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: March 31, 2013

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2013

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
BONDS - 0.0%
CORPORATE BONDS - 0.0%
CAPITAL GOODS - 0.0%
$	31,135	j,m	PDG Realty S.A. Empreendimentos e Participacoes	0.000	%	09/19/16	$	6
			TOTAL CAPITAL GOODS					6
DIVERSIFIED FINANCIALS - 0.0%
	2,588,000	m	Credit Suisse Group Guernsey V Ltd	4.000		03/29/13		4,251
	43,756	m	K&N Kenanga Holdings BHD	5.000		12/13/13		14
			TOTAL DIVERSIFIED FINANCIALS					4,265
FOOD & STAPLES RETAILING - 0.0%
	800	i	Marfrig Alimentos S.A.	1.000		07/15/15		40
			TOTAL FOOD & STAPLES RETAILING					40
REAL ESTATE - 0.0%
	22,147	m	Kiwi Income Property Trust	8.950		12/20/14		20
			TOTAL REAL ESTATE					20
			TOTAL CORPORATE BONDS					4,331
			(Cost $2,720)
GOVERNMENT BONDS 0.0%
U.S. TREASURY SECURITIES - 0.0%
	300,000		United States Treasury Note	1.750		05/15/22		301
			TOTAL U.S. TREASURY SECURITIES					301
			TOTAL GOVERNMENT BONDS					301
			(Cost $303)
			TOTAL BONDS					4,632
			(Cost $3,023)
EQUITY LINKED NOTES - 0.0%
BANKS - 0.0%
	14,899,365	*,m	Deutsche Bank, First Bank of Nigeria plc	0.000		04/04/18		1,788
			TOTAL BANKS					1,788

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
CAPITAL GOODS - 0.0%
$	3,094,000	*	Deutsche Bank, Access Engineering Ltd	0.000	%	09/23/22	$	481
			TOTAL CAPITAL GOODS					481
DIVERSIFIED FINANCIALS - 0.0%
	773,416	*	Deutsche Bank, John Keells	0.000		07/05/19		1,507
			TOTAL DIVERSIFIED FINANCIALS					1,507
			TOTAL EQUITY LINKED NOTES					3,776
			(Cost $2,983)

SHARES			COMPANY
COMMON STOCKS - 99.4%
AUTOMOBILES & COMPONENTS - 1.8%
	104,085		Actron Technology Corp	283
	69,300		Aisan Industry Co Ltd	669
	454,348		Aisin Seiki Co Ltd	16,748
	103,500	e	Akebono Brake Industry Co Ltd	468
	68,370	e	Allison Transmission Holdings, Inc	1,642
	1,093,307	*,e	American Axle & Manufacturing Holdings, Inc	14,924
	211,675		Amtek Auto Ltd	250
	359,768		Amtek India Ltd	469
	233,190		Apollo Tyres Ltd	359
	11,259	*	Asahi India Glass Ltd	10
	21,561	e	AtlasBX Co Ltd	735
	142,000	e	Autoliv, Inc	9,818
	76,682	e	Autoliv, Inc (ADR)	5,297
	71,600		Autometal S.A.	731
	5,249	*	Autoneum Holding AG.	351
	118,105		Bajaj Holdings and Investment Ltd	3,918
	216,341		Bayerische Motoren Werke AG.	18,722
	460		Bayerische Motoren Werke AG. (Preference)	29
	87,562		Bharat Forge Ltd	334
	215,720	*	BorgWarner, Inc	16,684
	52,728		Brembo S.p.A.	848
	830,238		Bridgestone Corp	27,936
	4,673,900	*,e	Brilliance China Automotive Holdings Ltd	5,520
	726,800	*,e	Byd Co Ltd	2,329
	347,109	e	Calsonic Kansei Corp	1,539
	1,956,000		Chaowei Power Holdings Ltd	954
	2,221,604		Cheng Shin Rubber Industry Co Ltd	6,325
	2,105,500		China Motor Corp	1,957
	59,601		Cie Automotive Sa	390
	91,059		Compagnie Plastic-Omnium S.A.	4,219
	369,795		Continental AG.	44,324
	296,967		Cooper Tire & Rubber Co	7,620
	57,080	e	Dae Won Kang Up Co Ltd	414
	28,000	e	Daido Metal Co Ltd	229
	550,653	*,e	Daihatsu Motor Co Ltd	11,459

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	906,923		Daimler AG. (Reg)	$	49,461
	653,766		Dana Holding Corp		11,657
	4,264,402		Delphi Automotive plc		189,339
	887,678		Denso Corp		37,716
	174,000		Depo Auto Parts Ind Co Ltd		438
	1,300		Dong Ah Tire & Rubber Co Ltd		20
	3,372,500		Dongfeng Motor Group Co Ltd		4,754
	17,800	e	Dongyang Mechatronics Corp		199
	90,624	e	Dorman Products, Inc		3,372
	308,900		Double Coin Holdings Ltd		231
	2,595,800		Drb-Hicom BHD		2,166
	162,172		Drew Industries, Inc		5,888
	59,000	e	Eagle Industry Co Ltd		575
	42,906	e	ElringKlinger AG.		1,302
	35,382		Exedy Corp		829
	285,319	*,e	Exide Technologies		770
	58,783		Faurecia		936
	35,200	e	FCC Co Ltd		855
	844,710		Federal Corp		605
	81,349	*,e	Federal Mogul Corp (Class A)		491
	112,730	*	Fiat S.p.A.		602
	57,719	e	Fleetwood Corp Ltd		560
	17,225,817		Ford Motor Co		226,519
	128,785		Ford Otomotiv Sanayi AS		1,852
	53,112	*	Fuel Systems Solutions, Inc		875
	979,052		Fuji Heavy Industries Ltd		15,530
	67,797	*	Futaba Industrial Co Ltd		314
	5,176,700	e	Geely Automobile Holdings Ltd		2,525
	24,057,000	*,m,n	General Motors Co		0	^
	4,230,271	*,e,m,n	General Motors Co		0	^
	6,062,000	*,m,n	General Motors Co		0	^
	40,684,487	*,m,n	General Motors Co		0	^
	26,439,191	*,m,n	General Motors Co		0	^
	35,983,677	*,m,n	General Motors Co		0	^
	2,084,595	*	General Motors Co		57,993
	722,689	*,e,m	General Motors Co		0	^
	85,268,000	*,e,m,n	General Motors Co		0	^
	7,950,000	*,m,n	General Motors Co		0	^
	18,507,434	*,m,n	General Motors Co		0	^
	250,504		Gentex Corp		5,013
	103,076	*	Gentherm, Inc		1,688
	4,690,028		GKN plc		18,900
	15,780	e	Global & Yuasa Battery Co Ltd		697
	1,037		Goodyear Lastikleri Turk AS.		38
	659,320	*	Goodyear Tire & Rubber Co		8,314
	34,662		Grammer AG.		967
	2,124,000	e	Great Wall Motor Co Ltd		7,229
	21,900		G-Tekt Corp		590
	5,960,566	e	Guangzhou Automobile Group Co Ltd		5,062
	108,580	e	Halla Climate Control Corp		2,764
	62,460	e,m	Hanil E-Wha Co Ltd		598
	115,742		Hankook Tire Co Ltd		5,013

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,583		Hankook Tire Worldwide Co Ltd	$	26
	496,084		Harley-Davidson, Inc		26,441
	73,945		Hero Honda Motors Ltd		2,102
	2,146,297		Honda Motor Co Ltd		82,655
	73,884		Hu Lane Associate, Inc		146
	51,260	e	Hwa Shin Co Ltd		552
	131,375		Hyundai Mobis		36,880
	277,951		Hyundai Motor Co		56,186
	57,115		Hyundai Motor Co Ltd (2nd Preference)		4,383
	34,432		Hyundai Motor Co Ltd (Preference)		2,455
	40,268		Hyundai Wia Corp		6,007
	250,133		IMMSI S.p.A.		151
	1,805,586		Isuzu Motors Ltd		10,943
	289,500	*,m	Jinan Qingqi Motorcycle Co		64
	949,647		Johnson Controls, Inc		33,304
	304,896	e	Kayaba Industry Co Ltd		1,523
	231,300		Keihin Corp		3,204
	1,432,811		Kenda Rubber Industrial Co Ltd		2,571
	358,557	e	Kia Motors Corp		18,192
	58,000	e	Kinugawa Rubber Industrial Co Ltd		296
	84,196	*	Koito Manufacturing Co Ltd		1,454
	72,810	*,e	Kumho Tire Co, Inc		835
	62,290		Landi Renzo S.p.A.		107
	560,138		Lear Corp		30,735
	39,323		Leoni AG.		1,528
	106,830		Linamar Corp		2,547
	377,288		Magna International, Inc (Class A)		22,176
	428,252		Mahindra & Mahindra Ltd		6,803
	65,700		Mahle-Metal Leve S.A. Industria e Comercio		910
	14,392		Mando Corp		1,514
	104,582	*	Martinrea International, Inc		842
	1,800		Maruti Udyog Ltd		43
	11,787,742	*	Mazda Motor Corp		34,673
	96,986		Metair Investments Ltd		394
	345,898		Michelin (C.G.D.E.) (Class B)		28,980
	1,188,000	e	Minth Group Ltd		1,754
	47,000		Mitsuba Corp		508
	700,376	*	Mitsubishi Motors Corp		732
	158,682	*,e	Modine Manufacturing Co		1,444
	37,940	e	Motonic Corp		434
	5,268		MRF Ltd		1,163
	23,000		Musashi Seimitsu Industry Co Ltd		524
	549,348		Nan Kang Rubber Tire Co Ltd		618
	2,037	e	Nexen Corp		140
	41,427		Nexen Tire Corp		559
	194,613		NGK Spark Plug Co Ltd		2,985
	290,296	*	NHK Spring Co Ltd		3,039
	11,800		Nidec-Tosok Corp		78
	99,451	e	Nifco, Inc		2,274
	73,000		Nippon Seiki Co Ltd		997
	3,853,104		Nissan Motor Co Ltd		37,377
	94,941		Nissan Shatai Co Ltd		1,164

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	57,200		Nissin Kogyo Co Ltd	$	955
	63,926		NOK Corp		925
	9,059	e	Nokian Renkaat Oyj		404
	848,000	*,m	Norstar Founders Group Ltd		0	^
	121,700		Oriental Holdings BHD		377
	24,910		Otokar Otobus Karoseri Sanayi AS		786
	41,000		Pacific Industrial Co Ltd		246
	129,755	*,e	Peugeot S.A.		941
	180,127	e	Piaggio & C S.p.A.		463
	397,928	e	Pirelli & C S.p.A.		4,186
	28,522		Porsche AG.		2,090
	212,436		Press Kogyo Co Ltd		1,104
	29,273,700		PT Astra International Tbk		23,886
	2,810,500		PT Gajah Tunggal Tbk		725
	348,000		PT Selamat Sempurna Tbk		91
	6,963	e	Pyeong Hwa Automotive Co Ltd		104
	8,728,000	e	Qingling Motors Co Ltd		2,357
	1,651,646		Renault S.A.		103,620
	126,000		Riken Corp		531
	30,610	e	S&T Daewoo Co Ltd		684
	29,820	e	S&T Dynamics Co Ltd		348
	52,563	*	SAF-Holland S.A.		413
	155,000	e	Sanden Corp		642
	56,500		Sanoh Industrial Co Ltd		391
	669,920		Sanyang Industry Co Ltd		566
	6,010	e	Sejong Industrial Co Ltd		71
	22,556		Shiloh Industries, Inc		243
	205,500		Showa Corp		2,209
	10,230	e	SL Corp		134
	7,139	e	Societe Fonciere Financiere et de Participations FFP		293
	106,264		Sogefi S.p.A.		302
	475,700		Somboon Advance Technology PCL		603
	146,257		Spartan Motors, Inc		777
	519,500		Sri Trang Agro-Industry PCL		287
	48,450	*	Ssangyong Motor Co		259
	123,935		Standard Motor Products, Inc		3,435
	197,895		Stanley Electric Co Ltd		3,433
	134,189	*	Stoneridge, Inc		1,024
	543,503		Sumitomo Rubber Industries, Inc		9,125
	9,500		Sundram Fasteners Ltd		7
	26,745		Sungwoo Hitech Co Ltd		364
	143,597	e	Superior Industries International, Inc		2,682
	91,753	e	Suzuki Motor Corp		2,056
	2,308,653		T RAD Co Ltd		6,262
	49,200		Tachi-S Co Ltd		876
	15,400		Taiho Kogyo Co Ltd		201
	44,000	*,e	Takata Corp		890
	210,400		TAN Chong Motor Holdings BHD		350
	894,989		Tata Motors Ltd		4,366
	22,200		Teikoku Piston Ring Co Ltd		345
	302,794	*	Tenneco, Inc		11,903
	1,832,403	*,e	Tesla Motors, Inc		69,430

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	170,696		Thor Industries, Inc	$	6,280
	2,050,000	e	Tianneng Power International Ltd		1,374
	77,870		Tofas Turk Otomobil Fabrik		562
	96,363		Tokai Rika Co Ltd		1,802
	40,600	e	Tokai Rubber Industries, Inc		468
	788,975		Tong Yang Industry Co Ltd		719
	70,200		Topre Corp		725
	28,556	*	Tower International, Inc		400
	611,000		Toyo Tire & Rubber Co Ltd		2,745
	209,570	e	Toyoda Gosei Co Ltd		5,044
	117,537	e	Toyota Boshoku Corp		1,664
	134,093		Toyota Industries Corp		4,940
	6,384,237	*	Toyota Motor Corp		329,208
	445,208	*	TRW Automotive Holdings Corp		24,486
	96,300		TS Tech Co Ltd		2,743
	14,700		Tube Investments Of India		45
	143,601		Tung Thih Electronic Co Ltd		330
	482,066		TVS Motor Co Ltd		286
	1,359,282		UMW Holdings BHD		5,882
	43,600		Unipres Corp		980
	162,614		Valeo S.A.		8,811
	79,342	*	Visteon Corp		4,578
	94,364		Volkswagen AG.		17,797
	52,690		Volkswagen AG. (Preference)		10,494
	139,602	*,e	Winnebago Industries, Inc		2,881
	2,770,900	e	Xingda International Holdings Ltd		916
	2,230,785	e	Xinyi Glass Holdings Co Ltd		1,581
	36,472	e	Yamaha Motor Co Ltd		494
	519,000		Yokohama Rubber Co Ltd		6,012
	261,900		Yorozu Corp		4,656
	1,072,258		Yulon Motor Co Ltd		1,917
			TOTAL AUTOMOBILES & COMPONENTS		2,080,745
BANKS - 6.1%
	76,296		1st Source Corp		1,808
	101,497	e	1st United Bancorp, Inc		656
	1,450,030		77 Bank Ltd		7,834
	57,123	*	Aareal Bank AG.		1,215
	347,502	e	ABSA Group Ltd		5,860
	27,382	e	Access National Corp		449
	442,800		Affin Holdings BHD		489
	48,636,100	e	Agricultural Bank of China		23,405
	9,600		Aichi Bank Ltd		572
	3,349,275		Akbank TAS		17,598
	821,285	*	Albaraka Turk Katilim Bankasi AS		886
	2,154,300		Alliance Financial Group BHD		3,061
	896,230	*	Alpha Bank S.A.		814
	315,270	*,m	Amagerbanken AS		0	^
	28,100		American National Bankshares, Inc		606
	111,258	*	Ameris Bancorp		1,597
	36,673	e	Ames National Corp		765
	180,854		Andhra Bank		315

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,987,484	e	Aozora Bank Ltd	$	45,216
	150,625		Apollo Residential Mortgage		3,357
	57,882	e	Arrow Financial Corp		1,426
	215,005		Associated Banc-Corp		3,266
	338,159	e	Astoria Financial Corp		3,334
	548,061	*	Asya Katilim Bankasi AS		724
	59,024		Attijariwafa Bank		2,186
	3,699,816	*	Australia & New Zealand Banking Group Ltd		110,345
	457,721		Awa Bank Ltd		2,868
	2,661,767	e	Banca Carige S.p.A.		1,779
	11,039,673		Banca Intesa S.p.A.		16,266
	3,652,450		Banca Intesa S.p.A. RSP		4,628
	1,347,234	*,e	Banca Monte dei Paschi di Siena S.p.A.		322
	461,119		Banca Popolare dell’Emilia Romagna Scrl		3,270
	4,159,999		Banca Popolare di Milano		2,556
	410,617		Banca Popolare di Sondrio SCARL		2,146
	39,391		Bancfirst Corp		1,643
	67,637		Banche Popolari Unite Scpa		251
	148,452		Banco ABC Brasil S.A.		1,201
	2,804,206		Banco Bilbao Vizcaya Argentaria S.A.		24,486
	638,276	*,e	Banco BPI S.A.		807
	646,360	*	Banco Bradesco S.A.		11,259
	3,430,840		Banco Bradesco S.A. (Preference)		57,963
	13,716,784	*,e	Banco Comercial Portugues S.A.		1,671
	132,788		Banco Davivienda S.A.		1,891
	85,900		Banco Daycoval S.A.		514
	20,411,138		Banco de Chile		3,217
	830,835	*	Banco de Chile-T		126
	40,387		Banco de Credito e Inversiones		2,966
	2,763,125		Banco de Oro Universal Bank		6,079
	340,187	e	Banco de Sabadell S.A.		626
	1,394,322		Banco do Brasil S.A.		18,941
	221,181		Banco do Estado do Rio Grande do Sul		1,918
	1,666,689	*,e	Banco Espirito Santo S.A.		1,709
	157,300		Banco Industrial e Comercial S.A.		467
	4,035,600		Banco Itau Holding Financeira S.A.		71,875
	98,121		Banco Latinoamericano de Exportaciones S.A. (Class E)		2,428
	53,700		Banco Panamericano S.A.		188
	61,700		Banco Pine S.A.		441
	149,588	*	Banco Popolare Scarl		190
	1,015,561		Banco Popular Espanol S.A.		755
	980,844		Banco Santander Brasil S.A.		7,091
	3,892,741		Banco Santander Central Hispano S.A.		26,372
	81,934,122		Banco Santander Chile S.A.		5,815
	413,086		BanColombia S.A.		6,517
	56,000	e	BanColombia S.A. (ADR)		3,542
	390,552		BanColombia S.A. (Preference)		6,204
	354,864	e	Bancorpsouth, Inc		5,784
	97,500		Bangkok Bank PCL		742
	352,600		Bangkok Bank PCL (ADR)		2,683
	1,661,200		Bangkok Bank PCL (Foreign)		12,862

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,534		Bank Handlowy w Warszawie S.A.	$	714
	839,208		Bank Hapoalim Ltd		3,813
	127,425		Bank Leumi Le-Israel		451
	235,638	*	Bank Millennium S.A.		348
	179,315		Bank Mutual Corp		992
	2,148,100		Bank of Ayudhya PCL (Foreign)		2,580
	38,896		Bank of Baroda		485
	145,267,100		Bank of China Ltd		67,587
	15,294,172		Bank of Communications Co Ltd		11,484
	4,349,184		Bank of Cyprus Public Co Ltd		1,154
	1,562,024	e	Bank of East Asia Ltd		6,180
	90,404		Bank of Georgia Holdings plc		2,119
	55,080	e	Bank of Hawaii Corp		2,799
	138,909		Bank of India		776
	38,636,117	*,e	Bank of Ireland		7,643
	780,183	*	Bank of Kaohsiung		251
	23,933		Bank of Kentucky Financial Corp		656
	436,125		Bank of Kyoto Ltd		4,276
	27,704	e	Bank of Marin Bancorp		1,111
	1,074,260		Bank of Montreal (Toronto)		67,616
	365,000		Bank of Nagoya Ltd		1,679
	1,904,900	e	Bank of Nova Scotia		110,842
	367,931		Bank of Queensland Ltd		3,710
	184,541		Bank of Saga Ltd		480
	100,738	e	Bank of the Ozarks, Inc		4,468
	1,547,251		Bank of the Philippine Islands		4,170
	61,800		Bank of the Ryukyus Ltd		911
	1,434,763		Bank of Yokohama Ltd		8,324
	144,728		Bank Pekao S.A.		6,990
	14,576,300		Bank Rakyat Indonesia		13,175
	91,506	e	BankFinancial Corp		740
	805,864	e	Bankinter S.A.		3,912
	188,434	e	BankUnited		4,828
	111,950		Banner Corp		3,563
	4,717		Banque Cantonale Vaudoise		2,636
	13,532	e	Bar Harbor Bankshares		495
	33,350,048		Barclays plc		148,383
	1,196,066		BB&T Corp		37,545
	335,926		BBCN Bancorp, Inc		4,387
	214,794		Bendigo Bank Ltd		2,305
	124,979	*	Beneficial Mutual Bancorp, Inc		1,287
	10,811	e	Berkshire Bancorp, Inc		90
	83,702		Berkshire Hills Bancorp, Inc		2,138
	160,800		BIMB Holdings BHD		178
	3,107,355		BNP Paribas		159,773
	5,410,037	e	BOC Hong Kong Holdings Ltd		18,095
	35,721	*,e	BofI Holding, Inc		1,282
	30,358		BOK Financial Corp		1,891
	290,316		Boston Private Financial Holdings, Inc		2,868
	15,353	*	BRE Bank S.A.		1,613
	32,771		Bridge Bancorp, Inc		705
	36,637	*	Bridge Capital Holdings		558

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	421,647		Brookline Bancorp, Inc	$	3,854
	42,048		Bryn Mawr Bank Corp		979
	228,487		BS Financial Group		3,118
	29,823	*	BSB Bancorp, Inc		412
	6,667,196		Bumiputra-Commerce Holdings BHD		16,491
	9,631		C&F Financial Corp		394
	30,415		Camden National Corp		1,006
	830,783	e	Canadian Imperial Bank of Commerce/Canada		65,164
	104,532	e	Canadian Western Bank		2,917
	128,180		Canara Bank		908
	46,754	e	Cape Bancorp, Inc		428
	17,827	*	Capital Bank Financial Corp		306
	72,921	*,e	Capital City Bank Group, Inc		901
	855,638		CapitalSource, Inc		8,231
	336,724		Capitol Federal Financial		4,064
	187,498		Cardinal Financial Corp		3,409
	14,093	*,e	Cascade Bancorp		95
	296,735		Cathay General Bancorp		5,970
	51,554		Center Bancorp, Inc		641
	119,945	e	Centerstate Banks of Florida, Inc		1,029
	200,000		Central Bank Of India		247
	92,568	*,e	Central Pacific Financial Corp		1,453
	17,869		Century Bancorp, Inc		606
	7,002,342		Chang Hwa Commercial Bank		4,119
	11,990	e	Charter Financial Corp		153
	136,676		Chemical Financial Corp		3,606
	883,189		Chiba Bank Ltd		6,367
	48,800	*	Chiba Kogyo Bank Ltd		481
	24,031,000		China Citic Bank		14,489
	133,117,931		China Construction Bank		109,119
	14,701,770		China Development Financial Holding Corp		4,206
	8,532,722	e	China Merchants Bank Co Ltd		18,132
	13,938,500	e	China Minsheng Banking Corp Ltd		17,831
	17,177,395		Chinatrust Financial Holding Co		10,272
	6,136,100	e	Chongqing Rural Commercial Bank		3,294
	214,717		Chugoku Bank Ltd		3,476
	1,314,179	*	CIT Group, Inc		57,141
	58,050	e	Citizens & Northern Corp		1,132
	143,771	*	Citizens Republic Bancorp, Inc		3,242
	75,154	e	City Holding Co		2,990
	56,599		City National Corp		3,334
	41,848	e	Clifton Savings Bancorp, Inc		521
	47,897		CNB Financial Corp		817
	119,697	e	CoBiz, Inc		967
	227,097	e	Columbia Banking System, Inc		4,992
	51,463		Comdirect Bank AG.		540
	241,674		Comerica, Inc		8,688
	154,083		Commerce Bancshares, Inc		6,291
	888,121		Commercial International Bank		3,997
	520,010	*,e	Commerzbank AG.		766
	1,440,548		Commonwealth Bank of Australia		102,322
	175,873	e	Community Bank System, Inc		5,211

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	48,823	e	Community Trust Bancorp, Inc	$	1,661
	12,993		Corp Bank		92
	308,768,360		CorpBanca S.A.		4,242
	349,628	*	Cosmos Bank Taiwan		191
	130,862		Credicorp Ltd (NY)		21,730
	32,543		Credit Agricole Nord de France		556
	646,462	*	Credit Agricole S.A.		5,336
	135,335		Credito Emiliano S.p.A.		695
	5,725	*	Crescent Financial Bancshares, Inc		23
	550,523	e	Criteria Caixacorp S.A.		1,868
	64,264	e	Cullen/Frost Bankers, Inc		4,018
	314,909	e	CVB Financial Corp		3,549
	550,439		Dah Sing Banking Group Ltd		758
	366,256		Dah Sing Financial Holdings Ltd		1,923
	516,000		Daishi Bank Ltd		2,131
	536,798	*	Danske Bank AS		9,624
	1,619,803		DBS Group Holdings Ltd		20,965
	2,322,608	*	Development Credit Bank Ltd		1,843
	38,445		Dewan Housing Finance Corp Ltd		115
	177,580		DGB Financial Group Co Ltd		2,692
	2,090,892		Dhanalakshmi Bank Ltd		1,767
	170,125		Dime Community Bancshares		2,443
	8,174,050		DNB NOR Holding ASA		120,299
	462,305	*	Doral Financial Corp		326
	5,309,322		E.Sun Financial Holding Co Ltd		3,222
	92,268	*	Eagle Bancorp, Inc		2,020
	1,188,737		East West Bancorp, Inc		30,515
	410,000	*	EastWest Banking Corp		335
	439,501	*	EFG Eurobank Ergasias S.A.		138
	331,000		Eighteenth Bank Ltd		914
	23,957	e	Enterprise Bancorp, Inc		406
	82,601	e	Enterprise Financial Services Corp		1,184
	228,000		Entie Commercial Bank		129
	532,455	*	Erste Bank der Oesterreichischen Sparkassen AG.		14,900
	47,300		ESB Financial Corp		648
	46,051	e	ESSA Bancorp, Inc		499
	77,044	e	EverBank Financial Corp		1,186
	2,133,390		Far Eastern International Bank		866
	67,946	e	Farmers National Banc Corp		429
	33,447		Federal Agricultural Mortgage Corp (Class C)		1,030
	113,648		Federal Bank Ltd		1,006
	32,632	e	Fidelity Southern Corp		375
	2,375,428	e	Fifth Third Bancorp		38,743
	70,566	e	Financial Institutions, Inc		1,408
	59,114	e	First Bancorp (NC)		797
	245,487	*,e	First Bancorp (Puerto Rico)		1,529
	37,558	e	First Bancorp, Inc		676
	376,802	e	First Busey Corp		1,722
	78,933	*,e	First California Financial Group, Inc		673
	8,334		First Citizens Bancshares, Inc (Class A)		1,523
	382,368	e	First Commonwealth Financial Corp		2,852
	57,772		First Community Bancshares, Inc		916

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	82,189		First Connecticut Bancorp	$	1,211
	45,107		First Defiance Financial Corp		1,052
	9,104	*,e	First Federal Bancshares of Arkansas, Inc		91
	334,316		First Financial Bancorp		5,366
	157,058	e	First Financial Bankshares, Inc		7,633
	39,571		First Financial Corp		1,246
	8,621,991		First Financial Holding Co Ltd		5,403
	90,349		First Financial Holdings, Inc		1,894
	60,466	*,e	First Financial Northwest, Inc		472
	319,406		First Horizon National Corp		3,411
	49,212	*	First International Bank Of Israel Ltd		706
	92,840		First Interstate Bancsystem, Inc		1,746
	98,870		First Merchants Corp		1,530
	330,487		First Midwest Bancorp, Inc		4,389
	431,070		First Niagara Financial Group, Inc		3,819
	28,493	e	First of Long Island Corp		845
	39,534		First Pactrust Bancorp, Inc		451
	166,478		First Republic Bank		6,429
	530,160	e	FirstMerit Corp		8,764
	105,346	e	Flushing Financial Corp		1,785
	544,684		FNB Corp		6,591
	34,685	*,e	FNB United Corp		339
	50,889		Fox Chase Bancorp, Inc		860
	53,158		Franklin Financial Corp		970
	588,350		Fukuoka Financial Group, Inc		2,950
	246,413		Fulton Financial Corp		2,883
	91,140		Genworth MI Canada, Inc		2,241
	59,776	e	German American Bancorp, Inc		1,375
	903,348	*	Get Bank S.A.		486
	278,358	*	Getin Holding S.A.		233
	267,269		Glacier Bancorp, Inc		5,073
	54,810		Great Southern Bancorp, Inc		1,337
	30,620		Gruh Finance Ltd		118
	1,158,653		Grupo Aval Acciones y Valores		819
	3,910,989	e	Grupo Financiero Banorte S.A. de C.V.		31,246
	2,628,632		Grupo Financiero Inbursa S.A.		7,668
	395,700	e	Grupo Financiero Santander Mexico SAB de C.V.		1,193
	88,121	*	Grupo Financiero Santander Mexico SAB de C.V. (ADR)		1,360
	279,734	*,e	Guaranty Bancorp		587
	352,203		Gunma Bank Ltd		2,103
	319,150		Hachijuni Bank Ltd		1,912
	40,483	*,e	Hampton Roads Bankshares, Inc		53
	307,480		Hana Financial Group, Inc		10,901
	300,845		Hancock Holding Co		9,302
	1,530,777		Hang Seng Bank Ltd		24,596
	230,349	*	Hanmi Financial Corp		3,686
	2,583,128		HDFC Bank Ltd		29,768
	54,092	e	Heartland Financial USA, Inc		1,367
	109,798	*	Heritage Commerce Corp		739
	59,591		Heritage Financial Corp		864
	34,351		Heritage Financial Group		497
	73,585	*	Heritage Oaks Bancorp		419

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	188,000		Higashi-Nippon Bank Ltd	$	505
	463,331		Higo Bank Ltd		3,006
	4,737		Hingham Institution for Savings		330
	593,000	e	Hiroshima Bank Ltd		2,873
	384,000		Hokkoku Bank Ltd		1,624
	373,000		Hokuetsu Bank Ltd		919
	63,000		Hokuhoku Financial Group, Inc		128
	25,681	*	Home Bancorp, Inc		478
	103,382		Home Bancshares, Inc		3,894
	86,969		Home Capital Group, Inc		5,029
	66,501	e	Home Federal Bancorp, Inc		851
	199,293		Home Loan Servicing Solutions Ltd		4,650
	47,961	*	HomeStreet, Inc		1,071
	55,435	*	HomeTrust Bancshares, Inc		876
	763,640		Hong Leong Bank BHD		3,562
	198,512		Hong Leong Credit BHD		958
	13,990		Horizon Bancorp		283
	1,980,997		Housing Development Finance Corp		30,185
	26,821,123		HSBC Holdings plc		286,170
	6,765,778		Hua Nan Financial Holdings Co Ltd		3,906
	706,664		Hudson City Bancorp, Inc		6,106
	49,780		Hudson Valley Holding Corp		742
	9,742,046		Huntington Bancshares, Inc		71,994
	419,692		Hyakugo Bank Ltd		2,117
	570,000		Hyakujushi Bank Ltd		2,399
	109,854		IBERIABANK Corp		5,495
	643,114		ICICI Bank Ltd		12,498
	21,469		ICICI Bank Ltd (ADR)		921
	94,316	e	Independent Bank Corp		3,074
	168,572		Indian Overseas Bank		202
	140,570,366		Industrial & Commercial Bank of China		98,863
	269,980		Industrial Bank of Korea		3,110
	994,879		ING Vysya Bank Ltd		10,192
	185,360		International Bancshares Corp		3,855
	4,492,335		Investimentos Itau S.A. - PR		23,454
	152,473		Investors Bancorp, Inc		2,863
	541,290	*,m	Irish Bank Resolution Corp Ltd		0	^
	2,500,736	*	Israel Discount Bank Ltd		4,293
	33,236		Iyo Bank Ltd		308
	15,922		Jammu & Kashmir Bank Ltd		349
	156,574		Jeonbuk Bank		789
	534,406		Joyo Bank Ltd		2,981
	798,555		Juroku Bank Ltd		3,363
	88,329	*	Jyske Bank		3,014
	188,000		Kagoshima Bank Ltd		1,332
	662,535		Kansai Urban Banking Corp		889
	174,900		Kanto Tsukuba Bank Ltd		955
	576,095		Karnataka Bank Ltd		1,389
	22,505	*	Karur Vusya Bank Ltd		187
	508,800		Kasikornbank PCL		3,626
	195,500		Kasikornbank PCL - NVDR		1,393
	1,996,200		Kasikornbank PCL (Foreign)		14,292
	761,855		KB Financial Group, Inc		25,451

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	329,093		KBC Groep NV	$	11,411
	73,156		Kearny Financial Corp		746
	782,000		Keiyo Bank Ltd		4,491
	7,663,500		Keycorp		76,328
	696,432		Kiatnakin Bank PCL		1,586
	1,218,000	*	King’s Town Bank		1,127
	1,699,000		Kiyo Holdings, Inc		2,733
	31,608		Komercni Banka AS		6,030
	280,650		Korea Exchange Bank		1,869
	8,064,900		Krung Thai Bank PCL		6,854
	101,983		Lakeland Bancorp, Inc		1,005
	84,550		Lakeland Financial Corp		2,257
	34,552		Laurentian Bank of Canada		1,495
	899,393		LIC Housing Finance Ltd		3,727
	103,397,056	*	Lloyds TSB Group plc		77,043
	239,477	e	M&T Bank Corp		24,704
	92,622		MainSource Financial Group, Inc		1,300
	6,997,378		Malayan Banking BHD		21,242
	1,278,600		Malaysia Building Society		1,121
	5,646,074	*	Marfin Popular Bank Public Co Ltd		288
	203,710	e	MB Financial, Inc		4,924
	21,700,428		Mega Financial Holding Co Ltd		17,620
	28,992		Mercantile Bank Corp		484
	22,464		Merchants Bancshares, Inc		677
	47,424	*	Meridian Interstate Bancorp, Inc		889
	58,579	*	MetroCorp Bancshares, Inc		591
	1,548,251		Metropolitan Bank & Trust		4,439
	1,188,126	*,e	MGIC Investment Corp		5,881
	19,460		Middleburg Financial Corp		378
	30,637	e	Midsouth Bancorp, Inc		498
	23,606	e	MidWestOne Financial Group, Inc		562
	217,000		Mie Bank Ltd		525
	270,000		Minato Bank Ltd		498
	17,710,264	e	Mitsubishi UFJ Financial Group, Inc		106,850
	4,364,494		Mitsui Trust Holdings, Inc		20,783
	214,000		Miyazaki Bank Ltd		634
	9,723	*	Mizrahi Tefahot Bank Ltd		104
	32,257,983	e	Mizuho Financial Group, Inc		69,219
	36,668		Musashino Bank Ltd		1,451
	534,928		Nanto Bank Ltd		2,566
	15,196	*,e	NASB Financial, Inc		320
	2,196,481		National Australia Bank Ltd		70,872
	5,900		National Bank Holdings Corp		108
	219,905	e	National Bank of Canada		16,151
	1,248,741	*	National Bank of Greece S.A.		1,066
	37,526	e	National Bankshares, Inc		1,311
	615,238	e	National Penn Bancshares, Inc		6,577
	234,486	*,e	Nationstar Mortgage Holdings, Inc		8,653
	1,554,307		Natixis		5,913
	204,382	e	NBT Bancorp, Inc		4,527
	486,779	e	Nedbank Group Ltd		10,085
	537,614	e	New York Community Bancorp, Inc		7,715

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	421,829		Nishi-Nippon City Bank Ltd	$	1,306
	24,537	*	NOMOS-BANK (GDR)		307
	2,986,571		Nordea Bank AB		33,882
	428,700		North Pacific Bank Ltd		1,450
	94,105	e	Northfield Bancorp, Inc		1,069
	23,797		Northrim BanCorp, Inc		535
	379,351		Northwest Bancshares, Inc		4,814
	44,159		OceanFirst Financial Corp		637
	485,175	*,e	Ocwen Financial Corp		18,398
	383,000		Ogaki Kyoritsu Bank Ltd		1,424
	349,000		Oita Bank Ltd		1,337
	370,694		Old National Bancorp		5,097
	40,639	*	OmniAmerican Bancorp, Inc		1,027
	150,585	e	Oriental Financial Group, Inc		2,336
	251,201		Oritani Financial Corp		3,891
	418,494		OTP Bank		7,562
	3,686,551	e	Oversea-Chinese Banking Corp		31,758
	64,177		Pacific Continental Corp		717
	39,572	*,e	Pacific Mercantile Bancorp		231
	172,385	e	PacWest Bancorp		5,018
	719,669		Paragon Group of Cos plc		3,547
	11,100		Parana Banco S.A.		78
	38,977	e	Park National Corp		2,720
	126,846	*	Park Sterling Bank		715
	30,519	e	Peapack Gladstone Financial Corp		455
	17,954	e	Penns Woods Bancorp, Inc		736
	63,221	*	Pennsylvania Commerce Bancorp, Inc		1,046
	55,738		Peoples Bancorp, Inc		1,248
	23,163	e	Peoples Federal Bancshares, Inc		442
	423,132	e	People’s United Financial, Inc		5,687
	429,240	*	Philippine National Bank		1,062
	824,186		Piccolo Credito Valtellinese Scarl		911
	122,752	*,e	Pinnacle Financial Partners, Inc		2,867
	1,563,172	*	Piraeus Bank S.A.		390
	1,277,338	e	PNC Financial Services Group, Inc		84,943
	138,462	*	Popular, Inc		3,823
	913,248		Powszechna Kasa Oszczednosci Bank Polski S.A.		9,703
	42,227	*	Preferred Bank		666
	304,010		PrivateBancorp, Inc		5,749
	220,078		Prosperity Bancshares, Inc		10,429
	30,331		Provident Financial Holdings, Inc		516
	209,114		Provident Financial Services, Inc		3,193
	134,734	e	Provident New York Bancorp		1,222
	14,947,000		PT Bank Bukopin Tbk		1,390
	14,832,000		PT Bank Central Asia Tbk		17,448
	4,264,735		PT Bank Danamon Indonesia Tbk		2,834
	13,140,500		PT Bank Jabar Banten Tbk		1,749
	15,059,248		PT Bank Mandiri Persero Tbk		15,553
	17,094,750		PT Bank Negara Indonesia		8,906
	10,000,000	*	PT Bank Pan Indonesia Tbk		837
	10,518,500	*	PT Bank Pembangunan Daerah Jawa Timur Tbk		565
	7,076,194		PT Bank Tabungan Negara Tbk		1,241

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	78,946		Public Bank BHD	$	414
	1,603,311		Public Bank BHD (Foreign)		8,440
	6,969		Punjab & Sind Bank		7
	665,257	e	Radian Group, Inc		7,125
	68,870		Raiffeisen International Bank Holding AG.		2,348
	7,678,784		Regions Financial Corp		62,889
	114,212	e	Renasant Corp		2,556
	45,702	e	Republic Bancorp, Inc (Class A)		1,035
	5,627,640	e	Resona Holdings, Inc		29,714
	690,790		RHB Capital BHD		1,927
	467,800		Rizal Commercial Banking Corp		802
	156,111		Rockville Financial, Inc		2,023
	36,128	e	Roma Financial Corp		580
	5,200	*,m	Roskilde Bank		0	^
	135,601	e	Royal Bank of Canada		8,177
	2,243,064	e	Royal Bank of Canada (Toronto)		135,134
	8,025,832	*	Royal Bank of Scotland Group plc		33,726
	157,947		S&T Bancorp, Inc		2,928
	44,738	e	S.Y. Bancorp, Inc		1,007
	81,024		Sandy Spring Bancorp, Inc		1,629
	178,000		San-In Godo Bank Ltd		1,536
	5,687,596		Sberbank of Russian Federation (ADR)		73,172
	64,182	e	SCBT Financial Corp		3,235
	302,925	*,e	Seacoast Banking Corp of Florida		633
	545,456		Security Bank Corp		2,434
	465,036		Sekerbank TAS		553
	523,280	e	Senshu Ikeda Holdings, Inc		2,979
	228,000	e	Seven Bank Ltd		734
	279,000	e	Shiga Bank Ltd		1,924
	709,302		Shinhan Financial Group Co Ltd		25,530
	2,045,823	e	Shinsei Bank Ltd		4,701
	739,559		Shizuoka Bank Ltd		8,348
	39,112		SI Financial Group, Inc		473
	2,633,800		Siam Commercial Bank PCL		16,018
	61,471	e	Sierra Bancorp		808
	200,198	*	Signature Bank		15,768
	92,921	e	Simmons First National Corp (Class A)		2,353
	34,279		Simplicity Bancorp, Inc		515
	8,451,151		SinoPac Financial Holdings Co Ltd		4,034
	2,660,460	e	Skandinaviska Enskilda Banken AB (Class A)		26,756
	801,792	*	Societe Generale		26,397
	64,330	e	Southside Bancshares, Inc		1,352
	79,033	*,e	Southwest Bancorp, Inc		993
	254,964	e	Sparebanken Midt-Norge		2,031
	4,947		St Galler Kantonalbank		2,084
	2,257,249	e	Standard Bank Group Ltd		29,066
	5,771,864		Standard Chartered plc		149,873
	134,224	e	Standard Chartered plc (Hong Kong)		3,491
	148,209		State Bank & Trust Co		2,426
	10,927		State Bank of Bikaner & Jaip		83
	66,665		State Bank of India Ltd		2,550
	87,295		State Bank of India Ltd (GDR)		7,285

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,543		State Bank of Travancore	$	24
	114,329		StellarOne Corp		1,846
	167,445	e	Sterling Bancorp		1,701
	89,348		Sterling Financial Corp		1,938
	42,007	*	Suffolk Bancorp		598
	3,683,471		Sumitomo Mitsui Financial Group, Inc		151,114
	156,544	*,e	Sun Bancorp, Inc		534
	1,002,150		SunTrust Banks, Inc		28,872
	73,678	e	Suruga Bank Ltd		1,184
	762,084	e	Susquehanna Bancshares, Inc		9,473
	91,264	*	SVB Financial Group		6,474
	311,833	e	Svenska Handelsbanken (A Shares)		13,337
	2,045,645	e	Swedbank AB (A Shares)		46,609
	84,739	*	Sydbank AS		1,738
	218,579		Syndicate Bank		444
	5,613,262	e	Synovus Financial Corp		15,549
	2,201,934	*	Ta Chong Bank Co Ltd		803
	2,417,615		Taichung Commercial Bank		856
	7,894,268		Taishin Financial Holdings Co Ltd		3,301
	3,435,471	*	Taiwan Business Bank		1,086
	6,281,313		Taiwan Cooperative Financial Holding		3,594
	56,694	*,e	Taylor Capital Group, Inc		907
	4,372,365	e	TCF Financial Corp		65,411
	46,258		Territorial Bancorp, Inc		1,100
	202,200	*	Texas Capital Bancshares, Inc		8,179
	95,487	*	TFS Financial Corp		1,034
	1,384,500		Thanachart Capital PCL		2,126
	106,046	*	The Bancorp, Inc		1,469
	1,302,500		Tisco Bank PCL		2,463
	224,000		Tochigi Bank Ltd		908
	510,000		Toho Bank Ltd		1,654
	32,200		Tokyo Tomin Bank Ltd		393
	332,600		Tomony Holdings, Inc		1,446
	37,456		Tompkins Trustco, Inc		1,584
	1,383,673	e	Toronto-Dominion Bank		115,205
	490,000		Towa Bank Ltd		601
	92,474	e	TowneBank		1,384
	14,311		Tree.com, Inc		265
	66,449	e	Trico Bancshares		1,136
	506,903	e	Trustco Bank Corp NY		2,829
	239,304	e	Trustmark Corp		5,985
	3,811,952		Turkiye Garanti Bankasi AS		20,242
	685,968		Turkiye Halk Bankasi AS		7,337
	3,204,891		Turkiye Is Bankasi (Series C)		12,196
	1,408,135		Turkiye Sinai Kalkinma Bankasi AS		1,939
	999,940		Turkiye Vakiflar Bankasi Tao		3,209
	620,191		UCO Bank		638
	160,502	e	UMB Financial Corp		7,876
	573,459		Umpqua Holdings Corp		7,604
	6,927,081	*	UniCredit S.p.A		29,734
	31,330	*	Union Bank of Israel		118
	562,640	*	Union Bank Of Taiwan		212

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	92,206		Union Bankshares Corp	$	1,804
	179,213	e	United Bankshares, Inc		4,769
	244,580	*	United Community Banks, Inc		2,774
	102,229		United Financial Bancorp, Inc		1,554
	1,096,679	e	United Overseas Bank Ltd		18,080
	66,849	e	Univest Corp of Pennsylvania		1,165
	8,814,251		US Bancorp		299,068
	324,147		UTI Bank Ltd		7,783
	27,500		Valiant Holding		2,450
	242,886	e	Valley National Bancorp		2,487
	125,561	e	ViewPoint Financial Group		2,525
	514,060		Vijaya Bank		445
	101,391	*	Virginia Commerce Bancorp		1,425
	1,479,322	e	VTB Bank OJSC (GDR)		4,669
	40,518	*,e	Walker & Dunlop, Inc		728
	60,749		Washington Banking Co		847
	193,762		Washington Federal, Inc		3,391
	54,241	e	Washington Trust Bancorp, Inc		1,485
	18,764	*,e	Waterstone Financial, Inc		155
	365,820		Webster Financial Corp		8,875
	27,249,067		Wells Fargo & Co		1,007,943
	86,067	e	WesBanco, Inc		2,061
	71,430		West Bancorporation, Inc		793
	70,784	e	West Coast Bancorp		1,719
	100,130	e	Westamerica Bancorporation		4,539
	347,542	*,e	Western Alliance Bancorp		4,810
	149,590		Westfield Financial, Inc		1,164
	4,889,467		Westpac Banking Corp		157,351
	381,607	*,e	Wilshire Bancorp, Inc		2,587
	138,461		Wing Hang Bank Ltd		1,474
	178,198	e	Wintrust Financial Corp		6,600
	444,750		Woori Finance Holdings Co Ltd		5,028
	34,300		WSFS Financial Corp		1,668
	14,200		Yachiyo Bank Ltd		487
	235,000		Yamagata Bank Ltd		1,133
	62,905		Yamaguchi Financial Group, Inc		628
	237,354		Yamanashi Chuo Bank Ltd		1,086
	1,803,689	*	Yapi ve Kredi Bankasi		5,587
	225,245	e	Zions Bancorporation		5,629
			TOTAL BANKS		6,852,395
CAPITAL GOODS - 7.9%
	1,947,843		3M Co		207,075
	211,899		A.O. Smith Corp		15,589
	116,754		Aalberts Industries NV		2,614
	68,283	e	Aaon, Inc		1,884
	202,686		AAR Corp		3,727
	202,391		ABB Ltd		4,595
	386,862	e	Abengoa S.A.		1,103
	219,180	*,e	Abengoa S.A. (B Shares)		548
	40,001		ABG Shipyard Ltd		238
	3,637,292		Aboitiz Equity Ventures, Inc		4,915

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,813,000		AcBel Polytech, Inc	$	1,584
	207,910	*,e	Accuride Corp		1,121
	199,000		ACES Electronic Co Ltd		223
	102,478		Aceto Corp		1,134
	66,359	e	ACS Actividades Cons y Servicios S.A.		1,555
	102,970		Acter Co Ltd		508
	272,070		Actuant Corp (Class A)		8,331
	189,317	e	Acuity Brands, Inc		13,129
	266,805		Adani Enterprises Ltd		997
	46,986		Aditya Birla Nuvo Ltd		846
	169,500		Advan Co Ltd		1,888
	49,000		Advanced Ceramic X Corp		144
	476,753	*	Aecom Technology Corp		15,638
	72,255		Aecon Group, Inc		928
	137,567	*	Aegion Corp		3,185
	68,504	*,e	Aerovironment, Inc		1,242
	15,100	*	AFG Arbonia-Forster Hldg		407
	32,100	e	AG Growth International Inc		1,046
	542,987		AGCO Corp		28,300
	55,899		Aica Kogyo Co Ltd		1,027
	40,500		Aichi Corp		192
	189,200		Aida Engineering Ltd		1,539
	156,281	e	Air Lease Corp		4,582
	217,233		Aircastle Ltd		2,972
	89,400		Airtac International Group		457
	68,073	*	Akfen Holding AS.		420
	27,435		Alamo Group, Inc		1,049
	226,239		Alarko Holding AS		721
	139,482		Albany International Corp (Class A)		4,031
	28,016	e	Alfa Laval AB		647
	7,313,540		Alfa S.A. de C.V. (Class A)		17,858
	16,903,500		Alliance Global Group, Inc		8,764
	189,239		Alliant Techsystems, Inc		13,707
	22,292		Allied Electronics Corp Ltd		51
	164,679		Allied Electronics Corp Ltd (Preference)		372
	24,862		Alstom Projects India Ltd		146
	749,580		Alstom RGPT		30,574
	31,000		Alstom T&D India Ltd		84
	102,023		Altra Holdings, Inc		2,777
	1,200,025		Amada Co Ltd		7,982
	125,700		Amano Corp		1,203
	6,208		Amara Raja Batteries Ltd		31
	71,794	*	Ameresco, Inc		531
	54,610	e	American Railcar Industries, Inc		2,552
	54,728		American Science & Engineering, Inc		3,338
	144,007	*,e	American Superconductor Corp		383
	64,339	*,e	American Woodmark Corp		2,189
	887,441		Ametek, Inc		38,479
	46,254		Ampco-Pittsburgh Corp		875
	34,000	*	Amrep Corp		0	^
	255,000		Amtek Engineering Ltd		110
	107,403		Andritz AG.		7,230

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	119,799	*,e	API Technologies Corp	$	297
	109,731		Apogee Enterprises, Inc		3,177
	156,430		Applied Industrial Technologies, Inc		7,039
	143,034		Arcadis NV		3,967
	128,556	e	Argan, Inc		1,917
	30,627		Armstrong World Industries, Inc		1,712
	366,392	*	ArvinMeritor, Inc		1,733
	57,600	e	Asahi Diamond Industrial Co Ltd		562
	1,573,205		Asahi Glass Co Ltd		10,958
	635,318		Aselsan Elektronik Sanayi Ve Ticaret AS		3,688
	1,515,208		Ashok Leyland Ltd		612
	3,058,972		Ashtead Group plc		27,369
	873,566		Assa Abloy AB (Class B)		35,712
	176,611		Astaldi S.p.A.		1,219
	71,536		Astec Industries, Inc		2,499
	40,985	*	Astronics Corp		1,222
	2,579	*,e	Astronics Corp (Class B)		76
	598,016	e	Asunaro Aoki Construction Co Ltd		3,182
	266,474		Atlas Copco AB (A Shares)		7,582
	168,013		Atlas Copco AB (B Shares)		4,257
	129,119	*	ATS Automation Tooling Systems, Inc		1,258
	339,337		Ausdrill Ltd		1,031
	110,245		Ausenco Ltd		445
	1,362,675		Austal Ltd		943
	81,264	e	Austin Engineering Ltd		494
	389,899		Aveng Ltd		1,368
	6,524,000	*	AVIC International Holding HK Ltd		257
	3,062,600		AviChina Industry & Technology Co		1,509
	129,229		AZZ, Inc		6,229
	33,087		B&B Tools AB		431
	164,508		Babcock & Wilcox Co		4,674
	6,622,210		BAE Systems plc		39,761
	125,274		Balfour Beatty plc		448
	172,121		Bando Chemical Industries Ltd		549
	546,000		Baoye Group Co Ltd		387
	354,176		Barloworld Ltd		3,694
	207,255		Barnes Group, Inc		5,996
	78,615	*	Basil Read Holdings Ltd		101
	8,405		Bauer AG.		215
	15,285		BayWa AG.		722
	465,442	*	BE Aerospace, Inc		28,062
	57	*	Beacon Power Corp		0	^
	163,945	*,e	Beacon Roofing Supply, Inc		6,338
	1,047,600		Beijing Enterprises Holdings Ltd		8,080
	166,928	e	Belden CDT, Inc		8,622
	7,321		BEML Ltd		20
	242,800		Benalec Holdings BHD		94
	1,683,700		Berjaya Corp BHD		280
	801,000		BES Engineering Corp		244
	528,759		Besalco S.A.		989
	1,145,634		Bharat Heavy Electricals		3,743
	8,821	e	BHI Co Ltd		203

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	400,975		Bidvest Group Ltd	$	10,570
	88,559	e	Bird Construction Income Fund		1,155
	171,437	*	Blount International, Inc		2,294
	79,413	*,e	Bluelinx Holdings, Inc		226
	669,225		Boart Longyear Group		900
	11,644	*	Bobst Group AG.		381
	450,138		Bodycote plc		3,680
	4,075,623		Boeing Co		349,892
	441,000		Boer Power Holdings Ltd		257
	2,303,530		Bombardier, Inc		9,138
	257,503		Boskalis Westminster		10,244
	5,613		Bossard Holding AG.		860
	233,237		Bouygues S.A.		6,334
	214,864	e	Bradken Ltd		1,463
	205,427		Brady Corp (Class A)		6,888
	57,379		Brenntag AG.		8,972
	191,151	e	Briggs & Stratton Corp		4,741
	8,701		Bucher Industries AG.		2,017
	16,806		Budimex S.A.		391
	157,782	*,e	Builders FirstSource, Inc		925
	114,000		Bunka Shutter Co Ltd		589
	289,508		Bunzl plc		5,714
	54,299		Burckhardt Compression Holding AG.		20,355
	374,609		CAE, Inc		3,662
	44,335	*	CAI International, Inc		1,278
	1,012,113	*,e	Capstone Turbine Corp		911
	15,923		Carbone Lorraine		370
	144,904		Cardno Ltd		1,042
	42,319	e	Cargotec Corp (B Shares)		1,302
	521,688		Carillion plc		2,162
	331,824		Carlisle Cos, Inc		22,494
	1,845,699		Caterpillar, Inc		160,520
	101,900		CB Industrial Product Holding BHD		83
	1,180,000		Central Glass Co Ltd		4,110
	22,652		CENTROTEC Sustainable AG.		427
	370,551	*	Cersanit Krasnystaw S.A.		154
	97,000		Champion Building Materials Co Ltd		34
	218,500		Changchai Co Ltd		128
	1,905,540	e	Changsha Zoomlion Heavy Industry Science and Technology Development Co Ltd		2,309
	107,908	*	Chart Industries, Inc		8,634
	227,615		Chemring Group plc		900
	348,000		Chen Hsong Holdings		122
	712,000	*	Chengdu Putian Telecom Cable Co Ltd		84
	1,012,258		Chicago Bridge & Iron Co NV		62,861
	574,050		Chien Kuo Construction Co Ltd		287
	1,419,000		China Automation Group Ltd		321
	5,797,600		China Communications Construction Co Ltd		5,414
	5,804,000	*	China Daye Non-Ferrous Metals Mining Ltd		195
	570,000		China Electric Manufacturing Corp		346
	3,854,000	*	China Energine International Holdings Ltd		179

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	531,050	*	China Fangda Group Co Ltd	$	188
	882,000		China Glass Holdings Ltd		122
	1,656,000	e	China High Speed Transmission Equipment Group Co Ltd		783
	1,074,970	*	China International Marine Containers Group Co Ltd		1,776
	4,672,000	e	China National Materials Co Ltd		1,252
	2,659,000	e	China Railway Construction Corp		2,530
	5,338,700		China Railway Group Ltd		2,726
	332,400		China Singyes Solar Technologies Holdings Ltd		277
	6,358,900	e	China South Locomotive and Rolling Stock Corp		4,532
	3,783,100	e	China State Construction International Holdings Ltd		5,192
	171,000		China Steel Structure Co Ltd		204
	2,276,000		Chip Eng Seng Corp Ltd		1,490
	113,928	e	Chiyoda Corp		1,277
	24,300		Chiyoda Integre Co Ltd		276
	6,666,000		Chongqing Machinery & Electric Co Ltd		948
	2,463	e	Chosun Refractories Co Ltd		143
	56,800		Chudenko Corp		572
	94,989	e	Chugai Ro Co Ltd		252
	672,000		Chung Hsin Electric & Machinery Manufacturing Corp		366
	43,600		Churchill Corp		323
	522,309		Cintra Concesiones de Infraestructuras de Transporte S.A.		8,313
	548,239		CIR-Compagnie Industriali Riunite S.p.A.		548
	63,948		CIRCOR International, Inc		2,718
	1,513,814	e	Citic Pacific Ltd		1,973
	5,487,000	*,e	Citic Resources Holdings Ltd		737
	540,000		Civmec Ltd		495
	57,746		CJ Corp		7,558
	52,800		CKD Corp		342
	89,402		Clal Industries and Investments		350
	232,949		Clarcor, Inc		12,202
	770,299		Clough Ltd		1,059
	480,888		CNH Global NV		19,870
	403,866		Coastal Contracts BHD		261
	856,549		Cobham plc		3,172
	459,368		Cofide S.p.A.		237
	34,935	e	Coleman Cable, Inc		524
	107,160	*,e	Colfax Corp		4,987
	102,404	*	Columbus McKinnon Corp		1,971
	151,044	e	Comfort Systems USA, Inc		2,128
	91,650	*,e	Commercial Vehicle Group, Inc		715
	140,444		Compagnie de Saint-Gobain		5,215
	7,985		Compagnie d’Entreprises CFE		466
	280,100		COMSYS Holdings Corp		3,405
	86,881	e	Concentric AB		931
	2,022		Construcciones y Auxiliar de Ferrocarriles S.A.		730
	827,000		Continental Engineering Corp		319
	1,239,000	e	Cosco Corp Singapore Ltd		913
	2,242,000		Cosco International Holdings Ltd		959
	26,885	e	Cosel Co Ltd		309
	91,657	e	Costain Group plc		382

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	14,203	*,e	CPI Aerostructures, Inc	$	122
	63,577	e	Cramo Oyj (Series B)		790
	138,392		Crane Co		7,731
	30,000		Crompton Greaves Ltd		52
	1,084,590		CSBC Corp Taiwan		679
	713,222		CSR Ltd		1,535
	836,600		CTCI Corp		1,616
	72,190		Cubic Corp		3,084
	831,329		Cummins, Inc		96,276
	230,050		Curtiss-Wright Corp		7,983
	550,000		DA CIN Construction Co Ltd		444
	96,385		Daelim Industrial Co		7,970
	131,795	*,e	Daewoo Engineering & Construction Co Ltd		1,064
	49,598	e	Daewoo International Corp		1,729
	123,351		Daewoo Shipbuilding & Marine Engineering Co Ltd		3,069
	98,500		Daifuku Co Ltd		805
	134,641		Daihen Corp		398
	52,000		Daiichi Jitsugyo Co Ltd		277
	280,882	e	Daikin Industries Ltd		11,054
	45,000		Daiwa Industries Ltd		265
	190,200		Dalian Refrigeration Co Ltd		145
	2,044,903		Danaher Corp		127,091
	16,211	e	Danieli & Co S.p.A.		411
	123,238		Danieli & Co S.p.A. (RSP)		2,050
	196,834		DCC plc		6,926
	366,425	e	Decmil Group Ltd		902
	684,364		Deere & Co		58,842
	29,100		Denyo Co Ltd		381
	105,282	*	Deutz AG.		555
	2,813,850		Dialog Group BHD		2,166
	200,447	*,e	DigitalGlobe, Inc		5,795
	61,306	*	Discount Investment Corp		201
	1,765,990		DMCI Holdings, Inc		2,380
	738,308	*	Dogan Sirketler Grubu Holdings		437
	323,036		Donaldson Co, Inc		11,691
	361,500	e	Dongfang Electric Co Ltd		601
	26,169		Dongkuk Structures & Construction Co Ltd		89
	27,432		Doosan Corp		3,170
	24,330	*	Doosan Engine Co Ltd		199
	131,293		Doosan Heavy Industries and Construction Co Ltd		5,327
	125,640	*,e	Doosan Infracore Co Ltd		1,787
	77,771	e	Douglas Dynamics, Inc		1,075
	1,123,942		Dover Corp		81,913
	45,944		Duerr AG.		5,018
	64,405		Duro Felguera S.A.		441
	36,333	*	DXP Enterprises, Inc		2,714
	148,243	*	Dycom Industries, Inc		2,919
	60,450	e	Dynamic Materials Corp		1,052
	394,000		Dynapack International Technology Corp		1,385
	423,900		Dynasty Ceramic PCL		902
	22,868		Eastern Co		401

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,011,671		Eaton Corp	$	123,215
	531,828	e	Ebara Corp		2,127
	29,315		Eczacibasi Yatirim Holding		120
	56,447	*,e	Edgen Group, Inc		408
	559,324	*	Edwards Group Ltd (ADR)		4,503
	3,287		Eicher Motors Ltd		155
	107,021		Eiffage S.A.		4,536
	28,021		Elbit Systems Ltd		1,185
	2,620		Electra Israel Ltd		289
	358,460		EMCOR Group, Inc		15,195
	843,921		Emeco Holdings Ltd		552
	1,759,389		Emerson Electric Co		98,297
	811,082		Empresa Brasileira de Aeronautica S.A.		7,225
	809,500	*,e	Empresas ICA Sociedad Controladora S.A. de C.V.		2,701
	75,929		Encore Wire Corp		2,659
	10,400	e	Endo Lighting Corp		313
	199,701	*,e	Energy Recovery, Inc		739
	260,295	*	EnerSys		11,864
	66,792		ENG Electric Co Ltd		71
	18,312	*,e	Engility Holdings, Inc		439
	2,052,359		Engineers India Ltd		5,840
	938,922		Enka Insaat ve Sanayi AS		2,908
	20,028	*,e	Enphase Energy, Inc		124
	74,569	*,e	EnPro Industries, Inc		3,816
	96,000		Enric Energy Equipment Holdings Ltd		104
	99,024	e	ESCO Technologies, Inc		4,046
	169,862		Escorts Ltd		155
	138,814	*	Esterline Technologies Corp		10,508
	1,100,851		European Aeronautic Defence and Space Co		56,109
	397,738		Exelis, Inc		4,331
	14,911		Fabryka Kotlow Rafako S.A.		23
	7,419		Faiveley S.A.		470
	59,349	*	Fanuc Ltd		9,138
	7,176,000	*	Far East Global Group Ltd		2,241
	4,219,852		Far Eastern Textile Co Ltd		4,347
	826,190	e	Fastenal Co		42,425
	286,507	*	Federal Signal Corp		2,332
	231,840		Fenner plc		1,374
	1,763,263		Ferreyros S.A.		1,825
	740,598		Fiat Industrial S.p.A.		8,352
	315,982	*	Finmeccanica S.p.A.		1,524
	138,128		Finning International, Inc		3,441
	588,000	*	First Tractor Co		525
	172,637	*,e	Flow International Corp		675
	210,253		Flowserve Corp		35,262
	74,350	e	FLSmidth & Co AS		4,532
	784,327		Fluor Corp		52,024
	59,265	e	Fomento de Construcciones y Contratas S.A.		566
	162,164		Forge Group Ltd		1,017
	989,079		Forjas Taurus S.A. (Preference)		1,463
	1,881,926	*	Fortune Brands Home & Security, Inc		70,440
	290,100		Foshan Electrical and Lighting Co Ltd		199

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	215,000	*	Foster Wheeler AG.	$	4,913
	192,930		Franklin Electric Co, Inc		6,477
	806,200	e,m	Fraser and Neave Ltd		6,136
	41,203		Freightcar America, Inc		899
	33,164		Frigoglass S.A.		185
	401,942		FSP Technology, Inc		382
	183,200	*	Fudo Tetra Corp		350
	525,266	*,e	FuelCell Energy, Inc		496
	1,290,302	*	Fuji Electric Holdings Co Ltd		3,795
	85,192		Fuji Machine Manufacturing Co Ltd		743
	472,978	e	Fujikura Ltd		1,503
	149,000		Fujitec Co Ltd		1,493
	137,747	*	Furmanite Corp		922
	840,000		Furukawa Co Ltd		960
	686,762	e	Furukawa Electric Co Ltd		1,522
	46,019	*	Futaba Corp/Chiba		493
	306,000		G Shank Enterprise Co Ltd		180
	668,000	*,e	Gallant Venture Ltd		151
	176,263		Galliford Try plc		2,462
	629,245	e	Gamesa Corp Tecnologica S.A.		1,933
	4,956,200		Gamuda BHD		6,617
	64,616		Gardner Denver, Inc		4,853
	109,680		GATX Corp		5,700
	158,053		GEA Group AG.		5,220
	7,678		Geberit AG.		1,893
	275,168	*,e	GenCorp, Inc		3,660
	166,447	e	Generac Holdings, Inc		5,882
	164,129	*	General Cable Corp		6,012
	1,594,295		General Dynamics Corp		112,414
	45,018,220		General Electric Co		1,040,822
	4,697		Georg Fischer AG.		1,994
	6,043		Gesco AG.		586
	144,322	*	Gibraltar Industries, Inc		2,634
	292,221		Giken Seisakusho Co, Inc		1,380
	163,520		Gildemeister AG.		3,450
	57,461	e	Global Power Equipment Group, Inc		1,012
	430,000		Globe Union Industrial Corp		223
	75,256		Glory Ltd		1,803
	960,000	*	GMR Infrastructure Ltd		384
	53,554		Gorman-Rupp Co		1,609
	86,833		Graco, Inc		5,039
	143,133	*,e	GrafTech International Ltd		1,099
	1,326,863		Grafton Group plc		8,692
	37,866	e	Graham Corp		937
	308,361		Grana y Montero S.A.		1,357
	180,968		Granite Construction, Inc		5,762
	9,950		Graphite India Ltd		14
	205,648		Great Lakes Dredge & Dock Corp		1,384
	22,415		Greaves Cotton Ltd		26
	80,309	*,e	Greenbrier Cos, Inc		1,824
	163,393	e	Griffon Corp		1,948
	58,821	*	Grontmij (ADR)		256

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	149,813		Group Five Ltd	$	587
	1,076,037	e	Grupo Carso S.A. de C.V. (Series A1)		5,998
	42,035	e	GS Engineering & Construction Corp		2,052
	10,060	e	GS Global Corp		106
	40,065	e	GS Yuasa Corp		168
	98,800	*	Guangzhou Shipyard International Co Ltd		83
	313,342	e	GWA International Ltd		825
	121,355	e	H&E Equipment Services, Inc		2,476
	1,193,000		Haitian International Holdings Ltd		1,857
	55,224		Haldex AB		330
	6,670		Halla Engineering & Construction Corp		40
	750,580		Hangzhou Steam Turbine Co		1,259
	53,291	*,e	Hanjin Heavy Industries & Construction Co Ltd		430
	26,120		Hanjin Heavy Industries & Construction Holdings Co Ltd		156
	295,395		Hanwa Co Ltd		1,055
	790,700		HAP Seng Consolidated BHD		442
	2,340,000		Harbin Power Equipment		1,909
	42,578		Hardinge, Inc		580
	99,070		Harsco Corp		2,454
	169,671		Havells India Ltd		2,014
	185,235	e	Heico Corp		8,041
	259,276	*,e	Heidelberger Druckmaschinen		599
	167,708	*	Hellenic Technodomiki Tev S.A.		333
	2,804,000		Henderson Investment Ltd		221
	362,616	*	Hexcel Corp		10,519
	21,400		Hibiya Engineering Ltd		221
	523,721		Hills Industries Ltd		610
	1,195,866		Hindustan Construction Co		302
	858,377		Hino Motors Ltd		9,319
	44,000		Hisaka Works Ltd		419
	233,000	*,e	Hitachi Cable Ltd		372
	158,234	e	Hitachi Construction Machinery Co Ltd		3,405
	55,000		Hitachi Koki Co Ltd		454
	1,046,899		Hitachi Zosen Corp		1,754
	241,338		Hiwin Technologies Corp		1,787
	4,838,000	e	HKC Holdings Ltd		168
	7,416	*	Hochtief AG.		484
	446,735		Hock Seng Lee BHD		215
	11,552	*	Homag Group AG.		213
	6,104,661		Honeywell International, Inc		459,986
	159,000		Hong Leong Asia Ltd		219
	955,887		Hopewell Holdings		3,880
	59,000		Hoshizaki Electric Co Ltd		1,728
	38,000		Hosokawa Micron Corp		330
	68,768		Houston Wire & Cable Co		891
	911,000	*	HUA ENG Wire & Cable		366
	130,593		Hubbell, Inc (Class B)		12,682
	20,073		Huber & Suhner AG.		963
	17,797		Hudaco Industries Ltd		183
	157,038		Huntington Ingalls		8,375
	24,380	*	Hurco Cos, Inc		664
	2,470,961		Hutchison Whampoa Ltd		25,834

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	17,644	e	Hy-Lok Corp	$	330
	75,347		Hyster-Yale Materials Handling, Inc		4,302
	40,020	e	Hyundai Corp		984
	72,796		Hyundai Development Co		1,629
	91,392		Hyundai Engineering & Construction Co Ltd		5,483
	71,668		Hyundai Heavy Industries		13,894
	14,506	e	Hyundai Mipo Dockyard		1,520
	29,800		Idec Corp		267
	156,812	e	IDEX Corp		8,377
	669,019	*	Ihlas Holding		307
	186,163	*	II-VI, Inc		3,172
	1,441,807		IJM Corp BHD		2,568
	31,410	e	Iljin Electric Co Ltd		114
	1,768,411		Illinois Tool Works, Inc		107,767
	66,670		iMarketKorea, Inc		1,513
	39,366		IMI plc		777
	33,245		Implenia AG.		1,816
	873,648		Impregilo S.p.A.		4,487
	28,640		IMS-Intl Metal Service		338
	201,007	e	Imtech NV		2,285
	43,510		Inaba Denki Sangyo Co Ltd		1,317
	98,884		Inabata & Co Ltd		737
	41,698		Indus Holding AG.		1,289
	19,220		Industria Macchine Automatiche S.p.A.		450
	39,000		Industrias Romi S.A.		105
	23,237		Indutrade AB		815
	996		Ingersoll-Rand India Ltd		7
	3,218,156		Ingersoll-Rand plc		177,031
	89,446		Insteel Industries, Inc		1,460
	2,925,000	*	Interchina Holdings Co		157
	89,272		Interpump Group S.p.A.		699
	318,117		Interserve plc		2,417
	4,560,253		Invensys plc		24,423
	262,700		Iochpe-Maxion S.A.		3,452
	12,320	*,e	IS Dongseo Co Ltd		129
	386,000		Iseki & Co Ltd		1,373
	296,000		I-Sheng Electric Wire & Cable Co Ltd		441
	9,509,341	e	Ishikawajima-Harima Heavy Industries Co Ltd		28,953
	1,650,000	*	Italian-Thai Development PCL		410
	3,505,877	e	Itochu Corp		43,078
	173,857		ITT Corp		4,943
	759,135		IVRCL Infrastructures & Projects Ltd		270
	501,000		Iwatani International Corp		2,401
	546,333	*	Jacobs Engineering Group, Inc		30,726
	198,102		Jain Irrigation Systems Ltd		224
	1,301,362		Jaiprakash Associates Ltd		1,575
	106,604		Japan Pulp & Paper Co Ltd		341
	242,443	e	Japan Steel Works Ltd		1,286
	1,274,057		JG Summit Holdings (Series B)		1,329
	120,894		JGC Corp		3,103
	4,536,000	e	Jiangsu Rongsheng Heavy Industry Group Co Ltd		740
	418,000		Jingwei Textile Machinery		297

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,516		Jinsung T.E.C.	$	62
	133,265		John Bean Technologies Corp		2,765
	1,993,000		Johnson Electric Holdings Ltd		1,485
	860,987	e	Joy Global, Inc		51,246
	799,777		JTEKT Corp		7,575
	179,000	e	Juki Corp		295
	43,087		Jungheinrich AG.		1,812
	7,506	*,e	JVM Co Ltd		369
	73,361	*	Kadant, Inc		1,834
	256,434	e	Kajima Corp		697
	8,178		Kalpataru Power Transmission Ltd		12
	93,531	e	Kaman Corp		3,318
	26,000		Kamei Corp		291
	27,000		Kanamoto Co Ltd		586
	314,000		Kandenko Co Ltd		1,449
	554,000	*	Kanematsu Corp		746
	23,600		Katakura Industries Co Ltd		290
	23,000		Kaulin Manufacturing Co Ltd		16
	2,264,640		Kawasaki Heavy Industries Ltd		7,177
	114,437		Kaydon Corp		2,927
	1,464,743		KBR, Inc		46,989
	11,442		KCC Corp		3,061
	6,490	e	KCC Engineering & Construction Co Ltd		149
	58,468	e	KCI Konecranes Oyj		1,935
	10,039		KEC International Ltd		11
	25,000	e	Keihan Electric Railway Co Ltd		111
	149,638		Keller Group plc		1,857
	10,657		Kendrion NV		259
	876,913		Kennametal, Inc		34,235
	201,785		Kentz Corp Ltd		1,334
	3,953,438	e	Keppel Corp Ltd		35,813
	72,468	*,e	KEYW Holding Corp		1,169
	46,099		KHD Humboldt Wedag International AG.		272
	55,739		Kier Group plc		995
	171,937		Kinden Corp		1,129
	192,000		King Slide Works Co Ltd		1,497
	188,410		Kingspan Group plc		2,322
	49,000		Kinik Co		89
	50,000		Kinki Sharyo Co Ltd		163
	299,700		Kitz Corp		1,563
	119,432	*	Kloeckner & Co AG.		1,694
	1,618,224		KOC Holding AS		9,399
	19,790		Kolon Engineering & Construction Co Ltd		74
	1,393,067	e	Komatsu Ltd		33,318
	3,179		Komax Holding AG.		304
	66,090		Komori Corp		698
	216,609		Kone Oyj (Class B)		17,079
	307,328		Koninklijke BAM Groep NV		1,247
	1,230,284		Koninklijke Philips Electronics NV		36,400
	14,708	*	Koor Industries Ltd		203
	72,525	*	Kopex S.A.		344
	47,890	e	Korea Aerospace Industries Ltd		1,114

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,090		Korea Electric Terminal Co Ltd	$	568
	136,629	*,e	Kratos Defense & Security Solutions, Inc		687
	16,045		Krones AG.		1,140
	235		KSB AG.		148
	484,757		Kubota Corp		7,034
	31,690	*	KUKA AG.		1,386
	5,000	e	Kumho Electric Co Ltd		139
	7,795	*,e	Kumho Industrial Co Ltd		104
	100,710		Kurita Water Industries Ltd		2,236
	94,579	e	Kuroda Electric Co Ltd		1,131
	89,600	e	Kyokuto Kaihatsu Kogyo Co Ltd		944
	67,000		Kyosan Electric Manufacturing Co Ltd		233
	122,500		Kyowa Exeo Corp		1,317
	83,000		Kyudenko Corp		375
	299,993		L-3 Communications Holdings, Inc		24,275
	1,074		Lakshmi Machine Works Ltd		36
	1,161,918	*	Lanco Infratech Ltd		221
	288,443		Larsen & Toubro Ltd		7,271
	67,460	*	Layne Christensen Co		1,442
	58,038		LB Foster Co (Class A)		2,571
	205,192		Legrand S.A.		8,952
	146,259	e	Leighton Holdings Ltd		3,150
	393,283		Lennox International, Inc		24,970
	380,000		Leoch International Technology Ltd		51
	127,293		LG Corp		7,434
	10,862	e	LG Hausys Ltd		828
	77,170		LG International Corp		2,941
	421,512		Lincoln Electric Holdings, Inc		22,838
	80,310	e	Lindab International AB		647
	65,739	e	Lindsay Manufacturing Co		5,797
	4,131		LISI		401
	189,391	e	LIXIL Group Corp		3,779
	33,638	*	LMI Aerospace, Inc		699
	506,281		Lockheed Martin Corp		48,866
	159,000		Longwell Co		141
	8,379,000	e	Lonking Holdings Ltd		1,922
	1,719,936	*,e	Lonrho plc		173
	24,077		LS Cable Ltd		1,919
	19,744		LS Industrial Systems Co Ltd		1,089
	78,142		LSI Industries, Inc		545
	134,000	*	Luoyang Glass Co Ltd		29
	58,832	*	Lydall, Inc		903
	13,260		Mabuchi Motor Co Ltd		717
	174,021	e	MACA Ltd		531
	4,723,107		Macmahon Holdings Ltd		1,144
	175,000		Maeda Corp		709
	175,000		Maeda Road Construction Co Ltd		2,395
	156,247	*	Maire Tecnimont S.p.A.		75
	168,748	e	Makino Milling Machine Co Ltd		1,055
	107,911	*	Makita Corp		4,811
	449,249		Malaysia Marine and Heavy Engineering Sdn BHD		550
	2,224,300		Malaysian Resources Corp BHD		1,044

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,666		MAN AG.	$	718
	12,016	e	Manitou BF S.A.		172
	430,457	e	Manitowoc Co, Inc		8,850
	262,700		Marcopolo S.A.		1,866
	3,922,636		Marubeni Corp		30,032
	1,788,131		Masco Corp		36,210
	191,968	*,e	Mastec, Inc		5,596
	72,000		Max Co Ltd		892
	137,165		MAX India Ltd		566
	673,346		Meggitt plc		5,038
	236,000	e	Meidensha Corp		713
	29,000	e	Meiwa Corp		129
	926,103		Melrose Industries plc		3,751
	65,248		Metka S.A.		849
	54,877	e	Met-Pro Corp		567
	388,467	e	Metso Oyj		16,598
	59,864	*,e	Meyer Burger Technology AG.		472
	41,742		Michael Baker Corp		1,023
	66,003		Micron Machinery Co Ltd		1,597
	70,464	*,e	Middleby Corp		10,721
	65,366		Miller Industries, Inc		1,049
	292,500		Mills Estruturas e Servicos de		4,719
	1,610,000	e	Minebea Co Ltd		5,544
	190,900		Miraito Holdings Corp		1,955
	99,200		MISUMI Group, Inc		2,745
	2,388,258	e	Mitsubishi Corp		44,980
	944,478		Mitsubishi Electric Corp		7,683
	3,477,800		Mitsubishi Heavy Industries Ltd		20,121
	109,700		Mitsuboshi Belting Co Ltd		583
	3,444,497	e	Mitsui & Co Ltd		48,561
	1,901,304	e	Mitsui Engineering & Shipbuilding Co Ltd		3,461
	307,000	e	Mitsui Matsushima Co Ltd		604
	31,600		Miura Co Ltd		817
	4,088,774		MMC Corp BHD		3,363
	1,023,811	e	Monadelphous Group Ltd		24,292
	44,700	e	MonotaRO Co Ltd		2,187
	198,737	*	Moog, Inc (Class A)		9,108
	624,200		Morgan Crucible Co plc		2,687
	40,262		Morgan Sindall plc		340
	111,100	e	Mori Seiki Co Ltd		1,360
	308,198		Mota Engil SGPS S.A.		734
	356,087	*	MRC Global, Inc		11,726
	187,999		MSC Industrial Direct Co (Class A)		16,127
	77,951		MTU Aero Engines Holding AG.		7,398
	726,166		Mudajaya Group BHD		568
	134,266		Mueller Industries, Inc		7,155
	829,472		Mueller Water Products, Inc (Class A)		4,919
	267,700		Muhibbah Engineering M BHD		105
	902,504	*	Murray & Roberts Holdings Ltd		2,306
	120,046	*	MYR Group, Inc		2,948
	26,210	e	Nabtesco Corp		538
	217,332		Nachi-Fujikoshi Corp		939

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	86,810		Nagarjuna Construction Co	$	53
	269,600	e	Nagase & Co Ltd		3,343
	69,400		Namura Shipbuilding Co Ltd		402
	16,564		National Presto Industries, Inc		1,333
	189,125	*,e	Navistar International Corp		6,538
	14,179	e	NCC AB		354
	106,300		NCC AB (B Shares)		2,665
	96,624	*	NCI Building Systems, Inc		1,678
	37,700		NEC Capital Solutions Ltd		927
	10,404	*,m	Neo Holdings Co		0	^
	454,351	*	Neo-Neon Holdings Ltd		102
	26,134		Nexans S.A.		1,202
	192,050	e	NGK Insulators Ltd		2,052
	105,541	e	Nibe Industrier AB (Series B)		1,840
	130,000		Nichias Corp		783
	8,000		Nichiden Corp		203
	48,900		Nichiha Corp		730
	53,391	e	Nidec Corp		3,200
	121,000		Nippo Corp		1,494
	155,000		Nippon Carbon Co Ltd		364
	79,000		Nippon Densetsu Kogyo Co Ltd		835
	128,000		Nippon Koei Co Ltd		522
	274,000		Nippon Road Co Ltd		1,198
	93,730	e	Nippon Sharyo Ltd		424
	1,210,000		Nippon Sheet Glass Co Ltd		1,348
	179,200		Nippon Signal Co Ltd		1,408
	65,000		Nippon Steel Trading Co Ltd		209
	92,000		Nippon Thompson Co Ltd		470
	385,000		Nishimatsu Construction Co Ltd		654
	26,200		Nishio Rent All Co Ltd		478
	160,000		Nisshinbo Industries, Inc		1,116
	63,000	e	Nissin Electric Co Ltd		299
	24,300		Nitta Corp		463
	246,000	*	Nitto Boseki Co Ltd		942
	81,600		Nitto Kogyo Corp		1,213
	13,973		Nitto Kohki Co Ltd		269
	24,460		NK Co Ltd		88
	77,360	e	NKT Holding AS		2,876
	59,178	*	NN, Inc		560
	503,119		Noble Group Ltd		496
	51,800	*,e	Nordex AG.		323
	296,824		Nordson Corp		19,576
	302,919		Noritake Co Ltd		749
	50,900		Noritz Corp		1,014
	77,578		NORMA Group		2,447
	37,287	*	Nortek, Inc		2,661
	641,920		Northrop Grumman Corp		45,031
	36,495	*	Northwest Pipe Co		1,021
	1,108,098	e	NRW Holdings Ltd		1,920
	454,482	e	NSK Ltd		3,469
	1,194,000		NTN Corp		3,205
	2,150,888		NWS Holdings Ltd		3,834

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,300		Obara Corp	$	255
	1,049,809		Obayashi Corp		5,022
	132,573		Obrascon Huarte Lain S.A.		4,369
	249,996		OC Oerlikon Corp AG.		2,971
	10,093		OHB AG.		220
	127,500		Oiles Corp		2,425
	72,500		Okabe Co Ltd		676
	159,641		Okuma Holdings, Inc		1,186
	221,000		Okumura Corp		891
	6,089	e	Omega Flex, Inc		105
	13,600		Onoken Co Ltd		127
	128,064		Orascom Construction Industries		4,541
	211,332	*	Orbital Sciences Corp		3,527
	46,000		Organo Corp		257
	11,200		Orient Paper & Industries Ltd		1
	93,272	*	Orion Marine Group, Inc		927
	100,184		Ormat Industries		600
	82,400		OSG Corp		1,138
	269,246	*	Oshkosh Truck Corp		11,440
	485,936	e	Outotec Oyj		7,146
	400,150	*	Owens Corning, Inc		15,778
	1,067,018		Paccar, Inc		53,948
	17,261		Palfinger AG.		501
	468,752		Pall Corp		32,049
	1,180,676		Parker Hannifin Corp		108,126
	9,428	*,e	Patrick Industries, Inc		149
	221,257		Peab AB (Series B)		1,242
	1,067,012		Pentair Ltd		56,285
	340,500	e	Penta-Ocean Construction Co Ltd		877
	166,762	*,e	Perini Corp		3,219
	11,804		Pfeiffer Vacuum Technology AG.		1,306
	49,388	*,e	Pgt, Inc		339
	107,000		Phihong Technology Co Ltd		87
	77,992		Pike Electric Corp		1,110
	15,495	*	Pinguely-Haulotte		136
	603,843	*	Pipavav Shipyard Ltd		816
	39,035		Pkc Group Oyj		906
	7,486		Plasson		243
	116,697	*,e	PMFG, Inc		720
	112,300		Polyplex PCL		48
	316,322	*,e	Polypore International, Inc		12,710
	30,382	*	Powell Industries, Inc		1,597
	944,409		Precision Castparts Corp		179,079
	11,809	e	Preformed Line Products Co		826
	174,360	e	Primoris Services Corp		3,855
	120,000	*	Promotora y Operadora de Infraestructura SAB de C.V.		970
	64,612	*,e	Proto Labs, Inc		3,172
	33,576		Prysmian S.p.A.		693
	4,780,000		PT Adhi Karya Persero Tbk		1,529
	3,157,000		PT AKR Corporindo Tbk		1,629
	564,500		PT Hexindo Adiperkasa Tbk		326
	10,613,000		PT Pembangunan Perumahan Tbk		1,315

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,877,500		PT Surya Semesta Internusa Tbk	$	2,155
	2,196,164		PT United Tractors Tbk		4,136
	9,874,500		PT Wijaya Karya		2,063
	751,670		Punj Lloyd Ltd		774
	1,543,435		QinetiQ plc		4,872
	128,071		Quanex Building Products Corp		2,062
	378,175	*	Quanta Services, Inc		10,808
	3,656		R Stahl AG.		138
	170,174	e	Ramirent Oyj		1,614
	528,400		Randon Participacoes S.A.		3,295
	4,076		Rational AG.		1,226
	310,464		Raubex Group Ltd		658
	125,098	e	Raven Industries, Inc		4,205
	798,524		Raytheon Co		46,945
	76,187	*	RBC Bearings, Inc		3,852
	363,740		Rechi Precision Co Ltd		321
	274,219		Regal-Beloit Corp		22,365
	189,909	e	Reunert Ltd		1,590
	3,859,368		Rexel S.A.		84,270
	134,150	*,e	Rexnord Corp		2,848
	104,976		Rheinmetall AG.		4,870
	304,365		Rich Development Co Ltd		164
	3,160,000	*,m	Richly Field China Development		18
	3,762		Rieter Holding AG.		639
	929,077		Rockwell Automation, Inc		80,226
	1,149,372		Rockwell Collins, Inc		72,548
	12,557		Rockwool International AS (B Shares)		1,534
	3,239,851		Rolls-Royce Group plc		55,749
	1,460,038		Roper Industries, Inc		185,877
	4,235		Rosenbauer International AG.		285
	331,000		Rotary Engineering Ltd		138
	127,084		Rotork plc		5,616
	129,588	*	Rush Enterprises, Inc (Class A)		3,126
	155,533	e	Russel Metals, Inc		4,419
	166,000		Ryobi Ltd		413
	15,330		S&T Holdings Co Ltd		159
	87,134	e	Saab AB (Class B)		1,889
	384,659		Safran S.A.		17,168
	27,641		Saft Groupe S.A.		712
	533,199		Salfacorp S.A.		1,181
	233,975		Samsung Corp		14,483
	36,100		Samsung Engineering Co Ltd		4,186
	480,466		Samsung Heavy Industries Co Ltd		15,274
	42,033	e	Samsung Techwin Co Ltd		2,492
	367,370		San Miguel Corp		1,036
	242,000		San Shing Fastech Corp		376
	736,743		Sandvik AB		11,365
	121,003		Sanki Engineering Co Ltd		652
	27,800	*	Sankyo Tateyama, Inc		577
	537,000		Sanwa Shutter Corp		2,791
	1,348,000	e	Sany Heavy Equipment International		625
	98,000		Sanyo Denki Co Ltd		712
	53,030	e	Sauer-Danfoss, Inc		3,099

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,343,636		Scania AB (B Shares)	$	28,189
	6,578		Schindler Holding AG.		965
	6,335		Schindler Holding AG. (Reg)		904
	41,890		Schneider Electric Infrastructure Ltd		56
	419,470		Schneider Electric S.A.		30,675
	32,086		Schouw & Co		1,105
	1,046		Schweiter Technologies AG.		647
	38,017		SeaCube Container Leasing Ltd		873
	165,209		Sedgman Ltd		154
	80,000		Seika Corp		214
	143,000		Sekisui Jushi Corp		1,873
	1,128,924		SembCorp Industries Ltd		4,740
	1,361,273	e	SembCorp Marine Ltd		4,884
	15,716	e	Semperit AG. Holding		606
	913,743		Senior plc		3,318
	69,881	*	Sensata Technologies Holding BV		2,297
	43,670	e	SGL Carbon AG.		1,722
	385,308	*	SGSB Group Co Ltd		182
	144,200	*	Shanghai Automation Instrumentation Co Ltd		83
	754,880		Shanghai Diesel Engine Co Ltd		580
	15,074,300		Shanghai Electric Group Co Ltd		5,890
	746,600	*	Shanghai Erfangji Co Ltd		482
	605,800		Shanghai Highly Group Co Ltd		353
	1,815,100		Shanghai Industrial Holdings Ltd		5,722
	218,200	*	Shanghai Lingyun Industries Development Co Ltd		129
	131,800		Shanghai Material Trading Co Ltd		66
	599,420		Shanghai Mechanical and Electrical Industry Co Ltd		677
	438,400		Shanghai Waigaoqiao Free Trade Zone Development Co Ltd		425
	342,823		ShenMao Technology, Inc		380
	584,000		Shihlin Electric & Engineering Corp		692
	526,137		Shikun & Binui Ltd		1,108
	29,100		Shima Seiki Manufacturing Ltd		658
	443,933	e	Shimizu Corp		1,457
	184,000		Shin Zu Shing Co Ltd		558
	124,000		Shinko Electric Co Ltd		218
	472,590		Shinmaywa Industries Ltd		3,751
	124,000		Shinsho Corp		247
	23,900	e	SHO-BOND Holdings Co Ltd		871
	560,800		Siam Future Development PCL		191
	1,024,138		Siemens AG.		110,401
	58,181		Siemens India Ltd		588
	6,307		SIFCO Industries, Inc		116
	1,110,977		SIG plc		2,677
	504,669		Silitech Technology Corp		931
	3,258,071		Sime Darby BHD		9,751
	190,534	e	Simpson Manufacturing Co, Inc		5,832
	1,834,000		Singamas Container Holdings Ltd		480
	1,327,416		Singapore Technologies Engineering Ltd		4,624
	2,526,557		Sino Thai Engineering & Construction PCL		2,394
	433,988		Sintex Industries Ltd		369
	46,300		Sintokogio Ltd		417

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,275		SK Corp	$	4,917
	144,770		SK Networks Co Ltd		990
	38,296		Skanska AB (B Shares)		694
	2,055,460		SKF AB (B Shares)		50,225
	6,197		SKF India Ltd		63
	395,715		SM Investments Corp		10,831
	6,949		SMC Corp		1,349
	1,259,622		Smiths Group plc		24,124
	296,526		Snap-On, Inc		24,523
	122,339		SNC-Lavalin Group, Inc		5,121
	438,016		SOCAM Development Ltd		539
	147,200		Sodick Co Ltd		914
	6,801,886		Sojitz Holdings Corp		10,675
	6,876		Solar Holdings AS (B Shares)		345
	38,275	*	SolarCity Corp		725
	2,491,383		Sonae SPGS S.A.		2,238
	879,138		Speedy Hire plc		651
	102,180		Spirax-Sarco Engineering plc		4,181
	311,409	*	Spirit Aerosystems Holdings, Inc (Class A)		5,914
	293,256		SPX Corp		23,155
	67,401		Standex International Corp		3,722
	396,238		Stanley Works		32,083
	76,723		Stefanutti Stocks Holdings Ltd		76
	98,233	*	Sterling Construction Co, Inc		1,070
	31,646	e	Strabag SE		709
	32,049	e	STX Corp Co Ltd		201
	13,890	e	STX Engine Co Ltd		97
	751,000	e	STX OSV Holdings Ltd		742
	58,750	e	STX Shipbuilding Co Ltd		352
	3,514		Sulzer AG.		601
	331,000		Sumikin Bussan Corp		1,132
	1,782,820	e	Sumitomo Corp		22,549
	31,500		Sumitomo Densetsu Co Ltd		433
	784,253		Sumitomo Electric Industries Ltd		9,650
	2,566,628		Sumitomo Heavy Industries Ltd		10,192
	43,000		Sumitomo Precision Products Co Ltd		192
	84,246		Sun Hydraulics Corp		2,739
	28,990	*,e	Sung Jin Geotec Co Ltd		283
	13,371		Sung Kwang Bend Co Ltd		275
	373,000		Sunonwealth Electric Machine Industry Co Ltd		243
	148,000		Sunspring Metal Corp		163
	648,661	*	Suzlon Energy Ltd		163
	329,000	e	SWCC Showa Holdings Co Ltd		327
	605,228		Swisslog Holding AG.		784
	67,512		Sypris Solutions, Inc		282
	1,176,370		Ta Ya Electric Wire & Cable		280
	133,000		Tadano Ltd		1,510
	10,658	*,e	Taewoong Co Ltd		223
	104,420		Taeyoung Engineering & Construction		577
	48,319	*	Taihan Electric Wire Co Ltd		134
	101,000		Taihei Dengyo Kaisha Ltd		650
	79,000		Taihei Kogyo Co Ltd		286

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	56,555		Taikisha Ltd	$	1,271
	731,066	e	Taisei Corp		2,034
	1,102,472		Taiwan Glass Industrial Corp		1,014
	10,100		Takaoka Toko Holdings Co Ltd		159
	125,929		Takara Standard Co Ltd		989
	154,800		Takasago Thermal Engineering Co Ltd		1,286
	149,000		Takuma Co Ltd		909
	104,044	e	TAL International Group, Inc		4,714
	381,030	*	Taser International, Inc		3,029
	326,000	e	Tat Hong Holdings Ltd		402
	46,000	e	Tatsuta Electric Wire and Cable Co Ltd		277
	2,664,233		Teco Electric and Machinery Co Ltd		2,123
	312,103	*	Teledyne Technologies, Inc		24,481
	105,672		Tennant Co		5,131
	2,006,816	*	Terex Corp		69,075
	42,973	e	Textainer Group Holdings Ltd		1,700
	3,935,334	e	Textron, Inc		117,312
	196,650		Thales S.A.		8,322
	7,700	*	The ExOne Company		258
	22,707		Thermax Ltd		235
	111,359	*	Thermon Group Holdings		2,473
	195,293	e	THK Co Ltd		3,880
	1,360,000	*	Tianjin Development Hldgs		1,085
	321,688		Timken Co		18,201
	165,402	e	Titan International, Inc		3,487
	59,121	*,e	Titan Machinery, Inc		1,641
	23,386	*	TK Corp		513
	246,000		Toa Corp/Tokyo		349
	14,000		Tocalo Co Ltd		206
	372,000	e	Toda Corp		888
	70,000		Toenec Corp		341
	187,200		Tokai Corp		658
	64,000		Tokyo Energy & Systems, Inc		328
	96,060	e	Tokyu Construction Co Ltd		221
	53,978		Tong-Tai Machine & Tool Co Ltd		43
	178,625		Topco Technologies Corp		404
	23,000		Torishima Pump Manufacturing Co Ltd		187
	282,181	e	Toro Co		12,992
	124,242	e	Toromont Industries Ltd		2,851
	493,964		Toshiba Machine Co Ltd		2,440
	45,000		Toshiba Plant Systems & Services Corp		553
	25,400	e	Totetsu Kogyo Co Ltd		418
	248,297		Toto Ltd		2,231
	337,800		Toyo Construction Co Ltd		1,042
	160,000		Toyo Engineering Corp		700
	10,500	e	Toyo Tanso Co Ltd		258
	476,201		Toyota Tsusho Corp		12,208
	777,000		Tradewinds Corp BHD		258
	217,766		Trakya Cam Sanayi AS		341
	302,325		TransDigm Group, Inc		46,232
	5,911,411		Travis Perkins plc		130,897
	1,087,621		Trelleborg AB (B Shares)		14,972

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,981	e	Trevi Finanziaria S.p.A.	$	275
	88,917	*	Trex Co, Inc		4,373
	201,533	*	Trimas Corp		6,544
	147,971		Trinity Industries, Inc		6,708
	232,202		Triumph Group, Inc		18,228
	22,831		Triveni Turbine Ltd		22
	47,262		Trusco Nakayama Corp		942
	168,000		Tsubakimoto Chain Co		865
	70,000	e	Tsugami Corp		405
	46,000		Tsukishima Kikai Co Ltd		430
	1,877,000		Tuan Sing Holdings Ltd		546
	526,539		Turk Sise ve Cam Fabrikalari AS		894
	81,945		Turk Traktor ve Ziraat Makineleri AS		2,697
	27,976	e	Twin Disc, Inc		702
	87,264		Ultra Electronics Holdings		2,284
	11,700		Union Tool Co		240
	211,172	*,e	Unison Co Ltd		1,315
	205,000		United Engineers Ltd		527
	504,378	e	United Group Ltd		5,385
	404,000		United Integrated Services Co Ltd		382
	363,691	*,e	United Rentals, Inc		19,992
	2,011,534		United Technologies Corp		187,938
	107,639		Universal Forest Products, Inc		4,285
	75,476	e	Uponor Oyj		1,028
	218,165		URS Corp		10,343
	321,686	*,e	USG Corp		8,505
	1,407,785	e	Ushio, Inc		14,412
	103,092		Vallourec		4,959
	163,434		Valmont Industries, Inc		25,703
	243,086	*,e	Vestas Wind Systems AS		1,949
	1,662,089		Vesuvius plc		8,960
	77,843		Vicor Corp		387
	1,092,660		Vinci S.A.		49,320
	136,975		Voltas Ltd		190
	159,022	e	Volvo AB (B Shares)		2,322
	91,793	*,e	Von Roll Holding AG.		192
	6,141		Vossloh AG.		614
	352,335		W.W. Grainger, Inc		79,268
	232,564	*	Wabash National Corp		2,363
	461,923	*	WABCO Holdings, Inc		32,607
	35,785		Wacker Construction Equipment AG.		519
	280,300		Wafangdian Bearing Co Ltd		208
	22,938	e	Wajax Income Fund		862
	94,000		Wakita & Co Ltd		1,001
	4,036,350	*	Walsin Lihwa Corp		1,161
	1,790		Walter Meier AG.		534
	13,476		Wartsila Oyj (B Shares)		607
	106,057		Watsco, Inc		8,928
	126,158		Watts Water Technologies, Inc (Class A)		6,054
	397,000		Ways Technical Corp Ltd		965
	1,423,700		WCT Berhad		1,109
	24,500		Weg S.A.		316

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	248,880		Wei Mon Industry Co Ltd	$	93
	955,300	e	Weichai Power Co Ltd		3,193
	227,707		Weir Group plc		7,856
	128,520		Well Shin Technology Co Ltd		195
	223,019	*,e	WESCO International, Inc		16,193
	161,963		Westinghouse Air Brake Technologies Corp		16,538
	62,705	*,e	Westport Innovations, Inc		1,853
	2,836,292	e	Wienerberger AG.		33,866
	12,926	*	Willis Lease Finance Corp		195
	165,768		Wilson Bayly Holmes-Ovcon Ltd		2,781
	618,344		Wolseley plc		30,838
	304,763		Woodward Governor Co		12,117
	26,127	e	Wooree ETI Co Ltd		114
	22,511	e	XP Power Ltd		431
	127,137		Xxentria Technology Materials Corp		252
	297,222		Xylem, Inc		8,191
	11,360	e	Y G-1 Co Ltd		134
	36,000		Yahagi Construction Co Ltd		155
	57,700		Yamazen Corp		382
	4,221,370	e	Yangzijiang Shipbuilding		3,318
	140,637		Yazicilar Holding AS		1,555
	272,951	e	YIT Oyj		5,702
	43,000		Yokogawa Bridge Holdings Corp		364
	480,000	e	Yoma Strategic Holdings Ltd		295
	22,070	e	Young Poong Precision Corp		205
	5,190,000	e	Yuanda China Holdings Ltd		530
	236,000		Yuasa Trading Co Ltd		501
	548,000		Yungtay Engineering Co Ltd		1,073
	53,000		Yurtec Corp		166
	12,100		Yushin Precision Equipment Co Ltd		235
	52,655		Zardoya Otis S.A.		706
	12,160		Zehnder Group AG.		528
	626,300	e	Zhuzhou CSR Times Electric Co Ltd		1,784
	26,685		Zodiac S.A.		3,111
	31,286		Zumtobel AG.		362
			TOTAL CAPITAL GOODS		8,959,175
COMMERCIAL & PROFESSIONAL SERVICES - 1.3%
	61,365		Aangpanneforeningen AB (B Shares)		1,810
	220,045		ABM Industries, Inc		4,894
	251,105	*	Acacia Research (Acacia Technologies)		7,576
	432,887	*	ACCO Brands Corp		2,892
	63,973	e	Acorn Energy, Inc		470
	29,793		Adcorp Holdings Ltd		99
	1,312,702		Adecco S.A.		71,999
	109,859		Administaff, Inc		3,117
	2,581,458		ADT Corp		126,337
	172,523	*	Advisory Board Co		9,061
	22,200		Aeon Delight Co Ltd		492
	75,245		Aggreko plc		2,042
	14,124	e	Akka Technologies S.A.		391
	258,994		ALS Ltd		2,841

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	154,525		American Banknote S.A.	$	2,982
	106,083		American Ecology Corp		2,816
	160,109	*	ARC Document Solutions, Inc		477
	16,650,000	*	Asia Energy Logistics Group Ltd		171
	27,540		Assystem		575
	39,557	*	AT Cross Co		545
	211,018		Atkins WS plc		2,929
	220,466		Avery Dennison Corp		9,495
	288,737		Babcock International Group		4,781
	43,220	e	Barrett Business Services, Inc		2,276
	18,030		Bertrandt AG.		2,108
	156,150	e	BFI Canada Ltd		3,306
	95,769		Bilfinger Berger AG.		9,962
	44,000		Black Diamond Group Ltd		912
	296,699		Blue Label Telecoms Ltd		255
	2,262,577		Brambles Ltd		20,061
	238,315		Brink’s Co		6,735
	33,819		Brunel International		1,431
	77,962		Bureau Veritas S.A.		9,706
	12,237		BWT AG.		250
	145,427	e	Cabcharge Australia Ltd		695
	161,195		Cape plc		768
	998,321		Capita Group plc		13,646
	98,951	*	Casella Waste Systems, Inc (Class A)		432
	124,651	*,e	CBIZ, Inc		795
	48,009		CDI Corp		826
	50,187		Ceco Environmental Corp		649
	190,958	*,e	Cenveo, Inc		411
	4,681		Cewe Color Holding AG.		198
	7,660,100	e	China Everbright International Ltd		5,518
	261,678		Cintas Corp		11,548
	132,035	*,e	Clean Harbors, Inc		7,670
	220,000		Cleanaway Co Ltd		1,653
	2,271	e	Compx International, Inc		29
	49,896	*	Consolidated Graphics, Inc		1,951
	94,800		Contax Participacoes S.A.		1,239
	477,988	*,e	Coolbrands International, Inc		617
	608,659	*	Copart, Inc		20,865
	158,681		Corporate Executive Board Co		9,229
	243,865		Corrections Corp of America		9,528
	42,056		Courier Corp		606
	255,572	e	Covanta Holding Corp		5,150
	38,026	*	CRA International, Inc		851
	102,939		Credit Corp Group Ltd		959
	720,102	e	Dai Nippon Printing Co Ltd		6,880
	41,500	e	Daiseki Co Ltd		705
	328,728		Davis Service Group plc		3,921
	120,065		De La Rue plc		1,781
	179,197		Deluxe Corp		7,419
	114,315		Derichebourg		453
	115,331	*	Dolan Media Co		276

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	836,528		Downer EDI Ltd	$	4,348
	112,796	e	Dun & Bradstreet Corp		9,435
	55,698		Duskin Co Ltd		1,126
	2,323,000	*	Eastern Media International Corp		312
	3,342,903		Edenred		109,558
	454,970	*	EnergySolutions, Inc		1,706
	137,787	*	EnerNOC, Inc		2,393
	90,288		Ennis, Inc		1,361
	380,035		Equifax, Inc		21,886
	1,950,326		Experian Group Ltd		33,803
	80,585	e	Exponent, Inc		4,347
	1,158,000	*,e,m	Fook Woo Group Holdings Ltd		101
	54,795	*,e	Franklin Covey Co		796
	152,388	*,e	FTI Consulting, Inc		5,739
	15,463,000		Fung Choi Media Group Ltd		1,783
	74,778		G & K Services, Inc (Class A)		3,403
	68,573		Gategroup Holding AG.		1,289
	48,600		Genivar Income Fund		1,129
	277,829		Geo Group, Inc		10,452
	9,568		GL Events		208
	59,559	*,e	GP Strategies Corp		1,421
	1,074,427		Group 4 Securicor plc		4,774
	60,817		Gunnebo AB		296
	1,857,256		Hays plc		2,733
	244,314		Healthcare Services Group		6,262
	125,439		Heidrick & Struggles International, Inc		1,875
	25,857	*,e	Heritage-Crystal Clean, Inc		390
	200,935		Herman Miller, Inc		5,560
	101,015	*	Hill International, Inc		302
	156,346		HNI Corp		5,549
	611,253		Homeserve plc		1,862
	123,019	*,e	Hudson Highland Group, Inc		485
	90,952	*	Huron Consulting Group, Inc		3,667
	78,435	*	ICF International, Inc		2,133
	547,716	*	ICO Global Communications Holdings Ltd		909
	126,356	*	IHS, Inc (Class A)		13,232
	104,291	*,e	Innerworkings, Inc		1,579
	202,743		Interface, Inc		3,897
	62,560	e	Intersections, Inc		589
	362,583		Intertek Group plc		18,736
	269,300		Intrum Justitia AB		5,207
	106,080	*	Ipek Matbacilik Sanayi Ve Ticaret AS		312
	413,074		Iron Mountain, Inc		14,999
	514,659		ITE Group plc		2,134
	88,000	e	Itoki Corp		609
	3,805		Kaba Holding AG.		1,482
	37,543		KAR Auction Services, Inc		752
	95,256	e	Kelly Services, Inc (Class A)		1,779
	17,832		KEPCO Plant Service & Engineering Co Ltd		899
	127,165		Kforce, Inc		2,082
	486,800	e	K-Green Trust		434
	121,093		Kimball International, Inc (Class B)		1,097

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	181,018		Knoll, Inc	$	3,282
	230,900		Kokuyo Co Ltd		1,776
	244,821	*	Korn/Ferry International		4,372
	196,000		Kyodo Printing Co Ltd		595
	487,000		L&K Engineering Co Ltd		468
	72,967		Loomis AB		1,363
	241,246		Manpower, Inc		13,683
	16,162		Matsuda Sangyo Co Ltd		248
	86,892		McGrath RentCorp		2,702
	147,053		McMillan Shakespeare Ltd		2,255
	157,819	e	Mears Group plc		820
	36,700		Meitec Corp		929
	141,129	*,e	Metalico, Inc		229
	604,263		Michael Page International plc		3,894
	138,156		Mine Safety Appliances Co		6,855
	641,805	e	Mineral Resources Ltd		7,125
	53,946	*	Mistras Group, Inc		1,306
	930,905		Mitie Group		3,978
	22,072		Mitsubishi Pencil Co Ltd		405
	152,081	*	Mobile Mini, Inc		4,476
	98,960	e	Morneau Sobeco Income Fund		1,273
	125,683	e	Moshi Moshi Hotline, Inc		1,793
	48,689	e	Multi-Color Corp		1,256
	58,400		Multiplus S.A.		861
	183,527	*	Navigant Consulting, Inc		2,412
	65,407		Newalta, Inc		940
	740,202		Nielsen Holdings NV		26,514
	11,000		Nihon M&A Center, Inc		485
	6,200		Nippon Kanzai Co Ltd		99
	29,560	e	Nissha Printing Co Ltd		545
	25,602		NL Industries, Inc		318
	249,292	*,e	Odyssey Marine Exploration, Inc		813
	75,000		Okamura Corp		540
	145,566	*	On Assignment, Inc		3,684
	22,768		Oyo Corp		385
	281,800		Park24 Co Ltd		5,517
	224		Pasona Group, Inc		114
	43,800		PayPoint plc		591
	38,300	*	Performant Financial Corp		470
	176		Pilot Corp		467
	420,543	e	Pitney Bowes, Inc		6,249
	49,138		Poyry Oyj		274
	79,293	e	Proffice AB		302
	322,368		Programmed Maintenance Services Ltd		861
	87,300		PRONEXUS, Inc		645
	359,590		Prosegur Cia de Seguridad S.A.		1,992
	125,000	e	Quad		2,992
	533,593	e	R.R. Donnelley & Sons Co		6,430
	84,976		Randstad Holdings NV		3,488
	1,045,162		Regus plc		2,524
	2,367,685		Rentokil Initial plc		3,609
	706,537		Republic Services, Inc		23,316

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	162,042		Resources Connection, Inc	$	2,058
	106,869	e	Ritchie Bros Auctioneers, Inc		2,327
	590,460		Robert Half International, Inc		22,160
	337,111		Rollins, Inc		8,276
	475,978		RPS Group plc		1,935
	185,898	*	RPX Corp		2,623
	22,379	e	S1 Corp (Korea)		1,252
	243,332	e	SAI Global Ltd (New)		855
	21,152	e	Sato Corp		383
	45,700	e	Schawk, Inc (Class A)		502
	4,345		Seche Environnement S.A.		154
	215,058		Secom Co Ltd		11,099
	223,492		Securitas AB (B Shares)		2,106
	455,001	e	Seek Ltd		4,810
	539,419		Serco Group plc		5,156
	4,616		SGS S.A.		11,329
	549,263		Shanks Group plc		657
	17,800		Shenzhen Dongjiang Environmental Co Ltd		98
	518,163		Skilled Group Ltd		1,928
	41,150		Societe BIC S.A.		4,781
	294,700		Sohgo Security Services Co Ltd		4,324
	151,240		Sporton International, Inc		366
	77,088	*	Standard Parking Corp		1,596
	112,504	e	Stantec, Inc		4,963
	415,500		Steelcase, Inc (Class A)		6,120
	549,466	*	Stericycle, Inc		58,342
	156,703		Sthree plc		830
	207,000		Taiwan Secom Co Ltd		467
	498,000		Taiwan-Sogo Shinkong Security Corp		598
	69,469	*,e	Team, Inc		2,853
	134,464		Teleperformance		5,734
	66,800		Temp Holdings Co Ltd		1,147
	281,100	*	Tetra Tech, Inc		8,571
	486,000		Tianjin Capital Environmental Protection Group Co Ltd		200
	87,794	*	TMS International Corp		1,159
	12,400		Tokyu Community Corp		552
	470,249		Tomra Systems ASA		4,589
	163,600		Toppan Forms Co Ltd		1,590
	1,270,944	e	Toppan Printing Co Ltd		9,175
	184,128		Towers Watson & Co		12,764
	95,830	e	Transcontinental, Inc		1,190
	1,270,873		Transfield Services Ltd		2,428
	1,058,777	*	Transpacific Industries Group Ltd		1,094
	67,925	*	TRC Cos, Inc		438
	536,677	*	Tribune Co		30,510
	291,452	*	TrueBlue, Inc		6,161
	4,826,392		Tyco International Ltd		154,445
	143,000		Uchida Yoko Co Ltd		424
	50,761		Unifirst Corp		4,594
	144,561		United Stationers, Inc		5,587
	83,406		USG People NV		716
	1,388,577	*	Verisk Analytics, Inc		85,578

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	135,836		Viad Corp	$	3,757
	22,210	e	VSE Corp		555
	88,237	*	WageWorks, Inc		2,209
	400,459		Waste Connections, Inc		14,409
	1,077,874		Waste Management, Inc		42,263
	7,100	e	Weathernews, Inc		177
	1,090,000		WHK Group Ltd		1,152
	581,686		Yem Chio Co Ltd		381
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,487,291
CONSUMER DURABLES & APPAREL - 1.9%
	1,492,000	e	361 Degrees International Ltd		433
	846,000		Ability Enterprise Co Ltd		775
	36,965		Accell Group		650
	217,843		Adidas-Salomon AG.		22,645
	168,000		Advanced International Multitech Co Ltd		235
	17,402	e	Agabang&Company		121
	417,042		Aksa Akrilik Kimya Sanayii		1,136
	2,714,735		Alok Industries Ltd		411
	51,000		Alpine Electronics, Inc		491
	592,940		Altek Corp		360
	136,656		Amer Sports Oyj (A Shares)		2,259
	156,770	e	American Greetings Corp (Class A)		2,524
	2,629,949		AmTRAN Technology Co Ltd		2,138
	4,567,500	e	Anta Sports Products Ltd		3,915
	271,807		Arcelik AS		1,924
	60,115	*,e	Arctic Cat, Inc		2,627
	68,600		Arezzo Industria e Comercio S.A.		1,381
	65,900	e	Arnest One Corp		1,308
	26,900	e	Aruze Corp		535
	2,910,043		Arvind Ltd		4,147
	135,000	*	Asia Optical Co, Inc		138
	107,751		Asics Corp		1,782
	216,000	e	Atsugi Co Ltd		258
	138,095		Avgol Industries 1953 Ltd		127
	45,150		AVY Precision Technology, Inc		73
	50,191	*,e	Bang & Olufsen AS (B Shares)		449
	1,423,636	*	Barratt Developments plc		5,948
	9,040	*,e	Basic House Co Ltd		157
	41,634	e	Bassett Furniture Industries, Inc		664
	72,290		Bata India Ltd		957
	114,073	*,e	Beazer Homes USA, Inc		1,807
	2,722,000	*	Beijing Properties Holdings Ltd		176
	170,802		Bellway plc		3,374
	44,433	e	Beneteau S.A.		451
	261,881		Berkeley Group Holdings plc		8,133
	22,337,343		Billabong International Ltd		16,995
	775,000	e	Billion Industrial Holdings Ltd		518
	52,707	e	Blyth, Inc		915
	289,945		Bombay Dyeing & Manufacturing Co Ltd		470
	10,195,100	e	Bosideng International Holdings Ltd		3,174
	183,030		Bovis Homes Group plc		2,066

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	405,192		Brookfield Incorporacoes S.A.	$	503
	57,531	*,e	Brunello Cucinelli S.p.A		1,213
	342,343		Brunswick Corp		11,715
	219,779		Burberry Group plc		4,449
	74,780	*,e	BWG Homes ASA		179
	438,530	e	Callaway Golf Co		2,903
	448,617	*	Carter’s, Inc		25,692
	162,931	*,e	Casio Computer Co Ltd		1,274
	24,558	*,e	Cavco Industries, Inc		1,168
	619,000		Cecep Costin New Materials Grp Ltd		259
	49,560	e	Cherokee, Inc		679
	2,296,000	*	Chigo Holding Ltd		57
	2,472,400		China Dongxiang Group Co		383
	3,848,000	e	China Haidian Holdings Ltd		402
	836,000		China Lilang Ltd		521
	26,900		Chofu Seisakusho Co Ltd		614
	99,905		Christian Dior S.A.		16,583
	22,600		Cia Providencia Industria e Comercio S.A.		97
	165,000	*,e	Clarion Co Ltd		216
	72,657	*,e	Clarus Corp		662
	33,200		Cleanup Corp		227
	1,057,794	e	Coach, Inc		52,879
	43,688	e	Columbia Sportswear Co		2,529
	938,745		Compagnie Financiere Richemont S.A.		73,909
	1,134,700	e	Consorcio ARA, S.A. de C.V.		463
	23,800	e	Corona Corp		276
	654,100	*,e	Corp GEO S.A. de C.V. (Series B)		394
	457,831	*	CROCS, Inc		6,785
	46,818		CSS Industries, Inc		1,216
	33,066	e	Culp, Inc		526
	364,281		Cyrela Brazil Realty S.A.		3,124
	30,200		Daidoh Ltd		219
	16,100		Daikoku Denki Co Ltd		438
	251,670	*,e	Deckers Outdoor Corp		14,015
	101,771	*	Delclima		111
	177,341		De’Longhi S.p.A.		2,796
	23,138	*	Delta Apparel, Inc		381
	267,200	*,e	Desarrolladora Homex S.A. de C.V.		404
	54,590		Descente Ltd		366
	58,933		Dorel Industries, Inc (Class B)		2,376
	1,912,059	e	DR Horton, Inc		46,463
	190,274		Eclat Textile Co Ltd		836
	1,916,003	e	Electrolux AB (Series B)		48,840
	248,000		Embry Holdings Ltd		132
	87,594	e	Ethan Allen Interiors, Inc		2,884
	535,200		Even Construtora e Incorporadora S.A.		2,596
	434,000		Evergreen International Holdin		85
	207,000		Ez Tec Empreendimentos e Participacoes S.A.		2,779
	2,713,980	*,m	Fabricato S.A.		30
	250,030		Feng TAY Enterprise Co Ltd		385
	29,900		Fields Corp		518
	510,580	*	Fifth & Pacific Cos, Inc		9,640

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,884	e	Fila Korea Ltd	$	686
	55,300		Fiyta Holdings Ltd		45
	17,640		Flexsteel Industries, Inc		436
	4,598		Forbo Holding AG.		3,007
	1,381,520		Formosa Taffeta Co Ltd		1,265
	240,000		Forus S.A.		1,689
	271,234	*,e	Fossil, Inc		26,201
	83,191	e	Foster Electric Co Ltd		1,146
	175,000		France Bed Holdings Co Ltd		399
	204,000	e	Fujibo Holdings Inc		611
	199,000	e	Fujitsu General Ltd		1,691
	72,700	e	Funai Electric Co Ltd		898
	580,000		Gafisa S.A.		1,160
	196,496	*,e	Garmin Ltd		6,492
	54,909		Genius Electronic Optical Co Ltd		348
	113,353	e	Geox S.p.A.		317
	29,560		Gerry Weber International AG.		1,293
	362,149		Giant Manufacturing Co Ltd		2,047
	62,440	*	G-III Apparel Group Ltd		2,504
	214,331		Gildan Activewear, Inc		8,551
	279,552		Gitanjali Gems Ltd		3,047
	676,637		Glorious Sun Enterprises Ltd		195
	32,000		Goldwin, Inc		194
	470,000	e	Goodbaby International Holding		277
	240,400		Grendene S.A.		2,557
	83,176	e	GUD Holdings Ltd		623
	1,388,000	e	Gunze Ltd		3,608
	1,407,400	*,e	Haier Electronics Group Co Ltd		2,246
	13,500	e	Hajime Construction Co Ltd		789
	16,140	e	Handsome Co Ltd		422
	867,640	*	Hanesbrands, Inc		39,530
	16,439		Hansae Co Ltd		231
	27,650	e	Hanssem Co Ltd		535
	97,133		Harman International Industries, Inc		4,335
	160,633	e	Hasbro, Inc		7,058
	1,873,500	*	Haseko Corp		1,741
	15,264		Hefei Meiling Co Ltd		8
	46,500		Heiwa Corp		927
	290,700		Helbor Empreendimentos S.A.		1,942
	121,818	*	Helen of Troy Ltd		4,673
	1,478,000	*	Hisense Kelon Electrical Holdings Co Ltd		745
	33,848	e	Hooker Furniture Corp		540
	401,895	*,e	Hovnanian Enterprises, Inc (Class A)		2,319
	20,157		Hugo Boss AG.		2,264
	346,185		Husqvarna AB (B Shares)		2,048
	118,180		Huvis Corp		1,321
	11,066		IC Companys AS		255
	303,084	*,e	Iconix Brand Group, Inc		7,841
	47,239		Indesit Co S.p.A.		372
	274,300	*	Inpar S.A.		107
	910,000		International Taifeng Holdings Ltd		254

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	111,281	*,e	iRobot Corp	$	2,855
	150,565	e	Jakks Pacific, Inc		1,579
	38,000	e	Japan Vilene Co Ltd		200
	86,000		Japan Wool Textile Co Ltd		666
	3,307,168	*,e	Jarden Corp		141,712
	203,699	*	Jinshan Development & Construction Co Ltd		103
	233,960		JM AB		5,559
	78,289		Johnson Health Tech Co Ltd		217
	27,758	*	Johnson Outdoors, Inc		662
	336,579		Jones Apparel Group, Inc		4,281
	148,200	e	JVC KENWOOD Holdings, Inc		401
	453,225	e	KB Home		9,867
	9,000		Kinko Optical Co Ltd		11
	563,500		Konka Group Co Ltd		187
	124,782	*,e	K-Swiss, Inc (Class A)		591
	270,000		Kurabo Industries Ltd		506
	591,000		Kwong Fong Industries		371
	1,866	*	Kyungbang Ltd		155
	105,720		Lao Feng Xiang Co Ltd		256
	188,867		La-Z-Boy, Inc		3,564
	588,000		Le Saunda Holdings		186
	93,112		Lealea Enterprise Co Ltd		33
	217,354	*,e	Leapfrog Enterprises, Inc		1,861
	588,309	e	Leggett & Platt, Inc		19,873
	223,298	e	Lennar Corp (Class A)		9,262
	167,617	e	LG Electronics, Inc		12,337
	22,070	e	LG Fashion Corp		599
	978,500	*,e	Li Ning Co Ltd		578
	98,179		Li Peng Enterprise Co Ltd		35
	69,850	*	Libbey, Inc		1,350
	37,747		Lifetime Brands, Inc		431
	652,000		Luthai Textile Co Ltd		630
	908,685		Luxottica Group S.p.A.		45,625
	353,607		LVMH Moet Hennessy Louis Vuitton S.A.		60,753
	75,465	*,e	M/I Homes, Inc		1,845
	80,979	*	Maidenform Brands, Inc		1,420
	8,834		Maisons France Confort		270
	486,000		Makalot Industrial Co Ltd		1,822
	1,169,200	e	Man Wah Holdings Ltd		1,120
	6,442	*,m	Mariella Burani S.p.A.		0	^
	43,039	e	Marine Products Corp		317
	8,300		Mars Engineering Corp		177
	2,115,333	e	Matsushita Electric Industrial Co Ltd		15,929
	1,092,951		Mattel, Inc		47,860
	169,596		MDC Holdings, Inc		6,216
	198,600		Merida Industry Co Ltd		1,199
	111,171	*	Meritage Homes Corp		5,209
	119,700		Merry Electronics Co Ltd		191
	561,951	*	Michael Kors Holdings Ltd		31,913
	3,120,000	*	Ming Fung Jewellery Group Ltd		125
	30,400		Misawa Homes Co Ltd		477
	39,000		Mitsui Home Co Ltd		207

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	126,000		Mizuno Corp	$	572
	335,036	*	Mohawk Industries, Inc		37,899
	97,375		Movado Group, Inc		3,264
	393,198		MRV Engenharia e Participacoes S.A.		1,633
	29,203		Nacco Industries, Inc (Class A)		1,558
	900		Nagawa Co Ltd		16
	658,022		Namco Bandai Holdings, Inc		11,640
	62,918	e	New Wave Group AB (B Shares)		353
	2,055,511		Newell Rubbermaid, Inc		53,649
	105,598		Nexity		3,639
	12,900	e	Nidec Copal Corp		89
	517,725		Nien Hsing Textile Co Ltd		369
	2,683,847		Nike, Inc (Class B)		158,374
	88,135	e	Nikon Corp		2,076
	150,468	*,e	Nobia AB		803
	70,760	*	NVR, Inc		76,429
	751,531		Onward Kashiyama Co Ltd		6,758
	29,362		Oriental Weavers		95
	54,014	e	Oxford Industries, Inc		2,868
	1,118,637		Pacific Textile Holdings Ltd		1,206
	252,000		PanaHome Corp		1,803
	300,809	e	Pandora AS		8,303
	1,520,256		PDG Realty S.A.		2,340
	402,000	*,m	Peace Mark Holdings Ltd		0	^
	1,569,000	e	Peak Sport Products Co Ltd		253
	15,000		Pegas Nonwovens S.A.		379
	51,113		Perry Ellis International, Inc		930
	472,509		Persimmon plc		7,697
	571,166		Phillips-Van Heusen Corp		61,006
	363,100	*,e	Pioneer Corp		664
	10,024,857		Playmates Holdings Ltd		9,059
	373,541	e	Polaris Industries, Inc		34,549
	71,428	*	Poltrona Frau S.p.A.		90
	170,752		Pool Corp		8,196
	661,000	e	Ports Design Ltd		553
	2,973,730		Pou Chen Corp		3,182
	250,000	e	Prada S.p.A		2,551
	1,258,200	e	Prime Success International Group Ltd		1,586
	5,567,250		PT Modern Internasional Tbk		574
	1,943,466	*	Pulte Homes, Inc		39,336
	508,686	*,e	Quiksilver, Inc		3,088
	267,001		Rajesh Exports Ltd		602
	172,166		Ralph Lauren Corp		29,149
	130,103		Raymond Ltd		686
	404,889	*	Redrow plc		1,162
	155,700		Restoque Comercio e Confeccoes de Roupas S.A.		718
	24,068	e	RG Barry Corp		322
	23,428		Rinnai Corp		1,670
	30,800		Rodobens Negocios Imobiliarios S.A.		229
	26,300		Roland Corp		226
	1,096,606		Rossi Residencial S.A.		1,671
	291,375		Royale Furniture Holdings Ltd		26

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	524,914		Ruentex Industries Ltd	$	1,218
	160,712	e	Ryland Group, Inc		6,689
	42,644	*	Safilo Group S.p.A.		580
	50,043		Salvatore Ferragamo Italia S.p.A		1,389
	269,000		Sampo Corp		92
	2,384,000		Samson Holding Ltd		455
	12,985,439	e	Samsonite International		32,587
	50,076		Sangetsu Co Ltd		1,341
	10,193		Sankyo Co Ltd		477
	144,000		Sanyo Electric Taiwan Co Ltd		153
	447,000		Sanyo Shokai Ltd		1,418
	27,130		SEB S.A.		1,877
	672,450		Sega Sammy Holdings, Inc		13,500
	132,000		Seiko Holdings Corp		628
	1,299,630		Seiren Co Ltd		8,384
	1,051,054		Sekisui Chemical Co Ltd		11,612
	674,971		Sekisui House Ltd		9,172
	192,500	*	Shanghai Haixin Group Co		89
	1,149,425	*,e	Sharp Corp		3,289
	1,133,000	e	Shenzhou International Group Holdings Ltd		3,189
	59,604		Shimano, Inc		4,879
	221,000		Shinkong Textile Co Ltd		284
	397,000		Sitoy Group Holdings Ltd		190
	186,145	*	Skechers U.S.A., Inc (Class A)		3,937
	51,403	*,e	Skullcandy, Inc		271
	5,283,877		Skyworth Digital Holdings Ltd		3,560
	337,859	*,e	Smith & Wesson Holding Corp		3,041
	876,666		Socovesa S.A.		431
	1,437,384	*,e	Sony Corp		25,012
	29,424		SRF Ltd		92
	32,700		SRI Sports Ltd		368
	426,957	*,e	Standard-Pacific Corp		3,689
	22,476		Star Comgistic Capital Co Ltd		11
	2,073,998	*,e	Steinhoff International Holdings Ltd		5,645
	25,841	*	Steinway Musical Instruments, Inc		621
	732,000	e	Stella International Holdings Ltd		2,202
	235,720	*	Steven Madden Ltd		10,169
	72,070	e	Sturm Ruger & Co, Inc		3,656
	159,454		Sumitomo Forestry Co Ltd		1,771
	282,000		Sunny Optical Technology Group Co Ltd		326
	55,604		Swatch Group AG.		32,417
	175,306		Swatch Group AG. Reg		17,825
	121,000	*,e	Sxl		211
	97,000		Tainan Enterprises Co Ltd		99
	363,000		Tainan Spinning Co Ltd		182
	192,600		Taiwan Paiho Ltd		121
	20,400		Taiwan Sakura Corp		11
	97,693	e	Takamatsu Corp		1,488
	17,300	e	Tamron Co Ltd		373
	1,331,138	*	Tatung Co Ltd		338
	7,707,892		Taylor Woodrow plc		10,684
	1,840,000		TCL Multimedia Technology Holdings Ltd		1,430

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,300		Technos S.A.	$	240
	3,895,617		Techtronic Industries Co		9,533
	140,100		Tecnisa S.A.		586
	198,905	*,e	Tempur-Pedic International, Inc		9,872
	378,000	*	Texhong Textile Group Ltd		361
	752,000		Texwinca Holdings Ltd		796
	447,799	*	Thomson		1,829
	274,077		Titan Industries Ltd		1,295
	65,508	*,e	TK Chemical Corp		102
	14,766		Tod’s S.p.A.		2,120
	6,640		Token Corp		449
	227,355	*	Toll Brothers, Inc		7,785
	133,941	*,e	TomTom NV		535
	72,168	e	Tomy Co Ltd		366
	29,000		Touei Housing Corp		492
	797,624	*,e	TRI Pointe Homes, Inc.		16,072
	13,074		Trigano S.A.		157
	8,858,000	e	Trinity Ltd		4,542
	128,585		True Religion Apparel, Inc		3,357
	367,367	*	Tsann Kuen China Enterprise Co Ltd		229
	210,700		TSI Holdings Co Ltd		1,222
	17,056		TTK Prestige Ltd		1,019
	74,980	*,e	Tumi Holdings, Inc		1,570
	92,000	*	Tuni Textile Mills Ltd		34
	780,090		Tupperware Corp		63,765
	137,105	*,e	Under Armour, Inc (Class A)		7,020
	124,000		UNICASA Industria de Moveis S.A.		595
	48,111	*	Unifi, Inc		919
	624,000	*	Unitika Ltd		347
	55,365	*	Universal Electronics, Inc		1,287
	591,479	*,e	Urbi Desarrollos Urbanos S.A. de C.V		152
	1,476		Vardhman Textiles Ltd		7
	70,664	*,e	Vera Bradley, Inc		1,670
	201,118		Vestel Beyaz Esya Sanayi ve Ticaret AS		298
	179,066	*	Vestel Elektronik Sanayi		199
	417,094		VF Corp		69,968
	259,205		VIP Industries Ltd		291
	254,627	e	Wacoal Holdings Corp		2,760
	247,500	e	Weiqiao Textile Co		138
	2,780,000		Welling Holding Ltd		610
	27,207	e	Weyco Group, Inc		667
	400,948		Whirlpool Corp		47,496
	28,254	*	Whirlpool of India Ltd		115
	201,162	e	Wolverine World Wide, Inc		8,926
	160,780	*,e	Woongjin Chemical Co Ltd		140
	155,550		Woongjin Coway Co Ltd		6,906
	296,131		Wuxi Little Swan Co Ltd		350
	2,736,500	e	XTEP International Holdings		1,063
	113,950		Yamaha Corp		1,109
	98,000		YGM Trading Ltd		283
	22,000		Young Optics, Inc		55
	31,260	e	Youngone Corp		1,195

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,670		Youngone Holdings Co Ltd	$	723
	988,614		Yue Yuen Industrial Holdings		3,230
	85,421	*,e	Zagg, Inc		622
	20,970		Zeng Hsing Industrial Co Ltd		84
	10,000	*	Zhonglu Co Ltd		8
	25,115		Zig Sheng Industrial Co Ltd		8
			TOTAL CONSUMER DURABLES & APPAREL		2,151,153
CONSUMER SERVICES - 2.0%
	242,353		888 Holdings plc		620
	94,600		Abril Educacao S.A.		2,224
	12,586		Accor S.A.		438
	1,190		Accordia Golf Co Ltd		1,157
	262,926		Advtech Ltd		200
	134,399	*	AFC Enterprises		4,883
	70,504		Ainsworth Game Technology Ltd		264
	711,000	e	Ajisen China Holdings Ltd		565
	1,873,750	*,e	Alsea SAB de C.V.		5,382
	255,000		Ambassador Hotel		248
	69,991	*,e	American Public Education, Inc		2,442
	130,296		Ameristar Casinos, Inc		3,418
	187,500		Anhanguera Educacional Participacoes S.A.		3,025
	245,002	*,e	Apollo Group, Inc (Class A)		4,261
	554,126	e	Aristocrat Leisure Ltd		2,121
	53,744	*	Ascent Media Corp (Series A)		4,001
	58,300	e	Atom Corp		350
	137,014	e	Autogrill S.p.A.		1,624
	188,529	*,e	Bally Technologies, Inc		9,798
	96,399		Benesse Corp		4,103
	1,300,135		Berjaya Sports Toto BHD		1,744
	91,323		BETFAIR Group Ltd		979
	37,115		Betsson AB (Series B)		1,196
	91,844	*,e	BJ’s Restaurants, Inc		3,057
	20,952,400	*	Bloomberry Resorts Corp		7,303
	459,358	*	Bloomin’ Brands, Inc		8,209
	45,730	*	Bluegreen Corp		450
	107,082		Bob Evans Farms, Inc		4,564
	211,633	*,e	Boyd Gaming Corp		1,750
	70,471	*	Bravo Brio Restaurant Group, Inc		1,116
	83,436	*,e	Bridgepoint Education, Inc		854
	20,638	*	Bright Horizons Family Solutions		697
	711,216	e	Brinker International, Inc		26,777
	67,407	*,e	Buffalo Wild Wings, Inc		5,900
	134,543	*,e	Caesars Entertainment Corp		2,134
	692,000		Cafe de Coral Holdings Ltd		2,111
	100,261	*	Capella Education Co		3,122
	424,684	*,e	Career Education Corp		1,007
	3,377,173	e	Carnival Corp		115,837
	1,068,304		Carnival plc		37,348
	56,123		Carriage Services, Inc		1,193
	59,515	*,e	Carrols Restaurant Group, Inc		309
	90,873		CBRL Group, Inc		7,347

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	71,361		CEC Entertainment, Inc	$	2,337
	1,301,300		Central Plaza Hotel PCL		1,693
	2,978,040		Century City International		219
	211,322	e	Cheesecake Factory		8,159
	4,480,000		China Travel International Inv HK		873
	100,553	*	Chipotle Mexican Grill, Inc (Class A)		32,767
	32,940	e	Choice Hotels International, Inc		1,394
	62,268		Churchill Downs, Inc		4,361
	477,650	*,e	Chuy’s Holdings, Inc		15,562
	11,133	e	Cie des Alpes		218
	66,425	e	City Lodge Hotels Ltd		831
	30,919	*	Club Mediterranee S.A.		535
	22,467	*,e	Codere S.A.		88
	136,638	*,e	Coinstar, Inc		7,982
	19,067	e	Collectors Universe		224
	75,000	e	Colowide Co Ltd		792
	395,775		Compass Group plc		5,066
	73,392	e	Consumers’ Waterheater Income Fund		659
	501,618	*,e	Corinthian Colleges, Inc		1,053
	63,279		Cox & Kings India Ltd		149
	2,888	e	Credu Corp		104
	188,016	e	Crown Ltd		2,417
	9,000	e	Daisyo Corp		116
	181,290		Darden Restaurants, Inc		9,369
	376,162	*	Del Frisco’s Restaurant Group, Inc		6,244
	498,068	*	Denny’s Corp		2,874
	276,362	e	DeVry, Inc		8,774
	90,428		Dignity plc		1,953
	54,953		DineEquity, Inc		3,780
	156,793		Domino’s Pizza UK & IRL plc		1,437
	268,696		Domino’s Pizza, Inc		13,822
	44,500		Doutor Nichires Holdings Co Ltd		653
	189,460	e	Dunkin Brands Group, Inc		6,987
	3,901,400		Dynam Japan Holdings Co Ltd		6,785
	545,758		Echo Entertainment Group Ltd		1,986
	160,223	*,e	Education Management Corp		588
	142,747		Educomp Solutions Ltd		165
	683,877	*	Egyptian for Tourism Resorts		93
	67,227		EIH Ltd		68
	25,816		Einstein Noah Restaurant Group, Inc		383
	1,950,848		Enjoy S.A.		484
	700,399	*	Enterprise Inns plc		1,132
	84,800		Estacio Participacoes S.A.		1,842
	31,247	*	Euro Disney SCA		190
	63,585		Famous Brands Ltd		594
	55,657	*	Fiesta Restaurant Group, Inc		1,479
	348,138		First Hotel		226
	214,209	e	Flight Centre Ltd		7,521
	103,672		Formosa International Hotels Corp		1,177
	48,000		Fortuna Entertainment Group NV		232
	11,751		Frisch’s Restaurants, Inc		211
	69,000		Fujita Kanko, Inc		325

