UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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, 2011

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2011

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
CORPORATE BONDS - 0.0%
FOOD & STAPLES RETAILING - 0.0%
$	800	i	Marfrig Alimentos S.A.	1.000	%	07/15/15	$	43
			TOTAL FOOD & STAPLES RETAILING					43
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	5,532,180		Dr Reddy’s Laboratories Ltd	9.250		03/24/14		6
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					6
REAL ESTATE - 0.0%
	22,759		Kiwi Income Property Trust	8.950		12/20/14		18
			TOTAL REAL ESTATE					18
			TOTAL CORPORATE BONDS					67
			(Cost $71)

SHARES			COMPANY
COMMON STOCKS - 99.3%
AUTOMOBILES & COMPONENTS - 1.8%
	99,129		Actron Technology Corp	257
	64,000		Aichi Machine Industry Co Ltd	201
	34,200		Aisan Industry Co Ltd	301
	489,122	e	Aisin Seiki Co Ltd	16,286
	170,000	e	Akebono Brake Industry Co Ltd	877
	2,330,971	*,e	American Axle & Manufacturing Holdings, Inc	17,785
	90,083	*,e	Amerigon, Inc (Class A)	1,147
	262,782		Amtek Auto Ltd	687
	179,884		Amtek India Ltd	512
	22,600		APM Automotive Holdings BHD	31
	11,259	*	Asahi India Glass Ltd	15
	16,190		AtlasBX Co Ltd	272
	599,865	e	Autoliv, Inc	29,093
	71,600		Autometal S.A.	476
	2,903	*	Autoneum Holding AG.	176
	3,112,000		AviChina Industry & Technology Co	972

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	141,728		Bajaj Holdings and Investment Ltd	$	4,426
	393,472		Bayerische Motoren Werke AG.		25,993
	397		Bayerische Motoren Werke AG. (Preference)		19
	44,634		Bharat Forge Ltd		244
	562,192	*,e	BorgWarner, Inc		34,029
	113,149		Brembo S.p.A.		998
	830,838		Bridgestone Corp		18,851
	9,246,200	*,e	Brilliance China Automotive Holdings Ltd		7,169
	724,400	e	Byd Co Ltd		1,205
	335,000	*,e	Calsonic Kansei Corp		2,027
	328,000	*	Changfeng Axle China Co		35
	1,384,000		Chaowei Power Holdings Ltd		544
	1,933,513		Cheng Shin Rubber Industry Co Ltd		4,006
	2,771,000		China Motor Corp		2,335
	28,409		Compagnie Plastic-Omnium S.A.		671
	10,718	*	Continental AG.		619
	338,104	e	Cooper Tire & Rubber Co		3,682
	57,000		Cub Elecparts, Inc		69
	59,830		Dae Won Kang Up Co Ltd		237
	36,000	*	Daido Metal Co Ltd		413
	522,653	*,e	Daihatsu Motor Co Ltd		9,484
	2,157,230		DaimlerChrysler AG. (EUR)		95,942
	1,236,922	*,e	Dana Holding Corp		12,988
	1,144,320		Denso Corp		36,787
	203,000		Depo Auto Parts Ind Co Ltd		370
	1,300		Dong Ah Tire & Rubber Co Ltd		10
	4,505,600	e	Dongfeng Motor Group Co Ltd		6,108
	17,800		Dongyang Mechatronics Corp		209
	47,436	*,e	Dorman Products, Inc		1,569
	308,900		Double Coin Holdings Ltd		186
	1,314,700		Drb-Hicom BHD		708
	91,439	e	Drew Industries, Inc		1,827
	31,000	*	Eagle Industry Co Ltd		338
	46,757	e	ElringKlinger AG.		1,093
	54,182	e	Exedy Corp		2,052
	157,348		Exide Industries Ltd		414
	369,238	*,e	Exide Technologies		1,477
	77,371	e	Faurecia		1,648
	45,300		FCC Co Ltd		943
	793,155		Federal Corp		388
	405,095	*	Federal Mogul Corp (Class A)		5,975
	193,256	e	Fiat S.p.A.		1,043
	107,789		Fleetwood Corp Ltd		1,163
	16,834,312	*	Ford Motor Co		162,789
	68,881	*,e	Fuel Systems Solutions, Inc		1,323
	1,713,467		Fuji Heavy Industries Ltd		10,061
	17,000		Furukawa Battery Co Ltd		88
	67,797	*,e	Futaba Industrial Co Ltd		523
	5,410,000		Geely Automobile Holdings Ltd		1,197
	6,062,000	*,b	General Motors Co		0	^
	35,983,677	*,b	General Motors Co		0	^
	24,057,000	*,b	General Motors Co		0	^

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,507,434	*,b	General Motors Co	$	0	^
	40,684,487	*,b	General Motors Co		0	^
	7,950,000	*,b	General Motors Co		0	^
	85,268,000	*,b,e	General Motors Co		0	^
	4,230,271	*,b,e	General Motors Co		0	^
	722,689	*,b,e	General Motors Co		0	^
	2,563,023	*,e	General Motors Co		51,722
	26,439,191	*,b	General Motors Co		0	^
	402,861	e	Gentex Corp		9,689
	17,934		Ghabbour Auto		74
	5,626,259	e	GKN plc		15,277
	20,570		Global & Yuasa Battery Co Ltd		606
	1,037		Goodyear Lastikleri Turk AS.		28
	1,207,198	*,e	Goodyear Tire & Rubber Co		12,181
	7,884	*	Grammer AG.		132
	2,076,750		Great Wall Motor Co Ltd		2,365
	5,145,454		Guangzhou Automobile Group Co Ltd		5,001
	73,210		Halla Climate Control Corp		1,490
	22,390		Hanil E-Wha Co Ltd		166
	97,150		Hankook Tire Co Ltd		3,270
	670,544	e	Harley-Davidson, Inc		23,020
	139,827		Hero Honda Motors Ltd		5,535
	38,800	*	HI-LEX CORP		619
	4,200	*	Hiroca Holdings Ltd		14
	2,733,838	e	Honda Motor Co Ltd		80,087
	72,436		Hu Lane Associate, Inc		100
	17,797		Hudaco Industries Ltd		171
	24,400		Hwa Shin Co Ltd		299
	127,189		Hyundai Mobis		36,025
	340,652		Hyundai Motor Co		59,552
	59,516		Hyundai Motor Co Ltd (2nd Preference)		3,380
	36,617		Hyundai Motor Co Ltd (Preference)		1,974
	19,478	*	Hyundai Wia Corp		2,497
	250,133		IMMSI S.p.A.		194
	1,554,586		Isuzu Motors Ltd		6,679
	589,500	*	Jinan Qingqi Motorcycle Co		210
	2,854,766		Johnson Controls, Inc		75,281
	112,500		Kanto Auto Works Ltd		970
	184,896	e	Kayaba Industry Co Ltd		1,036
	153,800	e	Keihin Corp		2,638
	735,966		Kenda Rubber Industrial Co Ltd		784
	447,230		Kia Motors Corp		26,669
	68,196	*	Koito Manufacturing Co Ltd		1,079
	44,510		Kolao Holdings		306
	577,351	*,e	Kongsberg Automotive ASA		236
	22,620	*	Kumho Tire Co, Inc		204
	62,290	e	Landi Renzo S.p.A.		123
	681,976		Lear Corp		29,257
	63,072		Leoni AG.		2,022
	78,398		Linamar Corp		1,022
	338,627		Magna International, Inc (Class A)		11,197
	399,131		Mahindra & Mahindra Ltd		6,520

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	72,422		MAN SE	$	9,146
	19,532		Mando Corp		3,140
	129,282	*	Martinrea International, Inc		823
	104,802		Maruti Udyog Ltd		2,310
	1,599,942	e	Mazda Motor Corp		3,236
	90,103		Michelin (C.G.D.E.) (Class B)		5,389
	1,188,000	e	Minth Group Ltd		1,076
	47,000		Mitsuba Corp		382
	4,978,376	*,e	Mitsubishi Motors Corp		6,598
	208,377	*	Modine Manufacturing Co		1,888
	27,735		Motherson Sumi Systems Ltd		100
	58,860		Motonic Corp		337
	49,263	*,e	Motorcar Parts of America, Inc		405
	4,838		MRF Ltd		650
	36,300		Musashi Seimitsu Industry Co Ltd		875
	533,217		Nan Kang Rubber Tire Co Ltd		848
	46,030		Nexen Tire Corp		735
	481,613		NGK Spark Plug Co Ltd		6,545
	535,096		NHK Spring Co Ltd		4,728
	11,800	*	Nidec-Tosok Corp		146
	105,851	e	Nifco, Inc		2,727
	65,000	e	Nippon Seiki Co Ltd		707
	5,349,044	e	Nissan Motor Co Ltd		47,329
	94,941	e	Nissan Shatai Co Ltd		777
	55,600		Nissin Kogyo Co Ltd		833
	131,126	*	NOK Corp		2,372
	49,105		Nokian Renkaat Oyj		1,470
	848,000	*,m	Norstar Founders Group Ltd		1
	24,910		Otokar Otobus Karoseri Sanayi AS.		480
	1,402,823	e	Peugeot S.A.		29,843
	180,127		Piaggio & C S.p.A.		576
	203,805	e	Pirelli & C S.p.A.		1,450
	183,300	*	Plascar Participacoes Industriais S.A.		210
	431,704		Porsche AG.		20,563
	392,000	e	Press Kogyo Co Ltd		1,750
	269,000		Proton Holdings BHD		232
	3,232,031		PT Astra International Tbk		23,104
	2,810,500		PT Gajah Tunggal Tbk		779
	6,963		Pyeong Hwa Automotive Co Ltd		95
	1,782,000		Qingling Motors Co Ltd		441
	516,742		Renault S.A.		17,116
	221,000		Riken Corp		918
	17,750		S&T Daewoo Co Ltd		490
	29,820		S&T Dynamics Co Ltd		351
	52,563	*	SAF-Holland S.A.		258
	155,000	e	Sanden Corp		540
	57,400		Sanoh Industrial Co Ltd		548
	669,920		Sanyang Industry Co Ltd		365
	6,010		Sejong Industrial Co Ltd		66
	20,471	e	Shiloh Industries, Inc		184
	66,500	*	Showa Corp		394
	10,230		SL Corp		200

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,139		Societe Fonciere Financiere et de Participations FFP	$	334
	200,768		Sogefi S.p.A.		568
	475,700		Somboon Advance Technology PCL		317
	230,273	e	Spartan Motors, Inc		951
	519,500		Sri Trang Agro-Industry PCL		265
	48,450	*	Ssangyong Motor Co		215
	118,925	e	Standard Motor Products, Inc		1,542
	182,395		Stanley Electric Co Ltd		2,756
	105,362	*	Stoneridge, Inc		550
	489,403		Sumitomo Rubber Industries, Inc		6,258
	29,338		Sungwoo Hitech Co Ltd		521
	118,324	e	Superior Industries International, Inc		1,828
	359,853		Suzuki Motor Corp		7,932
	2,441,653	e	T RAD Co Ltd		9,264
	56,000		Ta Yih Industrial Co Ltd		98
	29,100		Tachi-S Co Ltd		514
	51,600	*	Takata Corp		1,174
	177,200		TAN Chong Motor Holdings BHD		248
	2,186,094		Tata Motors Ltd		6,908
	22,200		Teikoku Piston Ring Co Ltd		268
	276,957	*,e	Tenneco, Inc		7,093
	149,087	*,e	Tesla Motors, Inc		3,636
	125,900	e	Thor Industries, Inc		2,789
	1,220,000		Tianneng Power International Ltd		502
	45,074		Tofas Turk Otomobil Fabrik		160
	67,363	e	Tokai Rika Co Ltd		1,213
	77,800		Tokai Rubber Industries, Inc		1,080
	758,630		Tong Yang Industry Co Ltd		687
	95,300		Topre Corp		942
	27,810	*,e	Tower International, Inc		287
	246,000		Toyo Tire & Rubber Co Ltd		616
	120,170	e	Toyoda Gosei Co Ltd		2,288
	55,100	*	Toyota Auto Body Co Ltd		856
	61,963	e	Toyota Boshoku Corp		885
	301,277		Toyota Industries Corp		8,787
	4,087,087	*	Toyota Motor Corp		140,103
	795,867	*,e	TRW Automotive Holdings Corp		26,049
	56,600	e	TS Tech Co Ltd		830
	9,600		Tube Investments Of India		26
	143,601		Tung Thih Electronic Co Ltd		237
	385,640		TVS Motor Co Ltd		479
	342,990		TYC Brother Industrial Co Ltd		145
	1,334,141		UMW Holdings BHD		2,850
	52,400		Unipres Corp		1,416
	175,376		Valeo S.A.		7,372
	984,496	*,e	Visteon Corp		42,334
	183,161		Volkswagen AG.		22,567
	49,713		Volkswagen AG. (Preference)		6,561
	115,291	*,e	Winnebago Industries, Inc		798
	2,206,000	e	Xinyi Glass Holdings Co Ltd		918
	216,272	*,e	Yamaha Motor Co Ltd		2,855
	399,000	e	Yokohama Rubber Co Ltd		2,318

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	102,300		Yorozu Corp	$	2,642
	1,049,258		Yulon Motor Co Ltd		1,949
			TOTAL AUTOMOBILES & COMPONENTS		1,560,371
BANKS - 5.6%
	88,619	e	1st Source Corp		1,846
	96,952	*,e	1st United Bancorp, Inc		478
	908,030		77 Bank Ltd		4,133
	104,213	*	Aareal Bank AG.		1,611
	93,192		Abington Bancorp, Inc		671
	419,654		ABSA Group Ltd		6,956
	442,800		Affin Holdings BHD		343
	31,357,000		Agricultural Bank of China		10,239
	679,198	*	Agricultural Bank of Greece		320
	9,600		Aichi Bank Ltd		604
	1,628,218		Akbank TAS		6,386
	286,000		Akita Bank Ltd		936
	544,459		Albaraka Turk Katilim Bankasi AS		548
	22,194	e	Alliance Financial Corp		623
	1,107,700		Alliance Financial Group BHD		1,135
	378,255	*	Alpha Bank S.A.		660
	315,270	*,m	Amagerbanken AS		0	^
	105,243	*,e	Ameris Bancorp		917
	37,288	e	Ames National Corp		583
	111,754		Andhra Bank		281
	541,290	*,m	Anglo Irish Bank Corp plc		0	^
	263,000		Aomori Bank Ltd		915
	4,513,484	e	Aozora Bank Ltd		10,392
	35,200	*	Apollo Residential Mortgage		577
	49,870	e	Arrow Financial Corp		1,110
	308,453	e	Associated Banc-Corp		2,869
	438,518	e	Astoria Financial Corp		3,372
	630,108		Asya Katilim Bankasi AS		654
	72,681		Attijariwafa Bank		3,265
	4,037,074	*	Australia & New Zealand Banking Group Ltd		74,933
	276,721	e	Awa Bank Ltd		1,910
	444,940	e	Banca Carige S.p.A.		860
	11,647,014		Banca Intesa S.p.A.		18,265
	4,759,090		Banca Intesa S.p.A. RSP		6,118
	8,083,439		Banca Monte dei Paschi di Siena S.p.A.		4,489
	363,881		Banca Popolare dell’Emilia Romagna Scrl		3,539
	104,164	*	Banca Popolare dell’Etruria e del Lazio		210
	574,539	e	Banca Popolare di Milano		1,432
	43,910	e	Bancfirst Corp		1,456
	643,793		Banche Popolari Unite Scpa		2,383
	86,300		Banco ABC Brasil S.A.		435
	4,341,384		Banco Bilbao Vizcaya Argentaria S.A.		35,945
	1,069,638	e	Banco BPI S.A.		969
	3,300	e	Banco Bradesco S.A. (ADR)		49
	3,524,246		Banco Bradesco S.A. (Preference)		51,938
	2,173,680	e	Banco Comercial Portugues S.A.		562
	60,600		Banco Daycoval S.A.		274

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	60,073		Banco de Credito e Inversiones	$	2,826
	1,602,880		Banco de Oro Universal Bank		1,855
	818,842	e	Banco de Sabadell S.A.		2,924
	714,905		Banco de Valencia S.A.		736
	71,943		Banco di Desio e della Brianza S.p.A.		325
	9,367		Banco di Sardegna S.p.A		86
	1,437,776		Banco do Brasil S.A.		18,994
	529,881		Banco do Estado do Rio Grande do Sul		4,509
	522,797	e	Banco Espirito Santo S.A.		1,385
	103,600		Banco Industrial e Comercial S.A.		408
	3,714,981		Banco Itau Holding Financeira S.A.		57,397
	119,447	e	Banco Latinoamericano de Exportaciones S.A. (Class E)		1,819
	53,700		Banco Panamericano S.A.		176
	195,703	e	Banco Pastor S.A.		754
	40,600		Banco Pine S.A.		231
	1,294,306	e	Banco Popolare Scarl		2,140
	775,280	e	Banco Popular Espanol S.A.		3,577
	1,317,039		Banco Santander Brasil S.A.		9,610
	11,459,461		Banco Santander Central Hispano S.A.		93,691
	61,339,211		Banco Santander Chile S.A.		4,421
	286,646		BanColombia S.A.		4,203
	56,000	e	BanColombia S.A. (ADR)		3,119
	139,266		BanColombia S.A. (Preference)		1,941
	14,057	e	Bancorp Rhode Island, Inc		596
	360,439	e	Bancorpsouth, Inc		3,165
	108,500		Bangkok Bank PCL		489
	1,770,900		Bangkok Bank PCL (Foreign)		8,375
	358,125	e	Banif SGPS S.A.		196
	67,873		Bank Handlowy w Warszawie S.A.		1,413
	808,681		Bank Hapoalim Ltd		2,792
	1,233,706		Bank Leumi Le-Israel		3,780
	857,482		Bank Millennium S.A.		1,169
	215,951	e	Bank Mutual Corp		564
	103,506	*	Bank of Attica		52
	2,108,500		Bank of Ayudhya PCL		1,346
	323,600		Bank of Ayudhya PCL - NVDR		207
	123,796,000		Bank of China Ltd		38,280
	20,110,332	e	Bank of Communications Co Ltd		11,910
	954,520		Bank of Cyprus Public Co Ltd		1,474
	1,939,395	e	Bank of East Asia Ltd		5,956
	117,455		Bank of Hawaii Corp		4,275
	135,192		Bank of India		866
	21,118,153	*	Bank of Ireland		2,145
	19,800		Bank of Iwate Ltd		992
	769,350		Bank of Kaohsiung		245
	24,138	e	Bank of Kentucky Financial Corp		489
	519,125	e	Bank of Kyoto Ltd		4,622
	25,247	e	Bank of Marin Bancorp		834
	3,190	*,e	Bank of Montreal		178
	1,083,934		Bank of Montreal		60,688
	213,000		Bank of Nagoya Ltd		743
	1,724,150		Bank of Nova Scotia		86,742

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	35,400		Bank of Okinawa Ltd	$	1,635
	863,253	e	Bank of Queensland Ltd		5,899
	184,541		Bank of Saga Ltd		506
	125,939	e	Bank of the Ozarks, Inc		2,636
	2,143,111		Bank of the Philippine Islands		2,717
	81,300		Bank of the Ryukyus Ltd		1,108
	1,203,763		Bank of Yokohama Ltd		6,037
	163,591		Bank Pekao S.A.		6,580
	24,691,500		Bank Rakyat Indonesia		16,167
	103,684	e	BankFinancial Corp		688
	610,774	*	Bankia SAU		2,998
	151,060	e	Bankinter S.A.		820
	65,234	e	BankUnited		1,354
	88,683		Banner Corp		1,134
	5,878		Banque Cantonale Vaudoise		3,023
	28,462,260		Barclays plc		69,800
	7,066		Basler Kantonalbank		1,079
	2,131,269	e	BB&T Corp		45,460
	560,196	e	Bendigo Bank Ltd		4,538
	177,442	*	Beneficial Mutual Bancorp, Inc		1,322
	69,791	e	Berkshire Hills Bancorp, Inc		1,289
	1,690,750	e	BNP Paribas		66,654
	8,011,487		BOC Hong Kong Holdings Ltd		16,939
	27,873	*,e	BofI Holding, Inc		375
	44,024	e	BOK Financial Corp		2,064
	343,667	e	Boston Private Financial Holdings, Inc		2,021
	16,029	*	BRE Bank S.A.		1,161
	29,125	e	Bridge Bancorp, Inc		533
	38,897	*,e	Bridge Capital Holdings		391
	260,604	e	Brookline Bancorp, Inc		2,009
	44,777		Bryn Mawr Bank Corp		742
	274,407	*	BS Financial Group		2,992
	7,310,096		Bumiputra-Commerce Holdings BHD		15,843
	130,152		Caja de Ahorros del Mediterraneo		300
	42,459	e	Camden National Corp		1,156
	756,114		Canadian Imperial Bank of Commerce/Canada		52,947
	155,276		Canadian Western Bank		3,805
	153,693		Canara Bank		1,385
	48,273	*,e	Cape Bancorp, Inc		341
	30,431	*,e	Capital Bank Corp		63
	73,354	e	Capital City Bank Group, Inc		763
	934,001	e	CapitalSource, Inc		5,735
	31,298		Capitec Bank Holdings Ltd		743
	438,427	e	Capitol Federal Financial		4,630
	129,050	e	Cardinal Financial Corp		1,112
	14,093	*,e	Cascade Bancorp		82
	354,892	e	Cathay General Bancorp		4,039
	52,069	e	Center Bancorp, Inc		502
	148,474	*,e	Center Financial		696
	109,957		Centerstate Banks of Florida, Inc		575
	76,301	*,e	Central Pacific Financial Corp		787
	17,968	e	Century Bancorp, Inc		417

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,844,890		Chang Hwa Commercial Bank	$	3,311
	14,782	e	Charter Financial Corp		139
	127,163	e	Chemical Financial Corp		1,947
	2,455,189	e	Chiba Bank Ltd		17,029
	48,800	*	Chiba Kogyo Bank Ltd		298
	14,438,000	e	China Citic Bank		5,902
	89,207,631	e	China Construction Bank		53,956
	12,541,270		China Development Financial Holding Corp		3,726
	7,560,622	e	China Merchants Bank Co Ltd		11,437
	6,654,800		China Minsheng Banking Corp Ltd		4,048
	14,305,417		Chinatrust Financial Holding Co		8,374
	159,000		Chong Hing Bank Ltd		282
	3,357,000	*	Chongqing Rural Commercial Bank		1,026
	74,734	e	Chugoku Bank Ltd		1,101
	718,582	*,e	CIT Group, Inc		21,823
	64,890	e	Citizens & Northern Corp		964
	75,242	e	City Holding Co		2,031
	79,957	e	City National Corp		3,019
	138,638		City Union Bank Ltd		124
	44,490	e	Clifton Savings Bancorp, Inc		408
	47,763	e	CNB Financial Corp		612
	129,138	e	CoBiz, Inc		577
	184,108	e	Columbia Banking System, Inc		2,636
	51,463		Comdirect Bank AG.		506
	352,638	e	Comerica, Inc		8,100
	379,963	e	Commerce Bancshares, Inc		13,204
	904,048		Commercial International Bank		3,474
	3,097,362	*	Commerzbank AG.		7,763
	1,496,466	e	Commonwealth Bank of Australia		65,081
	185,851	e	Community Bank System, Inc		4,217
	78,460	e	Community Trust Bancorp, Inc		1,827
	85,630,048		CorpBanca S.A.		1,071
	654,000	*	Cosmos Bank Taiwan		111
	110,540		Credicorp Ltd (NY)		10,192
	963,689	e	Credit Agricole S.A.		6,628
	115,512	e	Credito Emiliano S.p.A.		458
	1,735,970	e	Criteria Caixacorp S.A.		7,606
	91,931	e	Cullen/Frost Bankers, Inc		4,216
	386,522	e	CVB Financial Corp		2,972
	534,600	e	Dah Sing Banking Group Ltd		478
	183,600		Dah Sing Financial Holdings Ltd		507
	637,000		Daishi Bank Ltd		2,180
	565,136	*	Danske Bank AS		7,904
	2,397,096		DBS Group Holdings Ltd		21,495
	59,216		Dena Bank		93
	722,608	*	Development Credit Bank Ltd		640
	2,118		Dewan Housing Finance Corp Ltd		10
	528,507	*	Dexia		1,005
	198,260	*	DGB Financial Group Co Ltd		2,348
	2,263,489		Dhanalakshmi Bank Ltd		3,380
	150,703	e	Dime Community Bancshares		1,527
	1,710,322		DNB NOR Holding ASA		17,045

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	570,051	*,e	Doral Financial Corp	$	621
	6,128,620		E.Sun Financial Holding Co Ltd		2,997
	59,838	*,e	Eagle Bancorp, Inc		704
	1,602,872		East West Bancorp, Inc		23,899
	223,943	*	EFG Eurobank Ergasias S.A.		274
	201,904		Ehime Bank Ltd		619
	300,000		Eighteenth Bank Ltd		907
	27,659	*,e	Encore Bancshares, Inc		295
	24,674	e	Enterprise Bancorp, Inc		304
	80,392	e	Enterprise Financial Services Corp		1,093
	153,505		Erste Bank der Oesterreichischen Sparkassen AG.		3,915
	55,588	e	ESB Financial Corp		609
	62,295	e	ESSA Bancorp, Inc		655
	2,514,136		Far Eastern International Bank		954
	35,316	e	Federal Agricultural Mortgage Corp (Class C)		672
	224,840		Federal Bank Ltd		1,681
	19,980	*	FHB Mortgage Bank plc		45
	9,316	*	FIBI Holdings Ltd		142
	288,400		FIDEA Holdings Co Ltd		862
	6,799,354	e	Fifth Third Bancorp		68,673
	63,843	e	Financial Institutions, Inc		910
	4,960	*,m	Fionia Bank AS		0	^
	94,366	e	First Bancorp (NC)		947
	2,309	*,e	First Bancorp (Puerto Rico)		6
	40,135	e	First Bancorp, Inc		505
	453,379	e	First Busey Corp		1,972
	9,144	e	First Citizens Bancshares, Inc (Class A)		1,313
	516,478	e	First Commonwealth Financial Corp		1,911
	61,667		First Community Bancshares, Inc		629
	40,300	*	First Connecticut Bancorp		456
	46,169	*,e	First Defiance Financial Corp		619
	306,104	e	First Financial Bancorp		4,224
	128,112	e	First Financial Bankshares, Inc		3,351
	57,543	e	First Financial Corp		1,583
	7,954,174		First Financial Holding Co Ltd		5,084
	107,912	e	First Financial Holdings, Inc		433
	4,667,306	e	First Horizon National Corp		27,817
	51,309		First International Bank Of Israel Ltd		513
	82,730	e	First Interstate Bancsystem, Inc		886
	143,761		First Merchants Corp		1,014
	334,409	e	First Midwest Bancorp, Inc		2,448
	532,815	e	First Niagara Financial Group, Inc		4,875
	30,464	e	First of Long Island Corp		690
	35,028	e	First Pactrust Bancorp, Inc		397
	562,453	*,e	First Republic Bank		13,026
	514,049	e	FirstMerit Corp		5,840
	635,916	*	Flagstar Bancorp, Inc		312
	173,074	e	Flushing Financial Corp		1,869
	628,336	e	FNB Corp		5,385
	59,331	e	Fox Chase Bancorp, Inc		752
	54,654	*,e	Franklin Financial Corp		603
	344,000		Fukui Bank Ltd		1,143

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	682,350		Fukuoka Financial Group, Inc	$	2,855
	352,506	e	Fulton Financial Corp		2,697
	171,782	*	Geniki Bank		68
	56,240		Genworth MI Canada, Inc		1,086
	65,019	e	German American Bancorp, Inc		1,048
	400,140	*	Getin Holding S.A.		865
	354,088	e	Glacier Bancorp, Inc		3,318
	65,782	e	Great Southern Bancorp, Inc		1,104
	218,206	*	Greek Postal Savings Bank		220
	6,124		Gruh Finance Ltd		62
	2,528,089	e	Grupo Financiero Banorte S.A. de C.V.		7,503
	3,567,132		Grupo Financiero Inbursa S.A.		6,001
	673,203		Gunma Bank Ltd		3,752
	271,150	e	Hachijuni Bank Ltd		1,661
	42,733	*,e	Hampton Roads Bankshares, Inc		201
	377,260		Hana Financial Group, Inc		10,969
	340,622	e	Hancock Holding Co		9,122
	825,677	e	Hang Seng Bank Ltd		9,673
	847,855	*,e	Hanmi Financial Corp		704
	2,227,019		HDFC Bank Ltd		21,067
	73,633	e	Heartland Financial USA, Inc		1,044
	85,773	*,e	Heritage Commerce Corp		330
	83,788	e	Heritage Financial Corp		925
	188,000		Higashi-Nippon Bank Ltd		413
	353,331		Higo Bank Ltd		2,128
	88,493	e	Hiroshima Bank Ltd		438
	384,000		Hokkoku Bank Ltd		1,436
	404,000		Hokuetsu Bank Ltd		876
	192,806		Hokuhoku Financial Group, Inc		421
	97,570		Home Bancshares, Inc		2,070
	44,169		Home Capital Group, Inc		1,838
	77,407	e	Home Federal Bancorp, Inc		605
	716,700		Hong Leong Bank BHD		2,279
	244,812		Hong Leong Credit BHD		830
	1,706,650		Housing Development Finance Corp		22,217
	29,889,069		HSBC Holdings plc		228,930
	5,560,136		Hua Nan Financial Holdings Co Ltd		3,311
	1,151,722	e	Hudson City Bancorp, Inc		6,519
	49,776	e	Hudson Valley Holding Corp		868
	15,170,194	e	Huntington Bancshares, Inc		72,817
	487,692		Hyakugo Bank Ltd		2,073
	468,000		Hyakujushi Bank Ltd		2,142
	138,073	e	IBERIABANK Corp		6,498
	1,197,214		ICICI Bank Ltd		21,118
	101,174	e	Independent Bank Corp		2,200
	453,439		IndusInd Bank Ltd		2,414
	125,702,000	e	Industrial & Commercial Bank of China		60,700
	330,200		Industrial Bank of Korea		3,833
	1,050,215		ING Vysya Bank Ltd		6,383
	291,226	e	International Bancshares Corp		3,830
	3,166,541		Investimentos Itau S.A. - PR		16,050
	186,202	*,e	Investors Bancorp, Inc		2,352

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	544,626	*	Israel Discount Bank Ltd	$	799
	10,700		Itau Unibanco Banco Multiplo S.A. (ADR)		166
	36,236		Iyo Bank Ltd		370
	6,452		Jammu & Kashmir Bank Ltd		105
	88,690		Jeonbuk Bank		371
	935,939		Joyo Bank Ltd		4,354
	636,555		Juroku Bank Ltd		2,090
	85,921	*	Jyske Bank		2,542
	204,000		Kagoshima Bank Ltd		1,480
	346,535		Kansai Urban Banking Corp		634
	171,700	*,e	Kanto Tsukuba Bank Ltd		638
	205,710		Karnataka Bank Ltd		351
	4,095	*	Karur Vusya Bank Ltd		31
	497,100		Kasikornbank PCL		1,854
	95,300		Kasikornbank PCL - NVDR		355
	1,937,600		Kasikornbank PCL (Foreign)		7,357
	1,061,793		KB Financial Group, Inc		35,084
	595,394		KBC Groep NV		13,736
	72,724	e	Kearny Financial Corp		643
	979,000		Keiyo Bank Ltd		5,293
	3,197,371	e	Keycorp		18,960
	537,300		Kiatnakin Bank PCL		494
	1,218,000	*	King’s Town Bank		667
	1,365,000		Kiyo Holdings, Inc		2,115
	33,523		Komercni Banka AS		6,217
	1,060,140		Korea Exchange Bank		6,214
	3,690,400		Krung Thai Bank PCL		1,815
	98,309	e	Lakeland Bancorp, Inc		769
	87,513	e	Lakeland Financial Corp		1,808
	5,687		Lakshmi Vilas Bank Ltd		11
	34,752		Laurentian Bank of Canada		1,485
	933,088		LIC Housing Finance Ltd		4,008
	19,310		Liechtenstein Landesbank		1,099
	48,777,991	*	Lloyds TSB Group plc		26,187
	338,827	e	M&T Bank Corp		23,684
	133,580	e	MainSource Financial Group, Inc		1,165
	6,608,750		Malayan Banking BHD		16,469
	1,183,300		Malaysia Building Society		476
	2,843,953		Marfin Popular Bank Public Co Ltd		1,350
	246,434	e	MB Financial, Inc		3,628
	17,670,987		Mega Financial Holding Co Ltd		12,134
	26,874	e	Merchants Bancshares, Inc		720
	50,021	*,e	Meridian Interstate Bancorp, Inc		546
	1,770,611		Metropolitan Bank & Trust		2,646
	910,051	*,e	MGIC Investment Corp		1,702
	28,069	e	Midsouth Bancorp, Inc		302
	165,000		Mie Bank Ltd		429
	414,000		Minato Bank Ltd		792
	23,355,264	e	Mitsubishi UFJ Financial Group, Inc		107,193
	7,793,097	e	Mitsui Trust Holdings, Inc		25,794
	247,000		Miyazaki Bank Ltd		584
	314,270		Mizrahi Tefahot Bank Ltd		2,582

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,458,523	e	Mizuho Financial Group, Inc	$	32,888
	68,668		Musashino Bank Ltd		2,459
	340,928		Nanto Bank Ltd		2,048
	160,735	*,e	Nara Bancorp, Inc		976
	2,820,140	e	National Australia Bank Ltd		59,904
	319,186		National Bank of Canada		21,288
	847,115	*	National Bank of Greece S.A.		3,065
	38,789	e	National Bankshares, Inc		936
	584,623	e	National Penn Bancshares, Inc		4,098
	97,911		National Societe Generale Bank SAE		377
	2,844,427		Natixis		8,948
	169,553	e	NBT Bancorp, Inc		3,157
	262,335		Nedbank Group Ltd		4,428
	770,292	e	New York Community Bancorp, Inc		9,165
	934,185		Nishi-Nippon City Bank Ltd		2,871
	72,025	*,f	NOMOS-BANK (GDR) (purchased 04/19/11, cost $1,148)		687
	3,597,123		Nordea Bank AB		29,112
	72,694	e	Northfield Bancorp, Inc		962
	513,857	e	Northwest Bancshares, Inc		6,120
	66,758	e	OceanFirst Financial Corp		779
	341,452	*	Ocwen Financial Corp		4,511
	627,000		Ogaki Kyoritsu Bank Ltd		2,168
	214,000		Oita Bank Ltd		716
	432,370	e	Old National Bancorp		4,030
	43,241	*,e	OmniAmerican Bancorp, Inc		590
	176,285	e	Oriental Financial Group, Inc		1,705
	224,701	e	Oritani Financial Corp		2,890
	33,779	e	Orrstown Financial Services, Inc		434
	291,471	e	OTP Bank		4,289
	52		Otzar Hityashvuth Hayehudim		71
	1,011,551	e	Oversea-Chinese Banking Corp		6,234
	37,083	*,e	Pacific Capital Bancorp		946
	71,023	e	Pacific Continental Corp		504
	161,017	e	PacWest Bancorp		2,245
	707,207		Paragon Group of Cos plc		1,686
	5,500		Parana Banco S.A.		29
	60,931	e	Park National Corp		3,222
	169,308	*,e	Park Sterling Bank		579
	18,087	e	Penns Woods Bancorp, Inc		592
	72,612	*	Pennsylvania Commerce Bancorp, Inc		628
	65,159	e	Peoples Bancorp, Inc		717
	1,273,763	e	People’s United Financial, Inc		14,520
	429,240	*	Philippine National Bank		453
	590,258	e	Piccolo Credito Valtellinese Scarl		1,767
	155,865	*,e	Pinnacle Financial Partners, Inc		1,705
	2,338,578	*	Piraeus Bank S.A.		1,446
	665,256	*,e	PMI Group, Inc		133
	2,672,483	e	PNC Financial Services Group, Inc		128,788
	1,805,733	*,e	Popular, Inc		2,709
	901,954		Powszechna Kasa Oszczednosci Bank Polski S.A.		8,887
	270,296	e	PrivateBancorp, Inc		2,033
	217,590	e	Prosperity Bancshares, Inc		7,111

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	292,243		Provident Financial Services, Inc	$	3,142
	180,025	e	Provident New York Bancorp		1,048
	7,786,000		PT Bank Bukopin Tbk		489
	15,882,000		PT Bank Central Asia Tbk		13,765
	4,237,735		PT Bank Danamon Indonesia Tbk		2,196
	10,543,500		PT Bank Jabar Banten Tbk		1,063
	16,307,382		PT Bank Mandiri Persero Tbk		11,529
	14,061,023		PT Bank Negara Indonesia		5,875
	7,231,000		PT Bank Tabungan Negara Tbk		983
	78,946		Public Bank BHD		301
	1,665,911		Public Bank BHD (Foreign)		6,416
	18,510		Punjab & Sind Bank		25
	573,514	e	Radian Group, Inc		1,256
	190,179	e	Raiffeisen International Bank Holding AG.		5,505
	2,512,635	e	Regions Financial Corp		8,367
	143,639	e	Renasant Corp		1,829
	70,060	e	Republic Bancorp, Inc (Class A)		1,241
	2,646,640		Resona Holdings, Inc		12,627
	799,900		RHB Capital BHD		1,746
	406,700		Rizal Commercial Banking Corp		296
	127,324		Rockville Financial, Inc		1,207
	40,384	e	Roma Financial Corp		329
	5,200	*,m	Roskilde Bank		0	^
	135,601	e	Royal Bank of Canada		6,200
	1,806,019		Royal Bank of Canada (Toronto)		82,830
	17,491,312	*	Royal Bank of Scotland Group plc		6,257
	123,866	e	S&T Bancorp, Inc		2,002
	55,198	e	S.Y. Bancorp, Inc		1,028
	102,070		Sandy Spring Bancorp, Inc		1,493
	212,000		San-In Godo Bank Ltd		1,633
	885,300		Sapporo Hokuyo Holdings, Inc		3,137
	3,970,968		Sberbank of Russian Federation (ADR)		35,302
	78,541	e	SCBT Financial Corp		1,938
	393,916	*,e	Seacoast Banking Corp of Florida		579
	374,016		Security Bank Corp		740
	774,388		Sekerbank TAS		389
	1,298,800		Senshu Ikeda Holdings, Inc		2,126
	730		Seven Bank Ltd		1,425
	452,000		Shiga Bank Ltd		3,110
	280,000		Shikoku Bank Ltd		1,146
	9,800		Shimizu Bank Ltd		437
	990,220		Shinhan Financial Group Co Ltd		34,526
	12,793,823		Shinsei Bank Ltd		14,380
	1,918,559	e	Shizuoka Bank Ltd		20,101
	1,944,800		Siam Commercial Bank PCL		6,578
	63,071	e	Sierra Bancorp		577
	202,063	*,e	Signature Bank		9,644
	89,899	e	Simmons First National Corp (Class A)		1,951
	7,855,820		SinoPac Financial Holdings Co Ltd		2,516
	1,913,806		Skandinaviska Enskilda Banken AB (Class A)		10,288
	842,709		Societe Generale		22,060
	763,910		South Indian Bank Ltd		345

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	99,254	e	Southside Bancshares, Inc	$	1,788
	117,571	*	Southwest Bancorp, Inc		496
	153,764		Sparebanken Midt-Norge		1,023
	3,476		St Galler Kantonalbank		1,539
	1,781,871		Standard Bank Group Ltd		20,386
	2,519,540		Standard Chartered plc		50,267
	21,824	e	Standard Chartered plc (Hong Kong)		439
	76,718	e	State Bancorp, Inc		811
	118,225	*,e	State Bank & Trust Co		1,492
	10,927		State Bank of Bikaner & Jaip		88
	51,330		State Bank of India Ltd		1,991
	29,573	f	State Bank of India Ltd (GDR) (purchased 08/27/09, cost $3,342)		2,485
	2,543		State Bank of Travancore		31
	106,760	e	StellarOne Corp		1,062
	119,608		Sterling Bancorp		868
	131,019	*,e	Sterling Financial Corp		1,622
	42,380		Suffolk Bancorp		353
	2,530,471	e	Sumitomo Mitsui Financial Group, Inc		71,297
	260,105	*,e	Sun Bancorp, Inc		689
	942,012	e	SunTrust Banks, Inc		16,909
	586,678	e	Suruga Bank Ltd		5,716
	634,741	e	Susquehanna Bancshares, Inc		3,472
	192,810	*,e	SVB Financial Group		7,134
	958,627		Svenska Handelsbanken (A Shares)		24,393
	804,072		Swedbank AB (A Shares)		8,878
	105,485		Sydbank AS		1,866
	135,979		Syndicate Bank		287
	2,172,355	e	Synovus Financial Corp		2,324
	2,899,800	*	Ta Chong Bank Co Ltd		753
	2,048,762	*	Taichung Commercial Bank		662
	7,038,019		Taishin Financial Holdings Co Ltd		2,692
	3,640,453	*	Taiwan Business Bank		1,079
	4,981,273		Taiwan Cooperative Bank		2,992
	55,855	*,e	Taylor Capital Group, Inc		359
	448,985	e	TCF Financial Corp		4,113
	66,129		Territorial Bancorp, Inc		1,266
	153,314	*,e	Texas Capital Bancshares, Inc		3,503
	132,048	*,e	TFS Financial Corp		1,074
	115,834	*	The Bancorp, Inc		829
	737,200		Tisco Bank PCL		847
	169,000		Tochigi Bank Ltd		656
	290,000		Toho Bank Ltd		804
	41,500	*	Tokyo Tomin Bank Ltd		541
	309,500		Tomony Holdings, Inc		1,395
	50,376	e	Tompkins Trustco, Inc		1,802
	1,414,540		Toronto-Dominion Bank		100,688
	309,000		Towa Bank Ltd		394
	58,023	e	Tower Bancorp, Inc		1,215
	98,724	e	TowneBank		1,122
	69,893	e	Trico Bancshares		858
	391,057	e	Trustco Bank Corp NY		1,744

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	312,998	e	Trustmark Corp	$	5,681
	4,477,225		Turkiye Garanti Bankasi AS		17,326
	560,807		Turkiye Halk Bankasi AS		4,002
	2,789,547		Turkiye Is Bankasi (Series C)		7,166
	701,511		Turkiye Sinai Kalkinma Bankasi AS.		749
	1,117,461		Turkiye Vakiflar Bankasi Tao		2,227
	327,683		UCO Bank		435
	156,998	e	UMB Financial Corp		5,036
	531,257	e	Umpqua Holdings Corp		4,670
	12,327,369		UniCredito Italiano S.p.A.		13,072
	46,277		Union Bank of Israel		154
	541,000	*	Union Bank Of Taiwan		180
	99,761	e	Union Bankshares Corp		1,069
	208,678	e	United Bankshares, Inc		4,192
	154,467	*,e	United Community Banks, Inc		1,311
	74,146	e	United Financial Bancorp, Inc		1,015
	813,679		United Overseas Bank Ltd		10,463
	72,148		Univest Corp of Pennsylvania		962
	12,162,092	e	US Bancorp		286,297
	325,722		UTI Bank Ltd		6,732
	20,130		Valiant Holding		2,712
	300,650	e	Valley National Bancorp		3,184
	173,237		ViewPoint Financial Group		1,984
	436,660		Vijaya Bank		483
	132,737	*,e	Virginia Commerce Bancorp		779
	2,531,864	f	VTB Bank OJSC (GDR) (purchased 02/27/09, cost $13,727)		10,374
	46,823	*,e	Walker & Dunlop, Inc		544
	55,743		Washington Banking Co		542
	198,020	e	Washington Federal, Inc		2,523
	60,455	e	Washington Trust Bancorp, Inc		1,196
	340,534	e	Webster Financial Corp		5,210
	31,848,442		Wells Fargo & Co		768,185
	115,959	e	WesBanco, Inc		2,007
	89,806	e	West Bancorporation, Inc		762
	90,141	*,e	West Coast Bancorp		1,262
	127,267	e	Westamerica Bancorporation		4,877
	325,082	*,e	Western Alliance Bancorp		1,781
	128,401	e	Westfield Financial, Inc		846
	3,687,993	e	Westpac Banking Corp		71,419
	237,569	*,e	Wilshire Bancorp, Inc		651
	344,454		Wing Hang Bank Ltd		2,780
	169,593	e	Wintrust Financial Corp		4,377
	701,020		Woori Finance Holdings Co Ltd		5,944
	33,498	e	WSFS Financial Corp		1,058
	27,000		Yachiyo Bank Ltd		769
	216,000	e	Yamagata Bank Ltd		1,180
	277,905		Yamaguchi Financial Group, Inc		2,809
	210,000		Yamanashi Chuo Bank Ltd		964
	2,118,752	*	Yapi ve Kredi Bankasi		4,678
	55,800		Yes Bank Ltd		309
	921,059	e	Zions Bancorporation		12,959
			TOTAL BANKS		4,968,457

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
CAPITAL GOODS - 7.9%
	164,344	*,e	3D Systems Corp	$	2,299
	1,713,695	e	3M Co		123,027
	244,559	e	A.O. Smith Corp		7,833
	393,059	*,e	A123 Systems, Inc		1,352
	161,129		Aalberts Industries NV		2,396
	79,254	e	Aaon, Inc		1,248
	190,875	e	AAR Corp		3,182
	833,262		ABB Ltd		14,254
	54,795	e	Abengoa S.A.		1,162
	40,001		ABG Shipyard Ltd		321
	50,000		Ablerex Electronics Co Ltd		109
	3,685,992		Aboitiz Equity Ventures Inc		3,185
	547,000		AcBel Polytech, Inc		235
	186,915	*,e	Accuride Corp		957
	199,000		ACES Electronic Co Ltd		318
	114,295	e	Aceto Corp		605
	31,737	e	ACS Actividades Cons y Servicios S.A.		1,118
	43,000		Acter Co Ltd		153
	383,880	*,e	Active Power, Inc		495
	326,236	e	Actuant Corp (Class A)		6,443
	177,121	e	Acuity Brands, Inc		6,383
	320,610		Adani Enterprises Ltd		3,436
	68,543		Aditya Birla Nuvo Ltd		1,270
	168,000		Advan Co Ltd		1,605
	49,000		Advanced Ceramic X Corp		144
	311,100	*,e	Aecom Technology Corp		5,497
	78,555		Aecon Group, Inc		562
	117,629	*,e	Aerovironment, Inc		3,311
	28,428		AFG Arbonia-Forster Hldg		495
	26,100		AG Growth International Inc		933
	1,370,949	*,e	AGCO Corp		47,394
	1,925		AIA Engineering Ltd		12
	120,399		Aica Kogyo Co Ltd		1,722
	40,500		Aichi Corp		166
	75,000		Aida Engineering Ltd		359
	98,975	*,e	Air Lease Corp		1,900
	222,734	e	Aircastle Ltd		2,120
	126,857	*	Akfen Holding AS.		635
	61,051		Alamo Group, Inc		1,269
	226,239		Alarko Holding AS		385
	132,495		Albany International Corp (Class A)		2,418
	136,927		Alesco Corp Ltd		178
	87,815	e	Alfa Laval AB		1,382
	884,509		Alfa S.A. de C.V. (Class A)		9,215
	7,899,100		Alliance Global Group, Inc		1,668
	120,642	e	Alliant Techsystems, Inc		6,576
	22,292		Allied Electronics Corp Ltd		71
	135,679		Allied Electronics Corp Ltd (Preference)		394
	24,862		Alstom Projects India Ltd		262

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	17,196	e	Alstom RGPT	$	566
	118,147	*	Altra Holdings, Inc		1,367
	1,077,025		Amada Co Ltd		7,085
	138,700		Amano Corp		1,247
	3,104		Amara Raja Batteries Ltd		13
	84,512	*,e	Ameresco, Inc		859
	57,807	*	American Railcar Industries, Inc		889
	58,574	e	American Science & Engineering, Inc		3,576
	219,460	*,e	American Superconductor Corp		862
	43,103		American Woodmark Corp		522
	48,725	e	Ameron International Corp		4,139
	736,246	e	Ametek, Inc		24,274
	50,592	e	Ampco-Pittsburgh Corp		1,035
	34,000	*	Amrep Corp		0	^
	255,000	*	Amtek Engineering Ltd		125
	76,237		Andritz AG.		6,207
	3,360,000	*	Apac Resources Ltd		115
	137,237	e	Apogee Enterprises, Inc		1,179
	247,661		Applied Industrial Technologies, Inc		6,726
	71,878	e	Arcadis NV		1,312
	41,890		Areva T&D India Ltd		186
	52,138	*,e	Argan, Inc		531
	133,780	e	Armstrong World Industries, Inc		4,607
	21,447		Armtec Infrastructure Income Fund		19
	518,282	*,e	ArvinMeritor, Inc		3,659
	73,200	e	Asahi Diamond Industrial Co Ltd		1,018
	1,800,205		Asahi Glass Co Ltd		17,576
	91,651		Aselsan Elektronik Sanayi Ve Ticaret AS		359
	1,080,406		Ashok Leyland Ltd		573
	1,290,543		Ashtead Group plc		2,651
	1,465,208	e	Assa Abloy AB (Class B)		30,146
	168,096		Astaldi S.p.A.		932
	95,508	*,e	Astec Industries, Inc		2,796
	46,681	*,e	Astronics Corp		1,319
	321,016		Asunaro Aoki Construction Co Ltd		1,792
	6,321		A-Tech Solution Co Ltd		47
	544,272	e	Atlas Copco AB (A Shares)		9,634
	82,209		Atlas Copco AB (B Shares)		1,287
	108,119	*	ATS Automation Tooling Systems, Inc		635
	654,108		Ausdrill Ltd		1,686
	107,833		Ausenco Ltd		229
	1,253,451		Austal Ltd		2,643
	57,652		Austin Engineering Ltd		198
	530,248		Aveng Ltd		2,259
	52,126		AZZ, Inc		2,021
	33,087		B&B Tools AB		251
	476,455	*,e	Babcock & Wilcox Co		9,315
	60,009	e	Badger Meter, Inc		1,736
	2,694,575		BAE Systems plc		11,129
	1,186,734		Balfour Beatty plc		4,694
	196,000		Bando Chemical Industries Ltd		744
	50,000		Baoye Group Co Ltd		27

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	279,150		Barloworld Ltd	$	2,081
	228,104	e	Barnes Group, Inc		4,391
	78,615		Basil Read Holdings Ltd		131
	8,405		Bauer AG.		192
	16,802		BayWa AG.		651
	415,288	*,e	BE Aerospace, Inc		13,750
	51,554	*	BE Group AB		173
	57	*,e	Beacon Power Corp		0	^
	184,677	*,e	Beacon Roofing Supply, Inc		2,953
	725,400	e	Beijing Enterprises Holdings Ltd		3,642
	2,592	e	Bekaert S.A.		106
	238,332		Belden CDT, Inc		6,147
	5,252		BEML Ltd		49
	167,200	*	Benalec Holdings BHD		56
	4,320,600	*	Berjaya Corp BHD		1,352
	39,902	*,e	Berliner Communications, Inc		198
	801,000		BES Engineering Corp		195
	528,759		Besalco S.A.		648
	148,490	*	Bharat Heavy Electricals Ltd		4,951
	10,415		BHI Co Ltd		139
	457,104		Bidvest Group Ltd		8,416
	17,968	*	Biesse S.p.A.		64
	77,975		Bilfinger Berger AG.		5,877
	83,838		Bird Construction Income Fund		792
	184,367	*,e	Blount International, Inc		2,463
	664,697	e	Boart Longyear Group		1,643
	11,644	*	Bobst Group AG.		248
	584,761		Bodycote plc		2,238
	4,546,337	e	Boeing Co		275,098
	183,000		Boer Power Holdings Ltd		45
	2,287,921		Bombardier, Inc		8,013
	53,900		Boskalis Westminster		1,658
	5,775		Bossard Holding AG.		664
	611,600		Boustead Holdings BHD		960
	164,409	e	Bouygues S.A.		5,439
	220,739		Bradken Ltd		1,390
	227,487	e	Brady Corp (Class A)		6,012
	34,075		Brenntag AG.		2,956
	266,565	e	Briggs & Stratton Corp		3,601
	370,611	*,e	Broadwind Energy, Inc		119
	17,054		Bucher Industries AG.		2,644
	11,106		Budimex S.A.		242
	205,510	*,e	Builders FirstSource, Inc		261
	68,000	e	Bunka Shutter Co Ltd		209
	570,347	e	Bunzl plc		6,796
	52,444		Burckhardt Compression Holding AG.		10,327
	2,506,000	*	Burwill Holdings Ltd		39
	920,349		CAE, Inc		8,633
	177,700		Cahya Mata Sarawak BHD		108
	46,328	*	CAI International, Inc		543
	976,843	*,e	Capstone Turbine Corp		977
	33,823	e	Carbone Lorraine		1,339

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	178,420		Cardno Ltd	$	794
	48,914	e	Cargotec Corp (B Shares)		1,186
	741,363	e	Carillion plc		3,832
	210,947	e	Carlisle Cos, Inc		6,725
	26,137	*	Carraro S.p.A.		78
	41,908	e	Cascade Corp		1,399
	3,208,799		Caterpillar, Inc		236,939
	738,000		Central Glass Co Ltd		3,598
	9,491		CENTROTEC Sustainable AG.		172
	105,903	*,e	Ceradyne, Inc		2,848
	38,117	*	Cersanit Krasnystaw S.A.		54
	97,000		Champion Building Materials Co Ltd		51
	218,500	*	Changchai Co Ltd		86
	60,239	*	Changs Ascending Enterprise Co Ltd		145
	54,754,438		Changsha Zoomlion Heavy Industry Science and Technology Development Co Ltd		61,188
	118,011	*	Chart Industries, Inc		4,977
	221,284		Charter International plc		2,971
	260,372		Chemring Group plc		2,132
	348,000		Chen Hsong Holdings		119
	878,028		Chicago Bridge & Iron Co NV		25,138
	965,350		Chien Kuo Construction Co Ltd		451
	86,660	*	Chin Hung International, Inc		13
	819,000		China Automation Group Ltd		207
	13,223,000		China Communications Construction Co Ltd		8,587
	5,804,000	*	China Daye Non-Ferrous Metals Mining Ltd		269
	570,000		China Electric Manufacturing Corp		357
	531,050	*	China Fangda Group Co Ltd		166
	3,848,000		China Haidian Holdings Ltd		308
	1,782,700	e	China High Speed Transmission Equipment Group Co Ltd		815
	1,103,070		China International Marine Containers Co Ltd (Class B)		1,114
	2,131,000		China National Materials Co Ltd		766
	3,178,000		China Railway Construction Corp		1,330
	6,493,000	e	China Railway Group Ltd		1,295
	277,000		China Singyes Solar Technologies Holdings Ltd		121
	3,809,500		China South Locomotive and Rolling Stock Corp		1,350
	1,316,000		China State Construction International Holdings Ltd		693
	182,380	*	China Textile Machinery		103
	409,928	e	Chiyoda Corp		3,996
	14,600	*	Chiyoda Integre Co Ltd		203
	1,486,000		Chongqing Machinery & Electric Co Ltd		216
	1,563		Chosun Refractories Co Ltd		79
	36,000		Chudenko Corp		469
	122,989		Chugai Ro Co Ltd		408
	845,000		Chung Hsin Electric & Machinery Manufacturing Corp		408
	25,300		Churchill Corp		316
	9,200		Cia Providencia Industria e Comercio S.A.		28
	1,431,442	e	Cintra Concesiones de Infraestructuras de Transporte S.A.		16,318
	548,239	e	CIR-Compagnie Industriali Riunite S.p.A.		1,031
	76,000	e	CIRCOR International, Inc		2,232
	2,443,814	e	Citic Pacific Ltd		3,441
	5,487,000	*	Citic Resources Holdings Ltd		513

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	20,355		CJ Corp	$	1,342
	127,800		CKD Corp		754
	89,402		Clal Industries and Investments		364
	237,703	e	Clarcor, Inc		9,836
	346,736		Clough Ltd		247
	183,467	*,e	CNH Global NV		4,814
	238,000	*	CNNC International Ltd		59
	403,866		Coastal Contracts BHD		218
	131,547	e	Cobham plc		356
	459,368		Cofide S.p.A.		378
	34,689	*,e	Coleman Cable, Inc		293
	123,750	*,e	Colfax Corp		2,507
	81,382	*,e	Columbus McKinnon Corp		892
	208,802	e	Comfort Systems USA, Inc		1,737
	110,527	*,e	Commercial Vehicle Group, Inc		726
	2,201,743		Compagnie de Saint-Gobain		83,999
	7,985		Compagnie d’Entreprises CFE		424
	180,100		COMSYS Holdings Corp		1,774
	124,070	*	Concentric AB		542
	3,807		Construcciones y Auxiliar de Ferrocarriles S.A.		1,926
	1,081,000		Continental Engineering Corp		350
	6,099,461		Cookson Group plc		40,691
	446,790	e	Cooper Industries plc		20,606
	665,131	e	Cosco Corp Singapore Ltd		464
	1,452,000		Cosco International Holdings Ltd		506
	26,885	e	Cosel Co Ltd		403
	49,951		Costain Group plc		167
	35,858		Cramo Oyj (Series B)		303
	295,391		Crane Co		10,543
	680,000		Crompton Greaves Ltd		2,105
	1,291,000		CSBC Corp Taiwan		1,047
	678,922	e	CSR Ltd		1,512
	1,288,000		CTCI Corp		1,541
	112,286		Cubic Corp		4,387
	1,248,054	e	Cummins, Inc		101,917
	220,725	e	Curtiss-Wright Corp		6,364
	661,000		DA CIN Construction Co Ltd		364
	93,690	*	Daekyung Machinery & Engr Co		236
	38,368		Daelim Industrial Co		3,063
	138,695		Daewoo Engineering & Construction Co Ltd		1,049
	47,438		Daewoo International Corp		1,167
	167,631		Daewoo Shipbuilding & Marine Engineering Co Ltd		3,142
	118,500		Daifuku Co Ltd		635
	134,641	e	Daihen Corp		513
	175,000		Daiichi Jitsugyo Co Ltd		774
	99,822	e	Daikin Industries Ltd		2,859
	70,000		Daiwa Industries Ltd		360
	190,200		Dalian Refrigeration Co Ltd		123
	2,745,594		Danaher Corp		115,150
	54,949	e	Danieli & Co S.p.A.		1,132
	131,541		Danieli & Co S.p.A. (RSP)		1,483
	180,661		DCC plc		4,538

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	94,237	*	Deceuninck NV	$	169
	133,322		Decmil Group Ltd		233
	852,970	e	Deere & Co		55,077
	9,479		Delek Group Ltd		1,437
	18,700	*	Denyo Co Ltd		231
	83,652	*	Deutz AG.		463
	2,164,500		Dialog Group BHD		1,505
	3,160,000	*	Dickson Group Holdings Ltd		65
	212,044	*,e	DigitalGlobe, Inc		4,120
	34,306		Discount Investment Corp		262
	192,400		DMCI Holdings, Inc		151
	4,470		Dohwa Consulting Engineers Co Ltd		62
	330,918		Donaldson Co, Inc		18,134
	8,330		Dong Yang Gang Chul Co Ltd		16
	6,150		Dong-Ah Geological Engineering Co Ltd		51
	27,070		Dongbu Corp		108
	570,800	e	Dongfang Electric Co Ltd		1,467
	26,169		Dongkuk Structures & Construction Co Ltd		63
	28,723		Doosan Corp		3,242
	27,900	*	Doosan Engine Co Ltd		301
	85,630		Doosan Engineering & Construction Co Ltd		264
	57,373		Doosan Heavy Industries and Construction Co Ltd		2,677
	169,280	*	Doosan Infracore Co Ltd		2,548
	95,866	e	Douglas Dynamics, Inc		1,225
	1,261,514	e	Dover Corp		58,788
	67,281	e	Ducommun, Inc		1,008
	40,641		Duerr AG.		1,310
	145,756	e	Duro Felguera S.A.		912
	58,004	*	DXP Enterprises, Inc		1,092
	199,713	*	Dycom Industries, Inc		3,056
	86,421	e	Dynamic Materials Corp		1,361
	176,000		Dynapack International Technology Corp		602
	1,687		e Tec E&C Ltd		64
	1,379,343	e	Eaton Corp		48,967
	729,828		Ebara Corp		2,888
	15,696		Eczacibasi Yatirim Holding		40
	937		Eicher Motors Ltd		31
	25,872	e	Eiffage S.A.		798
	15,761		Elbit Systems Ltd		614
	1,307		Electra Israel Ltd		111
	18,143		Electrosteel Castings Ltd		11
	41,563		ElSwedy Cables Holding Co		152
	346,182	*,e	EMCOR Group, Inc		7,038
	1,158,096		Emeco Holdings Ltd		1,082
	2,351,467		Emerson Electric Co		97,139
	872,645		Empresa Brasileira de Aeronautica S.A.		5,453
	27,537		Empresa Brasileira de Aeronautica S.A. (ADR)		699
	717,719		Empresas COPEC S.A.		8,563
	160,600	*	Empresas ICA SAB de C.V. (ADR)		713
	1,400,400	*,e	Empresas ICA Sociedad Controladora S.A. de C.V.		1,563
	78,391	e	Encore Wire Corp		1,613
	318,980	*,e	Ener1, Inc		44

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	172,885	*,e	Energy Recovery, Inc	$	520
	745,462		Energy Support Corp		1,666
	276,174	*	EnerSys		5,529
	50,943		ENG Electric Co Ltd		133
	3,274,097		Engineers India Ltd		16,398
	421,965		Enka Insaat ve Sanayi AS		1,014
	101,464	*,e	EnPro Industries, Inc		3,011
	96,000	*	Enric Energy Equipment Holdings Ltd		24
	2,488		Entrepose Contracting		278
	147,980		ESCO Technologies, Inc		3,773
	210,403		Escorts Ltd		301
	88,288	*,e	Essex Rental Corp		217
	139,494	*,e	Esterline Technologies Corp		7,231
	83,900		Eucatex S.A. Industria e Comercio		300
	1,335,923	e	European Aeronautic Defence and Space Co		37,551
	1,336,000		EVA Precision Industrial Holdings Ltd		333
	14,999		Fabryka Kotlow Rafako S.A.		40
	7,419		Faiveley S.A.		445
	251,803	*,e	Fanuc Ltd		34,685
	5,167,172		Far Eastern Textile Co Ltd		5,271
	974,127	e	Fastenal Co		32,419
	254,666	e	Federal Signal Corp		1,126
	270,618		Fenner plc		1,305
	220,757		Ferreyros S.A.		196
	1,795,626	*	FIAT Industrial S.p.A.		13,417
	509,403		Finmeccanica S.p.A.		3,525
	327,817		Finning International, Inc		5,991
	10,763		Finolex Cables Ltd		8
	842,000		First Tractor Co		497
	189,123	*,e	Flow International Corp		418
	158,562	e	Flowserve Corp		11,734
	79,147	e	FLSmidth & Co AS		3,965
	1,179,694		Fluor Corp		54,916
	4,031		FMS Enterprises Migun Ltd		66
	21,495	e	Fomento de Construcciones y Contratas S.A.		530
	328,733	*,e	Force Protection, Inc		1,266
	55,632		Forge Group Ltd		230
	523,000		Fortune Electric Co Ltd		258
	290,100		Foshan Electrical and Lighting Co Ltd		211
	38	*,e	Foster Wheeler AG.		1
	143,606	e	Franklin Electric Co, Inc		5,210
	1,349,099		Fraser and Neave Ltd		5,922
	57,900	*,e	Freightcar America, Inc		834
	63,071		Frigoglass S.A.		452
	297,942		FSP Technology, Inc		227
	183,200	*,e	Fudo Tetra Corp		378
	500,940	*,e	FuelCell Energy, Inc		421
	85,302	*,e	Fuji Electric Holdings Co Ltd		221
	68,096		Fuji Machine Manufacturing Co Ltd		1,204
	548,978	e	Fujikura Ltd		1,797
	138,000		Fujitec Co Ltd		747
	160,729	*	Furmanite Corp		870

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	413,000	*,e	Furukawa Co Ltd	$	402
	790,762		Furukawa Electric Co Ltd		2,154
	40,019	*	Futaba Corp/Chiba		821
	306,000		G Shank Enterprise Co Ltd		176
	668,000	*	Gallant Venture Ltd		138
	109,511		Galliford Try plc		747
	355,449	e	Gamesa Corp Tecnologica S.A.		1,589
	2,139,500		Gamuda BHD		1,913
	578,535	e	Gardner Denver, Inc		36,766
	130,440	e	GATX Corp		4,042
	13,703		GEA Group AG.		320
	20,939		Geberit AG.		3,866
	87,634		GEK Group of Cos S.A.		140
	516,550	*,e	GenCorp, Inc		2,319
	98,664	*,e	Generac Holdings, Inc		1,856
	148,785	*,e	General Cable Corp		3,474
	870,645	e	General Dynamics Corp		49,531
	45,033,668	e	General Electric Co		686,314
	90,728	*	GeoEye, Inc		2,572
	5,212		Georg Fischer AG.		1,807
	7,591		Gesco AG.		589
	128,985	*,e	Gibraltar Industries, Inc		1,047
	292,221		Giken Seisakusho Co, Inc		1,629
	64,584	e	Gildemeister AG.		818
	71,499	*,e	Global Power Equipment Group, Inc		1,664
	430,000		Globe Union Industrial Corp		246
	75,256		Glory Ltd		1,769
	388,000		Good Friend International Holdings, Inc		191
	1,040,848		Goodrich Corp		125,610
	64,137	e	Gorman-Rupp Co		1,584
	176,104	e	Graco, Inc		6,012
	358,860	*,e	GrafTech International Ltd		4,558
	289,335	e	Grafton Group plc		1,030
	51,095	e	Graham Corp		850
	88,682		Grana y Montero S.A.		174
	169,131	e	Granite Construction, Inc		3,175
	52,211		Granite Hacarmel Investments Ltd		72
	9,950		Graphite India Ltd		15
	355,592	e	Great Lakes Dredge & Dock Corp		1,447
	14,415		Greaves Cotton Ltd		26
	91,033	*,e	Greenbrier Cos, Inc		1,061
	230,448	*,e	Griffon Corp		1,885
	21,188		Grontmij NV (ADR)		298
	149,813		Group Five Ltd		480
	955,037		Grupo Carso S.A. de C.V. (Series A1)		2,220
	82,975		Gruppo Beghelli S.p.A.		50
	51,909		GS Engineering & Construction Corp		4,211
	19,800		GS Global Corp		174
	286,065	e	GS Yuasa Corp		1,341
	98,800		Guangzhou Shipyard International Co Ltd		65
	312,604	e	GWA International Ltd		598
	118,415	*	H&E Equipment Services, Inc		977

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,257,000		Haitian International Holdings Ltd	$	977
	55,224	e	Haldex AB		206
	1,907	*	Halim Co Ltd		3
	7,770		Halla Engineering & Construction Corp		88
	3,357		Hamon & CIE S.A.		82
	385,013		Hampson Industries plc		57
	93,031		Hamworthy plc		739
	445,840		Hangzhou Steam Turbine Co		469
	39,020		Hanjin Heavy Industries & Construction Co Ltd		548
	35,060		Hanjin Heavy Industries & Construction Holdings Co Ltd		209
	708,092	*	Hansen Transmissions International NV		720
	539,395		Hanwa Co Ltd		2,438
	1,392,000	e	Harbin Power Equipment		1,134
	10,800	e	Harmonic Drive Systems, Inc		208
	248,075	e	Harsco Corp		4,810
	94,373		Havells India Ltd		699
	12,945		Haw Par Corp Ltd		52
	3,390		HEG Ltd		15
	167,506	e	Heico Corp		8,248
	259,276	*,e	Heidelberger Druckmaschinen		541
	19,209		Heijmans NV (ADR)		256
	167,708		Hellenic Technodomiki Tev S.A.		323
	4,403,800		Hemaraj Land and Development PCL		277
	2,804,000	e	Henderson Investment Ltd		175
	399,556	*	Hexcel Corp		8,854
	72,064		Hexpol AB (Series B)		1,328
	47,000		Hibiya Engineering Ltd		532
	306,659	e	Hills Industries Ltd		296
	2,457,366		Hindustan Construction Co		1,434
	435,977		Hino Motors Ltd		2,594
	27,000		Hisaka Works Ltd		302
	233,000	*,e	Hitachi Cable Ltd		606
	100,534	e	Hitachi Construction Machinery Co Ltd		1,683
	1,611,399	e	Hitachi Zosen Corp		2,402
	232,560		Hiwin Technologies Corp		1,577
	4,838,000	*	HKC Holdings Ltd		178
	318,000	*	HL TECHNOLOGY GROUP		51
	1,201		HNK Machine Tool Co Ltd		16
	3,350		Hochtief AG.		209
	437,976		Hock Seng Lee BHD		178
	310,030		Hold-Key Electric Wire & Cable Co Ltd		103
	20,203	e	Homag Group AG.		259
	7,673,782		Honeywell International, Inc		336,955
	2,324,000	*	Hong Kong Resources Holdings Co Ltd		82
	159,000		Hong Leong Asia Ltd		180
	519,000		Hong TAI Electric Industrial		157
	65,700		Hoshizaki Electric Co Ltd		1,601
	97,000		Hosokawa Micron Corp		436
	80,524	e	Houston Wire & Cable Co		925
	911,000		HUA ENG Wire & Cable		257
	189,400		Huangshi Dongbei Electrical Appliance Co Ltd		121
	106,606	e	Hubbell, Inc (Class B)		5,281

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,972		Huber & Suhner AG.	$	885
	88,545	*,e	Huntington Ingalls		2,154
	25,820	*	Hurco Cos, Inc		524
	2,318,961		Hutchison Whampoa Ltd		17,161
	39,346	*	Hydrobudowa Polska S.A.		8
	17,644		Hy-Lok Corp		227
	22,920		Hyundai Corp		576
	76,326		Hyundai Development Co		1,061
	5,551		Hyundai Elevator Co Ltd		643
	92,778		Hyundai Engineering & Construction Co Ltd		4,693
	67,222		Hyundai Heavy Industries		15,607
	28,754		Hyundai Mipo Dockyard		2,475
	5,839		Hyunjin Materials Co Ltd		53
	77,800		Idec Corp		841
	233,151	e	IDEX Corp		7,265
	394,887	*	Ihlas Holding		186
	209,544	*,e	II-VI, Inc		3,667
	1,988,259		IJM Corp BHD		3,093
	31,410		Iljin Electric Co Ltd		122
	50,010		Iljin Holdings Co Ltd		83
	1,678,384	e	Illinois Tool Works, Inc		69,822
	23,520		IMARKETKOREA,Inc		305
	615,810		IMI plc		6,759
	389,975	e	Impregilo S.p.A.		966
	15,792	*	IMS-Intl Metal Service		197
	103,440		Imtech NV		2,910
	29,100		Inaba Denki Sangyo Co Ltd		894
	57,100		Inabata & Co Ltd		325
	40,892		Indus Holding AG.		1,029
	761,229		Industrea Ltd		882
	6,809		Industria Macchine Automatiche S.p.A.		119
	39,000		Industrias Romi S.A.		142
	19,825		Indutrade AB		472
	996		Ingersoll-Rand India Ltd		10
	920,484	e	Ingersoll-Rand plc		25,856
	189,101	*,e	Insituform Technologies, Inc (Class A)		2,190
	70,996	e	Insteel Industries, Inc		715
	2,925,000	*	Interchina Holdings Co		399
	150,737	*,e	Interline Brands, Inc		1,940
	916,500		International Mining Machinery Holdings Ltd		915
	89,272	e	Interpump Group S.p.A.		507
	305,960	e	Interserve plc		1,428
	4,974,745		Invensys plc		17,330
	111,800		Iochpe-Maxion S.A.		1,131
	456,886		IRB Infrastructure Developers Ltd		1,509
	13,880		IS Dongseo Co Ltd		96
	251,000	e	Iseki & Co Ltd		617
	181,000		I-Sheng Electric Wire & Cable Co Ltd		198
	7,924,141		Ishikawajima-Harima Heavy Industries Co Ltd		17,470
	1,650,000		Italian-Thai Development PCL		175
	2,655,977	e	Itochu Corp		25,380
	522,616		ITT Industries, Inc		21,950

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	567,084		IVRCL Infrastructures & Projects Ltd	$	404
	310,000		Iwatani International Corp		1,050
	569,135	*,e	Jacobs Engineering Group, Inc		18,377
	316,302		Jain Irrigation Systems Ltd		980
	1,155,489		Jaiprakash Associates Ltd		1,700
	168,604		Japan Pulp & Paper Co Ltd		640
	407,443	e	Japan Steel Works Ltd		2,430
	1,029,000	*	Jaya Holdings Ltd		373
	79,000	*	Jenn Feng New Energy Co Ltd		77
	239,000		JFE Shoji Holdings, Inc		1,054
	231,800		JG Summit Holdings (Series B)		113
	287,294		JGC Corp		7,026
	2,660,000		Jiangsu Rongsheng Heavy Industry Group Co Ltd		720
	74,000		Jingwei Textile Machinery		36
	6,772		Jinsung T.E.C.		49
	124,508	e	John Bean Technologies Corp		1,775
	2,329,500	e	Johnson Electric Holdings Ltd		1,168
	963,147		Joy Global, Inc		60,082
	316,691		JS Group Corp		8,866
	869,977		JTEKT Corp		10,410
	316,000	*,e	Juki Corp		596
	46,750		Jungheinrich AG.		1,242
	9,921	*	JVM Co Ltd		363
	21,204		Jyoti Structures Ltd		29
	3,805		Kaba Holding AG.		1,295
	102,438	*,e	Kadant, Inc		1,819
	1,032,434	e	Kajima Corp		3,388
	8,178		Kalpataru Power Transmission Ltd		18
	118,498		Kaman Corp		3,300
	128,000		Kandenko Co Ltd		596
	554,000	*,e	Kanematsu Corp		473
	5,488	*	Kardex AG.		83
	23,600		Katakura Industries Co Ltd		244
	940,000	e	Kato Works Co Ltd		2,452
	23,000		Kaulin Manufacturing Co Ltd		17
	1,115,640	e	Kawasaki Heavy Industries Ltd		2,845
	140,816	e	Kaydon Corp		4,039
	1,803,573	e	KBR, Inc		42,619
	9,090		KCC Corp		1,698
	8,053		KCC Engineering & Construction Co Ltd		269
	66,866	e	KCI Konecranes Oyj		1,344
	21,660	*	Keangnam Enterprises Ltd		179
	10,039		KEC International Ltd		12
	25,000	e	Keihan Electric Railway Co Ltd		120
	70,433		Keller Group plc		364
	185,050		Kenmec Mechanical Engineering Co Ltd		95
	948,898	e	Kennametal, Inc		31,067
	1,589,700	*	Kepler Weber S.A.		211
	3,301,907		Keppel Corp Ltd		19,363
	75,844	*,e	KEYW Holding Corp		539
	69,890		Kier Group plc		1,371
	169,937		Kinden Corp		1,469

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	189,000		King Slide Works Co Ltd	$	658
	171,151		Kingspan Group plc		1,429
	49,000		Kinik Co		61
	50,000		Kinki Sharyo Co Ltd		179
	125,000		Kitz Corp		632
	132,944		Kloeckner & Co AG.		1,637
	1,641,801		KOC Holding AS		6,069
	1,643,163	e	Komatsu Ltd		35,427
	7,743		Komax Holding AG.		539
	80,690	e	Komori Corp		531
	21,265		Kone Oyj (Class B)		1,011
	307,328		Koninklijke BAM Groep NV		1,228
	85,653		Koninklijke Philips Electronics NV		1,537
	16,342		Koor Industries Ltd		141
	69,625	*	Kopex S.A.		384
	23,810		Korea Electric Terminal Co Ltd		392
	179,736	*,e	Kratos Defense & Security Solutions, Inc		1,208
	14,777		Krones AG.		766
	235		KSB AG.		153
	168,707	e	Kubota Corp		1,376
	33,668	*	KUKA AG.		601
	5,000		Kumho Electric Co Ltd		81
	64,961	*	Kumho Industrial Co Ltd		318
	11,910	e	Kurita Water Industries Ltd		334
	28,270		Kuroda Electric Co Ltd		337
	67,000		Kyosan Electric Manufacturing Co Ltd		352
	111,600	e	Kyowa Exeo Corp		1,065
	69,000		Kyudenko Corp		472
	532,218	e	L-3 Communications Holdings, Inc		32,982
	1,074		Lakshmi Machine Works Ltd		43
	1,714,000	*	Lanco Infratech Ltd		547
	411,486		Larsen & Toubro Ltd		11,341
	321,969	e	Lavendon Group plc		485
	20,037	e	Lawson Products, Inc		271
	101,670	*	Layne Christensen Co		2,349
	53,096	e	LB Foster Co (Class A)		1,180
	63,954		Legrand S.A.		1,994
	201,036	e	Leighton Holdings Ltd		3,570
	151,827	e	Lennox International, Inc		3,914
	380,000		Leoch International Technology Ltd		140
	164,151		LG Corp		8,200
	13,364		LG Hausys Ltd		773
	42,570		LG International Corp		1,554
	385,691		Lincoln Electric Holdings, Inc		11,189
	80,310		Lindab International AB		505
	51,317	e	Lindsay Manufacturing Co		2,761
	7,342		LISI		502
	900,000		LK Technology Holdings Ltd		219
	38,476	*,e	LMI Aerospace, Inc		656
	1,005,288	e	Lockheed Martin Corp		73,024
	159,000		Longwell Co		158
	6,225,000		Lonking Holdings Ltd		2,025

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	23,638		LS Cable Ltd	$	1,457
	19,425		LS Industrial Systems Co Ltd		822
	78,944	e	LSI Industries, Inc		492
	134,000	*	Luoyang Glass Co Ltd		27
	22,700	*	Lupatech S.A.		100
	68,791	*,e	Lydall, Inc		612
	23,060		Mabuchi Motor Co Ltd		1,071
	812,511		Macmahon Holdings Ltd		464
	175,000		Maeda Corp		647
	113,000	e	Maeda Road Construction Co Ltd		1,232
	156,247		Maire Tecnimont S.p.A.		129
	190,748	*,e	Makino Milling Machine Co Ltd		1,120
	127,511	*	Makita Corp		4,538
	653,649		Malaysia Marine and Heavy Engineering Sdn BHD		1,118
	2,224,300		Malaysian Resources Corp BHD		1,152
	12,507		MAN AG.		969
	15,414	*	Manitou BF S.A.		243
	374,527	e	Manitowoc Co, Inc		2,513
	392,400		Marcopolo S.A.		1,440
	3,413,636		Marubeni Corp		19,062
	4,021,607	e	Masco Corp		28,634
	244,018	*,e	Mastec, Inc		4,297
	44,000		Max Co Ltd		569
	78,187	*	MAX India Ltd		300
	7,748	*	Maytas Infra Ltd		14
	2,270,188		Meggitt plc		11,754
	325,000	e	Meidensha Corp		1,210
	710,588		Melrose plc		3,203
	4,736,000		Metallurgical Corp of China Ltd		907
	53,663		Metka S.A.		401
	61,154		Met-Pro Corp		525
	116,525		Metso Oyj		3,411
	117,114	*	Meyer Burger Technology AG.		2,968
	48,546	*	Michael Baker Corp		929
	75,403		Micron Machinery Co Ltd		1,543
	75,224	*,e	Middleby Corp		5,300
	57,578	e	Miller Industries, Inc		999
	369,500		Mills Estruturas e Servicos de		3,793
	290,967		Minebea Co Ltd		977
	67,600		Miraito Holdings Corp		538
	553,600		Mirle Automation Corp		442
	107,400		MISUMI Group, Inc		2,387
	2,696,199		Mitsubishi Corp		54,894
	2,972,820		Mitsubishi Electric Corp		26,333
	2,818,932	e	Mitsubishi Heavy Industries Ltd		11,889
	81,000		Mitsubishi Kakoki Kaisha Ltd		164
	110,700		Mitsuboshi Belting Co Ltd		624
	3,321,697	e	Mitsui & Co Ltd		48,116
	719,354	e	Mitsui Engineering & Shipbuilding Co Ltd		1,208
	158,000	*	Mitsui Matsushima Co Ltd		275
	31,600	e	Miura Co Ltd		925
	3,087,174		MMC Corp BHD		2,478

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	154,066		Monadelphous Group Ltd	$	2,553
	222,701	*,e	Moog, Inc (Class A)		7,265
	765,122		Morgan Crucible Co plc		2,894
	70,662		Morgan Sindall plc		604
	130,000	e	Mori Seiki Co Ltd		1,169
	127,405		Mostalzab		41
	180,423		Mota Engil SGPS S.A.		248
	127,289	e	MSC Industrial Direct Co (Class A)		7,187
	81,630		MTU Aero Engines Holding AG.		5,090
	397,466		Mudajaya Group BHD		242
	8,619		Muehlbauer Holding AG. & Co KGaA		297
	213,856	e	Mueller Industries, Inc		8,253
	681,789	e	Mueller Water Products, Inc (Class A)		1,691
	78,500		Muhibbah Engineering M BHD		24
	848,354		Murray & Roberts Holdings Ltd		2,721
	93,620	*	MYR Group, Inc		1,651
	350,810	e	Nabtesco Corp		6,631
	29,990	e	Nacco Industries, Inc (Class A)		1,901
	289,332		Nachi-Fujikoshi Corp		1,407
	315,828		Nagarjuna Construction Co		387
	251,400		Nagase & Co Ltd		3,105
	42,300		Namura Shipbuilding Co Ltd		136
	19,077	e	National Presto Industries, Inc		1,658
	3,396		Nava Bharat Ventures Ltd		13
	198,804	*,e	Navistar International Corp		6,386
	178,767		NCC AB (B Shares)		2,909
	104,451	*,e	NCI Building Systems, Inc		790
	13,200		NEC Capital Solutions Ltd		178
	24,700		NEC Networks & System Integration Corp		388
	454,351		Neo-Neon Holdings Ltd		71
	30,704	e	Nexans S.A.		1,777
	181,050		NGK Insulators Ltd		2,724
	151,915		Nibe Industrier AB (Series B)		2,180
	192,000		Nichias Corp		1,121
	8,000		Nichiden Corp		281
	41,000		Nichiha Corp		460
	51,370	e	Nidec Corp		4,137
	138,000		Nippo Corp		1,203
	465,000		Nippon Carbon Co Ltd		1,462
	80,000		Nippon Densetsu Kogyo Co Ltd		853
	137,000		Nippon Road Co Ltd		366
	181,730	e	Nippon Sharyo Ltd		776
	636,356	e	Nippon Sheet Glass Co Ltd		1,424
	64,800		Nippon Signal Co Ltd		506
	65,000		Nippon Steel Trading Co Ltd		183
	191,000	e	Nippon Thompson Co Ltd		1,141
	432,000		Nishimatsu Construction Co Ltd		671
	18,000		Nishio Rent All Co Ltd		117
	192,000	e	Nisshinbo Industries, Inc		1,674
	93,000	e	Nissin Electric Co Ltd		696
	29,200		Nitta Corp		623
	358,000	*,e	Nitto Boseki Co Ltd		1,092

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	64,600		Nitto Kogyo Corp	$	877
	13,973		Nitto Kohki Co Ltd		342
	24,460		NK Co Ltd		90
	31,000	e	NKT Holding AS		1,118
	68,377	*,e	NN, Inc		345
	7,744,459		Noble Group Ltd		7,726
	51,800	*,e	Nordex AG.		254
	290,044	e	Nordson Corp		11,526
	232,919		Noritake Co Ltd		826
	37,200		Noritz Corp		851
	366,000	*	Northeast Electric Development Co Ltd		36
	852,526	e	Northrop Grumman Corp		44,468
	42,275	*,e	Northwest Pipe Co		858
	638,920		NRW Holdings Ltd		1,408
	584,482		NSK Ltd		4,295
	4,290,497		NTN Corp		20,121
	1,749,550		NWS Holdings Ltd		2,315
	21,100		Obara Corp		252
	660,809		Obayashi Corp		3,264
	56,625		Obrascon Huarte Lain S.A.		1,390
	233,073	*	OC Oerlikon Corp AG.		1,321
	4,295		OHB AG.		62
	157,300		Oiles Corp		3,083
	187,641		Okuma Holdings, Inc		1,140
	221,000		Okumura Corp		860
	6,291	e	Omega Flex, Inc		84
	30,600		Onoken Co Ltd		281
	132,374		Orascom Construction Industries		4,665
	249,434	*	Orbital Sciences Corp		3,193
	46,000	e	Organo Corp		356
	131,840	*	Orion Marine Group, Inc		761
	64,182		Orkla ASA		488
	82,184		Ormat Industries		459
	101,700		OSG Corp		1,225
	258,464	*	Oshkosh Truck Corp		4,068
	916,000		Otto Marine Ltd		93
	61,678		Outotec Oyj		2,202
	332,292	*,e	Owens Corning, Inc		7,204
	1,504,727	e	Paccar, Inc		50,890
	17,261		Palfinger AG.		360
	405,261		Pall Corp		17,183
	5,731,000		Pan-United Corp Ltd		1,814
	934,774	e	Parker Hannifin Corp		59,013
	161,006		Patel Engineering Ltd		305
	19,555		PBG S.A.		328
	221,257	e	Peab AB (Series B)		1,080
	280,693	e	Pentair, Inc		8,985
	420,000	e	Penta-Ocean Construction Co Ltd		1,216
	157,599	e	Perini Corp		1,811
	11,097		Pfeiffer Vacuum Technology AG.		975
	107,000		Phihong Technology Co Ltd		140
	79,436	*,e	Pike Electric Corp		538

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY		VALUE (000)
	15,495	*	Pinguely-Haulotte	$	132
	479,452	*	Pipavav Shipyard Ltd		765
	36,311		Pkc Group Oyj		499
	5,301		Plasson		123
	74,177	*,e	PMFG, Inc		1,170
	1,119,144		Polimex Mostostal S.A.		444
	11,734		Polnord S.A.		41
	235,000		Polyplex PCL		95
	154,355	*	Polypore International, Inc		8,724
	13,910		Ponsse Oy		132
	50,190	*,e	Powell Industries, Inc		1,554
	15,000	*	Powercom Co Ltd		12
	82,914	*,e	PowerSecure International, Inc		392
	215,931		Praj Industries Ltd		309
	1,121,052	e	Precision Castparts Corp		174,279
	13,968	e	Preformed Line Products Co		640
	161,433	e	Primoris Services Corp		1,689
	78,700	*	Promotora y Operadora de Infraestructura SAB de C.V.		290
	15,939	e	Prysmian S.p.A.		209
	3,875,500		PT AKR Corporindo Tbk		1,046
	78,355,500	*	PT Bakrie and Brothers Tbk		449
	564,500		PT Hexindo Adiperkasa Tbk		469
	4,416,500		PT Pembangunan Perumahan Tbk		164
	3,051,516		PT United Tractors Tbk		7,540
	5,300,000		PT Wijaya Karya		292
	751,670		Punj Lloyd Ltd		825
	77,305	*	Pursuit Dynamics plc		208
	914,269		QinetiQ plc		1,649
	195,782	e	Quanex Building Products Corp		2,144
	614,271	*,e	Quanta Services, Inc		11,542
	3,656		R Stahl AG.		100
	183,632		Ramirent Oyj		1,126
	166,400		Randon Participacoes S.A.		900
	325,700	m	Ranhill BHD		91
	4,546		Rational AG.		1,021
	310,464		Raubex Group Ltd		504
	71,129		Raven Industries, Inc		3,428
	1,105,242	e	Raytheon Co		45,171
	86,571	*	RBC Bearings, Inc		2,943
	46,350		Rechi Precision Co Ltd		32
	111,295	e	Regal-Beloit Corp		5,051
	351,114		Reunert Ltd		2,543
	433,513		Rheinmetall AG.		20,334
	281,537		Rich Development Co Ltd		106
	3,762	*	Rieter Holding AG.		599
	170,656		Robbins & Myers, Inc		5,923
	469,822	e	Rockwell Automation, Inc		26,310
	993,208	e	Rockwell Collins, Inc		52,402
	10,181		Rockwool International AS (B Shares)		898
	2,803,591		Rolls-Royce Group plc		25,773
	1,432,946	e	Roper Industries, Inc		98,745
	6,612		Rosenbauer International AG.		280

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY		VALUE (000)
	331,000		Rotary Engineering Ltd	$	147
	119,747		Rotork plc		2,882
	272,079	*,e	RSC Holdings, Inc		1,940
	53,000		Ruentex Engineering & Construction Co		37
	126,499	*,e	Rush Enterprises, Inc (Class A)		1,791
	148,233		Russel Metals, Inc		2,947
	463,000		Ryobi Ltd		2,115
	14,020		S&T Holdings Co Ltd		126
	155,306		Saab AB (Class B)		2,786
	170,356	e	Sacyr Vallehermoso S.A.		944
	607,293		Safran S.A.		18,578
	32,013		Saft Groupe S.A.		860
	409,950		Salfacorp S.A.		1,074
	10,564		Sambu Construction Co Ltd		53
	193,631		Samsung Corp		11,271
	45,855		Samsung Engineering Co Ltd		8,853
	212,856		Samsung Heavy Industries Co Ltd		4,872
	47,734		Samsung Techwin Co Ltd		2,175
	273,000		San Shing Fastech Corp		384
	1,921,156		Sandvik AB		22,138
	70,000		Sanki Engineering Co Ltd		389
	331,000	*	Sankyo-Tateyama Holdings, Inc		431
	303,000	e	Sanwa Shutter Corp		993
	950,000		Sany Heavy Equipment International		751
	71,000		Sanyo Denki Co Ltd		445
	239,000		Sasebo Heavy Industries Co Ltd		392
	334,921	*,e	SatCon Technology Corp		318
	88,559	*	Sauer-Danfoss, Inc		2,559
	194,881		Scania AB (B Shares)		2,784
	6,437		Schindler Holding AG.		682
	4,953		Schindler Holding AG. (Reg)		540
	651,421		Schneider Electric S.A.		34,861
	29,163		Schouw & Co		539
	991		Schweiter Technologies AG.		541
	1,767		Seaboard Corp		3,184
	66,087	e	SeaCube Container Leasing Ltd		802
	21,000		SEC Carbon Ltd		94
	231,503		Sedgman Ltd		416
	80,000		Seika Corp		229
	112,000		Sekisui Jushi Corp		1,171
	2,865,248		SembCorp Industries Ltd		7,395
	3,471,273	e	SembCorp Marine Ltd		8,500
	12,088		Semperit AG. Holding		480
	1,008,302		Senior plc		2,257
	69,881	*,e	Sensata Technologies Holding BV		1,849
	8,477		Seoul Marine Co Ltd		44
	293,536		Seven Network Ltd		2,234
	129,160		Severfield-Rowen plc		300
	50,220		Sewon Cellontech Co Ltd		163
	66,358	*,e	SGL Carbon AG.		3,493
	385,308	*	SGSB Group Co Ltd		175
	144,200	*	Shanghai Automation Instrumentation Co Ltd		86

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	471,800		Shanghai Diesel Engine Co Ltd	$	408
	8,878,000	e	Shanghai Electric Group Co Ltd		3,411
	746,600	*	Shanghai Erfangji Co Ltd		286
	347,800		Shanghai Highly Group Co Ltd		199
	1,102,400		Shanghai Industrial Holdings Ltd		3,084
	218,200	*	Shanghai Lingyun Industries Development Co Ltd		97
	131,800		Shanghai Material Trading Co Ltd		82
	426,020		Shanghai Mechanical and Electrical Industry Co Ltd		457
	1,216,000		Shanghai Prime Machinery Co Ltd		174
	501,900		Shanghai Waigaoqiao Free Trade Zone Development Co Ltd		354
	208,949	*,e	Shaw Group, Inc		4,543
	14,000		Shenji Group Kunming Machine Tool Co Ltd		3
	220,823		ShenMao Technology, Inc		248
	645,000		Shihlin Electric & Engineering Corp		652
	461,470		Shikun & Binui Ltd		846
	32,800	e	Shima Seiki Manufacturing Ltd		607
	481,933	e	Shimizu Corp		2,115
	184,000		Shin Zu Shing Co Ltd		367
	124,000	e	Shinko Electric Co Ltd		326
	24,000		Shin-Kobe Electric Machinery Co Ltd		407
	338,590		Shinmaywa Industries Ltd		1,262
	65,000		Shinsho Corp		164
	21,400		SHO-BOND Holdings Co Ltd		515
	438,016		Shui On Construction and Materials Ltd		379
	756,375		Siemens AG.		68,051
	66,850		Siemens India Ltd		1,141
	817,853	*	SIG plc		1,176
	218,950		Silitech Technology Corp		530
	4,680,471		Sime Darby BHD		12,296
	176,063	e	Simpson Manufacturing Co, Inc		4,389
	17,366,000		Singamas Container Holdings Ltd		2,859
	442,416	e	Singapore Technologies Engineering Ltd		942
	51,729	*,e	Singulus Technologies		168
	1,965,100		Sino Thai Engineering & Construction PCL		577
	348,726		Sintex Industries Ltd		900
	118,900		Sintokogio Ltd		1,164
	62,940		SK Corp		6,970
	152,170		SK Networks Co Ltd		1,376
	123,548		Skanska AB (B Shares)		1,710
	1,708,987	e	SKF AB (B Shares)		32,201
	1,967		SKF India Ltd		27
	301,291		SM Investments Corp		3,575
	56,577		SMC Corp		8,269
	5,256,003		Smiths Group plc		81,113
	168,373		Snap-On, Inc		7,476
	201,060		SNC-Lavalin Group, Inc		8,448
	57,400	*,e	Sodick Co Ltd		259
	5,666,686		Sojitz Holdings Corp		10,352
	6,876		Solar Holdings AS (B Shares)		264
	13,805	*,e	Solar Millennium AG.		55
	58,976	e	Solaria Energia y Medio Ambiente S.A.		120

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,107,389	e	Sonae SPGS S.A.	$	773
	753,938		Speedy Hire plc		259
	105,776	e	Spirax-Sarco Engineering plc		2,940
	482,815	*,e	Spirit Aerosystems Holdings, Inc (Class A)		7,701
	253,376	e	SPX Corp		11,480
	19,891		SRV Group plc		118
	25,990	*	Ssangyong Engineering & Construction Co Ltd		153
	65,815	e	Standex International Corp		2,049
	625,218		Stanley Works		30,698
	63,133		Stefanutti Stocks Holdings Ltd		87
	103,062	*,e	Sterling Construction Co, Inc		1,151
	77,567		Strabag SE		2,350
	32,049		STX Corp Co Ltd		383
	13,890		Stx Engine Co Ltd		248
	6,290		STX Enpaco Co Ltd		36
	554,000		STX OSV Holdings Ltd		390
	55,350		STX Shipbuilding Co Ltd		741
	1,910		Sulzer AG.		196
	132,000		Sumikin Bussan Corp		298
	2,324,168	e	Sumitomo Corp		28,758
	1,271,453		Sumitomo Electric Industries Ltd		14,932
	1,432,628		Sumitomo Heavy Industries Ltd		7,326
	181,000	e	Sumitomo Precision Products Co Ltd		1,212
	84,811		Sun Hydraulics Corp		1,728
	718,000	*	Sun King Power Electronics Group Ltd		44
	28,990	*	Sung Jin Geotec Co Ltd		249
	13,371		Sung Kwang Bend Co Ltd		168
	373,000		Sunonwealth Electric Machine Industry Co Ltd		321
	148,000		Sunspring Metal Corp		140
	145,668		Superior Plus Corp		1,045
	828,148	*	Suzlon Energy Ltd		611
	329,000	*,e	SWCC Showa Holdings Co Ltd		324
	366,287		Swisslog Holding AG.		279
	1,350,370		Ta Ya Electric Wire & Cable		337
	155,186	e	Tadano Ltd		1,077
	10,658		Taewoong Co Ltd		244
	131,220		Taeyoung Engineering & Construction		677
	88,130	*	Taihan Electric Wire Co Ltd		283
	40,000		Taihei Dengyo Kaisha Ltd		254
	69,000		Taihei Kogyo Co Ltd		327
	103,600	e	Taikisha Ltd		2,332
	495,966	e	Taisei Corp		1,365
	1,257,668		Taiwan Glass Industrial Corp		1,434
	101,000		Takaoka Electric Manufacturing Co Ltd		253
	125,929		Takara Standard Co Ltd		1,042
	77,400	e	Takasago Thermal Engineering Co Ltd		672
	90,000	*,e	Takuma Co Ltd		368
	76,864	e	TAL International Group, Inc		1,917
	228,220	*,e	Taser International, Inc		984
	2,652,315		Tat Hong Holdings Ltd		1,381
	3,157,833		Teco Electric and Machinery Co Ltd		1,688
	79,241	*,e	Tecumseh Products Co (Class A)		578

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	301,252	*,e	Teledyne Technologies, Inc	$	14,719
	113,463	e	Tennant Co		4,013
	309,945	*	Terex Corp		3,180
	21,643		Texmaco Ltd		14
	43,117	e	Textainer Group Holdings Ltd		874
	4,702,873	e	Textron, Inc		82,959
	7,958		Thales S.A.		249
	7,639		Thermax Ltd		69
	41,427	*,e	Thermon Group Holdings		573
	126,593		THK Co Ltd		2,107
	312,105	*,e	Thomas & Betts Corp		12,456
	1,360,000	*	Tianjin Development Hldgs		598
	416,540		Timken Co		13,671
	170,340	e	Titan International, Inc		2,555
	58,373	*,e	Titan Machinery, Inc		1,045
	22,042	*	TK Corp		304
	384,000		Toa Corp/Tokyo		671
	17,900		Tocalo Co Ltd		349
	360,000		Toda Corp		1,404
	49,000		Toenec Corp		293
	50,000	*	Tokai Corp		267
	33,000		Tokyo Energy & Systems, Inc		156
	155,540	*	Tokyu Construction Co Ltd		468
	52,920		Tong-Tai Machine & Tool Co Ltd		41
	115,625		Topco Technologies Corp		234
	23,000		Torishima Pump Manufacturing Co Ltd		323
	147,423	e	Toro Co		7,264
	100,342		Toromont Industries Ltd		1,562
	153,964		Toshiba Machine Co Ltd		639
	54,000	e	Toshiba Plant Systems & Services Corp		535
	64,000	*	Totetsu Kogyo Co Ltd		532
	138,297	e	Toto Ltd		1,220
	1,024,000		Tower Bersama Infrastructure		231
	380,000	e	Toyo Construction Co Ltd		392
	93,000		Toyo Electric Manufacturing Co Ltd		468
	548,957	e	Toyo Engineering Corp		1,830
	13,800	e	Toyo Tanso Co Ltd		574
	607,701		Toyota Tsusho Corp		10,397
	777,000		Tradewinds Corp BHD		171
	9,926	*	Trakcja-Tiltra S.A.		4
	174,762	*,e	TransDigm Group, Inc		14,273
	411,525		Travis Perkins plc		4,828
	118,649	e	Tredegar Corp		1,760
	483,416		Trelleborg AB (B Shares)		3,120
	39,981		Trevi Finanziaria S.p.A.		407
	62,080	*,e	Trex Co, Inc		995
	186,419	*,e	Trimas Corp		2,768
	229,431	e	Trinity Industries, Inc		4,912
	177,825	e	Triumph Group, Inc		8,667
	20,700		Trusco Nakayama Corp		426
	231,000		Tsubakimoto Chain Co		1,201
	262,000	e	Tsugami Corp		1,029

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,000		Tsukishima Kikai Co Ltd	$	276
	692,000		Tuan Sing Holdings Ltd		135
	23,354		Turk Traktor ve Ziraat Makineleri AS.		445
	60,009		Twin Disc, Inc		1,600
	5,556,079	e	Tyco International Ltd		226,411
	91,686		Ultra Electronics Holdings		2,137
	11,700		Union Tool Co		204
	256,000		United Engineers Ltd		346
	586,856	e	United Group Ltd		6,416
	304,000		United Integrated Services Co Ltd		285
	1,346,852	*,e	United Rentals, Inc		22,681
	2,701,355		United Technologies Corp		190,066
	78,493	e	Universal Forest Products, Inc		1,888
	75,257	e	Uponor Oyj		621
	559,025	*,e	URS Corp		16,581
	366,484	*,e	USG Corp		2,466
	1,456,785		Ushio, Inc		22,178
	9,104,000	*	UURG Corp Ltd		222
	17,245		Vacon plc		801
	272,722	*,e	Valence Technology, Inc		284
	432,946	e	Vallourec		24,793
	122,179	e	Valmont Industries, Inc		9,523
	135,395		Veidekke ASA		822
	16,784	*,e	Vestas Wind Systems AS		272
	86,903		Vicor Corp		760
	719,017		Vinci S.A.		30,840
	3,080,000	*	Vitar International Holdings Ltd		389
	62,886		Volex plc		289
	243,528		Voltas Ltd		549
	1,336,965		Volvo AB (B Shares)		13,134
	91,793	e	Von Roll Holding AG.		324
	11,041		Vossloh AG.		1,086
	189,411		W.W. Grainger, Inc		28,325
	263,757	*,e	Wabash National Corp		1,258
	368,714	*,e	WABCO Holdings, Inc		13,960
	35,785	e	Wacker Construction Equipment AG.		405
	280,300		Wafangdian Bearing Co Ltd		180
	34,338		Wajax Income Fund		1,045
	4,316,150		Walsin Lihwa Corp		1,308
	1,710		Walter Meier AG.		393
	306,811	e	Wartsila Oyj (B Shares)		7,280
	138,228	e	Watsco, Inc		7,063
	141,637	e	Watts Water Technologies, Inc (Class A)		3,775
	63,631	*	Wavin NV		489
	124,000		Ways Technical Corp Ltd		340
	1,238,000		WCT Berhad		770
	248,880		Wei Mon Industry Co Ltd		137
	618,000	e	Weichai Power Co Ltd		2,808
	469,431	e	Weir Group plc		11,216
	128,520		Well Shin Technology Co Ltd		140
	60,519	e	Wendel		3,793
	129,623	*,e	WESCO International, Inc		4,349

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	267,565		Westinghouse Air Brake Technologies Corp	$	14,146
	54,805	*	Westport Innovations, Inc		1,589
	4,704,845	e	Wienerberger AG.		54,813
	136,668		Wilson Bayly Holmes-Ovcon Ltd		1,750
	2,628,016		Wolseley plc		65,207
	267,539		Woodward Governor Co		7,331
	26,127		Wooree ETI Co Ltd		59
	41,521	*,e	Xerium Technologies, Inc		435
	36,000		Yahagi Construction Co Ltd		197
	100,000		Yamazen Corp		743
	4,210,370		Yangzijiang Shipbuilding		2,812
	89,689		Yazicilar Holding AS.		454
	1,197,000	*	Ying Li International Real Estate Ltd		222
	174,018	e	YIT Oyj		2,614
	43,000		Yokogawa Bridge Holdings Corp		255
	25,935		Young Poong Precision Corp		192
	614,000		Yuasa Trading Co Ltd		886
	548,000		Yungtay Engineering Co Ltd		846
	53,000		Yurtec Corp		266
	12,100		Yushin Precision Equipment Co Ltd		228
	24,043		Zardoya Otis S.A.		306
	19,040		Zehnder Group AG.		1,065
	9,475		Zhongde Waste Technology AG.		101
	753,000	e	Zhuzhou CSR Times Electric Co Ltd		1,244
	77,440		Zodiac S.A.		5,941
	39,309		Zumtobel AG.		672
			TOTAL CAPITAL GOODS		7,161,165
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
	54,005		Aangpanneforeningen AB (B Shares)		784
	276,484	e	ABM Industries, Inc		5,270
	267,150	*	Acacia Research (Acacia Technologies)		9,615
	244,679	*,e	ACCO Brands Corp		1,167
	3,193		Adcorp Holdings Ltd		10
	1,777,316		Adecco S.A.		70,053
	160,695	e	Administaff, Inc		3,575
	95,548	*,e	Advisory Board Co		6,166
	22,200		Aeon Delight Co Ltd		476
	897,531		Aggreko plc		22,586
	9,651		Akka Technologies S.A.		208
	75,500	*	Alexco Resource Corp		514
	84,025		American Banknote S.A.		856
	83,118	e	American Ecology Corp		1,286
	157,671	*,e	American Reprographics Co		530
	120,242	*,e	APAC Customer Services, Inc		1,024
	78,274		Asahi Holdings, Inc		1,660
	16,650,000	*	Asia Energy Logistics Group Ltd		235
	26,952		Assystem		448
	43,754	*,e	AT Cross Co		494
	228,366		Atkins WS plc		1,917
	194,356	e	Avery Dennison Corp		4,874
	283,506		Babcock International Group		2,890

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	46,882	e	Barrett Business Services, Inc	$	654
	17,791		Bertrandt AG.		846
	166,150		BFI Canada Ltd		3,420
	1,603,665		Brambles Ltd		9,886
	232,546	e	Brink’s Co		5,421
	13,466		Brunel International		433
	4,241		Bureau Veritas S.A.		305
	12,237		BWT AG.		248
	145,427	e	Cabcharge Australia Ltd		605
	115,922		Campbell Brothers Ltd		4,618
	360,397		Cape plc		2,550
	90,659	e	Capita Group plc		993
	147,425	*,e	Casella Waste Systems, Inc (Class A)		775
	217,252	*,e	CBIZ, Inc		1,432
	51,419		CDI Corp		549
	215,028	*,e	Cenveo, Inc		647
	12,785		Cewe Color Holding AG.		486
	3,933,000		China Everbright International Ltd		913
	327,679	e	Cintas Corp		9,221
	232,778	*	Clean Harbors, Inc		11,942
	2,271	e	Compx International, Inc		29
	53,974	*,e	Consolidated Graphics, Inc		1,972
	59,800		Contax Participacoes S.A.		563
	349,460	*,e	Coolbrands International, Inc		1,415
	170,261	*,e	Copart, Inc		6,661
	200,571		Corporate Executive Board Co		5,977
	389,507	*,e	Corrections Corp of America		8,838
	103,103	*,e	CoStar Group, Inc		5,358
	44,974	e	Courier Corp		294
	344,018	e	Covanta Holding Corp		5,226
	44,717	*	CRA International, Inc		895
	555,754	e	Dai Nippon Printing Co Ltd		5,747
	46,000		Daiseki Co Ltd		910
	367,581		Davis Service Group plc		2,460
	132,236		De La Rue plc		1,717
	208,113		Deluxe Corp		3,871
	138,542	*	Derichebourg		497
	142,708	*,e	Dolan Media Co		1,283
	583,782		Downer EDI Ltd		1,598
	242,314	e	Dun & Bradstreet Corp		14,844
	55,698		Duskin Co Ltd		1,137
	2,775,000	*	Eastern Media International Corp		413
	604		eClerx Services Ltd		9
	4,546,503		Edenred		108,309
	480,037	*	EnergySolutions, Inc		1,695
	89,199	*,e	EnerNOC, Inc		803
	150		en-japan, Inc		179
	143,989		Ennis, Inc		1,880
	359,880	e	Equifax, Inc		11,063
	972,300		Experian Group Ltd		10,915
	85,665	*,e	Exponent, Inc		3,541

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,430	*	Fiera Milano S.p.A.	$	90
	3,154,000	*	Fook Woo Group Holdings Ltd		717
	57,392	*,e	Franklin Covey Co		436
	209,904	*,e	FTI Consulting, Inc		7,727
	97,850	*,e	Fuel Tech, Inc		569
	15,463,000	*	Fung Choi Media Group Ltd		1,046
	105,220	e	G & K Services, Inc (Class A)		2,687
	33,485	*	Gategroup Holding AG.		1,037
	32,700		Genivar Income Fund		663
	284,911	*,e	Geo Group, Inc		5,288
	17,163		GL Events		460
	71,968	*,e	GP Strategies Corp		719
	1,034,260		Group 4 Securicor plc		4,279
	5,114		Groupe CRIT		96
	60,817		Gunnebo AB		249
	1,857,256		Hays plc		1,990
	268,124	e	Healthcare Services Group		4,328
	105,647	e	Heidrick & Struggles International, Inc		1,738
	19,150	*,e	Heritage-Crystal Clean, Inc		348
	232,269	e	Herman Miller, Inc		4,148
	128,230	*,e	Higher One Holdings, Inc		2,086
	139,723	*,e	Hill International, Inc		654
	176,009	e	HNI Corp		3,367
	2,162,665		Homeserve plc		15,417
	131,565	*,e	Hudson Highland Group, Inc		450
	101,555	*,e	Huron Consulting Group, Inc		3,161
	127,170	*,e	ICF International, Inc		2,392
	608,457	*,e	ICO Global Communications Holdings Ltd		1,369
	153,024	*,e	IHS, Inc (Class A)		11,448
	104,469	*,e	Innerworkings, Inc		819
	213,890	e	Interface, Inc (Class A)		2,537
	36,748	e	Intersections, Inc		472
	17,262		Intertek Group plc		496
	171,368		Intrum Justitia AB		2,094
	59,234	*	Ipek Matbacilik Sanayi Ve Ticaret AS		111
	511,933	e	Iron Mountain, Inc		16,187
	317,171		ITE Group plc		779
	674,900		JobStreet Corp BHD		503
	80,927	*,e	KAR Auction Services, Inc		980
	131,104	e	Kelly Services, Inc (Class A)		1,495
	24,370		KEPCO Plant Service & Engineering Co Ltd		616
	169,010	*,e	Kforce, Inc		1,658
	853,800		K-Green Trust		582
	153,161	e	Kimball International, Inc (Class B)		744
	234,449	e	Knoll, Inc		3,212
	107,500		Kokuyo Co Ltd		864
	279,026	*	Korn/Ferry International		3,401
	158,000		Kyodo Printing Co Ltd		392
	524,000		L&K Engineering Co Ltd		399
	47,209		Lassila & Tikanoja Oyj		667
	88,885		Loomis AB		1,043
	66,355	*,e	M&F Worldwide Corp		1,634

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	235,367		Manpower, Inc	$	7,913
	38,762		Matsuda Sangyo Co Ltd		586
	100,835		McGrath RentCorp		2,399
	110,665		McMillan Shakespeare Ltd		900
	117,307		Mears Group plc		508
	41,900		Meitec Corp		801
	173,569	*,e	Metalico, Inc		677
	457,485	e	Michael Page International plc		2,607
	110,970		Mine Safety Appliances Co		2,992
	971,783		Mineral Resources Ltd		9,390
	90,273	*,e	Mistras Group, Inc		1,585
	984,580		Mitie Group		3,570
	36,672		Mitsubishi Pencil Co Ltd		676
	6,900		Mitsubishi Research Institute, Inc		123
	147,718	*,e	Mobile Mini, Inc		2,428
	62,460		Morneau Sobeco Income Fund		569
	73,900		Moshi Moshi Hotline, Inc		720
	163,798	*	Mouchel Group plc		87
	49,973	e	Multi-Color Corp		1,129
	17,300		Multiplus S.A.		241
	27,228	*	Mvelaserve Ltd		37
	228,853	*	Navigant Consulting, Inc		2,121
	81,513		Newalta, Inc		902
	330,886	*,e	Nielsen Holdings NV		8,630
	30	*	Nihon M&A Center, Inc		171
	6,200		Nippon Kanzai Co Ltd		119
	40,460		Nissha Printing Co Ltd		466
	267,411	*,e	Odyssey Marine Exploration, Inc		658
	82,000		Okamura Corp		619
	180,491	*	On Assignment, Inc		1,276
	22,768		Oyo Corp		236
	382,700		Park24 Co Ltd		4,756
	224		Pasona Group, Inc		228
	31,100		Pelikan International Corp BHD		8
	229		Pilot Corp		485
	529,016	e	Pitney Bowes, Inc		9,946
	674,555		PMP Ltd		429
	49,138	e	Poyry Oyj		385
	116,855		Proffice AB		339
	257,200		Programmed Maintenance Services Ltd		500
	87,300		PRONEXUS, Inc		449
	44,238		Prosegur Cia de Seguridad S.A.		1,881
	114,168	e	Quad		2,063
	587,518	e	R.R. Donnelley & Sons Co		8,296
	134,059		Randstad Holdings NV		4,274
	899,543		Regus plc		1,023
	2,530,719	*	Rentokil Initial plc		2,808
	2,481,068	e	Republic Services, Inc		69,618
	207,502		Resources Connection, Inc		2,029
	110,392		Ritchie Bros Auctioneers, Inc		2,240
	425,571	e	Robert Half International, Inc		9,031
	253,971	e	Rollins, Inc		4,752

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	299,815		RPS Group plc	$	763
	38,977	*,e	RPX Corp		807
	423,728		RSM Tenon Group plc		145
	24,270		S1 Corp (Korea)		1,103
	357,907		SAI Global Ltd (New)		1,628
	186,399		Salmat Ltd		465
	35,952		Sato Corp		472
	52,225	e	Schawk, Inc (Class A)		515
	86,411	*,e	School Specialty, Inc		616
	6,791		Seche Environnement S.A.		335
	213,878	e	Secom Co Ltd		10,316
	25,420		Securitas AB (B Shares)		185
	438,806	e	Seek Ltd		2,226
	123,702	e	Serco Group plc		979
	546		SGS S.A.		829
	549,263		Shanks Group plc		943
	17,800	*	Shenzhen Dongjiang Environmental Co Ltd		56
	275,198		Skilled Group Ltd		452
	62,134		Societe BIC S.A.		5,290
	233,700		Sohgo Security Services Co Ltd		2,623
	542,995		Spotless Group Ltd		930
	94,543	*,e	Standard Parking Corp		1,479
	76,462	*	Stantec, Inc		1,704
	351,998	e	Steelcase, Inc (Class A)		2,221
	710,166	*,e	Stericycle, Inc		57,324
	134,838		Sthree plc		477
	118,200	*	Swisher Hygiene, Inc		479
	196,639	*	SYKES Enterprises, Inc		2,940
	207,000		Taiwan Secom Co Ltd		371
	8,273,530		Taiwan-Sogo Shinkong Security Corp		6,732
	80,454	*,e	Team, Inc		1,688
	69,969		Teleperformance		1,486
	33,400		Temp Holdings Co Ltd		309
	361,033	*	Tetra Tech, Inc		6,766
	486,000		Tianjin Capital Environmental Protection Group Co Ltd		118
	52,891	*,e	TMS International Corp		385
	10,400		Tokyu Community Corp		348
	207,664	e	Tomra Systems ASA		1,336
	87,700		Toppan Forms Co Ltd		702
	537,944		Toppan Printing Co Ltd		3,918
	336,138		Towers Watson & Co		20,094
	52,010		Transcom WorldWide S.A. (ADR)		61
	139,330	e	Transcontinental, Inc		1,452
	629,877	e	Transfield Services Ltd		1,146
	883,603	*,e	Transpacific Industries Group Ltd		521
	80,158	*,e	TRC Cos, Inc		241
	298,500	*,e	TrueBlue, Inc		3,382
	67,000		Uchida Yoko Co Ltd		180
	71,044	e	Unifirst Corp		3,218
	218,838	e	United Stationers, Inc		5,963
	83,406		USG People NV		691

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	678,424	*,e	Verisk Analytics, Inc	$	23,589
	109,166	e	Viad Corp		1,854
	29,557	e	VSE Corp		765
	656,281	e	Waste Connections, Inc		22,195
	1,369,029	e	Waste Management, Inc		44,575
	69,488	*,e	WCA Waste Corp		295
	320,000		WHK Group Ltd		253
	82,517		WSP Group plc		308
	160,000		Yem Chio Co Ltd		140
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		957,385
CONSUMER DURABLES & APPAREL - 1.8%
	1,492,000		361 Degrees International Ltd		701
	8,672		Accell Group		197
	297,208		Adidas-Salomon AG.		18,087
	5,406		Advanced Digital Broadcast Holdings S.A.		58
	86,000		Advanced International Multitech Co Ltd		95
	42,342		Aksa Akrilik Kimya Sanayii		108
	1,845,735		Alok Industries Ltd		686
	107,400	e	Alpine Electronics, Inc		1,384
	770,000		Altek Corp		766
	21,085		Altinyildiz Mensucat ve Konfeksiyon Fabrikalari AS.		209
	198,085		Amer Sports Oyj (A Shares)		2,498
	189,415	e	American Greetings Corp (Class A)		3,504
	1,251,000		Anta Sports Products Ltd		1,446
	174,714		Arab Cotton Ginning		85
	245,115		Arcelik AS		961
	60,281	*,e	Arctic Cat, Inc		873
	43,600		Arezzo Industria e Comercio S.A.		441
	54,600		Arnest One Corp		564
	32,600	*,e	Aruze Corp		975
	614,520	*	Arvind Ltd		1,226
	245,969	*,e	Ascena Retail Group, Inc		6,658
	135,000	*	Asia Optical Co, Inc		146
	259,451		Asics Corp		3,543
	216,000		Atsugi Co Ltd		259
	45,150		AVY Precision Technology, Inc		99
	50,191	*	Bang & Olufsen AS (B Shares)		548
	1,336,099	*	Barratt Developments plc		1,617
	9,040		Basic House Co Ltd		125
	302,000		Basso Industry Corp		174
	72,290		Bata India Ltd		955
	316,634	*,e	Beazer Homes USA, Inc		478
	2,722,000	*	Beijing Properties Holdings Ltd		137
	150,320		Bellway plc		1,448
	44,433	e	Beneteau S.A.		631
	74,403		Benetton Group S.p.A.		425
	190,550	*	Berkeley Group Holdings plc		3,509
	272,227	e	Billabong International Ltd		859
	25,660		Bjoern Borg AB		138
	30,937		Blyth, Inc		1,715
	57,989		Bombay Dyeing & Manufacturing Co Ltd		433

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,364		Bombay Rayon Fashions Ltd	$	267
	3,960,000		Bosideng International Holdings Ltd		818
	185,506	e	Bovis Homes Group plc		1,163
	433,268		Brookfield Incorporacoes S.A.		1,272
	367,647	e	Brunswick Corp		5,162
	101,418	e	Bulgari S.p.A.		1,662
	990,514		Burberry Group plc		17,987
	65,932		BWG Homes ASA		141
	137,853	*	C Mahendra Exports Ltd		517
	263,418	e	Callaway Golf Co		1,362
	77,800		Camargo Correa Desenvolvimento Imobiliario S.A.		137
	203,714	*	Carter’s, Inc		6,221
	168,031	e	Casio Computer Co Ltd		1,064
	28,019	*,e	Cavco Industries, Inc		965
	40,325	e	Cherokee, Inc		518
	5,886,000		Chigo Holding Ltd		317
	4,397,400		China Dongxiang Group Co		755
	112,116		China Great Star International Ltd		156
	836,000		China Lilang Ltd		806
	868,000		China Ting Group Holdings Ltd		61
	22,600		Chofu Seisakusho Co Ltd		644
	65,363		Christian Dior S.A.		7,318
	165,000	*	Clarion Co Ltd		270
	46,248	*,e	Clarus Corp		302
	28,500	*	Cleanup Corp		178
	1,884,499	e	Coach, Inc		97,675
	51,285	e	Columbia Sportswear Co		2,380
	1,008,826		Compagnie Financiere Richemont S.A.		44,939
	1,134,700	e	Consorcio ARA, S.A. de C.V.		323
	12,000		Corona Corp		224
	437,300	*	Corp GEO S.A. de C.V. (Series B)		567
	332,000		Costin New Materials Group		158
	459,978	*,e	CROCS, Inc		10,888
	49,652	e	CSS Industries, Inc		828
	401,281		Cyrela Brazil Realty S.A.		2,499
	30,200	e	Daidoh Ltd		340
	8,900		Daikoku Denki Co Ltd		80
	136,000	e	Daiwa Seiko, Inc		158
	281,748	*,e	Deckers Outdoor Corp		26,276
	7,972,000	*	Dejin Resources Group Co Ltd		79
	157,236		De’Longhi S.p.A.		1,416
	37,737	*,e	Delta Apparel, Inc		594
	267,200	*,e	Desarrolladora Homex S.A. de C.V.		600
	54,590	e	Descente Ltd		313
	32,991		Dorel Industries, Inc (Class B)		702
	1,986,412	e	DR Horton, Inc		17,957
	45,542		Duni AB		343
	1,263,911	*,e	Eastman Kodak Co		986
	178,520		Eclat Textile Co Ltd		235
	11,270		Elco Holdings Ltd		82
	171,976	e	Electrolux AB (Series B)		2,529
	248,000		Embry Holdings Ltd		119

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	107,135	e	Ethan Allen Interiors, Inc	$	1,458
	185,200		Even Construtora e Incorporadora S.A.		527
	434,000		Evergreen International Holdin		93
	132,400		Ez Tec Empreendimentos e Participacoes S.A.		873
	201,000		Feng TAY Enterprise Co Ltd		164
	312		Fields Corp		557
	7,366		Fila Korea Ltd		441
	1,225,174	*	Fisher & Paykel Appliances Holdings Ltd		417
	55,300		Fiyta Holdings Ltd		65
	2,056		Forbo Holding AG.		806
	7,427		Forjas Taurus S.A.		8
	44,179		Forjas Taurus S.A. (Preference)		42
	692,220		Formosa Taffeta Co Ltd		620
	495,199	e	Fortune Brands, Inc		26,779
	14,613		Forus S.A.		32
	573,248	*,e	Fossil, Inc		46,468
	21,291	e	Foster Electric Co Ltd		251
	175,000		France Bed Holdings Co Ltd		289
	80,000		Fujitsu General Ltd		472
	25,100	e	Funai Electric Co Ltd		492
	212,995	*,e	Furniture Brands International, Inc		439
	774,698		Gafisa S.A.		2,213
	386,360	e	Garmin Ltd		12,275
	15,408		Genius Electronic Optical Co Ltd		114
	113,353	e	Geox S.p.A.		413
	70,474		Gerry Weber International AG.		2,005
	328,149		Giant Manufacturing Co Ltd		1,208
	65,273	*,e	G-III Apparel Group Ltd		1,492
	125,415		Gildan Activewear, Inc		3,255
	173,062		Gitanjali Gems Ltd		1,227
	834,637		Glorious Sun Enterprises Ltd		267
	470,000		Goodbaby International Holding		111
	131,900		Grendene S.A.		544
	91,431	e	GUD Holdings Ltd		625
	1,562,000		Gunze Ltd		5,125
	8,300		HAJIME CONSTRUCTION Co Ltd		223
	16,140		Handsome Co Ltd		340
	604,691	*,e	Hanesbrands, Inc		15,123
	45,420		Hansae Co Ltd		231
	27,080		Hanssem Co Ltd		440
	558,629	e	Harman International Industries, Inc		15,966
	213,572	e	Hasbro, Inc		6,965
	1,873,500	*	Haseko Corp		1,178
	12,720		Hefei Meiling Co Ltd		6
	74,300		Heiwa Corp		1,315
	72,600		Helbor Empreendimentos S.A.		703
	140,627	*,e	Helen of Troy Ltd		3,533
	124,000	*	Hisense Kelon Electrical Holdings Co Ltd		26
	68,300		Hitachi Koki Co Ltd		513
	455,073	*,e	Hovnanian Enterprises, Inc (Class A)		555
	11,626		Hunter Douglas NV		467
	311,981		Husqvarna AB (B Shares)		1,261

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,066	e	IC Companys AS	$	270
	341,171	*,e	Iconix Brand Group, Inc		5,391
	47,239	e	Indesit Co S.p.A.		294
	274,300	*	Inpar S.A.		328
	738,000		International Taifeng Holdings Ltd		289
	355,000		Inventec Appliances Corp		210
	99,746	*,e	iRobot Corp		2,510
	173,340	e	Jakks Pacific, Inc		3,285
	68,000		Japan Vilene Co Ltd		319
	99,000		Japan Wool Textile Co Ltd		886
	6,257,928	a,e	Jarden Corp		176,848
	87,382		JBF Industries Ltd		221
	203,699	*	Jinshan Development & Construction Co Ltd		93
	111,904	e	JM AB		1,434
	77,900		Johnson Health Tech Co Ltd		142
	18,337	*,e	Johnson Outdoors, Inc		282
	423,157		Jones Apparel Group, Inc		3,897
	239,200	*	JVC KENWOOD Holdings, Inc		952
	357,149	e	KB Home		2,093
	55,793	*,e	Kenneth Cole Productions, Inc (Class A)		599
	9,000		Kinko Optical Co Ltd		12
	563,500		Konka Group Co Ltd		130
	106,845	*,e	K-Swiss, Inc (Class A)		454
	432,000		Kurabo Industries Ltd		859
	591,000		Kwong Fong Industries		189
	1,555		Kyungbang Ltd		126
	329,160		LAN FA Textile		124
	216,840		Lao Feng Xiang Co Ltd		493
	255,592	*,e	La-Z-Boy, Inc		1,894
	588,000		Le Saunda Holdings		217
	90,400		Lealea Enterprise Co Ltd		31
	194,484	*,e	Leapfrog Enterprises, Inc		655
	564,939	e	Leggett & Platt, Inc		11,180
	461,647	e	Lennar Corp (Class A)		6,251
	143,743		LG Electronics, Inc		8,208
	22,070		LG Fashion Corp		748
	1,097,500	e	Li Ning Co Ltd		1,123
	93,500		Li Peng Enterprise Co Ltd		31
	82,574	*,e	Libbey, Inc		870
	42,623	e	Lifetime Brands, Inc		411
	431,885	*,e	Liz Claiborne, Inc		2,159
	9,481		Loewe AG.		46
	553,600		Luthai Textile Co Ltd		442
	91,294	e	Luxottica Group S.p.A.		2,320
	257,709		LVMH Moet Hennessy Louis Vuitton S.A.		34,018
	76,059	*,e	M/I Homes, Inc		457
	95,146	*,e	Maidenform Brands, Inc		2,227
	7,310		Maisons France Confort		224
	343,000		Makalot Industrial Co Ltd		732
	537,600		Man Wah Holdings Ltd		209
	51,073		Marcolin S.p.A		296
	6,442	*,b	Mariella Burani S.p.A.		22

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,808	*,e	Marine Products Corp	$	164
	8,300	e	Mars Engineering Corp		139
	1,584,288	e	Matsushita Electric Industrial Co Ltd		15,313
	738,660	e	Mattel, Inc		19,123
	156,181	e	MDC Holdings, Inc		2,646
	804,000		Meike International Holdings Ltd		82
	294,000		Meiloon Industrial Co		125
	289,000		Merida Industry Co Ltd		633
	144,019	*,e	Meritage Homes Corp		2,180
	114,000		Merry Electronics Co Ltd		114
	7,278,000	*	Ming Fung Jewellery Group Ltd		450
	65,000		Mitsui Home Co Ltd		337
	126,000	e	Mizuno Corp		651
	161,329	*,e	Mohawk Industries, Inc		6,923
	71,274	e	Movado Group, Inc		868
	839,098		MRV Engenharia e Participacoes S.A.		4,298
	222,022		Namco Bandai Holdings, Inc		3,007
	62,918		New Wave Group AB (B Shares)		219
	2,622,402		Newell Rubbermaid, Inc		31,127
	59,055	e	Nexity		1,639
	21,300		Nidec Copal Corp		244
	635,250		Nien Hsing Textile Co Ltd		422
	1,324,910	e	Nike, Inc (Class B)		113,294
	425,135		Nikon Corp		10,029
	206,253	*,e	Nobia AB		710
	21,900	*,e	Noritsu Koki Co Ltd		109
	55,019	*,e	NVR, Inc		33,229
	18,840		Olympic Group Financial Investments		116
	596,531		Onward Kashiyama Co Ltd		4,736
	29,362		Oriental Weavers		148
	143,000		O-TA Precision Industry Co Ltd		94
	61,702	e	Oxford Industries, Inc		2,116
	845,134		Pace plc		1,245
	981,778		Pacific Textile Holdings Ltd		503
	215,000		PanaHome Corp		1,456
	1,260,696		Pandora AS		8,405
	4,249,364		PDG Realty S.A.		13,854
	402,000	*,m	Peace Mark Holdings Ltd		77
	1,569,000		Peak Sport Products Co Ltd		429
	14,000		Pegas Nonwovens S.A.		327
	66,167	*	Perry Ellis International, Inc		1,244
	692,365		Persimmon plc		4,872
	433,844	e	Phillips-Van Heusen Corp		25,267
	500,500	*	Pioneer Corp		2,097
	10,424,857		Playmates Holdings Ltd		2,977
	496,484		Polaris Industries, Inc		24,808
	71,428	*	Poltrona Frau S.p.A.		79
	198,620	e	Pool Corp		5,200
	1,263,000	e	Ports Design Ltd		1,930
	3,011,230		Pou Chen Corp		2,162
	260,783	*	Prada S.p.A		1,100
	1,750,000	e	Prime Success International Group Ltd		1,551

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,834,530	*,e	Pulte Homes, Inc	$	23,046
	640,089	*,e	Quiksilver, Inc		1,952
	199,861		Rajesh Exports Ltd		493
	162,809	e	Ralph Lauren Corp		21,116
	130,103		Raymond Ltd		884
	328,515	*	Redrow plc		574
	62,500		Restoque Comercio e Confeccoes de Roupas S.A.		693
	25,316	e	RG Barry Corp		268
	1,784,000	*	Richfield Group Holdings Ltd		77
	36,728	e	Rinnai Corp		3,066
	688,000	*	Rising Development Holdings		115
	30,800		Rodobens Negocios Imobiliarios S.A.		158
	4,575	*	Rodriguez Group		17
	44,400		Roland Corp		336
	232,820		Rossi Residencial S.A.		1,087
	518,000		Royale Furniture Holdings Ltd		101
	547,000		Ruentex Industries Ltd		870
	3,098	*,e	Russ Berrie & Co, Inc		8
	180,895	e	Ryland Group, Inc		1,927
	493,260		S Kumars Nationwide Ltd		419
	6,482		Sabaf S.p.A.		108
	42,644	*	Safilo Group S.p.A.		332
	6,309		Sam Kwang Glass Ind Co Ltd		370
	269,000		Sampo Corp		64
	1,227,000		Samson Holding Ltd		120
	4,460,700	*	Samsonite International		6,301
	36,276		Sangetsu Co Ltd		964
	110,027	e	Sankyo Co Ltd		5,954
	144,000		Sanyo Electric Taiwan Co Ltd		134
	125,000	e	Sanyo Shokai Ltd		294
	322,007	*,e	Sealy Corp		477
	35,411		SEB S.A.		2,851
	764,738	e	Sega Sammy Holdings, Inc		17,841
	132,000		Seiko Holdings Corp		341
	1,515,630		Seiren Co Ltd		10,637
	2,488,054		Sekisui Chemical Co Ltd		20,918
	1,829,971		Sekisui House Ltd		17,147
	192,500	*	Shanghai Haixin Group Co		92
	1,802,260	*,e	Sharp Corp		15,141
	1,259,200		Shenzhou International Group Holdings Ltd		1,360
	55,304		Shimano, Inc		2,927
	221,000		Shinkong Textile Co Ltd		252
	167,191	*,e	Skechers U.S.A., Inc (Class A)		2,346
	35,800	*	Skullcandy, Inc		506
	33,685		Skyline Corp		322
	5,706,217		Skyworth Digital Holdings Ltd		1,982
	250,747	*,e	Smith & Wesson Holding Corp		632
	763,088		Socovesa S.A.		245
	1,225,584	*	Sony Corp		23,460
	29,424		SRF Ltd		186
	27,800		SRI Sports Ltd		310
	403,799	*,e	Standard-Pacific Corp		997

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	210,000		Star Comgistic Capital Co Ltd	$	161
	1,689,786	*,e	Steinhoff International Holdings Ltd		4,680
	35,187	*,e	Steinway Musical Instruments, Inc		759
	882,000		Stella International Holdings Ltd		1,971
	219,594	*,e	Steven Madden Ltd		6,610
	111,277	e	Sturm Ruger & Co, Inc		2,891
	319,854	e	Sumitomo Forestry Co Ltd		2,779
	40,983	*,e	Summer Infant, Inc		270
	282,000		Sunny Optical Technology Group Co Ltd		50
	65,206		Swatch Group AG.		21,454
	252,146		Swatch Group AG. Reg		15,028
	97,000		Tainan Enterprises Co Ltd		109
	2,989,060		Tainan Spinning Co Ltd		1,308
	180,000		Taiwan Paiho Ltd		122
	20,400		Taiwan Sakura Corp		10
	124,893		Takamatsu Corp		2,229
	21,400		Tamron Co Ltd		672
	2,017,138	*	Tatung Co Ltd		742
	8,425,699	*	Taylor Woodrow plc		4,557
	792,000		TCL Multimedia Technology Holdings Ltd		213
	1,509,117	e	Techtronic Industries Co		1,015
	174,100		Tecnisa S.A.		854
	684,117	*,e	Tempur-Pedic International, Inc		35,990
	59,728		Ten Cate NV		1,836
	714,000		Texhong Textile Group Ltd		154
	1,714,000	e	Texwinca Holdings Ltd		1,752
	2,040,000	*	Theme International Holdings Ltd		66
	106,700	*	Thomson		315
	9	*,m	Thomson (Non-Reg)		0	^
	237,800		Titan Industries Ltd		1,010
	11,213		Tod’s S.p.A.		946
	6,640	e	Token Corp		264
	1,305,235	*,e	Toll Brothers, Inc		18,835
	133,941	*,e	TomTom NV		472
	86,168		Tomy Co Ltd		674
	16,400		Touei Housing Corp		169
	1,127,676		Toyobo Co Ltd		1,650
	30,017		Trigano S.A.		550
	2,016,000		Trinity Ltd		1,592
	27,700		Trisul S.A.		38
	162,023	*	True Religion Apparel, Inc		4,368
	1,622,200	*	Tsann Kuen China Enterprise Co Ltd		252
	138,400	*	TSI HOLDINGS CO Ltd		804
	17,056		TTK Prestige Ltd		895
	1,815,969	e	Tupperware Corp		97,589
	814,116		Turk Sise ve Cam Fabrikalari AS		1,553
	90,362	*,e	Under Armour, Inc (Class A)		6,001
	85,300	*,e	Unifi, Inc		697
	624,000	*,e	Unitika Ltd		368
	64,274	*	Universal Electronics, Inc		1,053
	805,915	*,e	Urbi Desarrollos Urbanos S.A. de C.V		1,098
	295	*	Vardhman Special Steels Ltd		0	^

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,476		Vardhman Textiles Ltd	$	6
	79,458	*,e	Vera Bradley, Inc		2,864
	201,118		Vestel Beyaz Esya Sanayi ve Ticaret AS.		228
	179,066	*	Vestel Elektronik Sanayi		206
	336,710	e	VF Corp		40,918
	996,299	e	Victory City International Hldgs Ltd		73
	64,222		Videocon Industries Ltd		219
	51,841		VIP Industries Ltd		958
	148,627		Wacoal Holdings Corp		1,904
	234,620	*,e	Warnaco Group, Inc		10,814
	374,000	e	Weiqiao Textile Co		179
	2,516,000		Welling Holding Ltd		361
	32,167	e	Weyco Group, Inc		717
	597,267	e	Whirlpool Corp		29,809
	28,254	*	Whirlpool of India Ltd		126
	672,000		Win Hanverky Holdings Ltd		50
	218,882	e	Wolverine World Wide, Inc		7,278
	160,780	*	Woongjin Chemical Co Ltd		120
	74,150		Woongjin Coway Co Ltd		2,387
	105,860		Wuxi Little Swan Co Ltd		126
	2,052,000		XTEP International Holdings		791
	108,150		Yamaha Corp		1,170
	22,000		Young Optics, Inc		61
	50,910		Youngone Corp		840
	9,030		Youngone Holdings Co Ltd		303
	587,114		Yue Yuen Industrial Holdings		1,518
	80,986	*,e	Zagg, Inc		803
	19,570		Zeng Hsing Industrial Co Ltd		53
	10,000		Zhonglu Co Ltd		7
	22,260		Zig Sheng Industrial Co Ltd		10
			TOTAL CONSUMER DURABLES & APPAREL		1,662,687
CONSUMER SERVICES - 1.9%
	202,053	*	888 Holdings plc		99
	664,541		Accor S.A.		17,695
	1,810		Accordia Golf Co Ltd		1,408
	114,487	*	AFC Enterprises		1,354
	996,000	e	Ajisen China Holdings Ltd		1,139
	630,400		Alsea SAB de C.V.		460
	255,000		Ambassador Hotel		291
	85,401	e	Ambassadors Group, Inc		489
	93,974	*,e	American Public Education, Inc		3,195
	213,053	e	Ameristar Casinos, Inc		3,420
	4,791	*	AmRest Holdings SE		97
	168,800		Anhanguera Educacional Participacoes S.A.		2,173
	763,022	*,e	Apollo Group, Inc (Class A)		30,223
	52,569	*,e	Archipelago Learning, Inc		442
	18,013	e	Arcos Dorados Holdings, Inc		418
	553,748	e	Aristocrat Leisure Ltd		1,108
	73,243	*,e	Ascent Media Corp (Series A)		2,880
	58,300	*	Atom Corp		203
	7,422		Autogrill S.p.A.		75

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	129,002	*,e	Bally Technologies, Inc	$	3,480
	430,611		Banyan Tree Holdings Ltd		211
	68,329		Benesse Corp		3,027
	30,694	*,e	Benihana, Inc		264
	1,424,272		Berjaya Sports Toto BHD		1,888
	106,365		BETFAIR Group Ltd		1,219
	84,471		Betsson AB (Series B)		1,580
	98,334	*,e	BJ’s Restaurants, Inc		4,338
	149,156	e	Bob Evans Farms, Inc		4,254
	365,665	*,e	Boyd Gaming Corp		1,792
	85,536	*,e	Bravo Brio Restaurant Group, Inc		1,423
	69,078	*,e	Bridgepoint Education, Inc		1,205
	907,511	e	Brinker International, Inc		18,985
	75,300	*,e	Buffalo Wild Wings, Inc		4,503
	436,000	e	Cafe de Coral Holdings Ltd		1,034
	71,927	*,e	Cambium Learning Group, Inc		215
	106,668	*,e	Capella Education Co		3,027
	242,796	*,e	Career Education Corp		3,168
	64,509	*,e	Caribou Coffee Co, Inc		762
	1,757,368	e	Carnival Corp		53,248
	58,209		Carnival plc		1,814
	53,056	*,e	Carrols Restaurant Group, Inc		472
	102,494	e	CBRL Group, Inc		4,108
	113,668	e	CEC Entertainment, Inc		3,236
	1,850,000		Central Plaza Hotel PCL		475
	3,438,040		Century City International		196
	310,852	*,e	Cheesecake Factory		7,663
	5,870,000	*	China Energy Development Holdings Ltd		82
	153,395,000	*	China LotSynergy Holdings Ltd		1,952
	4,480,000	e	China Travel International Inv HK		585
	150,720	*,e	Chipotle Mexican Grill, Inc (Class A)		45,661
	64,277	e	Choice Hotels International, Inc		1,910
	56,027	e	Churchill Downs, Inc		2,187
	11,133		Cie des Alpes		277
	66,425		City Lodge Hotels Ltd		514
	30,919	*,e	Club Mediterranee S.A.		532
	36,394	*	Codere S.A.		346
	169,602	*,e	Coinstar, Inc		6,784
	75,000		Colowide Co Ltd		490
	772,551		Compass Group plc		6,233
	120,292		Consumers’ Waterheater Income Fund		851
	329,981	*,e	Corinthian Colleges, Inc		515
	55,378		Cox & Kings India Ltd		240
	2,888		Credu Corp		98
	197,907		Crown Ltd		1,508
	9,000		Daisyo Corp		110
	1,687,478	e	Darden Restaurants, Inc		72,140
	560,675	*,e	Denny’s Corp		1,867
	187,871	e	DeVry, Inc		6,944
	68,151		Dignity plc		900
	63,592	*,e	DineEquity, Inc		2,448
	156,793	e	Domino’s Pizza UK & IRL plc		1,081

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	335,577	*,e	Domino’s Pizza, Inc	$	9,144
	42,100		Doutor Nichires Holdings Co Ltd		534
	36,000	*	Dunkin Brands Group, Inc		997
	130,953	*	Echo Entertainment Group Ltd		463
	67,647	*,e	Education Management Corp		1,004
	463,734		Educomp Solutions Ltd		2,241
	683,877	*	Egyptian for Tourism Resorts		110
	56,227		EIH Ltd		101
	23,174	e	Einstein Noah Restaurant Group, Inc		297
	1,459,631	*	Enjoy S.A.		272
	700,399	*	Enterprise Inns plc		361
	84,800		Estacio Participacoes S.A.		744
	31,247	*,e	Euro Disney SCA		194
	69,115		Everonn Education Ltd		526
	35,055		Famous Brands Ltd		184
	331,560		First Hotel		228
	132,855	e	Flight Centre Ltd		2,156
	43,337		Formosa International Hotels Corp		590
	48,000		Fortuna Entertainment Group NV		251
	80,000	e	Fuji Kyuko Co Ltd		515
	69,000		Fujita Kanko, Inc		250
	2,599,073	*,e,f	Galaxy Entertainment Group Ltd (purchased 05/26/11, cost $4,871)		3,776
	141,826	*,e	Gaylord Entertainment Co		2,743
	2,929,615		Genting BHD		8,285
	3,621,000	*	Genting Hong Kong Ltd		1,066
	3,686,028	*,e	Genting International plc		4,280
	39,944		Gold Reef Resorts Ltd		84
	3,794,000		Golden Resorts Group Ltd		378
	123,230	*,e	Grand Canyon Education, Inc		1,990
	16,230		Grand Korea Leisure Co Ltd		283
	90,015	*	Great Canadian Gaming Corp		658
	524,923		Greene King plc		3,545
	663,000		GuocoLeisure Ltd		298
	1,388,279	e	H&R Block, Inc		18,478
	9,577		Hana Tour Service, Inc		301
	251,414		Hillenbrand, Inc		4,626
	33,800		HIS Co Ltd		995
	1,019,757		Hongkong & Shanghai Hotels		1,391
	12,227		Hotel Leela Venture Ltd		9
	857,000		Hotel Properties Ltd		1,327
	32,820		Hotel Shilla Co Ltd		971
	254,050	*	Huangshan Tourism Development Co Ltd		327
	328,063	*	Hurtigruten Group ASA		177
	124,383	*,e	Hyatt Hotels Corp		3,902
	6,500		Ichibanya Co Ltd		204
	167,798		Indian Hotels Co Ltd		243
	515,260		Intercontinental Hotels Group plc		8,355
	525,657	e	International Game Technology		7,638
	116,509	e	International Speedway Corp (Class A)		2,661
	171,948	*,e	Interval Leisure Group, Inc		2,290
	154,029		Intralot S.A.-Integrated Lottery Systems & Services		177

