N-Q

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)

Jeremy D. Franklin, Esq.

c/o TIAA-CREF

8500 Andrew Carnegie Blvd.

Charlotte, North Carolina 28262-8500

(Name and address of agent for service)

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

Date of fiscal year end: December 31

Date of reporting period: September 30, 2015

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2015

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BONDS - 0.0%
CORPORATE BONDS - 0.0%
CAPITAL GOODS - 0.0%
BRL	31,135	j,m	PDG Realty S.A. Empreendimentos e Participacoes		0.000	%	09/19/16	$	0	^
			TOTAL CAPITAL GOODS						0	^
DIVERSIFIED FINANCIALS - 0.0%
$	466,000	m	Asia Pacific Investment Partners		8.000		04/29/16		440
			TOTAL DIVERSIFIED FINANCIALS						440
FOOD, BEVERAGE & TOBACCO - 0.0%
BRL	800	m	Marfrig Global Foods S.A.		1.000		01/25/17		20
			TOTAL FOOD, BEVERAGE & TOBACCO						20
UTILITIES - 0.0%
INR	36,691,125		NTPC Ltd		8.490		03/25/25		589
			TOTAL UTILITIES						589
			TOTAL CORPORATE BONDS						1,049
			(Cost $1,119)
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						1,350
			(Cost $1,422)
SHARES			COMPANY
COMMON STOCKS - 99.3%
AUTOMOBILES & COMPONENTS - 2.2%
	50,085		Actron Technology Corp						155
	228,800		Aisan Industry Co Ltd						2,099
	731,401		Aisin Seiki Co Ltd						24,540
	383,100	e	Akebono Brake Industry Co Ltd						1,217
	426,218	*	American Axle & Manufacturing Holdings, Inc						8,499
	358,885		Amtek Auto Ltd						242

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	63,774		Amtek India Ltd	$	21
	486,106		Apollo Tyres Ltd		1,339
	66,065	e	ARB Corp Ltd		639
	52,825	*	Asahi India Glass Ltd		115
	14,821		AtlasBX Co Ltd		494
	3,620	e	Autoliv, Inc		395
	10,702		Autoneum Holding AG.		1,947
	143,449		Bajaj Holdings and Investment Ltd		5,066
	35,855		Balkrishna Industries Ltd		366
	385,798		Bayerische Motoren Werke AG.		33,658
	13,441		Bayerische Motoren Werke AG. (Preference)		924
	115,838		Bharat Forge Ltd		1,608
	275,584		BorgWarner, Inc		11,462
	12,741		Bosch Ltd		3,771
	136,832		Brembo S.p.A.		5,294
	856,542		Bridgestone Corp		29,642
	6,267,900		Brilliance China Automotive Holdings Ltd		7,452
	791,200	e	Byd Co Ltd		4,211
	441,000		Calsonic Kansei Corp		3,312
	59,885		Ceat Ltd		1,173
	514,000	e	Chaowei Power Holdings Ltd		263
	1,703,200		Cheng Shin Rubber Industry Co Ltd		2,801
	43,858		China Motor Corp		31
	3,858,445		Chongqing Changan Automobile Co Ltd		6,519
	182,526		Cie Automotive S.A.		2,542
	179,576		Compagnie Plastic-Omnium S.A.		4,125
	191,011		Continental AG.		40,797
	314,598		Cooper Tire & Rubber Co		12,430
	77,882	*,e	Cooper-Standard Holding, Inc		4,517
	26,388		Cub Elecparts, Inc		309
	20,201		Dae Won Kang Up Co Ltd		86
	24,400	e	Daido Metal Co Ltd		203
	117,667	*,e	Daihatsu Motor Co Ltd		1,361
	17,600	*	Daikyonishikawa Corp		817
	1,731,814		Daimler AG. (Registered)		126,081
	585,913		Dana Holding Corp		9,304
	3,531,602		Delphi Automotive plc		268,543
	464,001		Denso Corp		19,655
	274,000		Depo Auto Parts Ind Co Ltd		818
	18,566		Dong Ah Tire & Rubber Co Ltd		397
	3,335,050		Dongfeng Motor Group Co Ltd		4,186
	116,296		Dongyang Mechatronics Corp		572
	70,299	*,e	Dorman Products, Inc		3,577
	1,923,500		Double Coin Holdings Ltd		1,612
	2,173,100		Drb-Hicom BHD		659
	82,551		Drew Industries, Inc		4,508
	22,100		Eagle Industry Co Ltd		395
	66,000		E-Lead Electronic Co Ltd		93
	31,430		ElringKlinger AG.		605
	33,882	e	Exedy Corp		752
	725,087		Faurecia		22,613
	35,900		FCC Co Ltd		576

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	328,108		Federal Corp	$	142
	98,611	*,e	Federal Mogul Corp (Class A)		673
	2,252,630	*,e	Fiat DaimlerChrysler Automobiles NV		29,279
	10,766,735		Ford Motor Co		146,105
	50,311		Ford Otomotiv Sanayi AS		538
	34,168	*	Fox Factory Holding Corp		576
	682,625		Fuji Heavy Industries Ltd		24,564
	42,597	*,e	Futaba Industrial Co Ltd		154
	8,713,675		Geely Automobile Holdings Ltd		4,177
	7,950,000	*,m	General Motors Co		0	^
	85,268,000	*,e,m	General Motors Co		0	^
	2,788,825		General Motors Co		83,721
	722,689	*,e,m	General Motors Co		0	^
	26,439,191	*,m	General Motors Co		0	^
	18,507,434	*,m	General Motors Co		0	^
	6,062,000	*,m	General Motors Co		0	^
	24,057,000	*,m	General Motors Co		0	^
	35,983,677	*,m	General Motors Co		0	^
	40,684,487	*,m	General Motors Co		0	^
	4,230,271	*,e,m	General Motors Co		0	^
	1,031,944		Gentex Corp		15,995
	144,548	*	Gentherm, Inc		6,493
	1,793,886		GKN plc		7,287
	30,201		Global & Yuasa Battery Co Ltd		1,037
	3,783		Goodyear Lastikleri Turk AS.		76
	1,206,444		Goodyear Tire & Rubber Co		35,385
	64,496	e	Grammer AG.		1,480
	7,095,432		Great Wall Motor Co Ltd		7,917
	16,100		G-Tekt Corp		184
	2,931,971		Guangzhou Automobile Group Co Ltd		2,394
	37,455		Halla Climate Control Corp		1,245
	39,740		Halla Holdings Corp		1,992
	81,020		Hanil E-Hwa Co Ltd		920
	61,196		Hanil E-Wha Co Ltd		688
	77,409		Hankook Tire Co Ltd		2,591
	258,858	e	Harley-Davidson, Inc		14,211
	87,265		Hero Honda Motors Ltd		3,192
	1,967,291		Honda Motor Co Ltd		58,717
	48,953	*	Horizon Global Corp		432
	1,593,597		Hota Industrial Manufacturing Co Ltd		5,118
	383,099		Hu Lane Associate, Inc		1,470
	243,900	*	Hunan Tyen Machinery Co Ltd		118
	15,375		Hwa Shin Co Ltd		78
	12,982,000	*,e	Hybrid Kinetic Group Ltd		574
	164,657		Hyundai Mobis		32,218
	357,849		Hyundai Motor Co		49,727
	42,394		Hyundai Motor Co Ltd (2nd Preference)		4,087
	25,881		Hyundai Motor Co Ltd (Preference)		2,420
	18,748		Hyundai Wia Corp		2,049
	914,495		Isuzu Motors Ltd		9,183
	518,031		Johnson Controls, Inc		21,426
	216,896		Kayaba Industry Co Ltd		573

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	373,803		Keihin Corp	$	5,294
	487,189		Kenda Rubber Industrial Co Ltd		696
	626,118		Kia Motors Corp		28,383
	49,000		Kinugawa Rubber Industrial Co Ltd		243
	101,536	*	Koito Manufacturing Co Ltd		3,318
	414,149	*	Kongsberg Automotive ASA		207
	91,734	*	Kumho Tire Co, Inc		560
	119,500	*	Launch Tech Co Ltd		142
	800,173		Lear Corp		87,043
	33,067		Leoni AG.		1,766
	163,348		Linamar Corp		8,562
	42,000		Macauto Industrial Co Ltd		196
	688,363		Magna International, Inc (Class A)		33,018
	203,000		Magna International, Inc (Class A) (NY)		9,746
	545,627		Mahindra & Mahindra Ltd		10,539
	118,200		Mahle-Metal Leve S.A. Industria e Comercio		687
	6,854		Mando Corp		795
	239,411		Martinrea International, Inc		1,894
	17,354		Maruti Udyog Ltd		1,243
	2,684,479		Mazda Motor Corp		42,418
	344,636		Metair Investments Ltd		722
	90,115		Metaldyne Performance Group, Inc		1,893
	8,597		MGI Coutier		137
	282,798		Michelin (C.G.D.E.) (Class B)		25,874
	646,000		Minth Group Ltd		1,157
	36,400		Mitsuba Corp		488
	199,617		Mitsubishi Motors Corp		1,527
	129,924	*	Modine Manufacturing Co		1,022
	7,690	e	Montupet		453
	359,245		Motherson Sumi Systems Ltd		1,264
	10,426		Motonic Corp		109
	47,495	*	Motorcar Parts of America, Inc		1,488
	2,536		MRF Ltd		1,623
	22,300	e	Musashi Seimitsu Industry Co Ltd		391
	494,949		Nan Kang Rubber Tire Co Ltd		448
	1,407		Nexen Corp		100
	143,936		Nexen Tire Corp		1,750
	2,538,000	e	Nexteer Automotive Group Ltd		2,566
	121,244		NGK Spark Plug Co Ltd		2,783
	447,454		NHK Spring Co Ltd		4,339
	116,851	e	Nifco, Inc		3,994
	55,000	e	Nippon Seiki Co Ltd		1,066
	6,477,030		Nissan Motor Co Ltd		59,554
	184,941		Nissan Shatai Co Ltd		2,046
	37,100	e	Nissin Kogyo Co Ltd		556
	250,539		NOK Corp		5,421
	161,539	e	Nokian Renkaat Oyj		5,229
	464,900	e	Pacific Industrial Co Ltd		4,646
	431,200		PCS Machine Group Holding PCL		73
	996,067	*,e	Peugeot S.A.		15,093
	161,436	e	Piaggio & C S.p.A.		388
	8,000		Piolax Inc		367

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	83,369		Pirelli & C S.p.A.	$	1,395
	87,736		Porsche AG.		3,733
	360,700	e	Press Kogyo Co Ltd		1,379
	27,605,394		PT Astra International Tbk		9,888
	1,755,900		PT Gajah Tunggal Tbk		63
	37,283		Pyeong Hwa Automotive Co Ltd		431
	8,576,000	e	Qingling Motors Co Ltd		2,860
	73,925		Remy International, Inc		2,162
	1,373,449		Renault S.A.		99,098
	83,000	e	Riken Corp		275
	41,184		S&T Daewoo Co Ltd		2,313
	4,801		S&T Holdings Co Ltd		115
	45,636		SAF-Holland S.A.		602
	192,000		Sanden Corp		598
	460,920	*	Sanyang Industry Co Ltd		328
	11,074		Sejong Industrial Co Ltd		110
	284,400		Showa Corp		2,268
	57,614		SL Corp		906
	40,142	*	Sogefi S.p.A.		82
	932,825		Somboon Advance Technology PCL		409
	2,430,500		Sri Trang Agro-Industry PCL (Foreign)		751
	38,128	*	Ssangyong Motor Co		282
	59,326		Standard Motor Products, Inc		2,069
	182,887		Stanley Electric Co Ltd		3,649
	88,238	*	Stoneridge, Inc		1,089
	15,251	e	Strattec Security Corp		962
	1,048,625		Sumitomo Electric Industries Ltd		13,415
	525,073		Sumitomo Rubber Industries, Inc		7,289
	55,018		Sundram Fasteners Ltd		128
	29,390		Sungwoo Hitech Co Ltd		197
	57,189		Superior Industries International, Inc		1,068
	94,398		Suzuki Motor Corp		2,903
	2,143,653	e	T RAD Co Ltd		3,369
	25,400	e	Tachi-S Co Ltd		331
	61,900		Taiho Kogyo Co Ltd		666
	42,600	*,e	Takata Corp		468
	1,593,174		Tata Motors Ltd		7,247
	65,400		Teikoku Piston Ring Co Ltd		1,492
	237,329	*	Tenneco, Inc		10,625
	522,797	*,e	Tesla Motors, Inc		129,863
	209,052		Thor Industries, Inc		10,829
	648,000		Tianneng Power International Ltd		395
	1,392,517		Tofas Turk Otomobil Fabrik		8,266
	148,563		Tokai Rika Co Ltd		3,067
	39,000		Tokai Rubber Industries, Inc		340
	347,699		Tong Yang Industry Co Ltd		346
	108,400	e	Topre Corp		2,093
	105,146	*	Tower International, Inc		2,498
	102,800		Toyo Tire & Rubber Co Ltd		2,225
	66,277	e	Toyoda Gosei Co Ltd		1,303
	150,500	e	Toyota Boshoku Corp		2,555
	174,540		Toyota Industries Corp		8,303

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	5,778,002	*	Toyota Motor Corp	$	338,290
	95,000		TS Tech Co Ltd		2,591
	119,230		Tube Investments Of India		744
	58,089		Tung Thih Electronic Co Ltd		399
	51,900		Tupy S.A.		236
	124,883		TVS Motor Co Ltd		440
	538,566		UMW Holdings BHD		921
	38,500		Unipres Corp		733
	246,241		Valeo S.A.		33,434
	200,666	*	Visteon Corp		20,315
	135,375		Volkswagen AG.		15,950
	165,654		Volkswagen AG. (Preference)		18,197
	7,893		WABCO India Ltd		829
	74,567	e	Winnebago Industries, Inc		1,428
	440,000	*,e	Xinchen China Power Holdings Ltd		101
	3,134,000		Xingda International Holdings Ltd		629
	1,868,785	e	Xinyi Glass Holdings Co Ltd		839
	277,644		Yamaha Motor Co Ltd		5,586
	211,100		Yokohama Rubber Co Ltd		3,723
	299,000	e	Yorozu Corp		6,119
	612,646		Yulon Motor Co Ltd		549
	80,000		Zhejiang Shibao Co Ltd		62
			TOTAL AUTOMOBILES & COMPONENTS		2,469,124
BANKS - 8.0%
	44,407		1st Source Corp		1,368
	673,030		77 Bank Ltd		3,823
	249,793		Aareal Bank AG.		8,884
	3,385,791		Abu Dhabi Commercial Bank PJSC		7,079
	16,934	e	Access National Corp		345
	67,287,354		Agricultural Bank of China		25,555
	17,800		Aichi Bank Ltd		1,023
	2,512,873		Akbank TAS		5,637
	94,178		Al Khalij Commercial Bank		557
	1,263,197		Albaraka Turk Katilim Bankasi AS		556
	3,705,992	*	Aldermore Group plc		15,714
	35,146	*	Alior Bank S.A.		733
	410,123		Allahabad Bank		481
	1,123,200		Alliance Financial Group BHD		857
	4,362,394	*	Alpha Bank S.A.		523
	315,270	*,m	Amagerbanken AS		0
	32,984		American National Bankshares, Inc		773
	108,057		Ameris Bancorp		3,107
	32,098	e	Ames National Corp		736
	1,806,604		AMMB Holdings BHD		1,878
	16,996	*	Anchor BanCorp Wisconsin, Inc		724
	408,367		Andhra Bank		418
	8,489,391		Aozora Bank Ltd		29,444
	81,023		Apollo Residential Mortgage		1,026
	35,125		Arrow Financial Corp		938
	539,000		Ashikaga Holdings Co Ltd		2,252
	104,160	*	Asia United Bank		154

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	158,605		Associated Banc-Corp	$	2,850
	336,226		Astoria Financial Corp		5,413
	3,709,233		Australia & New Zealand Banking Group Ltd		70,869
	193,721		Awa Bank Ltd		1,117
	344,970		Axis Bank Ltd		2,616
	245,589		Banc of California, Inc		3,013
	44,848	*,e	Banca Carige S.p.A		73
	25,725,613		Banca Intesa S.p.A.		90,881
	4,195,251		Banca Intesa S.p.A. RSP		13,519
	479,572	*	Banca Monte dei Paschi di Siena S.p.A		855
	1,324,200		Banca Popolare dell’Emilia Romagna Scrl		10,921
	12,102,357		Banca Popolare di Milano		11,966
	1,211,761		Banca Popolare di Sondrio SCARL		5,552
	18,147		Bancfirst Corp		1,145
	989,770	e	Banche Popolari Unite Scpa		7,023
	173,567		Banco ABC Brasil S.A.		407
	6,723	*	Banco ABC Brasil S.A. (ADR)		15
	2,415,387		Banco Bilbao Vizcaya Argentaria S.A.		20,424
	352,247	*,e	Banco BPI S.A.		373
	1,351,857	*	Banco Bradesco S.A.		8,054
	4,797,151	*	Banco Bradesco S.A. (Preference)		25,919
	41,740,414	*,e	Banco Comercial Portugues S.A.		2,040
	206,194		Banco Davivienda S.A.		1,601
	65,800		Banco Daycoval S.A.		145
	25,347,762		Banco de Chile		2,642
	55,103		Banco de Credito e Inversiones		2,237
	2,433,434		Banco de Oro Universal Bank		5,397
	4,837,325	e	Banco de Sabadell S.A.		8,903
	2,055,527		Banco do Brasil S.A.		7,881
	178,847		Banco do Estado do Rio Grande do Sul		252
	16,063,377	*,m	Banco Espirito Santo S.A.		179
	58,200	*	Banco Industrial e Comercial S.A.		119
	6,589,254		Banco Itau Holding Financeira S.A.		44,061
	113,717		Banco Latinoamericano de Exportaciones S.A. (Class E)		2,633
	309,381	*	Banco Popolare SC		4,577
	394,305	e	Banco Popular Espanol S.A.		1,440
	1,019,103		Banco Santander Brasil S.A.		3,241
	7,612,939		Banco Santander Central Hispano S.A.		40,481
	67,995,554		Banco Santander Chile S.A.		3,084
	502,086		BanColombia S.A. (Preference)		4,059
	247,007		Bancorpsouth, Inc		5,871
	131,000		Bangkok Bank PCL		579
	655,700		Bangkok Bank PCL (ADR)		2,897
	493,755		Bangkok Bank PCL (Foreign)		2,169
	41,576,148	*,e	BANIF-Banco Internacional do Funchal S.A.		168
	56,163		Bank Handlowy w Warszawie S.A.		1,197
	1,308,876		Bank Hapoalim Ltd		6,586
	2,187,167	*	Bank Leumi Le-Israel		8,164
	399,436		Bank Millennium S.A.		619
	169,114	e	Bank Mutual Corp		1,299
	43,255,417		Bank of America Corp		673,919
	500,000		Bank of Baroda		1,408

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	147,161,403		Bank of China Ltd	$	63,461
	1,910,000		Bank of Chongqing Co Ltd		1,323
	15,163,940		Bank of Communications Co Ltd		10,570
	26,171	*	Bank of Cyprus Pcl		5
	1,274,873	e	Bank of East Asia Ltd		4,286
	113,344		Bank of Georgia Holdings plc		3,099
	39,755	e	Bank of Hawaii Corp		2,524
	35,974,680	*	Bank of Ireland		14,066
	33,600	e	Bank of Iwate Ltd		1,524
	472,824		Bank of Kaohsiung		122
	801,727		Bank of Kyoto Ltd		8,154
	24,093		Bank of Marin Bancorp		1,156
	1,041,850		Bank of Montreal		56,820
	148,000	e	Bank of Nagoya Ltd		569
	1,624,817		Bank of Nova Scotia		71,628
	24,000	e	Bank of Okinawa Ltd		993
	417,391		Bank of Queensland Ltd		3,417
	155,541		Bank of Saga Ltd		355
	242,001		Bank of the Ozarks, Inc		10,590
	1,113,487		Bank of the Philippine Islands		1,915
	225,200	e	Bank of the Ryukyus Ltd		3,313
	3,597,512		Bank of Yokohama Ltd		21,866
	159,316		Bank Pekao S.A.		6,475
	13,071,804		Bank Rakyat Indonesia		7,740
	36,663		Bank Zachodni WBK S.A.		2,836
	64,104		BankFinancial Corp		797
	1,751,115		Bankia S.A.		2,273
	1,111,549	e	Bankinter S.A.		8,189
	135,794		BankUnited		4,855
	76,432		Banner Corp		3,651
	6,283		Banque Cantonale Vaudoise		3,709
	1,515,500	e	Banregio Grupo Financiero SAB de C.V.		8,108
	16,463	e	Bar Harbor Bankshares		527
	1,165,369		Barclays Africa Group Ltd		14,329
	49,855,495		Barclays plc		184,505
	1,384,064		BB&T Corp		49,273
	269,740		BBCN Bancorp, Inc		4,052
	8,917	*,e	BBX Capital Corp		144
	30,592	*,e	Bear State Financial, Inc		272
	382,853		Bendigo Bank Ltd		2,676
	454,633	*	Beneficial Bancorp, Inc		6,028
	74,577		Berkshire Hills Bancorp, Inc		2,054
	86,781		Blue Hills Bancorp, Inc		1,202
	67,129		BNC Bancorp		1,492
	1,275,377		BNP Paribas		75,087
	6,699,872	e	BOC Hong Kong Holdings Ltd		19,760
	39,889	*	BofI Holding, Inc		5,139
	30,465	e	BOK Financial Corp		1,971
	274,151		Boston Private Financial Holdings, Inc		3,208
	12,935		BRE Bank S.A.		1,182
	50,363	e	Bridge Bancorp, Inc		1,345
	329,082		Brookline Bancorp, Inc		3,337

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	67,796		Bryn Mawr Bank Corp	$	2,106
	667,245		BS Financial Group, Inc		7,737
	23,708	*,e	BSB Bancorp, Inc		501
	6,108,222		Bumiputra-Commerce Holdings BHD		6,204
	17,563	*,e	C1 Financial, Inc		335
	36,496	*,m	CaixaBank S.A.		141
	21,942		Camden National Corp		886
	672,219	e	Canadian Imperial Bank of Commerce/Canada		48,297
	82,683	e	Canadian Western Bank		1,455
	56,611	*	Capital Bank Financial Corp		1,711
	40,550	e	Capital City Bank Group, Inc		605
	28,896		Capitec Bank Holdings Ltd		1,046
	358,218		Capitol Federal Financial		4,342
	86,434		Cardinal Financial Corp		1,989
	147,425	*	Cascade Bancorp		798
	294,976		Cathay General Bancorp		8,837
	117,483		Centerstate Banks of Florida, Inc		1,727
	136,993		Central Pacific Financial Corp		2,873
	13,150		Century Bancorp, Inc		536
	5,737,886		Chang Hwa Commercial Bank		2,833
	48,389		Charter Financial Corp		614
	128,256		Chemical Financial Corp		4,149
	889,266		Chiba Bank Ltd		6,315
	68,600		Chiba Kogyo Bank Ltd		382
	10,324,010		China Citic Bank		6,012
	169,664,791		China Construction Bank		113,223
	15,932,661		China Development Financial Holding Corp		4,298
	15,754,000		China Everbright Bank Co Ltd		6,884
	7,604,260		China Merchants Bank Co Ltd		18,534
	7,475,194	e	China Minsheng Banking Corp Ltd		6,929
	26,965,188		Chinatrust Financial Holding Co		13,939
	170,000		Chong Hing Bank Ltd		355
	19,624,014	e	Chongqing Rural Commercial Bank		11,157
	47,505		Chugoku Bank Ltd		705
	313,844		CIT Group, Inc		12,563
	12,041,736		Citigroup, Inc		597,391
	35,938	e	Citizens & Northern Corp		702
	397,977		Citizens Financial Group, Inc		9,496
	39,061	e	City Holding Co		1,926
	36,645		City National Corp		3,227
	112,773		City Union Bank Ltd		158
	120,916		Clifton Bancorp, Inc		1,678
	49,297	e	CNB Financial Corp		896
	93,980		CoBiz, Inc		1,223
	178,600		Columbia Banking System, Inc		5,574
	71,867		Comdirect Bank AG.		815
	139,570		Comerica, Inc		5,736
	74,661		Commerce Bancshares, Inc		3,402
	180,635		Commercial Bank of Qatar QSC		2,802
	2,453,393		Commercial International Bank		16,668
	5,228,744	*	Commerzbank AG.		55,225
	1,569,643	e	Commonwealth Bank of Australia		80,567

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	105,917	e	Community Bank System, Inc	$	3,937
	49,408		Community Trust Bancorp, Inc		1,754
	39,449	*,e	CommunityOne Bancorp		429
	123,367		ConnectOne Bancorp, Inc		2,381
	231,260,672		CorpBanca S.A.		2,039
	84,075		Credicorp Ltd (NY)		8,942
	3,019,547		Credit Agricole S.A.		34,763
	83,830		Credito Emiliano S.p.A.		577
	3,466,036		Criteria CaixaBank S.A.		13,376
	58,718	*	CU Bancorp		1,319
	171,146		Cullen/Frost Bankers, Inc		10,881
	67,502	*	Customers Bancorp, Inc		1,735
	277,548		CVB Financial Corp		4,635
	1,449,835		Dah Sing Banking Group Ltd		2,670
	550,064		Dah Sing Financial Holdings Ltd		3,013
	308,000	e	Daishi Bank Ltd		1,449
	439,402		Danske Bank AS		13,279
	2,371,434		DBS Group Holdings Ltd		27,068
	1,365,371	*	Development Credit Bank Ltd		2,991
	292,522		Dewan Housing Finance Corp Ltd		983
	180,947		DGB Financial Group Co Ltd		1,609
	105,540		Dime Community Bancshares		1,784
	572,252		DNB NOR Holding ASA		7,448
	126,526		Doha Bank QSC		1,746
	1,141,125		Dubai Islamic Bank PJSC		2,089
	8,159,208		E.Sun Financial Holding Co Ltd		4,809
	76,710	*	Eagle Bancorp, Inc		3,490
	922,503		East West Bancorp, Inc		35,443
	417,200	*	EastWest Banking Corp		179
	143,000		Eighteenth Bank Ltd		442
	28,175	e	Enterprise Bancorp, Inc		591
	68,858		Enterprise Financial Services Corp		1,733
	500,163		Erste Bank der Oesterreichischen Sparkassen AG.		14,535
	249,839	*	Essent Group Ltd		6,209
	10,954,134	*	Eurobank Ergasias SA		271
	336,110		EverBank Financial Corp		6,487
	4,302,102		Far Eastern International Bank		1,278
	19,023	*,e	Farmers Capital Bank Corp		473
	70,875	*	FCB Financial Holdings, Inc		2,312
	42,238		Federal Agricultural Mortgage Corp (Class C)		1,095
	4,852,478		Federal Bank Ltd		4,753
	61,504		Fidelity Southern Corp		1,300
	3,646,165		Fifth Third Bancorp		68,949
	68,106		Financial Institutions, Inc		1,688
	209,401		FinecoBank Banca Fineco S.p.A		1,392
	84,423		First Bancorp (NC)		1,435
	457,050	*	First Bancorp (Puerto Rico)		1,627
	38,095	e	First Bancorp, Inc		728
	80,404		First Busey Corp		1,598
	28,856	e	First Business Financial Services, Inc		679
	23,198		First Citizens Bancshares, Inc (Class A)		5,243
	239,294		First Commonwealth Financial Corp		2,175

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	55,774		First Community Bancshares, Inc	$	998
	66,967		First Connecticut Bancorp		1,080
	28,487		First Defiance Financial Corp		1,041
	160,282		First Financial Bancorp		3,058
	168,838	e	First Financial Bankshares, Inc		5,366
	48,030		First Financial Corp		1,554
	11,141,109		First Financial Holding Co Ltd		5,087
	2,691,945		First Gulf Bank PJSC		10,239
	800,081		First Horizon National Corp		11,345
	138,900		First International Bank Of Israel Ltd		1,726
	66,941		First Interstate Bancsystem, Inc		1,864
	100,164		First Merchants Corp		2,626
	396,019		First Midwest Bancorp, Inc		6,946
	12,700	e	First National Financial Corp		209
	39,345	*	First NBC Bank Holding Co		1,379
	312,124		First Niagara Financial Group, Inc		3,187
	45,846		First of Long Island Corp		1,239
	334,562		First Republic Bank		21,000
	424,241		FirstMerit Corp		7,496
	52,200	*	Flagstar Bancorp, Inc		1,073
	95,118		Flushing Financial Corp		1,904
	744,488		FNB Corp		9,641
	52,828		Fox Chase Bancorp, Inc		917
	12,405	*,e	Franklin Financial Network, Inc		277
	707,412		Fukuoka Financial Group, Inc		3,369
	453,588	e	Fulton Financial Corp		5,488
	180,294	e	Genworth MI Canada, Inc		3,884
	1,098,814	e	Genworth Mortgage Insurance Australia Ltd		1,786
	44,871		German American Bancorp, Inc		1,313
	887,981	*	Get Bank S.A.		201
	588,956	*	Getin Holding S.A.		231
	292,111		Glacier Bancorp, Inc		7,709
	25,131		Great Southern Bancorp, Inc		1,088
	256,835		Great Western Bancorp, Inc		6,516
	24,099	*	Green Bancorp, Inc		276
	120,974		Gruh Finance Ltd		491
	3,141,191		Grupo Aval Acciones y Valores		1,195
	4,056,838		Grupo Financiero Banorte S.A. de C.V.		19,870
	5,849,007		Grupo Financiero Inbursa S.A.		12,089
	2,017,757	e	Grupo Financiero Santander Mexico SAB de C.V.		2,989
	63,827		Guaranty Bancorp		1,051
	884,859		Gunma Bank Ltd		5,663
	120,116		Hachijuni Bank Ltd		853
	106,670	*,e	Hampton Roads Bankshares, Inc		203
	342,904		Hana Financial Group, Inc		7,661
	200,930		Hancock Holding Co		5,435
	1,430,588		Hang Seng Bank Ltd		25,806
	150,768		Hanmi Financial Corp		3,799
	246,323		HDFC Bank Ltd		4,024
	39,913		HDFC Bank Ltd (ADR)		2,438
	44,430		Heartland Financial USA, Inc		1,612
	76,999		Heritage Commerce Corp		873

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	140,397		Heritage Financial Corp	$	2,642
	74,559		Heritage Oaks Bancorp		593
	324,000		Higashi-Nippon Bank Ltd		1,064
	107,000	e,m	Higo Bank Ltd		783
	728,488	*	Hilltop Holdings, Inc		14,431
	2,705	e	Hingham Institution for Savings		314
	181,647		Hiroshima Bank Ltd		1,050
	702,000	e	Hokkoku Bank Ltd		2,848
	556,000		Hokuetsu Bank Ltd		1,132
	334,947		Hokuhoku Financial Group, Inc		767
	190,572		Home Bancshares, Inc		7,718
	68,354	e	Home Capital Group, Inc		1,641
	53,502		HomeStreet, Inc		1,236
	95,406	*	HomeTrust Bancshares, Inc		1,770
	539,297		Hong Leong Bank BHD		1,614
	320,912		Hong Leong Credit BHD		1,024
	31,223		Horizon Bancorp		742
	3,226,817		Housing Development Finance Corp		59,785
	18,829,685		HSBC Holdings plc		142,046
	99,600		HSBC Holdings plc (Hong Kong)		748
	7,482,222		Hua Nan Financial Holdings Co Ltd		3,492
	10,185,347		Hudson City Bancorp, Inc		103,585
	1,016,715		Huntington Bancshares, Inc		10,777
	238,692	e	Hyakugo Bank Ltd		1,151
	269,000		Hyakujushi Bank Ltd		971
	162,020		IBERIABANK Corp		9,431
	2,069,507		ICICI Bank Ltd		8,553
	22,814	e	ICICI Bank Ltd (ADR)		191
	20,006	*,e	Impac Mortgage Holdings, Inc		327
	68,342	e	Independent Bank Corp (MA)		3,151
	69,008		Independent Bank Corp (MI)		1,019
	41,503	e	Independent Bank Group, Inc		1,595
	124,614		Indian Bank		258
	229,111		IndusInd Bank Ltd		3,298
	152,851,566		Industrial & Commercial Bank of China		88,303
	754,779		Industrial Bank of Korea		8,693
	152,916		International Bancshares Corp		3,827
	4,108,613		Investors Bancorp, Inc		50,700
	541,290	*,m	Irish Bank Resolution Corp Ltd		0
	1,039,573	*	Israel Discount Bank Ltd		1,901
	145,400	e	Itau Unibanco Banco Multiplo S.A. (ADR)		963
	68,545		Iyo Bank Ltd		788
	406,618		Jammu & Kashmir Bank Ltd		560
	335,521		JB Financial Group Co Ltd		1,716
	319,900		Jimoto Holdings Inc		552
	713,525		Joyo Bank Ltd		3,759
	13,992,939		JPMorgan Chase & Co		853,150
	333,555	e	Juroku Bank Ltd		1,461
	73,096	*	Jyske Bank		4,044
	260,000	e,m	Kagoshima Bank Ltd		2,091
	44,700		Kansai Urban Banking Corp		519
	67,700		Kanto Tsukuba Bank Ltd		238

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	833,072		Karnataka Bank Ltd	$	1,612
	81,430	*	Karur Vysya Bank Ltd		556
	102,400		Kasikornbank PCL		484
	474,300		Kasikornbank PCL - NVDR		2,240
	2,003,706		Kasikornbank PCL (Foreign)		9,429
	911,588		KB Financial Group, Inc		27,097
	330,532		KBC Groep NV		20,904
	272,354		Kearny Financial Corp		3,124
	690,000		Keiyo Bank Ltd		3,670
	6,996,188		Keycorp		91,020
	337,632		Kiatnakin Bank PCL		286
	2,153,000		King’s Town Bank		1,530
	191,300		Kiyo Bank Ltd		3,071
	23,333	*	KJB Financial Group Co Ltd		152
	43,349		Komercni Banka AS		9,396
	4,146,370		Krung Thai Bank PCL (Foreign)		1,957
	141,312		Lakeland Bancorp, Inc		1,570
	65,499		Lakeland Financial Corp		2,957
	28,848		Laurentian Bank of Canada		1,088
	169,664		LegacyTexas Financial Group, Inc		5,171
	14,967	*,e	LendingTree, Inc		1,392
	4,031,728		LH Financial Group PCL		174
	1,159,727	*,e	Liberbank S.A.		699
	387,663		LIC Housing Finance Ltd		2,783
	11,306		Live Oak Bancshares, Inc		222
	51,126,926		Lloyds TSB Group plc		58,206
	68,197	e	M&T Bank Corp		8,317
	76,494		MainSource Financial Group, Inc		1,557
	11,373,248		Malayan Banking BHD		22,188
	666,602		Malaysia Building Society		222
	5,646,074	*,m	Marfin Popular Bank Public Co Ltd		63
	437,634		Masraf Al Rayan		5,177
	205,487		MB Financial, Inc		6,707
	24,256,357		Mega Financial Holding Co Ltd		16,849
	64,598		Mercantile Bank Corp		1,342
	16,900		Merchants Bancshares, Inc		497
	137,803		Meridian Bancorp, Inc		1,884
	47,094		Meta Financial Group, Inc		1,967
	2,028,483		Metropolitan Bank & Trust		3,544
	1,081,905	*	MGIC Investment Corp		10,018
	16,100		Midsouth Bancorp, Inc		188
	22,123		MidWestOne Financial Group, Inc		647
	68,000		Mie Bank Ltd		151
	223,000		Minato Bank Ltd		398
	21,354,179		Mitsubishi UFJ Financial Group, Inc		129,027
	2,951,361		Mitsui Trust Holdings, Inc		10,817
	368,000	e	Miyazaki Bank Ltd		1,247
	39,175		Mizrahi Tefahot Bank Ltd		463
	36,507,563		Mizuho Financial Group, Inc		68,291
	86,868		Musashino Bank Ltd		3,138
	220,928	e	Nanto Bank Ltd		698
	2,305,060		National Australia Bank Ltd		48,782

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	94,781	e	National Bank Holdings Corp	$	1,946
	723,382		National Bank of Abu Dhabi PJSC		1,879
	903,586	e	National Bank of Canada		28,844
	1,821,087	*	National Bank of Greece S.A.		783
	24,044	e	National Bankshares, Inc		748
	15,829	*,e	National Commerce Corp		380
	442,628		National Penn Bancshares, Inc		5,201
	103,863	*,e	Nationstar Mortgage Holdings, Inc		1,441
	2,733,835		Natixis		15,137
	115,802		NBT Bancorp, Inc		3,120
	384,323		Nedbank Group Ltd		6,103
	311,324	e	New York Community Bancorp, Inc		5,623
	116,499		NewBridge Bancorp		994
	1,636,300		Nishi-Nippon City Bank Ltd		4,496
	259,029	*	NMI Holdings, Inc		1,969
	1,853,586		Nordea Bank AB		20,680
	380,500		North Pacific Bank Ltd		1,508
	173,320	e	Northfield Bancorp, Inc		2,636
	2,955		Northrim BanCorp, Inc		85
	300,721	e	Northwest Bancshares, Inc		3,909
	55,974	e	OceanFirst Financial Corp		964
	318,055	*,e	Ocwen Financial Corp		2,134
	166,852	e	OFG Bancorp		1,457
	552,000		Ogaki Kyoritsu Bank Ltd		2,175
	378,000		Oita Bank Ltd		1,572
	308,204		Old National Bancorp		4,293
	77,122	*	Old Second Bancorp, Inc		480
	250,169		OneSavings Bank plc		1,476
	99,220		Opus Bank		3,794
	95,050		Oriental Bank of Commerce		190
	197,269		Oritani Financial Corp		3,081
	680,494	e	OTP Bank		13,136
	4,486,023	e	Oversea-Chinese Banking Corp		27,779
	76,434		Pacific Continental Corp		1,017
	121,674	*	Pacific Premier Bancorp, Inc		2,472
	345,372	e	PacWest Bancorp		14,785
	301,753		Paragon Group of Cos plc		1,805
	32,814	e	Park National Corp		2,960
	173,819		Park Sterling Bank		1,182
	76,631		Peapack Gladstone Financial Corp		1,622
	16,074	e	Penns Woods Bancorp, Inc		658
	52,510		Pennsylvania Commerce Bancorp, Inc		1,543
	35,756	*	PennyMac Financial Services, Inc		572
	63,745		Peoples Bancorp, Inc		1,325
	25,923	e	Peoples Financial Services Corp		905
	303,446		People’s United Financial, Inc		4,773
	3,067,276	*	Philippine National Bank		3,258
	1,143,695	*	Piccolo Credito Valtellinese Scarl		1,479
	140,802		Pinnacle Financial Partners, Inc		6,957
	30,265	*	Piraeus Bank S.A.		3
	741,450	e	PNC Financial Services Group, Inc		66,137
	80,430		Popular, Inc		2,431

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,058,284		Powszechna Kasa Oszczednosci Bank Polski S.A.	$	8,206
	59,322		Preferred Bank		1,875
	204,144		PrivateBancorp, Inc		7,825
	278,960		Prosperity Bancshares, Inc		13,700
	167,531		Provident Financial Services, Inc		3,267
	66,937,300		PT Bank Bukopin Tbk		2,883
	13,406,387		PT Bank Central Asia Tbk		11,256
	3,068,302		PT Bank Danamon Indonesia Tbk		607
	20,732,800		PT Bank Jabar Banten Tbk		873
	10,952,668		PT Bank Mandiri Persero Tbk		5,941
	9,404,213		PT Bank Negara Indonesia		2,664
	44,500,000	*	PT Bank Pan Indonesia Tbk		2,694
	33,999,900		PT Bank Pembangunan Daerah Jawa Timur Tbk		823
	13,924,794		PT Bank Tabungan Negara Tbk		948
	3,238,209		Public Bank BHD		12,912
	66,110		Qatar Islamic Bank SAQ		2,079
	256,486		Qatar National Bank		13,220
	33,913	e	QCR Holdings, Inc		742
	534,969		Radian Group, Inc		8,511
	38,865	e	Raiffeisen International Bank Holding AG.		511
	2,954,965		Regions Financial Corp		26,624
	102,778		Renasant Corp		3,376
	34,074		Republic Bancorp, Inc (Class A)		837
	2,448,035		Resona Holdings, Inc		12,473
	540,498		RHB Capital BHD		733
	368,120		Rizal Commercial Banking Corp		237
	5,200	*,m	Roskilde Bank		0
	76,701		Royal Bank of Canada		4,238
	2,454,723	e	Royal Bank of Canada (Toronto)		135,732
	2,279,067	*	Royal Bank of Scotland Group plc		10,874
	103,986		S&T Bancorp, Inc		3,392
	64,426		Sandy Spring Bancorp, Inc		1,687
	143,000		San-In Godo Bank Ltd		1,400
	6,542,473		Sberbank of Russian Federation (ADR)		32,397
	64,161	*	Seacoast Banking Corp of Florida		942
	538,100		Security Bank Corp		1,582
	354,989	*	Sekerbank TAS		163
	244,580		Senshu Ikeda Holdings, Inc		1,062
	83,587	e	ServisFirst Bancshares, Inc		3,471
	279,593	e	Seven Bank Ltd		1,210
	2,501,187	*,g	Shawbrook Group plc		11,994
	654,000	e	Shiga Bank Ltd		3,321
	808,920		Shinhan Financial Group Co Ltd		28,290
	7,872,179		Shinsei Bank Ltd		16,182
	434,400		Shizuoka Bank Ltd		4,360
	1,984,500		Siam Commercial Bank PCL (Foreign)		7,345
	50,318		Sierra Bancorp		803
	492,276	*	Signature Bank		67,717
	116,552		Simmons First National Corp (Class A)		5,586
	10,772,570		SinoPac Financial Holdings Co Ltd		3,415
	4,002,325		Skandinaviska Enskilda Banken AB (Class A)		42,806
	725,469		Societe Generale		32,422

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,578,170		South Indian Bank Ltd	$	892
	97,897		South State Corp		7,525
	66,894	e	Southside Bancshares, Inc		1,843
	74,457		Southwest Bancorp, Inc		1,222
	210,846		Spar Nord Bank A/s		2,405
	246,762		Sparebanken Midt-Norge		1,566
	206,916		Sparebanken Nord-Norge		880
	43,833	*,e	Square  Financial, Inc		1,125
	3,161		St Galler Kantonalbank		1,155
	2,059,194		Standard Bank Group Ltd		20,106
	1,453,476		Standard Chartered plc		14,106
	96,806		State Bank & Trust Co		2,002
	27,740		State Bank of Bikaner & Jaip		202
	2,217,400		State Bank of India		8,044
	494,791		Sterling Bancorp/DE		7,358
	37,312	e	Stock Yards Bancorp, Inc		1,356
	32,897		Stonegate Bank		1,046
	39,496	*,e	Stonegate Mortgage Corp		281
	38,418		Suffolk Bancorp		1,050
	3,538,242		Sumitomo Mitsui Financial Group, Inc		134,171
	27,048	*	Sun Bancorp, Inc		519
	1,277,887		SunTrust Banks, Inc		48,866
	357,990		Suruga Bank Ltd		6,661
	280,859	*	SVB Financial Group		32,450
	486,062		Svenska Handelsbanken AB		6,972
	1,810,764		Swedbank AB (A Shares)		40,055
	257,297		Sydbank AS		9,793
	447,627		Syndicate Bank		564
	312,636		Synovus Financial Corp		9,254
	1,596,653	*	Ta Chong Bank Co Ltd		644
	1,710,311		Taichung Commercial Bank		484
	8,938,685		Taishin Financial Holdings Co Ltd		3,177
	2,270,886	*	Taiwan Business Bank		564
	8,470,151		Taiwan Cooperative Financial Holding		3,506
	134,356		Talmer Bancorp Inc		2,237
	1,989,960		TCF Financial Corp		30,168
	863,628		TCS Group Holding plc (ADR)		1,511
	26,141		Territorial Bancorp, Inc		681
	120,334	*	Texas Capital Bancshares, Inc		6,308
	111,753		TFS Financial Corp		1,928
	2,254,600		Thanachart Capital PCL		1,974
	88,073	*	The Bancorp, Inc		671
	1,129,880		Tisco Bank PCL		1,113
	9,563,500		TMB Bank PCL (Foreign)		639
	229,000		Tochigi Bank Ltd		1,258
	194,000	e	Toho Bank Ltd		718
	25,593		Tokyo TY Financial Group, Inc		800
	165,500		Tomony Holdings, Inc		647
	40,478	e	Tompkins Trustco, Inc		2,160
	3,525,464		Toronto-Dominion Bank		138,958
	391,000		Towa Bank Ltd		344
	122,478	e	TowneBank		2,309

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	61,683		Trico Bancshares	$	1,516
	91,490	*	Tristate Capital Holdings, Inc		1,141
	83,656	*	Triumph Bancorp, Inc		1,405
	543,449		Trustco Bank Corp NY		3,174
	172,069		Trustmark Corp		3,987
	4,192,119		Turkiye Garanti Bankasi AS		9,756
	724,783		Turkiye Halk Bankasi AS		2,424
	2,752,633		Turkiye Is Bankasi (Series C)		4,291
	2,570,930		Turkiye Sinai Kalkinma Bankasi AS		1,199
	842,379		Turkiye Vakiflar Bankasi Tao		1,068
	129,151		UMB Financial Corp		6,562
	845,119		Umpqua Holdings Corp		13,775
	4,216,597		UniCredit S.p.A		26,287
	488,048		Union Bank of India		1,309
	1,566,039		Union Bank Of Taiwan		441
	151,129		Union Bankshares Corp		3,627
	180,892	e	United Bankshares, Inc		6,872
	241,732		United Community Banks, Inc		4,941
	133,466		United Community Financial Corp		667
	229,926		United Financial Bancorp, Inc (New)		3,001
	1,587,445		United Overseas Bank Ltd		20,727
	63,961		Univest Corp of Pennsylvania		1,229
	5,511,862		US Bancorp		226,041
	29,179		Valiant Holding		3,374
	603,613		Valley National Bancorp		5,940
	503,817		Vijaya Bank		264
	3,057,412		Virgin Money Holdings UK plc		17,903
	3,164,852		VTB Bank OJSC (GDR)		6,410
	70,188	*	Walker & Dunlop, Inc		1,831
	243,158		Washington Federal, Inc		5,532
	40,023		Washington Trust Bancorp, Inc		1,539
	74,560	e	Waterstone Financial, Inc		1,005
	293,629		Webster Financial Corp		10,462
	21,962,917		Wells Fargo & Co		1,127,796
	124,846		WesBanco, Inc		3,926
	52,134	e	West Bancorporation, Inc		978
	71,021	e	Westamerica Bancorporation		3,156
	425,349	*	Western Alliance Bancorp		13,062
	4,516,536	e	Westpac Banking Corp		94,878
	328,230		Wilshire Bancorp, Inc		3,450
	200,639		Wintrust Financial Corp		10,720
	718,149		Woori Bank		5,707
	76,959		WSFS Financial Corp		2,217
	75,015		Yadkin Financial Corp		1,612
	131,000	e	Yamagata Bank Ltd		524
	214,492	e	Yamaguchi Financial Group, Inc		2,629
	363,000		Yamanashi Chuo Bank Ltd		1,895
	824,884		Yapi ve Kredi Bankasi		920
	210,395		Yes Bank Ltd		2,349
	2,109,912		Zions Bancorporation		58,107
			TOTAL BANKS		8,750,870

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
CAPITAL GOODS - 7.1%
	2,970,834		3M Co	$	421,175
	248,913		A.O. Smith Corp		16,227
	111,257		Aalberts Industries NV		3,297
	109,856		Aaon, Inc		2,129
	95,002		AAR Corp		1,802
	1,151,074		ABB Ltd		20,367
	459,832	e	Abengoa S.A.		672
	225,821	e	Abengoa S.A. (B Shares)		210
	3,593,422		Aboitiz Equity Ventures, Inc		4,444
	365,000		AcBel Polytech, Inc		216
	166,931	*	Accuride Corp		462
	235,338		ACS Actividades Construccion y Servicios S.A.		6,771
	183,674		Actuant Corp (Class A)		3,378
	209,427		Acuity Brands, Inc		36,771
	728,762		Adani Enterprises Ltd		900
	47,606		Aditya Birla Nuvo Ltd		1,559
	550,000		Advan Co Ltd		4,242
	84,242	e	Advanced Drainage Systems, Inc		2,437
	82,796	*	Advanced Lithium Electrochemistry Co Ltd		89
	668,574	*	Aecom Technology Corp		18,392
	54,595		Aecon Group, Inc		556
	156,571	*	Aegion Corp		2,580
	731,783	*	AerCap Holdings NV		27,983
	162,321	*,e	Aerojet Rocketdyne Holdings, Inc		2,626
	64,100	*,e	Aerovironment, Inc		1,285
	13,256		AFG Arbonia-Forster Hldg		123
	14,888	e	AG Growth International Inc		400
	469,768	e	AGCO Corp		21,905
	47,382		AIA Engineering Ltd		718
	49,999	e	Aica Kogyo Co Ltd		1,000
	30,700		Aichi Corp		173
	228,100		Aida Engineering Ltd		1,881
	436,644		Air Lease Corp		13,501
	159,573		Aircastle Ltd		3,289
	109,740		Airtac International Group		580
	61,125		Akfen Holding AS.		178
	62,615		Alamo Group, Inc		2,927
	67,663		Alarko Holding AS		72
	130,409		Albany International Corp (Class A)		3,731
	140,597		Alfa Laval AB		2,302
	4,226,529		Alfa S.A. de C.V. (Class A)		8,243
	679,555		Allegion plc		39,183
	2,696,764		Alliance Global Group, Inc		886
	29,470		Allied Motion Technologies, Inc		524
	992,263		Allison Transmission Holdings, Inc		26,484
	31,744		Alstom Projects India Ltd		300
	311,047	*,e	Alstom RGPT		9,621
	90,117		Alstom T&D India Ltd		706
	68,858		Altra Holdings, Inc		1,592
	247,636		Amada Co Ltd		1,888
	57,178		Amara Raja Batteries Ltd		901

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	64,568	*,e	Ameresco, Inc	$	380
	25,178	e	American Railcar Industries, Inc		910
	19,062		American Science & Engineering, Inc		678
	119,966	*	American Woodmark Corp		7,782
	492,172		Ametek, Inc		25,750
	30,473		Andritz AG.		1,373
	139,208		Apogee Enterprises, Inc		6,216
	187,401		Applied Industrial Technologies, Inc		7,149
	2,693,306	*	Arabtec Holding Co		1,362
	65,408		Arcadis NV		1,541
	20,633	*,e	Arcam AB		364
	103,337		Argan, Inc		3,584
	25,236	*	Armstrong World Industries, Inc		1,205
	255,160	*	ArvinMeritor, Inc		2,712
	51,800	e	Asahi Diamond Industrial Co Ltd		471
	1,784,911		Asahi Glass Co Ltd		10,430
	2,167,157		Ashok Leyland Ltd		3,064
	2,919,689		Ashtead Group plc		41,289
	1,539,919		Assa Abloy AB		27,620
	273,562	e	Astaldi S.p.A.		2,497
	49,837		Astec Industries, Inc		1,670
	28,802		Astral Polytechnik Ltd		187
	60,147	*	Astronics Corp		2,432
	788,016		Asunaro Aoki Construction Co Ltd		4,869
	267,125	*	Atlas Copco AB (A Shares)		6,424
	94,658	*	Atlas Copco AB (B Shares)		2,117
	76,657	*	ATS Automation Tooling Systems, Inc		742
	2,565,070		Austal Ltd		4,070
	362,783	*,e	Aveng Ltd		94
	3,220,000	*,e	AVIC International Holding HK Ltd		352
	2,724,843		AviChina Industry & Technology Co		2,022
	66,922		AZZ, Inc		3,258
	52,733		B&B Tools AB		703
	44,257	*	Babcock & Wilcox Enterprises, Inc		744
	38,881	e	Badger Daylighting Ltd		568
	6,308,282		BAE Systems plc		42,761
	699,064		Balfour Beatty plc		2,662
	125,466	*,e	Ballard Power Systems, Inc		152
	162,000		Bando Chemical Industries Ltd		627
	458,000		Baoye Group Co Ltd		280
	585,481		Barloworld Ltd		3,195
	259,959		Barnes Group, Inc		9,372
	25,088		Bauer AG.		474
	13,302	e	BayWa AG.		429
	147,467		BE Aerospace, Inc		6,474
	56	*	Beacon Power Corp		0	^
	125,222	*	Beacon Roofing Supply, Inc		4,068
	592,441		Beijing Enterprises Holdings Ltd		3,569
	1,183,000	e,g	Beijing Urban Construction Design & Development Group Co Ltd		668
	11,481		BEML Ltd		218
	2,117,500		Berjaya Corp BHD		183

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,237,000		BES Engineering Corp	$	300
	337,310		Besalco S.A.		110
	83,757		Bharat Electronics Ltd		1,453
	771,327		Bharat Heavy Electricals		2,425
	379,793	e	Bidvest Group Ltd		8,963
	69,204		Biesse S.p.A.		1,048
	96,414	e	Bird Construction Income Fund		867
	151,885		Bizlink Holdings Inc		660
	179,600		BJC Heavy Industries PCL-F		33
	225,971	*	Blount International, Inc		1,259
	6,033	*,e	Blue Bird Corp		60
	21,573		Blue Star Ltd		116
	19,582		Bobst Group AG.		794
	409,862		Bodycote plc		3,415
	1,975,622		Boeing Co		258,708
	638,000	e	Boer Power Holdings Ltd		1,080
	434,000	e	Bolina Holding Co Ltd		126
	2,172,424	e	Bombardier, Inc		2,719
	175,326		Boskalis Westminster		7,674
	6,776		Bossard Holding AG.		635
	135,011		Bouygues S.A.		4,791
	774,087	e	Bradken Ltd		547
	80,641		Brenntag AG.		4,351
	121,275		Briggs & Stratton Corp		2,342
	6,572		Bucher Industries AG.		1,413
	23,129		Budimex S.A.		1,219
	123,545	*	Builders FirstSource, Inc		1,567
	56,500	e	Bunka Shutter Co Ltd		406
	289,160	e	Bunzl plc		7,759
	46,173		Burckhardt Compression Holding AG.		14,932
	11,374		Burkhalter Holding AG.		1,169
	627,872		BWX Technologies, Inc		16,551
	74,888		Byucksan Corp		580
	365,284		CAE, Inc		3,870
	531,168	e	Caesarstone Sdot-Yam Ltd		16,148
	456,000		Cahya Mata Sarawak BHD		534
	73,802	*	CAI International, Inc		744
	12,856		Carbone Lorraine		259
	175,555	e	Cardno Ltd		357
	35,194	e	Cargotec Corp (B Shares)		962
	1,480,606	e	Carillion plc		6,777
	76,944		Carlisle Cos, Inc		6,723
	424,374	e	Caterpillar, Inc		27,737
	564,300		CB Industrial Product Holding BHD		240
	20,124		CCL International Ltd		12
	1,171,327		Central Glass Co Ltd		5,119
	6,287		CENTROTEC Sustainable AG.		95
	44,728		Century Plyboards India Ltd		106
	2,803		Cera Sanitaryware Ltd		87
	1,260,000	*	CGN Mining Co Ltd		95
	2,410,575		CH Karnchang PCL		1,781
	152,300		Changchai Co Ltd		93

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	82,953	*	Chart Industries, Inc	$	1,594
	85,569	*	Cheil Industries, Inc		10,643
	255,728		Chemring Group plc		863
	550,300	*,m	Chengde Nanjiang Co Ltd		205
	214,457	e	Chicago Bridge & Iron Co NV		8,505
	393,283		Chicony Power Technology Co Ltd		445
	2,524,000	e	China Aircraft Leasing Group Holdings Ltd		2,519
	12,200,000	*	China Automation Group Ltd		1,300
	7,922,476		China Communications Construction Co Ltd		9,827
	1,522,000	e	China Conch Venture Holdings Ltd		3,238
	2,560,000	*,e	China Dynamics Holdings Ltd		122
	31,000		China Ecotek Corp		55
	1,640,000		China Energine International Holdings Ltd		132
	314,150		China Fangda Group Co Ltd		193
	958,000	*	China High Speed Transmission Equipment Group Co Ltd		936
	3,501,000	*,e	China Huarong Energy Co Ltd		141
	574,205		China International Marine Containers Group Co Ltd		1,012
	1,064,000		China Lesso Group Holdings Ltd		861
	2,462,863		China Railway Construction Corp		3,643
	15,411,697		China Railway Group Ltd		14,077
	1,854,400	e	China Singyes Solar Technologies Holdings Ltd		1,259
	2,302,656		China State Construction International Holdings Ltd		3,304
	1,475,600		Chip Eng Seng Corp Ltd		634
	170,900	e	Chiyoda Corp		1,168
	12,300		Chiyoda Integre Co Ltd		263
	19,094,000		Chongqing Machinery & Electric Co Ltd		2,534
	94,000	e	Chudenko Corp		1,826
	606,375		Chung Hsin Electric & Machinery Manufacturing Corp		301
	209,026		CIMIC Group Ltd		3,473
	354,162	*	CIR-Compagnie Industriali Riunite S.p.A.		355
	46,279		CIRCOR International, Inc		1,857
	4,486,084	e	Citic Pacific Ltd		8,190
	2,695,000	*,e	Citic Resources Holdings Ltd		395
	14,484		CJ Corp		3,234
	3,578,220		CK Hutchison Holdings Ltd		46,544
	200,200		CKD Corp		1,654
	164,765		Clarcor, Inc		7,856
	291,530		CNH Industrial NV		1,900
	195,266		Coastal Contracts BHD		83
	391,853		Cobham plc		1,696
	372,834	*	Cofide S.p.A.		177
	185,869	*,e	Colfax Corp		5,559
	75,317		Columbus McKinnon Corp		1,368
	185,513		Comfort Systems USA, Inc		5,057
	66,609	*	Commercial Vehicle Group, Inc		268
	2,188,334		Compagnie de Saint-Gobain		94,974
	20,724		Compagnie d’Entreprises CFE		2,630
	140,900	e	COMSYS Holdings Corp		1,681
	48,434	e	Concentric AB		563
	837,300		Concepcion Industrial Corp		717
	3,790,000	e	Concord New Energy Group Ltd		255
	73,386	*,e	Consolidated Infrastructure Group Ltd		175

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,852	e	Construcciones y Auxiliar de Ferrocarriles S.A.	$	571
	196,376	*	Continental Building Products Inc		4,034
	1,087,450		Continental Engineering Corp		307
	1,016		Conzzeta AG.		671
	1,080,000	e,m	Cosco Corp Singapore Ltd		285
	18,685		Cosel Co Ltd		181
	9,845	*	COSON Co Ltd		237
	173,772		Costain Group plc		954
	87,533		Cramo Oyj (Series B)		1,828
	111,938		Crane Co		5,217
	818,022		Crompton Greaves Ltd		2,135
	43,011		CS Wind Corp		769
	428,590		CSBC Corp Taiwan		167
	7,345,301	e	CSR Corp Ltd		9,367
	675,629		CTCI Corp		810
	92,477		Cubic Corp		3,878
	375,707		Cummins, Inc		40,794
	188,713		Curtiss-Wright Corp		11,779
	34,117		Daelim Industrial Co		1,943
	57,141		Daesang Holdings Co Ltd		1,172
	7,457		Daetwyler Holding AG.		1,012
	121,847	*	Daewoo Engineering & Construction Co Ltd		658
	57,019		Daewoo International Corp		1,003
	5,050		Daewoo Shipbuilding & Marine Engineering Co Ltd		27
	86,900		Daifuku Co Ltd		1,194
	93,641		Daihen Corp		444
	64,000	e	Daiichi Jitsugyo Co Ltd		308
	170,075		Daikin Industries Ltd		9,539
	23,600		Daiwa Industries Ltd		161
	50,000		Dalian Refrigeration Co Ltd		48
	1,123,525		Danaher Corp		95,736
	12,308		Danieli & Co S.p.A.		240
	94,152		Danieli & Co S.p.A. (RSP)		1,437
	115,513		DCC plc		8,729
	180,598	e	Deere & Co		13,364
	32,600		Denyo Co Ltd		517
	323,921	e	Deutz AG.		1,087
	32,061	e	Dialight plc		308
	4,291,356		Dialog Group BHD		1,567
	271,062	*	DigitalGlobe, Inc		5,156
	223,511		Diploma plc		2,248
	86,941	*,e	DIRTT Environmental Solutions		369
	4,486,660		DMCI Holdings, Inc		1,227
	1,034,376	*	Dogan Sirketler Grubu Holdings		174
	79,897	e	Donaldson Co, Inc		2,244
	27,148	*	Dong Yang Gang Chul Co Ltd		154
	26,169		Dongkuk Structures & Construction Co Ltd		77
	21,157		Doosan Corp		1,984
	21,971	*	Doosan Engine Co Ltd		83
	48,928		Doosan Heavy Industries and Construction Co Ltd		877
	132,357	*	Doosan Infracore Co Ltd		738
	126,150		Douglas Dynamics, Inc		2,505

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	271,470		Dover Corp	$	15,523
	39,779	*	Ducommun, Inc		798
	104,520		Duerr AG.		7,353
	72,391	e	Duro Felguera S.A.		167
	61,586	*	DXP Enterprises, Inc		1,680
	150,094	*,e	Dycom Industries, Inc		10,861
	2,017,800		Dynasty Ceramic PCL		206
	858		e Tec E&C Ltd		111
	1,975,360		Eaton Corp		101,336
	893,828	e	Ebara Corp		3,302
	930,900		EEI Corp		151
	14,213		Eicher Motors Ltd		3,863
	101,893		Eiffage S.A.		6,303
	62,720		Elbit Systems Ltd		4,636
	1,801		Electra Israel Ltd		223
	58,000	*	ElSwedy Cables Holding Co		319
	53,684	*,g	Eltel AB		590
	180,056		EMCOR Group, Inc		7,967
	374,905		Emerson Electric Co		16,560
	1,020,184		Empresa Brasileira de Aeronautica S.A.		6,562
	516,300	*,e	Empresas ICA Sociedad Controladora S.A. de C.V.		217
	67,926		Encore Wire Corp		2,219
	116,101		EnerSys		6,221
	84,704	e	Engility Holdings, Inc		2,184
	185,314		Engineers India Ltd		541
	618,506		Enka Insaat ve Sanayi AS		1,022
	75,746	*,e	Enphase Energy, Inc		280
	61,279		EnPro Industries, Inc		2,400
	444,000	e	Enric Energy Equipment Holdings Ltd		255
	30,000	*,e	EPCO Co Ltd		389
	67,476		ESCO Technologies, Inc		2,422
	76,379	*	Esterline Technologies Corp		5,491
	662,835		European Aeronautic Defence and Space Co		39,253
	3,626,000		EVA Precision Industrial Holdings Ltd		711
	22,585	*,e	FACC AG.		164
	15,250		Faiveley S.A.		1,575
	160,441	*	Fanuc Ltd		24,682
	672,000		Far East Global Group Ltd		97
	6,820,143		Far Eastern Textile Co Ltd		6,090
	598,266	e	Fastenal Co		21,903
	11,415,000	*,e	FDG Electric Vehicles Ltd		825
	278,762		Federal Signal Corp		3,822
	1,265		Feintool International Holding AG.		116
	192,074	e	Fenner plc		479
	2,044,356		Ferreyros S.A.		797
	690,770		Ferrovial S.A.		16,523
	478,828	*,e	Fincantieri S.p.A		364
	680,175	*	Finmeccanica S.p.A.		8,518
	421,740		Finning International, Inc		6,188
	139,765		Finolex Cables Ltd		499
	378,000	e	First Tractor Co		223
	50,563		Flowserve Corp		2,080

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	280,280	e	FLSmidth & Co AS	$	9,302
	56,056		Fluor Corp		2,374
	128,468	*,e	Fomento de Construcciones y Contratas S.A.		949
	799,610		Fortune Brands Home & Security, Inc		37,957
	728,130		Foshan Electrical and Lighting Co Ltd		613
	3,042,451		Fosun International		5,253
	123,714		Franklin Electric Co, Inc		3,369
	86,684		Freightcar America, Inc		1,488
	160,800	e	Fudo Tetra Corp		214
	705,915	*,e	FuelCell Energy, Inc		519
	879,438	*	Fuji Electric Holdings Co Ltd		3,189
	233,692	e	Fuji Machine Manufacturing Co Ltd		2,056
	809,978		Fujikura Ltd		3,349
	69,200	e	Fujitec Co Ltd		605
	26,000		Fukuda Corp		248
	11,200	e	Fukushima Industries Corp		227
	89,580	*	Furmanite Corp		545
	368,000	e	Furukawa Co Ltd		778
	972,000		Furukawa Electric Co Ltd		1,530
	110,919	e	Futaba Corp/Chiba		1,434
	216,831		Galliford Try plc		5,213
	541,998		Gamesa Corp Tecnologica S.A.		7,524
	2,019,351		Gamuda BHD		2,016
	84,503		GATX Corp		3,731
	41,227		GEA Group AG.		1,572
	7,963		Geberit AG.		2,436
	13,300	e	Gecoss Corp		114
	176,550	*,e	Generac Holdings, Inc		5,312
	151,716		General Cable Corp		1,805
	1,088,063		General Dynamics Corp		150,098
	31,771,020		General Electric Co		801,265
	4,345		Georg Fischer AG.		2,463
	2,664		Gesco AG.		204
	104,307	*	Gibraltar Industries, Inc		1,914
	8,100	e	Giken Seisakusho Co, Inc		109
	41,875		Gildemeister AG.		1,609
	173,261		Global Brass & Copper Holdings, Inc		3,554
	126,656		Glory Ltd		2,994
	1,457,607		GMR Infrastructure Ltd		302
	48,463	e	Gorman-Rupp Co		1,162
	67,282	e	Graco, Inc		4,510
	513,940		Grafton Group plc		5,210
	30,419	e	Graham Corp		537
	98,730		Granite Construction, Inc		2,929
	141,736	*	Great Lakes Dredge & Dock Corp		714
	68,627		Greaves Cotton Ltd		135
	69,879	e	Greenbrier Cos, Inc		2,244
	91,509		Griffon Corp		1,443
	74,410	*,e	Grontmij (ADR)		383
	190,149		Group Five Ltd		258
	532,961	e	Grupo Carso S.A. de C.V. (Series A1)		2,388
	175,700	*,e	Grupo Rotoplas SAB de C.V.		290