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,122,473	*	Galaxy Entertainment Group Ltd	$	17,287
	2,353,505		Genting BHD		7,640
	4,666,628	e	Genting International plc		5,646
	161,268	*	Grand Canyon Education, Inc		4,095
	40,500	e	Grand Korea Leisure Co Ltd		1,196
	69,254	*	Great Canadian Gaming Corp		639
	506,424		Greene King plc		5,409
	663,000	e	GuocoLeisure Ltd		472
	683,916		H&R Block, Inc		20,121
	9,577		Hana Tour Service, Inc		599
	241,059		Hillenbrand, Inc		6,094
	70,100		HIS Co Ltd		3,037
	72,686	*	Home Inns & Hotels Management, Inc (ADR)		2,165
	12,227		Hotel Leela Venture Ltd		5
	456,000		Hotel Properties Ltd		1,213
	121,024	e	Hotel Shilla Co Ltd		6,000
	254,050		Huangshan Tourism Development Co Ltd		373
	328,063	*	Hurtigruten Group ASA		163
	794,464	*	Hyatt Hotels Corp		34,345
	6,500		Ichibanya Co Ltd		289
	23,856	*,e	Ignite Restaurant Group, Inc		350
	245,919		Indian Hotels Co Ltd		243
	274,349		InterContinental Hotels Group plc		8,386
	378,021		International Game Technology		6,237
	61,000		International Meal Co Holdings S.A.		770
	98,868		International Speedway Corp (Class A)		3,231
	653,008		Interval Leisure Group, Inc		14,196
	154,029		Intralot S.A.-Integrated Lottery Systems & Services		361
	281,096		Invocare Ltd		3,221
	74,379	*	Isle of Capri Casinos, Inc		468
	404,040	*,e	ITT Educational Services, Inc		5,568
	257,098	*	Jack in the Box, Inc		8,893
	232,958	*,e	Jamba, Inc		664
	879,370		Jollibee Foods Corp		2,715
	65,031	*	Jubilant Foodworks Ltd		1,495
	93,378	*,e	K12, Inc		2,251
	149,870		Kangwon Land, Inc		4,154
	15,650	e	Kappa Create Co Ltd		316
	23,300	e	Kisoji Co Ltd		473
	2,012,000		Kosmopolito Hotels International Ltd		574
	304,023	*	Krispy Kreme Doughnuts, Inc		4,390
	674,400	*	Kroton Educacional S.A.		8,660
	9,047		Kuoni Reisen Holding		2,860
	35,700	e	Kura Corp		659
	19,500	e	Kyoritsu Maintenance Co Ltd		572
	2,311,663		Ladbrokes plc		7,938
	356,500	*	Landmarks BHD		112
	3,426,566		Las Vegas Sands Corp		193,087
	139,891	*	Leofoo Development Co		69
	151,315	*,e	Life Time Fitness, Inc		6,473
	106,066	*,e	LifeLock, Inc		1,021
	87,215	e	Lincoln Educational Services Corp		511

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	434,596		Lottomatica S.p.A.	$	10,233
	71,048	*	Luby’s, Inc		531
	64,939	e	Mac-Gray Corp		831
	1,232,773		Macquarie Leisure Trust Group		1,825
	70,106		Marcus Corp		876
	438,580		Marriott International, Inc (Class A)		18,521
	120,627	*	Marriott Vacations Worldwide Corp		5,176
	789,919		Marston’s plc		1,701
	8,700	e	Matsuya Foods Co Ltd		153
	95,934	e	Matthews International Corp (Class A)		3,347
	2,873,239		McDonald’s Corp		286,433
	18,157	e	McDonald’s Holdings Co Japan Ltd		489
	18,858		MegaStudy Co Ltd		1,210
	1,068,213	e	Melco International Development		1,858
	105,959	*,e	Melco PBL Entertainment Macau Ltd (ADR)		2,473
	2,507,400		MGM China Holdings Ltd		5,377
	494,252	*	MGM Mirage		6,499
	247,761		Millennium & Copthorne Hotels plc		2,145
	3,125,590		Minor International PCL (Foreign)		2,615
	277,155	*	Mitchells & Butlers plc		1,375
	5,208		Modetour Network, Inc		131
	43,624	*	Monarch Casino & Resort, Inc		424
	107,341	*	Morgans Hotel Group Co		635
	32,000	e	MOS Food Services, Inc		680
	84,236	*	MTR Gaming Group, Inc		278
	188,236	*	Multimedia Games, Inc		3,928
	3,228,000		NagaCorp Ltd		2,728
	9,979	*	Nathan’s Famous, Inc		422
	32,007		National American University Holdings, Inc		125
	213,261	e	Navitas Ltd		1,186
	52,771	*	NET Holding AS		72
	105,012	*	NH Hoteles S.A.		332
	52,086	*	Norwegian Cruise Line Holdings Ltd		1,544
	14,300		Ohsho Food Service Corp		443
	267,012		OPAP S.A.		2,103
	17,637		Orascom Development Holding AG.		205
	58,581		Oriental Land Co Ltd		9,596
	1,708,299	*	Orient-Express Hotels Ltd (Class A)		16,844
	508,000	e	Overseas Union Enterprise Ltd		1,260
	275	e	Pacific Golf Group International Holdings KK		254
	122,179		Paddy Power plc		11,026
	790,436		Paliburg Holdings Ltd		266
	143,155	*	Panera Bread Co (Class A)		23,655
	102,700	*,e	Papa John’s International, Inc		6,349
	44,108	e	Paradise Co Ltd		843
	822,625		PartyGaming plc		1,798
	2,643,775	*,e	Penn National Gaming, Inc		143,901
	657,720		Philweb Corp		237
	240,125	*	Pinnacle Entertainment, Inc		3,511
	22,100		Plenus Co Ltd		357
	64,427	*,e	Premier Exhibitions, Inc		171
	952,398	e	Raffles Education Corp Ltd		277

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	189,569		Rank Group plc	$	475
	56,993	*,e	Red Lion Hotels Corp		405
	55,123	*	Red Robin Gourmet Burgers, Inc		2,514
	737,000		Regal Hotels International Holdings Ltd		356
	235,704	e	Regis Corp		4,287
	3,417,600		Resorts World BHD		4,057
	102,200		Resorttrust, Inc		2,904
	401,658		Restaurant Group plc		2,859
	9,050,000	e	Rexcapital Financial Holdings Ltd		794
	100,634	*	Rezidor Hotel Group AB		486
	19,200	e	Ringer Hut Co Ltd		242
	1,282		Riso Kyoiku Co Ltd		127
	148,500		Round One Corp		1,098
	1,172,559	e	Royal Caribbean Cruises Ltd		38,952
	61,400		Royal Holdings Co Ltd		895
	253,276	*,e	Ruby Tuesday, Inc		1,867
	126,067	*	Ruth’s Chris Steak House, Inc		1,203
	34,500	e	Saizeriya Co Ltd		478
	6,887,661		Sands China Ltd		35,840
	323,303	*,e	Scientific Games Corp (Class A)		2,829
	658,903		Service Corp International		11,023
	2,914,000	e	Shanghai Jin Jiang International Hotels Group Co Ltd		507
	224,984		Shanghai Jinjiang International Hotels Development Co Ltd		362
	107,249		Shanghai Jinjiang International Travel Co Ltd		172
	1,109,229	e	Shangri-La Asia Ltd		2,178
	307,770	*	SHFL Entertainment, Inc		5,100
	2,859	e	Shinsegae Food Co Ltd		234
	431,762		Six Flags Entertainment Corp		31,294
	5,253,239		SJM Holdings Ltd		13,150
	31,314		SkiStar AB (Series B)		372
	603,860		Sky City Entertainment Group Ltd		2,231
	30,012	*	SM Culture & Contents Co Ltd		92
	62,722		Sodexho Alliance S.A.		5,846
	59,158	e	Sol Melia S.A.		402
	421,512	*	Sonic Corp		5,429
	300,732		Sotheby’s (Class A)		11,250
	42,801	e	Speedway Motorsports, Inc		770
	1,099,367		Spirit Pub Co plc		984
	6,400		St Marc Holdings Co Ltd		306
	674,000		Stamford Land Corp Ltd		310
	723	e	Starbucks Coffee Japan Ltd		630
	3,603,190		Starbucks Corp		205,238
	896,453		Starwood Hotels & Resorts Worldwide, Inc		57,131
	4,621	*	Steak N Shake Co		1,725
	54,859	*	Steiner Leisure Ltd		2,653
	263,149	e	Stewart Enterprises, Inc (Class A)		2,445
	43,376	e	Strayer Education, Inc		2,099
	136,149		Sun International Ltd		1,495
	2,005,300		Ta Enterprise BHD		334
	153,632		Tabcorp Holdings Ltd		518
	571,746		Tattersall’s Ltd		1,891

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	220,461		Texas Roadhouse, Inc (Class A)	$	4,451
	1,151,609	*	Thomas Cook Group plc		1,972
	233,116	e	Tim Hortons, Inc (Toronto)		12,670
	5,667	*	Tipp24 SE		302
	239,000	e	Tokyo Dome Corp		1,365
	210,000	e	Tokyotokeiba Co Ltd		890
	18,100	e	Toridoll.corp		186
	80,104	e	Town Sports International Holdings, Inc		758
	166,714	*	TUI AG.		1,794
	902,354		TUI Travel plc		4,477
	65,874		Unibet Group plc (ADR)		2,300
	127,832		Universal Technical Institute, Inc		1,615
	134,245	e	Vail Resorts, Inc		8,366
	23,700	e	Watami Co Ltd		442
	325,548	e	Weight Watchers International, Inc		13,709
	351,278	e	Wendy’s		1,992
	161,060		Wetherspoon (J.D.) plc		1,317
	699,293		Whitbread plc		27,352
	1,573,185		William Hill plc		8,853
	188,870	*	WMS Industries, Inc		4,761
	50,000		Wowprime Corp		709
	862,679		Wyndham Worldwide Corp		55,626
	1,720,390	e	Wynn Macau Ltd		4,584
	139,186		Wynn Resorts Ltd		17,421
	335,000		YBM Sisa.com, Inc		1,563
	50,000	e	Yomiuri Land Co Ltd		335
	536	e	Yoshinoya D&C Co Ltd		631
	2,188,804	e	Yum! Brands, Inc		157,463
	78,600	e	Zensho Co Ltd		1,061
			TOTAL CONSUMER SERVICES		2,261,860
DIVERSIFIED FINANCIALS - 5.5%
	140,064		3i Group plc		675
	33,714		ABC Arbitrage		206
	3,682,675		Aberdeen Asset Management plc		24,066
	30,826		Ackermans & Van Haaren		2,608
	7,018	*,e	Acom Co Ltd		201
	243,006		Administradora de Fondos de Pensiones Provida S.A.		1,700
	78,171	e	Aeon Credit Service Co Ltd		2,217
	20,000		Aeon Credit Service M BHD		84
	659,592	*	Affiliated Managers Group, Inc		101,294
	1,490,879	e	African Bank Investments Ltd		4,913
	136,069	e	AGF Management Ltd		1,444
	169,400	*,e	Aiful Corp		1,135
	30,104		Aker ASA (A Shares)		1,135
	45,025	e	Alaris Royalty Corp		1,250
	56,682		Altamir Amboise		664
	1,743,450	*	American Capital Ltd		25,446
	5,824,512		American Express Co		392,922
	1,553,807	e	Ameriprise Financial, Inc		114,438
	4,944,005		AMMB Holdings BHD		10,442
	740,154		Apollo Investment Corp		6,188

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	330,987		Apollo Management LP	$	7,163
	615,649	e,g	ARA Asset Management Ltd		955
	552,663		Ares Capital Corp		10,003
	234,574		Artio Global Investors, Inc		638
	935,351		Ashmore Group plc		4,987
	12,981	*,m	Asia Pacific Investment Partners Limited		92
	422,000	*,e	Asiasons Capital Ltd		320
	60,338	*	Asset Acceptance Capital Corp		407
	35,923	e	Asta Funding, Inc		345
	12,092		Aurelius AG.		778
	216,195	e	Australian Stock Exchange Ltd		8,168
	22,472	e	Avanza AB		605
	311,537		Ayala Corp		4,320
	2,215	*,m	Ayala Corp Preferred		0	^
	367,057		Azimut Holding S.p.A.		5,951
	5,332		Bajaj Auto Finance Ltd		113
	187,228	e	Banca Generali S.p.A		3,564
	47,097		Banca IFIS S.p.A.		406
	319,925		Banca Profilo S.p.A.		106
	50,409,274		Bank of America Corp		613,985
	3,131,623	e	Bank of New York Mellon Corp		87,654
	375,715	e	BGC Partners, Inc (Class A)		1,563
	191,681		BinckBank NV		1,799
	352,897	e	BlackRock Kelso Capital Corp		3,529
	366,167		BlackRock, Inc		94,061
	2,656,387		Blackstone Group LP		52,543
	265,000		Blue Circle Services Ltd		44
	2,752,811		BM&F Bovespa S.A.		18,581
	37,984,234		Bolsa de Valores de Colombia		630
	32,890	m	Bolsa de Valores de Lima S.A.		142
	1,381,600	e	Bolsa Mexicana de Valores S.A. de C.V.		3,956
	84,158	e	Bolsas y Mercados Espanoles		2,071
	31,677	*	Boursorama		250
	1,089,005	*	Brait S.A.		4,121
	331,884		Brewin Dolphin Holdings plc		1,043
	599,086		BT Investment Management Ltd		1,972
	283,157		BTG Pactual Participations Ltd		4,752
	85,021		Bure Equity AB		304
	95,300		Bursa Malaysia BHD		214
	144,244		Calamos Asset Management, Inc (Class A)		1,698
	5,267	e	California First National Bancorp		91
	99,782		Canaccord Financial, Inc		670
	1,526,732		Capital One Financial Corp		83,894
	1,702,821		Capital Securities Corp		607
	12,736		Capital Southwest Corp		1,465
	115,529	e	Cash America International, Inc		6,062
	215,283		CBOE Holdings, Inc		7,953
	101,801		Century Leasing System, Inc		2,648
	269,644		CETIP S.A.-Balcao Organizado de Ativos e Derivativos		3,202
	1,102,100		Chailease Holding Co Ltd		3,071
	912,802		Challenger Financial Services Group Ltd		3,675
	1,642,949		Charles Schwab Corp		29,064

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,130,000		China Bills Finance Corp	$	437
	1,407,800		China Everbright Ltd		2,244
	3,540,000	*,e	China Financial International Investments Ltd		174
	140,000	e	China Merchants China Direct Investments Ltd		209
	3,236		Cholamandalam DBS Finance Ltd		16
	256,593	e	CI Financial Corp		7,098
	425,039	*	Citadel Capital Corp		205
	1,886,400	e	CITIC Securities Co Ltd		4,091
	16,960,832		Citigroup, Inc		750,347
	178,467		Close Brothers Group plc		2,857
	408,859	e	CME Group, Inc		25,100
	65,556	e	Cohen & Steers, Inc		2,365
	3,313,400	e	Compartamos SAB de C.V.		6,111
	961,275	*	Concord Securities Corp		226
	812,156		Coronation Fund Managers Ltd		4,241
	25,977		Corp Financiera Alba		1,136
	174,785		Corp Financiera Colombiana S.A.		3,376
	4,698	*,m	Corp Financiera Colombiana S.A. (No-Div)		91
	341,075	*	Cowen Group, Inc		962
	29,773	*	Credit Acceptance Corp		3,636
	1,953,600	e	Credit China Holdings Ltd		202
	74,068	e	Credit Saison Co Ltd		1,853
	3,009,802	e	Credit Suisse Group		79,160
	874,700	*	Credito Real SAB de C.V.		1,512
	856,400	*	CSOP FTSE China A50 ETF CNY RQFII		1,119
	27,398		DAB Bank AG.		129
	223,041		Daewoo Securities Co Ltd		2,297
	67,800		Daishin Securities Co Ltd		594
	42,120		Daishin Securities Co Ltd PF		243
	2,411,135	*	Daiwa Securities Group, Inc		17,092
	152,679	e	Davis & Henderson Income Fund		3,282
	130,557	*	DeA Capital S.p.A.		225
	18,005	*	Deerfield Capital Corp		148
	1,382,838		Deutsche Bank AG.		54,064
	15,825	e	Deutsche Beteiligungs AG.		382
	148,947		Deutsche Boerse AG.		9,036
	13,076	e	Diamond Hill Investment Group, Inc		1,017
	2,241,505		Discover Financial Services		100,509
	153,585	*	Dollar Financial Corp		2,556
	53,250		Dongbu Securities Co Ltd		193
	167,985		Duff & Phelps Corp		2,605
	49,613	*	Dundee Corp		1,709
	839,496	*	E*Trade Financial Corp		8,991
	41,398		East Capital Explorer AB		331
	492,396	e	Eaton Vance Corp		20,597
	245,790		ECM Libra Financial Group BHD		56
	105,492		Edelweiss Capital Ltd		60
	58,747	e	EFG International		709
	913,525		Egypt Kuwait Holding Co		1,096
	368,129	*	Egyptian Financial Group-Hermes Holding		544
	146,300	*	Element Financial Corp		1,296
	79,064	*,e	Encore Capital Group, Inc		2,380

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	78,275	*	Eugene Investment & Securities Co Ltd	$	182
	43,478		Eurazeo		2,208
	198,893	e	Evercore Partners, Inc (Class A)		8,274
	63,479	e	Exor S.p.A.		1,779
	263,406	*	Ezcorp, Inc (Class A)		5,611
	578,282		F&C Asset Management plc		917
	1,920,100		Far East Horizon Ltd		1,271
	44,902	*	FBR & Co		850
	129,295	e	Federated Investors, Inc (Class B)		3,060
	41,623	e	Fidus Investment Corp		797
	509,250	*	Fifth Street Finance Corp		5,612
	8,099		Fimalac		423
	272,453	e	Financial Engines, Inc		9,868
	106,073	*	First Cash Financial Services, Inc		6,188
	241,593	*,e	First Marblehead Corp		244
	2,330,000		First Pacific Co		3,158
	21,344	*	Firsthand Technology Value Fund, Inc		411
	5,304,419		FirstRand Ltd		18,594
	222,880		FlexiGroup Ltd		935
	364,169		Fortress Investment Group LLC		2,331
	386,240	e	Franklin Resources, Inc		58,249
	83,584	e	Friedman Billings Ramsey Group, Inc (Class A)		2,157
	13,104,234		Fubon Financial Holding Co Ltd		18,807
	13,530,634		Fuhwa Financial Holdings Co Ltd		6,871
	8,922		Fundo de Investimento Imobiliario Brazilian Capital Real Estate Fund I		661
	40,538		Fuyo General Lease Co Ltd		1,548
	72,701	e	FXCM, Inc		995
	35,229	e	Gain Capital Holdings, Inc		157
	23,891	e	GAMCO Investors, Inc (Class A)		1,269
	11,700		GCA Savvian Group Corp		114
	7,468,000		Get Nice Holdings Ltd		342
	242,472	e	GFI Group, Inc		810
	37,114		Gimv NV		1,855
	134,850		Gladstone Capital Corp		1,241
	80,219		Gladstone Investment Corp		586
	33,448		Gluskin Sheff + Associates, Inc		598
	139,324		GMP Capital, Inc		900
	1,954,595		Goldman Sachs Group, Inc		287,619
	52,855	e	Golub Capital BDC, Inc		873
	145,731	*,e	Green Dot Corp		2,435
	104,769	e	Greenhill & Co, Inc		5,593
	155,695		Groupe Bruxelles Lambert S.A.		11,926
	883	*,m	Groupe Bruxelles Lambert S.A. - STR VVPR		0	^
	70,379	*,e	GSV Capital Corp		581
	241,150		GT Capital Holdings, Inc		4,325
	1,532,000		Guotai Junan International Hol		670
	2,431,928		Haci Omer Sabanci Holding AS		14,396
	415,600	*	Haitong Securities Co Ltd		573
	84,290		Hanwha Securities Co		324
	227,046		Hargreaves Lansdown plc		3,002
	120,631	*,e	Harris & Harris Group, Inc		434

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	78,863		Hellenic Exchanges S.A.	$	396
	2,696,127		Henderson Group plc		6,548
	171,716	e	Hercules Technology Growth Capital, Inc		2,104
	323,739		HFF, Inc (Class A)		6,452
	209,800		Hitachi Capital Corp		4,606
	8,930		HMC Investment Securities Co Ltd		105
	1,465,160	e	Hong Kong Exchanges and Clearing Ltd		25,036
	26,065		Horizon Technology Finance Corp		381
	142,307		Hyundai Securities Co		1,017
	19,800	e	IBJ Leasing Co Ltd		614
	531,766		ICAP plc		2,353
	51,800		Ichiyoshi Securities Co Ltd		574
	1,580,332		IFCI Ltd		759
	505,208		IG Group Holdings plc		4,109
	207,434	e	IGM Financial, Inc		9,346
	167,436		India Infoline Ltd		188
	288,437	m	Indiabulls Financial Services Ltd		1,442
	18,736		Indiabulls Securities Ltd		3
	32,890		Industrivarden AB		600
	1,708,497		Infrastructure Development Finance Co Ltd		4,530
	10,790,764	*	ING Groep NV		77,644
	95,787		Interactive Brokers Group, Inc (Class A)		1,428
	179,983	*,m	Interbolsa S.A.		0	^
	373,499	*,e	IntercontinentalExchange, Inc		60,906
	32,760		Intergroup Financial Services Corp		1,310
	527,770		Intermediate Capital Group plc		3,405
	53,526	*,e	International Assets Holding Corp		932
	532,008		International Personal Finance plc		3,609
	134,698	*	Internet Capital Group, Inc		1,681
	60,811		Inversiones La Construccion S.A.		1,181
	2,321,770		Invesco Ltd		67,238
	294,410		Investec Ltd		2,060
	93,699		Investec plc		655
	225,465	*	Investment Technology Group, Inc		2,489
	512,959		Investor AB (B Shares)		14,838
	441,622		IOOF Holdings Ltd		3,832
	13,736	*	Is Finansal Kiralama AS.		8
	165,905		Is Yatirim Menkul Degerler AS		161
	1,500,000	e	iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		2,014
	1,478,445	e	iShares MSCI Canada Index Fund		42,150
	994,340		iShares MSCI EAFE Index Fund		58,646
	453,750	e	iShares MSCI Emerging Markets		19,411
	161,128	e	iShares Russell 2000 Index Fund		15,188
	28,100	e	J Trust Co Ltd		894
	251,089		Jaccs Co Ltd		1,573
	230,717	*,e	Jafco Co Ltd		8,301
	235,977	e	Janus Capital Group, Inc		2,218
	6,253,000	*,a	Japan Asia Investment Co Ltd		11,500
	1,775,500	e	Japan Securities Finance Co Ltd		13,706

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,209,484		Jih Sun Financial Holdings Co Ltd	$	678
	64,873	e	JMP Group, Inc		448
	16,095,698		JPMorgan Chase & Co		763,902
	190,218		JSE Ltd		1,475
	157,266		Julius Baer Group Ltd		6,129
	226,505		Julius Baer Holding AG.		3,837
	781,642		Jupiter Investment Management Group Ltd		3,897
	109,965		K&N Kenanga Holdings BHD		19
	846,000		K1 Ventures Ltd		111
	113,800	e	kabu.com Securities Co Ltd		695
	9,920,000	*	Kai Yuan Holdings Ltd		256
	35,423	*,e	KBC Ancora		615
	78,524	e	KCAP Financial, Inc		846
	29,741		Kinnevik Investment AB (Series B)		722
	20,933		KIWOOM Securities Co Ltd		1,278
	564,386	*,e	Knight Capital Group, Inc (Class A)		2,100
	51,960		Korea Investment Holdings Co Ltd		2,085
	467,424		Kotak Mahindra Bank Ltd		5,628
	82,410	*	KTB Securities Co Ltd		265
	47,580		Kyobo Securities Co		219
	411,517	*,e	Ladenburg Thalmann Financial Services, Inc		683
	194,555		Lazard Ltd (Class A)		6,640
	1,104,077	e	Legg Mason, Inc		35,496
	608,757		Leucadia National Corp		16,698
	142,801		London Stock Exchange Group plc		2,840
	163,616		LPL Financial Holdings, Inc		5,275
	45,850		Lundbergs AB (B Shares)		1,824
	401,631		Macquarie Group Ltd		15,624
	185,000		Mahindra & Mahindra Financial Services Ltd		666
	102,038	e	Main Street Capital Corp		3,274
	13,789,072		Man Group plc		18,751
	797,636		Manappuram General Finance & Leasing Ltd		318
	89,505		Manning & Napier, Inc		1,480
	863,086	*	Marfin Investment Group S.A		296
	192,253		MarketAxess Holdings, Inc		7,171
	37,560		Marlin Business Services Corp		871
	149,200		Marusan Securities Co Ltd		1,141
	1,973,000		Masterlink Securities Corp		622
	126,500	e	Matsui Securities Co Ltd		1,356
	195,450		Maybank Kim Eng Securities Thailand PCL		144
	326,494	e	MCG Capital Corp		1,561
	57,243	e	Medallion Financial Corp		757
	1,661,132		Mediobanca S.p.A.		8,491
	76,593	e	Medley Capital Corp		1,214
	229,894	*	Meritz finance Holdings Co Ltd		828
	651,020		Meritz Securities Co Ltd		831
	10,974,800		Metro Pacific Investments Corp		1,495
	20,202		MicroFinancial, Inc		170
	396,000		MIN XIN Holdings Ltd		222
	27,841		Mirae Asset Securities Co Ltd		1,036
	1,255,870		Mitsubishi UFJ Lease & Finance Co Ltd		6,581
	82,165		MLP AG.		548

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,779	e	Monex Beans Holdings, Inc	$	6,801
	1,043,677		Moody’s Corp		55,649
	8,170,618		Morgan Stanley		179,590
	307,740	*	MSCI, Inc (Class A)		10,442
	1,531,700	*	Mulpha International BHD		190
	18,400		Multi Commodity Exchange of India Ltd		282
	1,599,200		Multi-Purpose Holdings BHD		1,856
	84,855		MVC Capital, Inc		1,089
	612,446	*	Narodowy Fundusz Inwestycyjny Midas S.A.		149
	159,097	e	Nasdaq Stock Market, Inc		5,139
	90,911		Nelnet, Inc (Class A)		3,073
	123,869	*	Netspend Holdings, Inc		1,968
	127,425	e	New Mountain Finance Corp		1,863
	91,778	*,e	NewStar Financial, Inc		1,214
	83,137	e	NGP Capital Resources Co		591
	76,683		NH Investment & Securities Co Ltd		357
	3,401		NICE Holdings Co Ltd		245
	39,415	e	Nicholas Financial, Inc		579
	2,761,072		Nomura Holdings, Inc		17,168
	85,170		Nordnet AB (Series B)		265
	21,904,308		Norte Grande S.A.		237
	810,357		Northern Trust Corp		44,213
	315,535		NYSE Euronext		12,192
	4,867,866	e	NZX Ltd		5,462
	6,100		OFS Capital Corp		85
	355,000		Okasan Holdings, Inc		3,445
	199,896	e	OKO Bank (Class A)		2,924
	92,349		Onex Corp		4,404
	37,519	e	Oppenheimer Holdings, Inc		730
	28,675	*	Oresund Investment AB		461
	366,000	*,e	Orient Corp		1,182
	5,004,530	*,e	ORIX Corp		63,898
	52,400	e	Osaka Securities Exchange Co Ltd		4,859
	720,575		OSK Holdings BHD		342
	10,646		Pargesa Holding S.A.		725
	47,122		Partners Group		11,637
	1,239,600	*,m	Pearl Oriental Innovation Ltd		50
	340,885		PennantPark Investment Corp		3,849
	517,000	*,m	Peregrine Investment Holdings		0	^
	137,982		Perpetual Trustees Australia Ltd		5,816
	371,798	*,e	PHH Corp		8,165
	60,290		Philippine Stock Exchange, Inc		684
	86,521	*	Pico Holdings, Inc		1,921
	378,585	*	Pioneers Holding		222
	57,645	*	Piper Jaffray Cos		1,977
	551,476	e	Platinum Asset Mangement Ltd		2,988
	108,759	*	Portfolio Recovery Associates, Inc		13,804
	902,080		Power Finance Corp Ltd		3,005
	105,000	*,e	PowerShares QQQ Trust Series		7,242
	1,686,509		President Securities Corp		1,010
	903,144	e	Prospect Capital Corp		9,853
	299,476		Provident Financial plc		7,132

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,889,000		PT Clipan Finance Indonesia Tbk	$	88
	37,797	e	Pzena Investment Management, Inc (Class A)		246
	81,198		Rathbone Brothers		1,800
	276,896	e	Ratos AB (B Shares)		2,930
	1,359,069		Raymond James Financial, Inc		62,653
	10,794	*,e	Regional Management Corp		218
	326,295		Reliance Capital Ltd		1,885
	914,443		Remgro Ltd		18,218
	43,504		Resource America, Inc (Class A)		433
	160,490	*	RHJ International		761
	20,718	e	Ricoh Leasing Co Ltd		577
	927,786		RMB Holdings Ltd		4,202
	602,768		Rural Electrification Corp Ltd		2,317
	76,774	*,e	Safeguard Scientifics, Inc		1,213
	75,479		Samsung Card Co		2,592
	80,435		Samsung Securities Co Ltd		3,881
	70,000	*	Sawada Holdings Co Ltd		696
	48,484	e	SBI Holdings, Inc		431
	45,694		Schroders plc		1,468
	762,560		SEI Investments Co		22,000
	5	*,m	SFCG Co Ltd		0	^
	159,339		Shriram Transport Finance Co Ltd		2,039
	1,765,849		Singapore Exchange Ltd		11,001
	126,570		SK Securities Co Ltd		119
	1,521,662		SLM Corp		31,164
	768,475	*,e,m	SNS Reaal		10
	222,630		Solar Capital Ltd		5,230
	38,948		Solar Senior Capital Ltd		748
	95,946	e	SPDR S&P MidCap 400 ETF Trust		20,122
	1,030,590		SPDR Trust Series 1		161,339
	98,587	e	Sprott, Inc		340
	409,246		SREI Infrastructure Finance Ltd		202
	3,840,450		State Street Corp		226,932
	18,684	e	Stellus Capital Investment Corp		277
	265,987	*	Stifel Financial Corp		9,222
	5,354		Sundaram Finance Ltd		47
	457,062		Suramericana de Inversiones S.A.		9,765
	11,691		Swissquote Group Holding S.A.		370
	178,181	*,e	SWS Group, Inc		1,078
	414,350		T Rowe Price Group, Inc		31,022
	294,337		Tai Fook Securities Group Ltd		121
	90,000		Taiwan Acceptance Corp		227
	170,000	e	Takagi Securities Co Ltd		615
	67,160	e	TCP Capital Corp		1,072
	511,725		TD Ameritrade Holding Corp		10,552
	278,925		Tetragon Financial Group Ltd		3,049
	47,237	e	THL Credit, Inc		708
	193,078	e	TICC Capital Corp		1,919
	22,557		TMX Group Ltd		1,234
	480,680		Tokai Tokyo Securities Co Ltd		3,561
	61,642		Tong Yang Investment Bank		224
	125,333		Transpac Industrial Holdings Ltd		170

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	95,916	e	Triangle Capital Corp	$	2,685
	257,155		Tullett Prebon plc		1,016
	7,501,400		UBS AG. (Switzerland)		115,351
	957,565	e	UOB-Kay Hian Holdings Ltd		1,318
	142,337	*	Uranium Participation Corp		783
	844,000	e	Value Partners Group Ltd		549
	6,226		Verwalt & Privat-Bank AG.		551
	31,698	*	Virtus Investment Partners, Inc		5,905
	66,177		Vontobel Holding AG.		2,107
	166,499		Vostok Nafta Investment Ltd		632
	266,354		Waddell & Reed Financial, Inc (Class A)		11,661
	135,248		Walter Investment Management Corp		5,038
	70,148		Warsaw Stock Exchange		844
	3,231,662		Waterland Financial Holdings		1,089
	31,947		Wendel		3,383
	27,089	e	Westwood Holdings Group, Inc		1,204
	1,990	*	WhiteHorse Finance, Inc		31
	545,356	*	WisdomTree Investments, Inc		5,672
	24,388		Woori Financial Co Ltd		439
	168,853		Woori Investment & Securities Co Ltd		1,754
	36,754	*,e	World Acceptance Corp		3,156
	378,554		Zeder Investments Ltd		145
			TOTAL DIVERSIFIED FINANCIALS		6,184,471
ENERGY - 9.5%
	84,501		Aban Offshore Ltd		411
	283,565	*,e	Abraxas Petroleum Corp		655
	259,124	e	Acergy S.A.		6,090
	8,692		Adams Resources & Energy, Inc		443
	20,436,627		Adaro Energy Tbk		2,767
	226,307	*	Advantage Oil & Gas Ltd		838
	9,022,554	*	Afren plc		19,501
	100,152		Aker Kvaerner ASA		1,880
	273,100	*	Alam Maritim Resources BHD		82
	371,992		Alliance Holdings GP LP		19,593
	125,528		Alon USA Energy, Inc		2,391
	613,314	*,e	Alpha Natural Resources, Inc		5,035
	145,739	e	AltaGas Income Trust		5,008
	77,774		AMEC plc		1,250
	2,014,021	*,e	Amerisur Resources plc		1,698
	96,449	*,e	Amyris Biotechnologies, Inc		297
	3,044,465		Anadarko Petroleum Corp		266,238
	89,000	*	Angle Energy, Inc		271
	226,350		Anglo Pacific Group plc		819
	317,000		Anhui Tianda Oil Pipe Co Ltd		58
	1,276,000	e	Anton Oilfield Services Group		889
	156,400		AOC Holdings, Inc		607
	867,972		Apache Corp		66,973
	32,025	e	APCO Argentina, Inc		397
	114,707	*,e	Approach Resources, Inc		2,823
	526,091	*,e	Aquila Resources Ltd		1,089
	219,544	e	ARC Energy Trust		5,801

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	868,396	e	Arch Coal, Inc	$	4,715
	129,801	*	Archer Ltd		115
	255,277	*	Athabasca Oil Corp		2,284
	204,592	*	Atwood Oceanics, Inc		10,749
	522,361	*,e	Aurora Oil and Gas Ltd		1,803
	703,676		Australian Worldwide Exploration Ltd		954
	2,680,293	e	Baker Hughes, Inc		124,392
	114,392	*,e	Bandanna Energy Ltd		20
	1,523,000		Bangchak Petroleum PCL		1,878
	303,626	*	Bankers Petroleum Ltd		798
	168,650		Banpu PCL		2,177
	134,263	*,e	Basic Energy Services, Inc		1,835
	388,722	e	Baytex Energy Trust		16,290
	3,668,409		Beach Petroleum Ltd		5,421
	144,000	*	Bellatrix Exploration Ltd		927
	211,354	e	Berry Petroleum Co (Class A)		9,784
	4,138,785		BG Group plc		71,220
	508,961		Bharat Petroleum Corp Ltd		3,546
	190,857	*,e	Bill Barrett Corp		3,869
	117,699	*,e	Birchcliff Energy Ltd		993
	362,400	*,e	BlackPearl Resources, Inc		831
	31,092	e	Bolt Technology Corp		543
	78,518	*	Bonanza Creek Energy, Inc		3,036
	106,050	e	Bonavista Energy Trust		1,560
	28,426	e	Bonterra Oil & Gas Ltd		1,381
	1,215,326	*,e	Borders & Southern Petroleum plc		328
	48,679		Bourbon S.A.		1,344
	575,000		Boustead Singapore Ltd		685
	267,703	*	BowLeven plc		392
	15,989,216		BP plc		112,436
	1,366,429	e	BP plc (ADR)		57,868
	361,932	*,e	BPZ Energy, Inc		822
			Brasil Ecodiesel Industria e Comercio de
	1,815,696	*	Biocombustiveis e Oleos Vegetais S.A.		386
	5,747,000	e	Brightoil Petroleum Holdings Ltd		1,092
	139,590		Bristow Group, Inc		9,205
	2,469,100		Bumi Armada BHD		3,022
	65,049	*	BUMI plc		292
	274,423	*,e	Buru Energy Ltd		711
	477,107		BW Offshore Ltd		506
	207,346	*,e	C&J Energy Services, Inc		4,748
	1,250,814		Cabot Oil & Gas Corp		84,568
	870,341		Cairn Energy plc		3,623
	272,962		Cairn India Ltd		1,370
	571,176	*,e	Cal Dive International, Inc		1,028
	121,886	e	Calfrac Well Services Ltd		3,274
	177,202	*	Callon Petroleum Co		656
	464,136		Caltex Australia Ltd		10,364
	348,534	*,e	Cam Finanziaria S.p.A.		344
	532,111	e	Cameco Corp		11,042
	1,621,434	*,e	Cameron International Corp		105,717
	76,200	*,e	Canacol Energy Ltd		250

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	107,200	e	Canadian Energy Services & Technology Corp	$	1,309
	1,271,969		Canadian Natural Resources Ltd (Canada)		40,782
	1,487,057	e	Canadian Oil Sands Trust		30,653
	166,059	e	Canyon Services Group, Inc		1,818
	310,000		Capital Product Partners LP		2,567
	50,699	e	CARBO Ceramics, Inc		4,617
	154,229	*	Carrizo Oil & Gas, Inc		3,974
	21,363		CAT Oil AG.		256
	2,973,783		Cenovus Energy, Inc		92,158
	1,664,059	e	Cenovus Energy, Inc (Toronto)		51,534
	137,400	*	Cequence Energy Ltd		239
	12,877	*,e	Ceres, Inc		45
	4,852,722	*	Cheniere Energy, Inc		135,876
	1,700,195	e	Chesapeake Energy Corp		34,701
	8,606,146		Chevron Corp		1,022,582
	479,000		China Aviation Oil Singapore Corp Ltd		418
	7,792,500		China Coal Energy Co		6,977
	4,893,700		China Oilfield Services Ltd		10,285
	972,000		China Qinfa Group Ltd		117
	5,549,199		China Shenhua Energy Co Ltd		20,247
	633,000		China Suntien Green Energy Cor		173
	5,048,000		Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd		2,481
	163,817		Cimarex Energy Co		12,358
	1,355,702	*,e	Circle Oil plc		330
	20,896	*,e	Clayton Williams Energy, Inc		914
	234,721	*,e	Clean Energy Fuels Corp		3,051
	236,828	*	Cloud Peak Energy, Inc		4,448
	38,700,400		CNOOC Ltd		74,417
	1,082,261		Coal India Ltd		6,165
	2,091,942	*,e	Cobalt International Energy, Inc		58,993
	1,422,031	*	Cockatoo Coal Ltd		100
	13,394	*	Compagnie Generale de Geophysique S.A.		302
	193,732	*	Comstock Resources, Inc		3,148
	1,837,319	*	Concho Resources, Inc		179,010
	593,957	*	Connacher Oil and Gas Ltd		91
	3,856,645		ConocoPhillips		231,784
	602,286	e	Consol Energy, Inc		20,267
	76,114	e	Contango Oil & Gas Co		3,051
	520,249	*	Continental Resources, Inc		45,225
	146,132		Core Laboratories NV		20,155
	389,474		Cosan SA Industria e Comercio		8,739
	132,570	e	Cosmo Oil Co Ltd		281
	2,388,383	e	Crescent Point Energy Corp		90,165
	126,728	*	Crew Energy, Inc		894
	76,108	*,e	Crimson Exploration, Inc		218
	56,152		CropEnergies AG.		439
	154,159		Crosstex Energy, Inc		2,969
	78,331	*	CVR Energy, Inc		4,043
	489,815	*,m	CVR Energy, Inc (Contingent value right)		0	^
	56,813	*	Dawson Geophysical Co		1,704
	269,100		Dayang Enterprise Holdings BHD		237

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	113,500	*	Deep Sea Supply plc	$	193
	90,300	*	DeeThree Exploration Ltd		586
	11,345		Delek Group Ltd		3,196
	151,875		Delek US Holdings, Inc		5,993
	8,099,838	*	Denbury Resources, Inc		151,062
	395,408	*,e	Denison Mines Corp		541
	84,345	*	Det Norske Oljeselskap ASA		1,311
	759,879	*	Devon Energy Corp		42,872
	369,022	e	Diamond Offshore Drilling, Inc		25,669
	39,324	*,e	Diamondback Energy, Inc		1,055
	784,480	*,e	DNO International ASA		1,362
	1,989,537	e	Dragon Oil plc		19,650
	271,842	*	Dresser-Rand Group, Inc		16,762
	370,962	*	Drillsearch Energy Ltd		483
	148,553	*	Dril-Quip, Inc		12,949
	7,085,264		Ecopetrol S.A.		19,600
	227,896	e	Ecopetrol S.A. (ADR)		12,425
	151,015	*,e	Electromagnetic GeoServices AS		227
	109,089	*	Emerald Oil, Inc		768
	607,736		Empresas COPEC S.A.		8,852
	72,411		Enbridge Income Fund		1,808
	940,692		Enbridge, Inc		43,800
	645,057	e	EnCana Corp		12,547
	170,411	*,e	Endeavour International Corp		503
	163,918		Enerflex Ltd		2,246
	129,593		Energen Corp		6,740
	769,200		Energy Earth PCL		190
	413,961	*,e	Energy Resources of Australia Ltd		578
	2,739		Energy Transfer Partners LP		139
	356,591	e	Energy XXI Bermuda Ltd		9,706
	183,019	e	Enerplus Resources Fund		2,674
	4,206,162		ENI S.p.A.		94,169
	1,612,072	*	Enquest plc (London)		3,521
	168,712	e	Ensco plc		10,123
	296,393		Ensign Energy Services, Inc		5,053
	1,578,966		EOG Resources, Inc		202,218
	180,203	*	EPL Oil & Gas, Inc		4,831
	443,850		Equitable Resources, Inc		30,071
	51,824	*	Era Group, Inc		1,088
	168,794		ERG S.p.A.		1,539
	411,996	*	Essar Energy plc		864
	3,200		Esso SA Francaise		216
	616,900		Esso Thailand PCL		198
	250,767	e	Etablissements Maurel et Prom		4,372
	73,549		Eurasia Drilling Co Ltd (GDR)		2,621
	30,174	*	Euronav NV		135
	55,781	*	Evolution Petroleum Corp		566
	1,634,425	e	EXCO Resources, Inc		11,653
	71,573		Exmar NV		708
	279,290	*,e	Exterran Holdings, Inc		7,541
	17,222,344		Exxon Mobil Corp		1,551,906
	2,219,000	e	Ezion Holdings Ltd		3,903

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	858,200	*,e	Ezra Holdings Ltd	$	802
	376,933	*,e	Falkland Oil & Gas Ltd		152
	344,153	*	Faroe Petroleum plc		768
	710,835	*	FMC Technologies, Inc		38,662
	55,837	*,e	Forbes Energy Services Ltd		205
	464,596	*	Forest Oil Corp		2,444
	1,852,380		Formosa Petrochemical Corp		4,879
	76,710	*,e	Forum Energy Technologies, Inc		2,206
	95,629		Fred Olsen Energy ASA		4,112
	140,513	e	Freehold Royalty Trust		3,234
	177,291	*,e	Frontline Ltd		415
	74,818	*,e	Frontline Ltd (Norway)		168
	5,835		Fugro NV		323
	182,761	*,e	FX Energy, Inc		614
	182,530	e	Galp Energia SGPS S.A.		2,862
	83,054		GasLog Ltd		1,068
	229,555	*,e	Gastar Exploration Ltd		404
	8,143,093		Gazprom OAO (ADR)		69,633
	57,083	e	Gazpromneft OAO (ADR)		1,205
	4,815,000	*,e	Genesis Energy Holdings Ltd		90
	55,088	*	Geospace Technologies Corp		5,945
	95,589	*,e	Gevo, Inc		214
	285,409	e	Gibson Energy, Inc		7,384
	65,810	*,e	Global Geophysical Services, Inc		161
	106,224	e	Golar LNG Ltd		3,926
	90,089	*,e	Goodrich Petroleum Corp		1,410
	47,943		Great Eastern Shipping Co Ltd		203
	89,948	*,e	Green Plains Renewable Energy, Inc		1,029
	171,620	*	Grupa Lotos S.A.		2,155
	105,373		GS Holdings Corp		6,167
	276,456	*,e	Guildford Coal Ltd		89
	52,569		Gulf Island Fabrication, Inc		1,107
	1,153,164	*,e	Gulf Keystone Petroleum Ltd		3,067
	129,429		Gulfmark Offshore, Inc		5,043
	323,691	*	Gulfport Energy Corp		14,835
	459,757	*,e	Halcon Resources Corp		3,582
	14,600		Hallador Petroleum Co		101
	3,716,519		Halliburton Co		150,185
	1,424	e	Hankook Shell Oil Co Ltd		418
	61,034		Hargreaves Services plc		773
	68,602	*,e	Harvest Natural Resources, Inc		241
	538,683	*,e	Heckmann Corp		2,311
	422,025	*,e	Helix Energy Solutions Group, Inc		9,656
	89,198		Hellenic Petroleum S.A.		857
	556,962		Helmerich & Payne, Inc		33,808
	649,664	*	Hercules Offshore, Inc		4,821
	276,005	*,e	Heritage Oil Ltd		750
	1,374,267		Hess Corp		98,411
	190,900	*	Hibiscus Petroleum BHD		93
	2,188,000	e	Hidili Industry International Development Ltd		487
	592,000		Hilong Holding Ltd		242
	235,849	*	Hindustan Oil Exploration		228

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,851	*	Hoegh LNG Holdings Ltd	$	385
	922,083		Holly Corp		47,441
	1,549,000	e	Honghua Group Ltd		724
	1,394,691	*,e	Horizon Oil Ltd		605
	140,802	*	Hornbeck Offshore Services, Inc		6,542
	400,800	*	HRT Participacoes em Petroleo S.A.		660
	150,995		Hunting plc		2,048
	1,267,774	e	Husky Energy, Inc		36,391
	56,625	e	Idemitsu Kosan Co Ltd		4,940
	858,250	e	Imperial Oil Ltd		35,079
	1,771,705		Inner Mongolia Yitai Coal Co		10,300
	3,004		Inpex Holdings, Inc		16,179
	494,801	*	ION Geophysical Corp		3,370
	27,865,700		IRPC PCL		3,725
	5,080	*,e	Isramco, Inc		504
	322,700	*	Ithaca Energy, Inc		550
	138,553		Itochu Enex Co Ltd		789
	3,200	e	Japan Drilling Co Ltd		194
	2,454		Japan Petroleum Exploration Co		97
	142,746	*	JKX Oil & Gas plc		164
	730,546		John Wood Group plc		9,652
	2,307,361		JX Holdings, Inc		13,010
	59,000		Kanto Natural Gas Development Ltd		425
	209,649	*,e	Karoon Gas Australia Ltd		1,133
	54,555	*,e	Kelt Exploration Ltd		357
	610,588	*	Key Energy Services, Inc		4,934
	118,921	e	Keyera Facilities Income Fund		6,683
	687,837		Kinder Morgan, Inc		26,606
	101,656	*,e	KiOR, Inc (Class A)		473
	79,069	e	Knightsbridge Tankers Ltd		648
	1,722,637	*	KNM Group BHD		268
	2,791,271	*,e	Kodiak Oil & Gas Corp		25,373
	606,215	*	Kosmos Energy LLC		6,850
	189,727	e	Kumba Resources Ltd		3,373
	563,831		Kvaerner ASA		1,176
	1,096,455	*,e	Laredo Petroleum Holdings, Inc		20,054
	168,000	*	Legacy Oil & Gas, Inc		901
	373,336	*,e	Linc Energy Ltd		882
	52,400	e	Longview Oil Corp		247
	71,906		Lubelski Wegiel Bogdanka S.A.		2,638
	368,475	e	Lufkin Industries, Inc		24,463
	1,066,921		LUKOIL (ADR)		68,749
	17,797	*	Lundin Petroleum AB		387
	200,552		Magellan Midstream Partners LP		10,715
	538,576	*,e	Magnum Hunter Resources Corp		2,160
	3,915,605		Marathon Oil Corp		132,034
	1,532,140		Marathon Petroleum Corp		137,280
	222,505		Maridive & Oil Services SAE		247
	787,478	*,e	Matador Resources Co		6,977
	43,583	e	Matrix Composites & Engineering Ltd		49
	132,833	*	Matrix Service Co		1,979
	105,932	*	Maurel & Prom Nigeria		436

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	152,731	*,e	Maverick Drilling & Exploration Ltd	$	101
	855,003	*	McDermott International, Inc		9,396
	358,198	*,e	McMoRan Exploration Co		5,857
	119,880	*	MEG Energy Corp		3,848
	132,843		Miclyn Express Offshore Ltd		289
	121,114	*,e	Midnight Oil Exploration Ltd		343
	207,966	*,e	Midstates Petroleum Co, Inc		1,778
	2,470,000	e	MIE Holdings Corp		614
	145,012	*,e	Miller Petroleum, Inc		538
	42,352	*,e	Mitcham Industries, Inc		717
	23,600	e	Modec, Inc		711
	62,881		MOL Hungarian Oil and Gas plc		4,417
	4,993,117	*	Mongolia Energy Co ltd		200
	148,748		Motor Oil Hellas Corinth Refineries S.A.		1,443
	233,067	e	Mullen Group Ltd		5,137
	933,887		Murphy Oil Corp		59,517
	1,603,863	e	Nabors Industries Ltd		26,015
	482,904	*	Nagarjuna Oil Refinery Ltd		27
	48,350	*	Naphtha Israel Petroleum Corp Ltd		249
	1,341,712		National Oilwell Varco, Inc		94,926
	64,207	*	Natural Gas Services Group, Inc		1,237
	272,715	e	Neste Oil Oyj		3,854
	874,366		New Zealand Oil & Gas Ltd		626
	244,810	*	Newfield Exploration Co		5,489
	3,700,000	e	Newocean Energy Holdings Ltd		2,114
	470,942	*,e	Newpark Resources, Inc		4,370
	1,117,197	*	Nexus Energy Ltd		186
	117,200		Niko Resources Ltd		737
	908,906		Noble Energy, Inc		105,124
	222,137	e	Nordic American Tanker Shipping		2,566
	163,404		Northern Offshore Ltd		290
	223,198	*,e	Northern Oil And Gas, Inc		3,210
	282,500	*,e	Norwegian Energy Co AS		222
	215,606		NovaTek OAO (GDR)		23,233
	123,079	*	NuVista Energy Ltd		788
	281,417	*	Oasis Petroleum, Inc		10,714
	3,927,221		Occidental Petroleum Corp		307,776
	615,481		Oceaneering International, Inc		40,874
	1,888,477	*	OGX Petroleo e Gas Participacoes S.A.		2,159
	1,207,942	*	Oil Refineries Ltd		639
	335,267		Oil Search Ltd		2,608
	135,495	*	Oil States International, Inc		11,052
	362,727		OMV AG.		15,466
	1,758,126	*,e	Ophir Energy plc		12,419
	394,997		Origin Energy Ltd		5,497
	52,146		Pacific Rubiales Energy Corp		1,100
	1,206,913		Pacific Rubiales Energy Corp (Toronto)		25,472
	995,999	*,e	Paladin Resources Ltd		1,036
	26,803		Panhandle Oil and Gas, Inc (Class A)		768
	56,789	*	Paramount Resources Ltd (Class A)		2,096
	239,000	*	Parex Resources, Inc		1,089
	487,790	*	Parker Drilling Co		2,088

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	193,015	e	Parkland Income Fund	$	3,249
	156,670		Pason Systems, Inc		2,733
	751,929	e	Patterson-UTI Energy, Inc		17,926
	5,331		Paz Oil Co Ltd		832
	25,410		PBF Energy, Inc		944
	122,165	*	PDC Energy, Inc		6,056
	591,107		Peabody Energy Corp		12,502
	239,303	e	Pembina Pipeline Income Fund		7,562
	456,523	e	Pengrowth Energy Trust		2,328
	498,573	e	Penn Virginia Corp		2,014
	416,945	e	Penn West Energy Trust		4,482
	526,241	e	PetroBakken Energy Ltd		4,574
	1,174,982		Petrofac Ltd		25,649
	4,715,976		Petroleo Brasileiro S.A.		39,324
	678,700		Petroleo Brasileiro S.A. (ADR)		11,246
	6,921,366		Petroleo Brasileiro S.A. (Preference)		62,851
	1,601,749		Petroleum Geo-Services ASA		24,846
	268,711	e	Petrominerales Ltd		1,635
	866,418		Petronas Dagangan BHD		6,559
	203,887	*,e	Petroquest Energy, Inc		905
	211,302	e	Peyto Energy Trust		5,604
	53,491	*,e	PHI, Inc		1,830
	132,300	*	Philex Petroleum Corp		102
	2,697,071		Phillips 66		188,714
	305,035	*	Pioneer Energy Services Corp		2,517
	523,316		Pioneer Natural Resources Co		65,022
	271,370	*	Plains Exploration & Production Co		12,882
	363,491	*,e	Polarcus Ltd		405
	2,642,889	*	Polish Oil & Gas Co		4,494
	416,132	*	Polski Koncern Naftowy Orlen S.A.		6,574
	100,100	m	Poseidon Concepts Corp		13
	291,700	e	Precision Drilling Trust		2,696
	764,398	*	Premier Oil plc		4,525
	317,304		ProSafe ASA		3,097
	6,907,000	*	PT Benakat Petroleum Energy		128
	13,896,500		PT Bumi Resources Tbk		991
	7,693,000	*	PT Delta Dunia Petroindo Tbk		167
	27,384,000	*	PT Energi Mega Persada Tbk		283
	6,525,000		PT Indika Energy Tbk		823
	1,174,700		PT Indo Tambangraya Megah		4,305
	2,234,000		PT Medco Energi Internasional Tbk		374
	401,000		PT Resource Alam Indonesia Tbk		94
	11,861,872		PT Tambang Batubara Bukit Asam Tbk		17,637
	1,837,530		PTT Exploration & Production PCL		9,353
	1,792,950		PTT PCL		19,889
	319,534		Questar Market Resources, Inc		10,174
	702,760	*,e	Quicksilver Resources, Inc		1,581
	336,574		Range Resources Corp		27,276
	308,610	*,e	Red Fork Energy Ltd		245
	184,000	*	Refinaria de Petroleos de Manguinhos S.A.		25
	1,156,654		Refineria La Pampilla S.A. Relapasa		295
	2,364,088		Reliance Industries Ltd		33,696

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	79,404	*,e	Renewable Energy Group, Inc	$	611
	923,642		Rentech, Inc		2,171
	1,031,774		Repsol YPF S.A.		20,962
	217,843	*,e	Resolute Energy Corp		2,507
	177,662	*,e	Rex Energy Corp		2,928
	19,764	*,e	Rex Stores Corp		437
	43,117	*	RigNet, Inc		1,075
	1,755,492	*	Roc Oil Co Ltd		918
	387,158	*,e	Rockhopper Exploration plc		889
	272,412	*	Rosetta Resources, Inc		12,961
	2,458,107		Rosneft Oil Co (GDR)		18,799
	572,460	*	Rowan Cos plc		20,242
	5,841,252		Royal Dutch Shell plc (A Shares)		189,393
	3,600,303		Royal Dutch Shell plc (B Shares)		119,728
	306,496	e	RPC, Inc		4,650
	161,470	*	RusPetro plc		83
	311,043		Saipem S.p.A.		9,560
	368,966	*	Salamander Energy plc		1,165
	108,000		San-Ai Oil Co Ltd		545
	39,400	*,e	Sanchez Energy Corp		785
	886,099	*,e	SandRidge Energy, Inc		4,670
	119,496	*,e	Santonia Energy, Inc		173
	360,779		Santos Ltd		4,686
	3,799,000	*	Sapurakencana Petroleum BHD		3,688
	404,937	*	Saras S.p.A.		494
	67,005	*,e	Saratoga Resources, Inc		178
	996,265		Sasol Ltd		44,118
	109,438	e	Savanna Energy Services Corp		738
	207,860	*	SBM Offshore NV		3,468
	6,016,428		Schlumberger Ltd		450,570
	13,703		Schoeller-Bleckmann Oilfield Equipment AG.		1,372
	569,500	*	Scomi Group BHD		64
	375,464	*,e	Scorpio Tankers, Inc		3,349
	52,759	e	SEACOR Holdings, Inc		3,887
	90,663	e	SeaDrill Ltd		3,304
	131,300	*	Secure Energy Services, Inc		1,579
	143,988	*	SemGroup Corp		7,447
	133,850		Semirara Mining Corp		877
	1,553,347	*	Senex Energy Ltd		1,103
	50	*,m	Serval Integrated Energy Services		0	^
	584,612	*,e	Sevan Drilling AS.		383
	219,200		Shandong Molong Petroleum Machinery Co Ltd		94
	149,979	*	ShawCor Ltd		6,359
	1,522,500	m	Shengli Oil&Gas Pipe Holdings Ltd		80
	59,300		Shinko Plantech Co Ltd		480
	164,876	e	Ship Finance International Ltd		2,908
	61,147		Showa Shell Sekiyu KK		434
	132,800		Siamgas & Petrochemicals PCL		60
	93,000		Sinanen Co Ltd		400
	8,240,000	*,e	Sino Union Energy Investment Group Ltd		553
	584,000	e	Sinopec Kantons Holdings Ltd		514
	76,749		SK Energy Co Ltd		11,301

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,325		SK Gas Co Ltd	$	776
	483,706	*	Soco International plc		2,766
	72,385		S-Oil Corp		6,117
	122,315	*,e	Solazyme, Inc		955
	168,771	*,e	Songa Offshore SE		166
	446,700	*	Southern Pacific Resource Corp		352
	109,200	*	SouthGobi Resources Ltd		215
	1,120,578	*,e	Southwestern Energy Co		41,753
	6,217,321		Spectra Energy Corp		191,183
	109,222		Sprott Resource Corp		490
	139,917		St. Mary Land & Exploration Co		8,286
	1,447,967		Statoil ASA		35,349
	234,114	*	Stone Energy Corp		5,092
	2,700,206		Suncor Energy, Inc		80,912
	2,240,098		Suncor Energy, Inc (NY)		67,225
	844,254	*	Superior Energy Services		21,925
	89,300	*,e	Surge Energy, Inc		286
	2,593,625	e	Surgutneftegaz (ADR)		23,191
	339,700	e	Surgutneftegaz (ADR) (London)		3,057
	1,603,000	e	Swiber Holdings Ltd		870
	171,665	*,e	Swift Energy Co		2,542
	139,456	*,e	Synergy Resources Corp		957
	70,300	*	TAG Oil Ltd		290
	895,870		Talisman Energy, Inc		10,953
	143,682		Targa Resources Investments, Inc		9,765
	395,477		Tatneft (GDR)		15,666
	353,594		Technip S.A.		36,268
	220,442		Tecnicas Reunidas S.A.		10,334
	85,007		Teekay Corp		3,057
	225,091	e	Teekay Tankers Ltd (Class A)		642
	260,552		Tenaris S.A.		5,306
	140,174	*	Tesco Corp		1,877
	727,807		Tesoro Corp		42,613
	351,821	*	Tetra Technologies, Inc		3,610
	53,878	e	TGC Industries, Inc		533
	237,814		TGS Nopec Geophysical Co ASA		9,013
	3,932,300		Thai Oil PCL		8,630
	119,789	e	Tidewater, Inc		6,049
	120,274		TMK OAO (GDR)		1,438
	91,431		TonenGeneral Sekiyu KK		907
	60,743		Total Energy Services, Inc		849
	2,514,308	*,e	Total S.A.		120,420
	395,600	*	Tourmaline Oil Corp		15,297
	162,000	e	Toyo Kanetsu K K		613
	1,101,341	e	TransCanada Corp		52,582
	86,300	*	TransGlobe Energy Corp		739
	406,948	*	Transocean Ltd		21,025
	508,159	*	Transocean Ltd-NYSE		26,404
	342,521	*,e	Triangle Petroleum Corp		2,261
	184,300	e	Trican Well Service Ltd		2,703
	65,680	e	Trilogy Energy Corp		1,894
	296,066		Trinidad Drilling Ltd		2,145

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,954,872		Tullow Oil plc	$	55,314
	257,829		Tupras Turkiye Petrol Rafine		7,755
	340,343		Turcas Petrolculuk AS		698
	226,300	e	Twin Butte Energy Ltd		548
	274,680	*,e	Ultra Petroleum Corp		5,521
	579,700		Ultrapar Participacoes S.A.		14,659
	149,546	*	Unit Corp		6,812
	235,256	*,e	Uranerz Energy Corp		299
	302,092	*,e	Uranium Energy Corp		665
	650,654	*	Uranium One, Inc		1,793
	417,652	*	Vaalco Energy, Inc		3,170
	2,593,043		Valero Energy Corp		117,958
	78,145	*	Valiant Petroleum plc		533
	646,960	*,e	Vantage Drilling Co		1,132
	246,300	e	Veresen, Inc		3,142
	319,431	e	Vermilion Energy Trust		16,540
	221,272	e	W&T Offshore, Inc		3,142
	4,983,294		Wah Seong Corp BHD		2,657
	428,443	*	Warren Resources, Inc		1,375
	2,776,341	*	Weatherford International Ltd		33,705
	110,775	*	West Siberian Resources Ltd (GDR)		885
	64,800		Western Energy Services Corp		477
	588,953	e	Western Refining, Inc		20,855
	105,574	*	Westfire Energy Ltd		471
	41,088	*,e	Westmoreland Coal Co		467
	155,600		Whitecap Resources, Inc		1,481
	300,475	e	Whitehaven Coal Ltd		668
	263,363	*	Whiting Petroleum Corp		13,389
	405,603	*	Willbros Group, Inc		3,983
	2,128,314		Williams Cos, Inc		79,727
	1,071,351		Woodside Petroleum Ltd		40,155
	228,966	e	World Fuel Services Corp		9,095
	139,005		WorleyParsons Ltd		3,595
	419,637	*,e	WPX Energy, Inc		6,723
	204,128	*,e	Xcite Energy Ltd		352
	421,571	*,e	Xenolith Resources Ltd		228
	7,250,200	e	Yanzhou Coal Mining Co Ltd		9,839
	65,735	e	Zargon Energy Trust		477
	124,777	*,e	ZaZa Energy Corp		227
			TOTAL ENERGY		10,683,629
FOOD & STAPLES RETAILING - 1.7%
	524,709	e	Aeon Co Ltd		6,794
	11,900		Ain Pharmaciez Inc		642
	161,941		Alimentation Couche Tard, Inc		8,777
	278,195		Almacenes Exito S.A.		5,029
	71,553		Andersons, Inc		3,830
	36,379		Arcs Co Ltd		816
	4,438		Arden Group, Inc (Class A)		449
	49,485		Axfood AB		2,016
	174,000		Beijing Jingkelong Co Ltd		68
	140,360		BIM Birlesik Magazalar AS		6,841

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,862		Bizim Toptan Satis Magazalari AS	$	682
	2,914,445		Booker Group plc		5,391
	380,368		Brazil Pharma S.A.		2,682
	961,109		Carrefour S.A.		26,328
	138,649		Casey’s General Stores, Inc		8,083
	124,962		Casino Guichard Perrachon S.A.		13,140
	43,100	e	Cawachi Ltd		921
	2,356,181		Centros Comerciales Sudamericanos S.A.		14,655
	60,273	*,e	Chefs’ Warehouse Holdings, Inc		1,113
	1,747,800	e	China Resources Enterprise		5,193
	218,706		Cia Brasileira de Distribuicao Grupo Pao de Acucar		11,560
	3,300	e	CJ Freshway Corp		113
	509,314	e	Clicks Group Ltd		3,216
	39,360		Cocokara Fine Holdings, Inc		1,439
	49,455		Colruyt S.A.		2,391
	521,600	e	Controladora Comercial Mexicana S.A. de C.V.		1,916
	9,900		Cosmos Pharmaceutical Corp		1,286
	1,936,767		Costco Wholesale Corp		205,510
	9,864,600		CP Seven Eleven PCL		15,435
	18,000		Create SD Holdings Co Ltd		713
	3,378,348		CVS Corp		185,775
	5,900		Daikokutenbussaan Co Ltd		150
	104,304	e	Delhaize Group		5,694
	519,213		Distribuidora Internacional de Alimentacion S.A.		3,604
	20,762		Dongsuh Co, Inc		437
	27,147		E-Mart Co Ltd		5,368
	44,750		Empire Co Ltd		2,914
	65,976		Eurocash S.A.		1,077
	112,774		FamilyMart Co Ltd		5,155
	130,000	*	Fonterra Shareholders’ Fund		815
	39,099	*,e	Fresh Market, Inc		1,672
	82,210		George Weston Ltd		6,112
	117,776		Greggs plc		855
	20,030		Growell Holdings Co Ltd		1,029
	72,266		Hakon Invest AB		1,859
	171,093		Harris Teeter Supermarkets, Inc		7,307
	36,200		Heiwado Co Ltd		560
	3,032	*	Indiabulls Wholesale Service		1
	53,986		Ingles Markets, Inc (Class A)		1,160
	20,582	*	Inretail Peru Corp		492
	5,600		Itochu-Shokuhin Co Ltd		228
	132,741	e	Izumiya Co Ltd		700
	3,139,124		J Sainsbury plc		18,081
	189,761		Jean Coutu Group PJC, Inc		2,957
	189,720	e	Jeronimo Martins SGPS S.A.		3,695
	52,100		Kasumi Co Ltd		325
	26,200		Kato Sangyo Co Ltd		548
	18,242	e	Kesko Oyj (B Shares)		571
	1,768,064		Koninklijke Ahold NV		27,105
	4,100,516		Kroger Co		135,891
	3,100	*	Kusuri No Aoki Co Ltd		243
	111,659		Lawson, Inc		8,573

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,058,000	e	Lianhua Supermarket Holdings Co Ltd	$	845
	28,100	e	Liquor Stores Income Fund		503
	148,050	e	Loblaw Cos Ltd		6,229
	582,573	e	Magnit OAO (GDR)		26,376
	74,254		Majestic Wine plc		481
	74,199		MARR S.p.A.		815
	43,233	e	Maruetsu, Inc		161
	166,012		Massmart Holdings Ltd		3,435
	121,366	e	Matsumotokiyoshi Holdings Co Ltd		3,479
	170,602	e	Metcash Ltd		737
	435,049		Metro AG.		12,384
	279,098		Metro, Inc		17,487
	34,100		Ministop Co Ltd		553
	57,462		Nash Finch Co		1,125
	29,300	*,e	Natural Grocers by Vitamin C		661
	106,471		North West Co Fund		2,431
	139,428		O’Key Group S.A. (GDR)		1,589
	24,000		Okuwa Co Ltd		273
	137,810	e	Olam International Ltd		192
	163,235	*	Pantry, Inc		2,036
	594,251	e	Pick’n Pay Holdings Ltd		1,196
	234,913	e	Pick’n Pay Stores Ltd		1,088
	1,320,720		President Chain Store Corp		7,255
	65,810	e	Pricesmart, Inc		5,122
	2,947,500		PT Sumber Alfaria Trijaya Tbk		1,972
	1,886,500		Puregold Price Club, Inc		1,853
	474,772		Raia Drogasil S.A.		5,063
	56,749		Rallye S.A.		2,082
	7,417		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		301
	3,084,222	*	Rite Aid Corp		5,860
	103,380	e	Roundy’s, Inc		679
	10,379	e	Ryoshoku Ltd		333
	21,000		S Foods, Inc		202
	545,442	e	Safeway, Inc		14,372
	8,700		San-A Co Ltd		397
	1,420,719		Seven & I Holdings Co Ltd		47,139
	533,000		Sheng Siong Group Ltd		282
	288,978	e	Shoppers Drug Mart Corp		12,366
	753,147		Shoprite Holdings Ltd		14,982
	157,741		Shufersal Ltd		488
	48,100		Siam Makro PCL		867
	220,486		Spar Group Ltd		2,728
	81,243		Spartan Stores, Inc		1,426
	45,700	e	Sugi Pharmacy Co Ltd		1,630
	3,277,900	e	Sun Art Retail Group Ltd		4,566
	40,300		Sundrug Co Ltd		1,792
	773,368	e	Supervalu, Inc		3,898
	41,818	*	Susser Holdings Corp		2,137
	776,043		Sysco Corp		27,293
	474,000		Taiwan TEA Corp		275
	11,903,710		Tesco plc		69,198
	672,991		Total Produce plc		572

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,788		Tsuruha Holdings, Inc	$	3,105
	201,339	*	United Natural Foods, Inc		9,906
	543,100		UNY Co Ltd		4,230
	63,200		Valor Co Ltd		1,210
	35,722		Village Super Market (Class A)		1,203
	2,423,432		Walgreen Co		115,549
	7,099,821		Wal-Mart de Mexico S.A. de C.V. (Series V)		23,223
	6,561,439		Wal-Mart Stores, Inc		490,992
	43,926		Weis Markets, Inc		1,788
	1,267,363		Wesfarmers Ltd		53,217
	1,209,973		Whole Foods Market, Inc		104,965
	1,665,437		WM Morrison Supermarkets plc		7,000
	1,362,046		Woolworths Ltd		48,085
	758,099	*	Wumart Stores, Inc		1,370
	8,600		Yaoko Co Ltd		375
	42,700		Yokohama Reito Co Ltd		410
			TOTAL FOOD & STAPLES RETAILING		1,975,816
FOOD, BEVERAGE & TOBACCO - 5.7%
	56,561		AarhusKarlshamn AB		2,863
	95,862	*	AGV Products Corp		34
	446,181		Ajinomoto Co, Inc		6,561
	17,305	e	Alico, Inc		800
	390,934		Alicorp S.A.		1,457
	14,816		Alliance Grain Traders, Inc		189
	291,137	*,e	Alliance One International, Inc		1,133
	12,004,250		Altria Group, Inc		412,826
	36,097		Amsterdam Commodities NV		732
	265,164		Anadolu Efes Biracilik Ve Malt Sanayii AS		4,248
	2,974	*,m	Anheuser-Busch InBev NV		0	^
	23,814	*,e	Annie’s, Inc		911
	76,655	*	AquaChile S.A.		62
	1,867,546		Archer Daniels Midland Co		62,992
	20,300		Ariake Japan Co Ltd		417
	13,918		Aryzta AG.		823
	556,361		Asahi Breweries Ltd		13,304
	1,227,624		Asian Citrus Holdings Ltd		633
	291,000		Asiatic Development BHD		810
	444,471		Associated British Foods plc		12,856
	84,351	e	Astral Foods Ltd		865
	28,737		Atria Group plc		245
	771,000	m	Ausnutria Dairy Corp Ltd		73
	221,358		Austevoll Seafood ASA		1,343
	311,861	*	Australian Agricultural Co Ltd		419
	519,264		AVI Ltd		3,033
	185,835		B&G Foods, Inc (Class A)		5,666
	866,895		Bajaj Hindusthan Ltd		303
	179,659		Balrampur Chini Mills Ltd		144
	1,751		Barry Callebaut AG.		1,689
	521,704		Beam, Inc		33,149
	217,000	*,e	Besunyen Holdings		9

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,905		Binggrae Co Ltd	$	1,291
	344,500		Biostime Internatonal Holdings Ltd		1,799
	153,246	*	Black Earth Farming Ltd		294
	15,836		Bonduelle S.C.A.		400
	27,061	*,e	Boston Beer Co, Inc (Class A)		4,320
	232,518	*,e	Boulder Brands, Inc		2,088
	6,400		Britannia Industries Ltd		62
	235,700		British American Tobacco Malaysia BHD		4,757
	2,566,790		British American Tobacco plc		137,638
	628,406		Britvic plc		4,251
	656,109		Brown-Forman Corp (Class B)		46,846
	185,000	*	Bumitama Agri Ltd		153
	653,550	e	Bunge Ltd		48,252
	498,218		C&C Group plc		3,237
	43,157	e	Calavo Growers, Inc		1,242
	45,600	e	Calbee, Inc		3,588
	80,024	e	Cal-Maine Foods, Inc		3,406
	871,599	e	Campbell Soup Co		39,536
	11,082	e	Carlsberg AS (Class B)		1,080
	117,500		Carlsberg Brewery-Malay BHD		518
	82,161		Casa Grande S.A.		344
	68,005	*,e	Central European Distribution Corp		23
	67,625		Cermaq ASA		1,076
	717,000		Changshouhua Food Co Ltd		409
	3,744,400		Charoen Pokphand Foods PCL		4,226
	5,017,610	e	China Agri-Industries Holdings Ltd		2,592
	840,000	*,e	China Green Holdings Ltd		145
	1,273,500	*,e	China Huiyuan Juice Group Ltd		639
	1,807,900		China Mengniu Dairy Co Ltd		5,188
	365,292	*,e	China Minzhong Food Corp Ltd		356
	1,551,000	*,e	China Modern Dairy Holdings		519
	5,760,000		China Starch Holdings Ltd		165
	1,580,000		China Tontine Wines Group Ltd		102
	1,762,000	*,e	China Yurun Food Group Ltd		1,213
	195,170	*,e	Chiquita Brands International, Inc		1,515
	247,191		Cia Cervecerias Unidas S.A.		4,111
	82,700		Cia de Bebidas das Americas		3,384
	11,068		CJ CheilJedang Corp		3,409
	67,016		Clover Industries Ltd		124
	102,600		Coca Cola Hellenic Bottling Co S.A.		2,751
	453,647		Coca-Cola Amatil Ltd		6,898
	27,905		Coca-Cola Bottling Co Consolidated		1,683
	105,795	e	Coca-Cola Central Japan Co Ltd		1,395
	18,388,683		Coca-Cola Co		743,638
	1,206,991		Coca-Cola Enterprises, Inc		44,562
	596,487	e	Coca-Cola Femsa S.A. de C.V.		9,658
	203,777		Coca-Cola Icecek AS		5,773
	75,067		Coca-Cola West Japan Co Ltd		1,308
	44,600	e	Cofco International Ltd		26
	2,350,817		ConAgra Foods, Inc		84,183
	359,145	*	Constellation Brands, Inc (Class A)		17,110
	23,549		Copeinca ASA		244

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	168,842	e	Cott Corp	$	1,705
	42,386	*,e	Craft Brewers Alliance, Inc		315
	23,051	*,e	Crimson Wine Group Ltd		214
	1,787		Crown Confectionery Co Ltd		414
	102,809		CSM		2,175
	8,759,205	*	D.E Master Blenders 1753 NV		135,297
	515,000		DaChan Food Asia Ltd		74
	2,160		Dae Han Flour Mills Co Ltd		255
	73,460	e	Daesang Corp		2,425
	157,450		Dairy Crest Group plc		1,030
	1,298,000	*,e,m	Daqing Dairy Holdings Ltd		140
	580,152	*	Darling International, Inc		10,420
	365,253		Davide Campari-Milano S.p.A.		2,844
	4,125,236	*	Dean Foods Co		74,791
	380,454		Devro plc		2,029
	3,420,569		Diageo plc		107,784
	83,013	*,e	Diamond Foods, Inc		1,400
	126,690	*,e	Dole Food Co, Inc		1,381
	4,594		Dongwon F&B Co Ltd		458
	2,650		Dongwon Industries Co Ltd		701
	297,793		Dr Pepper Snapple Group, Inc		13,981
	9,300		Dydo Drinco, Inc		445
	1,214,000	*,e	Dynasty Fine Wines Group Ltd		225
	11,424		East Asiatic Co Ltd AS		198
	92,625		Ebro Puleva S.A.		1,840
	15,261		Embotelladora Andina S.A.		102
	445,658		Embotelladoras Arca SAB de C.V.		3,339
	3,565,492		Empresas Iansa S.A.		268
	162,464	e	Ezaki Glico Co Ltd		1,686
	32,163	*,e	Farmer Bros Co		473
	831,800		Felda Global Ventures Holdings BHD		1,230
	821,357	e	First Resources Ltd		1,216
	280,545		Flowers Foods, Inc		9,241
	4,231,933		Fomento Economico Mexicano S.A. de C.V.		47,615
	143,613	e	Fresh Del Monte Produce, Inc		3,875
	67,373		Fuji Oil Co Ltd		1,039
	35,832		Fujicco Co Ltd		429
	222,000	e	Fujiya Co Ltd		477
	1,565,980	e	General Mills, Inc		77,218
	301,200		GFPT PCL		85
	322,814		Glanbia plc		3,832
	6,042,000	e	Global Bio-Chem Technology Group Co Ltd		523
	3,608,000		GMG Global Ltd		364
	2,938,021		Golden Agri-Resources Ltd		1,375
	2,590,590	*	Goodman Fielder Ltd		1,923
	558,792		GrainCorp Ltd-A		6,813
	841,517		Great Wall Enterprise Co		751
	1,201,665	*,e	Green Mountain Coffee Roasters, Inc		68,207
	665,498		Greencore Group plc		1,075
	11,592	e	Griffin Land & Nurseries, Inc (Class A)		348
	464,922		Groupe Danone		32,372
	720,300	*,e	Gruma SAB de C.V.		3,185

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,251,528	e	Grupo Bimbo S.A. de C.V. (Series A)	$	7,199
	320,400	e	Grupo Herdez SAB de C.V.		1,178
	903,994	e	Grupo Modelo S.A. (Series C)		8,194
	430,267		H.J. Heinz Co		31,095
	131,938	*,e	Hain Celestial Group, Inc		8,059
	225,000		Hap Seng Plantations Holdings BHD		198
	98,254	e	Harim & Co Ltd		313
	110,381		Heineken Holding NV		7,083
	334,651		Heineken NV		25,242
	816,440		Hershey Co		71,463
	790,000		Hey Song Corp		1,035
	548,590		Hillshire Brands Co		19,283
	45,320		Hite Holdings Co Ltd		690
	61,220		HKScan Oyj		295
	24,200	e	Hokuto Corp		459
	208,096		Hormel Foods Corp		8,599
	76,352	e	House Foods Corp		1,327
	250,500		IJM Plantations BHD		244
	319,050		Illovo Sugar Ltd		1,103
	1,343,671		Imperial Tobacco Group plc		46,995
	810,513		InBev NV		80,579
	717,978	e	Indofood Agri Resources Ltd		717
	1,012,402		Ingredion, Inc		73,217
	77,020	*	Inventure Foods, Inc		599
	3,760,976		IOI Corp BHD		5,660
	4,742,887		ITC Ltd		27,022
	133,100	e	Ito En Ltd		3,218
	188,000	e	Itoham Foods, Inc		936
	73,490		J&J Snack Foods Corp		5,651
	221,423		J.M. Smucker Co		21,956
	1,865,200		Japan Tobacco, Inc		59,663
	1,547,321	*	JBS S.A.		5,207
	28,490		John B. Sanfilippo & Son, Inc		569
	266,944		J-Oil Mills, Inc		852
	588,125		Juhayna Food Industries		677
	90,073	e	Kagome Co Ltd		1,713
	50,424		Kaveri Seed Co Ltd		1,117
	2,979,424		Kellogg Co		191,964
	59,013	*	Kernel Holding S.A.		1,071
	184,764		Kerry Group plc (Class A)		11,010
	20,200	e	KEY Coffee, Inc		331
	2,170,900		Khon Kaen Sugar Industry PCL		979
	138,560	e	Kikkoman Corp		2,423
	812,000		Kingway Brewery Holdings Ltd		320
	1,163,358		Kirin Brewery Co Ltd		18,705
	94,664		Koninklijke Wessanen NV		275
	1,027		Kook Soon Dang Brewery Co Ltd		8
	1,950,322		Kraft Foods Group, Inc		100,500
	227,301		KT&G Corp		15,424
	563,373		Kuala Lumpur Kepong BHD		3,773
	2,596		KWS Saat AG.		927
	1,156,000		Labixiaoxin Snacks Group Ltd		565

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	63,681		Lancaster Colony Corp	$	4,903
	190,676		Lance, Inc		4,816
	21,826	e	Leroy Seafood Group ASA		581
	342,987		Lien Hwa Industrial Corp		223
	22,775	e	Lifeway Foods, Inc		317
	32,347	e	Limoneira Co		625
	193		Lindt & Spruengli AG.		743
	112		Lindt & Spruengli AG. (Reg)		5,054
	899,245		Lorillard, Inc		36,285
	1,073	e	Lotte Chilsung Beverage Co Ltd		1,447
	2,399		Lotte Confectionery Co Ltd		3,807
	1,411		Lotte Samkang Co Ltd		1,035
	7,627		Maeil Dairy Industry Co Ltd		276
	143,445		Maple Leaf Foods, Inc		1,940
	591,200		Marfrig Alimentos S.A.		2,469
	135,000		Marudai Food Co Ltd		460
	902,000		Maruha Nichiro Holdings, Inc		1,725
	314,941		McCormick & Co, Inc		23,164
	75,219		McLeod Russel India Ltd		486
	669,980		Mead Johnson Nutrition Co		51,890
	56,900		Megmilk Snow Brand Co Ltd		903
	13,781	e	MEIJI Holdings Co Ltd		632
	404,000	e	Mewah International, Inc		155
	177,201	*	MHP SA (GDR)		3,145
	36,200		Mikuni Coca-Cola Bottling Co Ltd		370
	575,500		Minerva S.A.		3,731
	355,000		Mitsui Sugar Co Ltd		1,122
	157,494		Molson Coors Brewing Co (Class B)		7,706
	4,103,610		Mondelez International, Inc		125,612
	1,865,481	*	Monster Beverage Corp		89,058
	418,302		Morinaga & Co Ltd		921
	528,000		Morinaga Milk Industry Co Ltd		1,629
	17,212	e	Muhak Co Ltd		235
	1,728,489		Multiexport Foods S.A.		558
	46,000		Namchow Chemical Industrial Ltd		43
	919		Namyang Dairy Products Co Ltd		882
	45,459		National Beverage Corp		639
	4,812		Naturex		369
	4,093,831		Nestle S.A.		296,289
	600,000		Nichirei Corp		3,598
	152,000		Nippon Beet Sugar Manufacturing Co Ltd		300
	368,000		Nippon Flour Mills Co Ltd		1,677
	36,594	e	Nippon Meat Packers, Inc		591
	607,466		Nippon Suisan Kaisha Ltd		1,178
	164,000		Nisshin Oillio Group Ltd		603
	48,808		Nisshin Seifun Group, Inc		645
	15,235	e	Nissin Food Products Co Ltd		699
	8,173	e	Nong Shim Co Ltd		2,264
	4,182	e	Nong Shim Holdings Co Ltd		269
	5,853		Nong Woo Bio Co Ltd		135
	86,360		Nutreco Holding NV		7,930
	109,990	*	Omega Protein Corp		1,182

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,511		Orion Corp	$	4,415
	96,578		Orkla ASA		776
	45,304		Osem Investments Ltd		868
	4,411		Ottogi Corp		1,197
	2,463,166		Pacific Andes International Holdings Ltd		121
	5,316,801		PAN Fish ASA		4,949
	7,290,774		PepsiCo, Inc		576,773
	901,671		Perdigao S.A.		19,901
	267,200		Pernod-Ricard S.A.		33,303
	83,354	e,m	Pescanova S.A.		316
	777,000	e	Petra Foods Ltd		2,606
	354,451		PGG Wrightson Ltd		110
	1,400		Philip Morris CR		787
	9,861,809		Philip Morris International, Inc		914,288
	620,792	*	Pilgrim’s Pride Corp		5,705
	56,539		Pinar SUT Mamulleri Sanayii AS		470
	275,548	*	Pinnacle Foods, Inc		6,120
	128,795	*	Post Holdings, Inc		5,529
	446,920		PPB Group BHD		1,821
	273,490	*,e	Premier Foods plc		333
	34,900		Premium Brands Holdings Corp		652
	180,000	e	Prima Meat Packers Ltd		437
	456,824		PT Astra Agro Lestari Tbk		873
	2,761,000		PT Bisi International		245
	3,839,500		PT BW Plantation Tbk		527
	14,786,000		PT Charoen Pokphand Indonesia Tbk		7,696
	585,200		PT Gudang Garam Tbk		2,954
	6,056,100		PT Indofood Sukses Makmur Tbk		4,649
	1,536,500		PT Japfa Comfeed Indonesia Tbk		1,498
	1,050,000		PT Malindo Feedmill Tbk		335
	1,512,500		PT Sampoerna Agro Tbk		327
	2,768,500		PT Tunas Baru Lampung Tbk		137
	130,900		Q.P. Corp		1,865
	852,700		QL Resources BHD		822
	19,517		Radico Khaitan Ltd		47
	833,359		REI Agro Ltd		155
	877,677		Remy Cointreau S.A.		101,435
	805,911	e	Reynolds American, Inc		35,855
	276,500		Rimbunan Sawit BHD		71
	23,901		Royal UNIBREW AS		2,126
	82,634		Ruchi Soya Industries Ltd		95
	1,492,425		SABMiller plc		78,719
	71,034		SABMiller plc (Johannesburg)		3,750
	8,263	e	Sajo Industries Co Ltd		373
	36,555		Sakata Seed Corp		482
	3,264		Samyang Genex Co Ltd		237
	12,214		Samyang Holdings Corp		763
	117,094	e	Sanderson Farms, Inc		6,396
	77,600		Sao Martinho S.A.		1,093
	1,822,000		Sapporo Holdings Ltd		7,757
	212,815		Saputo, Inc		10,806
	1,429		Seaboard Corp		4,001

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	33,172	*	Seneca Foods Corp	$	1,095
	370,100	*	Shanghai Dajiang Group		110
	159,000		Showa Sangyo Co Ltd		548
	1,374,268		Shree Renuka Sugars Ltd		564
	16,700		Silla Co Ltd		367
	12,403		Sipef S.A		1,004
	97,400		SLC Agricola S.A.		898
	539,713	*	Smithfield Foods, Inc		14,292
	2,626		Societa per la Bonifica dei Terreni Ferraresi e Imprese Agricole S.p.A.		129
	329,002	*	SOS Cuetara S.A.		109
	684,055		Souza Cruz S.A.		10,000
	350,080		Standard Foods Corp		1,036
	86,646		Strauss Group Ltd		1,222
	289,813		Suedzucker AG.		12,249
	225,000		Super Coffeemix Manufacturing Ltd		707
	146,200		Swedish Match AB		4,538
	75,044	*,e	Synutra International, Inc		353
	19,096		Taisun Enterprise Co Ltd		10
	78,000		Taiyen Biotech Co Ltd		79
	236,000		Takara Holdings, Inc		2,005
	284,926		Tassal Group Ltd		593
	156,384	*	TAT Konserve		200
	250,835		Tata Tea Ltd		592
	5,122,551		Tate & Lyle plc		66,189
	416,400		TH Plantations BHD		277
	1,215,200		Thai Vegetable Oil PCL		992
	493,000		Tibet 5100 Water Resources Holdings Ltd		147
	4,738,000		Tiga Pilar Sejahtera Food Tbk		626
	310,638		Tiger Brands Ltd		9,933
	2,516,200	e	Tingyi Cayman Islands Holding Corp		6,576
	151,761		Tongaat Hulett Ltd		2,368
	82,592	e	Tootsie Roll Industries, Inc		2,470
	279,942		Toyo Suisan Kaisha Ltd		8,642
	566,090		Treasury Wine Estates Ltd		3,365
	175,682	*	TreeHouse Foods, Inc		11,446
	14,010	e	TS Corp		344
	451,700	e	Tsingtao Brewery Co Ltd		2,882
	1,553,916		Tyson Foods, Inc (Class A)		38,568
	128,303		Ulker Biskuvi Sanayi AS		968
	2,969,923		Unilever NV		121,688
	170,000		Unilever NV (ADR)		6,970
	2,829,679		Unilever plc		119,687
	1,697,500	e	Uni-President China Holdings Ltd		1,943
	9,331,147		Uni-President Enterprises Corp		17,731
	3,433		United Breweries Ltd		44
	5,237		United International Enterprises		885
	5,400		United Malacca BHD		13
	119,433		United Spirits Ltd		4,173
	114,814	e	Universal Corp		6,434
	1,836,210		Universal Robina		5,084
	151,000		Ve Wong Corp		103

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	198,672	e	Vector Group Ltd	$	3,203
	5,462		Vilmorin & Cie		657
	743,559		Vina Concha Y Toro S.A.		1,506
	59,480		Viscofan S.A.		3,119
	3,158		Vranken - Pommery Monopole		82
	7,593,800	e	Want Want China Holdings Ltd		11,698
	10,900		Warabeya Nichiyo Co Ltd		176
	414,000		Wei Chuan Food Corp		626
	228,270	*,e	WhiteWave Foods Co		3,897
	3,849,188		Wilmar International Ltd		10,762
	42,892	e	Yakult Honsha Co Ltd		1,732
	154,942		Yamazaki Baking Co Ltd		2,046
	220,000		Yantai North Andre Juice Co		86
	1,490,000		Yashili International		506
	23,000		Yonekyu Corp		217
			TOTAL FOOD, BEVERAGE & TOBACCO		6,421,843
HEALTH CARE EQUIPMENT & SERVICES - 3.5%
	78,222		Abaxis, Inc		3,701
	9,729,558		Abbott Laboratories		343,648
	180,643	*,e	Abiomed, Inc		3,373
	94,791	*	Acadia Healthcare Co, Inc		2,786
	215,929	*,e	Accretive Health, Inc		2,194
	252,455	*,e	Accuray, Inc		1,171
	237,146		Advanced Medical Solutions Group plc		270
	12,620	*	Aerocrine AB		23
	2,004,339	e	Aetna, Inc		102,462
	387,365	*	AGFA-Gevaert NV		694
	62,626	*,m	AGFA-Gevaert NV Brussels		0	^
	276,748	e	Air Methods Corp		13,350
	137,167		Alfresa Holdings Corp		7,469
	345,409	*	Align Technology, Inc		11,575
	971,917	*	Allscripts Healthcare Solutions, Inc		13,208
	42,563		Almost Family, Inc		870
	223,459	*	Alphatec Holdings, Inc		472
	111,778	*,e	Amedisys, Inc		1,243
	676,855		AmerisourceBergen Corp		34,824
	159,600		Amil Participacoes S.A.		2,497
	283,717	*	AMN Healthcare Services, Inc		4,491
	101,232		Amplifon S.p.A.		530
	167,753	*	Amsurg Corp		5,643
	66,513		Analogic Corp		5,256
	57,625		Andor Technology Ltd		331
	88,038	*,e	Angiodynamics, Inc		1,006
	61,968	*	Anika Therapeutics, Inc		900
	176,511		Ansell Ltd		2,961
	353,889	*,e	Antares Pharma, Inc		1,267
	159,999		Apollo Hospitals Enterprise Ltd		2,470
	53,625		Arseus NV		1,405
	142,239	*	Arthrocare Corp		4,944
	11,600	e	Asahi Intecc Co Ltd		613
	106,866		Assisted Living Concepts, Inc (A Shares)		1,271

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	133,843	*,e	athenahealth, Inc	$	12,988
	51,353	*	AtriCure, Inc		407
	5,783		Atrion Corp		1,110
	49,966		Balda AG.		295
	2,108,200		Bangkok Chain Hospital PCL		850
	366,800		Bangkok Dusit Medical Service PCL		2,053
	376,500		Bangkok Dusit Medical Services PCL (ADR)		2,108
	118,162		Bard (C.R.), Inc		11,908
	2,502,148		Baxter International, Inc		181,756
	380,890	e	Becton Dickinson & Co		36,417
	86,400	*,e	Bio-Reference Labs, Inc		2,245
	153,999	*	BioScrip, Inc		1,957
	1,132,000	*,e	Biosensors International Group Ltd		1,195
	18,900		BML, Inc		510
	5,280,565	*	Boston Scientific Corp		41,241
	128,826	*	Brookdale Senior Living, Inc		3,592
	497,600		Bumrungrad Hospital PCL		1,463
	93,960		Cantel Medical Corp		2,824
	96,267	*	Capital Senior Living Corp		2,544
	2,465,983		Cardinal Health, Inc		102,634
	67,596	*,e	Cardiovascular Systems, Inc		1,384
	2,293,134	*	CareFusion Corp		80,237
	45,021		Carl Zeiss Meditec AG.		1,425
	1,631	*,e	Carmat		230
	3,320,319	*	Catamaran Corp		176,077
	364,054	*	Catamaran Corp (Toronto)		19,291
	34,327		Celesio AG.		646
	245,782	*	Centene Corp		10,824
	607,987	*	Cerner Corp		57,607
	188,798	*,e	Cerus Corp		834
	49,659	*,e	CHA Bio & Diostech Co Ltd		554
	70,036	e	Chemed Corp		5,601
	44,701	*,e	Chindex International, Inc		614
	1,247,406		Cigna Corp		77,801
	227,317	e	CML Healthcare Income Fund		1,625
	60,462		Cochlear Ltd		4,295
	531,907		Coloplast A.S.		28,661
	316,929		Community Health Systems, Inc		15,019
	433,866		Compagnie Generale d’Optique Essilor International S.A.		48,279
	45,281		Computer Programs & Systems, Inc		2,450
	111,181	*,e	Conceptus, Inc		2,685
	124,391		Conmed Corp		4,237
	283,515		Cooper Cos, Inc		30,586
	34,238	*	Corvel Corp		1,694
	159,986		Coventry Health Care, Inc		7,524
	1,436,243		Covidien plc		97,435
	107,404	*	Cross Country Healthcare, Inc		570
	21,908		Cruz Blanca Salud S.A.		27
	112,670		CryoLife, Inc		677
	26,930	*,e	Curexo, Inc		134
	145,475	*,e	Cyberonics, Inc		6,810
	125,331	*	Cynosure, Inc (Class A)		3,280

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	222,111	*	DaVita, Inc	$	26,340
	209,625		Dentsply International, Inc		8,892
	34,407	*,e	Derma Sciences, Inc		416
	242,270	*	DexCom, Inc		4,051
	307,500		Diagnosticos da America S.A.		1,779
	51,928	e	DiaSorin S.p.A.		1,820
	7,599	e	Draegerwerk AG.		983
	3,411		Draegerwerk AG. & Co KGaA		370
	884,007	*	Edwards Lifesciences Corp		72,630
	4,300		Eiken Chemical Co Ltd		61
	116,921		Elekta AB (B Shares)		1,774
	180,681	*	Emeritus Corp		5,021
	195,220	*,e	Endologix, Inc		3,153
	60,900	e	Ensign Group, Inc		2,034
	131,857	*,e	EnteroMedics, Inc		132
	35,375	*,e	Exactech, Inc		732
	102,248	*,e	ExamWorks Group, Inc		1,771
	55,000		Excelsior Medical Co Ltd		107
	2,940,736	*	Express Scripts Holding Co		169,533
	112,200	e	Extendicare, Inc		895
	640,800		Faber Group BHD		327
	1,406,110		Fisher & Paykel Healthcare Corp		3,084
	295,430	*	Five Star Quality Care, Inc		1,976
	98,200		Fleury S.A.		928
	89,324	*	Fortis Healthcare Ltd		165
	48,976		Fresenius Medical Care AG.		3,311
	89,951		Fresenius SE		11,114
	10,041		Galenica AG.		6,061
	118,122	*	Gentiva Health Services, Inc		1,278
	204,334	e	Getinge AB (B Shares)		6,239
	201,000		Ginko International Co Ltd		3,321
	22,928	*	Given Imaging Ltd		369
	30,700	*,e	Globus Medical, Inc		451
	443,755	e	GN Store Nord		7,902
	16,855,068	e	Golden Meditech Co Ltd		2,066
	82,769	*	Greatbatch, Inc		2,472
	60,600		Green Hospital Supply, Inc		2,144
	56,719	*,e	Greenway Medical Technologies		902
	182,297	*	Haemonetics Corp		7,595
	122,600	*	Hanger Orthopedic Group, Inc		3,866
	176,143	*,e	Hansen Medical, Inc		354
	607,800		Hartalega Holdings BHD		968
	1,347,963		HCA Holdings, Inc		54,768
	919,233	*	Health Management Associates, Inc (Class A)		11,831
	364,312	*	Health Net, Inc		10,427
	560,991	*,e	Healthsouth Corp		14,793
	78,271	*,e	HealthStream, Inc		1,796
	134,424	*	Healthways, Inc		1,647
	54,612	*,e	HeartWare International, Inc		4,829
	254,463	*,e	Henry Schein, Inc		23,551
	142,430		Hill-Rom Holdings, Inc		5,016
	576,546		Hitachi Medical Corp		9,227

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	307,867	*,e	HMS Holdings Corp	$	8,359
	36,300		Hogy Medical Co Ltd		1,962
	916,998	*	Hologic, Inc		20,724
	614,759		Humana, Inc		42,486
	43,272	*	ICU Medical, Inc		2,551
	196,810	*,e	Idexx Laboratories, Inc		18,183
	2,948,400	*	IHH Healthcare BHD		3,507
	169,503	*,e	Insulet Corp		4,383
	94,267	*	Integra LifeSciences Holdings Corp		3,677
	226,704	*	Intuitive Surgical, Inc		111,355
	136,100		Invacare Corp		1,776
	194,651	*	Inverness Medical Innovations, Inc		4,969
	25,315		Ion Beam Applications		185
	57,139	*	IPC The Hospitalist Co, Inc		2,542
	93,000	*,e	Jeol Ltd		416
	237,348	*	Kindred Healthcare, Inc		2,499
	321,100		Kossan Rubber Industries		365
	818,600		KPJ Healthcare BHD		1,568
	361,947	*	Laboratory Corp of America Holdings		32,648
	36,780		Landauer, Inc		2,074
	40,900	e	Leisureworld Senior Care Corp		516
	52,041	*	LHC Group, Inc		1,118
	2,006,221		Life Healthcare Group Holdings Pte Ltd		7,549
	110,333	*	LifePoint Hospitals, Inc		5,347
	120,445	*	Magellan Health Services, Inc		5,730
	133,236	*,e	MAKO Surgical Corp		1,486
	7,500	e	Mani, Inc		265
	234,580		Masimo Corp		4,602
	6,157	*	Mauna Kea Technologies		98
	1,750,805		McKesson Corp		189,017
	88,379	*	MD Medical Group Investments plc (ADR)		1,553
	298,424	*	MedAssets, Inc		5,745
	77,816		Medica		1,419
	62,700	e	Medical Facilities Corp		944
	352,878		Mediceo Paltac Holdings Co Ltd		4,951
	78,733	*	Medidata Solutions, Inc		4,565
	4,821,812		Medtronic, Inc		226,432
	206,916	*,e	Merge Healthcare, Inc		598
	145,977	e	Meridian Bioscience, Inc		3,331
	145,267	*,e	Merit Medical Systems, Inc		1,781
	146	e	Message Co Ltd		392
	187,500		Microlife Corp		439
	719,000		Microport Scientific Corp		474
	79,578		Miraca Holdings, Inc		3,824
	264,602	*,e	Molina Healthcare, Inc		8,168
	45,109	*	MWI Veterinary Supply, Inc		5,966
	23,136		Nagaileben Co Ltd		353
	35,751	e	National Healthcare Corp		1,635
	10,434		National Research Corp		606
	173,398	*	Natus Medical, Inc		2,330
	84,118	*	Neogen Corp		4,170
	337,858	*,e	Neoprobe Corp		916

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,115,476		Network Healthcare Holdings Ltd	$	2,406
	49,100	e	Nichii Gakkan Co		427
	43,900		Nihon Kohden Corp		1,551
	70,767		Nikkiso Co Ltd		845
	465,332	e	Nipro Corp		4,172
	166,087	e	Nobel Biocare Holding AG.		1,666
	239,571	*	NuVasive, Inc		5,105
	172,640	*	NxStage Medical, Inc		1,947
	533,600		Odontoprev S.A.		2,443
	2,989,300	*	Olympus Corp		70,933
	307,020		Omnicare, Inc		12,502
	141,126	*	Omnicell, Inc		2,664
	185,901	*	OraSure Technologies, Inc		1,004
	221,683	*	Oriola-KD Oyj (B Shares)		699
	71,445		Orpea		2,975
	139,673	*,e	Orthofix International NV		5,010
	9,784	*	Osstem Implant Co Ltd		294
	218,770	e	Owens & Minor, Inc		7,123
	57,490		Pacific Hospital Supply Co Ltd		177
	80,349	*,e	Palomar Medical Technologies, Inc		1,084
	46,413		Paramount Bed Holdings Co Ltd		1,734
	130,076		Patterson Cos, Inc		4,948
	36,553	*	PDI, Inc		216
	115,332	*	Pediatrix Medical Group, Inc		10,337
	42,489		Pharmaniaga BHD		115
	101,065	*	PharMerica Corp		1,415
	10,274		Phonak Holding AG.		1,234
	104,870	*,e	PhotoMedex, Inc		1,687
	302,000	*	Pihsiang Machinery Manufacturing Co Ltd		344
	1,926,237		Primary Health Care Ltd		9,976
	4,400		Profarma Distribuidora de Produtos Farmaceuticos S.A.		48
	92,698	*	Providence Service Corp		1,714
	6,200	e	Psc, Inc		234
	84,300	*	Qualicorp S.A.		847
	143,568		Quality Systems, Inc		2,624
	386,850		Quest Diagnostics, Inc		21,838
	96,698	*,e	Quidel Corp		2,297
	299,317	e	Raffles Medical Group Ltd		794
	201,657	e	Ramsay Health Care Ltd		6,787
	401,237	e	Resmed, Inc		18,601
	126,255		Rhoen Klinikum AG.		2,679
	38,793	*	Rochester Medical Corp		567
	85,922	*,e	Rockwell Medical Technologies, Inc		340
	347,450	*,e	RTI Biologics, Inc		1,369
	432,532		Ryman Healthcare Ltd		1,825
	12,131		Sartorius AG.		1,298
	5,600		Sartorius Stedim Biotech		747
	461,111		Selcuk Ecza Deposu Ticaret ve Sanayi AS		564
	179,682	e	Select Medical Holdings Corp		1,617
	2,461,200	e	Shandong Weigao Group Medical Polymer Co Ltd		2,230
	977,400		Shanghai Pharmaceuticals Holding Co Ltd		2,151
	193,581		Shenzhen Accord Pharmaceutical Co Ltd		873

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,949,181		Sigma Pharmaceuticals Ltd	$	1,507
	1,204,300	e	Sinopharm Group Co		3,892
	122,578	*	Sirona Dental Systems, Inc		9,038
	241,619	*,e	Skilled Healthcare Group, Inc (Class A)		1,587
	664,725		Smith & Nephew plc		7,688
	232,614	*,e	Solta Medical, Inc		512
	674	e	So-net M3, Inc		1,316
	384,426		Sonic Healthcare Ltd		5,594
	342,858	*	Sorin S.p.A.		883
	124,794	*	Spectranetics Corp		2,312
	796,919	e	St. Jude Medical, Inc		32,227
	97,000		St. Shine Optical Co Ltd		1,897
	170,515	*,e	Staar Surgical Co		960
	206,238		STERIS Corp		8,582
	8,659		Stratec Biomedical Systems AG.		388
	11,152	e	Straumann Holding AG.		1,504
	866,936		Stryker Corp		56,559
	6,610	e	Suheung Capsule Co Ltd		137
	1,083,600		Supermax Corp BHD		666
	104,362	*	SurModics, Inc		2,844
	97,554		Suzuken Co Ltd		3,541
	159,618	*	Symmetry Medical, Inc		1,828
	82,423		Synergy Healthcare plc		1,275
	29,263		Sysmex Corp		1,783
	153,560	*	Team Health Holdings, Inc		5,587
	50,634		Teleflex, Inc		4,279
	123,700		Tempo Participacoes S.A.		214
	714,871	*	Tenet Healthcare Corp		34,014
	165,916		Terumo Corp		7,141
	143,446	*	Thoratec Corp		5,379
	68,471		Toho Pharmaceutical Co Ltd		1,576
	20,300		Tokai Corp (GIFU)		624
	1,082,400		Top Glove Corp BHD		1,888
	67,046	*	Tornier BV		1,264
	63,609	*,e	Triple-S Management Corp (Class B)		1,108
	35,000		Tsuki Corp		499
	273,748	*,e	Unilife Corp		597
	585,672		United Drug plc		2,414
	4,649,470	e	UnitedHealth Group, Inc		265,996
	130,871	e	Universal American Corp		1,090
	557,109		Universal Health Services, Inc (Class B)		35,583
	62,607		US Physical Therapy, Inc		1,681
	11,996		Utah Medical Products, Inc		585
	178,910	*	Vanguard Health Systems, Inc		2,660
	392,859	*	Varian Medical Systems, Inc		28,286
	73,819	*,e	Vascular Solutions, Inc		1,197
	199,369	*	VCA Antech, Inc		4,683
	72,500		VITAL KSK Holdings, Inc		701
	48,293	*,e	Vocera Communications, Inc		1,111
	186,073	*,e	Volcano Corp		4,142
	201,610	*	WellCare Health Plans, Inc		11,685
	1,133,586		WellPoint, Inc		75,077

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	141,880		West Pharmaceutical Services, Inc	$	9,214
	6,024	*	William Demant Holding		505
	163,004	*,e	Wright Medical Group, Inc		3,881
	58,703	*,e	Zeltiq Aesthetics, Inc		224
	1,075,613		Zimmer Holdings, Inc		80,908
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		3,921,339
HOUSEHOLD & PERSONAL PRODUCTS - 1.6%
	11,286	e	Able C&C Co Ltd		884
	23,300	*	Aderans Co Ltd		396
	3,873	e	Amorepacific Corp		3,260
	32,244	*	Atrium Innovations Inc		383
	1,498,821		Avon Products, Inc		31,071
	2,004,000	*,e	BaWang International Group Holding Ltd		114
	1,239,071		Beiersdorf AG.		114,520
	137,347	*,e	Central Garden and Pet Co (Class A)		1,129
	1,042,893		Church & Dwight Co, Inc		67,402
	257,915		Clorox Co		22,833
	1,302,320		Colgate-Palmolive Co		153,713
	12,590	e	Cosmax, Inc		546
	349,443		Dabur India Ltd		881
	138	e	Dr Ci:Labo Co Ltd		422
	90,301	*,e	Elizabeth Arden, Inc		3,635
	5,491		Emami Ltd		61
	230,050		Energizer Holdings, Inc		22,943
	532,132		Estee Lauder Cos (Class A)		34,072
	103,900	e	Fancl Corp		1,145
	74,512	e	Female Health Co		539
	3,209	*,e	Genic Co Ltd		106
	6,186		Godrej Consumer Products Ltd		89
	420,000		Grape King Industrial Co		1,320
	153,669	*	Harbinger Group, Inc		1,269
	917,200		Hengan International Group Co Ltd		8,998
	18,790		Henkel KGaA		1,485
	783,691		Henkel KGaA (Preference)		75,502
	885,190	e	Herbalife Ltd		33,150
	1,381,933		Hindustan Lever Ltd		11,871
	599,625		Hypermarcas S.A.		4,715
	7,867		Inter Parfums S.A.		251
	94,993		Inter Parfums, Inc		2,321
	18,347	e	JW Shinyak Corp		88
	283,430		Jyothy Laboratories Ltd		867
	548,604		Kao Corp		17,743
	832,178		Kimberly-Clark Corp		81,537
	2,633,137		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		9,190
	30,600		Kobayashi Pharmaceutical Co Ltd		1,487
	15,044	*	Korea Kolmar Co Ltd		448
	85,800	e	Kose Corp		1,997
	15,225	e	LG Household & Health Care Ltd		8,369
	290,000		Lion Corp		1,617
	625,087		L’Oreal S.A.		99,172
	465,600		Magic Holdings international Ltd		191

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	61,479		Mandom Corp	$	2,186
	311,152		Mcbride plc		561
	128,398	*	Medifast, Inc		2,943
	446,347		Microbio Co Ltd		521
	22,000		Milbon Co Ltd		775
	235,838		Natura Cosmeticos S.A.		5,763
	41,364	e	Nature’s Sunshine Products, Inc		630
	556,320	e	Nu Skin Enterprises, Inc (Class A)		24,589
	48,629		Nutraceutical International Corp		844
	2,584,000	e	NVC Lighting Holdings Ltd		598
	21,478		Oil-Dri Corp of America		585
	35,389		Orchids Paper Products Co		826
	89,891	e	Oriflame Cosmetics S.A.		3,069
	3,350	e	Pacific Corp		1,221
	26,200		Pigeon Corp		1,837
	26,900		Pola Orbis Holdings, Inc		859
	209,786	*	Prestige Brands Holdings, Inc		5,389
	1,512,000	e	Prince Frog International Holdings Ltd		781
	9,853,392		Procter & Gamble Co		759,303
	3,131,500		PT Unilever Indonesia Tbk		7,360
	428,781		PZ Cussons plc		2,634
	1,029,954		Reckitt Benckiser Group plc		73,948
	39,245	*	Revlon, Inc (Class A)		878
	2,600,000	e	Ruinian International Ltd		643
	56,911	e	Shiseido Co Ltd		798
	95,736		Spectrum Brands, Inc		5,418
	17,200		ST Corp		186
	512,158	*,e	Star Scientific, Inc		850
	624,910	e	Svenska Cellulosa AB (B Shares)		16,134
	127,305	e	Uni-Charm Corp		7,269
	20,730	*,e	USANA Health Sciences, Inc		1,002
	1,303,000	e	Vinda International Holdings Ltd		1,866
	73,586		WD-40 Co		4,030
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,760,028
INSURANCE - 3.9%
	4,106,703		ACE Ltd		365,373
	108,975		Admiral Group plc		2,211
	340,657		Aegon NV		2,057
	1,388,711		Aflac, Inc		72,241
	288,212		Ageas		9,782
	16,702,007		AIA Group Ltd		73,434
	13,511		Aksigorta AS		18
	20,666	*	Alleghany Corp		8,182
	1,069,339		Allianz AG.		145,775
	314,098		Allied World Assurance Co Holdings Ltd		29,123
	1,701,634		Allstate Corp		83,499
	218,140	*	Alm Brand AS		760
	332,727	e	American Equity Investment Life Holding Co		4,954
	453,602		American Financial Group, Inc		21,492
	921,594	*	American International Group, Inc		35,776
	12,360		American National Insurance Co		1,074

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,323	*	American Safety Insurance Holdings Ltd	$	1,031
	79,396		Amerisafe, Inc		2,822
	674,399		Amlin plc		4,344
	3,422,532		AMP Ltd		18,646
	98,389	e	Amtrust Financial Services, Inc		3,409
	810,047		Anadolu Hayat Emeklilik AS		2,690
	450,254	*	Anadolu Sigorta		311
	669,844		Aon plc		41,195
	19,455		April Group		306
	648,007	*	Arch Capital Group Ltd		34,066
	107,981		Argo Group International Holdings Ltd		4,468
	166,116		Arthur J. Gallagher & Co		6,862
	510,878		Aspen Insurance Holdings Ltd		19,710
	139,851		Assicurazioni Generali S.p.A.		2,190
	1,085,384		Assurant, Inc		48,853
	205,304		Assured Guaranty Ltd		4,231
	1,173,843		Aviva plc		5,321
	1,085,779		AXA S.A.		18,764
	2,054,613		Axis Capital Holdings Ltd		85,513
	4,146		Bajaj Finserv Ltd		59
	38,163	e	Baldwin & Lyons, Inc (Class B)		908
	4,562		Baloise Holding AG.		429
	829,800		Bangkok Life Assurance PCL (ADR)		2,093
	1,189,696		Beazley plc		3,782
	48	*	Berkshire Hathaway, Inc		7,501
	6,411,994	*	Berkshire Hathaway, Inc (Class B)		668,130
	194,700		Brazil Insurance Participco		2,158
	146,060		Brown & Brown, Inc		4,680
	13,609,366		Cathay Financial Holding Co Ltd		18,775
	602,710		Catlin Group Ltd		4,783
	262,227		Chesnara plc		940
	1,130,508	*	China Insurance International Holdings Co Ltd		1,932
	10,175,024	e	China Life Insurance Co Ltd		26,547
	2,788,885		China Life Insurance Co Ltd (Taiwan)		2,787
	3,700,700		China Pacific Insurance Group Co Ltd		12,223
	575,593		Chubb Corp		50,382
	436,272		Cincinnati Financial Corp		20,588
	147,236	*,e	Citizens, Inc (Class A)		1,235
	52,248		Clal Insurance		867
	4,100,000		ClearView Wealth Ltd		2,796
	50,953		CNA Financial Corp		1,666
	250,558		CNP Assurances		3,443
	915,862		Conseco, Inc		10,487
	652,089		Corp Mapfre S.A.		2,026
	113,300	e	Crawford & Co (Class B)		860
	46,409		Dai-ichi Mutual Life Insurance Co		62,277
	115,348		Delta Lloyd NV		1,987
	390,470		Discovery Holdings Ltd		3,326
	31,518	e	Donegal Group, Inc (Class A)		481
	54,574		Dongbu Insurance Co Ltd		2,333
	24,431	e	Eastern Insurance Holdings, Inc		458
	75,919	*	eHealth, Inc		1,357

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,275	e	EMC Insurance Group, Inc	$	666
	114,969		Employers Holdings, Inc		2,696
	353,564		Endurance Specialty Holdings Ltd		16,904
	33,613	*	Enstar Group Ltd		4,178
	45,449		Erie Indemnity Co (Class A)		3,433
	22,685		Euler Hermes S.A.		2,092
	242,177		Everest Re Group Ltd		31,449
	50,139		FBD Holdings plc		787
	36,674		FBL Financial Group, Inc (Class A)		1,425
	1,156,913		Fidelity National Title Group, Inc (Class A)		29,189
	535,373		First American Financial Corp		13,690
	548,144	*,e	Fondiaria-Sai S.p.A		909
	587	*	Fondiaria-Sai S.p.A-RSP		75
	12,841	*,e	Fortegra Financial Corp		113
	1,598,729	*	Genworth Financial, Inc (Class A)		15,987
	123,202		Gjensidige Forsikring BA		2,039
	465,164	e	Great-West Lifeco, Inc		12,469
	97,958	*,e	Greenlight Capital Re Ltd (Class A)		2,395
	102,771		Grupo Catalana Occidente S.A.		2,233
	58,266	*,e	Hallmark Financial Services		524
	100,005		Hannover Rueckversicherung AG.		7,873
	60,078		Hanover Insurance Group, Inc		2,985
	38,500	*	Hanwha Non-Life Insurance Co Ltd		199
	11,401		Harel Insurance Investments & Finances Ltd		591
	2,762,637	e	Hartford Financial Services Group, Inc		71,276
	484,012		HCC Insurance Holdings, Inc		20,343
	14,610		Helvetia Holding AG.		5,897
	138,971	*	Hilltop Holdings, Inc		1,875
	806,868		Hiscox Ltd		6,760
	35,814	e	Homeowners Choice, Inc		976
	228,783		Horace Mann Educators Corp		4,770
	180,660		Hyundai Marine & Fire Insurance Co Ltd		5,190
	32,267	e	Independence Holding Co		328
	147,512		Industrial Alliance Insurance and Financial Services, Inc		5,425
	43,329		Infinity Property & Casualty Corp		2,435
	105,154		ING Canada, Inc		6,444
	4,042,380		Insurance Australia Group Ltd		24,115
	2,934		Investors Title Co		203
	268,111		Jardine Lloyd Thompson Group plc		3,471
	17,109	e	Kansas City Life Insurance Co		669
	59,822		Kemper Corp		1,951
	423,510		Korea Life Insurance Co Ltd		2,581
	114,595		Korean Reinsurance Co		1,181
	213,630		Lancashire Holdings Ltd		2,640
	20,816,994		Legal & General Group plc		54,781
	350,622		Liberty Holdings Ltd		4,578
	5,700	*	Lifenet Insurance Co		51
	124,030		LIG Insurance Co Ltd		2,649
	1,032,496		Lincoln National Corp		33,670
	383,737		Loews Corp		16,911
	44,101	*	Lotte Non-Life Insurance Co Ltd		145
	212,230		Maiden Holdings Ltd		2,248

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,008,702	e	Manulife Financial Corp	$	29,581
	11,808	*,e	Markel Corp		5,945
	3,326,985		Marsh & McLennan Cos, Inc		126,326
	1,620,569		Max Capital Group Ltd		51,048
	183,454	*,e	MBIA, Inc		1,884
	263,937	e	Meadowbrook Insurance Group, Inc		1,861
	795,048		Mediolanum S.p.A.		4,399
	29,995	*	Menorah Mivtachim Holdings Ltd		323
	33,401		Mercury General Corp		1,267
	160,075		Meritz Fire & Marine Insurance Co Ltd		1,755
	6,839,414		Metlife, Inc		260,035
	1,347,649		Metropolitan Holdings Ltd		3,402
	352,760		Migdal Insurance Holdings Ltd		576
	990,563	*	Milano Assicurazioni S.p.A.		527
	871,888		Millea Holdings, Inc		25,224
	466,936	e	Mitsui Sumitomo Insurance Group Holdings, Inc		10,400
	286,875		Montpelier Re Holdings Ltd		7,473
	416,692		Muenchener Rueckver AG.		78,099
	152,273	*,e	National Financial Partners Corp		3,415
	25,066		National Interstate Corp		751
	12,080		National Western Life Insurance Co (Class A)		2,126
	40,474	*	Navigators Group, Inc		2,378
	545,800	e	New China Life insurance Co Ltd		1,866
	387,749	e	NKSJ Holdings, Inc		8,168
	581,465		Old Mutual plc		1,797
	470,917		Old Republic International Corp		5,985
	135,973		OneBeacon Insurance Group Ltd (Class A)		1,838
	1,001,243		PartnerRe Ltd		93,226
	3,000,000	*,e	People’s Insurance Co Group of China Ltd		1,599
	20,549	*,e	Phoenix Cos, Inc		632
	210,164		Phoenix Group Holdings		2,143
	79,180		Phoenix Holdings Ltd		243
	7,460,100		PICC Property & Casualty Co Ltd		9,616
	3,236,400		Ping An Insurance Group Co of China Ltd		25,175
	162,107		Platinum Underwriters Holdings Ltd		9,047
	260,931		Porto Seguro S.A.		3,650
	643,630	e	Power Corp Of Canada		17,297
	694,101	e	Power Financial Corp		20,457
	141,805		Powszechny Zaklad Ubezpieczen S.A.		17,598
	156,315		Primerica, Inc		5,124
	1,026,860		Principal Financial Group		34,944
	190,533		ProAssurance Corp		9,018
	750,331		Progressive Corp		18,961
	492,345		Protective Life Corp		17,626
	3,584,482		Prudential Financial, Inc		211,449
	6,268,423		Prudential plc		101,809
	13,000,000		PT Panin Insurance Tbk		991
	90,425,000	*	PT Panin Life Tbk		2,285
	2,007,756		QBE Insurance Group Ltd		28,385
	213,511		Reinsurance Group of America, Inc (Class A)		12,740
	309,530		RenaissanceRe Holdings Ltd		28,474
	1,509,816		Resolution Ltd		6,272

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	76,525		RLI Corp	$	5,498
	846,287		RMI Holdings		2,145
	1,864,304		Royal & Sun Alliance Insurance Group plc		3,306
	50,662		Safety Insurance Group, Inc		2,490
	314,292	e	Sampo Oyj (A Shares)		12,122
	52,847		Samsung Fire & Marine Insurance Co Ltd		10,359
	104,135		Samsung Life Insurance Co Ltd		9,751
	3,402,495		Sanlam Ltd		17,465
	28,504		Santam Ltd		593
	31,467		Schweizerische National-Versicherungs-Gesellschaft		1,522
	134,356		SCOR		3,865
	212,782		Selective Insurance Group, Inc		5,109
	6,770,495	*	Shin Kong Financial Holding Co Ltd		2,130
	265,000		Shinkong Insurance Co Ltd		185
	61,416		Societa Cattolica di Assicurazioni SCRL		1,065
	490,038		Sony Financial Holdings, Inc		7,329
	306,599		St. James’s Place plc		2,371
	56,236		Stancorp Financial Group, Inc		2,405
	3,828,621		Standard Life plc		21,346
	65,425		State Auto Financial Corp		1,140
	89,412	e	Stewart Information Services Corp		2,277
	407,354	*	Storebrand ASA		1,604
	141,550		Sul America SA		1,414
	995,532	e	Sun Life Financial, Inc		27,166
	1,783,084		Suncorp-Metway Ltd		22,006
	21,686		Swiss Life Holding		3,224
	1,525,537		Swiss Re Ltd		124,243
	275,353	e	Symetra Financial Corp		3,692
	1,845,600	e	T&D Holdings, Inc		22,105
	444,000		Taiwan Fire & Marine Insurance Co		328
	924,000	*	Taiwan Life Insurance Co Ltd		718
	65,640		Tong Yang Life Insurance		636
	152,560	*	Topdanmark A.S.		3,659
	470,890	e	Torchmark Corp		28,159
	141,695	e	Tower Group International Ltd		2,614
	880,308		Travelers Cos, Inc		74,113
	17,778		TrygVesta AS		1,438
	248,856	*	Unipol Gruppo Finanziario S.p.A		672
	333,404	*	Unipol Gruppo Finanziario S.p.A (Priv)		824
	46,625	*,e	United America Indemnity Ltd		1,082
	92,365	e	United Fire & Casualty Co		2,353
	84,098	e	Universal Insurance Holdings, Inc		408
	444,353		UnumProvident Corp		12,553
	1,161,656		Validus Holdings Ltd		43,411
	50,607		Vittoria Assicurazioni S.p.A.		409
	475,220	e	W.R. Berkley Corp		21,086
	7,244		White Mountains Insurance Group Ltd		4,108
	27,918		Wiener Staedtische Allgemeine Versicherung AG.		1,355
	1,634,292		XL Capital Ltd		49,519
	48,547		Yapi Kredi Sigorta AS		476
	146,807		Zurich Financial Services AG.		40,981
			TOTAL INSURANCE		4,451,282

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
MATERIALS - 6.0%
	160,755		A. Schulman, Inc	$	5,073
	119,620	e	Acerinox S.A.		1,229
	501,707		ACHEM Technology Corp		245
	418,000		Achilles Corp		633
	32,017	*,e	ADA-ES, Inc		851
	105,581		Adana Cimento		238
	108,200		ADEKA Corp		935
	1,133,124		Adelaide Brighton Ltd		4,192
	29,781	*,e	Advanced Metallurgical Group NV		250
	47,153	*	Advansa Sasa Polyester Sanayi AS		31
	149,556		Aeci Ltd		1,660
	16,011	*	AEP Industries, Inc		1,150
	145,516		African Barrick Gold Ltd		428
	309,863	*,e	African Minerals Ltd		1,093
	163,870		African Oxygen Ltd		407
	228,288		African Rainbow Minerals Ltd		4,700
	89		Afyon Cimento Sanayi TAS		3
	185,888		Agnico-Eagle Mines Ltd		7,625
	468,894	e	Agrium, Inc (Toronto)		45,724
	187,000	e	Aichi Steel Corp		757
	262,447		Air Liquide		31,921
	343,254		Air Products & Chemicals, Inc		29,904
	241,311		Air Water, Inc		3,365
	201,073		Airgas, Inc		19,938
	6,564	e	AK Holdings, Inc		129
	631,714	e	AK Steel Holding Corp		2,091
	112,938		Akcansa Cimento AS		687
	1,432,723		Akzo Nobel NV		91,030
	332,470		Alamos Gold, Inc		4,566
	194,012	e	Albemarle Corp		12,130
	23,678	*	Alchemia S.A.		29
	1,311,005		Alcoa, Inc		11,170
	362,605	*	Alent plc		2,080
	75,500	*,e	Alexco Resource Corp		249
	252,675	*	Alkane Resources Ltd		153
	133,967		Allegheny Technologies, Inc		4,248
	126,774	*	Allied Nevada Gold Corp		2,087
	271,900	e	Alpek SAB de C.V.		650
	386,657		Altri SGPS S.A.		951
	412,460		Alumina Ltd		479
	5,573,900	*,e	Aluminum Corp of China Ltd		2,160
	32,119	f	AMAG Austria Metall AG. (purchased 02/29/2012, cost $725)		988
	1,159,447		Ambuja Cements Ltd		3,725
	89,302		AMCOL International Corp		2,696
	1,316,702		Amcor Ltd		12,757
	143,882		American Vanguard Corp		4,394
	4,707,000		AMVIG Holdings Ltd		1,765
	304,154	*	Anadolu Cam Sanayii AS		480
	601,700	*,e	Anatolia Minerals Development Ltd		2,428

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,198,520	*,e	Angang New Steel Co Ltd	$	1,210
	646,785		Anglo American plc (London)		16,702
	73,511	e	Anglo Platinum Ltd		3,055
	515,673		AngloGold Ashanti Ltd		12,134
	3,827,911	e	Anhui Conch Cement Co Ltd		12,763
	158,000		ANN JOO Resources BHD		63
	2,693,943		Antofagasta plc		40,439
	222,891	e	APERAM		2,742
	85,885		Aptargroup, Inc		4,926
	621,585	*,e	Aquarius Platinum Ltd		471
	67,402	*,e	Arabian American Development Co		568
	1,117,256		ArcelorMittal		14,515
	389,087	*	Argonaut Gold, Inc		3,156
	31,118		Arkema		2,836
	72,923	e	Asahi Holdings, Inc		1,571
	2,300,852	e	Asahi Kasei Corp		15,550
	94,000		Asahi Organic Chemicals Industry Co Ltd		210
	108,900	*	Asanko Gold, Inc		348
	1,998,142		Ashland, Inc		148,462
	1,840,500		Asia Cement China Holdings Corp		927
	6,478	e	Asia Cement Co Ltd		445
	2,559,923		Asia Cement Corp		3,106
	52,315		Asia Plastic Recycling Holding Ltd		140
	244,500		Asia Polymer		195
	49,047		Asian Paints Ltd		4,444
	88,370		Associated Cement Co Ltd		1,889
	95,624	e	Assore Ltd		3,229
	677,200		Atlas Consolidated Mining & Development		373
	1,078,314		Atlas Iron Ltd		1,258
	187,200	*	Augusta Resource Corp		481
	33,324	*	Auriga Industries (Class B)		738
	422,511	*	Aurizon Mines Ltd		1,851
	257,900	*,e	Avalon Rare Metals, Inc		279
	231,192		Avocet Mining plc		67
	1,459,706	e	Axiall Corp		90,735
	682,982		AZ Electronic Materials S.A.		3,952
	745,635	*	B2Gold Corp		2,268
	1,317		Bagfas Bandirma Gubre Fabrik		41
	135,700		Balchem Corp		5,963
	848,260		Ball Corp		40,360
	264,598		Ballarpur Industries Ltd		84
	243,100	*,e	Banro Corp		416
	1,637,735		Barrick Gold Corp (Canada)		48,108
	1,275,263		BASF AG.		111,971
	2,138		BASF India Ltd		23
	759,728	*,e	Bathurst Resources Ltd		247
	62,885		Baticim Bati Anadolu Cimento Sanayii AS		273
	5,096		Bayer CropScience Ltd		113
	2,450,100		BBMG Corp		2,007
	192,219		BC Iron Ltd		652
	751,278	*	Beadell Resources Ltd		714
	46,452	e	Bekaert S.A.		1,288

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	303,000	*,e	Belo Sun Mining Corp	$	340
	126,865	e	Bemis Co, Inc		5,120
	49,361		Berger Paints India Ltd		178
	182,266	*	Berry Plastics Group, Inc		3,472
	4,398,879		BHP Billiton Ltd		150,376
	4,972,293		BHP Billiton plc		144,802
	366,364		Billerud AB		3,529
	999,206	*	BlueScope Steel Ltd		5,246
	1,630	*	BNG Steel Co Ltd		16
	60,829	*	Boise Cascade Co		2,065
	407,304		Boise, Inc		3,527
	500,437		Boliden AB		8,084
	1,233,843		Boral Ltd		6,333
	5,340,000	*	Borneo Lumbung Energi & Metal		259
	10,943		Borusan Mannesmann Boru Sanayi		213
	8,560,759	*	Boryszew S.A.		1,158
	503,993		Bradespar S.A.		6,567
	193,428		Braskem S.A.		1,307
	71,360		Brush Engineered Materials, Inc		2,034
	188,615		Buckeye Technologies, Inc		5,649
	136,550		Bursa Cimento		389
	78,181		Buzzi Unicem S.p.A.		1,206
	43,499		Buzzi Unicem S.p.A. RSP		316
	7,600		C Uyemura & Co Ltd		283
	78,295		Cabot Corp		2,678
	485,394	*	Calgon Carbon Corp		8,786
	327,328	e	Canexus Corp		2,871
	117,168	*	Canfor Corp		2,452
	47,600	e	Canfor Pulp Products, Inc		514
	201,010		CAP S.A.		6,517
	549,962	*	Cape Lambert Resources Ltd		106
	29,150		Capro Corp		300
	372,811	*	Capstone Mining Corp		829
	54,827	e	Carpenter Technology Corp		2,702
	149,552		Cascades, Inc		662
	57,902	*,e	Castle (A.M.) & Co		1,013
	421,278		Celanese Corp (Series A)		18,557
	81,180		Cementir S.p.A.		230
	720,647		Cementos Argos S.A.		3,434
	38,043	e	Cementos Pacasmayo SAA (ADR)		565
	338,537	*	Cemex Latam Holdings S.A.		2,544
	22,704,676	*,e	Cemex S.A. de C.V.		27,628
	1,353,317	*	Centamin plc		1,021
	281,748		Centerra Gold, Inc		1,678
	190,886	*	Century Aluminum Co		1,477
	103,882		Century Textile & Industries Ltd		550
	462,146		CF Industries Holdings, Inc		87,979
	401,166		Chambal Fertilizers & Chemicals Ltd		368
	25,569	e	Chase Corp		494
	57,299		Cheil Industries, Inc		4,564
	377,726	*	Chemtura		8,163
	1,916,560		Cheng Loong Corp		841

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	832,925		Chia Hsin Cement Corp	$	364
	710,000		Chiho-Tiande Group Ltd		343
	2,560,200	e	China BlueChemical Ltd		1,592
	59,000	*	China General Plastics Corp		30
	257,000		China Hi-ment Corp		486
	670,000	*	China Manmade Fibers Corp		261
	368,409		China Metal Products		482
	3,613,200	e,m	China Metal Recycling Holdings Ltd		2,199
	4,994,000	*	China Mining Resources Group Ltd		56
	12,956,378	e	China National Building Material Co Ltd		16,383
	646,000		China Nickel Resources Holding Co Ltd		41
	2,141,175		China Petrochemical Development Corp		1,171
	1,488,000	*,e	China Precious Metal Resources Holdings Co Ltd		270
	1,422,000	e	China Rare Earth Holdings Ltd		254
	2,626,100	e	China Resources Cement Holdings Ltd		1,493
	1,450,000		China Sanjiang Fine Chemicals		730
	3,370,400		China Shanshui Cement Group Ltd		1,945
	193,000		China Steel Chemical Corp		944
	13,943,083		China Steel Corp		12,123
	1,459,000		China Synthetic Rubber Corp		1,571
	663,000		China Vanadium Titano-Magnetite Mining Co Ltd		153
	496,000	*	Chongqing Iron & Steel Co Ltd		78
	811,936		Christian Hansen Holding		30,155
	111,000		Chuetsu Pulp & Paper Co Ltd		175
	167,000		Chugoku Marine Paints Ltd		892
	1,398,328		Chun Yuan Steel		525
	1,344,720	*	Chung Hung Steel Corp		386
	169,950	*	Chung Hwa Pulp Corp		57
	254,100		Cia de Minas Buenaventura S.A. (ADR) (Series B)		6,596
	214,200		Cia Minera Autlan SAB de C.V.		189
	821,436		Cia Siderurgica Nacional S.A.		3,711
	112,930	*	Ciech S.A.		788
	13,667		Ciments Francais S.A.		780
	97,669		Cimsa Cimento Sanayi Ve Tica		602
	1,208,000		Citic Dameng Holdings		115
	2,551,349		Clariant AG.		35,572
	1,434		Clariant Chemicals India Ltd		13
	109,161	*,e	Clearwater Paper Corp		5,752
	3,236,821	e	Cleveland-Cliffs, Inc		61,532
	5,490	*	CNK International Co Ltd		29
	455,809	*,e	Coeur d’Alene Mines Corp		8,597
	140,800	*	Colossus Minerals, Inc		426
	205,826		Commercial Metals Co		3,262
	86,132	*	Companhia Vale do Rio Doce		0	^
	79,500	e	Companhia Vale do Rio Doce (ADR)		1,375
	132,747	e	Compass Minerals International, Inc		10,474
	129,100	*	Copper Mountain Mining Corp		346
	355,122		Corp Aceros Arequipa S.A.		107
	7,010	*	Cosmochemical Co Ltd		46
	3,051,000	e	CPMC Holdings Ltd		2,436
	4,767,432		CRH plc		105,272
	520,610		Croda International plc		21,746

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	123,700	*	Cronus Resources Ltd	$	794
	467,689	*	Crown Holdings, Inc		19,461
	374,600		CSC Steel Holdings BHD		147
	52,144,000	*	CST Mining Group Ltd		781
	140,972	*,e	Cudeco Ltd		503
	882,734		Cytec Industries, Inc		65,393
	144,000		Dai Nippon Toryo Co Ltd		290
	1,056,309		Daicel Chemical Industries Ltd		8,268
	56,626	e	Daido Steel Co Ltd		302
	91,000		Daiken Corp		253
	176,857		Dainichiseika Color & Chemicals Manufacturing Co Ltd		840
	2,085,845		Dainippon Ink and Chemicals, Inc		4,481
	96,872		Daio Paper Corp		626
	168,000		Daiso Co Ltd		523
	19,867	e	DC Chemical Co Ltd		2,870
	16,565		Deepak Fertilizers & Petrochemicals Corp Ltd		31
	38,014		Deltic Timber Corp		2,612
	911,405		Denki Kagaku Kogyo KK		3,295
	896,197	*	Detour Gold Corp		17,230
	498,515	*,e	Discovery Metals Ltd		328
	92,024	*	Dominion Diamond Corp		1,504
	149,346		Domtar Corp		11,592
	23,360	*,e	Dongbu Steel Co Ltd		72
	67,414	e	Dongjin Semichem Co Ltd		295
	67,948	e	Dongkuk Industries Co Ltd		221
	41,550	e	Dongkuk Steel Mill Co Ltd		459
	3,773,000	e	Dongyue Group		2,196
	4,353,743		Dow Chemical Co		138,623
	585,000	e	Dowa Holdings Co Ltd		4,595
	1,036,072		DRDGOLD Ltd		808
	1,278,142		DS Smith plc		4,262
	738,536		DSM NV		43,037
	1,456,896		Du Pont (E.I.) de Nemours & Co		71,621
	1,046,375		DuluxGroup Ltd		4,862
	263,900	*,e	Dundee Precious Metals, Inc		2,052
	253,084		Eagle Materials, Inc		16,863
	15,600		Earth Chemical Co Ltd		541
	2,231,485	*	Eastern Platinum Ltd		319
	673,093		Eastman Chemical Co		47,029
	744,989		Ecolab, Inc		59,733
	4,810	e	EG Corp		157
	15,074		EID Parry India Ltd		41
	447,802		El Ezz Steel Co		604
	934,399		Eldorado Gold Corp		8,931
	2,037,472		Elementis plc		8,090
	1,833,290		Empresas CMPC S.A.		6,696
	14,043	*	EMS-Chemie Holding AG.		4,229
	292,538	*,e	Endeavour Mining Corp		432
	153,139	*	Endeavour Mining Corp (ADR)		231
	121,300	*	Endeavour Silver Corp		756
	1,091,377		Eregli Demir ve Celik Fabrikalari TAS		1,418
	875,894		Eternal Chemical Co Ltd		726

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	171,200		Eternit S.A.	$	755
	95,300		Eucatex S.A. Industria e Comercio		429
	33,492		Eugene Corp		110
	1,226,589		Eurasian Natural Resources Corp		4,608
	570,570		Everlight Chemical Industrial Corp		394
	547,694	*	Evolution Mining Ltd		839
	529,958	*,m	Evonik Industries AG.		20,604
	1,554,175		Evraz plc		5,265
	676,750		Feng Hsin Iron & Steel Co		1,182
	101,400		Ferbasa-Ferro Ligas DA Bahia		587
	629,714		Ferrexpo plc		1,664
	406,107	*	Ferro Corp		2,741
	44,100	*	Fertilizantes Heringer S.A.		262
	609,159	*	Fibria Celulose S.A.		7,355
	2,715,598		Filtrona plc		30,110
	272,600	*	First Majestic Silver Corp		4,414
	1,561,770		First Quantum Minerals Ltd		29,703
	1,818,329	e	Fletcher Building Ltd		13,071
	188,031	*,e	Flotek Industries, Inc		3,074
	508,012		FMC Corp		28,972
	9,742,971	*	Focus Minerals Ltd		223
	28,690	*,e	Foosung Co Ltd		124
	4,202,003		Formosa Chemicals & Fibre Corp		9,435
	5,377,031		Formosa Plastics Corp		12,734
	405,000		Formosan Rubber Group, Inc		303
	1,227,732		Formosan Union Chemical		625
	9,653,673	e	Fortescue Metals Group Ltd		39,967
	13,900	*,e	Fortress Paper Ltd		114
	164,400	*	Fortuna Silver Mines, Inc		709
	4,688,100	e	Fosun International		3,196
	14,300		FP Corp		957
	212,373	*,e	Franco-Nevada Corp		9,694
	3,385,572		Freeport-McMoRan Copper & Gold, Inc (Class B)		112,062
	1,227,466		Fresnillo plc		25,388
	49,245		Frutarom Industries Ltd		664
	26,155		Fuchs Petrolub AG.		2,014
	46,672		Fuchs Petrolub AG. (Preference)		3,931
	1,351,000	e	Fufeng Group Ltd		483
	22,452		Fuji Seal International, Inc		570
	18,700		Fujimi, Inc		277
	36,200		Fujimori Kogyo Co Ltd		895
	116,000	e	Furukawa-Sky Aluminum Corp		355
	14,731,100	e	Fushan International Energy Group Ltd		6,590
	153,629		FutureFuel Corp		1,867
	10,974,800	*	G J Steel PCL		45
	5,146,900	*	G Steel PCL		67
	443,299	*,e	Gabriel Resources Ltd		1,056
	311,242	*	Gammon Gold, Inc		1,961
	148,413	*	Gem Diamonds Ltd		308
	231,875	*,e	General Moly, Inc		512
	65,600		Gerdau S.A.		452
	1,019,302		Gerdau S.A. (Preference)		7,849