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	253,408		Invocare Ltd	$	1,679
	114,011	*,e	Isle of Capri Casinos, Inc		552
	171,597	*,e	ITT Educational Services, Inc		9,881
	197,129	*,e	Jack in the Box, Inc		3,927
	214,753	*,e	Jamba, Inc		277
	705,000	*	Janfusun Fancyworld Corp		153
	442,800		Jollibee Foods Corp		851
	65,031	*	Jubilant Foodworks Ltd		1,048
	101,754	*,e	K12, Inc		2,591
	172,550		Kangwon Land, Inc		3,949
	15,650	e	Kappa Create Co Ltd		348
	79,360	*,m	Kardan Yazamut		3
	142,900		KFC Holdings Malaysia BHD		147
	23,300	e	Kisoji Co Ltd		440
	805,000		Kosmopolito Hotels International Ltd		102
	288,919	*,e	Krispy Kreme Doughnuts, Inc		1,970
	77,100	*	Kroton Educacional S.A.		736
	4,996		Kuoni Reisen Holding		1,497
	12,400		Kura Corp		164
	20,900	e	Kyoritsu Maintenance Co Ltd		348
	2,109,692	e	Ladbrokes plc		3,900
	294,300		Landmarks BHD		88
	3,148,785	*,e	Las Vegas Sands Corp		120,723
	126,000	*	Leofoo Development Co		82
	169,992	*,e	Life Time Fitness, Inc		6,264
	136,067	e	Lincoln Educational Services Corp		1,101
	653,000		Little Sheep Group Ltd		469
	10,220	*	Lotte Tour Development Co Ltd		141
	74,038	e	Lottomatica S.p.A.		1,157
	43,561	*,e	Luby’s, Inc		179
	69,963	e	Mac-Gray Corp		903
	486,617		Macquarie Leisure Trust Group		507
	109,352	e	Marcus Corp		1,088
	848,528	e	Marriott International, Inc (Class A)		23,114
	1,463,166	e	Marston’s plc		2,110
	172,600		Masterskill Education Group BHD		59
	15,300		Matsuya Foods Co Ltd		295
	119,366		Matthews International Corp (Class A)		3,672
	75,531	*,e	McCormick & Schmick’s Seafood Restaurants, Inc		523
	3,571,536	e	McDonald’s Corp		313,651
	44,457	e	McDonald’s Holdings Co Japan Ltd		1,186
	7,858		MegaStudy Co Ltd		788
	1,448,213	e	Melco International Development		948
	528,478	*,e	Melco PBL Entertainment Macau Ltd (ADR)		4,392
	1,227,752	*	MGM China Holdings Ltd		1,627
	2,232,484	*,e	MGM Mirage		20,740
	214,220		Millennium & Copthorne Hotels plc		1,333
	3,045,800		Minor International PCL (Foreign)		1,003
	341,881	*	Mitchells & Butlers plc		1,246
	3,421		Modetour Network, Inc		77
	51,545	*,e	Monarch Casino & Resort, Inc		504
	97,413	*,e	Morgans Hotel Group Co		584

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,000		MOS Food Services, Inc	$	654
	172,291	*,e	Multimedia Games, Inc		696
	1,226,000		NagaCorp Ltd		262
	32,007		National American University Holdings, Inc		229
	213,261		Navitas Ltd		785
	105,012	*,e	NH Hoteles S.A.		434
	88,119	*,e	O’Charleys, Inc		523
	14,300		Ohsho Food Service Corp		347
	262,750		OPAP S.A.		2,650
	17,637		Orascom Development Holding AG.		334
	14,894	*	Orbis S.A.		165
	40,777	e	Oriental Land Co Ltd		4,351
	5,119,613	*,a,e	Orient-Express Hotels Ltd (Class A)		35,377
	395,000		Overseas Union Enterprise Ltd		644
	395		Pacific Golf Group International Holdings KK		201
	105,580		Paddy Power plc		5,436
	882,436		Paliburg Holdings Ltd		279
	173,887	*,e	Panera Bread Co (Class A)		18,074
	133,829	*	Papa John’s International, Inc		4,068
	10,603		Paradise Co Ltd		74
	5,585,675		PartyGaming plc		10,668
	51,605	*,e	Peet’s Coffee & Tea, Inc		2,871
	803,204	*,e	Penn National Gaming, Inc		26,739
	138,295	e	PF Chang’s China Bistro, Inc		3,767
	6,428		Pierre & Vacances		256
	262,383	*,e	Pinnacle Entertainment, Inc		2,382
	60,100		Plenus Co Ltd		976
	152,263		Prommethean World plc		116
	235,500		QSR Brands BHD		405
	2,051,666	e	Raffles Education Corp Ltd		696
	58,266	*,e	Red Lion Hotels Corp		391
	62,718	*,e	Red Robin Gourmet Burgers, Inc		1,511
	737,000		Regal Hotels International Holdings Ltd		204
	291,765	e	Regis Corp		4,111
	4,592,100		Resorts World BHD		4,997
	39,400	e	Resorttrust, Inc		668
	275,981		Restaurant Group plc		1,178
	19,745,000		Rexcapital Financial Holdings Ltd		1,174
	155,446	*	Rezidor Hotel Group AB		451
	19,200		Ringer Hut Co Ltd		273
	176,400	e	Round One Corp		1,276
	264,350	e	Royal Caribbean Cruises Ltd		5,721
	33,700		Royal Holdings Co Ltd		388
	317,440	*,e	Ruby Tuesday, Inc		2,273
	180,018	*,e	Ruth’s Chris Steak House, Inc		772
	40,000		Saizeriya Co Ltd		726
	26,295,761	*	Sands China Ltd		61,524
	265,803	*,e	Scientific Games Corp (Class A)		1,893
	927,678	e	Service Corp International		8,498
	1,418,000		Shanghai Jin Jiang International Hotels Group Co Ltd		170
	224,984		Shanghai Jinjiang International Hotels Development Co Ltd		289
	107,249		Shanghai Jinjiang International Travel Co Ltd		120

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,082,929		Shangri-La Asia Ltd	$	2,070
	2,859		Shinsegae Food Co Ltd		187
	223,263	*,e	Shuffle Master, Inc		1,878
	872,000		SITC International Co Ltd		186
	204,822	e	Six Flags Entertainment Corp		5,678
	5,511,205		SJM Holdings Ltd		9,736
	28,447		SkiStar AB (Series B)		383
	191,246	e	Sky City Entertainment Group Ltd		484
	2,680,000	*	SMI Corp Ltd		89
	54,499	*	Snai S.p.A.		146
	69,092		Sodexho Alliance S.A.		4,549
	77,742	e	Sol Melia S.A.		513
	249,365	*	Sonic Corp		1,763
	402,123	e	Sotheby’s (Class A)		11,087
	52,454	e	Speedway Motorsports, Inc		634
	889,542	*	Spirit Pub Co plc		492
	657,911		Sportingbet plc		473
	6,400		St Marc Holdings Co Ltd		256
	674,000		Stamford Land Corp Ltd		242
	370		Starbucks Coffee Japan Ltd		217
	3,574,450	e	Starbucks Corp		133,290
	737,320	e	Starwood Hotels & Resorts Worldwide, Inc		28,623
	5,527	*,e	Steak N Shake Co		1,638
	61,402	*,e	Steiner Leisure Ltd		2,503
	316,820	e	Stewart Enterprises, Inc (Class A)		1,885
	51,304	e	Strayer Education, Inc		3,933
	110,758		Sun International Ltd		1,110
	135,764		Tabcorp Holdings Ltd		335
	140,252		Tattersall’s Ltd		300
	249,622	e	Texas Roadhouse, Inc (Class A)		3,300
	1,191,658	e	Thomas Cook Group plc		735
	306,195		Tim Hortons, Inc (Toronto)		14,233
	13,718	*	Tipp24 SE		600
	239,000		Tokyo Dome Corp		547
	210,000		Tokyotokeiba Co Ltd		295
	6,000		Toridoll.corp		55
	94,374	*,e	Town Sports International Holdings, Inc		685
	7,983	*	TUI AG.		41
	91,013		TUI Travel plc		210
	34,124	*	Unibet Group plc (ADR)		642
	84,813	e	Universal Technical Institute, Inc		1,153
	82,735		UP, Inc		697
	161,948	e	Vail Resorts, Inc		6,120
	28,900	e	WATAMI Co Ltd		711
	227,613	e	Weight Watchers International, Inc		13,258
	551,685	e	Wendy’s		2,532
	155,048	e	Wetherspoon (J.D.) plc		937
	18,420		Whitbread plc		452
	1,585,625	e	William Hill plc		5,562
	102,039	*,e	WMS Industries, Inc		1,795
	1,353,534	e	Wyndham Worldwide Corp		38,589
	3,664,418		Wynn Macau Ltd		8,666

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	228,129		Wynn Resorts Ltd	$	26,253
	335,000		YBM Sisa.com, Inc		1,902
	50,000		Yomiuri Land Co Ltd		175
	682		Yoshinoya D&C Co Ltd		888
	2,862,020		Yum! Brands, Inc		141,354
	6,694	*	Zee Learn Ltd		3
	168,700	e	Zensho Co Ltd		2,382
			TOTAL CONSUMER SERVICES		1,711,267
DIVERSIFIED FINANCIALS - 4.9%
	750,085	e	3i Group plc		2,181
	33,714		ABC Arbitrage		281
	1,653,394		Aberdeen Asset Management plc		4,427
	32,573		Ackermans & Van Haaren		2,283
	87,807	*,e	Acom Co Ltd		1,685
	143,106		Administradora de Fondos de Pensiones Provida S.A.		548
	391,323	e	Advance America Cash Advance Centers, Inc		2,880
	804,871		Aeon Credit Service Co Ltd		12,382
	778,303		Aeon Thana Sinsap Thailand PCL		751
	950,000		Aeon Thana Sinsap Thailand Pcl (ADR)		917
	340,011	*	Affiliated Managers Group, Inc		26,538
	1,145,513		African Bank Investments Ltd		4,660
	144,343		AGF Management Ltd		2,088
	249,400	*,e	Aiful Corp		355
	71,091	e	Aker ASA (A Shares)		1,430
	70,614	*	Altamir Amboise		616
	1,879,739	*	American Capital Ltd		12,820
	3,074,656	e	American Express Co		138,053
	437,294	e	Ameriprise Financial, Inc		17,212
	2,606,405		AMMB Holdings BHD		4,696
	934,771	e	Apollo Investment Corp		7,029
	425,891	e	Apollo Management LP		4,361
	891,520	f,g	ARA Asset Management Ltd (purchased 09/10/09, cost $603)		800
	581,370	e	Ares Capital Corp		8,005
	225,496	e	Artio Global Investors, Inc		1,795
	757,937		Ashmore Group plc		3,808
	577,333		Australian Stock Exchange Ltd		16,769
	22,472		Avanza AB		534
	343,247		Ayala Corp		2,265
	2,215	*	Ayala Corp Preferred		0	^
	220,826	e	Azimut Holding S.p.A.		1,527
	1,632		Bajaj Auto Finance Ltd		21
	15,646		Bajaj Auto Ltd		230
	150,556		Banca Finnat Euramerica S.p.A.		73
	142,178		Banca Generali S.p.A		1,345
	17,510		Banca IFIS S.p.A.		100
	319,925	e	Banca Profilo S.p.A.		125
	36,259,320		Bank of America Corp		221,908
	3,937,125	e	Bank of New York Mellon Corp		73,191
	45,128		Bank Sarasin & Compagnie AG.		1,380
	389,833	e	BGC Partners, Inc (Class A)		2,351

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	90,361		BinckBank NV	$	993
	299,276	e	BlackRock Kelso Capital Corp		2,185
	760,034		BlackRock, Inc		112,492
	4,271,485		Blackstone Group LP		51,172
	4,514,603		BM&FBOVESPA S.A.		21,105
	26,063,128		Bolsa de Valores de Colombia		459
	30,597		Bolsa de Valores de Lima S.A.		110
	612,700		Bolsa Mexicana de Valores S.A. de C.V.		846
	109,526	e	Bolsas y Mercados Espanoles		2,934
	31,677	*	Boursorama		271
	818,991		Brait S.A.		1,779
	331,884		Brewin Dolphin Holdings plc		613
	431,671	*,e	Broadpoint Securities Group, Inc		514
	126,164		BT Investment Management Ltd		240
	85,021		Bure Equity AB		232
	373,600		Bursa Malaysia BHD		711
	131,173		Calamos Asset Management, Inc (Class A)		1,313
	3,489	e	California First National Bancorp		53
	113,982		Canaccord Capital, Inc		1,039
	2,294,006		Capital One Financial Corp		90,912
	1,713,521		Capital Securities Corp		564
	16,210	e	Capital Southwest Corp		1,200
	149,667	e	Cash America International, Inc		7,657
	149,705	e	CBOE Holdings, Inc		3,663
	65,701		Century Leasing System, Inc		1,302
	264,944		CETIP S.A.-Balcao Organizado de Ativos e Derivativos		3,311
	1,285,338	e	Challenger Financial Services Group Ltd		5,213
	2,280,958	e	Charles Schwab Corp		25,706
	1,353,000		China Bills Finance Corp		473
	1,544,000	e	China Everbright Ltd		1,656
	140,000		China Merchants China Direct Investments Ltd		171
	3,236		Cholamandalam DBS Finance Ltd		10
	219,540		CI Financial Corp		4,345
	425,039	*	Citadel Capital Corp		252
	16,538,762		Citigroup, Inc		423,724
	194,520		Close Brothers Group plc		1,994
	470,845	e	CME Group, Inc		116,016
	72,396	e	Cohen & Steers, Inc		2,081
	560,726		Collins Stewart plc		553
	2,993		Compagnie Financiere Tradition S.A.		260
	1,753,400		Compartamos SAB de C.V.		2,430
	173,283		Compass Diversified Trust		2,111
	961,276	*	Concord Securities Corp		214
	646,786		Coronation Fund Managers Ltd		1,597
	23,722		Corp Financiera Alba		1,005
	110,722		Corp Financiera Colombiana S.A.		1,979
	2,287	*,m	Corp Financiera Colombiana S.A. (No-Div)		42
	313,704		Count Financial Ltd		413
	520,855	*,e	Cowen Group, Inc		1,412
	27,944	*	Credit Acceptance Corp		1,798
	1,628,000		Credit China Holdings Ltd		111
	86,568		Credit Saison Co Ltd		1,669

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,714,912		Credit Suisse Group	$	44,864
	27,398		DAB Bank AG.		113
	227,500		Daewoo Securities Co Ltd		1,970
	64,400		Daishin Securities Co Ltd		547
	48,250		Daishin Securities Co Ltd PF		267
	1,042,235	*,e	Daiwa Securities Group, Inc		3,892
	81,916		Davis & Henderson Income Fund		1,302
	245,888	*,e	DeA Capital S.p.A.		506
	21,586	*,e	Deerfield Capital Corp		93
	1,169,081		Deutsche Bank AG.		40,510
	15,825	e	Deutsche Beteiligungs AG.		315
	72,184	e	Deutsche Boerse AG.		3,639
	125,600	*	Deutsche Boerse AG. - New		6,352
	12,597	e	Diamond Hill Investment Group, Inc		874
	13,958		Dinamia		86
	6,914,261		Discover Financial Services		158,614
	175,111	*,e	Dollar Financial Corp		3,826
	439,385	*	Dom Maklerski IDMSA		187
	53,250		Dongbu Securities Co Ltd		172
	121,156	e	Duff & Phelps Corp		1,292
	108,720	*	Dundee Corp		2,355
	2,234,920	*,e	E*Trade Financial Corp		20,360
	41,398		East Capital Explorer AB		316
	236,310	e	Eaton Vance Corp		5,263
	759,500		ECM Libra Financial Group BHD		172
	84,732		Edelweiss Capital Ltd		48
	72,240	e	EFG International		534
	795,687		Egypt Kuwait Holding Co		806
	418,805		Egyptian Financial Group-Hermes Holding		1,168
	21,043	*	Elron Electronic Industries		77
	68,771	*,e	Encore Capital Group, Inc		1,503
	60,003	e	Epoch Holding Corp		814
	78,275	*	Eugene Investment & Securities Co Ltd		210
	23,570		Eurazeo		990
	126,100	e	Evercore Partners, Inc (Class A)		2,875
	321,315		Evolution Group plc		401
	182,051		Exor S.p.A.		3,563
	247,373	*,e	Ezcorp, Inc (Class A)		7,060
	639,466		F&C Asset Management plc		648
	218,106	*,e	FBR Capital Markets Corp		519
	161,440	e	Federated Investors, Inc (Class B)		2,830
	12,000	*	Fidus Investment Corp		151
	268,999	e	Fifth Street Finance Corp		2,507
	5,803	e	Fimalac		213
	160,913	*,e	Financial Engines, Inc		2,914
	63,400		Financiera Independencia SAB de C.V.		33
	162,073	*,e	First Cash Financial Services, Inc		6,799
	353,815	*,e	First Marblehead Corp		361
	2,851,501		First Pacific Co		2,517
	1,328,000		First Shanghai Investments Ltd		95
	4,049,083		FirstRand Ltd		9,788
	391,451		FlexiGroup Ltd		824

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	889,376	e	Franklin Resources, Inc	$	85,059
	32,896	e	Friedman Billings Ramsey Group, Inc (Class A)		791
	11,440,029		Fubon Financial Holding Co Ltd		11,813
	11,254,199		Fuhwa Financial Holdings Co Ltd		5,641
	59,300		Fuyo General Lease Co Ltd		2,184
	67,084	e	FXCM, Inc		941
	19,510	*,e	Gain Capital Holdings, Inc		123
	28,216	e	GAMCO Investors, Inc (Class A)		1,111
	117	*	GCA Savvian Group Corp		142
	4,412,000		Get Nice Holdings Ltd		193
	331,037	e	GFI Group, Inc		1,331
	21,468		Gimv NV		1,049
	99,960	e	Gladstone Capital Corp		686
	140,037	e	Gladstone Investment Corp		952
	28,148		Gluskin Sheff + Associates, Inc		446
	100,966		GMP Capital, Inc		700
	900,000		Goldbond Group Holdings Ltd		30
	2,373,702		Goldman Sachs Group, Inc		224,433
	34,716	e	Golub Capital BDC, Inc		516
	17,542		Gottex Fund Management Holdings Ltd		67
	71,588	*,e	Green Dot Corp		2,242
	53,501	e	Greenhill & Co, Inc		1,530
	10,830		Grenkeleasing AG.		534
	101,683		Groupe Bruxelles Lambert S.A.		7,142
	883	*	Groupe Bruxelles Lambert S.A. - STR VVPR		0	^
	10,117,111		Guinness Peat Group plc		4,511
	1,139,000		Guotai Junan International Hol		229
	1,408,744		Haci Omer Sabanci Holding AS		4,902
	84,290		Hanwha Securities Co		349
	293,213	e	Hargreaves Lansdown plc		2,047
	133,028	*,e	Harris & Harris Group, Inc		472
	78,863		Hellenic Exchanges S.A.		307
	1,642,574		Henderson Group plc		2,611
	173,123	e	Hercules Technology Growth Capital, Inc		1,475
	482,450	*	HFF, Inc (Class A)		4,217
	202,800		Hitachi Capital Corp		2,528
	8,930	*	HMC Investment Securities Co Ltd		97
	831,882	e	Hong Kong Exchanges and Clearing Ltd		12,067
	689,000	*	Horizon Securities Co Ltd		116
	330,947		Hyundai Securities Co		2,604
	35,900		IBJ Leasing Co Ltd		866
	6,345,138	e	ICAP plc		40,445
	216,800	e	Ichiyoshi Securities Co Ltd		1,290
	1,412,118		IFCI Ltd		878
	635,987		IG Group Holdings plc		4,407
	144,416		IGM Financial, Inc		6,138
	111,795	*,e	Imperial Holdings, Inc		268
	167,436		India Infoline Ltd		238
	311,346		Indiabulls Financial Services Ltd		996
	18,736		Indiabulls Securities Ltd		3
	407,208		Industrivarden AB		4,264
	1,389,561		Infrastructure Development Finance Co Ltd		3,121

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	14,175,669	*	ING Groep NV	$	99,993
	128,200	e	Interactive Brokers Group, Inc (Class A)		1,786
	173,061		Interbolsa S.A.		204
	969,968	*,e	IntercontinentalExchange, Inc		114,708
	7,769	f	Intergroup Financial Services Corp (purchased 08/18/10, cost $196)		181
	904,569		Intermediate Capital Group plc		3,008
	88,113	*,e	International Assets Holding Corp		1,829
	345,122	e	International Personal Finance plc		1,191
	190,030	*	Internet Capital Group, Inc		1,750
	1,427,386	e	Invesco Ltd		22,139
	317,294		Investec Ltd		1,730
	895,054	e	Investec plc		4,843
	207,424	*,e	Investment Technology Group, Inc		2,031
	392,359	e	Investor AB (B Shares)		6,905
	963,570	e	IOOF Holdings Ltd		4,976
	11,971	*	Is Finansal Kiralama AS.		7
	150,823		Is Yatirim Menkul Degerler AS		129
	4,167,400		iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		5,544
	75,000	e	iShares MSCI Canada Index Fund		1,912
	1,160,000		iShares MSCI EAFE Index Fund		55,390
	460,000	e	iShares MSCI Emerging Markets		16,132
	200,000	e	iShares Russell 2000 Index Fund		12,850
	179,000		Jaccs Co Ltd		583
	165,917	*	Jafco Co Ltd		3,085
	5,119,564	e	Janus Capital Group, Inc		30,717
	8,823,000	*,a,e	Japan Asia Investment Co Ltd		7,029
	1,560,300	e	Japan Securities Finance Co Ltd		7,922
	239,081	e	Jefferies Group, Inc		2,967
	7,320,000	*	Jia Sheng Holdings Ltd		315
	2,071,273		Jih Sun Financial Holdings Co Ltd		581
	112,071		JMP Group, Inc		651
	18,526,101	e	JPMorgan Chase & Co		558,007
	190,218		JSE Ltd		1,511
	453,827		Julius Baer Group Ltd		15,166
	693,533		Julius Baer Holding AG.		8,681
	348,462		Jupiter Investment Management Group Ltd		1,064
	846,000	e	K1 Ventures Ltd		70
	113,800	e	kabu.com Securities Co Ltd		315
	9,920,000	*	Kai Yuan Holdings Ltd		203
	79,360	*	Kardan NV		202
	15,075		KAS Bank NV		171
	43,613	*	KBC Ancora		358
	148,495	e	KBW, Inc		2,048
	4,147,526		KGI Securities Co Ltd		1,474
	195,450		Kim Eng Securities Thailand PCL		91
	676,595		Kinnevik Investment AB (Series B)		12,519
	28,724		KIWOOM Securities Co Ltd		1,368
	482,617	*,e	Knight Capital Group, Inc (Class A)		5,869
	80,636	e	Kohlberg Capital Corp		472
	530		Korea Development Financing Corp		9

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	59,980		Korea Investment Holdings Co Ltd	$	1,720
	415,961		Kotak Mahindra Bank Ltd		3,882
	82,410	*	KTB Securities Co Ltd		175
	47,580		Kyobo Securities Co		180
	438,539	*,e	Ladenburg Thalmann Financial Services, Inc		680
	194,503		Lazard Ltd (Class A)		4,104
	262,002	e	Legg Mason, Inc		6,736
	558,872	e	Leucadia National Corp		12,675
	130,845	e	London Stock Exchange Group plc		1,646
	114,883	*,e	LPL Investment Holdings, Inc		2,920
	67,734		Lundbergs AB (B Shares)		1,901
	436,293	*	Macquarie Group Ltd		9,435
	93,416		Main Street Capital Corp		1,659
	9,779,604	e	Man Group plc		25,298
	341,763		Manappuram General Finance & Leasing Ltd		363
	863,086		Marfin Investment Group S.A		271
	158,619		MarketAxess Holdings, Inc		4,127
	35,312	*,e	Marlin Business Services Corp		374
	93,300	e	Marusan Securities Co Ltd		384
	1,973,000		Masterlink Securities Corp		654
	1,100,900	e	Matsui Securities Co Ltd		4,964
	312,956	e	MCG Capital Corp		1,239
	142,158	*	MCI Management S.A.		161
	60,591	e	Medallion Financial Corp		563
	506,599	e	Mediobanca S.p.A.		3,977
	46,965	e	Medley Capital Corp		473
	228,474	*	Meritz finance Holdings Co Ltd		424
	435,970		Meritz Securities Co Ltd		271
	5,846,000		Metro Pacific Investments Corp		365
	4,350,179	*,e	MF Global Holdings Ltd		17,966
	396,000		MIN XIN Holdings Ltd		166
	29,741		Mirae Asset Securities Co Ltd		701
	136,767		Mitsubishi UFJ Lease & Finance Co Ltd		5,460
	67,199		MLP AG.		429
	7,494	e	Monex Beans Holdings, Inc		1,164
	1,399,966	e	Moody’s Corp		42,629
	5,722,619	e	Morgan Stanley		77,255
	340,783	*,e	MSCI, Inc (Class A)		10,336
	875,400	*	Mulpha International BHD		95
	1,323,900		Multi-Purpose Holdings BHD		979
	104,226	e	MVC Capital, Inc		1,091
	160,462	*	Mvelaphanda Group Ltd		66
	766,335	*,e	Nasdaq Stock Market, Inc		17,733
	503,600		National Finance PCL		438
	138,894	e	Nelnet, Inc (Class A)		2,608
	122,620	*,e	Netspend Holdings, Inc		630
	34,319	e	New Mountain Finance Corp		436
	100,420	*,e	NewStar Financial, Inc		938
	101,168	e	NGP Capital Resources Co		662
	73,032		NH Investment & Securities Co Ltd		294
	39,914	e	Nicholas Financial, Inc		390
	2,785,672	*	Nomura Holdings, Inc		10,159

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	85,170		Nordnet AB (Series B)	$	188
	21,904,308		Norte Grande S.A.		277
	616,266	e	Northern Trust Corp		21,557
	500,874	e	NYSE Euronext		11,640
	372,000		Okasan Holdings, Inc		1,255
	450,659	e	OKO Bank (Class A)		4,741
	123,103		Onex Corp		3,837
	56,320		Oppenheimer Holdings, Inc		903
	46,332		Oresund Investment AB		588
	366,000	*	Orient Corp		354
	466,322	*,e	ORIX Corp		36,600
	342	e	Osaka Securities Exchange Co Ltd		1,567
	703,000		OSK Holdings BHD		341
	1,071,000		Pacific Century Regional Developments Ltd		139
	54,416		Pargesa Holding S.A.		3,722
	26,306		Partners Group		4,331
	1,867,600		Pearl Oriental Innovation Ltd		195
	184,629	e	PennantPark Investment Corp		1,647
	517,000	*,m	Peregrine Investment Holdings		0	^
	104,482	e	Perpetual Trustees Australia Ltd		2,072
	174,200		Phatra Capital PCL		154
	269,568	*,e	PHH Corp		4,335
	44,430		Philippine Stock Exchange, Inc		226
	94,013	*,e	Pico Holdings, Inc		1,928
	381,024	*	Pinetree Capital Ltd		458
	378,585		Pioneers Holding		197
	105,419	*,e	Piper Jaffray Cos		1,890
	271,967		Platinum Asset Mangement Ltd		992
	8,270,585		Polaris Securities Co Ltd		5,292
	117,054	*,e	Portfolio Recovery Associates, Inc		7,283
	89,400		Power Finance Corp Ltd		272
	1,795,640		President Securities Corp		882
	103,654	*,e	Primus Guaranty Ltd		546
	115,568	*,e	Promise Co Ltd		969
	431,156	e	Prospect Capital Corp		3,626
	182,517	e	Provident Financial plc		2,840
	480,000		Public Financial Holdings Ltd		184
	36,545	e	Pzena Investment Management, Inc (Class A)		120
	173,819		Quest Capital Corp		229
	61,755		Rathbone Brothers		998
	195,928		Ratos AB (B Shares)		2,249
	500,499	e	Raymond James Financial, Inc		12,993
	135,949		Reliance Capital Ltd		868
	977,090		Remgro Ltd		13,362
	99,247	*	RHJ International		515
	34,500		Ricoh Leasing Co Ltd		768
	1,407,843		RMB Holdings Ltd		4,400
	626,401		Rural Electrification Corp Ltd		2,203
	94,977	*,e	Safeguard Scientifics, Inc		1,425
	131,573		Samsung Card Co		4,667
	74,679		Samsung Securities Co Ltd		3,219
	118,242	e	Sanders Morris Harris Group, Inc		764

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	40,000	*	Sawada Holdings Co Ltd	$	297
	41,460	*	SBI Holdings, Inc		3,582
	199,751		Schroders plc		3,960
	631,148	e	SEI Investments Co		9,707
	5	*,b,m	SFCG Co Ltd		0	^
	385,000		Shenyin Wanguo HK Ltd		97
	1,990		Shinyoung Securities Co Ltd		45
	155,360		Shriram Transport Finance Co Ltd		1,930
	741,849	e	Singapore Exchange Ltd		3,729
	126,570		SK Securities Co Ltd		119
	75,211	*	SKS Microfinance Pvt Ltd		375
	1,943,975	e	SLM Corp		24,203
	200,442	*	SNS Reaal		497
	122,380		Solar Capital Ltd		2,464
	39,891		Solar Senior Capital Ltd		570
	1,080	*	Sparx Group Co Ltd		94
	120,000	e	SPDR S&P MidCap 400 ETF Trust		17,056
	2,716,000	e	SPDR Trust Series 1		307,369
	63,868		Sprott, Inc		396
	377,793		SREI Infrastructure Finance Ltd		260
	2,537,879	e	State Street Corp		81,618
	274,678	*,e	Stifel Financial Corp		7,295
	6,549	*,e	Streettracks Gold Trust		1,035
	4,620,000	*	Sun Innovation Holdings Ltd		72
	1,528		Sundaram Finance Ltd		16
	446,183		Suramericana de Inversiones S.A.		7,675
	11,691		Swissquote Group Holding S.A.		479
	181,933	e	SWS Group, Inc		853
	497,021	e	T Rowe Price Group, Inc		23,743
	498,000		Ta Chong Securities Co Ltd		144
	1,506,300		Ta Enterprise BHD		252
	294,337		Tai Fook Securities Group Ltd		83
	152,000		Taiwan Acceptance Corp		262
	170,000	*	Takagi Securities Co Ltd		148
	201,840	*,m	Takefuji Corp		3
	577,262	e	TD Ameritrade Holding Corp		8,489
	267,040		Tetragon Financial Group Ltd		1,692
	34,427	e	THL Credit, Inc		376
	137,667	e	TICC Capital Corp		1,125
	246,387		TMX Group, Inc		9,626
	448,680		Tokai Tokyo Securities Co Ltd		1,366
	61,642		Tong Yang Investment Bank		233
	195,000		Transpac Industrial Holdings Ltd		237
	77,229	e	Triangle Capital Corp		1,175
	411,904	e	Tullett Prebon plc		2,165
	5,964,259	*	UBS AG. (Switzerland)		68,223
	9,022		Union Financiere de France BQE S.A.		266
	1,017,565		UOB-Kay Hian Holdings Ltd		1,181
	250,237	*	Uranium Participation Corp		1,354
	1,159,000		Value Partners Group Ltd		448
	4,835		Verwalt & Privat-Bank AG.		496
	23,352	*,e	Virtus Investment Partners, Inc		1,252

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	62,881		Vontobel Holding AG.	$	1,588
	103,050	*	Vostok Nafta Investment Ltd		329
	1,239,619	e	Waddell & Reed Financial, Inc (Class A)		31,003
	106,528		Walter Investment Management Corp		2,443
	56,996		Warsaw Stock Exchange		723
	2,953,772		Waterland Financial Holdings		1,039
	26,688	e	Westwood Holdings Group, Inc		922
	15,680		Woori Financial Co Ltd		213
	114,580		Woori Investment & Securities Co Ltd		1,054
	66,005	*,e	World Acceptance Corp		3,693
			TOTAL DIVERSIFIED FINANCIALS		4,415,441
ENERGY - 10.3%
	122,701		Aban Offshore Ltd		878
	391,363	*,e	Abraxas Petroleum Corp		1,033
	23,350	e	Acergy S.A.		444
	23,239,527		Adaro Energy Tbk		4,474
	226,307	*	Advantage Oil & Gas Ltd		853
	348,364	*,m	AET&D Holdings No 1 Ptd Ltd		0	^
	8,039,620	*	Afren plc		10,086
	10,807		Aker Kvaerner ASA		104
	273,100		Alam Maritim Resources BHD		61
	313,124		Alliance Holdings GP LP		13,774
	153,035	e	Alon USA Energy, Inc		938
	798,381	*	Alpha Natural Resources, Inc		14,123
	122,919		AltaGas Income Trust		3,176
	186,425	e	AMEC plc		2,352
	1,334,278	*	Amerisur Resources plc		270
	74,617	*,e	Amyris Biotechnologies, Inc		1,510
	3,187,885	e	Anadarko Petroleum Corp		200,996
	89,000	*	Angle Energy, Inc		551
	228,463		Anglo Pacific Group plc		884
	184,000		Anhui Tianda Oil Pipe Co Ltd		28
	1,276,000		Anton Oilfield Services Group		131
	51,300	*,e	AOC Holdings, Inc		288
	2,053,388	e	Apache Corp		164,764
	36,626	e	APCO Argentina, Inc		2,726
	96,930	*,e	Approach Resources, Inc		1,647
	199,580	*	Aquila Resources Ltd		936
	344,093		ARC Energy Trust		7,408
	495,918	e	Arch Coal, Inc		7,230
	129,801	*,f	Archer Ltd (purchased 05/31/11, cost $882)		472
	309,352	*	Athabasca Oil Sands Corp		3,165
	171,781	*,e	ATP Oil & Gas Corp		1,324
	384,901	*	Atwood Oceanics, Inc		13,225
	559,305	*	Aurelian Oil & Gas plc		157
	460,113	*	Aurora Oil and Gas Ltd		979
	703,676	*	Australian Worldwide Exploration Ltd		690
	1,568,440	*	Bahamas Petroleum Co plc		208
	2,230,199		Baker Hughes, Inc		102,945
	114,392	*	Bandanna Energy Ltd		71
	523,900		Bangchak Petroleum PCL		276

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	303,626	*	Bankers Petroleum Ltd	$	1,014
	251,650		Banpu PCL		4,246
	99,827	*,e	Basic Energy Services, Inc		1,414
	486,183		Baytex Energy Trust		20,326
	3,227,975		Beach Petroleum Ltd		3,331
	144,000	*	Bellatrix Exploration Ltd		463
	234,530	e	Berry Petroleum Co (Class A)		8,298
	6,091,907		BG Group plc		116,591
	225,040		Bharat Petroleum Corp Ltd		2,977
	247,055	*,e	Bill Barrett Corp		8,953
	117,699	*	Birchcliff Energy Ltd		1,143
	362,400	*	BlackPearl Resources, Inc		1,290
	174,000	*	BNK Petroleum, Inc		425
	151,277		Bonavista Energy Trust		3,401
	34,925		Bonterra Oil & Gas Ltd		1,492
	517,045	*	Borders & Southern Petroleum plc		365
	54,344	e	Bourbon S.A.		1,237
	560,000		Boustead Singapore Ltd		346
	338,142	*	Bow Energy Ltd		477
	1,113,796	*	BowLeven plc		1,614
	12,863,033		BP plc		77,123
	861,827	e	BP plc (ADR)		31,086
	434,741	*,e	BPZ Energy, Inc		1,204
			Brasil Ecodiesel Industria e Comercio de Biocombustiveis e
	205,000	*	Oleos Vegetais S.A.		62
	394,747	*,e	Brigham Exploration Co		9,971
	3,155,000		Brightoil Petroleum Holdings Ltd		678
	177,265		Bristow Group, Inc		7,521
	477,107	e	BW Offshore Ltd		830
	74,400	*	C&C Energia Ltd		419
	73,977	*,e	C&J Energy Services, Inc		1,216
	405,060	e	Cabot Oil & Gas Corp		25,077
	3,159,773	*	Cairn Energy plc		13,704
	525,720	*,e	Cal Dive International, Inc		1,004
	92,297		Calfrac Well Services Ltd		2,157
	358,685	*	Callon Petroleum Co		1,388
	530,074		Caltex Australia Ltd		5,463
	114,620	*	Calvalley Petroleums, Inc		121
	325,034	*,e	Cam Finanziaria S.p.A.		115
	407,771		Cameco Corp		7,487
	1,295,520	*,e	Cameron International Corp		53,816
	62,100		Canadian Energy Services & Technology Corp		622
	1,177,395		Canadian Natural Resources Ltd (Canada)		34,572
	1,291,032		Canadian Oil Sands Trust		25,121
	156,400		Canyon Services Group, Inc		1,355
	67,097	e	CARBO Ceramics, Inc		6,879
	508,896	*	Carbon Energy Ltd		72
	2,678,867	*	Carnarvon Petroleum Ltd		366
	157,453	*,e	Carrizo Oil & Gas, Inc		3,393
	21,363		CAT Oil AG.		114
	110,111	*	Celtic Exploration Ltd		2,372
	3,749,329		Cenovus Energy, Inc		115,142

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,131,126		Cenovus Energy, Inc (Toronto)	$	96,423
	411,000		CH Offshore Ltd		114
	139,949	*	Chariot Oil & Gas Ltd		271
	378,404	*,e	Cheniere Energy, Inc		1,949
	1,518,600	e	Chesapeake Energy Corp		38,800
	9,553,116	e	Chevron Corp		883,854
	507,000		China Aviation Oil Singapore Corp Ltd		343
	6,896,000		China Coal Energy Co		6,154
	3,158,000		China Oilfield Services Ltd		4,016
	158,000	*	China Qinfa Group Ltd		39
	6,761,299		China Shenhua Energy Co Ltd		26,511
	633,000		China Suntien Green Energy Cor		116
	362,279	*	Chinook Energy Inc		532
	201,843	e	Cimarex Energy Co		11,243
	617,397	*	Circle Oil plc		228
	25,024	*,e	Clayton Williams Energy, Inc		1,071
	191,047	*,e	Clean Energy Fuels Corp		2,124
	321,255	*,e	Cloud Peak Energy, Inc		5,445
	41,069,000	e	CNOOC Ltd		66,035
	2,584,520		Coal India Ltd		17,527
	2,381,342	*,e	Cobalt International Energy, Inc		18,360
	1,580,670	*	Cockatoo Coal Ltd		565
	11,452	*	Compagnie Generale de Geophysique S.A.		202
	404,514	*	Complete Production Services, Inc		7,625
	208,439	*,e	Comstock Resources, Inc		3,222
	2,706,754	*,e	Concho Resources, Inc		192,558
	593,957	*	Connacher Oil and Gas Ltd		184
	5,131,921	e	ConocoPhillips		324,953
	631,904	e	Consol Energy, Inc		21,441
	83,102	*,e	Contango Oil & Gas Co		4,547
	266,734	*,e	Continental Resources, Inc		12,902
	291,225	e	Core Laboratories NV		26,161
	115,388	*	Corridor Resources, Inc		242
	180,570		Cosmo Oil Co Ltd		447
	679,384	*	Cove Energy plc		797
	3,471,290		Crescent Point Energy Corp		130,683
	117,428	*	Crew Energy, Inc		1,040
	47,788	*,e	Crimson Exploration, Inc		103
	54,134		CropEnergies AG.		361
	281,391	e	Crosstex Energy, Inc		3,793
	354,881	e	Crude Carriers Corp		3,414
	459,638	*	CVR Energy, Inc		9,717
	42,447	*	D/S Torm AS		53
	72,581	*	d’aAmico International Shipping S.A.		60
	606,128	*	Dart Energy Ltd		301
	29,620	*,e	Dawson Geophysical Co		698
	269,100		Dayang Enterprise Holdings BHD		126
	281,364		Daylight Resources Trust		1,423
	113,500	*	Deep Sea Supply plc		138
	668,838	*	Deep Yellow Ltd		79
	1,546	*	Delek Energy Systems Ltd		419
	70,947	e	Delek US Holdings, Inc		800

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,615,589	*,e	Denbury Resources, Inc	$	133,579
	395,408	*	Denison Mines Corp		423
	74,095	*	Det Norske Oljeselskap ASA		589
	1,140,757	*,e	Devon Energy Corp		63,244
	276,737	e	DHT Maritime, Inc		565
	451,454	e	Diamond Offshore Drilling, Inc		24,713
	892,130	*,e	DNO International ASA		818
	20,241	*	Dockwise Ltd		255
	3,499,146		Dragon Oil plc		25,809
	606,926	*	Dresser-Rand Group, Inc		24,599
	151,852	*	Dril-Quip, Inc		8,186
	1,600,000	*	Dynamic Energy Holdings Ltd		130
	977,650	*	Eastern Star Gas Ltd		717
	7,752,806		Ecopetrol S.A.		15,506
	4,054,149		El Paso Corp		70,867
	151,015	*	Electromagnetic GeoServices AS		286
	38,600		Enbridge Income Fund		678
	1,051,730		Enbridge, Inc		33,572
	772,712		EnCana Corp		14,873
	381,677	*	EnCore Oil plc		294
	187,071	*,e	Endeavour International Corp		1,493
	104,342		Enerflex Ltd		871
	163,672	e	Energen Corp		6,693
	126,447	*,e	Energy Partners Ltd		1,400
	461,588	e	Energy Resources of Australia Ltd		1,282
	316,226	*,e	Energy XXI Bermuda Ltd		6,783
	291,291		Enerplus Resources Fund		7,191
	1,566,680	e	ENI S.p.A.		27,562
	1,488,996	*	Enquest plc (London)		2,057
	940,878	e	Ensco International plc (ADR)		38,040
	288,333		Ensign Energy Services, Inc		3,783
	664,935	e	EOG Resources, Inc		47,217
	393,354	e	Equitable Resources, Inc		20,989
	161,636	e	ERG S.p.A.		1,796
	244,091	*	Essar Energy plc		946
	245,700		Esso Malaysia BHD		259
	5,636		Esso SA Francaise		520
	1,007,900		Esso Thailand PCL		293
	105,932	e	Etablissements Maurel et Prom		1,724
	19,648	f	Eurasia Drilling Co Ltd (GDR) (purchased 10/06/10, cost $507)		359
	30,174		Euronav NV		173
	64,542	*	Evolution Petroleum Corp		456
	337,720	e	EXCO Resources, Inc		3,620
	63,589		Exmar NV		351
	309,384	*,e	Exterran Holdings, Inc		3,007
	103,318	*	Extract Resources Ltd		752
	19,561,815		Exxon Mobil Corp		1,420,775
	494,000		Ezion Holdings Ltd		178
	697,200	e	Ezra Holdings Ltd		445
	226,096	*	Fairborne Energy Ltd		604
	134,810	*	Falkland Oil & Gas Ltd		95

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	190,854	*	Faroe Petroleum plc	$	429
	99,359	e	Fersa Energias Renovables S.A.		109
	98,190	*	Flint Energy Services Ltd		932
	1,161,054	*	FMC Technologies, Inc		43,656
	258,363	*	Forest Oil Corp		3,720
	1,910,580		Formosa Petrochemical Corp		5,210
	82,415	e	Fred Olsen Energy ASA		2,350
	104,500		Freehold Royalty Trust		1,631
	328,558	e	Frontline Ltd		1,594
	74,818	e	Frontline Ltd (Norway)		359
	5,495		Fugro NV		277
	214,095	*,e	FX Energy, Inc		884
	242,807	*	Galleon Energy, Inc		558
	129,383		Galp Energia SGPS S.A.		2,363
	256,632	*,e	Gastar Exploration Ltd		770
	8,215,987		Gazprom (ADR)		78,650
	45,116		Gazpromneft OAO (ADR)		781
	494,271	e	General Maritime Corp		129
	4,210,000	*	Genesis Energy Holdings Ltd		152
	44,441	*,e	Geokinetics, Inc		108
	83,742	*,e	Georesources, Inc		1,490
	65,879	*,e	Gevo, Inc		367
	66,826	*,e	Global Geophysical Services, Inc		533
	430,695	*	Global Industries Ltd		3,411
	317,726	*,e	GMX Resources, Inc		721
	223,033	e	Golar LNG Ltd		7,088
	98,275	*,e	Goodrich Petroleum Corp		1,162
	40,059		Great Eastern Shipping Co Ltd		204
	8,574		Great Offshore Ltd		21
	91,037	*,e	Green Plains Renewable Energy, Inc		849
	187,077	*	Grupa Lotos S.A.		1,407
	108,367		GS Holdings Corp		5,135
	276,456	*	Guildford Coal Ltd		255
	78,243	e	Gulf Island Fabrication, Inc		1,618
	991,859	*	Gulf Keystone Petroleum Ltd		2,219
	113,953	*	Gulfmark Offshore, Inc		4,141
	178,611	*	Gulfport Energy Corp		4,319
	348,643	*	Gulfsands Petroleum plc		999
	9,521	e	Hallador Petroleum Co		81
	3,862,362		Halliburton Co		117,878
	1,357		Hankook Shell Oil Co Ltd		227
	74,919	*	Hardy Oil & Gas plc		196
	49,347		Hargreaves Services plc		777
	132,021	*,e	Harvest Natural Resources, Inc		1,131
	772,358	*,e	Helix Energy Solutions Group, Inc		10,118
	153,399		Hellenic Petroleum S.A.		1,199
	490,684	e	Helmerich & Payne, Inc		19,922
	601,317	*,e	Hercules Offshore, Inc		1,756
	276,005		Heritage Oil Ltd		995
	1,185,909	e	Hess Corp		62,213
	235,849		Hindustan Oil Exploration		515
	49,900		Hindustan Petroleum Corp Ltd		373

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,005,456	e	Holly Corp	$	26,363
	1,549,000	*	Honghua Group Ltd		148
	1,394,691	*	Horizon Oil Ltd		242
	131,325	*,e	Hornbeck Offshore Services, Inc		3,271
	74,184	e	Houston American Energy Corp		1,021
	7,200	*	HRT Participacoes em Petroleo SA		2,872
	211,140	*	Hunnu Coal Ltd		339
	249,178		Hunting PLC		2,306
	4,382,000		Huscoke Resources Holdings Ltd		103
	1,036,462		Husky Energy, Inc		22,442
	623,643	*,e	Hyperdynamics Corp		2,307
	95,325	e	Idemitsu Kosan Co Ltd		8,539
	737,072		Imperial Oil Ltd		26,475
	10,000		Indian Oil Corp Ltd		64
	1,390,718		Inner Mongolia Yitai Coal Co		6,962
	1,503		Inpex Holdings, Inc		9,230
	727,050	*,e	ION Geophysical Corp		3,439
	19,840,600		IRPC PCL		2,216
	5,237	*,e	Isramco, Inc		303
	92,953		Itochu Enex Co Ltd		542
	376,273	*	Ivanhoe Energy, Inc		406
	160,238	*,e	James River Coal Co		1,021
	3,200		Japan Drilling Co Ltd		102
	34,454		Japan Petroleum Exploration Co		1,252
	8,078	*	Jerusalem Oil Exploration		99
	235,273		JKX Oil & Gas plc		600
	690,673		John Wood Group plc		5,664
	2,205,661		JX Holdings, Inc		12,380
	40,000		Kanto Natural Gas Development Ltd		217
	239,287	*	Karoon Gas Australia Ltd		642
	832,500		Kencana Petroleum BHD		641
	520,592	*,e	Key Energy Services, Inc		4,940
	142,548		Keyera Facilities Income Fund		6,176
	647,821	e	Kinder Morgan, Inc		16,772
	1,743,870	*	King Stone Energy Group Ltd		261
	24,300	*	KiOR, Inc (Class A)		504
	83,460	e	Knightsbridge Tankers Ltd		1,381
	477,525		KNM Group BHD		177
	838,672	*,e	Kodiak Oil & Gas Corp		4,369
	597,577	*,e	Kosmos Energy LLC		6,998
	215,106	*	Kvaerner ASA		285
	126,868	*,e	L&L Energy, Inc		343
	168,000	*	Legacy Oil & Gas, Inc		1,299
	373,336		Linc Energy Ltd		673
	39,416		Lubelski Wegiel Bogdanka S.A.		1,214
	132,036		Lufkin Industries, Inc		7,026
	906,185		LUKOIL (ADR)		45,672
	429,419	*	Lundin Petroleum AB		7,260
	445,642	*,e	Magnum Hunter Resources Corp		1,475
	3,978,768	e	Marathon Oil Corp		85,862
	1,578,329	e	Marathon Petroleum Corp		42,710
	190,719		Maridive & Oil Services SAE		355

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	43,583		Matrix Composites & Engineering Ltd	$	140
	118,596	*	Matrix Service Co		1,009
	1,014,304	*,e	McDermott International, Inc		10,914
	393,253	*,e	McMoRan Exploration Co		3,905
	186,065	*	MEG Energy Corp		6,882
	95,357		Melrose Resources plc		204
	340,896		Miclyn Express Offshore Ltd		499
	64,714	*	Midnight Oil Exploration Ltd		279
	2,544,000		MIE Holdings Corp		579
	116,961	*,e	Miller Petroleum, Inc		309
	40,602	*,e	Mitcham Industries, Inc		455
	50,500		Mitsuuroko Co Ltd		340
	64,300	e	Modec, Inc		1,138
	68,893	*,e	MOL Hungarian Oil and Gas plc		4,652
	335,521	*	Molopo Energy Ltd		226
	6,211,117	*	Mongolia Energy Co ltd		400
	109,931		Motor Oil Hellas Corinth Refineries S.A.		895
	184,398		Mullen Group Ltd		3,308
	496,741	e	Murphy Oil Corp		21,936
	663,432	*,e	Nabors Industries Ltd		8,134
	200,800		NAL Oil & Gas Trust		1,475
	38,680	*	Naphtha Israel Petroleum Corp Ltd		97
	1,561,670	e	National Oilwell Varco, Inc		79,989
	54,875	*,e	Natural Gas Services Group, Inc		704
	111,843	*	Nautical Petroleum plc		492
	7,381	e	Neste Oil Oyj		64
	462,596	*	New Brazil Holding ASA		278
	529,555		New Zealand Oil & Gas Ltd		264
	305,143	*,e	Newfield Exploration Co		12,111
	994,000		Newocean Energy Holdings Ltd		188
	454,871	*,e	Newpark Resources, Inc		2,770
	572,810		Nexen, Inc		8,910
	1,117,197	*,e	Nexus Energy Ltd		147
	46,367		Niko Resources Ltd		1,910
	48,400		Nippon Gas Co Ltd		936
	725,243	e	Noble Energy, Inc		51,347
	194,120	e	Nordic American Tanker Shipping		2,737
	163,404		Northern Offshore Ltd		270
	253,333	*,e	Northern Oil And Gas, Inc		4,912
	282,500	*	Norwegian Energy Co AS		194
	233,504	f	NovaTek OAO (GDR) (purchased 01/31/07, cost $16,873)		26,808
	207,979		NuVista Energy Ltd		1,135
	241,588	*,e	Oasis Petroleum, Inc		5,395
	7,063,668	e	Occidental Petroleum Corp		505,052
	345,662		Oceaneering International, Inc		12,216
	2,474,477	*	OGX Petroleo e Gas Participacoes S.A.		15,134
	1,207,942		Oil Refineries Ltd		579
	119,250	*,e	Oil States International, Inc		6,072
	77,368		OMV AG.		2,303
	384,256		Origin Energy Ltd		4,917
	5,300	*	OSX Brasil S.A.		1,034
	105,732	e	Overseas Shipholding Group, Inc		1,453

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	20,792	*	OYO Geospace Corp	$	1,170
	796,920	*,e	PA Resources AB		223
	213,362	*,e	Pacific Asia Petroleum, Inc		128
	9,164		Pacific Rubiales Energy Corp		195
	493,142		Pacific Rubiales Energy Corp (Toronto)		10,447
	57,989	*,e	Paladin Resources Ltd		67
	31,318	e	Panhandle Oil and Gas, Inc (Class A)		888
	159,561		Paramount Energy Trust		301
	49,889	*	Paramount Resources Ltd (Class A)		1,468
	508,679	*	Parker Drilling Co		2,233
	71,815		Parkland Income Fund		614
	137,256		Pason Systems, Inc		1,745
	526,743	*,e	Patriot Coal Corp		4,456
	396,688		Patterson-UTI Energy, Inc		6,879
	7,703		Paz Oil Co Ltd		951
	602,252		Peabody Energy Corp		20,404
	307,799		Pembina Pipeline Income Fund		7,534
	422,061		Pengrowth Energy Trust		3,814
	210,766	e	Penn Virginia Corp		1,174
	562,499		Penn West Energy Trust		8,347
	354,865		PetroBakken Energy Ltd		2,286
	153,500	*	Petrobank Energy & Resources Ltd		930
	2,855,145	*	Petroceltic International plc		177
	737,059	e	Petrofac Ltd		13,634
	5,982,398		Petroleo Brasileiro S.A.		66,498
	1,570,277		Petroleo Brasileiro S.A. (ADR)		35,253
	7,209,366		Petroleo Brasileiro S.A. (Preference)		73,234
	100,074	*,e	Petroleum Development Corp		1,940
	296,492	*	Petroleum Geo-Services ASA		2,981
	247,836	*	Petrolinvest S.A.		226
	184,431		Petrominerales Ltd		3,626
	615,000		Petronas Dagangan BHD		3,063
	486,782	*	Petroneft Resources plc		169
	252,603		Petroplus Holdings AG.		1,388
	299,712	*,e	Petroquest Energy, Inc		1,648
	226,302		Peyto Energy Trust		4,304
	80,564	*,e	PHI, Inc		1,542
	236,920	*	Pioneer Drilling Co		1,701
	264,110	e	Pioneer Natural Resources Co		17,371
	361,681	*,e	Plains Exploration & Production Co		8,214
	363,491	*	Polarcus Ltd		183
	3,429,259		Polish Oil & Gas Co		4,177
	505,441	*	Polski Koncern Naftowy Orlen S.A.		5,506
	241,918	*	Precision Drilling Trust		2,015
	686,439	*	Premier Oil plc		3,690
	184,766		ProEx Energy Ltd		2,273
	302,376	e	ProSafe ASA		1,959
	369,100		Provident Energy Trust		3,022
	4,999,000	*	PT Benakat Petroleum Energy		53
	21,149,000		PT Bumi Resources Tbk		4,610
	4,494,500	*	PT Delta Dunia Petroindo Tbk		347
	26,000	*	PT Dian Swastatika Sentosa Tbk		36

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,973,500		PT Elnusa	$	89
	23,000,500	*	PT Energi Mega Persada Tbk		339
	643,000		PT Harum Energy Indonesia Tbk		513
	772,000		PT Indo Tambangraya Megah		3,402
	1,644,500		PT Medco Energi Internasional Tbk		397
	2,208,134		PT Tambang Batubara Bukit Asam Tbk		4,172
	2,119,698		PTT Aromatics & Refining PCL		1,662
	1,695,469		PTT Exploration & Production PCL		7,566
	1,813,550		PTT PCL		15,069
	53,914		QGEP Participacoes S.A.		444
	402,616	e	Questar Market Resources, Inc		10,899
	375,067	*	Questerre Energy Corp		258
	269,528	*,e	Quicksilver Resources, Inc		2,043
	374,101		Range Resources Corp		21,870
	925,323		Refineria La Pampilla S.A. Relapasa		247
	2,175,723		Reliance Industries Ltd		35,697
	807,079	*,e	Rentech, Inc		630
	973,224		Repsol YPF S.A.		25,692
	186,143	*,e	Resolute Energy Corp		2,115
	134,541	*,e	Rex Energy Corp		1,702
	30,419	*,e	Rex Stores Corp		513
	27,169	*,e	RigNet, Inc		436
	2,092,631	*	Roc Oil Co Ltd		612
	3,766,183	*	Rockhopper Exploration plc		11,335
	258,279	*,e	Rosetta Resources, Inc		8,838
	3,563,466	f	Rosneft Oil Co (GDR) (purchased 04/16/09, cost $24,492)		20,702
	517,310	*,e	Rowan Cos, Inc		15,618
	5,585,690		Royal Dutch Shell plc (A Shares)		172,581
	4,050,097		Royal Dutch Shell plc (B Shares)		126,018
	625,592	e	RPC, Inc		10,210
	2,476,000	*	Ruifeng Petroleum Chemical Holdings Ltd		234
	2,116,217		Saipem S.p.A.		74,274
	335,721	*,e	Salamander Energy plc		1,034
	582,367	*	San Leon Energy plc		130
	72,000		San-Ai Oil Co Ltd		351
	985,005	*,e	SandRidge Energy, Inc		5,477
	844,268		Santos Ltd		9,137
	1,175,257	*,e	Saras S.p.A.		1,585
	1,071,871		Sasol Ltd		43,959
	196,338	*	Savanna Energy Services Corp		1,375
	13,572		SBM Offshore NV		235
	6,374,028		Schlumberger Ltd		380,720
	15,236	e	Schoeller-Bleckmann Oilfield Equipment AG.		1,039
	81,100	*	Scomi Group BHD		7
	90,604	*,e	Scorpio Tankers, Inc		478
	166,343	e	SEACOR Holdings, Inc		13,342
	317,673	e	SeaDrill Ltd		8,773
	168,318	*,e	SemGroup Corp		3,360
	50	*	Serval Integrated Energy Services		0	^
	728,215	*,e	Sevan Marine ASA		59
	164,800		Shandong Molong Petroleum Machinery Co Ltd		79
	75,753		ShawCor Ltd		1,759

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,522,500		Shengli Oil&Gas Pipe Holdings Ltd	$	120
	51,200		Shinko Plantech Co Ltd		479
	184,310	e	Ship Finance International Ltd		2,396
	121,747		Showa Shell Sekiyu KK		867
	132,800		Siamgas & Petrochemicals PCL		47
	85,000		Sinanen Co Ltd		394
	104,000		Sinopec Kantons Holdings Ltd		52
	94,459		SK Energy Co Ltd		11,052
	9,150		SK Gas Co Ltd		544
	276,994	*	Soco International plc		1,404
	67,702		S-Oil Corp		5,842
	227,237	*,e	Solazyme, Inc		2,184
	200,348	*	Songa Offshore SE		617
	446,700	*	Southern Pacific Resource Corp		512
	222,696	e	Southern Union Co		9,035
	1,681,697	*,e	Southwestern Energy Co		56,051
	1,898,751	e	Spectra Energy Corp		46,576
	109,222	*	Sprott Resource Corp		417
	298,605	e	St. Mary Land & Exploration Co		18,110
	1,394,263		Statoil ASA		29,918
	206,508	*	Sterling Energy plc		133
	166,518	*	Sterling International Enterprises Ltd		727
	292,622	*,e	Stone Energy Corp		4,743
	1,655,000	e	Straits Asia Resources Ltd		2,468
	2,954,121		Suncor Energy, Inc		75,439
	2,752,559		Suncor Energy, Inc (NY)		70,025
	256,957	e	Sunoco, Inc		7,968
	446,368	*,e	Superior Energy Services		11,713
	1,435,409		Surgutneftegaz (ADR)		11,520
	339,700	e	Surgutneftegaz (ADR) (London)		2,701
	433,000	*,e	Swiber Holdings Ltd		166
	198,555	*,e	Swift Energy Co		4,833
	315,649	*,e	Syntroleum Corp		271
	1,070,105		Talisman Energy, Inc		13,153
	124,028	e	Targa Resources Investments, Inc		3,690
	486,206		Tatneft (GDR)		11,957
	351,152		Technip S.A.		28,133
	34,540	e	Tecnicas Reunidas S.A.		1,102
	121,432	e	Teekay Corp		2,746
	188,015	e	Teekay Tankers Ltd (Class A)		865
	46,973		Tenaris S.A.		592
	121,887	*,e	Tesco Corp		1,414
	857,049	*,e	Tesoro Corp		16,687
	534,400	*	Tethys Petroleum Ltd		280
	481,052	*	Tetra Technologies, Inc		3,714
	220,025	e	TGS Nopec Geophysical Co ASA		4,081
	2,124,200		Thai Oil PCL		3,437
	116,859	e	Tidewater, Inc		4,914
	2,800,000	*,e	Titan Petrochemicals Group Ltd		123
	119,174	f	TMK OAO (GDR) (purchased 06/17/10, cost $1,968)		1,086
	682,931	e	TonenGeneral Sekiyu KK		7,847
	3,113,488	e	Total S.A.		137,365

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	125,307	*	Tourmaline Oil Corp	$	3,685
	162,000	e	Toyo Kanetsu K K		322
	796,341		TransCanada Corp		32,328
	91,700	*	TransGlobe Energy Corp		739
	369,963		Transocean Ltd		17,838
	169,109	*,e	Triangle Petroleum Corp		607
	334,500		Trican Well Service Ltd		4,743
	73,580		Trilogy Energy Corp		1,896
	167,266		Trinidad Drilling Ltd		966
	5,786,114		Tullow Oil plc		117,019
	234,476		Tupras Turkiye Petrol Rafine		4,808
	132,154		Turcas Petrolculuk AS.		182
	327,198	*	UK Coal plc		176
	346,338	*,e	Ultra Petroleum Corp		9,600
	461,400		Ultrapar Participacoes S.A.		7,239
	67,096	*,e	Union Drilling, Inc		315
	92,932	*	Unit Corp		3,431
	262,958	*,e	Uranerz Energy Corp		360
	286,444	*,e	Uranium Energy Corp		785
	650,654		Uranium One, Inc		1,285
	382,735	*,e	Uranium Resources, Inc		261
	482,834	*,e	Ur-Energy, Inc		435
	508,691	*,e	USEC, Inc		819
	409,364	*,e	Vaalco Energy, Inc		1,990
	2,349,105	e	Valero Energy Corp		41,767
	93,606	*	Valiant Petroleum plc		671
	674,786	*,e	Vantage Drilling Co		843
	230,949	*	Venoco, Inc		2,035
	213,200		Veresen, Inc		2,999
	143,348		Vermilion Energy Trust		6,024
	228,006	*,e	Voyager Oil & Gas, Inc		479
	145,053	e	W&T Offshore, Inc		1,996
	638,400		Wah Seong Corp BHD		391
	393,950	*	Warren Resources, Inc		945
	1,082,645	*	Weatherford International Ltd		13,219
	140,052	*,e	West Siberian Resources Ltd (GDR)		1,483
	282,351	*,e	Western Refining, Inc		3,518
	44,511	*,e	Westmoreland Coal Co		345
	10,042	*,m	White Energy 2011 Performance		0	^
	57,998		Whitehaven Coal Ltd		294
	279,719	*,e	Whiting Petroleum Corp		9,813
	233,261	*	Willbros Group, Inc		973
	2,688,321		Williams Cos, Inc		65,434
	176,266		Woodside Petroleum Ltd		5,461
	296,569	e	World Fuel Services Corp		9,683
	633,412		WorleyParsons Ltd		15,805
	204,128	*	Xcite Energy Ltd		408
	421,571	*	Xenolith Resources Ltd		553
	4,134,000	e	Yanzhou Coal Mining Co Ltd		8,796
	36,800		Zargon Energy Trust		445
	118,463	*,e	Zion Oil & Gas, Inc		232
			TOTAL ENERGY		9,139,816

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
FOOD & STAPLES RETAILING - 1.7%
	595,509	e	Aeon Co Ltd	$	8,055
	9,400		Ain Pharmaciez Inc		414
	508,329		Alimentation Couche Tard, Inc		14,262
	301,971		Almacenes Exito S.A.		3,592
	84,725	e	Andersons, Inc		2,852
	69,279	e	Arcs Co Ltd		1,389
	5,715	e	Arden Group, Inc (Class A)		454
	28,786		Axfood AB		981
	124,000		Beijing Jingkelong Co Ltd		111
	139,851		BIM Birlesik Magazalar AS		3,850
	39,862		Bizim Toptan Satis Magazalari AS.		466
	96,711	*	BJ’s Wholesale Club, Inc		4,955
	12,492		Blue Square-Israel Ltd		68
	2,126,265		Booker Group plc		2,404
	69,000	*	Brazil Pharma S.A.		514
	298,882	e	Carrefour S.A.		6,806
	162,926	e	Casey’s General Stores, Inc		7,112
	168,342		Casino Guichard Perrachon S.A.		13,140
	16,600		Cawachi Ltd		328
	1,767,023		Centros Comerciales Sudamericanos S.A.		9,470
	23,300	*	Chefs’ Warehouse Holdings, Inc		274
	1,824,300	e	China Resources Enterprise		6,069
	149,521		Cia Brasileira de Distribuicao Grupo Pao de Acucar		4,519
	2,200	e	Cia Brasileira de Distribuicao Grupo Pao de Acucar (ADR)		68
	125,900		Circle K Sunkus Co Ltd		2,119
	18,660		Cocokara Fine Holdings, Inc		511
	24,397		Colruyt S.A.		1,014
	471,700	*	Controladora Comercial Mexicana S.A. de C.V.		633
	8,000		Cosmos Pharmaceutical Corp		411
	2,051,173	e	Costco Wholesale Corp		168,442
	2,719,200		CP Seven Eleven PCL		4,174
	8,400		Create SD Holdings Co Ltd		196
	6,760,323	e	CVS Corp		227,012
	5,900		Daikokutenbussaan Co Ltd		203
	184,626		Delhaize Group		10,793
	7,860,646	*	Distribuidora Internacional de Alimentacion S.A.		31,299
	139,800		Drogasil S.A.		836
	32,808	*	E-Mart Co Ltd		8,299
	50,046		Empire Co Ltd		2,746
	102,691		Eurocash S.A.		727
	52,774		FamilyMart Co Ltd		2,016
	112,269	*,e	Fresh Market, Inc		4,284
	687,476		Fyffes plc		350
	69,161		George Weston Ltd		4,569
	14,520		Growell Holdings Co Ltd		337
	72,266	e	Hakon Invest AB		1,008
	40,500	e	Heiwado Co Ltd		551
	1,510,500		Heng Tai Consumables Group Ltd		70
	76,749	*	Indiabulls Wholesale Service		6
	61,423	e	Ingles Markets, Inc (Class A)		875

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,600		Itochu-Shokuhin Co Ltd	$	211
	84,741		Izumiya Co Ltd		393
	2,938,326		J Sainsbury plc		12,512
	255,036		Jean Coutu Group PJC, Inc/The		2,952
	1,215,807		Jeronimo Martins SGPS S.A.		18,987
	67,000		Kasumi Co Ltd		453
	41,900		Kato Sangyo Co Ltd		999
	111,015	e	Kesko Oyj (B Shares)		3,416
	20,427	*	Kiler Alisveris Hizmetleri Gida Sanayi ve Ticaret AS.		39
	2,550,138		Koninklijke Ahold NV		29,990
	5,380,201	e	Kroger Co		118,149
	109,859	e	Lawson, Inc		6,219
	28,100		Liquor Stores Income Fund		376
	159,920		Loblaw Cos Ltd		6,019
	377,371	f	Magnit OAO (GDR) (purchased 05/26/10, cost $7,739)		7,154
	124,361		Majestic Wine plc		848
	53,616		MARR S.p.A.		555
	75,233		Maruetsu, Inc		261
	141,314		Massmart Holdings Ltd		2,419
	43,200	e	Matsumotokiyoshi Holdings Co Ltd		879
	146,974		Metcash Ltd		579
	398,438		Metro AG.		16,913
	168,109		Metro, Inc		7,351
	34,800	e	Ministop Co Ltd		653
	62,258	e	Nash Finch Co		1,677
	65,419		North West Co Fund		1,179
	101,240	f	O’Key Group S.A. (GDR) (purchased 11/02/10, cost $1,092)		639
	46,000		Okuwa Co Ltd		714
	2,395,820	e	Olam International Ltd		4,083
	149,495	*	Pantry, Inc		1,813
	377,262		Pick’n Pay Holdings Ltd		715
	306,757		Pick’n Pay Stores Ltd		1,383
	1,365,320		President Chain Store Corp		7,689
	71,484	e	Pricesmart, Inc		4,455
	47,700	*	Raia S.A.		652
	55,900	e	Rallye S.A.		1,606
	29,641		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		834
	4,029,074	*,e	Rite Aid Corp		3,948
	208,852	e	Ruddick Corp		8,143
	21,879		Ryoshoku Ltd		631
	23,500		S Foods, Inc		191
	1,042,077	e	Safeway, Inc		17,330
	10,200		San-A Co Ltd		420
	1,477,519		Seven & I Holdings Co Ltd		41,415
	198,440		Shanghai Friendship Group, Inc Ltd		275
	269,336		Shoppers Drug Mart Corp		10,499
	767,431		Shoprite Holdings Ltd		10,746
	126,411		Shufersal Ltd		501
	166,000		Siam Makro PCL		1,161
	36,460		Sligro Food Group NV		1,220
	245,662		Spar Group Ltd		2,918

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	126,437	e	Spartan Stores, Inc	$	1,957
	43,000		Sugi Pharmacy Co Ltd		1,208
	172,500	*	Sun Art Retail Group Ltd		179
	45,300	e	Sundrug Co Ltd		1,424
	1,013,532	e	Supervalu, Inc		6,750
	34,268	*	Susser Holdings Corp		683
	1,052,411	e	Sysco Corp		27,257
	127,000		Taiwan TEA Corp		64
	8,074,137		Tesco plc		47,295
	693,266		Total Produce plc		353
	23,988		Tsuruha Holdings, Inc		1,336
	195,390	*,e	United Natural Foods, Inc		7,237
	254,600	e	UNY Co Ltd		2,366
	121,400		Valor Co Ltd		2,077
	31,219		Village Super Market (Class A)		747
	3,207,065	e	Walgreen Co		105,480
	8,893,021	e	Wal-Mart de Mexico S.A. de C.V. (Series V)		20,494
	4,949,453		Wal-Mart Stores, Inc		256,878
	62,332		Weis Markets, Inc		2,310
	1,074,514		Wesfarmers Ltd		32,466
	142,090		Wesfarmers Ltd PPS		4,372
	659,880	e	Whole Foods Market, Inc		43,097
	238,174	*,e	Winn-Dixie Stores, Inc		1,410
	2,504,394		WM Morrison Supermarkets plc		11,292
	1,311,794		Woolworths Ltd		31,347
	1,034,149	*,e	Wumart Stores, Inc		2,044
	47,659	*,f	X 5 Retail Group NV (GDR) (purchased 08/25/10, cost $1,917)		1,311
	8,600		Yaoko Co Ltd		326
			TOTAL FOOD & STAPLES RETAILING		1,544,558
FOOD, BEVERAGE & TOBACCO - 5.9%
	34,967		AarhusKarlshamn AB		824
	297,709		Afgri Ltd		211
	95,862	*	AGV Products Corp		29
	829,281	e	Ajinomoto Co, Inc		9,796
	20,160	e	Alico, Inc		396
	113,464		Alicorp S.A.		225
	14,816		Alliance Grain Traders, Inc		315
	337,297	*,e	Alliance One International, Inc		823
	9,322,696	e	Altria Group, Inc		249,942
	274,351		Anadolu Efes Biracilik Ve Malt Sanayii AS		3,167
	2,974	*	Anheuser-Busch InBev NV		0	^
	1,413,591		Archer Daniels Midland Co		35,071
	20,300		Ariake Japan Co Ltd		413
	31,995		Aryzta AG.		1,389
	716,161		Asahi Breweries Ltd		15,175
	51,256		Asian Bamboo AG.		821
	1,102,624		Asian Citrus Holdings Ltd		505
	246,400		Asiatic Development BHD		536
	1,741,567		Associated British Foods plc		29,982
	43,061		Astral Foods Ltd		624

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,936		Atria Group plc	$	121
	771,000		Ausnutria Dairy Corp Ltd		127
	205,736		Austevoll Seafood ASA		710
	311,861	*	Australian Agricultural Co Ltd		410
	549,064		AVI Ltd		2,191
	269,965	e	B&G Foods, Inc (Class A)		4,503
	288,965		Bajaj Hindusthan Ltd		226
	37,197		Bakkafrost P		236
	152,998		Balrampur Chini Mills Ltd		143
	74,225		Banvit		145
	6,265	*	Baron de Ley		357
	2,484		Barry Callebaut AG.		2,091
	1,346	*	Belvedere S.A.		56
	217,000		BESUNYEN HOLDINGS		39
	14,822		Binggrae Co Ltd		589
	250,600	*	BioExx Specialty Proteins Ltd		86
	344,500		Biostime Internatonal Holdings Ltd		574
	91,948	*	Black Earth Farming Ltd		229
	6,257		Bonduelle S.C.A.		542
	43,049	*,e	Boston Beer Co, Inc (Class A)		3,130
	700	e	BRF-Brasil Foods S.A. (ADR)		12
	144,500		British American Tobacco Malaysia BHD		2,016
	3,602,327		British American Tobacco plc		152,109
	322,504	e	Britvic plc		1,573
	196,329	e	Brown-Forman Corp (Class B)		13,771
	640,439	e	Bunge Ltd		37,331
	569,550		C&C Group plc		2,151
	15,348		Cairo Poultry Co		26
	48,477	e	Calavo Growers, Inc		995
	81,749	e	Cal-Maine Foods, Inc		2,569
	609,533	e	Campbell Soup Co		19,731
	22,351		Campofrio Alimentacion S.A.		190
	12,661		Carlsberg AS (Class B)		750
	92,200		Carlsberg Brewery-Malay BHD		185
	78,861		Casa Grande S.A.		383
	319,601	*,e	Central European Distribution Corp		2,240
	193,570		Cermaq ASA		2,067
	4,441,437	e	Chaoda Modern Agriculture		627
	3,995,200		Charoen Pokphand Foods PCL		3,414
	2,638,700	e	China Agri-Industries Holdings Ltd		1,658
	592,000		China Corn Oil Co Ltd		263
	516,000		China Green Holdings Ltd		97
	1,273,500		China Huiyuan Juice Group Ltd		341
	1,973,100		China Mengniu Dairy Co Ltd		6,037
	1,461,292	*,f	China Minzhong Food Corp Ltd (purchased 11/30/10, cost $1,560)		973
	1,551,000	*	China Modern Dairy Holdings		325
	23,321		China Ocean Resources Co Ltd		110
	4,050,000		China Starch Holdings Ltd		107
	1,580,000		China Tontine Wines Group Ltd		139
	2,101,000		China Yurun Food Group Ltd		2,222
	243,848	*	Chiquita Brands International, Inc		2,034

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	158,694		Cia Cervecerias Unidas S.A.	$	1,664
	3,300	e	Cia de Bebidas das Americas (ADR)		101
	1,480,926	*	Cia Pesquera Camanchaca S.A.		140
	11,701		CJ CheilJedang Corp		2,889
	67,016		Clover Industries Ltd		91
	36,418	*	CNK International Co Ltd		283
	104,639		Coca Cola Hellenic Bottling Co S.A.		1,844
	609,887	e	Coca-Cola Amatil Ltd		6,987
	32,560		Coca-Cola Bottling Co Consolidated		1,806
	61,300		Coca-Cola Central Japan Co Ltd		866
	10,364,744	e	Coca-Cola Co		700,243
	6,740,664	e	Coca-Cola Enterprises, Inc		167,708
	499,575		Coca-Cola Femsa S.A. de C.V.		4,428
	97,883		Coca-Cola Icecek AS		1,327
	106,218		Coca-Cola West Japan Co Ltd		2,037
	1,376,600	e	ConAgra Foods, Inc		33,341
	323,969	*,e	Constellation Brands, Inc (Class A)		5,831
	23,549	e	Copeinca ASA		137
	2,531,231	e	Corn Products International, Inc		99,326
	521,174		Cosan SA Industria e Comercio		6,644
	183,500	*	Cott Corp		1,259
	5,180,000		CP Pokphand Co		514
	42,965	*,e	Craft Brewers Alliance, Inc		241
	93,844		CSM		1,854
	503,000		DaChan Food Asia Ltd		100
	2,160		Dae Han Flour Mills Co Ltd		253
	20,360		Daesang Corp		211
	307,265		Dairy Crest Group plc		1,671
	1,298,000	*	Daqing Dairy Holdings Ltd		186
	764,226	*	Darling International, Inc		9,622
	398,971		Davide Campari-Milano S.p.A.		2,911
	323,796	*,e	Dean Foods Co		2,872
	346,636		Devro plc		1,271
	4,692,336	e	Diageo plc		89,467
	198,711	e	Diamond Foods, Inc		15,855
	146,402	*,e	Dole Food Co, Inc		1,464
	4,194		Dongwon F&B Co Ltd		192
	5,538		Dongwon Industries Co Ltd		720
	1,918,899	e	Dr Pepper Snapple Group, Inc		74,415
	9,300		Dydo Drinco, Inc		360
	1,214,000		Dynasty Fine Wines Group Ltd		268
	29,674	e	East Asiatic Co Ltd AS		605
	157,097	*,e	Ebro Puleva S.A.		2,684
	669,374		Embotelladoras Arca SAB de C.V.		2,794
	3,565,492		Empresas Iansa S.A.		239
	87,464	e	Ezaki Glico Co Ltd		1,124
	46,308	e	Farmer Bros Co		255
	1,162,000		First Resources Ltd		1,080
	349,186	e	Flowers Foods, Inc		6,795
	3,818,814	e	Fomento Economico Mexicano S.A. de C.V.		24,826
	802,111		Foster’s Group Ltd		4,098
	206,000	e	Fresh Del Monte Produce, Inc		4,779

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	76,373	e	Fuji Oil Co Ltd	$	1,264
	23,832		Fujicco Co Ltd		319
	150,000	*,e	Fujiya Co Ltd		289
	1,303,881	*,e	Futuris Corp Ltd		360
	2,072,394	e	General Mills, Inc		79,725
	301,200		GFPT PCL		84
	183,692		Glanbia plc		1,095
	2,512,000		Global Bio-Chem Technology Group Co Ltd		445
	1,018,000		Global Sweeteners Holdings Ltd		92
	199,557		Globus Spirits Ltd		453
	3,183,000		GMG Global Ltd		528
	32,446		Gokul Refoils & Solvent Ltd		56
	16,603,074		Golden Agri-Resources Ltd		7,683
	2,652,113	e,m	Goodman Fielder Ltd		1,216
	802,797	e	GrainCorp Ltd		5,512
	463,863		Great Wall Enterprise Co		419
	427,655	*,e	Green Mountain Coffee Roasters, Inc		39,746
	536,154		Greencore Group plc		465
	216,503		Greggs plc		1,549
	47,547		Grieg Seafood ASA		44
	10,494		Griffin Land & Nurseries, Inc (Class A)		269
	1,872,977		Groupe Danone		115,138
	471,500	*	Gruma SAB de C.V.		829
	2,191,028	e	Grupo Bimbo S.A. de C.V. (Series A)		4,169
	186,800		Grupo Herdez SAB de C.V.		329
	1,741,101		Grupo Modelo S.A. (Series C)		9,967
	732,642	e	H.J. Heinz Co		36,984
	158,099	*	Hain Celestial Group, Inc		4,830
	590,953	*	Hansen Natural Corp		51,584
	225,000		Hap Seng Plantations Holdings BHD		172
	94,306	*,e	Harbinger Group, Inc		478
	100,798	*	Harim & Co Ltd		417
	394,835	*,e	Heckmann Corp		2,089
	146,684		Heineken Holding NV		5,661
	69,224		Heineken NV		3,111
	948,001	e	Hershey Co		56,160
	790,000		Hey Song Corp		743
	21,910		Hite Holdings Co Ltd		185
	43,508		HKScan Oyj		268
	24,200		Hokuto Corp		563
	646,428	e	Hormel Foods Corp		17,466
	119,652	e	House Foods Corp		2,302
	250,500		IJM Plantations BHD		194
	264,230		Illovo Sugar Ltd		825
	51,577	e	Imperial Sugar Co		332
	2,486,658		Imperial Tobacco Group plc		83,919
	2,250,333		InBev NV		119,446
	674,978	*,e	Indofood Agri Resources Ltd		626
	4,765,176		IOI Corp BHD		6,885
	4,279,542		ITC Ltd		17,239
	170,900		Ito En Ltd		3,130
	297,000		Itoham Foods, Inc		1,101

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	69,794		J&J Snack Foods Corp	$	3,354
	427,646	e	J.M. Smucker Co		31,171
	4,587	e	Japan Tobacco, Inc		21,456
	932,721		JBS S.A.		1,801
	17,275		Jinro Distillers Co Ltd		165
	75,422		Jinro Ltd		1,604
	243,000		J-Oil Mills, Inc		767
	14,600		JT International BHD		27
	588,125	*	Juhayna Food Industries		452
	16,168	*	Jutrzenka Holding S.A.		11
	95,773	e	Kagome Co Ltd		1,895
	747,976		Karuturi Global Ltd		118
	43,800		Keck Seng Malaysia BHD		51
	432,018	e	Kellogg Co		22,979
	65,168	*	Kernel Holding S.A.		1,197
	48,358		Kerry Group plc (Class A)		1,697
	1,474	*	Kerry Group PLC A		52
	20,200		KEY Coffee, Inc		408
	1,478,000		Khon Kaen Sugar Industry PCL		515
	111,660		Kikkoman Corp		1,276
	812,000		Kingway Brewery Holdings Ltd		216
	804,058		Kirin Brewery Co Ltd		10,517
	127,499		Koninklijke Wessanen NV		570
	1,027		Kook Soon Dang Brewery Co Ltd		7
	6,038,364		Kraft Foods, Inc (Class A)		202,768
	1,028,731		KS Oils Ltd		210
	238,652		KT&G Corp		14,852
	866,773		Kuala Lumpur Kepong BHD		5,695
	2,644,208		Kulim Malaysia BHD		2,760
	310,340		Kwality Dairy India Ltd		1,067
	2,596		KWS Saat AG.		487
	75,935	e	Lancaster Colony Corp		4,633
	186,781	e	Lance, Inc		3,894
	3,440		Laurent-Perrier		345
	40,626		Leroy Seafood Group ASA		569
	342,987		Lien Hwa Industrial Corp		185
	22,994	*,e	Lifeway Foods, Inc		245
	32,674	e	Limoneira Co		467
	153		Lindt & Spruengli AG.		445
	83		Lindt & Spruengli AG. (Reg)		2,867
	2,130,690		Lorillard, Inc		235,867
	1,362		Lotte Chilsung Beverage Co Ltd		1,366
	1,086		Lotte Confectionery Co Ltd		1,395
	1,411		Lotte Samkang Co Ltd		360
	7,627		Maeil Dairy Industry Co Ltd		73
	131,869		Maple Leaf Foods, Inc		1,432
	186,701		Marfrig Alimentos S.A.		609
	220,000		Marudai Food Co Ltd		809
	935,000	e	Maruha Nichiro Holdings, Inc		1,839
	233,614	e	McCormick & Co, Inc		10,784
	47,739		McLeod Russel India Ltd		231
	1,347,857		Mead Johnson Nutrition Co		92,773

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,100		Megmilk Snow Brand Co Ltd	$	1,643
	50,981		MEIJI Holdings Co Ltd		2,419
	11,500		Meito Sangyo Co Ltd		152
	404,000		Mewah International, Inc		131
	43,056	e	Mgp Ingredients, Inc		218
	105,676	*,f	MHP S.A. (GDR) (purchased 1/22/10, cost $1,822)		1,291
	62,100		Mikuni Coca-Cola Bottling Co Ltd		566
	79,600		Minerva S.A.		209
	124,000	e	Mitsui Sugar Co Ltd		526
	357,578	e	Molson Coors Brewing Co (Class B)		14,164
	236,302		Morinaga & Co Ltd		590
	311,000	e	Morinaga Milk Industry Co Ltd		1,379
	95,189	*	Morpol ASA		204
	16,700		Muhak Co Ltd		143
	1,728,489		Multiexport Foods S.A.		432
	29,000		Nagatanien Co Ltd		334
	46,000		Namchow Chemical Industrial Ltd		31
	919		Namyang Dairy Products Co Ltd		601
	49,589	e	National Beverage Corp		752
	1,985		Naturex		131
	4,309,060		Nestle S.A.		237,224
	516,000	e	Nichirei Corp		2,387
	152,000		Nippon Beet Sugar Manufacturing Co Ltd		337
	262,000		Nippon Flour Mills Co Ltd		1,272
	147,594		Nippon Meat Packers, Inc		1,918
	546,166	e	Nippon Suisan Kaisha Ltd		2,065
	156,000	e	Nisshin Oillio Group Ltd		748
	154,408	e	Nisshin Seifun Group, Inc		2,016
	187,324	e	Nissin Food Products Co Ltd		7,537
	7,279		Nong Shim Co Ltd		1,313
	5,256		Nong Shim Holdings Co Ltd		224
	54,176		Nutreco Holding NV		3,383
	161,340	*,e	Omega Protein Corp		1,465
	5,659		Orion Corp		2,474
	75,972		Osem Investments Ltd		1,071
	4,525		Ottogi Corp		493
	1,646,111	e	Pacific Andes International Holdings Ltd		144
	4,697,896	e	PAN Fish ASA		2,047
	21,358	e	Parmalat S.p.A.		45
	7,316,038	e	PepsiCo, Inc		452,863
	1,174,971		Perdigao S.A.		20,109
	16,745	e	Pernod-Ricard S.A.		1,311
	10,367		Pescanova S.A.		328
	212,000		Petra Foods Ltd		284
	354,451	*	PGG Wrightson Ltd		107
	1,400		Philip Morris CR		848
	10,683,703	e	Philip Morris International, Inc		666,450
	207,235	*,e	Pilgrim’s Pride Corp		885
	47,539		Pinar SUT Mamulleri Sanayii AS.		372
	666,497	*	Polski Koncern Miesny Duda S.A.		123
	588,020		PPB Group BHD		3,047
	2,734,901	*	Premier Foods plc		435

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	316,000		Prima Meat Packers Ltd	$	398
	49,263	*,e	Primo Water		278
	1,086,624		PT Astra Agro Lestari Tbk		2,355
	10,318,000		PT Bakrie Sumatera Plantations Tbk		329
	2,478,500		PT Bisi International		278
	3,839,500		PT BW Plantation Tbk		460
	10,994,500		PT Charoen Pokphand Indonesia Tbk		2,955
	1,102,000		PT Gudang Garam Tbk		6,517
	5,984,600		PT Indofood Sukses Makmur Tbk		3,401
	1,268,000		PT Japfa Comfeed Indonesia Tbk		616
	5,692,500		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		1,313
	2,057,500		PT Sampoerna Agro Tbk		672
	139,900		Q.P. Corp		2,031
	852,700		QL Resources BHD		701
	19,517		Radico Khaitan Ltd		49
	200,747		Raisio plc (V Shares)		639
	579,239	*,e	Ralcorp Holdings, Inc		44,433
	793,279		REI Agro Ltd		401
	939,590	e	Remy Cointreau S.A.		64,774
	1,082,427	e	Reynolds American, Inc		40,569
	49,147	e	Robert Wiseman Dairies plc		229
	25,800		Royal UNIBREW AS		1,314
	63,334		Ruchi Soya Industries Ltd		145
	96,514		SABMiller plc		3,149
	2,913		Sajo Industries Co Ltd		118
	42,355		Sakata Seed Corp		654
	7,679		Samyang Corp		514
	3,915		Samyang Genex Co Ltd		193
	89,415	e	Sanderson Farms, Inc		4,247
	49,700		Sao Martinho S.A.		530
	449,000	e	Sapporo Holdings Ltd		1,674
	212,946		Saputo, Inc		8,389
	2,503,760	e	Sara Lee Corp		40,936
	50,904	*,e	Seneca Foods Corp		1,008
	370,100	*	Shanghai Dajiang Group		142
	99,000		Showa Sangyo Co Ltd		321
	915,310		Shree Renuka Sugars Ltd		1,023
	19,890		Silla Co Ltd		213
	12,538		Sipef S.A		969
	97,400		SLC Agricola S.A.		811
	277,643	*,e	Smart Balance, Inc		1,638
	845,772	*	Smithfield Foods, Inc		16,493
	2,626		Societa per la Bonifica dei Terreni Ferraresi e Imprese Agricole S.p.A.		80
	329,002	*,e	SOS Cuetara S.A.		127
	584,955		Souza Cruz S.A.		5,886
	427,128	*,e	Star Scientific, Inc		987
	43,408		Strauss Group Ltd		551
	129,012		Suedzucker AG.		3,665
	370,000		Super Coffeemix Manufacturing Ltd		441
	222,513		Swedish Match AB		7,343
	80,328	*,e	Synutra International, Inc		427

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,540		Taisun Enterprise Co Ltd	$	9
	78,000		Taiyen Biotech Co Ltd		59
	241,000		Takara Holdings, Inc		1,456
	157,149		Tassal Group Ltd		218
	156,384	*	TAT Konserve		241
	1,182		Tata Coffee Ltd		19
	219,809		Tata Tea Ltd		383
	872,842		Tate & Lyle plc		8,463
	416,400		TH Plantations BHD		253
	608,200		Thai Union Frozen Products PCL		1,006
	467,400		Thai Vegetable Oil PCL		262
	216,000		Tianyi Fruit Holdings Ltd		43
	319,660		Tiger Brands Ltd		8,286
	2,584,000	e	Tingyi Cayman Islands Holding Corp		6,334
	139,134		Tongaat Hulett Ltd		1,585
	96,440	e	Tootsie Roll Industries, Inc		2,326
	114,742		Toyo Suisan Kaisha Ltd		3,147
	882,472		Treasury Wine Estates Ltd		3,305
	162,175	*,e	TreeHouse Foods, Inc		10,029
	22,831		Triveni Engineering & Industries Ltd		10
	22,831	*,m	Triveni Turbine Ltd		14
	9,130		TS Corp		176
	458,000	e	Tsingtao Brewery Co Ltd		2,513
	1,661,750	e	Tyson Foods, Inc (Class A)		28,848
	132,973		Ulker Biskuvi Sanayi AS		392
	2,690,571		Unilever NV		85,166
	215,522		Unilever NV (ADR)		6,787
	2,723,417		Unilever plc		85,309
	1,251,000		Uni-President China Holdings Ltd		679
	6,966,617		Uni-President Enterprises Corp		8,936
	5,400		United Malacca BHD		11
	105,137		United Spirits Ltd		1,697
	132,802	e	Universal Corp		4,762
	338,800		Universal Robina		320
	151,000		Ve Wong Corp		101
	194,226	e	Vector Group Ltd		3,337
	6,104	e	Vilmorin & Cie		596
	645,883		Vina Concha Y Toro S.A.		1,156
	69,975		Viscofan S.A.		2,518
	1,058,000		Vitasoy International Holdings Ltd		675
	429,568		Viterra, Inc		4,226
	2,369		Vranken - Pommery Monopole		86
	7,933,000	e	Want Want China Holdings Ltd		7,185
	272,000		Wei Chuan Food Corp		250
	253,243	*	Westway Group, Inc		1,076
	1,103,688	e	Wilmar International Ltd		4,392
	504,000		Xiwang Sugar Holdings Co Ltd		82
	73,592	e	Yakult Honsha Co Ltd		2,296
	306,642	e	Yamazaki Baking Co Ltd		4,650
	320,000		Yantai North Andre Juice Co		10
	2,431,000		YASHILI INTERNATIONAL		356
	23,000		Yonekyu Corp		180
	215,294		Zeder Investments Ltd		64
			TOTAL FOOD, BEVERAGE & TOBACCO		5,320,868

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 3.5%
	96,408	*,e	Abaxis, Inc	$	2,209
	165,647	*,e	Abiomed, Inc		1,827
	161,790	*,e	Accretive Health, Inc		3,435
	265,327	*,e	Accuray, Inc		1,067
	1,985,866		Aetna, Inc		72,186
	237,884	*	AGFA-Gevaert NV		614
	62,626	*	AGFA-Gevaert NV Bruessel		0	^
	127,415	*,e	Air Methods Corp		8,113
	87,658	e	Alfresa Holdings Corp		3,665
	256,993	*,e	Align Technology, Inc		3,899
	46,188	*,e	Alimera Sciences, Inc		370
	106,692	*,e	Alliance Imaging, Inc		122
	337,282	*,e	Allscripts Healthcare Solutions, Inc		6,078
	35,133	*,e	Almost Family, Inc		584
	223,298	*,e	Alphatec Holdings, Inc		471
	139,810	*,e	Amedisys, Inc		2,072
	88,224	*,e	American Dental Partners, Inc		852
	315,957	*	Amerigroup Corp		12,325
	2,455,611	e	AmerisourceBergen Corp		91,520
	213,814		Amil Participacoes S.A.		1,905
	162,244	*,e	AMN Healthcare Services, Inc		651
	101,232	e	Amplifon S.p.A.		496
	155,316	*	Amsurg Corp		3,495
	52,087		Analogic Corp		2,365
	129,803	*	Angiodynamics, Inc		1,706
	251,586	e	Ansell Ltd		3,146
	320,274	*,e	Antares Pharma, Inc		743
	9,182		Apollo Hospitals Enterprise Ltd		97
	44,082		Arseus NV		606
	170,327	*	Arthrocare Corp		4,900
	16,100		As One Corp		338
	78,766		Assisted Living Concepts, Inc (A Shares)		998
	145,163	*,e	athenahealth, Inc		8,644
	66,786	*,e	AtriCure, Inc		650
	6,166	e	Atrion Corp		1,279
	6,887		Audika		148
	61,105		Axis-Shield plc		434
	2,108,200		Bangkok Chain Hospital PCL		426
	309,293	e	Bard (C.R.), Inc		27,076
	3,644,108	e	Baxter International, Inc		204,579
	929,132	e	Becton Dickinson & Co		68,123
	142,680	*,e	Biolase Technology, Inc		428
	97,439	*,e	Bio-Reference Labs, Inc		1,794
	172,130	*,e	BioScrip, Inc		1,095
	2,494,000	*	Biosensors International Group Ltd		2,303
	21,500		BML, Inc		554
	5,989,481	*,e	Boston Scientific Corp		35,398
	171,878	*,e	Brookdale Senior Living, Inc		2,155

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	497,600		Bumrungrad Hospital PCL	$	618
	72,623		Cantel Medical Corp		1,534
	122,022	*	Capital Senior Living Corp		753
	2,798,660	e	Cardinal Health, Inc		117,207
	165,213	*,e	CardioNet, Inc		496
	63,544	*,e	Cardiovascular Systems, Inc		724
	1,226,158	*,e	CareFusion Corp		29,366
	57,187		Carl Zeiss Meditec AG.		1,012
	2,311	*	Carmat		266
	130,259	*,e	Catalyst Health Solutions, Inc		7,515
	130,148	*,e	CBaySystems Holdings Ltd		984
	77,366	e	Celesio AG.		1,018
	273,116	*,e	Centene Corp		7,830
	984,465	*,e	Cerner Corp		67,457
	184,309	*,e	Cerus Corp		391
	22,650	*	CHA Bio & Diostech Co Ltd		243
	128,776		Chemed Corp		7,078
	50,442	*,e	Chindex International, Inc		444
	1,384,447	e	Cigna Corp		58,064
	123,417		CML Healthcare Income Fund		1,107
	57,503	e	Cochlear Ltd		2,549
	11,974		Coloplast AS (Class B)		1,725
	4,360		Coltene Holding AG.		167
	270,918	*,e	Community Health Systems, Inc		4,508
	43,444	e	Compagnie Generale d’Optique Essilor International S.A.		3,124
	73,939	e	Computer Programs & Systems, Inc		4,891
	134,713	*,e	Conceptus, Inc		1,410
	134,846	*,e	Conmed Corp		3,103
	141,744	*,e	Continucare Corp		904
	529,180	e	Cooper Cos, Inc		41,885
	39,362	*	Corvel Corp		1,673
	823,025	*,e	Coventry Health Care, Inc		23,711
	2,140,694	e	Covidien plc		94,404
	26,100		Cremer S.A.		199
	161,809	*,e	Cross Country Healthcare, Inc		676
	158,018	*	CryoLife, Inc		710
	26,930	*	Curexo, Inc		259
	131,345	*,e	Cyberonics, Inc		3,717
	44,218	*,e	Cynosure, Inc (Class A)		446
	968,355	*,e	DaVita, Inc		60,687
	174,957	*,e	Delcath Systems, Inc		584
	648,089	e	Dentsply International, Inc		19,890
	270,130	*	DexCom, Inc		3,242
	366,300		Diagnosticos da America S.A.		3,115
	39,887	e	DiaSorin S.p.A.		1,472
	21,632		Draegerwerk AG.		2,070
	7,412		Draegerwerk AG. & Co KGaA		562
	84,266	*,e	DynaVox, Inc		303
	888,166	*,e	Edwards Lifesciences Corp		63,308
	132,604	e	Elekta AB (B Shares)		4,989
	54,499	*,e	Emdeon, Inc		1,024
	123,726	*,e	Emeritus Corp		1,745

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	253,617	*,e	Endologix, Inc	$	2,546
	67,665	e	Ensign Group, Inc		1,564
	300,737	*,e	EnteroMedics, Inc		517
	26,239	*,e	ePocrates, Inc		236
	37,068	*,e	Exactech, Inc		522
	114,499	*,e	EXamWorks, Inc		1,166
	50,000		Excelsior Medical Co Ltd		87
	2,723,343	*,e	Express Scripts, Inc		100,953
	391,200		Faber Group BHD		164
	693,675	e	Fisher & Paykel Healthcare Corp		1,325
	183,141	*	Five Star Quality Care, Inc		458
	117,607		Fleury S.A.		1,404
	81,549	*	Fortis Healthcare Ltd		209
	326,084		Fresenius Medical Care AG.		22,121
	174,003		Fresenius SE		15,467
	10,444	e	Galenica AG.		5,348
	218,875	*	Gen-Probe, Inc		12,531
	137,750	*	Gentiva Health Services, Inc		760
	177,647		Getinge AB (B Shares)		3,877
	22,928	*	Given Imaging Ltd		355
	279,565	e	GN Store Nord		1,724
	16,660,212	*	Golden Meditech Co Ltd		2,124
	131,044	*,e	Greatbatch, Inc		2,622
	49,400		Green Hospital Supply, Inc		1,220
	130,952	*,e	Haemonetics Corp		7,658
	129,840	*,e	Hanger Orthopedic Group, Inc		2,453
	156,622	*,e	Hansen Medical, Inc		520
	257,200		Hartalega Holdings BHD		440
	373,984	*,e	HCA Holdings, Inc		7,540
	448,027	*,e	Health Management Associates, Inc (Class A)		3,100
	467,514	*,e	Health Net, Inc		11,085
	199,292	m	Healthcare Locums plc		17
	866,548	*,e	Healthsouth Corp		12,938
	486,059	*,e	Healthspring, Inc		17,722
	95,431	*,e	HealthStream, Inc		1,224
	170,863	*,e	Healthways, Inc		1,680
	48,374	*,e	HeartWare International, Inc		3,116
	234,544	*,e	Henry Schein, Inc		14,544
	294,275	e	Hill-Rom Holdings, Inc		8,834
	842,000		Hitachi Medical Corp		9,244
	348,650	*,e	HMS Holdings Corp		8,504
	38,200		Hogy Medical Co Ltd		1,765
	2,087,392	*,e	Hologic, Inc		31,749
	1,342,930	e	Humana, Inc		97,670
	51,729	*,e	ICU Medical, Inc		1,904
	175,091	*,e	Idexx Laboratories, Inc		12,076
	22,284		Immunodiagnostic Systems Holdings plc		358
	185,134	*,e	Insulet Corp		2,825
	99,648	*	Integra LifeSciences Holdings Corp		3,564
	259,822	*	Intuitive Surgical, Inc		94,647
	163,356	e	Invacare Corp		3,764
	243,606	*,e	Inverness Medical Innovations, Inc		4,787

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,315		Ion Beam Applications	$	170
	67,189	*,e	IPC The Hospitalist Co, Inc		2,398
	82,723	*,e	IRIS International, Inc		742
	93,000	e	Jeol Ltd		265
	31,323	*,e	Kensey Nash Corp		767
	243,464	*,e	Kindred Healthcare, Inc		2,099
	184,483	*,e	Kinetic Concepts, Inc		12,156
	58,187	*,e	K-Kitz, Inc		116
	271,100		Kossan Rubber Industries		229
	678,700		KPJ Healthcare BHD		846
	184,500	*,e	Laboratory Corp of America Holdings		14,585
	38,021		Landauer, Inc		1,884
	180,200		Latexx Partners BHD		73
	682	*,e	LCA-Vision, Inc		1
	59,738	*,e	LHC Group, Inc		1,019
	1,018,200		Life Healthcare Group Holdings Pte Ltd		2,432
	90,954	*,e	LifePoint Hospitals, Inc		3,333
	179,040	e	Lincare Holdings, Inc		4,028
	4,475		LVL Medical Groupe S.A.		76
	160,911	*,e	Magellan Health Services, Inc		7,772
	129,414	*,e	MAKO Surgical Corp		4,429
	7,500		Mani, Inc		260
	213,053	e	Masimo Corp		4,613
	1,198,836	e	McKesson Corp		87,154
	188,610	*,e	MedAssets, Inc		1,813
	1,528,178	*	Medco Health Solutions, Inc		71,656
	39,738		Medica		703
	106,291	*,e	Medical Action Industries, Inc		537
	292,328		Mediceo Paltac Holdings Co Ltd		2,961
	85,168	*,e	Medidata Solutions, Inc		1,400
	3,486,038	e	Medtronic, Inc		115,875
	209,234	*,e	Merge Healthcare, Inc		1,274
	170,377	e	Meridian Bioscience, Inc		2,682
	144,693	*,e	Merit Medical Systems, Inc		1,901
	174		Message Co Ltd		604
	178,379	*,e	Metropolitan Health Networks, Inc		810
	185,000		Microlife Corp		275
	719,000		Microport Scientific Corp		375
	3,990,000		Mingyuan Medicare Development Co Ltd		141
	52,978		Miraca Holdings, Inc		2,329
	204,176	*,e	Molina Healthcare, Inc		3,152
	51,926	*,e	MWI Veterinary Supply, Inc		3,574
	23,136		Nagaileben Co Ltd		354
	5,500		Nakanishi, Inc		502
	38,500	e	National Healthcare Corp		1,244
	3,974		National Research Corp		132
	199,646	*,e	Natus Medical, Inc		1,899
	95,011	*	Neogen Corp		3,299
	352,881	*,e	Neoprobe Corp		1,045
	1,225,233	e	Network Healthcare Holdings Ltd		1,982
	116,300		Nichii Gakkan Co		1,315
	59,400		Nihon Kohden Corp		1,600

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	77,767		Nikkiso Co Ltd	$	689
	116,332	e	Nipro Corp		1,095
	166,087		Nobel Biocare Holding AG.		1,667
	163,899	*,e	NuVasive, Inc		2,798
	183,493	*,e	NxStage Medical, Inc		3,828
	148,300		Odontoprev S.A.		2,192
	30,133	e	Olympus Corp		930
	23,078		Omega Pharma S.A.		1,067
	333,090	e	Omnicare, Inc		8,470
	142,825	*,e	Omnicell, Inc		1,968
	119,989		OPG Groep NV		1,813
	106,795		Opto Circuits India Ltd		481
	197,563	*	OraSure Technologies, Inc		1,573
	258,139		Oriola-KD Oyj (B Shares)		582
	30,103	e	Orpea		1,217
	118,440	*	Orthofix International NV		4,087
	9,784	*	Osstem Implant Co Ltd		69
	292,754	e	Owens & Minor, Inc		8,338
	52,264		Pacific Hospital Supply Co Ltd		165
	86,187	*,e	Palomar Medical Technologies, Inc		679
	40,800	m	Paramount Bed Co Ltd		1,122
	357,721	e	Patterson Cos, Inc		10,242
	135,806	*	Pediatrix Medical Group, Inc		8,507
	143,637	*	PharMerica Corp		2,050
	7,471		Phonak Holding AG.		678
	302,000	*	Pihsiang Machinery Manufacturing Co Ltd		358
	1,284,120		Primary Health Care Ltd		3,683
	4,400		Profarma Distribuidora de Produtos Farmaceuticos S.A.		23
	76,366	*,e	Providence Service Corp		813
	448,665	*,e	PSS World Medical, Inc		8,834
	79,175	e	Quality Systems, Inc		7,680
	340,985	e	Quest Diagnostics, Inc		16,831
	113,812	*,e	Quidel Corp		1,863
	128,130	*,e	RadNet, Inc		313
	295,000		Raffles Medical Group Ltd		502
	230,001		Ramsay Health Care Ltd		4,199
	434,816	*,e	Resmed, Inc		12,518
	174,052		Rhoen Klinikum AG.		3,525
	66,872	*,e	Rockwell Medical Technologies, Inc		546
	340,609	*	RTI Biologics, Inc		1,121
	565,000		Ryman Healthcare Ltd		1,090
	19,487		Sartorius AG.		777
	9,502		Sartorius Stedim Biotech		574
	544,342		Selcuk Ecza Deposu Ticaret ve Sanayi AS		504
	193,353	*,e	Select Medical Holdings Corp		1,290
	6,064,000		Shandong Weigao Group Medical Polymer Co Ltd		6,741
	119,978		Shenzhen Accord Pharmaceutical Co Ltd		204
	1,613,071		Sigma Pharmaceuticals Ltd		1,006
	1,524,800		Sinopharm Group Co		4,016
	228,731	*,e	Sirona Dental Systems, Inc		9,700
	82,433	*,e	Skilled Healthcare Group, Inc (Class A)		298
	211,465		Smith & Nephew plc		1,902

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	248,492	*,e	Solta Medical, Inc	$	311
	256	e	So-net M3, Inc		1,274
	403,770	e	Sonic Healthcare Ltd		4,413
	87,852	*,e	SonoSite, Inc		2,665
	342,858	*	Sorin S.p.A.		748
	139,896	*	Spectranetics Corp		999
	1,491,510	e	St. Jude Medical, Inc		53,978
	79,000		St. Shine Optical Co Ltd		964
	144,670	*,e	Staar Surgical Co		1,128
	176,078	*,e	Stereotaxis, Inc		195
	240,353	e	STERIS Corp		7,035
	8,659		Stratec Biomedical Systems AG.		338
	2,498		Straumann Holding AG.		391
	1,171,707	e	Stryker Corp		55,223
	85,332	*,e	Sun Healthcare Group, Inc		230
	234,130	*,e	Sunrise Senior Living, Inc		1,084
	261,800		Supermax Corp BHD		209
	70,718	*,e	SurModics, Inc		644
	61,254	e	Suzuken Co Ltd		1,648
	266,834	*,e	SXC Health Solutions Corp		14,863
	111,462	*	SXC Health Solutions Corp (Toronto)		6,218
	200,165	*,e	Symmetry Medical, Inc		1,545
	104,563	*,e	Synergetics USA, Inc		564
	113,494		Synergy Healthcare plc		1,517
	52,575	*,e	Synovis Life Technologies, Inc		878
	57,286	f	Synthes, Inc 144A (purchased 04/18/11, cost $9,619)		9,271
	49,263		Sysmex Corp		1,772
	137,786		TaiDoc Technology Corp		165
	196,111	*,e	Team Health Holdings, Inc		3,220
	70,683	e	Teleflex, Inc		3,801
	123,700	*	Tempo Participacoes S.A.		230
	1,194,178	*	Tenet Healthcare Corp		4,932
	149,016	e	Terumo Corp		7,755
	165,206	*,e	Thoratec Corp		5,392
	57,100	e	Toho Pharmaceutical Co Ltd		701
	688,600		Top Glove Corp BHD		878
	42,045	*	Tornier BV		862
	34,998	*,e	Transcend Services, Inc		789
	362,000		Trauson Holdings Co Ltd		97
	104,601	*,e	Triple-S Management Corp (Class B)		1,752
	222,177	*,e	Unilife Corp		933
	559,809		United Drug plc		1,714
	7,561,672		UnitedHealth Group, Inc		348,743
	158,291		Universal American Corp		1,592
	385,363	e	Universal Health Services, Inc (Class B)		13,102
	85,474	*,e	Uroplasty, Inc		415
	77,606	e	US Physical Therapy, Inc		1,437
	93,600	*	Vanguard Health Systems, Inc		951
	553,262	*,e	Varian Medical Systems, Inc		28,858
	77,679	*,e	Vascular Solutions, Inc		889
	153,792	*,e	VCA Antech, Inc		2,458
	40,200		VITAL KSK Holdings, Inc		352

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	212,518	*,e	Volcano Corp	$	6,297
	326,786	*,e	WellCare Health Plans, Inc		12,411
	1,872,697	e	WellPoint, Inc		122,249
	133,352	e	West Pharmaceutical Services, Inc		4,947
	3,986	*,e	William Demant Holding		300
	176,990	*,e	Wright Medical Group, Inc		3,165
	29,293	e	Young Innovations, Inc		835
	621,318	*,e	Zimmer Holdings, Inc		33,241
	112,744	*,e	Zoll Medical Corp		4,255
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		3,114,050
HOUSEHOLD & PERSONAL PRODUCTS - 1.7%
	6,124		Able C&C Co Ltd		113
	27,700	*	Aderans Co Ltd		257
	4,025		Amorepacific Corp		4,006
	49,844	*	Atrium Innovations Inc		625
	758,355	e	Avon Products, Inc		14,864
	2,004,000		BaWang International Group Holding Ltd		183
	120,070		Beiersdorf AG.		6,425
	232,373	*,e	Central Garden and Pet Co (Class A)		1,645
	72,320		China King-highway Holdings Lt		158
	723,614		Church & Dwight Co, Inc		31,984
	489,323		Clorox Co		32,457
	1,937,111		Colgate-Palmolive Co		171,783
	338,000		Coslight Technology International Group Ltd		83
	310,000		Dabur India Ltd		648
	138	e	Dr Ci:Labo Co Ltd		891
	138,243	*	Elizabeth Arden, Inc		3,932
	1,821		Emami Ltd		16
	408,866	*,e	Energizer Holdings, Inc		27,165
	862,303		Estee Lauder Cos (Class A)		75,744
	72,500	e	Fancl Corp		1,044
	77,514	e	Female Health Co		316
	158,000		Grape King Industrial Co		239
	975,500	e	Hengan International Group Co Ltd		7,791
	49,854		Henkel KGaA		2,185
	1,318,954		Henkel KGaA (Preference)		70,132
	843,379		Herbalife Ltd		45,205
	1,322,226		Hindustan Lever Ltd		9,176
	375,925		Hypermarcas S.A.		1,767
	13,722		Inter Parfums S.A.		379
	67,099	e	Inter Parfums, Inc		1,037
	791,068		Kao Corp		22,035
	790,325	e	Kimberly-Clark Corp		56,121
	733,079		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		3,769
	37,000	e	Kobayashi Pharmaceutical Co Ltd		1,988
	14,880		Korea Kolmar Co Ltd		69
	41,500	e	Kose Corp		1,057
	13,922		LG Household & Health Care Ltd		6,258
	290,000	e	Lion Corp		1,747
	60,712	e	L’Oreal S.A.		5,923
	388,000	*	Magic Holdings international Ltd		114

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	77,779		Mandom Corp	$	2,315
	249,474	e	Mcbride plc		465
	86,063	*,e	Medifast, Inc		1,390
	239,082		Microbio Co Ltd		229
	12,200	e	Milbon Co Ltd		380
	231,438		Natura Cosmeticos S.A.		3,939
	42,483	*,e	Nature’s Sunshine Products, Inc		598
	6,392	m	Nirma Ltd		33
	30,700		Noevir Holdings Co Ltd		350
	384,259	e	Nu Skin Enterprises, Inc (Class A)		15,570
	59,963	*,e	Nutraceutical International Corp		766
	1,628,000		NVC Lighting Holdings Ltd		625
	21,645	e	Oil-Dri Corp of America		402
	58,742	e	Oriflame Cosmetics S.A.		2,126
	6,442		Pacific Corp		1,259
	20,800		Pigeon Corp		853
	113,900	*	Pola Orbis Holdings, Inc		3,352
	224,294	*	Prestige Brands Holdings, Inc		2,030
	11,018,329		Procter & Gamble Co		696,137
	2,370,000		PT Unilever Indonesia Tbk		4,418
	267,059	e	PZ Cussons plc		1,370
	3,099,374	e	Reckitt Benckiser Group plc		157,039
	46,259	*,e	Revlon, Inc (Class A)		570
	34,430,400		Ruinian International Ltd		13,020
	43,051	e	Schiff Nutrition International, Inc		477
	258,511	e	Shiseido Co Ltd		5,013
	80,427	*	Spectrum Brands, Inc		1,900
	134,601	e	Uni-Charm Corp		6,456
	29,388	*,e	USANA Health Sciences, Inc		808
	1,091,000	e	Vinda International Holdings Ltd		1,088
	103,625	e	WD-40 Co		4,128
	852,000	*	Youyuan International Holdings Ltd		217
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,540,654
INSURANCE - 3.6%
	3,815,373	e	ACE Ltd		231,212
	966,829	e	Admiral Group plc		18,966
	1,315,799	*	Aegon NV		5,333
	3,872,478	e	Aflac, Inc		135,343
	11,147,007		AIA Group Ltd		31,568
	13,511		Aksigorta AS		10
	11,857	*,e	Alleghany Corp		3,421
	800,139		Allianz AG.		74,996
	415,102		Allied World Assurance Co Holdings Ltd		22,295
	2,753,254	e	Allstate Corp		65,225
	88,520	*	Alm Brand AS		112
	270,514	e	American Equity Investment Life Holding Co		2,367
	868,248	e	American Financial Group, Inc		26,976
	686,415	*	American International Group, Inc		15,067
	11,706		American National Insurance Co		811
	76,872	*,e	American Safety Insurance Holdings Ltd		1,414
	76,944	*,e	Amerisafe, Inc		1,417

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	725,262	e	Amlin plc	$	3,187
	3,355,407		AMP Ltd		12,603
	109,302	e	Amtrust Financial Services, Inc		2,433
	257,614		Anadolu Hayat Emeklilik AS		410
	450,254		Anadolu Sigorta		214
	666,951	e	AON Corp		27,999
	36,632		April Group		560
	887,485	*,e	Arch Capital Group Ltd		28,999
	128,307	e	Argo Group International Holdings Ltd		3,640
	193,985	e	Arthur J. Gallagher & Co		5,102
	722,474	e	Aspen Insurance Holdings Ltd		16,646
	637,837		Assicurazioni Generali S.p.A.		10,101
	174,952	e	Assurant, Inc		6,263
	329,003	e	Assured Guaranty Ltd		3,616
	2,678,936		Aviva plc		12,599
	2,873,648		AXA S.A.		37,386
	2,474,933	e	Axis Capital Holdings Ltd		64,200
	73,647		Bajaj Finserv Ltd		785
	34,182	e	Baldwin & Lyons, Inc (Class B)		730
	68,829		Baloise Holding AG.		5,041
	1,276,387		Beazley plc		2,302
	5,624,757	*	Berkshire Hathaway, Inc (Class B)		399,582
	143,200		Brazil Insurance Participco		1,340
	199,967	e	Brown & Brown, Inc		3,559
	9,452,192		Cathay Financial Holding Co Ltd		10,710
	810,232		Catlin Group Ltd		4,692
	104,000		Central Reinsurance Co Ltd		47
	226,601		Chesnara plc		726
	1,191,908	*,e	China Insurance International Holdings Co Ltd		2,273
	11,462,419	e	China Life Insurance Co Ltd		27,113
	5,982,886		China Life Insurance Co Ltd (Taiwan)		5,610
	3,375,800		China Pacific Insurance Group Co Ltd		9,729
	1,362,875		Chubb Corp		81,759
	27,443	*	CIG Pannonia Life Insurance plc		87
	258,720	e	Cincinnati Financial Corp		6,812
	167,534	*,e	Citizens, Inc (Class A)		1,074
	44,988		Clal Insurance		640
	47,581	e	CNA Financial Corp		1,069
	248		CNIA SAADA Assurance		34
	401,780		CNP Assurances		5,916
	1,113,138	*,e	Conseco, Inc		6,022
	2,033,357	e	Corp Mapfre S.A.		6,279
	119,606	e	Crawford & Co (Class B)		641
	3,661		Dai-ichi Mutual Life Insurance Co		3,784
	224,643		Delphi Financial Group, Inc (Class A)		4,834
	125,943		Delta Lloyd NV		1,987
	591,007		Discovery Holdings Ltd		2,891
	32,451		Donegal Group, Inc (Class A)		391
	60,102		Dongbu Insurance Co Ltd		2,591
	95,053	*,e	eHealth, Inc		1,298
	33,283	e	EMC Insurance Group, Inc		612
	170,680		Employers Holdings, Inc		2,178

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	147,857	e	Endurance Specialty Holdings Ltd	$	5,049
	29,237	*	Enstar Group Ltd		2,784
	75,206	e	Erie Indemnity Co (Class A)		5,353
	24,876		Euler Hermes S.A.		1,501
	286,418	e	Everest Re Group Ltd		22,736
	20,542		Fairfax Financial Holdings Ltd		7,876
	29,619		FBD Holdings plc		257
	69,186	e	FBL Financial Group, Inc (Class A)		1,842
	1,013,650	e	Fidelity National Title Group, Inc (Class A)		15,387
	548,790	e	First American Financial Corp		7,025
	324,271	e	Flagstone Reinsurance Holdings Ltd		2,513
	223,352		Fondiaria-Sai S.p.A RSP		265
	388,111	e	Fondiaria-Sai S.p.A.		810
	14,041	*,e	Fortegra Financial Corp		74
	1,892,076		Fortis		3,258
	36,828	*	Fpic Insurance Group, Inc		1,541
	1,395,611	*	Genworth Financial, Inc (Class A)		8,011
	251,746		Gjensidige Forsikring BA		2,599
	443,825		Great-West Lifeco, Inc		8,729
	116,069	*	Greenlight Capital Re Ltd (Class A)		2,407
	57,430		Grupo Catalana Occidente S.A.		942
	173,036	*	Gunes Sigorta		169
	74,870	*,e	Hallmark Financial Services		552
	304,968		Hannover Rueckversicherung AG.		13,788
	78,236	e	Hanover Insurance Group, Inc		2,777
	38,500	*	Hanwha Non-Life Insurance Co Ltd		258
	11,401		Harel Insurance Investments & Finances Ltd		443
	47,617	e	Harleysville Group, Inc		2,803
	2,299,347	e	Hartford Financial Services Group, Inc		37,111
	466,436	e	HCC Insurance Holdings, Inc		12,617
	11,990		Helvetia Holding AG.		3,645
	163,076	*,e	Hilltop Holdings, Inc		1,176
	517,260		Hiscox Ltd		2,960
	240,041		Horace Mann Educators Corp		2,739
	95,480		Hyundai Marine & Fire Insurance Co Ltd		2,341
	29,592	e	Independence Holding Co		215
	126,070		Industrial Alliance Insurance and Financial Services, Inc		3,725
	63,139		Infinity Property & Casualty Corp		3,314
	237,574		ING Canada, Inc		13,043
	2,256,304		Insurance Australia Group Ltd		6,532
	192,228	e	Jardine Lloyd Thompson Group plc		1,882
	18,306	e	Kansas City Life Insurance Co		565
	92,691	e	Kemper Corp		2,221
	320,840		Korea Life Insurance Co Ltd		1,502
	143,030		Korean Reinsurance Co		1,642
	324,767		Lancashire Holdings Ltd		3,485
	21,325,382		Legal & General Group plc		31,850
	161,276		Liberty Holdings Ltd		1,592
	47,850		LIG Insurance Co Ltd		783
	707,383	e	Lincoln National Corp		11,056
	557,208	e	Loews Corp		19,252
	29,280		Lotte Non-Life Insurance Co Ltd		142

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	297,350	e	Maiden Holdings Ltd	$	2,197
	2,086,430		Manulife Financial Corp		23,773
	17,290	*,e	Markel Corp		6,175
	2,823,319	e	Marsh & McLennan Cos, Inc		74,931
	1,369,595		Max Capital Group Ltd		25,981
	269,646	*,e	MBIA, Inc		1,960
	348,707		Meadowbrook Insurance Group, Inc		3,107
	483,776	e	Mediolanum S.p.A.		1,758
	29,995	*	Menorah Mivtachim Holdings Ltd		236
	45,819	e	Mercury General Corp		1,757
	54,755		Meritz Fire & Marine Insurance Co Ltd		486
	5,636,495	e	Metlife, Inc		157,878
	1,726,611		Metropolitan Holdings Ltd		3,631
	352,760		Migdal Insurance Holdings Ltd		451
	2,939,652	e	Milano Assicurazioni S.p.A.		1,321
	1,066,194		Millea Holdings, Inc		27,021
	678,636		Mitsui Sumitomo Insurance Group Holdings, Inc		14,766
	344,026	e	Montpelier Re Holdings Ltd		6,082
	360,122		Muenchener Rueckver AG.		44,726
	251,091	*,e	National Financial Partners Corp		2,747
	37,320	e	National Interstate Corp		820
	10,558	e	National Western Life Insurance Co (Class A)		1,431
	60,491	*,e	Navigators Group, Inc		2,613
	383,123		NKSJ Holdings, Inc		8,505
	4,414,311	e	Old Mutual plc		7,163
	391,560	e	Old Republic International Corp		3,493
	86,777	e	OneBeacon Insurance Group Ltd (Class A)		1,184
	617,890	e	PartnerRe Ltd		32,297
	461,019	*,e	Phoenix Cos, Inc		562
	79,180		Phoenix Holdings Ltd		184
	6,089,000		PICC Property & Casualty Co Ltd		6,511
	2,521,000		Ping An Insurance Group Co of China Ltd		14,096
	151,709	e	Platinum Underwriters Holdings Ltd		4,665
	230,831		Porto Seguro S.A.		2,148
	429,933		Power Corp Of Canada		9,424
	402,102		Power Financial Corp		9,846
	107,940		Powszechny Zaklad Ubezpieczen S.A.		10,173
	358,796	*,e	Premafin Finanziaria S.p.A.		132
	100,354	e	Presidential Life Corp		825
	136,712	e	Primerica, Inc		2,948
	1,331,992	e	Principal Financial Group		30,196
	132,806	e	ProAssurance Corp		9,565
	1,150,911	e	Progressive Corp		20,440
	153,663	e	Protective Life Corp		2,402
	5,213,154		Prudential Financial, Inc		244,288
	5,366,729		Prudential plc		46,090
	83,418,500	*	PT Panin Life Tbk		1,014
	1,792,908		QBE Insurance Group Ltd		22,017
	243,912	e	Reinsurance Group of America, Inc (Class A)		11,208
	714,892	e	RenaissanceRe Holdings Ltd		45,610
	4,405,887		Resolution Ltd		16,883
	73,377	e	RLI Corp		4,665

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,136,356		RMI Holdings	$	1,760
	2,640,739		Royal & Sun Alliance Insurance Group plc		4,545
	50,607		Safety Insurance Group, Inc		1,914
	312,850		Sampo Oyj (A Shares)		7,858
	52,199		Samsung Fire & Marine Insurance Co Ltd		9,467
	69,179		Samsung Life Insurance Co Ltd		5,267
	3,415,383		Sanlam Ltd		11,408
	31,884		Santam Ltd		545
	16,906		Schweizerische National-Versicherungs-Gesellschaft		568
	620,947		SCOR		13,394
	98,051	e	SeaBright Insurance Holdings, Inc		706
	284,835	e	Selective Insurance Group, Inc		3,717
	8,820,473	*	Shin Kong Financial Holding Co Ltd		2,584
	265,000		Shinkong Insurance Co Ltd		152
	53,316	e	Societa Cattolica di Assicurazioni SCRL		1,149
	491,807	e	Sony Financial Holdings, Inc		7,509
	268,806	e	St. James’s Place plc		1,289
	80,017	e	Stancorp Financial Group, Inc		2,206
	1,769,731	e	Standard Life plc		5,477
	86,126	e	State Auto Financial Corp		1,133
	71,567	e	Stewart Information Services Corp		633
	635,550	e	Storebrand ASA		3,199
	165,100		Sul America SA		1,405
	1,272,998		Sun Life Financial, Inc		30,407
	4,206,075	e	Suncorp-Metway Ltd		32,024
	48,406		Swiss Life Holding		5,309
	1,007,186		Swiss Re Ltd		47,248
	304,056		Symetra Financial Corp		2,478
	132,982		T&D Holdings, Inc		1,253
	503,000		Taiwan Fire & Marine Insurance Co		361
	1,164,000		Taiwan Life Insurance Co Ltd		863
	79,020		Tong Yang Life Insurance		890
	16,901	*	Topdanmark AS		2,645
	518,713	e	Torchmark Corp		18,082
	183,908	e	Tower Group, Inc		4,204
	256,704		Tower Ltd		270
	109,824		Transatlantic Holdings, Inc		5,329
	746,021	e	Travelers Cos, Inc		36,354
	36,496	e	TrygVesta AS		1,919
	1,349,909	e	Unipol Gruppo Finanziario S.p.A.		570
	1,821,299		Unipol S.p.A.		546
	58,769	*,e	United America Indemnity Ltd		1,004
	101,682		United Fire & Casualty Co		1,799
	181,320	e	Universal Insurance Holdings, Inc		698
	1,391,436	e	UnumProvident Corp		29,164
	1,258,554	e	Validus Holdings Ltd		31,363
	61,412		Vittoria Assicurazioni S.p.A.		237
	398,451	e	W.R. Berkley Corp		11,830
	12,080		White Mountains Insurance Group Ltd		4,901
	53,731	e	Wiener Staedtische Allgemeine Versicherung AG.		2,043
	2,489,716	e	XL Capital Ltd		46,807
	38,080		Yapi Kredi Sigorta AS		263
	145,575		Zurich Financial Services AG.		30,324
			TOTAL INSURANCE		3,178,220

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
MATERIALS - 6.3%
	164,863	e	A. Schulman, Inc	$	2,801
	15,467	e	Acerinox S.A.		174
	488,925		ACHEM Technology Corp		197
	270,000		Achilles Corp		405
	122,298		Adana Cimento		267
	139,600		ADEKA Corp		1,496
	1,237,886		Adelaide Brighton Ltd		3,121
	4,898		Adhunik Metaliks Ltd		5
	443,785	e	Aditya Birla Minerals Ltd		361
	29,781	*,e	Advanced Metallurgical Group NV		297
	47,153	*	Advansa Sasa Polyester Sanayi AS		38
	129,955		Aeci Ltd		1,191
	10,195	m	Aekyung Petrochemical Co Ltd		226
	24,530	*,e	AEP Industries, Inc		545
	170,297		African Barrick Gold Ltd		1,329
	307,658	*,e	African Minerals Ltd		1,831
	117,759		African Oxygen Ltd		246
	154,857		African Rainbow Minerals Ltd		3,311
	89		Afyon Cimento Sanayi TAS		5
	177,101		Agnico-Eagle Mines Ltd		10,588
	223,643		Agrium, Inc (Toronto)		14,886
	241,000	e	Aichi Steel Corp		1,430
	158,310		Air Liquide		18,487
	527,632	e	Air Products & Chemicals, Inc		40,295
	103,311	e	Air Water, Inc		1,277
	293,385	e	Airgas, Inc		18,724
	196,825	e	AK Steel Holding Corp		1,287
	117,826		Akcansa Cimento AS		435
	225,150		Akzo Nobel NV		9,935
	257,870		Alamos Gold, Inc		3,876
	244,617	e	Albemarle Corp		9,883
	23,678	*	Alchemia S.A.		41
	1,855,120	e	Alcoa, Inc		17,753
	252,675	*	Alkane Resources Ltd		268
	187,421		Allegheny Technologies, Inc		6,933
	252,851	*,e	Allied Nevada Gold Corp		9,055
	174,690		Altri SGPS S.A.		265
	529,545		Alumina Ltd		738
	6,294,000	e	Aluminum Corp of China Ltd		2,681
	915,987		Ambuja Cements Ltd		2,773
	101,053	e	AMCOL International Corp		2,424
	1,239,759		Amcor Ltd		8,208
	110,928	e	American Vanguard Corp		1,238
	192,075	*	Ampella Mining Ltd		349
	2,941,000		AMVIG Holdings Ltd		1,658
	264,482		Anadolu Cam Sanayii AS		451
	299,500	*	Anatolia Minerals Development Ltd		2,924
	2,042,720	e	Angang New Steel Co Ltd		1,064

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,606		Anglo American plc	$	392
	1,481,947		Anglo American plc (London)		50,995
	130,514	e	Anglo Platinum Ltd		8,904
	704,767		AngloGold Ashanti Ltd		29,219
	2,465,304	e	Anhui Conch Cement Co Ltd		6,696
	158,000		ANN JOO Resources BHD		97
	1,636,895	e	Antofagasta plc		23,373
	138,730	*	Anvil Mining Ltd		1,014
	58,000	*	APERAM		839
	118,606	e	Aptargroup, Inc		5,298
	621,585		Aquarius Platinum Ltd		1,744
	347,782	*	Arafura Resources Ltd		187
	206,953		ArcelorMittal		3,306
	103,438	e	Arch Chemicals, Inc		4,853
	525,378	e	Arkema		30,424
	2,563,352	e	Asahi Kasei Corp		15,363
	94,000		Asahi Organic Chemicals Industry Co Ltd		262
	1,610,870	e	Ashland, Inc		71,104
	1,644,000		Asia Cement China Holdings Corp		649
	5,250		Asia Cement Co Ltd		155
	2,614,923		Asia Cement Corp		2,691
	203,750		Asia Polymer		249
	34,415		Asian Paints Ltd		2,215
	251,681	*	Aspire Mining Ltd		107
	105,100		Associated Cement Co Ltd		2,348
	926,820	*	Aston Resources Pty Ltd		8,836
	677,200	*	Atlas Consolidated Mining & Development		244
	883,386		Atlas Iron Ltd		2,372
	200,200	*	Augusta Resource Corp		592
	186,194	*	Aura Minerals, Inc		208
	17,276		Auriga Industries (Class B)		229
	221,111	*	Aurizon Mines Ltd		1,129
	125,200	*	Avalon Rare Metals, Inc		331
	1,259,000	*	Avion Gold Corp		2,415
	231,192		Avocet Mining plc		819
	406,139		AZ Electronic Materials S.A.		1,400
	768,735	*	B2Gold Corp		2,861
	439		Bagfas Bandirma Gubre Fabrik		40
	117,915		Balchem Corp		4,399
	715,854	e	Ball Corp		22,206
	264,598		Ballarpur Industries Ltd		141
	243,100	*	Banro Corp		956
	1,421,320		Barrick Gold Corp		66,306
	2,138,989		Barrick Gold Corp (Canada)		100,245
	1,099,527		BASF AG.		67,033
	2,138		BASF India Ltd		26
	759,728	*	Bathurst Resources Ltd		455
	59,397		Baticim Bati Anadolu Cimento Sanayii AS		216
	3,866		Bayer CropScience Ltd		65
	2,021,500		BBMG Corp		1,491
	751,278	*	Beadell Resources Ltd		518
	184,605	e	Bemis Co, Inc		5,411

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,541		Berger Paints India Ltd	$	84
	4,024,525	e	BHP Billiton Ltd		133,255
	2,416,399		BHP Billiton plc		64,552
	2,262,575		Bhushan Steel Ltd		15,281
	254,170		Billerud AB		1,705
	1,933		Birla Corp Ltd		13
	181,177	e	BlueScope Steel Ltd		125
	1,630	*	BNG Steel Co Ltd		17
	427,576		Boise, Inc		2,211
	968,529	e	Boliden AB		9,960
	287,103		Bolu Cimento Sanayii		210
	513,014	e	Boral Ltd		1,707
	10,943		Borusan Mannesmann Boru Sanayi		139
	3,604,759	*	Boryszew S.A.		470
	383,093		Bradespar S.A.		6,742
	395,528		Braskem S.A.		3,067
	1,400	e	Braskem S.A. (ADR)		22
	57,896	*	Brockman Resources Ltd		107
	100,206	*,e	Brush Engineered Materials, Inc		2,273
	588,691	e	Buckeye Technologies, Inc		14,193
	136,550		Bursa Cimento		329
	102,997		Buzzi Unicem S.p.A.		832
	94,636		Buzzi Unicem S.p.A. RSP		433
	7,600		C Uyemura & Co Ltd		275
	310,567	e	Cabot Corp		7,696
	517,960	*,e	Calgon Carbon Corp		7,547
	252,168	*	Canfor Corp		2,517
	87,700		CANFOR PULP PRODUCTS		1,042
	121,430		CAP S.A.		3,739
	29,150		Capro Corp		599
	673,911	*	Capstone Mining Corp		1,556
	177,710	e	Carpenter Technology Corp		7,977
	93,652		Cascades, Inc		349
	85,023	*,e	Castle (A.M.) & Co		930
	48,681		CCL Industries		1,298
	1,160,318	e	Celanese Corp (Series A)		37,745
	81,180		Cementir S.p.A.		174
	575,952		Cementos Argos S.A.		3,253
	128,282		Cementos Lima SAA		97
	15,268	e	Cementos Portland Valderrivas S.A.		214
	23,924,535	*,e	Cemex S.A. de C.V.		7,659
	1,353,317	*	Centamin Egypt Ltd		1,971
	413,030		Centerra Gold, Inc		7,690
	259,509	*,e	Century Aluminum Co		2,320
	126,437		Century Textile & Industries Ltd		786
	652,324		CF Industries Holdings, Inc		80,490
	401,166		Chambal Fertilizers & Chemicals Ltd		764
	27,164	e	Chase Corp		292
	70,367		Cheil Industries, Inc		4,878
	386,669	*	Chemtura		3,878
	1,704,560		Cheng Loong Corp		651
	1,013,520		Chia Hsin Cement Corp		500

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	710,000		Chiho-Tiande Group Ltd	$	370
	10,068,000	e	China BlueChemical Ltd		7,693
	198,000	m	China Forestry Holdings Ltd		75
	59,000		China General Plastics Corp		17
	794,000		China Glass Holdings Ltd		90
	100,000		China Glaze Co Ltd		49
	10,798,000	*,e,m	China Grand Forestry Resources Group Ltd		198
	194,000		China Hi-ment Corp		248
	670,000	*	China Manmade Fibers Corp		218
	354,240		China Metal Products		259
	13,416,400		China Metal Recycling Holdings Ltd		11,520
	4,994,000	*	China Mining Resources Group Ltd		75
	1,643,000		China Molybdenum Co Ltd		686
	6,455,722	e	China National Building Material Co Ltd		5,440
	646,000		China Nickel Resources Holding Co Ltd		52
	3,747,500		China Petrochemical Development Corp		4,004
	1,488,000	*	China Precious Metal Resources Holdings Co Ltd		289
	896,000	*	China Rare Earth Holdings Ltd		165
	3,812,000		China Resources Cement Holdings Ltd		2,510
	1,131,000		China Sanjiang Fine Chemicals		298
	3,653,000		China Shanshui Cement Group Ltd		2,473
	193,000		China Steel Chemical Corp		801
	13,856,550		China Steel Corp		13,470
	992,000		China Sunshine Paper Holdings Co Ltd		160
	937,000		China Synthetic Rubber Corp		733
	6,700,000	*	China Timber Resources Group Ltd		267
	663,000		China Vanadium Titano-Magnetite Mining Co Ltd		104
	568,000		China XLX Fertiliser Ltd		115
	6,240,600		China Zhongwang Holdings Ltd		2,141
	496,000	*	Chongqing Iron & Steel Co Ltd		71
	985,179		Christian Hansen Holding		20,406
	1,495,000		Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd		233
	111,000		Chuetsu Pulp & Paper Co Ltd		177
	77,000		Chugoku Marine Paints Ltd		562
	1,083,910		Chun Yuan Steel		434
	1,344,720		Chung Hung Steel Corp		457
	169,950		Chung Hwa Pulp Corp		57
	356,143		Cia de Minas Buenaventura S.A. (ADR) (Series B)		13,441
	463,786	*	Cia Minera Atacocha S.A.		166
	214,200		Cia Minera Autlan SAB de C.V.		231
	894,836		Cia Siderurgica Nacional S.A.		7,024
	62,623	*	Ciech S.A.		252
	15,889		Ciments Francais S.A.		1,320
	38,011	e	Cimpor Cimentos de Portugal S.A.		254
	126,348		Cimsa Cimento Sanayi Ve Tica		509
	973,000	*	Citic Dameng Holdings		122
	2,438,187	*,e	Clariant AG.		22,029
	2,984		Clariant Chemicals India Ltd		44
	112,838	*	Clearwater Paper Corp		3,834
	1,265,134		Cleveland-Cliffs, Inc		64,737
	198,500	*	Cline Mining Corp		214

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	551,367	*	Coal of Africa Ltd	$	434
	463,633	*,e	Coeur d’Alene Mines Corp		9,940
	128,700	*	Colossus Minerals, Inc		687
	205,779	e	Commercial Metals Co		1,957
	86,132	*	Companhia Vale do Rio Doce		0	^
	151,600		Companhia Vale do Rio Doce (ADR)		3,456
	29,488		Compania de Minas Buenaventura S.A.		1,111
	99,778	e	Compass Minerals International, Inc		6,663
	212,966		Confab Industrial S.A.		575
	129,100	*	Copper Mountain Mining Corp		510
	39,908		Coromandel International Ltd		247
	292,148		Corp Aceros Arequipa S.A.		218
	146,300	*	Corp Durango SAB de C.V.		64
	748,000		CPMC Holdings Ltd		261
	243,213		CRH plc		3,759
	7,466		CRH plc (Ireland)		116
	721,085		Croda International plc		18,394
	169,300	*	Cronus Resources Ltd		1,073
	1,262,095	*	Crown Holdings, Inc		38,632
	374,600		CSC Steel Holdings BHD		145
	1,859,780		CSG Holding Co Ltd		1,683
	25,040,000	*	CST Mining Group Ltd		316
	140,972	*	Cudeco Ltd		462
	1,505,935	e	Cytec Industries, Inc		52,919
	314,000	*	Da Ming International Holdings Ltd		55
	32,950		Daehan Steel Co Ltd		155
	293,000		Dai Nippon Toryo Co Ltd		315
	793,309		Daicel Chemical Industries Ltd		4,516
	713,626		Daido Steel Co Ltd		4,268
	91,000		Daiken Corp		307
	151,857		Dainichiseika Color & Chemicals Manufacturing Co Ltd		780
	986,845	e	Dainippon Ink and Chemicals, Inc		1,793
	107,872	e	Daio Paper Corp		1,002
	90,000		Daiso Co Ltd		304
	290,900	*	Danhua Chemical Technology Co Ltd		266
	21,685		DC Chemical Co Ltd		3,702
	8,695		Deepak Fertilizers & Petrochemicals Corp Ltd		29
	44,839	e	Deltic Timber Corp		2,676
	635,405		Denki Kagaku Kogyo KK		2,423
	198,215	*	Detour Gold Corp		5,164
	498,515	*	Discovery Metals Ltd		623
	436,371		Domtar Corp		29,747
	9,110	*	Dongbu HiTek Co Ltd		52
	23,360		Dongbu Steel Co Ltd		118
	5,478		Dongil Industries Co Ltd		261
	67,414		Dongjin Semichem Co Ltd		195
	85,948		Dongkuk Industries Co Ltd		225
	44,270		Dongkuk Steel Mill Co Ltd		824
	2,050,000		Dongyue Group		1,014
	6,191,697	e	Dow Chemical Co		139,065
	312,000	e	Dowa Holdings Co Ltd		1,736
	531,429		DRDGOLD Ltd		279

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,066,856	e	DS Smith plc	$	2,889
	397,108		DSM NV		17,266
	4,200,795	e	Du Pont (E.I.) de Nemours & Co		167,905
	501,860		DuluxGroup Ltd		1,209
	138,400	*	Dundee Precious Metals, Inc		1,079
	423,900		Dynasty Ceramic PCL		693
	231,823	e	Eagle Materials, Inc		3,860
	24,600	e	Earth Chemical Co Ltd		917
	1,447,185	*	Eastern Platinum Ltd		967
	475,124		Eastman Chemical Co		32,560
	101,421	*	Eco Oro Minerals Corp		179
	853,944	e	Ecolab, Inc		41,749
	170,000	*	EFUN Technologies Co Ltd		115
	1,045		EG Corp		20
	2,735	*	Egyptian Financial & Industrial Co		4
	8,574		EID Parry India Ltd		39
	447,802	*	El Ezz Steel Co		443
	576,573		Eldorado Gold Corp		9,931
	787,306		Elementis plc		1,507
	2,069,330		Empresas CMPC S.A.		7,029
	10,760	*	EMS-Chemie Holding AG.		1,861
	245,000	*	Endeavour Silver Corp		2,207
	3,193		Eramet		441
	146,673	*	Ercros S.A.		157
	764,646		Eregli Demir ve Celik Fabrikalari TAS		1,329
	972,994		Eternal Chemical Co Ltd		739
	81,100		Eternit S.A.		349
	41,223	*	Eugene Corp		82
	1,524,496		Eurasian Natural Resources Corp		13,511
	164,098	*	European Goldfields Ltd		1,301
	655,700		Evergreen Fibreboard BHD		189
	543,400		Everlight Chemical Industrial Corp		283
	21,151	*,f	Evraz Group S.A. (GDR) (purchased 03/01/11, cost $728)		329
	37,413	*	Evraz Highveld Steel and Vanadium Ltd		185
	96,100	*	Exeter Newco		562
	112,100	*	Exeter Resource Corp		411
	1,284,050		Feng Hsin Iron & Steel Co		2,174
	74,400		Ferbasa-Ferro Ligas DA Bahia		392
	602,457		Ferrexpo plc		2,459
	1,403,010	*,e	Ferro Corp		8,629
	128,972		Fertilizantes Fosfatados S.A.		1,668
	44,100	*	Fertilizantes Heringer S.A.		216
	239,259		Fibria Celulose S.A.		1,820
	31,100		Fibria Celulose S.A. (ADR)		235
	1,566,494		Filtrona plc		8,465
	21,015		Finolex Industries Ltd		27
	234,000	*	First Majestic Silver Corp		3,571
	869,089		First Quantum Minerals Ltd		11,570
	1,484,561	e	Fletcher Building Ltd		8,683
	197,887	*,e	Flotek Industries, Inc		924
	266,661	e	FMC Corp		18,442
	28,690	*	Foosung Co Ltd		172

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,870,733		Formosa Chemicals & Fibre Corp	$	15,086
	8,286,091		Formosa Plastics Corp		21,843
	405,000		Formosan Rubber Group, Inc		275
	873,120		Formosan Union Chemical		496
	5,979,821	e	Fortescue Metals Group Ltd		24,978
	13,900	*	Fortress Paper Ltd		443
	164,400	*	Fortuna Silver Mines, Inc		816
	4,233,200		Fosun International		2,137
	19,800	e	FP Corp		1,408
	130,548		Franco-Nevada Corp		4,723
	5,414,952	e	Freeport-McMoRan Copper & Gold, Inc (Class B)		164,886
	1,269,958		Fresnillo plc		31,047
	378,000	*	Froch Enterprise Co Ltd		162
	61,952		Frutarom Industries Ltd		531
	22,154		Fuchs Petrolub AG.		880
	52,073		Fuchs Petrolub AG. (Preference)		2,131
	1,591,000		Fufeng Group Ltd		630
	22,452		Fuji Seal International, Inc		438
	18,700	e	Fujimi, Inc		222
	259,000		Furukawa-Sky Aluminum Corp		731
	5,083,800		Fushan International Energy Group Ltd		1,697
	78,446	e	FutureFuel Corp		816
	10,974,800	*	G J Steel PCL		60
	5,146,900	*	G Steel PCL		66
	280,470	*	Gabriel Resources Ltd		1,555
	229,672	*	Gammon Gold, Inc		2,168
	148,413	*	Gem Diamonds Ltd		481
	260,749	*,e	General Moly, Inc		756
	1,128,541	*,e	Georgia Gulf Corp		15,608
	1,049,102		Gerdau S.A. Preference		7,449
	997,589	*,e	Gindalbie Metals Ltd		453
	26,978		Givaudan S.A.		21,040
	265,566	e	Glatfelter		3,508
	477,200	*	Gleichen Resources Ltd		592
	426,472		Glencore International AG.		2,679
	270,196	e	Globe Specialty Metals, Inc		3,923
	64,844	*	Gloria Material Technology Corp		46
	230,000	e	Godo Steel Ltd		520
	66,369		Godrej Industries Ltd		264
	944,496		Gold Fields Ltd		14,467
	113,556	e	Gold Resource Corp		1,891
	1,028,106		Goldcorp, Inc		47,162
	21,150	*	Golden Minerals Co		156
	74,260	*,e	Golden Minerals Co		552
	1,223,902	*,e	Golden Star Resources Ltd		2,276
	363,238	*	Golden Star Resources Ltd (Toronto)		683
	4,506,418		Goldsun Development & Construction Co Ltd		1,758
	348		Goltas Cimento		10
	733,000		Grand Pacific Petrochemical		302
	134,200	*	Grande Cache Coal Corp		533
	326,968		Grange Resources Ltd		123
	647,671	*	Graphic Packaging Holding Co		2,234

