Ltd		481
	7,329	*	SBI Holdings, Inc		919
	87,713		Secom Co Ltd		3,961
	986,244		Sega Sammy Holdings, Inc		15,075
	48,473		Seiko Epson Corp		735
	181,271		Sekisui Chemical Co Ltd		1,097
	226,920		Sekisui House Ltd		2,039
	230,400		Senshu Ikeda Holdings, Inc		345
	313,681		Seven & I Holdings Co Ltd		7,350
	223		SEVEN BANK Ltd		399
	360,106	*	Sharp Corp		3,585
	74,500		Shikoku Electric Power Co, Inc		2,137

173

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	102,982		Shimadzu Corp	$	792
	7,897		Shimamura Co Ltd		733
	23,881		Shimano, Inc		1,264
	246,452		Shimizu Corp		912
	167,200		Shin-Etsu Chemical Co Ltd		8,142
	27,874		Shinko Electric Industries		308
	204,751		Shinko Securities Co Ltd		468
	347,320		Shinsei Bank Ltd		245
	124,873		Shionogi & Co Ltd		2,286
	125,385		Shiseido Co Ltd		2,815
	224,727		Shizuoka Bank Ltd		1,936
	573,654		Showa Denko KK		1,099
	76,573		Showa Shell Sekiyu KK		585
	21,888		SMC Corp		2,887
	336,693		Softbank Corp		11,015
	522,146	*	Sojitz Holdings Corp		938
	623,802	*	Sony Corp		19,286
	364		Sony Financial Holdings, Inc		1,186
	22,799		Square Enix Co Ltd		511
	60,735		Stanley Electric Co Ltd		968
	47,276	*	Sumco Corp		737
	655,748		Sumitomo Chemical Co Ltd		2,875
	457,963		Sumitomo Corp		5,903
	280,156		Sumitomo Electric Industries Ltd		3,416
	230,821		Sumitomo Heavy Industries Ltd		1,189
	2,382,314		Sumitomo Metal Industries Ltd		6,021
	212,464		Sumitomo Metal Mining Co Ltd		3,245
	658,379		Sumitomo Mitsui Financial Group, Inc		19,180
	150,256		Sumitomo Realty & Development Co Ltd		3,105
	69,463		Sumitomo Rubber Industries, Inc		678
	991		Sumitomo Titanium Corp		46
	903,488		Sumitomo Trust & Banking Co Ltd		4,524
	74,738		Suruga Bank Ltd		659
	27,571		Suzuken Co Ltd		913
	117,522	*	Suzuki Motor Corp		2,472
	12,100		Sysmex Corp		839
	111,598		T&D Holdings, Inc		2,326
	342,376	*	Taiheiyo Cement Corp		402
	425,136		Taisei Corp		876
	54,411		Taisho Pharmaceutical Co Ltd		1,101
	110,897		Taiyo Nippon Sanso Corp		943
	1,029,718		Takashimaya Co Ltd		7,944
	375,348		Takeda Pharmaceutical Co Ltd		17,243
	92,721		Tanabe Seiyaku Co Ltd		1,511
	51,166		TDK Corp		2,853
	3,208,807		Teijin Ltd		10,609
	62,676		Terumo Corp		3,326
	50,469		THK Co Ltd		946
	341,521		Tobu Railway Co Ltd		1,968
	42,875		Toho Co Ltd		690
	171,000		Toho Gas Co Ltd		846
	179,041		Tohoku Electric Power Co, Inc		3,959

174

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	127,693		Tokuyama Corp	$	649
	1,700		Tokyo Broadcasting System, Inc		22
	527,660		Tokyo Electric Power Co, Inc		12,869
	71,781		Tokyo Electron Ltd		3,599
	1,033,624		Tokyo Gas Co Ltd		4,693
	198,240		Tokyo Steel Manufacturing Co Ltd		2,339
	150,572		Tokyo Tatemono Co Ltd		577
	474,146		Tokyu Corp		2,096
	188,862		Tokyu Land Corp		783
	114,626		TonenGeneral Sekiyu KK		1,061
	233,540		Toppan Printing Co Ltd		1,827
	532,283		Toray Industries, Inc		2,965
	1,448,481	*	Toshiba Corp		7,010
	207,647		Tosoh Corp		560
	112,681		Toto Ltd		772
	63,355		Toyo Seikan Kaisha Ltd		1,141
	38,099		Toyo Suisan Kaisha Ltd		785
	26,397	*	Toyoda Gosei Co Ltd		582
	26,800	*	Toyota Boshoku Corp		446
	72,961	*	Toyota Industries Corp		1,948
	1,456,048	*	Toyota Motor Corp		52,291
	88,862		Toyota Tsusho Corp		1,309
	36,551	*	Trend Micro, Inc		1,091
	24,774		Tsumura & Co		770
	403,012		UBE Industries Ltd		893
	51,423		Uni-Charm Corp		2,070
	450,000		United Arrows Ltd		6,059
	76,120		UNY Co Ltd		602
	42,884		Ushio, Inc		722
	11,412		USS Co Ltd		852
	710		West Japan Railway Co		2,546
	6,089		Yahoo! Japan Corp		2,104
	39,277		Yakult Honsha Co Ltd		1,213
	29,619		Yamada Denki Co Ltd		1,838
	79,666		Yamaguchi Financial Group, Inc		751
	56,888		Yamaha Corp		660
	101,483	*	Yamaha Motor Co Ltd		1,523
	17,600		Yamato Kogyo Co Ltd		426
	166,078		Yamato Transport Co Ltd		2,009
	48,553		Yamazaki Baking Co Ltd		592
	92,384		Yaskawa Electric Corp		745
	88,210	*	Yokogawa Electric Corp		600
			TOTAL JAPAN		1,171,669
JERSEY, C.I. - 0.0%
	17,427		Randgold Resources Ltd		1,744
			TOTAL JERSEY, C.I.		1,744
KAZAKHSTAN - 0.0%
	33,700		Eurasian Natural Resources Corp		486
			TOTAL KAZAKHSTAN		486

175

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
KOREA, REPUBLIC OF - 0.4%
	100,000		Grand Korea Leisure Co Ltd	$	1,960
	200,000		Hanwha Chemical Corp		4,797
	79,240		Hanwha Corp		3,058
	13,000		Hite Brewery Co Ltd		1,448
	20,000		Hyundai Department Store Co Ltd		2,421
	7,456		Hyundai Mobis		1,681
	20,000		Hyundai Motor Co		2,684
	36,616		KB Financial Group, Inc		1,574
	70,000		Kia Motors Corp		2,259
	952,970		Korea Exchange Bank		11,533
	11,000		LG Chem Ltd		3,217
	6,800		POSCO		3,077
	11,519		Samsung Electronics Co Ltd		7,849
	21,400		Samsung Engineering Co Ltd		2,853
	27,920		Shinhan Financial Group Co Ltd		1,069
	17,500		Shinsegae Co Ltd		9,224
			TOTAL KOREA, REPUBLIC OF		60,704
LUXEMBOURG - 0.1%
	158,120	*	ArcelorMittal		5,208
	3,000,750	*	L’ Occitane International SA		8,354
	14,505		Millicom International Cellular S.A.		1,384
	57,911		SES Global S.A.		1,392
			TOTAL LUXEMBOURG		16,338
MACAU - 0.2%
	10,753,800	*,f	Sands China Ltd		19,404
	1,545,200	*	Wynn Macau Ltd		2,673
			TOTAL MACAU		22,077
MALAYSIA - 0.1%
	1,600,000		AMMB Holdings Berhad		3,074
	500,000		Genting BHD		1,607
	2,132,384	*	Genting International plc		3,016
	800,000		Public Bank BHD		3,255
	550,000		RHB Capital BHD		1,288
	13,059	*	YNH Property BHD		7
			TOTAL MALAYSIA		12,247
MEXICO - 0.1%
	91,652		America Movil S.A. de C.V. (ADR) (Series L)		4,888
	24,072		Fresnillo plc		470
	1,600,000	*	Genomma Lab Internacional S.A. de C.V.		3,076
	414,000	*	Grupo Comercial Chedraui S.a. DE C.v.		1,194
	600,000		Wal-Mart de Mexico S.A. de C.V. (Series V)		1,504
			TOTAL MEXICO		11,132
NETHERLANDS - 2.7%
	303,935	*	Aegon NV		1,821
	877,951		Akzo Nobel NV		54,163
	84,588		ASML Holding NV		2,527

176

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	84,866		Boskalis Westminster	$	3,562
	11,207		Corio NV		766
	23,274		DSM NV		1,192
	75,286		European Aeronautic Defence and Space Co		1,878
	12,862		Fugro NV		846
	21,365		Heineken Holding NV		935
	49,534		Heineken NV		2,569
	7,199,514	*	ING Groep NV		74,690
	219,401		Koninklijke Ahold NV		2,957
	1,848,256		Koninklijke Philips Electronics NV		58,091
	8,301		Koninklijke Vopak NV		396
	364,158	*	NXP Semiconductors		4,512
	44,707	*	Qiagen NV		800
	20,889	*	Randstad Holdings NV		949
	130,725		Reed Elsevier NV		1,648
	1,742,526		Royal Dutch Shell plc (A Shares)		52,447
	807,169		Royal Dutch Shell plc (B Shares)		23,546
	488,483		Royal KPN NV		7,555
	33,793		SBM Offshore NV		640
	104,924	*	Sensata Technologies Holding BV		2,073
	1,473,461		TNT NV		39,591
	510,956		Unilever NV		15,272
	240,000		Unilever NV ADR		7,171
	54,574		Wolters Kluwer NV		1,146
			TOTAL NETHERLANDS		363,743
NEW ZEALAND - 0.0%
	362,149		Auckland International Airport Ltd		545
	241,636	*	Contact Energy Ltd		1,003
	248,836		Fletcher Building Ltd		1,472
	229,880		Sky City Entertainment Group Ltd		477
	773,889		Telecom Corp of New Zealand Ltd		1,147
			TOTAL NEW ZEALAND		4,644
NORWAY - 0.4%
	21,015		Aker Kvaerner ASA		305
	178,822		DNB NOR Holding ASA		2,434
	165,835		Norsk Hydro ASA		1,001
	146,431		Orkla ASA		1,349
	102,044	*	Renewable Energy Corp AS		346
	54,039		SeaDrill Ltd		1,561
	356,953		Statoil ASA		7,447
	159,975		Telenor ASA		2,505
	507,841		Yara International ASA		22,968
			TOTAL NORWAY		39,916
PERU - 0.0%
	30,714		Credicorp Ltd (NY)		3,498
			TOTAL PERU		3,498

177

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
PHILIPPINES - 0.1%
	21,000,000		Alliance Global Group, Inc	$	4,307
	10,195,901	m	Ayala Land, Inc (Preference)		23
	2,500,000		Metropolitan Bank & Trust		3,985
			TOTAL PHILIPPINES		8,315
POLAND - 0.0%
	70,000		KGHM Polska Miedz S.A.		2,825
			TOTAL POLAND		2,825
PORTUGAL - 0.3%
	544,853		Banco Comercial Portugues S.A.		475
	111,483		Banco Espirito Santo S.A.		516
	36,415		Brisa-Auto Estradas de Portugal S.A.		235
	35,434		Cimpor Cimentos de Portugal S.A.		228
	34,507	*	EDP Renovaveis S.A.		195
	253,755		Energias de Portugal S.A.		870
	125,673		Galp Energia SGPS S.A.		2,169
	2,104,489		Jeronimo Martins SGPS S.A.		28,143
	111,084		Portugal Telecom SGPS S.A.		1,483
			TOTAL PORTUGAL		34,314
RUSSIA - 0.0%
	1		MMC Norilsk Nickel (ADR)		0	^
	225,000	f	Uralkali (GDR)		4,939
			TOTAL RUSSIA		4,939
SINGAPORE - 0.8%
	2,129,000		Allgreen Properties Ltd		1,910
	596,473		Ascendas Real Estate Investment Trust		993
	100,000	*	Avago Technologies Ltd		2,251
	1,247,394		CapitaLand Ltd		3,851
	2,070,516		CapitaMall Trust		3,385
	480,000		CapitaMalls Asia Ltd		788
	259,495		City Developments Ltd		2,518
	662,028		ComfortDelgro Corp Ltd		765
	355,584		Cosco Corp Singapore Ltd		479
	1,890,828		DBS Group Holdings Ltd		20,244
	226,526	*	Flextronics International Ltd		1,368
	844,103		Fraser and Neave Ltd		4,172
	2,351,497		Golden Agri-Resources Ltd		1,019
	441,000		Hotel Properties Ltd		929
	209,945		Jardine Cycle & Carriage Ltd		6,274
	1,061,072		Keppel Corp Ltd		7,245
	251,000		Keppel Land Ltd		773
	11,421	*	K-Green Trust		9
	318,465	*	Neptune Orient Lines Ltd		479
	553,298		Olam International Ltd		1,372
	1,202,914		Oversea-Chinese Banking Corp		8,095
	1,257,011		SembCorp Industries Ltd		4,167
	401,372		SembCorp Marine Ltd		1,199
	232,774		Singapore Airlines Ltd		2,889
	2,152		Singapore Airport Terminal Services Ltd		5
	382,811		Singapore Exchange Ltd		2,626

178

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	690,344		Singapore Press Holdings Ltd	$	2,231
	726,074		Singapore Technologies Engineering Ltd		1,855
	3,601,708		Singapore Telecommunications Ltd		8,600
	211,274		StarHub Ltd		414
	958,041		United Overseas Bank Ltd		13,346
	189,965		United Overseas Land Ltd		669
	467,000		Wilmar International Ltd		2,134
	515,000		Yangzijiang Shipbuilding		689
			TOTAL SINGAPORE		109,743
SOUTH AFRICA - 0.1%
	57,000		Kumba Iron Ore Ltd		2,968
	600,000		Sanlam Ltd		2,264
	800,000		Woolworths Holdings Ltd		3,103
			TOTAL SOUTH AFRICA		8,335
SPAIN - 1.3%
	55,728		Abertis Infraestructuras S.A.		1,039
	4,939		Acciona S.A.		417
	19,360		Acerinox S.A.		345
	28,624		ACS Actividades Cons y Servicios S.A.		1,429
	96,900	*	Amadeus IT Holding S.A.		1,783
	2,423,095		Banco Bilbao Vizcaya Argentaria S.A.		32,719
	189,674		Banco de Sabadell S.A.		950
	49,949		Banco de Valencia S.A.		285
	172,701		Banco Popular Espanol S.A.		1,095
	5,429,510		Banco Santander Central Hispano S.A.		68,962
	60,325		Bankinter S.A.		419
	81,971		Cintra Concesiones de Infraestructuras de Transporte S.A.		766
	146,835		Corp Mapfre S.A.		447
	157,303		Criteria Caixacorp S.A.		826
	25,772		Enagas		522
	7,269		Fomento de Construcciones y Contratas S.A.		201
	38,108		Gamesa Corp Tecnologica S.A.		267
	34,041		Gas Natural SDG S.A.		507
	15,967		Gestevision Telecinco S.A.		176
	25,597		Grifols S.A.		367
	126,633		Iberdrola Renovables		421
	790,637		Iberdrola S.A.		6,082
	100,657	*	Iberia Lineas Aereas de Espana		388
	228,718		Inditex S.A.		18,168
	19,576		Indra Sistemas S.A.		373
	320,000		Laboratorios Almirall S.A.		3,516
	15,359		Red Electrica de Espana		722
	142,562		Repsol YPF S.A.		3,672
	4,294	*	Sacyr Vallehermoso S.A.		26
	1,237,493		Telefonica S.A.		30,645
	30,067		Zardoya Otis S.A.		538
			TOTAL SPAIN		178,073

179

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
SWEDEN - 0.9%
	195,695		Alfa Laval AB	$	3,429
	127,320		Assa Abloy AB (Class B)		3,211
	351,564		Atlas Copco AB (A Shares)		6,786
	76,370		Atlas Copco AB (B Shares)		1,344
	224,418	*	Autoliv, Inc		14,660
	4,323,308	*	Biovitrum AB		28,799
	36,041		Boliden AB		546
	44,561		Electrolux AB (Series B)		1,097
	554,953		Ericsson (LM) (B Shares)		6,093
	147,749		Getinge AB (B Shares)		3,452
	249,309		Hennes & Mauritz AB (B Shares)		9,029
	25,351		Hexagon AB (B Shares)		544
	10,706		Holmen AB (B Shares)		330
	78,201		Husqvarna AB (B Shares)		579
	89,939		Investor AB (B Shares)		1,827
	28,535		Kinnevik Investment AB (Series B)		604
	9,947	*	Lundin Petroleum AB		84
	6,361		Modern Times Group AB (B Shares)		474
	635,974		Nordea Bank AB		6,624
	13,081		Ratos AB (B Shares)		452
	222,175		Sandvik AB		3,405
	62,272		Scania AB (B Shares)		1,375
	63,937		Securitas AB (B Shares)		689
	283,555		Skandinaviska Enskilda Banken AB (Class A)		2,103
	197,801		Skanska AB (B Shares)		3,624
	229,560		SKF AB (B Shares)		5,279
	34,476		Ssab Svenskt Stal AB (Series A)		550
	15,944		Ssab Svenskt Stal AB (Series B)		224
	114,048		Svenska Cellulosa AB (B Shares)		1,735
	95,931		Svenska Handelsbanken (A Shares)		3,144
	126,748		Swedbank AB (A Shares)		1,757
	66,829		Swedish Match AB		1,783
	176,759		Tele2 AB (B Shares)		3,711
	442,045		TeliaSonera AB		3,581
	25,534		Volvo AB (A Shares)		357
	201,499		Volvo AB (B Shares)		2,960
			TOTAL SWEDEN		126,241
SWITZERLAND - 4.3%
	358,752		ABB Ltd		7,561
	19,142	*	Actelion Ltd		767
	305,737		Adecco S.A.		15,977
	14,607		Aryzta AG.		639
	9,712		Baloise Holding AG.		876
	83,400		Bank Sarasin & Compagnie AG.		3,225
	622		Bkw Fmb Energie AG		41
	683,703		Compagnie Financiere Richemont S.A.		32,918
	1,123,891		Credit Suisse Group		48,037
	7,578		Geberit AG.		1,350
	1,420		Givaudan S.A.		1,451
	45,238		Holcim Ltd		2,906
	46,990		ING Canada, Inc		2,083
	192,531		ING Vysya Bank Ltd		1,630

180

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	503,107		Julius Baer Group Ltd	$	18,314
	30,316		Julius Baer Holding AG.		460
	24,053		Kuehne & Nagel International AG.		2,888
	174		Lindt & Spruengli AG.		417
	20		Lindt & Spruengli AG. (Reg)		559
	37,734	*	Logitech International S.A.		657
	325,787		Lonza Group AG.		27,834
	1,412,059		Nestle S.A.		75,227
	24,804		Nobel Biocare Holding AG.		446
	2,280,150		Novartis AG.		130,756
	142,500		Novartis AG. (ADR)		8,218
	4,827		Pargesa Holding S.A.		352
	1,137,631		Philip Morris International, Inc		63,729
	121,994		Phonak Holding AG.		14,898
	137,241		Roche Holding AG.		18,743
	6,959		Schindler Holding AG.		746
	2,924		Schindler Holding AG. (Reg)		312
	1,046		SGS S.A.		1,690
	264		Sika AG.		487
	126,218		STMicroelectronics NV		966
	1,447		Straumann Holding AG.		323
	6,887		Swatch Group AG.		2,591
	3,086		Swatch Group AG. Reg		213
	5,861		Swiss Life Holding		667
	51,834		Swiss Reinsurance Co		2,273
	5,038		Swisscom AG.		2,032
	39,358		Syngenta AG.		9,781
	11,785		Synthes, Inc		1,362
	327,300	*	Temenos Group AG.		10,026
	3,271,428	*	UBS A.G. (Switzerland)		55,531
	28,764		Zurich Financial Services AG.		6,741
			TOTAL SWITZERLAND		578,700
TAIWAN - 0.3%
	2,883,950		Advanced Semiconductor Engineering, Inc		2,331
	3,750,000		AU Optronics Corp		3,889
	2,004,000		Chinatrust Financial Holding Co		1,264
	2,071,870		Far Eastern Textile Co Ltd		2,852
	753,728	*	Foxconn International Holdings Ltd		554
	548,250		High Tech Computer Corp		12,442
	1,611,169		Hon Hai Precision Industry Co, Ltd		6,060
	700,000		Kinsus Interconnect Technology Corp		1,792
	1,000,000		Powertech Technology, Inc		3,217
	1,592,923		Taiwan Mobile Co Ltd		3,289
	540,665		Taiwan Semiconductor Manufacturing Co Ltd		1,073
	195,000		Taiwan Semiconductor Manufacturing Co Ltd (ADR)		1,977
	1,460,000		TSRC Corp		2,253
	1,400,000	*	Wintek Corp		2,194
			TOTAL TAIWAN		45,187

181

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

	SHARES		COMPANY	VALUE (000)
THAILAND - 0.1%
	221,887		Banpu PCL	$	5,264
	1,200,000		Charoen Pokphand Foods PCL		998
	10,950,500		Erawan Group PCL		859
	800,000		Kasikornbank PCL - NVDR		3,084
	596,868		PTT Chemical PCL		2,655
			TOTAL THAILAND		12,860
TURKEY - 0.1%
	500,000		Arcelik AS		2,748
	400,000		KOC Holding AS		1,908
	400,000		Turk Telekomunikasyon AS		1,797
	600,000		Turkiye Is Bankasi (Series C)		2,551
	700,000	*	Yapi ve Kredi Bankasi		2,420
			TOTAL TURKEY		11,424
UNITED KINGDOM - 9.9%
	191,425		3i Group plc		862
	1,512,843		Admiral Group plc		39,592
	218,253		Aggreko plc		5,383
	222,536		AMEC plc		3,447
	1,565,680		Anglo American plc (London)		62,114
	313,819		Antofagasta plc		6,093
	175,728		ARM Holdings plc		1,083
	790,799		Associated British Foods plc		13,031
	309,309		AstraZeneca plc		15,711
	101,505		AstraZeneca plc (ADR)		5,146
	3,583,467	*	Autonomy Corp plc		102,059
	459,014		Aveva Group plc		10,549
	539,929		Aviva plc		3,383
	48,982		Babcock International Group		439
	641,364		BAE Systems plc		3,449
	132,862		Balfour Beatty plc		558
	10,592,563		Barclays plc		49,853
	5,831	*	Berkeley Group Holdings plc		76
	1,889,045		BG Group plc		33,191
	561,424		BHP Billiton plc		17,859
	6,954,717		BP plc		46,738
	189,653		BP plc (ADR)		7,808
	12,340,521	*	British Airways plc		47,069
	376,023		British American Tobacco plc		14,026
	884,961		British Land Co plc		6,464
	908,134		British Sky Broadcasting plc		10,065
	9,545,840		BT Group plc		20,994
	49,130		Bunzl plc		586
	80,202		Burberry Group plc		1,310
	147,747		Cable & Wireless plc		132
	508,240		Cable & Wireless Worldwide		587
	3,413,766	*	Cairn Energy plc		24,325
	130,424		Capita Group plc		1,610
	25,809	*	Capital & Counties PRO		53
	22,384		Carnival plc		880
	7,460	*,m	Cattles plc		1
	8,120,333		Centrica plc		41,265

182

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	167,562		Cobham plc	$	608
	5,016,179		Compass Group plc		41,803
	12,168		Delta Lloyd NV		227
	1,047,562		Diageo plc		18,036
	21,646		Drax Group plc		130
	15,243	*	Enquest PLC		28
	9,706	*	EnQuest plc		18
	135,404		Ensco International plc (ADR)		6,057
	158,081		Experian Group Ltd		1,721
	1,214		F&C Asset Management plc		1
	358,010		Firstgroup plc		2,040
	1,000,000		Game Group PLC		1,037
	905,962		GlaxoSmithKline plc		17,854
	269,174		Group 4 Securicor plc		1,077
	135,477		Hammerson plc		839
	737,333		Home Retail Group		2,386
	9,606,863		HSBC Holdings plc		97,339
	1,331,996		ICAP plc		9,029
	1,324,629	*	Imagination Technologies Group PLC		7,936
	655,124		Imperial Tobacco Group plc		19,523
	57,609		Inmarsat plc		600
	181,899		Intercontinental Hotels Group plc		3,246
	4,444,113		International Power plc		27,087
	21,170		Intertek Group plc		609
	119,321		Invensys plc		560
	79,695		Investec plc		637
	473,321	*	ITV plc		444
	223,890		J Sainsbury plc		1,374
	32,296		Johnson Matthey plc		894
	28,761		Kazakhmys plc		656
	1,186,323		Kingfisher plc		4,365
	42,281		Ladbrokes plc		89
	147,652		Land Securities Group plc		1,486
	1,125,324		Legal & General Group plc		1,830
	96,625		Liberty International plc		558
	9,540,984	*	Lloyds TSB Group plc		11,109
	31,825		London Stock Exchange Group plc		340
	24,192	*	Lonmin plc		634
	336,987		Man Group plc		1,160
	760,016		Marks & Spencer Group plc		4,634
	709,403		National Grid plc		6,018
	982,968	*	New Carphone Warehouse plc		4,212
	178,569		Next plc		6,216
	1,043,720		Old Mutual plc		2,276
	1,576,156		Pearson plc		24,401
	47,937		Petrofac Ltd		1,034
	3,480,347		Playtech Ltd		23,728
	2,759,691		Prudential plc		27,594
	471,865		Reckitt Benckiser Group plc		25,951
	169,891		Reed Elsevier plc		1,436
	219,262		Resolution Ltd		844
	169,871		Rexam plc		819

183

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,180,566		Rio Tinto plc	$	69,007
	72,500		Rio Tinto plc (ADR)		4,258
	967,030		Rolls-Royce Group plc		9,168
	667,475		Royal & Sun Alliance Insurance Group plc		1,370
	3,133,344	*	Royal Bank of Scotland Group plc		2,324
	225,791		SABMiller plc		7,220
	256,125		Sage Group plc		1,112
	22,708		Schroders plc		513
	181,575		Scottish & Southern Energy plc		3,189
	139,422		Segro plc		598
	314,252		Serco Group plc		3,036
	45,800		Severn Trent plc		943
	200,366		Smith & Nephew plc		1,827
	829,336		Smiths Group plc		15,881
	405,882		Standard Chartered plc		11,643
	432,489		Standard Life plc		1,571
	19,361	*	TalkTalk Telecom Group plc		45
	1,444,438		Tesco plc		9,621
	134,240		Thomas Cook Group plc		362
	102,492		TUI Travel plc		345
	2,583,264		Tullow Oil plc		51,700
	528,984		Unilever plc		15,298
	3,450,782	*	Unitech Corporate Parks plc		1,816
	133,486		United Utilities Group plc		1,202
	23,097,105		Vodafone Group plc		57,000
	330,346		Vodafone Group plc (ADR)		8,196
	32,810		Whitbread plc		837
	2,975,043		WM Morrison Supermarkets plc		13,820
	50,483	*	Wolseley plc		1,268
	2,765,546		WPP plc		30,606
	292,188		Xstrata plc		5,591
			TOTAL UNITED KINGDOM		1,343,688
UNITED STATES - 46.4%
	183,859		3M Co		15,942
	654,705		Abbott Laboratories		34,202
	37,184		Abercrombie & Fitch Co (Class A)		1,462
	553,084		ACE Ltd		32,217
	66,038		Activision Blizzard, Inc		715
	245,473	*	Adobe Systems, Inc		6,419
	77,405		Advance Auto Parts		4,542
	67,926	*	Advanced Micro Devices, Inc		483
	239,341	*	AES Corp		2,717
	165,799		Aetna, Inc		5,241
	217,671		Aflac, Inc		11,256
	115,484	*	AGCO Corp		4,505
	79,237	*	Agilent Technologies, Inc		2,644
	39,021		Air Products & Chemicals, Inc		3,232
	67,050		Airgas, Inc		4,556
	35,862	*	Akamai Technologies, Inc		1,800
	21,300	*	Alaska Air Group, Inc		1,087
	345,000		Alberto-Culver Co		12,990

184

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	118,568		Alcoa, Inc	$	1,436
	140,964		Allegheny Energy, Inc		3,456
	11,255		Allegheny Technologies, Inc		523
	82,109		Allergan, Inc		5,463
	633,535	*	Alliance Data Systems Corp		41,344
	19,332		Alliant Energy Corp		703
	81,289		Allstate Corp		2,565
	26,727	*	Alpha Natural Resources, Inc		1,100
	105,412		Altera Corp		3,179
	780,934		Altria Group, Inc		18,758
	96,115	*	Amazon.com, Inc		15,096
	25,789		AMB Property Corp		683
	68,190		Ameren Corp		1,937
	240,000	*	American Axle & Manufacturing Holdings, Inc		2,165
	109,768		American Eagle Outfitters, Inc		1,642
	130,018		American Electric Power Co, Inc		4,711
	578,677		American Express Co		24,322
	89,000		American Financial Group, Inc		2,722
	14,900	*	American International Group, Inc		583
	109,809	*	American Tower Corp (Class A)		5,629
	198,504		American Water Works Co, Inc		4,619
	12,300	*	AMERIGROUP Corp		522
	39,928		Ameriprise Financial, Inc		1,890
	157,619		AmerisourceBergen Corp		4,833
	13,347		Ametek, Inc		638
	748,865	*	Amgen, Inc		41,270
	43,440		Amphenol Corp (Class A)		2,128
	150,000	*	AMR Corp		941
	277,693		Anadarko Petroleum Corp		15,842
	150,466		Analog Devices, Inc		4,722
	434,669		Annaly Mortgage Management, Inc		7,650
	23,944	*	AOL, Inc		593
	116,100		AON Corp		4,541
	344,775		Apache Corp		33,705
	6,255		Apartment Investment & Management Co (Class A)		134
	16,143	*	Apollo Group, Inc (Class A)		829
	687,357	*	Apple, Inc		195,039
	434,638		Applied Materials, Inc		5,077
	1,570		Aqua America, Inc		32
	79,918	*	Arch Capital Group Ltd		6,697
	27,332		Arch Coal, Inc		730
	167,789		Archer Daniels Midland Co		5,356
	14,691	*	Arrow Electronics, Inc		393
	134,159		Ashland, Inc		6,543
	21,191		Assurant, Inc		862
	2,342,510		AT&T, Inc		66,995
	49,264	*	Autodesk, Inc		1,575
	179,355		Automatic Data Processing, Inc		7,538
	7,637	*	Autonation, Inc		178
	11,240	*	Autozone, Inc		2,573
	28,235		AvalonBay Communities, Inc		2,934
	12,500		Avery Dennison Corp		464

185

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	77,441	*	Avnet, Inc	$	2,092
	255,911		Avon Products, Inc		8,217
	498,825		Axis Capital Holdings Ltd		16,431
	37,001	*	Babcock & Wilcox Co		787
	451,918		Baker Hughes, Inc		19,252
	66,419		Ball Corp		3,909
	5,518,203		Bank of America Corp		72,344
	189,869		Bank of New York Mellon Corp		4,961
	34,759		Bard (C.R.), Inc		2,830
	179,915		Baxter International, Inc		8,584
	117,741		BB&T Corp		2,835
	8,903		Beckman Coulter, Inc		434
	76,753		Becton Dickinson & Co		5,687
	45,417	*	Bed Bath & Beyond, Inc		1,972
	182,648	*	Berkshire Hathaway, Inc (Class B)		15,101
	95,977		Best Buy Co, Inc		3,919
	87,750	*	Big Lots, Inc		2,918
	81,365	*	Biogen Idec, Inc		4,566
	15,636		BlackRock, Inc		2,662
	90,933	*	BMC Software, Inc		3,681
	453,015		Boeing Co		30,144
	47,512	*	BorgWarner, Inc		2,500
	108,368		Boston Properties, Inc		9,008
	620,353	*	Boston Scientific Corp		3,803
	649,081		Bristol-Myers Squibb Co		17,597
	338,701		Broadcom Corp (Class A)		11,987
	118,257		Brookfield Properties Corp (Toronto)		1,847
	17,427		Brown-Forman Corp (Class B)		1,074
	25,706		Bucyrus International, Inc (Class A)		1,783
	17,329		Bunge Ltd		1,025
	56,453		CA, Inc		1,192
	177,565		Cablevision Systems Corp (Class A)		4,650
	71,686		Cabot Oil & Gas Corp		2,158
	161,814	*	Calpine Corp		2,015
	2,700		Camden Property Trust		130
	152,441	*	Cameron International Corp		6,549
	67,409		Campbell Soup Co		2,410
	192,311		Capital One Financial Corp		7,606
	118,007		Cardinal Health, Inc		3,899
	48,000	*	Career Education Corp		1,031
	80,293	*	CareFusion Corp		1,994
	28,583	*	Carmax, Inc		796
	53,998		Carnival Corp		2,063
	156,756		Caterpillar, Inc		12,333
	10,200	*	CB Richard Ellis Group, Inc (Class A)		186
	431,293		CBS Corp (Class B)		6,840
	18,501		Celanese Corp (Series A)		594
	419,134	*	Celgene Corp		24,146
	1,154,449		Centerpoint Energy, Inc		18,148
	142,926		CenturyTel, Inc		5,640
	52,533	*	Cephalon, Inc		3,280
	8,880	*	Cerner Corp		746

186

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	118,230		CF Industries Holdings, Inc	$	11,291
	24,929		CH Robinson Worldwide, Inc		1,743
	11,381	*	Charles River Laboratories International, Inc		377
	833,544		Charles Schwab Corp		11,586
	75,694		Chesapeake Energy Corp		1,714
	937,536		Chevron Corp		75,988
	2,150,000		Chimera Investment Corp		8,493
	15,264	*	China Ming Yang Wind Power Group Ltd ADS		214
	13,785	*	ChinaCache International Holdings Ltd. (ADR)		192
	42,575		Chubb Corp		2,426
	51,367		Church & Dwight Co, Inc		3,336
	157,836		Cigna Corp		5,647
	35,591		Cimarex Energy Co		2,355
	23,205		Cincinnati Financial Corp		669
	16,887		Cintas Corp		465
	4,705,759	*	Cisco Systems, Inc		103,057
	123,812	*	CIT Group, Inc		5,054
	14,735,464	*	Citigroup, Inc		57,468
	42,453	*	Citrix Systems, Inc		2,897
	53,576		Cleveland-Cliffs, Inc		3,425
	56,497		Clorox Co		3,772
	22,857		CME Group, Inc		5,953
	85,000		CMS Energy Corp		1,532
	368,761		Coach, Inc		15,842
	350,000	*	Cobalt International Energy, Inc		3,343
	1,120,682		Coca-Cola Co		65,582
	117,443		Coca-Cola Enterprises, Inc		3,641
	94,074	*	Cognizant Technology Solutions Corp (Class A)		6,065
	158,789		Colgate-Palmolive Co		12,205
	1,198,748		Comcast Corp (Class A)		21,673
	99,805		Comcast Corp (Special Class A)		1,698
	64,112		Comerica, Inc		2,382
	90,000	*	Commvault Systems, Inc		2,343
	43	*	Compound partnering business		0	^
	315,116		Computer Sciences Corp		14,495
	173,767		ConAgra Foods, Inc		3,812
	172,363	*	Concho Resources, Inc		11,405
	394,569		ConocoPhillips		22,660
	58,817		Consol Energy, Inc		2,174
	44,226		Consolidated Edison, Inc		2,133
	22,229	*	Constellation Brands, Inc (Class A)		393
	322,464		Constellation Energy Group, Inc		10,396
	273,600	*	Continental Airlines, Inc (Class B)		6,796
	60,000		Con-way, Inc		1,859
	211,710		Cooper Industries plc		10,359
	29,800		Cooper Tire & Rubber Co		585
	135,800		Corn Products International, Inc		5,093
	982,726		Corning, Inc		17,964
	200,480		Costco Wholesale Corp		12,929
	11,080	*	Covance, Inc		518
	91,791	*	Coventry Health Care, Inc		1,976
	91,412		Covidien plc		3,674

187

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	110,848	*	Cree, Inc	$	6,018
	75,219	*	Crown Castle International Corp		3,321
	452,250	*	Crown Holdings, Inc		12,962
	253,639		Crude Carriers Corp		4,566
	287,291		CSX Corp		15,893
	96,090		Cummins, Inc		8,704
	890,332		CVS Corp		28,018
	308,300		Cytec Industries, Inc		17,382
	209,808		Danaher Corp		8,520
	235,452		Darden Restaurants, Inc		10,073
	136,312	*	DaVita, Inc		9,410
	635,504	*	Dean Foods Co		6,488
	133,864		Deere & Co		9,341
	460,000		Del Monte Foods Co		6,031
	645,852	*	Dell, Inc		8,370
	162,873	*	Delta Air Lines, Inc		1,896
	873,813	*	Denbury Resources, Inc		13,885
	45,000	*	Dendreon Corp		1,853
	24,486		Dentsply International, Inc		783
	6,737		Developers Diversified Realty Corp		76
	60,658		Devon Energy Corp		3,927
	36,636		DeVry, Inc		1,803
	12,317		Diamond Offshore Drilling, Inc		835
	46,800		Dillard’s, Inc (Class A)		1,106
	551,259	*	DIRECTV		22,949
	254,435		Discover Financial Services		4,244
	183,482	*	Discovery Communications, Inc (Class A)		7,991
	16,682	*	Discovery Communications, Inc (Class C)		637
	428,633		DISH Network Corp (Class A)		8,213
	50,235	*	Dolby Laboratories, Inc (Class A)		2,854
	9,564	*	Dollar General Corp		280
	133,201	*	Dollar Tree, Inc		6,495
	136,454		Dominion Resources, Inc		5,958
	14,700		Domtar Corporation		949
	26,890		Dover Corp		1,404
	463,617		Dow Chemical Co		12,731
	116,420		DR Horton, Inc		1,295
	367,884		Dr Pepper Snapple Group, Inc		13,067
	28,700	*	Dril-Quip, Inc		1,783
	79,000	*	DSW, Inc (Class A)		2,267
	47,016		DTE Energy Co		2,159
	401,095		Du Pont (E.I.) de Nemours & Co		17,897
	249,489		Duke Energy Corp		4,418
	44,749		Duke Realty Corp		519
	6,591		Dun & Bradstreet Corp		489
	4,940	*	Dynegy, Inc (Class A)		24
	3,085,090	*	E*Trade Financial Corp		44,857
	9,081		Eastman Chemical Co		672
	41,114		Eaton Corp		3,391
	14,803		Eaton Vance Corp		430
	369,624	*	eBay, Inc		9,018
	132,015		Ecolab, Inc		6,698

188

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	54,922		Edison International	$	1,889
	357,165	*	Edwards Lifesciences Corp		23,949
	176,790		El Paso Corp		2,189
	41,718	*	Electronic Arts, Inc		685
	198,312		Eli Lilly & Co		7,244
	539,349	*	EMC Corp		10,954
	233,955		Emerson Electric Co		12,320
	59,886	*	Endo Pharmaceuticals Holdings, Inc		1,991
	28,000		Endurance Specialty Holdings Ltd		1,114
	39,866		Energen Corp		1,823
	186,598	*	Energizer Holdings, Inc		12,545
	1,750	*	EnerSys		44
	96,610		Entergy Corp		7,394
	96,856		EOG Resources, Inc		9,005
	31,052		Equifax, Inc		969
	23,413		Equitable Resources, Inc		844
	69,636		Equity Residential		3,313
	10,000		Essex Property Trust, Inc		1,094
	50,641		Estee Lauder Cos (Class A)		3,202
	54,670		Everest Re Group Ltd		4,727
	261,233		Exelon Corp		11,123
	26,884		Expedia, Inc		758
	48,087		Expeditors International Washington, Inc		2,223
	393,475	*	Express Scripts, Inc		19,162
	3,000	*	Exterran Holdings, Inc		68
	1,937,267		Exxon Mobil Corp		119,705
	27,887	*	F5 Networks, Inc		2,895
	104,921		Family Dollar Stores, Inc		4,633
	15,157		Fastenal Co		806
	32,700	*	Federal Home Loan Mortgage Corp		10
	127,000	*	Federal Mogul Corp (Class A)		2,402
	205,500	*	Federal National Mortgage Association		56
	31,286		Federal Realty Investment Trust		2,555
	171,164		FedEx Corp		14,635
	1,182,208	*	Ferro Corp		15,239
	43,082		Fidelity National Information Services, Inc		1,169
	38,047		Fidelity National Title Group, Inc (Class A)		598
	200,845		Fifth Third Bancorp		2,416
	29,800	*	Finisar Corp		560
	4,325		First American Corp		83
	4,325		First American Financial Corp		65
	79,521	*	First Horizon National Corp		907
	6,956	*	First Solar, Inc		1,025
	38,833		FirstEnergy Corp		1,497
	27,782	*	Fiserv, Inc		1,495
	19,467	*	Flir Systems, Inc		500
	12,626		Flowserve Corp		1,382
	22,789		Fluor Corp		1,129
	36,833		FMC Corp		2,520
	117,065	*	FMC Technologies, Inc		7,994
	2,213,594	*	Ford Motor Co		27,094
	3,000	*	Forest City Enterprises, Inc (Class A)		38

189

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	316,493	*	Forest Laboratories, Inc	$	9,789
	17,634		Fortune Brands, Inc		868
	20,600	*	Fossil, Inc		1,108
	35,675	*	Foster Wheeler AG.		873
	44,289		Franklin Resources, Inc		4,734
	213,875		Freeport-McMoRan Copper & Gold, Inc (Class B)		18,263
	1,344,987		Frontier Communications Corp		10,989
	41,800		Frontier Oil Corp		560
	292	*	FTI Consulting, Inc		10
	34,569	*	GameStop Corp (Class A)		681
	125,000		Gannett Co, Inc		1,529
	391,800		Gap, Inc		7,303
	60,882		Garmin Ltd		1,848
	280,987		General Dynamics Corp		17,649
	4,869,704		General Electric Co		79,134
	467,869		General Mills, Inc		17,096
	35,948		Genuine Parts Co		1,603
	110,361	*	Genworth Financial, Inc (Class A)		1,349
	163,888	*	Genzyme Corp		11,602
	1,865,037	*	Gilead Sciences, Inc		66,414
	277,557		Goldman Sachs Group, Inc		40,129
	251,870		Goodrich Corp		18,570
	102,320	*	Goodyear Tire & Rubber Co		1,100
	170,801	*	Google, Inc (Class A)		89,804
	104,040	*	GSI Commerce, Inc		2,570
	42,037		H&R Block, Inc		544
	1		H.B. Fuller Co		0	^
	428,974		H.J. Heinz Co		20,320
	479,031		Halliburton Co		15,842
	94,461	*	Hansen Natural Corp		4,404
	29,882		Harley-Davidson, Inc		850
	91,809		Harris Corp		4,066
	88,613		Harsco Corp		2,178
	95,580		Hartford Financial Services Group, Inc		2,194
	342,239		Hasbro, Inc		15,233
	93,932		HCP, Inc		3,380
	15,638		Health Care REIT, Inc		740
	77,400	*	Health Net, Inc		2,105
	590,000	*	Healthsouth Corp		11,328
	34,755		Helmerich & Payne, Inc		1,406
	15,951	*	Henry Schein, Inc		934
	53,922		Herbalife Ltd		3,254
	133,320		Hershey Co		6,345
	172,132		Hess Corp		10,176
	2,023,888		Hewlett-Packard Co		85,145
	489,833	*	Hologic, Inc		7,842
	569,629		Home Depot, Inc		18,045
	729,609		Honeywell International, Inc		32,058
	34,236		Hormel Foods Corp		1,527
	138,588	*	Hospira, Inc		7,901
	358,510		Host Marriott Corp		5,191

190

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	383,774		Hudson City Bancorp, Inc	$	4,704
	259,926	*	Human Genome Sciences, Inc		7,743
	78,545	*	Humana, Inc		3,946
	2,368,749		Huntington Bancshares, Inc		13,431
	92,500		Huntsman Corp		1,069
	150,000	*	IAC/InterActiveCorp		3,941
	5,124	*	IHS, Inc (Class A)		348
	206,519		Illinois Tool Works, Inc		9,711
	15,311	*	Illumina, Inc		753
	57,513		Ingersoll-Rand plc		2,054
	50,441		Integrys Energy Group, Inc		2,626
	2,367,685		Intel Corp		45,530
	8,037	*	IntercontinentalExchange, Inc		842
	633,862		International Business Machines Corp		85,027
	9,636		International Flavors & Fragrances, Inc		468
	53,897		International Game Technology		779
	224,459		International Paper Co		4,883
	404,687	*	Interpublic Group of Cos, Inc		4,059
	133,732	*	Intuit, Inc		5,859
	25,308	*	Intuitive Surgical, Inc		7,181
	262,181		Invesco Ltd		5,566
	600,000	*	IPATH S&P 500 VIX S		10,392
	23,294		Iron Mountain, Inc		520
	4,500,000		iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		7,192
	1,641,359		iShares MSCI Canada Index Fund		46,007
	1,305,852		iShares MSCI EAFE Index Fund		71,717
	1,244,637		iShares MSCI Japan Index Fund		12,309
	21,000		iShares MSCI Pacific ex-Japan Index Fund		930
	23,275	*	ITT Educational Services, Inc		1,636
	154,589		ITT Industries, Inc		7,239
	100,000	*	J Crew Group, Inc		3,362
	12,130		J.B. Hunt Transport Services, Inc		421
	13,812		J.M. Smucker Co		836
	297,849	*	Jacobs Engineering Group, Inc		11,527
	428,293		Jarden Corp		13,333
	24,673		JC Penney Co, Inc		671
	80,120	*	JDS Uniphase Corp		993
	14,426		Jefferies Group, Inc		327
	31,000	*	Jo-Ann Stores, Inc		1,381
	7,348		John Bean Technologies Corp		118
	1,085,125		Johnson & Johnson		67,234
	153,142		Johnson Controls, Inc		4,671
	108,155		Joy Global, Inc		7,605
	2,015,715		JPMorgan Chase & Co		76,738
	92,699	*	Juniper Networks, Inc		2,813
	66,998	*	Kansas City Southern Industries, Inc		2,506
	458,998		KBR, Inc		11,310
	52,224		Kellogg Co		2,638
	194,055		Keycorp		1,545
	172,090		Kimberly-Clark Corp		11,194
	103,900		Kimco Realty Corp		1,636

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	10,138	*	Kinder Morgan Management LLC	$	611
	16,800	*	Kinetic Concepts, Inc		615
	108,000	*	King Pharmaceuticals, Inc		1,076
	26,885		Kla-Tencor Corp		947
	256,106	*	Kohl’s Corp		13,492
	923,338		Kraft Foods, Inc (Class A)		28,495
	365,027		Kroger Co		7,906
	25,678		L-3 Communications Holdings, Inc		1,856
	44,031	*	Laboratory Corp of America Holdings		3,453
	21,314	*	Lam Research Corp		892
	38,301	*	Las Vegas Sands Corp		1,335
	55,490	*	Lear Corp (New)		4,380
	20,425		Legg Mason, Inc		619
	18,782		Leggett & Platt, Inc		427
	18,146		Lender Processing Services, Inc		603
	24,838	*	Leucadia National Corp		587
	190,127	*	Level 3 Communications, Inc		178
	42,000	*	Lexmark International, Inc (Class A)		1,874
	43,470	*	Liberty Global, Inc (Class A)		1,339
	10,386	*	Liberty Global, Inc (Series C)		317
	584	*	Liberty Media Corp - Starz		38
	65,946	*	Liberty Media Holding Corp (Interactive A)		904
	18,764		Liberty Property Trust		599
	219,105	*	Life Technologies Corp		10,230
	557,318		Limited Brands, Inc		14,924
	135,802		Lincare Holdings, Inc		3,407
	367,991		Lincoln National Corp		8,802
	28,484		Linear Technology Corp		875
	200,238		Lockheed Martin Corp		14,273
	53,380		Loews Corp		2,023
	267,123		Lorillard, Inc		21,453
	481,931		Lowe’s Cos, Inc		10,742
	83,766	*	LSI Logic Corp		382
	70,286		Lubrizol Corp		7,448
	10,607		M&T Bank Corp		868
	45,599		Macerich Co		1,958
	530,067		Macy’s, Inc		12,239
	1	*	Madison Square Garden, Inc		0	^
	10,647		Manpower, Inc		556
	211,516		Marathon Oil Corp		7,001
	77,194		Marriott International, Inc (Class A)		2,766
	179,270		Marsh & McLennan Cos, Inc		4,324
	307,987		Marshall & Ilsley Corp		2,168
	5,780		Martin Marietta Materials, Inc		445
	388,491	*	Marvell Technology Group Ltd		6,802
	894,923		Masco Corp		9,852
	32,752		Mastercard, Inc (Class A)		7,336
	152,348		Mattel, Inc		3,574
	184,677		Maxim Integrated Products, Inc		3,418
	161,427	*	McAfee, Inc		7,629
	69,931		McCormick & Co, Inc		2,940
	62,602	*	McDermott International, Inc		925

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	625,604		McDonald’s Corp	$	46,615
	121,071		McGraw-Hill Cos, Inc		4,003
	185,047		McKesson Corp		11,432
	36,800		MDC Holdings, Inc		1,068
	51,689		MDU Resources Group, Inc		1,031
	174,056		Mead Johnson Nutrition Co		9,906
	37,262		MeadWestvaco Corp		908
	77,354	*	Medco Health Solutions, Inc		4,027
	75,000		Medicis Pharmaceutical Corp (Class A)		2,224
	367,037		Medtronic, Inc		12,325
	61,059	*	MEMC Electronic Materials, Inc		728
	1,155,697		Merck & Co, Inc		42,541
	538,443		Metlife, Inc		20,703
	225,805	*	MetroPCS Communications, Inc		2,362
	2,807,400	*	MF Global Holdings Ltd		20,213
	32,369	*	MGM Mirage		365
	23,570		Microchip Technology, Inc		741
	575,523	*	Micron Technology, Inc		4,150
	4,767,181		Microsoft Corp		116,748
	12,574	*	Mirant Corp		125
	7,294	*	Mohawk Industries, Inc		389
	18,846		Molson Coors Brewing Co (Class B)		890
	166,553		Monsanto Co		7,983
	86,999		Moody’s Corp		2,173
	1,175,839		Morgan Stanley		29,020
	228,191		Mosaic Co		13,409
	629,716	*	Motorola, Inc		5,371
	78,557		Murphy Oil Corp		4,864
	363,192	*	Mylan Laboratories, Inc		6,832
	553	*	Myriad Genetics, Inc		9
	75,627	*	Nabors Industries Ltd		1,366
	17,527	*	Nasdaq Stock Market, Inc		341
	244,914		National Oilwell Varco, Inc		10,891
	30,208		National Semiconductor Corp		386
	304,440	*	NetApp, Inc		15,158
	5,190	*	NetFlix, Inc		842
	66,336		New York Community Bancorp, Inc		1,078
	391,353		NextEra Energy, Inc		21,286
	615,763		Newell Rubbermaid, Inc		10,967
	89,922	*	Newfield Exploration Co		5,165
	77,359		Newmont Mining Corp		4,859
	211,613		News Corp (Class A)		2,764
	51,002		News Corp (Class B)		768
	86,452	*	NII Holdings, Inc (Class B)		3,553
	61,599		Nike, Inc (Class B)		4,937
	105,263		NiSource, Inc		1,832
	95,630		Noble Corp		3,231
	131,071		Noble Energy, Inc		9,842
	298,868		Nordstrom, Inc		11,118
	154,728		Norfolk Southern Corp		9,208
	237,724		Northeast Utilities		7,029
	32,821		Northern Trust Corp		1,583
	83,253		Northrop Grumman Corp		5,048

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	215,000	*	Novell, Inc	$	1,284
	496,753	*	NRG Energy, Inc		10,342
	13,193		NSTAR		519
	182,902		Nu Skin Enterprises, Inc (Class A)		5,268
	347,188	*	Nuance Communications, Inc		5,430
	36,593		Nucor Corp		1,398
	200,586	*	Nvidia Corp		2,343
	7,750	*	NVR, Inc		5,018
	33,159		NYSE Euronext		947
	882,481		Occidental Petroleum Corp		69,099
	10,400	*	Office Depot, Inc		48
	61,163		Old Republic International Corp		847
	15,399		Omnicare, Inc		368
	235,183		Omnicom Group, Inc		9,285
	39,348		Oneok, Inc		1,772
	1,919,719		Oracle Corp		51,544
	17,757	*	O’Reilly Automotive, Inc		945
	1,883,457	*	Orient-Express Hotels Ltd (Class A)		21,001
	21,491	*	Owens-Illinois, Inc		603
	206,317		Paccar, Inc		9,934
	36,911	*	Pactiv Corp		1,217
	32,974		Pall Corp		1,373
	45,443		Parker Hannifin Corp		3,184
	198,665		PartnerRe Ltd		15,929
	16,993		Patterson Cos, Inc		487
	9,461		Patterson-UTI Energy, Inc		162
	48,446		Paychex, Inc		1,332
	70,019		Peabody Energy Corp		3,432
	60,000	*	Penn National Gaming, Inc		1,777
	20,196		Pentair, Inc		679
	100,653		People’s United Financial, Inc		1,318
	59,766		Pepco Holdings, Inc		1,112
	705,155		PepsiCo, Inc		46,850
	230,000		PerkinElmer, Inc		5,322
	79,876		Perrigo Co		5,130
	47,306	*	PetroHawk Energy Corp		764
	52,997		Petsmart, Inc		1,855
	4,639,641		Pfizer, Inc		79,663
	328,068		PG&E Corp		14,901
	14,469		Pharmaceutical Product Development, Inc		359
	33,935		Pinnacle West Capital Corp		1,400
	34,729		Pioneer Natural Resources Co		2,258
	37,163		Pitney Bowes, Inc		795
	16,197	*	Plains Exploration & Production Co		432
	29,233		Plum Creek Timber Co, Inc		1,032
	212,864		PNC Financial Services Group, Inc		11,050
	25,450		Polo Ralph Lauren Corp (Class A)		2,287
	90,000	*	Polycom, Inc		2,455
	72,073		PPG Industries, Inc		5,247
	128,001		PPL Corp		3,485
	46,620		Praxair, Inc		4,208

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	160,234		Precision Castparts Corp	$	20,406
	13,069	*	Priceline.com, Inc		4,552
	221,381	*	Pride International, Inc		6,515
	381,833		Principal Financial Group		9,897
	879,616		Procter & Gamble Co		52,750
	47,743		Progress Energy, Inc		2,121
	81,439		Progressive Corp		1,700
	72,901		Prologis		859
	573,858		Prudential Financial, Inc		31,092
	498,665		Public Service Enterprise Group, Inc		16,496
	44,379		Public Storage, Inc		4,307
	43,171	*	Pulte Homes, Inc		378
	7,583	*	QLIK Technologies, Inc		167
	621,796		Qualcomm, Inc		28,055
	26,625	*	Quanta Services, Inc		508
	19,533		Quest Diagnostics, Inc		986
	110,438		Questar Corp		1,936
	128,925		Questar Market Resources, Inc		3,886
	2,047,295		Qwest Communications International, Inc		12,837
	125,309		R.R. Donnelley & Sons Co		2,125
	1,800		RadioShack Corp		38
	6,874	*	Ralcorp Holdings, Inc		402
	26,135		Range Resources Corp		997
	40,057		Rayonier, Inc		2,008
	180,911		Raytheon Co		8,269
	23,978	*	Red Hat, Inc		983
	14,175		Regency Centers Corp		559
	584,520		Regions Financial Corp		4,249
	449		Reinsurance Group of America, Inc (Class A)		22
	33,800		Reliance Steel & Aluminum Co		1,404
	17,700	*	Reliant Energy, Inc		63
	247,659		RenaissanceRe Holdings Ltd		14,850
	394,554		Republic Services, Inc		12,030
	102,670		Reynolds American, Inc		6,098
	17,958		Robert Half International, Inc		467
	18,268		Rockwell Automation, Inc		1,128
	160,496		Rockwell Collins, Inc		9,349
	20,819		Roper Industries, Inc		1,357
	132,916		Ross Stores, Inc		7,260
	84,473	*	Rowan Cos, Inc		2,565
	159,323	*	Royal Caribbean Cruises Ltd		5,023
	42,250		Ryder System, Inc		1,807
	153,907		Safeway, Inc		3,257
	48,201	*	SAIC, Inc		770
	14,329	*	Salesforce.com, Inc		1,602
	126,505	*	SanDisk Corp		4,636
	255,539		Sara Lee Corp		3,432
	21,060	*	SBA Communications Corp (Class A)		849
	20,260		SCANA Corp		817
	793,690		Schlumberger Ltd		48,899
	118,000		Schnitzer Steel Industries, Inc (Class A)		5,697
	3,955		Scotts Miracle-Gro Co (Class A)		205

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	92,821		Scripps Networks Interactive (Class A)	$	4,416
	684,511	*	Seagate Technology, Inc		8,064
	611	*	Seahawk Drilling, Inc		5
	19,662		Sealed Air Corp		442
	5,178	*	Sears Holdings Corp		374
	16,362		SEI Investments Co		333
	177,292		Sempra Energy		9,538
	36,609		Sherwin-Williams Co		2,751
	15,536		Sigma-Aldrich Corp		938
	195,159		Simon Property Group, Inc		18,099
	22,900		SL Green Realty Corp		1,450
	109,656	*	SLM Corp		1,267
	6,313	*	Smart Technologies, Inc		86
	55,000	*	Smithfield Foods, Inc		926
	101,000		Sonoco Products Co		3,377
	50,000		Sotheby’s (Class A)		1,841
	157,075		Southern Co		5,849
	171,250		Southwest Airlines Co		2,238
	84,077	*	Southwestern Energy Co		2,812
	619,916		SPDR Trust Series 1		70,745
	205,736		Spectra Energy Corp		4,639
	115,000	*	Spirit Aerosystems Holdings, Inc (Class A)		2,292
	1,774,459	*	Sprint Nextel Corp		8,216
	31,859		SPX Corp		2,016
	102,830	*	St. Jude Medical, Inc		4,045
	43,101		Stanley Works		2,641
	319,369		Staples, Inc		6,681
	204,774		Starbucks Corp		5,238
	50,710		Starwood Hotels & Resorts Worldwide, Inc		2,665
	189,047		State Street Corp		7,120
	21,013	*	Stericycle, Inc		1,460
	163,967		Stryker Corp		8,207
	56,589		Sunoco, Inc		2,065
	2,483	*	Sunpower Corp (Class A)		36
	143,450		SunTrust Banks, Inc		3,705
	2,825,577		Supervalu, Inc		32,578
	1,082,862	*	Symantec Corp		16,427
	18,024	*	Synopsys, Inc		446
	209,290		Sysco Corp		5,969
	40,518		T Rowe Price Group, Inc		2,029
	498,455		Target Corp		26,636
	44,023		Taubman Centers, Inc		1,964
	493,399		TCF Financial Corp		7,988
	30,182	*	TD Ameritrade Holding Corp		487
	43,217		Telephone & Data Systems, Inc		1,418
	300,000		Tellabs, Inc		2,235
	71,243	*	Teradata Corp		2,747
	328,707		Texas Instruments, Inc		8,921
	230,613		Textron, Inc		4,741
	10,865		TFS Financial Corp		100
	105,000	*	Theravance, Inc		2,111
	342,147	*	Thermo Electron Corp		16,382

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	32,000	*	Thoratec Corp	$	1,183
	42,111		Tiffany & Co		1,979
	219,904		Time Warner Cable, Inc		11,873
	473,933		Time Warner, Inc		14,526
	46,000		Timken Co		1,765
	157,000	*	Titanium Metals Corp		3,134
	288,509		TJX Companies, Inc		12,875
	25,411	*	Toll Brothers, Inc		483
	19,989		Torchmark Corp		1,062
	45,963		Total System Services, Inc		700
	7,191		Transatlantic Holdings, Inc		365
	99,631		TransDigm Group, Inc		6,182
	82,377	*	Transocean Ltd		5,296
	289,379		Travelers Cos, Inc		15,077
	90,000	*	TRW Automotive Holdings Corp		3,740
	165,000		Tupperware Corp		7,550
	267,768		Tyco Electronics Ltd		7,824
	406,983		Tyco International Ltd		14,948
	278,593		Tyson Foods, Inc (Class A)		4,463
	35,500	*	UAL Corp		839
	25,384	*	Ultra Petroleum Corp		1,066
	299,847		Union Pacific Corp		24,528
	23,000	*	Unisys Corp		642
	623,247		United Parcel Service, Inc (Class B)		41,565
	16,651		United States Steel Corp		730
	217,742		United Technologies Corp		15,510
	1,067,397		UnitedHealth Group, Inc		37,475
	77,735		UnumProvident Corp		1,722
	67,099	*	Urban Outfitters, Inc		2,110
	10,748	*	URS Corp		408
	1,915,044		US Bancorp		41,403
	110,999		Valero Energy Corp		1,944
	62,400		Valspar Corp		1,987
	300,000	*	Vanda Pharmaceuticals, Inc		2,004
	28,405	*	Varian Medical Systems, Inc		1,719
	113,700	*	Veeco Instruments, Inc		3,965
	35,698		Ventas, Inc		1,841
	33,423	*	VeriSign, Inc		1,061
	11,272	*	Verisk Analytics, Inc		316
	1,443,777		Verizon Communications, Inc		47,052
	25,333	*	Vertex Pharmaceuticals, Inc		876
	94,587		VF Corp		7,663
	839,127		Viacom, Inc (Class B)		30,368
	105,039		Virgin Media, Inc		2,418
	119,780		Visa, Inc (Class A)		8,895
	139,000	*	Vishay Intertechnology, Inc		1,346
	32,818	*	Vitamin Shoppe, Inc		901
	69,255	*	VMware, Inc (Class A)		5,883
	77,042		Vornado Realty Trust		6,589
	15,998		Vulcan Materials Co		591
	17,771		W.R. Berkley Corp		481

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	17,787		W.W. Grainger, Inc	$	2,119
	75,000	*	WABCO Holdings, Inc		3,146
	165,436		Walgreen Co		5,542
	765,222		Wal-Mart Stores, Inc		40,954
	1,268,017		Walt Disney Co		41,983
	233,750		Walter Energy, Inc		19,002
	60,139		Warner Chilcott plc		1,350
	2,774		Washington Post Co (Class B)		1,108
	143,750	*	Waste Connections, Inc		5,701
	146,203		Waste Management, Inc		5,225
	30,886	*	Waters Corp		2,186
	507,099	*	Watson Pharmaceuticals, Inc		21,455
	537,904	*	Weatherford International Ltd		9,198
	60,000	*	WellCare Health Plans, Inc		1,738
	526,162	*	WellPoint, Inc		29,802
	4,135,424		Wells Fargo & Co		103,922
	319,196	*	Western Digital Corp		9,062
	463,724		Western Union Co		8,194
	180,000		Westway Group, Inc		594
	102,976		Weyerhaeuser Co		1,623
	74,071		Whirlpool Corp		5,997
	1,173		White Mountains Insurance Group Ltd		362
	79,676	*	Whole Foods Market, Inc		2,957
	424,952		Williams Cos, Inc		8,121
	67,000		Williams-Sonoma, Inc		2,124
	34,527		Willis Group Holdings plc		1,064
	60,943		Windstream Corp		749
	40,092		Wisconsin Energy Corp		2,317
	100,000	*	WMS Industries, Inc		3,807
	173,000	*	WR Grace & Co		4,834
	23,751		Wynn Resorts Ltd		2,061
	245,543		Xcel Energy, Inc		5,640
	1,327,029		Xerox Corp		13,735
	177,244		Xilinx, Inc		4,716
	573,652		XL Capital Ltd		12,425
	440,117	*	Yahoo!, Inc		6,236
	201,412		Yum! Brands, Inc		9,277
	58,167	*	Zimmer Holdings, Inc		3,044
			TOTAL UNITED STATES		6,301,280
			TOTAL COMMON STOCKS		13,361,035
			(Cost $12,334,904)
PREFERRED STOCKS - 0.0%
UNITED STATES - 0.0%
	530,757	*,b	Motors Liquidation Co		4,124
			TOTAL UNITED STATES		4,124
			TOTAL PREFERRED STOCKS		4,124
			(Cost $4,777)

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	681,005	m	GPT Group	$	0	^
			TOTAL AUSTRALIA		0	^
CANADA - 0.0%
	9,514		Kinross Gold Corp		41
			TOTAL CANADA		41
FRANCE - 0.0%
	23,638		Cie Generale des Etablissements Michelin		66
	1,094		Fonciere Des Regions CW10		1
			TOTAL FRANCE		67
GERMANY - 0.0%
	85,575	m	Deutsche Bank AG.		414
			TOTAL GERMANY		414
GREECE - 0.0%
	84,337		National Bank of Greece S.A.		41
			TOTAL GREECE		41
HONG KONG - 0.0%
	1,193		Henderson Land Development Co Ltd Warrant		0	^
			TOTAL HONG KONG		0	^
ITALY - 0.0%
	15,170		Mediobanca S.p.A. CW11		1
	75,887		Unione di Banche Italiane SCPA		1
			TOTAL ITALY		2
MALAYSIA - 0.0%
	22,780		IJM Land BHD		8
			TOTAL MALAYSIA		8
			TOTAL RIGHTS / WARRANTS		573
			(Cost $55)

PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 9.4%
GOVERNMENT AGENCY DEBT - 0.8%
			Federal Home Loan Bank (FHLB)
$	10,000,000		FHLB, 10/01/10	10,000
	2,500,000		FHLB, 10/08/10	2,500
	100,000,000		FHLB, 10/20/10	99,998
			TOTAL GOVERNMENT AGENCY DEBT	112,498
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 8.6%
REPURCHASE AGREEMENTS - 6.6%
	24,000,000	1	Bank of America	24,000
	119,000,000	2	Barclay Capital	119,000
	109,000,000	3	BNP	109,000
	101,000,000	4	Calyon	101,000
	118,000,000	5	CSFB	118,000

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

PRINCIPAL			ISSUER	VALUE (000)
$	120,000,000	6	Deutsche Bank	$	120,000
	1,303,000	7	Deutsche Bank		1,303
	50,000,000	8	ING		50,000
	50,000,000	9	JP Morgan Chase & Co		50,000
	200,000,000	10	Nomura Securities		200,000
			TOTAL REPURCHASE AGREEMENTS		892,303
VARIABLE RATE SECURITY - 2.0%
	14,000,000		American Express Credit Account Master		13,998
	11,000,000		American Express Credit Account Master		11,018
	15,000,000		American Express Credit Account Master		15,016
	11,000,000		BA Credit Card Trust		10,996
	5,000,000		Bank One Issuance Trust		4,999
	8,000,000		Capital One Multi-Asset Execution Trust		7,982
	5,000,000		Chase Issuance Trust 2006		4,999
	3,875,000		Chase Issuance Trust 2007		3,874
	9,000,000		Chase Issuance Trust 2007		8,975
	20,000,000		Citibank Credit Card Issuance Trust		20,041
	12,000,000		Discover Card Master Trust 2003		12,001
	18,000,000		Discover Card Master Trust 2005		17,997
	6,265,618		GE Equipment Midticket LLC		6,258
	4,000,000		General Electric Cap Corp		4,001
	20,000,000		General Electric Cap Corp		20,063
	3,000,000		General Electric Cap Corp		3,002
	4,089,226		Granite Master Issuer plc 2006		3,811
	3,505,050		Granite Master Issuer plc 2007		3,267
	1,880,510		Medallion Trust Series 2005		1,815
	11,684,263		Nelnet Student Loan Trust 2006		11,655
	3,805,775		Nelnet Student Loan Trust 2007		3,793
	25,000,000		Permanent Master Issuer plc		24,559
	3,965,610		Puma Global Mortgage Backed Trust		3,745
	5,478,409		SLM Student Loan Trust 2006		5,475
	30,000,000		SLM Student Loan Trust 2007		28,693
	8,000,000		SLM Student Loan Trust 2008		8,030
	5,587,736		Wachovia Student Loan Trust 2005		5,583
			TOTAL VARIABLE RATE SECURITY		265,646
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		1,157,949
			TOTAL SHORT-TERM INVESTMENTS		1,270,447
			(Cost $1,272,335)
			TOTAL INVESTMENTS - 108.2%		14,695,321
			(Cost $13,675,338)
			OTHER ASSETS & LIABILITIES, NET - (8.2)%		(1,112,401	)
			NET ASSETS - 100.0%	$	13,582,920

200

	Abbreviation(s):
ADR	American Depositary Receipt
ADS	American Depository Shares
SPDR	Standard & Poor’s Depository Receipts

*	Non-income producing.
^	Amount represents less than $1,000.
b	In bankruptcy.
f	Restricted security.
m	Indicates asecurity that has been deemed illiquid.
n	In default.
1	Agreement with Bank of America, 0.25% dated 09/30/10 to be repurchased at $24,000,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $24,480,000.
2	Agreement with Barclay Capital, 0.25% dated 09/30/10 to be repurchased at $119,001,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $121,380,000.
3	Agreement with BNP, 0.23% dated 09/30/10 to be repurchased at $109,001,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $111,180,000.
4	Agreement with Calyon, 0.23% dated 09/30/10 to be repurchased at $101,001,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $103,020,000.
5	Agreement with CSFB, 1.13% dated 09/30/10 to be repurchased at $118,004,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $120,364,000.
6	Agreement with Deutsche Bank, 0.23% dated 09/30/10 to be repurchased at $120,001,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $122,400,000.
7	Agreement with Deutsche Bank, 0.20% dated 09/30/10 to be repurchased at $1,303,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $1,330,000.
8	Agreement with ING, 1.58% dated 09/30/10 to be repurchased at $50,002,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $51,002,000.
9	Agreement with JP Morgan Chase & Co, 3.23% dated 09/30/10 to be repurchased at $50,004,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $51,005,000.
10	Agreement with Nomura Securities, 0.32% dated 09/30/10 to be repurchased at $200,002,000 on 10/01/10, collateralized by U.S. Government Agencies securities valued at $204,000,000.
	Cost amounts are in thousands.