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	60,347	*	GS Engineering & Construction Corp	$	1,258
	367,000	e	GS Yuasa Corp		1,385
	394,500		Gunkul Engineering PCL		219
	838,000	e	Guodian Technology & Environment Group Corp Ltd		73
	195,887	e	GWA International Ltd		343
	80,739		H&E Equipment Services, Inc		1,350
	835,360		Haitian International Holdings Ltd		1,383
	152,731		Haldex AB		1,610
	25,244	*	Halim Co Ltd		114
	15,187	*	Halla Engineering & Construction Corp		51
	549,730		Hangzhou Steam Turbine Co		1,125
	55,873	*	Hanjin Heavy Industries & Construction Co Ltd		195
	2,468,395	e	Hanwa Co Ltd		9,073
	3,156,000	e	Harbin Power Equipment		1,743
	23,200	e	Harmonic Drive Systems, Inc		332
	370,974		Harsco Corp		3,365
	368,668		Havells India Ltd		1,420
	514,900		Hazama Ando Corp		3,294
	129,794	*,e	HC2 Holdings, Inc		910
	557,283	*	HD Supply Holdings, Inc		15,949
	63,544		HEICO Corp		3,106
	102,310		HEICO Corp (Class A)		4,646
	246,714	*,e	Heidelberger Druckmaschinen		633
	115,036	*	Hellenic Technodomiki Tev S.A.		196
	292,578		HellermannTyton Group plc		2,066
	77,729	e	Hexagon Composites ASA		137
	322,244		Hexcel Corp		14,456
	39,300	e	Hibiya Engineering Ltd		438
	164,248		Hillenbrand, Inc		4,272
	490,930	*	Hindustan Construction Co		140
	308,120		Hino Motors Ltd		3,140
	19,300		Hisaka Works Ltd		144
	104,891	e	Hitachi Construction Machinery Co Ltd		1,406
	113,000	e	Hitachi Koki Co Ltd		789
	176,800		Hitachi Zosen Corp		918
	229,384		Hiwin Technologies Corp		1,225
	4,432,000	*,e	HKC Holdings Ltd		98
	4,368		Hochtief AG.		365
	554,835		Hock Seng Lee BHD		222
	5,251,847		Honeywell International, Inc		497,298
	173,000		Hong Leong Asia Ltd		108
	1,490,800		Hopewell Holdings		5,078
	45,200		Hoshizaki Electric Co Ltd		3,168
	111,222		Hosken Consolidated Investments Ltd		1,108
	18,230		Houston Wire & Cable Co		116
	5,681,000	e	Hsin Chong Construction Group Ltd		677
	81,780	g	HSS Hire Group plc		76
	370,000		HUA ENG Wire & Cable		78
	109,800		Huangshi Dongbei Electrical Appliance Co Ltd		120
	96,995		Hubbell, Inc (Class B)		8,240
	26,430		Huber & Suhner AG.		1,138
	62,155		Hudaco Industries Ltd		489

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	212,293		Huntington Ingalls	$	22,747
	26,543		Hurco Cos, Inc		696
	7,844		Hy-Lok Corp		226
	23,588		Hyster-Yale Materials Handling, Inc		1,364
	72,252	m	Hyundai Corp		2,252
	64,272		Hyundai Development Co		2,968
	7,441	*	Hyundai Elevator Co Ltd		323
	409,530		Hyundai Engineering & Construction Co Ltd		11,877
	44,587		Hyundai Heavy Industries		3,651
	9,494		Hyundai Mipo Dockyard		536
	25,147	*	Hyundai Rotem Co Ltd		367
	23,400		Idec Corp		180
	80,848		IDEX Corp		5,764
	3,621,014		IJM Corp BHD		2,652
	361,273		Illinois Tool Works, Inc		29,736
	79,024		IMARKETKOREA, Inc		1,963
	77,342		IMI plc		1,111
	14,577		Implenia AG.		722
	218,473	e	Impregilo S.p.A.		831
	12,771		IMS-Intl Metal Service		173
	68,910	e	Inaba Denki Sangyo Co Ltd		2,079
	50,300		Inabata & Co Ltd		525
	61,702		Indus Holding AG.		2,761
	45,001	e	Industria Macchine Automatiche S.p.A.		2,012
	215,469		Industries Qatar QSC		7,294
	62,139		Indutrade AB		2,842
	6,440		Ingersoll-Rand India Ltd		75
	1,323,403		Ingersoll-Rand plc		67,189
	63,362		Insteel Industries, Inc		1,019
	72,811		Interpump Group S.p.A.		971
	301,113		Interserve plc		2,627
	103,004	e	Invicta Holdings Ltd		435
	145,488		Inwido AB		1,499
	494,700		Iochpe-Maxion S.A.		1,890
	912,526		IRB Infrastructure Developers Ltd		3,317
	8,766		IS Dongseo Co Ltd		393
	158,000	e	Iseki & Co Ltd		228
	1,546		ISGEC Heavy Engineering Ltd		112
	284,000		I-Sheng Electric Wire & Cable Co Ltd		265
	5,544,301		Ishikawajima-Harima Heavy Industries Co Ltd		14,247
	1,469,250	*	Italian-Thai Development PCL		329
	2,000,133		Itochu Corp		21,144
	101,004		ITT Corp		3,377
	64,128	*	IVRCL Infrastructures & Projects Ltd		7
	180,000	e	Iwatani International Corp		1,022
	186,802	*	Jacobs Engineering Group, Inc		6,992
	313,431		Jain Irrigation Systems Ltd		307
	9,100		Jamco Corp		351
	157,604		Japan Pulp & Paper Co Ltd		424
	347,000	e	Japan Steel Works Ltd		1,099
	4,291,936		JG Summit Holdings (Series B)		6,527
	52,481		JGC Corp		696

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	9,538,000	e	Jiangnan Group Ltd	$	1,966
	730,000	e	Jingwei Textile Machinery		1,098
	120,555		John Bean Technologies Corp		4,611
	1,051,880		John Keells Holdings plc		1,266
	145,695	*,g	John Laing Group plc		434
	442,375		Johnson Electric Holdings Ltd		1,461
	172,879	e	Joy Global, Inc		2,581
	1,394,291		JTEKT Corp		19,521
	29,000	e	Juki Corp		311
	15,783		Jungheinrich AG.		1,144
	3,337	*	JVM Co Ltd		157
	62,856		Kadant, Inc		2,452
	45,383		Kajaria Ceramics Ltd		553
	185,724		Kajima Corp		986
	29,139		Kalpataru Power Transmission Ltd		113
	227,700	*	Kama Co Ltd		191
	86,466		Kaman Corp		3,100
	57,900		Kamei Corp		542
	27,100	e	Kanamoto Co Ltd		488
	451,000		Kandenko Co Ltd		2,915
	472,000		Kanematsu Corp		662
	5,843		Kardex AG.		387
	17,900	e	Katakura Industries Co Ltd		191
	48,000	e	Kato Works Co Ltd		193
	2,021,171	e	Kawasaki Heavy Industries Ltd		6,978
	286,474		KBR, Inc		4,773
	6,848		KCC Corp		2,392
	715,988	e	KCI Konecranes Oyj		17,925
	642,146		Keihan Electric Railway Co Ltd		4,283
	82,824		Keller Group plc		1,083
	10,712		Kendrion NV		260
	1,262,087		Kennametal, Inc		31,413
	22,300		Kepler Weber S.A.		118
	1,245,977		Keppel Corp Ltd		5,959
	90,235	*,e	KEYW Holding Corp		555
	120,611		Kier Group plc		2,463
	437,600		Kinden Corp		5,550
	102,500		King Slide Works Co Ltd		1,402
	165,624		Kingspan Group plc		4,003
	102,000		Kinik Co		151
	129,075		KION Group AG.		5,736
	335,800		Kitz Corp		1,494
	97,624	e	Kloeckner & Co AG.		800
	136,056	*	KLX, Inc		4,863
	707,306		KOC Holding AS		2,761
	763,783		Komatsu Ltd		11,211
	9,204		Komax Holding AG.		1,494
	118,690		Komori Corp		1,225
	306,048	e	Kone Oyj (Class B)		11,647
	235,169		Koninklijke BAM Groep NV		1,100
	1,807,203		Koninklijke Philips Electronics NV		42,518
	50,516		Korea Aerospace Industries Ltd		2,910

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	7,044		Korea Cast Iron Pipe Industries Co Ltd	$	88
	16,713		Korea Electric Terminal Co Ltd		1,438
	119,384	*,e	Kratos Defense & Security Solutions, Inc		504
	40,761		Krones AG.		4,296
	591,158		Kubota Corp		8,136
	98,561	e	KUKA AG.		7,564
	562,000		Kumagai Gumi Co Ltd		1,758
	20,006	*	Kumho Industrial Co Ltd		303
	452,000		Kung Long Batteries Industrial Co Ltd		1,719
	163,000		Kuo Toong International Co Ltd		157
	38,698		Kurita Water Industries Ltd		822
	33,170	e	Kuroda Electric Co Ltd		616
	86,100	e	Kyokuto Kaihatsu Kogyo Co Ltd		861
	294,700		Kyowa Exeo Corp		2,850
	125,000		Kyudenko Corp		2,085
	5,345		Kyung Dong Navien Co Ltd		175
	244,041		L-3 Communications Holdings, Inc		25,507
	2,565		Lakshmi Machine Works Ltd		140
	584,035		Larsen & Toubro Ltd		13,092
	11,347	*,e	Lawson Products, Inc		246
	57,729		LB Foster Co (Class A)		709
	105,434		Legrand S.A.		5,609
	165,205		Lennox International, Inc		18,723
	259,675		LG Corp		13,369
	23,577		LG Hausys Ltd		3,206
	123,970		LG International Corp		2,851
	140,511		Lincoln Electric Holdings, Inc		7,367
	65,994	e	Lindab International AB		491
	31,366	e	Lindsay Manufacturing Co		2,126
	21,750		LISI		589
	225,165		LIXIL Group Corp		4,583
	712,590		Lockheed Martin Corp		147,727
	7,016,000		Lonking Holdings Ltd		929
	15,595		LS Cable Ltd		454
	14,320		LS Industrial Systems Co Ltd		550
	58,960		LSI Industries, Inc		498
	228,000	*	Luoyang Glass Co Ltd		151
	44,141	*	Lydall, Inc		1,258
	15,361		Mabuchi Motor Co Ltd		667
	35,629		MacDonald Dettwiler & Associates Ltd		1,938
	323,000		Maeda Corp		2,357
	14,900	e	Maeda Kosen Co Ltd		116
	60,000		Maeda Road Construction Co Ltd		1,053
	32,938	e	Magellan Aerospace Corp		390
	118,876	*,e	Maire Tecnimont S.p.A		330
	359,748	e	Makino Milling Machine Co Ltd		2,258
	37,307	*	Makita Corp		1,984
	932,500		Malaysian Resources Corp BHD		250
	13,369		MAN AG.		1,362
	10,596		Manitou BF S.A.		177
	3,729,177	e	Manitowoc Co, Inc		55,938
	9,682		Mannai Corp QSC		270

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	435,500		Marcopolo S.A.	$	176
	1,937,159		Marubeni Corp		9,491
	2,943,893		Masco Corp		74,127
	101,215	*,e	Masonite International Corp		6,132
	172,528	*	Mastec, Inc		2,731
	32,000		Max Co Ltd		301
	1,415,984		Meggitt plc		10,215
	176,000	e	Meidensha Corp		524
	917,757		Melrose Industries plc		3,671
	13,900	*,e	METAWATER Co Ltd		351
	28,432		Metka S.A.		235
	28,135	e	Metso Oyj		585
	94,682	*,e	Meyer Burger Technology AG.		608
	71,003		Micron Machinery Co Ltd		2,192
	181,215	*	Middleby Corp		19,062
	34,461	*	Milacron Holdings Corp		605
	28,663		Miller Industries, Inc		560
	376,000		Mills Estruturas e Servicos de		427
	409,000	e	Minebea Co Ltd		4,342
	575,800		Miraito Holdings Corp		5,222
	294,100		MISUMI Group, Inc		3,035
	1,948,094		Mitsubishi Corp		31,932
	2,289,757		Mitsubishi Electric Corp		20,975
	4,002,952		Mitsubishi Heavy Industries Ltd		17,902
	29,300	e	Mitsubishi Nichiyu Forklift Co Ltd		115
	127,700		Mitsuboshi Belting Co Ltd		972
	1,998,264		Mitsui & Co Ltd		22,459
	923,900		Mitsui Engineering & Shipbuilding Co Ltd		1,333
	80,300		Miura Co Ltd		931
	3,438,230		MMC Corp BHD		1,663
	380,584	e	Monadelphous Group Ltd		1,652
	144,200	e	MonotaRO Co Ltd		3,303
	160,699	*	Moog, Inc (Class A)		8,689
	347,422		Morgan Crucible Co plc		1,483
	125,000		Mori Seiki Co Ltd		1,591
	31,300		Morita Holdings Corp		289
	77,018	e	Mota Engil SGPS S.A.		164
	87,186		Mota-Engil Africa NV		347
	269,367	*	MRC Global, Inc		3,003
	104,235	e	MSC Industrial Direct Co (Class A)		6,361
	63,863		MTU Aero Engines Holding AG.		5,347
	192,023		Mueller Industries, Inc		5,680
	761,405		Mueller Water Products, Inc (Class A)		5,832
	943,400		Muhibbah Engineering M BHD		436
	1,116,126	e	Murray & Roberts Holdings Ltd		942
	105,358	*	MYR Group, Inc		2,760
	27,627		Nabtesco Corp		505
	155,332	e	Nachi-Fujikoshi Corp		644
	2,413,613		Nagarjuna Construction Co		2,760
	251,900		Nagase & Co Ltd		2,933
	47,000		Nak Sealing Technologies Corp		107
	73,900	e	Namura Shipbuilding Co Ltd		540

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	366,961		National Central Cooling Co PJSC	$	119
	12,278	e	National Presto Industries, Inc		1,035
	134,176	*,e	Navistar International Corp		1,707
	307,627		NCC AB (B Shares)		9,296
	75,983	*	NCI Building Systems, Inc		803
	16,400	e	NEC Capital Solutions Ltd		222
	34,273	*,e	Neff Corp		192
	102,303	e	New Flyer Industries, Inc		1,533
	28,165	*,e	Nexans S.A.		951
	199,054		NGK Insulators Ltd		3,809
	83,494		Nibe Industrier AB (Series B)		2,444
	117,000		Nichias Corp		702
	12,400	e	Nichiden Corp		270
	26,400	e	Nichiha Corp		365
	74,225		Nidec Corp		5,104
	139,000		Nippo Corp		2,369
	35,800		Nippon Densetsu Kogyo Co Ltd		643
	121,000		Nippon Koei Co Ltd		502
	260,000		Nippon Road Co Ltd		1,301
	311,730	e	Nippon Sharyo Ltd		749
	858,000	*,e	Nippon Sheet Glass Co Ltd		727
	232,450	e	Nippon Steel Trading Co Ltd		688
	60,000		Nippon Thompson Co Ltd		249
	856,000		Nishimatsu Construction Co Ltd		3,559
	14,700		Nishio Rent All Co Ltd		289
	407,000		Nisshinbo Industries, Inc		4,590
	55,000		Nissin Electric Co Ltd		339
	44,500		Nitta Corp		1,069
	163,000	*	Nitto Boseki Co Ltd		488
	61,747		Nitto Kogyo Corp		1,081
	10,073		Nitto Kohki Co Ltd		193
	23,610		NKT Holding AS		1,247
	67,612		NN, Inc		1,251
	5,766,371	e	Noble Group Ltd		1,687
	47,394		Nolato AB (B Shares)		1,192
	66,276	*	Nordex AG.		1,811
	144,707		Nordson Corp		9,108
	239,919		Noritake Co Ltd		507
	28,600		Noritz Corp		430
	32,639		NORMA Group		1,605
	24,680	*	Nortek, Inc		1,562
	1,035,937		Northrop Grumman Corp		171,914
	27,144	*	Northwest Pipe Co		355
	53,096	*,e	NOW, Inc		786
	438,454		NSK Ltd		4,250
	998,000		NTN Corp		4,118
	12,261	*,e	NV5 Holdings, Inc		228
	2,882,567		NWS Holdings Ltd		3,800
	12,300		Obara Corp		483
	1,135,754		Obayashi Corp		9,690
	43,822	e	Obrascon Huarte Lain S.A.		578
	201,090		OC Oerlikon Corp AG.		1,975

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	5,616	e	OHB AG.	$	111
	133,600	e	Oiles Corp		1,984
	37,100		Okabe Co Ltd		313
	152,641	e	Okuma Holdings, Inc		954
	293,000		Okumura Corp		1,563
	8,639	e	Omega Flex, Inc		289
	60,996	*	Orascom Construction Ltd		671
	252,961		Orbital ATK, Inc		18,180
	95,000	e	Organo Corp		347
	105,804	*	Orion Marine Group, Inc		633
	75,600		OSG Corp		1,431
	41,451	e	Oshkosh Truck Corp		1,506
	123,100		OSJB Holdings Corp		227
	85,321		Osram Licht AG.		4,420
	7,617		Otokar Otobus Karoseri Sanayi AS		198
	157,534	e	Outotec Oyj		583
	2,764,590		Owens Corning, Inc		115,864
	881,534		Paccar, Inc		45,990
	19,989	e	Palfinger AG.		538
	462,960	e	Parker Hannifin Corp		45,046
	88,967	*	Patrick Industries, Inc		3,513
	520,181		Peab AB (Series B)		3,618
	43,361		Pentair plc		2,213
	567,200		Penta-Ocean Construction Co Ltd		2,662
	4,855		PER Aarsleff A.S.		1,666
	96,583	*	Perini Corp		1,590
	29,749		Pfeiffer Vacuum Technology AG.		3,437
	172,074	*	Pgt, Inc		2,113
	13,381		Pinguely-Haulotte		188
	20,705	e	Pkc Group Oyj		376
	3,582		Plasson		102
	448,063	*,e	Plug Power, Inc		820
	72,308	*	Ply Gem Holdings, Inc		846
	338,600		Polyplex PCL		73
	26,738		Porr AG.		687
	24,191		Powell Industries, Inc		728
	13,200	*,e	Power Solutions International, Inc		300
	75,483	*	PowerSecure International, Inc		870
	92,876		Precision Castparts Corp		21,335
	10,577		Preformed Line Products Co		393
	100,802	e	Primoris Services Corp		1,805
	603,054	*	Promotora y Operadora de Infraestructura SAB de C.V.		6,635
	95,374	*,e	Proto Labs, Inc		6,390
	39,809		Prysmian S.p.A.		823
	8,978,200		PT Adhi Karya Persero Tbk		1,384
	7,236,600		PT Arwana Citramulia Tbk		221
	1,200,000		PT Asahimas Flat Glass Tbk		477
	2,803,600	*,m	PT Inovisi Infracom Tbk		22
	2,156,200		PT Pembangunan Perumahan Tbk		512
	4,023,000	*	PT Sitara Propertindo Tbk		130
	10,738,700		PT Surya Semesta Internusa Tbk		496
	4,063,100		PT Total Bangun Persada Tbk		163

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	4,027,361		PT United Tractors Tbk	$	4,821
	4,581,769		PT Waskita Karya Persero Tbk		486
	2,151,300		PT Wijaya Karya		381
	1,663,026		QinetiQ plc		5,682
	115,370		Quanex Building Products Corp		2,096
	110,969	*	Quanta Services, Inc		2,687
	2,813		R Stahl AG.		104
	72,000		Raito Kogyo Co Ltd		682
	171,993		Ramirent Oyj		1,319
	137,100		Randon Participacoes S.A.		101
	4,846		Rational AG.		1,939
	215,687		Raubex Group Ltd		272
	97,049	e	Raven Industries, Inc		1,645
	1,068,434		Raytheon Co		116,737
	59,221		RBC Bearings, Inc		3,537
	1,074,917		Rechi Precision Co Ltd		749
	96,884		Regal-Beloit Corp		5,469
	574,664		Reunert Ltd		2,529
	401,597		Rexel S.A.		4,944
	398,495	*	Rexnord Corp		6,766
	40,171		Rheinmetall AG.		2,470
	480,583		Rich Development Co Ltd		141
	3,158	e	Rieter Holding AG.		468
	272,039		Rockwell Automation, Inc		27,604
	552,094		Rockwell Collins, Inc		45,183
	6,888	e	Rockwool International AS (B Shares)		982
	1,289,358		Rolls-Royce Group plc		13,226
	440,327		Roper Industries, Inc		68,999
	857,552		Rotork plc		2,142
	168,000		Ruentex Engineering & Construction Co		183
	92,610	*	Rush Enterprises, Inc (Class A)		2,241
	224,710		Russel Metals, Inc		3,639
	1,173,000		Ryobi Ltd		4,388
	18,667		S&T Dynamics Co Ltd		218
	63,473		Saab AB (Class B)		1,700
	330,435	e	Sacyr Vallehermoso S.A.		733
	115,374		Sadbhav Engineering Ltd		523
	829,621		Safran S.A.		62,381
	71,477		Saft Groupe S.A.		2,335
	563,151		Salfacorp S.A.		296
	8,720		Sam Yung Trading Co Ltd		150
	22,057	*	Samho International Co Ltd		369
	72,430		Sammok S-Form Co Ltd		1,304
	29,364	*	Samsung Engineering Co Ltd		759
	168,473		Samsung Heavy Industries Co Ltd		1,757
	36,436		Samsung Techwin Co Ltd		955
	125,623		San Shing Fastech Corp		233
	685,778		Sandvik AB		5,842
	119,500	e	Sanki Engineering Co Ltd		903
	50,000		Sanko Gosei Ltd		152
	26,500		Sankyo Tateyama, Inc		411
	353,000		Sanwa Shutter Corp		2,430

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	850,000	*,e	Sany Heavy Equipment International	$	180
	164,000		Sanyo Denki Co Ltd		981
	20,195		Schindler Holding AG.		2,901
	15,870		Schindler Holding AG. (Registered)		2,328
	40,029	*	Schneider Electric Infrastructure Ltd		102
	1,396,863		Schneider Electric S.A.		78,223
	2,349		Schweiter Technologies AG.		1,895
	223,532		Seibu Holdings, Inc		4,530
	130,400		Sekisui Jushi Corp		1,702
	813,883		SembCorp Industries Ltd		1,986
	787,943	e	SembCorp Marine Ltd		1,272
	11,988	e	Semperit AG. Holding		363
	457,410		Senior plc		1,742
	5,424	*	Sensata Technologies Holding BV		241
	16,646		SFS Group AG.		1,005
	206,967	*,e	SGL Carbon AG.		3,298
	230,508	*	SGSB Group Co Ltd		204
	100,200	*	Shanghai Automation Instrumentation Co Ltd		110
	312,380		Shanghai Diesel Engine Co Ltd		215
	3,281,304	e	Shanghai Electric Group Co Ltd		1,795
	215,100	m	Shanghai Erfangji Co Ltd		183
	856,600		Shanghai Highly Group Co Ltd		526
	1,587,695	e	Shanghai Industrial Holdings Ltd		3,522
	682,000		Shanghai Prime Machinery Co Ltd		112
	49,300	e	Shibuya Kogyo Co Ltd		744
	478,221		Shikun & Binui Ltd		870
	79,600	e	Shima Seiki Manufacturing Ltd		1,096
	334,451		Shimizu Corp		2,872
	872,000		Shin Zu Shing Co Ltd		2,638
	262,590		Shinmaywa Industries Ltd		2,652
	19,400		SHO-BOND Holdings Co Ltd		741
	9,100		Showa Aircraft Industry Co Ltd		84
	1,240,727		Siemens AG.		110,843
	138,932		Siemens India Ltd		2,814
	553,960		SIG plc		1,456
	3,696,511		Sime Darby BHD		6,547
	110,834		Simpson Manufacturing Co, Inc		3,712
	3,962,000		Singamas Container Holdings Ltd		514
	1,343,087		Singapore Technologies Engineering Ltd		2,818
	649,457		Sino Thai Engineering & Construction PCL		434
	3,966,787		Sinopec Engineering Group Co Ltd		3,465
	1,994,500	e	Sinotruk Hong Kong Ltd		717
	883,519		Sintex Industries Ltd		1,423
	142,000		Sintokogio Ltd		1,114
	46,510		SK C&C Co Ltd		9,600
	140,732		SK Networks Co Ltd		820
	825,124		Skanska AB (B Shares)		16,199
	102,638		SKF AB (B Shares)		1,886
	19,956		SKF India Ltd		382
	11,268	*	SLM Solutions Group AG.		185
	224,561		SM Investments Corp		4,281
	29,992		SMC Corp		6,567

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	112,332		Smiths Group plc	$	1,712
	397,183		Snap-On, Inc		59,951
	362,197	e	SNC-Lavalin Group, Inc		10,308
	284,016	*	SOCAM Development Ltd		176
	41,700	e	Sodick Co Ltd		261
	3,475,000		Sojitz Holdings Corp		6,474
	5,407	e	Solar Holdings AS (B Shares)		326
	118,501	*,e	SolarCity Corp		5,061
	27,393	*	Sparton Corp		586
	521,836		Speedy Hire plc		268
	169,800		Spirax-Sarco Engineering plc		7,207
	821,963	*	Spirit Aerosystems Holdings, Inc (Class A)		39,734
	527,702		SPX Corp		6,290
	572,632	*	SPX FLOW, Inc		19,716
	114,400	*	Sriracha Construction PCL		77
	63,464		Standex International Corp		4,782
	404,586		Stanley Works		39,237
	33,700	e	Star Micronics Co Ltd		460
	117,845		Sterlite Technologies Ltd		159
	42,152	*,e	Stock Building Supply Holdings, Inc		742
	384,120		STP & I PCL		159
	564,000	*,e	STX OSV Holdings Ltd		175
	6,358		Sulzer AG.		623
	1,542,668	*,e	Sumitomo Corp		14,918
	15,600		Sumitomo Densetsu Co Ltd		189
	6,661,537		Sumitomo Heavy Industries Ltd		26,397
	799,800	e	Sumitomo Mitsui Construction C		967
	18,538,302	*,e	Summit Ascent Holdings Ltd		9,685
	60,258		Sun Hydraulics Corp		1,655
	16,459		Sung Kwang Bend Co Ltd		142
	385,553	*,e	Sunrun, Inc		3,998
	93,000		Sunspring Metal Corp		115
	5,294,755	*	Sunway Construction Group BHD		1,409
	3,628,923	*	Suzlon Energy Ltd		1,159
	354,000		Syncmold Enterprise Corp		501
	210,000		Tadano Ltd		2,331
	8,557	*	Taewoong Co Ltd		108
	39,993	*	Taeyoung Engineering & Construction		218
	98,102	*,m	Taihan Electric Wire Co Ltd		0	^
	127,000	e	Taihei Dengyo Kaisha Ltd		1,307
	26,300		Taikisha Ltd		595
	1,114,121		Taisei Corp		7,263
	527,316		Taiwan Glass Industrial Corp		193
	82,929	e	Takara Standard Co Ltd		589
	52,300		Takasago Thermal Engineering Co Ltd		724
	10,900		Takeuchi Manufacturing Co Ltd		191
	66,000		Takuma Co Ltd		498
	85,902	e	TAL International Group, Inc		1,174
	18,619	e	Tarkett S.A.		435
	156,114	*,e	Taser International, Inc		3,438
	271,000	e	Tat Hong Holdings Ltd		92
	34,400		Tatsuta Electric Wire and Cable Co Ltd		125

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	359,800	*	Tebrau Teguh BHD	$	66
	5,198,400	*,e	Tech Pro Technology Development Ltd		1,216
	4,788,443		Teco Electric and Machinery Co Ltd		3,776
	17,600	e	Teikoku Sen-I Co Ltd		205
	109,234		Tekfen Holding AS		151
	111,000	e	Tekken Corp		282
	110,020	*	Teledyne Technologies, Inc		9,935
	86,003		Tennant Co		4,832
	3,668,222		Terex Corp		65,808
	44,229		Texmaco Rail & Engineering Ltd		78
	57,551	e	Textainer Group Holdings Ltd		949
	2,484,823		Textron, Inc		93,529
	375,361		Thales S.A.		26,172
	21,992	*,e	The ExOne Company		148
	44,023		Thermax Ltd		571
	119,175	*	Thermon Group Holdings		2,449
	202,992	e	THK Co Ltd		3,233
	321,661		Timken Co		8,842
	13,811		Timken India Ltd		127
	118,327	e	Titan International, Inc		782
	48,001	*,e	Titan Machinery, Inc		551
	12,325	*	TK Corp		110
	125,923		TKH Group NV		4,568
	156,000		Toa Corp/Tokyo		375
	12,900		Tocalo Co Ltd		234
	393,000		Toda Corp		1,741
	72,000		Toenec Corp		526
	276,700	e	Tokai Corp		1,154
	175,460	e	Tokyu Construction Co Ltd		1,453
	709,703		Tong-Tai Machine & Tool Co Ltd		522
	44,730		Toro Co		3,155
	170,904		Toromont Industries Ltd		4,158
	3,486,858	*	Toshiba Corp		8,784
	313,964		Toshiba Machine Co Ltd		985
	38,600		Toshiba Plant Systems & Services Corp		378
	24,900		Totetsu Kogyo Co Ltd		533
	69,339		Toto Ltd		2,161
	198,600	e	Toyo Construction Co Ltd		871
	115,000	e	Toyo Engineering Corp		278
	12,200	e	Toyo Tanso Co Ltd		153
	248,853		Toyota Tsusho Corp		5,245
	296,515		Trakya Cam Sanayi AS		184
	255,095	*	TransDigm Group, Inc		54,185
	1,071,493		Travis Perkins plc		31,966
	248,751		Trelleborg AB (B Shares)		3,941
	76,639	e	Trevi Finanziaria S.p.A.		97
	82,192	*	Trex Co, Inc		2,739
	172,317	*	Trimas Corp		2,817
	405,267		Trinity Industries, Inc		9,187
	679,252		Triumph Group, Inc		28,583
	17,500		Trusco Nakayama Corp		619
	313,000		Tsubakimoto Chain Co		1,962

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	136,000	e	Tsugami Corp	$	504
	25,800	e	Tsukishima Kikai Co Ltd		215
	14,700		Tsurumi Manufacturing Co Ltd		236
	127,000		TTCL PCL		80
	748,158		Turk Sise ve Cam Fabrikalari AS		710
	30,887	e	Twin Disc, Inc		383
	906,900		UEM Edgenta BHD		734
	69,026	e	Ultra Electronics Holdings		1,790
	9,900		Union Tool Co		239
	482,200		Unique Engineering & Construction PCL		266
	1,082,200		United Engineers Ltd		1,465
	778,000		United Integrated Services Co Ltd		842
	176,506	*	United Rentals, Inc		10,599
	709,329		United Technologies Corp		63,123
	2,605,558	*	Univar, Inc		47,291
	101,852		Universal Forest Products, Inc		5,875
	54,160		Uponor Oyj		704
	3,883,598	*,e	USG Corp		103,381
	1,065,200		Ushio, Inc		12,797
	124,690	e	Vallourec		1,108
	313,571		Valmet Corp		3,039
	51,536	e	Valmont Industries, Inc		4,890
	93,862	*	Vectrus, Inc		2,069
	32,324	*,e	Veritiv Corp		1,204
	532,646		Vestas Wind Systems AS		27,692
	558,600		Vesuvius plc		2,987
	50,995	*	Vicor Corp		520
	1,379,198		Vinci S.A.		87,701
	259,940		Voltas Ltd		1,068
	39,900		Voltronic Power Technology Corp		519
	5,664,653		Volvo AB (B Shares)		54,263
	8,897	e	Vossloh AG.		662
	54,497	e	W.W. Grainger, Inc		11,717
	184,885	*	Wabash National Corp		1,958
	358,013	*	WABCO Holdings, Inc		37,531
	76,165		Wacker Construction Equipment AG.		1,105
	17,983	e	Wajax Income Fund		298
	85,900		Wakita & Co Ltd		777
	3,057,300	*	Walsin Lihwa Corp		652
	2,601		Walter Meier AG.		94
	47,272		Wartsila Oyj (B Shares)		1,876
	61,472		Watsco, Inc		7,283
	127,810		Watts Water Technologies, Inc (Class A)		6,751
	916,212		WCT Berhad		286
	584,344		Weg S.A.		2,277
	1,241,868		Weichai Power Co Ltd		1,162
	980,657		Weir Group plc		17,398
	204,226	*,e	WESCO International, Inc		9,490
	433,197		Westinghouse Air Brake Technologies Corp		38,143
	55,188	*,e	Westport Innovations, Inc		137
	4,555,547		Wienerberger AG.		80,272
	48,481		Wilson Bayly Holmes-Ovcon Ltd		388

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	310,638		Wolseley plc	$	18,170
	167,134		Woodward Governor Co		6,802
	78,128	e	WSP Global, Inc		2,637
	27,708	*	Xerium Technologies, Inc		360
	98,112		Xxentria Technology Materials Corp		255
	1,435,619		Xylem, Inc		47,160
	10,395		Y G-1 Co Ltd		104
	84,600		Yahagi Construction Co Ltd		759
	100,800		YAMABIKO Corp		823
	154,500		Yamazen Corp		1,277
	9,598,349		Yangzijiang Shipbuilding		7,675
	139,906		Yazicilar Holding AS		750
	416,700		Yinson Holdings BHD		273
	105,030	e	YIT Oyj		575
	28,700	e	Yokogawa Bridge Holdings Corp		242
	2,056,000		Yuanda China Holdings Ltd		97
	52,100		Yuasa Trading Co Ltd		1,072
	872,000		Yungtay Engineering Co Ltd		1,385
	136,000		Yurtec Corp		1,230
	8,200		Yushin Precision Equipment Co Ltd		140
	83,092	e	Zardoya Otis S.A.		898
	24,631		Zehnder Group AG.		810
	187,400		Zhengzhou Coal Mining Machinery Group Co Ltd		80
	2,737,395		Zhuzhou CSR Times Electric Co Ltd		20,369
	58,637		Zodiac S.A.		1,346
	76,021		Zumtobel AG.		1,672
			TOTAL CAPITAL GOODS		7,808,201
COMMERCIAL & PROFESSIONAL SERVICES - 1.2%
	597,719	*	AA plc		2,565
	174,288		ABM Industries, Inc		4,760
	293,095	e	Acacia Research (Acacia Technologies)		2,661
	287,183	*	ACCO Brands Corp		2,030
	166,643		Adcorp Holdings Ltd		338
	705,929		Adecco S.A.		51,699
	118,900		Administaff, Inc		5,223
	751,045	e	ADT Corp		22,456
	109,008	*	Advisory Board Co		4,964
	28,100		Aeon Delight Co Ltd		812
	132,647		AF AB		1,838
	65,924		Aggreko plc		950
	18,921		Akka Technologies S.A.		489
	421,492		ALS Ltd		1,371
	12,137		Amadeus Fire AG		1,078
	57,625		American Banknote S.A.		665
	57,503		American Ecology Corp		2,510
	101,312		Applus Services S.A.		963
	110,043	*	ARC Document Solutions, Inc		655
	18,363		Assystem		376
	10,400	e	Asukanet Co Ltd		235
	247,504		Atkins WS plc		5,213
	235,029		Babcock International Group		3,251

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	18,590		Barrett Business Services, Inc	$	798
	438,000	*	Beijing Development HK Ltd		100
	16,900	e	Benefit One, Inc		286
	16,162		Bertrandt AG.		1,688
	35,522	e	Bilfinger Berger AG.		1,317
	139,490		Black Diamond Group Ltd		870
	798,117		Blue Label Telecoms Ltd		569
	126,480	e	Brady Corp (Class A)		2,487
	2,295,668		Brambles Ltd		15,770
	127,930		Brink’s Co		3,455
	952,000		Broad Greenstate International Co Ltd		210
	58,807	e	Brunel International NV		1,000
	362,344		Bureau Veritas S.A.		7,649
	411,062	e	Cabcharge Australia Ltd		867
	176,103		Cape plc		627
	619,429		Capita Group plc		11,250
	4,372,000	*,e	Capital Environment Holdings Ltd		215
	109,329	*	Casella Waste Systems, Inc (Class A)		634
	216,560		Caverion Corp		2,165
	155,786	*,e	CBIZ, Inc		1,530
	62,537		CDI Corp		535
	156,995		CEB, Inc		10,729
	109,408	e	Ceco Environmental Corp		896
	14,598		Cewe Color Holding AG.		812
	3,901,259		China Everbright International Ltd		5,481
	332,227		Cintas Corp		28,488
	429,939	*,e	Clean Harbors, Inc		18,904
	62,000		Cleanaway Co Ltd		277
	299,349	e	CNH Industrial NV (NYSE)		1,952
	31,200		Contax Participacoes S.A.		18
	434,043	*	Copart, Inc		14,280
	267,935		Covanta Holding Corp		4,675
	45,403	*	CRA International, Inc		980
	108,039		Credit Corp Group Ltd		776
	398,611		Dai Nippon Printing Co Ltd		3,852
	34,700		Daiseki Co Ltd		592
	377,857		Davis Service Group plc		5,746
	99,755		De La Rue plc		728
	143,709		Deluxe Corp		8,010
	77,114		Derichebourg		222
	447,393		Downer EDI Ltd		1,058
	116,380		Dun & Bradstreet Corp		12,220
	107,198		Duskin Co Ltd		1,941
	337,000	*	Dynagreen Environmental Protection Group Co Ltd		175
	278,755		Eastern Media International Corp		55
	1,593,897		Edenred		26,099
	601,004	g	Elior Participations S.C.A		11,511
	65,434		Elis S.A.		1,022
	10,400		en-japan, Inc		278
	67,218		Ennis, Inc		1,167
	491,201		Equifax, Inc		47,735
	100,259		Essendant, Inc		3,251

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,293,996		Experian Group Ltd	$	20,773
	84,478		Exponent, Inc		3,764
	375,000	*	Flow Traders BV		14,611
	45,429	*	Franklin Covey Co		730
	133,686	*	FTI Consulting, Inc		5,549
	15,463,000	*,m	Fung Choi Media Group Ltd		109
	61,224		G & K Services, Inc (Class A)		4,079
	25,019		Gategroup Holding AG.		843
	19,523		GL Events		378
	59,383	*	GP Strategies Corp		1,355
	9,655,115		Group 4 Securicor plc		33,753
	3,014		Groupe CRIT		156
	34,147		Gunnebo AB		152
	8,993,110		Hays plc		20,904
	187,324	e	Healthcare Services Group		6,313
	47,047		Heidrick & Struggles International, Inc		915
	27,680	*	Heritage-Crystal Clean, Inc		284
	187,390		Herman Miller, Inc		5,404
	128,085	*	Hill International, Inc		420
	189,965		HNI Corp		8,150
	393,029		HomeServe plc		2,413
	193,158	e	Horizon North Logistics, Inc		344
	72,308	*	Huron Consulting Group, Inc		4,521
	67,487	*	ICF International, Inc		2,051
	592,156	*	ICO Global Communications Holdings Ltd		426
	137,603	*	IHS, Inc (Class A)		15,962
	92,560	*,e	Innerworkings, Inc		579
	292,454		Interface, Inc		6,563
	122,854		Intertek Group plc		4,534
	275,421		Intrum Justitia AB		9,527
	3,040,000	*,e	iOne Holdings Ltd		114
	81,874		IPH Ltd		398
	136,090		ISS A.S.		4,520
	47,900		Itoki Corp		305
	9,867		Kaba Holding AG.		6,060
	86,584		KAR Auction Services, Inc		3,074
	24,000		KD Holding Corp		115
	72,262		Kelly Services, Inc (Class A)		1,022
	72,468		KEPCO Plant Service & Engineering Co Ltd		7,398
	112,951		Kforce, Inc		2,968
	151,553		Kimball International, Inc (Class B)		1,434
	122,276		Knoll, Inc		2,688
	247,300		Kokuyo Co Ltd		2,626
	193,270		Korn/Ferry International		6,391
	135,000		Kyodo Printing Co Ltd		373
	124,757		Loomis AB		3,270
	396,477		Manpower, Inc		32,468
	13,962		Matsuda Sangyo Co Ltd		150
	93,482		Matthews International Corp (Class A)		4,578
	80,564		McGrath RentCorp		2,150
	187,209		McMillan Shakespeare Ltd		1,625
	28,800		Meitec Corp		1,005

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	488,955		Michael Page International plc	$	3,511
	159,542	e	Mineral Resources Ltd		466
	45,233	*	Mistras Group, Inc		581
	360,495		Mitie Group		1,665
	17,872		Mitsubishi Pencil Co Ltd		846
	142,542		Mobile Mini, Inc		4,389
	351,853	e	Moleskine S.p.A		610
	43,556	e	Morneau Sobeco Income Fund		501
	42,800		Moshi Moshi Hotline, Inc		442
	142,874		MSA Safety, Inc		5,711
	31,796		Multi-Color Corp		2,432
	198,988	*	Navigant Consulting, Inc		3,166
	658,499		Nielsen NV		29,283
	33,100	e	Nihon M&A Center, Inc		1,446
	11,800	e	Nippon Kanzai Co Ltd		178
	232,100	e	Nippon Parking Development Co Ltd		247
	119,660	e	Nissha Printing Co Ltd		2,288
	20,745		NL Industries, Inc		62
	34,600		Nomura Co Ltd		491
	65,700		Okamura Corp		593
	136,114	*	On Assignment, Inc		5,023
	17,668		Oyo Corp		206
	143,500		Park24 Co Ltd		2,693
	32,000		Pilot Corp		1,324
	467,228		Pitney Bowes, Inc		9,274
	143,860	e	Progressive Waste Solutions Ltd		3,804
	292,939		Prosegur Cia de Seguridad S.A.		1,411
	176,422		Quad		2,135
	1,028,304	e	R.R. Donnelley & Sons Co		14,972
	244,392		Randstad Holdings NV		14,608
	382,000	*	Realord Group Holdings Ltd		144
	320,059		Recall Holdings Ltd		1,652
	209,459		Recruit Holdings Co Ltd		6,280
	854,077		Regus plc		3,974
	4,422,570		Rentokil Initial plc		9,879
	501,539		Republic Services, Inc		20,663
	129,707		Resources Connection, Inc		1,955
	288,019	e	Ritchie Bros Auctioneers, Inc		7,446
	565,236		Robert Half International, Inc		28,917
	416,343		Rollins, Inc		11,187
	294,282		RPS Group plc		1,002
	338,045	*	RPX Corp		4,638
	22,994		S1 Corp (Korea)		1,810
	654,665		SAI Global Ltd (New)		2,096
	23,552	e	Sato Corp		439
	3,289		Seche Environnement S.A.		118
	166,854		Secom Co Ltd		10,035
	574,329		Securitas AB (B Shares)		7,024
	646,644	e	Seek Ltd		5,480
	1,116,540	e	Serco Group plc		1,725
	252,414	e	SG Fleet Group Ltd		526
	5,148		SGS S.A.		8,996

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	214,100		Shanghai Youngsun Investment C	$	415
	555,654		Shanks Group plc		771
	171,625		Shenzhen Dongjiang Environmental Co Ltd		267
	69,345		Societe BIC S.A.		10,775
	66,700	e	Sohgo Security Services Co Ltd		3,046
	58,803	*	SP Plus Corp		1,361
	57,192		Sporton International, Inc		333
	1,959,826		Spotless Group Holdings Ltd		2,970
	211,402	e	Stantec, Inc		4,622
	210,631		Steelcase, Inc (Class A)		3,878
	504,807	*	Stericycle, Inc		70,325
	17,071		Synergie S.A		446
	560,520		Taiwan Secom Co Ltd		1,578
	405,670		Taiwan-Sogo Shinkong Security Corp		481
	53,008	*	Team, Inc		1,703
	33,200		TechnoPro Holdings, Inc		880
	231,184		Teleperformance		17,542
	64,100		Temp Holdings Co Ltd		2,929
	178,159		Tetra Tech, Inc		4,331
	310,000		Tianjin Capital Environmental Protection Group Co Ltd		184
	142,400		Toppan Forms Co Ltd		1,692
	438,669		Toppan Printing Co Ltd		3,534
	175,103		Towers Watson & Co		20,554
	331,183		Tox Free Solutions Ltd		601
	222,963		Transcontinental, Inc		3,174
	444,383	*	Transfield Services Ltd		332
	4,836,278	e	Transpacific Industries Group Ltd		2,323
	11,610	*	TransUnion		292
	40,139	*,e	TRC Cos, Inc		475
	168,973	*	TriNet Group, Inc		2,839
	205,515	*	TrueBlue, Inc		4,618
	1,786,908	e	Tyco International plc		59,790
	50,023		Unifirst Corp		5,343
	66,700		USG People NV		913
	831,022		Veda Group Ltd		1,566
	927,951	*	Verisk Analytics, Inc		68,585
	53,455		Viad Corp		1,550
	10,754	*	Volt Information Sciences, Inc		98
	9,864		VSE Corp		395
	128,388	*	WageWorks, Inc		5,788
	79,153		Waste Connections, Inc		3,845
	1,201,344		Waste Management, Inc		59,839
	182,224		West Corp		4,082
	273,451		Yem Chio Co Ltd		103
	735,000	e	Yestar International Holdings Co Ltd		292
	38,600	e	Yumeshin Holdings Co Ltd		229
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,277,381
CONSUMER DURABLES & APPAREL - 2.6%
	823,000		361 Degrees International Ltd		258
	1,130,000		Ability Enterprise Co Ltd		557
	47,260	*	Accell Group NV		1,010

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,539,302		Adidas-Salomon AG.	$	124,110
	20,075	*	Agabang&Company		206
	293,677		Aksa Akrilik Kimya Sanayii		947
	223,200		Alpine Electronics, Inc		2,446
	204,358		Altek Corp		182
	333,710		Amer Sports Oyj (A Shares)		8,488
	821,157		AmTRAN Technology Co Ltd		389
	3,309,586	e	Anta Sports Products Ltd		8,591
	733,290		Arcelik AS		3,575
	32,225	e	Arctic Cat, Inc		715
	43,000	*	Arezzo Industria e Comercio S.A.		216
	1,521,830		Arvind Ltd		6,495
	31,938		Asics Corp		761
	29,973		Bajaj Electricals Ltd		114
	39,995	*,e	Bang & Olufsen AS (B Shares)		278
	2,423,463		Barratt Developments plc		23,672
	6,853		Basic House Co Ltd		63
	27,434		Bassett Furniture Industries, Inc		764
	16,228		Bata India Ltd		267
	77,792	*,e	Beazer Homes USA, Inc		1,037
	11,643,711		Belle International Holdings Ltd		10,126
	338,723		Bellway plc		12,763
	307,879		Berkeley Group Holdings plc		15,585
	286,000		Best Pacific International Holdings Ltd		118
	3,668		Bijou Brigitte AG.		202
	647,049	*,e	Billabong International Ltd		296
	59,251	*	Black Diamond, Inc		372
	342,089		Bombay Dyeing & Manufacturing Co Ltd		331
	2,658,000	e	Bosideng International Holdings Ltd		238
	270,419		Bovis Homes Group plc		4,127
	102,247	*	BRP, Inc		1,940
	29,655	e	Brunello Cucinelli S.p.A		538
	148,463		Brunswick Corp		7,110
	607,257		Burberry Group plc		12,588
	208,121		Callaway Golf Co		1,738
	315,050		Carter’s, Inc		28,556
	227,815	e	Casio Computer Co Ltd		4,147
	26,260	*	Cavco Industries, Inc		1,788
	16,253		CCC S.A.		702
	2,340,000		Cecep Costin New Materials Grp Ltd		401
	35,837	*,e	Century Communities, Inc		711
	33,713	*	Cherokee, Inc		523
	820,000		China Creative Home Group Ltd		98
	2,979,400	e	China Dongxiang Group Co		720
	2,085,000	*	China Household Holdings Ltd		84
	3,590,000	*,e,g	China Jicheng Holdings Ltd		946
	1,050,000	e	China Lilang Ltd		899
	19,100		Chofu Seisakusho Co Ltd		373
	1,462	*	Chokwang Leather Co Ltd		68
	118,614		Christian Dior S.A.		22,223
	747,575		Cie Financiere Richemont S.A.		58,169
	1,338,000	e	Citychamp Watch & Jewellery Group Ltd		205

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	115,000	e	Clarion Co Ltd	$	364
	19,200		Cleanup Corp		141
	1,825,351		Coach, Inc		52,807
	72,746		Columbia Sportswear Co		4,277
	745,600	*,e	Consorcio ARA, S.A. de C.V.		269
	14,900	e	Corona Corp		135
	654,100	*,e,m	Corp GEO S.A. de C.V. (Series B)		0	^
	468,000	e,g	Cosmo Lady China Holdings Co Ltd		497
	268,181		Crest Nicholson Holdings plc		2,321
	200,225	*	CROCS, Inc		2,588
	24,064		CSS Industries, Inc		634
	4,006	*	Cuchen Co Ltd		97
	4,333		Cuckoo Electronics Co Ltd		996
	23,249		Culp, Inc		746
	1,291,258		Cyrela Brazil Realty S.A.		2,694
	181,862	*	Deckers Outdoor Corp		10,559
	53,615		De’Longhi S.p.A.		1,317
	8,694		Delta-Galil Industries Ltd		261
	42,190		Descente Ltd		598
	456,900		Direcional Engenharia S.A.		417
	31,486		Dorel Industries, Inc (Class B)		742
	1,416,145		DR Horton, Inc		41,578
	77,365		Duni AB		1,137
	987,855		Eclat Textile Co Ltd		15,686
	3,247,756		Electrolux AB (Series B)		91,771
	27,538	e	Escalade, Inc		435
	66,933	e	Ethan Allen Interiors, Inc		1,768
	198,300		Even Construtora e Incorporadora S.A.		172
	54,099		Ez Tec Empreendimentos e Participacoes S.A.		158
	298,640		Feng TAY Enterprise Co Ltd		1,861
	74,600	e	Fields Corp		1,014
	10,401		Fila Korea Ltd		874
	17,893		Flexsteel Industries, Inc		559
	1,466		Forbo Holding AG.		1,648
	573,852		Formosa Taffeta Co Ltd		543
	108,679		Forus S.A.		244
	129,514	*,e	Fossil Group, Inc		7,237
	72,991		Foster Electric Co Ltd		1,461
	21,400		France Bed Holdings Co Ltd		151
	504,800	e	Fuguiniao Co Ltd		766
	126,000		Fujibo Holdings Inc		236
	95,000		Fujitsu General Ltd		1,036
	141,400	*	Funai Electric Co Ltd		1,309
	313,400		Gafisa S.A.		160
	154,831	e	Garmin Ltd		5,555
	72,754	*	Geox S.p.A.		307
	24,907	e	Gerry Weber International AG.		377
	312,379		Giant Manufacturing Co Ltd		2,278
	110,608	*	G-III Apparel Group Ltd		6,820
	264,823		Gildan Activewear, Inc		7,993
	5,740,000	*	Global Brands Group Holding Ltd		1,188
	6,400		Goldwin, Inc		289

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	682,000		Goodbaby International Holding	$	304
	742,683	*,e	GoPro, Inc		23,187
	53,811	*	Green Brick Partners, Inc		583
	342,396		GUD Holdings Ltd		2,083
	1,063,000		Gunze Ltd		3,216
	1,840,983		Haier Electronics Group Co Ltd		3,091
	2,994,000	*,e	Haier Healthwise Holdings Ltd		193
	13,618		Handsome Co Ltd		450
	1,871,133		Hanesbrands, Inc		54,151
	17,799		Hansae Co Ltd		832
	34,819		Hansae Yes24 Holdings Co Ltd		701
	27,489		Hanssem Co Ltd		6,656
	814,443		Harman International Industries, Inc		78,178
	603,266		Hasbro, Inc		43,520
	509,800		Haseko Corp		5,775
	737,348		Hefei Meiling Co Ltd		418
	160,100		Heiwa Corp		2,746
	314,350		Helbor Empreendimentos S.A.		152
	119,321	*	Helen of Troy Ltd		10,655
	31,793		Hermes International		11,573
	381,000	*	Hisense Kelon Electrical Holdings Co Ltd		193
	5,577		Hitachi Home & Life Solutions India Ltd		121
	23,050	*	HLB, Inc		505
	25,879	e	Hooker Furniture Corp		609
	1,508,000	e	Hosa International Ltd		594
	287,461	*,e	Hovnanian Enterprises, Inc (Class A)		509
	196,130		Hugo Boss AG.		22,053
	121,500		Hume Industries BHD		93
	354,388		Husqvarna AB (B Shares)		2,324
	69,382		Huvis Corp		506
	10,196		Hyundai Livart Furniture Co Ltd		437
	18,173		IC Companys AS		517
	126,312	*,e	Iconix Brand Group, Inc		1,708
	482,553		Iida Group Holdings Co Ltd		7,549
	1,296		Ilshin Spinning Co Ltd		200
	49,463	*,e	Installed Building Products Inc		1,250
	79,343	*,e	iRobot Corp		2,312
	52,699	*,e	Jakks Pacific, Inc		449
	7,000	e	Japan Vilene Co Ltd		70
	56,000	e	Japan Wool Textile Co Ltd		471
	2,750,249	*,e	Jarden Corp		134,432
	138,820	*	Jimmy Choo plc		291
	178,499	*	Jinshan Development & Construction Co Ltd		131
	252,087		JM AB		6,780
	425,135		Johnson Health Tech Co Ltd		572
	14,724		Johnson Outdoors, Inc		311
	825,900	*,e	JVC KENWOOD Holdings, Inc		1,853
	1,028,559	*	Kate Spade & Co		19,656
	284,676	e	KB Home		3,857
	1,058,000	*	Kinpo Electronics		339
	13,852		Kitex Garments Ltd		179
	42,244		KMC Kuei Meng International In		165

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,655,600		Konka Group Co Ltd	$	1,013
	172,000		Kurabo Industries Ltd		306
	808		Kyungbang Ltd		142
	536,004		Lao Feng Xiang Co Ltd		2,187
	353,216		La-Z-Boy, Inc		9,381
	943,800		Le Saunda Holdings		244
	627,776		Lealea Enterprise Co Ltd		172
	220,174		Leggett & Platt, Inc		9,082
	16,502		Lennar Corp (B Shares)		653
	239,794		Lennar Corp (Class A)		11,541
	115,434		LG Electronics, Inc		4,459
	62,620		LG Fashion Corp		1,732
	35,753	*,e	LGI Homes, Inc		972
	1,390,020	*,e	Li Ning Co Ltd		606
	555,965	*	Li Peng Enterprise Co Ltd		146
	61,851		Libbey, Inc		2,017
	48,313	e	Lifetime Brands, Inc		675
	1,306		LPP S.A.		2,692
	303,566	*,e	Lululemon Athletica, Inc		15,376
	1,059,250		Luthai Textile Co Ltd		1,309
	270,698		Luxottica Group S.p.A.		18,761
	287,088		LVMH Moet Hennessy Louis Vuitton S.A.		48,875
	64,953	*	M/I Homes, Inc		1,532
	371,262		Makalot Industrial Co Ltd		3,064
	86,644	*	Malibu Boats Inc		1,211
	657,200	e	Man Wah Holdings Ltd		644
	6,442	*,m	Mariella Burani S.p.A.		0
	34,255	e	Marine Products Corp		238
	5,700		Mars Engineering Corp		96
	1,746,783		Matsushita Electric Industrial Co Ltd		17,678
	5,807,123	e	Mattel, Inc		122,298
	424,400		MC Group PCL		156
	14,147	*	MCBC Holdings, Inc		183
	99,962	e	MDC Holdings, Inc		2,617
	238,537		Merida Industry Co Ltd		1,288
	110,353	*,e	Meritage Homes Corp		4,030
	549,360	*	Michael Kors Holdings Ltd		23,205
	38,100		Misawa Homes Co Ltd		231
	40,000	e	Mitsui Home Co Ltd		200
	92,000	e	Mizuno Corp		419
	302,417	*	Mohawk Industries, Inc		54,976
	446,067		Moncler S.p.A		7,988
	82,508		Movado Group, Inc		2,131
	1,287,065		MRV Engenharia e Participacoes S.A.		1,977
	11,485		Nacco Industries, Inc (Class A)		546
	568,235		Namco Bandai Holdings, Inc		13,188
	35,000		Nan Liu Enterprise Co Ltd		184
	209,923	*	Nautilus, Inc		3,149
	20,892	*,e	New Home Co Inc		271
	42,717	e	New Wave Group AB (B Shares)		165
	2,073,031		Newell Rubbermaid, Inc		82,320
	479,129		Nien Hsing Textile Co Ltd		293

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,997,703		Nike, Inc (Class B)	$	368,628
	175,224	e	Nikon Corp		2,119
	118,188	e	Nobia AB		1,443
	42,036	*,e	NVR, Inc		64,114
	972,531		Onward Kashiyama Co Ltd		5,751
	279,153		Oriental Weavers		363
	1,257,759	*,g	OVS S.p.A		8,587
	63,042		Oxford Industries, Inc		4,658
	568,000	*,e,g	Ozner Water International Holding Ltd		105
	2,148,778		Pacific Textile Holdings Ltd		2,925
	9,038		Page Industries Ltd		1,829
	267,000	e	PanaHome Corp		1,736
	133,708		Pandora AS		15,620
	167,284	*	PDG Realty S.A.		3
	402,000	*,m	Peace Mark Holdings Ltd		0
	4,086,000		Peak Sport Products Co Ltd		1,042
	10,122		Pegas Nonwovens S.A.		358
	306,491	*	Performance Sports Group Ltd		4,113
	84,355	*,e	Performance Sports Group Ltd (Canada)		1,130
	50,220	*	Perry Ellis International, Inc		1,103
	496,851		Persimmon plc		15,122
	139,666		Phillips-Van Heusen Corp		14,238
	35,855		PIK Group (GDR)		104
	14,554,200	*,e	Pioneer Corp		31,626
	8,104,857		Playmates Holdings Ltd		8,436
	1,724,000		Playmates Toys Ltd		334
	66,879	e	Polaris Industries, Inc		8,017
	114,138		Pool Corp		8,252
	2,462,935		Pou Chen Corp		3,705
	24,100		Pressance Corp		942
	920,000	e	Prime Success International Group Ltd		209
	31,236,400		PT Sri Rejeki Isman Tbk		820
	1,245,053		Pulte Homes, Inc		23,494
	227,000		Q Technology Group Co Ltd		40
	275,101		Rajesh Exports Ltd		2,362
	117,135		Ralph Lauren Corp		13,841
	74,014		Raymond Ltd		483
	600,608		Redrow plc		4,155
	64,700		Restoque Comercio e Confeccoes de Roupas S.A.		53
	28,697		Rinnai Corp		2,189
	1,543,562		Ruentex Industries Ltd		2,743
	122,763	e	Ryland Group, Inc		5,012
	30,576	*,e	Safilo Group S.p.A.		358
	55,838	e	Salvatore Ferragamo Italia S.p.A		1,489
	51,114		Samick Musical Instruments Co Ltd		183
	906,000		Sampo Corp		354
	989,000		Samson Holding Ltd		126
	56,900		Sangetsu Co Ltd		910
	62,621		Sankyo Co Ltd		2,228
	122,400		Sanyo Electric Taiwan Co Ltd		91
	428,000		Sanyo Shokai Ltd		1,292
	22,270		SEB S.A.		2,054

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	286,994	e	Sega Sammy Holdings, Inc	$	2,801
	384,000	e	Seiko Holdings Corp		2,233
	1,087,030		Seiren Co Ltd		12,066
	806,295		Sekisui Chemical Co Ltd		8,487
	1,029,477		Sekisui House Ltd		16,126
	66,492	*,e	Sequential Brands Group, Inc		962
	385,900		Shanghai Haixin Group Co		230
	338,365	*,e	Sharp Corp		388
	223,400	*	Shenzhen China Bicycle Co Holdings Ltd		132
	694,493		Shenzhou International Group Holdings Ltd		3,598
	93,245		Shimano, Inc		13,100
	263,000		Shinkong Textile Co Ltd		312
	887,000	e	Sitoy Group Holdings Ltd		440
	168,808	*	Skechers U.S.A., Inc (Class A)		22,634
	58,269	*	Skullcandy, Inc		322
	7,658,401		Skyworth Digital Holdings Ltd		5,213
	139,486	*,e	Smith & Wesson Holding Corp		2,353
	6,320,932	*	Sony Corp		154,939
	340,453	*	Sony Corp (ADR)		8,341
	336,845	*,g	Spin Master Corp		5,238
	16,166		SRF Ltd		278
	9,000		SRI Sports Ltd		84
	487,476	*	Standard-Pacific Corp		3,900
	25,800		Starts Corp, Inc		399
	3,353,227	e	Steinhoff International Holdings Ltd		20,590
	227,995	*	Steven Madden Ltd		8,349
	48,991	e	Sturm Ruger & Co, Inc		2,875
	156,154		Sumitomo Forestry Co Ltd		1,749
	11,132	e	Superior Uniform Group, Inc		200
	35,422		Swatch Group AG.		13,137
	243,625		Swatch Group AG. (Registered)		17,575
	6,656		Symphony Ltd		187
	1,027,602		Tainan Spinning Co Ltd		435
	244,600		Taiwan Paiho Ltd		667
	220,893	e	Takamatsu Corp		4,680
	15,800		Tamron Co Ltd		289
	1,951,298	*	Tatung Co Ltd		301
	129,575	*	Taylor Morrison Home Corp		2,418
	7,751,211		Taylor Wimpey plc		22,965
	3,990,000	e	TCL Multimedia Technology Holdings Ltd		1,792
	2,152,000		Techtronic Industries Co		8,023
	333,700		Tecnisa S.A.		261
	45,105		Ted Baker plc		2,190
	403,599	*	Tempur-Pedic International, Inc		28,829
	955,500		Texhong Textile Group Ltd		660
	2,524,000		Texwinca Holdings Ltd		2,276
	288,775	e	Thomson		1,997
	67,464	*,g	Thule Group AB		775
	1,444,000		Time Watch Investments Ltd		232
	12,078	e	Tod’s S.p.A.		1,058
	7,890		Token Corp		593
	179,593	*	Toll Brothers, Inc		6,149

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	465,704	*	TomTom NV	$	4,767
	59,068	e	Tomy Co Ltd		289
	45,183	*	TopBuild Corp		1,399
	48,000		Topkey Corp		187
	79,000		Toung Loong Textile Manufacturing		288
	420,373	*	TRI Pointe Homes, Inc		5,503
	22,957		Trigano S.A.		1,091
	15,414,000	e	Trinity Ltd		1,675
	79,500		TSI Holdings Co Ltd		576
	2,278		TTK Prestige Ltd		131
	288,127	*	Tumi Holdings, Inc		5,077
	243,567	e	Tupperware Corp		12,054
	184,835	*,e	Under Armour, Inc (Class A)		17,888
	40,625	*	Unifi, Inc		1,211
	2,424,000	*	Unitika Ltd		1,157
	88,997	*	Universal Electronics, Inc		3,741
	208,800	e	Universal Entertainment Corp		3,684
	591,479	*,e,m	Urbi Desarrollos Urbanos S.A. de C.V		0	^
	9,981		Vaibhav Global Ltd		57
	33,377		Vardhman Textiles Ltd		477
	65,178	*,e	Vera Bradley, Inc		822
	76,167	*	Vestel Elektronik Sanayi		100
	1,586,352		VF Corp		108,205
	37,628		Videocon Industries Ltd		79
	102,413	*,e	Vince Holding Corp		351
	113,828	*	Vista Outdoor, Inc		5,057
	232,627		Wacoal Holdings Corp		2,783
	40,311	*	WCI Communities, Inc		912
	374,500		Weiqiao Textile Co		152
	3,572,000		Welling Holding Ltd		594
	22,809		Welspun India Ltd		294
	20,010	e	Weyco Group, Inc		541
	74,606		Whirlpool Corp		10,986
	45,859	*	Whirlpool of India Ltd		460
	46,788	*	William Lyon Homes, Inc		964
	340,230	e	Wolverine World Wide, Inc		7,363
	125,014		Woongjin Coway Co Ltd		8,846
	401,631		Wuxi Little Swan Co Ltd		863
	1,235,500		XTEP International Holdings		614
	139,450		Yamaha Corp		3,089
	16,500	e	Yondoshi Holdings, Inc		402
	21,855		Youngone Corp		1,119
	10,840		Youngone Holdings Co Ltd		785
	1,413,407		Yue Yuen Industrial Holdings		5,259
	1,058,000	e	Yuxing InfoTech Investment Holdings Ltd		292
	75,007	*	Zagg, Inc		509
	170,764		Zeng Hsing Industrial Co Ltd		662
	79,600		Zhonglu Co Ltd		208
	32,000	*,e	Zojirushi Corp		461
			TOTAL CONSUMER DURABLES & APPAREL		2,871,757