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,892		Grasim Industries Ltd	$	233
	605,755	*	Great Basin Gold Ltd		1,023
	148,000		Great China Metal Industry		148
	197,748	*,b,e	Great Southern Ltd		0	^
	502,000	*	Greatview Aseptic Packaging Co		147
	66,354	e	Greif, Inc (Class A)		2,846
	21,372,543	*	G-Resources Group Ltd		1,030
	427,255		Grupo Empresarial Ence S.A.		1,097
	4,812,080	e	Grupo Mexico S.A. de C.V. (Series B)		11,405
	158,400	*	Grupo Simec SAB de C.V.		320
	341,652	*	Gryphon Minerals Ltd		426
	26,092	*	Gubre Fabrikalari TAS		169
	36,919		Gujarat Flourochemicals		403
	84,471		Gujarat Mineral Development Corp Ltd		290
	24,544		Gujarat Narmada Valley Fertilizers Co Ltd		44
	381,660		Gujarat NRE Coke Ltd		187
	31,309		Gujarat State Fertilisers & Chemicals Ltd		282
	72,000		Gun-Ei Chemical Industry Co Ltd		210
	1,116,712	*,e	Gunns Ltd		157
	1,584	*	Gunns Ltd (Forest)		54
	433		Gurit Holding AG.		188
	105,742	*	Guyana Goldfields, Inc		793
	16,372		H&R WASAG AG.		325
	307,967	e	H.B. Fuller Co		5,611
	2,488	*	Hadera Paper Ltd		99
	11,600		Han Kuk Carbon Co Ltd		41
	92,338	*	Hanfeng Evergreen, Inc		185
	9,860		Hanil Cement Manufacturing		349
	37,598		Hanjin P&C Co Ltd		184
	320		Hankuk Paper Manufacturing Co Ltd		5
	12,080		Hansol Chemical Co Ltd		146
	23,750		Hansol Paper Co		149
	131,898		Hanwha Chemical Corp		2,811
	79,367		Hanwha Corp		2,218
	509,027	e	Harmony Gold Mining Co Ltd		5,956
	120,924	*	Harry Winston Diamond Corp		1,230
	37,459	e	Hawkins, Inc		1,193
	66,487	e	Haynes International, Inc		2,889
	313,585	*,e	Headwaters, Inc		452
	1,500,225	*,e	Hecla Mining Co		8,041
	11,756		HeidelbergCement AG.		427
	10,260	*	HeidelbergCement India Ltd		7
	2,049,000	e	Hidili Industry International Development Ltd		595
	534,900	*	High River Gold Mines Ltd		674
	165,914		Highland Gold Mining Ltd		414
	103,174		Hill & Smith Holdings plc		396
	1,410,102		Hindalco Industries Ltd		3,755
	159,791		Hitachi Chemical Co Ltd		2,638
	20,329	e	Hitachi Metals Ltd		234
	325,920	*	Ho Tung Chemical Corp		164
	400,616		Hochschild Mining plc		2,534
	61,345		Hoganas AB (Class B)		1,630

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	394,429	e	Hokuetsu Paper Mills Ltd	$	2,833
	129,644		Holcim Ltd		6,880
	36,608		Holmen AB (B Shares)		909
	28,298		Honam Petrochemical Corp		6,791
	187,176	*,e	Horsehead Holding Corp		1,389
	49,000		Hsin Kuang Steel Co Ltd		37
	2,863,000	e	Huabao International Holdings Ltd		2,330
	615,800	*	Hubei Sanonda Co Ltd		208
	38,250		Huchems Fine Chemical Corp		735
	259,492		HudBay Minerals, Inc		2,419
	109,046		Huhtamaki Oyj		1,140
	25,701	*	Hulamin Ltd		24
	1,556,000	*	Hunan Non-Ferrous Metal Ltd		364
	4,683,750	e	Huntsman Corp		45,292
	31,937		Hyosung Corp		1,471
	46,209		Hyundai Hysco		1,778
	107,547		Hyundai Steel Co		7,829
	426,097		IAMGOLD Corp		8,470
	359,500	e	Iluka Resources Ltd		4,208
	254,183		Imdex Ltd		396
	71,922	e	Imerys S.A.		3,598
	721,761		Impala Platinum Holdings Ltd		14,584
	47,700	*	Imperial Metals Corp		872
	350,940		Impexmetal S.A.		373
	1,972,059		Incitec Pivot Ltd		6,110
	252,595	e	Independence Group NL		1,037
	114,310		India Cements Ltd		168
	816,810	*	Indophil Resources NL		247
	3,876,078		Indorama Ventures PCL (Foreign)		3,429
	159,600	*	Industrias CH SAB de C.V.		452
	188,815		Industrias Penoles S.A. de C.V.		6,964
	62,618		Inmet Mining Corp		2,653
	132,736		Innophos Holdings, Inc		5,292
	97,313	*	Innospec, Inc		2,356
	994,363	*	Integra Mining Ltd		448
	139,912	e	International Flavors & Fragrances, Inc		7,866
	1,842,327	e	International Paper Co		42,834
	93,505	*	International Tower Hill Mines Ltd		476
	536,118	*	Intrepid Mines Ltd		471
	91,783	*,e	Intrepid Potash, Inc		2,283
	395,443		Inversiones Argos S.A.		3,565
	1,354,000	*	IRC Ltd		168
	441,000	*,e	Ishihara Sangyo Kaisha Ltd		531
	1,209,939	*	Ispat Industries Ltd		321
	618,059		Israel Chemicals Ltd		7,039
	3,020		Israel Corp Ltd		1,934
	14,880		ISU Chemical Co Ltd		287
	180,093	e	Italcementi S.p.A.		1,076
	246,158		Italcementi S.p.A. RNC		712
	8,046	e	Italmobiliare S.p.A.		214
	31,004		Italmobiliare S.p.A. RSP		536
	223,213	*	Ivanhoe Australia Ltd		205

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	275,608	*	Ivanhoe Mines Ltd	$	3,800
	34,318	*	Izmir Demir Celik Sanayi AS		69
	723,235	*,e	Jaguar Mining, Inc		3,399
	198,300	*	Jaguar Mining, Inc (Toronto)		927
	200,618		JAI Corp Ltd		321
	306,242	*,e	James Hardie Industries NV		1,675
	372,698	*	Jastrzebska Spolka Weglowa S.A.		9,565
	83,345		JFE Holdings, Inc		1,682
	2,329,000	e	Jiangxi Copper Co Ltd		4,041
	1,098,000	*	Jinchuan Group International Resources Co Ltd		271
	76,153		Jindal Poly Films Ltd		317
	60,322		Jindal Saw Ltd		167
	17,670	*	Jindal South West Holdings Ltd		196
	597,244		Jindal Steel & Power Ltd		6,134
	218,000	*	Jinshan Gold Mines, Inc		597
	33,936		Johnson Matthey plc		832
	9,009	*	JSL Ltd		18
	13,900		JSP Corp		241
	296,627	e	JSR Corp		5,104
	119,233		JSW Steel Ltd		1,435
	398,992	*	Jupiter Mines Ltd		104
	165,282		K&S AG.		8,652
	587,955	*,e	Kagara Zinc Ltd		221
	63,260	e	Kaiser Aluminum Corp		2,801
	176,513	*	Kalahari Minerals plc		588
	250,811		Kaneka Corp		1,419
	301,837	e	Kansai Paint Co Ltd		2,892
	56,000		Kanto Denka Kogyo Co Ltd		273
	191,988	*,e	Kapstone Paper and Packaging Corp		2,667
	12,637	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class A)		8
	42,920	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		19
	384		Kartonsan Karton Sanayi		40
	43,632		Kazakhmys plc		533
	100,500	*	Keegan Resources, Inc		506
	161,229	e	Kemira Oyj		1,770
	13,651		Kemrock Industries & Exports Ltd		144
	739,620		KGHM Polska Miedz S.A.		28,961
	734,400		Kian JOO CAN Factory BHD		410
	178,091	e	Kingsgate Consolidated Ltd		1,231
	205,539	*	Kingsrose Mining Ltd		242
	1,361,520		Kinross Gold Corp		20,230
	1,038,500		Kinsteel BHD		158
	79,538	*	Kirkland Lake Gold, Inc		1,290
	13,620		KISCO Corp		262
	3,310		KISCO Holdings Co Ltd		90
	13,760		KISWIRE Ltd		552
	634,465		Klabin S.A.		1,755
	536,911		KME Group S.p.A.		201
	25,634	e	KMG Chemicals, Inc		316
	35,000		Koatsu Gas Kogyo Co Ltd		229

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,153,382	e	Kobe Steel Ltd	$	3,594
	9,850		Kolon Corp		189
	26,314		Kolon Industries, Inc		1,388
	2,330		Kolon Industries, Inc (Preference)		35
	437		Konya Cimento Sanayii		65
	141,685		Koppers Holdings, Inc		3,629
	14,722		Korea Kumho Petrochemical		2,257
	3,109		Korea Petrochemical Ind Co Ltd		211
	15,411		Korea Zinc Co Ltd		3,760
	15,672	*	Koza Anadolu Metal Madencilik Isletmeleri AS		33
	71,640		KP Chemical Corp		903
	3,822		KPX Chemical Co Ltd		168
	5,591		KPX FINE CHEMICA		119
	169,454	*	Kraton Polymers LLC		2,742
	58,708	e	Kronos Worldwide, Inc		944
	109,000	e	Krosaki Harima Corp		386
	7,280		Kukdo Chemical Co Ltd		238
	235,945	e	Kumba Iron Ore Ltd		12,388
	318,969	e	Kumba Resources Ltd		6,685
	54,000		Kumiai Chemical Industry Co Ltd		191
	832,181		Kuraray Co Ltd		11,349
	163,000		Kureha CORP		705
	21,200	e	Kyoei Steel Ltd		356
	3,550,742	*,e	La Seda de Barcelona S.A. (Class B)		316
	41,800	*	Labrador Iron Mines Holdings Ltd		231
	587,920		Lafarge Malayan Cement BHD		1,201
	34,391	e	Lafarge S.A.		1,182
	495,100	*	Lake Shore Gold Corp		751
	113,028	*,e	Landec Corp		601
	2,076,021		Lanxess AG.		99,586
	1,068,000		Lee & Man Holding Ltd		574
	2,773,000	e	Lee & Man Paper Manufacturing Ltd		935
	664,958		LEE Chang Yung Chem IND Corp		972
	88,221		LG Chem Ltd		23,384
	12,672		LG Chem Ltd (Preference)		1,138
	64,607		Linde AG.		8,645
	110,000		Lingbao Gold Co Ltd		47
	359,400		Lingui Development BHD		131
	81,200		Lintec Corp		1,611
	683,700		Lion Industries Corp BHD		286
	26,600		Lock & Lock Co Ltd		715
	137,345	*	London Mining plc		668
	853,000		Long Chen Paper Co Ltd		264
	19,050		Lonmin plc		309
	894,000		Loudong General Nice Resources China Holdings Ltd		84
	553,970	*,e	Louisiana-Pacific Corp		2,825
	121,026	*,e	LSB Industries, Inc		3,470
	142,000		Luks Group Vietnam Holdings Ltd		32
	3,482,000		Lumena Resources Corp		537
	837,881	*	Lundin Mining Corp		2,918
	1,363,054	*,e	Lynas Corp Ltd		1,395
	1,238,991		LyondellBasell Industries AF S.C.A		30,269

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,970,000	e	Maanshan Iron & Steel	$	859
	80,504		MACA Ltd		141
	834,737		MacArthur Coal Ltd		12,764
	1,126,532		Madeco S.A.		43
	8,105		Madras Cements Ltd		17
	61,469	*	MAG. Silver Corp		481
	3,005		Maharashtra Seamless Ltd		22
	98,940		Major Drilling Group International		976
	206,701	*	Makhteshim-Agan Industries Ltd		1,132
	2,510		Managem		442
	135,077		Mardin Cimento Sanayii		452
	131,800	e	Martin Marietta Materials, Inc		8,332
	26,275		Maruichi Steel Tube Ltd		620
	2,139,255		Masisa S.A.		185
	440,640		Mayer Steel Pipe Corp		217
	14,618	e	Mayr-Melnhof Karton AG.		1,316
	808,019	e	MeadWestvaco Corp		19,845
	202,231	e	Mechel Steel Group OAO (ADR)		2,061
	311,754		Medusa Mining Ltd		2,041
	2,627,325		Merafe Resources Ltd		317
	269,000	*	Mercator Minerals Ltd		359
	11,617	*	METabolic EXplorer S.A.		61
	87,970	*	Metals USA Holdings Corp		787
	549,742	*	Metals X Ltd		117
	331,400		Metalurgica Gerdau S.A.		2,954
	129,500		Methanex Corp		2,698
	743,325	*	Metminco Ltd		125
	1,912,268	*	Metorex Ltd		1,890
	1,169,032		Mexichem SAB de C.V.		3,553
	959,000	e	Midas Holdings Ltd		269
	321,898	*,e	Midway Gold Corp		647
	143,700	*	Migao Corp		409
	1,344,568	e	Minara Resources Ltd		1,122
	277,208		Mincor Resources NL		183
	203,597	*	Minefinders Corp		2,811
	525,800	*	Minera Andes, Inc		933
	844,938	*	Minera Frisco SAB de C.V.		2,946
	206,434	*	Mineral Deposits Ltd		923
	86,370	e	Minerals Technologies, Inc		4,255
	3,032,000	*	Minmetals Resources Ltd		1,145
	11,895		Miquel y Costas & Miquel S.A.		352
	612,404	*,e	Mirabela Nickel Ltd		780
	2,617,917	e	Mitsubishi Chemical Holdings Corp		17,754
	293,143		Mitsubishi Gas Chemical Co, Inc		1,800
	1,495,172		Mitsubishi Materials Corp		3,641
	400,000	e	Mitsubishi Paper Mills Ltd		391
	259,000		Mitsubishi Steel Manufacturing Co Ltd		739
	1,164,812	e	Mitsui Chemicals, Inc		3,896
	1,286,000		Mitsui Mining & Smelting Co Ltd		3,315
	286,500		Mitsui Mining Co Ltd		371
	191,533	e	Mittal Steel South Africa Ltd		1,401
	936,181		MMC Norilsk Nickel (ADR)		20,174

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	515,400	*	MMX Mineracao e Metalicos S.A.	$	1,932
	1,352		MNTech Co Ltd		5
	220,910	*	Moly Mines Ltd		84
	98,726	*,e	Molycorp, Inc		3,245
	248,047		Mondi Ltd		1,784
	739,575		Mondi plc		5,405
	342,000	*	Mongolian Mining Corp		302
	3,771		Monnet Ispat & Energy Ltd		38
	4,045,420	e	Monsanto Co		242,886
	53,400		Moorim P&P Co Ltd		230
	77,010		Moorim Paper Co Ltd		176
	1,770,225	e	Mosaic Co		86,688
	1,474,797	e	Mount Gibson Iron Ltd		1,861
	267,267	*	Mpact Ltd		437
	262,570	*,e	M-real Oyj (B Shares)		540
	432,570	*,e	Murchison Metals Ltd		136
	218,867	e	Myers Industries, Inc		2,222
	233,589	*	Mytilineos Holdings S.A.		978
	482,904	m	Nagarjuna Fertilizers & Chemicals		232
	124,000	*	Nakayama Steel Works Ltd		140
	243,281		Nalco Holding Co		8,510
	33,830		Namhae Chemical Corp		283
	942,937		Nampak Ltd		2,437
	7,271,057		Nan Ya Plastics Corp		15,613
	668,860		Nantex Industry Co Ltd		543
	84,461	e	Neenah Paper, Inc		1,198
	305,600	*	Neo Material Technologies Inc		1,861
	72,200		Neturen Co Ltd		614
	271,400		Nevsun Resources Ltd		1,367
	509,828	*	New Gold, Inc		5,264
	963,361		New World Resources plc (A Shares)		6,902
	1,040,883	e	Newcrest Mining Ltd		34,309
	36,530	e	NewMarket Corp		5,548
	1,167,861		Newmont Mining Corp		73,459
	1,271,600		Nickel Asia Corp		523
	107,000		Nihon Nohyaku Co Ltd		509
	59,874		Nihon Parkerizing Co Ltd		849
	116,000	e	Nihon Yamamura Glass Co Ltd		314
	2,827,000	e	Nine Dragons Paper Holdings Ltd		1,415
	142,000		Nippon Denko Co Ltd		752
	255,000		Nippon Kayaku Co Ltd		2,630
	166,000		Nippon Koshuha Steel Co Ltd		193
	1,120,000	e	Nippon Light Metal Co Ltd		1,843
	433,000	e	Nippon Metal Industry Co Ltd		412
	273,523	e	Nippon Paint Co Ltd		2,203
	107,253	*,e	Nippon Paper Group, Inc		2,856
	339,000	e	Nippon Shokubai Co Ltd		4,201
	182,000		Nippon Soda Co Ltd		822
	3,414,958	e	Nippon Steel Corp		9,794
	67,810		Nippon Synthetic Chemical Industry Co Ltd		353
	194,000		Nippon Valqua Industries Ltd		519
	149,500	*	Nippon Yakin Kogyo Co Ltd		252

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	183,600	e	Nissan Chemical Industries Ltd	$	1,717
	1,775,238		Nisshin Steel Co Ltd		3,168
	102,000		Nittetsu Mining Co Ltd		420
	287,777	e	Nitto Denko Corp		11,326
	296,876	*	Nkwe Platinum Ltd		49
	35,171		NL Industries, Inc		441
	242,921	e	NOF Corp		1,272
	213,753	*	Noranda Aluminium Holding Corp		1,785
	29,985	*	Norbord, Inc		226
	81,431		Norddeutsche Affinerie AG.		4,117
	35,141	*	Nordic Mines AB		252
	78,720		Norsk Hydro ASA		357
	221,100	*,e	Norske Skogindustrier ASA		156
	155,822	*	North American Palladium Ltd		399
	13,010,000	*	North Mining Shares Co Ltd		438
	325,971		Northam Platinum Ltd		1,322
	77,963	*	Northern Dynasty Minerals		417
	205,853	*	Northern Iron Ltd		277
	402,658	*	Northgate Minerals Corp		1,353
	302,140	*	Northland Resources S.A.		402
	249,149	*	Novagold Resources, Inc		1,619
	96,527	f	Novolipetsk Steel (GDR) (purchased 12/02/08, cost $2,379)		1,956
	76,665		Novozymes AS (B Shares)		10,900
	554,898	e	Nucor Corp		17,557
	436,670	*,e	Nufarm Ltd		1,774
	444,368	e	Nuplex Industries Ltd		951
	209,958		Nyrstar		1,827
	86,450	*	Nyrstar (Strip VVPR)		0	^
	124,000	*	Ocean Plastics Co Ltd		76
	399,900	*	OceanaGold Corp		908
	8,000		Ohara, Inc		73
	954,462	e	OJI Paper Co Ltd		5,235
	94,000		Okamoto Industries, Inc		397
	343,833	e	Olin Corp		6,192
	36,637	e	Olympic Steel, Inc		621
	150,834	*	OM Group, Inc		3,917
	350,588		OM Holdings Ltd		201
	42,887	*	Omnia Holdings Ltd		402
	196,900	*,e	Omnova Solutions, Inc		705
	1,800,253		OneSteel Ltd		2,110
	1,084,884		Orica Ltd		24,347
	479,000		Oriental Union Chemical Corp		580
	971		Orissa Minerals Development Co Ltd		858
	20,000		Osaka Steel Co Ltd		361
	357,046	*	Osisko Mining Corp		4,521
	331,507	*	Oswal Chemical & Fertilizers		422
	4,905	e	Outokumpu Oyj		32
	287,403	*,e	Owens-Illinois, Inc		4,346
	192,578	e	Oxiana Ltd		1,716
	188,507		Pacific Metals Co Ltd		1,081
	14,800		Pack Corp		242
	181,095	e	Packaging Corp of America		4,220

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	34,214		Palabora Mining Co Ltd	$	470
	287,608		Pan American Silver Corp		7,748
	1,245,864	*,e	Pan Australian Resources Ltd		2,978
	87,495		Papeles y Cartones de Europa S.A.		333
	1,659,768	*	PaperlinX Ltd		114
	469,297	*,e	Paramount Gold and Silver Corp		1,108
	7,395	*	Park Elektrik Madencilik Sanayi Ve Ticaret AS		11
	544,263	*	Patagonia Gold plc		437
	373,349	*	Perilya Ltd		166
	577,688	*	Perseus Mining Ltd		1,699
	221,060		Peter Hambro Mining plc		2,033
	506,462	*	Petra Diamonds Ltd		878
	5,040,000	*	PetroAsian Energy Holdings Ltd		87
	3,534,800		Petronas Chemicals Group BHD		6,100
	355,100		Philex Mining Corp		177
	264,041	*,m	Pike River Coal Ltd		0	^
	412,977	*	Platinum Australia Ltd		62
	245,362	*,f	Polymetal (GDR) (purchased 07/31/09, cost $3,485)		3,768
	1,008,548	e	PolyOne Corp		10,802
	7,560		Poongsan		166
	21,780		Poongsan Corp		459
	471,841		Portucel Empresa Produtora de Pasta e Papel S.A.		1,101
	98,625		POSCO		30,393
	910		POSCO Coated & Color Steel Co Ltd		14
	4,880		POSCO M-Tech Co Ltd		279
	5,231		POSCO Refractories & Environment Co Ltd		844
	159,755		Potash Corp of Saskatchewan		6,905
	1,414,670		Potash Corp of Saskatchewan Toronto		61,425
	1,015,314	e	PPG Industries, Inc		71,742
	81,972		Prakash Industries Ltd		86
	618,164		Praxair, Inc		57,786
	127,400	*	Premier Gold Mines Ltd		671
	270,700		Press Metal Bhd		131
	694,226	e	Pretoria Portland Cement Co Ltd		1,992
	22,454		Prism Cement Ltd		19
	3,440,000		Prosperity International Holdings HK Ltd		175
	4,496,000		PT Aneka Tambang Tbk		758
	2,327,500	*	PT Barito Pacific Tbk		220
	9,544,500	*	PT Darma Henwa Tbk		80
	3,659,500		PT Holcim Indonesia Tbk		734
	2,070,000	*	PT Indah Kiat Pulp and Paper Corp Tbk		210
	2,389,300		PT Indocement Tunggal Prakarsa Tbk		3,762
	27,033,500		PT International Nickel Indonesia Tbk		9,197
	8,368,500		PT Krakatau Steel Tbk		744
	4,111,000		PT Semen Gresik Persero Tbk		3,848
	3,378,000		PT Timah Tbk		668
	553,100		PTT Chemical PCL		1,747
	267,161	*	Quadra Mining Ltd		2,323
	52,061		Quaker Chemical Corp		1,349
	78,900	*	Queenston Mining, Inc		361
	144,000		Qunxing Paper Holdings Co Ltd		38
	93,891		Rain Commodities Ltd		52

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	17,540		Rallis India Ltd	$	62
	843,835		Ramelius Resources Ltd		1,155
	9,747		Randgold Resources Ltd		947
	3,228	e	Rautaruukki Oyj		32
	156,500	m	Real Gold Mining Ltd		178
	47,099		Recticel S.A.		290
	22,700	*	Recylex S.A.		98
	3,769,000		Regent Pacific Group Ltd		92
	431,917	*	Regis Resources Ltd		1,088
	132,464	e	Reliance Steel & Aluminum Co		4,505
	396,767	e	Rengo Co Ltd		3,037
	623,231	*	Resolute Mining Ltd		909
	106,435	*,e	Revett Minerals, Inc		411
	161,353	*	Rex Minerals Ltd		185
	157,062		Rexam plc		755
	29,385		RHI AG.		580
	1,524,616		Rio Tinto Ltd		89,303
	3,752,286		Rio Tinto plc		166,408
	55,423	e	Rio Tinto plc (ADR)		2,443
	192,572		Rock-Tenn Co (Class A)		9,374
	609,205	*,e	Rockwood Holdings, Inc		20,524
	673,700	*	Romarco Minerals, Inc		765
	107,324	*	Royal Bafokeng Platinum Ltd		754
	153,336	e	Royal Gold, Inc		9,823
	250,643	e	RPM International, Inc		4,687
	137,000	*,e	RTI International Metals, Inc		3,195
	295,600	*	Rubicon Minerals Corp		1,030
	19,393		Sa des Ciments Vicat		1,264
	195,500	*	Sabina Gold & Silver Corp		548
	7,659,040	*	Sahaviriya Steel Industries PCL		164
	122,000		Sakai Chemical Industry Co Ltd		549
	515,674	e	Sally Malay Mining Ltd		580
	3,035		Salzgitter AG.		146
	3,392,000		Samling Global Ltd		169
	25,546		Samsung Fine Chemicals Co Ltd		879
	138,600		San Fang Chemical Industry Co Ltd		106
	414,800	*	San Gold Corp		863
	122,887	*	Sandfire Resources NL		704
	126,000		Sanyo Chemical Industries Ltd		976
	193,000	*	Sanyo Special Steel Co Ltd		1,081
	731,352	*,e	Sappi Ltd		2,152
	495,267	*	Saracen Mineral Holdings Ltd		324
	916,500	*	Sateri Holdings Ltd		250
	330,500		Satipel Industrial S.A.		1,513
	55,530	*	Schmolz + Bickenbach AG.		370
	39,712	e	Schnitzer Steel Industries, Inc (Class A)		1,461
	70,739	e	Schweitzer-Mauduit International, Inc		3,952
	141,950	e	Scotts Miracle-Gro Co (Class A)		6,331
	45,000	*	Seabridge Gold, Inc		1,024
	18,016		Seah Besteel Corp		943
	2,498		SeAH Holdings Corp		257
	8,941		SeAH Steel Corp		495

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	281,115	e	Sealed Air Corp	$	4,695
	757,000		Sekisui Plastics Co Ltd		3,306
	548,720	*	SEMAFO, Inc		4,529
	138,381		Semapa-Sociedade de Investimento e Gestao		965
	185,217	*,e	Senomyx, Inc		650
	212,966		Sensient Technologies Corp		6,932
	375,613	*	Sentula Mining Ltd		109
	27,948		Sequana		171
	745,723		Sesa Goa Ltd		3,031
	17,000		Sesoda Corp		16
	523,631	f	Severstal (GDR) (purchased 02/09/10, cost $7,540)		5,470
	279,900	*	Shanghai Chlor-Alkali Chemical Co Ltd		157
	246,300		Shanghai Yaohua Pilkington Glass Co Ltd		156
	201,000		Sheng Yu Steel Co Ltd		120
	396,100		Sherritt International Corp		1,648
	299,644	e	Sherwin-Williams Co		22,270
	218,000	*	Shihlin Paper Corp		342
	47,000		Shikoku Chemicals Corp		279
	466,471		Shin-Etsu Chemical Co Ltd		22,882
	60,200		Shin-Etsu Polymer Co Ltd		326
	1,219,032		Shinkong Synthetic Fibers Corp		354
	2,372		Shinwha Intertek Corp		7
	259,000		Shiny Chemical Industrial Co Ltd		315
	878,000		Shougang Concord Century Holdings Ltd		39
	2,952,000	e	Shougang Concord International Enterprises Co Ltd		153
	1,152,660		Showa Denko KK		2,275
	578		Shree Cement Ltd		22
	424,700		Siam Cement PCL (Foreign)		4,233
	53,000		Siam City Cement PCL		371
	49,044	*	Sidenor Steel Products Manufacturing Co S.A.		125
	220,448	e	Sigma-Aldrich Corp		13,621
	481,000		Sijia Group Co		113
	258		Sika AG.		457
	140,201	e	Silgan Holdings, Inc		5,151
	210,324	*	Silver Lake Resources Ltd		521
	182,342	*	Silver Standard Resources, Inc		3,353
	679,751		Silver Wheaton Corp		20,070
	368,919		Silvercorp Metals, Inc		2,919
	110,626	e	Sims Group Ltd		1,327
	11,180,000	*	Sino Prosper State Gold Resources Holdings Ltd		227
	8,240,000	*	Sino Union Energy Investment Group Ltd		651
	3,766,000	e	Sinochem Hong Kong Holding Ltd		958
	283,627	*	Sino-Forest Corp		1,302
	628,000		Sinon Corp		214
	11,418,600	e	Sinopec Shanghai Petrochemical Co Ltd		4,062
	1,008,000		Sinoref Holdings Ltd		57
	23,095		SK Chemicals Co Ltd		1,245
	24,767		SKC Co Ltd		816
	951,565	*	Smurfit Kappa Group plc		5,685
	79,584	*,e	Sociedad Nacional de Industrias Apicaciones Celulosa Espanola S.A.		121
	148,669		Sociedad Quimica y Minera de Chile S.A. (Class B)		7,181

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,456		Societe Internationale de Plantations d’Heveas S.A.	$	353
	9,872		SODIFF Advanced Materials Co Ltd		569
	607,500		Solar Applied Materials Technology Co		767
	384,727	*,e	Solutia, Inc		4,944
	151,185		Solvay S.A.		14,236
	71,427	*,e	Sonae Industria SGPS S.A.		80
	15,770		Songwon Industrial Co Ltd		169
	237,807	e	Sonoco Products Co		6,713
	259,351		South Valley Cement		142
	385,000		Southeast Cement Co Ltd		127
	1,674,269		Southern Copper Corp (NY)		41,840
	169,487	*	Spartech Corp		542
	13,012	e	Ssab Svenskt Stal AB (Series A)		97
	55,490	*	Ssangyong Cement Industrial Co Ltd		207
	1,058,164	*,e	St Barbara Ltd		2,095
	17,200		ST Corp		232
	224,600	*	St. Andrew Goldfields Ltd		107
	497,646		Steel Authority Of India		1,067
	388,505		Steel Dynamics, Inc		3,854
	11,500		Stella Chemifa Corp		319
	36,351	e	Stepan Co		2,442
	360,313		Sterling Biotech Ltd		508
	2,300,449		Sterlite Industries India Ltd		5,298
	442,673	*,e	Stillwater Mining Co		3,763
	3,025		STO AG.		447
	984,425		Stora Enso Oyj (R Shares)		5,762
	87,300		STP & I PCL		53
	165,657	*,e	STR Holdings, Inc		1,343
	842,472	*	Sujana Towers Ltd		449
	800,221	e	Sumitomo Bakelite Co Ltd		4,269
	1,417,502	e	Sumitomo Chemical Co Ltd		5,469
	599,000	*	Sumitomo Light Metal Industries Ltd		527
	1,586,046		Sumitomo Metal Industries Ltd		3,287
	631,630		Sumitomo Metal Mining Co Ltd		8,363
	1,077,193	e	Sumitomo Osaka Cement Co Ltd		3,604
	61,000		Sumitomo Seika Chemicals Co Ltd		285
	24,712	e	Sumitomo Titanium Corp		1,022
	45,100	*	SunCoke Energy, Inc		496
	3,011,979	*	Sundance Resources Ltd		1,224
	2,545,000		SunVic Chemical Holdings Ltd		1,003
	80,000		Super Dragon Technology Co Ltd		101
	9,851		Supreme Industries Ltd		38
	227,063		Suzano Papel e Celulose S.A.		1,010
	432,713		Svenska Cellulosa AB (B Shares)		5,269
	169,457		Symrise AG.		3,917
	221,499		Syngenta AG.		57,560
	763,491		Synthos S.A.		853
	27,900	e	T Hasegawa Co Ltd		470
	1,091,200		TA Chen Stainless Pipe		564
	939		Taekwang Industrial Co Ltd		955
	154,900	*	Tahoe Resources, Inc		2,232
	1,509,553	e	Taiheiyo Cement Corp		2,739

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,571,748		Taiwan Cement Corp	$	9,092
	1,196,500		Taiwan Fertilizer Co Ltd		2,897
	309,345		Taiwan Hon Chuan Enterprise Co Ltd		656
	175,960		Taiwan Pulp & Paper Corp		58
	1,234,000		Taiwan Styrene Monomer		293
	19,700	e	Taiyo Ink Manufacturing Co Ltd		548
	216,560	e	Taiyo Nippon Sanso Corp		1,508
	103,000		Takasago International Corp		503
	90,000		Takiron Co Ltd		330
	444,357	*	Talvivaara Mining Co plc		1,749
	9,400		Tanaka Chemical Corp		65
	152,000	*	Tang Eng Iron Works Co Ltd		144
	120,154	*	Tanzanian Royalty Exploration Corp		441
	440,859	*	Taseko Mines Ltd		1,119
	678,448		Tata Steel Ltd		5,716
	2,370,800	*	Tata Steel Thailand PCL		69
	9,758		Tatung Fine Chemical Co		16
	2,474,000	e	TCC International Holdings Ltd		904
	13,231		Technosemichem Co Ltd		447
	844,764		Teck Cominco Ltd		24,926
	8,066,412		Teijin Ltd		28,998
	307,385		Temple-Inland, Inc		9,643
	33,800		Tenma Corp		305
	286,200	*	Teranga Gold Corp		595
	20,237		Ternium S.A. (ADR)		422
	58,841		Tessenderlo Chemie NV		1,603
	94,672	e	Texas Industries, Inc		3,005
	60,112	*	Texas Petrochemicals, Inc		1,207
	632,000		Thai Plastic & Chemical PCL		469
	719,266	*,e	Thompson Creek Metals Co, Inc		4,366
	406,281	*	Thompson Creek Metals Co, Inc (Toronto)		2,462
	211,000		Thye Ming Industrial Co Ltd		220
	459,235		ThyssenKrupp AG.		11,284
	1,230,000		Tiangong International Co Ltd		199
	49,968		Tikkurila Oy		849
	140,101		Time Technoplast Ltd		182
	13,377	*	Tire Kutsan Oluklu Mukavva		8
	73,935		Titan Cement Co S.A.		992
	491,649	e	Titanium Metals Corp		7,365
	354,000		Toagosei Co Ltd		1,735
	40,000		Toda Kogyo Corp		318
	42,400	*,e	Toho Titanium Co Ltd		703
	169,000		Toho Zinc Co Ltd		626
	485,000	e	Tokai Carbon Co Ltd		2,405
	827,000	e	Tokuyama Corp		2,865
	46,800	e	Tokyo Ohka Kogyo Co Ltd		944
	152,796		Tokyo Rope Manufacturing Co Ltd		329
	135,200		Tokyo Steel Manufacturing Co Ltd		1,285
	1,317,750		Ton Yi Industrial Corp		612
	18,613	*	Tong Yang Major Corp		16
	509,000		Topy Industries Ltd		1,223
	783,658	e	Toray Industries, Inc		5,488

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	729,722	e	Tosoh Corp	$	2,287
	353,000		Toyo Ink Manufacturing Co Ltd		1,395
	131,000		Toyo Kohan Co Ltd		558
	116,644		Toyo Seikan Kaisha Ltd		1,765
	1,555,500		TPI Polene PCL		607
	1,683,550		TSRC Corp		3,674
	122,685	*,e	Tubacex S.A.		290
	127,313	*	Tubos Reunidos S.A.		257
	815,676		Tung Ho Steel Enterprise Corp		726
	1,847,359		UBE Industries Ltd		6,139
	253,268		Uflex Ltd		722
	98,933		Ultra Tech Cement Ltd		2,300
	87,112	e	Umicore		3,158
	34,600	*	Uniao de Industrias Petroquimicas S.A.		6
	12,227		Unid Co Ltd		590
	10,060		Union Steel		139
	110,000	*	Unipetrol		1,036
	305,264		United Phosphorus Ltd		854
	12,851	*,e	United States Lime & Minerals, Inc		513
	252,492	e	United States Steel Corp		5,557
	619,000		Universal Cement Corp		288
	28,708	*,e	Universal Stainless & Alloy		730
	1,150,000		UPC Technology Corp		502
	863,954		UPM-Kymmene Oyj		9,760
	431,655	f	Uralkali (GDR) (purchased 02/26/10, cost $15,650)		14,732
	116,440	*,e	US Energy Corp Wyoming		269
	476,672	*,e	US Gold Corp		1,911
	30,050		Usha Martin Ltd		20
	868,250		USI Corp		836
	210,300		Usinas Siderurgicas de Minas Gerais S.A.		2,405
	554,562		Usinas Siderurgicas de Minas Gerais S.A. (Preference)		3,103
	2,798,894		Vale S.A.		63,488
	3,173,476		Vale SA (Preference)		66,212
	265,775		Valspar Corp		8,295
	34,069	e	Vedanta Resources plc		579
	26,628	*	Verbio AG		87
	42,341	*,e	Verso Paper Corp		71
	303		Vetropack Holding AG.		507
	106,245		Victrex plc		1,799
	812,300		Vinythai PCL		319
	124,807	*	Viohalco S.A.		553
	350,820	*,e	Vista Gold Corp		1,172
	311,395		Voestalpine AG.		9,002
	372,434	e	Vulcan Materials Co		10,263
	45,924	e	Wacker Chemie AG.		4,077
	2,661,596		Walter Energy, Inc		159,723
	223,419	e	Wausau Paper Corp		1,428
	132,128		Welspun-Gujarat Stahl Ltd		299
	69,168	*	Wesizwe		15
	2,864,000		West China Cement Ltd		457
	75,262		West Fraser Timber Co Ltd		2,862
	433,096	e	Western Areas NL		1,773

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	124,909	e	Westlake Chemical Corp	$	4,282
	239,226	*	White Energy Co Ltd		336
	24,641	*,e	WHX Corp		249
	266,025	e	Worthington Industries, Inc		3,716
	1,093,077	*,e	WR Grace & Co		36,399
	123,600		WTK Holdings BHD		44
	1,291,000		Xingda International Holdings Ltd		621
	1,118,000		Xinjiang Xinxin Mining Industry Co Ltd		312
	1,837,763		Xstrata plc		23,207
	1,112,131		Yamana Gold, Inc		15,261
	7,711	e	Yamato Kogyo Co Ltd		202
	236,012		Yara International ASA		9,004
	570,000		Yeun Chyang Industrial Co Ltd		362
	1,858,500		Yieh Phui Enterprise		618
	1,873,500		Yingde Gases		1,696
	408,000		Yip’s Chemical Holdings Ltd		304
	166,000		Yodogawa Steel Works Ltd		765
	33,900		Youlchon Chemical Co Ltd		231
	2,049,285		Yuen Foong Yu Paper Manufacturing Co Ltd		783
	746,500	*	Yukon-Nevada Gold Corp		203
	350,178		Yule Catto & Co plc		875
	59,000		Yung Chi Paint & Varnish Manufacturing Co Ltd		79
	8,921		Zaklady Azotowe Pulawy S.A.		231
	45,123	*	Zaklady Azotowe w Tarnowie-Moscicach S.A.		420
	31,832	*	Zaklady Chemiczne Police S.A.		103
	112,875	*	Zanaga Iron Ore Co Ltd		172
	520,512	e	Zeon Corp		4,784
	93,564	e	Zep, Inc		1,405
	2,623,000		Zhaojin Mining Industry Co Ltd		4,363
	64,123		Zignago Vetro S.p.A.		398
	9,245,000	e	Zijin Mining Group Co Ltd		2,685
	118,692	*,e	Zoltek Cos, Inc		763
	1,206		Zuari Industries Ltd		13
			TOTAL MATERIALS		5,646,770
MEDIA - 2.7%
	1,236,251	e	Aegis Group plc		2,382
	47,911		Agora S.A.		186
	78,010	e	AH Belo Corp (Class A)		328
	376,469	*,e	AMC Networks, Inc		12,028
	236,902	e	Antena 3 de Television S.A.		1,377
	570,626	e	APN News & Media Ltd		459
	166,488		Arbitron, Inc		5,507
	170,172		Arnoldo Mondadori Editore S.p.A.		360
	40,900	e	Asatsu-DK, Inc		1,127
	85,600		Astral Media, Inc		2,661
	5,369,335	*,e	Austar United Communications Ltd		5,969
	44,759	e	Avex Group Holdings, Inc		547
	27,986		Axel Springer AG.		963
	2,547,000		BEC World PCL (Foreign)		2,993
	383,623		Belo (A.H.) Corp (Class A)		1,876
	3,256,600		Benpres Holdings Corp		325

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,675	*	Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS	$	8
	1,722,000	*	Big Media Group Ltd		44
	70,058	*	Borussia Dortmund GmbH & Co KGaA		195
	3,268,566		British Sky Broadcasting plc		33,663
	876,730		Cablevision Systems Corp (Class A)		13,791
	71,455		Cairo Communication S.p.A.		248
	76,494		Canal Plus		451
	4,743,909		CBS Corp (Class B)		96,681
	64,000	*,e	Central European Media Enterprises Ltd (Class A)		483
	163,763	*,e	Central European Media Enterprises Ltd (Class A) Nasdaq		1,279
	152,557	*,e	Charter Communications, Inc		7,146
	141,960		Cheil Communications, Inc		2,224
	148,209		Chime Communications plc		435
	490,745		Cinemark Holdings, Inc		9,265
	130,900		Cineplex Galaxy Income Fund		3,285
	25,640		CJ CGV Co Ltd		513
	25,844	*	CJ E&M Corp		868
	69,738	*	Clear Channel Outdoor Holdings, Inc (Class A)		653
	18,982		Cogeco Cable, Inc		865
	11,446,923		Comcast Corp (Class A)		239,241
	6,400		COOKPAD, Inc		155
	114,511	*	Corus Entertainment, Inc		2,158
	204,840	*,e	Crown Media Holdings, Inc (Class A)		293
	33,222	e	CTS Eventim AG.		990
	123,609	*,e	Cumulus Media, Inc (Class A)		351
	652	e	CyberAgent, Inc		1,741
	86,326		Cyfrowy Polsat S.A.		388
	68,820		Daekyo Co Ltd		351
	54,400		Daiichikosho Co Ltd		1,068
	615,664		Daily Mail & General Trust		3,463
	390,942		Deccan Chronicle Holdings Ltd		440
	3,249,806	*	DEN Networks Ltd		4,619
	165,042	e	Dentsu, Inc		5,229
	4,410,689	*,e	DIRECTV		186,352
	990,969	*,e	Discovery Communications, Inc (Class A)		37,280
	183,830	*	Discovery Communications, Inc (Class C)		6,462
	4,026,963		DISH Network Corp (Class A)		100,916
	110,790	*	Dogan Gazetecilik AS		135
	344,199	*	Dogan Yayin Holding		120
	173,836	*,e	DreamWorks Animation SKG, Inc (Class A)		3,160
	136,734	*	EM.Sport Media AG.		269
	146,655	*,e	Eniro AB		283
	144,645	*,e	Entercom Communications Corp (Class A)		759
	213,710	*,e	Entravision Communications Corp (Class A)		218
	95,906	*	Eros International plc		320
	1,115,000	*	eSun Holdings Ltd		200
	86,089	e	Euromoney Institutional Investor plc		824
	36,941		Eutelsat Communications		1,484
	156,861	*,e	EW Scripps Co (Class A)		1,098
	5,743		Fenerbahce Sportif Hizmetleri Sanayi ve Ticaret AS		144
	38,880	*	Fisher Communications, Inc		869
	19,054	*	Focus Media Holding Ltd (ADR)		320

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,550		Fuji Television Network, Inc	$	7,979
	77,000	e	Gakken Co Ltd		169
	143		Galatasaray Sportif Sinai ve Ticari Yatirimlar AS		19
	520,269	e	Gannett Co, Inc		4,958
	47,865	e	Gestevision Telecinco S.A.		272
	19,468		GFK AG.		743
	1,360		GIIR, Inc		10
	51,972	*,e	Global Sources Ltd		352
	–	*,e	Global Traffic Network, Inc		0	^
	283,233	*,e	Gray Television, Inc		442
	247,560		Groupe Aeroplan, Inc		2,818
	3,348,127	e	Grupo Televisa S.A.		12,341
	174,408	e	Gruppo Editoriale L’Espresso S.p.A.		278
	27,366	e	Hakuhodo DY Holdings, Inc		1,588
	192,374	e	Harte-Hanks, Inc		1,631
	1,470,740	*	Hathway Cables and Datacom Pvt Ltd		2,589
	630,219	e	Havas S.A.		2,301
	51,624	*	Hi-Media S.A.		167
	31,816	*	Hot Telecommunication System Ltd		386
	95,723		Hurriyet Gazetecilik AS		49
	100,080	*	Hyundai Hy Communications & Network Co		238
	6,747	*	IBN18 Broadcast Ltd		6
	461,167	*	Independent News & Media plc		148
	1,081,952		Informa plc		5,491
	77,938	*,e	interCLICK, Inc		433
	8,869,691		Interpublic Group of Cos, Inc		63,862
	40,212	e	IPSOS		1,298
	9,655		Israel Land Development Co Ltd		48
	18,519,830	*	ITV plc		16,939
	5,657		Jagran Prakashan Ltd		13
	1,063,302	*	JC Decaux S.A.		26,390
	1,765,394	e	John Fairfax Holdings Ltd		1,387
	92,813	e	John Wiley & Sons, Inc (Class A)		4,123
	243,928	*,e	Journal Communications, Inc (Class A)		724
	2,576		Jupiter Telecommunications Co		2,787
	97,559	*	Juventus Football Club S.p.A.		95
	345,604	*	Kabel Deutschland Holding AG.		18,529
	29,181	e	Kadokawa Holdings, Inc		1,014
	10,965		Kinepolis		812
	122,095	*,e	Knology, Inc		1,585
	9,897		Lagardere S.C.A.		243
	103,872	*,e	Lamar Advertising Co (Class A)		1,769
	1,069,916	*,e	Liberty Global, Inc (Class A)		38,710
	201,787	*	Liberty Interactive LLC		13,342
	146,328	*	Liberty Media Corp-Liberty Starz		9,301
	235,276	*	Lin TV Corp (Class A)		513
	183,636	*,e	Lions Gate Entertainment Corp		1,267
	730,336	*	Live Nation, Inc		5,850
	174,845		M6-Metropole Television		2,835
	177,280	*	Madison Square Garden, Inc		4,042
	283,300		Major Cineplex Group PCL		113
	136,830	*,e	Martha Stewart Living Omnimedia, Inc (Class A)		427

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	355,552	*,e	McClatchy Co (Class A)	$	476
	1,120,219	e	McGraw-Hill Cos, Inc		45,929
	454,600		MCOT PCL		396
	119,488		MDC Partners, Inc		1,723
	214,867		Mecom Group plc		509
	1,977,500	*	Media China Corp Ltd		22
	1,076,300		Media Chinese International Ltd		334
	77	*,e	Media General, Inc (Class A)		0	^
	1,310,100		Media Prima BHD		897
	297,973	e	Mediaset S.p.A.		938
	166,638	e	Meredith Corp		3,773
	3,558		Modern Times Group AB (B Shares)		143
	74,252	e	Morningstar, Inc		4,191
	587,422		Naspers Ltd (N Shares)		25,368
	348,665		National CineMedia, Inc		5,059
	161,717		Navneet Publications India		209
	1,289	*	Network 18 Media & Investments Ltd		2
	647,493	*,e	New York Times Co (Class A)		3,762
	5,728,037		News Corp (Class A)		88,613
	53,756	*,e	Nexstar Broadcasting Group, Inc (Class A)		355
	798,000	*	Next Media Ltd		74
	23,585		NRJ Group		222
	517,684	e	Omnicom Group, Inc		19,071
	830,000		Oriental Press Group		84
	78,565		Outdoor Channel Holdings, Inc		449
	169,654	e	PagesJaunes Groupe S.A.		668
	27,200	*	Pandora Media, Inc		398
	5,264,592	e	Pearson plc		92,863
	3,070,000		Phoenix Satellite Television Holdings Ltd		563
	1,488,000		Pico Far East Holdings Ltd		231
	432,257	*,e	Premiere AG.		1,104
	365,953	*,e	Promotora de Informaciones S.A.		392
	259,188		ProSiebenSat.1 Media AG.		4,557
	5,800		Proto Corp		201
	16,589,000	*	PT Bhakti Investama Tbk		339
	8,582,500		PT Global MediaCom Tbk		793
	8,104,500		PT Media Nusantara Citra Tbk		932
	186,629	e	PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		566
	21,546	e	Publicis Groupe S.A.		899
	3,605		PubliGroupe AG.		477
	685,257	e	Publishing & Broadcasting Ltd		1,574
	102,000		Qin Jia Yuan Media Services Co Ltd		6
	65,736		Quebecor, Inc		2,083
	213,601	*,e	RCS MediaGroup S.p.A.		202
	74,804		REA Group Ltd		838
	40,199	*,e	ReachLocal, Inc		437
	1,861,699		Reed Elsevier NV		20,472
	116,587		Reed Elsevier plc		893
	533,813	e	Regal Entertainment Group (Class A)		6,267
	43,814	*	Rentrak Corp		552
	133,333		Rightmove plc		2,469

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,652		Roularta Media Group NV	$	91
	14,796	*,e	Saga Communications, Inc		437
	10,383	e	Sanoma-WSOY Oyj		122
	33,000		Saraiva S.A. Livreiros Editores		443
	119,150		SBS Media Holdings Co Ltd		436
	165,075	e	Schibsted ASA		3,535
	135,136	e	Scholastic Corp		3,788
	864,807	e	Scripps Networks Interactive (Class A)		32,145
	1,404,474	*,e	Seat Pagine Gialle S.p.A.		73
	117,870		SES Global S.A.		2,868
	566,527	*	Shaw Communications, Inc (B Shares)		11,494
	104,000	e	Shochiku Co Ltd		983
	460,538		Shree Ashtavinyak Cine Vision Ltd		53
	234,430	e	Sinclair Broadcast Group, Inc (Class A)		1,681
	468,000		Sing Tao News Corp Ltd		59
	173,038	e	Singapore Press Holdings Ltd		495
	781,000		SinoMedia Holding Ltd		206
	12,957,743	*,e	Sirius XM Radio, Inc		19,566
	344,650		Sky Network Television Ltd		1,419
	5,972	e	Sky Perfect Jsat Corp		3,115
	1,103	*	SM Entertainment Co		42
	395,971	e	Societe Television Francaise 1		4,923
	705,424		Southern Cross Media Group		646
	2,734	*	Spir Communication		87
	3,091,770	*,a	Stroer Out-of-Home Media AG.		44,307
	573,100	e	STW Communications Group Ltd		496
	65,204	*	T4F Entretenimento S.A.		392
	709,670	*	Telecom Italia Media S.p.A.		152
	852,343		Television Broadcasts Ltd		4,649
	969,023	e	Ten Network Holdings Ltd		816
	69,807	*	Tera Resource Co Ltd		36
	1,069,863	e	Thomson Corp		28,929
	437,794		Thomson Corp (Toronto)		11,865
	1,490,867		Time Warner Cable, Inc		93,433
	3,488,537	e	Time Warner, Inc		104,551
	274,000		Toei Animation Co Ltd		5,735
	342,885		Toei Co Ltd		1,690
	79,417	e	Toho Co Ltd		1,387
	22,600		Tohokushinsha Film Corp		118
	51,100		Tokyo Broadcasting System, Inc		629
	1,858,000	*	Tom Group Ltd		128
	115,479		Torstar Corp		875
	10,258	*	Trabzonspor Sportif Yatirim ve TAS		110
	677,647	*	Trinity Mirror plc		430
	268		TV Asahi Corp		434
	2,328,200		TV Azteca S.A. de C.V.		1,215
	14,000		TV Tokyo Corp		207
	152,675		TVN S.A.		655
	347,688		United Business Media Ltd		2,418
	143,246	*,e	Usen Corp		103
	24,666	*	UTV Software Communications Ltd		477
	197,232	*,e	Valassis Communications, Inc		3,696

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,329	e	Value Line, Inc	$	96
	5,179,171	e	Viacom, Inc (Class B)		200,641
	1,340,092	e	Virgin Media, Inc		32,631
	1,800,000		VODone Ltd		134
	9,474,807	e	Walt Disney Co		285,760
	17,691	e	Washington Post Co (Class B)		5,784
	442,172		West Australian Newspapers Holdings Ltd		1,103
	8,074	*,e	Westwood One, Inc		29
	25,719		Wolters Kluwer NV		417
	44,810	*	Woongjin Holdings Co Ltd		231
	29,600		Woongjin Thinkbig Co Ltd		402
	105,159	e	World Wrestling Entertainment, Inc (Class A)		937
	7,020,997		WPP plc		65,032
	3,350,758	*,e	Yell Group plc		213
	1,684,008		Yellow Pages Income Fund		249
	401,498	*	Zee Entertainment Enterprises Ltd		630
	706,485		ZEE Telefilms Ltd		1,690
	49,400		Zenrin Co Ltd		488
			TOTAL MEDIA		2,414,793
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.2%
	5,178,494		Abbott Laboratories		264,828
	352,765		Abcam plc		1,994
	–	*,b,e	Able Laboratories, Inc		0	^
	27,840	*	Ablynx NV		154
	84,000		Abnova Corp		141
	196,229	*,e	Achillion Pharmaceuticals, Inc		926
	162,358	*,e	Acorda Therapeutics, Inc		3,241
	256,422		Acrux Ltd		782
	84,860		Actelion Ltd		2,819
	49,050	*	Active Biotech AB		219
	22,084	*,e	Acura Pharmaceuticals, Inc		75
	339,005		Adcock Ingram Holdings Ltd		2,514
	32,946	*,e	Aegerion Pharmaceuticals, Inc		417
	244,583	*,e	Affymax, Inc		1,096
	395,539	*,e	Affymetrix, Inc		1,938
	2,326,335	*,e	Agilent Technologies, Inc		72,699
	225,187	*,e	Akorn, Inc		1,759
	113,625	*,e	Albany Molecular Research, Inc		320
	1,268,789	*,e	Alexion Pharmaceuticals, Inc		81,279
	31,113	*	Algeta ASA		908
	13,651		ALK-Abello AS		784
	493,102	*,e	Alkermes PLC		7,525
	2,215,292		Allergan, Inc		182,496
	439,384	*	Allos Therapeutics, Inc		808
	150,712	*,e	Alnylam Pharmaceuticals, Inc		990
	169,557	*,e	AMAG Pharmaceuticals, Inc		2,503
	4,349,845	e	Amgen, Inc		239,023
	67,506	*,e	Amicus Therapeutics, Inc		259
	93,001	*,e	Ampio Pharmaceuticals, Inc		618
	380,272	*,e	Amylin Pharmaceuticals, Inc		3,510
	26,375	*,e	Anacor Pharmaceuticals, Inc		150

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	70,313	*,e	Anthera Pharmaceuticals, Inc	$	335
	237,000		Apex Biotechnology Corp		450
	62,784	*,e	Ardea Biosciences, Inc		981
	555,937	*,e	Arena Pharmaceuticals, Inc		806
	613,706	*,e	Ariad Pharmaceuticals, Inc		5,394
	291,828	*	Arqule, Inc		1,474
	255,622	*,e	Array Biopharma, Inc		501
	53,000		ASKA Pharmaceutical Co Ltd		446
	429,950		Aspen Pharmacare Holdings Ltd		4,839
	377,439	e	Astellas Pharma, Inc		14,247
	433,695	*,e	Astex Pharmaceuticals		833
	1,041,374		AstraZeneca plc		46,216
	683,227	e	AstraZeneca plc (ADR)		30,308
	230,137		Aurobindo Pharma Ltd		580
	193,461	*,e	Auxilium Pharmaceuticals, Inc		2,900
	499,504	*,e	AVANIR Pharmaceuticals, Inc		1,429
	311,798	*,e	AVEO Pharmaceuticals, Inc		4,799
	506,038	*,e	AVI BioPharma, Inc		567
	6,116		Bachem Holding AG.		258
	11,315	*	Basilea Pharmaceutica		482
	30,332	*,e	Bavarian Nordic AS		218
	2,344,206		Bayer AG.		129,362
	17,199,208	*	BB Bioventures L.P.		2,399
	19,440	*,e	BG Medicine, Inc		69
	38,248		Bilcare Ltd		246
	82,961		Biocon Ltd		569
	107,425	*,e	BioCryst Pharmaceuticals, Inc		296
	29,048		Biogaia AB (B Shares)		646
	1,120,551	*,e	Biogen Idec, Inc		104,379
	66,793	*	BioInvent International AB		165
	450,784	*,e	BioMarin Pharmaceuticals, Inc		14,366
	89,777	*,e	BioMimetic Therapeutics, Inc		296
	56,618	*,e	Bio-Rad Laboratories, Inc (Class A)		5,139
	370,828	*,e	Biosante Pharmaceuticals, Inc		845
	20,559	*,e	Biospecifics Technologies Corp		332
	406,093	e	Biota Holdings Ltd		312
	6,377		Biotest AG.		349
	6,511		Biotest AG. (Preference)		319
	100,999	*,e	Biotime, Inc		445
	5,355,265	*	Bioton S.A.		128
	381,981	e	Biovail Corp		14,179
	375,772		Biovail Corp (Toronto)		14,007
	10,095,422	*,e	Biovitrum AB		23,910
	6,934		Boiron S.A.		190
	6,476,202	e	Bristol-Myers Squibb Co		203,223
	1,616,000	*	Broad Intelligence International Pharmaceutical Holdings Ltd		245
	239,846	*	Bruker BioSciences Corp		3,245
	435,451	*	BTG plc		1,683
	32,850		Bukwang Pharmaceutical Co Ltd		421
	143,119	*,e	Cadence Pharmaceuticals, Inc		937
	14,475		Cadila Healthcare Ltd		224

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	240,869	*	Caliper Life Sciences, Inc	$	2,522
	185,189	*,e	Cambrex Corp		933
	116,761	*	Cardiome Pharma Corp		399
	2,957,520	*,e	Celgene Corp		183,129
	660,603	*,e	Cell Therapeutics, Inc		700
	209,143	*,e	Celldex Therapeutics, Inc		478
	99,508		Celltrion, Inc		3,651
	134,499	*,e	Cephalon, Inc		10,854
	300,176	*,e	Cepheid, Inc		11,656
	146,359	*,e	Charles River Laboratories International, Inc		4,189
	210,559	*,e	Chelsea Therapeutics International, Inc		769
	67,000		China Chemical & Pharmaceutical Co Ltd		39
	238,000		China Medical System Holdings Ltd		158
	1,940,000		China Pharmaceutical Group Ltd		469
	586,000		China Shineway Pharmaceutical Group Ltd		717
	17,280		Chong Kun Dang Pharm Corp		290
	18,402		Choongwae Pharma Corp		234
	265,183		Chugai Pharmaceutical Co Ltd		4,492
	469,489		Cipla Ltd		2,688
	508,587		Cipla Medpro South Africa Ltd		424
	3,440,000		CK Life Sciences International Holdings, Inc		140
	33,517	*	Clal Biotechnology Industries Ltd		135
	108,129	*,e	Cleveland Biolabs, Inc		275
	22,500		CMIC Co Ltd		401
	100,872	*,e	Codexis, Inc		461
	336,639	*,e	Columbia Laboratories, Inc		656
	306,093	*,e	Combinatorx, Inc		300
	44,252	*,e	Complete Genomics, Inc		260
	8,198,000	*	Coolpoint Energy Ltd		80
	144,055	*,e	Corcept Therapeutics, Inc		447
	53,078	*,e	Cornerstone Therapeutics, Inc		340
	110,891	*,e	Covance, Inc		5,040
	798,138	e	CSL Ltd		22,659
	327,772	*,e	Cubist Pharmaceuticals, Inc		11,577
	313,203	*,e	Curis, Inc		990
	197,258	*,e	Cytori Therapeutics, Inc		582
	13,960		Daewoong Pharmaceutical Co Ltd		374
	698,078	e	Daiichi Sankyo Co Ltd		14,552
	231,625	e	Dainippon Sumitomo Pharma Co Ltd		2,546
	832,000		Dawnrays Pharmaceutical Holdings Ltd		223
	101,700		Dechra Pharmaceuticals plc		779
	412,152	*,e	Dendreon Corp		3,709
	223,643	*,e	Depomed, Inc		1,208
	186,617	*	Deva Holding AS		173
	20,049	*	Devgen		113
	23,779	*	Diamyd Medical AB (B Shares)		31
	8,955		Dong-A Pharmaceutical Co Ltd		677
	182,075		Dr Reddy’s Laboratories Ltd		5,480
	362,435	*,e	Durect Corp		584
	119,772	*,e	Dusa Pharmaceuticals, Inc		443
	384,294	*,e	Dyax Corp		484
	464,932	*,e	Dynavax Technologies Corp		865

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,789		Egis Gyogyszergyar Rt	$	658
	95,153		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS.		109
	519,453	e	Eisai Co Ltd		20,959
	171,663	*	Elan Corp plc		1,820
	67,751	*,e	Elan Corp plc (ADR)		713
	44,272		Elder Pharmaceuticals Ltd		344
	3,830,236	e	Eli Lilly & Co		141,604
	166,444	*,e	Emergent Biosolutions, Inc		2,568
	320,127	*,e	Endo Pharmaceuticals Holdings, Inc		8,960
	72,696	*,e	Endocyte, Inc		771
	155,960	*,e	Enzo Biochem, Inc		401
	182,871	*,e	Enzon Pharmaceuticals, Inc		1,287
	133		EPS Co Ltd		302
	202,727	*,e	eResearch Technology, Inc		904
	16,130		Eurofins Scientific		1,219
	128,488	*	Evolutec Group plc		100
	134,852	*	Evotec AG.		404
	211,649	*,e	Exact Sciences Corp		1,403
	515,406	*	Exelixis, Inc		2,814
	3,060,000	*	Extrawell Pharmaceutical Holdings Ltd		209
	283,522		FAES FARMA S.A.		505
	5,222		FDC Ltd		10
	48,133	*,e	Fluidigm Corp		670
	1,355,541	*	Forest Laboratories, Inc		41,737
	41,502	*,e	Furiex Pharmaceuticals Inc		591
	133,000		Fuso Pharmaceutical Industries Ltd		393
	197,777	*	Galapagos NV		1,553
	52,839	*	Genmab AS		308
	68,989	*,e	Genomic Health, Inc		1,516
	1,401,400	*	Genomma Lab Internacional S.A. de C.V.		2,341
	109,086		Genus plc		1,773
	582,407	*,e	Geron Corp		1,235
	58,156		Gerresheimer AG.		2,434
	5,660,014	*	Gilead Sciences, Inc		219,608
	7,229,934		GlaxoSmithKline plc		149,190
	9,220	*,e	Golf Trust Of America, Inc		81
	7,863		Green Cross Corp		1,120
	118,599	e	Grifols S.A.		2,212
	78,050	*,e	GTx, Inc		261
	78,000		Guangzhou Pharmaceutical Co Ltd		48
	312,464	*,e	Halozyme Therapeutics, Inc		1,919
	25,910	*	Han All Pharmarceutical Co		181
	3,490		Handok Pharmaceuticals Co Ltd		36
	6,736		Hanmi Holdings Co Ltd		123
	5,884	*	Hanmi Pharm Co Ltd		338
	95,097	*,e	Harvard Bioscience, Inc		401
	185,928		Hikma Pharmaceuticals plc		1,643
	51,231	e	Hisamitsu Pharmaceutical Co, Inc		2,462
	51,771	*,e	Hi-Tech Pharmacal Co, Inc		1,740
	10,700	*	Horizon Pharma, Inc		75
	558,840	*	Hospira, Inc		20,677

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,660,000		Hua Han Bio-Pharmaceutical Holdings Ltd	$	311
	781,220	*,e	Human Genome Sciences, Inc		9,914
	219,541	*,e	Idenix Pharmaceuticals, Inc		1,096
	3,900		Il Dong Pharmaceutical Co Ltd		25
	392,033	*,e	Illumina, Inc		16,042
	2,924		Ilsung Pharmaceuticals Co Ltd		170
	18,415		Ilyang Pharmaceutical Co Ltd		374
	330,957	*,e	Immunogen, Inc		3,627
	286,642	*,e	Immunomedics, Inc		917
	287,617	*,e	Impax Laboratories, Inc		5,151
	368,856	*,e	Incyte Corp		5,153
	88,161	*,e	Infinity Pharmaceuticals, Inc		622
	240,258	*,e	Inhibitex, Inc		591
	119,763	*,e	Insmed, Inc		611
	53,810	*,e	Intercell AG.		148
	243,567	*,e	InterMune, Inc		4,920
	1,490		Ipca Laboratories Ltd		8
	33,900		Ipsen		1,020
	202,918	*,e	Ironwood Pharmaceuticals, Inc		2,192
	406,668	*,e	Isis Pharmaceuticals, Inc		2,757
	254,834	*	ISTA Pharmaceuticals, Inc		879
	137,316	*,e	Jazz Pharmaceuticals, Inc		5,701
	19,000		JCR Pharmaceuticals Co Ltd		168
	15,170		Jeil Pharmaceutical Co		148
	9,496,227	e	Johnson & Johnson		605,005
	12,347		Jubilant Organosys Ltd		50
	228,521		Kaken Pharmaceutical Co Ltd		3,194
	278,273	*,e	Keryx Biopharmaceuticals, Inc		835
	54,600		Kissei Pharmaceutical Co Ltd		1,193
	56,785	*	Komipharm International Co Ltd		470
	208,977	*,e	KV Pharmaceutical Co (Class A)		282
	81,330		Kwang Dong Pharmaceutical Co Ltd		203
	104,336		Kyorin Co Ltd		2,182
	1,166,187		Kyowa Hakko Kogyo Co Ltd		13,003
	69,345	e	Laboratorios Almirall S.A.		487
	29,984		Laboratorios Farmaceuticos Rovi S.A		208
	59,962	*,e	Lannett Co, Inc		230
	768,806	*,e	Lexicon Pharmaceuticals, Inc		707
	18,990	*	LG Life Sciences Ltd		596
	799,881	*	Life Technologies Corp		30,739
	85,651	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,172
	1,270,000		Lijun International Pharmaceutical Holding Ltd		119
	118,200		Livzon Pharmaceutical, Inc		200
	341,068		Lonza Group AG.		20,551
	149,094	*,e	Luminex Corp		3,305
	213,582		Lupin Ltd		2,059
	291,992	*,e	MannKind Corp		1,107
	94,787	*,e	MAP Pharmaceuticals, Inc		1,386
	122,961	e	Maxygen, Inc		673
	95,375		MDS, Inc		843
	512,291	e	Meda AB (A Shares)		4,675
	377,084	*	Medicines Co		5,611

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	331,651	e	Medicis Pharmaceutical Corp (Class A)	$	12,099
	7,445	*	Medipost Co Ltd		738
	151,251	*,e	Medivation, Inc		2,568
	28,097	*	Medivir AB		368
	35,955	e	Medtox Scientific, Inc		471
	10,984,366	e	Merck & Co, Inc		359,299
	292,992		Merck KGaA		23,999
	134,450	*	Mesoblast Ltd		1,031
	133,737	*,e	Metabolix, Inc		586
	234,270	*,e	Mettler-Toledo International, Inc		32,788
	361,843	*,e	Micromet, Inc		1,737
	82,516		Mochida Pharmaceutical Co Ltd		946
	185,869	*,e	Momenta Pharmaceuticals, Inc		2,137
	29,508	*	Morphosys AG.		753
	22,167,242	*,a	MPM Bioventures II		4,162
	5,220,657	*	Mylan Laboratories, Inc		88,751
	268,742	*,e	Myriad Genetics, Inc		5,036
	321,430	*,e	Nabi Biopharmaceuticals		540
	447,963	*,e	Nektar Therapeutics		2,173
	75,139	*,e	Neostem, Inc		49
	395,250	*,e	Neurocrine Biosciences, Inc		2,364
	32,095	*,e	NeuroSearch AS		127
	38,000	e	Nichi-iko Pharmaceutical Co Ltd		1,016
	94,657	*,e	NicOx S.A.		134
	425,550		Nippon Chemiphar Co Ltd		1,746
	68,000		Nippon Shinyaku Co Ltd		873
	10,388	*,e	Novacea, Inc		69
	4,413,868		Novartis AG.		246,566
	153,250		Novartis AG. (ADR)		8,547
	554		Novartis India Ltd		9
	360,977	*,e	Novavax, Inc		581
	516,124		Novo Nordisk AS (Class B)		51,475
	365,602	*,e	NPS Pharmaceuticals, Inc		2,380
	68,874	*,e	Nymox Pharmaceutical Corp		563
	78,752	*,e	Obagi Medical Products, Inc		714
	47,555	*,e	OncoGenex Pharmaceutical, Inc		466
	115	*	OncoTherapy Science, Inc		204
	186,848	*,e	Oncothyreon, Inc		1,117
	105,495	e	Ono Pharmaceutical Co Ltd		6,294
	341,303	*,e	Onyx Pharmaceuticals, Inc		10,243
	405,823	*,e	Opko Health, Inc		1,757
	222,518	*,e	Optimer Pharmaceuticals, Inc		3,080
	189,272		Orchid Chemicals & Pharmaceuticals Ltd		608
	396,863	*,e	Orexigen Therapeutics, Inc		790
	44,768	e	Orion Oyj (Class B)		901
	73,955	*,e	Osiris Therapeutics, Inc		379
	269,254		Otsuka Holdings KK		7,377
	137,685	*,e	Pacific Biosciences of California, Inc		442
	10,563	*,e	Pacira Pharmaceuticals, Inc		105
	164,214	e	Pain Therapeutics, Inc		782
	24,700	*	Paladin Labs, Inc		874
	206,292	*,e	Par Pharmaceutical Cos, Inc		5,491

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	246,388	*,e	Parexel International Corp	$	4,664
	882,900	e	PDL BioPharma, Inc		4,900
	258,092	*,e	Peregrine Pharmaceuticals, Inc		281
	773,485	e	PerkinElmer, Inc		14,859
	297,964	e	Perrigo Co		28,935
	926		Pfizer Ltd		25
	51,389,733		Pfizer, Inc		908,570
	275,008	e	Pharmaceutical Product Development, Inc		7,057
	186,454	*,e	Pharmacyclics, Inc		2,206
	490,135	*,e	Pharmasset, Inc		40,372
	157,944	*,e	PharmAthene, Inc		278
	317,591	*,e	Pharmaxis Ltd		220
	83,670	*,f	Pharmstandard (GDR) (purchased 08/04/10, cost $2,188)		1,599
	193,000	*	Phytohealth Corp		207
	145,992		Piramal Healthcare Ltd		1,060
	123,849	*,e	Pozen, Inc		298
	130,489	*,e	Progenics Pharmaceuticals, Inc		749
	197,500	*	Pronova BioPharma AS		205
	11,171,500		PT Kalbe Farma Tbk		4,090
	30,459	*	Qiagen N.V.		423
	663,087	*,e	Qiagen N.V. (NASDAQ)		9,170
	305,391	*,e	Questcor Pharmaceuticals, Inc		8,325
	170,363		Ranbaxy Laboratories Ltd		1,779
	155,624	*,e	Raptor Pharmaceutical Corp		702
	276,929		Recordati S.p.A.		2,411
	211,545	*,e	Regeneron Pharmaceuticals, Inc		12,312
	16,863		Richter Gedeon Nyrt		2,302
	294,498	*,e	Rigel Pharmaceuticals, Inc		2,168
	80,430	*	RNL BIO Co Ltd		483
	1,100,597		Roche Holding AG.		177,760
	171,000		Rohto Pharmaceutical Co Ltd		2,233
	32,523	*,e	Sagent Pharmaceuticals		658
	304,121	*,e	Salix Pharmaceuticals Ltd		9,002
	215,652	*,e	Sangamo Biosciences, Inc		938
	2,611,630		Sanofi-Aventis		171,785
	381,900	*,e	Santarus, Inc		1,066
	90,469		Santen Pharmaceutical Co Ltd		3,802
	290,147	*,e	Savient Pharmaceuticals, Inc		1,190
	20,600	e	Sawai Pharmaceutical Co Ltd		2,224
	6,955		Schweizerhall Holding AG.		528
	143,752	*,e	Sciclone Pharmaceuticals, Inc		548
	384,510	*,e	Seattle Genetics, Inc		7,329
	7,124	*	Seegene, Inc		465
	153,800		Seikagaku Corp		1,800
	397,024	*,e	Sequenom, Inc		2,021
	216,000		Shandong Luoxin Pharmacy Stock Co Ltd		138
	166,000		Shandong Xinhua Pharmaceutical Co Ltd		38
	299,947	e	Shionogi & Co Ltd		4,438
	2,864,006		Shire Ltd		89,313
	195,108	e	Shire plc (ADR)		18,326
	141,305	*,e	SIGA Technologies, Inc		462
	2,058,000		Sihuan Pharmaceutical Holdings		753

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,260,000		Sino Biopharmaceutical	$	1,487
	4,254,176	*,a	Skyline Venture Fund II Ltd		245
	976,029	*	Skyline Venture Fund III Ltd		214
	339,199	*,e	Spectrum Pharmaceuticals, Inc		2,588
	112,846		Stada Arzneimittel AG.		2,369
	5,318		Stallergenes		344
	246,100		Standard Chemical & Pharma		186
	263,394		Strides Arcolab Ltd		1,891
	53,955	*,e	Sucampo Pharmaceuticals, Inc (Class A)		201
	118,612	*	Sun Pharmaceutical Industries Ltd		188
	606,760		Sun Pharmaceuticals Industries Ltd		5,702
	59,899	*,e	Sunesis Pharmaceuticals, Inc		74
	98,082	*,e	Synta Pharmaceuticals Corp		319
	10,800		Taiko Pharmaceutical Co Ltd		116
	152,759	e,m	Taisho Pharmaceutical Co Ltd		3,786
	46,400	*,e	Takara Bio, Inc		277
	1,303,775	e	Takeda Pharmaceutical Co Ltd		61,836
	213,000		Tanabe Seiyaku Co Ltd		3,960
	150,707	*,e	Targacept, Inc		2,261
	371,223		Tecan Group AG.		26,606
	119,548	e	Techne Corp		8,130
	526,850		Teva Pharmaceutical Industries Ltd		19,520
	2,354,697		Teva Pharmaceutical Industries Ltd (ADR)		87,642
	88,001	*	Theratechnologies, Inc		262
	277,027	*,e	Theravance, Inc		5,579
	1,566,835	*,e	Thermo Electron Corp		79,346
	37,897	*	ThromboGenics NV		859
	472,000		Tong Ren Tang Technologies Co Ltd		439
	15,800	e	Torii Pharmaceutical Co Ltd		326
	9,900		Towa Pharmaceutical Co Ltd		454
	22,411	*,e	Transgene S.A.		243
	16,072	*,e,m	Trius Therapeutics, Inc		101
	55,933	e	Tsumura & Co		1,783
	75,274		TTY Biopharm Co Ltd		207
	990,803	e	UCB S.A.		42,225
	1,670		Unichem Laboratories Ltd		5
	13,440,000	*	United Gene High-Tech Group Ltd		191
	694,000	e	United Laboratories Ltd		526
	256,981	*,e	United Therapeutics Corp		9,634
	1,456,102	*,a,e	Vanda Pharmaceuticals, Inc		7,208
	502,773	*	Vectura Group plc		674
	651,850	*,e	Vertex Pharmaceuticals, Inc		29,033
	288,896	*,e	Vical, Inc		716
	10,720		Virbac S.A.		1,738
	401,461	*,e	Viropharma, Inc		7,254
	333,663	*,e	Vivus, Inc		2,693
	3,171,754	e	Warner Chilcott plc		45,356
	447,159	*,e	Waters Corp		33,756
	4,590,196	*,e	Watson Pharmaceuticals, Inc		313,281
	528,000	*	Winteam Pharmaceutical Group Ltd		74
	72,070	*	Wockhardt Ltd		562
	13,448	*	WuXi PharmaTech Cayman, Inc (ADR)		157

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	155,900	*,e	Xenoport, Inc	$	920
	10,923		Yuhan Corp		993
	214,410	*	Yungjin Pharmaceutical Co Ltd		161
	170,000		YungShin Global Holding Corp		215
	215,313	*,e	Zeltia S.A.		441
	27,000		Zeria Pharmaceutical Co Ltd		462
	245,610	*,e	ZIOPHARM Oncology, Inc		1,083
	26,619	*,e	Zogenix, Inc		49
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		6,506,219
REAL ESTATE - 3.0%
	335,881	e	Abacus Property Group		594
	42,900	*	Able Chintai Holdings, Inc		228
	162,576		Acadia Realty Trust		3,040
	59,009		Acanthe Developpement S.A.		74
	122,295		Acucap Properties Ltd		591
	6,631	*	Advance Residence Investment Corp		12,011
	637,788	*	Aedes S.p.A.		79
	23,655		Aeon Mall Co Ltd		540
	14,825		Affine S.A.		287
	373,213	*	Afirma Grupo Inmobiliario S.A.		64
	125,786	*	Africa Israel Investments Ltd		358
	14,138	*	Africa Israel Properties Ltd		104
	14,200	*	AG Mortgage Investment Trust		266
	3,174,000	e	Agile Property Holdings Ltd		2,059
	66,293	e	Agree Realty Corp		1,444
	356,200		AIMS AMP Capital Industrial REIT		270
	61,110	*	Airport City Ltd		235
	32,000		Airport Facilities Co Ltd		132
	36,608		Akmerkez Gayrimenkul Yatirim Ortakligi AS		428
	8,179	e	Alexander’s, Inc		2,953
	179,908		Alexandria Real Estate Equities, Inc		11,045
	261,684		Aliansce Shopping Centers S.A.		1,751
	1,188,770	e	Allan Gray Property Trust		986
	17,091,079		Allco Commercial Real Estate Investment Trust		10,379
	695		Alliances Developpement Immobilier S.A.		56
	27,817		Allied Properties Real Estate Investment Trust		615
	16,998		Allreal Holding AG.		2,628
	148,718		Alony Hetz Properties & Investments Ltd		640
	5,797	*	AL-ROV Israel Ltd		116
	6,102		Alrov Properties and Lodgings Ltd		79
	87,509		Alstria Office REIT-AG.		1,027
	1,620,400		Amata Corp PCL (Foreign)		570
	1,089,482		AMB Property Corp		26,420
	2,508,451	*	Amer Group Holding		439
	216,739		American Assets Trust,Inc		3,890
	365,404	e	American Campus Communities, Inc		13,597
	498,595	e	American Capital Agency Corp		13,512
	17,900	*	American Capital Mortgage, Inc		299
	133,683		Amot Investments Ltd		323
	1,104,875		AMP NZ Office Trust		724
	332,632		Anant Raj Industries Ltd		388

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,530,392		Annaly Capital Management, Inc	$	75,340
	85,248		Ansal Properties & Infrastructure Ltd		56
	547,273		Anworth Mortgage Asset Corp		3,721
	541,127		Apartment Investment & Management Co (Class A)		11,970
	66,368		Apollo Commercial Real Estate Finance, Inc		874
	202,544	*,e	ARMOUR Residential REIT, Inc		1,377
	75,351		Artis Real Estate Investment Trust		889
	719,000	f	Ascendas India Trust (purchased 05/31/11, cost $565)		422
	2,206,619		Ascendas Real Estate Investment Trust		3,403
	838,586		Ascott Residence Trust		644
	250,714		Ashford Hospitality Trust, Inc		1,760
	2,164,680		Asian Property Development PCL (Foreign)		377
	730,169		Aspen Group		277
	267,673	e	Associated Estates Realty Corp		4,138
	3,318		Atenor Group		138
	390,806		Atrium European Real Estate Ltd		1,860
	359,319		Australand Property Group		790
	462,846		AvalonBay Communities, Inc		52,788
	36,227	*,e	Avatar Holdings, Inc		296
	7,582,323		Ayala Land, Inc		2,504
	9,247,920	m	Ayala Land, Inc (Preference)		21
	74,082		Babcock & Brown Japan Property Trust		147
	9,897,400	*	Bangkokland PCL		158
	1,583		Bayside Land Corp		295
	33,980		Befimmo SCA Sicafi		2,547
	1,878,000		Beijing Capital Land Ltd		334
	706,000		Beijing North Star Co		103
	3,148,950	*	Belle Corp		238
	1,301,413		Beni Stabili S.p.A.		685
	27,000		Beni Stabili S.p.A. (Paris)		14
	156,875		Big Yellow Group plc		582
	670,047		BioMed Realty Trust, Inc		11,103
	233		BLife Investment Corp		1,390
	70,959		Boardwalk Real Estate Investment Trust		3,263
	917,231		Boston Properties, Inc		81,725
	647,956		BR Malls Participacoes S.A.		6,620
	266,311		BR Properties S.A.		2,419
	240,900		Brandywine Realty Trust		1,930
	293,300		Brasil Brokers Participacoes S.A.		923
	150,383	e	BRE Properties, Inc (Class A)		6,367
	435,776	*	Brioschi Sviluppo Immobiliare		70
	129,985		British Israel Investments Ltd		393
	839,207		British Land Co plc		6,181
	617,700		Brookfield Asset Management, Inc		17,084
	5,708	*	Brookfield Multiplex Group		418
	45,000	e	Brookfield Office Properties, Inc		620
	605,528		Brookfield Office Properties, Inc (Toronto)		8,373
	786,403		Bunnings Warehouse Property Trust		1,285
	11,150,000	e	C C Land Holdings Ltd		1,616
	90,089	*	CA Immobilien Anlagen AG.		1,087
	789,000		Cache Logistics Trust		577
	85,275		Calloway Real Estate Investment Trust		2,094

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,191,840		Cambridge Industrial Trust	$	417
	415,037		Camden Property Trust		22,935
	122,445	e	Campus Crest Communities, Inc		1,332
	60,891		Canadian Apartment Properties REIT		1,226
	82,156		Canadian Real Estate Investment Trust		2,797
	3,807,974	e	CapitaCommercial Trust		2,909
	779,224		Capital & Counties Properties		2,036
	571,715	*	Capital & Regional plc		314
	443,998		Capital Lease Funding, Inc		1,603
	1,741,022		Capital Property Fund		1,844
	1,464,404	e	CapitaLand Ltd		2,732
	2,612,474		CapitaMall Trust		3,623
	1,609,480		CapitaMalls Asia Ltd		1,483
	432,100		CapitaMalls Malaysia Trust		177
	837,000		CapitaRetail China Trust		744
	425,781		Capstead Mortgage Corp		4,914
	353,579		Castellum AB		4,308
	1,923,000		Cathay Real Estate Development Co Ltd		761
	–	*,e	CB Richard Ellis Group, Inc (Class A)		0	^
	680,822		CBL & Associates Properties, Inc		7,734
	936,276	*	CBRE Group, Inc		12,602
	861,000	e	CDL Hospitality Trusts		989
	392,371		Cedar Shopping Centers, Inc		1,220
	1,314,000		Central China Real Estate Ltd		259
	98,000		Central Pattana PCL (Foreign)		107
	2,575	*	Centro Properties Group		0	^
	1,581,031	*,e	Centro Retail Group		417
	2,445,725		CFS Gandel Retail Trust		4,104
	953,000		CH Karnchang PCL		181
	695,438		Challenger Diversified Property Group		330
	4,555,636	e	Champion Real Estate Investment Trust		1,740
	873,411		Charter Hall Group		1,402
	49,598		Chatham Lodging Trust		492
	144,271	e	Chesapeake Lodging Trust		1,741
	5,590,813		Cheuk Nang Holdings Ltd		1,894
	1,956,607		Cheung Kong Holdings Ltd		21,212
	7,214,578		Chimera Investment Corp		19,984
	1,300,000		China Aoyuan Property Group Ltd		123
	2,092,000		China Chengtong Development Group Ltd		81
	7,709,080	e	China Overseas Land & Investment Ltd		11,011
	652,000	*	China Properties Group Ltd		146
	5,948,000	e	China Resources Land Ltd		6,397
	1,867,000		China SCE Property Holdings Ltd		420
	3,902,000		China South City Holdings Ltd		488
	2,130,520		China Vanke Co Ltd		1,831
	335,500	e	Chinese Estates Holdings Ltd		555
	271,690		Chong Hong Construction Co		571
	128,619	e	City Developments Ltd		933
	240,670		Citycon Oyj		823
	40,641	*	CLS Holdings plc		368
	734,000	*	Coastal Greenland Ltd		28
	19,869		Cofinimmo		2,339

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	200,973		Cogdell Spencer, Inc	$	758
	26,001	*	Colonia Real Estate AG.		137
	439,017		Colonial Properties Trust		7,973
	133,943	e	Colony Financial, Inc		1,731
	41,498		Cominar Real Estate Investment Trust		851
	5,304,581	e	Commonwealth Property Office Fund		4,565
	20,506	e	Consolidated-Tomoka Land Co		538
	91,624	e	Conwert Immobilien Invest AG.		1,102
	80,345		Coresite Realty		1,153
	51,497		Corio NV		2,373
	187,746		Corporate Office Properties Trust		4,089
	7,295,000	e	Country Garden Holdings Co Ltd		2,016
	510,126		Cousins Properties, Inc		2,984
	1,021		Crescendo Investment Corp		536
	228,785		CreXus Investment Corp		2,032
	1,222,570		Cromwell Group		789
	11,180,000		CSI Properties Ltd		242
	526,700	*	CubeSmart		4,493
	317,851	e	CYS Investments, Inc		3,843
	1,379	e	DA Office Investment Corp		3,567
	75,100		Daibiru Corp		528
	415,000	*	Daikyo, Inc		666
	1,245,900		Daiman Development BHD		689
	112,465	e	Daito Trust Construction Co Ltd		10,311
	517,879		Daiwa House Industry Co Ltd		6,631
	2,700,251		DB RREEF Trust		2,128
	1,287,633	e	DCT Industrial Trust, Inc		5,653
	1,174,183	e	DDR Corp		12,799
	409,483		Delta Corp Ltd		823
	141,521		Derwent London plc		3,154
	66,143	e	Deutsche Euroshop AG.		2,217
	104,168		Deutsche Wohnen AG.		1,384
	172,389		Development Securities plc		509
	879,471	e	DiamondRock Hospitality Co		6,148
	72,893	e	DIC Asset AG.		555
	610,979	e	Digital Realty Trust, Inc		33,702
	6,323,418		DLF Ltd		28,005
	223,981	e	Douglas Emmett, Inc		3,830
	177,321		Douja Promotion Groupe Addoha S.A.		1,707
	454,637		Duke Realty Corp		4,774
	33,194		Dundee Real Estate Investment Trust		1,006
	236,828	e	DuPont Fabros Technology, Inc		4,663
	234,637	e	Dynex Capital, Inc		1,891
	432,600		Eastern & Oriental BHD		194
	121,189	e	EastGroup Properties, Inc		4,622
	432,477		Education Realty Trust, Inc		3,715
	19,877	*	Elbit Imaging Ltd		45
	14,911	*	Electra Real Estate Ltd		42
	503,234		Emira Property Fund		726
	1,304,821		Emlak Konut Gayrimenkul Yatiri		1,671
	4,902,666		Emperor International Holdings		694

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	222,766		Entertainment Properties Trust	$	8,683
	170,153	e	Equity Lifestyle Properties, Inc		10,669
	216,568		Equity One, Inc		3,435
	1,000,385		Equity Residential		51,890
	226,896	e	Essex Property Trust, Inc		27,237
	36,007		Eurobank Properties Real Estate Investment Co		193
	59,253		Eurocommercial Properties NV		2,281
	9,201,000		Evergrande Real Estate Group		2,812
	101,099		Excel Trust, Inc		973
	48,300		Extendicare Real Estate Investment Trust		324
	423,828		Extra Space Storage, Inc		7,896
	217,253		Fabege AB		1,642
	4,710,000		Fantasia Holdings Group Co Ltd		371
	1,639,003		Far East Consortium		259
	335,700		Farglory Land Development Co Ltd		540
	91,274	*	Fastighets AB Balder		328
	204,271	e	Federal Realty Investment Trust		16,834
	740,807	*	FelCor Lodging Trust, Inc		1,726
	17,839,000		Filinvest Land, Inc		444
	94,280		First Capital Realty, Inc		1,529
	446,003	*	First Industrial Realty Trust, Inc		3,568
	203,361	e	First Potomac Realty Trust		2,536
	585,000		First Real Estate Investment Trust		338
	39,010	*	FirstService Corp		1,009
	925,592	e	FKP Property Group		395
	25,120		Fonciere Des Regions		1,752
	491,155	*,e	Forest City Enterprises, Inc (Class A)		5,236
	146,869	*	Forestar Real Estate Group, Inc		1,602
	1,618,849	e	Fortune Real Estate Investment Trust		702
	281,617	e	Franklin Street Properties Corp		3,185
	6,035,200		Franshion Properties China Ltd		942
	637,000		Frasers Centrepoint Trust		697
	534		Frontier Real Estate Investment Corp		4,727
	139	*	Fukuoka REIT Corp		903
	725	*	Future Mall Management Ltd		1
	137,120		GAGFAH S.A.		828
	15,600		Gazit, Inc		264
	20,867		Gecina S.A.		1,824
	1,724,712		General Growth Properties, Inc		20,869
	69,900	*	General Shopping Brasil S.A.		372
	108,596	e	Getty Realty Corp		1,566
	42,240	e	Gladstone Commercial Corp		662
	469,784		Glimcher Realty Trust		3,326
	341,729	*	Global Logistic Properties		429
	267	e	Global One Real Estate Investment Corp		2,046
	4,153,000	*	Global-Estate Resorts, Inc		192
	101,029	*	Globe Trade Centre S.A.		356
	1,414,000		Glorious Property Holdings Ltd		188
	184,721	f	Gold Wheaton Gold Corp (GDR) (purchased 04/28/11, cost $1,519)		673
	72,390		Goldcrest Co Ltd		1,330
	934,968	e	Goodman Property Trust		696

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	131,880		Government Properties Income Trust	$	2,837
	884,831		GPT Group (ASE)		2,661
	556,110	e	Grainger plc		746
	825,011		Great Eagle Holdings Ltd		1,780
	519,328		Great Portland Estates plc		2,736
	1,047,500		Greentown China Holdings Ltd		493
	2,240,171		Growthpoint Properties Ltd		4,916
	8,476,400	*,e	Guangzhou Investment Co Ltd		1,095
	5,275,936	e	Guangzhou R&F Properties Co Ltd		3,883
	1,198,000		GZI Real Estate Investment Trust		517
	18,000		H&R Real Estate Investment Trust		360
	664,815		Hammerson plc		3,892
	111,622		Hang Lung Group Ltd		569
	792,071		Hang Lung Properties Ltd		2,357
	81		Hankyu Reit, Inc		375
	345,179		Hatteras Financial Corp		8,685
	1,070,593		HCP, Inc		37,535
	487,210		Health Care REIT, Inc		22,801
	324,082	e	Healthcare Realty Trust, Inc		5,461
	235,000		Heiwa Real Estate Co Ltd		503
	124,877		Helical Bar plc		377
	14,816		Heliopolis Housing		33
	1,096,098	e	Henderson Land Development Co Ltd		4,921
	638,514		Hersha Hospitality Trust		2,209
	453,000		Highwealth Construction Corp		749
	333,985	e	Highwoods Properties, Inc		9,438
	1,008,800		HKR International Ltd		344
	376,000	e	Ho Bee Investment Ltd		378
	203,495		Home Properties, Inc		11,550
	481,000	*	Hong Fok Corp Ltd		149
	290,000		Hongkong Land Holdings Ltd		1,285
	52,000		Hopefluent Group Holdings Ltd		11
	994,387		Hopewell Holdings		2,853
	1,246,000	e	Hopson Development Holdings Ltd		701
	727,735		Hospitality Properties Trust		15,450
	2,442,178		Host Marriott Corp		26,717
	358,399	*	Housing Development & Infrastruture Ltd		711
	62,503	*,e	Howard Hughes Corp		2,631
	130,446		HRPT Properties Trust		2,475
	614,389		Huaku Development Co Ltd		1,297
	154,000		Huang Hsiang Construction Co		288
	88,900		Hudson Pacific Properties		1,034
	292,523		Hufvudstaden AB (Series A)		2,824
	83,200		Hulic Co Ltd		936
	299,000		Hung Ching Development Co		133
	565,362		Hung Poo Real Estate Development Corp		444
	952,000		Hung Sheng Construction Co Ltd		382
	2,476,000		Hutchison Harbour Ring Ltd		196
	161,587		Hyprop Investments Ltd		1,081
	1,026,976		Hysan Development Co Ltd		3,111
	49,592		Icade		3,875
	1,496,932		IGB Corp BHD		892

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	78,500		Iguatemi Empresa de Shopping Centers S.A.	$	1,315
	20,000		Iida Home Max		169
	1,452,000		IJM Land BHD		885
	339,307		Immobiliare Grande Distribuzione		502
	685,563	*,e	IMMOFINANZ Immobilien Anlagen AG		1,938
	691,248		Indiabulls Real Estate Ltd		1,026
	287		Industrial & Infrastructure Fund Investment Corp		1,480
	122,941		Industrial Buildings Corp		178
	5,316,963		ING Office Fund		3,100
	418,439		Inland Real Estate Corp		3,055
	110,300		InnVest Real Estate Investment Trust		455
	1,845		Intershop Holdings		653
	9,356		Intervest Offices		245
	457,216		Invesco Mortgage Capital, Inc		6,460
	363,541	e	Investors Real Estate Trust		2,617
	1,100,963		Is Gayrimenkul Yatirim Ortakligi AS		690
	397,412	*,e	iStar Financial, Inc		2,313
	120,878	*,e	IVG Immobilien AG.		423
	85,506	*	IVR Prime Urban Developers Ltd		50
	686		Japan Excellent, Inc		3,066
	266	*,e	Japan Logistics Fund Inc		2,324
	1,966	e	Japan Prime Realty Investment Corp		5,048
	472	e	Japan Real Estate Investment Corp		4,615
	1,456		Japan Rental Housing Investments, Inc		570
	6,170	*	Japan Retail Fund Investment Corp		9,920
	52,000		Jereissati Participacoes S.A.		37
	75,354		Jerusalem Economy Ltd		490
	283,800		JHSF Participacoes S.A.		611
	1,150,650		Jiangsu Future Land Co Ltd		535
	1,015		Joint Reit Investment Corp		3,746
	222,082	e	Jones Lang LaSalle, Inc		11,506
	5,024	*	JW Construction Holding S.A.		10
	1,369,036	e	K Wah International Holdings Ltd		270
	3,020,000	*	Kaisa Group Holdings Ltd		728
	228,480		KEE TAI Properties Co Ltd		108
	1,185	*	Kenedix Realty Investment Corp		3,862
	3,075	*,e	Kenedix, Inc		369
	96,230	e	Kennedy-Wilson Holdings, Inc		1,020
	4,080,546	e	Keppel Land Ltd		7,970
	1,830,140		Kerry Properties Ltd		5,842
	58,900	e	Killam Properties, Inc		601
	248,709	e	Kilroy Realty Corp		7,785
	1,520,129	e	Kimco Realty Corp		22,848
	109,000		Kindom Construction Co		71
	453,600		King’s Town Construction Co Ltd		287
	334,820	e	Kite Realty Group Trust		1,225
	1,009,141	e	Kiwi Income Property Trust		819
	5,363,278		KLCC Property Holdings BHD		5,332
	75,987	e	Klepierre		2,130
	240,045		Klovern AB		873
	3,125,130		Kowloon Development Co Ltd		2,659
	488,000		K-REIT Asia		372

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	97,400		KrisAssets Holdings BHD	$	125
	205,554		Kungsleden AB		1,397
	470,000	*	Kuoyang Construction Co Ltd		192
	2,731,500	e	KWG Property Holding Ltd		1,013
	37,423,000		Lai Fung Holdings Ltd		889
	7,827,000	*	Lai Sun Development		128
	1,723,711		Land Securities Group plc		17,131
	445,735	e	LaSalle Hotel Properties		8,558
	2,087		Leasinvest Real Estate SCA		173
	363,903		Lend Lease Corp Ltd		2,444
	186,011	*,e	Leopalace21 Corp		406
	614,819	e	Lexington Corporate Properties Trust		4,021
	539,162		Liberty International plc		2,734
	206,652		Liberty Property Trust		6,016
	3,107,211	e	Link Real Estate Investment Trust		9,817
	1,787,000		Lippo-Mapletree Indonesia Retail Trust		731
	220,000		Liu Chong Hing Investment		180
	584,000		Long Bon International Co Ltd		210
	1,974,500		Longfor Properties Co Ltd		1,960
	2,323,300		LPN Development PCL		822
	121,600		LPN Development PCL (ADR)		43
	63,700		LPS Brasil Consultoria de Imoveis S.A.		1,021
	181,216		LTC Properties, Inc		4,588
	526,694	e	Macerich Co		22,453
	156,299		Mack-Cali Realty Corp		4,181
	830,047		Macquarie CountryWide Trust		2,494
	3,420,572		Macquarie Goodman Group		1,874
	3,055,590		Macquarie MEAG Prime REIT		1,354
	655,484	e	Macquarie Office Trust		2,110
	259,727	*	Maguire Properties, Inc		548
	1,037,000		Mah Sing Group BHD		569
	35,779	*,e,m	Mapeley Ltd		236
	2,178,360		Mapletree Industrial Trust		1,792
	1,846,523	e	Mapletree Logistics Trust		1,196
	463,192		Medical Properties Trust, Inc		4,146
	13,590	*	Medinet Nasr Housing		26
	15,955,000	f	Megaworld Corp (purchased 12/09/10, cost $801)		608
	25,365		Melisron Ltd		372
	42,916		Mercialys S.A		1,529
	263,009		Metric Property Investments plc		407
	1,716,593		MFA Mortgage Investments, Inc		12,050
	401	e	MID Reit, Inc		1,014
	169,567		Mid-America Apartment Communities, Inc		10,211
	1,792,929	e	Midland Holdings Ltd		737
	2,480,000		Mingfa Group		716
	2,658,000		Minmetals Land Ltd		246
	1,721,908		Mirvac Group		1,893
	310,434	e	Mission West Properties, Inc		2,356
	1,216,837		Mitsubishi Estate Co Ltd		19,739
	1,556,322		Mitsui Fudosan Co Ltd		24,587
	6,630		Mobimo Holding AG.		1,594
	140,047	e	Monmouth Real Estate Investment Corp (Class A)		1,111

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	38,521		Morguard Real Estate Investment Trust	$	544
	1,427		Mori Hills REIT Investment Corp		4,801
	865	e	Mori Trust Sogo Reit, Inc		7,970
	111,496		Multiplan Empreendimentos Imobiliarios S.A.		2,067
	360,700		Naim Holdings BHD		188
	100,020		National Health Investors, Inc		4,214
	467,939		National Retail Properties, Inc		12,574
	1,520,000	*	Neo-China Land Group Holdings Ltd		221
	4,856,666	e	New World China Land Ltd		1,172
	16,338,427		New World Development Ltd		15,622
	452,756	e	Newcastle Investment Corp		1,843
	50,764		Nieuwe Steen Investments NV		754
	272	*	Nippon Accommodations Fund, Inc		1,926
	108	e	Nippon Building Fund, Inc		1,118
	48,098	*	Nitsba Holdings 1995 Ltd		352
	74,929		Nomura Real Estate Holdings, Inc		1,134
	503		Nomura Real Estate Office Fund, Inc		3,067
	233		Nomura Real Estate Residential Fund, Inc		1,043
	31,669		Northern Property Real Estate Investment Trust		823
	393,764	e	NorthStar Realty Finance Corp		1,299
	535,190		Norwegian Property ASA		713
	175,270		NRDC Acquisition Corp		1,942
	1,181	e	NTT Urban Development Corp		858
	410,858	e	Omega Healthcare Investors, Inc		6,545
	62,004	e	One Liberty Properties, Inc		909
	757	*	Orix JREIT, Inc		3,479
	499,000	*	Oxley Holdings Ltd		123
	1,228,000		Pacific Century Premium Developments Ltd		160
	825,654	*	Palm Hills Developments SAE		172
	140,920		Paramount Corp BHD		71
	514,000		Parkway Life Real Estate Investment Trust		717
	149,704	e	Parkway Properties, Inc		1,648
	830,165		Parque Arauco S.A		1,360
	358,802	*	Parsvnath Developers Ltd		473
	67,519	*	Patrizia Immobilien AG.		316
	226,460		PAZ Corp S.A.		85
	251,317		Pebblebrook Hotel Trust		3,933
	234,063		Peet Ltd		261
	279,649		Pennsylvania Real Estate Investment Trust		2,162
	111,058		Pennymac Mortgage Investment Trust		1,766
	446,920		Phoenix Mills Ltd		1,954
	307,078	e	Piedmont Office Realty Trust, Inc		4,965
	815,080	*	Pirelli & C Real Estate S.p.A.		226
	398,526	e	Plum Creek Timber Co, Inc		13,833
	2,920,000	e	Poly Hong Kong Investment Ltd		881
	7,091,160		Polytec Asset Holdings Ltd		512
	226,571	e	Post Properties, Inc		7,871
	185,678		Potlatch Corp		5,853
	952,000		Powerlong Real Estate Holdings Ltd		155
	329		Premier Investment Co		1,289
	970,670		Prestige Estates Projects Ltd		1,814
	2,257,100		Preuksa Real Estate PCL (Foreign)		1,030

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	51,816		Primaris Retail Real Estate Investment Trust	$	1,014
	133,366		Primary Health Properties plc		686
	588,600		Prince Housing & Development Corp		415
	3,637		Property & Building Corp		141
	2,466,000		Prosperity REIT		438
	126,960		PS Business Parks, Inc		6,290
	78,154		PSP Swiss Property AG.		7,014
	8,067,500	*	PT Agung Podomoro Land Tbk		290
	24,683,000		PT Alam Sutera Realty Tbk		1,067
	43,477,000		PT Bakrieland Development Tbk		544
	9,218,000		PT Bumi Serpong Damai		902
	8,439,000		PT Ciputra Development Tbk		484
	4,321,000		PT Ciputra Property Tbk		209
	8,872,000	*	PT Intiland Development Tbk		229
	32,236,313		PT Lippo Karawaci Tbk		2,471
	3,515,000	*	PT Pakuwon Jati Tbk		309
	20,729,500	*	PT Sentul City Tbk		580
	4,496,000		PT Summarecon Agung Tbk		507
	657,936		Public Storage, Inc		73,261
	2,003,815	f	Puravankara Projects Ltd (purchased 01/21/08, cost $7,383)		2,675
	8,592,800		Quality House PCL		396
	758,306	*	Quintain Estates & Development plc		473
	265,022		Radium Life Tech Co Ltd		206
	163,644	e	RAIT Investment Trust		555
	229,630		Ramco-Gershenson Properties		1,883
	1,005,315		Raven Russia Ltd		853
	1,338,466		Rayonier, Inc		49,242
	225,280	e	Realty Income Corp		7,263
	3,064,590		Redefine Income Fund Ltd		3,032
	351,956		Redwood Trust, Inc		3,931
	29,934,000	e	Regal Real Estate Investment Trust		5,856
	279,719	e	Regency Centers Corp		9,882
	16,906,500		Renhe Commercial Holdings Co Ltd		1,801
	305,389		Resilient Property Income Fund Ltd		1,231
	273,001	e	Resource Capital Corp		1,365
	386,793		RioCan Real Estate Investment Trust		9,597
	104,864	e	RLJ Lodging Trust		1,339
	2,389,100		Robinsons Land Corp		613
	474,200		Rojana Industrial Park PCL		110
	495,000		Ruentex Development Co Ltd		482
	2,480,188		S.A. Corporate Real Estate Fund		997
	5,056,000		Sabana Shari’ah Compliant Industrial REIT		3,312
	228,821		Sabra Healthcare REIT, Inc		2,183
	38,790		Sankei Building Co Ltd		189
	2,480,483		Sansiri PCL		380
	59,568		Saul Centers, Inc		2,014
	260,506		Savills plc		1,154
	166,970		SC Global Developments Ltd		143
	730,938		Segro plc		2,493
	678,399		Senior Housing Properties Trust		14,613
	656,545		Shaftesbury plc		4,743

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	542,840		Shanghai Jinqiao Export Processing Zone Development Co Ltd	$	400
	1,217,200		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		1,365
	21,738,000	e	Shanghai Real Estate Ltd		1,009
	650,000		Shanghai Zendai Property Ltd		15
	4,666,000		Shenzhen Investment Ltd		854
	335,100	*	Shenzhen Special Economic Zone Real Estate & Properties Group Co Ltd		103
	6,222,500	e	Shimao Property Holdings Ltd		4,674
	693,450	*	Shining Building Business Co Ltd		635
	42,200	e	Shoei Co Ltd		335
	7,338,305	e	Shui On Land Ltd		1,766
	2,750,000		Silver Grant International		489
	1,658,897		Simon Property Group, Inc		182,446
	214,000		Singapore Land Ltd		949
	1,341,259	e	Sino Land Co		1,771
	2,132,000	*	Sinolink Worldwide Holdings Ltd		149
	14,216,557		Sino-Ocean Land Holdings Ltd		4,527
	1,218,638		Sinpas Gayrimenkul Yatirim Ortakligi AS		944
	561,800		Sinyi Realty Co		724
	66,083		Six of October Development & Investment		142
	522,165		SL Green Realty Corp		30,364
	2,362,662		SM Development Corp		397
	6,642,652		SM Prime Holdings		1,845
	270,179		Sobha Developers Ltd		1,190
	6,768		Societe de la Tour Eiffel		384
	16,183	e	Societe Immobiliere de Location pour l’Industrie et le Commerce		1,562
	7,303,500		Soho China Ltd		4,611
	28,700		Sonae Sierra Brasil S.A.		339
	407,779	*	Songbird Estates plc		738
	98,000		Soundwill Holdings Ltd		91
	125,503		Sovran Self Storage, Inc		4,665
	1,212,475		SP Setia BHD		1,473
	67,678	*	Sparkassen Immobilien AG.		357
	2,945,929	e	SPG Land Holdings Ltd		593
	567,976		Sponda Oyj		2,133
	312,730		ST Modwen Properties plc		569
	119,208	*,e	St. Joe Co		1,787
	62,477	e	STAG Industrial, Inc		637
	622,318		Starwood Property Trust, Inc		10,679
	4,184,062		Stockland Trust Group		11,646
	945,726	*	Strategic Hotels & Resorts, Inc		4,076
	23,870		Sumitomo Real Estate Sales Co Ltd		1,011
	679,362		Sumitomo Realty & Development Co Ltd		13,059
	109,493		Summit Hotel Properties, Inc		773
	93,470	e	Sun Communities, Inc		3,289
	1,865,047		Sun Hung Kai Properties Ltd		21,397
	936,000	*	Sunac China Holdings Ltd		167
	2,514,000		Sunlight Real Estate Investment Trust		647
	640,674	*,e	Sunstone Hotel Investors, Inc		3,645

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,309,000		Suntec Real Estate Investment Trust	$	2,893
	1,704,952		Sunteck Realty Ltd		10,792
	694,222	*	Sunway BHD		411
	1,213,000		Sunway Real Estate Investment		421
	2,691,000		Supalai PCL		1,125
	1,122,114	e	Swire Pacific Ltd (Class A)		11,530
	85,660		Swiss Prime Site AG.		6,902
	93,619		Sycom Property Fund		245
	1,047,200		TA Global BHD		94
	72,555	*,e	TAG Tegernsee Immobilien und Beteiligungs AG.		585
	864,000		TAI Cheung Holdings		575
	391,741	*	Taiwan Land Development Corp		150
	1,213,041	*	Talaat Moustafa Group		746
	21,181,700		Tanayong PCL		400
	472,963	e	Tanger Factory Outlet Centers, Inc		12,302
	368,622		Taubman Centers, Inc		18,545
	137,437		Technopolis plc		581
	57,003	*,e	Tejon Ranch Co		1,361
	59,492	e	Terreno Realty Corp		763
	745,000	*,e	Thomas Properties Group, Inc		1,699
	1,316,800		Ticon Industrial Connection PCL		501
	53,341	*	TK Development		138
	106,800		TOC Co Ltd		514
	28,400		Toho Real Estate Co Ltd		152
	3,346,482		Tokyo Tatemono Co Ltd		10,184
	1,980,329		Tokyu Land Corp		7,118
	28,000		Tokyu Livable, Inc		250
	296	*	Tokyu REIT, Inc		1,588
	148,000		Tomson Group Ltd		35
	901		Top REIT Inc		4,883
	218,242		Torunlar Gayrimenkul Yatirim Ortakligi AS		591
	14,449	e	Tosei Corp		3,915
	685,760	e	Two Harbors Investment Corp		6,055
	715,885		UDR, Inc		15,850
	994,596	*	UEM Land Holdings BHD		537
	48,126	e	UMH Properties, Inc		437
	109,877		Unibail		19,606
	372,571	*	Unite Group plc		957
	7,639,635	*	Unitech Corporate Parks plc		2,993
	16,809,188		Unitech Ltd		8,918
	6,770,000	*	United Energy Group Ltd		818
	1,202,637		United Overseas Land Ltd		3,790
	11,343		United Urban Investment Corp		11,877
	46,093	e	Universal Health Realty Income Trust		1,549
	91,354	e	Urstadt Biddle Properties, Inc (Class A)		1,459
	24,524		Vastned Offices/Industrial		319
	25,284		Vastned Retail NV		1,200
	1,295,987	e	Ventas, Inc		64,022
	7,557,000		Vista Land & Lifescapes, Inc		524
	687,944		Vornado Realty Trust		51,334
	182,555		Vukile Property Fund Ltd		324
	117,890		Wallenstam Byggnads AB (B Shares)		1,070

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,047		Warehouses De Pauw SCA	$	1,090
	270,275	e	Washington Real Estate Investment Trust		7,616
	215,888	e	Weingarten Realty Investors		4,570
	3,525		Wereldhave Belgium NV		306
	31,574		Wereldhave NV		2,221
	7,541,788		Westfield Group		55,928
	7,246,585		Westfield Retail Trust		16,865
	1,527,678		Weyerhaeuser Co		23,755
	2,035,213	e	Wharf Holdings Ltd		10,041
	1,564,857		Wheelock & Co Ltd		4,630
	374,097		Wheelock Properties S Ltd		462
	27,832		Whitestone REIT		310
	178,057		Wihlborgs Fastigheter AB		2,249
	720,267		Wing Tai Holdings Ltd		667
	115,672	e	Winthrop Realty Trust		1,005
	275,702		Workspace Group plc		926
	965,000	e	Yanlord Land Group Ltd		517
	150,759		YNH Property BHD		80
	727,600	*	YTL Land & Development BHD		190
	538,000		Yuzhou Properties Co		113
	4,782,800	*	Zhong An Real Estate Ltd		611
	550,000	*	Zhuguang Holdings Group Co Ltd		77
	56,590	*	Zueblin Immobilien Holding AG.		180
			TOTAL REAL ESTATE		2,638,489
RETAILING - 3.8%
	164,729	*,e	1-800-FLOWERS.COM, Inc (Class A)		382
	197,562	*	99 Cents Only Stores		3,639
	348,324	e	Aaron’s, Inc		8,795
	17,901		ABC-Mart, Inc		688
	543,059	e	Abercrombie & Fitch Co (Class A)		33,431
	397,500	e	Advance Auto Parts, Inc		23,095
	412,350	*,e	Aeropostale, Inc		4,458
	55,200		Alpen Co Ltd		1,025
	1,951,614	*	Amazon.com, Inc		421,998
	851,772	e	American Eagle Outfitters, Inc		9,983
	38,177	*	America’s Car-Mart, Inc		1,108
	30,726		Amsterdam Commodities NV		395
	300,134	*,e	Ann Taylor Stores Corp		6,855
	46,600		AOKI Holdings, Inc		714
	72,341		Aoyama Trading Co Ltd		1,254
	85,284		ARB Corp Ltd		666
	40,900		Arc Land Sakamoto Co Ltd		811
	17,200		Asahi Co Ltd		413
	116,388	*,e	Asbury Automotive Group, Inc		1,919
	26,400	e	ASKUL Corp		378
	248,550	*	ASOS plc		5,856
	125,104	*,e	Audiovox Corp (Class A)		687
	274,000		Aurora Corp		391
	46,778		Autobacs Seven Co Ltd		2,099
	172,439		Automotive Holdings Group		318
	119,981	*,e	Autonation, Inc		3,933

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	203,917	*,e	Autozone, Inc	$	65,088
	80,479		B2W Companhia Global Do Varejo		629
	129,094	e	Barnes & Noble, Inc		1,527
	50,661		BasicNet S.p.A		128
	146,028	e	Bebe Stores, Inc		981
	2,173,145	*,e	Bed Bath & Beyond, Inc		124,542
	6,046,600	e,f	Belle International Holdings Ltd (purchased 10/06/09, cost $8,290)		10,424
	31,300		Belluna Co Ltd		271
	1,201,109	e	Best Buy Co, Inc		27,986
	66,000	*	Best Denki Co Ltd		187
	37,962		Beter BED Holding NV		691
	2,010	e	BIC CAMERA, Inc		1,090
	124,836	e	Big 5 Sporting Goods Corp		759
	137,825	*,e	Big Lots, Inc		4,800
	66,001	e	Bilia AB (A Shares)		839
	53,073	*,e	Blue Nile, Inc		1,872
	96,111	*,e	Body Central Corp		1,745
	5,658,000		Bonjour Holdings Ltd		802
	64,162	e	Bon-Ton Stores, Inc		319
	1,196,000		Boshiwa International Holding		218
	330,272	*	Boyner Buyuk Magazacilik		529
	185,632	e	Brown Shoe Co, Inc		1,322
	113,552	e	Buckle, Inc		4,367
	68,177	*,e	Build-A-Bear Workshop, Inc		348
	46,241		Byggmax Group AB		191
	199,220	*,e	Cabela’s, Inc		4,082
	108,862		Canadian Tire Corp Ltd		5,921
	147,400	*	Canon Marketing Japan, Inc		1,799
	410,623	*,e	Carmax, Inc		9,793
	42,504	e	Carpetright plc		328
	10,585		Cashbuild Ltd		135
	203,420	*,e	Casual Male Retail Group, Inc		765
	114,328	e	Cato Corp (Class A)		2,579
	71,294	*	CDON Group AB		261
	50,701		CFAO S.A.		1,815
	18,310		Charles Voegele Holding AG.		551
	497,354	*,e	Charming Shoppes, Inc		1,293
	1,164,849	e	Chico’s FAS, Inc		13,314
	243,128	*,e	Children’s Place Retail Stores, Inc		11,313
	33,400		Chiyoda Co Ltd		562
	1,492,000	e	Chow Sang Sang Holding		3,214
	154,531		Christopher & Banks Corp		545
	194,600		Cia Hering		3,251
	71,174	*,e	Citi Trends, Inc		838
	3,813		CJ O Shopping Co Ltd		844
	49,700	e	Clas Ohlson AB (B Shares)		543
	741,630		Clicks Group Ltd		3,437
	312,554	*,e	Coldwater Creek, Inc		391
	304,089	*,e	Collective Brands, Inc		3,941
	84,099	*,e	Conn’s, Inc		604
	57,676	*	Core-Mark Holding Co, Inc		1,767

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	78,160	*,e	Cost Plus, Inc	$	492
	39		Daesung Industrial Co Ltd		1
	8,270	*	Daewoo Motor Sales		9
	1,706,000		Dah Chong Hong Holdings Ltd		1,751
	215,700	*,e	Daiei, Inc		793
	3,431,805	e	David Jones Ltd		9,867
	285,000	e	DCM Japan Holdings Co Ltd		2,493
	2,733,189	e	Debenhams plc		2,387
	37,103		Delek Automotive Systems Ltd		268
	14,792		Delticom AG.		1,276
	46,782	e	Destination Maternity Corp		602
	432,338	*,e	Dick’s Sporting Goods, Inc		14,466
	14,752,000		Dickson Concepts International Ltd		7,110
	30,350		D’ieteren S.A.		1,504
	139,734	e	Dillard’s, Inc (Class A)		6,076
	70,073	*	Dogus Otomotiv Servis ve Ticaret AS		158
	316,511	*,e	Dollar General Corp		11,951
	440,869	*	Dollar Tree, Inc		33,114
	105,704		Dollarama, Inc		3,662
	61,500		Don Quijote Co Ltd		2,196
	10,381		Dongsuh Co, Inc		282
	11,300		Doshisha Co Ltd		326
	29,936	e	Douglas Holding AG.		1,175
	4,997,135	*,e	DSG International plc		890
	182,140	e	DSW, Inc (Class A)		8,411
	26,965	*	Dufry Group		2,357
	138,446	e	Dunelm Group plc		1,018
	426,000	*,e	E-Commerce China Dangdang, Inc (ADR)		2,104
	145,983	e	EDION Corp		1,222
	316,000		E-LIFE MALL Corp		493
	4,030,000		Emperor Watch & Jewellery Ltd		480
	366,350		Empresas Hites S.A.		204
	232,917		Empresas La Polar S.A.		191
	4,988,961	e	Esprit Holdings Ltd		6,042
	3,912	*	Etam Developpement S.A.		75
	1,535,040	e	Expedia, Inc		39,527
	327,434	e	Express Parent LLC		6,644
	386,013	e	Family Dollar Stores, Inc		19,633
	1,490,288		Far Eastern Department Stores Co Ltd		1,938
	74,689	e	Fast Retailing Co Ltd		13,377
	17,441	e	Fielmann AG.		1,747
	677,786	*	Findel plc		50
	247,201	e	Finish Line, Inc (Class A)		4,942
	2,845,517	e	Foot Locker, Inc		57,166
	300,867		Foschini Ltd		3,155
	54,239		Fourlis Holdings S.A.		210
	31,900	*	Francesca’s Holdings Corp		677
	196,780	e	Fred’s, Inc (Class A)		2,098
	24,400		Fuji Co Ltd		586
	6,553,036	e	Game Group plc		2,420
	2,182,499	*,e	GameStop Corp (Class A)		50,416
	622,372	e	Gap, Inc		10,107

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	114,018	*,e	Genesco, Inc	$	5,875
	658,728	e	Genuine Parts Co		33,463
	760	e	Geo Corp		914
	4,158,000		Giordano International Ltd		2,715
	110,701	*,e	GNC Holdings, Inc		2,227
	1,223,300		Golden Eagle Retail Group Ltd		2,493
	290,000		Goldlion Holdings Ltd		102
	21,600		Golf & Co Ltd		82
	15,700,408	e	GOME Electrical Appliances Holdings Ltd		3,611
	22,926	*,e	Gordmans Stores, Inc		274
	106,081	e	Group 1 Automotive, Inc		3,771
	148,825	e	Grupo Elektra S.A. de C.V.		11,354
	316,500	*	Grupo Famsa SAB de C.V.		251
	–	*,e	Gruppo Coin S.p.A.		0	^
	3,788		GS Home Shopping, Inc		338
	118,619		Guess?, Inc		3,379
	13,450		Gulliver International Co Ltd		591
	1,048		GwangjuShinsegae Co Ltd		148
	93,500		Hai-O Enterprise BHD		48
	279,278	e	Halfords Group plc		1,268
	124,825	e	Hankyu Department Stores, Inc		997
	442,908	e	Harvey Norman Holdings Ltd		910
	78,196	e	Haverty Furniture Cos, Inc		781
	46,859	*	Hellenic Duty Free Shops S.A.		406
	7,272,000		Hengdeli Holdings Ltd		2,495
	868,773		Hennes & Mauritz AB (B Shares)		26,013
	78,247	*,e	hhgregg, Inc		763
	113,707	*,e	Hibbett Sports, Inc		3,854
	27,401	e	Hikari Tsushin, Inc		649
	5,502,334		Home Depot, Inc		180,861
	4,144,983		Home Product Center PCL		1,239
	1,162,660	e	Home Retail Group		2,020
	73,601	*,e	HomeAway, Inc		2,474
	20,620	e	Honeys Co Ltd		298
	164,228	e	Hot Topic, Inc		1,253
	163,935	*,e	HSN, Inc		5,431
	898,000		Huiyin Household Appliances		71
	34,998		Hyundai Department Store Co Ltd		4,897
	39,640		Hyundai H&S Co Ltd		471
	12,222		Hyundai Home Shopping Network Corp		1,418
	550,225		Imperial Holdings Ltd		7,152
	614,301		Inchcape plc		2,653
	381,702		Inditex S.A.		32,584
	14,492	*	Interpark Corp		56
	932,000	e	Intime Department Store Group Co Ltd		1,032
	270,087	*	Isetan Mitsukoshi Holdings Ltd		2,734
	578,000		IT Ltd		357
	74,800	e	Izumi Co Ltd		1,159
	358,727		J Front Retailing Co Ltd		1,703
	214,687		Jardine Cycle & Carriage Ltd		6,822
	132,204	e	JB Hi-Fi Ltd		1,916
	289,884	e	JC Penney Co, Inc		7,763

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	351,715		JD Group Ltd	$	1,658
	84,046		John Menzies plc		638
	114,085	*,e	JOS A Bank Clothiers, Inc		5,320
	55,000	e	Joshin Denki Co Ltd		640
	156,928		JUMBO S.A.		810
	89,867	e	KappAhl Holding AB		180
	73,187	e	Keiyo Co Ltd		460
	926,020	e	Kesa Electricals plc		1,203
	3,203,511	e	Kingfisher plc		12,301
	79,882	*,e	Kirkland’s, Inc		733
	1,939,942	e	Kohl’s Corp		95,251
	27,400	e	Kohnan Shoji Co Ltd		483
	26,200		Kojima Co Ltd		185
	47,900		Komeri Co Ltd		1,570
	80,903	e	K’s Holdings Corp		3,175
	2,090,500	*	L’ Occitane International S.A.		4,211
	13,195		LES Enphants Co Ltd		12
	220,394		Lewis Group Ltd		1,904
	9,212,777	e	Li & Fung Ltd		15,372
	1,942,649	*	Liberty Media Holding Corp (Interactive A)		28,693
	1,019,502	e	Lifestyle International Holdings Ltd		2,586
	2,027,623		Limited Brands, Inc		78,083
	86,659	e	Lithia Motors, Inc (Class A)		1,246
	415,270	*	LKQ Corp		10,033
	409,414		Lojas Americanas S.A.		3,092
	187,249		Lojas Renner S.A.		5,044
	637,409		Lookers plc		514
	29,790		Lotte Midopa Co Ltd		393
	15,692		Lotte Shopping Co Ltd		5,293
	7,380,684		Lowe’s Cos, Inc		142,741
	398,000		Luk Fook Holdings International Ltd		1,164
	94,490	*,e	Lumber Liquidators, Inc		1,427
	5,284,033	e	Macy’s, Inc		139,076
	62,500	*	Magazine Luiza S.A.		390
	87,520	*,e	MarineMax, Inc		566
	1,171,207		Marks & Spencer Group plc		5,703
	1,102,897	e	Marui Co Ltd		8,292
	37,800	*,e	Matsuya Co Ltd		243
	39,750		Megane TOP Co Ltd		413
	45,187		Mekonomen AB		1,400
	241,523	e	Men’s Wearhouse, Inc		6,299
	499,004		Mercuries & Associates Ltd		458
	607,200		Metro Holdings Ltd		300
	1,795,276	*,e	MFI Furniture plc		2,847
	482	*	Midas, Inc		4
	44,325		Mobilezone Holding AG.		451
	126,305	e	Monro Muffler, Inc		4,164
	104,217	e	Mothercare plc		509
	644,268		Mr Price Group Ltd		5,339
	2,095,305		Myer Holdings Ltd		4,078
	323,848		N Brown Group plc		1,352
	13,000		Nafco Co Ltd		247

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	341,000		National Petroleum Co Ltd	$	344
	52,771	*	NET Holding AS.		44
	238,381	*,e	NetFlix, Inc		26,975
	3,977,194		New Carphone Warehouse plc		20,890
	1,033,000	e	New World Department Store China Ltd		575
	91,931	*,e	New York & Co, Inc		293
	482,242		Next plc		18,906
	19,033		NFI Empik Media & Fasion S.A.		50
	94,000		Nice Holdings, Inc		204
	77,100	e	Nishimatsuya Chain Co Ltd		620
	93,100		Nissen Holdings Co Ltd		616
	25,777		Nitori Co Ltd		2,595
	776,432	e	Nordstrom, Inc		35,467
	111,672	e	Nutri/System, Inc		1,352
	2,421,969	*	Ocado Ltd		3,557
	1,534,000	*	Oceanus Group Ltd		145
	1,176,898	*	Office Depot, Inc		2,424
	1,611,564	*,e	OfficeMax, Inc		7,816
	137,289	*,e	Orbitz Worldwide, Inc		298
	551,408	*,e	O’Reilly Automotive, Inc		36,740
	1,136,000		OSIM International Ltd		927
	12,100		Otsuka Kagu Ltd		110
	55,672	*,e	Overstock.com, Inc		516
	1,289,280		Pacific Brands Ltd		825
	270,976	*,e	Pacific Sunwear Of California, Inc		325
	5,950		Pal Co Ltd		210
	46,900		Paltac Corp		875
	2,590,202		Pantaloon Retail India Ltd		10,366
	61,782	e	Parco Co Ltd		483
	36,800	e	Paris Miki, Inc		346
	555,660		Parkson Holdings BHD		982
	1,965,000	e	Parkson Retail Group Ltd		2,375
	4,488,000		PCD Stores Ltd		557
	1,765,064	*	Pendragon plc		258
	205,926	e	Penske Auto Group, Inc		3,295
	261,451	e	PEP Boys - Manny Moe & Jack		2,581
	90,588	e	PetMed Express, Inc		815
	983,473	e	Petsmart, Inc		41,945
	588,234	*,e	Pier 1 Imports, Inc		5,753
	21,970		Point, Inc		1,111
	2,118,000	*	Pou Sheng International Holdings Ltd		281
	57,228		PPR		7,397
	80,287	e	Praktiker Bau- und Heimwerkermaerkte AG.		342
	109,213		Premier Investments Ltd		550
	254,098	*,e	Priceline.com, Inc		114,207
	541,669		Prraneta Industries Ltd		134
	2,173,000		PT Ramayana Lestari Sentosa Tbk		169
	404,512	e	RadioShack Corp		4,700
	11,661	*	Rakuten, Inc		13,586
	111,837		Reitmans Canada Ltd		1,622
	26,076		Reject Shop Ltd		237
	303,611	e	Rent-A-Center, Inc		8,334

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	156,745	*,e	RNB Retail and Brands AB	$	53
	694,400		Robinson Department Store PCL		748
	171,722		RONA, Inc		1,657
	854,565		Ross Stores, Inc		67,246
	62,629	*,e	Rue21, Inc		1,421
	47,000		Ryohin Keikaku Co Ltd		2,591
	3,398,000	e	SA SA International Holdings Ltd		2,015
	611,943		SACI Falabella		4,885
	526,953	*,e	Saks, Inc		4,611
	621,132	*,e	Sally Beauty Holdings, Inc		10,311
	60,500	e	Sanrio Co Ltd		2,835
	68,278	*,e	Sears Holdings Corp		3,927
	355,135	*,e	Select Comfort Corp		4,961
	72,400		Senshukai Co Ltd		546
	25,250	*	Seobu Truck Terminal Co Ltd		477
	93,700		Shimachu Co Ltd		2,257
	32,345		Shimamura Co Ltd		3,391
	16,600		Shimojima Co Ltd		240
	12,167		Shinsegae Co Ltd		2,811
	1,442,000		Shirble Department Stores		150
	43,635	*,e	Shoe Carnival, Inc		1,030
	87,090		Shopper’s Stop Ltd		618
	120,402	*,e	Shutterfly, Inc		4,958
	655,000		Sichuan Xinhua Winshare Chainstore Co Ltd		262
	355,138	*,e	Signet Jewelers Ltd		12,004
	577,000		Silver base Group Holdings Ltd		510
	189,675	e	Sonic Automotive, Inc (Class A)		2,047
	17,994	*,e	Sourceforge, Inc		364
	1,992,000		Sparkle Roll Group Ltd		141
	375,396	*	Sports Direct International plc		1,264
	184,768	e	Stage Stores, Inc		2,563
	4,569,745	e	Staples, Inc		60,778
	65,900		Start Today Co Ltd		1,428
	380,192		Statoil Fuel & Retail ASA		2,799
	134,058	e	Stein Mart, Inc		838
	41,674	e	Stockmann Oyj Abp (B Share)		701
	11,385	*	Suny Electronic, Inc Ltd		51
	113,711		Super Cheap Auto Group Ltd		691
	4,845,506	*	Super Group Ltd		504
	35,840	*	SuperGroup plc		575
	27,071	*,e	Syms Corp		237
	50,539	e	Systemax, Inc		643
	1,431,095	e	Takashimaya Co Ltd		10,437
	36,569		Takihyo Co Ltd		210
	42,189		Takkt AG.		508
	2,327,992	*,e	Talbots, Inc		6,286
	7,201,133		Target Corp		353,145
	30,171	*,e	Teavana Holdings, Inc		614
	181		Telepark Corp		397
	7,161,605		Test-Rite International Co		5,091
	540,123	e	Tiffany & Co		32,850
	1,642,970	e	TJX Companies, Inc		91,135

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	219,475		Topps Tiles plc	$	116
	299,847	e	Tractor Supply Co		18,755
	1,143		Trent Ltd		26
	618,129		Truworths International Ltd		5,373
	170,000		Tsann Kuen Enterprise Co Ltd		325
	175,603		Tsutsumi Jewelry Co Ltd		4,254
	186,015	*,e	Tuesday Morning Corp		655
	200,131	*,e	Ulta Salon Cosmetics & Fragrance, Inc		12,454
	563,399	e	United Arrows Ltd		10,703
	539,825	*,e	Urban Outfitters, Inc		12,049
	54,490	*,e	US Auto Parts Network, Inc		276
	67,965		USS Co Ltd		5,779
	6,854		Valora Holding AG.		1,485
	164,367	*,e	Valuevision International, Inc (Class A)		388
	110,702	*	Vitamin Shoppe, Inc		4,145
	158,765		Warehouse Group Ltd		386
	88,110	*,e	West Marine, Inc		678
	503,773	*,e	Wet Seal, Inc (Class A)		2,257
	422,787		WH Smith plc		3,240
	275,134	e	Williams-Sonoma, Inc		8,471
	8,018	e	Winmark Corp		371
	1,604,810		Woolworths Holdings Ltd		6,929
	137,041	e	Wotif.com Holdings Ltd		519
	41,500		Xebio Co Ltd		1,057
	196,506	e	Yamada Denki Co Ltd		13,667
	86,400		Yokohama Reito Co Ltd		657
	50,638	*	Yoox S.p.A		649
	136,463	*,e	Zale Corp		389
	3,016	*	zooplus AG.		179
	84,366	*,e	Zumiez, Inc		1,477
			TOTAL RETAILING		3,402,299
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.4%
	179,184	*	Advanced Analogic Technologies, Inc		776
	200,251	*,e	Advanced Energy Industries, Inc		1,726
	3,792,599	*,e	Advanced Micro Devices, Inc		19,266
	5,908,016		Advanced Semiconductor Engineering, Inc		5,037
	44,293		Advanced Wireless Semiconductor Co		35
	118,812	e	Advantest Corp		1,281
	174,597	e	Aixtron AG.		2,533
	139,000		Alcor Micro Corp		184
	544,000		ALI Corp		601
	88,778	*,e	Alpha & Omega Semiconductor Lt		729
	860,723	e	Altera Corp		27,139
	549,934	*,e	Amkor Technology, Inc		2,398
	35,429	*,e	Amtech Systems, Inc		283
	337,713	*,e	Anadigics, Inc		729
	912,963	e	Analog Devices, Inc		28,530
	284,000		Anpec Electronics Corp		197
	25,736,000	*	Apollo Solar Energy Technology Holdings Ltd		990
	2,515,131	e	Applied Materials, Inc		26,032
	257,997	*,e	Applied Micro Circuits Corp		1,385

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	180,788		Ardentec Corp	$	105
	1,914,903	e	ARM Holdings plc		16,376
	10,331	*	Asia Pacific Systems, Inc		100
	111,531	e	ASM International NV		2,763
	419,762	e	ASM Pacific Technology		4,097
	395,446		ASML Holding NV		13,674
	905,784	*	Atmel Corp		7,310
	162,894	*,e	ATMI, Inc		2,577
	26,630	*	Atto Co Ltd		149
	92,910		AUK Corp		175
	23,847	e	Austriamicrosystems AG.		938
	2,302,752	e	Avago Technologies Ltd		75,461
	441,069	*,e	Axcelis Technologies, Inc		529
	5,100	e	Axell Corp		118
	139,730	*,e	AXT, Inc		704
	32,055		BE Semiconductor Industries NV		197
	382,000		Bright Led Electronics Corp		196
	3,753,229	e	Broadcom Corp (Class A)		124,946
	342,701		Brooks Automation, Inc		2,793
	113,128	*,e	Cabot Microelectronics Corp		3,890
	48,309		Capella Microsystems Taiwan, Inc		164
	195,036	*,e	Cavium Networks, Inc		5,268
	46,877		Centrotherm Photovoltaics AG.		957
	94,366	*,e	Ceva, Inc		2,294
	11,538	*,e,m	China Energy Savings Technology, Inc		0	^
	8,760,000		China Resources Microelectronics Ltd		538
	614,000		Chipbond Technology Corp		553
	382,085	*,e	Cirrus Logic, Inc		5,632
	133,803		Cohu, Inc		1,322
	824,000		Comtec Solar Systems Group Ltd		113
	330,000		Contrel Technology Co Ltd		110
	197,032	*,e	Cree, Inc		5,119
	299,213		Crystalwise Technology, Inc		242
	237,381		CSR plc		771
	30,574	*	CSR plc (ADR)		408
	161,456	*,e	Cymer, Inc		6,003
	742,516	e	Cypress Semiconductor Corp		11,115
	322,616	e	Dainippon Screen Manufacturing Co Ltd		1,972
	115,874		DelSolar Co Ltd		100
	74,209	*	Dialog Semiconductor plc		1,256
	146,212	*,e	Diodes, Inc		2,620
	43,372	e	Disco Corp		2,050
	7,046	*	DMS Co Ltd		22
	146,849	*,e	DSP Group, Inc		866
	48,462	*	Duksan Hi-Metal Co Ltd		1,095
	683,753		Dynamic Electronics Co Ltd		242
	111,864		Edison Opto Corp		242
	846,000		Elan Microelectronics Corp		898
	11,000		Elite Advanced Laser Corp		19
	252,000		Elite Semiconductor Memory Technology, Inc		263
	12,506		ELK Corp		116
	29,359		Elmos Semiconductor AG.		266

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	708,854	*,e	Elpida Memory, Inc	$	4,434
	209,571		eMemory Technology, Inc		458
	243,409		ENE Technology, Inc		171
	781,191	*,e	Entegris, Inc		4,984
	349,232	*,e	Entropic Communications, Inc		1,442
	8,127		Eo Technics Co Ltd		170
	192,000	*	Episil Technologies, Inc		70
	963,578		Epistar Corp		1,674
	292,000	*	E-Ton Solar Tech Co Ltd		144
	859,997		Etron Technology, Inc		293
	11,328		Eugene Technology Co Ltd		128
	171,370	*	Exar Corp		979
	4,198,807	*,e	Fairchild Semiconductor International, Inc		45,347
	339,101		Faraday Technology Corp		325
	49,800	e	Ferrotec		640
	170,773	*,e	First Solar, Inc		10,795
	878,000		Forhouse Corp		487
	193,208	*	Formfactor, Inc		1,204
	353,000		Formosa Advanced Technologies Co Ltd		308
	262,000		Formosa Epitaxy, Inc		173
	4,970,060	*,e	Freescale Semiconductor Holdings Ltd		54,820
	166,807	*,e	FSI International, Inc		315
	3,000		Furuya Metal Co Ltd		142
	9,521,000		GCL Poly Energy Holdings Ltd		2,478
	23,213	*	GemVax & Kael Co Ltd		782
	195,910	*	Genesis Photonics, Inc		259
	26,150		Giga Solar Materials Corp		294
	369,599		Gintech Energy Corp		471
	172,000		Global Mixed Mode Technology, Inc		462
	127,000		Global Unichip Corp		505
	983,000		Greatek Electronics, Inc		674
	100,757		Green Energy Technology, Inc		113
	90,827	*,e	GSI Technology, Inc		447
	704,953	*,e	GT Solar International, Inc		4,949
	4,664		Hana Micron, Inc		32
	65,320		Hanmi Semiconductor Co Ltd		288
	5,435		Hansol LCD, Inc		85
	134,637		Harvatek Corp		69
	2,008,000	*	Heng Xin China Holdings Ltd		150
	133,378	*,e	Hittite Microwave Corp		6,496
	458,000		Holtek Semiconductor, Inc		440
	225,862		Huga Optotech, Inc		116
	1,198,230		Hynix Semiconductor, Inc		21,144
	24,010	*	Iljin Display Co Ltd		153
	3,333,588		Infineon Technologies AG.		24,597
	1,752,377	*	Inotera Memories, Inc		371
	80,688	*,e	Inphi Corp		708
	676,722	*	Integrated Device Technology, Inc		3,485
	42,000	*	Integrated Memory Logic Ltd		128
	123,127	*	Integrated Silicon Solution, Inc		962
	21,927,588	e	Intel Corp		467,716
	124,568	*,e	International Rectifier Corp		2,319

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	228,330	e	Intersil Corp (Class A)	$	2,350
	635,648	*	IQE plc		231
	161,000		ITE Technology, Inc		172
	108,602	*,e	IXYS Corp		1,182
	31,816	*	Jusung Engineering Co Ltd		221
	20,234		KC Tech Co Ltd		72
	1,857,000		King Yuan Electronics Co Ltd		661
	1,154,669		Kinsus Interconnect Technology Corp		3,730
	625,004	e	Kla-Tencor Corp		23,925
	110,346		Kontron AG.		797
	281,483	*,e	Kopin Corp		965
	409,317	*,e	Kulicke & Soffa Industries, Inc		3,054
	19,560		L&F Co Ltd		169
	1,603,913	*	Lam Research Corp		60,917
	769,097	*,e	Lattice Semiconductor Corp		4,038
	120,639		Leadtrend Technology Corp		264
	292,726		Lextar Electronics Corp		166
	429,465	e	Linear Technology Corp		11,875
	142,000		Lingsen Precision Industries Ltd		71
	4,399,255	*,e	LSI Logic Corp		22,788
	275,877	*,e	LTX-Credence Corp		1,459
	13,952	*	Lumens Co Ltd		52
	19,000		Macroblock, Inc		56
	4,465,640		Macronix International		1,570
	648	*,e	Manz Automation AG.		22
	8,453,130	*,e	Marvell Technology Group Ltd		122,825
	1,383,212	e	Maxim Integrated Products, Inc		32,270
	68,129	*,e	MaxLinear, Inc		440
	1,828,227		MediaTek, Inc		19,879
	49,632		Melexis NV		602
	7,851		Melfas, Inc		109
	38,653	*	Mellanox Technologies Ltd		1,138
	414,008	*,e	MEMC Electronic Materials, Inc		2,169
	362,856		Micrel, Inc		3,436
	336,043	e	Microchip Technology, Inc		10,454
	17,718,291	*,e	Micron Technology, Inc		89,300
	43,259	*	Micronas Semiconductor Holdings, Inc		286
	19,100	e	Micronics Japan Co Ltd		118
	353,700	*,e	Microsemi Corp		5,652
	21,900	e	Mimasu Semiconductor Industry Co Ltd		205
	155,005	*,e	Mindspeed Technologies, Inc		806
	200,015	*,e	MIPS Technologies, Inc		968
	63,300		Mitsui High-Tec, Inc		308
	256,269	e	MKS Instruments, Inc		5,564
	137,356	*,e	Monolithic Power Systems, Inc		1,398
	1,271,000	*	Mosel Vitelic, Inc		202
	124,650	*,e	MoSys, Inc		456
	634,225		Motech Industries, Inc		1,010
	39,000		MPI Corp		97
	547,356		MStar Semiconductor, Inc		2,857
	106,009	*,e	Nanometrics, Inc		1,537
	1,183,551	*	Nanya Technology Corp		147

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	250,000	*	NEC Electronics Corp	$	1,668
	306,277		Neo Solar Power Corp		286
	14,982		NEPES Corp		143
	339,671	*,e	Netlogic Microsystems, Inc		16,342
	169,803		Nordic Semiconductor ASA		290
	593,826		Novatek Microelectronics Corp Ltd		1,360
	596,083	*,e	Novellus Systems, Inc		16,249
	15,300		NPC, Inc		132
	24,453	*,e	NVE Corp		1,483
	2,124,096	*,e	Nvidia Corp		26,551
	331,178	*,e	Omnivision Technologies, Inc		4,650
	7,052,958	*,e	ON Semiconductor Corp		50,570
	1,366,000		Opto Technology Corp		499
	897,000	*	Orient Semiconductor Electronics Ltd		116
	50,000		Orise Technology Co Ltd		60
	10,750	*	Osung LST Co Ltd		84
	182,000		Pan Jit International, Inc		97
	96,484	*,e	PDF Solutions, Inc		394
	115,865	*,e	Pericom Semiconductor Corp		859
	143,547		Phison Electronics Corp		677
	7,841		Phoenix Solar AG.		86
	269,747	*,e	Photronics, Inc		1,343
	131,300		Pixart Imaging, Inc		308
	169,647	*	PLX Technology, Inc		511
	421,895	*,e	PMC - Sierra, Inc		2,523
	118,589	e	Power Integrations, Inc		3,630
	5,753,401	*	Powerchip Semiconductor Corp		322
	855,725		Powertech Technology, Inc		1,820
	394,840	e	PV Crystalox Solar plc		80
	154,301	*,e	Q-Cells AG.		120
	624,620		Radiant Opto-Electronics Corp		1,752
	200,000		Ralink Technology Corp		673
	401,074	*,e	Rambus, Inc		5,615
	100,490		Raydium Semiconductor Corp		258
	460,467		Realtek Semiconductor Corp		769
	1,174,000		Regent Manner International Ltd		238
	34,720	*,e	Renewable Energy Corp AS		30
	3,251,615	*,e	RF Micro Devices, Inc		20,615
	158,661		Richtek Technology Corp		734
	138,701		Rohm Co Ltd		7,235
	68,082	*	Rubicon Technology, Inc		744
	163,454	*,e	Rudolph Technologies, Inc		1,094
	214,541		Samsung Electronics Co Ltd		149,806
	29,842		Samsung Electronics Co Ltd (Preference)		14,226
	3,358		San Chih Semiconductor Co		5
	155,000	e	Sanken Electric Co Ltd		590
	321,000		SDI Corp		222
	33,036,000	*,e	Semiconductor Manufacturing International		1,615
	265,923	*,e	Semtech Corp		5,611
	37,299		Seoul Semiconductor Co Ltd		657
	42,000	*	Shibaura Mechatronics Corp		121
	149,000		Shindengen Electric Manufacturing Co Ltd		617