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	997,589	*,e	Gindalbie Metals Ltd	$	220
	14,156		Givaudan S.A.		17,403
	195,416		Glatfelter		4,569
	764,900	*	Gleichen Resources Ltd		1,310
	6,375,141	e	Glencore International AG.		34,591
	218,925		Globe Specialty Metals, Inc		3,047
	293,517		Gloria Material Technology Corp		226
	246,000	e	Godo Steel Ltd		445
	78,783		Godrej Industries Ltd		427
	824,010		Gold Fields Ltd		6,365
	104,295	e	Gold Resource Corp		1,359
	1,049,347		Goldcorp, Inc		35,307
	116,149	*,e	Golden Minerals Co		276
	1,016,335	*,e	Golden Star Resources Ltd		1,626
	432,138	*,e	Golden Star Resources Ltd (Toronto)		693
	8,356,418		Goldsun Development & Construction Co Ltd		3,355
	2,630		Goltas Cimento		96
	2,305,000		Grand Pacific Petrochemical		1,173
	1,216,619		Grange Resources Ltd		275
	2,261,666	*	Graphic Packaging Holding Co		16,940
	605,755	*,m	Great Basin Gold Ltd		6
	148,000		Great China Metal Industry		172
	197,748	*,m	Great Southern Ltd		0	^
	539,000		Greatview Aseptic Packaging Co		361
	42,263		Greif, Inc (Class A)		2,266
	21,372,543	*	G-Resources Group Ltd		1,118
	534,557		Grupo Argos S.A.		6,372
	157,152		Grupo Argos S.A.(Prf)		1,872
	370,652		Grupo Empresarial Ence S.A.		1,052
	8,014,849		Grupo Mexico S.A. de C.V. (Series B)		32,374
	300,700	*,e	Grupo Simec SAB de C.V.		1,427
	341,652	*,e	Gryphon Minerals Ltd		125
	28,607	*	GSE Holding, Inc		236
	26,092	*	Gubre Fabrikalari TAS		238
	41,946		Gujarat Flourochemicals		232
	118,398		Gujarat Mineral Development Corp Ltd		364
	24,544		Gujarat Narmada Valley Fertilizers Co Ltd		34
	488,901		Gujarat NRE Coke Ltd		151
	177,545		Gujarat State Fertilisers & Chemicals Ltd		191
	3,179,452	*,e,m	Gunns Ltd		265
	1,584	*,m	Gunns Ltd (Forest)		35
	433		Gurit Holding AG.		176
	118,542	*	Guyana Goldfields, Inc		329
	16,372		H&R WASAG AG.		207
	185,926		H.B. Fuller Co		7,266
	2,488	*	Hadera Paper Ltd		140
	23,210	e	Han Kuk Carbon Co Ltd		175
	7,020	e	Hanil Cement Manufacturing		361
	12,080	e	Hansol Chemical Co Ltd		257
	43,750	e	Hansol Paper Co		473
	104,385	e	Hanwha Chemical Corp		1,859
	61,777		Hanwha Corp		1,879

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	567,172		Harmony Gold Mining Co Ltd	$	3,656
	32,852		Hawkins, Inc		1,312
	69,453	e	Haynes International, Inc		3,841
	451,843	*	Headwaters, Inc		4,925
	1,133,629	e	Hecla Mining Co		4,478
	70,425		HeidelbergCement AG.		5,078
	73,192	e	Hexpol AB (Series B)		4,208
	165,914	*	Highland Gold Mining Ltd		217
	161,729		Hill & Smith Holdings plc		1,096
	2,016,475		Hindalco Industries Ltd		3,410
	190,773		Hitachi Chemical Co Ltd		2,924
	387,329	e	Hitachi Metals Ltd		3,711
	365,030	*	Ho Tung Chemical Corp		168
	244,785	e	Hochschild Mining plc		1,019
	28,288		Hoganas AB (Class B)		1,401
	524,929	e	Hokuetsu Paper Mills Ltd		2,517
	1,386,557		Holcim Ltd		110,753
	135,672	e	Holmen AB (B Shares)		4,037
	50,469	e	Honam Petrochemical Corp		9,036
	150,309	*	Horsehead Holding Corp		1,635
	49,000		Hsin Kuang Steel Co Ltd		31
	2,582,700	e	Huabao International Holdings Ltd		1,122
	615,800	*	Hubei Sanonda Co Ltd		344
	38,250		Huchems Fine Chemical Corp		834
	480,717		HudBay Minerals, Inc		4,623
	209,718		Huhtamaki Oyj		4,126
	41,870	*	Hulamin Ltd		24
	1,648,000	*,e	Hunan Non-Ferrous Metal Ltd		498
	943,606		Huntsman Corp		17,542
	30,933	e	Hyosung Corp		1,533
	43,289	e	Hyundai Hysco		1,337
	87,171		Hyundai Steel Co		6,396
	1,193,210	e	IAMGOLD Corp		8,610
	1,387,611	e	Iluka Resources Ltd		13,638
	270,383		Imdex Ltd		347
	132,984		Imerys S.A.		8,665
	666,793	e	Impala Platinum Holdings Ltd		9,843
	92,200	*	Imperial Metals Corp		1,357
	418,990	*	Impexmetal S.A.		358
	4,495,631		Incitec Pivot Ltd		14,531
	263,904		Independence Group NL		1,099
	244,893		India Cements Ltd		377
	1,370,592	*	Indophil Resources NL		457
	198,200		Indorama Ventures PCL (ADR)		155
	1,618,178		Indorama Ventures PCL (Foreign)		1,260
	16,000	*,e	Industrias CH SAB de C.V.		139
	210,900	e	Industrias Penoles S.A. de C.V.		10,013
	60,602		Inmet Mining Corp		4,036
	265,620		Inner Mongolia Eerduosi Resourses Co Ltd		263
	94,395		Innophos Holdings, Inc		5,150
	108,255		Innospec, Inc		4,794
	113,452		International Flavors & Fragrances, Inc		8,698

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,325,654		International Paper Co	$	108,329
	181,805	*,e	International Tower Hill Mines Ltd		277
	536,118	*,e	Intrepid Mines Ltd		140
	71,395		Intrepid Potash, Inc		1,339
	1,354,000	*	IRC Ltd		156
	481,000	*	Ishihara Sangyo Kaisha Ltd		417
	1,404,147	*	Ispat Industries Ltd		227
	293,810		Israel Chemicals Ltd		3,807
	1,164		Israel Corp Ltd		885
	5,220	e	ISU Chemical Co Ltd		87
	240,654		Italcementi S.p.A.		1,404
	273,373		Italcementi S.p.A. RNC		808
	8,046	*	Italmobiliare S.p.A.		150
	21,515	*	Italmobiliare S.p.A. RSP		269
	223,213	*,e	Ivanhoe Australia Ltd		62
	538,616	*	Ivanhoe Mines Ltd		3,430
	42,897	*	Izmir Demir Celik Sanayi AS		73
	1,170,030		James Hardie Industries NV		12,274
	197,797		Jastrzebska Spolka Weglowa S.A.		5,675
	607,845	e	JFE Holdings, Inc		11,765
	3,336,800		Jiangxi Copper Co Ltd		7,400
	99,092		Jindal Saw Ltd		150
	446,298		Jindal Steel & Power Ltd		2,865
	330,000	*	Jinshan Gold Mines, Inc		1,247
	23,618		Johnson Matthey plc		829
	28,700	e	JSP Corp		427
	400,527		JSR Corp		8,210
	112,222		JSW Steel Ltd		1,391
	503,989	*	Jupiter Mines Ltd		47
	17,831		K&S AG.		831
	2,571,394	*,b,e,m	Kagara Zinc Ltd		27
	80,933		Kaiser Aluminum Corp		5,232
	329,811		Kaneka Corp		1,908
	311,837		Kansai Paint Co Ltd		3,463
	216,815		Kapstone Paper and Packaging Corp		6,027
	1,586,240		Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		1,422
	384		Kartonsan Karton Sanayi		60
	403,162		Kazakhmys plc		2,412
	121,769	e	Kemira Oyj		1,693
	13,651		Kemrock Industries & Exports Ltd		11
	520,143		KGHM Polska Miedz S.A.		25,209
	734,400		Kian Joo Can Factory BHD		563
	501,854	e	Kingsgate Consolidated Ltd		2,042
	403,523		Kingsrose Mining Ltd		272
	1,090,628		Kinross Gold Corp		8,632
	1,038,500		Kinsteel BHD		101
	89,638	*,e	Kirkland Lake Gold, Inc		475
	13,620		KISCO Corp		339
	12,588	e	KISWIRE Ltd		357
	858,265		Klabin S.A.		5,925
	340,087		KME Group S.p.A.		131

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	33,863	e	KMG Chemicals, Inc	$	658
	54,000		Koatsu Gas Kogyo Co Ltd		305
	1,972,998	*,e	Kobe Steel Ltd		2,323
	8,750	e	Kolon Corp		182
	46,334	e	Kolon Industries, Inc		2,252
	437		Konya Cimento Sanayii		83
	106,976		Koppers Holdings, Inc		4,705
	18,796		Korea Kumho Petrochemical		1,806
	4,409	e	Korea Petrochemical Ind Co Ltd		182
	14,819		Korea Zinc Co Ltd		4,747
	1,209,115		Koza Altin Isletmeleri AS		28,279
	218,575	*	Koza Anadolu Metal Madencilik Isletmeleri AS		627
	3,822		KPX Chemical Co Ltd		181
	131,230	*	Kraton Polymers LLC		3,071
	44,262	e	Kronos Worldwide, Inc		693
	57,000	e	Krosaki Harima Corp		136
	11,691	e	Kukdo Chemical Co Ltd		511
	108,002	e	Kumba Iron Ore Ltd		5,786
	140,000	e	Kumiai Chemical Industry Co Ltd		844
	404,539		Kuraray Co Ltd		5,705
	182,000	e	Kureha CORP		648
	244,000		Kurimoto Ltd		803
	16,900	e	Kyoei Steel Ltd		303
	481,120		Lafarge Malayan Cement BHD		1,535
	503,394		Lafarge S.A.		33,515
	495,100	*	Lake Shore Gold Corp		297
	134,806	*,e	Landec Corp		1,951
	768,253		Lanxess AG.		54,613
	2,786,800		Lee & Man Paper Manufacturing Ltd		2,191
	551,193		LEE Chang Yung Chem IND Corp		619
	12,594		Lenzing AG.		1,055
	1,426,000	*	Lepanto Consolidated Mining		40
	67,943		LG Chem Ltd		16,300
	13,005		LG Chem Ltd (Preference)		1,048
	14,776		Linde AG.		2,752
	110,000		Lingbao Gold Co Ltd		42
	64,300		Lintec Corp		1,229
	784,100		Lion Industries Corp BHD		228
	761,000	*,e	LionGold Corp Ltd		709
	28,854		Lock & Lock Co Ltd		744
	158,045	*,e	London Mining plc		282
	741,000		Long Chen Paper Co Ltd		221
	547,571	e	Lonmin plc		2,432
	587,353	*	Louisiana-Pacific Corp		12,687
	126,931	*	LSB Industries, Inc		4,415
	76,000		Luks Group Vietnam Holdings Ltd		22
	2,944,000	e	Lumena Resources Corp		636
	708,181	*	Lundin Mining Corp		3,095
	2,617,766	*,e	Lynas Corp Ltd		1,541
	2,834,977		LyondellBasell Industries AF S.C.A		179,426
	14,285		Madras Cements Ltd		67
	61,469	*,e	MAG. Silver Corp		583

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	220,000		Magnesita Refratarios S.A.	$	784
	4,905		Maharashtra Seamless Ltd		20
	245,521		Major Drilling Group International		2,187
	3,087		Managem		542
	135,077		Mardin Cimento Sanayii		400
	63,335	e	Martin Marietta Materials, Inc		6,461
	12,575		Maruichi Steel Tube Ltd		293
	4,342,227		Masisa S.A.		437
	18,092		Mayr-Melnhof Karton AG.		1,981
	867,855	*,e	McEwen Mining, Inc		2,482
	705,461		MeadWestvaco Corp		25,608
	121,624	e	Mechel Steel Group OAO (ADR)		615
	191,255	e	Medusa Mining Ltd		860
	2,964,930	*	Merafe Resources Ltd		235
	111,713		Metals USA Holdings Corp		2,307
	549,742	*	Metals X Ltd		86
	319,200		Metalurgica Gerdau S.A.		3,080
	136,200	e	Methanex Corp		5,549
	1,592,490	e	Mexichem SAB de C.V.		8,542
	43,900	*	Midas Gold Corp		57
	959,000	e	Midas Holdings Ltd		420
	375,172	*,e	Midway Gold Corp		458
	494,942	e	Mincor Resources NL		377
	916,438	*,e	Minera Frisco SAB de C.V.		3,974
	87,261	*,e	Mineral Deposits Ltd		345
	142,700		Minerals Technologies, Inc		5,923
	3,184,400	*,e	Minmetals Resources Ltd		1,174
	15,698		Miquel y Costas & Miquel S.A.		470
	612,404	*,e	Mirabela Nickel Ltd		180
	1,848,113	e	Mitsubishi Chemical Holdings Corp		8,809
	567,143		Mitsubishi Gas Chemical Co, Inc		3,756
	1,240,172		Mitsubishi Materials Corp		3,511
	400,000		Mitsubishi Paper Mills Ltd		397
	173,000		Mitsubishi Steel Manufacturing Co Ltd		371
	915,212	e	Mitsui Chemicals, Inc		1,997
	708,000		Mitsui Mining & Smelting Co Ltd		1,645
	564,000		Mitsui Mining Co Ltd		754
	106,898	*	Mittal Steel South Africa Ltd		331
	801,648		MMC Norilsk Nickel (ADR)		13,564
	546,834	*	MMX Mineracao e Metalicos S.A.		598
	20,185	e	MNTech Co Ltd		198
	188,302	*,e	Molycorp, Inc		979
	248,047		Mondi Ltd		3,356
	806,501		Mondi plc		10,983
	2,148		Monnet Ispat & Energy Ltd		8
	3,633,209		Monsanto Co		383,776
	53,400		Moorim P&P Co Ltd		234
	1,501,605		Mosaic Co		89,511
	2,300,967		Mount Gibson Iron Ltd		1,255
	267,267		Mpact Ltd		680
	262,570	e	M-real Oyj (B Shares)		775
	134,319		Myers Industries, Inc		1,875

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	110,914	*	Mytilineos Holdings S.A.	$	585
	531,194	*,m	Nagarjuna Fertilizers & Chemicals		77
	33,830	e	Namhae Chemical Corp		223
	1,068,163		Nampak Ltd		3,728
	7,080,757		Nan Ya Plastics Corp		12,515
	702,303		Nantex Industry Co Ltd		454
	84,509		Neenah Paper, Inc		2,600
	37,100		Neturen Co Ltd		275
	478,941		Nevsun Resources Ltd		1,848
	588,874	*	New Gold, Inc		5,356
	30,300	e	New Japan Chemical Co Ltd		85
	112,930	e	New World Resources plc (A Shares)		378
	891,399		Newcrest Mining Ltd		18,661
	90,503	e	NewMarket Corp		23,563
	1,033,370		Newmont Mining Corp		43,288
	208,500	*	NGEx Resources, Inc		620
	1,185,000		Nickel Asia Corp		697
	61,000		Nihon Nohyaku Co Ltd		415
	54,874		Nihon Parkerizing Co Ltd		960
	178,000		Nihon Yamamura Glass Co Ltd		347
	2,538,900	e	Nine Dragons Paper Holdings Ltd		2,398
	115,000		Nippon Denko Co Ltd		382
	199,800		Nippon Kayaku Co Ltd		2,444
	679,000	e	Nippon Light Metal Holdings Co Ltd		777
	402,523		Nippon Paint Co Ltd		4,035
	119,253	e	Nippon Paper Group, Inc		1,819
	159,000		Nippon Shokubai Co Ltd		1,403
	355,000		Nippon Soda Co Ltd		1,677
	4,980,071		Nippon Steel Corp		12,685
	55,810		Nippon Synthetic Chemical Industry Co Ltd		476
	199,000		Nippon Valqua Industries Ltd		516
	290,100		Nissan Chemical Industries Ltd		3,497
	147,900		Nisshin Steel Holdings Co Ltd		1,173
	132,000		Nittetsu Mining Co Ltd		676
	287,552		Nitto Denko Corp		17,314
	366,921		NOF Corp		1,815
	137,853		Noranda Aluminium Holding Corp		619
	103,384	*	Norbord, Inc		3,519
	95,802		Norddeutsche Affinerie AG.		6,097
	123,014		Norsk Hydro ASA		536
	155,822	*,e	North American Palladium Ltd		222
	13,010,000	*	North Mining Shares Co Ltd		687
	269,910		Northam Platinum Ltd		1,161
	144,463	*,e	Northern Dynasty Minerals		459
	205,853	*,e	Northern Iron Ltd		87
	337,432		Northern Star Resources Ltd		366
	617,430	*	Northland Resources S.A.		100
	355,349	*	Novagold Resources, Inc		1,305
	70,405	e	Novolipetsk Steel (GDR)		1,113
	19,416		Novozymes AS		659
	1,122,886		Nucor Corp		51,821
	2,131,314		Nufarm Ltd		8,781

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	317,927	e	Nuplex Industries Ltd	$	885
	345,929		Nyrstar		1,612
	86,450	*,m	Nyrstar (Strip VVPR)		0	^
	124,000	*	Ocean Plastics Co Ltd		138
	323,500	*	OceanaGold Corp		920
	1,445,752	e	OJI Paper Co Ltd		5,436
	164,000		Okamoto Industries, Inc		561
	341,786	e	Olin Corp		8,620
	32,696	e	Olympic Steel, Inc		781
	159,851	*	OM Group, Inc		3,753
	350,588	*,e	OM Holdings Ltd		120
	99,314		Omnia Holdings Ltd		1,706
	155,273	*	Omnova Solutions, Inc		1,191
	4,571,052		OneSteel Ltd		4,181
	206,700	*,e	Orbite Aluminae Inc		315
	452,354		Orica Ltd		11,563
	11,200	*,m	Orient Cement Ltd		12
	30,600		Oriental Union Chemical Corp		32
	9,710		Orissa Minerals Development Co Ltd		426
	15,300	e	Osaka Steel Co Ltd		264
	683,893	*	Osisko Mining Corp		4,060
	1,303,126	*,e	Outokumpu Oyj		993
	230,000		Overseas Chinese Town Asia Holdings Ltd		114
	1,480,404	*,e	Owens-Illinois, Inc		39,453
	51,405		Oxiana Ltd		287
	188,507	e	Pacific Metals Co Ltd		975
	25,900		Pack Corp		514
	444,812		Packaging Corp of America		19,959
	49,371		Palabora Mining Co Ltd		564
	1,434,699	e	Pan African Resources plc		343
	200,066		Pan American Silver Corp		3,289
	591,626		Pan Australian Resources Ltd		1,540
	99,013		Papeles y Cartones de Europa S.A.		342
	128,081	*,e	Papillon Resources Ltd		173
	484,357	*,e	Paramount Gold and Silver Corp		1,080
	242,400	*	Paranapanema S.A.		666
	330,812		Park Elektrik Madencilik Sanayi Ve Ticaret AS		1,291
	657,763	*,e	Patagonia Gold plc		165
	373,349	*	Perilya Ltd		98
	577,688	*,e	Perseus Mining Ltd		1,082
	200,669		Peter Hambro Mining plc		682
	506,462	*	Petra Diamonds Ltd		980
	3,776,600		Petronas Chemicals Group BHD		7,872
	264,041	*,m	Pike River Coal Ltd		0	^
	955,626		PolyOne Corp		23,327
	7,560		Poongsan		158
	29,410		Poongsan Corp		725
	504,058		Portucel Empresa Produtora de Pasta e Papel S.A.		1,734
	106,852		POSCO		31,444
	48,800		POSCO M-Tech Co Ltd		459
	8,231		POSCO Refractories & Environment Co Ltd		915
	854,406		Potash Corp of Saskatchewan Toronto		33,559

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	579,290		PPC Ltd	$	2,019
	916,403		PPG Industries, Inc		122,743
	845,976		Praxair, Inc		94,360
	184,200	*	Premier Gold Mines Ltd		544
	349,300		Press Metal BHD		201
	98,800	*	Pretium Resources, Inc		784
	201,886	*,e	Primero Mining Corp		1,347
	34,154		Prism Cement Ltd		26
	5,126,000		PT Aneka Tambang Tbk		725
	22,947,000	*	PT Darma Henwa Tbk		118
	3,563,500		PT Holcim Indonesia Tbk		1,323
	2,988,800		PT Indocement Tunggal Prakarsa Tbk		7,186
	7,981,500		PT International Nickel Indonesia Tbk		1,960
	8,368,500		PT Krakatau Steel Tbk		570
	3,255,500	*	PT Polychem Indonesia Tbk		123
	4,998,900		PT Semen Gresik Persero Tbk		9,131
	4,181,000		PT Timah Tbk		617
	4,838,987		PTT Global Chemical PCL		11,526
	45,861		Quaker Chemical Corp		2,707
	424,638	*,e	Qualipak International Holdings Ltd		35
	93,891		Rain Commodities Ltd		82
	113,700	*,e	Rainy River Resources Ltd		292
	17,540		Rallis India Ltd		37
	10,553		Randgold Resources Ltd		910
	98,361	e	Rautaruukki Oyj		626
	37,284		Recticel S.A.		295
	357,523	*	Regis Resources Ltd		1,551
	478,565		Reliance Steel & Aluminum Co		34,059
	593,767	e	Rengo Co Ltd		3,040
	279,773	*,e	Resolute Forest Products		4,527
	2,606,475		Resolute Mining Ltd		3,615
	97,792	*,e	Revett Minerals, Inc		223
	161,353	*	Rex Minerals Ltd		79
	263,055		Rexam plc		2,112
	68,599		RHI AG.		2,226
	81,738	*	Rio Alto Mining Ltd		380
	602,699	e	Rio Tinto Ltd		36,151
	2,276,302		Rio Tinto plc		107,215
	178,099	e	Rio Tinto plc (ADR)		8,385
	285,781		Rock-Tenn Co (Class A)		26,518
	165,686		Rockwood Holdings, Inc		10,842
	830,200	*	Romarco Minerals, Inc		670
	59,000		Rotam Global Agrosciences Ltd		145
	81,850	*	Royal Bafokeng Platinum Ltd		481
	161,788		Royal Gold, Inc		11,492
	197,781		RPC Group plc		1,195
	172,032		RPM International, Inc		5,433
	114,789	*,e	RTI International Metals, Inc		3,638
	380,300	*,e	Rubicon Minerals Corp		925
	22,013		Sa des Ciments Vicat		1,373
	329,800	*	Sabina Gold & Silver Corp		614
	7,659,040	*	Sahaviriya Steel Industries PCL		152

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	245,000		Sakai Chemical Industry Co Ltd	$	780
	269,929		Sally Malay Mining Ltd		105
	2,683		Salzgitter AG.		108
	2,833		Sam Kwang Glass Ind Co Ltd		171
	25,546	e	Samsung Fine Chemicals Co Ltd		1,276
	142,758		San Fang Chemical Industry Co Ltd		122
	777,800	*	San Gold Corp		222
	116,520	*	Sandfire Resources NL		734
	188,000		Sanyo Chemical Industries Ltd		1,033
	139,000	*,e	Sanyo Special Steel Co Ltd		496
	639,330	*	Sappi Ltd		1,997
	495,267	*	Saracen Mineral Holdings Ltd		147
	916,500		Sateri Holdings Ltd		195
	915,300		Satipel Industrial S.A.		7,383
	282,355	e	Schmolz + Bickenbach AG.		696
	91,983		Schnitzer Steel Industries, Inc (Class A)		2,452
	156,064		Schweitzer-Mauduit International, Inc		6,044
	104,220	e	Scotts Miracle-Gro Co (Class A)		4,506
	57,095	*,e	Seabridge Gold, Inc		790
	35,606		Seah Besteel Corp		1,060
	2,498		SeAH Holdings Corp		206
	11,468	e	SeAH Steel Corp		1,029
	5,747,430		Sealed Air Corp		138,571
	1,037,000		Sekisui Plastics Co Ltd		2,760
	782,220		SEMAFO, Inc		1,956
	126,421		Semapa-Sociedade de Investimento e Gestao		1,142
	183,398		Sensient Technologies Corp		7,169
	21,207	*	Sequana S.A.		170
	506,941		Sesa Goa Ltd		1,456
	17,000		Sesoda Corp		18
	303,562		Severstal (GDR)		2,701
	303,000		Shandong Chenming Paper Holdings Ltd		110
	303,100		Shandong Chenming Paper Holdings Ltd (Class B)		130
	155,400	*	Shanghai Chlor-Alkali Chemical Co Ltd		81
	246,300		Shanghai Yaohua Pilkington Glass Co Ltd		121
	201,000		Sheng Yu Steel Co Ltd		121
	587,746	e	Sherritt International Corp		2,916
	531,969		Sherwin-Williams Co		89,844
	218,000	*	Shihlin Paper Corp		343
	11,529	*	Shine Co Ltd		109
	567,227		Shin-Etsu Chemical Co Ltd		37,620
	119,600		Shin-Etsu Polymer Co Ltd		468
	1,855,032		Shinkong Synthetic Fibers Corp		584
	259,000		Shiny Chemical Industrial Co Ltd		390
	3,738,000	e	Shougang Concord International Enterprises Co Ltd		208
	1,046,660	e	Showa Denko KK		1,577
	6,800		Siam Cement PCL		112
	142,500		Siam Cement PCL (ADR)		2,341
	487,800		Siam Cement PCL (Foreign)		8,084
	1,104,010	*,e	Sibanye Gold Ltd		1,608
	169,892		Sigma-Aldrich Corp		13,197
	1,131,000	m	Sijia Group Co		100

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	598		Sika AG.	$	1,455
	147,351		Silgan Holdings, Inc		6,962
	368,662	*,e	Silver Lake Resources Ltd		812
	96,542	*	Silver Standard Resources, Inc		1,019
	755,727	e	Silver Wheaton Corp		23,657
	395,889	e	Silvercorp Metals, Inc		1,574
	172,270	e	Sims Group Ltd		1,811
	6,742,000	e	Sinochem Hong Kong Holding Ltd		1,718
	1,116,000		Sinon Corp		546
	7,483,400		Sinopec Shanghai Petrochemical Co Ltd		3,298
	1,366,171	*,e	Sirius Minerals plc		416
	19,092		SK Chemicals Co Ltd		966
	24,767	e	SKC Co Ltd		717
	523,080		Smurfit Kappa Group plc		8,672
	80,000	*,e	Smurfit Kappa Group plc (Euro Comp)		1,314
	127,396		Sociedad Quimica y Minera de Chile S.A. (ADR)		7,064
	136,906		Sociedad Quimica y Minera de Chile S.A. (Class B)		7,597
	2,826		Societe Internationale de Plantations d’Heveas S.A.		235
	31,472	e	SODIFF Advanced Materials Co Ltd		1,035
	522,478		Solar Applied Materials Technology Co		620
	8,350		Solvay S.A.		1,133
	15,770	e	Songwon Industrial Co Ltd		173
	196,739	e	Sonoco Products Co		6,884
	259,351		South Valley Cement		144
	385,000		Southeast Cement Co Ltd		178
	1,818,990	e	Southern Copper Corp (NY)		68,339
	188,137		Ssab Svenskt Stal AB (Series A)		1,439
	97,178	e	Ssab Svenskt Stal AB (Series B)		640
	44,540	*	Ssangyong Cement Industrial Co Ltd		311
	659,381	*,e	St Barbara Ltd		827
	434,267		Steel Dynamics, Inc		6,892
	13,000		Stella Chemifa Corp		249
	59,086		Stepan Co		3,728
	2,619,650		Sterlite Industries India Ltd		4,534
	475,947	*,e	Stillwater Mining Co		6,154
	5,034		STO AG.		774
	1,397,462	e	Stora Enso Oyj (R Shares)		9,047
	87,300		STP & I PCL		275
	782,221	e	Sumitomo Bakelite Co Ltd		3,295
	1,084,948		Sumitomo Chemical Co Ltd		3,416
	979,000		Sumitomo Light Metal Industries Ltd		1,003
	1,713,309		Sumitomo Metal Mining Co Ltd		24,356
	980,193		Sumitomo Osaka Cement Co Ltd		2,873
	119,000		Sumitomo Seika Chemicals Co Ltd		473
	20,612	e	Sumitomo Titanium Corp		420
	313,199	*	SunCoke Energy, Inc		5,115
	3,011,979	*,e,m	Sundance Resources Ltd		659
	13,211		Supreme Industries Ltd		76
	165,829		Symrise AG.		6,580
	165,363		Syngenta AG.		69,197
	1,331,987		Synthos S.A.		2,582

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,438,200		TA Chen Stainless Pipe	$	680
	1,235		Taekwang Industrial Co Ltd		1,154
	194,052	*,e	Tahoe Resources, Inc		3,413
	115,000	*	Tahoe Resources, Inc (Toronto)		2,023
	2,323,264		Taiheiyo Cement Corp		5,580
	8,496,988		Taiwan Cement Corp		10,487
	1,059,600		Taiwan Fertilizer Co Ltd		2,538
	309,345		Taiwan Hon Chuan Enterprise Co Ltd		801
	155,000		Taiwan Prosperity Chemical Corp		178
	175,960		Taiwan Pulp & Paper Corp		54
	1,068,980	*	Taiwan Styrene Monomer		313
	19,700		Taiyo Ink Manufacturing Co Ltd		571
	168,560	e	Taiyo Nippon Sanso Corp		1,174
	130,000		Takasago International Corp		723
	126,000		Takiron Co Ltd		476
	565,365	*,e	Talvivaara Mining Co plc		165
	152,000	*	Tang Eng Iron Works Co Ltd		155
	149,029	*,e	Tanzanian Royalty Exploration Corp		582
	298,278	*	Taseko Mines Ltd		831
	361,257		Tata Steel Ltd		2,085
	2,370,800	*	Tata Steel Thailand PCL		83
	13,231	e	Technosemichem Co Ltd		521
	598,926	e	Teck Cominco Ltd		16,862
	6,009,412	e	Teijin Ltd		13,943
	68,163		Ten Cate NV		1,601
	36,800		Tenma Corp		441
	20,000		Ternium S.A. (ADR)		407
	54,544		Tessenderlo Chemie NV		1,452
	84,779	*,e	Texas Industries, Inc		5,350
	214,881	*,e	Thompson Creek Metals Co, Inc (Toronto)		649
	211,000		Thye Ming Industrial Co Ltd		225
	31,131		ThyssenKrupp AG.		635
	3,868,000		Tiangong International Co Ltd		1,129
	1,865,808	*	Tiger Resources Ltd		636
	71,302		Tikkurila Oy		1,502
	269,036	*	Timmins Gold Corp		779
	78,069	*	Titan Cement Co S.A.		1,301
	254,000		Toagosei Co Ltd		1,113
	40,000	e	Toda Kogyo Corp		138
	34,900	e	Toho Titanium Co Ltd		287
	169,000		Toho Zinc Co Ltd		688
	555,000		Tokai Carbon Co Ltd		1,917
	754,000	e	Tokuyama Corp		2,124
	118,400		Tokyo Ohka Kogyo Co Ltd		2,525
	174,796	e	Tokyo Rope Manufacturing Co Ltd		215
	184,000	e	Tokyo Steel Manufacturing Co Ltd		781
	1,317,750		Ton Yi Industrial Corp		811
	18,613	*	Tong Yang Major Corp		20
	246,000		Topy Industries Ltd		574
	544,534		Toray Industries, Inc		3,699
	1,465,000		Tosoh Corp		4,197
	252,000		Toyo Ink Manufacturing Co Ltd		1,202

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	126,000		Toyo Kohan Co Ltd	$	403
	130,344		Toyo Seikan Kaisha Ltd		1,803
	1,332,676	e	Toyobo Co Ltd		2,272
	1,555,500		TPI Polene PCL		831
	98,080	e	Tredegar Corp		2,887
	249,351		Troy Resources NL		565
	878,335		TSRC Corp		1,708
	122,685	*	Tubacex S.A.		330
	127,313	e	Tubos Reunidos S.A.		280
	1,033,076		Tung Ho Steel Enterprise Corp		988
	1,872,359		UBE Industries Ltd		3,699
	206,764		Uflex Ltd		277
	20,305	*,e	UFP Technologies, Inc		400
	100,055		Ultra Tech Cement Ltd		3,446
	9,408		Umicore		443
	34,600		Uniao de Industrias Petroquimicas S.A.		10
	9,791	e	Unid Co Ltd		368
	443,970		United Phosphorus Ltd		962
	8,325	*	United States Lime & Minerals, Inc		443
	180,338	e	United States Steel Corp		3,517
	619,000		Universal Cement Corp		370
	24,538	*,e	Universal Stainless & Alloy		892
	896,625		UPC Technology Corp		475
	795,181	e	UPM-Kymmene Oyj		8,894
	394,333		Uralkali (GDR)		14,583
	198,209	*,e	US Antimony Corp		343
	52,134	e	US Silica Holdings Inc		1,229
	48,850		Usha Martin Ltd		20
	2,063,987		USI Corp		1,482
	438,462		Usinas Siderurgicas de Minas Gerais S.A. (Preference)		2,348
	2,426,394		Vale S.A.		41,906
	3,221,476		Vale S.A. (Preference)		52,991
	337,996		Valspar Corp		21,040
	351,842		Vedanta Resources plc		5,398
	472		Vetropack Holding AG.		946
	205,183		Victrex plc		5,191
	812,300		Vinythai PCL		502
	124,807	*	Viohalco S.A.		529
	245,585	*,e	Vista Gold Corp		530
	40,675		Voestalpine AG.		1,252
	1,128,833		Volcan Cia Minera S.A.		963
	276,942		Vulcan Materials Co		14,318
	229,722	e	Wacker Chemie AG.		16,469
	1,994,110	e	Walter Energy, Inc		56,832
	159,941		Wausau Paper Corp		1,724
	107,123		Welspun-Gujarat Stahl Ltd		99
	17,052	*	West African Minerals Corp		13
	2,818,000	e	West China Cement Ltd		467
	107,462		West Fraser Timber Co Ltd		9,521
	144,782	e	Western Areas NL		518
	52,907	*	Western Desert Resources Ltd		43
	187,565	e	Westlake Chemical Corp		17,537

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,210	*,e	WHX Corp	$	342
	1,975,000	e	Winsway Coking Coal Holding Ltd		230
	330,166		Worthington Industries, Inc		10,229
	795,938	*	WR Grace & Co		61,693
	262,500		WTK Holdings BHD		76
	1,118,000	e	Xinjiang Xinxin Mining Industry Co Ltd		233
	670,000		Xiwang Special Steel Co Ltd		98
	1,296,350		Xstrata plc		21,104
	1,107,442	e	Yamana Gold, Inc		17,061
	5,311	e	Yamato Kogyo Co Ltd		146
	512,162		Yara International ASA		23,380
	570,000		Yeun Chyang Industrial Co Ltd		319
	2,045,670		Yieh Phui Enterprise		594
	1,936,100	e	Yingde Gases		2,162
	322,000		Yip’s Chemical Holdings Ltd		345
	327,000		Yodogawa Steel Works Ltd		1,232
	42,970		Youlchon Chemical Co Ltd		406
	852,000		Youyuan International Holdings Ltd		269
	4,045,285		Yuen Foong Yu Paper Manufacturing Co Ltd		2,022
	74,650	*	Yukon-Nevada Gold Corp		121
	635,116		Yule Catto & Co plc		2,078
	59,000		Yung Chi Paint & Varnish Manufacturing Co Ltd		142
	9,931		Zaklady Azotowe Pulawy S.A.		402
	355,512		Zeon Corp		3,721
	118,818	e	Zep, Inc		1,783
	1,797,777		Zhaojin Mining Industry Co Ltd		2,427
	71,454		Zignago Vetro S.p.A.		442
	8,275,700	e	Zijin Mining Group Co Ltd		2,743
	94,330	*,e	Zoltek Cos, Inc		1,127
			TOTAL MATERIALS		6,736,831
MEDIA - 3.3%
	89,560		Agora S.A.		209
	258,860		Aimia, Inc		3,924
	141,365	*	AMC Networks, Inc		8,931
	103,936		Antena 3 de Television S.A.		567
	575,901		APN News & Media Ltd		220
	106,264		Arbitron, Inc		4,981
	170,172	*	Arnoldo Mondadori Editore S.p.A.		204
	5,931	*,e	Artprice.com		178
	32,400		Asatsu-DK, Inc		907
	91,000		Astral Media, Inc		4,393
	37,959		Avex Group Holdings, Inc		1,027
	35,765		Axel Springer AG.		1,554
	9,630	e	Beasley Broadcasting Group, Inc		57
	2,559,700		BEC World PCL (Foreign)		5,610
	337,420		Belo (A.H.) Corp (Class A)		3,317
	16,597,100		Benpres Holdings Corp		2,931
	162,639		Borussia Dortmund GmbH & Co KGaA		682
	6,534,311		British Sky Broadcasting plc		87,827
	469,234	e	Cablevision Systems Corp (Class A)		7,020
	59,456		Cairo Communication S.p.A.		217

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	120,997		Canal Plus	$	841
	81,433	*	Carmike Cinemas, Inc		1,476
	3,187,501		CBS Corp (Class B)		148,824
	71,000	*,e	Central European Media Enterprises Ltd (Class A)		293
	176,298	*,e	Nasdaq		744
	395,352	*,e	Charter Communications, Inc		41,188
	59,790		Cheil Communications, Inc		1,296
	78,978		Chime Communications plc		314
	287,246		Cinemark Holdings, Inc		8,457
	157,996	e	Cineplex Galaxy Income Fund		5,363
	267,838		Cineworld Group plc		1,135
	436,000		City Telecom (HK) Ltd		142
	14,500		CJ CGV Co Ltd		656
	25,844	*	CJ E&M Corp		824
	89,023	e	Clear Channel Outdoor Holdings, Inc (Class A)		667
	19,382		Cogeco Cable, Inc		870
	16,389,234		Comcast Corp (Class A)		688,512
	6,400	*,e	COOKPAD, Inc		321
	105,678	*,e	Corus Entertainment, Inc		2,721
	133,813	*,e	Crown Media Holdings, Inc (Class A)		274
	46,545		CTS Eventim AG.		1,579
	232,675	*,e	Cumulus Media, Inc (Class A)		784
	957	e	CyberAgent, Inc		1,759
	315,898	*	Cyfrowy Polsat S.A.		1,649
	33,110		Daekyo Co Ltd		201
	68,100		Daiichikosho Co Ltd		1,850
	3,674	*,e	Daily Journal Corp		408
	696,342	e	Daily Mail & General Trust		7,519
	4,173,128	*	DEN Networks Ltd		14,614
	160,942	e	Dentsu, Inc		4,807
	109,708	*,e	Digital Generation, Inc		705
	3,185,796	*	DIRECTV		180,348
	1,002,484	*,e	Discovery Communications, Inc (Class A)		78,936
	186,948	*	Discovery Communications, Inc (Class C)		13,000
	1,761,814		DISH Network Corp (Class A)		66,773
	772,072	*	Dogan Yayin Holding		346
	126,087	*,e	DreamWorks Animation SKG, Inc (Class A)		2,391
	87,694	*,e	Entercom Communications Corp (Class A)		652
	194,181	e	Entravision Communications Corp (Class A)		619
	724,581		Eros International Media Ltd		2,308
	65,712		Euromoney Institutional Investor plc		966
	270,133		Eutelsat Communications		9,530
	142,278	*	EW Scripps Co (Class A)		1,712
	1,157		Fenerbahce Sportif Hizmetleri Sanayi ve Ticaret AS		26
	34,598	e	Fisher Communications, Inc		1,358
	3,990		Fuji Television Network, Inc		6,937
	77,000	e	Gakken Co Ltd		225
	715	*	Galatasaray Sportif Sinai ve Ticari Yatirimlar AS		16
	1,401,924	e	Gannett Co, Inc		30,660
	200,925	e	Gestevision Telecinco S.A.		1,450
	25,135		GFK AG.		1,268

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	64,485	*,e	Global Sources Ltd	$	487
	4,324,727		Grupo Televisa S.A.		22,952
	323,250	e	Gruppo Editoriale L’Espresso S.p.A.		296
	70,326	e	Hakuhodo DY Holdings, Inc		5,412
	250,792		Harte-Hanks, Inc		1,954
	8,909	*	Hathway Cables and Datacom Pvt Ltd		44
	593,980		Havas S.A.		3,763
	242,999	*	Hurriyet Gazetecilik AS		122
	32,450		Hyundai Hy Communications & Network Co		175
	7,857,982	*	IBN18 Broadcast Ltd		4,082
	920,264		Informa plc		7,380
	4,372,511		Interpublic Group of Cos, Inc		56,974
	45,949		IPSOS		1,609
	8,403,508		ITV plc		16,569
	12,757		Jagran Prakashan Ltd		22
	823,097		JC Decaux S.A.		22,580
	2,747,283	e	John Fairfax Holdings Ltd		1,808
	93,305		John Wiley & Sons, Inc (Class A)		3,635
	216,019	*,e	Journal Communications, Inc (Class A)		1,452
	2,516		Jupiter Telecommunications Co		3,295
	97,559	*	Juventus Football Club S.p.A.		27
	358,824		Kabel Deutschland Holding AG.		33,128
	18,981	e	Kadokawa Holdings, Inc		508
	9,845		Kinepolis		1,236
	27,180		KT Skylife Co Ltd		810
	9,894		Lagardere S.C.A.		365
	115,117	*	Lamar Advertising Co (Class A)		5,596
	994,502	*,e	Liberty Global, Inc (Class A)		72,996
	370,628	*	Liberty Media Corp		41,373
	108,005	*	Lin TV Corp (Class A)		1,187
	308,851	*,e	Lions Gate Entertainment Corp		7,341
	620,999	*	Live Nation, Inc		7,682
	145,516		M6-Metropole Television		2,264
	183,783	*	Madison Square Garden, Inc		10,586
	283,300		Major Cineplex Group PCL		199
	107,177	e	Martha Stewart Living Omnimedia, Inc (Class A)		283
	193,419	*,e	McClatchy Co (Class A)		561
	702,836	e	McGraw-Hill Cos, Inc		36,604
	454,600		MCOT PCL		738
	98,588	e	MDC Partners, Inc		1,594
	1,202,800		Media Chinese International Ltd		454
	77	*,e	Media General, Inc (Class A)		0	^
	1,766,100		Media Prima BHD		1,392
	902,414		Mediaset S.p.A.		1,850
	139,547	e	Meredith Corp		5,339
	95,920		Modern Times Group AB (B Shares)		3,820
	68,597	e	Morningstar, Inc		4,796
	633,259		Naspers Ltd (N Shares)		39,456
	252,843		National CineMedia, Inc		3,990
	161,717		Navneet Publications India		172
	590,680	*	New York Times Co (Class A)		5,789
	4,505,479		News Corp (Class A)		137,507

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	119,915		Nexstar Broadcasting Group, Inc (Class A)	$	2,158
	773,887	e	Omnicom Group, Inc		45,582
	830,000		Oriental Press Group		98
	69,460		Outdoor Channel Holdings, Inc		620
	682,384	*,e	PagesJaunes Groupe S.A.		1,471
	261,490	*,e	Pandora Media, Inc		3,703
	498,880		Pearson plc		8,976
	3,070,000	e	Phoenix Satellite Television Holdings Ltd		1,131
	1,076,000		Pico Far East Holdings Ltd		387
	554,627	*	Premiere AG.		3,063
	365,953	*,e	Promotora de Informaciones S.A.		106
	493,596		ProSiebenSat.1 Media AG.		17,668
	11,600	e	Proto Corp		176
	33,655,000		PT Bhakti Investama Tbk		1,737
	2,385,600		PT Global MediaCom Tbk		572
	217,500		PT Media Nusantara Citra Tbk		63
	63,447,361	*	PT MNC Sky Vision Tbk		14,364
	413,217	e	PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		1,745
	4,920,000		PT Surya Citra Media Tbk		1,408
	291,921		Publicis Groupe S.A.		19,593
	92,136		Quebecor, Inc		3,905
	213,601	*,e	RCS MediaGroup S.p.A.		260
	125,683		REA Group Ltd		3,633
	35,717	*,e	ReachLocal, Inc		534
	60,186	*	Reading International, Inc		337
	2,320,345		Reed Elsevier NV		39,779
	6,821,911		Reed Elsevier plc		81,164
	552,058	e	Regal Entertainment Group (Class A)		9,203
	37,716	*	Rentrak Corp		829
	243,591		Rightmove plc		6,597
	17,581		Saga Communications, Inc		813
	24,038		Salem Communications		191
	96,021	e	Sanoma-WSOY Oyj		883
	59,900		Saraiva S.A. Livreiros Editores		833
	44,910	e	SBS Media Holdings Co Ltd		238
	109,932		Schibsted ASA		4,919
	139,051	e	Scholastic Corp		3,706
	456,892		Scripps Networks Interactive (Class A)		29,396
	119,616		SES Global S.A.		3,752
	681,973	*,e	Shaw Communications, Inc (B Shares)		16,891
	99,000	e	Shochiku Co Ltd		1,016
	36,289	*	Shutterstock, Inc		1,632
	189,724		Sinclair Broadcast Group, Inc (Class A)		3,840
	257,038	e	Singapore Press Holdings Ltd		930
	540,000		SinoMedia Holding Ltd		310
	9,519,894	e	Sirius XM Radio, Inc		29,321
	954,729		Sky Network Television Ltd		4,236
	5,348		Sky Perfect Jsat Corp		2,532
	15,502	*,e	SM Entertainment Co		658
	2,680,000	*	SMI Corp Ltd		60
	139,667		Societe Television Francaise 1		1,567

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	746,024		Southern Cross Media Group	$	1,218
	528,682	*	Starz-Liberty Capital		11,710
	18,404	*	Stroer Out-of-Home Media AG.		189
	613,718		STW Communications Group Ltd		938
	164,214		Sun TV Network Ltd		1,183
	47,000		T4F Entretenimento S.A.		204
	709,670	*,e	Telecom Italia Media S.p.A.		89
	36,368		Telenet Group Holding NV		1,802
	645,947	e	Television Broadcasts Ltd		4,900
	2,082,630	*,e	Ten Network Holdings Ltd		696
	69,807	*,e	Tera Resource Co Ltd		75
	864,524	e	Thomson Corp		28,080
	511,746	e	Thomson Corp (Toronto)		16,604
	1,770,340		Time Warner Cable, Inc		170,059
	4,249,086	e	Time Warner, Inc		244,832
	180,000		Toei Animation Co Ltd		4,384
	612,885	e	Toei Co Ltd		4,422
	80,317		Toho Co Ltd		1,679
	22,600		Tohokushinsha Film Corp		185
	69,900		Tokyo Broadcasting System, Inc		1,081
	21,800		TV Asahi Corp		418
	2,652,463	e	TV Azteca S.A. de C.V.		1,881
	17,800		TV Tokyo Corp		209
	313,629		TVN S.A.		919
	347,956		United Business Media Ltd		3,733
	143,246	*,e	Usen Corp		237
	141,868	e	Valassis Communications, Inc		4,238
	8,329	e	Value Line, Inc		78
	3,456,778		Viacom, Inc (Class B)		212,834
	750,626	e	Virgin Media, Inc		36,758
	4,882,400	*,e	Viva China Holdings Ltd		283
	4,114,000	e	VODone Ltd		303
	9,005,451		Walt Disney Co		511,510
	5,796	e	Washington Post Co (Class B)		2,591
	1,361,867		West Australian Newspapers Holdings Ltd		2,865
	82,565		Wolters Kluwer NV		1,804
	100,730		Woongjin Thinkbig Co Ltd		789
	132,484	e	World Wrestling Entertainment, Inc (Class A)		1,168
	2,741,825		WPP plc		43,817
	4,998	e	YG Entertainment, Inc		328
	3,966,600	*	Zee Entertainment Enterprises Ltd		4,905
	695,077		ZEE Telefilms Ltd		2,697
	28,800		Zenrin Co Ltd		402
			TOTAL MEDIA		3,767,007
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.7%
	10,600	*,e	3-D Matrix Ltd		810
	18,156	*,e	AB Science S.A.		439
	5,419,366		AbbVie, Inc		221,002
	404,233		Abcam plc		2,749
	27,840	*	Ablynx NV		243

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	258,954	*,e	Achillion Pharmaceuticals, Inc	$	2,263
	227,462	*	Acorda Therapeutics, Inc		7,286
	270,484	e	Acrux Ltd		1,098
	895,432	*	Actavis, Inc		82,478
	193,958		Actelion Ltd		10,547
	49,050	*,e	Active Biotech AB		482
	20,264	*,e	Acura Pharmaceuticals, Inc		43
	496,915		Adcock Ingram Holdings Ltd		3,273
	87,000	*	Adimmune Corp		107
	104,710	*,e	Aegerion Pharmaceuticals, Inc		4,224
	10,965	*,e	Affymax, Inc		15
	423,974	*,e	Affymetrix, Inc		2,001
	130,372	*,e	Agenus, Inc		507
	1,207,790		Agilent Technologies, Inc		50,691
	468,750	*,e	Akorn, Inc		6,483
	1,546,543	*	Alexion Pharmaceuticals, Inc		142,498
	44,527	*	Algeta ASA		1,500
	9,265		ALK-Abello AS		671
	875,169	*	Alkermes plc		20,750
	2,146,674		Allergan, Inc		239,633
	186,695	*,e	Alnylam Pharmaceuticals, Inc		4,550
	156,028	*,e	AMAG Pharmaceuticals, Inc		3,721
	3,846,458		Amgen, Inc		394,301
	100,807	*,e	Amicus Therapeutics, Inc		320
	76,413	*,e	Ampio Pharmaceuticals, Inc		349
	52,639	*,e	Anacor Pharmaceuticals, Inc		340
	443,586		Apex Biotechnology Corp		1,167
	911,533	*,e	Arena Pharmaceuticals, Inc		7,484
	621,277	*	Ariad Pharmaceuticals, Inc		11,239
	251,653	*	Arqule, Inc		652
	407,888	*,e	Array Biopharma, Inc		2,007
	51,000		ASKA Pharmaceutical Co Ltd		390
	486,847		Aspen Pharmacare Holdings Ltd		10,119
	620,639		Astellas Pharma, Inc		33,494
	324,548	*,e	Astex Pharmaceuticals		1,447
	881,348		AstraZeneca plc		44,209
	728,125	e	AstraZeneca plc (ADR)		36,392
	209,884		Aurobindo Pharma Ltd		563
	242,337	*	Auxilium Pharmaceuticals, Inc		4,188
	466,613	*,e	AVANIR Pharmaceuticals, Inc		1,278
	172,503	*,e	AVEO Pharmaceuticals, Inc		1,268
	8,005	*	Basilea Pharmaceutica		485
	30,332	*	Bavarian Nordic AS		357
	2,717,688		Bayer AG.		280,862
	39,039	*,e	BG Medicine, Inc		73
	124,711		Biocon Ltd		628
	181,812	*,e	BioCryst Pharmaceuticals, Inc		216
	150,813	*,e	BioDelivery Sciences International, Inc		635
	32,074		Biogaia AB (B Shares)		1,083
	1,733,976	*	Biogen Idec, Inc		334,501
	419,220	*	BioMarin Pharmaceuticals, Inc		26,101
	59,632	*	Bio-Rad Laboratories, Inc (Class A)		7,514

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	20,307	*,e	Biospecifics Technologies Corp	$	346
	17,687		Biota Pharmaceuticals, Inc		72
	6,511		Biotest AG. (Preference)		446
	385,090	*	Biotie Therapies Oyj		178
	105,079	*,e	Biotime, Inc		401
	6,201,910	*	Bioton S.A.		95
	371,429	*	Biovail Corp (Toronto)		27,883
	8,641,609	*	Biovitrum AB		55,544
	10,996		Boiron S.A.		570
	4,430,408		Bristol-Myers Squibb Co		182,488
	225,168	*	Bruker BioSciences Corp		4,301
	434,480	*	BTG plc		2,355
	33,570		Bukwang Pharmaceutical Co Ltd		458
	220,217	*,e	Cadence Pharmaceuticals, Inc		1,473
	265,002	*	Cambrex Corp		3,389
	2,562,492	*	Celgene Corp		297,018
	343,392	*	Celldex Therapeutics, Inc		3,976
	12,283	*,e	Celltrion Pharm Inc		180
	80,994	e	Celltrion, Inc		3,893
	8,868	*	Cempra, Inc		60
	237,182	*,e	Cepheid, Inc		9,101
	1,050,000	*	CGN Mining Co Ltd		101
	122,008	*	Charles River Laboratories International, Inc		5,401
	11,193	*	ChemoCentryx, Inc		155
	67,000		China Chemical & Pharmaceutical Co Ltd		45
	357,000	e	China Medical System Holdings Ltd		362
	1,252,000	*,e	China Pharmaceutical Group Ltd		534
	790,000	e	China Shineway Pharmaceutical Group Ltd		1,421
	40,300		Chong Kun Dang Pharm Corp		1,906
	7,961	e	Choongwae Pharma Corp		107
	250,983		Chugai Pharmaceutical Co Ltd		5,593
	495,039		Cipla Ltd		3,456
	508,587		Cipla Medpro South Africa Ltd		515
	6,858,340		CK Life Sciences International Holdings, Inc		593
	33,517	*	Clal Biotechnology Industries Ltd		79
	35,477	*	Clavis Pharma ASA		42
	59,530	*,e	Clovis Oncology, Inc		1,707
	23,000	e	CMIC Co Ltd		459
	118,213	*,e	Codexis, Inc		283
	143,774	*,e	Corcept Therapeutics, Inc		288
	55,768	*	Cornerstone Therapeutics, Inc		394
	78,617	*,e	Coronado Biosciences, Inc		764
	82,968	*	Covance, Inc		6,166
	903,088		CSL Ltd		55,821
	13,119	*,e	CTC BIO, Inc		385
	241,498	*,e	Cubist Pharmaceuticals, Inc		11,307
	41,432	*,e	Cumberland Pharmaceuticals, Inc		206
	309,019	*,e	Curis, Inc		1,014
	189,445	*,e	Cytori Therapeutics, Inc		475
	23,542		Daewoong Pharmaceutical Co Ltd		1,290
	937,078	e	Daiichi Sankyo Co Ltd		18,088
	417,225	e	Dainippon Sumitomo Pharma Co Ltd		7,382

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	696,000		Dawnrays Pharmaceutical Holdings Ltd	$	186
	585,376	*,e	Dendreon Corp		2,769
	198,792	*,e	Depomed, Inc		1,167
	163,975	*,e	Discovery Laboratories, Inc		375
	3,772		Divi S Laboratories Ltd		69
	12,755	m	Dong-A Pharmaceutical Co Ltd		1,422
	173,788		Dr Reddy’s Laboratories Ltd		5,647
	2,400	*,e	Durata Therapeutics, Inc		22
	356,367	*	Dyax Corp		1,554
	492,496	*,e	Dynavax Technologies Corp		1,093
	12,229		Egis Gyogyszergyar Rt		928
	95,153		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		135
	303,963	e	Eisai Co Ltd		13,618
	117,729	*	Elan Corp plc		1,364
	126,965	*,e	Elan Corp plc (ADR)		1,498
	3,098,509		Eli Lilly & Co		175,964
	159,850	*	Emergent Biosolutions, Inc		2,235
	164,098	*	Endo Pharmaceuticals Holdings, Inc		5,048
	122,456	*,e	Endocyte, Inc		1,525
	5,745	*,e	Enzo Biochem, Inc		14
	165,494	e	Enzon Pharmaceuticals, Inc		629
	266	e	EPS Co Ltd		395
	21,244		Eurofins Scientific		4,467
	128,488	*,e	Evolutec Group plc		305
	134,852	*,e	Evotec AG.		390
	222,851	*	Exact Sciences Corp		2,184
	639,541	*,e	Exelixis, Inc		2,955
	3,060,000	*	Extrawell Pharmaceutical Holdings Ltd		272
	289,555		FAES FARMA S.A.		745
	11,152		FDC Ltd		19
	94,999	*,e	Fluidigm Corp		1,758
	704,263	*	Forest Laboratories, Inc		26,790
	44,000	*	Fuji Pharma Co Ltd		883
	28,351	*	Furiex Pharmaceuticals Inc		1,063
	90,000		Fuso Pharmaceutical Industries Ltd		405
	27,178	*,e	Galapagos NV		666
	52,839	*	Genmab AS		1,222
	102,387	*,e	Genomic Health, Inc		2,895
	5,351,139	*,e	Genomma Lab Internacional S.A. de C.V.		13,088
	121,658		Genus plc		2,919
	468,860	*,e	Geron Corp		502
	87,957		Gerresheimer AG.		5,060
	9,683,590	*	Gilead Sciences, Inc		473,818
	4,382,805		GlaxoSmithKline plc		102,632
	19,200	*,e	Golf Trust Of America, Inc		95
	6,768		Green Cross Corp		944
	17,000		Green Cross Holdings Corp		269
	370,779	*	Grifols S.A.		13,771
	2,713	*	Grifols S.A. (Class B)		78
	98,717	*,e	GTx, Inc		410
	300,269	*,e	Halozyme Therapeutics, Inc		1,733

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,910	*,e	Han All Pharmarceutical Co	$	210
	3,490		Handok Pharmaceuticals Co Ltd		66
	6,486	*	Hanmi Pharm Co Ltd		937
	92,970	*	Harvard Bioscience, Inc		525
	12,945		Haw Par Corp Ltd		81
	203,857		Hikma Pharmaceuticals plc		3,208
	56,431	e	Hisamitsu Pharmaceutical Co, Inc		3,057
	50,244	e	Hi-Tech Pharmacal Co, Inc		1,664
	200,111	*,e	Horizon Pharma, Inc		542
	209,652	*	Hospira, Inc		6,883
	3,669,600		Hua Han Bio-Pharmaceutical Holdings Ltd		1,061
	6,894	*	Hyperion Therapeutics, Inc		178
	352,803	*,e	Idenix Pharmaceuticals, Inc		1,256
	49,600	e	Il Dong Pharmaceutical Co Ltd		501
	463,853	*,e	Illumina, Inc		25,048
	2,924	e	Ilsung Pharmaceuticals Co Ltd		208
	18,415	*,e	Ilyang Pharmaceutical Co Ltd		570
	293,004	*,e	ImmunoCellular Therapeutics Ltd		803
	303,624	*,e	Immunogen, Inc		4,876
	253,789	*,e	Immunomedics, Inc		612
	235,675	*	Impax Laboratories, Inc		3,639
	246,168	*,e	Incyte Corp		5,763
	101,785	*,e	Infinity Pharmaceuticals, Inc		4,933
	68,637	*	Innocell Corp		171
	10,226	*,e	Intercept Pharmaceuticals, Inc		382
	298,163	*,e	InterMune, Inc		2,698
	17,937		Ipca Laboratories Ltd		175
	37,753		Ipsen		1,351
	265,919	*,e	Ironwood Pharmaceuticals, Inc		4,864
	358,414	*,e	Isis Pharmaceuticals, Inc		6,072
	420,221	*	Jazz Pharmaceuticals plc		23,495
	12,900	e	JCR Pharmaceuticals Co Ltd		342
	10,950		Jeil Pharmaceutical Co		171
	11,393,834		Johnson & Johnson		928,939
	153,521		Kaken Pharmaceutical Co Ltd		2,793
	273,709	*,e	Keryx Biopharmaceuticals, Inc		1,927
	72,200		Kissei Pharmaceutical Co Ltd		1,531
	3,984	e	Kolon Life Science, Inc		316
	56,785	*,e	Komipharm International Co Ltd		481
	257,330		Kwang Dong Pharmaceutical Co Ltd		1,504
	111,136		Kyorin Co Ltd		2,698
	825,187		Kyowa Hakko Kogyo Co Ltd		9,355
	10,649	*,e	KYTHERA Biopharmaceuticals, Inc		259
	142,957		Laboratorios Almirall S.A.		1,791
	25,509	e	Laboratorios Farmaceuticos Rovi S.A		226
	54,057	*,e	Lannett Co, Inc		546
	743,018	*	Lexicon Pharmaceuticals, Inc		1,620
	18,990	*,e	LG Life Sciences Ltd		969
	396,770	*	Life Technologies Corp		25,643
	66,749	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,779
	1,524,000		Lijun International Pharmaceutical Holding Ltd		465
	175,900		Livzon Pharmaceutical, Inc		872

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,024,991		Lonza Group AG.	$	66,641
	157,795	*	Luminex Corp		2,607
	461,453		Lupin Ltd		5,342
	528,573	*,e	MannKind Corp		1,792
	110,264		Maxygen, Inc		266
	565,460		Meda AB (A Shares)		6,701
	264,376	*	Medicines Co		8,835
	75,000	*	Medigen Biotechnology Corp		501
	8,205	*,e	Medipost Co Ltd		671
	919,709	*	Medivation, Inc		43,015
	28,097	*,e	Medivir AB		349
	30,336	e	Medy-Tox, Inc		3,120
	13,824,832		Merck & Co, Inc		611,472
	229,403		Merck KGaA		34,650
	1,270		Merck Ltd		15
	56,234	*,e	Merrimack Pharmaceuticals, Inc		343
	150,375	*,e	Mesoblast Ltd		965
	145,938	*,e	Mettler-Toledo International, Inc		31,117
	71,516		Mochida Pharmaceutical Co Ltd		923
	258,855	*	Momenta Pharmaceuticals, Inc		3,453
	29,508	*	Morphosys AG.		1,208
	22,167,242	*,a,m	MPM Bioventures II		1,639
	2,750,039	*	Mylan Laboratories, Inc		79,586
	119,915	*	Myriad Genetics, Inc		3,046
	400,452	*,e	Nektar Therapeutics		4,405
	257,727	*,e	Neurocrine Biosciences, Inc		3,129
	58,578	*,e	NewLink Genetics Corp		719
	33,100		Nichi-iko Pharmaceutical Co Ltd		760
	324,000		Nippon Shinyaku Co Ltd		4,614
	44,982	*,e	Novacea, Inc		215
	5,151,211		Novartis AG.		367,137
	118,631		Novartis AG. (ADR)		8,451
	1,554		Novartis India Ltd		17
	392,655	*,e	Novavax, Inc		895
	851,632	e	Novo Nordisk AS (Class B)		137,268
	366,932	*,e	NPS Pharmaceuticals, Inc		3,739
	138,831	*	Obagi Medical Products, Inc		2,742
	122,103	*,e	Omeros Corp		503
	47,328	*,e	OncoGenex Pharmaceutical, Inc		536
	164	*,e	OncoTherapy Science, Inc		521
	191,642	*,e	Oncothyreon, Inc		399
	103,295	e	Ono Pharmaceutical Co Ltd		6,384
	248,380	*	Onyx Pharmaceuticals, Inc		22,071
	373,983	*,e	Opko Health, Inc		2,853
	163,075	*,e	Optimer Pharmaceuticals, Inc		1,941
	189,272		Orchid Chemicals & Pharmaceuticals Ltd		219
	320,985	*,e	Orexigen Therapeutics, Inc		2,006
	146,630	e	Orion Oyj (Class B)		3,858
	57,476	*,e	Osiris Therapeutics, Inc		598
	715,454		Otsuka Holdings KK		24,833
	243,627	*	Pacific Biosciences of California, Inc		607
	66,774	*,e	Pacira Pharmaceuticals, Inc		1,927

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	152,145	e	Pain Therapeutics, Inc	$	522
	19,800	*	Paladin Labs, Inc		920
	283,550	*	Parexel International Corp		11,203
	709,569	e	PDL BioPharma, Inc		5,187
	803,544		PerkinElmer, Inc		27,031
	624,937		Perrigo Co		74,199
	40,011,587		Pfizer, Inc		1,154,734
	250,747	*,e	Pharmacyclics, Inc		20,163
	317,591	*,e	Pharmaxis Ltd		109
	33,190	*,e	Pharmicell Co Ltd		144
	227,865	*	Phytohealth Corp		385
	118,256		Piramal Healthcare Ltd		1,330
	142,689	*,e	Pozen, Inc		752
	133,786	*,e	Progenics Pharmaceuticals, Inc		721
	51,446,000		PT Kalbe Farma Tbk		6,570
	37,483	*	Qiagen N.V.		783
	593,063	*,e	Qiagen N.V. (NASDAQ)		12,502
	649,168	e	Questcor Pharmaceuticals, Inc		21,124
	187,593	*	Ranbaxy Laboratories Ltd		1,516
	208,476	*,e	Raptor Pharmaceutical Corp		1,220
	254,874		Recordati S.p.A.		2,311
	162,285	*,e	Regeneron Pharmaceuticals, Inc		28,627
	28,624	*	Regulus Therapeutics, Inc		222
	108,472	*	Repligen Corp		750
	58,448	*,e	Repros Therapeutics, Inc		941
	294,792	*	Rigel Pharmaceuticals, Inc		2,002
	80,430	*,m	RNL BIO Co Ltd		96
	1,295,250		Roche Holding AG.		301,953
	106,000		Rohto Pharmaceutical Co Ltd		1,474
	35,995	*,e	Sagent Pharmaceuticals		632
	155,326	*	Salix Pharmaceuticals Ltd		7,950
	189,345	*,e	Sangamo Biosciences, Inc		1,810
	2,169,799		Sanofi-Aventis		221,288
	496,722	*	Santarus, Inc		8,608
	85,769		Santen Pharmaceutical Co Ltd		3,967
	20,200		Sawai Pharmaceutical Co Ltd		2,400
	4,722		Schweizerhall Holding AG.		481
	319,285	*	Sciclone Pharmaceuticals, Inc		1,469
	325,800		Scinopharm Taiwan Ltd		796
	336,156	*,e	Seattle Genetics, Inc		11,937
	30,370	*,e	Seegene, Inc		1,884
	259,800		Seikagaku Corp		2,818
	398,865	*,e	Sequenom, Inc		1,655
	360,000		Shandong Luoxin Pharmacy Stock Co Ltd		478
	552,947		Shionogi & Co Ltd		11,206
	448,903		Shire Ltd		13,671
	6,151		Siegfried Holding AG.		801
	125,647	*,e	SIGA Technologies, Inc		450
	3,790,400	e	Sihuan Pharmaceutical Holdings		1,879
	5,080,000		Sino Biopharmaceutical		3,554
	4,254,176	*,a,m	Skyline Venture Fund II Ltd		246
	976,029	*,m	Skyline Venture Fund III Ltd		67

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,700	*	Sosei Group	$	467
	224,838	e	Spectrum Pharmaceuticals, Inc		1,677
	73,983		Stada Arzneimittel AG.		3,035
	5,318		Stallergenes		332
	457,100		Standard Chemical & Pharma		420
	273,260	*	Starpharma Holdings Ltd		310
	108,172		Strides Arcolab Ltd		1,737
	52,702	*,e	Sucampo Pharmaceuticals, Inc (Class A)		345
	127,373	*	Sun Pharmaceutical Industries Ltd		268
	791,320		Sun Pharmaceuticals Industries Ltd		11,936
	93,356	*,e	Sunesis Pharmaceuticals, Inc		511
	8,932	*,e	Supernus Pharmaceuticals, Inc		50
	41,138	*	Synageva BioPharma Corp		2,259
	183,602	*,e	Synergy Pharmaceuticals, Inc		1,114
	126,860	*,e	Synta Pharmaceuticals Corp		1,091
	45,400		Taisho Pharmaceutical Holdings Co Ltd		3,218
	69,500	e	Takara Bio, Inc		1,022
	960,134	e	Takeda Pharmaceutical Co Ltd		52,599
	478,100		Tanabe Seiyaku Co Ltd		7,331
	113,361	*	Targacept, Inc		485
	12,618		Tecan Group AG.		1,183
	113,156		Techne Corp		7,678
	10,100	*,e	TESARO, Inc		222
	425,987		Teva Pharmaceutical Industries Ltd		16,933
	1,212,068		Teva Pharmaceutical Industries Ltd (ADR)		48,095
	214,426	*,e	Theravance, Inc		5,065
	1,825,111		Thermo Electron Corp		139,603
	265,759	*,e	Threshold Pharmaceuticals, Inc		1,225
	72,658	*,e	ThromboGenics NV		3,501
	472,000	e	Tong Ren Tang Technologies Co Ltd		1,607
	12,400		Torii Pharmaceutical Co Ltd		309
	3,100		Torrent Pharmaceuticals Ltd		40
	9,900		Towa Pharmaceutical Co Ltd		523
	22,411	*,e	Transgene S.A.		238
	134,374	*,e	Trius Therapeutics, Inc		919
	121,133		Tsumura & Co		4,429
	180,139		TTY Biopharm Co Ltd		593
	441,231		UCB S.A.		28,225
	6,460		Unichem Laboratories Ltd		21
	867,500	*,e	United Laboratories Ltd		386
	126,253	*,e	United Therapeutics Corp		7,685
	463,879	*,e	Vanda Pharmaceuticals, Inc		1,818
	445,681	*	Vectura Group plc		615
	80,700	*,e	Ventrus Biosciences, Inc		241
	14,648	*,e	Verastem, Inc		141
	609,261	*	Vertex Pharmaceuticals, Inc		33,497
	272,991	*,e	Vical, Inc		1,086
	9,165		Virbac S.A.		2,111
	12,806	*	ViroMed Co Ltd		409
	317,239	*	Viropharma, Inc		7,982
	358,025	*,e	Vivus, Inc		3,938
	1,836,937		Warner Chilcott plc		24,890

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	236,269	*	Waters Corp	$	22,188
	528,000		Winteam Pharmaceutical Group Ltd		241
	62,200	*	Wockhardt Ltd		2,289
	201,628	*,e	Xenoport, Inc		1,442
	330,777	*,e	XOMA Corp		1,154
	11,256		Yuhan Corp		1,922
	214,410	*,e	Yungjin Pharmaceutical Co Ltd		354
	170,000		YungShin Global Holding Corp		236
	352,675	*,e	Zeltia S.A.		579
	23,000		Zeria Pharmaceutical Co Ltd		364
	254,851	*,e	ZIOPHARM Oncology, Inc		466
	830,449	*,e	Zoetis Inc		27,737
	169,791	*,e	Zogenix, Inc		306
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		8,690,178
REAL ESTATE - 3.7%
	662,039		Abacus Property Group		1,484
	169,366		Acadia Realty Trust		4,703
	475	*	Activia Properties Inc		4,567
	128,366		Acucap Properties Ltd		697
	5,550	*	Advance Residence Investment Corp		14,893
	47,555		Aeon Mall Co Ltd		1,452
	104,295	*	Africa Israel Investments Ltd		265
	14,138	*	Africa Israel Properties Ltd		161
	163,728		AG Mortgage Investment Trust		4,170
	2,095,400	e	Agile Property Holdings Ltd		2,507
	62,809		Agree Realty Corp		1,891
	362,653		AIMS AMP Capital Industrial REIT		461
	31,167	*	Airport City Ltd		169
	52,700		Airport Facilities Co Ltd		367
	39,438		Akmerkez Gayrimenkul Yatirim Ortakligi AS		449
	176,908	*	Alexander & Baldwin, Inc		6,324
	7,725		Alexander’s, Inc		2,547
	125,437		Alexandria Real Estate Equities, Inc		8,904
	345,584		Aliansce Shopping Centers S.A.		4,104
	1,804,680		Allan Gray Property Trust		1,754
	11,461,693		Allco Commercial Real Estate Investment Trust		13,043
	103,217		Allied Properties Real Estate Investment Trust		3,356
	17,419		Allreal Holding AG.		2,532
	194,727		Alony Hetz Properties & Investments Ltd		1,234
	5,797	*	AL-ROV Israel Ltd		162
	6,102		Alrov Properties and Lodgings Ltd		133
	363,269		Alstria Office REIT-AG.		4,093
	3,813,300		Amata Corp PCL (Foreign)		3,123
	3,762,676		Amer Group Holding		310
	175,930		American Assets Trust,Inc		5,632
	346,054		American Campus Communities, Inc		15,690
	1,088,119		American Capital Agency Corp		35,669
	282,928		American Capital Mortgage, Inc		7,314
	2,786,410		American Tower Corp		214,331
	73,016		Amot Investments Ltd		194
	1,787,506		AMP NZ Office Trust		1,548

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,838		AmREIT, Inc (Class B)	$	444
	1,029,713		Anant Raj Industries Ltd		1,194
	10,187		ANF Immobilier		283
	2,565,049		Annaly Capital Management, Inc		40,759
	481,549		Anworth Mortgage Asset Corp		3,048
	554,380		Apartment Investment & Management Co (Class A)		16,997
	194,882		Apollo Commercial Real Estate Finance, Inc		3,428
	25,068		Ares Commercial Real Estate Corp		424
	1,366,880	*	ARMOUR Residential REIT, Inc		8,926
	99,951		Artis Real Estate Investment Trust		1,584
	640,000		Ascendas Hospitality Trust		532
	719,000		Ascendas India Trust		478
	2,577,619		Ascendas Real Estate Investment Trust		5,416
	838,586		Ascott Residence Trust		934
	201,493		Ashford Hospitality Trust, Inc		2,490
	5,329,800		Asian Property Development PCL - NVDR		1,717
	1,182,600		Asian Property Development PCL (Foreign)		381
	782,112		Aspen Group		171
	210,512		Associated Estates Realty Corp		3,924
	439,315		Atrium European Real Estate Ltd		2,534
	747,537		Australand Property Group		2,688
	58,254	*	AV Homes, Inc		777
	703,684		AvalonBay Communities, Inc		89,136
	9,283,423		Ayala Land, Inc		7,454
	74,082		Babcock & Brown Japan Property Trust		281
	9,897,400	*	Bangkokland PCL		668
	1,434		Bayside Land Corp		295
	37,175		Befimmo SCA Sicafi		2,365
	2,902,000	e	Beijing Capital Land Ltd		1,071
	706,000		Beijing North Star Co		167
	3,893,950	*	Belle Corp		544
	1,301,413		Beni Stabili S.p.A.		777
	212,548		Big Yellow Group plc		1,146
	191,830		BioMed Realty Trust, Inc		4,144
	806	*	BLife Investment Corp		3,843
	44,459		Boardwalk Real Estate Investment Trust		2,735
	679,894		Boston Properties, Inc		68,710
	998,456		BR Malls Participacoes S.A.		12,432
	781,511		BR Properties S.A.		8,663
	178,038		Brandywine Realty Trust		2,644
	482,900		Brasil Brokers Participacoes S.A.		1,721
	101,847		BRE Properties, Inc (Class A)		4,958
	1,321,444		British Land Co plc		10,939
	557,576		Brookfield Asset Management, Inc		20,363
	6,009	*	Brookfield Multiplex Group		538
	42,455	e	Brookfield Office Properties, Inc		729
	552,705	e	Brookfield Office Properties, Inc (Toronto)		9,489
	1,093,722		Bunnings Warehouse Property Trust		2,714
	12,923,188	e	C C Land Holdings Ltd		3,995
	90,089	e	CA Immobilien Anlagen AG.		1,188
	789,000		Cache Logistics Trust		831
	80,775		Calloway Real Estate Investment Trust		2,328

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,656,780		Cambridge Industrial Trust	$	1,695
	331,795		Camden Property Trust		22,788
	186,145		Campus Crest Communities, Inc		2,587
	123,591		Canadian Apartment Properties REIT		3,068
	47,356		Canadian Real Estate Investment Trust		2,096
	749,400		CapitaCommercial Trust		960
	1,123,767		Capital & Counties Properties		4,657
	524,878		Capital Lease Funding, Inc		3,343
	2,886,534		Capital Property Fund		3,500
	1,498,404		CapitaLand Ltd		4,286
	348,197		CapitaMall Trust		588
	1,013,480	e	CapitaMalls Asia Ltd		1,681
	432,100		CapitaMalls Malaysia Trust		262
	530,000		CapitaRetail China Trust		748
	331,879		Capstead Mortgage Corp		4,255
	402,224	e	Castellum AB		5,736
	3,476,000		Cathay Real Estate Development Co Ltd		1,933
	238,824		CBL & Associates Properties, Inc		5,636
	1,493,292	*	CBRE Group, Inc		37,706
	861,000		CDL Hospitality Trusts		1,425
	222,161		Cedar Shopping Centers, Inc		1,357
	1,016,000		Central China Real Estate Ltd		326
	193,800		Central Pattana PCL (Foreign)		630
	2,575	*,m	Centro Properties Group		0	^
	35,296,977		Century Properties Group, Inc		1,834
	2,315,726		CFS Gandel Retail Trust		4,854
	953,000		CH Karnchang PCL		790
	273,972		Challenger Diversified Property Group		770
	4,064,636		Champion Real Estate Investment Trust		2,113
	317,845		Charter Hall Group		1,271
	90,300		Chartwell Retirement Residences		985
	69,235		Chatham Lodging Trust		1,219
	278,760		Chesapeake Lodging Trust		6,395
	5,710,126		Cheuk Nang Holdings Ltd		4,363
	1,214,607		Cheung Kong Holdings Ltd		17,994
	6,343,043		Chimera Investment Corp		20,234
	1,300,000		China Aoyuan Property Group Ltd		279
	9,385,021	*,e	China New Town Development Co Ltd		728
	7,655,694		China Overseas Land & Investment Ltd		21,173
	652,000	*	China Properties Group Ltd		193
	3,162,294		China Resources Land Ltd		8,867
	2,311,000		China SCE Property Holdings Ltd		560
	3,902,000	e	China South City Holdings Ltd		655
	2,058,978		China Vanke Co Ltd		4,025
	335,500		Chinese Estates Holdings Ltd		546
	573,080		Chong Hong Construction Co		1,894
	130,619	e	City Developments Ltd		1,198
	382,240	e	Citycon Oyj		1,093
	20,197		Cofinimmo		2,313
	26,001	*	Colonia Real Estate AG.		154
	339,587		Colonial Properties Trust		7,678
	303,238		Colony Financial, Inc		6,732

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	81,098		Cominar Real Estate Investment Trust	$	1,843
	4,342,638		Commonwealth Property Office Fund		5,027
	18,420		Consolidated-Tomoka Land Co		723
	91,624	*	Conwert Immobilien Invest AG.		1,000
	106,276		Coresite Realty		3,718
	11,863		Corio NV		554
	189,700		Corp Inmobiliaria Vesta SAB de C.V.		412
	230,102		Corporate Office Properties Trust		6,139
	11,584,882	*,e	Country Garden Holdings Co Ltd		5,809
	339,250		Cousins Properties, Inc		3,627
	1,568		Crescendo Investment Corp		1,530
	280,150		CreXus Investment Corp		3,648
	24,000		Crombie Real Estate Investment Trust		350
	6,858,943	e	CSI Properties Ltd		319
	683,701		CubeSmart		10,802
	31,356		CyrusOne, Inc		716
	615,315		CYS Investments, Inc		7,224
	1,413		DA Office Investment Corp		7,538
	109,800		Daibiru Corp		1,298
	415,000		Daikyo, Inc		1,461
	2,295,900		Daiman Development BHD		1,475
	101,665		Daito Trust Construction Co Ltd		8,724
	578,879		Daiwa House Industry Co Ltd		11,322
	2,527,239		DB RREEF Trust		2,746
	1,000,071		DCT Industrial Trust, Inc		7,401
	1,006,832		DDR Corp		17,539
	409,483		Delta Corp Ltd		310
	168,554		Derwent London plc		5,523
	110,768		Deutsche Euroshop AG.		4,487
	207,999		Deutsche Wohnen AG.		3,784
	735,939		DiamondRock Hospitality Co		6,852
	70,414		DIC Asset AG.		704
	323,070		Digital Realty Trust, Inc		21,617
	8,002,375		DLF Ltd		34,683
	172,275		Douglas Emmett, Inc		4,295
	41,433		Douja Promotion Groupe Addoha S.A.		283
	636,999		Duke Realty Corp		10,816
	109,600		Dundee International Real Estate Investment Trust		1,148
	56,394		Dundee Real Estate Investment Trust		2,035
	218,285		DuPont Fabros Technology, Inc		5,298
	192,283		Dynex Capital, Inc		2,054
	1,169,800		Eastern & Oriental BHD		604
	127,231		EastGroup Properties, Inc		7,405
	384,647		Education Realty Trust, Inc		4,050
	827,524		Emira Property Fund		1,314
	2,178,031		Emlak Konut Gayrimenkul Yatiri		3,481
	1,715,333		Emperor International Holdings		468
	175,891		Entertainment Properties Trust		9,155
	196,284		Equity Lifestyle Properties, Inc		15,075
	197,047		Equity One, Inc		4,723
	470,077		Equity Residential		25,882
	120,924		Essex Property Trust, Inc		18,209

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	40,462		Eurobank Properties Real Estate Investment Co	$	302
	49,434		Eurocommercial Properties NV		1,811
	7,899,000	e	Evergrande Real Estate Group		3,201
	174,742		Excel Trust, Inc		2,385
	864,903		Extra Space Storage, Inc		33,965
	168,865	e	Fabege AB		1,726
	3,804,000		Fantasia Holdings Group Co Ltd		575
	942,000		Far East Hospitality Trust		893
	1,082,200		Farglory Land Development Co Ltd		1,993
	105,274	*,e	Fastighets AB Balder		743
	102,099		Federal Realty Investment Trust		11,031
	899,989		Federation Centres		2,211
	645,771	*	FelCor Lodging Trust, Inc		3,842
	1,010,700		Fibra Uno Administracion S.A. de C.V.		3,335
	8,000,000		Filinvest Development Corp		1,137
	27,839,000		Filinvest Land, Inc		1,353
	123,480	e	First Capital Realty, Inc		2,303
	462,620		First Industrial Realty Trust, Inc		7,925
	179,075		First Potomac Realty Trust		2,656
	1,071,000		First Real Estate Investment Trust		1,080
	34,210	*	FirstService Corp		1,141
	249,775	e	FKP Property Group		413
	2,316		Fonciere Des Regions		182
	921,819	*	Forest City Enterprises, Inc (Class A)		16,381
	147,727	*,e	Forestar Real Estate Group, Inc		3,229
	300,072		Franklin Street Properties Corp		4,387
	5,989,800		Franshion Properties China Ltd		1,964
	1,326,000		Frasers Centrepoint Trust		2,288
	310	*	Frontier Real Estate Investment Corp		3,541
	123	*	Fukuoka REIT Corp		1,114
	109,949	*	GAGFAH S.A.		1,351
	207,300		Gazit Globe Ltd		2,829
	14,926		Gazit, Inc		397
	1,858		Gecina S.A.		216
	2,200,425		General Growth Properties, Inc		43,744
	69,900	*	General Shopping Brasil S.A.		436
	87,995		Getty Realty Corp		1,778
	50,301		Gladstone Commercial Corp		979
	675,381		Glimcher Realty Trust		7,834
	4,825,929		Global Logistic Properties		10,249
	456		Global One Real Estate Investment Corp		3,520
	26,153,000	*	Global-Estate Resorts, Inc		1,487
	136,993	*	Globe Trade Centre S.A.		322
	4,030,000	*,e	Glorious Property Holdings Ltd		641
	406	*	GLP J-Reit		436
	480,791	e	Gold Wheaton Gold Corp (GDR)		2,087
	28,980		Goldcrest Co Ltd		723
	1,164,618		Goodman Property Trust		1,018
	167,726		Government Properties Income Trust		4,316
	687,120		GPT Group (ASE)		2,659
	618,775		Grainger plc		1,279
	142,569	*	Gramercy Capital Corp		743

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	83,149	*,m	Granite Real Estate Investment Trust	$	3,181
	752,652	e	Great Eagle Holdings Ltd		3,086
	928,802		Great Portland Estates plc		7,013
	210,400	*	Greattown Holdings Ltd		89
	2,535,300	*,e	Greentown China Holdings Ltd		4,787
	1,987,524		Growthpoint Properties Ltd		5,821
	161,316		GSW Immobilien AG.		6,388
	11,204,500	e	Guangzhou Investment Co Ltd		3,242
	2,219,136	e	Guangzhou R&F Properties Co Ltd		3,735
	5,228		Gyrodyne Co of America, Inc		384
	1,198,000		GZI Real Estate Investment Trust		682
	178,814		H&R Real Estate Investment Trust		4,117
	42,939		Hamborner AG.		396
	1,930,331		Hammerson plc		14,469
	1,991,016		Hang Lung Group Ltd		11,217
	14,447,071		Hang Lung Properties Ltd		54,088
	81		Hankyu Reit, Inc		564
	906,450		Hansteen Holdings plc		1,189
	228,752		Hatteras Financial Corp		6,275
	1,184,473		HCP, Inc		59,058
	747,598		Health Care REIT, Inc		50,769
	361,448		Healthcare Realty Trust, Inc		10,262
	165,400		Heiwa Real Estate Co Ltd		3,292
	155,498		Helical Bar plc		559
	14,816		Heliopolis Housing		39
	4,403,800		Hemaraj Land and Development PCL		637
	1,213,455		Henderson Land Development Co Ltd		8,324
	602,676		Hersha Hospitality Trust		3,520
	338,700		Highwealth Construction Corp		708
	274,125		Highwoods Properties, Inc		10,847
	1,457,600		HKR International Ltd		786
	415,000	e	Ho Bee Investment Ltd		647
	70,417		Home Properties, Inc		4,466
	260,994	e	Hongkong Land Holdings Ltd		1,939
	1,246,000	*,e	Hopson Development Holdings Ltd		1,811
	394,424		Hospitality Properties Trust		10,823
	2,064,492		Host Marriott Corp		36,108
	656,570	*	Housing Development & Infrastruture Ltd		561
	65,287	*	Howard Hughes Corp		5,472
	246,207		HRPT Properties Trust		5,525
	358,235		Huaku Development Co Ltd		898
	525,000		Huang Hsiang Construction Co		1,376
	185,589		Hudson Pacific Properties		4,037
	283,018	e	Hufvudstaden AB (Series A)		3,557
	908,362		Hung Poo Real Estate Development Corp		972
	553,000		Hung Sheng Construction Co Ltd		400
	150,879		Hyprop Investments Ltd		1,200
	626,377		Hysan Development Co Ltd		3,171
	13,610		Icade		1,191
	3,247	*	Ichigo Real Estate Investment Corp		2,369
	1,402,790		IGB Corp BHD		1,029
	116,600		Iguatemi Empresa de Shopping Centers S.A.		1,471

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	20,000		Iida Home Max	$	364
	1,452,000		IJM Land BHD		1,210
	358,628		Immobiliare Grande Distribuzione		384
	1,355,948	*,e,m	Immoeast AG.		0	^
	658,721	*,e	Immofinanz ANSPR NACHB AG.		0	^
	136,958		IMMOFINANZ Immobilien Anlagen AG.		520
	418,741		Indiabulls Real Estate Ltd		422
	270		Industrial & Infrastructure Fund Investment Corp		2,986
	122,941		Industrial Buildings Corp		186
	804,935		ING Office Fund		2,568
	340,711		Inland Real Estate Corp		3,438
	130,400		InnVest Real Estate Investment Trust		637
	2,046		Intershop Holdings		724
	9,356		Intervest Offices		236
	598,309		Invesco Mortgage Capital, Inc		12,798
	571,919		Investors Real Estate Trust		5,645
	869,162		Is Gayrimenkul Yatirim Ortakligi AS		702
	340,373	*	iStar Financial, Inc		3,707
	181,317	*,e	IVG Immobilien AG.		153
	776		Japan Excellent, Inc		5,835
	5,552	*	Japan Hotel REIT Investment Corp		2,417
	200	*	Japan Logistics Fund Inc		2,334
	967		Japan Prime Realty Investment Corp		3,746
	122	*	Japan Real Estate Investment Corp		1,690
	1,325		Japan Rental Housing Investments, Inc		1,120
	3,200	*	Japan Retail Fund Investment Corp		7,940
	39,058	*	JAVELIN Mortgage Investment Corp		767
	17,724	*	Jerusalem Economy Ltd		121
	9,761	*	Jerusalem Oil Exploration		221
	181,600		JHSF Participacoes S.A.		692
	2,472,050		Jiangsu Future Land Co Ltd		1,983
	554		Joint Reit Investment Corp		3,101
	289,514		Jones Lang LaSalle, Inc		28,781
	1,444,179	e	K Wah International Holdings Ltd		813
	3,020,000	*,e	Kaisa Group Holdings Ltd		855
	228,480		KEE TAI Properties Co Ltd		169
	3,427		Kenedix Realty Investment Corp		16,642
	5,440	*,e	Kenedix, Inc		2,796
	164,408	e	Kennedy-Wilson Holdings, Inc		2,550
	1,704,546	e	Keppel Land Ltd		5,437
	1,760,640		Kerry Properties Ltd		7,837
	58,900	e	Killam Properties, Inc		696
	231,123		Kilroy Realty Corp		12,111
	1,774,141		Kimco Realty Corp		39,741
	109,000		Kindom Construction Co		99
	476,280		King’s Town Construction Co Ltd		480
	199,526		Kite Realty Group Trust		1,345
	1,206,814		Kiwi Income Property Trust		1,181
	676,000		KLCC Property Holdings BHD		1,454
	30,723		Klepierre		1,208
	130,008	e	Klovern AB		563
	3,250	*	Klovern AB (Pref)		68

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	110,636	*,e	Korea Real Estate Investment Trust Co	$	157
	3,151,130		Kowloon Development Co Ltd		4,247
	833,799		K-REIT Asia		916
	174,801		Kungsleden AB		1,129
	470,000		Kuoyang Construction Co Ltd		278
	7,013,000		KWG Property Holding Ltd		4,406
	74,846,000		Lai Fung Holdings Ltd		2,007
	11,088,250	*	Lai Sun Development		355
	203,050		Land Securities Group plc		2,563
	373,227		LaSalle Hotel Properties		9,473
	39,110	*	LC Corp S.A.		15
	135,000	*	LEG Immobilien AG.		7,233
	526,573		Lend Lease Corp Ltd		5,617
	258,311	*	Leopalace21 Corp		1,116
	509,607		Lexington Corporate Properties Trust		6,013
	122,884		Liberty International plc		626
	131,254		Liberty Property Trust		5,217
	1,289,910		Link Real Estate Investment Trust		7,035
	2,015,000		Lippo-Mapletree Indonesia Retail Trust		838
	1,579,843		London & Stamford Property plc		2,547
	391,000	*	Long Bon International Co Ltd		283
	2,164,200	e	Longfor Properties Co Ltd		3,591
	1,782,000		LPN Development PCL		1,542
	63,700		LPS Brasil Consultoria de Imoveis S.A.		1,131
	216,337		LTC Properties, Inc		8,811
	299,655		Macerich Co		19,292
	488,581		Mack-Cali Realty Corp		13,978
	648,301		Macquarie CountryWide Trust		2,644
	839,838		Macquarie Goodman Group		4,198
	3,511,590		Macquarie MEAG Prime REIT		2,521
	1,832,666		Mah Sing Group BHD		1,375
	1,000	*	Mainstreet Equity Corp		31
	35,779	*,e,m	Mapeley Ltd		8
	2,896,000		Mapletree Commercial Trust		3,142
	3,594,103		Mapletree Industrial Trust		4,071
	3,739,843		Mapletree Logistics Trust		3,666
	674,283		Medical Properties Trust, Inc		10,816
	14,884	*	Medinet Nasr Housing		45
	48,406,800		Megaworld Corp		4,614
	19,346		Melisron Ltd		412
	42,916		Mercialys S.A		879
	1,411,780		MFA Mortgage Investments, Inc		13,158
	992		MID Reit, Inc		3,050
	116,232		Mid-America Apartment Communities, Inc		8,027
	1,792,929	e	Midland Holdings Ltd		794
	2,744,000		Minmetals Land Ltd		394
	3,319,203		Mirvac Group		5,616
	234,920	*,m	Mission West Properties, Inc		14
	966,837		Mitsubishi Estate Co Ltd		27,388
	1,933,322		Mitsui Fudosan Co Ltd		55,210
	7,430		Mobimo Holding AG.		1,667
	163,797		Monmouth Real Estate Investment Corp (Class A)		1,826

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	33,021		Morguard Real Estate Investment Trust	$	579
	401		Mori Hills REIT Investment Corp		2,976
	249		Mori Trust Sogo Reit, Inc		2,671
	199,616		Multiplan Empreendimentos Imobiliarios S.A.		5,729
	383,600		Naim Holdings BHD		279
	124,072		National Health Investors, Inc		8,121
	378,286		National Retail Properties, Inc		13,683
	1,718,000	*	Neo-China Land Group Holdings Ltd		337
	4,656,666		New World China Land Ltd		1,998
	8,021,588		New World Development Ltd		13,633
	177,365		New York Mortgage Trust, Inc		1,337
	59,935		Nieuwe Steen Investments NV		393
	285		Nippon Accommodations Fund, Inc		2,413
	494	*	Nippon Building Fund, Inc		6,922
	606	*	Nippon ProLogis REIT, Inc		6,599
	38,234	*	Nitsba Holdings 1995 Ltd		389
	105,629	e	Nomura Real Estate Holdings, Inc		2,371
	244		Nomura Real Estate Office Fund, Inc		1,798
	386		Nomura Real Estate Residential Fund, Inc		2,623
	18,469		Northern Property Real Estate Investment Trust		575
	897,875		NorthStar Realty Finance Corp		8,512
	19,700		NorthWest Healthcare Properties Real Estate Investment Trust		247
	602,417	e	Norwegian Property ASA		946
	178,976		NRDC Acquisition Corp		2,507
	2,799		NTT Urban Development Corp		3,374
	484,589		Omega Healthcare Investors, Inc		14,712
	49,209		One Liberty Properties, Inc		1,069
	107,558	*	Orco Property Group		295
	3,084	*	Orix JREIT, Inc		4,355
	825,654	*	Palm Hills Developments SAE		246
	140,920		Paramount Corp BHD		71
	789,000		Parkway Life Real Estate Investment Trust		1,612
	104,219		Parkway Properties, Inc		1,933
	1,752,698		Parque Arauco S.A		4,534
	358,802	*	Parsvnath Developers Ltd		263
	96,404	*	Patrizia Immobilien AG.		898
	1,066,500		Pavilion Real Estate Investment Trust		552
	369,637		PAZ Corp S.A.		263
	206,928		Pebblebrook Hotel Trust		5,337
	283,579		Pennsylvania Real Estate Investment Trust		5,499
	277,084		Pennymac Mortgage Investment Trust		7,174
	2,278,000		Perennial China Retail Trust		1,086
	924,154		Phoenix Mills Ltd		4,671
	217,392		Piedmont Office Realty Trust, Inc		4,259
	229,143		Plum Creek Timber Co, Inc		11,961
	3,095,600	*,e	Poly Hong Kong Investment Ltd		1,967
	7,091,160		Polytec Asset Holdings Ltd		953
	349,222		Post Properties, Inc		16,448
	518,718		Potlatch Corp		23,788
	3,079,000	e	Powerlong Real Estate Holdings Ltd		716
	1,399		Premier Investment Co		7,551

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,189		Prestige Estates Projects Ltd	$	19
	1,936,400		Preuksa Real Estate PCL (Foreign)		1,993
	140,316		Primaris Retail Real Estate Investment Trust		3,761
	83,153		Primary Health Properties plc		418
	103,348		Prime Office REIT-AG.		424
	1,127,060		Prince Housing & Development Corp		801
	1,628,741		Prologis, Inc		65,117
	2,379		Property & Building Corp		130
	1,635,000		Prosperity REIT		567
	107,549		PS Business Parks, Inc		8,488
	89,724		PSP Swiss Property AG.		8,179
	14,705,500		PT Agung Podomoro Land Tbk		773
	23,132,000		PT Alam Sutera Realty Tbk		2,556
	14,135,000	*	PT Bekasi Fajar Industrial Estate Tbk		1,415
	26,515,000		PT Ciputra Development Tbk		2,952
	16,321,000		PT Ciputra Property Tbk		1,617
	5,923,500	*	PT Gading Development Tbk		208
	9,451,500		PT Intiland Development Tbk		566
	132,130,500	*	PT Kawasan Industri Jababeka Tbk		4,096
	575,500	*	PT Lippo Cikarang Tbk		398
	62,170,613		PT Lippo Karawaci Tbk		8,783
	4,876,500		PT Modernland Realty Tbk		508
	16,872,000		PT Pakuwon Jati Tbk		670
	37,811,500	*	PT Sentul City Tbk		1,212
	11,995,500		PT Summarecon Agung Tbk		3,060
	660,053		Public Storage, Inc		100,539
	2,163,939		Puravankara Projects Ltd		3,601
	5,466,432		Quality House PCL		812
	758,306	*	Quintain Estates & Development plc		772
	767,898		Radium Life Tech Co Ltd		702
	9,490,900	*	Raimon Land PCL (ADR)		644
	278,228		RAIT Investment Trust		2,217
	223,879		Ramco-Gershenson Properties		3,761
	702,823		Rayonier, Inc		41,937
	91,859	*	Realia Business S.A.		88
	1,034,211	*	Realogy Holdings Corp		50,511
	249,430		Realty Income Corp		11,312
	3,146,218		Redefine Income Fund Ltd		3,387
	36,364		Redefine International plc		20
	315,844		Redwood Trust, Inc		7,321
	27,674,000		Regal Real Estate Investment Trust		8,858
	218,247		Regency Centers Corp		11,547
	24,300		Relo Holdings, Inc		1,058
	8,197,500	*,e	Renhe Commercial Holdings Co Ltd		493
	381,099		Resilient Property Income Fund Ltd		2,259
	389,423		Resource Capital Corp		2,574
	195,155		Retail Properties of America, Inc		2,888
	1,784,000		Richfield Group Holdings Ltd		72
	572,119		RioCan Real Estate Investment Trust		15,657
	589,668		RLJ Lodging Trust		13,421
	4,604,000		Robinsons Land Corp		2,877
	82,612		Rouse Properties, Inc		1,495

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	676,273		Ruentex Development Co Ltd	$	1,385
	120,587		Ryman Hospitality Properties		5,517
	2,611,288		S.A. Corporate Real Estate Fund		1,227
	1,481,000		Sabana Shari’ah Compliant Industrial REIT		1,511
	186,124		Sabra Healthcare REIT, Inc		5,399
	668,259		Saf Gayrimenkul Yatirim Ortakligi AS.		366
	19,839,232		Sansiri PCL		3,233
	51,027		Saul Centers, Inc		2,232
	252,159		Savills plc		2,080
	237,981		Segro plc		922
	97,746		Select Income REIT		2,585
	267,550		Senior Housing Properties Trust		7,178
	363,589		Shaftesbury plc		3,218
	542,840		Shanghai Jinqiao Export Processing Zone Development Co Ltd		516
	72,000		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		96
	24,843,429	*	Shanghai Real Estate Ltd		962
	510,000	e	Shell Electric MFG		675
	8,018,464		Shenzhen Investment Ltd		3,228
	4,673,900	e	Shimao Property Holdings Ltd		9,012
	691,140	*	Shining Building Business Co Ltd		498
	1,275,300		Shoei Co Ltd		10,500
	698,676	*	Shopping Centres Australasia Property Group		1,204
	3,973,282	e	Shui On Land Ltd		1,714
	135,943		Silver Bay Realty Trust Corp		2,814
	1,902,573		Simon Property Group, Inc		301,672
	14,000	e	Singapore Land Ltd		105
	6,319,031		Sino Land Co		10,755
	2,132,000	*	Sinolink Worldwide Holdings Ltd		179
	10,125,591	e	Sino-Ocean Land Holdings Ltd		6,125
	1,361,930		Sinpas Gayrimenkul Yatirim Ortakligi AS		1,078
	483,128		Sinyi Realty Co		752
	66,083		Six of October Development & Investment		188
	514,307		SL Green Realty Corp		44,287
	1,310,908		SM Development Corp		272
	15,276,015		SM Prime Holdings		7,155
	233,416		Sobha Developers Ltd		1,500
	11,440		Societe de la Tour Eiffel		653
	13,897		Societe Immobiliere de Location pour l’Industrie et le Commerce		1,482
	3,921,800	e	Soho China Ltd		3,280
	44,600		Sonae Sierra Brasil S.A.		615
	98,000		Soundwill Holdings Ltd		250
	160,415		Sovran Self Storage, Inc		10,345
	928,700		SP Setia BHD		990
	67,678		Sparkassen Immobilien AG.		407
	3,004,929	*	SPG Land Holdings Ltd		1,080
	227,504		Spirit Realty Capital, Inc		4,323
	535,823	e	Sponda Oyj		2,533
	244,492		ST Modwen Properties plc		957
	81,477	*,e	St. Joe Co		1,731

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	127,560		STAG Industrial, Inc	$	2,713
	766,448		Starwood Property Trust, Inc		21,277
	2,230,815		Stockland Trust Group		8,514
	1,301,547	*	Strategic Hotels & Resorts, Inc		10,868
	21,610		Sumitomo Real Estate Sales Co Ltd		1,299
	1,501,422	e	Sumitomo Realty & Development Co Ltd		58,491
	200,066		Summit Hotel Properties, Inc		2,095
	139,788		Sun Communities, Inc		6,896
	3,978,643		Sun Hung Kai Properties Ltd		53,690
	1,152,000	e	Sunac China Holdings Ltd		814
	2,997,000		Sunlight Real Estate Investment Trust		1,314
	1,013,108	*	Sunstone Hotel Investors, Inc		12,471
	3,310,000		Suntec Real Estate Investment Trust		4,809
	1,845,222		Sunteck Realty Ltd		13,568
	1,170,794	*	Sunway BHD		1,115
	1,871,100		Sunway Real Estate Investment		931
	2,091,000		Supalai PCL		1,490
	922,693		Swire Pacific Ltd (Class A)		11,787
	651,901		Swire Properties Ltd		2,319
	116,341		Swiss Prime Site AG.		9,418
	144,139		Sycom Property Fund		450
	1,256,600		TA Global BHD		100
	342,280		TAG Tegernsee Immobilien und Beteiligungs AG.		3,918
	415,852	*	Taiwan Land Development Corp		162
	49,700		Takara Leben Co Ltd		785
	1,067,535	*	Talaat Moustafa Group		592
	260,432		Tanger Factory Outlet Centers, Inc		9,422
	417,698		Taubman Centers, Inc		32,438
	144,977		Technopolis plc		695
	46,865	*	Tejon Ranch Co		1,396
	68,047		Terreno Realty Corp		1,223
	864,100	e	Thomas Properties Group, Inc		4,433
	1,481,400		Ticon Industrial Connection PCL		1,248
	106,800		TOC Co Ltd		838
	3,400,881		Tokyo Tatemono Co Ltd		24,312
	571,329		Tokyu Land Corp		5,391
	20,900		Tokyu Livable, Inc		443
	211	*	Tokyu REIT, Inc		1,598
	400	*	Top REIT Inc		2,385
	9,657	e	Tosei Corp		10,906
	1,707,297		Two Harbors Investment Corp		21,529
	310,433		UDR, Inc		7,509
	4,048,730	*	UEM Land Holdings BHD		3,524
	52,860		UMH Properties, Inc		543
	91,859	*	Unibail-Rodamco		21,395
	356,724		Unite Group plc		1,743
	6,958,291	*	Unitech Corporate Parks plc		3,833
	71,196,729		Unitech Ltd		30,933
	346,027	e	United Overseas Land Ltd		1,954
	9,067		United Urban Investment Corp		14,801
	56,125		Universal Health Realty Income Trust		3,239
	1,298,300		UOA Development BHD		878

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	109,722		Urstadt Biddle Properties, Inc (Class A)	$	2,388
	48,886	*	Vakif Gayrimenkul Yatirim Ortakligi AS		132
	22,500		Vastned Retail NV		934
	1,405,603		Ventas, Inc		102,890
	7,557,000		Vista Land & Lifescapes, Inc		1,003
	502,138		Vornado Realty Trust		41,999
	271,734		Vukile Property Fund Ltd		561
	135,654		Wallenstam Byggnads AB (B Shares)		1,772
	11,905		Warehouses De Pauw SCA		755
	233,356		Washington Real Estate Investment Trust		6,497
	262,274		Weingarten Realty Investors		8,275
	2,332		Wereldhave Belgium NV		244
	27,222		Wereldhave NV		1,883
	135,811		Western Asset Mortgage Capital Corp		3,156
	6,039,707		Westfield Group		68,430
	5,240,587		Westfield Retail Trust		16,499
	2,211,377		Weyerhaeuser Co		69,393
	4,021,413		Wharf Holdings Ltd		35,964
	2,006,763		Wheelock & Co Ltd		10,715
	321,097	e	Wheelock Properties S Ltd		499
	54,295		Whitestone REIT		822
	136,995		Wihlborgs Fastigheter AB		2,261
	1,309,631		Wing Tai Holdings Ltd		2,014
	101,722		Winthrop Realty Trust		1,280
	303,919		Workspace Group plc		1,585
	4,748,000	*,e	Yanlord Land Group Ltd		5,769
	1,197,000	*,e	Ying Li International Real Estate Ltd		455
	13,059		YNH Property BHD		8
	1,133,600	*	YTL Land & Development BHD		330
	1,253,600	e	Yuzhou Properties Co		305
	21,929	*	ZAIS Financial Corp		452
	4,410,800	*	Zhong An Real Estate Ltd		706
	18,154	*,e	Zillow, Inc		992
	56,590	*	Zueblin Immobilien Holding AG.		141
	220	*	Zug Estates Holding AG		285
			TOTAL REAL ESTATE		4,237,190
RETAILING - 3.8%
	178,863	*	1-800-FLOWERS.COM, Inc (Class A)		889
	104,325		Aaron’s, Inc		2,992
	2,901	e	ABC-Mart, Inc		111
	422,911		Abercrombie & Fitch Co (Class A)		19,538
	180,916		Advance Auto Parts, Inc		14,953
	417,512	*,e	Aeropostale, Inc		5,678
	74,852		Alpen Co Ltd		1,409
	1,659,905	*	Amazon.com, Inc		442,348
	4,207,641		American Eagle Outfitters, Inc		78,683
	28,440	*	America’s Car-Mart, Inc		1,329
	254,053	*	Ann Taylor Stores Corp		7,373
	24,653		AOKI Holdings, Inc		636
	170,241		Aoyama Trading Co Ltd		4,350
	88,181		ARB Corp Ltd		1,160

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,700		Arc Land Sakamoto Co Ltd	$	400
	17,200	e	Asahi Co Ltd		238
	100,849	*	Asbury Automotive Group, Inc		3,700
	319,320	*	Ascena Retail Group, Inc		5,923
	35,500		ASKUL Corp		518
	431,601	*,e	ASOS plc		22,001
	68,580	*,e	Audiovox Corp (Class A)		734
	274,000		Aurora Corp		479
	98,634	e	Autobacs Seven Co Ltd		1,547
	339,120		Automotive Holdings Group		1,473
	100,210	*	Autonation, Inc		4,384
	90,314	*	Autozone, Inc		35,834
	90,900	*	B2W Companhia Global Do Varejo		670
	123,894	*,e	Barnes & Noble, Inc		2,038
	125,255	e	Bebe Stores, Inc		522
	833,330	*	Bed Bath & Beyond, Inc		53,683
	5,973,500	e	Belle International Holdings Ltd		9,981
	36,950		Belluna Co Ltd		360
	3,377,107	e	Best Buy Co, Inc		74,803
	33,586		Beter BED Holding NV		615
	1,063	e	BIC CAMERA, Inc		500
	135,432		Big 5 Sporting Goods Corp		2,114
	84,854	*	Big Lots, Inc		2,993
	53,730		Bilia AB (A Shares)		972
	67,587	*,e	Blue Nile, Inc		2,328
	73,560	*	Body Central Corp		691
	3,658,000		Bonjour Holdings Ltd		586
	40,155	e	Bon-Ton Stores, Inc		522
	1,287,000	e,m	Boshiwa International Holding		139
	4,465	*	Boyner Buyuk Magazacilik		15
	112,540		Brick Ltd		597
	189,728		Brown Shoe Co, Inc		3,036
	104,554	e	Buckle, Inc		4,877
	72,301		Byggmax Group AB		405
	169,901	*,e	Cabela’s, Inc		10,327
	10,965	*,e	CafePress, Inc		66
	63,620		Canadian Tire Corp Ltd		4,591
	190,406		Canon Marketing Japan, Inc		2,823
	991,251	*	Carmax, Inc		41,335
	71,171	*,e	Carpetright plc		679
	586,292		Cash Converters International Ltd		895
	10,585		Cashbuild Ltd		144
	95,466	e	Cato Corp (Class A)		2,305
	71,294	*,e	CDON Group AB		405
	250,000	*	Century Ginwa Retail Holdings Ltd		64
	354,169		Chico’s FAS, Inc		5,950
	139,081	*	Children’s Place Retail Stores, Inc		6,234
	144,000	*	China Yongda Automobiles Services Holdings Ltd		147
	12,153,500	*,e	China ZhengTong Auto Services Holdings Ltd		7,959
	26,700		Chiyoda Co Ltd		695
	46,400		Chori Co Ltd		538
	375,000		Chow Sang Sang Holding		1,110

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	182,100		Cia Hering	$	3,253
	70,454	*,e	Citi Trends, Inc		721
	9,408		CJ O Shopping Co Ltd		2,505
	88,141		Clas Ohlson AB (B Shares)		1,177
	3,784	*,e	Coldwater Creek, Inc		12
	59,247	*,e	Conn’s, Inc		2,127
	44,587		Core-Mark Holding Co, Inc		2,288
	85,000	*,e	Ctrip.com International Ltd (ADR)		1,817
	4,541,800	e	Dah Chong Hong Holdings Ltd		4,312
	136,800	*,e	Daiei, Inc		499
	689,705	e	David Jones Ltd		2,153
	285,500		DCM Japan Holdings Co Ltd		2,387
	3,461,602		Debenhams plc		4,355
	37,103		Delek Automotive Systems Ltd		355
	22,911		Delticom AG.		1,055
	82,456	e	Destination Maternity Corp		1,929
	157,920	*,e	Destination XL Group, Inc		804
	735,027	e	Dick’s Sporting Goods, Inc		34,767
	7,406,500		Dickson Concepts International Ltd		4,205
	26,417		Dieteren S.A.		1,207
	169,642		Dillard’s, Inc (Class A)		13,325
	212,883		Dogus Otomotiv Servis ve Ticaret AS		1,335
	447,075	*	Dollar General Corp		22,613
	996,620	*	Dollar Tree, Inc		48,266
	133,107	e	Dollarama, Inc		8,547
	383,100		Don Quijote Co Ltd		16,993
	22,600	e	Doshisha Co Ltd		340
	4,561,740	*,e	DSG International plc		2,346
	58,467	e	DSW, Inc (Class A)		3,730
	28,944	*	Dufry Group		3,605
	182,046		Dunelm Group plc		2,319
	108,083	e	EDION Corp		510
	189,820		El Puerto de Liverpool SAB de C.V.		2,338
	326,000		E-LIFE MALL Corp		805
	4,270,000	e	Emperor Watch & Jewellery Ltd		436
	431,675		Empresas Hites S.A.		513
	19,115,839		Empresas La Polar S.A.		7,783
	7,194,300	e	Esprit Holdings Ltd		8,691
	1,295,829		Expedia, Inc		77,763
	575,075	*	Express Parent LLC		10,242
	137,367		Family Dollar Stores, Inc		8,112
	1,210,246		Far Eastern Department Stores Co Ltd		1,082
	53,689		Fast Retailing Co Ltd		17,169
	188,038		Finish Line, Inc (Class A)		3,684
	55,233	*,e	Five Below, Inc		2,093
	1,820,275		Foot Locker, Inc		62,326
	295,056		Foschini Ltd		3,621
	128,708	*,e	Francesca’s Holdings Corp		3,689
	138,008		Fred’s, Inc (Class A)		1,888
	20,600		Fuji Co Ltd		396
	1,092,495	e	GameStop Corp (Class A)		30,557
	3,773,184		Gap, Inc		133,571

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	115,675	*	Genesco, Inc	$	6,951
	351,012	e	Genuine Parts Co		27,379
	330		Geo Corp		420
	1,708,000	e	Giordano International Ltd		1,707
	251,755		GNC Holdings, Inc		9,889
	918,000	e	Golden Eagle Retail Group Ltd		1,659
	464,000		Goldlion Holdings Ltd		242
	13,228,208	*,e	GOME Electrical Appliances Holdings Ltd		1,452
	25,892	*	Gordmans Stores, Inc		303
	92,916	e	Group 1 Automotive, Inc		5,581
	2,004,039	*,e	Groupon, Inc		12,265
	2,174,500	*,e	Grupo Famsa SAB de C.V.		4,627
	10,908		GS Home Shopping, Inc		1,919
	81,019	e	Guess?, Inc		2,012
	5,870		Gulliver International Co Ltd		344
	1,048		GwangjuShinsegae Co Ltd		264
	93,500		Hai-O Enterprise BHD		72
	540,541		Halfords Group plc		2,650
	146,825	e	Hankyu Department Stores, Inc		1,573
	588,751	e	Harvey Norman Holdings Ltd		1,680
	64,714		Haverty Furniture Cos, Inc		1,331
	38,588	*	Hellenic Duty Free Shops S.A.		654
	27,060,000	e	Hengdeli Holdings Ltd		7,592
	685,818		Hennes & Mauritz AB (B Shares)		24,562
	54,508	*,e	HHgregg, Inc		602
	102,843	*,e	Hibbett Sports, Inc		5,787
	7,672,919		Home Depot, Inc		535,416
	1,084,145	e	Home Retail Group		2,566
	80,432	*,e	HomeAway, Inc		2,614
	20,620	e	Honeys Co Ltd		269
	141,452		Hot Topic, Inc		1,963
	295,100		Hotai Motor Co Ltd		2,385
	128,887		HSN, Inc		7,071
	20,039		Hyundai Department Store Co Ltd		2,947
	63,630	e	Hyundai H&S Co Ltd		972
	6,056		Hyundai Home Shopping Network Corp		755
	685,224		Imperial Holdings Ltd		15,679
	941,642		Inchcape plc		7,210
	500,430		Inditex S.A.		66,688
	14,492	e	Interpark Corp		104
	12,058,200		Intime Department Store Group Co Ltd		13,737
	469,587		Isetan Mitsukoshi Holdings Ltd		6,789
	712,000	e	IT Ltd		291
	69,300		Izumi Co Ltd		1,688
	2,541,066		J Front Retailing Co Ltd		19,846
	87,687	e	Jardine Cycle & Carriage Ltd		3,626
	349,037	e	JB Hi-Fi Ltd		5,382
	857,324	e	JC Penney Co, Inc		12,954
	302,709	e	JD Group Ltd		1,146
	40,100	e	Jin Co Ltd		2,222
	76,666		John Menzies plc		832
	98,801	*,e	Jos A Bank Clothiers, Inc		3,942

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,000		Joshin Denki Co Ltd	$	428
	226,879		JUMBO S.A.		1,614
	11,100	*	Kayak Software Corporation		444
	37,987	e	Keiyo Co Ltd		193
	733,322		Kesa Electricals plc		479
	5,981,305		Kingfisher plc		26,218
	54,933	*	Kirkland’s, Inc		630
	714,827	e	Kohl’s Corp		32,975
	122,200	e	Kohnan Shoji Co Ltd		1,575
	37,705		Kolao Holdings		930
	35,300	e	Komeri Co Ltd		1,053
	112,000	e	Konaka Co Ltd		1,279
	55,863	e	K’s Holdings Corp		1,792
	503,407		L Brands, Inc		22,482
	13,722		LES Enphants Co Ltd		10
	338,404	e	Lewis Group Ltd		2,379
	5,923,977	e	Li & Fung Ltd		8,189
	2,510,189	*	Liberty Media Holding Corp (Interactive A)		53,668
	189,122	*	Liberty Ventures		14,294
	8,404,000	e	Lifestyle International Holdings Ltd		18,687
	77,660		Lithia Motors, Inc (Class A)		3,687
	906,511	*	LKQ Corp		19,726
	8,300		Lojas Americanas S.A.		68
	517,163		Lojas Americanas S.A.(Pref)		4,453
	159,150		Lojas Renner S.A.		5,956
	382,871		Lookers plc		576
	36,219		Lotte Shopping Co Ltd		12,849
	2,522,337	e	Lowe’s Companies, Inc		95,647
	3,474,000	e	Luk Fook Holdings International Ltd		11,186
	100,847	*,e	Lumber Liquidators, Inc		7,081
	3,082,754		Macy’s, Inc		128,982
	114,500		Magazine Luiza S.A.		519
	1,211,000	e	Maoye International Holdings Ltd		290
	69,373	*	MarineMax, Inc		943
	179,654		Marks & Spencer Group plc		1,065
	958,197		Marui Co Ltd		9,951
	37,800	*,e	Matsuya Co Ltd		635
	38,715	*,e	Mattress Firm Holding Corp		1,337
	143,600		MBM Resources BHD		156
	35,600		Megane TOP Co Ltd		495
	24,748		Mekonomen AB		834
	193,805		Men’s Wearhouse, Inc		6,477
	344,875		Mercuries & Associates Ltd		281
	1,599,914		MFI Furniture plc		5,820
	70,933		Mobilezone Holding AG.		725
	111,676	e	Monro Muffler, Inc		4,435
	104,217	*,e	Mothercare plc		499
	303,539		Mr Price Group Ltd		3,861
	1,793,486	e	Myer Holdings Ltd		5,527
	351,619		N Brown Group plc		2,188
	341,000		National Petroleum Co Ltd		342
	249,125	*,e	NetFlix, Inc		47,187

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	900,000		New Carphone Warehouse plc	$	2,756
	2,155,000	e	New World Department Store China Ltd		1,248
	176,323	*,e	New York & Co, Inc		721
	676,918		Next plc		44,972
	94,000		Nice Holdings, Inc		257
	77,100		Nishimatsuya Chain Co Ltd		626
	40,500		Nissen Holdings Co Ltd		160
	18,477		Nitori Co Ltd		1,427
	718,157		Nordstrom, Inc		39,664
	129,689	e	Nutri/System, Inc		1,100
	510,145	*,e	Ocado Ltd		1,225
	1,150,505	*,e	Office Depot, Inc		4,521
	324,517	e	OfficeMax, Inc		3,768
	137,292	*,e	Orbitz Worldwide, Inc		784
	8,880	*,e	Orchard Supply Hardware Stores Corp		35
	465,078	*	O’Reilly Automotive, Inc		47,694
	526,000		Oriental Watch Holdings		172
	59,420		OrotonGroup Ltd		445
	831,000	e	OSIM International Ltd		1,341
	12,100		Otsuka Kagu Ltd		123
	50,883	*,e	Overstock.com, Inc		627
	2,310,327		Pacific Brands Ltd		2,079
	198,400		Padini Holdings BHD		122
	11,900		Pal Co Ltd		333
	163,200		Paltac Corp		2,100
	150,000		Pantaloon Retail India Ltd		414
	21,682	e	Parco Co Ltd		229
	36,800		Paris Miki, Inc		200
	603,160		Parkson Holdings BHD		915
	1,484,000		Parkson Retail Asia Ltd		1,962
	1,607,800	e	Parkson Retail Group Ltd		958
	4,488,000	e	PCD Stores Ltd		679
	2,064,132	*	Pendragon plc		714
	164,219		Penske Auto Group, Inc		5,478
	220,217	*,e	PEP Boys - Manny Moe & Jack		2,596
	11,710	*,e	Perfumania Holdings, Inc		67
	302,106	e	PetMed Express, Inc		4,053
	841,096		Petsmart, Inc		52,232
	374,073		Pier 1 Imports, Inc		8,604
	18,410		Point, Inc		909
	2,647,500	*	Pou Sheng International Holdings Ltd		163
	132,000		Poya Co Ltd		425
	11,684		PPR		2,570
	222,049		Premier Investments Ltd		1,981
	215,423	*	Priceline.com, Inc		148,196
	22,232,000		PT ACE Hardware Indonesia Tbk		1,904
	860,000		PT Mitra Adiperkasa Tbk		807
	1,528,500		PT Ramayana Lestari Sentosa Tbk		219
	395,481	e	RadioShack Corp		1,329
	1,179,500	*	Rakuten, Inc		12,063
	86,937	e	Reitmans Canada Ltd		884
	27,945	e	Reject Shop Ltd		488

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	229,374	e	Rent-A-Center, Inc	$	8,473
	26,525	*,e	Restoration Hardware Holdings, Inc		928
	154,022		RONA, Inc		1,695
	1,021,719		Ross Stores, Inc		61,937
	53,682	*,e	Rue21, Inc		1,578
	25,300		Ryohin Keikaku Co Ltd		1,993
	1,352,000	e	SA SA International Holdings Ltd		1,311
	826,362		SACI Falabella		9,959
	437,754	*,e	Saks, Inc		5,021
	622,503	*,e	Sally Beauty Holdings, Inc		18,289
	43,500	e	Sanrio Co Ltd		1,932
	60,697		Sears Canada, Inc		584
	44,821	*,e	Sears Holdings Corp		2,240
	12,383	*	Sears Hometown and Outlet Stores, Inc		500
	410,437	*	Select Comfort Corp		8,114
	80,500		Senshukai Co Ltd		659
	23,754	*	Seobu Truck Terminal Co Ltd		485
	32,900	e	Seria Co Ltd		822
	104,200		Shimachu Co Ltd		2,509
	7,745		Shimamura Co Ltd		906
	7,801		Shinsegae Co Ltd		1,558
	3,589		Shinsegae International Co Ltd		244
	1,442,000		Shirble Department Stores		74
	47,658		Shoe Carnival, Inc		974
	152,560	*	Shutterfly, Inc		6,739
	1,237,000		Sichuan Xinhua Winshare Chainstore Co Ltd		684
	995,670	e	Signet Jewelers Ltd		66,710
	25,000		Signet Jewelers Ltd (London)		1,694
	591,425	e	Silver base Group Holdings Ltd		180
	152,976		Sonic Automotive, Inc (Class A)		3,390
	16,835	*	Sourceforge, Inc		249
	739,876	*	Sports Direct International plc		4,793
	154,538		Stage Stores, Inc		3,999
	5,689,817	e	Staples, Inc		76,414
	65,900	e	Start Today Co Ltd		837
	127,274	e	Stein Mart, Inc		1,067
	38,553	e	Stockmann Oyj Abp (B Share)		604
	257,516		Super Cheap Auto Group Ltd		3,324
	598,761	*	Super Group Ltd		1,584
	35,840	*	SuperGroup plc		331
	35,350	e	Systemax, Inc		350
	413,995	e	Takashimaya Co Ltd		4,107
	47,131		Takkt AG.		770
	3,620,562		Target Corp		247,827
	36,200		Telepark Corp		420
	7,638,865		Test-Rite International Co		5,635
	154,138		Thorn Group Ltd		331
	345,508	e	Tiffany & Co		24,027
	47,048	*,e	Tilly’s, Inc		598
	4,008,589		TJX Companies, Inc		187,402
	7,100		Tokyo Derica Co Ltd		94
	19,706		Tom Tailor Holding AG.		444

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	182,433		Tractor Supply Co	$	18,997
	908,806	e	Trade Me Ltd		3,601
	1,143		Trent Ltd		21
	220,493	*	TripAdvisor, Inc		11,580
	782,468		Truworths International Ltd		7,675
	217,000		Tsann Kuen Enterprise Co Ltd		367
	175,603		Tsutsumi Jewelry Co Ltd		4,878
	235,353	*	Tuesday Morning Corp		1,826
	262,583		Ulta Salon Cosmetics & Fragrance, Inc		21,314
	642,488		United Arrows Ltd		21,990
	438,437	*	Urban Outfitters, Inc		16,985
	53,902	*,e	US Auto Parts Network, Inc		65
	26,995		USS Co Ltd		3,105
	8,383		Valora Holding AG.		1,713
	76,805	*,e	Vitacost.com, Inc		555
	136,940	*	Vitamin Shoppe, Inc		6,690
	158,765		Warehouse Group Ltd		464
	28,048		Webjet Ltd		139
	62,624	*	West Marine, Inc		716
	489,303	*	Wet Seal, Inc (Class A)		1,478
	135,445	*	WEX, Inc		10,632
	617,065	e	WH Smith plc		7,003
	171,867	e	Williams-Sonoma, Inc		8,855
	7,915	e	Winmark Corp		499
	1,176,371		Woolworths Holdings Ltd		9,032
	137,041	e	Wotif.com Holdings Ltd		709
	37,900		Xebio Co Ltd		806
	136,060	e	Yamada Denki Co Ltd		6,243
	43,700		Yellow Hat Ltd		689
	95,438	*,e	Yoox S.p.A		1,794
	745,000	e	Zhongsheng Group Holdings Ltd		905
	3,016	*	zooplus AG.		158
	76,643	*,e	Zumiez, Inc		1,755
			TOTAL RETAILING		4,255,685
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.0%
	856,000		A-DATA Technology Co Ltd		1,403
	258,229	*	Advanced Energy Industries, Inc		4,726
	1,245,837	*,e	Advanced Micro Devices, Inc		3,177
	9,825,537		Advanced Semiconductor Engineering, Inc		8,042
	116,712	e	Advantest Corp		1,652
	128,831	e	Aixtron AG.		1,883
	544,000		ALI Corp		613
	86,704	*,e	Alpha & Omega Semiconductor Ltd		770
	972,366	e	Altera Corp		34,490
	53,700	*	Ambarella, Inc		841
	26,422	*	Aminologics Co Ltd		40
	282,722	*,e	Amkor Technology, Inc		1,131
	233,780	*,e	Anadigics, Inc		468
	844,636		Analog Devices, Inc		39,267
	2,189,356		Applied Materials, Inc		29,513
	242,326	*	Applied Micro Circuits Corp		1,798

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	438,122		Ardentec Corp	$	292
	2,145,011		ARM Holdings plc		30,224
	10,331	*	Asia Pacific Systems, Inc		103
	61,327		ASM International NV		2,039
	215,936	e	ASM Pacific Technology		2,377
	260,450		ASML Holding NV		17,543
	808,516	*,e	Atmel Corp		5,627
	115,121	*	ATMI, Inc		2,582
	50,764	*,e	Atto Co Ltd		239
	92,910	*	AUK Corp		166
	59,761		Austriamicrosystems AG.		6,748
	2,032,105		Avago Technologies Ltd		72,993
	585,134	*	Axcelis Technologies, Inc		731
	5,100	e	Axell Corp		111
	153,584	*	AXT, Inc		452
	60,123		BE Semiconductor Industries NV		517
	4,798,787		Broadcom Corp (Class A)		166,374
	411,715	e	Brooks Automation, Inc		4,191
	83,416		Cabot Microelectronics Corp		2,899
	48,309		Capella Microsystems Taiwan, Inc		333
	335,881	*,e	Cavium Networks, Inc		13,036
	128,752	*,e	Ceva, Inc		2,009
	11,538	*,e,m	China Energy Savings Technology, Inc		0	^
	2,603,000		Chipbond Technology Corp		5,911
	244,248	*,e	Cirrus Logic, Inc		5,557
	94,576		Cohu, Inc		885
	206,742	*,e	Cree, Inc		11,311
	313,233		CSR plc		2,299
	121,292	*	Cymer, Inc		11,656
	464,230	e	Cypress Semiconductor Corp		5,120
	272,616	e	Dainippon Screen Manufacturing Co Ltd		1,234
	74,209	*,e	Dialog Semiconductor plc		987
	132,578	*	Diodes, Inc		2,781
	37,672	e	Disco Corp		2,149
	28,380	*,e	Dongbu HiTek Co Ltd		164
	90,065	*	DSP Group, Inc		727
	20,687	*,e	Duksan Hi-Metal Co Ltd		507
	117,482		Edison Opto Corp		159
	488,000		Elan Microelectronics Corp		1,080
	252,000		Elite Semiconductor Memory Technology, Inc		263
	12,506	e	ELK Corp		213
	155,100	*,m	Elpida Memory, Inc		0	^
	209,571		eMemory Technology, Inc		447
	728,225	*	Entegris, Inc		7,180
	355,565	*,e	Entropic Communications, Inc		1,447
	8,127	e	Eo Technics Co Ltd		248
	892,147		Epistar Corp		1,600
	438,167	*	E-Ton Solar Tech Co Ltd		159
	18,025		Eugene Technology Co Ltd		316
	144,548	*	Exar Corp		1,518
	838,489	*	Fairchild Semiconductor International, Inc		11,856
	339,101		Faraday Technology Corp		397

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	264,571	*,e	First Solar, Inc	$	7,133
	878,000		Forhouse Corp		441
	214,803	*	Formfactor, Inc		1,010
	353,000		Formosa Advanced Technologies Co Ltd		229
	523,000	*	Formosa Epitaxy, Inc		406
	913,567	*,e	Freescale Semiconductor Holdings Ltd		13,603
	3,000		Furuya Metal Co Ltd		82
	10,491,800	e	GCL Poly Energy Holdings Ltd		2,149
	29,927	*,e	GemVax & Kael Co Ltd		1,135
	264,819	*	Genesis Photonics, Inc		194
	26,150		Giga Solar Materials Corp		220
	446,850	*	Gintech Energy Corp		393
	58,000		Global Lighting Technologies, Inc		78
	172,000		Global Mixed Mode Technology, Inc		568
	117,000		Global Unichip Corp		362
	130,000		Greatek Electronics, Inc		104
	194,561	*	Green Energy Technology, Inc		161
	86,142	*	GSI Technology, Inc		568
	447,521	*,e	GT Solar International, Inc		1,472
	1,049,700		Hana Microelectronics PCL		905
	6,000,000	*,e	Hanergy Solar Group Ltd		383
	32,950	e	Hanmi Semiconductor Co Ltd		269
	12,651	*,e	Hansol LCD, Inc		243
	69,600		Hermes Microvision, Inc		1,687
	113,952	*	Hittite Microwave Corp		6,901
	458,000		Holtek Semiconductor, Inc		543
	996,840	*	Hynix Semiconductor, Inc		26,392
	14,602	*,e	ICD Co Ltd		177
	407,000		ILI Technology Corp		1,301
	24,010	e	Iljin Display Co Ltd		487
	254,626	*	Imagination Technologies Group plc		1,915
	766,067		Infineon Technologies AG.		6,061
	2,899,377	*	Inotera Memories, Inc		826
	95,060	*	Inphi Corp		993
	600,019	*	Integrated Device Technology, Inc		4,482
	46,175	*	Integrated Memory Logic Ltd		143
	122,544	*	Integrated Silicon Solution, Inc		1,124
	16,620,590		Intel Corp		363,160
	49,941	*	Intermolecular, Inc		509
	635,025	*,e	International Rectifier Corp		13,431
	527,278		Intersil Corp (Class A)		4,593
	635,648	*	IQE plc		254
	161,000	*	ITE Technology, Inc		141
	106,665		IXYS Corp		1,023
	37,876	*,e	Jusung Engineering Co Ltd		229
	1,669,000		King Yuan Electronics Co Ltd		1,134
	333,869		Kinsus Interconnect Technology Corp		1,036
	309,374		Kla-Tencor Corp		16,316
	10,973	e	Koh Young Technology, Inc		323
	71,130		Kontron AG.		387
	267,732	*,e	Kopin Corp		991
	5,389	*	Kulicke & Soffa Industries, Inc		62

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,369,274	*	Lam Research Corp	$	56,770
	619,386	*	Lattice Semiconductor Corp		3,376
	8,891	e	LEENO Industrial Inc		277
	292,726	*	Lextar Electronics Corp		324
	1,221,728		Linear Technology Corp		46,878
	142,000		Lingsen Precision Industries Ltd		77
	655,000		Lite-On Semiconductor Corp		360
	1,961,615	*	LSI Logic Corp		13,300
	169,239	*	LTX-Credence Corp		1,022
	16,088	*,e	Lumens Co Ltd		136
	23,195	*,e	MA-COM Technology Solutions		373
	19,000		Macroblock, Inc		67
	3,634,540		Macronix International		1,045
	2,575,489		Marvell Technology Group Ltd		27,249
	217,209	*,e	Mattson Technology, Inc		300
	2,555,106		Maxim Integrated Products, Inc		83,424
	78,013	*,e	MaxLinear, Inc		484
	1,469,166		MediaTek, Inc		16,791
	21,800	*,e	Megachips Corp		346
	44,406		Melexis NV		830
	13,057	e	Melfas, Inc		227
	49,210	*	Mellanox Technologies Ltd		2,723
	1,168,216	*	MEMC Electronic Materials, Inc		5,140
	199,376		Micrel, Inc		2,095
	379,941	e	Microchip Technology, Inc		13,967
	3,814,750	*	Micron Technology, Inc		38,071
	43,259		Micronas Semiconductor Holdings, Inc		310
	343,875	*	Microsemi Corp		7,968
	21,900		Mimasu Semiconductor Industry Co Ltd		212
	118,167	*,e	Mindspeed Technologies, Inc		393
	97,800		Mitsui High-Tec, Inc		740
	307,197		MKS Instruments, Inc		8,356
	115,409		Monolithic Power Systems, Inc		2,813
	121,641	*,e	MoSys, Inc		573
	452,720	*	Motech Industries, Inc		464
	37,000		MPI Corp		85
	268,699		MStar Semiconductor, Inc		2,178
	85,599	*,e	Nanometrics, Inc		1,235
	578,277		Neo Solar Power Corp		435
	67,733	*	NeoPhotonics Corp Ltd		346
	16,406		NEPES Corp		271
	76,000	*	Nexolon Co Ltd		109
	169,803	e	Nordic Semiconductor ASA		536
	1,606,126		Novatek Microelectronics Corp Ltd		7,044
	65		Nuflare Technology, Inc		390
	19,948	*,e	NVE Corp		1,125
	1,101,942		Nvidia Corp		14,127
	866,852	*	NXP Semiconductors NV		26,231
	193,653	*,e	Omnivision Technologies, Inc		2,669
	4,181,074	*	ON Semiconductor Corp		34,619
	1,366,000		Opto Technology Corp		565
	50,000		Orise Technology Co Ltd		77

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	24,728	*,e	Osung LST Co Ltd	$	103
	263,000	*	Pan Jit International, Inc		104
	25,000		Parade Technologies Ltd		242
	88,654	*	PDF Solutions, Inc		1,420
	26,450	*,e	Peregrine Semiconductor Corp		258
	101,561	*	Pericom Semiconductor Corp		692
	150,247		Phison Electronics Corp		1,221
	227,299	*	Photronics, Inc		1,518
	132,613		Pixart Imaging, Inc		292
	219,339	*	PLX Technology, Inc		1,000
	372,064	*,e	PMC - Sierra, Inc		2,526
	112,597		Power Integrations, Inc		4,888
	634,025		Powertech Technology, Inc		1,069
	142,826	*,e	QuickLogic Corp		351
	534,160		Radiant Opto-Electronics Corp		2,121
	484,952	*	Rambus, Inc		2,721
	1,731,691		Realtek Semiconductor Corp		3,975
	1,529,000		Regent Manner International Ltd		302
	1,076,228	*,e	Renewable Energy Corp AS		213
	3,096,971	*	RF Micro Devices, Inc		16,476
	165,861		Richtek Technology Corp		960
	164,801		Rohm Co Ltd		5,714
	61,756	*,e	Rubicon Technology, Inc		408
	120,809	*	Rudolph Technologies, Inc		1,423
	252,270		Samsung Electronics Co Ltd		343,851
	33,109	e	Samsung Electronics Co Ltd (Preference)		25,925
	3,358	*	San Chih Semiconductor Co		3
	155,000	e	Sanken Electric Co Ltd		625
	12,390,000	*,e	Semiconductor Manufacturing International		738
	228,736	*	Semtech Corp		8,095
	47,001		Seoul Semiconductor Co Ltd		1,234
	90,000		Shindengen Electric Manufacturing Co Ltd		364
	182,400	e	Shinko Electric Industries		1,523
	135,257	*	Sigma Designs, Inc		659
	30,680	*,e	Signetics Corp		96
	754,000		Sigurd Microelectronics Corp		775
	193,057	*	Silex Systems Ltd		666
	341,255	*	Silicon Image, Inc		1,658
	1,350,000		Silicon Integrated Systems Corp		461
	80,581	*	Silicon Laboratories, Inc		3,333
	10,655	e	Silicon Works Co Ltd		224
	3,552,631		Siliconware Precision Industries Co		4,114
	126,101	e	Simm Tech Co Ltd		981
	669,300		Sino-American Silicon Products, Inc		871
	65,000		Sitronix Technology Corp		93
	533,099	*	Skyworks Solutions, Inc		11,744
	148,621	*,e	SOITEC		558
	3,106,665	*	Solargiga Energy Holdings Ltd		165
	155,450	*	Solartech Energy Corp		105
	119,379	e	Solarworld AG.		130
	401,000		Sonix Technology Co Ltd		580
	212,362	*,e	Spansion, Inc		2,733