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
CONSUMER SERVICES - 2.1%
	66,028	*,e	2U, Inc	$	2,370
	467,263		888 Holdings plc		1,166
	2,350,381		Accor S.A.		110,203
	52,600	e	Accordia Golf Co Ltd		475
	4,884,000		Accordia Golf Trust		2,162
	599,602	e	Advtech Ltd		534
	123,454	e	Ainsworth Game Technology Ltd		244
	8,068,000		Ajisen China Holdings Ltd		3,639
	868,102	e	Alsea SAB de C.V.		2,579
	113,805	*,e	Amaya, Inc		2,075
	317,000		Ambassador Hotel		267
	42,808	*,e	American Public Education, Inc		1,004
	244,549	*,e	Apollo Group, Inc (Class A)		2,705
	2,252,977		ARAMARK Holdings Corp		66,778
	463,346	e	Ardent Leisure Group		880
	830,941		Aristocrat Leisure Ltd		5,054
	74,164	*	Ascent Media Corp (Series A)		2,031
	59,500	e	Atom Corp		322
	124,905	*	Autogrill S.p.A.		1,139
	2,192,691	*	Belmond Ltd.		22,168
	54,625	e	Benesse Corp		1,461
	562,474		Berjaya Sports Toto BHD		394
	217,619		Betfair Group plc		10,968
	124,501		Betsson AB		2,097
	72,653	*	BJ’s Restaurants, Inc		3,126
	14,030,800		Bloomberry Resorts Corp		1,568
	865,625		Bloomin’ Brands, Inc		15,737
	57,675	e	Bob Evans Farms, Inc		2,500
	84,918	*,e	Bojangles’, Inc		1,435
	516,613	*	Boyd Gaming Corp		8,421
	71,516	*	Bravo Brio Restaurant Group, Inc		806
	146,577	*,e	Bridgepoint Education, Inc		1,117
	95,237	*	Bright Horizons Family Solutions		6,118
	323,094		Brinker International, Inc		17,017
	76,335	*	Buffalo Wild Wings, Inc		14,766
	767,056	e	Bwin.Party Digital Entertainment plc		1,292
	142,466	*,e	Caesars Acquisition Co		1,012
	142,370	*,e	Caesars Entertainment Corp		839
	666,000		Cafe de Coral Holdings Ltd		2,229
	33,499	*,e	Cambium Learning Group, Inc		160
	79,144		Capella Education Co		3,919
	63,040		Cara Operations Ltd		1,570
	260,954	*	Career Education Corp		981
	1,627,478		Carnival Corp		80,886
	344,105		Carnival plc		17,803
	49,343		Carriage Services, Inc		1,065
	116,342	*	Carrols Restaurant Group, Inc		1,385
	141,466		Cheesecake Factory		7,634
	265,983	*,e	Chegg, Inc		1,918
	6,320,000	e	China LotSynergy Holdings Ltd		275
	378,000		China Maple Leaf Educational Systems Ltd		105
	2,472,000		China Travel International Inv HK		905

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,405,000	*,e	China Vanguard Group Ltd	$	178
	77,361	*	Chipotle Mexican Grill, Inc (Class A)		55,719
	51,851	e	Choice Hotels International, Inc		2,471
	34,289		Churchill Downs, Inc		4,588
	266,932	*	Chuy’s Holdings, Inc		7,581
	20,150		Cie des Alpes		397
	63,686		City Lodge Hotels Ltd		659
	111,056		ClubCorp Holdings, Inc		2,383
	20,137		Collectors Universe		304
	58,000	e	Colowide Co Ltd		814
	562,793		Compass Group plc		8,989
	236,384	e	Corporate Travel Management Lt		1,610
	114,970		Cox & Kings India Ltd		362
	52,096	e	Cracker Barrel Old Country Store, Inc		7,673
	14,200	e	Create Restaurants Holdings, Inc		294
	2,474		Credu Corp		125
	410,004		Crown Ltd		2,868
	176,300		CVC Brasil Operadora e Agencia de Viagens S.A.		614
	70,508		Daekyo Co Ltd		566
	147,000		Dahan Development Corp		279
	5,700	e	Daisyo Corp		67
	356,078		Darden Restaurants, Inc		24,406
	122,313	*	Dave & Buster’s Entertainment, Inc		4,627
	59,537	*	Del Frisco’s Restaurant Group, Inc		827
	453,899	*	Denny’s Corp		5,007
	165,247	e	DeVry, Inc		4,496
	105,693	*,e	Diamond Resorts International, Inc		2,472
	56,024		Dignity plc		2,018
	44,243		DineEquity, Inc		4,055
	7,524	e	DO & CO AG.		610
	239,125		Domino’s Pizza Enterprises Ltd		6,801
	426,216		Domino’s Pizza UK & IRL plc		5,735
	155,167		Domino’s Pizza, Inc		16,744
	97,600		Doutor Nichires Holdings Co Ltd		1,496
	2,501,773	*	Dubai Parks & Resorts PJSC		827
	62,260	e	Dunkin Brands Group, Inc		3,051
	2,735,400		Dynam Japan Holdings Co Ltd		3,398
	4,733,959		Echo Entertainment Group Ltd		16,199
	144,885		EIH Ltd		216
	35,561	*,e	El Pollo Loco Holdings, Inc		383
	69,901	*,e	Eldorado Resorts, Inc		631
	1,485,000		Emperor Entertainment Hotel Ltd		267
	42,288	*,e	Empire Resorts, Inc		178
	104,112	e	EnerCare, Inc		1,099
	686,152	*	Enterprise Inns plc		1,125
	1,474,000		Erawan Group PCL		150
	781,349		Estacio Participacoes S.A.		2,779
	158,632	*,e	Euro Disney SCA		222
	2,898,422		Extended Stay America, Inc		48,636
	191,476	e	Famous Brands Ltd		1,867
	67,934	*	Fiesta Restaurant Group, Inc		3,082
	240,481		First Hotel		140

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	252,404	e	Flight Centre Ltd	$	6,429
	305,399	*,e	Fogo De Chao, Inc		4,764
	47,363		Formosa International Hotels Corp		317
	826,000	e	Fu Shou Yuan International Group Ltd		520
	55,000	e	Fuji Kyuko Co Ltd		514
	65,000	e	Fujita Kanko, Inc		224
	297,434	e	G8 Education Ltd		613
	31,800		GAEC Educacao S.A.		78
	1,845,155		Galaxy Entertainment Group Ltd		4,726
	2,262,408		Genting BHD		3,746
	5,063,193		Genting International plc		2,586
	936,742		Gold Reef Resorts Ltd		1,636
	63,000		Gourmet Master Co Ltd		374
	1,458		Graham Holdings Co		841
	171,738	*	Grand Canyon Education, Inc		6,524
	27,421		Grand Korea Leisure Co Ltd		772
	112,492	*	Great Canadian Gaming Corp		1,572
	306,348		Greene King plc		3,692
	509,000		GuocoLeisure Ltd		285
	119,369	e	GVC Holdings plc		736
	594,983		H&R Block, Inc		21,538
	30,145	*,e	Habit Restaurants, Inc		645
	1,125,000	*,e,g	Haichang Holdings Ltd		220
	8,060		Hana Tour Service, Inc		990
	11,500	e	Hiday Hidaka Corp		291
	3,442,548		Hilton Worldwide Holdings, Inc		78,972
	26,400		Hiramatsu Inc		139
	106,500		HIS Co Ltd		3,482
	153,135	*	Homeinns Hotel Group (ADR)		4,401
	269,300	*,e	Hoteles City Express SAB de C.V.		346
	542,017	*	Houghton Mifflin Harcourt Co		11,008
	146,850		Huangshan Tourism Development Co Ltd		225
	111,082	*,e	Hyatt Hotels Corp		5,232
	7,700	e	Ichibanya Co Ltd		350
	486,891	*	Indian Hotels Co Ltd		640
	91,271		InterContinental Hotels Group plc		3,162
	178,567	e	International Game Technology plc		2,737
	90,432		International Speedway Corp (Class A)		2,869
	51,640		Intertain Group Ltd		444
	267,684		Interval Leisure Group, Inc		4,915
	104,666	*	Intralot S.A.-Integrated Lottery Systems & Services		199
	115,869	*	Intrawest Resorts Holdings Inc		1,003
	106,012	e	Invocare Ltd		812
	260,569	*	Isle of Capri Casinos, Inc		4,544
	35,930	*	J Alexander’s Holdings, Inc		358
	152,549		Jack in the Box, Inc		11,752
	38,757	*,e	Jamba, Inc		552
	1,689		Jinmao Investments and Jinmao China Investments Holdings Ltd		1
	545,752		Jollibee Foods Corp		2,255
	27,466		Jubilant Foodworks Ltd		672
	330,767	*	K12, Inc		4,115

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	397,525		Kangwon Land, Inc	$	14,208
	24,600	*,e	Kappa Create Co Ltd		253
	18,200	e	Kisoji Co Ltd		301
	382,000	*	KNT-CT Holdings Co Ltd		781
	22,060	*,e	Kona Grill, Inc		347
	7,400		Koshidaka Holdings Co Ltd		160
	815,333		Kosmopolito Hotels International Ltd		155
	210,021	*	Krispy Kreme Doughnuts, Inc		3,073
	4,331,624		Kroton Educacional S.A.		8,424
	4,513	e	Kuoni Reisen Holding		846
	9,800		Kura Corp		311
	10,500		Kyoritsu Maintenance Co Ltd		676
	354,166	*	La Quinta Holdings, Inc		5,589
	1,016,991		Ladbrokes plc		1,477
	556,559	e	Las Vegas Sands Corp		21,133
	11,844	e	Liberty Tax, Inc		276
	336,597	*,e	LifeLock, Inc		2,949
	3,128,000	*,e	Macau Legend Development Ltd		447
	579,200		Magnum BHD		337
	204,044	e	Mantra Group Ltd		575
	68,215		Marcus Corp		1,319
	256,208	e	Marriott International, Inc (Class A)		17,473
	66,768		Marriott Vacations Worldwide Corp		4,550
	594,026		Marston’s plc		1,347
	6,900		Matsuya Foods Co Ltd		133
	1,200,000	*	Max’s Group, Inc		540
	1,787,941		McDonald’s Corp		176,166
	17,153	e	McDonald’s Holdings Co Japan Ltd		385
	8,587		MegaStudy Co Ltd		283
	17,300	e	Meiko Network Japan Co Ltd		189
	50,991,400	*	Melco Crown Philippines Resorts Corp		4,076
	775,000	e	Melco International Development		953
	538,681	e	Melco PBL Entertainment Macau Ltd (ADR)		7,412
	86,953		Melia Hotels International S.A.		1,213
	1,221,779	g	Merlin Entertainments plc		6,884
	1,158,500	e	MGM China Holdings Ltd		1,350
	3,237,514	*	MGM Resorts International		59,732
	5,046,900		Minor International PCL (Foreign)		3,963
	214,777	*	Mitchells & Butlers plc		1,029
	9,914		Modetour Network, Inc		322
	35,004	*	Monarch Casino & Resort, Inc		629
	84,260	*	Morgans Hotel Group Co		280
	23,200	e	MOS Food Services, Inc		492
	13,937	e	MTY Food Group, Inc		332
	237,284	e	Navitas Ltd		666
	180,369	*	NET Holding AS		187
	13,205		New Oriental Education & Technology Group (ADR)		267
	185,695	*,e	NH Hoteles S.A.		998
	33,633	*,e	Noodles & Co		476
	2,166,362	*	Norwegian Cruise Line Holdings Ltd		124,133
	9,800		Ohsho Food Service Corp		324
	615,000	*,g	On the Beach Group plc		2,028

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	269,296		OPAP S.A.	$	2,441
	12,137	*	Orascom Development Holding AG.		147
	109,700	e	Oriental Land Co Ltd		6,126
	414,600	e	Overseas Union Enterprise Ltd		523
	119,498		Paddy Power plc		13,826
	25,104	*	Panera Bread Co (Class A)		4,855
	195,976	e	Papa John’s International, Inc		13,420
	651,212	*,e	Papa Murphy’s Holdings, Inc		9,560
	50,618		Paradise Co Ltd		964
	456,000	e	Paradise Entertainment Ltd		77
	326,016	*,e	Penn National Gaming, Inc		5,471
	396,800		Philweb Corp		158
	5,200	*	Pierre & Vacances		141
	233,587	*	Pinnacle Entertainment, Inc		7,905
	36,259	*	Planet Fitness, Inc		622
	18,800		Plenus Co Ltd		290
	114,393	*	Popeyes Louisiana Kitchen, Inc		6,447
	58,401	*,e	Potbelly Corp		643
	337,000		Prestariang BHD		142
	37,324	*	Red Robin Gourmet Burgers, Inc		2,827
	397,000	e	Regal Hotels International Holdings Ltd		207
	214,887	*,e	Regis Corp		2,815
	3,557,834		Resorts World BHD		3,362
	73,800	e	Resorttrust, Inc		1,836
	2,046		Restaurant Brands International LP		71
	1,961,775	e	Restaurant Brands International, Inc		70,467
	223,434	e	Restaurant Brands International, Inc (Toronto)		8,043
	197,935		Restaurant Group plc		2,025
	414,216	e	Retail Food Group Ltd		1,210
	8,535,535	e,m	REXLot Holdings Ltd		485
	96,859		Rezidor Hotel Group AB		373
	16,100	e	Ringer Hut Co Ltd		348
	64,400	e	Round One Corp		259
	198,837		Royal Caribbean Cruises Ltd		17,714
	28,400		Royal Holdings Co Ltd		486
	174,731	*	Ruby Tuesday, Inc		1,085
	160,983		Ruth’s Chris Steak House, Inc		2,614
	28,700	e	Saizeriya Co Ltd		651
	7,864,295	e	Sands China Ltd		23,888
	132,379	*,e	Scientific Games Corp (Class A)		1,383
	176,406	e	SeaWorld Entertainment, Inc		3,142
	246,400		Ser Educacional S.A.		533
	535,898		Service Corp International		14,523
	405,036	*	ServiceMaster Global Holdings, Inc		13,589
	25,667	*,e	Shake Shack, Inc		1,217
	1,214,000		Shanghai Jinjiang International Hotels Group Co Ltd		341
	61,449		Shanghai Jinjiang International Travel Co Ltd		198
	1,102,120		Shangri-La Asia Ltd		957
	1,502		Shinsegae Food Co Ltd		254
	170,343		Six Flags Entertainment Corp		7,798
	3,447,613	e	SJM Holdings Ltd		2,455
	48,548		SkiStar AB (Series B)		690

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	572,705		Sky City Entertainment Group Ltd	$	1,372
	108,200	*	Skylark Co Ltd		1,409
	381,025	e	Slater & Gordon Ltd		792
	24,403		Sodexho Alliance S.A.		2,025
	93,400		Somos Educacao S.A.		309
	735,513		Sonic Corp		16,880
	159,893	e	Sotheby’s (Class A)		5,113
	62,564		Speedway Motorsports, Inc		1,129
	136,854		Spur Corp Ltd		326
	578,593		SSP Group plc		2,679
	15,800		St Marc Holdings Co Ltd		483
	6,073,836		Starbucks Corp		345,237
	203,925		Starwood Hotels & Resorts Worldwide, Inc		13,557
	4,204	*	Steak N Shake Co		1,538
	53,848	*	Steiner Leisure Ltd		3,402
	28,873	*	Strayer Education, Inc		1,587
	248,181		Sun International Ltd		1,563
	2,128,100		Ta Enterprise BHD		298
	1,489,500		TA Global BHD		95
	1,711,017		Tabcorp Holdings Ltd		5,633
	1,132,397		Tattersall’s Ltd		3,004
	182,149		Texas Roadhouse, Inc (Class A)		6,776
	1,473,071	*	Thomas Cook Group plc		2,584
	59,711		Thomas Cook India Ltd		185
	176,000		Tokyo Dome Corp		770
	154,000		Tokyotokeiba Co Ltd		369
	20,800	e	Toridoll.corp		247
	7,000		Tosho Co Ltd		174
	602,000	e	Tsui Wah Holdings Ltd		140
	17,500	e	Tsukada Global Holdings Inc		107
	487,463		TUI AG. (DI)		9,007
	74,780		Unibet Group plc (ADR)		6,261
	52,720		Universal Technical Institute, Inc		185
	104,197		Vail Resorts, Inc		10,907
	14,700	e	Watami Co Ltd		114
	143,249	e	Wendy’s		1,239
	87,876		Wetherspoon (J.D.) plc		980
	44,903		Whistler Blackcomb Holdings, Inc		723
	541,515		Whitbread plc		38,364
	296,600		William Hill plc		1,578
	15,822	*	Wingstop, Inc		379
	54,220		Wowprime Corp		291
	364,977	e	Wyndham Worldwide Corp		26,242
	1,369,971	e	Wynn Macau Ltd		1,567
	371,329	e	Wynn Resorts Ltd		19,725
	366,000	g	Xiabuxiabu Catering Management China Holdings Co Ltd		180
	325,000		YBM Sisa.com, Inc		1,051
	31,000	e	Yomiuri Land Co Ltd		100
	59,800		Yoshinoya D&C Co Ltd		776
	944,594		Yum! Brands, Inc		75,520
	18,009		Zeal Network SE		810
	93,000	*,e	Zensho Co Ltd		868

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	568,000		Zhuhai Holdings Investment Group Ltd	$	76
	750,196	*,e	Zoe’s Kitchen, Inc		29,625
			TOTAL CONSUMER SERVICES		2,301,611
DIVERSIFIED FINANCIALS - 3.5%
	1,886,869		3i Group plc		13,329
	78,241		ABC Arbitrage		437
	384,387	e	Aberdeen Asset Management plc		1,727
	62,214		Ackermans & Van Haaren		9,119
	246,450	*,e	Acom Co Ltd		1,261
	106,000		Aeon Credit Service M BHD		327
	263,148	e	AEON Financial Service Co Ltd		5,207
	196,012	*	Affiliated Managers Group, Inc		33,516
	710,449		AFP Habitat S.A.		830
	1,389,533	*,e,m	African Bank Investments Ltd		1
	255,989	e	AGF Management Ltd		1,015
	309,900	*,e	Aiful Corp		1,150
	2,306,360		AIRA Capital Co Ltd		145
	25,602		Aker ASA (A Shares)		446
	1,477,453		Al Waha Capital PJSC		896
	109,690	e	Alaris Royalty Corp		2,216
	706,980		Alexander Forbes Group Holdings Ltd		390
	250,632	*,e	Allied Minds plc		1,334
	1,886,125	*	Ally Financial, Inc		38,439
	1,167,289	*	Amanat Holdings PJSC		228
	2,615,774		American Express Co		193,907
	1,062,933		Ameriprise Financial, Inc		115,998
	1,822,282	g	Anima Holding S.p.A		15,943
	677,949		ARA Asset Management Ltd		629
	56,060	e	Arlington Asset Investment Corp (Class A)		788
	223,026		Arrow Global Group plc		945
	77,675	e	Artisan Partners Asset Management, Inc		2,736
	2,725	*,e	Ashford, Inc		173
	348,888	e	Ashmore Group plc		1,303
	12,981	*,m	Asia Pacific Investment Partners Limited		88
	3,587,200		Asia Plus Group Holdings PCL		364
	64,193		Aurelius AG.		2,990
	235,894		Australian Stock Exchange Ltd		6,298
	21,362		Avanza AB		877
	336,116		Ayala Corp		5,519
	2,215	*,m	Ayala Corp Preferred		0	^
	138,208		Azimut Holding S.p.A.		2,966
	65,593		Banca Generali S.p.A		1,850
	82,519		Banca IFIS S.p.A.		1,919
	2,860,584		Bank of New York Mellon Corp		111,992
	594,888		BGC Partners, Inc (Class A)		4,890
	275,956		BinckBank NV		2,279
	81,653		BlackRock, Inc		24,289
	475,400		Blackstone Group LP		15,056
	2,759,986		BM&F Bovespa S.A.		7,714
	2,151,200	e	Bolsa Mexicana de Valores S.A. de C.V.		3,373
	82,171	e	Bolsas y Mercados Espanoles		2,780

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,306,111	*,e	Brait S.A.	$	13,270
	319,416		Brewin Dolphin Holdings plc		1,243
	638,000		Bright Smart Securities & Commodities Group Ltd		180
	320,856		BT Investment Management Ltd		2,163
	176,750		Bure Equity AB		923
	362,400		Bursa Malaysia BHD		665
	80,747		Calamos Asset Management, Inc (Class A)		765
	26,635		Callidus Capital Corp		228
	96,219		Canaccord Financial, Inc		377
	23,862		Capital First Ltd		135
	769,893		Capital One Financial Corp		55,833
	1,598,000		Capital Securities Corp		437
	74,560	e	Cash America International, Inc		2,085
	1,758,000	*	Cash Financial Services Group Ltd		74
	387,091		CBOE Holdings, Inc		25,966
	70,756		Cembra Money Bank AG.		4,184
	1,176,000	e	Central China Securities Co Ltd		610
	72,901		Century Leasing System, Inc		2,111
	129,980		Cerved Information Solutions S.p.A		960
	258,915		CETIP S.A.-Balcao Organizado de Ativos e Derivativos		2,149
	1,179,537		Chailease Holding Co Ltd		1,855
	839,343		Challenger Financial Services Group Ltd		4,236
	2,655,224		Charles Schwab Corp		75,833
	2,181,000		China Bills Finance Corp		738
	17,412,440		China Cinda Asset Management Co Ltd		6,055
	1,098,137		China Everbright Ltd		2,522
	3,410,000	*,e	China Financial International Investments Ltd		399
	5,753,000		China Galaxy Securities Co Ltd		4,076
	17,200,000	e	China LNG Group Ltd		714
	112,665	e	China Merchants China Direct Investments Ltd		175
	3,778,000	*,e	China Smarter Energy Group Holdings Ltd		348
	356,682		CI Financial Corp		8,099
	13,749	e	CIFC Corp		98
	628,526	*	Citadel Capital Corp		131
	2,624,903	e	CITIC Securities Co Ltd		4,718
	155,402		Close Brothers Group plc		3,515
	197,614		CME Group, Inc		18,327
	93,069		Coface S.A.		819
	51,281		Cohen & Steers, Inc		1,408
	36,991	*	Consumer Portfolio Services, Inc		184
	266,782		Coronation Fund Managers Ltd		1,259
	15,703		Corp Financiera Alba		655
	133,854		Corp Financiera Colombiana S.A.		1,646
	287,842	*,e	Cowen Group, Inc		1,313
	47,587	*,e	Credit Acceptance Corp		9,368
	25,239		Credit Analysis & Research Ltd		431
	1,377,600	e	Credit China Holdings Ltd		356
	123,764		Credit Saison Co Ltd		2,248
	1,916,666		Credit Suisse Group		46,071
	594,847		Credito Real SAB de C.V.		1,162
	28,955		CRISIL Ltd		811
	222,345		Daewoo Securities Co Ltd		2,253

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	37,408		Daishin Securities Co Ltd	$	356
	21,344		Daishin Securities Co Ltd PF		132
	2,954,760	*	Daiwa Securities Group, Inc		19,119
	90,742		DeA Capital S.p.A.		141
	1,371,350		Deutsche Bank AG.		37,009
	30,911	*	Deutsche Beteiligungs AG.		861
	499,289		Deutsche Boerse AG.		43,061
	9,299		Diamond Hill Investment Group, Inc		1,730
	240,000	*	Differ Group Holding Co Ltd		135
	691,428		Discover Financial Services		35,947
	2,340,345		Dubai Financial Market		1,078
	40,266	*	Dundee Corp		260
	909,897	*	E*TRADE Financial Corp		23,958
	283,629		Eaton Vance Corp		9,479
	273,081		Edelweiss Capital Ltd		242
	27,419		EFG Financial Products Holding AG.		4,847
	654,178	e	EFG International		6,981
	677,857		Egypt Kuwait Holding Co		394
	495,490	*	Egyptian Financial Group-Hermes Holding		513
	526,954	*	Element Financial Corp		7,195
	69,112	*,e	Encore Capital Group, Inc		2,557
	88,961	*,e	Enova International, Inc		909
	65,632	*	Eugene Investment & Securities Co Ltd		166
	30,855		Eurazeo		2,055
	1,400,049	g	Euronext NV		59,720
	158,624		Evercore Partners, Inc (Class A)		7,969
	64,497		Exor S.p.A.		2,812
	125,566	*	Ezcorp, Inc (Class A)		775
	123,259	*,g	Fairfax India Holdings Corp		1,368
	4,453,395		Far East Horizon Ltd		3,458
	207,876	e	Federated Investors, Inc (Class B)		6,008
	8,119	e	Ferratum Oyj		194
	67,758		Fiera Capital Corp		605
	17,934	e	Fifth Street Asset Management, Inc		134
	136,269	e	Financial Engines, Inc		4,016
	176,100	e	Financial Products Group Co Ltd		1,274
	90,342	*	First Cash Financial Services, Inc		3,619
	2,998,785		First Pacific Co		1,832
	7,554,982	e	FirstRand Ltd		26,847
	227,477	e	FlexiGroup Ltd		377
	208,026	*	FNFV Group		2,438
	170,056	*	Fondul Proprietatea S.A. (ADR)		1,701
	238,612		Franklin Resources, Inc		8,891
	7,100,000	*	Freeman Financial Corp Ltd		444
	15,982,286		Fubon Financial Holding Co Ltd		25,019
	35,592,441		Fuhwa Financial Holdings Co Ltd		13,234
	28,400	e	Fuyo General Lease Co Ltd		1,091
	83,209		Gain Capital Holdings, Inc		606
	16,518		GAMCO Investors, Inc (Class A)		907
	1,359,563	e	Gentera SAB de C.V.		2,225
	1,175,000	*,e	GF Securities Co Ltd		2,142
	22,496		Gimv NV		1,026

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	66,892	e	Gluskin Sheff + Associates, Inc	$	998
	51,784		GMP Capital, Inc		161
	902,429		Goldman Sachs Group, Inc		156,806
	311,602	*	Green Dot Corp		5,484
	81,690		Greenhill & Co, Inc		2,326
	103,716		Groupe Bruxelles Lambert S.A.		7,827
	491,725		Grupo de Inversiones Suramericana S.A.		5,714
	135,640		Grupo de Inversiones Suramericana S.A. (Preference)		1,555
	268,300	e	Grupo Financiero Interacciones S.A. de C.V.		1,526
	248,395		GT Capital Holdings, Inc		6,738
	796,497	*	Gulf General Investment Co		152
	8,947,800	e	Guotai Junan International Hol		2,558
	3,680,590		Haci Omer Sabanci Holding AS		10,799
	4,536,812		Haitong Securities Co Ltd		6,611
	22,985		Hankook Tire Worldwide Co Ltd		352
	48,429		Hanwha Securities Co		204
	249,686		Hargreaves Lansdown plc		4,566
	172,268		Hellenic Exchanges S.A.		955
	8,493,217		Henderson Group plc		33,474
	248,256		HFF, Inc (Class A)		8,381
	228,000	e	Hitachi Capital Corp		5,565
	12,754		HMC Investment Securities Co Ltd		113
	1,237,937		Hong Kong Exchanges and Clearing Ltd		28,399
	27,819	*	Houlihan Lokey, Inc		606
	1,411,400	*,e,g	Huatai Securities Co Ltd		2,816
	278,745		Hyundai Securities Co		1,797
	31,800	e	IBJ Leasing Co Ltd		620
	172,017		ICAP plc		1,191
	172,900	e	Ichigo Holdings Co Ltd		403
	38,100	e	Ichiyoshi Securities Co Ltd		331
	1,687,772		IFCI Ltd		557
	375,521		IG Group Holdings plc		4,376
	192,187	e	IGM Financial, Inc		4,876
	286,967		India Infoline Ltd		828
	421,199		Indiabulls Housing Finance Ltd		5,110
	18,736		Indiabulls Securities Ltd		9
	269,646		Industrivarden AB		4,736
	756,564		Infrastructure Development Finance Co Ltd		1,631
	13,082,137		ING Groep NV		184,917
	846,428	e	ING Groep NV (ADR)		11,960
	122,234		Interactive Brokers Group, Inc (Class A)		4,825
	179,983	*,m	Interbolsa S.A.		0	^
	229,233		IntercontinentalExchange Group, Inc		53,867
	787,529		Intermediate Capital Group plc		6,160
	228,460		International Personal Finance plc		1,343
	44,102	*	INTL FCStone, Inc		1,089
	61,488		Inversiones La Construccion S.A.		663
	668,181		Invesco Ltd		20,867
	235,514		Investec Ltd		1,803
	1,146,239		Investec plc		8,777
	208,018		Investment Technology Group, Inc		2,775
	757,924		Investor AB (B Shares)		26,043

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	281,653	e	IOOF Holdings Ltd	$	1,700
	106,965	e	iShares Dow Jones US Real Estate Index Fund		7,589
	215,061	e	iShares MSCI Canada Index Fund		4,946
	1,164,125	e	iShares MSCI EAFE Index Fund		66,728
	575,193	e	iShares MSCI Emerging Markets		18,855
	20,300		Iwai Securities Co Ltd		232
	77,900	e	J Trust Co Ltd		625
	134,000	e	Jaccs Co Ltd		505
	141,217		Jafco Co Ltd		5,580
	661,781	e	Janus Capital Group, Inc		9,000
	1,346,200	e	Japan Securities Finance Co Ltd		6,893
	38,300	*,e	JG Wentworth Co		189
	1,774,658		Jih Sun Financial Holdings Co Ltd		390
	166,160		JM Financial Ltd		110
	188,771		JSE Ltd		1,760
	283,643		Julius Baer Group Ltd		12,881
	422,539		Julius Baer Holding AG.		7,437
	1,134,485		Jupiter Investment Management Group Ltd		7,452
	846,000		K1 Ventures Ltd		112
	3,538,600	e	kabu.com Securities Co Ltd		11,482
	30,896		KBC Ancora		1,192
	86,779	*	KCG Holdings, Inc		952
	487,252		Kinnevik Investment AB (Series B)		13,928
	10,754		KIWOOM Securities Co Ltd		517
	130,000		Korea Investment Holdings Co Ltd		6,724
	591,900		Krungthai Card PCL		1,532
	16,166		Kyobo Securities Co		134
	21,100		Kyokuto Securities Co Ltd		283
	866,413		L&T Finance Holdings Ltd		884
	279,131	*,e	Ladenburg Thalmann Financial Services, Inc		589
	1,159,634		Lazard Ltd (Class A)		50,212
	515,815		Legg Mason, Inc		21,463
	234,777	*,e	LendingClub Corp		3,106
	564,448		Leucadia National Corp		11,436
	461,756		London Stock Exchange Group plc		16,925
	207,473	e	LPL Financial Holdings, Inc		8,251
	89,412		Lundbergs AB (B Shares)		4,320
	276,523		Macquarie Group Ltd		14,986
	397,330	e	Magellan Financial Group Ltd		5,334
	357,097		Mahindra & Mahindra Financial Services Ltd		1,305
	25,223,267		Man Group plc		58,549
	536,948		Manappuram General Finance & Leasing Ltd		197
	157,551		MarketAxess Holdings, Inc		14,633
	43,033		Marlin Business Services Corp		662
	62,000		Marusan Securities Co Ltd		630
	2,184,607		Masterlink Securities Corp		580
	391,600	e	Matsui Securities Co Ltd		3,396
	1,082,811		McGraw-Hill Financial, Inc		93,663
	8,096,756		Mediobanca S.p.A.		79,662
	15,573	e	Medley Management, Inc		103
	33,500		Meritz finance Holdings Co Ltd		408
	942,217		Meritz Securities Co Ltd		3,572

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	14,385,704		Metro Pacific Investments Corp	$	1,534
	26,531		Mirae Asset Securities Co Ltd		628
	176,600	e	Mito Securities Co Ltd		583
	245,654		Mitsubishi UFJ Lease & Finance Co Ltd		1,082
	128,156		MLP AG.		568
	180,178		Moelis & Co		4,731
	1,773,700	e	Monex Beans Holdings, Inc		4,376
	1,241,554		Moody’s Corp		121,921
	9,965,064		Morgan Stanley		313,900
	25,597		Motilal Oswal Financial Services Ltd		114
	241,560		MSCI, Inc (Class A)		14,363
	573,600		Muangthai Leasing PCL		245
	1,222,300	*	Mulpha International BHD		83
	160,391		Muthoot Finance Ltd		402
	235,886		NASDAQ OMX Group, Inc		12,580
	687,109		Navient Corp		7,723
	154,718		Nelnet, Inc (Class A)		5,355
	89,954	*	NewStar Financial, Inc		738
	17,036		NICE Holdings Co Ltd		388
	30,146		NICE Information Service Co Ltd		321
	9,325,939	*	Nomura Holdings, Inc		54,131
	86,438		Nordnet AB (Series B)		324
	236,077		Northern Trust Corp		16,091
	559,452		NorthStar Asset Management Group, Inc		8,034
	3,367,866		NZX Ltd		2,114
	349,000	e	Okasan Holdings, Inc		2,107
	94,482	e	OM Asset Management plc		1,457
	45,851	*,e	On Deck Capital, Inc		454
	89,976		Onex Corp		5,194
	27,973		Oppenheimer Holdings, Inc		560
	14,659		Oresund Investment AB		301
	440,400	*,e	Orient Corp		747
	2,983,970		ORIX Corp		38,491
	508,566		Osaka Securities Exchange Co Ltd		7,434
	409,075		OSK Holdings BHD		160
	218,068	e	OzForex Group Ltd		411
	13,246		Pargesa Holding S.A.		777
	9,068		Partners Group		3,073
	529,652		Peregrine Holdings Ltd		1,106
	517,000	*,m	Peregrine Investment Holdings		0
	156,983	e	Perpetual Trustees Australia Ltd		4,398
	128,318	*	PHH Corp		1,812
	82,264		Philippine Stock Exchange, Inc		521
	61,251	*	Pico Holdings, Inc		593
	264,687	*	Pioneers Holding		254
	35,306	*	Piper Jaffray Cos		1,277
	802,083		Platinum Asset Mangement Ltd		3,832
	237,263		Plus500 Ltd		1,330
	657,984		Power Finance Corp Ltd		2,314
	60,000	e	PowerShares QQQ Trust Series		6,106
	126,866	*,e	PRA Group, Inc		6,714
	6,234,000		Premium Leisure Corp		131

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	990,509		President Securities Corp	$	379
	365,004		Provident Financial plc		17,363
	72,349	e	PSG Group Ltd		1,162
	128,527		PTC India Financial Services Ltd		89
	35,676		Pzena Investment Management, Inc (Class A)		318
	11,203		Qatar Industrial Manufacturing Co		129
	440,427		Ratos AB (B Shares)		2,657
	239,430		Raymond James Financial, Inc		11,883
	88,584	*	Regional Management Corp		1,373
	121,935		Reliance Capital Ltd		702
	29,546	*	Religare Enterprises Ltd		131
	585,775		Remgro Ltd		10,684
	27,860		Repco Home Finance Ltd		313
	54,197		Resource America, Inc (Class A)		360
	88,195	*	RHJ International		526
	16,000		Ricoh Leasing Co Ltd		434
	1,116,195	e	RMB Holdings Ltd		5,321
	908,000	*	Rowsley Ltd		110
	590,058		Rural Electrification Corp Ltd		2,472
	56,527	*	Safeguard Scientifics, Inc		878
	69,230		Salam International Investment Co		235
	161,287		Samsung Card Co		4,939
	70,942		Samsung Securities Co Ltd		2,738
	220,730		Santander Consumer USA Holdings, Inc		4,507
	292,600	*,e	Sawada Holdings Co Ltd		2,852
	257,744		SBI Holdings, Inc		2,912
	108,446		Schroders plc		4,608
	479,030		SEI Investments Co		23,104
	5	*,m	SFCG Co Ltd		0
	1,465,000	e	Shenyin Wanguo HK Ltd		595
	4,306		Shinyoung Securities Co Ltd		202
	907,537		Shriram Transport Finance Co Ltd		12,824
	562,015	*	SHUAA Capital PSC		87
	1,126,056		Singapore Exchange Ltd		5,571
	239,443	*	SK Securities Co Ltd		242
	97,908	*	SKS Microfinance Pvt Ltd		607
	1,189,844		SLM Corp		8,805
	768,475	*,e,m	SNS Reaal		9
	10,568		Societe Fonciere Financiere et de Participations FFP		716
	107,500	e	Sparx Group Co Ltd		261
	4,500	e	SPDR Trust Series 1		862
	115,934	*	Springleaf Holdings, Inc		5,069
	136,582	e	Sprott, Inc		243
	173,273		SREI Infrastructure Finance Ltd		117
	462,662		Srisawad Power 1979 PCL		470
	1,326,572		State Street Corp		89,159
	179,721	*	Stifel Financial Corp		7,566
	5,231,000		Sun Hung Kai & Co Ltd		3,590
	40,328		Sundaram Finance Ltd		943
	186,540	*	SVG Capital plc		1,319
	9,857		Swissquote Group Holding S.A.		216
	3,825,983	*,e	Synchrony Financial		119,753

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	235,800		T Rowe Price Group, Inc	$	16,388
	1,567,264		Tai Fook Securities Group Ltd		781
	395,000		Taiwan Acceptance Corp		889
	170,000	*,e	Takagi Securities Co Ltd		313
	98,843		Tamburi Investment Partners S.p.A.		377
	10,971		Tata Investment Corp Ltd		90
	325,976		TD Ameritrade Holding Corp		10,379
	77,291	e	Tiptree Financial, Inc		495
	53,136		TMX Group Ltd		1,866
	322,580		Tokai Tokyo Securities Co Ltd		1,921
	96,220	*	Tong Yang Investment Bank		350
	263,000		Toyo Securities Co Ltd		824
	195,880		Transaction Capital Ltd		141
	291,122	e	Tricon Capital Group, Inc		2,245
	595,398		Tullett Prebon plc		3,374
	8,399,498		UBS AG.		155,291
	1,519,754	*,e	Unifin Financiera SAPI de C.V. SOFOM ENR		3,469
	1,034,873	e	UOB-Kay Hian Holdings Ltd		1,058
	112,032	*,e	Uranium Participation Corp		416
	2,533,000	e	Value Partners Group Ltd		2,383
	45,386	e	Virtu Financial, Inc		1,040
	18,903		Virtus Investment Partners, Inc		1,900
	75,111		Vontobel Holding AG.		3,806
	100,292	*,e	Vostok New Ventures Ltd (SDR)		605
	1,341,993		Voya Financial, Inc		52,029
	347,093		Waddell & Reed Financial, Inc (Class A)		12,068
	97,077	*,e	Walter Investment Management Corp		1,578
	55,969		Warsaw Stock Exchange		562
	3,195,475		Waterland Financial Holdings		782
	28,099		Wendel		3,295
	20,529		Westwood Holdings Group, Inc		1,116
	496,894	e	WisdomTree Investments, Inc		8,015
	10,694		Woori Financial Co Ltd		213
	164,508		Woori Investment & Securities Co Ltd		1,391
	20,488	*,e	World Acceptance Corp		550
	10,153	*,e	ZAIS Group Holdings, Inc		96
	1,409,526		Zeder Investments Ltd		707
	92,200		Zenkoku Hosho Co Ltd		3,060
			TOTAL DIVERSIFIED FINANCIALS		3,888,702
ENERGY - 6.0%
	11,557		Aban Offshore Ltd		41
	251,835	*,e	Abraxas Petroleum Corp		322
	10,545		Adams Resources & Energy, Inc		432
	49,816,015		Adaro Energy Tbk		1,827
	1,101,347	*	Advantage Oil & Gas Ltd		5,752
	156,180	e	Akastor ASA		202
	636,091		Aker Solutions ASA		2,201
	82,723	e	Alon USA Energy, Inc		1,495
	123,932	e	AltaGas Income Trust		3,053
	72,879		AMEC plc		792
	1,014,227	*,e	Amerisur Resources plc		384

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,634,585		Anadarko Petroleum Corp	$	159,103
	71,483	*,e	Antero Resources Corp		1,513
	1,092,000	e	Anton Oilfield Services Group		143
	2,507,725		Apache Corp		98,203
	103,102	*,e	Approach Resources, Inc		193
	1,506,528	e	ARC Resources Ltd		19,914
	170,495		Ardmore Shipping Corp		2,060
	359,185	*,e	Athabasca Oil Corp		342
	252,700	e	Atwood Oceanics, Inc		3,742
	537,970	*,e	Australian Worldwide Exploration Ltd		237
	172,933	e,g	Avance Gas Holding Ltd		2,206
	2,551,355		Baker Hughes, Inc		132,773
	1,379,900		Bangchak Petroleum PCL-Foreign		1,306
	971,913	*	Bankers Petroleum Ltd		1,267
	1,535,800		Banpu PCL (Foreign)		847
	170,166	*,e	Basic Energy Services, Inc		562
	520,514	e	Baytex Energy Trust		1,665
	4,935,691		Beach Petroleum Ltd		1,595
	190,766	*,e	Bellatrix Exploration Ltd		292
	3,380,738		BG Group plc		48,770
	741,480		Bharat Petroleum Corp Ltd		9,621
	231,730	*,e	Bill Barrett Corp		765
	317,606	*	Birchcliff Energy Ltd		1,518
	318,531	*,e	BlackPearl Resources, Inc		227
	131,161	*,e	Bonanza Creek Energy, Inc		534
	188,482	e	Bonavista Energy Trust		434
	28,825	e	Bonterra Oil & Gas Ltd		421
	58,023	*	Boulder Energy Ltd		216
	25,741	e	Bourbon S.A.		324
	564,860	e	Boustead Singapore Ltd		298
	21,139,605		BP plc		107,249
	677,165	e	BP plc (ADR)		20,694
	3,807,000	*,e	Brightoil Petroleum Holdings Ltd		1,347
	176,925		Bristow Group, Inc		4,628
	3,174,374		Bumi Armada BHD		670
	337,259	e,g	BW LPG Ltd		2,102
	327,134	e	BW Offshore Ltd		132
	703,623	*,e	C&J Energy Services Ltd		2,477
	645,378		Cabot Oil & Gas Corp		14,108
	568,443	*	Cairn Energy plc		1,207
	1,056,368		Cairn India Ltd		2,482
	291,291	e	Calfrac Well Services Ltd		679
	614,444		California Resources Corp		1,598
	841,612	*	Callon Petroleum Co		6,135
	402,606		Caltex Australia Ltd		8,887
	359,529	e	Cameco Corp (Toronto)		4,383
	458,305	*	Cameron International Corp		28,103
	175,267	*,e	Canacol Energy Ltd		343
	612,861	e	Canadian Energy Services & Technology Corp		2,834
	1,767,976		Canadian Natural Resources Ltd (Canada)		34,432
	281,200		Canadian Oil Sands Trust		1,330
	257,272	e	Canyon Services Group, Inc		887

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	232,313		Capital Product Partners LP	$	1,431
	53,689	e	CARBO Ceramics, Inc		1,020
	207,771	e	Cardinal Energy Ltd		1,386
	188,064	*	Carrizo Oil & Gas, Inc		5,743
	544,000	e	Cenovus Energy, Inc		8,247
	1,462,950		Cenovus Energy, Inc (Toronto)		22,188
	505,912	*	Cheniere Energy, Inc		24,436
	656,110	e	Chesapeake Energy Corp		4,809
	5,590,114		Chevron Corp		440,948
	5,431,906	e	China Coal Energy Co		2,204
	4,417,826	e	China Oilfield Services Ltd		4,453
	4,348,787		China Shenhua Energy Co Ltd		6,679
	5,497,000	e	China Suntien Green Energy Cor		975
	398,000	*	Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd		61
	469,225		Cimarex Energy Co		48,086
	16,311	*,e	Clayton Williams Energy, Inc		633
	196,203	*,e	Clean Energy Fuels Corp		883
	182,346	*,e	Cloud Peak Energy, Inc		480
	34,389,948		CNOOC Ltd		35,409
	1,584,578		Coal India Ltd		7,925
	567,010	*	Cobalt International Energy, Inc		4,014
	546,085		Columbia Pipeline Group, Inc		9,988
	722,648	*,e	Compagnie Generale de Geophysique S.A.		2,497
	2,000,206	*	Concho Resources, Inc		196,620
	1,964,577		ConocoPhillips		94,221
	342,435	e	Consol Energy, Inc		3,356
	186,109	*	Contango Oil & Gas Co		1,414
	2,051,261	*,e	Continental Resources, Inc		59,425
	79,529	e	Core Laboratories NV		7,937
	481,228		Cosan SA Industria e Comercio		2,443
	545,000	m	Cosmo Oil Co Ltd		745
	292,835	e	Crescent Point Energy Corp		3,351
	135,611	*	Crew Energy, Inc		415
	95,835	e	CVR Energy, Inc		3,934
	10,015,719	*	Dana Gas PJSC		1,502
	248,650		Dayang Enterprise Holdings BHD		95
	5,785		Delek Group Ltd		1,265
	223,434		Delek US Holdings, Inc		6,189
	2,152,176	e	Denbury Resources, Inc		5,251
	478,621	*,e	Denison Mines Corp		179
	582,752	*,e	Det Norske Oljeselskap ASA		3,257
	660,064		Devon Energy Corp		24,482
	587,537		DHT Holdings, Inc		4,360
	74,211	e	Diamond Offshore Drilling, Inc		1,284
	1,682,233	*,e	Diamondback Energy, Inc		108,672
	628,315	*,e	DNO International ASA		666
	66,810	*	Dorian LPG Ltd		689
	398,174	*,e	Drillsearch Energy Ltd		137
	75,684	*	Dril-Quip, Inc		4,406
	865	*,e	Earthstone Energy, Inc		13
	127,588	*,e	Eclipse Resources Corp		249
	10,218,820		Ecopetrol S.A.		4,402

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	640,683		Empresas COPEC S.A.	$	5,813
	69,681	e	Enbridge Income Fund		1,635
	1,066,336		Enbridge, Inc		39,593
	567,945		EnCana Corp		3,656
	77,574		Enerflex Ltd		767
	807,202		Energen Corp		40,247
	997,800		Energy Absolute PCL (Foreign)		592
	1,168,600		Energy Earth PCL		161
	118,273	*,e	Energy Fuels, Inc		344
	1,199,319	*,e	Energy Resources of Australia Ltd		270
	311,757	e	Enerplus Resources Fund		1,518
	2,498,311	e	ENI S.p.A.		39,299
	702,357	*,e	Enquest plc (London)		295
	375,397		Ensco plc		5,286
	147,707		Ensign Energy Services, Inc		909
	3,681,295		EOG Resources, Inc		267,998
	55,866	*,e	EP Energy Corp		288
	377,105		EQT Corp		24,425
	54,517	*	Era Group, Inc		816
	49,895		ERG S.p.A.		698
	8,409	*,e	Erin Energy Corp		33
	2,755	*	Esso SA Francaise		191
	968,500	*	Esso Thailand PCL (Foreign)		137
	74,654	*,e	Etablissements Maurel et Prom		277
	122,449	e	Euronav NV		1,713
	52,199	e	Evolution Petroleum Corp		290
	27,073	e	Exmar NV		251
	209,434		Exterran Holdings, Inc		3,770
	280,347	e	Exxaro Resources Ltd		1,066
	12,197,579	d	Exxon Mobil Corp		906,890
	1,205,560	e	Ezion Holdings Ltd		554
	7,392,083	e	Ezra Holdings Ltd		611
	171,242	*,e	Fairmount Santrol Holdings, Inc		462
	233,657	*	Faroe Petroleum plc		237
	555,110	*	FMC Technologies, Inc		17,208
	1,809,306		Formosa Petrochemical Corp		4,318
	158,221	*	Forum Energy Technologies, Inc		1,932
	475,884	e	Frank’s International NV		7,295
	47,106	e	Fred Olsen Energy ASA		246
	242,375	e	Freehold Royalty Trust		1,965
	345,369	*,e	Frontline Ltd		929
	67,084	e	Fugro NV		1,185
	721,311		Galp Energia SGPS S.A.		7,118
	147,001	e	GasLog Ltd		1,414
	217,959	*,e	Gastar Exploration, Inc		251
	9,157,325		Gazprom OAO (ADR)		36,944
	95,099		Gazpromneft OAO (ADR)		1,050
	33,114	e	Gaztransport Et Technigaz S.A.		1,718
	40,366	*	Gener8 Maritime, Inc		442
	9,290,000	*,e	Genesis Energy Holdings Ltd		205
	34,008	*,e	Geospace Technologies Corp		470
	701,202	e	Gibson Energy, Inc		8,791

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	148,324	e	Golar LNG Ltd	$	4,135
	60,000	*,e	Gran Tierra Energy, Inc		128
	117,532		Great Eastern Shipping Co Ltd		663
	101,473		Green Plains Renewable Energy, Inc		1,975
	298,342	*	Grupa Lotos S.A.		2,194
	89,446		GS Holdings Corp		3,451
	131,044		Gujarat Mineral Development Corp Ltd		143
	60,277		Gulf International Services OSC		1,079
	14,100		Gulf Island Fabrication, Inc		148
	942,945	*,e	Gulf Keystone Petroleum Ltd		456
	147,742	e	Gulfmark Offshore, Inc		903
	156,749	*	Gulfport Energy Corp		4,652
	1,270,103	*,e	Halcon Resources Corp		673
	42,923	e	Hallador Petroleum Co		298
	2,582,448		Halliburton Co		91,290
	656		Hankook Shell Oil Co Ltd		286
	273,773	*	Helix Energy Solutions Group, Inc		1,311
	50,881		Hellenic Petroleum S.A.		306
	291,119	e	Helmerich & Payne, Inc		13,758
	1,088,703		Hess Corp		54,500
	2,335,000	e	Hilong Holding Ltd		477
	110,741		Hindustan Petroleum Corp Ltd		1,306
	40,381		Hoegh LNG Holdings Ltd		546
	644,491		HollyFrontier Corp		31,477
	1,737,000	e	Honghua Group Ltd		134
	85,369	*,e	Hornbeck Offshore Services, Inc		1,155
	127,594		Hunting plc		774
	438,140	e	Husky Energy, Inc		6,832
	571,500	*	Icon Offshore BHD		44
	153,694	e	Idemitsu Kosan Co Ltd		2,354
	697,212	e	Imperial Oil Ltd		22,089
	41,594	*,e	Independence Contract Drilling, Inc		207
	1,800,059		Inner Mongolia Yitai Coal Co		1,466
	1,529,802		Inpex Holdings, Inc		13,678
	683,255	e	Inter Pipeline Ltd		12,605
	756,168	*,e	ION Geophysical Corp		295
	1,961,673	*	Ipek Matbacilik Sanayi Ve Ticaret AS		1,239
	18,096,907		IRPC PCL (Foreign)		1,882
	2,440	*,e	Isramco, Inc		242
	47,253		Itochu Enex Co Ltd		359
	6,100	e	Japan Drilling Co Ltd		130
	90,800	e	Japan Petroleum Exploration Co		2,399
	1,031,411		John Wood Group plc		9,615
	71,789	*,e	Jones Energy, Inc (Class A)		344
	2,949,148		JX Holdings, Inc		10,649
	211,403	*,e	Karoon Gas Australia Ltd		248
	144,655	*	Kelt Exploration Ltd		619
	267	*,e	Key Energy Services, Inc		0	^
	584,300	e	Keyera Corp		16,091
	4,440,129	e	Kinder Morgan, Inc		122,903
	1,463,624	*	KNM Group BHD		157
	60,624		Koninklijke Vopak NV		2,424

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	243,718	*	Kosmos Energy LLC	$	1,360
	399,020	*,e	KrisEnergy Ltd		101
	633,248	*,e	Laredo Petroleum Holdings, Inc		5,972
	478,682	*,e	Liquefied Natural Gas Ltd		437
	46,493		Lubelski Wegiel Bogdanka S.A.		695
	1,017,425		LUKOIL (ADR)		34,654
	288,118	*,e	Lundin Petroleum AB		3,718
	1,388,025		Marathon Oil Corp		21,376
	1,807,185		Marathon Petroleum Corp		83,727
	2,094,344	*,e	Matador Resources Co		43,437
	148,362	*	Matrix Service Co		3,334
	100,688	e	Maurel & Prom Nigeria		248
	767,418	*,e	McDermott International, Inc		3,300
	806,436	*	MEG Energy Corp		4,979
	114,769	*	Memorial Resource Development Corp		2,018
	910,000		MIE Holdings Corp		97
	39,500	e	Modec, Inc		481
	61,629		MOL Hungarian Oil and Gas plc		2,686
	108,370		Motor Oil Hellas Corinth Refineries S.A.		1,310
	183,542	e	Mullen Group Ltd		2,455
	359,676		Murphy Oil Corp		8,704
	4,202,709		Nabors Industries Ltd		39,716
	38,730	*	Naphtha Israel Petroleum Corp Ltd		204
	519,280		National Oilwell Varco, Inc		19,551
	32,556	*	Natural Gas Services Group, Inc		628
	363,811	e	Navios Maritime Acq Corp		1,281
	225,765		Neste Oil Oyj		5,196
	1,810,000	e	New Zealand Oil & Gas Ltd		488
	53,811	e	Newalta, Inc		371
	472,246	*,e	Newfield Exploration Co		15,537
	15,380,000	e	Newocean Energy Holdings Ltd		5,811
	237,138	*	Newpark Resources, Inc		1,214
	164,500		Nippon Coke & Engineering Co Ltd		139
	26,700	*,e	Nippon Gas Co Ltd		760
	1,095,347	e	Noble Corp plc		11,950
	517,436		Noble Energy, Inc		15,616
	80,496	e	Nordic American Offshore Ltd		483
	268,290	e	Nordic American Tanker Shipping		4,078
	133,821	e	North Atlantic Drilling Ltd		103
	33,496	e	Northern Blizzard Resources, Inc		104
	171,500	*,e	Northern Oil And Gas, Inc		758
	228,840		NovaTek OAO (GDR)		21,231
	148,748	*	NuVista Energy Ltd		563
	484,830	*,e	Oasis Petroleum, Inc		4,208
	2,853,873		Occidental Petroleum Corp		188,784
	149,634		Ocean Yield ASA		1,142
	477,137		Oceaneering International, Inc		18,742
	277,313		Oil India Ltd		1,792
	1,168,848	*	Oil Refineries Ltd		429
	837,387		Oil Search Ltd		4,252
	191,243	*	Oil States International, Inc		4,997
	61,324	e	OMV AG.		1,492

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	441,902		Oneok, Inc	$	14,229
	641,702	*	Ophir Energy plc		875
	495,156	m	Origin Energy Ltd		2,167
	380,000		Pacc Offshore Services Holdings Ltd		86
	79,818	*,e	Pacific Ethanol, Inc		518
	473,767	*,e	Pacific Exploration and Production Corp		1,058
	174,000	e	Pacific Radiance Ltd		39
	96,770	*	Painted Pony Petroleum Ltd		396
	1,522,181	*,e	Paladin Resources Ltd		183
	57,418	e	Panhandle Oil and Gas, Inc (Class A)		928
	73,445	*,e	Par Petroleum Corp		1,530
	31,575	*,e	Paramount Resources Ltd (Class A)		233
	184,608	*	Parex Resources, Inc		1,280
	660,062	*,e	Parker Drilling Co		1,736
	217,646	e	Parkland Fuel Corp		3,728
	874,514	*,e	Parsley Energy, Inc		13,179
	163,622		Pason Systems, Inc		2,300
	1,327,339		Patterson-UTI Energy, Inc		17,441
	13,896		Paz Oil Co Ltd		2,064
	406,076	e	PBF Energy, Inc		11,464
	132,739	*,e	PDC Energy, Inc		7,036
	856	e	Peabody Energy Corp		1
	746,085	e	Pembina Pipeline Income Fund		17,952
	533,813	e	Pengrowth Energy Trust		456
	592,704	e	Penn West Energy Trust		266
	69,140	e	Petrofac Ltd		805
	4,776,799		Petroleo Brasileiro S.A.		10,290
	7,834,382		Petroleo Brasileiro S.A. (Preference)		14,307
	862,724	e	Petroleum Geo-Services ASA		3,321
	940,359		Petronas Dagangan BHD		4,678
	435,856	e	Peyto Exploration & Development Corp		9,063
	37,814	*	PHI, Inc		714
	1,149,381		Phillips 66		88,318
	828,681	*	Pioneer Energy Services Corp		1,740
	1,190,083		Pioneer Natural Resources Co		144,762
	5,174,973		Polish Oil & Gas Co		8,896
	663,891		Polski Koncern Naftowy Orlen S.A.		11,591
	100,100	*,m	Poseidon Concepts Corp		1
	248,762	e	PrairieSky Royalty Ltd		4,727
	332,203	e	Precision Drilling Trust		1,230
	530,300		Premier Oil plc		536
	257,011	e	ProSafe ASA		716
	18,445,700		PT Benakat Petroleum Energy		90
	2,553,000		PT Elnusa		58
	31,075,400	*	PT Energi Mega Persada Tbk		108
	1,032,850	*	PT Golden Eagle Energy Tbk		48
	3,699,800		PT Harum Energy Indonesia Tbk		214
	1,160,200		PT Indo Tambangraya Megah		786
	18,281,400	*	PT Sugih Energy Tbk		484
	3,654,759		PT Tambang Batubara Bukit Asam Tbk		1,408
	1,434,600		PTT Exploration & Production PCL (ADR)		2,779
	4,396,084		PTT Exploration & Production PCL (Foreign)		8,517

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	285,000		PTT PCL (ADR)	$	1,893
	3,146,019		PTT PCL (Foreign)		20,887
	339,900		QGEP Participacoes S.A.		525
	307,398		Questar Market Resources, Inc		3,852
	543,851	*	Raging River Exploration, Inc		3,004
	242,099	e	Range Resources Corp		7,776
	2,493,561		Reliance Industries Ltd		32,814
	144,794	*	Renewable Energy Group, Inc		1,199
	656,257		Repsol YPF S.A.		7,654
	146,289	*,e	Rex Energy Corp		303
	725,000	*,e	Rex International Holding Ltd		42
	15,855	*,e	Rex Stores Corp		803
	102,718	*,e	Rice Energy, Inc		1,660
	30,303	*,e	RigNet, Inc		773
	57,744	*,e	Ring Energy, Inc		570
	169,205	*	RMP Energy Inc		161
	310,568	*,e	Rockhopper Exploration plc		187
	1,688,044		Rosneft Oil Co (GDR)		6,247
	529,052		Rowan Cos plc		8,544
	6,825,769		Royal Dutch Shell plc (A Shares)		161,136
	3,736,590		Royal Dutch Shell plc (B Shares)		88,353
	896,947	e	RPC, Inc		7,938
	4,094,511	*,e	RSP Permian, Inc		82,914
	230,211	*,e	Saipem S.p.A.		1,846
	108,000		San-Ai Oil Co Ltd		738
	142,389	*,e	Sanchez Energy Corp		876
	1,494,485	e	Santos Ltd		4,229
	4,238,518		Sapurakencana Petroleum BHD		1,819
	252,620	*,e	Saras S.p.A.		537
	1,162,505	e	Sasol Ltd		32,565
	181,248	*,e	SBM Offshore NV		2,301
	3,713,988		Schlumberger Ltd		256,154
	11,986	e	Schoeller-Bleckmann Oilfield Equipment AG.		677
	814,600	*	Scomi Energy Services BHD		49
	818,882		Scorpio Tankers, Inc		7,509
	61,902	*,e	SEACOR Holdings, Inc		3,702
	333,474	e	Seadrill Ltd		1,967
	302,359	e	Seadrill Ltd (Oslo Exchange)		1,766
	131,941	e	Secure Energy Services, Inc		888
	222,013		SemGroup Corp		9,600
	972,670	*,e	Senex Energy Ltd		104
	50	*,m	Serval Integrated Energy Services		0
	149,046	*,e	Seventy Seven Energy, Inc		206
	241,600	*	Shandong Molong Petroleum Machinery Co Ltd		81
	97,042	*	Shanxi Guoxin Energy Corp Ltd		121
	64,622		ShawCor Ltd		1,355
	39,200		Shinko Plantech Co Ltd		319
	152,270	e	Ship Finance International Ltd		2,474
	96,858		Showa Shell Sekiyu KK		764
	232,800		Siamgas & Petrochemicals PCL (Foreign)		69
	91,000		Sinanen Co Ltd		337
	838,000		Sinopec Kantons Holdings Ltd		432

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	88,265		SK Energy Co Ltd	$	7,351
	20,809		SK Gas Co Ltd		1,495
	217,367	e	Soco International plc		520
	62,035		S-Oil Corp		3,301
	1,216,558	*	Southwestern Energy Co		15,438
	245,277	*,e	Spartan Energy Corp		419
	1,546,492		Spectra Energy Corp		40,626
	822,000	e	SPT Energy Group, Inc		75
	135,678	e	St. Mary Land & Exploration Co		4,347
	5,323,894	*	Statoil ASA		77,617
	426,207	e	Stobart Group Ltd		722
	162,725	*,e	Stone Energy Corp		807
	427,757	e	Subsea 7 S.A.		3,220
	1,983,738		Suncor Energy, Inc		53,053
	1,540,830		Superior Energy Services		19,461
	262,956	e	Surge Energy, Inc		532
	2,689,396		Surgutneftegaz (ADR)		13,762
	284,500		Surgutneftegaz (ADR) (London)		1,442
	298,001	*,e	Synergy Resources Corp		2,920
	426,347		Targa Resources Investments, Inc		21,965
	482,272		Tatneft (GDR)		13,524
	348,007		Technip S.A.		16,469
	198,139	e	Tecnicas Reunidas S.A.		8,775
	88,120		Teekay Corp		2,612
	250,202	e	Teekay Tankers Ltd (Class A)		1,726
	396,466		Tenaris S.A.		4,766
	111,093		Tesco Corp		793
	389,426		Tesoro Corp		37,868
	115,687		Tethys Oil AB		615
	425,534	*	Tetra Technologies, Inc		2,515
	363,125	e	TGS Nopec Geophysical Co ASA		6,713
	1,682,557		Thai Oil PCL (Foreign)		2,453
	124,137	e	Tidewater, Inc		1,631
	120,091		TMK OAO (GDR)		371
	446,848		TonenGeneral Sekiyu KK		4,330
	130,337	e	TORC Oil & Gas Ltd		548
	54,377		Total Energy Services, Inc		595
	4,192,412	*,e	Total S.A.		188,587
	305,845	*	Tourmaline Oil Corp		7,121
	323,000		Toyo Kanetsu K K		514
	94,933	*,e	TransAtlantic Petroleum Ltd		241
	1,836,490	e	TransCanada Corp		58,074
	225,227		TransGlobe Energy Corp		589
	266,670	e	Transocean Ltd		3,440
	121,952	*,e	Triangle Petroleum Corp		173
	169,320		Trican Well Service Ltd		86
	71,519	e	Trilogy Energy Corp		182
	647,802	e	Trinidad Drilling Ltd		1,073
	761,611	e	Tullow Oil plc		1,958
	343,643		Tupras Turkiye Petrol Rafine		8,423
	401,061	*,e	Ultra Petroleum Corp		2,563
	478,593		Ultrapar Participacoes S.A.		8,064

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	278,279	*	Unit Corp	$	3,133
	336,729	*,e	Uranium Energy Corp		337
	142,700	e	US Silica Holdings Inc		2,011
	1,708,279		Valero Energy Corp		102,668
	403,473	e	Veresen, Inc		3,084
	57,747	e	Vermilion Energy, Inc		1,859
	206,980	e	W&T Offshore, Inc		621
	4,657,840		Wah Seong Corp BHD		1,285
	2,920,689	*,e	Weatherford International Ltd		24,767
	162,313	e	Western Energy Services Corp		625
	331,448		Western Refining, Inc		14,623
	48,133	*,e	Westmoreland Coal Co		678
	1,166,603	e	Whitecap Resources, Inc		9,214
	675,199	*,e	Whitehaven Coal Ltd		429
	288,849	*	Whiting Petroleum Corp		4,411
	2,223,419		Williams Cos, Inc		81,933
	880,000	*	Wison Engineering Services Co Ltd		129
	1,550,116		Woodside Petroleum Ltd		31,725
	155,149		World Fuel Services Corp		5,554
	35,954	e	WorleyParsons Ltd		151
	1,474,018	*	WPX Energy, Inc		9,758
	4,860,000	*,e	Yanchang Petroleum International Ltd		142
	3,428,861	e	Yanzhou Coal Mining Co Ltd		1,526
	648,160	e	Z Energy Ltd		2,747
			TOTAL ENERGY		6,572,051
FOOD & STAPLES RETAILING - 2.0%
	1,322,700		7-Eleven Malaysia Holdings BHD		445
	207,726		Aeon Co Ltd		3,223
	18,800		Ain Pharmaciez Inc		960
	15,504		Al Meera Consumer Goods Co		1,065
	1,099,148		Alimentation Couche Tard, Inc		50,547
	324,433		Almacenes Exito S.A.		1,393
	75,211		Andersons, Inc		2,562
	121,979		Arcs Co Ltd		2,298
	216,186		Axfood AB		3,571
	8,300		Belc Co Ltd		283
	27,987		BGF retail Co Ltd		4,780
	242,038		BIM Birlesik Magazalar AS		4,292
	27,122		Bizim Toptan Satis Magazalari AS		114
	3,461,395		Booker Group plc		9,695
	675,535		Carrefour S.A.		20,020
	99,341		Casey’s General Stores, Inc		10,224
	98,914		Casino Guichard Perrachon S.A.		5,268
	60,300	e	Cawachi Ltd		989
	4,518,779		Centros Comerciales Sudamericanos S.A.		8,798
	50,113	*,e	Chefs’ Warehouse Holdings, Inc		710
	2,105,222		China Resources Enterprise		3,917
	186,241		Cia Brasileira de Distribuicao Grupo Pao de Acucar		2,363
	14,658		CJ Freshway Corp		971
	436,451		Clicks Group Ltd		2,832
	36,160		Cocokara Fine Holdings, Inc		1,334