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	56,300	e	Shinkawa Ltd	$	314
	90,700	e	Shinko Electric Industries		645
	5,710		Shinsung Holdings Co Ltd		16
	128,902	*,e	Sigma Designs, Inc		1,011
	30,680	*	Signetics Corp		101
	233,000		Sigurd Microelectronics Corp		158
	158,190	*	Silex Systems Ltd		391
	561,002	*	Silicon Image, Inc		3,293
	1,350,000		Silicon Integrated Systems Corp		551
	80,391	*,e	Silicon Laboratories, Inc		2,694
	8,909		Silicon Works Co Ltd		157
	3,693,031		Siliconware Precision Industries Co		3,571
	13,341		Simm Tech Co Ltd		125
	1,549,850		Sino-American Silicon Products, Inc		2,561
	4,900,000	*	Sino-Tech International Holdings Ltd		48
	65,000		Sitronix Technology Corp		82
	75,584		Skymedi Corp		205
	465,118	*,e	Skyworks Solutions, Inc		8,344
	148,621	*,e	SOITEC		791
	1,755,000		Solargiga Energy Holdings Ltd		171
	93,450		Solartech Energy Corp		88
	119,379	e	Solarworld AG.		494
	35,644,511		Solomon Systech International Ltd		710
	401,000		Sonix Technology Co Ltd		543
	504,202	*,e	Spansion, Inc		6,161
	169,844		Sporton International, Inc		351
	316,385	*	Spreadtrum Communications, Inc (ADR)		5,679
	95,922	*,e	Standard Microsystems Corp		1,861
	188,223	e	STMicroelectronics NV		1,230
	23,947	*	STS Semiconductor & Telecommunications		137
	91,584	*,e	Sumco Corp		855
	1,407,000		Sunplus Technology Co Ltd		559
	226,213	*,e	Sunpower Corp (Class A)		1,830
	47,389	*,e	Supertex, Inc		820
	25,119	*	Suss Microtec AG.		211
	315,305		TA-I Technology Co Ltd		208
	349,000		Taiwan Mask Corp		125
	529,000		Taiwan Semiconductor Co Ltd		289
	39,362,717		Taiwan Semiconductor Manufacturing Co Ltd		88,596
	271,700		Taiwan Surface Mounting Technology Co Ltd		547
	431,000		Tekcore Co Ltd		221
	1,829,159	*,e	Teradyne, Inc		20,139
	232,027	*	Tessera Technologies, Inc		2,770
	2,783,413	e	Texas Instruments, Inc		74,178
	501,000		ThaiLin Semiconductor Corp		127
	347,802	e	Tokyo Electron Ltd		15,776
	82,100	e	Tokyo Seimitsu Co Ltd		1,428
	451,860		Topco Scientific Co Ltd		578
	8,525	*	Toptec Co Ltd		106
	274,015	*	Tower Semiconductor Ltd		177
	248,508		Transcend Information, Inc		483
	664,415	*	Triquint Semiconductor, Inc		3,335

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,214,000	*	Trony Solar Holdings Co Ltd.	$	201
	811,000		Tyntek Corp		277
	87,529	*,e	Ultra Clean Holdings		375
	176,814	*,e	Ultratech, Inc		3,032
	54,200	*	Ulvac, Inc		723
	759,100		Unisem M BHD		239
	29,110,022		United Microelectronics Corp		10,735
	408,029		Unity Opto Technology Co Ltd		302
	1,866,743		Vanguard International Semiconductor Corp		651
	132,372	*	Varian Semiconductor Equipment Associates, Inc		8,095
	193,523	*,e	Veeco Instruments, Inc		4,722
	1,311,000	*	Via Technologies, Inc		999
	256,750		Visual Photonics Epitaxy Co Ltd		306
	105,537	*	Volterra Semiconductor Corp		2,029
	293,550		Wafer Works Corp		245
	703,000		Walton Advanced Engineering, Inc		255
	644,000		Weltrend Semiconductor		360
	540,737		Win Semiconductors Corp		485
	3,313,000	*	Winbond Electronics Corp		651
	159,582	*,e	Wolfson Microelectronics plc		336
	32,630	*	Woongjin Energy Co Ltd		158
	595,764	e	Xilinx, Inc		16,348
	105,069		XinTec, Inc		88
	41,383		Youngtek Electronics Corp		86
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		2,198,840
SOFTWARE & SERVICES - 7.1%
	356,000		A8 Digital Music Holdings Ltd		35
	235,709	*	Accelrys, Inc		1,428
	3,227,527	e	Accenture plc		170,026
	233	*,e	Access Co Ltd		164
	207,280	*,e	ACI Worldwide, Inc		5,708
	1,658	*	Acotel Group S.p.A		47
	57,154	*,e	Active Network, Inc		843
	1,826,301	e	Activision Blizzard, Inc		21,733
	181,423	*,e	Actuate Corp		1,001
	361,799	*	Acxiom Corp		3,850
	1,689,364	*,e	Adobe Systems, Inc		40,832
	131,914	*,e	Advent Software, Inc		2,750
	16,197		Ahnlab, Inc		491
	582,577	*,e	Akamai Technologies, Inc		11,582
	1,718,000	e	Alibaba.com Ltd		1,581
	603,485	*,e	Alliance Data Systems Corp		55,943
	256,147		Alpha Systems, Inc		4,104
	55,079		Alten		1,487
	122,277	*,e	Altran Technologies S.A.		540
	1,015,767		Amadeus IT Holding S.A.		16,229
	1,318,129	*,e	Amdocs Ltd		35,748
	98,740	e	American Software, Inc (Class A)		716
	180,408	*,e	Ancestry.com, Inc		4,240
	396,258	*,e	Ansys, Inc		19,432

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,576,369	*,e	AOL, Inc	$	18,916
	339,387		Argo Graphics, Inc		4,440
	273,649	*,e	Ariba, Inc		7,583
	485,558	*,e	Aspen Technology, Inc		7,414
	66,505		Asseco Poland S.A.		806
	19,000	*	Astro Corp		30
	464,196		Atos Origin S.A.		20,035
	1,479,100	*,e	Autodesk, Inc		41,089
	1,627,825	e	Automatic Data Processing, Inc		76,752
	464,001	*	Autonomy Corp plc		18,358
	396,960		Aveva Group plc		8,654
	4,275	*	Axway Software S.A.		90
	135,468	*	Baidu, Inc (ADR)		14,483
	63,300	*	Bankrate, Inc		963
	49,930		Bechtle AG.		1,662
	264,831		Blackbaud, Inc		5,898
	173,875	*,e	Blackboard, Inc		7,765
	368,457	*	Blinkx plc		843
	1,484,784	*,e	BMC Software, Inc		57,253
	41,318	*,e	Booz Allen Hamilton Holding Co		614
	139,890	*	Bottomline Technologies, Inc		2,817
	356,562		Broadridge Financial Solutions, Inc		7,181
	119,664	*,e	BroadSoft, Inc		3,632
	244,614	*	Buongiorno S.p.A.		292
	1,507,892	e	CA, Inc		29,268
	174,884	*,e	CACI International, Inc (Class A)		8,734
	832,391	*,e	Cadence Design Systems, Inc		7,691
	121,644	*,e	Callidus Software, Inc		561
	105,311		Cap Gemini S.A.		3,501
	349,186	e	Capcom Co Ltd		8,704
	16,200	*	Carbonite, Inc		195
	268,049	*,e	Cardtronics, Inc		6,144
	370,655		carsales.com.au Ltd		1,685
	37,294	e	Cass Information Systems, Inc		1,158
	10,140		Cegid Group		211
	373,731	*	CGI Group, Inc		7,030
	80,449	*,e	Check Point Software Technologies		4,244
	293,000	*	China Cyber Port International Co Ltd		49
	7,665,000	*	China Metal Resources Holdings Ltd		79
	1,060,000	*	Chinasoft International Ltd		296
	25,000		Chinese Gamer International Corp		59
	262,973	*	Ciber, Inc		797
	829,087	*,e	Citrix Systems, Inc		45,210
	55,620	*,m	Clinical Data, Inc		53
	2,657		CMC Ltd		45
	1,211,071	*,e	Cognizant Technology Solutions Corp (Class A)		75,934
	246,536	*,e	Commvault Systems, Inc		9,137
	404,143		Companhia Brasileira de Meios de Pagamento		9,006
	194,369	e	Computacenter plc		1,120
	1,320,628	e	Computer Sciences Corp		35,459
	67,089	*,e	Computer Task Group, Inc		749
	494,927		Computershare Ltd		3,524

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	626,429	*	Compuware Corp	$	4,798
	137,437	*,e	comScore, Inc		2,319
	179,866	*,e	Concur Technologies, Inc		6,695
	116,035	*,e	Constant Contact, Inc		2,006
	458,793	*,e	Convergys Corp		4,303
	51,347	*,e	Convio, Inc		432
	53,972		Core Projects & Technologies Ltd		315
	47,101	*,e	Cornerstone OnDemand, Inc		591
	582,869	e	CSE Global Ltd		364
	434,473		CSG Ltd		444
	138,022	*,e	CSG Systems International, Inc		1,745
	125,000	*,e,m	CSK Holdings Corp		452
	257,893		Customers Ltd		202
	194,000		Cyberlink Corp		359
	19,560	*	Daea TI Co Ltd		27
	1,255	*	Danal Co Ltd		6
	47,900		Daou Technology, Inc		374
	44,343	e	Dassault Systemes S.A.		3,131
	17,205		Daum Communications		2,063
	164,345	*	DealerTrack Holdings, Inc		2,575
	103,951	*,e	Deltek, Inc		625
	31,869	*,e	Demand Media, Inc		255
	160,646	*,e	DemandTec, Inc		1,051
	189,289	e	Dena Co Ltd		7,930
	10,040	e	Devoteam S.A.		168
	307,238	*,e	Dice Holdings, Inc		2,403
	1,740	*	Digital Garage, Inc		5,022
	178,862	*,e	Digital River, Inc		3,708
	30,761	*,e	DMRC Corp		781
	21,551		Dragonfly GF Co Ltd		536
	401,815	e	DST Systems, Inc		17,612
	27,300		DTS Corp		340
	11,080	*	DuzonBIzon Co Ltd		58
	72		Dwango Co Ltd		130
	34,440	*,e	Dynamics Research Corp		307
	2,258	*,e	eAccess Ltd		570
	589,642	e	Earthlink, Inc		3,850
	4,055,318	*,e	eBay, Inc		119,590
	128,187	*,e	Ebix, Inc		1,884
	44,503	*,e	Echo Global Logistics, Inc		592
	21,342		Econocom Group		373
	93,000	*	EDB Business Partner ASA		142
	1,861,839	*,e	Electronic Arts, Inc		38,075
	18,335	*,e	Ellie Mae, Inc		102
	188,174	e	Ementor ASA		1,492
	8,455		Engineering Ingegneria Informatica S.p.A.		240
	78,606	*,e	Envestnet, Inc		786
	152,051	e	EPIQ Systems, Inc		1,905
	17,189	*,e	ePlus, Inc		424
	82,141	*,e	Equinix, Inc		7,297
	218,306	*,e	Euronet Worldwide, Inc		3,436
	25,824		Exact Holding NV		602

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	67,822	*	ExlService Holdings, Inc	$	1,492
	131,977	e	Factset Research Systems, Inc		11,742
	178,686	e	Fair Isaac Corp		3,901
	149,731	*,e	FalconStor Software, Inc		437
	939,411	e	Fidelity National Information Services, Inc		22,846
	59,170		Fidessa Group plc		1,449
	24,763		Financial Technologies India Ltd		409
	171,180	*,e	First American Corp		1,826
	420,777	*,e	Fiserv, Inc		21,363
	41,631	*,e	FleetCor Technologies, Inc		1,093
	57,948	e	Forrester Research, Inc		1,884
	757,965	*,e	Fortinet, Inc		12,734
	13,369	*,e	FriendFinder Networks, Inc		25
	125,728	e	F-Secure Oyj		327
	44,500		FUJI SOFT, Inc		733
	206		Future Architect, Inc		88
	97,000		Gamania Digital Entertainment Co Ltd		93
	13,393	*	GameHi Co Ltd		113
	90,239	*	GameLoft		439
	2,048	*	Gamevil, Inc		120
	438,058	*,e	Gartner, Inc		15,275
	357,379	*,e	Genpact Ltd		5,143
	841,120		Geodesic Information Systems Ltd		870
	141,205	*,e,m	Gerber Scientific, Inc		0	^
	55,397	*,e	GFI Informatique		214
	347,451	*	Global Cash Access, Inc		889
	484,379	e	Global Payments, Inc		19,564
	75,303		Glodyne Technoserve Ltd		571
	163,534	*,e	Glu Mobile, Inc		345
	62,300	e	GMO internet, Inc		246
	1,394,105	*	Google, Inc (Class A)		717,099
	42,400	e	Gourmet Navigator, Inc		540
	350,000	*,e	Gravity Co Ltd (ADR)		448
	97,248	*	Gree, Inc		2,966
	30,274	e	Groupe Steria SCA		507
	49,000	*	GTL Ltd		58
	52,025	*,e	Guidance Software, Inc		338
	134,899	*	Hackett Group, Inc		503
	21,208		HCL Infosystems Ltd		27
	296,638		HCL Technologies Ltd		2,461
	163,629		Heartland Payment Systems, Inc		3,227
	280,878		Hexaware Technologies Ltd		475
	3,120,000	*,e	Hi Sun Technology China Ltd		656
	67,702		HIQ International AB		250
	1,381,110	*,e	IAC/InterActiveCorp		54,622
	126,957	e	iGate Corp		1,465
	599,189	e	Indra Sistemas S.A.		8,614
	39,306		Industrial & Financial Systems		514
	410,200		Ines Corp		2,744
	298,446	*,e	Informatica Corp		12,221
	351,900		Information Development Co		2,291

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,200		Information Services International-Dentsu Ltd	$	264
	179,950	*	Infospace, Inc		1,504
	770,287		Infosys Technologies Ltd		39,584
	6,220	*	Infraware, Inc		56
	7,000		Insyde Software Corp		29
	56,642	*	Interactive Intelligence, Inc		1,538
	216,585	*	Internap Network Services Corp		1,066
	4,608,892	e	International Business Machines Corp		806,695
	91,000		International Games System Co Ltd		416
	135	e	Internet Initiative Japan, Inc		627
	1,446,769	*,e	Intuit, Inc		68,635
	189,619		Iress Market Technology Ltd		1,271
	265,860		IT Holdings Corp		2,575
	68,327	e	Itochu Techno-Science Corp		3,074
	185,864	e	j2 Global Communications, Inc		5,000
	425,459		Jack Henry & Associates, Inc		12,330
	2,506		JCEntertainment Corp		66
	190,616	*	JDA Software Group, Inc		4,468
	92,200	e	Kakaku.com, Inc		3,785
	109,102	*,e	Kenexa Corp		1,706
	60,852	e	Keynote Systems, Inc		1,286
	2,704,000		Kingdee International Software Group Co Ltd		1,010
	904,000		Kingsoft Corp Ltd		342
	143,663	*,e	KIT Digital, Inc		1,207
	145,344	*,e	Knot, Inc		1,187
	163,717	e	Konami Corp		5,496
	11,473	*	Korea Digital Communications Corp		16
	53,810		KPIT Cummins Infosystems Ltd		165
	45,619	*	KT Hitel Co Ltd		262
	288,756	e	Lender Processing Services, Inc		3,953
	267,162	*,e	Limelight Networks, Inc		631
	77,290	*,e	LinkedIn Corp		6,035
	291,910	*,e	Lionbridge Technologies		718
	136,217	*,e	Liquidity Services, Inc		4,368
	242,854	*,e	Liveperson, Inc		2,416
	3,397,959		LogicaCMG plc		4,126
	86,948	*,e	LogMeIn, Inc		2,888
	135,302	*	LoopNet, Inc		2,318
	70,225		MacDonald Dettwiler & Associates Ltd		3,179
	75,200	e	Macromill, Inc		886
	269,808	*,e	Magma Design Automation, Inc		1,228
	14,387	*,f	Mail.ru (GDR) (purchased 06/17/11, cost $509)		417
	141,898	*,e	Manhattan Associates, Inc		4,694
	113,561	e	Mantech International Corp (Class A)		3,564
	90,392	e	Marchex, Inc (Class B)		768
	548,183		Mastercard, Inc (Class A)		173,862
	78,792		Matrix IT Ltd		370
	203,026		MAXIMUS, Inc		7,086
	405,864	*,e	Mentor Graphics Corp		3,904
	16,951	e	Mercadolibre, Inc		911
	579,109		Micro Focus International plc		2,890
	592,696	*,e	Micros Systems, Inc		26,025

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	37,622,629		Microsoft Corp	$	936,426
	49,854	*,e	MicroStrategy, Inc (Class A)		5,687
	344,052		Misys plc		1,154
	86	e	Mixi Inc		307
	203,086	e	ModusLink Global Solutions, Inc		709
	392,138	*	MoneyGram International, Inc		914
	686,170		Moneysupermarket.com Group plc		1,095
	815,308	*	Monitise plc		439
	156,460	*,e	Monotype Imaging Holdings, Inc		1,898
	296,045	*,e	Monster Worldwide, Inc		2,126
	156,609	*,e	Motricity, Inc		265
	665,125	*,e	Move, Inc		964
	449		MTI Ltd		568
	1,250,000	*	Nan Hai Corp Ltd		5
	35,537	*,e	NCI, Inc (Class A)		424
	39,481		NCsoft		11,154
	42,700		NEC Fielding Ltd		543
	10,178		Nemetschek AG.		377
	24,645	*	Neowiz Games Corp		1,357
	122,569	*,e	Ness Technologies, Inc		939
	33,617		Net Entertainment NE AB		276
	1,773	e	NET One Systems Co Ltd		4,662
	247,500		NetDragon Websoft, Inc		121
	256,351	*,e	Netscout Systems, Inc		2,928
	110,395	*,e	NetSuite, Inc		2,982
	239,246	*	NeuStar, Inc (Class A)		6,015
	54,032	*	NHN Corp		10,294
	255,806	e	NIC, Inc		2,929
	41,924	*	Nice Systems Ltd		1,262
	75,900		Nihon Unisys Ltd		427
	31,800		NIIT Ltd		28
	10,491		NIIT Technologies Ltd		42
	150,564		Nintendo Co Ltd		22,124
	46,100	e	Nippon System Development Co Ltd		379
	339,802		Nomura Research Institute Ltd		7,762
	23,300		NS Solutions Corp		532
	2,226	e	NTT Data Corp		6,870
	1,137,225	*,e	Nuance Communications, Inc		23,154
	6,300		OBIC Business Consultants Ltd		364
	9,290		Obic Co Ltd		1,806
	111,512	*	OnMobile Global Ltd		135
	63,741	*	Open Text Corp		3,332
	126,041	*,e	OpenTable, Inc		5,799
	372,402	*,e	Openwave Systems, Inc		581
	196,592		Opera Software ASA		868
	58,987	e	Opnet Technologies, Inc		2,059
	22,963,179		Oracle Corp		659,961
	69,591		Oracle Corp Japan		2,450
	27,768		ORC Software AB		186
	62,957	*,e	Ordina NV		120
	21,321		Otsuka Corp		1,470
	417,700		Pacific Online		195

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	622,120	*,e	Parametric Technology Corp	$	9,568
	13,842		Patni Computer Systems Ltd		81
	936,798	e	Paychex, Inc		24,703
	62,752		PC Home Online		366
	275,000		PCA Corp		3,227
	66,444	e	Pegasystems, Inc		2,034
	105,512	*,e	Perficient, Inc		772
	548,100		Philweb Corp		189
	201,102		Playtech Ltd		816
	105,230		Polaris Software Lab Ltd		283
	96,454	*	POSDATA Co Ltd		510
	80,953	*,e	PRG-Schultz International, Inc		382
	344,022	*,e	Progress Software Corp		6,038
	94,587	*,e	PROS Holdings, Inc		1,219
	14,123		PSI AG. Gesellschaft Fuer Produkte und Systeme der Informationstechnologie		342
	32,231	*,e	QAD, Inc (Class A)		345
	376,479	*	QLIK Technologies, Inc		8,155
	14,691	*,e	Quepasa Corp		51
	343,782	*	Quest Software, Inc		5,459
	122,663	*,e	QuinStreet, Inc		1,270
	283,526	*,e	Rackspace Hosting, Inc		9,680
	157,108	*,e	RealD, Inc		1,469
	89,824	e	RealNetworks, Inc		757
	123,153	*,e	RealPage, Inc		2,518
	1,719,728	*,e	Red Hat, Inc		72,676
	522,700		Redecard S.A.		7,117
	88,193		Redflex Holdings Ltd		149
	69,868	e	Renaissance Learning, Inc		1,172
	12,864	*,e	RENREN,Inc (ADR)		66
	9,827		Reply S.p.A.		222
	41,249	*,e	Responsys, Inc		445
	20,509	*	Retalix Ltd		271
	99,422	*,e	RightNow Technologies, Inc		3,286
	71,883		Rolta India Ltd		121
	66,186	*,e	Rosetta Stone, Inc		606
	320,540	*,e	Rovi Corp		13,777
	253,412	*	S1 Corp		2,324
	129,943	*,e	Saba Software, Inc		748
	2,649,804		Sage Group plc		10,509
	646,202	*,e	SAIC, Inc		7,632
	480,827	*,e	Salesforce.com, Inc		54,949
	762,600		Samart Corp PCL		195
	1,280,787		SAP AG.		65,169
	430,498	e	Sapient Corp		4,365
	726,568	*	Satyam Computer Services Ltd		1,033
	20,016		SBSi Co Ltd		275
	58,261	*,e	Sciquest, Inc		870
	147,826		SDL plc		1,489
	141,308	*,e	Seachange International, Inc		1,088
	39,590	*,e	ServiceSource International LLC		523
	239,630		Shanghai Baosight Software Co Ltd		267

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,019		SimCorp AS	$	1,437
	289		Simplex Technology, Inc		96
	8,019	*,e	Sina Corp		574
	20,885		SK C&C Co Ltd		2,532
	14,948	*	SK Communications Co Ltd		228
	178,082	*,e	Smith Micro Software, Inc		271
	167,729		SMS Management & Technology Ltd		871
	97,212		Software AG.		3,044
	134,000		Soft-World International Corp		322
	228,720	*,e	SolarWinds, Inc		5,036
	212,309		Solera Holdings, Inc		10,722
	499,873		Sonda S.A.		1,077
	177		So-net Entertainment Corp		743
	5,679		Sopra Group S.A.		323
	115,580	*,e	Sourcefire, Inc		3,093
	84,000		Springsoft, Inc		89
	34,589	*,e	SPS Commerce, Inc		563
	201,216	e	Square Enix Co Ltd		3,623
	54,056	*,e	SRS Labs, Inc		387
	102,644	*,e	SS&C Technologies Holdings, Inc		1,467
	52,407	e	Stamps.com, Inc		1,071
	21,956	*	Stream Global Services, Inc		45
	499,510	*,e	SuccessFactors, Inc		11,484
	26,271	e	Sumisho Computer Systems Corp		418
	197,350	*,e	SupportSoft, Inc		391
	8,485		Sword Group		145
	7,851,847	*	Symantec Corp		127,985
	107,932	*,e	Synchronoss Technologies, Inc		2,689
	690,506	*,e	Synopsys, Inc		16,821
	79,748	e	Syntel, Inc		3,444
	133	*	Systena Corp		109
	356,000		Systex Corp		394
	257,521	*,e	TA Indigo Holding Corp		1,934
	332,360	*,e	Take-Two Interactive Software, Inc		4,228
	290,466	*,e	Taleo Corp (Class A)		7,471
	134,376	*	Tangoe, Inc		1,520
	805,889		Tata Consultancy Services Ltd		16,962
	52,065	*,e	TechTarget, Inc		297
	105,800		Tecmo Koei Holdings Co Ltd		1,013
	233,076	*	Telecity Group plc		2,011
	297,768	*,e	TeleCommunication Systems, Inc (Class A)		1,027
	205,916	*,e	TeleNav, Inc		1,826
	197,631	*	TeleTech Holdings, Inc		3,012
	95,335	*,e	Temenos Group AG.		1,288
	1,630,100	e	Tencent Holdings Ltd		33,811
	924,615	*,e	Teradata Corp		49,495
	268,602	*,e	THQ, Inc		465
	470,332	*,e	TIBCO Software, Inc		10,531
	82,141	e	Tietoenator Oyj		1,033
	582,660	*,e	TiVo, Inc		5,442
	18,700		TKC		392
	106,259	*,e	TNS, Inc		1,998

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,092,124	e	Total System Services, Inc	$	18,490
	170,900		Totvus S.A.		2,909
	59,257	*	TradeDoubler AB		195
	73,700		Trans Cosmos, Inc/Japan		892
	1,279,999	e	Travelsky Technology Ltd		558
	69,490	*,e	Travelzoo, Inc		1,528
	107,851	*	Trend Micro, Inc		3,373
	130,799	*,e	Tyler Technologies, Inc		3,307
	119,763	*,e	Ubisoft Entertainment		644
	103,537	*,e	Ultimate Software Group, Inc		4,837
	283,056	*,e	Unisys Corp		4,441
	36,234	e	Unit 4 Agresso NV		885
	158,420	e	United Internet AG.		2,678
	552,337	e	United Online, Inc		2,889
	26,300		Universo Online S.A.		247
	2,100		Userjoy Technology Co Ltd		4
	319,527	*,e	Valueclick, Inc		4,972
	110,886	*	Vasco Data Security International		567
	837,501	*,e	VeriFone Systems, Inc		29,329
	84,906	*,e	Verint Systems, Inc		2,232
	283		VeriSign Japan KK		101
	487,232	e	VeriSign, Inc		13,940
	140,355	e	VirnetX Holding Corp		2,104
	65,170	*,e	Virtusa Corp		860
	2,114,568	e	Visa, Inc (Class A)		181,262
	122,164	*,e	VistaPrint Ltd		3,302
	1,093,636	*,e	VMware, Inc (Class A)		87,906
	71,159	*,e	Vocus, Inc		1,193
	348,519	*,e	Wave Systems Corp		816
	105,730	*,e	WebMD Health Corp (Class A)		3,188
	214,265	*,e	Websense, Inc		3,707
	113,511	*,e	Website Pros, Inc		792
	17,589	*	Webzen, Inc		121
	10,306		WeMade Entertainment Co Ltd		503
	3,846,432		Western Union Co		58,812
	761,290		Wipro Ltd		5,268
	133,557		Wirecard AG.		2,043
	160,678	*,e	Wright Express Corp		6,112
	286,066		Xchanging plc		342
	4,227		XING AG.		308
	21,553	e	Yahoo! Japan Corp		6,694
	5,746,442	*	Yahoo!, Inc		75,622
	194,084	*,e	Yandex NV		3,961
	260,500		YTL E-Solutions BHD		58
	42		Zappallas, Inc		43
	16,100	*	Zillow, Inc		440
	294,645	*,e	Zix Corp		787
			TOTAL SOFTWARE & SERVICES		6,348,918
TECHNOLOGY HARDWARE & EQUIPMENT - 5.9%
	100,800	*	5N Plus, Inc		706
	1,500,000	e	AAC Acoustic Technologies Holdings, Inc		3,217

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	20,947		Aastra Technologies Ltd	$	295
	415,000		Ability Enterprise Co Ltd		367
	588,292		Accton Technology Corp		257
	5,699,174		Acer, Inc		6,916
	13,934		Acme Electronics Corp		26
	117,199	*	Acme Packet, Inc		4,992
	199,000		A-DATA Technology Co Ltd		210
	243,800		Adlink Technology, Inc		265
	331,482		Adtran, Inc		8,771
	52,403	*	ADVA AG. Optical Networking		232
	504,775		Advantech Co Ltd		1,326
	111,186	*,e	Agilysys, Inc		793
	18,500		Aiphone Co Ltd		357
	1,533,376	*,e	Alcatel S.A.		4,446
	1,180,286	*,e	Alcatel-Lucent (ADR)		3,340
	872,000		Alpha Networks, Inc		571
	341,800	e	Alps Electric Co Ltd		2,618
	34,161	*	Amper S.A.		99
	309,235	e	Amphenol Corp (Class A)		12,608
	1,450,949		AmTRAN Technology Co Ltd		781
	83,992	*,e	Anaren, Inc		1,608
	136,894	e	Anixter International, Inc		6,494
	169,000	e	Anritsu Corp		1,874
	122,000		APCB, Inc		93
	5,415,948	*	Apple, Inc		2,064,452
	174,266		Arcadyan Technology Corp		179
	40,800		Arisawa Manufacturing Co Ltd		195
	612,019	*,e	Arris Group, Inc		6,304
	592,864	*,e	Arrow Electronics, Inc		16,470
	2,125,000	*	Artel Solutions Group Holdings Ltd		41
	345,112	*,e	Aruba Networks, Inc		7,216
	33,812		Ascom Holding AG.		323
	103,323		Asia Vital Components Co Ltd		63
	112,000		ASROCK, Inc		346
	2,139,293		Asustek Computer, Inc		15,943
	118,000		Aten International Co Ltd		207
	9,011,853		AU Optronics Corp		3,587
	45,629	*	Audiocodes Ltd		128
	19,295		Austria Technologie & Systemtechnik AG.		227
	254,000		AV Tech Corp		708
	616,362	*	Avanzit S.A.		128
	4,015,741		Avermedia Technologies		3,434
	128,767	*,e	Avid Technology, Inc		997
	278,241	*,e	Avnet, Inc		7,257
	79,194	e	AVX Corp		940
	79,956	*,e	AX Holding Corp		728
	52,816	e	Axis Communications AB		861
	49,966	*	Balda AG.		383
	28,139		Barco NV		1,281
	63,726	e	Bel Fuse, Inc (Class B)		993
	29,400		Bematech S.A.		63
	341,260	*,e	Benchmark Electronics, Inc		4,440

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,697,402		Benq Corp	$	447
	189,228	*,e	BigBand Networks, Inc		242
	97,353	e	Black Box Corp		2,078
	290,853	*,e	Blue Coat Systems, Inc		4,037
	190,182	*,e	Bookham, Inc		692
	485,546	*	Brightpoint, Inc		4,472
	830,456	*,e	Brocade Communications Systems, Inc		3,588
	430,078		Brother Industries Ltd		5,053
	305,649	*,e	Bull S.A.		1,306
	1,783,000		BYD Electronic International Co Ltd		444
	1,889,400		CalComp Electronics Thailand PCL		143
	152,048	*,e	Calix Networks, Inc		1,186
	1,194,716	*	Cando Corp		495
	33,000		Canon Electronics, Inc		928
	1,581,498		Canon, Inc		71,809
	2,614,000		Career Technology Co Ltd		4,172
	1,548,943		Catcher Technology Co Ltd		8,868
	388,000	*	Catic Shenzhen Holdings Ltd		159
	385,703	*	CD Projekt Red S.A.		409
	262,985	*	Celestica, Inc		1,910
	819,000		Centron Telecom International Holdings Ltd		107
	37,029	*	Ceragon Networks Ltd		346
	91,670		Chang Wah Electromaterials, Inc		228
	331,836		Channel Well Technology Co Ltd		110
	190,256	*	Checkpoint Systems, Inc		2,584
	968,827		Cheng Uei Precision Industry Co Ltd		2,099
	54,000		Chenming Mold Industry Corp		50
	1,565,054		Chicony Electronics Co Ltd		2,521
	202,779		Chimei Materials Technology Corp		134
	3,714,000		China Aerospace International Holdings Ltd		273
	1,434,000		China All Access Holdings Ltd		273
	3,544,000	*	China Energine International Holdings Ltd		116
	1,105,000		China High Precision Automation Group Ltd		420
	1,709,000	*	China ITS Holdings Co Ltd		167
	3,150,000	*	China Public Healthcare Holding Ltd		13
	3,956,000		China Wireless Technologies Ltd		539
	628,000		Chin-Poon Industrial Co		371
	567,840		Chroma ATE, Inc		1,164
	4,740,857	*	Chunghwa Picture Tubes Ltd		353
	167,809	*,e	Ciena Corp		1,879
	22,744,572		Cisco Systems, Inc		352,312
	423,084		Citizen Watch Co Ltd		2,107
	582,212		Clevo Co		971
	3,102,000	*	CMC Magnetics Corp		587
	53,700	*	CMK Corp		219
	237,315		Cognex Corp		6,434
	145,024	*,e	Coherent, Inc		6,230
	1,280,299		Comba Telecom Systems Holdings Ltd		931
	28,162	e	Communications Systems, Inc		366
	469,000		Compal Communications, Inc		566
	7,675,648		Compal Electronics, Inc		6,980
	472,000	*	Compeq Manufacturing Co		188

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	145,265	e	Comtech Telecommunications Corp	$	4,080
	1,026,800		Coretronic Corp		784
	4,239,156	e	Corning, Inc		52,396
	201,000		Coxon Precise Industrial Co Ltd		247
	224,319	*,e	Cray, Inc		1,191
	63,850		Creative Technology Ltd		131
	12,859	*	CrucialTec Co Ltd		125
	179,431	e	CTS Corp		1,459
	75,000		CyberPower Systems, Inc		291
	385,000		CyberTAN Technology, Inc		377
	41,810		Daeduck Electronics Co		237
	24,710		Daeduck GDS Co Ltd		155
	7,800		Dai-ichi Seiko Co Ltd		233
	389,000		Daiwabo Co Ltd		867
	153,556	e	Daktronics, Inc		1,318
	234,000		Darfon Electronics Corp		147
	6,864	*	Dasan Networks, Inc		26
	309,143		DataTec Ltd		1,451
	438,416		Daxon Technology, Inc		183
	324,000		DBA Telecommunication Asia Holdings Ltd		90
	132,658	e	DDi Corp		960
	6,845,588	*,e	Dell, Inc		96,865
	1,193,700		Delta Electronics Thai PCL		746
	2,220,964		Delta Electronics, Inc		5,202
	82,000		Denki Kogyo Co Ltd		330
	118,000		DFI, Inc		93
	109,426	*,e	DG FastChannel, Inc		1,855
	116,732	e	Diebold, Inc		3,211
	118,257	*,e	Digi International, Inc		1,301
	1,366,000		Digital China Holdings Ltd		1,788
	9,063	*,e	Digital Multimedia Technologies S.p.A.		190
	3,947		Digitech Systems Co Ltd		28
	277,776		Diploma plc		1,373
	744,000		D-Link Corp		543
	241,240	*,e	Dolby Laboratories, Inc (Class A)		6,620
	240,702	*,e	Dot Hill Systems Corp		363
	70,804	*,e	DTS, Inc		1,758
	320,900		Eastern Communications Co Ltd		136
	139,366	*,e	Echelon Corp		977
	104,832	*,e	EchoStar Corp (Class A)		2,370
	16,971		Eizo Nanao Corp		373
	115,000		Elec & Eltek International Co Ltd		322
	74,344		Electro Rent Corp		1,027
	115,141	*,e	Electro Scientific Industries, Inc		1,369
	700,850		Electrocomponents plc		2,063
	211,719	*	Electronics for Imaging, Inc		2,852
	204,938		Elite Material Co Ltd		154
	1,821,000		Elitegroup Computer Systems Co Ltd		401
	288,300	*	Eltek ASA		149
	70,648	*,e	eMagin Corp		186
	8,235,033	*,e	EMC Corp		172,853
	404,772	*,e	EMCORE Corp		401

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	353,680	*,e	Emulex Corp	$	2,264
	25,700	e	Enplas Corp		503
	60,900		Entire Technology Co Ltd		93
	5,853,424		Ericsson (LM) (B Shares)		56,205
	32,407		Esprinet S.p.A.		135
	364,970		Everlight Electronics Co Ltd		621
	26,125		EVS Broadcast Equipment S.A.		1,351
	49,463	*	Exfo Electro Optical Engineering, Inc		312
	402,878	*,e	Extreme Networks, Inc		1,068
	243,709	*	F5 Networks, Inc		17,316
	81,993	*,e	Fabrinet		1,533
	69,045	*,e	FARO Technologies, Inc		2,178
	111,000	*	FDK Corp		129
	209,594	*,e	FEI Co		6,279
	360,392	*,e	Finisar Corp		6,321
	127,000		Firich Enterprises Co Ltd		131
	44,183		FLEXium Interconnect, Inc		106
	280,255	e	Flir Systems, Inc		7,020
	222,183		Flytech Technology Co Ltd		405
	2,293,462	*,e	Foxconn International Holdings Ltd		1,185
	875,046		Foxconn Technology Co Ltd		2,790
	1,309,782		Fuji Folms Holdings Corp		30,440
	3,320,557		Fujitsu Ltd		15,659
	15,438		Fulltech Fiber Glass Corp		9
	28,700		Furuno Electric Co Ltd		137
	55,060	*,e	Fusion-io, Inc		1,046
	247,153		G Tech Optoelectronics Corp		737
	117,361	e	Gemalto NV		5,581
	384,913		Gemtek Technology Corp		306
	92,368		GeoVision, Inc		295
	693,000		Getac Technology Corp		393
	20,000	*	Giantplus Technology Co Ltd		6
	1,263,000		Gigabyte Technology Co Ltd		1,095
	186,986		Gigastorage Corp		126
	40,103	*	Gilat Satellite Networks Ltd		125
	694,748		Global Brands Manufacture Ltd		321
	95,279	*,e	Globecomm Systems, Inc		1,287
	492,000		Gold Circuit Electronics Ltd		132
	770,000		Great Wall Technology Co Ltd		153
	117,139	*	GSI Group, Inc		900
	32,500		Hakuto Co Ltd		312
	505,405		Halma plc		2,470
	31,334	e	Hamamatsu Photonics KK		1,263
	780,600		Hana Microelectronics PCL		424
	623,838		Hannstar Board Corp		265
	5,270,441	*	HannStar Display Corp		345
	456,594	*	Harmonic, Inc		1,945
	404,900	e	Harris Corp		13,835
	325,260	*	Harris Stratex Networks, Inc (Class A)		764
	9,894,298		Hewlett-Packard Co		222,128
	21,360	e	Hexagon AB (B Shares)		278

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,544,540		High Tech Computer Corp	$	33,913
	2,302,278	*	Himachal Futuristic Communications		524
	9,100		Hioki EE Corp		187
	476,000		Hi-P International Ltd		191
	24,166	e	Hirose Electric Co Ltd		2,247
	77,730		Hitachi High-Technologies Corp		1,560
	691,000	*,e	Hitachi Kokusai Electric, Inc		4,440
	18,550,237	e	Hitachi Ltd		92,086
	288,324		HiTi Digital, Inc		222
	616,000		Holystone Enterprise Co Ltd		542
	13,346,234		Hon Hai Precision Industry Co, Ltd		29,741
	76,895		Horiba Ltd		2,335
	80,900		Hosiden Corp		576
	401,691	*	Hoya Corp		9,313
	29,154		Humax Co Ltd		191
	282,033	*	Ibiden Co Ltd		5,960
	31,000		Ichia Technologies, Inc		14
	236,000		I-Chiun Precision Industry Co Ltd		116
	10,700	e	Icom, Inc		274
	62,000		ICP Electronics, Inc		77
	134,100	*	IdeiasNet S.A.		189
	1,170,805	*,e	Imagination Technologies Group plc		7,566
	196,240	*,e	Imation Corp		1,435
	128,916	*,e	Immersion Corp		771
	3,567		Inficon Holding AG.		519
	463,358	*,e	Infinera Corp		3,577
	404,000		Infortrend Technology, Inc		365
	45,714	e	Ingenico		1,712
	274,378	*,e	Ingram Micro, Inc (Class A)		4,426
	5,942,243	*	InnoLux Display Corp		2,366
	240,998	*,e	Insight Enterprises, Inc		3,649
	6,365,000		Inspur International Ltd		158
	2,130	*	Intelligent Digital Integrated Securities Co Ltd		50
	4,743		Intelligent Digital Integrated Security		37
	201,732	e	InterDigital, Inc		9,397
	7,059		Interflex Co Ltd		121
	243,721	*,e	Intermec, Inc		1,589
	141,646	*,e	Intevac, Inc		990
	15,834		INTOPS Co Ltd		218
	3,674,356		Inventec Co Ltd		1,326
	88,942	*	IPG Photonics Corp		3,864
	440,325		ITEQ Corp		452
	116,921	*,e	Itron, Inc		3,449
	35,982		Ituran Location and Control Ltd		422
	151,322	*,e	Ixia		1,161
	39,159		J Touch Corp		56
	1,860,358	e	Jabil Circuit, Inc		33,096
	151,000	e	Japan Aviation Electronics Industry Ltd		1,013
	18,900		Japan Cash Machine Co Ltd		175
	38,000		Japan Digital Laboratory Co Ltd		440
	125,535	e	Japan Radio Co Ltd		332
	1,352,900		JCY International BHD		174

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,284,968	*,e	JDS Uniphase Corp	$	52,691
	101,737	*	Jenoptik AG.		628
	26,399		Jentech Precision Industrial Co Ltd		64
	153,528		Jess-Link Products Co Ltd		176
	1,394,000		Ju Teng International Holdings Ltd		257
	3,554,117	*,e	Juniper Networks, Inc		61,344
	27,600		Kaga Electronics Co Ltd		295
	7,986	e	Kapsch TrafficCom AG.		527
	209,949	*,e	Kemet Corp		1,501
	43,274		Keyence Corp		11,842
	3,218		KH Vatec Co Ltd		19
	1,527,676	e	Kingboard Chemical Holdings Ltd		4,115
	2,318,000		Kinpo Electronics		556
	55,400		Koa Corp		600
	872,350	e	Konica Minolta Holdings, Inc		5,981
	46,641		Kudelski S.A.		414
	67,699	*,e	KVH Industries, Inc		535
	505,000		KYE Systems Corp		198
	226,644		Kyocera Corp		18,951
	368,632		Laird Group plc		789
	239,544		Largan Precision Co Ltd		5,532
	67,361	*,e	LeCroy Corp		532
	17,347,300		Lenovo Group Ltd		11,599
	1,092,486	*,e	Lexmark International, Inc (Class A)		29,530
	10,401		LG Innotek Co Ltd		553
	399,542		LG.Philips LCD Co Ltd		6,516
	1,017,058		LITE-ON IT Corp		953
	655,000		Lite-On Semiconductor Corp		385
	4,457,510		Lite-On Technology Corp		4,038
	92,670		Littelfuse, Inc		3,726
	231,377	*,e	Logitech International S.A.		1,782
	2,494	*,e	LoJack Corp		8
	44,943	*	Loral Space & Communications, Inc		2,252
	18,000		Lotes Co Ltd		49
	223,600		Lumax International Corp Ltd		474
	22,600		Macnica, Inc		483
	35,000		Mag Layers Scientific-Technics Co Ltd		48
	145,000		Marubun Corp		604
	7,300	*	Maruwa Co Ltd		310
	112,627	*,e	Maxwell Technologies, Inc		2,073
	61,224	*,e	Measurement Specialties, Inc		1,589
	21,800	*,e	Megachips Corp		308
	14,200		Meiko Electronics Co		141
	32,300		Melco Holdings, Inc		1,008
	145,339	*,e	Mercury Computer Systems, Inc		1,671
	35,601	*,e	Meru Networks, Inc		290
	171,683		Methode Electronics, Inc		1,276
	644,000	*	Microelectronics Technology, Inc		144
	78,824	*	Micronic Laser Systems AB		109
	1,854,000		Micro-Star International Co Ltd		834
	422,204	*,e	Microvision, Inc		287
	110,000		MIN AIK Technology Co Ltd		234

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,096,000		Mitac International	$	754
	111,500		Mitsumi Electric Co Ltd		746
	303,000		MOBI Development Co Ltd		35
	237,732	e	Molex, Inc		4,843
	110,509		Moser Baer India Ltd		48
	537,850	*	Motorola Mobility Holdings, Inc		20,320
	627,079	e	Motorola, Inc		26,275
	64,223	e	MTS Systems Corp		1,968
	55,136	*	Multi-Fineline Electronix, Inc		1,099
	287,481	e	Murata Manufacturing Co Ltd		15,609
	234,850		Nan Ya Printed Circuit Board Corp		630
	458,000	*	Nanjing Panda Electronics		78
	160,907		National Instruments Corp		3,678
	524,241	*,e	NCR Corp		8,854
	362,382	*	NEC Corp		736
	18,400		NEC Mobiling Ltd		664
	20,198	*,e	NeoPhotonics Corp Ltd		139
	32,662	e	Neopost S.A.		2,395
	460,480	*	Net Insight AB		134
	2,367,607	*,e	NetApp, Inc		80,357
	168,234	*	Netgear, Inc		4,356
	5,750		Netronix, Inc		5
	5,163	*,e	Network Equipment Technologies, Inc		10
	27,000		Newmax Technology Co Ltd		48
	241,423	*	Newport Corp		2,610
	98,326	e	Nichicon Corp		1,190
	35,900		Nidec Copal Electronics Corp		261
	52,000		Nidec Sankyo Corp		307
	19,400	e	Nihon Dempa Kogyo Co Ltd		215
	19,800		Nippon Ceramic Co Ltd		389
	254,000	e	Nippon Chemi-Con Corp		912
	571,613		Nippon Electric Glass Co Ltd		5,194
	31,000		Nohmi Bosai Ltd		204
	7,764,885		Nokia Oyj		43,909
	41,234		Nolato AB (B Shares)		291
	1,065		Nortel Networks Netas Telekomunikasyon AS		88
	130,953	*,e	Novatel Wireless, Inc		395
	40,611	*,e	Numerex Corp		226
	203,404	*,e	OCZ Technology Group, Inc		987
	997,000	*	Oki Electric Industry Co Ltd		905
	208,253		Omron Corp		4,090
	1,240,000	*	O-Net Communications Group		290
	114,572	*,e	Oplink Communications, Inc		1,735
	220,457	*,e	OpNext, Inc		276
	80,248	*	Orbcomm, Inc		205
	34,000	e	Osaki Electric Co Ltd		335
	128,419	*,e	OSI Systems, Inc		4,305
	806,990		Pan-International Industrial		791
	213,000		Paragon Technologies Co Ltd		226
	88,094		Park Electrochemical Corp		1,883
	17,558	*	Parrot S.A.		359
	31,546		Partron Co Ltd		244

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	188,000	*	PAX Global Technology Ltd	$	38
	57,717	*	PC Connection, Inc		461
	839	*	PC-Tel, Inc		5
	2,083,217		Pegatron Technology Corp		1,914
	1,148		Phoenix Mecano AG.		568
	211,496	e	Plantronics, Inc		6,017
	152,944	*,e	Plexus Corp		3,460
	60,000		Plotech Co Ltd		35
	1,045,940	*	Polycom, Inc		19,214
	254,000		Portwell, Inc		194
	44,400		Positivo Informatica S.A.		127
	474,000		Power Quotient International Co Ltd		155
	409,092	*,e	Power-One, Inc		1,841
	645,820	*,e	Powerwave Technologies, Inc		1,111
	510,657	e	Premier Farnell plc		1,225
	61,845		Primax Electronics Ltd		36
	4,749,000		Prime View International Co Ltd		9,844
	46,976	*,e	Procera Networks, Inc		451
	15,539		Prosperity Dielectrics Co Ltd		6
	166,000		P-Two Industries, Inc		109
	470,748	*	QLogic Corp		5,969
	11,260,118		Qualcomm, Inc		547,579
	3,148,532		Quanta Computer, Inc		6,031
	427,000		Quanta Storage, Inc		282
	1,054,069	*,e	Quantum Corp		1,908
	123,955	*,e	Rackable Systems, Inc		1,478
	98,239	*	Radisys Corp		601
	19,447		Redington India Ltd		36
	95,355	e	Renishaw plc		1,507
	688,476	*	Research In Motion Ltd (Canada)		14,034
	89,370		Richardson Electronics Ltd		1,216
	479,228	e	Ricoh Co Ltd		4,017
	56,238		Rimage Corp		711
	45,200		Riso Kagaku Corp		814
	3,588,000	*	Ritek		625
	384,351	*	Riverbed Technology, Inc		7,672
	126,851	*	Rofin-Sinar Technologies, Inc		2,436
	67,758	*,e	Rogers Corp		2,651
	11,200		Roland DG Corp		120
	58,200		Ryosan Co Ltd		1,286
	32,700		Ryoyo Electro Corp		311
	32,150		Sam Young Electronics Co Ltd		214
	73,196		Samsung Electro-Mechanics Co Ltd		4,483
	45,991		Samsung SDI Co Ltd		4,421
	3,284,302	*,e	SanDisk Corp		132,522
	158,413	*	Sandvine Corp		228
	371,158	*,e	Sanmina-SCI Corp		2,479
	33,200		Sanshin Electronics Co Ltd		289
	139,597	*,e	Scansource, Inc		4,126
	179,611	*,e	SCM Microsystems, Inc		357
	40,000		Sea Sonic Electronics Co Ltd		39
	1,299,602		Seagate Technology, Inc		13,360

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,960	e	Seiko Epson Corp	$	369
	194,000		Senao International Co Ltd		564
	33,000		Sercomm Corp		33
	12,421		SFA Engineering Corp		604
	308,800	*	Shanghai Potevio Co Ltd		167
	20,700	*,m	Shenzhen SEG Co Ltd		8
	133,100	*	Shijiazhuang Baoshi Electronic Glass Co Ltd		98
	148,289	e	Shimadzu Corp		1,251
	23,200		Shinko Shoji Co Ltd		187
	189,210	*,e	ShoreTel, Inc		942
	535,000	*	Shuttle, Inc		164
	37,711	*	Sierra Wireless, Inc		259
	18,600	*	Siix Corp		242
	2,242,000	e	SIM Technology Group Ltd		169
	642,739		Simplo Technology Co Ltd		3,948
	548,000		Sinbon Electronics Co Ltd		318
	13,208		Sindoh Co Ltd		539
	447,000	*	Sintek Photronic Corp		147
	156,000		Sirtec International Co Ltd		210
	80,700	*	Smart Technologies, Inc		340
	384,940	*,e	Smart Technologies, Inc (Class A)		1,617
	86,000	e	SMK Corp		320
	7,363		SNU Precision Co Ltd		85
	394,000	*	Solelytex Industrial Corp		127
	889,143	*,e	Sonus Networks, Inc		1,929
	250,380		Spectris plc		4,532
	935,920		Spirent Communications plc		1,780
	53,100	e	Star Micronics Co Ltd		523
	159,015	*,e	STEC, Inc		1,612
	303,237		Sterlite Technologies Ltd		222
	84,384	*,e	Stratasys, Inc		1,564
	238,000		Sunrex Technology Corp		159
	102,931	*	Super Micro Computer, Inc		1,290
	14,356		Suprema, Inc		103
	14,000		Supreme Electronics Co Ltd		8
	656,686	*	SVA Electron Co Ltd		287
	1,221,800		SVI PCL (ADR)		142
	79,839	e	Sycamore Networks, Inc		1,441
	228,538	*	Symmetricom, Inc		992
	140,873	*,e	Synaptics, Inc		3,367
	246,000		Syncmold Enterprise Corp		255
	141,985	*	SYNNEX Corp		3,720
	1,828,198		Synnex Technology International Corp		3,948
	74,972		Taiflex Scientific Co Ltd		92
	378,000	*	Taiwan Chi Cheng Enterprise Co Ltd		157
	258,000		Taiwan PCB Techvest Co Ltd		194
	132,803	e	Taiyo Yuden Co Ltd		968
	82,000	e	Tamura Corp		206
	1,000,000		TCL Communication Technology Holdings Ltd		411
	196,716	e	TDK Corp		6,862
	81,414	*,e	Tech Data Corp		3,520
	164,558	e	Technitrol, Inc		471

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	313,947	*,e	Tekelec	$	1,896
	657,398	e	Tellabs, Inc		2,820
	111,280		Test Research, Inc		126
	251,000		Thinking Electronic Industrial Co Ltd		198
	9,630		Thrane & Thrane AS		358
	75,444		TKH Group NV		1,515
	107,000	*,e	Toko, Inc		206
	155,105	e	Tokyo Denpa Co Ltd		818
	151,625		Tong Hsing Electronic Industries Ltd		352
	81,100	e	Topcon Corp		403
	66,618		Topoint Technology Co Ltd		45
	5,094,371	e	Toshiba Corp		20,782
	179,000		Toshiba TEC Corp		671
	63,200	e	Toyo Corp/Chuo-ku		716
	119,450	*	TPK Holding Co Ltd		2,212
	1,674,000	e	Tpv Technology Ltd		489
	239,787	*,e	Trimble Navigation Ltd		8,045
	507,832		Tripod Technology Corp		1,323
	3,215,000		Truly International Holdings		320
	354,153		TT electronics plc		853
	252,386	*,e	TTM Technologies, Inc		2,400
	512,039		TXC Corp		594
	6,914	*	U-Blox AG.		262
	211,200		Uchi Technologies BHD		78
	15,742		Uju Electronics Co Ltd		190
	281,000	*	Uniden Corp		1,020
	1,635,756		Unimicron Technology Corp		2,288
	151,937		Unitech Printed Circuit Board Corp		64
	168,255	*,e	Universal Display Corp		8,066
	25		V Technology Co Ltd		97
	402,795		Venture Corp Ltd		2,040
	36,183	*,e	Veraz Networks, Inc		67
	151,050	*,e	Viasat, Inc		5,031
	11,882	*,e	Viasystems Group, Inc		209
	28,000		Viking Tech Corp		29
	1,274,233	*,e	Vishay Intertechnology, Inc		10,653
	52,119	*,e	Vishay Precision Group, Inc		687
	1,700,000	*	VST Holdings Ltd		164
	220,900	e	Vtech Holdings Ltd		2,050
	478		Wacom Co Ltd		560
	44,042		Wah Hong Industrial Corp		70
	1,726,767		Wah Lee Industrial Corp		2,135
	476,769		Walsin Technology Corp		146
	1,016,000		Wasion Group Holdings Ltd		293
	637,350		Weikeng Industrial Co Ltd		455
	103,000		Wellypower Optronics Corp		56
	209,863	*,e	Westell Technologies, Inc		453
	1,750,353	*,e	Western Digital Corp		45,019
	209,500		Wi-Lan, Inc		1,226
	44,258		Wincor Nixdorf AG.		1,987
	1,882,962		Wintek Corp		1,453
	2,509,496		Wistron Corp		2,816

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	200,545		Wistron NeWeb Corp	$	487
	8,130		Woojin, Inc		84
	4,496,000		World Wide Touch Technology Ho		111
	1,619,598		WPG Holdings Co Ltd		1,862
	323,642		WT Microelectronics Co Ltd		392
	308,000	*	WUS Printed Circuit Co Ltd		160
	5,097,899	e	Xerox Corp		35,532
	116,243	*,e	X-Rite, Inc		434
	178,500	e	Xyratex Ltd		1,655
	15,750	*,b,m	Ya Hsin Industrial Co Ltd		3
	1,658,000		Yageo Corp		461
	81,293		Yamatake Corp		1,740
	167,203	e	Yaskawa Electric Corp		1,261
	337,785	*,e	Yokogawa Electric Corp		3,195
	109,348		Young Fast Optoelectronics Co Ltd		297
	152,410	*	Zebra Technologies Corp (Class A)		4,716
	213,000		Zinwell Corp		210
	839,147	e	ZTE Corp		2,377
	87,615	*,e	Zygo Corp		1,013
	453,000		Zyxel Communications		263
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5,304,764
	TELECOMMUNICATION SERVICES - 3.6%
	12,152	*	012 Smile.Communications Ltd		190
	244,640	*,e	8x8, Inc		996
	93,565	e	AboveNet, Inc		5,015
	2,669,100		Advanced Info Service PCL		10,919
	150,506	f	AFK Sistema (GDR) (purchased 03/30/07, cost $2,646)		2,093
	187,488	e	Alaska Communications Systems Group, Inc		1,230
	62,685		Allied Technologies Ltd		457
	64,555,760	e	America Movil S.A. de C.V. (Series L)		71,266
	2,905,840	*,e	American Tower Corp (Class A)		156,334
	26,395,884	e	AT&T, Inc		752,810
	45,839		Atlantic Tele-Network, Inc		1,507
	96,883	*	Avanti Communications Group plc		400
	1,308,000	*	Axtel SAB de CV		477
	630,262		BCE, Inc		23,631
	247,535		Belgacom S.A.		7,450
	74,320		Bell Aliant Regional Communications Income Fund		1,961
	2,000,214		Bezeq Israeli Telecommunication Corp Ltd		3,743
	795,877		Bharti Airtel Ltd		6,114
	14,524	*,e	Boingo Wireless, Inc		104
	750,862		Brasil Telecom S.A. (Preference)		4,381
	19,888,553		BT Group plc		53,308
	10,102,917		Cable & Wireless plc		5,842
	6,356,392		Cable & Wireless Worldwide		3,050
	113,441	*,e	Cbeyond Communications, Inc		801
	50,690		Cellcom Israel Ltd		1,035
	4,657,784		CenturyTel, Inc		154,266
	4,015,768		China Communications Services Corp Ltd		1,837
	10,089,390		China Mobile Hong Kong Ltd		98,627
	21,103,889		China Telecom Corp Ltd		13,216

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,203,601	e	China Unicom Ltd	$	24,811
	5,164,118		Chunghwa Telecom Co Ltd		17,103
	1,021,829	*,e	Cincinnati Bell, Inc		3,157
	1,320,000	e	Citic 1616 Holdings Ltd		256
	3,282,000	*	Citic 21CN Co Ltd		222
	436,000		City Telecom (HK) Ltd		206
	370,799	*,e	Clearwire Corp (Class A)		864
	184,461	*,e	Cogent Communications Group, Inc		2,481
	431,965	*	Colt Telecom Group S.A.		681
	168,221	e	Consolidated Communications Holdings, Inc		3,036
	1,118,625	*,e	Crown Castle International Corp		45,494
	7,204,219		Deutsche Telekom AG.		84,562
	481,400		Digi.Com BHD		4,571
	114,195		Drillisch AG.		1,116
	39,782		Egyptian Co for Mobile Services		612
	10,129		Elisa Oyj (Series A)		207
	190,344		Empresa Nacional de Telecomunicaciones S.A.		3,662
	107,031	*,e	Fairpoint Communications, Inc		460
	2,704,019		Far EasTone Telecommunications Co Ltd		3,998
	596,874		France Telecom S.A.		9,769
	250,265	e	Freenet AG.		2,923
	2,746,316	e	Frontier Communications Corp		16,780
	208,174	*	General Communication, Inc (Class A)		1,707
	173,736	*,e	Global Crossing Ltd		4,154
	380,921	*,e	Globalstar, Inc		156
	64,100		Globe Telecom, Inc		1,295
	19,990		Hellenic Telecommunications Organization S.A.		85
	39,925	e	HickoryTech Corp		384
	2,108,651		Hutchison Telecommunications Hong Kong Holdings Ltd		736
	143,438	e	IDT Corp (Class B)		2,926
	283,583		iiNET Ltd		592
	1,486	e	Iliad S.A.		166
	124,236	*,e	inContact, Inc		429
	398,934		Inmarsat plc		3,038
	8,299	*	Internet Gold-Golden Lines Ltd		93
	175,797	*,e	Iridium Communications, Inc		1,090
	1,807,800		Jasmine International PCL		93
	279,401	*	Jazztel plc		1,380
	1,197,818		Kcom Group plc		1,316
	3,919	e	KDDI Corp		26,980
	161,000		Keppel Telecommunications & Transportation Ltd		148
	110,552		KT Corp		3,330
	371,187	*,e	Leap Wireless International, Inc		2,561
	5,892,912	*,e	Level 3 Communications, Inc		8,780
	406,366		LG Telecom Ltd		2,189
	115,389		M2 Telecommunications Group Ltd		326
	731,680		Magyar Telekom		1,628
	229,429	*	Mahanagar Telephone Nigam		147
	53,700		Manitoba Telecom Services, Inc		1,661
	245,653		Maroc Telecom		4,209
	3,177,700		Maxis BHD		5,278
	5,025,152	*,e	MetroPCS Communications, Inc		43,769

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	74,999	e	Millicom International Cellular S.A.	$	7,474
	822,452	e	Mobile TeleSystems (ADR)		10,116
	508,809		MobileOne Ltd		950
	23,872		Mobistar S.A.		1,363
	2,956,397		MTN Group Ltd		48,298
	546,545	*	Netia S.A.		817
	138,710	*,e	Neutral Tandem, Inc		1,343
	1,082,406	*,e	NII Holdings, Inc (Class B)		29,171
	1,619,489		Nippon Telegraph & Telephone Corp		77,587
	131,961	e	NTELOS Holdings Corp		2,340
	12,876	e	NTT DoCoMo, Inc		23,461
	4,026,562	*	Orascom Telecom Holding SAE		2,214
	680,872	*,e	PAETEC Holding Corp		3,602
	137,382		Partner Communications		1,302
	8,329,161		PCCW Ltd		3,098
	90,062		Philippine Long Distance Telephone Co		4,490
	841,424	e	Portugal Telecom SGPS S.A.		6,182
	255,568	*,e	Premiere Global Services, Inc		1,641
	26,032,000	*	PT Bakrie Telecom Tbk		969
	2,285,500		PT Excelcomindo Pratama		1,280
	1,382,676		PT Indosat Tbk		818
	13,526,821		PT Telekomunikasi Indonesia Tbk (Series B)		11,537
	186,222	*,e	QSC AG.		504
	794,833		Reliance Communication Ventures Ltd		1,154
	462,268		Rogers Communications, Inc (Class B)		15,824
	346,796		Rostelecom (ADR)		9,584
	2,527,321		Royal KPN NV		33,287
	541,910	*,e	SBA Communications Corp (Class A)		18,685
	19,817		Scailex Corp Ltd		121
	108,160	e	Shenandoah Telecom Co		1,205
	6,306,773	e	Singapore Telecommunications Ltd		15,203
	288,459	*	SK Broadband Co Ltd		862
	48,931		SK Telecom Co Ltd		6,179
	1,496,018	e	SmarTone Telecommunications Holding Ltd		2,244
	896,193		Softbank Corp		26,223
	252,616	e	Sonaecom - SGPS S.A.		380
	10,576,822	*	Sprint Nextel Corp		32,154
	690,321		StarHub Ltd		1,500
	45,421	e	SureWest Communications		476
	3,995		Swisscom AG.		1,625
	2,512,715		Taiwan Mobile Co Ltd		6,176
	670,065		TalkTalk Telecom Group plc		1,311
	777,160	*	Tata Teleservices Maharashtra Ltd		269
	554,585		TDC AS		4,531
	154,613		Tele Norte Leste Participacoes S.A.		1,694
	321,194		Tele Norte Leste Participacoes S.A. (Preference)		3,041
	758,359	e	Tele2 AB (B Shares)		13,736
	2,744,941		Telecom Corp of New Zealand Ltd		5,456
	482,800		Telecom Egypt		1,185
	10,749,380		Telecom Italia RSP		10,454
	16,726,589		Telecom Italia S.p.A.		18,174
	101,824		Telecom Plus plc		1,145

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	591,617		Telecomunicacoes de Sao Paulo S.A.	$	15,669
	6,855	e	Telecomunicacoes de Sao Paulo S.A. (ADR)		181
	167,407		Telefonica O2 Czech Republic AS		3,562
	2,484,275		Telefonica S.A.		47,611
	7,473,422	*,e	Telefonos de Mexico S.A. de C.V. (Series L)		5,599
	26,279		Telekom Austria AG.		265
	4,640,500		Telekom Malaysia BHD		5,923
	1,392,525		Telekomunikacja Polska S.A.		7,278
	75,196		Telemar Norte Leste S.A.		1,548
	80,717		Telenet Group Holding NV		2,957
	1,286,201		Telenor ASA		19,837
	303,201	e	Telephone & Data Systems, Inc		6,443
	1,324,101		TeliaSonera AB		8,730
	391,728		Telkom S.A. Ltd		1,551
	9,698,164	e	Telstra Corp Ltd		28,883
	68,460		TELUS Corp		3,355
	184,746		TELUS Corp, non-voting shares		8,612
	398,400	*	Thaicom PCL		104
	1,489,762		Tim Participacoes S.A.		6,893
	1,089	e	Tim Participacoes S.A. (ADR)		26
	1,747,300	*	Time dotCom BHD		245
	1,933,079	*,e	Tiscali S.p.A.		120
	3,599,000		TM International BHD		5,147
	138,912	*,e	Towerstream Corp		356
	377,993		TPG Telecom Ltd		514
	486,822	*	True Corp PCL		49
	17,567		Tulip Telecom Ltd		57
	947,977		Turk Telekomunikasyon AS		4,071
	1,043,669		Turkcell Iletisim Hizmet AS		4,736
	265,585	*,e	tw telecom inc (Class A)		4,387
	27,209	*,e	US Cellular Corp		1,079
	141,657	e	USA Mobility, Inc		1,870
	16,186,265	e	Verizon Communications, Inc		595,655
	1,590,390		Vivendi Universal S.A.		32,380
	774,801		Vodacom Group Pty Ltd		8,636
	65,889,021		Vodafone Group plc		169,813
	696,337	e	Vodafone Group plc (ADR)		17,861
	989,442	*,e	Vonage Holdings Corp		2,573
	1,052,398	e	Windstream Corp		12,271
			TOTAL TELECOMMUNICATION SERVICES		3,241,959
TRANSPORTATION - 1.9%
	156,539		Abertis Infraestructuras S.A.		2,407
	49,512	*	ACE Aviation Holdings, Inc (Class A)		500
	272,473	*	AER Lingus		240
	5,587		Aeroports de Paris		420
	53,088	*,e	Air Berlin plc		192
	90,100	*	Air Canada (Class A)		126
	3,742,600	e	Air China Ltd		2,599
	18,756	*,e	Air France-KLM		137
	386,370	e	Air New Zealand Ltd		319
	230,912	*	Air Transport Services Group, Inc		1,000

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,095,100		AirAsia BHD	$	1,964
	192,799	*	Alaska Air Group, Inc		10,853
	120,322	e	Alexander & Baldwin, Inc		4,395
	582,652		All America Latina Logistica S.A.		2,643
	1,196,324	e	All Nippon Airways Co Ltd		3,744
	59,399	e	Allegiant Travel Co		2,799
	41,158	*	Amerco, Inc		2,570
	964,593	*,e	AMR Corp		2,855
	624,000		Anhui Expressway Co		314
	115,165		Ansaldo STS S.p.A.		1,145
	716		AP Moller - Maersk AS (Class A)		4,008
	3,741		AP Moller - Maersk AS (Class B)		21,974
	128,733		Arkansas Best Corp		2,079
	4,307,128	e	Asciano Group		5,934
	104,790	*	Asiana Airlines		674
	136,861	*	Atlas Air Worldwide Holdings, Inc		4,556
	759,399		Auckland International Airport Ltd		1,320
	1,211,343		Australian Infrastructure Fund		2,099
	105,393		Autostrada Torino-Milano S.p.A.		1,000
	333,814		Autostrade S.p.A.		4,800
	417,357	*,e	Avis Budget Group, Inc		4,036
	104,285	*	Avis Europe plc		512
	61,165	e	Baltic Trading Ltd		284
	989,200		Bangkok Expressway PCL		524
	331,000	*	Bangkok Metro PCL		6
	959,866		BBA Aviation plc		2,486
	2,937,600		Beijing Capital International Airport Co Ltd		1,183
	241,515	e	Brisa-Auto Estradas de Portugal S.A.		854
	977,423		Canadian National Railway Co		65,320
	224,669		Canadian Pacific Railway Ltd		10,831
	4,101,773	e	Cathay Pacific Airways Ltd		6,694
	403,020		Cebu Air, Inc		657
	174,945		Celadon Group, Inc		1,554
	14,613		Celebi Hava Servisi		149
	2,539	e	Central Japan Railway Co		22,157
	745,220	e	CH Robinson Worldwide, Inc		51,025
	2,910,127		China Airlines		1,426
	1,862,744	e	China Merchants Holdings International Co Ltd		4,995
	6,698,800	*,e	China Shipping Container Lines Co Ltd		1,021
	1,959,300	e	China Shipping Development Co Ltd		1,246
	6,302,000	*,e	China Southern Airlines Co Ltd		2,896
	254,000		Chinese Maritime Transport Ltd		341
	330,887		Cia de Concessoes Rodoviarias		8,615
	19,679		Clarkson plc		342
	181,631		ComfortDelgro Corp Ltd		180
	16,776	e	Compagnie Maritime Belge S.A.		389
	2,239,038		Compania SudAmericana de Vapores S.A.		515
	6,929,217	e	ConnectEast Group		3,622
	590,148	e	Con-Way, Inc		13,060
	281,204		Copa Holdings S.A. (Class A)		17,229
	4,212,475	e	COSCO Holdings		1,724
	2,672,000	e	COSCO Pacific Ltd		2,956

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	212,233	e	Costamare, Inc	$	2,621
	18,270	*,e	Covenant Transportation Group, Inc		67
	5,116,998		CSX Corp		95,534
	293,000		CWT Ltd		209
	30,517	e	D/S Norden		840
	173,000	*,e	Daiichi Chuo Kisen Kaisha		218
	892,050		Dazhong Transportation Group Co Ltd		449
	2,934,536	*,e	Delta Air Lines, Inc		22,009
	841,522		Deutsche Lufthansa AG.		10,910
	645,527		Deutsche Post AG.		8,265
	3,572		Dfds AS		243
	117,308	*	Dollar Thrifty Automotive Group, Inc		6,604
	244,526		DSV AS		4,400
	399,841	*,e	Eagle Bulk Shipping, Inc		628
	619,425		East Japan Railway Co		37,554
	235,547	*	easyJet plc		1,254
	274,900		EcoRodovias Infraestrutura e Logistica S.A.		2,018
	2,081,772		Eva Airways Corp		1,363
	519,500		Evergreen International Storage & Transport Corp		289
	4,861,407		Evergreen Marine Corp Tawain Ltd		2,452
	376,531	*,e	Excel Maritime Carriers Ltd		783
	706,730	e	Expeditors International Washington, Inc		28,658
	15,000	*	Farglory F T Z Investment Holding Co Ltd		8
	902,650	e	FedEx Corp		61,091
	1,856,000		First Steamship Co Ltd		2,666
	666,377	e	Firstgroup plc		3,313
	12,314	e	Flughafen Wien AG.		524
	6,554		Flughafen Zuerich AG.		2,469
	35,161	*	Flybe Group plc		63
	120,734	e	Forward Air Corp		3,073
	13,786		Fraport AG. Frankfurt Airport Services Worldwide		812
	317,795		Freightways Ltd		771
	308,000	e	Fukuyama Transporting Co Ltd		1,875
	6,917		Gateway Distriparks Ltd		20
	642,491	*,e	Gemina S.p.A.		518
	168,323	*,e	Genco Shipping & Trading Ltd		1,315
	159,485	*,e	Genesee & Wyoming, Inc (Class A)		7,419
	22,532	f	Globaltrans Investment plc (GDR) (purchased 07/05/10, cost $338)		306
	14,979		GLOVIS Co Ltd		2,212
	97,841		Go-Ahead Group plc		2,011
	177,762		Gol Linhas Aereas Inteligentes S.A.		968
	433,000		Golden Ocean Group Ltd		294
	465,000	e	Goodpack Ltd		537
	819,717	e	Grindrod Ltd		1,522
	340,815		Groupe Eurotunnel S.A.		2,888
	205,100	*	Grupo Aeroportuario del Centro Norte Sab de C.V.		329
	978,491	e	Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		3,272
	372,900	e	Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		1,860
	303,560		Guangdong Provincial Expressway Development Co Ltd		88
	1,214,000		GZI Transportation Ltd		429
	132,000	*	Hainan Meilan International Airport Co Ltd		79

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	48,598	e	Hamburger Hafen und Logistik AG.	$	1,350
	56,920		Hanjin Shipping Co Ltd		491
	37,170		Hanjin Shipping Holdings Co Ltd		235
	4,330		Hanjin Transportation Co Ltd		89
	219,315	*,e	Hawaiian Holdings, Inc		923
	207,844	e	Heartland Express, Inc		2,818
	1,098,992	*,e	Hertz Global Holdings, Inc		9,781
	68,500		Hitachi Transport System Ltd		1,272
	64,400		Hong Kong Aircraft Engineerg		817
	322,085		Hopewell Highway Infrastructure Ltd		196
	204,232	*,e	Hub Group, Inc (Class A)		5,774
	4,662,294		Hutchison Port Holdings Trust		3,112
	49,520		Hyundai Merchant Marine Co Ltd		1,059
	107,757	*,e	Iino Kaiun Kaisha Ltd		570
	134,138	*	International Consolidated Airlines		316
	320,510		International Container Term Services, Inc		340
	31,722	e	International Shipholding Corp		587
	27,900		Inui Steamship Co Ltd		107
	30,212		Irish Continental Group plc		579
	434,734	e	J.B. Hunt Transport Services, Inc		15,703
	52,855	e	Japan Airport Terminal Co Ltd		786
	117,850	*	Jet Airways India Ltd		562
	2,683,327	*,e	JetBlue Airways Corp		11,002
	4,036,000		Jiangsu Express		3,048
	166,000		Jinzhou Port Co Ltd		83
	99,500		Julio Simoes Logistica S.A.		466
	481,083		Kamigumi Co Ltd		4,294
	1,264,830	*	Kansas City Southern Industries, Inc		63,191
	1,955,538	e	Kawasaki Kisen Kaisha Ltd		4,067
	343,263	e	Keihin Electric Express Railway Co Ltd		3,169
	422,104	e	Keio Corp		3,020
	201,128		Keisei Electric Railway Co Ltd		1,364
	629,067	*	Kingfisher Airlines Ltd		256
	1,169,487	e	Kintetsu Corp		4,409
	19,200		Kintetsu World Express, Inc		549
	305,441	*,e	Kirby Corp		16,078
	291,213	e	Knight Transportation, Inc		3,876
	49,871		Koninklijke Vopak NV		2,384
	13,321	*	Korea Express Co Ltd		739
	59,457		Korean Air Lines Co Ltd		2,199
	5,522		Kuehne & Nagel International AG.		620
	198,325		Lan Airlines S.A.		4,194
	240,735		Landstar System, Inc		9,523
	45,500		Lingkaran Trans Kota Holdings BHD		51
	393,700	*	LLX Logistica S.A.		760
	176,092		Localiza Rent A Car		2,332
	42,200	*	Log-in Logistica Intermodal S.A.		145
	465,337		Macquarie Airports		1,441
	515,893	*	Macquarie Atlas Roads Group		650
	165,030		Mainfreight Ltd		1,222
	212,900		Malaysia Airports Holdings BHD		352
	246,800		Malaysian Bulk Carriers BHD		138

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	61,264		Marten Transport Ltd	$	1,056
	113,000		Maruzen Showa Unyu Co Ltd		424
	302,252		Mercator Lines Ltd		148
	324,400		Mermaid Marine Australia Ltd		987
	1,276,100		MISC BHD		2,331
	78,556	e	Mitsubishi Logistics Corp		846
	1,446,125	e	Mitsui OSK Lines Ltd		5,572
	225,610		Mitsui-Soko Co Ltd		873
	850,253		MTR Corp		2,545
	495,552		Mundra Port and Special Economic Zone Ltd		1,656
	581,710		National Express Group plc		2,104
	836,658	e	Neptune Orient Lines Ltd		690
	653,134	e	Nippon Express Co Ltd		2,786
	137,100		Nippon Konpo Unyu Soko Co Ltd		1,707
	3,936,348	e	Nippon Yusen Kabushiki Kaisha		10,677
	534,714	e	Nishi-Nippon Railroad Co Ltd		2,529
	96,000		Nissin Corp		240
	1,618,174	e	Norfolk Southern Corp		98,741
	356,980	*	Northgate plc		1,383
	27,912	*,e	Norwegian Air Shuttle AS		290
	75,378	f	Novorossiysk Commercial Sea Port (GDR) (purchased 11/03/10, cost $687)		533
	457,763	e	Odakyu Electric Railway Co Ltd		4,351
	94,375	e	Oesterreichische Post AG.		2,684
	252,077	*	Old Dominion Freight Line		7,303
	314,476	e	Orient Overseas International Ltd		1,256
	199,468	*,e	Pacer International, Inc		748
	2,203,290	e	Pacific Basin Shipping Ltd		851
	18,886	*	Panalpina Welttransport Holding AG.		1,607
	33,444	*,e	Park-Ohio Holdings Corp		402
	27,231	*,e	Patriot Transportation Holding, Inc		550
	10,200		Piraeus Port Authority		122
	2,964,500		PLUS Expressways BHD		4,002
	654,700		Pos Malaysia & Services Holdings BHD		520
	550,600		Precious Shipping PCL		256
	12,753,500	*	PT Berlian Laju Tanker Tbk		293
	5,294,000	*	PT Garuda Indonesia Tbk		259
	681,500		PT Jasa Marga Tbk		305
	4,893,387	*	Qantas Airways Ltd		6,560
	1,331,888		QR National Ltd		4,028
	77,248	*	Quality Distribution, Inc		693
	112,797	*,e	RailAmerica, Inc		1,470
	440,700	*	Regional Container Lines PCL		88
	164,651	*,e	Republic Airways Holdings, Inc		466
	244,000	e	Road King Infrastructure		129
	51,608	*	Roadrunner Transportation Services Holdings, Inc		708
	55,719		Ryanair Holdings plc		246
	132,287		Ryanair Holdings plc (ADR)		3,406
	371,909	e	Ryder System, Inc		13,950
	735,000	e	Sagami Railway Co Ltd		2,460
	96,801	*,e	Saia, Inc		1,018
	96	*,m	SAir Group		0	^

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	388,000		Sankyu, Inc	$	1,827
	120,600		Santos Brasil Participacoes S.A.		1,539
	232,067	*,e	SAS AB		366
	20,200		Sebang Co Ltd		231
	294,000		Seino Holdings Corp		2,391
	116,000		Senko Co Ltd		467
	186,300		Shandong Airlines Co Ltd		241
	229,100	m	Shanghai Jinjiang International Investment Holdings Co		176
	141,400		Shenzhen Chiwan Petroleum		130
	259,100	m	Shenzhen Chiwan Wharf Holdings Ltd		263
	876,000	e	Shenzhen Expressway Co Ltd		314
	14,295,000		Shenzhen International Holdings		710
	94,000		Shibusawa Warehouse Co Ltd		299
	438,000		Shih Wei Navigation Co Ltd		434
	215,000		Shinwa Kaiun Kaisha Ltd		311
	1,372,000	e	Shun TAK Holdings Ltd		494
	480,000		Sincere Navigation		394
	419,005	e	Singapore Airlines Ltd		3,628
	926,000		Singapore Airport Terminal Services Ltd		1,544
	3,611,419		Singapore Post Ltd		2,819
	1,982,000		Sinotrans Ltd		386
	2,700,000		Sinotrans Shipping Ltd		596
	38,593		Sixt AG.		724
	42,227		Sixt AG. (Preference)		692
	140,327	*	Skymark Airlines, Inc		2,236
	237,808		Skywest, Inc		2,737
	1,051,000	e	SMRT Corp Ltd		1,399
	196,236		Societa Iniziative Autostradali e Servizi S.p.A.		1,508
	3,458,719	e	Southwest Airlines Co		27,808
	4,712,668	*	SpiceJet Ltd		2,032
	71,400	*,e	Spirit Airlines, Inc		893
	918,323		Stagecoach Group plc		3,496
	394,593		Stobart Group Ltd		785
	56,062		Stolt-Nielsen S.A.		1,036
	115,390		STX Pan Ocean Co Ltd		732
	228,767		Sumitomo Warehouse Co Ltd		1,056
	911,784	*,e	Swift Transportation Co, Inc		5,872
	516,000		T.Join Transportation Co		517
	214,000		Taiwan Navigation Co Ltd		190
	140,170		Tam S.A. (Preference)		2,152
	230,179	*	TAV Havalimanlari Holding AS		908
	55,000		Tegma Gestao Logistica		597
	169,400		Thai Airways International PCL		108
	876,600		Thai Airways International PCL		560
	69,700		Thoresen Thai Agencies PCL		33
	415,500	*	Tianjin Marine Shipping Co Ltd		171
	3,628,000		Tianjin Port Development Holdings Ltd		400
	379,000	*	Tiger Airways Holdings Ltd		239
	42,798		TNT Express NV		299
	2,191,380		TNT NV		9,586
	744,534	e	Tobu Railway Co Ltd		3,507
	1,781,170		Tokyu Corp		8,951

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,374,667	e	Toll Holdings Ltd	$	5,765
	46,500		TPI-Triunfo Participacoes e Investimentos S.A.		240
	97,337	f	TransContainer OAO (GDR) (purchased 03/30/11, cost $1,050)		924
	164,556		TransForce, Inc		1,625
	946,682		Transurban Group		4,922
	683,712	*	Turk Hava Yollari		1,001
	2,576,994	*,e	UAL Corp		49,943
	95,532	*,e	Ultrapetrol Bahamas Ltd		217
	565,300		U-Ming Marine Transport Corp		821
	2,258,534	e	Union Pacific Corp		184,453
	4,662,975		United Parcel Service, Inc (Class B)		294,466
	38,023	e	Universal Truckload Services, Inc		494
	821,903	*,e	US Airways Group, Inc		4,520
	886,594	e	UTI Worldwide, Inc		11,561
	67,336	*	Virgin Blue Holdings Ltd		20
	11,668		VTG AG.		211
	21,222	*	Vueling Airlines S.A.		160
	1,111,057		Wan Hai Lines Ltd		519
	218,990	e	Werner Enterprises, Inc		4,562
	62,000	*	Wesco Aircraft Holdings, Inc		678
	426,792	e	West Japan Railway Co		18,295
	168,472		Wincanton plc		208
	371,800		Wisdom Marine Lines Co Ltd		455
	6,366,000		Xiamen International Port Co Ltd		834
	471,457	e	Yamato Transport Co Ltd		8,595
	1,962,415		Yang Ming Marine Transport		755
	121	*,e	YRC Worldwide, Inc		0	^
	37,700		Yusen Air & Sea Service Co Ltd		499
	5,360,000		Zhejiang Expressway Co Ltd		3,242
	41,459	*,e	Zipcar, Inc		746
			TOTAL TRANSPORTATION		1,742,048
UTILITIES - 3.8%
	9,559,392	e	A2A S.p.A.		11,892
	4,910,331		Aboitiz Power Corp		3,175
	231,714	e	Acciona S.A.		19,534
	1,592,619	e	ACEA S.p.A.		12,760
	1,971,104	*,e	AES Corp		19,238
	5,342,536		AES Gener S.A.		2,622
	160,444		AES Tiete S.A.		2,005
	674,710		AGL Energy Ltd		9,251
	350,542	e	AGL Resources, Inc		14,281
	42,810	*	Akenerji Elektrik Uretim AS		66
	41,494		Alerion Industries S.p.A.		212
	205,525		Algonquin Power & Utilities Corp		1,128
	148,431	e	Allete, Inc		5,437
	595,867	e	Alliant Energy Corp		23,048
	668,549		Ameren Corp		19,903
	1,451,277		American Electric Power Co, Inc		55,178
	76,936	e	American States Water Co		2,610
	1,221,723		American Water Works Co, Inc		36,873

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,000,620		APA Group	$	3,883
	254,257	e	Aqua America, Inc		5,484
	29,456	e	Artesian Resources Corp		516
	127,918		Ascopiave S.p.A.		254
	82,423		Atco Ltd		4,870
	42,859		Athens Water Supply & Sewage Co S.A.		174
	324,150	e	Atlantic Power Corp		4,600
	85,734		Atlantic Power Corp (Toronto)		1,212
	162,268	e	Atmos Energy Corp		5,266
	6,524,000	*	AVIC International Holding HK Ltd		207
	289,778	e	Avista Corp		6,911
	2,147,690	e	Babcock & Brown Wind Partners		468
	5,004,000	*	Beijing Enterprises Water Group Ltd		905
	72,135	*	BF Utilities Ltd		672
	2,324,000	*	Binhai Investment Co Ltd		86
	17,711	e	Bkw Fmb Energie AG.		833
	168,774	e	Black Hills Corp		5,171
	30,295	*	Boralex, Inc		201
	61,358	*,e	Cadiz, Inc		485
	163,531	e	California Water Service Group		2,896
	3,189,536	*	Calpine Corp		44,909
	191,305		Canadian Utilities Ltd		11,339
	114,900	e	Capital Power Corp		2,791
	7,555,470		Centerpoint Energy, Inc		148,238
	391,310		Centrais Eletricas Brasileiras S.A.		3,371
	329,924		Centrais Eletricas Brasileiras S.A. (Preference)		3,769
	10,000		Centrais Eletricas de Santa Catarina S.A.		196
	76,368		Central Vermont Public Service Corp		2,689
	4,854,874		Centrica plc		22,379
	6,060		CESC Ltd		34
	322,401		CEZ AS		12,353
	63,795	e	CH Energy Group, Inc		3,328
	244,853		Challenger Infrastructure Fund		239
	60,703	e	Chesapeake Utilities Corp		2,435
	818,852	e	Cheung Kong Infrastructure Holdings Ltd		4,771
	4,988,000		China Gas Holdings Ltd		1,280
	2,890,000		China Longyuan Power Group Corp		2,378
	5,300,000	*	China Oil and Gas Group Ltd		278
	6,045,000		China Power International Development Ltd		1,095
	8,540,000	*,e	China Power New Energy Development Co Ltd		308
	364,000		China Resources Gas Group Ltd		490
	2,376,599		China Resources Power Holdings Co		3,587
	2,302,000	e	China Water Affairs Group Ltd		645
	4,540,000	*	China WindPower Group Ltd		215
	859,742	e	Chubu Electric Power Co, Inc		16,102
	217,291	e	Chugoku Electric Power Co, Inc		3,822
	184,973		Cia de Saneamento Basico do Estado de Sao Paulo		4,299
	115,300		Cia de Saneamento de Minas Gerais-COPASA		1,824
	53,845		Cia de Transmissao de Energia Electrica Paulista		1,374
	774,037		Cia Energetica de Minas Gerais		11,416
	226,171		Cia Energetica de Sao Paulo (Class B)		3,344
	55,900		Cia Energetica do Ceara		969

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	360,019		Cia Paranaense de Energia	$	6,491
	307,498		Cleco Corp		10,498
	2,344,322		CLP Holdings Ltd		21,120
	1,186,910	e	CMS Energy Corp		23,489
	9,936,346		Colbun S.A.		2,486
	21,760	*	Conergy AG.		9
	35,751	e	Connecticut Water Service, Inc		894
	600,505		Consolidated Edison, Inc		34,241
	69,032	e	Consolidated Water Co, Inc		544
	1,279,236		Constellation Energy Group, Inc		48,689
	1,163,099	*,e	Contact Energy Ltd		4,805
	284,640		CPFL Energia S.A.		3,123
	7,906,000	e	Datang International Power Generation Co Ltd		2,007
	1,665,257	e	Dominion Resources, Inc		84,545
	209,072	e	DPL, Inc		6,301
	800,423		Drax Group plc		5,952
	773,264		DTE Energy Co		37,905
	1,885,345	e	DUET Group		2,930
	2,748,527	e	Duke Energy Corp		54,943
	451,122	*,e	Dynegy, Inc (Class A)		1,859
	2,194,488		E.ON AG.		47,612
	6,160		E1 Corp		271
	2,358,305	e	Edison International		90,205
	8,646,732		Edison S.p.A.		10,912
	115,467		EDP - Energias do Brasil S.A.		2,334
	246,828	*	EDP Renovaveis S.A.		1,344
	212,103	e	El Paso Electric Co		6,806
	186,441	e	Electric Power Development Co		5,509
	57,523		Electricite de France		1,666
	310,500		Electricity Generating PCL		843
	151,652		Eletropaulo Metropolitana de Sao Paulo S.A.		2,295
	52,781		Elia System Operator S.A.		2,142
	166,541	e	Empire District Electric Co		3,228
	632,998		Empresa Electrica del Norte Grande S.A.		1,504
	5,171,231		Empresa Nacional de Electricidad S.A.		7,493
	582,435		Enagas		10,704
	208,929		Enea S.A.		1,003
	1,340,199		Enel Green Power S.p.A		3,053
	18,888,299		Enel S.p.A.		83,377
	11,460,422		Energias de Portugal S.A.		35,298
	1,024,060	*,e	Energy World Corp Ltd		499
	19,304,492		Enersis S.A.		6,569
	350,159	e	Entergy Corp		23,212
	2,051,446		Envestra Ltd		1,304
	882,000		Epure International Ltd		279
	155,900		Equatorial Energia S.A.		962
	48,270		EVN AG.		694
	5,957,815		Exelon Corp		253,861
	7,898,200	*	First Gen Corp		2,515
	493,930		First Philippine Holdings Corp		608
	2,858,985	e	FirstEnergy Corp		128,396
	202,338		Fortis, Inc		6,358

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	469,252		Fortum Oyj	$	11,046
	868,550		GAIL India Ltd		7,248
	414,102		Gas Natural SDG S.A.		7,042
	1,672,610		Gaz de France		49,696
	555,300		Glow Energy PCL		841
	2,221,066	*	GMR Infrastructure Ltd		1,214
	71,029		Great Lakes Hydro Income Fund		1,755
	241,685	e	Great Plains Energy, Inc		4,665
	140,000		Great Taipei Gas Co Ltd		79
	6,758,000	e	Guangdong Investments Ltd		4,200
	194,239		Gujarat State Petronet Ltd		417
	3,777,342	*	GVK Power & Infrastructure Ltd		1,213
	986,836	e	Hastings Diversified Utilities Fund		1,457
	166,146		Hawaiian Electric Industries, Inc		4,034
	810,444	e	Hera S.p.A.		1,228
	133,495	e	Hokkaido Electric Power Co, Inc		1,968
	122,973	e	Hokuriku Electric Power Co		2,269
	5,369,186		Hong Kong & China Gas Ltd		12,086
	1,407,788		Hong Kong Electric Holdings Ltd		10,771
	1,137,130	*	Huadian Energy Co Ltd		353
	10,168,000	e	Huaneng Power International, Inc		4,316
	723,000	e	Hyflux Ltd		816
	833,405		Iberdrola S.A.		5,635
	229,131	e	Idacorp, Inc		8,657
	30,672		Indraprastha Gas Ltd		266
	868,025	e	Infratil Ltd		1,171
	102,923	e	Innergex Renewable Energy, Inc		918
	137,322		Integrys Energy Group, Inc		6,677
	631,505		Interconexion Electrica S.A.		3,796
	954,269	e	International Power plc		4,530
	551,212		Inversiones Aguas Metropolitanas S.A.		754
	554,950		Iride S.p.A.		648
	434,156	e	ITC Holdings Corp		33,617
	135		Japan Wind Development Co Ltd		121
	183,825		Just Energy Income Fund		1,758
	1,462,971	e	Kansai Electric Power Co, Inc		25,282
	8,877		Korea District Heating Corp		449
	323,010	*	Korea Electric Power Corp		5,652
	34,709		Korea Gas Corp		902
	26,537	*	KSK Energy Ventures Ltd		55
	399,799	e	Kyushu Electric Power Co, Inc		6,428
	126,768		Laclede Group, Inc		4,912
	78,100		Macquarie Power & Infrastructure Income Fund		472
	413,900	*	Magma Energy Corp		209
	387,177		Manila Electric Co		2,061
	1,428,200		Manila Water Co, Inc		618
	462,553		MDU Resources Group, Inc		8,876
	108,624	e	MGE Energy, Inc		4,418
	62,613	e	Middlesex Water Co		1,069
	17,800	*	MPX Energia S.A.		337
	195,189		National Fuel Gas Co		9,502
	5,835,256		National Grid plc		57,839

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	208,353	e	New Jersey Resources Corp	$	8,870
	1,527,029		NextEra Energy, Inc		82,490
	228,143		Nicor, Inc		12,550
	3,676,664		NiSource, Inc		78,607
	1,017,757	e	Northeast Utilities		34,248
	93,859		Northland Power Income Fund		1,436
	784,803		Northumbrian Water Group plc		5,660
	120,909	e	Northwest Natural Gas Co		5,332
	158,020		NorthWestern Corp		5,047
	1,786,455	*	NRG Energy, Inc		37,891
	217,881		NSTAR		9,763
	1,254,884		NTPC Ltd		4,280
	5,128,684	e	NV Energy, Inc		75,443
	7,658	e	Oest Elektrizitatswirts AG. (Class A)		220
	448,247		OGE Energy Corp		21,422
	94,400		Okinawa Electric Power Co, Inc		4,219
	389,378		Oneok, Inc		25,714
	72,400	e	Ormat Technologies, Inc		1,164
	2,996,406	e	Osaka Gas Co Ltd		12,449
	149,130	e	Otter Tail Corp		2,729
	20,839	e	Pennichuck Corp		583
	538,580	e	Pennon Group plc		5,643
	1,068,981	e	Pepco Holdings, Inc		20,225
	1,625,900		Petronas Gas BHD		6,578
	2,482,495	e	PG&E Corp		105,034
	378,989		Piedmont Natural Gas Co, Inc		10,949
	577,493	e	Pinnacle West Capital Corp		24,798
	361,084	e	PNM Resources, Inc		5,933
	11,173,450		PNOC Energy Development Corp		1,435
	1,344,271		Polska Grupa Energetyczna S.A.		7,842
	344,104		Portland General Electric Co		8,152
	1,705,117		Power Grid Corp of India Ltd		3,412
	2,455,224	e	PPL Corp		70,072
	1,264,171	e	Progress Energy, Inc		65,383
	17,453,500		PT Perusahaan Gas Negara		5,246
	201,477		PTC India Ltd		279
	70,894		Public Power Corp		563
	3,572,733	e	Public Service Enterprise Group, Inc		119,222
	294,300		Puncak Niaga Holding BHD		105
	4,460		Pusan City Gas Co Ltd		71
	857,896	e	Questar Corp		15,193
	711,900		Ratchaburi Electricity Generating Holding PCL		972
	56,881		Red Electrica de Espana		2,592
	73,500		Redentor Energia S.A.		233
	254,045	e	Redes Energeticas Nacionais S.A.		714
	323,614		Reliance Energy Ltd		2,449
	721,529	*	Reliance Power Ltd		1,123
	11,353,787	*,e	RRI Energy, Inc		31,564
	42,843	e	Rubis		2,158
	1,660,855		RusHydro (ADR)		5,663
	192,194		RWE AG.		7,090
	299		RWE AG. (Preference)		10

187

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,438		Samchully Co Ltd	$	531
	199,288	e	SCANA Corp		8,061
	1,178,915		Scottish & Southern Energy plc		23,657
	23,693	e	Sechilienne-Sidec		398
	607,153		Sempra Energy		31,268
	168,564	e	Severn Trent plc		4,027
	229,850	e	Shikoku Electric Power Co, Inc		6,319
	75,000		Shizuoka Gas Co Ltd		506
	59,737	e	SJW Corp		1,300
	1,186,354	e	Snam Rete Gas S.p.A.		5,477
	125,003		South Jersey Industries, Inc		6,219
	2,913,190	e	Southern Co		123,432
	242,049	e	Southwest Gas Corp		8,755
	1,136,489		SP AusNet		1,021
	1,851,828	f,g	Spark Infrastructure Group (purchased 05/29/09, cost $1,818)		2,214
	190,893		Suez Environnement S.A.		2,657
	1,214,450		Taiwan Cogeneration Corp		745
	1,403,540		Tata Power Co Ltd		2,853
	2,305,737		Tauron Polska Energia S.A.		3,526
	381,533	e	TECO Energy, Inc		6,536
	3,565,218		Tenaga Nasional BHD		5,740
	47,811		Terna Energy S.A.		123
	837,053		Terna Rete Elettrica Nazionale S.p.A.		3,104
	3,045,800		Thai Tap Water Supply PCL		494
	99,391	*,e	Theolia S.A.		123
	12,551		Thessaloniki Water Supply & Sewage Co S.A.		54
	428,208	e	Toho Gas Co Ltd		2,810
	623,798	e	Tohoku Electric Power Co, Inc		8,642
	1,439,506	*,e	Tokyo Electric Power Co, Inc		4,352
	5,503,585		Tokyo Gas Co Ltd		25,562
	1,176,000		Towngas China Co Ltd		588
	193,820		Tractebel Energia S.A.		2,690
	253,792		TransAlta Corp		5,524
	192,178	e	UGI Corp		5,049
	248,677	e	UIL Holdings Corp		8,189
	195,683	e	Unisource Energy Corp		7,062
	484,699		United Utilities Group plc		4,692
	45,343		Unitil Corp		1,164
	212,014	e	Utilities Select Sector SPDR Fund		7,132
	485,768		Vector Ltd		943
	141,422		Vectren Corp		3,830
	538,342	e	Veolia Environnement		7,862
	389,628	e	Westar Energy, Inc		10,294
	261,502	e	WGL Holdings, Inc		10,217
	840,105	e	Wisconsin Energy Corp		26,287
	3,448,386		Xcel Energy, Inc		85,141
	1,244,000		Xinao Gas Holdings Ltd		4,024
	1,090		YESCO Co Ltd		22
	56,905	e	York Water Co		921
	7,867,925		YTL Corp BHD		3,248
	2,798,890		YTL Power International BHD		1,482

188

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,453,400		Zhejiang Southeast Electric Power Co (Class B)	$	672
	52,000		Zhengzhou Gas Co Ltd		64
	354,478	*	Zorlu Enerji Elektrik Uretim AS		341
			TOTAL UTILITIES		3,471,368
			TOTAL COMMON STOCKS		89,191,406
			(Cost $94,920,562)
PREFERRED STOCKS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
	319,300		Daishin Securities Co Ltd Pref 2		1,677
			TOTAL DIVERSIFIED FINANCIALS		1,677
FOOD, BEVERAGE & TOBACCO - 0.0%
	1,161,376	*	Ambev Cia De Bebidas Das		35,053
			TOTAL FOOD, BEVERAGE & TOBACCO		35,053
			TOTAL PREFERRED STOCKS		36,730
			(Cost $24,283)
RIGHTS / WARRANTS - 0.0%
BANKS - 0.0%
	2,479	m	Banco Pine S.A.		0	^
	143,340	m	Hong Leong Bank Bhd		39
	12,780	m	Jeonbuk Bank		0	^
			TOTAL BANKS		39
CAPITAL GOODS - 0.0%
	245,087		Gamuda Berhad		65
	14,548		IJM Corp BHD - Warrants		7
	2,254		Lock & Lock Co Ltd		9
			TOTAL CAPITAL GOODS		81
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	20,240		WCT Berhad		3
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		3
DIVERSIFIED FINANCIALS - 0.0%
	4,296,630		Banco Bilbao Vizcaya Argentaria S.A.		633
	134,907	m	Citadel Capital SAE		0	^
	84,892	m	Daewoo Securities Co Ltd		142
			TOTAL DIVERSIFIED FINANCIALS		775
ENERGY - 0.0%
	123,722		Etablissements Maurel et Prom CW14		49
			TOTAL ENERGY		49
FOOD & STAPLES RETAILING - 0.0%
	1,105,047	m	Goodman Fielder Ltd		53
			TOTAL FOOD & STAPLES RETAILING		53

189

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES COMPANY RATE MATURITY
DATE VALUE
(000)

FOOD, BEVERAGE & TOBACCO - 0.0%
	577,930	m	Bajaj Hindusthan Ltd	$	28
	9,850		Kulim Malaysia BHD		3
	3,040		QL Resources BHD		1
	8,333		Xiwang Sugar Holdings Co Ltd		0	^
			TOTAL FOOD, BEVERAGE & TOBACCO		32
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	1,300,000	m	EnteroMedics, Inc		13
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		13
MATERIALS - 0.0%
	4,157		Aekyung Petrochemical Co Ltd		19
	1,558		Kinross Gold Corp		4
	696	m	Sahaviriya Steel Industries PCL		0	^
			TOTAL MATERIALS		23
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	78,480		Sanofi-Aventis S.A.		83
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		83
REAL ESTATE - 0.0%
	4,761,352	m	GPT Group		0	^
	66,140		IJM Land BHD - CW13		17
	122,437		SP Setia BHD		35
			TOTAL REAL ESTATE		52
RETAILING - 0.0%
	83	m	Lojas Americanas S.A.		3
			TOTAL RETAILING		3
			TOTAL RIGHTS / WARRANTS		1,206
			(Cost $814)

PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 7.1%
GOVERNMENT AGENCY DEBT - 0.1%
			Federal Home Loan Bank (FHLB)
$	50,000,000		FHLB		0.001	%	10/03/11	50,000
	36,200,000		FHLB		0.200		10/21/11	36,199
			Federal Home Loan Mortgage Corp (FHLMC)
	4,000,000		FHLMC		0.047		01/09/12	4,000
			TOTAL GOVERNMENT AGENCY DEBT					90,199
TREASURY DEBT - 0.4%
	55,200,000	d	United States Treasury Bill		0.050		10/20/11	55,198
	3,000,000		United States Treasury Bill		0.065		12/22/11	3,000
	130,000,000		United States Treasury Bill	0.031 - 0.042			05/31/12	129,939
	142,000,000		United States Treasury Bill		0.045		06/28/12	141,908
			TOTAL TREASURY DEBT					330,045

190

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 6.6%
REPURCHASE AGREEMENTS - 5.9%
$	250,990,000	o	Barclays Capital	0.050	%	10/03/11	$	250,990
	695,000,000	p	BNP	0.020		10/03/11		695,000
	945,000,000	q	Calyon	0.050		10/03/11		945,000
	140,000,000	r	Citigroup	0.040		10/03/11		140,000
	725,000,000	s	CSFB	0.050		10/03/11		725,000
	78,000,000	t	Deutsche Bank	0.030		10/03/11		78,000
	100,000,000	u	HSBC	0.030		10/03/11		100,000
	200,000,000	v	JP Morgan Chase & Co	0.010		10/03/11		200,000
	540,000,000	w	Merrill Lynch	0.040		10/03/11		540,000
	77,000,000	x	Morgan Stanley	0.030		10/03/11		77,000
	520,000,000	y	Nomura Securities	0.040		10/03/11		520,000
	852,000,000	z	Royal Bank of Scotland	0.050		10/03/11		852,000
	217,000,000	aa	UBS Warburg	0.030		10/03/11		217,000
			TOTAL REPURCHASE AGREEMENTS					5,339,990
VARIABLE RATE SECURITY - 0.7%
	58,000,000		American Express Credit Account Master	0.530		10/15/12		58,135
	51,000,000		Chase Issuance Trust 2007	0.590		06/15/12		50,967
	9,046,494		GE Equipment Midticket LLC	0.530		11/14/11		9,046
	17,000,000		General Electric Cap Corp	0.760		11/21/11		16,994
	19,349,741		Granite Master Issuer plc 2006	0.570		12/20/50		18,334
	15,299,782		Granite Master Issuer plc 2007	0.490		12/20/50		14,497
	8,137,156		Medallion Trust Series 2005	0.470		08/22/36		7,875
	34,518,799		Nelnet Student Loan Trust 2006	0.470		11/23/18		34,459
	24,307,442		Nelnet Student Loan Trust 2007	0.610		09/25/18		24,233
	135,000,000		Permanent Master Issuer plc	0.700		10/15/33		134,711
	18,317,650		Puma Global Mortgage Backed Trust	0.480		02/21/38		17,177
	2,779,437		SLM Student Loan Trust 2006	0.770		01/25/19		2,779
	170,000,000		SLM Student Loan Trust 2007	0.440		01/25/19		163,890
	40,440,798		SLM Student Loan Trust 2008	0.600		10/25/16		40,458
			TOTAL VARIABLE RATE SECURITY					593,555
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED					5,933,545
			TOTAL SHORT-TERM INVESTMENTS					6,353,789
			(Cost $6,361,654)
			TOTAL INVESTMENTS - 106.4%					95,583,198
			(Cost $101,307,384)
			OTHER ASSETS & LIABILITIES, NET - (6.4)%					(5,778,320	)
			NET ASSETS - 100.0%				$	89,804,878
			Abbreviation(s):
	ADR		American Depositary Receipt
	ETF		Exchange Traded Fund
	GDR		Global Depositary Receipt
	NVDR		Non Voting Depositary Receipt
	REIT		Real Estate Investment Trust
	SPDR		Standard & Poor’s Depositary Receipts

191

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

*	Non-income producing.
^	Amount represents less than $1,000.
a	Affiliated holding.
b	In bankruptcy
d	All or a portion of these securities have been segregated by the custodian to cover requirements on swap agreements.
e	All or a portion of these securities are out on loan.
f	Restricted security. At 9/30/2011, the value of these securities amounted to $137,512,000 or 0.2% of net assets.
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, 2011 the value of these securities amounted to $3,014,000 or 0.0% 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
o	Agreement with Barclays Capital, 0.05% dated 09/30/11 to be repurchased at $250,990,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $256,010,000.
p	Agreement with BNP, 0.02% dated 09/30/11 to be repurchased at $695,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $708,900,000.
q	Agreement with Calyon, 0.05% dated 09/30/11 to be repurchased at $945,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $963,900,000.
r	Agreement with Citigroup, 0.04% dated 09/30/11 to be repurchased at $140,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $102,000,000.
s	Agreement with CSFB, 0.05% dated 09/30/11 to be repurchased at $725,003,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $739,502,000.
t	Agreement with Deutsche Bank, 0.03% dated 09/30/11 to be repurchased at $78,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $79,560,000.
u	Agreement with HSBC, 0.03% dated 09/30/11 to be repurchased at $100,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $102,003,000.
v	Agreement with JP Morgan Chase, 0.10% dated 09/30/11 to be repurchased at $200,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $204,004,000.
w	Agreement with Merrill Lynch, 0.04% dated 09/30/11 to be repurchased at $540,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $550,800,000.
x	Agreement with Morgan Stanley, 0.03% dated 09/30/11 to be repurchased at $77,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $78,540,000.
y	Agreement with Nomura Securities, 0.04% dated 09/30/11 to be repurchased at $520,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $530,400,000.
z	Agreement with Royal Bank of Scotland, 0.05% dated 09/30/11 to be repurchased at $852,004,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $869,043,000.
aa	Agreement with UBS Warburg, 0.05% dated 09/30/11 to be repurchased at $217,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $221,340,000.
	Cost amounts are in thousands.

192

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
September 30, 2011

COUNTRY	VALUE (000)		% OF TOTAL PORTFOLIO
DOMESTIC
UNITED STATES	$	68,697,483		71.9	%
TOTAL DOMESTIC		68,697,483		71.9
FOREIGN
ARGENTINA		4,058		0.0
AUSTRALIA		1,323,740		1.4
AUSTRIA		103,799		0.1
BAHAMAS		208		0.0
BELGIUM		259,217		0.3
BERMUDA		39,947		0.0
BRAZIL		878,712		0.9
CAMBODIA		262		0.0
CANADA		2,519,995		2.6
CAYMAN ISLANDS		3,774		0.0
CHILE		88,859		0.1
CHINA		1,022,729		1.1
COLOMBIA		49,335		0.1
CYPRUS		2,824		0.0
CZECH REPUBLIC		25,258		0.0
DENMARK		162,349		0.2
EGYPT		20,210		0.0
FINLAND		128,774		0.1
FRANCE		1,495,337		1.6
GERMANY		1,406,502		1.5
GIBRALTAR		10,668		0.0
GREECE		23,556		0.0
GUERNSEY, C.I.		2,612		0.0
HONG KONG		534,950		0.6
HUNGARY		12,034		0.0
INDIA		583,624		0.6
INDONESIA		177,154		0.2
IRELAND		323,272		0.3
ISRAEL		162,165		0.2
ITALY		418,655		0.4
JAPAN		4,166,399		4.4
JERSEY, C.I.		1,942		0.0
KAZAKHSTAN		13,511		0.0
KOREA, REPUBLIC OF		919,547		1.0
LIECHTENSTEIN		1,595		0.0
LUXEMBOURG		19,851		0.0
MACAU		70,189		0.1
MALAYSIA		202,897		0.2
MEXICO		322,889		0.4

193

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COUNTRY	VALUE (000)		% OF TOTAL PORTFOLIO
MONACO	$	478		0.0	%
MOROCCO		9,713		0.0
NETHERLANDS		813,906		0.9
NEW ZEALAND		33,662		0.0
NORWAY		142,896		0.2
PANAMA		19,048		0.0
PERU		29,275		0.0
PHILIPPINES		47,465		0.0
POLAND		111,281		0.1
PORTUGAL		73,483		0.1
PUERTO RICO		2,373		0.0
RUSSIA		337,281		0.4
SINGAPORE		228,638		0.2
SOUTH AFRICA		464,467		0.5
SPAIN		419,110		0.4
SWEDEN		451,890		0.5
SWITZERLAND		1,368,512		1.4
TAIWAN		752,876		0.8
THAILAND		123,233		0.1
TURKEY		101,390		0.1
UKRAINE		2,488		0.0
UNITED ARAB EMIRATES		25,992		0.0
UNITED KINGDOM		3,822,269		4.0
VIRGIN ISLANDS, BRITISH		590		0.0
TOTAL FOREIGN		26,885,715		28.1
TOTAL PORTFOLIO	$	95,583,198		100.0	%

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2011

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.1%
AUSTRALIA - 2.4%
	134,195		AGL Energy Ltd	$	1,840
	712,794	e	Alumina Ltd		994
	324,341		Amcor Ltd		2,147
	957,801		AMP Ltd		3,598
	548,904	e	Asciano Group		756
	1,500,000	*	Austar United Communications Ltd		1,667
	702,555	*	Australia & New Zealand Banking Group Ltd		13,040
	53,165		Australian Stock Exchange Ltd		1,544
	44,983	e	Bendigo Bank Ltd		364
	1,248,566		BHP Billiton Ltd		41,341
	525,474	e	BlueScope Steel Ltd		362
	90,395	e	Boral Ltd		301
	412,361		Brambles Ltd		2,542
	16,894		Caltex Australia Ltd		174
	260,652	e	CFS Gandel Retail Trust		437
	1,224,031	e	Challenger Financial Services Group Ltd		4,965
	164,876	e	Coca-Cola Amatil Ltd		1,889
	33,492	e	Cochlear Ltd		1,485
	356,031	e	Commonwealth Bank of Australia		15,484
	141,141		Computershare Ltd		1,005
	58,516	e	Crown Ltd		446
	159,774	e	CSL Ltd		4,536
	723,184	e	David Jones Ltd		2,079
	697,140		DB RREEF Trust		549
	63,698		DuluxGroup Ltd		153
	84,978	*	Echo Entertainment Group Ltd		300
	146,683		First Quantum Minerals Ltd		1,953
	690,459	e	Fortescue Metals Group Ltd		2,884
	151,037		Foster’s Group Ltd		772
	253,672		GPT Group (ASE)		763
	59,527	e	Harvey Norman Holdings Ltd		122
	32,606	e	Iluka Resources Ltd		382
	291,226	e	Incitec Pivot Ltd		902
	575,349		Insurance Australia Group Ltd		1,666
	263,997	e	John Fairfax Holdings Ltd		207
	41,848	e	Leighton Holdings Ltd		743
	185,209		Lend Lease Corp Ltd		1,244
	132,319	*,e	Lynas Corp Ltd		135
	507,933		MacArthur Coal Ltd		7,767
	65,599		Macquarie Airports		203
	820,923		Macquarie Goodman Group		450
	113,721	*	Macquarie Group Ltd		2,459
	110,871		Metcash Ltd		437
	1,050,208		Mirvac Group		1,155

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	207,946		Monadelphous Group Ltd	$	3,445
	811,998		National Australia Bank Ltd		17,248
	221,299		Newcrest Mining Ltd		7,294
	395,589		OneSteel Ltd		464
	172,512		Orica Ltd		3,872
	328,687		Origin Energy Ltd		4,206
	105,594		Oxiana Ltd		941
	77,375	*,e	Paladin Resources Ltd		89
	138,231	*	Qantas Airways Ltd		185
	423,214		QBE Insurance Group Ltd		5,197
	131,922		QR National Ltd		399
	210,000	e	Ramsay Health Care Ltd		3,834
	496,272		Rio Tinto Ltd		29,068
	255,437		Santos Ltd		2,764
	20,106	e	Sims Group Ltd		241
	36,009	e	Sonic Healthcare Ltd		394
	175,802		SP AusNet		158
	752,520	e	Stockland Trust Group		2,095
	416,291		Suncorp-Metway Ltd		3,169
	85,264		Tabcorp Holdings Ltd		210
	162,791		Tattersall’s Ltd		348
	1,449,078	e	Telstra Corp Ltd		4,316
	230,157	e	Toll Holdings Ltd		965
	334,311		Transurban Group		1,737
	328,540		Wesfarmers Ltd		9,927
	11,847		Wesfarmers Ltd PPS		364
	4,506,313		Westfield Group		33,418
	2,835,226		Westfield Retail Trust		6,598
	673,072	e	Westpac Banking Corp		13,034
	190,044		Woodside Petroleum Ltd		5,888
	338,666		Woolworths Ltd		8,093
	35,568	e	WorleyParsons Ltd		887
			TOTAL AUSTRALIA		299,090
AUSTRIA - 0.2%
	40,000		Andritz AG.		3,257
	379,276		Erste Bank der Oesterreichischen Sparkassen AG.		9,673
	56,425	*,e	IMMOFINANZ Immobilien Anlagen AG		160
	9,114	e	Oest Elektrizitatswirts AG. (Class A)		262
	110,000	e	Oesterreichische Post AG.		3,128
	16,785		OMV AG.		500
	5,555	e	Raiffeisen International Bank Holding AG.		161
	34,953		Telekom Austria AG.		353
	11,938		Voestalpine AG.		345
	5,231		Wiener Staedtische Allgemeine Versicherung AG.		199
	962,653		Wienerberger AG.		11,215
			TOTAL AUSTRIA		29,253
BELGIUM - 0.7%
	31,925	*	Anheuser-Busch InBev NV		0	^
	2,157	e	Bekaert S.A.		88
	44,385		Belgacom S.A.		1,336

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	45,696		Colruyt S.A.	$	1,898
	10,796		Delhaize Group		631
	74,311	*	Dexia		141
	281,050		Fortis		484
	8,621		Groupe Bruxelles Lambert S.A.		605
	477	*	Groupe Bruxelles Lambert S.A. - STR VVPR		0	^
	1,005,046		InBev NV		53,347
	20,411		KBC Groep NV		471
	3,526		Mobistar S.A.		201
	78,636		Solvay S.A.		7,404
	527,808	e	UCB S.A.		22,494
	12,153		Umicore		441
			TOTAL BELGIUM		89,541
BERMUDA - 0.0%
	89,800		Validus Holdings Ltd		2,238
			TOTAL BERMUDA		2,238
BRAZIL - 0.8%
	400,000		Banco Bradesco S.A. (Preference)		5,895
	700,000		Banco do Estado do Rio Grande do Sul		5,957
	1,234,020		BM&FBOVESPA S.A.		5,769
	140,000		Bradespar S.A.		2,464
	145,000	e	Braskem S.A. (ADR)		2,265
	180,000		Cia de Saneamento Basico do Estado de Sao Paulo		4,183
	225,000		Cosan SA Industria e Comercio		2,868
	250,000		EDP - Energias do Brasil S.A.		5,053
	170,000		Eletropaulo Metropolitana de Sao Paulo S.A.		2,573
	300,000		Light S.A.		3,947
	1,150,000		Marcopolo S.A.		4,220
	450,000		Mills Estruturas e Servicos de		4,619
	650,000		MRV Engenharia e Participacoes S.A.		3,329
	1,733,700	*	OGX Petroleo e Gas Participacoes S.A.		10,604
	2,416,240		PDG Realty S.A.		7,877
	250,000		Perdigao S.A.		4,279
	724,944		Petroleo Brasileiro S.A. (ADR)		16,275
	1,008,720		Tim Participacoes S.A.		4,667
			TOTAL BRAZIL		96,844
CANADA - 4.3%
	53,058		Agnico-Eagle Mines Ltd		3,172
	193,847		Agrium, Inc (Toronto)		12,903
	39,734		Alimentation Couche Tard, Inc		1,115
	83,028		ARC Energy Trust		1,787
	81,568	*	Athabasca Oil Sands Corp		834
	197,761		Bank of Montreal		11,072
	397,851		Bank of Nova Scotia		20,016
	384,614		Barrick Gold Corp		17,942
	814,419		Barrick Gold Corp (Canada)		38,168
	30,754		Baytex Energy Trust		1,286
	221,526		BCE, Inc		8,306
	20,514		Bell Aliant Regional Communications Income Fund		541

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	90,855		Biovail Corp (Toronto)	$	3,387
	489,597		Bombardier, Inc		1,715
	38,513		Bonavista Energy Trust		866
	184,594		Brookfield Asset Management, Inc		5,105
	82,325		CAE, Inc		772
	125,897		Cameco Corp		2,312
	146,427		Canadian Imperial Bank of Commerce/Canada		10,254
	354,874		Canadian National Railway Co		23,716
	438,658		Canadian Natural Resources Ltd (Canada)		12,881
	146,854		Canadian Oil Sands Trust		2,857
	108,478		Canadian Pacific Railway Ltd		5,230
	24,940		Canadian Tire Corp Ltd		1,357
	29,274		Canadian Utilities Ltd		1,735
	39,785		Canadian Western Bank		975
	262,000		Cenovus Energy, Inc		8,046
	480,266		Cenovus Energy, Inc (Toronto)		14,790
	44,867		Centerra Gold, Inc		835
	517,438	*	CGI Group, Inc		9,733
	53,940		CI Financial Corp		1,068
	399,751		Crescent Point Energy Corp		15,049
	167,338		Eldorado Gold Corp		2,882
	9,251		Empire Co Ltd		508
	282,684		Enbridge, Inc		9,024
	234,746		EnCana Corp		4,518
	60,254		Enerplus Resources Fund		1,488
	3,736		Ensign Energy Services, Inc		49
	6,790		Fairfax Financial Holdings Ltd		2,603
	57,817		Finning International, Inc		1,057
	58,202		Fortis, Inc		1,829
	39,736		Franco-Nevada Corp		1,438
	16,450		George Weston Ltd		1,087
	36,964		Gildan Activewear, Inc		959
	250,595		Goldcorp, Inc		11,495
	96,556		Great-West Lifeco, Inc		1,899
	89,717		Husky Energy, Inc		1,943
	117,876		IAMGOLD Corp		2,343
	39,806		IGM Financial, Inc		1,692
	100,143		Imperial Oil Ltd		3,597
	26,754		Industrial Alliance Insurance and Financial Services, Inc		790
	35,721		ING Canada, Inc		1,961
	16,666		Inmet Mining Corp		706
	71,753	*	Ivanhoe Mines Ltd		989
	339,999		Kinross Gold Corp		5,052
	35,705		Loblaw Cos Ltd		1,344
	3,311	*,e	Lululemon Athletica, Inc		161
	73,841		Magna International, Inc (Class A)		2,442
	150,000		Manitoba Telecom Services, Inc		4,641
	556,940		Manulife Financial Corp		6,346
	33,910	*	MEG Energy Corp		1,254
	35,595		Metro, Inc		1,556
	54,844		National Bank of Canada		3,658
	115,642	*	New Gold, Inc		1,194

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	177,593		Nexen, Inc	$	2,762
	15,587		Niko Resources Ltd		642
	30,390		Onex Corp		947
	19,567	*	Open Text Corp		1,023
	93,677	*	Osisko Mining Corp		1,186
	79,450		Pacific Rubiales Energy Corp (Toronto)		1,683
	31,802		Pan American Silver Corp		857
	89,081		Pengrowth Energy Trust		805
	153,396		Penn West Energy Trust		2,276
	25,809		PetroBakken Energy Ltd		166
	100,000		Petrominerales Ltd		1,966
	400,716		Potash Corp of Saskatchewan Toronto		17,399
	118,161		Power Corp Of Canada		2,590
	83,895		Power Financial Corp		2,054
	413,363	*	Precision Drilling Trust		3,444
	57,696		ProEx Energy Ltd		710
	152,073	*	Research In Motion Ltd (Canada)		3,100
	39,915		RioCan Real Estate Investment Trust		990
	33,411		Ritchie Bros Auctioneers, Inc		678
	154,935		Rogers Communications, Inc (Class B)		5,303
	657,177		Royal Bank of Canada (Toronto)		30,140
	48,485		Saputo, Inc		1,910
	124,372	*	Shaw Communications, Inc (B Shares)		2,523
	73,024		Shoppers Drug Mart Corp		2,847
	110,382		Silver Wheaton Corp		3,259
	51,230		SNC-Lavalin Group, Inc		2,153
	182,921		Sun Life Financial, Inc		4,369
	761,827		Suncor Energy, Inc		19,455
	488,189		Suncor Energy, Inc (NY)		12,420
	325,495		Talisman Energy, Inc		4,001
	180,414		Teck Cominco Ltd		5,323
	18,469		TELUS Corp		905
	50,345		TELUS Corp, non-voting shares		2,347
	119,818		Thomson Corp (Toronto)		3,247
	22,685		Tim Hortons, Inc		1,050
	54,581		Tim Hortons, Inc (Toronto)		2,537
	105,818		TMX Group, Inc		4,134
	464,095		Toronto-Dominion Bank		33,034
	32,669	*	Tourmaline Oil Corp		961
	70,399		TransAlta Corp		1,532
	221,374		TransCanada Corp		8,987
	200,000		Trican Well Service Ltd		2,836
	24,534		Vermilion Energy Trust		1,031
	116,278		Viterra, Inc		1,144
	236,981		Yamana Gold, Inc		3,252
			TOTAL CANADA		528,308
CHILE - 0.0%
	300,000		Empresa Nacional de Telecomunicaciones S.A.		5,772
			TOTAL CHILE		5,772

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
CHINA - 0.9%
	2,400,000	e	Agile Property Holdings Ltd	$	1,557
	718,000		Agricultural Bank of China		234
	11,532,000		Air China Ltd		8,006
	22,700	*	Baidu, Inc (ADR)		2,427
	2,449,700	e	Bank of Communications Co Ltd		1,451
	3,000,000	*,e	Brilliance China Automotive Holdings Ltd		2,326
	50,130,200		Changsha Zoomlion Heavy Industry Science and Technology Development Co Ltd		56,018
	1,015,000		China Aoyuan Property Group Ltd		96
	1,208,000		China Merchants Bank Co Ltd		1,827
	400,000		China Mobile Hong Kong Ltd		3,910
	664,000		China Overseas Land & Investment Ltd		948
	2,910,000		CNOOC Ltd		4,679
	3,834,000		Dah Chong Hong Holdings Ltd		3,935
	189,000		Glorious Property Holdings Ltd		25
	3,300,000		Great Wall Motor Co Ltd		3,758
	6,221,000		Industrial & Commercial Bank of China		3,004
	5,000,000		iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		6,652
	8,736	*,e	RENREN,Inc (ADR)		45
	4,900,000		Shandong Weigao Group Medical Polymer Co Ltd		5,447
	1,920,500	e	Shimao Property Holdings Ltd		1,443
	5,438,865		Sino-Ocean Land Holdings Ltd		1,732
	1,400,000		Zhaojin Mining Industry Co Ltd		2,329
			TOTAL CHINA		111,849
CYPRUS - 0.0%
	95,304		Bank of Cyprus Public Co Ltd		147
			TOTAL CYPRUS		147
CZECH REPUBLIC - 0.1%
	140,000	e	CEZ AS		5,364
			TOTAL CZECH REPUBLIC		5,364
DENMARK - 0.7%
	68		AP Moller - Maersk AS (Class A)		381
	131		AP Moller - Maersk AS (Class B)		770
	11,358		Carlsberg AS (Class B)		673
	1,057,912		Christian Hansen Holding		21,914
	2,430		Coloplast AS (Class B)		350
	59,939	*	Danske Bank AS		838
	25,758		DSV AS		463
	140,000		H Lundbeck AS		2,664
	462,479		Novo Nordisk AS (Class B)		46,125
	5,853	e	Novozymes AS (B Shares)		832
	3,659		Pandora AS		24
	722,040		TDC AS		5,899
	30,000	*	Topdanmark AS		4,695
	2,575	e	TrygVesta AS		135
	25,864	*,e	Vestas Wind Systems AS		419
	2,526	*,e	William Demant Holding		190
			TOTAL DENMARK		86,372

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
FINLAND - 0.2%
	17,201		Elisa Oyj (Series A)	$	352
	468,354		Fortum Oyj		11,025
	6,796		Kesko Oyj (B Shares)		209
	38,094		Kone Oyj (Class B )		1,812
	16,148		Metso Oyj		473
	13,232	e	Neste Oil Oyj		115
	320,419		Nokia Oyj		1,812
	11,547		Nokian Renkaat Oyj		346
	214,277	e	OKO Bank (Class A)		2,254
	215,651		Orion Oyj (Class B)		4,342
	12,758	e	Outokumpu Oyj		84
	25,865		Outotec Oyj		923
	8,720	e	Rautaruukki Oyj		87
	53,418		Sampo Oyj (A Shares)		1,342
	8,392	e	Sanoma-WSOY Oyj		99
	62,231		Stora Enso Oyj (R Shares)		364
	55,415		UPM-Kymmene Oyj		626
	32,859		Wartsila Oyj (B Shares)		780
			TOTAL FINLAND		27,045
FRANCE - 3.5%
	81,987		Accor S.A.		2,183
	4,026		Aeroports de Paris		303
	14,446	*,e	Air France-KLM		106
	26,242		Air Liquide		3,064
	246,600	*,e	Alcatel S.A.		715
	21,854	e	Alstom RGPT		720
	279,541		Arkema		16,188
	501,491		Atos Origin S.A.		21,643
	177,555		AXA S.A.		2,310
	120,711		BNP Paribas		4,759
	18,635	e	Bouygues S.A.		616
	43,468		Bureau Veritas S.A.		3,125
	18,571		Cap Gemini S.A.		617
	64,534		Carrefour S.A.		1,470
	5,900		Casino Guichard Perrachon S.A.		461
	3,333		Christian Dior S.A.		373
	18,375		CNP Assurances		271
	410,579		Compagnie de Saint-Gobain		15,664
	15,310	*	Compagnie Generale de Geophysique S.A.		270
	1	*	Compagnie Generale de Geophysique-Veritas (ADR)		0	^
	25,482		Compagnie Generale d’Optique Essilor International S.A.		1,832
	98,995		Credit Agricole S.A.		681
	7,773	e	Dassault Systemes S.A.		549
	2,801,902		Edenred		66,750
	79,361		Eiffage S.A.		2,448
	31,720		Electricite de France		919
	565		Eramet		78
	170,000	e	Etablissements Maurel et Prom		2,767
	3,273		Eurazeo		137
	7,870		Eutelsat Communications		316

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	120,000	e	Faurecia	$	2,556
	3,256		Fonciere Des Regions		227
	127,961		France Telecom S.A.		2,094
	141,010		Gaz de France		4,190
	2,093		Gecina S.A.		183
	591,843		Groupe Danone		36,384
	31,151		Groupe Eurotunnel S.A.		264
	2,244		Icade		175
	1,060	e	Iliad S.A.		118
	3,540		Imerys S.A.		177
	623,327	*	JC Decaux S.A.		15,470
	12,242	e	Klepierre		343
	21,342	e	Lafarge S.A.		734
	7,042		Lagardere S.C.A.		173
	16,194		Legrand S.A.		505
	18,627	e	L’Oreal S.A.		1,817
	114,663		LVMH Moet Hennessy Louis Vuitton S.A.		15,137
	3,335		M6-Metropole Television		54
	13,934		Michelin (C.G.D.E.) (Class B)		833
	91,866		Natixis		289
	3,858	e	Neopost S.A.		283
	18,945	e	Pernod-Ricard S.A.		1,483
	9,099		Peugeot S.A.		194
	7,117		PPR		920
	9,893	e	Publicis Groupe S.A.		413
	479,662		Remy Cointreau S.A.		33,067
	20,190		Renault S.A.		669
	512,786		Rexel S.A.		7,646
	22,346		Safran S.A.		684
	816,907		Sanofi-Aventis		53,733
	126,082		Schneider Electric S.A.		6,747
	17,884		SCOR		386
	63,777		Societe BIC S.A.		5,430
	64,604		Societe Generale		1,691
	7,119	e	Societe Television Francaise 1		89
	7,518		Sodexho Alliance S.A.		495
	16,085		Suez Environnement S.A.		224
	357,831		Technip S.A.		28,668
	11,872		Thales S.A.		371
	532,512		Total S.A.		23,494
	11,052		Unibail		1,972
	106,000		Valeo S.A.		4,456
	317,494		Vallourec		18,182
	20,822		Veolia Environnement		304
	46,343		Vinci S.A.		1,988
	128,976		Vivendi Universal S.A.		2,626
	56,842	e	Wendel		3,562
			TOTAL FRANCE		432,835
GERMANY - 2.7%
	16,437		Adidas-Salomon AG.		1,000
	374,404		Allianz AG.		35,094

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,196		Axel Springer AG.	$	76
	317,701		BASF AG.		19,369
	332,792		Bayer AG.		18,365
	106,692		Bayerische Motoren Werke AG.		7,048
	448		Bayerische Motoren Werke AG. (Preference)		21
	284,220		Beiersdorf AG.		15,207
	135,642		Brenntag AG.		11,767
	10,465		Celesio AG.		138
	696,610	*	Commerzbank AG.		1,746
	4,542	*	Continental AG.		262
	689,187		DaimlerChrysler AG. (EUR)		30,652
	68,252		Deutsche Bank AG.		2,365
	13,698	e	Deutsche Boerse AG.		691
	11,017	*	Deutsche Boerse AG. - New		557
	24,283		Deutsche Lufthansa AG.		315
	90,635		Deutsche Post AG.		1,160
	724,555		Deutsche Telekom AG.		8,505
	205,076		E.ON AG.		4,449
	3,749		Fraport AG. Frankfurt Airport Services Worldwide		221
	194,579		Fresenius Medical Care AG.		13,200
	13,506		Fresenius SE		1,201
	60,000		Fuchs Petrolub AG. (Preference)		2,455
	10,374		GEA Group AG.		242
	7,661		Hannover Rueckversicherung AG.		346
	14,981		HeidelbergCement AG.		544
	13,904		Henkel KGaA		609
	69,032		Henkel KGaA (Preference)		3,671
	2,560		Hochtief AG.		160
	115,180		Infineon Technologies AG.		850
	18,271		K&S AG.		956
	363,613	*	Kabel Deutschland Holding AG.		19,495
	399,004		Lanxess AG.		19,140
	10,110		Linde AG.		1,353
	31,969		MAN AG.		2,478
	1,840		MAN SE		232
	33,870		Merck KGaA		2,774
	13,156		Metro AG.		558
	73,000		MTU Aero Engines Holding AG.		4,552
	232,353		Muenchener Rueckver AG.		28,857
	60,000		Norddeutsche Affinerie AG.		3,034
	14,326		Porsche AG.		682
	4,504		ProSiebenSat.1 Media AG.		79
	80,878		Rheinmetall AG.		3,794
	37,734		RWE AG.		1,392
	3,812		RWE AG. (Preference)		132
	4,075		Salzgitter AG.		196
	578,576		SAP AG.		29,440
	202,980		Siemens AG.		18,262
	851	e	Solarworld AG.		4
	500,269	*	Stroer Out-of-Home Media AG.		7,169
	6,885		Suedzucker AG.		196
	38,379		ThyssenKrupp AG.		943

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	8,436	*	TUI AG.	$	43
	6,440	e	United Internet AG.		109
	2,872		Volkswagen AG.		354
	40,943		Volkswagen AG. (Preference)		5,403
	950	e	Wacker Chemie AG.		84
			TOTAL GERMANY		333,997
GIBRALTAR - 0.0%
	1,400,000		PartyGaming plc		2,674
			TOTAL GIBRALTAR		2,674
GREECE - 0.0%
	54,442	*	Alpha Bank S.A.		95
	23,188		Coca Cola Hellenic Bottling Co S.A.		409
	162,767	e	Costamare, Inc		2,010
	36,401	*	EFG Eurobank Ergasias S.A.		45
	19,850		Hellenic Telecommunications Organization S.A.		84
	6,560		Marfin Investment Group S.A		2
	95,926	*	National Bank of Greece S.A.		347
	50,836		OPAP S.A.		513
	10,066		Public Power Corp		80
			TOTAL GREECE		3,585
HONG KONG - 0.9%
	2,637,200		AIA Group Ltd		7,468
	15,558	e	ASM Pacific Technology		152
	152,293	e	Bank of East Asia Ltd		468
	2,798,948		BOC Hong Kong Holdings Ltd		5,918
	92,237	e	Cathay Pacific Airways Ltd		151
	594,111		Cheung Kong Holdings Ltd		6,441
	35,661	e	Cheung Kong Infrastructure Holdings Ltd		208
	6,500,000		China Resources Cement Holdings Ltd		4,279
	1,694,000	e	China Resources Land Ltd		1,822
	10,170	e	Chinese Estates Holdings Ltd		17
	1,000,000		Chow Sang Sang Holding		2,154
	489,456		CLP Holdings Ltd		4,410
	285,131	e	Esprit Holdings Ltd		345
	2,215,200	*,e,f	Galaxy Entertainment Group Ltd (purchased 05/18/11, cost $4,183)		3,218
	207,927		Hang Lung Group Ltd		1,059
	564,337		Hang Lung Properties Ltd		1,679
	283,170	e	Hang Seng Bank Ltd		3,317
	277,005		Henderson Land Development Co Ltd		1,244
	1,449,690		Hong Kong & China Gas Ltd		3,263
	289,779		Hong Kong Electric Holdings Ltd		2,217
	286,185	e	Hong Kong Exchanges and Clearing Ltd		4,151
	61,217		Hopewell Holdings		176
	402,700		Hutchison Port Holdings Trust		269
	318,416		Hutchison Whampoa Ltd		2,356
	50,294		Hysan Development Co Ltd		152
	379,427		Kerry Properties Ltd		1,211
	16,528,800	e	KWG Property Holding Ltd		6,128

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,682,638	e	Li & Fung Ltd	$	2,808
	46,000		Lifestyle International Holdings Ltd		117
	223,812		Link Real Estate Investment Trust		707
	1,094,400	*	MGM China Holdings Ltd		1,450
	416,415		MTR Corp		1,246
	4,040,200		New World Development Ltd		3,863
	724	*	Newton Resources Ltd		0	^
	347,640		Noble Group Ltd		347
	141,887		NWS Holdings Ltd		188
	15,364		Orient Overseas International Ltd		61
	309,749		PCCW Ltd		115
	13,155,000		Rexcapital Financial Holdings Ltd		782
	36,440,500		Ruinian International Ltd		13,780
	5,194,800	*	Samsonite International		7,338
	2,192,000		Shanghai Real Estate Ltd		102
	113,270		Shangri-La Asia Ltd		217
	7,000,000		Singamas Container Holdings Ltd		1,152
	235,142	e	Sino Land Co		311
	77,120	*	Sino-Forest Corp		354
	126,000		SJM Holdings Ltd		223
	14,335,611		Solomon Systech International Ltd		286
	355,222		Sun Hung Kai Properties Ltd		4,075
	158,793		Swire Pacific Ltd (Class A)		1,632
	148,662		Wharf Holdings Ltd		733
	90,000		Wheelock & Co Ltd		266
	19,872		Wing Hang Bank Ltd		160
	58,089		Yue Yuen Industrial Holdings		150
			TOTAL HONG KONG		106,736
INDIA - 0.5%
	29,863		Bank of Baroda		462
	484,179		Bank of India		3,100
	35,020	*	Bharat Heavy Electricals Ltd		1,168
	283,922		Dabur India Ltd		594
	1,587,287	*	DEN Networks Ltd		2,256
	1,384,466		Dhanalakshmi Bank Ltd		2,067
	3,036,555		DLF Ltd		13,447
	199,312		Engineers India Ltd		998
	787,416		Geodesic Information Systems Ltd		814
	557,610	*	Hathway Cables and Datacom Pvt Ltd		981
	89,112	e	Infosys Technologies Ltd (ADR)		4,551
	400,070		ING Vysya Bank Ltd		2,432
	1,387,858		ITC Ltd		5,591
	40,000		Larsen & Toubro Ltd		1,102
	410,977		LIC Housing Finance Ltd		1,765
	200,000		Pantaloon Retail India Ltd		800
	439,806		Prestige Estates Projects Ltd		822
	760,625	f	Puravankara Projects Ltd (purchased 11/27/10, cost $2,194)		1,015
	60,361		Sobha Developers Ltd		266
	675,935		Sun Pharmaceuticals Industries Ltd		6,352
	339,989		Sun TV Network Ltd		1,610
	1,060,481		Sunteck Realty Ltd		6,712

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	87,014		Tata Consultancy Services Ltd	$	1,831
	7,945,868		Unitech Ltd		4,216
	6,781	e	Vedanta Resources plc		115
			TOTAL INDIA		65,067
INDONESIA - 0.3%
	12,045,000		Bank Rakyat Indonesia		7,887
	816,563		PT Astra International Tbk		5,837
	12,000,000		PT Bank Negara Indonesia		5,014
	5,001,000		PT Harum Energy Indonesia Tbk		3,987
	5,500,000		PT Indofood Sukses Makmur Tbk		3,126
	5,933,300		PT Tambang Batubara Bukit Asam Tbk		11,211
			TOTAL INDONESIA		37,062
IRELAND - 0.6%
	280,503		Accenture plc		14,777
	147,992	*,m	Anglo Irish Bank Corp plc		0	^
	66,737		CRH plc		1,031
	8,463	e	CRH plc (Ireland)		132
	49,515	*	Elan Corp plc		525
	1,700	*	Elan Corp plc (ADR)		18
	54,439	*,e	James Hardie Industries NV		298
	17,171		Kerry Group plc (Class A)		603
	452	*	Kerry Group PLC A		16
	30,905		Ryanair Holdings plc		137
	2,290,690	*	Smurfit Kappa Group plc		13,686
	3,287,216		WPP plc		30,449
	414,477		XL Capital Ltd		7,792
			TOTAL IRELAND		69,464
ISRAEL - 0.1%
	59,346		Bank Hapoalim Ltd		205
	66,665		Bank Leumi Le-Israel		204
	99,116		Bezeq Israeli Telecommunication Corp Ltd		185
	3,070		Cellcom Israel Ltd		63
	70,000	*,e	Check Point Software Technologies		3,693
	297		Delek Group Ltd		45
	1,340		Elbit Systems Ltd		52
	25,119		Israel Chemicals Ltd		286
	140		Israel Corp Ltd		90
	48,116	*	Israel Discount Bank Ltd		71
	13,664	*	Makhteshim-Agan Industries Ltd		75
	7,799		Mizrahi Tefahot Bank Ltd		64
	3,443	*	Nice Systems Ltd		104
	4,862		Partner Communications		46
	52,981		Teva Pharmaceutical Industries Ltd		1,963
	271,400		Teva Pharmaceutical Industries Ltd (ADR)		10,102
			TOTAL ISRAEL		17,248
ITALY - 0.9%
	1,694,068	e	A2A S.p.A.		2,107
	228,506		ACEA S.p.A.		1,831

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	124,910		Assicurazioni Generali S.p.A.	$	1,978
	11,239		Autogrill S.p.A.		113
	31,683		Autostrade S.p.A.		456
	66,456	e	Banca Carige S.p.A.		129
	1,963,612		Banca Intesa S.p.A.		3,079
	96,435		Banca Intesa S.p.A. RSP		124
	327,600		Banca Monte dei Paschi di Siena S.p.A.		182
	72,766		Banche Popolari Unite Scpa		269
	133,414	e	Banco Popolare Scarl		221
	804		Beni Stabili S.p.A. (Paris)		0	^
	1,018,777		De’Longhi S.p.A.		9,172
	102,385		Enel Green Power S.p.A		233
	1,216,794		Enel S.p.A.		5,371
	417,597	e	ENI S.p.A.		7,347
	6,999		Exor S.p.A.		137
	81,499	*	FIAT Industrial S.p.A.		609
	81,493	e	Fiat S.p.A.		440
	51,455		Finmeccanica S.p.A.		356
	1,033,209	e	Lottomatica S.p.A.		16,143
	12,397	e	Luxottica Group S.p.A.		315
	73,198		Mediaset S.p.A.		231
	53,027		Mediobanca S.p.A.		416
	101,543		Parmalat S.p.A.		214
	555,900	e	Pirelli & C S.p.A.		3,954
	16,646	e	Prysmian S.p.A.		219
	1,276,612		Saipem S.p.A.		44,806
	222,078		Snam Rete Gas S.p.A.		1,025
	360,202		Telecom Italia RSP		350
	832,831		Telecom Italia S.p.A.		905
	558,259		Terna Rete Elettrica Nazionale S.p.A.		2,070
	1,515,018		UniCredito Italiano S.p.A.		1,606
	598,599	*	Yoox S.p.A		7,675
			TOTAL ITALY		114,083
JAPAN - 8.2%
	36,000		77 Bank Ltd		164
	1,600	e	ABC-Mart, Inc		62
	4,924	*	Advance Residence Investment Corp		8,919
	18,742	e	Advantest Corp		202
	197,409	e	Aeon Co Ltd		2,670
	7,803		Aeon Credit Service Co Ltd		120
	7,800		Aeon Mall Co Ltd		178
	8,000	e	Air Water, Inc		99
	98,542		Aisin Seiki Co Ltd		3,281
	187,529	e	Ajinomoto Co, Inc		2,215
	5,757	e	Alfresa Holdings Corp		241
	45,435	e	All Nippon Airways Co Ltd		142
	309,744		Amada Co Ltd		2,037
	5,992,848	e	Aozora Bank Ltd		13,798
	51,607		Asahi Breweries Ltd		1,094
	227,773		Asahi Glass Co Ltd		2,224
	404,834		Asahi Kasei Corp		2,426

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	238,200		Asics Corp	$	3,252
	113,341	e	Astellas Pharma, Inc		4,278
	77,653	e	Bank of Kyoto Ltd		691
	315,971		Bank of Yokohama Ltd		1,585
	21,453		Benesse Corp		950
	448,804		Bridgestone Corp		10,183
	74,000		Brother Industries Ltd		869
	358,997		Canon, Inc		16,300
	378,900	e	Capcom Co Ltd		9,444
	79,623	e	Casio Computer Co Ltd		504
	494		Central Japan Railway Co		4,311
	262,323	e	Chiba Bank Ltd		1,819
	224,000	e	Chiyoda Corp		2,184
	218,166	e	Chubu Electric Power Co, Inc		4,086
	77,058		Chugai Pharmaceutical Co Ltd		1,305
	36,100	e	Chugoku Bank Ltd		532
	94,853	e	Chugoku Electric Power Co, Inc		1,668
	14,442		Citizen Watch Co Ltd		72
	6,271		Coca-Cola West Japan Co Ltd		120
	188,343		Cosmo Oil Co Ltd		466
	245,855		Credit Saison Co Ltd		4,740
	101,076	e	Dai Nippon Printing Co Ltd		1,045
	15,630		Daicel Chemical Industries Ltd		89
	53,698		Daido Steel Co Ltd		321
	78,290	*,e	Daihatsu Motor Co Ltd		1,421
	772		Dai-ichi Mutual Life Insurance Co		798
	141,897	e	Daiichi Sankyo Co Ltd		2,958
	23,846	e	Daikin Industries Ltd		683
	16,263	e	Dainippon Sumitomo Pharma Co Ltd		179
	73,711	e	Daito Trust Construction Co Ltd		6,757
	49,856		Daiwa House Industry Co Ltd		638
	90,300	*,e	Daiwa Securities Group, Inc		337
	27,000	e	Dena Co Ltd		1,131
	47,676		Denki Kagaku Kogyo KK		182
	182,845		Denso Corp		5,878
	17,655	e	Dentsu, Inc		559
	3,439	*,e	Digital Garage, Inc		9,926
	119,552		East Japan Railway Co		7,248
	45,117	e	Eisai Co Ltd		1,820
	15,239	e	Electric Power Development Co		450
	21,208	*,e	Elpida Memory, Inc		133
	6,144		FamilyMart Co Ltd		235
	73,043	*,e	Fanuc Ltd		10,061
	66,418	e	Fast Retailing Co Ltd		11,895
	35,900	e	FCC Co Ltd		747
	30,822	*,e	Fuji Electric Holdings Co Ltd		80
	302,884		Fuji Folms Holdings Corp		7,038
	87,342		Fuji Heavy Industries Ltd		513
	500		Fuji Television Network, Inc		719
	399,991		Fujitsu Ltd		1,886
	167,167		Fukuoka Financial Group, Inc		699
	199,805		Furukawa Electric Co Ltd		544