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	440,947	e	Spreadtrum Communications, Inc (ADR)	$	9,044
	886,353		STMicroelectronics NV		6,848
	106,724	*,e	STR Holdings, Inc		232
	37,592	e	STS Semiconductor & Telecommunications		211
	128,925	*,e	Sumco Corp		1,467
	1,407,000	*	Sunplus Technology Co Ltd		433
	223,238	*,e	SunPower Corp		2,576
	41,728		Supertex, Inc		927
	25,119	*	Suss Microtec AG.		288
	327,958		TA-I Technology Co Ltd		180
	45,478,560		Taiwan Semiconductor Manufacturing Co Ltd		152,319
	597,969		Taiwan Surface Mounting Technology Co Ltd		991
	431,000		Tekcore Co Ltd		187
	1,351,162	*,e	Teradyne, Inc		21,916
	199,446		Tessera Technologies, Inc		3,740
	2,811,785		Texas Instruments, Inc		99,762
	199,341	e	Tokyo Electron Ltd		8,505
	43,300		Tokyo Seimitsu Co Ltd		908
	565,860		Topco Scientific Co Ltd		1,029
	8,696	*,e	Toptec Co Ltd		142
	1	*	Tower Semiconductor Ltd		0	^
	509,708		Transcend Information, Inc		1,656
	677,030	*	Triquint Semiconductor, Inc		3,419
	1,746,000	m	Trony Solar Holdings Co Ltd.		71
	27,000		Ubright Optronics Corp		132
	50,400		UKC Holdings Corp		1,157
	92,453	*	Ultra Clean Holdings		601
	189,538	*	Ultratech, Inc		7,492
	43,000	e	Ulvac, Inc		358
	971,100		Unisem M BHD		277
	14,027,822		United Microelectronics Corp		5,229
	408,029	*	Unity Opto Technology Co Ltd		386
	868,000		Vanguard International Semiconductor Corp		805
	149,583	*,e	Veeco Instruments, Inc		5,733
	655,500	*	Via Technologies, Inc		447
	282,425		Visual Photonics Epitaxy Co Ltd		323
	176,478	*	Volterra Semiconductor Corp		2,506
	298,833		Wafer Works Corp		165
	429,000	*	Walton Advanced Engineering, Inc		126
	540,737		Win Semiconductors Corp		611
	3,787,000	*	Winbond Electronics Corp		741
	49,230	*	Woongjin Energy Co Ltd		109
	1,294,978		Xilinx, Inc		49,429
	100,329		Youngtek Electronics Corp		253
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		2,313,855
SOFTWARE & SERVICES - 7.2%
	233,374	*	Accelrys, Inc		2,278
	3,124,977		Accenture plc		237,405
	233	*	Access Co Ltd		149
	136,633	*	ACI Worldwide, Inc		6,676
	143,609	*,e	Active Network, Inc		602

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	986,565		Activision Blizzard, Inc	$	14,374
	5,300	*,e	Actoz Soft Co Ltd		277
	201,655	*	Actuate Corp		1,210
	373,744	*	Acxiom Corp		7,624
	2,287,140	*	Adobe Systems, Inc		99,513
	119,964	*	Advent Software, Inc		3,355
	4,984	e	Ahnlab, Inc		317
	1,070,864	*	Akamai Technologies, Inc		37,791
	655,714	*,e	Alliance Data Systems Corp		106,154
	297,347		Alpha Systems, Inc		4,271
	56,961		Alten		2,256
	122,277	*	Altran Technologies S.A.		849
	383,996		Amadeus IT Holding S.A.		10,409
	556,728		Amdocs Ltd		20,181
	92,384	e	American Software, Inc (Class A)		769
	126,770	*,e	Angie’s List, Inc		2,505
	323,874	*	Ansys, Inc		26,370
	694,113		AOL, Inc		26,716
	264,387		Argo Graphics, Inc		3,886
	300,000		ASG Group Ltd		131
	692,871	*	Aspen Technology, Inc		22,373
	126,281		Asseco Poland S.A.		1,631
	502,661		Atos Origin S.A.		34,637
	882,810	*	Autodesk, Inc		36,407
	1,453,156		Automatic Data Processing, Inc		94,484
	455,239		Aveva Group plc		15,698
	191,719	*,e	AVG Technologies NV		2,669
	4,275		Axway Software S.A.		81
	31,764		Babylon Ltd		160
	160,135	*,e	Bankrate, Inc		1,912
	38,863	*,e	Bazaarvoice, Inc		284
	37,444		Bechtle AG.		1,741
	17,800	e	Bit-isle, Inc		248
	167,763		Blackbaud, Inc		4,971
	368,457	*,e	Blinkx plc		476
	242,016	*,e	Blucora, Inc		3,746
	411,564	*	BMC Software, Inc		19,068
	109,542	e	Booz Allen Hamilton Holding Co		1,472
	125,932	*	Bottomline Technologies, Inc		3,590
	21,784	*,e	Brightcove, Inc		135
	311,734		Broadridge Financial Solutions, Inc		7,743
	96,334	*,e	BroadSoft, Inc		2,550
	1,197,816		CA, Inc		30,149
	89,459	*,e	CACI International, Inc (Class A)		5,177
	688,811	*	Cadence Design Systems, Inc		9,595
	118,711	*,e	Callidus Software, Inc		543
	542,113		Cap Gemini S.A.		24,704
	103,186	e	Capcom Co Ltd		1,661
	36,728	*,e	Carbonite, Inc		402
	212,312	*	Cardtronics, Inc		5,830
	465,414	e	carsales.com.au Ltd		4,569
	40,057	e	Cass Information Systems, Inc		1,684

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,536		Cegid Group	$	216
	381,798	*	CGI Group, Inc		10,377
	1,060,000	*,e	Chinasoft International Ltd		238
	25,000		Chinese Gamer International Corp		47
	248,968	*	Ciber, Inc		1,170
	517,223	*,e	Citrix Systems, Inc		37,323
	55,620	*,m	Clinical Data, Inc		53
	2,657		CMC Ltd		66
	805,034	*	Cognizant Technology Solutions Corp (Class A)		61,674
	11,933	*,e	Com2uSCorp		551
	210,750	*	Commvault Systems, Inc		17,277
	566,787		Companhia Brasileira de Meios de Pagamento		16,697
	188,908		Computacenter plc		1,553
	810,177		Computer Sciences Corp		39,885
	60,912		Computer Task Group, Inc		1,303
	562,176		Computershare Ltd		5,995
	1,522,156	*	Compuware Corp		19,027
	127,624	*	comScore, Inc		2,142
	76,206	*	Comverse, Inc		2,137
	116,858	*,e	Concur Technologies, Inc		8,023
	317,109	*,e	Constant Contact, Inc		4,116
	457,351		Convergys Corp		7,789
	53,972		Core Projects & Technologies Ltd		51
	126,361	*,e	Cornerstone OnDemand, Inc		4,309
	98,183	*,e	CoStar Group, Inc		10,747
	582,869	e	CSE Global Ltd		407
	204,246	*	CSG Systems International, Inc		4,328
	281,498	e	Cupid plc		368
	53,283	*	CUROCOM Co Ltd		117
	155,252		Cyberlink Corp		500
	15,785	*,e	Danal Co Ltd		179
	38,050	e	Daou Technology, Inc		605
	46,008		Dassault Systemes S.A.		5,323
	17,205	e	Daum Communications		1,415
	160,481	*	DealerTrack Holdings, Inc		4,715
	97,501	*,e	Demand Media, Inc		841
	24,339	*,e	Demandware, Inc		617
	59,589	e	Dena Co Ltd		1,625
	156,419	*,e	Dice Holdings, Inc		1,585
	167	e	Digital Garage, Inc		556
	127,191	*	Digital River, Inc		1,798
	33,006		DMRC Corp		725
	21,551	e	Dragonfly GF Co Ltd		220
	273,600		DST Systems, Inc		19,499
	27,300		DTS Corp		449
	11,080	e	DuzonBIzon Co Ltd		125
	107		Dwango Co Ltd		439
	6,400	*,e	E2open, Inc		128
	669,151		Earthlink, Inc		3,627
	7,019,110	*	eBay, Inc		380,576
	99,661	e	Ebix, Inc		1,617
	93,694		Econocom Group		757

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	925,091	*	Electronic Arts, Inc	$	16,374
	255,627	*	Ellie Mae, Inc		6,148
	176,430		Ementor ASA		1,965
	5,436		Engineering Ingegneria Informatica S.p.A.		210
	70,760	*	Envestnet, Inc		1,239
	18,242	*,e	Envivio, Inc		31
	34,759		EOH Holdings Ltd		188
	48,209	*	EPAM Systems, Inc		1,120
	105,785		EPIQ Systems, Inc		1,484
	16,550		ePlus, Inc		765
	338,522	*,e	Equinix, Inc		73,226
	216,473	*	Euronet Worldwide, Inc		5,702
	13,100	*	EXA Corp		125
	47,922	*,e	ExactTarget, Inc		1,115
	110,823	*	ExlService Holdings, Inc		3,644
	1,504,329	*	Facebook, Inc		38,481
	112,690	e	Factset Research Systems, Inc		10,435
	168,093		Fair Isaac Corp		7,680
	148,104	*	FalconStor Software, Inc		397
	954,467		Fidelity National Information Services, Inc		37,816
	77,885		Fidessa Group plc		2,306
	31,893		Financial Technologies India Ltd		418
	1,069,647	*,e	First American Corp		27,661
	459,205	*	Fiserv, Inc		40,332
	430,167	*	FleetCor Technologies, Inc		32,981
	29,435	*,e	FleetMatics Group plc		714
	50,682		Forrester Research, Inc		1,604
	951,439	*	Fortinet, Inc		22,530
	125,728		F-Secure Oyj		274
	46,400		FUJI SOFT, Inc		1,123
	206		Future Architect, Inc		96
	97,000		Gamania Digital Entertainment Co Ltd		79
	13,393	*,e	GameHi Co Ltd		94
	163,139	*,e	GameLoft		1,067
	8,350	*	Gamevil, Inc		750
	234,408	*	Gartner, Inc		12,754
	312,192		Genpact Ltd		5,679
	617,254		Geodesic Information Systems Ltd		108
	141,205	*,e,m	Gerber Scientific, Inc		0	^
	83,082		GFI Informatique		362
	361,015	*	Global Cash Access, Inc		2,545
	522,855	e	Global Payments, Inc		25,965
	75,303		Glodyne Technoserve Ltd		15
	181,649	*,e	Glu Mobile, Inc		541
	62,300		GMO internet, Inc		593
	10,200		GMO Payment Gateway, Inc		237
	5,265		Golfzon Co Ltd		298
	1,230,252	*	Google, Inc (Class A)		976,857
	17,000		Gourmet Navigator, Inc		216
	350,000	*,e	Gravity Co Ltd (ADR)		448
	240,848	*,e	Gree, Inc		3,034
	26,005		Groupe Steria SCA		352

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,372	*,e	Guidance Software, Inc	$	579
	102,865	*	Guidewire Software, Inc		3,954
	620	*,e	GungHo Online Entertainment Inc		2,648
	14,999		Haansoft, Inc		253
	108,216		Hackett Group, Inc		495
	31,308		HCL Infosystems Ltd		22
	336,197		HCL Technologies Ltd		4,925
	176,808	e	Heartland Payment Systems, Inc		5,829
	314,545		Hexaware Technologies Ltd		491
	115,582	*,e	Higher One Holdings, Inc		1,028
	67,702	e	HIQ International AB		410
	477,298		IAC/InterActiveCorp		21,326
	114,883	*	iGate Corp		2,161
	37,419	*,e	Imperva, Inc		1,441
	225,350	*	Indian Infotech & Software Ltd.		94
	320,560	e	Indra Sistemas S.A.		3,829
	25,605	e	Industrial & Financial Systems		458
	480,493		Ines Corp		3,664
	102,235	*,e	Infoblox, Inc		2,219
	273,111	*	Informatica Corp		9,414
	202,400		Information Development Co		1,092
	39,800		Information Services International-Dentsu Ltd		416
	735,143		Infosys Technologies Ltd		39,226
	6,220	*	Infraware, Inc		64
	82,329	*,e	Innodata Isogen, Inc		284
	1,064,615	*	Innovation Group plc		412
	7,000		Insyde Software Corp		17
	50,315	*	Interactive Intelligence, Inc		2,231
	192,865	*	Internap Network Services Corp		1,803
	4,396,171		International Business Machines Corp		937,703
	91,000		International Games System Co Ltd		277
	27,000		Internet Initiative Japan, Inc		913
	1,784,295		Intuit, Inc		117,139
	195,591	*,e	Ipass, Inc		387
	129,570	e	Iress Market Technology Ltd		1,053
	235,860		IT Holdings Corp		3,084
	47,621	e	Itochu Techno-Science Corp		2,358
	197,456	e	j2 Global, Inc		7,742
	222,463		Jack Henry & Associates, Inc		10,280
	7,374	e	JCEntertainment Corp		115
	54,994	*,e	Jive Software, Inc		836
	4,799	*,e	Joymax Co Ltd		182
	111,000	e	Kakaku.com, Inc		2,795
	51,700		Keynote Systems, Inc		722
	11,067	e	Kginicis Co Ltd		137
	2,704,000	*,e	Kingdee International Software Group Co Ltd		447
	904,000		Kingsoft Corp Ltd		834
	126,394	*,e	Knot, Inc		1,264
	116,231	*	Kofax plc		560
	177,917	e	Konami Corp		3,561
	34,112	*	KT Hitel Co Ltd		332
	433,002		Lender Processing Services, Inc		11,024

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	228,312	*,e	Limelight Networks, Inc	$	470
	328,768	*	LinkedIn Corp		57,883
	224,400	*	Linx S.A.		3,526
	228,647	*	Lionbridge Technologies		885
	90,237	*,e	Liquidity Services, Inc		2,690
	274,045	*,e	Liveperson, Inc		3,722
	4,000	*	Livesense, Inc		187
	88,787	*,e	LogMeIn, Inc		1,706
	63,045		MacDonald Dettwiler & Associates Ltd		4,313
	75,200	e	Macromill, Inc		944
	76,908	*,e	magicJack VocalTec Ltd		1,077
	18,100		Mail.ru (GDR)		501
	130,174	*	Manhattan Associates, Inc		9,671
	80,659	e	Mantech International Corp (Class A)		2,167
	85,184		Marchex, Inc (Class B)		359
	78,441	*,e	Market Leader, Inc		703
	580,221		Mastercard, Inc (Class A)		313,975
	66,035		Matrix IT Ltd		304
	37,052	*,e	Mattersight Corp		159
	170,647		MAXIMUS, Inc		13,647
	47,350	*,e	MeetMe, Inc		108
	370,676		Mentor Graphics Corp		6,691
	14,969	e	Mercadolibre, Inc		1,445
	343,273		Micro Focus International plc		3,584
	201,239	*,e	Micros Systems, Inc		9,158
	31,312,096		Microsoft Corp		895,839
	124,687	*	MicroStrategy, Inc (Class A)		12,603
	40,552	*,e	Millennial Media, Inc		258
	7,400		MindTree Ltd		125
	12,200		Mitsubishi Research Institute, Inc		267
	6,100	e	Mixi Inc		108
	68,844	*,e	Model N, Inc		1,364
	182,424	*	ModusLink Global Solutions, Inc		602
	107,127	*	MoneyGram International, Inc		1,939
	668,517		Moneysupermarket.com Group plc		2,015
	14,500,714	*	Monitise plc		8,152
	140,575	e	Monotype Imaging Holdings, Inc		3,339
	520,782	*,e	Monster Worldwide, Inc		2,640
	186,791	*	Move, Inc		2,232
	2,809	*,e	NCI, Inc (Class A)		14
	17,494	e	NCsoft		2,449
	16,600		NEC Fielding Ltd		212
	91,000		NEC Networks & System Integration Corp		1,784
	12,273		Nemetschek AG.		741
	1,900	*	Neowiz Corp		24
	15,903	*	Neowiz Games Corp		291
	5,740	*	Neowiz Internet Corp		53
	33,617		Net Entertainment NE AB		486
	207,400	e	NET One Systems Co Ltd		1,828
	247,500	e	NetDragon Websoft, Inc		284
	196,783	*	Netscout Systems, Inc		4,835
	93,509	*,e	NetSuite, Inc		7,486

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	673,578	*	NeuStar, Inc (Class A)	$	31,342
	950,700	*	Nexon Co Ltd		9,281
	52,039		NHN Corp		12,580
	263,694		NIC, Inc		5,052
	49,131	*	Nice Systems Ltd		1,807
	169		NIFTY Corp		277
	75,900	e	Nihon Unisys Ltd		625
	10,913		NIIT Ltd		4
	17,491		NIIT Technologies Ltd		91
	125,984		Nintendo Co Ltd		13,619
	46,100		Nippon System Development Co Ltd		523
	231,702		Nomura Research Institute Ltd		5,984
	27,200		NS Solutions Corp		525
	2,166	e	NTT Data Corp		7,152
	778,721	*,e	Nuance Communications, Inc		15,715
	6,300		OBIC Business Consultants Ltd		353
	8,410		Obic Co Ltd		1,950
	100,521	*	Open Text Corp		5,941
	84,378	*,e	OpenTable, Inc		5,314
	104,600	e	Opera Software ASA		670
	22,274,239		Oracle Corp		720,349
	13,991		Oracle Corp Japan		631
	76,421		Otsuka Corp		8,327
	717,700		Pacific Online		270
	807,512	e	Paychex, Inc		28,319
	65,832		PC Home Online		272
	275,000		PCA Corp		3,226
	83,032	e	Pegasystems, Inc		2,332
	163,520	*	Perficient, Inc		1,907
	48,502	*	Pervasive Software, Inc		445
	502,997		Playtech Ltd		4,830
	80,000		Polaris Software Lab Ltd		164
	96,454	e	POSDATA Co Ltd		710
	77,417	*	PRG-Schultz International, Inc		538
	295,929	*	Progress Software Corp		6,741
	23,224	*,e	Proofpoint, Inc		392
	98,887	*	PROS Holdings, Inc		2,687
	14,123		PSI AG. Gesellschaft Fuer Produkte und Systeme der Informationstechnologie		285
	553,185	*	PTC, Inc		14,101
	30,676	e	QAD, Inc (Class A)		394
	501,680	*,e	QLIK Technologies, Inc		12,958
	18,754	*	Qualys, Inc		231
	128,572	*,e	QuinStreet, Inc		768
	269,572	*	Rackspace Hosting, Inc		13,608
	80,305	e	RealNetworks, Inc		619
	126,868	*,e	RealPage, Inc		2,627
	988,730	*,e	Red Hat, Inc		49,990
	14,858		Reply S.p.A.		568
	159,334	*	Responsys, Inc		1,410
	90,891		Rolta India Ltd		110
	34,584	*	Rosetta Stone, Inc		532

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	258,497	*	Rovi Corp	$	5,534
	110,535	*	Saba Software, Inc		879
	1,833,179		Sage Group plc		9,560
	836,255	e	SAIC, Inc		11,331
	577,228	*	Salesforce.com, Inc		103,226
	238,600		Samart Corp PCL		227
	1,428,016		SAP AG.		114,851
	33,048	e	Sapiens International Corp NV		180
	532,075		Sapient Corp		6,486
	1,272,124	*	Satyam Computer Services Ltd		3,012
	20,016		SBSi Co Ltd		274
	88,062	*,e	Sciquest, Inc		2,117
	98,337		SDL plc		589
	102,498	*,e	Seachange International, Inc		1,219
	77,952	*,e	ServiceNow, Inc		2,822
	179,477	*,e	ServiceSource International LLC		1,269
	239,630		Shanghai Baosight Software Co Ltd		320
	9,236	e	SimCorp AS		2,482
	289		Simplex Technology, Inc		104
	205,040	*,e	Sina Corp		9,963
	29,321		SK C&C Co Ltd		2,636
	14,948	*,e	SK Communications Co Ltd		115
	87,475		SMS Management & Technology Ltd		463
	93,089		Software AG.		3,607
	108,540		Soft-World International Corp		184
	437,401	*	SolarWinds, Inc		25,850
	175,232		Solera Holdings, Inc		10,221
	659,667		Sonda S.A.		2,301
	9,506		Sopra Group S.A.		704
	107,260	*	Sourcefire, Inc		6,353
	28,990	*,e	Spark Networks, Inc		204
	219,894	*	Splunk, Inc		8,802
	40,805	*,e	SPS Commerce, Inc		1,741
	214,415	e	Square Enix Co Ltd		2,302
	126,382	*	SS&C Technologies Holdings, Inc		3,789
	50,929	*	Stamps.com, Inc		1,272
	93,070		Sumisho Computer Systems Corp		1,799
	640,000		SUNeVision Holdings Ltd		162
	182,207	*	SupportSoft, Inc		762
	202,409	*	SYKES Enterprises, Inc		3,230
	4,027,118	*	Symantec Corp		99,389
	24,476	*,e	Synacor, Inc		73
	97,740	*	Synchronoss Technologies, Inc		3,033
	708,023	*	Synopsys, Inc		25,404
	81,441		Syntel, Inc		5,499
	19,800	e	Systena Corp		184
	356,000		Systex Corp		433
	225,388	*	TA Indigo Holding Corp		1,433
	773,330	*	Take-Two Interactive Software, Inc		12,489
	108,173	*,e	Tangoe, Inc		1,340
	983,101		Tata Consultancy Services Ltd		28,544
	52,101	*	TechTarget, Inc		255

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	210,282		Tecmo Koei Holdings Co Ltd	$	2,071
	828,123		Telecity Group plc		11,393
	144,844	*	TeleNav, Inc		934
	98,740	*	TeleTech Holdings, Inc		2,094
	88,135	*,e	Temenos Group AG.		2,094
	1,747,800		Tencent Holdings Ltd		55,903
	282,958	*	Teradata Corp		16,556
	3,275		Tessi S.A.		354
	463,925	*	TIBCO Software, Inc		9,381
	153,582	e	Tietoenator Oyj		3,257
	560,201	*	TiVo, Inc		6,941
	717,248		Total System Services, Inc		17,773
	140,100		Totvus S.A.		2,873
	80,200	*	Trans Cosmos, Inc/Japan		1,195
	1,279,999		Travelsky Technology Ltd		844
	63,275	*,e	Travelzoo, Inc		1,352
	43,051	*	Trend Micro, Inc		1,209
	25,961	*	Trulia, Inc		815
	146,027	*	Tyler Technologies, Inc		8,946
	119,763	*	Ubisoft Entertainment		1,296
	97,982	*	Ultimate Software Group, Inc		10,206
	259,500	*,e	Unisys Corp		5,904
	36,234		Unit 4 Agresso NV		1,179
	16,512		United Internet AG.		402
	318,260		United Online, Inc		1,919
	340,046	*,e	Unwired Planet, Inc		755
	563,226		UXC Ltd		725
	404,073	*	Valueclick, Inc		11,940
	348,578	*	Vantiv, Inc		8,275
	125,051	*,e	Vasco Data Security International		1,055
	274,574	*	VeriFone Systems, Inc		5,678
	194,314	*	Verint Systems, Inc		7,102
	940,032	e	VeriSign, Inc		44,445
	148,050	*,e	VirnetX Holding Corp		2,838
	72,408	*	Virtusa Corp		1,720
	2,475,474	e	Visa, Inc (Class A)		420,434
	394,696	*,e	VistaPrint Ltd		15,259
	709,338	*,e	VMware, Inc (Class A)		55,953
	83,880	*	Vocus, Inc		1,187
	287,403	*	WebMD Health Corp (Class A)		6,990
	142,898	*	Websense, Inc		2,143
	122,953	*,e	Website Pros, Inc		2,100
	17,589	*,e	Webzen, Inc		155
	11,460	e	WeMade Entertainment Co Ltd		481
	1,867,644		Western Union Co		28,089
	773,591		Wipro Ltd		6,239
	167,911		Wirecard AG.		4,652
	160,398	*,e	Workday, Inc		9,885
	335,155	*	Xchanging plc		677
	2,100	*	Xoom Corp		48
	79,282	e	Yahoo! Japan Corp		36,574
	7,124,683	*	Yahoo!, Inc		167,644

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	230,303	*	Yandex NV	$	5,325
	27,085	*,e	Yelp, Inc		642
	299,600		YTL E-Solutions BHD		61
	243,594	*,e	Zix Corp		872
	342,515	*,e	Zynga, Inc		1,151
			TOTAL SOFTWARE & SERVICES		8,167,067
TECHNOLOGY HARDWARE & EQUIPMENT - 5.1%
	256,263	*,e	3D Systems Corp		8,262
	55,933	*	3S Korea Co Ltd		446
	61,400	*,e	5N Plus, Inc		129
	1,387,000	e	AAC Technologies Holdings, Inc		6,687
	1,319,292		Accton Technology Corp		773
	2,568,974	*	Acer, Inc		2,240
	15,320		Acme Electronics Corp		20
	114,539	*	Acme Packet, Inc		3,347
	252,370		Adlink Technology, Inc		285
	251,368	e	Adtran, Inc		4,939
	52,403	*	ADVA AG. Optical Networking		243
	332,675		Advantech Co Ltd		1,445
	98,086	*	Agilysys, Inc		975
	49,300		Ai Holdings Corp		455
	3,450,605	*,e	Alcatel S.A.		4,651
	688,000		Alpha Networks, Inc		449
	211,100	*	Alps Electric Co Ltd		1,393
	7,099	*,e	Ambient Corp		17
	693,099		Amphenol Corp (Class A)		51,740
	47,562	*	Anaren, Inc		922
	113,338		Anixter International, Inc		7,925
	242,000		Anritsu Corp		3,794
	4,311,711		Apple, Inc		1,908,492
	498,266		Arcadyan Technology Corp		725
	76,218		Arima Communications Corp		39
	604,134	*	Arris Group, Inc		10,373
	491,104	*	Arrow Electronics, Inc		19,949
	475,259	*,e	Aruba Networks, Inc		11,758
	33,812		Ascom Holding AG.		411
	108,464		Asia Vital Components Co Ltd		56
	162,000		ASROCK, Inc		581
	1,532,801		Asustek Computer, Inc		18,315
	118,000		Aten International Co Ltd		197
	8,813,153		AU Optronics Corp		3,855
	36,235	*	Audience, Inc		553
	30,967		Austria Technologie & Systemtechnik AG.		270
	235,000		AV Tech Corp		738
	2,601,741		Avermedia Technologies		1,226
	108,782	*	Avid Technology, Inc		682
	529,491	*	Avnet, Inc		19,168
	86,981		AVX Corp		1,035
	27,235		Aware, Inc		126
	73,505	*	AX Holding Corp		578
	49,708	e	Axis Communications AB		1,292

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	51,711		Badger Meter, Inc	$	2,768
	37,153		Barco NV		3,256
	57,872	e	Bel Fuse, Inc (Class B)		903
	291,783	*	Benchmark Electronics, Inc		5,258
	2,581,000	*	Benq Corp		645
	76,717		Black Box Corp		1,673
	256,927	*,e	Bookham, Inc		324
	2,732,000		Broad Intelligence International Pharmaceutical Holdings Ltd		596
	2,149,341	*	Brocade Communications Systems, Inc		12,402
	412,378		Brother Industries Ltd		4,271
	123,249	*	Bull S.A.		482
	1,975,000		BYD Electronic International Co Ltd		607
	127,950	*,e	CalAmp Corp		1,404
	9,595,300		CalComp Electronics Thailand PCL		1,199
	270,950	*	Calix Networks, Inc		2,208
	26,100	*	Canon Electronics, Inc		520
	2,330,425		Canon, Inc		85,643
	285,000		Career Technology Co Ltd		365
	1,514,853		Catcher Technology Co Ltd		6,835
	266,000		Catic Shenzhen Holdings Ltd		97
	276,385	*	Celestica, Inc		2,231
	37,029	*	Ceragon Networks Ltd		161
	102,522		Chang Wah Electromaterials, Inc		368
	158,925	*	Checkpoint Systems, Inc		2,076
	442,402		Cheng Uei Precision Industry Co Ltd		839
	54,000	*	Chenming Mold Industry Corp		39
	1,775,665		Chicony Electronics Co Ltd		4,722
	1,104,108		Chimei Materials Technology Corp		1,314
	3,714,000	e	China Aerospace International Holdings Ltd		365
	1,434,000	e	China All Access Holdings Ltd		470
	2,325,000	*	China ITS Holdings Co Ltd		393
	3,472,000		China Wireless Technologies Ltd		1,145
	1,298,000		Chin-Poon Industrial Co		1,530
	533,840		Chroma ATE, Inc		1,288
	2,513,000	*	Chunghwa Picture Tubes Ltd		97
	2,113,318	*	Ciena Corp		33,834
	31,001,755		Cisco Systems, Inc		648,247
	472,084	e	Citizen Watch Co Ltd		2,417
	445,073		Clevo Co		662
	2,783,000	*	CMC Magnetics Corp		491
	166,000	*	CMK Corp		532
	209,362		Cognex Corp		8,825
	94,582		Coherent, Inc		5,367
	1,280,299	e	Comba Telecom Systems Holdings Ltd		436
	469,000	*	Compal Communications, Inc		499
	4,447,648		Compal Electronics, Inc		3,149
	778,000		Compeq Manufacturing Co		287
	67,650		Comtech Telecommunications Corp		1,643
	2,221,000		Coretronic Corp		1,658
	3,666,796		Corning, Inc		48,878
	161,000		Coxon Precise Industrial Co Ltd		347

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	256,649	*	Cray, Inc	$	5,957
	16,824	*,e	CrucialTec Co Ltd		183
	123,050	e	CTS Corp		1,285
	45,000		CyberPower Systems, Inc		93
	315,000		CyberTAN Technology, Inc		263
	143,580		Daeduck Electronics Co		1,452
	16,040		Daeduck GDS Co Ltd		263
	7,800	e	Dai-ichi Seiko Co Ltd		112
	466,000	e	Daiwabo Co Ltd		860
	128,658		Daktronics, Inc		1,351
	266,000		Darfon Electronics Corp		264
	92,955	*,e	Datalink Corp		1,123
	3,011		Datalogic S.p.A.		23
	309,143		DataTec Ltd		1,698
	487,416	*	Daxon Technology, Inc		183
	492,000		DBA Telecommunication Asia Holdings Ltd		287
	2,657,828		Dell, Inc		38,087
	1,538,500		Delta Electronics Thai PCL		1,931
	4,123,064		Delta Electronics, Inc		17,294
	82,000		Denki Kogyo Co Ltd		388
	73,077		Dialight plc		1,438
	96,631		Diebold, Inc		2,930
	99,600	*	Digi International, Inc		889
	2,351,000	e	Digital China Holdings Ltd		3,189
	7,121	*	Digital Multimedia Technologies S.p.A.		218
	7,173	*	Digitech Systems Co Ltd		61
	237,389		Diploma plc		2,022
	744,000		D-Link Corp		434
	93,049	e	Dolby Laboratories, Inc (Class A)		3,123
	147,215		Domino Printing Sciences		1,430
	65,884	*	DTS, Inc		1,096
	320,900		Eastern Communications Co Ltd		134
	133,794	*,e	Echelon Corp		326
	91,644	*	EchoStar Corp (Class A)		3,571
	41,671		Eizo Nanao Corp		737
	96,137		Electro Rent Corp		1,782
	84,637		Electro Scientific Industries, Inc		935
	1,186,441		Electrocomponents plc		4,527
	233,832	*	Electronics for Imaging, Inc		5,930
	798,938		Elite Material Co Ltd		805
	3,025,000		Elitegroup Computer Systems Co Ltd		1,159
	9,670,419	*	EMC Corp		231,026
	355,355	*	Emulex Corp		2,320
	11,200	e	Enplas Corp		517
	168,900		Entire Technology Co Ltd		216
	4,379,396	e	Ericsson (LM) (B Shares)		54,864
	32,407		Esprinet S.p.A.		149
	444,970		Everlight Electronics Co Ltd		718
	26,078		EVS Broadcast Equipment S.A.		1,673
	31,663	*	Exfo Electro Optical Engineering, Inc		161
	327,890	*	Extreme Networks, Inc		1,105
	1,199,723	*	F5 Networks, Inc		106,871

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	78,051	*	Fabrinet	$	1,140
	86,986	*	FARO Technologies, Inc		3,774
	136,386		FEI Co		8,804
	175,000	*	Fingerprint Cards AB		933
	367,319	*,e	Finisar Corp		4,845
	130,810		Firich Enterprises Co Ltd		182
	186,913		FLEXium Interconnect, Inc		623
	257,383		Flir Systems, Inc		6,695
	199,397		Flytech Technology Co Ltd		512
	2,808,000	*,e	Foxconn International Holdings Ltd		1,054
	912,978		Foxconn Technology Co Ltd		2,531
	1,892,982		Fuji Folms Holdings Corp		37,550
	4,752,146		Fujitsu Ltd		19,852
	222,438		Fulltech Fiber Glass Corp		94
	113,201	*,e	Fusion-io, Inc		1,853
	247,153		G Tech Optoelectronics Corp		574
	197,295		Gemalto NV		17,223
	384,913		Gemtek Technology Corp		486
	61,139		GeoVision, Inc		264
	319,000		Getac Technology Corp		165
	20,000	*	Giantplus Technology Co Ltd		6
	1,429,000		Gigabyte Technology Co Ltd		1,299
	228,986		Gigastorage Corp		165
	547,613		Global Brands Manufacture Ltd		202
	86,856	*,e	Globecomm Systems, Inc		1,043
	532,000		Great Wall Technology Co Ltd		99
	138,888	*	GSI Group, Inc		1,185
	30,800		Hakuto Co Ltd		301
	702,687		Halma plc		5,542
	15,534	e	Hamamatsu Photonics KK		616
	502,838		Hannstar Board Corp		237
	3,693,000	*	HannStar Display Corp		576
	557,120	*	Harmonic, Inc		3,226
	306,051		Harris Corp		14,182
	266,603	*	Harris Stratex Networks, Inc (Class A)		898
	7,469,635		Hewlett-Packard Co		178,076
	21,700		Hexagon AB (B Shares)		593
	931,304		High Tech Computer Corp		7,625
	2,372,008	*	Himachal Futuristic Communications		358
	9,100		Hioki EE Corp		138
	323,000		Hi-P International Ltd		186
	30,166	e	Hirose Electric Co Ltd		3,981
	17,930		Hitachi High-Technologies Corp		375
	248,000		Hitachi Kokusai Electric, Inc		2,195
	19,441,737		Hitachi Ltd		113,501
	543,000		Holystone Enterprise Co Ltd		498
	14,929,707		Hon Hai Precision Industry Co, Ltd		41,550
	43,095		Horiba Ltd		1,364
	88,500		Hosiden Corp		521
	197,020	*	Hoya Corp		3,716
	86,090		Humax Co Ltd		953
	123,633	*,e	Ibiden Co Ltd		1,938

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	155,000	*	Ichia Technologies, Inc	$	76
	236,000	*	I-Chiun Precision Industry Co Ltd		163
	10,700		Icom, Inc		272
	80,600		ICP Electronics, Inc		103
	27,360	e	Iljin Materials Co Ltd		277
	118,960	*	Imation Corp		454
	110,757	*,e	Immersion Corp		1,300
	4,951		Inficon Holding AG.		1,462
	376,627	*,e	Infinera Corp		2,636
	404,000		Infortrend Technology, Inc		218
	50,775		Ingenico		3,010
	363,012	*	Ingram Micro, Inc (Class A)		7,144
	6,478,439	*	InnoLux Display Corp		4,014
	236,572	*	Insight Enterprises, Inc		4,878
	4,345,000		Inspur International Ltd		168
	147,433	e	InterDigital, Inc		7,052
	7,059	e	Interflex Co Ltd		256
	271,767	*	Intermec, Inc		2,671
	92,804	*,e	Intevac, Inc		438
	31,822		INTOPS Co Ltd		919
	225,147	*,e	InvenSense, Inc		2,405
	2,700,523		Inventec Co Ltd		1,021
	63,407	e	IPG Photonics Corp		4,211
	31,600		ITC Networks Corp		271
	682,357		ITEQ Corp		783
	71,892	*	Itron, Inc		3,336
	21,751		Ituran Location and Control Ltd		342
	152,127	*	Ixia		3,292
	341,903		Jabil Circuit, Inc		6,318
	11,610	e	Jahwa Electronics Co Ltd		263
	188,000		Japan Aviation Electronics Industry Ltd		1,438
	18,900		Japan Cash Machine Co Ltd		209
	22,000		Japan Digital Laboratory Co Ltd		276
	55,535	*	Japan Radio Co Ltd		166
	3,337,600		JCY International BHD		561
	4,809,560	*	JDS Uniphase Corp		64,304
	111,395		Jenoptik AG.		1,153
	62,700		Jentech Precision Industrial Co Ltd		128
	153,528	*	Jess-Link Products Co Ltd		134
	1,266,000	e	Ju Teng International Holdings Ltd		799
	3,331,844	*	Juniper Networks, Inc		61,772
	51,800	e	Kaga Electronics Co Ltd		442
	1,600		Kanematsu Electronics Ltd		20
	7,429		Kapsch TrafficCom AG.		354
	168,464	*,e	Kemet Corp		1,053
	36,598	*,e	Key Tronic Corp		419
	7,404		Keyence Corp		2,275
	797,500		Kingboard Chemical Holdings Ltd		2,278
	1,500,000	e	Kingboard Laminates Holdings Ltd		662
	1,931,000		Kinpo Electronics		453
	72,200		Koa Corp		690
	1,175,350		Konica Minolta Holdings, Inc		8,619

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,090	*,e	Korea Circuit Co Ltd	$	213
	46,641		Kudelski S.A.		615
	59,337	*	KVH Industries, Inc		805
	126,348	*	Kyocera Corp		11,593
	368,632		Laird Group plc		1,220
	123,862		Largan Precision Co Ltd		3,246
	762		LEM Holding S.A.		473
	9,465,900		Lenovo Group Ltd		9,441
	123,928	e	Lexmark International, Inc (Class A)		3,272
	11,455	*,e	LG Innotek Co Ltd		808
	386,672	*	LG.Philips LCD Co Ltd		11,307
	5,033,361		Lite-On Technology Corp		8,187
	108,273		Littelfuse, Inc		7,346
	560,222	e	Logitech International S.A.		3,803
	43,554	e	Loral Space & Communications, Inc		2,695
	69,000		Lotes Co Ltd		205
	344,975		Lumax International Corp Ltd		812
	24,800		Macnica, Inc		506
	145,000		Marubun Corp		680
	7,300	e	Maruwa Co Ltd		204
	98,494	*,e	Maxwell Technologies, Inc		531
	54,182	*	Measurement Specialties, Inc		2,155
	37,600	*	Meiko Electronics Co		261
	12,100	e	Melco Holdings, Inc		212
	115,363	*	Mercury Computer Systems, Inc		850
	11,289		Mesa Laboratories, Inc		598
	132,803		Methode Electronics, Inc		1,710
	2,653,000		Micro-Star International Co Ltd		1,256
	172,000		MIN AIK Technology Co Ltd		477
	1,731,000		Mitac International		640
	1,000		Mitsui Knowledge Industry Co Ltd		172
	119,400		Mitsumi Electric Co Ltd		664
	286,755	e	Molex, Inc		8,396
	852,284		Motorola, Inc		54,572
	56,965		MTS Systems Corp		3,313
	34,234	*,e	Multi-Fineline Electronix, Inc		528
	249,308		Murata Manufacturing Co Ltd		18,850
	419,850		Nan Ya Printed Circuit Board Corp		457
	458,000		Nanjing Panda Electronics		147
	156,734	e	National Instruments Corp		5,133
	271,354	*	NCR Corp		7,479
	2,151,382		NEC Corp		5,744
	7,300		NEC Mobiling Ltd		485
	84,377	*,e	Neonode, Inc		487
	44,087	e	Neopost S.A.		2,645
	2,781,012	*	NetApp, Inc		94,999
	151,102	*	Netgear, Inc		5,063
	76,000		Newmax Technology Co Ltd		234
	169,368	*	Newport Corp		2,866
	68,026		Nichicon Corp		584
	24,200		Nidec Copal Electronics Corp		117
	19,400		Nihon Dempa Kogyo Co Ltd		200

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,800		Nippon Ceramic Co Ltd	$	347
	183,000	*,e	Nippon Chemi-Con Corp		494
	504,004	e	Nippon Electric Glass Co Ltd		2,517
	52,000		Nohmi Bosai Ltd		412
	2,661,378	e	Nokia Oyj		8,657
	49,087		Nolato AB (B Shares)		761
	27,850		Nortel Networks Netas Telekomunikasyon AS		167
	40,166	*	Numerex Corp		514
	229,905	*,e	OCZ Technology Group, Inc		414
	1,284,000	*	Oki Electric Industry Co Ltd		1,484
	846,753		Omron Corp		21,419
	1,240,000		O-Net Communications Group		285
	81,272	*	Oplink Communications, Inc		1,333
	34,000		Osaki Electric Co Ltd		179
	128,007	*,e	OSI Systems, Inc		7,974
	378,873		Pace plc		1,401
	40,616	*,e	Palo Alto Networks, Inc		2,299
	806,990	*	Pan-International Industrial		676
	71,738	e	Park Electrochemical Corp		1,818
	269,215	*,e	Parkervision, Inc		988
	8,171	*	Parrot S.A.		252
	238,687	e	Partron Co Ltd		5,519
	188,000	*	PAX Global Technology Ltd		43
	42,340		PC Connection, Inc		692
	67,803		PC-Tel, Inc		481
	1,910,317		Pegatron Technology Corp		2,947
	206,232		Pinnacle Technology Holdings Ltd		494
	175,389		Plantronics, Inc		7,750
	220,079	*	Plexus Corp		5,350
	313,475	*	Polycom, Inc		3,473
	21,100		Positivo Informatica S.A.		43
	303,359	*,e	Power-One, Inc		1,259
	917,490		Premier Farnell plc		3,112
	617,100		Prime View International Co Ltd		478
	68,239	*,e	Procera Networks, Inc		811
	6,913,000	*	PT Agis Tbk		324
	481,000	*	PT Erajaya Swasembada Tbk		169
	525,412	*	QLogic Corp		6,095
	9,307,913		Qualcomm, Inc		623,165
	2,936,632		Quanta Computer, Inc		6,504
	356,000		Quanta Storage, Inc		218
	902,316	*,e	Quantum Corp		1,155
	126,396	*,e	Rackable Systems, Inc		1,738
	83,112	*	Radisys Corp		409
	149,380	*,e	RealD, Inc		1,942
	37,087		Redington India Ltd		55
	86,333		Renishaw plc		2,411
	196,000	*,e	Research In Motion Ltd (Canada)		2,911
	48,030		Richardson Electronics Ltd		570
	335,799	e	Ricoh Co Ltd		3,666
	17,600		Riso Kagaku Corp		353
	3,588,000	*	Ritek Corp		464

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	322,089	*,e	Riverbed Technology, Inc	$	4,802
	111,199	*	Rofin-Sinar Technologies, Inc		3,012
	56,495	*	Rogers Corp		2,690
	11,200		Roland DG Corp		163
	134,215	*,e	Ruckus Wireless, Inc		2,819
	78,600		Ryosan Co Ltd		1,526
	32,700		Ryoyo Electro Corp		299
	26,440		Sam Young Electronics Co Ltd		212
	71,495		Samsung Electro-Mechanics Co Ltd		6,445
	46,241		Samsung SDI Co Ltd		5,869
	1,772,824	*	SanDisk Corp		97,505
	158,413	*	Sandvine Corp		313
	381,578	*	Sanmina Corp		4,335
	68,100		Sanshin Electronics Co Ltd		459
	6,022	*,e	Sapphire Technology Co Ltd		192
	105,201	*	Scansource, Inc		2,969
	472,881	e	Seagate Technology, Inc		17,289
	337,100	e	Seiko Epson Corp		3,287
	155,000		Senao International Co Ltd		497
	909,000		Sercomm Corp		1,316
	33,721	e	SFA Engineering Corp		1,830
	308,800		Shanghai Potevio Co Ltd		177
	133,100	*	Shijiazhuang Baoshi Electronic Glass Co Ltd		133
	53,289		Shimadzu Corp		379
	23,200		Shinko Shoji Co Ltd		223
	221,334	*,e	ShoreTel, Inc		803
	67,611	*	Sierra Wireless, Inc		719
	57,000	e	Siix Corp		887
	788,000	*	SIM Technology Group Ltd		30
	314,212		Simplo Technology Co Ltd		1,457
	611,000		Sinbon Electronics Co Ltd		580
	6,498		Sindoh Co Ltd		388
	1,089,000	*	Sintek Photronic Corp		337
	161,000		Sirtec International Co Ltd		210
	106,102		S-MAC Co Ltd/Korea		1,638
	180,000		SMK Corp		510
	823,813	*	Sonus Networks, Inc		2,134
	177,520		Spectris plc		6,628
	837,437		Spirent Communications plc		1,879
	53,100		Star Micronics Co Ltd		526
	154,809	*,e	STEC, Inc		684
	360,310		Sterlite Technologies Ltd		155
	74,985	*,e	Stratasys Ltd		5,565
	238,000		Sunrex Technology Corp		103
	97,957	*	Super Micro Computer, Inc		1,106
	14,356	e	Suprema, Inc		289
	656,686	*	SVA Electron Co Ltd		262
	190,681	*	Symmetricom, Inc		866
	157,066	*,e	Synaptics, Inc		6,391
	199,000		Syncmold Enterprise Corp		367
	88,343	*,e	SYNNEX Corp		3,269
	1,395,323		Synnex Technology International Corp		2,529

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	165,972		Taiflex Scientific Co Ltd	$	203
	275,891		Taiwan PCB Techvest Co Ltd		420
	214,103	e	Taiyo Yuden Co Ltd		2,730
	176,000	e	Tamura Corp		370
	1,031,000		TCL Communication Technology Holdings Ltd		305
	92,176	e	TDK Corp		3,240
	99,134	*	Tech Data Corp		4,521
	750,000	*	Tech Pro Technology Development Ltd		287
	1,512,008		Tellabs, Inc		3,160
	62,057		Telular Corp		624
	29,091		Tessco Technologies, Inc		630
	625,618		Test Research, Inc		1,112
	70,765		TKH Group NV		1,835
	107,000	*,e	Toko, Inc		314
	151,625		Tong Hsing Electronic Industries Ltd		647
	63,400	e	Topcon Corp		585
	1,785		Topoint Technology Co Ltd		1
	13,433,371	e	Toshiba Corp		68,503
	331,000		Toshiba TEC Corp		1,965
	35,900		Toyo Corp/Chuo-ku		525
	1,757,787		TPK Holding Co Ltd		35,191
	2,742,000		Tpv Technology Ltd		781
	817,970	*	Trimble Navigation Ltd		24,506
	384,232		Tripod Technology Corp		858
	5,074,000	e	Truly International Holdings		2,628
	214,582		TT electronics plc		574
	219,309	*	TTM Technologies, Inc		1,667
	512,039		TXC Corp		775
	58,806	e	Ubiquiti Networks, Inc		807
	12,222		U-Blox AG.		622
	211,200		Uchi Technologies BHD		81
	11,326	e	Uju Electronics Co Ltd		286
	83,000	*,e	Uniden Corp		203
	1,310,256		Unimicron Technology Corp		1,352
	253,937		Unitech Printed Circuit Board Corp		80
	139,255	*,e	Universal Display Corp		4,093
	333,795		Venture Corp Ltd		2,332
	135,134	*,e	Viasat, Inc		6,546
	11,639	*,e	Viasystems Group, Inc		152
	1,486,324	*,e	Vishay Intertechnology, Inc		20,229
	50,425	*	Vishay Precision Group, Inc		741
	35,186		Vivotek, Inc		135
	1,634,000		VST Holdings Ltd		427
	197,100	e	Vtech Holdings Ltd		2,408
	3,087		Wacom Co Ltd		11,969
	50,259		Wah Hong Industrial Corp		70
	1,828,767		Wah Lee Industrial Corp		2,606
	476,769	*	Walsin Technology Corp		113
	1,582,000		Wasion Group Holdings Ltd		909
	574,350		Weikeng Industrial Co Ltd		425
	198,508	*	Westell Technologies, Inc		399
	1,255,653		Western Digital Corp		63,134

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	142,800	e	Wi-Lan, Inc	$	579
	87,211		Wincor Nixdorf AG.		4,342
	4,627,462	*	Wintek Corp		2,429
	4,906,370		Wistron Corp		5,384
	815,301		Wistron NeWeb Corp		1,390
	1,714,183		WPG Holdings Co Ltd		1,955
	659,679		WT Microelectronics Co Ltd		773
	308,000	*	WUS Printed Circuit Co Ltd		130
	5,507,811	e	Xerox Corp		47,367
	15,750	*,b,m	Ya Hsin Industrial Co Ltd		0	^
	2,213,000	*	Yageo Corp		712
	76,793		Yamatake Corp		1,600
	161,203	e	Yaskawa Electric Corp		1,624
	152,885		Yokogawa Electric Corp		1,534
	141,000		Young Fast Optoelectronics Co Ltd		273
	80,265	*	Zebra Technologies Corp (Class A)		3,783
	206,100		Zhen Ding Technology Holding Ltd		491
	229,000		Zinwell Corp		187
	707,247	e	ZTE Corp		1,227
	77,859	*	Zygo Corp		1,153
	1,077,000		Zyxel Communications		530
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5,804,872
TELECOMMUNICATION SERVICES - 2.7%
	434,400	*,e	8x8, Inc		2,976
	1,942,200		Advanced Info Service PCL		15,691
	155,879	e	AFK Sistema (GDR)		2,869
	74,785		Allied Technologies Ltd		301
	183,469		Amcon Telecommunications Ltd		344
	59,106,030	e	America Movil S.A. de C.V. (Series L)		62,640
	20,684,908		AT&T, Inc		758,929
	32,413		Atlantic Tele-Network, Inc		1,572
	550,833	*,e	Avanti Communications Group plc		2,578
	1,308,000	*,e	Axtel SAB de CV		397
	418,800	e	BCE, Inc		19,566
	323,845		Belgacom S.A.		8,062
	141,792	e	Bell Aliant Regional Communications Income Fund		3,760
	2,410,413		Bezeq Israeli Telecommunication Corp Ltd		3,345
	2,486,975		Bharti Airtel Ltd		13,375
	56,799	*,e	Boingo Wireless, Inc		314
	15,307,138		BT Group plc		64,651
	3,439,228		Cable & Wireless plc		2,194
	94,126	*	Cbeyond Communications, Inc		699
	62,941		Cellcom Israel Ltd		528
	1,315,561	e	CenturyTel, Inc		46,216
	5,757,021	e	China Communications Services Corp Ltd		3,727
	9,333,290		China Mobile Hong Kong Ltd		98,992
	22,684,389		China Telecom Corp Ltd		11,483
	7,788,401	e	China Unicom Ltd		10,496
	509,933		Chorus Ltd		1,201
	4,628,637		Chunghwa Telecom Co Ltd		14,313
	756,149	*,e	Cincinnati Bell, Inc		2,465

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,375,000		Citic 1616 Holdings Ltd	$	513
	3,282,000	*	Citic 21CN Co Ltd		194
	802,682	*,e	Clearwire Corp (Class A)		2,601
	162,575		Cogent Communications Group, Inc		4,292
	559,538	*	Colt Telecom Group S.A.		1,071
	238,904	e	Consolidated Communications Holdings, Inc		4,193
	856,178	*	Crown Castle International Corp		59,624
	2,221,346		Deutsche Telekom AG.		23,516
	3,857,700		Digi.Com BHD		5,786
	124,675		Drillisch AG.		2,283
	11,442	e	Elisa Oyj (Series A)		213
	194,827		Empresa Nacional de Telecomunicaciones S.A.		4,131
	74,419	*,e	Fairpoint Communications, Inc		556
	2,807,019		Far EasTone Telecommunications Co Ltd		6,366
	1,519,407		France Telecom S.A.		15,396
	304,557		Freenet AG.		7,408
	1,374,566	e	Frontier Communications Corp		5,471
	142,129	*	General Communication, Inc (Class A)		1,303
	38,175		Globe Telecom, Inc		1,123
	26,528	*,e	Hawaiian Telcom Holdco, Inc		612
	294,439	*	Hellenic Telecommunications Organization S.A.		1,780
	58,850	e	HickoryTech Corp		597
	1,782,959		HKT Trust and HKT Ltd		1,786
	3,592,651		Hutchison Telecommunications Hong Kong Holdings Ltd		1,779
	267,358	*	Idea Cellular Ltd		561
	138,432	e	IDT Corp (Class B)		1,669
	231,425		iiNET Ltd		1,256
	21,623		Iliad S.A.		4,600
	185,091	*	inContact, Inc		1,497
	511,213		Inmarsat plc		5,473
	167,463	*,e	Iridium Communications, Inc		1,008
	4,287,800		Jasmine International PCL		962
	539,310	*	Jazztel plc		4,116
	1,188,015		Kcom Group plc		1,466
	341,400	e	KDDI Corp		14,275
	231,322		KT Corp		7,314
	246,190	*,e	Leap Wireless International, Inc		1,450
	4,431,866	*,e	Level 3 Communications, Inc		89,923
	312,366		LG Telecom Ltd		2,257
	52,752	e	Lumos Networks Corp		711
	122,336	e	M2 Telecommunications Group Ltd		628
	755,574		Magyar Telekom		1,315
	253,702	*	Mahanagar Telephone Nigam		86
	96,499		Manitoba Telecom Services, Inc		3,135
	155,025		Maroc Telecom		1,901
	2,465,400		Maxis BHD		5,199
	110,800	*	MegaFon OAO (ADR)		3,435
	588,813	*	MetroPCS Communications, Inc		6,418
	35,941		Millicom International Cellular S.A.		2,872
	776,152	e	Mobile TeleSystems (ADR)		16,097
	508,809		MobileOne Ltd		1,214
	35,495		Mobistar S.A.		799

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,869,422		MTN Group Ltd	$	50,422
	781,847	*	Netia S.A.		1,014
	208,350		Neutral Tandem, Inc		681
	388,100	*,e	NII Holdings, Inc (Class B)		1,680
	649,011		Nippon Telegraph & Telephone Corp		28,336
	103,798		NTELOS Holdings Corp		1,330
	8,202	e	NTT DoCoMo, Inc		12,193
	616,982		Oi S.A.		2,122
	1,813,090		Oi S.A.(Pref)		5,473
	3,534,686	*	Orascom Telecom Holding SAE		2,291
	3,537,903		Orascom Telecom Media And Technology Holding SAE		374
	131,249	*,e	Orbcomm, Inc		684
	108,076		Partner Communications		673
	8,737,161		PCCW Ltd		4,059
	76,307		Philippine Long Distance Telephone Co		5,530
	389,640	e	Portugal Telecom SGPS S.A.		1,932
	211,997	*	Premiere Global Services, Inc		2,330
	69,997	e	Primus Telecommunications Group, Inc		773
	2,330,000		PT Excelcomindo Pratama		1,262
	1,355,176		PT Indosat Tbk		908
	21,483,421		PT Telekomunikasi Indonesia Tbk (Series B)		24,383
	109,837		QSC AG.		369
	626,150		Reliance Communication Ventures Ltd		640
	678,972	e	Rogers Communications, Inc (Class B)		34,682
	305,880	e	Rostelecom (ADR)		7,327
	974,921	e	Royal KPN NV		3,284
	1,221,908	*,e	SBA Communications Corp (Class A)		88,002
	131,425	e	Shenandoah Telecom Co		2,002
	7,003,773		Singapore Telecommunications Ltd		20,307
	300,866	*	SK Broadband Co Ltd		1,127
	54,370		SK Telecom Co Ltd		8,836
	1,635,389	e	SmarTone Telecommunications Holding Ltd		2,701
	1,522,692		Softbank Corp		70,153
	268,376	e	Sonaecom - SGPS S.A.		579
	5,475,657	*	Sprint Nextel Corp		34,004
	775,321	e	StarHub Ltd		2,726
	35,135		Swisscom AG.		16,272
	2,869,643		Taiwan Mobile Co Ltd		9,712
	1,277,337		TalkTalk Telecom Group plc		5,287
	1,040,490	*	Tata Teleservices Maharashtra Ltd		151
	4,553,174		TDC AS		35,045
	264,892		Tele2 AB (B Shares)		4,620
	6,184,261		Telecom Corp of New Zealand Ltd		12,138
	434,272		Telecom Egypt		845
	6,311,305		Telecom Italia RSP		3,891
	4,605,732		Telecom Italia S.p.A.		3,248
	613,417		Telefonica Brasil S.A.		16,377
	148,710		Telefonica O2 Czech Republic AS		2,241
	3,786,805	*	Telefonica S.A.		51,306
	22,440		Telekom Austria AG.		147
	1,408,800		Telekom Malaysia BHD		2,452
	831,793		Telekomunikacja Polska S.A.		1,703

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,281,281		Telenor ASA	$	28,211
	135,322		Telephone & Data Systems, Inc		2,851
	4,223,537	e	TeliaSonera AB		30,165
	192,672		Telkom S.A. Ltd		315
	11,401,461		Telstra Corp Ltd		53,611
	162,829		TELUS Corp		11,246
	398,400	*	Thaicom PCL		481
	1,325,008		Tim Participacoes S.A.		5,849
	754,720		Time dotCom BHD		959
	3,806,000		TM International BHD		8,146
	200,000		Total Access Communication PCL (NVDR)		649
	4,115,000		Tower Bersama Infrastructure		2,565
	159,885	*,e	Towerstream Corp		357
	506,705		TPG Telecom Ltd		1,668
	8,406		Tulip Telecom Ltd		1
	671,205		Turk Telekomunikasyon AS		2,976
	1,242,693		Turkcell Iletisim Hizmet AS		8,328
	571,800	*	tw telecom inc (Class A)		14,404
	50,763	*,e	US Cellular Corp		1,827
	76,117		USA Mobility, Inc		1,010
	11,609,678	e	Verizon Communications, Inc		570,616
	616,796		Vivendi Universal S.A.		12,760
	858,911		Vodacom Group Pty Ltd		10,264
	56,773,462		Vodafone Group plc		161,105
	497,896		Vodafone Group plc (ADR)		14,145
	608,206	*,e	Vonage Holdings Corp		1,758
	795,105	e	Windstream Corp		6,321
	106,763		Ziggo NV		3,756
			TOTAL TELECOMMUNICATION SERVICES		3,034,883
TRANSPORTATION - 2.3%
	937,148	e	Abertis Infraestructuras S.A. (Continuous)		15,790
	25,328		Aeroports de Paris		2,149
	53,088	*,e	Air Berlin plc		161
	9,513,900	e	Air China Ltd		8,476
	274,540	*,e	Air France-KLM		2,596
	889,149	e	Air New Zealand Ltd		1,143
	194,348	*,e	Air Transport Services Group, Inc		1,133
	3,556,100		AirAsia BHD		3,287
	145,900		Airports of Thailand PCL		612
	330,558	*	Alaska Air Group, Inc		21,142
	652,552		All America Latina Logistica S.A.		3,262
	3,508,324	e	All Nippon Airways Co Ltd		7,240
	53,279		Allegiant Travel Co		4,730
	46,887		Amerco, Inc		8,137
	1,042,000		Anhui Expressway Co		533
	1,390,960		Ansaldo STS S.p.A.		13,931
	1,042		AP Moller - Maersk AS (Class A)		7,818
	1,804		AP Moller - Maersk AS (Class B)		14,159
	101,237	e	Arkansas Best Corp		1,182
	205,900		Arteris S.A.		2,314
	1,766,528		Asciano Group		10,306

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	165,040	*	Asiana Airlines	$	849
	100,972	*	Atlas Air Worldwide Holdings, Inc		4,116
	1,698,645		Auckland International Airport Ltd		4,192
	1,058,133		Australian Infrastructure Fund		3,371
	120,178		Autostrada Torino-Milano S.p.A.		1,406
	530,060		Autostrade S.p.A.		8,395
	369,489	*	Avis Budget Group, Inc		10,283
	989,200		Bangkok Expressway PCL		1,346
	331,000	*	Bangkok Metro PCL		13
	715,340		BBA Aviation plc		2,804
	3,439,600		Beijing Capital International Airport Co Ltd		2,511
	222,414		Brisa-Auto Estradas de Portugal S.A.		599
	1,042,128	*	Brockman Mining Ltd		63
	1,181,772		BTS Group Holdings PCL		368
	754,916	e	Canadian National Railway Co		75,874
	189,830	e	Canadian Pacific Railway Ltd		24,767
	860,523		Canadian Pacific Railway Ltd (Toronto)		112,274
	1,117,624		Cathay Pacific Airways Ltd		1,917
	375,290		Cebu Air, Inc		625
	80,711	*	Celadon Group, Inc		1,684
	14,613		Celebi Hava Servisi		171
	285,200		Central Japan Railway Co		30,135
	684,195		CH Robinson Worldwide, Inc		40,682
	2,466,737		China Airlines		960
	1,584,630		China Merchants Holdings International Co Ltd		5,219
	5,242,400	*,e	China Shipping Container Lines Co Ltd		1,426
	1,686,300	e	China Shipping Development Co Ltd		822
	8,548,700	e	China Southern Airlines Co Ltd		4,893
	254,000		Chinese Maritime Transport Ltd		306
	1,522,148		Cia de Concessoes Rodoviarias		15,472
	51,400		Cia de Locacao das Americas		311
	13,380		Clarkson plc		316
	3,356,631		ComfortDelgro Corp Ltd		5,180
	12,985		Compagnie Maritime Belge S.A.		255
	8,170,245	*	Compania SudAmericana de Vapores S.A.		831
	115,688		Con-Way, Inc		4,073
	235,286	e	Copa Holdings S.A. (Class A)		28,143
	3,488,775	*,e	COSCO Holdings		1,653
	3,427,927		COSCO Pacific Ltd		4,963
	350,000		Costamare, Inc		5,561
	4,681,037	e	CSX Corp		115,294
	580,000		CWT Ltd		724
	27,626		D/S Norden		891
	173,000	*,e	Daiichi Chuo Kisen Kaisha		220
	892,050		Dazhong Transportation Group Co Ltd		550
	4,928,936	*	Delta Air Lines, Inc		81,377
	424,762		Deutsche Lufthansa AG.		8,308
	3,046,758		Deutsche Post AG.		70,312
	6,580		Dfds AS		388
	159,906	e	DSV AS		3,870
	822,525		East Japan Railway Co		67,708
	351,036		easyJet plc		5,776

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	48,935	*	Echo Global Logistics, Inc	$	1,082
	338,334		EcoRodovias Infraestrutura e Logistica S.A.		2,912
	1,630,272		Eva Airways Corp		965
	294,000		Evergreen International Storage & Transport Corp		202
	2,002,322	*	Evergreen Marine Corp Tawain Ltd		1,194
	4,200		Exchange Income Corp		116
	1,084,113		Expeditors International of Washington, Inc		38,714
	1,727,712		FedEx Corp		169,661
	1,251,809		Firstgroup plc		3,832
	12,314		Flughafen Wien AG.		734
	4,448		Flughafen Zuerich AG.		2,070
	154,080		Forward Air Corp		5,746
	30,553		Fraport AG. Frankfurt Airport Services Worldwide		1,715
	299,193		Freightways Ltd		1,135
	193,000	e	Fukuyama Transporting Co Ltd		1,107
	6,917		Gateway Distriparks Ltd		16
	1,753,152	*	Gemina S.p.A.		2,950
	105,796	*,e	Genco Shipping & Trading Ltd		305
	168,867	*	Genesee & Wyoming, Inc (Class A)		15,723
	213,493		Globaltrans Investment plc (GDR)		3,369
	18,019		GLOVIS Co Ltd		3,125
	84,631		Go-Ahead Group plc		1,895
	122,206		Gol Linhas Aereas Inteligentes S.A.		714
	433,000	*,e	Golden Ocean Group Ltd		419
	1,115,517		Grindrod Ltd		2,426
	397,064		Groupe Eurotunnel S.A.		3,165
	19,300	*	Grupo Aeromexico SAB de C.V.		29
	205,500	e	Grupo Aeroportuario del Centro Norte Sab de C.V.		829
	816,891	e	Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		4,816
	390,500	e	Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		5,306
	303,560		Guangdong Provincial Expressway Development Co Ltd		106
	1,214,000	e	GZI Transportation Ltd		636
	132,000		Hainan Meilan International Airport Co Ltd		121
	28,349		Hamburger Hafen und Logistik AG.		619
	119,890	*,e	Hanjin Shipping Co Ltd		1,143
	22,140	*	Hanjin Shipping Holdings Co Ltd		108
	4,330		Hanjin Transportation Co Ltd		94
	1,095,000	e	Hankyu Hanshin Holdings, Inc		6,612
	182,422	*,e	Hawaiian Holdings, Inc		1,051
	294,603		Heartland Express, Inc		3,930
	5,531,869	*	Hertz Global Holdings, Inc		123,139
	52,200	e	Hitachi Transport System Ltd		827
	7,585		Hopewell Highway Infrastructure Ltd		4
	208,654	*	Hub Group, Inc (Class A)		8,025
	8,601,294	e	Hutchison Port Holdings Trust		7,339
	48,541	*,e	Hyundai Merchant Marine Co Ltd		627
	141,257	e	Iino Kaiun Kaisha Ltd		1,066
	2,448,293	*	International Consolidated Airlines		9,445
	1,916,880		International Container Term Services, Inc		4,323
	19,967		International Shipholding Corp		363
	37,292		Irish Continental Group plc		949

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	638,987		J.B. Hunt Transport Services, Inc	$	47,592
	113,100		Japan Airlines Co Ltd		5,268
	43,155	e	Japan Airport Terminal Co Ltd		584
	43,602	*	Jet Airways India Ltd		416
	876,451	*,e	JetBlue Airways Corp		6,048
	1,893,800		Jiangsu Express		1,899
	166,000	*	Jinzhou Port Co Ltd		66
	99,500		Julio Simoes Logistica S.A.		808
	491,683		Kamigumi Co Ltd		4,524
	750,891		Kansas City Southern Industries, Inc		83,274
	2,914,400	*,e	Kawasaki Kisen Kaisha Ltd		6,241
	374,963	e	Keihin Electric Express Railway Co Ltd		3,917
	93,104		Keio Corp		800
	192,128		Keisei Electric Railway Co Ltd		2,030
	1,191,487	e	Kintetsu Corp		5,556
	16,400		Kintetsu World Express, Inc		610
	137,560	*	Kirby Corp		10,565
	211,292		Knight Transportation, Inc		3,402
	49,605		Koninklijke Vopak NV		2,992
	45,294	*	Korean Air Lines Co Ltd		1,658
	41,237		Kuehne & Nagel International AG.		4,502
	312,391		Lan Airlines S.A.		6,769
	193,878	e	Landstar System, Inc		11,068
	393,700	*	LLX Logistica S.A.		409
	167,592		Localiza Rent A Car		2,994
	42,200	*	Log-in Logistica Intermodal S.A.		196
	534,593	*	Macquarie Atlas Roads Group		870
	133,033		Mainfreight Ltd		1,259
	351,499		Malaysia Airports Holdings BHD		657
	344,500	*	Malaysian Airline System BHD		83
	246,800		Malaysian Bulk Carriers BHD		126
	98,997		Marten Transport Ltd		1,993
	117,000		Maruzen Showa Unyu Co Ltd		432
	134,803		Matson, Inc		3,316
	259,513		Mermaid Marine Australia Ltd		1,019
	1,112,400		MISC BHD		1,929
	88,556		Mitsubishi Logistics Corp		1,643
	986,358	*	Mitsui OSK Lines Ltd		3,264
	123,610	e	Mitsui-Soko Co Ltd		766
	894,108		MTR Corp		3,558
	831,720		Mundra Port and Special Economic Zone Ltd		2,130
	521,818		National Express Group plc		1,627
	1,274,908	*,e	Neptune Orient Lines Ltd		1,223
	1,394,134		Nippon Express Co Ltd		6,685
	135,700		Nippon Konpo Unyu Soko Co Ltd		2,158
	2,025,606	*,e	Nippon Yusen Kabushiki Kaisha		5,221
	96,000		Nissin Corp		276
	478,196		Norfolk Southern Corp		36,859
	200,424		Northgate plc		952
	45,836	*	Norwegian Air Shuttle AS		1,669
	116,263	e	Odakyu Electric Railway Co Ltd		1,449
	77,910		Oesterreichische Post AG.		3,353

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	347,570	*	Old Dominion Freight Line	$	13,277
	159,976		Orient Overseas International Ltd		1,084
	160,455	*	Pacer International, Inc		807
	2,203,290		Pacific Basin Shipping Ltd		1,312
	17,556		Panalpina Welttransport Holding AG.		1,550
	32,304	*	Park-Ohio Holdings Corp		1,070
	27,530	*	Patriot Transportation Holding, Inc		766
	1,096,800		Pos Malaysia & Services Holdings BHD		1,502
	550,600		Precious Shipping PCL		336
	12,753,500	*,m	PT Berlian Laju Tanker Tbk		0	^
	5,374,000		PT Cardig Aero Services Tbk		415
	392,000		PT Citra Marga Nusaphala Persada Tbk		74
	9,555,000	*	PT Garuda Indonesia Tbk		640
	6,121,000		PT Jasa Marga Tbk		3,757
	7,139,000		PT Trada Maritime Tbk		1,024
	1,425,030	*	Qantas Airways Ltd		2,657
	1,881,326		QR National Ltd		7,914
	71,381	*,e	Quality Distribution, Inc		600
	573,761		Qube Logistics Holdings Ltd		1,014
	65,673	*,e	Rand Logistics, Inc		402
	215,210	*	Republic Airways Holdings, Inc		2,484
	458,000		Road King Infrastructure		433
	87,657	*	Roadrunner Transportation Services Holdings, Inc		2,016
	46,434		Ryanair Holdings plc		355
	374,465		Ryanair Holdings plc (ADR)		15,645
	209,733		Ryder System, Inc		12,532
	534,000		Sagami Railway Co Ltd		1,995
	79,972	*	Saia, Inc		2,893
	96	*,m	SAir Group		0	^
	398,000		Sankyu, Inc		1,806
	184,900		Santos Brasil Participacoes S.A.		2,763
	232,067	*,e	SAS AB		483
	27,060		Sebang Co Ltd		451
	480,287		Seino Holdings Corp		4,170
	249,000	e	Senko Co Ltd		1,300
	499,600	m	Shandong Airlines Co Ltd		344
	229,100	m	Shanghai Jinjiang International Investment Holdings Co		183
	141,400		Shenzhen Chiwan Petroleum		251
	259,100	m	Shenzhen Chiwan Wharf Holdings Ltd		433
	1,768,000	e	Shenzhen Expressway Co Ltd		664
	14,295,000	e	Shenzhen International Holdings		1,717
	58,000	e	Shibusawa Warehouse Co Ltd		357
	388,006		Shih Wei Navigation Co Ltd		267
	118,000	*	Shinwa Kaiun Kaisha Ltd		207
	1,886,500	e	Shun TAK Holdings Ltd		1,018
	1,832,000	*,e	Sichuan Expressway Co Ltd		593
	480,000		Sincere Navigation		433
	612,005		Singapore Airlines Ltd		5,376
	1,602,000		Singapore Airport Terminal Services Ltd		3,929
	3,807,419		Singapore Post Ltd		3,824
	3,612,000		Sinotrans Ltd		755
	2,700,000		Sinotrans Shipping Ltd		722

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,451,000		SITC International Co Ltd	$	929
	16,344		Sixt AG.		321
	35,027		Sixt AG. (Preference)		591
	122,768	*	Skymark Airlines, Inc		482
	258,474		Skywest, Inc		4,148
	1,051,000	e	SMRT Corp Ltd		1,340
	11,065,075	*	Sociedad Matriz SAAM S.A.		1,267
	176,030	e	Societa Iniziative Autostradali e Servizi S.p.A.		1,652
	2,044,142	e	Southwest Airlines Co		27,555
	2,535,899	*	SpiceJet Ltd		1,246
	227,491	*,e	Spirit Airlines, Inc		5,769
	957,374		Stagecoach Group plc		4,527
	394,593	e	Stobart Group Ltd		483
	45,233	e	Stolt-Nielsen S.A.		902
	73,400	e	Student Transportation, Inc		470
	107,890		STX Pan Ocean Co Ltd		444
	180,767		Sumitomo Warehouse Co Ltd		1,252
	463,735	*,e	Swift Transportation Co, Inc		6,576
	673,998		Sydney Airport		2,304
	516,000		T.Join Transportation Co		809
	214,000		Taiwan Navigation Co Ltd		166
	704,018		TAV Havalimanlari Holding AS		4,537
	55,000		Tegma Gestao Logistica		871
	97,580		Thoresen Thai Agencies PCL		59
	5,676,000		Tianjin Port Development Holdings Ltd		843
	580,000	*,e	Tiger Airways Holdings Ltd		319
	345,543		TNT Express NV		2,534
	524,566		TNT NV		1,051
	757,534	e	Tobu Railway Co Ltd		4,349
	1,709,170	e	Tokyu Corp		12,644
	600,800		Toll Holdings Ltd		3,723
	46,500		TPI-Triunfo Participacoes e Investimentos S.A.		279
	208,000		Transasia Airways Corp		102
	195,623		TransForce, Inc		4,217
	1,034,108		Transurban Group		6,876
	2,203,508	*	Turk Hava Yollari		9,017
	1,940,954	*	UAL Corp		62,130
	1,277,100		U-Ming Marine Transport Corp		1,975
	2,443,299		Union Pacific Corp		347,950
	2,524,004		United Parcel Service, Inc (Class B)		216,812
	32,570	e	Universal Truckload Services, Inc		760
	621,892	*,e	US Airways Group, Inc		10,553
	545,106		UTI Worldwide, Inc		7,893
	67,336	*	Virgin Australia Holdings Ltd		29
	67,336	*,m	Virgin Australia Int Holdings		0	^
	11,668		VTG AG.		200
	57,856	*	Vueling Airlines S.A.		684
	964,057	*	Wan Hai Lines Ltd		512
	161,442		Werner Enterprises, Inc		3,897
	76,540	*,e	Wesco Aircraft Holdings, Inc		1,127
	326,792	e	West Japan Railway Co		15,722
	43,600		Westshore Terminals Investment Corp		1,225

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	113,765		Wilh. Wilhelmsen ASA	$	998
	347,550		Wisdom Marine Lines Co Ltd		470
	6,434,000		Xiamen International Port Co Ltd		871
	1,111,000		Xiangyu Dredging Holdings Ltd		231
	62,073	*,e	XPO Logistics, Inc		1,045
	282,157		Yamato Transport Co Ltd		5,118
	1,498,415		Yang Ming Marine Transport		687
	20,400		Yusen Air & Sea Service Co Ltd		225
	4,740,300		Zhejiang Expressway Co Ltd		3,750
			TOTAL TRANSPORTATION		2,549,970
UTILITIES - 3.2%
	1,610,254		A2A S.p.A.		959
	2,629,531		Aboitiz Power Corp		2,384
	18,182		Acciona S.A.		995
	906,017		ACEA S.p.A.		4,819
	234,996		Actelios S.p.A.		255
	2,690,201		AES Corp		33,816
	3,514,843		AES Gener S.A.		2,409
	146,244		AES Tiete S.A.		1,418
	348,364	*,m	AET&D Holdings No 1 Ptd Ltd		0	^
	501,628		AGL Energy Ltd		8,304
	209,451		AGL Resources, Inc		8,786
	2,157,976		Aguas Andinas S.A.		1,740
	42,810	*	Akenerji Elektrik Uretim AS		42
	22,453		Alerion Industries S.p.A.		109
	169,025		Algonquin Power & Utilities Corp		1,238
	136,335		Allete, Inc		6,683
	291,277		Alliant Energy Corp		14,616
	303,709		Ameren Corp		10,636
	61,141	*,e	American DG Energy, Inc		128
	1,395,214		American Electric Power Co, Inc		67,849
	128,062		American States Water Co		7,373
	1,221,133		American Water Works Co, Inc		50,604
	1,077,970		APA Group		6,707
	195,614		Aqua America, Inc		6,150
	32,469		Artesian Resources Corp		730
	83,177	*	Ascopiave S.p.A.		152
	85,097	e	Atco Ltd		7,700
	596,287	e	Atlantic Power Corp		2,940
	142,834	e	Atlantic Power Corp (Toronto)		703
	121,037		Atmos Energy Corp		5,167
	329,475		Avista Corp		9,028
	999,923	*	Babcock & Brown Wind Partners		281
	5,004,000	e	Beijing Enterprises Water Group Ltd		1,493
	72,135	*	BF Utilities Ltd		256
	2,324,000	*	Binhai Investment Co Ltd		126
	19,553		BKW S.A.		693
	248,097		Black Hills Corp		10,926
	45,395	*	Boralex, Inc		476
	60,971	*,e	Cadiz, Inc		412
	272,837		California Water Service Group		5,429

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,545,596	*	Calpine Corp	$	114,239
	115,465		Canadian Utilities Ltd		9,151
	95,500	e	Capital Power Corp		1,993
	5,500,590		Centerpoint Energy, Inc		131,794
	330,541		Centrais Eletricas Brasileiras S.A.		1,143
	290,124		Centrais Eletricas Brasileiras S.A. (Preference)		1,823
	16,900		Centrais Eletricas de Santa Catarina S.A.		200
	5,575,596		Centrica plc		31,210
	30,864		CESC Ltd		151
	386,847	*	CEZ AS		11,322
	55,276		CH Energy Group, Inc		3,614
	244,853	m	Challenger Infrastructure Fund		3
	57,804		Chesapeake Utilities Corp		2,835
	572,852	e	Cheung Kong Infrastructure Holdings Ltd		3,937
	1,018,000		China Datang Corp Renewable Power Co Ltd		192
	4,401,400		China Gas Holdings Ltd		4,396
	4,928,200		China Longyuan Power Group Corp		4,486
	5,300,000	*,e	China Oil and Gas Group Ltd		1,046
	13,784,000	e	China Power International Development Ltd		4,453
	8,540,000	*,e	China Power New Energy Development Co Ltd		513
	1,939,300		China Resources Gas Group Ltd		5,398
	2,777,899	e	China Resources Power Holdings Co		8,321
	2,302,000		China Water Affairs Group Ltd		698
	696,742	e	Chubu Electric Power Co, Inc		8,486
	251,591	e	Chugoku Electric Power Co, Inc		3,288
	206,573		Cia de Saneamento Basico do Estado de Sao Paulo		9,855
	78,400		Cia de Saneamento de Minas Gerais-COPASA		1,915
	97		Cia de Transmissao de Energia Electrica Paulista		2
	1,057,486		Cia Energetica de Minas Gerais		12,361
	456,671		Cia Energetica de Sao Paulo (Class B)		4,599
	78,200		Cia Energetica do Ceara		1,935
	137,419		Cia Paranaense de Energia		2,103
	227,419		Cleco Corp		10,696
	2,019,883		CLP Holdings Ltd		17,707
	1,182,537		CMS Energy Corp		33,040
	16,936,399		Colbun S.A.		5,181
	32,896		Connecticut Water Service, Inc		962
	679,737		Consolidated Edison, Inc		41,484
	62,438	e	Consolidated Water Co, Inc		618
	2,466,423	e	Contact Energy Ltd		11,767
	334,640		CPFL Energia S.A.		3,494
	5,336,800	e	Datang International Power Generation Co Ltd		2,360
	25,541	e	Delta Natural Gas Co, Inc		558
	2,036,466		Dominion Resources, Inc		118,482
	2,241,424		Drax Group plc		20,882
	712,882		DTE Energy Co		48,718
	2,062,274	e	DUET Group		4,933
	3,537,674		Duke Energy Corp		256,800
	3,888,809		E.ON AG.		68,045
	6,799		E1 Corp		433
	1,891,819		Edison International		95,196
	366,701		EDP - Energias do Brasil S.A.		2,290

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	195,559		El Paso Electric Co	$	6,581
	87,341	e	Electric Power Development Co		2,223
	712,888		Electricite de France		13,675
	75,052		Eletropaulo Metropolitana de Sao Paulo S.A.		367
	32,841		Elia System Operator S.A.		1,406
	199,920		Empire District Electric Co		4,478
	795,610		Empresa Electrica del Norte Grande S.A.		1,697
	4,520,170		Empresa Nacional de Electricidad S.A.		8,012
	482,078		Enagas		11,243
	619,674		Endesa S.A.		13,102
	226,611		Enea S.A.		1,033
	2,146,548		Enel Green Power S.p.A		4,034
	4,812,618		Enel S.p.A.		15,780
	2,675,093		Energias de Portugal S.A.		8,244
	1,024,060	*,e	Energy World Corp Ltd		396
	34,309,834		Enersis S.A.		13,306
	2,198,918		Entergy Corp		139,060
	1,951,263		Envestra Ltd		2,145
	732,000	e	Epure International Ltd		325
	278,447		Equatorial Energia S.A.		2,797
	1,206,894	*	esure Group plc		5,501
	41,535		EVN AG.		602
	4,625,841		Exelon Corp		159,499
	425,000		Federal Grid Co Unified Energy System JSC (ADR)		1,067
	2,298,200	*	First Gen Corp		1,394
	804,250		First Philippine Holdings Corp		2,064
	1,373,064		FirstEnergy Corp		57,943
	251,949	e	Fortis, Inc		8,470
	1,560,067	e	Fortum Oyj		31,469
	624,311		GAIL India Ltd		3,660
	267,500		Gas Malaysia BHD		246
	1,299,754		Gas Natural SDG S.A.		23,064
	3,122,635		Gaz de France		59,989
	79,554	e	Genie Energy Ltd		737
	635,200		Glow Energy PCL		1,610
	170,418		Great Plains Energy, Inc		3,952
	140,000		Great Taipei Gas Co Ltd		101
	3,898,700	e	Guangdong Investments Ltd		3,428
	2,050		Gujarat Gas Co Ltd		9
	194,239		Gujarat State Petronet Ltd		240
	2,353,042	*	GVK Power & Infrastructure Ltd		398
	120,271	e	Hawaiian Electric Industries, Inc		3,333
	1,107,682		Hera S.p.A.		1,954
	407,595	*	Hokkaido Electric Power Co, Inc		4,169
	118,573	e	Hokuriku Electric Power Co		1,465
	4,774,254		Hong Kong & China Gas Ltd		13,948
	3,084,788		Hong Kong Electric Holdings Ltd		29,154
	1,137,130	*	Huadian Energy Co Ltd		334
	8,500,300	e	Huaneng Power International, Inc		9,074
	723,000	e	Hyflux Ltd		853
	4,713,607		Iberdrola S.A.		22,035
	182,109		Idacorp, Inc		8,790

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	93,977	*	IDGC Holding JSC (GDR)	$	996
	442,307	*	Indiabulls Infrastructure and Power Ltd		37
	30,672		Indraprastha Gas Ltd		156
	95,964	*	Infraestructura Energetica ,NV SAB de C.V.		306
	1,568,726	e	Infratil Ltd		3,163
	116,551		Innergex Renewable Energy, Inc		1,106
	97,691		Integrys Energy Group, Inc		5,682
	451,683		Interconexion Electrica S.A.		2,227
	884,207		Inversiones Aguas Metropolitanas S.A.		1,863
	554,950		Iride S.p.A.		414
	604,000		Isagen S.A. ESP		840
	161,537	e	ITC Holdings Corp		14,419
	219,725	e	Just Energy Income Fund		1,443
	839,671	*	Kansai Electric Power Co, Inc		7,962
	7,113	e	Korea District Heating Corp		619
	337,380	*	Korea Electric Power Corp		9,211
	16,990		Korea Electronic Power Industrial Development Co Ltd		74
	70,431		Korea Gas Corp		4,424
	347,599	*,e	Kyushu Electric Power Co, Inc		3,544
	81,089	e	Laclede Group, Inc		3,462
	206,100		Light S.A.		2,040
	154,871		Macquarie Power & Infrastructure Income Fund		648
	260,400	*	Magma Energy Corp		79
	7		Manila Electric Co		0	^
	1,428,200		Manila Water Co, Inc		1,403
	341,219		MDU Resources Group, Inc		8,527
	80,788		MGE Energy, Inc		4,479
	62,793		Middlesex Water Co		1,226
	189,700	*	MPX Energia S.A.		892
	131,426	e	National Fuel Gas Co		8,063
	9,463,390		National Grid plc		109,962
	152,026	e	New Jersey Resources Corp		6,818
	1,330,542		NextEra Energy, Inc		103,356
	841,759		NiSource, Inc		24,697
	1,276,204		Northeast Utilities		55,464
	98,359	e	Northland Power Income Fund		1,791
	96,881		Northwest Natural Gas Co		4,245
	186,146		NorthWestern Corp		7,420
	1,784,272		NRG Energy, Inc		47,265
	1,628,306		NTPC Ltd		4,259
	1,015,703		NV Energy, Inc		20,345
	60,936	e	Oest Elektrizitatswirts AG. (Class A)		1,324
	1,258,296		OGE Energy Corp		88,056
	110,300		Okinawa Electric Power Co, Inc		3,799
	292,727		Oneok, Inc		13,954
	61,936	e	Ormat Technologies, Inc		1,279
	3,806,506	e	Osaka Gas Co Ltd		16,646
	143,818	e	Otter Tail Corp		4,478
	537,776		Pennon Group plc		5,095
	281,062		Pepco Holdings, Inc		6,015
	866,700		Petronas Gas BHD		5,316
	1,419,971		PG&E Corp		63,231

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	278,343		Piedmont Natural Gas Co, Inc	$	9,152
	588,513		Pinnacle West Capital Corp		34,069
	382,950		PNM Resources, Inc		8,919
	10,709,850		PNOC Energy Development Corp		1,693
	947,959		Polska Grupa Energetyczna S.A.		4,878
	354,910		Portland General Electric Co		10,764
	2,057,849		Power Grid Corp of India Ltd		4,012
	1,855,222	e	PPL Corp		58,087
	63,600	*	ProShares VIX Short-Term Futures ETF		694
	26,448,500		PT Perusahaan Gas Negara		16,231
	435,227		PTC India Ltd		481
	264,488	*	Public Power Corp		1,884
	1,175,335		Public Service Enterprise Group, Inc		40,361
	876,200	*	Puncak Niaga Holding BHD		424
	7,280		Pusan City Gas Co Ltd		161
	370,386		Questar Corp		9,011
	370,000		Ratchaburi Electricity Generating Holding PCL		757
	46,018		Red Electrica de Espana		2,318
	157,984		Redes Energeticas Nacionais S.A.		456
	340,067		Reliance Energy Ltd		2,036
	756,790	*	Reliance Power Ltd		858
	73,302		Rubis		4,467
	1,424,567		RusHydro (ADR)		2,784
	154,222		RWE AG.		5,757
	299		RWE AG. (Preference)		11
	7,162		Samchully Co Ltd		765
	179,555		SCANA Corp		9,186
	76,661		Scottish & Southern Energy plc		1,733
	42,678		Sechilienne-Sidec		757
	2,327,329		Sempra Energy		186,047
	169,249		Severn Trent plc		4,410
	218,750	*,e	Shikoku Electric Power Co, Inc		3,118
	59,000		Shizuoka Gas Co Ltd		406
	54,078	e	SJW Corp		1,433
	246,191		Snam Rete Gas S.p.A.		1,125
	110,517		South Jersey Industries, Inc		6,144
	1,949,181		Southern Co		91,456
	220,336		Southwest Gas Corp		10,457
	3,629,708		SP AusNet		4,529
	3,158,534	e,g	Spark Infrastructure Group		5,469
	299,208		Suez Environnement S.A.		3,815
	263,526	e	Superior Plus Corp		3,087
	1,085,450		Taiwan Cogeneration Corp		737
	1,494,029		Tata Power Co Ltd		2,658
	1,230,344		Tauron Polska Energia S.A.		1,619
	269,677		TECO Energy, Inc		4,806
	117,335		Telecom Plus plc		1,785
	7,233,118		Tenaga Nasional BHD		16,823
	50,201		Terna Energy S.A.		163
	807,458		Terna Rete Elettrica Nazionale S.p.A.		3,351
	479,990	*	TF Administradora Industrial S de RL de C.V.		1,069
	3,045,800		Thai Tap Water Supply PCL		1,125

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	508,208	e	Toho Gas Co Ltd	$	3,238
	327,598	*	Tohoku Electric Power Co, Inc		2,613
	1,212,006	*	Tokyo Electric Power Co, Inc		3,011
	7,196,285		Tokyo Gas Co Ltd		38,900
	1,176,000		Towngas China Co Ltd		1,088
	230,120		Tractebel Energia S.A.		3,956
	232,858	e	TransAlta Corp		3,404
	399,645		UGI Corp		15,342
	189,465		UIL Holdings Corp		7,501
	915,630		United Utilities Group plc		9,868
	46,511		Unitil Corp		1,308
	227,682		UNS Energy Corp		11,143
	73,600		Valener, Inc		1,166
	167,152		Vectren Corp		5,921
	270,198		Veolia Environnement		3,424
	269,206		Westar Energy, Inc		8,932
	184,442		WGL Holdings, Inc		8,134
	617,359		Wisconsin Energy Corp		26,479
	1,750,289		Xcel Energy, Inc		51,984
	2,229,800		Xinao Gas Holdings Ltd		12,349
	1,090		YESCO Co Ltd		31
	51,441	e	York Water Co		967
	6,575,382		YTL Corp BHD		3,480
	3,865,208		YTL Power International BHD		1,823
	1,453,400		Zhejiang Southeast Electric Power Co (Class B)		1,080
	629,253	*	Zorlu Enerji Elektrik Uretim AS		550
			TOTAL UTILITIES		3,626,246
			TOTAL COMMON STOCKS		112,374,811
			(Cost $94,959,929)
PREFERRED STOCKS - 0.1%
DIVERSIFIED FINANCIALS - 0.0%
	319,300		Daishin Securities Co Ltd Pref 2		1,667
			TOTAL DIVERSIFIED FINANCIALS		1,667
FOOD, BEVERAGE & TOBACCO - 0.1%
	1,475,696	*	Ambev Cia De Bebidas Das		61,583
			TOTAL FOOD, BEVERAGE & TOBACCO		61,583
REAL ESTATE - 0.0%
	8,497,223	*,m	Ayala Land, Inc (Preferred B)		21
			TOTAL REAL ESTATE		21
			TOTAL PREFERRED STOCKS		63,271
			(Cost $42,908)
RIGHTS / WARRANTS - 0.0%
BANKS - 0.0%
	527,351	m	CaixaBank		36
			TOTAL BANKS		36

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
CAPITAL GOODS - 0.0%
	14,625		Gamuda Berhad	$	6
	574,212		KNM Group BHD		19
	3,758,804	m	Polimex-Mostostal S.A.		0	^
			TOTAL CAPITAL GOODS		25
CONSUMER DURABLES & APPAREL - 0.0%
	1,687,157	m	Alok Industries Ltd		0	^
	489,250	m	Li Ning Co Ltd		68
			TOTAL CONSUMER DURABLES & APPAREL		68
CONSUMER SERVICES - 0.0%
	349,597		William Hill plc		659
			TOTAL CONSUMER SERVICES		659
DIVERSIFIED FINANCIALS - 0.0%
	1,035,000		Citigroup Global Markets Holdings		1,355
	147,169		Haitong International Securities Group Ltd		11
			TOTAL DIVERSIFIED FINANCIALS		1,366
ENERGY - 0.0%
	123,722		Etablissements Maurel et Prom CW14		43
	45,556	e	Magnum Hunter Resources Corp		6
			TOTAL ENERGY		49
FOOD, BEVERAGE & TOBACCO - 0.0%
	17,302		Olam International Ltd		6
			TOTAL FOOD, BEVERAGE & TOBACCO		6
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	60,780		Hartalega Holdings BHD		22
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		22
MATERIALS - 0.0%
	1,558		Kinross Gold Corp		0	^
	583,765	e,m	Talvivaara Mining Co plc		80
			TOTAL MATERIALS		80
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	588,021	m	Allos Therapeutics, Inc		12
	1,427	e	CTC BIO, Inc		17
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		29
REAL ESTATE - 0.0%
	4,761,352	m	GPT Group		0	^
	66,140		IJM Land BHD - CW13		24
	207,399		Mah Sing Group BHD		31
	24,524	m	Nieuwe Steen Investments NV		0	^
			TOTAL REAL ESTATE		55
TRANSPORTATION - 0.0%
	13,940		Thoresen Thai Agencies PCL		3
	116,000	m	Tiger Airways Holdings Ltd		20

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	RATES	MATURITY DATE	VALUE (000)
	145,000	m	Tiger Airways Holdings Ltd			$	0	^
			TOTAL TRANSPORTATION				23
			TOTAL RIGHTS / WARRANTS				2,418
			(Cost $3,428)

PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 5.4%
TREASURY DEBT - 0.4%
$	61,500,000	United States Cash Management Bill	0.105	%	04/15/13	61,497
	3,000,000	United States Treasury Bill	0.085		04/04/13	3,000
	8,800,000	United States Treasury Bill	0.089		04/11/13	8,800
	73,200,000	United States Treasury Bill	0.093-0.108		04/18/13	73,196
	43,000,000	United States Treasury Bill	0.100		05/16/13	42,995
	25,700,000	United States Treasury Bill	0.075-0.100		05/30/13	25,698
	18,000,000	United States Treasury Bill	0.076		06/06/13	17,998
	22,500,000	United States Treasury Bill	0.080-0.085		06/13/13	22,497
	50,000,000	United States Treasury Bill	0.060		06/27/13	49,992
	62,000,000	United States Treasury Bill	0.065		07/05/13	61,989
	4,000,000	United States Treasury Bill	0.093		07/11/13	3,999
	13,400,000	United States Treasury Bill	0.075-0.090		07/18/13	13,397
	40,900,000	United States Treasury Bill	0.075		07/25/13	40,891
		TOTAL TREASURY DEBT				425,949

INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 5.0%
REPURCHASE AGREEMENT - 4.8%
	554,038,000	o	Bank of Nova Scotia		0.015	04/01/13	554,038
	396,512,000	p	Barclays Capital		0.015	04/01/13	396,512
	550,000,000	q	Barclays Capital (DVP)		0.015	04/01/13	550,000
	177,000,000	r	BNP		0.015	04/01/13	177,000
	870,000,000	s	Calyon		0.015	04/01/13	870,000
	426,000,000	t	Citigroup Tri-party A		0.015	04/01/13	426,000
	126,000,000	u	Citigroup Tri-party C		0.015	04/01/13	126,000
	700,000,000	v	Deutsche Bank		0.015	04/01/13	700,000
	68,000,000	w	HSBC		0.017	04/01/13	68,000
	528,000,000	x	Merrill Lynch		0.017	04/01/13	528,000
	21,000,000	y	Morgan Stanley		0.017	04/01/13	21,000
	187,000,000	z	RBC		0.017	04/01/13	187,000
	660,000,000	aa	Royal Bank of Scotland	0.017-0.018		04/01/13	660,000
	153,000,000	bb	Societe Generale		0.015	04/01/13	153,000
	30,000,000	cc	UBS Warburg		0.015	04/01/13	30,000
			TOTAL REPURCHASE AGREEMENT				5,446,550
VARIABLE RATE SECURITIES - 0.2%
	13,521,889	i	Granite Master Issuer plc 2006		0.403	12/20/50	13,251
	10,691,726	i	Granite Master Issuer plc 2007		0.403	12/20/50	10,478
	5,860,625	i	Medallion Trust 2005		0.330	08/22/36	5,809
	8,780,830	i	Nelnet Student Loan Trust 2007		0.534	09/25/18	8,780

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	11,469,900	i	Puma Finance Ltd	0.429	%	02/21/38	$	11,230
	170,000,000	i	SLM Student Loan Trust 2007	0.341		01/25/19		168,527
	24,151,608	i	SLM Student Loan Trust 2008	0.651		10/25/16		24,178
			TOTAL VARIABLE RATE SECURITIES					242,253
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED					5,688,803
			TOTAL SHORT-TERM INVESTMENTS					6,114,752
			(Cost $6,115,904)
			TOTAL INVESTMENTS - 104.9%					118,563,660
			(Cost $101,128,175)
			OTHER ASSETS & LIABILITIES, NET - (4.9)%					(5,538,479	)
			NET ASSETS - 100.0%				$	113,025,181

	Abbreviation(s):
ADR	American Depositary Receipt
GDR	Global Depositary Receipt
ETF	Exchange Traded Fund
NVDR	Non Voting Depository Receipt
REIT	Real Estate Investment Trust
SPDR	Standard & Poor’s Depository Receipts

*	Non-income producing.
^	Amount represents less than $1,000.
a	Affiliated holding.
b	In bankruptcy
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $5,465,215,000.
f	Restricted security. At 3/31/2013, the aggregate value of these securities amounted to $988,000 or 0.0% of net assets.
g	Security exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/2013, the aggregate value of these securities was $6,424,000 or 0.0% of net assets.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
n	In default
o	Agreement with Bank of Nova Scotia, 0.15% dated 3/31/13 to be repurchased at $554,040,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $565,121,000.
p	Agreement with Barclays Capital, 0.15% dated 03/31/13 to be repurchased at $396,514,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $404,442,000.
q	Agreement with Barclays Capital (DVP), 0.15% dated 03/31/13 to be repurchased at $550,002,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $561,002,000.
r	Agreement with BNP, 0.15% dated 03/31/13 to be repurchased at $177,001,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $180,681,000.
s	Agreement with Calyon, 0.15% dated 03/31/13 to be repurchased at $870,004,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $887,400,000.
t	Agreement with Citigroup Tri-party A, 0.15% dated 03/31/13 to be repurchased at $426,002,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $434,520,000.
u	Agreement with Citigroup Tri-party C, 0.16% dated 03/31/13 to be repurchased at $126,001,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $128,521,000.
v	Agreement with Deutsche Bank, 0.15% dated 03/31/13 to be repurchased at $700,003,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $714,000,000.
w	Agreement with HSBC, 0.17% dated 03/31/13 to be repurchased at $68,002,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $69,362,000.
x	Agreement with Merrill Lynch, 0.15% - 0.17% dated 03/31/13 to be repurchased at $528,002,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $538,583,000.
y	Agreement with Morgan Stanley, 0.17% dated 03/31/13 to be repurchased at $21,000,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $21,420,000.
z	Agreement with RBC, 0.17% dated 03/31/13 to be repurchased at $187,001,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $190,740,000.
aa	Agreement with Royal Bank of Scotland, 0.17% - 0.18% dated 03/31/13 to be repurchased at $660,006,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $673,206,000.
bb	Agreement with Societe Generale, 0.15% dated 03/31/13 to be repurchased at $153,001,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $28,550,000 and cash pledged of $125,010,000.
cc	Agreement with UBS Warburg, 0.15% dated 03/31/13 to be repurchased at $30,000,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $30,600,000.
	Cost amounts are in thousands.

183

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
March 31, 2013

Country	Value (000)		% of total portfolio
DOMESTIC
UNITED STATES	$	84,537,881		71.3	%
TOTAL DOMESTIC		84,537,881		71.3
FOREIGN
ARGENTINA		1,852		0.0
AUSTRALIA		1,675,996		1.4
AUSTRIA		106,189		0.1
BELGIUM		198,275		0.2
BERMUDA		45,998		0.0
BRAZIL		925,807		0.8
CAMBODIA		2,728		0.0
CANADA		2,701,886		2.4
CAYMAN ISLANDS		1,759		0.0
CHILE		155,269		0.1
CHINA		1,387,142		1.2
COLOMBIA		113,781		0.1
CYPRUS		4,811		0.0
CZECH REPUBLIC		21,009		0.0
DENMARK		318,663		0.3
EGYPT		18,419		0.0
FINLAND		159,971		0.1
FRANCE		2,060,644		1.7
GERMANY		1,880,230		1.6
GIBRALTAR		1,798		0.0
GREECE		28,923		0.0
GUERNSEY, C.I.		3,049		0.0
HONG KONG		829,782		0.7
HUNGARY		14,221		0.0
INDIA		622,753		0.5
INDONESIA		292,639		0.2
IRELAND		271,113		0.2
ISLE OF MAN		3,833		0.0
ISRAEL		117,025		0.1
ITALY		386,924		0.3
JAPAN		5,131,051		4.4
JERSEY, C.I.		3,211		0.0
KOREA, REPUBLIC OF		1,219,358		1.0
LIECHTENSTEIN		551		0.0
LUXEMBOURG		30,876		0.0
MACAU		40,423		0.0
MALAYSIA		258,461		0.2
MEXICO		436,001		0.4
MONACO		4,417		0.0
MOROCCO		4,911		0.0
NETHERLANDS		1,093,351		1.0
NEW ZEALAND		76,175		0.1
NIGERIA		1,788		0.0
NORWAY		303,593		0.3
PANAMA		30,570		0.0
PERU		38,202		0.0
PHILIPPINES		131,901		0.1
POLAND		107,839		0.1
PORTUGAL		31,098		0.0
PUERTO RICO		1,434		0.0
RUSSIA		404,376		0.3
SINGAPORE		331,402		0.3
SOUTH AFRICA		525,521		0.4

184

Country	Value (000)		% of total portfolio
SPAIN	$	377,956		0.3	%
SWEDEN		653,430		0.6
SWITZERLAND		2,092,627		1.8
TAIWAN		885,443		0.7
THAILAND		232,924		0.2
TURKEY		218,009		0.2
UKRAINE		4,216		0.0
UNITED ARAB EMIRATES		20,055		0.0
UNITED KINGDOM		4,982,120		4.3
TOTAL FOREIGN		34,025,779		28.7
TOTAL PORTFOLIO	$	118,563,660		100.0	%

185

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2013

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 98.7%
AUSTRALIA - 2.5%
	155,682		AGL Energy Ltd	$	2,577
	23,242		ALS Ltd		255
	747,861		Alumina Ltd		868
	355,812		Amcor Ltd		3,447
	945,426		AMP Ltd		5,151
	56,711		APA Group		353
	185,918		Asciano Group		1,085
	1,271,799	*	Australia & New Zealand Banking Group Ltd		37,931
	50,899		Australian Stock Exchange Ltd		1,923
	51,619		Bendigo Bank Ltd		554
	1,809,529	e	BHP Billiton Ltd		61,859
	8,199,574	e	Billabong International Ltd		6,238
	126,480	*	BlueScope Steel Ltd		664
	102,780		Boral Ltd		528
	356,690		Brambles Ltd		3,163
	15,611		Caltex Australia Ltd		349
	256,596		CFS Gandel Retail Trust		538
	181,900		Coca-Cola Amatil Ltd		2,766
	5,144		Cochlear Ltd		365
	452,804		Commonwealth Bank of Australia		32,162
	6,000,000		Commonwealth Property Office Fund		6,945
	145,854		Computershare Ltd		1,555
	60,957	e	Crown Ltd		784
	145,375		CSL Ltd		8,986
	799,457	e	David Jones Ltd		2,495
	543,271		DB RREEF Trust		590
	68,016		DuluxGroup Ltd		316
	100,046		Echo Entertainment Group Ltd		364
	89,324		Federation Centres		219
	3,737	e	Flight Centre Ltd		131
	392,189		Fortescue Metals Group Ltd		1,624
	680,060		GPT Group (ASE)		2,632
	53,125		Harvey Norman Holdings Ltd		152
	37,875	e	Iluka Resources Ltd		372
	284,937		Incitec Pivot Ltd		921
	634,053		Insurance Australia Group Ltd		3,783
	145,327	e	John Fairfax Holdings Ltd		96
	43,795	e	Leighton Holdings Ltd		943
	193,081		Lend Lease Corp Ltd		2,060
	35,629	*,e	Lynas Corp Ltd		21
	201,423		Macquarie Goodman Group		1,007
	116,961		Macquarie Group Ltd		4,550
	95,657	e	Metcash Ltd		413

186

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,102,886		Mirvac Group	$	1,866
	1,093,992		National Australia Bank Ltd		35,299
	460,960		Newcrest Mining Ltd		9,650
	349,707	e	OneSteel Ltd		320
	109,098		Orica Ltd		2,789
	364,837		Origin Energy Ltd		5,078
	115,358		Oxiana Ltd		644
	128,132	*	Qantas Airways Ltd		239
	451,736		QBE Insurance Group Ltd		6,386
	160,470		QR National Ltd		675
	209,008		Ramsay Health Care Ltd		7,035
	289,057		Santos Ltd		3,755
	52,514	*	Shopping Centres Australasia Property Group		90
	18,417		Sims Group Ltd		194
	33,206		Sonic Healthcare Ltd		483
	181,204		SP AusNet		226
	818,606		Stockland Trust Group		3,124
	459,266		Suncorp-Metway Ltd		5,668
	57,922		Sydney Airport		198
	94,864		Tabcorp Holdings Ltd		320
	182,754		Tattersall’s Ltd		604
	1,596,351		Telstra Corp Ltd		7,506
	254,768	e	Toll Holdings Ltd		1,579
	369,938		Transurban Group		2,460
	43,871		Treasury Wine Estates Ltd		261
	363,316		Wesfarmers Ltd		15,256
	4,152,132		Westfield Group		47,044
	1,336,926		Westfield Retail Trust		4,209
	838,155		Westpac Banking Corp		26,973
	29,800	e	Whitehaven Coal Ltd		66
	198,427		Woodside Petroleum Ltd		7,437
	348,016		Woolworths Ltd		12,286
	40,143		WorleyParsons Ltd		1,038
			TOTAL AUSTRALIA		414,493
AUSTRIA - 0.2%
	63,890		Andritz AG.		4,301
	94,400		Austriamicrosystems AG.		10,659
	21,422	*	Erste Bank der Oesterreichischen Sparkassen AG.		600
	65,989	*,e,m	Immoeast AG.		0	^
	48,491		IMMOFINANZ Immobilien Anlagen AG.		184
	7,264		Oest Elektrizitatswirts AG. (Class A)		158
	170,000		Oesterreichische Post AG.		7,317
	15,084		OMV AG.		643
	5,175		Raiffeisen International Bank Holding AG.		176
	28,348		Telekom Austria AG.		186
	11,692		Voestalpine AG.		360
	3,986		Wiener Staedtische Allgemeine Versicherung AG.		193
	178,017		Wienerberger AG.		2,126
			TOTAL AUSTRIA		26,903

187

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
BELGIUM - 0.4%
	23,446		Ageas	$	796
	31,925	*,m	Anheuser-Busch InBev NV		0	^
	15,417		Belgacom S.A.		384
	7,960		Colruyt S.A.		385
	10,191		Delhaize Group		556
	7,725		Groupe Bruxelles Lambert S.A.		592
	477	*,m	Groupe Bruxelles Lambert S.A. - STR VVPR		0	^
	136,836		InBev NV		13,604
	19,478		KBC Groep NV		675
	1,411		Mobistar S.A.		32
	5,996		Solvay S.A.		814
	2,847		Telenet Group Holding NV		141
	608,773		UCB S.A.		38,943
	11,514		Umicore		541
			TOTAL BELGIUM		57,463
BERMUDA - 0.0%
	117,500		Validus Holdings Ltd		4,391
			TOTAL BERMUDA		4,391
BRAZIL - 0.1%
	489,000		BTG Pactual Participations Ltd		8,206
	23,506	e	Companhia Vale do Rio Doce (ADR)		407
	1,000,000		Klabin S.A.		6,903
	850,000		Marcopolo S.A.		6,036
	275,000		Minerva S.A.		1,783
			TOTAL BRAZIL		23,335
CANADA - 3.7%
	25,390		Agnico-Eagle Mines Ltd		1,041
	38,978	e	Agrium, Inc (Toronto)		3,801
	300,000		Aimia, Inc		4,548
	22,406		Alimentation Couche Tard, Inc		1,214
	40,851	e	ARC Energy Trust		1,079
	28,252	*	Athabasca Oil Corp		253
	235,367	e	Bank of Montreal (Toronto)		14,815
	432,014	e	Bank of Nova Scotia		25,138
	547,799		Barrick Gold Corp (Canada)		16,091
	64,000	e	Baytex Energy Trust		2,682
	188,525	e	BCE, Inc		8,808
	50,273	e	Bell Aliant Regional Communications Income Fund		1,333
	95,055	*	Biovail Corp (Toronto)		7,136
	199,561		Bombardier, Inc		792
	13,969	e	Bonavista Energy Trust		205
	152,063		Brookfield Asset Management, Inc		5,554
	141,486		CAE, Inc		1,383
	195,635	e	Cameco Corp		4,060
	201,611	e	Canadian Imperial Bank of Commerce/Canada		15,814
	349,271	e	Canadian National Railway Co		35,104
	450,704		Canadian Natural Resources Ltd (Canada)		14,450
	213,093		Canadian Oil Sands Trust		4,393
	80,500	e	Canadian Pacific Railway Ltd		10,503

188

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	258,863		Canadian Pacific Railway Ltd (Toronto)	$	33,774
	74,413		Canadian Tire Corp Ltd		5,370
	11,150		Canadian Utilities Ltd		884
	290,000		Cenovus Energy, Inc		8,987
	389,580	e	Cenovus Energy, Inc (Toronto)		12,065
	83,051		Centerra Gold, Inc		495
	108,104	*	CGI Group, Inc		2,938
	34,465	e	CI Financial Corp		953
	252,575	e	Crescent Point Energy Corp		9,535
	205,000	*	Detour Gold Corp		3,941
	214,324	e	Dollarama, Inc		13,762
	349,311		Eldorado Gold Corp		3,339
	6,922		Empire Co Ltd		451
	222,703		Enbridge, Inc		10,369
	181,823	e	EnCana Corp		3,537
	28,452	e	Enerplus Resources Fund		416
	965		Fairfax Financial Holdings Ltd		377
	24,432		Finning International, Inc		609
	287,508		First Quantum Minerals Ltd		5,468
	97,753	e	Fortis, Inc		3,286
	73,426	*,e	Franco-Nevada Corp		3,352
	9,915		George Weston Ltd		737
	70,864		Gildan Activewear, Inc		2,827
	232,431		Goldcorp, Inc		7,821
	138,067		Great-West Lifeco, Inc		3,701
	81,370		H&R Real Estate Investment Trust		1,874
	154,394		Husky Energy, Inc		4,432
	273,574	e	IAMGOLD Corp		1,974
	18,126	e	IGM Financial, Inc		817
	131,720		Imperial Oil Ltd		5,384
	50,490		Industrial Alliance Insurance and Financial Services, Inc		1,857
	23,572	e	ING Canada, Inc		1,444
	6,905		Inmet Mining Corp		460
	177,848	*	Ivanhoe Mines Ltd		1,133
	206,259		Kinross Gold Corp		1,632
	15,642		Loblaw Cos Ltd		658
	42,525	*,e	Lululemon Athletica, Inc		2,651
	80,000		Magna International, Inc - Class A (NY)		4,696
	75,641		Magna International, Inc (Class A)		4,446
	150,000	e	Manitoba Telecom Services, Inc		4,873
	523,061	e	Manulife Financial Corp		7,703
	13,214	*	MEG Energy Corp		424
	134,113		Metro, Inc		8,403
	71,299	e	National Bank of Canada		5,237
	228,291	*	New Gold, Inc		2,077
	20,802		Onex Corp		992
	10,696	*	Open Text Corp		632
	315,871	*	Osisko Mining Corp		1,875
	67,284		Pan American Silver Corp		1,106
	42,475	e	Pembina Pipeline Income Fund		1,342
	53,482	e	Pengrowth Energy Trust		273
	64,570	e	Penn West Energy Trust		694

189

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	259,734		Potash Corp of Saskatchewan Toronto	$	10,202
	72,218	e	Power Corp Of Canada		1,941
	121,208	e	Power Financial Corp		3,572
	97,200	*,e	Research In Motion Ltd (Canada)		1,444
	93,717		RioCan Real Estate Investment Trust		2,565
	37,358	e	Ritchie Bros Auctioneers, Inc		813
	110,199	e	Rogers Communications, Inc (Class B)		5,629
	783,317	e	Royal Bank of Canada (Toronto)		47,191
	66,033		Saputo, Inc		3,353
	74,239	*,e	Shaw Communications, Inc (B Shares)		1,839
	91,414	e	Shoppers Drug Mart Corp		3,912
	159,415		Silver Wheaton Corp		4,990
	21,860		SNC-Lavalin Group, Inc		915
	245,945	e	Sun Life Financial, Inc		6,711
	1,056,266		Suncor Energy, Inc		31,651
	245,273		Talisman Energy, Inc		2,999
	149,577		Teck Cominco Ltd		4,211
	58,444		TELUS Corp		4,036
	168,413	e	Thomson Corp (Toronto)		5,464
	80,720		Tim Hortons, Inc (Toronto)		4,387
	475,355	e	Toronto-Dominion Bank		39,578
	92,663	*	Tourmaline Oil Corp		3,583
	37,764	e	TransAlta Corp		552
	401,321	e	TransCanada Corp		19,160
	45,121	e	Vermilion Energy Trust		2,336
	180,000		Westjet Airlines Ltd		4,380
	277,168	e	Yamana Gold, Inc		4,270
			TOTAL CANADA		609,964
CHINA - 0.7%
	4,000,000	e	Agile Property Holdings Ltd		4,786
	794,000	e	Agricultural Bank of China		382
	2,708,700		Bank of Communications Co Ltd		2,034
	4,000,000		Beijing Capital International Airport Co Ltd		2,920
	2,079,948		BOC Hong Kong Holdings Ltd		6,957
	1,122,000		China Aoyuan Property Group Ltd		241
	8,690,500	e	China Everbright International Ltd		6,260
	1,119,500		China Merchants Bank Co Ltd		2,379
	5,915,100	e	China National Building Material Co Ltd		7,480
	1,300,255	*	China New Town Development Co Ltd		101
	6,000,000	e	China Railway Construction Corp		5,709
	12,000,000		China Railway Group Ltd		6,127
	1,818,900	e	China South Locomotive and Rolling Stock Corp		1,296
	203,000		CNOOC Ltd		390
	20,000	e	Cosco Corp Singapore Ltd		15
	5,121,000		Dah Chong Hong Holdings Ltd		4,861
	44,000	*	Foxconn International Holdings Ltd		17
	209,000	*,e	Glorious Property Holdings Ltd		33

190

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,450,000	e	Great Wall Motor Co Ltd	$	4,935
	12,000,000		Guangzhou Investment Co Ltd		3,472
	2,250,000		Guangzhou R&F Properties Co Ltd		3,787
	6,877,000		Industrial & Commercial Bank of China		4,837
	4,000,000		KWG Property Holding Ltd		2,513
	76,000		Netease.com (ADR)		4,163
	180,000		Ping An Insurance Group Co of China Ltd		1,400
	3,000,000		Shimao Property Holdings Ltd		5,784
	50,000	*	Sina Corp		2,430
	2,223,338	e	Sino-Ocean Land Holdings Ltd		1,345
	167,400		Spreadtrum Communications, Inc (ADR)		3,433
	5,600,000		Sunac China Holdings Ltd		3,955
	168,000		Tencent Holdings Ltd		5,373
	1,550,000		Xinao Gas Holdings Ltd		8,584
	1,569,300		Xingda International Holdings Ltd		519
	169,000	e	Yangzijiang Shipbuilding		133
	7,539,000	*,e	Yanlord Land Group Ltd		9,160
			TOTAL CHINA		117,811
COLOMBIA - 0.1%
	427,857		Pacific Rubiales Energy Corp (Toronto)		9,030
			TOTAL COLOMBIA		9,030
DENMARK - 0.6%
	55		AP Moller - Maersk AS (Class A)		413
	125		AP Moller - Maersk AS (Class B)		981
	10,766	e	Carlsberg AS (Class B)		1,050
	750,985		Christian Hansen Holding		27,892
	11,384		Coloplast A.S.		613
	56,885	*	Danske Bank AS		1,020
	19,977		DSV AS		483
	283,326		Novo Nordisk AS (Class B)		45,667
	39,037		Novozymes AS		1,326
	729,022		TDC AS		5,611
	300,000	*	Topdanmark A.S.		7,196
	2,402		TrygVesta AS		194
	2,529	*	William Demant Holding		212
			TOTAL DENMARK		92,658
FINLAND - 0.2%
	13,226	e	Elisa Oyj (Series A)		246
	560,190		Fortum Oyj		11,300
	6,943	e	Kesko Oyj (B Shares)		217
	15,633		Kone Oyj (Class B)		1,233
	12,703	e	Metso Oyj		543
	12,237	e	Neste Oil Oyj		173
	299,965	e	Nokia Oyj		976
	10,906	e	Nokian Renkaat Oyj		487
	283,376	e	OKO Bank (Class A)		4,144
	4,742	e	Orion Oyj (Class B)		125
	741,600	e	Outotec Oyj		10,906
	42,475	e	Sampo Oyj (A Shares)		1,638

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	56,313		Stora Enso Oyj (R Shares)	$	365
	52,761	e	UPM-Kymmene Oyj		590
	17,158	e	Wartsila Oyj (B Shares)		773
			TOTAL FINLAND		33,716
FRANCE - 3.2%
	14,487		Accor S.A.		504
	3,005		Aeroports de Paris		255
	55,372		Air Liquide		6,735
	107,974	*,e	Alcatel S.A.		145
	366,702		Alstom RGPT		14,957
	42,166		Arkema		3,843
	349,837		Atos Origin S.A.		24,106
	169,583		AXA S.A.		2,931
	1,011,355		BNP Paribas		52,001
	9,865		Bouygues S.A.		268
	5,205		Bureau Veritas S.A.		648
	14,859		Cap Gemini S.A.		677
	62,197		Carrefour S.A.		1,704
	5,560		Casino Guichard Perrachon S.A.		585
	2,950		Christian Dior S.A.		490
	16,168		CNP Assurances		222
	334,350		Compagnie de Saint-Gobain		12,416
	15,040	*	Compagnie Generale de Geophysique S.A.		339
	1		Compagnie Generale de Geophysique-Veritas (ADR)		0	^
	20,403		Compagnie Generale d’Optique Essilor International S.A.		2,270
	95,044	*	Credit Agricole S.A.		785
	6,318		Dassault Systemes S.A.		731
	1,814,499		Edenred		59,467
	25,537		Electricite de France		490
	3,241		Eurazeo		165
	7,212		Eutelsat Communications		254
	2,621		Fonciere Des Regions		205
	117,636		France Telecom S.A.		1,192
	772,700	*,e	GameLoft		5,052
	135,728		Gaz de France		2,607
	1,993		Gecina S.A.		232
	57,330		Groupe Danone		3,992
	30,050		Groupe Eurotunnel S.A.		240
	2,139		Icade		187
	1,222		Iliad S.A.		260
	3,402		Imerys S.A.		222
	784,625		JC Decaux S.A.		21,524
	9,464		Klepierre		372
	493,375		Lafarge S.A.		32,848
	6,691		Lagardere S.C.A.		247
	17,431		Legrand S.A.		760
	158,218		L’Oreal S.A.		25,102
	237,205		LVMH Moet Hennessy Louis Vuitton S.A.		40,754
	13,226		Michelin (C.G.D.E.) (Class B)		1,108
	91,083		Natixis		346
	18,590		Pernod-Ricard S.A.		2,317

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	13,555	*,e	Peugeot S.A.	$	98
	6,670		PPR		1,467
	8,958		Publicis Groupe S.A.		601
	414,714		Remy Cointreau S.A.		47,929
	112,533		Renault S.A.		7,060
	700,214		Rexel S.A.		15,289
	64,700		Rubis		3,943
	21,219		Safran S.A.		947
	400,975		Sanofi-Aventis		40,894
	50,377		Schneider Electric S.A.		3,684
	16,577		SCOR		477
	62,759		Societe BIC S.A.		7,292
	64,755	*	Societe Generale		2,132
	4,965		Sodexho Alliance S.A.		463
	14,878		Suez Environnement S.A.		190
	278,589		Technip S.A.		28,575
	219,353		Teleperformance		9,354
	9,201		Thales S.A.		389
	215,633	*	Total S.A.		10,327
	8,809	*	Unibail-Rodamco		2,052
	10,661		Vallourec		513
	18,491		Veolia Environnement		234
	44,694		Vinci S.A.		2,017
	127,245		Vivendi Universal S.A.		2,632
	1,677		Wendel		178
	1,833		Zodiac S.A.		214
			TOTAL FRANCE		515,506
GERMANY - 3.5%
	11,315		Adidas-Salomon AG.		1,176
	548,535		Allianz AG.		74,777
	2,024		Axel Springer AG.		88
	189,419		BASF AG.		16,631
	744,738		Bayer AG.		76,966
	284,025		Bayerische Motoren Werke AG.		24,579
	535		Bayerische Motoren Werke AG. (Preference)		34
	664,649		Beiersdorf AG.		61,430
	2,769		Brenntag AG.		433
	8,435		Celesio AG.		159
	386,895	*,e	Commerzbank AG.		570
	172,384		Continental AG.		20,662
	90,504		Daimler AG. (Reg)		4,936
	498,544		Deutsche Bank AG.		19,491
	19,639		Deutsche Boerse AG.		1,191
	23,196		Deutsche Lufthansa AG.		454
	1,706,093		Deutsche Post AG.		39,373
	283,476		Deutsche Telekom AG.		3,001
	1,814,700		E.ON AG.		31,753
	3,577		Fraport AG. Frankfurt Airport Services Worldwide		201
	71,681		Fresenius Medical Care AG.		4,847
	11,848		Fresenius SE		1,464
	9,110		GEA Group AG.		301

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	55,990		Hannover Rueckversicherung AG.	$	4,408
	13,998		HeidelbergCement AG.		1,009
	13,152		Henkel KGaA		1,040
	18,019		Henkel KGaA (Preference)		1,736
	1,760	*	Hochtief AG.		115
	1,273		Hugo Boss AG.		143
	109,094		Infineon Technologies AG.		863
	17,259		K&S AG.		805
	241,028		Kabel Deutschland Holding AG.		22,252
	104,448		Lanxess AG.		7,425
	17,835		Linde AG.		3,322
	2,469		MAN AG.		266
	3,489		Merck KGaA		527
	12,546		Metro AG.		357
	109,736		Muenchener Rueckver AG.		20,568
	60,000		Norddeutsche Affinerie AG.		3,818
	15,410		Porsche AG.		1,129
	145,185		ProSiebenSat.1 Media AG.		5,197
	41,000		Rheinmetall AG.		1,902
	36,976		RWE AG.		1,380
	3,154		RWE AG. (Preference)		113
	4,352		Salzgitter AG.		175
	713,849		SAP AG.		57,413
	83,983		Siemens AG.		9,053
	197,182		Suedzucker AG.		8,334
	36,616		ThyssenKrupp AG.		746
	4,665		United Internet AG.		114
	23,073		Volkswagen AG.		4,352
	88,364		Volkswagen AG. (Preference)		17,600
	341,804		Wirecard AG.		9,470
			TOTAL GERMANY		570,149
GREECE - 0.0%
	19,544		Coca Cola Hellenic Bottling Co S.A.		524
	22,406		OPAP S.A.		176
			TOTAL GREECE		700
HONG KONG - 1.3%
	7,785,700		AIA Group Ltd		34,232
	17,658	e	ASM Pacific Technology		194
	119,466		Bank of East Asia Ltd		473
	105,237		Cathay Pacific Airways Ltd		180
	596,111		Cheung Kong Holdings Ltd		8,831
	43,661		Cheung Kong Infrastructure Holdings Ltd		300
	493,956		CLP Holdings Ltd		4,330
	4,745,731	e	Esprit Holdings Ltd		5,733
	1,180,000	*	Far East Global Group Ltd		368
	188,504		First Pacific Co		256
	164,000	*	Galaxy Entertainment Group Ltd		688
	1,811,517		Hang Lung Group Ltd		10,206
	6,528,337		Hang Lung Properties Ltd		24,441
	360,570		Hang Seng Bank Ltd		5,793

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	315,333		Henderson Land Development Co Ltd	$	2,163
	158,804		HKT Trust and HKT Ltd		159
	1,556,859		Hong Kong & China Gas Ltd		4,548
	294,779		Hong Kong Electric Holdings Ltd		2,786
	253,959	e	Hong Kong Exchanges and Clearing Ltd		4,340
	49,403		Hopewell Holdings		201
	482,700		Hutchison Port Holdings Trust		412
	666,416		Hutchison Whampoa Ltd		6,967
	57,584		Hysan Development Co Ltd		291
	6,000,000	e	iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		8,054
	1,525,427		Kerry Properties Ltd		6,790
	1,750,638	e	Li & Fung Ltd		2,420
	12,000		Lifestyle International Holdings Ltd		27
	2,693,445		Link Real Estate Investment Trust		14,690
	50,000		MGM China Holdings Ltd		107
	404,915		MTR Corp		1,611
	1,027,771		New World Development Ltd		1,747
	348,263		Noble Group Ltd		343
	129,425		NWS Holdings Ltd		231
	17,864		Orient Overseas International Ltd		121
	276,749		PCCW Ltd		129
	10,566,900		Samsonite International		26,518
	2,770,286	*	Shanghai Real Estate Ltd		107
	139,345		Shangri-La Asia Ltd		274
	267,969		Sino Land Co		456
	170,000		SJM Holdings Ltd		426
	882,932		Sun Hung Kai Properties Ltd		11,915
	143,293		Swire Pacific Ltd (Class A)		1,831
	147,956		Swire Properties Ltd		526
	1,235,662		Wharf Holdings Ltd		11,051
	83,780		Wheelock & Co Ltd		447
	16,302		Wing Hang Bank Ltd		174
	65,589		Yue Yuen Industrial Holdings		214
			TOTAL HONG KONG		208,101
INDIA - 0.5%
	2,006,779	*	DEN Networks Ltd		7,027
	1,530,483		Dhanalakshmi Bank Ltd		1,294
	4,265,804		DLF Ltd		18,488
	787,416		Geodesic Information Systems Ltd		138
	383,004	*	Hathway Cables and Datacom Pvt Ltd		1,899
	8,950,000	*	IBN18 Broadcast Ltd		4,650
	1,764,100		Infrastructure Development Finance Co Ltd		4,677
	400,070		ING Vysya Bank Ltd		4,099
	350,000		ITC Ltd		1,994
	3,620,000		Jaiprakash Associates Ltd		4,382
	283,431		Jyothy Laboratories Ltd		867
	187,600		Larsen & Toubro Ltd		4,729
	454,322		LIC Housing Finance Ltd		1,883
	90,834		Prestige Estates Projects Ltd		274

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	779,738		Puravankara Projects Ltd	$	1,297
	200,000		Sun Pharmaceuticals Industries Ltd		3,017
	813,513		Sunteck Realty Ltd		5,982
	30,756,522		Unitech Ltd		13,363
	6,471		Vedanta Resources plc		99
	50,000	*	Wockhardt Ltd		1,840
	5,170,700	*	Zee Entertainment Enterprises Ltd		6,393
			TOTAL INDIA		88,392
INDONESIA - 0.1%
	33,000,000		PT Lippo Karawaci Tbk		4,662
	33,842,500	*	PT MNC Sky Vision Tbk		7,661
	4,000,000		PT Telekomunikasi Indonesia Tbk (Series B)		4,540
			TOTAL INDONESIA		16,863
IRELAND - 0.7%
	1,422,839		CRH plc		31,418
	6,125		CRH plc (Ireland)		136
	44,265	*	Elan Corp plc		513
	4,790	*,e	Elan Corp plc (ADR)		57
	147,992	*,m	Irish Bank Resolution Corp Ltd		0	^
	59,946		James Hardie Industries NV		629
	296,950		Kerry Group plc (Class A)		17,694
	135,500		Paddy Power plc		12,228
	521	*	Prothena Corp plc		3
	14,350		Ryanair Holdings plc		110
	459,951		Ryanair Holdings plc (ADR)		19,217
	395,953		Shire Ltd		12,059
	657,400		Smurfit Kappa Group plc		10,899
	220,000	*,e	Smurfit Kappa Group plc (Euro Comp)		3,614
	79,319		XL Capital Ltd		2,403
			TOTAL IRELAND		110,980
ISLE OF MAN - 0.0%
	3,631,384	*	Unitech Corporate Parks plc		2,000
			TOTAL ISLE OF MAN		2,000
ISRAEL - 0.1%
	53,824		Bank Hapoalim Ltd		245
	63,610		Bank Leumi Le-Israel		225
	103,942		Bezeq Israeli Telecommunication Corp Ltd		144
	292		Delek Group Ltd		82
	23,479		Israel Chemicals Ltd		304
	128		Israel Corp Ltd		97
	2,143	*	Mellanox Technologies Ltd		119
	6,605	*	Mizrahi Tefahot Bank Ltd		71
	3,180	*	Nice Systems Ltd		117
	49,059		Teva Pharmaceutical Industries Ltd		1,950
	450,878		Teva Pharmaceutical Industries Ltd (ADR)		17,891
			TOTAL ISRAEL		21,245

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
ITALY - 0.6%
	228,506		ACEA S.p.A.	$	1,215
	118,433		Assicurazioni Generali S.p.A.		1,854
	4,780	e	Autogrill S.p.A.		57
	31,834		Autostrade S.p.A.		504
	908,747		Banca Intesa S.p.A.		1,339
	97,033		Banca Intesa S.p.A. RSP		123
	454,035	*,e	Banca Monte dei Paschi di Siena S.p.A.		108
	73,381		Banche Popolari Unite Scpa		272
	122,097	*	Banco Popolare Scarl		155
	330,500	*,e	Brunello Cucinelli S.p.A		6,968
	894,154		De’Longhi S.p.A.		14,096
	99,783		Enel Green Power S.p.A		188
	356,729		Enel S.p.A.		1,170
	641,056		ENI S.p.A.		14,352
	156,696	e	Exor S.p.A.		4,392
	82,160		Fiat Industrial S.p.A.		927
	85,191	*	Fiat S.p.A.		455
	40,636	*	Finmeccanica S.p.A.		196
	711,009		Lottomatica S.p.A.		16,742
	450,934		Luxottica Group S.p.A.		22,641
	33,194		Mediaset S.p.A.		68
	51,519		Mediobanca S.p.A.		263
	305,041	e	Pirelli & C S.p.A.		3,209
	15,471		Prysmian S.p.A.		319
	26,658		Saipem S.p.A.		819
	88,002		Snam Rete Gas S.p.A.		402
	311,901		Telecom Italia RSP		192
	767,930		Telecom Italia S.p.A.		542
	70,467		Terna Rete Elettrica Nazionale S.p.A.		293
	390,344	*	UniCredit S.p.A		1,676
	481,199	*	Yoox S.p.A		9,045
			TOTAL ITALY		104,582
JAPAN - 8.0%
	1,900	e	ABC-Mart, Inc		72
	2,540	*,e	Acom Co Ltd		73
	300	*	Activia Properties Inc		2,884
	2,090	*	Advance Residence Investment Corp		5,608
	19,643	e	Advantest Corp		278
	227,309	e	Aeon Co Ltd		2,943
	9,603	e	Aeon Credit Service Co Ltd		272
	9,900		Aeon Mall Co Ltd		302
	12,000		Air Water, Inc		167
	258,642		Aisin Seiki Co Ltd		9,534
	53,529		Ajinomoto Co, Inc		787
	5,157		Alfresa Holdings Corp		281
	84,435	e	All Nippon Airways Co Ltd		174
	28,744		Amada Co Ltd		191
	7,599,848	e	Aozora Bank Ltd		21,494
	317,507		Asahi Breweries Ltd		7,592
	82,773		Asahi Glass Co Ltd		577

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	874,134		Asahi Kasei Corp	$	5,908
	9,400		Asics Corp		155
	186,841		Astellas Pharma, Inc		10,083
	26,105		Bank of Kyoto Ltd		256
	373,971		Bank of Yokohama Ltd		2,170
	26,283		Benesse Corp		1,119
	779,004		Bridgestone Corp		26,212
	30,085		Brother Industries Ltd		312
	11,000	e	Calbee, Inc		866
	773,297		Canon, Inc		28,419
	29,923	*,e	Casio Computer Co Ltd		234
	56,600		Central Japan Railway Co		5,981
	283,323		Chiba Bank Ltd		2,042
	13,000	e	Chiyoda Corp		146
	85,166	e	Chubu Electric Power Co, Inc		1,037
	83,958		Chugai Pharmaceutical Co Ltd		1,871
	14,100		Chugoku Bank Ltd		228
	37,753		Chugoku Electric Power Co, Inc		493
	20,842		Citizen Watch Co Ltd		107
	7,771		Coca-Cola West Japan Co Ltd		135
	75,343		Cosmo Oil Co Ltd		159
	9,855	e	Credit Saison Co Ltd		247
	1,200		Crescendo Investment Corp		1,171
	72,076	e	Dai Nippon Printing Co Ltd		689
	23,630		Daicel Chemical Industries Ltd		185
	34,698	e	Daido Steel Co Ltd		185
	24,290	*,e	Daihatsu Motor Co Ltd		505
	11,127		Dai-ichi Mutual Life Insurance Co		14,932
	87,497		Daiichi Sankyo Co Ltd		1,689
	86,046		Daikin Industries Ltd		3,386
	20,763	e	Dainippon Sumitomo Pharma Co Ltd		367
	19,611		Daito Trust Construction Co Ltd		1,683
	64,856		Daiwa House Industry Co Ltd		1,269
	1,794,400	*	Daiwa Securities Group, Inc		12,720
	32,300	e	Dena Co Ltd		881
	58,676		Denki Kagaku Kogyo KK		212
	308,745		Denso Corp		13,118
	22,755	e	Dentsu, Inc		680
	83,300		Don Quijote Co Ltd		3,695
	106,752		East Japan Railway Co		8,787
	91,117	e	Eisai Co Ltd		4,082
	42,793		Electric Power Development Co		1,089
	5,300	*,m	Elpida Memory, Inc		0	^
	7,644		FamilyMart Co Ltd		349
	34,043	*	Fanuc Ltd		5,242
	16,518	e	Fast Retailing Co Ltd		5,282
	44,822	*	Fuji Electric Holdings Co Ltd		132
	353,184		Fuji Folms Holdings Corp		7,006
	785,742		Fuji Heavy Industries Ltd		12,463
	3,000		Fuji Television Network, Inc		5,216
	1,141,991		Fujitsu Ltd		4,771
	64,663		Fukuoka Financial Group, Inc		324

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	83,805	e	Furukawa Electric Co Ltd	$	186
	7,800	*,e	Gree, Inc		98
	48,110	e	GS Yuasa Corp		202
	30,879		Gunma Bank Ltd		184
	31,842		Hachijuni Bank Ltd		191
	2,935		Hakuhodo DY Holdings, Inc		226
	5,737		Hamamatsu Photonics KK		228
	71,000	e	Hankyu Hanshin Holdings, Inc		429
	278,782		Hino Motors Ltd		3,027
	10,687	e	Hirose Electric Co Ltd		1,410
	41,000		Hiroshima Bank Ltd		199
	8,067	e	Hisamitsu Pharmaceutical Co, Inc		437
	12,852	e	Hitachi Chemical Co Ltd		197
	8,722	e	Hitachi Construction Machinery Co Ltd		188
	23,500		Hitachi High-Technologies Corp		491
	200,000		Hitachi Kokusai Electric, Inc		1,770
	5,910,685		Hitachi Ltd		34,507
	256,907	e	Hitachi Medical Corp		4,112
	21,000	e	Hitachi Metals Ltd		201
	23,384	*	Hokkaido Electric Power Co, Inc		239
	26,000		Hokuhoku Financial Group, Inc		53
	22,531	e	Hokuriku Electric Power Co		278
	790,868		Honda Motor Co Ltd		30,457
	116,553	*	Hoya Corp		2,198
	16,166	*,e	Ibiden Co Ltd		253
	3,052	*	Ichigo Real Estate Investment Corp		2,227
	34,747	e	Idemitsu Kosan Co Ltd		3,031
	221		Inpex Holdings, Inc		1,190
	171,481	e	Isetan Mitsukoshi Holdings Ltd		2,479
	2,978,978	e	Ishikawajima-Harima Heavy Industries Co Ltd		9,070
	154,169		Isuzu Motors Ltd		934
	629,670		Itochu Corp		7,737
	103,462		Itochu Techno-Science Corp		5,122
	19,652		Iyo Bank Ltd		182
	490,050		J Front Retailing Co Ltd		3,827
	55,000	*,e	Jafco Co Ltd		1,979
	30,300		Japan Airlines Co Ltd		1,411
	3,700		Japan Petroleum Exploration Co		146
	87		Japan Prime Realty Investment Corp		337
	66	*	Japan Real Estate Investment Corp		915
	717	*	Japan Retail Fund Investment Corp		1,779
	24,560	e	Japan Steel Works Ltd		130
	536,300		Japan Tobacco, Inc		17,155
	414,004	e	JFE Holdings, Inc		8,013
	76,978		JGC Corp		1,976
	140,000	e	Jin Co Ltd		7,757
	53,624		Joyo Bank Ltd		299
	23,553		JSR Corp		483
	37,003		JTEKT Corp		350
	241		Jupiter Telecommunications Co		316
	838,000		JX Holdings, Inc		4,725
	107,372		Kajima Corp		292

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	212,252		Kamigumi Co Ltd	$	1,953
	33,900		Kaneka Corp		196
	98,474	*	Kansai Electric Power Co, Inc		934
	26,480		Kansai Paint Co Ltd		294
	32,853		Kao Corp		1,063
	517,212		Kawasaki Heavy Industries Ltd		1,639
	43,000	*,e	Kawasaki Kisen Kaisha Ltd		92
	204,000	e	KDDI Corp		8,530
	202,022	e	Keihin Electric Express Railway Co Ltd		2,110
	222,310		Keio Corp		1,911
	34,426		Keisei Electric Railway Co Ltd		364
	1,600		Kenedix Realty Investment Corp		7,770
	13,485		Keyence Corp		4,143
	12,795	e	Kikkoman Corp		224
	16,131		Kinden Corp		106
	396,914	e	Kintetsu Corp		1,851
	110,849		Kirin Brewery Co Ltd		1,782
	323,084	*,e	Kobe Steel Ltd		380
	8,000	*	Koito Manufacturing Co Ltd		138
	348,622		Komatsu Ltd		8,338
	6,073	e	Konami Corp		122
	61,613		Konica Minolta Holdings, Inc		452
	92,158		Kubota Corp		1,337
	28,274		Kuraray Co Ltd		399
	9,345		Kurita Water Industries Ltd		208
	53,812	*	Kyocera Corp		4,937
	33,045		Kyowa Hakko Kogyo Co Ltd		375
	52,784	*	Kyushu Electric Power Co, Inc		538
	21,551		Lawson, Inc		1,655
	85,523	e	LIXIL Group Corp		1,706
	51,516		Mabuchi Motor Co Ltd		2,786
	38,036	*	Makita Corp		1,696
	1,391,072		Marubeni Corp		10,650
	18,409		Marui Co Ltd		191
	5,496		Maruichi Steel Tube Ltd		128
	183,555	e	Matsushita Electric Industrial Co Ltd		1,382
	4,968,350	*	Mazda Motor Corp		14,614
	5,500	e	McDonald’s Holdings Co Japan Ltd		148
	18,912		Mediceo Paltac Holdings Co Ltd		265
	5,149	e	MEIJI Holdings Co Ltd		236
	565,064		Millea Holdings, Inc		16,348
	17,400		Miraca Holdings, Inc		836
	997,219	e	Mitsubishi Chemical Holdings Corp		4,753
	630,595	e	Mitsubishi Corp		11,877
	848,814		Mitsubishi Electric Corp		6,905
	132,705		Mitsubishi Estate Co Ltd		3,759
	48,160		Mitsubishi Gas Chemical Co, Inc		319
	1,008,150		Mitsubishi Heavy Industries Ltd		5,833
	14,262		Mitsubishi Logistics Corp		265
	386,293		Mitsubishi Materials Corp		1,093
	491,130	*	Mitsubishi Motors Corp		514
	3,789,054		Mitsubishi UFJ Financial Group, Inc		22,860