201

COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES ACCOUNT
SUMMARY OF MARKET VALUE BY SECTOR (unaudited)
September 30, 2010

SECTOR	VALUE (000)			% OF NET ASSETS
FINANCIALS	$	2,872,769		21.2	%
INFORMATION TECHNOLOGY		1,731,381		12.7
CONSUMER DISCRETIONARY		1,605,921		11.8
INDUSTRIALS		1,532,971		11.3
HEALTH CARE		1,328,616		9.8
ENERGY		1,223,713		9.0
CONSUMER STAPLES		1,197,774		8.8
MATERIALS		1,041,489		7.7
UTILITIES		454,714		3.3
TELECOMMUNICATION SERVICES		435,526		3.2
SHORT - TERM INVESTMENTS		1,270,447		9.4
OTHER ASSETS & LIABILITIES, NET		(1,112,401	)	(8.2	)
NET ASSETS	$	13,582,920		100.0	%

202

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND
GROWTH ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2010

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.5%
AUTOMOBILES & COMPONENTS - 1.7%
	127,120	*	Autoliv, Inc	$	8,305
	120,062	*	BorgWarner, Inc		6,318
	8,600	*	Federal Mogul Corp (Class A)		163
	7,302,504	*	Ford Motor Co		89,382
	153,280		Gentex Corp		2,990
	270,627	*	Goodyear Tire & Rubber Co		2,909
	252,903		Harley-Davidson, Inc		7,193
	2,575,650		Johnson Controls, Inc		78,558
	14,410	*	Lear Corp (New)		1,137
	12,900	*	Tesla Motors, Inc		261
	35,974		Thor Industries, Inc		1,202
	304,573	*	TRW Automotive Holdings Corp		12,658
			TOTAL AUTOMOBILES & COMPONENTS		211,076
BANKS - 0.4%
	16,501		Bank of Hawaii Corp		741
	1,419		Capitol Federal Financial		35
	42,487		Hudson City Bancorp, Inc		521
	366,300		US Bancorp		7,919
	1,566,214		Wells Fargo & Co		39,360
			TOTAL BANKS		48,576
CAPITAL GOODS - 10.4%
	768,114		3M Co		66,603
	33,616	*	Aecom Technology Corp		816
	34,986	*	Alliant Techsystems, Inc		2,638
	115,284		Ametek, Inc		5,507
	2,269	*	Armstrong World Industries, Inc		94
	98,416	*	Babcock & Wilcox Co		2,094
	1,311,013		Boeing Co		87,236
	80,787		Bucyrus International, Inc (Class A)		5,603
	5,375		Carlisle Cos, Inc		161
	976,715		Caterpillar, Inc		76,848
	43,833	*	Chicago Bridge & Iron Co NV (ADR)		1,072
	38,453	*	China Ming Yang Wind Power Group Ltd ADS		538
	138,400	*	CNH Global NV		5,071
	357,229		Cooper Industries plc		17,479
	780,605		Cummins, Inc		70,707
	2,113,910		Danaher Corp		85,846
	579,291		Deere & Co		40,423
	85,672		Donaldson Co, Inc		4,038
	259,025		Dover Corp		13,524

203

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	46,206		Eaton Corp	$	3,812
	2,611,229		Emerson Electric Co		137,507
	142,334		Fastenal Co		7,571
	51,215		Flowserve Corp		5,604
	11,862		Fluor Corp		588
	53,251		Gardner Denver, Inc		2,859
	15,559		GATX Corp		456
	19,203	*	General Cable Corp		521
	168,336		General Dynamics Corp		10,573
	2,661,322		General Electric Co		43,246
	201,157		Goodrich Corp		14,831
	65,117		Graco, Inc		2,066
	7,215		Harsco Corp		177
	1,420,977		Honeywell International, Inc		62,438
	25,908		Hubbell, Inc (Class B)		1,315
	72,036		IDEX Corp		2,558
	594,025		Illinois Tool Works, Inc		27,931
	81,113	*	Jacobs Engineering Group, Inc		3,139
	375,491		Joy Global, Inc		26,405
	267,918		KBR, Inc		6,601
	65,651		Kennametal, Inc		2,031
	61,800		L-3 Communications Holdings, Inc		4,466
	50,458		Lennox International, Inc		2,104
	45,745		Lincoln Electric Holdings, Inc		2,645
	439,045		Lockheed Martin Corp		31,295
	141,085		Manitowoc Co, Inc		1,709
	118,054		Masco Corp		1,300
	46,405		MSC Industrial Direct Co (Class A)		2,508
	75,828	*	Navistar International Corp		3,309
	91,450		Northrop Grumman Corp		5,545
	94,461	*	Oshkosh Truck Corp		2,598
	225,152	*	Owens Corning, Inc		5,770
	392,014		Paccar, Inc		18,875
	125,680		Pall Corp		5,233
	110,744		Parker Hannifin Corp		7,759
	55,054		Pentair, Inc		1,851
	470,890		Precision Castparts Corp		59,968
	239,214		Raytheon Co		10,934
	34,627		Regal-Beloit Corp		2,032
	153,182		Rockwell Automation, Inc		9,456
	445,347		Rockwell Collins, Inc		25,941
	585,442		Roper Industries, Inc		38,159
	233,563		Schneider Electric S.A.		29,615
	348,010	*	Shaw Group, Inc		11,679
	17,196	*	Spirit Aerosystems Holdings, Inc (Class A)		343
	76,949		SPX Corp		4,869
	151,289		Textron, Inc		3,111
	11,816	*	Thomas & Betts Corp		485
	211,427		Timken Co		8,110
	37,096		Toro Co		2,086
	51,050		TransDigm Group, Inc		3,168
	653,000	*	Trony Solar Holdings Co Ltd.		379

204

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	78,933		Tyco International Ltd	$	2,899
	990,218		United Technologies Corp		70,533
	29,791	*	USG Corp		393
	84,992		Vallourec		8,443
	23,525		Valmont Industries, Inc		1,703
	67,819		W.W. Grainger, Inc		8,077
	69,208	*	WABCO Holdings, Inc		2,903
	15,597	*	WESCO International, Inc		613
	8,357		Westinghouse Air Brake Technologies Corp		399
			TOTAL CAPITAL GOODS		1,251,792
COMMERCIAL & PROFESSIONAL SERVICES - 0.6%
	274,355		Avery Dennison Corp		10,184
	74,220	*	Copart, Inc		2,447
	14,997	*	Corrections Corp of America		370
	55,829		Dun & Bradstreet Corp		4,139
	40,750	*	FTI Consulting, Inc		1,414
	51,885	*	IHS, Inc (Class A)		3,528
	200,804		Iron Mountain, Inc		4,486
	4,208	*	KAR Auction Services, Inc		53
	155,200		Pitney Bowes, Inc		3,318
	403,627		R.R. Donnelley & Sons Co		6,846
	546,907		Republic Services, Inc		16,674
	162,755		Robert Half International, Inc		4,232
	93,056	*	Stericycle, Inc		6,466
	6,493		Towers Watson & Co		319
	111,033	*	Verisk Analytics, Inc		3,110
	359,596	*	Waste Connections, Inc		14,262
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		81,848
CONSUMER DURABLES & APPAREL - 1.9%
	766,491		Coach, Inc		32,928
	19,043		Fortune Brands, Inc		937
	108,230	*	Fossil, Inc		5,822
	7,368		Garmin Ltd		224
	107,239	*	Hanesbrands, Inc		2,773
	35,558	*	Harman International Industries, Inc		1,188
	760,182		Hasbro, Inc		33,836
	1,009,268		Jarden Corp		31,418
	386,113		Leggett & Platt, Inc		8,788
	528,487		Mattel, Inc		12,398
	7,191	*	Mohawk Industries, Inc		383
	594,479		Newell Rubbermaid, Inc		10,587
	719,369		Nike, Inc (Class B)		57,650
	6,623	*	NVR, Inc		4,289
	518,600		PDG Realty SA		6,176
	60,655		Phillips-Van Heusen Corp		3,649
	59,900		Polo Ralph Lauren Corp (Class A)		5,383
	77,770	*	Tempur-Pedic International, Inc		2,411
	66,737		Tupperware Corp		3,054
	34,247		Whirlpool Corp		2,773
			TOTAL CONSUMER DURABLES & APPAREL		226,667

205

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
CONSUMER SERVICES - 3.0%
	138,469	*	Apollo Group, Inc (Class A)	$	7,111
	59,258	*	Bally Technologies, Inc		2,071
	96,116		Brinker International, Inc		1,813
	98,678		Burger King Holdings, Inc		2,356
	72,162	*	Career Education Corp		1,549
	176,321		Carnival Corp		6,737
	33,808	*	Chipotle Mexican Grill, Inc (Class A)		5,815
	4,633		Choice Hotels International, Inc		169
	418,183		Darden Restaurants, Inc		17,890
	69,496		DeVry, Inc		3,421
	16,100	*	Education Management Corp		236
	146,254		H&R Block, Inc		1,894
	62,083		Hillenbrand, Inc		1,335
	732,000		International Game Technology		10,577
	11,178		International Speedway Corp (Class A)		273
	37,126	*	ITT Educational Services, Inc		2,609
	614,141	*	Las Vegas Sands Corp		21,403
	291,611		Marriott International, Inc (Class A)		10,448
	1,155,923		McDonald’s Corp		86,129
	48,684	*	MGM Mirage		549
	826,931	*	Orient-Express Hotels Ltd (Class A)		9,220
	32,495	*	Panera Bread Co (Class A)		2,879
	226,370	*	Royal Caribbean Cruises Ltd		7,137
	5,540,900	*,f	Sands China Ltd		9,998
	800,655		Starbucks Corp		20,481
	780,748		Starwood Hotels & Resorts Worldwide, Inc		41,028
	15,479		Strayer Education, Inc		2,701
	32,653		Weight Watchers International, Inc		1,018
	152,948		Wendy’s/Arby’s Group, Inc (Class A)		693
	58,906	*	WMS Industries, Inc		2,243
	328,700		Wyndham Worldwide Corp		9,029
	81,051		Wynn Resorts Ltd		7,033
	1,309,973		Yum! Brands, Inc		60,338
			TOTAL CONSUMER SERVICES		358,183
DIVERSIFIED FINANCIALS - 3.3%
	56,799	*	Affiliated Managers Group, Inc		4,431
	1,401,325		American Express Co		58,898
	55,265		Ameriprise Financial, Inc		2,616
	62,020		BlackRock, Inc		10,559
	362,073		Capital One Financial Corp		14,320
	1,057,824		Charles Schwab Corp		14,704
	13,636		CME Group, Inc		3,551
	128,425		Eaton Vance Corp		3,729
	68,560		Federated Investors, Inc (Class B)		1,560
	159,725		Franklin Resources, Inc		17,075
	139,687	*	GLG Partners, Inc		629
	184,467		Goldman Sachs Group, Inc		26,670
	3,900	*	Green Dot Corp		189
	31,669		Greenhill & Co, Inc		2,512

206

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	11,302	*	Interactive Brokers Group, Inc (Class A)	$	195
	79,462	*	IntercontinentalExchange, Inc		8,321
	609,227		Invesco Ltd		12,934
	2,270,750		iShares Russell 1000 Growth Index Fund		116,647
	19,751		Janus Capital Group, Inc		216
	98,827		Lazard Ltd (Class A)		3,467
	219,472		Moody’s Corp		5,482
	1,203,141		Morgan Stanley		29,694
	118,269	*	MSCI, Inc (Class A)		3,928
	16,065	*	Nasdaq Stock Market, Inc		312
	103,683		Northern Trust Corp		5,002
	968,007		NYSE Euronext		27,656
	160,749		SEI Investments Co		3,270
	281,423		T Rowe Price Group, Inc		14,089
	259,459	*	TD Ameritrade Holding Corp		4,190
	94,241		Waddell & Reed Financial, Inc (Class A)		2,578
			TOTAL DIVERSIFIED FINANCIALS		399,424
ENERGY - 8.7%
	17,259	*	Alpha Natural Resources, Inc		710
	259,967		Apache Corp		25,414
	123,536		Arch Coal, Inc		3,300
	61,535	*	Atlas America, Inc		1,762
	12,230	*	Atwood Oceanics, Inc		372
	126,304		Baker Hughes, Inc		5,381
	151,479	*	Cameron International Corp		6,508
	114,357		Chevron Corp		9,269
	90,131		Cimarex Energy Co		5,965
	1,008,831	*	Concho Resources, Inc		66,754
	612,462		ConocoPhillips		35,174
	111,433		Consol Energy, Inc		4,119
	29,942	*	Continental Resources, Inc		1,388
	47,978		Core Laboratories NV		4,224
	1,138,889		Crescent Point Energy Corp		41,963
	1,062,209	*	Denbury Resources, Inc		16,879
	24,038		Diamond Offshore Drilling, Inc		1,629
	82,149	*	Dresser-Rand Group, Inc		3,030
	148,256		El Paso Corp		1,835
	272,000		EOG Resources, Inc		25,288
	148,913		Equitable Resources, Inc		5,370
	157,805		EXCO Resources, Inc		2,347
	9,516	*	Exterran Holdings, Inc		216
	5,601,024		Exxon Mobil Corp		346,086
	132,070	*	FMC Technologies, Inc		9,019
	77,791	*	Forest Oil Corp		2,310
	44,446		Frontline Ltd		1,264
	972,626		Halliburton Co		32,165
	32,429		Holly Corp		932
	203,629		Marathon Oil Corp		6,740
	8,393	*	Mariner Energy, Inc		203
	196,833	*	McDermott International, Inc		2,909
	23,894		Murphy Oil Corp		1,480

207

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	122,266	*	Nabors Industries Ltd	$	2,208
	905,254		National Oilwell Varco, Inc		40,257
	1,087,525		Occidental Petroleum Corp		85,152
	3,700	*	Oil States International, Inc		172
	155,689		Peabody Energy Corp		7,630
	232,009	*	PetroHawk Energy Corp		3,745
	1,416,369		Petroleo Brasileiro S.A. (ADR)		51,372
	75,079	*	Pride International, Inc		2,210
	7,745	*	Quicksilver Resources, Inc		98
	298,763		Range Resources Corp		11,392
	15,777	*	Rowan Cos, Inc		479
	214,100	*	SandRidge Energy, Inc		1,216
	2,033,049		Schlumberger Ltd		125,256
	371,973	*	Southwestern Energy Co		12,439
	45,920		St. Mary Land & Exploration Co		1,720
	486,504		Suncor Energy, Inc (NY)		15,836
	432,500		Tullow Oil plc		8,656
	163,536	*	Ultra Petroleum Corp		6,865
	320,595	*	Weatherford International Ltd		5,482
	3,859	*	Whiting Petroleum Corp		369
	258,769		Williams Cos, Inc		4,945
			TOTAL ENERGY		1,059,504
FOOD & STAPLES RETAILING - 1.5%
	4,731	*	BJ’s Wholesale Club, Inc		196
	473,363		Costco Wholesale Corp		30,527
	162,240		CVS Corp		5,106
	39,482		Kroger Co		855
	635,674		Sysco Corp		18,129
	957,781		Walgreen Co		32,086
	1,770,578		Wal-Mart Stores, Inc		94,762
	149,684	*	Whole Foods Market, Inc		5,555
			TOTAL FOOD & STAPLES RETAILING		187,216
FOOD, BEVERAGE & TOBACCO - 4.7%
	2,793,353		Altria Group, Inc		67,096
	83,228		Brown-Forman Corp (Class B)		5,130
	118,478		Campbell Soup Co		4,236
	2,598,784		Coca-Cola Co		152,081
	212,631		Coca-Cola Enterprises, Inc		6,592
	43,408		ConAgra Foods, Inc		952
	228,008		Dr Pepper Snapple Group, Inc		8,099
	30,667		Flowers Foods, Inc		762
	418,526		General Mills, Inc		15,293
	117,573	*	Green Mountain Coffee Roasters, Inc		3,667
	139,373		H.J. Heinz Co		6,602
	61,337	*	Hansen Natural Corp		2,860
	99,565		Hershey Co		4,738
	793,295		InBev NV		46,665
	248,384		Kellogg Co		12,546
	131,268		Lorillard, Inc		10,542
	70,966		McCormick & Co, Inc		2,983

208

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	54,078		Mead Johnson Nutrition Co	$	3,078
	1,225,526		PepsiCo, Inc		81,424
	2,295,854		Philip Morris International, Inc		128,614
	500,374		Sara Lee Corp		6,720
			TOTAL FOOD, BEVERAGE & TOBACCO		570,680
HEALTH CARE EQUIPMENT & SERVICES - 4.9%
	182,900		Aetna, Inc		5,781
	74,245		Alcon, Inc		12,383
	135,457	*	Allscripts Healthcare Solutions, Inc		2,502
	512,572		AmerisourceBergen Corp		15,715
	102,196		Bard (C.R.), Inc		8,322
	756,163		Baxter International, Inc		36,077
	250,734		Becton Dickinson & Co		18,579
	12,567	*	Brookdale Senior Living, Inc		205
	209,119		Cardinal Health, Inc		6,909
	41,260	*	CareFusion Corp		1,025
	74,723	*	Cerner Corp		6,275
	167,349		Cigna Corp		5,988
	67,295	*	Community Health Systems, Inc		2,084
	9,060		Cooper Cos, Inc		419
	538,388		Covidien plc		21,638
	113,615	*	DaVita, Inc		7,843
	157,539		Dentsply International, Inc		5,037
	532,646	*	Edwards Lifesciences Corp		35,714
	21,500	*	Emdeon, Inc		262
	31,463	*	Emergency Medical Services Corp (Class A)		1,675
	2,246,880	*	Express Scripts, Inc		109,424
	54,320	*	Gen-Probe, Inc		2,632
	283,230	*	Health Management Associates, Inc (Class A)		2,170
	99,640	*	Henry Schein, Inc		5,837
	57,244		Hill-Rom Holdings, Inc		2,054
	255,012	*	Hospira, Inc		14,538
	62,116	*	Idexx Laboratories, Inc		3,834
	154,585	*	Intuitive Surgical, Inc		43,862
	26,409	*	Inverness Medical Innovations, Inc		817
	5,979	*	Kinetic Concepts, Inc		219
	165,856	*	Laboratory Corp of America Holdings		13,008
	480,640		Lincare Holdings, Inc		12,059
	226,869		McKesson Corp		14,016
	654,152	*	Medco Health Solutions, Inc		34,056
	1,312,891		Medtronic, Inc		44,086
	12,700		Omnicare, Inc		303
	111,917		Patterson Cos, Inc		3,206
	45,738	*	Pediatrix Medical Group, Inc		2,438
	138,686		Quest Diagnostics, Inc		6,999
	167,888	*	Resmed, Inc		5,508
	351,194	*	St. Jude Medical, Inc		13,816
	486,311		Stryker Corp		24,340
	64,862	*	SXC Health Solutions Corp		2,366
	6,692		Teleflex, Inc		380
	365,705	*	Tenet Healthcare Corp		1,726

209

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	219,333	*	Thoratec Corp	$	8,111
	254,073		UnitedHealth Group, Inc		8,921
	7,338		Universal Health Services, Inc (Class B)		285
	190,496	*	Varian Medical Systems, Inc		11,525
	93,257	*	VCA Antech, Inc		1,967
	149,008	*	WellPoint, Inc		8,440
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		597,376
HOUSEHOLD & PERSONAL PRODUCTS - 1.9%
	23,279		Alberto-Culver Co		876
	2,545,664		Avon Products, Inc		81,741
	76,876		Church & Dwight Co, Inc		4,992
	137,726		Clorox Co		9,195
	441,100		Colgate-Palmolive Co		33,902
	65,500	*	Energizer Holdings, Inc		4,404
	447,045		Estee Lauder Cos (Class A)		28,267
	199,836		Herbalife Ltd		12,060
	352,266		Kimberly-Clark Corp		22,915
	186,107		Nu Skin Enterprises, Inc (Class A)		5,360
	272,572		Procter & Gamble Co		16,346
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		220,058
INSURANCE - 1.3%
	264,502		ACE Ltd		15,407
	1,439,891		Aflac, Inc		74,457
	3,298	*	Arch Capital Group Ltd		276
	28,640		Arthur J. Gallagher & Co		755
	390,288		Axis Capital Holdings Ltd		12,856
	68,928		Brown & Brown, Inc		1,392
	5,361		Endurance Specialty Holdings Ltd		213
	23,031		Erie Indemnity Co (Class A)		1,291
	98,291	*	Genworth Financial, Inc (Class A)		1,201
	39,855		Hartford Financial Services Group, Inc		915
	531,658		Marsh & McLennan Cos, Inc		12,824
	543,959		Metlife, Inc		20,915
	192,441		Principal Financial Group		4,988
	199,199		Prudential Financial, Inc		10,793
	60,139		Travelers Cos, Inc		3,133
	9,581		Validus Holdings Ltd		253
			TOTAL INSURANCE		161,669
MATERIALS - 4.2%
	226,788		Air Products & Chemicals, Inc		18,783
	89,649		Airgas, Inc		6,092
	17,407		AK Steel Holding Corp		240
	160,033		Albemarle Corp		7,491
	159,902		Alcoa, Inc		1,936
	105,869		Allegheny Technologies, Inc		4,918
	267,509		Anglo American plc (London)		10,613
	237,285		Ashland, Inc		11,572
	127,546		Ball Corp		7,506
	214,712		Barrick Gold Corp		9,939

210

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	47,292		Carpenter Technology Corp	$	1,594
	169,083		Celanese Corp (Series A)		5,428
	222,825		CF Industries Holdings, Inc		21,280
	145,470		Cleveland-Cliffs, Inc		9,298
	377,375		Companhia Vale do Rio Doce (ADR)		11,801
	34,727		Compass Minerals International, Inc		2,661
	173,113	*	Crown Holdings, Inc		4,961
	332,591		Du Pont (E.I.) de Nemours & Co		14,840
	47,103		Eagle Materials, Inc		1,116
	54,354		Eastman Chemical Co		4,022
	251,894		Ecolab, Inc		12,781
	54,038		FMC Corp		3,697
	854,391		Freeport-McMoRan Copper & Gold, Inc (Class B)		72,956
	85,508		International Flavors & Fragrances, Inc		4,149
	689,353		International Paper Co		14,993
	171,862		Lubrizol Corp		18,212
	48,847		Martin Marietta Materials, Inc		3,760
	1,252,417		Monsanto Co		60,027
	331,748		Mosaic Co		19,494
	140,231		Nalco Holding Co		3,535
	770,109		Newmont Mining Corp		48,371
	145,315		Nucor Corp		5,551
	54,853	*	Owens-Illinois, Inc		1,539
	128,108	*	Pactiv Corp		4,225
	27,613		PPG Industries, Inc		2,010
	328,736		Praxair, Inc		29,672
	8,600		Reliance Steel & Aluminum Co		357
	10,633		Royal Gold, Inc		530
	73,422		RPM International, Inc		1,463
	5,112		Schnitzer Steel Industries, Inc (Class A)		247
	49,318		Scotts Miracle-Gro Co (Class A)		2,551
	61,534		Sherwin-Williams Co		4,624
	121,783		Sigma-Aldrich Corp		7,353
	181,779		Southern Copper Corp (NY)		6,384
	21,144		Temple-Inland, Inc		395
	220,505	*	Titanium Metals Corp		4,401
	28,940		United States Steel Corp		1,269
	100,738		Valspar Corp		3,209
	175,662		Walter Energy, Inc		14,280
	96,600	*	WR Grace & Co		2,699
			TOTAL MATERIALS		510,825
MEDIA - 3.2%
	527,948		CBS Corp (Class B)		8,373
	705,885		Comcast Corp (Class A)		12,762
	1,213,605	*	DIRECTV		50,522
	914,152	*	Discovery Communications, Inc (Class A)		39,811
	79,700	*	DreamWorks Animation SKG, Inc (Class A)		2,543
	1,236,826	*	Interpublic Group of Cos, Inc		12,405
	45,056		John Wiley & Sons, Inc (Class A)		1,841
	12,926	*	Lamar Advertising Co (Class A)		411
	20,944	*	Madison Square Garden, Inc		441

211

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	238,347		McGraw-Hill Cos, Inc	$	7,880
	16,481		Meredith Corp		549
	21,551	*	Morningstar, Inc		960
	513,212		News Corp (Class A)		6,703
	2,543,852		Omnicom Group, Inc		100,432
	20,191		Regal Entertainment Group (Class A)		265
	96,209		Scripps Networks Interactive (Class A)		4,578
	4,174,395	*	Sirius XM Radio, Inc		5,009
	129,903		Thomson Corp		4,875
	543,826		Time Warner, Inc		16,668
	918,283		Viacom, Inc (Class B)		33,233
	2,126,042		Walt Disney Co		70,394
			TOTAL MEDIA		380,655
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 6.2%
	1,901,169		Abbott Laboratories		99,317
	2,995	*	Abraxis Bioscience, Inc		232
	95,902	*	Alexion Pharmaceuticals, Inc		6,172
	449,423		Allergan, Inc		29,900
	222,074	*	Amgen, Inc		12,238
	158,749	*	Amylin Pharmaceuticals, Inc		3,310
	111,294	*	BioMarin Pharmaceuticals, Inc		2,487
	71,681	*	Biovail Corp		1,796
	2,256,051	*	Celgene Corp		129,972
	16,998	*	Charles River Laboratories International, Inc		563
	70,407	*	Covance, Inc		3,294
	271,850	*	Dendreon Corp		11,195
	251,425		Eli Lilly & Co		9,185
	200,628	*	Endo Pharmaceuticals Holdings, Inc		6,669
	183,782	*	Forest Laboratories, Inc		5,684
	218,235	*	Genzyme Corp		15,449
	1,320,962	*	Gilead Sciences, Inc		47,039
	635,443	*	Human Genome Sciences, Inc		18,930
	300,354	*	Illumina, Inc		14,777
	661,773		Johnson & Johnson		41,003
	724,028	*	Life Technologies Corp		33,806
	36,513	*	Mettler-Toledo International, Inc		4,544
	1,019,827	*	Mylan Laboratories, Inc		19,183
	106,393	*	Myriad Genetics, Inc		1,746
	157,892		Novartis AG.		9,054
	983,789		Novartis AG. (ADR)		56,735
	346,157		Novo Nordisk A.S. (ADR)		34,076
	56,467		PerkinElmer, Inc		1,307
	199,147		Perrigo Co		12,789
	1,630,736		Pfizer, Inc		28,000
	114,862		Pharmaceutical Product Development, Inc		2,847
	69,710	*	Regeneron Pharmaceuticals, Inc		1,910
	231,353		Shire Ltd		5,212
	55,600	*	Talecris Biotherapeutics Holdings Corp		1,272
	39,780		Techne Corp		2,456
	204,573		Teva Pharmaceutical Industries Ltd (ADR)		10,791
	101,300	*	Thermo Electron Corp		4,850

212

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	51,186	*	United Therapeutics Corp	$	2,867
	214,300	*	Vertex Pharmaceuticals, Inc		7,408
	95,926		Warner Chilcott plc		2,153
	99,849	*	Waters Corp		7,067
	890,419	*	Watson Pharmaceuticals, Inc		37,674
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		746,959
REAL ESTATE - 0.7%
	15,856		AMB Property Corp		420
	61,870		Apartment Investment & Management Co (Class A)		1,323
	305,788	*	CB Richard Ellis Group, Inc (Class A)		5,590
	88,417		Digital Realty Trust, Inc		5,455
	13		Duke Realty Corp		0	^
	19,084		Equity Residential		908
	12,532		Essex Property Trust, Inc		1,372
	39,436		Federal Realty Investment Trust		3,220
	217,447	b	General Growth Properties, Inc		3,392
	44,894		Jones Lang LaSalle, Inc		3,873
	72,067		Plum Creek Timber Co, Inc		2,544
	31,478		Prologis		371
	137,060		Public Storage, Inc		13,300
	26,969		Rayonier, Inc		1,352
	328,830		Simon Property Group, Inc		30,496
	91,635	*	St. Joe Co		2,279
	11,482		UDR, Inc		242
	44,365		Ventas, Inc		2,288
	15,483		Vornado Realty Trust		1,324
			TOTAL REAL ESTATE		79,749
RETAILING - 6.1%
	43,886		Aaron Rents, Inc		810
	72,468		Abercrombie & Fitch Co (Class A)		2,849
	97,148		Advance Auto Parts		5,701
	295,699	*	Aeropostale, Inc		6,875
	847,919	*	Amazon.com, Inc		133,174
	55,345		American Eagle Outfitters, Inc		828
	23,860	*	Autonation, Inc		555
	27,890	*	Autozone, Inc		6,384
	282,846	*	Bed Bath & Beyond, Inc		12,278
	517,517		Best Buy Co, Inc		21,130
	246,028	*	Big Lots, Inc		8,180
	239,226	*	Carmax, Inc		6,665
	186,541		Chico’s FAS, Inc		1,962
	95,230	*	Dick’s Sporting Goods, Inc		2,670
	1,753,761	*	Dollar General Corp		51,298
	222,021	*	Dollar Tree, Inc		10,826
	91,762		Expedia, Inc		2,589
	145,208		Family Dollar Stores, Inc		6,412
	626,229		Gap, Inc		11,673
	64,746		Guess ?, Inc		2,631
	1,817,073		Home Depot, Inc		57,565
	57,369	*	J Crew Group, Inc		1,929

213

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	82,239		JC Penney Co, Inc	$	2,235
	602,034	*	Kohl’s Corp		31,715
	575,028		Limited Brands, Inc		15,399
	150,516	*	LKQ Corp		3,131
	3,215,260		Lowe’s Cos, Inc		71,668
	704,129		Macy’s, Inc		16,258
	44,178	*	NetFlix, Inc		7,164
	1,107,572		Nordstrom, Inc		41,202
	32,342	*	Office Depot, Inc		149
	150,506	*	O’Reilly Automotive, Inc		8,007
	127,224		Petsmart, Inc		4,453
	86,387	*	Priceline.com, Inc		30,092
	330,352		Ross Stores, Inc		18,044
	784,385		Staples, Inc		16,409
	1,394,905		Target Corp		74,544
	134,600		Tiffany & Co		6,325
	814,228		TJX Companies, Inc		36,339
	77,882		Tractor Supply Co		3,089
	130,982	*	Urban Outfitters, Inc		4,118
	102,896		Williams-Sonoma, Inc		3,262
			TOTAL RETAILING		748,587
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.8%
	923,480	*	Advanced Micro Devices, Inc		6,566
	326,779		Altera Corp		9,856
	492,446		Analog Devices, Inc		15,453
	1,443,359		Applied Materials, Inc		16,858
	1,739,535		ARM Holdings plc		10,717
	75,078	*	Atheros Communications, Inc		1,978
	442,557	*	Atmel Corp		3,523
	312,757	*	Avago Technologies Ltd		7,040
	1,747,308		Broadcom Corp (Class A)		61,837
	393,168	*	Cree, Inc		21,345
	176,115	*	Cypress Semiconductor Corp		2,216
	156,109	*	First Solar, Inc		23,003
	5,362,879		Intel Corp		103,128
	51,154		Intersil Corp (Class A)		598
	8,572		Kla-Tencor Corp		302
	295,761	*	Lam Research Corp		12,378
	244,056		Linear Technology Corp		7,500
	2,300,863	*	Marvell Technology Group Ltd		40,288
	320,704		Maxim Integrated Products, Inc		5,936
	101,850	*	MEMC Electronic Materials, Inc		1,214
	190,628		Microchip Technology, Inc		5,995
	1,325,200	*	Micron Technology, Inc		9,555
	232,409		National Semiconductor Corp		2,968
	91,619	*	Novellus Systems, Inc		2,435
	307,677	*	NXP Semiconductors		3,812
	2,307,372	*	Nvidia Corp		26,950
	467,944	*	ON Semiconductor Corp		3,374
	115,533	*	Rambus, Inc		2,408
	49,308	*	Silicon Laboratories, Inc		1,807

214

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	189,840	*	Skyworks Solutions, Inc	$	3,926
	40,943	*	Sunpower Corp (Class A)		590
	680,129	*	Teradyne, Inc		7,577
	700,406		Texas Instruments, Inc		19,009
	80,741	*	Varian Semiconductor Equipment Associates, Inc		2,324
	255,700	*	Veeco Instruments, Inc		8,916
	279,158		Xilinx, Inc		7,428
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		460,810
SOFTWARE & SERVICES - 13.9%
	820,914		Accenture plc		34,881
	150,899		Activision Blizzard, Inc		1,633
	729,301	*	Adobe Systems, Inc		19,071
	405,557	*	Akamai Technologies, Inc		20,351
	214,755	*	Alliance Data Systems Corp		14,015
	418,884	*	Amdocs Ltd		12,005
	95,303	*	Ansys, Inc		4,027
	1,076,182	*	Autodesk, Inc		34,406
	540,577		Automatic Data Processing, Inc		22,720
	475,133	*	Baidu, Inc (ADR)		48,758
	366,493	*	BMC Software, Inc		14,836
	129,927		Broadridge Financial Solutions, Inc		2,971
	337,821		CA, Inc		7,135
	282,255	*	Cadence Design Systems, Inc		2,154
	17,672	*	ChinaCache International Holdings Ltd. (ADR)		246
	200,659	*	Citrix Systems, Inc		13,693
	323,138	*	Cognizant Technology Solutions Corp (Class A)		20,833
	136,920	*	Compuware Corp		1,168
	103,699		DST Systems, Inc		4,650
	467,836	*	eBay, Inc		11,415
	336,741	*	Electronic Arts, Inc		5,533
	47,975	*	Equinix, Inc		4,910
	50,101		Factset Research Systems, Inc		4,065
	109,435	*	Fiserv, Inc		5,890
	78,446	*	Gartner, Inc		2,309
	69,004	*	Genpact Ltd		1,223
	89,560		Global Payments, Inc		3,841
	620,187	*	Google, Inc (Class A)		326,089
	99,572	*	Hewitt Associates, Inc (Class A)		5,021
	282,716	*	IAC/InterActiveCorp		7,427
	98,695	*	Informatica Corp		3,791
	1,896,005		International Business Machines Corp		254,331
	2,088,485	*	Intuit, Inc		91,497
	489		Kakaku.com, Inc		2,832
	105,264		Lender Processing Services, Inc		3,498
	299,525		Mastercard, Inc (Class A)		67,094
	169,598	*	McAfee, Inc		8,015
	88,024	*	Micros Systems, Inc		3,726
	8,726,797		Microsoft Corp		213,718
	70,356	*	Monster Worldwide, Inc		912
	78,954	*	NeuStar, Inc (Class A)		1,963
	1,042,325	*	Nuance Communications, Inc		16,302

215

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	6,331,671		Oracle Corp	$	170,004
	347,286		Paychex, Inc		9,547
	793,669	*	Red Hat, Inc		32,540
	109,406	*	Rovi Corp		5,515
	324,477	*	SAIC, Inc		5,185
	147,112	*	Salesforce.com, Inc		16,447
	72,734		Solera Holdings, Inc		3,212
	921,783	*	Symantec Corp		13,983
	15,348	*	Synopsys, Inc		380
	178,553	*	Teradata Corp		6,885
	196,072	*	VeriSign, Inc		6,223
	617,225		Visa, Inc (Class A)		45,835
	47,001	*	VistaPrint Ltd		1,817
	113,304	*	VMware, Inc (Class A)		9,624
	58,100	*	WebMD Health Corp (Class A)		2,897
	722,172		Western Union Co		12,761
	1,230,550	*	Yahoo!, Inc		17,437
			TOTAL SOFTWARE & SERVICES		1,685,247
TECHNOLOGY HARDWARE & EQUIPMENT - 14.2%
	1,023,613	*	Agilent Technologies, Inc		34,159
	186,561		Amphenol Corp (Class A)		9,138
	2,056,994	*	Apple, Inc		583,671
	16,004	*	Arrow Electronics, Inc		428
	409,196		AVX Corp		5,655
	99,536	*	Ciena Corp		1,550
	15,242,318	*	Cisco Systems, Inc		333,806
	1,140,360		Corning, Inc		20,846
	2,131,371	*	Dell, Inc		27,623
	15,278		Diebold, Inc		475
	206,784	*	Dolby Laboratories, Inc (Class A)		11,747
	3,624,756	*	EMC Corp		73,619
	86,772	*	F5 Networks, Inc		9,008
	75,100	*	Finisar Corp		1,411
	166,669	*	Flir Systems, Inc		4,283
	392,135		Harris Corp		17,368
	5,086,728		Hewlett-Packard Co		213,999
	10,457	*	Ingram Micro, Inc (Class A)		176
	40,525	*	Itron, Inc		2,481
	136,797		Jabil Circuit, Inc		1,971
	808,761	*	JDS Uniphase Corp		10,021
	2,749,213	*	Juniper Networks, Inc		83,439
	62,036		National Instruments Corp		2,026
	174,336	*	NCR Corp		2,376
	731,201	*	NetApp, Inc		36,406
	91,571	*	Polycom, Inc		2,498
	123,301	*	QLogic Corp		2,175
	3,892,647		Qualcomm, Inc		175,636
	578,351	*	SanDisk Corp		21,197
	378,030	*	Seagate Technology, Inc		4,453
	131,714	*	Trimble Navigation Ltd		4,615
	56,406	*	Western Digital Corp		1,601

216

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	817,339		Xerox Corp	$	8,459
	38,631	*	Zebra Technologies Corp (Class A)		1,300
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,709,616
TELECOMMUNICATION SERVICES - 0.5%
	433,549	*	American Tower Corp (Class A)		22,223
	121,210	*	Clearwire Corp (Class A)		981
	310,428	*	Crown Castle International Corp		13,705
	374,510		Frontier Communications Corp		3,059
	663,187	*	Level 3 Communications, Inc		622
	819,791	*	MetroPCS Communications, Inc		8,575
	141,749	*	NII Holdings, Inc (Class B)		5,826
	129,526	*	SBA Communications Corp (Class A)		5,220
	164,062	*	tw telecom inc (Class A)		3,047
	225,601		Windstream Corp		2,773
			TOTAL TELECOMMUNICATION SERVICES		66,031
TRANSPORTATION - 2.2%
	115,841	*	AMR Corp		726
	178,861		CH Robinson Worldwide, Inc		12,506
	153,840	*	Continental Airlines, Inc (Class B)		3,821
	4,550		Con-way, Inc		141
	21,025		Copa Holdings S.A. (Class A)		1,133
	222,418		CSX Corp		12,304
	857,774	*	Delta Air Lines, Inc		9,985
	230,486		Expeditors International Washington, Inc		10,655
	217,358		FedEx Corp		18,584
	177,850	*	Hertz Global Holdings, Inc		1,883
	95,257		J.B. Hunt Transport Services, Inc		3,305
	63,559	*	Kansas City Southern Industries, Inc		2,378
	4,225	*	Kirby Corp		169
	54,882		Landstar System, Inc		2,120
	282,781		Norfolk Southern Corp		16,828
	171,860		Ryder System, Inc		7,350
	106,277		Southwest Airlines Co		1,389
	351,354	*	UAL Corp		8,303
	323,581		Union Pacific Corp		26,470
	1,928,107		United Parcel Service, Inc (Class B)		128,585
	98,729		UTI Worldwide, Inc		1,588
			TOTAL TRANSPORTATION		270,223
UTILITIES - 0.2%
	174,421	*	Calpine Corp		2,172
	47,308		ITC Holdings Corp		2,945
	185,100		NextEra Energy, Inc		10,067
	10,707		Ormat Technologies, Inc		312
	316,589		Public Service Enterprise Group, Inc		10,473
			TOTAL UTILITIES		25,969
			TOTAL COMMON STOCKS		12,058,740
			(Cost $10,748,708)

217

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

PRINCIPAL		ISSUER		VALUE (000)
SHORT-TERM INVESTMENTS - 0.2%
GOVERNMENT AGENCY DEBT - 0.2%
		Federal Home Loan Bank (FHLB)
$     10,000,000		FHLB	10/01/10	$	10,000
	12,600,000	FHLB	10/20/10		12,600
		TOTAL GOVERNMENT AGENCY DEBT			22,600
TREASURY DEBT - 0.0%
	850,000	United States Treasury Bill	11/12/10		850
		TOTAL TREASURY DEBT			850
		TOTAL SHORT-TERM INVESTMENTS			23,450
		(Cost $23,450)
		TOTAL INVESTMENTS - 99.7%			12,082,190
		(Cost $10,772,158)
		OTHER ASSETS & LIABILITIES, NET - 0.3%			36,313
		NET ASSETS - 100.0%		$	12,118,503

	Abbreviation(s):
ADR	American Depositary Receipt
ADS	American Depository Shares
*	Non-income producing.
^	Amount represents less than $1,000.
b	In bankruptcy
f	Restricted security
	Cost amounts are in thousands.

218

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND
EQUITY INDEX ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2010

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.8%
AUTOMOBILES & COMPONENTS - 0.8%
	47,981	*	American Axle & Manufacturing Holdings, Inc	$	433
	15,097	*	Amerigon, Inc (Class A)		155
	65,947	*	Autoliv, Inc		4,308
	89,459	*	BorgWarner, Inc		4,708
	45,804		Cooper Tire & Rubber Co		899
	100,188	*	Dana Holding Corp		1,234
	7,682	*	Dorman Products, Inc		237
	16,941	*	Drew Industries, Inc		353
	58,919	*	Exide Technologies		282
	13,635	*	Federal Mogul Corp (Class A)		258
	2,545,780	*	Ford Motor Co		31,161
	10,861	*	Fuel Systems Solutions, Inc		425
	105,796		Gentex Corp		2,064
	179,126	*	Goodyear Tire & Rubber Co		1,926
	181,591		Harley-Davidson, Inc		5,164
	515,188		Johnson Controls, Inc		15,714
	35,702	*	Lear Corp (New)		2,818
	36,302	*	Modine Manufacturing Co		471
	30,024		Spartan Motors, Inc		139
	11,969		Standard Motor Products, Inc		126
	10,374	*	Stoneridge, Inc		109
	17,715		Superior Industries International, Inc		306
	46,120	*	Tenneco, Inc		1,336
	11,700	*	Tesla Motors, Inc		237
	25,787		Thor Industries, Inc		861
	60,301	*	TRW Automotive Holdings Corp		2,506
	24,826	*	Winnebago Industries, Inc		259
			TOTAL AUTOMOBILES & COMPONENTS		78,489
BANKS - 3.2%
	11,459		1st Source Corp		199
	17,104	*	1st United Bancorp, Inc		110
	17,560		Abington Bancorp, Inc		185
	3,251		Alliance Financial Corp		98
	4,510		American National Bankshares, Inc		99
	18,171		Ameris Bancorp		170
	4,648		Ames National Corp		93
	6,723		Arrow Financial Corp		169
	128,285		Associated Banc-Corp		1,692
	66,701		Astoria Financial Corp		909
	5,016		Bancfirst Corp		203
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		310

219

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	2,914		Bancorp Rhode Island, Inc	$	81
	64,583		Bancorpsouth, Inc		916
	41,404		Bank Mutual Corp		215
	35,426		Bank of Hawaii Corp		1,591
	3,864		Bank of Marin Bancorp		125
	11,413		Bank of the Ozarks, Inc		423
	17,629		BankFinancial Corp		162
	527,029		BB&T Corp		12,692
	23,421	*	Beneficial Mutual Bancorp, Inc		210
	10,481		Berkshire Hills Bancorp, Inc		199
	5,599	*	BofI Holding, Inc		66
	19,305		BOK Financial Corp		871
	59,217		Boston Private Financial Holdings, Inc		387
	4,741		Bridge Bancorp, Inc		118
	48,082		Brookline Bancorp, Inc		480
	4,771		Bryn Mawr Bank Corp		82
	5,527		Camden National Corp		192
	9,158		Capital City Bank Group, Inc		111
	246,176		CapitalSource, Inc		1,315
	16,284		Capitol Federal Financial		402
	18,053		Cardinal Financial Corp		173
	61,647		Cathay General Bancorp		733
	27,645	*	Center Financial		141
	16,756		Centerstate Banks of Florida, Inc		144
	2,883		Century Bancorp, Inc		69
	18,856		Chemical Financial Corp		389
	153,256	*	CIT Group, Inc		6,256
	6,398		Citizens & Northern Corp		83
	306,766	*	Citizens Republic Bancorp, Inc		276
	12,921		City Holding Co		396
	35,113		City National Corp		1,863
	10,007		Clifton Savings Bancorp, Inc		86
	6,672		CNB Financial Corp		92
	21,290		CoBiz, Inc		118
	31,348		Columbia Banking System, Inc		616
	134,008		Comerica, Inc		4,978
	54,830		Commerce Bancshares, Inc		2,061
	24,981		Community Bank System, Inc		575
	11,562		Community Trust Bancorp, Inc		313
	39,033		Cullen/Frost Bankers, Inc		2,103
	67,239		CVB Financial Corp		505
	17,535		Danvers Bancorp, Inc		269
	19,824		Dime Community Bancshares		275
	24,100	*	Doral Financial Corp		40
	12,747	*	Eagle Bancorp, Inc		146
	116,790		East West Bancorp, Inc		1,901
	6,100	*	Encore Bancshares, Inc		44
	11,656		Enterprise Financial Services Corp		108
	6,988		ESB Financial Corp		97
	12,436		ESSA Bancorp, Inc		147
	7,387		Federal Agricultural Mortgage Corp (Class C)		80
	607,123		Fifth Third Bancorp		7,304

220

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,979		Financial Institutions, Inc	$	141
	9,860		First Bancorp (NC)		134
	78,912	*	First Bancorp (Puerto Rico)		22
	6,485		First Bancorp, Inc		90
	40,118		First Busey Corp		183
	4,158		First Citizens Bancshares, Inc (Class A)		770
	69,775		First Commonwealth Financial Corp		380
	12,139		First Community Bancshares, Inc		157
	44,691		First Financial Bancorp		745
	15,680		First Financial Bankshares, Inc		737
	8,954		First Financial Corp		264
	12,966		First Financial Holdings, Inc		144
	179,248	*	First Horizon National Corp		2,045
	9,546		First Interstate Bancsystem, Inc		128
	19,481		First Merchants Corp		149
	57,533		First Midwest Bancorp, Inc		663
	161,278		First Niagara Financial Group, Inc		1,879
	4,191		First of Long Island Corp		105
	5,157		First South Bancorp, Inc		51
	83,246		FirstMerit Corp		1,525
	35,463	*	Flagstar Bancorp, Inc		65
	19,779		Flushing Financial Corp		229
	87,796		FNB Corp		752
	4,602	*	Fox Chase Bancorp, Inc		44
	152,821		Fulton Financial Corp		1,385
	8,476		German American Bancorp, Inc		145
	56,600		Glacier Bancorp, Inc		826
	7,809		Great Southern Bancorp, Inc		170
	9,301	*	Greene County Bancshares, Inc		63
	22,696		Hancock Holding Co		682
	36,699	*	Hanmi Financial Corp		47
	10,342		Heartland Financial USA, Inc		159
	4,346	*	Heritage Financial Corp		61
	6,749	*	Home Bancorp, Inc		90
	14,896		Home Bancshares, Inc		303
	12,641		Home Federal Bancorp, Inc		154
	357,734		Hudson City Bancorp, Inc		4,385
	9,104		Hudson Valley Holding Corp		178
	553,330		Huntington Bancshares, Inc		3,137
	20,591		IBERIABANK Corp		1,029
	17,904		Independent Bank Corp		403
	40,567		International Bancshares Corp		685
	37,852	*	Investors Bancorp, Inc		448
	14,732		Kearny Financial Corp		130
	667,379		Keycorp		5,312
	13,792		Lakeland Bancorp, Inc		116
	12,420		Lakeland Financial Corp		232
	55,756		M&T Bank Corp		4,561
	11,504		MainSource Financial Group, Inc		88
	406,126		Marshall & Ilsley Corp		2,859
	38,744		MB Financial, Inc		628
	3,784		Merchants Bancshares, Inc		94

221

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,250	*	Meridian Interstate Bancorp, Inc	$	76
	155,567	*	MGIC Investment Corp		1,436
	3,556		Midsouth Bancorp, Inc		50
	5,267		MidWestOne Financial Group, Inc		77
	25,640	*	Nara Bancorp, Inc		181
	1,893		NASB Financial, Inc		31
	5,351		National Bankshares, Inc		138
	101,297		National Penn Bancshares, Inc		633
	27,027		NBT Bancorp, Inc		596
	331,783		New York Community Bancorp, Inc		5,390
	78,585		NewAlliance Bancshares, Inc		992
	14,313		Northfield Bancorp, Inc		155
	82,283		Northwest Bancshares, Inc		921
	10,808		OceanFirst Financial Corp		133
	57,265	*	Ocwen Financial Corp		581
	67,288		Old National Bancorp		707
	9,164	*	OmniAmerican Bancorp, Inc		103
	33,903		Oriental Financial Group, Inc		451
	22,554		Oritani Financial Corp		225
	3,841		Orrstown Financial Services, Inc		89
	14,467		Pacific Continental Corp		131
	22,250		PacWest Bancorp		424
	9,591		Park National Corp		614
	6,295		Peapack Gladstone Financial Corp		74
	2,964		Penns Woods Bancorp, Inc		98
	10,509	*	Pennsylvania Commerce Bancorp, Inc		109
	6,808		Peoples Bancorp, Inc		84
	280,419		People’s United Financial, Inc		3,671
	25,469	*	Pinnacle Financial Partners, Inc		234
	120,947	*	PMI Group, Inc		444
	401,473		PNC Financial Services Group, Inc		20,841
	772,337	*	Popular, Inc		2,240
	39,968		PrivateBancorp, Inc		455
	35,938		Prosperity Bancshares, Inc		1,167
	45,191		Provident Financial Services, Inc		559
	30,181		Provident New York Bancorp		253
	102,881		Radian Group, Inc		805
	958,718		Regions Financial Corp		6,970
	15,054		Renasant Corp		229
	6,104		Republic Bancorp, Inc (Class A)		129
	6,115		Rockville Financial, Inc		70
	7,271		Roma Financial Corp		77
	20,998		S&T Bancorp, Inc		366
	8,198		S.Y. Bancorp, Inc		203
	18,232		Sandy Spring Bancorp, Inc		283
	9,604		SCBT Financial Corp		300
	3,786		Sierra Bancorp		47
	32,119	*	Signature Bank		1,248
	13,207		Simmons First National Corp (Class A)		373
	11,054		Southside Bancshares, Inc		209
	14,769		Southwest Bancorp, Inc		192
	10,282		State Bancorp, Inc		92

222

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	16,183		StellarOne Corp	$	206
	27,752		Sterling Bancorp		241
	75,734		Sterling Bancshares, Inc		407
	7,140		Suffolk Bancorp		181
	382,258		SunTrust Banks, Inc		9,875
	102,135		Susquehanna Bancshares, Inc		862
	31,722	*	SVB Financial Group		1,342
	597,443		Synovus Financial Corp		1,470
	7,584	*	Taylor Capital Group, Inc		87
	110,460		TCF Financial Corp		1,788
	9,400		Territorial Bancorp, Inc		158
	31,378	*	Texas Capital Bancshares, Inc		542
	54,301		TFS Financial Corp		499
	16,995	*	The Bancorp, Inc		114
	7,054		Tompkins Trustco, Inc		280
	2,692		Tower Bancorp, Inc		55
	17,850		TowneBank		267
	9,919		Trico Bancshares		152
	62,026		Trustco Bank Corp NY		345
	49,168		Trustmark Corp		1,069
	24,801		UMB Financial Corp		881
	91,424		Umpqua Holdings Corp		1,037
	14,087		Union Bankshares Corp		184
	30,662		United Bankshares, Inc		763
	79,410	*	United Community Banks, Inc		178
	15,445		United Financial Bancorp, Inc		209
	12,704		Univest Corp of Pennsylvania		222
	1,463,843		US Bancorp		31,649
	124,246		Valley National Bancorp		1,603
	10,582		ViewPoint Financial Group		98
	14,744	*	Virginia Commerce Bancorp		72
	12,184		Washington Banking Co		169
	86,794		Washington Federal, Inc		1,324
	10,818		Washington Trust Bancorp, Inc		207
	7,507	*	Waterstone Financial, Inc		30
	52,669		Webster Financial Corp		925
	3,714,650		Wells Fargo & Co		93,350
	19,012		WesBanco, Inc		311
	11,970	*	West Bancorporation, Inc		75
	72,421	*	West Coast Bancorp		165
	22,101		Westamerica Bancorporation		1,204
	49,360	*	Western Alliance Bancorp		331
	23,121		Westfield Financial, Inc		180
	75,084		Whitney Holding Corp		613
	71,613		Wilmington Trust Corp		643
	15,017		Wilshire Bancorp, Inc		98
	23,649		Wintrust Financial Corp		766
	4,467		WSFS Financial Corp		168
	132,472		Zions Bancorporation		2,830
			TOTAL BANKS		313,209

223

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
CAPITAL GOODS - 8.3%
	10,702	*	3D Systems Corp	$	168
	544,621		3M Co		47,224
	18,257		A.O. Smith Corp		1,057
	56,277	*	A123 Systems, Inc		505
	8,853		Aaon, Inc		208
	29,552	*	AAR Corp		551
	17,815		Aceto Corp		121
	52,376		Actuant Corp (Class A)		1,203
	33,751		Acuity Brands, Inc		1,493
	49,842	*	Advanced Battery Technologies, Inc		179
	75,836	*	Aecom Technology Corp		1,840
	14,335	*	Aerovironment, Inc		319
	69,519	*	AGCO Corp		2,712
	39,824		Aircastle Ltd		338
	4,490		Alamo Group, Inc		100
	23,047		Albany International Corp (Class A)		436
	24,185	*	Alliant Techsystems, Inc		1,824
	18,705	*	Altra Holdings, Inc		276
	7,032	*	American Railcar Industries, Inc		110
	6,336		American Science & Engineering, Inc		467
	33,594	*	American Superconductor Corp		1,045
	8,518		American Woodmark Corp		151
	7,062		Ameron International Corp		480
	82,104		Ametek, Inc		3,922
	8,632		Ampco-Pittsburgh Corp		214
	25,458		Apogee Enterprises, Inc		233
	63,204	*	Applied Energetics, Inc		71
	32,556		Applied Industrial Technologies, Inc		996
	12,026		Applied Signal Technology, Inc		299
	5,631	*	Argan, Inc		53
	16,319	*	Armstrong World Industries, Inc		677
	73,192	*	ArvinMeritor, Inc		1,137
	15,638	*	Astec Industries, Inc		446
	7,057	*	Astronics Corp		123
	10,559		AZZ, Inc		452
	88,162	*	Babcock & Wilcox Co		1,876
	9,764		Badger Meter, Inc		395
	35,945		Baldor Electric Co		1,452
	36,508		Barnes Group, Inc		642
	74,030	*	BE Aerospace, Inc		2,244
	35,044	*	Beacon Roofing Supply, Inc		511
	36,981		Belden CDT, Inc		976
	35,059	*	Blount International, Inc		446
	579,697		Boeing Co		38,572
	37,869		Brady Corp (Class A)		1,105
	39,839		Briggs & Stratton Corp		757
	71,104	*	Broadwind Energy, Inc		133
	57,920		Bucyrus International, Inc (Class A)		4,017
	22,099	*	Builders FirstSource, Inc		50
	9,868	*	CAI International, Inc		150
	185,893	*	Capstone Turbine Corp		144
	46,691		Carlisle Cos, Inc		1,398

224

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,145		Cascade Corp	$	259
	479,716		Caterpillar, Inc		37,744
	19,382	*	Ceradyne, Inc		453
	23,060	*	Chart Industries, Inc		470
	76,040	*	Chicago Bridge & Iron Co NV (ADR)		1,859
	12,832		CIRCOR International, Inc		405
	38,968		Clarcor, Inc		1,505
	19,959	*	CNH Global NV		731
	23,883	*	Colfax Corp		355
	12,813	*	Columbus McKinnon Corp		213
	33,040		Comfort Systems USA, Inc		355
	18,507	*	Commercial Vehicle Group, Inc		188
	129,157		Cooper Industries plc		6,320
	38,179		Crane Co		1,449
	12,848		Cubic Corp		524
	153,361		Cummins, Inc		13,891
	35,284		Curtiss-Wright Corp		1,069
	405,066		Danaher Corp		16,450
	323,929		Deere & Co		22,604
	18,325	*	DigitalGlobe, Inc		557
	58,727		Donaldson Co, Inc		2,768
	9,037		Douglas Dynamics, Inc		112
	142,151		Dover Corp		7,422
	7,637		Ducommun, Inc		166
	5,160	*	DXP Enterprises, Inc		98
	32,076	*	Dycom Industries, Inc		320
	12,440		Dynamic Materials Corp		188
	127,968		Eaton Corp		10,556
	50,074	*	EMCOR Group, Inc		1,231
	575,013		Emerson Electric Co		30,279
	15,305		Encore Wire Corp		314
	37,016	*	Ener1, Inc		136
	25,675	*	Energy Recovery, Inc		92
	37,162	*	EnerSys		928
	15,889	*	EnPro Industries, Inc		497
	20,938		ESCO Technologies, Inc		696
	22,100	*	Esterline Technologies Corp		1,265
	102,129		Fastenal Co		5,431
	50,117		Federal Signal Corp		270
	26,655	*	Flow International Corp		70
	43,235		Flowserve Corp		4,731
	136,071		Fluor Corp		6,741
	56,935	*	Force Protection, Inc		287
	19,315		Franklin Electric Co, Inc		640
	12,439		Freightcar America, Inc		306
	46,577	*	FuelCell Energy, Inc		57
	25,764	*	Furmanite Corp		126
	39,732		Gardner Denver, Inc		2,133
	35,871		GATX Corp		1,052
	42,477	*	GenCorp, Inc		209
	14,500	*	Generac Holdings, Inc		198
	40,126	*	General Cable Corp		1,088

225

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	264,727		General Dynamics Corp	$	16,628
	8,149,886		General Electric Co		132,437
	16,043	*	GeoEye, Inc		649
	20,138	*	Gibraltar Industries, Inc		181
	3,945	*	Global Defense Technology & Systems, Inc		54
	96,547		Goodrich Corp		7,118
	10,363		Gorman-Rupp Co		286
	46,150		Graco, Inc		1,464
	92,133	*	GrafTech International Ltd		1,440
	12,308		Graham Corp		191
	26,732		Granite Construction, Inc		608
	44,924		Great Lakes Dredge & Dock Corp		261
	15,267	*	Greenbrier Cos, Inc		238
	37,869	*	Griffon Corp		462
	21,180	*	H&E Equipment Services, Inc		169
	61,544		Harsco Corp		1,513
	4,401	*	Hawk Corp		190
	22,583		Heico Corp		1,031
	9,696	*	Herley Industries, Inc		160
	74,803	*	Hexcel Corp		1,331
	586,774		Honeywell International, Inc		25,783
	12,024		Houston Wire & Cable Co		121
	46,993		Hubbell, Inc (Class B)		2,385
	62,789		IDEX Corp		2,230
	18,167	*	II-VI, Inc		678
	337,653		Illinois Tool Works, Inc		15,876
	245,948		Ingersoll-Rand plc		8,783
	28,439	*	Insituform Technologies, Inc (Class A)		688
	10,094		Insteel Industries, Inc		91
	27,412	*	Interline Brands, Inc		495
	139,710		ITT Industries, Inc		6,543
	96,369	*	Jacobs Engineering Group, Inc		3,729
	20,027		John Bean Technologies Corp		323
	77,648		Joy Global, Inc		5,460
	9,545	*	Kadant, Inc		180
	21,747		Kaman Corp		570
	25,319		Kaydon Corp		876
	120,549		KBR, Inc		2,970
	62,712		Kennametal, Inc		1,940
	12,312	*	Kratos Defense & Security Solutions, Inc		131
	88,071		L-3 Communications Holdings, Inc		6,365
	8,713	*	LaBarge, Inc		109
	12,010	*	Ladish Co, Inc		374
	3,000		Lawson Products, Inc		46
	13,874	*	Layne Christensen Co		359
	7,262	*	LB Foster Co (Class A)		210
	36,321		Lennox International, Inc		1,514
	32,522		Lincoln Electric Holdings, Inc		1,880
	10,010		Lindsay Manufacturing Co		434
	6,398	*	LMI Aerospace, Inc		102
	235,579		Lockheed Martin Corp		16,792
	12,960		LSI Industries, Inc		83

226

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,907	*	Lydall, Inc	$	95
	100,971		Manitowoc Co, Inc		1,223
	276,648		Masco Corp		3,045
	39,968	*	Mastec, Inc		412
	10,825		Met-Pro Corp		109
	7,039	*	Michael Baker Corp		232
	11,402	*	Middleby Corp		723
	7,280		Miller Industries, Inc		98
	36,229	*	Moog, Inc (Class A)		1,286
	32,978		MSC Industrial Direct Co (Class A)		1,782
	27,916		Mueller Industries, Inc		739
	119,077		Mueller Water Products, Inc (Class A)		360
	13,261	*	MYR Group, Inc		217
	4,424		Nacco Industries, Inc (Class A)		387
	54,093	*	Navistar International Corp		2,361
	19,754	*	NCI Building Systems, Inc		188
	25,402		Nordson Corp		1,872
	230,154		Northrop Grumman Corp		13,954
	8,845	*	Northwest Pipe Co		155
	44,747	*	Orbital Sciences Corp		685
	19,593	*	Orion Marine Group, Inc		243
	69,175	*	Oshkosh Truck Corp		1,902
	86,991	*	Owens Corning, Inc		2,230
	279,419		Paccar, Inc		13,454
	90,130		Pall Corp		3,753
	124,237		Parker Hannifin Corp		8,704
	76,198		Pentair, Inc		2,563
	20,289	*	Perini Corp		408
	12,323	*	Pike Electric Corp		90
	9,152	*	PMFG, Inc		156
	16,989	*	Polypore International, Inc		512
	5,761	*	Powell Industries, Inc		179
	12,071	*	PowerSecure International, Inc		112
	108,623		Precision Castparts Corp		13,833
	1,801		Preformed Line Products Co		63
	15,193		Primoris Services Corp		99
	28,579		Quanex Building Products Corp		494
	162,009	*	Quanta Services, Inc		3,091
	11,399		Raven Industries, Inc		432
	291,873		Raytheon Co		13,342
	16,219	*	RBC Bearings, Inc		551
	29,680		Regal-Beloit Corp		1,742
	19,984		Robbins & Myers, Inc		535
	108,440		Rockwell Automation, Inc		6,694
	119,776		Rockwell Collins, Inc		6,977
	70,748		Roper Industries, Inc		4,611
	34,156	*	RSC Holdings, Inc		255
	21,664	*	Rush Enterprises, Inc (Class A)		332
	38,773	*	SatCon Technology Corp		146
	8,767	*	Sauer-Danfoss, Inc		187
	269		Seaboard Corp		476
	65,055	*	Shaw Group, Inc		2,183

227

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	29,264		Simpson Manufacturing Co, Inc	$	754
	44,614		Snap-On, Inc		2,075
	78,916	*	Spirit Aerosystems Holdings, Inc (Class A)		1,573
	37,552		SPX Corp		2,376
	11,927		Standex International Corp		289
	12,518	*	Sterling Construction Co, Inc		155
	7,928		Sun Hydraulics Corp		223
	11,400		TAL International Group, Inc		276
	44,785	*	Taser International, Inc		174
	10,545	*	Tecumseh Products Co (Class A)		121
	25,868	*	Teledyne Technologies, Inc		1,030
	14,645		Tennant Co		453
	83,705	*	Terex Corp		1,919
	7,088		Textainer Group Holdings Ltd		190
	208,523		Textron, Inc		4,287
	6,876	*	Thermadyne Holdings Corp		97
	39,026	*	Thomas & Betts Corp		1,601
	66,676		Timken Co		2,558
	26,971		Titan International, Inc		366
	10,213	*	Titan Machinery, Inc		166
	24,372		Toro Co		1,370
	37,710		TransDigm Group, Inc		2,340
	19,671		Tredegar Corp		373
	13,203	*	Trex Co, Inc		252
	9,351	*	Trimas Corp		139
	61,064		Trinity Industries, Inc		1,360
	12,884		Triumph Group, Inc		961
	6,504		Twin Disc, Inc		91
	388,511		Tyco International Ltd		14,270
	49,976	*	United Rentals, Inc		742
	712,624		United Technologies Corp		50,759
	14,766		Universal Forest Products, Inc		432
	28,442	*	UQM Technologies, Inc		73
	63,954	*	URS Corp		2,429
	51,472	*	USG Corp		679
	16,747		Valmont Industries, Inc		1,212
	12,845		Vicor Corp		188
	46,924		W.W. Grainger, Inc		5,588
	47,045	*	Wabash National Corp		381
	50,291	*	WABCO Holdings, Inc		2,109
	20,486		Watsco, Inc		1,141
	20,344		Watts Water Technologies, Inc (Class A)		693
	32,103	*	WESCO International, Inc		1,261
	34,990		Westinghouse Air Brake Technologies Corp		1,672
	46,042		Woodward Governor Co		1,493
	5,984	*,b	Xerium Technologies, Inc		79
			TOTAL CAPITAL GOODS		821,679
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
	37,566		ABM Industries, Inc		811
	24,912	*	Acacia Research (Acacia Technologies)		438
	34,106	*	ACCO Brands Corp		196

228

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	16,355		Administaff, Inc	$	440
	13,465	*	Advisory Board Co		594
	14,202		American Ecology Corp		227
	26,021	*	American Reprographics Co		204
	20,202	*	APAC Customer Services, Inc		114
	14,702	*	ATC Technology Corp		364
	85,225		Avery Dennison Corp		3,164
	6,166		Barrett Business Services, Inc		94
	31,292		Bowne & Co, Inc		355
	34,810		Brink’s Co		801
	19,056	*	Casella Waste Systems, Inc (Class A)		80
	41,673	*	CBIZ, Inc		247
	7,981		CDI Corp		103
	38,005	*	Cenveo, Inc		191
	101,777		Cintas Corp		2,804
	17,301	*	Clean Harbors, Inc		1,172
	8,210	*	Consolidated Graphics, Inc		340
	55,676	*	Copart, Inc		1,836
	27,057		Corporate Executive Board Co		854
	88,315	*	Corrections Corp of America		2,180
	14,866	*	CoStar Group, Inc		724
	6,267		Courier Corp		89
	99,005		Covanta Holding Corp		1,559
	8,400	*	CRA International, Inc		152
	37,676		Deluxe Corp		721
	23,101	*	Dolan Media Co		263
	37,642		Dun & Bradstreet Corp		2,791
	67,718		EnergySolutions, Inc		341
	15,147	*	EnerNOC, Inc		476
	17,307		Ennis, Inc		310
	97,566		Equifax, Inc		3,044
	11,236	*	Exponent, Inc		377
	9,375	*	Franklin Covey Co		75
	36,298	*	FTI Consulting, Inc		1,259
	12,288	*	Fuel Tech, Inc		77
	15,088		G & K Services, Inc (Class A)		345
	46,319	*	Geo Group, Inc		1,082
	12,104	*	GP Strategies Corp		110
	33,142		Healthcare Services Group		755
	14,300		Heidrick & Struggles International, Inc		279
	39,682		Herman Miller, Inc		781
	7,900	*	Higher One Holdings, Inc		130
	17,074	*	Hill International, Inc		76
	33,809		HNI Corp		972
	24,166	*	Hudson Highland Group, Inc		83
	16,505	*	Huron Consulting Group, Inc		363
	13,014	*	ICF International, Inc		326
	37,578	*	IHS, Inc (Class A)		2,555
	22,974	*	Innerworkings, Inc		151
	38,561		Interface, Inc (Class A)		549
	141,030		Iron Mountain, Inc		3,151
	21,500	*	KAR Auction Services, Inc		271

229

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,372	*	Kelly Services, Inc (Class A)	$	239
	21,985	*	Kforce, Inc		302
	18,600		Kimball International, Inc (Class B)		108
	35,963		Knoll, Inc		558
	34,304	*	Korn/Ferry International		567
	19,634	*	LECG Corp		22
	8,556	*	M&F Worldwide Corp		208
	63,464		Manpower, Inc		3,314
	17,708		McGrath RentCorp		424
	39,317	*	Metalico, Inc		151
	21,996		Mine Safety Appliances Co		596
	7,800	*	Mistras Group, Inc		90
	28,189	*	Mobile Mini, Inc		432
	5,947		Multi-Color Corp		92
	40,393	*	Navigant Consulting, Inc		470
	25,372	*	On Assignment, Inc		133
	156,635		Pitney Bowes, Inc		3,349
	158,991		R.R. Donnelley & Sons Co		2,696
	247,946		Republic Services, Inc		7,559
	32,857		Resources Connection, Inc		452
	115,720		Robert Half International, Inc		3,009
	33,789		Rollins, Inc		790
	10,767		Schawk, Inc (Class A)		199
	14,249	*	School Specialty, Inc		185
	42,038	*	Spherion Corp		253
	12,140	*	Standard Parking Corp		208
	10,680		Standard Register Co		31
	54,705		Steelcase, Inc (Class A)		456
	64,556	*	Stericycle, Inc		4,485
	31,978	*	SYKES Enterprises, Inc		434
	13,336	*	Team, Inc		230
	47,935	*	Tetra Tech, Inc		1,005
	33,194		Towers Watson & Co		1,632
	37,265	*	TrueBlue, Inc		509
	11,503		Unifirst Corp		508
	18,197	*	United Stationers, Inc		974
	79,778	*	Verisk Analytics, Inc		2,235
	15,178		Viad Corp		294
	12,149	*	Volt Information Sciences, Inc		87
	2,793		VSE Corp		99
	57,600	*	Waste Connections, Inc		2,284
	367,850		Waste Management, Inc		13,146
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		96,661
CONSUMER DURABLES & APPAREL - 1.5%
	42,094	*	American Apparel, Inc		52
	30,538		American Greetings Corp (Class A)		568
	9,523	*	Arctic Cat, Inc		98
	48,119	*	Beazer Homes USA, Inc		199
	4,923		Blyth, Inc		203
	7,978	*	Brookfield Homes Corp		65
	69,036		Brunswick Corp		1,051