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	40,632	e	Colruyt S.A.	$	1,958
	1,009,212		Controladora Comercial Mexicana S.A. de C.V.		2,931
	7,426,600		Cosco Capital, Inc		1,078
	8,900	e	Cosmos Pharmaceutical Corp		1,047
	1,413,546		Costco Wholesale Corp		204,356
	9,164,109		CP Seven Eleven PCL (Foreign)		12,104
	31,700		Create SD Holdings Co Ltd		1,740
	5,121,929		CVS Health Corp		494,164
	6,900		Daikokutenbussaan Co Ltd		237
	339,241		Delhaize Group		30,071
	2,211,085	e	Distribuidora Internacional de Alimentacion S.A.		13,385
	35,084		Dongsuh Co, Inc		1,089
	23,433		E-Mart Co Ltd		4,572
	211,326		Empire Co Ltd		4,347
	87,786		Eurocash S.A.		1,034
	20,051	*,e	Fairway Group Holdings Corp		21
	253,191		FamilyMart Co Ltd		11,544
	153,363	*,e	Fresh Market, Inc		3,464
	63,040		George Weston Ltd		5,100
	289,358		Greggs plc		4,756
	21,100	*	Growell Holdings Co Ltd		1,023
	683,713	e	Grupo Comercial Chedraui S.a. DE C.V.		1,782
	67,200		Heiwado Co Ltd		1,473
	38,445		Hyundai Greenfood Co Ltd		833
	308,265	e	ICA Gruppen AB		10,436
	3,032	*	Indiabulls Wholesale Service		1
	37,544		Ingles Markets, Inc (Class A)		1,796
	8,300		Itochu-Shokuhin Co Ltd		273
	2,984,538	e	J Sainsbury plc		11,803
	99,317		Jean Coutu Group PJC, Inc		1,497
	763,203		Jeronimo Martins SGPS S.A.		10,300
	19,900	e	Kato Sangyo Co Ltd		432
	176,870		Kesko Oyj (B Shares)		6,265
	14,200	*,e	Kobe Bussan Co Ltd		1,287
	2,172,200		Koninklijke Ahold NV		42,375
	4,955,720		Kroger Co		178,753
	13,800		Kusuri No Aoki Co Ltd		730
	360,214		Lawson, Inc		26,578
	265,855	*	Lenta Ltd (ADR)		1,994
	1,723,000	*,e	Lianhua Supermarket Holdings Co Ltd		800
	68,743	e	Liquor Stores Income Fund		564
	240,372		Loblaw Cos Ltd		12,376
	415,890		Magnit OAO (GDR)		19,895
	68,609		Majestic Wine plc		391
	110,238		MARR S.p.A.		2,093
	113,881		Massmart Holdings Ltd		891
	36,600		Matsumotokiyoshi Holdings Co Ltd		1,624
	4,159,457	e	Metcash Ltd		3,088
	349,118		Metro AG.		9,659
	581,051	e	Metro, Inc		15,831
	61,300		Ministop Co Ltd		1,393
	25,206	*,e	Natural Grocers by Vitamin C		572

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	123,124	e	North West Co Fund	$	2,598
	55,000	e	Okuwa Co Ltd		452
	235,000	e	Olam International Ltd		335
	427,713		Pick’n Pay Holdings Ltd		873
	520,470	e	Pick’n Pay Stores Ltd		2,496
	651,980		President Chain Store Corp		4,066
	50,702	e	Pricesmart, Inc		3,921
	1,124,500		PT Matahari Putra Prima Tbk		148
	22,000,000		PT Modern Internasional Tbk		278
	231,353		Raia Drogasil S.A.		2,282
	23,486	e	Rallye S.A.		384
	5,662		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		242
	3,685,978	*	Rite Aid Corp		22,374
	2,804,280		Robinsons Retail Holdings, Inc		4,386
	13,379	e	Ryoshoku Ltd		305
	15,900		San-A Co Ltd		699
	953,897		Seven & I Holdings Co Ltd		43,529
	2,180,500		Sheng Siong Group Ltd		1,266
	593,416		Shoprite Holdings Ltd		6,739
	66,106		Shufersal Ltd		157
	113,948	*	Smart & Final Stores, Inc		1,790
	2,226,067	e	Sonae SPGS S.A.		2,745
	396,241	e	Spar Group Ltd		5,301
	165,899		Spartan Stores, Inc		4,289
	1,659,036	*,e	Sprouts Farmers Market, Inc		35,006
	37,500		Sugi Pharmacy Co Ltd		1,683
	8,596,383	e	Sun Art Retail Group Ltd		6,612
	49,700		Sundrug Co Ltd		2,616
	1,563,156	*	Supervalu, Inc		11,223
	897,404		Sysco Corp		34,972
	560,000		Taiwan TEA Corp		239
	23,692,249		Tesco plc		65,807
	47,976		Tsuruha Holdings, Inc		4,135
	142,524	*	United Natural Foods, Inc		6,914
	148,100	*,e	United Super Markets Holdings, Inc		1,248
	246,700		UNY Co Ltd		1,552
	132,900		Valor Co Ltd		3,331
	16,965		Village Super Market (Class A)		401
	2,280,960		Walgreens Boots Alliance, Inc		189,548
	6,575,996		Wal-Mart de Mexico SAB de C.V.		16,147
	3,634,073	e	Wal-Mart Stores, Inc		235,633
	44,731		Weis Markets, Inc		1,868
	1,466,863		Wesfarmers Ltd		40,549
	739,314		Whole Foods Market, Inc		23,399
	2,691,648	e	WM Morrison Supermarkets plc		6,773
	1,478,820	e	Woolworths Ltd		25,922
	493,999	*	Wumart Stores, Inc		200
	229,829	*	X 5 Retail Group NV (GDR)		4,007
	16,000		Yaoko Co Ltd		723
	36,700	e	Yokohama Reito Co Ltd		289
			TOTAL FOOD & STAPLES RETAILING		2,142,912

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
FOOD, BEVERAGE & TOBACCO - 5.2%
	28,844		AarhusKarlshamn AB	$	1,873
	22,549	*	Advanta Ltd		183
	49,275	e	AGT Food & Ingredients, Inc		957
	298,626		Agthia Group PJSC		653
	1,294,885		Ajinomoto Co, Inc		27,307
	9,277	e	Alico, Inc		377
	7,712,342		Altria Group, Inc		419,552
	8,454,408		AMBEV S.A.		41,414
	35,409	*	Amplify Snack Brands, Inc		379
	42,597		Amsterdam Commodities NV		976
	241,962		Anadolu Efes Biracilik Ve Malt Sanayii AS		1,708
	465,621		Anheuser-Busch InBev NV		49,521
	2,974	*,m	Anheuser-Busch InBev NV (Strip VVPR)		0
	333,500		Anhui Gujing Distillery Co Ltd		885
	5,429	*,e	Arcadia Biosciences, Inc		17
	1,877,245		Archer Daniels Midland Co		77,812
	18,100		Ariake Japan Co Ltd		709
	47,377		Aryzta AG.		2,008
	506,244		Asahi Breweries Ltd		16,424
	1,989,501		Associated British Foods plc		100,687
	87,753		Astral Foods Ltd		1,103
	9,938		Atria Group plc		86
	326,250		Ausnutria Dairy Corp Ltd		101
	236,861		Austevoll Seafood ASA		1,475
	367,676	*,e	Australian Agricultural Co Ltd		336
	669,788		AVI Ltd		4,237
	196,699		B&G Foods, Inc (Class A)		7,170
	122,527		Bakkafrost P		3,916
	2,506	e	Barry Callebaut AG.		2,729
	108,482	e	Bega Cheese Ltd		362
	32,027	*,e	Belvedere S.A.		697
	5,396		Binggrae Co Ltd		344
	166,799	e	Biostime Internatonal Holdings Ltd		321
	1,323,178	*,e	Blue Buffalo Pet Products, Inc		23,698
	24,264		Bonduelle S.C.A.		624
	23,310	*,e	Boston Beer Co, Inc (Class A)		4,909
	183,584	*,e	Boulder Brands, Inc		1,504
	540,700		Boustead Plantations BHD		169
	1,357,548		BRF S.A.		24,172
	281,848		British American Tobacco Malaysia BHD		3,870
	3,799,432		British American Tobacco plc		209,636
	5,832,134		Britvic plc		59,937
	43,174	e	Brown-Forman Corp		4,619
	373,822		Brown-Forman Corp (Class B)		36,223
	337,600	e	Bumitama Agri Ltd		190
	605,387		Bunge Ltd		44,375
	334,179		C&C Group plc		1,326
	38,669		Calavo Growers, Inc		1,726
	112,674		Calbee, Inc		3,646
	81,329	e	Cal-Maine Foods, Inc		4,441
	439,801	e	Campbell Soup Co		22,289

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	168,300		Carabao Group PCL	$	180
	47,738		Carlsberg AS (Class B)		3,668
	301,800		Carlsberg Brewery-Malay BHD		821
	162,152	*,e	Castle Brands, Inc		214
	2,524,300		Century Pacific Food, Inc		890
	651,000	e	Changshouhua Food Co Ltd		351
	2,203,400		Charoen Pokphand Foods PCL		1,259
	3,343,611	*,e	China Agri-Industries Holdings Ltd		1,151
	7,433,296	e	China Huishan Dairy Holdings Co Ltd		2,686
	699,000	*	China Huiyuan Juice Group Ltd		263
	1,698,360		China Mengniu Dairy Co Ltd		5,989
	1,881,000	e	China Modern Dairy Holdings		576
	1,317,000	*,e	China Yurun Food Group Ltd		302
	345,324		Cia Cervecerias Unidas S.A.		3,808
	9,305		CJ CheilJedang Corp		2,998
	28,629		Clearwater Seafoods, Inc		218
	219,978	*	Cloetta AB		629
	280,276		Clover Industries Ltd		376
	604,056		Coca-Cola Amatil Ltd		3,829
	17,035	e	Coca-Cola Bottling Co Consolidated		3,294
	290,398	e	Coca-Cola Central Japan Co Ltd		4,692
	10,021,356		Coca-Cola Co		402,057
	380,882		Coca-Cola Embonor S.A.		623
	636,570		Coca-Cola Enterprises, Inc		30,778
	1,180,720	e	Coca-Cola Femsa S.A. de C.V.		8,208
	92,960	e	Coca-Cola Femsa SAB de C.V. (ADR)		6,450
	285,802		Coca-Cola HBC AG.		6,050
	397,681		Coca-Cola Icecek AS		4,551
	254,400		Coca-Cola West Japan Co Ltd		4,960
	816,000	*	Cofco International Ltd		419
	1,815,753		ConAgra Foods, Inc		73,556
	620,994		Constellation Brands, Inc (Class A)		77,755
	58,140		Corbion NV		1,335
	149,867		Cott Corp		1,619
	25,297	*,e	Craft Brewers Alliance, Inc		202
	3,649		Crown Confectionery Co Ltd		2,454
	2,921		Dae Han Flour Mills Co Ltd		520
	43,066		Daesang Corp		1,123
	135,083	e	Dairy Crest Group plc		1,244
	665,384	*	Darling International, Inc		7,479
	286,461		Davide Campari-Milano S.p.A.		2,282
	596,373		Dean Foods Co		9,852
	381,373	*,e	Deoleo S.A.		117
	234,477		Devro plc		1,046
	3,427,583		Diageo plc		92,089
	118,277	*	Diamond Foods, Inc		3,650
	4,093		Dongwon F&B Co Ltd		1,389
	1,371		Dongwon Industries Co Ltd		410
	895,152		Dr Pepper Snapple Group, Inc		70,762
	7,700		Dydo Drinco, Inc		328
	1,214,000	*,e,m	Dynasty Fine Wines Group Ltd		2
	117,712	e	Ebro Puleva S.A.		2,312

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	775,537		Embotelladora Andina S.A.	$	2,688
	1,163,233	e	Embotelladoras Arca SAB de C.V.		6,549
	5,282		Emmi AG.		2,206
	60,500		Ezaki Glico Co Ltd		2,796
	27,302	*	Farmer Bros Co		744
	10,826	*	Farmsco		160
	2,281,799		Felda Global Ventures Holdings BHD		779
	82,229		Fevertree Drinks plc		536
	881,800	e	First Resources Ltd		1,016
	421,451		Flowers Foods, Inc		10,427
	2,928,130		Fomento Economico Mexicano S.A. de C.V.		26,202
	133,250	e	Fonterra Shareholders’ Fund		464
	84,540		Fresh Del Monte Produce, Inc		3,340
	56,902	*,e	Freshpet, Inc		597
	65,173		Fuji Oil Co Ltd		846
	16,832		Fujicco Co Ltd		342
	116,000	e	Fujiya Co Ltd		185
	1,985,566		General Mills, Inc		111,450
	229,314		Genting Plantations BHD		516
	1,877,700		GFPT PCL (Foreign)		500
	195,134		Glanbia plc		3,632
	8,450		GlaxoSmithKline Consumer Healthcare Ltd		779
	19,980,054	e	Golden Agri-Resources Ltd		4,644
	188,601	e	GrainCorp Ltd-A		1,204
	1,379,272		Great Wall Enterprise Co		760
	419,554		Greencore Group plc		1,735
	643,023		Groupe Danone		40,590
	933,000		Gruma SAB de C.V.		12,959
	2,691,843	e	Grupo Bimbo S.A. de C.V. (Series A)		6,817
	697,145	e	Grupo Herdez SAB de C.V.		1,844
	1,347,300		Grupo Lala SAB de C.V.		3,183
	310,126	*,e	Hain Celestial Group, Inc		16,002
	27,493	*	Harim & Co Ltd		92
	99,269		Heineken Holding NV		7,078
	496,015		Heineken NV		40,162
	308,010		Hershey Co		28,300
	291,500		Hey Song Corp		278
	18,166		High Liner Foods, Inc		212
	30,090		Hite Holdings Co Ltd		376
	102,063		HKScan Oyj		447
	19,700		Hokuto Corp		355
	943,000	g	Honworld Group Ltd		540
	367,377		Hormel Foods Corp		23,259
	62,752	e	House Foods Corp		1,061
	477,200		Ichitan Group PCL		207
	444,935		Illovo Sugar Ltd		525
	43,700,000	*,e	Imperial Pacific International Holdings Ltd		953
	956,859		Imperial Tobacco Group plc		49,468
	407,778		Indofood Agri Resources Ltd		142
	2,737,577		Indofood CBP Sukses Makmur Tbk		2,321
	360,000		Industrias Bachoco SAB de C.V.		1,832
	465,751		Ingredion, Inc		40,665

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	52,964	*,e	Inventure Foods, Inc	$	470
	5,260,083		IOI Corp BHD		4,868
	3,787,362		ITC Ltd		18,991
	57,200	e	Ito En Ltd		1,197
	417,000	e	Itoham Foods, Inc		2,265
	66,112		J&J Snack Foods Corp		7,514
	170,091		J.M. Smucker Co		19,406
	2,304,177		Japan Tobacco, Inc		71,476
	378,000	*	Japfa Ltd		78
	3,113,693		JBS S.A.		13,195
	27,327		Jinro Ltd		526
	39,720		John B. Sanfilippo & Son, Inc		2,036
	109,000		J-Oil Mills, Inc		313
	630,238		Juhayna Food Industries		646
	73,673	e	Kagome Co Ltd		1,182
	11,000		Kameda Seika Co Ltd		459
	630,900		Kaset Thai International Sugar Corp PCL		152
	626,562		Kellogg Co		41,698
	132,669		Kernel Holding S.A.		1,575
	604,749		Kerry Group plc (Class A)		45,496
	264,229	e	Keurig Green Mountain, Inc		13,777
	18,400	e	KEY Coffee, Inc		311
	2,357,000		Khon Kaen Sugar Industry PCL		238
	69,671		Kikkoman Corp		1,919
	321,690		Kirin Brewery Co Ltd		4,220
	287,271		Koninklijke Wessanen NV		3,038
	2,674,181		Kraft Heinz Co		188,744
	43,621		KRBL Ltd		106
	293,703		KT&G Corp		27,628
	524,195		Kuala Lumpur Kepong BHD		2,588
	3,060	e	KWS Saat AG.		1,019
	61,680		La Doria S.p.A		671
	105,884		Lancaster Colony Corp		10,322
	127,433		Lance, Inc		4,298
	68,422	*	Landec Corp		798
	67,978		Leroy Seafood Group ASA		2,444
	2,620,000	*,e	Leyou Technologies Holdings Ltd		285
	1,198,066		Lien Hwa Industrial Corp		693
	14,432	*,e	Lifeway Foods, Inc		151
	32,766	e	Limoneira Co		548
	241		Lindt & Spruengli AG.		1,413
	30		Lindt & Spruengli AG. (Registered)		2,128
	603		Lotte Chilsung Beverage Co Ltd		1,227
	869		Lotte Confectionery Co Ltd		1,614
	2,584		Lotte Samkang Co Ltd		2,292
	38,146		M Dias Branco S.A.		559
	24,254		Maeil Dairy Industry Co Ltd		796
	512,600		Malayan Flour Mills BHD		153
	116,711		Maple Leaf Foods, Inc		1,927
	255,600	*	Marfrig Global Foods S.A.		462
	252,000		Marudai Food Co Ltd		992
	39,100	e	Maruha Nichiro Corp		562

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	267,261		McCormick & Co, Inc	$	21,964
	63,473		McLeod Russel India Ltd		149
	367,118		Mead Johnson Nutrition Co		25,845
	169,900		Megmilk Snow Brand Co Ltd		3,256
	187,754		MEIJI Holdings Co Ltd		13,768
	27,362	e	Mgp Ingredients, Inc		438
	92,000	*	Minerva S.A.		310
	302,000		Mitsui Sugar Co Ltd		1,258
	563,796		Molson Coors Brewing Co (Class B)		46,806
	6,668,132		Mondelez International, Inc		279,195
	1,390,485	*	Monster Beverage Corp		187,910
	230,302	e	Morinaga & Co Ltd		1,135
	636,000		Morinaga Milk Industry Co Ltd		2,645
	13,788	*	Muhak Co Ltd		548
	533,000		Namchow Chemical Industrial Ltd		1,144
	323		Namyang Dairy Products Co Ltd		223
	54,872	*	National Beverage Corp		1,686
	6,349	e	Naturex		451
	38,896		Nestle India Ltd		3,773
	4,568,142		Nestle S.A.		343,550
	566,000		Nichirei Corp		3,546
	261,000		Nippon Beet Sugar Manufacturing Co Ltd		419
	122,000		Nippon Flour Mills Co Ltd		762
	887,705		Nippon Meat Packers, Inc		18,115
	987,866		Nippon Suisan Kaisha Ltd		2,949
	460,000		Nisshin Oillio Group Ltd		1,667
	95,707		Nisshin Seifun Group, Inc		1,392
	24,573	e	Nissin Food Products Co Ltd		1,130
	2,985		Nong Shim Co Ltd		924
	1,740		Nong Shim Holdings Co Ltd		215
	6,267		Nong Woo Bio Co Ltd		118
	93,027	e	Oceana Group Ltd		647
	211,425		Oldtown BHD		61
	70,041	*	Omega Protein Corp		1,189
	214,200	e	Organizacion Cultiba SAB de C.V.		258
	245,504		Origin Enterprises plc		1,757
	3,970		Orion Corp		3,161
	243,867		Orkla ASA		1,803
	32,743		Osem Investments Ltd		632
	1,016		Ottogi Corp		893
	365,063		PAN Fish ASA		4,644
	5,340,460		PepsiCo, Inc		503,605
	1,584,000		Pepsi-Cola Products Philippine		139
	272,566		Pernod-Ricard S.A.		27,520
	72,987	*,m	Pescanova S.A.		1
	868,500	e	Petra Foods Ltd		1,533
	468		Philip Morris CR		221
	4,031,882		Philip Morris International, Inc		319,849
	699,498	e	Pilgrim’s Pride Corp		14,536
	37,347		Pinar SUT Mamulleri Sanayii AS		247
	1,933,954		Pinnacle Foods, Inc		80,994
	100,584		Pioneer Foods Ltd		1,423

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	688,384	*	Post Holdings, Inc	$	40,683
	825,990		PPB Group BHD		2,901
	714,583	*,e	Premier Foods plc		346
	53,473		Premium Brands Holdings Corp		1,255
	510,000		Prima Meat Packers Ltd		1,364
	375,715		PT Astra Agro Lestari Tbk		466
	5,692,200		PT Austindo Nusantara Jaya		626
	1,389,600		PT Bisi International		105
	10,826,700		PT BW Plantation Tbk		149
	8,126,510		PT Charoen Pokphand Indonesia Tbk		1,113
	573,768		PT Gudang Garam Tbk		1,647
	10,933,831		PT Indofood Sukses Makmur Tbk		4,115
	4,830,100		PT Japfa Comfeed Indonesia Tbk		98
	726,400		PT Malindo Feedmill Tbk		58
	1,411,300		PT Nippon Indosari Corpindo Tbk		113
	11,886,300		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		1,128
	8,323,600		PT Salim Ivomas Pratama Tbk		253
	809,400		PT Sampoerna Agro Tbk		59
	1,837,800		PT Sawit Sumbermas Sarana Tbk		203
	7,905		Pulmuone Co Ltd		1,420
	207,100	e	Q.P. Corp		4,119
	229,319		QAF Ltd		164
	875,050		QL Resources BHD		798
	11,255	e	Remy Cointreau S.A.		740
	2,886,499	*	Reynolds American, Inc		127,785
	9,400,000		RFM Corp		805
	111,538	*	Rhodes Food Group Pty Ltd		181
	166,013	e	Rogers Sugar, Inc		506
	119,731		Royal Unibrew A.S.		4,483
	40,200	e	S Foods, Inc		808
	4,628,599		SABMiller plc		262,107
	72,291	e	SABMiller plc (Johannesburg)		4,080
	1,782	*	Sajo Industries Co Ltd		119
	28,855		Sakata Seed Corp		476
	178,122		Salmar ASA		2,816
	2,110		Samlip General Foods Co Ltd		564
	7,363		Samyang Corp		553
	597		Samyang Genex Co Ltd		95
	7,362		Samyang Holdings Corp		846
	78,618	e	Sanderson Farms, Inc		5,391
	160,800		Sao Martinho S.A.		1,590
	1,453,000		Sapporo Holdings Ltd		5,671
	362,587		Saputo, Inc		7,961
	114,275		Scandi Standard AB		620
	34,225		Schouw & Co		1,840
	852	*	Seaboard Corp		2,623
	69,979	e	Select Harvests Ltd		548
	33,339	*	Seneca Foods Corp		878
	341,400	*	Shanghai Dajiang Group		198
	2,620,000		Shenguan Holdings Group Ltd		339
	89,000		Showa Sangyo Co Ltd		346
	550,702	*	Shree Renuka Sugars Ltd		61

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	5,310		Silla Co Ltd	$	80
	130,600		SLC Agricola S.A.		590
	430,231		Souza Cruz S.A.		2,908
	431,182		Standard Foods Corp		935
	281,459		Stock Spirits Group plc		790
	42,255		Strauss Group Ltd		567
	80,565		Suedzucker AG.		1,465
	284,383		Suntory Beverage & Food Ltd		10,926
	431,500	e	Super Coffeemix Manufacturing Ltd		234
	218,501		Swedish Match AB		6,605
	53,507	*,e	Synutra International, Inc		254
	161,100		Takara Holdings, Inc		968
	432,545		Tassal Group Ltd		1,307
	559,169		Tata Tea Ltd		1,091
	880,268		Tate & Lyle plc		7,844
	449,200		TDM BHD		68
	2,075,000	e	Tenwow International Holdings Ltd		661
	360,500		Tereos Internacional S.A.		60
	1,159,500		Thai Union Group PCL		589
	858,500		Thai Vegetable Oil PCL		675
	1,522,000	e	Tibet 5100 Water Resources Holdings Ltd		405
	1,751,300		Tiga Pilar Sejahtera Food Tbk		174
	518,346		Tiger Brands Ltd		11,413
	2,406,542	e	Tingyi Cayman Islands Holding Corp		3,844
	106,685		Tongaat Hulett Ltd		830
	45,268	e	Tootsie Roll Industries, Inc		1,416
	49,946		Toyo Suisan Kaisha Ltd		1,894
	504,788		Treasury Wine Estates Ltd		2,339
	109,912	*	TreeHouse Foods, Inc		8,550
	9,920		TS Corp		209
	532,150		TSH Resources BHD		234
	481,086	e	Tsingtao Brewery Co Ltd		2,116
	141,000		Ttet Union Corp		307
	2,219,327		Tyson Foods, Inc (Class A)		95,653
	170,945		Ulker Biskuvi Sanayi AS		1,083
	963,000	e	Uni-President China Holdings Ltd		934
	5,647,260		Uni-President Enterprises Corp		9,807
	72,312		United Breweries Ltd		974
	67,255	*	United Spirits Ltd		3,174
	59,016	e	Universal Corp		2,925
	1,525,985		Universal Robina		6,274
	217,232	e	Vector Group Ltd		4,912
	8,334	e	Vilmorin & Cie		609
	428,490		Vina Concha y Toro S.A.		710
	87,000,000		Vina San Pedro Tarapaca S.A.		694
	48,401		Viscofan S.A.		2,919
	7,414,024	e	Want Want China Holdings Ltd		6,107
	49,900		Warabeya Nichiyo Co Ltd		868
	296,000		Wei Chuan Food Corp		174
	6,368,500	*,g	WH Group Ltd		3,169
	1,088,457	*	WhiteWave Foods Co (Class A)		43,702
	4,415,367		Wilmar International Ltd		7,989

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	17,031	e	Yakult Honsha Co Ltd	$	848
	168,735		Yamazaki Baking Co Ltd		2,600
	2,517,000	*,e	YuanShengTai Dairy Farm Ltd		183
	8,507		Zydus Wellness Ltd		105
			TOTAL FOOD, BEVERAGE & TOBACCO		5,743,098
HEALTH CARE EQUIPMENT & SERVICES - 4.0%
	21,394	*,e	AAC Holdings, Inc		476
	58,762	e	Abaxis, Inc		2,585
	5,021,865		Abbott Laboratories		201,979
	144,222	*	Abiomed, Inc		13,378
	289,266	*	Acadia Healthcare Co, Inc		19,170
	213,575	*,e	Accuray, Inc		1,067
	75,592		Aceto Corp		2,075
	42,180	*	Addus HomeCare Corp		1,314
	15,999	*,e	Adeptus Health, Inc		1,292
	523,748	e	Advanced Medical Solutions Group plc		1,216
	1,583,121	e	Aetna Inc		173,209
	410,784	*	AGFA-Gevaert NV		1,485
	62,626	*,m	AGFA-Gevaert NV Brussels (Strip VVPR)		0
	102,440	*,e	Air Methods Corp		3,492
	243,207		Al Noor Hospitals Group plc		3,073
	570,334		Alfresa Holdings Corp		9,740
	230,374	*	Align Technology, Inc		13,076
	21,485	*	Alliance HealthCare Services, Inc		210
	584,165	*	Allscripts Healthcare Solutions, Inc		7,244
	25,061	*	Almost Family, Inc		1,004
	33,156	e	Ambu A.S.		899
	133,186	*	Amedisys, Inc		5,057
	897,974		AmerisourceBergen Corp		85,299
	155,461	*	AMN Healthcare Services, Inc		4,665
	348,634	e	Amplifon S.p.A.		2,639
	173,905	*	Amsurg Corp		13,514
	51,053		Analogic Corp		4,188
	69,531	*	Angiodynamics, Inc		917
	61,930	*	Anika Therapeutics, Inc		1,971
	191,058		Ansell Ltd		2,530
	348,969	*,e	Antares Pharma, Inc		593
	975,284		Anthem, Inc		136,540
	210,957		Apollo Hospitals Enterprise Ltd		4,639
	29,300		As One Corp		893
	65,000		Asahi Intecc Co Ltd		2,343
	86,700	*,e	athenahealth, Inc		11,561
	75,262	*,e	AtriCure, Inc		1,649
	5,803		Atrion Corp		2,176
	953,271		Australian Pharmaceutical Industries Ltd		1,018
	1,310,350		Bangkok Chain Hospital PCL		247
	3,381,800		Bangkok Dusit Medical Services PCL		1,727
	346,808		Bard (C.R.), Inc		64,614
	1,577,273	*	Baxter International, Inc		51,813
	383,084		Becton Dickinson & Co		50,820
	169,121	*,e	BioScrip, Inc		316

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,117,700	*,e	Biosensors International Group Ltd	$	532
	69,859	*	BioTelemetry, Inc		855
	10,700		BML, Inc		298
	4,867,307	*	Boston Scientific Corp		79,873
	115,117	*	Brookdale Senior Living, Inc		2,643
	643,500		Bumrungrad Hospital PCL (Foreign)		3,836
	343,630		Bupa Chile S.A.		266
	119,273		Cantel Medical Corp		6,763
	77,115	*	Capital Senior Living Corp		1,546
	933,918		Cardinal Health, Inc		71,744
	82,854	*	Cardiovascular Systems, Inc		1,312
	32,083		Carl Zeiss Meditec AG.		897
	1,377	*,e	Carmat		87
	93,901	*,e	Castlight Health, Inc		394
	11,634	*	Cegedim S.A.		469
	17,360		Celesio AG.		488
	1,059,204	*	Centene Corp		57,441
	849,344	*	Cerner Corp		50,927
	245,768	*,e	Cerus Corp		1,116
	36,610	*	CHA Bio & Diostech Co Ltd		439
	238,932		Chartwell Retirement Residences		2,200
	69,333		CHC Healthcare Group		112
	44,702	e	Chemed Corp		5,966
	894,000	*	China NT Pharma Group Co Ltd		208
	379,000	e	China Pioneer Pharma Holdings Ltd		163
	3,678,900		Chularat Hospital PCL		219
	978,654		Cigna Corp		132,138
	43,427	*	Civitas Solutions, Inc		995
	116,255		Cochlear Ltd		6,841
	67,835		Coloplast AS		4,809
	454,232	*	Community Health Systems, Inc		19,428
	23,624		CompuGroup Medical AG.		781
	28,560	e	Computer Programs & Systems, Inc		1,203
	24,059	*	ConforMIS, Inc		435
	71,869		Conmed Corp		3,431
	18,684	*,e	Connecture, Inc		85
	25,400		Consort Medical plc		359
	76,754		Cooper Cos, Inc		11,426
	900,000	e	Cordlife Group Ltd		800
	55,542	*,e	Corindus Vascular Robotics, Inc		172
	46,344	*	Corvel Corp		1,497
	153,239	*	Cross Country Healthcare, Inc		2,086
	78,727		CryoLife, Inc		766
	36,803	*	Cutera, Inc		481
	76,400	*,e	CYBERDYNE, Inc		906
	124,564	*	Cyberonics, Inc		7,571
	87,798	*	Cynosure, Inc (Class A)		2,637
	659,414	*	DaVita, Inc		47,695
	162,410		Dentsply International, Inc		8,213
	313,423	*	DexCom, Inc		26,911
	44,113		DiaSorin S.p.A.		1,931
	163,076	*,e	Diplomat Pharmacy, Inc		4,685

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	11,636		Draegerwerk AG.	$	981
	7,762		Draegerwerk AG. & Co KGaA		549
	635,118	*	Edwards Lifesciences Corp		90,295
	15,000		Eiken Chemical Co Ltd		256
	433,180	e	Elekta AB (B Shares)		2,884
	176,492	*,e	Endologix, Inc		2,164
	66,171		Ensign Group, Inc		2,821
	14,796	*,e	Entellus Medical, Inc		267
	491,414	*	Envision Healthcare Holdings, Inc		18,079
	700,703		Essilor International S.A.		85,604
	989,275		Estia Health Ltd		4,730
	30,511	*	Evolent Health, Inc		487
	26,568	*	Exactech, Inc		463
	108,040	*,e	ExamWorks Group, Inc		3,159
	3,326,923	*	Express Scripts Holding Co		269,348
	214,961	e	Extendicare, Inc		1,290
	971,151	e	Fagron NV		18,514
	1,438,021		Fisher & Paykel Healthcare Corp		6,534
	233,325	*	Five Star Quality Care, Inc		721
	135,800		Fleury S.A.		557
	114,420	*	Fortis Healthcare Ltd		295
	260,562		Fresenius Medical Care AG.		20,364
	487,833		Fresenius SE		32,747
	16,400		Fukuda Denshi Co Ltd		809
	7,645		Galenica AG.		9,741
	130,976	*	Genesis Health Care, Inc		803
	116,093	*,e	GenMark Diagnostics, Inc		914
	85,433		Getinge AB (B Shares)		1,907
	39,000		Ginko International Co Ltd		393
	16,893	*	Glaukos Corp		409
	173,749	*,e	Globus Medical, Inc		3,590
	456,701		GN Store Nord		8,205
	6,647,705	e	Golden Meditech Holdings Ltd		862
	83,326	*	Greatbatch, Inc		4,701
	47,600		Green Hospital Supply, Inc		1,026
	80,291	e	Greencross Ltd		369
	14,986		Guerbet		1,067
	134,878	*	Haemonetics Corp		4,359
	119,437	*	Halyard Health, Inc		3,397
	95,390	*	Hanger Orthopedic Group, Inc		1,301
	1,244,400		Hartalega Holdings BHD		1,373
	1,408,717	*	HCA Holdings, Inc		108,978
	472,613	*	Health Net, Inc		28,461
	94,983	*	HealthEquity, Inc		2,807
	1,010,042		Healthscope Ltd		1,815
	408,624		Healthsouth Corp		15,679
	66,110	*	HealthStream, Inc		1,442
	83,999	*	Healthways, Inc		934
	58,324	*,e	HeartWare International, Inc		3,051
	158,070	*	Henry Schein, Inc		20,979
	69,410		Hill-Rom Holdings, Inc		3,609
	6,385	*	Hironic Co Ltd		70

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	312,342	*	HMS Holdings Corp	$	2,739
	12,300	e	Hogy Medical Co Ltd		564
	1,843,731	*	Hologic, Inc		72,145
	372,936	*	Hoya Corp		12,214
	359,444		Humana, Inc		64,340
	67,486	*	ICU Medical, Inc		7,390
	271,560	*	Idexx Laboratories, Inc		20,163
	3,649,595		IHH Healthcare BHD		4,954
	41,937	*	Imprivata, Inc		745
	515,119	*	IMS Health Holdings, Inc		14,990
	9,017		InBody Co Ltd		297
	89,016	*	Inogen Inc		4,322
	480,887	*,e	Inovalon Holdings, Inc		10,017
	157,977	*,e	Insulet Corp		4,093
	149,929	*	Integra LifeSciences Holdings Corp		8,928
	159,122	*	Intuitive Surgical, Inc		73,129
	86,550		Invacare Corp		1,252
	184,160	*	Inverness Medical Innovations, Inc		8,867
	111,123	*,e	InVivo Therapeutics Holdings Corp		958
	21,096		Ion Beam Applications		681
	50,008	*	IPC The Hospitalist Co, Inc		3,885
	7,250	*,e	iRadimed Corp		177
	7,069	*	i-SENS Inc		224
	691,599	e	Japara Healthcare Ltd		1,370
	94,000	e	Jeol Ltd		539
	50,206	*	K2M Group Holdings, Inc		934
	418,555		Kindred Healthcare, Inc		6,592
	35,084		Korian-Medica		1,322
	728,900		Kossan Rubber Industries		1,282
	1,464,573		KPJ Healthcare BHD		1,399
	383,068	*	Laboratory Corp of America Holdings		41,551
	25,031		Landauer, Inc		926
	61,131	*	LDR Holding Corp		2,111
	48,570		LeMaitre Vascular, Inc		592
	94,101	*	LHC Group, Inc		4,213
	56,886	e	Lifco AB		1,241
	1,151,969		Life Healthcare Group Holdings Pte Ltd		2,963
	311,964	*	LifePoint Hospitals, Inc		22,118
	1,484,000	*	Lifetech Scientific Corp		215
	7,095		Lutronic Corp		247
	124,206	*	Magellan Health Services, Inc		6,885
	6,700		Mani, Inc		130
	186,501	*	Masimo Corp		7,191
	917,248		McKesson Corp		169,718
	165,638	*	MedAssets, Inc		3,323
	90,565	e	Medical Facilities Corp		1,066
	20,946		Medicare Group		974
	301,687		Mediceo Paltac Holdings Co Ltd		4,787
	704,855		Mediclinic International Ltd		5,626
	144,750	*	Medidata Solutions, Inc		6,095
	41,680	*	Medipost Co Ltd		3,171
	4,786,757	e	Medtronic plc		320,426

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	378,259	*	Merge Healthcare, Inc	$	2,686
	110,377	e	Meridian Bioscience, Inc		1,887
	262,827	*	Merit Medical Systems, Inc		6,284
	33,200	e	Message Co Ltd		690
	1,627,145		Metlifecare Ltd		4,408
	145,500		Microlife Corp		350
	482,000	*	Microport Scientific Corp		192
	78,893		Miraca Holdings, Inc		3,346
	176,930	*,e	Molina Healthcare, Inc		12,182
	20,736		Nagaileben Co Ltd		384
	27,900		Nakanishi, Inc		1,038
	35,573		National Healthcare Corp		2,166
	29,190	e	National Research Corp		349
	151,868	*	Natus Medical, Inc		5,991
	110,258	*	Neogen Corp		4,961
	2,712,885		Network Healthcare Holdings Ltd		7,123
	42,358	*,e	Nevro Corp		1,965
	42,300	e	Nichii Gakkan Co		294
	72,200		Nihon Kohden Corp		1,197
	58,967	e	Nikkiso Co Ltd		394
	645,900		Nipro Corp		6,637
	86,759	*,e	Nobilis Health Corp		453
	206,629	*	NuVasive, Inc		9,964
	163,791	*	NxStage Medical, Inc		2,583
	330,619		Odontoprev S.A.		796
	1,506,877	*	Olympus Corp		47,012
	182,733	*	Omnicell, Inc		5,683
	489,269	*	OraSure Technologies, Inc		2,172
	158,851	*	Oriola-KD Oyj (B Shares)		764
	45,506	*	Orion Health Group Ltd		98
	67,052		Orpea		5,335
	69,680	*	Orthofix International NV		2,352
	8,736	*	Osstem Implant Co Ltd		482
	161,011	e	Owens & Minor, Inc		5,143
	49,765	*,e	Oxford Immunotec Global plc		672
	16,800		Paramount Bed Holdings Co Ltd		500
	170,112		Patterson Cos, Inc		7,357
	405,489	*	Pediatrix Medical Group, Inc		31,138
	211,675		Pharmaniaga BHD		313
	101,649	*	PharMerica Corp		2,894
	324,500		Phoenix Healthcare Group Co Ltd		530
	34,132		Phonak Holding AG.		4,395
	110,000	*	Pihsiang Machinery Manufacturing Co Ltd		247
	339,400	*	Premier, Inc		11,665
	59,938	*,e	Press Ganey Holdings, Inc		1,774
	1,441,835	e	Primary Health Care Ltd		3,857
	36,119	*	Providence Service Corp		1,574
	15,000	e	Psc, Inc		111
	288,800		PT Siloam International Hospitals Tbk		244
	559,000	*,e	PW Medtech Group Ltd		118
	267,008		Qualicorp S.A.		999
	130,904		Quality Systems, Inc		1,634

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	184,693		Quest Diagnostics, Inc	$	11,353
	74,670	*,e	Quidel Corp		1,410
	133,331	*	RadNet, Inc		740
	253,405		Raffles Medical Group Ltd		805
	186,431		Ramsay Health Care Ltd		7,689
	145,489	e	Regis Healthcare Ltd		548
	4,307,200	e	Religare Health Trust		2,880
	255,835	e	Resmed, Inc		13,037
	159,694		Rhoen Klinikum AG.		4,522
	5,000	*,e	Rion Co Ltd		75
	197,137	*,e	Rockwell Medical Technologies, Inc		1,520
	207,659	*	RTI Biologics, Inc		1,180
	684,264	e	Ryman Healthcare Ltd		3,205
	11,988		Sartorius AG.		2,849
	4,922		Sartorius Stedim Biotech		1,465
	48,196	*	SeaSpine Holdings Corp		781
	31,014	*,e	Second Sight Medical Products, Inc		184
	210,753		Selcuk Ecza Deposu Ticaret ve Sanayi AS		162
	270,501		Select Medical Holdings Corp		2,919
	16,920		SEWOONMEDICAL Co Ltd		89
	2,346,994		Shandong Weigao Group Medical Polymer Co Ltd		1,488
	2,466,562	e	Shanghai Pharmaceuticals Holding Co Ltd		5,170
	100,404	e	Sienna Senior Living, Inc		1,266
	14,180	*	Sientra, Inc		144
	2,766,459		Sigma Pharmaceuticals Ltd		1,455
	1,467,247		Sinopharm Group Co		5,161
	138,348	*	Sirona Dental Systems, Inc		12,913
	692,577		Smith & Nephew plc		12,100
	225,435		So-net M3, Inc		4,480
	1,507,008		Sonic Healthcare Ltd		19,384
	354,219	*	Sorin S.p.A.		1,022
	112,528	*,e	Spectranetics Corp		1,327
	677,381	g	Spire Healthcare Group plc		3,693
	791,877		St. Jude Medical, Inc		49,960
	44,000		St. Shine Optical Co Ltd		540
	98,726	*,e	Staar Surgical Co		766
	291,711	e	STERIS Corp		18,952
	12,834		STRATEC Biomedical AG.		746
	12,746		Straumann Holding AG.		3,669
	894,529		Stryker Corp		84,175
	6,340		Suheung Capsule Co Ltd		267
	999,185	e	Summerset Group Holdings Ltd		2,260
	1,157,600		Supermax Corp BHD		535
	140,361	*	Surgical Care Affiliates, Inc		4,588
	38,945	*	SurModics, Inc		851
	112,180		Suzuken Co Ltd		3,741
	58,300		Synergy Healthcare plc		1,914
	256,598		Sysmex Corp		13,551
	48,755	*,e	Tandem Diabetes Care, Inc		430
	241,165	*	Team Health Holdings, Inc		13,030
	22,446	*	Teladoc, Inc		500
	24,307		Teleflex, Inc		3,019

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	494,138	*	Tenet Healthcare Corp	$	18,244
	155,776		Terumo Corp		4,409
	192,824	*	Thoratec Corp		12,198
	159,100	e	Toho Pharmaceutical Co Ltd		3,318
	18,800		Tokai Corp (GIFU)		520
	2,651,000		Top Glove Corp BHD		4,866
	3,498,000	e	Town Health International Medical Group Ltd		730
	122,646	*,e	TransEnterix, Inc		277
	77,564	*,e	Triple-S Management Corp (Class B)		1,381
	41,049	*,e	Trupanion, Inc		310
	28,100	e	Tsuki Corp		270
	316,782	*,e	Unilife Corp		310
	596,775		United Drug plc		4,542
	3,224,022		UnitedHealth Group, Inc		374,019
	118,733	*,e	Universal American Corp		812
	6,943,000	e	Universal Health International Group Holding Ltd		2,293
	742,120		Universal Health Services, Inc (Class B)		92,624
	61,922		US Physical Therapy, Inc		2,780
	10,604	e	Utah Medical Products, Inc		571
	6,803		Value Added Technologies Co Lt		226
	139,498	*	Varian Medical Systems, Inc		10,292
	43,893	*	Vascular Solutions, Inc		1,423
	331,220	*	VCA Antech, Inc		17,439
	281,325	*,e	Veeva Systems, Inc		6,586
	21,920	*,e	Veracyte, Inc		103
	5,835,000		Vibhavadi Medical Center PCL		245
	6,504		Vieworks Co Ltd		183
	286,947	e	Virtus Health Ltd		1,099
	78,300	e	VITAL KSK Holdings, Inc		529
	62,395	*	Vocera Communications, Inc		712
	281,020	*	WellCare Health Plans, Inc		24,218
	256,368		West Pharmaceutical Services, Inc		13,875
	24,861	*	William Demant Holding		2,065
	96,803	*	Wright Medical Group NV		1,974
	135,929	*,e	Wright Medical Group, Inc		2,857
	16,336	e	Ypsomed Holding AG.		1,767
	82,028	*,e	Zeltiq Aesthetics, Inc		2,627
	340,623		Zimmer Holdings, Inc		31,995
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		4,413,612
HOUSEHOLD & PERSONAL PRODUCTS - 1.5%
	9,065		Able C&C Co Ltd		215
	133,200		Aderans Co Ltd		1,060
	58,071		Amorepacific Corp		18,924
	28,320		Amorepacific Corp (Preference)		4,463
	15,200		Artnature, Inc		153
	387,004	e	Asaleo Care Ltd		488
	903,475	e	Avon Products, Inc		2,936
	56,661		Bajaj Corp Ltd		387
	639,735		Beiersdorf AG.		56,707
	7,710		Bioland Ltd		159
	180,968	*	Central Garden and Pet Co (Class A)		2,915

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	535,000		China Child Care Corp Ltd	$	48
	22,000		Chlitina Holding Ltd		162
	437,936		Church & Dwight Co, Inc		36,743
	358,868		Clorox Co		41,460
	1,600,620	e	Colgate-Palmolive Co		101,575
	3,813		Cosmax BTI, Inc		266
	35,874		Cosmax, Inc		6,488
	189,370	e	Coty, Inc		5,124
	819,333		Dabur India Ltd		3,449
	25,000		Dr Ci:Labo Co Ltd		471
	489,700		DSG International Thailand PCL		64
	13,000		Earth Chemical Co Ltd		495
	132,538		Edgewell Personal Care Co		10,815
	136,701		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		112
	70,760	*,e	Elizabeth Arden, Inc		827
	152,358		Energizer Holdings, Inc		5,898
	1,587,579	e	Estee Lauder Cos (Class A)		128,086
	59,500	*,e	Euglena Co Ltd		880
	33,849		Eveready Industries India Ltd		150
	161,400		Fancl Corp		2,318
	9,735		Gillette India Ltd		722
	160,327		Godrej Consumer Products Ltd		2,986
	82,000		Grape King Industrial Co		408
	925,286		Hengan International Group Co Ltd		9,042
	45,139		Henkel KGaA		3,990
	266,206		Henkel KGaA (Preference)		27,418
	366,091	*,e	Herbalife Ltd		19,952
	1,319,139		Hindustan Lever Ltd		16,382
	202,625	*	HRG Group, Inc		2,377
	392,316	*	Hypermarcas S.A.		1,512
	9,453		Inter Parfums S.A.		242
	50,406		Inter Parfums, Inc		1,251
	346,755		Jyothy Laboratories Ltd		1,683
	735,351		Kao Corp		33,334
	4,682,600		Karex BHD		3,462
	1,105,056		Kimberly-Clark Corp		120,495
	1,806,032		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		4,084
	25,200		Kobayashi Pharmaceutical Co Ltd		1,901
	23,131		Korea Kolmar Co Ltd		1,940
	6,204		Korea Kolmar Holdings Co Ltd		398
	23,900	e	Kose Corp		2,181
	25,620		LG Household & Health Care Ltd		18,541
	207,000	e	Lion Corp		1,819
	333,181		L’Oreal S.A.		57,912
	74,079		Mandom Corp		2,423
	199,477		Marico Ltd		1,229
	39,793	*	Medifast, Inc		1,069
	359,924	*	Microbio Co Ltd		296
	9,900		Milbon Co Ltd		328
	197,850		Natura Cosmeticos S.A.		973
	45,086	e	Natural Health Trends Corp		1,473

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	39,694		Nature’s Sunshine Products, Inc	$	476
	15,700		Noevir Holdings Co Ltd		340
	353,314	e	Nu Skin Enterprises, Inc (Class A)		14,585
	37,865	*,e	Nutraceutical International Corp		894
	4,733,000	e,m	NVC Lighting Holdings Ltd		6
	12,803		Oil-Dri Corp of America		293
	67,132		Ontex Group NV		2,065
	27,869	e	Orchids Paper Products Co		727
	40,152	*,e	Oriflame Holding AG.		498
	82,227		Pacific Corp		11,356
	156,700		Pigeon Corp		3,661
	27,600		Pola Orbis Holdings, Inc		1,716
	7,903,851		Procter & Gamble Co		568,603
	8,430,500		PT Industri Jamu Dan Farmasi Sido Muncul Tbk		282
	3,197,091		PT Unilever Indonesia Tbk		8,305
	643,557		Reckitt Benckiser Group plc		58,361
	60,203	*	Revlon, Inc (Class A)		1,773
	7,355,000	e	Ruinian International Ltd		1,261
	10,862	*	Sansung Life & Science Co Ltd		391
	71,491		Shiseido Co Ltd		1,559
	76,564		Spectrum Brands, Inc		7,006
	810,903		Svenska Cellulosa AB (B Shares)		22,691
	98,099		Uni-Charm Corp		1,738
	2,912,619		Unilever NV		116,752
	1,819,128		Unilever plc		74,093
	40,787	*,e	USANA Health Sciences, Inc		5,467
	320,000	e	Vinda International Holdings Ltd		577
	60,582		WD-40 Co		5,396
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,686,533
INSURANCE - 4.3%
	3,491,832	e	ACE Ltd		361,055
	133,027		Admiral Group plc		3,026
	957,507		Aegon NV		5,490
	1,307,071		Aflac, Inc		75,980
	152,025		Ageas		6,248
	17,593,807		AIA Group Ltd		91,501
	54,526		Aksigorta AS		31
	13,270	*	Alleghany Corp		6,212
	736,516		Allianz AG.		115,701
	114,472		Allied World Assurance Co Holdings Ltd		4,369
	2,647,255		Allstate Corp		154,176
	175,415		Alm Brand AS		1,009
	116,178	*	AMBAC Financial Group, Inc		1,681
	256,119	e	American Equity Investment Life Holding Co		5,970
	429,390		American Financial Group, Inc		29,589
	2,565,653		American International Group, Inc		145,780
	7,194		American National Insurance Co		702
	80,074		Amerisafe, Inc		3,982
	1,271,176		Amlin plc		12,632
	3,920,703		AMP Ltd		15,399
	256,321	e	Amtrust Financial Services, Inc		16,143

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	68,282		Anadolu Hayat Emeklilik AS	$	124
	207,131		Anadolu Sigorta		103
	396,506		Aon plc		35,134
	206,509	*	Arch Capital Group Ltd		15,172
	217,766		Argo Group International Holdings Ltd		12,323
	146,012		Arthur J. Gallagher & Co		6,027
	207,068		Aspen Insurance Holdings Ltd		9,622
	2,198,568		Assicurazioni Generali S.p.A.		40,225
	58,752		Assurant, Inc		4,642
	281,142		Assured Guaranty Ltd		7,029
	41,329	*	Atlas Financial Holdings, Inc		765
	10,420,164		Aviva plc		71,269
	22,096		AvivaSA Emeklilik ve Hayat AS.		118
	4,965,436		AXA S.A.		120,556
	402,011	e	Axis Capital Holdings Ltd		21,596
	4,146		Bajaj Finserv Ltd		109
	45,433		Baldwin & Lyons, Inc (Class B)		986
	17,407		Baloise Holding AG.		1,995
	982,046		BB Seguridade Participacoes S.A.		6,146
	1,252,181		Beazley plc		6,770
	4,372,919	*	Berkshire Hathaway, Inc (Class B)		570,229
	98,415		Brown & Brown, Inc		3,048
	22,593,129		Cathay Financial Holding Co Ltd		30,945
	182,562		Chesnara plc		931
	1,894,318	*	China Insurance International Holdings Co Ltd		5,928
	11,571,010		China Life Insurance Co Ltd		40,318
	8,173,276		China Life Insurance Co Ltd (Taiwan)		6,226
	3,097,218		China Pacific Insurance Group Co Ltd		11,554
	138,292		Chubb Corp		16,962
	104,352		Cincinnati Financial Corp		5,614
	177,658	*,e	Citizens, Inc (Class A)		1,318
	19,954	*	Clal Insurance		296
	4,371,790		ClearView Wealth Ltd		2,823
	19,990		CNA Financial Corp		698
	443,525		CNP Assurances		6,163
	660,354	e	Conseco, Inc		12,421
	756,112		Corp Mapfre S.A.		1,977
	312,404		Cover-More Group Ltd		492
	79,630		Crawford & Co (Class B)		447
	3,023,611		Dai-ichi Mutual Life Insurance Co		48,135
	77,748		Delta Lloyd NV		653
	4,633,698		Direct Line Insurance Group plc		26,292
	851,871		Discovery Holdings Ltd		8,475
	46,024		Donegal Group, Inc (Class A)		647
	76,313		Dongbu Insurance Co Ltd		3,958
	22,600	*	eHealth, Inc		290
	36,372		EMC Insurance Group, Inc		844
	139,986		Employers Holdings, Inc		3,120
	69,944		Endurance Specialty Holdings Ltd		4,269
	34,410	*	Enstar Group Ltd		5,161
	55,035	e	Erie Indemnity Co (Class A)		4,565
	731,543		esure Group plc		2,749

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,293		Euler Hermes S.A.	$	2,624
	267,662		Everest Re Group Ltd		46,397
	22,997		Fairfax Financial Holdings Ltd		10,473
	24,441	e	FBD Holdings plc		181
	39,113		FBL Financial Group, Inc (Class A)		2,406
	113,176		Federated National Holding Co		2,718
	96,333		Fidelity & Guaranty Life		2,364
	277,410		First American Financial Corp		10,838
	560,193		FNF Group		19,870
	738,849		Fondiaria-Sai S.p.A		1,607
	391,847	*	Genworth Financial, Inc (Class A)		1,810
	299,090		Gjensidige Forsikring BA		4,027
	524,699		Great-West Lifeco, Inc		12,570
	73,297	*,e	Greenlight Capital Re Ltd (Class A)		1,633
	42,464		Grupo Catalana Occidente S.A.		1,222
	55,235	*	Hallmark Financial Services		635
	177,587		Hannover Rueckversicherung AG.		18,190
	35,794		Hanover Insurance Group, Inc		2,781
	187,090	*	Hanwha Non-Life Insurance Co Ltd		1,163
	135,301		Harel Insurance Investments & Finances Ltd		562
	2,798,683		Hartford Financial Services Group, Inc		128,124
	75,384		HCC Insurance Holdings, Inc		5,840
	22,607	e	HCI Group, Inc		876
	6,585		Helvetia Holding AG.		3,230
	373,386	*	Heritage Insurance Holdings, Inc		7,367
	401,718		Hiscox Ltd		5,730
	108,077		Horace Mann Educators Corp		3,590
	196,091		Hyundai Marine & Fire Insurance Co Ltd		5,003
	5,903		IDI Insurance Co Ltd		270
	27,634		Independence Holding Co		358
	188,517		Industrial Alliance Insurance and Financial Services, Inc		5,625
	44,705		Infinity Property & Casualty Corp		3,601
	2,687,222		Insurance Australia Group Ltd		9,188
	163,163		Intact Financial Corp		11,459
	26,082		James River Group Holdings Ltd		701
	253,618		Just Retirement Group plc		628
	16,840	e	Kansas City Life Insurance Co		791
	110,027		Kemper Corp		3,892
	650,568		Korea Life Insurance Co Ltd		4,479
	87,869		Korean Reinsurance Co		1,058
	189,826	e	Lancashire Holdings Ltd		1,986
	16,681,348		Legal & General Group plc		60,149
	255,971	e	Liberty Holdings Ltd		2,339
	37,650		LIG Insurance Co Ltd		751
	605,619		Lincoln National Corp		28,743
	193,975		Loews Corp		7,010
	170,982	e	Maiden Holdings Ltd		2,373
	2,645,407	e	Manulife Financial Corp		40,915
	16,376	*	Markel Corp		13,131
	2,025,277		Marsh & McLennan Cos, Inc		105,760
	270,520		MAX India Ltd		2,116
	348,798	*	MBIA, Inc		2,121

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,102,382		Medibank Pvt Ltd	$	8,693
	261,177		Mediolanum S.p.A.		1,866
	48,299		Menorah Mivtachim Holdings Ltd		422
	635,465		Mercuries & Associates Holding Ltd		409
	1,132,122		Mercuries Life Insurance Co Lt		656
	32,702		Mercury General Corp		1,652
	50,788		Meritz Fire & Marine Insurance Co Ltd		683
	7,433,450		Metlife, Inc		350,487
	989,095	e	Metropolitan Holdings Ltd		1,702
	345,902		Migdal Insurance Holdings Ltd		314
	899,754		Mitsui Sumitomo Insurance Group Holdings, Inc		24,140
	397,900	*	MPHB Capital BHD		130
	114,248		Muenchener Rueckver AG.		21,337
	236,252		National General Holdings Corp		4,557
	34,624		National Interstate Corp		924
	6,596		National Western Life Insurance Co (Class A)		1,469
	61,730	*	Navigators Group, Inc		4,814
	947,104		New China Life insurance Co Ltd		4,105
	299,799		NKSJ Holdings, Inc		8,708
	112,730		NN Group NV		3,236
	6,317,111		Old Mutual plc		18,104
	229,758		Old Republic International Corp		3,593
	148,977		OneBeacon Insurance Group Ltd (Class A)		2,092
	50,526		PartnerRe Ltd		7,017
	221,424		Partnership Assurance Group plc		444
	95,309	*,e	Patriot National, Inc		1,509
	8,718,805		People’s Insurance Co Group of China Ltd		4,279
	202,902		Phoenix Group Holdings		2,509
	119,814		Phoenix Holdings Ltd		317
	12,013,902		PICC Property & Casualty Co Ltd		23,532
	10,906,400		Ping An Insurance Group Co of China Ltd		54,499
	95,904		Porto Seguro S.A.		728
	754,402		Power Corp Of Canada		15,642
	462,403	e	Power Financial Corp		10,603
	168,296		Powszechny Zaklad Ubezpieczen S.A.		17,280
	239,094	e	Primerica, Inc		10,776
	870,712		Principal Financial Group		41,220
	124,228		ProAssurance Corp		6,096
	916,830		Progressive Corp		28,092
	186,139		Protector Forsikring ASA		1,312
	2,358,433		Prudential Financial, Inc		179,736
	5,741,721		Prudential plc		121,130
	57,256,000	*	PT Panin Insurance Tbk		2,273
	117,257,400	*	PT Panin Life Tbk		1,540
	99,802		Qatar Insurance Co SAQ		2,551
	1,467,128		QBE Insurance Group Ltd		13,361
	226,300	*,e	Qualitas Controladora SAB de C.V.		313
	396,487		Reinsurance Group of America, Inc (Class A)		35,918
	166,559		RenaissanceRe Holdings Ltd		17,709
	112,969		RLI Corp		6,047
	578,323		RMI Holdings		1,732
	238,482	e	RSA Insurance Group plc		1,454

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	38,607		Safety Insurance Group, Inc	$	2,091
	1,169,854		Sampo Oyj (A Shares)		56,618
	41,045		Samsung Fire & Marine Insurance Co Ltd		9,692
	142,704		Samsung Life Insurance Co Ltd		11,934
	2,527,128		Sanlam Ltd		10,928
	365,418		SCOR		13,122
	147,710		Selective Insurance Group, Inc		4,588
	7,546,941		Shin Kong Financial Holding Co Ltd		1,795
	209,000		Shinkong Insurance Co Ltd		133
	574,121		Societa Cattolica di Assicurazioni SCRL		4,045
	2,040,692		Sony Financial Holdings, Inc		33,494
	486,570		St. James’s Place plc		6,262
	36,447		Stancorp Financial Group, Inc		4,162
	1,281,335		Standard Life plc		7,525
	39,098		State Auto Financial Corp		892
	102,337	e	State National Cos, Inc		957
	769,832	e	Steadfast Group Ltd		775
	59,418		Stewart Information Services Corp		2,431
	450,613	*	Storebrand ASA		1,478
	158,733		Sul America SA		715
	867,309	e	Sun Life Financial, Inc		27,972
	968,173		Suncorp-Metway Ltd		8,329
	23,536		Swiss Life Holding		5,250
	675,142		Swiss Re Ltd		57,925
	858,000		Syarikat Takaful Malaysia BHD		736
	192,269		Symetra Financial Corp		6,083
	532,642		T&D Holdings, Inc		6,291
	238,000		Taiwan Fire & Marine Insurance Co		158
	1,455,409	*	Taiwan Life Insurance Co Ltd		1,203
	2,600,200	*	Thai Reinsurance PCL		202
	2,442,385	*,e	Third Point Reinsurance Ltd		32,850
	1,162,168		Tokio Marine Holdings, Inc		43,419
	154,770		Tong Yang Life Insurance		1,861
	209,130	*	Topdanmark AS		5,941
	169,195		Torchmark Corp		9,543
	596,977		Travelers Cos, Inc		59,417
	51,241		Tryg A.S.		996
	400,400		Tune Ins Holdings BHD		119
	1,691,910		Unipol Gruppo Finanziario S.p.A		7,434
	273,393	e	Uniqa Versicherungen AG.		2,371
	34,442	*	United America Indemnity Ltd		901
	65,149		United Fire & Casualty Co		2,283
	186,789	e	United Insurance Holdings Corp		2,456
	82,859		Universal Insurance Holdings, Inc		2,448
	256,368		UnumProvident Corp		8,224
	180,805		Validus Holdings Ltd		8,149
	52,730		Vittoria Assicurazioni S.p.A.		580
	916,303		W.R. Berkley Corp		49,819
	8,214		White Mountains Insurance Group Ltd		6,138
	6,669		Wiener Staedtische Allgemeine Versicherung AG.		197
	10,189		Willis Group Holdings plc		417
	4,481,751		XL Capital Ltd		162,777

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	472,021		Zurich Financial Services AG.	$	115,884
			TOTAL INSURANCE		4,743,932
MATERIALS - 4.3%
	98,753		A. Schulman, Inc		3,207
	18,480		Aarti Industries		155
	318,479	e	Acerinox S.A.		2,848
	802,309		ACHEM Technology Corp		309
	407,000	e	Achilles Corp		501
	35,840		Acron JSC (GDR)		164
	46,912		Adana Cimento		97
	81,800		ADEKA Corp		1,045
	1,429,931		Adelaide Brighton Ltd		4,386
	259,477		Aeci Ltd		1,721
	21,405	*	AEP Industries, Inc		1,227
	166,144		African Barrick Gold Ltd		623
	151,429		African Oxygen Ltd		164
	107,876		African Rainbow Minerals Ltd		405
	235,063		Agnico-Eagle Mines Ltd		5,959
	220,502	e	Agrium, Inc		19,762
	399,000		Aichi Steel Corp		1,507
	226,859		Air Liquide		26,895
	178,409		Air Products & Chemicals, Inc		22,761
	126,422		Air Water, Inc		1,899
	30,489		Airgas, Inc		2,724
	28,183		AK Holdings, Inc		1,908
	76,986		Akcansa Cimento AS		359
	8,236		Akzo Nobel India Ltd		173
	671,697		Akzo Nobel NV		43,687
	267,649		Alamos Gold, Inc		991
	4,160,256		Albemarle Corp		183,467
	2,399,416		Alcoa, Inc		23,178
	247,341		Alent plc		1,818
	45,479		Alexandria Mineral Oils Co		202
	186,536	e	Allegheny Technologies, Inc		2,645
	1,523,000	e	Alpek SAB de C.V.		1,957
	371,679		Altri SGPS S.A.		1,499
	525,879	e	Alumina Ltd		418
	5,225,171	*,e	Aluminum Corp of China Ltd		1,632
	1,037,915		Ambuja Cements Ltd		3,261
	2,128,904		Amcor Ltd		19,798
	75,548	e	American Vanguard Corp		873
	4,201,000		AMVIG Holdings Ltd		1,750
	108,585		Anadolu Cam Sanayii AS		75
	683,492		Anatolia Minerals Development Ltd		1,542
	1,017,472		Anglo American plc (London)		8,499
	77,604	*	Anglo Platinum Ltd		1,286
	718,151	*	AngloGold Ashanti Ltd		5,797
	1,560,291	e	Anhui Conch Cement Co Ltd		4,613
	450,473	e	Antofagasta plc		3,412
	152,080	*,e	APERAM		4,112
	63,921		Aptargroup, Inc		4,216

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	190,777		Arabian Cement Co	$	292
	729,227	e	ArcelorMittal		3,782
	162,730		Arkema		10,548
	29,874		Asahi Holdings, Inc		449
	1,571,044		Asahi Kasei Corp		11,078
	167,358	*	Asanko Gold, Inc		245
	123,107		Ashland, Inc		12,387
	1,170,000		Asia Cement China Holdings Corp		324
	1,164		Asia Cement Co Ltd		107
	5,372,495		Asia Cement Corp		5,270
	786		Asia Holdings Co Ltd		81
	126,266		Asia Plastic Recycling Holding Ltd		56
	314,125		Asia Polymer		168
	461,238		Asian Paints Ltd		5,923
	59,613		Associated Cement Co Ltd		1,226
	129,579	e	Assore Ltd		696
	611,200		Atlas Consolidated Mining & Development		60
	57,227	e	Atlas Iron Ltd		1
	7,302		Atul Ltd		174
	6,657	*	AuRico Metals, Inc		3
	124,026		Aurubis AG.		7,894
	475,238		Avery Dennison Corp		26,884
	145,344	*	Axalta Coating Systems Ltd		3,683
	2,105,359		Axiall Corp		33,033
	852,474	*,e	B2Gold Corp		901
	87,744		Balchem Corp		5,332
	282,772		Ball Corp		17,588
	1,612,568		Barrick Gold Corp (Canada)		10,259
	8,644		BASF India Ltd		143
	1,242,837		BASF SE		95,056
	35,355		Baticim Bati Anadolu Cimento Sanayii AS		70
	15,552		Bayer CropScience Ltd		867
	10,663,449		BBMG Corp		7,359
	36,714	e	Bekaert S.A.		967
	54,136		Bemis Co, Inc		2,142
	2,295,200		Bengang Steel Plates Co		765
	245,521		Berger Paints India Ltd		823
	6,899,604	*,a	Berry Plastics Group, Inc		207,471
	4,686,399		BHP Billiton Ltd		74,018
	5,962,357		BHP Billiton plc		90,757
	874,839		Billerud AB		12,596
	165,000	e	Bloomage Biotechnology Corp Ltd		250
	584,581		BlueScope Steel Ltd		1,489
	7,972		BNG Steel Co Ltd		71
	112,545	*	Boise Cascade Co		2,838
	1,648,505		Boliden AB		25,813
	2,437,627		Boral Ltd		9,066
	270,171		Borregaard ASA		1,627
	47,043		Borusan Mannesmann Boru Sanayi		94
	203,728		Boryszew S.A.		263
	52,503		BRAAS Monier Building Group S.A.		1,404
	221,586		Bradespar S.A.		458