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	74,200		Mitsubishi UFJ Lease & Finance Co Ltd	$	389
	1,080,704	e	Mitsui & Co Ltd		15,236
	97,087	e	Mitsui Chemicals, Inc		212
	482,137		Mitsui Fudosan Co Ltd		13,769
	2,244,499	*	Mitsui OSK Lines Ltd		7,427
	69,207	e	Mitsui Sumitomo Insurance Group Holdings, Inc		1,541
	1,249,918		Mitsui Trust Holdings, Inc		5,952
	13,200,856	e	Mizuho Financial Group, Inc		28,326
	4,631	e	Monex Beans Holdings, Inc		1,877
	291,900	e	MonotaRO Co Ltd		14,279
	74,120		Murata Manufacturing Co Ltd		5,604
	8,100	e	Nabtesco Corp		166
	310,906		Namco Bandai Holdings, Inc		5,500
	159,615		NEC Corp		426
	7,200	*	Nexon Co Ltd		70
	56,179	e	NGK Insulators Ltd		600
	20,988		NGK Spark Plug Co Ltd		322
	19,938	*	NHK Spring Co Ltd		209
	82,506	e	Nidec Corp		4,946
	92,381		Nikon Corp		2,176
	31,758		Nintendo Co Ltd		3,433
	237	*	Nippon Building Fund, Inc		3,321
	47,184		Nippon Electric Glass Co Ltd		236
	110,441		Nippon Express Co Ltd		530
	116,200	e	Nippon Kayaku Co Ltd		1,422
	13,944	e	Nippon Meat Packers, Inc		225
	12,587	e	Nippon Paper Group, Inc		192
	495	*	Nippon ProLogis REIT, Inc		5,390
	18,000		Nippon Sheet Glass Co Ltd		20
	3,014,721		Nippon Steel Corp		7,679
	165,630		Nippon Telegraph & Telephone Corp		7,231
	553,308	*,e	Nippon Yusen Kabushiki Kaisha		1,426
	55,721		Nishi-Nippon City Bank Ltd		173
	727,443		Nissan Motor Co Ltd		7,057
	23,618		Nisshin Seifun Group, Inc		312
	4,600		Nisshin Steel Holdings Co Ltd		36
	8,135	e	Nissin Food Products Co Ltd		373
	126,100		Nissin Kogyo Co Ltd		2,106
	2,906		Nitori Co Ltd		224
	153,937		Nitto Denko Corp		9,269
	48,500	e	NKSJ Holdings, Inc		1,022
	14,051	e	NOK Corp		203
	1,264,563		Nomura Holdings, Inc		7,863
	11,674	e	Nomura Real Estate Holdings, Inc		262
	30		Nomura Real Estate Office Fund, Inc		221
	12,964		Nomura Research Institute Ltd		335
	35,911	e	NSK Ltd		274
	9,000		NTN Corp		24
	165	e	NTT Data Corp		545
	5,415	e	NTT DoCoMo, Inc		8,050
	145		NTT Urban Development Corp		175
	82,259		Obayashi Corp		394

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	239,398	e	Odakyu Electric Railway Co Ltd	$	2,984
	103,797	e	OJI Paper Co Ltd		390
	15,100		Okinawa Electric Power Co, Inc		520
	651,200	*	Olympus Corp		15,452
	76,302		Omron Corp		1,930
	80,798	e	Ono Pharmaceutical Co Ltd		4,994
	106,617		Oriental Land Co Ltd		17,465
	2,904,610	*	ORIX Corp		37,086
	689,881		Osaka Gas Co Ltd		3,017
	3,200	e	Osaka Securities Exchange Co Ltd		297
	3,087		Otsuka Corp		336
	160,600		Otsuka Holdings KK		5,574
	813,100		Park24 Co Ltd		15,919
	412,500	*	Rakuten, Inc		4,219
	1,176,030	e	Resona Holdings, Inc		6,210
	77,581	e	Ricoh Co Ltd		847
	2,699		Rinnai Corp		192
	21,524		Rohm Co Ltd		746
	4,180		Sankyo Co Ltd		196
	301,200	e	Sanrio Co Ltd		13,378
	9,387		Santen Pharmaceutical Co Ltd		434
	18,524	e	SBI Holdings, Inc		165
	63,634		Secom Co Ltd		3,284
	16,843		Sega Sammy Holdings, Inc		338
	2,700	e	Seiko Epson Corp		26
	53,951		Sekisui Chemical Co Ltd		596
	64,920		Sekisui House Ltd		882
	372,081		Seven & I Holdings Co Ltd		12,345
	45,500	e	Seven Bank Ltd		147
	82,106	*,e	Sharp Corp		235
	22,519	*	Shikoku Electric Power Co, Inc		321
	31,982	e	Shimadzu Corp		227
	1,797		Shimamura Co Ltd		210
	6,081		Shimano, Inc		498
	74,062		Shimizu Corp		243
	199,700		Shin-Etsu Chemical Co Ltd		13,245
	94,649	e	Shinsei Bank Ltd		218
	38,933		Shionogi & Co Ltd		789
	29,985	e	Shiseido Co Ltd		420
	33,301		Shizuoka Bank Ltd		376
	2,254,300		Shoei Co Ltd		18,560
	183,654	e	Showa Denko KK		277
	22,973		Showa Shell Sekiyu KK		163
	6,988		SMC Corp		1,357
	321,660		Softbank Corp		14,819
	161,536		Sojitz Holdings Corp		254
	341	e	So-net M3, Inc		666
	1,243,902	*,e	Sony Corp		21,645
	22,700		Sony Financial Holdings, Inc		340
	1,800	e	Square Enix Co Ltd		19
	18,415		Stanley Electric Co Ltd		319
	15,176	*	Sumco Corp		173

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	196,883		Sumitomo Chemical Co Ltd	$	620
	146,163	e	Sumitomo Corp		1,849
	62,676		Sumitomo Electric Industries Ltd		771
	73,625		Sumitomo Heavy Industries Ltd		292
	117,264		Sumitomo Metal Mining Co Ltd		1,667
	1,062,579		Sumitomo Mitsui Financial Group, Inc		43,592
	385,396	e	Sumitomo Realty & Development Co Ltd		15,014
	21,863		Sumitomo Rubber Industries, Inc		367
	251,654	e	Suruga Bank Ltd		4,044
	8,987		Suzuken Co Ltd		326
	29,722	e	Suzuki Motor Corp		666
	21,600		Sysmex Corp		1,316
	591,800	e	T&D Holdings, Inc		7,088
	1,550,910		Taiheiyo Cement Corp		3,725
	986,843	e	Taisei Corp		2,746
	58,400		Taisho Pharmaceutical Holdings Co Ltd		4,139
	32,357		Taiyo Nippon Sanso Corp		225
	35,718	e	Takashimaya Co Ltd		354
	316,548	e	Takeda Pharmaceutical Co Ltd		17,341
	81,581		Tanabe Seiyaku Co Ltd		1,251
	44,327	e	TDK Corp		1,558
	2,574,613		Teijin Ltd		5,974
	13,026		Terumo Corp		561
	61,876	e	THK Co Ltd		1,229
	329,878	e	Tobu Railway Co Ltd		1,894
	14,675		Toho Co Ltd		307
	55,000	e	Toho Gas Co Ltd		350
	57,815	*	Tohoku Electric Power Co, Inc		461
	177,660	*	Tokyo Electric Power Co, Inc		441
	51,210		Tokyo Electron Ltd		2,185
	2,113,924		Tokyo Gas Co Ltd		11,427
	400,852	e	Tokyu Corp		2,965
	56,414		Tokyu Land Corp		532
	72,427	e	Toppan Printing Co Ltd		523
	466,664		Toray Industries, Inc		3,170
	2,961,481		Toshiba Corp		15,102
	934,000	e	Tosoh Corp		2,676
	35,681	e	Toto Ltd		321
	19,539		Toyo Seikan Kaisha Ltd		270
	41,099		Toyo Suisan Kaisha Ltd		1,269
	8,097		Toyoda Gosei Co Ltd		195
	8,000	e	Toyota Boshoku Corp		113
	22,261		Toyota Industries Corp		820
	2,317,448	*	Toyota Motor Corp		119,501
	27,594		Toyota Tsusho Corp		707
	8,528	*	Trend Micro, Inc		239
	62,174		Tsumura & Co		2,273
	130,932		UBE Industries Ltd		259
	88,951	e	Uni-Charm Corp		5,079
	296,900	e	United Arrows Ltd		10,162
	153,484	e	Ushio, Inc		1,571
	1,793		USS Co Ltd		206

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,800		Wacom Co Ltd	$	6,979
	41,800		West Japan Railway Co		2,011
	12,738		Yahoo! Japan Corp		5,876
	44,877	e	Yakult Honsha Co Ltd		1,812
	7,139	e	Yamada Denki Co Ltd		328
	16,406		Yamaguchi Financial Group, Inc		164
	13,388		Yamaha Corp		130
	32,583	e	Yamaha Motor Co Ltd		441
	5,300		Yamato Kogyo Co Ltd		145
	49,755		Yamato Transport Co Ltd		903
	14,553		Yamazaki Baking Co Ltd		192
	28,384	e	Yaskawa Electric Corp		286
	23,210		Yokogawa Electric Corp		233
			TOTAL JAPAN		1,307,773
JERSEY, C.I. - 0.0%
	8,901		Randgold Resources Ltd		768
			TOTAL JERSEY, C.I.		768
KOREA, REPUBLIC OF - 0.3%
	73,131		KB Financial Group, Inc		2,443
	142,000		KT Corp		4,490
	84,700	e	Medy-Tox, Inc		8,711
	26,100		Samsung Electronics Co Ltd		35,575
			TOTAL KOREA, REPUBLIC OF		51,219
LUXEMBOURG - 0.0%
	93,784		ArcelorMittal		1,218
	7,092		Millicom International Cellular S.A.		567
	29,383		SES Global S.A.		922
	47,104		Tenaris S.A.		959
			TOTAL LUXEMBOURG		3,666
MACAU - 0.0%
	141,200		Wynn Macau Ltd		376
			TOTAL MACAU		376
MALAYSIA - 0.1%
	1,151,800		Public Bank BHD		6,045
	400,000		UMW Holdings BHD		1,731
	33,959		YNH Property BHD		21
			TOTAL MALAYSIA		7,797
MEXICO - 0.1%
	1,500,000		Alfa S.A. de C.V. (Class A)		3,663
	476,715		Fresnillo plc		9,860
	1,800,000	*,e	Genomma Lab Internacional S.A. de C.V.		4,402
			TOTAL MEXICO		17,925
NETHERLANDS - 2.2%
	168,299		Aegon NV		1,016

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	632,333		Akzo Nobel NV	$	40,176
	32,879		ASML Holding NV		2,215
	6,686		Boskalis Westminster		266
	6,064		Corio NV		283
	3,725,168	*	D.E Master Blenders 1753 NV		57,540
	6,393		Delta Lloyd NV		110
	601,929		DSM NV		35,076
	683,616		European Aeronautic Defence and Space Co		34,843
	6,768		Fugro NV		375
	142,170		Gemalto NV		12,411
	10,669		Heineken Holding NV		685
	292,417		Heineken NV		22,056
	2,481,598	*	ING Groep NV		17,856
	611,334		Koninklijke Ahold NV		9,372
	99,517		Koninklijke Philips Electronics NV		2,944
	3,827		Koninklijke Vopak NV		231
	316,000	*	NXP Semiconductors NV		9,562
	23,306	*	Qiagen N.V.		487
	11,071		Randstad Holdings NV		454
	463,686		Reed Elsevier NV		7,949
	1,544,856		Royal Dutch Shell plc (A Shares)		50,090
	839,887		Royal Dutch Shell plc (B Shares)		27,931
	113,537	e	Royal KPN NV		382
	7,052	*	SBM Offshore NV		118
	34,421		TNT Express NV		252
	378,605		Unilever NV		15,513
	29,022		Wolters Kluwer NV		634
	6,806		Ziggo NV		240
			TOTAL NETHERLANDS		351,067
NEW ZEALAND - 0.0%
	120,927		Auckland International Airport Ltd		298
	48,204		Contact Energy Ltd		230
	89,411		Fletcher Building Ltd		643
	77,930		Sky City Entertainment Group Ltd		288
	256,332		Telecom Corp of New Zealand Ltd		503
			TOTAL NEW ZEALAND		1,962
NORWAY - 0.6%
	443,771		Aker Kvaerner ASA		8,330
	99,400	*,e	Algeta ASA		3,348
	2,876,606		DNB NOR Holding ASA		42,335
	10,241		Gjensidige Forsikring BA		169
	92,524		Norsk Hydro ASA		403
	191,643	*	Norwegian Air Shuttle AS		6,979
	78,214		Orkla ASA		629
	636,713		Petroleum Geo-Services ASA		9,876
	32,048	e	SeaDrill Ltd		1,168
	113,182		Statoil ASA		2,763
	77,691		Telenor ASA		1,711
	380,695		Yara International ASA		17,378
			TOTAL NORWAY		95,089

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
PHILIPPINES - 0.2%
	13,750,000		Alliance Global Group, Inc	$	7,129
	15,559,500	*	Bloomberry Resorts Corp		5,423
	3,500,000		Manila Water Co, Inc		3,439
	2,771,610		Metropolitan Bank & Trust		7,946
	14,362,200		SM Prime Holdings		6,727
			TOTAL PHILIPPINES		30,664
PORTUGAL - 0.0%
	2,132,190	*,e	Banco Espirito Santo S.A.		2,187
	99,757		Energias de Portugal S.A.		308
	21,138	e	Galp Energia SGPS S.A.		331
	23,009		Jeronimo Martins SGPS S.A.		448
	61,125	e	Portugal Telecom SGPS S.A.		303
			TOTAL PORTUGAL		3,577
RUSSIA - 0.1%
	85,700		Magnit OAO (GDR)		3,880
	550,000		Sberbank of Russian Federation (ADR)		7,076
			TOTAL RUSSIA		10,956
SINGAPORE - 0.5%
	236,473		Ascendas Real Estate Investment Trust		497
	145,000		CapitaCommercial Trust		186
	883,082		CapitaLand Ltd		2,526
	726,362		CapitaMall Trust		1,226
	123,000		CapitaMalls Asia Ltd		204
	166,868	e	City Developments Ltd		1,530
	167,028		ComfortDelgro Corp Ltd		258
	631,025		DBS Group Holdings Ltd		8,167
	111,134	*	Flextronics International Ltd		751
	552,384	e	Genting International plc		668
	6,529,800		Global Logistic Properties		13,867
	625,497		Golden Agri-Resources Ltd		293
	514,000		Hotel Properties Ltd		1,367
	9,082		Jardine Cycle & Carriage Ltd		375
	409,425		Keppel Corp Ltd		3,709
	719,000		Keppel Land Ltd		2,293
	26,000		K-Green Trust		23
	18,000	*,e	Neptune Orient Lines Ltd		17
	103,155	e	Olam International Ltd		144
	1,088,699		Oversea-Chinese Banking Corp		9,379
	88,609		SembCorp Industries Ltd		372
	361,857	e	SembCorp Marine Ltd		1,298
	151,492		Singapore Airlines Ltd		1,331
	266,560		Singapore Exchange Ltd		1,661
	510,963	e	Singapore Press Holdings Ltd		1,848
	461,896		Singapore Technologies Engineering Ltd		1,609
	2,578,704		Singapore Telecommunications Ltd		7,477
	51,274		StarHub Ltd		180
	310,022		United Overseas Bank Ltd		5,111

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,064,965		United Overseas Land Ltd	$	6,014
	171,230		Wilmar International Ltd		479
			TOTAL SINGAPORE		74,860
SOUTH AFRICA - 0.2%
	300,000		Liberty Holdings Ltd		3,917
	2,712,100		Life Healthcare Group Holdings Pte Ltd		10,205
	900,000		Sanlam Ltd		4,619
	1,000,000		Woolworths Holdings Ltd		7,678
			TOTAL SOUTH AFRICA		26,419
SPAIN - 0.7%
	33,451		Abertis Infraestructuras S.A. (Continuous)		564
	2,743		Acciona S.A.		150
	6,596	e	Acerinox S.A.		68
	14,351		ACS Actividades Cons y Servicios S.A.		336
	871,614		Amadeus IT Holding S.A.		23,628
	461,963		Banco Bilbao Vizcaya Argentaria S.A.		4,034
	192,444	e	Banco de Sabadell S.A.		354
	307,346		Banco Popular Espanol S.A.		229
	953,699		Banco Santander Central Hispano S.A.		6,461
	41,267		Cintra Concesiones de Infraestructuras de Transporte S.A.		657
	74,210		Corp Mapfre S.A.		231
	84,342	e	Criteria Caixacorp S.A.		286
	1,997,485		Distribuidora Internacional de Alimentacion S.A.		13,863
	10,367		Enagas		242
	320,600		Endesa S.A.		6,779
	18,600		Gas Natural SDG S.A.		330
	13,985	*	Grifols S.A.		519
	325	*	Grifols S.A. (Class B)		9
	1,544,385		Iberdrola S.A.		7,220
	219,017		Inditex S.A.		29,186
	950,000		Prosegur Cia de Seguridad S.A.		5,263
	5,824		Red Electrica de Espana		293
	79,113		Repsol YPF S.A.		1,607
	976,486	*	Telefonica S.A.		13,230
	14,048		Zardoya Otis S.A.		188
			TOTAL SPAIN		115,727
SWEDEN - 0.8%
	34,194	e	Alfa Laval AB		789
	118,010		Assa Abloy AB (Class B)		4,824
	68,016		Atlas Copco AB (A Shares)		1,935
	39,449		Atlas Copco AB (B Shares)		1,000
	600,000	*	Biovitrum AB		3,857
	214,094		Boliden AB		3,458
	970,462	e	Electrolux AB (Series B)		24,738
	673,141		Elekta AB (B Shares)		10,211
	305,040	e	Ericsson (LM) (B Shares)		3,821
	625,000	*	Fingerprint Cards AB		3,331
	19,959		Getinge AB (B Shares)		609
	198,204		Hennes & Mauritz AB (B Shares)		7,099

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	12,674		Hexagon AB (B Shares)	$	346
	2,486	e	Holmen AB (B Shares)		74
	42,640	e	Husqvarna AB (B Shares)		252
	5,908		Industrivarden AB		108
	470,800		Intrum Justitia AB		9,103
	46,492		Investor AB (B Shares)		1,345
	11,161		Kinnevik Investment AB (Series B)		271
	12,151	*	Lundin Petroleum AB		264
	294,682		Nordea Bank AB		3,343
	9,597	e	Ratos AB (B Shares)		102
	286,937		Sandvik AB		4,426
	1,000,697		Scania AB (B Shares)		20,995
	32,137		Securitas AB (B Shares)		303
	148,389	e	Skandinaviska Enskilda Banken AB (Class A)		1,492
	38,884		Skanska AB (B Shares)		704
	260,733		SKF AB (B Shares)		6,371
	8,386		Ssab Svenskt Stal AB (Series A)		64
	58,195		Svenska Cellulosa AB (B Shares)		1,502
	49,772	e	Svenska Handelsbanken (A Shares)		2,129
	268,216	e	Swedbank AB (A Shares)		6,111
	23,047		Swedish Match AB		715
	31,413		Tele2 AB (B Shares)		548
	222,946	e	TeliaSonera AB		1,592
	330,000		Trelleborg AB (B Shares)		4,543
	131,346	e	Volvo AB (B Shares)		1,918
			TOTAL SWEDEN		134,293
SWITZERLAND - 4.0%
	172,982		ABB Ltd		3,927
	10,645		Actelion Ltd		579
	311,800		Adecco S.A.		17,102
	8,467		Aryzta AG.		500
	4,914		Baloise Holding AG.		462
	160		Banque Cantonale Vaudoise		89
	112		Barry Callebaut AG.		108
	422,168		Compagnie Financiere Richemont S.A.		33,238
	1,079,841		Credit Suisse Group		28,401
	463	*	EMS-Chemie Holding AG.		139
	3,860		Geberit AG.		952
	4,698		Givaudan S.A.		5,775
	205,029	e	Glencore International AG.		1,112
	499,133		Holcim Ltd		39,869
	12,193		Julius Baer Group Ltd		475
	5,466		Kuehne & Nagel International AG.		597
	89		Lindt & Spruengli AG.		343
	11		Lindt & Spruengli AG. (Reg)		496
	287,471		Lonza Group AG.		18,690
	1,518,431		Nestle S.A.		109,896
	1,741,442		Novartis AG.		124,116
	253,000		Novartis AG. (ADR)		18,024
	2,566		Pargesa Holding S.A.		175
	874		Partners Group		216

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	4,834		Phonak Holding AG.	$	580
	520,577		Roche Holding AG.		121,358
	2,515		Schindler Holding AG.		369
	1,071		Schindler Holding AG. (Reg)		153
	517		SGS S.A.		1,269
	116		Sika AG.		282
	68,467		STMicroelectronics NV		529
	368	e	Straumann Holding AG.		50
	1,224		Sulzer AG.		209
	3,348		Swatch Group AG.		1,952
	3,084		Swatch Group AG. Reg		314
	3,053		Swiss Life Holding		454
	2,854		Swiss Prime Site AG.		231
	552,943		Swiss Re Ltd		45,033
	2,392		Swisscom AG.		1,108
	87,517		Syngenta AG.		36,622
	70,382		Tyco Electronics Ltd		2,951
	2,429,819		UBS AG. (Switzerland)		37,364
	14,903		Zurich Financial Services AG.		4,160
			TOTAL SWITZERLAND		660,269
TAIWAN - 0.4%
	1,080,000		Cleanaway Co Ltd		8,116
	414,000		Ginko International Co Ltd		6,840
	981,000		King Slide Works Co Ltd		7,650
	14,000,000		Taishin Financial Holdings Co Ltd		5,853
	360,000		Taiwan Semiconductor Manufacturing Co Ltd		1,206
	1,485,000		TPK Holding Co Ltd		29,730
			TOTAL TAIWAN		59,395
THAILAND - 0.3%
	850,000		Bangkok Bank PCL (ADR)		6,468
	5,538,000		Bank of Ayudhya PCL - NVDR		6,545
	2,111,000		BEC World PCL (Foreign)		4,626
	3,859,400		Indorama Ventures PCL (Foreign)		3,005
	1,157,000		Kasikornbank PCL - NVDR		8,245
	9,500,000		Krung Thai Bank PCL		8,074
	12,000,000		Thai Beverage PCL		5,910
			TOTAL THAILAND		42,873
TURKEY - 0.4%
	213,000		Coca-Cola Icecek AS		6,034
	2,679,000		Emlak Konut Gayrimenkul Yatiri		4,282
	250,000		Ford Otomotiv Sanayi AS		3,595
	1,373,000		Haci Omer Sabanci Holding AS		8,128
	400,000		Koza Altin Isletmeleri AS		9,355
	1,177,700		TAV Havalimanlari Holding AS		7,589
	930,000		Tofas Turk Otomobil Fabrik		6,713
	1,000,000	*	Turk Hava Yollari		4,092
	180,000		Turk Traktor ve Ziraat Makineleri AS		5,924
	490,869		Turkiye Halk Bankasi AS		5,250
	1,000,000		Turkiye Is Bankasi (Series C)		3,805

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,400,000		Turkiye Vakiflar Bankasi Tao	$	4,492
			TOTAL TURKEY		69,259
UKRAINE - 0.0%
	407,456	*	MHP SA (GDR)		7,232
			TOTAL UKRAINE		7,232
UNITED KINGDOM - 8.5%
	96,771		3i Group plc		466
	46,420		Aberdeen Asset Management plc		303
	15,333	e	Acergy S.A.		360
	19,775		Admiral Group plc		401
	2,400,000	*	Afren plc		5,187
	484,651		Aggreko plc		13,154
	17,274		AMEC plc		278
	136,343		Anglo American plc (London)		3,521
	1,821,012		Antofagasta plc		27,335
	1,223,949		ARM Holdings plc		17,246
	3,245,335		Ashtead Group plc		29,036
	380,128	*,e	ASOS plc		19,377
	529,144		Associated British Foods plc		15,305
	125,649		AstraZeneca plc		6,303
	10,548		AstraZeneca plc (ADR)		527
	1,122,234	*,e	Avanti Communications Group plc		5,252
	542,461		Aveva Group plc		18,705
	286,944		Aviva plc		1,301
	2,086,906		AZ Electronic Materials S.A.		12,076
	19,436		Babcock International Group		322
	342,470		BAE Systems plc		2,056
	68,082		Balfour Beatty plc		243
	20,410,057		Barclays plc		90,810
	1,777,236		BG Group plc		30,583
	1,008,454		BHP Billiton plc		29,368
	4,251,400		BP plc		29,896
	27,974		BP plc (ADR)		1,185
	183,743		British American Tobacco plc		9,853
	535,658		British Land Co plc		4,434
	2,568,948		British Sky Broadcasting plc		34,529
	5,610,481		BT Group plc		23,696
	317,576		Bunzl plc		6,268
	23,748		Burberry Group plc		481
	35,491		Capita Group plc		485
	9,877		Carnival plc		345
	2,305,656		Centrica plc		12,906
	57,668		Cobham plc		214
	188,156		Compass Group plc		2,408
	39,144		Croda International plc		1,635
	699,474		Delphi Automotive plc		31,057
	1,452,090		Diageo plc		45,756
	417,700		easyJet plc		6,873
	124,046		Ensco plc		7,443
	1,543,106	*	esure Group plc		7,034

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	13,590		Eurasian Natural Resources Corp	$	51
	17,710		Evraz plc		60
	1,617,748		Experian Group Ltd		28,039
	83,298		GKN plc		336
	1,088,555		GlaxoSmithKline plc		25,491
	135,638		Group 4 Securicor plc		603
	71,189		Hammerson plc		534
	12,855		Hargreaves Lansdown plc		170
	6,916,340		HSBC Holdings plc		73,794
	54,694		ICAP plc		242
	17,326		IMI plc		342
	223,834		Imperial Tobacco Group plc		7,829
	350,000		Inchcape plc		2,680
	24,165		Inmarsat plc		259
	26,364		InterContinental Hotels Group plc		806
	79,038	*	International Consolidated Airlines		305
	8,678		Intertek Group plc		448
	45,328		Invensys plc		243
	47,909		Investec plc		335
	191,536		ITV plc		378
	122,847		J Sainsbury plc		708
	10,812		Johnson Matthey plc		379
	10,730		Kazakhmys plc		64
	128,528		Kingfisher plc		563
	900,000		Ladbrokes plc		3,091
	77,690		Land Securities Group plc		981
	11,277,190		Legal & General Group plc		29,676
	51,466		Liberty International plc		262
	35,731,579	*	Lloyds TSB Group plc		26,624
	16,683		London Stock Exchange Group plc		332
	81,128		Man Group plc		110
	87,085		Marks & Spencer Group plc		516
	41,323		Meggitt plc		309
	65,077		Melrose Industries plc		263
	540,000		Mondi plc		7,354
	18,387,917	*,e	Monitise plc		10,338
	356,344		National Grid plc		4,141
	1,200,000		New Carphone Warehouse plc		3,674
	395,240		Next plc		26,258
	481,472		Old Mutual plc		1,488
	408,140		Pearson plc		7,344
	24,345		Petrofac Ltd		531
	3,230,848		Prudential plc		52,474
	63,971		Reckitt Benckiser Group plc		4,593
	65,978		Reed Elsevier plc		785
	79,823		Resolution Ltd		332
	79,014		Rexam plc		634
	461,395		Rio Tinto Ltd		27,675
	1,273,575		Rio Tinto plc		59,986
	305,820	e	Rio Tinto plc (ADR)		14,398
	2,042,069		Rolls-Royce Group plc		35,138
	350,103		Royal & Sun Alliance Insurance Group plc		621

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,596,165	*	Royal Bank of Scotland Group plc	$	10,909
	554,399		SABMiller plc		29,242
	126,600		Sage Group plc		660
	11,287		Schroders plc		363
	94,669		Scottish & Southern Energy plc		2,140
	78,723		Segro plc		305
	50,787		Serco Group plc		485
	24,131		Severn Trent plc		629
	80,000		Signet Jewelers Ltd		5,360
	91,378		Smith & Nephew plc		1,057
	171,445		Smiths Group plc		3,283
	180,000		Spectris plc		6,720
	2,469,355		Standard Chartered plc		64,120
	230,474		Standard Life plc		1,285
	449,662		Tate & Lyle plc		5,810
	1,497,173		Telecity Group plc		20,597
	689,159		Tesco plc		4,006
	936,800		Travis Perkins plc		20,744
	48,136		TUI Travel plc		239
	1,075,642		Tullow Oil plc		20,136
	407,475		Unilever plc		17,235
	70,148		United Utilities Group plc		756
	90,166		Virgin Media, Inc		4,415
	18,699,649		Vodafone Group plc		53,064
	42,874		Vodafone Group plc (ADR)		1,218
	11,506		Weir Group plc		397
	438,167		Whitbread plc		17,138
	900,000		William Hill plc		5,065
	224,725		WM Morrison Supermarkets plc		945
	699,350		Wolseley plc		34,877
	2,265,954		WPP plc		36,212
	212,175		Xstrata plc		3,454
			TOTAL UNITED KINGDOM		1,393,466
UNITED STATES - 52.8%
	113,055		3M Co		12,019
	42,500		A.O. Smith Corp		3,127
	843,267		Abbott Laboratories		29,784
	395,930		AbbVie, Inc		16,146
	165,423		Abercrombie & Fitch Co (Class A)		7,643
	638,382		Accenture plc		48,498
	731,200		ACE Ltd		65,055
	124,817	*	Actavis, Inc		11,497
	47,270		Activision Blizzard, Inc		689
	253,143	*	Adobe Systems, Inc		11,014
	605,442		ADT Corp		29,630
	7,669		Advance Auto Parts, Inc		634
	161,356		AES Corp		2,028
	222,458		Aetna, Inc		11,372
	60,914	*	Affiliated Managers Group, Inc		9,355
	90,970		Aflac, Inc		4,732
	151,351		AGCO Corp		7,888

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	42,920		Agilent Technologies, Inc	$	1,801
	30,483		Air Products & Chemicals, Inc		2,656
	13,625		Airgas, Inc		1,351
	36,829	*	Akamai Technologies, Inc		1,300
	9,392		Albemarle Corp		587
	111,858		Alcoa, Inc		953
	212,367	*	Alexion Pharmaceuticals, Inc		19,567
	1,251	*	Alleghany Corp		495
	10,098		Allegheny Technologies, Inc		320
	210,296		Allergan, Inc		23,475
	158,478	*,e	Alliance Data Systems Corp		25,656
	43,360		Alliant Energy Corp		2,176
	25,500		Allied World Assurance Co Holdings Ltd		2,364
	1,223	*	Allscripts Healthcare Solutions, Inc		17
	154,797		Allstate Corp		7,596
	33,833		Altera Corp		1,200
	992,962		Altria Group, Inc		34,148
	148,900	*	Amazon.com, Inc		39,680
	35,058		Ameren Corp		1,228
	36,226		American Capital Agency Corp		1,187
	102,434		American Eagle Outfitters, Inc		1,916
	97,366		American Electric Power Co, Inc		4,735
	835,912		American Express Co		56,391
	33,900		American Financial Group, Inc		1,606
	173,354	*	American International Group, Inc		6,730
	294,609		American Tower Corp		22,661
	73,761		American Water Works Co, Inc		3,057
	105,232		Ameriprise Financial, Inc		7,750
	69,055		AmerisourceBergen Corp		3,553
	90,165		Ametek, Inc		3,910
	338,738		Amgen, Inc		34,724
	71,364		Amphenol Corp (Class A)		5,327
	394,063		Anadarko Petroleum Corp		34,461
	77,260		Analog Devices, Inc		3,592
	129,283		Annaly Capital Management, Inc		2,054
	19,664	*	Ansys, Inc		1,601
	80,000		AOL, Inc		3,079
	46,592		Aon plc		2,865
	75,951		Apache Corp		5,860
	519,558		Apple, Inc		229,972
	191,338		Applied Materials, Inc		2,579
	63,990	*	Arch Capital Group Ltd		3,364
	203,796		Archer Daniels Midland Co		6,874
	200,000	*	Arris Group, Inc		3,434
	22,349	*	Arrow Electronics, Inc		908
	334,519		Ashland, Inc		24,855
	25,930		Assurant, Inc		1,167
	2,153,714		AT&T, Inc		79,020
	48,374	*	Autodesk, Inc		1,995
	9,734	e	Autoliv, Inc		673
	76,704		Automatic Data Processing, Inc		4,987
	1,375	*	Autonation, Inc		60

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	12,742	*	Autozone, Inc	$	5,056
	591,289		Avago Technologies Ltd		21,239
	66,297		AvalonBay Communities, Inc		8,398
	10,100		Avery Dennison Corp		435
	29,449	*	Avnet, Inc		1,066
	67,120		Avon Products, Inc		1,391
	123,901		Axiall Corp		7,702
	366,823		Axis Capital Holdings Ltd		15,267
	88,741		Baker Hughes, Inc		4,118
	40,277		Ball Corp		1,916
	80,000	*	Bally Technologies, Inc		4,158
	4,754,074		Bank of America Corp		57,905
	237,270		Bank of New York Mellon Corp		6,641
	8,231		Bard (C.R.), Inc		830
	564,370		Baxter International, Inc		40,996
	96,828		BB&T Corp		3,039
	122,068		Beam, Inc		7,756
	33,093		Becton Dickinson & Co		3,164
	301,828	*	Bed Bath & Beyond, Inc		19,444
	687,341	*	Berkshire Hathaway, Inc (Class B)		71,621
	354,678		Best Buy Co, Inc		7,856
	267,404	*	Biogen Idec, Inc		51,585
	380	*	Bio-Rad Laboratories, Inc (Class A)		48
	23,091		BlackRock, Inc		5,932
	751,082		Blackstone Group LP		14,856
	35,257	*	BMC Software, Inc		1,633
	233,610		Boeing Co		20,055
	12,108	*	BorgWarner, Inc		936
	25,101		Boston Properties, Inc		2,537
	220,249	*	Boston Scientific Corp		1,720
	43,900		Brinker International, Inc		1,653
	225,514		Bristol-Myers Squibb Co		9,289
	301,929		Broadcom Corp (Class A)		10,468
	160,000		Broadridge Financial Solutions, Inc		3,974
	1,000,000	*	Brocade Communications Systems, Inc		5,770
	35,558	e	Brookfield Office Properties, Inc (Toronto)		610
	75,556		Brown-Forman Corp (Class B)		5,395
	48,481		Bunge Ltd		3,579
	34,372		CA, Inc		865
	32,589		Cablevision Systems Corp (Class A)		488
	227,639		Cabot Oil & Gas Corp		15,391
	97,000	*,e	CACI International, Inc (Class A)		5,613
	71,912	*	Calpine Corp		1,481
	8,803		Camden Property Trust		605
	89,815	*	Cameron International Corp		5,856
	19,945		Campbell Soup Co		905
	171,378		Capital One Financial Corp		9,417
	94,689		Cardinal Health, Inc		3,941
	540,085	*	CareFusion Corp		18,898
	25,400		Carlisle Cos, Inc		1,722
	193,928	*	Carmax, Inc		8,087
	927,579		Carnival Corp		31,816

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	243,900	*	Catamaran Corp	$	12,934
	58,482	*	Catamaran Corp (Toronto)		3,099
	165,140		Caterpillar, Inc		14,362
	75,550	*	CBRE Group, Inc		1,908
	306,835		CBS Corp (Class B)		14,326
	16,629		Celanese Corp (Series A)		733
	377,498	*	Celgene Corp		43,756
	1,858,377		Centerpoint Energy, Inc		44,527
	188,872		CenturyTel, Inc		6,635
	29,916	*	Cerner Corp		2,835
	84,240		CF Industries Holdings, Inc		16,037
	33,474		CH Robinson Worldwide, Inc		1,990
	153,573		Charles Schwab Corp		2,717
	4,318	*	Charter Communications, Inc		450
	204,700	*	Cheniere Energy, Inc		5,732
	70,122	e	Chesapeake Energy Corp		1,431
	1,315,153		Chevron Corp		156,266
	100,200		Chicago Bridge & Iron Co NV		6,222
	10,709	*	Chipotle Mexican Grill, Inc (Class A)		3,490
	37,441		Chubb Corp		3,277
	349,655		Church & Dwight Co, Inc		22,598
	581,700	*	Ciena Corp		9,313
	180,242		Cigna Corp		11,242
	8,860		Cimarex Energy Co		668
	35,491		Cincinnati Financial Corp		1,675
	11,073		Cintas Corp		489
	4,798,833		Cisco Systems, Inc		100,344
	109,956	*	CIT Group, Inc		4,781
	2,209,470		Citigroup, Inc		97,747
	19,624	*	Citrix Systems, Inc		1,416
	179,140	e	Cleveland-Cliffs, Inc		3,405
	20,833		Clorox Co		1,844
	43,564		CME Group, Inc		2,674
	110,226		CMS Energy Corp		3,080
	83,124		Coach, Inc		4,155
	46,039	*	Cobalt International Energy, Inc		1,298
	2,153,722		Coca-Cola Co		87,096
	135,533		Coca-Cola Enterprises, Inc		5,004
	31,336	*	Cognizant Technology Solutions Corp (Class A)		2,401
	161,347		Colgate-Palmolive Co		19,044
	2,148,752		Comcast Corp (Class A)		90,269
	88,490		Comcast Corp (Special Class A)		3,506
	154,877		Comerica, Inc		5,568
	134,352		Computer Sciences Corp		6,614
	75,642		ConAgra Foods, Inc		2,709
	173,134	*	Concho Resources, Inc		16,868
	779,849		ConocoPhillips		46,869
	23,682		Consol Energy, Inc		797
	31,906		Consolidated Edison, Inc		1,947
	16,457	*	Constellation Brands, Inc (Class A)		784
	26,381	*	Continental Resources, Inc		2,293
	931		Con-Way, Inc		33

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	105,808		Core Laboratories NV	$	14,593
	192,539		Corning, Inc		2,567
	351,289		Costco Wholesale Corp		37,275
	24,373		Coventry Health Care, Inc		1,146
	145,323		Covidien plc		9,859
	999		Crane Co		56
	11,612	*,e	Cree, Inc		635
	283,545	*	Crown Castle International Corp		19,746
	22,295	*	Crown Holdings, Inc		928
	995,300		CSX Corp		24,514
	126,908		Cummins, Inc		14,697
	333,861		CVS Corp		18,359
	250,585		Cytec Industries, Inc		18,563
	120,905		Danaher Corp		7,514
	13,487		Darden Restaurants, Inc		697
	25,459	*	DaVita, Inc		3,019
	776,900	*	Dean Foods Co		14,085
	56,199		Deere & Co		4,832
	241,508		Dell, Inc		3,461
	431,055	*	Delta Air Lines, Inc		7,117
	590,734	*	Denbury Resources, Inc		11,017
	37,226		Dentsply International, Inc		1,579
	68,516	*	Devon Energy Corp		3,866
	41,423	e	Diamond Offshore Drilling, Inc		2,881
	52,776		Dick’s Sporting Goods, Inc		2,496
	12,574		Digital Realty Trust, Inc		841
	97,385		Dillard’s, Inc (Class A)		7,650
	198,564	*	DIRECTV		11,241
	301,522		Discover Financial Services		13,520
	82,802	*	Discovery Communications, Inc (Class A)		6,520
	22,272	*	Discovery Communications, Inc (Class C)		1,549
	136,574		DISH Network Corp (Class A)		5,176
	4,293	e	Dolby Laboratories, Inc (Class A)		144
	38,257	*	Dollar General Corp		1,935
	24,048	*	Dollar Tree, Inc		1,165
	117,333		Dominion Resources, Inc		6,826
	18,380		Domtar Corp		1,427
	318,566		Dover Corp		23,217
	1,072,099		Dow Chemical Co		34,136
	64,966		DR Horton, Inc		1,579
	55,848		Dr Pepper Snapple Group, Inc		2,622
	29,100		DST Systems, Inc		2,074
	77,257		DTE Energy Co		5,280
	177,028		Du Pont (E.I.) de Nemours & Co		8,703
	702,394		Duke Energy Corp		50,987
	74,233		Duke Realty Corp		1,260
	4,813	e	Dun & Bradstreet Corp		403
	128,999		East West Bancorp, Inc		3,311
	62,363		Eastman Chemical Co		4,357
	358,036		Eaton Corp		21,930
	24,179		Eaton Vance Corp		1,011
	1,045,456	*	eBay, Inc		56,685

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	317,151		Ecolab, Inc	$	25,429
	148,343		Edison International		7,465
	64,978	*	Edwards Lifesciences Corp		5,339
	62,636	*	Electronic Arts, Inc		1,109
	195,778		Eli Lilly & Co		11,118
	563,543	*	EMC Corp		13,463
	123,280		Emerson Electric Co		6,888
	7,702		Energen Corp		401
	12,805		Energizer Holdings, Inc		1,277
	1,134		Energy Transfer Partners LP		57
	1,784	*	Engility Holdings, Inc		43
	32,013		Entergy Corp		2,025
	226,008		EOG Resources, Inc		28,945
	67,925		Equifax, Inc		3,912
	16,636	*	Equinix, Inc		3,599
	22,008		Equitable Resources, Inc		1,491
	52,731		Equity Residential		2,903
	24,794		Estee Lauder Cos (Class A)		1,588
	23,513		Everest Re Group Ltd		3,053
	178,339		Exelon Corp		6,149
	183,735		Expedia, Inc		11,026
	22,050		Expeditors International of Washington, Inc		787
	193,181	*	Express Scripts Holding Co		11,137
	2,273,945	d	Exxon Mobil Corp		204,905
	102,531	*	F5 Networks, Inc		9,133
	256,568	*	Facebook, Inc		6,563
	19,869		Family Dollar Stores, Inc		1,173
	34,496		Fastenal Co		1,771
	26,374		Federal Realty Investment Trust		2,849
	190,000	e	Federated Investors, Inc (Class B)		4,497
	143,684		FedEx Corp		14,110
	60,238		Fidelity National Information Services, Inc		2,387
	115,062		Fidelity National Title Group, Inc (Class A)		2,903
	393,812		Fifth Third Bancorp		6,423
	150,000	*	First American Corp		3,879
	10,135		First Republic Bank		391
	154,202		FirstEnergy Corp		6,507
	55,769	*	Fiserv, Inc		4,898
	50,000	*	FleetCor Technologies, Inc		3,834
	15,949		Flir Systems, Inc		415
	23,703		Flowserve Corp		3,975
	38,359		Fluor Corp		2,544
	52,152		FMC Corp		2,974
	107,183	*	FMC Technologies, Inc		5,830
	200,000		Foot Locker, Inc		6,848
	1,763,042		Ford Motor Co		23,184
	95,815	*	Forest Laboratories, Inc		3,645
	131,200	*	Fortune Brands Home & Security, Inc		4,911
	25,304	*	Fossil, Inc		2,444
	45,151		Franklin Resources, Inc		6,809
	277,266		Freeport-McMoRan Copper & Gold, Inc (Class B)		9,178
	132,869	e	Frontier Communications Corp		529

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	297,344	e	GameStop Corp (Class A)	$	8,317
	160,000		Gannett Co, Inc		3,499
	358,551		Gap, Inc		12,693
	12,290	*,e	Garmin Ltd		406
	44,321		General Dynamics Corp		3,125
	6,068,529		General Electric Co		140,304
	44,777		General Growth Properties, Inc		890
	552,682		General Mills, Inc		27,253
	61,921,000	*,e,m,n	General Motors Co		0	^
	530,757	*,m	General Motors Co		0	^
	69,850,000	*,m,n	General Motors Co		0	^
	161,350	*	General Motors Co		4,489
	26,439,985	*,m,n	General Motors Co		0	^
	29,845,445	*,m,n	General Motors Co		0	^
	13,592,224	*,m,n	General Motors Co		0	^
	18,106,794	*,e,m,n	General Motors Co		0	^
	19,417,463	*,m,n	General Motors Co		0	^
	4,461,000	*,m,n	General Motors Co		0	^
	18,159,000	*,m,n	General Motors Co		0	^
	32,751		Genuine Parts Co		2,555
	9,439	*	Genworth Financial, Inc (Class A)		94
	1,290,855	*	Gilead Sciences, Inc		63,161
	120,000		Global Payments, Inc		5,959
	130,900		GNC Holdings, Inc		5,142
	324,064		Goldman Sachs Group, Inc		47,686
	153,858	*	Goodyear Tire & Rubber Co		1,940
	149,048	*	Google, Inc (Class A)		118,349
	500,000	*	Graphic Packaging Holding Co		3,745
	73,191	*,e	Green Mountain Coffee Roasters, Inc		4,154
	375,000	*,e	Groupon, Inc		2,295
	28,115		H&R Block, Inc		827
	1		H.B. Fuller Co		0	^
	33,444		H.J. Heinz Co		2,417
	857,915		Halliburton Co		34,668
	110,000	*	Hanesbrands, Inc		5,012
	47,378		Harley-Davidson, Inc		2,525
	12,118		Harris Corp		562
	106,345		Hartford Financial Services Group, Inc		2,744
	18,461	e	Hasbro, Inc		811
	213,448		HCA Holdings, Inc		8,672
	64,341		HCP, Inc		3,208
	44,469		Health Care REIT, Inc		3,020
	2,198	*	Health Net, Inc		63
	27,509		Helmerich & Payne, Inc		1,670
	19,665	*	Henry Schein, Inc		1,820
	62,408	e	Herbalife Ltd		2,337
	53,043		Hershey Co		4,643
	885,209	*	Hertz Global Holdings, Inc		19,705
	114,398		Hess Corp		8,192
	1,477,921		Hewlett-Packard Co		35,234
	166,000		Hillshire Brands Co		5,835
	115,003		Holly Corp		5,917
	45,422	*	Hologic, Inc		1,027

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,147,109		Home Depot, Inc	$	80,045
	989,703		Honeywell International, Inc		74,574
	15,043		Hormel Foods Corp		622
	27,888	*	Hospira, Inc		916
	103,552		Host Marriott Corp		1,811
	599	*,e	Hovnanian Enterprises, Inc (Class A)		3
	82,745		Hudson City Bancorp, Inc		715
	90,793		Humana, Inc		6,275
	2,363,300		Huntington Bancshares, Inc		17,465
	321,379		Huntsman Corp		5,974
	152,900		IAC/InterActiveCorp		6,832
	8,519	*	IHS, Inc (Class A)		892
	91,025		Illinois Tool Works, Inc		5,547
	65,317	*,e	Illumina, Inc		3,527
	298,890		Ingersoll-Rand plc		16,442
	92,000		Ingredion, Inc		6,653
	8,008		Integrys Energy Group, Inc		466
	1,711,616		Intel Corp		37,399
	8,686	*,e	IntercontinentalExchange, Inc		1,416
	653,044		International Business Machines Corp		139,294
	8,656		International Flavors & Fragrances, Inc		664
	42,936		International Game Technology		708
	86,689		International Paper Co		4,038
	159,820		Interpublic Group of Cos, Inc		2,082
	331,684		Intuit, Inc		21,775
	12,303	*	Intuitive Surgical, Inc		6,043
	113,414		Invesco Ltd		3,284
	15,188		Iron Mountain, Inc		551
	1,421,746	e	iShares MSCI Canada Index Fund		40,534
	2,126,735		iShares MSCI EAFE Index Fund		125,435
	81,300	*,e	ITT Educational Services, Inc		1,120
	20,896		J.B. Hunt Transport Services, Inc		1,556
	23,352		J.M. Smucker Co		2,316
	252,730	*	Jacobs Engineering Group, Inc		14,214
	732,564	*	Jarden Corp		31,390
	16,182	e	JC Penney Co, Inc		245
	275,000	*	JDS Uniphase Corp		3,677
	1,475,361		Johnson & Johnson		120,286
	99,979		Johnson Controls, Inc		3,506
	185,945		Joy Global, Inc		11,067
	2,052,287		JPMorgan Chase & Co		97,402
	89,357	*	Juniper Networks, Inc		1,657
	51,311		Kansas City Southern Industries, Inc		5,690
	1,399	e	KB Home		30
	121,333		KBR, Inc		3,892
	36,582		Kellogg Co		2,357
	50,000		Kennametal, Inc		1,952
	193,042		Keycorp		1,923
	96,409		Kimberly-Clark Corp		9,446
	101,963		Kimco Realty Corp		2,284
	10,605	*	Kinder Morgan Management LLC		932
	80,967		Kinder Morgan, Inc		3,132

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	22,398		Kla-Tencor Corp	$	1,181
	150,000	*	Kodiak Oil & Gas Corp		1,364
	23,446		Kohl’s Corp		1,082
	112,311		Kraft Foods Group, Inc		5,787
	1,019,562		Kroger Co		33,788
	108,591		L Brands, Inc		4,850
	20,495		L-3 Communications Holdings, Inc		1,658
	11,846	*	Laboratory Corp of America Holdings		1,069
	43,730	*	Lam Research Corp		1,813
	501,774		Las Vegas Sands Corp		28,275
	1,039	*,e	Leap Wireless International, Inc		6
	75,000		Lear Corp		4,115
	11,978	e	Legg Mason, Inc		385
	30,064		Leggett & Platt, Inc		1,016
	129,700		Lender Processing Services, Inc		3,302
	18,908	e	Lennar Corp (Class A)		784
	21,762		Leucadia National Corp		597
	15,218	*	Level 3 Communications, Inc		309
	65,551	*,e	Liberty Global, Inc (Class A)		4,811
	6,397	*,e	Liberty Global, Inc (Series C)		439
	22,082	*	Liberty Media Corp		2,465
	108,141	*	Liberty Media Holding Corp (Interactive A)		2,312
	16,815		Liberty Property Trust		668
	47,849	*	Life Technologies Corp		3,092
	110,824		Lincoln National Corp		3,614
	87,245		Linear Technology Corp		3,348
	34,000	*	LinkedIn Corp		5,986
	200,000	*,e	Lions Gate Entertainment Corp		4,754
	130,609	*	LKQ Corp		2,842
	62,822		Lockheed Martin Corp		6,064
	42,762		Loews Corp		1,885
	96,752		Lorillard, Inc		3,904
	428,759		Lowe’s Companies, Inc		16,259
	57,111	*	LSI Logic Corp		387
	298,545		LyondellBasell Industries AF S.C.A		18,895
	11,908	e	M&T Bank Corp		1,228
	32,640		Macerich Co		2,101
	203,814		Macy’s, Inc		8,528
	1	*	Madison Square Garden, Inc		0	^
	8,318		Manpower, Inc		472
	410,179		Marathon Oil Corp		13,831
	127,334		Marathon Petroleum Corp		11,409
	26,950		Marriott International, Inc (Class A)		1,138
	324,693		Marsh & McLennan Cos, Inc		12,329
	5,651	e	Martin Marietta Materials, Inc		577
	117,568		Marvell Technology Group Ltd		1,244
	43,180		Masco Corp		874
	78,021		Mastercard, Inc (Class A)		42,220
	70,628		Mattel, Inc		3,093
	151,100		Max Capital Group Ltd		4,760
	666,229		Maxim Integrated Products, Inc		21,752
	25,105		McCormick & Co, Inc		1,846

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	4,517	*	McDermott International, Inc	$	50
	329,129		McDonald’s Corp		32,811
	36,576		McGraw-Hill Cos, Inc		1,905
	423,675		McKesson Corp		45,740
	679		MDC Holdings, Inc		25
	18,979		MDU Resources Group, Inc		474
	107,521		Mead Johnson Nutrition Co		8,328
	35,368		MeadWestvaco Corp		1,284
	35,000	*	Medivation, Inc		1,637
	287,590		Medtronic, Inc		13,505
	1,629,632		Merck & Co, Inc		72,079
	870,281		Metlife, Inc		33,088
	71,332	*	MetroPCS Communications, Inc		778
	37,187	*	MGM Mirage		489
	23,800	*	Michael Kors Holdings Ltd		1,352
	19,738	e	Microchip Technology, Inc		726
	206,759	*	Micron Technology, Inc		2,063
	3,445,354		Microsoft Corp		98,572
	26,421	*	Mohawk Industries, Inc		2,989
	15,492		Molson Coors Brewing Co (Class B)		758
	521,916		Mondelez International, Inc		15,976
	507,245		Monsanto Co		53,580
	134,913	*	Monster Beverage Corp		6,441
	21,290		Moody’s Corp		1,135
	553,647		Morgan Stanley		12,169
	61,949		Mosaic Co		3,693
	63,195		Motorola, Inc		4,046
	315,000	*	MRC Global, Inc		10,373
	72,282		Murphy Oil Corp		4,607
	487,041	*	Mylan Laboratories, Inc		14,095
	172,155		Nabors Industries Ltd		2,792
	13,515		Nasdaq Stock Market, Inc		437
	122,743		National Oilwell Varco, Inc		8,684
	1,239	*,e	Navistar International Corp		43
	212,765	*	NetApp, Inc		7,268
	11,577	*	NetFlix, Inc		2,193
	100,000	*	NeuStar, Inc (Class A)		4,653
	59,840	e	New York Community Bancorp, Inc		859
	230,161		Newell Rubbermaid, Inc		6,007
	12,483	*	Newfield Exploration Co		280
	61,053		Newmont Mining Corp		2,558
	191,920		News Corp (Class A)		5,857
	46,037		News Corp (Class B)		1,416
	128,021		NextEra Energy, Inc		9,945
	28,943		Nielsen Holdings NV		1,037
	568,052		Nike, Inc (Class B)		33,521
	126,367		NiSource, Inc		3,708
	38,940		Noble Corp		1,486
	67,242		Noble Energy, Inc		7,777
	33,669		Nordstrom, Inc		1,860
	56,995		Norfolk Southern Corp		4,393
	100,507		Northeast Utilities		4,368

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	77,623		Northern Trust Corp	$	4,235
	48,206		Northrop Grumman Corp		3,382
	50,732		NRG Energy, Inc		1,344
	25,982	*,e	Nuance Communications, Inc		524
	96,041		Nucor Corp		4,432
	190,000		NV Energy, Inc		3,806
	64,913		Nvidia Corp		832
	8,742	*	NVR, Inc		9,442
	25,313		NYSE Euronext		978
	331,574		Occidental Petroleum Corp		25,985
	44,355		Oceaneering International, Inc		2,946
	43,437		OGE Energy Corp		3,040
	12,881		Omnicare, Inc		525
	70,745		Omnicom Group, Inc		4,167
	300,000	*	ON Semiconductor Corp		2,484
	39,033		Oneok, Inc		1,861
	3,201,540		Oracle Corp		103,538
	3,103		Oracle Corp Japan		140
	38,395	*	O’Reilly Automotive, Inc		3,937
	441,043	*	Orient-Express Hotels Ltd (Class A)		4,349
	130,000	*	Oshkosh Truck Corp		5,524
	32,621	*	Owens Corning, Inc		1,286
	36,931	*	Owens-Illinois, Inc		984
	53,016		Paccar, Inc		2,680
	19,832		Pall Corp		1,356
	13,125	*	Panera Bread Co (Class A)		2,169
	147,183		Parker Hannifin Corp		13,479
	142,008		PartnerRe Ltd		13,222
	15,543		Patterson Cos, Inc		591
	40,261		Paychex, Inc		1,412
	54,531		Peabody Energy Corp		1,153
	634,000	*	Penn National Gaming, Inc		34,509
	361,366		Pentair Ltd		19,062
	53,043		People’s United Financial, Inc		713
	33,305		Pepco Holdings, Inc		713
	775,751		PepsiCo, Inc		61,370
	106,226		Perrigo Co		12,612
	150,712		Petsmart, Inc		9,359
	5,722,285		Pfizer, Inc		165,145
	51,689		PG&E Corp		2,302
	1,171,935		Philip Morris International, Inc		108,650
	476,168		Phillips 66		33,317
	87,628		Phillips-Van Heusen Corp		9,360
	66,804		Pinnacle West Capital Corp		3,867
	38,331		Pioneer Natural Resources Co		4,763
	32,044	e	Pitney Bowes, Inc		476
	13,132	*	Plains Exploration & Production Co		623
	25,172		Plum Creek Timber Co, Inc		1,314
	55,124		PNC Financial Services Group, Inc		3,666
	30,913		Polaris Industries, Inc		2,859
	106,351		PPG Industries, Inc		14,245
	119,576		PPL Corp		3,744

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	80,695		Praxair, Inc	$	9,001
	94,563		Precision Castparts Corp		17,931
	16,141	*	Priceline.com, Inc		11,104
	62,147		Principal Financial Group		2,115
	80,000		ProAssurance Corp		3,786
	1,301,325		Procter & Gamble Co		100,280
	59,809		Progressive Corp		1,511
	58,590		Prologis, Inc		2,342
	555,813		Prudential Financial, Inc		32,787
	74,574		Public Service Enterprise Group, Inc		2,561
	50,356		Public Storage, Inc		7,670
	545,357	*	Pulte Homes, Inc		11,038
	1,167,440		Qualcomm, Inc		78,160
	22,433	*	Quanta Services, Inc		641
	19,669		Quest Diagnostics, Inc		1,110
	26,763		Questar Market Resources, Inc		852
	42,000	e	Questcor Pharmaceuticals, Inc		1,367
	11,336	*	Rackspace Hosting, Inc		572
	7,521		Ralph Lauren Corp		1,273
	27,550		Range Resources Corp		2,233
	88,000		Raymond James Financial, Inc		4,057
	25,130		Rayonier, Inc		1,500
	143,229		Raytheon Co		8,420
	364,811	*	Realogy Holdings Corp		17,817
	18,100		Realty Income Corp		821
	54,554	*	Red Hat, Inc		2,758
	250,000	e	Regal Entertainment Group (Class A)		4,168
	12,725		Regency Centers Corp		673
	7,947	*	Regeneron Pharmaceuticals, Inc		1,402
	1,015,594		Regions Financial Corp		8,318
	32,671		RenaissanceRe Holdings Ltd		3,005
	54,492		Republic Services, Inc		1,798
	15,006	e	Resmed, Inc		696
	111,107		Reynolds American, Inc		4,943
	11,501	*	Rite Aid Corp		22
	314,638		Robert Half International, Inc		11,808
	7,444		Rock-Tenn Co (Class A)		691
	29,728		Rockwell Automation, Inc		2,567
	27,940		Rockwell Collins, Inc		1,764
	105,430		Roper Industries, Inc		13,422
	46,252		Ross Stores, Inc		2,804
	220,000	*	Rovi Corp		4,710
	18,787	*	Rowan Cos plc		664
	118,109		Royal Caribbean Cruises Ltd		3,924
	185,713	e	Safeway, Inc		4,894
	57,226	e	SAIC, Inc		775
	31,954	*	Salesforce.com, Inc		5,714
	330,328	*	SanDisk Corp		18,168
	2,818,100		Sands China Ltd		14,664
	77,059	*	SBA Communications Corp (Class A)		5,550
	31,222		SCANA Corp		1,597
	749,097		Schlumberger Ltd		56,100

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	40,630		Scripps Networks Interactive (Class A)	$	2,614
	174,808		Seagate Technology, Inc		6,391
	548,688		Sealed Air Corp		13,229
	3,846	*,e	Sears Holdings Corp		192
	29,896		SEI Investments Co		863
	349,180		Sempra Energy		27,913
	11,914	*	Sensata Technologies Holding BV		392
	400,000		Service Corp International		6,692
	60,500		Sherwin-Williams Co		10,218
	12,440		Sigma-Aldrich Corp		966
	276,325		Simon Property Group, Inc		43,814
	355,443		Sirius XM Radio, Inc		1,095
	11,001		SL Green Realty Corp		947
	71,413		SLM Corp		1,463
	38,762		Sotheby’s (Class A)		1,450
	336,949		Southern Co		15,810
	19,137		Southwest Airlines Co		258
	60,509	*	Southwestern Energy Co		2,255
	660,692		SPDR Trust Series 1		103,431
	858,690		Spectra Energy Corp		26,405
	50,000	*	Splunk, Inc		2,002
	773,973	*	Sprint Nextel Corp		4,806
	5,333		SPX Corp		421
	52,269		St. Jude Medical, Inc		2,114
	24,702		Stanley Works		2,000
	177,086		Staples, Inc		2,378
	361,947		Starbucks Corp		20,617
	77,182		Starwood Hotels & Resorts Worldwide, Inc		4,919
	898,373		State Street Corp		53,085
	78,888	*	Stericycle, Inc		8,376
	58,217		Stryker Corp		3,798
	253,202		SunTrust Banks, Inc		7,295
	33,808	*	Superior Energy Services		878
	1,213,504	*	Symantec Corp		29,949
	30,042	*	Synopsys, Inc		1,078
	222,157		Synovus Financial Corp		615
	60,351		Sysco Corp		2,123
	28,247		T Rowe Price Group, Inc		2,115
	711,937		Target Corp		48,732
	1,079		Taubman Centers, Inc		84
	234,415		TCF Financial Corp		3,507
	47,322		TD Ameritrade Holding Corp		976
	2,315	*	Tenet Healthcare Corp		110
	22,636	*	Teradata Corp		1,324
	125,400	*,e	Teradyne, Inc		2,034
	36,200	*,e	Tesla Motors, Inc		1,372
	25,400		Tesoro Corp		1,487
	226,093		Texas Instruments, Inc		8,022
	83,737		Textron, Inc		2,496
	301,308		Thermo Electron Corp		23,047
	15,853		Tiffany & Co		1,102
	113,346		Time Warner Cable, Inc		10,888

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	865,764		Time Warner, Inc	$	49,885
	106,233		Timken Co		6,011
	293,865		TJX Companies, Inc		13,738
	34,381	*	Toll Brothers, Inc		1,177
	374,126		TonenGeneral Sekiyu KK		3,710
	48,948		Torchmark Corp		2,927
	94,069		Total System Services, Inc		2,331
	44,707		Tractor Supply Co		4,655
	20,476		TransDigm Group, Inc		3,131
	19,355	*	Transocean Ltd		1,000
	70,000	*	Transocean Ltd-NYSE		3,637
	59,221		Travelers Cos, Inc		4,986
	229,527	*	TRI Pointe Homes, Inc		4,625
	62,500	*	Tribune Co		3,553
	52,214	*	Trimble Navigation Ltd		1,564
	1,778	*	TripAdvisor, Inc		93
	135,000		Triumph Group, Inc		10,598
	22,709	*	TRW Automotive Holdings Corp		1,249
	91,701	*	Tumi Holdings, Inc		1,920
	75,211		Tupperware Corp		6,148
	956,464		Tyco International Ltd		30,607
	61,712		Tyson Foods, Inc (Class A)		1,532
	17,508	*	UAL Corp		560
	27,071		UDR, Inc		655
	6,187		Ulta Salon Cosmetics & Fragrance, Inc		502
	23,590	*,e	Ultra Petroleum Corp		474
	7,968	*,e	Under Armour, Inc (Class A)		408
	288,332		Union Pacific Corp		41,061
	297,392		United Parcel Service, Inc (Class B)		25,546
	13,416	e	United States Steel Corp		262
	472,503		United Technologies Corp		44,146
	803,910		UnitedHealth Group, Inc		45,992
	170,290		Universal Health Services, Inc (Class B)		10,876
	37,263		UnumProvident Corp		1,053
	13,162	*	Urban Outfitters, Inc		510
	1,650,519		US Bancorp		56,002
	262,646		Valero Energy Corp		11,948
	60,000		Valspar Corp		3,735
	80,000	*	Valueclick, Inc		2,364
	14,227	*	Varian Medical Systems, Inc		1,024
	85,211		Ventas, Inc		6,237
	9,521	*	VeriFone Systems, Inc		197
	16,544		VeriSign, Inc		782
	424,649	*	Verisk Analytics, Inc		26,171
	1,835,150		Verizon Communications, Inc		90,198
	43,589	*	Vertex Pharmaceuticals, Inc		2,397
	46,307		VF Corp		7,768
	697,067		Viacom, Inc (Class B)		42,918
	262,986		Visa, Inc (Class A)		44,666
	200,000	*	Vishay Intertechnology, Inc		2,722
	75,431	*	VMware, Inc (Class A)		5,950
	24,707		Vornado Realty Trust		2,066

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	18,302		Vulcan Materials Co	$	946
	57,272		W.R. Berkley Corp		2,541
	13,303		W.W. Grainger, Inc		2,993
	153,446		Walgreen Co		7,316
	634,113		Wal-Mart Stores, Inc		47,451
	1,073,680		Walt Disney Co		60,985
	73,800		Walter Energy, Inc		2,103
	440,874		Warner Chilcott plc		5,974
	45,912		Waste Management, Inc		1,800
	9,297	*	Waters Corp		873
	111,544	*	Weatherford International Ltd		1,354
	27,899	*	WellCare Health Plans, Inc		1,617
	216,242		WellPoint, Inc		14,322
	3,637,548		Wells Fargo & Co		134,553
	127,277		Western Digital Corp		6,399
	101,275		Western Union Co		1,523
	50,000	e	Westlake Chemical Corp		4,675
	201,083		Weyerhaeuser Co		6,310
	65,293		Whirlpool Corp		7,735
	12,263	*	Whiting Petroleum Corp		623
	70,490		Whole Foods Market, Inc		6,115
	248,440		Williams Cos, Inc		9,307
	18,473	e	Willis Group Holdings plc		729
	62,734	e	Windstream Corp		499
	94,548		Wisconsin Energy Corp		4,055
	3,710	*	WPX Energy, Inc		59
	54,869		Wyndham Worldwide Corp		3,538
	12,958		Wynn Resorts Ltd		1,622
	143,922		Xcel Energy, Inc		4,274
	313,779		Xerox Corp		2,699
	27,360		Xilinx, Inc		1,044
	27,628		Xylem, Inc		761
	1,185,076	*	Yahoo!, Inc		27,885
	281,507		Yum! Brands, Inc		20,252
	252,249		Zimmer Holdings, Inc		18,974
	460,051	*	Zoetis Inc		15,366
			TOTAL UNITED STATES		8,640,919
			TOTAL COMMON STOCKS		16,135,833
			(Cost $13,780,023)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	681,005	m	GPT Group		0	^
			TOTAL AUSTRALIA		0	^
MALAYSIA - 0.0%
	51,780		IJM Land BHD - CW13		19
			TOTAL MALAYSIA		19
SINGAPORE - 0.0%
	16,710		Olam International Ltd		6
			TOTAL SINGAPORE		6

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY		RATES		MATURITY DATE	VALUE (000)
SPAIN - 0.0%
	44,624	m	CaixaBank					$	3
			TOTAL SPAIN						3
UNITED STATES - 0.0%
	21,280		Kinder Morgan, Inc						109
			TOTAL UNITED STATES						109
			TOTAL RIGHTS / WARRANTS						137
			(Cost $56)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 5.3%
TREASURY DEBT - 1.0%
$	3,500,000	d	United States Cash Management Bill		0.105	%	04/15/13		3,500
	700,000		United States Treasury Bill		0.081		04/04/13		700
	25,200,000	d	United States Treasury Bill	0.089-0.095			04/11/13		25,199
	4,000,000		United States Treasury Bill		0.108		04/18/13		4,000
	5,300,000	d	United States Treasury Bill	0.080-0.090			05/02/13		5,300
	9,500,000		United States Treasury Bill		0.075		05/30/13		9,499
	14,200,000	d	United States Treasury Bill		0.090		06/06/13		14,199
	5,000,000		United States Treasury Bill		0.085		06/13/13		4,999
	45,000,000	d	United States Treasury Bill		0.060		06/27/13		44,992
	8,800,000		United States Treasury Bill		0.065		07/05/13		8,798
	17,500,000		United States Treasury Bill	0.075-0.090			07/18/13		17,496
	25,700,000		United States Treasury Bill		0.075		07/25/13		25,694
	7,000,000		United States Treasury Bill		0.090		08/22/13		6,998
			TOTAL TREASURY DEBT						171,374
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 4.3%
REPURCHASE AGREEMENT - 4.0%
	140,000,000	o	Barclays Capital		0.015		04/01/13		140,000
	130,000,000	p	Calyon		0.015		04/01/13		130,000
	129,000,000	q	Citigroup		0.015		04/01/13		129,000
	80,000,000	r	Deutsche Bank		0.015		04/01/13		80,000
	25,000,000	s	Merrill Lynch		0.015		04/01/13		25,000
	110,000,000	t	RBC		0.017		04/01/13		110,000
	36,000,000	u	Societe Generale		0.015		04/01/13		36,000
			TOTAL REPURCHASE AGREEMENT						650,000
VARIABLE RATE SECURITIES - 0.3%
	2,201,237	i	Granite Master Issuer plc 2006		0.403		12/20/50		2,157
	1,886,775	i	Granite Master Issuer plc 2007		0.403		12/20/50		1,849
	1,116,310	i	Medallion Trust 2005		0.329		08/22/36		1,106
	975,648	i	Nelnet Student Loan Trust 2007		0.534		09/25/18		976
	1,941,060	i	Puma Finance Ltd		0.429		02/21/38		1,901
	30,000,000	i	SLM Student Loan Trust 2007		0.341		01/25/19		29,740

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,493,322	i	SLM Student Loan Trust 2008	0.651	%	10/25/16	$	4,498
			TOTAL VARIABLE RATE SECURITIES					42,227
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED					692,227
			TOTAL SHORT-TERM INVESTMENTS					863,601
			(Cost $863,800)
			TOTAL INVESTMENTS - 104.0%					16,999,571
			(Cost $14,643,879)
			OTHER ASSETS & LIABILITIES, NET - (4.0)%					(649,847	)
			NET ASSETS - 100.0%				$	16,349,724
			Abbreviation(s):
	ADR		American Depositary Receipt
	GDR		Global Depository Receipt
	NVDR		Non Voting Depository Receipt
	REIT		Real Estate Investment Trust
	SPDR		Standard & Poor’s Depository Receipts
	*		Non-income producing.
	^		Amount represents less than $1,000.
	d		All or a portion of these securities have been segregated to cover margin or other requirements on open futures transactions.
	e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $660,322,000.
	m		Indicates a security that has been deemed illiquid.
	n		In default
	o		Agreement with Barclays Capital, 0.15% dated 03/31/13 to be repurchased at $140,001,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $142,800,000.
	p		Agreement with Calyon, 0.15% dated 03/31/13 to be repurchased at $130,001,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $132,600,000.
	q		Agreement with Citigroup, 0.15% dated 03/31/13 to be repurchased at $129,001,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $131,580,000.
	r		Agreement with Deutsche Bank, 0.15% dated 03/31/13 to be repurchased at $80,000,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $81,600,000.
	s		Agreement with Merrill Lynch, 0.15% dated 03/31/13 to be repurchased at $25,000,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $25,504,000.
	t		Agreement with RBC, 0.17% dated 03/31/13 to be repurchased at $110,001,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $112,200,000.
	u		Agreement with Societe Generale, 0.15% dated 03/31/13 to be repurchased at $36,000,000 on 04/01/13, collateralized by U.S. Government Agency Securities valued at $36,723,000.
			Cost amounts are in thousands.

228

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

March 31, 2013

SECTOR	VALUE (000)			% OF NET ASSETS
FINANCIALS	$	3,492,899			21.4	%
CONSUMER DISCRETIONARY		2,234,127			13.7
INFORMATION TECHNOLOGY		2,049,404			12.5
INDUSTRIALS		1,834,821			11.2
HEALTH CARE		1,815,561			11.1
CONSUMER STAPLES		1,462,538			9.0
ENERGY		1,306,158			8.0
MATERIALS		1,129,554			6.9
TELECOMMUNICATION SERVICES		413,959			2.5
UTILITIES		396,949			2.4
SHORT - TERM INVESTMENTS		863,601			5.3
OTHER ASSETS & LIABILITIES, NET		(649,847	)		(4.0	)
NET ASSETS	$	16,349,724			100.0	%

229

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND

GROWTH ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2013

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.1%
AUTOMOBILES & COMPONENTS - 1.0%
	11,103	e	Allison Transmission Holdings, Inc	$	266
	62,382	*	BorgWarner, Inc		4,825
	1,868,790		Delphi Automotive plc		82,974
	824,659	*	General Motors Co		22,942
	78,303		Gentex Corp		1,567
	133,525	*	Goodyear Tire & Rubber Co		1,684
	126,567		Harley-Davidson, Inc		6,746
	688,018	*,e	Tesla Motors, Inc		26,069
	160,490	*	Visteon Corp		9,260
			TOTAL AUTOMOBILES & COMPONENTS		156,333
BANKS - 0.2%
	435,900		Fifth Third Bancorp		7,109
	1,606,300		Huntington Bancshares, Inc		11,871
	245,500	*,e	Nationstar Mortgage Holdings, Inc		9,059
	40,613		People’s United Financial, Inc		546
	4,939	*	Signature Bank		389
	372,800		US Bancorp		12,649
			TOTAL BANKS		41,623
CAPITAL GOODS - 8.6%
	339,381		3M Co		36,080
	171,500	*	Aecom Technology Corp		5,625
	178,043		Ametek, Inc		7,720
	10,539		Armstrong World Industries, Inc		589
	64,336		Babcock & Wilcox Co		1,828
	53,969	*	BE Aerospace, Inc		3,254
	1,415,575		Boeing Co		121,527
	3,346		Carlisle Cos, Inc		227
	773,690		Caterpillar, Inc		67,288
	722,866		Chicago Bridge & Iron Co NV		44,890
	169,600		CNH Global NV		7,008
	3,672	*	Colfax Corp		171
	645,382		Cummins, Inc		74,742
	148,403		Danaher Corp		9,223
	415,215		Deere & Co		35,700
	81,549		Donaldson Co, Inc		2,951
	47,244		Eaton Corp		2,894
	459,432		Emerson Electric Co		25,668
	160,978		Fastenal Co		8,266
	131,291		Flowserve Corp		22,019
	352,815		Fluor Corp		23,402
	527,464	*	Fortune Brands Home & Security, Inc		19,743
	1,419	*	General Cable Corp		52

230

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	848,270		General Electric Co	$	19,612
	33,638		Graco, Inc		1,952
	1,184,089		Honeywell International, Inc		89,221
	120,957		Hubbell, Inc (Class B)		11,746
	9,469		IDEX Corp		506
	287,818		Illinois Tool Works, Inc		17,540
	661,532		Ingersoll-Rand plc		36,391
	12,851		ITT Corp		365
	343,092		Joy Global, Inc		20,421
	226,800		KBR, Inc		7,276
	278,600		Kennametal, Inc		10,876
	27,795		Lennox International, Inc		1,765
	287,823		Lincoln Electric Holdings, Inc		15,594
	290,103		Lockheed Martin Corp		28,001
	51,871		Manitowoc Co, Inc		1,066
	560,528		Masco Corp		11,351
	5,490	*	MRC Global, Inc		181
	140,471		MSC Industrial Direct Co (Class A)		12,050
	119,002		Nordson Corp		7,848
	45,071		Paccar, Inc		2,279
	255,423		Pall Corp		17,463
	363,334		Parker Hannifin Corp		33,274
	25,406	*,e	Polypore International, Inc		1,021
	752,619		Precision Castparts Corp		142,712
	246,998		Rockwell Automation, Inc		21,328
	75,163		Rockwell Collins, Inc		4,744
	622,523		Roper Industries, Inc		79,253
	78,816		Snap-On, Inc		6,518
	10,701	*	Spirit Aerosystems Holdings, Inc (Class A)		203
	8,049		SPX Corp		636
	217,000	*	Terex Corp		7,469
	525,229		Textron, Inc		15,657
	257,844		Timken Co		14,589
	31,211		Toro Co		1,437
	27,453		TransDigm Group, Inc		4,198
	83,269		Triumph Group, Inc		6,537
	51,319	*,e	United Rentals, Inc		2,821
	594,230		United Technologies Corp		55,519
	122,033		Valmont Industries, Inc		19,192
	572,921		W.W. Grainger, Inc		128,896
	105,711	*	WABCO Holdings, Inc		7,462
	25,926		Westinghouse Air Brake Technologies Corp		2,647
	11,947		Xylem, Inc		329
			TOTAL CAPITAL GOODS		1,390,813
COMMERCIAL & PROFESSIONAL SERVICES - 1.7%
	467,200		ADT Corp		22,865
	167,300		Avery Dennison Corp		7,205
	26,414		Cintas Corp		1,166
	28,698	*	Clean Harbors, Inc		1,667
	226,825	*	Copart, Inc		7,775
	744	e	Covanta Holding Corp		15

231

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	16,246	e	Dun & Bradstreet Corp	$	1,359
	145,777		Edenred		4,777
	202,465		Equifax, Inc		11,660
	26,785	*	IHS, Inc (Class A)		2,805
	84,025		Iron Mountain, Inc		3,051
	1,236,593		Nielsen Holdings NV		44,295
	54,894	e	Pitney Bowes, Inc		816
	78,841		Robert Half International, Inc		2,959
	34,933		Rollins, Inc		857
	380,469	*	Stericycle, Inc		40,398
	92,900		Towers Watson & Co		6,440
	234,876	*	Tribune Co		13,353
	256,000		Tyco International Ltd		8,192
	1,384,862	*	Verisk Analytics, Inc		85,349
	4,103		Waste Connections, Inc		148
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		267,152
CONSUMER DURABLES & APPAREL - 3.0%
	25,030	*	Carter’s, Inc		1,433
	619,473		Coach, Inc		30,967
	11,578	*,e	Deckers Outdoor Corp		645
	11,867		DR Horton, Inc		288
	377,106	*	Fossil, Inc		36,428
	4,586	*,e	Garmin Ltd		152
	593,873	*	Hanesbrands, Inc		27,057
	56,229	e	Hasbro, Inc		2,471
	827,167	*	Jarden Corp		35,444
	1,295,406		Luxottica Group S.p.A.		65,042
	50,000		LVMH Moet Hennessy Louis Vuitton S.A.		8,591
	207,322		Mattel, Inc		9,079
	46,844	*	Michael Kors Holdings Ltd		2,660
	1,540,373		Nike, Inc (Class B)		90,897
	28,997	*	NVR, Inc		31,320
	215,780		Phillips-Van Heusen Corp		23,047
	35,256		Polaris Industries, Inc		3,261
	1,260,200	*	Pulte Homes, Inc		25,506
	313,155		Ralph Lauren Corp		53,020
	31,826	*	Tempur-Pedic International, Inc		1,580
	137,502	*	TRI Pointe Homes, Inc.		2,771
	214,162		Tupperware Corp		17,506
	40,394	*,e	Under Armour, Inc (Class A)		2,068
	65,735		VF Corp		11,027
	68,800		Whirlpool Corp		8,150
			TOTAL CONSUMER DURABLES & APPAREL		490,410
CONSUMER SERVICES - 3.0%
	47,268	*,e	Apollo Group, Inc (Class A)		822
	21,230	*	Bally Technologies, Inc		1,103
	36,526		Brinker International, Inc		1,375
	17,255	*	Chipotle Mexican Grill, Inc (Class A)		5,623
	1,329	e	Choice Hotels International, Inc		56
	70,234		Darden Restaurants, Inc		3,630

232

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	38,538		Dunkin Brands Group, Inc	$	1,421
	92,949		H&R Block, Inc		2,735
	623,935	*	Hyatt Hotels Corp		26,973
	82,660		International Game Technology		1,364
	282,756		Interval Leisure Group, Inc		6,147
	8,736	*,e	ITT Educational Services, Inc		120
	1,805,303		Las Vegas Sands Corp		101,729
	121,056		Marriott International, Inc (Class A)		5,112
	863,100		McDonald’s Corp		86,042
	7,400	*	Norwegian Cruise Line Holdings Ltd		219
	79,651	*	Panera Bread Co (Class A)		13,162
	321,918	*	Penn National Gaming, Inc		17,522
	113,102		Six Flags Entertainment Corp		8,198
	1,682,111		Starbucks Corp		95,813
	213,950		Starwood Hotels & Resorts Worldwide, Inc		13,635
	141,128	e	Weight Watchers International, Inc		5,943
	335,138		Wyndham Worldwide Corp		21,610
	43,004		Wynn Resorts Ltd		5,382
	775,492		Yum! Brands, Inc		55,789
			TOTAL CONSUMER SERVICES		481,525
DIVERSIFIED FINANCIALS - 3.8%
	329,141	*	Affiliated Managers Group, Inc		50,546
	785,277		American Express Co		52,975
	609,987		Ameriprise Financial, Inc		44,926
	220,939		BlackRock, Inc		56,755
	1,947,066		Blackstone Group LP		38,513
	41,865		CBOE Holdings, Inc		1,546
	608,600		Citigroup, Inc		26,924
	278,600		Discover Financial Services		12,492
	63,096		Eaton Vance Corp		2,639
	42,223	e	Federated Investors, Inc (Class B)		999
	112,766		Franklin Resources, Inc		17,006
	309,537	*,e	IntercontinentalExchange, Inc		50,476
	2,300,000	e	iShares Russell 1000 Growth Index Fund		164,036
	141,300		JPMorgan Chase & Co		6,706
	64,065		Lazard Ltd (Class A)		2,187
	27,440		Leucadia National Corp		753
	25,598		LPL Financial Holdings, Inc		825
	806,041		Moody’s Corp		42,978
	66,417	*	MSCI, Inc (Class A)		2,254
	163,900		Raymond James Financial, Inc		7,556
	220,693		SEI Investments Co		6,367
	120,100		State Street Corp		7,097
	138,749		T Rowe Price Group, Inc		10,388
	47,527		Waddell & Reed Financial, Inc (Class A)		2,080
			TOTAL DIVERSIFIED FINANCIALS		609,024
ENERGY - 3.2%
	55,000		Anadarko Petroleum Corp		4,810
	7,611	*	Atwood Oceanics, Inc		400
	269,328		Cabot Oil & Gas Corp		18,209

233

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	203,170	*	Cameron International Corp	$	13,247
	9,989	e	CARBO Ceramics, Inc		910
	71,780	*	Cheniere Energy, Inc		2,010
	94,147	*	Cobalt International Energy, Inc		2,655
	277,084	*	Concho Resources, Inc		26,996
	23,076	*	Continental Resources, Inc		2,006
	288,073	e	Crescent Point Energy Corp		10,875
	854,909	*	Denbury Resources, Inc		15,944
	42,114	*	Dresser-Rand Group, Inc		2,597
	582,976		EOG Resources, Inc		74,662
	4,657	*	Era Group, Inc		98
	474,346	*	FMC Technologies, Inc		25,800
	22,690	e	Golar LNG Ltd		839
	219,616		Halliburton Co		8,875
	203,278		Helmerich & Payne, Inc		12,339
	265,244		Kinder Morgan, Inc		10,260
	32,470	*	Kosmos Energy LLC		367
	7,344	*	Laredo Petroleum Holdings, Inc		134
	137,000		Murphy Oil Corp		8,731
	53,167		National Oilwell Varco, Inc		3,761
	21,320		Noble Energy, Inc		2,466
	88,740		Occidental Petroleum Corp		6,954
	219,012		Oceaneering International, Inc		14,545
	26,129	*	Oil States International, Inc		2,131
	135,700		Phillips 66		9,495
	81,236		Pioneer Natural Resources Co		10,093
	121,526		Range Resources Corp		9,848
	163,194	e	RPC, Inc		2,476
	2,091,207		Schlumberger Ltd		156,611
	4,657		SEACOR Holdings, Inc		343
	68,043	*	Southwestern Energy Co		2,535
	353,445		Spectra Energy Corp		10,868
	27,913		St. Mary Land & Exploration Co		1,653
	245,704		Suncor Energy, Inc (NY)		7,374
	155,000		Tesoro Corp		9,075
	304,439		Valero Energy Corp		13,849
	8,925	*	Whiting Petroleum Corp		454
	370,430		Williams Cos, Inc		13,876
	13,476		World Fuel Services Corp		535
			TOTAL ENERGY		521,706
FOOD & STAPLES RETAILING - 2.2%
	836,540		Costco Wholesale Corp		88,765
	632,274		CVS Corp		34,769
	14,801	*	Fresh Market, Inc		633
	1,596,019		Kroger Co		52,892
	395,500	e	Safeway, Inc		10,421
	168,600		Sysco Corp		5,930
	1,784,787		Wal-Mart Stores, Inc		133,556
	265,268		Whole Foods Market, Inc		23,012
			TOTAL FOOD & STAPLES RETAILING		349,978

234

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
FOOD, BEVERAGE & TOBACCO - 6.0%
	1,892,878		Altria Group, Inc	$	65,096
	274,600		Archer Daniels Midland Co		9,262
	182,931		Brown-Forman Corp (Class B)		13,061
	75,115	e	Campbell Soup Co		3,407
	5,236,213		Coca-Cola Co		211,752
	518,747		Coca-Cola Enterprises, Inc		19,152
	396,822		ConAgra Foods, Inc		14,210
	989,074	*	Dean Foods Co		17,932
	115,299		Dr Pepper Snapple Group, Inc		5,413
	61,817		Flowers Foods, Inc		2,036
	275,264		General Mills, Inc		13,573
	436,486	*,e	Green Mountain Coffee Roasters, Inc		24,775
	108,155		H.J. Heinz Co		7,816
	111,841		Hershey Co		9,790
	332,565		Hillshire Brands Co		11,690
	266,634		Hormel Foods Corp		11,017
	227,865		Ingredion, Inc		16,479
	317,422		Kellogg Co		20,452
	316,364		Kraft Foods Group, Inc		16,302
	606,503		Lorillard, Inc		24,472
	71,024		McCormick & Co, Inc		5,224
	151,536		Mead Johnson Nutrition Co		11,737
	51,273		Mondelez International, Inc		1,570
	463,167	*	Monster Beverage Corp		22,112
	2,047,703		PepsiCo, Inc		161,994
	2,566,615		Philip Morris International, Inc		237,951
	61,139		Reynolds American, Inc		2,720
	5,658	*,e	WhiteWave Foods Co		97
			TOTAL FOOD, BEVERAGE & TOBACCO		961,092
HEALTH CARE EQUIPMENT & SERVICES - 4.2%
	2,111,090		Abbott Laboratories		74,564
	297,500		Aetna, Inc		15,208
	666,286		AmerisourceBergen Corp		34,280
	45,737		Bard (C.R.), Inc		4,609
	809,570		Baxter International, Inc		58,807
	140,748		Becton Dickinson & Co		13,457
	354,571		Cardinal Health, Inc		14,757
	211,700	*	CareFusion Corp		7,407
	606,047	*	Catamaran Corp		32,139
	624,389	*	Cerner Corp		59,161
	117,700		Cigna Corp		7,341
	7,251		Cooper Cos, Inc		782
	110,270		Covidien plc		7,481
	50,485	*	DaVita, Inc		5,987
	35,221		Dentsply International, Inc		1,494
	386,864	*	Edwards Lifesciences Corp		31,785
	814,448	*	Express Scripts Holding Co		46,953
	311,295		HCA Holdings, Inc		12,648
	607,900	*	Health Management Associates, Inc (Class A)		7,824
	26,792	*	Henry Schein, Inc		2,480

235

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	210,632	*	Idexx Laboratories, Inc	$	19,460
	145,770	*	Intuitive Surgical, Inc		71,601
	52,578	*	Laboratory Corp of America Holdings		4,743
	627,534		McKesson Corp		67,749
	35,481		Medtronic, Inc		1,666
	48,449		Patterson Cos, Inc		1,843
	9,755		Quest Diagnostics, Inc		551
	437,215	e	Resmed, Inc		20,269
	6,008	*	Sirona Dental Systems, Inc		443
	167,927		St. Jude Medical, Inc		6,791
	170,348		Stryker Corp		11,114
	2,354	*	Tenet Healthcare Corp		112
	32,064	*	Thoratec Corp		1,202
	3,258		Universal Health Services, Inc (Class B)		208
	216,877	*	Varian Medical Systems, Inc		15,615
	177,866		WellPoint, Inc		11,780
	10,362		Zimmer Holdings, Inc		779
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		675,090
HOUSEHOLD & PERSONAL PRODUCTS - 1.3%
	185,004		Avon Products, Inc		3,835
	387,938		Beiersdorf AG.		35,855
	261,692		Church & Dwight Co, Inc		16,913
	3,316		Clorox Co		294
	478,130		Colgate-Palmolive Co		56,434
	679,263		Estee Lauder Cos (Class A)		43,493
	175,519	e	Herbalife Ltd		6,573
	260,861		Kimberly-Clark Corp		25,559
	77,093		L’Oreal S.A.		12,231
	28,763	e	Nu Skin Enterprises, Inc (Class A)		1,272
	148,304		Procter & Gamble Co		11,428
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		213,887
INSURANCE - 0.7%
	279,539		ACE Ltd		24,871
	9,778		Allied World Assurance Co Holdings Ltd		907
	186,700		Allstate Corp		9,161
	14,921		Aon plc		918
	8,962	*	Arch Capital Group Ltd		471
	65,217		Arthur J. Gallagher & Co		2,694
	195,000		Assurant, Inc		8,777
	261,300		Axis Capital Holdings Ltd		10,875
	118,800	*	Berkshire Hathaway, Inc (Class B)		12,379
	6,089		Brown & Brown, Inc		195
	14,450		Erie Indemnity Co (Class A)		1,091
	11,991		Hanover Insurance Group, Inc		596
	445,399		Marsh & McLennan Cos, Inc		16,912
	117,700		PartnerRe Ltd		10,959
	186,895		Travelers Cos, Inc		15,735
	5,816		Validus Holdings Ltd		217
			TOTAL INSURANCE		116,758

236

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
MATERIALS - 4.2%
	37,846		Airgas, Inc	$	3,753
	28,038		Albemarle Corp		1,753
	46,029	*	Allied Nevada Gold Corp		758
	13,129		Aptargroup, Inc		753
	289,580		Ashland, Inc		21,516
	352,131		Axiall Corp		21,888
	86,070		Ball Corp		4,095
	1,994		Carpenter Technology Corp		98
	346,604		Celanese Corp (Series A)		15,268
	175,639		CF Industries Holdings, Inc		33,436
	17,926		Compass Minerals International, Inc		1,414
	20,756	*	Crown Holdings, Inc		864
	697,299		Du Pont (E.I.) de Nemours & Co		34,279
	271,870		Eastman Chemical Co		18,996
	467,295		Ecolab, Inc		37,468
	75,010		FMC Corp		4,278
	831,000		Huntsman Corp		15,448
	43,892		International Flavors & Fragrances, Inc		3,365
	288,600		International Paper Co		13,443
	13,578		Intrepid Potash, Inc		255
	231,050		LyondellBasell Industries AF S.C.A		14,623
	12,330	e	Martin Marietta Materials, Inc		1,258
	1,311	*,e	Molycorp, Inc		7
	1,830,094		Monsanto Co		193,313
	17,712	e	NewMarket Corp		4,611
	397,440	*	Owens-Illinois, Inc		10,592
	48,551		Packaging Corp of America		2,178
	367,207		PPG Industries, Inc		49,184
	234,316		Praxair, Inc		26,136
	77,141		Rock-Tenn Co (Class A)		7,158
	12,030		Rockwood Holdings, Inc		787
	34,513		Royal Gold, Inc		2,451
	26,882		RPM International, Inc		849
	21,299		Scotts Miracle-Gro Co (Class A)		921
	309,296		Sherwin-Williams Co		52,237
	65,709		Sigma-Aldrich Corp		5,104
	24,804		Silgan Holdings, Inc		1,172
	708,146		Southern Copper Corp (NY)		26,605
	258,822		Steel Dynamics, Inc		4,107
	10,610	*	Tahoe Resources, Inc		187
	240,158		Valspar Corp		14,950
	86,743	e	Westlake Chemical Corp		8,110
	186,874	*	WR Grace & Co		14,486
			TOTAL MATERIALS		674,154
MEDIA - 4.9%
	31,405	*	AMC Networks, Inc		1,984
	15,562		Cablevision Systems Corp (Class A)		233
	1,666,925		CBS Corp (Class B)		77,829
	26,387	*	Charter Communications, Inc		2,749
	61,052		Cinemark Holdings, Inc		1,797

237

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	5,580,587		Comcast Corp (Class A)	$	234,440
	1,173,042	*	DIRECTV		66,406
	796,387	*	Discovery Communications, Inc (Class A)		62,707
	62,941	*	Discovery Communications, Inc (Class C)		4,377
	447,840		DISH Network Corp (Class A)		16,973
	584,260		Interpublic Group of Cos, Inc		7,613
	11,216		John Wiley & Sons, Inc (Class A)		437
	37,087	*	Lamar Advertising Co (Class A)		1,803
	196,834	*,e	Liberty Global, Inc (Class A)		14,448
	3,156	*	Liberty Media Corp		352
	209,044		McGraw-Hill Cos, Inc		10,887
	12,495		Morningstar, Inc		874
	538,402		News Corp (Class A)		16,432
	401,321		Omnicom Group, Inc		23,638
	50,465	*,e	Pandora Media, Inc		714
	860,573	e	Regal Entertainment Group (Class A)		14,346
	46,560		Scripps Networks Interactive (Class A)		2,996
	4,716,495	e	Sirius XM Radio, Inc		14,527
	390,956	*	Starz-Liberty Capital		8,660
	284,219		Time Warner Cable, Inc		27,302
	217,900		Time Warner, Inc		12,555
	777,134		Viacom, Inc (Class B)		47,848
	150,195	e	Virgin Media, Inc		7,355
	1,764,059		Walt Disney Co		100,199
			TOTAL MEDIA		782,481
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 9.7%
	1,503,066		AbbVie, Inc		61,295
	460,054	*	Actavis, Inc		42,376
	599,859		Agilent Technologies, Inc		25,176
	793,321	*	Alexion Pharmaceuticals, Inc		73,097
	1,324,278		Allergan, Inc		147,829
	1,150,151		Amgen, Inc		117,902
	96,856	*	Ariad Pharmaceuticals, Inc		1,752
	1,171,466	*	Biogen Idec, Inc		225,988
	66,415	*	BioMarin Pharmaceuticals, Inc		4,135
	1,282,533		Bristol-Myers Squibb Co		52,828
	48,992	*	Bruker BioSciences Corp		936
	1,699,452	*	Celgene Corp		196,984
	18,134	*	Charles River Laboratories International, Inc		803
	181,277	*	Covance, Inc		13,472
	407,549		Eli Lilly & Co		23,145
	39,601	*	Endo Pharmaceuticals Holdings, Inc		1,218
	4,851,211	*	Gilead Sciences, Inc		237,370
	515,574	*,e	Illumina, Inc		27,841
	52,901	*,e	Incyte Corp		1,238
	448,136		Johnson & Johnson		36,537
	8,975	*	Life Technologies Corp		580
	39,714	*	Medivation, Inc		1,857
	17,108	*	Mettler-Toledo International, Inc		3,648
	1,130,251	*	Mylan Laboratories, Inc		32,709
	44,901	*	Myriad Genetics, Inc		1,140

238

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	56,551		Novo Nordisk AS (Class B)	$	9,115
	119,614	*	Onyx Pharmaceuticals, Inc		10,629
	814,271		Perrigo Co		96,678
	706,181		Pfizer, Inc		20,380
	41,748	*	Regeneron Pharmaceuticals, Inc		7,364
	32,093	*	Salix Pharmaceuticals Ltd		1,643
	20,355		Techne Corp		1,381
	144,400		Teva Pharmaceutical Industries Ltd (ADR)		5,730
	140,303	*	United Therapeutics Corp		8,540
	235,822	*	Vertex Pharmaceuticals, Inc		12,965
	900,218		Warner Chilcott plc		12,198
	66,586	*	Waters Corp		6,253
	988,313	*	Zoetis Inc		33,010
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,557,742
REAL ESTATE - 1.8%
	4,385		American Campus Communities, Inc		199
	1,129,308		American Tower Corp		86,866
	55,734		Apartment Investment & Management Co (Class A)		1,709
	109,839		Boston Properties, Inc		11,100
	12,762		BRE Properties, Inc (Class A)		621
	35,540		Camden Property Trust		2,441
	179,187	*	CBRE Group, Inc		4,524
	69,869		Digital Realty Trust, Inc		4,675
	18,853		Equity Lifestyle Properties, Inc		1,448
	12,207		Equity Residential		672
	19,341		Essex Property Trust, Inc		2,912
	277,842		Extra Space Storage, Inc		10,911
	26,924		Federal Realty Investment Trust		2,909
	17,208		HCP, Inc		858
	15,235		Home Properties, Inc		966
	68,100		Jones Lang LaSalle, Inc		6,770
	3,111		Kilroy Realty Corp		163
	19,961		Mid-America Apartment Communities, Inc		1,379
	88,835		Plum Creek Timber Co, Inc		4,637
	13,040		Post Properties, Inc		614
	77,151		Public Storage, Inc		11,752
	51,297		Rayonier, Inc		3,061
	652,661	*	Realogy Holdings Corp		31,876
	30,136		Regency Centers Corp		1,595
	524,236		Simon Property Group, Inc		83,123
	49,071		Tanger Factory Outlet Centers, Inc		1,775
	9,667		Taubman Centers, Inc		751
	307,842		Weyerhaeuser Co		9,660
			TOTAL REAL ESTATE		289,967
RETAILING - 6.5%
	31,838		Aaron’s, Inc		913
	40,132		Advance Auto Parts, Inc		3,317
	1,095,322	*	Amazon.com, Inc		291,892
	778,777		American Eagle Outfitters, Inc		14,563
	68,346	*	Ascena Retail Group, Inc		1,268

239

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	10,368	*	Autonation, Inc	$	454
	19,676	*	Autozone, Inc		7,807
	126,304	*	Bed Bath & Beyond, Inc		8,137
	31,593	*	Big Lots, Inc		1,114
	1,082,321	*	Carmax, Inc		45,133
	455,897		Chico’s FAS, Inc		7,659
	240,342	*,e	Ctrip.com International Ltd (ADR)		5,139
	50,555		Dick’s Sporting Goods, Inc		2,391
	137,494	*	Dollar General Corp		6,955
	173,307	*	Dollar Tree, Inc		8,393
	16,923		DSW, Inc (Class A)		1,080
	873,865		Expedia, Inc		52,441
	51,874		Family Dollar Stores, Inc		3,063
	537,879		Foot Locker, Inc		18,417
	1,095,630		Gap, Inc		38,785
	85,796		Genuine Parts Co		6,692
	279,519		GNC Holdings, Inc		10,980
	1,979,796	*,e	Groupon, Inc		12,116
	3,545,923		Home Depot, Inc		247,435
	16,855	*,e	HomeAway, Inc		548
	7,807		Kohl’s Corp		360
	533,124		L Brands, Inc		23,809
	46,819	*	Liberty Media Holding Corp (Interactive A)		1,001
	3,484	*	Liberty Ventures		263
	160,163	*	LKQ Corp		3,485
	79,754		Lowe’s Companies, Inc		3,024
	385,991		Macy’s, Inc		16,150
	30,196	*	NetFlix, Inc		5,719
	81,724		Nordstrom, Inc		4,514
	60,590	*	O’Reilly Automotive, Inc		6,214
	517,216		Petsmart, Inc		32,119
	30,920	*	Priceline.com, Inc		21,271
	123,709		Ross Stores, Inc		7,499
	78,499	*	Sally Beauty Holdings, Inc		2,306
	119,300		Signet Jewelers Ltd		7,993
	508,961		Staples, Inc		6,835
	288,646		Target Corp		19,758
	57,683		Tiffany & Co		4,011
	1,699,644		TJX Companies, Inc		79,458
	38,937		Tractor Supply Co		4,055
	46,048	*	TripAdvisor, Inc		2,418
	34,523		Ulta Salon Cosmetics & Fragrance, Inc		2,802
	58,595	*	Urban Outfitters, Inc		2,270
	26,895		Williams-Sonoma, Inc		1,386
			TOTAL RETAILING		1,055,412
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.7%
	316,160	*,e	Advanced Micro Devices, Inc		806
	174,660		Altera Corp		6,195
	12,932		Analog Devices, Inc		601
	13,491	*	Atmel Corp		94
	385,048		Avago Technologies Ltd		13,831

240

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,986,943		Broadcom Corp (Class A)	$	68,887
	47,469	e	Cypress Semiconductor Corp		524
	410,301	*,e	Freescale Semiconductor Holdings Ltd		6,109
	2,687,943		Intel Corp		58,732
	377,372	*	Lam Research Corp		15,646
	304,173		Linear Technology Corp		11,671
	1,385,909	*	LSI Logic Corp		9,396
	699,300		Marvell Technology Group Ltd		7,399
	1,216,511		Maxim Integrated Products, Inc		39,719
	104,918		Microchip Technology, Inc		3,857
	532,834		Nvidia Corp		6,831
	21,713	*	Silicon Laboratories, Inc		898
	90,188	*	Skyworks Solutions, Inc		1,987
	13,177	*	Teradyne, Inc		214
	420,203		Texas Instruments, Inc		14,909
	301,479		Xilinx, Inc		11,507
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		279,813
SOFTWARE & SERVICES - 18.9%
	1,119,560		Accenture plc		85,053
	2,512,948	*	Adobe Systems, Inc		109,339
	89,395	*	Akamai Technologies, Inc		3,155
	254,921	*,e	Alliance Data Systems Corp		41,269
	356,691		Amdocs Ltd		12,930
	50,659	*	Ansys, Inc		4,125
	313,403		AOL, Inc		12,063
	208,156	*	Autodesk, Inc		8,584
	350,325		Automatic Data Processing, Inc		22,778
	77,806	*	BMC Software, Inc		3,605
	69,823		Broadridge Financial Solutions, Inc		1,734
	11,891		CA, Inc		299
	147,841	*	Cadence Design Systems, Inc		2,059
	102,092	*	Citrix Systems, Inc		7,367
	226,960	*	Cognizant Technology Solutions Corp (Class A)		17,387
	6,679	*	Compuware Corp		84
	23,886	*,e	Concur Technologies, Inc		1,640
	54,711		DST Systems, Inc		3,899
	4,349,582	*	eBay, Inc		235,834
	26,288	*	Equinix, Inc		5,686
	1,296,127	*	Facebook, Inc		33,155
	24,056	e	Factset Research Systems, Inc		2,228
	136,900	*	First American Corp		3,540
	61,098	*	Fiserv, Inc		5,366
	25,398	*	FleetCor Technologies, Inc		1,947
	73,041	*	Fortinet, Inc		1,730
	50,604	*	Gartner, Inc		2,753
	56,433		Genpact Ltd		1,027
	338,975		Global Payments, Inc		16,834
	558,222	*	Google, Inc (Class A)		443,245
	368,754		IAC/InterActiveCorp		16,476
	58,332	*	Informatica Corp		2,011
	1,512,818		International Business Machines Corp		322,684

241

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	2,860,430		Intuit, Inc	$	187,787
	46,781		Jack Henry & Associates, Inc		2,162
	47,594		Lender Processing Services, Inc		1,212
	257,597	*	LinkedIn Corp		45,353
	357,273		Mastercard, Inc (Class A)		193,331
	45,033	*	Micros Systems, Inc		2,049
	10,710,717		Microsoft Corp		306,434
	17,224	*	NetSuite, Inc		1,379
	392,134	*	NeuStar, Inc (Class A)		18,246
	1,202,030	*,e	Nuance Communications, Inc		24,257
	8,383,282		Oracle Corp		271,115
	164,839		Paychex, Inc		5,781
	60,057	*	Rackspace Hosting, Inc		3,032
	1,259,862	*	Red Hat, Inc		63,699
	11,061	*	Rovi Corp		237
	53,593		SAIC, Inc		726
	380,771	*	Salesforce.com, Inc		68,093
	6,385	*,e	ServiceNow, Inc		231
	226,446	*	Sina Corp		11,003
	130,515	*	SolarWinds, Inc		7,713
	37,350		Solera Holdings, Inc		2,179
	9,123	*	Splunk, Inc		365
	520,972	*	Symantec Corp		12,858
	6,129	*	Synopsys, Inc		220
	91,219	*	Teradata Corp		5,337
	92,277	*	TIBCO Software, Inc		1,866
	77,793		Total System Services, Inc		1,928
	194,300	*	Valueclick, Inc		5,742
	23,252	*	Vantiv, Inc		552
	56,256	*	VeriFone Systems, Inc		1,163
	397,335		VeriSign, Inc		18,786
	1,501,173		Visa, Inc (Class A)		254,959
	282,756	*,e	VistaPrint Ltd		10,931
	223,468	*	VMware, Inc (Class A)		17,627
	312,863		Western Union Co		4,705
	10,992	*	Workday, Inc		677
	2,871,497	*	Yahoo!, Inc		67,566
	48,413	*,e	Zynga, Inc		163
			TOTAL SOFTWARE & SERVICES		3,053,350
TECHNOLOGY HARDWARE & EQUIPMENT - 8.6%
	32,324	*	Acme Packet, Inc		944
	120,304		Amphenol Corp (Class A)		8,981
	1,775,007	d	Apple, Inc		785,672
	1,237,500	*	Brocade Communications Systems, Inc		7,140
	1,763,069		Cisco Systems, Inc		36,866
	17,173	e	Dolby Laboratories, Inc (Class A)		576
	6,144	*	EchoStar Corp (Class A)		239
	4,625,036	*	EMC Corp		110,492
	540,556	*	F5 Networks, Inc		48,153
	68,341		Flir Systems, Inc		1,778
	35,894	*,e	Fusion-io, Inc		588

242

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	18,421		Harris Corp	$	854
	593,400		Hewlett-Packard Co		14,147
	17,463	e	IPG Photonics Corp		1,160
	19,622		Jabil Circuit, Inc		363
	507,085	*	JDS Uniphase Corp		6,780
	316,729	*	Juniper Networks, Inc		5,872
	149,985		Motorola, Inc		9,603
	49,289		National Instruments Corp		1,614
	86,150	*	NCR Corp		2,374
	695,593	*	NetApp, Inc		23,761
	3,072	*	Palo Alto Networks, Inc		174
	4,396,013		Qualcomm, Inc		294,313
	88,612	*	Riverbed Technology, Inc		1,321
	6,466	*,e	Stratasys Ltd		480
	187,758	*	Trimble Navigation Ltd		5,625
	309,699		Western Digital Corp		15,572
	4,633	*	Zebra Technologies Corp (Class A)		218
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,385,660
TELECOMMUNICATION SERVICES - 1.1%
	159,198	*	Crown Castle International Corp		11,086
	44,204	*	Level 3 Communications, Inc		897
	392,904	*	SBA Communications Corp (Class A)		28,297
	85,297	*	tw telecom inc (Class A)		2,149
	2,623,130		Verizon Communications, Inc		128,927
	196,429	e	Windstream Corp		1,561
			TOTAL TELECOMMUNICATION SERVICES		172,917
TRANSPORTATION - 2.7%
	22,800		Amerco, Inc		3,957
	74,300	e	Canadian Pacific Railway Ltd (Toronto)		9,694
	226,497		CH Robinson Worldwide, Inc		13,468
	15,573		Con-Way, Inc		548
	78,837		Copa Holdings S.A. (Class A)		9,430
	526,563		CSX Corp		12,969
	293,491	*	Delta Air Lines, Inc		4,846
	270,638		Expeditors International of Washington, Inc		9,664
	509,584		FedEx Corp		50,041
	3,536,930	*	Hertz Global Holdings, Inc		78,732
	48,600		J.B. Hunt Transport Services, Inc		3,620
	544,305		Kansas City Southern Industries, Inc		60,363
	124,498	*	Kirby Corp		9,561
	97,542		Landstar System, Inc		5,569
	97,746		Ryder System, Inc		5,840
	72,225		Southwest Airlines Co		974
	180,629	*	UAL Corp		5,782
	609,823		Union Pacific Corp		86,845
	663,891		United Parcel Service, Inc (Class B)		57,028
			TOTAL TRANSPORTATION		428,931
UTILITIES - 0.1%
	9,317		Aqua America, Inc		293

243

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	RATE	MATURITY DATE	VALUE (000)
	27,292		ITC Holdings Corp			$	2,436
	113,950		Oneok, Inc				5,432
	138,100	*	ProShares VIX Short-Term Futures ETF				1,507
	20,110		Questar Corp				489
			TOTAL UTILITIES				10,157
			TOTAL COMMON STOCKS				15,965,975
			(Cost $12,883,552)

PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 3.0%
TREASURY DEBT - 0.5%
$	900,000	d	United States Treasury Bill	0.089	%	04/11/13	900
	3,600,000	d	United States Treasury Bill	0.093		04/18/13	3,600
	2,000,000	d	United States Treasury Bill	0.090		06/06/13	2,000
	8,100,000	d	United States Treasury Bill	0.090		06/27/13	8,099
	16,600,000	d	United States Treasury Bill	0.065		07/05/13	16,597
	3,700,000	d	United States Treasury Bill	0.090		07/18/13	3,699
	7,100,000		United States Treasury Bill	0.075		07/25/13	7,098
	20,000,000	d	United States Treasury Bill	0.091		09/05/13	19,992
	21,500,000	d	United States Treasury Bill	0.098		09/12/13	21,491
			TOTAL TREASURY DEBT				83,476

SHARES			COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.5%
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.5%
			TIAA-CREF Short Term Lending Portfolio of the State Street
	401,608,463	a,c	Navigator Securities Lending Trust		401,608
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		401,608
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		401,608
			TOTAL SHORT-TERM INVESTMENTS		485,084
			(Cost $485,083)
			TOTAL INVESTMENTS - 102.1%		16,451,059
			(Cost $13,368,635)
			OTHER ASSETS & LIABILITIES, NET - (2.1)%		(345,558	)
			NET ASSETS - 100.0%	$	16,105,501

	Abbreviation(s):
ADR	American Depositary Receipt
ETF	Exchange Traded Fund
*	Non-income producing.
a	Affiliated holding.
c	Investments made with cash collateral received from securites on loan.
d	All or a portion of these securities have been segregated to cover margin or other requirements on open futures transactions.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $393,793,000.
	Cost amounts are in thousands.

244

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND
EQUITY INDEX ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2013

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.6%
AUTOMOBILES & COMPONENTS - 1.0%
	19,682	e	Allison Transmission Holdings, Inc	$	473
	51,119	*	American Axle & Manufacturing Holdings, Inc		698
	87,437	*	BorgWarner, Inc		6,762
	45,804		Cooper Tire & Rubber Co		1,175
	110,265		Dana Holding Corp		1,966
	250,536		Delphi Automotive plc		11,124
	18,492		Dorman Products, Inc		688
	16,941		Drew Industries, Inc		615
	58,919	*	Exide Technologies		159
	13,635	*	Federal Mogul Corp (Class A)		82
	2,862,677		Ford Motor Co		37,644
	13,714	*	Fuel Systems Solutions, Inc		226
	584,196	*	General Motors Co		16,252
	109,188		Gentex Corp		2,185
	27,497	*	Gentherm, Inc		450
	184,702	*	Goodyear Tire & Rubber Co		2,329
	174,909		Harley-Davidson, Inc		9,323
	516,314		Johnson Controls, Inc		18,107
	76,870		Lear Corp		4,218
	36,302	*	Modine Manufacturing Co		330
	4,154		Shiloh Industries, Inc		45
	30,024		Spartan Motors, Inc		160
	16,669		Standard Motor Products, Inc		462
	20,247	*	Stoneridge, Inc		155
	17,815		Superior Industries International, Inc		333
	46,120	*	Tenneco, Inc		1,813
	53,732	*,e	Tesla Motors, Inc		2,036
	33,978		Thor Industries, Inc		1,250
	5,700	*	Tower International, Inc		80
	77,181	*	TRW Automotive Holdings Corp		4,245
	40,138	*	Visteon Corp		2,316
	24,826	*	Winnebago Industries, Inc		512
			TOTAL AUTOMOBILES & COMPONENTS		128,213
BANKS - 3.3%
	11,459		1st Source Corp		272
	17,104		1st United Bancorp, Inc		111
	5,520		Access National Corp		91
	5,882		American National Bankshares, Inc		127
	18,171	*	Ameris Bancorp		261
	4,648		Ames National Corp		97
	18,000		Apollo Residential Mortgage		401
	7,061	e	Arrow Financial Corp		174
	130,985		Associated Banc-Corp		1,990

245

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	66,701		Astoria Financial Corp	$	658
	5,016		Bancfirst Corp		209
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		531
	73,283	e	Bancorpsouth, Inc		1,195
	41,404		Bank Mutual Corp		229
	36,626		Bank of Hawaii Corp		1,861
	4,416		Bank of Kentucky Financial Corp		121
	3,864		Bank of Marin Bancorp		155
	22,826		Bank of the Ozarks, Inc		1,012
	17,629		BankFinancial Corp		143
	25,535		BankUnited		654
	12,480		Banner Corp		397
	3,044		Bar Harbor Bankshares		111
	532,298		BB&T Corp		16,709
	57,116		BBCN Bancorp, Inc		746
	23,421	*	Beneficial Mutual Bancorp, Inc		241
	16,854		Berkshire Hills Bancorp, Inc		430
	8,499	*	BofI Holding, Inc		305
	21,205		BOK Financial Corp		1,321
	59,217		Boston Private Financial Holdings, Inc		585
	4,741		Bridge Bancorp, Inc		102
	7,190	*	Bridge Capital Holdings		110
	54,590		Brookline Bancorp, Inc		499
	8,337		Bryn Mawr Bank Corp		194
	6,191	*	BSB Bancorp, Inc		86
	2,500		C&F Financial Corp		102
	5,527		Camden National Corp		183
	8,819		Cape Bancorp, Inc		81
	9,158	*,e	Capital City Bank Group, Inc		113
	177,657		CapitalSource, Inc		1,709
	121,535		Capitol Federal Financial		1,467
	22,480		Cardinal Financial Corp		409
	61,647		Cathay General Bancorp		1,240
	9,768		Center Bancorp, Inc		121
	16,756		Centerstate Banks of Florida, Inc		144
	16,733	*	Central Pacific Financial Corp		263
	2,883		Century Bancorp, Inc		98
	18,856		Chemical Financial Corp		497
	153,338	*	CIT Group, Inc		6,667
	9,568		Citizens & Northern Corp		187
	30,246	*	Citizens Republic Bancorp, Inc		682
	12,921	e	City Holding Co		514
	35,413		City National Corp		2,086
	10,007		Clifton Savings Bancorp, Inc		125
	6,672		CNB Financial Corp		114
	21,290		CoBiz, Inc		172
	31,348	e	Columbia Banking System, Inc		689
	150,256		Comerica, Inc		5,402
	62,228		Commerce Bancshares, Inc		2,541
	32,481		Community Bank System, Inc		962
	11,562		Community Trust Bancorp, Inc		393
	42,127	e	Cullen/Frost Bankers, Inc		2,634

246

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	67,239	e	CVB Financial Corp	$	758
	23,810		Dime Community Bancshares		342
	96,753	*	Doral Financial Corp		68
	12,747	*	Eagle Bancorp, Inc		279
	111,043		East West Bancorp, Inc		2,850
	4,559		Enterprise Bancorp, Inc		77
	11,656		Enterprise Financial Services Corp		167
	8,385		ESB Financial Corp		115
	12,436		ESSA Bancorp, Inc		135
	16,542		EverBank Financial Corp		255
	14,022		Farmers National Banc Corp		89
	7,387		Federal Agricultural Mortgage Corp (Class C)		227
	6,963		Fidelity Southern Corp		80
	697,677		Fifth Third Bancorp		11,379
	7,979		Financial Institutions, Inc		159
	9,860		First Bancorp (NC)		133
	54,501	*,e	First Bancorp (Puerto Rico)		340
	6,485		First Bancorp, Inc		117
	58,052		First Busey Corp		265
	16,444	*	First California Financial Group, Inc		140
	4,123		First Citizens Bancshares, Inc (Class A)		753
	84,375		First Commonwealth Financial Corp		629
	12,139		First Community Bancshares, Inc		192
	13,926		First Connecticut Bancorp		205
	7,726		First Defiance Financial Corp		180
	44,691		First Financial Bancorp		717
	26,120	e	First Financial Bankshares, Inc		1,269
	8,954		First Financial Corp		282
	12,966		First Financial Holdings, Inc		272
	12,796	*	First Financial Northwest, Inc		100
	197,967		First Horizon National Corp		2,114
	9,546		First Interstate Bancsystem, Inc		180
	19,481		First Merchants Corp		301
	57,533		First Midwest Bancorp, Inc		764
	263,698		First Niagara Financial Group, Inc		2,336
	5,749		First of Long Island Corp		170
	6,248		First Pactrust Bancorp, Inc		71
	77,940		First Republic Bank		3,010
	82,846	e	FirstMerit Corp		1,369
	23,200		Flushing Financial Corp		393
	106,793		FNB Corp		1,292
	7,261	*,e	FNB United Corp		71
	11,394		Fox Chase Bancorp, Inc		192
	10,443		Franklin Financial Corp		191
	152,821		Fulton Financial Corp		1,788
	8,476	e	German American Bancorp, Inc		195
	56,600		Glacier Bancorp, Inc		1,074
	7,809		Great Southern Bancorp, Inc		190
	55,830	*	Guaranty Bancorp		117
	14,437	*,e	Hampton Roads Bankshares, Inc		19
	58,181		Hancock Holding Co		1,799
	23,963	*	Hanmi Financial Corp		383

247

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,342		Heartland Financial USA, Inc	$	261
	15,254	*	Heritage Commerce Corp		103
	11,990		Heritage Financial Corp		174
	6,199		Heritage Financial Group		90
	14,409	*	Heritage Oaks Bancorp		82
	939		Hingham Institution for Savings		65
	5,389	*	Home Bancorp, Inc		100
	18,696		Home Bancshares, Inc		704
	12,641		Home Federal Bancorp, Inc		162
	40,300		Home Loan Servicing Solutions Ltd		940
	6,988	*	HomeStreet, Inc		156
	5,500	*	HomeTrust Bancshares, Inc		87
	4,089		Horizon Bancorp		83
	404,335		Hudson City Bancorp, Inc		3,493
	11,015		Hudson Valley Holding Corp		164
	664,830		Huntington Bancshares, Inc		4,913
	22,391		IBERIABANK Corp		1,120
	17,904	e	Independent Bank Corp		584
	40,567		International Bancshares Corp		844
	33,889		Investors Bancorp, Inc		636
	14,732		Kearny Financial Corp		150
	728,383		Keycorp		7,255
	20,622		Lakeland Bancorp, Inc		203
	12,420		Lakeland Financial Corp		332
	96,672	e	M&T Bank Corp		9,973
	15,363		MainSource Financial Group, Inc		216
	41,491		MB Financial, Inc		1,003
	6,437		Mercantile Bank Corp		108
	3,784		Merchants Bancshares, Inc		114
	7,250	*	Meridian Interstate Bancorp, Inc		136
	11,922	*	MetroCorp Bancshares, Inc		120
	240,424	*,e	MGIC Investment Corp		1,190
	4,068		Middleburg Financial Corp		79
	3,556		Midsouth Bancorp, Inc		58
	5,257		MidWestOne Financial Group, Inc		125
	2,927	*,e	NASB Financial, Inc		62
	5,200		National Bank Holdings Corp		95
	5,351	e	National Bankshares, Inc		187
	101,297		National Penn Bancshares, Inc		1,083
	14,584	*,e	Nationstar Mortgage Holdings, Inc		538
	34,107		NBT Bancorp, Inc		755
	331,783	e	New York Community Bancorp, Inc		4,761
	20,079		Northfield Bancorp, Inc		228
	4,751		Northrim BanCorp, Inc		107
	81,183		Northwest Bancshares, Inc		1,030
	10,808		OceanFirst Financial Corp		156
	80,790	*	Ocwen Financial Corp		3,064
	76,288		Old National Bancorp		1,049
	9,164	*	OmniAmerican Bancorp, Inc		232
	33,903	e	Oriental Financial Group, Inc		526
	40,271		Oritani Financial Corp		624
	14,467		Pacific Continental Corp		162

248

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,850	*	Pacific Mercantile Bancorp	$	46
	27,050	e	PacWest Bancorp		787
	10,731	e	Park National Corp		749
	22,441	*	Park Sterling Bank		127
	6,595		Peapack Gladstone Financial Corp		98
	2,964	e	Penns Woods Bancorp, Inc		121
	10,509	*	Pennsylvania Commerce Bancorp, Inc		174
	6,808		Peoples Bancorp, Inc		152
	4,902		Peoples Federal Bancshares, Inc		94
	248,855		People’s United Financial, Inc		3,345
	25,469	*	Pinnacle Financial Partners, Inc		595
	403,370		PNC Financial Services Group, Inc		26,824
	77,233	*	Popular, Inc		2,132
	8,859	*	Preferred Bank		140
	45,847		PrivateBancorp, Inc		867
	35,938		Prosperity Bancshares, Inc		1,703
	7,003		Provident Financial Holdings, Inc		119
	45,191		Provident Financial Services, Inc		690
	30,181		Provident New York Bancorp		274
	149,476	e	Radian Group, Inc		1,601
	1,076,498		Regions Financial Corp		8,817
	19,501		Renasant Corp		436
	6,104	e	Republic Bancorp, Inc (Class A)		138
	22,920		Rockville Financial, Inc		297
	7,271		Roma Financial Corp		117
	20,998		S&T Bancorp, Inc		389
	8,198		S.Y. Bancorp, Inc		184
	18,232		Sandy Spring Bancorp, Inc		366
	11,445	e	SCBT Financial Corp		577
	55,743	*	Seacoast Banking Corp of Florida		117
	7,907		SI Financial Group, Inc		96
	8,919		Sierra Bancorp		117
	37,719	*	Signature Bank		2,971
	13,207		Simmons First National Corp (Class A)		334
	7,275		Simplicity Bancorp, Inc		109
	12,186	e	Southside Bancshares, Inc		256
	14,769	*	Southwest Bancorp, Inc		186
	24,453		State Bank & Trust Co		400
	16,183		StellarOne Corp		261
	27,752		Sterling Bancorp		282
	20,641		Sterling Financial Corp		448
	7,140	*	Suffolk Bancorp		102
	29,193	*	Sun Bancorp, Inc		100
	410,690		SunTrust Banks, Inc		11,832
	147,939		Susquehanna Bancshares, Inc		1,839
	33,751	*	SVB Financial Group		2,394
	597,443		Synovus Financial Corp		1,655
	12,643	*	Taylor Capital Group, Inc		202
	122,960		TCF Financial Corp		1,840
	9,400		Territorial Bancorp, Inc		224
	32,020	*	Texas Capital Bancshares, Inc		1,295
	61,768	*	TFS Financial Corp		669

249

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	16,995	*	The Bancorp, Inc	$	235
	7,054		Tompkins Trustco, Inc		298
	18,385	e	TowneBank		275
	4,100		Tree.com, Inc		76
	9,919		Trico Bancshares		170
	72,196		Trustco Bank Corp NY		403
	49,168		Trustmark Corp		1,230
	24,801		UMB Financial Corp		1,217
	85,518		Umpqua Holdings Corp		1,134
	14,087		Union Bankshares Corp		276
	38,221	e	United Bankshares, Inc		1,017
	31,617	*	United Community Banks, Inc		359
	15,445		United Financial Bancorp, Inc		235
	12,704		Univest Corp of Pennsylvania		221
	1,445,310		US Bancorp		49,039
	147,776	e	Valley National Bancorp		1,513
	26,270		ViewPoint Financial Group		528
	20,684	*	Virginia Commerce Bancorp		291
	7,900	*	Walker & Dunlop, Inc		142
	12,184		Washington Banking Co		170
	81,549		Washington Federal, Inc		1,427
	10,818		Washington Trust Bancorp, Inc		296
	52,669		Webster Financial Corp		1,278
	3,738,402		Wells Fargo & Co		138,284
	19,012		WesBanco, Inc		455
	11,970		West Bancorporation, Inc		133
	14,484		West Coast Bancorp		352
	23,501	e	Westamerica Bancorporation		1,065
	59,188	*	Western Alliance Bancorp		819
	23,121		Westfield Financial, Inc		180
	44,266	*	Wilshire Bancorp, Inc		300
	27,726		Wintrust Financial Corp		1,027
	5,884		WSFS Financial Corp		286
	139,772		Zions Bancorporation		3,493
			TOTAL BANKS		440,710
CAPITAL GOODS - 8.1%
	529,381		3M Co		56,278
	29,148		A.O. Smith Corp		2,144
	13,279		Aaon, Inc		366
	29,552		AAR Corp		543
	30,986	*	Accuride Corp		167
	17,815		Aceto Corp		197
	52,376		Actuant Corp (Class A)		1,604
	31,651		Acuity Brands, Inc		2,195
	86,169	*	Aecom Technology Corp		2,826
	28,439	*	Aegion Corp		658
	14,335	*	Aerovironment, Inc		260
	74,189		AGCO Corp		3,867
	49,377	e	Air Lease Corp		1,448
	43,373		Aircastle Ltd		593
	4,490		Alamo Group, Inc		172

250

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,047		Albany International Corp (Class A)	$	666
	25,266		Alliant Techsystems, Inc		1,830
	18,705		Altra Holdings, Inc		509
	13,776	*	Ameresco, Inc		102
	7,032		American Railcar Industries, Inc		329
	7,536		American Science & Engineering, Inc		460
	35,994	*,e	American Superconductor Corp		96
	8,518	*	American Woodmark Corp		290
	182,200		Ametek, Inc		7,900
	8,632		Ampco-Pittsburgh Corp		163
	24,223	*,e	API Technologies Corp		60
	25,458		Apogee Enterprises, Inc		737
	32,556		Applied Industrial Technologies, Inc		1,465
	5,631		Argan, Inc		84
	16,319		Armstrong World Industries, Inc		912
	73,192	*	ArvinMeritor, Inc		346
	15,638		Astec Industries, Inc		546
	7,762	*	Astronics Corp		231
	21,118		AZZ, Inc		1,018
	90,144		Babcock & Wilcox Co		2,561
	39,660		Barnes Group, Inc		1,147
	74,030	*	BE Aerospace, Inc		4,463
	35,044	*	Beacon Roofing Supply, Inc		1,355
	34,599		Belden CDT, Inc		1,787
	35,059	*	Blount International, Inc		469
	21,794	*,e	Bluelinx Holdings, Inc		62
	571,848		Boeing Co		49,093
	37,869		Brady Corp (Class A)		1,270
	39,839		Briggs & Stratton Corp		988
	33,815	*	Builders FirstSource, Inc		198
	9,868	*	CAI International, Inc		284
	274,193	*,e	Capstone Turbine Corp		247
	46,691		Carlisle Cos, Inc		3,165
	497,090		Caterpillar, Inc		43,232
	22,260	*	Chart Industries, Inc		1,781
	80,771		Chicago Bridge & Iron Co NV		5,016
	12,832		CIRCOR International, Inc		545
	38,968		Clarcor, Inc		2,041
	21,101		CNH Global NV		872
	6,482		Coleman Cable, Inc		97
	33,277	*,e	Colfax Corp		1,549
	12,813	*	Columbus McKinnon Corp		247
	33,040		Comfort Systems USA, Inc		466
	18,507	*	Commercial Vehicle Group, Inc		144
	4,761	*	CPI Aerostructures, Inc		41
	38,179		Crane Co		2,133
	12,848		Cubic Corp		549
	145,837		Cummins, Inc		16,889
	35,284		Curtiss-Wright Corp		1,224
	442,293		Danaher Corp		27,489
	303,700		Deere & Co		26,112

251

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	39,839	*	DigitalGlobe, Inc	$	1,152
	113,848		Donaldson Co, Inc		4,120
	21,128		Douglas Dynamics, Inc		292
	132,393		Dover Corp		9,649
	6,613	*	DXP Enterprises, Inc		494
	25,816	*	Dycom Industries, Inc		508
	12,440		Dynamic Materials Corp		216
	4,594		Eastern Co		81
	351,712		Eaton Corp		21,542
	11,908	*	Edgen Group, Inc		86
	50,074		EMCOR Group, Inc		2,123
	559,669		Emerson Electric Co		31,269
	15,305		Encore Wire Corp		536
	25,675	*	Energy Recovery, Inc		95
	37,162	*	EnerSys		1,694
	12,394	*	Engility Holdings, Inc		297
	15,889	*,e	EnPro Industries, Inc		813
	20,938		ESCO Technologies, Inc		856
	23,350	*	Esterline Technologies Corp		1,768
	139,194		Exelis, Inc		1,516
	225,719		Fastenal Co		11,591
	50,117	*	Federal Signal Corp		408
	26,655	*	Flow International Corp		104
	39,008		Flowserve Corp		6,542
	129,217		Fluor Corp		8,571
	121,373	*	Fortune Brands Home & Security, Inc		4,543
	36,490		Franklin Electric Co, Inc		1,225
	12,439		Freightcar America, Inc		271
	89,877	*,e	FuelCell Energy, Inc		85
	25,764	*	Furmanite Corp		172
	38,032		Gardner Denver, Inc		2,857
	35,871		GATX Corp		1,864
	42,477	*,e	GenCorp, Inc		565
	16,474	e	Generac Holdings, Inc		582
	37,226	*	General Cable Corp		1,364
	242,334		General Dynamics Corp		17,087
	8,084,432		General Electric Co		186,912
	20,138	*	Gibraltar Industries, Inc		368
	12,250		Global Power Equipment Group, Inc		216
	12,953		Gorman-Rupp Co		389
	46,150		Graco, Inc		2,678
	84,833	*,e	GrafTech International Ltd		652
	12,308		Graham Corp		305
	29,395		Granite Construction, Inc		936
	44,924		Great Lakes Dredge & Dock Corp		302
	20,367	*	Greenbrier Cos, Inc		463
	37,869		Griffon Corp		451
	21,180		H&E Equipment Services, Inc		432
	8,389		Hardinge, Inc		114
	61,544		Harsco Corp		1,524
	39,839		Heico Corp		1,729
	74,803	*	Hexcel Corp		2,170

252

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	593,617		Honeywell International, Inc	$	44,729
	12,024		Houston Wire & Cable Co		156
	44,093		Hubbell, Inc (Class B)		4,282
	37,789		Huntington Ingalls		2,015
	4,796	*	Hurco Cos, Inc		131
	8,424		Hyster-Yale Materials Handling, Inc		481
	62,789		IDEX Corp		3,354
	39,772	*	II-VI, Inc		678
	306,159		Illinois Tool Works, Inc		18,657
	227,999		Ingersoll-Rand plc		12,542
	10,094		Insteel Industries, Inc		165
	69,597		ITT Corp		1,979
	96,521	*	Jacobs Engineering Group, Inc		5,428
	20,027		John Bean Technologies Corp		416
	80,876		Joy Global, Inc		4,814
	9,545	*	Kadant, Inc		239
	21,747		Kaman Corp		771
	25,042		Kaydon Corp		641
	113,401		KBR, Inc		3,638
	61,060		Kennametal, Inc		2,384
	14,447	*,e	KEYW Holding Corp		233
	24,942	*,e	Kratos Defense & Security Solutions, Inc		125
	73,264		L-3 Communications Holdings, Inc		5,929
	13,874	*	Layne Christensen Co		297
	7,262		LB Foster Co (Class A)		322
	38,988		Lennox International, Inc		2,475
	63,965		Lincoln Electric Holdings, Inc		3,466
	10,010	e	Lindsay Manufacturing Co		883
	6,398	*	LMI Aerospace, Inc		133
	199,517		Lockheed Martin Corp		19,257
	12,960		LSI Industries, Inc		90
	12,907	*	Lydall, Inc		198
	99,971		Manitowoc Co, Inc		2,055
	272,388		Masco Corp		5,516
	43,578	*,e	Mastec, Inc		1,270
	10,825		Met-Pro Corp		112
	7,039		Michael Baker Corp		172
	13,902	*	Middleby Corp		2,115
	7,280		Miller Industries, Inc		117
	34,691	*	Moog, Inc (Class A)		1,590
	17,106	*	MRC Global, Inc		563
	34,768		MSC Industrial Direct Co (Class A)		2,982
	15,066		Mueller Industries, Inc		803
	118,277		Mueller Water Products, Inc (Class A)		701
	13,261	*	MYR Group, Inc		326
	3,938	e	National Presto Industries, Inc		317
	53,847	*,e	Navistar International Corp		1,861
	19,754	*	NCI Building Systems, Inc		343
	12,459	*	NN, Inc		118
	48,825		Nordson Corp		3,220
	6,024	*	Nortek, Inc		430
	180,280		Northrop Grumman Corp		12,647

253

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,845	*	Northwest Pipe Co	$	247
	44,747	*	Orbital Sciences Corp		747
	19,593	*	Orion Marine Group, Inc		195
	69,175	*	Oshkosh Truck Corp		2,939
	93,019	*	Owens Corning, Inc		3,668
	270,531		Paccar, Inc		13,678
	87,575		Pall Corp		5,988
	114,637		Parker Hannifin Corp		10,498
	159,128		Pentair Ltd		8,394
	24,600	*	Perini Corp		475
	12,323		Pike Electric Corp		175
	13,529	*	PMFG, Inc		83
	35,438	*,e	Polypore International, Inc		1,424
	5,761	*	Powell Industries, Inc		303
	111,065		Precision Castparts Corp		21,060
	1,801		Preformed Line Products Co		126
	19,995		Primoris Services Corp		442
	3,700	*	Proto Labs, Inc		182
	28,579		Quanex Building Products Corp		460
	159,563	*	Quanta Services, Inc		4,560
	27,582		Raven Industries, Inc		927
	254,601		Raytheon Co		14,968
	16,219	*	RBC Bearings, Inc		820
	32,018		Regal-Beloit Corp		2,611
	21,768	*	Rexnord Corp		462
	108,971		Rockwell Automation, Inc		9,410
	104,791		Rockwell Collins, Inc		6,614
	74,201		Roper Industries, Inc		9,447
	24,579	*	Rush Enterprises, Inc (Class A)		593
	8,467		Sauer-Danfoss, Inc		495
	8,300		SeaCube Container Leasing Ltd		191
	31,950		Simpson Manufacturing Co, Inc		978
	44,614		Snap-On, Inc		3,690
	10,100	*	SolarCity Corp		191
	90,789	*	Spirit Aerosystems Holdings, Inc (Class A)		1,724
	37,552		SPX Corp		2,965
	11,927		Standex International Corp		659
	123,315		Stanley Works		9,985
	12,518	*	Sterling Construction Co, Inc		136
	15,189		Sun Hydraulics Corp		494
	3,737		Sypris Solutions, Inc		16
	21,485		TAL International Group, Inc		973
	44,785	*	Taser International, Inc		356
	28,168	*	Teledyne Technologies, Inc		2,210
	14,645		Tennant Co		711
	83,491	*	Terex Corp		2,874
	10,588	e	Textainer Group Holdings Ltd		419
	211,407		Textron, Inc		6,302
	4,600	*	The ExOne Company		154
	10,410	*	Thermon Group Holdings		231
	66,676		Timken Co		3,773
	36,771	e	Titan International, Inc		775

254

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,613	*,e	Titan Machinery, Inc	$	322
	45,144		Toro Co		2,078
	39,014		TransDigm Group, Inc		5,966
	13,203	*	Trex Co, Inc		649
	24,820	*	Trimas Corp		806
	61,064		Trinity Industries, Inc		2,768
	38,084		Triumph Group, Inc		2,990
	6,504	e	Twin Disc, Inc		163
	70,844	*,e	United Rentals, Inc		3,894
	695,716		United Technologies Corp		65,001
	14,766		Universal Forest Products, Inc		588
	57,668		URS Corp		2,734
	55,472	*,e	USG Corp		1,467
	17,556		Valmont Industries, Inc		2,761
	12,845		Vicor Corp		64
	44,645		W.W. Grainger, Inc		10,044
	52,045	*	Wabash National Corp		529
	48,319	*	WABCO Holdings, Inc		3,411
	22,186		Watsco, Inc		1,868
	21,144		Watts Water Technologies, Inc (Class A)		1,015
	33,347	*,e	WESCO International, Inc		2,421
	35,993		Westinghouse Air Brake Technologies Corp		3,675
	4,376	*	Willis Lease Finance Corp		66
	52,887		Woodward Governor Co		2,103
	139,194		Xylem, Inc		3,836
			TOTAL CAPITAL GOODS		1,086,340
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
	41,289		ABM Industries, Inc		918
	37,820	*	Acacia Research (Acacia Technologies)		1,141
	87,875	*	ACCO Brands Corp		587
	13,021	e	Acorn Energy, Inc		96
	16,355		Administaff, Inc		464
	174,773		ADT Corp		8,553
	25,530	*	Advisory Board Co		1,341
	14,202		American Ecology Corp		377
	26,021	*	ARC Document Solutions, Inc		78
	7,698	*	AT Cross Co		106
	79,016		Avery Dennison Corp		3,403
	6,166		Barrett Business Services, Inc		325
	35,828		Brink’s Co		1,012
	19,056	*	Casella Waste Systems, Inc (Class A)		83
	41,673	*,e	CBIZ, Inc		266
	7,981		CDI Corp		137
	38,005	*,e	Cenveo, Inc		82
	81,968		Cintas Corp		3,617
	40,798	*	Clean Harbors, Inc		2,370
	8,210	*	Consolidated Graphics, Inc		321
	85,446	*,e	Coolbrands International, Inc		110
	76,816	*	Copart, Inc		2,633
	25,057		Corporate Executive Board Co		1,457
	76,892		Corrections Corp of America		3,004