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	196,100	*	Gree, Inc	$	5,981
	37,110	e	GS Yuasa Corp		174
	75,879		Gunma Bank Ltd		423
	77,842	e	Hachijuni Bank Ltd		477
	2,455	e	Hakuhodo DY Holdings, Inc		142
	63,537	e	Hamamatsu Photonics KK		2,561
	194,182		Hino Motors Ltd		1,155
	2,987		Hirose Electric Co Ltd		278
	59,744	e	Hiroshima Bank Ltd		296
	22,900	e	Hisamitsu Pharmaceutical Co, Inc		1,100
	10,452		Hitachi Chemical Co Ltd		173
	5,922	e	Hitachi Construction Machinery Co Ltd		99
	295,900		Hitachi High-Technologies Corp		5,937
	200,000	*,e	Hitachi Kokusai Electric, Inc		1,285
	6,038,685	e	Hitachi Ltd		29,975
	215,000		Hitachi Medical Corp		2,360
	44,000	e	Hitachi Metals Ltd		507
	61,882	e	Hokkaido Electric Power Co, Inc		912
	150,446		Hokuhoku Financial Group, Inc		329
	61,075	e	Hokuriku Electric Power Co		1,127
	1,173,168	e	Honda Motor Co Ltd		34,369
	98,853	*	Hoya Corp		2,292
	39,266	*	Ibiden Co Ltd		830
	39,247	e	Idemitsu Kosan Co Ltd		3,516
	592		Inpex Holdings, Inc		3,636
	127,081	*	Isetan Mitsukoshi Holdings Ltd		1,286
	4,827,178		Ishikawajima-Harima Heavy Industries Co Ltd		10,642
	374,169		Isuzu Motors Ltd		1,607
	1,234,623	e	Itochu Corp		11,798
	12,162	e	Itochu Techno-Science Corp		547
	49,652		Iyo Bank Ltd		507
	266,989	e	J Front Retailing Co Ltd		1,267
	330,000	e	Japan Aviation Electronics Industry Ltd		2,214
	9,100		Japan Petroleum Exploration Co		331
	467	e	Japan Prime Realty Investment Corp		1,199
	148		Japan Real Estate Investment Corp		1,447
	151	*	Japan Retail Fund Investment Corp		243
	224,428	e	Japan Steel Works Ltd		1,339
	1,377	e	Japan Tobacco, Inc		6,441
	140,604		JFE Holdings, Inc		2,838
	236,978		JGC Corp		5,795
	121,624		Joyo Bank Ltd		566
	26,223		JS Group Corp		734
	18,353	e	JSR Corp		316
	245,203		JTEKT Corp		2,934
	175		Jupiter Telecommunications Co		189
	726,400		JX Holdings, Inc		4,077
	283,372	e	Kajima Corp		930
	56,000	e	Kakaku.com, Inc		2,299
	26,126		Kamigumi Co Ltd		233
	28,900	e	Kaneka Corp		163
	241,274		Kansai Electric Power Co, Inc		4,170

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	21,480	e	Kansai Paint Co Ltd	$	206
	202,853		Kao Corp		5,650
	808,212	e	Kawasaki Heavy Industries Ltd		2,061
	336,817	e	Kawasaki Kisen Kaisha Ltd		700
	949	e	KDDI Corp		6,533
	153,722	e	Keihin Electric Express Railway Co Ltd		1,419
	193,310	e	Keio Corp		1,383
	90,426		Keisei Electric Railway Co Ltd		613
	10,585		Keyence Corp		2,897
	44,795		Kikkoman Corp		512
	14,131		Kinden Corp		122
	368,914	e	Kintetsu Corp		1,391
	227,849		Kirin Brewery Co Ltd		2,980
	745,084	e	Kobe Steel Ltd		1,244
	5,000	*	Koito Manufacturing Co Ltd		79
	146,322	e	Komatsu Ltd		3,155
	5,073	e	Konami Corp		170
	48,113	e	Konica Minolta Holdings, Inc		330
	63,158	e	Kubota Corp		515
	48,387		Kuraray Co Ltd		660
	8,397		Kurita Water Industries Ltd		235
	65,012		Kyocera Corp		5,436
	77,486		Kyowa Hakko Kogyo Co Ltd		864
	128,184		Kyushu Electric Power Co, Inc		2,061
	59,751	e	Lawson, Inc		3,382
	2,616		Mabuchi Motor Co Ltd		121
	17,836	*	Makita Corp		635
	1,293,072		Marubeni Corp		7,220
	12,109	e	Marui Co Ltd		91
	4,396		Maruichi Steel Tube Ltd		104
	172,555	e	Matsushita Electric Industrial Co Ltd		1,668
	432,150	e	Mazda Motor Corp		874
	3,600	e	McDonald’s Holdings Co Japan Ltd		96
	14,812		Mediceo Paltac Holdings Co Ltd		150
	3,749		MEIJI Holdings Co Ltd		178
	199,464		Millea Holdings, Inc		5,055
	18,716		Minebea Co Ltd		63
	42,900		Miraca Holdings, Inc		1,886
	428,719	e	Mitsubishi Chemical Holdings Corp		2,907
	628,095		Mitsubishi Corp		12,788
	1,073,037		Mitsubishi Electric Corp		9,506
	373,705		Mitsubishi Estate Co Ltd		6,062
	38,160		Mitsubishi Gas Chemical Co, Inc		234
	855,150	e	Mitsubishi Heavy Industries Ltd		3,607
	11,262	e	Mitsubishi Logistics Corp		121
	972,293		Mitsubishi Materials Corp		2,368
	452,130	*,e	Mitsubishi Motors Corp		599
	4,901,254	e	Mitsubishi UFJ Financial Group, Inc		22,495
	5,870		Mitsubishi UFJ Lease & Finance Co Ltd		234
	1,120,204	e	Mitsui & Co Ltd		16,226
	272,087	e	Mitsui Chemicals, Inc		910
	37,875	e	Mitsui Engineering & Shipbuilding Co Ltd		64

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	411,137		Mitsui Fudosan Co Ltd	$	6,495
	115,499	e	Mitsui OSK Lines Ltd		445
	58,220		Mitsui Sumitomo Insurance Group Holdings, Inc		1,267
	1,672,749	e	Mitsui Trust Holdings, Inc		5,537
	6,096,398	e	Mizuho Financial Group, Inc		8,927
	5,000	e	Monex Beans Holdings, Inc		776
	21,120	e	Murata Manufacturing Co Ltd		1,147
	5,000	e	Nabtesco Corp		95
	131,106	e	Namco Bandai Holdings, Inc		1,776
	141,615	*	NEC Corp		288
	273		NET One Systems Co Ltd		718
	53,179		NGK Insulators Ltd		800
	14,988		NGK Spark Plug Co Ltd		204
	87,138		NHK Spring Co Ltd		770
	37,206	e	Nidec Corp		2,996
	78,281		Nikon Corp		1,847
	21,758		Nintendo Co Ltd		3,197
	151		Nippon Building Fund, Inc		1,563
	95,175		Nippon Electric Glass Co Ltd		865
	86,441	e	Nippon Express Co Ltd		369
	9,944		Nippon Meat Packers, Inc		129
	9,787	*,e	Nippon Paper Group, Inc		261
	76,507	e	Nippon Sheet Glass Co Ltd		171
	1,318,884		Nippon Steel Corp		3,783
	476,930		Nippon Telegraph & Telephone Corp		22,849
	862,408	e	Nippon Yusen Kabushiki Kaisha		2,339
	39,721		Nishi-Nippon City Bank Ltd		122
	793,443	e	Nissan Motor Co Ltd		7,020
	59,618	e	Nisshin Seifun Group, Inc		778
	70,321		Nisshin Steel Co Ltd		126
	10,135	e	Nissin Food Products Co Ltd		408
	20,273		Nitori Co Ltd		2,041
	30,237	e	Nitto Denko Corp		1,190
	37,709		NKSJ Holdings, Inc		837
	82,851	*,e	NOK Corp		1,499
	360,763	*	Nomura Holdings, Inc		1,316
	9,574		Nomura Real Estate Holdings, Inc		145
	91		Nomura Real Estate Office Fund, Inc		555
	12,210		Nomura Research Institute Ltd		279
	23,911		NSK Ltd		176
	3,091,948	e	NTN Corp		14,500
	325	e	NTT Data Corp		1,003
	4,974	e	NTT DoCoMo, Inc		9,063
	391	e	NTT Urban Development Corp		284
	207,259		Obayashi Corp		1,024
	206,398	e	Odakyu Electric Railway Co Ltd		1,962
	84,797	e	OJI Paper Co Ltd		465
	26,012	e	Olympus Corp		803
	70,102		Omron Corp		1,377
	78,698	e	Ono Pharmaceutical Co Ltd		4,695
	2,717	e	Oriental Land Co Ltd		290
	294,979	*,e	ORIX Corp		23,152

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	628,981	e	Osaka Gas Co Ltd	$	2,613
	1,687		Otsuka Corp		116
	133,600		Otsuka Holdings KK		3,660
	1,549,900		Park24 Co Ltd		19,263
	15,000		Point, Inc		758
	3,676	*,e	Rakuten, Inc		4,283
	186,130		Resona Holdings, Inc		888
	62,581	e	Ricoh Co Ltd		525
	124,299	e	Rinnai Corp		10,377
	19,824		Rohm Co Ltd		1,034
	2,980	e	Sankyo Co Ltd		161
	223,000	e	Sanrio Co Ltd		10,449
	10,556		Santen Pharmaceutical Co Ltd		444
	1,088	*	SBI Holdings, Inc		94
	54,434	e	Secom Co Ltd		2,625
	1,495,643	e	Sega Sammy Holdings, Inc		34,894
	7,183	e	Seiko Epson Corp		91
	663,951		Sekisui Chemical Co Ltd		5,582
	50,920		Sekisui House Ltd		477
	225,681		Seven & I Holdings Co Ltd		6,326
	30		Seven Bank Ltd		59
	108,106	*,e	Sharp Corp		908
	59,719	e	Shikoku Electric Power Co, Inc		1,642
	24,982	e	Shimadzu Corp		211
	1,197		Shimamura Co Ltd		125
	3,881		Shimano, Inc		205
	179,062	e	Shimizu Corp		786
	72,600		Shin-Etsu Chemical Co Ltd		3,561
	1,622,649		Shinsei Bank Ltd		1,824
	62,173	e	Shionogi & Co Ltd		920
	19,485	e	Shiseido Co Ltd		378
	170,301	e	Shizuoka Bank Ltd		1,784
	147,654		Showa Denko KK		291
	19,073		Showa Shell Sekiyu KK		136
	136,000	*	Skymark Airlines, Inc		2,167
	9,588	e	SMC Corp		1,401
	338,660		Softbank Corp		9,909
	125,836		Sojitz Holdings Corp		230
	237,902	*,e	Sony Corp		4,554
	21,100	e	Sony Financial Holdings, Inc		322
	73,499	e	Square Enix Co Ltd		1,323
	17,335		Stanley Electric Co Ltd		262
	572,600		Start Today Co Ltd		12,407
	11,876	*,e	Sumco Corp		111
	171,000	e	Sumitomo Bakelite Co Ltd		912
	156,883	e	Sumitomo Chemical Co Ltd		605
	369,963	e	Sumitomo Corp		4,578
	168,676		Sumitomo Electric Industries Ltd		1,981
	56,625		Sumitomo Heavy Industries Ltd		290
	1,886,400		Sumitomo Metal Industries Ltd		3,910
	145,464		Sumitomo Metal Mining Co Ltd		1,926
	822,079	e	Sumitomo Mitsui Financial Group, Inc		23,163

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	878,256		Sumitomo Realty & Development Co Ltd	$	16,882
	417,263		Sumitomo Rubber Industries, Inc		5,335
	457,654	e	Suruga Bank Ltd		4,459
	6,987	e	Suzuken Co Ltd		188
	46,022		Suzuki Motor Corp		1,014
	64,000		Sysmex Corp		2,303
	53,262		T&D Holdings, Inc		502
	300,943	e	Taisei Corp		828
	192,411	e,m	Taisho Pharmaceutical Co Ltd		4,769
	26,357	e	Taiyo Nippon Sanso Corp		184
	97,718	e	Takashimaya Co Ltd		713
	295,448	e	Takeda Pharmaceutical Co Ltd		14,013
	305,900	e	Tamron Co Ltd		9,612
	122,081		Tanabe Seiyaku Co Ltd		2,270
	12,227	e	TDK Corp		427
	5,564,613		Teijin Ltd		20,005
	48,476	e	Terumo Corp		2,523
	39,276		THK Co Ltd		654
	279,878	e	Tobu Railway Co Ltd		1,318
	11,775	e	Toho Co Ltd		206
	160,000	e	Toho Gas Co Ltd		1,050
	143,615	e	Tohoku Electric Power Co, Inc		1,990
	449,760	*,e	Tokyo Electric Power Co, Inc		1,360
	53,410		Tokyo Electron Ltd		2,423
	1,316,624		Tokyo Gas Co Ltd		6,115
	272,000		Tokyo Tatemono Co Ltd		828
	347,852		Tokyu Corp		1,748
	44,414		Tokyu Land Corp		160
	83,427		Toppan Printing Co Ltd		608
	537,764	e	Toray Industries, Inc		3,766
	2,700	e	Tosei Corp		732
	947,481	e	Toshiba Corp		3,865
	951,647	e	Tosoh Corp		2,982
	28,681	e	Toto Ltd		253
	15,239		Toyo Seikan Kaisha Ltd		231
	36,099		Toyo Suisan Kaisha Ltd		990
	15,497	e	Toyoda Gosei Co Ltd		295
	6,700	e	Toyota Boshoku Corp		96
	208,861		Toyota Industries Corp		6,091
	898,248	*	Toyota Motor Corp		30,792
	21,494		Toyota Tsusho Corp		368
	5,728	*	Trend Micro, Inc		179
	57,274	e	Tsumura & Co		1,826
	307,932		UBE Industries Ltd		1,023
	205,051	e	Uni-Charm Corp		9,835
	835,300	e	United Arrows Ltd		15,869
	1,000		United Urban Investment Corp		1,047
	191,184		Ushio, Inc		2,911
	1,203		USS Co Ltd		102
	35,300	e	West Japan Railway Co		1,513
	4,751	e	Yahoo! Japan Corp		1,476
	25,077	e	Yakult Honsha Co Ltd		782

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	4,469	e	Yamada Denki Co Ltd	$	311
	44,666		Yamaguchi Financial Group, Inc		451
	8,688		Yamaha Corp		94
	42,983	*,e	Yamaha Motor Co Ltd		567
	4,500	e	Yamato Kogyo Co Ltd		118
	40,055	e	Yamato Transport Co Ltd		730
	11,553		Yamazaki Baking Co Ltd		175
	22,384	e	Yaskawa Electric Corp		169
	22,510	*,e	Yokogawa Electric Corp		213
	189,000	e	Zeon Corp		1,737
			TOTAL JAPAN		1,021,448
JERSEY, C.I. - 0.1%
	64,660		Randgold Resources Ltd		6,281
			TOTAL JERSEY, C.I.		6,281
KAZAKHSTAN - 0.0%
	14,590		Eurasian Natural Resources Corp		129
			TOTAL KAZAKHSTAN		129
KOREA, REPUBLIC OF - 0.6%
	100,000		Daewoo Shipbuilding & Marine Engineering Co Ltd		1,874
	110,000		Dongbu Insurance Co Ltd		4,742
	91,607	*	Duksan Hi-Metal Co Ltd		2,069
	232,960		Hanwha Chemical Corp		4,965
	21,276		Hyundai Mobis		6,026
	58,797		Hyundai Motor Co		10,279
	27,000		Hyundai Steel Co		1,965
	110,000		Kangwon Land, Inc		2,517
	245,631		KB Financial Group, Inc		8,116
	120,780		Kia Motors Corp		7,202
	10,838		LG Chem Ltd		2,873
	5,695		LG Household & Health Care Ltd		2,560
	40,000		LS Cable Ltd		2,465
	2,915		Samsung Electronics Co Ltd		2,035
	23,472		Samsung Engineering Co Ltd		4,532
	120,000		Samsung Heavy Industries Co Ltd		2,747
	122,310		Shinhan Financial Group Co Ltd		4,265
	150,695		Silicon Works Co Ltd		2,648
			TOTAL KOREA, REPUBLIC OF		73,880
LUXEMBOURG - 0.1%
	91,650		ArcelorMittal		1,464
	2,560,750	*	L’ Occitane International S.A.		5,158
	9,649	e	Millicom International Cellular S.A.		962
	37,207		SES Global S.A.		905
	50,411		Tenaris S.A.		635
			TOTAL LUXEMBOURG		9,124
MACAU - 0.3%
	14,334,900	*	Sands China Ltd		33,539
	121,200		Wynn Macau Ltd		287
			TOTAL MACAU		33,826

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
MALAYSIA - 0.1%
	3,680,000		AirAsia BHD	$	3,450
	1,300,000		Bumiputra-Commerce Holdings BHD		2,817
	1,151,800		Public Bank BHD		4,384
	30,659		YNH Property BHD		16
			TOTAL MALAYSIA		10,667
MEXICO - 0.2%
	200,000	e	Alfa S.A. de C.V. (Class A)		2,084
	75,920	e	America Movil S.A. de C.V. (ADR) (Series L)		1,676
	63,000	*,e	Fomento Economico Mexicano SAB de C.V. (ADR)		4,084
	622,837		Fresnillo plc		15,227
			TOTAL MEXICO		23,071
NETHERLANDS - 1.8%
	204,722	*	Aegon NV		830
	24,822		Akzo Nobel NV		1,095
	46,187		ASML Holding NV		1,597
	6,596		Boskalis Westminster		203
	200,000		Chicago Bridge & Iron Co NV		5,726
	50,000	*	CNH Global NV		1,312
	7,093		Corio NV		327
	5,918		Delta Lloyd NV		93
	9,213		DSM NV		401
	494,171		European Aeronautic Defence and Space Co		13,891
	8,409		Fugro NV		424
	14,190		Heineken Holding NV		548
	32,852		Heineken NV		1,476
	11,877,503	*	ING Groep NV		83,783
	125,776		Koninklijke Ahold NV		1,479
	107,093		Koninklijke Philips Electronics NV		1,921
	4,196		Koninklijke Vopak NV		201
	154,103		LyondellBasell Industries AF S.C.A		3,765
	28,910	*	Qiagen N.V.		402
	11,914		Randstad Holdings NV		380
	75,131		Reed Elsevier NV		826
	1,518,572		Royal Dutch Shell plc (A Shares)		46,919
	614,106		Royal Dutch Shell plc (B Shares)		19,108
	1,085,415		Royal KPN NV		14,296
	20,304		SBM Offshore NV		352
	45,804		TNT Express NV		320
	45,413		TNT NV		199
	420,469		Unilever NV		13,309
	164,478		Unilever NV (ADR)		5,179
	30,840		Wolters Kluwer NV		500
			TOTAL NETHERLANDS		220,862

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
NEW ZEALAND - 0.0%
	114,408		Auckland International Airport Ltd	$	199
	43,598	*,e	Contact Energy Ltd		180
	80,866	e	Fletcher Building Ltd		473
	72,322		Sky City Entertainment Group Ltd		183
	271,011		Telecom Corp of New Zealand Ltd		539
			TOTAL NEW ZEALAND		1,574
NORWAY - 0.1%
	9,945		Aker Kvaerner ASA		95
	351,740		DNB NOR Holding ASA		3,506
	74,763	e	Frontline Ltd		363
	11,195		Gjensidige Forsikring BA		116
	97,072		Norsk Hydro ASA		440
	82,500		Orkla ASA		627
	67,680	*,e	Renewable Energy Corp AS		59
	37,831	e	SeaDrill Ltd		1,045
	119,491		Statoil ASA		2,564
	84,644		Telenor ASA		1,305
	20,373		Yara International ASA		777
			TOTAL NORWAY		10,897
PHILIPPINES - 0.1%
	7,000,000		Aboitiz Power Corp		4,526
	10,195,901	m	Ayala Land, Inc (Preference)		23
	3,771,610		Metropolitan Bank & Trust		5,637
	1,200,000		San Miguel Corp		3,167
			TOTAL PHILIPPINES		13,353
POLAND - 0.0%
	120,789		KGHM Polska Miedz S.A.		4,730
			TOTAL POLAND		4,730
PORTUGAL - 0.3%
	317,940	e	Banco Comercial Portugues S.A.		82
	55,039	e	Banco Espirito Santo S.A.		146
	6,052		Brisa-Auto Estradas de Portugal S.A.		21
	23,082	e	Cimpor Cimentos de Portugal S.A.		154
	18,553	*	EDP Renovaveis S.A.		101
	549,980		Energias de Portugal S.A.		1,694
	21,184		Galp Energia SGPS S.A.		387
	2,029,379		Jeronimo Martins SGPS S.A.		31,691
	78,119		Portugal Telecom SGPS S.A.		574
			TOTAL PORTUGAL		34,850
RUSSIA - 0.1%
	315,187	*,f	Pharmstandard (GDR) (purchased 10/08/10, cost $7,395)		6,023
	225,000		Sberbank of Russian Federation (ADR)		2,000
			TOTAL RUSSIA		8,023
SINGAPORE - 0.5%
	205,473		Ascendas Real Estate Investment Trust		317
	850,082		CapitaLand Ltd		1,586

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	677,974	e	CapitaMall Trust	$	940
	105,000		CapitaMalls Asia Ltd		97
	162,868	e	City Developments Ltd		1,181
	148,028		ComfortDelgro Corp Ltd		147
	78,584	e	Cosco Corp Singapore Ltd		55
	960,025		DBS Group Holdings Ltd		8,609
	164,671	*,e	Flextronics International Ltd		927
	72,103	e	Fraser and Neave Ltd		317
	475,384	*,e	Genting International plc		552
	140,000	*	Global Logistic Properties		176
	521,497		Golden Agri-Resources Ltd		241
	514,000		Hotel Properties Ltd		796
	255,945	e	Jardine Cycle & Carriage Ltd		8,133
	1,184,326	e	Keppel Corp Ltd		6,945
	2,315,000	e	Keppel Land Ltd		4,522
	23,000		K-Green Trust		16
	70,465	e	Neptune Orient Lines Ltd		58
	1,231,318	e	Olam International Ltd		2,098
	361,614	e	Oversea-Chinese Banking Corp		2,229
	795,811		SembCorp Industries Ltd		2,054
	640,857	e	SembCorp Marine Ltd		1,569
	134,492	e	Singapore Airlines Ltd		1,164
	4,152		Singapore Airport Terminal Services Ltd		7
	255,560	e	Singapore Exchange Ltd		1,285
	482,963	e	Singapore Press Holdings Ltd		1,381
	653,896	e	Singapore Technologies Engineering Ltd		1,392
	2,461,704	e	Singapore Telecommunications Ltd		5,934
	46,274		StarHub Ltd		101
	178,741	e	United Overseas Bank Ltd		2,298
	1,057,965	e	United Overseas Land Ltd		3,334
	170,000	e	Wilmar International Ltd		676
	146,000		Yangzijiang Shipbuilding		98
			TOTAL SINGAPORE		61,235
SOUTH AFRICA - 0.2%
	800,000		Clicks Group Ltd		3,708
	102,071	e	Kumba Iron Ore Ltd		5,359
	570,000		Mr Price Group Ltd		4,724
	110,000		Sasol Ltd		4,511
	200,000		Woolworths Holdings Ltd		864
			TOTAL SOUTH AFRICA		19,166
SPAIN - 0.6%
	36,463		Abertis Infraestructuras S.A.		561
	3,102		Acciona S.A.		262
	12,227	e	Acerinox S.A.		137
	26,021	e	ACS Actividades Cons y Servicios S.A.		917
	871,108		Amadeus IT Holding S.A.		13,918
	517,865		Banco Bilbao Vizcaya Argentaria S.A.		4,288
	108,356	e	Banco de Sabadell S.A.		387
	98,338	e	Banco Popular Espanol S.A.		454
	1,697,458		Banco Santander Central Hispano S.A.		13,878

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	51,556	*	Bankia SAU	$	253
	32,972	e	Bankinter S.A.		179
	426,631	e	Bolsas y Mercados Espanoles		11,428
	48,891		Cintra Concesiones de Infraestructuras de Transporte S.A.		557
	91,994	e	Corp Mapfre S.A.		284
	102,720		Criteria Caixacorp S.A.		450
	1,234,276	*	Distribuidora Internacional de Alimentacion S.A.		4,915
	14,232		Enagas		262
	4,577	e	Fomento de Construcciones y Contratas S.A.		113
	23,218		Gas Natural SDG S.A.		395
	14,850	e	Gestevision Telecinco S.A.		84
	17,489	e	Grifols S.A.		326
	438,170		Iberdrola S.A.		2,962
	102,192		Inditex S.A.		8,724
	11,048	e	Indra Sistemas S.A.		159
	8,618	e	Red Electrica de Espana		393
	81,345		Repsol YPF S.A.		2,147
	538,203		Telefonica S.A.		10,315
	18,122		Zardoya Otis S.A.		230
			TOTAL SPAIN		78,978
SWEDEN - 0.8%
	43,488		Alfa Laval AB		685
	25,052		Assa Abloy AB (Class B)		515
	132,602	e	Atlas Copco AB (A Shares)		2,347
	49,233		Atlas Copco AB (B Shares)		771
	2,121,467	*	Biovitrum AB		5,024
	216,365	e	Boliden AB		2,225
	250,000		Castellum AB		3,046
	25,718	e	Electrolux AB (Series B)		378
	2,136,872		Ericsson (LM) (B Shares)		20,518
	21,342		Getinge AB (B Shares)		466
	865,704		Hennes & Mauritz AB (B Shares)		25,920
	14,859	e	Hexagon AB (B Shares)		193
	5,477		Holmen AB (B Shares)		136
	43,800		Husqvarna AB (B Shares)		177
	6,385		Industrivarden AB		67
	57,490	e	Investor AB (B Shares)		1,012
	140,000	e	JM AB		1,794
	12,372		Kinnevik Investment AB (Series B)		229
	2,915		Modern Times Group AB (B Shares)		117
	309,533		Nordea Bank AB		2,505
	10,906		Ratos AB (B Shares)		125
	543,102		Sandvik AB		6,258
	34,094		Scania AB (B Shares)		487
	39,393		Securitas AB (B Shares)		287
	185,469		Skandinaviska Enskilda Banken AB (Class A)		997
	50,181		Skanska AB (B Shares)		695
	171,073		SKF AB (B Shares)		3,223
	18,071	e	Ssab Svenskt Stal AB (Series A)		134
	145,393		Svedbergs i Dalstorp AB		697
	61,374		Svenska Cellulosa AB (B Shares)		747

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	92,593		Svenska Handelsbanken (A Shares)	$	2,356
	81,715		Swedbank AB (A Shares)		902
	173,761		Swedish Match AB		5,734
	39,269	e	Tele2 AB (B Shares)		711
	280,521		TeliaSonera AB		1,849
	330,000		Trelleborg AB (B Shares)		2,130
	133,495		Volvo AB (B Shares)		1,311
			TOTAL SWEDEN		96,768
SWITZERLAND - 3.2%
	185,005		ABB Ltd		3,165
	13,281		Actelion Ltd		441
	195,629		Adecco S.A.		7,710
	8,844		Aryzta AG.		384
	6,224		Baloise Holding AG.		456
	408,480		Compagnie Financiere Richemont S.A.		18,197
	830,405		Credit Suisse Group		21,724
	13,637	*,e	Foster Wheeler AG.		243
	9,931		Geberit AG.		1,834
	850		Givaudan S.A.		663
	49,453		Glencore International AG.		311
	26,200		Holcim Ltd		1,390
	550,058		Julius Baer Group Ltd		18,382
	16,314		Julius Baer Holding AG.		204
	12,732		Kuehne & Nagel International AG.		1,429
	94		Lindt & Spruengli AG.		273
	12		Lindt & Spruengli AG. (Reg)		415
	3,407	*,e	Logitech International S.A.		26
	36,745		Lonza Group AG.		2,214
	1,383,554		Nestle S.A.		76,169
	2,436		Nobel Biocare Holding AG.		24
	1,822,794		Novartis AG.		101,824
	160,744		Novartis AG. (ADR)		8,965
	2,784		Pargesa Holding S.A.		190
	6,014		Phonak Holding AG.		546
	9,000	*	Rieter Holding AG.		1,433
	267,488		Roche Holding AG.		43,203
	8,357		Schindler Holding AG.		886
	1,292		Schindler Holding AG. (Reg)		141
	1,105		SGS S.A.		1,679
	122		Sika AG.		216
	83,142		STMicroelectronics NV		543
	845		Straumann Holding AG.		132
	1,425		Sulzer AG.		146
	4,089		Swatch Group AG.		1,345
	2,898		Swatch Group AG. Reg		173
	3,831		Swiss Life Holding		420
	372,103		Swiss Re Ltd		17,456
	3,905		Swisscom AG.		1,589
	148,629		Syngenta AG.		38,625
	7,847	f	Synthes, Inc 144A (purchased 06/06/07, cost $987)		1,270
	19,032		Transocean Ltd		918

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,079,877	*	UBS AG. (Switzerland)	$	12,352
	18,560		Zurich Financial Services AG.		3,866
			TOTAL SWITZERLAND		393,572
TAIWAN - 0.3%
	1,000,000		Catcher Technology Co Ltd		5,725
	4,728,000		First Steamship Co Ltd		6,793
	167,728	*	Foxconn International Holdings Ltd		87
	280,350		High Tech Computer Corp		6,156
	1,412,540		Hon Hai Precision Industry Co, Ltd		3,148
	250,000		Largan Precision Co Ltd		5,773
	665,000		PC Home Online		3,880
	3,030,250	*	Shining Building Business Co Ltd		2,773
	2,000,000		Taiwan Cement Corp		2,121
	3,361,230		TSRC Corp		7,335
			TOTAL TAIWAN		43,791
THAILAND - 0.2%
	4,538,000		Bank of Ayudhya PCL - NVDR		2,896
	219,437		Banpu PCL		3,703
	4,227,800		Charoen Pokphand Foods PCL		3,613
	1,851,200		Charoen Pokphand Foods PCL (ADR)		1,582
	1,157,000		Kasikornbank PCL - NVDR		4,315
	6,300,000		Krung Thai Bank PCL		3,098
	859,368		PTT Chemical PCL		2,715
	333,000		PTT PCL		2,767
			TOTAL THAILAND		24,689
TURKEY - 0.1%
	500,000		Ford Otomotiv Sanayi AS		3,483
	200,000		Koza Altin Isletmeleri AS		2,380
	930,000		Tofas Turk Otomobil Fabrik		3,299
	1,600,000		Turk Sise ve Cam Fabrikalari AS		3,052
	1,025,936		Turk Telekomunikasyon AS		4,405
			TOTAL TURKEY		16,619
UKRAINE - 0.1%
	106,014	*	Kernel Holding S.A.		1,948
	569,454	*	MHP S.A (GDR)		6,958
			TOTAL UKRAINE		8,906
UNITED KINGDOM - 9.4%
	122,675		3i Group plc		357
	16,513	e	Acergy S.A.		314
	1,454,012	e	Admiral Group plc		28,523
	3,000,000	*	Afren plc		3,764
	1,201,435		Aggreko plc		30,233
	26,524		AMEC plc		335
	858,374		Anglo American plc (London)		29,538
	795,010		Antofagasta plc		11,352
	80,133		ARM Holdings plc		685

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	211,200	*	ASOS plc	$	4,976
	291,200		Associated British Foods plc		5,013
	450,854		AstraZeneca plc		20,009
	4,600		AstraZeneca plc (ADR)		204
	355,839	*	Autonomy Corp plc		14,079
	1,122,234	*	Avanti Communications Group plc		4,635
	562,461		Aveva Group plc		12,261
	298,977		Aviva plc		1,406
	21,507		Babcock International Group		219
	370,002		BAE Systems plc		1,528
	86,463		Balfour Beatty plc		342
	3,787,332		Barclays plc		9,288
	3,653,727		BG Group plc		69,926
	469,394		BHP Billiton plc		12,539
	2,943,100	*	Blinkx plc		6,733
	4,617,964		BP plc		27,688
	10,400		BP plc (ADR)		375
	1,179,539		British American Tobacco plc		49,806
	132,707		British Land Co plc		978
	68,089		British Sky Broadcasting plc		701
	8,343,810		BT Group plc		22,364
	325,888		Bunzl plc		3,883
	514,281		Burberry Group plc		9,339
	50,374		Cable & Wireless plc		29
	50,365		Cable & Wireless Worldwide		24
	467,403	*	Cairn Energy plc		2,027
	112,623		Capita Group plc		1,234
	4,320		Capital & Counties Properties		11
	800,000		Carillion plc		4,136
	10,813		Carnival plc		337
	6,162,405		Centrica plc		28,406
	91,039		Cobham plc		246
	289,718		Compass Group plc		2,337
	601,900		Croda International plc		15,354
	1,504,729		Diageo plc		28,690
	6,898		Drax Group plc		51
	3,238	*	Enquest plc		5
	235,604		Ensco International plc (ADR)		9,525
	19,265	*	Essar Energy plc		75
	350,884		Experian Group Ltd		3,939
	1,214		F&C Asset Management plc		1
	9,424		Firstgroup plc		47
	92,345		GKN plc		251
	2,027,919		GlaxoSmithKline plc		41,846
	189,580		Greggs plc		1,357
	168,452		Group 4 Securicor plc		697
	76,042		Hammerson plc		445
	1,854,000		Homeserve plc		13,216
	6,662,823		HSBC Holdings plc		51,032
	68,739		ICAP plc		438
	2,353,905	*	Imagination Technologies Group plc		15,211
	240,000		IMI plc		2,634

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,055,873		Imperial Tobacco Group plc	$	35,633
	27,377		Inmarsat plc		208
	670,755		Intercontinental Hotels Group plc		10,877
	76,270	*	International Consolidated Airlines		180
	263,405	e	International Power plc		1,250
	9,431		Intertek Group plc		271
	260,356		Invensys plc		907
	55,096		Investec plc		298
	220,643	*	ITV plc		202
	128,529		J Sainsbury plc		547
	12,837		Johnson Matthey plc		315
	12,811		Kazakhmys plc		156
	141,309		Kingfisher plc		543
	96,547		Land Securities Group plc		960
	11,527,301		Legal & General Group plc		17,216
	64,792		Liberty International plc		329
	3,461,808	*	Lloyds TSB Group plc		1,858
	240,261	e	London Stock Exchange Group plc		3,023
	9,629		Lonmin plc		156
	226,265		Man Group plc		585
	94,747		Marks & Spencer Group plc		461
	1,589,007		Meggitt plc		8,227
	540,000		Mondi plc		3,947
	8,407,850	*	Monitise plc		4,523
	490,148		National Grid plc		4,858
	8,024,222		New Carphone Warehouse plc		42,145
	309,566		New World Resources plc (A Shares)		2,218
	339,815		Next plc		13,322
	683,250		Old Mutual plc		1,109
	1,646,224		Pearson plc		29,039
	25,192		Petrofac Ltd		466
	2,613,357		Prudential plc		22,444
	653,584		Reckitt Benckiser Group plc		33,116
	72,691		Reed Elsevier plc		557
	92,898		Resolution Ltd		356
	93,730		Rexam plc		451
	1,296,540		Rio Tinto plc		57,499
	72,500	e	Rio Tinto plc (ADR)		3,196
	764,159	*	Rockhopper Exploration plc		2,300
	1,528,991		Rolls-Royce Group plc		14,056
	436,608		Royal & Sun Alliance Insurance Group plc		751
	1,845,536	*	Royal Bank of Scotland Group plc		660
	76,908		SABMiller plc		2,509
	166,645		Sage Group plc		661
	12,147		Schroders plc		241
	172,529		Scottish & Southern Energy plc		3,462
	92,175		Segro plc		314
	79,821	e	Serco Group plc		631
	52,156		Severn Trent plc		1,246
	161,819		Smith & Nephew plc		1,456
	889,985		Smiths Group plc		13,735
	180,000		Spectris plc		3,258

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,185,537		Standard Chartered plc	$	23,653
	286,057		Standard Life plc		885
	2,350,388		Tesco plc		13,768
	57,255		TUI Travel plc		132
	3,142,567		Tullow Oil plc		63,556
	467,310		Unilever plc		14,638
	3,453,598	*	Unitech Corporate Parks plc		1,353
	86,075		United Utilities Group plc		833
	272,455	e	Virgin Media, Inc		6,634
	18,275,522		Vodafone Group plc		47,101
	17,100		Vodafone Group plc (ADR)		439
	67,618		Weir Group plc		1,616
	22,012		Whitbread plc		540
	900,000		William Hill plc		3,157
	231,559		WM Morrison Supermarkets plc		1,044
	415,634		Wolseley plc		10,313
	1,058,478		Xstrata plc		13,366
	2,309,012		Yule Catto & Co plc		5,766
			TOTAL UNITED KINGDOM		1,164,516
UNITED STATES - 51.9%
	98,841		3M Co		7,096
	97,500		A.O. Smith Corp		3,123
	389,550		Abbott Laboratories		19,922
	32,622		Abercrombie & Fitch Co (Class A)		2,008
	478,347		ACE Ltd		28,988
	30,000	*	Acme Packet, Inc		1,278
	69,393	e	Activision Blizzard, Inc		826
	237,575	*	Adobe Systems, Inc		5,742
	64,600		Advance Auto Parts, Inc		3,753
	19,949	*	Advanced Micro Devices, Inc		101
	46,360	*,e	Aeropostale, Inc		501
	55,395	*	AES Corp		541
	418,930		Aetna, Inc		15,227
	237,198		Aflac, Inc		8,290
	31,111	*	AGCO Corp		1,076
	133,421	*	Agilent Technologies, Inc		4,169
	25,260		Air Products & Chemicals, Inc		1,929
	10,127		Airgas, Inc		646
	23,500	*	Akamai Technologies, Inc		467
	35,066		Alcoa, Inc		336
	40,897	*	Alexion Pharmaceuticals, Inc		2,620
	3,237		Allegheny Technologies, Inc		120
	207,818		Allergan, Inc		17,120
	216,558	*,e	Alliance Data Systems Corp		20,075
	52,070		Alliant Energy Corp		2,014
	18,959		Alliant Techsystems, Inc		1,033
	22,380		Allied World Assurance Co Holdings Ltd		1,202
	138,672		Allstate Corp		3,285
	62,900	*	Alpha Natural Resources, Inc		1,113
	52,404		Altera Corp		1,652
	618,475		Altria Group, Inc		16,581

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	170,196	*	Amazon.com, Inc	$	36,800
	41,939		AMB Property Corp		1,017
	43,157		Ameren Corp		1,285
	3,748		American Eagle Outfitters, Inc		44
	45,520		American Electric Power Co, Inc		1,731
	105,251		American Express Co		4,726
	89,000		American Financial Group, Inc		2,765
	17,066	*	American International Group, Inc		375
	115,798	*	American Tower Corp (Class A)		6,230
	236,445		American Water Works Co, Inc		7,136
	18,000	*	Amerigroup Corp		702
	20,246		Ameriprise Financial, Inc		797
	411,828		AmerisourceBergen Corp		15,348
	39,439		Ametek, Inc		1,300
	489,157		Amgen, Inc		26,879
	33,024		Amphenol Corp (Class A)		1,346
	376,560		Anadarko Petroleum Corp		23,742
	189,732		Analog Devices, Inc		5,929
	434,146		Annaly Capital Management, Inc		7,220
	56,848		AON Corp		2,386
	298,724		Apache Corp		23,970
	6,255	e	Apartment Investment & Management Co (Class A)		138
	43,432	*	Apollo Group, Inc (Class A)		1,721
	810,470	*	Apple, Inc		308,936
	105,685		Applied Materials, Inc		1,094
	2,770		Aqua America, Inc		60
	216,943	*	Arch Capital Group Ltd		7,089
	6,585		Arch Coal, Inc		96
	60,936		Archer Daniels Midland Co		1,512
	137,476	*	Arrow Electronics, Inc		3,819
	110,000	*,e	Ascena Retail Group, Inc		2,978
	319,443		Ashland, Inc		14,100
	132,267		Assurant, Inc		4,735
	2,944,633		AT&T, Inc		83,982
	32,195	*	Autodesk, Inc		894
	115,051		Autoliv, Inc		5,580
	145,889		Automatic Data Processing, Inc		6,879
	33,533	*	Autozone, Inc		10,703
	479,568		Avago Technologies Ltd		15,715
	26,878	e	AvalonBay Communities, Inc		3,065
	3,332		Avery Dennison Corp		84
	8,250	*	Avnet, Inc		215
	44,211		Avon Products, Inc		867
	468,431		Axis Capital Holdings Ltd		12,151
	56,557	*	Babcock & Wilcox Co		1,106
	335,507		Baker Hughes, Inc		15,487
	65,907		Ball Corp		2,044
	1,297,468		Bank of America Corp		7,941
	62,296		Bank of New York Mellon Corp		1,158
	31,865		Bard (C.R.), Inc		2,789
	466,374		Baxter International, Inc		26,182
	118,168		BB&T Corp		2,521

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	47,551		Becton Dickinson & Co	$	3,486
	228,910	*	Bed Bath & Beyond, Inc		13,119
	76,808	*	Berkshire Hathaway, Inc (Class B)		5,456
	108,240	e	Best Buy Co, Inc		2,522
	53,925	*	Biogen Idec, Inc		5,023
	79,583		BlackRock, Inc		11,779
	546,174		Blackstone Group LP		6,543
	180,203	*	BMC Software, Inc		6,949
	484,545		Boeing Co		29,320
	51,806	*	BorgWarner, Inc		3,136
	131,008		Boston Properties, Inc		11,673
	158,500	*	Boston Scientific Corp		937
	25,000		Brinker International, Inc		523
	296,445		Bristol-Myers Squibb Co		9,302
	109,335		Broadcom Corp (Class A)		3,640
	80,413		Brookfield Office Properties, Inc (Toronto)		1,112
	13,043		Brown-Forman Corp (Class B)		915
	28,696		Bunge Ltd		1,673
	265,945		CA, Inc		5,162
	117,514		Cablevision Systems Corp (Class A)		1,848
	60,918		Cabot Oil & Gas Corp		3,771
	57,000	*	CACI International, Inc (Class A)		2,847
	121,770	*	Calpine Corp		1,715
	148,690	*	Cameron International Corp		6,177
	6,498		Campbell Soup Co		210
	254,300		Capital One Financial Corp		10,078
	180,645		Cardinal Health, Inc		7,565
	205,936	*	CareFusion Corp		4,932
	12,233	*	Carmax, Inc		292
	95,250		Carnival Corp		2,886
	213,187		Caterpillar, Inc		15,742
	19,762	*	CBRE Group, Inc		266
	729,800		CBS Corp (Class B)		14,873
	184,886		Celanese Corp (Series A)		6,014
	475,900	*	Celgene Corp		29,468
	1,610,337		Centerpoint Energy, Inc		31,594
	212,947		CenturyTel, Inc		7,053
	3,953	*,e	Cephalon, Inc		319
	81,559	*,e	Cerner Corp		5,588
	114,930		CF Industries Holdings, Inc		14,181
	164,692		CH Robinson Worldwide, Inc		11,277
	1,127	*	Charles River Laboratories International, Inc		32
	64,949		Charles Schwab Corp		732
	22,251		Chesapeake Energy Corp		569
	946,017		Chevron Corp		87,524
	204,000		Chico’s FAS, Inc		2,332
	1,900,000	e	Chimera Investment Corp		5,263
	983	*	Chipotle Mexican Grill, Inc (Class A)		298
	231,391		Chubb Corp		13,881
	304,982		Church & Dwight Co, Inc		13,480
	184,308		Cigna Corp		7,730
	4,541		Cimarex Energy Co		253

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	12,151		Cincinnati Financial Corp	$	320
	4,394		Cintas Corp		124
	3,285,354		Cisco Systems, Inc		50,889
	101,295	*	CIT Group, Inc		3,076
	1,575,226		Citigroup, Inc		40,357
	28,939	*	Citrix Systems, Inc		1,578
	60,000	*	Clean Harbors, Inc		3,078
	82,903		Cleveland-Cliffs, Inc		4,242
	39,075		Clorox Co		2,592
	16,049		CME Group, Inc		3,954
	133,977		Coach, Inc		6,944
	95,000	*	Cobalt International Energy, Inc		732
	1,220,576		Coca-Cola Co		82,463
	543,975		Coca-Cola Enterprises, Inc		13,534
	39,609	*	Cognizant Technology Solutions Corp (Class A)		2,483
	126,123		Colgate-Palmolive Co		11,185
	707,664		Comcast Corp (Class A)		14,790
	87,390	e	Comcast Corp (Special Class A)		1,808
	19,751		Comerica, Inc		454
	8,000		Compass Minerals International, Inc		534
	269,571		Computer Sciences Corp		7,238
	91,468		ConAgra Foods, Inc		2,215
	222,474	*	Concho Resources, Inc		15,827
	354,231		ConocoPhillips		22,430
	110,230		Consol Energy, Inc		3,740
	56,059		Consolidated Edison, Inc		3,196
	6,574	*	Constellation Brands, Inc (Class A)		118
	258,958		Constellation Energy Group, Inc		9,856
	249,455	e	Consumer Staples Select Sector SPDR Fund		7,409
	27,826	*,e	Continental Resources, Inc		1,346
	64,200		Cooper Cos, Inc		5,081
	124,313		Cooper Industries plc		5,733
	154,441		Corn Products International, Inc		6,060
	193,022		Corning, Inc		2,386
	233,429		Costco Wholesale Corp		19,169
	6,514	*	Covance, Inc		296
	130,396	*	Coventry Health Care, Inc		3,757
	114,482		Covidien plc		5,049
	3,550	*	Cree, Inc		92
	47,679	*	Crown Castle International Corp		1,939
	611,854	*	Crown Holdings, Inc		18,729
	249,860		Crude Carriers Corp		2,404
	435,340		CSX Corp		8,128
	136,356		Cummins, Inc		11,135
	953,845		CVS Corp		32,029
	368,877		Cytec Industries, Inc		12,962
	729,031	*	Dana Holding Corp		7,655
	534,712		Danaher Corp		22,426
	178,437		Darden Restaurants, Inc		7,628
	184,405	*	DaVita, Inc		11,557
	10,872	*	Deckers Outdoor Corp		1,014
	54,701		Deere & Co		3,532

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	739,479	*	Dell, Inc	$	10,464
	7,286	*	Delta Air Lines, Inc		55
	1,113,079	*	Denbury Resources, Inc		12,800
	45,271		Dentsply International, Inc		1,389
	32,925	*	Devon Energy Corp		1,825
	3,555		DeVry, Inc		131
	23,332	e	Diamond Offshore Drilling, Inc		1,277
	97,385	e	Dillard’s, Inc (Class A)		4,234
	546,252	*	DIRECTV		23,079
	679,333		Discover Financial Services		15,584
	352,066	*	Discovery Communications, Inc (Class A)		13,245
	8,293	*	Discovery Communications, Inc (Class C)		291
	620,102		DISH Network Corp (Class A)		15,540
	9,792	*	Dolby Laboratories, Inc (Class A)		269
	57,503	*	Dollar General Corp		2,171
	68,065	*	Dollar Tree, Inc		5,112
	91,192		Dominion Resources, Inc		4,630
	27,480		Domtar Corp		1,873
	41,113		Dover Corp		1,916
	1,180,266		Dow Chemical Co		26,510
	279,008		DR Horton, Inc		2,522
	157,601		Dr Pepper Snapple Group, Inc		6,112
	113,747	e	DSW, Inc (Class A)		5,253
	53,822		DTE Energy Co		2,638
	269,581		Du Pont (E.I.) de Nemours & Co		10,775
	117,574		Duke Energy Corp		2,350
	20,768		Duke Realty Corp		218
	2,687		Dun & Bradstreet Corp		165
	2,914	*,e	Dunkin Brands Group, Inc		81
	101,980	*	E*Trade Financial Corp		929
	112,199		East West Bancorp, Inc		1,673
	81,657		Eastman Chemical Co		5,596
	10,733		Eaton Corp		381
	6,003		Eaton Vance Corp		134
	454,231	*	eBay, Inc		13,394
	304,228	e	Ecolab, Inc		14,874
	10,585		Edison International		405
	327,982	*	Edwards Lifesciences Corp		23,379
	291,301		El Paso Corp		5,092
	51,571	*	Electronic Arts, Inc		1,055
	209,432		Eli Lilly & Co		7,743
	956,943	*	EMC Corp		20,086
	97,179		Emerson Electric Co		4,014
	110,295	*	Endo Pharmaceuticals Holdings, Inc		3,087
	30,000		Endurance Specialty Holdings Ltd		1,025
	3,519		Energen Corp		144
	167,852	*	Energizer Holdings, Inc		11,152
	3,050	*	EnerSys		61
	15,586	e	Entergy Corp		1,033
	81,229		EOG Resources, Inc		5,768
	6,540		Equifax, Inc		201
	42,357		Equitable Resources, Inc		2,260

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	111,057	e	Equity Residential	$	5,761
	10,000	e	Essex Property Trust, Inc		1,200
	39,967		Estee Lauder Cos (Class A)		3,511
	50,095		Everest Re Group Ltd		3,977
	936,121		Exelon Corp		39,887
	66,223		Expedia, Inc		1,705
	32,338		Expeditors International Washington, Inc		1,311
	391,980	*	Express Scripts, Inc		14,531
	1,895,836		Exxon Mobil Corp		137,694
	2,639	*	F5 Networks, Inc		188
	210,400	*	Fairchild Semiconductor International, Inc		2,272
	49,583	e	Family Dollar Stores, Inc		2,522
	38,321	e	Fastenal Co		1,275
	110,000	*	Federal Mogul Corp (Class A)		1,623
	17,989		Federal Realty Investment Trust		1,482
	19,203		FedEx Corp		1,300
	520,000	*	Ferro Corp		3,198
	18,897		Fidelity National Information Services, Inc		460
	114,970		Fidelity National Title Group, Inc (Class A)		1,745
	388,645		Fifth Third Bancorp		3,925
	725	*	First American Corp		8
	725		First American Financial Corp		9
	250,000		First Horizon National Corp		1,490
	2,780	*,e	First Solar, Inc		176
	119,780		FirstEnergy Corp		5,379
	16,220	*	Fiserv, Inc		823
	62,862		Flir Systems, Inc		1,575
	10,416		Flowserve Corp		771
	84,428		Fluor Corp		3,930
	3,803		FMC Corp		263
	204,393	*	FMC Technologies, Inc		7,685
	150,000		Foot Locker, Inc		3,014
	1,701,479	*	Ford Motor Co		16,454
	199,257	*	Forest Laboratories, Inc		6,135
	4,711		Fortune Brands, Inc		255
	27,879	*	Fossil, Inc		2,260
	66,512		Franklin Resources, Inc		6,361
	495,558		Freeport-McMoRan Copper & Gold, Inc (Class B)		15,090
	819,044	e	Frontier Communications Corp		5,004
	492	*,e	FTI Consulting, Inc		18
	43	*	Furiex Pharmaceuticals Inc		1
	314,441	*,e	GameStop Corp (Class A)		7,264
	34,886		Gap, Inc		567
	36,373	e	Garmin Ltd		1,156
	30,285		General Dynamics Corp		1,723
	3,596,593		General Electric Co		54,811
	14,207		General Growth Properties, Inc		172
	446,430		General Mills, Inc		17,174
	530,757	*	General Motors Co		0	^
	13,592,224	*,b	General Motors Co		0	^
	18,106,794	*,b,e	General Motors Co		0	^
	19,417,463	*,b	General Motors Co		0	^

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	26,439,985	*,b	General Motors Co	$	0	^
	4,461,000	*,b	General Motors Co		0	^
	18,159,000	*,b	General Motors Co		0	^
	206,214	*,e	General Motors Co		4,161
	61,921,000	*,b,e	General Motors Co		0	^
	69,850,000	*,b	General Motors Co		0	^
	29,845,445	*,b	General Motors Co		0	^
	24,397		Genuine Parts Co		1,239
	16,426	*	Genworth Financial, Inc (Class A)		94
	98,000	*	Georgia Gulf Corp		1,355
	1,344,855	*	Gilead Sciences, Inc		52,181
	292,504		Goldman Sachs Group, Inc		27,657
	128,902		Goodrich Corp		15,556
	32,980	*	Goodyear Tire & Rubber Co		333
	192,285	*	Google, Inc (Class A)		98,907
	67,213	*	Green Mountain Coffee Roasters, Inc		6,247
	200,000	*,e	GT Solar International, Inc		1,404
	129,207		H&R Block, Inc		1,720
	1		H.B. Fuller Co		0	^
	177,165		H.J. Heinz Co		8,943
	313,993		Halliburton Co		9,583
	53,423	*	Hansen Natural Corp		4,663
	7,900		Harley-Davidson, Inc		271
	45,426	e	Harris Corp		1,552
	21,375		Hartford Financial Services Group, Inc		345
	12,841		Hasbro, Inc		419
	5,193	*	HCA Holdings, Inc		105
	30,488		HCP, Inc		1,069
	8,076		Health Care REIT, Inc		378
	70,703	*	Health Net, Inc		1,676
	325,000	*	Healthsouth Corp		4,852
	42,001		Helmerich & Payne, Inc		1,705
	4,703	*	Henry Schein, Inc		292
	138,078		Herbalife Ltd		7,401
	78,334		Hershey Co		4,641
	38,900	*,e	Hertz Global Holdings, Inc		346
	76,018		Hess Corp		3,988
	1,645,222		Hewlett-Packard Co		36,935
	48,863		Holly Corp		1,281
	355,404	*	Hologic, Inc		5,406
	371,158		Home Depot, Inc		12,200
	1,050,238		Honeywell International, Inc		46,117
	83,668		Hormel Foods Corp		2,261
	249,835	*	Hospira, Inc		9,244
	208,468		Host Marriott Corp		2,281
	40,670		Hudson City Bancorp, Inc		230
	138,573	*	Human Genome Sciences, Inc		1,758
	154,126		Humana, Inc		11,210
	3,757,784		Huntington Bancshares, Inc		18,037
	2,511	*	Huntington Ingalls		61
	340,000		Huntsman Corp		3,288
	181,668	*	IAC/InterActiveCorp		7,185

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,279	*	IHS, Inc (Class A)	$	170
	126,019		Illinois Tool Works, Inc		5,242
	6,416	*,e	Illumina, Inc		263
	21,170		Ingersoll-Rand plc		595
	4,150	e	Integrys Energy Group, Inc		202
	1,924,254		Intel Corp		41,045
	232,425	*	IntercontinentalExchange, Inc		27,487
	520,011		International Business Machines Corp		91,017
	26,199		International Flavors & Fragrances, Inc		1,473
	31,975		International Game Technology		465
	56,157		International Paper Co		1,306
	739,973		Interpublic Group of Cos, Inc		5,328
	128,388	*	Intuit, Inc		6,091
	16,481	*	Intuitive Surgical, Inc		6,004
	43,620		Invesco Ltd		677
	6,010		Iron Mountain, Inc		190
	443,000	e	iShares MSCI Canada Index Fund		11,292
	1,975,000	e	iShares MSCI EAFE Index Fund		94,307
	1,792,078	e	iShares MSCI Japan Index Fund		16,953
	18,916	*,e	ITT Educational Services, Inc		1,089
	14,196		ITT Industries, Inc		596
	29,753		J.B. Hunt Transport Services, Inc		1,075
	30,677		J.M. Smucker Co		2,236
	58,507	*	Jacobs Engineering Group, Inc		1,889
	793,149		Jarden Corp		22,415
	5,751	e	JC Penney Co, Inc		154
	635,332	*	JDS Uniphase Corp		6,334
	7,010		Jefferies Group, Inc		87
	6,048		John Bean Technologies Corp		86
	522,917		Johnson & Johnson		33,315
	220,912		Johnson Controls, Inc		5,825
	157,877		Joy Global, Inc		9,848
	1,498,048		JPMorgan Chase & Co		45,122
	322,663	*	Juniper Networks, Inc		5,569
	93,177	*	Kansas City Southern Industries, Inc		4,655
	347,857		KBR, Inc		8,220
	52,945		Kellogg Co		2,816
	50,000		Kennametal, Inc		1,637
	200,991		Keycorp		1,192
	36,214		Kimberly-Clark Corp		2,572
	32,277	e	Kimco Realty Corp		485
	4,442	*	Kinder Morgan Management LLC		261
	62,675	e	Kinder Morgan, Inc		1,623
	8,388	*	Kinetic Concepts, Inc		553
	103,857		Kla-Tencor Corp		3,976
	61,302		Kohl’s Corp		3,010
	935,375		Kraft Foods, Inc (Class A)		31,410
	586,645		Kroger Co		12,883
	14,302		L-3 Communications Holdings, Inc		886
	5,438	*	Laboratory Corp of America Holdings		430
	149,721	*	Lam Research Corp		5,686
	175,402	*	Las Vegas Sands Corp		6,725

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	128,231		Lear Corp	$	5,501
	7,810		Legg Mason, Inc		201
	19,825		Leggett & Platt, Inc		392
	30,132		Lender Processing Services, Inc		413
	10,808		Leucadia National Corp		245
	16,722	*,e	Level 3 Communications, Inc		25
	111,880	*	Lexmark International, Inc (Class A)		3,024
	54,886	*	Liberty Global, Inc (Class A)		1,986
	6,740	*	Liberty Global, Inc (Series C)		233
	3	*	Liberty Media Corp-Liberty Starz		0	^
	194,108	*	Liberty Media Holding Corp (Interactive A)		2,867
	10,402	e	Liberty Property Trust		303
	195,540	*	Life Technologies Corp		7,515
	506,048		Limited Brands, Inc		19,488
	72,000		Lincoln National Corp		1,125
	74,599		Linear Technology Corp		2,063
	80,027		Lockheed Martin Corp		5,813
	28,132		Loews Corp		972
	321,610		Lorillard, Inc		35,602
	108,002		Lowe’s Cos, Inc		2,089
	33,663	*,e	LSI Logic Corp		174
	5,409		M&T Bank Corp		378
	34,988		Macerich Co		1,492
	704,861		Macy’s, Inc		18,552
	1	*	Madison Square Garden, Inc		0	^
	4,315		Manpower, Inc		145
	255,426		Marathon Oil Corp		5,512
	93,492	e	Marathon Petroleum Corp		2,530
	9,517		Marriott International, Inc (Class A)		259
	299,629		Marsh & McLennan Cos, Inc		7,952
	1,497	e	Martin Marietta Materials, Inc		95
	837,427	*,e	Marvell Technology Group Ltd		12,168
	1,117,216		Masco Corp		7,955
	60,028		Mastercard, Inc (Class A)		19,038
	77,111		Mattel, Inc		1,996
	174,083		Maxim Integrated Products, Inc		4,061
	57,949		McCormick & Co, Inc		2,675
	204,602	*	McDermott International, Inc		2,202
	333,608		McDonald’s Corp		29,297
	121,397		McGraw-Hill Cos, Inc		4,977
	64,015		McKesson Corp		4,654
	16,223		MDU Resources Group, Inc		311
	172,878		Mead Johnson Nutrition Co		11,899
	65,673		MeadWestvaco Corp		1,613
	82,892	*	Medco Health Solutions, Inc		3,887
	114,470		Medtronic, Inc		3,805
	4,319	*	MEMC Electronic Materials, Inc		23
	762,718		Merck & Co, Inc		24,949
	713,586		Metlife, Inc		19,988
	91,107	*	MetroPCS Communications, Inc		794
	3,869,479	*	MF Global Holdings Ltd		15,981
	10,811	*	MGM Mirage		100

231

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	10,022	e	Microchip Technology, Inc	$	312
	1,779,974	*	Micron Technology, Inc		8,971
	4,045,490		Microsoft Corp		100,693
	3,240	*	Mohawk Industries, Inc		139
	5,484		Molson Coors Brewing Co (Class B)		217
	311,710		Monsanto Co		18,715
	66,246		Moody’s Corp		2,017
	102,304		Morgan Stanley		1,381
	76,998		Mosaic Co		3,771
	118,214	*	Motorola Mobility Holdings, Inc		4,466
	50,949		Motorola, Inc		2,135
	25,106		Murphy Oil Corp		1,109
	589,671	*	Mylan Laboratories, Inc		10,024
	953	*	Myriad Genetics, Inc		18
	23,443	*	Nabors Industries Ltd		287
	43,091	*	Nasdaq Stock Market, Inc		997
	170,284		National Oilwell Varco, Inc		8,722
	200,000	*	NCR Corp		3,378
	151,606	*	NetApp, Inc		5,146
	1,660	*	NetFlix, Inc		188
	36,111	e	New York Community Bancorp, Inc		430
	9,614		Newell Rubbermaid, Inc		114
	7,032	*	Newfield Exploration Co		279
	16,376		Newmont Mining Corp		1,030
	60,865		News Corp (Class A)		942
	14,620	e	News Corp (Class B)		228
	58,249		NextEra Energy, Inc		3,147
	31,978	*	Nielsen Holdings NV		834
	309,874	*	NII Holdings, Inc (Class B)		8,351
	30,002		Nike, Inc (Class B)		2,565
	129,422		NiSource, Inc		2,767
	86,726		Noble Corp		2,545
	143,141		Noble Energy, Inc		10,134
	201,032		Nordstrom, Inc		9,183
	220,205		Norfolk Southern Corp		13,437
	56,869		Northeast Utilities		1,914
	16,651		Northern Trust Corp		582
	45,466		Northrop Grumman Corp		2,372
	146,700	*	Novellus Systems, Inc		3,999
	465,026	*	NRG Energy, Inc		9,864
	16,027		NSTAR		718
	283,751	e	Nu Skin Enterprises, Inc (Class A)		11,498
	338,758	*	Nuance Communications, Inc		6,897
	10,530		Nucor Corp		333
	30,399	*	Nvidia Corp		380
	18,106	*	NVR, Inc		10,937
	13,910		NYSE Euronext		323
	958,517		Occidental Petroleum Corp		68,533
	44,970		Old Republic International Corp		401
	6,404	e	Omnicare, Inc		163
	83,446		Omnicom Group, Inc		3,074
	940,000	*	ON Semiconductor Corp		6,740

232

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	36,607		Oneok, Inc	$	2,418
	3,171,064		Oracle Corp		91,137
	2,303		Oracle Corp Japan		81
	18,659	*,e	O’Reilly Automotive, Inc		1,243
	623,543	*	Orient-Express Hotels Ltd (Class A)		4,309
	10,457	*	Owens-Illinois, Inc		158
	512,529		Paccar, Inc		17,334
	45,115		Pall Corp		1,913
	10,000	*	Panera Bread Co (Class A)		1,039
	82,905		Parker Hannifin Corp		5,234
	170,809		PartnerRe Ltd		8,928
	9,627		Patterson Cos, Inc		276
	3,061		Patterson-UTI Energy, Inc		53
	50,993		Paychex, Inc		1,345
	45,098		Peabody Energy Corp		1,528
	75,000	*	Penn National Gaming, Inc		2,497
	10,884		Pentair, Inc		348
	73,127		People’s United Financial, Inc		834
	109,117		Pepco Holdings, Inc		2,064
	991,771		PepsiCo, Inc		61,391
	225,857		PerkinElmer, Inc		4,339
	85,427		Perrigo Co		8,296
	196,124		Petsmart, Inc		8,365
	5,931,172		Pfizer, Inc		104,863
	177,829		PG&E Corp		7,524
	5,742		Pharmaceutical Product Development, Inc		147
	1,216,670		Philip Morris International, Inc		75,897
	45,364		Pinnacle West Capital Corp		1,948
	11,934		Pioneer Natural Resources Co		785
	21,555	e	Pitney Bowes, Inc		405
	54,692	*	Plains Exploration & Production Co		1,242
	17,226	e	Plum Creek Timber Co, Inc		598
	273,647		PNC Financial Services Group, Inc		13,187
	130,000	*	Polycom, Inc		2,388
	94,740		PPG Industries, Inc		6,694
	212,300		PPL Corp		6,059
	44,689		Praxair, Inc		4,178
	160,690		Precision Castparts Corp		24,981
	23,672	*	Priceline.com, Inc		10,640
	113,457		Principal Financial Group		2,572
	719,818		Procter & Gamble Co		45,477
	104,302		Progress Energy, Inc		5,394
	33,678		Progressive Corp		598
	894,316		Prudential Financial, Inc		41,909
	150,000	*,e	PSS World Medical, Inc		2,954
	424,362		Public Service Enterprise Group, Inc		14,161
	37,723	e	Public Storage, Inc		4,200
	1,395,548	*,e	Pulte Homes, Inc		5,512
	983,480		Qualcomm, Inc		47,827
	11,157	*	Quanta Services, Inc		210
	8,444		Quest Diagnostics, Inc		417
	98,198		Questar Corp		1,739

233

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	14,505		Questar Market Resources, Inc	$	393
	10,753		R.R. Donnelley & Sons Co		152
	30,530	e	RadioShack Corp		355
	132,973	*	Ralcorp Holdings, Inc		10,200
	17,867		Ralph Lauren Corp		2,317
	12,987		Range Resources Corp		759
	9,513		Raven Industries, Inc		459
	72,418	e	Rayonier, Inc		2,664
	28,052		Raytheon Co		1,146
	84,797	*	Red Hat, Inc		3,584
	7,810		Regency Centers Corp		276
	64,115		Regions Financial Corp		214
	188,644		RenaissanceRe Holdings Ltd		12,035
	632,722		Republic Services, Inc		17,754
	164,912		Reynolds American, Inc		6,181
	4,753		Robert Half International, Inc		101
	2,243		Rock-Tenn Co (Class A)		109
	18,686		Rockwell Automation, Inc		1,046
	282,037		Rockwell Collins, Inc		14,880
	65,000	*	Rockwood Holdings, Inc		2,190
	120,262		Roper Industries, Inc		8,288
	160,672	e	Ross Stores, Inc		12,643
	191,882	*	Rowan Cos, Inc		5,793
	23,317		Royal Caribbean Cruises Ltd		505
	105,634	*	RRI Energy, Inc		294
	12,069		Safeway, Inc		201
	63,331	*	SAIC, Inc		748
	4,160	*	Salesforce.com, Inc		475
	360,031	*	SanDisk Corp		14,527
	108,381		Sara Lee Corp		1,772
	10,726	*	SBA Communications Corp (Class A)		370
	11,659	e	SCANA Corp		472
	782,245		Schlumberger Ltd		46,723
	353,947		Scripps Networks Interactive (Class A)		13,156
	12,880		SEACOR Holdings, Inc		1,033
	193,076		Seagate Technology, Inc		1,985
	5,318		Sealed Air Corp		89
	1,466	*,e	Sears Holdings Corp		84
	7,706		SEI Investments Co		119
	247,953		Sempra Energy		12,770
	101,074	*,e	Sensata Technologies Holding BV		2,674
	30,184		Sherwin-Williams Co		2,243
	1,582,425		Shire Ltd		49,347
	125,398		Shire plc (ADR)		11,779
	22,277		Sigma-Aldrich Corp		1,376
	228,553		Simon Property Group, Inc		25,137
	124,142	*,e	Sirius XM Radio, Inc		187
	100,000	*	Skyworks Solutions, Inc		1,794
	33,900	e	SL Green Realty Corp		1,971
	74,633		SLM Corp		929
	435,000	*	Smithfield Foods, Inc		8,483
	57,262		Sotheby’s (Class A)		1,579

234

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	471,557		Southern Co	$	19,980
	6,931		Southwest Airlines Co		56
	100,797	*	Southwestern Energy Co		3,360
	2,579,000	e	SPDR Trust Series 1		291,866
	65,592		Spectra Energy Corp		1,609
	95,000	*	Spirit Aerosystems Holdings, Inc (Class A)		1,515
	844,128	*	Sprint Nextel Corp		2,566
	1,688		SPX Corp		76
	80,929		St. Jude Medical, Inc		2,929
	5,230		Stanley Works		257
	771,299		Staples, Inc		10,258
	372,345		Starbucks Corp		13,885
	76,248		Starwood Hotels & Resorts Worldwide, Inc		2,960
	135,456		State Street Corp		4,356
	33,873	*	Stericycle, Inc		2,734
	107,351		Stryker Corp		5,059
	3,956		Sunoco, Inc		123
	53	*,e	Sunpower Corp (Class A)		0	^
	27,122		SunTrust Banks, Inc		487
	56,800	e	Supervalu, Inc		378
	1,043,868	*	Symantec Corp		17,015
	22,842	*	Synopsys, Inc		556
	75,389		Sysco Corp		1,953
	15,616		T Rowe Price Group, Inc		746
	764,633		Target Corp		37,499
	43,230	e	Taubman Centers, Inc		2,175
	92,111		TD Ameritrade Holding Corp		1,354
	25,000	*	Tempur-Pedic International, Inc		1,315
	56,559	*	Teradata Corp		3,028
	96,000	*,e	Teradyne, Inc		1,057
	250,177		Texas Instruments, Inc		6,667
	378,570		Textron, Inc		6,678
	381,413	*	Thermo Electron Corp		19,314
	36,376		Tiffany & Co		2,212
	406,375		Time Warner Cable, Inc		25,469
	36,364		Time Warner, Inc		1,090
	106,233		Timken Co		3,487
	289,928		TJX Companies, Inc		16,082
	53,524	*	Toll Brothers, Inc		772
	94,626		TonenGeneral Sekiyu KK		1,087
	49,721		Torchmark Corp		1,733
	49,176		Toro Co		2,423
	90,425		Total System Services, Inc		1,531
	6,188	*	TransDigm Group, Inc		505
	41,056		Travelers Cos, Inc		2,001
	198,060	*	TRW Automotive Holdings Corp		6,483
	87,311		Tupperware Corp		4,692
	95,033	e	Tyco Electronics Ltd		2,674
	961,283		Tyco International Ltd		39,172
	170,925		Tyson Foods, Inc (Class A)		2,967
	268,252	*	UAL Corp		5,198
	12,807	*	Ultra Petroleum Corp		355

235

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	250,111		Union Pacific Corp	$	20,427
	441,984		United Parcel Service, Inc (Class B)		27,912
	4,777	e	United States Steel Corp		105
	142,489		United Technologies Corp		10,026
	1,955,549		UnitedHealth Group, Inc		90,189
	220,316		UnumProvident Corp		4,618
	7,472	*	Urban Outfitters, Inc		167
	45,788	*	URS Corp		1,358
	1,522,462		US Bancorp		35,839
	160,337		Valero Energy Corp		2,851
	173,454	*	Vanda Pharmaceuticals, Inc		859
	6,507	*	Varian Medical Systems, Inc		339
	58,654		Ventas, Inc		2,898
	79,043	*	VeriFone Systems, Inc		2,768
	22,670		VeriSign, Inc		649
	48,871	*	Verisk Analytics, Inc		1,699
	1,273,619		Verizon Communications, Inc		46,870
	10,360	*	Vertex Pharmaceuticals, Inc		461
	30,872		VF Corp		3,752
	791,824		Viacom, Inc (Class B)		30,676
	49,377		Visa, Inc (Class A)		4,233
	320,118	*	Vishay Intertechnology, Inc		2,676
	536,600	*	Visteon Corp		23,073
	238,670	*	VMware, Inc (Class A)		19,184
	79,414		Vornado Realty Trust		5,926
	4,276	e	Vulcan Materials Co		118
	39,034		W.R. Berkley Corp		1,159
	18,386		W.W. Grainger, Inc		2,749
	93,000	*	WABCO Holdings, Inc		3,521
	72,110		Walgreen Co		2,372
	460,344		Wal-Mart Stores, Inc		23,892
	718,954		Walt Disney Co		21,684
	1,461,366		Walter Energy, Inc		87,697
	184,740	e	Warner Chilcott plc		2,642
	766	e	Washington Post Co (Class B)		250
	24,200		Waste Management, Inc		788
	46,603	*	Waters Corp		3,518
	687,209	*	Watson Pharmaceuticals, Inc		46,902
	73,110	*	Weatherford International Ltd		893
	26,780	*	WellCare Health Plans, Inc		1,017
	344,309		WellPoint, Inc		22,475
	3,836,627		Wells Fargo & Co		92,538
	146,457	*	Western Digital Corp		3,767
	472,080		Western Union Co		7,218
	42,400		Westlake Chemical Corp		1,453
	176,757	*	Westway Group, Inc		751
	18,074	e	Weyerhaeuser Co		281
	51,828		Whirlpool Corp		2,587
	9,852	*	Whiting Petroleum Corp		346
	69,325		Whole Foods Market, Inc		4,528
	323,880		Williams Cos, Inc		7,883
	145,300		Williams-Sonoma, Inc		4,474

236

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	RATE	MATURITY DATE		VALUE (000)
	21,811	e	Willis Group Holdings plc			$	750
	76,656	e	Windstream Corp				894
	84,519		Wisconsin Energy Corp				2,645
	310,386	*	WR Grace & Co				10,336
	15,027		Wynn Resorts Ltd				1,729
	457,539		Xcel Energy, Inc				11,297
	812,353		Xerox Corp				5,662
	173,157		Xilinx, Inc				4,751
	739,739	*	Yahoo!, Inc				9,734
	334,218		Yum! Brands, Inc				16,507
	42,618	*	Zimmer Holdings, Inc				2,280
			TOTAL UNITED STATES				6,431,113
VIRGIN ISLANDS, BRITISH - 0.1%
	377,743		Arcos Dorados Holdings, Inc				8,760
			TOTAL VIRGIN ISLANDS, BRITISH				8,760
			TOTAL COMMON STOCKS				12,285,402
			(Cost $13,302,555)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	681,005	m	GPT Group				0	^
			TOTAL AUSTRALIA				0	^
FRANCE - 0.0%
	59,520		Sanofi-Aventis S.A.				63
			TOTAL FRANCE				63
MALAYSIA - 0.0%
	51,780		IJM Land BHD				13
			TOTAL MALAYSIA				13
SPAIN - 0.0%
	503,274		Banco Bilbao Vizcaya Argentaria S.A.				74
	57,358		CaixaBank				5
			TOTAL SPAIN				79
UNITED STATES - 0.0%
	759		American International Group, Inc				5
			TOTAL UNITED STATES				5
			TOTAL RIGHTS / WARRANTS				160
			(Cost $238)

PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 9.9%
GOVERNMENT AGENCY DEBT - 0.4%
		Federal Home Loan Bank (FHLB)
$	13,224,000	FHLB	0.025	%	12/23/11	13,224
		Federal National Mortgage Association (FNMA)

237

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
$	32,400,000		FNMA	0.023	%	11/09/11	$	32,398
			TOTAL GOVERNMENT AGENCY DEBT					45,622
TREASURY DEBT - 0.3%
	20,000,000		United States Treasury Bill	0.015		04/05/12		19,994
	20,000,000		United States Treasury Bill	0.031		05/31/12		19,991
			TOTAL TREASURY DEBT					39,985
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 9.2%
REPURCHASE AGREEMENTS - 8.3%
	323,000,000	o	Barclays Capital	0.050		10/03/11		323,000
	21,000,000	p	BNP	0.020		10/03/11		21,000
	48,000,000	q	Calyon	0.050		10/03/11		48,000
	40,000,000	r	Citigroup	0.040		10/03/11		40,000
	50,000,000	s	CSFB	0.050		10/03/11		50,000
	49,000,000	t	Deutsche Bank	0.030		10/03/11		49,000
	25,000,000	u	HSBC	0.030		10/03/11		25,000
	67,000,000	v	ING	0.020		10/03/11		67,000
	54,916,000	w	Merrill Lynch	0.040		10/03/11		54,916
	52,000,000	x	Morgan Stanley	0.030		10/03/11		52,000
	90,000,000	y	Nomura Securities	0.040		10/03/11		90,000
	77,000,000	z	Royal Bank of Scotland	0.050		10/03/11		77,000
	67,000,000	aa	Societe Generale	0.030		10/03/11		67,000
	64,000,000	bb	UBS Warburg	0.030		10/03/11		64,000
			TOTAL REPURCHASE AGREEMENTS					1,027,916
VARIABLE RATE SECURITY - 0.9%
	11,000,000		American Express Credit Account Master	0.530		10/15/12		11,026
	9,000,000		Chase Issuance Trust 2007	0.590		06/15/12		8,994
	1,855,691		GE Equipment Midticket LLC	0.530		11/14/11		1,856
	3,000,000		General Electric Cap Corp	0.760		11/21/11		2,999
	3,149,956		Granite Master Issuer plc 2006	0.570		12/20/50		2,985
	2,699,962		Granite Master Issuer plc 2007	0.490		12/20/50		2,558
	1,549,934		Medallion Trust Series 2005	0.460		08/22/36		1,500
	6,147,183		Nelnet Student Loan Trust 2006	0.460		11/23/18		6,136
	2,700,827		Nelnet Student Loan Trust 2007	0.610		09/25/18		2,693
	25,000,000		Permanent Master Issuer plc	0.700		10/15/33		24,947
	3,099,910		Puma Global Mortgage Backed Trust	0.480		02/21/38		2,907
	524,422		SLM Student Loan Trust 2006	0.770		01/25/19		524
	30,000,000		SLM Student Loan Trust 2007	0.440		01/25/19		28,921
	7,523,869		SLM Student Loan Trust 2008	0.600		10/25/16		7,527
			TOTAL VARIABLE RATE SECURITY					105,573
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED					1,133,489
			TOTAL SHORT-TERM INVESTMENTS					1,219,096
			(Cost $1,220,454)
			TOTAL INVESTMENTS - 109.0%					13,504,658
			(Cost $14,523,247)
			OTHER ASSETS & LIABILITIES, NET - (9.0)%				$	(1,115,363	)
			NET ASSETS - 100.0%				$	12,389,295

238

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

	Abbreviation(s):
ADR	American Depositary Receipt
SPDR	Standard & Poor’s Depositary Receipts
*	Non-income producing.
^	Amount represents less than $1,000.
b	In bankruptcy.
e	All or a portion of these securities are out on loan.
f	Restricted security. As of 9/30/2011, the value of these securities amounted to $11,526,847,000 or 0.1% of net assets.
m	Indicates a security that has been deemed illiquid.
o	Agreement with Barclays Capital, 0.05% dated 9/30/11 to be repurchased at $323,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $329,460,000.
p	Agreement with BNP, 0.02% dated 09/30/11 to be repurchased at $21,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $21,420,000.
q	Agreement with Calyon, 0.05% dated 09/30/11 to be repurchased at $48,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $48,960,000.
r	Agreement with Citgroup, 0.04% dated 09/30/11 to be repurchased at $40,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $40,800,000.
s	Agreement with CSFB, 0.05% dated 09/30/11 to be repurchased at $50,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $51,000,000.
t	Agreement with Deutsche Bank, 0.03% dated 09/30/11 to be repurchased at $49,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $49,980,000.
u	Agreement with HSBC, 0.03% dated 09/30/11 to be repurchased at $25,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $25,504,000.
v	Agreement with ING, 0.02% dated 09/30/11 to be repurchased at $67,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $68,343,000.
w	Agreement with Merrill Lynch, 0.04% dated 09/30/11 to be repurchased at $54,916,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $56,014,000.
x	Agreement with Morgan Stanley, 0.03% dated 09/30/11 to be repurchased at $52,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $53,040,000.
y	Agreement with Nomura Securities, 0.04% dated 09/30/11 to be repurchased at $90,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $91,800,000.
z	Agreement with Royal Bank of Scotland, 0.05% dated 09/30/11 to be repurchased at $77,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $78,544,000.
aa	Agreement with Societe Generale, 0.03% dated 09/30/11 to be repurchased at $67,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $68,340,000.
bb	Agreement with UBS Warburg, 0.03% dated 09/30/11 to be repurchased at $64,000,000 on 10/03/11, collateralized by U.S. Government Agency Securities valued at $65,280,000.
	Cost amounts are in thousands.

239

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES ACCOUNT
SUMMARY OF MARKET VALUES BY SECTOR (unaudited)
September 30, 2011

SECTOR	VALUE (000)			% OF NET ASSETS
FINANCIALS	$	2,304,222			18.6	%
INFORMATION TECHNOLOGY		1,615,352			13.0
CONSUMER DISCRETIONARY		1,529,753			12.4
HEALTH CARE		1,345,495			10.9
INDUSTRIALS		1,299,301			10.5
CONSUMER STAPLES		1,253,011			10.1
ENERGY		1,174,748			9.5
MATERIALS		991,062			8.0
TELECOMMUNICATION SERVICES		395,428			3.2
UTILITIES		377,190			3.0
SHORT - TERM INVESTMENTS		1,219,096			9.8
OTHER ASSETS & LIABILITIES, NET		(1,115,363	)		(9.0	)
NET ASSETS	$	12,389,295			100.0	%

240

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND
GROWTH ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2011

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.3%
AUTOMOBILES & COMPONENTS - 1.2%
	228,342	*	BorgWarner, Inc	$	13,822
	420,700	*	Federal Mogul Corp (Class A)		6,205
	2,238,829	*	Ford Motor Co		21,650
	148,780		Gentex Corp		3,578
	1,184,127	*	Goodyear Tire & Rubber Co		11,948
	252,903		Harley-Davidson, Inc		8,682
	29,900		Hyundai Mobis		8,469
	1,840,547		Johnson Controls, Inc		48,535
	55,353	*,e	Tesla Motors, Inc		1,350
	374,823	*	TRW Automotive Holdings Corp		12,268
	2,900	*	Visteon Corp		125
			TOTAL AUTOMOBILES & COMPONENTS		136,632
BANKS - 0.2%
	42,487		Hudson City Bancorp, Inc		240
	72,867		People’s United Financial, Inc		831
	793,325		Wells Fargo & Co		19,135
			TOTAL BANKS		20,206
CAPITAL GOODS - 8.9%
	673,483		3M Co		48,349
	57,642	*	Aecom Technology Corp		1,019
	2,348		Alliant Techsystems, Inc		128
	170,226		Ametek, Inc		5,612
	2,269		Armstrong World Industries, Inc		78
	126,997	*	Babcock & Wilcox Co		2,483
	99,253	*	BE Aerospace, Inc		3,286
	1,749,493		Boeing Co		105,863
	5,375		Carlisle Cos, Inc		171
	1,542,934		Caterpillar, Inc		113,929
	3,693,820		Changsha Zoomlion Heavy Industry Science and Technology Development Co Ltd		4,128
	367,541		Chicago Bridge & Iron Co NV		10,522
	292,100	*	CNH Global NV		7,665
	115,834		Cooper Industries plc		5,342
	480,569		Cummins, Inc		39,243
	1,186,812		Danaher Corp		49,776
	612,029		Deere & Co		39,518
	82,272		Donaldson Co, Inc		4,509
	156,896		Dover Corp		7,311
	139,804		Eaton Corp		4,963
	806,651		Emerson Electric Co		33,323

241

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	158,788	e	Empresa Brasileira de Aeronautica S.A. (ADR)	$	4,028
	679,542		European Aeronautic Defence and Space Co		19,101
	318,594	e	Fastenal Co		10,603
	54,932		Flowserve Corp		4,065
	188,391		Fluor Corp		8,770
	181,638		Gardner Denver, Inc		11,543
	29,294	*	General Cable Corp		684
	260,949		Goodrich Corp		31,491
	65,045		Graco, Inc		2,221
	7,400	*	GrafTech International Ltd		94
	7,215		Harsco Corp		140
	1,644,132		Honeywell International, Inc		72,194
	80,193		IDEX Corp		2,499
	447,072		Illinois Tool Works, Inc		18,598
	283,788		Ingersoll-Rand plc		7,972
	378,150		Joy Global, Inc		23,589
	430,318		KBR, Inc		10,168
	172,909		Kennametal, Inc		5,661
	57,704		Lennox International, Inc		1,488
	57,049		Lincoln Electric Holdings, Inc		1,655
	268,184		Lockheed Martin Corp		19,481
	141,085	e	Manitowoc Co, Inc		947
	386,869		Masco Corp		2,754
	46,405		MSC Industrial Direct Co (Class A)		2,620
	42,015	*	Navistar International Corp		1,350
	65,547		Nordson Corp		2,605
	392,311		Paccar, Inc		13,268
	125,680		Pall Corp		5,329
	325,289		Parker Hannifin Corp		20,535
	42,229	*	Polypore International, Inc		2,387
	562,149		Precision Castparts Corp		87,393
	155,956		Rockwell Automation, Inc		8,734
	166,510		Rockwell Collins, Inc		8,785
	576,393		Roper Industries, Inc		39,718
	11,427		Snap-On, Inc		507
	17,196	*	Spirit Aerosystems Holdings, Inc (Class A)		274
	15,133		SPX Corp		686
	16,817		Textron, Inc		297
	9,816	*	Thomas & Betts Corp		392
	426,485		Timken Co		13,997
	33,396		Toro Co		1,645
	53,989	*	TransDigm Group, Inc		4,409
	212,400		Tyco International Ltd		8,655
	929,335		United Technologies Corp		65,388
	23,525		Valmont Industries, Inc		1,834
	126,819		W.W. Grainger, Inc		18,965
	72,923	*	WABCO Holdings, Inc		2,761
	22,003	*	WESCO International, Inc		738
	52,149		Westinghouse Air Brake Technologies Corp		2,757
			TOTAL CAPITAL GOODS		1,062,993

242

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
COMMERCIAL & PROFESSIONAL SERVICES - 0.5%
	6,855		Avery Dennison Corp	$	172
	63,805	*	Copart, Inc		2,496
	8,000		Covanta Holding Corp		122
	53,029		Dun & Bradstreet Corp		3,249
	6,768		Equifax, Inc		208
	51,885	*	IHS, Inc (Class A)		3,882
	194,804		Iron Mountain, Inc		6,160
	4,208	*	KAR Auction Services, Inc		51
	75,057	*	Nielsen Holdings NV		1,957
	157,621		Robert Half International, Inc		3,345
	182,883	*	Stericycle, Inc		14,762
	84,185		Towers Watson & Co		5,032
	107,433	*	Verisk Analytics, Inc		3,735
	440,776		Waste Connections, Inc		14,907
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		60,078
CONSUMER DURABLES & APPAREL - 1.9%
	428,436		Burberry Group plc		7,780
	315,569		Coach, Inc		16,356
	41,794	*	Deckers Outdoor Corp		3,898
	207,613	*	Fossil, Inc		16,829
	7,368	e	Garmin Ltd		234
	101,939	*	Hanesbrands, Inc		2,549
	49,824		Harman International Industries, Inc		1,424
	130,718		Hasbro, Inc		4,263
	924,615		Jarden Corp		26,130
	116,112		Leggett & Platt, Inc		2,298
	507,308		Mattel, Inc		13,134
	915,712		Nike, Inc (Class B)		78,303
	9,537		Phillips-Van Heusen Corp		555
	69,990		Polaris Industries, Inc		3,497
	67,871		Ralph Lauren Corp		8,803
	225,035	*	Tempur-Pedic International, Inc		11,839
	505,920		Tupperware Corp		27,188
	39,348	*,e	Under Armour, Inc (Class A)		2,613
			TOTAL CONSUMER DURABLES & APPAREL		227,693
CONSUMER SERVICES - 3.7%
	130,369	*	Apollo Group, Inc (Class A)		5,164
	44,231	*	Bally Technologies, Inc		1,193
	347,916		Brinker International, Inc		7,278
	930,207		Carnival Corp		28,185
	131,032	*	Chipotle Mexican Grill, Inc (Class A)		39,696
	2,133		Choice Hotels International, Inc		63
	146,409		Darden Restaurants, Inc		6,259
	60,436		DeVry, Inc		2,234
	23,700	*	Dunkin Brands Group, Inc		656
	194,076		H&R Block, Inc		2,583
	2,400	*	Hyatt Hotels Corp		75
	168,542		International Game Technology		2,449
	30,332	*,e	ITT Educational Services, Inc		1,747
	1,975,832	*	Las Vegas Sands Corp		75,753

243

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	300,636		Marriott International, Inc (Class A)	$	8,189
	1,113,661		McDonald’s Corp		97,803
	1,797,200	*	MGM China Holdings Ltd		2,382
	1,238,833	*,e	MGM Mirage		11,509
	746,697	*	Orient-Express Hotels Ltd (Class A)		5,160
	31,095	*	Panera Bread Co (Class A)		3,232
	81,331		Royal Caribbean Cruises Ltd		1,760
	4,839,400	*	Sands China Ltd		11,323
	2,234,008		Starbucks Corp		83,306
	210,747		Starwood Hotels & Resorts Worldwide, Inc		8,181
	162,253	e	Weight Watchers International, Inc		9,451
	85,011		Wynn Resorts Ltd		9,783
	499,652		Yum! Brands, Inc		24,678
			TOTAL CONSUMER SERVICES		450,092
DIVERSIFIED FINANCIALS - 3.1%
	39,919	*	Affiliated Managers Group, Inc		3,116
	886,655		American Express Co		39,811
	230,091		BlackRock, Inc		34,056
	691,899		Blackstone Group LP		8,289
	56,818		CBOE Holdings, Inc		1,390
	1,116,969		Charles Schwab Corp		12,588
	32,308		CME Group, Inc		7,961
	621,305		Discover Financial Services		14,253
	125,825		Eaton Vance Corp		2,802
	79,256	e	Federated Investors, Inc (Class B)		1,389
	306,520		Franklin Resources, Inc		29,316
	23,857	*,e	Green Dot Corp		747
	31,669	e	Greenhill & Co, Inc		905
	521,385	*	IntercontinentalExchange, Inc		61,660
	2,220,750	e	iShares Russell 1000 Growth Index Fund		116,856
	119,926		Lazard Ltd (Class A)		2,530
	31,289	*	LPL Investment Holdings, Inc		795
	213,872		Moody’s Corp		6,512
	129,870	*	MSCI, Inc (Class A)		3,939
	365,965	*	Nasdaq Stock Market, Inc		8,468
	87,473		NYSE Euronext		2,033
	160,749		SEI Investments Co		2,472
	278,842		T Rowe Price Group, Inc		13,320
	234,819		TD Ameritrade Holding Corp		3,453
	94,241		Waddell & Reed Financial, Inc (Class A)		2,357
			TOTAL DIVERSIFIED FINANCIALS		381,018
ENERGY - 9.0%
	137,314	*	Alpha Natural Resources, Inc		2,429
	366,648		Anadarko Petroleum Corp		23,117
	324,384		Apache Corp		26,029
	24,650		Arch Coal, Inc		359
	12,230	*	Atwood Oceanics, Inc		420
	185,325		Baker Hughes, Inc		8,555
	126,501	*	Brigham Exploration Co		3,195
	111,245		Cabot Oil & Gas Corp		6,887

244

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	195,189	*	Cameron International Corp	$	8,108
	20,724	e	CARBO Ceramics, Inc		2,125
	815,136		Cenovus Energy, Inc		25,033
	332,722		Chevron Corp		30,783
	24,354		Cimarex Energy Co		1,357
	119,251	*	Cobalt International Energy, Inc		919
	863,431	*	Concho Resources, Inc		61,423
	244,873		Consol Energy, Inc		8,309
	45,291	*,e	Continental Resources, Inc		2,191
	49,290		Core Laboratories NV		4,428
	795,475		Crescent Point Energy Corp		29,947
	1,423,995	*	Denbury Resources, Inc		16,376
	35,084	e	Diamond Offshore Drilling, Inc		1,920
	86,194	*	Dresser-Rand Group, Inc		3,493
	776,079		El Paso Corp		13,566
	288,081		EOG Resources, Inc		20,457
	57,033		Equitable Resources, Inc		3,043
	152,113		EXCO Resources, Inc		1,631
	5,059,130	d	Exxon Mobil Corp		367,444
	259,540	*	FMC Technologies, Inc		9,759
	96,478	*	Forest Oil Corp		1,389
	1,203,153		Halliburton Co		36,720
	95,518		Helmerich & Payne, Inc		3,878
	206,196		Holly Corp		5,406
	125,948	e	Kinder Morgan, Inc		3,261
	30,050	*	Kosmos Energy LLC		352
	221,640	*	McDermott International, Inc		2,385
	31,957		Murphy Oil Corp		1,411
	872,816		National Oilwell Varco, Inc		44,706
	83,820	*	Newfield Exploration Co		3,327
	38,347		Noble Energy, Inc		2,715
	498,325		Occidental Petroleum Corp		35,630
	117,262		Oceaneering International, Inc		4,144
	46,525	*	Oil States International, Inc		2,369
	18,605		Patterson-UTI Energy, Inc		323
	290,218		Peabody Energy Corp		9,833
	228,849		Petroleo Brasileiro S.A. (ADR)		5,138
	102,368		Pioneer Natural Resources Co		6,733
	149,932		Questar Market Resources, Inc		4,059
	7,745	*,e	Quicksilver Resources, Inc		59
	171,319		Range Resources Corp		10,015
	22,705	*	Rowan Cos, Inc		685
	46,415		RPC, Inc		757
	442,809	*,e	SandRidge Energy, Inc		2,462
	2,862,921		Schlumberger Ltd		171,003
	373,023	*	Southwestern Energy Co		12,433
	55,573		St. Mary Land & Exploration Co		3,371
	486,504		Suncor Energy, Inc (NY)		12,377
	86,014	*	Superior Energy Services		2,257
	3,600		Tidewater, Inc		151
	432,500		Tullow Oil plc		8,747
	163,536	*	Ultra Petroleum Corp		4,533
	126,817	*	Whiting Petroleum Corp		4,449
			TOTAL ENERGY		1,090,381

245

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
FOOD & STAPLES RETAILING - 2.2%
	4,731	*	BJ’s Wholesale Club, Inc	$	242
	1,069,753		Costco Wholesale Corp		87,848
	1,391,522		Kroger Co		30,558
	626,274		Sysco Corp		16,220
	927,378		Walgreen Co		30,501
	1,721,879		Wal-Mart Stores, Inc		89,366
	167,058		Whole Foods Market, Inc		10,911
			TOTAL FOOD & STAPLES RETAILING		265,646
FOOD, BEVERAGE & TOBACCO - 6.2%
	2,015,000		Altria Group, Inc		54,022
	94,469		Brown-Forman Corp (Class B)		6,626
	40,712		Bunge Ltd		2,373
	143,151		Campbell Soup Co		4,634
	2,916,122		Coca-Cola Co		197,013
	2,067,103		Coca-Cola Enterprises, Inc		51,430
	55,647		ConAgra Foods, Inc		1,348
	66,590		Corn Products International, Inc		2,613
	239,190		Dr Pepper Snapple Group, Inc		9,276
	120,832		Flowers Foods, Inc		2,351
	516,490		General Mills, Inc		19,869
	131,849	*	Green Mountain Coffee Roasters, Inc		12,254
	203,056		H.J. Heinz Co		10,250
	137,637	*	Hansen Natural Corp		12,014
	122,591		Hershey Co		7,262
	78,703		Hormel Foods Corp		2,127
	245,584		Kellogg Co		13,063
	177,268		Lorillard, Inc		19,624
	97,980		McCormick & Co, Inc		4,523
	342,525		Mead Johnson Nutrition Co		23,576
	1,696,676		PepsiCo, Inc		105,024
	2,620,517		Philip Morris International, Inc		163,468
	110,541		Reynolds American, Inc		4,143
	524,714		Sara Lee Corp		8,579
			TOTAL FOOD, BEVERAGE & TOBACCO		737,462
HEALTH CARE EQUIPMENT & SERVICES - 4.9%
	297,500		Aetna, Inc		10,814
	165,592	*	Allscripts Healthcare Solutions, Inc		2,984
	31,526	*	Amerigroup Corp		1,230
	722,297		AmerisourceBergen Corp		26,920
	92,496		Bard (C.R.), Inc		8,097
	718,727		Baxter International, Inc		40,349
	234,834		Becton Dickinson & Co		17,218
	91,495	*	Brookdale Senior Living, Inc		1,147
	490,669		Cardinal Health, Inc		20,549
	75,539	*	CareFusion Corp		1,809
	45,982	*	Catalyst Health Solutions, Inc		2,653

246

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	694,190	*	Cerner Corp	$	47,566
	167,349		Cigna Corp		7,019
	122,751		Cooper Cos, Inc		9,716
	422,571		Covidien plc		18,635
	275,031	*	DaVita, Inc		17,236
	61,666		Dentsply International, Inc		1,893
	535,958	*	Edwards Lifesciences Corp		38,203
	1,723	*,e	Emdeon, Inc		32
	864,086	*	Express Scripts, Inc		32,032
	51,520	*	Gen-Probe, Inc		2,950
	85,048	*	HCA Holdings, Inc		1,715
	266,830	*	Health Management Associates, Inc (Class A)		1,846
	52,446	*	Henry Schein, Inc		3,252
	57,244		Hill-Rom Holdings, Inc		1,718
	62,116	*	Idexx Laboratories, Inc		4,284
	216,532	*	Intuitive Surgical, Inc		78,878
	54,197	*	Kinetic Concepts, Inc		3,571
	106,957	*	Laboratory Corp of America Holdings		8,455
	101,726		Lincare Holdings, Inc		2,289
	467,877		McKesson Corp		34,014
	429,011	*	Medco Health Solutions, Inc		20,116
	991,156		Medtronic, Inc		32,946
	44,101		Patterson Cos, Inc		1,263
	52,004	*	Pediatrix Medical Group, Inc		3,258
	152,864		Quest Diagnostics, Inc		7,545
	161,788	*	Resmed, Inc		4,658
	60,257	*	Sirona Dental Systems, Inc		2,555
	351,194		St. Jude Medical, Inc		12,710
	335,811		Stryker Corp		15,827
	64,862	*	SXC Health Solutions Corp		3,613
	29,156	*	Tenet Healthcare Corp		120
	61,627	*	Thoratec Corp		2,012
	254,073		UnitedHealth Group, Inc		11,718
	97,641		Universal Health Services, Inc (Class B)		3,320
	184,496	*	Varian Medical Systems, Inc		9,623
	92,900		WellPoint, Inc		6,065
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		586,423
HOUSEHOLD & PERSONAL PRODUCTS - 1.4%
	464,793		Avon Products, Inc		9,110
	88,950		Church & Dwight Co, Inc		3,932
	8,378		Clorox Co		556
	473,734		Colgate-Palmolive Co		42,010
	667,727		Estee Lauder Cos (Class A)		58,653
	422,972		Herbalife Ltd		22,671
	370,013		Kimberly-Clark Corp		26,275
	199,955		Procter & Gamble Co		12,633
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		175,840
INSURANCE - 0.2%
	152,019		ACE Ltd		9,212
	218,469		Aflac, Inc		7,635

247

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	29,897		Erie Indemnity Co (Class A)	$	2,128
	354,062		Metlife, Inc		9,918
	9,345		Validus Holdings Ltd		233
			TOTAL INSURANCE		29,126
MATERIALS - 5.0%
	226,788		Air Products & Chemicals, Inc		17,320
	84,241		Airgas, Inc		5,376
	17,407	e	AK Steel Holding Corp		114
	240,933		Albemarle Corp		9,734
	114,714		Allegheny Technologies, Inc		4,243
	93,654	*	Allied Nevada Gold Corp		3,354
	230,913		Ashland, Inc		10,192
	515,086		Ball Corp		15,979
	214,712		Barrick Gold Corp		10,016
	47,292		Carpenter Technology Corp		2,123
	804,896		Celanese Corp (Series A)		26,183
	194,189		CF Industries Holdings, Inc		23,961
	325,670		Cleveland-Cliffs, Inc		16,665
	34,727		Compass Minerals International, Inc		2,319
	167,513	*	Crown Holdings, Inc		5,128
	996,671		Du Pont (E.I.) de Nemours & Co		39,837
	279,135		Eastman Chemical Co		19,129
	248,894		Ecolab, Inc		12,168
	77,540		FMC Corp		5,363
	1,810,888		Freeport-McMoRan Copper & Gold, Inc (Class B)		55,141
	551,519		Huntsman Corp		5,333
	85,508		International Flavors & Fragrances, Inc		4,807
	589,794		International Paper Co		13,713
	56,522	*	Intrepid Potash, Inc		1,406
	23,647	e	Kronos Worldwide, Inc		380
	136,800		Lanxess AG.		6,562
	23,085		LyondellBasell Industries AF S.C.A		564
	23,920	e	Martin Marietta Materials, Inc		1,512
	60,566	*,e	Molycorp, Inc		1,991
	2,197,518		Monsanto Co		131,940
	295,172		Mosaic Co		14,455
	132,031		Nalco Holding Co		4,618
	99,620		Packaging Corp of America		2,321
	303,913		PPG Industries, Inc		21,474
	326,236		Praxair, Inc		30,497
	8,600		Reliance Steel & Aluminum Co		292
	74,863		Rock-Tenn Co (Class A)		3,644
	259,392	*	Rockwood Holdings, Inc		8,739
	58,721	e	Royal Gold, Inc		3,762
	5,112		Schnitzer Steel Industries, Inc (Class A)		188
	43,364	e	Scotts Miracle-Gro Co (Class A)		1,934
	96,996		Sherwin-Williams Co		7,209
	131,607		Sigma-Aldrich Corp		8,132
	53,496		Silgan Holdings, Inc		1,965
	131,999	*	Solutia, Inc		1,696
	181,779		Southern Copper Corp (NY)		4,543

248

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	172,275		Steel Dynamics, Inc	$	1,709
	30,447		Temple-Inland, Inc		955
	48,904		Titanium Metals Corp		733
	10,738		Valspar Corp		335
	252,281		Walter Energy, Inc		15,139
	4,566		Westlake Chemical Corp		157
	381,961	*	WR Grace & Co		12,719
			TOTAL MATERIALS		599,769
MEDIA - 3.0%
	58,701	*	AMC Networks, Inc		1,875
	234,805		Cablevision Systems Corp (Class A)		3,693
	768,020		CBS Corp (Class B)		15,652
	62,543	*	Charter Communications, Inc		2,930
	1,677,322		Comcast Corp (Class A)		35,056
	1,524,205	*	DIRECTV		64,399
	301,097	*	Discovery Communications, Inc (Class A)		11,327
	806,483		DISH Network Corp (Class A)		20,210
	1,309,601		Interpublic Group of Cos, Inc		9,429
	50,387		John Wiley & Sons, Inc (Class A)		2,238
	12,926	*,e	Lamar Advertising Co (Class A)		220
	297,521	*	Liberty Global, Inc (Class A)		10,764
	424,209		McGraw-Hill Cos, Inc		17,393
	26,387		Morningstar, Inc		1,489
	303,136		Omnicom Group, Inc		11,168
	9,500	*	Pandora Media, Inc		139
	20,191	e	Regal Entertainment Group (Class A)		237
	101,136		Scripps Networks Interactive (Class A)		3,759
	4,163,595	*,e	Sirius XM Radio, Inc		6,287
	191,771		Thomson Corp		5,185
	493,719		Time Warner Cable, Inc		30,941
	1,373,358		Viacom, Inc (Class B)		53,205
	342,792		Virgin Media, Inc		8,347
	1,448,444		Walt Disney Co		43,685
			TOTAL MEDIA		359,628
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.1%
	1,566,504		Abbott Laboratories		80,111
	1,428,679	*	Agilent Technologies, Inc		44,647
	731,951	*	Alexion Pharmaceuticals, Inc		46,889
	1,401,517		Allergan, Inc		115,456
	140,549	*	Amylin Pharmaceuticals, Inc		1,297
	475,518	*	Biogen Idec, Inc		44,295
	119,847	*	BioMarin Pharmaceuticals, Inc		3,820
	91,533	*	Bruker BioSciences Corp		1,238
	1,699,872	*	Celgene Corp		105,255
	55,752	*	Charles River Laboratories International, Inc		1,596
	64,707	*	Covance, Inc		2,941
	154,061	*,e	Dendreon Corp		1,387
	361,399		Eli Lilly & Co		13,361
	314,825	*	Endo Pharmaceuticals Holdings, Inc		8,812
	1,257,162	*	Gilead Sciences, Inc		48,777

249

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	152,179	*	Hospira, Inc	$	5,631
	501,697	*	Human Genome Sciences, Inc		6,367
	272,101	*,e	Illumina, Inc		11,134
	599,480		Johnson & Johnson		38,193
	215,762	*	Life Technologies Corp		8,292
	110,867	*	Mettler-Toledo International, Inc		15,517
	1,447,454	*	Mylan Laboratories, Inc		24,607
	92,093	*	Myriad Genetics, Inc		1,726
	323,601		Perrigo Co		31,425
	1,517,441		Pfizer, Inc		26,828
	107,362		Pharmaceutical Product Development, Inc		2,755
	78,338	*	Pharmasset, Inc		6,453
	74,910	*,e	Regeneron Pharmaceuticals, Inc		4,360
	207,705		Shire plc (ADR)		19,510
	39,780		Techne Corp		2,705
	101,300	*	Thermo Electron Corp		5,130
	55,883	*	United Therapeutics Corp		2,095
	459,051	*	Vertex Pharmaceuticals, Inc		20,446
	768,026		Warner Chilcott plc		10,983
	98,349	*	Waters Corp		7,424
	1,340,935	*	Watson Pharmaceuticals, Inc		91,518
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		862,981
REAL ESTATE - 1.1%
	87,612		Apartment Investment & Management Co (Class A)		1,938
	129,173		Boston Properties, Inc		11,509
	54,632		Camden Property Trust		3,019
	315,600	*	CBRE Group, Inc		4,248
	24,141		Corporate Office Properties Trust		526
	102,834	e	Digital Realty Trust, Inc		5,672
	13		Duke Realty Corp		0^
	78,076		Equity Residential		4,050
	19,626		Essex Property Trust, Inc		2,356
	49,432		Federal Realty Investment Trust		4,074
	35,238		Jones Lang LaSalle, Inc		1,826
	50,628		Macerich Co		2,158
	105,499	e	Plum Creek Timber Co, Inc		3,662
	141,941		Public Storage, Inc		15,805
	131,517		Rayonier, Inc		4,839
	435,684		Simon Property Group, Inc		47,916
	11,482		UDR, Inc		254
	166,247		Ventas, Inc		8,213
	21,928		Vornado Realty Trust		1,636
	168,650		Weyerhaeuser Co		2,623
			TOTAL REAL ESTATE		126,324
RETAILING - 6.5%
	62,982		Aaron’s, Inc		1,590
	81,583		Abercrombie & Fitch Co (Class A)		5,022
	83,648		Advance Auto Parts, Inc		4,860
	1,275,228	*	Amazon.com, Inc		275,742
	20,760	*,e	Autonation, Inc		681

250

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	67,822	*	Autozone, Inc	$	21,648
	1,079,795	*	Bed Bath & Beyond, Inc		61,882
	28,146	*	Big Lots, Inc		980
	41,162	*	Carmax, Inc		982
	1,132,917		Chico’s FAS, Inc		12,949
	101,697	*	Dick’s Sporting Goods, Inc		3,403
	106,853	*	Dollar General Corp		4,035
	316,848	*	Dollar Tree, Inc		23,798
	210,190		DSW, Inc (Class A)		9,707
	123,020		Expedia, Inc		3,168
	237,729		Family Dollar Stores, Inc		12,091
	46,432		Genuine Parts Co		2,359
	69,985		Guess?, Inc		1,994
	1,033,780		Home Depot, Inc		33,980
	5,600	*	HomeAway, Inc		188
	245,291		Kohl’s Corp		12,044
	810,528		Limited Brands, Inc		31,213
	150,516	*	LKQ Corp		3,636
	851,288		Macy’s, Inc		22,406
	56,262	*,e	NetFlix, Inc		6,367
	452,301		Nordstrom, Inc		20,661
	147,306	*	O’Reilly Automotive, Inc		9,815
	757,780		Petsmart, Inc		32,319
	85,258	*	Priceline.com, Inc		38,320
	376,331		Ross Stores, Inc		29,613
	94,850	*	Sally Beauty Holdings, Inc		1,575
	571,172		Target Corp		28,011
	138,055		Tiffany & Co		8,397
	763,812		TJX Companies, Inc		42,369
	188,482		Tractor Supply Co		11,790
	48,978	*	Ulta Salon Cosmetics & Fragrance, Inc		3,048
	130,982	*	Urban Outfitters, Inc		2,924
	238,685		Williams-Sonoma, Inc		7,349
			TOTAL RETAILING		792,916
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.5%
	664,045	*	Advanced Micro Devices, Inc		3,373
	657,708		Altera Corp		20,738
	656,014		Analog Devices, Inc		20,500
	93,937		Applied Materials, Inc		972
	462,481	*	Atmel Corp		3,732
	1,172,990		Avago Technologies Ltd		38,438
	977,886		Broadcom Corp (Class A)		32,554
	8,903	*	Cree, Inc		231
	479,115		Cypress Semiconductor Corp		7,172
	64,355	*,e	First Solar, Inc		4,068
	29,110	*	Freescale Semiconductor Holdings Ltd		321
	67,531		Intersil Corp (Class A)		695
	461,882		Kla-Tencor Corp		17,681
	347,961	*	Lam Research Corp		13,216
	246,042		Linear Technology Corp		6,803
	1,331,439	*	LSI Logic Corp		6,897

251

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	887,804		Maxim Integrated Products, Inc	$	20,712
	147,687	*	MEMC Electronic Materials, Inc		774
	205,790	e	Microchip Technology, Inc		6,402
	1,325,200	*	Micron Technology, Inc		6,679
	353,800	*	Novellus Systems, Inc		9,645
	648,543	*	Nvidia Corp		8,107
	1,247,724	*	ON Semiconductor Corp		8,946
	12,500	*	PMC - Sierra, Inc		75
	42,929	*,e	Silicon Laboratories, Inc		1,439
	198,640	*	Skyworks Solutions, Inc		3,564
	728,400	*,e	Teradyne, Inc		8,020
	1,071,998		Texas Instruments, Inc		28,569
	80,741	*	Varian Semiconductor Equipment Associates, Inc		4,937
	554,474		Xilinx, Inc		15,215
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		300,475
SOFTWARE & SERVICES - 17.7%
	1,269,210		Accenture plc		66,862
	852,293	*	Adobe Systems, Inc		20,600
	530,543	*	Akamai Technologies, Inc		10,547
	272,055	*	Alliance Data Systems Corp		25,219
	417,752		Amadeus IT Holding S.A.		6,674
	356,691	*	Amdocs Ltd		9,673
	95,303	*	Ansys, Inc		4,674
	104,423	*	Ariba, Inc		2,894
	1,033,126	*	Autodesk, Inc		28,700
	536,477		Automatic Data Processing, Inc		25,295
	61,200	*	Baidu, Inc (ADR)		6,543
	189,972	*	BMC Software, Inc		7,325
	11,100	*	Booz Allen Hamilton Holding Co		165
	123,127		Broadridge Financial Solutions, Inc		2,480
	282,255	*	Cadence Design Systems, Inc		2,608
	494,675	*	Check Point Software Technologies		26,099
	203,138	*	Citrix Systems, Inc		11,077
	326,678	*	Cognizant Technology Solutions Corp (Class A)		20,483
	173,017	*	Compuware Corp		1,325
	5,640		DST Systems, Inc		247
	675,141	*	eBay, Inc		19,910
	359,401	*	Electronic Arts, Inc		7,350
	50,642	*	Equinix, Inc		4,499
	50,101		Factset Research Systems, Inc		4,457
	124,341	*	Fiserv, Inc		6,313
	16,105	*	FleetCor Technologies, Inc		423
	129,524	*	Fortinet, Inc		2,176
	316,854	*	Gartner, Inc		11,049
	105,693	*	Genpact Ltd		1,521
	85,960		Global Payments, Inc		3,472
	734,930	*	Google, Inc (Class A)		378,033
	241,800	*	IAC/InterActiveCorp		9,563
	113,195	*	Informatica Corp		4,635
	1,689,956		International Business Machines Corp		295,793
	2,697,598	*	Intuit, Inc		127,974

252

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	93,314		Lender Processing Services, Inc	$	1,277
	9,752	*,e	LinkedIn Corp		761
	236,539		Mastercard, Inc (Class A)		75,021
	104,180	e	Mercadolibre, Inc		5,600
	85,624	*	Micros Systems, Inc		3,760
	10,956,578		Microsoft Corp		272,710
	78,954	*	NeuStar, Inc (Class A)		1,985
	1,298,384	*	Nuance Communications, Inc		26,435
	8,047,344		Oracle Corp		231,282
	319,144		Paychex, Inc		8,416
	111,275	*	Rackspace Hosting, Inc		3,799
	1,762,924	*	Red Hat, Inc		74,501
	120,206	*	Rovi Corp		5,166
	100,529	*	SAIC, Inc		1,187
	383,293	*	Salesforce.com, Inc		43,803
	72,734		Solera Holdings, Inc		3,673
	1,652,118	*	Symantec Corp		26,930
	9,848	*	Synopsys, Inc		240
	182,462	*	Teradata Corp		9,767
	179,421	*	TIBCO Software, Inc		4,017
	256,699	*	VeriFone Systems, Inc		8,990
	180,872		VeriSign, Inc		5,175
	1,186,966		Visa, Inc (Class A)		101,747
	47,001	*,e	VistaPrint Ltd		1,270
	462,322	*	VMware, Inc (Class A)		37,161
	63,475	*	WebMD Health Corp (Class A)		1,914
	680,372		Western Union Co		10,403
			TOTAL SOFTWARE & SERVICES		2,123,648
TECHNOLOGY HARDWARE & EQUIPMENT - 10.0%
	57,807	*	Acme Packet, Inc		2,462
	190,333		Amphenol Corp (Class A)		7,759
	1,878,400	*	Apple, Inc		716,008
	190,204	*	Arrow Electronics, Inc		5,284
	99,536	*,e	Ciena Corp		1,115
	2,943,579	*	Dell, Inc		41,652
	57,169	*	Dolby Laboratories, Inc (Class A)		1,569
	3,830,941	*	EMC Corp		80,410
	87,652	*	F5 Networks, Inc		6,228
	172,486		Flir Systems, Inc		4,321
	9,300	*	Fusion-io, Inc		177
	38,216		Harris Corp		1,306
	29,795	*	IPG Photonics Corp		1,294
	171,979		Jabil Circuit, Inc		3,060
	244,847	*	JDS Uniphase Corp		2,441
	1,306,084	*	Juniper Networks, Inc		22,543
	93,054		National Instruments Corp		2,127
	650,545	*	NCR Corp		10,988
	1,488,763	*	NetApp, Inc		50,529
	190,784	*	Polycom, Inc		3,505
	99,891	*	QLogic Corp		1,267
	4,253,025		Qualcomm, Inc		206,824

253

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	165,845	*,e	Riverbed Technology, Inc	$	3,310
	504,605	*	SanDisk Corp		20,361
	591,800		Seagate Technology, Inc		6,084
	129,414	*	Trimble Navigation Ltd		4,342
	178,488	*	Zebra Technologies Corp (Class A)		5,522
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,212,488
TELECOMMUNICATION SERVICES - 1.4%
	1,171,962	*	American Tower Corp (Class A)		63,052
	121,210	*,e	Clearwire Corp (Class A)		282
	310,428	*	Crown Castle International Corp		12,625
	1,011,793	*	MetroPCS Communications, Inc		8,813
	161,023	*	NII Holdings, Inc (Class B)		4,340
	124,826	*	SBA Communications Corp (Class A)		4,304
	138,331	*	tw telecom inc (Class A)		2,285
	1,772,586		Verizon Communications, Inc		65,231
	299,645	e	Windstream Corp		3,494
			TOTAL TELECOMMUNICATION SERVICES		164,426
TRANSPORTATION - 1.6%
	139,464	*,e	AMR Corp		413
	176,961		CH Robinson Worldwide, Inc		12,117
	4,550		Con-Way, Inc		101
	27,349		Copa Holdings S.A. (Class A)		1,676
	1,695,932		CSX Corp		31,663
	549,543	*	Delta Air Lines, Inc		4,122
	227,186		Expeditors International Washington, Inc		9,212
	19,488		FedEx Corp		1,319
	264,360	*	Hertz Global Holdings, Inc		2,353
	95,257		J.B. Hunt Transport Services, Inc		3,441
	683,939	*	Kansas City Southern Industries, Inc		34,169
	41,082	*	Kirby Corp		2,163
	51,382		Landstar System, Inc		2,033
	97,746		Ryder System, Inc		3,666
	146,131		Southwest Airlines Co		1,175
	307,086	*	UAL Corp		5,950
	86,390		Union Pacific Corp		7,055
	1,227,330		United Parcel Service, Inc (Class B)		77,506
	90,829		UTI Worldwide, Inc		1,184
			TOTAL TRANSPORTATION		201,318
UTILITIES - 0.0%
	15,301		Aqua America, Inc		330
	55,152		ITC Holdings Corp		4,270
	13,095		National Fuel Gas Co		638
	8,709		Oneok, Inc		575
			TOTAL UTILITIES		5,813
			TOTAL COMMON STOCKS		11,973,376
			(Cost $11,432,795)

254

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE		VALUE (000)
SHORT-TERM INVESTMENTS - 1.6%
TREASURY DEBT - 0.3%
$	2,450,000		United States Treasury Bill	0.050	%	10/20/11	$	2,450
	17,600,000		United States Treasury Bill	0.041		03/01/12		17,597
	20,000,000		United States Treasury Bill	0.032		05/31/12		19,990
			TOTAL TREASURY DEBT					40,037
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.3%
	155,586,375	x	TIAA - CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust					155,586
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					155,586
			TOTAL SHORT-TERM INVESTMENTS					195,623
			(Cost $195,628)
			TOTAL INVESTMENTS - 100.9%					12,168,999
			(Cost $11,628,423)
			OTHER ASSETS & LIABILITIES, NET - (0.9)%					(108,915	)
			NET ASSETS - 100.0%				$	12,060,084

	Abbreviation(s):
ADR	American Depositary Receipt
*	Non-income producing.
^	Amount represents less than $1,000.
d	All or a portion of these securities have been segregated by the custodian to cover margin or other requirements on open futures contracts.
e	All or a portion of these securities are out on loan.
x	Investments made with cash collateral received from securities on loan.
	Cost amounts are in thousands.

255

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND
GROWTH ACCOUNT
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
September 30, 2011

COUNTRY	VALUE (000)		% OF TOTAL PORTFOLIO
DOMESTIC
UNITED STATES	$	11,860,664		97.5	%
TOTAL DOMESTIC		11,860,664		97.5
FOREIGN
ARGENTINA		5,600		0.0
BERMUDA		1,754		0.0
BRAZIL		9,166		0.1
CANADA		82,558		0.7
CHINA		10,671		0.1
GERMANY		6,562		0.1
HONG KONG		2,382		0.0
IRELAND		66,862		0.5
ISRAEL		26,099		0.2
KOREA, REPUBLIC OF		8,469		0.1
MACAU		11,322		0.1
MEXICO		4,543		0.0
NETHERLANDS		39,123		0.3
PANAMA		1,676		0.0
SPAIN		6,674		0.1
UNITED KINGDOM		24,874		0.2
TOTAL FOREIGN		308,335		2.5
TOTAL PORTFOLIO	$	12,168,999		100.0	%

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND
EQUITY INDEX ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2011

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.7%
AUTOMOBILES & COMPONENTS - 0.9%
	51,119	*	American Axle & Manufacturing Holdings, Inc	$	390
	15,097	*,e	Amerigon, Inc (Class A)		192
	65,947		Autoliv, Inc		3,198
	82,199	*	BorgWarner, Inc		4,976
	45,804		Cooper Tire & Rubber Co		499
	110,265	*	Dana Holding Corp		1,158
	7,682	*	Dorman Products, Inc		254
	16,941		Drew Industries, Inc		338
	58,919	*	Exide Technologies		236
	13,635	*	Federal Mogul Corp (Class A)		201
	2,816,300	*	Ford Motor Co		27,234
	14,261	*	Fuel Systems Solutions, Inc		274
	574,351	*	General Motors Co		11,590
	109,188		Gentex Corp		2,626
	180,426	*	Goodyear Tire & Rubber Co		1,820
	179,291		Harley-Davidson, Inc		6,155
	510,688		Johnson Controls, Inc		13,467
	79,404		Lear Corp		3,406
	36,302	*	Modine Manufacturing Co		329
	9,067	*	Motorcar Parts of America, Inc		75
	30,024	e	Spartan Motors, Inc		124
	11,969		Standard Motor Products, Inc		155
	20,247	*	Stoneridge, Inc		106
	17,815		Superior Industries International, Inc		275
	46,120	*	Tenneco, Inc		1,181
	39,362	*,e	Tesla Motors, Inc		960
	33,978	e	Thor Industries, Inc		753
	5,700	*	Tower International, Inc		59
	77,381	*	TRW Automotive Holdings Corp		2,533
	38,775	*	Visteon Corp		1,667
	24,826	*,e	Winnebago Industries, Inc		172
			TOTAL AUTOMOBILES & COMPONENTS		86,403
BANKS - 2.9%
	11,459		1st Source Corp		239
	17,104	*	1st United Bancorp, Inc		84
	17,560		Abington Bancorp, Inc		126
	3,251		Alliance Financial Corp		91
	18,171	*	Ameris Bancorp		158
	4,648	e	Ames National Corp		73
	8,700	*	Apollo Residential Mortgage		143
	6,924	e	Arrow Financial Corp		154

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	130,985		Associated Banc-Corp	$	1,218
	66,701		Astoria Financial Corp		513
	5,016	e	Bancfirst Corp		166
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		327
	2,914		Bancorp Rhode Island, Inc		124
	64,583	e	Bancorpsouth, Inc		567
	41,404		Bank Mutual Corp		108
	36,026		Bank of Hawaii Corp		1,311
	4,416	e	Bank of Kentucky Financial Corp		89
	3,864		Bank of Marin Bancorp		128
	22,826	e	Bank of the Ozarks, Inc		478
	17,629		BankFinancial Corp		117
	25,535	e	BankUnited		530
	12,480		Banner Corp		160
	528,398		BB&T Corp		11,270
	23,421	*	Beneficial Mutual Bancorp, Inc		174
	10,481		Berkshire Hills Bancorp, Inc		194
	5,599	*,e	BofI Holding, Inc		75
	21,305	e	BOK Financial Corp		999
	59,217	e	Boston Private Financial Holdings, Inc		348
	4,741	e	Bridge Bancorp, Inc		87
	7,190	*	Bridge Capital Holdings		72
	48,082		Brookline Bancorp, Inc		371
	8,337		Bryn Mawr Bank Corp		138
	5,527		Camden National Corp		151
	8,819	*	Cape Bancorp, Inc		62
	9,158	e	Capital City Bank Group, Inc		95
	246,176		CapitalSource, Inc		1,512
	128,335		Capitol Federal Financial		1,355
	18,053		Cardinal Financial Corp		156
	61,647		Cathay General Bancorp		702
	9,768	e	Center Bancorp, Inc		94
	27,645	*	Center Financial		130
	16,756		Centerstate Banks of Florida, Inc		88
	11,577	*,e	Central Pacific Financial Corp		119
	2,883		Century Bancorp, Inc		67
	18,856		Chemical Financial Corp		289
	150,892	*	CIT Group, Inc		4,583
	6,398		Citizens & Northern Corp		95
	12,921	e	City Holding Co		349
	31,313		City National Corp		1,182
	10,007	e	Clifton Savings Bancorp, Inc		92
	6,672	e	CNB Financial Corp		86
	21,290	e	CoBiz, Inc		95
	31,348		Columbia Banking System, Inc		449
	152,119		Comerica, Inc		3,494
	56,271		Commerce Bancshares, Inc		1,955
	28,981	e	Community Bank System, Inc		658
	11,562	e	Community Trust Bancorp, Inc		269
	40,227		Cullen/Frost Bankers, Inc		1,845
	67,239	e	CVB Financial Corp		517
	19,824		Dime Community Bancshares		201

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	96,753	*,e	Doral Financial Corp	$	105
	12,747	*,e	Eagle Bancorp, Inc		150
	116,790		East West Bancorp, Inc		1,741
	6,100	*,e	Encore Bancshares, Inc		65
	4,559	e	Enterprise Bancorp, Inc		56
	11,656		Enterprise Financial Services Corp		158
	8,385	e	ESB Financial Corp		92
	12,436		ESSA Bancorp, Inc		131
	7,387	e	Federal Agricultural Mortgage Corp (Class C)		141
	697,023		Fifth Third Bancorp		7,040
	7,979		Financial Institutions, Inc		114
	9,860		First Bancorp (NC)		99
	6,485	e	First Bancorp, Inc		82
	58,052		First Busey Corp		253
	4,158		First Citizens Bancshares, Inc (Class A)		597
	84,375	e	First Commonwealth Financial Corp		312
	12,139		First Community Bancshares, Inc		124
	6,200	*	First Connecticut Bancorp		70
	7,726	*	First Defiance Financial Corp		104
	44,691		First Financial Bancorp		617
	23,120	e	First Financial Bankshares, Inc		605
	8,954		First Financial Corp		246
	12,966		First Financial Holdings, Inc		52
	202,896		First Horizon National Corp		1,209
	9,546		First Interstate Bancsystem, Inc		102
	19,481		First Merchants Corp		137
	57,533	e	First Midwest Bancorp, Inc		421
	232,398		First Niagara Financial Group, Inc		2,126
	4,191		First of Long Island Corp		95
	6,248		First Pactrust Bancorp, Inc		71
	56,357	*	First Republic Bank		1,305
	82,846		FirstMerit Corp		941
	150,505	*	Flagstar Bancorp, Inc		74
	19,779		Flushing Financial Corp		214
	96,816	e	FNB Corp		830
	11,394		Fox Chase Bancorp, Inc		144
	10,443	*	Franklin Financial Corp		115
	152,821		Fulton Financial Corp		1,169
	8,476	e	German American Bancorp, Inc		137
	56,600		Glacier Bancorp, Inc		530
	7,809		Great Southern Bancorp, Inc		131
	7,762	*,e	Hampton Roads Bankshares, Inc		36
	58,181		Hancock Holding Co		1,558
	112,891	*,e	Hanmi Financial Corp		94
	10,342		Heartland Financial USA, Inc		147
	15,254	*,e	Heritage Commerce Corp		59
	11,990		Heritage Financial Corp		132
	14,896		Home Bancshares, Inc		316
	12,641		Home Federal Bancorp, Inc		99
	329,334		Hudson City Bancorp, Inc		1,864
	10,014		Hudson Valley Holding Corp		175
	664,830		Huntington Bancshares, Inc		3,191

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	22,391		IBERIABANK Corp	$	1,054
	17,904	e	Independent Bank Corp		389
	40,567		International Bancshares Corp		533
	37,852	*	Investors Bancorp, Inc		478
	14,732		Kearny Financial Corp		130
	728,383		Keycorp		4,319
	14,481		Lakeland Bancorp, Inc		113
	12,420		Lakeland Financial Corp		257
	94,845		M&T Bank Corp		6,630
	11,504		MainSource Financial Group, Inc		100
	41,491		MB Financial, Inc		611
	3,784	e	Merchants Bancshares, Inc		101
	7,250	*	Meridian Interstate Bancorp, Inc		79
	118,224	*	MGIC Investment Corp		221
	3,556	e	Midsouth Bancorp, Inc		38
	25,640	*	Nara Bancorp, Inc		156
	5,351	e	National Bankshares, Inc		129
	101,297		National Penn Bancshares, Inc		710
	27,027		NBT Bancorp, Inc		503
	331,783	e	New York Community Bancorp, Inc		3,948
	14,313	e	Northfield Bancorp, Inc		190
	81,183		Northwest Bancshares, Inc		967
	10,808		OceanFirst Financial Corp		126
	57,265	*	Ocwen Financial Corp		756
	76,288		Old National Bancorp		711
	9,164	*	OmniAmerican Bancorp, Inc		125
	33,903		Oriental Financial Group, Inc		328
	45,254		Oritani Financial Corp		582
	3,841	e	Orrstown Financial Services, Inc		49
	2,800	*	Pacific Capital Bancorp		71
	14,467		Pacific Continental Corp		103
	22,250	e	PacWest Bancorp		310
	11,191	e	Park National Corp		592
	22,441	*,e	Park Sterling Bank		77
	2,964	e	Penns Woods Bancorp, Inc		97
	10,509	*	Pennsylvania Commerce Bancorp, Inc		91
	6,808		Peoples Bancorp, Inc		75
	278,935		People’s United Financial, Inc		3,180
	25,469	*,e	Pinnacle Financial Partners, Inc		279
	112,879	*,e	PMI Group, Inc		23
	400,312		PNC Financial Services Group, Inc		19,290
	772,337	*	Popular, Inc		1,159
	45,847		PrivateBancorp, Inc		345
	35,938	e	Prosperity Bancshares, Inc		1,174
	45,191		Provident Financial Services, Inc		486
	30,181		Provident New York Bancorp		176
	100,581	e	Radian Group, Inc		220
	949,890		Regions Financial Corp		3,163
	19,501	e	Renasant Corp		248
	6,104		Republic Bancorp, Inc (Class A)		108
	22,920		Rockville Financial, Inc		217
	7,271		Roma Financial Corp		59

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,998	e	S&T Bancorp, Inc	$	339
	8,198	e	S.Y. Bancorp, Inc		153
	18,232		Sandy Spring Bancorp, Inc		267
	9,604		SCBT Financial Corp		237
	55,743	*	Seacoast Banking Corp of Florida		82
	8,919		Sierra Bancorp		82
	34,819	*	Signature Bank		1,662
	13,207		Simmons First National Corp (Class A)		287
	11,606	e	Southside Bancshares, Inc		209
	14,769	*,e	Southwest Bancorp, Inc		62
	10,282	e	State Bancorp, Inc		109
	24,453	*	State Bank & Trust Co		309
	16,183		StellarOne Corp		161
	27,752		Sterling Bancorp		201
	20,641	*,e	Sterling Financial Corp		256
	7,140		Suffolk Bancorp		59
	29,193	*,e	Sun Bancorp, Inc		77
	410,984		SunTrust Banks, Inc		7,377
	102,135	e	Susquehanna Bancshares, Inc		559
	32,913	*	SVB Financial Group		1,218
	597,443	e	Synovus Financial Corp		639
	7,584	*,e	Taylor Capital Group, Inc		49
	122,960		TCF Financial Corp		1,126
	9,400		Territorial Bancorp, Inc		180
	31,378	*	Texas Capital Bancshares, Inc		717
	52,101	*	TFS Financial Corp		424
	16,995	*	The Bancorp, Inc		122
	7,054	e	Tompkins Trustco, Inc		252
	8,003		Tower Bancorp, Inc		168
	17,850	e	TowneBank		203
	9,919	e	Trico Bancshares		122
	62,026		Trustco Bank Corp NY		277
	49,168	e	Trustmark Corp		892
	24,801		UMB Financial Corp		796
	91,424		Umpqua Holdings Corp		804
	14,087		Union Bankshares Corp		151
	33,421	e	United Bankshares, Inc		671
	15,882	*,e	United Community Banks, Inc		135
	15,445		United Financial Bancorp, Inc		211
	12,704		Univest Corp of Pennsylvania		169
	1,454,613		US Bancorp		34,241
	130,458	e	Valley National Bancorp		1,382
	26,270		ViewPoint Financial Group		301
	14,744	*	Virginia Commerce Bancorp		87
	7,900	*	Walker & Dunlop, Inc		92
	12,184		Washington Banking Co		119
	86,794		Washington Federal, Inc		1,106
	10,818		Washington Trust Bancorp, Inc		214
	52,669		Webster Financial Corp		806
	3,717,379		Wells Fargo & Co		89,662
	19,012		WesBanco, Inc		329
	11,970		West Bancorporation, Inc		102

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,484	*,e	West Coast Bancorp	$	203
	21,501	e	Westamerica Bancorporation		824
	49,360	*	Western Alliance Bancorp		270
	23,121		Westfield Financial, Inc		152
	44,266	*	Wilshire Bancorp, Inc		121
	26,249	e	Wintrust Financial Corp		677
	4,467		WSFS Financial Corp		141
	139,772		Zions Bancorporation		1,967
			TOTAL BANKS		282,184
CAPITAL GOODS - 7.9%
	32,404	*,e	3D Systems Corp		453
	536,137		3M Co		38,489
	29,148		A.O. Smith Corp		934
	54,877	*,e	A123 Systems, Inc		189
	13,279	e	Aaon, Inc		209
	29,552		AAR Corp		493
	30,986	*	Accuride Corp		159
	17,815		Aceto Corp		94
	62,960	*,e	Active Power, Inc		81
	52,376		Actuant Corp (Class A)		1,034
	31,651		Acuity Brands, Inc		1,141
	90,136	*	Aecom Technology Corp		1,593
	14,335	*,e	Aerovironment, Inc		404
	71,219	*	AGCO Corp		2,462
	26,678	*,e	Air Lease Corp		512
	43,373		Aircastle Ltd		413
	4,490		Alamo Group, Inc		93
	23,047		Albany International Corp (Class A)		421
	23,985		Alliant Techsystems, Inc		1,307
	18,705	*	Altra Holdings, Inc		216
	13,776	*,e	Ameresco, Inc		140
	7,032	*	American Railcar Industries, Inc		108
	7,536		American Science & Engineering, Inc		460
	35,994	*,e	American Superconductor Corp		141
	8,518		American Woodmark Corp		103
	7,062		Ameron International Corp		600
	123,000		Ametek, Inc		4,055
	8,632		Ampco-Pittsburgh Corp		177
	25,458		Apogee Enterprises, Inc		219
	32,556		Applied Industrial Technologies, Inc		884
	5,631	*	Argan, Inc		57
	16,319		Armstrong World Industries, Inc		562
	73,192	*	ArvinMeritor, Inc		517
	15,638	*	Astec Industries, Inc		458
	7,763	*	Astronics Corp		219
	10,559		AZZ, Inc		409
	90,144	*	Babcock & Wilcox Co		1,762
	13,564	e	Badger Meter, Inc		392
	37,827		Barnes Group, Inc		728
	74,030	*	BE Aerospace, Inc		2,451
	35,044	*	Beacon Roofing Supply, Inc		560

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	36,981		Belden CDT, Inc	$	954
	8,617	*	Berliner Communications, Inc		43
	35,059	*	Blount International, Inc		468
	558,436		Boeing Co		33,791
	37,869		Brady Corp (Class A)		1,001
	39,839		Briggs & Stratton Corp		538
	71,104	*,e	Broadwind Energy, Inc		23
	22,099	*,e	Builders FirstSource, Inc		28
	9,868	*	CAI International, Inc		116
	177,093	*,e	Capstone Turbine Corp		177
	46,691		Carlisle Cos, Inc		1,489
	4,845		Cascade Corp		162
	486,312		Caterpillar, Inc		35,908
	19,382	*	Ceradyne, Inc		521
	21,260	*	Chart Industries, Inc		897
	76,040		Chicago Bridge & Iron Co NV		2,177
	12,832		CIRCOR International, Inc		377
	38,968		Clarcor, Inc		1,612
	19,959	*	CNH Global NV		524
	6,482	*,e	Coleman Cable, Inc		55
	18,683	*,e	Colfax Corp		379
	12,813	*	Columbus McKinnon Corp		140
	33,040		Comfort Systems USA, Inc		275
	18,507	*	Commercial Vehicle Group, Inc		122
	124,177		Cooper Industries plc		5,727
	38,179		Crane Co		1,363
	12,848		Cubic Corp		502
	148,143		Cummins, Inc		12,097
	35,284		Curtiss-Wright Corp		1,017
	413,059		Danaher Corp		17,324
	316,133		Deere & Co		20,412
	26,753	*	DigitalGlobe, Inc		520
	58,497		Donaldson Co, Inc		3,206
	14,128		Douglas Dynamics, Inc		181
	140,993		Dover Corp		6,570
	7,637		Ducommun, Inc		114
	5,160	*	DXP Enterprises, Inc		97
	22,876	*	Dycom Industries, Inc		350
	12,440		Dynamic Materials Corp		196
	257,797		Eaton Corp		9,152
	50,074	*	EMCOR Group, Inc		1,018
	567,589		Emerson Electric Co		23,447
	15,305	e	Encore Wire Corp		315
	62,216	*,e	Ener1, Inc		9
	25,675	*,e	Energy Recovery, Inc		77
	37,162	*	EnerSys		744
	15,889	*	EnPro Industries, Inc		472
	20,938		ESCO Technologies, Inc		534
	13,418	*,e	Essex Rental Corp		33
	22,100	*	Esterline Technologies Corp		1,146
	222,424	e	Fastenal Co		7,401
	50,117		Federal Signal Corp		222

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	26,655	*	Flow International Corp	$	59
	42,235		Flowserve Corp		3,125
	131,109		Fluor Corp		6,104
	56,935	*	Force Protection, Inc		219
	19,315		Franklin Electric Co, Inc		701
	12,439	*	Freightcar America, Inc		179
	89,877	*,e	FuelCell Energy, Inc		75
	25,764	*	Furmanite Corp		139
	39,732		Gardner Denver, Inc		2,525
	35,871		GATX Corp		1,112
	42,477	*,e	GenCorp, Inc		191
	18,874	*	Generac Holdings, Inc		355
	40,126	*	General Cable Corp		937
	250,762		General Dynamics Corp		14,266
	8,016,754		General Electric Co		122,175
	16,043	*	GeoEye, Inc		455
	20,138	*	Gibraltar Industries, Inc		164
	12,250	*,e	Global Power Equipment Group, Inc		285
	94,487		Goodrich Corp		11,403
	12,953		Gorman-Rupp Co		320
	46,150		Graco, Inc		1,576
	93,433	*	GrafTech International Ltd		1,187
	12,308		Graham Corp		205
	26,732		Granite Construction, Inc		502
	44,924		Great Lakes Dredge & Dock Corp		183
	10,367	*	Greenbrier Cos, Inc		121
	37,869	*	Griffon Corp		310
	21,180	*	H&E Equipment Services, Inc		175
	61,544		Harsco Corp		1,193
	31,872	e	Heico Corp		1,569
	74,803	*	Hexcel Corp		1,658
	593,599		Honeywell International, Inc		26,065
	12,024	e	Houston Wire & Cable Co		138
	45,393		Hubbell, Inc (Class B)		2,249
	35,859	*	Huntington Ingalls		872
	4,796	*	Hurco Cos, Inc		97
	62,789		IDEX Corp		1,957
	39,772	*	II-VI, Inc		696
	336,453		Illinois Tool Works, Inc		13,996
	248,148		Ingersoll-Rand plc		6,970
	28,439	*	Insituform Technologies, Inc (Class A)		329
	10,094		Insteel Industries, Inc		102
	27,412	*	Interline Brands, Inc		353
	139,194		ITT Industries, Inc		5,846
	96,369	*	Jacobs Engineering Group, Inc		3,112
	20,027		John Bean Technologies Corp		286
	79,748		Joy Global, Inc		4,975
	9,545	*	Kadant, Inc		170
	21,747		Kaman Corp		606
	25,042		Kaydon Corp		718
	115,976		KBR, Inc		2,741
	62,712		Kennametal, Inc		2,053

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,447	*,e	KEYW Holding Corp	$	103
	24,942	*,e	Kratos Defense & Security Solutions, Inc		168
	79,754		L-3 Communications Holdings, Inc		4,942
	3,000		Lawson Products, Inc		41
	13,874	*	Layne Christensen Co		320
	7,262		LB Foster Co (Class A)		161
	37,224		Lennox International, Inc		960
	65,044		Lincoln Electric Holdings, Inc		1,887
	10,010	e	Lindsay Manufacturing Co		539
	6,398	*	LMI Aerospace, Inc		109
	215,979		Lockheed Martin Corp		15,689
	12,960		LSI Industries, Inc		81
	12,907	*	Lydall, Inc		115
	87,671	e	Manitowoc Co, Inc		588
	276,648		Masco Corp		1,969
	43,578	*	Mastec, Inc		767
	10,825		Met-Pro Corp		93
	7,039	*	Michael Baker Corp		135
	14,602	*	Middleby Corp		1,029
	7,280		Miller Industries, Inc		126
	32,829	*	Moog, Inc (Class A)		1,071
	33,838		MSC Industrial Direct Co (Class A)		1,910
	28,928		Mueller Industries, Inc		1,116
	118,277	e	Mueller Water Products, Inc (Class A)		293
	13,261	*	MYR Group, Inc		234
	4,424		Nacco Industries, Inc (Class A)		280
	3,938	e	National Presto Industries, Inc		342
	54,812	*	Navistar International Corp		1,761
	19,754	*	NCI Building Systems, Inc		149
	12,459	*	NN, Inc		63
	46,455		Nordson Corp		1,846
	209,761		Northrop Grumman Corp		10,941
	8,845	*	Northwest Pipe Co		179
	44,747	*	Orbital Sciences Corp		573
	19,593	*	Orion Marine Group, Inc		113
	69,175	*	Oshkosh Truck Corp		1,089
	86,991	*	Owens Corning, Inc		1,885
	276,402		Paccar, Inc		9,348
	88,975		Pall Corp		3,773
	122,137		Parker Hannifin Corp		7,711
	76,198		Pentair, Inc		2,439
	20,289		Perini Corp		233
	12,323	*	Pike Electric Corp		83
	13,529	*,e	PMFG, Inc		213
	29,527	*	Polypore International, Inc		1,669
	5,761	*	Powell Industries, Inc		178
	12,071	*,e	PowerSecure International, Inc		57
	108,427		Precision Castparts Corp		16,856
	1,801	e	Preformed Line Products Co		82
	19,995		Primoris Services Corp		209
	28,579		Quanex Building Products Corp		313
	162,009	*	Quanta Services, Inc		3,044

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	13,791		Raven Industries, Inc	$	665
	267,449		Raytheon Co		10,931
	16,219	*	RBC Bearings, Inc		551
	29,618		Regal-Beloit Corp		1,344
	29,287		Robbins & Myers, Inc		1,017
	109,940		Rockwell Automation, Inc		6,157
	116,117		Rockwell Collins, Inc		6,126
	71,848		Roper Industries, Inc		4,951
	50,633	*	RSC Holdings, Inc		361
	24,579	*	Rush Enterprises, Inc (Class A)		348
	40,673	*,e	SatCon Technology Corp		39
	8,467	*	Sauer-Danfoss, Inc		245
	240		Seaboard Corp		432
	8,300	e	SeaCube Container Leasing Ltd		101
	55,138	*	Shaw Group, Inc		1,199
	31,950		Simpson Manufacturing Co, Inc		797
	44,614		Snap-On, Inc		1,981
	83,416	*	Spirit Aerosystems Holdings, Inc (Class A)		1,330
	37,552		SPX Corp		1,701
	11,927		Standex International Corp		371
	124,240		Stanley Works		6,100
	12,518	*	Sterling Construction Co, Inc		140
	15,189		Sun Hydraulics Corp		310
	15,435	e	TAL International Group, Inc		385
	44,785	*,e	Taser International, Inc		193
	10,545	*	Tecumseh Products Co (Class A)		77
	28,168	*	Teledyne Technologies, Inc		1,376
	14,645		Tennant Co		518
	83,491	*	Terex Corp		857
	7,088		Textainer Group Holdings Ltd		144
	208,523		Textron, Inc		3,678
	7,771	*	Thermon Group Holdings		107
	40,166	*	Thomas & Betts Corp		1,603
	66,676		Timken Co		2,188
	32,571	e	Titan International, Inc		489
	11,613	*	Titan Machinery, Inc		208
	22,572		Toro Co		1,112
	37,710	*	TransDigm Group, Inc		3,080
	19,671		Tredegar Corp		292
	13,203	*,e	Trex Co, Inc		212
	19,750	*	Trimas Corp		293
	61,064		Trinity Industries, Inc		1,307
	28,842		Triumph Group, Inc		1,406
	6,504		Twin Disc, Inc		173
	354,409		Tyco International Ltd		14,442
	45,976	*,e	United Rentals, Inc		774
	690,777		United Technologies Corp		48,602
	14,766		Universal Forest Products, Inc		355
	60,216	*	URS Corp		1,786
	51,472	*,e	USG Corp		346
	47,033	*,e	Valence Technology, Inc		49
	16,747		Valmont Industries, Inc		1,305