230

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	51,179		Callaway Golf Co	$	358
	43,671	*	Carter’s, Inc		1,150
	4,557	*	Cavco Industries, Inc		164
	5,581		Cherokee, Inc		102
	233,042		Coach, Inc		10,010
	9,339		Columbia Sportswear Co		546
	62,394	*	CROCS, Inc		812
	5,480		CSS Industries, Inc		95
	7,017	*	Culp, Inc		69
	29,784	*	Deckers Outdoor Corp		1,488
	4,329	*	Delta Apparel, Inc		65
	215,214		DR Horton, Inc		2,393
	207,506	*	Eastman Kodak Co		872
	18,783		Ethan Allen Interiors, Inc		328
	117,473		Fortune Brands, Inc		5,783
	40,042	*	Fossil, Inc		2,154
	34,198	*	Furniture Brands International, Inc		184
	86,645		Garmin Ltd		2,630
	13,268	*	G-III Apparel Group Ltd		416
	73,677	*	Hanesbrands, Inc		1,905
	53,605	*	Harman International Industries, Inc		1,791
	98,113		Hasbro, Inc		4,367
	23,782	*	Helen of Troy Ltd		601
	7,413		Hooker Furniture Corp		86
	26,081	*	Hovnanian Enterprises, Inc (Class A)		102
	54,965	*	Iconix Brand Group, Inc		962
	16,171	*	iRobot Corp		300
	24,481	*	Jakks Pacific, Inc		432
	68,707		Jarden Corp		2,139
	31,304	*	Joe’s Jeans, Inc		66
	66,643		Jones Apparel Group, Inc		1,309
	58,687		KB Home		665
	6,203	*	Kenneth Cole Productions, Inc (Class A)		103
	19,366	*	K-Swiss, Inc (Class A)		247
	3,811		Lacrosse Footwear, Inc		53
	39,237	*	La-Z-Boy, Inc		331
	34,167	*	Leapfrog Enterprises, Inc		187
	114,301		Leggett & Platt, Inc		2,601
	122,890		Lennar Corp (Class A)		1,890
	12,366	*	Libbey, Inc		163
	7,210	*	Lifetime Brands, Inc		109
	61,314	*	Liz Claiborne, Inc		373
	16,303	*	M/I Homes, Inc		169
	17,427	*	Maidenform Brands, Inc		503
	8,407	*	Marine Products Corp		52
	277,747		Mattel, Inc		6,515
	29,150		MDC Holdings, Inc		846
	24,046	*	Meritage Homes Corp		472
	43,299	*	Mohawk Industries, Inc		2,308
	12,667	*	Movado Group, Inc		138
	3,938		National Presto Industries, Inc		419
	214,307		Newell Rubbermaid, Inc		3,817

231

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	275,639		Nike, Inc (Class B)	$	22,089
	4,555	*	NVR, Inc		2,949
	10,106		Oxford Industries, Inc		240
	8,860	*	Perry Ellis International, Inc		194
	43,642		Phillips-Van Heusen Corp		2,626
	24,262		Polaris Industries, Inc		1,579
	43,171		Polo Ralph Lauren Corp (Class A)		3,879
	38,375		Pool Corp		770
	256,906	*	Pulte Homes, Inc		2,250
	87,127	*	Quiksilver, Inc		341
	14,785	*	RC2 Corp		310
	6,477		RG Barry Corp		67
	9,824	*	Russ Berrie & Co, Inc		84
	35,106		Ryland Group, Inc		629
	47,340	*	Sealy Corp		116
	27,339	*	Skechers U.S.A., Inc (Class A)		642
	7,407		Skyline Corp		150
	52,271	*	Smith & Wesson Holding Corp		186
	70,229	*	Standard-Pacific Corp		279
	122,840		Stanley Works		7,529
	4,356	*	Steinway Musical Instruments, Inc		75
	17,467	*	Steven Madden Ltd		717
	14,503		Sturm Ruger & Co, Inc		198
	8,138	*	Summer Infant, Inc		64
	55,849	*	Tempur-Pedic International, Inc		1,731
	32,067	*	Timberland Co (Class A)		635
	109,135	*	Toll Brothers, Inc		2,076
	19,300	*	True Religion Apparel, Inc		412
	48,715		Tupperware Corp		2,229
	25,584	*	Under Armour, Inc (Class A)		1,152
	32,716	*	Unifi, Inc		148
	8,900	*	Universal Electronics, Inc		186
	67,904		VF Corp		5,501
	13,192	*	Volcom, Inc		252
	32,732	*	Warnaco Group, Inc		1,674
	5,214		Weyco Group, Inc		126
	57,906		Whirlpool Corp		4,688
	38,905		Wolverine World Wide, Inc		1,129
			TOTAL CONSUMER DURABLES & APPAREL		137,778
CONSUMER SERVICES - 2.2%
	18,260	*	AFC Enterprises		226
	14,656		Ambassadors Group, Inc		166
	13,862	*	American Public Education, Inc		456
	21,121		Ameristar Casinos, Inc		369
	97,895	*	Apollo Group, Inc (Class A)		5,028
	42,474	*	Bally Technologies, Inc		1,484
	17,427	*	BJ’s Restaurants, Inc		491
	15,345	*	Bluegreen Corp		43
	24,666		Bob Evans Farms, Inc		692
	33,945	*	Boyd Gaming Corp		246
	14,051	*	Bridgepoint Education, Inc		217

232

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	78,146		Brinker International, Inc	$	1,474
	13,602	*	Buffalo Wild Wings, Inc		651
	70,838		Burger King Holdings, Inc		1,692
	14,693	*	California Pizza Kitchen, Inc		251
	12,339	*	Cambium Learning Group, Inc		39
	12,593	*	Capella Education Co		977
	50,534	*	Career Education Corp		1,085
	5,895	*	Caribou Coffee Co, Inc		61
	334,715		Carnival Corp		12,789
	8,099	*	Carrols Restaurant Group, Inc		43
	17,289		CBRL Group, Inc		878
	17,642	*	CEC Entertainment, Inc		606
	46,024	*	Cheesecake Factory		1,218
	24,297	*	Chipotle Mexican Grill, Inc (Class A)		4,179
	21,525		Choice Hotels International, Inc		785
	7,929		Churchill Downs, Inc		283
	23,500	*	Coinstar, Inc		1,010
	64,709	*	Corinthian Colleges, Inc		454
	3,696		CPI Corp		96
	107,900		Darden Restaurants, Inc		4,616
	75,312	*	Denny’s Corp		234
	48,586		DeVry, Inc		2,391
	13,678	*	DineEquity, Inc		615
	30,059	*	Domino’s Pizza, Inc		397
	29,912	*	Education Management Corp		439
	4,221	*	Einstein Noah Restaurant Group, Inc		45
	27,229	*	Gaylord Entertainment Co		830
	24,016	*	Grand Canyon Education, Inc		527
	248,832		H&R Block, Inc		3,223
	47,975		Hillenbrand, Inc		1,032
	33,800	*	Hyatt Hotels Corp		1,264
	230,043		International Game Technology		3,324
	20,889		International Speedway Corp (Class A)		510
	34,104	*	Interval Leisure Group, Inc		459
	5,265	*	Isle of Capri Casinos, Inc		38
	26,666	*	ITT Educational Services, Inc		1,874
	39,870	*	Jack in the Box, Inc		855
	47,403	*	Jamba, Inc		104
	18,366	*	K12, Inc		533
	39,822	*	Krispy Kreme Doughnuts, Inc		182
	6,960	*	Landry’s Restaurants, Inc		170
	240,389	*	Las Vegas Sands Corp		8,378
	6,272		Learning Tree International, Inc		63
	31,445	*	Life Time Fitness, Inc		1,241
	12,699	*	Lincoln Educational Services Corp		183
	8,861		Mac-Gray Corp		107
	14,891		Marcus Corp		176
	209,309		Marriott International, Inc (Class A)		7,500
	23,085		Matthews International Corp (Class A)		816
	11,950	*	McCormick & Schmick’s Seafood Restaurants, Inc		93
	821,624		McDonald’s Corp		61,220
	202,310	*	MGM Mirage		2,282

233

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,692	*	Monarch Casino & Resort, Inc	$	97
	23,956	*	Morgans Hotel Group Co		175
	20,438	*	Multimedia Games, Inc		76
	5,638		National American University Holdings, Inc		38
	14,289	*	O’Charleys, Inc		103
	67,477	*	Orient-Express Hotels Ltd (Class A)		752
	22,689	*	Panera Bread Co (Class A)		2,010
	18,183	*	Papa John’s International, Inc		480
	8,992	*	Peet’s Coffee & Tea, Inc		308
	51,327	*	Penn National Gaming, Inc		1,520
	18,084		PF Chang’s China Bistro, Inc		835
	48,180	*	Pinnacle Entertainment, Inc		537
	7,085	*	Pre-Paid Legal Services, Inc		443
	9,555	*	Princeton Review, Inc		19
	9,873	*	Red Lion Hotels Corp		73
	11,853	*	Red Robin Gourmet Burgers, Inc		232
	44,951		Regis Corp		860
	101,674	*	Royal Caribbean Cruises Ltd		3,206
	50,005	*	Ruby Tuesday, Inc		594
	26,831	*	Ruth’s Chris Steak House, Inc		108
	49,874	*	Scientific Games Corp (Class A)		484
	188,345		Service Corp International		1,624
	44,601	*	Shuffle Master, Inc		375
	45,772	*	Sonic Corp		370
	51,448		Sotheby’s (Class A)		1,894
	9,984		Speedway Motorsports, Inc		157
	570,721		Starbucks Corp		14,599
	144,154		Starwood Hotels & Resorts Worldwide, Inc		7,575
	958	*	Steak N Shake Co		315
	11,970	*	Steiner Leisure Ltd		456
	68,986		Stewart Enterprises, Inc (Class A)		372
	10,323		Strayer Education, Inc		1,801
	42,904	*	Texas Roadhouse, Inc (Class A)		603
	15,190		Universal Technical Institute, Inc		297
	27,599	*	Vail Resorts, Inc		1,036
	24,280		Weight Watchers International, Inc		757
	253,576		Wendy’s/Arby’s Group, Inc (Class A)		1,149
	43,711	*	WMS Industries, Inc		1,664
	138,638		Wyndham Worldwide Corp		3,808
	58,046		Wynn Resorts Ltd		5,037
	355,872		Yum! Brands, Inc		16,392
			TOTAL CONSUMER SERVICES		216,941
DIVERSIFIED FINANCIALS - 6.5%
	36,918		Advance America Cash Advance Centers, Inc		149
	39,037	*	Affiliated Managers Group, Inc		3,045
	261,649	*	American Capital Ltd		1,520
	800,812		American Express Co		33,659
	49,343	*	AmeriCredit Corp		1,207
	196,431		Ameriprise Financial, Inc		9,297
	149,594		Apollo Investment Corp		1,530
	147,601		Ares Capital Corp		2,310

234

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	21,300		Artio Global Investors, Inc	$	326
	11,658	*	Asset Acceptance Capital Corp		63
	8,522		Asta Funding, Inc		65
	7,657,997		Bank of America Corp		100,396
	925,875		Bank of New York Mellon Corp		24,193
	36,447		BGC Partners, Inc (Class A)		218
	43,567		BlackRock Kelso Capital Corp		501
	26,745		BlackRock, Inc		4,553
	77,753	*	Broadpoint Securities Group, Inc		125
	16,951		Calamos Asset Management, Inc (Class A)		195
	349,772		Capital One Financial Corp		13,833
	2,167		Capital Southwest Corp		197
	20,896	*	Cardtronics, Inc		322
	22,738		Cash America International, Inc		796
	10,200		CBOE Holdings, Inc		204
	755,390		Charles Schwab Corp		10,500
	16,145,349	*	Citigroup, Inc		62,967
	50,311		CME Group, Inc		13,103
	12,285		Cohen & Steers, Inc		267
	25,550		Compass Diversified Trust		413
	11,828		CompuCredit Corp		57
	28,011	*	Cowen Group, Inc		92
	5,106	*	Credit Acceptance Corp		309
	1,420		Diamond Hill Investment Group, Inc		104
	413,726		Discover Financial Services		6,901
	17,386	*	Dollar Financial Corp		363
	21,313		Duff & Phelps Corp		287
	169,616	*	E*Trade Financial Corp		2,466
	89,658		Eaton Vance Corp		2,604
	11,162	*	Encore Capital Group, Inc		201
	6,384		Epoch Holding Corp		82
	11,307		Evercore Partners, Inc (Class A)		323
	36,390	*	Ezcorp, Inc (Class A)		729
	39,284	*	FBR Capital Markets Corp		123
	65,791		Federated Investors, Inc (Class B)		1,497
	35,957		Fifth Street Finance Corp		401
	9,807	*	Financial Engines, Inc		130
	23,334	*	First Cash Financial Services, Inc		648
	58,259	*	First Marblehead Corp		136
	113,021		Franklin Resources, Inc		12,082
	5,142		Friedman Billings Ramsey Group, Inc (Class A)		120
	6,584		GAMCO Investors, Inc (Class A)		254
	54,396		GFI Group, Inc		252
	15,081		Gladstone Capital Corp		170
	15,921		Gladstone Investment Corp		107
	91,983	*	GLG Partners, Inc		414
	392,945		Goldman Sachs Group, Inc		56,813
	5,889		Golub Capital BDC, Inc		90
	4,000	*	Green Dot Corp		194
	22,433		Greenhill & Co, Inc		1,779
	16,757	*	Harris & Harris Group, Inc		72
	24,455		Hercules Technology Growth Capital, Inc		247

235

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,456	*	HFF, Inc (Class A)	$	134
	30,361	*	Interactive Brokers Group, Inc (Class A)		523
	56,257	*	IntercontinentalExchange, Inc		5,891
	13,392	*	International Assets Holding Corp		242
	353,671		Invesco Ltd		7,508
	34,884	*	Investment Technology Group, Inc		496
	184,823		iShares Russell 3000 Index Fund		12,466
	137,373		Janus Capital Group, Inc		1,504
	89,727		Jefferies Group, Inc		2,036
	11,011		JMP Group, Inc		67
	3,036,996		JPMorgan Chase & Co		115,619
	12,909		Kayne Anderson Energy Development Co		207
	26,819		KBW, Inc		687
	73,616	*	Knight Capital Group, Inc (Class A)		912
	33,500	*	LaBranche & Co, Inc		131
	73,441	*	Ladenburg Thalmann Financial Services, Inc		75
	70,810		Lazard Ltd (Class A)		2,484
	124,819		Legg Mason, Inc		3,783
	148,551	*	Leucadia National Corp		3,509
	5,396		Life Partners Holdings, Inc		103
	9,437		Main Street Capital Corp		150
	21,429		MarketAxess Holdings, Inc		364
	6,533	*	Marlin Business Services Corp		78
	50,285		MCG Capital Corp		294
	9,981		Medallion Financial Corp		78
	86,034	*	MF Global Holdings Ltd		619
	157,620		Moody’s Corp		3,937
	1,067,027		Morgan Stanley		26,335
	84,839	*	MSCI, Inc (Class A)		2,818
	17,411		MVC Capital, Inc		226
	104,606	*	Nasdaq Stock Market, Inc		2,032
	20,204		Nelnet, Inc (Class A)		462
	21,889	*	NewStar Financial, Inc		162
	12,077		NGP Capital Resources Co		109
	183,146		Northern Trust Corp		8,835
	198,529		NYSE Euronext		5,672
	7,363		Oppenheimer Holdings, Inc		206
	30,987	*	optionsXpress Holdings, Inc		476
	24,585		PennantPark Investment Corp		261
	15,186	*	Penson Worldwide, Inc		75
	41,814	*	PHH Corp		881
	17,372	*	Pico Holdings, Inc		519
	13,978	*	Piper Jaffray Cos		407
	13,016	*	Portfolio Recovery Associates, Inc		841
	32,274	*	Primus Guaranty Ltd		147
	49,146		Prospect Capital Corp		477
	9,591		Pzena Investment Management, Inc (Class A)		66
	75,031		Raymond James Financial, Inc		1,901
	21,125	*	Safeguard Scientifics, Inc		265
	8,937		Sanders Morris Harris Group, Inc		51
	115,255		SEI Investments Co		2,344
	372,586	*	SLM Corp		4,303

236

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	4,400		Solar Capital Ltd	$	94
	384,555		State Street Corp		14,482
	25,298	*	Stifel Financial Corp		1,171
	2,846		Student Loan Corp		85
	19,558		SWS Group, Inc		140
	198,395		T Rowe Price Group, Inc		9,933
	178,714	*	TD Ameritrade Holding Corp		2,886
	6,653		THL Credit, Inc		78
	20,926		TICC Capital Corp		217
	25,593	*	TradeStation Group, Inc		168
	8,996		Triangle Capital Corp		144
	4,394	*	Virtus Investment Partners, Inc		133
	64,858		Waddell & Reed Financial, Inc (Class A)		1,775
	3,869		Westwood Holdings Group, Inc		131
	12,929	*	World Acceptance Corp		571
			TOTAL DIVERSIFIED FINANCIALS		631,777
ENERGY - 10.2%
	51,525	*	Abraxas Petroleum Corp		146
	30,378	*	Allis-Chalmers Energy, Inc		127
	9,171		Alon USA Energy, Inc		50
	91,294	*	Alpha Natural Resources, Inc		3,757
	38,262	*	American Oil & Gas, Inc		310
	377,123		Anadarko Petroleum Corp		21,515
	278,449		Apache Corp		27,221
	6,580		APCO Argentina, Inc		228
	6,556	*	Approach Resources, Inc		73
	125,528		Arch Coal, Inc		3,353
	59,928	*	Atlas America, Inc		1,716
	33,846	*	ATP Oil & Gas Corp		462
	41,374	*	Atwood Oceanics, Inc		1,260
	328,863		Baker Hughes, Inc		14,010
	22,381	*	Basic Energy Services, Inc		191
	39,652		Berry Petroleum Co (Class A)		1,258
	33,673	*	Bill Barrett Corp		1,212
	80,973	*	BPZ Energy, Inc		310
	84,797	*	Brigham Exploration Co		1,590
	27,721	*	Bristow Group, Inc		1,000
	78,161		Cabot Oil & Gas Corp		2,353
	67,178	*	Cal Dive International, Inc		367
	27,753	*	Callon Petroleum Co		137
	186,418	*	Cameron International Corp		8,009
	14,570		CARBO Ceramics, Inc		1,180
	25,047	*	Carrizo Oil & Gas, Inc		600
	35,021	*	Cheniere Energy, Inc		88
	496,466		Chesapeake Energy Corp		11,245
	1,531,300		Chevron Corp		124,111
	63,590		Cimarex Energy Co		4,208
	4,602	*	Clayton Williams Energy, Inc		233
	30,062	*	Clean Energy Fuels Corp		427
	23,500	*	Cloud Peak Energy, Inc		429
	55,500	*	Cobalt International Energy, Inc		530

237

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	58,166	*	Complete Production Services, Inc	$	1,189
	36,545	*	Comstock Resources, Inc		822
	68,611	*	Concho Resources, Inc		4,540
	1,136,576		ConocoPhillips		65,274
	171,765		Consol Energy, Inc		6,348
	9,021	*	Contango Oil & Gas Co		452
	24,174	*	Continental Resources, Inc		1,121
	33,738		Core Laboratories NV		2,970
	37,807	*	Crosstex Energy, Inc		299
	21,762	*	CVR Energy, Inc		180
	7,528	*	Dawson Geophysical Co		201
	7,530		Delek US Holdings, Inc		54
	82,546	*	Delta Petroleum Corp		65
	304,051	*	Denbury Resources, Inc		4,831
	341,170		Devon Energy Corp		22,087
	38,961		DHT Maritime, Inc		161
	51,848		Diamond Offshore Drilling, Inc		3,514
	63,584	*	Dresser-Rand Group, Inc		2,346
	24,885	*	Dril-Quip, Inc		1,546
	535,983		El Paso Corp		6,635
	81,717	*	Endeavour International Corp		105
	21,960	*	Energy Partners Ltd		264
	38,947	*	Energy XXI Bermuda Ltd		900
	193,111		EOG Resources, Inc		17,954
	113,016		Equitable Resources, Inc		4,075
	11,704	*	Evolution Petroleum Corp		70
	111,561		EXCO Resources, Inc		1,659
	48,293	*	Exterran Holdings, Inc		1,097
	3,892,217		Exxon Mobil Corp		240,499
	92,425	*	FMC Technologies, Inc		6,312
	85,352	*	Forest Oil Corp		2,535
	80,549		Frontier Oil Corp		1,079
	39,564		Frontline Ltd		1,125
	24,931	*	FX Energy, Inc		103
	33,304	*	Gastar Exploration Ltd		134
	60,120		General Maritime Corp		295
	9,814	*	Georesources, Inc		156
	5,362	*	Global Geophysical Services, Inc		39
	79,950	*	Global Industries Ltd		437
	27,174	*	GMX Resources, Inc		132
	24,752		Golar LNG Ltd		310
	20,317	*	Goodrich Petroleum Corp		296
	12,062	*	Green Plains Renewable Energy, Inc		146
	9,089		Gulf Island Fabrication, Inc		165
	16,361	*	Gulfmark Offshore, Inc		503
	21,620	*	Gulfport Energy Corp		299
	695,744		Halliburton Co		23,008
	29,621	*	Harvest Natural Resources, Inc		309
	81,706	*	Helix Energy Solutions Group, Inc		910
	72,674		Helmerich & Payne, Inc		2,940
	109,893	*	Hercules Offshore, Inc		291
	223,283		Hess Corp		13,200

238

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,558		Holly Corp	$	994
	18,746	*	Hornbeck Offshore Services, Inc		365
	14,150		Houston American Energy Corp		142
	100,658	*	International Coal Group, Inc		536
	100,154	*	ION Geophysical Corp		515
	823	*	Isramco, Inc		50
	21,317	*	James River Coal Co		374
	95,985	*	Key Energy Services, Inc		913
	11,975		Knightsbridge Tankers Ltd		226
	113,047	*	Kodiak Oil & Gas Corp		383
	12,300	*	L&L Energy, Inc		99
	21,068		Lufkin Industries, Inc		925
	36,629	*	Magnum Hunter Resources Corp		152
	540,886		Marathon Oil Corp		17,903
	79,735	*	Mariner Energy, Inc		1,932
	79,487		Massey Energy Co		2,466
	23,922	*	Matrix Service Co		209
	176,324	*	McDermott International, Inc		2,606
	59,367	*	McMoRan Exploration Co		1,022
	14,504	*	Miller Petroleum, Inc		78
	146,026		Murphy Oil Corp		9,042
	216,456	*	Nabors Industries Ltd		3,909
	320,833		National Oilwell Varco, Inc		14,267
	11,326	*	Natural Gas Services Group, Inc		167
	101,338	*	Newfield Exploration Co		5,821
	69,901	*	Newpark Resources, Inc		587
	133,306		Noble Energy, Inc		10,010
	37,402		Nordic American Tanker Shipping		1,001
	34,375	*	Northern Oil And Gas, Inc		582
	36,800	*	Oasis Petroleum, Inc		713
	620,046		Occidental Petroleum Corp		48,550
	42,236	*	Oceaneering International, Inc		2,275
	37,449	*	Oil States International, Inc		1,743
	19,618		Overseas Shipholding Group, Inc		673
	2,713	*	OYO Geospace Corp		157
	37,088	*	Pacific Asia Petroleum, Inc		118
	5,367		Panhandle Oil and Gas, Inc (Class A)		133
	96,030	*	Parker Drilling Co		418
	61,726	*	Patriot Coal Corp		704
	119,282		Patterson-UTI Energy, Inc		2,037
	205,178		Peabody Energy Corp		10,056
	35,015		Penn Virginia Corp		562
	227,814	*	PetroHawk Energy Corp		3,677
	16,488	*	Petroleum Development Corp		455
	43,261	*	Petroquest Energy, Inc		263
	9,723	*	PHI, Inc		157
	42,944	*	Pioneer Drilling Co		274
	88,660		Pioneer Natural Resources Co		5,766
	108,164	*	Plains Exploration & Production Co		2,885
	133,316	*	Pride International, Inc		3,923
	135,152		Questar Market Resources, Inc		4,073
	87,219	*	Quicksilver Resources, Inc		1,099

239

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	43,093	*	RAM Energy Resources, Inc	$	67
	120,881		Range Resources Corp		4,609
	167,304	*	Rentech, Inc		165
	29,534	*	Resolute Energy Corp		327
	26,939	*	Rex Energy Corp		345
	6,400	*	Rex Stores Corp		93
	40,850	*	Rosetta Resources, Inc		960
	88,128	*	Rowan Cos, Inc		2,676
	18,456		RPC, Inc		391
	276,358	*	SandRidge Energy, Inc		1,570
	1,042,918		Schlumberger Ltd		64,254
	9,989	*	Scorpio Tankers, Inc		113
	17,443	*	SEACOR Holdings, Inc		1,485
	8,815	*	Seahawk Drilling, Inc		75
	34,031		Ship Finance International Ltd		661
	93,776		Southern Union Co		2,256
	265,005	*	Southwestern Energy Co		8,862
	492,423		Spectra Energy Corp		11,104
	47,539		St. Mary Land & Exploration Co		1,781
	36,323	*	Stone Energy Corp		535
	93,049		Sunoco, Inc		3,396
	59,956	*	Superior Energy Services		1,600
	28,748	*	Swift Energy Co		807
	49,984	*	Syntroleum Corp		93
	8,956	*	T-3 Energy Services, Inc		234
	32,878		Teekay Corp		879
	20,361		Teekay Tankers Ltd (Class A)		265
	23,351	*	Tesco Corp		281
	108,582		Tesoro Corp		1,451
	52,437	*	Tetra Technologies, Inc		535
	40,104		Tidewater, Inc		1,797
	113,201	*	TransAtlantic Petroleum Ltd		335
	116,837	*	Ultra Petroleum Corp		4,905
	10,127	*	Union Drilling, Inc		45
	29,837	*	Unit Corp		1,113
	60,823	*	Uranium Energy Corp		199
	93,574	*	USEC, Inc		486
	48,465		Vaalco Energy, Inc		278
	431,612		Valero Energy Corp		7,558
	94,150	*	Vantage Drilling Co		151
	15,433	*	Venoco, Inc		303
	26,733		W&T Offshore, Inc		283
	67,894	*	Warren Resources, Inc		270
	566,588	*	Weatherford International Ltd		9,689
	34,300	*	Western Refining, Inc		180
	44,695	*	Whiting Petroleum Corp		4,269
	30,921	*	Willbros Group, Inc		284
	446,475		Williams Cos, Inc		8,532
	45,976		World Fuel Services Corp		1,196
			TOTAL ENERGY		1,001,418

240

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
FOOD & STAPLES RETAILING - 2.0%
	13,080		Andersons, Inc	$	496
	837		Arden Group, Inc (Class A)		69
	39,270	*	BJ’s Wholesale Club, Inc		1,630
	29,235		Casey’s General Stores, Inc		1,221
	336,225		Costco Wholesale Corp		21,683
	1,039,304		CVS Corp		32,706
	34,215	*	Great Atlantic & Pacific Tea Co, Inc		135
	8,163		Ingles Markets, Inc (Class A)		136
	490,217		Kroger Co		10,618
	10,977		Nash Finch Co		467
	16,292	*	Pantry, Inc		393
	12,039		Pricesmart, Inc		351
	445,462	*	Rite Aid Corp		420
	33,448		Ruddick Corp		1,160
	295,728		Safeway, Inc		6,258
	18,527		Spartan Stores, Inc		269
	165,275		Supervalu, Inc		1,906
	5,570	*	Susser Holdings Corp		78
	450,553		Sysco Corp		12,850
	33,743	*	United Natural Foods, Inc		1,118
	4,652		Village Super Market (Class A)		130
	746,340		Walgreen Co		25,002
	1,557,980		Wal-Mart Stores, Inc		83,382
	8,834		Weis Markets, Inc		346
	106,647	*	Whole Foods Market, Inc		3,958
	41,829	*	Winn-Dixie Stores, Inc		298
			TOTAL FOOD & STAPLES RETAILING		207,080
FOOD, BEVERAGE & TOBACCO - 5.3%
	2,319		Alico, Inc		54
	68,179	*	Alliance One International, Inc		283
	1,590,400		Altria Group, Inc		38,201
	489,705		Archer Daniels Midland Co		15,631
	37,577		B&G Foods, Inc (Class A)		410
	6,724	*	Boston Beer Co, Inc (Class A)		450
	80,902		Brown-Forman Corp (Class B)		4,987
	110,812		Bunge Ltd		6,556
	7,129		Calavo Growers, Inc		155
	10,929	b	Cal-Maine Foods, Inc		317
	139,533		Campbell Soup Co		4,988
	53,541	*	Central European Distribution Corp		1,195
	31,603	*	Chiquita Brands International, Inc		418
	4,202		Coca-Cola Bottling Co Consolidated		222
	1,607,968		Coca-Cola Co		94,099
	244,253		Coca-Cola Enterprises, Inc		7,572
	340,265		ConAgra Foods, Inc		7,465
	141,361	*	Constellation Brands, Inc (Class A)		2,501
	57,268		Corn Products International, Inc		2,148
	60,640	*	Darling International, Inc		517
	140,023	*	Dean Foods Co		1,430
	151,457		Del Monte Foods Co		1,986
	16,103		Diamond Foods, Inc		660

241

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	27,600	*	Dole Food Co, Inc	$	253
	187,310		Dr Pepper Snapple Group, Inc		6,653
	5,320		Farmer Bros Co		85
	55,545		Flowers Foods, Inc		1,380
	31,042	*	Fresh Del Monte Produce, Inc		674
	505,964		General Mills, Inc		18,487
	85,098	*	Green Mountain Coffee Roasters, Inc		2,654
	2,482		Griffin Land & Nurseries, Inc (Class A)		66
	242,387		H.J. Heinz Co		11,482
	29,988	*	Hain Celestial Group, Inc		719
	51,477	*	Hansen Natural Corp		2,400
	7,067	*	Harbinger Group, Inc		39
	60,592	*	Heckmann Corp		236
	116,903		Hershey Co		5,563
	51,990		Hormel Foods Corp		2,319
	8,158		Imperial Sugar Co		107
	11,326		J&J Snack Foods Corp		475
	90,461		J.M. Smucker Co		5,476
	5,934	*	John B. Sanfilippo & Son, Inc		78
	195,923		Kellogg Co		9,896
	1,224,979		Kraft Foods, Inc (Class A)		37,802
	13,818		Lancaster Colony Corp		656
	22,384		Lance, Inc		477
	3,603	*	Lifeway Foods, Inc		38
	6,464		Limoneira Co		130
	114,684		Lorillard, Inc		9,210
	100,017		McCormick & Co, Inc		4,205
	156,241		Mead Johnson Nutrition Co		8,892
	9,066		Mgp Ingredients, Inc		71
	99,912		Molson Coors Brewing Co (Class B)		4,718
	5,604		National Beverage Corp		78
	1,231,203		PepsiCo, Inc		81,801
	1,413,709		Philip Morris International, Inc		79,197
	37,600	*	Pilgrim’s Pride Corp		211
	42,412	*	Ralcorp Holdings, Inc		2,480
	127,928		Reynolds American, Inc		7,598
	17,484		Sanderson Farms, Inc		757
	504,203		Sara Lee Corp		6,771
	7,792	*	Seneca Foods Corp		204
	53,670	*	Smart Balance, Inc		208
	102,827	*	Smithfield Foods, Inc		1,731
	63,050	*	Star Scientific, Inc		132
	14,223	*	Synutra International, Inc		164
	20,485		Tootsie Roll Industries, Inc		510
	26,938	*	TreeHouse Foods, Inc		1,242
	230,318		Tyson Foods, Inc (Class A)		3,690
	18,707		Universal Corp		750
	33,438		Vector Group Ltd		625
			TOTAL FOOD, BEVERAGE & TOBACCO		515,635

242

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 4.5%
	15,924	*	Abaxis, Inc	$	368
	27,756	*	Abiomed, Inc		294
	9,173	*	Accretive Health, Inc		99
	38,943	*	Accuray, Inc		242
	324,598		Aetna, Inc		10,261
	10,700	*	AGA Medical Holdings, Inc		149
	7,464	*	Air Methods Corp		310
	52,912		Alcon, Inc		8,825
	47,580	*	Align Technology, Inc		932
	4,887	*	Alimera Sciences, Inc		47
	18,580	*	Alliance Imaging, Inc		85
	34,529	*	Allied Healthcare International, Inc		86
	100,379	*	Allscripts Healthcare Solutions, Inc		1,854
	7,268	*	Almost Family, Inc		215
	39,818	*	Alphatec Holdings, Inc		85
	21,596	*	Amedisys, Inc		514
	6,404		America Service Group, Inc		95
	9,851	*	American Dental Partners, Inc		119
	59,514	*	American Medical Systems Holdings, Inc		1,165
	37,665	*	AMERIGROUP Corp		1,600
	215,429		AmerisourceBergen Corp		6,605
	23,326	*	AMN Healthcare Services, Inc		120
	25,648	*	Amsurg Corp		448
	10,953		Analogic Corp		492
	18,523	*	Angiodynamics, Inc		282
	54,175	*	Antares Pharma, Inc		79
	20,843	*	Arthrocare Corp		567
	8,583	*	Assisted Living Concepts, Inc (A Shares)		261
	25,682	*	athenahealth, Inc		848
	1,039		Atrion Corp		164
	72,280		Bard (C.R.), Inc		5,886
	454,946		Baxter International, Inc		21,705
	52,670		Beckman Coulter, Inc		2,570
	177,892		Becton Dickinson & Co		13,182
	18,346	*	Bio-Reference Labs, Inc		383
	31,488	*	BioScrip, Inc		162
	1,156,207	*	Boston Scientific Corp		7,088
	65,604	*	Brookdale Senior Living, Inc		1,070
	12,419		Cantel Medical Corp		201
	15,384	*	Capital Senior Living Corp		82
	277,015		Cardinal Health, Inc		9,153
	18,454	*	CardioNet, Inc		83
	139,222	*	CareFusion Corp		3,458
	27,814	*	Catalyst Health Solutions, Inc		979
	39,667	*	Centene Corp		936
	52,598	*	Cerner Corp		4,417
	28,816	*	Cerus Corp		111
	18,052		Chemed Corp		1,028
	8,056	*	Chindex International, Inc		122
	210,788		Cigna Corp		7,542
	42,270	*	Clarient, Inc		143
	72,212	*	Community Health Systems, Inc		2,236
	9,637		Computer Programs & Systems, Inc		410

243

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	25,681	*	Conceptus, Inc	$	353
	22,053	*	Conmed Corp		494
	23,514	*	Continucare Corp		99
	34,815		Cooper Cos, Inc		1,609
	6,016	*	Corvel Corp		255
	114,216	*	Coventry Health Care, Inc		2,459
	381,890		Covidien plc		15,348
	22,090	*	Cross Country Healthcare, Inc		159
	27,223	*	CryoLife, Inc		165
	10,023	*	Cutera, Inc		81
	19,734	*	Cyberonics, Inc		527
	5,493	*	Cynosure, Inc (Class A)		56
	78,784	*	DaVita, Inc		5,438
	30,959	*	Delcath Systems, Inc		224
	110,654		Dentsply International, Inc		3,538
	45,477	*	DexCom, Inc		601
	7,198	*	DynaVox, Inc		58
	85,850	*	Edwards Lifesciences Corp		5,756
	13,235	*	Electro-Optical Sciences, Inc		86
	21,300	*	Emdeon, Inc		259
	22,414	*	Emergency Medical Services Corp (Class A)		1,194
	14,234	*	Emeritus Corp		243
	34,017	*	Endologix, Inc		155
	10,891		Ensign Group, Inc		195
	4,898	*	Exactech, Inc		80
	419,847	*	Express Scripts, Inc		20,448
	24,001	*	Five Star Quality Care, Inc		121
	11,633	*	Genoptix, Inc		165
	37,427	*	Gen-Probe, Inc		1,814
	22,160	*	Gentiva Health Services, Inc		484
	19,254	*	Greatbatch, Inc		447
	18,549	*	Haemonetics Corp		1,086
	22,869	*	Hanger Orthopedic Group, Inc		333
	32,412	*	Hansen Medical, Inc		46
	18,744	*	Health Grades, Inc		154
	197,006	*	Health Management Associates, Inc (Class A)		1,509
	76,650	*	Health Net, Inc		2,084
	71,500	*	Healthsouth Corp		1,373
	44,595	*	Healthspring, Inc		1,152
	28,116	*	Healthways, Inc		327
	7,155	*	HeartWare International, Inc		492
	69,402	*	Henry Schein, Inc		4,066
	49,054		Hill-Rom Holdings, Inc		1,761
	20,307	*	HMS Holdings Corp		1,197
	200,085	*	Hologic, Inc		3,203
	126,558	*	Hospira, Inc		7,215
	129,512	*	Humana, Inc		6,507
	9,095	*	ICU Medical, Inc		339
	43,803	*	Idexx Laboratories, Inc		2,704
	55,460	*	Immucor, Inc		1,100
	27,569	*	Insulet Corp		390
	16,250	*	Integra LifeSciences Holdings Corp		641

244

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	29,949	*	Intuitive Surgical, Inc	$	8,498
	23,110		Invacare Corp		613
	63,072	*	Inverness Medical Innovations, Inc		1,951
	11,925	*	IPC The Hospitalist Co, Inc		326
	12,955	*	IRIS International, Inc		124
	8,260	*	Kensey Nash Corp		239
	29,869	*	Kindred Healthcare, Inc		389
	47,219	*	Kinetic Concepts, Inc		1,727
	79,656	*	Laboratory Corp of America Holdings		6,247
	8,629		Landauer, Inc		540
	11,885	*	LCA-Vision, Inc		66
	11,927	*	LHC Group, Inc		277
	42,511	*	LifePoint Hospitals, Inc		1,490
	74,282		Lincare Holdings, Inc		1,864
	25,596	*	Magellan Health Services, Inc		1,209
	17,643	*	MAKO Surgical Corp		169
	38,810		Masimo Corp		1,060
	206,778		McKesson Corp		12,776
	33,286	*	MedAssets, Inc		700
	11,469	*	Medcath Corp		115
	330,536	*	Medco Health Solutions, Inc		17,209
	9,627	*	Medical Action Industries, Inc		87
	14,224	*	Medidata Solutions, Inc		273
	8,997		MedQuist, Inc		79
	841,214		Medtronic, Inc		28,248
	38,200	*	Merge Healthcare, Inc		111
	31,965		Meridian Bioscience, Inc		699
	23,230	*	Merit Medical Systems, Inc		369
	30,372	*	Metropolitan Health Networks, Inc		115
	8,123	*	Molina Healthcare, Inc		219
	9,533	*	MWI Veterinary Supply, Inc		550
	6,756		National Healthcare Corp		250
	19,956	*	Natus Medical, Inc		291
	15,786	*	Neogen Corp		534
	30,456	*	NuVasive, Inc		1,070
	18,905	*	NxStage Medical, Inc		361
	90,050		Omnicare, Inc		2,150
	24,067	*	Omnicell, Inc		315
	30,922	*	OraSure Technologies, Inc		125
	14,876	*	Orthofix International NV		467
	57,344	*	Orthovita, Inc		130
	48,567		Owens & Minor, Inc		1,382
	12,302	*	Palomar Medical Technologies, Inc		127
	79,206		Patterson Cos, Inc		2,269
	7,345	*	PDI, Inc		64
	35,963	*	Pediatrix Medical Group, Inc		1,917
	23,814	*	PharMerica Corp		227
	7,846	*	Prospect Medical Holdings, Inc		67
	8,598	*	Providence Service Corp		141
	41,924	*	PSS World Medical, Inc		896
	43,029	*	Psychiatric Solutions, Inc		1,444
	15,188		Quality Systems, Inc		1,007

245

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	113,398		Quest Diagnostics, Inc	$	5,723
	21,781	*	Quidel Corp		239
	18,890	*	RehabCare Group, Inc		382
	19,452	*	Res-Care, Inc		258
	116,858	*	Resmed, Inc		3,834
	7,581	*	Rochester Medical Corp		83
	38,631	*	RTI Biologics, Inc		102
	14,756	*	Rural		126
	34,220	*	Select Medical Holdings Corp		263
	25,744	*	Sirona Dental Systems, Inc		928
	15,881	*	Skilled Healthcare Group, Inc (Class A)		62
	44,003	*	Solta Medical, Inc		88
	12,040	*	SonoSite, Inc		403
	21,581	*	Spectranetics Corp		117
	249,893	*	St. Jude Medical, Inc		9,831
	26,141	*	Staar Surgical Co		141
	16,786	*	Stereotaxis, Inc		69
	45,845		STERIS Corp		1,523
	241,276		Stryker Corp		12,076
	43,187	*	Sun Healthcare Group, Inc		366
	54,889	*	Sunrise Senior Living, Inc		188
	13,627	*	SurModics, Inc		162
	47,188	*	SXC Health Solutions Corp		1,721
	32,497	*	Symmetry Medical, Inc		313
	27,911	*	Syneron Medical Ltd		277
	9,221	*	Synovis Life Technologies, Inc		138
	11,500	*	Team Health Holdings, Inc		148
	30,710		Teleflex, Inc		1,744
	367,275	*	Tenet Healthcare Corp		1,734
	43,318	*	Thoratec Corp		1,602
	29,444	*	TomoTherapy, Inc		104
	4,824	*	Transcend Services, Inc		74
	14,800	*	Triple-S Management Corp (Class B)		249
	37,485	*	Unilife Corp		226
	867,689		UnitedHealth Group, Inc		30,466
	23,233		Universal American Financial Corp		343
	69,358		Universal Health Services, Inc (Class B)		2,695
	8,422	*	US Physical Therapy, Inc		141
	93,804	*	Varian Medical Systems, Inc		5,675
	12,709	*	Vascular Solutions, Inc		146
	66,310	*	VCA Antech, Inc		1,398
	11,927	*	Vital Images, Inc		158
	37,127	*	Volcano Corp		965
	32,075	*	WellCare Health Plans, Inc		929
	304,790	*	WellPoint, Inc		17,264
	26,348		West Pharmaceutical Services, Inc		904
	28,863	*	Wright Medical Group, Inc		416
	4,290		Young Innovations, Inc		123
	155,004	*	Zimmer Holdings, Inc		8,111
	14,948	*	Zoll Medical Corp		482
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		439,831

246

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
HOUSEHOLD & PERSONAL PRODUCTS - 2.3%
	63,175		Alberto-Culver Co	$	2,379
	327,548		Avon Products, Inc		10,518
	6,132	*	Cellu Tissue Holdings, Inc		73
	46,305	*	Central Garden and Pet Co (Class A)		480
	53,334		Church & Dwight Co, Inc		3,464
	107,510		Clorox Co		7,177
	374,432		Colgate-Palmolive Co		28,779
	17,426	*	Elizabeth Arden, Inc		348
	54,076	*	Energizer Holdings, Inc		3,636
	85,023		Estee Lauder Cos (Class A)		5,376
	11,623		Female Health Co		60
	46,184		Herbalife Ltd		2,787
	9,091		Inter Parfums, Inc		160
	315,962		Kimberly-Clark Corp		20,553
	9,661	*	Medifast, Inc		262
	5,868	*	Nature’s Sunshine Products, Inc		52
	42,490	*	NBTY, Inc		2,336
	38,826		Nu Skin Enterprises, Inc (Class A)		1,118
	8,067	*	Nutraceutical International Corp		127
	3,981		Oil-Dri Corp of America		86
	32,300	*	Prestige Brands Holdings, Inc		319
	2,198,439		Procter & Gamble Co		131,839
	9,587	*	Revlon, Inc (Class A)		121
	9,325		Schiff Nutrition International, Inc		76
	11,963	*	Spectrum Brands, Inc		325
	6,878	*	USANA Health Sciences, Inc		278
	11,564		WD-40 Co		440
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		223,169
INSURANCE - 4.0%
	257,414		ACE Ltd		14,994
	359,602		Aflac, Inc		18,595
	4,869	*	Alleghany Corp		1,475
	39,022		Allied World Assurance Holdings Ltd		2,208
	409,110		Allstate Corp		12,907
	223,278	*	Ambac Financial Group, Inc		124
	46,461		American Equity Investment Life Holding Co		476
	65,151		American Financial Group, Inc		1,992
	93,396	*	American International Group, Inc		3,652
	4,964		American National Insurance Co		377
	7,122		American Physicians Capital, Inc		295
	4,784		American Physicians Service Group, Inc		155
	7,468	*	American Safety Insurance Holdings Ltd		122
	13,065	*	Amerisafe, Inc		245
	17,807		Amtrust Financial Services, Inc		259
	205,596		AON Corp		8,041
	37,879	*	Arch Capital Group Ltd		3,174
	23,723		Argo Group International Holdings Ltd		824
	79,596		Arthur J. Gallagher & Co		2,099
	59,781		Aspen Insurance Holdings Ltd		1,810
	86,328		Assurant, Inc		3,514

247

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	141,003		Assured Guaranty Ltd	$	2,413
	97,818		Axis Capital Holdings Ltd		3,222
	4,897		Baldwin & Lyons, Inc (Class B)		125
	1,320,907	*	Berkshire Hathaway, Inc (Class B)		109,214
	86,725		Brown & Brown, Inc		1,751
	248,827		Chubb Corp		14,181
	109,469		Cincinnati Financial Corp		3,158
	32,879	*	Citizens, Inc (Class A)		227
	19,762	*	CNA Financial Corp		553
	16,018	*	CNA Surety Corp		287
	177,105	*	Conseco, Inc		981
	14,025	*	Crawford & Co (Class B)		34
	36,264		Delphi Financial Group, Inc (Class A)		906
	9,364		Donegal Group, Inc (Class A)		122
	17,698	*	eHealth, Inc		229
	4,503		EMC Insurance Group, Inc		96
	34,055		Employers Holdings, Inc		537
	35,363		Endurance Specialty Holdings Ltd		1,407
	4,920	*	Enstar Group Ltd		357
	22,958		Erie Indemnity Co (Class A)		1,287
	44,269		Everest Re Group Ltd		3,828
	9,829		FBL Financial Group, Inc (Class A)		255
	178,542		Fidelity National Title Group, Inc (Class A)		2,805
	77,697		First American Financial Corp		1,161
	8,814		First Mercury Financial Corp		89
	40,236		Flagstone Reinsurance Holdings Ltd		427
	10,330	*	Fpic Insurance Group, Inc		362
	371,348	*	Genworth Financial, Inc (Class A)		4,538
	20,683	*	Greenlight Capital Re Ltd (Class A)		517
	7,438	*	Hallmark Financial Services		65
	32,699		Hanover Insurance Group, Inc		1,537
	10,427		Harleysville Group, Inc		342
	338,761		Hartford Financial Services Group, Inc		7,775
	87,439		HCC Insurance Holdings, Inc		2,281
	33,859	*	Hilltop Holdings, Inc		324
	29,235		Horace Mann Educators Corp		520
	10,619		Infinity Property & Casualty Corp		518
	2,078		Kansas City Life Insurance Co		65
	233,468		Lincoln National Corp		5,585
	240,330		Loews Corp		9,109
	34,934		Maiden Holdings Ltd		266
	7,378	*	Markel Corp		2,542
	411,379		Marsh & McLennan Cos, Inc		9,922
	74,338		Max Capital Group Ltd		1,481
	113,030	*	MBIA, Inc		1,136
	42,189		Meadowbrook Insurance Group, Inc		378
	20,644		Mercury General Corp		844
	497,559		Metlife, Inc		19,131
	54,871		Montpelier Re Holdings Ltd		950
	36,167	*	National Financial Partners Corp		458
	9,917		National Interstate Corp		216
	1,551		National Western Life Insurance Co (Class A)		218

248

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,494	*	Navigators Group, Inc	$	379
	4,145		NYMAGIC, Inc		106
	183,477		Old Republic International Corp		2,541
	20,220		OneBeacon Insurance Group Ltd (Class A)		289
	59,200		PartnerRe Ltd		4,747
	98,653	*	Phoenix Cos, Inc		207
	32,655		Platinum Underwriters Holdings Ltd		1,421
	22,267	*	PMA Capital Corp (Class A)		168
	13,808		Presidential Life Corp		135
	18,348		Primerica, Inc		373
	244,384		Principal Financial Group		6,334
	23,604	*	ProAssurance Corp		1,359
	512,997		Progressive Corp		10,706
	65,519		Protective Life Corp		1,426
	355,512		Prudential Financial, Inc		19,262
	56,415		Reinsurance Group of America, Inc (Class A)		2,724
	44,593		RenaissanceRe Holdings Ltd		2,674
	14,489		RLI Corp		820
	11,015		Safety Insurance Group, Inc		463
	14,868		SeaBright Insurance Holdings, Inc		120
	40,400		Selective Insurance Group, Inc		658
	35,995		Stancorp Financial Group, Inc		1,368
	9,480		State Auto Financial Corp		144
	12,744		Stewart Information Services Corp		144
	25,000		Symetra Financial Corp		262
	62,213		Torchmark Corp		3,306
	31,231		Tower Group, Inc		729
	47,478		Transatlantic Holdings, Inc		2,413
	358,821		Travelers Cos, Inc		18,695
	12,914	*	United America Indemnity Ltd		207
	17,338		United Fire & Casualty Co		368
	39,343		Unitrin, Inc		960
	10,064		Universal Insurance Holdings, Inc		45
	253,134		UnumProvident Corp		5,607
	62,895		Validus Holdings Ltd		1,658
	97,634		W.R. Berkley Corp		2,643
	1,029		Wesco Financial Corp		369
	5,696		White Mountains Insurance Group Ltd		1,757
	263,830		XL Capital Ltd		5,715
			TOTAL INSURANCE		401,372
MATERIALS - 4.0%
	24,943		A. Schulman, Inc		503
	5,113	*	AEP Industries, Inc		121
	161,270		Air Products & Chemicals, Inc		13,356
	63,364		Airgas, Inc		4,306
	78,358		AK Steel Holding Corp		1,082
	71,187		Albemarle Corp		3,332
	783,333		Alcoa, Inc		9,487
	75,995		Allegheny Technologies, Inc		3,530
	57,287	*	Allied Nevada Gold Corp		1,518
	18,209		AMCOL International Corp		477

249

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	18,079		American Vanguard Corp	$	112
	52,265		Aptargroup, Inc		2,387
	17,411		Arch Chemicals, Inc		611
	60,252		Ashland, Inc		2,938
	21,090		Balchem Corp		651
	69,573		Ball Corp		4,095
	81,337		Bemis Co		2,582
	49,983	*	Boise, Inc		324
	14,781	*	Brush Engineered Materials, Inc		420
	26,323		Buckeye Technologies, Inc		387
	50,868		Cabot Corp		1,657
	45,612	*	Calgon Carbon Corp		661
	59,798	*	Capital Gold Corp		289
	34,840		Carpenter Technology Corp		1,174
	11,808	*	Castle (A.M.) & Co		156
	120,746		Celanese Corp (Series A)		3,876
	42,600	*	Century Aluminum Co		561
	53,560		CF Industries Holdings, Inc		5,115
	8,801	*	Clearwater Paper Corp		670
	103,149		Cleveland-Cliffs, Inc		6,593
	69,583	*	Coeur d’Alene Mines Corp		1,386
	86,134		Commercial Metals Co		1,248
	25,270		Compass Minerals International, Inc		1,936
	121,785	*	Crown Holdings, Inc		3,490
	38,318		Cytec Industries, Inc		2,160
	9,014		Deltic Timber Corp		404
	32,513		Domtar Corporation		2,100
	884,472		Dow Chemical Co		24,288
	691,653		Du Pont (E.I.) de Nemours & Co		30,863
	33,735		Eagle Materials, Inc		800
	55,878		Eastman Chemical Co		4,135
	178,172		Ecolab, Inc		9,040
	66,070	*	Ferro Corp		852
	54,712		FMC Corp		3,743
	359,361		Freeport-McMoRan Copper & Gold, Inc (Class B)		30,687
	48,402	*	General Moly, Inc		177
	25,535	*	Georgia Gulf Corp		417
	35,119		Glatfelter		427
	47,286	*	Globe Specialty Metals, Inc		664
	196,126	*	Golden Star Resources Ltd		969
	13,000	*	Graham Packaging Co, Inc		154
	86,187	*	Graphic Packaging Holding Co		288
	26,849		Greif, Inc (Class A)		1,580
	36,079		H.B. Fuller Co		717
	6,809		Hawkins, Inc		241
	9,402		Haynes International, Inc		328
	54,162	*	Headwaters, Inc		195
	180,218	*	Hecla Mining Co		1,139
	33,599	*	Horsehead Holding Corp		332
	141,592		Huntsman Corp		1,637
	16,427		Innophos Holdings, Inc		544
	61,427		International Flavors & Fragrances, Inc		2,980

250

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	333,283		International Paper Co	$	7,249
	33,342	*	Intrepid Potash, Inc		869
	65,101	*	Jaguar Mining, Inc		423
	11,905		Kaiser Aluminum Corp		509
	25,561	*	Kapstone Paper and Packaging Corp		310
	4,800		KMG Chemicals, Inc		68
	16,539		Koppers Holdings, Inc		444
	8,500	*	KRATON Polymers LLC		231
	14,893	*	Landec Corp		92
	91,007	*	Louisiana-Pacific Corp		689
	16,187	*	LSB Industries, Inc		301
	52,604		Lubrizol Corp		5,574
	35,019		Martin Marietta Materials, Inc		2,695
	131,629		MeadWestvaco Corp		3,209
	8,652	*	Metals USA Holdings Corp		112
	14,800		Minerals Technologies, Inc		872
	19,600	*	Molycorp, Inc		554
	416,069		Monsanto Co		19,942
	120,499		Mosaic Co		7,081
	23,791		Myers Industries, Inc		204
	100,113		Nalco Holding Co		2,524
	11,726		Neenah Paper, Inc		178
	7,956		NewMarket Corp		904
	363,189		Newmont Mining Corp		22,813
	4,943		NL Industries, Inc		45
	8,552	*	Noranda Aluminium Holding Corp		70
	240,914		Nucor Corp		9,204
	63,038		Olin Corp		1,271
	9,331		Olympic Steel, Inc		215
	23,303	*	OM Group, Inc		702
	32,453	*	Omnova Solutions, Inc		233
	127,123	*	Owens-Illinois, Inc		3,567
	79,420		Packaging Corp of America		1,840
	102,451	*	Pactiv Corp		3,379
	67,684	*	PolyOne Corp		818
	126,907		PPG Industries, Inc		9,239
	233,284		Praxair, Inc		21,056
	7,327		Quaker Chemical Corp		239
	55,860		Reliance Steel & Aluminum Co		2,320
	28,937		Rock-Tenn Co (Class A)		1,441
	40,015	*	Rockwood Holdings, Inc		1,259
	39,244		Royal Gold, Inc		1,956
	98,223		RPM International, Inc		1,957
	23,200	*	RTI International Metals, Inc		710
	16,575		Schnitzer Steel Industries, Inc (Class A)		800
	14,072		Schweitzer-Mauduit International, Inc		821
	34,625		Scotts Miracle-Gro Co (Class A)		1,791
	123,206		Sealed Air Corp		2,770
	30,735	*	Senomyx, Inc		122
	38,347		Sensient Technologies Corp		1,169
	69,942		Sherwin-Williams Co		5,255
	92,044		Sigma-Aldrich Corp		5,558

251

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	40,280		Silgan Holdings, Inc	$	1,277
	93,627	*	Solutia, Inc		1,500
	77,510		Sonoco Products Co		2,592
	130,495		Southern Copper Corp (NY)		4,583
	25,932	*	Spartech Corp		213
	165,292		Steel Dynamics, Inc		2,332
	5,500		Stepan Co		325
	34,216	*	Stillwater Mining Co		576
	21,697	*	STR Holdings, Inc		467
	83,185		Temple-Inland, Inc		1,552
	14,719		Texas Industries, Inc		464
	6,142	*	Texas Petrochemicals, Inc		146
	107,058	*	Thompson Creek Metals Co, Inc		1,154
	65,998	*	Titanium Metals Corp		1,317
	1,357	*	United States Lime & Minerals, Inc		52
	108,604		United States Steel Corp		4,761
	4,623	*	Universal Stainless & Alloy		114
	21,458	*	US Energy Corp Wyoming		97
	68,813	*	US Gold Corp		342
	76,637		Valspar Corp		2,441
	98,368		Vulcan Materials Co		3,632
	40,449		Walter Energy, Inc		3,288
	37,679	*	Wausau Paper Corp		312
	15,532		Westlake Chemical Corp		465
	46,555		Worthington Industries, Inc		700
	54,089	*	WR Grace & Co		1,511
	15,316		Zep, Inc		267
	19,213	*	Zoltek Cos, Inc		187
			TOTAL MATERIALS		397,213
MEDIA - 3.0%
	13,486	*	AH Belo Corp (Class A)		95
	20,466		Arbitron, Inc		572
	10,098	*	Ascent Media Corp (Series A)		270
	10,405	*	Ballantyne Strong, Inc		90
	72,008	*	Belo (A.H.) Corp (Class A)		446
	179,035		Cablevision Systems Corp (Class A)		4,689
	8,632	*	Carmike Cinemas, Inc		75
	521,879		CBS Corp (Class B)		8,277
	27,491	*	Central European Media Enterprises Ltd (Class A) Nasdaq		686
	39,403		Cinemark Holdings, Inc		634
	44,420	*	CKX, Inc		218
	28,047	*	Clear Channel Outdoor Holdings, Inc (Class A)		321
	2,148,426		Comcast Corp (Class A)		38,844
	13,062	*	Crown Media Holdings, Inc (Class A)		31
	17,373	*	Cumulus Media, Inc (Class A)		49
	38,457	*	Dex One Corp		472
	677,072	*	DIRECTV		28,187
	216,573	*	Discovery Communications, Inc (Class A)		9,432
	150,884		DISH Network Corp (Class A)		2,891
	55,399	*	DreamWorks Animation SKG, Inc (Class A)		1,768
	18,269	*	Entercom Communications Corp (Class A)		144

252

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	38,482	*	Entravision Communications Corp (Class A)	$	77
	21,197	*	EW Scripps Co (Class A)		167
	5,404	*	Fisher Communications, Inc		94
	184,081		Gannett Co, Inc		2,251
	8,856	*	Global Sources Ltd		67
	37,922	*	Gray Television, Inc		76
	33,505		Harte-Hanks, Inc		391
	376,254	*	Interpublic Group of Cos, Inc		3,774
	33,375		John Wiley & Sons, Inc (Class A)		1,364
	42,642	*	Journal Communications, Inc (Class A)		192
	23,300	*	Knology, Inc		313
	43,505	*	Lamar Advertising Co (Class A)		1,384
	35,471	*	Lee Enterprises, Inc		95
	180,524	*	Liberty Global, Inc (Class A)		5,562
	60,143	*	Liberty Media Corp - Capital (Series A)		3,131
	38,682	*	Liberty Media Corp - Starz		2,510
	29,608	*	Lin TV Corp (Class A)		131
	52,820	*	Lions Gate Entertainment Corp		388
	108,249	*	Live Nation, Inc		1,070
	14,920	*	Lodgenet Entertainment Corp		42
	45,616	*	Madison Square Garden, Inc		962
	29,313	*	Martha Stewart Living Omnimedia, Inc (Class A)		139
	25,376	*	McClatchy Co (Class A)		100
	240,494		McGraw-Hill Cos, Inc		7,951
	16,772	*	Media General, Inc (Class A)		150
	36,987	*	Mediacom Communications Corp (Class A)		244
	26,535		Meredith Corp		884
	16,901	*	Morningstar, Inc		753
	30,800		National CineMedia, Inc		551
	104,815	*	New York Times Co (Class A)		811
	1,743,736		News Corp (Class A)		22,773
	7,914	*	Nexstar Broadcasting Group, Inc (Class A)		41
	234,585		Omnicom Group, Inc		9,261
	11,051	*	Outdoor Channel Holdings, Inc		61
	12,663	*	Playboy Enterprises, Inc (Class B)		65
	31,380		Primedia, Inc		119
	24,625	*	Radio One, Inc		22
	3,854	*	ReachLocal, Inc		53
	60,087		Regal Entertainment Group (Class A)		788
	7,217	*	Rentrak Corp		182
	22,736		Scholastic Corp		633
	69,106		Scripps Networks Interactive (Class A)		3,288
	34,573	*	Sinclair Broadcast Group, Inc (Class A)		243
	2,914,689	*	Sirius XM Radio, Inc		3,498
	10,001	*	SuperMedia, Inc		106
	286,206		Thomson Corp		10,741
	269,897		Time Warner Cable, Inc		14,572
	870,042		Time Warner, Inc		26,667
	38,340	*	Valassis Communications, Inc		1,299
	463,074		Viacom, Inc (Class B)		16,759
	256,036		Virgin Media, Inc		5,894
	1,495,715		Walt Disney Co		49,522

253

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	39,735	*	Warner Music Group Corp	$	179
	4,650		Washington Post Co (Class B)		1,857
	3,997	*	Westwood One, Inc		34
	18,692		World Wrestling Entertainment, Inc (Class A)		260
			TOTAL MEDIA		302,732
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.3%
	1,178,349		Abbott Laboratories		61,558
	5,487	*	Abraxis Bioscience, Inc		424
	38,595	*	Accelrys, Inc		269
	29,951	*	Acorda Therapeutics, Inc		989
	6,188	*	Acura Pharmaceuticals, Inc		15
	14,564	*	Affymax, Inc		87
	56,476	*	Affymetrix, Inc		258
	31,521	*	Akorn, Inc		127
	17,349	*	Albany Molecular Research, Inc		111
	69,087	*	Alexion Pharmaceuticals, Inc		4,446
	29,730	*	Alexza Pharmaceuticals, Inc		94
	70,988	*	Alkermes, Inc		1,040
	231,686		Allergan, Inc		15,414
	63,430	*	Allos Therapeutics, Inc		299
	27,380	*	Alnylam Pharmaceuticals, Inc		336
	16,995	*	AMAG Pharmaceuticals, Inc		292
	731,615	*	Amgen, Inc		40,319
	110,387	*	Amylin Pharmaceuticals, Inc		2,302
	12,961	*	Ardea Biosciences, Inc		298
	86,496	*	Arena Pharmaceuticals, Inc		136
	95,008	*	Ariad Pharmaceuticals, Inc		363
	31,352	*	Arqule, Inc		161
	33,623	*	Array Biopharma, Inc		109
	33,391	*	Auxilium Pharmaceuticals, Inc		827
	68,911	*	AVANIR Pharmaceuticals, Inc		220
	6,772	*	AVEO Pharmaceuticals, Inc		75
	59,505	*	AVI BioPharma, Inc		109
	22,254	*	BioCryst Pharmaceuticals, Inc		110
	7,894	*	Biodel, Inc		42
	184,716	*	Biogen Idec, Inc		10,366
	76,417	*	BioMarin Pharmaceuticals, Inc		1,708
	8,360	*	BioMimetic Therapeutics, Inc		95
	14,217	*	Bio-Rad Laboratories, Inc (Class A)		1,287
	50,971	*	Biosante Pharmaceuticals, Inc		86
	2,885	*	Biospecifics Technologies Corp		78
	16,168	*	Biotime, Inc		77
	19,314	*	BMP Sunstone Corp		147
	1,313,307		Bristol-Myers Squibb Co		35,605
	55,811	*	Bruker BioSciences Corp		783
	17,732	*	Cadence Pharmaceuticals, Inc		148
	34,601	*	Caliper Life Sciences, Inc		138
	20,927	*	Cambrex Corp		89
	5,883	*	Caraco Pharmaceutical Laboratories Ltd		32
	62,836	*	Celera Corp		424
	353,042	*	Celgene Corp		20,339

254

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,391	*	Celldex Therapeutics, Inc	$	98
	56,502	*	Cephalon, Inc		3,528
	45,716	*	Cepheid, Inc		855
	50,891	*	Charles River Laboratories International, Inc		1,687
	14,400	*	Chelsea Therapeutics International, Inc		74
	17,449	*	China Aoxing Pharmaceutical Co, Inc		53
	7,443	*	Clinical Data, Inc		126
	4,625	*	Codexis, Inc		44
	51,595	*	Combinatorx, Inc		67
	7,338	*	Compound partnering business		83
	19,348	*	Corcept Therapeutics, Inc		75
	5,072	*	Cornerstone Therapeutics, Inc		36
	50,029	*	Covance, Inc		2,341
	45,663	*	Cubist Pharmaceuticals, Inc		1,068
	9,817	*	Cumberland Pharmaceuticals, Inc		57
	47,886	*	Curis, Inc		66
	35,559	*	Cypress Bioscience, Inc		137
	33,643	*	Cytokinetics, Inc		89
	30,280	*	Cytori Therapeutics, Inc		148
	80,922	*	Cytrx		61
	109,911	*	Dendreon Corp		4,526
	56,725	*	Depomed, Inc		254
	12,962	*	Dionex Corp		1,120
	50,131	*	Durect Corp		127
	69,074	*	Dyax Corp		164
	55,178	*	Dynavax Technologies Corp		101
	772,087		Eli Lilly & Co		28,204
	12,093	*	Emergent Biosolutions, Inc		209
	89,664	*	Endo Pharmaceuticals Holdings, Inc		2,980
	18,855	*	Enzo Biochem, Inc		72
	43,349	*	Enzon Pharmaceuticals, Inc		488
	35,238	*	eResearch Technology, Inc		264
	13,986	*	Eurand NV		138
	27,087	*	Exact Sciences Corp		196
	87,374	*	Exelixis, Inc		343
	217,582	*	Forest Laboratories, Inc		6,730
	11,423	*	Genomic Health, Inc		153
	202,644	*	Genzyme Corp		14,345
	88,925	*	Geron Corp		492
	645,922	*	Gilead Sciences, Inc		23,001
	59,871	*	Halozyme Therapeutics, Inc		462
	6,140	*	Hi-Tech Pharmacal Co, Inc		124
	144,582	*	Human Genome Sciences, Inc		4,307
	27,652	*	Idenix Pharmaceuticals, Inc		86
	93,920	*	Illumina, Inc		4,621
	54,113	*	Immunogen, Inc		339
	54,649	*	Immunomedics, Inc		176
	46,831	*	Impax Laboratories, Inc		927
	67,377	*	Incyte Corp		1,077
	14,237	*	Infinity Pharmaceuticals, Inc		78
	36,185	*	Inhibitex, Inc		65
	60,884	*	Inovio Biomedical Corp		76

255

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	47,438	*	Inspire Pharmaceuticals, Inc	$	282
	30,010	*	InterMune, Inc		409
	14,813	*	Ironwood Pharmaceuticals, Inc		151
	74,058	*	Isis Pharmaceuticals, Inc		622
	12,001	*	Jazz Pharmaceuticals, Inc		129
	2,105,654		Johnson & Johnson		130,467
	10,294	*	Kendle International, Inc		96
	39,709	*	Keryx Biopharmaceuticals, Inc		191
	190,295	*	King Pharmaceuticals, Inc		1,895
	7,363	*	Lannett Co, Inc		34
	154,334	*	Lexicon Pharmaceuticals, Inc		247
	138,630	*	Life Technologies Corp		6,472
	87,765	*	Ligand Pharmaceuticals, Inc (Class B)		139
	31,134	*	Luminex Corp		498
	40,693	*	MannKind Corp		275
	10,443	*	MAP Pharmaceuticals, Inc		160
	25,699	*	Martek Biosciences Corp		582
	16,427	*	Maxygen, Inc		95
	40,166	*	Medicines Co		570
	45,638		Medicis Pharmaceutical Corp (Class A)		1,353
	28,163	*	Medivation, Inc		366
	2,380,454		Merck & Co, Inc		87,626
	17,882	*	Metabolix, Inc		225
	25,184	*	Mettler-Toledo International, Inc		3,134
	60,776	*	Micromet, Inc		408
	34,069	*	Momenta Pharmaceuticals, Inc		513
	235,323	*	Mylan Laboratories, Inc		4,426
	72,298	*	Myriad Genetics, Inc		1,186
	40,164	*	Nabi Biopharmaceuticals		193
	8,950	*	Nanosphere, Inc		45
	76,148	*	Nektar Therapeutics		1,125
	19,348	*	Neostem, Inc		39
	33,107	*	Neuralstem, Inc		83
	37,513	*	Neurocrine Biosciences, Inc		227
	7,464	*	NeurogesX, Inc		52
	69,550	*	Novavax, Inc		152
	45,495	*	NPS Pharmaceuticals, Inc		311
	15,169	*	Nymox Pharmaceutical Corp		54
	12,855	*	Obagi Medical Products, Inc		135
	13,807	*	Omeros Corp		101
	48,332	*	Onyx Pharmaceuticals, Inc		1,275
	69,903	*	Opko Health, Inc		157
	22,266	*	Optimer Pharmaceuticals, Inc		204
	23,670	*	Orexigen Therapeutics, Inc		140
	12,630	*	Osiris Therapeutics, Inc		92
	24,948	*	Pain Therapeutics, Inc		154
	26,028	*	Par Pharmaceutical Cos, Inc		757
	46,868	*	Parexel International Corp		1,084
	84,067		PDL BioPharma, Inc		442
	39,629	*	Peregrine Pharmaceuticals, Inc		57
	89,639		PerkinElmer, Inc		2,074
	61,547		Perrigo Co		3,953