255

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	6,267		Courier Corp	$	90
	83,398	e	Covanta Holding Corp		1,680
	8,400	*	CRA International, Inc		188
	37,676		Deluxe Corp		1,560
	23,101	*	Dolan Media Co		55
	34,283	e	Dun & Bradstreet Corp		2,868
	67,718	*	EnergySolutions, Inc		254
	20,747	*	EnerNOC, Inc		360
	17,307		Ennis, Inc		261
	91,556		Equifax, Inc		5,273
	11,236		Exponent, Inc		606
	9,375	*	Franklin Covey Co		136
	32,036	*	FTI Consulting, Inc		1,206
	15,088		G & K Services, Inc (Class A)		687
	54,016		Geo Group, Inc		2,032
	12,104	*	GP Strategies Corp		289
	49,713		Healthcare Services Group		1,274
	14,300		Heidrick & Struggles International, Inc		214
	5,613	*,e	Heritage-Crystal Clean, Inc		85
	43,782		Herman Miller, Inc		1,211
	17,074	*	Hill International, Inc		51
	33,809		HNI Corp		1,200
	24,166	*	Hudson Highland Group, Inc		95
	16,505	*	Huron Consulting Group, Inc		665
	14,961	*	ICF International, Inc		407
	114,792	*	ICO Global Communications Holdings Ltd		191
	38,396	*	IHS, Inc (Class A)		4,021
	22,974	*,e	Innerworkings, Inc		348
	44,922		Interface, Inc		863
	6,998	e	Intersections, Inc		66
	125,363		Iron Mountain, Inc		4,552
	21,500		KAR Auction Services, Inc		431
	20,372		Kelly Services, Inc (Class A)		381
	21,985		Kforce, Inc		360
	25,171		Kimball International, Inc (Class B)		228
	35,963		Knoll, Inc		652
	34,304	*	Korn/Ferry International		613
	62,295		Manpower, Inc		3,533
	17,708		McGrath RentCorp		551
	39,317	*	Metalico, Inc		64
	21,996		Mine Safety Appliances Co		1,091
	13,300	*	Mistras Group, Inc		322
	28,189	*	Mobile Mini, Inc		830
	8,734		Multi-Color Corp		225
	40,393	*	Navigant Consulting, Inc		531
	92,217		Nielsen Holdings NV		3,303
	4,943		NL Industries, Inc		61
	50,328	*,e	Odyssey Marine Exploration, Inc		164
	33,022	*	On Assignment, Inc		836
	6,800	*	Performant Financial Corp		83
	133,197	e	Pitney Bowes, Inc		1,979
	19,286		Quad		462

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	137,806	e	R.R. Donnelley & Sons Co	$	1,661
	228,537		Republic Services, Inc		7,542
	32,857		Resources Connection, Inc		417
	108,320		Robert Half International, Inc		4,065
	46,383		Rollins, Inc		1,139
	16,511	*	RPX Corp		233
	10,767		Schawk, Inc (Class A)		118
	12,140	*	Standard Parking Corp		251
	54,705		Steelcase, Inc (Class A)		806
	64,951	*	Stericycle, Inc		6,896
	15,368	*	Team, Inc		631
	47,935	*	Tetra Tech, Inc		1,462
	9,816	*	TMS International Corp		130
	46,448		Towers Watson & Co		3,220
	13,579	*	TRC Cos, Inc		88
	36,370	*	TrueBlue, Inc		769
	353,146		Tyco International Ltd		11,301
	11,503		Unifirst Corp		1,041
	31,063		United Stationers, Inc		1,201
	112,125	*	Verisk Analytics, Inc		6,910
	15,178		Viad Corp		420
	2,793		VSE Corp		70
	4,634	*	WageWorks, Inc		116
	93,921		Waste Connections, Inc		3,379
	352,615		Waste Management, Inc		13,826
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		149,661
CONSUMER DURABLES & APPAREL - 1.5%
	29,617	e	American Greetings Corp (Class A)		477
	9,523	*	Arctic Cat, Inc		416
	8,829		Bassett Furniture Industries, Inc		141
	18,720	*,e	Beazer Homes USA, Inc		297
	7,843	e	Blyth, Inc		136
	68,196		Brunswick Corp		2,334
	51,179	e	Callaway Golf Co		339
	36,026	*	Carter’s, Inc		2,063
	4,557	*	Cavco Industries, Inc		217
	5,581		Cherokee, Inc		76
	31,639	*	Clarus Corp		288
	217,888		Coach, Inc		10,892
	9,339	e	Columbia Sportswear Co		541
	68,785	*	CROCS, Inc		1,019
	5,480		CSS Industries, Inc		142
	6,895		Culp, Inc		110
	27,484	*,e	Deckers Outdoor Corp		1,531
	4,329	*	Delta Apparel, Inc		71
	212,202		DR Horton, Inc		5,157
	18,783	e	Ethan Allen Interiors, Inc		618
	91,288	*	Fifth & Pacific Cos, Inc		1,724
	3,461		Flexsteel Industries, Inc		86
	41,666	*	Fossil, Inc		4,025
	82,384	*,e	Garmin Ltd		2,722

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	13,268	*	G-III Apparel Group Ltd	$	532
	73,677	*	Hanesbrands, Inc		3,357
	53,605		Harman International Industries, Inc		2,392
	88,192	e	Hasbro, Inc		3,875
	23,782	*	Helen of Troy Ltd		912
	7,853	e	Hooker Furniture Corp		125
	93,175	*,e	Hovnanian Enterprises, Inc (Class A)		538
	54,965	*	Iconix Brand Group, Inc		1,422
	21,039	*,e	iRobot Corp		540
	20,248	e	Jakks Pacific, Inc		212
	90,160	*	Jarden Corp		3,863
	3,583	*	Johnson Outdoors, Inc		85
	66,643		Jones Apparel Group, Inc		848
	63,287	e	KB Home		1,378
	19,366	*	K-Swiss, Inc (Class A)		92
	39,237		La-Z-Boy, Inc		740
	34,167	*,e	Leapfrog Enterprises, Inc		292
	106,800		Leggett & Platt, Inc		3,608
	122,890	e	Lennar Corp (Class A)		5,097
	16,013	*	Libbey, Inc		310
	7,210		Lifetime Brands, Inc		82
	16,303	*,e	M/I Homes, Inc		399
	17,427	*	Maidenform Brands, Inc		305
	8,407		Marine Products Corp		62
	259,803		Mattel, Inc		11,377
	29,150		MDC Holdings, Inc		1,068
	22,694	*	Meritage Homes Corp		1,063
	63,961	*	Michael Kors Holdings Ltd		3,632
	43,299	*	Mohawk Industries, Inc		4,898
	12,667		Movado Group, Inc		425
	4,424		Nacco Industries, Inc (Class A)		236
	221,507		Newell Rubbermaid, Inc		5,781
	551,834		Nike, Inc (Class B)		32,564
	3,763	*	NVR, Inc		4,064
	10,106		Oxford Industries, Inc		537
	8,860		Perry Ellis International, Inc		161
	58,989		Phillips-Van Heusen Corp		6,301
	48,524		Polaris Industries, Inc		4,488
	36,161		Pool Corp		1,736
	256,906	*	Pulte Homes, Inc		5,200
	107,027	*	Quiksilver, Inc		650
	47,058		Ralph Lauren Corp		7,967
	6,477		RG Barry Corp		87
	35,106	e	Ryland Group, Inc		1,461
	27,339	*	Skechers U.S.A., Inc (Class A)		578
	12,508	*,e	Skullcandy, Inc		66
	52,271	*,e	Smith & Wesson Holding Corp		470
	83,238	*,e	Standard-Pacific Corp		719
	4,356	*	Steinway Musical Instruments, Inc		105
	30,111	*	Steven Madden Ltd		1,299
	14,503	e	Sturm Ruger & Co, Inc		736
	45,228	*	Tempur-Pedic International, Inc		2,245

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	109,135	*	Toll Brothers, Inc	$	3,737
	12,000	*	TRI Pointe Homes, Inc.		242
	19,300		True Religion Apparel, Inc		504
	16,316	*,e	Tumi Holdings, Inc		342
	42,641		Tupperware Corp		3,485
	57,954	*,e	Under Armour, Inc (Class A)		2,967
	10,905	*	Unifi, Inc		208
	11,370	*	Universal Electronics, Inc		264
	15,069	*,e	Vera Bradley, Inc		356
	66,632		VF Corp		11,178
	5,214		Weyco Group, Inc		128
	59,006		Whirlpool Corp		6,990
	36,852	e	Wolverine World Wide, Inc		1,635
	28,030	*,e	Zagg, Inc		204
			TOTAL CONSUMER DURABLES & APPAREL		198,642
CONSUMER SERVICES - 2.2%
	18,260	*	AFC Enterprises		663
	13,862	*,e	American Public Education, Inc		484
	24,907		Ameristar Casinos, Inc		653
	74,107	*,e	Apollo Group, Inc (Class A)		1,289
	11,587	*	Ascent Media Corp (Series A)		863
	31,030	*	Bally Technologies, Inc		1,613
	18,782	*	BJ’s Restaurants, Inc		625
	14,000	*	Bloomin’ Brands, Inc		250
	9,987	*	Bluegreen Corp		98
	22,385		Bob Evans Farms, Inc		954
	37,877	*,e	Boyd Gaming Corp		313
	14,947	*	Bravo Brio Restaurant Group, Inc		237
	14,051	*,e	Bridgepoint Education, Inc		144
	9,000	*	Bright Horizons Family Solutions		304
	57,602		Brinker International, Inc		2,169
	14,166	*	Buffalo Wild Wings, Inc		1,240
	27,800	*,e	Caesars Entertainment Corp		441
	12,593	*	Capella Education Co		392
	46,334	*	Career Education Corp		110
	315,306		Carnival Corp		10,815
	12,748		Carriage Services, Inc		271
	8,099	*	Carrols Restaurant Group, Inc		42
	14,608		CBRL Group, Inc		1,181
	15,042		CEC Entertainment, Inc		493
	41,224		Cheesecake Factory		1,592
	24,233	*	Chipotle Mexican Grill, Inc (Class A)		7,897
	18,925	e	Choice Hotels International, Inc		801
	9,609		Churchill Downs, Inc		673
	5,100	*	Chuy’s Holdings, Inc		166
	23,500	*,e	Coinstar, Inc		1,373
	3,869	e	Collectors Universe		46
	59,209	*,e	Corinthian Colleges, Inc		124
	98,248		Darden Restaurants, Inc		5,077
	4,400	*	Del Frisco’s Restaurant Group, Inc		73
	75,312	*	Denny’s Corp		435

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	50,888		DeVry, Inc	$	1,616
	11,939		DineEquity, Inc		821
	44,119		Domino’s Pizza, Inc		2,269
	53,983		Dunkin Brands Group, Inc		1,991
	21,777	*,e	Education Management Corp		80
	4,221		Einstein Noah Restaurant Group, Inc		63
	11,999	*	Fiesta Restaurant Group, Inc		319
	2,428		Frisch’s Restaurants, Inc		44
	30,359	*	Grand Canyon Education, Inc		771
	209,732		H&R Block, Inc		6,170
	41,775		Hillenbrand, Inc		1,056
	33,800	*	Hyatt Hotels Corp		1,461
	4,863	*	Ignite Restaurant Group, Inc		71
	204,140		International Game Technology		3,368
	22,405		International Speedway Corp (Class A)		732
	33,777		Interval Leisure Group, Inc		734
	15,534	*	Isle of Capri Casinos, Inc		98
	18,743	*,e	ITT Educational Services, Inc		258
	33,770	*	Jack in the Box, Inc		1,168
	47,403	*,e	Jamba, Inc		135
	18,366	*,e	K12, Inc		443
	39,822	*	Krispy Kreme Doughnuts, Inc		575
	303,242		Las Vegas Sands Corp		17,088
	32,744	*	Life Time Fitness, Inc		1,401
	13,800	*	LifeLock, Inc		133
	17,103		Lincoln Educational Services Corp		100
	13,766	*	Luby’s, Inc		103
	8,861		Mac-Gray Corp		113
	14,891		Marcus Corp		186
	193,633		Marriott International, Inc (Class A)		8,177
	19,786	*	Marriott Vacations Worldwide Corp		849
	23,085		Matthews International Corp (Class A)		805
	775,402		McDonald’s Corp		77,300
	300,388	*	MGM Mirage		3,950
	8,692	*	Monarch Casino & Resort, Inc		85
	23,956	*	Morgans Hotel Group Co		142
	17,243	*	MTR Gaming Group, Inc		57
	20,438	*	Multimedia Games, Inc		427
	2,018	*	Nathan’s Famous, Inc		85
	5,638		National American University Holdings, Inc		22
	20,600	*	Norwegian Cruise Line Holdings Ltd		611
	71,477	*	Orient-Express Hotels Ltd (Class A)		705
	21,333	*	Panera Bread Co (Class A)		3,525
	13,283	*	Papa John’s International, Inc		821
	50,416	*	Penn National Gaming, Inc		2,744
	48,180	*	Pinnacle Entertainment, Inc		704
	21,234	*	Premier Exhibitions, Inc		56
	9,873	*	Red Lion Hotels Corp		70
	11,853	*	Red Robin Gourmet Burgers, Inc		540
	44,951	e	Regis Corp		818
	111,785		Royal Caribbean Cruises Ltd		3,713
	50,005	*	Ruby Tuesday, Inc		369

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	26,831	*	Ruth’s Chris Steak House, Inc	$	256
	49,874	*	Scientific Games Corp (Class A)		436
	165,818		Service Corp International		2,774
	44,601	*	SHFL Entertainment, Inc		739
	30,384		Six Flags Entertainment Corp		2,202
	45,772	*	Sonic Corp		590
	51,448		Sotheby’s (Class A)		1,925
	9,984		Speedway Motorsports, Inc		180
	577,720		Starbucks Corp		32,907
	150,829		Starwood Hotels & Resorts Worldwide, Inc		9,612
	958	*	Steak N Shake Co		357
	11,970	*	Steiner Leisure Ltd		579
	68,986		Stewart Enterprises, Inc (Class A)		641
	9,323	e	Strayer Education, Inc		451
	42,904		Texas Roadhouse, Inc (Class A)		866
	16,126		Town Sports International Holdings, Inc		153
	15,190		Universal Technical Institute, Inc		192
	27,599		Vail Resorts, Inc		1,720
	20,124	e	Weight Watchers International, Inc		847
	230,986	e	Wendy’s		1,310
	43,711	*	WMS Industries, Inc		1,102
	111,352		Wyndham Worldwide Corp		7,180
	60,884		Wynn Resorts Ltd		7,620
	351,411		Yum! Brands, Inc		25,280
			TOTAL CONSUMER SERVICES		293,762
DIVERSIFIED FINANCIALS - 6.3%
	38,978	*	Affiliated Managers Group, Inc		5,986
	254,072	*	American Capital Ltd		3,708
	762,823		American Express Co		51,460
	157,851		Ameriprise Financial, Inc		11,626
	149,594		Apollo Investment Corp		1,251
	189,701		Ares Capital Corp		3,434
	21,300		Artio Global Investors, Inc		58
	12,860	*	Asset Acceptance Capital Corp		87
	8,882		Asta Funding, Inc		85
	8,218,089		Bank of America Corp		100,096
	910,007		Bank of New York Mellon Corp		25,471
	75,948		BGC Partners, Inc (Class A)		316
	54,667		BlackRock Kelso Capital Corp		547
	97,140		BlackRock, Inc		24,953
	16,951		Calamos Asset Management, Inc (Class A)		200
	441,067		Capital One Financial Corp		24,237
	2,167		Capital Southwest Corp		249
	22,738	e	Cash America International, Inc		1,193
	66,839		CBOE Holdings, Inc		2,469
	820,091		Charles Schwab Corp		14,507
	2,237,389		Citigroup, Inc		98,982
	252,555		CME Group, Inc		15,504
	14,207	e	Cohen & Steers, Inc		512
	50,765	*	Cowen Group, Inc		143
	5,866	*	Credit Acceptance Corp		716

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,816	*	Deerfield Capital Corp	$	81
	1,990		Diamond Hill Investment Group, Inc		155
	377,932		Discover Financial Services		16,946
	33,079	*	Dollar Financial Corp		550
	21,313		Duff & Phelps Corp		331
	216,676	*	E*Trade Financial Corp		2,321
	91,544		Eaton Vance Corp		3,829
	16,926	*,e	Encore Capital Group, Inc		509
	21,903		Evercore Partners, Inc (Class A)		911
	36,390	*	Ezcorp, Inc (Class A)		775
	9,821	*	FBR & Co		186
	69,691	e	Federated Investors, Inc (Class B)		1,650
	7,094	e	Fidus Investment Corp		136
	79,957	*	Fifth Street Finance Corp		881
	35,325	e	Financial Engines, Inc		1,279
	23,334	*	First Cash Financial Services, Inc		1,361
	58,259	*	First Marblehead Corp		59
	1,504	*	Firsthand Technology Value Fund, Inc		29
	106,210		Franklin Resources, Inc		16,018
	9,042		Friedman Billings Ramsey Group, Inc (Class A)		233
	17,300	e	FXCM, Inc		237
	7,000	e	Gain Capital Holdings, Inc		31
	6,584		GAMCO Investors, Inc (Class A)		350
	54,396		GFI Group, Inc		182
	15,081		Gladstone Capital Corp		139
	15,921		Gladstone Investment Corp		116
	355,049		Goldman Sachs Group, Inc		52,246
	10,597	e	Golub Capital BDC, Inc		175
	16,998	*,e	Green Dot Corp		284
	22,433	e	Greenhill & Co, Inc		1,197
	14,431	*,e	GSV Capital Corp		119
	16,757	*	Harris & Harris Group, Inc		60
	38,185		Hercules Technology Growth Capital, Inc		468
	22,560		HFF, Inc (Class A)		450
	4,930		Horizon Technology Finance Corp		72
	30,361		Interactive Brokers Group, Inc (Class A)		453
	55,972	*,e	IntercontinentalExchange, Inc		9,127
	12,794	*	International Assets Holding Corp		223
	32,107	*	Internet Capital Group, Inc		401
	342,435		Invesco Ltd		9,917
	34,884	*	Investment Technology Group, Inc		385
	37,500	e	iShares Russell 2000 Index Fund		3,535
	140,813	e	Janus Capital Group, Inc		1,324
	11,011		JMP Group, Inc		76
	2,904,620		JPMorgan Chase & Co		137,853
	15,310	e	KCAP Financial, Inc		165
	138,000	*	Knight Capital Group, Inc (Class A)		513
	73,441	*	Ladenburg Thalmann Financial Services, Inc		122
	87,189		Lazard Ltd (Class A)		2,976
	107,590	e	Legg Mason, Inc		3,459
	237,961		Leucadia National Corp		6,527
	38,545		LPL Financial Holdings, Inc		1,243

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,309	e	Main Street Capital Corp	$	748
	10,552		Manning & Napier, Inc		175
	27,836		MarketAxess Holdings, Inc		1,038
	6,533		Marlin Business Services Corp		151
	64,585		MCG Capital Corp		309
	9,981		Medallion Financial Corp		132
	21,871		Medley Capital Corp		347
	7,162		MicroFinancial, Inc		60
	148,573		Moody’s Corp		7,922
	1,170,627		Morgan Stanley		25,730
	91,923	*	MSCI, Inc (Class A)		3,119
	17,411		MVC Capital, Inc		223
	88,875		Nasdaq Stock Market, Inc		2,871
	20,204		Nelnet, Inc (Class A)		683
	23,100	*	Netspend Holdings, Inc		367
	14,567		New Mountain Finance Corp		213
	21,889	*	NewStar Financial, Inc		290
	12,077		NGP Capital Resources Co		86
	7,402	e	Nicholas Financial, Inc		109
	165,817		Northern Trust Corp		9,047
	194,468		NYSE Euronext		7,514
	7,363		Oppenheimer Holdings, Inc		143
	43,579		PennantPark Investment Corp		492
	41,814	*,e	PHH Corp		918
	17,372	*	Pico Holdings, Inc		386
	13,978	*	Piper Jaffray Cos		479
	13,016	*	Portfolio Recovery Associates, Inc		1,652
	144,746	e	Prospect Capital Corp		1,579
	9,591		Pzena Investment Management, Inc (Class A)		62
	86,796		Raymond James Financial, Inc		4,001
	4,005	*	Regional Management Corp		81
	9,098		Resource America, Inc (Class A)		91
	21,125	*	Safeguard Scientifics, Inc		334
	104,055		SEI Investments Co		3,002
	350,331		SLM Corp		7,175
	34,070		Solar Capital Ltd		800
	6,100		Solar Senior Capital Ltd		117
	222,000		SPDR Trust Series 1		34,754
	348,491		State Street Corp		20,592
	6,000	e	Stellus Capital Investment Corp		89
	46,094	*	Stifel Financial Corp		1,598
	37,258	*	SWS Group, Inc		225
	194,560		T Rowe Price Group, Inc		14,567
	3,999		TCP Capital Corp		64
	177,302		TD Ameritrade Holding Corp		3,656
	6,653		THL Credit, Inc		100
	29,067		TICC Capital Corp		289
	20,596	e	Triangle Capital Corp		576
	4,394	*	Virtus Investment Partners, Inc		819
	67,558		Waddell & Reed Financial, Inc (Class A)		2,958
	27,153		Walter Investment Management Corp		1,011
	3,869		Westwood Holdings Group, Inc		172

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	44,981	*	WisdomTree Investments, Inc	$	468
	9,005	*,e	World Acceptance Corp		772
			TOTAL DIVERSIFIED FINANCIALS		835,611
ENERGY - 9.9%
	70,225	*,e	Abraxas Petroleum Corp		162
	1,730		Adams Resources & Energy, Inc		88
	9,171		Alon USA Energy, Inc		175
	172,068	*	Alpha Natural Resources, Inc		1,413
	13,406	*,e	Amyris Biotechnologies, Inc		41
	381,150		Anadarko Petroleum Corp		33,332
	297,384		Apache Corp		22,946
	6,580	e	APCO Argentina, Inc		82
	25,857	*,e	Approach Resources, Inc		636
	176,691	e	Arch Coal, Inc		959
	44,174	*	Atwood Oceanics, Inc		2,321
	332,452		Baker Hughes, Inc		15,429
	23,122	*,e	Basic Energy Services, Inc		316
	39,652		Berry Petroleum Co (Class A)		1,835
	35,237	*,e	Bill Barrett Corp		714
	6,457		Bolt Technology Corp		113
	7,300	*	Bonanza Creek Energy, Inc		282
	90,573	*,e	BPZ Energy, Inc		206
	27,721		Bristow Group, Inc		1,828
	36,182	*,e	C&J Energy Services, Inc		829
	160,014		Cabot Oil & Gas Corp		10,819
	79,978	*,e	Cal Dive International, Inc		144
	27,753	*	Callon Petroleum Co		103
	186,999	*	Cameron International Corp		12,192
	14,570	e	CARBO Ceramics, Inc		1,327
	29,745	*	Carrizo Oil & Gas, Inc		767
	163,741	*	Cheniere Energy, Inc		4,585
	506,290	e	Chesapeake Energy Corp		10,333
	1,505,079		Chevron Corp		178,833
	64,690		Cimarex Energy Co		4,880
	4,602	*	Clayton Williams Energy, Inc		201
	50,466	*,e	Clean Energy Fuels Corp		656
	46,507	*	Cloud Peak Energy, Inc		873
	140,665	*	Cobalt International Energy, Inc		3,967
	36,545	*	Comstock Resources, Inc		594
	79,401	*	Concho Resources, Inc		7,736
	964,863		ConocoPhillips		57,988
	173,265		Consol Energy, Inc		5,830
	9,289		Contango Oil & Gas Co		372
	31,808	*	Continental Resources, Inc		2,765
	15,591	*	Crimson Exploration, Inc		45
	30,807		Crosstex Energy, Inc		593
	12,600	*	CVR Energy, Inc		650
	67,340	*,m	CVR Energy, Inc (Contingent value right)		0	^
	4,479	*	Dawson Geophysical Co		134
	13,030		Delek US Holdings, Inc		514
	300,252	*	Denbury Resources, Inc		5,600

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	307,359	*	Devon Energy Corp	$	17,341
	52,396		Diamond Offshore Drilling, Inc		3,645
	6,200	*	Diamondback Energy, Inc		166
	57,836	*	Dresser-Rand Group, Inc		3,566
	30,642	*	Dril-Quip, Inc		2,671
	19,368	*	Emerald Oil, Inc		136
	39,982	*,e	Endeavour International Corp		118
	55,035		Energen Corp		2,862
	60,385		Energy XXI Bermuda Ltd		1,644
	205,983		EOG Resources, Inc		26,380
	21,960	*	EPL Oil & Gas, Inc		589
	100,514		Equitable Resources, Inc		6,810
	16,143	*	Era Group, Inc		339
	11,704	*	Evolution Petroleum Corp		119
	90,647	e	EXCO Resources, Inc		646
	49,393	*	Exterran Holdings, Inc		1,334
	3,567,946	d	Exxon Mobil Corp		321,508
	182,708	*	FMC Technologies, Inc		9,937
	11,631	*	Forbes Energy Services Ltd		43
	103,339	*	Forest Oil Corp		544
	16,394	*,e	Forum Energy Technologies, Inc		471
	39,564	*,e	Frontline Ltd		93
	36,931	*	FX Energy, Inc		124
	17,507		GasLog Ltd		225
	54,404	*,e	Gastar Exploration Ltd		96
	9,836	*	Geospace Technologies Corp		1,061
	62,267	*,e	Gevo, Inc		139
	14,135	*,e	Global Geophysical Services, Inc		35
	31,274	e	Golar LNG Ltd		1,156
	20,317	*,e	Goodrich Petroleum Corp		318
	20,962	*	Green Plains Renewable Energy, Inc		240
	11,124		Gulf Island Fabrication, Inc		234
	20,444		Gulfmark Offshore, Inc		796
	61,073	*	Gulfport Energy Corp		2,799
	81,613	*	Halcon Resources Corp		636
	703,804		Halliburton Co		28,441
	14,621	*,e	Harvest Natural Resources, Inc		51
	101,502	*,e	Heckmann Corp		435
	76,906	*	Helix Energy Solutions Group, Inc		1,760
	72,674		Helmerich & Payne, Inc		4,411
	133,318	*	Hercules Offshore, Inc		989
	231,836		Hess Corp		16,602
	158,226		Holly Corp		8,141
	27,922	*	Hornbeck Offshore Services, Inc		1,297
	100,154	*	ION Geophysical Corp		682
	823	*	Isramco, Inc		82
	114,852	*	Key Energy Services, Inc		928
	373,078		Kinder Morgan, Inc		14,431
	20,784	*,e	KiOR, Inc (Class A)		97
	18,775	e	Knightsbridge Tankers Ltd		154
	200,347	*	Kodiak Oil & Gas Corp		1,821
	53,500	*	Kosmos Energy LLC		605

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	15,300	*	Laredo Petroleum Holdings, Inc	$	280
	25,668	e	Lufkin Industries, Inc		1,704
	118,728	*,e	Magnum Hunter Resources Corp		476
	536,377		Marathon Oil Corp		18,087
	259,857		Marathon Petroleum Corp		23,283
	10,300	*	Matador Resources Co		91
	23,922	*	Matrix Service Co		356
	176,324	*	McDermott International, Inc		1,938
	78,067	*,e	McMoRan Exploration Co		1,276
	18,666	*	Midstates Petroleum Co, Inc		160
	31,904	*,e	Miller Petroleum, Inc		118
	7,684	*	Mitcham Industries, Inc		130
	147,081		Murphy Oil Corp		9,373
	217,056		Nabors Industries Ltd		3,521
	324,105		National Oilwell Varco, Inc		22,930
	9,713	*	Natural Gas Services Group, Inc		187
	101,438	*	Newfield Exploration Co		2,274
	69,901	*	Newpark Resources, Inc		649
	136,027		Noble Energy, Inc		15,733
	37,402	e	Nordic American Tanker Shipping		432
	48,403	*,e	Northern Oil And Gas, Inc		696
	60,964	*	Oasis Petroleum, Inc		2,321
	619,228		Occidental Petroleum Corp		48,529
	82,172		Oceaneering International, Inc		5,457
	40,649	*	Oil States International, Inc		3,316
	5,367		Panhandle Oil and Gas, Inc (Class A)		154
	96,030	*	Parker Drilling Co		411
	119,282		Patterson-UTI Energy, Inc		2,844
	18,000		PBF Energy, Inc		669
	22,888	*	PDC Energy, Inc		1,135
	207,042		Peabody Energy Corp		4,379
	51,215		Penn Virginia Corp		207
	43,261	*,e	Petroquest Energy, Inc		192
	9,723	*	PHI, Inc		333
	476,223		Phillips 66		33,321
	42,944	*	Pioneer Energy Services Corp		354
	101,860		Pioneer Natural Resources Co		12,656
	98,805	*	Plains Exploration & Production Co		4,690
	136,144		Questar Market Resources, Inc		4,335
	106,368	*,e	Quicksilver Resources, Inc		239
	123,265		Range Resources Corp		9,989
	211,004		Rentech, Inc		496
	35,433	*	Resolute Energy Corp		408
	36,039	*	Rex Energy Corp		594
	6,400	*	Rex Stores Corp		142
	9,601	*	RigNet, Inc		239
	40,850	*	Rosetta Resources, Inc		1,944
	93,928	*	Rowan Cos plc		3,321
	49,925	e	RPC, Inc		757
	7,400	*,e	Sanchez Energy Corp		147
	373,618	*,e	SandRidge Energy, Inc		1,969
	13,465	*	Saratoga Resources, Inc		36

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	1,017,515		Schlumberger Ltd	$	76,202
	63,547	*	Scorpio Tankers, Inc		567
	16,143		SEACOR Holdings, Inc		1,189
	31,863	*	SemGroup Corp		1,648
	34,031	e	Ship Finance International Ltd		600
	24,842	*,e	Solazyme, Inc		194
	264,293	*	Southwestern Energy Co		9,848
	495,029		Spectra Energy Corp		15,222
	49,022		St. Mary Land & Exploration Co		2,903
	36,323	*	Stone Energy Corp		790
	120,353	*	Superior Energy Services		3,126
	32,148	*	Swift Energy Co		476
	42,911	*	Synergy Resources Corp		294
	23,492		Targa Resources Investments, Inc		1,596
	27,666		Teekay Corp		995
	48,134	e	Teekay Tankers Ltd (Class A)		137
	23,351	*	Tesco Corp		313
	106,482		Tesoro Corp		6,235
	61,337	*	Tetra Technologies, Inc		629
	10,963		TGC Industries, Inc		109
	38,204	e	Tidewater, Inc		1,929
	46,549	*	Triangle Petroleum Corp		307
	117,937	*,e	Ultra Petroleum Corp		2,371
	36,980	*	Unit Corp		1,684
	49,078	*,e	Uranerz Energy Corp		62
	76,523	*,e	Uranium Energy Corp		168
	48,465	*	Vaalco Energy, Inc		368
	421,828		Valero Energy Corp		19,189
	169,150	*,e	Vantage Drilling Co		296
	26,733	e	W&T Offshore, Inc		380
	67,894	*	Warren Resources, Inc		218
	44,635	e	Western Refining, Inc		1,581
	7,723	*,e	Westmoreland Coal Co		88
	89,390	*	Whiting Petroleum Corp		4,545
	29,621	*	Willbros Group, Inc		291
	514,513		Williams Cos, Inc		19,274
	54,207		World Fuel Services Corp		2,153
	151,612	*	WPX Energy, Inc		2,429
	19,733	*,e	ZaZa Energy Corp		37
			TOTAL ENERGY		1,315,677
FOOD & STAPLES RETAILING - 2.1%
	14,244		Andersons, Inc		762
	837		Arden Group, Inc (Class A)		85
	29,135		Casey’s General Stores, Inc		1,699
	7,700	*	Chefs’ Warehouse Holdings, Inc		142
	330,598		Costco Wholesale Corp		35,080
	977,774		CVS Corp		53,768
	21,250	*	Fresh Market, Inc		909
	33,356		Harris Teeter Supermarkets, Inc		1,425
	8,163		Ingles Markets, Inc (Class A)		175
	402,377		Kroger Co		13,335

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,977		Nash Finch Co	$	215
	5,400	*,e	Natural Grocers by Vitamin C		122
	16,292	*	Pantry, Inc		203
	13,557	e	Pricesmart, Inc		1,055
	505,498	*	Rite Aid Corp		960
	14,600	e	Roundy’s, Inc		96
	183,872	e	Safeway, Inc		4,845
	18,527		Spartan Stores, Inc		325
	161,893	e	Supervalu, Inc		816
	8,570	*	Susser Holdings Corp		438
	446,925		Sysco Corp		15,718
	36,743	*	United Natural Foods, Inc		1,808
	6,413		Village Super Market (Class A)		216
	657,869		Walgreen Co		31,367
	1,289,521		Wal-Mart Stores, Inc		96,495
	8,834		Weis Markets, Inc		359
	140,495		Whole Foods Market, Inc		12,188
			TOTAL FOOD & STAPLES RETAILING		274,606
FOOD, BEVERAGE & TOBACCO - 5.3%
	2,319		Alico, Inc		107
	68,179	*	Alliance One International, Inc		265
	1,553,311		Altria Group, Inc		53,418
	3,728	*,e	Annie’s, Inc		143
	499,683		Archer Daniels Midland Co		16,854
	37,577		B&G Foods, Inc (Class A)		1,146
	120,273		Beam, Inc		7,642
	5,917	*,e	Boston Beer Co, Inc (Class A)		945
	44,670	*	Boulder Brands, Inc		401
	114,627		Brown-Forman Corp (Class B)		8,184
	111,486		Bunge Ltd		8,231
	9,305	e	Calavo Growers, Inc		268
	10,929	e	Cal-Maine Foods, Inc		465
	133,322	e	Campbell Soup Co		6,047
	31,603	*	Chiquita Brands International, Inc		245
	4,202		Coca-Cola Bottling Co Consolidated		253
	2,964,130		Coca-Cola Co		119,870
	226,205		Coca-Cola Enterprises, Inc		8,352
	316,941		ConAgra Foods, Inc		11,350
	112,764	*	Constellation Brands, Inc (Class A)		5,372
	7,653	*	Craft Brewers Alliance, Inc		57
	88,594	*	Darling International, Inc		1,591
	140,023	*	Dean Foods Co		2,539
	16,103	*,e	Diamond Foods, Inc		272
	27,600	*	Dole Food Co, Inc		301
	161,709		Dr Pepper Snapple Group, Inc		7,592
	5,320	*	Farmer Bros Co		78
	85,492		Flowers Foods, Inc		2,816
	27,620		Fresh Del Monte Produce, Inc		745
	492,947		General Mills, Inc		24,307
	105,274	*,e	Green Mountain Coffee Roasters, Inc		5,975
	2,482		Griffin Land & Nurseries, Inc (Class A)		75

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	242,648		H.J. Heinz Co	$	17,536
	27,245	*,e	Hain Celestial Group, Inc		1,664
	114,634		Hershey Co		10,034
	89,547		Hillshire Brands Co		3,148
	102,534		Hormel Foods Corp		4,237
	57,268		Ingredion, Inc		4,142
	10,713	*	Inventure Foods, Inc		83
	11,326		J&J Snack Foods Corp		871
	85,533		J.M. Smucker Co		8,481
	5,780		John B. Sanfilippo & Son, Inc		115
	184,900		Kellogg Co		11,913
	450,185		Kraft Foods Group, Inc		23,198
	14,250		Lancaster Colony Corp		1,097
	33,835		Lance, Inc		855
	3,603	e	Lifeway Foods, Inc		50
	6,464		Limoneira Co		125
	296,868		Lorillard, Inc		11,979
	101,273		McCormick & Co, Inc		7,449
	154,598		Mead Johnson Nutrition Co		11,974
	97,904		Molson Coors Brewing Co (Class B)		4,790
	1,350,755		Mondelez International, Inc		41,347
	108,688	*	Monster Beverage Corp		5,189
	5,604		National Beverage Corp		79
	15,084	*	Omega Protein Corp		162
	1,193,327		PepsiCo, Inc		94,404
	1,301,293		Philip Morris International, Inc		120,643
	45,390	*	Pilgrim’s Pride Corp		417
	21,173	*	Post Holdings, Inc		909
	251,472		Reynolds American, Inc		11,188
	17,484		Sanderson Farms, Inc		955
	240		Seaboard Corp		672
	7,792	*	Seneca Foods Corp		257
	116,361	*	Smithfield Foods, Inc		3,081
	14,223	*,e	Synutra International, Inc		67
	19,213	e	Tootsie Roll Industries, Inc		575
	26,938	*	TreeHouse Foods, Inc		1,755
	222,098		Tyson Foods, Inc (Class A)		5,512
	18,707	e	Universal Corp		1,048
	42,163	e	Vector Group Ltd		680
	17,500	*,e	WhiteWave Foods Co		299
			TOTAL FOOD, BEVERAGE & TOBACCO		708,886
HEALTH CARE EQUIPMENT & SERVICES - 4.4%
	15,924		Abaxis, Inc		754
	1,202,437		Abbott Laboratories		42,470
	27,756	*,e	Abiomed, Inc		518
	24,043	*	Acadia Healthcare Co, Inc		707
	43,084	*,e	Accretive Health, Inc		438
	52,299	*,e	Accuray, Inc		243
	249,283		Aetna, Inc		12,743
	29,433		Air Methods Corp		1,420
	54,705	*	Align Technology, Inc		1,833

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	130,978	*	Allscripts Healthcare Solutions, Inc	$	1,780
	7,268		Almost Family, Inc		149
	39,818	*	Alphatec Holdings, Inc		84
	21,596	*,e	Amedisys, Inc		240
	178,361		AmerisourceBergen Corp		9,177
	30,580	*	AMN Healthcare Services, Inc		484
	25,648	*	Amsurg Corp		863
	10,953		Analogic Corp		866
	18,523	*	Angiodynamics, Inc		212
	8,891	*	Anika Therapeutics, Inc		129
	91,526	*,e	Antares Pharma, Inc		328
	20,843	*	Arthrocare Corp		725
	17,166		Assisted Living Concepts, Inc (A Shares)		204
	27,327	*,e	athenahealth, Inc		2,652
	10,854	*	AtriCure, Inc		86
	1,039		Atrion Corp		200
	64,366		Bard (C.R.), Inc		6,487
	420,169		Baxter International, Inc		30,521
	155,498		Becton Dickinson & Co		14,867
	18,346	*,e	Bio-Reference Labs, Inc		477
	31,488	*	BioScrip, Inc		400
	1,091,151	*	Boston Scientific Corp		8,522
	74,076	*	Brookdale Senior Living, Inc		2,065
	18,628		Cantel Medical Corp		560
	21,051	*	Capital Senior Living Corp		556
	262,207		Cardinal Health, Inc		10,913
	15,037	*,e	Cardiovascular Systems, Inc		308
	169,678	*	CareFusion Corp		5,937
	156,388	*	Catamaran Corp		8,293
	39,667	*	Centene Corp		1,747
	110,520	*	Cerner Corp		10,472
	28,816	*,e	Cerus Corp		127
	14,552		Chemed Corp		1,164
	8,056	*	Chindex International, Inc		111
	218,410		Cigna Corp		13,622
	69,450		Community Health Systems, Inc		3,291
	9,537		Computer Programs & Systems, Inc		516
	25,681	*	Conceptus, Inc		620
	22,053		Conmed Corp		751
	36,172		Cooper Cos, Inc		3,902
	6,016	*	Corvel Corp		298
	102,330		Coventry Health Care, Inc		4,813
	368,379		Covidien plc		24,991
	22,090	*	Cross Country Healthcare, Inc		117
	27,223		CryoLife, Inc		164
	20,834	*	Cyberonics, Inc		975
	9,393	*	Cynosure, Inc (Class A)		246
	72,047	*	DaVita, Inc		8,544
	107,747		Dentsply International, Inc		4,571
	7,513	*,e	Derma Sciences, Inc		91
	50,790	*	DexCom, Inc		849
	87,257	*	Edwards Lifesciences Corp		7,169

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,206	*	Emeritus Corp	$	645
	42,117	*	Endologix, Inc		680
	13,113		Ensign Group, Inc		438
	20,936	*	EnteroMedics, Inc		21
	4,898	*	Exactech, Inc		101
	20,845	*,e	ExamWorks Group, Inc		361
	614,561	*	Express Scripts Holding Co		35,429
	24,001	*	Five Star Quality Care, Inc		161
	22,160	*	Gentiva Health Services, Inc		240
	7,300	*,e	Globus Medical, Inc		107
	19,254	*	Greatbatch, Inc		575
	6,213	*,e	Greenway Medical Technologies		99
	38,562	*	Haemonetics Corp		1,607
	25,502	*	Hanger Orthopedic Group, Inc		804
	32,412	*,e	Hansen Medical, Inc		65
	125,573		HCA Holdings, Inc		5,102
	197,006	*	Health Management Associates, Inc (Class A)		2,535
	63,559	*	Health Net, Inc		1,819
	71,500	*	Healthsouth Corp		1,885
	14,864	*	HealthStream, Inc		341
	28,116	*	Healthways, Inc		344
	10,804	*,e	HeartWare International, Inc		955
	68,817	*	Henry Schein, Inc		6,369
	49,054		Hill-Rom Holdings, Inc		1,728
	65,676	*	HMS Holdings Corp		1,783
	200,085	*	Hologic, Inc		4,522
	123,289		Humana, Inc		8,521
	9,095	*	ICU Medical, Inc		536
	42,203	*	Idexx Laboratories, Inc		3,899
	39,836	*	Insulet Corp		1,030
	16,089	*	Integra LifeSciences Holdings Corp		628
	30,288	*	Intuitive Surgical, Inc		14,877
	23,110		Invacare Corp		302
	64,014	*	Inverness Medical Innovations, Inc		1,634
	11,925	*	IPC The Hospitalist Co, Inc		530
	38,766	*	Kindred Healthcare, Inc		408
	73,960	*	Laboratory Corp of America Holdings		6,671
	8,629		Landauer, Inc		487
	11,927	*	LHC Group, Inc		256
	37,223	*	LifePoint Hospitals, Inc		1,804
	20,796	*	Magellan Health Services, Inc		989
	27,393	*,e	MAKO Surgical Corp		305
	38,810		Masimo Corp		761
	179,599		McKesson Corp		19,390
	44,883	*	MedAssets, Inc		864
	17,100	*	Medidata Solutions, Inc		991
	791,918		Medtronic, Inc		37,188
	38,200	*,e	Merge Healthcare, Inc		110
	31,965	e	Meridian Bioscience, Inc		729
	29,037	*	Merit Medical Systems, Inc		356
	21,513	*,e	Molina Healthcare, Inc		664
	9,533	*	MWI Veterinary Supply, Inc		1,261

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,081		National Healthcare Corp	$	369
	1,866		National Research Corp		108
	19,956	*	Natus Medical, Inc		268
	18,486	*	Neogen Corp		916
	97,156	*,e	Neoprobe Corp		263
	33,067	*	NuVasive, Inc		705
	37,870	*	NxStage Medical, Inc		427
	84,450		Omnicare, Inc		3,439
	24,067	*	Omnicell, Inc		454
	36,642	*	OraSure Technologies, Inc		198
	14,876	*	Orthofix International NV		534
	48,567	e	Owens & Minor, Inc		1,581
	12,302	*	Palomar Medical Technologies, Inc		166
	71,157		Patterson Cos, Inc		2,707
	7,109	*	PDI, Inc		42
	37,651	*	Pediatrix Medical Group, Inc		3,375
	23,814	*	PharMerica Corp		333
	9,836	*,e	PhotoMedex, Inc		158
	8,598	*	Providence Service Corp		159
	29,676		Quality Systems, Inc		542
	120,517		Quest Diagnostics, Inc		6,803
	21,781	*,e	Quidel Corp		517
	108,952	e	Resmed, Inc		5,051
	7,696	*	Rochester Medical Corp		113
	12,187	*,e	Rockwell Medical Technologies, Inc		48
	38,631	*	RTI Biologics, Inc		152
	24,177		Select Medical Holdings Corp		218
	42,129	*	Sirona Dental Systems, Inc		3,106
	15,881	*	Skilled Healthcare Group, Inc (Class A)		104
	44,003	*	Solta Medical, Inc		97
	26,592	*	Spectranetics Corp		493
	215,715		St. Jude Medical, Inc		8,724
	26,141	*	Staar Surgical Co		147
	44,285		STERIS Corp		1,843
	236,412		Stryker Corp		15,424
	13,627	*	SurModics, Inc		371
	32,497	*	Symmetry Medical, Inc		372
	20,027	*	Team Health Holdings, Inc		729
	30,710		Teleflex, Inc		2,595
	79,191	*	Tenet Healthcare Corp		3,768
	44,951	*	Thoratec Corp		1,686
	11,480	*	Tornier BV		216
	14,800	*	Triple-S Management Corp (Class B)		258
	57,226	*,e	Unilife Corp		125
	791,601		UnitedHealth Group, Inc		45,288
	28,773		Universal American Corp		240
	67,358		Universal Health Services, Inc (Class B)		4,302
	8,422		US Physical Therapy, Inc		226
	2,349		Utah Medical Products, Inc		115
	23,000	*	Vanguard Health Systems, Inc		342
	85,052	*	Varian Medical Systems, Inc		6,124
	12,709	*	Vascular Solutions, Inc		206

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	66,310	*	VCA Antech, Inc	$	1,558
	5,028	*	Vocera Communications, Inc		116
	39,957	*,e	Volcano Corp		889
	32,075	*	WellCare Health Plans, Inc		1,859
	231,693		WellPoint, Inc		15,345
	26,348		West Pharmaceutical Services, Inc		1,711
	28,863	*	Wright Medical Group, Inc		687
	12,908	*,e	Zeltiq Aesthetics, Inc		49
	133,222		Zimmer Holdings, Inc		10,021
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		591,051
HOUSEHOLD & PERSONAL PRODUCTS - 2.1%
	327,248		Avon Products, Inc		6,784
	46,305	*	Central Garden and Pet Co (Class A)		381
	104,151		Church & Dwight Co, Inc		6,731
	99,151		Clorox Co		8,778
	364,572		Colgate-Palmolive Co		43,031
	17,747	*	Elizabeth Arden, Inc		714
	49,897		Energizer Holdings, Inc		4,976
	174,666		Estee Lauder Cos (Class A)		11,184
	11,623	e	Female Health Co		84
	31,617	*	Harbinger Group, Inc		261
	84,168	e	Herbalife Ltd		3,152
	12,258		Inter Parfums, Inc		300
	299,538		Kimberly-Clark Corp		29,349
	9,661	*	Medifast, Inc		222
	5,868		Nature’s Sunshine Products, Inc		89
	41,386	e	Nu Skin Enterprises, Inc (Class A)		1,829
	8,067		Nutraceutical International Corp		140
	3,981		Oil-Dri Corp of America		108
	4,547		Orchids Paper Products Co		106
	38,233	*	Prestige Brands Holdings, Inc		982
	2,090,705		Procter & Gamble Co		161,110
	9,587	*	Revlon, Inc (Class A)		214
	17,518		Spectrum Brands, Inc		991
	110,286	*,e	Star Scientific, Inc		183
	6,878	*,e	USANA Health Sciences, Inc		332
	13,264		WD-40 Co		727
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		282,758
INSURANCE - 4.0%
	258,407		ACE Ltd		22,990
	356,767		Aflac, Inc		18,559
	12,914	*	Alleghany Corp		5,113
	27,778		Allied World Assurance Co Holdings Ltd		2,576
	372,320		Allstate Corp		18,270
	46,461	e	American Equity Investment Life Holding Co		692
	65,324		American Financial Group, Inc		3,095
	489,091	*	American International Group, Inc		18,986
	4,964		American National Insurance Co		431
	7,468	*	American Safety Insurance Holdings Ltd		186
	13,065		Amerisafe, Inc		464

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,586	e	Amtrust Financial Services, Inc	$	679
	247,540		Aon plc		15,224
	101,165	*	Arch Capital Group Ltd		5,318
	21,131		Argo Group International Holdings Ltd		874
	89,396		Arthur J. Gallagher & Co		3,693
	54,260		Aspen Insurance Holdings Ltd		2,093
	61,882		Assurant, Inc		2,785
	122,889		Assured Guaranty Ltd		2,533
	83,728		Axis Capital Holdings Ltd		3,485
	6,904		Baldwin & Lyons, Inc (Class B)		164
	1,358,733	*	Berkshire Hathaway, Inc (Class B)		141,580
	89,066		Brown & Brown, Inc		2,854
	204,803		Chubb Corp		17,926
	111,579		Cincinnati Financial Corp		5,265
	32,879	*	Citizens, Inc (Class A)		276
	19,762		CNA Financial Corp		646
	162,070		Conseco, Inc		1,856
	14,025		Crawford & Co (Class B)		106
	9,364		Donegal Group, Inc (Class A)		143
	4,850		Eastern Insurance Holdings, Inc		91
	17,698	*	eHealth, Inc		316
	4,503		EMC Insurance Group, Inc		119
	24,104		Employers Holdings, Inc		565
	31,116		Endurance Specialty Holdings Ltd		1,488
	6,491	*	Enstar Group Ltd		807
	21,144		Erie Indemnity Co (Class A)		1,597
	39,815		Everest Re Group Ltd		5,170
	9,829		FBL Financial Group, Inc (Class A)		382
	168,142		Fidelity National Title Group, Inc (Class A)		4,242
	80,939		First American Financial Corp		2,070
	375,048	*	Genworth Financial, Inc (Class A)		3,750
	20,683	*	Greenlight Capital Re Ltd (Class A)		506
	7,438	*	Hallmark Financial Services		67
	34,492		Hanover Insurance Group, Inc		1,714
	334,401		Hartford Financial Services Group, Inc		8,627
	77,301		HCC Insurance Holdings, Inc		3,249
	30,002	*	Hilltop Holdings, Inc		405
	5,748	e	Homeowners Choice, Inc		157
	29,235		Horace Mann Educators Corp		609
	5,951		Independence Holding Co		61
	10,619		Infinity Property & Casualty Corp		597
	862		Investors Title Co		59
	2,078		Kansas City Life Insurance Co		81
	39,343		Kemper Corp		1,283
	218,155		Lincoln National Corp		7,114
	237,662		Loews Corp		10,474
	34,934		Maiden Holdings Ltd		370
	7,278	*,e	Markel Corp		3,664
	415,452		Marsh & McLennan Cos, Inc		15,775
	65,416		Max Capital Group Ltd		2,061
	112,430	*,e	MBIA, Inc		1,155
	42,189		Meadowbrook Insurance Group, Inc		297

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,342		Mercury General Corp	$	772
	646,072		Metlife, Inc		24,564
	38,114		Montpelier Re Holdings Ltd		993
	35,464	*	National Financial Partners Corp		795
	9,917		National Interstate Corp		297
	1,551		National Western Life Insurance Co (Class A)		273
	8,338	*	Navigators Group, Inc		490
	195,723		Old Republic International Corp		2,488
	20,220		OneBeacon Insurance Group Ltd (Class A)		273
	49,344		PartnerRe Ltd		4,594
	4,932	*	Phoenix Cos, Inc		152
	26,237		Platinum Underwriters Holdings Ltd		1,464
	35,780		Primerica, Inc		1,173
	229,355		Principal Financial Group		7,805
	44,742		ProAssurance Corp		2,118
	462,929		Progressive Corp		11,698
	61,341		Protective Life Corp		2,196
	355,042		Prudential Financial, Inc		20,944
	56,415		Reinsurance Group of America, Inc (Class A)		3,366
	38,604		RenaissanceRe Holdings Ltd		3,551
	16,141		RLI Corp		1,160
	11,015		Safety Insurance Group, Inc		541
	40,400		Selective Insurance Group, Inc		970
	35,995		Stancorp Financial Group, Inc		1,539
	9,480		State Auto Financial Corp		165
	12,744	e	Stewart Information Services Corp		325
	59,563		Symetra Financial Corp		799
	75,122		Torchmark Corp		4,492
	32,528		Tower Group International Ltd		600
	294,389		Travelers Cos, Inc		24,785
	12,914	*	United America Indemnity Ltd		300
	17,338		United Fire & Casualty Co		442
	10,064		Universal Insurance Holdings, Inc		49
	214,285		UnumProvident Corp		6,054
	80,485		Validus Holdings Ltd		3,008
	82,124		W.R. Berkley Corp		3,644
	4,478		White Mountains Insurance Group Ltd		2,540
	236,648		XL Capital Ltd		7,170
			TOTAL INSURANCE		526,373
MATERIALS - 3.8%
	24,943		A. Schulman, Inc		787
	6,725	*,e	ADA-ES, Inc		179
	5,113	*	AEP Industries, Inc		367
	160,600		Air Products & Chemicals, Inc		13,991
	52,484		Airgas, Inc		5,204
	110,458	e	AK Steel Holding Corp		366
	68,023		Albemarle Corp		4,253
	811,261		Alcoa, Inc		6,912
	81,466		Allegheny Technologies, Inc		2,583
	68,161	*	Allied Nevada Gold Corp		1,122
	18,051		AMCOL International Corp		545

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,501		American Vanguard Corp	$	626
	50,149		Aptargroup, Inc		2,876
	15,246	*	Arabian American Development Co		129
	60,168		Ashland, Inc		4,470
	52,910		Axiall Corp		3,289
	21,090		Balchem Corp		927
	119,517		Ball Corp		5,687
	78,588		Bemis Co, Inc		3,172
	22,000	*	Berry Plastics Group, Inc		419
	10,300	*	Boise Cascade Co		350
	76,383		Boise, Inc		661
	14,781		Brush Engineered Materials, Inc		421
	31,123		Buckeye Technologies, Inc		932
	48,545		Cabot Corp		1,660
	45,612	*	Calgon Carbon Corp		826
	33,678		Carpenter Technology Corp		1,660
	11,808	*,e	Castle (A.M.) & Co		207
	118,461		Celanese Corp (Series A)		5,218
	39,702	*	Century Aluminum Co		307
	49,850		CF Industries Holdings, Inc		9,490
	5,158		Chase Corp		100
	73,547	*	Chemtura		1,589
	19,978	*	Clearwater Paper Corp		1,053
	124,406	e	Cleveland-Cliffs, Inc		2,365
	68,043	*	Coeur d’Alene Mines Corp		1,283
	86,134		Commercial Metals Co		1,365
	25,270		Compass Minerals International, Inc		1,994
	113,742	*	Crown Holdings, Inc		4,733
	35,121		Cytec Industries, Inc		2,602
	9,014		Deltic Timber Corp		619
	27,533		Domtar Corp		2,137
	912,058		Dow Chemical Co		29,040
	714,695		Du Pont (E.I.) de Nemours & Co		35,134
	37,135		Eagle Materials, Inc		2,474
	116,569		Eastman Chemical Co		8,145
	198,386		Ecolab, Inc		15,907
	65,770	*	Ferro Corp		444
	38,825	*	Flotek Industries, Inc		635
	104,720		FMC Corp		5,972
	723,111		Freeport-McMoRan Copper & Gold, Inc (Class B)		23,935
	14,460		FutureFuel Corp		176
	51,402	*,e	General Moly, Inc		114
	35,119		Glatfelter		821
	47,286		Globe Specialty Metals, Inc		658
	21,606	e	Gold Resource Corp		282
	53,248	*,e	Golden Minerals Co		127
	219,041	*,e	Golden Star Resources Ltd		350
	122,089	*	Graphic Packaging Holding Co		914
	24,459		Greif, Inc (Class A)		1,311
	6,559	*	GSE Holding, Inc		54
	36,749		H.B. Fuller Co		1,436
	6,809		Hawkins, Inc		272

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,402		Haynes International, Inc	$	520
	54,162	*	Headwaters, Inc		590
	214,218	e	Hecla Mining Co		846
	33,599	*	Horsehead Holding Corp		366
	145,355		Huntsman Corp		2,702
	16,427		Innophos Holdings, Inc		896
	18,027		Innospec, Inc		798
	61,486		International Flavors & Fragrances, Inc		4,714
	331,593		International Paper Co		15,446
	40,015		Intrepid Potash, Inc		751
	14,023		Kaiser Aluminum Corp		907
	32,261		Kapstone Paper and Packaging Corp		897
	4,800		KMG Chemicals, Inc		93
	16,539		Koppers Holdings, Inc		727
	24,388	*	Kraton Polymers LLC		571
	14,288	e	Kronos Worldwide, Inc		224
	14,893	*	Landec Corp		215
	101,464	*	Louisiana-Pacific Corp		2,192
	13,887	*	LSB Industries, Inc		483
	245,081		LyondellBasell Industries AF S.C.A		15,511
	34,945	e	Martin Marietta Materials, Inc		3,565
	165,552	*,e	McEwen Mining, Inc		473
	128,841		MeadWestvaco Corp		4,677
	8,652		Metals USA Holdings Corp		179
	60,363	*,e	Midway Gold Corp		74
	27,178		Minerals Technologies, Inc		1,128
	78,712	*,e	Molycorp, Inc		409
	407,761		Monsanto Co		43,072
	225,119		Mosaic Co		13,419
	23,791		Myers Industries, Inc		332
	11,726		Neenah Paper, Inc		361
	6,813		NewMarket Corp		1,774
	373,398		Newmont Mining Corp		15,642
	25,216		Noranda Aluminium Holding Corp		113
	240,423		Nucor Corp		11,096
	63,038		Olin Corp		1,590
	8,985		Olympic Steel, Inc		215
	23,303	*	OM Group, Inc		547
	32,453	*	Omnova Solutions, Inc		249
	126,112	*	Owens-Illinois, Inc		3,361
	74,848		Packaging Corp of America		3,358
	90,889	*,e	Paramount Gold and Silver Corp		203
	79,954		PolyOne Corp		1,952
	107,784		PPG Industries, Inc		14,437
	228,603		Praxair, Inc		25,498
	9,804		Quaker Chemical Corp		579
	56,307		Reliance Steel & Aluminum Co		4,007
	55,110	*,e	Resolute Forest Products		892
	18,123	*	Revett Minerals, Inc		41
	54,046		Rock-Tenn Co (Class A)		5,015
	52,353		Rockwood Holdings, Inc		3,426
	48,654		Royal Gold, Inc		3,456

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	98,223		RPM International, Inc	$	3,102
	23,200	*	RTI International Metals, Inc		735
	19,399		Schnitzer Steel Industries, Inc (Class A)		517
	23,952		Schweitzer-Mauduit International, Inc		928
	32,453		Scotts Miracle-Gro Co (Class A)		1,403
	143,206		Sealed Air Corp		3,453
	38,347		Sensient Technologies Corp		1,499
	65,724		Sherwin-Williams Co		11,100
	92,073		Sigma-Aldrich Corp		7,152
	37,804		Silgan Holdings, Inc		1,786
	76,188		Sonoco Products Co		2,666
	123,323		Southern Copper Corp (NY)		4,633
	165,292		Steel Dynamics, Inc		2,623
	12,906		Stepan Co		814
	86,171	*,e	Stillwater Mining Co		1,114
	56,972	*	SunCoke Energy, Inc		930
	61,033	*	Tahoe Resources, Inc		1,074
	17,319	*,e	Texas Industries, Inc		1,093
	19,671		Tredegar Corp		579
	4,092	*	UFP Technologies, Inc		81
	1,357	*	United States Lime & Minerals, Inc		72
	110,404	e	United States Steel Corp		2,153
	4,623	*	Universal Stainless & Alloy		168
	41,575	*,e	US Antimony Corp		72
	9,000		US Silica Holdings Inc		212
	69,821		Valspar Corp		4,346
	82,408	*,e	Vista Gold Corp		178
	98,368		Vulcan Materials Co		5,086
	46,839		Walter Energy, Inc		1,335
	37,679		Wausau Paper Corp		406
	15,532	e	Westlake Chemical Corp		1,452
	4,506	*	WHX Corp		69
	41,959		Worthington Industries, Inc		1,300
	56,274	*	WR Grace & Co		4,362
	15,316		Zep, Inc		230
	27,713	*,e	Zoltek Cos, Inc		331
			TOTAL MATERIALS		511,320
MEDIA - 3.7%
	44,331	*	AMC Networks, Inc		2,801
	20,466		Arbitron, Inc		959
	71,065		Belo (A.H.) Corp (Class A)		698
	153,456		Cablevision Systems Corp (Class A)		2,296
	13,386	*	Carmike Cinemas, Inc		242
	492,564		CBS Corp (Class B)		22,998
	27,491	*,e	Central European Media Enterprises Ltd (Class A) Nasdaq		116
	37,166	*	Charter Communications, Inc		3,872
	87,874		Cinemark Holdings, Inc		2,587
	28,047		Clear Channel Outdoor Holdings, Inc (Class A)		210
	2,048,914		Comcast Corp (Class A)		86,075
	13,062	*	Crown Media Holdings, Inc (Class A)		27
	36,647	*,e	Cumulus Media, Inc (Class A)		123

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	772	*,e	Daily Journal Corp	$	86
	20,194	*,e	Digital Generation, Inc		130
	437,688	*	DIRECTV		24,777
	181,728	*	Discovery Communications, Inc (Class A)		14,309
	155,517		DISH Network Corp (Class A)		5,894
	50,453	*,e	DreamWorks Animation SKG, Inc (Class A)		957
	18,269	*,e	Entercom Communications Corp (Class A)		136
	38,482		Entravision Communications Corp (Class A)		123
	21,197	*	EW Scripps Co (Class A)		255
	5,404		Fisher Communications, Inc		212
	179,105		Gannett Co, Inc		3,917
	8,856	*	Global Sources Ltd		67
	33,505		Harte-Hanks, Inc		261
	339,042		Interpublic Group of Cos, Inc		4,418
	35,775		John Wiley & Sons, Inc (Class A)		1,394
	42,642	*	Journal Communications, Inc (Class A)		286
	58,933	*	Lamar Advertising Co (Class A)		2,865
	200,350	*,e	Liberty Global, Inc (Class A)		14,706
	82,073	*	Liberty Media Corp		9,162
	29,608	*	Lin TV Corp (Class A)		325
	66,285	*,e	Lions Gate Entertainment Corp		1,576
	108,249	*	Live Nation, Inc		1,339
	45,616	*	Madison Square Garden, Inc		2,627
	29,313	e	Martha Stewart Living Omnimedia, Inc (Class A)		77
	45,516	*,e	McClatchy Co (Class A)		132
	212,634		McGraw-Hill Cos, Inc		11,074
	19,518	e	MDC Partners, Inc		316
	26,535	e	Meredith Corp		1,015
	18,294		Morningstar, Inc		1,279
	40,500		National CineMedia, Inc		639
	104,815	*	New York Times Co (Class A)		1,027
	1,595,831		News Corp (Class A)		48,705
	7,914		Nexstar Broadcasting Group, Inc (Class A)		142
	207,960		Omnicom Group, Inc		12,249
	11,051		Outdoor Channel Holdings, Inc		99
	77,967	*,e	Pandora Media, Inc		1,104
	7,422	*	ReachLocal, Inc		111
	12,373	*	Reading International, Inc		69
	60,087	e	Regal Entertainment Group (Class A)		1,002
	7,217	*	Rentrak Corp		159
	3,654		Saga Communications, Inc		169
	19,984		Scholastic Corp		533
	64,773		Scripps Networks Interactive (Class A)		4,167
	4,000	*	Shutterstock, Inc		180
	43,173		Sinclair Broadcast Group, Inc (Class A)		874
	2,904,827	e	Sirius XM Radio, Inc		8,947
	82,073	*	Starz-Liberty Capital		1,818
	282,106	e	Thomson Corp		9,163
	225,776		Time Warner Cable, Inc		21,688
	731,271		Time Warner, Inc		42,136
	32,675	e	Valassis Communications, Inc		976
	378,121		Viacom, Inc (Class B)		23,281

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	212,126	e	Virgin Media, Inc	$	10,388
	1,363,791		Walt Disney Co		77,463
	3,249	e	Washington Post Co (Class B)		1,452
	18,692	e	World Wrestling Entertainment, Inc (Class A)		165
			TOTAL MEDIA		495,425
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.8%
	1,198,737		AbbVie, Inc		48,884
	55,851	*	Achillion Pharmaceuticals, Inc		488
	29,951	*	Acorda Therapeutics, Inc		959
	97,368	*	Actavis, Inc		8,969
	6,188	*,e	Acura Pharmaceuticals, Inc		13
	22,653	*,e	Aegerion Pharmaceuticals, Inc		914
	56,476	*,e	Affymetrix, Inc		267
	17,407	*,e	Agenus, Inc		68
	264,050		Agilent Technologies, Inc		11,082
	44,535	*	Akorn, Inc		616
	146,789	*	Alexion Pharmaceuticals, Inc		13,525
	93,543	*	Alkermes plc		2,218
	231,545		Allergan, Inc		25,847
	41,880	*	Alnylam Pharmaceuticals, Inc		1,021
	16,995	*	AMAG Pharmaceuticals, Inc		405
	593,392		Amgen, Inc		60,829
	22,849	*,e	Amicus Therapeutics, Inc		72
	15,482	*,e	Ampio Pharmaceuticals, Inc		71
	11,354	*,e	Anacor Pharmaceuticals, Inc		73
	165,796	*,e	Arena Pharmaceuticals, Inc		1,361
	148,117	*	Ariad Pharmaceuticals, Inc		2,679
	40,003	*	Arqule, Inc		104
	109,123	*	Array Biopharma, Inc		537
	72,935	*	Astex Pharmaceuticals		325
	36,727	*	Auxilium Pharmaceuticals, Inc		635
	119,462	*,e	AVANIR Pharmaceuticals, Inc		327
	41,227	*,e	AVEO Pharmaceuticals, Inc		303
	8,246	*,e	BG Medicine, Inc		15
	38,747	*,e	BioCryst Pharmaceuticals, Inc		46
	15,220	*,e	BioDelivery Sciences International, Inc		64
	182,503	*	Biogen Idec, Inc		35,207
	93,223	*	BioMarin Pharmaceuticals, Inc		5,804
	15,217	*	Bio-Rad Laboratories, Inc (Class A)		1,917
	2,885	*	Biospecifics Technologies Corp		49
	16,168	*,e	Biotime, Inc		62
	1,289,365		Bristol-Myers Squibb Co		53,109
	70,932	*	Bruker BioSciences Corp		1,355
	47,523	*,e	Cadence Pharmaceuticals, Inc		318
	20,927	*	Cambrex Corp		268
	336,446	*	Celgene Corp		38,997
	66,491	*	Celldex Therapeutics, Inc		770
	49,716	*	Cepheid, Inc		1,908
	37,085	*	Charles River Laboratories International, Inc		1,642
	4,506	*	ChemoCentryx, Inc		62
	10,510	*,e	Clovis Oncology, Inc		301

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,275	*,e	Codexis, Inc	$	46
	32,316	*,e	Corcept Therapeutics, Inc		65
	5,072	*	Cornerstone Therapeutics, Inc		36
	10,237	*,e	Coronado Biosciences, Inc		99
	42,288	*	Covance, Inc		3,143
	48,456	*	Cubist Pharmaceuticals, Inc		2,269
	8,942	*,e	Cumberland Pharmaceuticals, Inc		45
	59,363	*,e	Curis, Inc		195
	47,980	*,e	Cytori Therapeutics, Inc		120
	119,216	*,e	Dendreon Corp		564
	40,825	*	Depomed, Inc		240
	34,683	*,e	Discovery Laboratories, Inc		79
	69,074	*	Dyax Corp		301
	95,378	*,e	Dynavax Technologies Corp		212
	782,989		Eli Lilly & Co		44,466
	19,838	*	Emergent Biosolutions, Inc		277
	89,664	*	Endo Pharmaceuticals Holdings, Inc		2,758
	22,769	*,e	Endocyte, Inc		283
	31,349		Enzon Pharmaceuticals, Inc		119
	44,787	*	Exact Sciences Corp		439
	140,174	*,e	Exelixis, Inc		648
	20,851	*	Fluidigm Corp		386
	203,023	*	Forest Laboratories, Inc		7,723
	7,338	*	Furiex Pharmaceuticals Inc		275
	14,823	*	Genomic Health, Inc		419
	88,925	*,e	Geron Corp		95
	1,155,634	*	Gilead Sciences, Inc		56,545
	6,376	*	Golf Trust Of America, Inc		32
	14,714	*	GTx, Inc		61
	68,771	*	Halozyme Therapeutics, Inc		397
	16,723	*	Harvard Bioscience, Inc		94
	8,540		Hi-Tech Pharmacal Co, Inc		283
	16,867	*,e	Horizon Pharma, Inc		46
	126,136	*	Hospira, Inc		4,141
	2,500	*	Hyperion Therapeutics, Inc		65
	57,409	*,e	Idenix Pharmaceuticals, Inc		204
	93,481	*,e	Illumina, Inc		5,048
	30,850	*,e	ImmunoCellular Therapeutics Ltd		85
	65,469	*,e	Immunogen, Inc		1,051
	54,649	*,e	Immunomedics, Inc		132
	49,816	*	Impax Laboratories, Inc		769
	73,354	*,e	Incyte Corp		1,717
	22,637	*,e	Infinity Pharmaceuticals, Inc		1,097
	61,940	*,e	InterMune, Inc		561
	57,510	*,e	Ironwood Pharmaceuticals, Inc		1,052
	74,058	*,e	Isis Pharmaceuticals, Inc		1,255
	31,607	*	Jazz Pharmaceuticals plc		1,767
	2,095,523		Johnson & Johnson		170,848
	83,997	*,e	Keryx Biopharmaceuticals, Inc		591
	7,363	*	Lannett Co, Inc		74
	154,334	*	Lexicon Pharmaceuticals, Inc		336
	134,970	*	Life Technologies Corp		8,723

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,627	*	Ligand Pharmaceuticals, Inc (Class B)	$	390
	31,134	*	Luminex Corp		514
	86,613	*,e	MannKind Corp		294
	16,427		Maxygen, Inc		40
	41,466	*	Medicines Co		1,386
	55,068	*	Medivation, Inc		2,576
	2,320,796		Merck & Co, Inc		102,649
	11,316	*,e	Merrimack Pharmaceuticals, Inc		69
	23,661	*	Mettler-Toledo International, Inc		5,045
	34,069	*	Momenta Pharmaceuticals, Inc		454
	307,260	*	Mylan Laboratories, Inc		8,892
	65,398	*	Myriad Genetics, Inc		1,661
	87,448	*	Nektar Therapeutics		962
	51,178	*	Neurocrine Biosciences, Inc		621
	9,891	*,e	NewLink Genetics Corp		121
	9,215	*,e	Novacea, Inc		44
	69,550	*,e	Novavax, Inc		159
	62,195	*	NPS Pharmaceuticals, Inc		634
	12,855	*	Obagi Medical Products, Inc		254
	17,474	*,e	Omeros Corp		72
	7,745	*,e	OncoGenex Pharmaceutical, Inc		88
	43,574	*,e	Oncothyreon, Inc		91
	54,632	*	Onyx Pharmaceuticals, Inc		4,855
	90,703	*,e	Opko Health, Inc		692
	38,666	*,e	Optimer Pharmaceuticals, Inc		460
	77,270	*,e	Orexigen Therapeutics, Inc		483
	12,630	*,e	Osiris Therapeutics, Inc		131
	26,111	*	Pacific Biosciences of California, Inc		65
	14,382	*,e	Pacira Pharmaceuticals, Inc		415
	24,948		Pain Therapeutics, Inc		86
	46,620	*	Parexel International Corp		1,842
	106,509	e	PDL BioPharma, Inc		779
	86,372		PerkinElmer, Inc		2,906
	71,263		Perrigo Co		8,461
	5,713,579		Pfizer, Inc		164,894
	40,941	*	Pharmacyclics, Inc		3,292
	15,548	*	Pozen, Inc		82
	22,810	*	Progenics Pharmaceuticals, Inc		123
	178,940	*	Qiagen N.V. (NASDAQ)		3,772
	40,523	e	Questcor Pharmaceuticals, Inc		1,319
	37,364	*,e	Raptor Pharmaceutical Corp		219
	59,107	*	Regeneron Pharmaceuticals, Inc		10,426
	23,464	*	Repligen Corp		162
	11,221	*,e	Repros Therapeutics, Inc		181
	66,996	*	Rigel Pharmaceuticals, Inc		455
	5,222	*	Sagent Pharmaceuticals		92
	44,827	*	Salix Pharmaceuticals Ltd		2,294
	45,925	*,e	Sangamo Biosciences, Inc		439
	63,120	*	Santarus, Inc		1,094
	43,039	*	Sciclone Pharmaceuticals, Inc		198
	72,220	*,e	Seattle Genetics, Inc		2,565
	87,069	*,e	Sequenom, Inc		361

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	26,901	*,e	SIGA Technologies, Inc	$	96
	47,540	e	Spectrum Pharmaceuticals, Inc		355
	6,322	*	Sucampo Pharmaceuticals, Inc (Class A)		41
	21,433	*,e	Sunesis Pharmaceuticals, Inc		117
	8,501	*	Synageva BioPharma Corp		467
	31,480	*,e	Synergy Pharmaceuticals, Inc		191
	28,613	*,e	Synta Pharmaceuticals Corp		246
	21,017	*	Targacept, Inc		90
	28,521		Techne Corp		1,935
	49,146	*,e	Theravance, Inc		1,161
	278,999		Thermo Electron Corp		21,341
	34,985	*,e	Threshold Pharmaceuticals, Inc		161
	18,970	*	Trius Therapeutics, Inc		130
	39,384	*	United Therapeutics Corp		2,397
	26,661	*	Vanda Pharmaceuticals, Inc		104
	9,108	*,e	Ventrus Biosciences, Inc		27
	4,381	*,e	Verastem, Inc		42
	161,189	*	Vertex Pharmaceuticals, Inc		8,862
	72,979	*,e	Vical, Inc		290
	54,700	*	Viropharma, Inc		1,376
	74,791	*,e	Vivus, Inc		823
	128,177		Warner Chilcott plc		1,737
	67,745	*	Waters Corp		6,362
	33,276	*	Xenoport, Inc		238
	51,247	*	XOMA Corp		179
	54,772	*,e	ZIOPHARM Oncology, Inc		100
	75,700	*	Zoetis Inc		2,528
	29,473	*,e	Zogenix, Inc		53
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,038,370
REAL ESTATE - 3.7%
	38,440		Acadia Realty Trust		1,067
	11,872		AG Mortgage Investment Trust		302
	10,360		Agree Realty Corp		312
	30,756	*	Alexander & Baldwin, Inc		1,100
	1,574		Alexander’s, Inc		519
	47,428		Alexandria Real Estate Equities, Inc		3,366
	24,259		American Assets Trust,Inc		777
	78,430		American Campus Communities, Inc		3,556
	300,512		American Capital Agency Corp		9,851
	44,879		American Capital Mortgage, Inc		1,160
	300,604		American Tower Corp		23,122
	745,034		Annaly Capital Management, Inc		11,839
	104,198		Anworth Mortgage Asset Corp		660
	109,048		Apartment Investment & Management Co (Class A)		3,343
	44,300		Apollo Commercial Real Estate Finance, Inc		779
	5,944		Ares Commercial Real Estate Corp		101
	284,835	*	ARMOUR Residential REIT, Inc		1,860
	45,071		Ashford Hospitality Trust, Inc		557
	38,683		Associated Estates Realty Corp		721
	7,072	*	AV Homes, Inc		94
	86,799		AvalonBay Communities, Inc		10,995

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	116,685		BioMed Realty Trust, Inc	$	2,520
	114,441		Boston Properties, Inc		11,565
	109,374		Brandywine Realty Trust		1,624
	58,646		BRE Properties, Inc (Class A)		2,855
	64,335		Camden Property Trust		4,419
	30,900		Campus Crest Communities, Inc		430
	54,804		Capital Lease Funding, Inc		349
	75,421		Capstead Mortgage Corp		967
	113,740		CBL & Associates Properties, Inc		2,684
	250,372	*	CBRE Group, Inc		6,322
	62,638		Cedar Shopping Centers, Inc		383
	16,803		Chatham Lodging Trust		296
	37,072		Chesapeake Lodging Trust		850
	815,020		Chimera Investment Corp		2,600
	66,987		Colonial Properties Trust		1,515
	40,059		Colony Financial, Inc		889
	4,977		Consolidated-Tomoka Land Co		195
	15,000		Coresite Realty		525
	59,862		Corporate Office Properties Trust		1,597
	80,554		Cousins Properties, Inc		861
	51,575		CreXus Investment Corp		672
	93,780		CubeSmart		1,482
	14,500		CyrusOne, Inc		331
	135,056		CYS Investments, Inc		1,586
	189,300		DCT Industrial Trust, Inc		1,401
	181,233		DDR Corp		3,157
	131,313		DiamondRock Hospitality Co		1,223
	92,995		Digital Realty Trust, Inc		6,222
	105,519		Douglas Emmett, Inc		2,631
	244,327		Duke Realty Corp		4,149
	45,206		DuPont Fabros Technology, Inc		1,097
	41,887		Dynex Capital, Inc		447
	21,692		EastGroup Properties, Inc		1,262
	86,427		Education Realty Trust, Inc		910
	35,904		Entertainment Properties Trust		1,869
	31,491		Equity Lifestyle Properties, Inc		2,419
	40,925		Equity One, Inc		981
	246,171		Equity Residential		13,554
	26,875		Essex Property Trust, Inc		4,047
	35,324		Excel Trust, Inc		482
	83,827		Extra Space Storage, Inc		3,292
	48,343		Federal Realty Investment Trust		5,223
	102,427	*	FelCor Lodging Trust, Inc		609
	67,857		First Industrial Realty Trust, Inc		1,162
	38,591		First Potomac Realty Trust		572
	114,268	*	Forest City Enterprises, Inc (Class A)		2,031
	29,389	*	Forestar Real Estate Group, Inc		642
	56,329		Franklin Street Properties Corp		824
	402,501		General Growth Properties, Inc		8,002
	18,098		Getty Realty Corp		366
	6,667		Gladstone Commercial Corp		130
	106,365		Glimcher Realty Trust		1,234

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	40,458		Government Properties Income Trust	$	1,041
	57,383	*	Gramercy Capital Corp		299
	911		Gyrodyne Co of America, Inc		67
	71,728		Hatteras Financial Corp		1,968
	350,582		HCP, Inc		17,480
	200,939		Health Care REIT, Inc		13,646
	62,374		Healthcare Realty Trust, Inc		1,771
	131,578		Hersha Hospitality Trust		768
	59,890		Highwoods Properties, Inc		2,370
	38,983		Home Properties, Inc		2,472
	94,278		Hospitality Properties Trust		2,587
	549,227		Host Marriott Corp		9,606
	20,901	*	Howard Hughes Corp		1,752
	90,303		HRPT Properties Trust		2,026
	32,763		Hudson Pacific Properties		713
	64,150		Inland Real Estate Corp		647
	101,700		Invesco Mortgage Capital, Inc		2,175
	74,579		Investors Real Estate Trust		736
	71,105	*	iStar Financial, Inc		774
	8,100	*	JAVELIN Mortgage Investment Corp		159
	33,460		Jones Lang LaSalle, Inc		3,326
	32,889	e	Kennedy-Wilson Holdings, Inc		510
	57,116		Kilroy Realty Corp		2,993
	312,567		Kimco Realty Corp		7,002
	35,097		Kite Realty Group Trust		237
	72,768		LaSalle Hotel Properties		1,847
	87,513		Lexington Corporate Properties Trust		1,033
	78,913		Liberty Property Trust		3,137
	24,755		LTC Properties, Inc		1,008
	101,262		Macerich Co		6,519
	67,066		Mack-Cali Realty Corp		1,919
	102,587		Medical Properties Trust, Inc		1,646
	267,655		MFA Mortgage Investments, Inc		2,495
	31,305		Mid-America Apartment Communities, Inc		2,162
	31,123		Monmouth Real Estate Investment Corp (Class A)		347
	20,485		National Health Investors, Inc		1,341
	84,648		National Retail Properties, Inc		3,062
	37,651		New York Mortgage Trust, Inc		284
	147,483		NorthStar Realty Finance Corp		1,398
	40,122		NRDC Acquisition Corp		562
	85,217		Omega Healthcare Investors, Inc		2,587
	6,398		One Liberty Properties, Inc		139
	26,223		Parkway Properties, Inc		486
	40,071		Pebblebrook Hotel Trust		1,033
	45,188		Pennsylvania Real Estate Investment Trust		876
	45,080		Pennymac Mortgage Investment Trust		1,167
	130,905		Piedmont Office Realty Trust, Inc		2,564
	123,533		Plum Creek Timber Co, Inc		6,448
	41,348		Post Properties, Inc		1,947
	30,874		Potlatch Corp		1,416
	351,224		Prologis, Inc		14,042
	14,049		PS Business Parks, Inc		1,109

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	108,820		Public Storage, Inc	$	16,575
	91,723		RAIT Investment Trust		731
	59,102		Ramco-Gershenson Properties		993
	93,415		Rayonier, Inc		5,574
	37,300	*	Realogy Holdings Corp		1,822
	139,848		Realty Income Corp		6,342
	60,300		Redwood Trust, Inc		1,398
	69,743		Regency Centers Corp		3,690
	83,706		Resource Capital Corp		553
	68,579		Retail Properties of America, Inc		1,015
	81,349		RLJ Lodging Trust		1,852
	16,171		Rouse Properties, Inc		293
	24,008		Ryman Hospitality Properties		1,098
	28,029		Sabra Healthcare REIT, Inc		813
	6,582		Saul Centers, Inc		288
	6,836		Select Income REIT		181
	143,050		Senior Housing Properties Trust		3,838
	24,873		Silver Bay Realty Trust Corp		515
	231,353		Simon Property Group, Inc		36,683
	68,406		SL Green Realty Corp		5,890
	21,282		Sovran Self Storage, Inc		1,372
	25,300		Spirit Realty Capital, Inc		481
	49,920	*,e	St. Joe Co		1,061
	33,698		STAG Industrial, Inc		717
	102,626		Starwood Property Trust, Inc		2,849
	134,064	*	Strategic Hotels & Resorts, Inc		1,119
	22,677		Summit Hotel Properties, Inc		237
	31,744		Sun Communities, Inc		1,566
	123,458	*	Sunstone Hotel Investors, Inc		1,520
	70,595		Tanger Factory Outlet Centers, Inc		2,554
	44,830		Taubman Centers, Inc		3,482
	11,747	*	Tejon Ranch Co		350
	10,412		Terreno Realty Corp		187
	24,399	e	Thomas Properties Group, Inc		125
	271,189		Two Harbors Investment Corp		3,420
	188,706		UDR, Inc		4,565
	6,794		UMH Properties, Inc		70
	10,285		Universal Health Realty Income Trust		594
	19,529		Urstadt Biddle Properties, Inc (Class A)		425
	220,633		Ventas, Inc		16,150
	141,093		Vornado Realty Trust		11,801
	49,089		Washington Real Estate Investment Trust		1,367
	92,487		Weingarten Realty Investors		2,918
	20,974		Western Asset Mortgage Capital Corp		487
	407,759		Weyerhaeuser Co		12,795
	16,873		Whitestone REIT		255
	24,416		Winthrop Realty Trust		307
	4,300	*	ZAIS Financial Corp		89
	3,100	*,e	Zillow, Inc		169
			TOTAL REAL ESTATE		496,411

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
RETAILING - 4.2%
	14,742	*	1-800-FLOWERS.COM, Inc (Class A)	$	73
	56,578		Aaron’s, Inc		1,623
	64,852		Abercrombie & Fitch Co (Class A)		2,996
	56,159		Advance Auto Parts, Inc		4,642
	61,843	*	Aeropostale, Inc		841
	275,973	*	Amazon.com, Inc		73,544
	149,222		American Eagle Outfitters, Inc		2,790
	6,968	*	America’s Car-Mart, Inc		326
	37,641	*	Ann Taylor Stores Corp		1,092
	19,614	*	Asbury Automotive Group, Inc		720
	91,526	*	Ascena Retail Group, Inc		1,698
	10,900	*	Audiovox Corp (Class A)		117
	26,872	*	Autonation, Inc		1,176
	27,604	*	Autozone, Inc		10,952
	23,047	*,e	Barnes & Noble, Inc		379
	23,033		Bebe Stores, Inc		96
	177,057	*	Bed Bath & Beyond, Inc		11,406
	207,694		Best Buy Co, Inc		4,600
	15,894		Big 5 Sporting Goods Corp		248
	45,422	*	Big Lots, Inc		1,602
	10,661	*,e	Blue Nile, Inc		367
	8,762	*	Body Central Corp		82
	9,116	e	Bon-Ton Stores, Inc		119
	32,106		Brown Shoe Co, Inc		514
	21,122	e	Buckle, Inc		985
	34,762	*	Cabela’s, Inc		2,113
	3,823	*,e	CafePress, Inc		23
	173,276	*	Carmax, Inc		7,226
	21,208		Cato Corp (Class A)		512
	126,133		Chico’s FAS, Inc		2,119
	18,517	*	Children’s Place Retail Stores, Inc		830
	12,866	*	Citi Trends, Inc		132
	12,208	*,e	Conn’s, Inc		438
	8,334		Core-Mark Holding Co, Inc		428
	10,433		Destination Maternity Corp		244
	32,976	*	Destination XL Group, Inc		168
	71,204		Dick’s Sporting Goods, Inc		3,368
	22,481		Dillard’s, Inc (Class A)		1,766
	140,673	*	Dollar General Corp		7,115
	176,396	*	Dollar Tree, Inc		8,543
	25,085		DSW, Inc (Class A)		1,600
	66,797		Expedia, Inc		4,008
	67,925	*	Express Parent LLC		1,210
	73,974		Family Dollar Stores, Inc		4,368
	39,004		Finish Line, Inc (Class A)		764
	8,200	*,e	Five Below, Inc		311
	115,838		Foot Locker, Inc		3,966
	26,617	*,e	Francesca’s Holdings Corp		763
	29,664		Fred’s, Inc (Class A)		406
	95,132	e	GameStop Corp (Class A)		2,661
	231,166		Gap, Inc		8,183
	18,687	*	Genesco, Inc		1,123

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	118,350		Genuine Parts Co	$	9,231
	51,477		GNC Holdings, Inc		2,022
	3,931	*	Gordmans Stores, Inc		46
	17,052	e	Group 1 Automotive, Inc		1,024
	30,800	*,e	Groupon, Inc		189
	47,951		Guess?, Inc		1,191
	16,062		Haverty Furniture Cos, Inc		330
	13,509	*,e	HHgregg, Inc		149
	20,590	*	Hibbett Sports, Inc		1,159
	1,167,914		Home Depot, Inc		81,497
	24,363	*,e	HomeAway, Inc		792
	36,184		Hot Topic, Inc		502
	28,823		HSN, Inc		1,581
	121,911	e	JC Penney Co, Inc		1,842
	21,133	*,e	Jos A Bank Clothiers, Inc		843
	2,600	*	Kayak Software Corporation		104
	13,001	*	Kirkland’s, Inc		149
	174,131		Kohl’s Corp		8,033
	182,518		L Brands, Inc		8,151
	426,539	*	Liberty Media Holding Corp (Interactive A)		9,119
	28,435	*	Liberty Ventures		2,149
	16,330		Lithia Motors, Inc (Class A)		775
	225,192	*	LKQ Corp		4,900
	856,743		Lowe’s Companies, Inc		32,488
	21,092	*,e	Lumber Liquidators, Inc		1,481
	295,537		Macy’s, Inc		12,365
	16,477	*	MarineMax, Inc		224
	8,386	*,e	Mattress Firm Holding Corp		290
	39,013		Men’s Wearhouse, Inc		1,304
	22,581	e	Monro Muffler, Inc		897
	42,634	*	NetFlix, Inc		8,075
	13,306	*	New York & Co, Inc		54
	118,777		Nordstrom, Inc		6,560
	20,499		Nutri/System, Inc		174
	212,310	*,e	Office Depot, Inc		834
	64,982	e	OfficeMax, Inc		754
	23,547	*,e	Orbitz Worldwide, Inc		134
	1,270	*,e	Orchard Supply Hardware Stores Corp		5
	85,495	*	O’Reilly Automotive, Inc		8,768
	11,517	*,e	Overstock.com, Inc		142
	30,900		Penske Auto Group, Inc		1,031
	37,199	*	PEP Boys - Manny Moe & Jack		439
	15,450	e	PetMed Express, Inc		207
	81,980		Petsmart, Inc		5,091
	73,840		Pier 1 Imports, Inc		1,698
	38,016	*	Priceline.com, Inc		26,152
	78,808	e	RadioShack Corp		265
	45,460		Rent-A-Center, Inc		1,679
	4,200	*,e	Restoration Hardware Holdings, Inc		147
	171,417		Ross Stores, Inc		10,391
	11,225	*	Rue21, Inc		330
	85,217	*,e	Saks, Inc		977

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	116,447	*	Sally Beauty Holdings, Inc	$	3,421
	27,674	*,e	Sears Holdings Corp		1,383
	3,500	*	Sears Hometown and Outlet Stores, Inc		141
	42,172	*	Select Comfort Corp		834
	10,447		Shoe Carnival, Inc		214
	27,118	*	Shutterfly, Inc		1,198
	63,700		Signet Jewelers Ltd		4,268
	29,758		Sonic Automotive, Inc (Class A)		659
	3,181	*	Sourceforge, Inc		47
	26,435		Stage Stores, Inc		684
	521,258		Staples, Inc		7,001
	17,973		Stein Mart, Inc		151
	9,938		Systemax, Inc		98
	504,599		Target Corp		34,540
	95,885		Tiffany & Co		6,668
	6,790	*	Tilly’s, Inc		86
	565,281		TJX Companies, Inc		26,427
	55,099		Tractor Supply Co		5,737
	66,371	*	TripAdvisor, Inc		3,486
	21,617	*	Tuesday Morning Corp		168
	48,024		Ulta Salon Cosmetics & Fragrance, Inc		3,898
	81,376	*	Urban Outfitters, Inc		3,153
	9,604	*	US Auto Parts Network, Inc		12
	16,534	*,e	Vitacost.com, Inc		120
	22,533	*	Vitamin Shoppe, Inc		1,101
	11,292	*	West Marine, Inc		129
	73,584	*	Wet Seal, Inc (Class A)		222
	29,100	*	WEX, Inc		2,284
	66,787		Williams-Sonoma, Inc		3,441
	1,945		Winmark Corp		123
	17,544	*,e	Zumiez, Inc		402
			TOTAL RETAILING		558,206
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.1%
	29,482	*	Advanced Energy Industries, Inc		539
	477,360	*,e	Advanced Micro Devices, Inc		1,217
	11,245	*	Alpha & Omega Semiconductor Ltd		100
	244,761		Altera Corp		8,682
	4,600	*	Ambarella, Inc		72
	73,037	*,e	Amkor Technology, Inc		292
	47,982	*	Anadigics, Inc		96
	225,100		Analog Devices, Inc		10,465
	913,817		Applied Materials, Inc		12,318
	51,846	*	Applied Micro Circuits Corp		385
	330,760	*	Atmel Corp		2,302
	24,963	*	ATMI, Inc		560
	183,074		Avago Technologies Ltd		6,576
	61,290	*	Axcelis Technologies, Inc		77
	23,951	*	AXT, Inc		70
	418,912		Broadcom Corp (Class A)		14,524
	52,087		Brooks Automation, Inc		530
	17,924		Cabot Microelectronics Corp		623

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	36,308	*	Cavium Networks, Inc	$	1,409
	18,075	*	Ceva, Inc		282
	47,684	*	Cirrus Logic, Inc		1,085
	15,857		Cohu, Inc		148
	88,620	*,e	Cree, Inc		4,848
	23,525	*	Cymer, Inc		2,261
	122,394	e	Cypress Semiconductor Corp		1,350
	28,713	*	Diodes, Inc		602
	21,955	*	DSP Group, Inc		177
	105,554	*	Entegris, Inc		1,041
	59,143	*,e	Entropic Communications, Inc		241
	25,111	*	Exar Corp		264
	95,996	*	Fairchild Semiconductor International, Inc		1,357
	44,208	*,e	First Solar, Inc		1,192
	34,973	*	Formfactor, Inc		164
	38,914	*,e	Freescale Semiconductor Holdings Ltd		579
	13,134	*	GSI Technology, Inc		87
	94,807	*,e	GT Solar International, Inc		312
	23,480	*	Hittite Microwave Corp		1,422
	15,509	*	Inphi Corp		162
	110,719	*	Integrated Device Technology, Inc		827
	19,660	*	Integrated Silicon Solution, Inc		180
	3,838,675		Intel Corp		83,875
	10,099	*	Intermolecular, Inc		103
	54,670	*	International Rectifier Corp		1,156
	94,162		Intersil Corp (Class A)		820
	16,725		IXYS Corp		160
	126,707		Kla-Tencor Corp		6,683
	50,517	*	Kopin Corp		187
	131,084	*	Lam Research Corp		5,435
	90,159	*	Lattice Semiconductor Corp		491
	175,647		Linear Technology Corp		6,740
	432,590	*	LSI Logic Corp		2,933
	37,527	*	LTX-Credence Corp		227
	4,431	*	MA-COM Technology Solutions		71
	358,491		Marvell Technology Group Ltd		3,793
	44,020	*	Mattson Technology, Inc		61
	222,922		Maxim Integrated Products, Inc		7,278
	12,640	*	MaxLinear, Inc		78
	172,909	*	MEMC Electronic Materials, Inc		761
	40,439		Micrel, Inc		425
	147,635	e	Microchip Technology, Inc		5,427
	756,136	*	Micron Technology, Inc		7,546
	65,939	*	Microsemi Corp		1,528
	24,281	*,e	Mindspeed Technologies, Inc		81
	38,788		MKS Instruments, Inc		1,055
	21,310		Monolithic Power Systems, Inc		519
	20,301	*	MoSys, Inc		96
	18,167	*	Nanometrics, Inc		262
	6,600	*	NeoPhotonics Corp Ltd		34
	3,184	*	NVE Corp		180
	472,164		Nvidia Corp		6,053

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	42,750	*	Omnivision Technologies, Inc	$	589
	346,536	*	ON Semiconductor Corp		2,869
	17,237	*	PDF Solutions, Inc		276
	4,800	*,e	Peregrine Semiconductor Corp		47
	19,298	*	Pericom Semiconductor Corp		131
	46,544	*	Photronics, Inc		311
	26,715	*	PLX Technology, Inc		122
	157,538	*	PMC - Sierra, Inc		1,070
	22,028		Power Integrations, Inc		956
	29,857	*,e	QuickLogic Corp		73
	84,186	*	Rambus, Inc		472
	209,504	*	RF Micro Devices, Inc		1,115
	11,027	*,e	Rubicon Technology, Inc		73
	20,900	*	Rudolph Technologies, Inc		246
	50,038	*	Semtech Corp		1,771
	27,850	*	Sigma Designs, Inc		136
	56,384	*	Silicon Image, Inc		274
	32,688	*	Silicon Laboratories, Inc		1,352
	143,829	*	Skyworks Solutions, Inc		3,169
	38,295	*	Spansion, Inc		493
	21,697	*	STR Holdings, Inc		47
	35,781	*,e	SunPower Corp		413
	8,595		Supertex, Inc		191
	142,774	*,e	Teradyne, Inc		2,316
	36,930		Tessera Technologies, Inc		692
	873,075		Texas Instruments, Inc		30,977
	121,131	*	Triquint Semiconductor, Inc		612
	17,159	*	Ultra Clean Holdings		112
	18,851	*	Ultratech, Inc		745
	31,233	*,e	Veeco Instruments, Inc		1,197
	18,190	*	Volterra Semiconductor Corp		258
	199,973		Xilinx, Inc		7,633
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		284,214
SOFTWARE & SERVICES - 9.2%
	38,595	*	Accelrys, Inc		377
	490,979		Accenture plc		37,300
	30,248	*	ACI Worldwide, Inc		1,478
	29,457	*,e	Active Network, Inc		123
	323,808		Activision Blizzard, Inc		4,718
	40,528	*	Actuate Corp		243
	62,110	*	Acxiom Corp		1,267
	377,977	*	Adobe Systems, Inc		16,446
	24,736	*	Advent Software, Inc		692
	135,875	*	Akamai Technologies, Inc		4,795
	38,484	*,e	Alliance Data Systems Corp		6,230
	126,471		Amdocs Ltd		4,585
	15,720		American Software, Inc (Class A)		131
	27,450	*,e	Angie’s List, Inc		542
	70,483	*	Ansys, Inc		5,739
	58,241		AOL, Inc		2,242
	71,278	*	Aspen Technology, Inc		2,302

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	176,236	*	Autodesk, Inc	$	7,268
	373,900		Automatic Data Processing, Inc		24,311
	7,000	*,e	AVG Technologies NV		97
	35,339	*	Bankrate, Inc		422
	8,300	*,e	Bazaarvoice, Inc		61
	35,258		Blackbaud, Inc		1,045
	30,473	*	Blucora, Inc		472
	109,423	*	BMC Software, Inc		5,070
	16,977		Booz Allen Hamilton Holding Co		228
	27,849	*	Bottomline Technologies, Inc		794
	4,700	*,e	Brightcove, Inc		29
	95,422		Broadridge Financial Solutions, Inc		2,370
	20,308	*,e	BroadSoft, Inc		538
	270,649		CA, Inc		6,812
	17,259	*	CACI International, Inc (Class A)		999
	209,812	*	Cadence Design Systems, Inc		2,923
	23,561	*,e	Callidus Software, Inc		108
	8,488	*,e	Carbonite, Inc		93
	32,719	*	Cardtronics, Inc		898
	7,744		Cass Information Systems, Inc		326
	52,926	*	Ciber, Inc		249
	141,233	*	Citrix Systems, Inc		10,191
	10,743	*,m	Clinical Data, Inc		10
	232,643	*	Cognizant Technology Solutions Corp (Class A)		17,823
	33,451	*	Commvault Systems, Inc		2,742
	118,719		Computer Sciences Corp		5,845
	11,045		Computer Task Group, Inc		236
	163,806	*	Compuware Corp		2,048
	24,577	*	comScore, Inc		412
	16,654	*	Comverse, Inc		467
	34,178	*,e	Concur Technologies, Inc		2,347
	21,930	*,e	Constant Contact, Inc		285
	89,018		Convergys Corp		1,516
	25,908	*	Cornerstone OnDemand, Inc		883
	21,333	*	CoStar Group, Inc		2,335
	28,626	*	CSG Systems International, Inc		607
	32,566	*	DealerTrack Holdings, Inc		957
	22,760	*,e	Demand Media, Inc		196
	5,143	*,e	Demandware, Inc		130
	37,330	*	Dice Holdings, Inc		378
	29,296	*	Digital River, Inc		414
	5,437		DMRC Corp		119
	26,145		DST Systems, Inc		1,863
	4,700	*	E2open, Inc		94
	82,942		Earthlink, Inc		450
	885,108	*	eBay, Inc		47,991
	23,473	e	Ebix, Inc		381
	240,297	*	Electronic Arts, Inc		4,253
	20,207	*	Ellie Mae, Inc		486
	15,051	*	Envestnet, Inc		264
	5,877	*,e	Envivio, Inc		10
	4,600	*	EPAM Systems, Inc		107

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	25,591		EPIQ Systems, Inc	$	359
	2,603		ePlus, Inc		120
	36,582	*	Equinix, Inc		7,913
	36,402	*	Euronet Worldwide, Inc		959
	7,315	*	ExactTarget, Inc		170
	17,988	*	ExlService Holdings, Inc		591
	321,719	*	Facebook, Inc		8,230
	33,665	e	Factset Research Systems, Inc		3,117
	26,950		Fair Isaac Corp		1,231
	22,225	*	FalconStor Software, Inc		60
	191,511		Fidelity National Information Services, Inc		7,588
	74,117	*	First American Corp		1,917
	103,750	*	Fiserv, Inc		9,112
	37,123	*	FleetCor Technologies, Inc		2,846
	6,900	*,e	FleetMatics Group plc		167
	11,266		Forrester Research, Inc		357
	99,834	*	Fortinet, Inc		2,364
	71,116	*	Gartner, Inc		3,869
	96,351		Genpact Ltd		1,753
	19,206	*,e,m	Gerber Scientific, Inc		0	^
	51,313	*	Global Cash Access, Inc		362
	60,916		Global Payments, Inc		3,025
	49,882	*,e	Glu Mobile, Inc		149
	197,459	*	Google, Inc (Class A)		156,788
	9,927	*	Guidance Software, Inc		108
	14,724	*	Guidewire Software, Inc		566
	30,102		Hackett Group, Inc		138
	28,656		Heartland Payment Systems, Inc		945
	23,633	*,e	Higher One Holdings, Inc		210
	60,507		IAC/InterActiveCorp		2,703
	23,666	*	iGate Corp		445
	7,359	*	Imperva, Inc		283
	5,964	*	Infoblox, Inc		129
	82,708	*	Informatica Corp		2,851
	16,757	*	Innodata Isogen, Inc		58
	11,116	*	Interactive Intelligence, Inc		493
	34,783	*	Internap Network Services Corp		325
	831,644		International Business Machines Corp		177,390
	223,669		Intuit, Inc		14,684
	41,039	*	Ipass, Inc		81
	34,679	e	j2 Global, Inc		1,360
	66,573		Jack Henry & Associates, Inc		3,076
	11,700	*,e	Jive Software, Inc		178
	10,875		Keynote Systems, Inc		152
	19,259	*	Knot, Inc		193
	65,087		Lender Processing Services, Inc		1,657
	50,961	*,e	Limelight Networks, Inc		105
	49,763	*	LinkedIn Corp		8,761
	44,720	*	Lionbridge Technologies		173
	17,773	*,e	Liquidity Services, Inc		530
	40,701	*	Liveperson, Inc		553
	15,508	*	LogMeIn, Inc		298

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,258	*,e	magicJack VocalTec Ltd	$	158
	15,963	*	Manhattan Associates, Inc		1,186
	18,418	e	Mantech International Corp (Class A)		495
	16,386		Marchex, Inc (Class B)		69
	17,156	*	Market Leader, Inc		154
	82,794		Mastercard, Inc (Class A)		44,802
	7,271	*,e	Mattersight Corp		31
	25,522		MAXIMUS, Inc		2,041
	23,100	*,e	MeetMe, Inc		53
	73,403		Mentor Graphics Corp		1,325
	60,589	*	Micros Systems, Inc		2,757
	5,743,299		Microsoft Corp		164,316
	6,468	*	MicroStrategy, Inc (Class A)		654
	8,300	*,e	Millennial Media, Inc		53
	33,165	*	ModusLink Global Solutions, Inc		109
	16,742	*	MoneyGram International, Inc		303
	27,277		Monotype Imaging Holdings, Inc		648
	81,230	*,e	Monster Worldwide, Inc		412
	29,335	*	Move, Inc		351
	28,739	*	Netscout Systems, Inc		706
	23,872	*	NetSuite, Inc		1,911
	51,981	*	NeuStar, Inc (Class A)		2,419
	48,579		NIC, Inc		931
	184,404	*	Nuance Communications, Inc		3,721
	17,950	*,e	OpenTable, Inc		1,130
	2,915,296		Oracle Corp		94,281
	247,264		Paychex, Inc		8,672
	12,459		Pegasystems, Inc		350
	20,679	*	Perficient, Inc		241
	9,472	*	Pervasive Software, Inc		87
	14,513	*	PRG-Schultz International, Inc		101
	50,287	*	Progress Software Corp		1,146
	4,536	*	Proofpoint, Inc		76
	14,689	*	PROS Holdings, Inc		399
	90,859	*	PTC, Inc		2,316
	3,320		QAD, Inc (Class A)		43
	65,002	*	QLIK Technologies, Inc		1,679
	20,643	*	QuinStreet, Inc		123
	83,238	*	Rackspace Hosting, Inc		4,202
	18,038		RealNetworks, Inc		139
	27,469	*,e	RealPage, Inc		569
	147,339	*	Red Hat, Inc		7,449
	27,251	*	Responsys, Inc		241
	8,173	*	Rosetta Stone, Inc		126
	85,331	*	Rovi Corp		1,827
	18,173	*	Saba Software, Inc		144
	217,031	e	SAIC, Inc		2,941
	111,502	*	Salesforce.com, Inc		19,940
	93,643		Sapient Corp		1,141
	13,766	*	Sciquest, Inc		331
	21,571	*	Seachange International, Inc		256
	10,800	*,e	ServiceNow, Inc		391

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	38,121	*,e	ServiceSource International LLC	$	269
	46,540	*	SolarWinds, Inc		2,750
	53,861		Solera Holdings, Inc		3,142
	22,394	*,e	Sourcefire, Inc		1,326
	8,175	*,e	Spark Networks, Inc		58
	11,818	*	Splunk, Inc		473
	8,010	*	SPS Commerce, Inc		342
	25,703	*	SS&C Technologies Holdings, Inc		771
	12,380	*	Stamps.com, Inc		309
	32,388	*	SupportSoft, Inc		135
	31,978	*	SYKES Enterprises, Inc		510
	549,914	*	Symantec Corp		13,572
	5,117	*,e	Synacor, Inc		15
	20,217	*	Synchronoss Technologies, Inc		627
	111,201	*	Synopsys, Inc		3,990
	11,627		Syntel, Inc		785
	24,737	*	TA Indigo Holding Corp		157
	59,506	*	Take-Two Interactive Software, Inc		961
	23,016	*	Tangoe, Inc		285
	4,323	*	TechTarget, Inc		21
	12,644	*	TeleNav, Inc		82
	19,317	*	TeleTech Holdings, Inc		410
	128,452	*	Teradata Corp		7,516
	124,754	*	TIBCO Software, Inc		2,522
	92,801	*	TiVo, Inc		1,150
	121,982		Total System Services, Inc		3,023
	4,369	*,e	Travelzoo, Inc		93
	5,200	*	Trulia, Inc		163
	24,748	*	Tyler Technologies, Inc		1,516
	20,377	*	Ultimate Software Group, Inc		2,122
	32,818	*	Unisys Corp		747
	61,183		United Online, Inc		369
	63,876	*	Unwired Planet, Inc		142
	57,076	*	Valueclick, Inc		1,687
	30,006	*	Vantiv, Inc		712
	19,828	*	Vasco Data Security International		167
	82,056	*	VeriFone Systems, Inc		1,697
	38,056	*	Verint Systems, Inc		1,391
	119,458		VeriSign, Inc		5,648
	32,131	*,e	VirnetX Holding Corp		616
	11,849	*	Virtusa Corp		281
	399,076		Visa, Inc (Class A)		67,779
	26,079	*,e	VistaPrint Ltd		1,008
	67,563	*	VMware, Inc (Class A)		5,329
	15,521	*	Vocus, Inc		220
	41,422	*	WebMD Health Corp (Class A)		1,007
	29,640	*	Websense, Inc		445
	26,004	*	Website Pros, Inc		444
	467,450		Western Union Co		7,030
	19,300	*,e	Workday, Inc		1,189
	3,600	*	Xoom Corp		82
	849,058	*	Yahoo!, Inc		19,978

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	6,421	*,e	Yelp, Inc	$	152
	47,197	*	Zix Corp		169
	120,900	*,e	Zynga, Inc		406
			TOTAL SOFTWARE & SERVICES		1,229,391
TECHNOLOGY HARDWARE & EQUIPMENT - 5.8%
	53,705	*,e	3D Systems Corp		1,731
	44,402	*	Acme Packet, Inc		1,297
	49,633	e	Adtran, Inc		975
	18,766	*	Agilysys, Inc		187
	122,415		Amphenol Corp (Class A)		9,138
	14,600	*	Anaren, Inc		283
	21,570		Anixter International, Inc		1,508
	713,496		Apple, Inc		315,815
	85,446	*	Arris Group, Inc		1,467
	85,185	*	Arrow Electronics, Inc		3,460
	85,572	*,e	Aruba Networks, Inc		2,117
	4,841	*	Audience, Inc		74
	24,879	*	Avid Technology, Inc		156
	110,749	*	Avnet, Inc		4,009
	34,410		AVX Corp		409
	9,650		Aware, Inc		45
	15,077	*	AX Holding Corp		119
	13,564		Badger Meter, Inc		726
	7,316		Bel Fuse, Inc (Class B)		114
	46,204	*	Benchmark Electronics, Inc		833
	13,787		Black Box Corp		301
	52,612	*,e	Bookham, Inc		66
	350,572	*	Brocade Communications Systems, Inc		2,023
	21,514	*	CalAmp Corp		236
	28,887	*	Calix Networks, Inc		235
	30,668	*	Checkpoint Systems, Inc		401
	75,431	*	Ciena Corp		1,208
	4,087,337		Cisco Systems, Inc		85,466
	32,766		Cognex Corp		1,381
	19,403		Coherent, Inc		1,101
	19,075		Comtech Telecommunications Corp		463
	1,151,807		Corning, Inc		15,354
	28,033	*	Cray, Inc		651
	23,637		CTS Corp		247
	22,322		Daktronics, Inc		234
	11,133	*	Datalink Corp		134
	1,125,029		Dell, Inc		16,122
	47,853		Diebold, Inc		1,451
	18,652	*	Digi International, Inc		167
	37,272	e	Dolby Laboratories, Inc (Class A)		1,251
	16,172	*	DTS, Inc		269
	24,998	*	Echelon Corp		61
	28,785	*	EchoStar Corp (Class A)		1,122
	11,677		Electro Rent Corp		216
	17,062		Electro Scientific Industries, Inc		189
	39,428	*	Electronics for Imaging, Inc		1,000

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	1,602,186	*	EMC Corp	$	38,276
	65,177	*	Emulex Corp		426
	89,895	*	Extreme Networks, Inc		303
	60,456	*	F5 Networks, Inc		5,385
	15,539	*	Fabrinet		227
	12,851	*	FARO Technologies, Inc		558
	29,895		FEI Co		1,930
	69,390	*,e	Finisar Corp		915
	118,407		Flir Systems, Inc		3,080
	51,681	*,e	Fusion-io, Inc		846
	14,375	*	Globecomm Systems, Inc		173
	20,123	*	GSI Group, Inc		172
	85,574	*	Harmonic, Inc		495
	86,732		Harris Corp		4,019
	42,057	*	Harris Stratex Networks, Inc (Class A)		142
	1,508,814		Hewlett-Packard Co		35,970
	21,588	*	Imation Corp		82
	18,659	*	Immersion Corp		219
	88,583	*,e	Infinera Corp		620
	116,956	*	Ingram Micro, Inc (Class A)		2,302
	34,716	*	Insight Enterprises, Inc		716
	32,759	e	InterDigital, Inc		1,567
	45,111	*	Intermec, Inc		443
	14,156	*	Intevac, Inc		67
	28,033	*,e	InvenSense, Inc		299
	24,446	e	IPG Photonics Corp		1,623
	31,091	*	Itron, Inc		1,443
	29,634	*	Ixia		641
	138,335		Jabil Circuit, Inc		2,556
	176,416	*	JDS Uniphase Corp		2,359
	399,985	*	Juniper Networks, Inc		7,416
	33,781	*	Kemet Corp		211
	7,812	*	Key Tronic Corp		90
	10,929	*	KVH Industries, Inc		148
	55,449	e	Lexmark International, Inc (Class A)		1,464
	17,104		Littelfuse, Inc		1,161
	8,072		Loral Space & Communications, Inc		499
	22,942	*	Maxwell Technologies, Inc		124
	11,532	*	Measurement Specialties, Inc		459
	23,128	*	Mercury Computer Systems, Inc		170
	1,988		Mesa Laboratories, Inc		105
	28,385		Methode Electronics, Inc		366
	104,638	e	Molex, Inc		3,064
	211,445		Motorola, Inc		13,539
	13,932		MTS Systems Corp		810
	9,079	*	Multi-Fineline Electronix, Inc		140
	69,482		National Instruments Corp		2,276
	122,276	*	NCR Corp		3,370
	17,608	*,e	Neonode, Inc		102
	275,823	*	NetApp, Inc		9,422
	28,803	*	Netgear, Inc		965
	27,910	*	Newport Corp		472

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,509	*	Numerex Corp	$	96
	58,785	*,e	OCZ Technology Group, Inc		106
	15,398	*	Oplink Communications, Inc		253
	14,702	*	OSI Systems, Inc		916
	5,100	*	Palo Alto Networks, Inc		289
	18,452		Park Electrochemical Corp		468
	56,204	*,e	Parkervision, Inc		206
	6,868		PC Connection, Inc		112
	13,367		PC-Tel, Inc		95
	31,900		Plantronics, Inc		1,410
	27,845	*	Plexus Corp		677
	135,032	*	Polycom, Inc		1,496
	53,353	*,e	Power-One, Inc		221
	16,952	*	Procera Networks, Inc		202
	79,841	*	QLogic Corp		926
	1,308,016		Qualcomm, Inc		87,572
	171,155	*	Quantum Corp		219
	25,143	*,e	Rackable Systems, Inc		346
	15,185	*	Radisys Corp		75
	37,752	*,e	RealD, Inc		491
	11,626		Richardson Electronics Ltd		138
	124,087	*	Riverbed Technology, Inc		1,850
	21,664	*	Rofin-Sinar Technologies, Inc		587
	12,342	*	Rogers Corp		588
	6,400	*,e	Ruckus Wireless, Inc		134
	185,881	*	SanDisk Corp		10,223
	61,646	*	Sanmina Corp		700
	22,159	*	Scansource, Inc		625
	31,292	*	ShoreTel, Inc		114
	165,491	*	Sonus Networks, Inc		429
	27,036	*,e	STEC, Inc		119
	23,369	*,e	Stratasys Ltd		1,734
	20,839	*	Super Micro Computer, Inc		235
	35,188	*	Symmetricom, Inc		160
	26,694	*	Synaptics, Inc		1,086
	19,931	*,e	SYNNEX Corp		737
	28,651	*	Tech Data Corp		1,307
	277,614		Tellabs, Inc		580
	12,947		Telular Corp		130
	3,883		Tessco Technologies, Inc		84
	188,100	*	Trimble Navigation Ltd		5,635
	41,884	*	TTM Technologies, Inc		318
	6,700	e	Ubiquiti Networks, Inc		92
	29,474	*,e	Universal Display Corp		866
	27,617	*,e	Viasat, Inc		1,338
	3,408	*	Viasystems Group, Inc		44
	100,754	*	Vishay Intertechnology, Inc		1,371
	9,508	*	Vishay Precision Group, Inc		140
	40,762	*	Westell Technologies, Inc		82
	168,604		Western Digital Corp		8,477
	967,952		Xerox Corp		8,324
	38,765	*	Zebra Technologies Corp (Class A)		1,827
	12,959	*	Zygo Corp		192
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		776,481

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
TELECOMMUNICATION SERVICES - 2.5%
	46,463	*	8x8, Inc	$	318
	4,199,794		AT&T, Inc		154,090
	7,918		Atlantic Tele-Network, Inc		384
	12,079	*	Boingo Wireless, Inc		67
	20,132	*	Cbeyond Communications, Inc		150
	475,088		CenturyTel, Inc		16,690
	149,815	*	Cincinnati Bell, Inc		488
	265,914	*	Clearwire Corp (Class A)		862
	35,274		Cogent Communications Group, Inc		931
	30,479	e	Consolidated Communications Holdings, Inc		535
	223,813	*	Crown Castle International Corp		15,586
	16,551	*,e	Fairpoint Communications, Inc		124
	762,890	e	Frontier Communications Corp		3,036
	38,028	*	General Communication, Inc (Class A)		349
	7,568	*	Hawaiian Telcom Holdco, Inc		175
	10,686		HickoryTech Corp		108
	10,513		IDT Corp (Class B)		127
	24,433	*	inContact, Inc		198
	33,317	*,e	Iridium Communications, Inc		201
	46,753	*,e	Leap Wireless International, Inc		275
	124,143	*	Level 3 Communications, Inc		2,519
	11,759		Lumos Networks Corp		159
	232,390	*	MetroPCS Communications, Inc		2,533
	25,073		Neutral Tandem, Inc		82
	128,973	*,e	NII Holdings, Inc (Class B)		558
	11,759		NTELOS Holdings Corp		151
	28,044	*	Orbcomm, Inc		146
	46,371	*	Premiere Global Services, Inc		510
	9,204	e	Primus Telecommunications Group, Inc		102
	92,557	*	SBA Communications Corp (Class A)		6,666
	18,151		Shenandoah Telecom Co		276
	2,283,335	*	Sprint Nextel Corp		14,179
	70,668		Telephone & Data Systems, Inc		1,489
	26,456	*,e	Towerstream Corp		59
	114,391	*	tw telecom inc (Class A)		2,881
	9,529	*	US Cellular Corp		343
	18,421		USA Mobility, Inc		244
	2,167,749		Verizon Communications, Inc		106,545
	119,221	*	Vonage Holdings Corp		345
	447,435	e	Windstream Corp		3,557
			TOTAL TELECOMMUNICATION SERVICES		338,038
TRANSPORTATION - 2.0%
	44,655	*	Air Transport Services Group, Inc		260
	54,416	*	Alaska Air Group, Inc		3,480
	12,124		Allegiant Travel Co		1,076
	6,173		Amerco, Inc		1,071
	19,331		Arkansas Best Corp		226

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,165	*	Atlas Air Worldwide Holdings, Inc	$	781
	79,295	*	Avis Budget Group, Inc		2,207
	16,346	*	Celadon Group, Inc		341
	123,834		CH Robinson Worldwide, Inc		7,363
	42,760		Con-Way, Inc		1,506
	24,978		Copa Holdings S.A. (Class A)		2,988
	792,834		CSX Corp		19,527
	648,035	*	Delta Air Lines, Inc		10,699
	11,118	*	Echo Global Logistics, Inc		246
	162,491		Expeditors International of Washington, Inc		5,802
	240,546		FedEx Corp		23,622
	22,919		Forward Air Corp		855
	20,776	*,e	Genco Shipping & Trading Ltd		60
	33,693	*	Genesee & Wyoming, Inc (Class A)		3,137
	40,654	*	Hawaiian Holdings, Inc		234
	38,365		Heartland Express, Inc		512
	185,631	*	Hertz Global Holdings, Inc		4,132
	28,105	*	Hub Group, Inc (Class A)		1,081
	4,290		International Shipholding Corp		78
	68,664		J.B. Hunt Transport Services, Inc		5,114
	181,414	*,e	JetBlue Airways Corp		1,252
	83,991		Kansas City Southern Industries, Inc		9,315
	42,550	*	Kirby Corp		3,268
	42,524		Knight Transportation, Inc		685
	35,888		Landstar System, Inc		2,049
	10,239		Marten Transport Ltd		206
	30,756		Matson, Inc		757
	248,674		Norfolk Southern Corp		19,168
	54,394	*	Old Dominion Freight Line		2,078
	31,042	*	Pacer International, Inc		156
	6,136	*	Park-Ohio Holdings Corp		203
	3,411	*	Patriot Transportation Holding, Inc		95
	16,337	*	Quality Distribution, Inc		137
	13,497	*,e	Rand Logistics, Inc		83
	40,702	*	Republic Airways Holdings, Inc		470
	13,212	*	Roadrunner Transportation Services Holdings, Inc		304
	39,335		Ryder System, Inc		2,350
	12,063	*	Saia, Inc		436
	40,260		Skywest, Inc		646
	575,021		Southwest Airlines Co		7,751
	31,863	*	Spirit Airlines, Inc		808
	60,697	*	Swift Transportation Co, Inc		861
	252,515	*	UAL Corp		8,083
	363,189		Union Pacific Corp		51,722
	553,070		United Parcel Service, Inc (Class B)		47,509
	3,884		Universal Truckload Services, Inc		91
	119,571	*,e	US Airways Group, Inc		2,029
	81,226		UTI Worldwide, Inc		1,176
	33,067		Werner Enterprises, Inc		798
	15,800	*	Wesco Aircraft Holdings, Inc		232
	13,238	*,e	XPO Logistics, Inc		223
			TOTAL TRANSPORTATION		261,339

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
UTILITIES - 3.5%
	489,737		AES Corp	$	6,156
	89,215		AGL Resources, Inc		3,743
	30,845		Allete, Inc		1,512
	85,307		Alliant Energy Corp		4,281
	183,716		Ameren Corp		6,434
	19,531	*,e	American DG Energy, Inc		41
	370,312		American Electric Power Co, Inc		18,008
	16,487		American States Water Co		949
	134,451		American Water Works Co, Inc		5,572
	104,679		Aqua America, Inc		3,291
	4,909		Artesian Resources Corp		110
	85,946	e	Atlantic Power Corp		424
	69,174		Atmos Energy Corp		2,953
	43,026		Avista Corp		1,179
	33,522		Black Hills Corp		1,476
	8,402	*,e	Cadiz, Inc		57
	35,650		California Water Service Group		709
	309,400	*	Calpine Corp		6,374
	321,488		Centerpoint Energy, Inc		7,703
	11,400		CH Energy Group, Inc		745
	8,826		Chesapeake Utilities Corp		433
	46,444		Cleco Corp		2,184
	200,055		CMS Energy Corp		5,590
	6,221		Connecticut Water Service, Inc		182
	223,655		Consolidated Edison, Inc		13,650
	10,306		Consolidated Water Co, Inc		102
	5,331		Delta Natural Gas Co, Inc		116
	436,204		Dominion Resources, Inc		25,378
	130,357		DTE Energy Co		8,909
	538,071		Duke Energy Corp		39,059
	249,106		Edison International		12,535
	30,616		El Paso Electric Co		1,030
	33,239		Empire District Electric Co		745
	133,953		Entergy Corp		8,471
	649,453		Exelon Corp		22,393
	317,177		FirstEnergy Corp		13,385
	10,513		Genie Energy Ltd		97
	104,313		Great Plains Energy, Inc		2,419
	73,366	e	Hawaiian Electric Industries, Inc		2,033
	38,056		Idacorp, Inc		1,837
	59,780		Integrys Energy Group, Inc		3,477
	39,281	e	ITC Holdings Corp		3,506
	18,400	e	Laclede Group, Inc		786
	144,429		MDU Resources Group, Inc		3,609
	17,500		MGE Energy, Inc		970
	9,765		Middlesex Water Co		191
	55,740		National Fuel Gas Co		3,420
	31,721		New Jersey Resources Corp		1,423
	318,323		NextEra Energy, Inc		24,727
	232,829		NiSource, Inc		6,831

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	239,290		Northeast Utilities	$	10,400
	20,412		Northwest Natural Gas Co		894
	27,832		NorthWestern Corp		1,109
	244,909		NRG Energy, Inc		6,488
	176,210		NV Energy, Inc		3,529
	75,923		OGE Energy Corp		5,313
	158,859		Oneok, Inc		7,573
	13,917	e	Ormat Technologies, Inc		287
	29,407		Otter Tail Corp		916
	168,153		Pepco Holdings, Inc		3,598
	322,704		PG&E Corp		14,370
	54,978		Piedmont Natural Gas Co, Inc		1,808
	83,775		Pinnacle West Capital Corp		4,850
	60,937		PNM Resources, Inc		1,419
	58,032		Portland General Electric Co		1,760
	444,194		PPL Corp		13,908
	384,517		Public Service Enterprise Group, Inc		13,204
	135,152		Questar Corp		3,288
	89,377		SCANA Corp		4,572
	184,498		Sempra Energy		14,749
	10,436		SJW Corp		277
	22,925		South Jersey Industries, Inc		1,274
	663,639		Southern Co		31,138
	34,400		Southwest Gas Corp		1,633
	163,004		TECO Energy, Inc		2,905
	85,402		UGI Corp		3,279
	38,476		UIL Holdings Corp		1,523
	11,594		Unitil Corp		326
	27,775		UNS Energy Corp		1,359
	62,331		Vectren Corp		2,208
	95,865		Westar Energy, Inc		3,181
	38,842		WGL Holdings, Inc		1,713
	175,945		Wisconsin Energy Corp		7,546
	372,057		Xcel Energy, Inc		11,050
	9,006		York Water Co		169
			TOTAL UTILITIES		464,821
			TOTAL COMMON STOCKS		13,286,306
			(Cost $8,901,304)
RIGHTS / WARRANTS - 0.0%
ENERGY - 0.0%
	8,193	e	Magnum Hunter Resources Corp		1
			TOTAL ENERGY		1
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	63,430	m	Allos Therapeutics, Inc		1
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1
			TOTAL RIGHTS / WARRANTS		2
			(Cost $0)

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

PRINCIPAL			ISSUER		RATE		MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 3.2%
TREASURY DEBT - 0.3%
$	500,000		United States Treasury Bill	0.058-0.085		%	04/04/13	$	500
	3,900,000	d	United States Treasury Bill	0.075-0.100			05/30/13		3,900
	1,500,000	d	United States Treasury Bill		0.090		06/06/13		1,500
	9,000,000	d	United States Treasury Bill		0.085		06/13/13		8,999
	1,500,000	d	United States Treasury Bill		0.090		06/27/13		1,500
	3,000,000	d	United States Treasury Bill		0.093		07/11/13		2,999
	14,000,000	d	United States Treasury Bill	0.075-0.090			07/18/13		13,997
	4,500,000		United States Treasury Bill		0.098		09/12/13		4,498
			TOTAL TREASURY DEBT						37,893

SHARES			COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.9%
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.9%
			TIAA-CREF Short Term Lending Portfolio of the State
	385,711,961	a,c	Street Navigator Securities Lending Trust		385,712
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		385,712
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		385,712
			TOTAL SHORT-TERM INVESTMENTS		423,605
			(Cost $423,603)
			TOTAL INVESTMENTS - 102.8%		13,709,913
			(Cost $9,324,907)
			OTHER ASSETS & LIABILITIES, NET - (2.8)%		(376,175	)
			NET ASSETS - 100.0%	$	13,333,738
			Abbreviation(s):
	REIT		Real Estate Investment Trust
	SPDR		Standard & Poor’s Depository Receipts
	*		Non-income producing.
	^		Amount represents less than $1,000.
	a		Affiliated holding.
	c		Investments made with cash collateral received from securites on loan.
	d		All or a portion of these securities have been segregated to cover margin or other requirements on open futures transactions.
	e		All or a portion of these securities are out on loan. The aggregate value of securities on loan is $376,690,000.
	m		Indicates a security that has been deemed illiquid.
			Cost amounts are in thousands.