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	551,796		Braskem S.A.	$	2,320
	57,497		Brush Engineered Materials, Inc		1,726
	64,843	e	Buzzi Unicem S.p.A.		1,084
	107,539		Buzzi Unicem S.p.A. RSP		1,082
	5,400		C Uyemura & Co Ltd		262
	248,367		Cabot Corp		7,838
	164,066		Calgon Carbon Corp		2,556
	85,687		Canam Group, Inc		826
	194,465	e	Canexus Corp		169
	269,564	*	Canfor Corp		3,214
	80,817		Canfor Pulp Products, Inc		741
	73,144		CAP S.A.		192
	349,437	*	Capstone Mining Corp		115
	131,974		Carpenter Technology Corp		3,929
	143,222		Cascades, Inc		924
	105,354		CCL Industries		14,789
	313,974		Celanese Corp (Series A)		18,578
	43,379		Cementir S.p.A.		234
	400,331		Cementos Argos S.A.		1,224
	505,180	*	Cemex Latam Holdings S.A.		2,012
	26,309,960	*,e	Cemex S.A. de C.V.		18,349
	907,601	*,e	Cemex SAB de C.V. (ADR)		6,344
	4,378,240		Centamin plc		4,038
	556,262		Centerra Gold, Inc		3,143
	223,478	*,e	Century Aluminum Co		1,028
	1,588,125		Century Sunshine Ecological Technology Holdings Ltd		132
	22,397		Century Textile & Industries Ltd		177
	721,472		CF Industries Holdings, Inc		32,394
	21,094		Chase Corp		831
	172,736		Chemours Co		1,118
	197,210	*	Chemtura		5,644
	707,560		Cheng Loong Corp		243
	475,925		Chia Hsin Cement Corp		145
	1,734,695		China BlueChemical Ltd		466
	4,680,000	*,e	China Daye Non-Ferrous Metals Mining Ltd		88
	159,000		China Hi-ment Corp		288
	885,000	*	China Manmade Fibers Corp		246
	701,372		China Metal Products		612
	1,329,340	*,e,m	China Metal Recycling Holdings Ltd		2
	10,095,248		China National Building Material Co Ltd		5,849
	1,056,000	e	China National Materials Co Ltd		256
	2,178,628	*	China Petrochemical Development Corp		574
	3,418,000	*,e	China Precious Metal Resources Holdings Co Ltd		135
	1,537,200	*	China Rare Earth Holdings Ltd		126
	8,078,058	e	China Resources Cement Holdings Ltd		3,698
	547,000	*,e	China Sanjiang Fine Chemicals		101
	6,683,200	e,m	China Shanshui Cement Group Ltd		4,068
	750,000	e	China Silver Group Ltd		185
	145,000		China Steel Chemical Corp		447
	12,699,442		China Steel Corp		7,421
	1,189,190		China Synthetic Rubber Corp		867
	1,232,000		China Vanadium Titano-Magnetite Mining Co Ltd		46

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	14,624,800	*	China Zenith Chemical Group Ltd	$	1,402
	538,000	*	Chongqing Iron & Steel Co Ltd		80
	114,819		Christian Hansen Holding		6,422
	208,000		Chugoku Marine Paints Ltd		1,317
	946,328		Chun Yuan Steel		265
	815,720	*	Chung Hung Steel Corp		103
	360,950	*	Chung Hwa Pulp Corp		112
	624,939		Cia de Minas Buenaventura S.A. (ADR) (Series B)		3,725
	546,568		Cia Siderurgica Nacional S.A.		540
	56,809		Ciech S.A.		1,086
	163,004		Cimsa Cimento Sanayi Ve Tica		800
	962,000	*	Citic Dameng Holdings		80
	2,108,154		Clariant AG.		35,506
	89,171	*	Clearwater Paper Corp		4,212
	961,941	e	Cliffs Natural Resources, Inc		2,347
	357,140	*,e	Coeur Mining, Inc		1,007
	346,283		Commercial Metals Co		4,692
	86,132	*,m	Companhia Vale do Rio Doce		0
	101,488		Compass Minerals International, Inc		7,954
	333,296	*	Constellium NV		2,020
	18,342	*	Core Molding Technologies, Inc		338
	107,366		Coromandel International Ltd		253
	366,000	e	CPMC Holdings Ltd		197
	2,030,891		CRH plc		53,612
	65,646		Croda International plc		2,694
	1,217,851	*	Crown Holdings, Inc		55,717
	1,503,898		CSR Ltd		3,072
	173,780	*,e,m	Cudeco Ltd		135
	205,915		Cytec Industries, Inc		15,207
	7,980,200		D&L Industries Inc		1,709
	326,000		Da Ming International Holdings Ltd		103
	549,907		Daicel Chemical Industries Ltd		6,751
	281,000	e	Daido Steel Co Ltd		891
	140,000		Daiken Corp		426
	97,857	e	Dainichiseika Color & Chemicals Manufacturing Co Ltd		418
	880,845		Dainippon Ink and Chemicals, Inc		1,976
	77,872	e	Daio Paper Corp		641
	66,000		Daiso Co Ltd		227
	16,546		Dalmia Bharat Ltd		164
	168,600	*	Danhua Chemical Technology Co Ltd		85
	21,073		DC Chemical Co Ltd		1,474
	28,323		Deltic Timber Corp		1,694
	1,481,000		Denki Kagaku Kogyo KK		5,844
	173,684	*,e	Detour Gold Corp		1,852
	10,699	*	Dhanuka Agritech Ltd		72
	282,290		Dominion Diamond Corp		3,016
	402,853		Domtar Corp		14,402
	48,784		Dongkuk Steel Mill Co Ltd		295
	748,000		Dongpeng Holdings Co Ltd		252
	84,718		Dongsung Finetec Co Ltd		433
	4,413,000		Dongyue Group		1,151
	5,738,148	e	Dow Chemical Co		243,297

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	259,000		Dowa Holdings Co Ltd	$	1,963
	1,141,350		DS Smith plc		6,818
	44,361		DSM NV		2,047
	687,819		Du Pont (E.I.) de Nemours & Co		33,153
	383,274		DuluxGroup Ltd		1,448
	99,350	*,e	Dundee Precious Metals, Inc		162
	74,896		Eagle Materials, Inc		5,124
	653,000		Eastern Polymer Group PCL		150
	472,575		Eastman Chemical Co		30,585
	199,291		Ecolab, Inc		21,866
	104,458		EID Parry India Ltd		210
	197,404	*	El Ezz Steel Co		230
	1,176,004		Eldorado Gold Corp		3,772
	789,811		Elementis plc		2,671
	2,539,886		Empresas CMPC S.A.		6,537
	14,973		EMS-Chemie Holding AG.		6,160
	171,431	e	Ence Energia y Celulosa S.A.		557
	610,900		Engro Chemical Pakistan Ltd		1,745
	5,244	*,e	Eramet		193
	2,053,922		Eregli Demir ve Celik Fabrikalari TAS		2,535
	1,774,533		Essentra plc		21,144
	1,605,880		Eternal Chemical Co Ltd		1,417
	35,500		Eugene Corp		157
	363,932		Everlight Chemical Industrial Corp		184
	1,711,443	e	Evolution Mining Ltd		1,524
	240,655	*,e	Evolva Holdings S.A.		252
	254,724		Evonik Industries AG.		8,529
	390,517		Evraz plc		431
	390,050		Feng Hsin Iron & Steel Co		431
	70,100		Ferbasa-Ferro Ligas DA Bahia		135
	450,525		Ferrexpo plc		242
	399,944	*	Ferro Corp		4,379
	272,552		Fibria Celulose S.A.		3,699
	29,982		Finolex Industries Ltd		119
	114,631	*,e	First Majestic Silver Corp		367
	835,849	e	First Quantum Minerals Ltd		3,063
	4,674,164		Fletcher Building Ltd		20,379
	138,309	*,e	Flotek Industries, Inc		2,310
	61,712		FMC Corp		2,093
	52,978	*	Foosung Co Ltd		174
	3,866,690		Formosa Chemicals & Fibre Corp		7,880
	5,364,088		Formosa Plastics Corp		11,345
	421,000		Formosan Rubber Group, Inc		230
	5,310,369	e	Fortescue Metals Group Ltd		6,855
	123,872	*,e	Fortuna Silver Mines, Inc		272
	169,791	m	Foshan Huaxin Packaging Co Ltd		208
	23,200	e	FP Corp		860
	231,144	e	Franco-Nevada Corp		10,186
	2,186,976		Freeport-McMoRan Copper & Gold, Inc (Class B)		21,192
	157,840	e	Fresnillo plc		1,414
	37,411		Frutarom Industries Ltd		1,416
	175,200		Fuchs Petrolub AG. (Preference)		7,754

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,755,200	e	Fufeng Group Ltd	$	1,526
	20,952		Fuji Seal International, Inc		605
	49,800		Fujimi, Inc		674
	22,400		Fujimori Kogyo Co Ltd		551
	1,531,000	e	Furukawa-Sky Aluminum Corp		2,454
	2,335,800	e	Fushan International Energy Group Ltd		291
	61,234	e	FutureFuel Corp		605
	286,601		Gem Diamonds Ltd		506
	2,609,607		Gerdau S.A. (Preference)		3,601
	16,930		Givaudan S.A.		27,548
	212,635		Glatfelter		3,662
	752,561	*	Gleichen Resources Ltd		705
	13,202,320		Glencore Xstrata plc		18,326
	181,667		Globe Specialty Metals, Inc		2,204
	394,192		Gloria Material Technology Corp		204
	761,000	e	Godo Steel Ltd		1,182
	89,145		Godrej Industries Ltd		474
	1,318,111		Gold Fields Ltd		3,470
	1,034,755	e	Goldcorp, Inc		12,972
	8,519,418		Goldsun Development & Construction Co Ltd		2,232
	929,000		Grand Pacific Petrochemical		426
	246,103	e	Granges AB		1,598
	2,781,239		Graphic Packaging Holding Co		35,572
	605,755	*,m	Great Basin Gold Ltd		5
	181,000		Great China Metal Industry		155
	2,470,000	e	Greatview Aseptic Packaging Co		1,153
	29,000		Green Seal Holding Ltd		101
	81,389		Greif, Inc (Class A)		2,597
	21,485,560		G-Resources Group Ltd		560
	317,996		Grupo Argos S.A.		1,843
	7,810,730		Grupo Mexico S.A. de C.V. (Series B)		18,907
	97,900	*,e	Grupo Simec SAB de C.V.		242
	85,757		Gubre Fabrikalari TAS		180
	33,234		Gujarat Flourochemicals		349
	137,577	*	Guyana Goldfields, Inc		369
	131,765		H.B. Fuller Co		4,472
	29,222		Han Kuk Carbon Co Ltd		142
	11,812		Hanil Cement Manufacturing		1,326
	8,409		Hansol Chemical Co Ltd		521
	19,676		Hansol Paper Co		122
	10,335	*	Hansol Paper Co Ltd		181
	126,477		Hanwha Chemical Corp		2,319
	45,246		Hanwha Corp		1,490
	511,307	*,e	Harmony Gold Mining Co Ltd		317
	27,658	e	Hawkins, Inc		1,065
	38,727		Haynes International, Inc		1,465
	417,586	*	Headwaters, Inc		7,851
	975,532	e	Hecla Mining Co		1,922
	70,671		HeidelbergCement AG.		4,853
	628,725		Hexpol AB		7,032
	1,240,136		Hindalco Industries Ltd		1,343
	133,182	e	Hitachi Chemical Co Ltd		1,838

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	370,934		Hitachi Metals Ltd	$	4,308
	728,837	*	Ho Tung Chemical Corp		157
	189,197	*,e	Hochschild Mining plc		200
	584,829	e	Hokuetsu Paper Mills Ltd		3,177
	376,418		Holcim Ltd		19,732
	49,784		Holmen AB (B Shares)		1,396
	26,345		Honam Petrochemical Corp		6,037
	3,684,000	*,e	Honbridge Holdings Ltd		504
	158,713	*,e	Horsehead Holding Corp		482
	2,765,000		Huabao International Holdings Ltd		878
	570,300	m	Hubei Sanonda Co Ltd		502
	23,316		Huchems Fine Chemical Corp		385
	230,449		HudBay Minerals, Inc		851
	208,155		Huhtamaki Oyj		6,361
	518,330		Huntsman Corp		5,023
	26,561		Hyosung Corp		2,537
	181,967		Hyundai Steel Co		7,932
	377,697	*	IAMGOLD Corp		617
	33,100		Ihara Chemical Industry Co Ltd		344
	890,361	e	Iluka Resources Ltd		3,912
	56,152		IMCD Group NV		1,934
	8,668		Imerys S.A.		557
	620,660	*,e	Impala Platinum Holdings Ltd		1,724
	72,809	*	Imperial Metals Corp		337
	2,252,936		Incitec Pivot Ltd		6,210
	887,989	e	Independence Group NL		1,589
	161,865	*	India Cements Ltd		193
	1,076,878		Indorama Ventures PCL (Foreign)		685
	153,700	*,e	Industrias CH SAB de C.V.		528
	155,080		Industrias Penoles S.A. de C.V.		2,114
	585,070		Inner Mongolia Eerduosi Resourses Co Ltd		497
	85,737		Innophos Holdings, Inc		3,399
	126,755		Innospec, Inc		5,895
	64,137	*	Interfor Corp		453
	125,421		International Flavors & Fragrances, Inc		12,951
	551,738		International Paper Co		20,850
	143,733	e	Intertape Polymer Group, Inc		1,537
	277,760	*,e	Intrepid Potash, Inc		1,539
	316,000	*	Ishihara Sangyo Kaisha Ltd		273
	229,177		Israel Chemicals Ltd		1,179
	3,213		Israel Corp Ltd		770
	192,400	e	Italcementi S.p.A.		2,136
	7,414	e	Italmobiliare S.p.A.		317
	15,662		Italmobiliare S.p.A. RSP		435
	549,300	*	Ivanhoe Mines Ltd		268
	103,570	*	Izmir Demir Celik Sanayi AS		63
	31,459	*,m	Jacana Minerals Ltd		5
	344,673		James Hardie Industries NV		4,161
	47,978	*	Jastrzebska Spolka Weglowa S.A.		144
	254,000		Jaya Tiasa Holdings BHD		74
	454,346		JFE Holdings, Inc		5,967
	1,690,230		Jiangxi Copper Co Ltd		2,061

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	109,740		Jindal Saw Ltd	$	107
	353,265		Jindal Steel & Power Ltd		327
	297,954	*,e	Jinshan Gold Mines, Inc		424
	16,154		JK Cement Ltd		161
	27,652		JK Lakshmi Cement Ltd		157
	90,033		Johnson Matthey plc		3,338
	13,300		JSP Corp		208
	280,865		JSR Corp		4,049
	104,697		JSW Steel Ltd		1,422
	606,305		K&S AG.		20,344
	50,743		Kaiser Aluminum Corp		4,072
	655,638		Kaneka Corp		4,828
	203,321		Kansai Nerolac Paints Ltd		749
	324,424		Kansai Paint Co Ltd		4,412
	333,656		Kapstone Paper and Packaging Corp		5,509
	108,553	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class A)		58
	657,106	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		270
	99,603	e	Kemira Oyj		1,150
	189,564		KGHM Polska Miedz S.A.		4,095
	1,805,592	*	Kinross Gold Corp		3,139
	282,836	*	Kirkland Lake Gold, Inc		1,176
	7,729		KISCO Corp		374
	21,136		KISWIRE Ltd		826
	600,968		Klabin S.A.		3,317
	2,552,700		Klabin S.A. (Preference)		2,737
	31,215		KMG Chemicals, Inc		602
	44,000		Koatsu Gas Kogyo Co Ltd		238
	3,197,798		Kobe Steel Ltd		3,467
	32,929		Kolon Corp		1,878
	16,882		Kolon Industries, Inc		894
	14,100		Konishi Co Ltd		244
	1,031		Konya Cimento Sanayii		95
	55,602		Koppers Holdings, Inc		1,122
	16,444		Korea Kumho Petrochemical		740
	20,761		Korea Petrochemical Ind Co Ltd		2,924
	13,056		Korea Zinc Co Ltd		5,134
	259,853		Koza Altin Isletmeleri AS		1,887
	155,458	*	Koza Anadolu Metal Madencilik Isletmeleri AS		107
	208,183	*	Kraton Polymers LLC		3,726
	53,847	e	Kronos Worldwide, Inc		334
	1,461,000	*,e	KuangChi Science Ltd		301
	22,912		Kukdo Chemical Co Ltd		1,340
	213,578	e	Kumba Iron Ore Ltd		1,215
	46,000	e	Kumiai Chemical Industry Co Ltd		326
	1,937		Kumkang Kind Co Ltd		112
	155,989		Kuraray Co Ltd		1,944
	181,000		Kureha CORP		651
	344,000		Kurimoto Ltd		534
	158,800	e	Kyoei Steel Ltd		2,493
	236,493	e	Labrador Iron Ore Royalty Corp		2,534

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	474,320		Lafarge Malayan Cement BHD	$	971
	161,407	*	LafargeHolcim Ltd		8,408
	1,404,688	*,e	Lake Shore Gold Corp		1,179
	683,771		Lanxess AG.		32,016
	424,000		Lee & Man Holding Ltd		180
	4,603,000		Lee & Man Paper Manufacturing Ltd		2,336
	516,448		LEE Chang Yung Chem IND Corp		362
	7,902		Lenzing AG.		593
	86,039		LG Chem Ltd		20,856
	9,896		LG Chem Ltd (Preference)		1,593
	373,958		Linde AG.		60,740
	41,500		Lintec Corp		873
	6,177		Lion Chemtech Co Ltd		79
	18,611		Lock & Lock Co Ltd		229
	1,373,901		Long Chen Paper Co Ltd		437
	7,725	*,e	Lonmin plc		2
	6,053,731	*,e	Louisiana-Pacific Corp		86,205
	51,978	*	LSB Industries, Inc		796
	606,008	e	Lucara Diamond Corp		681
	476,000		Luks Group Vietnam Holdings Ltd		147
	637,607	*,e	Lundin Mining Corp		1,801
	1,063,105		LyondellBasell Industries AF S.C.A		88,620
	83,193		Madras Cements Ltd		415
	55,154	*	MAG. Silver Corp		393
	161,300		Magnesita Refratarios S.A.		115
	27,808		Maharashtra Seamless Ltd		61
	77,132	e	Major Drilling Group International		257
	1,724,500		Maple Leaf Cement Factory Ltd		1,131
	91,725		Martin Marietta Materials, Inc		13,938
	155,424	e	Maruichi Steel Tube Ltd		3,518
	12,785		Mayr-Melnhof Karton AG.		1,476
	234,284	e	Metals X Ltd		198
	258,200		Metalurgica Gerdau S.A.		190
	162,873	e	Methanex Corp		5,397
	1,317,184		Mexichem SAB de C.V.		3,234
	1,086,000	e	Midas Holdings Ltd		203
	598,506	*,e	Minera Frisco SAB de C.V.		313
	184,273		Minerals Technologies, Inc		8,875
	16,307	e	Miquel y Costas & Miquel S.A.		542
	2,508,165		Mitsubishi Chemical Holdings Corp		13,097
	1,698,158		Mitsubishi Gas Chemical Co, Inc		7,839
	3,077,693		Mitsubishi Materials Corp		9,351
	317,000	*,e	Mitsubishi Paper Mills Ltd		207
	433,000		Mitsubishi Steel Manufacturing Co Ltd		794
	1,168,066	e	Mitsui Chemicals, Inc		3,744
	921,000		Mitsui Mining & Smelting Co Ltd		1,655
	180,286	*,e	Mittal Steel South Africa Ltd		111
	1,323,383	e	MMC Norilsk Nickel PJSC (ADR)		19,016
	2,028,000	e	MMG Ltd		383
	66,841		MOIL Ltd		201
	129,748		Mondi Ltd		2,720
	688,314		Mondi plc		14,426

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,981	*,m	Mongolian Metals Corporation	$	0
	998,451		Monsanto Co		85,208
	3,530		Monsanto India Ltd		140
	123,600		Mosaic Co		3,845
	197,296		Mpact Ltd		685
	1,328,240		M-real Oyj (B Shares)		7,489
	66,784		Myers Industries, Inc		895
	75,761	*	Mytilineos Holdings S.A.		394
	531,194	*,m	Nagarjuna Fertilizers & Chemicals		64
	187,000	*,e	Nakayama Steel Works Ltd		116
	111,789		Namhae Chemical Corp		885
	669,972		Nampak Ltd		1,246
	6,027,813		Nan Ya Plastics Corp		10,229
	263,910		Nantex Industry Co Ltd		217
	84,854		Neenah Paper, Inc		4,945
	28,200	e	Neturen Co Ltd		203
	465,797		Nevsun Resources Ltd		1,365
	497,956	*	New Gold, Inc		1,123
	1,201,021	*	Newcrest Mining Ltd		10,808
	44,060		NewMarket Corp		15,729
	1,854,472		Newmont Mining Corp		29,801
	8,558,950		Nickel Asia Corp		1,175
	41,300	e	Nihon Nohyaku Co Ltd		278
	85,000		Nihon Parkerizing Co Ltd		695
	2,592,684		Nine Dragons Paper Holdings Ltd		1,352
	298,300	*,e	Nippon Denko Co Ltd		537
	203,000	e	Nippon Kayaku Co Ltd		2,114
	637,900		Nippon Light Metal Holdings Co Ltd		954
	110,732	e	Nippon Paint Co Ltd		1,937
	480,300	e	Nippon Paper Industries Co Ltd		7,332
	47,400		Nippon Shokubai Co Ltd		3,223
	289,000		Nippon Soda Co Ltd		1,648
	793,820		Nippon Steel Corp		14,466
	47,810		Nippon Synthetic Chemical Industry Co Ltd		299
	142,500	*,e	Nippon Yakin Kogyo Co Ltd		179
	4,113	*	Nirvikara Paper Mills Ltd		2
	121,500		Nissan Chemical Industries Ltd		2,672
	326,700	e	Nisshin Steel Holdings Co Ltd		2,927
	195,000		Nittetsu Mining Co Ltd		776
	246,563		Nitto Denko Corp		14,767
	146,921	e	NOF Corp		1,008
	41,284	e	Norbord, Inc		592
	738,804		Norsk Hydro ASA		2,464
	8,220,000	*,e	North Mining Shares Co Ltd		97
	410,184	*	Northam Platinum Ltd		801
	572,875		Northern Star Resources Ltd		1,085
	404,181	*	Novagold Resources, Inc		1,463
	9,746		Novolipetsk Steel (GDR)		112
	593,452		Novozymes AS		25,900
	889,219		Nucor Corp		33,390
	905,882		Nufarm Ltd		5,204
	603,348		Nuplex Industries Ltd		1,503

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	276,240	*,e	Nyrstar	$	620
	86,450	*,m	Nyrstar (Strip VVPR)		0
	156,000	*	Ocean Plastics Co Ltd		143
	796,086	e	OceanaGold Corp		1,163
	71,265	*,e	OCI NV		1,828
	824,143		OJI Paper Co Ltd		3,537
	58,000	e	Okamoto Industries, Inc		549
	2,097,798	e	Olin Corp		35,264
	40,853		Olympic Steel, Inc		406
	79,642		OM Group, Inc		2,619
	61,558		Omnia Holdings Ltd		662
	122,873	*,e	Omnova Solutions, Inc		681
	655,588	e	Orica Ltd		6,958
	42,181		Orient Cement Ltd		102
	559,000		Oriental Union Chemical Corp		392
	1,925,155		Orora Ltd		3,142
	10,900		Osaka Steel Co Ltd		153
	111,541		Osisko Gold Royalties Ltd		1,179
	301,551	*,e	Outokumpu Oyj		696
	1,020,000		Overseas Chinese Town Asia Holdings Ltd		405
	177,120	*	Owens-Illinois, Inc		3,670
	1,659,042		Oxiana Ltd		3,896
	144,507	*,e	Pacific Metals Co Ltd		334
	13,800		Pack Corp		305
	578,698		Packaging Corp of America		34,814
	534,088		Pact Group Holdings Ltd		1,787
	161,636	e	Pan American Silver Corp		1,027
	111,473		Papeles y Cartones de Europa S.A.		536
	498,900	*	Paranapanema S.A.		259
	52,319		Park Elektrik Madencilik Sanayi Ve Ticaret AS		64
	289,382		Petkim Petrokimya Holding		383
	431,996	*	Petra Diamonds Ltd		551
	3,395,063		Petronas Chemicals Group BHD		4,748
	322,462		PhosAgro OAO (ADR)		4,461
	76,049		PI Industries Ltd		739
	264,041	*,m	Pike River Coal Ltd		0
	237,594	*	Platform Specialty Products Corp		3,006
	228,943		PolyOne Corp		6,717
	6,796		Poongsan		233
	146,513		Poongsan Corp		3,115
	716,782		Portucel Empresa Produtora de Pasta e Papel S.A.		2,491
	136,516		POSCO		19,303
	61,342		POSCO Refractories & Environment Co Ltd		621
	1,977,533		Potash Corp of Saskatchewan		40,647
	551,673		PPC Ltd		681
	1,884,609		PPG Industries, Inc		165,261
	203,570		Praxair, Inc		20,736
	148,708	*,e	Premier Gold Mines Ltd		251
	1,575,100		Press Metal BHD		740
	110,619	*,e	Pretium Resources, Inc		670
	153,535	*	Primero Mining Corp		359
	103,835	*	Prism Cement Ltd		142

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,906,500		PT Aneka Tambang Tbk	$	97
	13,153,200	*	PT Hanson International Tbk		625
	1,234,900		PT Holcim Indonesia Tbk		85
	1,826,920		PT Indocement Tunggal Prakarsa Tbk		2,057
	3,848,800	*	PT Krakatau Steel Tbk		82
	8,218,300	*	PT Sekawan Intipratama Tbk		118
	3,642,589		PT Semen Gresik Persero Tbk		2,253
	2,661,657		PT Timah Tbk		117
	2,160,100		PT Wijaya Karya Beton Tbk		115
	7,089,426		PTT Global Chemical PCL (Foreign)		10,532
	21,714		Qatar National Cement Co		627
	28,786		Qatari Investors Group		345
	34,890		Quaker Chemical Corp		2,689
	38,775		Rallis India Ltd		130
	103,406		Randgold Resources Ltd		6,093
	9,550		Ratnamani Metals & Tubes Ltd		90
	105,128	e	Rayonier Advanced Materials, Inc		643
	64,314	*,e	Real Industry, Inc		567
	337,560	e	Regis Resources Ltd		427
	164,775		Reliance Steel & Aluminum Co		8,900
	672,767	e	Rengo Co Ltd		2,600
	62,560	*,e	Rentech, Inc		350
	63,260	*,e	Resolute Forest Products		526
	1,201,370		Rexam plc		9,539
	25,531	e	RHI AG.		516
	646,665		Rio Tinto Ltd		22,248
	1,919,214		Rio Tinto plc		64,396
	1,319,200	*	Romarco Minerals, Inc		465
	47,666		Rotam Global Agrosciences Ltd		42
	80,358	*,e	Royal Bafokeng Platinum Ltd		140
	141,233		Royal Gold, Inc		6,635
	358,665		RPC Group plc		3,441
	482,695		RPM International, Inc		20,220
	361,440	*,e	Rubicon Minerals Corp		260
	31,299	*,e	Ryerson Holding Corp		164
	18,007		Sa des Ciments Vicat		1,125
	236,000		Sakai Chemical Industry Co Ltd		663
	37,100		Sakata INX Corp		296
	148,001		Salzgitter AG.		3,676
	2,450		Sam Kwang Glass Ind Co Ltd		204
	62,208		Samsung Fine Chemicals Co Ltd		2,118
	365,681		San Fang Chemical Industry Co Ltd		523
	142,592	e	Sandfire Resources NL		545
	120,156	*,e	Sandstorm Gold Ltd		320
	141,000		Sanyo Chemical Industries Ltd		947
	429,000		Sanyo Special Steel Co Ltd		1,632
	1,364,421	*	Sappi Ltd		4,190
	387,194		Satipel Industrial S.A.		574
	538,693	*,e	Schmolz + Bickenbach AG.		343
	216,574		Schnitzer Steel Industries, Inc (Class A)		2,932
	188,760		Schweitzer-Mauduit International, Inc		6,490
	142,500		Scientex BHD		231

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	218,400		Scotts Miracle-Gro Co (Class A)	$	13,283
	38,467	*,e	Seabridge Gold, Inc		224
	60,241		Seah Besteel Corp		1,535
	1,091		SeAH Holdings Corp		178
	13,315		SeAH Steel Corp		777
	1,759,365		Sealed Air Corp		82,479
	1,714,000	e	Sekisui Plastics Co Ltd		5,482
	297,886	*	SEMAFO, Inc		645
	57,318		Semapa-Sociedade de Investimento e Gestao		744
	121,028	*,e	Senomyx, Inc		540
	135,400		Sensient Technologies Corp		8,300
	1,829,477		Sesa Sterlite Ltd		2,375
	591,545		Severstal (GDR)		6,277
	2,223,000		Shandong Chenming Paper Holdings Ltd		861
	2,740,029		Shandong Chenming Paper Holdings Ltd (Class B)		1,329
	373,400		Shanghai Chlor-Alkali Chemical Co Ltd		219
	160,987		Shanghai Yaohua Pilkington Glass Co Ltd		89
	18,464		Sharda Cropchem Ltd		80
	520,000		Sheen Tai Holdings Grp Co Ltd		69
	363,000		Sheng Yu Steel Co Ltd		193
	311,247	e	Sherritt International Corp		175
	297,385		Sherwin-Williams Co		66,251
	233,000	*	Shihlin Paper Corp		210
	34,000		Shikoku Chemicals Corp		287
	595,637		Shin-Etsu Chemical Co Ltd		30,547
	97,800		Shin-Etsu Polymer Co Ltd		444
	1,311,032		Shinkong Synthetic Fibers Corp		345
	58,684		Shiny Chemical Industrial Co Ltd		71
	4,758,000	*,e	Shougang Concord International Enterprises Co Ltd		201
	1,506,000		Showa Denko KK		1,653
	17,539		Shree Cement Ltd		3,137
	108,600		Siam Cement PCL (ADR)		1,390
	566,916		Siam Cement PCL (Foreign)		7,286
	1,907,029		Sibanye Gold Ltd		2,168
	281,280		Sidi Kerir Petrochemcials Co		468
	144,243		Sigma-Aldrich Corp		20,038
	1,131,000	*,m	Sijia Group Co		1
	1,087		Sika AG.		3,353
	148,245		Silgan Holdings, Inc		7,715
	89,337	*	Silver Standard Resources, Inc		582
	343,630		Silver Wheaton Corp		4,130
	257,958	e	Sims Group Ltd		1,760
	8,584,000		Sinofert Holdings Ltd		1,282
	4,882,798		Sinopec Shanghai Petrochemical Co Ltd		1,872
	14,883		SK Chemicals Co Ltd		927
	121,693		SKC Co Ltd		3,930
	12,081	*	SKCKOLONPI, Inc		117
	870,210		Smurfit Kappa Group plc		23,445
	115,180		Sociedad Quimica y Minera de Chile S.A. (Class B)		1,672
	5,721		SODIFF Advanced Materials Co Ltd		443
	287,478		Solar Applied Materials Technology Co		165
	56,897	e	Solvay S.A.		5,815

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	113,910		Sonoco Products Co	$	4,299
	221,034		South Valley Cement		113
	3,045,085	*	South32 Ltd		2,943
	452,383	*	South32 Ltd (W/I)		434
	1,165,370	e	Southern Copper Corp (NY)		31,139
	210,041	*,e	Ssab Svenskt Stal AB (Series A)		721
	181,229	*,e	Ssab Svenskt Stal AB (Series B)		548
	81,238	*	Ssangyong Cement Industrial Co Ltd		1,346
	1,558,665		Steel Dynamics, Inc		26,778
	62,800		Stella-Jones, Inc		2,025
	100,485		Stepan Co		4,181
	424,786	*,e	Stillwater Mining Co		4,388
	5,251		STO AG.		754
	245,190	e	Stora Enso Oyj (R Shares)		1,855
	1,243,221	e	Sumitomo Bakelite Co Ltd		4,568
	2,875,511		Sumitomo Chemical Co Ltd		14,541
	1,124,437		Sumitomo Metal Mining Co Ltd		12,773
	603,193		Sumitomo Osaka Cement Co Ltd		2,142
	38,000		Sumitomo Seika Chemicals Co Ltd		243
	17,812	e	Sumitomo Titanium Corp		468
	79,578	*	Summit Materials, Inc		1,494
	379,107		SunCoke Energy, Inc		2,949
	4,450,000	*,e,m	Superb Summit International Group Ltd		729
	7,326,700	*	Superblock PCL-Foreign		317
	686,056		Suzano Papel e Celulose S.A.		3,338
	55,000		Swancor Ind Co Ltd		291
	166,778		Symrise AG.		10,049
	167,284		Syngenta AG.		53,600
	1,314,070		Synthos S.A.		1,308
	147,060	*,e	Syrah Resources Ltd		256
	376,400		Ta Ann Holdings BHD		317
	1,909,493		TA Chen Stainless Pipe		871
	709		Taekwang Industrial Co Ltd		717
	598,513		Tahoe Resources, Inc		4,632
	173,558		Tahoe Resources, Inc (Toronto)		1,341
	1,303,516		Taiheiyo Cement Corp		3,906
	3,682,290		Taiwan Cement Corp		3,744
	1,065,960		Taiwan Fertilizer Co Ltd		1,332
	245,725		Taiwan Hon Chuan Enterprise Co Ltd		353
	425,329		Taiwan Styrene Monomer		175
	15,900		Taiyo Ink Manufacturing Co Ltd		487
	249,933	e	Taiyo Nippon Sanso Corp		2,374
	32,800		Takasago International Corp		802
	39,000	e	Takiron Co Ltd		160
	334,305		Tata Steel Ltd		1,085
	1,332,000	e	TCC International Holdings Ltd		248
	9,125		Technosemichem Co Ltd		332
	877,894		Teck Cominco Ltd		4,190
	8,856,018		Teijin Ltd		26,900
	25,641		Ten Cate NV		696
	36,800	e	Tenma Corp		604
	30,366	*	Tessenderlo Chemie NV		892

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	253,038	e	TFS Corp Ltd	$	272
	211,426	*,e	Thompson Creek Metals Co, Inc (Toronto)		98
	317,275		Thye Ming Industrial Co Ltd		283
	438,305		ThyssenKrupp AG.		7,702
	6,490,000	e	Tiangong International Co Ltd		589
	104,707	e	TimkenSteel Corp		1,060
	54,365		Titan Cement Co S.A.		1,238
	115,000		Toagosei Co Ltd		836
	31,600	*,e	Toho Titanium Co Ltd		377
	169,000	e	Toho Zinc Co Ltd		388
	635,000	e	Tokai Carbon Co Ltd		1,524
	622,000	e	Tokuyama Corp		1,016
	44,100		Tokyo Ohka Kogyo Co Ltd		1,169
	129,796	*,e	Tokyo Rope Manufacturing Co Ltd		187
	99,100		Tokyo Steel Manufacturing Co Ltd		542
	660,750		Ton Yi Industrial Corp		321
	23,129	*	Tongyang Cement & Energy Corp		113
	187,000	e	Topy Industries Ltd		386
	488,572		Toray Industries, Inc		4,224
	1,041,000	e	Tosoh Corp		5,010
	644,000		Toyo Ink Manufacturing Co Ltd		2,358
	39,800		Toyo Kohan Co Ltd		119
	122,041	e	Toyo Seikan Kaisha Ltd		1,943
	1,789,676		Toyobo Co Ltd		2,430
	83,597	*,e	Trecora Resources		1,038
	82,982		Tredegar Corp		1,085
	36,243	*,e	Trinseo S.A.		915
	259,091	e	Tronox Ltd		1,132
	583,597		TSRC Corp		353
	102,585	e	Tubacex S.A.		217
	105,984	e	Tubos Reunidos S.A.		102
	1,501,000		Tung Ho Steel Enterprise Corp		785
	1,291,016	*	Turquoise Hill Resources Ltd		3,299
	4,510,647		UBE Industries Ltd		7,862
	63,901		Ultra Tech Cement Ltd		2,605
	23,521		Umicore		907
	15,621		Unid Co Ltd		744
	332,579		United Phosphorus Ltd		2,331
	5,964	e	United States Lime & Minerals, Inc		272
	296,386	e	United States Steel Corp		3,088
	330,520		Universal Cement Corp		207
	721,532		UPC Technology Corp		202
	2,050,308		UPM-Kymmene Oyj		30,777
	168,064		Uralkali (GDR)		2,497
	50,474	*,e	US Concrete, Inc		2,412
	724,870		USI Corp		299
	386,082		Usinas Siderurgicas de Minas Gerais S.A. (Preference)		326
	2,367,707		Vale S.A.		9,902
	3,095,350		Vale S.A. (Preference)		10,400
	39,058	e	Valhi, Inc		74
	46,878	e	Valspar Corp		3,370
	79,502	e	Vedanta Resources plc		512

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	441		Vetropack Holding AG.	$	712
	234,493		Victrex plc		6,293
	10,921		Vinati Organics Ltd		76
	304,270	e	Voestalpine AG.		10,462
	166,136		Vulcan Materials Co		14,819
	241,778	e	Wacker Chemie AG.		18,390
	118,964		Wausau Paper Corp		761
	1,978,000	e	West China Cement Ltd		269
	186,965		West Fraser Timber Co Ltd		5,940
	206,486	e	Western Areas NL		315
	1,125,226	e	Western Forest Products, Inc		1,518
	371,148		Westlake Chemical Corp		19,259
	1,180,346		WestRock Co		60,717
	7,252	*	WHX Corp		174
	146,595	*	Worthington Industries, Inc		3,882
	974,275	*	WR Grace & Co		90,656
	723,000	*	Xinjiang Xinxin Mining Industry Co Ltd		77
	1,590,369	e	Yamana Gold, Inc		2,681
	38,000		Yamato Kogyo Co Ltd		762
	398,469		Yara International ASA		15,896
	54,391		Yeong Guan Energy Technology Group Co Ltd		287
	1,258,000		Yeun Chyang Industrial Co Ltd		672
	1,058,637		Yieh Phui Enterprise		228
	1,075,670		Yingde Gases		445
	542,000		Yip’s Chemical Holdings Ltd		225
	22,000	e	Yodogawa Steel Works Ltd		411
	5,939		Youlchon Chemical Co Ltd		62
	1,459,285		Yuen Foong Yu Paper Manufacturing Co Ltd		455
	685,469		Yule Catto & Co plc		3,532
	155,000		Yung Chi Paint & Varnish Manufacturing Co Ltd		299
	42,333		Zaklady Azotowe w Tarnowie-Moscicach S.A.		986
	317,512		Zeon Corp		2,507
	858,000	e	Zhaojin Mining Industry Co Ltd		451
	20,155		Zignago Vetro S.p.A.		125
	22,484,220	e	Zijin Mining Group Co Ltd		5,899
			TOTAL MATERIALS		4,737,948
MEDIA - 3.2%
	1,796,890		ABS-CBN Holdings Corp (ADR)		2,349
	25,500	e	Adways, Inc		160
	19,100		AH Belo Corp (Class A)		94
	173,307		Aimia, Inc		1,517
	11,260,000	*,e	Alibaba Pictures Group Ltd		2,516
	449,704	*	Altice NV (Class A)		9,409
	74,488	*	Altice NV (Class B)		1,662
	66,155		AMC Entertainment Holdings, Inc		1,666
	760,823	*	AMC Networks, Inc		55,669
	66,452	e	Antena 3 de Television S.A.		846
	857,448	*	APN News & Media Ltd		297
	103,500		Asatsu-DK, Inc		2,329
	6,275,400		Asian Pay Television Trust		3,465
	2,863,445		Astro Malaysia Holdings BHD		1,836

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	34,359		Avex Group Holdings, Inc	$	390
	44,804		Axel Springer AG.		2,505
	1,395,823		BEC World PCL (Foreign)		1,232
	119,801	*	Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS		80
	74,002	e	Borussia Dortmund GmbH & Co KGaA		337
	3,671	*	Cable One, Inc		1,540
	260,138		Cablevision Systems Corp (Class A)		8,447
	23,184	e	Cairo Communication S.p.A.		111
	64,019	*	Carmike Cinemas, Inc		1,286
	2,191,389		CBS Corp (Class B)		87,436
	68,462	*	Central European Media Enterprises Ltd (Class A)		145
	196,591	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		425
	260,271	*,e	Charter Communications, Inc		45,769
	84,711	*	Cheil Communications, Inc		1,309
	245,978		Cinemark Holdings, Inc		7,992
	62,160	e	Cineplex Galaxy Income Fund		2,209
	377,499		Cineworld Group plc		3,175
	434,000	*	City Telecom (HK) Ltd		92
	12,403		CJ CGV Co Ltd		1,104
	23,462	*	CJ E&M Corp		1,817
	28,983		CJ Hellovision Co Ltd		275
	34,310		Clear Channel Outdoor Holdings, Inc (Class A)		245
	58,516		Cogeco Cable, Inc		2,828
	10,273,203		Comcast Corp (Class A)		584,340
	844,146	e	Comcast Corp (Special Class A)		48,319
	169,382	*,e	Corus Entertainment, Inc		1,791
	120,485	*,e	Crown Media Holdings, Inc (Class A)		645
	42,614	e	CTS Eventim AG.		1,581
	85,500	e	CyberAgent, Inc		3,345
	138,606		Cyfrowy Polsat S.A.		853
	48,400		Daiichikosho Co Ltd		1,715
	3,635	*,e	Daily Journal Corp		677
	743,995		Daily Mail & General Trust		8,488
	15,490	*	DEN Networks Ltd		29
	210,455		Dentsu, Inc		10,801
	250,343	*,e	Discovery Communications, Inc (Class A)		6,516
	512,675	*	Discovery Communications, Inc (Class C)		12,453
	817,815	*	DISH Network Corp (Class A)		47,711
	194,137	*,e	DreamWorks Animation SKG, Inc (Class A)		3,388
	4,418,500		E for L Aim PCL		129
	63,143	*	Entercom Communications Corp (Class A)		642
	204,079		Entertainment One Ltd		767
	253,472		Entravision Communications Corp (Class A)		1,683
	680,722	*,e	Eros International plc		18,509
	4,000,000	*	eSun Holdings Ltd		351
	101,790		Eutelsat Communications		3,122
	152,946		EW Scripps Co (Class A)		2,703
	6,241	*	Fenerbahce Sportif Hizmetleri Sanayi ve Ticaret AS		79
	354,000		Fuji Television Network, Inc		4,125
	272,399	e	Gannett Co, Inc		4,012
	862,234	e	Gestevision Telecinco S.A.		9,426

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	116,962	*,e	Global Eagle Entertainment, Inc	$	1,343
	202,034	*	Gray Television, Inc		2,578
	3,139,612	e	Grupo Televisa S.A.		16,381
	117,315	*,e	Gruppo Editoriale L’Espresso S.p.A.		118
	291,301		Hakuhodo DY Holdings, Inc		2,762
	243,534		Harte-Hanks, Inc		860
	164,704		Havas S.A.		1,346
	34,797	*,e	Hemisphere Media Group, Inc		473
	25,822		Hyundai Hy Communications & Network Co		77
	475,625	*	IBN18 Broadcast Ltd		256
	235,340	*,e	Imax Corp		7,952
	785,133		Informa plc		6,685
	60,336	*	Innocean Worldwide, Inc		3,013
	4,848,276		Interpublic Group of Cos, Inc		92,748
	97,449		IPSOS		1,914
	328,041		ITE Group plc		700
	8,646,798		ITV plc		32,222
	142,654		Jagran Prakashan Ltd		309
	628,762		JC Decaux S.A.		22,856
	7,308,437		John Fairfax Holdings Ltd		4,569
	140,262		John Wiley & Sons, Inc (Class A)		7,017
	63,137		Journal Media Group, Inc		474
	431,999	*,e	Juventus Football Club S.p.A.		119
	5,965	*	Kabel Deutschland Holding AG.		778
	48,632	*,e	Kadokawa Dwango Corp		646
	14,631		Kinepolis Group NV		569
	21,383		KT Skylife Co Ltd		368
	61,257		Lagardere S.C.A.		1,697
	93,200	*,e	Lee Enterprises, Inc		194
	43,778	*	Liberty Broadband Corp (Class A)		2,252
	104,949	*	Liberty Broadband Corp (Class C)		5,370
	56,310	*	Liberty Global plc		2,310
	363,303	*	Liberty Global plc (Class A)		15,600
	75	*	Liberty Global plc LiLAC (Class A)		3
	287	*	Liberty Global plc LiLAC (Class C)		10
	167,568	*	Liberty Media Corp		5,986
	324,113	*	Liberty Media Corp (Class C)		11,169
	559,275	e	Lions Gate Entertainment Corp		20,581
	354,950	*	Live Nation, Inc		8,533
	19,445		Loen Entertainment, Inc		1,316
	32,975	*	Loral Space & Communications, Inc		1,552
	143,677		M6-Metropole Television		2,748
	135,128	*	Madison Square Garden, Inc		9,748
	397,300		Major Cineplex Group PCL-Foreign		350
	81,413	*	Martha Stewart Living Omnimedia, Inc (Class A)		485
	80,700	*,e	McClatchy Co (Class A)		78
	361,002	e	MDC Partners, Inc		6,653
	282,403	*,e	Media General, Inc		3,951
	1,707,800		Media Prima BHD		466
	3,174,348		Mediaset S.p.A.		14,613
	2,640,000	*	Mei Ah Entertainment Group Ltd		304
	99,029	e	Meredith Corp		4,217

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	57,365	e	Modern Times Group AB (B Shares)	$	1,477
	82,217		Morningstar, Inc		6,599
	207,400		Multiplus S.A.		1,672
	810,959		Naspers Ltd (N Shares)		101,635
	200,918		National CineMedia, Inc		2,696
	265,261		New Media Investment Group, Inc		4,101
	351,866		New York Times Co (Class A)		4,156
	101,621	*	News Corp		1,282
	28,331		News Corp (Class B)		363
	79,720		Nexstar Broadcasting Group, Inc (Class A)		3,775
	54,900		Next Co Ltd		434
	8,406		NextRadioTV		341
	652,371	e	Nine Entertainment Co Holdings Ltd		724
	89,612	*	Numericable SAS		4,148
	228,946		Omnicom Group, Inc		15,088
	440,807		Pearson plc		7,535
	1,182,000	e	Phoenix Satellite Television Holdings Ltd		252
	966,100	*	Plan B Media PCL		153
	77,600	e	Poly Culture Group Corp Ltd		164
	51,714	*,e	Promotora de Informaciones S.A.		194
	811,672		ProSiebenSat. Media AG.		39,841
	10,000		Proto Corp		125
	40,945,100		PT Bhakti Investama Tbk		558
	7,172,534		PT Global MediaCom Tbk		462
	5,127,063		PT Media Nusantara Citra Tbk		576
	619,782		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		5,119
	5,183,875		PT Surya Citra Media Tbk		975
	6,492,500	*	PT Visi Media Asia Tbk		142
	157,778		Publicis Groupe S.A.		10,783
	16,731		PVR Ltd		208
	84,585	e	Quebecor, Inc		1,851
	104,299	g	RAI Way S.p.A		499
	227,728	*,e	RCS MediaGroup S.p.A.		228
	106,146	e	REA Group Ltd		3,324
	54,008	*	Reading International, Inc		684
	4,110,194		Reed Elsevier NV		67,148
	2,551,661		Reed Elsevier plc		43,765
	74,160	e	Regal Entertainment Group (Class A)		1,386
	164,366	*,e	Rentrak Corp		8,887
	274,825		Rightmove plc		15,200
	407,000		RS PCL		118
	270,348		RTL Group		23,306
	12,081	e	Saga Communications, Inc		406
	80,594	e	Sanoma-WSOY Oyj		298
	36,431		SBS Media Holdings Co Ltd		123
	74,577		Schibsted ASA		2,529
	93,278	*	Schibsted ASA (B Shares)		2,947
	69,311		Scholastic Corp		2,700
	250,201	e	Scripps Networks Interactive (Class A)		12,307
	344,157		SES Global S.A.		10,861
	764,164	*,e	Shaw Communications, Inc (B Shares)		14,797

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	94,000	e	Shochiku Co Ltd	$	791
	170,953	e	Sinclair Broadcast Group, Inc (Class A)		4,329
	1,268,201	e	Singapore Press Holdings Ltd		3,423
	1,362,000	e	SinoMedia Holding Ltd		444
	102,364	e	Sirius XM Canada Holdings, Inc		378
	7,446,630	*,e	Sirius XM Holdings, Inc		27,850
	61,072	*	Sizmek, Inc		366
	1,198,860		Sky Network Television Ltd		3,573
	249,800		Sky Perfect Jsat Corp		1,174
	13,508,550		Sky plc		213,719
	14,460	*	SM Entertainment Co		487
	4,128,000	e	SMI Holdings Group Ltd		348
	212,000		Smiles S.A.		1,607
	850,125		Societe Television Francaise 1		11,956
	1,056,525	*,e	Solocal Group		270
	1,635,473	e	Southern Cross Media Group		1,029
	267,800		Star Publications Malaysia BHD		149
	523,472	*	Starz-Liberty Capital		19,546
	82,974		Stroer Out-of-Home Media AG.		4,890
	202,567		TEGNA, Inc		4,535
	71,332	*	Telenet Group Holding NV		4,098
	321,243		Television Broadcasts Ltd		1,072
	1,648,781	*,e	Ten Network Holdings Ltd		209
	572,724		Thomson Corp		23,058
	475,577		Thomson Corp (Toronto)		19,116
	754,707		Time Warner Cable, Inc		135,372
	4,193,002		Time Warner, Inc		288,269
	385,734		Time, Inc		7,348
	149,800	e	Toei Animation Co Ltd		5,610
	814,885		Toei Co Ltd		6,412
	88,923		Toho Co Ltd		2,027
	138,200		Tohokushinsha Film Corp		1,017
	175,400		Tokyo Broadcasting System, Inc		2,354
	1,104,000	*	Tom Group Ltd		282
	18,307	*,e	Townsquare Media, Inc		179
	622,403		Tribune Co		22,158
	140,738	e	Tribune Publishing Co		1,103
	517,822		Trinity Mirror plc		1,182
	87,300		TV Asahi Corp		1,335
	954,600	e	TV Azteca S.A. de C.V.		151
	2,534,494		Twenty-First Century Fox, Inc		68,381
	813,426		Twenty-First Century Fox, Inc (Class B)		22,019
	560,091		United Business Media Ltd		4,124
	109,146	*	Usen Corp		273
	2,183,000		VGI Global Media PCL		211
	17,481		Viacom, Inc		774
	2,210,064		Viacom, Inc (Class B)		95,364
	442,925	*	Videocon d2h Ltd (ADR)		4,274
	89,140		Village Roadshow Ltd		438
	2,421,600	*	Viva China Holdings Ltd		264
	930,784		Vivendi Universal S.A.		22,052
	5,835,722		Walt Disney Co		596,411

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,171,714	e	West Australian Newspapers Holdings Ltd	$	612
	601,000	e	Wisdom Holdings Group		257
	64,049	e	Wolters Kluwer NV		1,975
	18,750	*	Woongjin Thinkbig Co Ltd		131
	87,000		Workpoint Entertainment PCL		102
	75,804	e	World Wrestling Entertainment, Inc (Class A)		1,281
	5,500	*	Wowow, Inc		150
	3,362,124		WPP plc		69,996
	30,460	*	Yellow Pages Ltd		364
	8,832		YG Entertainment, Inc		390
	493,007	*	Zee Entertainment Enterprises Ltd		801
	789,042		ZEE Telefilms Ltd		4,739
	26,600	e	Zenrin Co Ltd		359
			TOTAL MEDIA		3,509,983
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.9%
	17,800	*,e	3-D Matrix Ltd		158
	14,393	*,e	AB Science S.A.		199
	6,849,562		AbbVie, Inc		372,685
	203,420		Abcam plc		1,789
	26,056	*,e	Abeona Therapeutics, Inc		106
	46,873	*,e	Ablynx NV		604
	234,433	*,e	Acadia Pharmaceuticals, Inc		7,753
	54,875	*,e	Accelerate Diagnostics, Inc		888
	55,193	*,e	Acceleron Pharma, Inc		1,374
	391,852	*,e	Achillion Pharmaceuticals, Inc		2,708
	142,336	*	Acorda Therapeutics, Inc		3,773
	124,505		Actelion Ltd		15,824
	27,337	*,e	Adamas Pharmaceuticals, Inc		458
	42,394		Adcock Ingram Holdings Ltd		153
	128,000	*	Adimmune Corp		85
	30,931	*	Adocia		2,662
	21,347	*,e	Aduro Biotech, Inc		413
	78,147	*,e	Advaxis, Inc		799
	62,917	*,e	Aegerion Pharmaceuticals, Inc		856
	95,744	*,e	Aerie Pharmaceuticals, Inc		1,698
	43,069	*,e	Affimed NV		266
	282,745	*,e	Affymetrix, Inc		2,415
	331,353	*,e	Agenus, Inc		1,524
	24,883	*,e	Agile Therapeutics, Inc		168
	1,584,428		Agilent Technologies, Inc		54,393
	47,103	*,e	Agios Pharmaceuticals, Inc		3,325
	25,717	*	Aimmune Therapeutics, Inc		651
	25,454		Ajanta Pharma Ltd		575
	66,156	*,e	Akebia Therapeutics, Inc		639
	143,031	*,e	Akorn, Inc		4,077
	66,808	*,e	Albany Molecular Research, Inc		1,164
	58,540	*	Alder Biopharmaceuticals, Inc		1,918
	90,079		Alembic Pharmaceuticals Ltd		938
	872,963	*	Alexion Pharmaceuticals, Inc		136,523
	76,196	*,e	Alimera Sciences, Inc		168
	5,904	e	ALK-Abello AS		677

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	244,472	*	Alkermes plc	$	14,343
	1,922,382	*	Allergan plc		522,523
	129,371	*	Alnylam Pharmaceuticals, Inc		10,396
	94,209	*,e	AMAG Pharmaceuticals, Inc		3,743
	2,898,802		Amgen, Inc		400,962
	5,931		Amicogen, Inc		417
	295,823	*	Amicus Therapeutics, Inc		4,139
	81,911	*,e	Amphastar Pharmaceuticals, Inc		958
	179,177	*,e	Anacor Pharmaceuticals, Inc		21,091
	30,271	*,e	ANI Pharmaceuticals, Inc		1,196
	184,595	*,e	Anthera Pharmaceuticals, Inc		1,124
	21,276	*,e	Applied Genetic Technologies Corp		280
	77,027	*,e	Aratana Therapeutics, Inc		652
	40,695	*,e	Ardelyx, Inc		703
	718,761	*,e	Arena Pharmaceuticals, Inc		1,373
	623,723	*,e	Ariad Pharmaceuticals, Inc		3,643
	360,624	*,e	Array Biopharma, Inc		1,644
	146,813	*,e	Arrowhead Research Corp		846
	136,683		Ascendis Health Ltd		160
	21,500		ASKA Pharmaceutical Co Ltd		234
	457,738		Aspen Pharmacare Holdings Ltd		9,740
	35,409	*,e	Assembly Biosciences, Inc		339
	2,006,503		Astellas Pharma, Inc		25,972
	29,496	*,e	Asterias Biotherapeutics, Inc		114
	5,855	*	AstraZeneca Pharma India Ltd		104
	1,626,311		AstraZeneca plc		103,138
	312,300	e	AstraZeneca plc (ADR)		9,937
	64,607	*,e	Atara Biotherapeutics, Inc		2,031
	14,616	*,e	aTyr Pharma, Inc		150
	646,387		Aurobindo Pharma Ltd		7,597
	95,012	*,e	Avalanche Biotechnologies, Inc		783
	32,600	*	Axovant Sciences Ltd		421
	9,397	*,e	Basilea Pharmaceutica		904
	56,095	*,e	Bavarian Nordic AS		2,229
	1,457,986	*	Baxalta, Inc		45,941
	1,303,772		Bayer AG.		167,272
	245,000	e	Beijing Tong Ren Tang Chinese Medicine Co Ltd		271
	21,465	*,e	Bellicum Pharmaceuticals, Inc		312
	19,541	*	Binex Co Ltd		280
	141,204		Biocon Ltd		960
	283,976	*,e	BioCryst Pharmaceuticals, Inc		3,237
	116,935	*,e	BioDelivery Sciences International, Inc		650
	28,500		Biogaia AB (B Shares)		944
	903,220	*	Biogen Idec, Inc		263,569
	755,766	*	BioMarin Pharmaceutical, Inc		79,597
	72,054	*	Bio-Rad Laboratories, Inc (Class A)		9,678
	43,650	*	Biospecifics Technologies Corp		1,901
	94,758		Bio-Techne Corp		8,761
	6,201		Biotest AG.		125
	20,055		Biotest AG. (Preference)		420
	142,584	*,e	BioTime, Inc		428
	155,095	*	Biovail Corp		27,666

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,518,881	*	Biovitrum AB	$	20,076
	68,128	*	Bluebird Bio, Inc		5,828
	25,004	*,e	Blueprint Medicines Corp		534
	17,235		Boiron S.A.		1,662
	18,534		Boryung Pharmaceutical Co Ltd		938
	4,958,915		Bristol-Myers Squibb Co		293,568
	261,100	*	Bruker BioSciences Corp		4,290
	376,597	*	BTG plc		3,727
	48,551		Bukwang Pharmaceutical Co Ltd		923
	27,981	*,e	Calithera Biosciences, Inc		152
	185,796	*	Cambrex Corp		7,372
	87,856	*	Cara Therapeutics Inc		1,255
	44,559	*,e	Carbylan Therapeutics, Inc		159
	315,030	*	Catalent, Inc		7,655
	200,032	*,e	Catalyst Pharmaceuticals, Inc		600
	3,744,574	*	Celgene Corp		405,051
	5,338		Cell Biotech Co Ltd		271
	306,027	*,e	Celldex Therapeutics, Inc		3,226
	15,489	*	Cellectis S.A.		417
	8,609	*	Celltrion Pharm Inc		93
	205,524	*,e	Celltrion, Inc		11,836
	23,282	*	Cellular Biomedicine Group, Inc		394
	92,065	*,e	Cempra, Inc		2,563
	122,485	*	Center Laboratories, Inc		251
	209,232	*,e	Cepheid, Inc		9,457
	124,992	*	Charles River Laboratories International, Inc		7,939
	81,299	*,e	ChemoCentryx, Inc		492
	15,606	*	Chiasma, Inc		310
	128,616	*	Chimerix, Inc		4,913
	10,235,300	e,m	China Animal Healthcare Ltd		13
	740,000	*	China Grand Pharmaceutical and Healthcare Holdings Ltd		183
	1,341,000		China Medical System Holdings Ltd		1,544
	19,740,000	*,e	China Regenerative Medicine International Ltd		1,088
	765,000	e	China Shineway Pharmaceutical Group Ltd		888
	34,894		Chong Kun Dang Pharmaceutical Corp		2,276
	9,156		Choongwae Pharma Corp		295
	261,900		Chugai Pharmaceutical Co Ltd		8,044
	16,986	*,e	Cidara Therapeutics, Inc		216
	903,890		Cipla Ltd		8,775
	3,024,000		CK Life Sciences International Holdings, Inc		270
	189,660		Clinigen Group plc		1,967
	93,430	*	Clovis Oncology, Inc		8,592
	8,800	e	CMIC Co Ltd		125
	740,474	*,e	Coherus Biosciences, Inc		14,839
	20,865	*,e	Collegium Pharmaceutical, Inc		461
	70,031	*,e	Concert Pharmaceuticals Inc		1,314
	29,030		Concordia Healthcare Corp		1,239
	315,000	e	Consun Pharmaceutical Group Ltd		192
	163,409	*,e	Corcept Therapeutics, Inc		614
	16,676	*,e	Corium International, Inc		156
	75,434	*,e	CorMedix, Inc		150
	4,978	*	Cosmo Pharmaceuticals S.A.		761

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	812,995		CSL Ltd	$	51,164
	5,074,777		CSPC Pharmaceutical Group Ltd		4,468
	12,872	*	CTC BIO, Inc		209
	669,089	*,e	CTI BioPharma Corp		977
	273,819	*,e	Curis, Inc		553
	218,920	*,e	Cytokinetics, Inc		1,465
	165,367	*,e	CytRx Corp		392
	7,535	*	Daehan New Pharm Co Ltd		125
	15,314		Daewoong Co Ltd		868
	4,481		Daewoong Pharmaceutical Co Ltd		307
	1,602,780	e	Daiichi Sankyo Co Ltd		27,811
	362,623	e	Dainippon Sumitomo Pharma Co Ltd		3,625
	1,232,000		Dawnrays Pharmaceutical Holdings Ltd		1,064
	20,648	*,e	DBV Technologies S.A.		1,460
	204,602	*,e	Depomed, Inc		3,857
	57,654	*	Dermira, Inc		1,346
	76,483	*,e	Dicerna Pharmaceuticals Inc		628
	54,223		Divi S Laboratories Ltd		923
	54,223	*,m	Divi’s Laboratories Ltd		923
	1,968		Dong-A Pharmaceutical Co Ltd		242
	3,734		Dong-A ST Co Ltd		364
	12,283		DongKook Pharmaceutical Co Ltd		473
	201,806		Dr Reddy’s Laboratories Ltd		12,834
	281,061	*,e	Durect Corp		548
	470,267	*	Dyax Corp		8,977
	109,696	*	Dynavax Technologies Corp		2,692
	24,360	*,e	Eagle Pharmaceuticals, Inc		1,803
	255,421	e	Eisai Co Ltd		15,070
	4,854,037		Eli Lilly & Co		406,234
	97,263	*	Emergent Biosolutions, Inc		2,771
	55,811	*,e	Enanta Pharmaceuticals, Inc		2,017
	905,847	*	Endo International plc		62,757
	103,292	*,e	Endocyte, Inc		473
	86,606	*	Enzo Biochem, Inc		275
	74,280	*,e	Epizyme, Inc		955
	24,400	e	EPS Co Ltd		239
	45,902	*,e	Esperion Thereapeutics, Inc		1,083
	198,000		Essex Bio-technology Ltd		121
	19,869	e	Eurofins Scientific		6,110
	102,971	*	Evotec AG.		459
	269,315	*,e	Exact Sciences Corp		4,845
	642,297	*,e	Exelixis, Inc		3,603
	589,346	e	Faes Farma S.A. (Sigma)		1,552
	86,030		FDC Ltd		314
	63,983	*	Fibrocell Science, Inc		246
	248,078	*,e	FibroGen, Inc		5,438
	127,641	*,e	Five Prime Therapeutics, Inc		1,964
	6,398	*,e	Flex Pharma, Inc		77
	35,611	*,e	Flexion Therapeutics Inc		529
	73,920	*,e	Fluidigm Corp		599
	59,676	*	Foamix Pharmaceuticals Ltd		437
	38,413	*,e	Foundation Medicine, Inc		709

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	44,000		Fuji Pharma Co Ltd	$	737
	33,356	*,e	Galapagos NV		1,370
	436,071	*,e	Galena Biopharma, Inc		689
	4,036	*	Genexine Co Ltd		274
	20,613	*,e	Genfit		788
	58,106	*	Genmab AS		5,343
	80,240	*,e	Genocea Biosciences Inc		550
	45,940	*,e	Genomic Health, Inc		972
	759,600	*,e	Genomma Lab Internacional S.A. de C.V.		632
	87,415		Genus plc		1,877
	595,429	*,e	Geron Corp		1,643
	31,628		Gerresheimer AG.		2,312
	5,542,883		Gilead Sciences, Inc		544,256
	6,102,763		GlaxoSmithKline plc		117,136
	141,582		Glenmark Pharmaceuticals Ltd		2,267
	15,873	*	Global Blood Therapeutics, Inc		669
	141,000	*,e	GNI Group Ltd		234
	5,688		Green Cross Corp		901
	79,260		Green Cross Holdings Corp		2,689
	220,098	e	Grifols S.A.		9,100
	258,519	*,e	GW Pharmaceuticals plc		1,963
	2,057,846	e	H Lundbeck AS		54,866
	362,657	*,e	Halozyme Therapeutics, Inc		4,870
	23,226	*	Hanmi Holdings Co Ltd		2,745
	6,061	*	Hanmi Pharm Co Ltd		1,909
	88,204	*,e	Harvard Bioscience, Inc		333
	94,574	*,e	Heron Therapeutics, Inc		2,308
	13,250	*	Heska Corp		404
	388,683		Hikma Pharmaceuticals plc		13,427
	156,413		Hisamitsu Pharmaceutical Co, Inc		5,230
	21,742	*,e	Horizon Pharma plc		431
	8,328,062	e	Hua Han Bio-Pharmaceutical Holdings Ltd		1,027
	4,558	*	Humedix Co Ltd		235
	6,324		Huons Co Ltd		482
	236,905	*,e	Idera Pharmaceuticals, Inc		794
	99,876	*,e	IGI Laboratories, Inc		653
	84,232	*,e	Ignyta, Inc		740
	70,105		Il Dong Pharmaceutical Co Ltd		1,568
	615,143	*	Illumina, Inc		108,154
	12,150		Ilyang Pharmaceutical Co Ltd		546
	30,766	*,e	Immune Design Corp		375
	242,533	*,e	Immunogen, Inc		2,328
	240,791	*,e	Immunomedics, Inc		414
	206,043	*	Impax Laboratories, Inc		7,255
	134,727	*	INC Research Holdings, Inc		5,389
	441,184	*	Incyte Corp		48,676
	1,801,983		Indivior plc		6,189
	19,038		Indoco Remedies Ltd		93
	322,738	*	Infinity Pharmaceuticals, Inc		2,727
	45,328	*,e	Innate Pharma S.A.		682
	185,842	*,e	Inovio Pharmaceuticals, Inc		1,074
	201,611	*	Insmed, Inc		3,744