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	6,157,268		Pfizer, Inc	$	105,721
	81,377		Pharmaceutical Product Development, Inc		2,017
	28,599	*	Pharmacyclics, Inc		231
	22,523	*	Pharmasset, Inc		664
	15,548	*	Pozen, Inc		110
	15,641	*	Progenics Pharmaceuticals, Inc		79
	26,244	*	Pure Bioscience		61
	45,923	*	Questcor Pharmaceuticals, Inc		456
	50,216	*	Regeneron Pharmaceuticals, Inc		1,376
	38,564	*	Rigel Pharmaceuticals, Inc		324
	43,161	*	Salix Pharmaceuticals Ltd		1,714
	32,625	*	Sangamo Biosciences, Inc		112
	40,020	*	Santarus, Inc		120
	50,281	*	Savient Pharmaceuticals, Inc		1,150
	28,586	*	Sciclone Pharmaceuticals, Inc		75
	64,120	*	Seattle Genetics, Inc		996
	47,243	*	Sequenom, Inc		331
	19,701	*	SIGA Technologies, Inc		167
	22,720	*	Somaxon Pharmaceuticals, Inc		88
	47,540	*	Spectrum Pharmaceuticals, Inc		198
	77,753	*	StemCells, Inc		65
	6,322	*	Sucampo Pharmaceuticals, Inc (Class A)		24
	44,629	*	SuperGen, Inc		93
	11,524	*	Synta Pharmaceuticals Corp		46
	38,600	*	Talecris Biotherapeutics Holdings Corp		883
	18,344	*	Targacept, Inc		410
	28,421		Techne Corp		1,754
	50,548	*	Theravance, Inc		1,016
	312,461	*	Thermo Electron Corp		14,960
	38,302	*	United Therapeutics Corp		2,145
	26,661	*	Vanda Pharmaceuticals, Inc		178
	154,037	*	Vertex Pharmaceuticals, Inc		5,325
	44,579	*	Vical, Inc		99
	60,661	*	Viropharma, Inc		904
	62,291	*	Vivus, Inc		417
	69,342		Warner Chilcott plc		1,556
	70,448	*	Waters Corp		4,986
	85,803	*	Watson Pharmaceuticals, Inc		3,630
	22,676	*	Xenoport, Inc		161
	38,472	*	ZIOPHARM Oncology, Inc		144
	39,965	*	Zymogenetics, Inc		390
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		719,803
REAL ESTATE - 2.7%
	30,272		Acadia Realty Trust		575
	5,860		Agree Realty Corp		148
	1,423		Alexander’s, Inc		449
	41,774		Alexandria Real Estate Equities, Inc		2,924
	129,655		AMB Property Corp		3,432
	49,786		American Campus Communities, Inc		1,515
	23,512		American Capital Agency Corp		625
	470,783		Annaly Mortgage Management, Inc		8,286

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	87,436		Anworth Mortgage Asset Corp	$	623
	90,448		Apartment Investment & Management Co (Class A)		1,934
	7,800		Apollo Commercial Real Estate Finance, Inc		125
	34,038	*	Ashford Hospitality Trust, Inc		308
	24,383		Associated Estates Realty Corp		341
	63,799		AvalonBay Communities, Inc		6,631
	7,072	*	Avatar Holdings, Inc		135
	90,086		BioMed Realty Trust, Inc		1,614
	106,071		Boston Properties, Inc		8,817
	101,192		Brandywine Realty Trust		1,240
	49,261		BRE Properties, Inc (Class A)		2,044
	50,873		Camden Property Trust		2,440
	54,804		Capital Lease Funding, Inc		306
	53,838		Capstead Mortgage Corp		585
	216,135	*	CB Richard Ellis Group, Inc (Class A)		3,950
	106,965		CBL & Associates Properties, Inc		1,397
	41,738		Cedar Shopping Centers, Inc		254
	6,764	*	Chatham Lodging Trust		126
	5,500		Chesapeake Lodging Trust		90
	675,320		Chimera Investment Corp		2,668
	39,627		Cogdell Spencer, Inc		250
	53,928		Colonial Properties Trust		873
	11,100		Colony Financial, Inc		205
	4,977		Consolidated-Tomoka Land Co		142
	44,977		Corporate Office Properties Trust		1,678
	66,741		Cousins Properties, Inc		477
	10,600		CreXus Investment Corp		128
	16,956		Cypress Sharpridge Investments, Inc		226
	158,800		DCT Industrial Trust, Inc		761
	153,986		Developers Diversified Realty Corp		1,728
	116,611		DiamondRock Hospitality Co		1,107
	66,471		Digital Realty Trust, Inc		4,101
	94,119		Douglas Emmett, Inc		1,648
	192,154		Duke Realty Corp		2,227
	31,857		DuPont Fabros Technology, Inc		801
	9,022		Dynex Capital, Inc		97
	20,779		EastGroup Properties, Inc		777
	43,827		Education Realty Trust, Inc		313
	35,904		Entertainment Properties Trust		1,550
	19,332		Equity Lifestyle Properties, Inc		1,053
	26,061		Equity One, Inc		440
	216,420		Equity Residential		10,295
	23,054		Essex Property Trust, Inc		2,523
	11,724		Excel Trust, Inc		132
	64,214		Extra Space Storage, Inc		1,030
	46,343		Federal Realty Investment Trust		3,784
	74,227	*	FelCor Lodging Trust, Inc		341
	51,100	*	First Industrial Realty Trust, Inc		259
	32,992		First Potomac Realty Trust		495
	97,002	*	Forest City Enterprises, Inc (Class A)		1,245
	29,389	*	Forestar Real Estate Group, Inc		501
	56,329		Franklin Street Properties Corp		700

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	190,410	b	General Growth Properties, Inc	$	2,970
	14,898		Getty Realty Corp		400
	6,667		Gladstone Commercial Corp		114
	57,426		Glimcher Realty Trust		353
	14,181		Government Properties Income Trust		379
	28,036		Hatteras Financial Corp		798
	233,382		HCP, Inc		8,397
	102,094		Health Care REIT, Inc		4,833
	48,074		Healthcare Realty Trust, Inc		1,124
	89,483		Hersha Hospitality Trust		464
	54,288		Highwoods Properties, Inc		1,763
	30,266		Home Properties, Inc		1,601
	94,278		Hospitality Properties Trust		2,105
	502,942		Host Marriott Corp		7,283
	49,494		HRPT Properties Trust		1,267
	7,900		Hudson Pacific Properties		129
	53,550		Inland Real Estate Corp		445
	20,600		Invesco Mortgage Capital, Inc		443
	61,579		Investors Real Estate Trust		516
	87,538	*	iStar Financial, Inc		268
	32,173		Jones Lang LaSalle, Inc		2,776
	16,390	*	Kennedy-Wilson Holdings, Inc		174
	41,516		Kilroy Realty Corp		1,376
	312,567		Kimco Realty Corp		4,923
	35,097		Kite Realty Group Trust		156
	52,068		LaSalle Hotel Properties		1,218
	76,013		Lexington Corporate Properties Trust		544
	85,677		Liberty Property Trust		2,733
	18,155		LTC Properties, Inc		463
	100,140		Macerich Co		4,301
	59,666		Mack-Cali Realty Corp		1,952
	37,179	*	Maguire Properties, Inc		93
	86,187		Medical Properties Trust, Inc		874
	204,955		MFA Mortgage Investments, Inc		1,564
	23,305		Mid-America Apartment Communities, Inc		1,358
	14,218		Mission West Properties, Inc		96
	20,723		Monmouth Real Estate Investment Corp (Class A)		162
	18,385		National Health Investors, Inc		810
	63,454		National Retail Properties, Inc		1,593
	92,291		Nationwide Health Properties, Inc		3,569
	30,518	*	Newcastle Investment Corp		95
	63,283		NorthStar Realty Finance Corp		237
	32,022		NRDC Acquisition Corp		306
	70,665		Omega Healthcare Investors, Inc		1,586
	6,398		One Liberty Properties, Inc		102
	16,523		Parkway Properties, Inc		245
	26,100	*	Pebblebrook Hotel Trust		470
	39,626		Pennsylvania Real Estate Investment Trust		470
	11,300		Pennymac Mortgage Investment Trust		202
	40,500		Piedmont Office Realty Trust, Inc		766
	123,433		Plum Creek Timber Co, Inc		4,357
	36,066		Post Properties, Inc		1,007

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	30,874		Potlatch Corp	$	1,050
	367,787		Prologis		4,333
	13,782		PS Business Parks, Inc		780
	106,768		Public Storage, Inc		10,361
	30,770	*	RAIT Investment Trust		51
	29,459		Ramco-Gershenson Properties		316
	59,687		Rayonier, Inc		2,992
	80,437		Realty Income Corp		2,712
	59,452		Redwood Trust, Inc		860
	61,243		Regency Centers Corp		2,417
	32,667		Resource Capital Corp		207
	4,382		Saul Centers, Inc		184
	98,382		Senior Housing Properties Trust		2,312
	223,537		Simon Property Group, Inc		20,730
	60,155		SL Green Realty Corp		3,810
	21,282		Sovran Self Storage, Inc		807
	69,749	*	St. Joe Co		1,735
	36,500		Starwood Property Trust, Inc		725
	118,688	*	Strategic Hotels & Resorts, Inc		503
	14,717		Sun Communities, Inc		452
	79,458	*	Sunstone Hotel Investors, Inc		721
	31,091		Tanger Factory Outlet Centers, Inc		1,466
	42,522		Taubman Centers, Inc		1,897
	11,747	*	Tejon Ranch Co		255
	6,500	*	Terreno Realty Corp		118
	26,189		Thomas Properties Group, Inc		93
	19,797		Two Harbors Investment Corp		179
	138,969		UDR, Inc		2,935
	6,794		UMH Properties, Inc		73
	10,285		Universal Health Realty Income Trust		354
	19,529		Urstadt Biddle Properties, Inc (Class A)		353
	72,463		U-Store-It Trust		605
	120,079		Ventas, Inc		6,192
	123,063		Vornado Realty Trust		10,526
	17,446		Walter Investment Management Corp		305
	45,489		Washington Real Estate Investment Trust		1,443
	88,505		Weingarten Realty Investors		1,931
	398,659		Weyerhaeuser Co		6,283
	11,543		Winthrop Realty Trust		143
			TOTAL REAL ESTATE		264,908
RETAILING - 3.8%
	14,742	*	1-800-FLOWERS.COM, Inc (Class A)		28
	34,292	*	99 Cents Only Stores		647
	56,057		Aaron Rents, Inc		1,034
	68,065		Abercrombie & Fitch Co (Class A)		2,676
	66,226		Advance Auto Parts		3,886
	72,957	*	Aeropostale, Inc		1,696
	267,127	*	Amazon.com, Inc		41,955
	157,722		American Eagle Outfitters, Inc		2,360
	6,968	*	America’s Car-Mart, Inc		175
	42,913	*	AnnTaylor Stores Corp		869

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,614	*	Asbury Automotive Group, Inc	$	276
	10,900	*	Audiovox Corp (Class A)		75
	50,389	*	Autonation, Inc		1,172
	20,983	*	Autozone, Inc		4,803
	28,636		Barnes & Noble, Inc		464
	23,033		Bebe Stores, Inc		166
	200,871	*	Bed Bath & Beyond, Inc		8,720
	263,552		Best Buy Co, Inc		10,761
	15,894		Big 5 Sporting Goods Corp		213
	62,483	*	Big Lots, Inc		2,078
	8,566	*	Blue Nile, Inc		381
	9,116	*	Bon-Ton Stores, Inc/the		93
	5,600		Books-A-Million, Inc		34
	41,091	*	Borders Group, Inc		49
	32,106		Brown Shoe Co, Inc		368
	19,480		Buckle, Inc		517
	10,668	*	Build-A-Bear Workshop, Inc		65
	30,566	*	Cabela’s, Inc		580
	173,107	*	Carmax, Inc		4,823
	32,976	*	Casual Male Retail Group, Inc		135
	21,208		Cato Corp (Class A)		568
	84,814	*	Charming Shoppes, Inc		299
	136,751		Chico’s FAS, Inc		1,439
	20,820	*	Children’s Place Retail Stores, Inc		1,015
	27,159		Christopher & Banks Corp		215
	12,866	*	Citi Trends, Inc		311
	46,768	*	Coldwater Creek, Inc		246
	48,995	*	Collective Brands, Inc		791
	8,648	*	Conn’s, Inc		40
	8,334	*	Core-Mark Holding Co, Inc		258
	3,762	*	Destination Maternity Corp		124
	67,126	*	Dick’s Sporting Goods, Inc		1,882
	35,338		Dillard’s, Inc (Class A)		835
	52,512	*	Dollar General Corp		1,536
	96,091	*	Dollar Tree, Inc		4,685
	45,763	*	Dress Barn, Inc		1,087
	61,220	*	Drugstore.Com		118
	12,248	*	DSW, Inc (Class A)		352
	158,241		Expedia, Inc		4,464
	12,097	*	Express Parent LLC		184
	102,098		Family Dollar Stores, Inc		4,509
	39,004		Finish Line, Inc (Class A)		543
	119,112		Foot Locker, Inc		1,731
	29,664		Fred’s, Inc (Class A)		350
	11,202		Gaiam, Inc (Class A)		75
	117,815	*	GameStop Corp (Class A)		2,322
	324,261		Gap, Inc		6,044
	18,687	*	Genesco, Inc		558
	120,655		Genuine Parts Co		5,379
	17,217	*	Group 1 Automotive, Inc		514
	47,951		Guess ?, Inc		1,948
	22,405	*	Gymboree Corp		931

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	16,062		Haverty Furniture Cos, Inc	$	175
	9,008	*	hhgregg, Inc		223
	20,590	*	Hibbett Sports, Inc		514
	1,293,091		Home Depot, Inc		40,964
	36,184		Hot Topic, Inc		217
	30,139	*	HSN, Inc		901
	41,094	*	J Crew Group, Inc		1,382
	179,300		JC Penney Co, Inc		4,873
	20,233	*	Jo-Ann Stores, Inc		901
	19,864	*	JOS A Bank Clothiers, Inc		846
	13,001	*	Kirkland’s, Inc		180
	235,033	*	Kohl’s Corp		12,382
	460,658	*	Liberty Media Holding Corp (Interactive A)		6,316
	206,045		Limited Brands, Inc		5,518
	20,412		Lithia Motors, Inc (Class A)		196
	110,420	*	LKQ Corp		2,297
	1,101,080		Lowe’s Cos, Inc		24,543
	16,815	*	Lumber Liquidators, Inc		413
	321,128		Macy’s, Inc		7,415
	16,477	*	MarineMax, Inc		116
	40,609		Men’s Wearhouse, Inc		966
	10,010	*	Midas, Inc		76
	15,054		Monro Muffler, Inc		694
	30,779	*	NetFlix, Inc		4,991
	15,006	*	New York & Co, Inc		39
	127,077		Nordstrom, Inc		4,727
	24,699		Nutri/System, Inc		475
	212,310	*	Office Depot, Inc		977
	64,982	*	OfficeMax, Inc		851
	23,547	*	Orbitz Worldwide, Inc		148
	106,456	*	O’Reilly Automotive, Inc		5,663
	11,517	*	Overstock.com, Inc		181
	60,325	*	Pacific Sunwear Of California, Inc		315
	30,900	*	Penske Auto Group, Inc		408
	37,199		PEP Boys - Manny Moe & Jack		394
	17,550		PetMed Express, Inc		307
	91,350		Petsmart, Inc		3,197
	81,262	*	Pier 1 Imports, Inc		666
	36,077	*	Priceline.com, Inc		12,567
	95,926		RadioShack Corp		2,046
	50,902		Rent-A-Center, Inc		1,139
	17,729	*	Retail Ventures, Inc		191
	94,342		Ross Stores, Inc		5,153
	11,225	*	Rue21, Inc		290
	102,354	*	Saks, Inc		880
	76,850	*	Sally Beauty Holdings, Inc		861
	35,032	*	Sears Holdings Corp		2,527
	46,381	*	Select Comfort Corp		314
	5,056	*	Shoe Carnival, Inc		102
	19,739	*	Shutterfly, Inc		513
	65,800	*	Signet Jewelers Ltd		2,088
	27,187	*	Sonic Automotive, Inc (Class A)		267

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	30,798		Stage Stores, Inc	$	400
	558,736		Staples, Inc		11,689
	17,973	*	Stein Mart, Inc		159
	9,938		Systemax, Inc		122
	54,244	*	Talbots, Inc		711
	562,444		Target Corp		30,058
	97,585		Tiffany & Co		4,586
	310,597		TJX Companies, Inc		13,862
	56,006		Tractor Supply Co		2,221
	21,617	*	Tuesday Morning Corp		103
	24,222	*	Ulta Salon Cosmetics & Fragrance, Inc		707
	93,986	*	Urban Outfitters, Inc		2,955
	9,604	*	US Auto Parts Network, Inc		79
	10,000	*	Vitacost.com, Inc		60
	12,284	*	Vitamin Shoppe, Inc		337
	11,292	*	West Marine, Inc		115
	73,584	*	Wet Seal, Inc (Class A)		249
	72,475		Williams-Sonoma, Inc		2,297
	1,945		Winmark Corp		65
	13,544	*	Zumiez, Inc		287
			TOTAL RETAILING		371,899
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.7%
	21,535	*	Actel Corp		343
	25,828	*	Advanced Analogic Technologies, Inc		91
	29,482	*	Advanced Energy Industries, Inc		385
	460,514	*	Advanced Micro Devices, Inc		3,274
	3,864	*	Alpha & Omega Semiconductor Lt		44
	229,987		Altera Corp		6,936
	86,945	*	Amkor Technology, Inc		571
	47,982	*	Anadigics, Inc		292
	226,902		Analog Devices, Inc		7,120
	1,021,491		Applied Materials, Inc		11,931
	51,846	*	Applied Micro Circuits Corp		518
	52,890	*	Atheros Communications, Inc		1,394
	360,260	*	Atmel Corp		2,868
	24,963	*	ATMI, Inc		371
	81,773	*	Avago Technologies Ltd		1,841
	78,190	*	Axcelis Technologies, Inc		151
	23,951	*	AXT, Inc		159
	380,138		Broadcom Corp (Class A)		13,453
	52,087	*	Brooks Automation, Inc		350
	17,424	*	Cabot Microelectronics Corp		561
	34,263	*	Cavium Networks, Inc		985
	14,775	*	Ceva, Inc		211
	50,384	*	Cirrus Logic, Inc		899
	15,857		Cohu, Inc		200
	61,297	*	Conexant Systems, Inc		101
	81,881	*	Cree, Inc		4,445
	21,225	*	Cymer, Inc		787
	126,575	*	Cypress Semiconductor Corp		1,592
	24,448	*	Diodes, Inc		418

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	21,955	*	DSP Group, Inc	$	154
	35,344	*	Energy Conversion Devices, Inc		177
	105,554	*	Entegris, Inc		493
	36,843	*	Entropic Communications, Inc		354
	143,685	*	Evergreen Solar, Inc		105
	25,111	*	Exar Corp		150
	95,996	*	Fairchild Semiconductor International, Inc		902
	29,895	*	FEI Co		585
	42,065	*	First Solar, Inc		6,198
	38,173	*	Formfactor, Inc		328
	24,625	*	FSI International, Inc		66
	13,134	*	GSI Technology, Inc		75
	49,455	*	GT Solar International, Inc		414
	19,674	*	Hittite Microwave Corp		937
	124,419	*	Integrated Device Technology, Inc		728
	19,660	*	Integrated Silicon Solution, Inc		169
	4,247,351		Intel Corp		81,678
	54,670	*	International Rectifier Corp		1,153
	94,162		Intersil Corp (Class A)		1,101
	16,725	*	IXYS Corp		160
	128,412		Kla-Tencor Corp		4,524
	50,517	*	Kopin Corp		179
	53,200	*	Kulicke & Soffa Industries, Inc		329
	95,532	*	Lam Research Corp		3,998
	81,127	*	Lattice Semiconductor Corp		385
	172,947		Linear Technology Corp		5,315
	504,520	*	LSI Logic Corp		2,301
	112,581	*	LTX-Credence Corp		235
	412,616	*	Marvell Technology Group Ltd		7,225
	39,119	*	Mattson Technology, Inc		108
	233,408		Maxim Integrated Products, Inc		4,320
	5,588	*	MaxLinear, Inc		63
	172,909	*	MEMC Electronic Materials, Inc		2,061
	40,439		Micrel, Inc		399
	142,077		Microchip Technology, Inc		4,468
	650,730	*	Micron Technology, Inc		4,692
	62,654	*	Microsemi Corp		1,075
	45,471	*	Microtune, Inc		132
	24,281	*	Mindspeed Technologies, Inc		189
	33,720	*	MIPS Technologies, Inc		328
	38,788	*	MKS Instruments, Inc		697
	21,910	*	Monolithic Power Systems, Inc		358
	20,301	*	MoSys, Inc		99
	13,765	*	Nanometrics, Inc		207
	183,833		National Semiconductor Corp		2,348
	47,835	*	Netlogic Microsystems, Inc		1,319
	70,808	*	Novellus Systems, Inc		1,882
	3,184	*	NVE Corp		137
	436,646	*	Nvidia Corp		5,100
	39,050	*	Omnivision Technologies, Inc		900
	334,921	*	ON Semiconductor Corp		2,415
	17,237	*	PDF Solutions, Inc		64

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,298	*	Pericom Semiconductor Corp	$	168
	39,345	*	Photronics, Inc		208
	26,715	*	PLX Technology, Inc		97
	173,538	*	PMC - Sierra, Inc		1,277
	20,115		Power Integrations, Inc		639
	80,610	*	Rambus, Inc		1,680
	197,404	*	RF Micro Devices, Inc		1,212
	11,027	*	Rubicon Technology, Inc		250
	20,900	*	Rudolph Technologies, Inc		174
	47,571	*	Semtech Corp		960
	27,850	*	Sigma Designs, Inc		320
	56,384	*	Silicon Image, Inc		270
	33,588	*	Silicon Laboratories, Inc		1,231
	136,529	*	Skyworks Solutions, Inc		2,823
	9,980	*	Spansion, Inc		149
	18,903	*	Standard Microsystems Corp		431
	74,916	*	Sunpower Corp (Class A)		1,079
	8,595	*	Supertex, Inc		190
	135,531	*	Teradyne, Inc		1,510
	36,930	*	Tessera Technologies, Inc		683
	933,392		Texas Instruments, Inc		25,332
	40,125	*	Trident Microsystems, Inc		69
	121,131	*	Triquint Semiconductor, Inc		1,163
	17,159	*	Ultra Clean Holdings		148
	18,851	*	Ultratech, Inc		322
	56,829	*	Varian Semiconductor Equipment Associates, Inc		1,636
	31,233	*	Veeco Instruments, Inc		1,089
	18,190	*	Volterra Semiconductor Corp		391
	201,213		Xilinx, Inc		5,354
	42,064	*	Zoran Corp		321
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		267,246
SOFTWARE & SERVICES - 8.8%
	466,048		Accenture plc		19,801
	27,282	*	ACI Worldwide, Inc		611
	400,384		Activision Blizzard, Inc		4,332
	40,528	*	Actuate Corp		209
	52,067	*	Acxiom Corp		826
	402,989	*	Adobe Systems, Inc		10,537
	12,368	*	Advent Software, Inc		645
	138,749	*	Akamai Technologies, Inc		6,962
	41,169	*	Alliance Data Systems Corp		2,687
	156,380	*	Amdocs Ltd		4,482
	15,720	*	American Software, Inc (Class A)		93
	14,356	*	Ancestry.com, Inc		327
	68,574	*	Ansys, Inc		2,897
	80,472	*	AOL, Inc		1,992
	5,600	*	Archipelago Learning, Inc		67
	19,064	*	ArcSight, Inc		830
	68,046	*	Ariba, Inc		1,286
	123,012	*	Art Technology Group, Inc		508
	47,691	*	Aspen Technology, Inc		495

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	173,936	*	Autodesk, Inc	$	5,561
	383,271		Automatic Data Processing, Inc		16,109
	35,258		Blackbaud, Inc		848
	27,255	*	Blackboard, Inc		982
	137,695	*	BMC Software, Inc		5,574
	19,249	*	Bottomline Technologies, Inc		296
	105,070		Broadridge Financial Solutions, Inc		2,403
	295,845		CA, Inc		6,248
	23,036	*	CACI International, Inc (Class A)		1,043
	201,713	*	Cadence Design Systems, Inc		1,539
	6,400		Cass Information Systems, Inc		220
	25,953	*,b	CDC Corp		110
	52,926	*	Ciber, Inc		159
	141,433	*	Citrix Systems, Inc		9,651
	228,750	*	Cognizant Technology Solutions Corp (Class A)		14,748
	33,451	*	Commvault Systems, Inc		871
	117,163		Computer Sciences Corp		5,389
	11,045	*	Computer Task Group, Inc		84
	176,651	*	Compuware Corp		1,507
	16,785	*	comScore, Inc		395
	31,023	*	Concur Technologies, Inc		1,534
	21,930	*	Constant Contact, Inc		470
	76,174	*	Convergys Corp		796
	28,626	*	CSG Systems International, Inc		522
	30,663	*	DealerTrack Holdings, Inc		524
	13,498	*	Deltek, Inc		108
	14,464	*	DemandTec, Inc		136
	19,233		Diamond Management & Technology Consultants, Inc		240
	11,372	*	Dice Holdings, Inc		96
	29,296	*	Digital River, Inc		997
	24,156	*	DivX, Inc		230
	5,437	*	DMRC Corp		128
	27,367		DST Systems, Inc		1,227
	82,942		Earthlink, Inc		754
	878,032	*	eBay, Inc		21,424
	19,973	*	Ebix, Inc		468
	7,871	*	Echo Global Logistics, Inc		101
	248,941	*	Electronic Arts, Inc		4,090
	42,487	*	Epicor Software Corp		370
	25,591		EPIQ Systems, Inc		314
	2,603	*	ePlus, Inc		56
	34,607	*	Equinix, Inc		3,542
	36,402	*	Euronet Worldwide, Inc		655
	13,663	*	ExlService Holdings, Inc		266
	35,065		Factset Research Systems, Inc		2,845
	36,812		Fair Isaac Corp		908
	22,225	*	FalconStor Software, Inc		68
	200,974		Fidelity National Information Services, Inc		5,452
	77,697		First American Corp		1,489
	115,963	*	Fiserv, Inc		6,241
	11,266	*	Forrester Research, Inc		373
	30,708	*	Fortinet, Inc		768

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	56,282	*	Gartner, Inc	$	1,657
	50,971	*	Genpact Ltd		904
	38,913	*	Global Cash Access, Inc		159
	60,916		Global Payments, Inc		2,613
	186,139	*	Google, Inc (Class A)		97,869
	47,777	*	GSI Commerce, Inc		1,180
	9,927	*	Guidance Software, Inc		58
	30,102	*	Hackett Group, Inc		124
	28,656		Heartland Payment Systems, Inc		436
	69,461	*	Hewitt Associates, Inc (Class A)		3,503
	70,257	*	IAC/InterActiveCorp		1,846
	17,914		iGate Corp		325
	70,763	*	Informatica Corp		2,718
	23,086	*	Infospace, Inc		200
	11,404	*	Integral Systems, Inc		84
	9,285	*	Interactive Intelligence, Inc		163
	34,783	*	Internap Network Services Corp		171
	977,615		International Business Machines Corp		131,136
	21,159	*	Internet Brands, Inc (Class A)		281
	32,107	*	Internet Capital Group, Inc		354
	214,304	*	Intuit, Inc		9,389
	34,679	*	j2 Global Communications, Inc		825
	64,463		Jack Henry & Associates, Inc		1,644
	32,026	*	JDA Software Group, Inc		812
	17,839	*	Kenexa Corp		313
	10,875		Keynote Systems, Inc		126
	15,369	*	KIT Digital, Inc		184
	19,259	*	Knot, Inc		176
	107,171	*	Lawson Software, Inc		908
	71,376		Lender Processing Services, Inc		2,372
	21,868	*	Limelight Networks, Inc		129
	44,720	*	Lionbridge Technologies		192
	10,323	*	Liquidity Services, Inc		165
	31,275	*	Liveperson, Inc		263
	12,916	*	Local.com Corp		57
	11,477	*	LogMeIn, Inc		413
	19,220	*	LoopNet, Inc		228
	40,409	*	Magma Design Automation, Inc		150
	19,563	*	Manhattan Associates, Inc		574
	15,918	*	Mantech International Corp (Class A)		630
	16,386		Marchex, Inc (Class B)		89
	74,150		Mastercard, Inc (Class A)		16,610
	12,761		MAXIMUS, Inc		786
	117,643	*	McAfee, Inc		5,560
	83,677	*	Mentor Graphics Corp		884
	62,689	*	Micros Systems, Inc		2,654
	5,847,126		Microsoft Corp		143,195
	6,831	*	MicroStrategy, Inc (Class A)		592
	33,165	*	ModusLink Global Solutions, Inc		211
	62,930	*	MoneyGram International, Inc		154
	17,209	*	Monotype Imaging Holdings, Inc		157
	95,930	*	Monster Worldwide, Inc		1,243

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	117,341	*	Move, Inc	$	262
	7,188	*	NCI, Inc (Class A)		136
	21,523	*	Netscout Systems, Inc		441
	12,764	*	NetSuite, Inc		301
	55,861	*	NeuStar, Inc (Class A)		1,389
	38,877		NIC, Inc		322
	263,166	*	Novell, Inc		1,571
	172,341	*	Nuance Communications, Inc		2,695
	14,464	*	Online Resources Corp		64
	12,172	*	OpenTable, Inc		829
	63,876	*	Openwave Systems, Inc		109
	9,552		Opnet Technologies, Inc		173
	2,909,296		Oracle Corp		78,114
	90,859	*	Parametric Technology Corp		1,775
	246,991		Paychex, Inc		6,790
	12,459		Pegasystems, Inc		387
	20,679	*	Perficient, Inc		189
	31,258	*	Progress Software Corp		1,035
	14,689	*	PROS Holdings, Inc		136
	8,302		QAD, Inc		35
	10,200	*	QLIK Technologies, Inc		225
	47,293	*	Quest Software, Inc		1,163
	7,500	*	QuinStreet, Inc		113
	74,873	*	Rackspace Hosting, Inc		1,945
	21,037	*	Radiant Systems, Inc		360
	11,000	*	RealD, Inc		203
	72,153	*	RealNetworks, Inc		235
	10,100	*	RealPage, Inc		193
	143,118	*	Red Hat, Inc		5,868
	10,418		Renaissance Learning, Inc		106
	20,163	*	RightNow Technologies, Inc		397
	8,173	*	Rosetta Stone, Inc		174
	78,700	*	Rovi Corp		3,967
	41,988	*	S1 Corp		219
	18,173	*	Saba Software, Inc		99
	233,841	*	SAIC, Inc		3,737
	87,339	*	Salesforce.com, Inc		9,764
	79,532		Sapient Corp		952
	26,729	*	SAVVIS, Inc		563
	20,806	*	Smith Micro Software, Inc		207
	26,713	*	SolarWinds, Inc		461
	53,861		Solera Holdings, Inc		2,379
	19,655	*	Sonic Solutions, Inc		224
	20,938	*	Sourcefire, Inc		604
	31,079	*	SRA International, Inc (Class A)		613
	8,406	*	SRS Labs, Inc		79
	9,888	*	SS&C Technologies Holdings, Inc		156
	12,380	*	Stamps.com, Inc		161
	48,719	*	SuccessFactors, Inc		1,223
	32,388	*	SupportSoft, Inc		148
	610,306	*	Symantec Corp		9,258
	17,694	*	Synchronoss Technologies, Inc		315

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	112,101	*	Synopsys, Inc	$	2,777
	9,061		Syntel, Inc		403
	8,400	*	TA Indigo Holding Corp		142
	54,620	*	Take-Two Interactive Software, Inc		554
	30,543	*	Taleo Corp (Class A)		885
	5,765	*	TechTarget, Inc		30
	29,873	*	TeleCommunication Systems, Inc (Class A)		117
	6,471	*	TeleNav, Inc		34
	26,717	*	TeleTech Holdings, Inc		396
	126,052	*	Teradata Corp		4,861
	40,863	*	Terremark Worldwide, Inc		423
	48,928	*	THQ, Inc		197
	128,754	*	TIBCO Software, Inc		2,284
	13,125	*	Tier Technologies, Inc		73
	92,801	*	TiVo, Inc		841
	19,243	*	TNS, Inc		326
	127,282		Total System Services, Inc		1,940
	4,369	*	Travelzoo, Inc		113
	27,050	*	Tyler Technologies, Inc		545
	18,282	*	Ultimate Software Group, Inc		706
	12,799	*	Unica Corp		269
	32,818	*	Unisys Corp		916
	61,183		United Online, Inc		350
	63,761	*	Valueclick, Inc		834
	19,828	*	Vasco Data Security International		129
	64,752	*	VeriFone Holdings, Inc		2,012
	138,500	*	VeriSign, Inc		4,396
	24,719		VirnetX Holding Corp		363
	5,940	*	Virtusa Corp		58
	356,455		Visa, Inc (Class A)		26,469
	33,510	*	VistaPrint Ltd		1,295
	56,475	*	VMware, Inc (Class A)		4,797
	11,624	*	Vocus, Inc		215
	60,808	*	Wave Systems Corp		136
	45,304	*	WebMD Health Corp (Class A)		2,259
	33,540	*	Websense, Inc		595
	514,222		Western Union Co		9,086
	31,100	*	Wright Express Corp		1,111
	1,059,859	*	Yahoo!, Inc		15,018
	47,197	*	Zix Corp		134
			TOTAL SOFTWARE & SERVICES		858,935
TECHNOLOGY HARDWARE & EQUIPMENT - 7.1%
	33,935	*	Acme Packet, Inc		1,287
	76,254	*	ADC Telecommunications, Inc		966
	45,706		Adtran, Inc		1,613
	265,746	*	Agilent Technologies, Inc		8,868
	18,766	*	Agilysys, Inc		122
	131,851		Amphenol Corp (Class A)		6,458
	14,600	*	Anaren, Inc		245
	21,570	*	Anixter International, Inc		1,165
	693,775	*	Apple, Inc		196,859

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	94,272	*	Arris Group, Inc	$	921
	92,479	*	Arrow Electronics, Inc		2,472
	55,893	*	Aruba Networks, Inc		1,193
	24,879	*	Avid Technology, Inc		326
	115,335	*	Avnet, Inc		3,115
	34,410		AVX Corp		476
	7,316		Bel Fuse, Inc (Class B)		152
	49,204	*	Benchmark Electronics, Inc		807
	24,403	*	BigBand Networks, Inc		69
	13,787		Black Box Corp		442
	32,159	*	Blue Coat Systems, Inc		774
	38,012	*	Bookham, Inc		609
	53,964	*	Brightpoint, Inc		377
	346,401	*	Brocade Communications Systems, Inc		2,023
	6,077	*	Calix Networks, Inc		87
	30,668	*	Checkpoint Systems, Inc		624
	70,799	*	Ciena Corp		1,102
	4,359,731	*	Cisco Systems, Inc		95,479
	36,167	*	Cogent, Inc		385
	32,766		Cognex Corp		879
	19,403	*	Coherent, Inc		776
	72,244	*	CommScope, Inc		1,715
	15,742	*	Compellent Technologies, Inc		286
	22,382	*	Comtech Telecommunications Corp		612
	15,782	*	Comverge, Inc		124
	1,190,563		Corning, Inc		21,762
	5,037	*	CPI International, Inc		71
	22,453	*	Cray, Inc		148
	23,637		CTS Corp		227
	22,322		Daktronics, Inc		219
	10,171		DDi Corp		94
	1,296,612	*	Dell, Inc		16,804
	20,194	*	DG FastChannel, Inc		439
	50,953		Diebold, Inc		1,584
	18,652	*	Digi International, Inc		177
	41,327	*	Dolby Laboratories, Inc (Class A)		2,348
	15,044	*	DTS, Inc		574
	24,998	*	Echelon Corp		214
	28,785	*	EchoStar Corp (Class A)		549
	11,677		Electro Rent Corp		155
	23,062	*	Electro Scientific Industries, Inc		256
	39,428	*	Electronics for Imaging, Inc		478
	1,569,765	*	EMC Corp		31,882
	10,542	*	EMS Technologies, Inc		196
	65,177	*	Emulex Corp		680
	89,895	*	Extreme Networks, Inc		280
	61,065	*	F5 Networks, Inc		6,340
	7,400	*	Fabrinet		117
	12,851	*	FARO Technologies, Inc		280
	58,332	*	Finisar Corp		1,096
	118,407	*	Flir Systems, Inc		3,043
	19,206	*	Gerber Scientific, Inc		119

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,375	*	Globecomm Systems, Inc	$	120
	68,074	*	Harmonic, Inc		468
	100,176		Harris Corp		4,437
	42,057	*	Harris Stratex Networks, Inc (Class A)		172
	1,790,146		Hewlett-Packard Co		75,311
	6,874	*	Hughes Communications, Inc		187
	18,310	*	Hutchinson Technology, Inc		64
	34,885	*	Hypercom Corp		227
	10,189	*	ICx Technologies, Inc		77
	21,588	*	Imation Corp		201
	18,659	*	Immersion Corp		110
	67,383	*	Infinera Corp		786
	124,656	*	Ingram Micro, Inc (Class A)		2,102
	34,716	*	Insight Enterprises, Inc		543
	34,659	*	InterDigital, Inc		1,026
	38,292	*	Intermec, Inc		469
	14,156	*	Intevac, Inc		142
	17,746	*	IPG Photonics Corp		428
	19,132	*	Isilon Systems, Inc		426
	31,091	*	Itron, Inc		1,904
	30,992	*	Ixia		384
	138,825		Jabil Circuit, Inc		2,000
	166,385	*	JDS Uniphase Corp		2,062
	402,421	*	Juniper Networks, Inc		12,214
	8,891		Keithley Instruments, Inc		191
	10,929	*	KVH Industries, Inc		164
	63,078	*	L-1 Identity Solutions, Inc		740
	60,595	*	Lexmark International, Inc (Class A)		2,704
	17,104	*	Littelfuse, Inc		747
	8,072	*	Loral Space & Communications, Inc		421
	17,242	*	Maxwell Technologies, Inc		252
	9,778	*	Measurement Specialties, Inc		181
	18,409	*	Mercury Computer Systems, Inc		221
	4,201	*	Meru Networks, Inc		72
	28,385		Methode Electronics, Inc		258
	60,310	*	Microvision, Inc		132
	102,620		Molex, Inc		2,148
	1,780,286	*	Motorola, Inc		15,187
	13,932		MTS Systems Corp		432
	9,079	*	Multi-Fineline Electronix, Inc		200
	43,965		National Instruments Corp		1,436
	122,276	*	NCR Corp		1,667
	263,399	*	NetApp, Inc		13,115
	36,296	*	Netezza Corp		978
	28,803	*	Netgear, Inc		778
	29,221	*	Network Engines, Inc		43
	22,651	*	Network Equipment Technologies, Inc		78
	27,910	*	Newport Corp		316
	26,247	*	Novatel Wireless, Inc		207
	10,070	*	Occam Networks, Inc		79
	15,398	*	Oplink Communications, Inc		305
	13,224	*	OpNext, Inc		21

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,891	*	OSI Systems, Inc	$	396
	18,452		Park Electrochemical Corp		486
	6,868	*	PC Connection, Inc		47
	14,951	*	PC-Tel, Inc		92
	37,039		Plantronics, Inc		1,251
	31,345	*	Plexus Corp		920
	64,770	*	Polycom, Inc		1,767
	53,353	*	Power-One, Inc		485
	96,435	*	Powerwave Technologies, Inc		176
	22,048	*	Presstek, Inc		48
	86,041	*	QLogic Corp		1,518
	1,252,728		Qualcomm, Inc		56,524
	175,155	*	Quantum Corp		371
	25,143	*	Rackable Systems, Inc		195
	15,185	*	Radisys Corp		143
	11,626		Richardson Electronics Ltd		122
	7,282	*	Rimage Corp		120
	47,871	*	Riverbed Technology, Inc		2,182
	26,164	*	Rofin-Sinar Technologies, Inc		664
	12,342	*	Rogers Corp		389
	175,508	*	SanDisk Corp		6,432
	61,546	*	Sanmina-SCI Corp		743
	22,159	*	Scansource, Inc		615
	21,571	*	Seachange International, Inc		160
	369,941	*	Seagate Technology, Inc		4,358
	31,292	*	ShoreTel, Inc		155
	35,494	*	Smart Modular Technologies WWH, Inc		214
	165,491	*	Sonus Networks, Inc		584
	9,719	*	Spectrum Control, Inc		143
	31,304	*	STEC, Inc		390
	18,249	*	Stratasys, Inc		506
	16,272	*	Super Micro Computer, Inc		169
	14,861		Sycamore Networks, Inc		482
	35,188	*	Symmetricom, Inc		201
	26,694	*	Synaptics, Inc		751
	16,588	*	SYNNEX Corp		467
	38,960	*	Tech Data Corp		1,570
	38,313		Technitrol, Inc		169
	50,795	*	Tekelec		658
	291,644		Tellabs, Inc		2,173
	3,901		Tessco Technologies, Inc		59
	92,008	*	Trimble Navigation Ltd		3,224
	61,385	*	TTM Technologies, Inc		601
	22,074	*	Universal Display Corp		519
	87,200	*	Utstarcom, Inc		189
	24,217	*	Viasat, Inc		996
	3,408	*	Viasystems Group, Inc		52
	133,120	*	Vishay Intertechnology, Inc		1,289
	9,508	*	Vishay Precision Group, Inc		148
	175,363	*	Western Digital Corp		4,979
	1,054,812		Xerox Corp		10,917
	25,096	*	X-Rite, Inc		95

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,047	*	Xyratex Ltd	$	342
	44,665	*	Zebra Technologies Corp (Class A)		1,503
	12,959	*	Zygo Corp		127
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		686,349
TELECOMMUNICATION SERVICES - 2.9%
	16,682	*	AboveNet, Inc		869
	39,332		Alaska Communications Systems Group, Inc		399
	307,504	*	American Tower Corp (Class A)		15,763
	4,510,739		AT&T, Inc		129,008
	7,918		Atlantic Tele-Network, Inc		390
	20,132	*	Cbeyond Communications, Inc		258
	229,408		CenturyTel, Inc		9,052
	168,115	*	Cincinnati Bell, Inc		449
	115,773	*	Clearwire Corp (Class A)		937
	35,274	*	Cogent Communications Group, Inc		334
	20,626		Consolidated Communications Holdings, Inc		385
	221,881	*	Crown Castle International Corp		9,796
	36,464	*	FiberTower Corp		155
	750,690		Frontier Communications Corp		6,133
	38,028	*	General Communication, Inc (Class A)		379
	23,031	*	Global Crossing Ltd		296
	55,768	*	Globalstar, Inc		97
	73,874	*	ICO Global Communications Holdings Ltd (Class A)		121
	10,513	*	IDT Corp (Class B)		187
	26,067	*	Iridium Communications, Inc		223
	46,753	*	Leap Wireless International, Inc		577
	1,248,110	*	Level 3 Communications, Inc		1,170
	193,503	*	MetroPCS Communications, Inc		2,024
	25,073	*	Neutral Tandem, Inc		300
	126,673	*	NII Holdings, Inc (Class B)		5,206
	23,518		NTELOS Holdings Corp		398
	89,041	*	PAETEC Holding Corp		366
	46,371	*	Premiere Global Services, Inc		328
	1,312,941		Qwest Communications International, Inc		8,232
	89,246	*	SBA Communications Corp (Class A)		3,597
	18,151		Shenandoah Telecom Co		330
	2,252,681	*	Sprint Nextel Corp		10,430
	53,811	*	Syniverse Holdings, Inc		1,220
	65,013		Telephone & Data Systems, Inc		2,132
	114,426	*	tw telecom inc (Class A)		2,125
	10,229	*	US Cellular Corp		470
	18,421		USA Mobility, Inc		295
	2,157,865		Verizon Communications, Inc		70,325
	79,353	*	Vonage Holdings Corp		202
	372,689		Windstream Corp		4,580
			TOTAL TELECOMMUNICATION SERVICES		289,538
TRANSPORTATION - 2.0%
	28,455	*	Air Transport Services Group, Inc		173
	97,497	*	Airtran Holdings, Inc		717
	27,508	*	Alaska Air Group, Inc		1,404

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	30,756		Alexander & Baldwin, Inc	$	1,072
	9,924		Allegiant Travel Co		420
	6,973	*	Amerco, Inc		554
	8,786	*	American Commercial Lines, Inc		245
	258,366	*	AMR Corp		1,620
	19,331		Arkansas Best Corp		468
	19,165	*	Atlas Air Worldwide Holdings, Inc		964
	79,295	*	Avis Budget Group, Inc		924
	12,726		Baltic Trading Ltd		140
	16,346	*	Celadon Group, Inc		226
	126,411		CH Robinson Worldwide, Inc		8,839
	106,996	*	Continental Airlines, Inc (Class B)		2,658
	40,201		Con-way, Inc		1,246
	23,678		Copa Holdings S.A. (Class A)		1,276
	298,100		CSX Corp		16,490
	600,350	*	Delta Air Lines, Inc		6,987
	22,195	*	Dollar Thrifty Automotive Group, Inc		1,113
	8,003	*	Dynamex, Inc		122
	51,764	*	Eagle Bulk Shipping, Inc		270
	26,769	*	Excel Maritime Carriers Ltd		150
	164,248		Expeditors International Washington, Inc		7,593
	239,917		FedEx Corp		20,513
	22,919		Forward Air Corp		596
	20,776	*	Genco Shipping & Trading Ltd		331
	27,636	*	Genesee & Wyoming, Inc (Class A)		1,199
	40,654	*	Hawaiian Holdings, Inc		244
	33,265		Heartland Express, Inc		495
	147,470	*	Hertz Global Holdings, Inc		1,562
	23,837		Horizon Lines, Inc (Class A)		100
	28,305	*	Hub Group, Inc (Class A)		828
	4,290		International Shipholding Corp		121
	70,799		J.B. Hunt Transport Services, Inc		2,457
	181,414	*	JetBlue Airways Corp		1,214
	76,927	*	Kansas City Southern Industries, Inc		2,878
	41,752	*	Kirby Corp		1,673
	43,324		Knight Transportation, Inc		837
	38,624		Landstar System, Inc		1,492
	10,239		Marten Transport Ltd		237
	281,890		Norfolk Southern Corp		16,774
	31,924	*	Old Dominion Freight Line		812
	31,042	*	Pacer International, Inc		187
	3,632	*	PAM Transportation Services, Inc		46
	6,136	*	Park-Ohio Holdings Corp		82
	1,137	*	Patriot Transportation Holding, Inc		80
	6,619	*	Pinnacle Airlines		36
	17,000	*	RailAmerica, Inc		164
	27,002	*	Republic Airways Holdings, Inc		224
	8,012	*	Roadrunner Transportation Services Holdings, Inc		87
	40,976		Ryder System, Inc		1,753
	9,635	*	Saia, Inc		144
	45,222		Skywest, Inc		631
	574,264		Southwest Airlines Co		7,505

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	125,620	*	UAL Corp	$	2,968
	18,066	*	Ultrapetrol Bahamas Ltd		116
	386,368		Union Pacific Corp		31,604
	545,382		United Parcel Service, Inc (Class B)		36,372
	3,884		Universal Truckload Services, Inc		61
	116,271	*	US Airways Group, Inc		1,076
	5,744	*	USA Truck, Inc		86
	81,226		UTI Worldwide, Inc		1,306
	33,067		Werner Enterprises, Inc		678
			TOTAL TRANSPORTATION		195,240
UTILITIES - 3.7%
	516,443	*	AES Corp		5,861
	57,820		AGL Resources, Inc		2,218
	129,395		Allegheny Energy, Inc		3,173
	23,857		Allete, Inc		869
	85,307		Alliant Energy Corp		3,101
	180,616		Ameren Corp		5,129
	15,457	*	American DG Energy, Inc		46
	366,757		American Electric Power Co, Inc		13,288
	16,487		American States Water Co		590
	126,851		American Water Works Co, Inc		2,952
	104,679		Aqua America, Inc		2,135
	4,909		Artesian Resources Corp		94
	71,863		Atmos Energy Corp		2,102
	43,026		Avista Corp		898
	29,085		Black Hills Corp		907
	8,402	*	Cadiz, Inc		86
	17,825		California Water Service Group		659
	267,409	*	Calpine Corp		3,329
	321,488		Centerpoint Energy, Inc		5,054
	10,819		Central Vermont Public Service Corp		218
	13,300		CH Energy Group, Inc		587
	8,826		Chesapeake Utilities Corp		320
	44,984		Cleco Corp		1,332
	171,136		CMS Energy Corp		3,084
	6,221		Connecticut Water Service, Inc		149
	213,883		Consolidated Edison, Inc		10,313
	10,306		Consolidated Water Co, Inc		98
	142,412		Constellation Energy Group, Inc		4,591
	454,574		Dominion Resources, Inc		19,848
	92,457		DPL, Inc		2,416
	129,557		DTE Energy Co		5,951
	1,000,917		Duke Energy Corp		17,726
	75,150	*	Dynegy, Inc (Class A)		366
	248,706		Edison International		8,553
	31,019	*	El Paso Electric Co		738
	30,976		Empire District Electric Co		624
	55,520		Energen Corp		2,538
	143,701		Entergy Corp		10,997
	504,245		Exelon Corp		21,472
	232,826		FirstEnergy Corp		8,973

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	104,313		Great Plains Energy, Inc	$	1,972
	73,366		Hawaiian Electric Industries, Inc		1,654
	37,849		Idacorp, Inc		1,360
	57,780		Integrys Energy Group, Inc		3,008
	37,681		ITC Holdings Corp		2,346
	18,300		Laclede Group, Inc		630
	140,890		MDU Resources Group, Inc		2,811
	18,500		MGE Energy, Inc		732
	9,765		Middlesex Water Co		164
	110,337	*	Mirant Corp		1,099
	54,213		National Fuel Gas Co		2,809
	31,814		New Jersey Resources Corp		1,248
	315,982		NextEra Energy, Inc		17,186
	35,013		Nicor, Inc		1,604
	208,593		NiSource, Inc		3,630
	134,366		Northeast Utilities		3,973
	21,251		Northwest Natural Gas Co		1,008
	27,832		NorthWestern Corp		793
	196,806	*	NRG Energy, Inc		4,098
	80,686		NSTAR		3,175
	176,210		NV Energy, Inc		2,317
	76,050		OGE Energy Corp		3,032
	81,923		Oneok, Inc		3,690
	15,003		Ormat Technologies, Inc		438
	29,407		Otter Tail Corp		600
	168,153		Pepco Holdings, Inc		3,128
	283,342		PG&E Corp		12,869
	55,927		Piedmont Natural Gas Co, Inc		1,622
	83,675		Pinnacle West Capital Corp		3,453
	64,221		PNM Resources, Inc		731
	58,258		Portland General Electric Co		1,181
	368,560		PPL Corp		10,036
	219,368		Progress Energy, Inc		9,744
	385,137		Public Service Enterprise Group, Inc		12,740
	135,152		Questar Corp		2,369
	269,219	*	Reliant Energy, Inc		956
	84,777		SCANA Corp		3,418
	189,219		Sempra Energy		10,180
	10,436		SJW Corp		257
	23,097		South Jersey Industries, Inc		1,143
	629,494		Southern Co		23,443
	34,400		Southwest Gas Corp		1,155
	163,004		TECO Energy, Inc		2,823
	85,402		UGI Corp		2,443
	38,476		UIL Holdings Corp		1,083
	27,775		Unisource Energy Corp		929
	11,594		Unitil Corp		254
	62,527		Vectren Corp		1,618
	83,296		Westar Energy, Inc		2,018
	36,542		WGL Holdings, Inc		1,381
	88,628		Wisconsin Energy Corp		5,123
	350,598		Xcel Energy, Inc		8,053

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES		COMPANY	VALUE (000)
	9,006	York Water Co	$	144
		TOTAL UTILITIES		363,056
		TOTAL COMMON STOCKS		9,801,958
		(Cost $8,802,568)
RIGHTS / WARRANTS - 0.0%
CONSUMER SERVICES - 0.0%
	2,604	Krispy Kreme Doughnuts, Inc - CW12		0	^
		TOTAL CONSUMER SERVICES		0	^
		TOTAL RIGHTS / WARRANTS		0	^
		(Cost $0)

PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 0.1%
GOVERNMENT AGENCY DEBT - 0.1%
$	5,000,000	Federal Home Loan Bank (FHLB), 10/01/10		5,000
		TOTAL GOVERNMENT AGENCY DEBT		5,000
		TOTAL SHORT-TERM INVESTMENTS		5,000
		(Cost $5,000)
		TOTAL INVESTMENTS - 99.9%		9,806,958
		(Cost $8,807,568)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		12,369
		NET ASSETS - 100.0%	$	9,819,327

	Abbreviation(s):
ADR	American Depositary Receipt

*	Non-income producing.
^	Amount represents less than $1,000.
b	In bankruptcy
	Cost amounts are in thousands.

277

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND
BOND MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2010

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.1%
MATERIALS - 0.1%
$	4,699,665	i	JohnsonDiversey, Inc	5.500	%	11/24/15	$	4,708
	4,962,312	i	Nalco Co	6.500		05/13/16		4,948
	4,937,695	i	Reynolds Consumer Products Term Loan	6.250		11/16/15		4,961
			TOTAL MATERIALS					14,617
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	2,107,995	i	Mylan, Inc	3.750		10/02/14		2,102
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					2,102
			TOTAL BANK LOAN OBLIGATIONS					16,719
			(Cost $16,743)
BONDS - 97.9%
CORPORATE BONDS - 30.0%
AUTOMOBILES & COMPONENTS - 0.0%
	4,500,000	g	Hyundai Motor Manufacturer	4.500		04/15/15		4,647
			TOTAL AUTOMOBILES & COMPONENTS					4,647
BANKS - 5.7%
	5,480,000	g	Akbank TAS	5.130		07/22/15		5,459
	4,500,000	g	Alfa Bond Issuance plc for OJSC Alfa Bank	7.880		09/25/17		4,523
	4,500,000	g	Banco Bradesco S.A.	5.900		01/16/21		4,568
	3,080,000	g	Banco de Credito del Peru	5.380		09/16/20		3,111
	2,540,000	g	Banco del Estado de Chile	4.130		10/07/20		2,521
	4,450,000	g	Banco do Brasil S.A.	6.000		01/22/20		4,962
	4,500,000	g	Banco do Brasil S.A.	5.380		01/15/21		4,520
	4,500,000	g	Banco Santander Brasil	4.500		04/06/15		4,624
	4,400,000	g,i	Banco Santander Chile	1.770		04/20/12		4,398
	2,550,000	g	Banco Santander Chile	3.750		09/22/15		2,585
	3,270,000		BanColombia S.A.	6.130		07/26/20		3,393
	28,000,000		Bank of America Corp	2.380		06/22/12		28,888
	4,850,000		Bank of America Corp	7.380		05/15/14		5,574
	19,800,000		Bank of America Corp	3.700		09/01/15		20,004
	18,550,000		Bank of America Corp	5.300		03/15/17		19,092
	8,525,000		Bank of America Corp	6.000		09/01/17		9,230
	5,725,000		Bank of America Corp	5.750		12/01/17		6,121
	4,500,000	g	Bank of China Hong Kong Ltd	5.550		02/11/20		4,753
	5,700,000		Bank of New York Mellon Corp	4.300		05/15/14		6,258
	4,125,000		Bank of New York Mellon Corp	5.450		05/15/19		4,815
	4,250,000		Bank One Corp	5.250		01/30/13		4,580
	1,250,000	i	BB&T Capital Trust IV	6.820		06/12/57		1,250

278

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	6,000,000		BB&T Corp	3.850	%	07/27/27	$	6,288
	4,760,000	g	BBVA Bancomer S.A.	7.250		04/22/20		5,113
	4,000,000		CitiBank NA	1.380		08/10/11		4,037
	3,250,000		Citigroup, Inc	5.100		09/29/11		3,377
	45,500,000		Citigroup, Inc	2.130		04/30/12		46,652
	4,825,000		Citigroup, Inc	6.000		12/13/13		5,290
	6,655,000		Citigroup, Inc	5.000		09/15/14		6,912
	5,800,000		Citigroup, Inc	5.500		10/15/14		6,293
	4,525,000		Citigroup, Inc	6.130		05/15/18		4,937
	12,875,000		Citigroup, Inc	5.380		08/09/20		13,321
	7,575,000		Citigroup, Inc	6.880		03/05/38		8,461
	3,825,000		Citigroup, Inc	8.130		07/15/39		4,832
	45,000,000	g	Depfa ACS Bank	5.130		03/16/37		33,237
	3,500,000		Deutsche Bank AG.	3.880		08/18/14		3,743
	5,980,000		Discover Bank	7.000		04/15/20		6,505
	10,290,000		Eksportfinans ASA	2.000		09/15/15		10,316
	3,500,000		Golden West Financial Corp	4.750		10/01/12		3,721
	4,500,000	g	Hana Bank	4.500		10/30/15		4,704
	4,600,000	g	HSBC Bank plc	3.500		06/28/15		4,825
	7,350,000	g	HSBC Bank plc	4.130		08/12/20		7,470
	7,000,000		HSBC Bank USA NA	4.630		04/01/14		7,501
	3,000,000	g,i	HSBC Capital Funding LP	4.610		12/30/49		2,862
	2,100,000		HSBC Holdings plc	6.500		09/15/37		2,355
	4,350,000	g	ICICI Bank Ltd	5.500		03/25/15		4,590
	2,270,000	g	Itau Unibanco Banco Multiplo S.A.	6.200		04/15/20		2,365
	4,500,000	g	ITAU UNIBANCO HLDG S.A.	5.750		01/22/21		4,524
	4,000,000		JP Morgan Chase Capital XXV	6.800		10/01/37		4,066
	50,000,000		JPMorgan Chase & Co	3.130		12/01/11		51,544
	4,500,000		JPMorgan Chase & Co	4.500		01/15/12		4,705
	7,000,000		JPMorgan Chase & Co	3.400		06/24/15		7,267
	4,770,000		JPMorgan Chase & Co	6.000		01/15/18		5,447
	24,500,000		JPMorgan Chase & Co	4.400		07/22/20		25,090
	3,025,000		JPMorgan Chase & Co	6.400		05/15/38		3,619
	10,000,000		KeyBank NA	3.200		06/15/12		10,453
	4,250,000	i	Manufacturers & Traders Trust Co	5.630		12/01/21		4,115
	2,475,000		Noble Holding International Ltd	3.450		08/01/15		2,579
	7,550,000		Noble Holding International Ltd	4.900		08/01/20		8,118
	12,750,000		Northern Trust Corp	4.630		05/01/14		14,138
	8,000,000		PNC Funding Corp	5.130		02/08/20		8,661
	10,000,000		Regions Bank	3.250		12/09/11		10,325
	3,050,000		Regions Financial Corp	4.880		04/26/13		3,087
	3,050,000		Regions Financial Corp	5.750		06/15/15		3,103
	4,500,000	g	Shinhan Bank	4.380		09/15/15		4,674
	6,500,000		Sovereign Bancorp, Inc	2.750		01/17/12		6,693
	4,000,000		Sovereign Bancorp, Inc	2.500		06/15/12		4,133
	3,250,000	g	State Bank of India	4.500		07/27/15		3,414
	39,000,000		State Street Corp	2.150		04/30/12		40,009
	6,350,000		State Street Corp	4.300		05/30/14		6,981
	2,355,000	g	Sumitomo Mitsui Banking Corp	3.150		07/22/15		2,472
	2,000,000		Union Bank of California NA	5.950		05/11/16		2,199
	15,000,000		US Bancorp	2.250		03/13/12		15,375
	5,000,000		US Bancorp	4.950		10/30/14		5,532
	9,500,000		US Central Federal Credit Union	1.900		10/19/12		9,744

279

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,125,000		Wachovia Bank NA	5.300	%	10/15/11	$	5,366
	8,275,000		Wachovia Bank NA	4.800		11/01/14		8,936
	2,050,000		Wachovia Bank NA	5.850		02/01/37		2,107
	18,400,000		Wells Fargo & Co	2.130		06/15/12		18,910
	3,500,000		Wells Fargo & Co	5.250		10/23/12		3,788
	5,500,000		Wells Fargo & Co	4.950		10/16/13		5,955
	10,650,000		Wells Fargo & Co	4.750		02/09/15		11,406
	6,525,000		Wells Fargo & Co	3.630		04/15/15		6,919
	5,000,000		Western Corporate Federal Credit Union	1.750		11/02/12		5,113
	5,700,000		Westpac Banking Corp	3.000		08/04/15		5,822
	3,000,000		Zions Bancorporation	7.750		09/23/14		3,179
			TOTAL BANKS					714,504
CAPITAL GOODS - 0.6%
	4,500,000	g	Adaro Indonesia PT	7.630		10/22/19		4,905
	1,500,000		Black & Decker Corp	8.950		04/15/14		1,849
	1,875,000		CRH America, Inc	6.950		03/15/12		2,002
	13,167,000		DIRECTV Holdings LLC	3.550		03/15/15		13,668
	4,000,000		Emerson Electric Co	4.500		05/01/13		4,336
	2,400,000	g	Gol Finance	9.250		07/20/20		2,478
	3,515,000		Goodrich Corp	6.130		03/01/19		4,204
	1,500,000		Goodrich Corp	4.880		03/01/20		1,674
	2,125,000		ITT Corp	4.900		05/01/14		2,339
	2,945,000		John Deere Capital Corp	2.950		03/09/15		3,111
	1,500,000		Kennametal, Inc	7.200		06/15/12		1,559
	2,500,000		Lockheed Martin Corp	4.120		03/14/13		2,680
	4,245,000	g	Myriad International Holding BV	6.380		07/28/17		4,395
	3,050,000		Tyco International Finance S.A.	6.000		11/15/13		3,457
	2,190,000		Tyco International Finance S.A.	4.130		10/15/14		2,384
	4,970,000		United Technologies Corp	5.400		05/01/35		5,421
	1,075,000		United Technologies Corp	6.050		06/01/36		1,273
	3,525,000		United Technologies Corp	5.700		04/15/40		4,038
	9,400,000		Valmont Industries, Inc	6.630		04/20/20		9,684
			TOTAL CAPITAL GOODS					75,457
COMMERCIAL & PROFESSIONAL SERVICES - 0.6%
	3,500,000		Corrections Corp of America	7.750		06/01/17		3,763
	3,250,000		Daimler Finance North America LLC	5.880		03/15/11		3,324
	7,400,000		Daimler Finance North America LLC	5.750		09/08/11		7,727
	536,000		Iron Mountain, Inc	7.750		01/15/15		541
	840,000		Iron Mountain, Inc	8.380		08/15/21		908
	3,220,000	g	National Agricultural Cooperative Federation	4.250		01/28/16		3,314
	1,274,000		News America, Inc	7.250		05/18/18		1,581
	4,250,000		News America, Inc	7.630		11/30/28		5,091
	3,800,000		News America, Inc	6.200		12/15/34		4,105
	3,575,000		News America, Inc	6.650		11/15/37		4,112
	3,800,000		News America, Inc	6.900		08/15/39		4,478
	4,415,000		Republic Services, Inc	5.000		03/01/20		4,806
	4,135,000		Republic Services, Inc	5.250		11/15/21		4,569
	5,810,000		Republic Services, Inc	6.200		03/01/40		6,567
	7,680,000		Svensk Exportkredit AB	5.130		03/01/17		8,912
	9,040,000		Waste Management, Inc	6.130		11/30/39		10,010
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					73,808

280

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
CONSUMER DURABLES & APPAREL - 0.0%
$	2,000,000		Hanesbrands, Inc	8.000	%	12/15/16	$	2,113
	2,000,000		Phillips-Van Heusen Corp	7.380		05/15/20		2,108
	5,600,000		Whirlpool Corp	8.000		05/01/12		6,102
			TOTAL CONSUMER DURABLES & APPAREL					10,323
CONSUMER SERVICES - 0.1%
	2,500,000		Dun & Bradstreet Corp	5.500		03/15/11		2,554
	2,000,000	g	Knowledge Learning Corp, Inc	7.750		02/01/15		1,980
	5,340,000		McDonald’s Corp	3.500		07/15/20		5,487
	2,000,000		Penn National Gaming, Inc	8.750		08/15/19		2,125
	2,000,000		Speedway Motorsports, Inc	6.750		06/01/13		2,020
	6,375,000		Walt Disney Co	4.500		12/15/13		7,065
			TOTAL CONSUMER SERVICES					21,231
DIVERSIFIED FINANCIALS - 7.4%
	2,550,000		American Express Co	7.000		03/19/18		3,071
	8,875,000		American Express Co	8.130		05/20/19		11,461
	7,500,000		American General Finance Corp	6.900		12/15/17		6,263
	3,500,000	g	American Honda Finance Corp	5.130		12/15/10		3,531
	3,550,000		Ameriprise Financial, Inc	5.300		03/15/20		3,922
	4,500,000	g	Banco Mercantil del Norte S.A.	4.380		07/19/15		4,496
	16,500,000	g	Bank of Montreal	2.850		06/09/15		17,367
	3,750,000		Barclays Bank plc	5.200		07/10/14		4,157
	3,900,000	g	Barclays Bank plc	6.050		12/04/17		4,229
	7,250,000		BlackRock, Inc	3.500		12/10/14		7,693
	7,500,000		BlackRock, Inc	5.000		12/10/19		8,268
	3,200,000	g	BM&FBOVESPA S.A.	5.500		07/16/20		3,407
	5,000,000		Brookfield Asset Management, Inc	7.130		06/15/12		5,376
	2,500,000	g	Canadian Imperial Bank of Commerce	2.000		02/04/13		2,564
	6,000,000	g	Canadian Imperial Bank of Commerce	2.600		07/02/15		6,243
	3,750,000		Capital One Bank USA NA	8.800		07/15/19		4,793
	5,000,000		Capital One Capital V	8.880		05/15/40		5,250
	5,150,000		Capital One Financial Corp	5.700		09/15/11		5,367
	4,500,000	g	CCL Finance Ltd	9.500		08/15/14		5,276
	9,500,000	g	CDP Financial, Inc	3.000		11/25/14		9,865
	34,000,000		Citigroup Funding, Inc	2.000		03/30/12		34,712
	40,000,000		Citigroup Funding, Inc	1.880		10/22/12		41,021
	12,000,000		Citigroup Funding, Inc	2.250		12/10/12		12,413
	3,700,000		Countrywide Financial Corp	6.250		05/15/16		3,982
	4,500,000		Countrywide Home Loans, Inc	4.000		03/22/11		4,571
	6,850,000		Credit Suisse	5.000		05/15/13		7,463
	8,250,000		Credit Suisse	5.500		05/01/14		9,241
	8,000,000		Credit Suisse	5.300		08/13/19		8,863
	2,825,000		Credit Suisse	4.380		08/05/20		2,885
	3,000,000		Credit Suisse USA, Inc	4.880		01/15/15		3,312
	1,250,000		Eaton Vance Corp	6.500		10/02/17		1,480
	4,500,000		Fibria Overseas Finance Ltd	7.500		05/04/20		4,776
	2,000,000		Ford Motor Credit Co LLC	7.500		08/01/12		2,123
	5,760,000		Franklin Resources, Inc	3.130		05/20/15		6,070
	25,000,000		General Electric Capital Corp	3.000		12/09/11		25,759
	61,500,000		General Electric Capital Corp	2.250		03/12/12		63,069