303

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND
BOND MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2013

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.1%
CAPITAL GOODS - 0.0%
$	825,000	i	Apex Tool Group LLC	4.500	%	02/01/20	$	836
	4,887,750	i	TransDigm, Inc	3.750		02/28/20		4,949
			TOTAL CAPITAL GOODS					5,785
FOOD, BEVERAGE & TOBACCO - 0.1%
	10,833,333		HJ Heinz Co	1.000		02/15/19		10,925
			TOTAL FOOD, BEVERAGE & TOBACCO					10,925
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	5,022,023	i	Fresenius US Finance I, Inc, Term Loan D1	3.250		09/10/14		5,019
	1,805,670	i	Fresenius US Finance I, Inc, Term Loan D2	3.250		09/10/14		1,805
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					6,824
UTILITIES - 0.0%
	199,000	i	Calpine Corp	4.000		10/09/19		201
			TOTAL UTILITIES					201
			TOTAL BANK LOAN OBLIGATIONS					23,735
			(Cost $23,515)
BONDS - 98.0%
CORPORATE BONDS - 33.7%
AUTOMOBILES & COMPONENTS - 0.2%
	19,800,000		Ford Motor Co	4.750		01/15/43		18,428
	4,500,000	g	Hyundai Motor Manufacturer	4.500		04/15/15		4,773
			TOTAL AUTOMOBILES & COMPONENTS					23,201
BANKS - 5.7%
	6,165,000	g	Abbey National Treasury Services plc	3.875		11/10/14		6,391
	5,550,000	g	Akbank TAS	3.875		10/24/17		5,654
	4,500,000	g	Alfa Bond Issuance plc for OJSC Alfa Bank	7.875		09/25/17		5,068
	4,500,000	g	Alfa Bond Issuance plc for OJSC Alfa Bank	7.750		04/28/21		5,029
	2,850,000	g	Banco Davivienda S.A.	5.875		07/09/22		2,950
	9,695,000	g	Banco de Bogota S.A.	5.000		01/15/17		10,386
	7,500,000	g	Banco de Credito del Peru	5.375		09/16/20		8,175
	5,950,000	g	Banco de Credito e Inversiones	4.000		02/11/23		5,888
	4,500,000		Banco de Oro Unibank, Inc	3.875		04/22/16		4,563
	4,725,000	g	Banco del Estado de Chile	2.000		11/09/17		4,730
	2,700,000	g	Banco del Estado de Chile	3.875		02/08/22		2,837
	4,500,000	g	Banco do Brasil S.A.	5.875		01/26/22		4,815
	2,760,000		Banco do Brasil S.A.	3.875		10/10/22		2,670

304

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,900,000	g	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand ER	4.125	%	11/09/22	$	2,915
	7,255,000		Bancolombia S.A.	5.950		06/03/21		8,162
	8,700,000		Bancolombia S.A.	5.125		09/11/22		8,744
	11,786,000	g	Bank Nederlandse Gemeenten	1.375		09/27/17		11,906
	1,500,000	g	Bank Nederlandse Gemeenten	1.375		03/19/18		1,508
	3,800,000	g	Bank of India	3.625		09/21/18		3,814
	11,505,000	g	Bank of Montreal	2.850		06/09/15		12,081
	27,700,000	g	Bank of Montreal	2.625		01/25/16		29,223
	50,520,000	g	Bank of Nova Scotia	1.650		10/29/15		51,889
	39,500,000	g	Bank of Nova Scotia	2.150		08/03/16		41,297
	5,850,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd	2.350		02/23/17		6,072
	3,360,000	g	BBVA Banco Continental S.A.	5.000		08/26/22		3,536
	3,000,000	g	Caixa Economica Federal	2.375		11/06/17		2,914
	6,000,000	g	Canadian Imperial Bank of Commerce	2.600		07/02/15		6,275
	12,500,000	g	Canadian Imperial Bank of Commerce	2.750		01/27/16		13,232
	4,500,000		Capital One Bank USA NA	3.375		02/15/23		4,456
	5,366,000		Citigroup, Inc	6.000		12/13/13		5,560
	12,640,000		Citigroup, Inc	5.000		09/15/14		13,272
	6,400,000		Citigroup, Inc	2.250		08/07/15		6,551
	10,725,000		Citigroup, Inc	1.300		04/01/16		10,724
	24,815,000		Citigroup, Inc	4.450		01/10/17		27,320
	10,325,000		Citigroup, Inc	4.050		07/30/22		10,666
	20,348,000		Citigroup, Inc	3.375		03/01/23		20,511
	12,200,000		Citigroup, Inc	5.875		01/30/42		14,581
	6,875,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA	3.950		11/09/22		6,922
	27,170,000	g	Depfa ACS Bank	5.125		03/16/37		22,823
	3,500,000		Deutsche Bank AG	3.875		08/18/14		3,645
	3,775,000	g	HSBC Bank plc	3.100		05/24/16		4,014
	7,350,000	g	HSBC Bank plc	4.125		08/12/20		8,081
	7,000,000		HSBC Bank USA NA	4.625		04/01/14		7,264
	3,000,000	g,i	HSBC Capital Funding LP	4.610		12/30/49		2,992
	5,250,000		HSBC Holdings plc	4.000		03/30/22		5,649
	2,100,000		HSBC Holdings plc	6.500		09/15/37		2,572
	11,275,000		HSBC USA, Inc	2.375		02/13/15		11,601
	11,350,000		HSBC USA, Inc	1.625		01/16/18		11,339
	7,700,000	g	Hutchison Whampoa International 12 II Ltd	2.000		11/08/17		7,763
	9,000,000	g	ICICI Bank Ltd	4.700		02/21/18		9,499
	2,595,000		JPMorgan Chase & Co	5.125		09/15/14		2,753
	10,500,000		JPMorgan Chase & Co	1.100		10/15/15		10,515
	7,220,000		JPMorgan Chase & Co	3.150		07/05/16		7,655
	13,500,000		JPMorgan Chase & Co	2.000		08/15/17		13,747
	9,125,000		JPMorgan Chase & Co	5.400		01/06/42		10,474
	3,000,000	g	Korea Exchange Bank	3.125		06/26/17		3,148
	4,250,000	i	Manufacturers & Traders Trust Co	5.629		12/01/21		4,367
	6,225,000	g	PKO Finance AB	4.630		09/26/22		6,449
	4,250,000		PNC Bank NA	2.700		11/01/22		4,128
	750,000		PNC Bank NA	2.950		01/30/23		746
	8,000,000		PNC Funding Corp	5.125		02/08/20		9,364
	4,900,000	g,i	Rabobank Nederland NV	11.000		12/30/49		6,554
	24,000,000		Royal Bank of Canada	1.200		09/19/17		24,078
	7,550,000	g	State Bank of India	4.125		08/01/17		7,875
	2,355,000	g	Sumitomo Mitsui Banking Corp	3.150		07/22/15		2,468

305

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	9,000,000	g	Toronto-Dominion Bank	2.200	%	07/29/15	$	9,338
	495,000		Toronto-Dominion Bank	2.500		07/14/16		519
	26,500,000	g	Toronto-Dominion Bank	1.625		09/14/16		27,237
	10,000,000		Toronto-Dominion Bank	2.375		10/19/16		10,462
	70,000,000	g	Toronto-Dominion Bank	1.500		03/13/17		71,693
	1,950,000	g	Turkiye Halk Bankasi AS.	3.875		02/05/20		1,916
	5,025,000	g	Turkiye Is Bankasi	6.000		10/24/22		5,239
	7,100,000		Union Bank NA	2.125		06/16/17		7,308
	2,000,000		Union Bank of California NA	5.950		05/11/16		2,262
	5,700,000		UnionBanCal Corp	3.500		06/18/22		5,909
	5,000,000		US Bancorp	4.950		10/30/14		5,327
	5,800,000		US Bancorp	1.650		05/15/17		5,911
	5,550,000		US Bancorp	2.950		07/15/22		5,523
	1,980,000		Wachovia Bank NA	4.800		11/01/14		2,105
	2,050,000		Wachovia Bank NA	5.850		02/01/37		2,479
	5,000,000		Wachovia Corp	4.875		02/15/14		5,182
	12,500,000		Wells Fargo & Co	1.500		07/01/15		12,707
	10,550,000		Wells Fargo & Co	1.500		01/16/18		10,528
	13,750,000		Wells Fargo & Co	3.500		03/08/22		14,451
	5,700,000		Westpac Banking Corp	3.000		08/04/15		5,986
			TOTAL BANKS					816,932
CAPITAL GOODS - 0.9%
	4,500,000		Caterpillar Financial Services Corp	0.700		11/06/15		4,504
	11,700,000		Caterpillar Financial Services Corp	1.250		11/06/17		11,723
	8,000,000		Caterpillar, Inc	1.375		05/27/14		8,090
	12,050,000		Caterpillar, Inc	1.500		06/26/17		12,231
	2,085,000	g	Crown Americas LLC	4.500		01/15/23		2,022
	5,000,000		Danaher Corp	1.300		06/23/14		5,052
	4,150,000		Danaher Corp	2.300		06/23/16		4,354
	8,000,000		Deere & Co	2.600		06/08/22		8,058
	4,000,000		Emerson Electric Co	4.500		05/01/13		4,013
	4,500,000	g	Hyva Global BV	8.625		03/24/16		4,500
	4,245,000	g	Myriad International Holding BV	6.375		07/28/17		4,781
	2,000,000		Seagate HDD Cayman	6.875		05/01/20		2,150
	4,850,000		Seagate HDD Cayman	7.000		11/01/21		5,262
	665,000	g	Sealed Air Corp	6.500		12/01/20		728
	1,370,000	g	Sealed Air Corp	5.250		04/01/23		1,375
	2,000,000		SPX Corp	6.875		09/01/17		2,225
	6,200,000	g	Turlock Corp	1.500		11/02/17		6,218
	2,075,000	g	Turlock Corp	4.000		11/02/32		2,072
	14,125,000		United Technologies Corp	1.200		06/01/15		14,323
	8,950,000		United Technologies Corp	1.800		06/01/17		9,232
	5,950,000		United Technologies Corp	4.500		06/01/42		6,342
			TOTAL CAPITAL GOODS					119,255
COMMERCIAL & PROFESSIONAL SERVICES - 0.6%
	6,800,000		eBay, Inc	0.700		07/15/15		6,832
	10,300,000		eBay, Inc	1.350		07/15/17		10,414
	5,000,000		International Bank for Reconstruction & Development	0.500		04/15/16		5,001
	10,290,000		Republic Services, Inc	3.800		05/15/18		11,315
	5,375,000		Republic Services, Inc	3.550		06/01/22		5,619
	5,810,000		Republic Services, Inc	6.200		03/01/40		7,184

306

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,000,000		Scientific Games International, Inc	6.250	%	09/01/20	$	5,088
	7,750,000	g	Standard Chartered plc	3.950		01/11/23		7,719
	7,050,000	h	Svensk Exportkredit AB	1.125		04/05/18		7,015
	7,150,000		Waste Management, Inc	2.600		09/01/16		7,495
	19,800,000		Waste Management, Inc	2.900		09/15/22		19,591
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					93,273
CONSUMER DURABLES & APPAREL - 0.2%
	12,174,000		DR Horton, Inc	3.625		02/15/18		12,281
	4,450,000		DR Horton, Inc	4.375		09/15/22		4,372
	1,500,000		Hanesbrands, Inc	6.375		12/15/20		1,633
	3,275,000		Mohawk Industries, Inc	3.850		02/01/23		3,329
	3,000,000		Phillips-Van Heusen Corp	7.375		05/15/20		3,345
	2,625,000		Whirlpool Corp	3.700		03/01/23		2,676
			TOTAL CONSUMER DURABLES & APPAREL					27,636
CONSUMER SERVICES - 0.9%
	850,000	g	ARAMARK Corp	5.750		03/15/20		869
	2,000,000		DineEquity, Inc	9.500		10/30/18		2,280
	11,850,000		GlaxoSmithKline Capital plc	1.500		05/08/17		12,051
	5,000,000		Johns Hopkins University	4.083		07/01/53		5,154
	2,000,000		Penn National Gaming, Inc	8.750		08/15/19		2,260
	11,650,000	g	SABMiller Holdings, Inc	3.750		01/15/22		12,470
	8,650,000	g	SABMiller Holdings, Inc	4.950		01/15/42		9,542
	40,000,000		Stanford University	4.013		05/01/42		41,736
	7,175,000	g	Transnet Ltd	4.500		02/10/16		7,537
	6,375,000		Walt Disney Co	4.500		12/15/13		6,563
	7,900,000		Walt Disney Co	0.450		12/01/15		7,892
	9,000,000		Walt Disney Co	1.100		12/01/17		8,994
	9,900,000		Walt Disney Co	3.700		12/01/42		9,503
			TOTAL CONSUMER SERVICES					126,851
DIVERSIFIED FINANCIALS - 6.2%
	3,875,000		Abbey National Treasury Services plc	4.000		04/27/16		4,121
	8,755,000	g	Ajecorp BV	6.500		05/14/22		9,438
	7,100,000		American Express Centurion Bank	0.875		11/13/15		7,100
	2,000,000		American Express Centurion Bank	6.000		09/13/17		2,388
	17,175,000		American Express Credit Corp	1.750		06/12/15		17,549
	7,700,000		American Express Credit Corp	2.800		09/19/16		8,153
	4,500,000	g	Bangkok Bank PCL	4.800		10/18/20		4,989
	10,780,000	g	Bangkok Bank PCL	3.875		09/27/22		11,035
	15,650,000		Bank of America Corp	3.625		03/17/16		16,601
	15,175,000		Bank of America Corp	3.750		07/12/16		16,140
	18,550,000		Bank of America Corp	5.300		03/15/17		20,785
	8,525,000		Bank of America Corp	6.000		09/01/17		9,897
	5,725,000		Bank of America Corp	5.750		12/01/17		6,622
	26,450,000		Bank of America Corp	2.000		01/11/18		26,324
	25,075,000		Bank of America Corp	3.300		01/11/23		24,725
	10,900,000		Bank of America Corp	5.875		02/07/42		12,950
	2,250,000		Bank of New York Mellon Corp	1.200		02/20/15		2,275
	12,975,000		Bank of New York Mellon Corp	2.300		07/28/16		13,592
	6,250,000	i	Bank of New York Mellon Corp	1.969		06/20/17		6,446
	4,125,000		Bank of New York Mellon Corp	5.450		05/15/19		4,987

307

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,330,000	g	BBVA Bancomer S.A.	4.500	%	03/10/16	$	4,601
	9,075,000	g	BBVA Bancomer S.A.	6.750		09/30/22		10,368
	7,250,000		BlackRock, Inc	3.500		12/10/14		7,614
	15,000,000		BlackRock, Inc	1.375		06/01/15		15,257
	7,000,000		BlackRock, Inc	4.250		05/24/21		7,870
	5,700,000		BlackRock, Inc	3.375		06/01/22		6,011
	10,680,000	g	Caisse Centrale Desjardins du Quebec	2.550		03/24/16		11,265
	24,600,000	g	Caisse Centrale Desjardins du Quebec	1.600		03/06/17		25,227
	7,300,000		Capital One Financial Corp	3.150		07/15/16		7,751
	5,300,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA	3.375		01/19/17		5,674
	5,950,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA	3.875		02/08/22		6,276
	3,700,000		Countrywide Financial Corp	6.250		05/15/16		4,121
	6,850,000		Credit Suisse	5.000		05/15/13		6,890
	8,250,000		Credit Suisse	5.500		05/01/14		8,679
	3,000,000		Credit Suisse	3.500		03/23/15		3,162
	10,000,000	g	FMR LLC	4.950		02/01/33		10,346
	11,425,000	g	FMR LLC	5.150		02/01/43		11,925
	6,660,000		Ford Motor Credit Co LLC	4.250		02/03/17		7,127
	3,340,000		Ford Motor Credit Co LLC	6.625		08/15/17		3,895
	13,000,000		Ford Motor Credit Co LLC	2.375		01/16/18		12,924
	7,325,000		Ford Motor Credit Co LLC	5.000		05/15/18		8,068
	11,950,000		General Electric Capital Corp	1.875		09/16/13		12,025
	17,000,000		General Electric Capital Corp	1.625		07/02/15		17,290
	2,000,000		General Electric Capital Corp	1.625		04/02/18		1,991
	7,200,000		General Electric Capital Corp	2.100		12/11/19		7,320
	45,975,000		General Electric Capital Corp	3.100		01/09/23		45,518
	5,000,000		General Electric Capital Corp	6.150		08/07/37		6,036
	375,000		General Electric Capital Corp	6.875		01/10/39		491
	19,240,000		Goldman Sachs Group, Inc	3.300		05/03/15		20,058
	21,150,000		Goldman Sachs Group, Inc	2.375		01/22/18		21,438
	1,150,000		Goldman Sachs Group, Inc	6.450		05/01/36		1,240
	3,100,000		Goldman Sachs Group, Inc	6.750		10/01/37		3,474
	10,250,000		Goldman Sachs Group, Inc	6.250		02/01/41		12,181
	8,465,000		HSBC Finance Corp	4.750		07/15/13		8,566
	9,599,000		HSBC Finance Corp	6.676		01/15/21		11,359
	1,440,000	g	Hyundai Capital America, Inc	3.750		04/06/16		1,527
	1,800,000	g	Hyundai Capital Services, Inc	4.375		07/27/16		1,945
	2,750,000	g	Hyundai Capital Services, Inc	3.500		09/13/17		2,926
	3,750,000	g	International Lease Finance Corp	6.500		09/01/14		3,994
	9,250,000		International Lease Finance Corp	5.750		05/15/16		9,990
	8,400,000		International Lease Finance Corp	3.875		04/15/18		8,379
	3,200,000		International Lease Finance Corp	5.875		04/01/19		3,456
	10,000,000		International Lease Finance Corp	5.875		08/15/22		10,778
	1,450,000		Jefferies Group, Inc	6.250		01/15/36		1,512
	7,440,000		John Deere Capital Corp	2.250		06/07/16		7,765
	1,500,000		John Deere Capital Corp	1.400		03/15/17		1,519
	7,550,000		John Deere Capital Corp	2.750		03/15/22		7,671
	5,000,000		Landwirtschaftliche Rentenbank	5.125		02/01/17		5,818
	5,745,000	g	Lukoil International Finance BV	6.125		11/09/20		6,521
	4,675,000		Merrill Lynch & Co, Inc	6.400		08/28/17		5,487
	8,025,000		Merrill Lynch & Co, Inc	6.875		04/25/18		9,686
	10,300,000		Morgan Stanley	1.750		02/25/16		10,380
	7,250,000		Morgan Stanley	6.375		07/24/42		8,711

308

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,993,000		National Rural Utilities Cooperative Finance Corp	5.500	%	07/01/13	$	4,043
	3,800,000		National Rural Utilities Cooperative Finance Corp	10.375		11/01/18		5,546
	3,500,000	g	NongHyup Bank	2.250		09/19/17		3,547
	12,750,000		Northern Trust Corp	4.625		05/01/14		13,334
	6,615,000	g	Odebrecht Finance Ltd	5.125		06/26/22		6,956
	2,725,000	g	Odebrecht Finance Ltd	7.125		06/26/42		3,086
	9,100,000	g	Reliance Holdings USA	4.500		10/19/20		9,539
	3,450,000		Sberbank of Russia Via SB Capital S.A.	5.180		06/28/19		3,687
	6,350,000		State Street Corp	4.300		05/30/14		6,636
	57,762,972		Tagua Leasing LLC	1.900		07/12/24		58,709
	12,790,000	g	Temasek Financial I Ltd	2.375		01/23/23		12,317
	50,000,000		Toyota Motor Credit Corp	0.875		07/17/15		50,317
	7,650,000		Toyota Motor Credit Corp	2.050		01/12/17		7,914
	2,325,000		UBS AG.	2.250		01/28/14		2,356
	3,350,000	g	UBS AG.	1.875		01/23/15		3,427
	3,000,000		Unilever Capital Corp	4.800		02/15/19		3,527
	2,000,000		Unilever Capital Corp	4.250		02/10/21		2,285
	3,375,000	g	Waha Aerospace BV	3.925		07/28/20		3,599
			TOTAL DIVERSIFIED FINANCIALS					889,045
ENERGY - 3.4%
	7,950,000		Anadarko Petroleum Corp	5.950		09/15/16		9,151
	2,445,000		Anadarko Petroleum Corp	6.950		06/15/19		3,078
	3,650,000		Apache Corp	1.750		04/15/17		3,714
	12,170,000		Apache Corp	4.750		04/15/43		12,443
	3,750,000	g	Ashland, Inc	3.875		04/15/18		3,797
	2,150,000	g	Ashland, Inc	4.750		08/15/22		2,177
	3,415,000		Baker Hughes, Inc	3.200		08/15/21		3,613
	21,565,000		BP Capital Markets plc	3.200		03/11/16		22,972
	12,950,000		BP Capital Markets plc	1.846		05/05/17		13,275
	6,250,000		Chevron Corp	2.355		12/05/22		6,205
	3,690,000		Cimarex Energy Co	5.875		05/01/22		3,958
	1,000,000		Cloud Peak Energy Resources LLC	8.250		12/15/17		1,070
	2,000,000		Cloud Peak Energy Resources LLC	8.500		12/15/19		2,170
	2,250,000	g	CNOOC Finance 2012 Ltd	3.875		05/02/22		2,371
	9,725,000		ConocoPhillips	4.600		01/15/15		10,418
	7,600,000		ConocoPhillips	6.500		02/01/39		10,163
	2,075,000		Continental Resources, Inc	5.000		09/15/22		2,205
	1,825,000		Devon Energy Corp	1.875		05/15/17		1,843
	8,950,000		Devon Energy Corp	3.250		05/15/22		8,964
	6,800,000		Devon Energy Corp	5.600		07/15/41		7,430
	3,150,000		Devon Energy Corp	4.750		05/15/42		3,077
	3,403,350		Dolphin Energy Ltd	5.888		06/15/19		3,863
	5,300,000	g	Dolphin Energy Ltd	5.500		12/15/21		6,128
	4,500,000	g	Empresa Nacional del Petroleo	6.250		07/08/19		5,041
	3,448,000	g	Empresa Nacional del Petroleo	4.750		12/06/21		3,557
	3,250,000		Enbridge Energy Partners LP	5.200		03/15/20		3,663
	4,000,000		Enterprise Products Operating LLC	5.600		10/15/14		4,288
	1,150,000		Enterprise Products Operating LLC	5.000		03/01/15		1,239
	7,500,000		Enterprise Products Operating LLC	4.450		02/15/43		7,212
	1,950,000		EOG Resources, Inc	2.625		03/15/23		1,926
	4,000,000		Gaz Capital S.A.	6.212		11/22/16		4,455
	700,000		Gaz Capital S.A.	6.510		03/07/22		809

309

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,200,000	g	Gazprom Neft OAO	4.375	%	09/19/22	$	2,170
	3,000,000	g	Gazprom OAO Via Gaz Capital S.A.	4.950		05/23/16		3,210
	5,300,000	g	Gazprom OAO Via Gaz Capital S.A.	3.850		02/06/20		5,300
	4,450,000	g	Gazprom OAO Via Gaz Capital S.A.	4.950		07/19/22		4,639
	1,075,000		Hess Corp	6.000		01/15/40		1,202
	4,625,000		Hess Corp	5.600		02/15/41		4,967
	1,900,000	g	Indo Energy Finance II BV	6.375		01/24/23		1,952
	2,000,000		Kaneb Pipe Line Operating Partnership LP	5.875		06/01/13		2,012
	4,430,000	g	KMG Finance Sub BV	6.375		04/09/21		5,155
	1,610,000	g	Korea National Oil Corp	3.125		04/03/17		1,695
	5,530,000		Marathon Petroleum Corp	3.500		03/01/16		5,909
	1,000,000		MarkWest Energy Partners LP	6.750		11/01/20		1,092
	4,240,000		MarkWest Energy Partners LP	5.500		02/15/23		4,441
	2,525,000		Newfield Exploration Co	5.625		07/01/24		2,607
	2,475,000		Noble Holding International Ltd	3.450		08/01/15		2,592
	7,550,000		Noble Holding International Ltd	4.900		08/01/20		8,372
	8,000,000	g	Novatek OAO via Novatek Finance Ltd	4.422		12/13/22		7,930
	7,444,000		Occidental Petroleum Corp	1.500		02/15/18		7,532
	7,450,000		Occidental Petroleum Corp	4.100		02/01/21		8,446
	800,000		Pemex Project Funding Master Trust	5.750		03/01/18		919
	3,040,000		Pemex Project Funding Master Trust	6.625		06/15/35		3,640
	3,975,000	g	Pertamina Persero PT	4.875		05/03/22		4,134
	3,000,000	g	Pertamina PT	5.250		05/23/21		3,210
	2,080,000		Petrobras International Finance Co	3.875		01/27/16		2,177
	6,050,000		Petrobras International Finance Co	3.500		02/06/17		6,247
	4,500,000		Petrobras International Finance Co	7.875		03/15/19		5,475
	4,450,000		Petrobras International Finance Co	6.875		01/20/40		5,089
	2,900,000		Petroleos Mexicanos	8.000		05/03/19		3,712
	2,500,000		Petroleos Mexicanos	6.000		03/05/20		2,950
	4,000,000		Petroleos Mexicanos	5.500		01/21/21		4,590
	5,560,000		Petroleos Mexicanos	4.875		01/24/22		6,158
	20,000,000		Petroleos Mexicanos	1.950		12/20/22		20,509
	10,700,000		Petroleos Mexicanos	2.000		12/20/22		10,998
	1,500,000	g	Petroleos Mexicanos	3.500		01/30/23		1,496
	6,150,000		Petroleos Mexicanos	6.500		06/02/41		7,242
	2,250,000		Petroleos Mexicanos	5.500		06/27/44		2,321
	3,960,000	g	Petroleum Co of Trinidad & Tobago Ltd	9.750		08/14/19		5,178
	7,400,000		Phillips 66	1.950		03/05/15		7,563
	6,125,000		Phillips 66	4.300		04/01/22		6,724
	3,000,000		Plains All American Pipeline LP	5.625		12/15/13		3,108
	2,674,000		Precision Drilling Trust	6.625		11/15/20		2,854
	2,675,000	g	PTT PCL	3.375		10/25/22		2,659
	3,000,000	g	PTTEP Canada International Finance Ltd	5.692		04/05/21		3,451
	2,940,000		QEP Resources, Inc	5.375		10/01/22		3,050
	1,250,000		Questar Market Resources, Inc	6.875		03/01/21		1,422
	700,000		Range Resources Corp	7.250		05/01/18		728
	3,335,000		Range Resources Corp	5.000		08/15/22		3,402
	3,126,200		Ras Laffan Liquefied Natural Gas Co Ltd	5.298		09/30/20		3,478
	1,600,000	g	Rosneft Oil Co via Rosneft International Finance Ltd	3.149		03/06/17		1,608
	5,150,000	g	Rosneft Oil Co via Rosneft International Finance Ltd	4.199		03/06/22		5,105
	7,925,000	g	Schlumberger Investment S.A.	2.400		08/01/22		7,814
	6,250,000		Shell International Finance BV	3.100		06/28/15		6,606
	7,620,000		Shell International Finance BV	4.300		09/22/19		8,826

310

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,925,000		Shell International Finance BV	6.375	%	12/15/38	$	2,659
	5,000,000	g	Sibur Securities Ltd	3.914		01/31/18		4,913
	3,464,000		Southwestern Energy Co	7.500		02/01/18		4,255
	2,800,000		Statoil ASA	2.900		10/15/14		2,905
	2,075,000		Statoil ASA	1.200		01/17/18		2,082
	5,300,000		Statoil ASA	2.450		01/17/23		5,214
	4,025,000		Total Capital Canada Ltd	1.450		01/15/18		4,061
	6,100,000		Total Capital International S.A.	1.500		02/17/17		6,205
	2,175,000		TransCanada Pipelines Ltd	4.000		06/15/13		2,190
	3,400,000		TransCanada Pipelines Ltd	5.850		03/15/36		4,119
	2,750,000	i	TransCanada Pipelines Ltd	6.350		05/15/67		2,933
	13,225,000		Vale Overseas Ltd	4.375		01/11/22		13,569
	2,760,000		Vale Overseas Ltd	6.875		11/21/36		3,135
	3,375,000		Valero Energy Corp	4.500		02/01/15		3,595
	5,000,000		XTO Energy, Inc	6.250		04/15/13		5,009
	4,400,000		XTO Energy, Inc	4.625		06/15/13		4,435
			TOTAL ENERGY					493,220
FOOD & STAPLES RETAILING - 0.2%
	5,690,000		CVS Caremark Corp	3.250		05/18/15		5,991
	5,114,000		CVS Caremark Corp	5.750		06/01/17		6,048
	6,000,000		CVS Caremark Corp	2.750		12/01/22		5,915
	1,500,000		Ingles Markets, Inc	8.875		05/15/17		1,573
	1,205,000		Kroger Co	5.000		04/15/13		1,207
	3,750,000		Safeway, Inc	3.400		12/01/16		3,954
	880,000		Stater Bros Holdings, Inc	7.750		04/15/15		880
	900,000		Stater Bros Holdings, Inc	7.375		11/15/18		962
			TOTAL FOOD & STAPLES RETAILING					26,530
FOOD, BEVERAGE & TOBACCO - 1.3%
	7,550,000	g	Anadolu Efes Biracilik Ve Malt Sanayii AS.	3.375		11/01/22		7,191
	19,410,000		Anheuser-Busch InBev Finance, Inc	2.625		01/17/23		19,188
	6,300,000		Anheuser-Busch InBev Worldwide, Inc	2.875		02/15/16		6,676
	10,575,000		Anheuser-Busch InBev Worldwide, Inc	1.375		07/15/17		10,663
	7,650,000		Anheuser-Busch InBev Worldwide, Inc	2.500		07/15/22		7,519
	5,125,000	g	BRF-Brasil Foods S.A.	5.875		06/06/22		5,702
	4,500,000	g	CCL Finance Ltd	9.500		08/15/14		4,901
	6,150,000		Coca-Cola Co	0.750		03/13/15		6,181
	18,750,000		Coca-Cola Co	1.800		09/01/16		19,384
	3,250,000		ConAgra Foods, Inc	1.300		01/25/16		3,276
	4,080,000		General Mills, Inc	5.200		03/17/15		4,432
	11,000,000		General Mills, Inc	3.150		12/15/21		11,534
	5,525,000	g	Grupo Bimbo SAB de C.V.	4.500		01/25/22		5,989
	3,950,000	g	Heineken NV	4.000		10/01/42		3,747
	6,000,000		HJ Heinz Co	1.500		03/01/17		6,057
	2,530,000		Kraft Foods, Inc	6.125		02/01/18		3,034
	8,750,000		Kraft Foods, Inc	5.375		02/10/20		10,411
	8,105,000		Kraft Foods, Inc	6.500		02/09/40		10,525
	625,000		PepsiAmericas, Inc	4.375		02/15/14		646
	680,000		PepsiCo, Inc	7.900		11/01/18		905
	22,500,000		PepsiCo, Inc	2.750		03/01/23		22,521
	2,000,000	g	Pernod-Ricard S.A.	2.950		01/15/17		2,101
	2,900,000		Philip Morris International, Inc	4.875		05/16/13		2,916

311

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	7,425,000		Philip Morris International, Inc	6.875	%	03/17/14	$	7,889
	1,600,000		Philip Morris International, Inc	6.375		05/16/38		2,074
			TOTAL FOOD, BEVERAGE & TOBACCO					185,462
HEALTH CARE EQUIPMENT & SERVICES - 0.7%
	3,900,000		Becton Dickinson and Co	1.750		11/08/16		4,005
	3,950,000		Cardinal Health, Inc	3.200		03/15/23		3,930
	2,325,000		CHS/Community Health Systems	5.125		08/15/18		2,435
	7,150,000		Covidien International Finance S.A.	1.350		05/29/15		7,253
	3,800,000		Covidien International Finance S.A.	3.200		06/15/22		3,964
	6,500,000		Express Scripts Holding Co	2.100		02/12/15		6,640
	6,850,000		Express Scripts Holding Co	3.900		02/15/22		7,349
	4,500,000	g	Fresenius Medical Care Capital Trust	5.750		02/15/21		4,961
	4,000,000	g	Fresenius Medical Care II	5.625		07/31/19		4,390
	4,560,000		HCA, Inc	6.500		02/15/20		5,144
	9,575,000		HCA, Inc	5.875		03/15/22		10,317
	5,000,000		HCA, Inc	5.875		05/01/23		5,200
	4,250,000		McKesson Corp	0.950		12/04/15		4,262
	1,252,000		McKesson Corp	3.250		03/01/16		1,342
	1,695,000		Thermo Fisher Scientific, Inc	3.200		05/01/15		1,771
	1,750,000		Thermo Fisher Scientific, Inc	5.000		06/01/15		1,898
	12,280,000		Thermo Fisher Scientific, Inc	3.200		03/01/16		13,015
	6,125,000		Thermo Fisher Scientific, Inc	2.250		08/15/16		6,342
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					94,218
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	7,175,000		Clorox Co	3.800		11/15/21		7,716
	2,620,000		Colgate-Palmolive Co	2.300		05/03/22		2,618
	4,525,000		Ecolab, Inc	1.450		12/08/17		4,493
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS					14,827
INSURANCE - 1.4%
	3,825,000		ACE INA Holdings, Inc	5.875		06/15/14		4,065
	6,560,000		Aetna, Inc	6.500		09/15/18		8,102
	1,925,000		Aetna, Inc	6.625		06/15/36		2,500
	5,375,000		Allstate Corp	7.450		05/16/19		7,067
	500,000		American International Group, Inc	3.650		01/15/14		512
	11,275,000		Berkshire Hathaway, Inc	1.900		01/31/17		11,631
	3,750,000		Chubb Corp	6.000		05/11/37		4,807
	1,390,000		CIGNA Corp	5.125		06/15/20		1,603
	6,900,000		CIGNA Corp	4.500		03/15/21		7,716
	7,600,000		Hartford Financial Services Group, Inc	4.000		03/30/15		8,032
	4,500,000		Hartford Financial Services Group, Inc	4.000		10/15/17		4,984
	2,800,000		Lincoln National Corp	7.000		06/15/40		3,688
	5,250,000	g	MetLife Institutional Funding II	1.625		04/02/15		5,336
	7,675,000		Metlife, Inc	6.750		06/01/16		9,023
	4,500,000		Metlife, Inc	5.700		06/15/35		5,267
	6,500,000		Metlife, Inc	4.125		08/13/42		6,085
	2,825,000		Principal Financial Group, Inc	1.850		11/15/17		2,854
	5,500,000	g	Principal Life Global Funding I	5.125		10/15/13		5,638
	5,000,000		Progressive Corp	3.750		08/23/21		5,447
	2,000,000		Prudential Financial, Inc	3.875		01/14/15		2,104
	8,050,000		Prudential Financial, Inc	7.375		06/15/19		10,336

312

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,000,000		Prudential Financial, Inc	6.625	%	06/21/40	$	6,360
	7,000,000		Prudential Financial, Inc	6.200		11/15/40		8,466
	8,650,000	i	Prudential Financial, Inc	5.200		03/15/44		8,672
	3,000,000	g	Prudential Funding LLC	6.750		09/15/23		3,522
	2,425,000	g	Swiss Re Treasury US Corp	2.875		12/06/22		2,418
	6,100,000	g	Swiss Re Treasury US Corp	4.250		12/06/42		5,893
	4,250,000		Travelers Cos, Inc	5.800		05/15/18		5,192
	7,875,000		UnitedHealth Group, Inc	0.850		10/15/15		7,899
	6,000,000		UnitedHealth Group, Inc	1.400		10/15/17		6,043
	7,450,000		UnitedHealth Group, Inc	3.950		10/15/42		7,016
	1,800,000		WellPoint, Inc	5.875		06/15/17		2,119
	6,750,000		WellPoint, Inc	3.125		05/15/22		6,796
	2,250,000		WellPoint, Inc	5.850		01/15/36		2,655
	7,850,000		WellPoint, Inc	4.625		05/15/42		7,881
	7,000,000		Willis Group Holdings plc	4.125		03/15/16		7,438
	2,400,000		WR Berkley Corp	5.375		09/15/20		2,708
			TOTAL INSURANCE					207,875
MATERIALS - 1.8%
	3,385,000		3M Co	4.375		08/15/13		3,437
	4,150,000		3M Co	5.700		03/15/37		5,359
	6,630,000		Air Products & Chemicals, Inc	4.375		08/21/19		7,601
	1,125,000		Airgas, Inc	4.500		09/15/14		1,184
	1,000,000		Airgas, Inc	7.125		10/01/18		1,066
	2,150,000	g	Anglo American Capital plc	4.450		09/27/20		2,301
	1,860,000		ArcelorMittal	4.250		08/05/15		1,933
	3,500,000		ArcelorMittal	5.000		02/25/17		3,663
	1,015,000		Ball Corp	7.125		09/01/16		1,073
	355,000		Ball Corp	7.375		09/01/19		393
	4,000,000		Ball Corp	5.750		05/15/21		4,320
	1,365,000		Ball Corp	5.000		03/15/22		1,420
	7,725,000		Barrick Gold Corp	3.850		04/01/22		7,897
	7,175,000		Barrick North America Finance LLC	4.400		05/30/21		7,662
	10,100,000	g	Braskem Finance Ltd	5.375		05/02/22		10,464
	3,000,000		Celanese US Holdings LLC	6.625		10/15/18		3,244
	550,000	g	Cemex SAB de C.V.	5.875		03/25/19		555
	2,000,000		CF Industries, Inc	6.875		05/01/18		2,396
	3,175,000		CF Industries, Inc	7.125		05/01/20		3,934
	7,150,000	g	Cia Minera Milpo SAA	4.625		03/28/23		7,107
	3,550,000		Corning, Inc	1.450		11/15/17		3,565
	2,400,000	g	Corp Nacional del Cobre de Chile-CODELCO	3.750		11/04/20		2,513
	5,100,000	g	Corp Nacional del Cobre de Chile-CODELCO	3.875		11/03/21		5,349
	2,900,000	g	Corp Nacional del Cobre de Chile-CODELCO	3.000		07/17/22		2,833
	4,030,000	g	Corp Nacional del Cobre de Chile-CODELCO	4.250		07/17/42		3,701
	9,270,000		Crown Americas LLC	6.250		02/01/21		10,127
	1,000,000		Eastman Chemical Co	5.500		11/15/19		1,172
	6,000,000		E.I. du Pont de Nemours & Co	4.625		01/15/20		6,949
	5,500,000		E.I. du Pont de Nemours & Co	3.250		01/15/15		5,769
	12,625,000	g	Freeport McMoran	2.375		03/15/18		12,678
	12,000,000	g	Freeport McMoran	3.100		03/15/20		12,040
	1,500,000		Graphic Packaging International, Inc	9.500		06/15/17		1,594
	1,400,000		Greif, Inc	7.750		08/01/19		1,631
	13,016,000		International Paper Co	4.750		02/15/22		14,651

313

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,250,000		International Paper Co	7.300	%	11/15/39	$	5,603
	3,000,000		LyondellBasell Industries NV	5.000		04/15/19		3,390
	1,950,000		LyondellBasell Industries NV	6.000		11/15/21		2,311
	2,125,000	g	Mexichem SAB de C.V.	4.875		09/19/22		2,253
	7,650,000		Newmont Mining Corp	3.500		03/15/22		7,702
	5,050,000		Praxair, Inc	5.250		11/15/14		5,436
	7,500,000		Rio Tinto Finance USA Ltd	2.250		09/20/16		7,780
	9,525,000		Rio Tinto Finance USA plc	2.875		08/21/22		9,322
	5,000,000		Rock Tenn Co	3.500		03/01/20		5,111
	3,000,000		Rock Tenn Co	4.000		03/01/23		3,034
	12,475,000		Sherwin-Williams Co	1.350		12/15/17		12,523
	3,140,000	g	Sociedad Quimica y Minera de Chile S.A.	5.500		04/21/20		3,538
	4,625,000		Teck Resources Ltd	2.500		02/01/18		4,668
	9,950,000		Teck Resources Ltd	3.750		02/01/23		9,710
	1,940,000		Teck Resources Ltd	6.000		08/15/40		2,012
	11,850,000		Teck Resources Ltd	5.200		03/01/42		10,920
			TOTAL MATERIALS					256,894
MEDIA - 1.4%
	1,960,000		CCO Holdings LLC	6.625		01/31/22		2,102
	1,388,000		Cinemark USA, Inc	8.625		06/15/19		1,532
	13,150,000		Comcast Corp	2.850		01/15/23		13,106
	33,000,000		Comcast Corp	4.250		01/15/33		33,218
	7,000,000		DIRECTV Holdings LLC	2.400		03/15/17		7,180
	4,700,000		DIRECTV Holdings LLC	5.150		03/15/42		4,542
	8,725,000		Discovery Communications LLC	3.300		05/15/22		8,891
	10,000,000	g	DISH DBS Corp	5.000		03/15/23		9,838
	5,000,000		Grupo Televisa S.A.	6.000		05/15/18		5,824
	2,160,000		Lamar Media Corp	7.875		04/15/18		2,352
	1,850,000		Lamar Media Corp	5.875		02/01/22		2,003
	10,000,000		Lamar Media Corp	5.000		05/01/23		10,000
	7,250,000	g	NBC Universal Enterprise, Inc	1.662		04/15/18		7,263
	7,700,000	g	NBC Universal Enterprise, Inc	1.974		04/15/19		7,721
	10,350,000		NBC Universal Media LLC	2.875		01/15/23		10,259
	2,105,000		News America, Inc	7.625		11/30/28		2,757
	1,578,000		News America, Inc	6.550		03/15/33		1,862
	3,575,000		News America, Inc	6.650		11/15/37		4,416
	3,800,000		News America, Inc	6.900		08/15/39		4,838
	3,315,000		Nielsen Finance LLC	7.750		10/15/18		3,680
	2,800,000	g	Nielsen Finance LLC	4.500		10/01/20		2,796
	2,100,000		Time Warner Cable, Inc	8.750		02/14/19		2,777
	9,675,000		Time Warner Cable, Inc	8.250		04/01/19		12,594
	9,850,000		Time Warner Cable, Inc	4.500		09/15/42		8,954
	3,000,000		Time Warner, Inc	3.150		07/15/15		3,159
	3,825,000		Time Warner, Inc	6.500		11/15/36		4,609
	5,000,000		Time Warner, Inc	5.375		10/15/41		5,379
	5,525,000		Time Warner, Inc	4.900		06/15/42		5,550
	4,850,000		Viacom, Inc	1.250		02/27/15		4,884
	5,400,000		Viacom, Inc	2.500		12/15/16		5,627
	3,000,000		Viacom, Inc	3.500		04/01/17		3,207
			TOTAL MEDIA					202,920

314

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.8%
$	18,200,000	g	AbbVie, Inc	1.200	%	11/06/15	$	18,342
	14,475,000	g	AbbVie, Inc	1.750		11/06/17		14,651
	7,025,000	g	AbbVie, Inc	2.900		11/06/22		7,031
	5,000,000	g	CFR International S.p.A	5.125		12/06/22		5,140
	5,450,000		Johnson & Johnson	2.150		05/15/16		5,705
	3,140,000		Life Technologies Corp	3.500		01/15/16		3,277
	4,115,000		Mead Johnson Nutrition Co	4.900		11/01/19		4,677
	2,750,000		Mead Johnson Nutrition Co	5.900		11/01/39		3,257
	3,500,000	g	Mylan, Inc	7.875		07/15/20		4,084
	1,750,000		NBTY, Inc	9.000		10/01/18		1,956
	3,750,000		Novartis Capital Corp	4.125		02/10/14		3,865
	15,775,000		Novartis Capital Corp	2.900		04/24/15		16,544
	2,750,000		Novartis Capital Corp	3.700		09/21/42		2,654
	8,750,000		Sanofi-Aventis S.A.	2.625		03/29/16		9,212
	3,450,000		Watson Pharmaceuticals, Inc	1.875		10/01/17		3,490
	5,700,000		Watson Pharmaceuticals, Inc	3.250		10/01/22		5,778
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					109,663
REAL ESTATE - 0.8%
	1,485,000		AMB Property LP	7.625		08/15/14		1,605
	2,310,000		AMB Property LP	4.500		08/15/17		2,540
	7,500,000		AvalonBay Communities, Inc	2.850		03/15/23		7,310
	3,750,000		Boston Properties LP	3.850		02/01/23		3,963
	2,000,000		Brandywine Operating Partnership LP	5.400		11/01/14		2,121
	3,965,000		Camden Property Trust	4.625		06/15/21		4,455
	6,800,000		Developers Diversified Realty Corp	4.750		04/15/18		7,518
	3,460,000		Developers Diversified Realty Corp	7.875		09/01/20		4,399
	255,000		Federal Realty Investment Trust	5.650		06/01/16		287
	700,000		Federal Realty Investment Trust	5.900		04/01/20		832
	2,225,000		Federal Realty Investment Trust	3.000		08/01/22		2,197
	2,775,000		Healthcare Realty Trust, Inc	5.750		01/15/21		3,163
	1,625,000		Healthcare Realty Trust, Inc	3.750		04/15/23		1,616
	3,550,000	g	Healthcare Trust of America Holdings LP	3.700		04/15/23		3,547
	1,600,000		Highwoods Properties, Inc	5.850		03/15/17		1,795
	5,000,000		Highwoods Realty LP	3.625		01/15/23		4,941
	3,800,000		Kilroy Realty LP	3.800		01/15/23		3,892
	6,400,000		Liberty Property LP	4.125		06/15/22		6,766
	2,925,000		Liberty Property LP	3.375		06/15/23		2,904
	4,000,000		National Retail Properties, Inc	5.500		07/15/21		4,614
	1,700,000		National Retail Properties, Inc	3.800		10/15/22		1,739
	2,325,000		Regency Centers LP	5.250		08/01/15		2,524
	225,000		Regency Centers LP	5.875		06/15/17		258
	800,000		Simon Property Group LP	5.250		12/01/16		910
	4,150,000		Simon Property Group LP	2.800		01/30/17		4,373
	3,040,000		Simon Property Group LP	10.350		04/01/19		4,387
	6,900,000		Simon Property Group LP	2.750		02/01/23		6,777
	1,360,000		Ventas Realty LP	3.125		11/30/15		1,438
	8,050,000		Ventas Realty LP	2.000		02/15/18		8,096
	3,750,000		Ventas Realty LP	4.000		04/30/19		4,092
	1,850,000		Ventas Realty LP	4.250		03/01/22		1,987
	4,800,000		Weingarten Realty Investors	3.500		04/15/23		4,776
			TOTAL REAL ESTATE					111,822

315

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
RETAILING - 0.6%
$	3,000,000		AmeriGas Partners LP	6.250	%	08/20/19	$	3,195
	2,000,000		Asbury Automotive Group, Inc	7.625		03/15/17		2,058
	2,500,000		AutoNation, Inc	5.500		02/01/20		2,713
	3,150,000		Limited Brands, Inc	7.000		05/01/20		3,654
	3,855,000		Limited Brands, Inc	5.625		02/15/22		4,086
	19,000,000		Macy’s Retail Holdings, Inc	2.875		02/15/23		18,388
	8,315,000		O’Reilly Automotive, Inc	4.625		09/15/21		9,146
	4,550,000		O’Reilly Automotive, Inc	3.800		09/01/22		4,718
	3,000,000	g	QVC, Inc	7.125		04/15/17		3,107
	2,000,000	g	QVC, Inc	7.500		10/01/19		2,210
	2,475,000		QVC, Inc	5.125		07/02/22		2,622
	4,400,000	g	QVC, Inc	4.375		03/15/23		4,448
	875,000		Wal-Mart Stores, Inc	3.000		02/03/14		895
	3,450,000		Wal-Mart Stores, Inc	3.250		10/25/20		3,731
	3,437,000		Wal-Mart Stores, Inc	4.250		04/15/21		3,940
	3,675,000		Wal-Mart Stores, Inc	5.000		10/25/40		4,211
	12,000,000		Wal-Mart Stores, Inc	5.625		04/15/41		15,009
	3,900,000	g	WEX, Inc	4.750		02/01/23		3,773
			TOTAL RETAILING					91,904
SOFTWARE & SERVICES - 0.6%
	2,075,000		Equinix, Inc	4.875		04/01/20		2,091
	11,500,000		Fidelity National Information Services, Inc	5.000		03/15/22		12,204
	20,000,000		International Business Machines Corp	0.750		05/11/15		20,131
	4,030,000		International Business Machines Corp	1.950		07/22/16		4,180
	8,825,000		Microsoft Corp	1.625		09/25/15		9,070
	2,850,000		Microsoft Corp	0.875		11/15/17		2,840
	3,075,000	g	NCR Corp	4.625		02/15/21		3,060
	3,925,000		Oracle Corp	3.750		07/08/14		4,088
	7,850,000		Oracle Corp	1.200		10/15/17		7,859
	3,100,000		Oracle Corp	5.750		04/15/18		3,741
	20,425,000		Oracle Corp	2.500		10/15/22		20,051
	1,000,000		SunGard Data Systems, Inc	7.375		11/15/18		1,070
			TOTAL SOFTWARE & SERVICES					90,385
TECHNOLOGY HARDWARE & EQUIPMENT - 0.7%
	4,000,000		Amphenol Corp	4.750		11/15/14		4,237
	1,000,000		Brocade Communications Systems, Inc	6.875		01/15/20		1,095
	1,975,000	g	CC Holdings GS V LLC	2.381		12/15/17		1,988
	10,300,000		Discovery Communications LLC	4.875		04/01/43		10,538
	5,962,000	g	Flextronics International Ltd	4.625		02/15/20		6,022
	38,125,000		General Electric Co	0.850		10/09/15		38,252
	3,300,000		General Electric Co	5.250		12/06/17		3,866
	11,950,000		General Electric Co	2.700		10/09/22		11,951
	5,325,000		General Electric Co	4.125		10/09/42		5,338
	3,500,000		Jabil Circuit, Inc	5.625		12/15/20		3,710
	2,000,000		L-3 Communications Corp	4.950		02/15/21		2,236
	3,600,000		Xerox Corp	8.250		05/15/14		3,885
	10,275,000		Xerox Corp	4.500		05/15/21		10,988
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					104,106

316

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
TELECOMMUNICATION SERVICES - 1.9%
$	2,870,000		America Movil SAB de C.V.	2.375	%	09/08/16	$	2,952
	11,875,000		America Movil SAB de C.V.	3.125		07/16/22		11,645
	3,575,000		American Tower Corp	4.700		03/15/22		3,885
	7,500,000		American Tower Corp	3.500		01/31/23		7,439
	2,500,000		AT&T, Inc	2.500		08/15/15		2,597
	20,750,000		AT&T, Inc	2.950		05/15/16		21,953
	7,225,000		AT&T, Inc	1.400		12/01/17		7,175
	15,050,000		AT&T, Inc	2.625		12/01/22		14,531
	11,500,000		AT&T, Inc	6.300		01/15/38		13,795
	4,715,000	g	AT&T, Inc	4.350		06/15/45		4,383
	4,500,000		Axiata SPV1 (Labuan) Ltd	5.375		04/28/20		5,104
	13,125,000		BellSouth Corp	5.200		09/15/14		13,980
	8,500,000	g	Bharti Airtel International Netherlands BV	5.125		03/11/23		8,534
	13,850,000		Cellco Partnership	8.500		11/15/18		18,432
	4,000,000	g	Deutsche Telekom International Finance BV	2.250		03/06/17		4,098
	4,000,000		Deutsche Telekom International Finance BV	8.750		06/15/30		5,664
	3,625,000	g	Deutsche Telekom International Finance BV	4.875		03/06/42		3,639
	3,100,000	g	Globo Comunicacao e Participacoes S.A.	4.875		04/11/22		3,350
	12,070,000	g	Oi S.A.	5.750		02/10/22		12,613
	4,500,000		Rogers Communications, Inc	3.000		03/15/23		4,516
	2,050,000	g,h	SES	3.600		04/04/23		2,050
	1,225,000		Sprint Nextel Corp	6.000		12/01/16		1,329
	3,075,000		Telecom Italia Capital S.A.	6.175		06/18/14		3,217
	6,694,000		Telecom Italia Capital S.A.	6.999		06/04/18		7,554
	2,406,000		Telecom Italia Capital S.A.	7.175		06/18/19		2,736
	11,100,000		Telefonica Emisiones SAU	3.992		02/16/16		11,570
	3,775,000		Telefonica Emisiones SAU	5.462		02/16/21		4,063
	4,500,000		Telefonos de Mexico SAB de C.V.	5.500		11/15/19		5,236
	5,125,000		Verizon Communications, Inc	5.250		04/15/13		5,133
	21,600,000		Verizon Communications, Inc	0.700		11/02/15		21,492
	1,250,000		Verizon Communications, Inc	6.100		04/15/18		1,509
	1,888,000		Verizon Communications, Inc	8.750		11/01/18		2,539
	15,550,000		Verizon Communications, Inc	3.850		11/01/42		13,449
	8,275,000	g	VimpelCom Holdings BV	5.950		02/13/23		8,223
	2,250,000		Virgin Media Finance plc	4.875		02/15/22		2,278
	5,000,000		Virgin Media Finance plc	5.250		02/15/22		5,081
	735,000		Windstream Corp	8.125		09/01/18		805
			TOTAL TELECOMMUNICATION SERVICES					268,549
TRANSPORTATION - 0.4%
	5,730,000	g	Asciano Finance	5.000		04/07/18		6,286
	1,800,000	g	Asciano Finance Ltd	3.125		09/23/15		1,854
	5,000,000		Burlington Northern Santa Fe LLC	3.450		09/15/21		5,309
	3,475,000		Burlington Northern Santa Fe LLC	5.050		03/01/41		3,759
	7,575,000		CSX Corp	4.100		03/15/44		7,156
	5,750,000	g	DP World Ltd	6.850		07/02/37		6,538
	2,325,000		Embraer Overseas Ltd	6.375		01/15/20		2,688
	3,900,000	g	ERAC USA Finance LLC	3.300		10/15/22		3,929
	4,150,000	g	ERAC USA Finance LLC	5.625		03/15/42		4,627
	7,750,000		United Parcel Service, Inc	3.125		01/15/21		8,272
	4,900,000		United Parcel Service, Inc	3.625		10/01/42		4,690
			TOTAL TRANSPORTATION					55,108

317

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
UTILITIES - 2.9%
$	1,325,000	g	Abu Dhabi National Energy Co	2.500	%	01/12/18	$	1,332
	3,630,000	g	Abu Dhabi National Energy Co	5.875		12/13/21		4,270
	3,500,000	g	Abu Dhabi National Energy Co	3.625		01/12/23		3,526
	10,000,000		Alabama Power Co	3.850		12/01/42		9,606
	8,435,000		Alliant Energy Corp	4.000		10/15/14		8,841
	15,000,000		American Electric Power Co, Inc	1.650		12/15/17		15,051
	6,000,000		American Electric Power Co, Inc	2.950		12/15/22		5,995
	1,667,000		Arizona Public Service Co	5.050		09/01/41		1,877
	5,500,000		Atmos Energy Corp	8.500		03/15/19		7,421
	7,150,000		Atmos Energy Corp	4.150		01/15/43		7,113
	1,800,000	g	Calpine Corp	7.500		02/15/21		1,976
	4,500,000		Carolina Power & Light Co	5.125		09/15/13		4,596
	4,750,000		Carolina Power & Light Co	5.300		01/15/19		5,713
	2,750,000		Carolina Power & Light Co	5.700		04/01/35		3,325
	3,670,000		CenterPoint Energy Resources Corp	4.500		01/15/21		4,170
	3,550,000		CenterPoint Energy Resources Corp	6.250		02/01/37		4,392
	4,500,000	g	Centrais Eletricas Brasileiras S.A.	5.750		10/27/21		4,798
	11,930,000	g	CEZ AS.	4.250		04/03/22		12,645
	6,125,000		CLP Power Hong Kong Financing Ltd	3.375		10/26/27		5,745
	2,500,000		CMS Energy Corp	5.050		02/15/18		2,851
	5,450,000		CMS Energy Corp	4.700		03/31/43		5,450
	2,500,000	g	Colbun S.A.	6.000		01/21/20		2,809
	5,860,000	g	Comision Federal de Electricidad	4.875		05/26/21		6,512
	2,075,000	g	Comision Federal de Electricidad	5.750		02/14/42		2,262
	3,055,000		Commonwealth Edison Co	4.000		08/01/20		3,436
	4,200,000		Commonwealth Edison Co	5.900		03/15/36		5,332
	2,750,000		Connecticut Light & Power Co	5.500		02/01/19		3,323
	9,050,000		Consolidated Edison Co of New York, Inc	3.950		03/01/43		8,925
	4,250,000		Consolidated Natural Gas Co	5.000		12/01/14		4,530
	3,750,000		Detroit Edison Co	3.950		06/15/42		3,731
	4,000,000		Dominion Resources, Inc	4.050		09/15/42		3,866
	7,150,000		Duke Energy Carolinas LLC	5.750		11/15/13		7,379
	1,400,000		Duke Energy Carolinas LLC	4.300		06/15/20		1,609
	5,690,000	g	Eskom Holdings Ltd	5.750		01/26/21		6,159
	2,000,000		Florida Power Corp	6.400		06/15/38		2,669
	3,500,000		FPL Group Capital, Inc	2.600		09/01/15		3,633
	3,000,000		Georgia Power Co	5.400		06/01/40		3,531
	2,000,000		Georgia Power Co	4.300		03/15/42		2,007
	5,000,000		Indiana Michigan Power Co	7.000		03/15/19		6,298
	2,725,000		Integrys Energy Group, Inc	4.170		11/01/20		3,010
	3,350,000	g	Israel Electric Corp Ltd	6.700		02/10/17		3,731
	1,000,000	g	Kansas Gas & Electric	6.700		06/15/19		1,279
	2,825,000		Kinder Morgan Energy Partners LP	9.000		02/01/19		3,780
	1,850,000	g	Korea Hydro & Nuclear Power Co Ltd	3.125		09/16/15		1,930
	7,150,000	g	Korea Hydro & Nuclear Power Co Ltd	4.750		07/13/21		8,039
	3,280,000	g	Korea Hydro & Nuclear Power Co Ltd	3.000		09/19/22		3,224
	5,000,000		LG&E and KU Energy LLC	3.750		11/15/20		5,310
	4,500,000	g	Majapahit Holding BV	7.875		06/29/37		5,816
	5,950,000		Midamerican Energy Holdings Co	5.950		05/15/37		7,332
	2,800,000		Nevada Power Co	6.500		08/01/18		3,484
	3,335,000		Nevada Power Co	5.450		05/15/41		4,000
	2,850,000		Oncor Electric Delivery Co LLC	5.250		09/30/40		3,171

318

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	8,400,000		Oncor Electric Delivery Co LLC	4.550	%	12/01/41	$	8,494
	4,850,000		ONEOK Partners LP	3.375		10/01/22		4,817
	5,250,000		Pacific Gas & Electric Co	8.250		10/15/18		7,041
	2,750,000		PacifiCorp	6.000		01/15/39		3,587
	4,825,000		Pepco Holdings, Inc	2.700		10/01/15		5,003
	8,450,000	g	Perusahaan Listrik Negara PT	5.500		11/22/21		9,168
	6,750,000		PG&E Corp	5.750		04/01/14		7,070
	750,000		Potomac Electric Power Co	7.900		12/15/38		1,195
	6,925,000		PPL Capital Funding, Inc	4.200		06/15/22		7,298
	2,000,000		PPL Electric Utilities Corp	3.000		09/15/21		2,104
	1,750,000		PPL Electric Utilities Corp	5.200		07/15/41		2,094
	3,825,000		Progress Energy, Inc	7.050		03/15/19		4,853
	4,625,000		Public Service Co of Colorado	3.200		11/15/20		4,995
	8,800,000		Public Service Co of Oklahoma	5.150		12/01/19		10,278
	2,640,000		Public Service Electric & Gas Co	5.300		05/01/18		3,121
	5,000,000		Public Service Electric & Gas Co	3.500		08/15/20		5,512
	2,300,000	g	Sabine Pass LNG LP	6.500		11/01/20		2,421
	4,275,000		San Diego Gas & Electric Co	3.000		08/15/21		4,532
	3,100,000		San Diego Gas & Electric Co	3.950		11/15/41		3,143
	3,000,000		Sempra Energy	2.300		04/01/17		3,118
	4,000,000		Sempra Energy	6.000		10/15/39		4,974
	2,325,000		Tampa Electric Co	4.100		06/15/42		2,381
	2,600,000		Veolia Environnement	5.250		06/03/13		2,616
	3,680,000		Virginia Electric and Power Co	2.950		01/15/22		3,858
	3,000,000		Williams Partners LP	3.800		02/15/15		3,159
	5,075,000		Williams Partners LP	4.000		11/15/21		5,317
	8,300,000		Williams Partners LP	3.350		08/15/22		8,208
	6,200,000		Williams Partners LP	6.300		04/15/40		7,214
	14,000,000	g	Wpd Investment Holdings Ltd	3.900		05/01/16		14,788
	4,000,000		Xcel Energy, Inc	4.800		09/15/41		4,446
			TOTAL UTILITIES					409,615
			TOTAL CORPORATE BONDS					4,819,291
			(Cost $4,593,908)
GOVERNMENT BONDS - 58.9%
AGENCY SECURITIES - 3.8%
	18,696,300		AMAL Ltd	3.465		08/21/21		20,410
	3,000,000		Amber Circle Funding LTD	3.250		12/04/22		2,993
	4,569,572		Cal Dive I- Title XI, Inc	4.930		02/01/27		5,228
	9,750,000		Federal Farm Credit Bank (FFCB)	1.375		06/25/13		9,781
	15,000,000		Federal Home Loan Bank (FHLB)	1.875		06/21/13		15,060
	20,000,000		Federal Home Loan Mortgage Corp (FHLMC)	3.000		07/28/14		20,722
	19,600,000		Federal National Mortgage Association (FNMA)	1.250		08/20/13		19,684
	23,500,000		FNMA	3.000		09/16/14		24,463
	35,000,000		FNMA	2.625		11/20/14		36,368
	28,305,000		Lutheran Medical Center	1.982		02/20/30		28,693
	1,719,886		National Credit Union Administration	1.840		10/07/20		1,740
	18,220,142		Premier Aircraft Leasing	3.576		02/06/22		20,039
	25,000,000		Private Export Funding Corp (PEFCO)	3.550		04/15/13		25,038
	10,000,000		PEFCO	3.050		10/15/14		10,416
	7,000,000		PEFCO	4.550		05/15/15		7,624

319

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	15,000,000		PEFCO	2.125	%	07/15/16	$	15,793
	50,000,000		PEFCO	1.375		02/15/17		51,300
	17,000,000		PEFCO	5.450		09/15/17		20,336
	10,000,000		PEFCO	2.250		12/15/17		10,607
	5,000,000		PEFCO	4.375		03/15/19		5,897
	17,300,000		PEFCO	1.450		08/15/19		17,493
	35,000,000		PEFCO	4.300		12/15/21		41,320
	30,000,000		PEFCO	2.050		11/15/22		29,725
	2,942,188		Totem Ocean Trailer Express, Inc	4.514		12/18/19		3,158
	62,753,000		Tunisia Government AID Bonds	1.686		07/16/19		62,436
	3,000,000		US Department of Housing and Urban Development (HUD)	5.380		08/01/18		3,454
	18,750,000		KFW	2.625		01/25/22		19,663
	15,000,000		UNM Sandoval Regional Medical Center	4.500		07/20/36		16,310
			TOTAL AGENCY SECURITIES					545,751
FOREIGN GOVERNMENT BONDS - 6.5%
	4,300,000	g	Barbados Government International Bond	7.000		08/04/22		4,504
	4,210,000		Brazilian Government International Bond	5.875		01/15/19		5,062
	9,810,000		Brazilian Government International Bond	2.625		01/05/23		9,418
	825,000		Brazilian Government International Bond	7.125		01/20/37		1,145
	4,500,000		Brazilian Government International Bond	5.625		01/07/41		5,265
	12,200,000		Canada Government International Bond	2.375		09/10/14		12,572
	25,275,000		Canada Government International Bond	0.875		02/14/17		25,447
	3,630,000		Chile Government International Bond	3.875		08/05/20		4,006
	4,840,000		Chile Government International Bond	2.250		10/30/22		4,671
	2,675,000		Colombia Government International Bond	4.375		07/12/21		2,992
	5,275,000		Colombia Government International Bond	2.625		03/15/23		5,064
	4,500,000		Colombia Government International Bond	6.125		01/18/41		5,661
	2,850,000	g	Costa Rica Government International Bond	4.250		01/26/23		2,846
	3,350,000	g	Croatia Government International Bond	6.375		03/24/21		3,603
	2,325,000	g,h	Croatia Government International Bond	5.500		04/04/23		2,315
	5,208,000		Eksportfinans ASA	2.000		09/15/15		5,000
	32,500,000		European Investment Bank	1.125		04/15/15		32,953
	3,500,000		European Investment Bank	4.875		02/15/36		4,167
	15,350,000		Export Development Canada	2.250		05/28/15		15,972
	5,825,000		Export-Import Bank of Korea	1.250		11/20/15		5,829
	2,775,000		Export-Import Bank of Korea	1.750		02/27/18		2,766
	1,900,000		Export-Import Bank of Korea	5.125		06/29/20		2,184
	4,200,000		Export-Import Bank of Korea	4.375		09/15/21		4,642
	3,000,000		Federative Republic of Brazil	6.000		01/17/17		3,492
	3,225,000	g	Guatemala Government Bond	4.875		02/13/28		3,152
	1,650,000		Hungary Government International Bond	4.125		02/19/18		1,576
	2,810,000		Hungary Government International Bond	6.375		03/29/21		2,894
	2,200,000		Hungary Government International Bond	5.375		02/21/23		2,071
	40,200,000		Hydro Quebec	1.375		06/19/17		40,731
	4,500,000	g	Iceland Government International Bond	4.875		06/16/16		4,798
	1,660,000	g	Indonesia Government International Bond	3.750		04/25/22		1,685
	10,075,000		Israel Government International Bond	4.000		06/30/22		10,881
	4,850,000		Israel Government International Bond	4.500		01/30/43		4,662
	4,400,000		Italy Government International Bond	5.375		06/12/17		4,771
	1,610,000		Italy Government International Bond	6.875		09/27/23		1,848
	13,000,000	g	Kommunalbanken AS.	1.375		06/08/17		13,234
	5,800,000	g,i	Kommunalbanken AS.	0.469		02/20/18		5,792

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,800,000		Korea Development Bank	1.500	%	01/22/18	$	4,731
	3,750,000		Korea Development Bank	3.000		09/14/22		3,726
	3,670,000	g	Korea Housing Finance Corp	3.500		12/15/16		3,920
	3,250,000	g	Korea Housing Finance Corp	1.625		09/15/18		3,190
	5,000,000	g	Lithuania Government International Bond	5.125		09/14/17		5,537
	1,000,000		Mexico Government International Bond	5.625		01/15/17		1,150
	4,500,000		Mexico Government International Bond	3.625		03/15/22		4,781
	2,900,000		Mexico Government International Bond	6.750		09/27/34		3,857
	5,000,000		Mexico Government International Bond	6.050		01/11/40		6,187
	4,000,000		Mexico Government International Bond	4.750		03/08/44		4,150
	4,100,000	g	Mongolia Government International Bond	5.125		12/05/22		3,823
	3,750,000	g	Morocco Government International Bond	4.250		12/11/22		3,827
	800,000	g	Morocco Government International Bond	5.500		12/11/42		794
	3,600,000	g	Namibia International Bonds	5.500		11/03/21		3,978
	9,250,000	g	National Bank of Canada	1.650		01/30/14		9,346
	5,000,000	g	Nederlandse Waterschapsbank NV	2.125		02/09/17		5,195
	89,950,000		North American Development Bank	2.400		10/26/22		86,072
	1,135,000		Panama Government International Bond	7.125		01/29/26		1,529
	2,450,000		Panama Government International Bond	6.700		01/26/36		3,265
	1,000,000		Peruvian Government International Bond	7.125		03/30/19		1,283
	1,200,000		Peruvian Government International Bond	7.350		07/21/25		1,694
	1,250,000		Peruvian Government International Bond	6.550		03/14/37		1,694
	6,350,000		Poland Government International Bond	6.375		07/15/19		7,801
	6,167,000		Poland Government International Bond	5.125		04/21/21		7,123
	4,280,000		Poland Government International Bond	5.000		03/23/22		4,890
	4,635,000		Poland Government International Bond	3.000		03/17/23		4,489
	25,000,000	g	Province of Alberta Canada	1.000		06/21/17		25,151
	13,825,000		Province of British Columbia Canada	2.850		06/15/15		14,552
	21,000,000		Province of British Columbia Canada	1.200		04/25/17		21,357
	15,000,000		Province of British Columbia Canada	2.000		10/23/22		14,630
	3,000,000		Province of Manitoba Canada	2.125		04/22/13		3,003
	20,000,000		Province of Manitoba Canada	1.375		04/28/14		20,232
	20,750,000		Province of Manitoba Canada	1.750		05/30/19		21,048
	20,000,000		Province of New Brunswick Canada	2.750		06/15/18		21,500
	12,000,000		Province of Nova Scotia Canada	2.375		07/21/15		12,502
	27,400,000		Province of Ontario Canada	4.100		06/16/14		28,630
	24,250,000		Province of Ontario Canada	2.950		02/05/15		25,356
	35,525,000		Province of Ontario Canada	2.700		06/16/15		37,222
	24,000,000		Province of Ontario Canada	2.300		05/10/16		25,164
	10,000,000		Province of Ontario Canada	4.000		10/07/19		11,408
	2,250,000		Province of Quebec Canada	5.125		11/14/16		2,598
	8,835,000		Province of Quebec Canada	4.625		05/14/18		10,302
	22,500,000		Province of Quebec Canada	3.500		07/29/20		24,919
	20,000,000		Province of Quebec Canada	2.750		08/25/21		20,763
	6,000,000		Province of Quebec Canada	7.500		09/15/29		8,954
	2,500,000	g	Qatar Government International Bond	4.500		01/20/22		2,804
	4,230,000	g	Republic of Indonesia	4.875		05/05/21		4,632
	2,500,000	g	Republic of Indonesia	5.250		01/17/42		2,662
	6,800,000	g	Republic of Latvia	2.750		01/12/20		6,538
	1,070,000	g	Republic of Serbia	7.250		09/28/21		1,185
	3,200,001	i	Republic of Serbia	6.750		11/01/24		3,208
	4,500,000		Republic of Turkey	7.500		07/14/17		5,366
	1,650,000		Republic of Turkey	6.000		01/14/41		1,848

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,200,000	g	Romanian Government International Bond	6.750	%	02/07/22	$	4,888
	5,025,000	g	Romanian Government International Bond	4.375		08/22/23		4,920
	3,900,000	g	Russian Foreign Bond - Eurobond	3.625		04/29/15		4,072
	3,900,000	g	Russian Foreign Bond - Eurobond	3.250		04/04/17		4,080
	3,375,000	g	Russian Foreign Bond - Eurobond	5.000		04/29/20		3,814
	3,670,000	g	Russian Foreign Bond - Eurobond	5.625		04/04/42		4,120
	2,300,000	g	Slovakia Government International Bond	4.375		05/21/22		2,427
	4,502,000		South Africa Government International Bond	6.875		05/27/19		5,481
	3,500,000		South Africa Government International Bond	5.500		03/09/20		3,999
	3,775,000		South Africa Government International Bond	4.665		01/17/24		4,039
	1,600,000		South Africa Government International Bond	6.250		03/08/41		1,940
	15,000,000	g	Spain Government International Bond	4.000		03/06/18		14,859
	2,700,000	g	Sri Lanka Government International Bond	6.250		10/04/20		2,875
	1,630,000	g	Sri Lanka Government International Bond	6.250		07/27/21		1,726
	1,600,000	g	Sri Lanka Government International Bond	5.875		07/25/22		1,660
	7,680,000		Svensk Exportkredit AB	5.125		03/01/17		8,890
	3,650,000		Turkey Government International Bond	5.125		03/25/22		4,015
	2,180,000		United Mexican States	5.875		02/17/14		2,271
	3,500,000		United Mexican States	5.950		03/19/19		4,235
	500,000		United Mexican States	5.125		01/15/20		585
	10,856,030		Uruguay Government International Bond	4.125		11/20/45		10,042
			TOTAL FOREIGN GOVERNMENT BONDS					930,175
MORTGAGE BACKED - 27.9%
	3,000,892	i	Federal Home Loan Mortgage Corp (FHLMC)	2.436		02/01/36		3,208
	4,959,263	i	FHLMC	2.849		07/01/36		5,270
	2,651,939	i	FHLMC	2.441		09/01/36		2,850
	2,931,131	i	FHLMC	2.599		09/01/36		3,126
	3,013,796	i	FHLMC	2.749		09/01/36		3,188
	1,823,209	i	FHLMC	2.858		09/01/36		1,951
	2,177,243	i	FHLMC	5.780		02/01/37		2,343
	6,831,877	i	FHLMC	2.773		03/01/37		7,319
	3,323,981	i	FHLMC	5.987		04/01/37		3,609
	130,358	i	FHLMC	5.920		05/01/37		140
	3,169,370	i	FHLMC	2.760		06/01/37		3,392
	3,489,313	i	FHLMC	3.266		08/01/37		3,702
	2,756,008	i	FHLMC	1.890		09/01/37		2,904
	25,523,031	i	FHLMC (Interest only)	6.357		09/15/41		6,300
	6,309,317		FHLMC	3.000		08/15/42		6,240
	32,000,000	h	FHLMC	3.500		04/15/43		33,674
	143,000,000	h	FHLMC	4.500		04/15/43		152,965
	7,871		Federal Home Loan Mortgage Corp Gold (FGLMC)	7.000		07/01/13		8
	401,898		FGLMC	6.500		12/01/16		429
	2,736,791		FGLMC	5.000		09/01/18		2,930
	1,311,658		FGLMC	4.500		10/01/18		1,431
	973,284		FGLMC	4.500		11/01/18		1,036
	1,112,176		FGLMC	5.500		01/01/19		1,206
	356,032		FGLMC	4.000		06/01/19		379
	1,302,530		FGLMC	4.500		01/01/20		1,390
	1,216,268		FGLMC	4.500		07/01/20		1,323
	792,846		FGLMC	4.500		08/01/20		846
	164,718		FGLMC	7.000		10/01/20		181
	10,561,136		FGLMC	4.500		06/01/21		11,285

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,673,459	FGLMC	4.500	%	06/01/21	$	3,925
	1,350,035	FGLMC	5.000		04/01/23		1,446
	31,460	FGLMC	7.000		05/01/23		37
	287,145	FGLMC	6.000		10/01/23		317
	293,841	FGLMC	6.000		11/01/23		322
	5,098,589	FGLMC	4.000		07/01/24		5,417
	1,579,804	FGLMC	4.500		09/01/24		1,682
	47,487	FGLMC	8.000		01/01/31		55
	81,487	FGLMC	7.000		12/01/31		96
	84,740	FGLMC	7.000		12/01/31		100
	6,307	FGLMC	7.000		01/01/32		7
	341,758	FGLMC	8.000		02/01/32		404
	2,464,338	FGLMC	4.500		07/01/33		2,644
	1,412,014	FGLMC	5.500		11/01/33		1,589
	3,065,053	FGLMC	5.500		12/01/33		3,427
	6,094,441	FGLMC	5.500		12/01/33		6,661
	12,745,125	FGLMC	7.000		12/01/33		15,079
	19,235,462	FGLMC	5.000		01/01/34		20,882
	4,494,025	FGLMC	5.000		05/01/34		4,856
	2,806,431	FGLMC	6.000		09/01/34		3,106
	7,525,715	FGLMC	4.500		10/01/34		8,075
	666,580	FGLMC	5.500		12/01/34		728
	3,369,280	FGLMC	4.500		04/01/35		3,613
	2,917,131	FGLMC	6.000		05/01/35		3,231
	1,008,730	FGLMC	6.000		05/01/35		1,122
	1,846,312	FGLMC	6.000		05/01/35		2,043
	1,259,738	FGLMC	6.000		05/01/35		1,400
	1,317,582	FGLMC	6.000		05/01/35		1,463
	887,377	FGLMC	6.000		05/01/35		980
	5,120,220	FGLMC	7.000		05/01/35		6,058
	2,350,918	FGLMC	5.500		06/01/35		2,564
	7,281,270	FGLMC	5.500		06/01/35		7,937
	1,332,136	FGLMC	5.500		06/01/35		1,452
	1,098,525	FGLMC	5.500		06/01/35		1,197
	2,123,646	FGLMC	6.000		06/01/35		2,358
	4,449,726	FGLMC	4.500		08/01/35		4,769
	511,662	FGLMC	5.000		10/01/35		552
	346,510	FGLMC	6.500		11/01/35		397
	405,973	FGLMC	6.000		01/01/36		444
	1,361,628	FGLMC	5.000		02/01/36		1,470
	582,560	FGLMC	5.500		04/01/36		641
	210,032	FGLMC	6.500		05/01/36		240
	4,013,589	FGLMC	6.500		10/01/36		4,564
	5,850,335	FGLMC	5.500		04/01/37		6,336
	8,123,110	FGLMC	5.500		05/01/37		8,798
	4,353,439	FGLMC	6.000		08/01/37		4,809
	1,851,952	FGLMC	6.000		09/01/37		2,046
	2,759,496	FGLMC	6.500		11/01/37		3,140
	7,059,564	FGLMC	5.000		04/01/38		7,778
	4,530,907	FGLMC	6.000		11/01/38		4,951
	5,308,500	FGLMC	4.500		05/01/39		5,679
	9,012,085	FGLMC	4.000		06/01/39		9,579
	5,041,266	FGLMC	5.000		07/01/39		5,422

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	7,802,722		FGLMC	6.000	%	07/01/39	$	8,702
	19,267,072		FGLMC	4.500		11/01/40		21,485
	21,707,761		FGLMC	4.500		12/01/40		24,118
	101,000,000	h	FGLMC	4.000		04/15/43		107,344
	2,309		Federal National Mortgage Association (FNMA)	5.000		06/01/13		2
	2,508,051		FNMA	4.440		07/01/13		2,508
	1,997,156		FNMA	4.778		10/01/13		2,023
	846,801		FNMA	4.855		02/01/14		852
	4,982,580		FNMA	4.440		04/01/14		5,089
	1,325,341		FNMA	4.570		01/01/15		1,368
	91,630		FNMA	7.500		02/01/15		96
	299,649		FNMA	7.500		04/01/15		313
	203,071		FNMA	7.500		04/01/15		212
	21,578		FNMA	6.500		03/01/16		22
	9,098		FNMA	6.500		04/01/16		10
	159,820		FNMA	6.500		10/01/16		170
	181,199		FNMA	6.500		11/01/16		193
	1,530,996		FNMA	5.000		12/01/17		1,656
	404,042		FNMA	6.500		02/01/18		439
	1,248,063		FNMA	5.500		03/01/18		1,367
	3,180,905		FNMA	5.500		04/01/18		3,483
	274,680		FNMA	5.500		04/01/18		295
	442,595		FNMA	6.500		04/01/18		481
	125,780		FNMA	5.500		05/01/18		135
	5,770,723		FNMA	4.500		12/01/18		6,367
	140,920		FNMA	6.000		01/01/19		154
	36,979		FNMA	6.000		02/01/19		41
	3,209,491		FNMA	5.000		04/01/19		3,468
	1,372,099		FNMA	4.500		06/01/19		1,479
	1,991,200		FNMA	5.000		03/01/20		2,154
	1,477,699		FNMA	5.500		07/01/20		1,618
	703,877		FNMA	4.500		11/01/20		759
	1,729,313		FNMA	5.000		12/01/20		1,867
	3,222,858		FNMA	5.000		03/01/21		3,486
	1,874,329		FNMA	5.500		08/01/21		2,052
	1,264,884		FNMA	4.500		03/01/23		1,361
	87,675		FNMA	8.000		03/01/23		100
	2,441,470		FNMA	4.500		06/01/23		2,628
	3,493,707		FNMA	5.000		07/01/23		3,771
	1,630,594		FNMA	5.000		07/01/23		1,760
	1,665,391		FNMA	5.000		12/01/23		1,830
	533,702		FNMA	5.500		02/01/24		587
	2,649,661		FNMA	4.000		05/01/24		2,837
	1,064,210		FNMA	5.500		07/01/24		1,171
	193,037		FNMA	8.000		07/01/24		230
	1,818,770		FNMA	4.500		08/01/24		1,957
	1,422,689		FNMA	5.500		08/01/24		1,566
	9,032,564		FNMA	4.000		09/01/24		9,670
	4,260,540		FNMA	5.000		10/01/25		4,672
	42,948		FNMA	9.000		11/01/25		52
	11,112,395		FNMA	3.000		05/01/27		11,820
	53,000,000	h	FNMA	2.500		04/25/28		54,979
	93,000,000	h	FNMA	3.000		04/25/28		97,777

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	45,000,000	h	FNMA	4.000	%	04/25/28	$	48,141
	22,000,000	h	FNMA	4.500		04/25/28		23,666
	2,723,278		FNMA	6.500		07/01/32		3,124
	184,897		FNMA	7.000		07/01/32		220
	234,491		FNMA	7.000		07/01/32		279
	2,851,027		FNMA	5.500		01/01/33		3,143
	1,700,547		FNMA	6.000		01/01/33		1,891
	439,118		FNMA	5.000		02/01/33		479
	2,937,416		FNMA	4.500		03/25/33		3,060
	1,548,003		FNMA	4.500		08/01/33		1,673
	1,957,041		FNMA	5.000		08/01/33		2,132
	2,679,107		FNMA	4.500		10/01/33		2,895
	2,051,719		FNMA	5.000		10/01/33		2,236
	467,211		FNMA	5.000		10/01/33		509
	13,379,422		FNMA	5.000		11/01/33		14,527
	3,628,955		FNMA	5.000		11/01/33		3,967
	4,571,418		FNMA	5.000		11/01/33		5,167
	259,037		FNMA	5.000		11/01/33		293
	3,696,369		FNMA	5.500		12/01/33		4,189
	368,149		FNMA	5.500		12/01/33		409
	1,024,653		FNMA	5.500		12/01/33		1,128
	658,409		FNMA	5.000		03/01/34		717
	750,926		FNMA	5.000		03/01/34		818
	1,920,695		FNMA	5.000		03/01/34		2,093
	557,351		FNMA	5.000		03/01/34		607
	4,854,276		FNMA	5.000		03/01/34		5,289
	2,636,070		FNMA	5.500		03/01/34		2,921
	5,419,138		FNMA	5.000		04/01/34		5,895
	17,516,046		FNMA	5.000		08/01/34		19,037
	3,332,602		FNMA	6.000		08/01/34		3,751
	1,056,701		FNMA	5.500		09/01/34		1,186
	1,440,699		FNMA	5.500		09/01/34		1,622
	1,105,882		FNMA	5.500		10/01/34		1,245
	1,242,393		FNMA	5.500		10/01/34		1,399
	1,376,973		FNMA	6.000		12/01/34		1,544
	1,364,870		FNMA	5.500		01/01/35		1,502
	20,571,480		FNMA	5.500		02/01/35		22,650
	2,134,842		FNMA	5.500		04/01/35		2,403
	2,127,629		FNMA	6.000		04/01/35		2,373
	4,602,979		FNMA	4.500		05/01/35		4,974
	8,294,105		FNMA	5.500		05/01/35		9,132
	2,592,304		FNMA	6.000		05/01/35		2,897
	263,993		FNMA	5.500		06/01/35		290
	2,897,509		FNMA	5.500		06/01/35		3,182
	409,360		FNMA	5.500		06/01/35		454
	991,144		FNMA	5.500		06/01/35		1,091
	1,154,753		FNMA	5.500		06/01/35		1,269
	71,515		FNMA	7.500		06/01/35		78
	948,250		FNMA	5.500		07/01/35		1,038
	1,284,945		FNMA	6.000		07/01/35		1,435
	2,482,724		FNMA	4.500		08/01/35		2,677
	4,232,085		FNMA	5.000		08/01/35		4,596
	5,363,586		FNMA	5.500		09/01/35		6,038

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,944,882		FNMA	5.000	%	10/01/35	$	4,284
	2,045,032		FNMA	5.500		11/01/35		2,243
	2,928,903	i	FNMA	2.515		02/01/36		3,124
	4,002,641		FNMA	5.000		02/01/36		4,346
	7,312,987		FNMA	6.000		03/01/36		8,029
	1,652,013	i	FNMA	2.760		07/01/36		1,776
	2,410,472		FNMA	6.500		09/01/36		2,709
	2,682,684		FNMA	6.000		12/01/36		2,945
	3,580,050		FNMA	6.500		03/01/37		4,015
	114,820		FNMA	6.500		03/01/37		129
	2,518,063		FNMA	7.000		04/01/37		2,992
	1,310,874		FNMA	6.500		08/01/37		1,471
	4,064,565		FNMA	6.500		08/01/37		4,557
	2,947,237		FNMA	6.000		09/01/37		3,375
	2,241,311		FNMA	6.000		09/01/37		2,521
	2,071,466		FNMA	6.000		09/01/37		2,372
	3,192,919		FNMA	6.000		09/01/37		3,640
	4,014,544		FNMA	6.500		09/01/37		4,530
	2,754,981		FNMA	6.500		09/01/37		3,067
	1,596,635		FNMA	6.500		09/01/37		1,892
	330,794		FNMA	6.500		09/01/37		370
	3,739,609		FNMA	6.500		09/01/37		4,197
	5,588,574	i	FNMA	2.477		10/01/37		6,016
	1,053,475		FNMA	7.000		11/01/37		1,252
	370,119		FNMA	6.500		01/01/38		426
	87,372		FNMA	6.500		02/01/38		99
	2,006,396		FNMA	6.500		03/01/38		2,319
	440,705		FNMA	6.500		03/01/38		510
	154,547		FNMA	6.500		03/01/38		167
	6,218,781		FNMA	6.000		07/01/38		6,820
	2,521,080	i	FNMA	4.917		10/01/38		2,714
	10,667,406		FNMA	6.000		10/01/38		11,699
	3,536,178		FNMA	4.500		01/01/39		3,811
	2,749,258		FNMA	5.500		01/01/39		2,999
	2,481,186		FNMA	6.000		01/01/39		2,721
	3,460,989		FNMA	6.000		01/01/39		3,796
	4,958,504		FNMA	4.500		02/01/39		5,343
	6,906,923		FNMA	4.500		02/01/39		7,443
	2,985,538		FNMA	5.500		02/01/39		3,256
	7,426,487		FNMA	4.000		04/01/39		8,152
	4,165,483		FNMA	4.500		05/01/39		4,489
	6,518,484		FNMA	4.500		08/01/39		7,024
	11,659,166		FNMA	5.500		08/01/39		12,957
	46,972,766		FNMA	4.500		09/01/40		50,675
	24,760,619		FNMA	4.500		09/01/40		26,712
	11,305,203		FNMA	4.000		11/01/40		12,058
	22,439,475		FNMA	4.500		11/01/40		24,573
	19,672,739		FNMA	4.000		02/01/41		20,983
	15,812,349		FNMA	3.500		10/01/42		16,787
	295,000,000	h	FNMA	3.000		04/25/43		304,265
	356,000,000	h	FNMA	3.500		04/25/43		375,914
	252,000,000	h	FNMA	4.000		04/25/43		268,656
	111,000,000	h	FNMA	4.500		04/25/43		119,585

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	246,000,000	h	FNMA	5.000	%	04/25/43	$	266,487
	243,000,000	h	FNMA	5.500		04/25/43		265,022
	88,000,000	h	FNMA	6.000		04/25/43		96,387
	10,214		Government National Mortgage Association (GNMA)	9.000		06/15/16		11
	4,254		GNMA	9.000		09/15/16		4
	3,029		GNMA	9.000		09/15/16		3
	8,714		GNMA	9.000		11/15/16		9
	2,693		GNMA	9.000		12/15/16		3
	6,149		GNMA	9.000		12/15/16		6
	49,886		GNMA	9.500		12/15/16		54
	23,359		GNMA	8.000		06/15/24		27
	43,381		GNMA	8.500		11/20/30		53
	64,182		GNMA	8.500		12/20/30		79
	1,898,606		GNMA	5.500		07/15/33		2,093
	923,759		GNMA	5.500		11/20/33		1,019
	3,412,000		GNMA	5.500		03/20/35		3,785
	1,844,854		GNMA	5.500		12/20/35		2,029
	1,140,946		GNMA	6.000		10/20/36		1,287
	1,173,011		GNMA	6.000		01/20/37		1,324
	3,334,754		GNMA	6.000		02/20/37		3,763
	3,199,349		GNMA	6.000		12/15/37		3,602
	2,992,918		GNMA	5.000		04/15/38		3,255
	3,599,894		GNMA	5.500		07/15/38		3,941
	4,503,917		GNMA	5.500		07/20/38		4,931
	1,727,600		GNMA	6.000		08/15/38		1,945
	1,537,536		GNMA	6.000		08/20/38		1,731
	2,310,544		GNMA	6.500		11/20/38		2,663
	4,687,091		GNMA	5.000		06/15/39		5,220
	5,245,491		GNMA	5.000		06/15/39		5,841
	10,337,722		GNMA	4.500		07/20/39		11,371
	3,087,086		GNMA	5.000		07/20/39		3,365
	3,566,618		GNMA	4.000		08/15/39		3,892
	1,522,745		GNMA	4.000		11/20/39		1,604
	36,000,000	h	GNMA	3.000		04/15/43		37,631
	142,000,000	h	GNMA	3.500		04/15/43		152,739
	106,000,000	h	GNMA	4.000		04/15/43		115,528
	191,000,000	h	GNMA	4.500		04/15/43		208,817
	48,000,000	h	GNMA	5.500		04/15/43		52,537
	40,000,000	h	GNMA	6.000		04/15/43		45,006
	33,000,000	h	GNMA	3.500		04/20/43		35,284
	152,000,000	h	GNMA	5.000		04/20/43		165,751
	7,792,395		GNMA	6.500		01/15/44		8,340
			TOTAL MORTGAGE BACKED					3,997,664
MUNICIPAL BONDS - 1.5%
	2,000,000		Charlotte-Mecklenburg Hospital Authority	5.000		08/01/15		2,137
	15,000,000		City of New York NY	2.450		04/01/19		15,407
	10,000,000		City of New York NY	2.650		04/01/20		10,307
	8,800,000		New York State Urban Development Corp	0.550		03/15/16		8,790
	8,800,000		New York State Urban Development Corp	1.350		03/15/18		8,863
	2,000,000		Permanent University Fund	1.439		07/01/17		2,032
	2,625,000		Permanent University Fund	1.730		07/01/18		2,687
	4,720,000		Permanent University Fund	1.880		07/01/19		4,791

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,320,000	Permanent University Fund	2.258	%	07/01/20	$	2,364
	2,160,000	Permanent University Fund	2.408		07/01/21		2,203
	2,750,000	Permanent University Fund	2.508		07/01/22		2,802
	2,855,000	Permanent University Fund	2.608		07/01/23		2,903
	3,250,000	Permanent University Fund	2.708		07/01/24		3,306
	2,335,000	Permanent University Fund	2.808		07/01/25		2,376
	3,775,000	Permanent University Fund	2.908		07/01/26		3,845
	4,000,000	Permanent University Fund	3.008		07/01/27		4,079
	18,535,000	Permanent University Fund	3.575		07/01/32		18,059
	12,300,000	State of California	0.850		02/01/15		12,331
	9,000,000	State of California	5.450		04/01/15		9,847
	15,625,000	State of California	1.050		02/01/16		15,660
	11,370,000	State of California	5.950		04/01/16		13,023
	2,915,000	State of Georgia	1.750		07/01/19		2,968
	3,060,000	State of Georgia	2.000		07/01/20		3,128
	3,215,000	State of Georgia	2.150		07/01/21		3,290
	3,905,000	State of Georgia	2.750		07/01/25		3,959
	4,100,000	State of Georgia	2.850		07/01/26		4,149
	4,305,000	State of Georgia	2.950		07/01/27		4,356
	4,520,000	State of Georgia	3.050		07/01/28		4,574
	3,245,000	State of Georgia	3.150		07/01/29		3,252
	13,515,000	University of California	1.296		05/15/18		13,505
	11,735,000	University of California	1.995		05/15/20		11,727
	4,500,000	University of California	2.300		05/15/21		4,462
	6,000,000	University of California	2.570		05/15/22		5,999
		TOTAL MUNICIPAL BONDS					213,181
U.S. TREASURY SECURITIES - 19.2%
	209,872,000	United States Treasury Bond	8.000		11/15/21		319,792
	22,000,000	United States Treasury Bond	6.375		08/15/27		32,739
	49,175,000	United States Treasury Bond	5.250		02/15/29		66,709
	96,511,000	United States Treasury Bond	5.375		02/15/31		134,256
	677,000	United States Treasury Bond	4.500		02/15/36		860
	61,855,000	United States Treasury Bond	3.500		02/15/39		67,258
	26,135,000	United States Treasury Bond	4.375		05/15/41		32,787
	26,434,000	United States Treasury Bond	3.750		08/15/41		29,895
	30,895,000	United States Treasury Bond	2.750		11/15/42		28,636
	54,829,000	United States Treasury Note	3.125		09/30/13		55,643
	68,179,000	United States Treasury Note	2.000		11/30/13		69,015
	45,365,000	United States Treasury Note	0.125		12/31/13		45,358
	15,000,000	United States Treasury Note	0.250		02/28/14		15,012
	60,000,000	United States Treasury Note	0.250		03/31/14		60,045
	6,050,000	United States Treasury Note	0.250		05/31/14		6,054
	36,250,000	United States Treasury Note	0.250		06/30/14		36,276
	92,532,000	United States Treasury Note	0.250		09/30/14		92,579
	60,905,000	United States Treasury Note	0.250		11/30/14		60,929
	160,485,000	United States Treasury Note	0.125		12/31/14		160,209
	175,415,000	United States Treasury Note	0.250		01/31/15		175,456
	147,305,000	United States Treasury Note	0.250		02/28/15		147,316
	12,717,000	United States Treasury Note	1.875		06/30/15		13,171
	15,952,000	United States Treasury Note	1.750		07/31/15		16,494
	171,110,000	United States Treasury Note	0.250		08/15/15		170,909
	88,005,000	United States Treasury Note	0.250		09/15/15		87,881

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	63,788,000		United States Treasury Note	0.250	%	10/15/15	$	63,683
	18,485,000		United States Treasury Note	1.250		10/31/15		18,925
	111,747,000		United States Treasury Note	0.375		11/15/15		111,922
	18,400,000		United States Treasury Note	0.375		03/15/16		18,412
	9,800,000		United States Treasury Note	2.375		03/31/16		10,385
	68,903,000		United States Treasury Note	1.000		10/31/16		70,179
	10,000,000		United States Treasury Note	3.125		10/31/16		10,941
	50,255,300		United States Treasury Note	0.875		01/31/18		50,581
	76,266,600		United States Treasury Note	0.750		02/28/18		76,249
	92,420,000		United States Treasury Note	2.375		05/31/18		99,785
	17,100,000	l	United States Treasury Note	2.250		07/31/18		18,358
	35,365,000		United States Treasury Note	1.750		10/31/18		37,014
	5,625,000		United States Treasury Note	1.375		02/28/19		5,752
	5,550,000		United States Treasury Note	1.000		06/30/19		5,528
	30,000,000		United States Treasury Note	1.000		09/30/19		29,775
	3,870,000		United States Treasury Note	1.250		10/31/19		3,898
	319,500		United States Treasury Note	2.625		11/15/20		349
	111,619,000		United States Treasury Note	2.000		02/15/23		113,032
	70,000,000		United States Treasury Note	3.125		02/15/43		70,131
			TOTAL U.S. TREASURY SECURITIES					2,740,178
			TOTAL GOVERNMENT BONDS					8,426,949
			(Cost $8,185,415)
STRUCTURED ASSETS - 5.4%
ASSET BACKED - 3.0%
	74,500,000		AEP Texas Central Transtion Funding LLC	1.976		06/01/21		76,553
			Series - 2012 1 (Class A2)
	24,000,000		Ally Master Owner Trust	1.000		02/15/18		24,040
			Series - 2013 1 (Class A2)
	18,389,334		AmeriCredit Automobile Receivables Trust	0.710		12/08/15		18,413
			Series - 2012 3 (Class A2)
	5,500,000		AmeriCredit Automobile Receivables Trust	1.570		01/08/19		5,513
			Series - 2013 1 (Class C)
	74,236	g	Asset Backed Funding Corp NIM Trust	5.900		07/26/35		0	^
			Series - 2006 WMC1 (Class N1)
	4,293,447	i	Bear Stearns Asset Backed Securities Trust	0.574		11/25/39		4,193
			Series - 2005 SD3 (Class 2A1)
	2,900,000		Capital Auto Receivables Asset Trust	1.290		04/20/18		2,898
			Series - 2013 1 (Class B)
	3,175,000		Capital Auto Receivables Asset Trust 2013	1.740		10/22/18		3,181
			Series - 2013 1 (Class C)
	32,710,000		CenterPoint Energy Transition Bond Co LLC	3.028		10/15/25		34,393
			Series - 2012 1 (Class A3)
	1,180,137	i	Chase Funding Mortgage Loan Asset-Backed Certificates	5.640		02/25/35		821
			Series - 2004 2 (Class 1M2)
	2,104,336	i	CIT Group Home Equity Loan Trust	6.200		02/25/30		2,098
			Series - 2002 1 (Class AF6)
	585,597	i	Countrywide Asset-Backed Certificates	0.614		05/25/36		581
			Series - 2004 AB2 (Class A3)
	1,322,936	i	Countrywide Asset-Backed Certificates	5.627		10/25/46		1,318
			Series - 2006 15 (Class A2)

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,863,926	g,i	Credit-Based Asset Servicing and Securitization LLC	6.159	%	12/25/36	$	1,889
			Series - 2007 MX1 (Class A1)
	5,525,000	g,i	DB/UBS Mortgage Trust	5.557		11/10/46		6,386
			Series - 2011 LC1A (Class C)
	36,183,975	g	Dominos Pizza Master Issuer LLC	5.216		01/25/42		40,607
			Series - 2012 1A (Class A2)
	5,952,755	g,i	Flagstar Home Equity Loan Trust	5.781		01/25/35		5,868
			Series - 2007 1A (Class AF3)
	2,725,000		Ford Credit Auto Owner Trust	3.210		07/15/17		2,846
			Series - 2011 A (Class D)
	5,250,000		Ford Credit Auto Owner Trust	1.150		07/15/18		5,265
			Series - 2013 A (Class B)
	6,000,000		Ford Credit Auto Owner Trust	1.360		10/15/18		6,017
			Series - 2013 A (Class C)
	1,000,000		Ford Credit Floorplan Master	0.850		01/15/18		998
			Series - 0 1 (Class A1)
	11,565,000	g	Hertz Vehicle Financing LLC	3.740		02/25/17		12,415
			Series - 2010 1A (Class A2)
	5,000,000	g	Hertz Vehicle Financing LLC	1.860		08/25/17		4,991
			Series - 2013 1A (Class B1)
	19,014,596	g	Hyundai Auto Lease Securitization Trust 2011-A	0.680		01/15/15		19,033
			Series - 2012 A (Class A2)
	15,000,000	m	Hyundai Auto Receivables Trust	1.130		09/17/18		14,993
			Series - 2013 A (Class B)
	3,413,115	i	Irwin Home Equity Corp	0.584		02/25/34		3,196
			Series - 2005 A (Class A3)
	18,357,296		Lehman XS Trust	6.500		06/25/46		14,096
			Series - 2006 13 (Class 2A1)
	1,292,942	i	Long Beach Mortgage Loan Trust	0.954		02/25/35		1,281
			Series - 2005 1 (Class M1)
	2,322,541	i	Park Place Securities, Inc	1.149		09/25/34		2,312
			Series - 2004 WHQ1 (Class M1)
	37,570	i	Renaissance Home Equity Loan Trust	0.644		08/25/33		36
			Series - 2003 2 (Class A)
	299,687	i	Residential Asset Securities Corp	6.489		10/25/30		292
			Series - 2001 KS2 (Class AI6)
	1,879,386	i	Residential Asset Securities Corp	0.634		04/25/35		1,841
			Series - 2005 KS3 (Class M3)
	9,671,106		Residential Funding Mortgage Securities II, Inc	5.500		08/25/25		9,630
			Series - 2006 HI5 (Class A3)
	2,565,475	i	Residential Funding Mortgage Securities II, Inc	5.450		08/25/34		2,635
			Series - 2005 HI1 (Class A5)
	2,960,284		Residential Funding Mortgage Securities II, Inc	5.960		02/25/36		3,037
			Series - 2006 HI3 (Class A3)
	2,500,000	i	Residential Funding Mortgage Securities II, Inc	6.010		02/25/36		2,500
			Series - 2006 HI1 (Class M1)
	350,000	i	Residential Funding Mortgage Securities II, Inc	6.060		02/25/36		348
			Series - 2006 HI1 (Class M2)
	24,780,367		Santander Drive Auto Receivables Trust	0.790		08/17/15		24,825
			Series - 2012 4 (Class A2)
	4,000,000		Santander Drive Auto Receivables Trust	1.760		01/15/19		4,028
			Series - 2013 1 (Class C)
	1,908,283	i	Securitized Asset Backed Receivables LLC	0.504		10/25/35		1,871
			Series - 2006 OP1 (Class A2C)

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,250,000	g,m	Sierra Receivables Funding Co LLC	1.590	%	11/20/29	$	1,254
			Series - 2013 1A (Class A)
	3,480,000	g	SLM Student Loan Trust	3.740		02/15/29		3,784
			Series - 2011 B (Class A2)
	1,500,000	g	SLM Student Loan Trust	3.830		01/17/45		1,642
			Series - 2012 A (Class A2)
	3,756,005	i	Soundview Home Equity Loan Trust	0.504		11/25/35		3,695
			Series - 2005 OPT3 (Class A4)
	919,662	i	Structured Asset Investment Loan Trust	0.604		05/25/35		914
			Series - 2005 4 (Class M1)
	3,205,572	i	Structured Asset Investment Loan Trust	0.484		12/25/35		3,187
			Series - 2005 10 (Class A5)
	12,754,972	g,i	Structured Asset Securities Corp Mortgage Loan Trust	0.424		10/25/36		12,296
			Series - 2006 GEL4 (Class A2)
	10,000,000	g	Volvo Financial Equipment LLC	0.740		03/15/17		9,998
			Series - 2013 1A (Class A3)
	8,585,000	g	Vornado DP LLC	5.280		09/13/28		9,734
			Series - 2010 VNO (Class C)
	1,020,941	g,m	Wachovia Amortization Controlled Heloc NIM	5.683		08/12/47		1,021
			Series - 2006 N1 (Class N1)
	2,094,157	g,i	Wachovia Loan Trust	0.564		05/25/35		1,893
			Series - 2005 SD1 (Class A)
	1,838,596	i	Wells Fargo Home Equity Trust	0.344		07/25/36		1,817
			Series - 2006 2 (Class A3)
	5,000,000		World Financial Network Credit Card Master Trust	6.750		04/15/19		5,465
			Series - 2010 A (Class B)
	4,072,363		World Omni Automobile Lease Securitization Trust	0.710		01/15/15		4,077
			Series - 2012 A (Class A2)
			TOTAL ASSET BACKED					428,015
OTHER MORTGAGE BACKED - 2.4%
	1,315,000		Banc of America Commercial Mortgage, Inc	5.675		07/10/46		1,486
			Series - 2006 4 (Class AM)
	6,800,000	i	Bear Stearns Commercial Mortgage Securities	5.582		09/11/41		7,630
			Series - 2006 PW13 (Class AM)
	6,375,000	i	Bear Stearns Commercial Mortgage Securities	5.568		10/12/41		7,163
			Series - 2006 T24 (Class AM)
	426,191		Citicorp Mortgage Securities, Inc	5.750		11/25/36		429
			Series - 2006 6 (Class A2)
	188,665	g,i	Citigroup Commercial Mortgage Trust	0.343		04/15/22		187
			Series - 2007 FL3A (Class A2)
	5,870,000		Citigroup Commercial Mortgage Trust	1.813		09/10/45		6,008
			Series - 2012 GC8 (Class A2)
	13,600,450		Commercial Mortgage Pass Through Certificates	0.724		01/10/46		13,585
			Series - 2013 LC6 (Class A1)
	30,000,000		Commercial Mortgage Pass Through Certificates	0.719		03/10/46		29,965
			Series - 2013 CR6 (Class A1)
	9,330,000	i	Commercial Mortgage Pass Through Certificates	5.650		12/10/49		10,754
			Series - 2007 C9 (Class AM)
	4,422,012		Countrywide Alternative Loan Trust	5.500		08/25/16		4,571
			Series - 2004 30CB (Class 1A15)
	3,514,489		Countrywide Home Loan Mortgage Pass Through Trust	5.250		02/25/16		3,559
			Series - 2005 6 (Class 1A10)

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,155,179		Countrywide Home Loan Mortgage Pass Through Trust	5.250	%	05/25/35	$	1,160
			Series - 2005 12 (Class 1A5)
	3,164,424	g,i	Credit Suisse Mortgage Capital Certificates	0.383		04/15/22		3,104
			Series - 2007 TF2A (Class A1)
	11,500,000	g	Credit Suisse Mortgage Capital Certificates	5.626		05/15/23		13,110
			Series - 2006 OMA (Class D)
	11,235,000	g	Credit Suisse Mortgage Capital Certificates	5.383		02/15/40		12,009
			Series - 2009 RR1 (Class A3C)
	239,039		CS First Boston Mortgage Securities Corp	4.052		05/15/38		239
			Series - 2003 C3 (Class B)
	3,305,000	g	GS Mortgage Securities Corp II	2.933		06/05/31		3,451
			Series - 2012 SHOP (Class A)
	5,000,000	g	GS Mortgage Securities Corp II	4.049		04/10/34		5,353
			Series - 2012 ALOH (Class B)
	5,952,000	g,i,m	GS Mortgage Securities Corp II	4.276		04/10/34		6,295
			Series - 2012 GSMS (Class C)
	5,910,000	g,i	GS Mortgage Securities Corp II	5.227		12/10/43		6,824
			Series - 2010 C2 (Class B)
	4,670,000	g,i	GS Mortgage Securities Corp II	5.227		12/10/43		5,223
			Series - 2010 C2 (Class C)
	7,856,192		GS Mortgage Securities Corp II	0.696		02/10/46		7,857
			Series - 2013 GC10 (Class A1)
	1,240,000		JP Morgan Chase Commercial Mortgage Securities Corp	5.440		05/15/45		1,384
			Series - 2006 LDP8 (Class AM)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	5.252		07/15/46		7,155
			Series - 2011 C4 (Class C)
	6,965,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	5.891		02/15/51		7,584
			Series - 2007 C1 (Class AM)
	203,851	i	JP Morgan Mortgage Trust	4.244		04/25/35		205
			Series - 2005 A2 (Class 5A1)
	386,004		MASTER Asset Securitization Trust	5.000		05/25/35		386
			Series - 2005 1 (Class 2A5)
	3,729,128	i	Merrill Lynch Mortgage Trust	5.107		07/12/38		4,012
			Series - 2005 CIP1 (Class AM)
	9,724,074		Morgan Stanley Bank of America Merrill Lynch Trust	0.738		02/15/46		9,682
			Series - 2013 C7 (Class A1)
	24,610,338		Morgan Stanley Bank of America Merrill Lynch Trust	0.777		12/15/48		24,625
			Series - 2013 C8 (Class A1)
	2,010,000	i	Morgan Stanley Capital I	5.478		02/12/44		2,247
			Series - 2007 HQ11 (Class AM)
	3,550,000	g,i	Morgan Stanley Capital I	5.254		09/15/47		3,812
			Series - 2011 C1 (Class D)
	6,560,000	g,i	Morgan Stanley Capital I	5.254		09/15/47		7,356
			Series - 2011 C1 (Class C)
	3,075,000	i	Morgan Stanley Capital I	5.544		11/12/49		3,441
			Series - 2007 T25 (Class AM)
	4,315,000	g	Queens Center Mortgage Trust	3.376		01/11/37		4,263
			Series - 2013 QCA (Class B)
	1,885,000	g,i	Queens Center Mortgage Trust	3.474		01/11/37		1,836
			Series - 2013 QCA (Class C)
	2,568,340		Residential Accredit Loans, Inc	4.350		03/25/34		2,630
			Series - 2004 QS4 (Class A1)

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	13,545,546	i	Residential Accredit Loans, Inc	0.394	%	05/25/46	$	9,742
			Series - 2006 QO5 (Class 2A1)
	3,614,875		RFMSI Trust	5.500		03/25/35		3,765
			Series - 2005 S2 (Class A6)
	3,908,292	g,i	Springleaf Mortgage Loan Trust	2.667		09/25/57		3,952
			Series - 2012 1A (Class A)
	4,115,768	g,i	Springleaf Mortgage Loan Trust	2.220		10/25/57		4,170
			Series - 0 2A (Class A)
	252,641	i	Structured Adjustable Rate Mortgage Loan Trust	0.964		03/25/35		252
			Series - 2005 6XS (Class A3)
	12,390,000		Wachovia Bank Commercial Mortgage Trust	5.342		12/15/43		14,020
			Series - 2007 C30 (Class A5)
	19,530,000		Wachovia Bank Commercial Mortgage Trust	5.383		12/15/43		21,465
			Series - 2007 C30 (Class AM)
	18,970,000	i	Wachovia Bank Commercial Mortgage Trust	5.818		05/15/46		21,573
			Series - 2007 C34 (Class AM)
	7,595,000		Wachovia Bank Commercial Mortgage Trust	5.500		04/15/47		8,686
			Series - 2007 C31 (Class A5)
	11,645,000	i	Wachovia Bank Commercial Mortgage Trust	5.591		04/15/47		12,877
			Series - 2007 C31 (Class AM)
	1,170,000		Wachovia Bank Commercial Mortgage Trust	5.339		11/15/48		1,317
			Series - 2006 C29 (Class AM)
	4,195,000	i	Wachovia Bank Commercial Mortgage Trust	5.926		02/15/51		4,835
			Series - 2007 C33 (Class A5)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust	5.276		11/15/43		5,491
			Series - 2010 C1 (Class B)
			TOTAL OTHER MORTGAGE BACKED					342,725
			TOTAL STRUCTURED ASSETS					770,740
			(Cost $746,949)
			TOTAL BONDS					14,016,980
			(Cost $13,526,272)

SHARES		COMPANY
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	470,597	Federal Home Loan Mortgage Corp (FHLMC)	8.375	12/30/49	1,562
	1,527,061	Federal National Mortgage Association (FNMA)	8.250	12/30/49	4,963
		TOTAL BANKS			6,525
		TOTAL PREFERRED STOCKS			6,525
		(Cost $49,942)

PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 22.1%
GOVERNMENT AGENCY DEBT - 0.6%
$	79,000,000	w	Federal Home Loan Bank (FHLB)	0.060	04/03/13	79,000
			TOTAL GOVERNMENT AGENCY DEBT			79,000

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATES			MATURITY DATE	VALUE (000)
TREASURY DEBT - 21.5%
$	103,000,000	w	United States Treasury Bill	0.058-0.115		%	04/04/13	$	102,999
	93,500,000	w	United States Treasury Bill	0.089-0.140			04/11/13		93,496
	252,000,000	w	United States Treasury Bill	0.090-0.151			04/18/13		251,984
	171,100,000	w	United States Treasury Bill	0.085-0.113			04/25/13		171,088
	40,300,000	w	United States Treasury Bill	0.063-0.090			05/02/13		40,297
	32,000,000	w	United States Treasury Bill		0.125		05/09/13		31,996
	144,000,000	w	United States Treasury Bill		0.130		05/16/13		143,977
	5,000,000	w	United States Treasury Bill		0.075		05/23/13		4,999
	26,700,000	w	United States Treasury Bill	0.075-0.091			05/30/13		26,698
	259,600,000	w	United States Treasury Bill	0.090-0.095			06/06/13		259,575
	438,000,000	w	United States Treasury Bill	0.085-0.104			06/13/13		437,949
	68,300,000	w	United States Treasury Bill		0.090		06/20/13		68,290
	71,900,000	w	United States Treasury Bill	0.090-0.101			06/27/13		71,888
	41,000,000		United States Treasury Bill		0.093		07/11/13		40,993
	252,300,000	w	United States Treasury Bill	0.090-0.116			07/18/13		252,243
	270,400,000	w	United States Treasury Bill	0.100-0.111			07/25/13		270,337
	100,000,000	w	United States Treasury Bill		0.120		08/15/13		99,967
	285,500,000	w	United States Treasury Bill	0.090-0.126			08/22/13		285,398
	279,000,000	w	United States Treasury Bill	0.091-0.110			09/05/13		278,888
	7,400,000		United States Treasury Bill		0.098		09/12/13		7,397
	144,000,000	w	United States Treasury Bill		0.105		09/19/13		143,930
			TOTAL TREASURY DEBT						3,084,389
			TOTAL SHORT-TERM INVESTMENTS						3,163,389
			(Cost $3,163,244)
			TOTAL INVESTMENTS - 120.2%						17,210,629
			(Cost $16,762,973)
			OTHER ASSETS & LIABILITIES, NET - (20.2)%						(2,895,741	)
			NET ASSETS - 100.0%					$	14,314,888

^	Amount represents less than $1,000.
g	Security exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/2013, the aggregate value of these securities was $1,562,854,000 or 10.9% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
l	All or a portion of these securities have been segregated by the custodian to cover collateral requirements on swap agreements.
m	Indicates a security that has been deemed illiquid.
w	All or a portion of these securities have been segregated by the custodian to cover collateral requirements on mortgage dollar rolls.
	Cost amounts are in thousands.

334

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND

INFLATION-LINKED BOND

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2013

PRINCIPAL			ISSUER	VALUE (000)
GOVERNMENT BONDS - 99.6%
U.S. TREASURY SECURITIES - 99.6%
		k	United States Treasury Inflation Indexed Bonds
$	199,432,233		1.250%, 04/15/14	$	206,039
	298,271,971		2.000%, 07/15/14		315,702
	286,308,433		1.625%, 01/15/15		305,388
	282,415,158		0.500%, 04/15/15		296,668
	254,041,334		1.875%, 07/15/15		278,671
	246,467,494		2.000%, 01/15/16		274,677
	447,937,198		0.125%, 04/15/16		475,863
	233,248,232		2.500%, 07/15/16		269,839
	204,961,239		2.375%, 01/15/17		239,084
	432,823,019		0.125%, 04/15/17		466,807
	212,197,180		2.625%, 07/15/17		255,267
	235,262,355		1.625%, 01/15/18		274,283
	217,402,044		1.375%, 07/15/18		254,632
	197,870,715		2.125%, 01/15/19		241,341
	194,112,000		1.875%, 07/15/19		237,621
	262,260,240		1.375%, 01/15/20		312,397
	288,904,027		1.250%, 07/15/20		345,082
	416,766,444		1.125%, 01/15/21		491,329
	404,361,154		0.625%, 07/15/21		462,488
	331,629,233		0.125%, 01/15/22		360,828
	360,460,800		0.125%, 07/15/22		392,818
	202,504,680		0.125%, 01/15/23		218,436
	382,662,753		2.375%, 01/15/25		513,545
	250,382,899		2.000%, 01/15/26		325,850
	218,881,143		2.375%, 01/15/27		297,866
	203,223,590		1.750%, 01/15/28		258,316
	196,496,531		3.625%, 04/15/28		306,719
	201,517,113		2.500%, 01/15/29		281,494
	249,441,759		3.875%, 04/15/29		405,245
	76,873,850		3.375%, 04/15/32		123,599
	120,008,298		2.125%, 02/15/40		169,052
	160,766,705		2.125%, 02/15/41		227,485
	231,623,246		0.750%, 02/15/42		241,739
	66,600,415		0.625%, 02/15/43		66,757
			United States Treasury Note
	38,000,000		3.125%, 02/15/43		38,071
			TOTAL U.S. TREASURY SECURITIES		10,230,998
			TOTAL GOVERNMENT BONDS
			(Cost $8,812,437)		10,230,998
			TOTAL INVESTMENTS - 99.6%		10,230,998
			(Cost $8,812,437)
			OTHER ASSETS AND LIABILITIES, NET - 0.4%		38,969
			NET ASSETS - 100.0%	$	10,269,967

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

335

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND
SOCIAL CHOICE ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2013

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
BONDS - 38.1%
CORPORATE BONDS - 14.4%
AUTOMOBILES & COMPONENTS - 0.2%
$	2,350,000		BorgWarner, Inc	4.625	%	09/15/20	$	2,585
	10,000,000		Ford Motor Co	4.750		01/15/43		9,307
	4,750,000	e	Johnson Controls, Inc	2.600		12/01/16		4,980
	3,250,000		Johnson Controls, Inc	5.000		03/30/20		3,699
			TOTAL AUTOMOBILES & COMPONENTS					20,571
	BANKS - 3.3%
	5,625,000	g	ABN AMRO Bank NV	1.375		01/22/16		5,628
	6,120,000	g	Bank of Nova Scotia	1.450		07/26/13		6,142
	9,750,000		Bank of Nova Scotia	0.750		10/09/15		9,746
	14,090,000	e,g	Bank of Nova Scotia	1.650		10/29/15		14,472
	9,250,000	i	Bank of Nova Scotia	0.680		03/15/16		9,245
	9,800,000	g	Bank of Nova Scotia	2.150		08/03/16		10,246
	9,750,000	g,i	Bank of Tokyo-Mitsubishi UFJ Ltd	0.738		02/26/16		9,744
	5,000,000		BB&T Corp	3.375		09/25/13		5,073
	19,500,000		BB&T Corp	2.150		03/22/17		20,070
	7,375,000		BB&T Corp	1.600		08/15/17		7,447
	7,000,000	e,g	Canadian Imperial Bank of Commerce	2.750		01/27/16		7,410
	6,000,000		Capital One Bank USA NA	3.375		02/15/23		5,941
	9,250,000	i	Capital One NA	0.734		03/22/16		9,250
	9,250,000		Capital One NA	1.500		03/22/18		9,160
	14,500,000	i	Cooperatieve Centrale Raiffeisen-Boerenleenbank BA	0.760		03/18/16		14,492
	8,700,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA	1.700		03/19/18		8,661
	7,025,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA	3.950		11/09/22		7,073
	4,560,000	g	Depfa ACS Bank	5.125		03/16/37		3,830
	19,250,000		Discover Bank	2.000		02/21/18		19,308
	8,750,000		First Horizon National Corp	5.375		12/15/15		9,518
	2,505,000		First Niagara Financial Group, Inc	6.750		03/19/20		3,003
	2,830,000		First Tennessee Bank NA	5.050		01/15/15		2,965
	9,750,000		HSBC USA, Inc	1.625		01/16/18		9,741
	5,000,000		KeyCorp	6.500		05/14/13		5,034
	9,913,000		Manufacturers & Traders Trust Co	6.625		12/04/17		12,023
	19,250,000	e	Manufacturers & Traders Trust Co	1.450		03/07/18		19,273
	4,644,000	i	Manufacturers & Traders Trust Co	5.585		12/28/20		4,665
	6,076,000	i	Manufacturers & Traders Trust Co	5.629		12/01/21		6,243
	5,000,000	e	Mercantile Bankshares Corp	4.625		04/15/13		5,006
	7,450,000	g	Mizuho Corporate Bank Ltd	1.850		03/21/18		7,469
	4,750,000	g	Mizuho Corporate Bank Ltd	2.950		10/17/22		4,611
	3,500,000	i	National City Bank	0.630		12/15/16		3,475
	4,150,000		People’s United Financial, Inc	3.650		12/06/22		4,230
	4,500,000	i	PNC Bank NA	0.611		01/28/16		4,508
	5,000,000		PNC Funding Corp	3.625		02/08/15		5,265

336

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,750,000		PNC Funding Corp	2.700	%	09/19/16	$	5,001
	5,000,000		PNC Funding Corp	5.125		02/08/20		5,852
	9,750,000		Royal Bank of Canada	0.800		10/30/15		9,763
	11,500,000	e	Royal Bank of Canada	1.200		09/19/17		11,537
	9,750,000		Royal Bank of Canada	1.500		01/16/18		9,856
	9,750,000	g	Skandinaviska Enskilda Banken AB	1.750		03/19/18		9,745
	4,610,000	i	State Street Bank and Trust Co	0.480		12/08/15		4,574
	6,744,000	e	SVB Financial Group	5.375		09/15/20		7,633
	11,000,000	g	Toronto-Dominion Bank	1.625		09/14/16		11,306
	3,000,000		US Bancorp	4.950		10/30/14		3,196
	5,000,000		US Bancorp	2.875		11/20/14		5,195
	14,500,000		US Bancorp	1.650		05/15/17		14,776
	10,250,000		US Bancorp	2.950		07/15/22		10,201
	3,750,000	i	US Bank NA	0.585		10/14/14		3,758
			TOTAL BANKS					402,360
CAPITAL GOODS - 0.7%
	2,500,000		3M Co	6.375		02/15/28		3,448
	5,000,000		Danaher Corp	1.300		06/23/14		5,052
	5,000,000		Danaher Corp	2.300		06/23/16		5,246
	4,340,000		Deere & Co	8.100		05/15/30		6,615
	3,150,000		Masco Corp	7.125		03/15/20		3,677
	3,025,000		National Oilwell Varco, Inc	1.350		12/01/17		3,038
	5,155,000		Pall Corp	5.000		06/15/20		5,769
	8,850,000	g	Pentair Finance S.A.	1.350		12/01/15		8,862
	9,750,000		Precision Castparts Corp	0.700		12/20/15		9,769
	9,250,000		Precision Castparts Corp	2.500		01/15/23		9,139
	3,300,000		Rockwell Collins, Inc	3.100		11/15/21		3,482
	5,000,000		Timken Co	6.000		09/15/14		5,319
	9,500,000	g	Turlock Corp	0.950		11/02/15		9,545
	3,375,000	g	Turlock Corp	1.500		11/02/17		3,385
	2,500,000	g	Turlock Corp	4.000		11/02/32		2,497
			TOTAL CAPITAL GOODS					84,843
COMMERCIAL & PROFESSIONAL SERVICES - 0.3%
	5,000,000		Howard Hughes Medical Institute	3.450		09/01/14		5,235
	10,550,000		International Bank for Reconstruction & Development	0.500		12/16/13		10,572
	9,750,000	g	Standard Chartered plc	3.950		01/11/23		9,711
	4,750,000		Waste Management, Inc	2.600		09/01/16		4,979
	2,730,000		Waste Management, Inc	4.600		03/01/21		3,085
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					33,582
CONSUMER DURABLES & APPAREL - 0.1%
	1,450,000		Mohawk Industries, Inc	3.850		02/01/23		1,474
	1,100,000	e	Whirlpool Corp	8.600		05/01/14		1,189
	2,700,000		Whirlpool Corp	3.700		03/01/23		2,752
	4,175,000		Whirlpool Corp	5.150		03/01/43		4,219
			TOTAL CONSUMER DURABLES & APPAREL					9,634
CONSUMER SERVICES - 0.2%
	4,000,000		American National Red Cross	5.567		11/15/17		4,266
	5,000,000		Andrew W Mellon Foundation	3.950		08/01/14		5,232

337

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,250,000		McDonald’s Corp	5.000	%	02/01/19	$	1,478
	7,550,000		Nature Conservancy	6.300		07/01/19		9,157
	5,145,000		Salvation Army	5.637		09/01/26		5,867
			TOTAL CONSUMER SERVICES					26,000
DIVERSIFIED FINANCIALS - 2.0%
	9,750,000	i	American Express Centurion Bank	0.743		11/13/15		9,776
	1,675,000		American Express Co	7.000		03/19/18		2,092
	9,500,000		American Express Credit Corp	2.375		03/24/17		9,934
	5,000,000		Bank of New York Mellon Corp	3.100		01/15/15		5,232
	4,750,000		Bank of New York Mellon Corp	1.200		02/20/15		4,804
	5,000,000		Bank of New York Mellon Corp	2.950		06/18/15		5,254
	19,750,000	i	Bank of New York Mellon Corp	0.532		10/23/15		19,765
	6,750,000		Bank of New York Mellon Corp	2.300		07/28/16		7,071
	5,450,000	i	Bank of New York Mellon Corp	1.969		06/20/17		5,620
	19,750,000		Bank of New York Mellon Corp	1.300		01/25/18		19,872
	14,250,000	i	Bank of New York Mellon Corp	0.723		03/06/18		14,271
	2,675,000		Bank of New York Mellon Corp	5.450		05/15/19		3,234
	2,850,000		BlackRock, Inc	1.375		06/01/15		2,899
	4,000,000	g	Caisse Centrale Desjardins du Quebec	2.550		03/24/16		4,219
	14,750,000	g	Caisse Centrale Desjardins du Quebec	1.600		03/06/17		15,126
	4,750,000	i	Capital One Financial Corp	1.454		07/15/14		4,802
	6,500,000		Capital One Financial Corp	2.125		07/15/14		6,602
	9,000,000		Capital One Financial Corp	2.150		03/23/15		9,185
	9,250,000	i	Capital One Financial Corp	0.936		11/06/15		9,307
	8,972,000		Capital One Financial Corp	3.150		07/15/16		9,526
	375,000		Discover Financial Services	5.200		04/27/22		421
	5,000,000		Ford Motor Credit Co LLC	3.875		01/15/15		5,198
	5,900,000		Ford Motor Credit Co LLC	7.000		04/15/15		6,510
	9,000,000	e	Ford Motor Credit Co LLC	2.375		01/16/18		8,947
	8,600,000		Ford Motor Credit Co LLC	5.000		05/15/18		9,472
	2,100,000		Invesco Finance plc	3.125		11/30/22		2,143
	5,000,000		John Deere Capital Corp	1.250		12/02/14		5,068
	4,725,000		John Deere Capital Corp	0.875		04/17/15		4,753
	7,000,000		John Deere Capital Corp	0.700		09/04/15		7,009
	4,155,000		John Deere Capital Corp	2.250		06/07/16		4,336
	6,100,000		Northern Trust Corp	4.625		05/01/14		6,379
	9,750,000	g,h	RCI Banque S.A.	3.500		04/03/18		9,759
	3,000,000		State Street Corp	4.300		05/30/14		3,135
			TOTAL DIVERSIFIED FINANCIALS					241,721
ENERGY - 0.6%
	4,450,000		Apache Corp	1.750		04/15/17		4,528
	5,000,000		Apache Corp	4.750		04/15/43		5,112
	4,145,000		Continental Resources, Inc	5.000		09/15/22		4,404
	2,500,000		Devon Energy Corp	6.300		01/15/19		3,018
	5,000,000		EOG Resources, Inc	2.950		06/01/15		5,244
	3,000,000		EOG Resources, Inc	4.100		02/01/21		3,385
	4,750,000		EQT Corp	4.875		11/15/21		5,033
	3,000,000		Hess Corp	6.000		01/15/40		3,354
	1,526,000		Marathon Oil Corp	5.900		03/15/18		1,818
	2,975,000		Newfield Exploration Co	5.625		07/01/24		3,072

338

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,500,000		Noble Energy, Inc	8.250	%	03/01/19	$	3,260
	9,886,000		Noble Holding International Ltd	2.500		03/15/17		10,166
	2,150,000	e	Noble Holding International Ltd	3.950		03/15/22		2,214
	6,975,000		Statoil ASA	1.200		01/17/18		6,999
	6,175,000		Weatherford International Ltd	4.500		04/15/22		6,361
			TOTAL ENERGY					67,968
FOOD & STAPLES RETAILING - 0.1%
	4,750,000		Kroger Co	2.200		01/15/17		4,906
	7,250,000		Safeway, Inc	3.400		12/01/16		7,645
			TOTAL FOOD & STAPLES RETAILING					12,551
FOOD, BEVERAGE & TOBACCO - 0.5%
	9,250,000		ConAgra Foods, Inc	4.650		01/25/43		9,205
	476,000		Dr Pepper Snapple Group, Inc	3.200		11/15/21		495
	3,500,000	i	General Mills, Inc	0.601		01/29/16		3,503
	7,650,000		HJ Heinz Co	2.000		09/12/16		7,741
	12,291,667	h	HJ Heinz Co	1.000		02/15/19		12,396
	1,600,000	g	HJ Heinz Finance Co	7.125		08/01/39		1,782
	2,500,000		Kellogg Co	4.150		11/15/19		2,806
	4,900,000		Kellogg Co	4.000		12/15/20		5,456
	5,000,000		Kraft Foods, Inc	2.625		05/08/13		5,010
	7,250,000	i	PepsiCo, Inc	0.497		02/26/16		7,254
	5,000,000		PepsiCo, Inc	2.500		05/10/16		5,259
	428,000		PepsiCo, Inc	7.900		11/01/18		570
			TOTAL FOOD, BEVERAGE & TOBACCO					61,477
HEALTH CARE EQUIPMENT & SERVICES - 0.3%
	9,500,000		Baxter International, Inc	2.400		08/15/22		9,297
	4,000,000		Becton Dickinson & Co	5.000		05/15/19		4,712
	2,000,000		Becton Dickinson & Co	6.000		05/15/39		2,575
	4,750,000		Becton Dickinson & Co	1.750		11/08/16		4,878
	3,500,000		Medtronic, Inc	4.750		09/15/15		3,844
	2,500,000		Medtronic, Inc	6.500		03/15/39		3,448
	5,000,000		Providence Health & Services	5.050		10/01/14		5,316
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					34,070
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	3,750,000		Clorox Co	3.800		11/15/21		4,032
	4,500,000		Colgate-Palmolive Co	2.300		05/03/22		4,497
	5,725,000		Ecolab, Inc	1.450		12/08/17		5,685
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS					14,214
INSURANCE - 0.7%
	2,000,000		Aetna, Inc	1.500		11/15/17		2,005
	8,150,000	e	Assurant, Inc	2.500		03/15/18		8,092
	4,700,000	e	Assurant, Inc	4.000		03/15/23		4,636
	4,750,000	i	Berkshire Hathaway, Inc	0.990		08/15/14		4,795
	4,750,000		Berkshire Hathaway, Inc	2.200		08/15/16		4,978
	7,275,000		Berkshire Hathaway, Inc	1.900		01/31/17		7,505
	3,500,000		Cincinnati Financial Corp	6.125		11/01/34		4,001

339

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	9,150,000		Markel Corp	3.625	%	03/30/23	$	9,185
	9,150,000		Markel Corp	5.000		03/30/43		9,149
	3,400,000		Principal Financial Group, Inc	1.850		11/15/17		3,435
	2,500,000	g	Principal Life Global Funding I	5.125		10/15/13		2,562
	3,100,000		Progressive Corp	3.750		08/23/21		3,377
	19,950,000	i	Prudential Financial, Inc	5.200		03/15/44		20,000
	3,750,000	g	Swiss Re Treasury US Corp	4.250		12/06/42		3,623
	2,000,000		Travelers Cos, Inc	5.900		06/02/19		2,485
			TOTAL INSURANCE					89,828
MATERIALS - 0.6%
	3,335,000		Air Products & Chemicals, Inc	4.375		08/21/19		3,824
	4,750,000		Air Products & Chemicals, Inc	3.000		11/03/21		4,929
	1,000,000		Ball Corp	6.750		09/15/20		1,103
	2,275,000		Ball Corp	5.000		03/15/22		2,366
	4,000,000		Bemis Co, Inc	6.800		08/01/19		4,843
	7,750,000		Domtar Corp	4.400		04/01/22		7,733
	2,300,000		Eastman Chemical Co	5.500		11/15/19		2,695
	2,650,000		International Paper Co	7.300		11/15/39		3,494
	5,000,000		International Paper Co	6.000		11/15/41		5,817
	5,000,000	e	MeadWestvaco Corp	7.375		09/01/19		6,086
	5,000,000		Praxair, Inc	4.375		03/31/14		5,190
	2,500,000		Praxair, Inc	5.250		11/15/14		2,691
	4,750,000		Praxair, Inc	1.050		11/07/17		4,738
	4,000,000		Praxair, Inc	2.450		02/15/22		4,013
	2,850,000		Rock Tenn Co	3.500		03/01/20		2,913
	2,850,000		Rock Tenn Co	4.000		03/01/23		2,882
	8,000,000		Sherwin-Williams Co	1.350		12/15/17		8,031
			TOTAL MATERIALS					73,348
MEDIA - 0.3%
	4,750,000	g	British Sky Broadcasting Group plc	3.125		11/26/22		4,736
	4,450,000		Discovery Communications LLC	3.300		05/15/22		4,535
	2,825,000		Discovery Communications LLC	4.950		05/15/42		2,904
	3,500,000		Time Warner Cable, Inc	3.500		02/01/15		3,660
	3,200,000		Time Warner Cable, Inc	8.750		02/14/19		4,232
	3,900,000		Time Warner Cable, Inc	8.250		04/01/19		5,077
	3,500,000		Time Warner Cable, Inc	6.550		05/01/37		4,039
	8,000,000		Time Warner Cable, Inc	4.500		09/15/42		7,272
			TOTAL MEDIA					36,455
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.5%
	9,500,000	g,i	AbbVie, Inc	1.056		11/06/15		9,637
	11,425,000	g	AbbVie, Inc	1.750		11/06/17		11,564
	2,695,000		Bristol-Myers Squibb Co	3.250		08/01/42		2,360
	2,250,000		Gilead Sciences, Inc	4.400		12/01/21		2,533
	10,000,000	i	Johnson & Johnson	0.380		05/15/14		10,017
	4,600,000		Johnson & Johnson	2.150		05/15/16		4,815
	4,600,000		Johnson & Johnson	4.500		09/01/40		5,162
	8,080,000	e	Life Technologies Corp	3.500		01/15/16		8,433
	5,000,000		Merck & Co, Inc	2.250		01/15/16		5,221
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					59,742

340

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
REAL ESTATE - 0.7%
$	1,000,000		AMB Property LP	7.625	%	08/15/14	$	1,081
	3,500,000		Boston Properties LP	3.850		02/01/23		3,699
	3,315,000		Duke Realty LP	4.625		05/15/13		3,330
	9,750,000		Equity One, Inc	3.750		11/15/22		9,719
	16,111,000		Federal Realty Investment Trust	5.950		08/15/14		17,192
	1,400,000		Federal Realty Investment Trust	5.900		04/01/20		1,663
	5,500,000		Federal Realty Investment Trust	3.000		08/01/22		5,430
	3,400,000		Healthcare Realty Trust, Inc	5.750		01/15/21		3,875
	5,675,000		Healthcare Realty Trust, Inc	3.750		04/15/23		5,642
	2,500,000		Kilroy Realty Corp	5.000		11/03/15		2,716
	10,050,000		Kilroy Realty LP	3.800		01/15/23		10,293
	3,125,000		Simon Property Group LP	2.800		01/30/17		3,293
	9,500,000	g	Simon Property Group LP	1.500		02/01/18		9,467
	6,150,000		Ventas Realty LP	2.000		02/15/18		6,185
	2,400,000		Ventas Realty LP	3.250		08/15/22		2,389
			TOTAL REAL ESTATE					85,974
RETAILING - 0.2%
	5,000,000		AutoZone, Inc	5.750		01/15/15		5,428
	2,500,000	e	Lowe’s Cos, Inc	3.120		04/15/22		2,590
	2,500,000		Lowe’s Cos, Inc	4.650		04/15/42		2,601
	7,536,000		O’Reilly Automotive, Inc	3.800		09/01/22		7,814
			TOTAL RETAILING					18,433
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.1%
	5,425,000		Intel Corp	1.350		12/15/17		5,444
	7,500,000		Texas Instruments, Inc	2.375		05/16/16		7,850
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					13,294
SOFTWARE & SERVICES - 0.2%
	5,000,000		Adobe Systems, Inc	3.250		02/01/15		5,218
	9,750,000		International Business Machines Corp	0.550		02/06/15		9,765
	5,250,000		International Business Machines Corp	1.250		02/06/17		5,302
			TOTAL SOFTWARE & SERVICES					20,285
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	3,375,000	g	CC Holdings GS V LLC	2.381		12/15/17		3,397
	5,000,000		Xerox Corp	8.250		05/15/14		5,395
	9,750,000	i	Xerox Corp	1.110		05/16/14		9,733
	4,000,000		Xerox Corp	2.950		03/15/17		4,120
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					22,645
TELECOMMUNICATION SERVICES - 0.5%
	4,225,000		American Tower Corp	3.500		01/31/23		4,190
	4,750,000		American Tower REIT, Inc	5.900		11/01/21		5,566
	4,500,000	e	CenturyLink, Inc	5.625		04/01/20		4,601
	3,235,000		Sprint Nextel Corp	6.000		12/01/16		3,510
	9,500,000		Virgin Media Finance plc	4.875		02/15/22		9,619
	9,750,000	i	Virgin Media Investment Holdings Ltd	1.000		02/08/20		9,703

341

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	9,750,000	i	Vodafone Group plc	0.675	%	02/19/16	$	9,740
	9,750,000		Vodafone Group plc	1.500		02/19/18		9,725
	2,300,000	g	Windstream Corp	6.375		08/01/23		2,283
			TOTAL TELECOMMUNICATION SERVICES					58,937
TRANSPORTATION - 0.6%
	4,600,000		Burlington Northern Santa Fe LLC	5.050		03/01/41		4,977
	2,100,000		Burlington Northern Santa Fe LLC	4.950		09/15/41		2,260
	8,550,000		Burlington Northern Santa Fe LLC	4.400		03/15/42		8,508
	6,500,000		CSX Corp	4.750		05/30/42		6,749
	6,300,000		CSX Corp	4.100		03/15/44		5,951
	4,225,000		GATX Corp	3.900		03/30/23		4,257
	2,500,000		Norfolk Southern Corp	5.750		01/15/16		2,823
	5,000,000		Norfolk Southern Corp	3.250		12/01/21		5,221
	12,775,000		Norfolk Southern Corp	3.000		04/01/22		13,083
	6,894,000	g	Norfolk Southern Corp	2.903		02/15/23		6,902
	475,000		Norfolk Southern Corp	5.590		05/17/25		580
	6,425,000	g	Sydney Airport Finance Co Pty Ltd	3.900		03/22/23		6,526
			United Parcel Service of America, Inc (Step Bond 8.375%
	1,360,000	i	until 04/01/20, 7.620% until 04/01/30)	8.375		04/01/30		1,997
	4,200,000		United Parcel Service, Inc	1.125		10/01/17		4,228
			TOTAL TRANSPORTATION					74,062
UTILITIES - 1.4%
	7,850,000		American Water Capital Corp	6.085		10/15/17		9,374
	1,667,000		Arizona Public Service Co	5.050		09/01/41		1,877
	2,000,000		Atmos Energy Corp	8.500		03/15/19		2,698
	1,200,000		Connecticut Light & Power Co	5.500		02/01/19		1,450
	2,000,000		Connecticut Light & Power Co	5.750		03/01/37		2,403
	2,254,413	g	Great River Energy	5.829		07/01/17		2,447
	9,500,000		Idaho Power Co	2.950		04/01/22		9,677
	5,000,000		Idaho Power Co	5.500		04/01/33		5,814
	2,500,000		Idaho Power Co	6.250		10/15/37		3,243
	4,500,000		Idaho Power Co	4.300		04/01/42		4,552
	7,500,000	g	International Transmission Co	4.450		07/15/13		7,577
	9,250,000	g	Narragansett Electric Co	4.170		12/10/42		9,079
	9,750,000	g	Niagara Mohawk Power Corp	4.119		11/28/42		9,503
	5,000,000		Northeast Utilities	5.650		06/01/13		5,041
	10,000,000	i	Northeast Utilities	1.030		09/20/13		10,032
	1,500,000		Northwest Natural Gas Co	5.620		11/21/23		1,809
	5,000,000		Pacific Gas & Electric Co	8.250		10/15/18		6,705
	3,750,000		Pacific Gas & Electric Co	5.400		01/15/40		4,449
	3,000,000		Pepco Holdings, Inc	2.700		10/01/15		3,111
	3,850,000		Portland General Electric Co	6.100		04/15/19		4,804
	630,000		Public Service Co of Colorado	4.750		08/15/41		711
	5,500,000		San Diego Gas & Electric Co	3.000		08/15/21		5,831
	620,000		San Diego Gas & Electric Co	6.000		06/01/39		829
	10,000,000		Sempra Energy	2.300		04/01/17		10,394
	5,000,000		Spectra Energy Capital LLC	5.650		03/01/20		5,882
	2,500,000		Tennessee Gas Pipeline Co	8.000		02/01/16		2,956
	5,000,000	g	Texas Eastern Transmission LP	4.125		12/01/20		5,376
	12,150,000	g	Texas Eastern Transmission LP	2.800		10/15/22		12,141

342

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	14,500,000	g	Topaz Solar Farms LLC	5.750	%	09/30/39	$	15,036
	5,000,000		Washington Gas Light Co	5.440		08/11/25		5,798
			TOTAL UTILITIES					170,599
			TOTAL CORPORATE BONDS					1,732,593
			(Cost $1,669,977)
GOVERNMENT BONDS 22.2%
AGENCY SECURITIES - 3.9%
	7,018,863		Cal Dive I- Title XI, Inc	4.930		02/01/27		8,030
	7,722,388		COP I LLC	3.613		12/05/21		8,477
	5,500,000		Federal Home Loan Bank (FHLB)	5.000		11/17/17		6,543
	4,635,000		Federal Home Loan Mortgage Corp (FHLMC)	2.500		04/23/14		4,750
	5,000,000		FHLMC	1.000		09/29/17		5,035
	6,000,000		Federal National Mortgage Association (FNMA)	1.250		08/20/13		6,026
	3,000,000		FNMA	2.500		05/15/14		3,077
	10,000,000		FNMA	2.625		11/20/14		10,391
	6,400,000		FNMA	1.125		04/27/17		6,517
	1,096,000	j	Government Trust Certificate	0.000		04/01/19		1,003
	4,000,000	j	Government Trust Certificate	0.000		04/01/21		3,431
	2,800,000	j	Overseas Private Investment Corp (OPIC)	0.000		07/12/14		2,821
	3,850,000	j	OPIC	0.000		07/12/14		4,103
	4,700,000	j	OPIC	0.000		07/12/14		5,394
	533,847	j	OPIC	0.000		12/14/14		631
	2,750,000	j	OPIC	0.000		04/30/15		2,764
	12,750,000	j	OPIC	0.000		11/17/16		13,517
	14,500,000	j	OPIC	0.000		11/17/16		15,085
	3,000,000		OPIC	1.900		04/30/18		3,156
	12,000,000		OPIC	1.030		04/15/19		12,242
	2,455,357		OPIC	1.300		06/15/19		2,495
	3,575,194		OPIC	5.142		12/15/23		4,150
	6,101,195		OPIC	2.290		09/15/26		6,221
	3,347,342		OPIC	2.040		12/15/26		3,406
	8,412,564		OPIC	4.440		02/27/27		9,721
	2,500,000		OPIC	2.610		04/15/30		2,477
	4,750,000		OPIC	2.930		05/15/30		4,828
	7,850,000		OPIC	3.040		05/15/30		8,053
	5,000,000		OPIC	3.430		05/15/30		5,302
	4,750,000		OPIC	4.010		05/15/30		5,280
	4,625,000	m	OPIC	2.310		11/15/30		4,594
	1,050,000		Private Export Funding Corp (PEFCO)	4.550		05/15/15		1,144
	9,750,000		PEFCO	2.125		07/15/16		10,265
	16,750,000		PEFCO	1.375		02/15/17		17,186
	8,000,000		PEFCO	2.250		12/15/17		8,486
	5,000,000		PEFCO	4.375		03/15/19		5,897
	14,000,000		PEFCO	1.450		08/15/19		14,157
	17,500,000		PEFCO	4.300		12/15/21		20,660
	20,000,000		PEFCO	2.050		11/15/22		19,816

343

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
			United States Department of Housing and Urban
$	750,000		Development (HUD)	2.050	%	08/01/19	$	786
	1,500,000		HUD	5.050		08/01/13		1,525
	9,000,000		HUD	5.190		08/01/14		9,593
	1,900,000		HUD	2.200		08/01/15		1,980
	5,250,000		HUD	4.330		08/01/15		5,724
	3,894,000		HUD	2.910		08/01/17		4,244
	8,000,000		HUD	4.560		08/01/17		9,208
	10,750,000		HUD	1.770		08/01/18		11,117
	5,007,000		HUD	5.380		08/01/18		5,764
	13,967,000		HUD	4.960		08/01/20		17,052
	13,500,000		HUD	5.050		08/01/21		16,504
	7,523,869		Gate Capital Cayman Two	3.550		06/11/21		8,230
	10,500,000	i	India Government AID Bond	0.399		02/01/27		10,109
	10,000,000		KFW	2.625		01/25/22		10,487
	9,435,000		Lutheran Medical Center	1.982		02/20/30		9,564
	4,590,000	g	Montefiore Medical Center	3.896		05/20/27		5,060
	955,492		National Credit Union Administration	1.840		10/07/20		967
	5,743,604		Premier Aircraft Leasing	3.576		02/06/22		6,317
	3,935,688		Tayarra Ltd	3.628		02/15/22		4,342
	3,845,202		Tricahue Leasing LLC	3.503		11/19/21		4,214
	31,044,000		Tunisia Government AID Bonds	1.686		07/16/19		30,887
	4,900,000		UNM Sandoval Regional Medical Center	4.500		07/20/36		5,328
	2,823,780	g	US Trade Funding Corp	4.260		11/15/14		2,900
	7,142,761		VRG Linhas Aereas S.A.	1.000		06/30/14		7,182
			TOTAL AGENCY SECURITIES					466,215
FOREIGN GOVERNMENT BONDS - 4.0%
	6,300,000		Canada Government International Bond	0.875		02/14/17		6,343
	24,750,000		Council of Europe Development Bank	1.500		01/15/15		25,223
	14,250,000		Council of Europe Development Bank	1.000		03/07/18		14,172
	2,000,000		European Investment Bank	4.875		02/15/36		2,381
	17,875,000		Export-Import Bank of Korea	1.750		02/27/18		17,821
	9,750,000		FMS Wertmanagement AoeR	1.000		11/21/17		9,749
	14,500,000		Hydro Quebec	2.000		06/30/16		15,077
	10,200,000		Hydro Quebec	1.375		06/19/17		10,335
	6,082,000		Hydro Quebec	8.400		01/15/22		8,683
	55,210,000		International Finance Corp	2.250		04/28/14		56,318
	24,500,000		International Finance Corp	0.500		05/15/15		24,548
	24,000,000		International Finance Corp	0.500		05/16/16		23,997
	2,850,000	e	Italy Government International Bond	5.375		06/12/17		3,091
	6,250,000	i	KE Export Leasing LLC	0.543		02/25/25		6,228
	19,750,000	g,i	Kommunalbanken AS.	0.469		02/20/18		19,722
	3,145,000	g	National Bank of Canada	1.650		01/30/14		3,178
	7,500,000	g	National Bank of Canada	2.200		10/19/16		7,857
	25,000,000		North American Development Bank	2.400		10/26/22		23,922
	17,500,000	g	Province of Alberta Canada	1.000		06/21/17		17,606
	4,000,000		Province of British Columbia Canada	2.850		06/15/15		4,210
	21,000,000		Province of British Columbia Canada	1.200		04/25/17		21,357
	10,000,000		Province of Manitoba Canada	1.375		04/28/14		10,116
	15,250,000		Province of Manitoba Canada	1.750		05/30/19		15,469
	19,500,000	e	Province of Manitoba Canada	2.100		09/06/22		19,222