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	315,487	*,e	Insys Therapeutics, Inc	$	8,979
	61,140	*,e	Intercept Pharmaceuticals, Inc		10,141
	50,927	*	Intersect ENT, Inc		1,192
	55,561	*,e	Intra-Cellular Therapies, Inc		2,225
	86,120	*,e	Intrexon Corp		2,739
	9,563	*	iNtRON Biotechnology, Inc		392
	20,743	*,e	Invitae Corp		150
	309,786		Ipsen		19,217
	321,701	*,e	Ironwood Pharmaceuticals, Inc		3,352
	234,089	*,e	Isis Pharmaceuticals, Inc		9,462
	66,700	*,e	Japan Tissue Engineering Co Lt		525
	309,763	*	Jazz Pharmaceuticals plc		41,140
	12,200	e	JCR Pharmaceuticals Co Ltd		234
	15,207		Jeil Pharmaceutical Co		263
	8,339,620		Johnson & Johnson		778,503
	21,678	*,e	Juno Therapeutics, Inc		882
	93,261		Kaken Pharmaceutical Co Ltd		8,656
	59,130	*,e	Karyopharm Therapeutics, Inc		623
	271,810	*,e	Keryx Biopharmaceuticals, Inc		957
	97,800		Kissei Pharmaceutical Co Ltd		2,231
	144,031	*,e	Kite Pharma, Inc		8,020
	82,142	*	Knight Therapeutics, Inc		435
	4,243		Kolon Life Science, Inc		597
	28,837	*	Komipharm International Co Ltd		561
	172,431		Kwang Dong Pharmaceutical Co Ltd		1,891
	46,736		Kyorin Co Ltd		715
	378,091		Kyowa Hakko Kogyo Co Ltd		5,636
	64,152	*,e	KYTHERA Biopharmaceuticals, Inc		4,810
	15,888		Kyungdong Pharm Co Ltd		323
	30,889	*,e	La Jolla Pharmaceutical Co		858
	250,139		Laboratorios Almirall S.A.		4,466
	13,744		Laboratorios Farmaceuticos Rovi S.A		204
	119,848	*,e	Lannett Co, Inc		4,976
	229,500	e	Lee’s Pharmaceutical Holdings Ltd		297
	157,678	*,e	Lexicon Pharmaceuticals, Inc		1,693
	11,237	*	LG Life Sciences Ltd		525
	52,015	*,e	Ligand Pharmaceuticals, Inc (Class B)		4,455
	120,424	*,e	Lion Biotechnologies, Inc		694
	176,670	m	Livzon Pharmaceutical Group, Inc		912
	456,452		Lonza Group AG.		59,894
	77,000	*	Lotus Pharmaceutical Co Ltd		169
	19,535	*,e	Loxo Oncology, Inc		341
	133,701	*	Luminex Corp		2,261
	408,206		Lupin Ltd		12,673
	1,666,500	*	Luye Pharma Group Ltd		1,488
	7,802	*	Macrogen, Inc		227
	99,020	*	MacroGenics, Inc		2,121
	490,155	*	Mallinckrodt plc		31,341
	865,904	*,e	MannKind Corp		2,780
	621,535		Marksans Pharma Ltd		986
	581,714	*	Mayne Pharma Group Ltd		421
	720,566		Meda AB (A Shares)		10,305

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,210	*,e	Medgenics, Inc	$	322
	272,097	*,e	Medicines Co		10,329
	83,918	*	Medigen Biotechnology Corp		248
	545,194	*	Medivation, Inc		23,171
	22,725	*	Medivir AB		196
	13,770		Medy-Tox, Inc		4,981
	259,100		Mega Lifesciences PCL		131
	8,813,636		Merck & Co, Inc		435,305
	331,767		Merck KGaA		29,373
	3,708,854	*,e	Merrimack Pharmaceuticals, Inc		31,562
	190,038	*,e	Mesoblast Ltd		424
	113,982	*	Mettler-Toledo International, Inc		32,455
	284,321	*,e	MiMedx Group, Inc		2,744
	25,528	*,e	Mirati Therapeutics, Inc		879
	12,100		Mochida Pharmaceutical Co Ltd		701
	5,567	*	Molecular Partners AG.		171
	158,230	*	Momenta Pharmaceuticals, Inc		2,597
	98,379	*	Morphosys AG.		6,560
	1,856,767	*,e	Mylan NV		74,753
	178,276	*,e	Myriad Genetics, Inc		6,682
	132,100	*,e	NanoCarrier Co Ltd		1,164
	33,609	*,e	NanoString Technologies, Inc		538
	8,282		Natco Pharma Ltd		312
	21,466	*	Natera, Inc		233
	12,436	*	Naturalendo Tech Co Ltd		241
	430,257	*,e	Navidea Biopharmceuticals, Inc		981
	343,608	*,e	Nektar Therapeutics		3,766
	160,078	*,e	NeoGenomics, Inc		917
	11,977	*	Neos Therapeutics, Inc		252
	241,835	*	Neurocrine Biosciences, Inc		9,623
	53,613	*,e	NewLink Genetics Corp		1,921
	60,650	e	Nichi-iko Pharmaceutical Co Ltd		1,597
	50,000	e	Nippon Shinyaku Co Ltd		1,804
	123,622	*,e	Northwest Biotherapeutics, Inc		773
	4,675,435		Novartis AG.		429,728
	815,176	*	Novavax, Inc		5,763
	3,055,823		Novo Nordisk AS		164,906
	143,718	*,e	Ocata Therapeutics, Inc		601
	48,456	*,e	Ocular Therapeutix, Inc		681
	97,725	*,e	Omeros Corp		1,071
	78,098	*,e	OncoMed Pharmaceuticals, Inc		1,296
	129,600	*,e	OncoTherapy Science, Inc		333
	190,466	*,e	Oncothyreon, Inc		522
	130,923		Oneness Biotech Co Ltd		145
	176,930		Ono Pharmaceutical Co Ltd		20,978
	110,862	*	Ophthotech Corp		4,492
	691,969	*,e	Opko Health, Inc		5,819
	508,887	*,e	Orexigen Therapeutics, Inc		1,074
	15,760	*,e	Orexo AB		113
	239,440	*,e	Organovo Holdings, Inc		642
	158,166		Orion Oyj (Class B)		5,985
	46,632	*,e	Osiris Therapeutics, Inc		861

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	37,907	*,e	Otonomy, Inc	$	675
	869,820		Otsuka Holdings KK		27,775
	128,700		Ouro Fino Saude Animal Participacoes S.A.		1,088
	60,913	*,e	OvaScience, Inc		517
	166,732	*,e	Pacific Biosciences of California, Inc		610
	93,020	*,e	Pacira Pharmaceuticals, Inc		3,823
	1,782,786	*,e	Paion AG.		3,996
	39,584	e	Paratek Pharmaceuticals, Inc		752
	200,150	*	Parexel International Corp		12,393
	413,041	e	PDL BioPharma, Inc		2,078
	28,800	*,e	PeptiDream, Inc		742
	485,568	*,e	Peregrine Pharmaceuticals, Inc		495
	383,279	*	PerkinElmer, Inc		17,615
	112,301	*,e	Pernix Therapeutics Holdings, Inc		355
	459,521		Perrigo Co plc		72,269
	108,551	*	Pfenex, Inc		1,629
	16,930		Pfizer Ltd		626
	23,679,263		Pfizer, Inc		743,766
	47,861		PharmaEngine Inc		309
	65,752		Phibro Animal Health Corp		2,080
	106,727		Piramal Healthcare Ltd		1,414
	153,739	*	Portola Pharmaceuticals, Inc		6,552
	202,848	e	Pozen, Inc		1,184
	102,449	*,e	PRA Health Sciences, Inc		3,978
	172,243	*	Prestige Brands Holdings, Inc		7,778
	198,266	*,e	Progenics Pharmaceuticals, Inc		1,134
	512,317	*,e	ProMetic Life Sciences, Inc		564
	14,444	*,e	Proteon Therapeutics, Inc		201
	101,641	*,e	Prothena Corp plc		4,608
	24,189,582		PT Kalbe Farma Tbk		2,276
	110,604	*,e	PTC Therapeutics, Inc		2,953
	50,140	*,e	Puma Biotechnology, Inc		3,779
	177,857	*	Qiagen NV		4,588
	513,063	*	Qiagen NV (NASDAQ)		13,237
	197,272	*	Quintiles Transnational Holdings, Inc		13,724
	95,052	*,e	Radius Health, Inc		6,588
	243,571	*,e	Raptor Pharmaceutical Corp		1,474
	42,354	e	Recipharm AB		774
	99,829		Recordati S.p.A.		2,304
	168,018	*	Regeneron Pharmaceuticals, Inc		78,152
	75,315	*,e	Regulus Therapeutics, Inc		493
	85,963	*,e	Relypsa, Inc		1,591
	85,377	*	Repligen Corp		2,378
	40,300	*,e	ReproCELL, Inc		155
	105,793	*,e	Retrophin, Inc		2,143
	40,796	*,e	Revance Therapeutics, Inc		1,214
	131,165		Richter Gedeon Rt		2,085
	563,059	*	Rigel Pharmaceuticals, Inc		1,391
	1,242,596		Roche Holding AG.		329,874
	92,900	e	Rohto Pharmaceutical Co Ltd		1,426
	49,026	*,e	Sage Therapeutics, Inc		2,075
	57,661	*	Sagent Pharmaceuticals		884

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	67,462		Samjin Pharmaceutical Co Ltd	$	1,503
	176,908	*,e	Sangamo Biosciences, Inc		998
	2,344,499		Sanofi-Aventis		223,196
	625,100		Santen Pharmaceutical Co Ltd		8,392
	3,595	*	Santhera Pharmaceutical Holding AG.		398
	105,827	*,e	Sarepta Therapeutics, Inc		3,398
	39,600		Sawai Pharmaceutical Co Ltd		2,304
	130,788	*	Sciclone Pharmaceuticals, Inc		908
	201,987		Scinopharm Taiwan Ltd		239
	182,546	*,e	Seattle Genetics, Inc		7,039
	47,979	*	Seegene, Inc		1,683
	439,600		Seikagaku Corp		5,392
	333,574	*,e	Sequenom, Inc		584
	19,731	*	Seres Therapeutics, Inc		585
	394,000		Shandong Luoxin Pharmacy Stock Co Ltd		622
	748,000	m	Shandong Xinhua Pharmaceutical Co Ltd		483
	307,400		Shanghai Dingli Technology Dev		154
	538,567		Shanghai Fosun Pharmaceutical Group Co Ltd		1,691
	237,000	e	Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		219
	7,604		Shilpa Medicare Ltd		109
	19,700	*,e	Shin Nippon Biomedical Laboratories Ltd		67
	567,195		Shionogi & Co Ltd		20,331
	922,273		Shire Ltd		63,048
	3,576		Siegfried Holding AG.		640
	18,877,032	m	Sihuan Pharmaceutical Holdings		5,350
	10,739,932		Sino Biopharmaceutical		13,300
	123,280		Sinphar Pharmaceutical Co Ltd		102
	194,442		Sirtex Medical Ltd		4,493
	123,403	*	Skyepharma plc		655
	976,029	*,m	Skyline Venture Fund III Ltd		10
	152,105	*,e	Sorrento Therapeutics, Inc		1,276
	12,100	e	Sosei Group		378
	31,972	*,e	Spark Therapeutics, Inc		1,334
	180,684	*,e	Spectrum Pharmaceuticals, Inc		1,080
	2,767,703	e	SSY Group Ltd		658
	209,751		Stada Arzneimittel AG.		7,519
	7,325	*	Stallergenes Greer plc		360
	553,100		Standard Chemical & Pharma		512
	62,901	*,e	Stemline Therapeutics, Inc		555
	31,034		Strides Arcolab Ltd		579
	173,076	*	Sucampo Pharmaceuticals, Inc (Class A)		3,439
	63,728	*	Sun Pharma Advanced Research Company Ltd		375
	1,777,856		Sun Pharmaceutical Industries Ltd		23,525
	121,228	*	Supernus Pharmaceuticals, Inc		1,701
	50,512		Suven Life Sciences Ltd		206
	318,235	*,e	Synergy Pharmaceuticals, Inc		1,687
	241,482	*,e	Synta Pharmaceuticals Corp		420
	15,733	*,e	T2 Biosystems, Inc		138
	209,000	*	Taigen Biopharmaceuticals Holdings Ltd		180
	44,531		Taisho Pharmaceutical Holdings Co Ltd		2,560
	32,339	*	Taiwan Liposome Co Ltd		138
	47,400	e	Takara Bio, Inc		444

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	755,264		Takeda Pharmaceutical Co Ltd	$	33,135
	390,974		Tanabe Seiyaku Co Ltd		6,900
	10,160		Tecan Group AG.		1,431
	88,060	*,e	TESARO, Inc		3,531
	110,475	*,e	Tetraphase Pharmaceuticals, Inc		824
	1,503,191		Teva Pharmaceutical Industries Ltd		84,952
	111,659		Teva Pharmaceutical Industries Ltd (ADR)		6,304
	91,244	*,e	TG Therapeutics, Inc		920
	324,712	*,e	TherapeuticsMD, Inc		1,903
	67,705	*,e	Theravance Biopharma, Inc		744
	223,894	e	Theravance, Inc		1,608
	1,392,747		Thermo Electron Corp		170,305
	162,958	*,e	Threshold Pharmaceuticals, Inc		663
	6,439	*,e	Tobira Therapeutics, Inc		62
	26,483	*,e	Tokai Pharmaceuticals, Inc		274
	1,824,000	e	Tong Ren Tang Technologies Co Ltd		2,493
	31,500		Torii Pharmaceutical Co Ltd		739
	67,239		Torrent Pharmaceuticals Ltd		1,542
	60,800		Towa Pharmaceutical Co Ltd		3,902
	156,131	*,e	Trevena, Inc		1,616
	182,003	*,e	Trovagene, Inc		1,036
	70,192		Tsumura & Co		1,526
	178,917		TTY Biopharm Co Ltd		522
	44,000	*	TWi Pharmaceuticals, Inc		287
	288,153		UCB S.A.		22,575
	132,047	*	Ultragenyx Pharmaceutical, Inc		12,717
	62,237		Unichem Laboratories Ltd		292
	503,500	*	United Laboratories Ltd		258
	178,956	*	United Therapeutics Corp		23,486
	648,211	*	Valeant Pharmaceuticals International, Inc		115,702
	47,948	*,e	Valneva SE		172
	103,460	*,e	Vanda Pharmaceuticals, Inc		1,167
	526,059	*	Vectura Group plc		1,393
	76,742	*,e	Verastem, Inc		137
	71,974	*,e	Versartis, Inc		830
	721,130	*	Vertex Pharmaceuticals, Inc		75,098
	4,034	e	Virbac S.A.		698
	10,022	*	ViroMed Co Ltd		1,046
	26,714	*,e	Vitae Pharmaceuticals, Inc		294
	43,441	*,e	Vital Therapies, Inc		175
	274,810	*,e	Vivus, Inc		451
	162,262	*,e	VWR Corp		4,169
	319,623	*	Waters Corp		37,783
	11,415		Whanin Pharmaceutical Co Ltd		198
	2,330,000	*	Winteam Pharmaceutical Group Ltd		1,758
	149,223		Wockhardt Ltd		3,477
	9,992	*,e	XBiotech, Inc		149
	71,582	*,e	Xencor Inc		875
	190,465	*	Xenoport, Inc		661
	8,959		Yuhan Corp		1,844
	85,819	*	Yungjin Pharmaceutical Co Ltd		148
	379,050		YungShin Global Holding Corp		525

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,391	*,e	Zafgen, Inc	$	1,322
	13,773	*,e	Zealand Pharma AS		304
	170,249	*,e	Zeltia S.A.		642
	33,300		Zeria Pharmaceutical Co Ltd		411
	295,474	*,e	ZIOPHARM Oncology, Inc		2,662
	2,024,657		Zoetis Inc		83,375
	62,448	*,e	Zogenix, Inc		843
	46,441	*,e	ZS Pharma, Inc		3,049
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		9,798,383
REAL ESTATE - 4.0%
	16,950,000		8990 Holdings, Inc		2,366
	808,837		Abacus Property Group		1,807
	196,949		Acadia Realty Trust		5,922
	848		Activia Properties Inc		3,548
	22,996	*,e	ADLER Real Estate AG.		315
	3,716	*	Advance Residence Investment Corp		7,838
	33,276		Aeon Mall Co Ltd		511
	4,741	*,e	AEON REIT Investment Corp		5,001
	10,966		Africa Israel Properties Ltd		144
	70,661	e	AG Mortgage Investment Trust		1,075
	3,783,018	e	Agile Property Holdings Ltd		1,975
	55,442		Agree Realty Corp		1,655
	1,466,384		AIMS AMP Capital Industrial REIT		1,398
	37,044	*	Airport City Ltd		359
	29,200		Airport Facilities Co Ltd		133
	35,103		Akmerkez Gayrimenkul Yatirim Ortakligi AS		198
	3,564,918		Aldar Properties PJSC		2,349
	126,293		Alexander & Baldwin, Inc		4,336
	5,270		Alexander’s, Inc		1,971
	110,311		Alexandria Real Estate Equities, Inc		9,340
	240,600		Aliansce Shopping Centers S.A.		646
	11,636,381	e	Allco Commercial Real Estate Investment Trust		10,874
	37,384		Allied Properties Real Estate Investment Trust		979
	16,590		Allreal Holding AG.		2,170
	185,833		Alony Hetz Properties & Investments Ltd		1,340
	85,761	e	Alstria Office REIT-AG.		1,116
	2,702	*,e	Altisource Asset Management Corp		65
	92,968	*,e	Altisource Portfolio Solutions S.A.		2,216
	245,861	e	Altisource Residential Corp		3,422
	30,931	e	Altus Group Ltd		475
	517,400		Amata Corp PCL (Foreign)		177
	1,125,167		Amer Group Holding		111
	138,804		American Assets Trust,Inc		5,672
	136,962		American Campus Communities, Inc		4,964
	835,123		American Capital Agency Corp		15,617
	129,108		American Capital Mortgage, Inc		1,903
	367,796		American Homes 4 Rent		5,914
	89,259	e	American Residential Properties, Inc		1,542
	1,142,047		American Tower Corp		100,477
	185,167		Amot Investments Ltd		571
	8,909,300		Ananda Development PCL		924

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,469,851		Anant Raj Industries Ltd	$	809
	4,963		ANF Immobilier		111
	2,021,301		Annaly Capital Management, Inc		19,950
	338,656		Anworth Mortgage Asset Corp		1,673
	6,635,360	*	AP Thailand PCL (Foreign)		988
	576,995		Apartment Investment & Management Co (Class A)		21,360
	148,215		Apollo Commercial Real Estate Finance, Inc		2,328
	313,189	e	Apple Hospitality REIT, Inc		5,816
	88,145	e	Ares Commercial Real Estate Corp		1,057
	1,690,596		Argosy Property Ltd		1,137
	164,007		Armada Hoffler Properties, Inc		1,602
	115,115	*	ARMOUR Residential REIT, Inc		2,307
	959,553		Arrowhead Properties Ltd		661
	878,065	e	Arrowhead Properties Ltd (Class A)		608
	165,280		Artis Real Estate Investment Trust		1,570
	103,744	*	Arvind Infrastructure Ltd		106
	833,000	e	Ascendas Hospitality Trust		366
	1,527,500	e	Ascendas India Trust		918
	600,687		Ascendas REIT		990
	867,602	e	Ascott Residence Trust		748
	128,809		Ashford Hospitality Prime, Inc		1,807
	223,332		Ashford Hospitality Trust, Inc		1,362
	449,575	*,e	Attacq Ltd		712
	34,700	*,e	AV Homes, Inc		469
	456,289		AvalonBay Communities, Inc		79,768
	1,011,778		Aveo Group		1,913
	137,813		Axia Real Estate SOCIMI S.A.		1,881
	1,006,200		Axis Real Estate Investment Trust		387
	8,538,130		Ayala Land, Inc		6,229
	40,142		Azrieli Group		1,605
	13,949		Babcock & Brown Japan Property Trust		51
	12,822,800		Bangkokland PCL		524
	107,997		Barwa Real Estate Co		1,270
	1,494		Bayside Land Corp		440
	22,908		Befimmo SCA Sicafi		1,406
	3,652,000	e	Beijing Capital Land Ltd		1,451
	4,392,000	*	Beijing Enterprises Medical & Health Group Ltd		447
	684,000		Beijing North Star Co		199
	2,186,000	*,e	Beijing Properties Holdings Ltd		131
	4,421,950		Belle Corp		288
	11,556,058	e	Beni Stabili S.p.A.		8,978
	477,606		Big Yellow Group plc		5,236
	103,589		BioMed Realty Trust, Inc		2,070
	229,165		Blackstone Mortgage Trust, Inc		6,288
	1,044	*,e	BLife Investment Corp		2,126
	85,607	e	Bluerock Residential Growth REIT, Inc		1,026
	52,403		Boardwalk Real Estate Investment Trust		2,153
	570,259		Boston Properties, Inc		67,519
	547,535		BR Malls Participacoes S.A.		1,445
	161,308		BR Properties S.A.		435
	106,838		Brandywine Realty Trust		1,316
	1,927,654		British Land Co plc		24,480

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,476,481		Brixmor Property Group, Inc	$	58,148
	1,280,228		Brookfield Asset Management, Inc		40,282
	13,755		Brookfield Canada Office Properties		254
	3,602	*	Brookfield Multiplex Group		195
	1,188		Brookfield Property Partners LP (Toronto)		26
	1,436,049	e	Bunnings Warehouse Property Trust		3,126
	54,044	e	BUWOG AG.		1,150
	34,321,726		C C Land Holdings Ltd		8,266
	73,101		CA Immobilien Anlagen AG.		1,345
	664,300	e	Cache Logistics Trust		453
	845,509		Cambridge Industrial Trust		362
	125,851		Camden Property Trust		9,300
	539,389	e	Campus Crest Communities, Inc		2,870
	201,356		Canadian Apartment Properties REIT		4,282
	39,949		Canadian Real Estate Investment Trust		1,226
	739,400		CapitaCommercial Trust		698
	964,192		Capital & Counties Properties		6,342
	4,109,832	e	Capital Property Fund		4,665
	2,830,780		CapitaLand Ltd		5,345
	1,590,581		CapitaMall Trust		2,127
	1,281,100		CapitaMalls Malaysia Trust		411
	552,832		CapitaRetail China Trust		531
	250,149	e	Capstead Mortgage Corp		2,474
	194,096		Care Capital Properties, Inc		6,392
	133,779		CareTrust REIT, Inc		1,518
	2,710,000	*,e	Carnival Group International Holdings Ltd		340
	277,002		Castellum AB		3,899
	97,939		CatchMark Timber Trust Inc		1,007
	1,886,000		Cathay Real Estate Development Co Ltd		813
	670,599		CBL & Associates Properties, Inc		9,221
	2,012,328	*	CBRE Group, Inc		64,394
	654,100		CDL Hospitality Trusts		599
	15,000,000		Cebu Holdings, Inc		1,605
	277,934		Cedar Shopping Centers, Inc		1,726
	112,345		Cedar Woods Properties Ltd		340
	1,281,000	e	Central China Real Estate Ltd		240
	937,600		Central Pattana PCL (ADR)		1,157
	1,261,100		Central Pattana PCL (Foreign)		1,557
	12,066,198		Century Properties Group, Inc		150
	1,130,130	e	Chambers Street Properties		7,335
	7,235,636		Champion Real Estate Investment Trust		3,615
	898,028		Charter Hall Group		2,757
	168,285		Chatham Lodging Trust		3,615
	286,902		Chesapeake Lodging Trust		7,477
	4,481,524		Cheuk Nang Holdings Ltd		3,376
	3,875,010		Cheung Kong Property Holdings Ltd		28,390
	558,472		Chimera Investment Corp		7,467
	3,941,500	e	China Aoyuan Property Group Ltd		741
	1,086,000	e	China Merchants Land Ltd		179
	258,536	*	China New City Commercial Development Ltd		366
	12,797,521	*,e	China New Town Development Co Ltd		483
	3,658,000	e	China Oceanwide Holdings Ltd		480

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	858,000	e	China Overseas Grand Oceans Group Ltd	$	254
	10,570,435	e	China Overseas Land & Investment Ltd		32,138
	4,525,881		China Resources Land Ltd		10,687
	1,149,400	*	China SCE Property Holdings Ltd		251
	10,505,747	e	China Vanke Co Ltd		22,570
	1,396,000	g	China Vast Industrial Urban Development Co Ltd		499
	335,500	e	Chinese Estates Holdings Ltd		791
	134,435		Choice Properties REIT		1,158
	147,088		Chong Hong Construction Co		194
	9,070,758	e	CIFI Holdings Group Co Ltd		1,624
	159,028		City Developments Ltd		862
	933,072		Citycon Oyj		2,296
	22,842		Cofinimmo		2,411
	61,500		Colliers International Group, Inc		2,498
	331,513		Colony Financial, Inc		6,484
	534,000	e	Colour Life Services Group		420
	435,719		Columbia Property Trust, Inc		10,109
	459	*,e	Comforia Residential REIT, Inc		865
	85,465		Cominar Real Estate Investment Trust		1,033
	716,711		Communications Sales & Leasing, Inc		12,829
	799,100	e	Concentradora Fibra Danhos S.A. de C.V.		1,688
	409,500		Concentradora Fibra Hotelera Mexicana S.A. de C.V.		412
	13,278		Consolidated-Tomoka Land Co		661
	63,151	e	Conwert Immobilien Invest AG.		853
	182,736	e	CorEnergy Infrastructure Trust, Inc		808
	64,910	e	Coresite Realty		3,339
	543,036	e	Corp Inmobiliaria Vesta SAB de C.V.		850
	51,077		Corporate Office Properties Trust		1,074
	296,960		Corrections Corp of America		8,772
	6,778,928		Country Garden Holdings Co Ltd		2,456
	2,997,100	*	Country Group Development PCL		102
	212,144		Countrywide plc		1,612
	1,011,766		Cousins Properties, Inc		9,328
	2,338	*	Crescendo Investment Corp		1,714
	40,200		Crombie Real Estate Investment Trust		386
	1,323,407		Cromwell Group		894
	1,512,149		Crown Castle International Corp		119,263
	6,858,943		CSI Properties Ltd		218
	43,809		CT Real Estate Investment Trust		422
	884,731		CubeSmart		24,074
	205,778		CyrusOne, Inc		6,721
	399,867		CYS Investments, Inc		2,903
	683	*,e	DA Office Investment Corp		3,300
	102,100	e	Daibiru Corp		795
	330,000		Daikyo, Inc		559
	2,595,900		Daiman Development BHD		1,227
	20,946		Daito Trust Construction Co Ltd		2,128
	1,186,589		Daiwa House Industry Co Ltd		29,417
	871	*,e	Daiwa House REIT Investment Corp		3,196
	1,418,700	e,g	Dalian Wanda Commercial Properties Co Ltd		8,179
	256,927		DCT Industrial Trust, Inc		8,648
	199,235		DDR Corp		3,064

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	74,179		Delta Corp Ltd	$	87
	177,833		Derwent London plc		9,802
	400,601		Deutsche Annington Immobilien SE		12,894
	71,105		Deutsche Euroshop AG.		3,197
	369,009		Deutsche Wohnen AG.		9,869
	828,183		Dexus Property Group		4,176
	1,430,725	*	Deyaar Development PJSC		257
	722,529		DiamondRock Hospitality Co		7,984
	42,052		DIC Asset AG.		379
	394,726		Digital Realty Trust, Inc		25,784
	133,811		Dios Fastigheter AB		888
	10,673,302		DLF Ltd		22,441
	72,621	*	Dogus Gayrimenkul Yatirim Ortakligi AS		76
	24,690		Dongwon Development Co Ltd		967
	74,126		Douglas Emmett, Inc		2,129
	184,653		Dream Global Real Estate Investment Trust		1,223
	47,996		Dream Industrial Real Estate Investment Trust		284
	55,185		Dream Office Real Estate Investment Trust		877
	50,362	*,e	Dream Unlimited Corp		265
	241,135		Duke Realty Corp		4,594
	162,835		DuPont Fabros Technology, Inc		4,214
	168,224	e	Dynex Capital, Inc		1,104
	35,185		Easterly Government Properties, Inc		561
	633,100		Eastern & Oriental BHD		228
	110,853		EastGroup Properties, Inc		6,006
	605,700	*	Eco World Development Group BHD		192
	170,249		Education Realty Trust, Inc		5,610
	6,668,470	*	Emaar Malls Group PJSC		5,632
	8,893,460		Emaar Properties PJSC		15,761
	1,293,880		Emira Property Fund Ltd		1,649
	2,566,888		Emlak Konut Gayrimenkul Yatiri		2,131
	1,233,333	e	Emperor International Holdings		238
	509,529		Empire State Realty Trust, Inc		8,677
	149,731		Entertainment Properties Trust		7,722
	201,511	e,g	Entra ASA		1,628
	103,270		Equinix, Inc		28,234
	222,814	*	Equity Commonwealth		6,069
	337,304		Equity Lifestyle Properties, Inc		19,756
	190,861		Equity One, Inc		4,646
	954,267		Equity Residential		71,685
	1,074,710	*	Eshraq Properties Co PJSC		198
	289,830		Essex Property Trust, Inc		64,754
	36,799		Eurobank Properties Real Estate Investment Co		327
	51,511		Eurocommercial Properties NV		2,251
	4,210,000	*	EverChina International Holdings Co. Ltd		164
	11,876,261	e	Evergrande Real Estate Group		6,786
	816,645		Extra Space Storage, Inc		63,012
	868,507		Ezdan Holding Group QSC		4,471
	157,518		Fabege AB		2,311
	1,599,000	e	Fantasia Holdings Group Co Ltd		181
	1,003,680		Far East Consortium		373
	883,800	e	Far East Hospitality Trust		400

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,569,030		Farglory Land Development Co Ltd	$	1,660
	110,991	*	Fastighets AB Balder		2,109
	159,014		Federal Realty Investment Trust		21,697
	4,848,366		Federation Centres		9,362
	748,802		FelCor Lodging Trust, Inc		5,294
	380,851	e	Fibra Shop Portafolios Inmobiliarios SAPI de C.V.		378
	6,325,291		Fibra Uno Administracion S.A. de C.V.		13,062
	16,000,000		Filinvest Development Corp		1,369
	71,845,000		Filinvest Land, Inc		2,585
	108,970		First Capital Realty, Inc		1,527
	475,175		First Industrial Realty Trust, Inc		9,955
	207,334		First Potomac Realty Trust		2,281
	455,908		First Real Estate Investment Trust		413
	49,939		FirstService Corp		1,614
	86,871		Fonciere Des Regions		7,575
	535,772	*	Forest City Enterprises, Inc (Class A)		10,785
	94,451	*,e	Forestar Real Estate Group, Inc		1,242
	571,897		Fortress Income Fund Ltd		673
	347,616	e	Foxtons Group plc		1,248
	310,844		Franklin Street Properties Corp		3,342
	8,164,701	e	Franshion Properties China Ltd		2,065
	1,608,600		Frasers Centrepoint Trust		2,155
	1,010,100	e	Frasers Hospitality Trust		518
	468	*	Frontier Real Estate Investment Corp		1,812
	19,751	*,e	FRP Holdings, Inc		595
	663	*	Fukuoka REIT Corp		981
	3,310,000	*	Fullshare Holdings Ltd		596
	9,064,000		Future Land Development Holdin		1,180
	1,485,351	e	Gaming and Leisure Properties, Inc		44,115
	88,002		Gazit Globe Ltd		882
	9,281		Gazit, Inc		183
	543,009		GDI Property Group		349
	8,290		Gecina S.A.		1,011
	4,846,000	e	Gemdale Properties and Investment Corp Ltd		242
	2,570,878		General Growth Properties, Inc		66,766
	195,242		Geo Group, Inc		5,806
	100,956		Getty Realty Corp		1,595
	88,579	e	Gladstone Commercial Corp		1,250
	5,441,491		Global Logistic Properties		7,823
	476	*,e	Global One Real Estate Investment Corp		1,427
	1,608,775	*	Globe Trade Centre S.A.		2,649
	4,088,895	*,e	Glorious Property Holdings Ltd		466
	2,171	*	GLP J-Reit		2,077
	50,826		Godrej Properties Ltd		256
	15,480		Goldcrest Co Ltd		288
	745,300		Golden Land Property Development PCL		118
	1,722,000	*,e	Goldin Properties Holdings Ltd		1,559
	1,677,591		Goodman Property Trust		1,245
	190,941	e	Government Properties Income Trust		3,055
	2,014,700		GPT Group (ASE)		6,403
	429,680		Grainger plc		1,549
	199,986	e	Gramercy Property Trust, Inc		4,154

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,973	e	Grand City Properties S.A.	$	1,557
	70,357		Granite Real Estate Investment Trust		1,981
	12,538	e	Great Ajax Corp		155
	334,513		Great Eagle Holdings Ltd		997
	591,316		Great Portland Estates plc		7,654
	6,295,329	e	Green REIT plc		10,466
	1,419,000	e	Greenland Hong Kong Holdings Ltd		692
	592,016	e	Growthpoint Properties Australia Ltd		1,300
	6,742,926		Growthpoint Properties Ltd		12,493
	542,000	*	Guangdong Land Holdings Ltd		114
	1,402,908	e	Guangzhou R&F Properties Co Ltd		1,276
	513,340		H&R Real Estate Investment Trust		7,913
	3,910		Haesung Industrial Co Ltd		79
	167,970		Halk Gayrimenkul Yatrm Ortakli		56
	56,025	e	Hamborner AG.		542
	2,479,470		Hammerson plc		23,413
	953,495		Hang Lung Group Ltd		3,246
	14,001,071	e	Hang Lung Properties Ltd		31,493
	523		Hankyu Reit, Inc		551
	85,517	e	Hannon Armstrong Sustainable Infrastructure Capital, Inc		1,473
	1,793,996	e	Hansteen Holdings plc		3,278
	342,236		Hatteras Financial Corp		5,185
	815,860		HCP, Inc		30,391
	405,588	e	Healthcare Realty Trust, Inc		10,079
	223,610		Healthcare Trust of America, Inc		5,481
	33,500	e	Heiwa Real Estate Co Ltd		359
	157,366		Helical Bar plc		977
	46,835		Heliopolis Housing		241
	126,512	*	Hemfosa Fastigheter AB		1,351
	2,985,695		Henderson Land Development Co Ltd		17,854
	191,682		Hersha Hospitality Trust		4,344
	26,538,577		Hibernia REIT plc		37,602
	649,675		Highwealth Construction Corp		920
	237,622		Highwoods Properties, Inc		9,208
	81,470	*	Hispania Activos Inmobiliarios SAU		1,133
	159,300		Ho Bee Investment Ltd		218
	182,617		Home Properties, Inc		13,651
	228,000		Hong Fok Corp Ltd		108
	260,994		Hongkong Land Holdings Ltd		1,728
	662,000	*,e	Hopson Development Holdings Ltd		529
	172	*	Hoshino Resorts REIT, Inc		1,548
	509,775		Hospitality Properties Trust		13,040
	2,226,044		Host Marriott Corp		35,194
	264,075	*	Housing Development & Infrastruture Ltd		297
	117,665	*	Howard Hughes Corp		13,501
	808,235		Huaku Development Co Ltd		1,407
	93,000		Huang Hsiang Construction Co		76
	251,187		Hudson Pacific Properties		7,232
	246,489		Hufvudstaden AB (Series A)		3,230
	3,991	e	Hulic Reit, Inc		5,271
	495,362		Hung Poo Real Estate Development Corp		324
	442,000		Hung Sheng Construction Co Ltd		203

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	878,000	e	Hydoo International Holding Ltd	$	113
	267,672		Hyprop Investments Ltd		2,331
	789,752		Hysan Development Co Ltd		3,288
	14,439		Icade		980
	1,194		Ichigo Real Estate Investment Corp		824
	197,700		IGB Corp BHD		115
	2,705,100		IGB Real Estate Investment Trust		788
	70,000		Iguatemi Empresa de Shopping Centers S.A.		363
	364,783	e	Immobiliare Grande Distribuzione		327
	1,355,948	*,e,m	Immoeast AG.		0
	658,721	*,e,m	Immofinanz ANSPR NACHB AG.		0
	909,528	*,e	Immofinanz Immobilien Anlagen AG.		2,098
	104,705	e	Independence Realty Trust, Inc		755
	821,227		Indiabulls Real Estate Ltd		803
	398	e	Industrial & Infrastructure Fund Investment Corp		1,732
	641,428		ING Office Fund		1,783
	352,465		Inland Real Estate Corp		2,855
	1,883,117	*	Inmobiliaria Colonial S.A.		1,312
	153,944		InnVest Real Estate Investment Trust		574
	30,179		InterRent Real Estate Investment Trust		147
	2,358		Intershop Holding AG.		982
	14,155		Intervest Offices		327
	324,889		Invesco Mortgage Capital, Inc		3,977
	530		Invesco Office J-Reit, Inc		414
	788,029	e	Investors Real Estate Trust		6,099
	15,222	*,e	Invincible Investment Corp		8,489
	847,993		IOI Properties Group Sdn BHD		383
	380,774	e	Iron Mountain, Inc		11,812
	1,159,737		Is Gayrimenkul Yatirim Ortakligi AS		537
	222,622	*,e	iStar Financial, Inc		2,801
	1,135	*	Japan Excellent, Inc		1,251
	10,499		Japan Hotel REIT Investment Corp		6,699
	2,213	*,e	Japan Logistics Fund Inc		3,977
	332		Japan Prime Realty Investment Corp		1,079
	393	*	Japan Real Estate Investment Corp		1,810
	24,672		Japan Rental Housing Investments, Inc		16,110
	778	*	Japan Retail Fund Investment Corp		1,505
	8,198	*	Jerusalem Oil Exploration		319
	1,717,750		Jiangsu Future Land Co Ltd		3,107
	186,548		Jones Lang LaSalle, Inc		26,820
	22,700	e	Jowa Holdings Co Ltd		955
	3,000,000	e	Joy City Property Ltd		444
	1,072,117		K Wah International Holdings Ltd		429
	269,480		KEE TAI Properties Co Ltd		135
	1,468		Kenedix Realty Investment Corp		6,978
	342	*,e	Kenedix Residential Investment Corp		883
	721	*,e	Kenedix Retail REIT Corp		1,389
	544,500		Kenedix, Inc		1,813
	238,896		Kennedy-Wilson Holdings, Inc		5,296
	500,500		Keppel DC REIT		359
	3,354,535		Kerry Properties Ltd		9,210
	50,611	e	Killam Properties, Inc		377

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	291,909		Kilroy Realty Corp	$	19,021
	206,049		Kimco Realty Corp		5,034
	1,480,000		Kindom Construction Co		771
	164,505		King’s Town Construction Co Ltd		92
	359,388		Kite Realty Group Trust		8,557
	1,975,702		Kiwi Property Group Ltd		1,629
	79,600		KLCC Property Holdings BHD		127
	87,679		Klepierre		3,974
	1,284,088		Klovern AB (B Shares)		1,213
	51,821		Korea Real Estate Investment Trust Co		144
	3,505,130	e	Kowloon Development Co Ltd		4,025
	2,413,138	e	K-REIT Asia		1,620
	342,225		KSL Holdings BHD		120
	187,685		Kungsleden AB		1,261
	390,185		Kuoyang Construction Co Ltd		132
	3,064,624		KWG Property Holding Ltd		2,024
	100,717		Ladder Capital Corp		1,442
	100,237,535		Lai Fung Holdings Ltd		1,584
	65,613,250	e	Lai Sun Development Co Ltd		1,029
	41,574		Lamar Advertising Co		2,169
	39,121	*	Lamda Development S.A.		203
	872,021		Land Securities Group plc		16,624
	4,175,500	e	Langham Hospitality Investments Ltd		1,463
	61,574		Lar Espana Real Estate Socimi S.A.		588
	433,071		LaSalle Hotel Properties		12,295
	455,800		LBS Bina Group BHD		148
	418,693	*	LC Corp S.A.		202
	58,517		LEG Immobilien AG.		4,841
	412,842		Lend Lease Corp Ltd		3,655
	237,011	*	Leopalace21 Corp		1,106
	904,846		Lexington Realty Trust		7,329
	383,809		Liberty International plc		1,916
	93,459		Liberty Property Trust		2,945
	34,401	*	Lifestyle Properties Development Ltd		8
	1,378,281		Link REIT		7,588
	1,686,700		Lippo-Mapletree Indonesia Retail Trust		379
	412,000		Liu Chong Hing Investment		436
	3,774,000	e	Logan Property Holdings Co Ltd		1,613
	612,545		London & Stamford Property plc		1,522
	844,000		Long Bon International Co Ltd		539
	1,842,620		Longfor Properties Co Ltd		2,333
	544,800		LPN Development PCL		256
	57,800		LPS Brasil Consultoria de Imoveis S.A.		42
	220,837		LSR Group (GDR)		400
	111,470		LTC Properties, Inc		4,756
	400,000	*	LVGEM China Real Estate Investment Co Ltd		118
	168,300		Macerich Co		12,929
	349,613		Mack-Cali Realty Corp		6,601
	1,075,228		Macquarie CountryWide Trust		3,084
	2,827,724		Macquarie Goodman Group		11,688
	1,315,590		Macquarie MEAG Prime REIT		698
	6,260,000	*,e	Madex International Holdings Ltd		143

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,036,076		Mah Sing Group BHD	$	607
	6,100	*,e	Mainstreet Equity Corp		143
	35,779	*,e,m	Mapeley Ltd		1
	2,989,087		Mapletree Commercial Trust		2,637
	5,702,800		Mapletree Greater China Commercial Trust		3,733
	3,488,204	e	Mapletree Industrial Trust		3,640
	1,435,005		Mapletree Logistics Trust		989
	169,381	*	Marcus & Millichap, Inc		7,790
	887,508		Matrix Concepts Holdings BHD		463
	90,702		Mazaya Qatar Real Estate Development Q.S.C		392
	1,098,900		MBK PCL		433
	895,952		Medical Properties Trust, Inc		9,909
	132,426	*	Medinet Nasr Housing		376
	48,016,600		Megaworld Corp		4,495
	47,195		Melisron Ltd		1,756
	51,941		Mercialys S.A		1,123
	314,695	*	Merlin Properties Socimi S.A.		3,748
	2,307,600		Mexico Real Estate Management S.A. de C.V.		2,914
	1,185,904	e	MFA Mortgage Investments, Inc		8,076
	939	*,e	MID Reit, Inc		2,446
	195,018		Mid-America Apartment Communities, Inc		15,966
	2,008,929	*,e	Midland Holdings Ltd		833
	154,606		Milestone Apartments Real Estate Investment Trust		1,776
	1,412,000	e	Minmetals Land Ltd		138
	1,950,876		Mirvac Group		2,369
	873,880		Mitsubishi Estate Co Ltd		17,851
	1,653,241		Mitsui Fudosan Co Ltd		45,318
	149,400		MKH BHD		77
	6,132		Mobimo Holding AG.		1,237
	150,035	e	Monmouth Real Estate Investment Corp (Class A)		1,463
	435,204	e	Monogram Residential Trust, Inc		4,052
	36,746		Morguard Real Estate Investment Trust		376
	1,897		Mori Hills REIT Investment Corp		2,233
	1,559		Mori Trust Sogo Reit, Inc		2,671
	85,034		Multiplan Empreendimentos Imobiliarios S.A.		909
	114,117		National Health Investors, Inc		6,561
	278,774		National Retail Properties, Inc		10,111
	83,242		National Storage Affiliates Trust		1,128
	1,348,000	e	Neo-China Land Group Holdings Ltd		251
	304,000		New Century Real Estate Investment Trust		123
	885,477		New Residential Investment Corp		11,600
	276,116		New Senior Investment Group, Inc		2,888
	3,214,614		New World China Land Ltd		1,912
	15,995,671		New World Development Co Ltd		15,578
	277,784	e	New York Mortgage Trust, Inc		1,525
	310,942		NewRiver Retail Ltd		1,650
	29,395		Nexity		1,268
	51,194	e	NexPoint Residential Trust, Inc		684
	133,752		Nieuwe Steen Investments NV		519
	1,169	*	Nippon Accommodations Fund, Inc		3,886
	437		Nippon Building Fund, Inc		2,115
	1,321	*	Nippon ProLogis REIT, Inc		2,397

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	783		NIPPON REIT Investment Corp	$	1,686
	25,067	*	Nitsba Holdings 1995 Ltd		442
	507,201		Nomura Real Estate Holdings, Inc		10,197
	1,215	e,m	Nomura Real Estate Master Fund, Inc		1,548
	401	e,m	Nomura Real Estate Office Fund, Inc		1,789
	154	e,m	Nomura Real Estate Residential Fund, Inc		851
	16,695		Northern Property Real Estate Investment Trust		247
	908,237		NorthStar Realty Finance Corp		11,217
	20,452		NorthWest Healthcare Properties Real Estate Investment Trust		123
	236,029	*,e	Norwegian Property ASA		262
	130,136		NTT Urban Development Corp		1,199
	99,931		Oberoi Realty Ltd		417
	684,668		Omega Healthcare Investors, Inc		24,066
	46,859	e	One Liberty Properties, Inc		1,000
	51,200		Open House Co Ltd		792
	57,366	e	Orchid Island Capital, Inc		531
	4,473	*	Orix JREIT, Inc		6,051
	738,400		OUE Hospitality Trust		415
	243,311		Outfront Media, Inc		5,061
	1,124,905	*	Palm Hills Developments SAE		287
	378,785		Paramount Group, Inc		6,364
	733,500	e	Parkway Life Real Estate Investment Trust		1,186
	229,715		Parkway Properties, Inc		3,574
	2,442,741		Parque Arauco S.A.		4,193
	37,644	*	Patrizia Immobilien AG.		900
	531,600		Pavilion Real Estate Investment Trust		182
	300,004	e	Pebblebrook Hotel Trust		10,635
	190,869	e	Pennsylvania REIT		3,785
	190,087		Pennymac Mortgage Investment Trust		2,941
	394,300	*,e	Perennial Real Estate Holdings Ltd		260
	1,515,959		Phoenix Mills Ltd		7,483
	196,380		Physicians Realty Trust		2,963
	86,891		Piedmont Office Realty Trust, Inc		1,554
	1,480,500		PLA Administradora Industrial S de RL de C.V.		2,695
	900	*	Plazza AG.		181
	222,392		Plum Creek Timber Co, Inc		8,787
	23,737		Polski Holding Nieruchomosci S.A.		116
	2,495,817	e	Poly Hong Kong Investment Ltd		690
	8,341,160		Polytec Asset Holdings Ltd		1,113
	492,064		Post Properties, Inc		28,682
	179,766		Potlatch Corp		5,175
	3,836,000		Powerlong Real Estate Holdings Ltd		716
	1,015,495	e	Precinct Properties New Zealand Ltd		738
	80,951	e	Preferred Apartment Communities, Inc		881
	437	*,e	Premier Investment Co		2,177
	225,379		Primary Health Properties plc		1,381
	118,957		Prime Office AG.		583
	2,475,826		Prince Housing & Development Corp		749
	487,500		ProLogis Property Mexico S.A. de C.V.		748
	1,543,634		Prologis, Inc		60,047
	2,895,000		Prosperity REIT		993

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	117,207		PS Business Parks, Inc	$	9,304
	47,283		PSP Swiss Property AG.		3,887
	24,504,700		PT Agung Podomoro Land Tbk		503
	17,816,500		PT Alam Sutera Realty Tbk		386
	3,609,000		PT Bekasi Fajar Industrial Estate Tbk		68
	5,797,027		PT Bumi Serpong Damai		558
	31,176,531		PT Ciputra Development Tbk		1,743
	15,573,214		PT Ciputra Property Tbk		353
	3,644,322		PT Ciputra Surya Tbk		411
	6,006,400		PT Intiland Development Tbk		241
	103,264,330		PT Kawasan Industri Jababeka Tbk		1,131
	407,700	*	PT Lippo Cikarang Tbk		186
	61,072,297		PT Lippo Karawaci Tbk		4,718
	22,264,900		PT Modernland Realty Tbk		660
	5,991,200	*	PT Nirvana Development Tbk		57
	20,717,800		PT Pakuwon Jati Tbk		470
	21,461,100		PT Sentul City Tbk		110
	9,166,700		PT Summarecon Agung Tbk		704
	536,059		Public Storage, Inc		113,446
	4,346,170		Puravankara Projects Ltd		4,117
	294,562		Pure Industrial Real Estate Trust		980
	94,769		QTS Realty Trust, Inc		4,140
	4,180,635		Quality House PCL		279
	519,005	*	Quintain Estates & Development plc		1,105
	625,433		Radium Life Tech Co Ltd		207
	230,907		RAIT Investment Trust		1,145
	995,495		RAK Properties PJSC		166
	414,263		Ramco-Gershenson Properties		6,218
	233,740	e	Rayonier, Inc		5,159
	19,100	*,e	Raysum Co Ltd		170
	34,350		Re/Max Holdings, Inc		1,236
	1,389,765	*	Realogy Holdings Corp		52,297
	91,126	e	Realty Income Corp		4,318
	848,763		Rebosis Property Fund Ltd		646
	946,000	g	Redco Properties Group Ltd		661
	1,905,744		Redefine International plc		1,518
	8,380,981		Redefine Properties Ltd		7,084
	217,737	e	Redwood Trust, Inc		3,013
	26,271,000	e	Regal Real Estate Investment Trust		6,453
	660,921		Regency Centers Corp		41,076
	152,278		Reit  Ltd		400
	20,200		Relo Holdings, Inc		1,979
	17,481,250	*,e	Renhe Commercial Holdings Co Ltd		944
	252,622		Resilient Property Income Fund Ltd		2,117
	81,156	e	Resource Capital Corp		907
	501,571		Retail Opportunities Investment Corp		8,296
	538,947		Retail Properties of America, Inc		7,594
	388,393		Rexford Industrial Realty, Inc		5,356
	422,996		RioCan Real Estate Investment Trust		8,073
	526,502		RLJ Lodging Trust		13,305
	455,000		Road King Infrastructure		397
	1,622,100		Robinsons Land Corp		989

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	238,884		Rojana Industrial Park PCL	$	38
	95,134	e	Rouse Properties, Inc		1,482
	786,251		Ruentex Development Co Ltd		859
	111,758		Ryman Hospitality Properties		5,502
	3,723,443		S.A. Corporate Real Estate Fund Nominees Pty Ltd		1,368
	566,740	e	Sabana Shari’ah Compliant Industrial REIT		301
	252,358		Sabra Healthcare REIT, Inc		5,850
	560,957		Safestore Holdings plc		2,501
	120,000		Saizen REIT		68
	4,964,277		Sansiri PCL		233
	38,600		Sao Carlos Empreendimentos e Participacoes S.A.		239
	39,004	e	Saul Centers, Inc		2,018
	343,634		Savills plc		4,751
	1,642,700		SC Asset Corp PCL		130
	11,463,854		Scentre Group		31,552
	505,333		Schroder Real Estate Investment Trust Ltd		445
	856,641		Segro plc		5,573
	737	*	Sekisui House Reit, Inc		762
	999	e	Sekisui House SI Residential Investment Corp		855
	164,778		Select Income REIT		3,132
	98,711		Selvaag Bolig ASA		292
	189,899		Senior Housing Properties Trust		3,076
	742,277		Shaftesbury plc		10,306
	250,340		Shanghai Jinqiao Export Processing Zone Development Co Ltd		368
	72,000		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		196
	19,995,430	m	Shanghai Real Estate Ltd		987
	103,400	*	Shenzhen International Enterprise Co Ltd		119
	8,963,668		Shenzhen Investment Ltd		3,179
	233,100	*	Shenzhen SEG Co Ltd		138
	6,343,325		Shimao Property Holdings Ltd		9,586
	352,913	*	Shining Building Business Co Ltd		113
	56,332		Shoei Co Ltd		510
	682,105		Shopping Centres Australasia Property Group		938
	18,517,167	e	Shui On Land Ltd		4,274
	480	*	SIA Reit, Inc		1,768
	851,716		Siam Future Development PCL		129
	270,232		Silver Bay Realty Trust Corp		4,326
	1,224,412		Simon Property Group, Inc		224,949
	992,600		SingHaiyi Group Ltd		71
	8,047,422		Sino Land Co		12,253
	1,834,000	*,e	Sinolink Worldwide Holdings Ltd		200
	18,566,017		Sino-Ocean Land Holdings Ltd		10,160
	209,614		Sinyi Realty Co		177
	171,071	*	Six of October Development & Investment		195
	449,302	e	SL Green Realty Corp		48,597
	13,881,716		SM Prime Holdings		6,150
	204,789		Smart Real Estate Investment Trust		4,693
	587,546		Sobha Developers Ltd		2,497
	6,370,850		Soho China Ltd		2,484
	645,000		Soilbuild Business Space REIT		365

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	65,600		Sonae Sierra Brasil S.A.	$	240
	164,461		Sovran Self Storage, Inc		15,509
	108,749		Sparkassen Immobilien AG.		924
	714,700	e	SPH REIT		470
	847,831		Spirit Realty Capital, Inc		7,749
	601,899		Sponda Oyj		2,350
	1,142,000	e	Spring Real Estate Investment Trust		449
	545,806		ST Modwen Properties plc		3,432
	140,223	*,e	St. Joe Co		2,682
	312,330		STAG Industrial, Inc		5,688
	2,055,023	e	Starwood Property Trust, Inc		42,169
	102,617	e	Starwood Waypoint Residential Trust		2,445
	3,214,565		Stockland Trust Group		8,733
	234,214		STORE Capital Corp		4,839
	1,425,727	*	Strategic Hotels & Resorts, Inc		19,661
	16,940		Sumitomo Real Estate Sales Co Ltd		433
	871,286		Sumitomo Realty & Development Co Ltd		27,731
	446,550		Summit Hotel Properties, Inc		5,211
	140,552		Sun Communities, Inc		9,524
	21,100	e	Sun Frontier Fudousan Co Ltd		160
	4,094,620		Sun Hung Kai Properties Ltd		53,407
	2,221,000	e	Sunac China Holdings Ltd		1,165
	2,336,000	e	Sunlight Real Estate Investment Trust		1,145
	1,053,352		Sunstone Hotel Investors, Inc		13,936
	1,909,298		Suntec Real Estate Investment Trust		2,017
	1,828,634		Sunteck Realty Ltd		6,175
	1,679,358		Sunway BHD		1,204
	1,360,800		Sunway Real Estate Investment		480
	492,400		Supalai PCL		249
	804,193		Swire Pacific Ltd (Class A)		9,014
	4,557,701		Swire Properties Ltd		12,633
	62,786		Swiss Prime Site AG.		4,587
	350,765	e	TAG Tegernsee Immobilien und Beteiligungs AG.		4,161
	460,534		Taiwan Land Development Corp		148
	81,300		Takara Leben Co Ltd		399
	1,183,354		Talaat Moustafa Group		1,031
	220,330		Tanger Factory Outlet Centers, Inc		7,264
	40,751		Taubman Centers, Inc		2,815
	89,073	e	Technopolis plc		343
	41,456	*,e	Tejon Ranch Co		904
	212,499		Terreno Realty Corp		4,173
	298,000		Tian Shan Development Holding Ltd		128
	540,480		Ticon Industrial Connection PCL (Foreign)		173
	408,000		Times Property Holdings Ltd		148
	55,046		TLG Immobilien AG.		998
	52,100	e	TOC Co Ltd		366
	549,300		Tokyo Tatemono Co Ltd		6,549
	105,315		Tokyu Fudosan Holdings Corp		701
	999	*,e	Tokyu REIT, Inc		1,290
	921		Top REIT Inc		3,557
	984,500		Top Spring International Holdings Ltd		458
	472,069		Torunlar Gayrimenkul Yatirim Ortakligi AS		475

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,639,700		Tosei Corp	$	10,574
	951,612		Tropicana Corp BHD		198
	572,587		Tuan Sing Holdings Ltd		117
	1,110,315		Two Harbors Investment Corp		9,793
	303,215,096	*	U City PCL		334
	269,339		UDR, Inc		9,287
	1,268,600		UEM Land Holdings BHD		355
	80,439	e	UMH Properties, Inc		748
	110,683	*	Unibail-Rodamco		28,687
	853,715		Union Properties PJSC		221
	251,842		Unite Group plc		2,490
	91,780,547	*	Unitech Ltd		8,641
	92,015		United Development Co PSC		592
	79,212	e	United Development Funding IV		1,394
	183,440	e	United Overseas Land Ltd		777
	939	*	United Urban Investment Corp		1,254
	699,400		Univentures PCL		116
	37,763		Universal Health Realty Income Trust		1,773
	895,348		UOA Development BHD		391
	355,125		Urban Edge Properties		7,667
	89,870		Urstadt Biddle Properties, Inc (Class A)		1,684
	360,000		Vanke Property Overseas Ltd		257
	19,589		Vastned Retail NV		851
	746,954		Ventas, Inc		41,874
	1,173,964	*	VEREIT, Inc		9,063
	14,001,300		Vista Land & Lifescapes, Inc		1,509
	231,010		Vornado Realty Trust		20,888
	1,468,911		Vukile Property Fund Ltd		1,952
	180,812		Wallenstam AB		1,487
	1,297,000	*,e	Wanda Hotel Development Co Ltd		200
	28,174		Warehouses De Pauw SCA		2,185
	174,254	e	Washington REIT		4,344
	82,611		Weingarten Realty Investors		2,735
	573,433		Welltower, Inc		38,833
	43,964		Wereldhave NV		2,538
	104,879	e	Western Asset Mortgage Capital Corp		1,323
	2,335,990		Westfield Corp		16,438
	488,355		Weyerhaeuser Co		13,352
	4,923,850	*	WHA Corp PCL		429
	10,642,676		Wharf Holdings Ltd		60,050
	1,826,064		Wheelock & Co Ltd		7,930
	432,697	e	Wheelock Properties S Ltd		458
	96,585	e	Whitestone REIT		1,114
	195,594		Wihlborgs Fastigheter AB		3,507
	448,932	e	Wing Tai Holdings Ltd		527
	337,168		Workspace Group plc		4,789
	49,909		WP Carey, Inc		2,885
	1,636,423		WP GLIMCHER, Inc		19,081
	1,676,000	e	Wuzhou International Holdings Ltd		253
	294,167	e	Xenia Hotels & Resorts, Inc		5,136
	2,853,400	e	Yanlord Land Group Ltd		2,039
	964,500	*	Ying Li International Real Estate Ltd		117

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,961		YNH Property BHD	$	5
	1,098,666	*,e	Yoma Strategic Holdings Ltd		283
	205,700		YTL Hospitality REIT		48
	4,034,000		Yuexiu Real Estate Investment Trust		2,049
	34,648,793		Yuexiul Property Co Ltd		5,708
	34,800		Yungshin Construction & Development Co Ltd		33
	4,835,120	e	Yuzhou Properties Co		1,126
	506,000	e	Zall Development Group Ltd		338
	3,671,800		Zhong An Real Estate Ltd		414
			TOTAL REAL ESTATE		4,399,910
RETAILING - 4.4%
	322,338	*,e	1-800-FLOWERS.COM, Inc (Class A)		2,933
	136,932		Aaron’s, Inc		4,945
	125,939		ABC-Mart, Inc		7,041
	181,310	e	Abercrombie & Fitch Co (Class A)		3,842
	50,510		Adastria Holdings Co Ltd		3,026
	195,126		Advance Auto Parts, Inc		36,982
	23,200	e	Alpen Co Ltd		370
	1,768,967	*	Amazon.com, Inc		905,517
	553,843	e	American Eagle Outfitters, Inc		8,657
	20,088	*	America’s Car-Mart, Inc		665
	200,597	*,e	AO World plc		511
	44,500		AOKI Holdings, Inc		541
	54,741		Aoyama Trading Co Ltd		1,931
	12,300		Arc Land Sakamoto Co Ltd		265
	71,476	*	Asbury Automotive Group, Inc		5,800
	1,564,026	*	Ascena Retail Group, Inc		21,756
	23,700		ASKUL Corp		902
	166,201	*	ASOS plc		6,966
	60,688		Autobacs Seven Co Ltd		1,008
	19,407	e	AutoCanada, Inc		376
	299,019		Automotive Holdings Group Ltd		833
	227,975	*	Autonation, Inc		13,264
	121,996	*	AutoZone, Inc		88,304
	4,406,006		B&M European Value Retail S.A.		21,738
	121,600	*	B2W Companhia Global Do Varejo		456
	2,366,500	e	Baoxin Auto Group Ltd		1,010
	358,065	*,e	Barnes & Noble Education, Inc		4,551
	186,324		Barnes & Noble, Inc		2,256
	14,219,510		Beauty Community PCL (ADR)		1,779
	1,948,400		Beauty Community PCL (Foreign)		244
	115,739	e	Bebe Stores, Inc		109
	373,684	*,e	Bed Bath & Beyond, Inc		21,307
	119,300		Belluna Co Ltd		652
	2,116,360		Berjaya Auto BHD		944
	4,134,604		Best Buy Co, Inc		153,477
	76,500	e	BIC CAMERA, Inc		665
	47,515		Big 5 Sporting Goods Corp		493
	291,784	e	Big Lots, Inc		13,982
	111,272		Bilia AB		2,232
	96,926	*,e	Blue Nile, Inc		3,251

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,759,800	e	Bonjour Holdings Ltd	$	317
	703,845	*,e	boohoo.com plc		346
	32,138	*	Boot Barn Holdings, Inc		592
	537,000	*,e,m	Boshiwa International Holding		1
	85,999	e	Breville Group Ltd		358
	73,575	e	Buckle, Inc		2,720
	47,167	*	Build-A-Bear Workshop, Inc		891
	224,474	*	Burlington Stores, Inc		11,457
	175,934		Byggmax Group AB		1,569
	103,952	*,e	Cabela’s, Inc		4,740
	185,279		Caleres, Inc		5,657
	76,445		Canadian Tire Corp Ltd		6,877
	189,900		Canon Marketing Japan, Inc		2,809
	433,378		Card Factory plc		2,570
	1,329,102	*,e	Carmax, Inc		78,842
	302,612	e	Cash Converters International Ltd		113
	18,128		Cashbuild Ltd		399
	80,284		Cato Corp (Class A)		2,732
	138,783	*,e	CDON Group AB		174
	596,009		Chico’s FAS, Inc		9,375
	88,921	e	Children’s Place Retail Stores, Inc		5,128
	2,614,000	e	China Harmony New Energy Auto Holding Ltd		1,237
	300,000		China Yongda Automobiles Services Holdings Ltd		141
	7,792,000	e	China ZhengTong Auto Services Holdings Ltd		3,217
	24,100		Chiyoda Co Ltd		773
	13,800		Chori Co Ltd		200
	461,000		Chow Sang Sang Holding		923
	84,860	*	Christopher & Banks Corp		94
	145,000		Cia Hering		514
	148,807		Citi Trends, Inc		3,479
	2,973		CJ O Shopping Co Ltd		465
	88,488		Clas Ohlson AB (B Shares)		1,353
	522,849	*	Cnova NV		1,579
	747,000	*,e,g	Cogobuy Group		757
	103,700		COL PCL (Foreign)		104
	69,955	*,e	Conn’s, Inc		1,682
	41,054	*,e	Container Store Group, Inc		578
	91,961		Core-Mark Holding Co, Inc		6,019
	276,334		CST Brands, Inc		9,301
	154,034	*,e	Ctrip.com International Ltd (ADR)		9,732
	763,000	e	Dah Chong Hong Holdings Ltd		307
	293,700		DCM Japan Holdings Co Ltd		2,148
	1,149,504		Debenhams plc		1,376
	112,569		Delek Automotive Systems Ltd		1,055
	5,316	e	Delticom AG.		122
	96,556	*	Destination XL Group, Inc		561
	190,029	e	Dick Smith Holdings Ltd		173
	562,365		Dick’s Sporting Goods, Inc		27,899
	492,286	e	Dickson Concepts International Ltd		177
	25,813		Dieteren S.A.		997
	158,138	e	Dillard’s, Inc (Class A)		13,820
	250,009		Dogus Otomotiv Servis ve Ticaret AS		802

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,174,386		Dollar General Corp	$	85,073
	507,233	*	Dollar Tree, Inc		33,812
	299,290		Dollarama, Inc		20,214
	110,300		Don Quijote Co Ltd		4,156
	20,600	e	Doshisha Co Ltd		378
	251,939		DSW, Inc (Class A)		6,377
	32,263	*	Dufry Group		3,778
	191,573		Dunelm Group plc		2,608
	43,390	*,e,g	Dustin Group AB		283
	95,483	e	EDION Corp		655
	536,076		El Puerto de Liverpool SAB de C.V.		6,962
	4,030,000		Emperor Watch & Jewellery Ltd		133
	2,600,000	*	Empresas La Polar S.A.		62
	2,873,100	e	Esprit Holdings Ltd		2,140
	51,009	*,e	Etsy, Inc		698
	125,045	*	EVINE Live, Inc		328
	907,891		Expedia, Inc		106,841
	433,385	*	Express Parent LLC		7,745
	887,867		Far Eastern Department Stores Co Ltd		473
	67,975		Fast Retailing Co Ltd		27,649
	31,411	*,e	Fenix Parts, Inc		210
	143,442		Finish Line, Inc (Class A)		2,768
	165,799	*,e	Five Below, Inc		5,568
	39,348	*	Folli Follie S.A.		799
	594,109		Foot Locker, Inc		42,758
	221,077	e	Foschini Ltd		2,245
	112,842	*	Francesca’s Holdings Corp		1,380
	98,425		Fred’s, Inc (Class A)		1,166
	47,122	*	FTD Cos, Inc		1,404
	18,900		Fuji Co Ltd		452
	137,456	e	GAME Digital plc		463
	730,860	e	GameStop Corp (Class A)		30,119
	477,151		Gap, Inc		13,599
	77,068	*	Genesco, Inc		4,398
	139,725		Genuine Parts Co		11,582
	164,300	e	Geo Corp		2,625
	3,122,000		Giordano International Ltd		1,508
	250,547		GNC Holdings, Inc		10,127
	524,799	e	Golden Eagle Retail Group Ltd		615
	576,000		Goldlion Holdings Ltd		235
	114,176		GOLFZONYUWONHOLDINGS Co Ltd		792
	14,268,577		GOME Electrical Appliances Holdings Ltd		2,179
	73,800		Group 1 Automotive, Inc		6,284
	10,515	*	Groupe Fnac		600
	4,471,912	*,e	Groupon, Inc		14,578
	815,927	*,e	Grupo Famsa SAB de C.V.		603
	11,175		GS Home Shopping, Inc		1,793
	163,858	e	Guess?, Inc		3,500
	58,200	e	Gulliver International Co Ltd		533
	649		GwangjuShinsegae Co Ltd		170
	582,418		Halfords Group plc		4,073
	5,090,000	e	Hang Fat Ginseng Holdings Co Ltd		381