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,845		Vicor Corp	$	112
	42,855		W.W. Grainger, Inc		6,409
	39,545	*	Wabash National Corp		189
	51,712	*	WABCO Holdings, Inc		1,958
	22,186	e	Watsco, Inc		1,134
	23,144	e	Watts Water Technologies, Inc (Class A)		617
	32,103	*	WESCO International, Inc		1,077
	35,290		Westinghouse Air Brake Technologies Corp		1,866
	46,990		Woodward Governor Co		1,288
	5,984	*,e	Xerium Technologies, Inc		63
			TOTAL CAPITAL GOODS		758,663
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
	37,566		ABM Industries, Inc		716
	32,312	*	Acacia Research (Acacia Technologies)		1,163
	46,006	*	ACCO Brands Corp		219
	16,355	e	Administaff, Inc		364
	11,265	*	Advisory Board Co		727
	14,202		American Ecology Corp		220
	26,021	*	American Reprographics Co		87
	20,202	*	APAC Customer Services, Inc		172
	7,698	*	AT Cross Co		87
	81,325		Avery Dennison Corp		2,040
	6,166		Barrett Business Services, Inc		86
	35,828		Brink’s Co		835
	19,056	*	Casella Waste Systems, Inc (Class A)		100
	41,673	*,e	CBIZ, Inc		275
	7,981		CDI Corp		85
	38,005	*,e	Cenveo, Inc		114
	87,464		Cintas Corp		2,461
	35,102	*	Clean Harbors, Inc		1,801
	8,210	*	Consolidated Graphics, Inc		300
	61,340	*,e	Coolbrands International, Inc		248
	44,329	*	Copart, Inc		1,734
	27,057		Corporate Executive Board Co		806
	82,362	*	Corrections Corp of America		1,869
	19,267	*,e	CoStar Group, Inc		1,001
	6,267		Courier Corp		41
	92,927		Covanta Holding Corp		1,412
	8,400	*	CRA International, Inc		168
	37,676		Deluxe Corp		701
	23,101	*	Dolan Media Co		208
	37,542		Dun & Bradstreet Corp		2,300
	67,718	*	EnergySolutions, Inc		239
	20,747	*,e	EnerNOC, Inc		187
	17,307		Ennis, Inc		226
	94,166		Equifax, Inc		2,895
	11,236	*	Exponent, Inc		464
	9,375	*	Franklin Covey Co		71
	32,036	*,e	FTI Consulting, Inc		1,179
	12,288	*	Fuel Tech, Inc		72
	15,088		G & K Services, Inc (Class A)		385

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	49,785	*	Geo Group, Inc	$	924
	12,104	*	GP Strategies Corp		121
	49,713		Healthcare Services Group		802
	14,300		Heidrick & Struggles International, Inc		235
	3,302	*	Heritage-Crystal Clean, Inc		60
	43,782		Herman Miller, Inc		782
	23,633	*,e	Higher One Holdings, Inc		385
	17,074	*	Hill International, Inc		80
	33,809	e	HNI Corp		647
	24,166	*	Hudson Highland Group, Inc		83
	16,505	*	Huron Consulting Group, Inc		514
	13,014	*	ICF International, Inc		245
	114,792	*,e	ICO Global Communications Holdings Ltd		258
	37,578	*	IHS, Inc (Class A)		2,811
	22,974	*,e	Innerworkings, Inc		180
	38,561		Interface, Inc (Class A)		457
	6,998		Intersections, Inc		90
	137,601	e	Iron Mountain, Inc		4,351
	21,500	*	KAR Auction Services, Inc		260
	20,372		Kelly Services, Inc (Class A)		232
	21,985	*	Kforce, Inc		216
	18,600		Kimball International, Inc (Class B)		90
	35,963		Knoll, Inc		493
	34,304	*	Korn/Ferry International		418
	8,335	*	M&F Worldwide Corp		205
	63,464		Manpower, Inc		2,134
	17,708		McGrath RentCorp		421
	39,317	*	Metalico, Inc		153
	21,996		Mine Safety Appliances Co		593
	13,300	*	Mistras Group, Inc		234
	28,189	*	Mobile Mini, Inc		463
	8,734		Multi-Color Corp		197
	40,393	*	Navigant Consulting, Inc		374
	58,900	*	Nielsen Holdings NV		1,536
	50,328	*,e	Odyssey Marine Exploration, Inc		124
	25,372	*	On Assignment, Inc		179
	139,284	e	Pitney Bowes, Inc		2,619
	19,286	e	Quad		348
	158,991		R.R. Donnelley & Sons Co		2,245
	240,647		Republic Services, Inc		6,754
	32,857		Resources Connection, Inc		321
	112,120		Robert Half International, Inc		2,379
	50,683		Rollins, Inc		948
	7,412	*	RPX Corp		154
	10,767		Schawk, Inc (Class A)		106
	14,249	*	School Specialty, Inc		102
	12,140	*	Standard Parking Corp		190
	54,705	e	Steelcase, Inc (Class A)		345
	64,756	*	Stericycle, Inc		5,228
	31,978	*	SYKES Enterprises, Inc		478
	13,336	*	Team, Inc		280
	47,935	*	Tetra Tech, Inc		898

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,816	*	TMS International Corp	$	71
	43,886		Towers Watson & Co		2,624
	13,579	*	TRC Cos, Inc		41
	37,265	*	TrueBlue, Inc		422
	11,503		Unifirst Corp		521
	36,394		United Stationers, Inc		992
	87,867	*	Verisk Analytics, Inc		3,055
	15,178		Viad Corp		258
	2,793		VSE Corp		72
	83,921	e	Waste Connections, Inc		2,838
	360,208	e	Waste Management, Inc		11,729
	12,744	*	WCA Waste Corp		54
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		95,477
CONSUMER DURABLES & APPAREL - 1.4%
	30,538	e	American Greetings Corp (Class A)		565
	9,523	*	Arctic Cat, Inc		138
	45,763	*	Ascena Retail Group, Inc		1,239
	58,119	*,e	Beazer Homes USA, Inc		88
	4,923		Blyth, Inc		273
	60,835	e	Brunswick Corp		854
	51,179	e	Callaway Golf Co		265
	37,626	*	Carter’s, Inc		1,149
	4,557	*	Cavco Industries, Inc		157
	5,581	e	Cherokee, Inc		72
	31,639	*,e	Clarus Corp		206
	222,939		Coach, Inc		11,554
	9,339	e	Columbia Sportswear Co		433
	64,294	*	CROCS, Inc		1,522
	5,480		CSS Industries, Inc		91
	29,784	*	Deckers Outdoor Corp		2,778
	4,329	*	Delta Apparel, Inc		68
	215,214		DR Horton, Inc		1,946
	204,406	*,e	Eastman Kodak Co		159
	18,783	e	Ethan Allen Interiors, Inc		256
	117,473		Fortune Brands, Inc		6,354
	39,142	*	Fossil, Inc		3,173
	34,198	*	Furniture Brands International, Inc		70
	82,384	e	Garmin Ltd		2,617
	13,268	*	G-III Apparel Group Ltd		303
	73,677	*	Hanesbrands, Inc		1,843
	53,605		Harman International Industries, Inc		1,532
	90,667		Hasbro, Inc		2,957
	23,782	*	Helen of Troy Ltd		597
	49,581	*,e	Hovnanian Enterprises, Inc (Class A)		60
	54,965	*	Iconix Brand Group, Inc		868
	18,236	*,e	iRobot Corp		459
	24,481	e	Jakks Pacific, Inc		464
	71,707		Jarden Corp		2,026
	3,583	*	Johnson Outdoors, Inc		55
	66,643		Jones Apparel Group, Inc		614
	58,687	e	KB Home		344

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	6,203	*	Kenneth Cole Productions, Inc (Class A)	$	67
	19,366	*,e	K-Swiss, Inc (Class A)		82
	39,237	*	La-Z-Boy, Inc		291
	34,167	*	Leapfrog Enterprises, Inc		115
	109,499		Leggett & Platt, Inc		2,167
	122,890		Lennar Corp (Class A)		1,664
	12,366	*	Libbey, Inc		130
	7,210		Lifetime Brands, Inc		70
	71,814	*,e	Liz Claiborne, Inc		359
	16,303	*	M/I Homes, Inc		98
	17,427	*	Maidenform Brands, Inc		408
	8,407	*,e	Marine Products Corp		29
	262,506		Mattel, Inc		6,795
	29,150	e	MDC Holdings, Inc		494
	24,046	*	Meritage Homes Corp		364
	43,299	*	Mohawk Industries, Inc		1,858
	12,667		Movado Group, Inc		154
	221,507		Newell Rubbermaid, Inc		2,629
	270,881		Nike, Inc (Class B)		23,162
	4,055	*	NVR, Inc		2,449
	10,106		Oxford Industries, Inc		347
	8,860	*	Perry Ellis International, Inc		167
	43,642		Phillips-Van Heusen Corp		2,542
	48,524		Polaris Industries, Inc		2,425
	38,375		Pool Corp		1,005
	256,906	*	Pulte Homes, Inc		1,015
	107,027	*	Quiksilver, Inc		326
	45,710		Ralph Lauren Corp		5,929
	6,477		RG Barry Corp		69
	35,106	e	Ryland Group, Inc		374
	47,340	*,e	Sealy Corp		70
	27,339	*	Skechers U.S.A., Inc (Class A)		384
	7,200	*	Skullcandy, Inc		102
	7,407		Skyline Corp		71
	52,271	*	Smith & Wesson Holding Corp		132
	70,229	*,e	Standard-Pacific Corp		173
	4,356	*	Steinway Musical Instruments, Inc		94
	26,200	*	Steven Madden Ltd		789
	14,503	e	Sturm Ruger & Co, Inc		377
	8,138	*	Summer Infant, Inc		54
	50,128	*	Tempur-Pedic International, Inc		2,637
	109,135	*	Toll Brothers, Inc		1,575
	19,300	*	True Religion Apparel, Inc		520
	47,753		Tupperware Corp		2,566
	27,184	*,e	Under Armour, Inc (Class A)		1,805
	10,905	*	Unifi, Inc		89
	11,370	*	Universal Electronics, Inc		186
	12,069	*,e	Vera Bradley, Inc		435
	66,632		VF Corp		8,097
	32,732	*	Warnaco Group, Inc		1,509
	5,214		Weyco Group, Inc		116
	57,906		Whirlpool Corp		2,890

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	38,905		Wolverine World Wide, Inc	$	1,294
	15,230	*,e	Zagg, Inc		151
			TOTAL CONSUMER DURABLES & APPAREL		131,849
CONSUMER SERVICES - 2.3%
	18,260	*	AFC Enterprises		216
	14,656		Ambassadors Group, Inc		84
	13,862	*,e	American Public Education, Inc		471
	24,907		Ameristar Casinos, Inc		400
	92,271	*	Apollo Group, Inc (Class A)		3,656
	5,600	*,e	Archipelago Learning, Inc		47
	10,098	*	Ascent Media Corp (Series A)		397
	33,030	*	Bally Technologies, Inc		891
	10,282	*,e	Benihana, Inc		89
	17,427	*	BJ’s Restaurants, Inc		769
	24,666		Bob Evans Farms, Inc		703
	35,903	*,e	Boyd Gaming Corp		176
	14,947	*	Bravo Brio Restaurant Group, Inc		249
	14,051	*,e	Bridgepoint Education, Inc		245
	65,006		Brinker International, Inc		1,360
	13,602	*	Buffalo Wild Wings, Inc		813
	12,339	*	Cambium Learning Group, Inc		37
	12,593	*	Capella Education Co		357
	46,334	*,e	Career Education Corp		605
	5,895	*,e	Caribou Coffee Co, Inc		70
	323,451		Carnival Corp		9,801
	8,099	*	Carrols Restaurant Group, Inc		72
	17,289		CBRL Group, Inc		693
	15,042		CEC Entertainment, Inc		428
	46,024	*,e	Cheesecake Factory		1,134
	23,322	*	Chipotle Mexican Grill, Inc (Class A)		7,065
	21,525		Choice Hotels International, Inc		640
	9,609		Churchill Downs, Inc		375
	23,500	*,e	Coinstar, Inc		940
	59,209	*,e	Corinthian Colleges, Inc		92
	104,522		Darden Restaurants, Inc		4,468
	75,312	*	Denny’s Corp		251
	51,986		DeVry, Inc		1,922
	11,939	*,e	DineEquity, Inc		460
	47,224	*	Domino’s Pizza, Inc		1,287
	18,900	*	Dunkin Brands Group, Inc		524
	30,412	*,e	Education Management Corp		451
	4,221		Einstein Noah Restaurant Group, Inc		54
	27,229	*,e	Gaylord Entertainment Co		527
	24,016	*	Grand Canyon Education, Inc		388
	228,332		H&R Block, Inc		3,040
	47,975		Hillenbrand, Inc		883
	33,800	*	Hyatt Hotels Corp		1,060
	230,043		International Game Technology		3,343
	22,405		International Speedway Corp (Class A)		512
	34,104	*	Interval Leisure Group, Inc		454
	15,534	*	Isle of Capri Casinos, Inc		75

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	21,273	*,e	ITT Educational Services, Inc	$	1,225
	39,870	*	Jack in the Box, Inc		794
	47,403	*,e	Jamba, Inc		61
	18,366	*,e	K12, Inc		468
	39,822	*	Krispy Kreme Doughnuts, Inc		272
	296,147	*	Las Vegas Sands Corp		11,354
	31,445	*,e	Life Time Fitness, Inc		1,159
	17,103		Lincoln Educational Services Corp		138
	13,766	*,e	Luby’s, Inc		56
	8,861		Mac-Gray Corp		114
	14,891		Marcus Corp		148
	212,861		Marriott International, Inc (Class A)		5,798
	23,085		Matthews International Corp (Class A)		710
	11,950	*	McCormick & Schmick’s Seafood Restaurants, Inc		83
	783,078		McDonald’s Corp		68,770
	262,267	*	MGM Mirage		2,436
	8,692	*	Monarch Casino & Resort, Inc		85
	23,956	*,e	Morgans Hotel Group Co		143
	20,438	*	Multimedia Games, Inc		83
	5,638		National American University Holdings, Inc		40
	14,289	*,e	O’Charleys, Inc		85
	78,277	*	Orient-Express Hotels Ltd (Class A)		541
	21,333	*	Panera Bread Co (Class A)		2,217
	14,983	*	Papa John’s International, Inc		455
	8,992	*,e	Peet’s Coffee & Tea, Inc		500
	51,627	*	Penn National Gaming, Inc		1,719
	18,084	e	PF Chang’s China Bistro, Inc		493
	48,180	*	Pinnacle Entertainment, Inc		437
	9,873	*	Red Lion Hotels Corp		66
	11,853	*	Red Robin Gourmet Burgers, Inc		286
	44,951		Regis Corp		633
	101,674		Royal Caribbean Cruises Ltd		2,200
	50,005	*	Ruby Tuesday, Inc		358
	26,831	*	Ruth’s Chris Steak House, Inc		115
	49,874	*	Scientific Games Corp (Class A)		355
	183,181		Service Corp International		1,678
	44,601	*	Shuffle Master, Inc		375
	31,480	e	Six Flags Entertainment Corp		873
	45,772	*	Sonic Corp		324
	51,448		Sotheby’s (Class A)		1,418
	9,984		Speedway Motorsports, Inc		121
	567,253		Starbucks Corp		21,153
	147,494		Starwood Hotels & Resorts Worldwide, Inc		5,726
	958	*	Steak N Shake Co		284
	11,970	*	Steiner Leisure Ltd		488
	68,986		Stewart Enterprises, Inc (Class A)		410
	9,323	e	Strayer Education, Inc		715
	42,904	e	Texas Roadhouse, Inc (Class A)		567
	16,126	*	Town Sports International Holdings, Inc		117
	15,190		Universal Technical Institute, Inc		206
	27,599	e	Vail Resorts, Inc		1,043
	22,133	e	Weight Watchers International, Inc		1,289

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	241,251		Wendy’s	$	1,107
	43,711	*	WMS Industries, Inc		769
	128,938		Wyndham Worldwide Corp		3,676
	59,484		Wynn Resorts Ltd		6,845
	351,395		Yum! Brands, Inc		17,355
			TOTAL CONSUMER SERVICES		223,510
DIVERSIFIED FINANCIALS - 5.4%
	36,918		Advance America Cash Advance Centers, Inc		272
	39,037	*	Affiliated Managers Group, Inc		3,047
	270,566	*	American Capital Ltd		1,845
	794,899		American Express Co		35,692
	183,441		Ameriprise Financial, Inc		7,220
	149,594		Apollo Investment Corp		1,125
	147,601		Ares Capital Corp		2,032
	21,300	e	Artio Global Investors, Inc		170
	7,646,383		Bank of America Corp		46,796
	941,975		Bank of New York Mellon Corp		17,510
	58,435		BGC Partners, Inc (Class A)		352
	54,667	e	BlackRock Kelso Capital Corp		399
	65,468		BlackRock, Inc		9,690
	77,753	*,e	Broadpoint Securities Group, Inc		93
	16,951		Calamos Asset Management, Inc (Class A)		170
	346,072		Capital One Financial Corp		13,715
	2,167		Capital Southwest Corp		160
	22,738		Cash America International, Inc		1,163
	35,130		CBOE Holdings, Inc		860
	791,596		Charles Schwab Corp		8,921
	2,192,977		Citigroup, Inc		56,184
	50,689		CME Group, Inc		12,490
	12,285	e	Cohen & Steers, Inc		353
	30,640		Compass Diversified Trust		373
	50,765	*,e	Cowen Group, Inc		138
	5,106	*	Credit Acceptance Corp		329
	9,816	*,e	Deerfield Capital Corp		43
	1,420		Diamond Hill Investment Group, Inc		99
	414,926		Discover Financial Services		9,518
	33,079	*	Dollar Financial Corp		723
	21,313		Duff & Phelps Corp		227
	191,552	*	E*Trade Financial Corp		1,745
	92,658		Eaton Vance Corp		2,063
	11,162	*	Encore Capital Group, Inc		244
	10,984		Epoch Holding Corp		149
	14,946		Evercore Partners, Inc (Class A)		341
	36,390	*	Ezcorp, Inc (Class A)		1,039
	39,284	*	FBR Capital Markets Corp		93
	69,691	e	Federated Investors, Inc (Class B)		1,222
	51,357	e	Fifth Street Finance Corp		479
	29,176	*,e	Financial Engines, Inc		528
	23,334	*	First Cash Financial Services, Inc		979
	58,259	*,e	First Marblehead Corp		59
	109,286		Franklin Resources, Inc		10,452

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	5,142	e	Friedman Billings Ramsey Group, Inc (Class A)	$	124
	17,300	e	FXCM, Inc		243
	7,000	*,e	Gain Capital Holdings, Inc		44
	6,584		GAMCO Investors, Inc (Class A)		259
	54,396		GFI Group, Inc		219
	15,081		Gladstone Capital Corp		103
	15,921		Gladstone Investment Corp		108
	390,654		Goldman Sachs Group, Inc		36,935
	5,889	e	Golub Capital BDC, Inc		87
	16,998	*,e	Green Dot Corp		532
	22,433	e	Greenhill & Co, Inc		641
	16,757	*,e	Harris & Harris Group, Inc		59
	33,744		Hercules Technology Growth Capital, Inc		287
	22,560	*	HFF, Inc (Class A)		197
	13,505	*	Imperial Holdings, Inc		32
	30,361		Interactive Brokers Group, Inc (Class A)		423
	54,957	*	IntercontinentalExchange, Inc		6,499
	13,392	*	International Assets Holding Corp		278
	32,107	*	Internet Capital Group, Inc		296
	346,461		Invesco Ltd		5,374
	34,884	*	Investment Technology Group, Inc		342
	37,000	e	iShares Russell 2000 Index Fund		2,377
	75,823	e	iShares Russell 3000 Index Fund		5,060
	137,373		Janus Capital Group, Inc		824
	98,527		Jefferies Group, Inc		1,223
	11,011		JMP Group, Inc		64
	3,003,829		JPMorgan Chase & Co		90,475
	26,819		KBW, Inc		370
	73,616	*	Knight Capital Group, Inc (Class A)		895
	15,310		Kohlberg Capital Corp		90
	73,441	*,e	Ladenburg Thalmann Financial Services, Inc		114
	84,822		Lazard Ltd (Class A)		1,790
	113,921		Legg Mason, Inc		2,929
	148,551		Leucadia National Corp		3,369
	26,205	*	LPL Investment Holdings, Inc		666
	15,412		Main Street Capital Corp		274
	21,429		MarketAxess Holdings, Inc		558
	6,533	*	Marlin Business Services Corp		69
	64,585		MCG Capital Corp		256
	9,981		Medallion Financial Corp		93
	7,998		Medley Capital Corp		81
	125,909	*	MF Global Holdings Ltd		520
	152,732		Moody’s Corp		4,651
	1,162,927		Morgan Stanley		15,699
	91,923	*	MSCI, Inc (Class A)		2,788
	17,411		MVC Capital, Inc		182
	94,841	*	Nasdaq Stock Market, Inc		2,195
	20,204		Nelnet, Inc (Class A)		379
	23,100	*,e	Netspend Holdings, Inc		119
	5,367	e	New Mountain Finance Corp		68
	21,889	*	NewStar Financial, Inc		204
	12,077		NGP Capital Resources Co		79

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,402	e	Nicholas Financial, Inc	$	72
	164,117		Northern Trust Corp		5,741
	198,629		NYSE Euronext		4,616
	7,363		Oppenheimer Holdings, Inc		118
	35,056	e	PennantPark Investment Corp		313
	41,814	*	PHH Corp		672
	17,372	*	Pico Holdings, Inc		356
	13,978	*	Piper Jaffray Cos		251
	13,016	*	Portfolio Recovery Associates, Inc		810
	32,274	*,e	Primus Guaranty Ltd		170
	75,446	e	Prospect Capital Corp		635
	9,591		Pzena Investment Management, Inc (Class A)		31
	75,031		Raymond James Financial, Inc		1,948
	21,125	*	Safeguard Scientifics, Inc		317
	8,937		Sanders Morris Harris Group, Inc		58
	110,255		SEI Investments Co		1,696
	400,986		SLM Corp		4,992
	28,070		Solar Capital Ltd		565
	6,100		Solar Senior Capital Ltd		87
	238,000		SPDR Trust Series 1		26,933
	380,776		State Street Corp		12,246
	40,347	*,e	Stifel Financial Corp		1,072
	37,258		SWS Group, Inc		175
	194,627		T Rowe Price Group, Inc		9,297
	167,448		TD Ameritrade Holding Corp		2,462
	6,653		THL Credit, Inc		73
	20,926	e	TICC Capital Corp		171
	14,296	e	Triangle Capital Corp		218
	4,394	*,e	Virtus Investment Partners, Inc		236
	67,558		Waddell & Reed Financial, Inc (Class A)		1,690
	21,009		Walter Investment Management Corp		482
	3,869		Westwood Holdings Group, Inc		134
	10,829	*	World Acceptance Corp		606
			TOTAL DIVERSIFIED FINANCIALS		521,888
ENERGY - 10.6%
	70,225	*,e	Abraxas Petroleum Corp		185
	9,171		Alon USA Energy, Inc		56
	172,068	*	Alpha Natural Resources, Inc		3,044
	13,406	*,e	Amyris Biotechnologies, Inc		271
	375,256		Anadarko Petroleum Corp		23,660
	289,823		Apache Corp		23,255
	6,580	e	APCO Argentina, Inc		490
	16,856	*,e	Approach Resources, Inc		286
	154,928		Arch Coal, Inc		2,259
	33,846	*,e	ATP Oil & Gas Corp		261
	44,174	*	Atwood Oceanics, Inc		1,518
	328,852		Baker Hughes, Inc		15,180
	18,593	*	Basic Energy Services, Inc		263
	39,652		Berry Petroleum Co (Class A)		1,403
	35,237	*	Bill Barrett Corp		1,277
	90,573	*,e	BPZ Energy, Inc		251

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	89,197	*	Brigham Exploration Co	$	2,253
	27,721		Bristow Group, Inc		1,176
	9,000	*	C&J Energy Services, Inc		148
	79,061		Cabot Oil & Gas Corp		4,895
	79,978	*	Cal Dive International, Inc		153
	27,753	*	Callon Petroleum Co		107
	183,191	*	Cameron International Corp		7,610
	14,570	e	CARBO Ceramics, Inc		1,494
	29,745	*	Carrizo Oil & Gas, Inc		641
	71,149	*,e	Cheniere Energy, Inc		366
	496,966		Chesapeake Energy Corp		12,697
	1,519,051		Chevron Corp		140,543
	64,690		Cimarex Energy Co		3,603
	4,602	*,e	Clayton Williams Energy, Inc		197
	37,262	*,e	Clean Energy Fuels Corp		414
	46,507	*	Cloud Peak Energy, Inc		788
	83,572	*	Cobalt International Energy, Inc		644
	60,400	*	Complete Production Services, Inc		1,139
	36,545	*,e	Comstock Resources, Inc		565
	78,411	*	Concho Resources, Inc		5,578
	1,066,847		ConocoPhillips		67,553
	173,265		Consol Energy, Inc		5,879
	9,289	*	Contango Oil & Gas Co		508
	29,565	*,e	Continental Resources, Inc		1,430
	34,938		Core Laboratories NV		3,138
	15,591	*,e	Crimson Exploration, Inc		34
	37,807	e	Crosstex Energy, Inc		510
	67,340	*	CVR Energy, Inc		1,424
	4,728	*,e	Dawson Geophysical Co		111
	7,530		Delek US Holdings, Inc		85
	308,251	*	Denbury Resources, Inc		3,545
	318,030	*	Devon Energy Corp		17,632
	38,961		DHT Maritime, Inc		79
	51,948	e	Diamond Offshore Drilling, Inc		2,844
	59,365	*	Dresser-Rand Group, Inc		2,406
	26,285	*	Dril-Quip, Inc		1,417
	584,057		El Paso Corp		10,209
	28,282	*,e	Endeavour International Corp		226
	53,820		Energen Corp		2,201
	21,960	*	Energy Partners Ltd		243
	56,747	*,e	Energy XXI Bermuda Ltd		1,217
	201,894		EOG Resources, Inc		14,336
	102,738		Equitable Resources, Inc		5,482
	11,704	*	Evolution Petroleum Corp		83
	111,561		EXCO Resources, Inc		1,196
	48,293	*,e	Exterran Holdings, Inc		469
	3,723,604	d	Exxon Mobil Corp		270,446
	181,806	*	FMC Technologies, Inc		6,836
	85,352	*	Forest Oil Corp		1,229
	39,564	e	Frontline Ltd		192
	36,931	*,e	FX Energy, Inc		153
	54,404	*	Gastar Exploration Ltd		163

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	90,020	e	General Maritime Corp	$	23
	7,921	*,e	Geokinetics, Inc		19
	15,376	*,e	Georesources, Inc		274
	3,300	*,e	Gevo, Inc		18
	14,135	*	Global Geophysical Services, Inc		113
	79,950	*	Global Industries Ltd		633
	46,474	*,e	GMX Resources, Inc		105
	28,774	e	Golar LNG Ltd		914
	20,317	*,e	Goodrich Petroleum Corp		240
	20,962	*,e	Green Plains Renewable Energy, Inc		196
	9,089		Gulf Island Fabrication, Inc		188
	15,761	*	Gulfmark Offshore, Inc		573
	29,832	*	Gulfport Energy Corp		721
	690,553		Halliburton Co		21,076
	29,621	*,e	Harvest Natural Resources, Inc		254
	81,706	*	Helix Energy Solutions Group, Inc		1,070
	72,674		Helmerich & Payne, Inc		2,951
	87,818	*	Hercules Offshore, Inc		256
	229,736		Hess Corp		12,052
	142,620		Holly Corp		3,739
	18,746	*,e	Hornbeck Offshore Services, Inc		467
	14,150	e	Houston American Energy Corp		195
	130,217	*,e	Hyperdynamics Corp		482
	100,154	*	ION Geophysical Corp		474
	823	*,e	Isramco, Inc		48
	27,417	*,e	James River Coal Co		175
	95,985	*	Key Energy Services, Inc		911
	127,114	e	Kinder Morgan, Inc		3,291
	7,900	*	KiOR, Inc (Class A)		164
	18,775	e	Knightsbridge Tankers Ltd		311
	158,147	*,e	Kodiak Oil & Gas Corp		824
	24,954	*	Kosmos Energy LLC		292
	12,300	*,e	L&L Energy, Inc		33
	22,968		Lufkin Industries, Inc		1,222
	81,929	*,e	Magnum Hunter Resources Corp		271
	536,438		Marathon Oil Corp		11,576
	270,119		Marathon Petroleum Corp		7,309
	23,922	*	Matrix Service Co		204
	176,324	*	McDermott International, Inc		1,897
	78,067	*,e	McMoRan Exploration Co		775
	31,904	*,e	Miller Petroleum, Inc		84
	7,684	*	Mitcham Industries, Inc		86
	147,218		Murphy Oil Corp		6,501
	217,056	*	Nabors Industries Ltd		2,661
	320,105		National Oilwell Varco, Inc		16,396
	5,226	*	Natural Gas Services Group, Inc		67
	101,438	*	Newfield Exploration Co		4,026
	69,901	*	Newpark Resources, Inc		426
	133,406		Noble Energy, Inc		9,445
	37,402	e	Nordic American Tanker Shipping		527
	48,403	*,e	Northern Oil And Gas, Inc		939
	45,751	*,e	Oasis Petroleum, Inc		1,022

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	613,477		Occidental Petroleum Corp	$	43,864
	82,172		Oceaneering International, Inc		2,904
	37,449	*	Oil States International, Inc		1,907
	19,618	e	Overseas Shipholding Group, Inc		270
	3,307	*	OYO Geospace Corp		186
	37,088	*,e	Pacific Asia Petroleum, Inc		22
	5,367	e	Panhandle Oil and Gas, Inc (Class A)		152
	96,030	*	Parker Drilling Co		422
	69,102	*,e	Patriot Coal Corp		585
	119,282		Patterson-UTI Energy, Inc		2,068
	205,078		Peabody Energy Corp		6,948
	35,015	e	Penn Virginia Corp		195
	16,488	*	Petroleum Development Corp		320
	43,261	*,e	Petroquest Energy, Inc		238
	9,723	*	PHI, Inc		186
	42,944	*	Pioneer Drilling Co		308
	88,660		Pioneer Natural Resources Co		5,831
	108,164	*	Plains Exploration & Production Co		2,456
	132,552		Questar Market Resources, Inc		3,588
	86,019	*,e	Quicksilver Resources, Inc		652
	121,181		Range Resources Corp		7,084
	167,304	*,e	Rentech, Inc		131
	35,433	*,e	Resolute Energy Corp		403
	26,939	*,e	Rex Energy Corp		341
	6,400	*	Rex Stores Corp		108
	4,515	*	RigNet, Inc		72
	40,850	*	Rosetta Resources, Inc		1,398
	96,528	*	Rowan Cos, Inc		2,914
	33,284		RPC, Inc		543
	304,794	*,e	SandRidge Energy, Inc		1,695
	1,024,091		Schlumberger Ltd		61,168
	19,383	*,e	Scorpio Tankers, Inc		102
	16,143		SEACOR Holdings, Inc		1,295
	31,863	*	SemGroup Corp		636
	34,031	e	Ship Finance International Ltd		442
	8,338	*,e	Solazyme, Inc		80
	93,776		Southern Union Co		3,804
	263,405	*	Southwestern Energy Co		8,779
	493,023		Spectra Energy Corp		12,094
	47,139		St. Mary Land & Exploration Co		2,859
	36,323	*	Stone Energy Corp		589
	90,549		Sunoco, Inc		2,808
	59,956	*	Superior Energy Services		1,573
	32,148	*	Swift Energy Co		782
	49,984	*,e	Syntroleum Corp		43
	12,700		Targa Resources Investments, Inc		378
	32,878	e	Teekay Corp		743
	32,183	e	Teekay Tankers Ltd (Class A)		148
	23,351	*	Tesco Corp		271
	108,582	*,e	Tesoro Corp		2,114
	61,337	*	Tetra Technologies, Inc		474
	38,204	e	Tidewater, Inc		1,606

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	32,149	*,e	Triangle Petroleum Corp	$	115
	113,637	*	Ultra Petroleum Corp		3,150
	10,127	*	Union Drilling, Inc		48
	29,837	*	Unit Corp		1,102
	49,078	*,e	Uranerz Energy Corp		67
	76,523	*,e	Uranium Energy Corp		210
	13,262	*,e	Uranium Resources, Inc		9
	80,628	*	Ur-Energy, Inc		73
	64,074	*,e	USEC, Inc		103
	48,465	*	Vaalco Energy, Inc		236
	431,477		Valero Energy Corp		7,672
	169,150	*	Vantage Drilling Co		211
	22,450	*	Venoco, Inc		198
	34,077	*,e	Voyager Oil & Gas, Inc		72
	26,733	e	W&T Offshore, Inc		368
	67,894	*	Warren Resources, Inc		163
	41,000	*,e	Western Refining, Inc		511
	7,723	*	Westmoreland Coal Co		60
	89,390	*	Whiting Petroleum Corp		3,136
	29,621	*	Willbros Group, Inc		124
	446,175		Williams Cos, Inc		10,860
	54,207		World Fuel Services Corp		1,770
	18,939	*,e	Zion Oil & Gas, Inc		37
			TOTAL ENERGY		1,021,336
FOOD & STAPLES RETAILING - 2.1%
	13,080		Andersons, Inc		440
	837		Arden Group, Inc (Class A)		67
	39,570	*	BJ’s Wholesale Club, Inc		2,028
	29,235		Casey’s General Stores, Inc		1,276
	7,700	*	Chefs’ Warehouse Holdings, Inc		91
	329,717		Costco Wholesale Corp		27,076
	1,021,715		CVS Corp		34,308
	21,250	*,e	Fresh Market, Inc		811
	8,163		Ingles Markets, Inc (Class A)		116
	459,245		Kroger Co		10,085
	10,977		Nash Finch Co		296
	16,292	*	Pantry, Inc		198
	13,557		Pricesmart, Inc		845
	445,462	*,e	Rite Aid Corp		437
	33,448		Ruddick Corp		1,304
	271,027		Safeway, Inc		4,507
	18,527		Spartan Stores, Inc		287
	165,275	e	Supervalu, Inc		1,101
	5,570	*	Susser Holdings Corp		111
	442,709		Sysco Corp		11,466
	36,743	*	United Natural Foods, Inc		1,361
	4,652		Village Super Market (Class A)		111
	692,698		Walgreen Co		22,783
	1,340,713		Wal-Mart Stores, Inc		69,582
	8,834		Weis Markets, Inc		327
	116,808		Whole Foods Market, Inc		7,629

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	41,829	*,e	Winn-Dixie Stores, Inc	$	248
			TOTAL FOOD & STAPLES RETAILING		198,891
FOOD, BEVERAGE & TOBACCO - 5.6%
	2,319		Alico, Inc		46
	68,179	*	Alliance One International, Inc		166
	1,583,571		Altria Group, Inc		42,456
	508,614		Archer Daniels Midland Co		12,620
	37,577		B&G Foods, Inc (Class A)		627
	6,724	*,e	Boston Beer Co, Inc (Class A)		489
	76,741		Brown-Forman Corp (Class B)		5,383
	110,705		Bunge Ltd		6,453
	7,129	e	Calavo Growers, Inc		146
	10,929		Cal-Maine Foods, Inc		343
	131,903		Campbell Soup Co		4,270
	53,541	*,e	Central European Distribution Corp		375
	31,603	*,e	Chiquita Brands International, Inc		264
	4,202		Coca-Cola Bottling Co Consolidated		233
	1,493,303		Coca-Cola Co		100,888
	248,992		Coca-Cola Enterprises, Inc		6,195
	312,873		ConAgra Foods, Inc		7,578
	141,361	*	Constellation Brands, Inc (Class A)		2,544
	57,268		Corn Products International, Inc		2,247
	7,653	*,e	Craft Brewers Alliance, Inc		43
	88,594	*	Darling International, Inc		1,115
	140,023	*	Dean Foods Co		1,242
	16,103	e	Diamond Foods, Inc		1,285
	27,600	*,e	Dole Food Co, Inc		276
	169,553		Dr Pepper Snapple Group, Inc		6,575
	5,320	e	Farmer Bros Co		29
	85,492		Flowers Foods, Inc		1,664
	27,866	e	Fresh Del Monte Produce, Inc		646
	480,957		General Mills, Inc		18,503
	92,988	*	Green Mountain Coffee Roasters, Inc		8,642
	2,482		Griffin Land & Nurseries, Inc (Class A)		64
	241,687		H.J. Heinz Co		12,200
	27,245	*	Hain Celestial Group, Inc		832
	51,477	*	Hansen Natural Corp		4,493
	7,067	*	Harbinger Group, Inc		36
	70,305	*,e	Heckmann Corp		372
	114,632		Hershey Co		6,791
	105,226		Hormel Foods Corp		2,843
	8,158	e	Imperial Sugar Co		53
	11,326		J&J Snack Foods Corp		544
	87,000		J.M. Smucker Co		6,341
	186,439		Kellogg Co		9,917
	1,248,435		Kraft Foods, Inc (Class A)		41,923
	14,250	e	Lancaster Colony Corp		869
	36,396		Lance, Inc		759
	3,603	*,e	Lifeway Foods, Inc		38
	6,464	e	Limoneira Co		92
	109,064		Lorillard, Inc		12,073

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	100,117		McCormick & Co, Inc	$	4,621
	154,798		Mead Johnson Nutrition Co		10,655
	9,066	e	Mgp Ingredients, Inc		46
	99,012		Molson Coors Brewing Co (Class B)		3,922
	5,604		National Beverage Corp		85
	15,084	*	Omega Protein Corp		137
	1,194,876		PepsiCo, Inc		73,963
	1,344,113		Philip Morris International, Inc		83,846
	37,600	*,e	Pilgrim’s Pride Corp		161
	9,350	*,e	Primo Water		53
	42,347	*	Ralcorp Holdings, Inc		3,248
	253,791		Reynolds American, Inc		9,512
	17,484	e	Sanderson Farms, Inc		830
	447,735		Sara Lee Corp		7,320
	7,792	*	Seneca Foods Corp		154
	53,670	*,e	Smart Balance, Inc		317
	125,524	*	Smithfield Foods, Inc		2,448
	69,350	*,e	Star Scientific, Inc		160
	14,223	*,e	Synutra International, Inc		76
	18,111	e	Tootsie Roll Industries, Inc		437
	26,938	*	TreeHouse Foods, Inc		1,666
	230,318		Tyson Foods, Inc (Class A)		3,998
	18,707		Universal Corp		671
	35,110	e	Vector Group Ltd		603
			TOTAL FOOD, BEVERAGE & TOBACCO		542,512
HEALTH CARE EQUIPMENT & SERVICES - 4.5%
	15,924	*,e	Abaxis, Inc		365
	27,756	*	Abiomed, Inc		306
	30,836	*,e	Accretive Health, Inc		655
	52,299	*,e	Accuray, Inc		210
	288,207		Aetna, Inc		10,476
	8,631	*	Air Methods Corp		550
	47,580	*	Align Technology, Inc		722
	4,887	*,e	Alimera Sciences, Inc		39
	18,580	*	Alliance Imaging, Inc		21
	145,378	*	Allscripts Healthcare Solutions, Inc		2,620
	7,268	*	Almost Family, Inc		121
	39,818	*	Alphatec Holdings, Inc		84
	21,596	*	Amedisys, Inc		320
	9,851	*	American Dental Partners, Inc		95
	32,663	*	Amerigroup Corp		1,274
	209,849		AmerisourceBergen Corp		7,821
	30,580	*	AMN Healthcare Services, Inc		123
	25,648	*	Amsurg Corp		577
	10,953		Analogic Corp		497
	18,523	*	Angiodynamics, Inc		243
	54,175	*,e	Antares Pharma, Inc		126
	20,843	*	Arthrocare Corp		600
	17,166		Assisted Living Concepts, Inc (A Shares)		217
	25,682	*,e	athenahealth, Inc		1,529
	10,854	*	AtriCure, Inc		106

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	1,039		Atrion Corp	$	215
	64,525		Bard (C.R.), Inc		5,649
	431,603		Baxter International, Inc		24,230
	165,298		Becton Dickinson & Co		12,120
	21,696	*,e	Biolase Technology, Inc		65
	18,346	*,e	Bio-Reference Labs, Inc		338
	31,488	*	BioScrip, Inc		200
	1,149,568	*	Boston Scientific Corp		6,794
	74,076	*	Brookdale Senior Living, Inc		929
	12,419		Cantel Medical Corp		262
	15,384	*	Capital Senior Living Corp		95
	265,985		Cardinal Health, Inc		11,139
	18,454	*	CardioNet, Inc		55
	9,837	*,e	Cardiovascular Systems, Inc		112
	164,978	*	CareFusion Corp		3,951
	32,577	*	Catalyst Health Solutions, Inc		1,879
	24,036	*,e	CBaySystems Holdings Ltd		182
	39,667	*	Centene Corp		1,137
	107,062	*	Cerner Corp		7,335
	28,816	*	Cerus Corp		61
	16,152		Chemed Corp		888
	8,056	*	Chindex International, Inc		71
	205,164		Cigna Corp		8,605
	72,212	*	Community Health Systems, Inc		1,202
	7,737		Computer Programs & Systems, Inc		512
	25,681	*	Conceptus, Inc		269
	22,053	*	Conmed Corp		507
	23,514	*,e	Continucare Corp		150
	34,815		Cooper Cos, Inc		2,756
	6,016	*	Corvel Corp		256
	110,716	*	Coventry Health Care, Inc		3,190
	374,197		Covidien plc		16,502
	22,090	*	Cross Country Healthcare, Inc		92
	27,223	*	CryoLife, Inc		122
	19,734	*	Cyberonics, Inc		558
	5,493	*	Cynosure, Inc (Class A)		55
	71,147	*	DaVita, Inc		4,459
	29,659	*,e	Delcath Systems, Inc		99
	107,747		Dentsply International, Inc		3,307
	51,238	*	DexCom, Inc		615
	7,198	*	DynaVox, Inc		26
	85,857	*	Edwards Lifesciences Corp		6,120
	21,300	*,e	Emdeon, Inc		400
	23,206	*,e	Emeritus Corp		327
	34,017	*	Endologix, Inc		342
	10,891		Ensign Group, Inc		252
	4,100	*	ePocrates, Inc		37
	4,898	*	Exactech, Inc		69
	20,845	*,e	EXamWorks, Inc		212
	368,220	*	Express Scripts, Inc		13,650
	24,001	*	Five Star Quality Care, Inc		60
	35,041	*	Gen-Probe, Inc		2,006

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	22,160	*	Gentiva Health Services, Inc	$	122
	19,254	*	Greatbatch, Inc		385
	18,549	*	Haemonetics Corp		1,085
	25,502	*	Hanger Orthopedic Group, Inc		482
	32,412	*,e	Hansen Medical, Inc		108
	98,994	*	HCA Holdings, Inc		1,996
	197,006	*	Health Management Associates, Inc (Class A)		1,363
	69,494	*	Health Net, Inc		1,648
	71,500	*	Healthsouth Corp		1,067
	48,395	*	Healthspring, Inc		1,764
	12,083	*	HealthStream, Inc		155
	28,116	*	Healthways, Inc		276
	9,160	*,e	HeartWare International, Inc		590
	69,502	*	Henry Schein, Inc		4,310
	49,054		Hill-Rom Holdings, Inc		1,473
	62,121	*	HMS Holdings Corp		1,515
	200,085	*	Hologic, Inc		3,043
	126,179		Humana, Inc		9,177
	9,095	*	ICU Medical, Inc		335
	43,803	*	Idexx Laboratories, Inc		3,021
	34,069	*,e	Insulet Corp		520
	16,250	*	Integra LifeSciences Holdings Corp		581
	29,788	*	Intuitive Surgical, Inc		10,851
	23,110		Invacare Corp		532
	65,672	*	Inverness Medical Innovations, Inc		1,290
	11,925	*	IPC The Hospitalist Co, Inc		426
	12,955	*	IRIS International, Inc		116
	8,260	*	Kensey Nash Corp		202
	38,766	*	Kindred Healthcare, Inc		334
	49,419	*	Kinetic Concepts, Inc		3,256
	75,460	*	Laboratory Corp of America Holdings		5,965
	8,629		Landauer, Inc		427
	11,927	*	LHC Group, Inc		203
	40,314	*	LifePoint Hospitals, Inc		1,477
	72,282		Lincare Holdings, Inc		1,626
	23,696	*	Magellan Health Services, Inc		1,145
	24,243	*,e	MAKO Surgical Corp		830
	38,810		Masimo Corp		840
	191,202		McKesson Corp		13,900
	33,286	*	MedAssets, Inc		320
	302,273	*	Medco Health Solutions, Inc		14,174
	9,627	*	Medical Action Industries, Inc		49
	14,224	*	Medidata Solutions, Inc		234
	805,576		Medtronic, Inc		26,777
	38,200	*	Merge Healthcare, Inc		233
	31,965	e	Meridian Bioscience, Inc		503
	29,037	*	Merit Medical Systems, Inc		382
	30,372	*	Metropolitan Health Networks, Inc		138
	21,513	*	Molina Healthcare, Inc		332
	9,533	*	MWI Veterinary Supply, Inc		656
	6,756	e	National Healthcare Corp		218
	19,956	*	Natus Medical, Inc		190

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	18,486	*	Neogen Corp	$	642
	66,756	*,e	Neoprobe Corp		198
	30,456	*,e	NuVasive, Inc		520
	33,986	*	NxStage Medical, Inc		709
	86,850	e	Omnicare, Inc		2,209
	24,067	*	Omnicell, Inc		332
	30,922	*	OraSure Technologies, Inc		246
	14,876	*	Orthofix International NV		513
	48,567		Owens & Minor, Inc		1,383
	12,302	*	Palomar Medical Technologies, Inc		97
	79,206		Patterson Cos, Inc		2,268
	35,351	*	Pediatrix Medical Group, Inc		2,214
	23,814	*	PharMerica Corp		340
	8,598	*	Providence Service Corp		92
	41,924	*,e	PSS World Medical, Inc		825
	13,588	e	Quality Systems, Inc		1,318
	118,730		Quest Diagnostics, Inc		5,861
	21,781	*,e	Quidel Corp		357
	23,354	*,e	RadNet, Inc		57
	116,858	*,e	Resmed, Inc		3,364
	12,187	*,e	Rockwell Medical Technologies, Inc		99
	38,631	*	RTI Biologics, Inc		127
	34,640	*,e	Select Medical Holdings Corp		231
	42,129	*	Sirona Dental Systems, Inc		1,787
	15,881	*	Skilled Healthcare Group, Inc (Class A)		57
	44,003	*	Solta Medical, Inc		55
	12,040	*	SonoSite, Inc		365
	21,581	*	Spectranetics Corp		154
	249,528		St. Jude Medical, Inc		9,030
	26,141	*,e	Staar Surgical Co		204
	16,786	*,e	Stereotaxis, Inc		19
	45,845		STERIS Corp		1,342
	237,874		Stryker Corp		11,211
	19,029	*,e	Sun Healthcare Group, Inc		51
	40,216	*,e	Sunrise Senior Living, Inc		186
	13,627	*	SurModics, Inc		124
	47,188	*	SXC Health Solutions Corp		2,628
	32,497	*	Symmetry Medical, Inc		251
	16,509	*,e	Synergetics USA, Inc		89
	9,221	*	Synovis Life Technologies, Inc		154
	20,027	*	Team Health Holdings, Inc		329
	30,710		Teleflex, Inc		1,651
	367,275	*	Tenet Healthcare Corp		1,517
	43,318	*,e	Thoratec Corp		1,414
	7,882	*	Tornier BV		162
	4,824	*	Transcend Services, Inc		109
	14,800	*	Triple-S Management Corp (Class B)		248
	37,485	*,e	Unilife Corp		157
	819,406		UnitedHealth Group, Inc		37,792
	23,233		Universal American Corp		234
	69,358		Universal Health Services, Inc (Class B)		2,358
	15,919	*,e	Uroplasty, Inc		77

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,422		US Physical Therapy, Inc	$	156
	23,000	*	Vanguard Health Systems, Inc		234
	87,360	*	Varian Medical Systems, Inc		4,557
	12,709	*	Vascular Solutions, Inc		146
	66,310	*	VCA Antech, Inc		1,060
	39,957	*,e	Volcano Corp		1,184
	32,075	*	WellCare Health Plans, Inc		1,218
	277,764		WellPoint, Inc		18,132
	26,348		West Pharmaceutical Services, Inc		978
	28,863	*	Wright Medical Group, Inc		516
	4,290		Young Innovations, Inc		122
	145,078	*	Zimmer Holdings, Inc		7,762
	17,148	*	Zoll Medical Corp		647
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		431,272
HOUSEHOLD & PERSONAL PRODUCTS - 2.3%
	327,248		Avon Products, Inc		6,414
	46,305	*	Central Garden and Pet Co (Class A)		328
	106,968		Church & Dwight Co, Inc		4,728
	100,687		Clorox Co		6,679
	369,332		Colgate-Palmolive Co		32,752
	17,426	*	Elizabeth Arden, Inc		496
	52,776	*	Energizer Holdings, Inc		3,506
	85,023		Estee Lauder Cos (Class A)		7,469
	11,623	e	Female Health Co		47
	91,346		Herbalife Ltd		4,896
	12,258		Inter Parfums, Inc		189
	297,029		Kimberly-Clark Corp		21,092
	9,661	*,e	Medifast, Inc		156
	5,868	*,e	Nature’s Sunshine Products, Inc		83
	38,826		Nu Skin Enterprises, Inc (Class A)		1,573
	8,067	*	Nutraceutical International Corp		103
	3,981	e	Oil-Dri Corp of America		74
	38,233	*	Prestige Brands Holdings, Inc		346
	2,109,899		Procter & Gamble Co		133,303
	9,587	*,e	Revlon, Inc (Class A)		118
	9,325		Schiff Nutrition International, Inc		103
	11,963	*	Spectrum Brands, Inc		283
	6,878	*,e	USANA Health Sciences, Inc		189
	11,364		WD-40 Co		453
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		225,380
INSURANCE - 3.7%
	255,207		ACE Ltd		15,465
	352,489		Aflac, Inc		12,319
	4,966	*	Alleghany Corp		1,433
	28,991		Allied World Assurance Co Holdings Ltd		1,557
	396,548		Allstate Corp		9,394
	46,461		American Equity Investment Life Holding Co		407
	61,424		American Financial Group, Inc		1,908
	335,080	*	American International Group, Inc		7,355
	4,964		American National Insurance Co		344

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,468	*	American Safety Insurance Holdings Ltd	$	137
	13,065	*	Amerisafe, Inc		241
	17,807	e	Amtrust Financial Services, Inc		396
	249,687		AON Corp		10,482
	101,080	*	Arch Capital Group Ltd		3,303
	21,131		Argo Group International Holdings Ltd		599
	81,896		Arthur J. Gallagher & Co		2,154
	54,260		Aspen Insurance Holdings Ltd		1,250
	73,810		Assurant, Inc		2,642
	141,003	e	Assured Guaranty Ltd		1,550
	91,618		Axis Capital Holdings Ltd		2,377
	4,897		Baldwin & Lyons, Inc (Class B)		105
	1,323,128	*	Berkshire Hathaway, Inc (Class B)		93,994
	84,688		Brown & Brown, Inc		1,507
	220,762		Chubb Corp		13,244
	108,469		Cincinnati Financial Corp		2,856
	32,879	*,e	Citizens, Inc (Class A)		211
	19,762		CNA Financial Corp		444
	170,071	*,e	Conseco, Inc		920
	14,025	e	Crawford & Co (Class B)		75
	36,264		Delphi Financial Group, Inc (Class A)		780
	9,364		Donegal Group, Inc (Class A)		113
	17,698	*	eHealth, Inc		242
	4,503		EMC Insurance Group, Inc		83
	34,055		Employers Holdings, Inc		435
	31,116		Endurance Specialty Holdings Ltd		1,063
	4,920	*	Enstar Group Ltd		469
	21,144		Erie Indemnity Co (Class A)		1,505
	33,466		Everest Re Group Ltd		2,657
	9,829		FBL Financial Group, Inc (Class A)		262
	171,742		Fidelity National Title Group, Inc (Class A)		2,607
	77,697		First American Financial Corp		995
	40,236		Flagstone Reinsurance Holdings Ltd		312
	10,330	*	Fpic Insurance Group, Inc		432
	364,848	*	Genworth Financial, Inc (Class A)		2,094
	20,683	*	Greenlight Capital Re Ltd (Class A)		429
	7,438	*	Hallmark Financial Services		55
	32,699		Hanover Insurance Group, Inc		1,161
	10,427		Harleysville Group, Inc		614
	338,501		Hartford Financial Services Group, Inc		5,463
	87,439		HCC Insurance Holdings, Inc		2,365
	20,059	*	Hilltop Holdings, Inc		145
	29,235		Horace Mann Educators Corp		334
	5,411	e	Independence Holding Co		39
	10,619		Infinity Property & Casualty Corp		557
	2,078		Kansas City Life Insurance Co		64
	39,343		Kemper Corp		943
	233,947		Lincoln National Corp		3,657
	237,462		Loews Corp		8,204
	34,934		Maiden Holdings Ltd		258
	7,078	*	Markel Corp		2,528
	414,979		Marsh & McLennan Cos, Inc		11,014

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	69,338		Max Capital Group Ltd	$	1,315
	100,530	*,e	MBIA, Inc		731
	42,189		Meadowbrook Insurance Group, Inc		376
	17,944		Mercury General Corp		688
	621,472		Metlife, Inc		17,406
	47,771		Montpelier Re Holdings Ltd		845
	36,167	*	National Financial Partners Corp		396
	9,917		National Interstate Corp		218
	1,551		National Western Life Insurance Co (Class A)		210
	8,338	*	Navigators Group, Inc		360
	195,723		Old Republic International Corp		1,746
	20,220		OneBeacon Insurance Group Ltd (Class A)		276
	51,773		PartnerRe Ltd		2,706
	98,653	*	Phoenix Cos, Inc		120
	28,637		Platinum Underwriters Holdings Ltd		881
	13,808		Presidential Life Corp		114
	21,424		Primerica, Inc		462
	243,784		Principal Financial Group		5,527
	22,204		ProAssurance Corp		1,599
	497,045		Progressive Corp		8,828
	65,519		Protective Life Corp		1,024
	367,158		Prudential Financial, Inc		17,204
	56,415		Reinsurance Group of America, Inc (Class A)		2,592
	39,604		RenaissanceRe Holdings Ltd		2,527
	12,489	e	RLI Corp		794
	11,015		Safety Insurance Group, Inc		417
	14,868		SeaBright Insurance Holdings, Inc		107
	40,400		Selective Insurance Group, Inc		527
	35,995		Stancorp Financial Group, Inc		992
	9,480		State Auto Financial Corp		125
	12,744		Stewart Information Services Corp		113
	51,687		Symetra Financial Corp		421
	87,019		Torchmark Corp		3,033
	31,231		Tower Group, Inc		714
	47,478		Transatlantic Holdings, Inc		2,304
	316,878		Travelers Cos, Inc		15,441
	12,914	*	United America Indemnity Ltd		221
	17,338		United Fire & Casualty Co		307
	10,064		Universal Insurance Holdings, Inc		39
	234,134		UnumProvident Corp		4,907
	58,995		Validus Holdings Ltd		1,470
	84,224		W.R. Berkley Corp		2,501
	5,268	e	White Mountains Insurance Group Ltd		2,137
	236,648		XL Capital Ltd		4,449
			TOTAL INSURANCE		349,718
MATERIALS - 3.9%
	24,943		A. Schulman, Inc		424
	5,113	*	AEP Industries, Inc		114
	159,479		Air Products & Chemicals, Inc		12,179
	58,464		Airgas, Inc		3,731
	84,458	e	AK Steel Holding Corp		552

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	69,587		Albemarle Corp	$	2,811
	801,888		Alcoa, Inc		7,674
	81,466		Allegheny Technologies, Inc		3,013
	68,161	*	Allied Nevada Gold Corp		2,441
	18,051		AMCOL International Corp		433
	18,079	e	American Vanguard Corp		202
	50,149		Aptargroup, Inc		2,240
	17,411		Arch Chemicals, Inc		817
	60,252		Ashland, Inc		2,660
	21,090		Balchem Corp		787
	125,914		Ball Corp		3,905
	80,502		Bemis Co, Inc		2,360
	76,383		Boise, Inc		395
	14,781	*	Brush Engineered Materials, Inc		335
	31,123		Buckeye Technologies, Inc		750
	50,868		Cabot Corp		1,261
	45,612	*	Calgon Carbon Corp		665
	33,678		Carpenter Technology Corp		1,512
	11,808	*	Castle (A.M.) & Co		129
	118,461		Celanese Corp (Series A)		3,854
	39,702	*,e	Century Aluminum Co		355
	53,955		CF Industries Holdings, Inc		6,658
	5,158	e	Chase Corp		55
	73,547	*	Chemtura		738
	21,602	*	Clearwater Paper Corp		734
	110,374		Cleveland-Cliffs, Inc		5,648
	64,083	*	Coeur d’Alene Mines Corp		1,374
	86,134		Commercial Metals Co		819
	25,270		Compass Minerals International, Inc		1,688
	116,848	*	Crown Holdings, Inc		3,577
	38,318		Cytec Industries, Inc		1,346
	9,014		Deltic Timber Corp		538
	31,420		Domtar Corp		2,142
	889,490		Dow Chemical Co		19,978
	699,853		Du Pont (E.I.) de Nemours & Co		27,974
	33,735		Eagle Materials, Inc		562
	54,019		Eastman Chemical Co		3,702
	175,372	e	Ecolab, Inc		8,574
	66,070	*	Ferro Corp		406
	38,825	*,e	Flotek Industries, Inc		181
	53,112		FMC Corp		3,673
	717,022		Freeport-McMoRan Copper & Gold, Inc (Class B)		21,833
	14,460	e	FutureFuel Corp		150
	51,402	*,e	General Moly, Inc		149
	25,535	*,e	Georgia Gulf Corp		353
	35,119		Glatfelter		464
	47,286		Globe Specialty Metals, Inc		687
	21,606	e	Gold Resource Corp		360
	9,348	*,e	Golden Minerals Co		70
	196,126	*,e	Golden Star Resources Ltd		365
	122,089	*	Graphic Packaging Holding Co		421
	26,849		Greif, Inc (Class A)		1,152

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	36,079		H.B. Fuller Co	$	657
	6,809	e	Hawkins, Inc		217
	9,402		Haynes International, Inc		409
	54,162	*,e	Headwaters, Inc		78
	214,218	*,e	Hecla Mining Co		1,148
	33,599	*	Horsehead Holding Corp		249
	145,355		Huntsman Corp		1,406
	16,427		Innophos Holdings, Inc		655
	18,027	*	Innospec, Inc		436
	59,727		International Flavors & Fragrances, Inc		3,358
	330,657		International Paper Co		7,689
	40,015	*	Intrepid Potash, Inc		995
	65,101	*,e	Jaguar Mining, Inc		306
	11,905	e	Kaiser Aluminum Corp		527
	32,261	*	Kapstone Paper and Packaging Corp		448
	4,800	e	KMG Chemicals, Inc		59
	16,539		Koppers Holdings, Inc		424
	24,388	*	Kraton Polymers LLC		395
	14,288	e	Kronos Worldwide, Inc		230
	14,893	*	Landec Corp		79
	101,464	*	Louisiana-Pacific Corp		517
	13,887	*	LSB Industries, Inc		398
	237,032		LyondellBasell Industries AF S.C.A		5,791
	34,945	e	Martin Marietta Materials, Inc		2,209
	126,929		MeadWestvaco Corp		3,117
	8,652	*	Metals USA Holdings Corp		77
	60,363	*,e	Midway Gold Corp		121
	14,800		Minerals Technologies, Inc		729
	42,981	*,e	Molycorp, Inc		1,413
	404,416		Monsanto Co		24,281
	208,415		Mosaic Co		10,206
	23,791		Myers Industries, Inc		241
	106,157		Nalco Holding Co		3,713
	11,726		Neenah Paper, Inc		166
	6,813	e	NewMarket Corp		1,035
	368,379		Newmont Mining Corp		23,172
	4,943		NL Industries, Inc		62
	16,993	*	Noranda Aluminium Holding Corp		142
	240,123		Nucor Corp		7,597
	63,038		Olin Corp		1,135
	9,331		Olympic Steel, Inc		158
	23,303	*	OM Group, Inc		605
	32,453	*	Omnova Solutions, Inc		116
	123,223	*	Owens-Illinois, Inc		1,863
	79,420		Packaging Corp of America		1,850
	90,889	*,e	Paramount Gold and Silver Corp		214
	71,742		PolyOne Corp		768
	119,875		PPG Industries, Inc		8,470
	228,879		Praxair, Inc		21,396
	9,804		Quaker Chemical Corp		254
	55,860		Reliance Steel & Aluminum Co		1,900
	18,123	*	Revett Minerals, Inc		70

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	52,434		Rock-Tenn Co (Class A)	$	2,552
	52,353	*	Rockwood Holdings, Inc		1,764
	41,544		Royal Gold, Inc		2,661
	98,223		RPM International, Inc		1,837
	23,200	*	RTI International Metals, Inc		541
	16,575		Schnitzer Steel Industries, Inc (Class A)		610
	13,962		Schweitzer-Mauduit International, Inc		780
	34,625	e	Scotts Miracle-Gro Co (Class A)		1,544
	123,206		Sealed Air Corp		2,058
	30,735	*	Senomyx, Inc		108
	38,347		Sensient Technologies Corp		1,248
	67,242		Sherwin-Williams Co		4,997
	90,851		Sigma-Aldrich Corp		5,614
	37,804		Silgan Holdings, Inc		1,389
	93,627	*	Solutia, Inc		1,203
	76,188		Sonoco Products Co		2,151
	130,301		Southern Copper Corp (NY)		3,256
	25,932	*	Spartech Corp		83
	165,292		Steel Dynamics, Inc		1,640
	5,500		Stepan Co		369
	78,944	*,e	Stillwater Mining Co		671
	21,697	*,e	STR Holdings, Inc		176
	10,000	*	SunCoke Energy, Inc		110
	79,885		Temple-Inland, Inc		2,506
	17,319	e	Texas Industries, Inc		550
	10,121	*	Texas Petrochemicals, Inc		203
	117,009	*,e	Thompson Creek Metals Co, Inc		710
	65,998	e	Titanium Metals Corp		989
	1,357	*	United States Lime & Minerals, Inc		54
	110,404	e	United States Steel Corp		2,430
	4,623	*	Universal Stainless & Alloy		118
	21,458	*,e	US Energy Corp Wyoming		50
	79,913	*,e	US Gold Corp		320
	73,237		Valspar Corp		2,286
	11,300	*,e	Verso Paper Corp		19
	52,408	*,e	Vista Gold Corp		175
	98,368	e	Vulcan Materials Co		2,711
	46,839		Walter Energy, Inc		2,811
	37,679		Wausau Paper Corp		241
	15,532		Westlake Chemical Corp		532
	4,506	*	WHX Corp		45
	46,555		Worthington Industries, Inc		650
	56,274	*	WR Grace & Co		1,874
	15,316		Zep, Inc		230
	19,213	*,e	Zoltek Cos, Inc		124
			TOTAL MATERIALS		372,511
MEDIA - 3.0%
	13,486		AH Belo Corp (Class A)		57
	41,954	*	AMC Networks, Inc		1,340
	20,466		Arbitron, Inc		677
	72,008		Belo (A.H.) Corp (Class A)		352

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	167,818		Cablevision Systems Corp (Class A)	$	2,640
	502,970		CBS Corp (Class B)		10,251
	27,491	*,e	Central European Media Enterprises Ltd (Class A) Nasdaq		215
	43,790	*	Charter Communications, Inc		2,051
	70,211		Cinemark Holdings, Inc		1,326
	28,047	*	Clear Channel Outdoor Holdings, Inc (Class A)		263
	2,081,008		Comcast Corp (Class A)		43,493
	13,062	*,e	Crown Media Holdings, Inc (Class A)		19
	17,373	*,e	Cumulus Media, Inc (Class A)		49
	579,083	*	DIRECTV		24,466
	213,192	*	Discovery Communications, Inc (Class A)		8,020
	153,317		DISH Network Corp (Class A)		3,842
	54,653	*,e	DreamWorks Animation SKG, Inc (Class A)		994
	18,269	*,e	Entercom Communications Corp (Class A)		96
	38,482	*	Entravision Communications Corp (Class A)		39
	21,197	*,e	EW Scripps Co (Class A)		148
	5,404	*	Fisher Communications, Inc		121
	184,081		Gannett Co, Inc		1,754
	8,856	*	Global Sources Ltd		60
	37,922	*,e	Gray Television, Inc		59
	33,505		Harte-Hanks, Inc		284
	16,105	*,e	interCLICK, Inc		89
	376,254		Interpublic Group of Cos, Inc		2,709
	33,375		John Wiley & Sons, Inc (Class A)		1,483
	42,642	*	Journal Communications, Inc (Class A)		127
	23,300	*	Knology, Inc		302
	43,505	*,e	Lamar Advertising Co (Class A)		741
	207,281	*	Liberty Global, Inc (Class A)		7,499
	52,568	*	Liberty Interactive LLC		3,476
	38,482	*	Liberty Media Corp-Liberty Starz		2,446
	29,608	*	Lin TV Corp (Class A)		65
	40,329	*,e	Lions Gate Entertainment Corp		278
	108,249	*,e	Live Nation, Inc		867
	45,616	*	Madison Square Garden, Inc		1,040
	29,313	*,e	Martha Stewart Living Omnimedia, Inc (Class A)		91
	45,516	*,e	McClatchy Co (Class A)		61
	230,598		McGraw-Hill Cos, Inc		9,455
	19,518		MDC Partners, Inc		281
	26,535	e	Meredith Corp		601
	16,901		Morningstar, Inc		954
	40,500		National CineMedia, Inc		588
	104,815	*,e	New York Times Co (Class A)		609
	1,738,349		News Corp (Class A)		26,892
	7,914	*	Nexstar Broadcasting Group, Inc (Class A)		52
	213,171		Omnicom Group, Inc		7,853
	11,051		Outdoor Channel Holdings, Inc		63
	12,300	*	Pandora Media, Inc		180
	7,422	*,e	ReachLocal, Inc		81
	60,087		Regal Entertainment Group (Class A)		705
	7,217	*	Rentrak Corp		91
	2,741	*	Saga Communications, Inc		81
	22,736		Scholastic Corp		637

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	69,106		Scripps Networks Interactive (Class A)	$	2,569
	34,573		Sinclair Broadcast Group, Inc (Class A)		248
	2,997,389	*,e	Sirius XM Radio, Inc		4,526
	285,406		Thomson Corp		7,717
	254,382		Time Warner Cable, Inc		15,942
	810,703		Time Warner, Inc		24,297
	38,340	*,e	Valassis Communications, Inc		718
	444,170		Viacom, Inc (Class B)		17,207
	242,160		Virgin Media, Inc		5,897
	1,426,524		Walt Disney Co		43,024
	3,529	e	Washington Post Co (Class B)		1,154
	3,997	*	Westwood One, Inc		15
	18,692	e	World Wrestling Entertainment, Inc (Class A)		167
			TOTAL MEDIA		296,494
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.6%
	1,175,415		Abbott Laboratories		60,111
	30,051	*,e	Achillion Pharmaceuticals, Inc		142
	29,951	*	Acorda Therapeutics, Inc		598
	6,188	*,e	Acura Pharmaceuticals, Inc		21
	5,695	*	Aegerion Pharmaceuticals, Inc		72
	30,064	*	Affymax, Inc		135
	56,476	*	Affymetrix, Inc		277
	264,050	*	Agilent Technologies, Inc		8,252
	50,321	*	Akorn, Inc		393
	17,349	*	Albany Molecular Research, Inc		49
	138,256	*	Alexion Pharmaceuticals, Inc		8,856
	70,988	*	Alkermes PLC		1,083
	230,440		Allergan, Inc		18,984
	63,430	*	Allos Therapeutics, Inc		117
	27,380	*,e	Alnylam Pharmaceuticals, Inc		180
	16,995	*	AMAG Pharmaceuticals, Inc		251
	703,075		Amgen, Inc		38,633
	12,703	*,e	Amicus Therapeutics, Inc		49
	15,482	*,e	Ampio Pharmaceuticals, Inc		103
	96,782	*	Amylin Pharmaceuticals, Inc		893
	12,511	*,e	Anthera Pharmaceuticals, Inc		60
	12,961	*,e	Ardea Biosciences, Inc		202
	148,696	*,e	Arena Pharmaceuticals, Inc		216
	101,217	*,e	Ariad Pharmaceuticals, Inc		890
	40,003	*	Arqule, Inc		202
	33,623	*	Array Biopharma, Inc		66
	44,629	*	Astex Pharmaceuticals		86
	36,727	*	Auxilium Pharmaceuticals, Inc		551
	96,279	*,e	AVANIR Pharmaceuticals, Inc		275
	27,927	*,e	AVEO Pharmaceuticals, Inc		430
	98,905	*,e	AVI BioPharma, Inc		111
	22,254	*,e	BioCryst Pharmaceuticals, Inc		61
	182,645	*	Biogen Idec, Inc		17,012
	84,714	*	BioMarin Pharmaceuticals, Inc		2,700
	8,360	*	BioMimetic Therapeutics, Inc		28
	15,217	*	Bio-Rad Laboratories, Inc (Class A)		1,381

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	71,471	*,e	Biosante Pharmaceuticals, Inc	$	163
	2,885	*,e	Biospecifics Technologies Corp		47
	16,168	*,e	Biotime, Inc		71
	1,286,596		Bristol-Myers Squibb Co		40,373
	64,623	*	Bruker BioSciences Corp		874
	28,637	*,e	Cadence Pharmaceuticals, Inc		188
	34,601	*	Caliper Life Sciences, Inc		362
	20,927	*	Cambrex Corp		105
	349,491	*	Celgene Corp		21,639
	128,007	*,e	Cell Therapeutics, Inc		136
	24,391	*,e	Celldex Therapeutics, Inc		56
	56,902	*,e	Cephalon, Inc		4,592
	45,716	*	Cepheid, Inc		1,775
	39,385	*	Charles River Laboratories International, Inc		1,127
	50,100	*,e	Chelsea Therapeutics International, Inc		183
	17,313	*,e	Cleveland Biolabs, Inc		44
	19,275	*	Codexis, Inc		88
	56,439	*,e	Columbia Laboratories, Inc		110
	51,595	*,e	Combinatorx, Inc		51
	7,924	*,e	Complete Genomics, Inc		47
	19,348	*,e	Corcept Therapeutics, Inc		60
	5,072	*	Cornerstone Therapeutics, Inc		32
	46,271	*	Covance, Inc		2,103
	45,663	*	Cubist Pharmaceuticals, Inc		1,613
	47,886	*,e	Curis, Inc		151
	47,980	*,e	Cytori Therapeutics, Inc		142
	110,216	*,e	Dendreon Corp		992
	40,825	*	Depomed, Inc		220
	50,131	*	Durect Corp		81
	18,782	*	Dusa Pharmaceuticals, Inc		69
	69,074	*	Dyax Corp		87
	88,678	*,e	Dynavax Technologies Corp		165
	771,910		Eli Lilly & Co		28,538
	16,293	*	Emergent Biosolutions, Inc		251
	89,664	*	Endo Pharmaceuticals Holdings, Inc		2,510
	11,335	*	Endocyte, Inc		120
	18,855	*	Enzo Biochem, Inc		48
	31,349	*	Enzon Pharmaceuticals, Inc		221
	35,238	*	eResearch Technology, Inc		157
	44,787	*	Exact Sciences Corp		297
	97,774	*	Exelixis, Inc		534
	4,820	*,e	Fluidigm Corp		67
	216,110	*	Forest Laboratories, Inc		6,654
	7,338	*	Furiex Pharmaceuticals Inc		104
	11,423	*,e	Genomic Health, Inc		251
	88,925	*,e	Geron Corp		189
	592,986	*	Gilead Sciences, Inc		23,007
	14,714	*,e	GTx, Inc		49
	59,871	*	Halozyme Therapeutics, Inc		368
	16,723	*	Harvard Bioscience, Inc		71
	6,140	*	Hi-Tech Pharmacal Co, Inc		206
	126,136	*	Hospira, Inc		4,667

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	144,582	*	Human Genome Sciences, Inc	$	1,835
	41,403	*,e	Idenix Pharmaceuticals, Inc		207
	93,634	*,e	Illumina, Inc		3,832
	54,113	*,e	Immunogen, Inc		593
	54,649	*,e	Immunomedics, Inc		175
	49,816	*	Impax Laboratories, Inc		892
	67,377	*,e	Incyte Corp		941
	14,237	*,e	Infinity Pharmaceuticals, Inc		100
	36,185	*,e	Inhibitex, Inc		89
	19,213	*,e	Insmed, Inc		98
	37,443	*	InterMune, Inc		756
	38,336	*	Ironwood Pharmaceuticals, Inc		414
	74,058	*	Isis Pharmaceuticals, Inc		502
	19,803	*	ISTA Pharmaceuticals, Inc		68
	16,809	*	Jazz Pharmaceuticals, Inc		698
	2,071,974		Johnson & Johnson		132,006
	53,997	*,e	Keryx Biopharmaceuticals, Inc		162
	38,103	*,e	KV Pharmaceutical Co (Class A)		51
	7,363	*,e	Lannett Co, Inc		28
	154,334	*,e	Lexicon Pharmaceuticals, Inc		142
	136,670	*	Life Technologies Corp		5,252
	14,627	*	Ligand Pharmaceuticals, Inc (Class B)		200
	31,134	*,e	Luminex Corp		690
	55,893	*,e	MannKind Corp		212
	16,568	*	MAP Pharmaceuticals, Inc		242
	16,427	e	Maxygen, Inc		90
	41,466	*	Medicines Co		617
	47,245	e	Medicis Pharmaceutical Corp (Class A)		1,723
	27,156	*,e	Medivation, Inc		461
	5,876		Medtox Scientific, Inc		77
	2,333,347		Merck & Co, Inc		76,324
	25,691	*,e	Metabolix, Inc		113
	24,299	*	Mettler-Toledo International, Inc		3,401
	75,576	*,e	Micromet, Inc		363
	34,069	*,e	Momenta Pharmaceuticals, Inc		392
	332,461	*	Mylan Laboratories, Inc		5,652
	65,398	*	Myriad Genetics, Inc		1,226
	40,164	*	Nabi Biopharmaceuticals		67
	87,448	*	Nektar Therapeutics		424
	19,348	*,e	Neostem, Inc		13
	37,513	*	Neurocrine Biosciences, Inc		224
	69,550	*,e	Novavax, Inc		112
	62,195	*	NPS Pharmaceuticals, Inc		405
	15,169	*,e	Nymox Pharmaceutical Corp		124
	12,855	*	Obagi Medical Products, Inc		117
	7,745	*,e	OncoGenex Pharmaceutical, Inc		76
	31,842	*,e	Oncothyreon, Inc		190
	48,332	*	Onyx Pharmaceuticals, Inc		1,450
	69,903	*,e	Opko Health, Inc		303
	31,166	*,e	Optimer Pharmaceuticals, Inc		431
	23,670	*,e	Orexigen Therapeutics, Inc		47
	12,630	*,e	Osiris Therapeutics, Inc		65

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	26,111	*,e	Pacific Biosciences of California, Inc	$	84
	24,948	e	Pain Therapeutics, Inc		119
	26,028	*	Par Pharmaceutical Cos, Inc		693
	46,620	*	Parexel International Corp		883
	115,867	e	PDL BioPharma, Inc		643
	39,629	*,e	Peregrine Pharmaceuticals, Inc		43
	86,372		PerkinElmer, Inc		1,659
	61,479		Perrigo Co		5,970
	5,972,535		Pfizer, Inc		105,594
	75,577		Pharmaceutical Product Development, Inc		1,939
	35,539	*	Pharmacyclics, Inc		420
	57,030	*	Pharmasset, Inc		4,698
	25,992	*,e	PharmAthene, Inc		46
	15,548	*	Pozen, Inc		37
	15,641	*	Progenics Pharmaceuticals, Inc		90
	178,940	*,e	Qiagen N.V. (NASDAQ)		2,475
	40,523	*	Questcor Pharmaceuticals, Inc		1,105
	24,692	*,e	Raptor Pharmaceutical Corp		111
	55,800	*,e	Regeneron Pharmaceuticals, Inc		3,248
	52,596	*	Rigel Pharmaceuticals, Inc		387
	5,222	*,e	Sagent Pharmaceuticals		106
	44,827	*	Salix Pharmaceuticals Ltd		1,327
	45,925	*,e	Sangamo Biosciences, Inc		200
	40,020	*	Santarus, Inc		112
	60,281	*,e	Savient Pharmaceuticals, Inc		247
	28,586	*	Sciclone Pharmaceuticals, Inc		109
	72,220	*,e	Seattle Genetics, Inc		1,377
	87,069	*,e	Sequenom, Inc		443
	26,901	*,e	SIGA Technologies, Inc		88
	47,540	*	Spectrum Pharmaceuticals, Inc		363
	6,322	*,e	Sucampo Pharmaceuticals, Inc (Class A)		24
	11,524	*,e	Synta Pharmaceuticals Corp		37
	21,017	*	Targacept, Inc		315
	27,021		Techne Corp		1,838
	53,148	*,e	Theravance, Inc		1,070
	289,600	*	Thermo Electron Corp		14,666
	39,512	*	United Therapeutics Corp		1,481
	26,661	*	Vanda Pharmaceuticals, Inc		132
	156,727	*	Vertex Pharmaceuticals, Inc		6,981
	44,579	*,e	Vical, Inc		111
	60,661	*	Viropharma, Inc		1,096
	62,291	*,e	Vivus, Inc		503
	128,177		Warner Chilcott plc		1,833
	70,145	*	Waters Corp		5,295
	95,597	*	Watson Pharmaceuticals, Inc		6,524
	22,676	*,e	Xenoport, Inc		134
	54,772	*,e	ZIOPHARM Oncology, Inc		242
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		731,095
REAL ESTATE - 3.1%
	30,272		Acadia Realty Trust		566
	4,700	*	AG Mortgage Investment Trust		88

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,360	e	Agree Realty Corp	$	226
	1,574	e	Alexander’s, Inc		568
	46,674		Alexandria Real Estate Equities, Inc		2,865
	345,824		AMB Property Corp		8,386
	24,506		American Assets Trust, Inc		440
	51,788		American Campus Communities, Inc		1,927
	131,312	e	American Capital Agency Corp		3,559
	714,434		Annaly Capital Management, Inc		11,880
	96,360		Anworth Mortgage Asset Corp		655
	90,448		Apartment Investment & Management Co (Class A)		2,001
	13,700	e	Apollo Commercial Real Estate Finance, Inc		180
	38,135	*,e	ARMOUR Residential REIT, Inc		259
	36,163	e	Ashford Hospitality Trust, Inc		254
	38,683	e	Associated Estates Realty Corp		598
	70,799		AvalonBay Communities, Inc		8,075
	7,072	*,e	Avatar Holdings, Inc		58
	99,685		BioMed Realty Trust, Inc		1,652
	110,472		Boston Properties, Inc		9,843
	101,192	e	Brandywine Realty Trust		811
	55,761		BRE Properties, Inc (Class A)		2,361
	52,573		Camden Property Trust		2,905
	23,300	e	Campus Crest Communities, Inc		254
	54,804		Capital Lease Funding, Inc		198
	59,367	e	Capstead Mortgage Corp		685
	113,740	e	CBL & Associates Properties, Inc		1,292
	223,662	*	CBRE Group, Inc		3,010
	41,738	e	Cedar Shopping Centers, Inc		130
	10,703		Chatham Lodging Trust		106
	24,872		Chesapeake Lodging Trust		300
	757,920	e	Chimera Investment Corp		2,099
	39,627		Cogdell Spencer, Inc		149
	66,987		Colonial Properties Trust		1,216
	25,359	e	Colony Financial, Inc		328
	4,977	e	Consolidated-Tomoka Land Co		131
	15,000		Coresite Realty		215
	54,562	e	Corporate Office Properties Trust		1,188
	67,154		Cousins Properties, Inc		393
	44,020	e	CreXus Investment Corp		391
	82,463	*	CubeSmart		703
	69,256	e	CYS Investments, Inc		837
	189,300	e	DCT Industrial Trust, Inc		831
	156,133	e	DDR Corp		1,702
	131,313		DiamondRock Hospitality Co		918
	72,895	e	Digital Realty Trust, Inc		4,021
	94,119	e	Douglas Emmett, Inc		1,609
	192,154		Duke Realty Corp		2,018
	45,206	e	DuPont Fabros Technology, Inc		890
	31,087	e	Dynex Capital, Inc		251
	20,779	e	EastGroup Properties, Inc		793
	56,527	e	Education Realty Trust, Inc		486
	35,904		Entertainment Properties Trust		1,400
	19,332		Equity Lifestyle Properties, Inc		1,212

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	40,925	e	Equity One, Inc	$	649
	223,532		Equity Residential		11,595
	24,154		Essex Property Trust, Inc		2,899
	11,724	e	Excel Trust, Inc		113
	71,827	e	Extra Space Storage, Inc		1,338
	46,443		Federal Realty Investment Trust		3,827
	102,427	*	FelCor Lodging Trust, Inc		239
	62,210	*	First Industrial Realty Trust, Inc		498
	38,591	e	First Potomac Realty Trust		481
	104,902	*	Forest City Enterprises, Inc (Class A)		1,118
	29,389	*	Forestar Real Estate Group, Inc		321
	56,329	e	Franklin Street Properties Corp		637
	431,127		General Growth Properties, Inc		5,217
	18,098	e	Getty Realty Corp		261
	6,667	e	Gladstone Commercial Corp		105
	82,965		Glimcher Realty Trust		587
	24,781	e	Government Properties Income Trust		533
	56,136	e	Hatteras Financial Corp		1,412
	309,882		HCP, Inc		10,864
	137,306		Health Care REIT, Inc		6,426
	55,374	e	Healthcare Realty Trust, Inc		933
	104,583		Hersha Hospitality Trust		362
	54,288	e	Highwoods Properties, Inc		1,534
	36,266	e	Home Properties, Inc		2,058
	94,278		Hospitality Properties Trust		2,002
	524,013		Host Marriott Corp		5,733
	16,459	*	Howard Hughes Corp		693
	55,294		HRPT Properties Trust		1,049
	14,600	e	Hudson Pacific Properties		170
	64,150	e	Inland Real Estate Corp		468
	80,500		Invesco Mortgage Capital, Inc		1,137
	61,579	e	Investors Real Estate Trust		443
	71,105	*,e	iStar Financial, Inc		414
	32,173		Jones Lang LaSalle, Inc		1,667
	16,390	e	Kennedy-Wilson Holdings, Inc		174
	45,316	e	Kilroy Realty Corp		1,418
	312,567		Kimco Realty Corp		4,698
	35,097	e	Kite Realty Group Trust		128
	65,968	e	LaSalle Hotel Properties		1,267
	87,513	e	Lexington Corporate Properties Trust		572
	88,122	e	Liberty Property Trust		2,565
	21,755		LTC Properties, Inc		551
	99,256		Macerich Co		4,231
	67,066	e	Mack-Cali Realty Corp		1,794
	37,179	*	Maguire Properties, Inc		78
	86,187		Medical Properties Trust, Inc		771
	267,655		MFA Mortgage Investments, Inc		1,879
	27,705		Mid-America Apartment Communities, Inc		1,668
	14,218	e	Mission West Properties, Inc		108
	20,723	e	Monmouth Real Estate Investment Corp (Class A)		164
	20,485	e	National Health Investors, Inc		863
	67,418		National Retail Properties, Inc		1,812

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	50,379	e	Newcastle Investment Corp	$	205
	63,283	e	NorthStar Realty Finance Corp		209
	32,022	e	NRDC Acquisition Corp		355
	76,065		Omega Healthcare Investors, Inc		1,212
	6,398	e	One Liberty Properties, Inc		94
	16,523	e	Parkway Properties, Inc		182
	36,600	e	Pebblebrook Hotel Trust		573
	46,426		Pennsylvania Real Estate Investment Trust		359
	21,080		Pennymac Mortgage Investment Trust		335
	130,905	e	Piedmont Office Realty Trust, Inc		2,117
	120,633		Plum Creek Timber Co, Inc		4,187
	38,129		Post Properties, Inc		1,325
	30,874		Potlatch Corp		973
	13,382		PS Business Parks, Inc		663
	106,468		Public Storage, Inc		11,854
	21,923	e	RAIT Investment Trust		74
	29,459	e	Ramco-Gershenson Properties		242
	92,230		Rayonier, Inc		3,393
	95,037	e	Realty Income Corp		3,064
	60,300	e	Redwood Trust, Inc		674
	69,743		Regency Centers Corp		2,464
	48,367	e	Resource Capital Corp		242
	20,274	e	RLJ Lodging Trust		259
	19,029		Sabra Healthcare REIT, Inc		182
	6,582	e	Saul Centers, Inc		223
	108,382	e	Senior Housing Properties Trust		2,335
	222,237		Simon Property Group, Inc		24,441
	61,937		SL Green Realty Corp		3,602
	21,282	e	Sovran Self Storage, Inc		791
	49,920	*,e	St. Joe Co		748
	12,552	e	STAG Industrial, Inc		128
	72,400		Starwood Property Trust, Inc		1,242
	134,064	*	Strategic Hotels & Resorts, Inc		578
	16,200	e	Summit Hotel Properties, Inc		114
	16,244	e	Sun Communities, Inc		572
	89,758	*	Sunstone Hotel Investors, Inc		511
	64,882		Tanger Factory Outlet Centers, Inc		1,688
	42,522		Taubman Centers, Inc		2,139
	11,747	*	Tejon Ranch Co		280
	6,500	e	Terreno Realty Corp		83
	106,189		Two Harbors Investment Corp		938
	162,214	e	UDR, Inc		3,591
	6,794	e	UMH Properties, Inc		62
	10,285		Universal Health Realty Income Trust		346
	19,529		Urstadt Biddle Properties, Inc (Class A)		312
	191,957		Ventas, Inc		9,483
	139,893		Vornado Realty Trust		10,439
	49,089		Washington Real Estate Investment Trust		1,383
	92,487	e	Weingarten Realty Investors		1,958
	407,759		Weyerhaeuser Co		6,341
	6,173	e	Whitestone REIT		69
	24,416	e	Winthrop Realty Trust		212
			TOTAL REAL ESTATE		292,283

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
RETAILING - 4.0%
	14,742	*	1-800-FLOWERS.COM, Inc (Class A)	$	34
	34,292	*	99 Cents Only Stores		632
	61,275		Aaron’s, Inc		1,547
	67,299		Abercrombie & Fitch Co (Class A)		4,143
	57,625		Advance Auto Parts, Inc		3,348
	61,843	*,e	Aeropostale, Inc		669
	274,960	*	Amazon.com, Inc		59,454
	149,222		American Eagle Outfitters, Inc		1,749
	6,968	*	America’s Car-Mart, Inc		202
	39,729	*	Ann Taylor Stores Corp		907
	19,614	*	Asbury Automotive Group, Inc		323
	10,900	*	Audiovox Corp (Class A)		60
	31,301	*,e	Autonation, Inc		1,026
	20,083	*	Autozone, Inc		6,410
	23,047	e	Barnes & Noble, Inc		273
	23,033		Bebe Stores, Inc		155
	188,717	*	Bed Bath & Beyond, Inc		10,815
	238,182	e	Best Buy Co, Inc		5,550
	15,894		Big 5 Sporting Goods Corp		97
	54,783	*	Big Lots, Inc		1,908
	8,066	*,e	Blue Nile, Inc		285
	8,762	*	Body Central Corp		159
	9,116	e	Bon-Ton Stores, Inc		45
	32,106	e	Brown Shoe Co, Inc		229
	19,480	e	Buckle, Inc		749
	10,668	*,e	Build-A-Bear Workshop, Inc		54
	31,259	*	Cabela’s, Inc		640
	168,507	*	Carmax, Inc		4,019
	32,976	*	Casual Male Retail Group, Inc		124
	21,208		Cato Corp (Class A)		478
	88,714	*,e	Charming Shoppes, Inc		231
	136,364		Chico’s FAS, Inc		1,559
	20,820	*,e	Children’s Place Retail Stores, Inc		969
	27,159		Christopher & Banks Corp		96
	12,866	*	Citi Trends, Inc		151
	46,768	*	Coldwater Creek, Inc		58
	48,995	*,e	Collective Brands, Inc		635
	12,208	*,e	Conn’s, Inc		88
	8,334	*	Core-Mark Holding Co, Inc		255
	14,401	*,e	Cost Plus, Inc		91
	7,524		Destination Maternity Corp		97
	72,153	*	Dick’s Sporting Goods, Inc		2,414
	25,912	e	Dillard’s, Inc (Class A)		1,127
	74,326	*	Dollar General Corp		2,807
	91,848	*	Dollar Tree, Inc		6,899
	16,500		DSW, Inc (Class A)		762
	143,983		Expedia, Inc		3,708
	41,844		Express Parent LLC		849
	91,780		Family Dollar Stores, Inc		4,668

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	39,004		Finish Line, Inc (Class A)	$	780
	118,869		Foot Locker, Inc		2,388
	7,500	*	Francesca’s Holdings Corp		159
	29,664		Fred’s, Inc (Class A)		316
	108,324	*,e	GameStop Corp (Class A)		2,502
	266,695		Gap, Inc		4,331
	18,687	*	Genesco, Inc		963
	118,350		Genuine Parts Co		6,012
	16,735	*,e	GNC Holdings, Inc		337
	3,931	*,e	Gordmans Stores, Inc		47
	16,517	e	Group 1 Automotive, Inc		587
	47,951		Guess?, Inc		1,366
	16,062		Haverty Furniture Cos, Inc		160
	13,509	*,e	hhgregg, Inc		132
	20,590	*,e	Hibbett Sports, Inc		698
	1,204,931		Home Depot, Inc		39,607
	6,500	*	HomeAway, Inc		219
	36,184		Hot Topic, Inc		276
	30,139	*	HSN, Inc		999
	126,540	e	JC Penney Co, Inc		3,389
	19,864	*	JOS A Bank Clothiers, Inc		926
	13,001	*	Kirkland’s, Inc		119
	203,304		Kohl’s Corp		9,982
	453,658	*	Liberty Media Holding Corp (Interactive A)		6,701
	188,193		Limited Brands, Inc		7,247
	20,412	e	Lithia Motors, Inc (Class A)		294
	110,420	*	LKQ Corp		2,668
	985,152		Lowe’s Cos, Inc		19,054
	16,815	*,e	Lumber Liquidators, Inc		254
	321,128		Macy’s, Inc		8,452
	16,477	*	MarineMax, Inc		107
	35,909		Men’s Wearhouse, Inc		937
	22,581		Monro Muffler, Inc		744
	39,734	*	NetFlix, Inc		4,496
	13,306	*	New York & Co, Inc		42
	124,877		Nordstrom, Inc		5,704
	20,499		Nutri/System, Inc		248
	212,310	*	Office Depot, Inc		437
	64,982	*	OfficeMax, Inc		315
	23,547	*	Orbitz Worldwide, Inc		51
	102,656	*	O’Reilly Automotive, Inc		6,840
	11,517	*,e	Overstock.com, Inc		107
	47,625	*,e	Pacific Sunwear Of California, Inc		57
	30,900		Penske Auto Group, Inc		494
	37,199		PEP Boys - Manny Moe & Jack		367
	6,350	e	PetMed Express, Inc		57
	86,299		Petsmart, Inc		3,681
	81,262	*	Pier 1 Imports, Inc		795
	37,423	*	Priceline.com, Inc		16,819
	78,808		RadioShack Corp		916
	48,714		Rent-A-Center, Inc		1,337
	88,626		Ross Stores, Inc		6,974

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,225	*,e	Rue21, Inc	$	255
	88,313	*,e	Saks, Inc		773
	72,533	*	Sally Beauty Holdings, Inc		1,204
	28,136	*,e	Sears Holdings Corp		1,618
	36,072	*	Select Comfort Corp		504
	6,965	*	Shoe Carnival, Inc		164
	22,139	*	Shutterfly, Inc		912
	65,800	*	Signet Jewelers Ltd		2,224
	27,187	e	Sonic Automotive, Inc (Class A)		293
	3,181	*	Sourceforge, Inc		64
	30,798		Stage Stores, Inc		427
	539,841		Staples, Inc		7,180
	17,973		Stein Mart, Inc		112
	9,938		Systemax, Inc		126
	54,244	*,e	Talbots, Inc		146
	521,499		Target Corp		25,574
	5,400	*	Teavana Holdings, Inc		110
	97,585		Tiffany & Co		5,935
	291,314		TJX Companies, Inc		16,160
	54,506		Tractor Supply Co		3,409
	21,617	*	Tuesday Morning Corp		76
	34,631	*	Ulta Salon Cosmetics & Fragrance, Inc		2,155
	90,986	*	Urban Outfitters, Inc		2,031
	9,604	*	US Auto Parts Network, Inc		49
	31,872	*	Valuevision International, Inc (Class A)		75
	19,111	*	Vitamin Shoppe, Inc		716
	11,292	*	West Marine, Inc		87
	73,584	*	Wet Seal, Inc (Class A)		330
	80,479		Williams-Sonoma, Inc		2,478
	1,945		Winmark Corp		90
	24,636	*,e	Zale Corp		70
	17,544	*,e	Zumiez, Inc		307
			TOTAL RETAILING		381,692
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.7%
	25,828	*	Advanced Analogic Technologies, Inc		112
	29,482	*	Advanced Energy Industries, Inc		254
	466,383	*	Advanced Micro Devices, Inc		2,369
	11,245	*	Alpha & Omega Semiconductor Lt		92
	244,350		Altera Corp		7,704
	86,945	*,e	Amkor Technology, Inc		379
	7,247	*,e	Amtech Systems, Inc		58
	47,982	*,e	Anadigics, Inc		104
	226,802		Analog Devices, Inc		7,088
	989,600		Applied Materials, Inc		10,242
	51,846	*	Applied Micro Circuits Corp		278
	351,660	*	Atmel Corp		2,838
	24,963	*	ATMI, Inc		395
	141,941		Avago Technologies Ltd		4,651
	61,290	*	Axcelis Technologies, Inc		74
	23,951	*	AXT, Inc		121
	404,673		Broadcom Corp (Class A)		13,472

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	52,087		Brooks Automation, Inc	$	425
	17,924	*	Cabot Microelectronics Corp		616
	36,515	*	Cavium Networks, Inc		986
	18,075	*	Ceva, Inc		439
	50,384	*,e	Cirrus Logic, Inc		743
	15,857		Cohu, Inc		157
	80,481	*,e	Cree, Inc		2,091
	6,193	*	CSR plc (ADR)		83
	23,525	*	Cymer, Inc		875
	128,589		Cypress Semiconductor Corp		1,925
	28,713	*	Diodes, Inc		515
	21,955	*	DSP Group, Inc		130
	105,554	*	Entegris, Inc		673
	59,143	*,e	Entropic Communications, Inc		244
	25,111	*	Exar Corp		143
	95,996	*	Fairchild Semiconductor International, Inc		1,037
	44,208	*,e	First Solar, Inc		2,794
	34,973	*	Formfactor, Inc		218
	31,290	*	Freescale Semiconductor Holdings Ltd		345
	12,025	*	FSI International, Inc		23
	13,134	*	GSI Technology, Inc		65
	94,807	*,e	GT Solar International, Inc		666
	22,180	*	Hittite Microwave Corp		1,080
	15,509	*	Inphi Corp		136
	110,719	*	Integrated Device Technology, Inc		570
	19,660	*	Integrated Silicon Solution, Inc		154
	4,001,445		Intel Corp		85,350
	54,670	*	International Rectifier Corp		1,018
	94,162		Intersil Corp (Class A)		969
	16,725	*	IXYS Corp		182
	128,607		Kla-Tencor Corp		4,923
	50,517	*	Kopin Corp		173
	53,200	*	Kulicke & Soffa Industries, Inc		397
	94,102	*	Lam Research Corp		3,574
	90,159	*	Lattice Semiconductor Corp		473
	172,947		Linear Technology Corp		4,782
	463,465	*	LSI Logic Corp		2,401
	37,527	*	LTX-Credence Corp		199
	378,552	*	Marvell Technology Group Ltd		5,500
	226,036		Maxim Integrated Products, Inc		5,273
	12,640	*	MaxLinear, Inc		82
	172,909	*	MEMC Electronic Materials, Inc		906
	40,439		Micrel, Inc		383
	144,577	e	Microchip Technology, Inc		4,498
	661,530	*	Micron Technology, Inc		3,334
	65,939	*	Microsemi Corp		1,054
	24,281	*,e	Mindspeed Technologies, Inc		126
	39,820	*,e	MIPS Technologies, Inc		193
	38,788		MKS Instruments, Inc		842
	21,310	*,e	Monolithic Power Systems, Inc		217
	20,301	*,e	MoSys, Inc		74
	13,765	*	Nanometrics, Inc		200

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	52,264	*	Netlogic Microsystems, Inc	$	2,514
	52,784	*	Novellus Systems, Inc		1,439
	3,184	*,e	NVE Corp		193
	452,420	*	Nvidia Corp		5,655
	42,750	*	Omnivision Technologies, Inc		600
	334,921	*	ON Semiconductor Corp		2,401
	17,237	*,e	PDF Solutions, Inc		70
	19,298	*	Pericom Semiconductor Corp		143
	46,544	*,e	Photronics, Inc		232
	26,715	*	PLX Technology, Inc		80
	173,538	*	PMC - Sierra, Inc		1,038
	22,028	e	Power Integrations, Inc		674
	74,010	*,e	Rambus, Inc		1,036
	209,504	*	RF Micro Devices, Inc		1,328
	11,027	*	Rubicon Technology, Inc		121
	20,900	*	Rudolph Technologies, Inc		140
	50,038	*	Semtech Corp		1,056
	27,850	*	Sigma Designs, Inc		218
	56,384	*	Silicon Image, Inc		331
	32,688	*,e	Silicon Laboratories, Inc		1,095
	143,829	*	Skyworks Solutions, Inc		2,580
	38,295	*	Spansion, Inc		468
	18,903	*,e	Standard Microsystems Corp		367
	69,345	*,e	Sunpower Corp (Class A)		561
	8,595	*	Supertex, Inc		149
	138,239	*,e	Teradyne, Inc		1,522
	36,930	*	Tessera Technologies, Inc		441
	877,245		Texas Instruments, Inc		23,379
	121,131	*	Triquint Semiconductor, Inc		608
	17,159	*	Ultra Clean Holdings		74
	18,851	*	Ultratech, Inc		323
	56,064	*	Varian Semiconductor Equipment Associates, Inc		3,428
	31,233	*,e	Veeco Instruments, Inc		762
	18,190	*	Volterra Semiconductor Corp		350
	199,973		Xilinx, Inc		5,487
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		255,350
SOFTWARE & SERVICES - 9.4%
	38,595	*	Accelrys, Inc		234
	485,564		Accenture plc		25,581
	27,282	*	ACI Worldwide, Inc		751
	9,202	*,e	Active Network, Inc		136
	323,808		Activision Blizzard, Inc		3,853
	40,528	*	Actuate Corp		224
	62,110	*	Acxiom Corp		661
	381,125	*	Adobe Systems, Inc		9,212
	24,736	*	Advent Software, Inc		516
	143,070	*	Akamai Technologies, Inc		2,844
	39,116	*	Alliance Data Systems Corp		3,626
	138,680	*	Amdocs Ltd		3,761
	15,720		American Software, Inc (Class A)		114
	23,866	*,e	Ancestry.com, Inc		561

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	70,574	*	Ansys, Inc	$	3,461
	80,190	*	AOL, Inc		962
	74,946	*	Ariba, Inc		2,077
	63,576	*	Aspen Technology, Inc		971
	173,236	*	Autodesk, Inc		4,812
	378,100		Automatic Data Processing, Inc		17,828
	17,200	*	Bankrate, Inc		262
	35,258		Blackbaud, Inc		785
	27,255	*,e	Blackboard, Inc		1,217
	135,036	*	BMC Software, Inc		5,207
	16,977	*	Booz Allen Hamilton Holding Co		252
	24,349	*	Bottomline Technologies, Inc		490
	90,770		Broadridge Financial Solutions, Inc		1,828
	16,789	*,e	BroadSoft, Inc		510
	288,789		CA, Inc		5,605
	23,036	*	CACI International, Inc (Class A)		1,150
	201,713	*	Cadence Design Systems, Inc		1,864
	23,561	*,e	Callidus Software, Inc		109
	32,719	*	Cardtronics, Inc		750
	6,400	e	Cass Information Systems, Inc		199
	52,926	*	Ciber, Inc		160
	142,733	*	Citrix Systems, Inc		7,783
	10,743	*,m	Clinical Data, Inc		10
	229,932	*	Cognizant Technology Solutions Corp (Class A)		14,417
	33,451	*	Commvault Systems, Inc		1,240
	116,063		Computer Sciences Corp		3,116
	11,045	*	Computer Task Group, Inc		123
	173,306	*	Compuware Corp		1,328
	24,577	*	comScore, Inc		415
	34,178	*,e	Concur Technologies, Inc		1,272
	21,930	*,e	Constant Contact, Inc		379
	80,273	*	Convergys Corp		753
	9,530	*	Convio, Inc		80
	8,741	*,e	Cornerstone OnDemand, Inc		110
	28,626	*	CSG Systems International, Inc		362
	30,663	*	DealerTrack Holdings, Inc		480
	13,498	*,e	Deltek, Inc		81
	6,000	*	Demand Media, Inc		48
	25,056	*,e	DemandTec, Inc		164
	37,330	*	Dice Holdings, Inc		292
	29,296	*	Digital River, Inc		607
	5,437	*	DMRC Corp		138
	27,367		DST Systems, Inc		1,199
	7,224	*,e	Dynamics Research Corp		64
	82,942		Earthlink, Inc		542
	869,111	*	eBay, Inc		25,629
	23,473	*,e	Ebix, Inc		345
	7,871	*,e	Echo Global Logistics, Inc		105
	250,141	*	Electronic Arts, Inc		5,115
	15,051	*	Envestnet, Inc		151
	25,591		EPIQ Systems, Inc		321
	2,603	*	ePlus, Inc		64

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	35,741	*	Equinix, Inc	$	3,175
	36,402	*	Euronet Worldwide, Inc		573
	13,663	*	ExlService Holdings, Inc		301
	34,865		Factset Research Systems, Inc		3,102
	30,409		Fair Isaac Corp		664
	22,225	*	FalconStor Software, Inc		65
	197,402		Fidelity National Information Services, Inc		4,801
	74,050	*	First American Corp		790
	108,079	*	Fiserv, Inc		5,487
	11,158	*	FleetCor Technologies, Inc		293
	11,266		Forrester Research, Inc		366
	86,075	*	Fortinet, Inc		1,446
	74,422	*	Gartner, Inc		2,595
	96,351	*	Genpact Ltd		1,386
	19,206	*,e,m	Gerber Scientific, Inc		0	^
	38,913	*	Global Cash Access, Inc		100
	60,916		Global Payments, Inc		2,460
	49,882	*,e	Glu Mobile, Inc		105
	190,272	*	Google, Inc (Class A)		97,871
	9,927	*	Guidance Software, Inc		64
	30,102	*	Hackett Group, Inc		112
	28,656		Heartland Payment Systems, Inc		565
	58,809	*	IAC/InterActiveCorp		2,326
	23,666	e	iGate Corp		273
	80,970	*	Informatica Corp		3,316
	23,086	*	Infospace, Inc		193
	9,285	*	Interactive Intelligence, Inc		252
	34,783	*	Internap Network Services Corp		171
	915,501		International Business Machines Corp		160,241
	226,527	*	Intuit, Inc		10,746
	34,679		j2 Global Communications, Inc		933
	64,463		Jack Henry & Associates, Inc		1,868
	32,026	*	JDA Software Group, Inc		751
	20,173	*	Kenexa Corp		316
	10,875		Keynote Systems, Inc		230
	27,331	*,e	KIT Digital, Inc		230
	19,259	*	Knot, Inc		157
	68,025		Lender Processing Services, Inc		931
	50,961	*,e	Limelight Networks, Inc		120
	6,825	*,e	LinkedIn Corp		533
	44,720	*	Lionbridge Technologies		110
	14,351	*	Liquidity Services, Inc		460
	40,701	*	Liveperson, Inc		405
	15,508	*	LogMeIn, Inc		515
	12,620	*	LoopNet, Inc		216
	51,504	*	Magma Design Automation, Inc		234
	15,963	*	Manhattan Associates, Inc		528
	18,418		Mantech International Corp (Class A)		578
	16,386	e	Marchex, Inc (Class B)		139
	81,137		Mastercard, Inc (Class A)		25,734
	25,522		MAXIMUS, Inc		891
	73,403	*	Mentor Graphics Corp		706

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	60,589	*	Micros Systems, Inc	$	2,660
	5,609,324		Microsoft Corp		139,617
	6,006	*	MicroStrategy, Inc (Class A)		685
	33,165		ModusLink Global Solutions, Inc		116
	62,930	*	MoneyGram International, Inc		147
	27,277	*	Monotype Imaging Holdings, Inc		331
	95,930	*	Monster Worldwide, Inc		689
	27,889	*,e	Motricity, Inc		47
	117,341	*	Move, Inc		170
	7,188	*	NCI, Inc (Class A)		86
	25,316	*	Ness Technologies, Inc		194
	28,739	*	Netscout Systems, Inc		328
	20,451	*	NetSuite, Inc		552
	55,861	*	NeuStar, Inc (Class A)		1,404
	48,579		NIC, Inc		556
	178,400	*	Nuance Communications, Inc		3,632
	17,950	*,e	OpenTable, Inc		826
	63,876	*,e	Openwave Systems, Inc		100
	11,138		Opnet Technologies, Inc		389
	2,903,317		Oracle Corp		83,441
	90,859	*	Parametric Technology Corp		1,397
	243,091		Paychex, Inc		6,410
	12,459	e	Pegasystems, Inc		381
	20,679	*	Perficient, Inc		151
	14,513	*	PRG-Schultz International, Inc		69
	50,287	*	Progress Software Corp		883
	14,689	*	PROS Holdings, Inc		189
	3,320	*	QAD, Inc (Class A)		35
	53,768	*	QLIK Technologies, Inc		1,165
	47,293	*	Quest Software, Inc		751
	20,643	*	QuinStreet, Inc		214
	77,245	*	Rackspace Hosting, Inc		2,637
	29,852	*,e	RealD, Inc		279
	18,038		RealNetworks, Inc		152
	22,836	*	RealPage, Inc		467
	145,439	*	Red Hat, Inc		6,146
	10,418		Renaissance Learning, Inc		175
	7,378	*	Responsys, Inc		80
	17,574	*	RightNow Technologies, Inc		581
	8,173	*,e	Rosetta Stone, Inc		75
	85,331	*	Rovi Corp		3,668
	41,988	*	S1 Corp		385
	18,173	*	Saba Software, Inc		105
	211,037	*	SAIC, Inc		2,492
	100,810	*	Salesforce.com, Inc		11,521
	83,759		Sapient Corp		849
	9,258	*	Sciquest, Inc		138
	21,571	*	Seachange International, Inc		166
	7,451	*,e	ServiceSource International LLC		98
	20,806	*,e	Smith Micro Software, Inc		32
	43,415	*	SolarWinds, Inc		956
	53,861	e	Solera Holdings, Inc		2,720

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,938	*,e	Sourcefire, Inc	$	560
	6,377	*	SPS Commerce, Inc		104
	8,406	*	SRS Labs, Inc		60
	19,523	*	SS&C Technologies Holdings, Inc		279
	12,380		Stamps.com, Inc		253
	60,325	*,e	SuccessFactors, Inc		1,387
	32,388	*	SupportSoft, Inc		64
	570,729	*	Symantec Corp		9,303
	20,217	*	Synchronoss Technologies, Inc		504
	111,101	*	Synopsys, Inc		2,706
	11,726		Syntel, Inc		506
	24,737	*	TA Indigo Holding Corp		186
	54,620	*	Take-Two Interactive Software, Inc		695
	30,543	*	Taleo Corp (Class A)		786
	6,100	*	Tangoe, Inc		69
	4,323	*	TechTarget, Inc		25
	29,873	*	TeleCommunication Systems, Inc (Class A)		103
	12,644	*,e	TeleNav, Inc		112
	19,317	*,e	TeleTech Holdings, Inc		294
	128,452	*	Teradata Corp		6,876
	48,928	*,e	THQ, Inc		85
	124,754	*	TIBCO Software, Inc		2,793
	92,801	*	TiVo, Inc		867
	19,243	*	TNS, Inc		362
	121,982		Total System Services, Inc		2,065
	4,369	*,e	Travelzoo, Inc		96
	27,050	*,e	Tyler Technologies, Inc		684
	19,182	*	Ultimate Software Group, Inc		896
	32,818	*,e	Unisys Corp		515
	61,183		United Online, Inc		320
	62,276	*	Valueclick, Inc		969
	19,828	*	Vasco Data Security International		101
	76,311	*	VeriFone Systems, Inc		2,672
	14,384	*	Verint Systems, Inc		378
	127,769		VeriSign, Inc		3,655
	29,764	e	VirnetX Holding Corp		446
	11,849	*	Virtusa Corp		156
	395,597		Visa, Inc (Class A)		33,912
	33,510	*,e	VistaPrint Ltd		906
	63,347	*	VMware, Inc (Class A)		5,092
	11,624	*	Vocus, Inc		195
	60,808	*,e	Wave Systems Corp		142
	46,090	*	WebMD Health Corp (Class A)		1,390
	29,640	*	Websense, Inc		513
	22,635	*,e	Website Pros, Inc		158
	478,647		Western Union Co		7,319
	29,100	*	Wright Express Corp		1,107
	989,958	*	Yahoo!, Inc		13,027
	3,100	*	Zillow, Inc		85
	47,197	*	Zix Corp		126
			TOTAL SOFTWARE & SERVICES		896,971

307

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
TECHNOLOGY HARDWARE & EQUIPMENT - 6.6%
	41,025	*	Acme Packet, Inc	$	1,747
	49,633		Adtran, Inc		1,313
	18,766	*,e	Agilysys, Inc		134
	133,451		Amphenol Corp (Class A)		5,441
	14,600	*	Anaren, Inc		280
	21,570		Anixter International, Inc		1,023
	699,016	*	Apple, Inc		266,452
	94,272	*	Arris Group, Inc		971
	89,079	*	Arrow Electronics, Inc		2,475
	65,293	*,e	Aruba Networks, Inc		1,365
	24,879	*	Avid Technology, Inc		193
	115,335	*	Avnet, Inc		3,008
	34,410		AVX Corp		408
	15,077	*	AX Holding Corp		137
	7,316		Bel Fuse, Inc (Class B)		114
	29,704	*	Benchmark Electronics, Inc		386
	24,403	*	BigBand Networks, Inc		31
	13,787		Black Box Corp		294
	32,159	*	Blue Coat Systems, Inc		446
	30,312	*,e	Bookham, Inc		110
	53,964	*	Brightpoint, Inc		497
	362,901	*	Brocade Communications Systems, Inc		1,568
	28,887	*,e	Calix Networks, Inc		225
	30,668	*	Checkpoint Systems, Inc		416
	70,799	*,e	Ciena Corp		793
	4,150,940		Cisco Systems, Inc		64,299
	32,766		Cognex Corp		888
	19,403	*	Coherent, Inc		834
	5,175		Communications Systems, Inc		67
	22,382		Comtech Telecommunications Corp		629
	1,187,054		Corning, Inc		14,671
	22,453	*	Cray, Inc		119
	23,637		CTS Corp		192
	22,322		Daktronics, Inc		192
	10,171		DDi Corp		74
	1,231,693	*	Dell, Inc		17,428
	20,194	*	DG FastChannel, Inc		342
	47,853		Diebold, Inc		1,316
	18,652	*	Digi International, Inc		205
	41,327	*	Dolby Laboratories, Inc (Class A)		1,134
	44,988	*	Dot Hill Systems Corp		68
	15,044	*	DTS, Inc		374
	24,998	*,e	Echelon Corp		175
	28,785	*	EchoStar Corp (Class A)		651
	11,677		Electro Rent Corp		161
	17,062	*	Electro Scientific Industries, Inc		203
	39,428	*	Electronics for Imaging, Inc		531
	12,190	*,e	eMagin Corp		32
	1,551,021	*	EMC Corp		32,556
	35,109	*,e	EMCORE Corp		35
	65,177	*	Emulex Corp		417

308

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	89,895	*	Extreme Networks, Inc	$	238
	61,700	*	F5 Networks, Inc		4,384
	15,539	*,e	Fabrinet		291
	12,851	*	FARO Technologies, Inc		405
	29,895	*	FEI Co		896
	65,242	*	Finisar Corp		1,144
	118,407		Flir Systems, Inc		2,966
	12,700	*	Fusion-io, Inc		241
	14,375	*	Globecomm Systems, Inc		194
	20,123	*	GSI Group, Inc		155
	85,574	*	Harmonic, Inc		365
	94,007	e	Harris Corp		3,212
	42,057	*	Harris Stratex Networks, Inc (Class A)		99
	1,502,129		Hewlett-Packard Co		33,723
	21,588	*	Imation Corp		158
	18,659	*	Immersion Corp		112
	88,583	*,e	Infinera Corp		684
	116,956	*	Ingram Micro, Inc (Class A)		1,887
	34,716	*	Insight Enterprises, Inc		526
	32,759	e	InterDigital, Inc		1,526
	45,111	*	Intermec, Inc		294
	14,156	*	Intevac, Inc		99
	21,046	*	IPG Photonics Corp		914
	31,091	*	Itron, Inc		917
	29,634	*	Ixia		227
	147,311		Jabil Circuit, Inc		2,621
	165,013	*	JDS Uniphase Corp		1,645
	401,021	*	Juniper Networks, Inc		6,922
	33,781	*	Kemet Corp		242
	10,929	*	KVH Industries, Inc		86
	12,911	*	LeCroy Corp		102
	60,595	*	Lexmark International, Inc (Class A)		1,638
	17,104		Littelfuse, Inc		688
	8,072	*	Loral Space & Communications, Inc		404
	22,942	*,e	Maxwell Technologies, Inc		422
	11,532	*	Measurement Specialties, Inc		299
	23,128	*	Mercury Computer Systems, Inc		266
	8,476	*,e	Meru Networks, Inc		69
	28,385		Methode Electronics, Inc		211
	60,310	*,e	Microvision, Inc		41
	103,296	e	Molex, Inc		2,104
	194,156	*	Motorola Mobility Holdings, Inc		7,335
	228,165		Motorola, Inc		9,560
	13,932		MTS Systems Corp		427
	9,079	*	Multi-Fineline Electronix, Inc		181
	69,482		National Instruments Corp		1,588
	122,276	*	NCR Corp		2,065
	6,600	*,e	NeoPhotonics Corp Ltd		45
	277,187	*	NetApp, Inc		9,408
	28,803	*	Netgear, Inc		746
	27,910	*	Newport Corp		302
	26,247	*,e	Novatel Wireless, Inc		79

309

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,509	*	Numerex Corp	$	42
	38,785	*,e	OCZ Technology Group, Inc		188
	15,398	*	Oplink Communications, Inc		233
	39,024	*	OpNext, Inc		49
	28,044	*	Orbcomm, Inc		72
	14,702	*	OSI Systems, Inc		493
	18,452		Park Electrochemical Corp		394
	6,868	*	PC Connection, Inc		55
	37,039		Plantronics, Inc		1,054
	27,845	*	Plexus Corp		630
	135,032	*	Polycom, Inc		2,481
	53,353	*,e	Power-One, Inc		240
	93,835	*,e	Powerwave Technologies, Inc		161
	8,810	*	Procera Networks, Inc		85
	79,841	*	QLogic Corp		1,012
	1,260,034		Qualcomm, Inc		61,276
	171,155	*	Quantum Corp		310
	25,143	*,e	Rackable Systems, Inc		300
	15,185	*	Radisys Corp		93
	11,626		Richardson Electronics Ltd		158
	7,282		Rimage Corp		92
	117,498	*,e	Riverbed Technology, Inc		2,345
	21,664	*	Rofin-Sinar Technologies, Inc		416
	12,342	*	Rogers Corp		483
	180,113	*	SanDisk Corp		7,268
	61,646	*	Sanmina-SCI Corp		412
	22,159	*	Scansource, Inc		655
	28,820	*	SCM Microsystems, Inc		57
	31,292	*	ShoreTel, Inc		156
	165,491	*	Sonus Networks, Inc		359
	20,704	*,e	STEC, Inc		210
	15,369	*,e	Stratasys, Inc		285
	20,839	*	Super Micro Computer, Inc		261
	14,861		Sycamore Networks, Inc		268
	35,188	*	Symmetricom, Inc		153
	26,694	*,e	Synaptics, Inc		638
	16,588	*	SYNNEX Corp		435
	35,560	*	Tech Data Corp		1,537
	38,313	e	Technitrol, Inc		110
	50,795	*	Tekelec		307
	277,614		Tellabs, Inc		1,191
	94,008	*	Trimble Navigation Ltd		3,154
	41,884	*	TTM Technologies, Inc		398
	29,474	*,e	Universal Display Corp		1,413
	27,617	*	Viasat, Inc		920
	3,408	*,e	Viasystems Group, Inc		60
	119,020	*	Vishay Intertechnology, Inc		995
	9,508	*	Vishay Precision Group, Inc		125
	40,762	*	Westell Technologies, Inc		88
	175,363	*	Western Digital Corp		4,510
	1,063,212		Xerox Corp		7,411
	25,096	*	X-Rite, Inc		94

310

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,047	e	Xyratex Ltd	$	214
	41,665	*	Zebra Technologies Corp (Class A)		1,289
	12,959	*	Zygo Corp		150
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		640,358
TELECOMMUNICATION SERVICES - 3.0%
	46,463	*,e	8x8, Inc		189
	16,682		AboveNet, Inc		894
	39,332	e	Alaska Communications Systems Group, Inc		258
	299,404	*	American Tower Corp (Class A)		16,108
	4,476,420		AT&T, Inc		127,668
	7,918		Atlantic Tele-Network, Inc		260
	20,132	*,e	Cbeyond Communications, Inc		142
	462,109		CenturyTel, Inc		15,305
	168,115	*	Cincinnati Bell, Inc		519
	136,103	*,e	Clearwire Corp (Class A)		317
	35,274	*	Cogent Communications Group, Inc		474
	20,626		Consolidated Communications Holdings, Inc		372
	219,871	*	Crown Castle International Corp		8,942
	16,551	*,e	Fairpoint Communications, Inc		71
	762,890	e	Frontier Communications Corp		4,661
	38,028	*	General Communication, Inc (Class A)		312
	23,031	*,e	Global Crossing Ltd		551
	55,768	*,e	Globalstar, Inc		23
	10,686	e	HickoryTech Corp		103
	10,513		IDT Corp (Class B)		214
	24,433	*,e	inContact, Inc		84
	33,317	*	Iridium Communications, Inc		207
	46,753	*,e	Leap Wireless International, Inc		323
	1,307,010	*,e	Level 3 Communications, Inc		1,947
	212,720	*	MetroPCS Communications, Inc		1,853
	25,073	*	Neutral Tandem, Inc		243
	128,973	*	NII Holdings, Inc (Class B)		3,476
	23,518		NTELOS Holdings Corp		417
	89,041	*	PAETEC Holding Corp		471
	46,371	*	Premiere Global Services, Inc		298
	86,257	*	SBA Communications Corp (Class A)		2,974
	18,151		Shenandoah Telecom Co		202
	2,271,081	*	Sprint Nextel Corp		6,904
	11,067		SureWest Communications		116
	65,013	e	Telephone & Data Systems, Inc		1,382
	26,456	*,e	Towerstream Corp		68
	108,826	*	tw telecom inc (Class A)		1,798
	5,129	*	US Cellular Corp		203
	18,421		USA Mobility, Inc		243
	2,138,494		Verizon Communications, Inc		78,697
	95,787	*	Vonage Holdings Corp		249
	378,977	e	Windstream Corp		4,419
			TOTAL TELECOMMUNICATION SERVICES		283,957
TRANSPORTATION - 1.8%
	44,655	*	Air Transport Services Group, Inc		193

311

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	27,508	*	Alaska Air Group, Inc	$	1,548
	30,756	e	Alexander & Baldwin, Inc		1,124
	9,924	e	Allegiant Travel Co		468
	6,973	*	Amerco, Inc		435
	234,666	*,e	AMR Corp		695
	19,331		Arkansas Best Corp		312
	19,165	*	Atlas Air Worldwide Holdings, Inc		638
	79,295	*	Avis Budget Group, Inc		767
	12,726	e	Baltic Trading Ltd		59
	16,346		Celadon Group, Inc		145
	125,392		CH Robinson Worldwide, Inc		8,586
	40,201		Con-Way, Inc		890
	23,678		Copa Holdings S.A. (Class A)		1,451
	834,193		CSX Corp		15,574
	644,364	*	Delta Air Lines, Inc		4,833
	22,195	*	Dollar Thrifty Automotive Group, Inc		1,250
	51,764	*,e	Eagle Bulk Shipping, Inc		81
	26,769	*,e	Excel Maritime Carriers Ltd		56
	162,491		Expeditors International Washington, Inc		6,589
	239,546		FedEx Corp		16,212
	22,919		Forward Air Corp		583
	20,776	*,e	Genco Shipping & Trading Ltd		162
	29,936	*	Genesee & Wyoming, Inc (Class A)		1,393
	40,654	*	Hawaiian Holdings, Inc		171
	38,365	e	Heartland Express, Inc		520
	183,917	*	Hertz Global Holdings, Inc		1,637
	28,105	*	Hub Group, Inc (Class A)		795
	4,290		International Shipholding Corp		79
	70,799		J.B. Hunt Transport Services, Inc		2,557
	181,414	*,e	JetBlue Airways Corp		744
	82,727	*	Kansas City Southern Industries, Inc		4,133
	39,152	*	Kirby Corp		2,061
	42,524		Knight Transportation, Inc		566
	34,523		Landstar System, Inc		1,366
	10,239		Marten Transport Ltd		177
	265,397		Norfolk Southern Corp		16,195
	36,263	*,e	Old Dominion Freight Line		1,051
	31,042	*	Pacer International, Inc		116
	6,136	*	Park-Ohio Holdings Corp		74
	3,411	*	Patriot Transportation Holding, Inc		69
	11,331	*	Quality Distribution, Inc		102
	16,300	*	RailAmerica, Inc		212
	40,702	*,e	Republic Airways Holdings, Inc		115
	8,012	*	Roadrunner Transportation Services Holdings, Inc		110
	39,335		Ryder System, Inc		1,475
	9,635	*	Saia, Inc		101
	40,260		Skywest, Inc		463
	598,461		Southwest Airlines Co		4,812
	12,178	*	Spirit Airlines, Inc		152
	60,697	*	Swift Transportation Co, Inc		391
	254,115	*	UAL Corp		4,925
	18,066	*,e	Ultrapetrol Bahamas Ltd		41

312

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	370,994		Union Pacific Corp	$	30,298
	554,538		United Parcel Service, Inc (Class B)		35,020
	3,884		Universal Truckload Services, Inc		50
	126,271	*,e	US Airways Group, Inc		694
	81,226		UTI Worldwide, Inc		1,059
	33,067		Werner Enterprises, Inc		689
	15,800	*	Wesco Aircraft Holdings, Inc		173
	7,765	*,e	Zipcar, Inc		140
			TOTAL TRANSPORTATION		177,377
UTILITIES - 4.0%
	502,487	*	AES Corp		4,904
	59,868		AGL Resources, Inc		2,439
	24,428		Allete, Inc		895
	81,807		Alliant Energy Corp		3,164
	183,716		Ameren Corp		5,469
	362,712		American Electric Power Co, Inc		13,790
	16,487		American States Water Co		559
	131,951		American Water Works Co, Inc		3,983
	104,679		Aqua America, Inc		2,258
	4,909		Artesian Resources Corp		86
	45,246	e	Atlantic Power Corp		642
	69,174		Atmos Energy Corp		2,245
	43,026		Avista Corp		1,026
	29,085	e	Black Hills Corp		891
	8,402	*,e	Cadiz, Inc		66
	35,650		California Water Service Group		631
	267,409	*	Calpine Corp		3,765
	321,488		Centerpoint Energy, Inc		6,308
	10,819		Central Vermont Public Service Corp		381
	13,300		CH Energy Group, Inc		694
	8,826		Chesapeake Utilities Corp		354
	45,284		Cleco Corp		1,546
	188,036		CMS Energy Corp		3,721
	6,221		Connecticut Water Service, Inc		156
	220,183		Consolidated Edison, Inc		12,555
	10,306	e	Consolidated Water Co, Inc		81
	142,412		Constellation Energy Group, Inc		5,420
	435,837		Dominion Resources, Inc		22,127
	85,290		DPL, Inc		2,571
	127,357		DTE Energy Co		6,243
	1,006,612		Duke Energy Corp		20,122
	75,150	*,e	Dynegy, Inc (Class A)		310
	245,806		Edison International		9,402
	34,619		El Paso Electric Co		1,111
	35,476	e	Empire District Electric Co		688
	134,820		Entergy Corp		8,937
	501,378		Exelon Corp		21,364
	317,277		FirstEnergy Corp		14,249
	104,313		Great Plains Energy, Inc		2,013
	73,366		Hawaiian Electric Industries, Inc		1,781
	34,349		Idacorp, Inc		1,298

313

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	59,780		Integrys Energy Group, Inc	$	2,907
	37,881		ITC Holdings Corp		2,933
	18,300		Laclede Group, Inc		709
	144,690		MDU Resources Group, Inc		2,777
	16,000		MGE Energy, Inc		651
	9,765		Middlesex Water Co		167
	58,843		National Fuel Gas Co		2,864
	31,721		New Jersey Resources Corp		1,350
	317,782		NextEra Energy, Inc		17,167
	35,013		Nicor, Inc		1,926
	208,593		NiSource, Inc		4,460
	134,366		Northeast Utilities		4,521
	18,551		Northwest Natural Gas Co		818
	27,832		NorthWestern Corp		889
	184,642	*	NRG Energy, Inc		3,916
	76,892		NSTAR		3,446
	176,210		NV Energy, Inc		2,592
	75,923		OGE Energy Corp		3,628
	81,923		Oneok, Inc		5,409
	13,917	e	Ormat Technologies, Inc		224
	29,407	e	Otter Tail Corp		538
	3,531		Pennichuck Corp		99
	168,153		Pepco Holdings, Inc		3,181
	299,242		PG&E Corp		12,661
	55,696		Piedmont Natural Gas Co, Inc		1,609
	81,375		Pinnacle West Capital Corp		3,494
	64,221		PNM Resources, Inc		1,055
	58,032		Portland General Electric Co		1,375
	436,957		PPL Corp		12,471
	222,068		Progress Energy, Inc		11,485
	380,899		Public Service Enterprise Group, Inc		12,711
	135,152		Questar Corp		2,394
	582,024	*	RRI Energy, Inc		1,618
	87,177	e	SCANA Corp		3,526
	178,686		Sempra Energy		9,202
	10,436		SJW Corp		227
	22,925		South Jersey Industries, Inc		1,141
	643,005		Southern Co		27,245
	34,400		Southwest Gas Corp		1,244
	163,004		TECO Energy, Inc		2,792
	85,402		UGI Corp		2,244
	38,476	e	UIL Holdings Corp		1,267
	27,775		Unisource Energy Corp		1,002
	11,594		Unitil Corp		298
	62,527		Vectren Corp		1,693
	86,960	e	Westar Energy, Inc		2,297
	38,842		WGL Holdings, Inc		1,518
	175,600		Wisconsin Energy Corp		5,495
	360,957		Xcel Energy, Inc		8,912
	9,006		York Water Co		146
			TOTAL UTILITIES		388,539
			TOTAL COMMON STOCKS		9,585,710
			(Cost $8,854,321)

314

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
SHORT-TERM INVESTMENTS - 3.2%
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 3.2%
	310,993,648	x	TIAA - CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	310,994
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		310,994
			TOTAL SHORT-TERM INVESTMENTS		310,994
			(Cost $310,994)
			TOTAL INVESTMENTS - 102.9%		9,896,704
			(Cost $9,165,315)
			OTHER ASSETS & LIABILITIES, NET - (2.9)%		(274,437	)
			NET ASSETS - 100.0%	$	9,622,267

	Abbreviation(s):
ADR	American Depositary Receipt
REIT	Real Estate Investment Trust
SPDR	Standard & Poor’s Depositary Receipts
*	Non-income producing.
^	Amount represents less than $1,000.
d	All or a portion of these securities have been segregated by the custodian to cover margin or other requirements on open futures contracts.
e	All or a portion of these securities are out on loan.
m	Indicates a security that has been deemed illiquid.
x	Investments made with cash collateral received from securities on loan.
	Cost amounts are in thousands.