344

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	10,000,000		Province of New Brunswick Canada	2.750	%	06/15/18	$	10,750
	5,000,000		Province of Nova Scotia Canada	2.375		07/21/15		5,209
	8,100,000		Province of Ontario Canada	2.950		02/05/15		8,470
	9,450,000		Province of Ontario Canada	2.700		06/16/15		9,901
	15,000,000		Province of Ontario Canada	2.300		05/10/16		15,727
	9,500,000		Province of Ontario Canada	1.200		02/14/18		9,514
	6,000,000		Province of Ontario Canada	4.000		10/07/19		6,845
	5,000,000	e	Province of Ontario Canada	4.400		04/14/20		5,838
	10,000,000		Province of Quebec Canada	3.500		07/29/20		11,075
	10,000,000		Province of Quebec Canada	2.750		08/25/21		10,381
	14,500,000		Province of Quebec Canada	2.625		02/13/23		14,565
	5,000,000		Province of Quebec Canada	7.500		09/15/29		7,462
			TOTAL FOREIGN GOVERNMENT BONDS					482,362
MORTGAGE BACKED - 9.1%
	1,542,916	i	Federal Home Loan Mortgage Corp (FHLMC)	2.436		02/01/36		1,649
	3,078,163	i	FHLMC	2.849		07/01/36		3,271
	3,977,909	i	FHLMC	2.441		09/01/36		4,275
	975,300	i	FHLMC	2.599		09/01/36		1,040
	1,041,290	i	FHLMC	5.780		02/01/37		1,120
	3,725,071	i	FHLMC	2.773		03/01/37		3,990
	1,815,929	i	FHLMC	5.987		04/01/37		1,972
	1,737,684	i	FHLMC	3.266		08/01/37		1,844
	2,583,209	i	FHLMC	1.890		09/01/37		2,722
	2,137,027		FHLMC	3.000		08/15/42		2,113
	10,000,000	h	FHLMC	3.500		04/15/43		10,523
	104,668		Federal Home Loan Mortgage Corp Gold (FGLMC)	6.500		12/01/16		112
	199,094		FGLMC	6.000		12/01/17		214
	1,543,162		FGLMC	4.500		10/01/18		1,683
	1,755,706		FGLMC	4.500		11/01/18		1,915
	2,147,831		FGLMC	4.500		11/01/18		2,286
	2,794,996		FGLMC	4.500		01/01/19		3,049
	1,032,508		FGLMC	5.500		01/01/19		1,120
	957,599		FGLMC	5.000		02/01/19		1,043
	406,766		FGLMC	4.500		01/01/20		434
	131,194		FGLMC	4.500		07/01/20		143
	137,265		FGLMC	7.000		10/01/20		151
	1,001,852		FGLMC	4.500		06/01/21		1,070
	3,373,696		FGLMC	4.500		06/01/21		3,605
	527,851		FGLMC	4.500		03/01/23		563
	433,746		FGLMC	5.000		04/01/23		464
	12,591		FGLMC	7.000		05/01/23		15
	1,586,926		FGLMC	4.000		07/01/24		1,686
	507,568		FGLMC	4.500		09/01/24		540
	28,226		FGLMC	8.000		01/01/31		33
	1,081,550		FGLMC	4.500		07/01/33		1,160
	1,875,825		FGLMC	5.500		09/01/33		2,093
	1,858,984		FGLMC	5.500		09/01/33		2,046
	3,118,086		FGLMC	5.500		12/01/33		3,408
	5,600,204		FGLMC	7.000		12/01/33		6,626
	897,061		FGLMC	6.000		09/01/34		993
	508,526		FGLMC	5.500		12/01/34		556

345

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	669,436		FGLMC	6.000	%	05/01/35	$	741
	105,859		FGLMC	6.000		05/01/35		117
	706,188		FGLMC	6.000		05/01/35		780
	496,513		FGLMC	6.000		05/01/35		549
	196,034		FGLMC	6.000		05/01/35		216
	1,060,447		FGLMC	6.000		05/01/35		1,173
	2,248,879		FGLMC	7.000		05/01/35		2,661
	805,904		FGLMC	5.500		06/01/35		878
	1,222,239		FGLMC	6.000		08/01/35		1,350
	433,241		FGLMC	4.500		09/01/35		464
	447,705		FGLMC	5.000		10/01/35		483
	261,799		FGLMC	4.500		12/01/35		281
	397,142		FGLMC	5.000		02/01/36		429
	42,006		FGLMC	6.500		05/01/36		48
	672,252		FGLMC	6.500		10/01/36		764
	992,117		FGLMC	6.000		09/01/37		1,096
	861,761		FGLMC	6.500		11/01/37		980
	2,476,245		FGLMC	6.000		02/01/38		2,762
	489,828		FGLMC	6.000		11/01/38		535
	663,562		FGLMC	4.500		05/01/39		710
	2,845,922		FGLMC	4.000		06/01/39		3,025
	1,574,181		FGLMC	5.000		07/01/39		1,693
	5,201,815		FGLMC	6.000		07/01/39		5,801
	5,009,439		FGLMC	4.500		11/01/40		5,586
	5,653,026		FGLMC	4.500		12/01/40		6,281
	9,000,000	h	FGLMC	4.000		04/15/43		9,565
	855		Federal National Mortgage Association (FNMA)	5.000		06/01/13		1
	2,508,051		FNMA	4.440		07/01/13		2,508
	1,964,583		FNMA	4.006		08/01/13		1,964
	1,031,484		FNMA	4.629		05/01/14		1,058
	3,872,219		FNMA	4.265		06/01/14		3,973
	2,808,564		FNMA	4.530		10/01/14		2,917
	2,085		FNMA	8.500		11/01/14		2
	54,605		FNMA	6.500		10/01/16		58
	330,477		FNMA	6.500		04/01/17		357
	677,016		FNMA	5.000		12/01/17		732
	121,901		FNMA	6.500		02/01/18		132
	137,340		FNMA	5.500		04/01/18		148
	26,392		FNMA	5.500		05/01/18		28
	2,283,098		FNMA	5.500		11/01/18		2,468
	1,532,803		FNMA	5.000		12/01/18		1,683
	1,548,515		FNMA	5.000		01/01/19		1,700
	143,537		FNMA	6.000		01/01/19		157
	158,438		FNMA	6.000		02/01/19		174
	503,353		FNMA	4.000		02/25/19		532
	59,754		FNMA	4.500		03/01/19		64
	248,035		FNMA	4.500		05/01/19		267
	428,492		FNMA	4.500		06/01/19		462
	484,346		FNMA	5.000		03/01/20		524
	219,813		FNMA	4.500		11/01/20		237
	505,303		FNMA	5.000		12/01/20		546
	783,938		FNMA	5.000		03/01/21		848

346

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,606,567		FNMA	5.500	%	08/01/21	$	1,759
	555,315		FNMA	4.500		03/01/23		598
	24,046		FNMA	8.000		03/01/23		27
	1,550,888		FNMA	5.000		07/01/23		1,674
	84,125		FNMA	5.000		01/01/24		92
	266,851		FNMA	5.500		02/01/24		293
	935,174		FNMA	4.000		05/01/24		1,001
	53,407		FNMA	8.000		07/01/24		64
	1,094,374		FNMA	4.500		08/01/24		1,178
	4,516,282		FNMA	4.000		09/01/24		4,835
	6,933,068		FNMA	3.000		05/01/27		7,375
	27,000,000	h	FNMA	2.500		04/25/28		28,008
	29,000,000	h	FNMA	3.000		04/25/28		30,490
	13,000,000	h	FNMA	4.000		04/25/28		13,907
	8,000,000	h	FNMA	4.500		04/25/28		8,606
	846,707		FNMA	6.500		07/01/32		971
	117,385		FNMA	5.000		02/01/33		128
	1,468,708		FNMA	4.500		03/25/33		1,530
	706,150		FNMA	5.500		07/01/33		795
	660,031		FNMA	4.500		08/01/33		713
	489,260		FNMA	5.000		08/01/33		533
	223,707		FNMA	4.500		09/01/33		245
	402,858		FNMA	5.000		10/01/33		439
	591,160		FNMA	5.000		10/01/33		644
	992,664		FNMA	5.000		11/01/33		1,122
	1,624,211		FNMA	5.500		11/01/33		1,841
	1,330,513		FNMA	5.500		11/01/33		1,508
	1,241,836		FNMA	5.500		11/01/33		1,402
	929,712		FNMA	5.500		11/01/33		1,054
	994,407		FNMA	5.500		11/01/33		1,123
	166,675		FNMA	5.500		12/01/33		185
	373,698		FNMA	5.500		12/01/33		411
	89,304		FNMA	7.000		01/01/34		106
	171,231		FNMA	5.000		03/01/34		187
	195,241		FNMA	5.000		03/01/34		213
	139,338		FNMA	5.000		03/01/34		152
	447,445		FNMA	5.000		03/01/34		488
	1,445,664		FNMA	5.000		04/01/34		1,573
	17,171		FNMA	4.500		05/01/34		18
	16,299		FNMA	4.500		05/01/34		18
	409,595		FNMA	4.500		05/01/34		442
	18,296		FNMA	4.500		06/01/34		20
	20,859		FNMA	4.500		06/01/34		22
	24,744		FNMA	4.500		06/01/34		27
	94,116		FNMA	4.500		06/01/34		102
	91,348		FNMA	4.500		07/01/34		99
	16,395		FNMA	4.500		07/01/34		18
	38,585		FNMA	4.500		07/01/34		42
	15,648		FNMA	4.500		08/01/34		17
	597,140		FNMA	4.500		08/01/34		645
	26,034		FNMA	4.500		09/01/34		28
	356,993		FNMA	6.000		12/01/34		400

347

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	801,774		FNMA	5.500	%	01/01/35	$	882
	4,932,126		FNMA	5.500		01/01/35		5,552
	260,927		FNMA	5.500		03/01/35		287
	694,472		FNMA	5.500		04/01/35		766
	550,235		FNMA	5.500		04/01/35		619
	559,804		FNMA	5.500		04/01/35		620
	179,548		FNMA	5.500		05/01/35		197
	248,035		FNMA	5.500		05/01/35		272
	1,566,576		FNMA	5.500		05/01/35		1,764
	171,640		FNMA	5.500		05/01/35		188
	1,493,419		FNMA	6.000		05/01/35		1,680
	1,205,627		FNMA	5.500		06/01/35		1,353
	1,805,599		FNMA	5.500		06/01/35		2,033
	962,750		FNMA	5.500		06/01/35		1,084
	36,290		FNMA	7.500		06/01/35		40
	360,893		FNMA	6.000		07/01/35		403
	793,998		FNMA	4.500		08/01/35		856
	1,866,862		FNMA	5.000		08/01/35		2,027
	6,251,802		FNMA	4.000		10/01/35		6,714
	4,153,050		FNMA	5.500		10/01/35		4,661
	748,498	i	FNMA	2.515		02/01/36		798
	256,728		FNMA	6.500		02/01/36		280
	845,982		FNMA	6.500		02/01/36		983
	1,336,135		FNMA	6.000		03/01/36		1,467
	975,708	i	FNMA	2.760		07/01/36		1,049
	1,205,236		FNMA	6.500		09/01/36		1,354
	783,018		FNMA	6.000		12/01/36		860
	5,450,818	i	FNMA	5.838		01/01/37		5,855
	466,769		FNMA	7.000		02/01/37		555
	1,790,025		FNMA	6.500		03/01/37		2,007
	503,613		FNMA	7.000		04/01/37		598
	577,970		FNMA	6.500		08/01/37		649
	376,349		FNMA	6.500		08/01/37		422
	1,109,714		FNMA	6.000		09/01/37		1,271
	1,710,492		FNMA	6.000		09/01/37		1,950
	1,578,877		FNMA	6.000		09/01/37		1,808
	1,200,702		FNMA	6.000		09/01/37		1,350
	142,000		FNMA	6.500		09/01/37		159
	299,369		FNMA	6.500		09/01/37		355
	752,727		FNMA	6.500		09/01/37		849
	346,261		FNMA	6.500		09/01/37		389
	520,048	i	FNMA	2.477		10/01/37		560
	538,596		FNMA	7.000		11/01/37		640
	98,762		FNMA	6.500		01/01/38		114
	23,275		FNMA	6.500		02/01/38		26
	535,033		FNMA	6.500		03/01/38		618
	41,246		FNMA	6.500		03/01/38		45
	117,492		FNMA	6.500		03/01/38		136
	968,423	i	FNMA	4.917		10/01/38		1,043
	1,135,969		FNMA	4.500		01/01/39		1,224
	825,193		FNMA	5.500		01/01/39		900
	796,508		FNMA	6.000		01/01/39		873

348

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,053,154		FNMA	6.000	%	01/01/39	$	1,155
	1,591,775		FNMA	4.500		02/01/39		1,715
	2,700,541		FNMA	4.000		04/01/39		2,964
	2,470,907		FNMA	4.500		04/01/39		2,663
	2,109,168		FNMA	4.500		08/01/39		2,273
	4,229,445		FNMA	5.500		08/01/39		4,700
	5,652,602		FNMA	4.000		11/01/40		6,029
	2,950,698		FNMA	3.500		10/01/42		3,132
	74,000,000	h	FNMA	3.000		04/25/43		76,324
	121,000,000	h	FNMA	3.500		04/25/43		127,768
	72,000,000	h	FNMA	4.000		04/25/43		76,759
	103,000,000	h	FNMA	4.500		04/25/43		110,966
	48,000,000	h	FNMA	5.000		04/25/43		51,998
	31,000,000	h	FNMA	5.500		04/25/43		33,809
	36,011		Government National Mortgage Association (GNMA)	9.000		12/15/17		40
	6,081,160		GNMA	2.300		10/15/19		6,286
	22,615		GNMA	8.000		06/15/22		25
	27,140		GNMA	6.500		08/15/23		31
	10,329		GNMA	6.500		08/15/23		12
	156,668		GNMA	6.500		05/20/31		190
	537,417		GNMA	5.500		07/15/33		592
	305,548		GNMA	6.000		10/20/36		345
	314,128		GNMA	6.000		01/20/37		354
	1,353,779		GNMA	5.500		02/15/37		1,482
	1,669,490		GNMA	6.000		02/20/37		1,884
	910,724		GNMA	5.000		04/15/38		991
	723,146		GNMA	6.000		08/15/38		814
	643,375		GNMA	6.000		08/20/38		724
	1,155,272		GNMA	6.500		11/20/38		1,332
	3,030,798		GNMA	4.500		07/20/39		3,334
	964,064		GNMA	5.000		07/20/39		1,051
	1,145,901		GNMA	4.000		08/15/39		1,250
	41,000,000	h	GNMA	3.000		04/15/43		42,858
	51,000,000	h	GNMA	3.500		04/15/43		54,857
	33,000,000	h	GNMA	4.000		04/15/43		35,966
	24,000,000	h	GNMA	4.500		04/15/43		26,239
	22,000,000	h	GNMA	5.500		04/15/43		24,080
	10,000,000	h	GNMA	6.000		04/15/43		11,252
	11,000,000	h	GNMA	3.500		04/20/43		11,761
	35,000,000	h	GNMA	5.000		04/20/43		38,166
			TOTAL MORTGAGE BACKED					1,094,559
MUNICIPAL BONDS - 2.4%
	6,520,000		American Municipal Power	6.270		02/15/50		7,789
	4,500,000	g	Basin Electric Power Coop	6.127		06/01/41		5,125
	1,090,000		Bay Area Water Supply & Conservation Agency	1.311		10/01/17		1,096
	3,790,000		Bay Area Water Supply & Conservation Agency	2.535		10/01/21		3,843
	3,325,000		Bay Area Water Supply & Conservation Agency	2.735		10/01/22		3,376
	2,635,000		Bay Area Water Supply & Conservation Agency	3.015		10/01/24		2,677
	3,000,000		Broward County FL Water & Sewer Utility Revenue	1.350		10/01/16		3,038
	1,410,000		Broward County FL Water & Sewer Utility Revenue	1.910		10/01/18		1,453
	6,165,000		California Pollution Control Financing Authority	5.000		07/01/27		6,637

349

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,500,000	California Pollution Control Financing Authority	5.000	%	07/01/37	$	4,701
	3,700,000	Calleguas Municipal Water District	2.030		07/01/18		3,767
	2,390,000	Charlotte-Mecklenburg Hospital Authority	5.000		08/01/15		2,554
	1,400,000	Chelan County Public Utility District No	1.398		07/01/14		1,415
	2,300,000	Chelan County Public Utility District No	1.867		07/01/15		2,349
		Chicago Metropolitan Water Reclamation District-Greater
	5,000,000	Chicago	5.720		12/01/38		6,415
	1,250,000	City & County of Honolulu, HI	6.114		07/01/29		1,467
	4,000,000	City of Dallas, TX	5.078		02/15/22		4,911
	1,500,000	City of Dallas, TX	5.195		02/15/35		1,793
	850,000	City of Eugene, OR	6.320		08/01/22		960
	260,000	City of Jersey City NJ	0.942		09/01/14		260
	1,615,000	City of Jersey City NJ	1.192		09/01/15		1,612
	2,200,000	City of Jersey City NJ	1.509		09/01/16		2,197
	2,180,000	City of Jersey City NJ	1.829		09/01/17		2,186
	500,000	City of Jersey City NJ	2.079		09/01/18		502
	925,000	City of Jersey City NJ	2.423		09/01/19		928
	5,000,000	City of New York, NY	4.500		06/01/15		5,226
	4,500,000	City of Seattle WA Municipal Light & Power Revenue	3.500		06/01/30		4,636
	1,000,000	Commonwealth Financing Authority	1.159		06/01/16		1,001
	1,000,000	Commonwealth Financing Authority	2.675		06/01/21		1,013
	1,150,000	Commonwealth Financing Authority	2.875		06/01/22		1,166
	2,310,000	Commonwealth Financing Authority	3.075		06/01/23		2,343
	5,000,000	Commonwealth of Massachusetts	5.456		12/01/39		6,170
	1,435,000	County of Mercer, NJ	5.380		02/01/17		1,504
	4,000,000	Dallas County Hospital District	5.621		08/15/44		5,007
		Douglas County Public Utility District No 1 Wells
	1,680,000	Hydroelectric	5.112		09/01/18		1,846
	1,400,000	Elkhart Redevelopment District	5.500		06/15/18		1,412
	7,005,000	Fiscal Year 2005 Securitization Corp	4.760		08/15/19		7,689
	500,000	Florida Governmental Utility Authority	2.000		10/01/16		499
	1,250,000	Grant County Public Utility District No 2	4.164		01/01/35		1,305
	1,900,000	Guadalupe Valley Electric Coop, Inc	5.671		10/01/32		1,840
	18,455,000	Irvine Ranch Water District Joint Powers Agency	2.388		03/15/14		18,480
	1,000,000	Kansas Development Finance Authority	4.592		05/01/14		1,036
	1,350,000	Kansas Development Finance Authority	4.722		05/01/15		1,450
	1,000,000	Massachusetts Housing Finance Agency	1.306		06/01/16		999
	545,000	Massachusetts Housing Finance Agency	1.776		06/01/17		547
	6,320,000	Massachusetts Housing Finance Agency	4.782		12/01/20		6,846
	5,400,000	Massachusetts St. Water Pollution Abatement	5.192		08/01/40		6,292
	3,500,000	Metropolitan Council	1.750		09/01/20		3,511
	3,000,000	Metropolitan Washington Airports Authority	5.690		10/01/30		3,231
	5,000,000	Metropolitan Water District of Southern California	6.250		07/01/39		5,920
	750,000	Metropolitan Water Reclamation District of Greater Chicago	2.229		12/01/16		782
	5,000,000	Mississippi Development Bank Special Obligation	5.320		07/01/14		5,206
	1,000,000	New York State Environmental Facilities Corp	1.755		06/15/18		1,014
	1,200,000	New York State Environmental Facilities Corp	2.005		06/15/19		1,219
	1,220,000	New York State Environmental Facilities Corp	2.595		06/15/21		1,245
	1,255,000	New York State Environmental Facilities Corp	3.045		06/15/24		1,279
	1,225,000	New York State Environmental Facilities Corp	3.195		06/15/25		1,249
	500,000	New York State Environmental Facilities Corp	3.684		12/15/29		511
	3,000,000	New York State Urban Development Corp	6.500		12/15/18		3,542

350

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	270,000		Newport News Economic Development Authority	5.640	%	01/15/29	$	290
	2,230,000		Newport News Economic Development Authority	5.640		01/15/29		2,514
	1,250,000		Niagara Area Development Corp	4.000		11/01/24		1,285
	765,000		North Wales Water Authority	3.350		11/01/33		729
	4,750,000		Northern California Power Agency	4.320		07/01/24		4,969
	2,450,000		Ohio State Water Development Authority	4.879		12/01/34		2,816
	2,500,000		Oklahoma Capital Improvement Authority	5.180		07/01/14		2,653
	825,000		Pend Oreille County Public Utility District No Box Canyon	0.984		01/01/14		825
	715,000		Pend Oreille County Public Utility District No Box Canyon	1.406		01/01/15		717
	1,000,000		Pend Oreille County Public Utility District No Box Canyon	2.787		01/01/18		1,032
	1,000,000		Pend Oreille County Public Utility District No Box Canyon	3.037		01/01/19		1,034
	1,070,000		Pend Oreille County Public Utility District No Box Canyon	3.621		01/01/21		1,115
	1,220,000		Pend Oreille County Public Utility District No Box Canyon	1.987		01/01/16		1,235
	1,000,000		Pend Oreille County Public Utility District No Box Canyon	2.417		01/01/17		1,021
	11,500,000		Semitropic Improvement District	2.800		12/01/22		11,803
	1,750,000		South Dakota Conservancy District	1.013		08/01/16		1,762
	6,475,000		State of California	1.050		02/01/16		6,489
	7,050,000	h	State of California	4.988		04/01/39		7,108
	5,000,000		State of Connecticut	5.090		10/01/30		5,783
	2,050,000		State of Hawaii	4.670		05/01/14		2,136
	5,000,000		State of Illinois	4.071		01/01/14		5,108
	5,570,000		State of Illinois	4.350		06/01/18		5,913
	5,000,000		State of Michigan	2.302		11/01/14		5,118
	4,505,000		State of Michigan	3.375		12/01/20		4,809
	2,500,000		State of Ohio	5.412		09/01/28		3,100
	3,050,000		State of Oregon	5.030		08/01/14		3,231
	3,265,000		State of Texas	4.900		08/01/20		3,556
	5,000,000		State of Texas	6.072		10/01/29		5,996
	3,165,000		State of Washington	5.050		01/01/18		3,229
	1,033,000		State of Wisconsin	5.700		05/01/26		1,280
	5,000,000		Tuolumne Wind Project Authority	6.918		01/01/34		6,019
			TOTAL MUNICIPAL BONDS					284,742
U.S. TREASURY SECURITIES - 2.8%
	20,000,000		United States Treasury Bond	3.750		08/15/41		22,619
	94,132,000		United States Treasury Bond	2.750		11/15/42		87,249
	2,325,000		United States Treasury Note	0.125		08/31/13		2,325
	2,595,000		United States Treasury Note	0.125		09/30/13		2,595
	2,670,000		United States Treasury Note	3.125		09/30/13		2,710
	5,985,000		United States Treasury Note	0.250		05/31/14		5,989
	20,660,000		United States Treasury Note	0.250		06/30/14		20,674
	22,395,000		United States Treasury Note	2.375		08/31/14		23,078
	3,631,000		United States Treasury Note	2.500		04/30/15		3,799
	17,895,000		United States Treasury Note	1.875		06/30/15		18,534
	9,460,000		United States Treasury Note	0.375		03/15/16		9,466
	37,551,000		United States Treasury Note	0.750		02/28/18		37,542
	12,234,500		United States Treasury Note	1.625		11/15/22		12,018
	87,740,000		United States Treasury Note	2.000		02/15/23		88,850
			TOTAL U.S. TREASURY SECURITIES					337,448
			TOTAL GOVERNMENT BONDS					2,665,326
			(Cost $2,583,823)

351

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
STRUCTURED ASSETS - 1.5%
ASSET BACKED - 0.6%
$	1,500,000		AmeriCredit Automobile Receivables Trust	1.570	%	01/08/19	$	1,504
			Series - 2013 1 (Class C)
	1,115,171	i	Bear Stearns Asset Backed Securities Trust	0.574		11/25/39		1,089
			Series - 2005 SD3 (Class 2A1)
	900,000		Capital Auto Receivables Asset Trust	1.290		04/20/18		899
			Series - 2013 1 (Class B)
	975,000		Capital Auto Receivables Asset Trust 2013	1.740		10/22/18		977
			Series - 2013 1 (Class C)
	3,501,139	i	Chase Funding Loan Acquisition Trust	1.059		06/25/34		3,183
			Series - 2004 OPT1 (Class M1)
	432,924	i	Countrywide Asset-Backed Certificates	5.627		10/25/46		432
			Series - 2006 15 (Class A2)
	1,050,577	g,i	Credit-Based Asset Servicing and Securitization LLC	6.159		12/25/36		1,065
			Series - 2007 MX1 (Class A1)
	1,715,000	g,i	DB/UBS Mortgage Trust	5.557		11/10/46		1,982
			Series - 2011 LC1A (Class C)
	9,850,000	g	Dominos Pizza Master Issuer LLC	5.216		01/25/42		11,054
			Series - 2012 1A (Class A2)
	2,857,322	g,i	Flagstar Home Equity Loan Trust	5.781		01/25/35		2,817
			Series - 2007 1A (Class AF3)
	1,500,000		Ford Credit Auto Owner Trust	3.210		07/15/17		1,566
			Series - 2011 A (Class D)
	3,000,000	g	Hertz Vehicle Financing LLC	3.740		02/25/17		3,220
			Series - 2010 1A (Class A2)
	6,541,105		Lehman XS Trust	6.500		06/25/46		5,023
			Series - 2006 13 (Class 2A1)
	594,300	i	Long Beach Mortgage Loan Trust	0.954		02/25/35		589
			Series - 2005 1 (Class M1)
	900,524	i	Residential Asset Mortgage Products, Inc	4.970		09/25/33		928
			Series - 2003 RZ5 (Class A7)
	660,140	i	Residential Asset Securities Corp	0.634		04/25/35		647
			Series - 2005 KS3 (Class M3)
	6,447,404		Residential Funding Mortgage Securities II, Inc	5.500		08/25/25		6,420
			Series - 2006 HI5 (Class A3)
	2,810,995		Residential Funding Mortgage Securities II, Inc	5.960		02/25/36		2,884
			Series - 2006 HI3 (Class A3)
	2,000,000	i	Residential Funding Mortgage Securities II, Inc	6.010		02/25/36		2,000
			Series - 2006 HI1 (Class M1)
	200,000	i	Residential Funding Mortgage Securities II, Inc	6.060		02/25/36		199
			Series - 2006 HI1 (Class M2)
	2,000,000		Santander Drive Auto Receivables Trust	1.760		01/15/19		2,014
			Series - 2013 1 (Class C)
	717,236	i	Securitized Asset Backed Receivables LLC	0.504		10/25/35		703
			Series - 2006 OP1 (Class A2C)
	4,500,000	g,m	Sierra Receivables Funding Co LLC	1.590		11/20/29		4,513
			Series - 2013 1A (Class A)
	3,045,000	g	SLM Student Loan Trust	3.740		02/15/29		3,311
			Series - 2011 B (Class A2)

352

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,352,162	i	Soundview Home Equity Loan Trust	0.504	%	11/25/35	$	1,330
			Series - 2005 OPT3 (Class A4)
	590,883	i	Structured Asset Investment Loan Trust	0.604		05/25/35		587
			Series - 2005 4 (Class M1)
	861,364	i	Structured Asset Investment Loan Trust	0.484		12/25/35		856
			Series - 2005 10 (Class A5)
	2,860,180	g,i	Structured Asset Securities Corp Mortgage Loan Trust	0.424		10/25/36		2,757
			Series - 2006 GEL4 (Class A2)
	2,750,000	g	Vornado DP LLC	5.280		09/13/28		3,118
			Series - 2010 VNO (Class C)
	747,030	g,m	Wachovia Amortization Controlled Heloc NIM	5.683		08/12/47		747
			Series - 2006 N1 (Class N1)
	1,085,859	g,i	Wachovia Loan Trust	0.564		05/25/35		982
			Series - 2005 SD1 (Class A)
	601,999	i	Wells Fargo Home Equity Trust	0.344		07/25/36		595
			Series - 2006 2 (Class A3)
			TOTAL ASSET BACKED					69,991
OTHER MORTGAGE BACKED - 0.9%
	135,000		Banc of America Commercial Mortgage, Inc	5.675		07/10/46		153
			Series - 2006 4 (Class AM)
	2,200,000	i	Bear Stearns Commercial Mortgage Securities	5.582		09/11/41		2,469
			Series - 2006 PW13 (Class AM)
	2,405,000	i	Bear Stearns Commercial Mortgage Securities	5.568		10/12/41		2,702
			Series - 2006 T24 (Class AM)
	95,893		Citicorp Mortgage Securities, Inc	5.750		11/25/36		97
			Series - 2006 6 (Class A2)
	46,917	g,i	Citigroup Commercial Mortgage Trust	0.343		04/15/22		46
			Series - 2007 FL3A (Class A2)
	5,000,000	i	COBALT CMBS Commercial Mortgage Trust 2007-C2	5.526		04/15/47		5,662
			Series - 2007 C2 (Class AMFX)
	2,515,000	i	Commercial Mortgage Pass Through Certificates	5.650		12/10/49		2,899
			Series - 2007 C9 (Class AM)
	2,166,876		Countrywide Alternative Loan Trust	5.500		08/25/16		2,240
			Series - 2004 30CB (Class 1A15)
	888,967		Countrywide Alternative Loan Trust	5.500		08/25/34		894
			Series - 2004 14T2 (Class A2)
	1,239,224		Countrywide Home Loan Mortgage Pass Through Trust	5.250		02/25/16		1,255
			Series - 2005 6 (Class 1A10)
	1,188,195		Countrywide Home Loan Mortgage Pass Through Trust	4.750		09/25/18		1,215
			Series - 2003 35 (Class 1A1)
	407,168		Countrywide Home Loan Mortgage Pass Through Trust	5.250		05/25/35		409
			Series - 2005 12 (Class 1A5)
	1,082,135	g,i	Credit Suisse Mortgage Capital Certificates	0.383		04/15/22		1,061
			Series - 2007 TF2A (Class A1)
	3,550,000	g	Credit Suisse Mortgage Capital Certificates	5.626		05/15/23		4,047
			Series - 2006 OMA (Class D)
	3,500,000	g	Credit Suisse Mortgage Capital Certificates	5.383		02/15/40		3,741
			Series - 2009 RR1 (Class A3C)
	78,172		CS First Boston Mortgage Securities Corp	4.052		05/15/38		78
			Series - 2003 C3 (Class B)

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,950,000	g,i,m	GS Mortgage Securities Corp II	4.276	%	04/10/34	$	2,062
			Series - 2012 GSMS (Class C)
	2,535,000	g,i	GS Mortgage Securities Corp II	5.227		12/10/43		2,927
			Series - 2010 C2 (Class B)
	1,690,000	g,i	GS Mortgage Securities Corp II	5.227		12/10/43		1,890
			Series - 2010 C2 (Class C)
	826,001	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	0.578		07/15/19		807
			Series - 2007 FL1A (Class A1)
	2,125,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp	5.252		07/15/46		2,355
			Series - 2011 C4 (Class C)
	2,030,000	i	JP Morgan Chase Commercial Mortgage Securities Corp	5.891		02/15/51		2,210
			Series - 2007 C1 (Class AM)
	62,348	i	JP Morgan Mortgage Trust	4.244		04/25/35		63
			Series - 2005 A2 (Class 5A1)
	1,120,000		LB-UBS Commercial Mortgage Trust	5.424		02/15/40		1,276
			Series - 2007 C1 (Class A4)
	157,457		MASTER Asset Securitization Trust	5.000		05/25/35		157
			Series - 2005 1 (Class 2A5)
	1,645,209	i	Merrill Lynch Mortgage Trust	5.107		07/12/38		1,770
			Series - 2005 CIP1 (Class AM)
	24,310,184		Morgan Stanley Bank of America Merrill Lynch Trust	0.738		02/15/46		24,206
			Series - 2013 C7 (Class A1)
	710,000	g,i	Morgan Stanley Capital I	5.254		09/15/47		762
			Series - 2011 C1 (Class D)
	2,185,000	g,i	Morgan Stanley Capital I	5.254		09/15/47		2,450
			Series - 2011 C1 (Class C)
	850,000	i	Morgan Stanley Capital I	5.544		11/12/49		951
			Series - 2007 T25 (Class AM)
	2,750,000	g	OBP Depositor LLC Trust	4.646		07/15/45		3,165
			Series - 2010 OBP (Class A)
	1,200,000	g	Queens Center Mortgage Trust	3.376		01/11/37		1,185
			Series - 2013 QCA (Class B)
	530,000	g,i	Queens Center Mortgage Trust	3.474		01/11/37		516
			Series - 2013 QCA (Class C)
	1,271,992		Residential Accredit Loans, Inc	4.350		03/25/34		1,303
			Series - 2004 QS4 (Class A1)
	4,813,294	i	Residential Accredit Loans, Inc	0.394		05/25/46		3,462
			Series - 2006 QO5 (Class 2A1)
	1,297,647		RFMSI Trust	5.500		03/25/35		1,352
			Series - 2005 S2 (Class A6)
	1,720,397	g,i	Springleaf Mortgage Loan Trust	2.667		09/25/57		1,739
			Series - 2012 1A (Class A)
	1,329,050	g,i	Springleaf Mortgage Loan Trust	2.220		10/25/57		1,347
			Series - 0 2A (Class A)
	85,679	i	Structured Adjustable Rate Mortgage Loan Trust	0.964		03/25/35		86
			Series - 2005 6XS (Class A3)
	1,740,000		Wachovia Bank Commercial Mortgage Trust	5.342		12/15/43		1,969
			Series - 2007 C30 (Class A5)
	4,250,000		Wachovia Bank Commercial Mortgage Trust	5.383		12/15/43		4,671
			Series - 2007 C30 (Class AM)
	6,555,000	i	Wachovia Bank Commercial Mortgage Trust	5.818		05/15/46		7,454
			Series - 2007 C34 (Class AM)

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,505,000		Wachovia Bank Commercial Mortgage Trust	5.500	%	04/15/47	$	2,865
			Series - 2007 C31 (Class A5)
	3,135,000	i	Wachovia Bank Commercial Mortgage Trust	5.591		04/15/47		3,467
			Series - 2007 C31 (Class AM)
	370,000		Wachovia Bank Commercial Mortgage Trust	5.339		11/15/48		417
			Series - 2006 C29 (Class AM)
	1,115,000	i	Wachovia Bank Commercial Mortgage Trust	5.926		02/15/51		1,285
			Series - 2007 C33 (Class A5)
			TOTAL OTHER MORTGAGE BACKED					109,137
			TOTAL STRUCTURED ASSETS					179,128
			(Cost $172,443)
			TOTAL BONDS					4,577,047
			(Cost $4,426,243)

SHARES			COMPANY
COMMON STOCKS - 60.6%
AUTOMOBILES & COMPONENTS - 1.1%
	67,500		Aisin Seiki Co Ltd	2,488
	115,296	*	American Axle & Manufacturing Holdings, Inc	1,574
	127,203		Bayerische Motoren Werke AG.	11,008
	37,510		Bayerische Motoren Werke AG. (Preference)	2,401
	7,792	*	BorgWarner, Inc	603
	187,700		Denso Corp	7,975
	2,084,777		Ford Motor Co	27,415
	8,129	*	Fuel Systems Solutions, Inc	134
	71,000		Fuji Heavy Industries Ltd	1,126
	236,929		Harley-Davidson, Inc	12,628
	361,780		Honda Motor Co Ltd	13,932
	755,892		Johnson Controls, Inc	26,509
	254,000	*,e	Mitsubishi Motors Corp	266
	38,400	*	Modine Manufacturing Co	349
	836,900	e	Nissan Motor Co Ltd	8,118
	232,893	*,e	Peugeot S.A.	1,689
	97,815		Pirelli & C S.p.A.	1,029
	109,499		Renault S.A.	6,870
	3,200		Spartan Motors, Inc	17
	9,200		Stanley Electric Co Ltd	160
	48,870		Superior Industries International, Inc	913
	123,300	e	Suzuki Motor Corp	2,763
	107,999	*	Tenneco, Inc	4,245
	7,617	*,e	Tesla Motors, Inc	289
	2,900	e	Toyoda Gosei Co Ltd	70
	3,500	e	Toyota Boshoku Corp	50
	81,600		Toyota Industries Corp	3,006
	102,500	e	Yamaha Motor Co Ltd	1,388
			TOTAL AUTOMOBILES & COMPONENTS	139,015

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
BANKS - 3.5%
	1,099	e	Arrow Financial Corp	$	27
	502,957	*	Australia & New Zealand Banking Group Ltd		15,000
	1,911,833		Banca Intesa S.p.A.		2,817
	766,621		Banca Intesa S.p.A. RSP		971
	912,901		Banco Bilbao Vizcaya Argentaria S.A.		7,971
	1,398,539		Banco Santander Central Hispano S.A.		9,475
	25,289	e	Bank of Hawaii Corp		1,285
	207,400	e	Bank of Nova Scotia		12,068
	1,020,309		BB&T Corp		32,027
	4,422		Bendigo Bank Ltd		47
	47,100		CapitalSource, Inc		453
	7,221		Capitol Federal Financial		87
	3,360		Cathay General Bancorp		68
	64,852	*	Citizens Republic Bancorp, Inc		1,462
	2,120	e	Columbia Banking System, Inc		47
	165,930		Comerica, Inc		5,965
	1,213		Commerce Bancshares, Inc		50
	301,281		Commonwealth Bank of Australia		21,400
	3,936		Community Bank System, Inc		117
	9,127	e	Cullen/Frost Bankers, Inc		571
	102,941	*	Danske Bank AS		1,846
	236,588		DNB NOR Holding ASA		3,482
	10,051		East West Bancorp, Inc		258
	107,598		First Horizon National Corp		1,149
	2,500	*	Flagstar Bancorp, Inc		35
	16,186		FNB Corp		196
	2,590		Glacier Bancorp, Inc		49
	5,441		Hancock Holding Co		168
	508,500		Hang Seng Bank Ltd		8,170
	3,209,118		HSBC Holdings plc		34,240
	199,570		Hudson City Bancorp, Inc		1,724
	174,643		Huntington Bancshares, Inc		1,291
	1,147		International Bancshares Corp		24
	90,119		KBC Groep NV		3,125
	1,222,260		Keycorp		12,174
	156,974	e	M&T Bank Corp		16,193
	1,300		MainSource Financial Group, Inc		18
	1,800		MB Financial, Inc		44
	2,071,200		Mitsubishi UFJ Financial Group, Inc		12,496
	3,874,400	e	Mizuho Financial Group, Inc		8,314
	403,419		National Australia Bank Ltd		13,017
	6,490		National Penn Bancshares, Inc		69
	1,500		NBT Bancorp, Inc		33
	145,456	e	New York Community Bancorp, Inc		2,087
	644,338		Nordea Bank AB		7,310
	19,938		Old National Bancorp		274
	600	e	Park National Corp		42
	2,728		People’s United Financial, Inc		37
	2,500	*	Pinnacle Financial Partners, Inc		58
	563,484		PNC Financial Services Group, Inc		37,472
	20,000	*	Popular, Inc		552

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	53,363		Provident Financial Services, Inc	$	815
	577,056	e	Radian Group, Inc		6,180
	1,394,777		Regions Financial Corp		11,423
	155,400	e	Resona Holdings, Inc		821
	2,569		Rockville Financial, Inc		33
	250,810		Royal Bank of Canada (Toronto)		15,110
	1,000		S&T Bancorp, Inc		19
	141,200	e	Shizuoka Bank Ltd		1,594
	3,487	*	Signature Bank		275
	221,278	e	Skandinaviska Enskilda Banken AB (Class A)		2,225
	369,841		Standard Chartered plc		9,603
	190,200		Sumitomo Mitsui Financial Group, Inc		7,803
	16,927		Susquehanna Bancshares, Inc		210
	28,454	*	SVB Financial Group		2,019
	45,092	e	Swedbank AB (A Shares)		1,027
	800	*	Texas Capital Bancshares, Inc		32
	157,511		Toronto-Dominion Bank		13,114
	1,700		Trustmark Corp		43
	3,150		Umpqua Holdings Corp		42
	718,558	*	UniCredit S.p.A		3,084
	1,369,982		US Bancorp		46,483
	13,956		Webster Financial Corp		339
	5,690	*	Western Alliance Bancorp		79
	629,923		Westpac Banking Corp		20,272
	1,110		Wintrust Financial Corp		41
	37,356		Zions Bancorporation		934
			TOTAL BANKS		421,475
CAPITAL GOODS - 4.6%
	489,783		3M Co		52,069
	43,017		ACS Actividades Cons y Servicios S.A.		1,008
	13,978		Actuant Corp (Class A)		428
	5,085		Acuity Brands, Inc		353
	1,900	*	Aegion Corp		44
	75,930	e	Alfa Laval AB		1,753
	2,655	*,e	American Superconductor Corp		7
	464,724		Ametek, Inc		20,150
	4,300		Ampco-Pittsburgh Corp		81
	5,965		Apogee Enterprises, Inc		173
	56,219	*	ArvinMeritor, Inc		266
	368,000		Asahi Glass Co Ltd		2,563
	51,800		Assa Abloy AB (Class B)		2,118
	10,969		Astec Industries, Inc		383
	153,909		Atlas Copco AB (A Shares)		4,379
	135,146		Atlas Copco AB (B Shares)		3,424
	293,206		Balfour Beatty plc		1,049
	116,424		Barnes Group, Inc		3,368
	2,120	*	Beacon Roofing Supply, Inc		82
	4,234		Belden CDT, Inc		219
	106,747		Bouygues S.A.		2,899
	29,997		Briggs & Stratton Corp		744
	108,048	*	Builders FirstSource, Inc		633

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	299,328		Bunzl plc	$	5,908
	4,279	*	Chart Industries, Inc		342
	92,756		Cintra Concesiones de Infraestructuras de Transporte S.A.		1,476
	10,768	*	Colfax Corp		501
	144,774		Compagnie de Saint-Gobain		5,376
	210,677		Cummins, Inc		24,398
	46,600		Daikin Industries Ltd		1,834
	635,413		Danaher Corp		39,491
	372,388		Deere & Co		32,018
	67,977		Dover Corp		4,954
	340,868		Eaton Corp		20,878
	4,941		EMCOR Group, Inc		209
	707,138		Emerson Electric Co		39,508
	7,019	*	EnerSys		320
	1,450		ESCO Technologies, Inc		59
	2,909	*	Esterline Technologies Corp		220
	143,829	e	Fastenal Co		7,386
	144,300		Fiat Industrial S.p.A.		1,627
	78,034	*,e	FuelCell Energy, Inc		74
	400		Gardner Denver, Inc		30
	21,353		GEA Group AG.		705
	11,801		Geberit AG.		2,910
	48,876	*	Gibraltar Industries, Inc		892
	1,500		Gorman-Rupp Co		45
	66,177		Graco, Inc		3,840
	41,220	*,e	GrafTech International Ltd		317
	1,400		H&E Equipment Services, Inc		29
	4,485		Heico Corp		195
	14,756	*	Hexcel Corp		428
	32,600	e	Hitachi Construction Machinery Co Ltd		702
	12,125	*	Hochtief AG.		791
	4,000		Houston Wire & Cable Co		52
	521,422		Illinois Tool Works, Inc		31,775
	133,866		Ingersoll-Rand plc		7,364
	2,300		Insteel Industries, Inc		38
	349,846		Invensys plc		1,874
	2,187		Joy Global, Inc		130
	7,600		JTEKT Corp		72
	213,800	e	Komatsu Ltd		5,113
	331,267		Koninklijke Philips Electronics NV		9,801
	320,000		Kubota Corp		4,643
	6,983	*	Layne Christensen Co		149
	36,587		LB Foster Co (Class A)		1,620
	26,197		Lincoln Electric Holdings, Inc		1,419
	27,700	e	LIXIL Group Corp		553
	15,600	*	Makita Corp		695
	659,000		Marubeni Corp		5,045
	463,592		Masco Corp		9,388
	44,896		Metso Oyj		1,918
	482,000		Mitsubishi Electric Corp		3,921
	7,683		MSC Industrial Direct Co (Class A)		659
	114,717	*	NCI Building Systems, Inc		1,993

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	83,000	e	NGK Insulators Ltd	$	887
	28,000	e	Nidec Corp		1,678
	132,713		Nordson Corp		8,752
	86,000	e	NSK Ltd		656
	165,398	*	Owens Corning, Inc		6,522
	287,127		Paccar, Inc		14,517
	25,360		Pall Corp		1,734
	35,299		Parker Hannifin Corp		3,233
	100,159		Pentair Ltd		5,283
	43,401	*,e	Polypore International, Inc		1,744
	175,651		Precision Castparts Corp		33,307
	35,452		Quanex Building Products Corp		571
	118,919	*	Quanta Services, Inc		3,399
	94,352		Rockwell Automation, Inc		8,147
	10,342		Rockwell Collins, Inc		653
	3,300	*	Rush Enterprises, Inc (Class A)		80
	236,880		Sandvik AB		3,654
	2,100		Sauer-Danfoss, Inc		123
	172,100		Scania AB (B Shares)		3,611
	182,088		Schneider Electric S.A.		13,316
	1,857,500		SembCorp Industries Ltd		7,799
	98,000	e	Shimizu Corp		322
	43,110		Skanska AB (B Shares)		781
	42,500		SKF AB (B Shares)		1,038
	69,349		Smiths Group plc		1,328
	17,535		Snap-On, Inc		1,450
	210,153	*	Spirit Aerosystems Holdings, Inc (Class A)		3,991
	13,155		Sulzer AG.		2,251
	161,300		Sumitomo Electric Industries Ltd		1,985
	5,435		TAL International Group, Inc		246
	104,755		Tennant Co		5,087
	18,487		Timken Co		1,046
	6,400		Toyota Tsusho Corp		164
	5,051	*	Trex Co, Inc		248
	38,902	*,e	United Rentals, Inc		2,138
	48,780	*,e	USG Corp		1,290
	176,760		Vinci S.A.		7,979
	436,090		Volvo AB (B Shares)		6,367
	25,258	*	Wabash National Corp		257
	38,428	*	WABCO Holdings, Inc		2,713
	27,403	*,e	WESCO International, Inc		1,990
	125,988		Wolseley plc		6,283
	12,153		Xylem, Inc		335
	6,412		Zardoya Otis S.A.		86
			TOTAL CAPITAL GOODS		552,919
COMMERCIAL & PROFESSIONAL SERVICES - 0.7%
	2,604		ABM Industries, Inc		58
	197,072	*	ACCO Brands Corp		1,317
	80,180		Adecco S.A.		4,398
	14,675		Aggreko plc		398
	176,082		Avery Dennison Corp		7,584

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	205,697		Brambles Ltd	$	1,824
	2,800		Bureau Veritas S.A.		349
	120,569		Capita Group plc		1,648
	2,000		CDI Corp		34
	2,394	*	Copart, Inc		82
	9,841		Corporate Executive Board Co		572
	218,000	e	Dai Nippon Printing Co Ltd		2,083
	24,020		Deluxe Corp		994
	82,626	e	Dun & Bradstreet Corp		6,912
	22,336		Equifax, Inc		1,286
	313,217		Experian Group Ltd		5,429
	2,000		Heidrick & Struggles International, Inc		30
	8,629		Herman Miller, Inc		239
	21,504		HNI Corp		763
	9,308	*	IHS, Inc (Class A)		975
	1,660	*,e	Innerworkings, Inc		25
	7,700		Intertek Group plc		398
	122,588		Iron Mountain, Inc		4,451
	1,800		Kelly Services, Inc (Class A)		34
	29,712		Manpower, Inc		1,685
	2,100	*	Mobile Mini, Inc		62
	1,000	*	On Assignment, Inc		25
	50,982	e	Pitney Bowes, Inc		758
	18,371	e	R.R. Donnelley & Sons Co		221
	34,400		Randstad Holdings NV		1,412
	162,118		Robert Half International, Inc		6,084
	58,400		Secom Co Ltd		3,014
	400		Societe BIC S.A.		47
	1,544	*	Standard Parking Corp		32
	44,676	*	Tetra Tech, Inc		1,362
	179,000	e	Toppan Printing Co Ltd		1,292
	463,660		Tyco International Ltd		14,837
	2,100		Viad Corp		58
	174,423		Waste Management, Inc		6,839
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		79,611
CONSUMER DURABLES & APPAREL - 0.8%
	29,048		Adidas-Salomon AG.		3,020
	4,859	e	American Greetings Corp (Class A)		78
	64,500		Burberry Group plc		1,306
	32,738	e	Callaway Golf Co		217
	30,920		Christian Dior S.A.		5,132
	126,573		Compagnie Financiere Richemont S.A.		9,965
	24,000	e	Electrolux AB (Series B)		612
	7,187	e	Ethan Allen Interiors, Inc		237
	11,700		Gildan Activewear, Inc		467
	573,700	e	Matsushita Electric Industrial Co Ltd		4,320
	520,280		Mattel, Inc		22,783
	7,456	*	Meritage Homes Corp		349
	9,802	*	Mohawk Industries, Inc		1,109
	23,800		Movado Group, Inc		798
	527,519		Nike, Inc (Class B)		31,129

360

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	126,600	e	Nikon Corp	$	2,982
	18,943		Oxford Industries, Inc		1,006
	9,478		Perry Ellis International, Inc		172
	2,000		Pool Corp		96
	27,543	e	Ryland Group, Inc		1,146
	50,000		Sekisui Chemical Co Ltd		552
	96,000		Sekisui House Ltd		1,304
	132,000	*,e	Sharp Corp		378
	234,000	*,e	Sony Corp		4,072
	4,500	*	Unifi, Inc		86
			TOTAL CONSUMER DURABLES & APPAREL		93,316
CONSUMER SERVICES - 1.2%
	41,319		Accor S.A.		1,437
	35,220	*	AFC Enterprises		1,279
	800	*,e	American Public Education, Inc		28
	30,700		Benesse Corp		1,307
	25,421		Brinker International, Inc		957
	1,171		CBRL Group, Inc		95
	7,675	*	Chipotle Mexican Grill, Inc (Class A)		2,501
	103,153	e	Choice Hotels International, Inc		4,364
	8,683	*,e	Coinstar, Inc		507
	514,283		Compass Group plc		6,582
	86,851		Darden Restaurants, Inc		4,488
	1,346		DineEquity, Inc		93
	7,832		Dunkin Brands Group, Inc		289
	369,506		Marriott International, Inc (Class A)		15,604
	595,733		McDonald’s Corp		59,389
	1,300	*	Papa John’s International, Inc		80
	33,974		Royal Caribbean Cruises Ltd		1,129
	11,375	*	Ruby Tuesday, Inc		84
	29,578	*	Sonic Corp		381
	688,843		Starbucks Corp		39,236
	136,400		Starwood Hotels & Resorts Worldwide, Inc		8,693
	9,100		Tim Hortons, Inc (Toronto)		495
	2,200		Universal Technical Institute, Inc		28
	11,685		Whitbread plc		457
			TOTAL CONSUMER SERVICES		149,503
DIVERSIFIED FINANCIALS - 3.4%
	4,200	e	Aeon Credit Service Co Ltd		119
	251,412	*	American Capital Ltd		3,669
	749,602		American Express Co		50,568
	196,682		Ameriprise Financial, Inc		14,486
	12,499		Ares Capital Corp		226
	1,355,087		Bank of New York Mellon Corp		37,929
	146,733		BlackRock, Inc		37,693
	604,072		Capital One Financial Corp		33,194
	1,431,454		Charles Schwab Corp		25,322
	310,655		CME Group, Inc		19,071
	1,362	e	Cohen & Steers, Inc		49
	69,415		Deutsche Boerse AG.		4,211

361

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	749,635		Discover Financial Services	$	33,614
	17,544		Eaton Vance Corp		734
	51,550		Evercore Partners, Inc (Class A)		2,145
	229,873		Franklin Resources, Inc		34,667
	91,164	*,e	IntercontinentalExchange, Inc		14,866
	1,750	*	International Assets Holding Corp		31
	508,141		Invesco Ltd		14,716
	3,030	*	Investment Technology Group, Inc		33
	61,166	e	Janus Capital Group, Inc		575
	60,728		Kinnevik Investment AB (Series B)		1,474
	62,663	e	Legg Mason, Inc		2,015
	7,400	e	Main Street Capital Corp		237
	266,200		Mitsubishi UFJ Lease & Finance Co Ltd		1,395
	76,231		Nasdaq Stock Market, Inc		2,462
	135,919	*	NewStar Financial, Inc		1,798
	240,120		Northern Trust Corp		13,101
	250,268		NYSE Euronext		9,670
	22,527	*,e	PHH Corp		495
	8,995	e	Prospect Capital Corp		98
	15,778	*	Safeguard Scientifics, Inc		249
	489,115		State Street Corp		28,902
	5,000	*	SWS Group, Inc		30
	287,043		T Rowe Price Group, Inc		21,491
	16,754	e	Triangle Capital Corp		469
			TOTAL DIVERSIFIED FINANCIALS		411,804
ENERGY - 5.6%
	40,000	e	Acergy S.A.		940
	46,000		Aker Kvaerner ASA		863
	6,000		Alon USA Energy, Inc		114
	52,019		AMEC plc		836
	315,610		Apache Corp		24,352
	45,500	e	ARC Energy Trust		1,202
	13,661	*	Atwood Oceanics, Inc		718
	23,645	*,e	Basic Energy Services, Inc		323
	854,626		BG Group plc		14,706
	270,701	*	Cameron International Corp		17,650
	1,618	e	CARBO Ceramics, Inc		147
	14,005	*	Carrizo Oil & Gas, Inc		361
	287,400	e	Cenovus Energy, Inc (Toronto)		8,901
	165,841	*	Cheniere Energy, Inc		4,644
	98,049		Cimarex Energy Co		7,397
	260,946	*,e	Clean Energy Fuels Corp		3,392
	58,723	*	Compagnie Generale de Geophysique S.A.		1,324
	31,699	*	Comstock Resources, Inc		515
	29,437	*	Concho Resources, Inc		2,868
	46,605		Contango Oil & Gas Co		1,868
	146,657	*	Continental Resources, Inc		12,749
	163,000	e	Cosmo Oil Co Ltd		345
	57,300	e	Crescent Point Energy Corp		2,163
	190,536		Crosstex Energy, Inc		3,670
	17,312	*	CVR Energy, Inc		894

362

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	124,890	*,m	CVR Energy, Inc (Contingent value right)	$	0	^
	11,452	*	Dawson Geophysical Co		344
	8,640		Delek Group Ltd		2,434
	2,500		Delek US Holdings, Inc		99
	486,380	*	Denbury Resources, Inc		9,071
	430,963	*	Devon Energy Corp		24,315
	268,074		Enbridge, Inc		12,482
	1,150		Energen Corp		60
	72,600	e	Enerplus Resources Fund		1,061
	624,899		ENI S.p.A.		13,991
	287,176		EOG Resources, Inc		36,779
	320,742		Equitable Resources, Inc		21,730
	11,351	*	Exterran Holdings, Inc		306
	203,588	*	FMC Technologies, Inc		11,073
	19,000		Fugro NV		1,053
	183,458	e	Galp Energia SGPS S.A.		2,876
	8,642	*	Geospace Technologies Corp		933
	65,141	*,e	Goodrich Petroleum Corp		1,019
	22,906		Gulf Island Fabrication, Inc		482
	187,072	*	Hercules Offshore, Inc		1,388
	366,724		Hess Corp		26,261
	155,177	*	Hornbeck Offshore Services, Inc		7,210
	16,000	e	Idemitsu Kosan Co Ltd		1,396
	670		Inpex Holdings, Inc		3,608
	60,455	*	ION Geophysical Corp		412
	44,211	*	Key Energy Services, Inc		357
	6,186	*	Kinder Morgan Management LLC		543
	676,402	*	Kodiak Oil & Gas Corp		6,149
	749,902		Marathon Oil Corp		25,287
	396,815		Marathon Petroleum Corp		35,555
	6,367	*	Matrix Service Co		95
	458,618		National Oilwell Varco, Inc		32,447
	3,769	*	Natural Gas Services Group, Inc		73
	126,731	e	Neste Oil Oyj		1,791
	180,694		Noble Corp		6,893
	212,991		Noble Energy, Inc		24,635
	29,282	*,e	Northern Oil And Gas, Inc		421
	21,344	*	Oasis Petroleum, Inc		813
	34,436		Oceaneering International, Inc		2,287
	28,748	*	Oil States International, Inc		2,345
	209,409		OMV AG.		8,929
	516,973		Origin Energy Ltd		7,195
	64,100		Pacific Rubiales Energy Corp (Toronto)		1,353
	116,848	*	Parker Drilling Co		500
	37,146	*	PDC Energy, Inc		1,841
	141,200	e	Penn West Energy Trust		1,518
	68,060	*,e	Petroquest Energy, Inc		302
	423,386		Phillips 66		29,624
	87,693	*	Pioneer Energy Services Corp		723
	170,278		Pioneer Natural Resources Co		21,157
	37,029	*	Plains Exploration & Production Co		1,758
	282,498		Questar Market Resources, Inc		8,995

363

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	150,641	*,e	Quicksilver Resources, Inc	$	339
	63,509		Range Resources Corp		5,147
	2,289,845		Rentech, Inc		5,381
	298,681		Repsol YPF S.A.		6,068
	36,777	*	Rex Energy Corp		606
	48,811		Saipem S.p.A.		1,500
	431,628		Santos Ltd		5,606
	894		SEACOR Holdings, Inc		66
	58,600		Showa Shell Sekiyu KK		416
	337,955	*	Southwestern Energy Co		12,592
	954,987		Spectra Energy Corp		29,366
	108,961		St. Mary Land & Exploration Co		6,453
	403,405		Statoil ASA		9,848
	430,104		Suncor Energy, Inc		12,888
	88,722	*	Superior Energy Services		2,304
	364,800		Talisman Energy, Inc		4,460
	22,440		Technip S.A.		2,302
	159,456		Tenaris S.A.		3,247
	5,071	*	Tetra Technologies, Inc		52
	262,191		Tullow Oil plc		4,908
	80,823	*,e	Ultra Petroleum Corp		1,625
	46,868	*	Unit Corp		2,135
	25,000	*,e	Vantage Drilling Co		44
	933,272	*	Weatherford International Ltd		11,330
	320,238	e	Western Refining, Inc		11,340
	130,361	*	Whiting Petroleum Corp		6,628
	443,674		Williams Cos, Inc		16,620
			TOTAL ENERGY		680,182
FOOD & STAPLES RETAILING - 0.9%
	173,400	e	Aeon Co Ltd		2,245
	179,256		Carrefour S.A.		4,910
	844		Casey’s General Stores, Inc		49
	13,576		Casino Guichard Perrachon S.A.		1,428
	5,000		Colruyt S.A.		242
	31,318		Delhaize Group		1,710
	275,568		J Sainsbury plc		1,587
	59,300		Jeronimo Martins SGPS S.A.		1,155
	6,988		Kesko Oyj (B Shares)		219
	93,117		Koninklijke Ahold NV		1,428
	377,848		Kroger Co		12,522
	3,600		Lawson, Inc		276
	42,800	e	Loblaw Cos Ltd		1,801
	68,666		Metro AG.		1,955
	615		Pricesmart, Inc		48
	316,705	e	Safeway, Inc		8,345
	149,700		Seven & I Holdings Co Ltd		4,967
	18,582		Spartan Stores, Inc		326
	807,032		Sysco Corp		28,383
	1,918,076		Tesco plc		11,150
	1,270	*	United Natural Foods, Inc		63
	93,077		Whole Foods Market, Inc		8,074

364

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	386,938		WM Morrison Supermarkets plc	$	1,626
	265,072		Woolworths Ltd		9,358
			TOTAL FOOD & STAPLES RETAILING		103,867
FOOD, BEVERAGE & TOBACCO - 2.6%
	161,000		Ajinomoto Co, Inc		2,367
	51,945		Aryzta AG.		3,070
	191,588		Associated British Foods plc		5,541
	16,050		Bunge Ltd		1,185
	2,423	e	Calavo Growers, Inc		70
	233,572	e	Campbell Soup Co		10,595
	131,532		ConAgra Foods, Inc		4,710
	19,775	*	Darling International, Inc		355
	30,775		Dr Pepper Snapple Group, Inc		1,445
	9,693		Flowers Foods, Inc		319
	787,650		General Mills, Inc		38,839
	70,022	*,e	Green Mountain Coffee Roasters, Inc		3,974
	171,325		Groupe Danone		11,929
	442,005		H.J. Heinz Co		31,944
	5,759	*,e	Hain Celestial Group, Inc		352
	65,855		Hillshire Brands Co		2,315
	2,074		Hormel Foods Corp		86
	39,791		J.M. Smucker Co		3,946
	501,093		Kellogg Co		32,285
	28,997		Kerry Group plc (Class A)		1,728
	31,000	e	Kikkoman Corp		542
	458		Lindt & Spruengli AG.		1,764
	21		Lindt & Spruengli AG. (Reg)		948
	1,520		McCormick & Co, Inc		112
	74,148		Mead Johnson Nutrition Co		5,743
	1,188,820		Mondelez International, Inc		36,390
	13,000	e	Nippon Meat Packers, Inc		210
	39,000	e	Nisshin Seifun Group, Inc		515
	14,500	e	Nissin Food Products Co Ltd		666
	152,793		Orkla ASA		1,228
	857,662		PepsiCo, Inc		67,850
	29,100		Saputo, Inc		1,477
	13,800		Suedzucker AG.		583
	12,546		Tate & Lyle plc		162
	11,770	e	Tootsie Roll Industries, Inc		352
	405,114		Unilever NV		16,599
	481,826		Unilever plc		20,380
	42,800	e	Yakult Honsha Co Ltd		1,728
	6,000		Yamazaki Baking Co Ltd		79
			TOTAL FOOD, BEVERAGE & TOBACCO		314,383
HEALTH CARE EQUIPMENT & SERVICES - 2.0%
	888,663		Abbott Laboratories		31,388
	450,512		Aetna, Inc		23,030
	8,037	*	Align Technology, Inc		269
	10,800	*	Amsurg Corp		363
	546,940		Baxter International, Inc		39,729

365

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	322,043		Becton Dickinson & Co	$	30,791
	54,777	*	Centene Corp		2,412
	4,495		Chemed Corp		360
	186,841		Cigna Corp		11,653
	9,815	*	Conceptus, Inc		237
	700	*	Cyberonics, Inc		33
	5,764		Dentsply International, Inc		245
	15,359	*	Edwards Lifesciences Corp		1,262
	8,354	*	Gentiva Health Services, Inc		90
	12,050	*	Greatbatch, Inc		360
	4,374	*	Haemonetics Corp		182
	18,890	*	Henry Schein, Inc		1,748
	72,540		Hill-Rom Holdings, Inc		2,555
	10,561	*	HMS Holdings Corp		287
	119,951		Humana, Inc		8,290
	1,185	*	ICU Medical, Inc		70
	45,302	*	Idexx Laboratories, Inc		4,185
	2,446		Invacare Corp		32
	61,900	*	Inverness Medical Innovations, Inc		1,580
	6,078	*	LHC Group, Inc		131
	58,522	*	LifePoint Hospitals, Inc		2,836
	10,330	*,e	MAKO Surgical Corp		115
	1,730	*	MedAssets, Inc		33
	903,388		Medtronic, Inc		42,423
	55,639	*,e	Molina Healthcare, Inc		1,718
	8,672	*	MWI Veterinary Supply, Inc		1,147
	14,388	*	Natus Medical, Inc		193
	1,976	*	NuVasive, Inc		42
	2,364	*	NxStage Medical, Inc		27
	3,000	*	Omnicell, Inc		57
	7,475	*	OraSure Technologies, Inc		40
	2,718	e	Owens & Minor, Inc		88
	5,380	*	Palomar Medical Technologies, Inc		73
	86,208		Patterson Cos, Inc		3,279
	4,910		Quality Systems, Inc		90
	39,293	e	Resmed, Inc		1,822
	3,688	*	Sirona Dental Systems, Inc		272
	56,474		Sonic Healthcare Ltd		822
	36,974		STERIS Corp		1,538
	4,400		Suzuken Co Ltd		160
	7,700		Sysmex Corp		469
	438,368		WellPoint, Inc		29,033
	2,100	*	Wright Medical Group, Inc		50
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		247,609
HOUSEHOLD & PERSONAL PRODUCTS - 1.9%
	4		Avon Products, Inc		0	^
	9,680		Beiersdorf AG.		895
	353,890		Colgate-Palmolive Co		41,770
	281,616		Estee Lauder Cos (Class A)		18,032
	210		Henkel KGaA		17
	150,770		Henkel KGaA (Preference)		14,525

366

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	23,052	e	Herbalife Ltd	$	863
	41,500		Kao Corp		1,342
	322,166		Kimberly-Clark Corp		31,566
	63,795		L’Oreal S.A.		10,121
	44,575	*	Medifast, Inc		1,022
	16,029	e	Nu Skin Enterprises, Inc (Class A)		709
	1,232,772		Procter & Gamble Co		94,997
	152,666		Reckitt Benckiser Group plc		10,961
	43,160		Svenska Cellulosa AB (B Shares)		1,114
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		227,934
INSURANCE - 3.7%
	404,508		ACE Ltd		35,989
	592,920		Aflac, Inc		30,844
	1,543,100		AMP Ltd		8,407
	1,200	e	Amtrust Financial Services, Inc		42
	61,969	*	Arch Capital Group Ltd		3,258
	13,380		Arthur J. Gallagher & Co		553
	131,054		Aspen Insurance Holdings Ltd		5,056
	421,903		Assicurazioni Generali S.p.A.		6,606
	94,531		Assurant, Inc		4,255
	30,787		Axis Capital Holdings Ltd		1,281
	862,610	*	Berkshire Hathaway, Inc (Class B)		89,884
	389,450		Chubb Corp		34,089
	427,236		Cincinnati Financial Corp		20,161
	280,593		CNP Assurances		3,856
	102,203		Delta Lloyd NV		1,760
	1,400		Donegal Group, Inc (Class A)		21
	4,146	*	eHealth, Inc		74
	2,400		Employers Holdings, Inc		56
	10,644		Endurance Specialty Holdings Ltd		509
	11,630		First American Financial Corp		297
	608,847	*	Genworth Financial, Inc (Class A)		6,088
	3,500	*	Hilltop Holdings, Inc		47
	588,027		Insurance Australia Group Ltd		3,508
	1,916		Kemper Corp		62
	4,990	*,e	Markel Corp		2,512
	36,551		Marsh & McLennan Cos, Inc		1,388
	4,850		Meadowbrook Insurance Group, Inc		34
	123,177		Montpelier Re Holdings Ltd		3,209
	75,286		Muenchener Rueckver AG.		14,111
	59,105	*	National Financial Partners Corp		1,326
	700	*	Navigators Group, Inc		41
	2,849,807		Old Mutual plc		8,805
	13,746		PartnerRe Ltd		1,280
	21,807	*	Phoenix Cos, Inc		671
	56,579		Platinum Underwriters Holdings Ltd		3,158
	2,297		Primerica, Inc		75
	357,357		Principal Financial Group		12,161
	929,925		Progressive Corp		23,499
	42,513		Protective Life Corp		1,522
	523,933		Prudential Financial, Inc		30,907

367

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	912,978		Prudential plc	$	14,828
	5,153		RenaissanceRe Holdings Ltd		474
	1,421		RLI Corp		102
	2,022,246		Royal & Sun Alliance Insurance Group plc		3,586
	900		Safety Insurance Group, Inc		44
	2,400		Selective Insurance Group, Inc		58
	2,490		Stancorp Financial Group, Inc		106
	1,244,153		Standard Life plc		6,937
	13,455		Stewart Information Services Corp		343
	169,853		Swiss Re Ltd		13,833
	177,900	e	T&D Holdings, Inc		2,131
	446,182		Travelers Cos, Inc		37,564
	800		TrygVesta AS		65
			TOTAL INSURANCE		441,473
MATERIALS - 3.7%
	52,958		Agnico-Eagle Mines Ltd		2,172
	23,600	e	Agrium, Inc (Toronto)		2,301
	96,390		Air Liquide		11,724
	308,797		Air Products & Chemicals, Inc		26,902
	23,600		Akzo Nobel NV		1,499
	744,736		Alcoa, Inc		6,345
	63,652		Allegheny Technologies, Inc		2,018
	148,535	*	Allied Nevada Gold Corp		2,445
	1,698,817		Alumina Ltd		1,972
	128,690		AMCOL International Corp		3,885
	92,400		Amcor Ltd		895
	335,241		Antofagasta plc		5,032
	26,351		Aptargroup, Inc		1,511
	232,000	e	Asahi Kasei Corp		1,568
	63,073		Ball Corp		3,001
	132,610		BASF AG.		11,644
	48,884		Bemis Co, Inc		1,973
	4,600		Boise, Inc		40
	244,955		Boliden AB		3,957
	19,621		Boral Ltd		101
	56,508		Buckeye Technologies, Inc		1,692
	8,161		Carpenter Technology Corp		402
	44,916		Celanese Corp (Series A)		1,979
	2,372	*	Clearwater Paper Corp		125
	211,732	e	Cleveland-Cliffs, Inc		4,025
	131,361		Commercial Metals Co		2,082
	14,183		Compass Minerals International, Inc		1,119
	295,427		CRH plc		6,523
	17,000	e	Daido Steel Co Ltd		91
	5,617		Domtar Corp		436
	9,400		DSM NV		548
	36,695		Eastman Chemical Co		2,564
	415,647		Ecolab, Inc		33,327
	5,690	*	Ferro Corp		38
	646,464		Fletcher Building Ltd		4,647
	33,738	*	Flotek Industries, Inc		552

368

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	847,086	e	Fortescue Metals Group Ltd	$	3,507
	10,900	*	Franco-Nevada Corp		498
	72,620		Fresnillo plc		1,502
	74,210	*,e	General Moly, Inc		164
	2,179		Givaudan S.A.		2,679
	2,623		Globe Specialty Metals, Inc		37
	94,290		H.B. Fuller Co		3,685
	48,214		HeidelbergCement AG.		3,477
	50,000	e	Hitachi Metals Ltd		479
	900		Imerys S.A.		59
	23,190		Innophos Holdings, Inc		1,265
	9,797		International Flavors & Fragrances, Inc		751
	238,995		International Paper Co		11,132
	10,464		Johnson Matthey plc		367
	48,900		JSR Corp		1,002
	77,699		K&S AG.		3,622
	18,000		Kaneka Corp		104
	333,300		Kinross Gold Corp		2,638
	643,000	*,e	Kobe Steel Ltd		757
	7,764	*	Kraton Polymers LLC		182
	10,783	e	Kronos Worldwide, Inc		169
	58,000		Kuraray Co Ltd		818
	46,374		Linde AG.		8,638
	173,029	*	Louisiana-Pacific Corp		3,737
	388,286		LyondellBasell Industries AF S.C.A		24,575
	71,436	*,e	McEwen Mining, Inc		204
	212,757		MeadWestvaco Corp		7,723
	53,088		Minerals Technologies, Inc		2,204
	330,500	e	Mitsubishi Chemical Holdings Corp		1,575
	48,000		Mitsubishi Gas Chemical Co, Inc		318
	120,960	e	Mitsui Chemicals, Inc		264
	36,615	*,e	Molycorp, Inc		190
	2,100		Myers Industries, Inc		29
	2,220		Neenah Paper, Inc		68
	247,313	e	Newcrest Mining Ltd		5,177
	3,308,000		Nippon Steel Corp		8,426
	31,500		Nitto Denko Corp		1,897
	996,190		Norsk Hydro ASA		4,337
	532,256		Nucor Corp		24,564
	6,000	*	Omnova Solutions, Inc		46
	53,242		Orica Ltd		1,361
	102,000	*	Osisko Mining Corp		605
	64,561	*	Owens-Illinois, Inc		1,721
	244,656		Oxiana Ltd		1,366
	11,843		PolyOne Corp		289
	123,900		Potash Corp of Saskatchewan Toronto		4,866
	316,008		Praxair, Inc		35,248
	1,380		Quaker Chemical Corp		81
	38,970		Rexam plc		313
	6,623		Rock-Tenn Co (Class A)		615
	15,925		Rockwood Holdings, Inc		1,042
	144,474		Royal Gold, Inc		10,262

369

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	6,424	*	RTI International Metals, Inc	$	204
	34,094		Salzgitter AG.		1,370
	850		Schnitzer Steel Industries, Inc (Class A)		23
	18,931		Sealed Air Corp		456
	17,916		Sherwin-Williams Co		3,026
	92,200		Shin-Etsu Chemical Co Ltd		6,115
	215,146		Sigma-Aldrich Corp		16,713
	802		Sika AG.		1,951
	90,000		Silver Wheaton Corp		2,817
	76,875		Sims Group Ltd		808
	10,200		Solvay S.A.		1,384
	1,200		Stepan Co		76
	74,982	*,e	Stillwater Mining Co		970
	334,517		Stora Enso Oyj (R Shares)		2,166
	360,000		Sumitomo Chemical Co Ltd		1,133
	374,000		Sumitomo Metal Mining Co Ltd		5,317
	29,857	*	SunCoke Energy, Inc		488
	18,285		Syngenta AG.		7,652
	42,000	e	Taiyo Nippon Sanso Corp		292
	248,600		Teck Cominco Ltd		6,999
	74,000	e	Teijin Ltd		172
	305,000	e	Toray Industries, Inc		2,072
	117,300		Toyo Seikan Kaisha Ltd		1,622
	69,914		Tredegar Corp		2,058
	268,000		UBE Industries Ltd		529
	15,649		Umicore		736
	198,855		UPM-Kymmene Oyj		2,224
	60,125		Valspar Corp		3,743
	10,800		Wausau Paper Corp		116
	14,852	e	Westlake Chemical Corp		1,389
	300,696		Worthington Industries, Inc		9,316
	749,523		Xstrata plc		12,202
	320,500	e	Yamana Gold, Inc		4,938
			TOTAL MATERIALS		442,847
MEDIA - 1.9%
	5,927		Arbitron, Inc		278
	217,810		British Sky Broadcasting plc		2,928
	185,416		Cablevision Systems Corp (Class A)		2,774
	19,805		Cinemark Holdings, Inc		583
	10,955		Clear Channel Outdoor Holdings, Inc (Class A)		82
	2,120	*,e	Digital Generation, Inc		14
	430,668	*	Discovery Communications, Inc (Class A)		33,911
	57,029	*	Discovery Communications, Inc (Class C)		3,966
	52,293	*,e	DreamWorks Animation SKG, Inc (Class A)		991
	22,935		Fisher Communications, Inc		900
	1,900		JC Decaux S.A.		52
	10,069		John Wiley & Sons, Inc (Class A)		392
	235,872	*	Journal Communications, Inc (Class A)		1,585
	15,813		Lagardere S.C.A.		583
	296,476	*,e	Liberty Global, Inc (Class A)		21,761
	2,327	*,e	Liberty Global, Inc (Series C)		160

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	68,352	*	Liberty Media Corp	$	7,630
	18,676	e	Martha Stewart Living Omnimedia, Inc (Class A)		49
	215,655	*,e	McClatchy Co (Class A)		625
	228,929	*	New York Times Co (Class A)		2,243
	551,411		Pearson plc		9,922
	18,429		ProSiebenSat.1 Media AG.		660
	1,550		Scholastic Corp		41
	15,051		Scripps Networks Interactive (Class A)		968
	1,067,000	e	Singapore Press Holdings Ltd		3,860
	179,661	e	Thomson Corp (Toronto)		5,829
	352,147		Time Warner Cable, Inc		33,827
	828,962		Time Warner, Inc		47,765
	52,156	e	Valassis Communications, Inc		1,558
	358,951	e	Virgin Media, Inc		17,578
	20,310	e	Washington Post Co (Class B)		9,079
	46,200		Wolters Kluwer NV		1,010
	683,960		WPP plc		10,930
			TOTAL MEDIA		224,534
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 4.5%
	1,969	*	Acorda Therapeutics, Inc		63
	17,804	*,e	Affymetrix, Inc		84
	375,014		Agilent Technologies, Inc		15,739
	107,729	*,e	Akorn, Inc		1,490
	634,293	*	Ariad Pharmaceuticals, Inc		11,474
	174,280		Astellas Pharma, Inc		9,405
	13,554	*	Auxilium Pharmaceuticals, Inc		234
	14,449	*,e	BioCryst Pharmaceuticals, Inc		17
	235,481	*	Biogen Idec, Inc		45,427
	57,262	*	Biovail Corp (Toronto)		4,299
	1,278,244		Bristol-Myers Squibb Co		52,651
	8,887	*,e	Cadence Pharmaceuticals, Inc		59
	9,467	*	Cambrex Corp		121
	57,720	*	Cepheid, Inc		2,215
	180,400		Chugai Pharmaceutical Co Ltd		4,020
	19,300	e	Dainippon Sumitomo Pharma Co Ltd		342
	49,400	e	Eisai Co Ltd		2,213
	130,212	*	Endo Pharmaceuticals Holdings, Inc		4,005
	4,664	*	Genomic Health, Inc		132
	29,826	*,e	Geron Corp		32
	1,134,156	*	Gilead Sciences, Inc		55,494
	963,615		GlaxoSmithKline plc		22,565
	4,270	*,e	Immunogen, Inc		69
	15,329	*,e	Immunomedics, Inc		37
	117,675	*,e	Incyte Corp		2,755
	1,252,894		Johnson & Johnson		102,148
	145,415	*	Life Technologies Corp		9,398
	1,544,250		Merck & Co, Inc		68,302
	22,815		Merck KGaA		3,446
	2,769	*	Momenta Pharmaceuticals, Inc		37
	243,310	*,e	Nektar Therapeutics		2,676
	83,237	*	Neurocrine Biosciences, Inc		1,011

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	429,250		Novartis AG.	$	30,594
	91,145		Novo Nordisk AS (Class B)		14,691
	13,693	*	Onyx Pharmaceuticals, Inc		1,217
	170,097	e	PDL BioPharma, Inc		1,243
	12,565		PerkinElmer, Inc		423
	134,425		Roche Holding AG.		31,338
	83,791	*	Salix Pharmaceuticals Ltd		4,288
	85,573	*,e	Sangamo Biosciences, Inc		818
	96,622	*,e	Synta Pharmaceuticals Corp		831
	232,800	e	Takeda Pharmaceutical Co Ltd		12,753
	6,504		Techne Corp		441
	3,140	*,e	Theravance, Inc		74
	1,800		Tsumura & Co		66
	16,960	*	United Therapeutics Corp		1,032
	103,739	*	Vertex Pharmaceuticals, Inc		5,704
	10,081	*	Viropharma, Inc		254
	251,453	*,e	Vivus, Inc		2,766
	61,330	*	Waters Corp		5,760
	10,632	*	Xenoport, Inc		76
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		536,329
REAL ESTATE - 2.2%
	58,900		Aeon Mall Co Ltd		1,799
	10,892		American Campus Communities, Inc		494
	445,452		American Tower Corp		34,264
	890,368		Annaly Capital Management, Inc		14,148
	120,047		Boston Properties, Inc		12,132
	248,240		British Land Co plc		2,055
	3,498,000		CapitaMall Trust		5,904
	195,955	*	CBRE Group, Inc		4,948
	192,000		CFS Gandel Retail Trust		403
	12,843		Colonial Properties Trust		290
	207,000		Daiwa House Industry Co Ltd		4,049
	2,200,199		DB RREEF Trust		2,391
	22,121		Douglas Emmett, Inc		551
	165,551		Duke Realty Corp		2,811
	17,634		Federal Realty Investment Trust		1,905
	300,754		First Industrial Realty Trust, Inc		5,152
	2,732	*	Forest City Enterprises, Inc (Class A)		49
	15,042		Gecina S.A.		1,748
	435,396		GPT Group (ASE)		1,685
	533,654		HCP, Inc		26,608
	99,007		Health Care REIT, Inc		6,724
	12,227		Healthcare Realty Trust, Inc		347
	736,502		Host Marriott Corp		12,881
	291,636		Land Securities Group plc		3,681
	16,682		LaSalle Hotel Properties		423
	59,200		Lend Lease Corp Ltd		632
	381,212		Liberty International plc		1,942
	37,196		Liberty Property Trust		1,479
	54,403		Macerich Co		3,502
	160,440		Macquarie Goodman Group		802

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	12,227		Mid-America Apartment Communities, Inc	$	844
	726,832		Mirvac Group		1,230
	305,810		Mitsui Fudosan Co Ltd		8,733
	13,546		Post Properties, Inc		638
	338,303		Prologis, Inc		13,525
	700		PS Business Parks, Inc		55
	269,490		RAIT Investment Trust		2,148
	5,196		Regency Centers Corp		275
	92,736		Ryman Hospitality Properties		4,243
	623,984		Segro plc		2,417
	255,010		Simon Property Group, Inc		40,434
	1,155,410		Stockland Trust Group		4,409
	35,276	*	Unibail-Rodamco		8,216
	92,125		Ventas, Inc		6,744
	146,822		Vornado Realty Trust		12,280
			TOTAL REAL ESTATE		261,990
RETAILING - 2.4%
	8,224		Aaron’s, Inc		236
	16,615		Advance Auto Parts, Inc		1,373
	127,624		American Eagle Outfitters, Inc		2,387
	32,439	*	Ann Taylor Stores Corp		941
	48,977	*	Autozone, Inc		19,433
	19,109	*,e	Barnes & Noble, Inc		314
	214,041	*	Bed Bath & Beyond, Inc		13,789
	132,772		Best Buy Co, Inc		2,941
	810	*,e	Blue Nile, Inc		28
	7,961	*	Cabela’s, Inc		484
	7,000		Canadian Tire Corp Ltd		505
	81,708	*	Carmax, Inc		3,407
	12,500	e	Fast Retailing Co Ltd		3,997
	7,165		Finish Line, Inc (Class A)		140
	67,898		Foot Locker, Inc		2,325
	511,369		Gap, Inc		18,102
	262,371		Genuine Parts Co		20,465
	23,293		GNC Holdings, Inc		915
	2,200		Haverty Furniture Cos, Inc		45
	197,899		Hennes & Mauritz AB (B Shares)		7,088
	39,551		HSN, Inc		2,170
	48,910		Inditex S.A.		6,518
	51,825	e	JC Penney Co, Inc		783
	417,700		Kingfisher plc		1,831
	235,947		Kohl’s Corp		10,884
	2,891,620	e	Li & Fung Ltd		3,997
	762,145	*	Liberty Media Holding Corp (Interactive A)		16,295
	4,757		Lithia Motors, Inc (Class A)		226
	19,712	*	LKQ Corp		429
	1,065,451		Lowe’s Companies, Inc		40,402
	203,285		Macy’s, Inc		8,505
	210,991		Marks & Spencer Group plc		1,251
	6,288	*	New York & Co, Inc		26
	6,625		Next plc		440

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	66,728		Nordstrom, Inc	$	3,685
	150,056	*,e	Office Depot, Inc		590
	25,011	e	OfficeMax, Inc		290
	9,311	*	O’Reilly Automotive, Inc		955
	39,348		Petsmart, Inc		2,444
	35,119		Pier 1 Imports, Inc		808
	16,391		Ross Stores, Inc		994
	23,447	*	Sally Beauty Holdings, Inc		689
	2,700		Shoe Carnival, Inc		55
	9,136	*	Shutterfly, Inc		404
	14,679		Signet Jewelers Ltd		983
	594,896	e	Staples, Inc		7,989
	3,300		Stein Mart, Inc		28
	598,147		Target Corp		40,943
	16,714		Tiffany & Co		1,162
	785,372		TJX Companies, Inc		36,716
	10,000	*	Tuesday Morning Corp		78
	11,100	e	Yamada Denki Co Ltd		509
			TOTAL RETAILING		291,994
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.3%
	80,003	*	Advanced Energy Industries, Inc		1,464
	1,971,232		Applied Materials, Inc		26,572
	82,331		ASML Holding NV		5,545
	15,582	*	Cirrus Logic, Inc		354
	22,358	e	Cypress Semiconductor Corp		247
	2,380	*	Diodes, Inc		50
	114,773	*	Entegris, Inc		1,132
	7,010	*,e	GT Solar International, Inc		23
	7,300	*	Integrated Device Technology, Inc		55
	2,744,915		Intel Corp		59,976
	6,138	*	International Rectifier Corp		130
	11,438		Intersil Corp (Class A)		100
	4,049		IXYS Corp		39
	21,682	*	Lam Research Corp		899
	60,054	*	Lattice Semiconductor Corp		327
	27,338	*	LTX-Credence Corp		165
	3,840		Micrel, Inc		40
	605,663		Nvidia Corp		7,765
	18,941	*	Omnivision Technologies, Inc		261
	541,931	*	ON Semiconductor Corp		4,487
	1,300		Power Integrations, Inc		56
	4,329	*	Rambus, Inc		24
	21,400		Rohm Co Ltd		742
	9,021	*	Rudolph Technologies, Inc		106
	23,614	*	Sigma Designs, Inc		115
	97,903	*	Skyworks Solutions, Inc		2,157
	266,513		STMicroelectronics NV		2,059
	40,230	*,e	Teradyne, Inc		652
	1,006,837		Texas Instruments, Inc		35,723
	41,101	*	Triquint Semiconductor, Inc		208
	2,982	*	Ultratech, Inc		118
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		151,591

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
SOFTWARE & SERVICES - 4.6%
	551,399		Accenture plc	$	41,890
	528,194	*	Adobe Systems, Inc		22,982
	1,660	*	Advent Software, Inc		46
	154,046		AOL, Inc		5,929
	201,046	*	Autodesk, Inc		8,291
	7,303	*	Blucora, Inc		113
	128,405		Broadridge Financial Solutions, Inc		3,190
	485,524		CA, Inc		12,221
	24,502	*	Cadence Design Systems, Inc		341
	24,400	*	CGI Group, Inc		663
	103,104	*	Citrix Systems, Inc		7,440
	421,935	*	Cognizant Technology Solutions Corp (Class A)		32,324
	47,900		Computershare Ltd		511
	124,867	*	Compuware Corp		1,561
	20,058		Convergys Corp		342
	94,949		Earthlink, Inc		515
	2,100		EPIQ Systems, Inc		29
	6,214	e	Factset Research Systems, Inc		575
	5,718		Fair Isaac Corp		261
	30,365	*	Fortinet, Inc		719
	13,395		Global Payments, Inc		665
	120,590	*	Google, Inc (Class A)		95,752
	2,815	*,e	Higher One Holdings, Inc		25
	91,530	*	Informatica Corp		3,155
	488,585		International Business Machines Corp		104,215
	402,600		Intuit, Inc		26,431
	1,740	e	j2 Global, Inc		68
	24,152	*	Knot, Inc		242
	28,341	*,e	Liquidity Services, Inc		845
	19,743	*	NeuStar, Inc (Class A)		919
	165,999		NIC, Inc		3,181
	10,700		Nomura Research Institute Ltd		276
	204	e	NTT Data Corp		674
	28,887	*,e	Nuance Communications, Inc		583
	3,900	*	Open Text Corp		230
	6,221	*,e	OpenTable, Inc		392
	2,008,922		Oracle Corp		64,969
	7,887	*	Rovi Corp		169
	140,966	*	Salesforce.com, Inc		25,209
	228,532		SAP AG.		18,380
	10,057	*	Seachange International, Inc		120
	2,000	*	SPS Commerce, Inc		85
	948,597	*	Symantec Corp		23,411
	20,999	*	Teradata Corp		1,229
	507	*	Ultimate Software Group, Inc		53
	16,010	*	Unisys Corp		364
	14,487	*	Valueclick, Inc		428
	1,645,747	*	Yahoo!, Inc		38,724
			TOTAL SOFTWARE & SERVICES		550,737

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
TECHNOLOGY HARDWARE & EQUIPMENT - 2.6%
	8,103	e	Adtran, Inc	$	159
	116,347	*,e	Aruba Networks, Inc		2,878
	11,531	*	Avid Technology, Inc		72
	900		Black Box Corp		20
	36,913	*,e	Bookham, Inc		47
	25,500		Brother Industries Ltd		264
	3,303	*	Calix Networks, Inc		27
	227,500		Canon, Inc		8,361
	3,008,313		Cisco Systems, Inc		62,904
	4,800		Cognex Corp		202
	909		Coherent, Inc		52
	208,957		Corning, Inc		2,785
	203,162	*	Cray, Inc		4,715
	2,036,538		Dell, Inc		29,184
	4,840	*	Digi International, Inc		43
	3,605	*	DTS, Inc		60
	1,630,608	*	EMC Corp		38,955
	103,068	*,e	Finisar Corp		1,359
	90,753	*	Flextronics International Ltd		613
	186,200		Fuji Folms Holdings Corp		3,693
	592,000		Fujitsu Ltd		2,473
	37,319	*,e	Fusion-io, Inc		611
	1,416,704		Hewlett-Packard Co		33,774
	5,600		Hitachi High-Technologies Corp		117
	28,700	*,e	Ibiden Co Ltd		450
	10,802	*	Imation Corp		41
	11,854	*,e	Infinera Corp		83
	43,639	*	Ingram Micro, Inc (Class A)		859
	30,066	e	IPG Photonics Corp		1,997
	1,920	*	Itron, Inc		89
	24,389		Jabil Circuit, Inc		451
	118,500		Konica Minolta Holdings, Inc		869
	34,600	*	Kyocera Corp		3,175
	54,381	e	Lexmark International, Inc (Class A)		1,436
	1,068		Littelfuse, Inc		72
	900	e	Molex, Inc		26
	162,704		Motorola, Inc		10,418
	32,300		Murata Manufacturing Co Ltd		2,442
	2,100		National Instruments Corp		69
	7,919	*	Netgear, Inc		265
	1,185,120	e	Nokia Oyj		3,855
	45,500		Omron Corp		1,151
	69,596	*	Oplink Communications, Inc		1,141
	500	*	OSI Systems, Inc		31
	1,420	*	Plexus Corp		35
	231,781	*,e	Power-One, Inc		962
	847,188		Qualcomm, Inc		56,719
	903,685	*	Quantum Corp		1,157
	163,000	e	Ricoh Co Ltd		1,780
	2,500	*	Rofin-Sinar Technologies, Inc		68

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,300	*	Scansource, Inc	$	37
	15,000	*	ShoreTel, Inc		54
	53,527	*,e	STEC, Inc		237
	6,268	*	Super Micro Computer, Inc		71
	20,433	*	Synaptics, Inc		831
	20,700	e	TDK Corp		728
	4,637	*	Tech Data Corp		211
	13,773	*	TTM Technologies, Inc		105
	10,708	*,e	Universal Display Corp		315
	2,708	*	Vishay Precision Group, Inc		40
	2,622,193		Xerox Corp		22,551
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		308,189
TELECOMMUNICATION SERVICES - 1.3%
	128,800	e	BCE, Inc		6,018
	637,242		CenturyTel, Inc		22,386
	161,417	*	Cincinnati Bell, Inc		526
	320,847	*	Crown Castle International Corp		22,344
	594,730		France Telecom S.A.		6,026
	1,648,150	e	Frontier Communications Corp		6,560
	5,000	*,e	Iridium Communications, Inc		30
	178,800	e	KDDI Corp		7,476
	29,997	*	Level 3 Communications, Inc		609
	5,326	e	NTT DoCoMo, Inc		7,917
	219,990	e	Portugal Telecom SGPS S.A.		1,091
	86,400	e	Rogers Communications, Inc (Class B)		4,413
	23,411	*	SBA Communications Corp (Class A)		1,686
	166,700		Softbank Corp		7,680
	3,662,020	*	Sprint Nextel Corp		22,741
	2,598,797		Telecom Italia S.p.A.		1,833
	42,900		Telekom Austria AG.		282
	699,891		TeliaSonera AB		4,999
	68,610	*	tw telecom inc (Class A)		1,728
	2,448	*	US Cellular Corp		88
	1,580		USA Mobility, Inc		21
	8,830,263		Vodafone Group plc		25,057
	728,258	e	Windstream Corp		5,790
			TOTAL TELECOMMUNICATION SERVICES		157,301
TRANSPORTATION - 1.5%
	42,365		Abertis Infraestructuras S.A. (Continuous)		714
	11,311	*	Alaska Air Group, Inc		723
	800		Allegiant Travel Co		71
	639,647		Auckland International Airport Ltd		1,579
	104,766		Autostrade S.p.A.		1,659
	24,956	*	Avis Budget Group, Inc		695
	101,600	e	Canadian National Railway Co		10,211
	1,437,000		Cathay Pacific Airways Ltd		2,464
	30,500		Central Japan Railway Co		3,223
	3		CH Robinson Worldwide, Inc		0	^
	1,070,310		CSX Corp		26,362
	134,669		Deutsche Lufthansa AG.		2,634

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	534,498		Deutsche Post AG.	$	12,335
	71,700		East Japan Railway Co		5,902
	5		Expeditors International of Washington, Inc		0	^
	5,413		Fraport AG. Frankfurt Airport Services Worldwide		304
	231	*	Genesee & Wyoming, Inc (Class A)		22
	5,000	*	Hawaiian Holdings, Inc		29
	5,334		Heartland Express, Inc		71
	7	*	International Consolidated Airlines		0	^
	103,000	*	Mitsui OSK Lines Ltd		341
	2,037,197		MTR Corp		8,107
	265,109		Norfolk Southern Corp		20,435
	19,900		Odakyu Electric Railway Co Ltd		248
	413,000		Singapore Airlines Ltd		3,628
	669,724		Southwest Airlines Co		9,028
	14,000	e	Tobu Railway Co Ltd		80
	228,000	e	Tokyu Corp		1,687
	104,281		Transurban Group		693
	160,145		Union Pacific Corp		22,806
	554,151		United Parcel Service, Inc (Class B)		47,602
			TOTAL TRANSPORTATION		183,653
UTILITIES - 2.6%
	2,050		Acciona S.A.		112
	29,868		AGL Energy Ltd		494
	4,000		American States Water Co		230
	13,544		American Water Works Co, Inc		561
	161,218		Atmos Energy Corp		6,882
	257,758	*	Calpine Corp		5,310
	255,104		Centerpoint Energy, Inc		6,112
	837,282		Centrica plc		4,687
	18,394		CH Energy Group, Inc		1,203
	3,130		Chesapeake Utilities Corp		154
	42,300	e	Chugoku Electric Power Co, Inc		553
	380,249		Cleco Corp		17,883
	881,500		CLP Holdings Ltd		7,728
	431,193		Consolidated Edison, Inc		26,316
	211,007		Contact Energy Ltd		1,007
	2,474		Empire District Electric Co		55
	28,688		Enel Green Power S.p.A		54
	714,259		Energias de Portugal S.A.		2,201
	90,334		Gas Natural SDG S.A.		1,603
	2,517,942		Hong Kong & China Gas Ltd		7,356
	1,008,216		Iberdrola S.A.		4,713
	328,062		Idacorp, Inc		15,836
	7,771		Integrys Energy Group, Inc		452
	14,435		MDU Resources Group, Inc		361
	67,199		MGE Energy, Inc		3,725
	1,088,320		National Grid plc		12,646
	29,147		New Jersey Resources Corp		1,307
	477,580		NextEra Energy, Inc		37,098
	620,350		NiSource, Inc		18,201
	334,247		Northeast Utilities		14,526

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	RATE	MATURITY DATE	VALUE (000)
	455,474		NV Energy, Inc			$	9,123
	68,613	e	Oest Elektrizitatswirts AG. (Class A)				1,491
	153,232		Oneok, Inc				7,305
	1,420	e	Ormat Technologies, Inc				29
	51,000	e	Osaka Gas Co Ltd				223
	814,693	e	Pepco Holdings, Inc				17,434
	486,755		PG&E Corp				21,675
	212,709		Piedmont Natural Gas Co, Inc				6,994
	11,683		Pinnacle West Capital Corp				676
	9,375		PNM Resources, Inc				218
	8,428		Portland General Electric Co				256
	455,571		Scottish & Southern Energy plc				10,299
	254,919		Sempra Energy				20,378
	23,900	*,e	Shikoku Electric Power Co, Inc				341
	30,331		SJW Corp				804
	69,460		South Jersey Industries, Inc				3,861
	54,917		SP AusNet				69
	50,626		Suez Environnement S.A.				646
	27,532		TECO Energy, Inc				491
	658,790	e	Tokyo Gas Co Ltd				3,561
	11,190		UGI Corp				430
	27,300		United Utilities Group plc				294
	5,427		UNS Energy Corp				266
	6,615		Vectren Corp				234
	99,135		Veolia Environnement				1,256
	14,905		Westar Energy, Inc				495
	27,296		WGL Holdings, Inc				1,204
	42,159		Wisconsin Energy Corp				1,808
	98,438		Xcel Energy, Inc				2,924
			TOTAL UTILITIES				314,151
			TOTAL COMMON STOCKS				7,286,407
			(Cost $5,402,839)
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	233,115		Federal Home Loan Mortgage Corp (FHLMC)				774
	740,991		Federal National Mortgage Association (FNMA)				2,408
	14,500	e	M&T Bank Corp				15,145
			TOTAL BANKS				18,327
			TOTAL PREFERRED STOCKS				18,327
			(Cost $38,865)

PRINCIPAL		ISSUER
SHORT-TERM INVESTMENTS - 10.9%
GOVERNMENT AGENCY DEBT - 0.1%
$	10,000,000	Federal Home Loan Bank (FHLB)	0.085	%	04/17/13	10,000
		TOTAL GOVERNMENT AGENCY DEBT				10,000

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER		RATES		MATURITY DATE	VALUE (000)
TREASURY DEBT - 7.7%
$	10,000,000	w	United States Treasury Bill		0.100	%	04/04/13	$	10,000
	4,800,000		United States Treasury Bill		0.110		04/18/13		4,800
	50,000,000	w	United States Treasury Bill		0.113		04/25/13		49,996
	11,000,000		United States Treasury Bill		0.090		05/02/13		10,999
	95,000,000	w	United States Treasury Bill		0.075		05/16/13		94,991
	60,100,000	w	United States Treasury Bill		0.121		05/23/13		60,089
	4,200,000		United States Treasury Bill		0.075		05/30/13		4,200
	21,000,000	w	United States Treasury Bill		0.076		06/06/13		20,998
	179,000,000	w	United States Treasury Bill	0.080-0.100			06/13/13		178,979
	2,800,000		United States Treasury Bill		0.090		06/27/13		2,799
	18,000,000		United States Treasury Bill		0.093		07/11/13		17,997
	142,300,000	w	United States Treasury Bill	0.090-0.100			07/18/13		142,268
	73,000,000	w	United States Treasury Bill	0.075-0.100			07/25/13		72,983
	75,000,000	w	United States Treasury Bill		0.100		08/01/13		74,980
	100,000,000	w	United States Treasury Bill		0.090		08/22/13		99,964
	5,000,000		United States Treasury Bill		0.091		09/05/13		4,998
	79,000,000	w	United States Treasury Bill	0.100-0.105			09/19/13		78,962
			TOTAL TREASURY DEBT						930,003
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 3.1%
TREASURY DEBT - 2.7%
	25,000,000		United States Cash Management Bill		0.090		04/15/13		24,999
	10,000,000		United States Treasury Bill		0.090		05/30/13		9,999
	25,000,000		United States Treasury Bill		0.090		06/06/13		24,997
	20,000,000		United States Treasury Bill		0.085		06/13/13		19,998
	47,000,000		United States Treasury Bill	0.080-0.089			06/27/13		46,992
	40,000,000		United States Treasury Bill	0.082-0.095			08/15/13		39,987
	55,000,000		United States Treasury Bill		0.100		09/19/13		54,973
	5,000,000		United States Treasury Bill		0.080		04/04/13		5,000
	55,000,000		United States Treasury Bill	0.080-0.097			07/18/13		54,988
	20,000,000		United States Treasury Bill		0.095		07/25/13		19,995
	20,000,000		United States Treasury Bill		0.100		08/01/13		19,995
			TOTAL TREASURY DEBT						321,923
TREASURY DEBT - 0.4%
	35,000,000		United States Treasury Bill	0.060-0.090			05/02/13		34,998
	10,000,000		United States Treasury Bill		0.100		05/23/13		9,998
			TOTAL TREASURY DEBT						44,996
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						366,919
			TOTAL SHORT-TERM INVESTMENTS						1,306,922
			(Cost $1,306,878)
			TOTAL INVESTMENTS - 109.7%						13,188,703
			(Cost $11,174,825)
			OTHER ASSETS & LIABILITIES, NET - (9.7)%						(1,166,725	)
			NET ASSETS - 100.0%					$	12,021,978

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

	Abbreviation(s):
REIT	Real Estate Investment Trust
*	Non-income producing.
^	Amount represents less than $1,000.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $395,057,000.
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 March 31, 2013 the aggregate value of these securities amounted to $404,459,000 or 3.4% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
w	All or a portion of these securities have been segregated by the custodian to cover collateral requirements on mortgage dollar rolls.
	Cost amounts are in thousands.

381

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND
MONEY MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2013

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 99.5%
CERTIFICATE OF DEPOSIT - 3.6%
$	50,000,000		Bank of Montreal	0.160	%	04/01/13	$	50,000
	30,000,000		Bank of Montreal	0.180		04/16/13		30,000
	50,000,000		Bank of Nova Scotia	0.150		04/01/13		50,000
	50,000,000		Bank of Nova Scotia	0.190		06/19/13		50,000
	15,000,000		Canadian Imperial Bank of Commerce	0.130		06/24/13		15,000
	20,000,000		Toronto-Dominion Bank	0.150		04/09/13		20,000
	35,000,000		Toronto-Dominion Bank	0.195		04/16/13		35,000
	21,170,000		Toronto-Dominion Bank	0.160		04/29/13		21,170
	25,000,000		Toronto-Dominion Bank	0.200		05/07/13		25,000
	21,000,000		Toronto-Dominion Bank	0.180		05/21/13		21,000
	30,000,000		Toronto-Dominion Bank	0.170		06/25/13		30,000
	30,000,000		Wells Fargo Bank NA	0.170		06/07/13		30,000
	50,000,000		Wells Fargo Bank NA	0.150		06/11/13		50,000
			TOTAL CERTIFICATE OF DEPOSIT					427,170
COMMERCIAL PAPER - 34.5%
	16,000,000		Australia & New Zealand Banking Group Ltd	0.215		05/03/13		15,997
	42,455,000		Australia & New Zealand Banking Group Ltd	0.175		05/28/13		42,443
	40,000,000		Australia & New Zealand Banking Group Ltd	0.180		05/29/13		39,988
	10,000,000		Australia & New Zealand Banking Group Ltd	0.175		06/03/13		9,997
	10,000,000		Australia & New Zealand Banking Group Ltd	0.180		06/04/13		9,997
	20,000,000		Australia & New Zealand Banking Group Ltd	0.185		06/12/13		19,993
	20,700,000		Australia & New Zealand Banking Group Ltd	0.210		07/22/13		20,686
	2,900,000		Bank of Nova Scotia	0.180		05/02/13		2,900
	6,200,000		Bank of Nova Scotia	0.190		06/03/13		6,198
	10,000,000		Bank of Nova Scotia	0.200		06/19/13		9,996
	20,000,000		Bank of Nova Scotia	0.230		09/09/13		19,979
	13,813,000		Chariot Funding LLC	0.150		04/11/13		13,812
	20,000,000	y	Coca-Cola Co	0.220		04/05/13		19,999
	38,000,000	y	Coca-Cola Co	0.130		04/17/13		37,997
	2,200,000	y	Coca-Cola Co	0.110		04/18/13		2,200
	19,720,000	y	Coca-Cola Co	0.135		05/03/13		19,718
	21,000,000	y	Coca-Cola Co	0.130		05/09/13		20,997
	19,500,000	y	Coca-Cola Co	0.110		05/10/13		19,498
	26,350,000	y	Coca-Cola Co	0.250		05/13/13		26,342
	5,885,000	y	Coca-Cola Co	0.170		05/16/13		5,884
	45,500,000	y	Coca-Cola Co	0.155		05/22/13		45,490
	2,000,000	y	Coca-Cola Co	0.120		06/03/13		2,000
	5,000,000	y	Coca-Cola Co	0.140		06/04/13		4,999
	32,400,000	y	Coca-Cola Co	0.160		06/17/13		32,389
	27,753,000	y	Coca-Cola Co	0.145		06/18/13		27,744
	14,255,000	y	Coca-Cola Co	0.145		06/21/13		14,250
	7,210,000	y	Coca-Cola Co	0.175		07/11/13		7,206
	16,500,000	y	Coca-Cola Co	0.190		08/01/13		16,489
	15,000,000	y	Coca-Cola Co	0.160		08/05/13		14,992

382

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	45,000,000	y	Commonwealth Bank of Australia	0.200	%	04/04/13	$	44,999
	15,000,000	y	Commonwealth Bank of Australia	0.200		04/08/13		14,999
	10,000,000	y	Commonwealth Bank of Australia	0.200		04/11/13		10,000
	5,000,000	y	Commonwealth Bank of Australia	0.185		04/16/13		5,000
	2,700,000	y	Commonwealth Bank of Australia	0.180		05/08/13		2,700
	1,400,000	y	Commonwealth Bank of Australia	0.270		05/09/13		1,400
	10,750,000	y	Commonwealth Bank of Australia	0.185		05/21/13		10,747
	35,080,000	y	Commonwealth Bank of Australia	0.185		06/05/13		35,068
	21,000,000	y	Commonwealth Bank of Australia	0.240		08/20/13		20,980
	30,016,000	y	Fairway Finance LLC	0.190		04/02/13		30,016
	24,736,000	y	Fairway Finance LLC	0.180		04/03/13		24,736
	6,910,000	y	Fairway Finance LLC	0.170		04/08/13		6,910
	3,000,000	y	Fairway Finance LLC	0.200		04/10/13		3,000
	25,000,000	y	Fairway Finance LLC	0.170		04/12/13		24,999
	8,000,000	y	Fairway Finance LLC	0.180		04/17/13		7,999
	20,000,000	y	Fairway Finance LLC	0.170		05/09/13		19,996
	21,380,000	y	Fairway Finance LLC	0.170		05/17/13		21,375
	2,700,000	y	Fairway Finance LLC	0.170		05/22/13		2,699
	30,000,000	y	Fairway Finance LLC	0.170		05/23/13		29,993
	25,600,000	y	Fairway Finance LLC	0.190		06/24/13		25,589
	2,307,000	y	Fairway Finance LLC	0.230		07/16/13		2,305
	9,450,000		General Electric Capital Corp	0.220		04/12/13		9,449
	6,810,000		General Electric Capital Corp	0.200		04/16/13		6,810
	30,000,000		General Electric Capital Corp	0.200		04/17/13		29,997
	20,000,000		General Electric Capital Corp	0.200		04/18/13		19,998
	10,000,000		General Electric Capital Corp	0.190		05/28/13		9,997
	32,175,000		General Electric Capital Corp	0.160		05/31/13		32,167
	11,970,000		General Electric Capital Corp	0.180		07/10/13		11,964
	30,000,000		General Electric Capital Corp	0.180		07/29/13		29,982
	33,000,000		Hydro-Quebec	0.140		04/08/13		32,999
	2,210,000		JPMorgan Chase Bank NA	0.200		05/06/13		2,210
	17,808,000	y	Jupiter Securitization Co LLC	0.160		04/19/13		17,807
	2,400,000	y	Jupiter Securitization Co LLC	0.200		06/06/13		2,399
	25,000,000	y	Jupiter Securitization Co LLC	0.180		06/24/13		24,989
	20,000,000	y	Liberty Street Funding LLC	0.165		04/05/13		20,000
	40,000,000	y	Liberty Street Funding LLC	0.170		04/11/13		39,998
	20,500,000	y	Liberty Street Funding LLC	0.180		04/16/13		20,498
	20,000,000	y	Liberty Street Funding LLC	0.175		04/18/13		19,998
	20,000,000	y	Liberty Street Funding LLC	0.180		04/22/13		19,998
	30,000,000	y	Liberty Street Funding LLC	0.190		05/02/13		29,995
	20,000,000	y	Liberty Street Funding LLC	0.195		06/06/13		19,993
	35,000,000		Merck & Co, Inc	0.100		04/04/13		35,000
	10,000,000		Merck & Co, Inc	0.100		04/05/13		10,000
	22,900,000		Merck & Co, Inc	0.120		04/09/13		22,899
	78,570,000		Merck & Co, Inc	0.120		05/14/13		78,558
	25,000,000		Merck & Co, Inc	0.130		05/16/13		24,996
	20,000,000	y	National Australia Funding Delaware, Inc	0.195		04/03/13		20,000
	2,500,000	y	National Australia Funding Delaware, Inc	0.200		04/08/13		2,500
	16,000,000	y	National Australia Funding Delaware, Inc	0.200		04/09/13		15,999
	30,000,000	y	National Australia Funding Delaware, Inc	0.180		05/06/13		29,995
	35,000,000	y	National Australia Funding Delaware, Inc	0.180		05/07/13		34,994
	19,000,000	y	National Australia Funding Delaware, Inc	0.180		05/08/13		18,996
	21,500,000	y	National Australia Funding Delaware, Inc	0.240		08/05/13		21,482

383

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	6,950,000	y	National Australia Funding Delaware, Inc	0.270	%	10/21/13	$	6,939
	1,150,000	y	Nestle Capital Corp	0.120		05/13/13		1,150
	2,880,000	y	Nestle Capital Corp	0.220		05/15/13		2,879
	5,000,000	y	Nestle Capital Corp	0.310		05/17/13		4,998
	24,000,000	y	Nestle Capital Corp	0.200		05/21/13		23,993
	98,000,000	y	Nestle Capital Corp	0.140		06/19/13		97,970
	3,500,000	y	Nestle Capital Corp	0.120		06/24/13		3,499
	25,000,000	y	Nestle Capital Corp	0.150		07/23/13		24,988
	19,400,000	y	Nestle Capital Corp	0.150		08/26/13		19,388
	20,000,000	y	Old Line Funding LLC	0.200		04/01/13		20,000
	20,000,000	y	Old Line Funding LLC	0.200		04/08/13		19,999
	4,019,000	y	Old Line Funding LLC	0.200		04/18/13		4,019
	10,600,000	y	Old Line Funding LLC	0.160		04/22/13		10,599
	25,000,000	y	Old Line Funding LLC	0.190		04/24/13		24,997
	20,000,000	y	Old Line Funding LLC	0.175		04/25/13		19,998
	45,000,000	y	Old Line Funding LLC	0.160		05/20/13		44,990
	47,715,000	y	Old Line Funding LLC	0.210		05/21/13		47,701
	30,000,000	y	Old Line Funding LLC	0.190		06/26/13		29,986
	39,000,000		PACCAR Financial Corp	0.120		04/04/13		38,999
	17,900,000		PACCAR Financial Corp	0.120		04/09/13		17,899
	8,000,000		PACCAR Financial Corp	0.120		04/11/13		8,000
	2,580,000		PACCAR Financial Corp	0.125		04/12/13		2,580
	16,100,000		PACCAR Financial Corp	0.150		04/22/13		16,099
	24,960,000		PACCAR Financial Corp	0.140		05/09/13		24,956
	6,200,000		PACCAR Financial Corp	0.150		05/16/13		6,199
	10,000,000		PACCAR Financial Corp	0.150		06/13/13		9,997
	20,000,000	y	Pfizer, Inc	0.100		04/11/13		19,999
	15,000,000	y	Private Export Funding Corp	0.270		04/02/13		15,000
	25,000,000	y	Private Export Funding Corp	0.150		05/01/13		24,997
	25,000,000	y	Procter & Gamble Co	0.100		05/01/13		24,998
	17,050,000	y	Procter & Gamble Co	0.130		05/06/13		17,048
	50,000,000	y	Procter & Gamble Co	0.140		05/21/13		49,990
	6,000,000	y	Procter & Gamble Co	0.150		05/22/13		5,999
	60,000,000	y	Procter & Gamble Co	0.135		05/24/13		59,987
	20,000,000	y	Procter & Gamble Co	0.150		05/28/13		19,995
	37,000,000	y	Procter & Gamble Co	0.150		05/29/13		36,991
	10,635,000	y	Procter & Gamble Co	0.150		05/31/13		10,632
	29,850,000	y	Procter & Gamble Co	0.140		06/03/13		29,842
	40,000,000	y	Procter & Gamble Co	0.125		06/04/13		39,990
	10,000,000	y	Procter & Gamble Co	0.140		06/06/13		9,998
	32,000,000		Province of British Columbia	0.135		07/17/13		31,987
	51,000,000		Province of British Columbia	0.140		07/19/13		50,978
	50,000,000		Province of British Columbia	0.140		07/24/13		49,978
	50,000,000		Province of Ontario Canada	0.130		04/02/13		50,000
	15,600,000		Province of Ontario Canada	0.150		04/08/13		15,600
	14,925,000		Province of Ontario Canada	0.130		04/17/13		14,924
	44,500,000		Province of Ontario Canada	0.150		04/18/13		44,497
	10,000,000		Province of Ontario Canada	0.130		04/19/13		9,999
	50,000,000		Province of Ontario Canada	0.150		04/23/13		49,996
	65,000,000		Province of Ontario Canada	0.130		04/30/13		64,992
	20,000,000		Province of Ontario Canada	0.155		06/06/13		19,994
	20,000,000		Province of Ontario Canada	0.150		06/13/13		19,994
	18,600,000		Province of Quebec Canada	0.100		04/24/13		18,599

384

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	29,600,000		Province of Quebec Canada	0.140	%	06/18/13	$	29,591
	49,800,000		Province of Quebec Canada	0.140		07/19/13		49,779
	89,000,000		Province of Quebec Canada	0.140		07/26/13		88,960
	5,175,000		Standard Chartered Bank NY	0.185		04/26/13		5,174
	50,000,000		Standard Chartered Bank NY	0.200		05/14/13		49,987
	33,240,000		Standard Chartered Bank NY	0.220		06/04/13		33,227
	25,000,000		Standard Chartered Bank NY	0.230		06/05/13		24,990
	10,000,000		Standard Chartered Bank NY	0.250		07/15/13		9,993
	20,000,000		Straight-A Funding LLC	0.190		04/03/13		20,000
	34,000,000		Straight-A Funding LLC	0.190		04/08/13		33,999
	25,000,000		Straight-A Funding LLC	0.190		04/09/13		24,999
	30,000,000		Straight-A Funding LLC	0.190		04/10/13		29,998
	15,000,000		Straight-A Funding LLC	0.190		04/18/13		14,999
	25,000,000		Straight-A Funding LLC	0.190		04/22/13		24,997
	27,000,000		Straight-A Funding LLC	0.180		06/04/13		26,991
	20,029,000		Thunder Bay Funding LLC	0.185		06/03/13		20,023
	15,000,000		Thunder Bay Funding LLC	0.180		06/10/13		14,995
	5,500,000		Thunder Bay Funding LLC	0.180		06/18/13		5,498
	21,750,000	y	Toronto-Dominion Holdings USA, Inc	0.180		04/09/13		21,749
	26,000,000	y	Toronto-Dominion Holdings USA, Inc	0.175		04/16/13		25,998
	10,000,000	y	Toronto-Dominion Holdings USA, Inc	0.170		04/23/13		9,999
	20,000,000	y	Toronto-Dominion Holdings USA, Inc	0.163		05/10/13		19,996
	4,871,000	y	Toronto-Dominion Holdings USA, Inc	0.220		08/21/13		4,867
	51,580,000	y	Unilever Capital Corp	0.145		05/30/13		51,568
	50,000,000	y	Unilever Capital Corp	0.160		06/04/13		49,986
	27,000,000	y	Unilever Capital Corp	0.155		06/07/13		26,992
	10,000,000	y	Unilever Capital Corp	0.150		06/11/13		9,997
	25,000,000	y	Unilever Capital Corp	0.170		07/30/13		24,986
	50,000,000		US Bank NA	0.150		06/14/13		49,985
	26,620,000	y	Variable Funding Capital Co LLC	0.140		04/01/13		26,620
	32,000,000	y	Variable Funding Capital Co LLC	0.150		04/02/13		32,000
	20,000,000	y	Variable Funding Capital Co LLC	0.150		04/05/13		20,000
	20,000,000	y	Variable Funding Capital Co LLC	0.140		04/08/13		20,000
	41,500,000	y	Variable Funding Capital Co LLC	0.140		04/12/13		41,498
	61,755,000	y	Variable Funding Capital Co LLC	0.160		04/25/13		61,748
	35,000,000	y	Wal-Mart Stores, Inc	0.100		04/05/13		35,000
	30,000,000	y	Wal-Mart Stores, Inc	0.110		04/11/13		29,999
	50,000,000	y	Wal-Mart Stores, Inc	0.120		06/19/13		49,987
			TOTAL COMMERCIAL PAPER					4,053,358
GOVERNMENT AGENCY DEBT - 30.8%
	10,000,000		Federal Farm Credit Bank (FFCB)	0.100		04/16/13		10,000
	25,000,000	i	FFCB	0.185		07/10/14		24,998
	70,000,000	i	FFCB	0.160		10/27/14		70,000
	1,000,000		Federal Home Loan Bank (FHLB)	0.115		04/02/13		1,000
	92,365,000		FHLB	0.100		04/03/13		92,364
	71,600,000		FHLB	0.070		04/05/13		71,599
	15,000,000		FHLB	0.100		04/08/13		15,000
	104,230,000		FHLB	0.075		04/10/13		104,228
	146,290,000		FHLB	0.080		04/12/13		146,286
	3,000,000		FHLB	0.120		04/15/13		3,000
	92,600,000		FHLB	0.085		04/17/13		92,596
	90,646,000		FHLB	0.070		04/19/13		90,641

385

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	63,930,000	FHLB	0.080	%	04/24/13	$	63,926
	114,708,000	FHLB	0.095		04/26/13		114,699
	26,500,000	FHLB	0.120		05/01/13		26,497
	88,200,000	FHLB	0.085		05/03/13		88,192
	58,250,000	FHLB	0.085		05/08/13		58,245
	120,000,000	FHLB	0.105		05/10/13		119,985
	80,830,000	FHLB	0.108		05/15/13		80,818
	4,000,000	FHLB	0.120		05/16/13		3,999
	100,000,000	FHLB	0.090		05/17/13		99,986
	10,000,000	FHLB	0.100		05/22/13		9,999
	25,350,000	FHLB	0.140		05/24/13		25,345
	102,300,000	FHLB	0.080		05/29/13		102,282
	55,000,000	FHLB	0.100		06/05/13		54,989
	40,000,000	FHLB	0.105		06/07/13		39,992
	122,333,000	FHLB	0.095		06/12/13		122,302
	63,704,000	FHLB	0.115		06/14/13		63,689
	3,000,000	FHLB	0.110		06/28/13		2,999
	18,255,000	FHLB	0.110		07/19/13		18,248
	1,130,000	Federal Home Loan Mortgage Corp (FHLMC)	0.165		04/01/13		1,130
	18,123,000	FHLMC	0.120		04/02/13		18,123
	16,700,000	FHLMC	0.085		04/03/13		16,700
	40,125,000	FHLMC	0.085		04/08/13		40,124
	25,040,000	FHLMC	0.073		04/09/13		25,040
	84,600,000	FHLMC	0.090		04/15/13		84,597
	32,800,000	FHLMC	0.125		04/16/13		32,798
	66,500,000	FHLMC	0.070		04/22/13		66,497
	18,629,000	FHLMC	0.085		04/23/13		18,628
	14,530,000	FHLMC	0.090		04/24/13		14,529
	100,000,000	FHLMC	0.090		04/29/13		99,993
	4,000,000	FHLMC	0.105		05/01/13		4,000
	114,000,000	FHLMC	0.090		05/06/13		113,987
	100,625,000	FHLMC	0.095		05/13/13		100,613
	6,145,000	FHLMC	0.100		05/14/13		6,144
	85,300,000	FHLMC	0.130		05/20/13		85,285
	6,600,000	FHLMC	0.110		05/23/13		6,599
	45,000,000	FHLMC	0.140		05/28/13		44,990
	10,000,000	FHLMC	0.120		06/03/13		9,998
	67,100,000	FHLMC	0.115		06/10/13		67,085
	6,800,000	FHLMC	0.140		06/11/13		6,798
	107,425,000	FHLMC	0.100		06/24/13		107,400
	25,000,000	FHLMC	0.100		06/25/13		24,994
	59,700,000	FHLMC	0.095		07/01/13		59,686
	10,913,000	FHLMC	0.115		07/22/13		10,909
	3,572,000	FHLMC	0.125		08/05/13		3,570
	27,000,000	Federal National Mortgage Association (FNMA)	0.080		04/02/13		27,000
	25,000,000	FNMA	0.120		04/03/13		25,000
	59,035,000	FNMA	0.085		04/10/13		59,034
	67,565,000	FNMA	0.084		04/24/13		67,561
	91,554,000	FNMA	0.080		05/01/13		91,547
	84,830,000	FNMA	0.100		05/08/13		84,820
	50,000,000	FNMA	0.090		05/20/13		49,994
	118,060,000	FNMA	0.110		05/22/13		118,039
	14,000,000	FNMA	0.090		05/29/13		13,997

386

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	36,851,000		FNMA	0.090	%	06/03/13	$	36,845
	64,730,000		FNMA	0.110		06/05/13		64,716
	4,500,000		FNMA	0.100		06/12/13		4,499
	35,000,000		FNMA	0.100		06/28/13		34,991
	23,664,000		FNMA	0.105		07/01/13		23,658
	17,000,000		FNMA	0.125		07/19/13		16,994
	5,000,000		FNMA	0.120		07/22/13		4,998
	12,665,000		FNMA	0.130		08/01/13		12,659
			TOTAL GOVERNMENT AGENCY DEBT					3,624,473
TREASURY DEBT - 17.1%
	63,680,000		United States Treasury Bill	0.100		04/04/13		63,679
	45,112,000		United States Treasury Bill	0.084		04/11/13		45,111
	10,000,000		United States Treasury Bill	0.067		04/18/13		10,000
	60,935,000		United States Treasury Bill	0.065		04/25/13		60,931
	25,050,000		United States Treasury Bill	0.077		05/02/13		25,047
	40,000,000		United States Treasury Bill	0.093		05/09/13		39,996
	20,000,000		United States Treasury Bill	0.070		05/16/13		19,998
	57,330,000		United States Treasury Bill	0.085		05/23/13		57,322
	50,000,000		United States Treasury Bill	0.110		05/30/13		49,990
	61,465,000		United States Treasury Bill	0.091		06/06/13		61,453
	67,400,000		United States Treasury Bill	0.091		06/13/13		67,388
	50,000,000		United States Treasury Bill	0.091		06/20/13		49,988
	70,000,000		United States Treasury Bill	0.077		06/27/13		69,984
	30,275,000		United States Treasury Bill	0.082		07/05/13		30,267
	20,000,000		United States Treasury Bill	0.086		07/18/13		19,995
	29,335,000		United States Treasury Bill	0.106		08/22/13		29,322
	20,112,000		United States Treasury Bill	0.128		12/12/13		20,092
	10,000,000		United States Treasury Bill	0.150		02/06/14		9,987
	95,000,000		United States Treasury Note	1.750		04/15/13		95,058
	100,000,000		United States Treasury Note	0.625		04/30/13		100,035
	98,000,000		United States Treasury Note	1.375		05/15/13		98,141
	100,000,000		United States Treasury Note	0.500		05/31/13		100,052
	25,000,000		United States Treasury Note	1.125		06/15/13		25,053
	95,545,000		United States Treasury Note	1.000		07/15/13		95,775
	100,000,000		United States Treasury Note	0.375		07/31/13		100,067
	100,000,000		United States Treasury Note	0.750		08/15/13		100,213
	41,290,000		United States Treasury Note	0.750		09/15/13		41,404
	97,170,000		United States Treasury Note	0.125		09/30/13		97,140
	119,715,000		United States Treasury Note	0.500		10/15/13		119,936
	104,035,000		United States Treasury Note	0.250		10/31/13		104,080
	100,000,000		United States Treasury Note	0.500		11/15/13		100,201
	40,000,000		United States Treasury Note	0.750		12/15/13		40,165
	15,792,000		United States Treasury Note	0.125		12/31/13		15,788
	14,930,000		United States Treasury Note	1.000		01/15/14		15,027
	24,810,000		United States Treasury Note	0.250		01/31/14		24,829
			TOTAL TREASURY DEBT					2,003,514
VARIABLE RATE SECURITIES - 13.5%
	25,050,000	i	Federal Farm Credit Bank (FFCB)	0.212		06/12/13		25,050
	32,435,000	i	FFCB	0.264		06/26/13		32,440
	69,750,000	i	FFCB	0.323		08/19/13		69,736
	45,000,000	i	FFCB	0.276		08/26/13		44,991

387

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	36,290,000	i	FFCB	0.320	%	08/26/13	$	36,289
	50,000,000	i	FFCB	0.250		09/23/13		49,995
	100,000,000	i	FFCB	0.340		09/23/13		99,998
	10,000,000	i	FFCB	0.260		10/15/13		9,995
	50,000,000	i	FFCB	0.360		11/01/13		50,000
	10,000,000	i	FFCB	0.170		01/21/14		9,999
	91,000,000	i	FFCB	0.250		02/10/14		90,984
	50,000,000	i	FFCB	0.190		03/13/14		49,994
	50,000,000	i	FFCB	0.173		04/16/14		50,000
	36,600,000	i	FFCB	0.220		07/21/14		36,612
	25,000,000	i	FFCB	0.196		09/19/14		25,000
	23,750,000	i	FFCB	0.280		10/14/14		23,754
	75,000,000	i	FFCB	0.240		10/27/14		74,976
	50,000,000	i	FFCB	0.176		12/12/14		50,000
	55,000,000	i	Federal Home Loan Bank (FHLB)	0.150		08/08/13		54,998
	100,000,000	i	FHLB	0.310		08/16/13		100,000
	50,000,000	i	FHLB	0.170		09/04/13		50,004
	100,000,000	i	FHLB	0.170		09/06/13		100,011
	22,070,000	i	Federal Home Loan Mortgage Corp (FHLMC)	0.155		05/06/13		22,069
	27,000,000	i	FHLMC	0.154		06/03/13		27,000
	17,000,000	i	FHLMC	0.174		11/04/13		17,001
	80,290,000	i	Federal National Mortgage Association (FNMA)	0.360		10/28/13		80,290
	80,000,000	i	FNMA	0.183		06/20/14		79,984
	50,000,000	i	Canadian Imperial Bank of Commerce	0.315		01/03/14		50,013
	50,000,000	i	Royal Bank of Canada	0.520		06/07/13		50,000
	69,000,000	i	Royal Bank of Canada	0.420		07/15/13		69,000
	50,000,000	i	Toronto-Dominion Bank	0.294		05/28/13		50,000
	10,000,000	i	Toronto-Dominion Bank	0.294		05/30/13		10,000
			TOTAL VARIABLE RATE SECURITIES					1,590,183
			TOTAL SHORT-TERM INVESTMENTS					11,698,698
			(Cost $11,698,698)
			TOTAL INVESTMENTS - 99.5%					11,698,698
			(Cost $11,698,698)
			OTHER ASSETS & LIABILITIES, NET - 0.5%					53,886
			NET ASSETS - 100.0%				$	11,752,584
	i		Floating or variable rate security. Coupon rate reflects the rate at period end.
	y		Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities are deemed liquid and may be sold in transactions exempt from registration only to dealers in that program or other “accredited investors.” At 03/31/2013, the aggregate value of these securities was $2,359,894,000 or 20.1% of net assets.
			Cost amounts are in thousands.

388

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 accreting or amortizing any discount or premium to its face value at a constant rate until maturity.

Investment transactions: 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 spreads, etc.)

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

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

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

Exchange-traded equity securities, common and preferred stock: Equity securities listed or traded on a national market or exchange are valued based on their sale price on such market or exchange at the close of business on the date of valuation, or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign investments are

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COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of investments (unaudited)

valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. For events affecting the value of foreign securities between the time when the exchange on which they are traded closes and the time when the 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, excluding investments in registered investement companies, 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.

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 March 31, 2013, there were no material transfers between levels by the Accounts.

As of March 31, 2013, 100% of the value of investments in the Inflation-Linked Bond, and Money Market Accounts were valued based on Level 2 inputs.

The following table summarizes the market value of the Accounts’ investments as of March 31, 2013, based on the inputs used to value them (amounts are in thousands):

Account	Level 1		Level 2		Level 3		Total
Stock
Consumer discretionary*	$	10,570,100		3,935,082		233	$	14,505,415
Consumer staples*		6,942,995		3,275,753		529		10,219,277
Energy*		8,111,874		2,571,791		13		10,683,678
Financials*		13,460,270		8,268,067		337		21,728,674
Health care*		10,022,465		2,586,846		1,951		12,611,262
Industrials*		9,014,169		3,981,746		463		12,996,378
Information technology*		13,905,934		2,391,771		71		16,297,776
Materials*		3,299,494		3,414,081		23,336		6,736,911
Telecommunication services*		1,766,730		1,268,153		-		3,034,883
Utilities*		2,599,312		1,026,932		2		3,626,246
Corporate bonds		-		4,331		-		4,331
Government bonds		-		301		-		301
Equity-linked notes		-		3,776		-		3,776
Short-term investments		-		6,114,752		-		6,114,752
Total	$	79,693,343		38,843,382		26,935	$	118,563,660
Global Equities
Australia	$	-		414,493		-	$	414,493
Canada		26,837		583,127		-		609,964
France*		-		515,506		-		515,506
Germany		-		570,149		-		570,149
Japan		-		1,307,773		-		1,307,773
Netherlands		9,562		341,505		-		351,067
Switzerland*		20,975		639,294		-		660,269
United Kingdom*		65,603		1,327,863		-		1,393,466
United States		8,615,468		23,223		-		8,638,691
Other*		85,969		1,588,623		-		1,674,592
Short-term investments		-		863,601		-		863,601
Futures**		985		-		-		985
Total	$	8,825,399		8,175,157		-	$	17,000,556

390

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of investments (unaudited)

Account	Level 1		Level 2			Level 3		Total
Growth
Consumer discretionary*	$	2,892,529	$	73,631		$	-	$	2,966,160
Consumer staples		1,476,871		48,086			-		1,524,957
Energy		510,831		10,875			-		521,706
Financials		1,057,373		-			-		1,057,373
Health care*		2,223,716		9,115			-		2,232,831
Industrials		2,072,425		14,472			-		2,086,897
Information technology		4,718,823		-			-		4,718,823
Materials		674,154		-			-		674,154
Telecommunication services		172,917		-			-		172,917
Utilities		10,157		-			-		10,157
Short-term investments		401,608		83,476			-		485,084
Futures**		603		-			-		603
Total	$	16,212,007	$	239,655		$	-	$	16,451,662
Equity Index
Consumer discretionary	$	1,671,967	$	-		$	-	$	1,671,967
Consumer staples		1,266,245		-			-		1,266,245
Energy		1,315,678		-			-		1,315,678
Financials		2,299,099		-			-		2,299,099
Health care		1,629,420		1			-		1,629,421
Industrials		1,497,343		-			-		1,497,343
Information technology		2,292,366		10			-		2,292,376
Materials		511,320		-			-		511,320
Telecommunication services		338,038		-			-		338,038
Utilities		464,821		-			-		464,821
Short-term investments		385,712		37,893			-		423,605
Futures**		334		-			-		334
Total	$	13,672,343	$	37,904		$	-	$	13,710,247
Bond Market
Bank loan obligations	$	-	$	23,735		$	-	$	23,735
Corporate bonds		-		4,819,291			-		4,819,291
Government bonds		-		8,426,949			-		8,426,949
Structured assets		-		770,740			-		770,740
Preferred stocks		6,525		-			-		6,525
Short-term investments		-		3,163,389			-		3,163,389
Swaps**		-		(371	)		-		(371	)
Total	$	6,525	$	17,203,733		$	-	$	17,210,258
Social Choice
Consumer discretionary	$	727,726	$	170,636		$	-	$	898,362
Consumer staples		489,634		156,548			-		646,182
Energy		537,969		142,213			-		680,182
Financials		1,170,941		384,129			-		1,555,070
Health care		646,757		137,182			-		783,939
Industrials		603,739		212,444			-		816,183
Information technology		952,079		58,438			-		1,010,517
Materials		265,020		177,827			-		442,847
Telecommunication services		84,509		72,792			-		157,301
Utilities		252,818		61,333			-		314,151
Corporate bonds		-		1,732,593			-		1,732,593
Government bonds		-		2,665,326			-		2,665,326
Structured assets		-		179,128			-		179,128
Short-term investments		-		1,306,922			-		1,306,922
Total	$	5,731,192	$	7,457,511		$	-	$	13,188,703

* Includes American Depositary Receipts at Level 1.

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

Note 3—derivative instruments

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

Futures contracts: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. The Accounts 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 daily changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or

391

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of investments (unaudited)

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 March 31, 2013, the Accounts held the following open futures contracts (amounts in thousands):

Account	Futures	Number of contracts ‡		Settlement value		Expiration date		Unrealized gain (loss)
Global Equities	S&P 500 Index E-mini		728	$	56,882		June 2013	$	985
Growth	S&P 500 Index E-mini		950		74,228		June 2013		603
Equity Index	Russell 2000 Mini index		22		2,088		June 2013		21
	S&P 500 Index E-mini		224		17,502		June 2013		187
	S&P Mid-Cap 400 Index E-mini		40		4,604		June 2013		126
Total			286	$	24,194			$	334
‡ Number of contracts are not in thousands.

Credit default swap contracts: Certain 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 Account 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 March 31, 2013, open credit default swap contracts sold by the Accounts were as follows:

Account	Reference entity	Counterparty	Maturity Date	Fixed payments received by fund per annum	Implied credit spread at 3/31/13 (1)	Notional amount (2)		Upfront premium paid (received)			Unrealized appreciation (depreciation)
Bond Market	Federative Republic of Brazil	UBS AG	9/20/22	1.00%	1.75%	$	5,500	$	(327	)	$	(44	)
(1) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues, U.S. municipal issues or sovereign issues of an emerging country as of period end, serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.
(2) The maximum potential amount the Account could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs is defined under the terms of that particular swap agreement.

392

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of investments (unaudited)

Note 4—affiliated investments

Companies in which an Account holds 5% or more of the outstanding voting shares are considered “affiliated companies” of the Account, pursuant to the 1940 Act. Information regarding transactions with affiliated companies is as follows (amounts are in thousands):

Issue	Value at December 31, 2012		Purchase cost		Sales proceeds		Realized gain (loss)		Dividend income		Shares at March 31, 2013†		Value at March 31, 2013
Stock Account
Allos Therapeutics, Inc	$	12	$	-	$	-	$	-	$	-		-	$	*
Japan Asia Investment Co Ltd		6,408		-		1,012		265		-		6,253,000		11,500
MPM Bioventures II		4,846		-		-		-		-		22,167,242		1,639
Skyline Venture Fund II Ltd		246		-		-		-		-		4,254,176		246
	$	11,512	$	-	$	1,012	$	265	$	-			$	13,385
Growth Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	327,923	$	125,600	$	51,915	$	-	$	-		401,608,463	$	401,608
Equity Index Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	303,938	$	116,177	$	34,403	$	-	$	-		385,711,961	$	385,712

^† Shares are not in thousands

* Not an affiliate investment as of March 31, 2013

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 accounts maintained by the securities lending agent for the purpose of investing cash collateral. In lending its securities, the Accounts bears the market risk with respect to the collateral investment as well as the securities loaned and also bears the risk that the counterparty may default on its obligations to the Account.

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 similar 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.

Equity-linked notes: Equity-linked notes are debt securities issued by banks or broker-dealers and are designed to offer a return linked to an underlying security or market index. Equity-linked notes are structured with a defined maturity date. When the note matures, the issuer will pay to, or receive from the Account, the difference between the nominal value of the underlying instrument at the time of purchase and that instrument’s value at maturity. The Account will record a realized gain or loss on the transaction. The note is valued daily and any change in the value of the note is reflected in net unrealized gains and losses. Investments in equity-linked notes involve the same risks associated with a direct investment in the underlying security or index that the note seeks to replicate. In addition, there is also counterparty risk associated with these investments because the Account is relying on the creditworthiness of such counterparty and has no rights under an equity-linked note against the issuer of the underlying security. As of March 31, 2013, the CREF Stock Account is a party to three equity-linked notes.

393

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of investments (unaudited)

Net unrealized appreciation (depreciation): At March 31, 2013, 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	$	19,886,207	$	(2,450,722	)	$	17,435,485
Global Equities		2,649,942		(294,250	)		2,355,692
Growth		3,203,006		(120,582	)		3,082,424
Equity Index		5,250,125		(865,119	)		4,385,006
Bond Market		517,216		(69,560	)		447,656
Inflation-Linked Bond		1,419,130		(569	)		1,418,561
Social Choice		2,284,595		(270,717	)		2,013,878

394

Item 2. Controls and Procedures.

(a) An evaluation was performed within 90 days of the filing date of the report under the supervision of the Registrant’s management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the Registrant’s disclosure controls and procedures. Based on that evaluation, the Registrant’s management, including the principal executive officer and principal financial officer, concluded that the Registrant’s disclosure controls and procedures were effective for this 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

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: May 17, 2013	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: May 17, 2013	By:	/s/Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		President and Chief Executive Officer (principal executive officer)

Date: May 17, 2013	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