281

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	37,400,000		General Electric Capital Corp	2.200	%	06/08/12	$	38,449
	15,000,000		General Electric Capital Corp	2.130		12/21/12		15,478
	7,000,000		General Electric Capital Corp	2.630		12/28/12		7,299
	2,100,000		General Electric Capital Corp	2.800		01/08/13		2,163
	21,200,000		General Electric Capital Corp	5.500		06/04/14		23,667
	7,450,000		General Electric Capital Corp	3.500		06/29/15		7,794
	6,500,000		General Electric Capital Corp	5.500		01/08/20		7,110
	20,300,000		General Electric Capital Corp	4.380		09/16/20		20,375
	5,000,000		General Electric Capital Corp	6.150		08/07/37		5,236
	375,000		General Electric Capital Corp	6.880		01/10/39		431
	54,875,000		GMAC, Inc	1.750		10/30/12		56,146
	61,800,000		GMAC, Inc	2.200		12/19/12		63,887
	4,900,000	i	Goldman Sachs Capital II	5.790		12/30/49		4,159
	3,825,000		Goldman Sachs Group, Inc	3.630		08/01/12		3,981
	3,250,000		Goldman Sachs Group, Inc	5.700		09/01/12		3,498
	7,300,000		Goldman Sachs Group, Inc	4.750		07/15/13		7,838
	8,250,000		Goldman Sachs Group, Inc	3.700		08/01/15		8,441
	9,037,000		Goldman Sachs Group, Inc	5.350		01/15/16		9,935
	4,000,000		Goldman Sachs Group, Inc	6.150		04/01/18		4,437
	4,975,000		Goldman Sachs Group, Inc	7.500		02/15/19		5,919
	13,725,000		Goldman Sachs Group, Inc	5.380		03/15/20		14,466
	3,000,000		Goldman Sachs Group, Inc	6.000		06/15/20		3,300
	1,150,000		Goldman Sachs Group, Inc	6.450		05/01/36		1,153
	3,100,000		Goldman Sachs Group, Inc	6.750		10/01/37		3,222
	10,000,000		HSBC Finance Corp	5.250		01/14/11		10,120
	5,750,000		HSBC Finance Corp	6.380		11/27/12		6,289
	4,000,000		HSBC Finance Corp	4.750		07/15/13		4,260
	5,000,000		HSBC Finance Corp	5.500		01/19/16		5,491
	1,440,000	g	Hyundai Capital America	3.750		04/06/16		1,434
	5,575,000		International Lease Finance Corp	5.750		06/15/11		5,603
	3,750,000	g	International Lease Finance Corp	6.500		09/01/14		4,022
	2,325,000	g	International Lease Finance Corp	8.630		09/15/15		2,488
	2,450,000	g	Kazakhstan Temir Zholy Finance BV	6.380		10/06/20		2,447
	4,150,000		Landwirtschaftliche Rentenbank	5.250		07/02/12		4,471
	5,000,000		Landwirtschaftliche Rentenbank	5.130		02/01/17		5,869
	3,150,000	n	Lehman Brothers Holdings Capital Trust V	5.860		12/30/49		0	^
	3,875,000	g	Lloyds TSB Bank plc	5.800		01/13/20		4,059
	4,000,000		MBNA Corp	6.130		03/01/13		4,331
	4,825,000		Merrill Lynch & Co, Inc	5.450		02/05/13		5,182
	4,675,000		Merrill Lynch & Co, Inc	6.400		08/28/17		5,116
	9,075,000		Merrill Lynch & Co, Inc	6.880		04/25/18		10,179
	30,000,000		Morgan Stanley	2.250		03/13/12		30,769
	14,775,000		Morgan Stanley	6.000		05/13/14		16,222
	3,925,000		Morgan Stanley	6.000		04/28/15		4,315
	9,350,000		Morgan Stanley	5.380		10/15/15		10,032
	9,125,000		Morgan Stanley	5.450		01/09/17		9,623
	4,775,000		Morgan Stanley	5.950		12/28/17		5,129
	3,850,000		Morgan Stanley	6.630		04/01/18		4,268
	4,975,000		Morgan Stanley	7.300		05/13/19		5,722
	3,250,000		Morgan Stanley	5.500		01/26/20		3,341
	708,000		NASDAQ OMX Group, Inc	2.500		08/15/13		698
	3,500,000		NASDAQ OMX Group, Inc	4.000		01/15/15		3,617
	2,625,000		NASDAQ OMX Group, Inc	5.550		01/15/20		2,790

282

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,415,000		National Rural Utilities Cooperative Finance Corp	2.610	%	09/16/12	$	3,531
	5,990,000		National Rural Utilities Cooperative Finance Corp	5.500		07/01/13		6,706
	3,800,000		National Rural Utilities Cooperative Finance Corp	10.380		11/01/18		5,442
	10,000,000		New York Community Bank	3.000		12/16/11		10,299
	1,500,000		Nomura Holdings, Inc	5.000		03/04/15		1,620
	4,500,000	g	Odebrecht Finance Ltd	7.000		04/21/20		4,815
	5,500,000	g	Principal Life Global Funding I	5.130		10/15/13		5,985
	4,500,000	g	PTTEP Australia International Finance Pty Ltd	4.150		07/19/15		4,629
	4,900,000	g,i	Rabobank Nederland NV	11.000		12/30/49		6,370
	9,000,000	g	Toronto-Dominion Bank	2.200		07/29/15		9,121
	6,675,000		UBS AG.	4.880		08/04/20		7,038
	1,925,000		USB Capital XIII Trust	6.630		12/15/39		1,969
	4,500,000	g	Waha Aerospace BV	3.930		07/28/20		4,624
			TOTAL DIVERSIFIED FINANCIALS					922,759
ENERGY - 3.2%
	2,000,000		AmeriGas Partners LP	7.130		05/20/16		2,085
	5,450,000		Anadarko Petroleum Corp	5.950		09/15/16		5,951
	2,400,000		Anadarko Petroleum Corp	6.380		09/15/17		2,645
	2,310,000		Anadarko Petroleum Corp	8.700		03/15/19		2,809
	2,275,000		Anadarko Petroleum Corp	6.200		03/15/40		2,218
	5,000,000		Apache Corp	5.100		09/01/40		5,030
	1,000,000		Arch Coal, Inc	8.750		08/01/16		1,103
	2,000,000		Ashland, Inc	9.130		06/01/17		2,290
	3,000,000		Atlas Energy Operating Co LLC	10.750		02/01/18		3,323
	5,900,000		Baker Hughes, Inc	6.500		11/15/13		6,834
	1,500,000		Baker Hughes, Inc	5.130		09/15/40		1,562
	3,500,000		BJ Services Co	5.750		06/01/11		3,618
	4,725,000		BP Capital Markets plc	3.130		03/10/12		4,818
	11,675,000		BP Capital Markets plc	3.880		03/10/15		12,146
	6,900,000		BP Capital Markets plc	3.130		10/01/15		6,936
	7,750,000		Burlington Resources Finance Co	7.200		08/15/31		9,766
	3,250,000		Chesapeake Energy Corp	6.500		08/15/17		3,372
	2,000,000		Chesapeake Energy Corp	6.880		11/15/20		2,120
	7,000,000		Chevron Corp	3.450		03/03/12		7,269
	2,000,000		Cloud Peak Energy Resources LLC	8.500		12/15/19		2,145
	9,725,000		ConocoPhillips	4.600		01/15/15		10,922
	7,600,000		ConocoPhillips	6.500		02/01/39		9,519
	4,316,850		Dolphin Energy Ltd	5.890		06/15/19		4,658
	500,000	g	Drummond Co, Inc	9.000		10/15/14		528
	4,500,000	g	Drummond Co, Inc	7.380		02/15/16		4,584
	4,500,000	g	Empresa Nacional del Petroleo	6.250		07/08/19		4,973
	2,000,000	g	Empresa Nacional del Petroleo	5.250		08/10/20		2,051
	3,250,000		Enbridge Energy Partners LP	5.200		03/15/20		3,536
	1,525,000		EnCana Corp	6.500		05/15/19		1,867
	1,525,000		EnCana Corp	6.630		08/15/37		1,791
	2,000,000		Encore Acquisition Co	9.500		05/01/16		2,233
	5,950,000		Enterprise Products Operating LLC	4.600		08/01/12		6,266
	4,000,000		Enterprise Products Operating LLC	5.600		10/15/14		4,516
	1,150,000		Enterprise Products Operating LLC	5.000		03/01/15		1,266
	2,800,000		Enterprise Products Operating LLC	6.300		09/15/17		3,230
	1,600,000		Enterprise Products Operating LLC	6.500		01/31/19		1,865
	7,650,000		Enterprise Products Operating LLC	6.130		10/15/39		8,234

283

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,325,000		EOG Resources, Inc	4.400	%	06/01/20	$	2,525
	4,000,000		Gaz Capital S.A.	6.210		11/22/16		4,260
	4,500,000		Gaz Capital S.A.	6.510		03/07/22		4,793
	3,600,000		Hess Corp	8.130		02/15/19		4,733
	8,815,000		Hess Corp	6.000		01/15/40		9,685
	4,625,000		Hess Corp	5.600		02/15/41		4,826
	3,250,000		Husky Energy, Inc	6.250		06/15/12		3,495
	2,975,000		Husky Energy, Inc	6.800		09/15/37		3,361
	2,000,000		Inergy LP	6.880		12/15/14		2,040
	2,000,000		Kaneb Pipe Line Operating Partnership LP	5.880		06/01/13		2,182
	2,225,000		Marathon Oil Corp	6.500		02/15/14		2,555
	5,192,000		Nexen, Inc	6.400		05/15/37		5,658
	5,200,000		Nexen, Inc	7.500		07/30/39		6,389
	720,000	g	Niska Gas Storage	8.880		03/15/14		770
	1,500,000		Peabody Energy Corp	7.380		11/01/16		1,635
	2,800,000		Pemex Project Funding Master Trust	5.750		03/01/18		3,069
	3,150,000		Pemex Project Funding Master Trust	6.630		06/15/35		3,441
	1,890,000		Pemex Project Funding Master Trust	6.630		06/15/38		2,035
	4,500,000		Petrobras International Finance Co	7.880		03/15/19		5,612
	4,450,000		Petrobras International Finance Co	6.880		01/20/40		5,094
	4,000,000		Petroleos Mexicanos	5.500		01/21/21		4,260
	2,500,000		Petroleos Mexicanos	6.000		03/05/20		2,763
	2,900,000		Petroleos Mexicanos	8.000		05/03/19		3,596
	3,960,000	g	Petroleum Co of Trinidad & Tobago Ltd	9.750		08/14/19		4,851
	4,500,000	g	Petronas Capital Ltd	5.250		08/12/19		4,952
	3,000,000		Plains All American Pipeline LP	5.630		12/15/13		3,281
	8,200,000		Plains All American Pipeline LP	5.750		01/15/20		9,055
	2,000,000		Range Resources Corp	7.500		05/15/16		2,090
	700,000		Range Resources Corp	7.250		05/01/18		735
	3,768,296		Ras Laffan Liquefied Natural Gas Co Ltd	5.300		09/30/20		4,074
	4,025,000	g	Rockies Express Pipeline LLC	6.250		07/15/13		4,373
	4,545,372		Rowan Cos, Inc	3.530		05/01/20		4,682
	9,166,580		Rowan Cos, Inc	3.160		07/15/21		9,350
	3,750,000		SEACOR Holdings, Inc	7.380		10/01/19		4,089
	6,250,000		Shell International Finance BV	3.100		06/28/15		6,580
	7,620,000		Shell International Finance BV	4.300		09/22/19		8,358
	1,925,000		Shell International Finance BV	6.380		12/15/38		2,441
	3,464,000		Southwestern Energy Co	7.500		02/01/18		3,914
	2,800,000		Statoil ASA	2.900		10/15/14		2,937
	2,175,000		TransCanada Pipelines Ltd	4.000		06/15/13		2,334
	3,400,000		TransCanada Pipelines Ltd	5.850		03/15/36		3,731
	2,750,000	i	TransCanada Pipelines Ltd	6.350		05/15/67		2,571
	2,000,000		Vale Overseas Ltd	6.250		01/23/17		2,289
	3,900,000		Vale Overseas Ltd	4.630		09/15/20		4,028
	2,760,000		Vale Overseas Ltd	6.880		11/21/36		3,153
	4,650,000		Vale Overseas Ltd	6.880		11/10/39		5,329
	3,375,000		Valero Energy Corp	4.500		02/01/15		3,607
	8,000,000		Valero Energy Corp	6.130		02/01/20		8,719
	4,075,000		Weatherford Bermuda Holdings Ltd	5.130		09/15/20		4,166
	3,895,000		Weatherford Bermuda Holdings Ltd	6.750		09/15/40		4,060
	5,000,000		XTO Energy, Inc	6.250		04/15/13		5,655
	4,400,000		XTO Energy, Inc	4.630		06/15/13		4,833
	3,225,000		XTO Energy, Inc	5.500		06/15/18		3,863
			TOTAL ENERGY					382,956

284

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
FOOD & STAPLES RETAILING - 0.4%
$	5,690,000		CVS Caremark Corp	3.250	%	05/18/15	$	5,943
	10,500,000		CVS Caremark Corp	5.750		06/01/17		12,050
	795,000		CVS Caremark Corp	6.600		03/15/19		965
	4,000,000		CVS Caremark Corp	4.750		05/18/20		4,351
	3,800,000		Delhaize Group S.A.	5.880		02/01/14		4,289
	3,800,000		Delhaize Group S.A.	6.500		06/15/17		4,531
	1,500,000		Ingles Markets, Inc	8.880		05/15/17		1,616
	1,500,000		Kroger Co	6.200		06/15/12		1,629
	1,205,000		Kroger Co	5.000		04/15/13		1,313
	1,600,000		Kroger Co	6.400		08/15/17		1,913
	775,000		Kroger Co	6.800		12/15/18		943
	5,000,000		New Albertsons, Inc	7.500		02/15/11		5,094
	1,600,000		Safeway, Inc	5.000		08/15/19		1,757
	3,950,000		Safeway, Inc	3.950		08/15/20		3,972
	1,750,000		Stater Brothers Holdings	8.130		06/15/12		1,752
	880,000		Stater Brothers Holdings	7.750		04/15/15		902
	640,000		SuperValu, Inc	8.000		05/01/16		645
			TOTAL FOOD & STAPLES RETAILING					53,665
FOOD, BEVERAGE & TOBACCO - 1.1%
	4,425,000		Anheuser-Busch InBev Worldwide, Inc	5.380		01/15/20		4,995
	7,175,000		Anheuser-Busch InBev Worldwide, Inc	5.000		04/15/20		7,906
	2,500,000		Anheuser-Busch InBev Worldwide, Inc	6.380		01/15/40		3,021
	4,300,000	g	BFF International Ltd	7.250		01/28/20		4,623
	6,400,000		Bottling Group LLC	6.950		03/15/14		7,587
	4,000,000		Coca-Cola Enterprises, Inc	4.250		03/01/15		4,431
	1,200,000		Coca-Cola Enterprises, Inc	4.500		08/15/19		1,342
	4,580,000	g	Corp Pesquera Inca Sac	9.000		02/10/17		4,740
	7,250,000		Dr Pepper Snapple Group, Inc	2.350		12/21/12		7,439
	3,775,000		Dr Pepper Snapple Group, Inc	6.120		05/01/13		4,226
	3,698,000		Dr Pepper Snapple Group, Inc	6.820		05/01/18		4,575
	3,875,000		Dr Pepper Snapple Group, Inc	7.450		05/01/38		5,222
	3,850,000		General Mills, Inc	5.250		08/15/13		4,297
	6,000,000		General Mills, Inc	5.650		02/15/19		7,027
	4,500,000	g	Grupo Bimbo SAB de C.V.	4.880		06/30/20		4,698
	2,530,000		Kraft Foods, Inc	6.130		02/01/18		2,983
	8,750,000		Kraft Foods, Inc	5.380		02/10/20		9,773
	7,650,000		Kraft Foods, Inc	6.500		02/09/40		8,957
	2,250,000	g	Marfrig Overseas Ltd	9.500		05/04/20		2,388
	7,300,000		Mead Johnson Nutrition Co	4.900		11/01/19		8,029
	2,750,000		Mead Johnson Nutrition Co	5.900		11/01/39		3,100
	2,025,000		PepsiAmericas, Inc	5.750		07/31/12		2,206
	625,000		PepsiAmericas, Inc	4.380		02/15/14		688
	3,175,000		PepsiCo, Inc	7.900		11/01/18		4,230
	2,900,000		Philip Morris International, Inc	4.880		05/16/13		3,184
	7,425,000		Philip Morris International, Inc	6.880		03/17/14		8,754
	1,600,000		Philip Morris International, Inc	6.380		05/16/38		1,972
	1,000,000	g	Smithfield Foods, Inc	10.000		07/15/14		1,150
			TOTAL FOOD, BEVERAGE & TOBACCO					133,543

285

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 0.4%
$	3,750,000		Boston Scientific Corp	4.500	%	01/15/15	$	3,836
	2,000,000		CHS	8.880		07/15/15		2,125
	1,056,000		DaVita, Inc	6.630		03/15/13		1,073
	4,259,000	o	HCA, Inc	9.630		11/15/16		4,621
	4,250,000		McKesson Corp	6.500		02/15/14		4,876
	5,000,000		Medtronic, Inc	4.750		09/15/15		5,705
	4,450,000		Medtronic, Inc	4.450		03/15/20		4,874
	3,500,000		Quest Diagnostics, Inc	6.400		07/01/17		4,035
	6,200,000		Stryker Corp	3.000		01/15/15		6,528
	4,000,000		Stryker Corp	4.380		01/15/20		4,385
	6,225,000		Thermo Fisher Scientific, Inc	2.150		12/28/12		6,346
	1,695,000		Thermo Fisher Scientific, Inc	3.200		05/01/15		1,787
	1,750,000		Thermo Fisher Scientific, Inc	5.000		06/01/15		1,977
	2,560,000		Thermo Fisher Scientific, Inc	4.700		05/01/20		2,859
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					55,027
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	4,975,000		Procter & Gamble Co	5.550		03/05/37		5,829
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS					5,829
INSURANCE - 1.0%
	3,825,000		ACE INA Holdings, Inc	5.880		06/15/14		4,346
	2,155,000		Aetna, Inc	6.500		09/15/18		2,559
	1,925,000		Aetna, Inc	6.630		06/15/36		2,199
	2,725,000		Aflac, Inc	8.500		05/15/19		3,467
	1,525,000		Aflac, Inc	6.900		12/17/39		1,680
	5,000,000	g	AIG SunAmerica Global Financing VI	6.300		05/10/11		5,100
	5,375,000		Allstate Corp	7.450		05/16/19		6,715
	4,375,000		American Financial Group, Inc	9.880		06/15/19		5,393
	3,750,000		Chubb Corp	6.000		05/11/37		4,310
	1,390,000		CIGNA Corp	5.130		06/15/20		1,502
	7,600,000		Hartford Financial Services Group, Inc	4.000		03/30/15		7,777
	7,600,000		Hartford Financial Services Group, Inc	5.500		03/30/20		7,729
	3,725,000		Hartford Financial Services Group, Inc	6.630		03/30/40		3,737
	2,800,000		Lincoln National Corp	7.000		06/15/40		3,190
	3,000,000		Metlife, Inc	5.380		12/15/12		3,226
	5,620,000		Metlife, Inc	5.000		06/15/15		6,237
	7,675,000		Metlife, Inc	6.750		06/01/16		9,163
	2,500,000		Metlife, Inc	5.700		06/15/35		2,658
	2,000,000		Metlife, Inc	5.880		02/06/41		2,175
	2,000,000		Prudential Financial, Inc	5.100		09/20/14		2,186
	8,050,000		Prudential Financial, Inc	7.380		06/15/19		9,807
	5,000,000		Prudential Financial, Inc	6.630		06/21/40		5,737
	3,000,000	g	Prudential Funding LLC	6.750		09/15/23		3,641
	4,250,000		Travelers Cos, Inc	5.800		05/15/18		4,887
	1,150,000		Travelers Cos, Inc	5.900		06/02/19		1,338
	1,500,000		Unum Group	5.630		09/15/20		1,541
	4,902,000		WellPoint, Inc	6.380		01/15/12		5,219
	1,800,000		WellPoint, Inc	5.880		06/15/17		2,074
	2,250,000		WellPoint, Inc	5.850		01/15/36		2,366
	2,400,000		WR Berkley Corp	5.380		09/15/20		2,453
			TOTAL INSURANCE					124,412

286

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
MATERIALS - 1.4%
$	3,385,000		3M Co	4.380	%	08/15/13	$	3,729
	4,150,000		3M Co	5.700		03/15/37		4,891
	4,600,000		Air Products & Chemicals, Inc	4.150		02/01/13		4,865
	6,630,000		Air Products & Chemicals, Inc	4.380		08/21/19		7,059
	1,125,000		Airgas, Inc	4.500		09/15/14		1,202
	1,000,000	g	Airgas, Inc	7.130		10/01/18		1,103
	5,660,000		Alcoa, Inc	6.150		08/15/20		5,818
	4,500,000	g	Anglo American Capital plc	2.150		09/27/13		4,533
	1,500,000		AngloGold Ashanti Holdings plc	5.380		04/15/20		1,587
	3,040,000		ArcelorMittal	5.380		06/01/13		3,264
	2,085,000		ArcelorMittal	9.850		06/01/19		2,680
	8,370,000		ArcelorMittal	7.000		10/15/39		8,550
	1,015,000		Ball Corp	7.130		09/01/16		1,096
	355,000		Ball Corp	7.380		09/01/19		386
	3,875,000		Barrick Australian Finance Pty Ltd	5.950		10/15/39		4,396
	4,500,000	g	Braskem SA	7.000		05/07/20		4,753
	4,500,000	g	Cemex SAB de C.V.	9.500		12/14/16		4,528
	2,000,000		CF Industries, Inc	6.880		05/01/18		2,153
	3,175,000		CF Industries, Inc	7.130		05/01/20		3,473
	1,570,000		Clorox Co	5.450		10/15/12		1,706
	1,000,000		Clorox Co	3.550		11/01/15		1,073
	5,000,000		Crown Americas LLC	7.750		11/15/15		5,206
	4,500,000	g	CSN Resources S.A.	6.500		07/21/20		4,798
	1,000,000		Eastman Chemical Co	5.500		11/15/19		1,109
	6,450,000		EI Du Pont de Nemours & Co	3.250		01/15/15		6,899
	6,000,000		EI Du Pont de Nemours & Co	4.630		01/15/20		6,676
	5,575,000		Freeport-McMoRan Copper & Gold, Inc	8.380		04/01/17		6,222
	750,000	g	Georgia-Pacific LLC	7.000		01/15/15		780
	5,300,000	g	Gerdau S.A.	5.750		01/30/21		5,378
	12,820,000		Gold Fields Orogen Holdings	4.875		10/07/20		12,730
	1,400,000		Greif, Inc	7.750		08/01/19		1,514
	4,250,000		International Paper Co	7.300		11/15/39		4,758
	1,940,000		Newmont Mining Corp	6.250		10/01/39		2,224
	7,100,000		Potash Corp of Saskatchewan, Inc	4.880		03/30/20		7,547
	5,050,000		Praxair, Inc	5.250		11/15/14		5,789
	3,850,000		Rio Tinto Finance USA Ltd	5.880		07/15/13		4,291
	4,000,000		Rio Tinto Finance USA Ltd	6.500		07/15/18		4,824
	2,500,000		Rio Tinto Finance USA Ltd	9.000		05/01/19		3,489
	2,000,000		Silgan Holdings, Inc	7.250		08/15/16		2,123
	3,140,000	g	Sociedad Quimica y Minera de Chile S.A.	5.500		04/21/20		3,307
	2,000,000		Solutia, Inc	7.880		03/15/20		2,138
	4,500,000	g	Suzano Trading Ltd	5.880		01/23/21		4,500
	1,838,000		Teck Resources Ltd	10.750		05/15/19		2,315
			TOTAL MATERIALS					171,462
MEDIA - 1.1%
	3,000,000		AMC Entertainment, Inc	8.750		06/01/19		3,161
	1,011,000		Comcast Cable Communications Holdings, Inc	8.380		03/15/13		1,174
	6,500,000		Comcast Corp	5.650		06/15/35		6,562
	3,475,000		Comcast Corp	6.400		03/01/40		3,864
	1,455,000	g	CSC Holdings LLC	8.500		04/15/14		1,602

287

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,740,000		DIRECTV Holdings LLC	7.630	%	05/15/16	$	5,285
	9,750,000		DIRECTV Holdings LLC	5.200		03/15/20		10,553
	3,000,000		DIRECTV Holdings LLC	6.000		08/15/40		3,098
	5,000,000		DISH DBS Corp	7.880		09/01/19		5,381
	5,000,000		Grupo Televisa S.A.	6.000		05/15/18		5,568
	1,970,000		Interpublic Group of Cos, Inc	6.250		11/15/14		2,093
	375,000		Lamar Media Corp	6.630		08/15/15		380
	2,160,000		Lamar Media Corp	7.880		04/15/18		2,268
	8,700,000	g	NBC Universal, Inc	5.150		04/30/20		9,395
	14,000,000	g	NBC Universal, Inc	4.380		04/01/21		14,172
	6,750,000	g	NBC Universal, Inc	5.950		04/01/41		6,943
	1,365,000		Nielsen Finance LLC	7.750		10/15/18		1,355
	3,000,000		Nielsen Finance LLC	10.000		08/01/14		3,154
	1,425,000		Nielsen Finance LLC	12.500		08/01/16		1,427
	5,495,000		Time Warner Cable, Inc	6.200		07/01/13		6,190
	2,100,000		Time Warner Cable, Inc	8.750		02/14/19		2,773
	9,675,000		Time Warner Cable, Inc	8.250		04/01/19		12,491
	3,000,000		Time Warner, Inc	3.150		07/15/15		3,110
	3,825,000		Time Warner, Inc	6.500		11/15/36		4,290
	3,875,000		Viacom, Inc	4.380		09/15/14		4,206
			TOTAL MEDIA					120,495
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.8%
	1,550,000		Abbott Laboratories	5.600		05/15/11		1,600
	8,100,000		Abbott Laboratories	4.130		05/27/20		8,815
	3,975,000		Abbott Laboratories	5.300		05/27/40		4,314
	9,575,000		Amgen, Inc	3.450		10/01/20		9,640
	6,170,000		Eli Lilly & Co	3.550		03/06/12		6,412
	3,750,000		GlaxoSmithKline Capital, Inc	5.650		05/15/18		4,455
	4,000,000		Johnson & Johnson	5.850		07/15/38		4,858
	2,435,000		Life Technologies Corp	3.380		03/01/13		2,505
	1,550,000		Life Technologies Corp	4.400		03/01/15		1,653
	1,500,000	g	Mylan, Inc	7.880		07/15/20		1,607
	3,750,000		Novartis Capital Corp	4.130		02/10/14		4,095
	15,775,000		Novartis Capital Corp	2.900		04/24/15		16,632
	2,715,000		Novartis Capital Corp	4.400		04/24/20		3,015
	3,230,000		Pfizer, Inc	5.350		03/15/15		3,727
	7,150,000		Pfizer, Inc	6.200		03/15/19		8,803
	3,225,000		Schering-Plough Corp	6.550		09/15/37		4,168
	5,315,000		Teva Pharmaceutical Finance LLC	3.000		06/15/15		5,560
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					91,859
REAL ESTATE - 0.5%
	2,310,000		AMB Property LP	4.500		08/15/17		2,335
	1,915,000	g	BioMed Realty LP	6.130		04/15/20		2,084
	1,610,000		Boston Properties LP	5.880		10/15/19		1,799
	1,875,000		Boston Properties LP	2.880		02/15/37		1,894
	1,525,000		Brandywine Operating Partnership LP	7.500		05/15/15		1,709
	1,525,000		Brandywine Operating Partnership LP	5.700		05/01/17		1,544
	4,500,000	g	Desarrolladora Homex SAB de C.V.	9.500		12/11/19		5,063
	2,325,000		Developers Diversified Realty Corp	7.500		04/01/17		2,416
	3,460,000		Developers Diversified Realty Corp	7.880		09/01/20		3,585
	2,700,000	g	Digital Realty Trust LP	4.500		07/15/15		2,788

288

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	255,000		Federal Realty Investment Trust	5.650	%	06/01/16	$	283
	700,000		Federal Realty Investment Trust	5.900		04/01/20		778
	2,675,000		Health Care REIT, Inc	4.700		09/15/17		2,703
	1,600,000		Highwoods Properties, Inc	5.850		03/15/17		1,646
	840,000		Kimco Realty Corp	5.700		05/01/17		922
	2,850,000		Liberty Property LP	4.750		10/01/20		2,870
	1,480,000		Mack-Cali Realty Corp	7.750		08/15/19		1,761
	915,000		National Retail Properties, Inc	6.880		10/15/17		1,038
	900,000		Nationwide Health Properties, Inc	6.250		02/01/13		976
	1,485,000		ProLogis	7.630		08/15/14		1,605
	385,000		ProLogis	5.750		04/01/16		380
	1,540,000		ProLogis	5.630		11/15/16		1,483
	2,325,000		Realty Income Corp	5.950		09/15/16		2,573
	3,875,000		Realty Income Corp	5.750		01/15/21		4,108
	2,325,000		Regency Centers LP	5.250		08/01/15		2,504
	225,000		Regency Centers LP	5.880		06/15/17		244
	800,000		Simon Property Group LP	5.250		12/01/16		894
	3,040,000		Simon Property Group LP	10.350		04/01/19		4,248
	1,000,000		Simon Property Group LP	4.380		03/01/21		1,014
	1,750,000	g,i	USB Realty Corp	6.090		12/30/49		1,295
	3,750,000		Washington Real Estate Investment Trust	4.950		10/01/20		3,762
			TOTAL REAL ESTATE					62,304
RETAILING - 0.5%
	5,250,000	g	Ace Hardware Corp	9.130		06/01/16		5,604
	7,750,000		Advance Auto Parts, Inc	5.750		05/01/20		8,359
	650,000		Home Depot, Inc	3.950		09/15/20		663
	3,900,000		Home Depot, Inc	5.880		12/16/36		4,158
	4,700,000		JC Penney Corp, Inc	5.750		02/15/18		4,841
	1,925,000		JC Penney Corp, Inc	5.650		06/01/20		1,961
	9,317,000		Macy’s Retail Holdings, Inc	5.900		12/01/16		9,923
	3,000,000		Martin Marietta Materials, Inc	6.600		04/15/18		3,364
	2,000,000	g	QVC, Inc	7.500		10/01/19		2,090
	3,875,000		Staples, Inc	9.750		01/15/14		4,798
	1,925,000		TJX Cos, Inc	6.950		04/15/19		2,448
	875,000		Wal-Mart Stores, Inc	3.000		02/03/14		928
	3,750,000		Wal-Mart Stores, Inc	5.250		09/01/35		4,016
	4,000,000		Wal-Mart Stores, Inc	5.630		04/01/40		4,531
			TOTAL RETAILING					57,684
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.1%
	3,838,000		Analog Devices, Inc	5.000		07/01/14		4,218
	2,150,000		National Semiconductor Corp	3.950		04/15/15		2,255
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					6,473
SOFTWARE & SERVICES - 0.3%
	3,825,000		Adobe Systems, Inc	3.250		02/01/15		4,003
	7,750,000		Microsoft Corp	0.880		09/27/13		7,761
	10,625,000		Microsoft Corp	1.630		09/25/15		10,632
	4,750,000		Microsoft Corp	3.000		10/01/20		4,738
	3,925,000		Oracle Corp	3.750		07/08/14		4,277
	3,100,000		Oracle Corp	5.750		04/15/18		3,686
	3,750,000	g	Oracle Corp	3.880		07/15/20		3,926

289

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,000,000		Sungard Data Systems, Inc	9.130	%	08/15/13	$	2,043
	1,310,000		Sungard Data Systems, Inc	10.250		08/15/15		1,379
	7,500,000		Symantec Corp	2.750		09/15/15		7,573
			TOTAL SOFTWARE & SERVICES					50,018
TECHNOLOGY HARDWARE & EQUIPMENT - 0.6%
	1,700,000		Agilent Technologies, Inc	2.500		07/15/13		1,734
	4,000,000		Amphenol Corp	4.750		11/15/14		4,340
	1,000,000		Brocade Communications Systems, Inc	6.880		01/15/20		1,050
	10,685,000		Cisco Systems, Inc	4.450		01/15/20		11,740
	3,300,000		General Electric Co	5.250		12/06/17		3,714
	7,525,000		Hewlett-Packard Co	4.250		02/24/12		7,889
	2,550,000		Hewlett-Packard Co	2.950		08/15/12		2,659
	5,250,000		Hewlett-Packard Co	4.750		06/02/14		5,885
	7,325,000		International Business Machines Corp	1.000		08/05/13		7,350
	3,150,000		International Game Technology	7.500		06/15/19		3,744
	4,450,000		L-3 Communications Corp	6.380		10/15/15		4,588
	2,255,000		L-3 Communications Corp	5.200		10/15/19		2,438
	2,000,000		NII Capital Corp	8.880		12/15/19		2,223
	3,600,000		Xerox Corp	8.250		05/15/14		4,316
	5,000,000		Xerox Corp	4.250		02/15/15		5,369
	2,075,000		Xerox Corp	5.630		12/15/19		2,322
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					71,361
TELECOMMUNICATION SERVICES - 1.6%
	2,400,000		America Movil SAB de C.V.	5.000		03/30/20		2,588
	4,000,000		America Movil SAB de C.V.	6.130		03/30/40		4,453
	2,500,000		AT&T, Inc	2.500		08/15/15		2,547
	2,000,000		AT&T, Inc	6.150		09/15/34		2,189
	3,625,000		AT&T, Inc	6.500		09/01/37		4,194
	11,500,000		AT&T, Inc	6.300		01/15/38		12,989
	3,886,000	g	AT&T, Inc	5.350		09/01/40		3,904
	2,500,000	g	Axtel SAB de C.V.	9.000		09/22/19		2,306
	1,745,000		BellSouth Capital Funding Corp	7.880		02/15/30		2,177
	13,125,000		BellSouth Corp	5.200		09/15/14		14,760
	14,950,000		Cellco Partnership	3.750		05/20/11		15,248
	1,025,000		Cellco Partnership	5.550		02/01/14		1,159
	13,850,000		Cellco Partnership	8.500		11/15/18		18,860
	4,000,000		Deutsche Telekom International Finance BV	8.750		06/15/30		5,601
	8,500,000		France Telecom S.A.	2.130		09/16/15		8,559
	4,500,000	g	Globo Comunicacao e Participacoes S.A.	6.250		12/30/49		4,601
	2,500,000	g	Indosat Palapa Co	7.380		07/29/20		2,756
	3,500,000	g	MTS International Funding Ltd	8.630		06/22/20		4,008
	4,000,000		New Cingular Wireless Services, Inc	7.880		03/01/11		4,119
	3,000,000	g	Qwest Communications International, Inc	7.130		04/01/18		3,150
	3,000,000		Qwest Corp	8.880		03/15/12		3,293
	3,280,000	g	Sable International Finance Ltd	7.750		02/15/17		3,460
	2,000,000		SBA Telecommunications, Inc	8.000		08/15/16		2,150
	1,225,000		Sprint Nextel Corp	6.000		12/01/16		1,210
	3,075,000		Telecom Italia Capital S.A.	6.180		06/18/14		3,391
	2,825,000		Telecom Italia Capital S.A.	7.000		06/04/18		3,245
	6,275,000		Telecom Italia Capital S.A.	7.180		06/18/19		7,365
	7,465,000		Telefonica Emisiones SAU	5.130		04/27/20		8,121

290

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,500,000		Telefonos de Mexico SAB de C.V.	5.500	%	11/15/19	$	4,919
	8,728,000	g	Telemar Norte Leste S.A.	5.500		10/23/20		8,837
	5,550,000		Verizon Communications, Inc	4.350		02/15/13		5,984
	2,905,000		Verizon Communications, Inc	8.750		11/01/18		3,953
	3,875,000		Verizon Communications, Inc	6.250		04/01/37		4,379
	2,900,000		Verizon Communications, Inc	6.400		02/15/38		3,354
	3,100,000		Verizon Communications, Inc	8.950		03/01/39		4,545
	6,500,000		Verizon Virginia, Inc	4.630		03/15/13		6,963
	4,500,000		Virgin Media Finance plc	9.500		08/15/16		5,085
	735,000	g	Windstream Corp	8.130		09/01/18		761
			TOTAL TELECOMMUNICATION SERVICES					201,183
TRANSPORTATION - 0.5%
	2,840,000		Bristow Group, Inc	7.500		09/15/17		2,911
	3,750,000		Burlington Northern Santa Fe Corp	6.750		07/15/11		3,932
	7,650,000		Burlington Northern Santa Fe Corp	4.700		10/01/19		8,402
	2,400,000		Burlington Northern Santa Fe Corp	6.150		05/01/37		2,749
	7,000,000		Burlington Northern Santa Fe Corp	5.750		05/01/40		7,725
	4,500,000	g	DP World Ltd	6.850		07/02/37		4,209
	2,325,000		Embraer Overseas Ltd	6.380		01/15/20		2,546
	3,890,000	g	ERAC USA Finance LLC	5.250		10/01/20		4,155
	2,640,000	g	Kansas City Southern de Mexico S.A. de C.V.	8.000		02/01/18		2,838
	3,875,000	g	Meccanica Holdings USA	6.250		01/15/40		3,855
	2,500,000		Norfolk Southern Corp	5.750		01/15/16		2,893
	2,800,000		Norfolk Southern Corp	5.750		04/01/18		3,279
	2,056,000		Norfolk Southern Corp	5.590		05/17/25		2,277
	3,948,438		Totem Ocean Trailer Express, Inc	4.510		12/18/19		4,401
	1,500,000		Union Pacific Corp	6.500		04/15/12		1,619
	6,375,000		Union Pacific Corp	5.130		02/15/14		7,076
			TOTAL TRANSPORTATION					64,867
UTILITIES - 2.1%
	259,000	g	AES Corp	8.750		05/15/13		263
	2,250,000		AGL Capital Corp	5.250		08/15/19		2,396
	2,000,000		AGL Capital Corp	6.000		10/01/34		2,108
	8,435,000		Alliant Energy Corp	4.000		10/15/14		8,865
	5,500,000		Atmos Energy Corp	8.500		03/15/19		7,149
	4,500,000		Carolina Power & Light Co	5.130		09/15/13		4,997
	4,750,000		Carolina Power & Light Co	5.300		01/15/19		5,520
	2,750,000		Carolina Power & Light Co	5.700		04/01/35		3,109
	2,100,000		CenterPoint Energy Houston Electric LLC	7.000		03/01/14		2,478
	4,250,000		CenterPoint Energy Resources Corp	7.880		04/01/13		4,894
	3,550,000		CenterPoint Energy Resources Corp	6.250		02/01/37		4,005
	4,375,000	g	Colbun S.A.	6.000		01/21/20		4,614
	1,325,000		Commonwealth Edison Co	4.000		08/01/20		1,389
	4,200,000		Commonweatlh Edison Co	5.900		03/15/36		4,683
	2,750,000		Connecticut Light & Power Co	5.500		02/01/19		3,151
	1,500,000		Consolidated Edison Co of New York, Inc	4.450		06/15/20		1,646
	3,500,000		Consolidated Edison Co of New York, Inc	5.700		06/15/40		3,943
	3,500,000		Consolidated Natural Gas Co	6.250		11/01/11		3,691
	4,250,000		Consolidated Natural Gas Co	5.000		12/01/14		4,764
	4,500,000	g	Dubai Electricity & Water Authority	8.500		04/22/15		4,844
	7,150,000		Duke Energy Carolinas LLC	5.750		11/15/13		8,132

291

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,400,000		Duke Energy Carolinas LLC	4.300	%	06/15/20	$	1,544
	4,000,000		FirstEnergy Solutions Corp	4.800		02/15/15		4,299
	4,000,000		FirstEnergy Solutions Corp	6.050		08/15/21		4,273
	2,000,000		Florida Power Corp	6.400		06/15/38		2,474
	3,500,000		FPL Group Capital, Inc	2.600		09/01/15		3,526
	5,000,000		Georgia Power Co	5.400		06/01/40		5,398
	5,000,000		Indiana Michigan Power Co	7.000		03/15/19		6,140
	1,000,000	g	Kansas Gas & Electric	6.700		06/15/19		1,220
	2,460,000	g	Kazatomprom	6.250		05/20/15		2,657
	2,815,000		Kinder Morgan Energy Partners LP	5.850		09/15/12		3,039
	2,825,000		Kinder Morgan Energy Partners LP	9.000		02/01/19		3,678
	3,850,000		Kinder Morgan Energy Partners LP	6.500		09/01/39		4,163
	1,850,000	g	Korea Hydro & Nuclear Power Co Ltd	3.130		09/16/15		1,848
	5,950,000		Midamerican Energy Holdings Co	5.950		05/15/37		6,693
	2,092,000		Mirant North America LLC	7.380		12/31/13		2,155
	4,000,000		National Fuel Gas Co	5.250		03/01/13		4,236
	2,800,000		Nevada Power Co	6.500		08/01/18		3,388
	3,500,000		Nevada Power Co	6.650		04/01/36		4,191
	3,250,000		Nevada Power Co	5.380		09/15/40		3,352
	3,250,000		NiSource Finance Corp	10.750		03/15/16		4,293
	3,500,000		NRG Energy, Inc	7.250		02/01/14		3,592
	2,850,000	g	Oncor Electric Delivery Co LLC	5.250		09/30/40		2,903
	4,075,000		ONEOK Partners LP	5.900		04/01/12		4,347
	5,250,000		Pacific Gas & Electric Co	8.250		10/15/18		6,975
	2,750,000		PacifiCorp	6.000		01/15/39		3,239
	4,825,000		Pepco Holdings, Inc	2.700		10/01/15		4,835
	6,750,000		PG&E Corp	5.750		04/01/14		7,590
	750,000		Potomac Electric Power Co	7.900		12/15/38		1,086
	4,500,000	g	Power Sector Assets & Liabilities Management Corp	7.390		12/02/24		5,535
	3,825,000		Progress Energy, Inc	7.050		03/15/19		4,742
	2,000,000		Public Service Co of Colorado	7.880		10/01/12		2,261
	2,825,000		Public Service Co of Colorado	4.880		03/01/13		3,078
	2,500,000		Public Service Co of Colorado	5.500		04/01/14		2,824
	8,800,000		Public Service Co of Oklahoma	5.150		12/01/19		9,627
	2,640,000		Public Service Electric & Gas Co	5.300		05/01/18		3,016
	5,000,000		Public Service Electric & Gas Co	3.500		08/15/20		5,119
	2,000,000		Sabine Pass LNG LP	7.250		11/30/13		1,930
	3,100,000		San Diego Gas & Electric Co	5.350		05/15/40		3,480
	4,000,000		Sempra Energy	6.000		10/15/39		4,517
	2,000,000		Spectra Energy Capital LLC	6.250		02/15/13		2,177
	2,600,000		Veolia Environnement	5.250		06/03/13		2,834
	4,500,000		Virginia Electric and Power Co	4.750		03/01/13		4,868
	3,000,000		Williams Partners LP	3.800		02/15/15		3,157
	5,350,000		Williams Partners LP	5.250		03/15/20		5,816
	6,200,000		Williams Partners LP	6.300		04/15/40		6,834
	3,000,000		Wisconsin Electric Power Co	5.630		05/15/33		3,367
			TOTAL UTILITIES					268,957
			TOTAL CORPORATE BONDS					3,744,824
			(Cost $3,489,985)

292

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
GOVERNMENT BONDS - 62.3%
AGENCY SECURITIES - 5.5%
			Federal Farm Credit Bank (FFCB)
$	31,850,000		FFCB	2.630	%	04/21/11	$	32,263
	7,250,000		FFCB	5.380		07/18/11		7,542
	9,750,000		FFCB	1.380		06/25/13		9,922
			Federal Home Loan Bank (FHLB)
	3,000,000		FHLB	3.630		09/16/11		3,097
	15,000,000		FHLB	1.880		06/21/13		15,456
			Federal Home Loan Mortgage Corp (FHLMC)
	22,500,000		FHLMC	5.250		07/18/11		23,390
	5,000,000		FHLMC	1.750		06/15/12		5,108
	15,000,000		FHLMC	5.500		08/20/12		16,401
	8,600,000		FHLMC	2.130		09/21/12		8,868
	5,000,000		FHLMC	4.130		12/21/12		5,383
	6,000,000		FHLMC	3.500		05/29/13		6,436
	27,600,000		FHLMC	2.500		04/23/14		29,012
	20,000,000		FHLMC	3.000		07/28/14		21,391
	1,138,426		FHLMC	5.750		12/15/18		1,200
			Federal National Mortgage Association (FNMA)
	19,400,000		FNMA	1.380		04/28/11		19,523
	8,000,000		FNMA	5.000		10/15/11		8,386
	20,000,000		FNMA	2.000		01/09/12		20,405
	2,000,000		FNMA	1.130		07/30/12		2,022
	10,000,000		FNMA	3.630		02/12/13		10,693
	20,500,000		FNMA	1.250		08/20/13		20,740
	24,500,000		FNMA	2.750		02/05/14		25,924
	76,000,000		FNMA	2.750		03/13/14		80,490
	25,500,000		FNMA	2.500		05/15/14		26,759
	23,500,000		FNMA	3.000		09/16/14		25,125
	35,000,000		FNMA	2.630		11/20/14		36,899
	23,272,307		AMAL Ltd	3.470		08/21/21		24,452
	5,105,466		Cal Dive I- Title XI, Inc	4.930		02/01/27		5,649
	3,500,000		European Investment Bank	4.880		02/15/36		3,903
	26,000,000	g,j	FDIC Structured Sale Guarantee	0.000		10/25/12		25,286
	5,000,000		International Finance Corp	5.130		05/02/11		5,141
	1,794,024		Overseas Private Investment Corp	3.420		01/15/15		1,891
	24,144,538		Premier Aircraft Leasing	3.580		02/06/22		25,310
	13,000,000		Private Export Funding Corp	4.900		12/15/11		13,705
	25,000,000		Private Export Funding Corp	3.550		04/15/13		26,738
	10,000,000		Private Export Funding Corp	3.050		10/15/14		10,692
	7,000,000		Private Export Funding Corp	4.550		05/15/15		7,928
	17,000,000		Private Export Funding Corp	5.450		09/15/17		20,448
	10,000,000		Private Export Funding Corp	4.380		03/15/19		11,252
	20,000,000		Private Export Funding Corp	4.300		12/15/21		21,985
	9,322,157		San Clemente Leasing LLC	3.590		08/27/21		10,206
	3,000,000		US Department of Housing and Urban Development	5.380		08/01/18		3,585
			TOTAL AGENCY SECURITIES					680,606
FOREIGN GOVERNMENT BONDS - 4.3%
	2,270,000	g	Arab Republic of Egypt	5.750		04/29/20		2,432
	3,200,000	g	Bahrain Government International Bond	5.500		03/31/20		3,352
	5,300,000	g	Banco Nacional de Desenvolvimento Economico e Social	6.500		06/10/19		6,115
	4,500,000	g	Banco Nacional de Desenvolvimento Economico e Social	5.500		07/12/20		4,854

293

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,675,000		Banque Centrale de Tunisie	8.250	%	09/19/27	$	2,119
	4,163,000	g	Belgium Government International Bond	2.880		09/15/14		4,312
	3,750,000		Belgium Kingdom	2.750		03/05/15		3,877
	5,460,000		Brazilian Government International Bond	5.880		01/15/19		6,402
	6,920,000		Brazilian Government International Bond	4.880		01/22/21		7,595
	825,000		Brazilian Government International Bond	7.130		01/20/37		1,085
	4,500,000		Brazilian Government International Bond	5.630		01/07/41		4,939
	12,200,000		Canada Government International Bond	2.380		09/10/14		12,783
	6,300,000		Chile Government International Bond	3.880		08/05/20		6,535
	4,500,000		Colombia Government International Bond	6.130		01/18/41		5,153
	4,500,000	g	Commonwealth of the Bahamas	6.950		11/20/29		4,725
	15,000,000		Council Of Europe Development Bank	2.750		02/10/15		15,833
	4,370,000	g	Croatia Government International Bond	6.630		07/14/20		4,725
	2,350,000	g	Democratic Socialist Republic of Sri Lanka	7.400		01/22/15		2,570
	3,750,000	g	Dominican Republic International Bond	7.500		05/06/21		4,224
	4,660,000		Eksportfinans A/S	5.000		02/14/12		4,933
	15,350,000		Export Development Canada	2.250		05/28/15		15,951
	3,196,000		Export-Import Bank of Korea	5.880		01/14/15		3,572
	7,450,000		Export-Import Bank of Korea	4.130		09/09/15		7,825
	5,000,000		Export-Import Bank of Korea	5.130		06/29/20		5,384
	9,895,000		Federative Republic of Brazil	6.000		01/17/17		11,528
	3,583,333		Federative Republic of Brazil	8.000		01/15/18		4,284
	4,400,000		Italy Government International Bond	5.380		06/12/17		4,858
	4,000,000		Italy Government International Bond	6.880		09/27/23		4,852
	3,330,000		Korea Development Bank	3.250		03/09/16		3,334
	15,350,000		Kreditanstalt fuer Wiederaufbau	4.500		07/16/18		17,662
	12,000,000		Kreditanstalt fuer Wiederaufbau	4.000		01/27/20		13,248
	5,000,000	g	Lithuania Government International Bond	5.130		09/14/17		4,939
	1,000,000		Mexico Government International Bond	6.380		01/16/13		1,114
	2,900,000		Mexico Government International Bond	6.750		09/27/34		3,603
	3,592,000		Mexico Government International Bond	6.050		01/11/40		4,113
	4,500,000		Panama Government International Bond	6.700		01/26/36		5,524
	2,435,000		Peruvian Government International Bond	7.130		03/30/19		3,050
	1,200,000		Peruvian Government International Bond	7.350		07/21/25		1,557
	2,500,000		Peruvian Government International Bond	6.550		03/14/37		3,031
	3,600,000		Poland Government International Bond	3.880		07/16/15		3,745
	8,385,000		Poland Government International Bond	6.380		07/15/19		9,879
	7,000,000	g	Portugal Government International Bond	3.500		03/25/15		6,691
	13,825,000		Province of British Columbia Canada	2.850		06/15/15		14,702
	2,500,000	g	Province of Cordoba	12.380		08/17/17		2,519
	7,400,000		Province of Manitoba Canada	5.000		02/15/12		7,845
	3,000,000		Province of Manitoba Canada	2.130		04/22/13		3,104
	12,000,000		Province of Nova Scotia Canada	2.380		07/21/15		12,351
	20,000,000		Province of Ontario Canada	2.630		01/20/12		20,506
	27,400,000		Province of Ontario Canada	4.100		06/16/14		30,100
	24,250,000		Province of Ontario Canada	2.950		02/05/15		25,670
	35,525,000		Province of Ontario Canada	2.700		06/16/15		37,208
	10,000,000		Province of Ontario Canada	4.000		10/07/19		10,795
	13,000,000		Province of Ontario Canada	4.400		04/14/20		14,377
	2,250,000		Province of Quebec Canada	5.130		11/14/16		2,631
	8,835,000		Province of Quebec Canada	4.630		05/14/18		10,064
	22,500,000		Province of Quebec Canada	3.500		07/29/20		23,051
	6,000,000		Province of Quebec Canada	7.500		09/15/29		8,742

294

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,000,000		Qatar Government International Bond	5.250	%	01/20/20	$	3,300
	230,000	g	Qatar Govt International Bond	4.000		01/20/15		243
	2,700,000		Republic of Hungary	6.250		01/29/20		2,899
	4,500,000		Republic of Korea	5.750		04/16/14		5,045
	2,250,000	g	Republic of Lithuania	6.750		01/15/15		2,439
	3,866,667		Republic of Serbia	6.750		11/01/24		3,770
	4,500,000		Republic of Turkey	7.500		07/14/17		5,456
	7,000,000	g	Russian Foreign Bond - Eurobond	3.630		04/29/15		7,053
	3,500,000	g	Russian Foreign Bond-Eurobond	5.000		04/29/20		3,647
	4,502,000		South Africa Government International Bond	6.880		05/27/19		5,504
	3,500,000		South Africa Government International Bond	5.500		03/09/20		3,911
	3,700,000	g	Sri Lanka Government International Bond	6.250		10/04/20		3,732
	4,500,000		Turkey Government International Bond	5.630		03/30/21		4,905
	3,500,000	g	Ukraine Government International Bond	6.880		09/23/15		3,513
	3,500,000	g	Ukraine Government International Bond	7.750		09/23/20		3,513
	2,180,000		United Mexican States	5.880		02/17/14		2,463
	3,500,000		United Mexican States	5.950		03/19/19		4,107
	500,000		United Mexican States	5.130		01/15/20		559
	4,500,000		Uruguay Government International Bond	6.880		09/28/25		5,411
			TOTAL FOREIGN GOVERNMENT BONDS					543,442
MORTGAGE BACKED - 30.7%
			Federal Home Loan Mortgage Corp (FHLMC)
	6,354,097	i	FHLMC	2.640		02/01/36		6,606
	6,535,164	i	FHLMC	5.810		07/01/36		6,901
	4,790,729	i	FHLMC	3.050		09/01/36		5,012
	5,523,060	i	FHLMC	5.910		09/01/36		5,833
	3,955,365	i	FHLMC	5.930		09/01/36		4,191
	4,191,098	i	FHLMC	6.000		09/01/36		4,438
	12,598,819	i	FHLMC	5.740		02/01/37		13,502
	11,951,522	i	FHLMC	5.560		03/01/37		12,671
	10,497,281	i	FHLMC	5.880		04/01/37		11,237
	777,014	i	FHLMC	5.720		05/01/37		833
	8,261,666	i	FHLMC	5.610		06/01/37		8,796
	6,081,312	i	FHLMC	5.650		08/01/37		6,495
	6,691,340	i	FHLMC	5.690		09/01/37		7,142
			Federal Home Loan Mortgage Corp Gold (FGLMC)
	14,899		FGLMC	6.000		04/01/11		15
	176,429		FGLMC	7.000		07/01/13		187
	964,207		FGLMC	6.500		12/01/16		1,037
	8,005,030		FGLMC	5.000		09/01/18		8,544
	3,445,491		FGLMC	4.500		10/01/18		3,660
	2,036,778		FGLMC	4.500		11/01/18		2,163
	1,959,991		FGLMC	5.500		01/01/19		2,120
	942,239		FGLMC	4.000		06/01/19		998
	4,367,465		FGLMC	4.500		01/01/20		4,640
	2,961,296		FGLMC	4.500		07/01/20		3,123
	2,146,556		FGLMC	4.500		08/01/20		2,281
	300,361		FGLMC	7.000		10/01/20		337
	31,497,563		FGLMC	4.500		06/01/21		33,397
	10,123,662		FGLMC	4.500		06/01/21		10,734
	4,224,949		FGLMC	5.000		04/01/23		4,483
	49,091		FGLMC	7.000		05/01/23		55

295

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	767,200	FGLMC	6.000	%	10/01/23	$	840
	617,477	FGLMC	6.000		11/01/23		676
	14,103,092	FGLMC	4.000		07/01/24		14,743
	5,046,885	FGLMC	4.500		09/01/24		5,310
	33,000,000	FGLMC	5.000		10/15/25		34,995
	135,335	FGLMC	8.000		01/01/31		156
	72,966	FGLMC	7.000		11/01/31		83
	172,387	FGLMC	7.000		12/01/31		196
	86,643	FGLMC	7.000		12/01/31		98
	271,184	FGLMC	7.000		12/01/31		308
	6,621	FGLMC	7.000		01/01/32		8
	372,162	FGLMC	8.000		02/01/32		428
	6,630,103	FGLMC	4.500		07/01/33		6,975
	3,171,424	FGLMC	5.500		11/01/33		3,434
	15,555,514	FGLMC	5.500		12/01/33		16,704
	3,861,936	FGLMC	5.500		12/01/33		4,145
	20,694,644	FGLMC	7.000		12/01/33		23,470
	48,797,744	FGLMC	5.000		01/01/34		51,706
	10,100,329	FGLMC	5.000		05/01/34		10,686
	6,054,693	FGLMC	6.000		09/01/34		6,601
	20,388,788	FGLMC	4.500		10/01/34		21,450
	1,608,765	FGLMC	5.500		12/01/34		1,723
	8,286,573	FGLMC	4.500		04/01/35		8,710
	2,910,053	FGLMC	6.000		05/01/35		3,194
	1,662,194	FGLMC	6.000		05/01/35		1,824
	2,385,627	FGLMC	6.000		05/01/35		2,611
	2,926,040	FGLMC	6.000		05/01/35		3,208
	5,489,666	FGLMC	6.000		05/01/35		6,001
	3,456,897	FGLMC	6.000		05/01/35		3,784
	8,397,378	FGLMC	7.000		05/01/35		9,524
	1,625,887	FGLMC	5.500		06/01/35		1,736
	1,635,154	FGLMC	5.500		06/01/35		1,746
	5,182,027	FGLMC	5.500		06/01/35		5,532
	18,070,397	FGLMC	5.500		06/01/35		19,292
	3,190,797	FGLMC	6.000		06/01/35		3,497
	14,673,390	FGLMC	4.500		08/01/35		15,373
	1,652,504	FGLMC	5.000		10/01/35		1,746
	449,941	FGLMC	6.500		11/01/35		503
	2,185,807	FGLMC	6.000		01/01/36		2,355
	4,125,808	FGLMC	5.000		02/01/36		4,360
	1,753,827	FGLMC	5.500		04/01/36		1,874
	1,644,259	FGLMC	6.500		05/01/36		1,796
	10,171,074	FGLMC	6.500		10/01/36		11,107
	17,629,877	FGLMC	5.500		04/01/37		18,713
	28,406,139	FGLMC	5.500		05/01/37		30,151
	9,455,952	FGLMC	6.000		08/01/37		10,225
	4,148,350	FGLMC	6.000		09/01/37		4,485
	6,844,822	FGLMC	6.500		11/01/37		7,464
	19,461,234	FGLMC	5.000		04/01/38		20,576
	15,852,340	FGLMC	6.000		11/01/38		17,007
	14,599,899	FGLMC	4.500		05/01/39		15,200
	18,079,196	FGLMC	4.000		06/01/39		18,560
	11,003,094	FGLMC	5.000		07/01/39		11,566

296

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	100,000,000	FGLMC	5.000	%	11/15/40	$	104,906
	49,000,000	FGLMC	5.500		11/15/40		51,925
	9,000,000	FGLMC	6.000		11/15/40		9,637
		Federal National Mortgage Association (FNMA)
	1,156	FNMA	8.000		06/01/11		1
	723	FNMA	8.000		07/01/11		1
	125,292	FNMA	5.000		06/01/13		133
	2,660,821	FNMA	4.440		07/01/13		2,841
	3,543,067	FNMA	4.760		10/01/13		3,730
	1,366,260	FNMA	4.780		02/01/14		1,489
	5,282,878	FNMA	4.440		04/01/14		5,712
	1,531,794	FNMA	4.570		01/01/15		1,658
	279,200	FNMA	7.500		02/01/15		303
	696,034	FNMA	7.500		04/01/15		755
	558,909	FNMA	7.500		04/01/15		593
	61,709	FNMA	6.500		03/01/16		67
	22,338	FNMA	6.500		04/01/16		24
	495,338	FNMA	6.500		10/01/16		537
	354,926	FNMA	6.500		11/01/16		385
	4,440,070	FNMA	5.000		12/01/17		4,739
	1,058,549	FNMA	6.500		02/01/18		1,150
	3,082,629	FNMA	5.500		03/01/18		3,343
	7,379,380	FNMA	5.500		04/01/18		8,002
	611,479	FNMA	5.500		04/01/18		663
	764,572	FNMA	6.500		04/01/18		831
	192,752	FNMA	5.500		05/01/18		209
	11,404,381	FNMA	4.500		12/01/18		12,113
	394,042	FNMA	6.000		01/01/19		427
	80,218	FNMA	6.000		02/01/19		87
	6,805,686	FNMA	5.000		04/01/19		7,268
	3,688,518	FNMA	4.500		06/01/19		3,918
	5,106,118	FNMA	5.000		03/01/20		5,449
	2,501,749	FNMA	5.500		07/01/20		2,705
	1,750,171	FNMA	4.500		11/01/20		1,859
	5,182,158	FNMA	5.000		12/01/20		5,527
	7,598,587	FNMA	5.000		03/01/21		8,110
	4,748,357	FNMA	5.500		08/01/21		5,116
	7,034,839	FNMA	4.500		03/01/23		7,407
	106,630	FNMA	8.000		03/01/23		122
	15,791,127	FNMA	4.500		06/01/23		16,627
	13,806,443	FNMA	5.000		07/01/23		14,649
	11,178,716	FNMA	5.000		07/01/23		11,861
	53,000,000	FNMA	5.000		10/25/23		56,201
	4,114,939	FNMA	5.000		12/01/23		4,372
	1,147,991	FNMA	5.500		02/01/24		1,236
	14,648,531	FNMA	4.000		05/01/24		15,313
	2,227,855	FNMA	5.500		07/01/24		2,399
	330,360	FNMA	8.000		07/01/24		381
	4,527,395	FNMA	4.500		08/01/24		4,766
	3,091,379	FNMA	5.500		08/01/24		3,329
	18,424,904	FNMA	4.000		09/01/24		19,261
	10,816,213	FNMA	5.000		10/01/25		11,464
	31,000,000	FNMA	4.000		10/25/25		32,356

297

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	22,000,000	FNMA	4.500	%	10/25/25	$	23,134
	72,377	FNMA	9.000		11/01/25		84
	5,515,861	FNMA	6.500		07/01/32		6,155
	249,419	FNMA	7.000		07/01/32		283
	627,048	FNMA	7.000		07/01/32		712
	7,498,010	FNMA	5.500		01/01/33		8,061
	9,086,689	FNMA	6.000		01/01/33		9,899
	1,170,169	FNMA	5.000		02/01/33		1,242
	4,757,552	FNMA	4.500		08/01/33		5,010
	4,437,033	FNMA	5.000		08/01/33		4,711
	7,617,121	FNMA	4.500		10/01/33		8,022
	4,231,590	FNMA	5.000		10/01/33		4,493
	2,618,128	FNMA	5.000		10/01/33		2,780
	1,191,649	FNMA	5.000		10/01/33		1,265
	35,984,138	FNMA	5.000		11/01/33		38,207
	678,118	FNMA	5.000		11/01/33		720
	7,460,236	FNMA	5.000		11/01/33		7,921
	6,615,558	FNMA	5.000		11/01/33		7,024
	6,229,504	FNMA	5.500		12/01/33		6,742
	808,303	FNMA	5.500		12/01/33		868
	2,036,497	FNMA	5.500		12/01/33		2,188
	1,889,067	FNMA	5.000		03/01/34		2,006
	4,728,309	FNMA	5.000		03/01/34		5,020
	1,644,278	FNMA	5.000		03/01/34		1,746
	12,615,227	FNMA	5.000		03/01/34		13,395
	1,504,216	FNMA	5.000		03/01/34		1,597
	5,327,259	FNMA	5.500		03/01/34		5,774
	12,104,093	FNMA	5.000		04/01/34		12,825
	47,331,540	FNMA	5.000		08/01/34		50,081
	7,004,157	FNMA	6.000		08/01/34		7,681
	3,568,692	FNMA	5.500		09/01/34		3,868
	2,377,636	FNMA	5.500		09/01/34		2,579
	2,113,829	FNMA	5.500		10/01/34		2,291
	2,153,901	FNMA	5.500		10/01/34		2,337
	2,098,863	FNMA	6.000		12/01/34		2,291
	4,752,305	FNMA	5.500		01/01/35		5,109
	49,490,302	FNMA	5.500		02/01/35		53,174
	3,265,654	FNMA	5.500		04/01/35		3,570
	4,551,737	FNMA	6.000		04/01/35		4,969
	12,494,089	FNMA	4.500		05/01/35		13,158
	14,833,022	FNMA	5.500		05/01/35		15,863
	4,959,572	FNMA	6.000		05/01/35		5,394
	2,442,628	FNMA	5.500		06/01/35		2,612
	1,771,708	FNMA	5.500		06/01/35		1,895
	3,604,255	FNMA	5.500		06/01/35		3,855
	781,692	FNMA	5.500		06/01/35		836
	815,567	FNMA	5.500		06/01/35		882
	114,399	FNMA	7.500		06/01/35		129
	1,425,487	FNMA	5.500		07/01/35		1,524
	2,377,498	FNMA	6.000		07/01/35		2,583
	7,303,151	FNMA	4.500		08/01/35		7,671
	9,763,887	FNMA	5.000		08/01/35		10,321
	9,391,317	FNMA	5.500		09/01/35		10,269

298

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	10,040,278		FNMA	5.000	%	10/01/35	$	10,613
	5,579,267		FNMA	5.500		11/01/35		5,967
	10,859,585		FNMA	5.000		02/01/36		11,480
	4,949,730	i	FNMA	5.630		02/01/36		5,210
	20,557,816		FNMA	6.000		03/01/36		22,204
	3,961,775		FNMA	5.000		04/01/36		4,181
	2,788,601	i	FNMA	5.900		07/01/36		2,953
	4,251,310		FNMA	6.500		09/01/36		4,656
	8,050,223		FNMA	6.000		12/01/36		8,695
	7,217,268		FNMA	6.500		03/01/37		7,967
	259,315		FNMA	6.500		03/01/37		283
	4,841,407		FNMA	7.000		04/01/37		5,398
	8,859,519		FNMA	6.500		08/01/37		9,678
	2,643,934		FNMA	6.500		08/01/37		2,915
	5,278,389		FNMA	6.000		09/01/37		5,821
	5,544,711		FNMA	6.000		09/01/37		6,114
	3,292,999		FNMA	6.000		09/01/37		3,630
	4,261,177		FNMA	6.000		09/01/37		4,697
	8,851,795		FNMA	6.500		09/01/37		9,669
	7,249,905		FNMA	6.500		09/01/37		7,920
	4,071,746		FNMA	6.500		09/01/37		4,448
	7,414,510		FNMA	6.500		09/01/37		8,099
	1,064,296		FNMA	6.500		09/01/37		1,165
	13,230,484	i	FNMA	5.870		10/01/37		14,170
	2,783,884		FNMA	7.000		11/01/37		3,104
	858,141		FNMA	6.500		01/01/38		937
	305,038		FNMA	6.500		02/01/38		334
	5,188,453		FNMA	6.500		03/01/38		5,663
	373,835		FNMA	6.500		03/01/38		408
	1,288,693		FNMA	6.500		03/01/38		1,407
	4,903,925		FNMA	5.000		04/01/38		5,166
	8,669,655		FNMA	5.000		05/01/38		9,133
	18,320,856		FNMA	6.000		07/01/38		19,713
	8,206,686	i	FNMA	4.930		10/01/38		8,729
	31,522,795		FNMA	6.000		10/01/38		33,919
	13,307,950		FNMA	4.500		01/01/39		13,882
	8,880,474		FNMA	5.500		01/01/39		9,448
	9,291,368		FNMA	6.000		01/01/39		9,986
	7,386,795		FNMA	6.000		01/01/39		7,939
	12,816,779		FNMA	4.500		02/01/39		13,370
	23,583,333		FNMA	4.500		02/01/39		24,601
	8,489,679		FNMA	5.500		02/01/39		9,032
	10,374,846		FNMA	4.000		04/01/39		10,760
	18,382,127		FNMA	4.500		05/01/39		19,166
	14,593,812		FNMA	4.500		08/01/39		15,216
	86,052,682		FNMA	4.500		09/01/40		89,710
	58,007,357		FNMA	4.500		09/01/40		60,473
	22,000,000		FNMA	3.500		11/25/40		22,100
	143,000,000		FNMA	4.000		11/25/40		146,575
	250,000,000		FNMA	4.500		11/25/40		259,765
	113,000,000		FNMA	5.000		11/25/40		118,827
	217,000,000		FNMA	5.500		11/25/40		230,461
	297,000,000		FNMA	6.000		11/25/40		318,624

299

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	25,000,000	FNMA	6.500	%	11/25/40	$	27,211
		Government National Mortgage Association (GNMA)
	22,038	GNMA	9.000		06/15/16		24
	4,668	GNMA	9.000		09/15/16		5
	8,976	GNMA	9.000		09/15/16		10
	13,144	GNMA	9.000		11/15/16		13
	6,696	GNMA	9.000		12/15/16		7
	9,288	GNMA	9.000		12/15/16		9
	97,727	GNMA	9.500		12/15/16		109
	46,111	GNMA	8.000		06/15/24		54
	71,054	GNMA	8.500		11/20/30		85
	74,201	GNMA	8.500		12/20/30		89
	3,311,329	GNMA	5.500		07/15/33		3,581
	1,661,630	GNMA	5.500		11/20/33		1,796
	6,267,401	GNMA	5.500		03/20/35		6,760
	3,770,326	GNMA	5.500		12/20/35		4,067
	2,601,624	GNMA	6.000		10/20/36		2,833
	2,720,148	GNMA	6.000		01/20/37		2,956
	7,500,153	GNMA	6.000		02/20/37		8,150
	7,747,741	GNMA	6.000		12/15/37		8,422
	10,745,109	GNMA	5.000		04/15/38		11,459
	13,498,477	GNMA	5.500		07/15/38		14,531
	11,470,814	GNMA	5.500		07/20/38		12,334
	3,801,473	GNMA	6.000		08/15/38		4,131
	3,846,921	GNMA	6.000		08/20/38		4,180
	79,000,000	GNMA	5.500		10/15/38		84,925
	4,975,537	GNMA	6.500		11/20/38		5,464
	13,715,278	GNMA	4.500		03/15/39		14,456
	15,562,527	GNMA	4.500		05/15/39		16,403
	7,019,539	GNMA	5.000		06/15/39		7,533
	6,461,524	GNMA	5.000		06/15/39		6,935
	16,191,349	GNMA	4.500		07/20/39		17,087
	5,593,970	GNMA	5.000		07/20/39		5,976
	5,849,869	GNMA	4.000		08/15/39		6,060
	140,000,000	GNMA	4.500		10/15/39		147,263
	152,000,000	GNMA	5.000		10/15/39		161,833
	40,000,000	GNMA	6.000		10/15/39		43,400
	50,000,000	GNMA	5.000		10/20/40		53,328
	10,248,422	GNMA	6.230		09/15/43		11,016
	7,965,603	GNMA	6.500		01/15/44		8,915
		TOTAL MORTGAGE BACKED					3,834,460
MUNICIPAL BONDS - 0.5%
	2,000,000	Charlotte-Mecklenburg Hospital Authority	5.000		08/01/15		2,177
	13,000,000	Grant County Public Utility District No 2	5.630		01/01/27		14,147
	13,000,000	Long Island Power Authority	5.850		05/01/41		13,267
	16,100,000	State of California	7.630		03/01/40		17,708
	15,250,000	State of Illinois	6.730		04/01/35		15,243
		TOTAL MUNICIPAL BONDS					62,542
U.S. TREASURY SECURITIES - 21.3%
	354,572,000	United States Treasury Bond	8.000		11/15/21		534,795
	22,000,000	United States Treasury Bond	6.380		08/15/27		31,082