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	277,825	e	Hankyu Department Stores, Inc	$	5,256
	50,900		Happinet Corp		495
	1,960,617	e	Harvey Norman Holdings Ltd		5,370
	51,515		Haverty Furniture Cos, Inc		1,210
	12,441,923	e	Hengdeli Holdings Ltd		1,783
	860,506		Hennes & Mauritz AB (B Shares)		31,440
	92,350	*,e	Hibbett Sports, Inc		3,233
	26,400		Hikari Tsushin, Inc		1,848
	5,704,245		Home Depot, Inc		658,783
	3,068,065		Home Product Center PCL (Foreign)		580
	762,292		Home Retail Group		1,570
	7,513		Hornbach Baumarkt AG.		281
	275,196		Hotai Motor Co Ltd		2,936
	71,221		Hotel Shilla Co Ltd		6,942
	82,684		HSN, Inc		4,733
	92,808		Hudson’s Bay Co		1,570
	16,680		Hyundai Department Store Co Ltd		1,890
	5,820		Hyundai Home Shopping Network Corp		640
	16,400	e	Ikyu		358
	286,779		Imperial Holdings Ltd		3,516
	1,028,022		Inchcape plc		11,202
	1,174,209		Inditex S.A.		39,373
	200,346		Interpark Corp		2,168
	9,537		Interpark INT Corp		180
	27,274,175	*,e	Intime Retail Group Co Ltd		28,275
	280,128		Isetan Mitsukoshi Holdings Ltd		4,203
	704,000		IT Ltd		184
	36,300		Izumi Co Ltd		1,469
	788,519		J Front Retailing Co Ltd		12,773
	143,009	e	Jardine Cycle & Carriage Ltd		2,717
	509,389	e	JB Hi-Fi Ltd		6,860
	8,711,655	*,e	JC Penney Co, Inc		80,931
	252,971	*	JD.com, Inc (ADR)		6,592
	13,100	e	Jin Co Ltd		615
	61,062		John Menzies plc		383
	83,000		Joshin Denki Co Ltd		644
	30,400	e	Joyful Honda Co Ltd		588
	110,585		JUMBO S.A.		974
	55,839	e	KappAhl Holding AB		144
	29,587	e	Keiyo Co Ltd		127
	1,776,891		Kingfisher plc		9,652
	51,871		Kirkland’s, Inc		1,117
	512,486		Kohl’s Corp		23,733
	26,800		Kohnan Shoji Co Ltd		338
	18,699		Kolao Holdings		215
	32,700	e	Komeri Co Ltd		708
	160,000		Koradior Holdings Ltd		204
	132,163	e	K’s Holdings Corp		4,148
	390,061		L Brands, Inc		35,156
	41,685	*,e	Lands’ End, Inc		1,126
	272,000	*,e	Laox Co Ltd		812
	13,527		LEADCORP, Inc		189

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	306,903	e	Lewis Group Ltd	$	1,373
	7,831,119	e	Li & Fung Ltd		5,999
	1,618,611	*	Liberty Interactive Corp		42,456
	265,742	*	Liberty TripAdvisor Holdings, Inc		5,892
	345,639	*	Liberty Ventures		13,947
	9,130	*	LiHOM-CUCHEN Co Ltd		55
	59,271		Lithia Motors, Inc (Class A)		6,408
	505,814	*	LKQ Corp		14,345
	103,737		Lojas Americanas S.A.		309
	511,004		Lojas Americanas S.A.(Preference)		2,088
	1,198,820		Lojas Renner S.A.		5,564
	670,646		Lookers plc		1,694
	40,081		LOTTE Himart Co Ltd		2,244
	11,876		Lotte Shopping Co Ltd		2,870
	3,317,718	e	Lowe’s Companies, Inc		228,657
	377,000	e	Luk Fook Holdings International Ltd		945
	70,296	*,e	Lumber Liquidators, Inc		924
	1,267,952		Macy’s, Inc		65,071
	66,000		Magazine Luiza S.A.		30
	100,553	*,e	MakeMyTrip Ltd		1,383
	2,933,000	e	Maoye International Holdings Ltd		382
	68,332	*	MarineMax, Inc		966
	59,290		Marisa Lojas S.A.		105
	4,405,124		Marks & Spencer Group plc		33,438
	537,223	e	Marui Co Ltd		6,480
	102,240		Matas A.S.		1,914
	31,700	e	Matsuya Co Ltd		459
	52,093	*,e	Mattress Firm Holding Corp		2,175
	360,900		MBM Resources BHD		237
	24,448		Mekonomen AB		567
	145,442	e	Men’s Wearhouse, Inc		6,184
	1,846,908		MFI Furniture plc		13,629
	164,022	*	Michaels Cos, Inc		3,789
	504,880	*	Mobile World Investment Corp		1,375
	73,004		Mobilezone Holding AG.		1,000
	34,000		momo.com, Inc		202
	82,718		Monro Muffler, Inc		5,588
	221,224	*	Mothercare plc		740
	408,578		Mr Price Group Ltd		5,704
	219,092	*	Murphy USA, Inc		12,039
	770,155	e	Myer Holdings Ltd		478
	163,477	e	N Brown Group plc		758
	376,000		National Petroleum Co Ltd		408
	1,552,668	*	NetFlix, Inc		160,328
	835,085		New Carphone Warehouse plc		5,367
	537,000		New World Department Store China Ltd		91
	306,084		Next plc		35,274
	47,700		Nishimatsuya Chain Co Ltd		442
	95,612		Nitori Co Ltd		7,487
	49,200	*,e	Nojima Corp		543
	203,209		Nordstrom, Inc		14,572
	223,767		Nutri/System, Inc		5,934

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	509,941	*,e	Ocado Ltd	$	2,474
	4,509,052	*	Office Depot, Inc		28,948
	24,567	*	Ollie’s Bargain Outlet Holdings, Inc		397
	385,172	*	O’Reilly Automotive, Inc		96,293
	254,600	e	OSIM International Ltd		291
	90,127	e	Outerwall, Inc		5,131
	29,327	*,e	Overstock.com, Inc		503
	2,291,298		Pacific Brands Ltd		1,150
	1,350,100		Padini Holdings BHD		415
	11,100		Pal Co Ltd		321
	130,100		Paltac Corp		2,352
	557,224		Pantaloon Retail India Ltd		1,039
	21,700		Parco Co Ltd		174
	325,216	*	Parkson Holdings BHD		90
	985,500	e	Parkson Retail Group Ltd		131
	136,588	*,e	Party City Holdco, Inc		2,181
	114,382		PC Jeweller Ltd		618
	135,503		Penske Auto Group, Inc		6,564
	226,972	*	PEP Boys - Manny Moe & Jack		2,767
	50,545	e	PetMed Express, Inc		814
	363,312	e	Pets at Home Group plc		1,517
	232,804	e	Pier 1 Imports, Inc		1,606
	5,209,500	*	Pou Sheng International Holdings Ltd		880
	197,286		Poundland Group plc		836
	49,810		Poya Co Ltd		497
	18,692		PPR		3,060
	83,950		Premier Investments Ltd		761
	156,460	*	Priceline.com, Inc		193,519
	7,998,200		PT ACE Hardware Indonesia Tbk		276
	5,044,315		PT Matahari Department Store Tbk		5,572
	718,700		PT Mitra Adiperkasa Tbk		148
	3,069,700		PT Mitra Pinasthika Mustika Tbk		105
	21,509,600		PT Multipolar Corp Tbk		453
	9,160,400		PT Ramayana Lestari Sentosa Tbk		323
	2,542,700		PT Tiphone Mobile Indonesia Tbk		124
	3,474,100		PTG Energy PCL		1,411
	1,179,223	*	Rakuten, Inc		15,073
	100,630		Reitmans Canada Ltd		318
	154,573	e	Rent-A-Center, Inc		3,748
	127,269	*,e	Restoration Hardware Holdings, Inc		11,875
	1,782,310		Ripley Corp S.A.		589
	38,833	*	Risa International Ltd		6
	240,081		RONA, Inc		2,448
	659,050		Ross Stores, Inc		31,944
	18,900		Ryohin Keikaku Co Ltd		3,848
	1,058,000	e	SA SA International Holdings Ltd		409
	1,252,811		SACI Falabella		7,763
	392,108	*	Sally Beauty Holdings, Inc		9,313
	38,358	e	Sanrio Co Ltd		1,048
	57,137	e	Sears Canada, Inc		372
	20,263	*,e	Sears Holdings Corp		458
	275,961	*	Select Comfort Corp		6,038

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	290,000		Senao International Co Ltd	$	399
	33,700	e	Senshukai Co Ltd		211
	11,791	*	Seobu Truck Terminal Co Ltd		222
	37,300		Seria Co Ltd		1,841
	156,300	e	Shimachu Co Ltd		3,424
	65,703		Shimamura Co Ltd		7,077
	6,964		Shinsegae Co Ltd		1,394
	2,331		Shinsegae International Co Ltd		249
	35,769		Shoe Carnival, Inc		851
	20,931		Shopper’s Stop Ltd		121
	96,090	*	Shutterfly, Inc		3,435
	984,557		Siam Global House PCL		318
	1,423,000		Sichuan Xinhua Winshare Chainstore Co Ltd		1,125
	136,659		Signet Jewelers Ltd		18,603
	1,630,000	e	Sincere Watch Hong Kong Ltd		184
	112,084		Sonic Automotive, Inc (Class A)		2,289
	706,851	*	Sports Direct International plc		8,109
	43,730	*,e	Sportsman’s Warehouse Holdings, Inc		539
	2,616,000	e	Springland International Holdings Ltd		694
	1,045,800	*	SSI Group, Inc		136
	142,656	e	Stage Stores, Inc		1,404
	3,171,172		Staples, Inc		37,198
	72,500		Start Today Co Ltd		2,400
	83,679		Stein Mart, Inc		810
	31,098	e	Stockmann Oyj Abp (B Share)		242
	143,240	e	Super Cheap Auto Group Ltd		901
	381,428	*	Super Group Ltd		798
	39,943	*	SuperGroup plc		824
	48,109	*	Systemax, Inc		360
	40,000		Syuppin Co Ltd		396
	350,819		Takashimaya Co Ltd		2,835
	71,995		Takkt AG.		1,353
	2,223,560		Target Corp		174,905
	26,300		Telepark Corp		410
	7,745,865		Test-Rite International Co		4,724
	388,463		Thorn Group Ltd		545
	308,770		Tiffany & Co		23,843
	70,867	*,e	Tile Shop Holdings, Inc		849
	160,662	*	Tilly’s, Inc		1,182
	1,585,957		TJX Companies, Inc		113,269
	15,500		Tokyo Derica Co Ltd		265
	19,525	*,e	Tom Tailor Holding AG.		109
	306,093		Tractor Supply Co		25,810
	379,217		Trade Me Ltd		890
	438,915	e	Travelport Worldwide Ltd		5,802
	8,615		Trent Ltd		171
	257,510	*	TripAdvisor, Inc		16,228
	468,025	e	Truworths International Ltd		2,876
	174,203	e	Tsutsumi Jewelry Co Ltd		3,584
	116,438	*,e	Tuesday Morning Corp		630
	241,275	*	Ulta Salon Cosmetics & Fragrance, Inc		39,412
	22,099		United Arrows Ltd		912

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	141,856	*	Urban Outfitters, Inc	$	4,168
	226,703		USS Co Ltd		3,771
	8,396		Valora Holding AG.		1,599
	41,220		Via Varejo S.A.		41
	220,000	*,e	Vipshop Holdings Ltd (ADR)		3,696
	99,771	*,e	Vitamin Shoppe, Inc		3,257
	55,781	*	VOXX International Corp (Class A)		414
	73,200		VT Holdings Co Ltd		441
	118,343		Warehouse Group Ltd		190
	79,216	*,e	Wayfair, Inc		2,777
	80,430	*	West Marine, Inc		706
	126,905		WH Smith plc		3,008
	323,359		Williams-Sonoma, Inc		24,688
	11,275		Winmark Corp		1,160
	1,136,654		Woolworths Holdings Ltd		7,955
	125,454	*,e	World Duty Free S.p.A		1,435
	30,700	e	Xebio Co Ltd		551
	331,123	g	XXL ASA		3,226
	676,885	e	Yamada Denki Co Ltd		2,729
	45,500	e	Yellow Hat Ltd		986
	91,744	*	Yoox S.p.A		2,762
	628,523	e	Zhongsheng Group Holdings Ltd		256
	5,286	*	zooplus AG.		669
	163,861	*,e	zulily, Inc		2,851
	52,932	*,e	Zumiez, Inc		827
			TOTAL RETAILING		4,848,160
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.4%
	235,965		A-DATA Technology Co Ltd		238
	193,315	*	Advanced Energy Industries, Inc		5,084
	1,653,665	*,e	Advanced Micro Devices, Inc		2,844
	38,994,968		Advanced Semiconductor Engineering, Inc		42,488
	192,500	e	Advantest Corp		1,384
	102,905	*,e	Aixtron AG.		625
	282,000		ALI Corp		134
	76,538	*,e	Alpha & Omega Semiconductor Ltd		596
	625,023		Altera Corp		31,301
	167,348	*,e	Ambarella, Inc		9,671
	287,428	*,e	Amkor Technology, Inc		1,291
	169,725		ams AG.		6,333
	711,382		Analog Devices, Inc		40,129
	14,100	e	AOI Electronics Co Ltd		407
	2,492,592		Applied Materials, Inc		36,616
	214,695	*,e	Applied Micro Circuits Corp		1,140
	356,176		Ardentec Corp		233
	3,229,236		ARM Holdings plc		46,395
	225,194	e	ARM Holdings plc (ADR)		9,740
	52,540		ASM International NV		1,705
	533,023	e	ASM Pacific Technology		3,496
	21,000		ASMedia Technology, Inc		98
	575,087		ASML Holding NV		50,552
	1,445,851		Atmel Corp		11,668

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,337	*	Atto Co Ltd	$	367
	1,237,214		Avago Technologies Ltd		154,664
	296,051	*	Axcelis Technologies, Inc		790
	203,854		BE Semiconductor Industries NV		3,174
	3,029,235		Broadcom Corp (Class A)		155,794
	174,164		Brooks Automation, Inc		2,039
	112,032	*	Cabot Microelectronics Corp		4,340
	42,998	*	Cascade Microtech, Inc		608
	318,369	*	Cavium Networks, Inc		19,538
	54,408	*	Ceva, Inc		1,010
	1,630,000	e	China Electronics Corp Holdings Co Ltd		509
	11,538	*,e,m	China Energy Savings Technology, Inc		0
	3,360,000	*	China Jinhai International Group Ltd		332
	753,000		Chipbond Technology Corp		1,096
	151,651		ChipMOS TECHNOLOGIES Bermuda Ltd		2,490
	921,000		ChipMOS Technologies, Inc		905
	352,521	*	Cirrus Logic, Inc		11,108
	99,061		Cohu, Inc		977
	754,000	*	Comtec Solar Systems Group Ltd		61
	159,502	*,e	Cree, Inc		3,865
	416,514		Cypress Semiconductor Corp		3,549
	20,711		D.I Corp		147
	407,616		Dainippon Screen Manufacturing Co Ltd		1,993
	124,072	*,e	Dialog Semiconductor plc		4,978
	99,116	*	Diodes, Inc		2,118
	52,172	e	Disco Corp		3,669
	22,976	*	Dongbu HiTek Co Ltd		275
	79,708	*	DSP Group, Inc		726
	655,000		Elan Microelectronics Corp		678
	74,400		Elite Advanced Laser Corp		299
	235,000		Elite Semiconductor Memory Technology, Inc		178
	60,571		eMemory Technology, Inc		600
	354,820	*	Entegris, Inc		4,680
	8,454		Eo Technics Co Ltd		787
	1,155,054		Epistar Corp		894
	278,167	*	E-Ton Solar Tech Co Ltd		94
	14,602		Eugene Technology Co Ltd		150
	1,684,000		Everlight Electronics Co Ltd		2,546
	113,366	*	Exar Corp		675
	41,186	*,m	EZchip Semiconductor Ltd		1,050
	477,623	*	Fairchild Semiconductor International, Inc		6,706
	201,060		Faraday Technology Corp		249
	140,077	*	First Solar, Inc		5,988
	3,296,000		Forhouse Corp		1,193
	275,221	*	Formfactor, Inc		1,866
	153,000		Formosa Advanced Technologies Co Ltd		92
	190,279	*	Freescale Semiconductor Holdings Ltd		6,960
	11,654,847	*,e	GCL Poly Energy Holdings Ltd		2,258
	23,187	*	GemVax & Kael Co Ltd		667
	25,686		Giga Solar Materials Corp		396
	263,986	*	Gigastorage Corp		155
	368,273	*	Gintech Energy Corp		170

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	71,000		Global Mixed Mode Technology, Inc	$	116
	91,000		Global Unichip Corp		161
	179,300		Globetronics Technology BHD		255
	1,455,000		Greatek Electronics, Inc		1,248
	241,561	*	Green Energy Technology, Inc		94
	1,567,300		Hana Microelectronics PCL (Foreign)		1,224
	7,793		Hanmi Semiconductor Co Ltd		67
	13,556	*	Hansol LCD, Inc		273
	165,036		Hermes Microvision, Inc		6,291
	171,000		Holtek Semiconductor, Inc		222
	1,534,000	*,g	Hua Hong Semiconductor Ltd		1,554
	1,047,827		Hynix Semiconductor, Inc		29,885
	266,540	*,e	Imagination Technologies Group plc		888
	1,572,362		Infineon Technologies AG.		17,666
	2,142,644	*	Inotera Memories, Inc		1,347
	97,217	*	Inphi Corp		2,337
	575,417	*	Integrated Device Technology, Inc		11,681
	78,953		Integrated Silicon Solution, Inc		1,697
	18,179,806		Intel Corp		547,939
	347,825		Intersil Corp (Class A)		4,070
	7,544		ISC Co Ltd		162
	102,818		IXYS Corp		1,147
	4,464,000		King Yuan Electronics Co Ltd		2,847
	310,350		Kinsus Interconnect Technology Corp		597
	394,187		Kla-Tencor Corp		19,709
	11,551		Koh Young Technology, Inc		335
	50,312	*,e	Kontron AG.		142
	224,892	*,e	Kopin Corp		706
	3,457	*	Kulicke & Soffa Industries, Inc		32
	639,824	e	Lam Research Corp		41,800
	9,074,000	*	Landing International Development		254
	312,151	*	Lattice Semiconductor Corp		1,202
	9,242		LEENO Industrial Inc		345
	337,726		Lextar Electronics Corp		141
	525,076		Linear Technology Corp		21,187
	150,048		Lite-On Semiconductor Corp		99
	51,997		Lumens Co Ltd		165
	58,492	*,e	MA-COM Technology Solutions		1,696
	3,602,000	*	Macronix International		461
	222,200		Malaysian Pacific Industries BHD		335
	2,881	*,e	Manz Automation AG.		209
	3,023,124		Marvell Technology Group Ltd		27,359
	179,656	*	Mattson Technology, Inc		419
	1,424,421		Maxim Integrated Products, Inc		47,576
	125,651	*,e	MaxLinear, Inc		1,563
	1,580,135		MediaTek, Inc		11,759
	17,500	e	Megachips Corp		168
	55,290	e	Melexis NV		2,561
	387,041	*	Mellanox Technologies Ltd		14,626
	481,741	e	Microchip Technology, Inc		20,758
	3,654,034	*	Micron Technology, Inc		54,737
	35,800	e	Micronics Japan Co Ltd		326

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	298,147	*	Microsemi Corp	$	9,785
	38,600		Mimasu Semiconductor Industry Co Ltd		353
	69,688		Mitsui High-Tec, Inc		375
	176,651		MKS Instruments, Inc		5,923
	102,691		Monolithic Power Systems, Inc		5,258
	292,000		Motech Industries, Inc		323
	247,784	*,e	NANOCO Group plc		235
	63,137	*	Nanometrics, Inc		767
	632,921		Neo Solar Power Corp		357
	114,121	*,e	NeoPhotonics Corp Ltd		777
	127,375	*,e	Nordic Semiconductor ASA		625
	1,544,426		Novatek Microelectronics Corp Ltd		4,849
	3,300	e	Nuflare Technology, Inc		121
	11,829		NVE Corp		574
	1,197,967		Nvidia Corp		29,530
	605,759	*	NXP Semiconductors NV		52,743
	201,549	*	Omnivision Technologies, Inc		5,293
	1,740,622	*	ON Semiconductor Corp		16,362
	21,000		On-Bright Electronics, Inc		96
	448,000		Opto Technology Corp		135
	555,000	*	Orient Semiconductor Electronics Ltd		201
	318,400		Orise Technology Co Ltd		224
	56,401		Parade Technologies Ltd		413
	131,520	*	PDF Solutions, Inc		1,315
	75,893		Pericom Semiconductor Corp		1,385
	139,860		Phison Electronics Corp		884
	192,989	*	Photronics, Inc		1,748
	116,613		Pixart Imaging, Inc		238
	992,444	*	PMC - Sierra, Inc		6,719
	138,348		Power Integrations, Inc		5,834
	4,276,857		Powertech Technology, Inc		7,748
	531,802	*	Qorvo, Inc		23,958
	3,492,511		Radiant Opto-Electronics Corp		10,846
	293,443	*	Rambus, Inc		3,463
	1,692,209		Realtek Semiconductor Corp		2,881
	2,003,021	*,e	REC Silicon ASA		351
	139,000		Richtek Technology Corp		812
	191,791		Rohm Co Ltd		8,529
	92,000	*	Rudolph Technologies, Inc		1,145
	214,860		Samsung Electronics Co Ltd		206,148
	32,424		Samsung Electronics Co Ltd (Preference)		25,170
	110,000	e	Sanken Electric Co Ltd		371
	28,267,000	*	Semiconductor Manufacturing International		2,566
	230,890	*	Semtech Corp		3,486
	37,452		Seoul Semiconductor Co Ltd		451
	212,000	e	Shanghai Fudan Microelectronics Group Co Ltd		129
	77,000		Shindengen Electric Manufacturing Co Ltd		248
	466,400	e	Shinko Electric Industries		2,630
	1,106,000	*,e	Shunfeng International Clean Energy Ltd		283
	29,000		ShunSin Technology Holding Ltd		99
	90,893	*	Sigma Designs, Inc		626
	1,210,000		Sigurd Microelectronics Corp		773

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	44,934		Silergy Corp	$	439
	108,444	*	Silicon Laboratories, Inc		4,505
	10,631		Silicon Works Co Ltd		296
	5,153,167		Siliconware Precision Industries Co		6,424
	10,903	*	SIMMTECH Co Ltd		96
	517,000		Sino-American Silicon Products, Inc		540
	98,000		Sitronix Technology Corp		285
	1,130,790		Skyworks Solutions, Inc		95,224
	11,066	*,e	SMA Solar Technology AG.		479
	273,616		Solartech Energy Corp		130
	146,000		Sonix Technology Co Ltd		168
	696,040	*,e	STMicroelectronics NV		4,755
	439,110	*	Sumco Corp		3,938
	637,919	*,e	SunEdison, Inc		4,580
	402,000		Sunplus Technology Co Ltd		160
	105,694	*,e	SunPower Corp		2,118
	1,468,600		SVI PCL		205
	205,000		Taiwan Semiconductor Co Ltd		140
	42,436,067		Taiwan Semiconductor Manufacturing Co Ltd		170,070
	981,288		Taiwan Surface Mounting Technology Co Ltd		900
	1,139,559		Teradyne, Inc		20,523
	249,963		Tessera Technologies, Inc		8,101
	2,389,660		Texas Instruments, Inc		118,336
	247,081	*	Tokyo Electron Ltd		11,666
	151,500		Tokyo Seimitsu Co Ltd		2,813
	552,854		Topco Scientific Co Ltd		795
	64,734	*	Tower Semiconductor Ltd		834
	497,608		Transcend Information, Inc		1,258
	1,746,000	*,m	Trony Solar Holdings Co Ltd.		2
	20,842		U-Blox AG.		4,198
	11,000		UKC Holdings Corp		211
	121,589	*	Ultra Clean Holdings		698
	75,038	*	Ultratech, Inc		1,202
	39,500		Ulvac, Inc		643
	599,300		Unisem M BHD		277
	24,201,772		United Microelectronics Corp		7,950
	16,828,000	*,e	United Photovoltaics Group Ltd		1,617
	243,029		Unity Opto Technology Co Ltd		107
	846,756		Vanguard International Semiconductor Corp		964
	105,973	*	Veeco Instruments, Inc		2,174
	212,425		Visual Photonics Epitaxy Co Ltd		247
	208,000		Walton Advanced Engineering, Inc		58
	493,512		Win Semiconductors Corp		548
	2,622,000	*	Winbond Electronics Corp		545
	157,995	*	Xcerra Corp		992
	628,340		Xilinx, Inc		26,642
	6,108,000	e	Xinyi Solar Holdings Ltd		2,096
	102,240		Youngtek Electronics Corp		139
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		2,596,302
SOFTWARE & SERVICES - 9.0%
	89,790	*	A10 Networks, Inc		538

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,350,684		Accenture plc	$	230,978
	296,421	*	ACI Worldwide, Inc		6,260
	2,133,969		Activision Blizzard, Inc		65,918
	5,391	*	Actoz Soft Co Ltd		181
	176,103	*	Actua Corp		2,071
	209,208	*	Acxiom Corp		4,134
	13,000		Addcn Technology Co Ltd		117
	2,420,341	*	Adobe Systems, Inc		199,000
	1,904,000	*,e	AGTech Holdings Ltd		414
	6,317		Ahnlab, Inc		228
	538,117	*	Akamai Technologies, Inc		37,162
	17,369	*	Alarm.com Holdings, Inc		203
	111,392	*	Alibaba Group Holding Ltd (ADR)		6,569
	323,850	*	Alliance Data Systems Corp		83,871
	279,787		Alpha Systems, Inc		4,306
	967,340	*	Alphabet, Inc (Class A)		617,521
	1,186,277	*	Alphabet, Inc (Class C)		721,755
	54,682		Alten		2,809
	283,981		Altium Ltd		923
	140,163		Altran Technologies S.A.		1,630
	644,510		Amadeus IT Holding S.A.		27,614
	49,426	*,e	Amber Road, Inc		209
	1,257,245		Amdocs Ltd		71,512
	69,894	*	American Software, Inc (Class A)		658
	175,439	*,e	Angie’s List, Inc		884
	103,838	*	Ansys, Inc		9,152
	2,113	*,e	Apigee Corp		22
	11,812	*	Appfolio, Inc		199
	450,116	*	Aspen Technology, Inc		17,064
	193,846		Asseco Poland S.A.		2,759
	9,400	e	Ateam, Inc		128
	237,927		Atos Origin S.A.		18,289
	929,301	*,g	Auto Trader Group plc		4,781
	621,670	*	Autodesk, Inc		27,441
	1,191,180		Automatic Data Processing, Inc		95,723
	65,078		Aveva Group plc		2,008
	118,652	*	AVG Technologies NV		2,581
	6,596		Axway Software S.A.		160
	12,703	*	Baidu, Inc (ADR)		1,746
	722,000	e,g	BAIOO Family Interactive Ltd		48
	171,106	*	Bankrate, Inc		1,771
	86,736	*,e	Barracuda Networks, Inc		1,351
	263,546	*,e	Bazaarvoice, Inc		1,189
	43,972		Bechtle AG.		3,967
	21,071	*,e	Benefitfocus, Inc		658
	44,689	*,e	Black Knight Financial Services, Inc		1,455
	121,356		Blackbaud, Inc		6,810
	139,119	*	Blackhawk Network Holdings, Inc		5,897
	107,084	*	Blucora, Inc		1,475
	261,267		Booz Allen Hamilton Holding Co		6,848
	111,460	*	Bottomline Technologies, Inc		2,788
	50,589	*,e	Box, Inc		636

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	213,000	e	Boyaa Interactive International Ltd	$	88
	87,178	*,e	Brightcove, Inc		429
	22,100		Broadleaf Co Ltd		225
	368,290		Broadridge Financial Solutions, Inc		20,385
	89,817	*	BroadSoft, Inc		2,691
	23,900		Brogent Technologies, Inc		202
	1,859,438		CA, Inc		50,763
	78,577	*	CACI International, Inc (Class A)		5,812
	380,381	*,e	Cadence Design Systems, Inc		7,866
	140,048	*	Callidus Software, Inc		2,379
	14,115	e	Cancom SE		491
	564,303		Cap Gemini S.A.		50,394
	45,086		Capcom Co Ltd		889
	49,300	*	Carbonite, Inc		549
	117,513	*	Cardtronics, Inc		3,843
	65,536	*,e	Care.com, Inc		337
	212,182		carsales.com Ltd		1,462
	29,724		Cass Information Systems, Inc		1,460
	143,539	*	CD Projekt Red S.A.		1,018
	309,996		CDK Global, Inc		14,812
	15,916		Cegid Group		672
	387,015	*	CGI Group, Inc		14,022
	51,400		Chanjet Information Technology Co Ltd		89
	60,937	*,e	ChannelAdvisor Corp		606
	639,159	*,e	Check Point Software Technologies		50,704
	620,000	*	China City Railway Transportation Technology Holdings Co Ltd		128
	8,000,000	*,e	China Public Procurement Ltd		129
	2,226,000	*,e	Chinasoft International Ltd		859
	305,719	*	Ciber, Inc		972
	1,746,414		Cielo S.A.		16,149
	243,111	*,e	Cimpress NV		18,503
	1,107,389	*	Citrix Systems, Inc		76,720
	18,012	m	CMC Ltd		562
	2,630	*,e	Code Rebel Corp		19
	1,525,346	*	Cognizant Technology Solutions Corp (Class A)		95,502
	57,785	e	COLOPL, Inc		929
	8,848	*	Com2uSCorp		870
	128,072	*	Commvault Systems, Inc		4,349
	763,559		Computer Sciences Corp		46,867
	18,000		Computer Task Group, Inc		111
	500,925		Computershare Ltd		3,741
	227,351	*	comScore, Inc		10,492
	157,842	*	Constant Contact, Inc		3,826
	47,401		Constellation Software, Inc		19,868
	252,212		Convergys Corp		5,829
	121,500	*,e	COOKPAD, Inc		2,565
	158,783	*	Cornerstone OnDemand, Inc		5,240
	65,257	*	CoStar Group, Inc		11,293
	157,040	*,e	Coupons.com, Inc		1,413
	6,200	e	CROOZ, Inc		212
	85,429		CSG Systems International, Inc		2,631

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	58,972	*	Cvent, Inc	$	1,985
	82,567		Cyberlink Corp		171
	102,083		Cyient Ltd		869
	34,290		Daou Technology, Inc		851
	804,231		Dassault Systemes S.A.		59,437
	54,305	*	Datalink Corp		324
	439,300		Datasonic Group BHD		144
	30,877		Daum Communications		3,290
	85,880	*,e	Demandware, Inc		4,438
	234,800	e	Dena Co Ltd		4,358
	83,796	*	Descartes Systems Group, Inc		1,484
	4,179	*	Devsisters Co Ltd		103
	175,365		DH Corp		5,147
	146,289	*	DHI Group, Inc		1,069
	20,533	e	Digimarc Corp		627
	34,400	e	Digital Garage, Inc		476
	128,189	*,e	Digital Turbine, Inc		232
	68,485	*,e	Diligent Board Member Services		227
	242,600		Dip Corp		4,000
	136,452		DST Systems, Inc		14,347
	84,200		DTS Corp		1,989
	17,143		DuzonBIzon Co Ltd		303
	890,616		EarthLink Holdings Corp		6,929
	2,882,544	*	eBay, Inc		70,449
	69,691	e	Ebix, Inc		1,739
	21,817		eClerx Services Ltd		529
	59,897	e	Econocom Group		520
	1,274,131	*	Electronic Arts, Inc		86,322
	61,688	e	Elektrobit Oyj		346
	74,468	*	Ellie Mae, Inc		4,957
	214,795		Ementor ASA		1,976
	149,708	*,e	Endurance International Group Holdings, Inc		2,000
	166,748	*,e	EnerNOC, Inc		1,317
	12,081		Engineering Ingegneria Informatica S.p.A.		694
	91,871	*,e	Envestnet, Inc		2,753
	192,226		EOH Holdings Ltd		2,064
	255,175	*	EPAM Systems, Inc		19,016
	81,412		EPIQ Systems, Inc		1,052
	51,061	*	ePlus, Inc		4,037
	148,443	*	Euronet Worldwide, Inc		10,998
	177,236	*	Everi Holdings, Inc		909
	314,451		EVERTEC, Inc		5,682
	58,112	*	Everyday Health, Inc		531
	120,248	*	ExlService Holdings, Inc		4,441
	37,500	e	F@N Communications, Inc		247
	8,257,932	*	Facebook, Inc		742,388
	155,678		Factset Research Systems, Inc		24,879
	105,507		Fair Isaac Corp		8,915
	321,000	g	Feiyu Technology International Co Ltd		77
	581,363		Fidelity National Information Services, Inc		38,998
	1,325,000	*	Finsoft Corp		13
	504,259	*,e	FireEye, Inc		16,046

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	396,307	*	First American Corp	$	14,755
	766,719	*	Fiserv, Inc		66,406
	67,080	*,e	Five9, Inc		248
	391,721	*	FleetCor Technologies, Inc		53,909
	96,701	*,e	FleetMatics Group plc		4,747
	27,979		Forrester Research, Inc		880
	1,640,514	*	Fortinet, Inc		69,689
	90,436	e	F-Secure Oyj		250
	62,400		FUJI SOFT, Inc		1,093
	6,951,592		Fujitsu Ltd		30,238
	16,600		Future Architect, Inc		94
	13,489	*	GameHi Co Ltd		133
	84,598	*,e	GameLoft		311
	4,770	*	Gamevil, Inc		278
	172,607	*	Gartner, Inc		14,487
	551,671	*	Genpact Ltd		13,025
	14,923		GFT Technologies AG.		365
	261,859	*	Gigamon, Inc		5,240
	314,296		Global Payments, Inc		36,059
	39,432	*,e	Globant S.A.		1,206
	1,754,460	*,e	Globo plc		1,062
	312,840	*,e	Glu Mobile, Inc		1,367
	113,400		GMO internet, Inc		1,470
	147,600	e	GMO Payment Gateway, Inc		5,710
	43,798	*,e	GoDaddy, Inc		1,104
	143,668	*,e	Gogo, Inc		2,195
	3,926	*	Golfzon co Ltd		289
	25,200	e	Gourmet Navigator, Inc		416
	81,250	*,e	Gravity Co Ltd (ADR)		297
	152,800	*,e	Gree, Inc		684
	574,847	*,e	GrubHub, Inc		13,992
	63,225	*	GTT Communications, Inc		1,471
	58,058	*,e	Guidance Software, Inc		350
	278,827	*	Guidewire Software, Inc		14,661
	1,378,914	*,e	GungHo Online Entertainment Inc		4,096
	15,909		Haansoft, Inc		322
	95,827		Hackett Group, Inc		1,318
	270,000	*,e	HC International, Inc		149
	836,778		HCL Technologies Ltd		12,549
	95,477		Heartland Payment Systems, Inc		6,016
	112,433		Hexaware Technologies Ltd		426
	1,755,000	*	Hi Sun Technology China Ltd		297
	49,200	*,e	Higher One Holdings, Inc		97
	217,741	*	HomeAway, Inc		5,779
	152,623	*,e	Hortonworks, Inc		3,341
	68,000	*,e	Hotto Link, Inc		366
	48,090	*,e	HubSpot, Inc		2,230
	500,616		IAC/InterActiveCorp		32,675
	2,559,000	e	IGG, Inc		985
	82,971	*	Imperva, Inc		5,433
	113,334	e	Indra Sistemas S.A.		1,178
	37,756		Industrial & Financial Systems		1,334

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	535,200	e	Ines Corp	$	4,854
	40,751		Info Edge India Ltd		497
	304,664	*	Infoblox, Inc		4,869
	1,221,300	e	Infomart Corp		13,845
	27,200		Information Services International-Dentsu Ltd		375
	3,428,748		Infosys Technologies Ltd		60,827
	5,918	e	Init Innovation In Traffic Sys		135
	1,155,292		Innovation Group plc		682
	45,509	*,e	Interactive Intelligence, Inc		1,352
	170,132	*	Internap Network Services Corp		1,043
	2,700,676		International Business Machines Corp		391,517
	52,000		International Games System Co Ltd		127
	30,400		Internet Initiative Japan, Inc		545
	1,559,141		Intuit, Inc		138,374
	73,371	*,e	iProperty Group Ltd		152
	128,314	e	Iress Market Technology Ltd		866
	372,401		iSentia Group Ltd		1,024
	173,260		IT Holdings Corp		3,930
	92,500		Itochu Techno-Science Corp		1,973
	124,704		j2 Global, Inc		8,835
	112,554	e	Jack Henry & Associates, Inc		7,835
	6,277	*	JCEntertainment Corp		128
	121,093	*,e	Jive Software, Inc		566
	3,773	*	Joymax Co Ltd		61
	26,474		Just Dial Ltd		398
	1,504,006	*	Just Eat plc		9,357
	32,600	*,e	Justsystems Corp		241
	41,120	e	Kakaku.com, Inc		668
	10,635	*	KCP Co Ltd		320
	13,674		Kginicis Co Ltd		231
	10,204		KGMobilians Co Ltd		142
	416,486	e	King Digital Entertainment plc		5,639
	1,828,000	e	Kingdee International Software Group Co Ltd		690
	987,865	e	Kingsoft Corp Ltd		1,945
	133,000	*,e	KLab, Inc		1,286
	94,001	*	Knot, Inc		1,328
	597,268	e	Konami Corp		12,908
	368,944		KPIT Cummins Infosystems Ltd		603
	10,907	*	KT Hitel Co Ltd		90
	119,458		Leidos Holdings, Inc		4,935
	274,779	*,e	Limelight Networks, Inc		525
	252,581	*	LinkedIn Corp		48,023
	136,100		Linx S.A.		1,511
	167,293	*	Lionbridge Technologies		826
	117,586	*,e	Liquidity Services, Inc		869
	149,514	*	Liveperson, Inc		1,130
	96,724	*	LogMeIn, Inc		6,593
	222,660	*	Luxoft Holding, Inc		14,092
	470,589	*	Manhattan Associates, Inc		29,318
	128,927		Mantech International Corp (Class A)		3,313
	169,343		Marchex, Inc (Class B)		682
	111,683	*,e	Marin Software, Inc		350

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	89,157	*,e	Marketo, Inc	$	2,534
	28,500	e	Marvelous AQL, Inc		218
	3,911,139		Mastercard, Inc (Class A)		352,472
	27,722		Matrix IT Ltd		163
	331,466		MAXIMUS, Inc		19,742
	255,469		Mentor Graphics Corp		6,292
	176,489		Micro Focus International plc		3,216
	25,003,602		Microsoft Corp		1,106,659
	246,656	*	MicroStrategy, Inc (Class A)		48,461
	321,611	*,e	Millennial Media, Inc		563
	15,675	*	MINDBODY, Inc		245
	88,182		MindTree Ltd		2,040
	14,800		Mitsubishi Research Institute, Inc		364
	229,530	e	Mixi Inc		7,855
	110,874	*,e	MobileIron, Inc		344
	1,131,163	*,e	Mobileye NV		51,445
	55,485	*	Model N, Inc		555
	134,845	*,e	ModusLink Global Solutions, Inc		386
	84,773	*	MoneyGram International, Inc		680
	1,149,108		Moneysupermarket.com Group plc		5,883
	1,325,640		Mono Technology PCL		87
	129,079		Monotype Imaging Holdings, Inc		2,816
	378,097	*,e	Monster Worldwide, Inc		2,427
	121,604		Mphasis Ltd		760
	528,200		My EG Services BHD		339
	80,226	*,e	Myriad Group AG.		262
	664,000	*,e	National Agricultural Holdings Ltd		269
	43,941		Naver Corp		19,046
	16,301		NCsoft		2,606
	22,500	e	NEC Networks & System Integration Corp		402
	38,391	e	Nemetschek AG.		1,443
	11,733	*	Neowiz Games Corp		185
	521,700		NET One Systems Co Ltd		2,951
	169,000	e	NetDragon Websoft, Inc		426
	63,400		Netease.com (ADR)		7,616
	27,065		NetEnt AB		1,507
	47,513	*,e	NetSuite, Inc		3,986
	157,872	*,e	NeuStar, Inc (Class A)		4,296
	24,926	*,e	New Relic, Inc		950
	449,064		Nexon Co Ltd		6,004
	174,040	*,e	NEXTDC Ltd		289
	15,328	*	NHN Entertainment Corp		837
	267,766		NIC, Inc		4,742
	88,975		Nice Systems Ltd		4,983
	6,600		NIFTY Corp		66
	90,600	e	Nihon Unisys Ltd		938
	56,041		NIIT Technologies Ltd		405
	306,319		Nintendo Co Ltd		51,631
	34,300		Nippon System Development Co Ltd		421
	90,200		Nomura Research Institute Ltd		3,463
	25,800		NS Solutions Corp		1,090
	163,851		NTT Data Corp		8,261

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	789,800	*	Nuance Communications, Inc	$	12,929
	9,900		OBIC Business Consultants Ltd		470
	71,100		Obic Co Ltd		3,252
	222,092		Open Text Corp		9,945
	120,069	e	Opera Software ASA		648
	70,023	*,e	OPOWER, Inc		624
	458,475	*,e	Optimal Payments plc		2,248
	13,206,573		Oracle Corp		477,021
	29,349		Oracle Corp Japan		1,239
	10,003	*	OSANGJAIEL Co Ltd		100
	25,399		Otsuka Corp		1,238
	255,000		Ourgame International Holdings Ltd		131
	410,700	e	Pacific Online		133
	403,272	*	Pandora Media, Inc		8,606
	31,043	*,e	Park City Group, Inc		328
	696,747		Paychex, Inc		33,186
	90,404	*,e	Paycom Software, Inc		3,246
	43,998	*,e	Paylocity Holding Corp		1,319
	6,148,733	*	PayPal Holdings, Inc		190,857
	64,422		PC Home Online		743
	263,000	e	PCA Corp		3,107
	166,317		Pegasystems, Inc		4,093
	90,389	*	Perficient, Inc		1,395
	59,245		Persistent Systems Ltd		602
	33,117	*,e	PFSweb, Inc		471
	946,783		Playtech Ltd		11,889
	189,405		Polaris Software Lab Ltd		574
	55,354		POSDATA Co Ltd		259
	41,350	*	PRGX Global, Inc		156
	208,398	*	Progress Software Corp		5,383
	429,143	*,e	Proofpoint, Inc		25,886
	61,723	*	PROS Holdings, Inc		1,367
	394,079	*	PTC, Inc		12,508
	104,742	*	Q2 Holdings, Inc		2,589
	25,018		QAD, Inc (Class A)		640
	523,479	*	QLIK Technologies, Inc		19,081
	131,339	*	Qualys, Inc		3,738
	408,998		Quindell plc		628
	123,541	*,e	QuinStreet, Inc		686
	408,001	*	Rackspace Hosting, Inc		10,069
	19,487	*	Rapid7, Inc		443
	71,992	*,e	RealNetworks, Inc		294
	134,147	*,e	RealPage, Inc		2,230
	741,691	*	Red Hat, Inc		53,313
	98,177	*,e	Redknee Solutions, Inc		283
	32,847		Reis, Inc		744
	10,690		Reply S.p.A.		1,172
	114,807	*,e	RetailMeNot, Inc		946
	27,233		RIB Software AG.		429
	139,603	*,e	RingCentral, Inc		2,534
	68,247	*,e	Rocket Fuel, Inc		319
	233,299		Rolta India Ltd		364

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	226,082	*,e	Rovi Corp	$	2,372
	240,624	*	Rubicon Project, Inc		3,496
	758,646		Sabre Corp		20,620
	102,817	e	SafeCharge International Group Ltd		428
	2,300,734		Sage Group plc		17,406
	3,994,478	*	Salesforce.com, Inc		277,337
	789,900		Samart Corp PCL		463
	32,881		Samsung SDS Co Ltd		8,016
	889,233		SAP AG.		57,608
	77,290		Sapiens International Corp NV		890
	6,819		SBSi Co Ltd		88
	230,926		Science Applications International Corp		9,286
	71,294	*	Sciquest, Inc		713
	87,006	*,e	Seachange International, Inc		548
	1,279,516	*	ServiceNow, Inc		88,862
	153,347	*,e	ServiceSource International LLC		613
	128,130		Shanghai Baosight Software Co Ltd		423
	50,886	*,e	Shutterstock, Inc		1,539
	98,851	*,e	Silver Spring Networks, Inc		1,273
	2,613,100	e	Silverlake Axis Ltd		1,056
	46,247	e	SimCorp AS		2,329
	382,000		Sinosoft Technology Group Ltd		192
	14,954	*	SK Communications Co Ltd		109
	69,100		SMS Co Ltd		1,169
	55,747		Software AG.		1,629
	87,540		Soft-World International Corp		138
	162,661	*	SolarWinds, Inc		6,383
	91,952		Solera Holdings, Inc		4,965
	423,659		Sonda S.A.		634
	19,343		Sopra Group S.A.		2,147
	339,027	*	Splunk, Inc		18,765
	42,378	*	SPS Commerce, Inc		2,877
	78,327		Square Enix Co Ltd		1,943
	234,540		SS&C Technologies Holdings, Inc		16,427
	93,926	*	Stamps.com, Inc		6,951
	47,942	e	Sumisho Computer Systems Corp		1,800
	11,158		SundayToz Corp		141
	689,000		SUNeVision Holdings Ltd		213
	160,717	*	Sykes Enterprises, Inc		4,098
	787,594		Symantec Corp		15,334
	101,404	*	Synchronoss Technologies, Inc		3,326
	485,929	*	Synopsys, Inc		22,440
	140,582	*	Syntel, Inc		6,370
	160,000		Systex Corp		260
	133,005	*	TA Indigo Holding Corp		1,103
	182,326	*	Tableau Software, Inc		14,546
	693,648	*,e	Take-Two Interactive Software, Inc		19,929
	103,691	*	Tangoe, Inc		747
	814,251		Tata Consultancy Services Ltd		32,187
	8,539		Tata Elxsi Ltd		246
	990,341		Tech Mahindra Ltd		8,425
	228,760		Technology One Ltd		620

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	56,538	*	TechTarget, Inc	$	482
	126,720	e	Tecmo Koei Holdings Co Ltd		1,620
	218,198		Telecity Group plc		3,596
	150,152	*	TeleCommunication Systems, Inc (Class A)		517
	69,097	*,e	TeleNav, Inc		540
	52,021		TeleTech Holdings, Inc		1,394
	63,599		Temenos Group AG.		2,611
	11,206,552		Tencent Holdings Ltd		188,904
	385,405	*	Teradata Corp		11,161
	50,759	*,e	Textura Corp		1,312
	341,000	g	Tian GE Interactive Holdings Ltd		149
	131,323		Tietoenator Oyj		3,317
	254,435	*	TiVo, Inc		2,203
	710,960		Total System Services, Inc		32,299
	123,219		Totvus S.A.		937
	88,300		Trans Cosmos, Inc/Japan		2,153
	20,976	*,e	Travelzoo, Inc		173
	100,203	*	Trend Micro, Inc		3,540
	126,236	*,e	TrueCar, Inc		658
	40,380	*,e	TubeMogul, Inc		425
	115,879	*,e	Tungsten Corp plc		104
	1,141,906	*	Twitter, Inc		30,763
	148,283	*	Tyler Technologies, Inc		22,140
	101,130	*	Ubisoft Entertainment		2,053
	61,169	*	Ultimate Software Group, Inc		10,950
	146,075	*,e	Unisys Corp		1,738
	83,968		United Internet AG.		4,257
	33,758	*	United Online, Inc		338
	12,400	e	UNITED, Inc		135
	2,740,000	*,e	V1 Group Ltd		221
	122,936		Vakrangee Ltd		240
	499,220	*	Vantiv, Inc		22,425
	23,812	*,e	Varonis Systems, Inc		371
	76,323	*,e	Vasco Data Security International		1,301
	140,000	*,e	V-Cube, Inc		2,966
	328,301	*	VeriFone Systems, Inc		9,104
	190,291	*	Verint Systems, Inc		8,211
	361,898	*,e	VeriSign, Inc		25,536
	115,801	*,e	VirnetX Holding Corp		412
	77,394	*	Virtusa Corp		3,971
	8,696,334		Visa, Inc (Class A)		605,787
	517,349	*	VMware, Inc (Class A)		40,762
	97,034	*	WebMD Health Corp (Class A)		3,866
	244,904	*	Website Pros, Inc		5,163
	12,029	*	Webzen, Inc		326
	7,808	*	WeMade Entertainment Co Ltd		312
	1,510,011	e	Western Union Co		27,724
	137,759	*	WEX, Inc		11,963
	1,007,820		Wipro Ltd		9,209
	263,808	e	Wirecard AG.		12,632
	141,562	*,e	Wix.com Ltd		2,466
	505,896	*	Workday, Inc		34,836

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	64,529	*,e	Workiva, Inc	$	980
	282,347	e	Xchanging plc		456
	71,826	*,e	Xero Ltd		694
	1,890,294		Xerox Corp		18,393
	6,851		XING AG.		1,470
	21,725		X-Legend Entertainment Co Ltd		58
	82,645	*	Xoom Corp		2,056
	79,233		XPEC Entertainment, Inc		205
	59,142	*	Xura, Inc		1,324
	3,750,000		Xurpas, Inc		1,130
	1,786,348		Yahoo! Japan Corp		6,801
	3,827,051	*	Yahoo!, Inc		110,640
	30,800	*	Yandex NV		330
	123,881	*,e	Yelp, Inc		2,683
	42,943	*	Yodlee, Inc		693
	138,030	*,e	Zendesk, Inc		2,721
	9,288		Zensar Technologies Ltd		115
	85,617	*,e	Zillow Group, Inc		2,460
	170,832	*,e	Zillow Group, Inc (Class C)		4,612
	158,821	*	Zix Corp		669
	539,304	e,g	Zoopla Property Group plc		1,704
	1,690,925	*	Zynga, Inc		3,855
			TOTAL SOFTWARE & SERVICES		9,940,448
TECHNOLOGY HARDWARE & EQUIPMENT - 5.0%
	215,911	*,e	3D Systems Corp		2,494
	913,721	e	AAC Technologies Holdings, Inc		5,715
	1,146,292		Accton Technology Corp		540
	2,998,478	*	Acer, Inc		1,177
	101,815		Adlink Technology, Inc		283
	167,111		Adtran, Inc		2,440
	36,000		Advanced Ceramic X Corp		228
	858,059		Advantech Co Ltd		5,892
	63,963	*,e	Aerohive Networks, Inc		383
	43,669	*	Agilysys, Inc		486
	36,900		Ai Holdings Corp		913
	300,000	*	AKM Industrial Co Ltd		38
	7,691,685	*	Alcatel S.A.		28,380
	1,273,449		Alcatel-Lucent (ADR)		4,648
	52,578	e	Alliance Fiber Optic Products, Inc		899
	1,272,600	m	Alpha Networks, Inc		526
	246,900	e	Alps Electric Co Ltd		6,972
	199,900		Amano Corp		2,308
	697,204		Amphenol Corp (Class A)		35,530
	377,828		Anixter International, Inc		21,831
	137,900		Anritsu Corp		839
	2,796,000	*,e,m	Anxin-China Holdings Ltd		69
	19,768,833	n	Apple, Inc		2,180,502
	41,485	*,e	Applied Optoelectronics, Inc		779
	215,235	*,e	Arista Networks, Inc		13,170
	273,091	*	ARRIS Group, Inc		7,092
	146,213	*	Arrow Electronics, Inc		8,083

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	94,022		Ascom Holding AG.	$	1,732
	203,000	*	Asia Optical Co, Inc		201
	2,122,464		Asia Vital Components Co Ltd		1,643
	85,000		ASROCK, Inc		97
	767,262		Asustek Computer, Inc		6,597
	89,000		Aten International Co Ltd		177
	25,031,690		AU Optronics Corp		7,411
	284,000		Aurora Corp		431
	25,948		Austria Technologie & Systemtechnik AG.		383
	79,943	*,e	Avid Technology, Inc		636
	42,990	*,e	Avigilon Corp		367
	209,379		Avnet, Inc		8,936
	174,586		AVX Corp		2,285
	37,026	e	Badger Meter, Inc		2,150
	25,550		Barco NV		1,648
	46,003		Bel Fuse, Inc (Class B)		894
	109,037		Belden CDT, Inc		5,091
	272,181	*	Benchmark Electronics, Inc		5,923
	1,784,000		Benq Corp		550
	1,056,000		BenQ Materials Corp		685
	77,327		Black Box Corp		1,140
	590,177	*,e	Blackberry Ltd (New)		3,622
	1,444,000		Boardtek Electronics Corp		1,455
	1,497,626		Brocade Communications Systems, Inc		15,545
	553,477		Brother Industries Ltd		6,672
	2,313,500		BYD Electronic International Co Ltd		1,445
	116,060	*	CalAmp Corp		1,867
	6,580,015		CalComp Electronics Thailand PCL		573
	112,318	*	Calix Networks, Inc		875
	18,800	*	Canon Electronics, Inc		303
	2,246,371		Canon, Inc		64,982
	274,000		Career Technology Co Ltd		196
	146,000		Casetek Holdings Ltd		624
	1,735,853		Catcher Technology Co Ltd		18,557
	254,000		Catic Shenzhen Holdings Ltd		135
	410,485		CDW Corp		16,772
	324,288	*	Celestica, Inc		4,175
	181,938		Checkpoint Systems, Inc		1,319
	1,521,602		Cheng Uei Precision Industry Co Ltd		2,133
	687,463		Chicony Electronics Co Ltd		1,589
	1,589,663		Chimei Materials Technology Corp		974
	1,942,000	e	China Aerospace International Holdings Ltd		257
	1,776,000	e	China All Access Holdings Ltd		565
	1,389,600	e	China Fiber Optic Network System Group Ltd		190
	4,104,000	*,e	China Innovationpay Group Ltd		267
	3,002,000	*,g	China Railway Signal & Communication Corp Ltd		2,417
	387,000		Chin-Poon Industrial Co		529
	322,840		Chroma ATE, Inc		553
	3,085,272	*,e	Ciena Corp		63,927
	23,146,357		Cisco Systems, Inc		607,592
	914,645		Citizen Watch Co Ltd		6,321
	30,503	*,e	Clearfield, Inc		410

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	460,723		Clevo Co	$	506
	1,937,394	*	CMC Magnetics Corp		233
	180,021		Cognex Corp		6,187
	94,002	*	Coherent, Inc		5,142
	1,021,105	e	Comba Telecom Systems Holdings Ltd		219
	1,817	e	Comet Holding AG.		1,257
	327,070	*	CommScope Holding Co, Inc		9,822
	6,651,021		Compal Electronics, Inc		3,778
	5,773,000		Compeq Manufacturing Co		4,162
	40,609		Comtech Telecommunications Corp		837
	54,600	*,e	Control4 Corp		446
	2,520,000		Coolpad Group Ltd		475
	2,164,500		Coretronic Corp		1,959
	2,141,658		Corning, Inc		36,665
	605,000		Coxon Precise Industrial Co Ltd		1,037
	103,989	*	Cray, Inc		2,060
	20,124	*	CrucialTec Co Ltd		271
	86,708		CTS Corp		1,605
	296,000		CyberTAN Technology, Inc		134
	130,012		Daeduck Electronics Co		853
	106,127		Daeduck GDS Co Ltd		872
	664,000		Daiwabo Co Ltd		1,161
	101,726		Daktronics, Inc		882
	114,945		Daou Data Corp		2,105
	18,358		Datalogic S.p.A.		291
	196,273		DataTec Ltd		878
	1,133,600		Delta Electronics Thai PCL		2,752
	1,984,951		Delta Electronics, Inc		9,363
	167,000		Denki Kogyo Co Ltd		755
	166,303		Diebold, Inc		4,951
	81,293	*	Digi International, Inc		958
	2,156,000	e	Digital China Holdings Ltd		2,003
	16,727		Digital Multimedia Technologies S.p.A.		1,029
	819,379		D-Link Corp		245
	87,990		Dolby Laboratories, Inc (Class A)		2,868
	160,616	*	Dot Hill Systems Corp		1,563
	59,329	*	DTS, Inc		1,584
	664,000		Dynapack International Technology Corp		1,015
	269,700		Eastern Communications Co Ltd		173
	49,663	*,e	Eastman Kodak Co		776
	108,120	*	EchoStar Corp (Class A)		4,652
	16,071	e	Eizo Nanao Corp		374
	48,800		Elecom Co Ltd		560
	88,712		Electro Rent Corp		921
	28,092	e	Electro Scientific Industries, Inc		130
	969,182	e	Electrocomponents plc		2,633
	122,463	*	Electronics for Imaging, Inc		5,300
	23,000		Elematec Corp		520
	2,036,654		Elite Material Co Ltd		4,492
	1,653,324		Elitegroup Computer Systems Co Ltd		982
	5,676,861		EMC Corp		137,153
	50,345	*	EMCORE Corp		342

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	35,000		Ennoconn Corp	$	339
	11,600	e	Enplas Corp		401
	5,933,039		Ericsson (LM) (B Shares)		58,201
	108,121	e	Esprinet S.p.A.		896
	12,155	e	EVS Broadcast Equipment S.A.		314
	719,936	*	Extreme Networks, Inc		2,419
	431,697	*	F5 Networks, Inc		49,991
	153,124	*	Fabrinet		2,807
	46,236	*	FARO Technologies, Inc		1,618
	144,234		FEI Co		10,535
	9,287,000		FIH Mobile Ltd		4,272
	59,193	*,e	Fingerprint Cards AB		2,184
	270,568	*,e	Finisar Corp		3,011
	178,317		Firich Enterprises Co Ltd		492
	567,985	*,e	Fitbit, Inc		21,407
	872,368		FLEXium Interconnect, Inc		2,390
	19,456	*	Flextronics International Ltd		205
	328,068		Flir Systems, Inc		9,183
	94,310		Flytech Technology Co Ltd		270
	5,852,317		Foxconn Technology Co Ltd		16,821
	1,385,181		Fujifilm Holdings Corp		51,781
	3,932,000	*,e	GCL New Energy Holdings Ltd		271
	75,631	e	Gemalto NV		4,917
	283,913		Gemtek Technology Corp		134
	58,909	*	Genius Electronic Optical Co Ltd		100
	44,677		GeoVision, Inc		126
	2,988,000		Getac Technology Corp		1,898
	1,950,000		Gigabyte Technology Co Ltd		1,854
	332,000	*	Gold Circuit Electronics Ltd		100
	268,000	e	Goldpac Group Ltd		136
	5,264	*	Green Cross Cell Corp		218
	664,680	*,e	GSH Corp Ltd		128
	133,189	*	GSI Group, Inc		1,696
	957,047		Halma plc		10,464
	34,300		Hamamatsu Photonics KK		776
	2,533,105		HannStar Display Corp		319
	745,000	*,m	HannsTouch Solution, Inc		75
	234,140	*	Harmonic, Inc		1,358
	464,939		Harris Corp		34,010
	9,439,568		Hewlett-Packard Co		241,747
	161,721		Hexagon AB (B Shares)		4,941
	860,725		High Tech Computer Corp		1,666
	10,600		Hirose Electric Co Ltd		1,154
	78,746		Hitachi High-Technologies Corp		1,705
	122,000		Hitachi Kokusai Electric, Inc		1,289
	11,165,098	*	Hitachi Ltd		56,339
	417,800		Hitachi Maxell Ltd		6,046
	587,100		Holystone Enterprise Co Ltd		549
	27,374,808		Hon Hai Precision Industry Co, Ltd		71,515
	89,795		Horiba Ltd		3,274
	246,500	e	Hosiden Corp		1,305
	89,448		Humax Co Ltd		1,476
	331,400	*	Ibiden Co Ltd		4,338

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	290,000		Ichia Technologies, Inc	$	160
	7,800		Icom, Inc		162
	200,476		ICP Electronics, Inc		242
	202,323	*	II-VI, Inc		3,253
	13,810	*	Iljin Materials Co Ltd		103
	88,697	*,e	Imation Corp		189
	71,319	*	Immersion Corp		801
	375,712		Inari Amertron BHD		291
	4,273		Inficon Holding AG.		1,193
	353,221	*,e	Infinera Corp		6,909
	60,321		Ingenico		7,289
	364,217		Ingram Micro, Inc (Class A)		9,921
	7,874,288		InnoLux Display Corp		2,466
	130,367	*	Insight Enterprises, Inc		3,370
	92,298		InterDigital, Inc		4,670
	17,600	*	Intevac, Inc		81
	199,210	*,e	InvenSense, Inc		1,851
	9,061,349		Inventec Co Ltd		4,318
	66,145	*,e	IPG Photonics Corp		5,025
	8,400	e	Iriso Electronics Co Ltd		366
	58,100		ITC Networks Corp		560
	715,357		ITEQ Corp		461
	102,015	*	Itron, Inc		3,255
	15,513		Ituran Location and Control Ltd		319
	290,465	*	Ixia		4,209
	1,055,955		Jabil Circuit, Inc		23,622
	136,493		Japan Aviation Electronics Industry Ltd		2,050
	14,400	e	Japan Cash Machine Co Ltd		154
	16,600		Japan Digital Laboratory Co Ltd		229
	823,000	*,e	Japan Display, Inc		2,371
	172,535		Japan Radio Co Ltd		560
	1,542,300		JCY International BHD		236
	42,816		Jenoptik AG.		609
	54,700		Jentech Precision Industrial Co Ltd		74
	2,979,125	e	Ju Teng International Holdings Ltd		1,474
	4,373,544		Juniper Networks, Inc		112,444
	45,400		Kaga Electronics Co Ltd		578
	31,000		Kanematsu Electronics Ltd		452
	12,763		Kapsch TrafficCom AG.		419
	241,900		KCE Electronics PCL		374
	20,303		Keyence Corp		9,067
	687,850	*	Keysight Technologies, Inc		21,213
	12,940		KH Vatec Co Ltd		168
	72,459	*	Kimball Electronics, Inc		864
	842,500		Kingboard Chemical Holdings Ltd		1,026
	1,007,500		Kingboard Laminates Holdings Ltd		410
	412,070	*,e	Knowles Corp		7,594
	89,800	e	Koa Corp		781
	13,060		KONA I Co Ltd		486
	486,509		Konica Minolta Holdings, Inc		5,125
	40,209		Kudelski S.A.		551
	46,769	*	KVH Industries, Inc		468

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	140,110		Kyocera Corp	$	6,417
	305,120		Laird Group plc		1,742
	271,492		Largan Precision Co Ltd		21,189
	7,369,323	e	Lenovo Group Ltd		6,230
	92,947		Lexmark International, Inc (Class A)		2,694
	13,418		LG Innotek Co Ltd		1,001
	245,633		LG.Philips LCD Co Ltd		4,689
	2,227,361		Lite-On Technology Corp		2,052
	126,407		Littelfuse, Inc		11,522
	516,074	e	Logitech International S.A.		6,732
	58,000		Lotes Co Ltd		187
	808,000		Loxley PCL		58
	60,575		Lumax International Corp Ltd		80
	704,680	*	Lumentum Holdings, Inc		11,944
	31,800	*,e	Macnica Fuji Electronics Holdings, Inc		378
	145,000		Marubun Corp		1,040
	7,400	e	Maruwa Co Ltd		151
	46,900	e	Melco Holdings, Inc		768
	126,755	*	Mercury Computer Systems, Inc		2,017
	144,076		Merry Electronics Co Ltd		175
	7,324	e	Mesa Laboratories, Inc		816
	180,631	e	Methode Electronics, Inc		5,762
	254,372		Micronic Laser Systems AB		1,399
	3,043,000		Micro-Star International Co Ltd		2,588
	161,000		MIN AIK Technology Co Ltd		268
	519,500		Mitac Holdings Corp		324
	503,500	e	Mitsumi Electric Co Ltd		2,789
	288,635	e	Motorola, Inc		19,737
	38,620		MTS Systems Corp		2,321
	74,841	*	Multi-Fineline Electronix, Inc		1,250
	579,736		Murata Manufacturing Co Ltd		74,887
	225,000		Nan Ya Printed Circuit Board Corp		221
	196,000		Nanjing Panda Electronics		136
	234,883		National Instruments Corp		6,527
	1,021,815	*	NCR Corp		23,246
	1,629,382		NEC Corp		5,017
	35,675		Neopost S.A.		930
	953,891		NetApp, Inc		28,235
	118,904	*	Netgear, Inc		3,468
	315,546	*,e	Netscout Systems, Inc		11,161
	129,630	*	Newport Corp		1,782
	183,326	e	Nichicon Corp		1,318
	130,144	*,e	Nimble Storage, Inc		3,139
	13,300	e	Nippon Ceramic Co Ltd		197
	920,000	*	Nippon Chemi-Con Corp		2,018
	341,141		Nippon Electric Glass Co Ltd		1,648
	121,500		Nippon Signal Co Ltd		1,174
	62,300		Nohmi Bosai Ltd		677
	496,974	e	Nokia Corp		3,369
	4,500,085		Nokia Oyj		30,771
	96,694	*	Novatel Wireless, Inc		214
	257,813	*,e	Oclaro, Inc		593