315

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND
BOND MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2011

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.1%
CAPITAL GOODS - 0.0%
$	4,962,500	i	TransDigm, Inc	4.000	%	02/14/17	$	4,842
			TOTAL CAPITAL GOODS					4,842
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	4,252,077	i,m	JohnsonDiversey, Inc	4.000		11/24/15		4,241
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					4,241
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	5,117,077	i	Fresenius US Finance I, Inc	3.500		09/10/14		5,026
	1,839,846	i	Fresenius US Finance I, Inc	3.500		09/10/14		1,807
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					6,833
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	804,572	i	Mylan, Inc	3.563		10/02/14		803
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					803
			TOTAL BANK LOAN OBLIGATIONS					16,719
			(Cost $16,962)
BONDS - 98.6%
CORPORATE BONDS - 27.8%
AUTOMOBILES & COMPONENTS - 0.1%
	4,500,000		Ford Motor Co	7.450		07/16/31		5,080
	4,500,000	g	Hyundai Motor Manufacturer	4.500		04/15/15		4,603
			TOTAL AUTOMOBILES & COMPONENTS					9,683
BANKS - 4.8%
	5,480,000	g	Akbank TAS	5.130		07/22/15		5,288
	4,500,000	g	Alfa Bond Issuance plc for OJSC Alfa Bank	7.880		09/25/17		4,050
	4,500,000	g	Alfa Bond Issuance plc for OJSC Alfa Bank	7.750		04/28/21		3,848
	4,500,000	g	Banco Bradesco S.A.	4.130		05/16/16		4,478
	7,580,000	g	Banco de Credito del Peru	4.750		03/16/16		7,315
	4,500,000		Banco de Oro Unibank, Inc	3.880		04/22/16		4,193
	4,500,000	g	Banco do Brasil S.A.	5.380		01/15/21		4,343
	5,000,000	g	Banco do Brasil S.A.	5.880		01/26/22		4,763
	4,400,000	g,i	Banco Santander Chile	1.500		04/20/12		4,403
	3,500,000	g	BanColombia S.A.	4.250		01/12/16		3,430
	4,905,000	g	BanColombia S.A.	5.950		06/03/21		4,746
	3,555,000		Bank of America Corp	4.880		01/15/13		3,543
	22,240,000		Bank of America Corp	3.630		03/17/16		20,245

316

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	14,800,000		Bank of America Corp	3.750	%	07/12/16	$	13,465
	18,550,000		Bank of America Corp	5.300		03/15/17		16,754
	8,525,000		Bank of America Corp	6.000		09/01/17		8,201
	5,725,000		Bank of America Corp	5.750		12/01/17		5,369
	3,150,000		Bank of America Corp	5.000		05/13/21		2,810
	5,700,000		Bank of New York Mellon Corp	4.300		05/15/14		6,150
	10,000,000		Bank of New York Mellon Corp	2.300		07/28/16		10,074
	4,125,000		Bank of New York Mellon Corp	5.450		05/15/19		4,766
	37,700,000	g	Bank of Nova Scotia	1.650		10/29/15		37,981
	39,500,000	g	Bank of Nova Scotia	2.150		08/03/16		40,178
	1,250,000	i	BB&T Capital Trust IV	6.820		06/12/57		1,244
	6,000,000		BB&T Corp	3.850		07/27/27		6,136
	4,330,000	g	BBVA Bancomer S.A.	4.500		03/10/16		4,027
	3,750,000		Capital One Bank USA NA	8.800		07/15/19		4,418
	5,000,000		Capital One Capital V	8.880		05/15/40		5,074
	6,500,000		Capital One Financial Corp	3.150		07/15/16		6,435
	8,075,000		Citigroup, Inc	6.000		12/13/13		8,482
	12,640,000		Citigroup, Inc	5.000		09/15/14		12,397
	29,300,000		Citigroup, Inc	3.950		06/15/16		29,230
	4,525,000		Citigroup, Inc	6.130		05/15/18		4,854
	11,406,000		Citigroup, Inc	5.380		08/09/20		11,817
	7,575,000		Citigroup, Inc	6.880		03/05/38		8,224
	3,825,000		Citigroup, Inc	8.130		07/15/39		4,585
	45,000,000	g	Depfa ACS Bank	5.130		03/16/37		34,385
	3,500,000		Deutsche Bank AG	3.880		08/18/14		3,572
	5,980,000		Discover Bank	7.000		04/15/20		6,338
	4,700,000		First Horizon National Corp	5.380		12/15/15		4,757
	3,500,000		Golden West Financial Corp	4.750		10/01/12		3,605
	4,600,000	g	HSBC Bank plc	3.500		06/28/15		4,668
	7,350,000	g	HSBC Bank plc	4.130		08/12/20		7,278
	7,000,000		HSBC Bank USA NA	4.630		04/01/14		7,167
	3,000,000	g,i	HSBC Capital Funding LP	4.610		12/30/49		2,652
	2,100,000		HSBC Holdings plc	6.500		09/15/37		2,061
	5,590,000	g	ICICI Bank Ltd	5.500		03/25/15		5,568
	4,500,000	g	ICICI Bank Ltd	4.750		11/25/16		4,302
	4,000,000		JP Morgan Chase Capital XXV	6.800		10/01/37		4,015
	2,950,000		JPMorgan Chase & Co	4.650		06/01/14		3,123
	2,595,000		JPMorgan Chase & Co	5.130		09/15/14		2,733
	6,000,000		JPMorgan Chase & Co	3.400		06/24/15		6,094
	3,750,000		JPMorgan Chase & Co	3.450		03/01/16		3,765
	19,825,000		JPMorgan Chase & Co	3.150		07/05/16		19,696
	25,570,000		JPMorgan Chase & Co	4.250		10/15/20		25,631
	3,025,000		JPMorgan Chase & Co	5.500		10/15/40		3,198
	4,250,000	i	Manufacturers & Traders Trust Co	5.630		12/01/21		4,112
	12,750,000		Northern Trust Corp	4.630		05/01/14		13,745
	2,500,000		Northern Trust Corp	3.380		08/23/21		2,531
	8,000,000		PNC Funding Corp	5.130		02/08/20		8,855
	4,500,000	g	Shinhan Bank	4.130		10/04/16		4,385
	2,355,000	g	Sumitomo Mitsui Banking Corp	3.150		07/22/15		2,429
	26,500,000	g	Toronto-Dominion Bank	1.630		09/14/16		26,409
	4,500,000	g	Turkiye Garanti Bankasi AS.	6.250		04/20/21		4,185
	4,500,000	g	Turkiye Is Bankasi	5.100		02/01/16		4,343
	2,000,000		Union Bank of California NA	5.950		05/11/16		2,202

317

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,000,000		US Bancorp	4.950	%	10/30/14	$	5,442
	1,925,000		USB Capital XIII Trust	6.630		12/15/39		1,933
	5,125,000		Wachovia Bank NA	5.300		10/15/11		5,130
	8,275,000		Wachovia Bank NA	4.800		11/01/14		8,830
	3,605,000		Wachovia Bank NA	4.880		02/01/15		3,795
	2,050,000		Wachovia Bank NA	5.850		02/01/37		2,130
	5,000,000		Wachovia Corp	4.880		02/15/14		5,201
	3,000,000		Wells Fargo & Co	4.380		01/31/13		3,113
	14,020,000		Wells Fargo & Co	3.680		06/15/16		14,590
	10,650,000		Wells Fargo Bank NA	4.750		02/09/15		11,098
	5,700,000		Westpac Banking Corp	3.000		08/04/15		5,804
	3,000,000		Zions Bancorporation	7.750		09/23/14		3,163
			TOTAL BANKS					625,349
CAPITAL GOODS - 0.8%
	2,000,000		Alliant Techsystems, Inc	6.750		04/01/16		2,005
	1,500,000		Black & Decker Corp	8.950		04/15/14		1,759
	8,000,000		Caterpillar, Inc	1.380		05/27/14		8,053
	5,200,000		Caterpillar, Inc	5.200		05/27/41		6,077
	3,800,000		CRH America, Inc	4.130		01/15/16		3,826
	5,000,000		Danaher Corp	1.300		06/23/14		5,058
	4,150,000		Danaher Corp	2.300		06/23/16		4,251
	4,000,000		Emerson Electric Co	4.500		05/01/13		4,215
	4,500,000	g	Empresas ICA SAB de C.V.	8.900		02/04/21		3,960
	3,300,000		General Electric Co	5.250		12/06/17		3,667
	3,515,000		Goodrich Corp	6.130		03/01/19		4,232
	1,500,000		Goodrich Corp	4.880		03/01/20		1,692
	1,300,000	g	Illinois Tool Works, Inc	3.380		09/15/21		1,332
	3,300,000	g	Illinois Tool Works, Inc	4.880		09/15/41		3,674
	2,125,000		ITT Corp	4.900		05/01/14		2,323
	1,500,000		Kennametal, Inc	7.200		06/15/12		1,560
	2,500,000		Lockheed Martin Corp	4.120		03/14/13		2,628
	9,250,000		Lockheed Martin Corp	3.350		09/15/21		9,159
	4,245,000	g	Myriad International Holding BV	6.380		07/28/17		4,404
	9,800,000		Pentair, Inc	5.000		05/15/21		10,235
	3,040,000	g	Sigma Alimentos S.A.	5.630		04/14/18		2,964
	2,000,000		SPX Corp	6.880		09/01/17		2,050
	3,050,000		Tyco International Finance S.A.	6.000		11/15/13		3,339
	2,190,000		Tyco International Finance S.A.	4.130		10/15/14		2,328
	4,970,000		United Technologies Corp	5.400		05/01/35		5,816
	1,075,000		United Technologies Corp	6.050		06/01/36		1,363
	3,525,000		United Technologies Corp	5.700		04/15/40		4,298
			TOTAL CAPITAL GOODS					106,268
COMMERCIAL & PROFESSIONAL SERVICES - 0.3%
	1,750,000		Corrections Corp of America	7.750		06/01/17		1,848
	3,220,000	g	National Agricultural Cooperative Federation	4.250		01/28/16		3,239
	10,290,000		Republic Services, Inc	3.800		05/15/18		10,700
	5,810,000		Republic Services, Inc	6.200		03/01/40		6,982
	3,270,000	g	VIP Finance Ireland Ltd	6.490		02/02/16		2,984
	7,150,000		Waste Management, Inc	2.600		09/01/16		7,167
	9,040,000		Waste Management, Inc	6.130		11/30/39		10,958
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					43,878

318

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
CONSUMER DURABLES & APPAREL - 0.2%
$	3,000,000		Hanesbrands, Inc	8.000	%	12/15/16	$	3,173
	5,500,000	g	Harley-Davidson Financial Services, Inc	3.880		03/15/16		5,660
	3,000,000		Phillips-Van Heusen Corp	7.380		05/15/20		3,128
	5,600,000		Whirlpool Corp	8.000		05/01/12		5,815
	3,600,000		Xerox Corp	8.250		05/15/14		4,099
	5,000,000		Xerox Corp	4.250		02/15/15		5,289
	2,075,000		Xerox Corp	4.500		05/15/21		2,075
			TOTAL CONSUMER DURABLES & APPAREL					29,239
CONSUMER SERVICES - 0.1%
	2,000,000		DineEquity, Inc	9.500		10/30/18		1,985
	648,000	g	Knowledge Learning Corp, Inc	7.750		02/01/15		616
	2,000,000		Penn National Gaming, Inc	8.750		08/15/19		2,120
	3,500,000	g	Transnet Ltd	4.500		02/10/16		3,596
	6,375,000		Walt Disney Co	4.500		12/15/13		6,886
			TOTAL CONSUMER SERVICES					15,203
DIVERSIFIED FINANCIALS - 4.5%
	7,750,000		Abbey National Treasury Services plc	4.000		04/27/16		7,154
	2,550,000		American Express Co	7.000		03/19/18		3,017
	8,875,000		American Express Co	8.130		05/20/19		11,201
	7,500,000		American General Finance Corp	6.900		12/15/17		5,400
	3,550,000		Ameriprise Financial, Inc	5.300		03/15/20		3,924
	4,500,000		Axiata SPV1 (Labuan) Ltd	5.380		04/28/20		4,703
	4,500,000	g	Banco Mercantil del Norte S.A.	4.380		07/19/15		4,478
	4,500,000	g	Bangkok Bank PCL	4.800		10/18/20		4,285
	8,067,000	g	Banque PSA Finance	3.380		04/04/14		7,815
	3,750,000		Barclays Bank plc	5.200		07/10/14		3,835
	7,250,000		BlackRock, Inc	3.500		12/10/14		7,704
	7,000,000		BlackRock, Inc	4.250		05/24/21		7,293
	3,200,000	g	BM&FBOVESPA S.A.	5.500		07/16/20		3,148
	5,000,000		Brookfield Asset Management, Inc	7.130		06/15/12		5,164
	3,000,000	g	CC Holdings GS V LLC	7.750		05/01/17		3,195
	3,700,000		Countrywide Financial Corp	6.250		05/15/16		3,265
	6,850,000		Credit Suisse	5.000		05/15/13		7,080
	8,250,000		Credit Suisse	5.500		05/01/14		8,721
	3,275,000		Credit Suisse	4.380		08/05/20		3,169
	4,725,000		Credit Suisse AG.	5.400		01/14/20		4,539
	3,000,000		Credit Suisse USA, Inc	4.880		01/15/15		3,159
	4,664,000		Eaton Vance Corp	6.500		10/02/17		5,320
	2,000,000		Ford Motor Credit Co LLC	7.500		08/01/12		2,040
	2,250,000		Ford Motor Credit Co LLC	5.880		08/02/21		2,238
	5,000,000	g	FUEL Trust	3.980		06/15/16		4,896
	2,100,000		General Electric Capital Corp	2.800		01/08/13		2,136
	11,950,000		General Electric Capital Corp	1.880		09/16/13		12,005
	21,200,000		General Electric Capital Corp	5.500		06/04/14		22,984
	9,850,000		General Electric Capital Corp	2.950		05/09/16		9,872
	30,215,000		General Electric Capital Corp	4.380		09/16/20		30,745
	8,600,000		General Electric Capital Corp	5.300		02/11/21		8,922
	5,000,000		General Electric Capital Corp	6.150		08/07/37		5,344
	375,000		General Electric Capital Corp	6.880		01/10/39		430

319

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,900,000	i	Goldman Sachs Capital II	5.790	%	12/30/49	$	3,038
	3,250,000		Goldman Sachs Group, Inc	5.700		09/01/12		3,336
	9,700,000		Goldman Sachs Group, Inc	4.750		07/15/13		9,982
	1,550,000		Goldman Sachs Group, Inc	3.700		08/01/15		1,518
	12,902,000		Goldman Sachs Group, Inc	3.630		02/07/16		12,561
	4,000,000		Goldman Sachs Group, Inc	6.150		04/01/18		4,145
	4,975,000		Goldman Sachs Group, Inc	7.500		02/15/19		5,552
	1,150,000		Goldman Sachs Group, Inc	6.450		05/01/36		1,045
	3,100,000		Goldman Sachs Group, Inc	6.750		10/01/37		2,836
	10,250,000		Goldman Sachs Group, Inc	6.250		02/01/41		9,967
	8,465,000		HSBC Finance Corp	4.750		07/15/13		8,751
	9,599,000	g	HSBC Finance Corp	6.680		01/15/21		9,434
	1,440,000	g	Hyundai Capital America	3.750		04/06/16		1,422
	1,800,000	g	Hyundai Capital Services, Inc	4.380		07/27/16		1,821
	3,750,000	g	International Lease Finance Corp	6.500		09/01/14		3,750
	2,325,000		International Lease Finance Corp	8.630		09/15/15		2,308
	13,450,000		International Lease Finance Corp	5.750		05/15/16		11,955
	3,200,000		International Lease Finance Corp	6.250		05/15/19		2,781
	4,500,000	g	Inversiones CMPC S.A.	4.750		01/19/18		4,549
	8,500,000		Jefferies Group, Inc	5.130		04/13/18		7,960
	1,450,000		Jefferies Group, Inc	6.250		01/15/36		1,315
	7,440,000		John Deere Capital Corp	2.250		06/07/16		7,556
	3,150,000	n	Lehman Brothers Holdings Capital Trust V	5.860		12/30/49		0	^
	3,875,000		Lloyds TSB Bank plc	6.380		01/21/21		3,820
	4,500,000	g	Majapahit Holding BV	7.880		06/29/37		4,860
	4,000,000		MBNA Corp	6.130		03/01/13		4,004
	4,825,000		Merrill Lynch & Co, Inc	5.450		02/05/13		4,782
	4,675,000		Merrill Lynch & Co, Inc	6.400		08/28/17		4,533
	9,075,000		Merrill Lynch & Co, Inc	6.880		04/25/18		9,079
	3,850,000		MF Global Holdings Ltd	6.250		08/08/16		3,636
	14,775,000		Morgan Stanley	6.000		05/13/14		14,962
	9,150,000		Morgan Stanley	2.880		07/28/14		8,719
	3,925,000		Morgan Stanley	6.000		04/28/15		3,906
	8,350,000		Morgan Stanley	5.380		10/15/15		8,284
	9,250,000		Morgan Stanley	3.800		04/29/16		8,528
	9,125,000		Morgan Stanley	5.450		01/09/17		8,802
	4,775,000		Morgan Stanley	5.950		12/28/17		4,630
	4,975,000		Morgan Stanley	7.300		05/13/19		5,127
	3,415,000		Morgan Stanley	5.630		09/23/19		3,204
	16,800,000		Morgan Stanley	5.750		01/25/21		15,457
	708,000		NASDAQ OMX Group, Inc	2.500		08/15/13		724
	3,500,000		NASDAQ OMX Group, Inc	4.000		01/15/15		3,567
	2,625,000		NASDAQ OMX Group, Inc	5.550		01/15/20		2,629
	3,415,000		National Rural Utilities Cooperative Finance Corp	2.610		09/16/12		3,477
	5,990,000		National Rural Utilities Cooperative Finance Corp	5.500		07/01/13		6,464
	3,800,000		National Rural Utilities Cooperative Finance Corp	10.380		11/01/18		5,460
	3,750,000		Nomura Holdings, Inc	4.130		01/19/16		3,805
	4,500,000	g	Odebrecht Finance Ltd	7.000		04/21/20		4,691
	2,250,000	g	Odebrecht Finance Ltd	6.000		04/05/23		2,093
	4,500,000	g	PTTEP Australia International Finance Pty Ltd	4.150		07/19/15		4,758
	7,000,000		Rabobank Nederland NV	2.130		10/13/15		6,986
	4,900,000	g,i	Rabobank Nederland NV	11.000		12/30/49		5,892
	5,645,000	g	RCI Banque S.A.	3.400		04/11/14		5,470

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	6,350,000		State Street Corp	4.300	%	05/30/14	$	6,851
	40,000,000	g	Toronto-Dominion Bank	0.880		09/12/14		39,852
	5,495,000		Toronto-Dominion Bank	2.500		07/14/16		5,640
	4,000,000		UBS AG.	2.250		01/28/14		3,898
	6,675,000		UBS AG.	4.880		08/04/20		6,427
	4,050,000	g	Waha Aerospace BV	3.930		07/28/20		4,161
	1,800,000	g	WT Finance Aust Pty Ltd	5.130		11/15/14		1,893
			TOTAL DIVERSIFIED FINANCIALS					577,834
ENERGY - 3.1%
	5,450,000		Anadarko Petroleum Corp	5.950		09/15/16		5,961
	2,400,000		Anadarko Petroleum Corp	6.380		09/15/17		2,692
	2,445,000		Anadarko Petroleum Corp	6.950		06/15/19		2,836
	2,145,000		Anadarko Petroleum Corp	6.450		09/15/36		2,269
	5,000,000		Apache Corp	5.100		09/01/40		5,578
	1,000,000		Arch Coal, Inc	8.750		08/01/16		1,060
	3,415,000	g	Baker Hughes, Inc	3.200		08/15/21		3,441
	1,500,000		Baker Hughes, Inc	5.130		09/15/40		1,717
	4,725,000		BP Capital Markets plc	3.130		03/10/12		4,769
	21,565,000		BP Capital Markets plc	3.200		03/11/16		22,482
	7,750,000		Burlington Resources Finance Co	7.200		08/15/31		10,578
	3,250,000		Chesapeake Energy Corp	6.500		08/15/17		3,364
	1,000,000		Cloud Peak Energy Resources LLC	8.250		12/15/17		1,038
	2,000,000		Cloud Peak Energy Resources LLC	8.500		12/15/19		2,080
	9,725,000		ConocoPhillips	4.600		01/15/15		10,653
	7,600,000		ConocoPhillips	6.500		02/01/39		10,078
	6,800,000		Devon Energy Corp	5.600		07/15/41		7,839
	3,976,200		Dolphin Energy Ltd	5.890		06/15/19		4,255
	4,500,000		Drummond Co, Inc	7.380		02/15/16		4,556
	4,500,000	g	Empresa Nacional del Petroleo	6.250		07/08/19		4,940
	2,000,000	g	Empresa Nacional del Petroleo	5.250		08/10/20		2,067
	3,250,000		Enbridge Energy Partners LP	5.200		03/15/20		3,458
	1,525,000		EnCana Corp	6.630		08/15/37		1,760
	2,000,000		Encore Acquisition Co	9.500		05/01/16		2,160
	5,950,000		Enterprise Products Operating LLC	4.600		08/01/12		6,105
	4,000,000		Enterprise Products Operating LLC	5.600		10/15/14		4,378
	1,150,000		Enterprise Products Operating LLC	5.000		03/01/15		1,249
	4,260,000		Enterprise Products Operating LLC	6.500		01/31/19		5,016
	3,545,000		Enterprise Products Operating LLC	6.130		10/15/39		3,860
	4,105,000		Enterprise Products Operating LLC	5.950		02/01/41		4,403
	3,500,000		Enterprise Products Operating LLC	5.700		02/15/42		3,683
	2,325,000		EOG Resources, Inc	4.100		02/01/21		2,487
	3,000,000	g	Gaz Capital S.A.	5.090		11/29/15		2,940
	4,000,000		Gaz Capital S.A.	6.210		11/22/16		4,030
	4,500,000		Gaz Capital S.A.	6.510		03/07/22		4,410
	3,600,000		Hess Corp	8.130		02/15/19		4,640
	1,075,000		Hess Corp	6.000		01/15/40		1,226
	4,625,000		Hess Corp	5.600		02/15/41		4,990
	2,000,000		Kaneb Pipe Line Operating Partnership LP	5.880		06/01/13		2,126
	6,430,000	g	KMG Finance Sub BV	6.380		04/09/21		6,237
	9,070,000	g	Lukoil International Finance BV	6.130		11/09/20		8,435
	2,000,000		Lyondell Chemical Co	11.000		05/01/18		2,160
	5,530,000	g	Marathon Petroleum Corp	3.500		03/01/16		5,702

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,275,000	g	Marathon Petroleum Corp	5.130	%	03/01/21	$	4,452
	1,000,000		MarkWest Energy Partners LP	6.750		11/01/20		1,015
	720,000		Niska Gas Storage US	8.880		03/15/18		713
	2,475,000		Noble Holding International Ltd	3.450		08/01/15		2,602
	7,550,000		Noble Holding International Ltd	4.900		08/01/20		8,121
	4,570,000	g	Novatek Finance Ltd	6.600		02/03/21		4,404
	12,000,000		Occidental Petroleum Corp	1.750		02/15/17		11,910
	7,450,000		Occidental Petroleum Corp	4.100		02/01/21		8,082
	1,500,000		Peabody Energy Corp	7.380		11/01/16		1,648
	800,000		Pemex Project Funding Master Trust	5.750		03/01/18		866
	1,150,000		Pemex Project Funding Master Trust	6.630		06/15/35		1,233
	1,890,000		Pemex Project Funding Master Trust	6.630		06/15/38		2,032
	3,650,000	g	Pertamina PT	5.250		05/23/21		3,504
	1,750,000	g	Pertamina PT	6.500		05/27/41		1,663
	2,080,000		Petrobras International Finance Co	3.880		01/27/16		2,063
	4,500,000		Petrobras International Finance Co	7.880		03/15/19		5,220
	4,450,000		Petrobras International Finance Co	6.880		01/20/40		4,695
	2,900,000		Petroleos Mexicanos	8.000		05/03/19		3,538
	2,500,000		Petroleos Mexicanos	6.000		03/05/20		2,735
	4,000,000		Petroleos Mexicanos	5.500		01/21/21		4,200
	1,740,000		Petroleos Mexicanos	6.500		06/02/41		1,801
	3,960,000	g	Petroleum Co of Trinidad & Tobago Ltd	9.750		08/14/19		4,683
	3,000,000		Plains All American Pipeline LP	5.630		12/15/13		3,234
	8,200,000		Plains All American Pipeline LP	5.000		02/01/21		8,644
	2,674,000		Precision Drilling Trust	6.630		11/15/20		2,607
	4,500,000	g	PTTEP Canada International Finance Ltd	5.690		04/05/21		4,547
	700,000		Range Resources Corp	7.250		05/01/18		746
	3,454,304		Ras Laffan Liquefied Natural Gas Co Ltd	5.300		09/30/20		3,727
	3,000,000	g	Reliance Holdings USA	4.500		10/19/20		2,753
	4,025,000	g	Rockies Express Pipeline LLC	6.250		07/15/13		4,283
	15,900,000	g	Schlumberger Investment S.A.	3.300		09/14/21		15,917
	3,750,000		SEACOR Holdings, Inc	7.380		10/01/19		4,054
	6,250,000		Shell International Finance BV	3.100		06/28/15		6,635
	7,620,000		Shell International Finance BV	4.300		09/22/19		8,559
	1,925,000		Shell International Finance BV	6.380		12/15/38		2,623
	3,464,000		Southwestern Energy Co	7.500		02/01/18		3,924
	2,800,000		Statoil ASA	2.900		10/15/14		2,946
	2,175,000		TransCanada Pipelines Ltd	4.000		06/15/13		2,276
	3,400,000		TransCanada Pipelines Ltd	5.850		03/15/36		4,076
	2,750,000	i	TransCanada Pipelines Ltd	6.350		05/15/67		2,738
	2,000,000		Vale Overseas Ltd	6.250		01/23/17		2,168
	2,760,000		Vale Overseas Ltd	6.880		11/21/36		2,977
	4,650,000		Vale Overseas Ltd	6.880		11/10/39		4,999
	3,375,000		Valero Energy Corp	4.500		02/01/15		3,603
	4,290,000		Valero Energy Corp	6.130		02/01/20		4,760
	5,430,000		Weatherford Bermuda Holdings Ltd	5.130		09/15/20		5,526
	5,000,000		XTO Energy, Inc	6.250		04/15/13		5,416
	4,400,000		XTO Energy, Inc	4.630		06/15/13		4,690
			TOTAL ENERGY					399,316
FOOD & STAPLES RETAILING - 0.3%
	5,690,000		CVS Caremark Corp	3.250		05/18/15		5,988
	10,500,000		CVS Caremark Corp	5.750		06/01/17		12,052

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	795,000		CVS Caremark Corp	6.600	%	03/15/19	$	967
	3,800,000		Delhaize Group S.A.	5.880		02/01/14		4,141
	3,800,000		Delhaize Group S.A.	6.500		06/15/17		4,442
	1,500,000		Ingles Markets, Inc	8.880		05/15/17		1,571
	1,500,000		Kroger Co	6.200		06/15/12		1,551
	1,205,000		Kroger Co	5.000		04/15/13		1,266
	1,600,000		Kroger Co	6.400		08/15/17		1,897
	775,000		Kroger Co	6.800		12/15/18		956
	900,000		Stater Bros Holdings, Inc	7.380		11/15/18		918
	880,000		Stater Brothers Holdings	7.750		04/15/15		898
	439,000		SuperValu, Inc	8.000		05/01/16		415
			TOTAL FOOD & STAPLES RETAILING					37,062
FOOD, BEVERAGE & TOBACCO - 1.0%
	6,300,000		Anheuser-Busch InBev Worldwide, Inc	2.880		02/15/16		6,597
	7,175,000		Anheuser-Busch InBev Worldwide, Inc	5.000		04/15/20		8,208
	2,500,000		Anheuser-Busch InBev Worldwide, Inc	6.380		01/15/40		3,319
	6,400,000		Bottling Group LLC	6.950		03/15/14		7,319
	4,500,000	g	CCL Finance Ltd	9.500		08/15/14		5,018
	18,750,000	g	Coca-Cola Co	1.800		09/01/16		18,804
	7,200,000		Coca-Cola Co	3.150		11/15/20		7,432
	7,600,000	g	Coca-Cola Co	3.300		09/01/21		7,928
	3,000,000		Coca-Cola Enterprises, Inc	3.250		08/19/21		3,015
	7,250,000		Dr Pepper Snapple Group, Inc	2.350		12/21/12		7,359
	3,775,000		Dr Pepper Snapple Group, Inc	6.120		05/01/13		4,051
	4,080,000		General Mills, Inc	5.200		03/17/15		4,574
	1,750,000		General Mills, Inc	5.650		02/15/19		2,072
	1,650,000	g	Grupo Bimbo SAB de C.V.	4.880		06/30/20		1,658
	2,530,000		Kraft Foods, Inc	6.130		02/01/18		2,970
	8,750,000		Kraft Foods, Inc	5.380		02/10/20		9,903
	8,105,000		Kraft Foods, Inc	6.500		02/09/40		9,907
	2,025,000		PepsiAmericas, Inc	5.750		07/31/12		2,112
	625,000		PepsiAmericas, Inc	4.380		02/15/14		677
	4,800,000		PepsiCo, Inc	0.880		10/25/13		4,804
	680,000		PepsiCo, Inc	7.900		11/01/18		905
	2,900,000		Philip Morris International, Inc	4.880		05/16/13		3,077
	7,425,000		Philip Morris International, Inc	6.880		03/17/14		8,426
	1,600,000		Philip Morris International, Inc	6.380		05/16/38		2,063
	1,000,000		Smithfield Foods, Inc	10.000		07/15/14		1,135
			TOTAL FOOD, BEVERAGE & TOBACCO					133,333
HEALTH CARE EQUIPMENT & SERVICES - 0.5%
	3,750,000		Boston Scientific Corp	4.500		01/15/15		3,918
	1,817,000		CHS/Community Health Systems	8.880		07/15/15		1,785
	2,000,000		DaVita, Inc	6.380		11/01/18		1,920
	4,500,000	g	Fresenius Medical Care Capital Trust	5.750		02/15/21		4,343
	2,560,000		HCA, Inc	6.500		02/15/20		2,502
	2,000,000		Healthsouth Corp	7.250		10/01/18		1,900
	3,852,000		McKesson Corp	3.250		03/01/16		4,061
	5,000,000		Medtronic, Inc	4.750		09/15/15		5,616
	4,450,000		Medtronic, Inc	4.450		03/15/20		5,039
	3,500,000		Quest Diagnostics, Inc	6.400		07/01/17		4,133
	6,225,000		Thermo Fisher Scientific, Inc	2.150		12/28/12		6,327

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,695,000		Thermo Fisher Scientific, Inc	3.200	%	05/01/15	$	1,789
	1,750,000		Thermo Fisher Scientific, Inc	5.000		06/01/15		1,941
	12,280,000		Thermo Fisher Scientific, Inc	3.200		03/01/16		12,900
	6,125,000		Thermo Fisher Scientific, Inc	2.250		08/15/16		6,210
	2,560,000		Thermo Fisher Scientific, Inc	4.700		05/01/20		2,871
	3,300,000		Thermo Fisher Scientific, Inc	3.600		08/15/21		3,426
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					70,681
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	4,490,000	g	Hypermarcas S.A.	6.500		04/20/21		4,086
	4,975,000		Procter & Gamble Co	5.550		03/05/37		6,405
	3,000,000		Unilever Capital Corp	4.800		02/15/19		3,490
	2,000,000		Unilever Capital Corp	4.250		02/10/21		2,274
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS					16,255
INSURANCE - 1.2%
	3,825,000		ACE INA Holdings, Inc	5.880		06/15/14		4,232
	2,155,000		Aetna, Inc	6.500		09/15/18		2,586
	1,925,000		Aetna, Inc	6.630		06/15/36		2,443
	1,525,000		Aflac, Inc	6.900		12/17/39		1,565
	5,375,000		Allstate Corp	7.450		05/16/19		6,570
	4,375,000		American Financial Group, Inc	9.880		06/15/19		5,411
	500,000		American International Group, Inc	3.650		01/15/14		488
	3,750,000		Chubb Corp	6.000		05/11/37		4,427
	1,390,000		CIGNA Corp	5.130		06/15/20		1,511
	6,900,000		CIGNA Corp	4.500		03/15/21		7,148
	5,200,000		Genworth Financial, Inc	7.200		02/15/21		4,419
	7,600,000		Hartford Financial Services Group, Inc	4.000		03/30/15		7,645
	7,600,000		Hartford Financial Services Group, Inc	5.500		03/30/20		7,410
	3,725,000		Hartford Financial Services Group, Inc	6.630		03/30/40		3,488
	2,800,000		Lincoln National Corp	7.000		06/15/40		2,888
	7,500,000		Markel Corp	5.350		06/01/21		7,655
	5,620,000		Metlife, Inc	5.000		06/15/15		6,157
	7,675,000		Metlife, Inc	6.750		06/01/16		8,828
	4,500,000		Metlife, Inc	5.700		06/15/35		4,810
	5,500,000	g	Principal Life Global Funding I	5.130		10/15/13		5,862
	5,000,000		Progressive Corp	3.750		08/23/21		5,100
	2,000,000		Prudential Financial, Inc	5.100		09/20/14		2,109
	8,050,000		Prudential Financial, Inc	7.380		06/15/19		9,434
	5,000,000		Prudential Financial, Inc	6.630		06/21/40		5,403
	7,000,000		Prudential Financial, Inc	6.200		11/15/40		7,191
	3,000,000	g	Prudential Funding LLC	6.750		09/15/23		3,478
	4,250,000		Travelers Cos, Inc	5.800		05/15/18		4,896
	1,150,000		Travelers Cos, Inc	5.900		06/02/19		1,340
	1,500,000		Unum Group	5.630		09/15/20		1,652
	4,902,000		WellPoint, Inc	6.380		01/15/12		4,979
	1,800,000		WellPoint, Inc	5.880		06/15/17		2,059
	2,250,000		WellPoint, Inc	5.850		01/15/36		2,586
	7,000,000		Willis Group Holdings plc	4.130		03/15/16		7,116
	2,400,000		WR Berkley Corp	5.380		09/15/20		2,463
			TOTAL INSURANCE					155,349

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
MATERIALS - 1.7%
$	3,385,000		3M Co	4.380	%	08/15/13	$	3,629
	4,150,000		3M Co	5.700		03/15/37		5,428
	4,500,000	g	Adaro Indonesia PT	7.630		10/22/19		4,410
	4,600,000		Air Products & Chemicals, Inc	4.150		02/01/13		4,805
	6,630,000		Air Products & Chemicals, Inc	4.380		08/21/19		7,301
	1,125,000		Airgas, Inc	4.500		09/15/14		1,199
	1,000,000		Airgas, Inc	7.130		10/01/18		1,072
	7,000,000		Alcoa, Inc	5.400		04/15/21		6,783
	4,500,000	g	ALROSA Finance S.A.	7.750		11/03/20		4,241
	2,150,000	g	Anglo American Capital plc	4.450		09/27/20		2,153
	6,540,000		AngloGold Ashanti Holdings plc	5.380		04/15/20		6,407
	1,860,000		ArcelorMittal	3.750		08/05/15		1,737
	3,750,000		ArcelorMittal	3.750		02/01/16		3,448
	2,085,000		ArcelorMittal	9.850		06/01/19		2,362
	8,370,000		ArcelorMittal	7.000		10/15/39		7,465
	7,400,000		ArcelorMittal	6.750		03/01/41		6,395
	1,015,000		Ball Corp	7.130		09/01/16		1,066
	355,000		Ball Corp	7.380		09/01/19		375
	4,000,000		Ball Corp	5.750		05/15/21		3,889
	7,175,000		Barrick North America Finance LLC	4.400		05/30/21		7,358
	2,000,000	g	Braskem SA	7.000		05/07/20		2,030
	3,000,000		Celanese US Holdings LLC	6.630		10/15/18		3,101
	1,990,000	g,i	Cemex SAB de C.V.	5.370		09/30/15		1,194
	4,500,000	g	Cemex SAB de C.V.	9.500		12/14/16		3,263
	1,930,000	g	Cemex SAB de C.V.	9.000		01/11/18		1,308
	2,000,000		CF Industries, Inc	6.880		05/01/18		2,233
	3,175,000		CF Industries, Inc	7.130		05/01/20		3,616
	4,175,000	g	China Liansu Group Holdings Ltd	7.880		05/13/16		3,048
	7,800,000		Cliffs Natural Resources, Inc	6.250		10/01/40		7,597
	1,000,000		Clorox Co	3.550		11/01/15		1,040
	5,600,000	g	Corp Nacional del Cobre de Chile-CODELCO	3.750		11/04/20		5,567
	2,770,000	g	Crown Americas LLC	6.250		02/01/21		2,770
	1,000,000		Eastman Chemical Co	5.500		11/15/19		1,123
	6,450,000		EI Du Pont de Nemours & Co	3.250		01/15/15		6,863
	6,000,000		EI Du Pont de Nemours & Co	4.630		01/15/20		6,743
	2,350,000	g	Fibria Overseas Finance Ltd	6.750		05/04/20		2,103
	4,500,000		Fibria Overseas Finance Ltd	7.500		05/04/20		4,230
	3,315,000	g	Fufeng Group Ltd	7.630		04/13/16		2,321
	1,250,000	g	Georgia Gulf Corp	9.000		01/15/17		1,263
	5,000,000	g	Georgia-Pacific LLC	5.400		11/01/20		5,086
	1,500,000		Graphic Packaging International, Inc	9.500		06/15/17		1,605
	1,400,000		Greif, Inc	7.750		08/01/19		1,456
	2,775,000	g	Hyundai Steel Co	4.630		04/21/16		2,776
	4,250,000		International Paper Co	7.300		11/15/39		4,776
	3,000,000		Martin Marietta Materials, Inc	6.600		04/15/18		3,383
	4,500,000	g	POSCO	4.250		10/28/20		4,189
	4,600,000	g	POSCO	5.250		04/14/21		4,556
	5,050,000		Praxair, Inc	5.250		11/15/14		5,672
	7,500,000		Rio Tinto Finance USA Ltd	2.250		09/20/16		7,483
	10,115,000		Rio Tinto Finance USA Ltd	3.500		11/02/20		9,947
	2,000,000		Silgan Holdings, Inc	7.250		08/15/16		2,070
	6,450,000	g	Sinochem Corp	6.300		11/12/40		5,966
	3,140,000	g	Sociedad Quimica y Minera de Chile S.A.	5.500		04/21/20		3,286

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,000,000		Solutia, Inc	7.880	%	03/15/20	$	3,158
	4,500,000	g	Suzano Trading Ltd	5.880		01/23/21		4,039
	1,940,000		Teck Resources Ltd	6.000		08/15/40		1,997
			TOTAL MATERIALS					214,381
MEDIA - 0.9%
	3,000,000		AMC Entertainment, Inc	8.750		06/01/19		2,948
	3,750,000		CBS Corp	4.300		02/15/21		3,771
	1,388,000		Cinemark USA, Inc	8.630		06/15/19		1,430
	1,011,000		Comcast Cable Communications Holdings, Inc	8.380		03/15/13		1,111
	6,500,000		Comcast Corp	5.650		06/15/35		6,804
	3,475,000		Comcast Corp	6.400		03/01/40		4,044
	1,455,000		CSC Holdings LLC	8.500		04/15/14		1,570
	4,370,000		DIRECTV Holdings LLC	3.500		03/01/16		4,509
	4,740,000		DIRECTV Holdings LLC	7.630		05/15/16		5,096
	3,000,000		DIRECTV Holdings LLC	6.000		08/15/40		3,202
	5,000,000		Grupo Televisa S.A.	6.000		05/15/18		5,450
	1,970,000		Interpublic Group of Cos, Inc	6.250		11/15/14		2,078
	375,000		Lamar Media Corp	6.630		08/15/15		368
	2,160,000		Lamar Media Corp	7.880		04/15/18		2,160
	8,700,000		NBCUniversal Media LLC	5.150		04/30/20		9,540
	11,930,000		NBCUniversal Media LLC	4.380		04/01/21		12,253
	1,274,000		News America, Inc	7.250		05/18/18		1,482
	2,105,000		News America, Inc	7.630		11/30/28		2,534
	1,578,000		News America, Inc	6.550		03/15/33		1,712
	3,800,000		News America, Inc	6.200		12/15/34		4,068
	3,575,000		News America, Inc	6.650		11/15/37		3,930
	3,800,000		News America, Inc	6.900		08/15/39		4,328
	3,315,000		Nielsen Finance LLC	7.750		10/15/18		3,381
	2,100,000		Time Warner Cable, Inc	8.750		02/14/19		2,687
	9,675,000		Time Warner Cable, Inc	8.250		04/01/19		12,115
	5,000,000		Time Warner Cable, Inc	4.000		09/01/21		4,890
	3,000,000		Time Warner, Inc	3.150		07/15/15		3,103
	3,825,000		Time Warner, Inc	6.500		11/15/36		4,342
	3,875,000		Viacom, Inc	4.380		09/15/14		4,141
			TOTAL MEDIA					119,047
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.0%
	3,975,000		Abbott Laboratories	5.300		05/27/40		4,737
	9,575,000		Amgen, Inc	3.450		10/01/20		9,868
	9,575,000		Amgen, Inc	4.100		06/15/21		10,307
	6,170,000		Eli Lilly & Co	3.550		03/06/12		6,247
	8,750,000		Gilead Sciences, Inc	4.500		04/01/21		9,431
	3,750,000		GlaxoSmithKline Capital, Inc	5.650		05/15/18		4,535
	5,450,000		Johnson & Johnson	2.150		05/15/16		5,625
	4,000,000		Johnson & Johnson	5.850		07/15/38		5,305
	3,140,000		Life Technologies Corp	3.500		01/15/16		3,196
	4,115,000		Mead Johnson Nutrition Co	4.900		11/01/19		4,604
	2,750,000		Mead Johnson Nutrition Co	5.900		11/01/39		3,252
	7,750,000		Merck & Co, Inc	3.880		01/15/21		8,427
	1,500,000	g	Mylan, Inc	7.880		07/15/20		1,568
	1,750,000		NBTY, Inc	9.000		10/01/18		1,792
	3,750,000		Novartis Capital Corp	4.130		02/10/14		4,032

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	15,775,000		Novartis Capital Corp	2.900	%	04/24/15	$	16,694
	2,715,000		Novartis Capital Corp	4.400		04/24/20		3,068
	3,230,000		Pfizer, Inc	5.350		03/15/15		3,680
	8,750,000		Sanofi-Aventis S.A.	2.630		03/29/16		9,052
	3,225,000		Schering-Plough Corp	6.550		09/15/37		4,532
	3,000,000	g	Valeant Pharmaceuticals International	6.750		10/01/17		2,764
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					122,716
REAL ESTATE - 0.6%
	4,500,000	g	Agile Property Holdings Ltd	8.880		04/28/17		3,240
	1,485,000		AMB Property LP	7.630		08/15/14		1,618
	2,310,000		AMB Property LP	4.500		08/15/17		2,173
	2,000,000		Brandywine Operating Partnership LP	5.400		11/01/14		2,086
	1,525,000		Brandywine Operating Partnership LP	7.500		05/15/15		1,652
	7,000,000		Brandywine Operating Partnership LP	4.950		04/15/18		6,762
	3,965,000		Camden Property Trust	4.630		06/15/21		3,942
	6,800,000		Developers Diversified Realty Corp	4.750		04/15/18		6,203
	3,460,000		Developers Diversified Realty Corp	7.880		09/01/20		3,665
	255,000		Federal Realty Investment Trust	5.650		06/01/16		278
	700,000		Federal Realty Investment Trust	5.900		04/01/20		760
	4,445,000		HCP, Inc	3.750		02/01/16		4,393
	3,335,000		Health Care REIT, Inc	3.630		03/15/16		3,252
	2,775,000		Healthcare Realty Trust, Inc	5.750		01/15/21		2,715
	1,600,000		Highwoods Properties, Inc	5.850		03/15/17		1,688
	1,925,000		Kilroy Realty Corp	5.000		11/03/15		1,998
	3,250,000		Kilroy Realty LP	4.800		07/15/18		3,135
	840,000		Kimco Realty Corp	5.700		05/01/17		898
	4,000,000		National Retail Properties, Inc	5.500		07/15/21		4,066
	900,000		Nationwide Health Properties, Inc	6.250		02/01/13		947
	2,325,000		Regency Centers LP	5.250		08/01/15		2,496
	225,000		Regency Centers LP	5.880		06/15/17		243
	800,000		Simon Property Group LP	5.250		12/01/16		871
	3,040,000		Simon Property Group LP	10.350		04/01/19		4,066
	1,000,000		Simon Property Group LP	4.380		03/01/21		1,016
	1,750,000	g,i	USB Realty Corp	6.090		12/30/49		1,269
	3,750,000		Washington Real Estate Investment Trust	4.950		10/01/20		3,980
	4,500,000	g	Yanlord Land Group Ltd	10.630		03/29/18		2,925
			TOTAL REAL ESTATE					72,337
RETAILING - 0.6%
	5,250,000	g	Ace Hardware Corp	9.130		06/01/16		5,447
	3,000,000		AmeriGas Partners LP	6.250		08/20/19		2,873
	2,000,000		Asbury Automotive Group, Inc	7.630		03/15/17		1,910
	2,000,000		Ferrellgas LP	6.500		05/01/21		1,700
	2,400,000		Home Depot, Inc	4.400		04/01/21		2,608
	3,900,000		Home Depot, Inc	5.880		12/16/36		4,540
	7,850,000		Home Depot, Inc	5.950		04/01/41		9,335
	4,500,000	g	Hyva Global BV	8.630		03/24/16		3,555
	3,150,000		Limited Brands, Inc	7.000		05/01/20		3,308
	14,062,000		Macy’s Retail Holdings, Inc	5.900		12/01/16		15,434
	8,050,000		O’Reilly Automotive, Inc	4.630		09/15/21		8,130
	1,000,000	g	QVC, Inc	7.130		04/15/17		1,045
	2,000,000	g	QVC, Inc	7.500		10/01/19		2,130

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,875,000		Staples, Inc	9.750	%	01/15/14	$	4,491
	875,000		Wal-Mart Stores, Inc	3.000		02/03/14		922
	3,450,000		Wal-Mart Stores, Inc	3.250		10/25/20		3,574
	3,675,000		Wal-Mart Stores, Inc	5.000		10/25/40		4,199
			TOTAL RETAILING					75,201
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.1%
	3,838,000		Analog Devices, Inc	5.000		07/01/14		4,195
	2,250,000		Broadcom Corp	1.500		11/01/13		2,254
	5,350,000		Broadcom Corp	2.380		11/01/15		5,398
	2,150,000		National Semiconductor Corp	3.950		04/15/15		2,304
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					14,151
SOFTWARE & SERVICES - 0.3%
	7,325,000		International Business Machines Corp	1.000		08/05/13		7,378
	4,030,000		International Business Machines Corp	1.950		07/22/16		4,065
	3,655,000		Microsoft Corp	0.880		09/27/13		3,679
	10,625,000		Microsoft Corp	1.630		09/25/15		10,830
	3,925,000		Oracle Corp	3.750		07/08/14		4,227
	3,100,000		Oracle Corp	5.750		04/15/18		3,693
	3,750,000	g	Oracle Corp	3.880		07/15/20		3,981
	3,000,000		SunGard Data Systems, Inc	7.380		11/15/18		2,790
			TOTAL SOFTWARE & SERVICES					40,643
TECHNOLOGY HARDWARE & EQUIPMENT - 0.4%
	4,000,000		Amphenol Corp	4.750		11/15/14		4,240
	1,000,000		Brocade Communications Systems, Inc	6.880		01/15/20		1,021
	7,525,000		Hewlett-Packard Co	4.250		02/24/12		7,626
	1,660,000		Hewlett-Packard Co	4.500		03/01/13		1,732
	5,250,000		Hewlett-Packard Co	4.750		06/02/14		5,640
	9,150,000		Hewlett-Packard Co	2.650		06/01/16		9,139
	2,000,000		Hewlett-Packard Co	3.000		09/15/16		2,017
	3,500,000		Jabil Circuit, Inc	5.630		12/15/20		3,413
	4,450,000		L-3 Communications Corp	6.380		10/15/15		4,544
	2,255,000		L-3 Communications Corp	5.200		10/15/19		2,379
	2,000,000		L-3 Communications Corp	4.950		02/15/21		2,087
	4,000,000		NII Capital Corp	7.630		04/01/21		3,970
	2,700,000	g	Pinafore LLC	9.000		10/01/18		2,768
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					50,576
TELECOMMUNICATION SERVICES - 1.8%
	2,870,000		America Movil SAB de C.V.	2.380		09/08/16		2,775
	2,400,000		America Movil SAB de C.V.	5.000		03/30/20		2,534
	4,000,000		America Movil SAB de C.V.	6.130		03/30/40		4,160
	2,500,000		AT&T, Inc	2.500		08/15/15		2,556
	20,750,000		AT&T, Inc	2.950		05/15/16		21,411
	2,000,000		AT&T, Inc	6.150		09/15/34		2,238
	11,500,000		AT&T, Inc	6.300		01/15/38		13,174
	3,886,000		AT&T, Inc	5.350		09/01/40		4,062
	13,125,000		BellSouth Corp	5.200		09/15/14		14,412
	1,975,000		BellSouth Corp	6.550		06/15/34		2,290
	13,850,000		Cellco Partnership	8.500		11/15/18		18,456
	4,000,000		Deutsche Telekom International Finance BV	8.750		06/15/30		5,335

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	8,500,000		France Telecom S.A.	2.130	%	09/16/15	$	8,413
	4,500,000	g	Globo Comunicacao e Participacoes S.A.	6.250		12/30/49		4,579
	2,500,000	g	Indosat Palapa Co	7.380		07/29/20		2,475
	2,000,000		Intelsat Jackson Holdings Ltd	11.250		06/15/16		2,040
	3,500,000	g	MTS International Funding Ltd	8.630		06/22/20		3,465
	5,150,000	g	Qtel International Finance	4.750		02/16/21		5,144
	3,000,000		Qwest Communications International, Inc	7.130		04/01/18		2,940
	3,000,000		Qwest Corp	8.880		03/15/12		3,101
	1,225,000		Sprint Nextel Corp	6.000		12/01/16		1,054
	3,075,000		Telecom Italia Capital S.A.	6.180		06/18/14		3,060
	2,825,000		Telecom Italia Capital S.A.	7.000		06/04/18		2,831
	6,275,000		Telecom Italia Capital S.A.	7.180		06/18/19		6,291
	21,100,000		Telefonica Emisiones SAU	3.990		02/16/16		20,076
	7,465,000		Telefonica Emisiones SAU	5.130		04/27/20		6,953
	4,750,000		Telefonica Emisiones SAU	5.460		02/16/21		4,511
	3,315,000	g	Telefonica Moviles Chile S.A.	2.880		11/09/15		3,170
	4,500,000		Telefonos de Mexico SAB de C.V.	5.500		11/15/19		4,815
	8,728,000	g	Telemar Norte Leste S.A.	5.500		10/23/20		8,292
	5,125,000		Verizon Communications, Inc	5.250		04/15/13		5,448
	1,250,000		Verizon Communications, Inc	5.500		02/15/18		1,449
	2,905,000		Verizon Communications, Inc	8.750		11/01/18		3,890
	3,100,000		Verizon Communications, Inc	8.950		03/01/39		4,788
	6,650,000		Verizon Communications, Inc	6.000		04/01/41		8,083
	6,500,000		Verizon Virginia, Inc	4.630		03/15/13		6,794
	4,500,000	g	Vimpelcom Holdings	7.500		03/01/22		3,623
	4,500,000		Virgin Media Finance plc	9.500		08/15/16		4,860
	5,400,000		Virgin Media Secured Finance plc	5.250		01/15/21		5,810
	735,000		Windstream Corp	8.130		09/01/18		741
			TOTAL TELECOMMUNICATION SERVICES					232,099
TRANSPORTATION - 0.7%
	5,730,000	g	Asciano Finance	5.000		04/07/18		5,859
	2,000,000	g	Bombardier, Inc	7.750		03/15/20		2,130
	2,840,000		Bristow Group, Inc	7.500		09/15/17		2,925
	2,400,000		Burlington Northern Santa Fe Corp	6.150		05/01/37		2,939
	7,000,000		Burlington Northern Santa Fe Corp	5.750		05/01/40		8,234
	5,000,000		Burlington Northern Santa Fe LLC	3.450		09/15/21		5,092
	4,700,000		Burlington Northern Santa Fe LLC	5.050		03/01/41		5,039
	3,500,000		Burlington Northern Santa Fe LLC	4.950		09/15/41		3,714
	7,000,000		Delta Air Lines, Inc	5.300		04/15/19		6,860
	2,325,000		Embraer Overseas Ltd	6.380		01/15/20		2,523
	1,000,000		Hertz Corp	7.500		10/15/18		955
	2,640,000		Kansas City Southern de Mexico S.A. de C.V.	8.000		02/01/18		2,812
	4,500,000		Kansas City Southern de Mexico S.A. de C.V.	6.630		12/15/20		4,635
	2,085,000		Kansas City Southern de Mexico S.A. de C.V.	6.130		06/15/21		2,064
	5,650,000	g	Kazakhstan Temir Zholy Finance BV	6.380		10/06/20		5,551
	2,500,000		Norfolk Southern Corp	5.750		01/15/16		2,869
	2,800,000		Norfolk Southern Corp	5.750		04/01/18		3,282
	2,056,000		Norfolk Southern Corp	5.590		05/17/25		2,367
	4,250,000	g	TAM Capital 3, Inc	8.380		06/03/21		3,910
	1,500,000		Union Pacific Corp	6.500		04/15/12		1,543
	5,578,000	g	Union Pacific Corp	4.160		07/15/22		5,953
	5,500,000		Union Pacific Corp	4.750		09/15/41		5,650

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	7,750,000		United Parcel Service, Inc	3.130	%	01/15/21	$	8,091
			TOTAL TRANSPORTATION					94,997
UTILITIES - 2.7%
	2,500,000		AES Corp	7.750		03/01/14		2,550
	4,300,000		AES El Salvador Trust	6.750		02/01/16		4,193
	3,785,000	g	AES Gener S.A.	5.250		08/15/21		3,664
	2,250,000		AGL Capital Corp	5.250		08/15/19		2,534
	2,000,000		AGL Capital Corp	6.000		10/01/34		2,307
	8,435,000		Alliant Energy Corp	4.000		10/15/14		8,785
	1,667,000		Arizona Public Service Co	5.050		09/01/41		1,817
	5,500,000		Atmos Energy Corp	8.500		03/15/19		7,427
	2,000,000	g	Calpine Corp	7.500		02/15/21		1,910
	4,500,000		Carolina Power & Light Co	5.130		09/15/13		4,861
	4,750,000		Carolina Power & Light Co	5.300		01/15/19		5,603
	2,750,000		Carolina Power & Light Co	5.700		04/01/35		3,270
	2,100,000		CenterPoint Energy Houston Electric LLC	7.000		03/01/14		2,366
	3,670,000		CenterPoint Energy Resources Corp	4.500		01/15/21		3,774
	3,550,000		CenterPoint Energy Resources Corp	6.250		02/01/37		4,044
	7,500,000		CenterPoint Energy Resources Corp	5.850		01/15/41		8,168
	2,500,000		CMS Energy Corp	5.050		02/15/18		2,470
	1,860,000	g	Comision Federal Electricidad	4.880		05/26/21		1,869
	3,055,000		Commonwealth Edison Co	4.000		08/01/20		3,223
	4,200,000		Commonwealth Edison Co	5.900		03/15/36		5,031
	2,750,000		Connecticut Light & Power Co	5.500		02/01/19		3,243
	3,500,000		Consolidated Edison Co of New York, Inc	5.700		06/15/40		4,270
	3,500,000		Consolidated Natural Gas Co	6.250		11/01/11		3,514
	4,250,000		Consolidated Natural Gas Co	5.000		12/01/14		4,670
	3,535,000		Dominion Resources, Inc	4.450		03/15/21		3,845
	4,000,000		Dominion Resources, Inc	4.900		08/01/41		4,140
	900,000	g	Dubai Electricity & Water Authority	8.500		04/22/15		959
	3,600,000	g	Dubai Electricity & Water Authority	7.380		10/21/20		3,474
	7,150,000		Duke Energy Carolinas LLC	5.750		11/15/13		7,841
	1,400,000		Duke Energy Carolinas LLC	4.300		06/15/20		1,546
	2,500,000	g	Empresa Electrica del Norte Grande S.A.	5.630		01/15/21		2,610
	2,000,000		Florida Power Corp	6.400		06/15/38		2,624
	3,500,000		FPL Group Capital, Inc	2.600		09/01/15		3,546
	5,000,000		Georgia Power Co	5.400		06/01/40		5,901
	6,170,000		Great Plains Energy, Inc	4.850		06/01/21		6,496
	5,000,000		Indiana Michigan Power Co	7.000		03/15/19		6,172
	2,725,000		Integrys Energy Group, Inc	4.170		11/01/20		2,806
	1,000,000	g	Kansas Gas & Electric	6.700		06/15/19		1,231
	2,460,000	g	Kazatomprom	6.250		05/20/15		2,478
	2,815,000		Kinder Morgan Energy Partners LP	5.850		09/15/12		2,929
	6,650,000		Kinder Morgan Energy Partners LP	3.500		03/01/16		6,823
	2,825,000		Kinder Morgan Energy Partners LP	9.000		02/01/19		3,609
	1,850,000	g	Korea Hydro & Nuclear Power Co Ltd	3.130		09/16/15		1,808
	5,150,000	g	Korea Hydro & Nuclear Power Co Ltd	4.750		07/13/21		5,139
	5,000,000		LG&E and KU Energy LLC	3.750		11/15/20		4,839
	5,950,000		Midamerican Energy Holdings Co	5.950		05/15/37		7,001
	4,000,000		National Fuel Gas Co	5.250		03/01/13		4,199
	2,800,000		Nevada Power Co	6.500		08/01/18		3,376
	3,500,000		Nevada Power Co	6.650		04/01/36		4,641

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,250,000		Nevada Power Co	5.380	%	09/15/40	$	3,766
	3,335,000		Nevada Power Co	5.450		05/15/41		3,911
	2,850,000		Oncor Electric Delivery Co LLC	5.250		09/30/40		3,169
	4,075,000		ONEOK Partners LP	5.900		04/01/12		4,165
	5,250,000		Pacific Gas & Electric Co	8.250		10/15/18		6,993
	2,350,000		Pacific Gas & Electric Co	3.250		09/15/21		2,325
	2,750,000		PacifiCorp	6.000		01/15/39		3,470
	4,825,000		Pepco Holdings, Inc	2.700		10/01/15		4,889
	6,750,000		PG&E Corp	5.750		04/01/14		7,402
	750,000		Potomac Electric Power Co	7.900		12/15/38		1,140
	2,000,000		PPL Electric Utilities Corp	3.000		09/15/21		1,995
	1,750,000		PPL Electric Utilities Corp	5.200		07/15/41		2,062
	3,825,000		Progress Energy, Inc	7.050		03/15/19		4,757
	2,000,000		Public Service Co of Colorado	7.880		10/01/12		2,138
	4,625,000		Public Service Co of Colorado	3.200		11/15/20		4,706
	8,800,000		Public Service Co of Oklahoma	5.150		12/01/19		9,771
	2,640,000		Public Service Electric & Gas Co	5.300		05/01/18		3,124
	5,000,000		Public Service Electric & Gas Co	3.500		08/15/20		5,162
	1,250,000		Questar Market Resources, Inc	6.880		03/01/21		1,306
	2,000,000		Sabine Pass LNG LP	7.250		11/30/13		1,935
	4,275,000		San Diego Gas & Electric Co	3.000		08/15/21		4,319
	3,100,000		San Diego Gas & Electric Co	5.350		05/15/40		3,809
	4,000,000		Sempra Energy	6.000		10/15/39		4,841
	9,475,000		Southern California Edison Co	3.880		06/01/21		10,267
	2,000,000		Spectra Energy Capital LLC	6.250		02/15/13		2,114
	2,600,000		Veolia Environnement	5.250		06/03/13		2,735
	4,500,000		Virginia Electric and Power Co	4.750		03/01/13		4,733
	3,000,000		Williams Partners LP	3.800		02/15/15		3,130
	5,350,000		Williams Partners LP	5.250		03/15/20		5,754
	6,200,000		Williams Partners LP	6.300		04/15/40		6,862
	3,000,000		Wisconsin Electric Power Co	5.630		05/15/33		3,627
	14,000,000	g	Wpd Investment Holdings Ltd	3.900		05/01/16		14,677
	4,000,000		Xcel Energy, Inc	4.800		09/15/41		4,230
	4,500,000	g	Xinao Gas Holdings Ltd	6.000		05/13/21		4,351
			TOTAL UTILITIES					349,231
			TOTAL CORPORATE BONDS					3,604,829
			(Cost $3,478,186)
GOVERNMENT BONDS - 66.2%
AGENCY SECURITIES - 9.3%
	9,750,000		Federal Farm Credit Bank (FFCB) FFCB	1.380		06/25/13		9,923
	15,000,000		Federal Home Loan Bank (FHLB) FHLB	1.880		06/21/13		15,383
	5,000,000		Federal Home Loan Mortgage Corp (FHLMC) FHLMC	1.750		06/15/12		5,052
	80,000,000		FHLMC	0.750		03/28/13		80,462
	6,000,000		FHLMC	3.500		05/29/13		6,310
	18,350,000		FHLMC	2.500		04/23/14		19,265
	20,000,000		FHLMC	3.000		07/28/14		21,327
	528,686		FHLMC	5.750		12/15/18		541

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
			Federal National Mortgage Association (FNMA)
$	2,000,000		FNMA	1.130	%	07/30/12	$	2,014
	10,000,000		FNMA	3.630		02/12/13		10,433
	20,500,000		FNMA	1.250		08/20/13		20,795
	24,500,000		FNMA	2.750		02/05/14		25,782
	76,000,000		FNMA	2.750		03/13/14		80,094
	25,500,000		FNMA	2.500		05/15/14		26,738
	23,500,000		FNMA	3.000		09/16/14		25,133
	35,000,000		FNMA	2.630		11/20/14		37,098
	21,486,892		AMAL Ltd	3.470		08/21/21		22,646
	4,898,904		Cal Dive I- Title XI, Inc	4.930		02/01/27		5,645
	34,000,000		Citigroup Funding, Inc	2.000		03/30/12		34,279
	35,000,000		Citigroup Funding, Inc	1.880		10/22/12		35,552
	12,000,000		Citigroup Funding, Inc	2.250		12/10/12		12,262
	5,500,000		Citigroup, Inc	2.130		04/30/12		5,561
	26,000,000	g,j	FDIC Structured Sale Guarantee	0.000		10/25/12		25,678
	61,500,000		General Electric Capital Corp	2.250		03/12/12		62,078
	37,400,000		General Electric Capital Corp	2.200		06/08/12		37,910
	15,000,000		General Electric Capital Corp	2.130		12/21/12		15,326
	7,000,000		General Electric Capital Corp	2.630		12/28/12		7,198
	54,875,000		GMAC, Inc	1.750		10/30/12		55,728
	61,800,000		GMAC, Inc	2.200		12/19/12		63,164
	23,000,000		JPMorgan Chase & Co	3.130		12/01/11		23,107
	30,000,000		Morgan Stanley	2.250		03/13/12		30,262
	2,972,610		National Credit Union Administration	1.840		10/07/20		3,010
	25,000,000	m	NCUA Guaranteed Notes	3.450		06/12/21		27,244
	10,000,000		New York Community Bank	3.000		12/16/11		10,060
	1,395,352		Overseas Private Investment Corp	3.420		01/15/15		1,450
	22,386,931		Premier Aircraft Leasing	3.580		02/06/22		23,767
	13,000,000		Private Export Funding Corp	4.900		12/15/11		13,124
	25,000,000		Private Export Funding Corp	3.550		04/15/13		26,183
	10,000,000		Private Export Funding Corp	3.050		10/15/14		10,659
	7,000,000		Private Export Funding Corp	4.550		05/15/15		7,869
	15,000,000		Private Export Funding Corp	2.130		07/15/16		15,482
	17,000,000		Private Export Funding Corp	5.450		09/15/17		20,666
	10,000,000		Private Export Funding Corp	2.250		12/15/17		10,344
	10,000,000		Private Export Funding Corp	4.380		03/15/19		11,588
	35,000,000		Private Export Funding Corp	4.300		12/15/21		40,106
	4,090,743		Rowan Cos, Inc	3.530		05/01/20		4,293
	8,333,160		Rowan Cos, Inc	3.160		07/15/21		8,649
	8,619,371		San Clemente Leasing LLC	3.590		08/27/21		9,138
	6,500,000		Sovereign Bancorp, Inc	2.750		01/17/12		6,546
	4,000,000		Sovereign Bancorp, Inc	2.500		06/15/12		4,059
	39,000,000		State Street Corp	2.150		04/30/12		39,434
	3,572,656		Totem Ocean Trailer Express, Inc	4.510		12/18/19		3,874
	15,000,000		US Bancorp	2.250		03/13/12		15,137
	9,500,000		US Central Federal Credit Union	1.900		10/19/12		9,665
	3,000,000		US Department of Housing and Urban Development	5.380		08/01/18		3,542
	18,400,000		Wells Fargo & Co	2.130		06/15/12		18,627
	5,000,000		Western Corporate Federal Credit Union	1.750		11/02/12		5,076
			TOTAL AGENCY SECURITIES					1,172,338

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
FOREIGN GOVERNMENT BONDS - 5.4%
$	16,500,000	g	Bank of Montreal	2.850	%	06/09/15	$	17,415
	27,700,000	g	Bank of Montreal	2.630		01/25/16		28,924
	2,000,000	g	Barbados Government International Bond	7.000		08/04/22		1,980
	4,210,000		Brazilian Government International Bond	5.880		01/15/19		4,831
	6,920,000		Brazilian Government International Bond	4.880		01/22/21		7,397
	825,000		Brazilian Government International Bond	7.130		01/20/37		1,054
	4,500,000		Brazilian Government International Bond	5.630		01/07/41		4,849
	10,680,000	g	Caisse Centrale Desjardins du Quebec	2.550		03/24/16		11,086
	12,200,000		Canada Government International Bond	2.380		09/10/14		12,840
	6,000,000	g	Canadian Imperial Bank of Commerce	2.600		07/02/15		6,250
	12,500,000	g	Canadian Imperial Bank of Commerce	2.750		01/27/16		13,092
	3,630,000		Chile Government International Bond	3.880		08/05/20		3,784
	2,675,000		Colombia Government International Bond	4.380		07/12/21		2,729
	4,500,000		Colombia Government International Bond	6.130		01/18/41		5,099
	4,500,000	g	Commonwealth of the Bahamas	6.950		11/20/29		4,905
	15,000,000		Council of Europe Development Bank	2.750		02/10/15		15,890
	4,370,000	g	Croatia Government International Bond	6.630		07/14/20		4,162
	3,350,000	g	Croatia Government International Bond	6.380		03/24/21		3,090
	2,350,000	g	Democratic Socialist Republic of Sri Lanka	7.400		01/22/15		2,421
	4,500,000	g	Dominican Republic International Bond	7.500		05/06/21		4,388
	4,660,000		Eksportfinans ASA	5.000		02/14/12		4,732
	5,854,000		Eksportfinans ASA	2.000		09/15/15		5,975
	9,400,000	g	El Salvador Government International Bond	7.630		02/01/41		9,024
	7,690,000	g	Eskom Holdings Ltd	5.750		01/26/21		7,767
	3,500,000		European Investment Bank	4.880		02/15/36		4,094
	15,350,000		Export Development Canada	2.250		05/28/15		16,133
	1,900,000		Export-Import Bank of Korea	5.130		06/29/20		1,926
	7,000,000		Export-Import Bank of Korea	4.380		09/15/21		6,594
	3,000,000		Federative Republic of Brazil	6.000		01/17/17		3,425
	3,105,556		Federative Republic of Brazil	8.000		01/15/18		3,669
	2,000,000		Hungary Government International Bond	4.750		02/03/15		1,960
	2,810,000		Hungary Government International Bond	6.380		03/29/21		2,734
	6,160,000		Hungary Government International Bond	7.630		03/29/41		6,006
	4,400,000		Italy Government International Bond	5.380		06/12/17		4,332
	1,610,000		Italy Government International Bond	6.880		09/27/23		1,586
	3,670,000	g	Korea Housing Finance Corp	3.500		12/15/16		3,653
	4,150,000		Landwirtschaftliche Rentenbank	5.250		07/02/12		4,296
	5,000,000		Landwirtschaftliche Rentenbank	5.130		02/01/17		5,901
	5,000,000	g	Lithuania Government International Bond	5.130		09/14/17		4,850
	1,000,000		Mexico Government International Bond	5.630		01/15/17		1,114
	2,900,000		Mexico Government International Bond	6.750		09/27/34		3,567
	5,000,000		Mexico Government International Bond	6.050		01/11/40		5,650
	9,250,000	g	National Bank of Canada	1.650		01/30/14		9,398
	2,000,000		Panama Government International Bond	5.200		01/30/20		2,189
	4,500,000		Panama Government International Bond	6.700		01/26/36		5,445
	1,000,000		Peruvian Government International Bond	7.130		03/30/19		1,208
	1,200,000		Peruvian Government International Bond	7.350		07/21/25		1,494
	1,250,000		Peruvian Government International Bond	6.550		03/14/37		1,450
	2,500,000		Philippine Government International Bond	5.500		03/30/26		2,616
	4,500,000		Poland Government International Bond	3.880		07/16/15		4,561
	6,350,000		Poland Government International Bond	6.380		07/15/19		6,985
	10,667,000		Poland Government International Bond	5.130		04/21/21		10,640
	3,044,000	g	Portugal Government International Bond	3.500		03/25/15		2,141

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	13,825,000		Province of British Columbia Canada	2.850	%	06/15/15	$	14,741
	4,500,000	g	Province of Buenos Aires Argentina	10.880		01/26/21		3,285
	7,400,000		Province of Manitoba Canada	5.000		02/15/12		7,521
	3,000,000		Province of Manitoba Canada	2.130		04/22/13		3,075
	20,000,000		Province of Manitoba Canada	1.380		04/28/14		20,385
	20,000,000		Province of New Brunswick Canada	2.750		06/15/18		20,913
	12,000,000		Province of Nova Scotia Canada	2.380		07/21/15		12,500
	27,400,000		Province of Ontario Canada	4.100		06/16/14		29,647
	24,250,000		Province of Ontario Canada	2.950		02/05/15		25,633
	35,525,000		Province of Ontario Canada	2.700		06/16/15		37,330
	24,000,000		Province of Ontario Canada	2.300		05/10/16		24,862
	11,900,000		Province of Ontario Canada	1.600		09/21/16		11,873
	10,000,000		Province of Ontario Canada	4.000		10/07/19		11,158
	13,000,000		Province of Ontario Canada	4.400		04/14/20		14,802
	2,250,000		Province of Quebec Canada	5.130		11/14/16		2,635
	8,835,000		Province of Quebec Canada	4.630		05/14/18		10,246
	22,500,000		Province of Quebec Canada	3.500		07/29/20		24,034
	20,000,000		Province of Quebec Canada	2.750		08/25/21		19,815
	6,000,000		Province of Quebec Canada	7.500		09/15/29		9,178
	3,000,000		Qatar Government International Bond	5.250		01/20/20		3,300
	2,500,000	g	Republic of Ghana	8.500		10/04/17		2,613
	2,700,000		Republic of Hungary	6.250		01/29/20		2,619
	4,230,000	g	Republic of Indonesia	4.880		05/05/21		4,272
	5,500,000	g	Republic of Serbia	7.250		09/28/21		5,060
	3,600,000		Republic of Serbia	6.750		11/01/24		3,366
	4,500,000		Republic of Turkey	7.500		07/14/17		5,119
	4,500,000		Republic of Turkey	6.000		01/14/41		4,286
	7,000,000	g	Russian Foreign Bond - Eurobond	3.630		04/29/15		6,878
	3,375,000	g	Russian Foreign Bond - Eurobond	5.000		04/29/20		3,316
	1,940,000	g	Senegal Goverment International Bond	8.750		05/13/21		1,896
	4,502,000		South Africa Government International Bond	6.880		05/27/19		5,357
	3,500,000		South Africa Government International Bond	5.500		03/09/20		3,828
	1,600,000		South Africa Government International Bond	6.250		03/08/41		1,784
	3,700,000	g	Sri Lanka Government International Bond	6.250		10/04/20		3,571
	1,630,000	g	Sri Lanka Government International Bond	6.250		07/27/21		1,567
	7,680,000		Svensk Exportkredit AB	5.130		03/01/17		8,883
	9,000,000	g	Toronto-Dominion Bank	2.200		07/29/15		9,280
	3,500,000	g	Ukraine Government International Bond	6.880		09/23/15		3,220
	4,000,000	g	Ukraine Government International Bond	6.250		06/17/16		3,555
	3,500,000	g	Ukraine Government International Bond	7.750		09/23/20		3,150
	2,180,000		United Mexican States	5.880		02/17/14		2,359
	3,500,000		United Mexican States	5.950		03/19/19		3,973
	500,000		United Mexican States	5.130		01/15/20		541
	4,500,000		Uruguay Government International Bond	6.880		09/28/25		5,288
			TOTAL FOREIGN GOVERNMENT BONDS					716,015
MORTGAGE BACKED - 31.2%
	23,765,090		Federal Home Loan Mortgage Corp (FHLMC) FHLMC (interest only)	4.000		06/15/34		2,812
	4,509,632	i	FHLMC	2.500		02/01/36		4,740
	5,671,997	i	FHLMC	2.570		07/01/36		6,008
	3,156,457	i	FHLMC	2.420		09/01/36		3,352
	3,979,694	i	FHLMC	2.740		09/01/36		4,176

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,441,431	i	FHLMC	5.280	%	09/01/36	$	3,588
	3,995,094	i	FHLMC	5.290		09/01/36		4,217
	7,119,795	i	FHLMC	5.740		02/01/37		7,708
	8,991,674	i	FHLMC	4.700		03/01/37		9,464
	7,322,891	i	FHLMC	5.930		04/01/37		7,953
	467,640	i	FHLMC	5.740		05/01/37		505
	5,406,894	i	FHLMC	5.600		06/01/37		5,759
	5,308,799	i	FHLMC	5.630		08/01/37		5,665
	4,452,175	i	FHLMC	5.180		09/01/37		4,732
	20,069,836		FHLMC	5.500		08/01/39		22,150
	92,828		Federal Home Loan Mortgage Corp Gold (FGLMC) FGLMC	7.000		07/01/13		97
	719,876		FGLMC	6.500		12/01/16		784
	5,190,868		FGLMC	5.000		09/01/18		5,613
	2,668,243		FGLMC	4.500		10/01/18		2,851
	1,536,317		FGLMC	4.500		11/01/18		1,642
	1,541,451		FGLMC	5.500		01/01/19		1,688
	718,433		FGLMC	4.000		06/01/19		764
	2,817,406		FGLMC	4.500		01/01/20		3,014
	2,272,943		FGLMC	4.500		07/01/20		2,458
	1,486,380		FGLMC	4.500		08/01/20		1,590
	232,873		FGLMC	7.000		10/01/20		268
	20,648,253		FGLMC	4.500		06/01/21		22,082
	6,808,368		FGLMC	4.500		06/01/21		7,281
	2,614,162		FGLMC	5.000		04/01/23		2,809
	43,014		FGLMC	7.000		05/01/23		49
	570,747		FGLMC	6.000		10/01/23		628
	460,815		FGLMC	6.000		11/01/23		507
	10,502,670		FGLMC	4.000		07/01/24		11,063
	3,503,088		FGLMC	4.500		09/01/24		3,722
	33,000,000	h	FGLMC	5.000		10/15/25		35,423
	102,699		FGLMC	8.000		01/01/31		122
	71,676		FGLMC	7.000		11/01/31		83
	168,407		FGLMC	7.000		12/01/31		195
	84,707		FGLMC	7.000		12/01/31		98
	141,418		FGLMC	7.000		12/01/31		163
	6,503		FGLMC	7.000		01/01/32		8
	359,842		FGLMC	8.000		02/01/32		426
	4,855,355		FGLMC	4.500		07/01/33		5,172
	2,460,544		FGLMC	5.500		11/01/33		2,712
	11,100,683		FGLMC	5.500		12/01/33		12,092
	3,567,808		FGLMC	5.500		12/01/33		3,887
	17,011,711		FGLMC	7.000		12/01/33		19,642
	35,270,862		FGLMC	5.000		01/01/34		38,032
	7,265,312		FGLMC	5.000		05/01/34		7,832
	4,640,777		FGLMC	6.000		09/01/34		5,139
	15,740,269		FGLMC	4.500		10/01/34		16,767
	1,083,589		FGLMC	5.500		12/01/34		1,189
	6,295,411		FGLMC	4.500		04/01/35		6,706
	2,413,232		FGLMC	6.000		05/01/35		2,681
	1,376,730		FGLMC	6.000		05/01/35		1,530
	1,872,609		FGLMC	6.000		05/01/35		2,078
	2,507,267		FGLMC	6.000		05/01/35		2,786

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,320,330		FGLMC	6.000	%	05/01/35	$	4,801
	2,720,473		FGLMC	6.000		05/01/35		3,023
	6,783,099		FGLMC	7.000		05/01/35		7,832
	1,405,692		FGLMC	5.500		06/01/35		1,531
	1,132,431		FGLMC	5.500		06/01/35		1,233
	3,270,221		FGLMC	5.500		06/01/35		3,561
	13,795,219		FGLMC	5.500		06/01/35		15,024
	2,774,116		FGLMC	6.000		06/01/35		3,082
	10,603,959		FGLMC	4.500		08/01/35		11,282
	1,347,209		FGLMC	5.000		10/01/35		1,451
	441,255		FGLMC	6.500		11/01/35		497
	1,289,958		FGLMC	6.000		01/01/36		1,420
	2,748,322		FGLMC	5.000		02/01/36		2,961
	1,190,112		FGLMC	5.500		04/01/36		1,306
	828,683		FGLMC	6.500		05/01/36		925
	7,012,284		FGLMC	6.500		10/01/36		7,826
	12,636,063		FGLMC	5.500		04/01/37		13,715
	19,097,780		FGLMC	5.500		05/01/37		20,728
	7,691,057		FGLMC	6.000		08/01/37		8,546
	3,112,206		FGLMC	6.000		09/01/37		3,458
	4,377,110		FGLMC	6.500		11/01/37		4,869
	14,189,191		FGLMC	5.000		04/01/38		15,391
	9,970,683		FGLMC	6.000		11/01/38		10,943
	12,120,273		FGLMC	4.500		05/01/39		12,838
	16,308,701		FGLMC	4.000		06/01/39		17,102
	8,626,550		FGLMC	5.000		07/01/39		9,266
	12,342,752		FGLMC	6.000		07/01/39		13,784
	85,000,000	h	FGLMC	5.000		10/15/40		91,136
	22,774,380		FGLMC	4.500		11/01/40		24,535
	25,303,839		FGLMC	4.500		12/01/40		27,181
	115,000,000	h	FGLMC	4.500		10/15/41		121,630
	60,468		Federal National Mortgage Association (FNMA) FNMA	5.000		06/01/13		63
	2,602,187		FNMA	4.440		07/01/13		2,709
	3,299,367		FNMA	4.750		10/01/13		3,369
	1,332,969		FNMA	4.780		02/01/14		1,410
	5,167,347		FNMA	4.440		04/01/14		5,481
	1,483,243		FNMA	4.560		01/01/15		1,590
	194,281		FNMA	7.500		02/01/15		211
	541,185		FNMA	7.500		04/01/15		588
	429,470		FNMA	7.500		04/01/15		457
	44,673		FNMA	6.500		03/01/16		49
	17,074		FNMA	6.500		04/01/16		19
	356,025		FNMA	6.500		10/01/16		391
	295,949		FNMA	6.500		11/01/16		325
	2,993,620		FNMA	5.000		12/01/17		3,239
	852,010		FNMA	6.500		02/01/18		936
	2,226,435		FNMA	5.500		03/01/18		2,421
	5,267,135		FNMA	5.500		04/01/18		5,729
	451,414		FNMA	5.500		04/01/18		487
	677,260		FNMA	6.500		04/01/18		744
	168,378		FNMA	5.500		05/01/18		183
	9,008,304		FNMA	4.500		12/01/18		9,650

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	272,990		FNMA	6.000	%	01/01/19	$	300
	60,523		FNMA	6.000		02/01/19		66
	5,071,576		FNMA	5.000		04/01/19		5,487
	2,582,255		FNMA	4.500		06/01/19		2,767
	3,656,690		FNMA	5.000		03/01/20		3,956
	1,983,556		FNMA	5.500		07/01/20		2,171
	1,236,492		FNMA	4.500		11/01/20		1,325
	3,549,347		FNMA	5.000		12/01/20		3,838
	5,555,844		FNMA	5.000		03/01/21		6,011
	3,288,147		FNMA	5.500		08/01/21		3,568
	3,353,707		FNMA	4.500		03/01/23		3,576
	98,956		FNMA	8.000		03/01/23		115
	7,454,398		FNMA	4.500		06/01/23		7,948
	7,282,316		FNMA	5.000		07/01/23		7,834
	6,555,728		FNMA	5.000		07/01/23		7,052
	2,905,551		FNMA	5.000		12/01/23		3,175
	864,308		FNMA	5.500		02/01/24		947
	9,924,194		FNMA	4.000		05/01/24		10,474
	1,696,145		FNMA	5.500		07/01/24		1,857
	262,955		FNMA	8.000		07/01/24		306
	3,382,447		FNMA	4.500		08/01/24		3,602
	2,271,967		FNMA	5.500		08/01/24		2,487
	15,351,397		FNMA	4.000		09/01/24		16,202
	7,638,955		FNMA	5.000		10/01/25		8,300
	22,000,000	h	FNMA	4.000		10/25/25		23,183
	22,000,000	h	FNMA	4.500		10/25/25		23,406
	58,089		FNMA	9.000		11/01/25		68
	12,000,000	h	FNMA	3.000		10/25/26		12,362
	4,275,048		FNMA	6.500		07/01/32		4,811
	243,680		FNMA	7.000		07/01/32		281
	255,531		FNMA	7.000		07/01/32		294
	5,270,471		FNMA	5.500		01/01/33		5,759
	4,277,506		FNMA	6.000		01/01/33		4,700
	766,499		FNMA	5.000		02/01/33		828
	6,142,204		FNMA	4.500		03/25/33		6,574
	3,060,238		FNMA	4.500		08/01/33		3,268
	3,614,028		FNMA	5.000		08/01/33		3,906
	5,792,215		FNMA	4.500		10/01/33		6,186
	3,417,473		FNMA	5.000		10/01/33		3,693
	2,084,061		FNMA	5.000		10/01/33		2,252
	1,003,942		FNMA	5.000		10/01/33		1,085
	26,111,306		FNMA	5.000		11/01/33		28,220
	549,336		FNMA	5.000		11/01/33		594
	6,389,166		FNMA	5.000		11/01/33		6,905
	5,802,277		FNMA	5.000		11/01/33		6,271
	5,088,271		FNMA	5.500		12/01/33		5,609
	618,876		FNMA	5.500		12/01/33		676
	1,843,388		FNMA	5.500		12/01/33		2,015
	1,390,340		FNMA	5.000		03/01/34		1,503
	3,528,381		FNMA	5.000		03/01/34		3,813
	1,214,276		FNMA	5.000		03/01/34		1,312
	9,239,424		FNMA	5.000		03/01/34		9,986
	1,093,597		FNMA	5.000		03/01/34		1,182

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,577,284		FNMA	5.500	%	03/01/34	$	5,065
	9,296,685		FNMA	5.000		04/01/34		10,045
	34,527,606		FNMA	5.000		08/01/34		37,306
	5,378,181		FNMA	6.000		08/01/34		5,970
	2,351,880		FNMA	5.500		09/01/34		2,597
	1,930,176		FNMA	5.500		09/01/34		2,136
	1,425,489		FNMA	5.500		10/01/34		1,563
	1,758,668		FNMA	5.500		10/01/34		1,946
	1,733,815		FNMA	6.000		12/01/34		1,929
	3,257,603		FNMA	5.500		01/01/35		3,586
	36,706,849		FNMA	5.500		02/01/35		40,122
	2,656,294		FNMA	5.500		04/01/35		2,939
	3,482,173		FNMA	6.000		04/01/35		3,858
	9,274,091		FNMA	4.500		05/01/35		9,905
	12,606,924		FNMA	5.500		05/01/35		13,764
	4,363,893		FNMA	6.000		05/01/35		4,855
	2,038,032		FNMA	5.500		06/01/35		2,226
	1,473,651		FNMA	5.500		06/01/35		1,610
	3,195,705		FNMA	5.500		06/01/35		3,489
	561,550		FNMA	5.500		06/01/35		613
	615,775		FNMA	5.500		06/01/35		681
	112,828		FNMA	7.500		06/01/35		132
	1,399,937		FNMA	5.500		07/01/35		1,528
	1,996,756		FNMA	6.000		07/01/35		2,204
	5,264,337		FNMA	4.500		08/01/35		5,612
	7,454,859		FNMA	5.000		08/01/35		8,049
	7,945,702		FNMA	5.500		09/01/35		8,792
	8,220,619		FNMA	5.000		10/01/35		8,876
	4,157,904		FNMA	5.500		11/01/35		4,540
	4,146,558	i	FNMA	2.400		02/01/36		4,364
	8,017,102		FNMA	5.000		02/01/36		8,656
	15,908,449		FNMA	6.000		03/01/36		17,520
	2,424,497		FNMA	5.000		04/01/36		2,616
	1,669,384	i	FNMA	2.390		07/01/36		1,743
	3,263,238		FNMA	6.500		09/01/36		3,639
	5,709,873		FNMA	6.000		12/01/36		6,288
	5,791,041		FNMA	6.500		03/01/37		6,459
	207,044		FNMA	6.500		03/01/37		230
	4,099,184		FNMA	7.000		04/01/37		4,708
	7,015,193		FNMA	6.500		08/01/37		7,802
	2,352,904		FNMA	6.500		08/01/37		2,629
	4,151,088		FNMA	6.000		09/01/37		4,662
	4,731,368		FNMA	6.000		09/01/37		5,314
	2,664,796		FNMA	6.000		09/01/37		2,993
	3,575,302		FNMA	6.000		09/01/37		4,016
	6,604,556		FNMA	6.500		09/01/37		7,325
	5,963,326		FNMA	6.500		09/01/37		6,632
	2,868,507		FNMA	6.500		09/01/37		3,181
	5,395,916		FNMA	6.500		09/01/37		5,984
	787,390		FNMA	6.500		09/01/37		874
	9,900,941	i	FNMA	5.870		10/01/37		10,542
	2,062,067		FNMA	7.000		11/01/37		2,368
	528,822		FNMA	6.500		01/01/38		586

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	213,587		FNMA	6.500	%	02/01/38	$	237
	3,020,523		FNMA	6.500		03/01/38		3,346
	369,052		FNMA	6.500		03/01/38		409
	1,086,485		FNMA	6.500		03/01/38		1,204
	3,506,321		FNMA	5.000		04/01/38		3,776
	6,816,560		FNMA	5.000		05/01/38		7,340
	13,117,751		FNMA	6.000		07/01/38		14,418
	5,641,495	i	FNMA	4.930		10/01/38		6,046
	24,013,565		FNMA	6.000		10/01/38		26,394
	192,000,000	h	FNMA	5.000		10/25/38		206,520
	266,000,000	h	FNMA	6.000		10/25/38		291,769
	25,000,000	h	FNMA	6.500		10/25/38		27,555
	9,464,586		FNMA	4.500		01/01/39		10,060
	5,898,187		FNMA	5.500		01/01/39		6,410
	6,680,027		FNMA	6.000		01/01/39		7,338
	5,009,099		FNMA	6.000		01/01/39		5,502
	9,985,795		FNMA	4.500		02/01/39		10,614
	17,949,021		FNMA	4.500		02/01/39		19,077
	5,766,299		FNMA	5.500		02/01/39		6,267
	9,759,159		FNMA	4.000		04/01/39		10,294
	14,339,312		FNMA	4.500		05/01/39		15,232
	12,385,710		FNMA	4.500		08/01/39		13,157
	253,000,000	h	FNMA	4.000		10/25/39		265,176
	141,000,000	h	FNMA	4.500		10/25/39		149,570
	355,000,000	h	FNMA	5.500		10/25/39		385,229
	31,000,000		FNMA	4.000		02/25/40		33,068
	78,362,866		FNMA	4.500		09/01/40		83,240
	50,300,845		FNMA	4.500		09/01/40		53,432
	80,000,000	h	FNMA	3.500		10/25/40		82,188
	19,251,526		FNMA	4.000		11/01/40		20,204
	31,658,562		FNMA	4.500		11/01/40		33,629
	18,641		Government National Mortgage Association (GNMA) GNMA	9.000		06/15/16		21
	4,058		GNMA	9.000		09/15/16		4
	7,541		GNMA	9.000		09/15/16		8
	11,496		GNMA	9.000		11/15/16		12
	3,594		GNMA	9.000		12/15/16		4
	8,121		GNMA	9.000		12/15/16		8
	77,424		GNMA	9.500		12/15/16		88
	34,130		GNMA	8.000		06/15/24		40
	60,470		GNMA	8.500		11/20/30		73
	66,865		GNMA	8.500		12/20/30		81
	2,813,632		GNMA	5.500		07/15/33		3,127
	1,352,558		GNMA	5.500		11/20/33		1,507
	5,097,223		GNMA	5.500		03/20/35		5,681
	2,993,981		GNMA	5.500		12/20/35		3,334
	1,891,734		GNMA	6.000		10/20/36		2,116
	2,006,361		GNMA	6.000		01/20/37		2,244
	5,646,825		GNMA	6.000		02/20/37		6,308
	5,536,877		GNMA	6.000		12/15/37		6,182
	7,599,585		GNMA	5.000		04/15/38		8,354
	9,531,435		GNMA	5.500		07/15/38		10,539
	8,704,504		GNMA	5.500		07/20/38		9,647

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,713,160		GNMA	6.000	%	08/15/38	$	3,028
	2,832,497		GNMA	6.000		08/20/38		3,160
	48,000,000	h	GNMA	5.500		10/15/38		53,025
	3,695,658		GNMA	6.500		11/20/38		4,185
	11,879,632		GNMA	4.500		03/15/39		12,953
	13,237,599		GNMA	4.500		05/15/39		14,433
	6,418,221		GNMA	5.000		06/15/39		7,106
	5,725,847		GNMA	5.000		06/15/39		6,339
	14,773,885		GNMA	4.500		07/20/39		16,049
	4,658,933		GNMA	5.000		07/20/39		5,127
	5,412,042		GNMA	4.000		08/15/39		5,798
	115,000,000	h	GNMA	4.500		10/15/39		124,937
	135,000,000	h	GNMA	5.000		10/15/39		148,247
	40,000,000	h	GNMA	6.000		10/15/39		44,606
	1,758,828		GNMA	4.000		11/20/39		1,896
	50,000,000	h	GNMA	5.000		10/20/40		54,914
	130,000,000	h	GNMA	4.000		10/15/41		139,019
	91,000,000	h	GNMA	4.500		10/20/41		98,635
	10,156,427		GNMA	6.230		09/15/43		10,716
	7,899,796		GNMA	6.500		01/15/44		8,789
			TOTAL MORTGAGE BACKED					4,041,646
MUNICIPAL BONDS - 0.5%
	2,000,000		Charlotte-Mecklenburg Hospital Authority	5.000		08/01/15		2,175
	13,000,000		Grant County Public Utility District No 2	5.630		01/01/27		14,686
	16,100,000		State of California	7.630		03/01/40		19,847
	15,250,000		State of Illinois	6.730		04/01/35		16,166
	15,000,000		UNM Sandoval Regional Medical Center	4.500		07/20/36		15,956
			TOTAL MUNICIPAL BONDS					68,830
U.S. TREASURY SECURITIES - 19.8%
	345,372,000		United States Treasury Bond	8.000		11/15/21		539,428
	22,000,000		United States Treasury Bond	6.380		08/15/27		33,089
	49,175,000		United States Treasury Bond	5.250		02/15/29		67,162
	147,861,000		United States Treasury Bond	5.380		02/15/31		207,999
	677,000		United States Treasury Bond	4.500		02/15/36		877
	111,855,000		United States Treasury Bond	3.500		02/15/39		124,369
	26,070,000		United States Treasury Bond	3.880		08/15/40		30,974
	73,222,000		United States Treasury Bond	4.380		05/15/41		94,594
	16,650,000		United States Treasury Note	1.880		06/15/12		16,850
	5,410,000		United States Treasury Note	0.630		06/30/12		5,429
	6,477,000		United States Treasury Note	1.380		10/15/12		6,556
	102,500,000		United States Treasury Note	1.380		11/15/12		103,853
	24,690,000		United States Treasury Note	0.630		01/31/13		24,825
	30,940,000		United States Treasury Note	1.130		06/15/13		31,386
	8,435,000		United States Treasury Note	0.750		08/15/13		8,508
	1,575,000		United States Treasury Note	0.130		08/31/13		1,571
	25,195,000		United States Treasury Note	3.130		08/31/13		26,556
	81,829,000		United States Treasury Note	3.130		09/30/13		86,445
	3,835,000		United States Treasury Note	0.500		10/15/13		3,850
	62,337,000		United States Treasury Note	2.750		10/31/13		65,473
	68,179,000		United States Treasury Note	2.000		11/30/13		70,635
	6,467,000		United States Treasury Note	2.250		05/31/14		6,782

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,760,000		United States Treasury Note	0.630	%	07/15/14	$	3,783
	4,880,000		United States Treasury Note	0.500		08/15/14		4,893
	22,415,000		United States Treasury Note	2.130		11/30/14		23,571
	19,897,000		United States Treasury Note	2.500		04/30/15		21,251
	147,421,000		United States Treasury Note	2.130		05/31/15		155,563
	37,717,000		United States Treasury Note	1.880		06/30/15		39,461
	70,952,000		United States Treasury Note	1.750		07/31/15		73,940
	26,332,500		United States Treasury Note	1.250		09/30/15		26,917
	18,485,000		United States Treasury Note	1.250		10/31/15		18,876
	9,900,000		United States Treasury Note	2.250		03/31/16		10,524
	9,800,000		United States Treasury Note	2.380		03/31/16		10,467
	34,000,000		United States Treasury Note	1.500		06/30/16		34,938
	228,850,000		United States Treasury Note	1.000		08/31/16		229,423
	10,000,000		United States Treasury Note	3.130		10/31/16		11,060
	7,300,000		United States Treasury Note	2.880		03/31/18		8,013
	92,420,000		United States Treasury Note	2.380		05/31/18		98,376
	125,000,000		United States Treasury Note	2.250		07/31/18		131,914
	10,515,000		United States Treasury Note	1.500		08/31/18		10,566
	319,500		United States Treasury Note	2.630		11/15/20		342
	18,377,900		United States Treasury Note	2.130		08/15/21		18,702
	51,500,000		United States Treasury Note	3.750		08/15/41		59,957
	25,000,000	j	United States Treasury Strip Principal	0.000		08/15/27		16,125
			TOTAL U.S. TREASURY SECURITIES					2,565,873
			TOTAL GOVERNMENT BONDS					8,564,702
			(Cost $8,141,128)
STRUCTURED ASSETS - 4.6%
ASSET BACKED - 1.2%
	4,950,000		AmeriCredit Automobile Receivables Trust	3.340		04/08/16		5,037
			Series - 2010 3 (Class C)
	5,350,000		AmeriCredit Automobile Receivables Trust	2.850		08/08/16		5,393
			Series - 2011 1 (Class C)
	74,236	g	Asset Backed Funding Corp NIM Trust	5.900		07/26/35		0	^
			Series - 2006 WMC1 (Class N1)
	1,450,000	g	Avis Budget Rental Car Funding AESOP LLC	3.150		03/20/17		1,494
			Series - 2010 5A (Class A)
	2,360,274	i	Chase Funding Mortgage Loan Asset-Backed Certificates	5.700		02/25/35		1,258
			Series - 2004 2 (Class 1M1)
	1,180,137	i	Chase Funding Mortgage Loan Asset-Backed Certificates	5.700		02/25/35		398
			Series - 2004 2 (Class 1M2)
	927,250	i	Chase Funding Mortgage Loan Asset-Backed Certificates	5.700		02/25/35		206
			Series - 2004 2 (Class 1B)
	2,839,919		CIT Group Home Equity Loan Trust	6.200		02/25/30		2,831
			Series - 2002 1 (Class AF6)
	682,305		CIT Group Home Equity Loan Trust	6.390		12/25/30		113
			Series - 2002 2 (Class MF2)
	6,559		CIT Group Home Equity Loan Trust	6.830		06/25/33		0	^
			Series - 2002 2 (Class BF)
	7,048,887		Citicorp Mortgage Securities, Inc	5.710		07/25/36		7,051
			Series - 2006 1 (Class A3)
	851,802		Citicorp Mortgage Securities, Inc	5.560		09/25/36		850
			Series - 2006 2 (Class A3)

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,105,319	i	Countrywide Asset-Backed Certificates	0.670	%	05/25/36	$	995
			Series - 2004 AB2 (Class A3)
	5,107,671	i	Countrywide Asset-Backed Certificates	5.680		10/25/46		4,938
			Series - 2006 15 (Class A2)
	605,290	i	Countrywide Home Equity Loan Trust	0.450		02/15/29		397
			Series - 2004 B (Class 1A)
	3,493,843	g	Credit-Based Asset Servicing and Securitization LLC	6.160		12/25/36		3,359
			Series - 2007 MX1 (Class A1)
	14,802,435	g	Flagstar Home Equity Loan Trust	5.780		01/25/35		13,762
			Series - 2007 1A (Class AF3)
	2,725,000		Ford Credit Auto Owner Trust	3.210		07/15/17		2,812
			Series - 2011 A (Class D)
	1,004,163		GMAC Commercial Mortgage Securities, Inc	5.590		10/25/29		994
			Series - 2006 HLTV (Class A3)
	2,600,000		GMAC Commercial Mortgage Securities, Inc	5.810		10/25/29		2,065
			Series - 2006 HLTV (Class A4)
	3,540,721	i	Irwin Home Equity Corp	0.610		02/25/34		2,910
			Series - 2005 A (Class A3)
	21,846,085		Lehman XS Trust	6.500		06/25/46		12,154
			Series - 2006 13 (Class 2A1)
	2,911,996	i	Long Beach Mortgage Loan Trust	0.690		02/25/35		2,868
			Series - 2005 1 (Class M1)
	1,242,733	i	Morgan Stanley ABS Capital I	0.270		01/25/37		1,210
			Series - 2007 HE2 (Class A2A)
	2,886,016	i	Park Place Securities, Inc	0.860		09/25/34		2,525
			Series - 2004 WHQ1 (Class M1)
	42,628	i	Renaissance Home Equity Loan Trust	0.670		08/25/33		35
			Series - 2003 2 (Class A)
	8,025,000		Renaissance Home Equity Loan Trust	5.590		11/25/36		3,395
			Series - 2006 3 (Class AF3)
	8,816,789	i	Residential Asset Mortgage Products, Inc	0.850		11/25/34		8,033
			Series - 2004 RS11 (Class M1)
	468,626	i	Residential Asset Securities Corp	6.490		10/25/30		425
			Series - 2001 KS2 (Class AI6)
	2,676,134	i	Residential Asset Securities Corp	0.660		04/25/35		2,308
			Series - 2005 KS3 (Class M3)
	1,176,721		Residential Funding Mortgage Securities II, Inc	5.520		04/25/21		1,163
			Series - 2006 HI5 (Class A2)
	13,500,000		Residential Funding Mortgage Securities II, Inc	5.500		08/25/25		11,178
			Series - 2006 HI5 (Class A3)
	3,728,269		Residential Funding Mortgage Securities II, Inc	5.450		08/25/34		2,888
			Series - 2005 HI1 (Class A5)
	5,176,360		Residential Funding Mortgage Securities II, Inc	5.960		02/25/36		4,626
			Series - 2006 HI3 (Class A3)
	2,500,000		Residential Funding Mortgage Securities II, Inc	6.010		02/25/36		2,142
			Series - 2006 HI1 (Class M1)
	350,000		Residential Funding Mortgage Securities II, Inc	6.060		02/25/36		264
			Series - 2006 HI1 (Class M2)
	19,219,196		Residential Funding Mortgage Securities II, Inc	5.440		09/25/36		17,404
			Series - 2006 HI4 (Class A3)
	2,424,588	i	Securitized Asset Backed Receivables LLC Trust	0.380		03/25/36		2,273
			Series - 2006 NC2 (Class A2)

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	6,000,000	g	SLM Student Loan Trust	4.370	%	04/17/28	$	6,355
			Series - 2011 A (Class A2)
	2,000,000	g	SLM Student Loan Trust	3.740		02/15/29		2,011
			Series - 2011 B (Class A2)
	6,646,348	i	Soundview Home Equity Loan Trust	0.340		10/25/36		6,488
			Series - 2006 EQ1 (Class A2)
	1,928,295	i	Structured Asset Investment Loan Trust	0.630		05/25/35		1,834
			Series - 2005 4 (Class M1)
	1,310,265	g,m	Wachovia Amortization Controlled Heloc NIM	5.680		08/12/47		1,081
			Series - 2006 N1 (Class N1)
	2,768,834	g,i	Wachovia Loan Trust	0.590		05/25/35		2,177
			Series - 2005 SD1 (Class A)
	3,068,327	i	Wells Fargo Home Equity Trust	0.370		07/25/36		2,642
			Series - 2006 2 (Class A3)
	540,000		World Financial Network Credit Card Master Trust	5.200		04/15/19		586
			Series - 2010 A (Class M)
	5,000,000		World Financial Network Credit Card Master Trust	6.750		04/15/19		5,583
			Series - 2010 A (Class B)
			TOTAL ASSET BACKED					160,511
OTHER MORTGAGE BACKED - 3.4%
	4,094,000	i	Banc of America Commercial Mortgage, Inc	4.770		07/10/43		3,633
			Series - 2005 3 (Class AJ)
	10,500,000		Banc of America Commercial Mortgage, Inc	5.680		07/10/46		9,796
			Series - 2006 4 (Class AM)
	9,773,000	i	Banc of America Commercial Mortgage, Inc	5.820		04/10/49		10,446
			Series - 2007 2 (Class A4)
	312,732		Bank of America Alternative Loan Trust	5.500		09/25/19		312
			Series - 2004 8 (Class 3A1)
	5,140,475		Bear Stearns Asset Backed Securities Trust	5.250		04/25/35		4,639
			Series - 2005 AC2 (Class 1A)
	3,570,153		Bear Stearns Commercial Mortgage Securities	5.200		12/11/38		3,859
			Series - 2006 PW14 (Class A4)
	6,800,000	i	Bear Stearns Commercial Mortgage Securities	5.580		09/11/41		6,695
			Series - 2006 PW13 (Class AM)
	6,375,000	i	Bear Stearns Commercial Mortgage Securities	5.570		10/12/41		6,291
			Series - 2006 T24 (Class AM)
	10,445,000	i	Bear Stearns Commercial Mortgage Securities	4.750		02/13/46		11,126
			Series - 2004 T16 (Class A6)
	1,290,000	i	Bear Stearns Commercial Mortgage Securities	5.690		06/11/50		1,373
			Series - 2007 PW17 (Class A4)
	2,695,000		Bear Stearns Commercial Mortgage Securities	5.700		06/11/50		2,901
			Series - 2007 PW18 (Class A4)
	9,330,000	i	Commercial Mortgage Pass Through Certificates	5.650		12/10/49		8,408
			Series - 2007 C9 (Class AM)
	6,131,790		Countrywide Alternative Loan Trust	5.500		08/25/16		6,190
			Series - 2004 30CB (Class 1A15)
	5,191,777		Countrywide Home Loan Mortgage Pass Through Trust	5.250		02/25/16		4,928
			Series - 2005 6 (Class 1A10)
	3,024,124		Countrywide Home Loan Mortgage Pass Through Trust	5.250		05/25/35		2,940
			Series - 2005 12 (Class 1A5)
	1,885,065		Countrywide Home Loan Mortgage Pass Through Trust	5.500		09/25/35		1,859
			Series - 2005 J3 (Class 1A1)

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,521,399	g,i	Credit Suisse Mortgage Capital Certificates	0.410	%	04/15/22	$	4,095
			Series - 2007 TF2A (Class A1)
	14,450,000	g	Credit Suisse Mortgage Capital Certificates	5.380		02/15/40		13,398
			Series - 2009 RR1 (Class A3C)
	3,700,000		CS First Boston Mortgage Securities Corp	4.050		05/15/38		3,657
			Series - 2003 C3 (Class B)
	9,863,000	i	CS First Boston Mortgage Securities Corp	5.100		08/15/38		10,687
			Series - 2005 C5 (Class A4)
	5,525,000	g,i	DB/UBS Mortgage Trust	5.730		11/10/46		4,882
			Series - 2011 LC1A (Class C)
	654,941		First Horizon Asset Securities, Inc	5.500		11/25/33		657
			Series - 2003 9 (Class 1A4)
	5,828,789	i	GMAC Mortgage Corp Loan Trust	4.560		10/19/33		5,953
			Series - 2003 AR1 (Class A5)
	27,604,000	i	Greenwich Capital Commercial Funding Corp	5.890		07/10/38		25,813
			Series - 2006 GG7 (Class AM)
	19,762,248		Greenwich Capital Commercial Funding Corp	5.740		12/10/49		20,516
			Series - 2007 GG11 (Class A4)
	8,762,000	g	GS Mortgage Securities Corp II	5.150		08/10/43		8,301
			Series - 2010 C1 (Class B)
	4,670,000	g,i	GS Mortgage Securities Corp II	5.400		12/10/43		3,976
			Series - 2010 C2 (Class C)
	5,910,000	g,i	GS Mortgage Securities Corp II	5.400		12/10/43		5,604
			Series - 2010 C2 (Class B)
	2,343,239	i	GSR Mortgage Loan Trust	2.790		01/25/36		2,196
			Series - 2006 AR1 (Class 2A2)
	1,076,985	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	0.410		02/15/20		1,050
			Series - 2006 FL1A (Class A2)
	1,290,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	5.070		11/15/43		1,224
			Series - 2010 C2 (Class B)
	2,500,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	5.720		11/15/43		2,317
			Series - 2010 C2 (Class C)
	11,025,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.440		05/15/45		10,647
			Series - 2006 LDP8 (Class AM)
	7,000,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	5.480		05/15/45		5,498
			Series - 2006 LDP8 (Class AJ)
	6,455,000	g,i,m	JP Morgan Chase Commercial Mortgage Securities Corp	5.430		07/15/46		5,588
			Series - 2011 C4 (Class C)
	4,695,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.340		05/15/47		4,848
			Series - 2006 LDP9 (Class A3)
	1,400,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	5.820		06/15/49		1,463
			Series - 2007 LD11 (Class A4)
	2,669,506	i	JP Morgan Mortgage Trust	4.300		04/25/35		2,658
			Series - 2005 A2 (Class 5A1)
	3,774,000		LB-UBS Commercial Mortgage Trust	4.740		02/15/30		4,028
			Series - 2005 C1 (Class A4)
	7,500,000	i	LB-UBS Commercial Mortgage Trust	5.150		04/15/30		8,106
			Series - 2005 C2 (Class A5)
	5,425,000		LB-UBS Commercial Mortgage Trust	5.430		02/15/40		5,571
			Series - 2007 C2 (Class A3)
	20,950,000		LB-UBS Commercial Mortgage Trust	5.460		02/15/40		18,524
			Series - 2007 C1 (Class AM)
	2,594,000	i	LB-UBS Commercial Mortgage Trust	5.860		07/15/40		2,776
			Series - 2007 C6 (Class A4)

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,109,435		MASTR Asset Securitization Trust	5.000	%	05/25/35	$	3,107
			Series - 2005 1 (Class 2A5)
	3,729,128	i	Merrill Lynch Mortgage Trust	5.110		07/12/38		3,675
			Series - 2005 CIP1 (Class AM)
	4,700,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	5.610		02/12/39		5,140
			Series - 2006 1 (Class A4)
	12,565,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	5.170		12/12/49		13,399
			Series - 2006 4 (Class A3)
	13,200,000	i	Morgan Stanley Capital I	5.450		02/12/44		14,156
			Series - 2007 HQ11 (Class A4)
	6,710,000		Morgan Stanley Capital I	5.360		03/15/44		7,123
			Series - 2007 IQ13 (Class A4)
	9,770,000	g,i	Morgan Stanley Capital I	5.420		09/15/47		8,261
			Series - 2011 C1 (Class C)
	6,760,000	g,i	Morgan Stanley Capital I	5.420		09/15/47		5,225
			Series - 2011 C1 (Class D)
	3,075,000	i	Morgan Stanley Capital I	5.540		11/12/49		2,975
			Series - 2007 T25 (Class AM)
	6,714,000	g,i	RBSCF Trust	4.830		04/15/24		6,047
			Series - 2010 MB1 (Class D)
	8,525,407		Residential Accredit Loans, Inc	6.000		06/25/36		5,111
			Series - 2006 QS7 (Class A3)
	15,480,433	i	Residential Accredit Loans, Inc	0.420		05/25/46		8,755
			Series - 2006 QO5 (Class 2A1)
	4,999,610	i	Residential Funding Mortgage Securities I, Inc	2.910		08/25/35		4,281
			Series - 2005 SA3 (Class 2A1)
	1,550,413	i	Structured Adjustable Rate Mortgage Loan Trust	0.610		03/25/35		1,459
			Series - 2005 6XS (Class A3)
	8,585,000	g	Vornado DP LLC	5.280		09/13/28		7,657
			Series - 2010 VNO (Class C)
	9,530,000		Wachovia Bank Commercial Mortgage Trust	5.380		12/15/43		7,621
			Series - 2007 C30 (Class AM)
	17,352,000	i	Wachovia Bank Commercial Mortgage Trust	6.170		06/15/45		16,443
			Series - 2006 C26 (Class AM)
	3,225,000	i	Wachovia Bank Commercial Mortgage Trust	5.820		05/15/46		2,758
			Series - 2007 C34 (Class AM)
	7,595,000		Wachovia Bank Commercial Mortgage Trust	5.500		04/15/47		7,859
			Series - 2007 C31 (Class A5)
	3,660,000		Wachovia Bank Commercial Mortgage Trust	5.340		11/15/48		3,334
			Series - 2006 C29 (Class AM)
	15,255,000	i	Wachovia Bank Commercial Mortgage Trust	5.370		11/15/48		9,396
			Series - 2006 C29 (Class AJ)
	6,125,000	i	Wachovia Bank Commercial Mortgage Trust	6.100		02/15/51		6,450
			Series - 2007 C33 (Class A4)
	6,565,000	i	Wachovia Bank Commercial Mortgage Trust	6.100		02/15/51		6,920
			Series - 2007 C33 (Class A5)
	2,426,720		Wells Fargo Mortgage Backed Securities Trust	5.500		04/25/35		2,448
			Series - 2005 2 (Class 1A1)
	854,889	i	Wells Fargo Mortgage Backed Securities Trust	5.390		03/25/36		851
			Series - 2006 AR1 (Class 2A2)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust	5.280		10/15/57		4,692
			Series - 2010 C1 (Class B)
			TOTAL OTHER MORTGAGE BACKED					434,572

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER		RATE		MATURITY DATE	VALUE (000)
		TOTAL STRUCTURED ASSETS					$	595,083
		(Cost $627,988)
		TOTAL BONDS						12,764,614
		(Cost $12,247,302)
SHARES		COMPANY
PREFERRED STOCKS - 0.0%
	BANKS - 0.0%
	470,597	Federal Home Loan Mortgage Corp		8.380	%	12/30/49		941
	1,527,061	Federal National Mortgage Association		8.250		12/30/49		2,902
		TOTAL BANKS						3,843
		TOTAL PREFERRED STOCKS						3,843
		(Cost $49,941)
PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 18.7%
GOVERNMENT AGENCY DEBT - 2.8%
		Federal Home Loan Bank (FHLB)
$	20,000,000	FHLB		0.001		10/03/11		20,000
	125,000,000	FHLB		0.100		10/14/11		124,998
	50,000,000	FHLB		0.014		10/19/11		49,999
	50,000,000	FHLB		0.064		11/28/11		49,990
	8,300,000	FHLB		0.025		12/30/11		8,300
	50,000,000	Federal Home Loan Mortgage Corp (FHLMC) FHLMC		0.070		11/02/11		49,998
	49,800,000	FHLMC		0.047		01/09/12		49,796
	15,500,000	Federal National Mortgage Association (FNMA) FNMA		0.068		11/03/11		15,497
		TOTAL GOVERNMENT AGENCY DEBT						368,578
TREASURY DEBT - 15.9%
	100,000,000	United States Treasury Bill		0.060		10/06/11		100,000
	200,000,000	United States Treasury Bill		0.030		10/13/11		199,999
	100,000,000	United States Treasury Bill		0.008		10/27/11		99,998
	50,000,000	United States Treasury Bill		0.065		11/10/11		49,996
	200,000,000	United States Treasury Bill		0.090		11/17/11		199,995
	200,000,000	United States Treasury Bill		0.050		11/25/11		199,987
	200,000,000	United States Treasury Bill		0.095		12/01/11		199,995
	112,000,000	United States Treasury Bill		0.301		12/15/11		111,997
	200,000,000	United States Treasury Bill		0.076		12/22/11		199,993
	100,000,000	United States Treasury Bill		0.017		01/05/12		99,996
	100,000,000	United States Treasury Bill		0.024		01/12/12		99,994
	100,000,000	United States Treasury Bill		0.032		02/09/12		99,988
	9,000,000	United States Treasury Bill		0.047		02/16/12		8,999
	50,000,000	United States Treasury Bill	0.031 - 0.036			03/01/12		49,991
	100,000,000	United States Treasury Bill		0.036		03/08/12		99,980
	35,000,000	United States Treasury Bill		0.027		05/03/12		34,986
	199,000,000	United States Treasury Bill	0.031 - 0.048			05/31/12		198,907
		TOTAL TREASURY DEBT						2,054,801

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	VALUE (000)
		TOTAL SHORT-TERM INVESTMENTS	$	2,423,379
		(Cost $2,423,367)
		TOTAL INVESTMENTS - 117.4%		15,208,555
		(Cost $14,737,572)
		OTHER ASSETS & LIABILITIES, NET - (17.4)%		(2,248,664	)
		NET ASSETS - 100.0%	$	12,959,891
	^	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, 2011, the value of these securities amounted to $1,039,107,000 or 8.0% 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.
	n	In default
		Cost amounts are in thousands.

347

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND
INFLATION-LINKED BOND ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2011

PRINCIPAL			ISSUER	VALUE (000)
GOVERNMENT BONDS - 99.1%
U.S. TREASURY SECURITIES - 99.1%
		k	United States Treasury Inflation Indexed Bonds
$	198,642,056		0.630%, 04/15/13	$	202,305
	343,310,314		1.880%, 07/15/13		359,349
	348,879,918		2.000%, 01/15/14		370,358
	236,235,537		1.250%, 04/15/14		247,512
	329,799,989		2.000%, 07/15/14		354,818
	299,245,685		1.630%, 01/15/15		322,016
	224,965,026		0.500%, 04/15/15		234,087
	282,931,656		1.880%, 07/15/15		310,761
	270,275,088		2.000%, 01/15/16		300,385
	256,077,198		0.130%, 04/15/16		264,580
	273,596,270		2.500%, 07/15/16		314,443
	230,557,196		2.380%, 01/15/17		265,123
	208,195,730		2.630%, 07/15/17		245,329
	230,825,099		1.630%, 01/15/18		258,254
	217,492,140		1.380%, 07/15/18		241,008
	215,183,080		2.130%, 01/15/19		250,621
	233,831,260		1.880%, 07/15/19		269,144
	257,312,073		1.380%, 01/15/20		286,441
	283,453,317		1.250%, 07/15/20		312,928
	392,895,606		1.130%, 01/15/21		428,839
	344,912,076		0.630%, 07/15/21		360,002
	377,243,008		2.380%, 01/15/25		465,983
	269,563,688		2.000%, 01/15/26		320,212
	220,353,175		2.380%, 01/15/27		275,528
	215,566,163		1.750%, 01/15/28		249,720
	296,152,280		3.630%, 04/15/28		425,950
	196,137,536		2.500%, 01/15/29		251,807
	291,187,714		3.880%, 04/15/29		438,124
	88,151,358		3.380%, 04/15/32		130,010
	164,780,510		2.130%, 02/15/40		209,078
	217,052,848		2.130%, 02/15/41		277,183
			United States Treasury Notes
	52,000,000		0.500%, 08/15/14		52,134
	21,000,000		1.000%, 08/31/16		21,053
	11,000,000		2.250%, 07/31/18		11,608
	4,000,000		2.130%, 08/15/21		4,071
			TOTAL U.S. TREASURY SECURITIES		9,330,764
			TOTAL GOVERNMENT BONDS
			(Cost $8,284,657)		9,330,764

348

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

PRINCIPAL		ISSUER	VALUE (000)
SHORT-TERM INVESTMENTS - 0.4%
GOVERNMENT AGENCY DEBT - 0.2%
$	10,000,000	Federal Home Loan Bank (FHLB) 0.030%, 11/16/11	$	10,000
	3,055,000	FHLB 0.200%, 10/21/11		3,055
	1,605,000	Federal Home Loan Mortgage Corp (FHLMC) 0.046%, 01/24/12		1,605
	5,900,000	FHLMC 0.034%, 12/12/11		5,899
				20,559
TREASURY DEBT - 0.2%
		United States Treasury Bill
	1,615,000	0.078% 12/22/11		1,615
		United States Treasury Bill
	1,930,000	0.100% 12/29/11		1,930
		United States Treasury Note
	15,000,000	0.880% 01/31/12		15,040
				18,585
		TOTAL SHORT-TERM INVESTMENTS		39,144
		(Cost $39,146)
		TOTAL INVESTMENTS - 99.5%		9,369,908
		(Cost $8,323,803)
		OTHER ASSETS AND LIABILITIES, NET - 0.5%		45,189
		NET ASSETS - 100.0%	$	9,415,097

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

349

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND
SOCIAL CHOICE ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2011

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
BONDS - 40.5%
CORPORATE BONDS - 11.1%
AUTOMOBILES & COMPONENTS - 0.0%
$	2,350,000		BorgWarner, Inc	4.630	%	09/15/20	$	2,528
	3,250,000		Johnson Controls, Inc	5.000		03/30/20		3,586
			TOTAL AUTOMOBILES & COMPONENTS					6,114
BANKS - 2.2%
	3,400,000		Bank of New York Mellon Corp	4.300		05/15/14		3,668
	5,000,000		Bank of New York Mellon Corp	3.100		01/15/15		5,190
	5,000,000		Bank of New York Mellon Corp	2.950		06/18/15		5,200
	5,000,000	e	Bank of New York Mellon Corp	2.300		07/28/16		5,037
	2,675,000		Bank of New York Mellon Corp	5.450		05/15/19		3,091
	4,750,000		Bank of New York Mellon Corp	3.550		09/23/21		4,735
	14,090,000	e,g	Bank of Nova Scotia	1.650		10/29/15		14,195
	9,800,000	g	Bank of Nova Scotia	2.150		08/03/16		9,968
	5,000,000		BB&T Corp	3.380		09/25/13		5,180
	5,000,000		BB&T Corp	3.850		07/27/27		5,113
	5,000,000		Capital One Bank USA NA	8.800		07/15/19		5,891
	3,500,000		Capital One Capital V	8.880		05/15/40		3,552
	4,750,000	i	Capital One Financial Corp	1.400		07/15/14		4,733
	6,500,000		Capital One Financial Corp	2.130		07/15/14		6,435
	7,250,000	e	Capital One Financial Corp	3.150		07/15/16		7,177
	6,900,000		Comerica, Inc	3.000		09/16/15		6,855
	8,800,000	g	Depfa ACS Bank	5.130		03/16/37		6,724
	2,375,000		Discover Bank	7.000		04/15/20		2,517
	8,750,000		First Horizon National Corp	5.380		12/15/15		8,856
	5,000,000		First Niagara Financial Group, Inc	6.750		03/19/20		5,624
	3,000,000		First Union National Bank of Florida	6.180		02/15/36		3,426
	10,400,000		Manufacturers & Traders Trust Co	6.630		12/04/17		12,088
	4,644,000	i	Manufacturers & Traders Trust Co	5.590		12/28/20		4,502
	6,076,000	i	Manufacturers & Traders Trust Co	5.630		12/01/21		5,879
	5,000,000		Mercantile Bankshares Corp	4.630		04/15/13		5,189
	1,250,000		Mercantile-Safe Deposit & Trust Co	5.700		11/15/11		1,256
	6,100,000		Northern Trust Corp	4.630		05/01/14		6,576
	2,250,000		Northern Trust Corp	3.380		08/23/21		2,278
	5,000,000		PNC Funding Corp	3.630		02/08/15		5,245
	4,750,000		PNC Funding Corp	2.700		09/19/16		4,750
	5,000,000		PNC Funding Corp	5.130		02/08/20		5,534
	4,650,000	e	SVB Financial Group	5.380		09/15/20		4,833
	11,000,000	e,g	Toronto-Dominion Bank	1.630		09/14/16		10,962
	4,900,000		US Bancorp	2.000		06/14/13		4,997
	3,000,000		US Bancorp	4.950		10/30/14		3,265

350

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,000,000	e	US Bancorp	2.880	%	11/20/14	$	5,183
	2,500,000		USB Capital XIII Trust	6.630		12/15/39		2,511
	5,000,000		Webster Bank	5.880		01/15/13		5,106
	4,000,000		Zions Bancorporation	7.750		09/23/14		4,217
			TOTAL BANKS					217,538
CAPITAL GOODS - 0.6%
	8,200,000		Caterpillar, Inc	1.380		05/27/14		8,255
	5,330,000		Caterpillar, Inc	5.200		05/27/41		6,229
	5,000,000		Danaher Corp	1.300		06/23/14		5,058
	5,000,000		Danaher Corp	2.300		06/23/16		5,122
	1,800,000		Deere & Co	5.380		10/16/29		2,243
	4,340,000		Deere & Co	8.100		05/15/30		6,547
	1,000,000	g	Illinois Tool Works, Inc	3.380		09/15/21		1,025
	2,500,000	g	Illinois Tool Works, Inc	4.880		09/15/41		2,783
	5,155,000		Pall Corp	5.000		06/15/20		5,788
	5,000,000		Pentair, Inc	5.000		05/15/21		5,222
	5,000,000		Timken Co	6.000		09/15/14		5,530
			TOTAL CAPITAL GOODS					53,802
COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	6,000,000		Fluor Corp	3.380		09/15/21		5,998
	5,000,000		Howard Hughes Medical Institute	3.450		09/01/14		5,318
	4,750,000		Waste Management, Inc	2.600		09/01/16		4,761
	2,730,000	e	Waste Management, Inc	4.600		03/01/21		2,929
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					19,006
CONSUMER DURABLES & APPAREL - 0.4%
	7,500,000	g	Harley-Davidson Financial Services, Inc	3.880		03/15/16		7,718
	3,150,000		Masco Corp	7.130		03/15/20		3,052
	2,500,000		Whirlpool Corp	8.000		05/01/12		2,596
	1,100,000		Whirlpool Corp	8.600		05/01/14		1,255
	5,000,000		Xerox Corp	8.250		05/15/14		5,692
	9,750,000	i	Xerox Corp	1.110		05/16/14		9,661
	2,500,000		Xerox Corp	4.250		02/15/15		2,644
	2,500,000		Xerox Corp	4.500		05/15/21		2,500
			TOTAL CONSUMER DURABLES & APPAREL					35,118
CONSUMER SERVICES - 0.3%
	2,000,000		American National Red Cross	5.390		11/15/12		2,022
	4,000,000		American National Red Cross	5.570		11/15/17		4,118
	5,000,000		Andrew W Mellon Foundation	3.950		08/01/14		5,379
	1,250,000		McDonald’s Corp	5.000		02/01/19		1,461
	7,550,000		Nature Conservancy	6.300		07/01/19		8,919
	5,145,000		Salvation Army	5.640		09/01/26		5,618
			TOTAL CONSUMER SERVICES					27,517
DIVERSIFIED FINANCIALS - 0.7%
	1,675,000		American Express Co	7.000		03/19/18		1,982
	3,325,000		American Express Co	8.130		05/20/19		4,197
	2,200,000		Ameriprise Financial, Inc	5.300		03/15/20		2,432

351

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,750,000	i	Berkshire Hathaway, Inc	0.990	%	08/15/14	$	4,756
	4,750,000		Berkshire Hathaway, Inc	2.200		08/15/16		4,781
	4,750,000		Berkshire Hathaway, Inc	3.750		08/15/21		4,817
	5,000,000		BlackRock, Inc	4.250		05/24/21		5,209
	1,000,000		Eaton Vance Corp	6.500		10/02/17		1,141
	5,900,000		Ford Motor Credit Co LLC	7.000		04/15/15		6,195
	4,950,000		Ford Motor Credit Co LLC	5.000		05/15/18		4,781
	3,500,000		Ford Motor Credit Co LLC	5.880		08/02/21		3,481
	4,155,000		John Deere Capital Corp	2.250		06/07/16		4,220
	6,250,000		MF Global Holdings Ltd	6.250		08/08/16		5,903
	7,000,000	e	NASDAQ OMX Group, Inc	2.500		08/15/13		7,158
	3,000,000		State Street Corp	4.300		05/30/14		3,237
			TOTAL DIVERSIFIED FINANCIALS					64,290
ENERGY - 0.8%
	5,000,000		Apache Corp	5.250		04/15/13		5,322
	5,500,000		Apache Corp	5.100		09/01/40		6,136
	1,750,000		Chesapeake Energy Corp	6.500		08/15/17		1,811
	1,500,000		Chesapeake Energy Corp	6.630		08/15/20		1,545
	2,630,000		Chesapeake Energy Corp	6.130		02/15/21		2,650
	2,500,000		Devon Energy Corp	6.300		01/15/19		3,031
	2,000,000		Devon Energy Corp	5.600		07/15/41		2,306
	5,000,000		Diamond Offshore Drilling, Inc	4.880		07/01/15		5,444
	5,000,000		EOG Resources, Inc	2.950		06/01/15		5,248
	3,000,000		EOG Resources, Inc	4.100		02/01/21		3,209
	5,000,000		EQT Corp	8.130		06/01/19		6,062
	2,500,000		Hess Corp	8.130		02/15/19		3,222
	4,000,000		Hess Corp	6.000		01/15/40		4,562
	2,000,000		Hess Corp	5.600		02/15/41		2,158
	1,526,000		Marathon Oil Corp	5.900		03/15/18		1,778
	1,870,000	g	Marathon Petroleum Corp	3.500		03/01/16		1,928
	2,500,000		Noble Energy, Inc	8.250		03/01/19		3,282
	5,000,000		SEACOR Holdings, Inc	7.380		10/01/19		5,406
	5,000,000		Spectra Energy Capital LLC	5.650		03/01/20		5,569
	2,500,000		Tennessee Gas Pipeline Co	8.000		02/01/16		2,904
	5,000,000	g	Texas Eastern Transmission LP	4.130		12/01/20		5,352
	1,325,000		Weatherford Bermuda Holdings Ltd	5.130		09/15/20		1,348
			TOTAL ENERGY					80,273
FOOD & STAPLES RETAILING - 0.1%
	4,100,000		Safeway, Inc	3.950		08/15/20		4,131
	2,500,000		Sysco Corp	6.630		03/17/39		3,654
			TOTAL FOOD & STAPLES RETAILING					7,785
FOOD, BEVERAGE & TOBACCO - 0.6%
	5,900,000		Coca-Cola Enterprises, Inc	1.130		11/12/13		5,890
	4,750,000		Coca-Cola Enterprises, Inc	2.000		08/19/16		4,739
	4,250,000	e	Coca-Cola Enterprises, Inc	3.250		08/19/21		4,272
	1,100,000		General Mills, Inc	5.650		02/15/19		1,303
	7,650,000	e	HJ Heinz Co	2.000		09/12/16		7,672
	1,600,000	g	HJ Heinz Finance Co	7.130		08/01/39		2,230
	2,500,000		Kellogg Co	4.150		11/15/19		2,761

352

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,900,000		Kellogg Co	4.000	%	12/15/20	$	5,251
	5,000,000		Kraft Foods, Inc	2.630		05/08/13		5,104
	5,000,000		Kraft Foods, Inc	6.500		02/09/40		6,112
	2,500,000	e	PepsiCo, Inc	0.880		10/25/13		2,502
	5,000,000		PepsiCo, Inc	2.500		05/10/16		5,177
	428,000		PepsiCo, Inc	7.900		11/01/18		569
			TOTAL FOOD, BEVERAGE & TOBACCO					53,582
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	4,000,000		Becton Dickinson & Co	5.000		05/15/19		4,621
	2,000,000		Becton Dickinson & Co	6.000		05/15/39		2,566
	3,500,000		Medtronic, Inc	4.750		09/15/15		3,931
	2,650,000		Medtronic, Inc	4.450		03/15/20		3,001
	2,500,000		Medtronic, Inc	6.500		03/15/39		3,421
	5,000,000		Providence Health & Services	5.050		10/01/14		5,483
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					23,023
INSURANCE - 0.5%
	2,500,000		Aflac, Inc	6.900		12/17/39		2,566
	3,500,000		Cincinnati Financial Corp	6.130		11/01/34		3,666
	3,400,000		Genworth Financial, Inc	7.200		02/15/21		2,889
	4,150,000		Lincoln National Corp	4.300		06/15/15		4,367
	2,000,000		Markel Corp	6.800		02/15/13		2,089
	2,500,000		Markel Corp	7.130		09/30/19		2,833
	7,500,000		Markel Corp	5.350		06/01/21		7,654
	5,300,000		Markel Corp	7.350		08/15/34		6,075
	2,500,000	g	Principal Life Global Funding I	5.130		10/15/13		2,665
	3,000,000		Progressive Corp	6.380		01/15/12		3,037
	3,100,000		Progressive Corp	3.750		08/23/21		3,162
	5,000,000		Protective Life Corp	7.380		10/15/19		5,457
	2,000,000		Travelers Cos, Inc	5.900		06/02/19		2,330
			TOTAL INSURANCE					48,790
MATERIALS - 0.5%
	2,500,000		3M Co	6.380		02/15/28		3,341
	3,335,000		Air Products & Chemicals, Inc	4.380		08/21/19		3,672
	2,800,000		Airgas, Inc	4.500		09/15/14		2,985
	3,650,000		Alcoa, Inc	5.400		04/15/21		3,537
	1,000,000		Ball Corp	6.750		09/15/20		1,035
	1,144,000		Bemis Co, Inc	4.880		04/01/12		1,161
	4,000,000		Bemis Co, Inc	6.800		08/01/19		4,711
	1,750,000		Bemis Co, Inc	4.500		10/15/21		1,771
	5,000,000		Cliffs Natural Resources, Inc	6.250		10/01/40		4,870
	2,300,000		Eastman Chemical Co	5.500		11/15/19		2,583
	2,650,000		International Paper Co	7.300		11/15/39		2,978
	5,000,000		MeadWestvaco Corp	7.380		09/01/19		5,694
	5,000,000		Praxair, Inc	4.380		03/31/14		5,401
	2,500,000		Praxair, Inc	5.250		11/15/14		2,808
	5,000,000		Praxair, Inc	4.500		08/15/19		5,511
			TOTAL MATERIALS					52,058

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
MEDIA - 0.4%
$	3,500,000		Time Warner Cable, Inc	3.500	%	02/01/15	$	3,639
	3,200,000		Time Warner Cable, Inc	8.750		02/14/19		4,095
	3,900,000		Time Warner Cable, Inc	8.250		04/01/19		4,884
	5,000,000		Time Warner Cable, Inc	4.130		02/15/21		4,979
	5,000,000		Time Warner Cable, Inc	4.000		09/01/21		4,890
	3,500,000		Time Warner Cable, Inc	6.550		05/01/37		3,893
	5,000,000		Time Warner Cable, Inc	5.500		09/01/41		4,942
	5,234,000		Time Warner Entertainment Co LP	10.150		05/01/12		5,500
			TOTAL MEDIA					36,822
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.4%
	3,100,000		Abbott Laboratories	2.700		05/27/15		3,254
	4,900,000		Gilead Sciences, Inc	4.500		04/01/21		5,281
	10,000,000	i	Johnson & Johnson	0.380		05/15/14		10,012
	4,600,000	e	Johnson & Johnson	2.150		05/15/16		4,748
	4,600,000		Johnson & Johnson	4.500		09/01/40		5,119
	8,080,000		Life Technologies Corp	3.500		01/15/16		8,225
	5,000,000		Merck & Co, Inc	2.250		01/15/16		5,176
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					41,815
REAL ESTATE - 0.4%
	1,000,000		AMB Property LP	7.630		08/15/14		1,089
	1,400,000		Federal Realty Investment Trust	5.900		04/01/20		1,520
	5,325,000		HCP, Inc	3.750		02/01/16		5,262
	3,665,000		Health Care REIT, Inc	3.630		03/15/16		3,573
	3,400,000		Healthcare Realty Trust, Inc	5.750		01/15/21		3,326
	2,500,000		Kilroy Realty Corp	5.000		11/03/15		2,595
	3,400,000		Kilroy Realty LP	4.800		07/15/18		3,280
	5,750,000		Washington Real Estate Investment Trust	5.130		03/15/13		5,863
	7,500,000		Washington Real Estate Investment Trust	4.950		10/01/20		7,959
			TOTAL REAL ESTATE					34,467
RETAILING - 0.2%
	5,000,000		AutoZone, Inc	5.750		01/15/15		5,500
	3,050,000		Macy’s Retail Holdings, Inc	5.900		12/01/16		3,347
	5,095,000		O’Reilly Automotive, Inc	4.630		09/15/21		5,146
	500,000		Staples, Inc	9.750		01/15/14		580
	4,350,000		Target Corp	1.130		07/18/14		4,384
			TOTAL RETAILING					18,957
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.1%
	4,750,000		Intel Corp	1.950		10/01/16		4,784
	7,500,000		Texas Instruments, Inc	2.380		05/16/16		7,691
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					12,475
SOFTWARE & SERVICES - 0.2%
	5,000,000		Adobe Systems, Inc	3.250		02/01/15		5,250
	5,000,000		International Business Machines Corp	1.000		08/05/13		5,036
	8,055,000		International Business Machines Corp	1.950		07/22/16		8,126
	3,550,000		Symantec Corp	2.750		09/15/15		3,597
			TOTAL SOFTWARE & SERVICES					22,009

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
$	666,000		Cisco Systems, Inc	2.900	%	11/17/14	$	702
	1,955,000		Hewlett-Packard Co	4.500		03/01/13		2,039
	4,750,000	e,i	Hewlett-Packard Co	1.900		09/19/14		4,768
	3,750,000		Hewlett-Packard Co	2.650		06/01/16		3,745
	4,750,000		Hewlett-Packard Co	3.000		09/15/16		4,790
	2,030,000		Hewlett-Packard Co	3.750		12/01/20		1,972
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					18,016
TELECOMMUNICATION SERVICES - 0.0%
	1,265,000		Sprint Capital Corp	8.380		03/15/12		1,278
	3,235,000		Sprint Nextel Corp	6.000		12/01/16		2,782
			TOTAL TELECOMMUNICATION SERVICES					4,060
TRANSPORTATION - 0.6%
	3,100,000		Burlington Northern Santa Fe LLC	3.450		09/15/21		3,157
	4,600,000		Burlington Northern Santa Fe LLC	5.050		03/01/41		4,932
	2,100,000		Burlington Northern Santa Fe LLC	4.950		09/15/41		2,228
	1,440,000		CSX Corp	6.150		05/01/37		1,771
	5,000,000	e	Delta Air Lines, Inc	6.420		07/02/12		5,038
	2,500,000		FedEx Corp	7.380		01/15/14		2,830
	2,500,000		Norfolk Southern Corp	5.750		01/15/16		2,869
	5,000,000	e	Norfolk Southern Corp	5.900		06/15/19		6,017
	2,500,000		Norfolk Southern Corp	5.590		05/17/25		2,878
	4,815,000		Norfolk Southern Corp	5.640		05/17/29		5,692
	10,000,000	g	Southwest Airlines Co	10.500		12/15/11		10,166
			United Parcel Service of America, Inc (Step Bond 8.375%
	1,360,000		until 04/01/20, 7.620% until 04/01/30)	8.375		04/01/30		2,038
	5,000,000		United Parcel Service, Inc	3.130		01/15/21		5,220
			TOTAL TRANSPORTATION					54,836
UTILITIES - 1.5%
	7,550,000		American Water Capital Corp	6.090		10/15/17		8,849
	1,667,000		Arizona Public Service Co	5.050		09/01/41		1,817
	2,000,000		Atmos Energy Corp	8.500		03/15/19		2,701
	5,000,000		CenterPoint Energy Houston Electric LLC	7.000		03/01/14		5,632
	2,000,000		CenterPoint Energy Resources Corp	5.850		01/15/41		2,178
	2,000,000		Connecticut Light & Power	5.750		03/01/37		2,428
	1,200,000		Connecticut Light & Power Co	5.500		02/01/19		1,415
	8,000,000		Detroit Edison Co	3.900		06/01/21		8,511
	5,000,000	i	DTE Energy Co	1.030		06/03/13		4,991
	2,738,456	g	Great River Energy	5.830		07/01/17		3,055
	850,000		Idaho Power Co	4.750		11/15/12		883
	5,000,000		Idaho Power Co	5.500		04/01/33		5,721
	2,500,000		Idaho Power Co	6.250		10/15/37		3,181
	7,500,000	g	International Transmission Co	4.450		07/15/13		7,792
	4,000,000		Kentucky Utilities Co	3.250		11/01/20		4,134
	2,000,000		Laclede Gas Co	6.150		06/01/36		2,471
	6,000,000		Nevada Power Co	6.650		04/01/36		7,957
	1,000,000		Nevada Power Co	5.380		09/15/40		1,159
	3,335,000		Nevada Power Co	5.450		05/15/41		3,911

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,000,000		Nicor, Inc	6.580	%	02/15/28	$	2,456
	5,000,000		Northeast Utilities	5.650		06/01/13		5,338
	1,500,000		Northwest Natural Gas Co	5.620		11/21/23		1,816
	1,600,000		NSTAR Electric Co	5.500		03/15/40		1,959
	5,000,000		Pacific Gas & Electric Co	8.250		10/15/18		6,660
	4,650,000		Pacific Gas & Electric Co	3.250		09/15/21		4,600
	4,750,000		Pacific Gas & Electric Co	5.800		03/01/37		5,520
	3,750,000		Pacific Gas & Electric Co	5.400		01/15/40		4,190
	3,000,000		Pepco Holdings, Inc	2.700		10/01/15		3,040
	3,850,000		Portland General Electric Co	6.100		04/15/19		4,728
	1,750,000		PPL Electric Utilities Corp	3.000		09/15/21		1,746
	2,500,000		PPL Electric Utilities Corp	6.250		05/15/39		3,333
	5,250,000		PPL Electric Utilities Corp	5.200		07/15/41		6,187
	630,000		Public Service Co of Colorado	4.750		08/15/41		700
	5,500,000		San Diego Gas & Electric Co	3.000		08/15/21		5,557
	620,000		San Diego Gas & Electric Co	6.000		06/01/39		820
	1,380,000		San Diego Gas & Electric Co	5.350		05/15/40		1,696
	5,000,000		Washington Gas Light Co	5.440		08/11/25		5,831
	1,000,000		Wisconsin Power & Light Co	5.000		07/15/19		1,154
			TOTAL UTILITIES					146,117
			TOTAL CORPORATE BONDS					1,078,470
			(Cost $1,010,531)
GOVERNMENT BONDS 27.2%
AGENCY SECURITIES - 4.3%
			Federal Home Loan Bank (FHLB)
	5,500,000		FHLB	5.000		11/17/17		6,622
			Federal Home Loan Mortgage Corp (FHLMC)
	4,635,000		FHLMC	2.500		04/23/14		4,866
	3,000,000		FHLMC	3.500		05/29/13		3,155
	25,000,000		FHLMC	0.750		03/28/13		25,145
			Federal National Mortgage Association (FNMA)
	3,000,000		FNMA	2.500		05/15/14		3,146
	10,000,000		FNMA	2.630		11/20/14		10,599
	2,000,000		FNMA	1.130		07/30/12		2,014
	6,000,000		FNMA	1.250		08/20/13		6,086
	22,170,175		AMAL Ltd	3.470		08/21/21		23,366
	7,524,717		Cal Dive I- Title XI, Inc	4.930		02/01/27		8,671
	8,822,461		COP I LLC	3.610		12/05/21		9,751
	6,572,229		COP I LLC	3.650		12/05/21		7,008
	8,677,580		Gate Capital Cayman Two	3.550		06/11/21		9,188
	4,000,000	j	Government Trust Certificate	0.000		04/01/21		3,026
	5,000,000	g	Montefiore Medical Center	3.900		05/20/27		5,341
	1,651,450		National Credit Union Administration	1.840		10/07/20		1,672
	14,500,000	m	NCUA Guaranteed Notes	3.450		06/12/21		15,802
	4,500,000		New York Community Bank	3.000		12/16/11		4,527
	165,217		Overseas Private Investment Corp	5.410		12/15/11		166
	3,850,000	j	Overseas Private Investment Corp	0.000		07/12/14		4,020

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,700,000	j	Overseas Private Investment Corp	0.000	%	07/12/14	$	5,279
	4,500,000	j	Overseas Private Investment Corp	0.000		12/14/14		4,654
	3,000,000	j	Overseas Private Investment Corp	0.000		12/14/14		3,467
	3,584,322		Overseas Private Investment Corp	3.740		04/15/15		3,747
	12,750,000	j	Overseas Private Investment Corp	0.000		11/17/16		12,869
	3,000,000	m	Overseas Private Investment Corp	1.900		04/30/18		2,961
	2,750,000	m	Overseas Private Investment Corp	1.300		06/15/19		2,734
	4,057,813		Overseas Private Investment Corp	5.140		12/15/23		4,757
	7,100,000	m	Overseas Private Investment Corp	2.290		09/15/26		7,100
	8,905,271		Overseas Private Investment Corp	4.440		02/27/27		10,243
	7,850,000		Overseas Private Investment Corp	3.040		05/15/30		7,911
	5,000,000		Overseas Private Investment Corp	3.430		05/15/30		5,229
	4,750,000	m	Overseas Private Investment Corp	4.010		05/15/30		5,237
	9,236,848		Premier Aircraft Leasing	3.580		02/06/22		9,806
	1,050,000		Private Export Funding Corp	4.550		05/15/15		1,180
	9,750,000		Private Export Funding Corp	2.130		07/15/16		10,063
	8,000,000		Private Export Funding Corp	2.250		12/15/17		8,275
	10,000,000		Private Export Funding Corp	4.380		03/15/19		11,588
	17,500,000		Private Export Funding Corp	4.300		12/15/21		20,053
	2,045,372		Rowan Cos, Inc	3.530		05/01/20		2,147
	5,299,056		Rowan Cos, Inc	3.160		07/15/21		5,500
	8,968,456		San Clemente Leasing LLC	3.590		08/27/21		9,508
	8,050,000		State Street Corp	2.150		04/30/12		8,140
	4,482,619		Tayarra Ltd	3.630		02/15/22		4,772
	4,399,099		Tricahue Leasing LLC	3.500		11/19/21		4,609
			United States Department of Housing and Urban
	5,250,000		Development	4.330		08/01/15		5,902
			United States Department of Housing and Urban
	3,894,000		Development	2.910		08/01/17		4,191
	10,000,000		US Central Federal Credit Union	1.900		10/19/12		10,174
	9,000,000		US Department of Housing and Urban Development	5.190		08/01/14		10,139
	1,900,000		US Department of Housing and Urban Development	2.200		08/01/15		1,989
	8,000,000		US Department of Housing and Urban Development	4.560		08/01/17		9,344
	5,007,000		US Department of Housing and Urban Development	5.380		08/01/18		5,912
	13,967,000		US Department of Housing and Urban Development	4.960		08/01/20		16,585
	13,500,000	e	US Department of Housing and Urban Development	5.050		08/01/21		15,994
	5,797,422	g	US Trade Funding Corp	4.260		11/15/14		6,005
	5,000,000		Wells Fargo & Co	2.130		06/15/12		5,062
	5,000,000		Western Corporate Federal Credit Union	1.750		11/02/12		5,076
			TOTAL AGENCY SECURITIES					422,373
FOREIGN GOVERNMENT BONDS - 2.6%
	5,000,000	g	Bank of Montreal	2.630		01/25/16		5,221
	4,000,000	g	Caisse Centrale Desjardins du Quebec	2.550		03/24/16		4,152
	3,900,000		Canada Government International Bond	2.380		09/10/14		4,105
	7,000,000	e,g	Canadian Imperial Bank of Commerce	2.750		01/27/16		7,332
	24,750,000	e	Council of Europe Development Bank	1.500		01/15/15		25,216
	8,500,000		Council of Europe Development Bank	2.750		02/10/15		9,004
	2,750,000		Eksportfinans ASA	5.000		02/14/12		2,793
	2,000,000		European Investment Bank	4.880		02/15/36		2,340
	14,500,000		Hydro Quebec	2.000		06/30/16		14,798
	6,082,000		Hydro Quebec	8.400		01/15/22		8,905

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	11,625,000	i	India Government AID Bond	0.350	%	02/01/27	$	10,640
	5,000,000	g	International Finance Facility for Immunisation	5.000		11/14/11		5,023
	2,850,000	e	Italy Government International Bond	5.380		06/12/17		2,806
	3,145,000	e,g	National Bank of Canada	1.650		01/30/14		3,195
	4,000,000		Province of British Columbia Canada	2.850		06/15/15		4,265
	12,000,000	e	Province of British Columbia Canada	2.100		05/18/16		12,468
	5,000,000		Province of Manitoba Canada	5.000		02/15/12		5,081
	2,000,000		Province of Manitoba Canada	2.130		04/22/13		2,050
	10,000,000		Province of Manitoba Canada	1.380		04/28/14		10,192
	10,000,000		Province of New Brunswick Canada	2.750		06/15/18		10,457
	5,000,000		Province of Nova Scotia Canada	2.380		07/21/15		5,208
	8,700,000		Province of Ontario Canada	4.100		06/16/14		9,414
	8,100,000		Province of Ontario Canada	2.950		02/05/15		8,562
	9,450,000		Province of Ontario Canada	2.700		06/16/15		9,930
	15,000,000	e	Province of Ontario Canada	2.300		05/10/16		15,539
	10,000,000		Province of Ontario Canada	1.600		09/21/16		9,977
	6,000,000		Province of Ontario Canada	4.000		10/07/19		6,695
	5,000,000		Province of Ontario Canada	4.400		04/14/20		5,693
	10,000,000	e	Province of Quebec Canada	3.500		07/29/20		10,682
	10,000,000		Province of Quebec Canada	2.750		08/25/21		9,907
	5,000,000		Province of Quebec Canada	7.500		09/15/29		7,648
			TOTAL FOREIGN GOVERNMENT BONDS					249,298
MORTGAGE BACKED - 12.4%
			Federal Home Loan Mortgage Corp (FHLMC)
	4,000,580	i	FHLMC	5.930		04/01/37		4,345
	4,902,697	i	FHLMC	4.700		03/01/37		5,160
	2,643,792	i	FHLMC	5.630		08/01/37		2,821
	7,280,476		FHLMC	5.500		08/01/39		8,035
	4,173,027	i	FHLMC	5.180		09/01/37		4,436
	3,405,119	i	FHLMC	5.740		02/01/37		3,687
	2,318,639	i	FHLMC	2.500		02/01/36		2,437
	8,374,232		FHLMC (interest only)	4.000		06/15/34		991
	3,520,550	i	FHLMC	2.570		07/01/36		3,729
	1,324,197	i	FHLMC	2.740		09/01/36		1,390
	4,734,685	i	FHLMC	2.420		09/01/36		5,028
			Federal Home Loan Mortgage Corp Gold (FGLMC)
	1,126,089		FGLMC	4.500		09/01/35		1,198
	1,265,126		FGLMC	6.000		08/01/35		1,396
	1,270,068		FGLMC	5.500		06/01/35		1,383
	801,594		FGLMC	5.000		02/01/36		864
	582,935		FGLMC	4.500		12/01/35		620
	1,178,808		FGLMC	5.000		10/01/35		1,270
	2,979,241		FGLMC	7.000		05/01/35		3,440
	904,056		FGLMC	6.000		05/01/35		1,005
	1,555,134		FGLMC	6.000		05/01/35		1,728
	739,404		FGLMC	6.000		05/01/35		822
	450,570		FGLMC	6.000		05/01/35		498
	440,588		FGLMC	6.000		05/01/35		490
	1,470,242		FGLMC	6.000		05/01/35		1,634
	165,737		FGLMC	6.500		05/01/36		185
	43,000,000	h	FGLMC	5.000		10/15/40		46,104

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	8,228,502		FGLMC	6.000	%	07/01/39	$	9,189
	2,693,718		FGLMC	5.000		07/01/39		2,893
	40,000,000	h	FGLMC	4.500		10/15/41		42,306
	6,589,499		FGLMC	4.500		12/01/40		7,078
	5,921,339		FGLMC	4.500		11/01/40		6,379
	5,150,116		FGLMC	4.000		06/01/39		5,401
	1,366,924		FGLMC	6.500		11/01/37		1,520
	1,667,253		FGLMC	6.000		09/01/37		1,853
	1,174,515		FGLMC	6.500		10/01/36		1,311
	1,515,034		FGLMC	4.500		05/01/39		1,605
	1,077,912		FGLMC	6.000		11/01/38		1,183
	3,657,573		FGLMC	6.000		02/01/38		4,085
	245,173		FGLMC	4.500		07/01/20		265
	879,845		FGLMC	4.500		01/01/20		941
	1,459,928		FGLMC	5.000		02/01/19		1,589
	1,856,828		FGLMC	4.500		06/01/21		1,986
	6,595,970		FGLMC	4.500		06/01/21		7,054
	194,061		FGLMC	7.000		10/01/20		224
	1,562,567		FGLMC	5.500		01/01/19		1,711
	2,432,982		FGLMC	4.500		10/01/18		2,600
	321,778		FGLMC	6.000		12/01/17		347
	187,480		FGLMC	6.500		12/01/16		204
	4,168,822		FGLMC	4.500		01/01/19		4,522
	3,390,327		FGLMC	4.500		11/01/18		3,623
	2,929,782		FGLMC	4.500		11/01/18		3,131
	1,557,775		FGLMC	4.500		03/01/23		1,656
	5,679,419		FGLMC	5.500		12/01/33		6,186
	3,327,707		FGLMC	5.500		09/01/33		3,626
	3,336,641		FGLMC	5.500		09/01/33		3,636
	826,657		FGLMC	5.500		12/01/34		907
	1,483,400		FGLMC	6.000		09/01/34		1,643
	7,474,940		FGLMC	7.000		12/01/33		8,630
	2,130,920		FGLMC	4.500		07/01/33		2,270
	3,268,936		FGLMC	4.000		07/01/24		3,443
	17,216		FGLMC	7.000		05/01/23		20
	839,892		FGLMC	5.000		04/01/23		902
	61,045		FGLMC	8.000		01/01/31		72
	5,000,000	h	FGLMC	5.000		10/15/25		5,367
	1,125,490		FGLMC	4.500		09/01/24		1,196
			Federal National Mortgage Association (FNMA)
	3,288,496		FNMA	5.000		08/01/35		3,550
	1,683,583		FNMA	4.500		08/01/35		1,795
	7,720,667		FNMA	5.500		10/01/35		8,543
	8,183,023		FNMA	4.000		10/01/35		8,656
	1,254,978		FNMA	5.500		06/01/35		1,389
	1,793,631		FNMA	5.500		06/01/35		1,985
	560,815		FNMA	6.000		07/01/35		619
	57,254		FNMA	7.500		06/01/35		67
	1,059,676	i	FNMA	2.400		02/01/36		1,115
	1,666,590		FNMA	6.000		12/01/36		1,835
	1,631,619		FNMA	6.500		09/01/36		1,820
	734,150		FNMA	7.000		02/01/37		843

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	11,135,132	i	FNMA	5.840	%	01/01/37	$	12,023
	914,230		FNMA	6.500		02/01/36		1,020
	410,489		FNMA	6.500		02/01/36		458
	985,968	i	FNMA	2.390		07/01/36		1,029
	2,906,587		FNMA	6.000		03/01/36		3,201
	2,580,573		FNMA	5.500		06/01/35		2,855
	449,508		FNMA	6.000		12/01/34		500
	46,167		FNMA	4.500		09/01/34		49
	1,913,634		FNMA	5.500		01/01/35		2,107
	6,847,320		FNMA	5.500		01/01/35		7,576
	38,051		FNMA	4.500		07/01/34		41
	114,064		FNMA	4.500		07/01/34		122
	1,232,115		FNMA	4.500		08/01/34		1,315
	46,177		FNMA	4.500		08/01/34		49
	435,006		FNMA	5.500		03/01/35		481
	342,099		FNMA	5.500		05/01/35		379
	681,836		FNMA	5.500		05/01/35		754
	2,309,937		FNMA	6.000		05/01/35		2,578
	271,650		FNMA	5.500		05/01/35		301
	1,437,957		FNMA	5.500		04/01/35		1,588
	1,126,897		FNMA	5.500		04/01/35		1,247
	2,582,246		FNMA	5.500		05/01/35		2,857
	1,533,727		FNMA	5.500		04/01/35		1,694
	2,895,520		FNMA	6.500		03/01/37		3,229
	2,032,685		FNMA	6.000		01/01/39		2,233
	1,770,349		FNMA	5.500		01/01/39		1,924
	3,205,631		FNMA	4.500		02/01/39		3,407
	1,608,016		FNMA	6.000		01/01/39		1,766
	54,000,000	h	FNMA	5.000		10/25/38		58,084
	2,167,069	i	FNMA	4.930		10/01/38		2,323
	3,040,422		FNMA	4.500		01/01/39		3,232
	55,000,000	h	FNMA	6.000		10/25/38		60,328
	3,548,785		FNMA	4.000		04/01/39		3,743
	10,500,000		FNMA	4.000		02/25/40		11,200
	58,000,000	h	FNMA	5.500		10/25/39		62,939
	9,625,763		FNMA	4.000		11/01/40		10,102
	10,000,000	h	FNMA	3.500		10/25/40		10,273
	4,007,611		FNMA	4.500		08/01/39		4,257
	5,892,067		FNMA	4.500		04/01/39		6,259
	97,000,000	h	FNMA	4.500		10/25/39		102,896
	80,000,000	h	FNMA	4.000		10/25/39		83,850
	289,658		FNMA	6.500		03/01/38		321
	1,427,569		FNMA	6.000		09/01/37		1,603
	2,534,661		FNMA	6.000		09/01/37		2,847
	1,238,354		FNMA	6.500		09/01/37		1,373
	1,915,340		FNMA	6.000		09/01/37		2,151
	649,555		FNMA	6.500		08/01/37		722
	819,837		FNMA	7.000		04/01/37		942
	2,223,797		FNMA	6.000		09/01/37		2,498
	1,037,406		FNMA	6.500		08/01/37		1,159
	552,162		FNMA	6.500		09/01/37		614
	56,897		FNMA	6.500		02/01/38		63

360

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	141,110		FNMA	6.500	%	01/01/38	$	156
	98,494		FNMA	6.500		03/01/38		109
	805,463		FNMA	6.500		03/01/38		892
	338,001		FNMA	6.500		09/01/37		375
	537,845		FNMA	6.500		09/01/37		596
	1,054,246		FNMA	7.000		11/01/37		1,211
	921,338	i	FNMA	5.870		10/01/37		981
	149,252		FNMA	4.500		07/01/34		159
	806,410		FNMA	4.500		06/01/19		864
	402,515		FNMA	4.500		05/01/19		431
	386,142		FNMA	4.500		11/01/20		414
	889,465		FNMA	5.000		03/01/20		962
	259,317		FNMA	6.000		02/01/19		285
	245,997		FNMA	6.000		01/01/19		270
	91,851		FNMA	4.500		03/01/19		98
	600,000		FNMA	4.000		02/25/19		637
	1,037,114		FNMA	5.000		12/01/20		1,121
	140,126		FNMA	5.000		01/01/24		153
	3,232,687		FNMA	5.000		07/01/23		3,477
	3,502,657		FNMA	4.000		05/01/24		3,697
	432,154		FNMA	5.500		02/01/24		474
	2,818,411		FNMA	5.500		08/01/21		3,058
	1,351,421		FNMA	5.000		03/01/21		1,462
	27,140		FNMA	8.000		03/01/23		32
	1,472,359		FNMA	4.500		03/01/23		1,570
	2,112,620		FNMA	5.000		01/01/19		2,302
	1,564,421		FNMA	4.560		05/01/14		1,667
	3,551,470		FNMA	4.020		08/01/13		3,699
	2,908,086		FNMA	4.530		10/01/14		3,113
	4,011,371		FNMA	4.270		06/01/14		4,254
	7,772		FNMA	7.000		04/01/12		8
	6		FNMA	7.500		10/01/11		0	^
	2,602,187		FNMA	4.440		07/01/13		2,709
	22,396		FNMA	5.000		06/01/13		23
	4,426		FNMA	8.500		11/01/14		5
	35,330		FNMA	5.500		05/01/18		38
	225,707		FNMA	5.500		04/01/18		244
	2,196,805		FNMA	5.000		12/01/18		2,377
	3,762,294		FNMA	5.500		11/01/18		4,092
	579,580		FNMA	6.500		04/01/17		637
	121,643		FNMA	6.500		10/01/16		134
	257,055		FNMA	6.500		02/01/18		282
	1,323,797		FNMA	5.000		12/01/17		1,432
	72,751		FNMA	8.000		07/01/24		85
	361,488		FNMA	5.000		03/01/34		391
	92,151		FNMA	7.000		01/01/34		106
	315,793		FNMA	5.000		03/01/34		341
	821,971		FNMA	5.000		03/01/34		888
	1,664,950		FNMA	5.500		11/01/33		1,820
	1,936,729		FNMA	5.500		11/01/33		2,117
	672,297		FNMA	5.500		12/01/33		735
	280,188		FNMA	5.500		12/01/33		306