300

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
$	49,175,000		United States Treasury Bond	5.250%	02/15/29	$	62,145
	111,861,000		United States Treasury Bond	5.380	02/15/31		144,021
	677,000		United States Treasury Bond	4.500	02/15/36		778
	21,495,000		United States Treasury Bond	3.500	02/15/39		20,796
	89,096,000		United States Treasury Bond	4.380	05/15/40		100,066
	35,650,000		United States Treasury Bond	3.880	08/15/40		36,853
	38,899,500		United States Treasury Note	1.000	08/31/11		39,158
	78,983,000		United States Treasury Note	1.000	09/30/11		79,535
	16,600,000		United States Treasury Note	1.000	12/31/11		16,740
	12,000,000		United States Treasury Note	1.000	04/30/12		12,121
	26,650,000		United States Treasury Note	1.880	06/15/12		27,334
	5,410,000		United States Treasury Note	0.630	06/30/12		5,432
	8,300,000		United States Treasury Note	0.630	07/31/12		8,335
	6,477,000		United States Treasury Note	1.380	10/15/12		6,598
	102,500,000		United States Treasury Note	1.380	11/15/12		104,478
	30,940,000		United States Treasury Note	1.130	06/15/13		31,380
	8,590,000		United States Treasury Note	0.750	08/15/13		8,622
	25,195,000		United States Treasury Note	3.130	08/31/13		27,022
	58,750,000		United States Treasury Note	0.750	09/15/13		58,943
	131,829,000		United States Treasury Note	3.130	09/30/13		141,510
	62,337,000		United States Treasury Note	2.750	10/31/13		66,292
	189,533,000		United States Treasury Note	2.000	11/30/13		197,292
	10,967,000		United States Treasury Note	2.250	05/31/14		11,524
	22,985,000		United States Treasury Note	2.380	08/31/14		24,251
	20,945,000		United States Treasury Note	2.380	10/31/14		22,107
	22,415,000		United States Treasury Note	2.130	11/30/14		23,427
	76,420,000		United States Treasury Note	2.250	01/31/15		80,193
	62,411,000		United States Treasury Note	2.500	04/30/15		66,165
	197,421,000		United States Treasury Note	2.130	05/31/15		205,828
	62,791,000		United States Treasury Note	1.880	06/30/15		64,704
	95,952,000		United States Treasury Note	1.750	07/31/15		98,261
	82,727,500		United States Treasury Note	1.250	08/31/15		82,702
	100,000,000		United States Treasury Note	1.250	09/30/15		99,844
	300,000		United States Treasury Note	2.630	02/29/16		319
	9,800,000		United States Treasury Note	2.380	03/31/16		10,275
	18,075,000		United States Treasury Note	2.630	04/30/16		19,172
	1,075,000		United States Treasury Note	3.000	02/28/17		1,156
	84,690,000		United States Treasury Note	1.880	08/31/17		84,617
	6,220,000		United States Treasury Note	2.630	08/15/20		6,278
	25,000,000	j	United States Treasury Strip Principal	0.000	08/15/27		13,876
			TOTAL U.S. TREASURY SECURITIES				2,676,027
			TOTAL GOVERNMENT BONDS				7,797,077
			(Cost $7,461,665)
STRUCTURED ASSETS - 5.6%
ASSET BACKED - 1.7%
	2,000,000	g	Ally Master Owner Trust	2.880	04/15/13		2,064
			Series - 2010 3 (Class A)
	5,000,000		AmeriCredit Automobile Receivables Trust	5.190	08/17/15		5,260
			Series - 2010 1 (Class C)
	4,950,000		AmeriCredit Automobile Receivables Trust	3.340	04/08/16		4,969
			Series - 2010 3 (Class C)

301

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
$	74,236	g	Asset Backed Funding Corp NIM Trust	5.900%	07/26/35	$	0	^
			Series - 2006 WMC1 (Class N1)
	9,000,000	g	Avis Budget Rental Car Funding AESOP LLC	5.680	02/20/14		9,628
			Series - 2009 2A (Class A)
	2,200,000		CarMax Auto Owner Trust	3.750	12/15/15		2,283
			Series - 2010 1 (Class B)
	2,360,274	i	Chase Funding Mortgage Loan Asset-Backed Certificates	5.700	02/25/35		1,786
			Series - 2004 2 (Class 1M1)
	1,180,137	i	Chase Funding Mortgage Loan Asset-Backed Certificates	5.700	02/25/35		707
			Series - 2004 2 (Class 1M2)
	927,250	i	Chase Funding Mortgage Loan Asset-Backed Certificates	5.700	02/25/35		363
			Series - 2004 2 (Class 1B)
	3,376,203		CIT Group Home Equity Loan Trust	6.200	02/25/30		3,100
			Series - 2002 1 (Class AF6)
	682,305		CIT Group Home Equity Loan Trust	6.390	12/25/30		121
			Series - 2002 2 (Class MF2)
	13,653		CIT Group Home Equity Loan Trust	6.830	06/25/33		1
			Series - 2002 2 (Class BF)
	17,654,502		Citicorp Mortgage Securities, Inc	5.710	07/25/36		17,865
			Series - 2006 1 (Class A3)
	6,346,729		Citicorp Mortgage Securities, Inc	5.560	09/25/36		6,411
			Series - 2006 2 (Class A3)
	6,570,000	i	Countrywide Asset-Backed Certificates	5.680	10/25/46		6,272
			Series - 2006 15 (Class A2)
	669,180	i	Countrywide Home Equity Loan Trust	0.480	02/15/29		368
			Series - 2004 B (Class 1A)
	4,600,909	g	Credit-Based Asset Servicing and Securitization LLC	6.160	12/25/36		4,540
			Series - 2007 MX1 (Class A1)
	23,934,003	g	Flagstar Home Equity Loan Trust	5.780	01/25/35		20,291
			Series - 2007 1A (Class AF3)
	2,865,000	g	Ford Credit Floorplan Master Owner Trust	4.640	02/15/17		3,083
			Series - 2010 3 (Class B)
	1,000,000	g	GE Equipment Midticket LLC	1.470	07/14/15		1,000
			Series - 2010 1 (Class A4)
	3,080,875		GMAC Commercial Mortgage Securities, Inc	5.590	10/25/29		2,857
			Series - 2006 HLTV (Class A3)
	2,600,000		GMAC Commercial Mortgage Securities, Inc	5.810	10/25/29		1,744
			Series - 2006 HLTV (Class A4)
	5,000,000	g	Hertz Vehicle Financing LLC	4.260	03/25/14		5,246
			Series - 2009 2A (Class A1)
	5,500,000	g	Hertz Vehicle Financing LLC	5.290	03/25/16		6,071
			Series - 2009 2A (Class A2)
	1,442,125		HFC Home Equity Loan Asset Backed Certificates	5.910	03/20/36		1,455
			Series - 2007 1 (Class A1F)
	2,542,251	i	Morgan Stanley ABS Capital I	0.270	01/25/37		2,505
			Series - 2007 HE2 (Class A2A)
	8,025,000		Renaissance Home Equity Loan Trust	5.590	11/25/36		4,443
			Series - 2006 3 (Class AF3)
	10,599,143	i	Residential Asset Mortgage Products, Inc	0.880	11/25/34		9,391
			Series - 2004 RS11 (Class M1)
	587,462	i	Residential Asset Securities Corp	6.490	10/25/30		509
			Series - 2001 KS2 (Class AI6)

302

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
$	5,085,785		Residential Funding Mortgage Securities II, Inc	5.520%	04/25/21	$	4,984
			Series - 2006 HI5 (Class A2)
	13,500,000		Residential Funding Mortgage Securities II, Inc	5.500	08/25/25		11,164
			Series - 2006 HI5 (Class A3)
	4,542,340		Residential Funding Mortgage Securities II, Inc	5.450	08/25/34		3,416
			Series - 2005 HI1 (Class A5)
	1,652,295		Residential Funding Mortgage Securities II, Inc	5.750	02/25/36		1,641
			Series - 2006 HI2 (Class A2)
	603,354		Residential Funding Mortgage Securities II, Inc	5.950	02/25/36		599
			Series - 2006 HI3 (Class A2)
	6,000,000		Residential Funding Mortgage Securities II, Inc	5.960	02/25/36		5,359
			Series - 2006 HI3 (Class A3)
	2,500,000		Residential Funding Mortgage Securities II, Inc	6.010	02/25/36		1,438
			Series - 2006 HI1 (Class M1)
	350,000		Residential Funding Mortgage Securities II, Inc	6.060	02/25/36		119
			Series - 2006 HI1 (Class M2)
	30,000,000		Residential Funding Mortgage Securities II, Inc	5.440	09/25/36		25,214
			Series - 2006 HI4 (Class A3)
	3,005,721		Residential Funding Mortgage Securities II, Inc	5.450	09/25/36		2,997
			Series - 2006 HI4 (Class A2)
	4,365,425	i	Securitized Asset Backed Receivables LLC Trust	0.410	03/25/36		4,148
			Series - 2006 NC2 (Class A2)
	1,275,000	g	Vornado DP LLC	4.000	09/13/28		1,312
			Series - 2010 VNO (Class A2FX)
	1,561,706	g,m	Wachovia Amortization Controlled Heloc NIM	5.680	08/12/47		1,265
			Series - 2006 N1 (Class N1)
	3,326,151	g,i	Wachovia Loan Trust	0.620	05/25/35		2,028
			Series - 2005 SD1 (Class A)
	3,867,814	i	Wells Fargo Home Equity Trust	0.400	07/25/36		3,579
			Series - 2006 2 (Class A3)
	8,000,000		World Financial Network Credit Card Master Trust	3.790	05/15/16		8,295
			Series - 2009 B (Class A)
			TOTAL ASSET BACKED				201,891
OTHER MORTGAGE BACKED - 3.9%
	6,410,000		Banc of America Commercial Mortgage, Inc	5.360	10/10/45		6,735
			Series - 2006 6 (Class A4)
	9,773,000	i	Banc of America Commercial Mortgage, Inc	5.870	04/10/49		10,001
			Series - 2007 2 (Class A4)
	385,415		Bank of America Alternative Loan Trust	5.500	09/25/19		400
			Series - 2004 8 (Class 3A1)
	3,570,153		Bear Stearns Commercial Mortgage Securities	5.200	12/11/38		3,769
			Series - 2006 PW14 (Class A4)
	4,000,000	i	Bear Stearns Commercial Mortgage Securities	5.620	03/11/39		4,415
			Series - 2006 PW11 (Class A4)
	7,525,000		Bear Stearns Commercial Mortgage Securities	4.670	06/11/41		8,019
			Series - 2005 PWR8 (Class A4)
	9,420,000	i	Bear Stearns Commercial Mortgage Securities	5.470	06/11/41		10,353
			Series - 2004 PWR4 (Class A3)
	6,800,000	i	Bear Stearns Commercial Mortgage Securities	5.580	09/11/41		6,733
			Series - 2006 PW13 (Class AM)
	8,000,000		Bear Stearns Commercial Mortgage Securities	5.540	10/12/41		8,830
			Series - 2006 T24 (Class A4)

303

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
$	725,000	i	Bear Stearns Commercial Mortgage Securities	4.980%	07/11/42	$	788
			Series - 2004 PWR5 (Class A5)
	10,445,000	i	Bear Stearns Commercial Mortgage Securities	4.750	02/13/46		11,126
			Series - 2004 T16 (Class A6)
	8,540,000	i	Bear Stearns Commercial Mortgage Securities	5.690	06/11/50		9,219
			Series - 2007 PW17 (Class A4)
	9,150,000		Bear Stearns Commercial Mortgage Securities	5.700	06/11/50		9,847
			Series - 2007 PW18 (Class A4)
	6,225,000		Chase Mortgage Finance Corp	5.500	10/25/35		6,320
			Series - 2005 S2 (Class A24)
	6,792,500		Citigroup, Inc	5.320	12/11/49		7,040
			Series - 2007 CD4 (Class A4)
	17,274,000	i	Commercial Mortgage Pass Through Certificates	6.010	12/10/49		18,803
			Series - 2007 C9 (Class A4)
	7,192,394		Countrywide Alternative Loan Trust	5.500	08/25/16		6,319
			Series - 2004 30CB (Class 1A15)
	4,354,975		Countrywide Home Loan Mortgage Pass Through Trust	5.250	09/25/35		4,461
			Series - 2005 17 (Class 1A10)
	3,420,997		Countrywide Home Loan Mortgage Pass Through Trust	5.500	09/25/35		3,413
			Series - 2005 J3 (Class 1A1)
	14,723,651	g,i	Credit Suisse Mortgage Capital Certificates	0.440	04/15/22		12,988
			Series - 2007 TF2A (Class A1)
			Credit Suisse/Morgan Stanley Commercial Mortgage
	3,995,675	g,i	Certificate	0.450	05/15/23		3,832
			Series - 2006 HC1A (Class A1)
	4,415,000		CS First Boston Mortgage Securities Corp	3.940	05/15/38		4,638
			Series - 2003 C3 (Class A5)
	3,700,000		CS First Boston Mortgage Securities Corp	4.050	05/15/38		3,764
			Series - 2003 C3 (Class B)
	9,863,000	i	CS First Boston Mortgage Securities Corp	5.100	08/15/38		10,684
			Series - 2005 C5 (Class A4)
	2,710,000	i	CS First Boston Mortgage Securities Corp	5.100	08/15/38		2,458
			Series - 2005 C5 (Class AJ)
	7,403,647		Federal National Mortgage Association (FNMA)	4.500	03/25/33		7,931
			Series - 2005 95 (Class LN)
	1,186,781		First Horizon Asset Securities, Inc	5.500	11/25/33		1,216
			Series - 2003 9 (Class 1A4)
	6,000,000		GMAC Commercial Mortgage Securities, Inc	5.020	04/10/40		6,514
			Series - 2003 C3 (Class A4)
	7,813,186	i	GMAC Mortgage Corp Loan Trust	4.570	10/19/33		7,922
			Series - 2003 AR1 (Class A5)
	8,240,000	i	Greenwich Capital Commercial Funding Corp	5.890	07/10/38		8,212
			Series - 2006 GG7 (Class AM)
	5,537,800	i	Greenwich Capital Commercial Funding Corp	6.080	07/10/38		6,068
			Series - 2006 GG7 (Class A4)
	15,180,000		Greenwich Capital Commercial Funding Corp	5.440	03/10/39		16,001
			Series - 2007 GG9 (Class A4)
	4,425,000		Greenwich Capital Commercial Funding Corp	5.480	03/10/39		4,085
			Series - 2007 GG9 (Class AM)
	14,725,000		Greenwich Capital Commercial Funding Corp	5.740	12/10/49		15,410
			Series - 2007 GG11 (Class A4)
	6,410,000	i	GS Mortgage Securities Corp II	5.550	04/10/38		6,902
			Series - 2006 GG6 (Class A4)

304

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
$	9,300,000	i	GS Mortgage Securities Corp II	5.620%	04/10/38	$	9,114
			Series - 2006 GG6 (Class AM)
	16,615,000		GS Mortgage Securities Corp II	5.560	11/10/39		17,697
			Series - 2006 GG8 (Class A4)
	3,625,012	i	GSR Mortgage Loan Trust	4.920	01/25/36		3,498
			Series - 2006 AR1 (Class 2A2)
	4,700,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	0.440	02/15/20		4,212
			Series - 2006 FL1A (Class A2)
	4,650,000	g	JP Morgan Chase Commercial Mortgage Securities Corp	5.630	12/05/27		5,299
			Series - 2009 IWST (Class A2)
	11,000,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.380	07/12/37		11,600
			Series - 2002 C1 (Class A3)
	14,695,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.340	05/15/47		15,283
			Series - 2006 LDP9 (Class A3)
	5,102,186		JP Morgan Chase Commercial Mortgage Securities Corp	5.440	06/12/47		5,348
			Series - 2007 CB18 (Class A4)
	10,400,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	5.820	06/15/49		10,746
			Series - 2007 LD11 (Class A4)
	6,687,340	i	JP Morgan Mortgage Trust	4.310	04/25/35		6,753
			Series - 2005 A2 (Class 5A1)
	7,799,000		LB-UBS Commercial Mortgage Trust	4.740	02/15/30		8,332
			Series - 2005 C1 (Class A4)
	7,500,000	i	LB-UBS Commercial Mortgage Trust	5.150	04/15/30		8,018
			Series - 2005 C2 (Class A5)
	3,160,000		LB-UBS Commercial Mortgage Trust	4.390	03/15/32		3,350
			Series - 2003 C1 (Class A4)
	17,500,000		LB-UBS Commercial Mortgage Trust	5.420	02/15/40		18,437
			Series - 2007 C1 (Class A4)
	12,325,000		LB-UBS Commercial Mortgage Trust	5.430	02/15/40		12,892
			Series - 2007 C2 (Class A3)
	2,594,000	i	LB-UBS Commercial Mortgage Trust	5.860	07/15/40		2,706
			Series - 2007 C6 (Class A4)
	3,729,128	i	Merrill Lynch Mortgage Trust	5.110	07/12/38		3,780
			Series - 2005 CIP1 (Class AM)
	2,500,000	i	Merrill Lynch Mortgage Trust	5.840	05/12/39		2,728
			Series - 2006 C1 (Class A4)
	4,700,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	5.590	02/12/39		5,205
			Series - 2006 1 (Class A4)
	5,670,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	6.160	08/12/49		5,407
			Series - 2007 8 (Class AM)
	12,565,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	5.170	12/12/49		13,015
			Series - 2006 4 (Class A3)
	1,578,533		Morgan Stanley Capital I	4.690	06/13/41		1,583
			Series - 2004 T15 (Class A2)
	9,930,000	i	Morgan Stanley Capital I	5.270	06/13/41		10,825
			Series - 2004 T15 (Class A4)
	8,712,000		Morgan Stanley Capital I	5.170	01/14/42		9,416
			Series - 2005 HQ5 (Class A4)
	7,500,000	i	Morgan Stanley Capital I	5.940	10/15/42		8,316
			Series - 2006 IQ11 (Class A4)
	13,200,000	i	Morgan Stanley Capital I	5.450	02/12/44		13,769
			Series - 2007 HQ11 (Class A4)
	6,710,000		Morgan Stanley Capital I	5.360	03/15/44		6,977
			Series - 2007 IQ13 (Class A4)

305

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
$	4,587,000	i	Morgan Stanley Capital I	5.730%	07/12/44	$	5,070
			Series - 2006 HQ9 (Class A4)
	3,075,000	i	Morgan Stanley Capital I	5.540	11/12/49		3,061
			Series - 2007 T25 (Class AM)
	3,075,000		Morgan Stanley Capital I	4.770	07/15/56		2,676
			Series - 0 IQ9 (Class AJ)
	2,699,956	i	Structured Adjustable Rate Mortgage Loan Trust	0.640	03/25/35		2,618
			Series - 2005 6XS (Class A3)
	2,955,037	i	Structured Adjustable Rate Mortgage Loan Trust	5.750	07/25/36		2,979
			Series - 2006 6 (Class 2A1)
	3,165,000	i	Wachovia Bank Commercial Mortgage Trust	5.530	12/15/44		2,865
			Series - 2005 C22 (Class AJ)
	6,125,000	i	Wachovia Bank Commercial Mortgage Trust	6.100	02/15/51		6,395
			Series - 2007 C33 (Class A4)
			TOTAL OTHER MORTGAGE BACKED				505,186
			TOTAL STRUCTURED ASSETS				707,077
			(Cost $676,656)
			TOTAL BONDS				12,248,978
			(Cost $11,628,306)

SHARES			COMPANY
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	470,597	*	Federal Home Loan Mortgage Corp (FHLMC)	8.380	12/30/49	202
	1,527,061	*	Federal National Mortgage Association (FNMA)	8.250	12/30/49	665
			TOTAL BANKS			867
			TOTAL PREFERRED STOCKS			867
			(Cost $49,941)
TIAA-CREF MUTUAL FUND- 0.0%
	564,078	a	TIAA-CREF High-Yield Fund			5,494
			TOTAL TIAA-CREF MUTUAL FUND			5,494
			(Cost $5,220)

PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 18.4%
GOVERNMENT AGENCY DEBT - 18.4%
		Federal Home Loan Bank (FHLB)
$	50,000,000	FHLB	10/01/10	50,000
	31,279,000	FHLB	10/04/10	31,279
	50,000,000	FHLB	10/05/10	49,999
	50,000,000	FHLB	10/06/10	49,999
	50,000,000	FHLB	10/07/10	49,999
	50,000,000	FHLB	10/08/10	49,999
	842,486,000	FHLB	10/13/10	842,454
	50,000,000	FHLB	10/14/10	49,998
	44,800,000	FHLB	10/15/10	44,797
	40,000,000	FHLB	10/18/10	39,998

306

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
$	51,364,000		FHLB		10/20/10	$	51,360
	35,085,000		FHLB		10/21/10		35,083
	22,401,000		FHLB		10/22/10		22,399
	29,441,000		FHLB		10/29/10		29,437
	50,000,000		FHLB		11/02/10		49,995
	71,941,000		FHLB		11/03/10		71,931
	14,000,000		FHLB		11/04/10		13,998
	38,127,000		FHLB		11/05/10		38,123
	10,700,000		FHLB		11/12/10		10,698
	50,000,000		FHLB		11/15/10		49,993
	14,000,000		FHLB		11/19/10		13,998
	41,692,000		FHLB		11/26/10		41,684
			Federal Home Loan Mortgage Corp (FHLMC)
	19,700,000		FHLMC		10/04/10		19,700
	25,858,000		FHLMC		10/12/10		25,857
	60,000,000		FHLMC		10/13/10		59,997
	22,500,000		FHLMC		10/20/10		22,498
	99,372,000		FHLMC		10/25/10		99,363
	25,000,000		FHLMC		10/26/10		24,997
	36,052,000		FHLMC		11/16/10		36,044
			Federal National Mortgage Association (FNMA)
	39,018,000		FNMA		10/13/10		39,016
	17,000,000		FNMA		10/18/10		16,999
	11,421,000		FNMA		10/20/10		11,420
	25,990,000		FNMA		10/25/10		25,987
	25,000,000		FNMA		10/27/10		24,997
	16,558,000		FNMA		10/28/10		16,556
	38,990,000		FNMA		11/03/10		38,984
	50,000,000		FNMA		11/08/10		49,994
	50,000,000		FNMA		11/09/10		49,992
	50,000,000		FNMA		11/17/10		49,990
			TOTAL GOVERNMENT AGENCY DEBT				2,299,612
			TOTAL SHORT-TERM INVESTMENTS				2,299,612
			(Cost $2,299,612)
			TOTAL INVESTMENTS - 116.4%				14,571,670
			(Cost $13,999,822)
			OTHER ASSETS & LIABILITIES, NET - (16.4)%				(2,054,756	)
			NET ASSETS - 100.0%			$	12,516,914
		*	Non-income producing.
		^	Amount represents less than $1,000.
		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, 2010 the value of these securities amounted to $655,100 or 5.23% of net assets.
		i	Floating or variable rate security. Coupon rate reflects the rate at period end.
		j	Zero coupon
		m	Indicates a security that has been deemed illiquid.
		n	In default
		o	Payment in Kind Bond
			Cost amounts are in thousands.

307

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND
INFLATION-LINKED BOND
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2010

PRINCIPAL			ISSUER		VALUE (000)
GOVERNMENT BONDS - 99.4%
U.S. TREASURY SECURITIES - 99.4%
		k	United States Treasury Inflation Indexed Bonds
$	101,224,322		3.380%, 01/15/12		$	106,001
	227,251,884		2.000%, 04/15/12			235,135
	373,907,771		3.000%, 07/15/12			397,043
	183,439,826		0.630%, 04/15/13			188,355
	343,167,635		1.880%, 07/15/13			364,723
	357,907,665		2.000%, 01/15/14			383,856
	227,967,769		1.250%, 04/15/14			239,847
	329,824,850		2.000%, 07/15/14			356,726
	326,452,010		1.630%, 01/15/15			348,870
	169,006,320		0.500%, 04/15/15			173,575
	284,239,952		1.880%, 07/15/15			309,000
	277,293,605		2.000%, 01/15/16			303,897
	280,213,808		2.500%, 07/15/16			317,342
	239,786,295		2.380%, 01/15/17			270,284
	216,687,280		2.630%, 07/15/17			249,834
	222,748,992		1.630%, 01/15/18			241,665
	209,881,524		1.380%, 07/15/18			224,508
	217,807,590		2.130%, 01/15/19			245,204
	225,647,630		1.880%, 07/15/19			250,116
	256,271,730		1.380%, 01/15/20			272,349
	148,478,015		1.250%, 07/15/20			155,798
	420,135,618		2.380%, 01/15/25			483,122
	271,115,048		2.000%, 01/15/26			298,121
	221,290,935		2.380%, 01/15/27			255,435
	218,638,464		1.750%, 01/15/28			231,740
	273,657,398		3.630%, 04/15/28			366,038
	210,598,108		2.500%, 01/15/29			248,440
	326,087,024		3.880%, 04/15/29			453,465
	85,066,517		3.380%, 04/15/32			114,880
	221,045,648		2.130%, 02/15/40			247,001
			TOTAL U.S. TREASURY SECURITIES			8,332,370
			TOTAL GOVERNMENT BONDS
			(Cost $7,634,180)			8,332,370
SHORT-TERM INVESTMENTS - 0.0%
GOVERNMENT AGENCY DEBT - 0.0%
	4,000,000		Federal Home Loan Bank	10/01/10		4,000
						4,000
			TOTAL SHORT-TERM INVESTMENTS			4,000
			(Cost $4,000)
			TOTAL INVESTMENTS - 99.4%		$	8,336,370
			(Cost $7,638,180)
			OTHER ASSETS AND LIABILITIES, NET - 0.6%			46,935
			NET ASSETS - 100.0%		$	8,383,305
			____________________

k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
	Cost amounts are in thousands.

308

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND
SOCIAL CHOICE ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2010

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
BONDS - 38.0%
CORPORATE BONDS - 10.3%
AUTOMOBILES & COMPONENTS - 0.1%
$	2,350,000		BorgWarner, Inc	4.630	%	09/15/20	$	2,386
	5,000,000	g	Harley-Davidson Funding Corp	6.800		06/15/18		5,436
	3,250,000		Johnson Controls, Inc	5.000		03/30/20		3,572
			TOTAL AUTOMOBILES & COMPONENTS					11,394
BANKS - 2.1%
	3,400,000		Bank of New York Mellon Corp	4.300		05/15/14		3,733
	5,000,000		Bank of New York Mellon Corp	3.100		01/15/15		5,281
	5,000,000		Bank of New York Mellon Corp	2.950		06/18/15		5,258
	2,675,000		Bank of New York Mellon Corp	5.450		05/15/19		3,122
	5,000,000		BB&T Corp	3.380		09/25/13		5,249
	5,000,000		BB&T Corp	3.850		07/27/27		5,240
	5,000,000		City National Capital Trust I	9.630		02/01/40		5,194
	6,900,000		Comerica, Inc	3.000		09/16/15		6,984
	8,800,000	g	Depfa ACS Bank	5.130		03/16/37		6,500
	2,375,000		Discover Bank	7.000		04/15/20		2,584
	5,000,000		First Niagara Financial Group, Inc	6.750		03/19/20		5,519
	5,000,000	i	First Tennessee Bank NA	0.520		02/14/11		4,991
	3,000,000		First Union National Bank of Florida	6.180		02/15/36		3,287
	4,500,000		KeyBank NA	3.200		06/15/12		4,704
	1,500,000		M&I Marshall & Ilsley Bank	5.300		09/08/11		1,506
	400,000		Manufacturers & Traders Trust Co	6.630		12/04/17		467
	3,612,000	i	Manufacturers & Traders Trust Co	5.590		12/28/20		3,503
	6,076,000	i	Manufacturers & Traders Trust Co	5.630		12/01/21		5,883
	5,000,000		Mercantile Bankshares Corp	4.630		04/15/13		5,219
	1,250,000		Mercantile-Safe Deposit & Trust Co	5.700		11/15/11		1,307
	6,100,000		Northern Trust Corp	4.630		05/01/14		6,764
	5,000,000		PNC Funding Corp	3.630		02/08/15		5,278
	5,000,000		PNC Funding Corp	5.130		02/08/20		5,413
	4,000,000		Regions Bank	3.250		12/09/11		4,130
	4,875,000		Regions Financial Corp	4.880		04/26/13		4,934
	5,000,000		Regions Financial Corp	7.750		11/10/14		5,416
	3,875,000		Regions Financial Corp	5.750		06/15/15		3,942
	5,000,000		Silicon Valley Bank	5.700		06/01/12		5,205
	8,050,000		State Street Corp	2.150		04/30/12		8,258
	3,000,000		State Street Corp	4.300		05/30/14		3,298
	4,000,000		SVB Financial Group	5.380		09/15/20		4,063
	4,900,000		US Bancorp	2.000		06/14/13		5,016
	3,000,000		US Bancorp	4.950		10/30/14		3,319
	5,000,000		US Bancorp	2.880		11/20/14		5,229

309

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	10,000,000		US Central Federal Credit Union	1.900	%	10/19/12	$	10,257
	5,000,000		Webster Bank	5.880		01/15/13		5,112
	5,000,000		Wells Fargo & Co	2.130		06/15/12		5,139
	5,000,000		Wells Fargo & Co	3.750		10/01/14		5,298
	5,000,000		Wells Fargo & Co	4.750		02/09/15		5,355
	2,475,000		Wells Fargo & Co	3.630		04/15/15		2,624
	3,100,000		Wells Fargo & Co	5.630		12/11/17		3,531
	5,000,000		Western Corporate Federal Credit Union	1.750		11/02/12		5,113
	4,000,000		Zions Bancorporation	7.750		09/23/14		4,238
			TOTAL BANKS					202,463
CAPITAL GOODS - 0.3%
	1,800,000		Deere & Co	5.380		10/16/29		2,002
	4,340,000		Deere & Co	8.100		05/15/30		6,077
	2,625,000		Pall Corp	5.000		06/15/20		2,849
	2,000,000		Reliance Steel & Aluminum Co	6.850		11/15/36		2,002
	5,000,000		Timken Co	6.000		09/15/14		5,560
	4,900,000		Valmont Industries, Inc	6.630		04/20/20		5,048
			TOTAL CAPITAL GOODS					23,538
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	5,000,000		Howard Hughes Medical Institute	3.450		09/01/14		5,397
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					5,397
CONSUMER DURABLES & APPAREL - 0.1%
	4,000,000		Leggett & Platt, Inc	4.700		04/01/13		4,263
	3,150,000		Masco Corp	7.130		03/15/20		3,227
	2,500,000		Whirlpool Corp	8.000		05/01/12		2,724
	1,100,000		Whirlpool Corp	8.600		05/01/14		1,310
			TOTAL CONSUMER DURABLES & APPAREL					11,524
CONSUMER SERVICES - 0.3%
	2,000,000		American National Red Cross	5.390		11/15/12		2,030
	4,000,000		American National Red Cross	5.570		11/15/17		4,004
	5,000,000		Andrew W Mellon Foundation	3.950		08/01/14		5,471
	2,500,000		Dun & Bradstreet Corp	5.500		03/15/11		2,554
	1,250,000		McDonald’s Corp	5.000		02/01/19		1,446
	4,000,000		McDonald’s Corp	3.500		07/15/20		4,110
	5,000,000		Nature Conservancy	6.300		07/01/19		5,682
	5,145,000		Salvation Army	5.640		09/01/26		5,327
			TOTAL CONSUMER SERVICES					30,624
DIVERSIFIED FINANCIALS - 0.6%
	1,675,000		American Express Co	7.000		03/19/18		2,017
	3,325,000		American Express Co	8.130		05/20/19		4,294
	2,200,000		Ameriprise Financial, Inc	5.300		03/15/20		2,431
	1,250,000	g	Canadian Imperial Bank of Commerce	2.000		02/04/13		1,282
	5,000,000		Capital One Bank USA NA	8.800		07/15/19		6,390
	3,500,000		Capital One Capital V	8.880		05/15/40		3,675
	4,000,000		Capital One Financial Corp	5.700		09/15/11		4,169
	4,700,000	g	CDP Financial, Inc	3.000		11/25/14		4,881

310

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,000,000	g	Corestates Capital Trust I	8.000	%	12/15/26	$	3,088
	5,900,000		Ford Motor Credit Co LLC	7.000		04/15/15		6,305
	1,940,000		Franklin Resources, Inc	3.130		05/20/15		2,044
	7,000,000		NASDAQ OMX Group, Inc	2.500		08/15/13		6,904
	4,500,000		New York Community Bank	3.000		12/16/11		4,634
	2,500,000	g	Principal Life Global Funding I	5.130		10/15/13		2,720
	2,500,000		USB Capital XIII Trust	6.630		12/15/39		2,557
			TOTAL DIVERSIFIED FINANCIALS					57,391
ENERGY - 0.7%
	5,000,000		Apache Corp	5.250		04/15/13		5,450
	3,000,000		Apache Corp	6.000		01/15/37		3,402
	2,500,000		Apache Corp	5.100		09/01/40		2,515
	1,750,000		Chesapeake Energy Corp	6.500		08/15/17		1,816
	1,500,000		Chesapeake Energy Corp	6.630		08/15/20		1,568
	2,500,000		Devon Energy Corp	6.300		01/15/19		3,025
	5,000,000		Diamond Offshore Drilling, Inc	4.880		07/01/15		5,561
	5,000,000		EOG Resources, Inc	2.950		06/01/15		5,243
	3,000,000		EOG Resources, Inc	4.400		06/01/20		3,259
	5,000,000		EQT Corp	8.130		06/01/19		6,199
	2,500,000		Hess Corp	8.130		02/15/19		3,287
	4,000,000		Hess Corp	6.000		01/15/40		4,395
	2,000,000		Hess Corp	5.600		02/15/41		2,087
	1,430,000		Marathon Oil Corp	6.500		02/15/14		1,642
	1,678,000		Marathon Oil Corp	5.900		03/15/18		1,937
	2,500,000		Noble Energy, Inc	8.250		03/01/19		3,252
	2,272,686		Rowan Cos, Inc	3.530		05/01/20		2,341
	5,829,028		Rowan Cos, Inc	3.160		07/15/21		5,945
	5,000,000		SEACOR Holdings, Inc	7.380		10/01/19		5,452
	2,650,000		Weatherford Bermuda Holdings Ltd	5.130		09/15/20		2,709
			TOTAL ENERGY					71,085
FOOD & STAPLES RETAILING - 0.1%
	3,000,000		CVS Caremark Corp	5.750		06/01/17		3,443
	1,047,787	g	CVS Caremark Corp	5.300		01/11/27		1,078
	1,000,000		Safeway, Inc	5.000		08/15/19		1,098
	3,100,000		Safeway, Inc	3.950		08/15/20		3,117
	2,500,000		SYSCO Corp	6.630		03/17/39		3,209
			TOTAL FOOD & STAPLES RETAILING					11,945
FOOD BEVERAGE & TOBACCO - 0.3%
	1,500,000		Coca-Cola Enterprises, Inc	4.500		08/15/19		1,678
	5,000,000		General Mills, Inc	5.650		02/15/19		5,856
	1,600,000	g	HJ Heinz Finance Co	7.130		08/01/39		2,032
	2,500,000		Kellogg Co	4.150		11/15/19		2,713
	5,000,000		Kraft Foods, Inc	2.630		05/08/13		5,182
	5,000,000		Kraft Foods, Inc	6.500		02/09/40		5,854
	2,000,000		PepsiCo, Inc	7.900		11/01/18		2,665
	2,500,000		PepsiCo, Inc	5.500		01/15/40		2,863
			TOTAL FOOD BEVERAGE & TOBACCO					28,843

311

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 0.5%
$	4,000,000		Becton Dickinson & Co	5.000	%	05/15/19	$	4,580
	2,000,000		Becton Dickinson & Co	6.000		05/15/39		2,425
	3,500,000		Medtronic, Inc	4.750		09/15/15		3,993
	2,650,000		Medtronic, Inc	4.450		03/15/20		2,902
	2,500,000		Medtronic, Inc	6.500		03/15/39		3,165
	5,000,000		Providence Health & Services	5.050		10/01/14		5,402
	1,500,000		Quest Diagnostics, Inc	6.400		07/01/17		1,729
	3,750,000		Quest Diagnostics, Inc	4.750		01/30/20		3,931
	5,000,000		St. Jude Medical, Inc	4.880		07/15/19		5,649
	2,165,000		Thermo Fisher Scientific, Inc	2.150		12/28/12		2,207
	2,000,000		Thermo Fisher Scientific, Inc	3.200		05/01/15		2,108
	1,750,000		Thermo Fisher Scientific, Inc	5.000		06/01/15		1,977
	7,697,000		Zimmer Holdings, Inc	5.750		11/30/39		8,527
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					48,595
INSURANCE - 0.6%
	2,500,000		Aflac, Inc	8.500		05/15/19		3,181
	2,500,000		Aflac, Inc	6.900		12/17/39		2,754
	2,400,000		AON Corp	3.500		09/30/15		2,445
	3,500,000		Cincinnati Financial Corp	6.130		11/01/34		3,467
	5,000,000		Hartford Financial Services Group, Inc	4.000		03/30/15		5,116
	2,000,000		Hartford Financial Services Group, Inc	6.630		03/30/40		2,006
	2,500,000	i	Hartford Life Global Funding Trusts	0.390		03/15/11		2,494
	5,000,000	g	Health Care Service Corp	7.750		06/15/11		5,094
	4,150,000		Lincoln National Corp	4.300		06/15/15		4,400
	2,000,000		Markel Corp	6.800		02/15/13		2,149
	2,500,000		Markel Corp	7.130		09/30/19		2,829
	5,300,000		Markel Corp	7.350		08/15/34		5,782
	3,000,000		Progressive Corp	6.380		01/15/12		3,174
	5,000,000		Protective Life Corp	7.380		10/15/19		5,628
	2,000,000		Travelers Cos, Inc	5.900		06/02/19		2,327
	2,000,000		Unum Group	5.630		09/15/20		2,055
	750,000		WR Berkley Corp	5.380		09/15/20		766
			TOTAL INSURANCE					55,667
MATERIALS - 0.6%
	2,500,000		3M Co	6.380		02/15/28		3,124
	3,335,000		Air Products & Chemicals, Inc	4.380		08/21/19		3,551
	2,800,000		Airgas, Inc	4.500		09/15/14		2,990
	3,900,000		Alcoa, Inc	6.150		08/15/20		4,010
	1,000,000		Ball Corp	6.750		09/15/20		1,060
	1,144,000		Bemis Co, Inc	4.880		04/01/12		1,195
	1,000,000		Bemis Co, Inc	5.650		08/01/14		1,130
	4,000,000		Bemis Co, Inc	6.800		08/01/19		4,770
	965,000		Clorox Co	5.450		10/15/12		1,049
	2,300,000		Eastman Chemical Co	5.500		11/15/19		2,550
	2,650,000		International Paper Co	7.300		11/15/39		2,967
	5,000,000		MeadWestvaco Corp	7.380		09/01/19		5,509
	5,000,000		Praxair, Inc	4.380		03/31/14		5,497
	2,500,000		Praxair, Inc	5.250		11/15/14		2,866
	5,000,000		Praxair, Inc	4.500		08/15/19		5,512
	2,400,000		United States Steel Corp	7.380		04/01/20		2,502

312

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,500,000		Vulcan Materials Co	6.300	%	06/15/13	$	2,716
			TOTAL MATERIALS					52,998
MEDIA - 0.4%
	4,900,000		DIRECTV Holdings LLC	5.200		03/15/20		5,304
	3,750,000		Discovery Communications LLC	5.050		06/01/20		4,081
	3,500,000		Time Warner Cable, Inc	3.500		02/01/15		3,674
	3,200,000		Time Warner Cable, Inc	8.750		02/14/19		4,226
	3,900,000		Time Warner Cable, Inc	8.250		04/01/19		5,035
	5,000,000		Time Warner Cable, Inc	5.000		02/01/20		5,355
	3,500,000		Time Warner Cable, Inc	6.550		05/01/37		3,947
	5,234,000		Time Warner Entertainment Co LP	10.150		05/01/12		5,934
	2,500,000		Viacom, Inc	4.380		09/15/14		2,714
			TOTAL MEDIA					40,270
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.3%
	1,000,000		Abbott Laboratories	3.750		03/15/11		1,015
	3,100,000		Abbott Laboratories	2.700		05/27/15		3,256
	4,900,000		Amgen, Inc	5.750		03/15/40		5,554
	2,000,000		Hospira, Inc	5.600		09/15/40		2,071
	4,600,000		Johnson & Johnson	4.500		09/01/40		4,653
	6,250,000		Life Technologies Corp	3.380		03/01/13		6,430
	4,000,000		Life Technologies Corp	4.400		03/01/15		4,267
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					27,246
REAL ESTATE - 0.4%
	2,400,000	g	BioMed Realty LP	6.130		04/15/20		2,612
	5,000,000		Boston Properties LP	5.880		10/15/19		5,587
	5,000,000		Brandywine Operating Partnership LP	7.500		05/15/15		5,605
	3,500,000	g	Digital Realty Trust LP	4.500		07/15/15		3,613
	1,400,000		Federal Realty Investment Trust	5.900		04/01/20		1,557
	3,400,000		Health Care REIT, Inc	4.700		09/15/17		3,436
	3,000,000		Highwoods Properties, Inc	5.850		03/15/17		3,086
	1,160,000		Liberty Property LP	7.250		03/15/11		1,187
	1,000,000		Liberty Property LP	4.750		10/01/20		1,007
	1,000,000		ProLogis	7.630		08/15/14		1,081
	1,000,000		ProLogis	7.380		10/30/19		1,009
	2,550,000		Regency Centers LP	7.950		01/15/11		2,593
	3,000,000		Washington Real Estate Investment Trust	5.130		03/15/13		3,116
	4,850,000		Washington Real Estate Investment Trust	4.950		10/01/20		4,865
			TOTAL REAL ESTATE					40,354
RETAILING - 0.3%
	4,900,000		Advance Auto Parts, Inc	5.750		05/01/20		5,285
	5,000,000		AutoZone, Inc	5.750		01/15/15		5,670
	5,000,000		Home Depot, Inc	5.880		12/16/36		5,330
	1,200,000		JC Penney Corp, Inc	5.650		06/01/20		1,223
	1,850,000		Macy’s Retail Holdings, Inc	5.900		12/01/16		1,970
	2,150,000		Staples, Inc	7.750		04/01/11		2,220
	500,000		Staples, Inc	9.750		01/15/14		619
	2,500,000		TJX Cos, Inc	6.950		04/15/19		3,180
			TOTAL RETAILING					25,497

313

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
SOFTWARE & SERVICES - 0.1%
$	5,000,000		Adobe Systems, Inc	3.250	%	02/01/15	$	5,232
	3,550,000		Symantec Corp	2.750		09/15/15		3,584
			TOTAL SOFTWARE & SERVICES					8,816
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	2,500,000		Agilent Technologies, Inc	2.500		07/15/13		2,550
	666,000		Cisco Systems, Inc	2.900		11/17/14		706
	3,000,000		Hewlett-Packard Co	2.950		08/15/12		3,128
	5,000,000		International Business Machines Corp	1.000		08/05/13		5,017
	5,000,000		Xerox Corp	8.250		05/15/14		5,995
	2,500,000		Xerox Corp	4.250		02/15/15		2,684
	2,500,000		Xerox Corp	5.630		12/15/19		2,798
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					22,878
TELECOMMUNICATION SERVICES - 0.1%
	1,265,000		Sprint Capital Corp	8.380		03/15/12		1,354
	3,235,000		Sprint Nextel Corp	6.000		12/01/16		3,195
	2,500,000		Verizon Communications, Inc	4.350		02/15/13		2,696
	1,500,000		Verizon Communications, Inc	6.250		04/01/37		1,695
	1,400,000		Verizon Communications, Inc	6.400		02/15/38		1,619
	1,500,000		Verizon Communications, Inc	8.950		03/01/39		2,199
	1,000,000		Verizon New Jersey, Inc	5.880		01/17/12		1,059
			TOTAL TELECOMMUNICATION SERVICES					13,817
TRANSPORTATION - 0.7%
	1,440,000		CSX Corp	6.150		05/01/37		1,638
	1,900,000		CSX Transportation, Inc	7.820		04/01/11		1,957
	14,550,000		Delta Air Lines, Inc	7.570		11/18/10		14,637
	10,312,000		Delta Air Lines, Inc	7.110		09/18/11		10,776
	5,000,000		Delta Air Lines, Inc	6.420		07/02/12		5,250
	2,500,000		FedEx Corp	7.380		01/15/14		2,945
	2,500,000		Norfolk Southern Corp	5.750		01/15/16		2,893
	5,000,000		Norfolk Southern Corp	5.900		06/15/19		5,945
	2,500,000		Norfolk Southern Corp	5.590		05/17/25		2,769
	4,815,000		Norfolk Southern Corp	5.640		05/17/29		5,290
	60,602	g	Sea-Land Service, Inc	6.600		01/02/11		61
	60,602	g	Sea-Land Service, Inc	6.600		01/02/11		61
	60,602	g	Sea-Land Service, Inc	6.600		01/02/11		61
	2,355,784	g	Southern Capital Corp	5.700		06/30/22		1,661
	5,000,000	g	Southwest Airlines Co	10.500		12/15/11		5,483
	1,360,000		United Parcel Service of America, Inc (Step Bond 8.375%
			until 04/01/20, 7.620% until 04/01/30)	8.380		04/01/30		1,894
			TOTAL TRANSPORTATION					63,321
UTILITIES - 1.4%
	1,875,000		AGL Capital Corp	5.250		08/15/19		1,997
	2,000,000		Atmos Energy Corp	8.500		03/15/19		2,600
	5,000,000		Avista Corp	5.950		06/01/18		5,684

314

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,000,000		Avista Corp	5.130	%	04/01/22	$	1,106
	5,000,000		CenterPoint Energy Houston Electric LLC	7.000		03/01/14		5,899
	2,000,000		Connecticut Light & Power	5.750		03/01/37		2,222
	1,200,000		Connecticut Light & Power Co	5.500		02/01/19		1,375
	3,245,677	g	Great River Energy	5.830		07/01/17		3,642
	5,000,000		Hawaiian Electric Industries, Inc	6.140		08/15/11		5,211
	5,000,000		Idaho Power Co	5.500		04/01/33		5,349
	2,500,000		Idaho Power Co	6.250		10/15/37		2,943
	7,500,000	g	International Transmission Co	4.450		07/15/13		7,996
	1,550,000		Laclede Gas Co	6.500		11/15/10		1,558
	2,000,000		Laclede Gas Co	6.150		06/01/36		2,240
	5,000,000		National Fuel Gas Co	6.500		04/15/18		5,624
	6,000,000		Nevada Power Co	6.650		04/01/36		7,184
	1,000,000		Nevada Power Co	5.380		09/15/40		1,031
	2,000,000		Nicor, Inc	6.580		02/15/28		2,331
	1,750,000		NiSource Finance Corp	10.750		03/15/16		2,312
	5,000,000		Northeast Utilities	5.650		06/01/13		5,417
	1,500,000		Northwest Natural Gas Co	5.620		11/21/23		1,714
	1,600,000		NSTAR Electric Co	5.500		03/15/40		1,820
	5,000,000		Pacific Gas & Electric Co	8.250		10/15/18		6,643
	4,750,000		Pacific Gas & Electric Co	5.800		03/01/37		5,275
	3,750,000		Pacific Gas & Electric Co	5.400		01/15/40		3,956
	3,000,000		Pepco Holdings, Inc	2.700		10/01/15		3,006
	3,850,000		Portland General Electric Co	6.100		04/15/19		4,672
	2,500,000		PPL Electric Utilities Corp	6.250		05/15/39		3,044
	1,000,000		Public Service Electric & Gas Co	5.380		11/01/39		1,100
	2,000,000		Questar Pipeline Co	6.570		09/26/11		2,095
	620,000		San Diego Gas & Electric Co	6.000		06/01/39		753
	1,380,000		San Diego Gas & Electric Co	5.350		05/15/40		1,549
	2,800,000		Southern California Edison Co	6.050		03/15/39		3,371
	5,000,000		Spectra Energy Capital LLC	5.650		03/01/20		5,573
	2,500,000		Tennessee Gas Pipeline Co	8.000		02/01/16		2,975
	3,000,000		Transcontinental Gas Pipe Line Co LLC	6.050		06/15/18		3,530
	5,000,000		Washington Gas Light Co	5.440		08/11/25		5,923
	2,250,000		Williams Partners LP	3.800		02/15/15		2,368
	3,900,000		Williams Partners LP	6.300		04/15/40		4,299
	1,000,000		Wisconsin Power & Light Co	5.000		07/15/19		1,144
			TOTAL UTILITIES					138,531
			TOTAL CORPORATE BONDS					992,194
			(Cost $911,493)
GOVERNMENT BONDS - 25.0%
AGENCY SECURITIES - 3.1%
			Federal Home Loan Bank (FHLB)
	5,500,000		FHLB	5.000		11/17/17		6,515
			Federal Home Loan Mortgage Corp (FHLMC)
	7,780,000		FHLMC	2.500		04/23/14		8,178
	3,000,000		FHLMC	3.500		05/29/13		3,218

315

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,000,000		FHLMC	4.130	%	12/21/12	$	2,153
			Federal National Mortgage Association (FNMA)
	13,500,000		FNMA	3.000		09/16/14		14,433
	10,000,000		FNMA	2.630		11/20/14		10,543
	3,000,000		FNMA	2.500		05/15/14		3,148
	2,000,000		FNMA	1.130		07/30/12		2,022
	6,000,000		FNMA	1.250		08/20/13		6,070
	23,272,307		AMAL Ltd	3.470		08/21/21		24,452
	7,420,795		Cal Dive I- Title XI, Inc	4.930		02/01/27		8,211
	9,524,077		COP I LLC	3.610		12/05/21		10,304
	7,089,202		COP I LLC	3.650		12/05/21		7,343
	2,000,000		European Investment Bank	4.880		02/15/36		2,230
	11,000,000	g,j	FDIC Structured Sale Guarantee	0.000		10/25/12		10,698
	9,414,411		Gate Capital Cayman Two	3.550		06/11/21		9,845
	4,000,000	j	Government Trust Certificate	0.000		04/01/21		2,686
	12,375,000	i	India Government AID Bond	0.570		02/01/27		11,425
	5,000,000	g,j	Overseas Private Investment Corp	0.000		12/10/10		6,211
	4,200,000		Overseas Private Investment Corp	1.900		12/10/11		4,296
	826,086		Overseas Private Investment Corp	5.410		12/15/11		854
	3,850,000	j,m	Overseas Private Investment Corp	0.000		07/12/14		3,858
	4,700,000	j	Overseas Private Investment Corp	0.000		07/12/14		4,988
	3,000,000	j	Overseas Private Investment Corp	0.000		12/14/14		3,301
	6,976,759		Overseas Private Investment Corp	3.420		01/15/15		7,353
	676,839		Overseas Private Investment Corp	3.740		04/15/15		705
	4,351,805		Overseas Private Investment Corp	5.140		12/15/23		4,949
	9,205,211		Overseas Private Investment Corp	4.440		02/27/27		9,832
	9,174,924		Premier Aircraft Leasing	3.580		02/06/22		9,618
	1,050,000		Private Export Funding Corp	4.550		05/15/15		1,189
	10,000,000		Private Export Funding Corp	4.380		03/15/19		11,252
	7,500,000		Private Export Funding Corp	4.300		12/15/21		8,244
	9,322,157		San Clemente Leasing LLC	3.590		08/27/21		10,206
	4,830,723		Tayarra Ltd	3.630		02/15/22		5,074
	4,753,294		Tricahue Leasing LLC	3.500		11/19/21		4,799
	9,000,000		US Department of Housing and Urban Development	5.190		08/01/14		10,351
	5,000,000		US Department of Housing and Urban Development	4.560		08/01/17		5,766
	5,007,000		US Department of Housing and Urban Development	5.380		08/01/18		5,984
	10,467,000		US Department of Housing and Urban Development	4.960		08/01/20		12,283
	9,500,000		US Department of Housing and Urban Development	5.050		08/01/21		10,896
	8,059,515	g	US Trade Funding Corp	4.260		11/15/14		8,521
			TOTAL AGENCY SECURITIES					294,004
FOREIGN GOVERNMENT BONDS - 1.3%
	3,900,000		Canada Government International Bond	2.380		09/10/14		4,086
	10,000,000		Council Of Europe Development Bank	2.750		02/10/15		10,556
	2,750,000		Eksportfinans A/S	5.000		02/14/12		2,911
	6,082,000		Hydro Quebec	8.400		01/15/22		8,841
	5,000,000	g	International Finance Facility for Immunisation	5.000		11/14/11		5,227
	2,850,000		Italy Government International Bond	5.380		06/12/17		3,147
	4,500,000		Kreditanstalt fuer Wiederaufbau	4.000		01/27/20		4,968
	4,000,000		Province of British Columbia Canada	2.850		06/15/15		4,254
	5,000,000		Province of Manitoba Canada	5.000		02/15/12		5,301
	2,000,000		Province of Manitoba Canada	2.130		04/22/13		2,069

316

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,000,000		Province of Nova Scotia Canada	2.380	%	07/21/15	$	5,146
	10,000,000		Province of Ontario Canada	2.630		01/20/12		10,253
	8,700,000		Province of Ontario Canada	4.100		06/16/14		9,557
	8,100,000		Province of Ontario Canada	2.950		02/05/15		8,574
	11,200,000		Province of Ontario Canada	2.700		06/16/15		11,731
	6,000,000		Province of Ontario Canada	4.000		10/07/19		6,477
	5,000,000		Province of Ontario Canada	4.400		04/14/20		5,529
	10,000,000		Province of Quebec Canada	3.500		07/29/20		10,245
	5,000,000		Province of Quebec Canada	7.500		09/15/29		7,285
			TOTAL FOREIGN GOVERNMENT BONDS					126,157
MORTGAGE BACKED - 12.3%
			Federal Home Loan Mortgage Corp (FHLMC)
	5,734,787	i	FHLMC	5.880		04/01/37		6,139
	6,516,550	i	FHLMC	5.560		03/01/37		6,909
	6,271,797	i	FHLMC	5.690		09/01/37		6,694
	3,028,505	i	FHLMC	5.650		08/01/37		3,235
	6,025,522	i	FHLMC	5.740		02/01/37		6,458
	4,056,309	i	FHLMC	5.810		07/01/36		4,283
	3,266,975	i	FHLMC	2.640		02/01/36		3,396
	6,286,647	i	FHLMC	6.000		09/01/36		6,658
	1,594,059	i	FHLMC	3.050		09/01/36		1,668
			Federal Home Loan Mortgage Corp Gold (FGLMC)
	4,706,446		FGLMC	4.500		09/01/35		4,931
	4,839,046		FGLMC	4.500		09/01/35		5,070
	1,712,721		FGLMC	4.500		09/01/35		1,794
	8,835,519		FGLMC	5.000		09/01/35		9,337
	1,203,361		FGLMC	5.000		02/01/36		1,272
	768,777		FGLMC	4.500		12/01/35		805
	1,445,941		FGLMC	5.000		10/01/35		1,528
	1,615,246		FGLMC	6.000		08/01/35		1,743
	1,749,951		FGLMC	6.000		05/01/35		1,910
	1,059,534		FGLMC	6.000		05/01/35		1,152
	1,597,204		FGLMC	6.000		05/01/35		1,739
	569,491		FGLMC	6.000		05/01/35		623
	1,748,374		FGLMC	5.500		06/01/35		1,867
	3,688,257		FGLMC	7.000		05/01/35		4,183
	569,381		FGLMC	6.000		05/01/35		617
	10,715,967		FGLMC	4.500		06/01/39		11,156
	5,709,220		FGLMC	4.000		06/01/39		5,861
	1,824,987		FGLMC	4.500		05/01/39		1,900
	3,435,816		FGLMC	5.000		07/01/39		3,612
	16,000,000		FGLMC	6.000		11/15/40		17,132
	32,000,000		FGLMC	5.500		11/15/40		33,910
	31,000,000		FGLMC	5.000		11/15/40		32,521
	1,713,766		FGLMC	6.000		11/01/38		1,839
	1,703,593		FGLMC	6.500		10/01/36		1,860
	328,852		FGLMC	6.500		05/01/36		359
	16,911,007		FGLMC	5.500		04/01/36		18,054
	2,222,330		FGLMC	6.000		09/01/37		2,402
	7,154,866		FGLMC	5.000		04/01/38		7,565
	4,288,577		FGLMC	6.000		02/01/38		4,677

317

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,137,564		FGLMC	6.500	%	11/01/37	$	2,331
	1,014,722		FGLMC	6.000		05/01/35		1,110
	319,423		FGLMC	4.500		07/01/20		337
	1,363,912		FGLMC	4.500		01/01/20		1,449
	1,716,691		FGLMC	5.000		02/01/19		1,838
	250,301		FGLMC	7.000		10/01/20		281
	2,874,606		FGLMC	4.500		03/01/23		3,027
	2,760,999		FGLMC	4.500		06/01/21		2,927
	10,061,721		FGLMC	4.500		06/01/21		10,668
	1,941,937		FGLMC	5.500		01/01/19		2,101
	458,266		FGLMC	6.000		12/01/17		496
	251,112		FGLMC	6.500		12/01/16		270
	6,957		FGLMC	6.000		03/01/11		7
	3,107,710		FGLMC	4.500		10/01/18		3,301
	5,143,126		FGLMC	4.500		01/01/19		5,428
	4,494,739		FGLMC	4.500		11/01/18		4,774
	3,791,770		FGLMC	4.500		11/01/18		4,027
	9,093,220		FGLMC	7.000		12/01/33		10,313
	7,958,635		FGLMC	5.500		12/01/33		8,546
	3,595,970		FGLMC	5.500		09/01/33		3,859
	9,759,549		FGLMC	5.000		01/01/34		10,341
	1,227,308		FGLMC	5.500		12/01/34		1,314
	1,935,351		FGLMC	6.000		09/01/34		2,110
	3,073,092		FGLMC	5.000		05/01/34		3,251
	4,091,473		FGLMC	5.500		09/01/33		4,391
	4,389,560		FGLMC	4.000		07/01/24		4,589
	19,648		FGLMC	7.000		05/01/23		22
	1,357,413		FGLMC	5.000		04/01/23		1,440
	1,621,489		FGLMC	4.500		09/01/24		1,706
	2,909,821		FGLMC	4.500		07/01/33		3,061
	80,444		FGLMC	8.000		01/01/31		93
	5,000,000		FGLMC	5.000		10/15/25		5,302
			Federal National Mortgage Association (FNMA)
	9,453,428		FNMA	4.000		10/01/35		9,781
	5,794,398		FNMA	5.000		09/01/35		6,209
	8,870,615		FNMA	5.500		10/01/35		9,700
	4,123,251		FNMA	5.000		10/01/35		4,359
	4,307,056		FNMA	5.000		08/01/35		4,553
	58,051		FNMA	7.500		06/01/35		66
	1,571,653		FNMA	5.500		06/01/35		1,694
	2,335,614		FNMA	4.500		08/01/35		2,453
	667,751		FNMA	6.000		07/01/35		725
	3,262,149		FNMA	5.000		02/01/36		3,448
	2,349,689		FNMA	6.000		12/01/36		2,538
	2,125,655		FNMA	6.500		09/01/36		2,328
	1,056,979		FNMA	7.000		02/01/37		1,178
	14,848,560	i	FNMA	5.880		01/01/37		15,913
	1,646,997	i	FNMA	5.900		07/01/36		1,744
	679,567		FNMA	6.500		02/01/36		748
	1,264,931	i	FNMA	5.630		02/01/36		1,332
	3,756,060		FNMA	6.000		03/01/36		4,057
	1,044,475		FNMA	6.500		02/01/36		1,144

318

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,364,656		FNMA	5.500	%	06/01/35	$	2,564
	8,364,346		FNMA	5.500		01/01/35		9,063
	544,150		FNMA	6.000		12/01/34		594
	549,818		FNMA	5.500		03/01/35		595
	2,791,676		FNMA	5.500		01/01/35		3,001
	47,605		FNMA	4.500		09/01/34		50
	53,067		FNMA	4.500		07/01/34		56
	149,696		FNMA	4.500		07/01/34		157
	1,456,298		FNMA	4.500		08/01/34		1,532
	82,385		FNMA	4.500		08/01/34		87
	1,639,667		FNMA	5.500		04/01/35		1,788
	276,596		FNMA	5.500		05/01/35		301
	627,582		FNMA	5.500		05/01/35		678
	2,791,517		FNMA	5.500		06/01/35		3,025
	3,591,249		FNMA	6.000		05/01/35		3,927
	875,344		FNMA	5.500		05/01/35		954
	1,836,457		FNMA	5.500		04/01/35		2,009
	1,890,865		FNMA	5.500		04/01/35		2,070
	3,087,977		FNMA	5.500		05/01/35		3,376
	9,995,768		FNMA	4.500		05/01/35		10,527
	3,772,671		FNMA	4.000		04/01/39		3,913
	12,633,929		FNMA	4.500		02/01/39		13,179
	23,268,515		FNMA	4.500		05/01/39		24,261
	7,192,770		FNMA	4.500		04/01/39		7,500
	4,114,431		FNMA	4.500		02/01/39		4,292
	2,665,486		FNMA	5.500		01/01/39		2,836
	4,275,072		FNMA	4.500		01/01/39		4,459
	2,371,302		FNMA	6.000		01/01/39		2,549
	2,827,298		FNMA	6.000		01/01/39		3,039
	4,722,080		FNMA	4.500		08/01/39		4,924
	30,000,000		FNMA	5.000		11/25/40		31,547
	72,000,000		FNMA	4.500		11/25/40		74,813
	66,000,000		FNMA	6.000		11/25/40		70,807
	30,000,000		FNMA	5.500		11/25/40		31,861
	18,000,000		FNMA	4.000		11/25/40		18,450
	24,555,437		FNMA	4.500		09/01/40		25,599
	10,714,957		FNMA	6.000		09/01/39		11,516
	7,000,000		FNMA	3.500		11/25/40		7,032
	17,639,754		FNMA	4.500		09/01/40		18,390
	3,152,436	i	FNMA	4.930		10/01/38		3,353
	1,764,107		FNMA	6.000		09/01/37		1,945
	2,970,381		FNMA	6.000		09/01/37		3,275
	1,659,711		FNMA	6.500		09/01/37		1,813
	2,282,774		FNMA	6.000		09/01/37		2,516
	2,827,708		FNMA	6.000		09/01/37		3,118
	968,281		FNMA	7.000		04/01/37		1,080
	3,608,634		FNMA	6.500		03/01/37		3,983
	1,165,722		FNMA	6.500		08/01/37		1,285
	820,326		FNMA	6.500		08/01/37		896
	671,290		FNMA	6.500		09/01/37		733
	1,383,571		FNMA	6.500		03/01/38		1,510
	81,259		FNMA	6.500		02/01/38		89

319

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	343,566		FNMA	6.500	%	03/01/38	$	375
	99,771		FNMA	6.500		03/01/38		109
	228,985		FNMA	6.500		01/01/38		250
	456,869		FNMA	6.500		09/01/37		500
	763,452		FNMA	6.500		09/01/37		834
	1,423,280		FNMA	7.000		11/01/37		1,587
	1,231,170	i	FNMA	5.870		10/01/37		1,319
	121,117		FNMA	4.500		03/01/19		129
	343,703		FNMA	6.000		02/01/19		373
	1,151,884		FNMA	4.500		06/01/19		1,223
	510,833		FNMA	4.500		05/01/19		543
	314,632		FNMA	6.000		01/01/19		341
	4,851,012		FNMA	5.500		11/01/18		5,260
	40,445		FNMA	5.500		05/01/18		44
	2,664,797		FNMA	5.000		01/01/19		2,858
	3,075,677		FNMA	5.000		12/01/18		3,282
	1,242,029		FNMA	5.000		03/01/20		1,326
	6,128,806		FNMA	5.000		07/01/23		6,503
	29,244		FNMA	8.000		03/01/23		34
	191,015		FNMA	5.000		01/01/24		203
	4,000,000		FNMA	5.000		10/25/23		4,242
	3,088,466		FNMA	4.500		03/01/23		3,252
	1,514,219		FNMA	5.000		12/01/20		1,615
	546,559		FNMA	4.500		11/01/20		581
	4,070,020		FNMA	5.500		08/01/21		4,385
	1,848,305		FNMA	5.000		03/01/21		1,973
	305,740		FNMA	5.500		04/01/18		331
	844		FNMA	7.500		10/01/11		1
	4,216		FNMA	7.500		10/01/11		4
	46,405		FNMA	5.000		06/01/13		49
	39,395		FNMA	7.000		04/01/12		41
	135		FNMA	7.500		10/01/11		0	^
	1,446		FNMA	8.000		07/01/11		1
	3,524		FNMA	7.500		06/01/11		4
	1,181		FNMA	7.500		09/01/11		1
	1,497		FNMA	7.500		08/01/11		2
	2,660,821		FNMA	4.440		07/01/13		2,841
	758,002		FNMA	6.500		04/01/17		823
	169,241		FNMA	6.500		10/01/16		183
	319,369		FNMA	6.500		02/01/18		347
	1,963,426		FNMA	5.000		12/01/17		2,095
	6,178		FNMA	8.500		11/01/14		7
	1,681,449		FNMA	4.590		05/01/14		1,826
	3,655,629		FNMA	4.020		08/01/13		3,877
	2,970,198		FNMA	4.530		10/01/14		3,235
	4,098,235		FNMA	4.270		06/01/14		4,420
	1,101,506		FNMA	5.000		03/01/34		1,170
	491,157		FNMA	5.000		03/01/34		522
	19,317,066		FNMA	5.000		03/01/34		20,510
	427,623		FNMA	5.000		03/01/34		454
	93,856		FNMA	7.000		01/01/34		105
	1,924,701		FNMA	5.500		11/01/33		2,068

320

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,390,855	FNMA	5.500	%	11/01/33	$	2,569
	742,725	FNMA	5.500		12/01/33		798
	365,949	FNMA	5.500		12/01/33		393
	376,054	FNMA	5.000		03/01/34		399
	46,608	FNMA	4.500		06/01/34		49
	59,339	FNMA	4.500		06/01/34		62
	152,693	FNMA	4.500		07/01/34		161
	218,841	FNMA	4.500		06/01/34		230
	47,370	FNMA	4.500		06/01/34		50
	830,854	FNMA	4.500		05/01/34		874
	3,229,010	FNMA	5.000		04/01/34		3,421
	49,809	FNMA	4.500		05/01/34		52
	56,140	FNMA	4.500		05/01/34		59
	2,040,297	FNMA	5.500		11/01/33		2,192
	10,000,000	FNMA	4.000		10/25/25		10,438
	15,773,645	FNMA	5.000		10/01/25		16,718
	1,714,963	FNMA	6.500		07/01/32		1,914
	8,000,000	FNMA	4.500		10/25/25		8,412
	9,212,452	FNMA	4.000		09/01/24		9,630
	5,170,070	FNMA	4.000		05/01/24		5,405
	573,995	FNMA	5.500		02/01/24		618
	2,724,183	FNMA	4.500		08/01/24		2,868
	91,400	FNMA	8.000		07/01/24		106
	312,809	FNMA	5.000		02/01/33		332
	1,674,338	FNMA	5.000		11/01/33		1,778
	1,027,513	FNMA	5.000		10/01/33		1,091
	1,788,224	FNMA	5.500		11/01/33		1,921
	1,465,271	FNMA	5.500		11/01/33		1,574
	1,219,244	FNMA	5.000		10/01/33		1,295
	2,028,503	FNMA	4.500		08/01/33		2,136
	947,608	FNMA	5.500		07/01/33		1,018
	286,882	FNMA	4.500		09/01/33		301
	1,109,258	FNMA	5.000		08/01/33		1,178
		Government National Mortgage Association (GNMA)
	4,286,024	GNMA	4.500		03/15/39		4,518
	915,443	GNMA	4.500		05/15/39		965
	4,746,956	GNMA	4.500		07/20/39		5,009
	1,609,727	GNMA	6.000		08/20/38		1,749
	32,000,000	GNMA	5.500		10/15/38		34,400
	2,487,768	GNMA	6.500		11/20/38		2,732
	1,746,938	GNMA	5.000		07/20/39		1,866
	10,000,000	GNMA	6.000		10/15/39		10,850
	20,000,000	GNMA	5.000		10/20/40		21,331
	4,919,793	GNMA	6.230		09/15/43		5,288
	1,879,476	GNMA	4.000		08/15/39		1,947
	38,000,000	GNMA	4.500		10/15/39		39,972
	20,000,000	GNMA	5.000		10/15/39		21,294
	42,158	GNMA	6.500		08/15/23		47
	12,132	GNMA	6.500		08/15/23		13
	239,350	GNMA	6.500		05/20/31		268
	2,699,131	GNMA	5.220		04/15/15		2,724
	77,006	GNMA	9.000		12/15/17		85

321

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	62,853		GNMA	8.000	%	06/15/22	$	73
	937,300		GNMA	5.500		07/15/33		1,014
	3,754,829		GNMA	6.000		02/20/37		4,080
	3,269,661		GNMA	5.000		04/15/38		3,487
	1,591,237		GNMA	6.000		08/15/38		1,729
	696,721		GNMA	6.000		10/20/36		759
	728,445		GNMA	6.000		01/20/37		792
	3,562,277		GNMA	5.500		02/15/37		3,836
			TOTAL MORTGAGE BACKED					1,177,384
MUNICIPAL BONDS - 1.7%
	1,860,000		Allegheny County Redevelopment Authority	5.000		09/01/11		1,919
	1,110,000		Atlanta Urban Residential Finance Authority	5.070		12/01/11		1,141
	4,500,000	g	Basin Electric Power Coop	6.130		06/01/41		4,447
	2,390,000		Charlotte-Mecklenburg Hospital Authority	5.000		08/01/15		2,601
			Chicago Metropolitan Water Reclamation District-Greater
	5,000,000		Chicago	5.720		12/01/38		5,691
	1,250,000		City & County of Honolulu HI	6.110		07/01/29		1,312
	4,000,000		City of Dallas TX	5.080		02/15/22		4,340
	1,500,000		City of Dallas TX	5.200		02/15/35		1,558
	925,000		City of Eugene OR	6.320		08/01/22		1,014
	5,000,000		City of New York NY	4.500		06/01/15		5,440
	1,055,000	j	City of Oakland CA	0.000		12/15/11		1,019
	4,750,000		Clean Water Services	5.700		10/01/30		5,144
	5,000,000		Commonwealth of Massachusetts	5.460		12/01/39		5,425
	325,000		County of Harnett NC	5.150		05/01/12		326
	2,335,000		County of Mercer NJ	5.380		02/01/17		2,419
	4,000,000		Dallas County Hospital District	5.620		08/15/44		4,535
			Douglas County Public Utility District No 1 Wells
	1,680,000		Hydroelectric	5.110		09/01/18		1,770
	1,400,000		Elkhart Redevelopment District	5.500		06/15/18		1,531
	8,035,000		Fiscal Year 2005 Securitization Corp	4.760		08/15/19		8,541
	3,500,000		Grant County Public Utility District No 2	5.630		01/01/27		3,809
	2,000,000		Guadalupe Valley Electric Coop, Inc	5.670		10/01/32		1,757
	1,000,000		Kansas Development Finance Authority	4.590		05/01/14		1,075
	1,350,000		Kansas Development Finance Authority	4.720		05/01/15		1,480
	2,750,000	g	LL & P Wind Energy, Inc	5.220		12/01/12		2,771
	4,900,000		Massachusetts St. Water Pollution Abatement	5.190		08/01/40		5,113
	3,000,000		Metropolitan Washington Airports Authority	5.690		10/01/30		3,121
	5,000,000		Metropolitan Water District of Southern California	6.250		07/01/39		5,456
	5,000,000		Mississippi Development Bank Special Obligation	5.320		07/01/14		5,334
	560,000		New York City Housing Development Corp	4.660		11/01/10		561
	2,160,000		New York State Environmental Facilities Corp	4.900		12/15/11		2,213
	3,000,000		New York State Urban Development Corp	6.500		12/15/18		3,512
	2,500,000		Newport News Economic Development Authority	5.640		01/15/29		2,569
	2,450,000		Ohio State Water Development Authority	4.880		12/01/34		2,538
	2,500,000		Oklahoma Capital Improvement Authority	5.180		07/01/14		2,790
	3,750,000		State of California	7.630		03/01/40		4,125
	2,050,000		State of Hawaii	4.670		05/01/14		2,241
	5,000,000		State of Illinois	4.070		01/01/14		5,169
	5,570,000		State of Illinois	4.350		06/01/18		5,455
	5,750,000		State of Michigan	4.600		11/01/11		5,977

322

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,500,000	State of Ohio	5.410	%	09/01/28	$	2,772
	3,050,000	State of Oregon	5.030		08/01/14		3,394
	3,265,000	State of Texas	4.900		08/01/20		3,464
	5,000,000	State of Texas	6.070		10/01/29		5,463
	4,735,000	State of Washington	5.050		01/01/18		4,855
	1,033,000	State of Wisconsin	5.700		05/01/26		1,135
	5,000,000	State Public School Building Authority	5.000		09/15/27		5,017
	5,000,000	Tuolumne Wind Project Authority	6.920		01/01/34		5,453
	2,025,000	University Central Fl University Revenues	5.130		10/01/20		1,944
		TOTAL MUNICIPAL BONDS					160,736
U.S. TREASURY SECURITIES - 6.6%
	66,143,000	United States Treasury Bond	8.000		11/15/21		99,763
	5,000,000	United States Treasury Bond	6.380		08/15/27		7,064
	20,000,000	United States Treasury Bond	5.250		02/15/29		25,275
	13,176,000	United States Treasury Bond	5.380		02/15/31		16,964
	29,963,500	United States Treasury Bond	4.380		05/15/40		33,653
	5,130,000	United States Treasury Note	1.000		08/31/11		5,164
	11,875,000	United States Treasury Note	1.000		09/30/11		11,958
	1,400,000	United States Treasury Note	0.750		11/30/11		1,407
	42,254,000	United States Treasury Note	1.000		12/31/11		42,612
	12,750,000	United States Treasury Note	0.880		02/29/12		12,847
	4,275,000	United States Treasury Note	0.630		06/30/12		4,292
	36,625,000	United States Treasury Note	1.380		11/15/12		37,333
	14,280,000	United States Treasury Note	1.130		12/15/12		14,481
	34,267,000	United States Treasury Note	1.380		01/15/13		34,944
	13,405,000	United States Treasury Note	1.130		06/15/13		13,596
	6,140,000	United States Treasury Note	0.750		08/15/13		6,163
	8,000,000	United States Treasury Note	0.750		09/15/13		8,026
	2,670,000	United States Treasury Note	3.130		09/30/13		2,866
	34,030,000	United States Treasury Note	2.250		05/31/14		35,758
	33,395,000	United States Treasury Note	2.380		08/31/14		35,234
	8,190,000	United States Treasury Note	2.380		10/31/14		8,644
	17,585,000	United States Treasury Note	2.130		11/30/14		18,379
	8,650,000	United States Treasury Note	2.250		01/31/15		9,077
	14,631,000	United States Treasury Note	2.500		04/30/15		15,511
	17,895,000	United States Treasury Note	1.880		06/30/15		18,440
	36,809,500	United States Treasury Note	1.250		08/31/15		36,798
	50,000,000	United States Treasury Note	1.250		09/30/15		49,923
	3,575,000	United States Treasury Note	1.880		08/31/17		3,572
	25,253,000	United States Treasury Note	2.630		08/15/20		25,490
		TOTAL U.S. TREASURY SECURITIES					635,234
		TOTAL GOVERNMENT BONDS					2,393,515
		(Cost $2,289,088)
STRUCTURED ASSETS - 2.7%
ASSET BACKED - 0.8%
	5,000,000	AmeriCredit Automobile Receivables Trust	5.190		08/17/15		5,260
		Series - 2010 1 (Class C)

323

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,500,000		AmeriCredit Prime Automobile Receivable	4.990	%	07/17/17	$	1,578
			Series - 2009 1 (Class C)
	3,501,139	i	Chase Funding Loan Acquisition Trust	0.830		06/25/34		2,810
			Series - 2004 OPT1 (Class M1)
	674,364	i	Chase Funding Mortgage Loan Asset-Backed Certificates	5.700		02/25/35		264
			Series - 2004 2 (Class 1B)
	1,500,000		CNH Equipment Trust	4.980		04/15/16		1,562
			Series - 2009 C (Class B)
	2,150,000	i	Countrywide Asset-Backed Certificates	5.680		10/25/46		2,052
			Series - 2006 15 (Class A2)
	608,345	i	Countrywide Home Equity Loan Trust	0.480		02/15/29		335
			Series - 2004 B (Class 1A)
	2,593,240	g	Credit-Based Asset Servicing and Securitization LLC	6.160		12/25/36		2,559
			Series - 2007 MX1 (Class A1)
	11,488,321	g	Flagstar Home Equity Loan Trust	5.780		01/25/35		9,740
			Series - 2007 1A (Class AF3)
	1,649,543		GMAC Commercial Mortgage Securities, Inc	5.590		10/25/29		1,530
			Series - 2006 HLTV (Class A3)
	2,282,000		GMAC Commercial Mortgage Securities, Inc	5.810		10/25/29		1,531
			Series - 2006 HLTV (Class A4)
	3,370,000	g	Hertz Vehicle Financing LLC	5.290		03/25/16		3,720
			Series - 2009 2A (Class A2)
	715,103		HFC Home Equity Loan Asset Backed Certificates	5.910		03/20/36		722
			Series - 2007 1 (Class A1F)
	836,743	i	Morgan Stanley ABS Capital I	0.270		01/25/37		824
			Series - 2007 HE2 (Class A2A)
	4,010,000		Renaissance Home Equity Loan Trust	5.590		11/25/36		2,220
			Series - 2006 3 (Class AF3)
	2,000,058		Residential Asset Mortgage Products, Inc	4.970		09/25/33		2,043
			Series - 2003 RZ5 (Class A7)
	3,634,883		Residential Funding Mortgage Securities II, Inc	5.520		04/25/21		3,562
			Series - 2006 HI5 (Class A2)
	9,000,000		Residential Funding Mortgage Securities II, Inc	5.500		08/25/25		7,442
			Series - 2006 HI5 (Class A3)
	826,147		Residential Funding Mortgage Securities II, Inc	5.750		02/25/36		820
			Series - 2006 HI2 (Class A2)
	5,700,000		Residential Funding Mortgage Securities II, Inc	5.960		02/25/36		5,091
			Series - 2006 HI3 (Class A3)
	2,000,000		Residential Funding Mortgage Securities II, Inc	6.010		02/25/36		1,150
			Series - 2006 HI1 (Class M1)
	200,000		Residential Funding Mortgage Securities II, Inc	6.060		02/25/36		68
			Series - 2006 HI1 (Class M2)
	18,000,000		Residential Funding Mortgage Securities II, Inc	5.440		09/25/36		15,129
			Series - 2006 HI4 (Class A3)
	2,185,297		Residential Funding Mortgage Securities II, Inc	5.450		09/25/36		2,179
			Series - 2006 HI4 (Class A2)
	1,429,604	i	Securitized Asset Backed Receivables LLC Trust	0.410		03/25/36		1,358
			Series - 2006 NC2 (Class A2)
	380,000	g	Vornado DP LLC	4.000		09/13/28		391
			Series - 2010 VNO (Class A2FX)
	1,142,712	g,m	Wachovia Amortization Controlled Heloc NIM	5.680		08/12/47		926
			Series - 2006 N1 (Class N1)

324

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,724,671	g,i	Wachovia Loan Trust	0.620	%	05/25/35	$	1,051
			Series - 2005 SD1 (Class A)
	1,266,412	i	Wells Fargo Home Equity Trust	0.400		07/25/36		1,172
			Series - 2006 2 (Class A3)
			TOTAL ASSET BACKED					79,089
OTHER MORTGAGE BACKED - 1.9%
	1,875,000		Banc of America Commercial Mortgage, Inc	5.360		10/10/45		1,970
			Series - 2006 6 (Class A4)
	3,565,000	i	Banc of America Commercial Mortgage, Inc	5.870		04/10/49		3,648
			Series - 2007 2 (Class A4)
	1,316,834		Bank of America Alternative Loan Trust	5.500		09/25/19		1,367
			Series - 2004 8 (Class 3A1)
	505,000		Bear Stearns Commercial Mortgage Securities	5.200		12/11/38		533
			Series - 2006 PW14 (Class A4)
	1,100,000	i	Bear Stearns Commercial Mortgage Securities	5.620		03/11/39		1,214
			Series - 2006 PW11 (Class A4)
	1,430,000		Bear Stearns Commercial Mortgage Securities	4.670		06/11/41		1,524
			Series - 2005 PWR8 (Class A4)
	1,400,000	i	Bear Stearns Commercial Mortgage Securities	5.470		06/11/41		1,539
			Series - 2004 PWR4 (Class A3)
	2,200,000	i	Bear Stearns Commercial Mortgage Securities	5.580		09/11/41		2,178
			Series - 2006 PW13 (Class AM)
	2,655,000	i	Bear Stearns Commercial Mortgage Securities	4.750		02/13/46		2,828
			Series - 2004 T16 (Class A6)
	3,665,000	i	Bear Stearns Commercial Mortgage Securities	5.690		06/11/50		3,956
			Series - 2007 PW17 (Class A4)
	3,020,000		Bear Stearns Commercial Mortgage Securities	5.700		06/11/50		3,250
			Series - 2007 PW18 (Class A4)
	1,900,000		Chase Mortgage Finance Corp	5.500		10/25/35		1,929
			Series - 2005 S2 (Class A24)
	2,565,000		Citigroup, Inc	5.320		12/11/49		2,658
			Series - 2007 CD4 (Class A4)
	3,530,000	i	Commercial Mortgage Pass Through Certificates	6.010		12/10/49		3,842
			Series - 2007 C9 (Class A4)
	3,524,419		Countrywide Alternative Loan Trust	5.500		08/25/16		3,096
			Series - 2004 30CB (Class 1A15)
	3,783,481		Countrywide Home Loan Mortgage Pass Through Trust	4.750		09/25/18		3,950
			Series - 2003 35 (Class 1A1)
	1,451,658		Countrywide Home Loan Mortgage Pass Through Trust	5.250		09/25/35		1,487
			Series - 2005 17 (Class 1A10)
	1,157,921		Countrywide Home Loan Mortgage Pass Through Trust	5.500		09/25/35		1,155
			Series - 2005 J3 (Class 1A1)
	5,012,009	g,i	Credit Suisse Mortgage Capital Certificates	0.440		04/15/22		4,421
			Series - 2007 TF2A (Class A1)
			Credit Suisse/Morgan Stanley Commercial Mortgage
	2,197,621	g,i	Certificate	0.450		05/15/23		2,108
			Series - 2006 HC1A (Class A1)
	1,345,000		CS First Boston Mortgage Securities Corp	3.940		05/15/38		1,413
			Series - 2003 C3 (Class A5)
	1,210,000		CS First Boston Mortgage Securities Corp	4.050		05/15/38		1,231
			Series - 2003 C3 (Class B)

325

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,367,000	i	CS First Boston Mortgage Securities Corp	5.100	%	08/15/38	$	3,647
			Series - 2005 C5 (Class A4)
	900,000	i	CS First Boston Mortgage Securities Corp	5.100		08/15/38		816
			Series - 2005 C5 (Class AJ)
	600,000		Federal National Mortgage Association (FNMA)	4.000		02/25/19		651
			Series - 2004 7 (Class JK)
	3,701,823		Federal National Mortgage Association (FNMA)	4.500		03/25/33		3,966
			Series - 2005 95 (Class LN)
	710,000		GMAC Commercial Mortgage Securities, Inc	5.020		04/10/40		771
			Series - 2003 C3 (Class A4)
	2,426,455	i	GMAC Mortgage Corp Loan Trust	4.570		10/19/33		2,460
			Series - 2003 AR1 (Class A5)
	5,845,954		Government National Mortgage Association (GNMA)	4.390		08/16/30		5,942
			Series - 2005 32 (Class B)
	8,330,000	i	Greenwich Capital Commercial Funding Corp	5.890		07/10/38		8,301
			Series - 2006 GG7 (Class AM)
	2,075,000	i	Greenwich Capital Commercial Funding Corp	6.080		07/10/38		2,274
			Series - 2006 GG7 (Class A4)
	7,495,000		Greenwich Capital Commercial Funding Corp	5.440		03/10/39		7,901
			Series - 2007 GG9 (Class A4)
	1,750,000		Greenwich Capital Commercial Funding Corp	5.480		03/10/39		1,616
			Series - 2007 GG9 (Class AM)
	4,520,000		Greenwich Capital Commercial Funding Corp	5.740		12/10/49		4,730
			Series - 2007 GG11 (Class A4)
	1,875,000	i	GS Mortgage Securities Corp II	5.550		04/10/38		2,019
			Series - 2006 GG6 (Class A4)
	3,000,000	i	GS Mortgage Securities Corp II	5.620		04/10/38		2,940
			Series - 2006 GG6 (Class AM)
	3,880,000		GS Mortgage Securities Corp II	5.560		11/10/39		4,133
			Series - 2006 GG8 (Class A4)
	1,186,847	i	GSR Mortgage Loan Trust	4.920		01/25/36		1,145
			Series - 2006 AR1 (Class 2A2)
	3,525,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	0.440		02/15/20		3,159
			Series - 2006 FL1A (Class A2)
	1,500,000	g	JP Morgan Chase Commercial Mortgage Securities Corp	5.630		12/05/27		1,709
			Series - 2009 IWST (Class A2)
	4,380,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.340		05/15/47		4,555
			Series - 2006 LDP9 (Class A3)
	2,265,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.440		06/12/47		2,374
			Series - 2007 CB18 (Class A4)
	4,120,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	5.820		06/15/49		4,257
			Series - 2007 LD11 (Class A4)
	2,045,320	i	JP Morgan Mortgage Trust	4.310		04/25/35		2,065
			Series - 2005 A2 (Class 5A1)
	2,330,000		LB-UBS Commercial Mortgage Trust	4.740		02/15/30		2,489
			Series - 2005 C1 (Class A4)
	900,000	i	LB-UBS Commercial Mortgage Trust	5.150		04/15/30		962
			Series - 2005 C2 (Class A5)
	1,015,000		LB-UBS Commercial Mortgage Trust	4.390		03/15/32		1,076
			Series - 2003 C1 (Class A4)
	6,120,000		LB-UBS Commercial Mortgage Trust	5.420		02/15/40		6,447
			Series - 2007 C1 (Class A4)

326

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,975,000		LB-UBS Commercial Mortgage Trust	5.430	%	02/15/40	$	4,158
			Series - 2007 C2 (Class A3)
	2,450,000	i	LB-UBS Commercial Mortgage Trust	5.860		07/15/40		2,556
			Series - 2007 C6 (Class A4)
	5,800,000	i	Merrill Lynch Mortgage Trust	5.410		11/12/37		6,373
			Series - 2005 CKI1 (Class A6)
	1,645,209	i	Merrill Lynch Mortgage Trust	5.110		07/12/38		1,668
			Series - 2005 CIP1 (Class AM)
	1,300,000	i	Merrill Lynch Mortgage Trust	5.840		05/12/39		1,419
			Series - 2006 C1 (Class A4)
	2,515,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	6.160		08/12/49		2,398
			Series - 2007 8 (Class AM)
	4,040,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	5.170		12/12/49		4,185
			Series - 2006 4 (Class A3)
	2,225,000	i	Morgan Stanley Capital I	5.270		06/13/41		2,426
			Series - 2004 T15 (Class A4)
	2,650,000		Morgan Stanley Capital I	5.170		01/14/42		2,864
			Series - 2005 HQ5 (Class A4)
	6,300,000	i	Morgan Stanley Capital I	5.450		02/12/44		6,572
			Series - 2007 HQ11 (Class A4)
	1,211,000	i	Morgan Stanley Capital I	5.730		07/12/44		1,339
			Series - 2006 HQ9 (Class A4)
	850,000	i	Morgan Stanley Capital I	5.540		11/12/49		846
			Series - 2007 T25 (Class AM)
	1,010,000		Morgan Stanley Capital I	4.770		07/15/56		879
			Series - 0 IQ9 (Class AJ)
	2,750,000	g	OBP DEPOSITOR LLC TRUST	4.650		07/15/45		2,975
			Series - 2010 OBP (Class A)
	915,641	i	Structured Adjustable Rate Mortgage Loan Trust	0.640		03/25/35		888
			Series - 2005 6XS (Class A3)
	1,000,851	i	Structured Adjustable Rate Mortgage Loan Trust	5.750		07/25/36		1,009
			Series - 2006 6 (Class 2A1)
	965,000	i	Wachovia Bank Commercial Mortgage Trust	5.530		12/15/44		874
			Series - 2005 C22 (Class AJ)
	2,175,000	i	Wachovia Bank Commercial Mortgage Trust	6.100		02/15/51		2,271
			Series - 2007 C33 (Class A4)
			TOTAL OTHER MORTGAGE BACKED					179,402
			TOTAL STRUCTURED ASSETS					258,491
			(Cost $253,574)
			TOTAL BONDS					3,644,200
			(Cost $3,454,155)

SHARES			COMPANY
COMMON STOCKS - 60.0%
AUTOMOBILES & COMPONENTS - 1.2%
	24,300	*	Aisin Seiki Co Ltd	758
	103,120	*	American Axle & Manufacturing Holdings, Inc	930

327

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	127,203		Bayerische Motoren Werke AG.	$	8,920
	8,349		Bayerische Motoren Werke AG. (Preference)		389
	51,856	*	BorgWarner, Inc		2,729
	11,649	*	Continental AG.		905
	130,600		Denso Corp		3,872
	1,930	*	Drew Industries, Inc		40
	2,612,732	*	Ford Motor Co		31,981
	8,129	*	Fuel Systems Solutions, Inc		318
	63,051		Gentex Corp		1,230
	189,806		Harley-Davidson, Inc		5,398
	305,980		Honda Motor Co Ltd		10,861
	534,566		Johnson Controls, Inc		16,305
	38,400	*	Modine Manufacturing Co		498
	599,000	*	Nissan Motor Co Ltd		5,231
	54,787	*	Peugeot S.A.		1,842
	97,815		Pirelli & C S.p.A.		796
	83,765	*	Renault S.A.		4,310
	48,870		Superior Industries International, Inc		844
	117,201	*	Tenneco, Inc		3,395
	25,000	*	Toyota Industries Corp		668
	77,972		Volkswagen AG. (Preference)		9,410
	102,500	*	Yamaha Motor Co Ltd		1,538
			TOTAL AUTOMOBILES & COMPONENTS		113,168
BANKS - 4.2%
	7,264		Associated Banc-Corp		96
	416,316		Australia & New Zealand Banking Group Ltd		9,529
	1,316,621		Banca Intesa S.p.A.		4,276
	766,621		Banca Intesa S.p.A. RSP		1,974
	720,577		Banco Bilbao Vizcaya Argentaria S.A.		9,730
	209,409		Banco Comercial Portugues S.A.		182
	349,583		Banco Espirito Santo S.A.		1,618
	966,457		Banco Santander Central Hispano S.A.		12,275
	2,020		Bancorpsouth, Inc		29
	202,377	*	Bank Hapoalim Ltd		926
	310,755	*	Bank Leumi Le-Israel		1,444
	17,096		Bank of Hawaii Corp		768
	194,500		Bank of Nova Scotia		10,382
	608,682		BB&T Corp		14,657
	700		BOK Financial Corp		32
	1,430		Capitol Federal Financial		35
	3,360		Cathay General Bancorp		40
	559,724	*	Citizens Republic Bancorp, Inc		504
	33,051		City National Corp		1,754
	2,120		Columbia Banking System, Inc		42
	118,264		Comerica, Inc		4,394
	1,049		Commerce Bancshares, Inc		39
	88,939	*	Commerzbank AG.		737
	301,281		Commonwealth Bank of Australia		14,901
	2,000		Community Bank System, Inc		46
	700		Cullen/Frost Bankers, Inc		38
	54,758	*	Danske Bank AS		1,321

328

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	352,155	*	Dexia	$	1,552
	172,388		DNB NOR Holding ASA		2,346
	2,420		East West Bancorp, Inc		39
	53,552		Erste Bank der Oesterreichischen Sparkassen AG.		2,144
	786,736		Fifth Third Bancorp		9,464
	2,370		First Financial Bancorp		40
	167,344	*,h	First Horizon National Corp		1,909
	2,900		First Niagara Financial Group, Inc		34
	22,979		Fulton Financial Corp		208
	2,590		Glacier Bancorp, Inc		38
	1,000		Hancock Holding Co		30
	275,400		Hang Seng Bank Ltd		4,050
	2,408,118		HSBC Holdings plc		24,400
	202,875		Hudson City Bancorp, Inc		2,487
	1,147		International Bancshares Corp		19
	95,701	*	Israel Discount Bank Ltd		190
	90,119	*	KBC Groep NV		4,043
	615,552		Keycorp		4,900
	127,214		M&T Bank Corp		10,407
	200,023		Marshall & Ilsley Corp		1,408
	1,800		MB Financial, Inc		29
	1,558,700		Mitsubishi UFJ Financial Group, Inc		7,263
	3,311,900		Mizuho Financial Group, Inc		4,840
	344,419		National Australia Bank Ltd		8,436
	73,275	*	National Bank of Greece S.A.		716
	6,490		National Penn Bancshares, Inc		41
	1,500		NBT Bancorp, Inc		33
	164,983		New York Community Bancorp, Inc		2,681
	20,699		NewAlliance Bancshares, Inc		261
	567,438		Nordea Bank AB		5,910
	19,938		Old National Bancorp		209
	600		Park National Corp		38
	18,109		People’s United Financial, Inc		237
	2,500	*	Pinnacle Financial Partners, Inc		23
	29,650	*	PMI Group, Inc		109
	357,725		PNC Financial Services Group, Inc		18,570
	1,906,222	*	Popular, Inc		5,528
	1,100		Prosperity Bancshares, Inc		36
	48,979		Provident Financial Services, Inc		605
	39,760		Radian Group, Inc		311
	956,941		Regions Financial Corp		6,957
	244,110		Royal Bank of Canada (Toronto)		12,714
	3,701,376	*	Royal Bank of Scotland Group plc		2,745
	1,000		S&T Bancorp, Inc		17
	685,000		Shinsei Bank Ltd		484
	410,200		Shizuoka Bank Ltd		3,533
	1,200	*	Signature Bank		47
	155,678		Skandinaviska Enskilda Banken AB (Class A)		1,154
	258,970		Standard Chartered plc		7,428
	6,990		Sterling Bancshares, Inc		38
	408,900		Sumitomo Trust & Banking Co Ltd		2,047
	466,142		SunTrust Banks, Inc		12,040

329

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	5,030		Susquehanna Bancshares, Inc	$	42
	23,595	*	SVB Financial Group		999
	244,510		Svenska Handelsbanken (A Shares)		8,013
	1,756,384		Synovus Financial Corp		4,321
	2,400		TCF Financial Corp		39
	3,000		TFS Financial Corp		28
	122,211		Toronto-Dominion Bank		8,843
	1,700		Trustmark Corp		37
	3,150		Umpqua Holdings Corp		36
	2,122,460		UniCredito Italiano S.p.A.		5,419
	1,483,400		US Bancorp		32,072
	6,478		Washington Federal, Inc		99
	2,724		Webster Financial Corp		48
	2,508,748		Wells Fargo & Co		63,046
	5,690	*	Western Alliance Bancorp		38
	591,023		Westpac Banking Corp		13,276
	1,700		Whitney Holding Corp		14
	1,110		Wintrust Financial Corp		36
	15,516		Zions Bancorporation		331
			TOTAL BANKS		403,294
CAPITAL GOODS - 4.8%
	481,800		3M Co		41,777
	3,800		A.O. Smith Corp		220
	31,650		ACS Actividades Cons y Servicios S.A.		1,580
	2,100		Actuant Corp (Class A)		48
	56,861	*	AGCO Corp		2,218
	1,300		Albany International Corp (Class A)		25
	66,830		Alfa Laval AB		1,171
	600		American Science & Engineering, Inc		44
	2,655	*	American Superconductor Corp		83
	279,522		Ametek, Inc		13,352
	4,300		Ampco-Pittsburgh Corp		107
	5,965		Apogee Enterprises, Inc		55
	1,440		Applied Industrial Technologies, Inc		44
	45,634	*	Armstrong World Industries, Inc		1,894
	65,817	*	ArvinMeritor, Inc		1,023
	291,000		Asahi Glass Co Ltd		2,966
	35,700		Assa Abloy AB (Class B)		900
	10,969	*	Astec Industries, Inc		313
	1,090		AZZ, Inc		47
	1,030		Badger Meter, Inc		42
	21,754		Baldor Electric Co		879
	81,414		Balfour Beatty plc		342
	109,330		Barnes Group, Inc		1,923
	211,538	*	BE Aerospace, Inc		6,412
	2,120	*	Beacon Roofing Supply, Inc		31
	333,800		Bombardier, Inc		1,638
	68,516		Bouygues S.A.		2,941
	1,300		Brady Corp (Class A)		38
	26,790		Briggs & Stratton Corp		509
	23,239	*	Builders FirstSource, Inc		53

330

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	295,728		Bunzl plc	$	3,526
	480,922		Caterpillar, Inc		37,838
	118,516		Cintra Concesiones de Infraestructuras de Transporte S.A.		1,108
	1,100		Clarcor, Inc		42
	7,900	*	Columbus McKinnon Corp		131
	2,050		Comfort Systems USA, Inc		22
	81,816		Compagnie de Saint-Gobain		3,640
	27,671		Cooper Industries plc		1,354
	653,002		CSR Ltd		1,136
	223,631		Cummins, Inc		20,256
	26,300		Daikin Industries Ltd		989
	726,637		Danaher Corp		29,509
	394,467		Deere & Co		27,526
	1,560		Delek Group Ltd		428
	39,470		Discount Investment Corp		788
	10,400		Donaldson Co, Inc		490
	29,871		Dover Corp		1,560
	41,047		Dynamic Materials Corp		620
	93,578		Eaton Corp		7,719
	1,740	*	EMCOR Group, Inc		43
	687,074		Emerson Electric Co		36,180
	1,280	*	EnPro Industries, Inc		40
	1,450		ESCO Technologies, Inc		48
	59,100	*	Fanuc Ltd		7,526
	17,150		Fastenal Co		912
	14,800		Federal Signal Corp		80
	3,800		Finning International, Inc		88
	39,671		Fluor Corp		1,965
	23,380		Fomento de Construcciones y Contratas S.A.		646
	76,315		Gamesa Corp Tecnologica S.A.		534
	2,330		Gardner Denver, Inc		125
	8,591		Geberit AG.		1,530
	1,350	*	General Cable Corp		37
	48,876	*	Gibraltar Industries, Inc		439
	1,200		Gorman-Rupp Co		33
	63,837		Graco, Inc		2,026
	51,754	*	GrafTech International Ltd		809
	1,240		Granite Construction, Inc		28
	32,600		Hitachi Construction Machinery Co Ltd		705
	6,000		Hochtief AG.		520
	46,983		Hubbell, Inc (Class B)		2,384
	611,689		Illinois Tool Works, Inc		28,762
	53,867		Ingersoll-Rand plc		1,924
	1,900	*	Insituform Technologies, Inc (Class A)		46
	2,300		Insteel Industries, Inc		21
	336,346		Invensys plc		1,577
	17,936		John Bean Technologies Corp		289
	27,700		JS Group Corp		543
	119,400		Komatsu Ltd		2,772
	347,730		Koninklijke Philips Electronics NV		10,929
	288,000		Kubota Corp		2,636
	6,983	*	Layne Christensen Co		181

331

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	36,587	*	LB Foster Co (Class A)	$	1,059
	12,110		Lincoln Electric Holdings, Inc		700
	600		Lindsay Manufacturing Co		26
	11,900	*	Makita Corp		377
	347,539		Masco Corp		3,827
	66,000		Matsushita Electric Works Ltd		875
	12,396		Metso Oyj		568
	750	*	Middleby Corp		48
	320,000		Mitsubishi Electric Corp		2,752
	900		MSC Industrial Direct Co (Class A)		49
	114,717	*	NCI Building Systems, Inc		1,093
	83,000		NGK Insulators Ltd		1,379
	28,000		Nidec Corp		2,489
	67,410		Nordson Corp		4,967
	86,000		NSK Ltd		583
	66,800		Orkla ASA		616
	60,192	*	Owens Corning, Inc		1,543
	240,316		Paccar, Inc		11,571
	42,932		Pall Corp		1,788
	35,043		Pentair, Inc		1,178
	2,350	*	Perini Corp		47
	2,110	*	Polypore International, Inc		64
	22,768		Precision Castparts Corp		2,900
	34,002		Quanex Building Products Corp		587
	77,762	*	Quanta Services, Inc		1,484
	2,000		Robbins & Myers, Inc		54
	62,526		Rockwell Automation, Inc		3,860
	37,308		Roper Industries, Inc		2,432
	5,140	*	RSC Holdings, Inc		38
	3,300	*	Rush Enterprises, Inc (Class A)		51
	175,680		Sandvik AB		2,692
	2,100	*	Sauer-Danfoss, Inc		45
	157,500		Scania AB (B Shares)		3,477
	91,044		Schneider Electric S.A.		11,544
	1,603,500		SembCorp Industries Ltd		5,316
	98,000		Shimizu Corp		363
	1,310		Simpson Manufacturing Co, Inc		34
	41,300		Skanska AB (B Shares)		757
	3,270		Smiths Group plc		63
	20,075		Snap-On, Inc		934
	182,710	*	Spirit Aerosystems Holdings, Inc (Class A)		3,641
	700		SPX Corp		44
	93,600		Sumitomo Electric Industries Ltd		1,141
	1,680		TAL International Group, Inc		41
	14,706	*	Tecumseh Products Co (Class A)		169
	99,430		Tennant Co		3,072
	59,789	*	Thomas & Betts Corp		2,453
	1,480		Timken Co		57
	69,914		Tredegar Corp		1,327
	1,800	*	Trex Co, Inc		34
	110,819		Tyco International Ltd		4,070
	1,070		Universal Forest Products, Inc		31

332

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	74,252	*	Valence Technology, Inc	$	85
	37,780	*	Vestas Wind Systems AS		1,424
	2,600		Vicor Corp		38
	165,360		Vinci S.A.		8,288
	341,990		Volvo AB (B Shares)		5,023
	114,769		W.W. Grainger, Inc		13,669
	39,926	*	WABCO Holdings, Inc		1,674
	730		Watsco, Inc		41
	17,580	*	WESCO International, Inc		691
	44,700		Westinghouse Air Brake Technologies Corp		2,136
	131,715	*	Wolseley plc		3,309
	14,175		Zardoya Otis S.A.		254
			TOTAL CAPITAL GOODS		454,677
COMMERCIAL & PROFESSIONAL SERVICES - 0.4%
	600	*	Acacia Research (Acacia Technologies)		11
	38,320	*	ACCO Brands Corp		220
	41,858		Adecco S.A.		2,187
	4,500		Administaff, Inc		121
	10,400		Aggreko plc		256
	7,885	*	ATC Technology Corp		195
	164,413		Avery Dennison Corp		6,104
	5,289		Bowne & Co, Inc		60
	127,102		Brambles Ltd		770
	2,370		Brink’s Co		55
	120,569		Capita Group plc		1,489
	2,000		CDI Corp		26
	5,300		Corporate Executive Board Co		167
	800	*	CoStar Group, Inc		39
	188,000		Dai Nippon Printing Co Ltd		2,295
	18,020		Deluxe Corp		345
	3,270	*	Dolan Media Co		37
	69,765		Dun & Bradstreet Corp		5,172
	1,310	*	EnerNOC, Inc		41
	291,317		Experian Group Ltd		3,171
	15,128	*	FTI Consulting, Inc		525
	2,000		Heidrick & Struggles International, Inc		39
	8,629		Herman Miller, Inc		170
	23,219		HNI Corp		668
	1,850	*	Huron Consulting Group, Inc		41
	700	*	IHS, Inc (Class A)		48
	57,672		Iron Mountain, Inc		1,288
	3,011	*	Kforce, Inc		41
	2,980		Knoll, Inc		46
	3,300	*	Korn/Ferry International		55
	34,790		Manpower, Inc		1,816
	116,980	*	Metalico, Inc		448
	2,100	*	Mobile Mini, Inc		32
	19,200	*	Navigant Consulting, Inc		223
	36,720		Pitney Bowes, Inc		785
	77,205		R.R. Donnelley & Sons Co		1,309
	15,200	*	Randstad Holdings NV		691

333

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,900		Resources Connection, Inc	$	26
	112,456		Robert Half International, Inc		2,924
	53,100		Secom Co Ltd		2,399
	90,275		Standard Register Co		264
	5,810		Steelcase, Inc (Class A)		48
	600	*	Stericycle, Inc		42
	46,400	*	Tetra Tech, Inc		973
	179,000		Toppan Printing Co Ltd		1,400
	900		Towers Watson & Co		44
	7,956		Unifirst Corp		351
	700	*	United Stationers, Inc		37
	2,100		Viad Corp		41
	2,100	*	Volt Information Sciences, Inc		15
	35,704		Waste Management, Inc		1,276
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		40,826
CONSUMER DURABLES & APPAREL - 1.1%
	3,048		Adidas-Salomon AG.		189
	2,700		American Greetings Corp (Class A)		50
	5,400		Billabong International Ltd		42
	1,024		Blyth, Inc		42
	3,524	*	Brookfield Homes Corp		29
	45,900		Burberry Group plc		750
	32,738		Callaway Golf Co		229
	1,540	*	Carter’s, Inc		41
	3,360		Cherokee, Inc		61
	24,659		Christian Dior S.A.		3,223
	165,529		Coach, Inc		7,111
	1,000		Columbia Sportswear Co		58
	54,572		Compagnie Financiere Richemont S.A.		2,627
	800		CSS Industries, Inc		14
	2,733	*	Deckers Outdoor Corp		137
	2,380		Ethan Allen Interiors, Inc		42
	1,150	*	Fossil, Inc		62
	97,336		Garmin Ltd		2,954
	7,100	*	Gildan Activewear, Inc		200
	15,875	*	Harman International Industries, Inc		530
	1,300		Hasbro, Inc		58
	2,770	*	Iconix Brand Group, Inc		48
	2,600	*	Jakks Pacific, Inc		46
	6,710		KB Home		76
	105,864		Leggett & Platt, Inc		2,409
	45,954	*	Liz Claiborne, Inc		279
	38,075		LVMH Moet Hennessy Louis Vuitton S.A.		5,585
	30,753	*	M/I Homes, Inc		319
	1,990	*	Maidenform Brands, Inc		57
	320,300		Matsushita Electric Industrial Co Ltd		4,339
	508,154		Mattel, Inc		11,922
	23,800	*	Movado Group, Inc		259
	392,268		Nike, Inc (Class B)		31,437
	197,000		Nikon Corp		3,653
	22,800		Oxford Industries, Inc		542

334

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	30,030		Phillips-Van Heusen Corp	$	1,807
	2,000		Pool Corp		40
	1,352		Puma AG. Rudolf Dassler Sport		446
	169,283	*	Quiksilver, Inc		662
	646,000	*	Sanyo Electric Co Ltd		1,068
	44,000		Sekisui Chemical Co Ltd		266
	81,000		Sekisui House Ltd		728
	132,000	*	Sharp Corp		1,314
	134,400	*	Sony Corp		4,155
	1,107,436	*	Standard-Pacific Corp		4,398
	1,270	*	Steven Madden Ltd		52
	9,700	*	Tempur-Pedic International, Inc		301
	400	*	Timberland Co (Class A)		8
	1,780	*	True Religion Apparel, Inc		38
	20,265		Tupperware Corp		927
	1,150	*	Under Armour, Inc (Class A)		52
	38,601		VF Corp		3,127
	1,900	*	Volcom, Inc		36
	970	*	Warnaco Group, Inc		50
	14,200		Weyco Group, Inc		344
	9,286		Whirlpool Corp		752
	123,400		Yamaha Corp		1,432
			TOTAL CONSUMER DURABLES & APPAREL		101,423
CONSUMER SERVICES - 1.1%
	35,220	*	AFC Enterprises		437
	800	*	American Public Education, Inc		26
	30,700		Benesse Corp		1,478
	1,710	*	BJ’s Restaurants, Inc		48
	7,343		Bob Evans Farms, Inc		206
	2,820		Brinker International, Inc		53
	440	*	Capella Education Co		34
	1,020	*	CEC Entertainment, Inc		35
	280	*	Chipotle Mexican Grill, Inc (Class A)		48
	95,076		Choice Hotels International, Inc		3,466
	1,200	*	Coinstar, Inc		52
	480,983		Compass Group plc		4,008
	105,531		Darden Restaurants, Inc		4,515
	900		DeVry, Inc		44
	1,346	*	DineEquity, Inc		61
	3,400	*	Domino’s Pizza, Inc		45
	66,381	*	Gaylord Entertainment Co		2,025
	72,757		Hillenbrand, Inc		1,566
	36,000	*	Interval Leisure Group, Inc		485
	1,810	*	Jack in the Box, Inc		39
	1,210	*	Life Time Fitness, Inc		48
	1,680	*	Lincoln Educational Services Corp		24
	43,668		Marcus Corp		517
	287,671		Marriott International, Inc (Class A)		10,307
	650,379		McDonald’s Corp		48,460
	12,376	*	O’Charleys, Inc		89
	530	*	Panera Bread Co (Class A)		47

335

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,300	*	Papa John’s International, Inc	$	34
	1,110	*	Peet’s Coffee & Tea, Inc		38
	930		PF Chang’s China Bistro, Inc		43
	700	*	Pre-Paid Legal Services, Inc		44
	35,896		Regis Corp		687
	6,040	*	Ruby Tuesday, Inc		72
	29,578	*	Sonic Corp		239
	1,800		Sotheby’s (Class A)		66
	584,956		Starbucks Corp		14,963
	124,901		Starwood Hotels & Resorts Worldwide, Inc		6,564
	155	*	Steak N Shake Co		51
	33,399		Stewart Enterprises, Inc (Class A)		180
	190		Strayer Education, Inc		33
	2,840	*	Texas Roadhouse, Inc (Class A)		40
	2,200		Universal Technical Institute, Inc		43
	960	*	Vail Resorts, Inc		36
	6,510		Weight Watchers International, Inc		203
	37,040		Wyndham Worldwide Corp		1,017
	85,600		Yum! Brands, Inc		3,943
			TOTAL CONSUMER SERVICES		106,459
DIVERSIFIED FINANCIALS - 2.8%
	802,229		American Express Co		33,717
	109,492	*	AmeriCredit Corp		2,678
	145,327		Ameriprise Financial, Inc		6,878
	1,065,268		Bank of New York Mellon Corp		27,835
	80,832		BlackRock, Inc		13,762
	373,667		Capital One Financial Corp		14,779
	1,292,453		Charles Schwab Corp		17,965
	52,701		CME Group, Inc		13,725
	1,920		Cohen & Steers, Inc		42
	844,100	*	Daiwa Securities Group, Inc		3,408
	41,143		Deutsche Boerse AG.		2,745
	374,996		Discover Financial Services		6,255
	48,717		Duff & Phelps Corp		656
	31,220		Eaton Vance Corp		907
	51,550		Evercore Partners, Inc (Class A)		1,475
	46,159		Federated Investors, Inc (Class B)		1,051
	234,984		Franklin Resources, Inc		25,120
	570		Greenhill & Co, Inc		45
	246,000		Hong Kong Exchanges and Clearing Ltd		4,845
	906,309	*	ING Groep NV		9,402
	77,230	*	IntercontinentalExchange, Inc		8,088
	1,750	*	International Assets Holding Corp		32
	418,596		Invesco Ltd		8,887
	3,030	*	Investment Technology Group, Inc		43
	3,510		Janus Capital Group, Inc		38
	1,570		KBW, Inc		40
	84,613		Legg Mason, Inc		2,565
	454,885	*	MF Global Holdings Ltd		3,275
	81,929	*	Nasdaq Stock Market, Inc		1,592
	130,606	*	NewStar Financial, Inc		968

336

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	721,800	*	Nomura Holdings, Inc	$	3,493
	194,049		Northern Trust Corp		9,361
	254,612		NYSE Euronext		7,274
	7,510	*	PHH Corp		158
	15,778	*	Safeguard Scientifics, Inc		198
	92,049		SEI Investments Co		1,872
	463,000		Singapore Exchange Ltd		3,176
	497,483		State Street Corp		18,735
	760	*	Stifel Financial Corp		35
	252,140		T Rowe Price Group, Inc		12,623
	388	*	Toronto Dominion Bank/ny		28
	29,020	*	TradeStation Group, Inc		191
			TOTAL DIVERSIFIED FINANCIALS		269,962
ENERGY - 5.6%
	256,504	*	Allis-Chalmers Energy, Inc		1,070
	347,533		Apache Corp		33,976
	49,684	*	Atlas America, Inc		1,423
	234,101	*	ATP Oil & Gas Corp		3,195
	4,366	*	Atwood Oceanics, Inc		133
	37,958		Berry Petroleum Co (Class A)		1,204
	699,862		BG Group plc		12,297
	83,200	*	BPZ Energy, Inc		319
	2,730	*	Brigham Exploration Co		51
	9,766	*	Bronco Drilling Co, Inc		39
	108,819		Cabot Oil & Gas Corp		3,277
	135,202	*	Cairn Energy plc		963
	7,080	*	Cal Dive International, Inc		39
	193,317	*	Cameron International Corp		8,305
	110,600		Canadian Oil Sands Trust		2,737
	21,895		CARBO Ceramics, Inc		1,773
	5,590	*	Carrizo Oil & Gas, Inc		134
	165,800		Cenovus Energy, Inc		4,768
	794,231		Chesapeake Energy Corp		17,989
	110,102		Cimarex Energy Co		7,287
	258,739	*	Clean Energy Fuels Corp		3,677
	38,527	*	Compagnie Generale de Geophysique S.A.		846
	48,215	*	Complete Production Services, Inc		986
	43,560	*	Contango Oil & Gas Co		2,185
	103,000		Cosmo Oil Co Ltd		269
	184,621	*	Crosstex Energy, Inc		1,459
	6,000	*	Dawson Geophysical Co		160
	447,492	*	Denbury Resources, Inc		7,111
	481,844		Devon Energy Corp		31,196
	214,686		Diamond Offshore Drilling, Inc		14,549
	1,400	*	Dresser-Rand Group, Inc		52
	14,074	*	Dril-Quip, Inc		874
	828,033		El Paso Corp		10,251
	85,437		Enbridge, Inc		4,475
	575,176		ENI S.p.A.		12,412
	279,833		EOG Resources, Inc		26,016
	350,471		Equitable Resources, Inc		12,638

337

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	26,900		EXCO Resources, Inc	$	400
	8,401	*	Exterran Holdings, Inc		191
	108,543	*	FMC Technologies, Inc		7,412
	12,700		Fugro NV		835
	70,800		Galp Energia SGPS S.A.		1,222
	164,944	*	Global Industries Ltd		902
	16,840	*	GMX Resources, Inc		82
	47,478	*	Goodrich Petroleum Corp		692
	22,906		Gulf Island Fabrication, Inc		417
	60,130	*	Gulfmark Offshore, Inc		1,847
	12,100	*	Gulfport Energy Corp		167
	102,725	*	Hercules Offshore, Inc		272
	432,788		Hess Corp		25,586
	151,299	*	Hornbeck Offshore Services, Inc		2,949
	1,300		Idemitsu Kosan Co Ltd		111
	670		Inpex Holdings, Inc		3,154
	49,728	*	ION Geophysical Corp		256
	5,100		Japan Petroleum Exploration Co		192
	4,180	*	Key Energy Services, Inc		40
	3,216	*	Kinder Morgan Management LLC		194
	12,938		Lufkin Industries, Inc		568
	795,508		Marathon Oil Corp		26,331
	1,900	*	Mariner Energy, Inc		46
	1,478,000	*	Mongolia Energy Co ltd		613
	502,701		National Oilwell Varco, Inc		22,355
	101,331		Neste Oil Oyj		1,583
	145,045	*	Newfield Exploration Co		8,331
	197,577		Nexen, Inc		3,975
	119,405		Noble Corp		4,035
	303,694		Noble Energy, Inc		22,804
	11,050	*	Northern Oil And Gas, Inc		187
	10,868	*	Oceaneering International, Inc		585
	14,886	*	Oil States International, Inc		693
	133,037		OMV AG.		4,980
	368,600		Origin Energy Ltd		5,647
	1,130		Overseas Shipholding Group, Inc		39
	2,970	*	OYO Geospace Corp		172
	116,560	*	Parker Drilling Co		507
	246,526	*	PetroHawk Energy Corp		3,979
	32,190	*	Petroleum Development Corp		888
	67,500	*	Petroquest Energy, Inc		411
	86,690	*	Pioneer Drilling Co		553
	179,870		Pioneer Natural Resources Co		11,697
	166,370	*	Pride International, Inc		4,896
	283,147		Questar Market Resources, Inc		8,534
	116,576	*	Quicksilver Resources, Inc		1,469
	91,308		Range Resources Corp		3,482
	769,765	*	Rentech, Inc		759
	293,175		Repsol YPF S.A.		7,552
	36,777	*	Rex Energy Corp		471
	13,890	*	Rosetta Resources, Inc		326
	9,820		RPC, Inc		208

338

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	19,311		Saipem S.p.A.	$	773
	11,371	*	SandRidge Energy, Inc		65
	439,137		Santos Ltd		5,437
	400	*	SEACOR Holdings, Inc		34
	229,704	*	Southwestern Energy Co		7,681
	1,167,992		Spectra Energy Corp		26,339
	82,840		St. Mary Land & Exploration Co		3,103
	338,760		Statoil ASA		7,068
	330,004		Suncor Energy, Inc		10,745
	47,223		Sunoco, Inc		1,724
	63,016	*	Swift Energy Co		1,769
	283,300		Talisman Energy, Inc		4,956
	6,769		Technip S.A.		544
	126,056		Tenaris S.A.		2,418
	800		Tidewater, Inc		36
	174,100		TransCanada Corp		6,459
	167,904		Tullow Oil plc		3,360
	132,614	*	Ultra Petroleum Corp		5,567
	41,805	*	Unit Corp		1,559
	70,198	*	Venoco, Inc		1,378
	68,320		W&T Offshore, Inc		724
	222,688	*	Weatherford International Ltd		3,808
	46,955	*	Whiting Petroleum Corp		4,485
	665,489		Williams Cos, Inc		12,717
	23,892		WorleyParsons Ltd		514
			TOTAL ENERGY		538,995
FOOD & STAPLES RETAILING - 1.7%
	114,200		Aeon Co Ltd		1,226
	179,256		Carrefour S.A.		9,632
	1,300		Casey’s General Stores, Inc		54
	3,876		Casino Guichard Perrachon S.A.		355
	472,434		Costco Wholesale Corp		30,468
	880,423		CVS Corp		27,708
	10,250		Delhaize Group		743
	2,301	*	Great Atlantic & Pacific Tea Co, Inc		9
	46,668		J Sainsbury plc		286
	54,500		Jeronimo Martins SGPS S.A.		729
	6,988		Kesko Oyj (B Shares)		328
	216,057		Koninklijke Ahold NV		2,912
	339,985		Kroger Co		7,364
	9,800		Lawson, Inc		449
	30,900		Loblaw Cos Ltd		1,224
	58,366		Metro AG.		3,799
	8,100		Metro, Inc		351
	13,956		Nash Finch Co		594
	1,400		Ruddick Corp		49
	407,601		Safeway, Inc		8,625
	89,900		Seven & I Holdings Co Ltd		2,106
	18,582		Spartan Stores, Inc		269
	819,575		Sysco Corp		23,374
	1,655,276		Tesco plc		11,025

339

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,270	*	United Natural Foods, Inc	$	42
	770,158		Walgreen Co		25,801
	59,485	*	Whole Foods Market, Inc		2,207
	2,600	*	Winn-Dixie Stores, Inc		19
	28,443		WM Morrison Supermarkets plc		132
	157,977		Woolworths Ltd		4,404
			TOTAL FOOD & STAPLES RETAILING		166,284
FOOD, BEVERAGE & TOBACCO - 2.4%
	97,000		Ajinomoto Co, Inc		949
	400		Alico, Inc		9
	25,518		Aryzta AG.		1,117
	95,701		Associated British Foods plc		1,577
	322,028		Campbell Soup Co		11,513
	189,544		Coca Cola Hellenic Bottling Co S.A.		5,003
	79,318		Coca-Cola Enterprises, Inc		2,459
	75,475		ConAgra Foods, Inc		1,656
	5,450	*	Darling International, Inc		46
	8,757	*	Dean Foods Co		89
	2,800		Del Monte Foods Co		37
	1,010		Diamond Foods, Inc		41
	1,400		Flowers Foods, Inc		35
	744,260		General Mills, Inc		27,195
	20,437	*	Green Mountain Coffee Roasters, Inc		637
	169,225		Groupe Danone		10,122
	341,849		H.J. Heinz Co		16,193
	2,100	*	Hain Celestial Group, Inc		50
	12,910	*	Hansen Natural Corp		602
	9,587		Hormel Foods Corp		428
	37,588		J.M. Smucker Co		2,275
	428,859		Kellogg Co		21,662
	13,388		Kerry Group plc (Class A)		470
	31,000		Kikkoman Corp		342
	1,133,238		Kraft Foods, Inc (Class A)		34,971
	2,677		Lancaster Colony Corp		127
	1,600		Lance, Inc		34
	21,747		McCormick & Co, Inc		914
	28,500		Nisshin Seifun Group, Inc		375
	10,900		Nissin Food Products Co Ltd		394
	879,456		PepsiCo, Inc		58,430
	1,876	*	Ralcorp Holdings, Inc		110
	9,100		Saputo, Inc		311
	556,346		Sara Lee Corp		7,472
	10,773		Tootsie Roll Industries, Inc		268
	890	*	TreeHouse Foods, Inc		41
	334,862		Unilever NV		10,009
	339,269		Unilever plc		9,812
	68,900	*	Viterra, Inc		601
	40,900		Yakult Honsha Co Ltd		1,263
			TOTAL FOOD, BEVERAGE & TOBACCO		229,639

340

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 2.1%
	478,977		Aetna, Inc	$	15,140
	1,880	*	American Medical Systems Holdings, Inc		37
	10,800	*	Amsurg Corp		189
	3,704		Analogic Corp		166
	1,610	*	athenahealth, Inc		54
	596,744		Baxter International, Inc		28,471
	62,688		Beckman Coulter, Inc		3,059
	315,215		Becton Dickinson & Co		23,357
	3,600	*	CardioNet, Inc		16
	22,716	*	Catalyst Health Solutions, Inc		800
	39,170	*	Centene Corp		924
	9,990		Chemed Corp		569
	1,190		Cigna Corp		43
	2,310	*	Conceptus, Inc		32
	4,670	*	Corvel Corp		198
	1,930	*	Coventry Health Care, Inc		42
	115,816		Dentsply International, Inc		3,703
	3,100	*	Gen-Probe, Inc		150
	12,050	*	Greatbatch, Inc		279
	730	*	Haemonetics Corp		43
	5,210	*	Health Management Associates, Inc (Class A)		40
	20,090	*	Healthways, Inc		234
	16,830	*	Henry Schein, Inc		986
	69,737		Hill-Rom Holdings, Inc		2,503
	760	*	HMS Holdings Corp		45
	28,636	*	Hospira, Inc		1,633
	100,596	*	Humana, Inc		5,054
	39,913	*	Idexx Laboratories, Inc		2,463
	1,200	*	Integra LifeSciences Holdings Corp		47
	12,868	*	Intuitive Surgical, Inc		3,651
	4,500		Invacare Corp		119
	50,813	*	Inverness Medical Innovations, Inc		1,572
	29,553	*	Kinetic Concepts, Inc		1,081
	50,210	*	LifePoint Hospitals, Inc		1,760
	1,760		Masimo Corp		48
	49,747		McKesson Corp		3,073
	1,730	*	MedAssets, Inc		36
	104,927	*	Medco Health Solutions, Inc		5,462
	959,020		Medtronic, Inc		32,204
	2,350		Meridian Bioscience, Inc		51
	1,166	*	Merit Medical Systems, Inc		19
	27,680	*	Molina Healthcare, Inc		747
	8,672	*	MWI Veterinary Supply, Inc		501
	69,800		Olympus Corp		1,828
	3,000	*	Omnicell, Inc		39
	8,337		Owens & Minor, Inc		237
	1,888	*	Palomar Medical Technologies, Inc		20
	78,813		Patterson Cos, Inc		2,258
	24,754	*	PharMerica Corp		236
	2,500	*	PSS World Medical, Inc		53
	149,912		Quest Diagnostics, Inc		7,566
	22,842	*	Resmed, Inc		749

341

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,120	*	Sirona Dental Systems, Inc	$	40
	246,114	*	St. Jude Medical, Inc		9,682
	40,359		STERIS Corp		1,341
	3,100		Universal American Financial Corp		46
	1,840	*	Volcano Corp		48
	507,512	*	WellPoint, Inc		28,746
	1,000		West Pharmaceutical Services, Inc		34
	2,100	*	Wright Medical Group, Inc		30
	189,025	*	Zimmer Holdings, Inc		9,892
	5,140	*	Zoll Medical Corp		166
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		203,612
HOUSEHOLD & PERSONAL PRODUCTS - 1.9%
	5,870		Alberto-Culver Co		221
	254,286		Avon Products, Inc		8,165
	9,680		Beiersdorf AG.		593
	7,875		Church & Dwight Co, Inc		511
	69,468		Clorox Co		4,638
	281,781		Colgate-Palmolive Co		21,658
	38,043		Estee Lauder Cos (Class A)		2,405
	57		Henkel KGaA		3
	156,880		Henkel KGaA (Preference)		8,426
	181,200		Kao Corp		4,415
	405,376		Kimberly-Clark Corp		26,370
	63,795		L’Oreal S.A.		7,173
	1,610		Nu Skin Enterprises, Inc (Class A)		46
	1,297,144		Procter & Gamble Co		77,789
	152,666		Reckitt Benckiser Group plc		8,396
	190,000		Shiseido Co Ltd		4,265
	18,375	*	USANA Health Sciences, Inc		742
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		175,816
INSURANCE - 2.4%
	509,543		Aflac, Inc		26,348
	762	*	Alleghany Corp		231
	4,400		American Equity Investment Life Holding Co		45
	7,900		American Physicians Capital, Inc		328
	812,660		AMP Ltd		4,014
	20,351	*	Arch Capital Group Ltd		1,705
	1,500		Arthur J. Gallagher & Co		40
	126,789		Aspen Insurance Holdings Ltd		3,839
	421,772		Assicurazioni Generali S.p.A.		8,492
	96,941		Assurant, Inc		3,945
	18,354		Axis Capital Holdings Ltd		605
	459,824		Chubb Corp		26,205
	402,055		Cincinnati Financial Corp		11,599
	82,456		CNP Assurances		1,532
	135,277	*	Crawford & Co (Class B)		329
	1,400		Donegal Group, Inc (Class A)		18
	2,400		Employers Holdings, Inc		38
	49,047		Endurance Specialty Holdings Ltd		1,952
	27,664		Erie Indemnity Co (Class A)		1,551

342

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	8,696		Everest Re Group Ltd	$	752
	1,876	*	Fpic Insurance Group, Inc		66
	543,648	*	Genworth Financial, Inc (Class A)		6,643
	22,550		Hanover Insurance Group, Inc		1,060
	1,200		Harleysville Group, Inc		39
	3,500	*	Hilltop Holdings, Inc		34
	418,327		Insurance Australia Group Ltd		1,472
	368,494		Lincoln National Corp		8,814
	5,014	*	Markel Corp		1,728
	4,850		Meadowbrook Insurance Group, Inc		44
	116,855		Montpelier Re Holdings Ltd		2,024
	65,128		Muenchener Rueckver AG.		9,021
	28,670	*	National Financial Partners Corp		363
	700	*	Navigators Group, Inc		31
	1,914,376		Old Mutual plc		4,174
	8,322		PartnerRe Ltd		667
	327,177	*	Phoenix Cos, Inc		687
	53,051		Platinum Underwriters Holdings Ltd		2,309
	328,986		Principal Financial Group		8,527
	700	*	ProAssurance Corp		40
	857,690		Progressive Corp		17,900
	33,822		Protective Life Corp		736
	626,239		Prudential plc		6,262
	700		RLI Corp		40
	1,126,876		Royal & Sun Alliance Insurance Group plc		2,314
	900		Safety Insurance Group, Inc		38
	2,400		Selective Insurance Group, Inc		39
	5,540		Stancorp Financial Group, Inc		211
	807,825		Standard Life plc		2,934
	532,520		Suncorp-Metway Ltd		4,632
	140,685		Swiss Reinsurance Co		6,169
	88,990		T&D Holdings, Inc		1,855
	545,999		Travelers Cos, Inc		28,446
	277,063		UnumProvident Corp		6,137
	120,475		W.R. Berkley Corp		3,261
	100		Wesco Financial Corp		36
	130		White Mountains Insurance Group Ltd		40
	200,570		XL Capital Ltd		4,344
			TOTAL INSURANCE		226,705
MATERIALS - 4.0%
	37,300		Acerinox S.A.		664
	57,558		Agnico-Eagle Mines Ltd		4,092
	20,600		Agrium, Inc (Toronto)		1,546
	87,628		Air Liquide		10,690
	319,531		Air Products & Chemicals, Inc		26,464
	21,000		Air Water, Inc		250
	6,480		Airgas, Inc		440
	19,300		Akzo Nobel NV		1,191
	1,136,280		Alcoa, Inc		13,760
	66,030		Allegheny Technologies, Inc		3,067
	11,215	*	Allied Nevada Gold Corp		297

343

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,087,717		Alumina Ltd	$	1,903
	122,822		AMCOL International Corp		3,217
	279,194		Antofagasta plc		5,421
	21,600		Aptargroup, Inc		986
	1,400		Arch Chemicals, Inc		49
	203,000		Asahi Kasei Corp		1,119
	18,822		Ball Corp		1,108
	88,945		BASF AG.		5,609
	86,309		Bemis Co		2,740
	364,120		BlueScope Steel Ltd		774
	13,556		Boliden AB		205
	52,800		Buckeye Technologies, Inc		777
	27,330	*	Calgon Carbon Corp		396
	1,160		Carpenter Technology Corp		39
	50,895	*	Castle (A.M.) & Co		674
	72,203		Cimpor Cimentos de Portugal S.A.		465
	1,186	*	Clearwater Paper Corp		90
	114,073		Cleveland-Cliffs, Inc		7,292
	30,032	*	Coeur d’Alene Mines Corp		598
	110,909		Commercial Metals Co		1,607
	10,420		Compass Minerals International, Inc		798
	270,968		CRH plc		4,448
	7,955		Domtar Corporation		514
	74,000		Dowa Holdings Co Ltd		441
	5,800		DSM NV		297
	900		Eastman Chemical Co		67
	370,453		Ecolab, Inc		18,797
	5,690	*	Ferro Corp		73
	630,839	*	Fortescue Metals Group Ltd		3,177
	74,210	*	General Moly, Inc		272
	1,052		Givaudan S.A.		1,075
	22,564		Glatfelter		274
	104,200		Goldcorp, Inc		4,527
	84,077		H.B. Fuller Co		1,671
	41,614		HeidelbergCement AG.		2,005
	30,000		Hitachi Metals Ltd		353
	53,966		Holcim Ltd		3,465
	2,400		Holmen AB (B Shares)		74
	39,200	*	Horsehead Holding Corp		387
	49,200		Inmet Mining Corp		2,741
	22,086		Innophos Holdings, Inc		731
	1,000		International Flavors & Fragrances, Inc		49
	248,742		International Paper Co		5,410
	1,630	*	Intrepid Potash, Inc		42
	154,662		Israel Chemicals Ltd		2,182
	48,900		JSR Corp		832
	77,699		K+S AG.		4,652
	38,000		Kaneka Corp		228
	208,700		Kinross Gold Corp		3,915
	58,000		Kuraray Co Ltd		732
	46,374		Linde AG.		6,036
	39,055	*	Lonmin plc		1,024

344

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	121,887	*	Louisiana-Pacific Corp	$	923
	60,839		Lubrizol Corp		6,447
	99,243		MacArthur Coal Ltd		1,125
	247,695		MeadWestvaco Corp		6,038
	24,336		Minerals Technologies, Inc		1,434
	297,500		Mitsubishi Chemical Holdings Corp		1,511
	48,000		Mitsubishi Gas Chemical Co, Inc		279
	319,000	*	Mitsubishi Materials Corp		917
	120,960		Mitsui Chemicals, Inc		326
	475,000		Mitsui Mining & Smelting Co Ltd		1,360
	2,100		Myers Industries, Inc		18
	47,300		Nalco Holding Co		1,192
	2,220		Neenah Paper, Inc		34
	227,840		Newcrest Mining Ltd		8,736
	1,787,000		Nippon Steel Corp		6,079
	212,000		Nisshin Steel Co Ltd		378
	31,500		Nitto Denko Corp		1,232
	577,043		Norsk Hydro ASA		3,483
	6,330		Novozymes AS (B Shares)		805
	414,559		Nucor Corp		15,836
	29,346		Olympic Steel, Inc		675
	1,370	*	OM Group, Inc		41
	439,577		OneSteel Ltd		1,245
	43,142		Orica Ltd		1,072
	34,763	*	Owens-Illinois, Inc		975
	863,952		Oxiana Ltd		1,215
	1,390	*	Pactiv Corp		46
	31,500		Potash Corp of Saskatchewan Toronto		4,515
	328,293		Praxair, Inc		29,632
	1,380		Quaker Chemical Corp		45
	30,024		Rautaruukki Oyj		621
	127,308		Reliance Steel & Aluminum Co		5,287
	15,189		Rock-Tenn Co (Class A)		757
	152,260		Royal Gold, Inc		7,589
	13,953		Salzgitter AG.		904
	850		Schnitzer Steel Industries, Inc (Class A)		41
	48,265		Sealed Air Corp		1,085
	34,028		Sensient Technologies Corp		1,038
	92,200		Shin-Etsu Chemical Co Ltd		4,490
	200,228		Sigma-Aldrich Corp		12,090
	52,391		Sims Group Ltd		893
	10,200		Solvay S.A.		1,088
	105,431		Sonoco Products Co		3,526
	11,100	*	Spartech Corp		91
	67,100		Ssab Svenskt Stal AB (Series A)		1,070
	45,637		Ssab Svenskt Stal AB (Series B)		641
	181,246		Steel Dynamics, Inc		2,557
	600		Stepan Co		35
	44,488	*	Stillwater Mining Co		749
	153,116		Stora Enso Oyj (R Shares)		1,513
	360,000		Sumitomo Chemical Co Ltd		1,578
	1,291,000		Sumitomo Metal Industries Ltd		3,263

345

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	331,000		Sumitomo Metal Mining Co Ltd	$	5,055
	121,590		Svenska Cellulosa AB (B Shares)		1,849
	42,000		Taiyo Nippon Sanso Corp		357
	165,100		Teck Cominco Ltd		6,791
	74,000		Teijin Ltd		245
	56,675		Temple-Inland, Inc		1,058
	68,329	*	Titanium Metals Corp		1,364
	305,000		Toray Industries, Inc		1,699
	41,000		Tosoh Corp		111
	117,300		Toyo Seikan Kaisha Ltd		2,113
	268,000		UBE Industries Ltd		594
	15,649		Umicore		676
	375,904		United States Steel Corp		16,481
	133,335		UPM-Kymmene Oyj		2,285
	21,086	*	US Gold Corp		105
	45,540		Valspar Corp		1,450
	28,882		Voestalpine AG.		1,064
	112,777		Vulcan Materials Co		4,164
	10,800	*	Wausau Paper Corp		90
	260,642		Worthington Industries, Inc		3,917
	665,023		Xstrata plc		12,724
	254,700		Yamana Gold, Inc		2,904
	8,300		Yamato Kogyo Co Ltd		201
	20,900		Yara International ASA		945
	6,400	*	Zoltek Cos, Inc		62
			TOTAL MATERIALS		385,643
MEDIA - 1.6%
	1,380		Arbitron, Inc		39
	107,294	*	Discovery Communications, Inc (Class A)		4,673
	55,452	*	Discovery Communications, Inc (Class C)		2,118
	48,307	*	DreamWorks Animation SKG, Inc (Class A)		1,541
	33,529	*	Entercom Communications Corp (Class A)		264
	345,020	*	Entravision Communications Corp (Class A)		687
	78,791	*	EW Scripps Co (Class A)		621
	22,077	*	Fisher Communications, Inc		385
	40,459		Harte-Hanks, Inc		472
	11,122		John Wiley & Sons, Inc (Class A)		454
	215,606	*	Journal Communications, Inc (Class A)		972
	11,413		Lagardere S.C.A.		446
	39,506	*	Lamar Advertising Co (Class A)		1,257
	274,436	*	Liberty Global, Inc (Class A)		8,455
	250,634	*	Lin TV Corp (Class A)		1,113
	212,923	*	McClatchy Co (Class A)		837
	81,220	*	Mediacom Communications Corp (Class A)		537
	35,360		Meredith Corp		1,178
	195,819	*	New York Times Co (Class A)		1,516
	428,809		Omnicom Group, Inc		16,929
	551,411		Pearson plc		8,537
	1,550		Scholastic Corp		43
	123,844		Scripps Networks Interactive (Class A)		5,892
	2,507,877	*	Sirius XM Radio, Inc		3,009