361

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	273,399		FNMA	5.000	%	03/01/34	$	295
	44,415		FNMA	4.500		06/01/34		47
	35,133		FNMA	4.500		06/01/34		37
	180,131		FNMA	4.500		06/01/34		192
	38,228		FNMA	4.500		06/01/34		41
	660,779		FNMA	4.500		05/01/34		705
	2,480,077		FNMA	5.000		04/01/34		2,680
	43,499		FNMA	4.500		05/01/34		46
	41,527		FNMA	4.500		05/01/34		44
	1,626,920		FNMA	5.500		11/01/33		1,778
	1,329,176		FNMA	6.500		07/01/32		1,496
	24,000,000	h	FNMA	3.000		10/25/26		24,724
	3,071,102		FNMA	4.500		03/25/33		3,287
	204,900		FNMA	5.000		02/01/33		221
	7,675,698		FNMA	4.000		09/01/24		8,101
	2,035,256		FNMA	4.500		08/01/24		2,167
	8,000,000	h	FNMA	4.500		10/25/25		8,511
	42,000,000	h	FNMA	4.000		10/25/25		44,258
	735,990		FNMA	5.500		07/01/33		804
	1,250,953		FNMA	5.000		11/01/33		1,352
	865,661		FNMA	5.000		10/01/33		936
	1,566,020		FNMA	5.500		11/01/33		1,712
	1,189,499		FNMA	5.500		11/01/33		1,300
	903,507		FNMA	5.000		08/01/33		976
	1,304,810		FNMA	4.500		08/01/33		1,394
	984,673		FNMA	5.000		10/01/33		1,064
	278,775		FNMA	4.500		09/01/33		298
			Government National Mortgage Association (GNMA)
	4,331,386		GNMA	4.500		07/20/39		4,705
	1,454,936		GNMA	5.000		07/20/39		1,601
	1,738,809		GNMA	4.000		08/15/39		1,863
	778,682		GNMA	4.500		05/15/39		849
	22,000,000	h	GNMA	5.500		10/15/38		24,303
	1,847,829		GNMA	6.500		11/20/38		2,093
	3,712,385		GNMA	4.500		03/15/39		4,048
	29,000,000	h	GNMA	4.000		10/15/41		31,012
	38,000,000	h	GNMA	4.500		10/20/41		41,188
	4,875,631		GNMA	6.230		09/15/43		5,144
	20,000,000	h	GNMA	5.000		10/20/40		21,966
	55,000,000	h	GNMA	4.500		10/15/39		59,752
	25,000,000	h	GNMA	5.000		10/15/39		27,453
	10,000,000	h	GNMA	6.000		10/15/39		11,152
	11,450		GNMA	6.500		08/15/23		13
	204,616		GNMA	6.500		05/20/31		236
	796,423		GNMA	5.500		07/15/33		885
	39,773		GNMA	6.500		08/15/23		45
	57,827		GNMA	9.000		12/15/17		65
	7,327,231		GNMA	2.300		10/15/19		7,323
	36,812		GNMA	8.000		06/15/22		43
	2,312,500		GNMA	5.000		04/15/38		2,542
	1,135,686		GNMA	6.000		08/15/38		1,268
	1,185,245		GNMA	6.000		08/20/38		1,322

362

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,826,991		GNMA	6.000	%	02/20/37	$	3,158
	506,611		GNMA	6.000		10/20/36		567
	537,296		GNMA	6.000		01/20/37		601
	2,641,826		GNMA	5.500		02/15/37		2,922
			TOTAL MORTGAGE BACKED					1,203,903
MUNICIPAL BONDS - 1.9%
	5,600,000		American Municipal Power-Ohio, Inc	6.270		02/15/50		6,314
	570,000		Atlanta Urban Residential Finance Authority	5.070		12/01/11		574
	4,500,000	g	Basin Electric Power Coop	6.130		06/01/41		4,813
	2,390,000		Charlotte-Mecklenburg Hospital Authority	5.000		08/01/15		2,600
			Chicago Metropolitan Water Reclamation District-Greater
	5,000,000		Chicago	5.720		12/01/38		6,077
	1,250,000		City & County of Honolulu HI	6.110		07/01/29		1,356
	4,000,000		City of Dallas TX	5.080		02/15/22		4,562
	1,500,000		City of Dallas TX	5.200		02/15/35		1,669
	890,000		City of Eugene OR	6.320		08/01/22		997
	5,000,000		City of New York NY	4.500		06/01/15		5,382
	1,055,000	j	City of Oakland CA	0.000		12/15/11		1,052
	4,750,000		Clean Water Services	5.700		10/01/30		5,569
	5,000,000		Commonwealth of Massachusetts	5.460		12/01/39		5,944
	55,000		County of Harnett NC	5.150		05/01/12		56
	2,050,000		County of Mercer NJ	5.380		02/01/17		2,184
	4,000,000		Dallas County Hospital District	5.620		08/15/44		4,891
			Douglas County Public Utility District No 1 Wells
	1,680,000		Hydroelectric	5.110		09/01/18		1,820
	1,400,000		Elkhart Redevelopment District	5.500		06/15/18		1,495
	7,440,000		Fiscal Year 2005 Securitization Corp	4.760		08/15/19		8,168
	3,500,000		Grant County Public Utility District No 2	5.630		01/01/27		3,954
	1,900,000		Guadalupe Valley Electric Coop, Inc	5.670		10/01/32		1,755
	1,000,000		Kansas Development Finance Authority	4.590		05/01/14		1,069
	1,350,000		Kansas Development Finance Authority	4.720		05/01/15		1,480
	1,880,000	g	LL & P Wind Energy, Inc	5.220		12/01/12		1,882
	7,270,000		Massachusetts Housing Finance Agency	4.780		12/01/20		7,496
	5,400,000		Massachusetts St. Water Pollution Abatement	5.190		08/01/40		6,194
	3,000,000		Metropolitan Washington Airports Authority	5.690		10/01/30		3,343
	5,000,000		Metropolitan Water District of Southern California	6.250		07/01/39		5,544
	750,000		Metropolitan Water Reclamation District of Greater Chicago	2.230		12/01/16		762
	5,000,000		Mississippi Development Bank Special Obligation	5.320		07/01/14		5,360
	1,095,000		New York State Environmental Facilities Corp	4.900		12/15/11		1,103
	3,000,000		New York State Urban Development Corp	6.500		12/15/18		3,492
	2,500,000		Newport News Economic Development Authority	5.640		01/15/29		2,672
	2,450,000		Ohio State Water Development Authority	4.880		12/01/34		2,701
	2,500,000		Oklahoma Capital Improvement Authority	5.180		07/01/14		2,794
	3,750,000		State of California	7.630		03/01/40		4,623
	5,000,000		State of Connecticut	5.090		10/01/30		5,387
	2,050,000		State of Hawaii	4.670		05/01/14		2,220
	5,000,000		State of Illinois	4.070		01/01/14		5,148
	5,570,000		State of Illinois	4.350		06/01/18		5,522
	5,750,000		State of Michigan	4.600		11/01/11		5,766
	5,000,000		State of Michigan	2.300		11/01/14		5,121
	2,500,000		State of Ohio	5.410		09/01/28		2,858

363

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,050,000	State of Oregon	5.030	%	08/01/14	$	3,375
	3,265,000	State of Texas	4.900		08/01/20		3,580
	5,000,000	State of Texas	6.070		10/01/29		5,839
	4,240,000	State of Washington	5.050		01/01/18		4,350
	1,033,000	State of Wisconsin	5.700		05/01/26		1,182
	5,000,000	Tuolumne Wind Project Authority	6.920		01/01/34		5,792
	2,025,000	University Central Florida University Revenues	5.130		10/01/20		1,904
	4,900,000	UNM Sandoval Regional Medical Center	4.500		07/20/36		5,212
		TOTAL MUNICIPAL BONDS					185,003
U.S. TREASURY SECURITIES - 6.0%
	60,000,000	United States Treasury Bond	8.000		11/15/21		93,713
	5,000,000	United States Treasury Bond	6.380		08/15/27		7,520
	20,000,000	United States Treasury Bond	5.250		02/15/29		27,316
	13,176,000	United States Treasury Bond	5.380		02/15/31		18,535
	35,800,000	United States Treasury Bond	3.500		02/15/39		39,805
	24,282,500	United States Treasury Bond	3.880		08/15/40		28,851
	2,435,500	United States Treasury Bond	4.750		02/15/41		3,328
	12,935,000	United States Treasury Bond	4.380		05/15/41		16,710
	4,275,000	United States Treasury Note	0.630		06/30/12		4,290
	1,400,000	United States Treasury Note	0.500		11/30/12		1,405
	4,500,000	United States Treasury Note	0.630		02/28/13		4,526
	15,000,000	United States Treasury Note	0.500		05/31/13		15,063
	2,325,000	United States Treasury Note	0.130		08/31/13		2,319
	2,670,000	United States Treasury Note	3.130		09/30/13		2,821
	34,100,000	United States Treasury Note	0.500		10/15/13		34,233
	29,030,000	United States Treasury Note	2.250		05/31/14		30,445
	2,935,000	United States Treasury Note	0.630		07/15/14		2,953
	2,790,000	United States Treasury Note	0.500		08/15/14		2,797
	22,395,000	United States Treasury Note	2.380		08/31/14		23,653
	900,000	United States Treasury Note	0.250		09/15/14		896
	17,585,000	United States Treasury Note	2.130		11/30/14		18,492
	3,631,000	United States Treasury Note	2.500		04/30/15		3,878
	17,895,000	United States Treasury Note	1.880		06/30/15		18,723
	500	United States Treasury Note	1.250		09/30/15		1
	106,225,000	United States Treasury Note	1.250		10/31/15		108,474
	11,325,000	United States Treasury Note	1.500		06/30/16		11,637
	27,882,500	United States Treasury Note	1.000		08/31/16		27,952
	3,905,000	United States Treasury Note	2.380		05/31/18		4,157
	7,842,000	United States Treasury Note	1.500		08/31/18		7,880
	16,685,000	United States Treasury Note	2.630		11/15/20		17,843
	7,985,000	United States Treasury Note	2.130		08/15/21		8,126
		TOTAL U.S. TREASURY SECURITIES					588,342
		TOTAL GOVERNMENT BONDS					2,648,919
		(Cost $2,516,784)
STRUCTURED ASSETS - 2.2%
ASSET BACKED - 0.7%
	5,000,000	AmeriCredit Automobile Receivables Trust	2.850		08/08/16		5,040
		Series - 2011 1 (Class C)

364

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,500,000	g	Avis Budget Rental Car Funding AESOP LLC	3.150	%	03/20/17	$	1,545
			Series - 2010 5A (Class A)
	3,501,139	i	Chase Funding Loan Acquisition Trust	0.800		06/25/34		2,609
			Series - 2004 OPT1 (Class M1)
	674,364	i	Chase Funding Mortgage Loan Asset-Backed Certificates	5.700		02/25/35		150
			Series - 2004 2 (Class 1B)
	1,671,460	i	Countrywide Asset-Backed Certificates	5.680		10/25/46		1,616
			Series - 2006 15 (Class A2)
	550,264	i	Countrywide Home Equity Loan Trust	0.450		02/15/29		361
			Series - 2004 B (Class 1A)
	1,969,257	g	Credit-Based Asset Servicing and Securitization LLC	6.160		12/25/36		1,893
			Series - 2007 MX1 (Class A1)
	7,105,169	g	Flagstar Home Equity Loan Trust	5.780		01/25/35		6,606
			Series - 2007 1A (Class AF3)
	1,500,000		Ford Credit Auto Owner Trust	3.210		07/15/17		1,548
			Series - 2011 A (Class D)
	537,643		GMAC Commercial Mortgage Securities, Inc	5.590		10/25/29		532
			Series - 2006 HLTV (Class A3)
	2,282,000		GMAC Commercial Mortgage Securities, Inc	5.810		10/25/29		1,812
			Series - 2006 HLTV (Class A4)
	7,784,237		Lehman XS Trust	6.500		06/25/46		4,331
			Series - 2006 13 (Class 2A1)
	1,338,497	i	Long Beach Mortgage Loan Trust	0.690		02/25/35		1,318
			Series - 2005 1 (Class M1)
	409,026	i	Morgan Stanley ABS Capital I	0.270		01/25/37		398
			Series - 2007 HE2 (Class A2A)
	4,010,000		Renaissance Home Equity Loan Trust	5.590		11/25/36		1,696
			Series - 2006 3 (Class AF3)
	750,000	g	Rental Car Finance Corp	2.510		02/25/16		761
			Series - 2011 1A (Class A1)
	1,539,335		Residential Asset Mortgage Products, Inc	4.970		09/25/33		1,540
			Series - 2003 RZ5 (Class A7)
	940,000	i	Residential Asset Securities Corp	0.660		04/25/35		811
			Series - 2005 KS3 (Class M3)
	841,020		Residential Funding Mortgage Securities II, Inc	5.520		04/25/21		831
			Series - 2006 HI5 (Class A2)
	9,000,000		Residential Funding Mortgage Securities II, Inc	5.500		08/25/25		7,452
			Series - 2006 HI5 (Class A3)
	4,917,542		Residential Funding Mortgage Securities II, Inc	5.960		02/25/36		4,395
			Series - 2006 HI3 (Class A3)
	2,000,000		Residential Funding Mortgage Securities II, Inc	6.010		02/25/36		1,714
			Series - 2006 HI1 (Class M1)
	200,000		Residential Funding Mortgage Securities II, Inc	6.060		02/25/36		151
			Series - 2006 HI1 (Class M2)
	11,698,641		Residential Funding Mortgage Securities II, Inc	5.440		09/25/36		10,593
			Series - 2006 HI4 (Class A3)
	794,013	i	Securitized Asset Backed Receivables LLC Trust	0.380		03/25/36		744
			Series - 2006 NC2 (Class A2)
	1,400,000	g	SLM Student Loan Trust	4.370		04/17/28		1,483
			Series - 2011 A (Class A2)
	1,750,000	g	SLM Student Loan Trust	3.740		02/15/29		1,760
			Series - 2011 B (Class A2)

365

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,658,158	i	Soundview Home Equity Loan Trust	0.340	%	10/25/36	$	1,619
			Series - 2006 EQ1 (Class A2)
	1,238,930	i	Structured Asset Investment Loan Trust	0.630		05/25/35		1,178
			Series - 2005 4 (Class M1)
	958,730	g,m	Wachovia Amortization Controlled Heloc NIM	5.680		08/12/47		791
			Series - 2006 N1 (Class N1)
	1,435,691	g,i	Wachovia Loan Trust	0.590		05/25/35		1,129
			Series - 2005 SD1 (Class A)
	1,004,641	i	Wells Fargo Home Equity Trust	0.370		07/25/36		865
			Series - 2006 2 (Class A3)
			TOTAL ASSET BACKED					69,272
OTHER MORTGAGE BACKED - 1.5%
	1,355,000	i	Banc of America Commercial Mortgage, Inc	4.770		07/10/43		1,202
			Series - 2005 3 (Class AJ)
	950,000		Banc of America Commercial Mortgage, Inc	5.680		07/10/46		886
			Series - 2006 4 (Class AM)
	3,220,000	i	Banc of America Commercial Mortgage, Inc	5.820		04/10/49		3,442
			Series - 2007 2 (Class A4)
	1,068,500		Bank of America Alternative Loan Trust	5.500		09/25/19		1,066
			Series - 2004 8 (Class 3A1)
	1,370,793		Bear Stearns Asset Backed Securities Trust	5.250		04/25/35		1,237
			Series - 2005 AC2 (Class 1A)
	505,000		Bear Stearns Commercial Mortgage Securities	5.200		12/11/38		546
			Series - 2006 PW14 (Class A4)
	2,200,000	i	Bear Stearns Commercial Mortgage Securities	5.580		09/11/41		2,166
			Series - 2006 PW13 (Class AM)
	2,405,000	i	Bear Stearns Commercial Mortgage Securities	5.570		10/12/41		2,373
			Series - 2006 T24 (Class AM)
	2,655,000	i	Bear Stearns Commercial Mortgage Securities	4.750		02/13/46		2,828
			Series - 2004 T16 (Class A6)
	555,000	i	Bear Stearns Commercial Mortgage Securities	5.690		06/11/50		591
			Series - 2007 PW17 (Class A4)
	895,000		Bear Stearns Commercial Mortgage Securities	5.700		06/11/50		964
			Series - 2007 PW18 (Class A4)
	2,515,000	i	Commercial Mortgage Pass Through Certificates	5.650		12/10/49		2,266
			Series - 2007 C9 (Class AM)
	3,004,702		Countrywide Alternative Loan Trust	5.500		08/25/16		3,033
			Series - 2004 30CB (Class 1A15)
	1,830,643		Countrywide Home Loan Mortgage Pass Through Trust	5.250		02/25/16		1,738
			Series - 2005 6 (Class 1A10)
	2,437,893		Countrywide Home Loan Mortgage Pass Through Trust	4.750		09/25/18		2,526
			Series - 2003 35 (Class 1A1)
	1,065,919		Countrywide Home Loan Mortgage Pass Through Trust	5.250		05/25/35		1,036
			Series - 2005 12 (Class 1A5)
	638,047		Countrywide Home Loan Mortgage Pass Through Trust	5.500		09/25/35		629
			Series - 2005 J3 (Class 1A1)
	1,546,178	g,i	Credit Suisse Mortgage Capital Certificates	0.410		04/15/22		1,400
			Series - 2007 TF2A (Class A1)
	4,500,000	g	Credit Suisse Mortgage Capital Certificates	5.380		02/15/40		4,172
			Series - 2009 RR1 (Class A3C)

366

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,210,000		CS First Boston Mortgage Securities Corp	4.050	%	05/15/38	$	1,196
			Series - 2003 C3 (Class B)
	2,462,000	i	CS First Boston Mortgage Securities Corp	5.100		08/15/38		2,668
			Series - 2005 C5 (Class A4)
	1,715,000	g,i	DB/UBS Mortgage Trust	5.730		11/10/46		1,515
			Series - 2011 LC1A (Class C)
	1,810,183	i	GMAC Mortgage Corp Loan Trust	4.560		10/19/33		1,849
			Series - 2003 AR1 (Class A5)
	15,430,000	i	Greenwich Capital Commercial Funding Corp	5.890		07/10/38		14,428
			Series - 2006 GG7 (Class AM)
	2,750,000	g	GS Mortgage Securities Corp II	5.150		08/10/43		2,605
			Series - 2010 C1 (Class B)
	1,690,000	g,i	GS Mortgage Securities Corp II	5.400		12/10/43		1,439
			Series - 2010 C2 (Class C)
	2,535,000	g,i	GS Mortgage Securities Corp II	5.400		12/10/43		2,404
			Series - 2010 C2 (Class B)
	767,188	i	GSR Mortgage Loan Trust	2.790		01/25/36		719
			Series - 2006 AR1 (Class 2A2)
	807,739	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	0.410		02/15/20		787
			Series - 2006 FL1A (Class A2)
	3,607,078	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	0.550		02/15/20		3,360
			Series - 2006 FL1A (Class D)
	380,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	5.070		11/15/43		361
			Series - 2010 C2 (Class B)
	775,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	5.720		11/15/43		718
			Series - 2010 C2 (Class C)
	3,375,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.440		05/15/45		3,259
			Series - 2006 LDP8 (Class AM)
	2,125,000	g,i,m	JP Morgan Chase Commercial Mortgage Securities Corp	5.430		07/15/46		1,840
			Series - 2011 C4 (Class C)
	4,120,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	5.820		06/15/49		4,306
			Series - 2007 LD11 (Class A4)
	816,467	i	JP Morgan Mortgage Trust	4.300		04/25/35		813
			Series - 2005 A2 (Class 5A1)
	1,125,000		LB-UBS Commercial Mortgage Trust	4.740		02/15/30		1,201
			Series - 2005 C1 (Class A4)
	900,000	i	LB-UBS Commercial Mortgage Trust	5.150		04/15/30		973
			Series - 2005 C2 (Class A5)
	6,120,000		LB-UBS Commercial Mortgage Trust	5.420		02/15/40		6,459
			Series - 2007 C1 (Class A4)
	1,750,000		LB-UBS Commercial Mortgage Trust	5.430		02/15/40		1,797
			Series - 2007 C2 (Class A3)
	4,100,000		LB-UBS Commercial Mortgage Trust	5.460		02/15/40		3,625
			Series - 2007 C1 (Class AM)
	2,450,000	i	LB-UBS Commercial Mortgage Trust	5.860		07/15/40		2,622
			Series - 2007 C6 (Class A4)
	1,268,384		MASTR Asset Securitization Trust	5.000		05/25/35		1,268
			Series - 2005 1 (Class 2A5)
	1,645,209	i	Merrill Lynch Mortgage Trust	5.110		07/12/38		1,621
			Series - 2005 CIP1 (Class AM)
	4,040,000	i	Merrill Lynch/Countrywide Commercial Mortgage Trust	5.170		12/12/49		4,308
			Series - 2006 4 (Class A3)

367

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	6,300,000	i	Morgan Stanley Capital I	5.450	%	02/12/44	$	6,756
			Series - 2007 HQ11 (Class A4)
	3,185,000	g,i	Morgan Stanley Capital I	5.420		09/15/47		2,693
			Series - 2011 C1 (Class C)
	1,710,000	g,i	Morgan Stanley Capital I	5.420		09/15/47		1,322
			Series - 2011 C1 (Class D)
	850,000	i	Morgan Stanley Capital I	5.540		11/12/49		822
			Series - 2007 T25 (Class AM)
	2,750,000	g	OBP DEPOSITOR LLC TRUST	4.650		07/15/45		2,920
			Series - 2010 OBP (Class A)
	2,215,000	g,i	RBSCF Trust	4.830		04/15/24		1,995
			Series - 2010 MB1 (Class D)
	3,001,638		Residential Accredit Loans, Inc	6.000		06/25/36		1,800
			Series - 2006 QS7 (Class A3)
	5,500,840	i	Residential Accredit Loans, Inc	0.420		05/25/46		3,111
			Series - 2006 QO5 (Class 2A1)
	1,729,000	i	Residential Funding Mortgage Securities I, Inc	2.910		08/25/35		1,480
			Series - 2005 SA3 (Class 2A1)
	525,794	i	Structured Adjustable Rate Mortgage Loan Trust	0.610		03/25/35		495
			Series - 2005 6XS (Class A3)
	2,750,000	g	Vornado DP LLC	5.280		09/13/28		2,453
			Series - 2010 VNO (Class C)
	3,390,000		Wachovia Bank Commercial Mortgage Trust	5.380		12/15/43		2,711
			Series - 2007 C30 (Class AM)
	6,880,000	i	Wachovia Bank Commercial Mortgage Trust	6.170		06/15/45		6,519
			Series - 2006 C26 (Class AM)
	1,060,000	i	Wachovia Bank Commercial Mortgage Trust	5.820		05/15/46		907
			Series - 2007 C34 (Class AM)
	2,505,000		Wachovia Bank Commercial Mortgage Trust	5.500		04/15/47		2,592
			Series - 2007 C31 (Class A5)
	1,160,000		Wachovia Bank Commercial Mortgage Trust	5.340		11/15/48		1,057
			Series - 2006 C29 (Class AM)
	6,385,000	i	Wachovia Bank Commercial Mortgage Trust	5.370		11/15/48		3,933
			Series - 2006 C29 (Class AJ)
	2,175,000	i	Wachovia Bank Commercial Mortgage Trust	6.100		02/15/51		2,291
			Series - 2007 C33 (Class A4)
	1,745,000	i	Wachovia Bank Commercial Mortgage Trust	6.100		02/15/51		1,839
			Series - 2007 C33 (Class A5)
	1,213,360		Wells Fargo Mortgage Backed Securities Trust	5.500		04/25/35		1,224
			Series - 2005 2 (Class 1A1)
	301,493	i	Wells Fargo Mortgage Backed Securities Trust	5.390		03/25/36		300
			Series - 2006 AR1 (Class 2A2)
			TOTAL OTHER MORTGAGE BACKED					151,462
			TOTAL STRUCTURED ASSETS					220,734
			(Cost $233,643)
			TOTAL BONDS					3,948,123
			(Cost $3,760,958)

368

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 58.8%
AUTOMOBILES & COMPONENTS - 1.2%
	29,200		Aisin Seiki Co Ltd	$	972
	81,409	*,e	American Axle & Manufacturing Holdings, Inc		621
	898		Autoliv, Inc		44
	127,203		Bayerische Motoren Werke AG.		8,403
	10,771		Bayerische Motoren Werke AG. (Preference)		505
	57,644	*,e	BorgWarner, Inc		3,489
	141,200		Denso Corp		4,539
	2,955,864	*	Ford Motor Co		28,583
	8,129	*,e	Fuel Systems Solutions, Inc		156
	215,212		Harley-Davidson, Inc		7,388
	333,880		Honda Motor Co Ltd		9,781
	811,755		Johnson Controls, Inc		21,406
	137,000	*	Mitsubishi Motors Corp		182
	38,400	*	Modine Manufacturing Co		348
	714,800		Nissan Motor Co Ltd		6,325
	57,840		Peugeot S.A.		1,230
	97,815		Pirelli & C S.p.A.		696
	95,046		Renault S.A.		3,148
	9,200		Stanley Electric Co Ltd		139
	48,870		Superior Industries International, Inc		755
	40,600		Suzuki Motor Corp		895
	124,285	*	Tenneco, Inc		3,183
	1,793	*,e	Tesla Motors, Inc		44
	2,900		Toyoda Gosei Co Ltd		55
	32,600		Toyota Industries Corp		951
	77,972		Volkswagen AG. (Preference)		10,290
	102,500	*	Yamaha Motor Co Ltd		1,353
			TOTAL AUTOMOBILES & COMPONENTS		115,481
BANKS - 3.0%
	7,264		Associated Banc-Corp		68
	455,847	*	Australia & New Zealand Banking Group Ltd		8,461
	1,911,833		Banca Intesa S.p.A.		2,998
	766,621		Banca Intesa S.p.A. RSP		985
	864,692		Banco Bilbao Vizcaya Argentaria S.A.		7,159
	209,409		Banco Comercial Portugues S.A.		54
	993,906		Banco Santander Central Hispano S.A.		8,126
	18,612		Bank of Hawaii Corp		677
	205,100		Bank of Nova Scotia		10,319
	1,055,016		Barclays plc		2,587
	1,043,957		BB&T Corp		22,268
	8,742	e	CapitalSource, Inc		54
	7,221	e	Capitol Federal Financial		76
	3,360		Cathay General Bancorp		38
	64,852	*,e	Citizens Republic Bancorp, Inc		449
	2,120	e	Columbia Banking System, Inc		30
	153,315		Comerica, Inc		3,522
	1,101		Commerce Bancshares, Inc		38
	301,281		Commonwealth Bank of Australia		13,103

369

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	3,936		Community Bank System, Inc	$	89
	1,591		Cullen/Frost Bankers, Inc		73
	88,910	*	Danske Bank AS		1,244
	371,719	*	Dexia		707
	194,588		DNB NOR Holding ASA		1,939
	2,420	e	East West Bancorp, Inc		36
	1,345,025		Fifth Third Bancorp		13,585
	187,908		First Horizon National Corp		1,120
	7,421		First Niagara Financial Group, Inc		68
	5,385	e	FNB Corp		46
	2,590		Glacier Bancorp, Inc		24
	1,710		Hancock Holding Co		46
	313,500		Hang Seng Bank Ltd		3,673
	2,787,818		HSBC Holdings plc		21,353
	235,232		Hudson City Bancorp, Inc		1,331
	9,132		Huntington Bancshares, Inc		44
	1,147	e	International Bancshares Corp		15
	90,119		KBC Groep NV		2,079
	1,119,466		Keycorp		6,638
	156,691		M&T Bank Corp		10,953
	1,800		MB Financial, Inc		26
	23,820	*	MGIC Investment Corp		45
	1,746,800		Mitsubishi UFJ Financial Group, Inc		8,017
	3,311,900		Mizuho Financial Group, Inc		4,850
	363,219		National Australia Bank Ltd		7,715
	6,490		National Penn Bancshares, Inc		45
	1,500		NBT Bancorp, Inc		28
	202,104	e	New York Community Bancorp, Inc		2,405
	619,838		Nordea Bank AB		5,016
	19,938		Old National Bancorp		186
	600	e	Park National Corp		32
	13,612		People’s United Financial, Inc		155
	2,500	*,e	Pinnacle Financial Partners, Inc		27
	29,650	*,e	PMI Group, Inc		6
	520,027		PNC Financial Services Group, Inc		25,060
	1,987,455	*	Popular, Inc		2,981
	53,363		Provident Financial Services, Inc		574
	39,760	e	Radian Group, Inc		87
	1,093,301		Regions Financial Corp		3,641
	246,510		Royal Bank of Canada (Toronto)		11,306
	5,806,276	*	Royal Bank of Scotland Group plc		2,077
	1,000	e	S&T Bancorp, Inc		16
	685,000		Shinsei Bank Ltd		770
	410,200		Shizuoka Bank Ltd		4,298
	1,200	*	Signature Bank		57
	221,278		Skandinaviska Enskilda Banken AB (Class A)		1,190
	328,241		Standard Chartered plc		6,549
	5,030		Susquehanna Bancshares, Inc		28
	26,013	*	SVB Financial Group		962
	244,510		Svenska Handelsbanken (A Shares)		6,222
	6,304		TCF Financial Corp		58
	138,711		Toronto-Dominion Bank		9,874

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,700		Trustmark Corp	$	31
	3,150		Umpqua Holdings Corp		28
	2,122,460		UniCredito Italiano S.p.A.		2,251
	1,526,841		US Bancorp		35,942
	5,844		Webster Financial Corp		89
	5,690	*	Western Alliance Bancorp		31
	591,023		Westpac Banking Corp		11,445
	1,110	e	Wintrust Financial Corp		29
	15,516		Zions Bancorporation		218
			TOTAL BANKS		300,442
CAPITAL GOODS - 4.8%
	502,094		3M Co		36,045
	5,700		A.O. Smith Corp		183
	9,214	*,e	A123 Systems, Inc		32
	35,850		ACS Actividades Cons y Servicios S.A.		1,263
	4,358		Actuant Corp (Class A)		86
	66,830		Alfa Laval AB		1,052
	2,655	*,e	American Superconductor Corp		10
	454,831		Ametek, Inc		14,996
	4,300		Ampco-Pittsburgh Corp		88
	5,965	e	Apogee Enterprises, Inc		51
	3,036		Applied Industrial Technologies, Inc		82
	64,776	*,e	ArvinMeritor, Inc		457
	312,000		Asahi Glass Co Ltd		3,046
	43,100		Assa Abloy AB (Class B)		887
	10,969	*	Astec Industries, Inc		321
	117,114		Balfour Beatty plc		463
	120,801		Barnes Group, Inc		2,325
	2,120	*	Beacon Roofing Supply, Inc		34
	258		Belden CDT, Inc		7
	333,800		Bombardier, Inc		1,169
	90,747		Bouygues S.A.		3,002
	1,300		Brady Corp (Class A)		34
	29,997		Briggs & Stratton Corp		405
	23,239	*,e	Builders FirstSource, Inc		30
	299,328		Bunzl plc		3,567
	8,500		CAE, Inc		80
	451,140		Caterpillar, Inc		33,311
	1,131	*	Chart Industries, Inc		48
	118,516		Cintra Concesiones de Infraestructuras de Transporte S.A.		1,351
	2,153		Clarcor, Inc		89
	1,734	*,e	Colfax Corp		35
	100,374		Compagnie de Saint-Gobain		3,829
	32,100		Cooper Industries plc		1,480
	241,660		Cummins, Inc		19,734
	26,300		Daikin Industries Ltd		753
	709,519		Danaher Corp		29,757
	402,318		Deere & Co		25,978
	2,541		Delek Group Ltd		385
	32,288		Dover Corp		1,505
	341,115		Eaton Corp		12,110

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	3,542	*	EMCOR Group, Inc	$	72
	738,763		Emerson Electric Co		30,518
	1,885	*	EnerSys		38
	1,280	*	EnPro Industries, Inc		38
	1,450		ESCO Technologies, Inc		37
	59,100	*	Fanuc Ltd		8,141
	36,274	e	Fastenal Co		1,207
	105,500	*	FIAT Industrial S.p.A.		788
	11,900		Finning International, Inc		217
	41,048	e	Fluor Corp		1,911
	26,280		Fomento de Construcciones y Contratas S.A.		648
	2,147	*,e	Foster Wheeler AG.		38
	2,330		Gardner Denver, Inc		148
	1,473		GATX Corp		46
	11,700		GEA Group AG.		273
	10,891		Geberit AG.		2,011
	1,350	*	General Cable Corp		32
	48,876	*	Gibraltar Industries, Inc		397
	1,500		Gorman-Rupp Co		37
	71,827		Graco, Inc		2,452
	57,000	*	GrafTech International Ltd		724
	1,240		Granite Construction, Inc		23
	966	e	Heico Corp		48
	2,491	*	Hexcel Corp		55
	32,600		Hitachi Construction Machinery Co Ltd		546
	9,600		Hochtief AG.		600
	635,747		Illinois Tool Works, Inc		26,446
	65,956		Ingersoll-Rand plc		1,853
	1,900	*	Insituform Technologies, Inc (Class A)		22
	2,300		Insteel Industries, Inc		23
	336,346		Invensys plc		1,172
	1,359	*	Jacobs Engineering Group, Inc		44
	628		Joy Global, Inc		39
	27,700		JS Group Corp		775
	119,400		Komatsu Ltd		2,574
	358,097		Koninklijke Philips Electronics NV		6,425
	288,000		Kubota Corp		2,349
	6,983	*	Layne Christensen Co		161
	36,587		LB Foster Co (Class A)		813
	26,197		Lincoln Electric Holdings, Inc		760
	11,900	*	Makita Corp		424
	407,000		Marubeni Corp		2,273
	358,039		Masco Corp		2,549
	12,396		Metso Oyj		363
	750	*	Middleby Corp		53
	359,000		Mitsubishi Electric Corp		3,180
	1,242	*	Moog, Inc (Class A)		41
	1,721		MSC Industrial Direct Co (Class A)		97
	114,717	*,e	NCI Building Systems, Inc		867
	83,000		NGK Insulators Ltd		1,249
	28,000		Nidec Corp		2,255
	144,838		Nordson Corp		5,756

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	86,000		NSK Ltd	$	632
	53,000		NWS Holdings Ltd		70
	137,293		Orkla ASA		1,044
	127,255	*	Owens Corning, Inc		2,759
	272,377		Paccar, Inc		9,212
	52,309		Pall Corp		2,218
	724		Parker Hannifin Corp		46
	43,748		Pentair, Inc		1,400
	32,031	*	Polypore International, Inc		1,810
	193,127		Precision Castparts Corp		30,023
	39,487		Quanex Building Products Corp		432
	90,332	*	Quanta Services, Inc		1,697
	71,717		Rockwell Automation, Inc		4,016
	959		Rockwell Collins, Inc		51
	42,835		Roper Industries, Inc		2,952
	3,300	*	Rush Enterprises, Inc (Class A)		47
	14,000		Safran S.A.		428
	204,680		Sandvik AB		2,359
	2,100	*	Sauer-Danfoss, Inc		61
	164,200		Scania AB (B Shares)		2,346
	182,088		Schneider Electric S.A.		9,745
	1,836,500		SembCorp Industries Ltd		4,740
	63,032	*,e	Sensata Technologies Holding BV		1,668
	98,000		Shimizu Corp		430
	2,998		Simpson Manufacturing Co, Inc		75
	56,800		Skanska AB (B Shares)		786
	12,800		SKF AB (B Shares)		241
	27,270		Smiths Group plc		421
	19,905		Snap-On, Inc		884
	215,781	*	Spirit Aerosystems Holdings, Inc (Class A)		3,441
	119,700		Sumitomo Electric Industries Ltd		1,406
	3,308	e	TAL International Group, Inc		83
	102,546		Tennant Co		3,627
	2,732		Timken Co		90
	610	*	TransDigm Group, Inc		50
	69,914		Tredegar Corp		1,037
	1,800	*,e	Trex Co, Inc		29
	394,521		Tyco International Ltd		16,077
	3,052	*	United Rentals, Inc		51
	1,070		Universal Forest Products, Inc		26
	5,510	*,e	USG Corp		37
	544		Valmont Industries, Inc		42
	37,780	*	Vestas Wind Systems AS		612
	165,360		Vinci S.A.		7,094
	341,990		Volvo AB (B Shares)		3,360
	122,824		W.W. Grainger, Inc		18,367
	9,022	*	Wabash National Corp		43
	43,850	*	WABCO Holdings, Inc		1,660
	1,517	e	Watsco, Inc		78
	19,023	*,e	WESCO International, Inc		638
	48,301		Westinghouse Air Brake Technologies Corp		2,554
	131,715		Wolseley plc		3,268

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	17,783		Zardoya Otis S.A.	$	226
			TOTAL CAPITAL GOODS		460,177
COMMERCIAL & PROFESSIONAL SERVICES - 0.5%
	2,604		ABM Industries, Inc		50
	23,001	*	ACCO Brands Corp		110
	58,558		Adecco S.A.		2,308
	10,075		Aggreko plc		254
	177,909		Avery Dennison Corp		4,461
	176,302		Brambles Ltd		1,087
	2,370		Brink’s Co		55
	2,100		Bureau Veritas S.A.		151
	120,569		Capita Group plc		1,321
	2,000		CDI Corp		21
	1,197	*	Copart, Inc		47
	6,678		Corporate Executive Board Co		199
	3,144	e	Covanta Holding Corp		48
	210,000		Dai Nippon Printing Co Ltd		2,172
	18,020		Deluxe Corp		335
	80,565		Dun & Bradstreet Corp		4,936
	1,517		Equifax, Inc		47
	303,817		Experian Group Ltd		3,411
	2,000		Heidrick & Struggles International, Inc		33
	8,629		Herman Miller, Inc		154
	2,815	*,e	Higher One Holdings, Inc		46
	26,363	e	HNI Corp		504
	700	*	IHS, Inc (Class A)		52
	6,100		Intertek Group plc		175
	70,241	e	Iron Mountain, Inc		2,221
	2,980	e	Knoll, Inc		41
	3,300	*	Korn/Ferry International		40
	42,601		Manpower, Inc		1,432
	2,100	*	Mobile Mini, Inc		35
	40,198	e	Pitney Bowes, Inc		756
	76,043	e	R.R. Donnelley & Sons Co		1,074
	30,400		Randstad Holdings NV		969
	141,700		Robert Half International, Inc		3,007
	53,100		Secom Co Ltd		2,560
	5,810	e	Steelcase, Inc (Class A)		37
	44,676	*,e	Tetra Tech, Inc		837
	179,000		Toppan Printing Co Ltd		1,304
	1,400		United Stationers, Inc		38
	2,100		Viad Corp		36
	219,838	e	Waste Management, Inc		7,157
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		43,521
CONSUMER DURABLES & APPAREL - 0.9%
	12,448		Adidas-Salomon AG.		758
	4,859	e	American Greetings Corp (Class A)		90
	45,900		Burberry Group plc		834
	32,738	e	Callaway Golf Co		169
	1,557	*	Carter’s, Inc		48

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	30,220		Christian Dior S.A.	$	3,383
	187,926		Coach, Inc		9,739
	341	e	Columbia Sportswear Co		16
	101,873		Compagnie Financiere Richemont S.A.		4,538
	2,733	*,e	Deckers Outdoor Corp		255
	24,204	*,e	Eastman Kodak Co		19
	10,000		Electrolux AB (Series B)		147
	2,380	e	Ethan Allen Interiors, Inc		32
	9,700		Gildan Activewear, Inc		252
	1,769	*	Hanesbrands, Inc		44
	2,492		Hasbro, Inc		81
	4,959	*	Iconix Brand Group, Inc		78
	13,951	e	KB Home		82
	1,990	*	Maidenform Brands, Inc		47
	405,800		Matsushita Electric Industrial Co Ltd		3,923
	559,551		Mattel, Inc		14,488
	1,009	*	Mohawk Industries, Inc		43
	23,800		Movado Group, Inc		290
	3,748		Newell Rubbermaid, Inc		44
	390,663		Nike, Inc (Class B)		33,405
	197,000		Nikon Corp		4,647
	22,800	e	Oxford Industries, Inc		782
	14,200		Pandora AS		95
	32,344		Phillips-Van Heusen Corp		1,884
	2,000	e	Pool Corp		52
	50,000		Sekisui Chemical Co Ltd		420
	81,000		Sekisui House Ltd		759
	132,000	*	Sharp Corp		1,109
	173,100	*	Sony Corp		3,314
	9,700	*	Tempur-Pedic International, Inc		510
	3,202	*	True Religion Apparel, Inc		86
	22,874		Tupperware Corp		1,229
	1,150	*,e	Under Armour, Inc (Class A)		76
	43,973		VF Corp		5,344
	1,872	*	Warnaco Group, Inc		86
	10,619		Whirlpool Corp		530
	123,400		Yamaha Corp		1,335
			TOTAL CONSUMER DURABLES & APPAREL		95,063
CONSUMER SERVICES - 1.2%
	35,220	*	AFC Enterprises		417
	800	*,e	American Public Education, Inc		27
	5,100		Autogrill S.p.A.		51
	30,700		Benesse Corp		1,359
	1,710	*	BJ’s Restaurants, Inc		75
	7,343		Bob Evans Farms, Inc		209
	2,181		Brinker International, Inc		46
	1,171		CBRL Group, Inc		47
	1,020		CEC Entertainment, Inc		29
	1,799	*	Cheesecake Factory		44
	154	*	Chipotle Mexican Grill, Inc (Class A)		47
	100,121	e	Choice Hotels International, Inc		2,976

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	2,246	*,e	Coinstar, Inc	$	90
	498,183		Compass Group plc		4,019
	124,827		Darden Restaurants, Inc		5,336
	1,679		DeVry, Inc		62
	1,346	*	DineEquity, Inc		52
	3,400	*	Domino’s Pizza, Inc		93
	74,462	*,e	Gaylord Entertainment Co		1,440
	3,984	*	Jack in the Box, Inc		79
	317,129		Marriott International, Inc (Class A)		8,639
	639,002		McDonald’s Corp		56,117
	12,376	*,e	O’Charleys, Inc		74
	949	*	Panera Bread Co (Class A)		99
	1,300	*	Papa John’s International, Inc		40
	1,110	*,e	Peet’s Coffee & Tea, Inc		62
	2,433	e	PF Chang’s China Bistro, Inc		66
	11,375	*	Ruby Tuesday, Inc		81
	29,578	*	Sonic Corp		209
	702,477		Starbucks Corp		26,195
	124,901		Starwood Hotels & Resorts Worldwide, Inc		4,849
	607	e	Strayer Education, Inc		47
	7,400		Tim Hortons, Inc (Toronto)		344
	2,200		Universal Technical Institute, Inc		30
	2,068	e	Vail Resorts, Inc		78
	7,580	e	Weight Watchers International, Inc		442
	7,800		Whitbread plc		191
	62,083		Wyndham Worldwide Corp		1,770
	85,600		Yum! Brands, Inc		4,228
			TOTAL CONSUMER SERVICES		120,059
DIVERSIFIED FINANCIALS - 2.8%
	4,200		Aeon Credit Service Co Ltd		65
	217,737	*	American Capital Ltd		1,485
	849,614		American Express Co		38,148
	182,415		Ameriprise Financial, Inc		7,180
	5,979		Apollo Investment Corp		45
	3,458		Ares Capital Corp		48
	1,367,637		Bank of New York Mellon Corp		25,423
	144,735		BlackRock, Inc		21,422
	555,952		Capital One Financial Corp		22,032
	2,073		CBOE Holdings, Inc		51
	1,600,591		Charles Schwab Corp		18,039
	61,163		CME Group, Inc		15,070
	1,362	e	Cohen & Steers, Inc		39
	46,300	*	Deutsche Boerse AG. - New		2,342
	619,143		Discover Financial Services		14,203
	4,119	*	E*Trade Financial Corp		38
	34,040		Eaton Vance Corp		758
	51,550		Evercore Partners, Inc (Class A)		1,175
	258,608		Franklin Resources, Inc		24,733
	1,704	*,e	Green Dot Corp		53
	1,736	e	Greenhill & Co, Inc		50
	92,268	*	IntercontinentalExchange, Inc		10,912

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,750	*	International Assets Holding Corp	$	36
	440,262		Invesco Ltd		6,828
	3,030	*	Investment Technology Group, Inc		30
	9,972		Janus Capital Group, Inc		60
	2,903		Jefferies Group, Inc		36
	1,570		KBW, Inc		22
	21,000		Kinnevik Investment AB (Series B)		389
	4,153	*	Knight Capital Group, Inc (Class A)		51
	97,520	e	Legg Mason, Inc		2,507
	508,899	*	MF Global Holdings Ltd		2,102
	3,000		Mitsubishi UFJ Lease & Finance Co Ltd		120
	94,335	*	Nasdaq Stock Market, Inc		2,183
	135,919	*,e	NewStar Financial, Inc		1,269
	898,700	*	Nomura Holdings, Inc		3,277
	236,683		Northern Trust Corp		8,279
	292,317		NYSE Euronext		6,793
	2,760	*	PHH Corp		44
	15,778	*,e	Safeguard Scientifics, Inc		237
	102,537		SEI Investments Co		1,577
	547,900		State Street Corp		17,620
	285,505		T Rowe Price Group, Inc		13,639
			TOTAL DIVERSIFIED FINANCIALS		270,410
ENERGY - 5.4%
	23,400		Acergy S.A.		445
	29,700		Aker Kvaerner ASA		285
	25,700		AMEC plc		324
	342,332		Apache Corp		27,469
	16,000		ARC Energy Trust		344
	235,018	*,e	ATP Oil & Gas Corp		1,812
	4,366	*,e	Atwood Oceanics, Inc		150
	2,112	*	Basic Energy Services, Inc		30
	709,010		BG Group plc		13,569
	6,400		Bonavista Energy Trust		144
	2,730	*	Brigham Exploration Co		69
	117,299		Cabot Oil & Gas Corp		7,262
	230,902	*	Cairn Energy plc		1,001
	7,080	*	Cal Dive International, Inc		14
	214,719	*	Cameron International Corp		8,919
	24,454	e	CARBO Ceramics, Inc		2,507
	5,590	*	Carrizo Oil & Gas, Inc		120
	278,200		Cenovus Energy, Inc (Toronto)		8,567
	7,183	*,e	Cheniere Energy, Inc		37
	777,697		Chesapeake Energy Corp		19,870
	110,102		Cimarex Energy Co		6,133
	268,523	*,e	Clean Energy Fuels Corp		2,986
	5,145	*	Cobalt International Energy, Inc		40
	38,527	*	Compagnie Generale de Geophysique S.A.		679
	50,401	*	Complete Production Services, Inc		950
	1,993	*,e	Comstock Resources, Inc		31
	7,866	*	Concho Resources, Inc		560
	47,800	*	Contango Oil & Gas Co		2,615

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	934	*,e	Continental Resources, Inc	$	45
	163,000		Cosmo Oil Co Ltd		403
	17,200		Crescent Point Energy Corp		648
	190,536	e	Crosstex Energy, Inc		2,568
	134,618	*	CVR Energy, Inc		2,846
	6,000	*,e	Dawson Geophysical Co		141
	478,056	*	Denbury Resources, Inc		5,498
	447,961	*	Devon Energy Corp		24,835
	223,236	e	Diamond Offshore Drilling, Inc		12,220
	2,499	*	Dresser-Rand Group, Inc		101
	922,586		El Paso Corp		16,127
	290,374		Enbridge, Inc		9,269
	8,700		Enerplus Resources Fund		215
	624,899		ENI S.p.A.		10,994
	311,694		EOG Resources, Inc		22,133
	374,712		Equitable Resources, Inc		19,995
	12,782	*,e	Exterran Holdings, Inc		124
	246,288	*	FMC Technologies, Inc		9,260
	14,100		Fugro NV		711
	134,058		Galp Energia SGPS S.A.		2,448
	180,132	*	Global Industries Ltd		1,427
	16,840	*,e	GMX Resources, Inc		38
	51,477	*,e	Goodrich Petroleum Corp		608
	22,906		Gulf Island Fabrication, Inc		474
	65,116	*	Gulfmark Offshore, Inc		2,366
	84,505	*	Hercules Offshore, Inc		247
	418,155	e	Hess Corp		21,936
	151,299	*,e	Hornbeck Offshore Services, Inc		3,769
	4,600		Idemitsu Kosan Co Ltd		412
	670		Inpex Holdings, Inc		4,115
	58,369	*,e	ION Geophysical Corp		276
	4,180	*	Key Energy Services, Inc		40
	3,844	*,e	Kinder Morgan Management LLC		226
	9,058	*,e	Kodiak Oil & Gas Corp		47
	14,079		Lufkin Industries, Inc		749
	781,543		Marathon Oil Corp		16,866
	471,076		National Oilwell Varco, Inc		24,128
	121,531		Neste Oil Oyj		1,055
	148,046	*	Newfield Exploration Co		5,876
	6,729	*	Newpark Resources, Inc		41
	245,777		Nexen, Inc		3,823
	125,262	e	Noble Corp		3,676
	330,737		Noble Energy, Inc		23,416
	14,826	*,e	Northern Oil And Gas, Inc		287
	2,078	*,e	Oasis Petroleum, Inc		46
	23,381		Oceaneering International, Inc		826
	16,241	*	Oil States International, Inc		827
	139,826		OMV AG.		4,162
	542,243		Origin Energy Ltd		6,939
	4,321	*	OYO Geospace Corp		243
	20,500		Pacific Rubiales Energy Corp (Toronto)		434
	116,560	*	Parker Drilling Co		512

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	75,800		Penn West Energy Trust	$	1,125
	11,600		PetroBakken Energy Ltd		75
	23,300		Petrofac Ltd		431
	37,146	*,e	Petroleum Development Corp		720
	81,139	*,e	Petroquest Energy, Inc		446
	87,693	*	Pioneer Drilling Co		630
	173,922		Pioneer Natural Resources Co		11,439
	1,514	*	Plains Exploration & Production Co		34
	303,935	e	Questar Market Resources, Inc		8,228
	117,233	*,e	Quicksilver Resources, Inc		889
	96,905		Range Resources Corp		5,665
	769,765	*,e	Rentech, Inc		601
	293,175		Repsol YPF S.A.		7,739
	36,777	*,e	Rex Energy Corp		465
	13,890	*	Rosetta Resources, Inc		475
	42,882	e	RPC, Inc		700
	41,511		Saipem S.p.A.		1,457
	444,953		Santos Ltd		4,815
	894		SEACOR Holdings, Inc		72
	113,225		SeaDrill Ltd		3,127
	50,500		Showa Shell Sekiyu KK		360
	233,642	*	Southwestern Energy Co		7,787
	1,159,331		Spectra Energy Corp		28,439
	93,305	e	St. Mary Land & Exploration Co		5,659
	380,804		Suncor Energy, Inc		9,725
	50,807		Sunoco, Inc		1,576
	1,449	*	Superior Energy Services		38
	442,000		Talisman Energy, Inc		5,433
	7,769		Technip S.A.		622
	159,456		Tenaris S.A.		2,009
	5,071	*	Tetra Technologies, Inc		39
	800		Tidewater, Inc		34
	26,000		TonenGeneral Sekiyu KK		299
	249,291		Tullow Oil plc		5,042
	135,014	*	Ultra Petroleum Corp		3,743
	41,805	*	Unit Corp		1,543
	2,700		Vermilion Energy Trust		113
	895,694	*	Weatherford International Ltd		10,936
	329,719	*,e	Western Refining, Inc		4,108
	105,778	*	Whiting Petroleum Corp		3,711
			TOTAL ENERGY		517,749
FOOD & STAPLES RETAILING - 0.9%
	156,800		Aeon Co Ltd		2,121
	179,256		Carrefour S.A.		4,082
	2,277		Casey’s General Stores, Inc		99
	10,876		Casino Guichard Perrachon S.A.		849
	4,100		Colruyt S.A.		170
	10,250		Delhaize Group		599
	177,850	*	Distribuidora Internacional de Alimentacion S.A.		708
	172,768		J Sainsbury plc		736
	59,300		Jeronimo Martins SGPS S.A.		926

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	6,988		Kesko Oyj (B Shares)	$	215
	302,457		Koninklijke Ahold NV		3,557
	327,949		Kroger Co		7,202
	9,800		Lawson, Inc		555
	34,600		Loblaw Cos Ltd		1,302
	48,900		Metcash Ltd		193
	68,666		Metro AG.		2,915
	11,000		Metro, Inc		481
	221		Pricesmart, Inc		14
	961		Ruddick Corp		37
	440,233		Safeway, Inc		7,321
	128,700		Seven & I Holdings Co Ltd		3,607
	18,582		Spartan Stores, Inc		288
	974,945		Sysco Corp		25,252
	1,871,476		Tesco plc		10,963
	1,270	*	United Natural Foods, Inc		47
	59,424		Whole Foods Market, Inc		3,881
	2,600	*,e	Winn-Dixie Stores, Inc		15
	152,243		WM Morrison Supermarkets plc		686
	231,372		Woolworths Ltd		5,529
			TOTAL FOOD & STAPLES RETAILING		84,350
FOOD, BEVERAGE & TOBACCO - 2.7%
	137,000		Ajinomoto Co, Inc		1,618
	28,818		Aryzta AG.		1,251
	186,388		Associated British Foods plc		3,209
	373,552	e	Campbell Soup Co		12,092
	189,544		Coca Cola Hellenic Bottling Co S.A.		3,341
	61,400		Coca-Cola Amatil Ltd		703
	6,100		Coca-Cola West Japan Co Ltd		117
	87,141		ConAgra Foods, Inc		2,111
	5,450	*	Darling International, Inc		69
	1,010	e	Diamond Foods, Inc		81
	1,266		Dr Pepper Snapple Group, Inc		49
	2,100		Flowers Foods, Inc		41
	844,419		General Mills, Inc		32,485
	107,228	*	Green Mountain Coffee Roasters, Inc		9,966
	169,225		Groupe Danone		10,403
	379,827		H.J. Heinz Co		19,174
	2,100	*	Hain Celestial Group, Inc		64
	14,472	*	Hansen Natural Corp		1,263
	19,174		Hormel Foods Corp		518
	42,039		J.M. Smucker Co		3,064
	474,541		Kellogg Co		25,241
	27,697		Kerry Group plc (Class A)		972
	31,000		Kikkoman Corp		354
	1,194,258		Kraft Foods, Inc (Class A)		40,104
	2,677	e	Lancaster Colony Corp		163
	23,161		McCormick & Co, Inc		1,069
	3,100		MEIJI Holdings Co Ltd		147
	13,000		Nippon Meat Packers, Inc		169
	39,000		Nisshin Seifun Group, Inc		509

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	14,500		Nissin Food Products Co Ltd	$	583
	28,800		Parmalat S.p.A.		61
	866,867		PepsiCo, Inc		53,659
	1,876	*	Ralcorp Holdings, Inc		144
	27,500		Saputo, Inc		1,083
	630,662		Sara Lee Corp		10,311
	11,700		Suedzucker AG.		332
	11,095	e	Tootsie Roll Industries, Inc		268
	1,630	*	TreeHouse Foods, Inc		101
	390,614		Unilever NV		12,364
	361,651		Unilever plc		11,328
	81,300		Viterra, Inc		800
	42,800		Yakult Honsha Co Ltd		1,335
	6,000		Yamazaki Baking Co Ltd		91
			TOTAL FOOD, BEVERAGE & TOBACCO		262,807
HEALTH CARE EQUIPMENT & SERVICES - 2.0%
	4,484	*,e	Accretive Health, Inc		95
	522,907		Aetna, Inc		19,008
	2,548	*	Align Technology, Inc		39
	1,123	*	Amerigroup Corp		44
	10,800	*	Amsurg Corp		243
	624,652		Baxter International, Inc		35,069
	353,130		Becton Dickinson & Co		25,891
	3,075	*	Brookdale Senior Living, Inc		39
	42,005	*	Centene Corp		1,204
	10,868		Chemed Corp		597
	169,846		Cigna Corp		7,123
	2,310	*	Conceptus, Inc		24
	1,930	*	Coventry Health Care, Inc		56
	3,100	*	Gen-Probe, Inc		177
	12,050	*	Greatbatch, Inc		241
	730	*	Haemonetics Corp		43
	11,364	*	Health Management Associates, Inc (Class A)		79
	1,538	*	Healthspring, Inc		56
	16,830	*	Henry Schein, Inc		1,044
	78,382		Hill-Rom Holdings, Inc		2,353
	3,907	*	HMS Holdings Corp		95
	92,876		Humana, Inc		6,755
	44,643	*,e	Idexx Laboratories, Inc		3,079
	1,200	*	Integra LifeSciences Holdings Corp		43
	4,500		Invacare Corp		104
	50,021	*	Inverness Medical Innovations, Inc		983
	31,590	*	Kinetic Concepts, Inc		2,081
	55,041	*	LifePoint Hospitals, Inc		2,017
	997	*	Magellan Health Services, Inc		48
	2,103	*,e	MAKO Surgical Corp		72
	1,760		Masimo Corp		38
	1,730	*	MedAssets, Inc		17
	256,594	*	Medco Health Solutions, Inc		12,032
	985,877		Medtronic, Inc		32,771
	45,847	*	Molina Healthcare, Inc		708

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	8,672	*	MWI Veterinary Supply, Inc	$	597
	1,976	*	NuVasive, Inc		34
	2,364	*	NxStage Medical, Inc		49
	69,800		Olympus Corp		2,154
	3,000	*	Omnicell, Inc		41
	10,603		Owens & Minor, Inc		302
	1,888	*	Palomar Medical Technologies, Inc		15
	90,384		Patterson Cos, Inc		2,588
	2,500	*,e	PSS World Medical, Inc		49
	599	e	Quality Systems, Inc		58
	25,322	*,e	Resmed, Inc		729
	1,120	*	Sirona Dental Systems, Inc		47
	46,000		STERIS Corp		1,346
	13,424	*,e	Sun Healthcare Group, Inc		36
	4,400		Suzuken Co Ltd		118
	6,200		Sysmex Corp		223
	502,396		WellPoint, Inc		32,795
	2,100	*	Wright Medical Group, Inc		38
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		195,487
HOUSEHOLD & PERSONAL PRODUCTS - 2.1%
	290,529		Avon Products, Inc		5,694
	9,680		Beiersdorf AG.		518
	75,009		Clorox Co		4,975
	363,264		Colgate-Palmolive Co		32,214
	42,402		Estee Lauder Cos (Class A)		3,725
	155		Henkel KGaA		7
	156,880		Henkel KGaA (Preference)		8,342
	82,007		Herbalife Ltd		4,396
	181,200		Kao Corp		5,047
	458,075		Kimberly-Clark Corp		32,528
	63,795		L’Oreal S.A.		6,223
	3,189	*,e	Medifast, Inc		52
	1,610	e	Nu Skin Enterprises, Inc (Class A)		65
	1,366,743		Procter & Gamble Co		86,351
	152,666		Reckitt Benckiser Group plc		7,735
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		197,872
INSURANCE - 3.3%
	313,064		ACE Ltd		18,972
	642,877		Aflac, Inc		22,469
	777	*	Alleghany Corp		224
	4,400	e	American Equity Investment Life Holding Co		39
	1,442,131		AMP Ltd		5,417
	62,888	*,e	Arch Capital Group Ltd		2,055
	3,203		Arthur J. Gallagher & Co		84
	126,789	e	Aspen Insurance Holdings Ltd		2,921
	421,903		Assicurazioni Generali S.p.A.		6,681
	111,091		Assurant, Inc		3,977
	18,354		Axis Capital Holdings Ltd		476
	869,787	*	Berkshire Hathaway, Inc (Class B)		61,790
	501,711		Chubb Corp		30,098

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	440,173	e	Cincinnati Financial Corp	$	11,590
	142,760		CNP Assurances		2,102
	1,000		Dai-ichi Mutual Life Insurance Co		1,034
	2,054		Delphi Financial Group, Inc (Class A)		44
	34,701		Delta Lloyd NV		548
	1,400	e	Donegal Group, Inc (Class A)		17
	2,400		Employers Holdings, Inc		31
	49,385		Endurance Specialty Holdings Ltd		1,686
	8,696		Everest Re Group Ltd		690
	3,539		First American Financial Corp		45
	756,481	*	Genworth Financial, Inc (Class A)		4,342
	1,200		Harleysville Group, Inc		71
	3,500	*	Hilltop Holdings, Inc		25
	515,327		Insurance Australia Group Ltd		1,492
	1,916		Kemper Corp		46
	401,153		Lincoln National Corp		6,270
	5,706	*	Markel Corp		2,038
	4,850		Meadowbrook Insurance Group, Inc		43
	71,400		Mitsui Sumitomo Insurance Group Holdings, Inc		1,553
	123,177	e	Montpelier Re Holdings Ltd		2,178
	71,286		Muenchener Rueckver AG.		8,853
	59,105	*	National Financial Partners Corp		647
	700	*	Navigators Group, Inc		30
	3,196,723		Old Mutual plc		5,187
	4,676		PartnerRe Ltd		244
	436,156	*,e	Phoenix Cos, Inc		532
	56,579	e	Platinum Underwriters Holdings Ltd		1,740
	2,297		Primerica, Inc		50
	382,849		Principal Financial Group		8,679
	1,316		ProAssurance Corp		95
	994,124		Progressive Corp		17,656
	32,117		Protective Life Corp		502
	576,474		Prudential Financial, Inc		27,014
	882,678		Prudential plc		7,580
	984		Reinsurance Group of America, Inc (Class A)		45
	749		RenaissanceRe Holdings Ltd		48
	1,421	e	RLI Corp		90
	1,472,546		Royal & Sun Alliance Insurance Group plc		2,534
	900		Safety Insurance Group, Inc		34
	2,400		Selective Insurance Group, Inc		31
	5,540		Stancorp Financial Group, Inc		153
	1,221,853		Standard Life plc		3,781
	5,924		Stewart Information Services Corp		52
	166,853		Swiss Re Ltd		7,827
	177,980		T&D Holdings, Inc		1,677
	514,630		Travelers Cos, Inc		25,078
	800		TrygVesta AS		42
	146,338		W.R. Berkley Corp		4,345
	233,049		XL Capital Ltd		4,381
			TOTAL INSURANCE		319,975

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
MATERIALS - 3.7%
	62,558		Agnico-Eagle Mines Ltd	$	3,740
	20,600		Agrium, Inc (Toronto)		1,371
	87,628		Air Liquide		10,233
	320,174		Air Products & Chemicals, Inc		24,451
	21,000		Air Water, Inc		260
	6,480		Airgas, Inc		414
	19,300		Akzo Nobel NV		852
	1,144,312		Alcoa, Inc		10,951
	75,375		Allegheny Technologies, Inc		2,788
	127,544	*	Allied Nevada Gold Corp		4,567
	1,174,917		Alumina Ltd		1,638
	126,578		AMCOL International Corp		3,037
	51,800		Amcor Ltd		343
	323,441		Antofagasta plc		4,618
	23,319		Aptargroup, Inc		1,042
	1,400		Arch Chemicals, Inc		66
	203,000		Asahi Kasei Corp		1,217
	40,985		Ball Corp		1,271
	102,010		BASF AG.		6,219
	99,179		Bemis Co, Inc		2,907
	579,533		BlueScope Steel Ltd		400
	82,856		Boliden AB		852
	55,036		Buckeye Technologies, Inc		1,327
	1,160		Carpenter Technology Corp		52
	1,187		Celanese Corp (Series A)		39
	2,372	*	Clearwater Paper Corp		81
	157,324		Cleveland-Cliffs, Inc		8,050
	138,860	*	Coeur d’Alene Mines Corp		2,977
	115,751		Commercial Metals Co		1,101
	10,420		Compass Minerals International, Inc		696
	295,427		CRH plc		4,565
	1,341	*	Crown Holdings, Inc		41
	12,000		Daido Steel Co Ltd		72
	12,126	e	Domtar Corp		827
	5,800		DSM NV		252
	1,468		Eastman Chemical Co		101
	429,143	e	Ecolab, Inc		20,980
	5,690	*	Ferro Corp		35
	147,823		Fletcher Building Ltd		865
	872,026		Fortescue Metals Group Ltd		3,642
	5,600		Franco-Nevada Corp		203
	60,065		Fresnillo plc		1,468
	74,210	*,e	General Moly, Inc		215
	1,052		Givaudan S.A.		820
	2,623		Globe Specialty Metals, Inc		38
	914		Greif, Inc (Class A)		39
	94,290		H.B. Fuller Co		1,718
	41,614		HeidelbergCement AG.		1,512
	44,000		Hitachi Metals Ltd		507
	2,400		Holmen AB (B Shares)		60
	900		Imerys S.A.		45
	49,200		Inmet Mining Corp		2,085

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	22,086		Innophos Holdings, Inc	$	881
	1,763		International Flavors & Fragrances, Inc		99
	206,873		International Paper Co		4,810
	48,900		JSR Corp		841
	77,699		K&S AG.		4,067
	38,000		Kaneka Corp		215
	381,800		Kinross Gold Corp		5,673
	251,000		Kobe Steel Ltd		419
	2,112	*	Kraton Polymers LLC		34
	58,000		Kuraray Co Ltd		791
	46,374		Linde AG.		6,205
	67,934		Lonmin plc		1,103
	110,738	*	Louisiana-Pacific Corp		565
	604,316		LyondellBasell Industries AF S.C.A		14,763
	102,901		MacArthur Coal Ltd		1,574
	673	e	Martin Marietta Materials, Inc		43
	233,556		MeadWestvaco Corp		5,735
	26,544		Minerals Technologies, Inc		1,308
	297,500		Mitsubishi Chemical Holdings Corp		2,018
	48,000		Mitsubishi Gas Chemical Co, Inc		295
	120,960		Mitsui Chemicals, Inc		405
	2,100		Myers Industries, Inc		21
	47,121		Nalco Holding Co		1,648
	2,220		Neenah Paper, Inc		31
	249,083		Newcrest Mining Ltd		8,210
	1,899,000		Nippon Steel Corp		5,447
	241,000		Nisshin Steel Co Ltd		430
	31,500		Nitto Denko Corp		1,240
	929,690		Norsk Hydro ASA		4,217
	6,330		Novozymes AS (B Shares)		900
	454,523		Nucor Corp		14,381
	1,370	*	OM Group, Inc		36
	656,677		OneSteel Ltd		770
	43,142		Orica Ltd		968
	21,100	*	Osisko Mining Corp		267
	34,763	*	Owens-Illinois, Inc		526
	151,025		Oxiana Ltd		1,345
	3,815		PolyOne Corp		41
	102,600		Potash Corp of Saskatchewan Toronto		4,455
	350,160		Praxair, Inc		32,732
	1,380		Quaker Chemical Corp		36
	4,600		Randgold Resources Ltd		447
	34,624		Rautaruukki Oyj		347
	31,400		Rexam plc		151
	17,160		Rock-Tenn Co (Class A)		835
	158,659	e	Royal Gold, Inc		10,164
	13,953		Salzgitter AG.		670
	850		Schnitzer Steel Industries, Inc (Class A)		31
	52,009		Sealed Air Corp		869
	92,200		Shin-Etsu Chemical Co Ltd		4,523
	218,201		Sigma-Aldrich Corp		13,483
	70,595		Sims Group Ltd		847

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	10,200		Solvay S.A.	$	960
	117,632		Sonoco Products Co		3,321
	67,100		Ssab Svenskt Stal AB (Series A)		498
	600		Stepan Co		40
	49,061	*,e	Stillwater Mining Co		417
	309,517		Stora Enso Oyj (R Shares)		1,812
	360,000		Sumitomo Chemical Co Ltd		1,389
	1,383,000		Sumitomo Metal Industries Ltd		2,866
	343,000		Sumitomo Metal Mining Co Ltd		4,541
	133,490		Svenska Cellulosa AB (B Shares)		1,625
	2,800		Syngenta AG.		728
	42,000		Taiyo Nippon Sanso Corp		292
	198,900		Teck Cominco Ltd		5,869
	74,000		Teijin Ltd		266
	74,966	e	Titanium Metals Corp		1,123
	305,000		Toray Industries, Inc		2,136
	41,000		Tosoh Corp		128
	117,300		Toyo Seikan Kaisha Ltd		1,775
	268,000		UBE Industries Ltd		891
	15,649		Umicore		567
	397,316	e	United States Steel Corp		8,745
	183,155		UPM-Kymmene Oyj		2,069
	44,044	*,e	US Gold Corp		177
	49,905		Valspar Corp		1,558
	107,455	e	Vulcan Materials Co		2,961
	10,800		Wausau Paper Corp		69
	1,211		Westlake Chemical Corp		42
	285,715		Worthington Industries, Inc		3,991
	665,023		Xstrata plc		8,398
	291,500		Yamana Gold, Inc		4,000
	10,500		Yamato Kogyo Co Ltd		275
	20,900		Yara International ASA		797
			TOTAL MATERIALS		363,888
MEDIA - 1.1%
	2,580		Arbitron, Inc		85
	134,210		British Sky Broadcasting plc		1,382
	224,812		Cablevision Systems Corp (Class A)		3,536
	4,766		Cinemark Holdings, Inc		90
	10,955	*	Clear Channel Outdoor Holdings, Inc (Class A)		103
	426,216	*,e	Discovery Communications, Inc (Class A)		16,035
	59,943	*	Discovery Communications, Inc (Class C)		2,107
	52,293	*,e	DreamWorks Animation SKG, Inc (Class A)		951
	22,077	*	Fisher Communications, Inc		493
	1,900	*	JC Decaux S.A.		47
	11,319		John Wiley & Sons, Inc (Class A)		503
	235,872	*	Journal Communications, Inc (Class A)		701
	13,713		Lagardere S.C.A.		337
	296,430	*,e	Liberty Global, Inc (Class A)		10,725
	1,406	*	Liberty Global, Inc (Series C)		49
	213,630	*,e	New York Times Co (Class A)		1,241
	551,411		Pearson plc		9,726

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	7,700		ProSiebenSat.1 Media AG.	$	135
	1,550		Scholastic Corp		43
	195,161		Thomson Corp (Toronto)		5,289
	423,286		Time Warner Cable, Inc		26,528
	44,025	*,e	Valassis Communications, Inc		825
	332,531	e	Virgin Media, Inc		8,097
	20,510	e	Washington Post Co (Class B)		6,706
	41,500		Wolters Kluwer NV		673
	683,960		WPP plc		6,335
			TOTAL MEDIA		102,742
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 4.8%
	988,831		Abbott Laboratories		50,569
	1,969	*	Acorda Therapeutics, Inc		39
	17,804	*	Affymetrix, Inc		87
	333,819	*	Agilent Technologies, Inc		10,433
	94,231	*,e	Akorn, Inc		736
	362,922		Allergan, Inc		29,898
	21,606	*,e	Amylin Pharmaceuticals, Inc		199
	128,768	*,e	Ariad Pharmaceuticals, Inc		1,132
	167,180		Astellas Pharma, Inc		6,311
	17,599	*	Auxilium Pharmaceuticals, Inc		264
	319,252	*	Biogen Idec, Inc		29,738
	400	*	Bio-Rad Laboratories, Inc (Class A)		36
	44,762		Biovail Corp (Toronto)		1,668
	1,388,434		Bristol-Myers Squibb Co		43,569
	56,411	*	Cepheid, Inc		2,190
	175,900		Chugai Pharmaceutical Co Ltd		2,980
	14,800		Dainippon Sumitomo Pharma Co Ltd		163
	17,000		Eisai Co Ltd		686
	126,084	*	Endo Pharmaceuticals Holdings, Inc		3,529
	29,826	*,e	Geron Corp		63
	882,488	*	Gilead Sciences, Inc		34,242
	910,580		GlaxoSmithKline plc		18,790
	4,270	*,e	Immunogen, Inc		47
	108,727	*,e	Incyte Corp		1,519
	1,332,909		Johnson & Johnson		84,920
	140,004	*	Life Technologies Corp		5,380
	1,771,101		Merck & Co, Inc		57,933
	6,709		Merck KGaA		550
	2,769	*	Momenta Pharmaceuticals, Inc		32
	243,310	*	Nektar Therapeutics		1,180
	83,237	*	Neurocrine Biosciences, Inc		498
	386,995		Novartis AG.		21,618
	122,745		Novo Nordisk AS (Class B)		12,242
	1,100	*	Onyx Pharmaceuticals, Inc		33
	170,097		PDL BioPharma, Inc		944
	85,316	*	Pharmasset, Inc		7,027
	73,809	*	Pozen, Inc		178
	27,366	*,e	Progenics Pharmaceuticals, Inc		157
	121,925		Roche Holding AG.		19,692
	82,005	*	Salix Pharmaceuticals Ltd		2,427

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	19,327	*,e	Sangamo Biosciences, Inc	$	84
	6,000		Santen Pharmaceutical Co Ltd		252
	1,297	*,e	Synta Pharmaceuticals Corp		4
	210,000		Takeda Pharmaceutical Co Ltd		9,960
	3,145		Techne Corp		214
	3,140	*,e	Theravance, Inc		63
	1,800		Tsumura & Co		57
	12,261	*	United Therapeutics Corp		460
	2,960	*,e	Viropharma, Inc		53
	88,049	*,e	Vivus, Inc		711
	69,588	*	Waters Corp		5,253
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		470,810
REAL ESTATE - 1.7%
	58,900		Aeon Mall Co Ltd		1,345
	305,502	e	AMB Property Corp		7,408
	2,745	e	American Campus Communities, Inc		102
	1,316,528	e	Annaly Capital Management, Inc		21,894
	102,526	e	Boston Properties, Inc		9,135
	203,840		British Land Co plc		1,501
	461,000		CapitaMall Trust		639
	150,071	*	CBRE Group, Inc		2,020
	147,500		CFS Gandel Retail Trust		248
	2,665	e	Colonial Properties Trust		48
	1,080	e	Corporate Office Properties Trust		24
	198,000		Daiwa House Industry Co Ltd		2,535
	2,106,899		DB RREEF Trust		1,661
	27,415	e	Digital Realty Trust, Inc		1,512
	5,432	e	Douglas Emmett, Inc		93
	199,314	e	Duke Realty Corp		2,093
	1,000	e	EastGroup Properties, Inc		38
	5,348	e	Equity One, Inc		85
	11,912	e	Federal Realty Investment Trust		982
	303,911	*,e	First Industrial Realty Trust, Inc		2,431
	5,289	*	Forest City Enterprises, Inc (Class A)		56
	2,600	e	Franklin Street Properties Corp		29
	1,200		Gecina S.A.		105
	749,235	e	General Growth Properties, Inc		9,066
	401,096		GPT Group (ASE)		1,206
	468,848		HCP, Inc		16,438
	79,545		Health Care REIT, Inc		3,723
	2,000	e	Healthcare Realty Trust, Inc		34
	687,813	e	Host Marriott Corp		7,525
	2,160		Jones Lang LaSalle, Inc		112
	2,723	e	Kilroy Realty Corp		85
	279,836		Land Securities Group plc		2,781
	4,206	e	LaSalle Hotel Properties		81
	50,800		Lend Lease Corp Ltd		341
	373,712		Liberty International plc		1,895
	49,180	e	Liberty Property Trust		1,432
	40,663	e	Macerich Co		1,733
	663,300		Macquarie Goodman Group		363

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	9,064	e	Medical Properties Trust, Inc	$	81
	16,084	e	Mid-America Apartment Communities, Inc		969
	666,732		Mirvac Group		733
	305,810		Mitsui Fudosan Co Ltd		4,832
	2,630	e	Piedmont Office Realty Trust, Inc		43
	5,168	e	Post Properties, Inc		180
	700		PS Business Parks, Inc		35
	269,490	e	RAIT Investment Trust		914
	13,556	e	Regency Centers Corp		479
	452,984		Segro plc		1,545
	291,283	e	Simon Property Group, Inc		32,034
	1,056,110		Stockland Trust Group		2,940
	18,945		Unibail		3,380
	41,092	e	Ventas, Inc		2,030
	154,489		Vornado Realty Trust		11,528
	3,131	e	Washington Real Estate Investment Trust		88
			TOTAL REAL ESTATE		164,610
RETAILING - 2.3%
	2,757	*	99 Cents Only Stores		51
	2,050	e	Aaron’s, Inc		52
	3,344		Advance Auto Parts, Inc		194
	96,138		American Eagle Outfitters, Inc		1,127
	13,226	*	Ann Taylor Stores Corp		302
	50,177	*	Autozone, Inc		16,016
	900	e	Barnes & Noble, Inc		11
	189,356	*	Bed Bath & Beyond, Inc		10,852
	330,055	e	Best Buy Co, Inc		7,690
	810	*,e	Blue Nile, Inc		29
	4,363	e	Bon-Ton Stores, Inc		22
	1,200	e	Buckle, Inc		46
	10,800		Canadian Tire Corp Ltd		587
	57,629	*	Carmax, Inc		1,374
	52,582		Chico’s FAS, Inc		601
	3,400		Christopher & Banks Corp		12
	2,648		Express Parent LLC		54
	12,500		Fast Retailing Co Ltd		2,239
	621		Finish Line, Inc (Class A)		12
	58,957		Foot Locker, Inc		1,184
	35,504	*,e	GameStop Corp (Class A)		820
	526,228		Gap, Inc		8,546
	1,053	*	Genesco, Inc		54
	325,183		Genuine Parts Co		16,520
	2,200		Haverty Furniture Cos, Inc		22
	235,289		Hennes & Mauritz AB (B Shares)		7,045
	38,989	*	HSN, Inc		1,292
	56,720		Inditex S.A.		4,842
	137,778	e	JC Penney Co, Inc		3,690
	417,700		Kingfisher plc		1,604
	331,100		Kohl’s Corp		16,257
	2,871,620		Li & Fung Ltd		4,792
	453,507	*	Liberty Media Holding Corp (Interactive A)		6,698

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	4,443	*	LKQ Corp	$	107
	1,266,461		Lowe’s Cos, Inc		24,494
	110,511		Macy’s, Inc		2,909
	58,500		Marks & Spencer Group plc		285
	3,280		Men’s Wearhouse, Inc		86
	107,339		Nordstrom, Inc		4,903
	94,621	*	Office Depot, Inc		195
	99,751	*	Orbitz Worldwide, Inc		216
	1,510	*,e	O’Reilly Automotive, Inc		101
	10,103	*,e	Overstock.com, Inc		94
	34,377		Petsmart, Inc		1,466
	9,430	*	Pier 1 Imports, Inc		92
	29,641	e	RadioShack Corp		344
	646	e	Ross Stores, Inc		51
	5,240	*	Sally Beauty Holdings, Inc		87
	1,800	*,e	Shoe Carnival, Inc		42
	1,065	*	Shutterfly, Inc		44
	651,537		Staples, Inc		8,665
	3,300		Stein Mart, Inc		21
	4,010	*,e	Talbots, Inc		11
	714,575		Target Corp		35,042
	43,291		Tiffany & Co		2,633
	448,527		TJX Companies, Inc		24,881
	1,220		Tractor Supply Co		76
	1,820	*	Ulta Salon Cosmetics & Fragrance, Inc		113
	13,577		Williams-Sonoma, Inc		418
	3,600		Yamada Denki Co Ltd		250
			TOTAL RETAILING		222,263
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.5%
	80,003	*	Advanced Energy Industries, Inc		690
	878,509	*	Advanced Micro Devices, Inc		4,463
	105,468		Analog Devices, Inc		3,296
	2,184,194		Applied Materials, Inc		22,606
	106,924		ASML Holding NV		3,697
	7,922	*	Cabot Microelectronics Corp		272
	1,100	*	Cymer, Inc		41
	2,699		Cypress Semiconductor Corp		40
	2,380	*	Diodes, Inc		43
	4,236	*	DSP Group, Inc		25
	114,773	*	Entegris, Inc		732
	7,010	*,e	GT Solar International, Inc		49
	7,300	*	Integrated Device Technology, Inc		38
	2,866,371		Intel Corp		61,139
	2,096	*	International Rectifier Corp		39
	687		Intersil Corp (Class A)		7
	4,049	*	IXYS Corp		44
	60,054	*	Lattice Semiconductor Corp		315
	27,338	*	LTX-Credence Corp		145
	3,840		Micrel, Inc		36
	2,671	*	Microsemi Corp		43
	22,650		MKS Instruments, Inc		492

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	512,131	*	Nvidia Corp	$	6,402
	2,006	*	Omnivision Technologies, Inc		28
	494,336	*,e	ON Semiconductor Corp		3,544
	1,300	e	Power Integrations, Inc		40
	4,329	*,e	Rambus, Inc		61
	62,756	*	RF Micro Devices, Inc		398
	21,400		Rohm Co Ltd		1,116
	9,021	*	Rudolph Technologies, Inc		60
	16,682	*	Sigma Designs, Inc		131
	67,220	*	Skyworks Solutions, Inc		1,206
	161,763		STMicroelectronics NV		1,057
	102,316	*,e	Sunpower Corp (Class A)		828
	39,236	*	Sunpower Corp (Class B)		288
	13,766	*,e	Teradyne, Inc		152
	1,303,416		Texas Instruments, Inc		34,736
	6,991	*	Triquint Semiconductor, Inc		35
	12,987	*	Ultratech, Inc		223
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		148,557
SOFTWARE & SERVICES - 4.3%
	642,698		Accenture plc		33,857
	501,307	*	Adobe Systems, Inc		12,117
	1,660	*	Advent Software, Inc		35
	4,609	*,e	Ansys, Inc		226
	3,260	*,e	AOL, Inc		39
	164,617	*	Autodesk, Inc		4,573
	9,500	*,e	Blackboard, Inc		424
	118,094		Broadridge Financial Solutions, Inc		2,378
	436,387		CA, Inc		8,470
	5,437	*	Cadence Design Systems, Inc		50
	9,300	*	CGI Group, Inc		175
	403,106	*	Cognizant Technology Solutions Corp (Class A)		25,275
	37,900		Computershare Ltd		270
	107,113	*	Compuware Corp		820
	7,569	*	Convergys Corp		71
	1,200		Dassault Systemes S.A.		85
	91,830		Earthlink, Inc		600
	2,100		EPIQ Systems, Inc		26
	27,189	*	Equinix, Inc		2,415
	1,098		Factset Research Systems, Inc		98
	1,845		Fair Isaac Corp		40
	16,994	*	Fortinet, Inc		285
	1,909		Global Payments, Inc		77
	130,226	*	Google, Inc (Class A)		66,985
	82,622	*	Informatica Corp		3,383
	566,626		International Business Machines Corp		99,177
	346,311	*	Intuit, Inc		16,430
	1,740		j2 Global Communications, Inc		47
	1,810	*	JDA Software Group, Inc		42
	24,926	*	Liquidity Services, Inc		799
	40,415	e	Marchex, Inc (Class B)		344
	1,488	*	NetSuite, Inc		40

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	14,350	*	NeuStar, Inc (Class A)	$	361
	165,999		NIC, Inc		1,901
	8,600		Nomura Research Institute Ltd		196
	104		NTT Data Corp		321
	1,000	*	Open Text Corp		52
	2,144,878		Oracle Corp		61,645
	183,802	*	Rackspace Hosting, Inc		6,275
	136,788	*	Salesforce.com, Inc		15,632
	214,240		SAP AG.		10,901
	5,918	*	Seachange International, Inc		46
	2,149	*	SolarWinds, Inc		47
	884,561	*	Symantec Corp		14,418
	17,553	*	Ultimate Software Group, Inc		820
	4,877	*,e	Unisys Corp		77
	1,942,321	*	Yahoo!, Inc		25,561
			TOTAL SOFTWARE & SERVICES		417,906
TECHNOLOGY HARDWARE & EQUIPMENT - 2.5%
	69,316	*	Acme Packet, Inc		2,952
	1,612		Adtran, Inc		43
	93,199	*,e	Aruba Networks, Inc		1,949
	11,531	*	Avid Technology, Inc		89
	24,158	*	Benchmark Electronics, Inc		314
	2,747	*	Blue Coat Systems, Inc		38
	36,913	*,e	Bookham, Inc		134
	20,000		Brother Industries Ltd		235
	3,303	*,e	Calix Networks, Inc		26
	223,500		Canon, Inc		10,148
	3,481,299		Cisco Systems, Inc		53,925
	4,800		Cognex Corp		130
	909	*	Coherent, Inc		39
	129,390	*	Cray, Inc		687
	1,951,461	*	Dell, Inc		27,613
	2,120	*	DG FastChannel, Inc		36
	3,605	*	DTS, Inc		90
	1,643,228	*	EMC Corp		34,491
	1,558	*	FEI Co		47
	85,335	*	Finisar Corp		1,497
	30,068	*,e	Flextronics International Ltd		169
	105,700		Fuji Folms Holdings Corp		2,457
	592,000		Fujitsu Ltd		2,792
	1,541,330		Hewlett-Packard Co		34,604
	20,200		Hexagon AB (B Shares)		263
	3,800		Hitachi High-Technologies Corp		76
	28,700	*	Ibiden Co Ltd		606
	10,802	*	Imation Corp		79
	6,100	*,e	Infinera Corp		47
	1,900	*	Ingram Micro, Inc (Class A)		31
	24,015	e	InterDigital, Inc		1,119
	22,664	*	Intevac, Inc		158
	23,831	*	IPG Photonics Corp		1,035
	1,920	*	Itron, Inc		57

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	3,197		Jabil Circuit, Inc	$	57
	118,500		Konica Minolta Holdings, Inc		813
	27,700		Kyocera Corp		2,316
	50,751	*	Lexmark International, Inc (Class A)		1,372
	1,068		Littelfuse, Inc		43
	4,248	e	Molex, Inc		87
	102,210	*	Motorola Mobility Holdings, Inc		3,861
	435,706		Motorola, Inc		18,256
	14,300		Murata Manufacturing Co Ltd		776
	2,100		National Instruments Corp		48
	3,405	*	Netgear, Inc		88
	1,185,120		Nokia Oyj		6,702
	40,700		Omron Corp		799
	69,596	*,e	Oplink Communications, Inc		1,054
	44,497		Plantronics, Inc		1,266
	1,420	*	Plexus Corp		32
	123,725	*	Polycom, Inc		2,273
	231,781	*,e	Power-One, Inc		1,043
	903,685	*	Quantum Corp		1,636
	112,997	*	Radisys Corp		692
	109,100	*	Research In Motion Ltd (Canada)		2,224
	163,000		Ricoh Co Ltd		1,366
	2,500	*	Rofin-Sinar Technologies, Inc		48
	1,300	*	Scansource, Inc		38
	61,177	*,e	STEC, Inc		620
	6,268	*	Super Micro Computer, Inc		79
	8,445		Sycamore Networks, Inc		152
	20,433	*,e	Synaptics, Inc		488
	20,700		TDK Corp		722
	3,608	*	Tech Data Corp		156
	232,684		Tellabs, Inc		998
	41,423	*	Trimble Navigation Ltd		1,390
	17,478	*	TTM Technologies, Inc		166
	4,068	*,e	Universal Display Corp		195
	2,422,726		Xerox Corp		16,886
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		246,718
TELECOMMUNICATION SERVICES - 1.8%
	805		AboveNet, Inc		43
	549,053	*	American Tower Corp (Class A)		29,538
	113,400		BCE, Inc		4,252
	768,106		CenturyTel, Inc		25,439
	161,417	*	Cincinnati Bell, Inc		499
	172,411	*	Crown Castle International Corp		7,012
	478,630		France Telecom S.A.		7,834
	1,863,120	e	Frontier Communications Corp		11,383
	894		KDDI Corp		6,155
	339,677	*	MetroPCS Communications, Inc		2,959
	2,950	*	Neutral Tandem, Inc		29
	186,511	*	NII Holdings, Inc (Class B)		5,026
	5,126		NTT DoCoMo, Inc		9,340
	219,990		Portugal Telecom SGPS S.A.		1,616

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	62,600		Rogers Communications, Inc (Class B)	$	2,143
	13,176	*	SBA Communications Corp (Class A)		454
	73,300		Softbank Corp		2,145
	3,798,264	*	Sprint Nextel Corp		11,547
	20,557		Swisscom AG.		8,363
	2,598,797		Telecom Italia S.p.A.		2,824
	39,400		Telekom Austria AG.		398
	160,922		Telenor ASA		2,482
	650,394		TeliaSonera AB		4,288
	65,455	*	tw telecom inc (Class A)		1,081
	2,448	*	US Cellular Corp		97
	8,691,163		Vodafone Group plc		22,400
	899,197	e	Windstream Corp		10,485
			TOTAL TELECOMMUNICATION SERVICES		179,832
TRANSPORTATION - 1.4%
	182,643		Abertis Infraestructuras S.A.		2,808
	800	e	Allegiant Travel Co		38
	1,490		Arkansas Best Corp		24
	639,647		Auckland International Airport Ltd		1,112
	99,778		Autostrade S.p.A.		1,435
	90,100		Canadian National Railway Co		6,021
	21,400		Canadian Pacific Railway Ltd		1,032
	1,324,000		Cathay Pacific Airways Ltd		2,161
	205		Central Japan Railway Co		1,789
	30,341		CH Robinson Worldwide, Inc		2,077
	1,783		Con-Way, Inc		39
	1,194,210		CSX Corp		22,296
	134,669		Deutsche Lufthansa AG.		1,746
	512,198		Deutsche Post AG.		6,558
	58,500		East Japan Railway Co		3,547
	28,564		Expeditors International Washington, Inc		1,158
	4,613		Fraport AG. Frankfurt Airport Services Worldwide		272
	3,772	*	Genesee & Wyoming, Inc (Class A)		175
	5,334	e	Heartland Express, Inc		72
	66,237	*	International Consolidated Airlines		156
	2,153		J.B. Hunt Transport Services, Inc		78
	62,434	*	Kansas City Southern Industries, Inc		3,119
	153,000		Kawasaki Kisen Kaisha Ltd		319
	41,000		Keihin Electric Express Railway Co Ltd		379
	56,000		Keio Corp		401
	1,947	*	Kirby Corp		102
	900		Landstar System, Inc		36
	61,000		Mitsui OSK Lines Ltd		235
	1,547,197		MTR Corp		4,631
	448,673		Norfolk Southern Corp		27,378
	102,900		Odakyu Electric Railway Co Ltd		978
	9,835		Ryder System, Inc		369
	799,390		Southwest Airlines Co		6,426
	75,337		TNT NV		330
	102,000		Tobu Railway Co Ltd		480
	228,000		Tokyu Corp		1,146

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	88,331		Transurban Group	$	459
	554,729		United Parcel Service, Inc (Class B)		35,031
	105,100		Yamato Transport Co Ltd		1,916
			TOTAL TRANSPORTATION		138,329
UTILITIES - 2.9%
	44,200		A2A S.p.A.		55
	5,000		Acciona S.A.		422
	18,848		AGL Energy Ltd		258
	165,887		Alliant Energy Corp		6,417
	1,762		American Water Works Co, Inc		53
	164,451	e	Atmos Energy Corp		5,336
	202,977	*	Calpine Corp		2,858
	9,100		Canadian Utilities Ltd		539
	289,986		Centerpoint Energy, Inc		5,690
	22,260		CH Energy Group, Inc		1,161
	39,500		Chugoku Electric Power Co, Inc		695
	409,210		Cleco Corp		13,970
	866,500		CLP Holdings Ltd		7,806
	469,772		Consolidated Edison, Inc		26,786
	166,707	*	Contact Energy Ltd		689
	25,568		DTE Energy Co		1,253
	6,900	*	EDP Renovaveis S.A.		38
	2,474	e	Empire District Electric Co		48
	287,258		Enel Green Power S.p.A		654
	306,059		Energias de Portugal S.A.		943
	161,985		Gas Natural SDG S.A.		2,755
	2,068,675		Hong Kong & China Gas Ltd		4,656
	987,020		Iberdrola S.A.		6,673
	338,496		Idacorp, Inc		12,788
	1,026	e	Integrys Energy Group, Inc		50
	825,769		International Power plc		3,920
	12,666		ITC Holdings Corp		981
	33,619		Laclede Group, Inc		1,303
	4,056		MDU Resources Group, Inc		78
	67,199		MGE Energy, Inc		2,733
	1,088,320		National Grid plc		10,787
	23,051		New Jersey Resources Corp		981
	527,446		NextEra Energy, Inc		28,492
	116,404		Nicor, Inc		6,403
	686,326		NiSource, Inc		14,674
	208,457		Northeast Utilities		7,015
	18,228	e	Northwest Natural Gas Co		804
	98,587		NSTAR		4,418
	491,736		NV Energy, Inc		7,233
	54,813		Oest Elektrizitatswirts AG. (Class A)		1,578
	62,308		Oneok, Inc		4,115
	1,420	e	Ormat Technologies, Inc		23
	897,000		Osaka Gas Co Ltd		3,727
	867,686		Pepco Holdings, Inc		16,417
	301,011		PG&E Corp		12,736
	198,786		Piedmont Natural Gas Co, Inc		5,743

395

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,185		Pinnacle West Capital Corp	$	51
	3,408		PNM Resources, Inc		56
	1,700		Portland General Electric Co		40
	402,270		PPL Corp		11,481
	455,571		Scottish & Southern Energy plc		9,142
	209,099		Sempra Energy		10,769
	6,800		Severn Trent plc		162
	23,900		Shikoku Electric Power Co, Inc		657
	30,331	e	SJW Corp		661
	354,000		Snam Rete Gas S.p.A.		1,634
	67,351		South Jersey Industries, Inc		3,351
	45,765		SP AusNet		41
	23,226		Suez Environnement S.A.		323
	2,793		TECO Energy, Inc		48
	179,100		Terna Rete Elettrica Nazionale S.p.A.		664
	722,790		Tokyo Gas Co Ltd		3,357
	9,800		TransAlta Corp		213
	1,736		UGI Corp		46
	1,300		Unisource Energy Corp		47
	16,600		United Utilities Group plc		161
	1,884		Vectren Corp		51
	67,641		Veolia Environnement		988
	1,978		Westar Energy, Inc		52
	59,711		WGL Holdings, Inc		2,333
	38,257		Wisconsin Energy Corp		1,197
	55,906		Xcel Energy, Inc		1,380
			TOTAL UTILITIES		285,659
			TOTAL COMMON STOCKS		5,724,707
			(Cost $5,569,594)
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	233,115	*	Federal Home Loan Mortgage Corp		466
	740,991	*	Federal National Mortgage Association		1,408
			TOTAL BANKS		1,874
			TOTAL PREFERRED STOCKS		1,874
			(Cost $24,353)
RIGHTS / WARRANTS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
	864,692		Banco Bilbao Vizcaya Argentaria S.A.		127
			TOTAL DIVERSIFIED FINANCIALS		127
			TOTAL RIGHTS / WARRANTS		127
			(Cost $118)

396

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 10.5%
GOVERNMENT AGENCY DEBT - 1.2%
		Federal Home Loan Mortgage Corp (FHLMC)
$	70,000,000	FHLMC	0.047	%	01/09/12	$	69,996
		Federal National Mortgage Association (FNMA)
	42,970,000	FNMA	0.020		12/28/11		42,968
		TOTAL GOVERNMENT AGENCY DEBT					112,964
TREASURY DEBT - 6.8%
	18,300,000	United States Treasury Bill	0.050		10/06/11		18,300
	17,000,000	United States Treasury Bill	0.055		10/20/11		17,000
	98,700,000	United States Treasury Bill	0.096		10/27/11		98,697
	28,370,000	United States Treasury Bill	0.065		11/03/11		28,368
	10,000,000	United States Treasury Bill	0.085		11/10/11		9,999
	9,000,000	United States Treasury Bill	0.105		11/25/11		8,999
	50,000,000	United States Treasury Bill	0.065		12/22/11		49,998
	17,000,000	United States Treasury Bill	0.032		02/23/12		16,998
	59,000,000	United States Treasury Bill	0.036		03/01/12		58,989
	125,000,000	United States Treasury Bill	0.041		03/29/12		124,965
	37,000,000	United States Treasury Bill	0.058		04/05/12		36,989
	60,000,000	United States Treasury Bill	0.037		05/03/12		59,976
	87,100,000	United States Treasury Bill	0.033		05/31/12		87,059
	50,000,000	United States Treasury Bill	0.050		06/28/12		49,968
		TOTAL TREASURY DEBT					666,305
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.5%
GOVERNMENT AGENCY DEBT - 1.1%
		Federal Home Loan Mortgage Corp (FHLMC)
	20,000,000	FHLMC	0.015		10/21/11		20,000
	30,000,000	FHLMC	0.030		11/21/11		29,999
	10,000,000	FHLMC	0.025		12/23/11		10,000
	30,000,000	FHLMC	0.065		01/09/12		29,998
		Federal National Mortgage Association (FNMA)
	16,500,000	FNMA	0.125		12/07/11		16,499
		TOTAL GOVERNMENT AGENCY DEBT					106,496
TREASURY DEBT - 1.4%
	8,000,000	United States Treasury Bill	0.055		10/13/11		8,000
	16,000,000	United States Treasury Bill	0.105		11/25/11		15,997
	12,000,000	United States Treasury Bill	0.022		12/01/11		12,000
	10,000,000	United States Treasury Bill	0.010		12/08/11		10,000
	10,000,000	United States Treasury Bill	0.145		12/15/11		10,000
	1,000,000	United States Treasury Bill	0.010		02/23/12		1,000
	47,000,000	United States Treasury Bill	0.036		05/03/12		46,981
	35,000,000	United States Treasury Bill	0.033		05/31/12		34,984
		TOTAL TREASURY DEBT					138,962
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED					245,458
		TOTAL SHORT-TERM INVESTMENTS					1,024,727
		(Cost $1,024,774)

397

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL	ISSUER	VALUE (000)
	TOTAL INVESTMENTS - 109.8%	$	10,699,558
	(Cost $10,379,797)
	OTHER ASSETS & LIABILITIES, NET - (9.8)%		(959,166	)
	NET ASSETS - 100.0%	$	9,740,392

*	Non-income producing.
^	Amount represents less than $1,000.
e	All or a portion of these securities are out on loan.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At September 30, 2011, the value of these securities amounted to $177,478,000 or 1.8% 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.

398

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND
MONEY MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2011

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 99.9%
BANKERS’ ACCEPTANCES - 0.2%
$	580,000	JPMorgan Chase Bank NA	0.210	%	10/17/11	$	580
	2,083,000	JPMorgan Chase Bank NA	0.240		11/17/11		2,082
	1,372,000	JPMorgan Chase Bank NA	0.290		02/10/12		1,371
	307,000	JPMorgan Chase Bank NA	0.290		02/29/12		307
	22,000,000	US Bank NA	0.350		02/14/12		21,970
		TOTAL BANKERS’ ACCEPTANCES					26,310
CERTIFICATE OF DEPOSIT - 4.4%
	25,000,000	Bank of Nova Scotia	0.170		10/18/11		25,000
	43,000,000	Bank of Nova Scotia	0.180		10/26/11		43,000
	50,000,000	Bank of Nova Scotia	0.180		10/27/11		50,000
	50,000,000	Bank of Nova Scotia	0.210		11/04/11		50,000
	50,000,000	Bank of Nova Scotia	0.210		11/04/11		50,000
	19,000,000	Bank of Nova Scotia	0.280		12/06/11		19,000
	25,000,000	Barclays Bank PLC	0.410		12/13/11		25,000
	10,000,000	BNP Paribas	0.470		11/01/11		10,000
	50,000,000	Canadian Imperial Bank of Commerce	0.160		11/08/11		50,000
	25,000,000	Royal Bank of Canada	0.260		01/13/12		25,000
	20,000,000	Toronto-Dominion Bank	0.170		10/12/11		20,000
	45,000,000	Toronto-Dominion Bank	0.170		10/19/11		45,000
	45,000,000	Toronto-Dominion Bank	0.160		10/25/11		45,000
	16,000,000	Toronto-Dominion Bank	0.240		11/28/11		16,000
	20,000,000	Toronto-Dominion Bank	0.270		12/09/11		20,000
	30,560,000	Toronto-Dominion Bank	0.210		01/10/12		30,560
	25,000,000	Toronto-Dominion Bank	0.200		01/23/12		25,000
		TOTAL CERTIFICATE OF DEPOSIT					548,560
COMMERCIAL PAPER - 37.4%
	18,550,000	Abbott Laboratories	0.050		10/04/11		18,550
	4,440,000	Australia & New Zealand Banking Group Ltd	0.235		11/23/11		4,438
	15,000,000	Australia & New Zealand Banking Group Ltd	0.270		12/21/11		14,991
	50,000,000	Bank of Montreal	0.200		11/02/11		49,991
	25,000,000	Bank of Montreal	0.140		12/01/11		24,994
	15,000,000	Bank of Nova Scotia	0.165		10/07/11		15,000
	12,500,000	Bank of Nova Scotia	0.175		10/11/11		12,499
	10,000,000	Bank of Nova Scotia	0.270		12/02/11		9,995
	10,000,000	Bank of Nova Scotia	0.280		12/23/11		9,994
	25,000,000	BNP Paribas Finance, Inc	0.230		10/03/11		25,000
	50,000,000	Canadian Imperial Holdings, Inc	0.140		10/04/11		49,998
	15,000,000	Coca-Cola Co	0.145		10/04/11		15,000
	4,770,000	Coca-Cola Co	0.180		11/03/11		4,769
	7,340,000	Coca-Cola Co	0.100		11/04/11		7,339
	15,000,000	Coca-Cola Co	0.130		11/07/11		14,998

399

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER		RATE		MATURITY DATE	VALUE (000)
$	20,000,000	Coca-Cola Co		0.150	%	11/08/11	$	19,997
	15,000,000	Coca-Cola Co		0.145		11/10/11		14,998
	10,000,000	Coca-Cola Co		0.100		11/14/11		9,999
	20,000,000	Coca-Cola Co		0.130		11/15/11		19,997
	10,200,000	Coca-Cola Co		0.100		11/29/11		10,198
	50,000,000	Coca-Cola Co		0.150		12/07/11		49,986
	10,000,000	Coca-Cola Co		0.130		12/09/11		9,998
	10,000,000	Coca-Cola Co		0.130		12/12/11		9,997
	10,000,000	Coca-Cola Co		0.140		12/13/11		9,997
	34,350,000	Coca-Cola Co	0.120 - 0.125			12/20/11		34,341
	12,675,000	Coca-Cola Co		0.170		01/05/12		12,669
	40,000,000	Coca-Cola Co		0.170		01/13/12		39,980
	4,393,000	Coca-Cola Co		0.160		01/17/12		4,391
	10,750,000	Coca-Cola Co		0.180		02/02/12		10,743
	19,530,000	Coca-Cola Co		0.200		03/05/12		19,513
	30,000,000	Colgate-Palmolive Co		0.030		10/21/11		30,000
	31,960,000	Commonwealth Bank of Australia	0.150 - 0.180			10/14/11		31,958
	40,000,000	Commonwealth Bank of Australia		0.220		11/04/11		39,992
	20,000,000	Commonwealth Bank of Australia		0.270		11/28/11		19,991
	20,000,000	Commonwealth Bank of Australia		0.275		12/02/11		19,991
	30,000,000	Commonwealth Bank of Australia		0.275		12/06/11		29,985
	11,960,000	Commonwealth Bank of Australia	0.275 - 0.280			12/07/11		11,954
	16,417,000	Commonwealth Bank of Australia		0.275		12/09/11		16,408
	4,860,000	Commonwealth Bank of Australia		0.390		02/23/12		4,852
	26,600,000	Fairway Finance LLC		0.160		10/12/11		26,599
	25,000,000	Fairway Finance LLC		0.190		10/13/11		24,998
	15,000,000	Fairway Finance LLC		0.200		10/18/11		14,999
	27,236,000	Fairway Finance LLC		0.170		10/25/11		27,233
	35,675,000	Fairway Finance LLC		0.170		10/28/11		35,670
	12,900,000	Fairway Finance LLC		0.200		11/01/11		12,898
	7,095,000	Fairway Finance LLC		0.190		11/14/11		7,093
	15,000,000	Fairway Finance LLC		0.190		11/22/11		14,996
	22,018,000	Fairway Finance LLC		0.230		12/07/11		22,009
	25,000,000	Falcon Asset Securitization Co LLC		0.200		10/03/11		25,000
	25,000,000	Falcon Asset Securitization Co LLC		0.160		10/04/11		25,000
	30,700,000	Falcon Asset Securitization Co LLC		0.180		10/06/11		30,699
	35,750,000	Falcon Asset Securitization Co LLC		0.150		10/11/11		35,749
	24,735,000	Falcon Asset Securitization Co LLC		0.150		10/14/11		24,734
	20,000,000	General Electric Capital Corp		0.190		10/11/11		19,999
	50,000,000	General Electric Capital Corp		0.120		10/24/11		49,996
	40,000,000	General Electric Capital Corp		0.170		11/28/11		39,989
	30,700,000	General Electric Capital Corp		0.150		12/05/11		30,692
	40,000,000	General Electric Capital Corp		0.300		02/27/12		39,950
	49,000,000	General Electric Capital Corp		0.300		02/28/12		48,939
	9,552,000	General Electric Capital Corp		3.500		08/13/12		9,780
	20,000,000	General Electric Co		0.150		12/22/11		19,993
	50,000,000	General Electric Co		0.140		12/29/11		49,983
	24,000,000	Johnson & Johnson		0.090		10/18/11		23,999
	33,775,000	Johnson & Johnson		0.050		10/20/11		33,774
	40,000,000	Johnson & Johnson		0.090		12/19/11		39,992
	15,000,000	JPMorgan Chase & Co		0.100		10/11/11		15,000
	18,410,000	Jupiter Securitization Co LLC	0.030 - 0.170			10/03/11		18,410
	50,000,000	Jupiter Securitization Co LLC		0.170		10/05/11		49,998

400

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER		RATE		MATURITY DATE	VALUE (000)
$	10,000,000	Jupiter Securitization Co LLC		0.160	%	10/12/11	$	10,000
	22,800,000	Jupiter Securitization Co LLC		0.160		10/13/11		22,799
	9,000,000	Jupiter Securitization Co LLC		0.160		10/14/11		8,999
	5,000,000	Jupiter Securitization Co LLC		0.180		11/01/11		4,999
	50,000,000	Jupiter Securitization Co LLC		0.160		11/02/11		49,993
	42,000,000	Jupiter Securitization Co LLC		0.200		11/04/11		41,992
	20,000,000	Jupiter Securitization Co LLC		0.210		11/08/11		19,996
	13,050,000	Jupiter Securitization Co LLC		0.210		11/10/11		13,047
	50,000,000	Jupiter Securitization Co LLC		0.210		12/13/11		49,979
	30,000,000	National Australia Funding (Delaware)	0.175 - 0.200			10/03/11		30,000
	22,350,000	National Australia Funding (Delaware)		0.270		12/06/11		22,339
	14,300,000	National Australia Funding (Delaware)		0.200		12/19/11		14,294
	4,081,000	National Australia Funding (Delaware)		0.310		01/03/12		4,078
	15,000,000	National Australia Funding(Delaware)		0.200		10/05/11		15,000
	25,000,000	National Australia Funding(Delaware)		0.195		10/06/11		24,999
	20,000,000	National Australia Funding(Delaware)		0.190		10/24/11		19,998
	50,000,000	National Australia Funding(Delaware)		0.205		11/01/11		49,991
	4,400,000	National Australia Funding(Delaware)		0.250		12/15/11		4,398
	20,000,000	National Australia Funding(Delaware)		0.315		01/09/12		19,983
	22,000,000	Nestle Capital Corp		0.240		10/03/11		22,000
	40,000,000	Nestle Capital Corp		0.125		10/12/11		39,998
	22,000,000	Nestle Capital Corp		0.125		10/13/11		21,999
	40,000,000	Nestle Capital Corp		0.120		10/24/11		39,997
	10,000,000	Nestle Capital Corp		0.120		11/03/11		9,999
	10,000,000	Nestle Capital Corp		0.080		11/04/11		9,999
	33,000,000	Nestle Capital Corp		0.150		11/09/11		32,995
	10,000,000	Nestle Capital Corp		0.150		11/15/11		9,998
	13,165,000	Nestle Capital Corp		0.150		11/16/11		13,162
	10,000,000	Nestle Capital Corp		0.130		11/22/11		9,998
	3,000,000	Nestle Capital Corp		0.125		11/29/11		2,999
	50,000,000	Nestle Capital Corp		0.170		11/30/11		49,986
	1,250,000	Nestle Capital Corp		0.090		12/05/11		1,250
	10,000,000	Nestle Capital Corp		0.195		01/09/12		9,995
	9,600,000	Nestle Capital Corp		0.190		02/28/12		9,593
	10,000,000	Nestle Capital Corp		0.160		03/01/12		9,993
	35,000,000	Novartis Finance Corp	0.100 - 0.260			10/11/11		34,999
	38,000,000	Novartis Finance Corp	0.100 - 0.110			10/14/11		37,999
	50,000,000	Old Line Funding LLC		0.170		10/05/11		49,998
	17,000,000	Old Line Funding LLC		0.170		10/14/11		16,999
	44,300,000	Old Line Funding LLC		0.170		10/17/11		44,296
	10,778,000	Old Line Funding LLC		0.170		10/18/11		10,777
	9,000,000	Old Line Funding LLC		0.190		10/26/11		8,999
	17,000,000	Old Line Funding LLC		0.250		11/01/11		16,996
	10,000,000	Old Line Funding LLC		0.200		11/14/11		9,998
	22,000,000	Old Line Funding LLC		0.205		11/16/11		21,994
	11,000,000	Old Line Funding LLC		0.220		11/22/11		10,997
	25,841,000	Old Line Funding LLC	0.190 - 0.220			12/08/11		25,830
	20,000,000	Old Line Funding LLC		0.220		12/16/11		19,991
	38,035,000	Old Line Funding LLC		0.220		12/21/11		38,016
	30,000,000	Private Export Funding Corp	0.150 - 0.170			10/04/11		30,000
	12,445,000	Private Export Funding Corp		0.120		10/05/11		12,445
	12,550,000	Private Export Funding Corp		0.150		10/06/11		12,550
	25,000,000	Private Export Funding Corp		0.150		10/24/11		24,998

401

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER		RATE		MATURITY DATE	VALUE (000)
$	23,000,000	Private Export Funding Corp		0.150	%	10/27/11	$	22,998
	25,000,000	Private Export Funding Corp		0.150		11/07/11		24,996
	20,000,000	Private Export Funding Corp		0.140		11/08/11		19,997
	40,000,000	Private Export Funding Corp		0.130		11/09/11		39,994
	51,000,000	Private Export Funding Corp	0.170 - 0.190			11/15/11		50,987
	10,375,000	Private Export Funding Corp		0.150		11/22/11		10,373
	24,200,000	Private Export Funding Corp	0.170 - 0.190			11/29/11		24,193
	15,000,000	Private Export Funding Corp		0.200		12/01/11		14,995
	20,000,000	Private Export Funding Corp		0.165		12/14/11		19,993
	58,925,000	Procter & Gamble Co	0.100 - 0.120			10/11/11		58,922
	29,896,000	Procter & Gamble Co		0.100		10/17/11		29,895
	50,000,000	Procter & Gamble Co		0.100		10/19/11		49,998
	30,000,000	Procter & Gamble Co		0.040		10/31/11		29,999
	42,500,000	Procter & Gamble Co		0.115		11/03/11		42,496
	24,750,000	Procter & Gamble Co	0.110 - 0.150			11/07/11		24,747
	750,000	Procter & Gamble Co		0.100		11/14/11		750
	25,000,000	Procter & Gamble Co		0.160		12/02/11		24,993
	22,460,000	Procter & Gamble Co		0.150		12/05/11		22,454
	16,000,000	Procter & Gamble Co		0.170		12/12/11		15,995
	4,803,000	Procter & Gamble Co		0.110		12/14/11		4,802
	14,300,000	Province of Ontario Canada		0.090		10/07/11		14,300
	48,750,000	Province of Ontario Canada		0.100		10/14/11		48,748
	28,100,000	Province of Ontario Canada		0.120		10/25/11		28,098
	50,000,000	Province of Ontario Canada		0.090		11/07/11		49,995
	50,000,000	Province of Ontario Canada		0.090		11/16/11		49,994
	33,850,000	Province of Ontario Canada	0.100 - 0.110			12/02/11		33,844
	40,000,000	Royal Bank of Canada		0.130		11/21/11		39,993
	9,782,000	Royal Bank of Canada		0.140		11/28/11		9,780
	42,355,000	Royal Bank of Canada	0.150 - 0.160			12/27/11		42,339
	25,000,000	Sheffield Receivables Corp		0.190		10/05/11		24,999
	10,000,000	Sheffield Receivables Corp		0.180		10/20/11		9,999
	25,000,000	Sheffield Receivables Corp		0.200		10/21/11		24,997
	37,000,000	Sheffield Receivables Corp		0.250		10/24/11		36,994
	8,300,000	Sheffield Receivables Corp		0.180		10/27/11		8,299
	19,704,000	Straight-A Funding LLC		0.160		10/03/11		19,704
	29,385,000	Straight-A Funding LLC		0.160		10/04/11		29,385
	9,000,000	Straight-A Funding LLC		0.160		10/04/11		9,000
	13,400,000	Straight-A Funding LLC		0.160		10/05/11		13,400
	35,000,000	Straight-A Funding LLC		0.470		10/05/11		34,998
	10,000,000	Straight-A Funding LLC		0.160		10/07/11		10,000
	20,000,000	Straight-A Funding LLC		0.160		10/07/11		19,999
	45,000,000	Straight-A Funding LLC		0.160		10/11/11		44,998
	6,000,000	Straight-A Funding LLC		0.130		10/26/11		5,999
	28,000,000	Straight-A Funding LLC		0.190		11/08/11		27,994
	20,000,000	Straight-A Funding LLC		0.190		11/08/11		19,996
	22,000,000	Straight-A Funding LLC		0.190		11/10/11		21,995
	12,716,000	Straight-A Funding LLC		0.190		11/14/11		12,713
	15,000,000	Straight-A Funding LLC		0.190		11/18/11		14,996
	48,230,000	Straight-A Funding LLC		0.190		12/01/11		48,214
	28,000,000	Straight-A Funding LLC		0.180		12/06/11		27,991
	16,000,000	Straight-A Funding LLC		0.190		12/12/11		15,994
	15,000,000	Straight-A Funding LLC		0.190		12/16/11		14,994
	7,000,000	Straight-A Funding LLC		0.190		12/22/11		6,997

402

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER		RATE		MATURITY DATE	VALUE (000)
$	20,000,000	Toronto-Dominion Holdings USA, Inc		0.200	%	11/18/11	$	19,995
	15,000,000	Toronto-Dominion Holdings USA, Inc		0.200		11/23/11		14,996
	10,000,000	Toronto-Dominion Holdings USA, Inc		0.210		12/20/11		9,995
	20,000,000	Toronto-Dominion Holdings USA, Inc		0.220		12/28/11		19,989
	22,000,000	Toronto-Dominion Holdings USA, Inc		0.215		12/30/11		21,988
	4,000,000	United Parcel Service, Inc		0.040		11/01/11		4,000
	50,000,000	Variable Funding Capital Co LLC		0.170		10/03/11		49,999
	69,000,000	Variable Funding Capital Co LLC		0.170		10/20/11		68,993
	50,000,000	Variable Funding Capital Co LLC	0.170 - 0.200			10/25/11		49,994
	34,500,000	Variable Funding Capital Co LLC		0.180		10/26/11		34,496
	17,000,000	Variable Funding Capital Co LLC		0.130		10/31/11		16,998
	25,000,000	Variable Funding Capital Co LLC		0.210		12/16/11		24,989
	25,000,000	Wal-Mart Stores, Inc		0.070		10/04/11		25,000
	20,000,000	Wal-Mart Stores, Inc		0.060		10/11/11		20,000
	9,158,000	Wal-Mart Stores, Inc		0.080		10/13/11		9,158
	25,000,000	Wal-Mart Stores, Inc		0.090		10/27/11		24,998
	36,000,000	Wal-Mart Stores, Inc		0.090		11/08/11		35,997
	25,000,000	Wal-Mart Stores, Inc		0.090		11/15/11		24,997
	2,000,000	Wal-Mart Stores, Inc		0.060		11/21/11		2,000
	28,000,000	Westpac Banking Corp	0.030 - 0.250			10/06/11		28,000
	30,000,000	Westpac Banking Corp	0.270 - 0.275			12/08/11		29,985
	25,000,000	Westpac Banking Corp		0.300		01/03/12		24,980
	30,000,000	Westpac Banking Corp		0.350		01/11/12		29,970
	10,000,000	Westpac Banking Corp		0.375		02/10/12		9,986
		TOTAL COMMERCIAL PAPER						4,683,215
FOREIGN GOVERNMENT BONDS - 0.1%
	17,600,000	Province of Ontario Canada		2.630		01/20/12		17,715
		TOTAL FOREIGN GOVERNMENT BONDS						17,715
GOVERNMENT AGENCY DEBT - 28.5%
		Federal Farm Credit Bank (FFCB)
	4,500,000	FFCB		0.100		11/15/11		4,499
		Federal Home Loan Bank (FHLB)
	86,006,000	FHLB	0.045 - 0.060			10/07/11		86,005
	4,200,000	FHLB		0.060		10/12/11		4,200
	6,500,000	FHLB		0.100		10/14/11		6,500
	50,000,000	FHLB		0.170		10/17/11		49,996
	106,403,000	FHLB		0.055		10/19/11		106,400
	4,230,000	FHLB		0.060		10/20/11		4,230
	104,805,000	FHLB	0.065 - 0.200			10/21/11		104,794
	51,300,000	FHLB	0.035 - 0.170			10/24/11		51,295
	20,000,000	FHLB		0.010		10/25/11		20,000
	61,215,000	FHLB	0.011 - 0.060			10/26/11		61,213
	50,000,000	FHLB		0.015		10/28/11		49,999
	20,000,000	FHLB		0.030		11/02/11		19,999
	5,000,000	FHLB		0.011		11/03/11		5,000
	12,585,000	FHLB		0.050		11/04/11		12,585
	4,000,000	FHLB		0.040		11/14/11		4,000
	44,300,000	FHLB	0.025 - 0.030			11/16/11		44,298
	111,000,000	FHLB	0.010 - 0.030			11/18/11		110,995
	57,413,000	FHLB	0.025 - 0.070			11/23/11		57,410
	50,000,000	FHLB		0.130		11/28/11		49,990

403

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER		RATE		MATURITY DATE	VALUE (000)
$	31,700,000	FHLB	0.020 - 0.040		%	12/02/11	$	31,699
	17,715,000	FHLB		0.040		12/07/11		17,714
	71,169,000	FHLB	0.023 - 0.040			12/09/11		71,165
	20,000,000	FHLB		0.045		12/14/11		19,998
	16,210,000	FHLB		0.040		12/16/11		16,209
	22,000,000	FHLB		0.020		12/21/11		21,999
	52,425,000	FHLB	0.024 - 0.030			12/23/11		52,422
	4,300,000	FHLB		0.110		01/06/12		4,299
	2,205,000	FHLB		0.100		02/03/12		2,204
	14,681,000	FHLB		0.120		02/10/12		14,675
	13,470,000	FHLB		0.105		03/01/12		13,464
		Federal Home Loan Mortgage Corp (FHLMC)
	12,760,000	FHLMC		0.170		10/04/11		12,760
	75,440,000	FHLMC	0.040 - 0.100			10/06/11		75,439
	3,600,000	FHLMC		0.075		10/11/11		3,600
	30,000,000	FHLMC	0.040 - 0.070			10/12/11		30,000
	62,775,000	FHLMC	0.045 - 0.055			10/17/11		62,774
	10,400,000	FHLMC	0.060 - 0.070			10/18/11		10,400
	11,520,000	FHLMC		0.070		10/19/11		11,520
	40,000,000	FHLMC	0.011 - 0.060			10/20/11		39,999
	3,024,000	FHLMC		0.011		10/31/11		3,024
	79,222,000	FHLMC	0.011 - 0.060			11/02/11		79,220
	4,443,000	FHLMC	0.080 - 0.290			11/04/11		4,442
	14,548,000	FHLMC		0.050		11/07/11		14,547
	109,275,000	FHLMC	0.030 - 0.065			11/14/11		109,267
	6,300,000	FHLMC		0.030		11/15/11		6,300
	81,000,000	FHLMC	0.025 - 0.035			11/22/11		80,996
	50,000,000	FHLMC		0.025		11/29/11		49,998
	11,136,000	FHLMC		0.040		12/01/11		11,135
	108,940,000	FHLMC	0.040 - 0.060			12/05/11		108,931
	9,000,000	FHLMC		0.090		12/12/11		8,998
	75,675,000	FHLMC	0.040 - 0.090			12/20/11		75,665
	24,000,000	FHLMC	0.095 - 0.130			12/21/11		23,994
	77,637,000	FHLMC	0.025 - 0.040			12/27/11		77,631
	40,000,000	FHLMC	0.055 - 0.080			12/28/11		39,993
	4,444,000	FHLMC		0.080		01/10/12		4,443
	16,000,000	FHLMC		0.100		02/07/12		15,994
	9,150,000	FHLMC		0.110		02/13/12		9,146
	10,000,000	FHLMC		0.050		02/14/12		9,998
	9,615,000	FHLMC		0.100		02/21/12		9,611
	43,500,000	FHLMC		0.100		02/23/12		43,482
	30,000,000	FHLMC		0.110		03/05/12		29,986
	7,950,000	FHLMC		0.080		03/14/12		7,947
	64,810,000	FHLMC	0.085 - 0.090			03/19/12		64,784
	25,000,000	FHLMC		0.085		03/26/12		24,990
	10,375,000	FHLMC		0.115		03/27/12		10,369
	6,800,000	FHLMC		0.160		05/18/12		6,793
	50,000,000	FHLMC		0.120		01/30/12		49,980
		Federal National Mortgage Association (FMNA)
	14,300,000	FNMA		0.011		11/14/11		14,300
	1,275,000	FNMA		0.180		07/02/12		1,273
	50,908,000	FNMA	0.045 - 0.100			10/03/11		50,908
	16,990,000	FNMA	0.050 - 0.100			10/04/11		16,990

404

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER		RATE		MATURITY DATE	VALUE (000)
$	19,400,000	FNMA		0.050	%	10/06/11	$	19,400
	1,410,000	FNMA		0.050		10/11/11		1,410
	105,655,000	FNMA	0.045 - 0.070			10/12/11		105,653
	9,200,000	FNMA		0.060		10/20/11		9,200
	50,000,000	FNMA		0.060		10/21/11		49,998
	9,635,000	FNMA	0.035 - 0.050			10/24/11		9,635
	26,697,000	FNMA	0.010 - 0.120			10/26/11		26,695
	2,610,000	FNMA		0.015		10/28/11		2,610
	28,900,000	FNMA		0.050		11/02/11		28,899
	107,000,000	FNMA		0.200		11/03/11		106,980
	36,560,000	FNMA	0.025 - 0.050			11/07/11		36,559
	6,500,000	FNMA		0.120		11/09/11		6,499
	41,360,000	FNMA	0.030 - 0.065			11/10/11		41,358
	84,500,000	FNMA	0.065 - 0.080			11/16/11		84,493
	3,400,000	FNMA		0.090		11/21/11		3,400
	48,555,000	FNMA	0.040 - 0.105			11/23/11		48,551
	5,716,000	FNMA		0.070		11/28/11		5,715
	17,925,000	FNMA	0.015 - 0.035			12/01/11		17,924
	13,850,000	FNMA		0.020		12/02/11		13,850
	6,000,000	FNMA		0.090		12/05/11		5,999
	101,770,000	FNMA	0.110 - 0.125			12/07/11		101,749
	33,619,000	FNMA		0.040		12/14/11		33,616
	6,000,000	FNMA		0.090		12/16/11		5,999
	80,000,000	FNMA	0.040 - 0.045			12/19/11		79,992
	30,721,000	FNMA	0.015 - 0.020			12/21/11		30,720
	39,977,000	FNMA		0.020		12/28/11		39,975
	10,000,000	FNMA		0.050		01/03/12		9,999
	44,477,000	FNMA	0.050 - 0.120			01/04/12		44,467
	11,330,000	FNMA		0.120		01/17/12		11,326
	16,600,000	FNMA		0.120		01/18/12		16,598
	10,000,000	FNMA		0.120		01/25/12		9,996
	30,189,000	FNMA	0.120 - 0.125			02/01/12		30,176
	56,500,000	FNMA	0.105 - 0.115			02/22/12		56,475
	5,000,000	FNMA		0.160		03/06/12		4,997
	1,112,000	FNMA		0.160		03/30/12		1,111
	25,000,000	FNMA		0.150		05/03/12		24,978
	13,080,000	FNMA		0.150		06/01/12		13,067
		TOTAL GOVERNMENT AGENCY DEBT						3,570,952
TREASURY DEBT - 15.8%
	35,000,000	United States Treasury Bill		0.060		10/06/11		35,000
	86,100,000	United States Treasury Bill	0.025 - 0.107			10/13/11		86,098
	53,840,000	United States Treasury Bill	0.066 - 0.111			10/20/11		53,837
	57,670,000	United States Treasury Bill	0.075 - 0.090			11/10/11		57,665
	168,815,000	United States Treasury Bill	0.090 - 0.243			11/17/11		168,790
	58,860,000	United States Treasury Bill	0.096 - 0.105			11/25/11		58,851
	64,710,000	United States Treasury Bill	0.085 - 0.100			12/01/11		64,702
	9,750,000	United States Treasury Bill		0.065		12/08/11		9,749
	42,000,000	United States Treasury Bill	0.008 - 0.078			12/22/11		41,995
	25,000,000	United States Treasury Bill	0.100 - 0.105			12/29/11		24,994
	3,250,000	United States Treasury Bill		0.050		01/12/12		3,250
	149,195,000	United States Treasury Note		1.000		10/31/11		149,297
	158,245,000	United States Treasury Note		0.750		11/30/11		158,391

405

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	121,815,000		United States Treasury Note	1.130	%	12/15/11	$	122,042
	49,725,000		United States Treasury Note	1.000		12/31/11		49,845
	102,025,000		United States Treasury Note	1.130		01/15/12		102,329
	104,685,000		United States Treasury Note	0.880		01/31/12		104,907
	61,320,000		United States Treasury Note	1.380		02/15/12		61,579
	100,085,000		United States Treasury Note	0.880		02/29/12		100,379
	4,600,000		United States Treasury Note	1.380		03/15/12		4,626
	7,025,000		United States Treasury Note	1.000		03/31/12		7,052
	93,205,000		United States Treasury Note	1.000		04/30/12		93,663
	24,845,000		United States Treasury Note	1.380		05/15/12		25,041
	113,835,000		United States Treasury Note	0.750		05/31/12		114,255
	91,220,000		United States Treasury Note	1.880		06/15/12		92,348
	77,125,000		United States Treasury Note	0.630		06/30/12		77,430
	73,470,000		United States Treasury Note	1.500		07/15/12		74,271
	34,900,000		United States Treasury Note	0.630		07/31/12		35,049
			TOTAL TREASURY DEBT					1,977,435
VARIABLE RATE SECURITY - 13.5%
			Federal Farm Credit Bank (FFCB)
	90,000,000	i	FFCB	0.150		02/13/12		89,998
	20,000,000	i	FFCB	0.110		01/28/13		19,971
	44,800,000	i	FFCB	0.225		03/28/13		44,800
	25,050,000	i	FFCB	0.235		06/12/13		25,054
	32,435,000	i	FFCB	0.290		06/26/13		32,469
	69,750,000	i	FFCB	0.320		08/19/13		69,683
	45,000,000	i	FFCB	0.220		08/26/13		44,957
	36,290,000	i	FFCB	0.280		08/26/13		36,283
	100,000,000	i	FFCB	0.300		09/23/13		99,992
			Federal Home Loan Bank (FHLB)
	170,000,000	i	FHLB	0.160		01/13/12		170,003
	45,000,000	i	FHLB	0.140		07/02/12		45,000
	50,000,000	i	FHLB	0.120		07/20/12		50,000
	100,000,000	i	FHLB	0.260		02/22/13		100,000
	55,000,000	i	FHLB	0.260		03/08/13		54,996
	100,000,000	i	FHLB	0.270		08/16/13		100,000
			Federal Home Loan Mortgage Corp (FHLMC)
	27,400,000	i	FHLMC	0.220		11/07/11		27,402
	151,500,000	i	FHLMC	0.070		11/09/11		151,489
	100,000,000	i	FHLMC	0.240		01/09/12		100,021
	144,500,000	i	FHLMC	0.170		02/04/13		144,428
	22,070,000	i	FHLMC	0.170		05/06/13		22,052
			Federal National Mortgage Association (FNMA)
	44,700,000	i	FNMA	0.180		03/14/13		44,681
	30,000,000	i	Bank of Nova Scotia	0.280		02/17/12		30,000
	50,000,000	i	Canadian Imperial Bank of Commerce	0.310		03/08/12		50,000
	40,000,000	i	Royal Bank of Canada	0.340		01/27/12		40,008
	90,000,000	i	Royal Bank of Canada	0.290		07/11/12		90,000
			TOTAL VARIABLE RATE SECURITY					1,683,287
			TOTAL SHORT-TERM INVESTMENTS					12,507,474
			(Cost $12,507,474)

406

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	VALUE (000)
		TOTAL INVESTMENTS - 99.9%	$	12,507,474
		(Cost $12,507,474)
		OTHER ASSETS & LIABILITIES, NET - 0.1%		13,906
		NET ASSETS - 100.0%	$	12,521,380
	i	Floating or variable rate security. Coupon rate reflects the rate at period end.
		Cost amounts are in thousands.

407

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

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 (“1940 Act”), as an open-end management investment company. It consists of eight investment portfolios: the Stock, Global Equities, Growth, Equity Index, Bond Market, Inflation-Linked Bond, Social Choice and Money Market Accounts (individually referred to as the “Account” or collectively referred to as the “Accounts”).

The accompanying schedules 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 schedules of investments. Investments held by the Money Market Account are recorded at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter amortizing any discount or premium from its face value at a constant rate until maturity.

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 using exchange rates obtained from an independent third party. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is reflected as a component of security gains and losses.

Transactions with affiliates: The Accounts may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Board of Trustees (“Board”), pursuant to the 1940 Act. 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 Board. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit 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

408

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

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

Debt securities: Debt securities will generally be valued using prices provided by a pricing service that may employ various indications of value including but not limited to broker-dealer quotations. Certain debt securities, other than money market instruments, are valued based on the most recent bid price or the equivalent 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 sale price as of the close of such commodities exchanges and are categorized in Level 1 of the fair value hierarchy.

Total return swap contracts: Total return swaps are marked-to-market daily based upon a price supplied by a pricing service. Total return swaps are generally categorized as Level 2 in the fair value hierarchy.

Credit default swap contracts: Credit default swap contracts are marked-to-market daily based upon a price supplied by a pricing service. Credit default swaps are generally categorized as Level 2 in the fair value hierarchy.

Any portfolio security for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value, as determined in good faith using procedures approved by the Board. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized as Level 3.

Transfers between levels are recognized at the end of the reporting period. For the period ended September 30, 2011, there were no significant transfers between levels by the Accounts.

As of September 30, 2011, 100% of the value of investments in the Equity Index Account was valued based on Level 1 inputs.

409

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

As of September 30, 2011, 100% of the value of 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, 2011 (amounts are in thousands):

Account	Level 1			Level 2			Level 3		Total
Stock
Consumer Discretionary*	$	7,846,290		$	2,909,747		$	-	$	10,756,037
Consumer Staples*		5,953,457			2,487,760			-		8,441,217
Energy*		6,508,561			2,631,304			-		9,139,865
Financials*		9,450,380			5,748,258			-		15,198,638
Health Care*		7,850,375			1,761,848			7,020		9,619,243
Industrials*		6,656,251			3,205,448			-		9,861,699
Information Technology*		12,020,493			1,832,030			-		13,852,523
Materials*		2,575,792			3,071,001			-		5,646,793
Telecommunication Services*		1,954,725			1,287,234			-		3,241,959
Utilities		2,534,772			936,596			-		3,471,368
Corporate Bonds		-			67			-		67
Short-Term Investments		-			6,353,789			-		6,353,789
Swaps **		-			(13,008	)		-		(13,008	)
Total	$	63,351,096		$	32,212,074		$	7,020	$	95,570,190
Global Equities
United States	$	6,379,483		$	51,628		$	-	$	6,431,111
United Kingdom*		19,356			1,145,160			-		1,164,516
Japan		-			1,021,448			-		1,021,448
Canada		39,619			488,689			-		528,308
Switzerland*		9,207			384,365			-		393,572
France *		63			432,835			-		432,898
Germany		-			333,997			-		333,997
Australia		-			299,090			-		299,090
Netherlands*		15,982			204,880			-		220,862
Other*		81,984			1,377,776			-		1,459,760
Short-Term Investments		-			1,219,096			-		1,219,096
Total	$	6,545,694		$	6,958,964		$	-	$	13,504,658
Growth
Consumer Discretionary	$	1,937,008		$	29,953		$	-	$	1,966,961
Consumer Staples		1,178,948			-			-		1,178,948
Energy*		1,051,687			38,694			-		1,090,381
Financials		556,675			-			-		556,675
Health Care*		1,449,404			-			-		1,449,404
Industrials *		1,301,160			23,229			-		1,324,389
Information Technology*		3,629,936			6,674			-		3,636,610
Materials*		593,207			6,562			-		599,769
Telecommunication Services		164,426			-			-		164,426
Utilities		5,813			-			-		5,813
Short-Term Investments		155,586			40,037			-		195,623
Futures**		(837	)		-			-		(837	)
Total	$	12,023,013		$	145,149		$	-	$	12,168,162

410

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

Account	Level 1		Level 2		Level 3		Total
Bond Market
Bank Loan Obligations	$	-	$	16,719	$	-	$	16,719
Corporate Bonds		-		3,604,829		-		3,604,829
Government Bonds		-		8,564,702		-		8,564,702
Structured Assets		-		595,083		-		595,083
Preferred Stocks		3,843		-		-		3,843
Short-Term Investments		-		2,423,379		-		2,423,379
Total	$	3,843	$	15,204,712	$	-	$	15,208,555
Social Choice
Consumer Discretionary	$	529,096	$	126,511	$	-	$	655,607
Consumer Staples		426,190		118,839		-		545,029
Energy		404,392		113,357		-		517,749
Financials		800,393		257,046		-		1,057,439
Health Care		568,832		97,464		-		666,296
Industrials		490,091		151,937		-		642,028
Information Technology		763,015		50,166		-		813,181
Materials		215,327		148,561		-		363,888
Telecommunication Services		105,594		74,238		-		179,832
Utilities		222,120		63,539		-		285,659
Corporate Bonds		-		1,078,470		-		1,078,470
Government		-		2,648,919		-		2,648,919
Structured Assets		-		220,734		-		220,734
Short-Term Investments		-		1,024,727		-		1,024,727
Total	$	4,525,050	$	6,174,508	$	-	$	10,699,558

* Includes American Depositary Receipts at Level 1.

** Derivatives instruments are not reflected in the portfolio of investments.

411

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

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 31,2010		$	8,653
Realized gain/loss			(43	)
Change in unrealized appreciation/depreciation			(1,326	)*
Gross purchases			-
Gross sales			(264	)
Balance as of September 30, 2011		$	7,020
*	Includes $(3,047) related to Level 3 securities still held at period end.

Note 3—derivative instruments

As defined by U.S. GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variable. Derivatives require little or no initial investment and permit or require net settlement. The Accounts value derivatives at fair value.

Futures contracts: The Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. The Accounts may use futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon 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.

At September 30, 2011, the Accounts held the following open futures contracts:

Account	Futures	Number of contracts ‡		Market value		Expiration date		Unrealized (depreciation)
Growth	CME E-mini S&P 500 Index		400	$	22,520		December 2011	$	(837	)
Equity Index	Russell 2000 Mini Index		26		1,668		December 2011		(127	)
	CME E-mini S&P Mid-Cap 400 Index		28		2,181		December 2011		(151	)
	CME E-mini S&P 500 Index		136		7,657		December 2011		(289	)
				$	11,506			$	(567	)

‡ Number of contracts are not in thousands.

412

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

Total return swap contracts: Total return swaps are agreements that provide an Account with a return based on the performance of an underlying asset, in exchange for fee payments to a counterparty based on a specific rate. To the extent the total return of the reference security or index underlying the total return swap exceeds or falls short of the offsetting interest rate obligation, the Account will receive a payment or make a payment to the counterparty, respectively. Payments received or made at the end of each measurement period are recorded as a realized gain or loss. The swap is valued daily and any change in the value of the swap is reflected in net unrealized gains and losses. Total return swaps are exposed to the market risk factor of the specific underlying financial instrument or index. Additional risks to the Account include the possibility that there is no liquid market for these agreements or that the counterparty may default on its obligation to perform. The Account’s maximum loss from counterparty risk is the fair value of the contract. The Stock Account is currently invested in a total return swap contract to gain exposure to certain equity markets.

At September 30, 2011, the Stock Account held the following open total return swap contracts (amounts are in thousands):

Counterparty	Notional amount		Termination date		Payments paid by account per annum		Total return received by or paid by account		Unrealized appreciation/ (depreciation)
JP Morgan	$	50,665		November 3, 2011		3 month LIBOR + 0.89%		MSCI EM Emerging Markets Small Cap USD		($13,008	)

Credit default swap contracts: The Accounts are subject to credit risk in the normal course of pursuing their investment objectives. A credit default swap is a contract between a buyer and a seller of protection against pre-defined credit events for the reference entity. As a seller in a credit default swap contract, the Account is required to pay an agreed upon amount to the counterparty with the occurrence of a specified credit event, such as certain bankruptcies related to an underlying credit instrument, index, or issuer which would likely result in a loss to the Account. The agreed upon amount approximates the notional value of the swap and is estimated to be the maximum potential future payment that the Account could be required to make under the contract. In return, the Account receives from the counterparty a periodic stream of payments over the term of the contract provided that no credit event has occurred. If no credit event occurs, the Account keeps the stream of payments with no payment obligations. When the Account sells a credit default swap contract it will cover its commitment. This may be achieved by, among other methods, maintaining cash or liquid assets in a segregated account equal to the aggregate notional value of the reference entities for all outstanding credit default swap contracts sold by the Account.

The Account may also buy credit default swap contracts, in which case the Account functions as the counterparty referenced above. This involves the risk that the contract may expire worthless. It also involves counterparty risk that the seller may fail to satisfy its payment obligations to the Account with the occurrence of a credit event.

Credit default swaps are valued daily, and any change in the value of the swaps is reflected separately as a change in unrealized appreciation (depreciation). Under the terms of the credit default swap contracts, the Fund receives or makes quarterly payments based on a payment rate on a fixed notional amount. These payments are recorded as a realized gain or loss. Payments received or made as a result of a credit event or termination of the contract are recognized as realized gains or losses.

The Accounts invest in credit default swaps to hedge or manage the risks associated with assets held in the Account and/or to facilitate the implementation of portfolio strategies.

At September 30, 2011, the Accounts did not hold any credit default swap contracts.

413

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

Note 4—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 1940 Act. Additionally, investments in other investment companies advised by TCIM or its affiliates are deemed to be affiliated companies. Information regarding transactions with affiliated companies is as follows (amounts are in thousands):

Issue	Value at December 31, 2010		Purchase cost		Sales proceeds		Realized gain/(loss)			Dividend income		Withholding expense		Shares at September 30, 2011		†	Value at September 30, 2011
Stock Account
Biovitrum AB	$	72,724	$	7,006	$	20,674	$	(1,015	)	$	-	$	-		-	**	$	-
Enteromedics, Inc		5,697		-		4,073		(424	)		-		-		-	**		-
Information Development Co		3,027		-		559		226			81		5		-	**		-
Japan Asia Investment Co Ltd		6,194		-		-		-			-		-		8,823,000			7,029
Jarden Corp		149,730		58,359		10,713		4,514			1,560		-		6,257,928			176,848
MPM Bioventures II		5,409		-		-		-			-		-		22,167,242			4,162
Orient-Express Hotels Ltd		77,211		4,876		14,477		(1,190	)		-		-		5,119,613			35,377
Skyline Venture Fund II Ltd		466		-		-		-			-		-		4,254,176			245
Stroer Out of Home Media AG.		*		56,834		5,130		438			-		-		3,091,770			44,307
Vanda Pharmaceuticals, Inc		15,236		98		1,038		(1,252	)		-		-		1,456,102			7,208
	$	335,694	$	127,173	$	56,664	$	1,297		$	1,641	$	5				$	275,176
Bond Market Account
TIAA-CREF High Yield Fund (Institutitional Class)	$	5,632	$	134	$	5,934	$	481		$	153	$	-		- **		$	-
	$	5,632	$	134	$	5,934	$	481		$	153	$	-				$	-

*	Not an affiliate investment as of December 31, 2010
**	Not an affiliate investment as of September 30, 2011
†	Shares are not in thousands

Note 5—investments

Securities lending: Certain Accounts may lend their securities to qualified institutional borrowers to earn additional income. An Account receives collateral (in the form of cash, Treasury securities, or other collateral permitted by applicable law) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of loaned securities during the period of the loan. Cash collateral received by an Account will generally be invested in high-quality short-term instruments, or in one or more funds maintained by the securities lending agent for the purpose of investing cash collateral. The Accounts bear the market risk with respect to the collateral investment, securities loaned, and the risk that the counterparty may default on its obligations to the Accounts.

414

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

Repurchase agreements: Each Account may enter into repurchase agreements with banks or broker-dealers. Repurchase agreements involve the purchase of securities from an institution, subject to the seller’s agreement to repurchase and the Account’s agreement to resell such securities at a mutually agreed-upon price. Pursuant to the terms of the repurchase agreement, securities purchased subject to repurchase agreements must have an aggregate market value 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 Account will require the seller to deposit additional collateral by the next business day. If a request for additional collateral is not met, or if the seller defaults on its repurchase obligation, the Account maintains the right to sell the underlying securities at market value and pursue a claim for any remaining loss against the seller.

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 an Account enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its when-issued or delayed-delivery purchase commitments.

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.

Dollar rolls transactions: Some of the Accounts may enter into mortgage dollar rolls in which an 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, an 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.

At September 30, 2011, 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	$	6,101,810	$	(11,825,983	)	$	(5,724,173	)
Global Equities		584,692		(1,603,279	)		(1,018,587	)
Growth		1,499,684		(959,108	)		540,576
Equity Index		2,477,475		(1,746,086	)		731,389
Bond Market		643,696		(172,713	)		470,983
Inflation-Linked Bond		1,046,276		(171	)		1,046,105
Social Choice		999,007		(679,244	)		319,763

415

Item 2. Controls and Procedures.

(a) An evaluation was performed within 90 days of 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 have 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

416

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 15, 2011	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 15, 2011 By /s/ Roger W. Ferguson, Jr.
Roger W. Ferguson, Jr.
President and Chief Executive Officer
(principal executive officer)

Date: November 15, 2011 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

3(b) Section 302 certification of the principal financial officer