346

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY		VALUE (000)
	137,161		Thomson Corp (Toronto)	$	5,156
	394,679		Time Warner Cable, Inc		21,309
	315,030		Virgin Media, Inc		7,252
	1,299,088		Walt Disney Co		43,013
	18,736		Washington Post Co (Class B)		7,483
	25,400		Wolters Kluwer NV		533
	683,960		WPP plc		7,569
	239,700		Yellow Pages Income Fund		1,291
			TOTAL MEDIA		155,581
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 4.6%
	434,286		Abbott Laboratories		22,687
	931	*	Abraxis Bioscience, Inc		72
	17,804	*	Affymetrix, Inc		81
	63,861	*	Akorn, Inc		258
	31,284	*	Alexion Pharmaceuticals, Inc		2,013
	13,974	*	Alkermes, Inc		205
	251,413		Allergan, Inc		16,727
	1,400	*	Alnylam Pharmaceuticals, Inc		17
	718,472	*	Amgen, Inc		39,596
	62	*	Amylin Pharmaceuticals, Inc		1
	16,702	*	Arena Pharmaceuticals, Inc		26
	61,621	*	Ariad Pharmaceuticals, Inc		235
	167,180		Astellas Pharma, Inc		6,038
	13,508	*	Auxilium Pharmaceuticals, Inc		335
	235,505	*	Biogen Idec, Inc		13,217
	55,710	*	BioMimetic Therapeutics, Inc		635
	400	*	Bio-Rad Laboratories, Inc (Class A)		36
	34,162	*	Biovail Corp		856
	1,366,323		Bristol-Myers Squibb Co		37,041
	25,700	*	Bruker BioSciences Corp		361
	28,175	*	Celera Corp		190
	50,897	*	Cepheid, Inc		952
	171,400		Chugai Pharmaceutical Co Ltd		3,150
	64,111		CSL Ltd		2,048
	1,940	*	Cubist Pharmaceuticals, Inc		45
	17,881	*	Cypress Bioscience, Inc		69
	68,874	*	Dendreon Corp		2,836
	500	*	Dionex Corp		43
	251,617	*	Durect Corp		639
	18,820	*	Dyax Corp		45
	77,670	*	Endo Pharmaceuticals Holdings, Inc		2,582
	227,606	*	Genzyme Corp		16,113
	29,826	*	Geron Corp		165
	810,723	*	Gilead Sciences, Inc		28,871
	873,859		GlaxoSmithKline plc		17,221
	4,270	*	Immunogen, Inc		27
	104,026	*	Incyte Corp		1,663
	54,690	*	Isis Pharmaceuticals, Inc		459
	1,319,519		Johnson & Johnson		81,756
	49,905	*	Life Technologies Corp		2,330
	1,540,574		Merck & Co, Inc		56,708

347

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	6,209		Merck KGaA	$	522
	235,303	*	Nektar Therapeutics		3,475
	71,281	*	Neurocrine Biosciences, Inc		432
	353,003		Novartis AG.		20,243
	122,745		Novo Nordisk AS (Class B)		12,181
	1,100	*	Onyx Pharmaceuticals, Inc		29
	28,980	*	Orexigen Therapeutics, Inc		172
	23,481		PDL BioPharma, Inc		124
	1,900		PerkinElmer, Inc		44
	21,168	*	Pharmasset, Inc		624
	73,809	*	Pozen, Inc		523
	27,366	*	Progenics Pharmaceuticals, Inc		138
	25,743	*	Regeneron Pharmaceuticals, Inc		705
	120,117		Roche Holding AG.		16,404
	72,210	*	Salix Pharmaceuticals Ltd		2,868
	9,262	*	Savient Pharmaceuticals, Inc		212
	3,300	*	Seattle Genetics, Inc		51
	7,300	*	Sequenom, Inc		51
	24,140	*	SIGA Technologies, Inc		204
	1,297	*	Synta Pharmaceuticals Corp		5
	127,400		Takeda Pharmaceutical Co Ltd		5,853
	2,390		Techne Corp		148
	3,140	*	Theravance, Inc		63
	204,698	*	Thermo Electron Corp		9,800
	11,024	*	United Therapeutics Corp		617
	3,900	*	Viropharma, Inc		58
	88,049	*	Vivus, Inc		589
	62,597	*	Waters Corp		4,431
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		438,915
REAL ESTATE - 1.2%
	2,571		Acadia Realty Trust		49
	55,900		Aeon Mall Co Ltd		1,359
	620		Alexandria Real Estate Equities, Inc		43
	37,122		AMB Property Corp		983
	1,500		American Campus Communities, Inc		46
	570,361		Annaly Mortgage Management, Inc		10,037
	113,850		Anworth Mortgage Asset Corp		812
	394,785	*	Ashford Hospitality Trust, Inc		3,573
	301	*	Avatar Holdings, Inc		6
	1,500		BioMed Realty Trust, Inc		27
	86,695		Boston Properties, Inc		7,205
	600		Brandywine Realty Trust		7
	1,010		BRE Properties, Inc (Class A)		42
	195,440		British Land Co plc		1,428
	3,200		Capital Lease Funding, Inc		18
	62,720		Capstead Mortgage Corp		682
	134,668	*	CB Richard Ellis Group, Inc (Class A)		2,462
	25,300		CBL & Associates Properties, Inc		330
	21,544		Cedar Shopping Centers, Inc		131
	10,750		Chimera Investment Corp		42
	1,080		Corporate Office Properties Trust		40

348

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	5,829		Cousins Properties, Inc	$	42
	198,000		Daiwa House Industry Co Ltd		1,992
	2,000,999		DB RREEF Trust		1,654
	4,630		DiamondRock Hospitality Co		44
	24,718		Digital Realty Trust, Inc		1,525
	2,780		Douglas Emmett, Inc		49
	173,397		Duke Realty Corp		2,010
	1,000		EastGroup Properties, Inc		37
	6,440		Education Realty Trust, Inc		46
	2,600		Equity One, Inc		44
	2,900		Extra Space Storage, Inc		47
	11,054		Federal Realty Investment Trust		903
	166,347	*	FelCor Lodging Trust, Inc		765
	276,111	*	First Industrial Realty Trust, Inc		1,400
	2,300		First Potomac Realty Trust		35
	12,398	*	Forest City Enterprises, Inc (Class A)		159
	26,565	*	Forestar Real Estate Group, Inc		453
	2,600		Franklin Street Properties Corp		32
	52,310		Glimcher Realty Trust		322
	297,596		GPT Group (ASE)		846
	1,200		Hatteras Financial Corp		34
	112,205		HCP, Inc		4,036
	65,528		Health Care REIT, Inc		3,102
	2,000		Healthcare Realty Trust, Inc		47
	82,790		Hersha Hospitality Trust		429
	7,346		Highwoods Properties, Inc		239
	559,090		Host Marriott Corp		8,095
	22,144		HRPT Properties Trust		567
	816		Investors Real Estate Trust		7
	547,636	*	iStar Financial, Inc		1,676
	2,160		Jones Lang LaSalle, Inc		186
	1,340		Kilroy Realty Corp		44
	261,715		Kimco Realty Corp		4,121
	279,836		Land Securities Group plc		2,816
	1,880		LaSalle Hotel Properties		44
	16,326		Lexington Corporate Properties Trust		117
	348,312		Liberty International plc		2,012
	44,728		Liberty Property Trust		1,427
	6,565		LTC Properties, Inc		168
	36,619		Macerich Co		1,573
	4,400		Medical Properties Trust, Inc		45
	32,830		MFA Mortgage Investments, Inc		250
	14,820		Mid-America Apartment Communities, Inc		864
	321,032		Mirvac Group		413
	305,810		Mitsui Fudosan Co Ltd		5,158
	343,486		NorthStar Realty Finance Corp		1,285
	1,200		Parkway Properties, Inc		18
	5,168		Post Properties, Inc		144
	504,551		Prologis		5,943
	700		PS Business Parks, Inc		40
	613,167	*	RAIT Investment Trust		1,012
	11,900		Regency Centers Corp		470

349

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	423,884		Segro plc	$	1,818
	2,016		Senior Housing Properties Trust		47
	606,928		Stockland Trust Group		2,253
	1,530		Sun Communities, Inc		47
	4,490	*	Sunstone Hotel Investors, Inc		41
	1,020		Tanger Factory Outlet Centers, Inc		48
	1,060		Taubman Centers, Inc		47
	26,606		UDR, Inc		562
	13,412		Unibail		2,974
	1,100		Universal Health Realty Income Trust		38
	5,660		Urstadt Biddle Properties, Inc (Class A)		102
	5,300		U-Store-It Trust		44
	36,228		Ventas, Inc		1,868
	112,570		Vornado Realty Trust		9,627
	1,500		Washington Real Estate Investment Trust		48
	97,559		Weingarten Realty Investors		2,129
			TOTAL REAL ESTATE		109,802
RETAILING - 2.6%
	2,050		Aaron Rents, Inc		38
	2,050		Advance Auto Parts		120
	83,950		American Eagle Outfitters, Inc		1,256
	10,610	*	AnnTaylor Stores Corp		215
	42,068	*	Autozone, Inc		9,630
	900		Barnes & Noble, Inc		15
	157,245	*	Bed Bath & Beyond, Inc		6,826
	274,012		Best Buy Co, Inc		11,188
	810	*	Blue Nile, Inc		36
	350,721	*	Borders Group, Inc		417
	1,200		Buckle, Inc		32
	1,600		Canadian Tire Corp Ltd		89
	50,476	*	Carmax, Inc		1,406
	10,800		Cato Corp (Class A)		289
	12,190	*	Charming Shoppes, Inc		43
	46,310		Chico’s FAS, Inc		487
	3,400		Christopher & Banks Corp		27
	1,590	*	Dick’s Sporting Goods, Inc		45
	3,973	*	Dress Barn, Inc		94
	1,710	*	DSW, Inc (Class A)		49
	249,700		Esprit Holdings Ltd		1,355
	12,500		Fast Retailing Co Ltd		1,761
	2,586		Finish Line, Inc (Class A)		36
	51,032		Foot Locker, Inc		741
	31,240	*	GameStop Corp (Class A)		616
	473,986		Gap, Inc		8,835
	282,106		Genuine Parts Co		12,579
	1,550	*	Gymboree Corp		64
	2,200		Haverty Furniture Cos, Inc		24
	175,240		Hennes & Mauritz AB (B Shares)		6,346
	1,630	*	hhgregg, Inc		40
	121,498	*	Hibbett Sports, Inc		3,031
	1,299,156		Home Depot, Inc		41,158

350

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	109,700		Home Retail Group	$	355
	19,710		Hot Topic, Inc		118
	36,700	*	HSN, Inc		1,097
	56,720		Inditex S.A.		4,506
	1,150	*	J Crew Group, Inc		39
	129,084		JC Penney Co, Inc		3,509
	1,125	*	JOS A Bank Clothiers, Inc		48
	380,300		Kingfisher plc		1,399
	277,287	*	Kohl’s Corp		14,607
	747,810		Li & Fung Ltd		4,207
	408,896	*	Liberty Media Holding Corp (Interactive A)		5,606
	242,300		Limited Brands, Inc		6,489
	2,500	*	LKQ Corp		52
	1,134,508		Lowe’s Cos, Inc		25,289
	93,736		Macy’s, Inc		2,164
	3,280		Men’s Wearhouse, Inc		78
	1,090		Monro Muffler, Inc		50
	94,376		Nordstrom, Inc		3,511
	78,565	*	Office Depot, Inc		361
	85,068	*	Orbitz Worldwide, Inc		536
	800	*	O’Reilly Automotive, Inc		43
	10,103	*	Overstock.com, Inc		159
	4,580		PEP Boys - Manny Moe & Jack		48
	2,400		PetMed Express, Inc		42
	30,830		Petsmart, Inc		1,079
	9,430	*	Pier 1 Imports, Inc		77
	29,641		RadioShack Corp		632
	10,500	*	Retail Ventures, Inc		113
	5,240	*	Sally Beauty Holdings, Inc		59
	1,800	*	Shoe Carnival, Inc		36
	14,007		Stage Stores, Inc		182
	543,281		Staples, Inc		11,365
	3,300	*	Stein Mart, Inc		29
	4,010	*	Talbots, Inc		53
	646,103		Target Corp		34,528
	38,755		Tiffany & Co		1,821
	397,962		TJX Companies, Inc		17,762
	1,220		Tractor Supply Co		48
	1,820	*	Ulta Salon Cosmetics & Fragrance, Inc		53
	11,490		Williams-Sonoma, Inc		364
			TOTAL RETAILING		251,402
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.4%
	41,575	*	Advanced Energy Industries, Inc		543
	769,561	*	Advanced Micro Devices, Inc		5,472
	22,178	*	Anadigics, Inc		135
	1,298,344		Applied Materials, Inc		15,165
	42,857		ASML Holding NV		1,280
	7,922	*	Cabot Microelectronics Corp		255
	45,210	*	Cree, Inc		2,454
	1,100	*	Cymer, Inc		41
	2,380	*	Diodes, Inc		41

351

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	141,124	*	Energy Conversion Devices, Inc	$	708
	27,519	*	Entegris, Inc		129
	46	*	Evergreen Solar, Inc		0	^
	4,220	*	Fairchild Semiconductor International, Inc		40
	7,010	*	GT Solar International, Inc		59
	7,300	*	Integrated Device Technology, Inc		43
	3,062,201		Intel Corp		58,886
	2,300	*	Kulicke & Soffa Industries, Inc		14
	344,113	*	LSI Logic Corp		1,569
	32,218	*	LTX-Credence Corp		67
	14,183	*	Mattson Technology, Inc		39
	3,840		Micrel, Inc		38
	294,463	*	ON Semiconductor Corp		2,123
	1,300		Power Integrations, Inc		41
	21,351	*	RF Micro Devices, Inc		131
	15,400		Rohm Co Ltd		950
	1,340	*	Rubicon Technology, Inc		30
	2,223	*	Rudolph Technologies, Inc		18
	16,682	*	Sigma Designs, Inc		192
	67,959	*	Skyworks Solutions, Inc		1,405
	65,663		STMicroelectronics NV		503
	228,294	*	Sunpower Corp (Class A)		3,287
	53,521	*	Sunpower Corp (Class B)		742
	4,270	*	Teradyne, Inc		48
	1,163,707		Texas Instruments, Inc		31,583
	10,500	*	Ultratech, Inc		180
	1,190	*	Veeco Instruments, Inc		41
	114,448		Xilinx, Inc		3,045
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		131,297
SOFTWARE & SERVICES - 3.9%
	627,576		Accenture plc		26,666
	373,461	*	Adobe Systems, Inc		9,766
	830	*	Advent Software, Inc		43
	60,961	*	Akamai Technologies, Inc		3,059
	4,609	*	Ansys, Inc		195
	1,790	*	ArcSight, Inc		78
	2,440	*	Ariba, Inc		46
	225,855	*	Art Technology Group, Inc		933
	139,678	*	Autodesk, Inc		4,466
	9,500	*	Blackboard, Inc		342
	103,131		Broadridge Financial Solutions, Inc		2,359
	44,183		CA, Inc		933
	29,200	*	Ciber, Inc		88
	95,888	*	Compuware Corp		818
	940	*	Concur Technologies, Inc		46
	1,910	*	Constant Contact, Inc		41
	3,620	*	Convergys Corp		38
	12,200	*	CSG Systems International, Inc		222
	2,530	*	DealerTrack Holdings, Inc		43
	18,735		Diamond Management & Technology Consultants, Inc		234
	43,241	*	DivX, Inc		412

352

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	70,176		DST Systems, Inc	$	3,147
	97,800		Earthlink, Inc		889
	617,096	*	eBay, Inc		15,057
	27,660	*	Ebix, Inc		649
	2,100		EPIQ Systems, Inc		26
	23,879	*	Equinix, Inc		2,444
	570		Factset Research Systems, Inc		46
	54,216	*	FalconStor Software, Inc		166
	2,253	*	Gartner, Inc		66
	900		Global Payments, Inc		39
	124,216	*	Google, Inc (Class A)		65,312
	69,444	*	Hewitt Associates, Inc (Class A)		3,502
	2,600		iGate Corp		47
	73,887	*	Informatica Corp		2,838
	42,117	*	Internap Network Services Corp		207
	586,937		International Business Machines Corp		78,731
	34,644	*	Intuit, Inc		1,518
	1,740	*	j2 Global Communications, Inc		41
	58,800		Jack Henry & Associates, Inc		1,499
	1,810	*	JDA Software Group, Inc		46
	91,500	*	Lawson Software, Inc		775
	24,926	*	Liquidity Services, Inc		399
	40,415		Marchex, Inc (Class B)		220
	49,167	*	Mentor Graphics Corp		520
	1,210	*	Micros Systems, Inc		51
	3,538,934		Microsoft Corp		86,667
	600	*	MicroStrategy, Inc (Class A)		52
	40,747	*	ModusLink Global Solutions, Inc		259
	14,350	*	NeuStar, Inc (Class A)		357
	165,999		NIC, Inc		1,376
	12,200		Nintendo Co Ltd		3,049
	286,573	*	Novell, Inc		1,711
	104		NTT Data Corp		329
	183,951		Oracle Corp		4,939
	16,200		Pegasystems, Inc		503
	1,500	*	Progress Software Corp		50
	75,439	*	RealNetworks, Inc		246
	54,977	*	S1 Corp		286
	84,209	*	Salesforce.com, Inc		9,415
	88,338		SAP AG.		4,370
	84,070		Sapient Corp		1,006
	51,141	*	Smith Micro Software, Inc		508
	2,000	*	Sourcefire, Inc		58
	714,908	*	Symantec Corp		10,844
	1,700	*	Synopsys, Inc		42
	1,700		Syntel, Inc		76
	1,610	*	Taleo Corp (Class A)		47
	49,300	*	Terremark Worldwide, Inc		510
	141,310	*	TIBCO Software, Inc		2,507
	61,369	*	TNS, Inc		1,040
	207,162		Total System Services, Inc		3,157
	23,000	*	Tyler Technologies, Inc		464

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	15,133	*	Ultimate Software Group, Inc	$	585
	2,370	*	Unisys Corp		66
	31,867		United Online, Inc		182
	32,414	*	Vasco Data Security International		211
	1,500	*	Vocus, Inc		28
	23,300	*	Wright Express Corp		832
	747,133	*	Yahoo!, Inc		10,587
			TOTAL SOFTWARE & SERVICES		375,422
TECHNOLOGY HARDWARE & EQUIPMENT - 2.7%
	1,540	*	Acme Packet, Inc		58
	5,550	*	ADC Telecommunications, Inc		70
	1,400		Adtran, Inc		49
	292,155	*	Agilent Technologies, Inc		9,748
	121,197	*	Agilysys, Inc		788
	2,460	*	Anixter International, Inc		133
	11,531	*	Avid Technology, Inc		151
	43,720	*	Avnet, Inc		1,181
	20,420	*	Benchmark Electronics, Inc		335
	22,202	*	Blue Coat Systems, Inc		534
	3,310	*	Bookham, Inc		53
	223,500		Canon, Inc		10,429
	2,967,546	*	Cisco Systems, Inc		64,990
	70,418	*	Cogent, Inc		749
	4,800		Cognex Corp		129
	129,390	*	Cray, Inc		854
	7,400		CTS Corp		71
	12,100		Daktronics, Inc		119
	1,592,923	*	Dell, Inc		20,644
	2,120	*	DG FastChannel, Inc		46
	3,605	*	DTS, Inc		138
	443,107	*	EMC Corp		9,000
	76,433	*	Finisar Corp		1,436
	74,500		Fuji Folms Holdings Corp		2,468
	592,000		Fujitsu Ltd		4,156
	69,668	*	Harmonic, Inc		479
	1,218,303		Hewlett-Packard Co		51,254
	28,700	*	Ibiden Co Ltd		729
	6,100	*	Infinera Corp		71
	1,900	*	Ingram Micro, Inc (Class A)		32
	22,232	*	InterDigital, Inc		658
	9,686	*	Intermec, Inc		119
	22,664	*	Intevac, Inc		227
	1,920	*	Itron, Inc		118
	118,500		Konica Minolta Holdings, Inc		1,155
	27,700		Kyocera Corp		2,618
	628	*	L-1 Identity Solutions, Inc		7
	43,645	*	Lexmark International, Inc (Class A)		1,947
	1,068	*	Littelfuse, Inc		47
	63,953	*	Loral Space & Communications, Inc		3,338
	2,200		Molex, Inc		46
	2,137,656	*	Motorola, Inc		18,235

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,400		National Instruments Corp	$	46
	155,116	*	NetApp, Inc		7,723
	1,910	*	Netgear, Inc		52
	589,334		Nokia Oyj		5,922
	30,400		Omron Corp		690
	69,596	*	Oplink Communications, Inc		1,381
	40,673		Plantronics, Inc		1,374
	1,420	*	Plexus Corp		42
	57,360	*	Polycom, Inc		1,565
	24,130	*	Power-One, Inc		219
	227,544	*	Powerwave Technologies, Inc		414
	68,816	*	QLogic Corp		1,214
	737,097	*	Quantum Corp		1,563
	112,997	*	Radisys Corp		1,064
	83,800	*	Research In Motion Ltd (Canada)		4,080
	163,000		Ricoh Co Ltd		2,298
	1,470	*	Riverbed Technology, Inc		67
	2,500	*	Rofin-Sinar Technologies, Inc		63
	1,300	*	Scansource, Inc		36
	258,084	*	Seagate Technology, Inc		3,040
	54,795	*	STEC, Inc		682
	8,445		Sycamore Networks, Inc		274
	145,266	*	Symmetricom, Inc		831
	17,463	*	Synaptics, Inc		491
	20,700		TDK Corp		1,154
	3,600	*	Tech Data Corp		145
	40,403	*	Tekelec		524
	205,546		Tellabs, Inc		1,531
	38,795	*	Trimble Navigation Ltd		1,359
	11,800	*	TTM Technologies, Inc		116
	2,300	*	Universal Display Corp		54
	924,458		Xerox Corp		9,568
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		258,991
TELECOMMUNICATION SERVICES - 1.5%
	148,096		Alaska Communications Systems Group, Inc		1,503
	57,012	*	American Tower Corp (Class A)		2,922
	106,900		BCE, Inc		3,478
	337,089		Bezeq Israeli Telecommunication Corp Ltd		840
	22,322		Cellcom Israel Ltd		681
	282,260		CenturyTel, Inc		11,138
	39,411	*	Crown Castle International Corp		1,740
	303,562		France Telecom S.A.		6,559
	1,599,867		Frontier Communications Corp		13,072
	894		KDDI Corp		4,278
	262,448	*	MetroPCS Communications, Inc		2,745
	2,950	*	Neutral Tandem, Inc		35
	103,195	*	NII Holdings, Inc (Class B)		4,241
	4,926		NTT DoCoMo, Inc		8,202
	219,990		Portugal Telecom SGPS S.A.		2,936
	1,942,469		Qwest Communications International, Inc		12,180
	54,500		Rogers Communications, Inc (Class B)		2,040

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	12,514	*	SBA Communications Corp (Class A)	$	504
	50,700		Softbank Corp		1,659
	3,338,335	*	Sprint Nextel Corp		15,457
	20,557		Swisscom AG.		8,291
	56,434	*	Syniverse Holdings, Inc		1,279
	2,598,797		Telecom Italia S.p.A.		3,631
	35,000		Telekom Austria AG.		527
	97,700		Telenor ASA		1,530
	4,734		Telephone & Data Systems, Inc		155
	485,994		TeliaSonera AB		3,937
	61,025	*	tw telecom inc (Class A)		1,133
	2,448	*	US Cellular Corp		113
	8,691,163		Vodafone Group plc		21,450
	647,635		Windstream Corp		7,959
			TOTAL TELECOMMUNICATION SERVICES		146,215
TRANSPORTATION - 1.9%
	173,946		Abertis Infraestructuras S.A.		3,241
	438,715	*	Airtran Holdings, Inc		3,225
	13,811		Alexander & Baldwin, Inc		481
	800		Allegiant Travel Co		34
	1,490		Arkansas Best Corp		36
	623,369		Auckland International Airport Ltd		938
	85,122		Autostrade S.p.A.		1,764
	97,628		Brisa-Auto Estradas de Portugal S.A.		630
	66,237	*	British Airways plc		253
	78,900		Canadian National Railway Co		5,046
	14,500		Canadian Pacific Railway Ltd		886
	597,000		Cathay Pacific Airways Ltd		1,620
	205		Central Japan Railway Co		1,508
	26,343		CH Robinson Worldwide, Inc		1,842
	68,937	*	Continental Airlines, Inc (Class B)		1,712
	423,119		CSX Corp		23,407
	411,879	*	Delta Air Lines, Inc		4,793
	134,669		Deutsche Lufthansa AG.		2,476
	493,298		Deutsche Post AG.		8,947
	20,510	*	Dollar Thrifty Automotive Group, Inc		1,028
	44,000		East Japan Railway Co		2,656
	26,179		Expeditors International Washington, Inc		1,210
	308,768		FedEx Corp		26,400
	1,500		Forward Air Corp		39
	1,613		Fraport AG. Frankfurt Airport Services Worldwide		98
	4,700	*	Genesee & Wyoming, Inc (Class A)		204
	2,200		Heartland Express, Inc		33
	63,185	*	Hertz Global Holdings, Inc		669
	2,064	*	Hub Group, Inc (Class A)		60
	1,100		J.B. Hunt Transport Services, Inc		38
	59,594	*	Kansas City Southern Industries, Inc		2,229
	153,000	*	Kawasaki Kisen Kaisha Ltd		575
	41,000		Keihin Electric Express Railway Co Ltd		396
	46,000		Keio Corp		316
	1,100	*	Kirby Corp		44

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	2,000		Knight Transportation, Inc	$	39
	900		Landstar System, Inc		35
	61,000		Mitsui OSK Lines Ltd		384
	1,471,163		MTR Corp		5,565
	427,907		Norfolk Southern Corp		25,466
	95,900		Odakyu Electric Railway Co Ltd		887
	9,835		Ryder System, Inc		421
	6,502		Skywest, Inc		91
	629,651		Southwest Airlines Co		8,229
	49,137		TNT NV		1,320
	61,000		Tobu Railway Co Ltd		351
	215,000		Tokyu Corp		950
	88,331		Transurban Group		424
	537,296		United Parcel Service, Inc (Class B)		35,833
	1,600		Werner Enterprises, Inc		33
	105,100		Yamato Transport Co Ltd		1,272
			TOTAL TRANSPORTATION		180,134
UTILITIES - 2.9%
	5,000		Acciona S.A.		422
	162,406		AGL Resources, Inc		6,231
	147,159		Alliant Energy Corp		5,349
	134,154		Aqua America, Inc		2,737
	154,309		Atmos Energy Corp		4,514
	322,632		Avista Corp		6,737
	2,700		California Water Service Group		100
	191,538	*	Calpine Corp		2,385
	2,400		Canadian Utilities Ltd		116
	289,986		Centerpoint Energy, Inc		4,559
	22,932		Central Vermont Public Service Corp		463
	1,584,125		Centrica plc		8,050
	22,260		CH Energy Group, Inc		983
	212,000		Cheung Kong Infrastructure Holdings Ltd		842
	393,869		Cleco Corp		11,666
	577,500		CLP Holdings Ltd		4,611
	445,091		Consolidated Edison, Inc		21,462
	137,525	*	Contact Energy Ltd		571
	24,039		DTE Energy Co		1,104
	386,268		NextEra Energy, Inc		21,010
	156,216		Gas Natural SDG S.A.		2,329
	382,804		Hawaiian Electric Industries, Inc		8,628
	1,228,250		Hong Kong & China Gas Ltd		3,109
	149,500		Hong Kong Electric Holdings Ltd		909
	960,344		Iberdrola S.A.		7,388
	329,147		Idacorp, Inc		11,823
	749,969		International Power plc		4,571
	12,040		ITC Holdings Corp		749
	30,844		Laclede Group, Inc		1,062
	1,800		MDU Resources Group, Inc		36
	67,199		MGE Energy, Inc		2,660
	1,085,522		National Grid plc		9,208
	13,270		New Jersey Resources Corp		520

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	103,323		Nicor, Inc	$	4,734
	686,326		NiSource, Inc		11,942
	191,351		Northeast Utilities		5,658
	12,740		Northwest Natural Gas Co		605
	81,478		NSTAR		3,206
	442,404		NV Energy, Inc		5,818
	54,813		Oest Elektrizitatswirts AG. (Class A)		1,965
	9,466		Oneok, Inc		426
	1,420		Ormat Technologies, Inc		41
	897,000		Osaka Gas Co Ltd		3,234
	775,805		Pepco Holdings, Inc		14,430
	190,975		PG&E Corp		8,674
	179,697		Piedmont Natural Gas Co, Inc		5,211
	1,700		Portland General Electric Co		34
	394,877		PPL Corp		10,753
	186,965		Public Power Corp		2,913
	284,337		Questar Corp		4,984
	15,203		SCANA Corp		613
	387,665		Scottish & Southern Energy plc		6,808
	198,129		Sempra Energy		10,659
	30,331		SJW Corp		747
	317,700		Snam Rete Gas S.p.A.		1,609
	61,735		South Jersey Industries, Inc		3,054
	24,429		Southwest Gas Corp		821
	6,599		Suez Environnement S.A.		122
	179,100		Terna Rete Elettrica Nazionale S.p.A.		761
	722,790		Tokyo Gas Co Ltd		3,281
	6,500		TransAlta Corp		139
	61,864		UGI Corp		1,770
	27,622		UIL Holdings Corp		778
	67,641		Veolia Environnement		1,782
	47,867		WGL Holdings, Inc		1,808
	18,096		Wisconsin Energy Corp		1,046
	53,751		Xcel Energy, Inc		1,235
			TOTAL UTILITIES		278,565
			TOTAL COMMON STOCKS		5,742,827
			(Cost $5,071,665)
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	233,115	*	Federal Home Loan Mortgage Corp (FHLMC)		100
	740,991	*	Federal National Mortgage Association (FNMA)		323
			TOTAL BANKS		423
			TOTAL PREFERRED STOCKS		423
			(Cost $24,353)
RIGHTS / WARRANTS - 0.0%
BANKS - 0.0%
	73,275		National Bank of Greece S.A.		36
			TOTAL BANKS		36
			TOTAL RIGHTS / WARRANTS		36
			(Cost $0)

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 8.4%
GOVERNMENT AGENCY DEBT - 6.2%
		Federal Home Loan Bank (FHLB)
$	36,200,000	FHLB	10/06/10	$	36,199
	2,400,000	FHLB	10/08/10		2,400
	4,270,000	FHLB	10/15/10		4,270
	9,245,000	FHLB	10/20/10		9,244
	20,000,000	FHLB	10/27/10		19,999
	25,000,000	FHLB	11/03/10		24,996
	50,000,000	FHLB	11/05/10		49,992
	12,500,000	FHLB	11/17/10		12,494
	45,000,000	FHLB	12/27/10		44,985
		Federal Home Loan Mortgage Corp (FHLMC)
	21,800,000	FHLMC	10/04/10		21,800
	25,075,000	FHLMC	10/18/10		25,073
	15,425,000	FHLMC	10/25/10		15,423
	20,000,000	FHLMC	11/15/10		19,996
	3,000,000	FHLMC	11/16/10		2,999
	17,990,000	FHLMC	11/22/10		17,985
	25,000,000	FHLMC	11/23/10		24,993
	9,600,000	FHLMC	12/14/10		9,597
	25,000,000	FHLMC	12/27/10		24,992
		Federal National Mortgage Association (FNMA)
	8,000,000	FNMA	10/18/10		7,999
	50,000,000	FNMA	11/01/10		49,993
	25,000,000	FNMA	11/03/10		24,996
	42,800,000	FNMA	11/09/10		42,793
	30,000,000	FNMA	11/10/10		29,994
	24,200,000	FNMA	11/17/10		24,195
	25,000,000	FNMA	12/22/10		24,993
	25,000,000	FNMA	03/01/11		24,982
		TOTAL GOVERNMENT AGENCY DEBT			597,382
TREASURY DEBT - 0.1%
	4,900,000	United States Treasury Bill	11/18/10		4,895
		TOTAL TREASURY DEBT			4,895
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.1%
GOVERNMENT AGENCY DEBT - 1.4%
		Federal Home Loan Bank (FHLB)
	37,600,000	FHLB	10/08/10		37,599
	62,500,000	FHLB	11/17/10		62,490
		Federal Home Loan Mortgage Corp (FHLMC)
	3,200,000	FHLMC	10/04/10		3,200
	35,400,000	FHLMC	12/14/10		35,390
		TOTAL GOVERNMENT AGENCY DEBT			138,679
TREASURY DEBT - 0.7%
	46,000,000	United States Treasury Bill	10/21/10		45,995
	20,100,000	United States Treasury Bill	11/18/10		20,097
		TOTAL TREASURY DEBT			66,092
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED			204,771

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES	COMPANY	VALUE (000)
	TOTAL SHORT-TERM INVESTMENTS	$	807,047
	(Cost $807,028)
	TOTAL INVESTMENTS - 106.4%		10,194,534
	(Cost $9,357,201)
	OTHER ASSETS & LIABILITIES, NET - (6.4)%		(617,325	)
	NET ASSETS - 100.0%	$	9,577,209

*	Non-income producing.
^	Amount represents less than $1,000.
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, 2010 the value of these securities amounted to $127,936 or 1.34% of net assets.
h	These securities were purchased on a delayed delivery basis.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.

360

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND
MONEY MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2010

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 100.4%
BANKERS’ ACCEPTANCES - 0.2%
	$     4,632,000		JPMorgan Chase Bank NA			10/21/10	$	4,631
	10,000,000		JPMorgan Chase Bank NA			10/25/10		9,997
	5,350,000		JPMorgan Chase Bank NA			11/22/10		5,346
			TOTAL BANKERS’ ACCEPTANCES					19,974
CERTIFICATE OF DEPOSIT - 8.1%
	50,000,000		Bank of Montreal	0.230	%	10/15/10		50,000
	25,000,000		Bank of Montreal	0.230		10/28/10		25,000
	44,425,000		Bank of Montreal	0.230		10/28/10		44,425
	49,515,000		Bank of Montreal	0.230		12/13/10		49,515
	30,000,000		Bank of Montreal	0.230		12/28/10		30,000
	25,000,000		Bank of Nova Scotia	0.570		10/01/10		25,000
	50,000,000		Bank of Nova Scotia	0.250		10/04/10		50,000
	25,000,000		Bank of Nova Scotia	0.330		10/12/10		25,000
	39,440,000		Bank of Nova Scotia	0.300		10/19/10		39,440
	25,000,000		Bank of Nova Scotia	0.300		10/27/10		25,000
	25,000,000		Bank of Nova Scotia	0.260		11/29/10		25,000
	25,000,000		Bank of Nova Scotia	0.250		12/01/10		25,000
	25,000,000		Bank of Nova Scotia	0.260		12/29/10		25,000
	35,000,000		Bank of Nova Scotia	0.290		01/20/11		35,000
	40,000,000		Barclays Bank plc	0.500		10/20/10		40,000
	45,000,000	i	Barclays Bank plc	0.750		01/11/11		45,000
	25,000,000		Barclays Bank plc	0.470		04/21/11		25,000
	12,930,000		BNP Paribas	0.500		10/18/10		12,930
	30,000,000		BNP Paribas	0.290		12/17/10		30,000
	25,000,000	i	Canadian Imperial Bank of Commerce	0.420		04/28/11		25,000
	50,000,000		Rabobank Nederland NV	0.270		11/08/10		50,001
	20,000,000		Rabobank Nederland NV	0.290		01/06/11		20,000
	40,000,000		Royal Bank of Scotland plc	0.340		11/17/10		40,000
	30,000,000		Societe Generale	0.270		11/02/10		30,000
	50,000,000		Toronto-Dominion Bank	0.210		10/05/10		50,000
	35,000,000		Toronto-Dominion Bank	0.300		10/22/10		35,000
	50,000,000		Toronto-Dominion Bank	0.300		11/08/10		50,000
	29,625,000		Toronto-Dominion Bank	0.240		11/29/10		29,625
	50,000,000	i	Westpac Banking Corp	0.290		10/07/10		50,000
			TOTAL CERTIFICATE OF DEPOSIT					1,005,936
COMMERCIAL PAPER - 41.9%
	25,000,000		American Honda Finance Corp			10/04/10		24,999
	10,000,000		American Honda Finance Corp			10/18/10		9,998
	8,800,000		American Honda Finance Corp			10/19/10		8,799
	45,000,000		American Honda Finance Corp			10/20/10		44,994
	25,000,000		American Honda Finance Corp			11/03/10		24,995
	13,380,000		American Honda Finance Corp			11/19/10		13,375
	4,100,000		American Honda Finance Corp			11/22/10		4,099
	10,000,000		American Honda Finance Corp			11/29/10		9,996
	18,500,000		American Honda Finance Corp			12/06/10		18,492
	30,500,000		American Honda Finance Corp			12/07/10		30,486
	26,100,000		American Honda Finance Corp			12/17/10		26,087
	15,285,000		American Honda Finance Corp			12/21/10		15,276
	10,000,000		Australia & New Zealand Banking Group Ltd			11/18/10		9,995
	59,300,000		Australia & New Zealand Banking Group Ltd			01/10/11		59,257
	25,000,000		Australia & New Zealand Banking Group Ltd			03/16/11		24,964
	20,000,000		Bank of Nova Scotia			10/05/10		19,999
	25,000,000		Bank of Nova Scotia			10/27/10		24,996

361

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     18,760,000	Bank of Nova Scotia		11/19/10	$	18,753
	20,000,000	Bank of Nova Scotia		12/20/10		19,989
	25,000,000	Barclays US Funding Corp		10/06/10		24,998
	30,000,000	Barclays US Funding Corp		11/19/10		29,990
	15,000,000	Barclays US Funding Corp		05/27/11		14,942
	20,000,000	BNP Paribas Finance, Inc		10/18/10		19,997
	30,000,000	BNP Paribas Finance, Inc		10/19/10		29,996
	25,000,000	BNP Paribas Finance, Inc		11/03/10		24,994
	25,000,000	BNP Paribas Finance, Inc		11/16/10		24,990
	35,000,000	BNP Paribas Finance, Inc		12/02/10		34,981
	75,000,000	Canadian Imperial Holdings, Inc		10/04/10		74,999
	50,000,000	Canadian Imperial Holdings, Inc		10/12/10		49,997
	30,000,000	Canadian Imperial Holdings, Inc		11/29/10		29,990
	25,000,000	Caterpillar Financial Services Corp		10/07/10		24,999
	16,750,000	Coca-Cola Co		10/07/10		16,749
	7,610,000	Coca-Cola Co		10/15/10		7,609
	44,975,000	Coca-Cola Co		10/29/10		44,966
	45,690,000	Coca-Cola Co		11/01/10		45,681
	20,000,000	Coca-Cola Co		11/02/10		19,996
	50,000,000	Coca-Cola Co		11/16/10		49,986
	6,250,000	Coca-Cola Co		11/29/10		6,246
	8,000,000	Coca-Cola Co		12/01/10		7,997
	19,000,000	Coca-Cola Co		12/31/10		18,988
	25,720,000	Coca-Cola Co		01/04/11		25,703
	10,827,000	Coca-Cola Co		01/19/11		10,819
	21,000,000	Commonwealth Bank of Australia		10/01/10		21,000
	24,000,000	Commonwealth Bank of Australia		10/21/10		23,996
	10,000,000	Commonwealth Bank of Australia		10/28/10		9,998
	10,000,000	Commonwealth Bank of Australia		11/15/10		9,996
	28,055,000	Commonwealth Bank of Australia		11/29/10		28,044
	30,000,000	Commonwealth Bank of Australia		12/13/10		29,985
	25,000,000	Credit Agricole Corp		11/02/10		24,994
	25,000,000	Credit Agricole North America, Inc		12/21/10		24,983
	16,219,000	Fairway Finance LLC		10/14/10		16,218
	10,000,000	Fairway Finance LLC		10/19/10		9,999
	25,000,000	Fairway Finance LLC		10/20/10		24,997
	10,333,000	Fairway Finance LLC		11/02/10		10,331
	25,020,000	Fairway Finance LLC		12/03/10		25,008
	20,000,000	General Electric Capital Corp		10/19/10		19,998
	30,000,000	General Electric Capital Corp		10/28/10		29,995
	50,000,000	General Electric Capital Corp		11/02/10		49,990
	50,000,000	General Electric Capital Corp		11/24/10		49,982
	50,000,000	ING US Funding LLC		10/08/10		49,997
	8,100,000	ING US Funding LLC		10/21/10		8,099
	16,950,000	ING US Funding LLC		11/09/10		16,945
	3,451,000	International Business Machines Corp		10/06/10		3,451
	18,823,000	Johnson & Johnson		03/09/11		18,806
	25,000,000	Lloyds TSB Bank plc		10/15/10		24,997
	35,000,000	Lloyds TSB Bank plc		11/24/10		34,987
	20,000,000	Lloyds TSB Bank plc		11/29/10		19,991
	21,711,000	Lloyds TSB Bank plc		12/14/10		21,699
	50,000,000	Merck & Co, Inc		10/19/10		49,995
	26,000,000	Microsoft Corp		11/01/10		25,996

362

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     10,730,000	National Australia Funding(Delaware)		10/07/10	$	10,729
	11,000,000	National Australia Funding(Delaware)		11/02/10		10,997
	25,000,000	National Australia Funding(Delaware)		11/15/10		24,992
	25,000,000	National Australia Funding(Delaware)		12/02/10		24,988
	40,000,000	National Australia Funding(Delaware)		12/13/10		39,979
	50,000,000	National Australia Funding(Delaware)		12/17/10		49,970
	20,000,000	National Australia Funding(Delaware)		12/21/10		19,988
	25,000,000	National Australia Funding(Delaware)		01/03/11		24,984
	27,000,000	Nestle Capital Corp		10/04/10		27,000
	50,000,000	Nestle Capital Corp		10/05/10		49,999
	69,500,000	Nestle Capital Corp		10/13/10		69,494
	15,000,000	Nestle Capital Corp		11/10/10		14,995
	37,300,000	Nestle Capital Corp		11/16/10		37,288
	25,000,000	Nestle Capital Corp		11/22/10		24,987
	25,000,000	Nestle Capital Corp		11/29/10		24,984
	15,000,000	Nestle Capital Corp		12/15/10		14,993
	7,440,000	Nestle Capital Corp		12/31/10		7,436
	42,505,000	Nestle Capital Corp		01/14/11		42,475
	15,000,000	Old Line Funding LLC		10/01/10		15,000
	42,820,000	Old Line Funding LLC		10/08/10		42,818
	17,795,000	Old Line Funding LLC		10/15/10		17,792
	15,000,000	Old Line Funding LLC		10/22/10		14,998
	35,000,000	Old Line Funding LLC		11/01/10		34,992
	48,016,000	Old Line Funding LLC		11/09/10		48,002
	28,000,000	Old Line Funding LLC		11/19/10		27,989
	10,000,000	Old Line Funding LLC		12/03/10		9,995
	20,000,000	Old Line Funding LLC		12/06/10		19,990
	30,871,000	Old Line Funding LLC		12/08/10		30,855
	20,000,000	Old Line Funding LLC		12/15/10		19,989
	42,000,000	Private Export Funding Corp		10/06/10		41,999
	15,000,000	Private Export Funding Corp		10/13/10		14,999
	25,000,000	Private Export Funding Corp		11/01/10		24,992
	28,895,000	Private Export Funding Corp		11/04/10		28,886
	21,000,000	Private Export Funding Corp		11/05/10		20,993
	25,000,000	Private Export Funding Corp		11/09/10		24,991
	20,695,000	Private Export Funding Corp		11/15/10		20,689
	40,000,000	Private Export Funding Corp		12/03/10		39,979
	25,000,000	Private Export Funding Corp		01/10/11		24,979
	20,000,000	Private Export Funding Corp		01/13/11		19,984
	10,000,000	Private Export Funding Corp		01/18/11		9,990
	15,000,000	Private Export Funding Corp		02/28/11		14,979
	10,000,000	Private Export Funding Corp		04/11/11		9,972
	37,980,000	Procter & Gamble Co		10/04/10		37,979
	30,000,000	Procter & Gamble Co		10/06/10		29,999
	42,780,000	Procter & Gamble Co		10/18/10		42,775
	25,000,000	Procter & Gamble Co		11/02/10		24,994
	30,000,000	Procter & Gamble Co		11/03/10		29,992
	24,160,000	Procter & Gamble Co		11/04/10		24,154
	30,120,000	Procter & Gamble Co		11/15/10		30,109
	24,657,000	Procter & Gamble Co		11/24/10		24,649
	12,200,000	Procter & Gamble Co		12/16/10		12,194
	16,755,000	Procter & Gamble International Funding S.C.A		10/27/10		16,753
	53,400,000	Province of Ontario Canada		10/05/10		53,399

363

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     100,139,000	Rabobank USA Financial Corp		10/06/10	$	100,135
	44,000,000	Rabobank USA Financial Corp		10/12/10		43,995
	25,000,000	Rabobank USA Financial Corp		11/05/10		24,993
	20,136,000	Rabobank USA Financial Corp		11/15/10		20,127
	24,825,000	Rabobank USA Financial Corp		11/16/10		24,813
	20,000,000	Rabobank USA Financial Corp		12/13/10		19,981
	10,000,000	Rabobank USA Financial Corp		12/29/10		9,993
	45,000,000	Royal Bank of Canada		10/13/10		44,996
	40,000,000	Royal Bank of Canada		10/15/10		39,996
	20,000,000	Royal Bank of Canada		10/19/10		19,997
	25,000,000	Santander Central Hispano Finance Delaware, Inc		10/01/10		25,000
	25,000,000	Santander Central Hispano Finance Delaware, Inc		10/08/10		24,997
	25,000,000	Santander Central Hispano Finance Delaware, Inc		10/14/10		24,995
	18,500,000	Sheffield Receivables Corp		10/04/10		18,499
	25,000,000	Sheffield Receivables Corp		10/07/10		24,999
	24,375,000	Sheffield Receivables Corp		10/12/10		24,372
	20,000,000	Sheffield Receivables Corp		10/14/10		19,997
	10,000,000	Sheffield Receivables Corp		10/18/10		9,998
	20,000,000	Sheffield Receivables Corp		10/19/10		19,996
	15,000,000	Sheffield Receivables Corp		11/10/10		14,996
	33,000,000	Sheffield Receivables Corp		11/15/10		32,988
	13,370,000	Sheffield Receivables Corp		11/18/10		13,365
	10,600,000	Sheffield Receivables Corp		11/22/10		10,596
	24,855,000	Sheffield Receivables Corp		12/01/10		24,843
	30,000,000	Societe Generale North America, Inc		10/06/10		29,999
	28,300,000	Societe Generale North America, Inc		10/07/10		28,299
	25,000,000	Societe Generale North America, Inc		11/29/10		24,990
	20,000,000	Straight-A Funding LLC		10/04/10		19,999
	40,000,000	Straight-A Funding LLC		10/05/10		39,998
	11,500,000	Straight-A Funding LLC		10/14/10		11,499
	27,000,000	Straight-A Funding LLC		10/15/10		26,996
	20,000,000	Straight-A Funding LLC		11/02/10		19,995
	40,000,000	Straight-A Funding LLC		11/03/10		39,990
	19,000,000	Straight-A Funding LLC		11/09/10		18,995
	27,300,000	Straight-A Funding LLC		11/10/10		27,292
	15,000,000	Straight-A Funding LLC		11/19/10		14,995
	20,000,000	Straight-A Funding LLC		12/01/10		19,992
	38,000,000	Straight-A Funding LLC		12/07/10		37,982
	22,861,000	Straight-A Funding LLC		12/10/10		22,850
	24,000,000	Straight-A Funding LLC		12/10/10		23,988
	20,000,000	Straight-A Funding LLC		12/13/10		19,990
	29,000,000	Straight-A Funding LLC		12/14/10		28,985
	25,500,000	Straight-A Funding LLC		12/15/10		25,487
	65,355,000	Svensk Exportkredit AB		10/07/10		65,353
	25,000,000	Toronto-Dominion Holdings USA, Inc		10/12/10		24,998
	20,000,000	Toronto-Dominion Holdings USA, Inc		10/14/10		19,998
	12,000,000	Toronto-Dominion Holdings USA, Inc		10/20/10		11,998
	5,200,000	Toronto-Dominion Holdings USA, Inc		10/22/10		5,199
	30,000,000	Toronto-Dominion Holdings USA, Inc		11/01/10		29,995
	20,000,000	Toronto-Dominion Holdings USA, Inc		11/23/10		19,984
	20,000,000	Toronto-Dominion Holdings USA, Inc		12/01/10		19,992
	20,000,000	Unilever Capital Corp		10/08/10		19,999
	30,000,000	US Bancorp		12/27/10		29,985

364

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     25,000,000	US Bancorp		12/29/10	$	24,987
	30,000,000	US Bank NA		10/14/10		29,997
	50,000,000	US Bank NA		11/01/10		49,990
	40,000,000	US Bank NA		11/09/10		39,990
	25,000,000	US Bank NA		12/03/10		24,989
	50,000,000	Variable Funding Capital Co LLC		10/21/10		49,993
	30,000,000	Variable Funding Capital Co LLC		10/29/10		29,995
	35,495,000	Wal-Mart Stores, Inc		10/07/10		35,494
	24,000,000	Wal-Mart Stores, Inc		10/08/10		23,999
	10,000,000	Wal-Mart Stores, Inc		10/14/10		9,999
	52,000,000	Wal-Mart Stores, Inc		10/18/10		51,995
	4,348,000	Wal-Mart Stores, Inc		10/19/10		4,348
	30,000,000	Wal-Mart Stores, Inc		10/21/10		29,997
	48,000,000	Wal-Mart Stores, Inc		10/25/10		47,993
	58,000,000	Wal-Mart Stores, Inc		10/26/10		57,991
	5,270,000	Wal-Mart Stores, Inc		10/27/10		5,269
	25,000,000	Wal-Mart Stores, Inc		10/28/10		24,996
	50,000,000	Wal-Mart Stores, Inc		01/12/11		49,967
	20,000,000	Westpac Banking Corp		10/08/10		19,999
	50,000,000	Westpac Banking Corp		11/04/10		49,988
	33,000,000	Westpac Banking Corp		11/10/10		32,991
	3,000,000	Westpac Banking Corp		06/14/11		2,991
		TOTAL COMMERCIAL PAPER				5,227,213
GOVERNMENT AGENCY DEBT - 31.8%
		Federal Home Loan Bank (FHLB)
	30,565,000	FHLB		10/01/10		30,565
	5,000,000	FHLB		10/06/10		5,000
	48,825,000	FHLB		10/13/10		48,822
	34,785,000	FHLB		10/15/10		34,783
	25,000,000	FHLB		10/20/10		24,998
	29,220,000	FHLB		10/22/10		29,217
	115,270,000	FHLB		11/03/10		115,251
	62,000,000	FHLB		11/05/10		61,989
	50,000,000	FHLB		11/10/10		49,990
	74,000,000	FHLB		11/12/10		73,985
	110,310,000	FHLB		11/17/10		110,284
	118,270,000	FHLB		11/19/10		118,240
	20,000,000	FHLB		11/24/10		19,995
	25,000,000	FHLB		12/03/10		24,992
	27,900,000	FHLB		12/15/10		27,890
	3,510,000	FHLB		12/20/10		3,508
	175,000,000	FHLB		12/27/10		174,924
		Federal Home Loan Mortagge Corp (FHLMC)
	20,000,000	FHLMC		11/24/10		19,995
	34,125,000	FHLMC		10/01/10		34,125
	50,000,000	FHLMC		10/04/10		49,999
	60,000,000	FHLMC		10/05/10		59,999
	44,890,000	FHLMC		10/12/10		44,887
	55,000,000	FHLMC		10/18/10		54,995
	85,197,000	FHLMC		10/25/10		85,187
	93,268,000	FHLMC		10/26/10		93,251
	20,000,000	FHLMC		10/27/10		19,996
	4,900,000	FHLMC		10/28/10		4,899
	22,172,000	FHLMC		11/01/10		22,169
	83,090,000	FHLMC		11/08/10		83,073
	20,000,000	FHLMC		11/09/10		19,995
	20,000,000	FHLMC		11/10/10		19,993
	68,270,000	FHLMC		11/15/10		68,255
	81,095,000	FHLMC		11/16/10		81,069
	15,000,000	FHLMC		11/18/10		14,996
	144,185,000	FHLMC		11/22/10		144,147
	95,589,000	FHLMC		11/23/10		95,562
	30,000,000	FHLMC		11/29/10		29,991
	101,677,000	FHLMC		11/30/10		101,643

365

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE	MATURITY DATE	VALUE (000)
	$     25,000,000		FHLMC		12/02/10	$	24,992
	180,685,000		FHLMC		12/06/10		180,623
	96,778,000		FHLMC		12/09/10		96,741
	34,071,000		FHLMC		12/13/10		34,058
	132,360,000		FHLMC		12/14/10		132,305
	5,362,000		FHLMC		12/15/10		5,360
	6,575,000		FHLMC		12/16/10		6,572
	36,000,000		FHLMC		12/20/10		35,984
	68,800,000		FHLMC		12/27/10		68,769
	3,920,000		FHLMC		01/10/11		3,918
	10,000,000		FHLMC		01/11/11		9,991
	39,650,000		FHLMC		01/19/11		39,626
	63,876,000		FHLMC		01/24/11		63,835
	2,184,000		FHLMC		01/25/11		2,183
	30,015,000		FHLMC		02/07/11		29,993
	5,250,000		FHLMC		02/22/11		5,245
	4,590,000		FHLMC		03/07/11		4,581
	20,000,000		FHLMC		05/02/11		19,949
	10,000,000		FHLMC		05/25/11		9,984
			Federal National Mortgage Association (FNMA)
	11,165,000		FNMA		10/04/10		11,165
	30,000,000		FNMA		10/13/10		29,998
	22,655,000		FNMA		10/18/10		22,653
	86,150,000		FNMA		10/20/10		86,139
	33,535,000		FNMA		10/25/10		33,530
	110,833,000		FNMA		10/27/10		110,818
	8,065,000		FNMA		11/01/10		8,064
	16,760,000		FNMA		11/03/10		16,757
	48,540,000		FNMA		11/09/10		48,531
	31,285,000		FNMA		11/15/10		31,278
	78,240,000		FNMA		11/17/10		78,218
	19,745,000		FNMA		11/22/10		19,740
	103,585,000		FNMA		12/01/10		103,520
	79,380,000		FNMA		12/08/10		79,353
	23,960,000		FNMA		12/20/10		23,948
	86,110,000		FNMA		12/22/10		86,070
	6,017,000		FNMA		12/29/10		6,013
	48,000,000		FNMA		01/12/11		47,973
	24,320,000		FNMA		01/18/11		24,305
	40,000,000		FNMA		01/19/11		39,976
	5,800,000		FNMA		01/21/11		5,794
	14,110,000		FNMA		01/24/11		14,101
	400,000		FMNA		02/09/11		400
	32,340,000		FNMA		02/16/11		32,307
	87,358,000		FNMA		03/01/11		87,234
	1,420,000		FNMA		03/29/11		1,417
	12,575,000		FNMA		04/11/11		12,545
	980,000		FNMA		04/25/11		978
	3,304,000		FNMA		04/26/11		3,295
	8,510,000		FNMA		05/02/11		8,486
			TOTAL GOVERNMENT AGENCY DEBT				3,951,974
REPURCHASE AGREEMENT - 1.0%
	125,000,000	1	Credit Suisse First Boston		10/01/10		125,000
			TOTAL REPURCHASE AGREEMENT				125,000

366

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
TREASURY DEBT - 12.5%
	$     70,000,000		United States Treasury Bill			10/14/10	$	69,995
	56,835,000		United States Treasury Bill			10/21/10		56,828
	83,900,000		United States Treasury Bill			11/04/10		83,888
	64,500,000		United States Treasury Bill			11/12/10		64,489
	156,505,000		United States Treasury Bill			11/18/10		156,465
	60,790,000		United States Treasury Bill			11/26/10		60,772
	92,500,000		United States Treasury Bill			12/02/10		92,475
	87,075,000		United States Treasury Bill			12/09/10		87,049
	106,190,000		United States Treasury Bill			12/16/10		106,154
	60,030,000		United States Treasury Bill			12/23/10		60,009
	47,050,000		United States Treasury Bill			12/30/10		47,030
	5,675,000		United States Treasury Bill			02/10/11		5,671
	46,530,000		United States Treasury Bill			03/10/11		46,493
	83,530,000		United States Treasury Bill			03/17/11		83,456
	117,475,000		United States Treasury Note	1.250%		11/30/10		117,656
	21,750,000		United States Treasury Note	0.880		12/31/10		21,787
	47,750,000		United States Treasury Note	0.880		01/31/11		47,833
	118,830,000		United States Treasury Note	0.880		02/28/11		119,127
	192,875,000		United States Treasury Note	0.880		04/30/11		193,585
	37,900,000		United States Treasury Note	0.880		05/31/11		38,056
			TOTAL TREASURY DEBT					1,558,818
VARIABLE RATE NOTES - 4.9%
			Federal Farm Credit Bank (FFCB)
	40,000,000	i	FFCB	0.160	%	05/16/11		39,996
	45,000,000	i	FFCB	0.400		06/01/11		44,985
	45,000,000	i	FFCB	0.260		07/15/11		44,998
			Federal Home Loan Bank (FHLB)
	25,000,000	i	FHLB	0.250		05/06/11		24,996
	50,000,000	i	FHLB	0.230		05/26/11		49,957
	90,000,000	i	FHLB	0.330		05/26/11		90,000
	90,000,000	i	FHLB	0.380		06/01/11		90,012
	120,000,000	i	FHLB	0.160		07/11/11		119,982
	100,000,000	i	FHLB	0.270		08/12/11		100,000
			TOTAL VARIABLE RATE DEMAND NOTES					604,926
			TOTAL SHORT-TERM INVESTMENTS					12,493,841
			(Cost $12,493,841)
			TOTAL INVESTMENTS - 100.4%					12,493,841
			(Cost $12,493,841)
			OTHER ASSETS & LIABILITIES, NET - (0.4)%					(48,558)
			NET ASSETS - 100.0%				$	12,445,283
		i	Floating or variable rate security. Coupon rate reflects the rate at period end.
		1	Agreement with Credit Suisse Securities LLC, 0.25% dated 9/30/10 to be repurchased as $125,000,000 on 10/01/10, collateralized by U.S. Government Agencies security valued at $127,500,000.
			Cost amounts are in thousands.

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Note 1—organization and 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 their employees with variable retirement benefits. CREF is registered with the Securities and Exchange Commission (‘Commission”) under the Investment Company Act of 1940, as amended, 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”).

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’ organizational documents, the Board of Trustees (“Trustees”) and officers of the Accounts are indemnified against certain liabilities that may arise out of their duties to the Accounts. However, based on experience, the Accounts expect the risk of loss due to these warranties and indemnities to be remote.

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 the financial statements. 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 for financial reporting purposes.

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 may 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 Accounts’ 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 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

368

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 and brokers to earn additional income.

Lending Accounts’ securities exposes the Accounts to risks such as the following: (i) the borrower may fail to return the loaned securities; (ii) the borrower may not be able to provide additional collateral; (iii) the Accounts may experience delays in recovery of the loaned securities or delays in access to collateral; or (iv) the Accounts may experience losses relating to the reinvestment of cash collateral. To minimize certain of these risks, loan counterparties pledge cash collateral equal to at least 102% of the market value of the securities loaned for U.S. securities and 105% of the market value of the securities loaned for foreign securities. However, the securities on loan are subject to daily market fluctuations which may cause the loans to be under collateralized for a period of time. The 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 investment adviser, TIAA-CREF Investment Management, LLC (“TCIM”). The cash collateral for the Social Choice Account is invested in short-term instruments by TCIM. The cash collateral for the Growth, Equity Index, Bond Market, and Inflation-Linked Bond Accounts is invested in the State Street Navigator Securities Lending Portfolio. As of September 30, 2010, there were no securities out on loan for the Growth, Equity Index, Bond Market, and Inflation-Linked Bond Accounts.

At September 30, 2010, 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 (amounts are in thousands):

Account	Market Value of Collateral		Amounts Owed to Lending Counterparties
Stock	$	6,396,825	$	6,406,609
Global Equities		1,158,137		1,159,827
Social Choice		204,617		204,613

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

Treasury Inflation-Protected Securities: The Accounts (other than the Money Market Account) may invest in Treasury Inflation-Protected Securities, specially structured bonds in which the principal amount is adjusted periodically to keep pace with inflation, as measured by the U.S. Consumer Price Index.

369

Dollar rolls transactions: Some of 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 substantially 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 difference between the sales proceeds and the lower repurchase price is recorded as a realized gain. The Account maintains a segregated account, the dollar value of which is at least equal to its obligations with respect to dollar rolls.

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 Trustees, pursuant to the Investment Company Act of 1940, as amended. These transactions are effected at market rates without incurring broker commissions.

Note 2—valuation of investments

Portfolio investments are valued at fair value utilizing various valuation methods approved by the 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 and preferred stock: Equity securities listed or traded on a national market or exchange are valued based on their sale price on such market or exchange at the close of business on the date of valuation, or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign investments are valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. 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 fair value in accordance with procedures adopted by the 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 with maturities of 60 days or less are valued at amortized cost. Short-term investments (other than those in the Money Market Account) with maturities in excess of 60 days are valued in the same manner as debt securities. Short-term investments in the Money Market Account are valued at amortized cost. Short-term investments are generally categorized in Level 2 of the fair value hierarchy.

Investments in registered investment companies: These investments are valued at their net asset value on the valuation date. These investments are categorized in Level 1 of the fair value hierarchy.

Futures contracts: Stock and bond index futures 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.

370

Any portfolio securities for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value, as determined in good faith using procedures approved by the 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.

Transfers between levels are recognized at the end of the reporting period. For the period ended September 30,2010, there were no significant transfers between levels by the Accounts.

As of September 30, 2010, 100% of the investments in the Inflation-Linked Bond and Money Markets 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, 2010 (amounts are in thousands):

Account		Level 1		Level 2		Level 3		Total
Stock
Consumer Discretionary*	$	8,026,590	$	3,411,954	$	-	$	11,438,544
Consumer Staples*		6,296,486		2,564,909		1		8,861,396
Energy*		6,748,648		2,869,645		-		9,618,293
Financials*		11,213,465		7,440,418		-		18,653,883
Health Care*		8,268,481		1,961,430		10,316		10,240,227
Industrials*		7,824,889		3,876,777		-		11,701,666
Information Technology*		12,674,824		2,160,243		-		14,835,067
Materials*		2,917,269		3,639,862		-		6,557,131
Telecommunication Services*		2,049,457		1,423,705		-		3,473,162
Utilities*		2,446,600		1,209,144		-		3,655,744
Domestic Corporate Bonds		-		80,709		-		80,709
Domestic Government Bonds		-		331		-		331
Short-term Investments		-		6,568,780		-		6,568,780
Total	$	68,466,709	$	37,207,907	$	10,317	$	105,684,933
Global Equities
United States	$	6,296,357	$	9,047	$	-	$	6,305,404
United Kingdom*		31,465		1,312,223		-		1,343,688
Japan		-		1,171,669		-		1,171,669
Switzerland*		71,948		506,752		-		578,700
Canada		31,592		544,962		-		576,554
France		-		541,956		-		541,956
Australia		-		522,614		-		522,614
Germany		-		439,720		-		439,720
Netherlands*		13,757		349,986		-		363,743
Spain		-		178,073		-		178,073
Hong Kong		-		159,276		-		159,276
Other		127,719		1,056,616		-		1,184,335
Domestic Corporate Bonds		-		59,142		-		59,142
Short-term Investments		-		1,270,447		-		1,270,447
Total	$	6,572,838	$	8,122,483	$	-	$	14,695,321
Growth
Consumer Discretionary	$	1,908,994	$	16,174	$	-	$	1,925,168
Consumer Staples		931,289		46,665		-		977,954
Energy*		1,008,885		50,618		-		1,059,503
Financials		689,418		-		-		689,418
Health Care*		1,330,069		14,266		-		1,344,335
Industrials*		1,565,426		38,437		-		1,603,863
Information Technology*		3,842,124		13,550		-		3,855,674
Materials*		500,212		10,613		-		510,825
Telecommunication Services		66,031		-		-		66,031
Utilities		25,969		-		-		25,969
Short-term Investments		-		23,450		-		23,450
Total	$	11,868,418	$	213,772	$	-	$	12,082,190
Equity Index
Consumer Discretionary	$	1,107,839	$	-	$	-	$	1,107,839
Consumer Staples		945,884		-		-		945,884
Energy		1,001,418		-		-		1,001,418
Financials		1,611,266		-		-		1,611,266
Health Care		1,159,634		-		-		1,159,634
Industrials*		1,113,580		-		-		1,113,580
Information Technology		1,812,530		-		-		1,812,530
Materials		397,213		-		-		397,213
Telecommunication Services		289,538		-		-		289,538
Utilities		363,056		-				363,056
Short-term Investments		-		5,000		-		5,000
Total	$	9,801,958	$	5,000	$	-	$	9,806,958
Bond Market
Bank Loan Obligations	$	-	$	16,719	$	-	$	16,719
Corporate Bonds				3,744,824		-		3,744,824
Government Bonds		-		7,797,077		-		7,797,077
Structured Assets		-		707,077		-		707,077
Preferred Stocks		867		-		-		867
Investments in Registered Investment Companies		5,494		-		-		5,494
Short-term Investments		-		2,299,612		-		2,299,612
Total	$	6,361	$	14,565,309	$	-	$	14,571,670

371

Account		Level 1		Level 2		Level 3		Total
Social Choice
Consumer Discretionary	$	599,477	$	128,555	$	-	$	728,032
Consumer Staples		456,423		115,317		-		571,740
Energy		428,087		110,907		-		538,994
Financials		704,684		305,538		-		1,010,222
Health Care		557,040		85,487		-		642,527
Industrials		512,026		163,612		-		675,638
Information Technology*		719,533		46,178		-		765,711
Materials		219,557		166,086		-		385,643
Telecommunication Services		76,176		70,039		-		146,215
Utilities		213,824		64,741		-		278,565
Corporate Bonds		-		992,194		-		992,194
Government		-		2,393,515		-		2,393,515
Structured Assets		-		258,491		-		258,491
Short-term Investments		-		807,047		-		807,047
Total	$	4,486,827	$	5,707,707	$	-	$	10,194,534

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

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

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

	Stock Account
Balance as of December 31,2009	$	11,806
Realized Gain/Loss		(1,832	)
Change in Unrealized Appreciation/Depreciation		1,872	*
Gross Purchases		15
Gross Sales		(1,544	)
Balance as of September 30, 2010	$	10,317
* Includes $(741) related to Level 3 securities still held at period end.

Note 3—affiliated investments

Companies in which the Account holds 5% or more of the outstanding voting shares are considered “affiliated companies” of the Account pursuant to the Investment Company Act of 1940, as amended. Additionally, investments in other investment companies advised by TCIM or affiliated entities are deemed to be affiliated companies. Information regarding transactions with affiliated companies is as follows (amounts are in thousands):

Issue	Value at December 31, 2009			Purchase Cost		Sales Proceeds		Realized Gain/(Loss)			Dividend Income		Withholding Expense		Shares at September 30, 2010†			Value at September 30, 2010
Stock Account
Biovitrum AB			*	$	69,504	$	7,839	$	2,090		$	-	$	-		12,965,483		$	86,368
Digital Garage, Inc		18,114			150		21,234		(4,724	)		-				-	**		-
Ferro Corp		39,227			19,918		22,788		8,429			-		-		4,533,618			58,438
First NIS Regional Fund SICAV		16			-		-		(1,856	)		-		-		-	**		-
Information Development Co		2,542			-		-		-			89		6		431,900			3,032
Intelligent Wave, Inc		2,415			-		4,568		(18,464	)		-		-		-	**		-
Japan Asia Investment Co Ltd			*		4,600		-		-			-		-		8,823,000			5,284
Jarden Corp			*		102,529		5,982		2,452			979		-		5,022,863			156,362
MPM Bioventures II		8,801			-		-		-			-		-		22,167,242			6,913
Orient Express Hotels Ltd			*		49,293		6,257		2,342			-		-		5,696,000			63,510
Skyline Venture Fund II Ltd		1,019			-		-		-			-		-		4,254,176			655
Vanda Pharmaceuticals, Inc		16,184			6,172		3,103		(1,639	)		-		-		1,643,071			10,976
	$	88,318		$	252,166	$	71,771	$	(11,370	)	$	1,068	$	6				$	391,538
Bond Market Account
TIAA-CREF High Yield Fund	$	4,914		$	297	$	-	$	-		$	297	$	-		564,078		$	5,494
	$	4,914		$	297	$	-	$	-		$	297	$	-		564,078		$	5,494

*	Not an Affiliate as of December 31, 2009
**	Not an Affiliate as of September 30, 2010
†	Shares are not in thousands.

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Note 4—investments

At September 30, 2010, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments, consisting of gross unrealized appreciation and gross unrealized depreciation, was as follows (amounts are in thousands):

Account	Gross Unrealized Appreciation		Gross Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
Stock	$	11,775,227	$	(3,552,106	)	$	8,223,121
Global Equities		1,528,012		(508,029	)		1,019,983
Growth		1,593,003		(282,971	)		1,310,032
Equity Index		2,405,333		(1,405,943	)		999,390
Bond Market		661,769		(89,921	)		571,848
Inflation-Linked Bond		698,190		-			698,190
Social Choice		1,226,234		(338,901	)		887,333

373

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, 2010	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, 2010	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		President and Chief Executive Officer
		(principal executive officer)
Date: November 18, 2010	By:	/s/ Virginia M. Wilson
		Virginia M. Wilson
		Executive Vice President,
		Chief Financial Officer and
		Principal Accounting 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.)