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,182,000		Oki Electric Industry Co Ltd	$	1,843
	596,756		Omron Corp		17,964
	238,701	e	Opus Group AB		173
	110,564	*	OSI Systems, Inc		8,509
	57,359		Oxford Instruments plc		504
	751,876		Pace plc		4,100
	446,058	*	Palo Alto Networks, Inc		76,722
	352,224		Pan-International Industrial		124
	75,497		Park Electrochemical Corp		1,328
	8,134	*,e	Parrot S.A.		397
	39,622		Partron Co Ltd		316
	6,332,000	e	PAX Global Technology Ltd		6,602
	47,214		PC Connection, Inc		979
	6,479,324		Pegatron Technology Corp		15,857
	148,471		Plantronics, Inc		7,550
	88,134	*	Plexus Corp		3,400
	377,586	*	Polycom, Inc		3,957
	39,578		Posiflex Technology, Inc		186
	1,090,753		Premier Farnell plc		1,734
	1,801,000		Primax Electronics Ltd		2,348
	799,000	*	Prime View International Co Ltd		378
	226,419	*	QLogic Corp		2,321
	2,922,134		Qualcomm, Inc		157,006
	2,947,217		Quanta Computer, Inc		5,130
	1,238,000		Quanta Storage, Inc		787
	555,544	*,e	Quantum Corp		387
	117,526	*	RealD, Inc		1,129
	508,930		Redington India Ltd		857
	92,939		Renishaw plc		2,840
	359,711	e	Ricoh Co Ltd		3,631
	49,900		Riso Kagaku Corp		849
	2,461,000	*	Ritek Corp		219
	73,426	*	Rofin-Sinar Technologies, Inc		1,904
	80,607	*	Rogers Corp		4,287
	8,500		Roland DG Corp		182
	196,714	*	Ruckus Wireless, Inc		2,337
	80,700		Ryosan Co Ltd		1,889
	65,900		Ryoyo Electro Corp		838
	15,950		Sam Young Electronics Co Ltd		181
	564,100		Samart I-Mobile PCL		28
	63,061		Samsung Electro-Mechanics Co Ltd		3,437
	83,418		Samsung SDI Co Ltd		7,675
	471,284		SanDisk Corp		25,605
	386,054	*,e	Sandvine Corp		671
	507,919	*	Sanmina Corp		10,854
	74,737	*	Scansource, Inc		2,650
	1,050,848	e	Seagate Technology, Inc		47,078
	602,900		Seiko Epson Corp		8,529
	20,000		Senao Networks, Inc		131
	992,000		Sercomm Corp		2,439
	11,101		SFA Engineering Corp		422
	114,800	*	Shanghai Potevio Co Ltd		130

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	72,876		Shimadzu Corp	$	1,052
	497,635	*	ShoreTel, Inc		3,717
	31,245	*,e	Sierra Wireless, Inc		662
	37,400	e	Siix Corp		973
	96,116	*,e	Silicon Graphics International Corp		378
	269,342		Simplo Technology Co Ltd		869
	1,123,660		Sinbon Electronics Co Ltd		1,902
	5,453		Sindoh Co Ltd		288
	518,000		Sirtec International Co Ltd		681
	52,000	e	SMK Corp		216
	133,137	*,e	Sonus Networks, Inc		762
	117,380		Spectris plc		3,003
	1,895		Spigen Korea Co Ltd		157
	830,362		Spirent Communications plc		951
	133,005	*,e	Stratasys Ltd		3,523
	7,070,000	*,e	Suncorp Technologies Ltd		182
	797,000	e	Sunny Optical Technology Group Co Ltd		1,597
	95,939	*,e	Super Micro Computer, Inc		2,615
	11,218	*	Suprema, Inc		213
	236,086	*	SVA Electron Co Ltd		142
	93,459	*	Synaptics, Inc		7,707
	2,648,000	e	Synertone Communication Corp		54
	74,646		SYNNEX Corp		6,349
	1,282,402		Synnex Technology International Corp		1,283
	28,800	*	Tabuchi Electric Co Ltd		188
	769,972		Taiflex Scientific Co Ltd		825
	1,495,577		Taiwan PCB Techvest Co Ltd		1,560
	171,103	e	Taiyo Yuden Co Ltd		2,236
	2,535,000	e	TCL Communication Technology Holdings Ltd		1,830
	152,490		TDK Corp		8,625
	402,253		TE Connectivity Ltd		24,091
	159,270	*	Tech Data Corp		10,910
	356,000	*	Technovator International Ltd		229
	89,007	*	Telit Communications plc		455
	1,020,095		Test Research, Inc		1,629
	350,773	*,e	Thin Film Electronics ASA		164
	33,000	e	Toko, Inc		78
	124,625		Tong Hsing Electronic Industries Ltd		318
	23,130,000	e	Tongda Group Holdings Ltd		4,032
	69,000	e	Topcon Corp		903
	130,000		Toshiba TEC Corp		414
	22,400	e	Toyo Corp/Chuo-ku		165
	288,003		TPK Holding Co Ltd		689
	1,940,000		Tpv Technology Ltd		292
	604,000		Trigiant Group Ltd		115
	431,053	*	Trimble Navigation Ltd		7,078
	1,564,832		Tripod Technology Corp		2,257
	1,724,000	e	Truly International Holdings		437
	22,800		TSC Auto ID Technology Co Ltd		152
	231,310		TT electronics plc		465
	379,033	*	TTM Technologies, Inc		2,361

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,464,039		TXC Corp	$	1,517
	80,810	e	Ubiquiti Networks, Inc		2,739
	1,250,883		Unimicron Technology Corp		477
	439,937		Unitech Printed Circuit Board Corp		136
	160,267	*	Universal Display Corp		5,433
	491,195		Venture Corp Ltd		2,862
	112,107	*,e	Viasat, Inc		7,207
	2,363,351	*	Viavi Solutions, Inc		12,691
	242,249	*,e	Violin Memory, Inc		334
	470,422	e	Vishay Intertechnology, Inc		4,558
	47,622	*	Vishay Precision Group, Inc		552
	58,344		Vivotek, Inc		149
	1,912,800		VST Holdings Ltd		522
	164,100		Vtech Holdings Ltd		1,948
	144,200	e	Wacom Co Ltd		531
	1,359,000		Wah Lee Industrial Corp		1,783
	462,769	m	Walsin Technology Corp		183
	1,410,000		Wasion Group Holdings Ltd		1,464
	1,124,373		Western Digital Corp		89,320
	295,789		Wi-Lan, Inc		536
	125,422		Wincor Nixdorf AG.		4,931
	190,500	*,b,m	Wintek Corp		0	^
	2,463,758		Wistron Corp		1,288
	1,517,794		Wistron NeWeb Corp		3,170
	1,254,872		WPG Holdings Co Ltd		1,212
	1,748,570		WT Microelectronics Co Ltd		1,755
	164,213		Xaar plc		1,390
	15,750	*,m	Ya Hsin Industrial Co Ltd		0
	1,711,000		Yageo Corp		2,623
	62,893		Yamatake Corp		1,592
	488,000	e,g	Yangtze Optical Fibre and Cable Joint Stock Ltd		518
	89,638	e	Yaskawa Electric Corp		915
	235,484		Yokogawa Electric Corp		2,465
	424,000	*	Yunbo Digital Synergy Group Ltd		142
	226,789	*	Zebra Technologies Corp (Class A)		17,361
	2,116,507		Zhen Ding Technology Holding Ltd		6,067
	293,000		Zinwell Corp		326
	842,098	e	ZTE Corp		1,926
	338,000		Zyxel Communications		124
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5,495,253
TELECOMMUNICATION SERVICES - 2.8%
	11,423		012 Smile.Communications Ltd		225
	232,338	*	8x8, Inc		1,921
	1,113,504		Advanced Info Service PCL (Foreign)		6,945
	175,580		AFK Sistema (GDR)		1,213
	4,256,686	*,e	Alibaba Health Information Technology Ltd		2,730
	50,635,889		America Movil S.A. de C.V. (Series L)		41,995
	351,750		APT Satellite Holdings Ltd		305
	2,383,000		Asia Pacific Telecom Co Ltd		696
	15,956,930		AT&T, Inc		519,877
	32,915		Atlantic Tele-Network, Inc		2,433

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	164,547	*,e	Avanti Communications Group plc	$	530
	1,804,900	*,e	Axtel SAB de C.V.		845
	1,116,996	e	BCE, Inc		45,718
	365,045		Belgacom S.A.		12,628
	11,980,919		Bezeq Israeli Telecommunication Corp Ltd		22,929
	2,008,275		Bharti Airtel Ltd		10,364
	1,450,932		Bharti Infratel Ltd		7,862
	93,602	*,e	Boingo Wireless, Inc		775
	10,252,218		BT Group plc		65,251
	7,218,840		Cable & Wireless plc		6,058
	54,525	*	Cellcom Israel Ltd		342
	239,524	*,g	Cellnex Telecom SAU		4,081
	1,752,638		CenturyTel, Inc		44,026
	6,287,774		China Communications Services Corp Ltd		2,427
	11,637,890		China Mobile Hong Kong Ltd		139,303
	16,419,618		China Telecom Corp Ltd		7,956
	11,001,220		China Unicom Ltd		13,996
	445,202	*,e	Chorus Ltd		762
	5,501,396		Chunghwa Telecom Co Ltd		16,532
	1,215,824	*	Cincinnati Bell, Inc		3,793
	1,532,000	e	Citic 1616 Holdings Ltd		526
	119,211		Cogent Communications Group, Inc		3,238
	131,164		Com Hem Holding AB		1,099
	156,458	e	Consolidated Communications Holdings, Inc		3,015
	5,220,503		Deutsche Telekom AG.		92,933
	10,404,369		Digi.Com BHD		13,136
	121,195	e	Drillisch AG.		6,459
	161,701		Elisa Oyj (Series A)		5,470
	388,827		Emirates Telecommunications Group Co PJSC		1,503
	111,174		Empresa Nacional de Telecomunicaciones S.A.		1,050
	53,387	*,e	Fairpoint Communications, Inc		823
	1,692,696		Far EasTone Telecommunications Co Ltd		3,651
	2,204,755	*	France Telecom S.A.		33,422
	324,569		Freenet AG.		10,738
	3,723,872	e	Frontier Communications Corp		17,688
	92,536	*	General Communication, Inc (Class A)		1,597
	1,228,725	*,e	Globalstar, Inc		1,929
	82,910		Globe Telecom, Inc		4,173
	46,805	*	Hawaiian Telcom Holdco, Inc		973
	387,357		Hellenic Telecommunications Organization S.A.		3,404
	2,424,127		HKT Trust and HKT Ltd		2,881
	4,252,651	e	Hutchison Telecommunications Hong Kong Holdings Ltd		1,712
	1,645,040		Idea Cellular Ltd		3,761
	63,928		IDT Corp (Class B)		914
	26,688		Iliad S.A.		5,399
	159,172	*,e	inContact, Inc		1,195
	244,468		Inmarsat plc		3,637
	179,854		Inteliquent, Inc		4,016
	183,433	*,e	Intelsat S.A.		1,180
	215,436	*,e	Iridium Communications, Inc		1,325
	116,700	*,e	Japan Communications, Inc		306
	5,998,635		Jasmine International PCL		927

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,089,991		Kcom Group plc	$	1,472
	1,836,000		KDDI Corp		41,095
	32,952		KT Corp		856
	257,812	*,e,m	Let’s GOWEX S.A.		3
	2,166,305	*	Level 3 Communications, Inc		94,646
	219,218		LG Telecom Ltd		2,244
	60,728		Lumos Networks Corp		738
	294,469	e	M2 Telecommunications Group Ltd		1,973
	1,217,373	*	Magyar Telekom		1,695
	96,001	e	Manitoba Telecom Services, Inc		2,021
	1,901,449		Maxis BHD		2,837
	104,974		MegaFon OAO (GDR)		1,275
	458,466	*	Midas S.A.		72
	40,675		Millicom International Cellular S.A.		2,544
	706,289		Mobile TeleSystems (ADR)		5,099
	359,209		MobileOne Ltd		713
	29,936	*	Mobistar S.A.		644
	2,796,216		MTN Group Ltd		35,957
	616,463		Netia S.A.		908
	1,800,900		Nippon Telegraph & Telephone Corp		63,434
	44,363	*	NTELOS Holdings Corp		401
	2,394,451		NTT DoCoMo, Inc		40,387
	312,137	*	Oi S.A. (Preference)		220
	87,327		Ooredoo QSC		1,849
	3,157,144	*	Orascom Telecom Holding SAE		767
	2,731,667	*	Orascom Telecom Media And Technology Holding SAE		245
	157,249	*,e	Orbcomm, Inc		877
	31,821	*,e	Pacific DataVision, Inc		951
	93,820	*	Partner Communications		372
	9,958,932		PCCW Ltd		5,126
	172,156		Philippine Long Distance Telephone Co		8,073
	615,898	e	Portugal Telecom SGPS S.A.		184
	253,171	*	Premiere Global Services, Inc		3,479
	2,593,890		PT Excelcomindo Pratama		464
	2,600,000	*	PT Indosat Tbk		666
	1,025,700	*	PT Link Net Tbk		315
	106,513,424		PT Telekomunikasi Indonesia Persero Tbk		19,236
	99,783	e	QSC AG.		168
	1,104,258	*	Reliance Communication Ventures Ltd		1,145
	960,004		Rogers Communications, Inc (Class B)		33,077
	146,633		Rostelecom (ADR)		1,163
	2,031,981		Royal KPN NV		7,621
	23,300		Samart Telcoms PCL		13
	446,726	*	SBA Communications Corp (Class A)		46,790
	62,720		Shenandoah Telecom Co		2,685
	15,542,116		Singapore Telecommunications Ltd		39,339
	14,675		SK Telecom Co Ltd		3,255
	1,226,688		SmarTone Telecommunications Holding Ltd		2,320
	1,349,558		Softbank Corp		62,403
	53,508		Spok Holdings, Inc		881
	1,229,288	*,e	Sprint Corp		4,721
	500,624	e	StarHub Ltd		1,219

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	23,436	*,e	Straight Path Communications, Inc	$	947
	33,998	*,g	Sunrise Communications Group AG.		1,952
	11,230		Swisscom AG.		5,605
	1,820,754		Taiwan Mobile Co Ltd		5,574
	518,459	e	TalkTalk Telecom Group plc		2,469
	110,132		Tata Communications Ltd		696
	4,432,887		TDC AS		22,862
	326,371		Tele2 AB		3,183
	10,553,106		Telecom Corp of New Zealand Ltd		20,167
	9,564,594		Telecom Italia RSP		9,810
	6,782,742	*,e	Telecom Italia S.p.A.		8,359
	778,502		Telefonica Brasil S.A.		7,201
	501,391	e	Telefonica Deutschland Holding AG.		3,066
	5,106,291	*	Telefonica S.A.		61,949
	1,204,286		Telekom Malaysia BHD		1,832
	1,899,036		Telekomunikacja Polska S.A.		3,630
	1,746,337		Telenor ASA		32,633
	1,445,663		Telephone & Data Systems, Inc		36,084
	2,794,466		TeliaSonera AB		15,084
	795,178		Telkom S.A. Ltd		3,823
	9,470,738	e	Telstra Corp Ltd		37,444
	357,394		TELUS Corp		11,261
	357,500		Thaicom PCL		311
	958,468		Tim Participacoes S.A.		1,816
	316,320		Time dotCom BHD		475
	2,933,466		TM International BHD		3,875
	4,295,588	*	T-Mobile US, Inc		171,007
	1,743,300		Tower Bersama Infrastructure		780
	636,503		TPG Telecom Ltd		4,878
	7,468,353	*	True Corp PCL (Foreign)		2,011
	425,533		Turk Telekomunikasyon AS		840
	1,545,245		Turkcell Iletisim Hizmet AS		5,392
	32,091	*	US Cellular Corp		1,137
	13,308,918		Verizon Communications, Inc		579,071
	131,847		Verizon Communications, Inc (New)		5,761
	183,282	e	Vocus Communications Ltd		759
	422,257		Vodacom Group Pty Ltd		4,200
	49,307,353		Vodafone Group plc		155,519
	635,786	e	Vodafone Group plc (ADR)		20,180
	887,248		Vodafone Qatar		3,316
	1,081,767	*	Vonage Holdings Corp		6,361
	537,441	e	Windstream Holdings, Inc		3,300
	7,900	e	WirelessGate, Inc		134
	314,602	*,e	Zayo Group Holdings, Inc		7,978
			TOTAL TELECOMMUNICATION SERVICES		3,043,968
TRANSPORTATION - 2.6%
	579,509	e	Abertis Infraestructuras S.A. (Continuous)		9,169
	32,698		Aegean Airlines S.A.		245
	56,726	*,g	Aena S.A.		6,275
	111,255		Aeroports de Paris		12,627
	7,225,018		Air Arabia PJSC		2,759

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	40,000	*	Air Canada	$	322
	2,299,807		Air China Ltd		1,822
	136,937	*,e	Air France-KLM		957
	2,561,023		Air New Zealand Ltd		4,030
	254,242	*	Air Transport Services Group, Inc		2,174
	4,066,280		AirAsia BHD		1,186
	2,310,025	*	AirAsia X BHD		103
	404,600		Airports of Thailand PCL (Foreign)		3,140
	11,463	*	AJ Rent A Car Co Ltd		117
	629,517		Alaska Air Group, Inc		50,015
	1,237,567	e	All Nippon Airways Co Ltd		3,467
	43,704		Allegiant Travel Co		9,451
	35,887		Amerco, Inc		14,120
	2,057,906		American Airlines Group, Inc		79,908
	634,771	*,b,m	AMR Corp (Escrow)		6
	1,684,000	e	Anhui Expressway Co		1,377
	118,372		Ansaldo STS S.p.A.		1,255
	9,256		AP Moller - Maersk AS (Class A)		13,942
	19,700		AP Moller - Maersk AS (Class B)		30,367
	1,502,218		Aramex PJSC		1,291
	215,251		Arkansas Best Corp		5,547
	66,400		Arteris S.A.		159
	745,921		Asciano Group		4,416
	18,562,000		Asia Aviation PCL (ADR)		2,213
	98,394	*	Asiana Airlines		438
	140,924	*	Atlas Air Worldwide Holdings, Inc		4,870
	1,576,902		Auckland International Airport Ltd		4,936
	94,206		Autostrada Torino-Milano S.p.A.		1,252
	633,806		Autostrade S.p.A.		17,729
	983,295		Avianca Holdings S.A.		588
	689,085	*	Avis Budget Group, Inc		30,099
	542,600		Bangkok Airways Co Ltd		295
	113,750		Bangkok Aviation Fuel Services PCL		78
	1,352,200		Bangkok Expressway PCL		1,353
	4,694,400	*	Bangkok Metro PCL		229
	461,435		BBA Aviation plc		1,874
	1,883,803		Beijing Capital International Airport Co Ltd		1,761
	7,955		Blue Dart Express Ltd		911
	777,349		Bollore		3,790
	278,012		bpost S.A.		6,611
	5,330,000		BTS Group Holdings PCL (Foreign)		1,432
	1,237,063		Canadian National Railway Co		70,247
	68,000		Canadian Pacific Railway Ltd		9,763
	320,064		Canadian Pacific Railway Ltd (Toronto)		45,939
	1,946,830	e	Cathay Pacific Airways Ltd		3,666
	1,658,290		Cebu Air, Inc		3,070
	220,585	*	Celadon Group, Inc		3,534
	274,472		Central Japan Railway Co		44,252
	336,278		CH Robinson Worldwide, Inc		22,793
	2,005,715	*	China Airlines		688
	9,752,000	*,e	China Eastern Airlines Corp Ltd (H Shares)		5,824
	1,484,260		China Merchants Holdings International Co Ltd		4,382

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	886,900		China Merchants Holdings Pacific Ltd	$	556
	5,234,187	*,e,m	China Shipping Container Lines Co Ltd		1,575
	3,979,500		China Southern Airlines Co Ltd		2,916
	13,400,000	*,e	China Timber Resources Group Ltd		59
	73,000		Chinese Maritime Transport Ltd		49
	1,049,395		Cia de Concessoes Rodoviarias		3,221
	151,973		Cia de Distribucion Integral Logista Holdings SAU		2,867
	2,065,710	e	ComfortDelgro Corp Ltd		4,173
	13,022	e	Compagnie Maritime Belge S.A.		223
	10,532,554	*	Compania SudAmericana de Vapores S.A.		312
	81,731		Container Corp Of India Ltd		1,850
	451,000	*,e	Controladora Vuela Cia de Aviacion SAB de C.V.		675
	18,000	*	Controladora Vuela Cia de Aviacion SAB de C.V. (ADR)		269
	149,082		Con-Way, Inc		7,074
	74,304	e	Copa Holdings S.A. (Class A)		3,116
	128,557		Cosan Logistica S.A.		38
	3,530,336	*,e,m	COSCO Holdings		2,250
	1,980,000	e	Cosco International Holdings Ltd		1,122
	4,857,961		COSCO Pacific Ltd		6,285
	262,287		Costamare, Inc		3,218
	51,002	*	Covenant Transportation Group, Inc		917
	3,638,826		CSX Corp		97,884
	482,581		CTT-Correios de Portugal S.A.		5,390
	320,600	e	CWT Ltd		446
	25,483	e	D/S Norden		563
	290,098		Dart Group plc		2,124
	535,850		Dazhong Transportation Group Co Ltd		488
	4,254,435		Delta Air Lines, Inc		190,897
	273,510		Deutsche Lufthansa AG.		3,807
	2,195,404		Deutsche Post AG.		60,819
	97,680		Dfds A.S.		3,109
	419,055		DP World Ltd		8,912
	522,457		DSV AS		19,523
	213,165		DX Group plc		284
	45,161	*,e	Eagle Bulk Shipping, Inc		268
	566,169		East Japan Railway Co		47,709
	1,763,691		easyJet plc		47,609
	178,070	*	Echo Global Logistics, Inc		3,490
	257,164		EcoRodovias Infraestrutura e Logistica S.A.		396
	1,839,076	*	Eva Airways Corp		1,032
	462,000		Evergreen International Storage & Transport Corp		182
	1,524,165		Evergreen Marine Corp Tawain Ltd		644
	210,630		Expeditors International of Washington, Inc		9,910
	1,317,981		FedEx Corp		189,763
	283,000		First Steamship Co Ltd		93
	1,188,421	*	Firstgroup plc		1,761
	13,608		Flughafen Wien AG.		1,227
	8,137		Flughafen Zuerich AG.		5,664
	80,987		Forward Air Corp		3,360
	57,822	e	Fraport AG. Frankfurt Airport Services Worldwide		3,575
	556,000		Freetech Road Recycling Technology Holdings Ltd		58
	313,631		Freightways Ltd		1,115

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	385,000	e	Fukuyama Transporting Co Ltd	$	2,080
	106,081		Gateway Distriparks Ltd		577
	112,090	*	Genesee & Wyoming, Inc (Class A)		6,622
	22,311		GLOVIS Co Ltd		4,229
	110,008		Go-Ahead Group plc		4,087
	102,106	*	Gol Linhas Aereas Inteligentes S.A.		95
	82,838	*,e	Golden Ocean Group Ltd		209
	162,996	*,e	Golden Ocean Group Ltd (Oslo)		401
	1,296,721	e	Grindrod Ltd		1,383
	1,095,695		Groupe Eurotunnel S.A.		14,928
	888,300	*,e	Grupo Aeromexico SAB de C.V.		1,391
	558,800		Grupo Aeroportuario del Centro Norte Sab de C.V.		2,771
	886,991		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		7,714
	363,918		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		5,560
	395,360		Guangdong Provincial Expressway Development Co Ltd		182
	612,000		Guangdong Yueyun Transportation Co Ltd		399
	249,851	*	Gujarat Pipavav Port Ltd		708
	1,299,804	*	GVK Power & Infrastructure Ltd		154
	134,000		Hainan Meilan International Airport Co Ltd		154
	24,437		Hamburger Hafen und Logistik AG.		398
	75,269		Hanjin Kal Corp		1,603
	132,674	*	Hanjin Shipping Co Ltd		614
	8,296		Hanjin Transportation Co Ltd		334
	299,532		Hankyu Hanshin Holdings, Inc		1,832
	203,005	*,e	Hawaiian Holdings, Inc		5,010
	133,197	e	Heartland Express, Inc		2,656
	1,428,000		Henderson Investment Ltd		115
	2,962,067	*	Hertz Global Holdings, Inc		49,555
	199,500		Hitachi Transport System Ltd		3,289
	981,804		Hopewell Highway Infrastructure Ltd		490
	129,771	*	Hub Group, Inc (Class A)		4,725
	6,154,053		Hutchison Port Holdings Trust		3,388
	122,164	*	Hyundai Merchant Marine Co Ltd		637
	2,110	*	ID Logistics Group		274
	88,557	e	Iino Kaiun Kaisha Ltd		402
	4,549	*	Integer.pl S.A.		145
	1,376,068	*	International Consolidated Airlines Group S.A.		12,328
	3,114,249	*	International Consolidated Airlines Group S.A. (London)		27,819
	1,638,577		International Container Term Services, Inc		2,628
	492,665		Irish Continental Group plc		2,413
	68,375		J.B. Hunt Transport Services, Inc		4,882
	788,431		Japan Airlines Co Ltd		27,899
	78,800	e	Japan Airport Terminal Co Ltd		3,406
	112,968	*	Jet Airways India Ltd		559
	1,687,946	*	JetBlue Airways Corp		43,498
	3,606,123		Jiangsu Express		4,619
	204,710		Jinzhou Port Co Ltd		103
	62,200		Julio Simoes Logistica S.A.		151
	586,587		Kamigumi Co Ltd		4,807
	510,432		Kansas City Southern Industries, Inc		46,388
	3,480,400		Kawasaki Kisen Kaisha Ltd		7,652
	389,338		Keihin Electric Express Railway Co Ltd		3,099

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	466,586		Keio Corp	$	3,317
	79,322		Keisei Electric Railway Co Ltd		870
	824,547		Kerry Logistics Network Ltd		1,175
	1,407,179		Kintetsu Corp		5,054
	35,600		Kintetsu World Express, Inc		628
	112,884	*	Kirby Corp		6,993
	161,987		Knight Transportation, Inc		3,888
	63,300		Konoike Transport Co Ltd		788
	7,553	*	Korea Express Co Ltd		1,275
	12,104	*	Korea Line Corp		214
	99,503	*	Korean Air Lines Co Ltd		2,637
	167,268		Kuehne & Nagel International AG.		21,508
	714,652	*	Lan Airlines S.A.		3,436
	128,606		Landstar System, Inc		8,163
	115,938	*,e	Latam Airlines Group S.A. (ADR)		566
	165,243		Localiza Rent A Car		1,019
	4,053		Logistec Corp		126
	428,907		Macquarie Atlas Roads Group		1,178
	132,464		Macquarie Infrastructure Co LLC		9,890
	888,808		Malaysia Airports Holdings BHD		1,064
	340,100		Malaysian Bulk Carriers BHD		68
	60,399		Marten Transport Ltd		977
	100,000		Maruzen Showa Unyu Co Ltd		351
	240,641		Matson, Inc		9,262
	2,690,844		MISC BHD		5,400
	29,349	e	Mitsubishi Logistics Corp		340
	665,812	e	Mitsui OSK Lines Ltd		1,599
	105,610		Mitsui-Soko Co Ltd		308
	2,022,346		MTR Corp		8,793
	1,974,309		Mundra Port and Special Economic Zone Ltd		9,019
	663,055	e	Nagoya Railroad Co Ltd		2,606
	241,100		Namyong Terminal PCL		104
	543,000		Nankai Electric Railway Co Ltd		2,772
	580,769		National Express Group plc		2,502
	213,910	e	Navios Maritime Holdings, Inc		533
	874,900	*,e	Neptune Orient Lines Ltd		594
	3,401,261		Nippon Express Co Ltd		16,252
	149,800	e	Nippon Konpo Unyu Soko Co Ltd		2,646
	1,797,084		Nippon Yusen Kabushiki Kaisha		4,165
	330,000		Nishi-Nippon Railroad Co Ltd		1,616
	198,000		Nissin Corp		571
	289,100		Nok Airlines PCL		56
	252,616		Norfolk Southern Corp		19,300
	288,365		Northgate plc		1,987
	26,933	*,e	Norwegian Air Shuttle AS		1,055
	139,037	e	Odakyu Electric Railway Co Ltd		1,252
	95,131		Oesterreichische Post AG.		3,266
	2,545,311	*	OHL Mexico SAB de CV		3,281
	235,683	*	Old Dominion Freight Line		14,377
	284,500		Orient Overseas International Ltd		1,339
	1,683,290	e	Pacific Basin Shipping Ltd		512
	14,337	*,e	PAM Transportation Services, Inc		474

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,149		Panalpina Welttransport Holding AG.	$	1,437
	22,657		Park-Ohio Holdings Corp		654
	36,040	*	Pegasus Hava Tasimaciligi AS.		210
	7,222		Piraeus Port Authority		121
	58,144		PKP Cargo S.A.		1,034
	743,600		Pos Malaysia & Services Holdings BHD		619
	511,950	*	Precious Shipping PCL		100
	12,753,500	*,m	PT Berlian Laju Tanker Tbk		0	^
	2,293,402		PT Jasa Marga Tbk		758
	9,066,700	*	PT Nusantara Infrastructure Tbk		89
	7,020,594	*	Qantas Airways Ltd		18,432
	2,212,456		QR National Ltd		7,816
	728,081	e	Qube Logistics Holdings Ltd		1,018
	121,003	*	Radiant Logistics, Inc		540
	859,724		Redde plc		2,094
	109,196	*	Republic Airways Holdings, Inc		631
	87,364	*	Roadrunner Transportation Services Holdings, Inc		1,608
	1,007,077		Royal Mail plc		6,998
	269,450	*	Rumo Logistica Operadora Multimodal S.A.		408
	3,168		Ryanair Holdings plc		46
	372,953		Ryanair Holdings plc (ADR)		29,202
	1,027,428		Ryder System, Inc		76,071
	70,345		Safe Bulkers, Inc		194
	391,000		Sagami Railway Co Ltd		2,139
	66,094	*	Saia, Inc		2,046
	96	*,m	SAir Group		0
	522,000		Sankyu, Inc		2,529
	104,500		Santos Brasil Participacoes S.A.		337
	71,757	*,e	SAS AB		135
	818,025	*,e	Scorpio Bulkers, Inc		1,194
	11,025		Sebang Co Ltd		171
	239,800		Seino Holdings Corp		2,502
	81,000	e	Senko Co Ltd		571
	507,800		Shandong Airlines Co Ltd		1,062
	146,200		Shanghai Jinjiang International Investment Holdings Co		221
	80,700		Shenzhen Chiwan Petroleum		138
	335,920	m	Shenzhen Chiwan Wharf Holdings Ltd		831
	3,086,000	e	Shenzhen Expressway Co Ltd		2,019
	1,463,514		Shenzhen International Holdings Ltd		2,016
	96,605		Shih Wei Navigation Co Ltd		36
	433,000		Shinwa Kaiun Kaisha Ltd		855
	4,971,097		Shun TAK Holdings Ltd		1,886
	4,000,000	e	Sichuan Expressway Co Ltd		1,263
	292,000		Sincere Navigation		161
	194,249		Singapore Airlines Ltd		1,462
	1,908,100		Singapore Airport Terminal Services Ltd		5,140
	1,529,819	e	Singapore Post Ltd		1,825
	2,514,000	e	Sinotrans Ltd		1,186
	1,339,500	e	Sinotrans Shipping Ltd		259
	3,012,000		SITC International Co Ltd		1,459
	15,966		Sixt AG.		778
	46,074		Sixt AG. (Preference)		1,788

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	309,672		Skywest, Inc	$	5,165
	750,700	e	SMRT Corp Ltd		689
	6,872,040		Sociedad Matriz SAAM S.A.		457
	69,545		Societa Iniziative Autostradali e Servizi S.p.A.		781
	2,351,277		Southwest Airlines Co		89,443
	225,303	*	Spirit Airlines, Inc		10,657
	1,104,739		Stagecoach Group plc		5,641
	46,061		Stolt-Nielsen S.A.		661
	74,500	e	Student Transportation, Inc		302
	371,767		Sumitomo Warehouse Co Ltd		1,797
	276,868	*	Swift Transportation Co, Inc		4,159
	2,378,776		Sydney Airport		9,997
	343,000		T.Join Transportation Co		390
	87,000		Taiwan Navigation Co Ltd		34
	420,797		TAV Havalimanlari Holding AS		3,307
	25,500		Tegma Gestao Logistica		23
	1,860,600	*	Thai Airways International PCL-Foreign		519
	596,335		Thoresen Thai Agencies PCL		166
	7,524,000		Tianjin Port Development Holdings Ltd		1,200
	3,202,400	*,e	Tiger Airways Holdings Ltd		676
	117,456		TNT Express NV		896
	446,788	*	TNT NV		1,633
	778,033		Tobu Railway Co Ltd		3,342
	2,159,935		Tokyu Corp		15,851
	7,200		Trancom Co Ltd		383
	451,048	e	TransForce, Inc		8,075
	1,557,096		Transurban Group		10,907
	166,060		Trencor Ltd		627
	3,516,357	*	Turk Hava Yollari		9,277
	253,937		U-Ming Marine Transport Corp		271
	4,203,276		Union Pacific Corp		371,612
	1,448,885	*	United Continental Holdings, Inc		76,863
	1,412,508		United Parcel Service, Inc (Class B)		139,400
	29,348	e	Universal Truckload Services, Inc		457
	41,711	*	USA Truck, Inc		719
	245,831	*,e	UTI Worldwide, Inc		1,128
	83,018	*,e	Virgin America, Inc		2,842
	726,675	*	Virgin Australia Holdings Ltd		248
	67,336	*,m	Virgin Australia Int Holdings		0	^
	35,069		VTG AG.		1,037
	3,396,300		Wan Hai Lines Ltd		2,150
	112,222		Werner Enterprises, Inc		2,817
	188,995	*	Wesco Aircraft Holdings, Inc		2,306
	476,887		West Japan Railway Co		29,889
	3,388,600		Westports Holdings BHD		3,274
	141,043	e	Westshore Terminals Investment Corp		2,685
	149,843		Wilh. Wilhelmsen ASA		644
	825,787		Wisdom Marine Lines Co Ltd		932
	3,500	*,g	Wizz Air Holdings plc		108
	6,164,000		Xiamen International Port Co Ltd		1,496
	183,433	*,e	XPO Logistics, Inc		4,371
	71,566		Yamato Transport Co Ltd		1,370

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,053,105	*	Yang Ming Marine Transport	$	306
	174,909	*	YRC Worldwide, Inc		2,319
	1,464,000	e	Yuexiu Transport Infrastructure Ltd		922
	52,500		Yusen Air & Sea Service Co Ltd		540
	6,222,819		Zhejiang Expressway Co Ltd		6,797
			TOTAL TRANSPORTATION		2,852,906
UTILITIES - 3.0%
	3,748,336		A2A S.p.A.		4,653
	167,965	e	Abengoa Yield plc		2,780
	3,411,876		Aboitiz Power Corp		3,153
	50,994		Acciona S.A.		3,619
	136,727		ACEA S.p.A.		1,846
	338,917	e	Actelios S.p.A.		421
	745,667	*	Adani Power Ltd		281
	270,924	*	Adani Transmissions Ltd		111
	1,399,431		AES Corp		13,700
	2,375,560		AES Gener S.A.		1,111
	176,233		AES Tiete S.A.		625
	348,364	*,m	AET&D Holdings No 1  Ptd Ltd		0
	567,548	e	AGL Energy Ltd		6,388
	256,691		AGL Resources, Inc		15,668
	3,211,047		Aguas Andinas S.A.		1,670
	275,162	*	Akenerji Elektrik Uretim AS		86
	170,379	*	Aksa Enerji Uretim AS		157
	192,749	e	Algonquin Power & Utilities Corp		1,364
	212,486		Allete, Inc		10,728
	139,629		Alliant Energy Corp		8,167
	75,400		Alupar Investimento S.A.		283
	719,513		Ameren Corp		30,414
	2,369,307		American Electric Power Co, Inc		134,719
	162,141		American States Water Co		6,713
	850,528		American Water Works Co, Inc		46,847
	2,126,180		APA Group		12,832
	142,011		Aqua America, Inc		3,759
	34,087		Artesian Resources Corp		823
	73,151		Ascopiave S.p.A.		168
	107,587		Atco Ltd		3,160
	38,529		Athens Water Supply & Sewage Co S.A.		246
	321,631	e	Atlantic Power Corp		598
	255,788	e	Atlantic Power Corp (Toronto)		479
	284,923		Atmos Energy Corp		16,577
	1,300,490		AusNet Services		1,250
	239,345		Avista Corp		7,958
	8,681,011		Beijing Enterprises Water Group Ltd		6,072
	16,058,000		Benpres Holdings Corp		2,020
	310,800		Binhai Investment Co Ltd		103
	29,442		BKW S.A.		1,124
	190,316		Black Hills Corp		7,868
	29,142		Boralex, Inc		278
	299,292		California Water Service Group		6,620
	911,396	*	Calpine Corp		13,306

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	118,199		Canadian Utilities Ltd	$	3,198
	458,000	*,e	Canvest Environment Protection Group Co Ltd		198
	121,025	e	Capital Power Corp		1,712
	1,231,187		Centerpoint Energy, Inc		22,211
	74		Centrais Eletricas Brasileiras S.A.		0	^
	249,779		Centrais Eletricas Brasileiras S.A. (Preference)		551
	27,700		Centrais Eletricas de Santa Catarina S.A.		81
	7,397,920		Centrica plc		25,701
	120,953		CESC Ltd		956
	224,433		CEZ AS		4,668
	808,000	*	CGN Meiya Power Holdings Co Ltd		202
	22,023,052	g	CGN Power Co Ltd		9,212
	37,923		Chesapeake Utilities Corp		2,013
	894,344	e	Cheung Kong Infrastructure Holdings Ltd		8,016
	2,438,000		China Datang Corp Renewable Power Co Ltd		322
	9,639,825	e	China Gas Holdings Ltd		13,296
	3,646,813		China Longyuan Power Group Corp		3,944
	4,368,000	e	China Oil and Gas Group Ltd		271
	19,281,000		China Power International Development Ltd		12,577
	3,820,000	e	China Power New Energy Development Co Ltd		278
	1,152,668		China Resources Gas Group Ltd		2,975
	3,339,962	e	China Resources Power Holdings Co		7,668
	790,000		China Water Affairs Group Ltd		364
	1,148,000	*,e	China Water Industry Group Ltd		218
	1,110,239		Chubu Electric Power Co, Inc		16,370
	236,552	*	Chugoku Electric Power Co, Inc		3,260
	388,070		Cia de Saneamento Basico do Estado de Sao Paulo		1,551
	55,765		Cia de Saneamento de Minas Gerais-COPASA		175
	2,507,362		Cia Energetica de Minas Gerais		4,421
	239,587		Cia Energetica de Sao Paulo (Class B)		919
	12,704		Cia Energetica do Ceara		111
	418,871		Cia Paranaense de Energia		3,449
	1,465,900		CK Power PCL		99
	185,652		Cleco Corp		9,884
	2,952,359		CLP Holdings Ltd		25,240
	2,650,256		CMS Energy Corp		93,607
	8,555,863		Colbun S.A.		2,205
	44,471	e	Connecticut Water Service, Inc		1,624
	781,444		Consolidated Edison, Inc		52,240
	29,058	e	Consolidated Water Co, Inc		337
	1,152,749		Contact Energy Ltd		3,658
	216,543		CPFL Energia S.A.		812
	2,400,000	e	CT Environmental Group Ltd		754
	3,709,087		Datang International Power Generation Co Ltd		1,408
	1,744,256		Dominion Resources, Inc		122,761
	435,420	e	Drax Group plc		1,609
	304,909		DTE Energy Co		24,506
	6,326,485		DUET Group (ASE Exchange)		9,614
	2,865,738		Duke Energy Corp		206,161
	333,171	*	Dynegy, Inc		6,887
	1,294,278	*	E.CL SA		1,799
	2,012,210		E.ON AG.		17,268

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,672		E1 Corp	$	450
	493,600		Eastern Water Resources Development and Management PCL		152
	1,537,228		Edison International		96,953
	1,262,720		EDP - Energias do Brasil S.A.		3,656
	208,892		El Paso Electric Co		7,691
	116,100		Electric Power Development Co		3,543
	484,518		Electricite de France		8,555
	93,500	*	Eletropaulo Metropolitana de Sao Paulo S.A.		258
	31,671		Elia System Operator S.A.		1,542
	148,314		Empire District Electric Co		3,267
	4,018,047		Empresa Nacional de Electricidad S.A.		4,729
	293,684		Enagas		8,422
	1,619,976		Endesa S.A.		34,163
	379,415		Enea S.A.		1,349
	522,827		Enel Green Power S.p.A		989
	9,023,715		Enel S.p.A.		40,264
	593,944		Energa S.A.		2,636
	5,757,675		Energias de Portugal S.A.		21,093
	724,540	*,e	Energy World Corp Ltd		102
	33,834,076		Enersis S.A.		8,521
	847,695		ENN Energy Holdings Ltd		4,082
	628,184		Entergy Corp		40,895
	319,700		Equatorial Energia S.A.		2,731
	50,000	e	eRex Co Ltd		503
	476,111		ERM Power Ltd		750
	420,064		Eversource Energy		21,264
	57,719	e	EVN AG.		635
	2,481,893		Exelon Corp		73,712
	125,826		Federal Grid Co Unified Energy System JSC (ADR)		52
	4,113,600		First Gen Corp		1,950
	611,050		First Philippine Holdings Corp		858
	1,633,284		FirstEnergy Corp		51,138
	538,292		Fortis, Inc		15,397
	820,924		Fortum Oyj		12,146
	556,081		GAIL India Ltd		2,566
	698,000		Gas Malaysia BHD		394
	204,575		Gas Natural SDG S.A.		3,992
	1,591,099		Gaz de France		25,745
	592,947	e	Genesis Energy Ltd		697
	32,680	e	Genie Energy Ltd		269
	605,143		Glow Energy PCL (Foreign)		1,422
	132,037		Great Plains Energy, Inc		3,568
	7,520,143		Guangdong Investments Ltd		11,226
	56,481	*	Gujarat Gas Co Ltd		446
	135,465		Gujarat State Petronet Ltd		244
	10,304		Hanjin Heavy Industries & Construction Holdings Co Ltd		58
	129,838		Hawaiian Electric Industries, Inc		3,725
	1,345,762		Hera S.p.A.		3,494
	185,600	*	Hokkaido Electric Power Co, Inc		1,801
	315,642	*	Hokuriku Electric Power Co		4,245
	6,322,193		Hong Kong & China Gas Ltd		11,855

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,932,319	e	Hong Kong Electric Holdings Ltd	$	18,285
	467,930	*	Huadian Energy Co Ltd		252
	12,378,000		Huadian Fuxin Energy Corp Ltd		4,284
	4,588,000		Huadian Power International Co		3,600
	6,709,066		Huaneng Power International, Inc		7,264
	11,088,000		Huaneng Renewables Corp Ltd		4,110
	556,000	e	Hyflux Ltd		271
	9,186,591		Iberdrola S.A.		61,212
	133,150		Idacorp, Inc		8,616
	71,572	*	Indiabulls Infrastructure and Power Ltd		2
	69,514		Indraprastha Gas Ltd		507
	327,132		Infinis Energy plc		666
	214,600	e	Infraestructura Energetica ,NV SAB de C.V.		876
	2,042,108		Infratil Ltd		3,999
	218,164	e	Innergex Renewable Energy, Inc		1,708
	1,027,900		Inter Far East Engineering		288
	546,527		Interconexion Electrica S.A.		1,266
	1,083,714		Inversiones Aguas Metropolitanas S.A.		1,498
	978,520		Iride S.p.A.		1,597
	751,553		Isagen S.A. ESP		701
	11,000	e	iShares MSCI EAFE Small-Cap ETF		526
	183,323		ITC Holdings Corp		6,112
	520,428	*	Jaiprakash Power Ventures Ltd		56
	295,303	e	Just Energy Income Fund		1,819
	31,100		K&O Energy Group, Inc		378
	592,000	*,e,g	Kangda International Environmental Co Ltd		157
	845,015	*	Kansai Electric Power Co, Inc		9,394
	18,543	*	Kenon Holdings Ltd		244
	224,921		Keppel Infrastructure Trust		83
	3,500,000	*	Kong Sun Holdings Ltd		299
	11,826		Korea District Heating Corp		664
	566,918		Korea Electric Power Corp		23,373
	114,046		Korea Gas Corp		3,830
	4,128		KyungDong City Gas Co Ltd		376
	369,677	*	Kyushu Electric Power Co, Inc		4,033
	137,029		Laclede Group, Inc		7,472
	397,000		Light S.A.		1,157
	2,844,400		Malakoff Corp BHD		1,050
	2,826,100		Manila Water Co, Inc		1,311
	437,253		MDU Resources Group, Inc		7,521
	2,817,289	*	Meridian Energy Ltd		3,794
	102,696		MGE Energy, Inc		4,230
	59,474		Middlesex Water Co		1,418
	501,088	e	Mighty River Power Ltd		807
	105,934	e	National Fuel Gas Co		5,295
	6,213,429		National Grid plc		86,535
	296,785		New Jersey Resources Corp		8,912
	2,808,903		NextEra Energy, Inc		274,009
	312,066		NiSource, Inc		5,789
	118,424	e	Northland Power Income Fund		1,543
	72,444		Northwest Natural Gas Co		3,321
	125,447		NorthWestern Corp		6,753

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,318,004		NRG Energy, Inc	$	19,572
	141,637	e	NRG Yield, Inc (Class A)		1,579
	160,319	e	NRG Yield, Inc (Class C)		1,861
	2,590,097		NTPC Ltd		4,886
	600,912		OGE Energy Corp		16,441
	197,100		Okinawa Electric Power Co, Inc		4,429
	135,199		ONE Gas, Inc		6,129
	94,030	e	Ormat Technologies, Inc		3,200
	2,635,188		Osaka Gas Co Ltd		9,991
	96,687	e	Otter Tail Corp		2,520
	141,561	e	Pattern Energy Group, Inc		2,702
	624,585		Pennon Group plc		7,347
	244,825		Pepco Holdings, Inc		5,930
	1,720,200		Petronas Gas BHD		8,621
	1,939,799		PG&E Corp		102,421
	208,364		Piedmont Natural Gas Co, Inc		8,349
	488,151		Pinnacle West Capital Corp		31,310
	359,145		PNM Resources, Inc		10,074
	11,579,208		PNOC Energy Development Corp		1,365
	1,456,114		Polska Grupa Energetyczna S.A.		5,174
	221,067		Portland General Electric Co		8,173
	937,062		Power Grid Corp of India Ltd		1,895
	2,327,608	e	PPL Corp		76,555
	14,752,087		PT Perusahaan Gas Negara Persero Tbk		2,553
	528,867		PTC India Ltd		482
	113,592		Public Power Corp		595
	1,348,199		Public Service Enterprise Group, Inc		56,840
	142,800	*	Puncak Niaga Holding BHD		85
	32,110		Qatar Electricity & Water Co		1,846
	173,745		Questar Corp		3,372
	23,126		Red Electrica de Espana		1,920
	459,521		Redes Energeticas Nacionais S.A.		1,378
	349,055		Reliance Energy Ltd		1,857
	65,682	*,m	Rosseti PJSC (ADR)		86
	38,870	e	Rubis		2,891
	1,262,402		RusHydro PJSC (ADR)		1,187
	737,549		RWE AG.		8,381
	134,166	*,m	S2 Resources Ltd		13
	1,144,758		Saeta Yield S.A.		10,553
	8,265		Samchully Co Ltd		779
	332,900	*	Scan Inter PCL		85
	145,963		SCANA Corp		8,212
	39,887	g	Scatec Solar ASA		187
	647,150		Scottish & Southern Energy plc		14,647
	19,120	e	Sechilienne-Sidec		319
	1,366,918		Sempra Energy		132,208
	181,348		Severn Trent plc		5,999
	207,100	*	Shenzhen Nanshan Power Co Ltd		117
	139,884	*,e	Shikoku Electric Power Co, Inc		2,281
	114,000		Shizuoka Gas Co Ltd		741
	719,980	*,e	SIIC Environment Holdings Ltd		425
	40,484		SJW Corp		1,245

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,919,502		Snam Rete Gas S.p.A.	$	9,858
	703,000	*,e,m	Sound Global Ltd		1
	348,581		South Jersey Industries, Inc		8,802
	593,396		Southern Co		26,525
	211,694		Southwest Gas Corp		12,346
	20,614	e	Spark Energy, Inc		341
	1,374,142		Spark Infrastructure Group		1,815
	426,900		SPCG PCL		283
	1,145,900		Suez Environnement S.A.		20,591
	312,461	e	Superior Plus Corp		2,573
	331,450		Taiwan Cogeneration Corp		213
	346,600	*	Talen Energy Corp		3,501
	1,597,172		Tata Power Co Ltd		1,584
	1,900,172		Tauron Polska Energia S.A.		1,641
	260,269		TECO Energy, Inc		6,835
	184,110	e	Telecom Plus plc		3,114
	4,537,265		Tenaga Nasional BHD		12,410
	46,011		Terna Energy S.A.		141
	1,024,799		Terna Rete Elettrica Nazionale S.p.A.		4,981
	100,310	*	TerraForm Global, Inc		668
	109,815	e	TerraForm Power, Inc		1,562
	702,400	*	Thai Solar Energy PCL		103
	1,334,400		Thai Tap Water Supply PCL		401
	1,762,000	e	Tianjin Development Hldgs Ltd		1,090
	600,000	*	Tianjin Jinran Public Utilities Co Ltd		63
	517,007		Toho Gas Co Ltd		3,049
	1,310,975		Tohoku Electric Power Co, Inc		17,766
	1,826,619	*	Tokyo Electric Power Co, Inc		12,201
	3,126,813		Tokyo Gas Co Ltd		15,125
	210,121		Torrent Power Ltd		572
	1,035,000	e	Towngas China Co Ltd		636
	181,319		Tractebel Energia S.A.		1,544
	468,096	e	TransAlta Corp		2,175
	107,878	e	TransAlta Renewables, Inc		831
	133,821		Transmissora Alianca de Energia Eletrica S.A.		644
	843,179		UGI Corp		29,360
	147,769		UIL Holdings Corp		7,428
	466,628		United Utilities Group plc		6,540
	42,370		Unitil Corp		1,563
	36,464		VA Tech Wabag Ltd		370
	82,910	e	Valener, Inc		1,034
	25,000	e	Vanguard FTSE Developed Markets ETF		891
	322,044		Vectren Corp		13,529
	1,091,006		Veolia Environnement		24,882
	53,745	*,e	Vivint Solar, Inc		563
	2,008,560		VPC Specialty Lending Investments plc		3,130
	391,926		WEC Energy Group, Inc		20,466
	869,662		Westar Energy, Inc		33,430
	126,995		WGL Holdings, Inc		7,324
	3,157,292		Xcel Energy, Inc		111,800
	4,438		YESCO Co Ltd		151
	36,076	e	York Water Co		758

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,320,786		YTL Corp BHD	$	3,030
	1,331,964		YTL Power International BHD		488
	41,115		Zespol Elektrowni Patnow Adamow Konin S.A.		152
	151,987	*	Zorlu Enerji Elektrik Uretim AS		72
			TOTAL UTILITIES		3,302,318
			TOTAL COMMON STOCKS		109,195,363
			(Cost $110,191,030)
PURCHASED OPTIONS - 0.0%
ENERGY - 0.0%
	3,000		Exxon Mobil Corp		0	^
	8,000		Pioneer Natural Resources Co		2
	1,500		Pioneer Natural Resources Co		1
	8,000		Pioneer Natural Resources Co		2
			TOTAL ENERGY		5
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	1,000		Biogen, Inc		7
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		7
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	2,500		Apple, Inc		3
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		3
			TOTAL PURCHASED OPTIONS		15
			(Cost $25)
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	7,152,465		ITAUSA Investimentos Itau PR		12,881
			TOTAL BANKS		12,881
CAPITAL GOODS - 0.0%
	27,992		Villeroy & Boch AG		387
			TOTAL CAPITAL GOODS		387
DIVERSIFIED FINANCIALS - 0.0%
	300,000		Daishin Securities Co Ltd Pref 2		1,737
			TOTAL DIVERSIFIED FINANCIALS		1,737
REAL ESTATE - 0.0%
	8,497,223	*,m	Ayala Land, Inc (Preferred B)		18
			TOTAL REAL ESTATE		18
			TOTAL PREFERRED STOCKS		15,023
			(Cost $29,374)
RIGHTS / WARRANTS - 0.0%
BANKS - 0.0%
	394,407	e,m	Banco Popular Espanol S.A.		8
			TOTAL BANKS		8

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
CAPITAL GOODS - 0.0%
	140,800		Eastern & Oriental BHD	$	7
	142,943		KNM Group BHD		4
	113,950	m	LBS Bina Group BHD		5
	122,258		Matrix Concepts Holdings BHD		12
	30,914		PDG Realty S.A. Empreendimentos e Participacoes		0	^
	492,385		WHA Corp PCL		6
			TOTAL CAPITAL GOODS		34
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	177,025		Inter Far East Engineering		9
	181,428		WCT Holdings BHD		5
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		14
CONSUMER SERVICES - 0.0%
	167,219		Minor International PCL		14
			TOTAL CONSUMER SERVICES		14
DIVERSIFIED FINANCIALS - 0.0%
	329,480		AIRA Capital Co Ltd		4
	329,480		AIRA Capital Co Ltd		6
	340,754		Fosun International Ltd		0
	23,114	m	Mirae Asset Securities Co Ltd		101
	102,268		OSK Holdings BHD		7
	24,710		Tamburi Investment Partners S.p.A		17
			TOTAL DIVERSIFIED FINANCIALS		135
ENERGY - 0.0%
	64,082	e,m	Magnum Hunter Resources Corp		0
			TOTAL ENERGY		0
FOOD & STAPLES RETAILING - 0.0%
	135,947	m	Safeway Casa Ley		12
	135,947	m	Safeway PDC LLC		12
			TOTAL FOOD & STAPLES RETAILING		24
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	1,859		Adcock Ingram Holdings Ltd		1
	190,191		Community Health Systems, Inc		2
	3,323,852	m	Golden Meditech Holdings Ltd		450
	159,694	e	RHOEN-KLINIKUM AG.		3
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		456
INSURANCE - 0.0%
	32,167	m	Just Retirement Group plc		2
			TOTAL INSURANCE		2
MEDIA - 0.0%
	4,350	m	Workpoint Entertainment PCL		0	^
			TOTAL MEDIA		0	^

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	2,121	e	BioTime, Inc	$	2
	55,620	m	Forest Laboratories, Inc CVR		53
	21,958	m	Furiex Pharmaceuticals, Inc		215
	17,790	e,m	Omthera Pharmaceuticals, Inc		11
	228,016	e,m	Trius Therapeutics, Inc		30
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		311
REAL ESTATE - 0.0%
	4,761,352	m	BGP Holdings plc		0
	498,720	m	Globe Trade Centre S.A.		821
	145		Sansiri PCL		0	^
	38,266		WHA Corp PCL		12
			TOTAL REAL ESTATE		833
RETAILING - 0.0%
	44,629		Super Group Ltd		11
			TOTAL RETAILING		11
SOFTWARE & SERVICES - 0.0%
	141,205	m	Gerber Scientific, Inc		0
			TOTAL SOFTWARE & SERVICES		0
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	31,612		Inari Amertron BHD		10
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		10
TELECOMMUNICATION SERVICES - 0.0%
	51,955	m	Jay Mart PCL		0
	196,024	m	Leap Wireless International, Inc		494
			TOTAL TELECOMMUNICATION SERVICES		494
TRANSPORTATION - 0.0%
	338,662		AirAsia X BHD		4
	17,065		Precious Shipping PCL		1
	2		Thoresen Thai Agencies PCL		0	^
			TOTAL TRANSPORTATION		5
			TOTAL RIGHTS / WARRANTS		2,351
			(Cost $1,778)

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 5.0%
GOVERNMENT AGENCY DEBT - 0.5%
$	25,000,000	d	Federal Home Loan Bank (FHLB)		0.080	%	10/01/15	25,000
	24,000,000	d	FHLB		0.120		10/21/15	24,000
	20,000,000	d	FHLB		0.135		10/22/15	20,000
	100,000,000	d	FHLB		0.120-0.130		10/23/15	99,998
	40,000,000		FHLB		0.060		10/28/15	39,999
	33,850,000		FHLB		0.065		10/29/15	33,849
	46,000,000	d	FHLB		0.140		10/30/15	45,999
	5,000,000		FHLB		0.100		11/18/15	5,000

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	20,000,000		FHLB		0.050	%	11/20/15	$	19,998
	15,000,000		FHLB		0.079		11/25/15		14,998
	50,000,000		FHLB		0.070		12/03/15		49,990
	27,000,000		FHLB		0.089		12/04/15		26,995
	24,800,000		FHLB		0.070		12/07/15		24,795
	49,000,000		FHLB		0.080		12/16/15		48,989
	25,000,000	d	FHLB		0.170		01/25/16		24,989
	20,500,000	d	Federal Home Loan Mortgage Corp (FHLMC)		0.080		11/04/15		20,499
	50,000,000		FHLMC		0.150		01/15/16		49,981
			TOTAL GOVERNMENT AGENCY DEBT						575,079
TREASURY DEBT - 0.1%
	1,000,000		United States Treasury Bill		0.092		10/08/15		1,000
	3,000,000	d	United States Treasury Bill		0.100		10/15/15		3,000
	5,000,000		United States Treasury Bill		0.115		01/14/16		5,000
	50,000,000		United States Treasury Note		0.250		04/15/16		50,014
			TOTAL TREASURY DEBT						59,014
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 4.4%
CERTIFICATE OF DEPOSIT - 0.2%
	260,000,000		CIBC Bank and Trust Company		0.020		10/01/15		260,000
			TOTAL CERTIFICATE OF DEPOSIT						260,000
REPURCHASE AGREEMENT - 4.0%
	65,000,000	o	Barclays		0.060		10/01/15		65,000
	200,000,000	p	Barclays		0.100		10/01/15		200,000
	75,000,000	q	Barclays		0.060		10/06/15		75,000
	200,000,000	r	Barclays		0.010		10/07/15		200,000
	40,000,000	s	BNP		0.060		10/01/15		40,000
	176,000,000	t	BNP		0.080		10/01/15		176,000
	103,000,000	u	Calyon		0.100		10/01/15		103,000
	26,000,000	v	Calyon		0.120		10/01/15		26,000
	250,000,000	w	Calyon		0.100		10/07/15		250,000
	57,000,000	x	Citigroup		0.100		10/01/15		57,000
	100,000,000	y	Citigroup		0.070		10/02/15		100,000
	200,000,000	z	Citigroup		0.080		10/02/15		200,000
	300,000,000	aa	Goldman Sachs		0.020		10/01/15		300,000
	500,000,000	ab	Goldman Sachs		0.080		10/01/15		500,000
	100,000,000	ac	Goldman Sachs		0.060		10/05/15		100,000
	331,000,000	ad	Morgan Stanley		0.100		10/01/15		331,000
	407,000,000	ae	Morgan Stanley		0.110		10/01/15		407,000
	775,000,000	af	Nomura Securities		0.140		10/01/15		775,000
	550,000,000	ag	Royal Bank of Scotland		0.080		10/06/15		550,000
			TOTAL REPURCHASE AGREEMENT						4,455,000
VARIABLE RATE SECURITIES - 0.2%
	4,744,533	i	Granite Master Issuer plc 2006		0.031		12/20/50		4,722
	3,751,491	i	Granite Master Issuer plc 2007		0.020		12/20/50		3,731
	5,142,800	i	Puma Finance Ltd		0.027		02/21/38		5,093
	170,000,000	i	SLM Student Loan Trust 2007		0.118		01/25/19		168,685
			TOTAL VARIABLE RATE SECURITIES						182,231
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						4,897,231

187

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

	VALUE
	(000)
TOTAL SHORT-TERM INVESTMENTS	$	5,531,324
(Cost $5,532,384)
TOTAL INVESTMENTS - 104.3%		114,745,426
(Cost $115,756,013)
OTHER ASSETS & LIABILITIES, NET - (4.3)%		(4,716,339	)
NET ASSETS - 100.0%	$	110,029,087

	Abbreviation(s):
ADR	American Depositary Receipt
BRL	Brazilian Real
ETF	Exchange Traded Fund
GDR	Global Depositary Receipt
INR	Indian Rupee
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
d	All or a portion of these securities have been segregated to cover margin 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 $4,827,906,000.
g	Security is 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 9/30/15 the aggregate value of these securities was $191,242,000, or 0.2% 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	All or a portion of these securities have been segregated by the custodian to cover margin requirements on open written contracts.
o	Agreement with Barclays, 0.06% dated 9/30/15 to be repurchased at $65,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $66,300,000.
p	Agreement with Barclays, 0.10% dated 9/30/15 to be repurchased at $200,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $204,700,000.
q	Agreement with Barclays, 0.06% dated 9/30/15 to be repurchased at $75,000,000 on 10/6/15, collateralized by U.S. Government Agency Securities valued at $76,500,000.
r	Agreement with Barclays, 0.01% dated 9/30/15 to be repurchased at $200,000,000 on 10/7/15, collateralized by U.S. Government Agency Securities valued at $204,000,000.
s	Agreement with BNP, 0.06% dated 9/30/15 to be repurchased at $40,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $40,800,000.
t	Agreement with BNP, 0.08% dated 9/30/15 to be repurchased at $176,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $179,520,000.
u	Agreement with Calyon 0.10% dated 9/30/15 to be repurchased at $103,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $105,060,000.
v	Agreement with Calyon 0.12% dated 9/30/15 to be repurchased at $26,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $26,520,000.
w	Agreement with Calyon 0.10% dated 9/30/15 to be repurchased at $250,000,000 on 10/7/15, collateralized by U.S. Government Agency Securities valued at $255,000,000.
x	Agreement with Citigroup, 0.10% dated 9/30/15 to be repurchased at $57,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $58,140,000.
y	Agreement with Citigroup, 0.07% dated 9/30/15 to be repurchased at $100,000,000 on 10/2/15, collateralized by U.S. Government Agency Securities valued at $102,000,000.

188

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

z	Agreement with Citigroup, 0.08% dated 9/30/15 to be repurchased at $200,000,000 on 10/2/15, collateralized by U.S. Government Agency Securities valued at $204,000,000.
aa	Agreement with Goldman Sachs, 0.02% dated 9/30/15 to be repurchased at $300,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $306,000,000.
ab	Agreement with Goldman Sachs, 0.08% dated 9/30/15 to be repurchased at $500,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $510,000,000.
ac	Agreement with Goldman Sachs, 0.06% dated 9/30/15 to be repurchased at $100,000,000 on 10/5/15, collateralized by U.S. Government Agency Securities valued at $102,000,000.
ad	Agreement with Morgan Stanley, 0.10% dated 9/30/15 to be repurchased at $331,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $337,620,000.
ae	Agreement with Morgan Stanley, 0.11% dated 9/30/15 to be repurchased at $407,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $415,140,000.
af	Agreement with Nomura Securities, 0.14% dated 9/30/15 to be repurchased at $775,000,000 on 10/1/15, collateralized by U.S. Government Agency Securities valued at $790,500,000.
ag	Agreement with Royal Bank of Scotland, 0.08% dated 9/30/15 to be repurchased at $550,000,000 on 10/6/15, collateralized by U.S. Government Agency Securities valued at $561,005,000.
	Cost amounts are in thousands.

189

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)

September 30, 2015

	Value		% of total
Country	(000)		portfolio
DOMESTIC
UNITED STATES	$	80,141,352		70.2	%
TOTAL DOMESTIC		80,141,352		70.2
FOREIGN
AUSTRALIA		1,303,791		1.1
AUSTRIA		137,141		0.1
BAHAMAS		3,402		0.0
BELGIUM		228,540		0.2
BERMUDA		108,762		0.1
BRAZIL		400,287		0.3
CANADA		2,102,796		1.8
CAYMAN ISLANDS		1,081		0.0
CHILE		87,954		0.1
CHINA		1,691,477		1.5
COLOMBIA		30,257		0.0
CYPRUS		68		0.0
CZECH REPUBLIC		14,642		0.0
DENMARK		480,842		0.4
EGYPT		23,847		0.0
FAROE ISLANDS		3,916		0.0
FINLAND		242,385		0.2
FRANCE		2,431,445		2.1
GEORGIA		3,099		0.0
GERMANY		1,966,219		1.7
GIBRALTAR		1,292		0.0
GREECE		20,753		0.0
GUERNSEY, C.I.		445		0.0
HONG KONG		905,811		0.8
HUNGARY		19,602		0.0
INDIA		746,716		0.7
INDONESIA		141,899		0.1
IRELAND		515,164		0.4
ISLE OF MAN		2,984		0.0
ISRAEL		255,340		0.2
ITALY		607,975		0.5
JAPAN		5,540,425		4.8
JERSEY, C.I.		10,132		0.0
JORDAN		13,427		0.0
KOREA, REPUBLIC OF		1,163,636		1.0
LUXEMBOURG		77,981		0.1
MACAU		3,364		0.0
MALAYSIA		206,597		0.2
MALTA		6,261		0.0
MEXICO		341,592		0.3
MONACO		9,456		0.0
NETHERLANDS		959,601		0.8
NEW ZEALAND		99,631		0.1
NORWAY		205,987		0.2

190

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

	Value		% of total
Country	(000)		portfolio
PAKISTAN	$	2,876		0.0	%
PANAMA		5,748		0.0
PERU		44,803		0.0
PHILIPPINES		134,022		0.1
POLAND		101,587		0.1
PORTUGAL		60,987		0.1
PUERTO RICO		12,579		0.0
QATAR		53,888		0.0
ROMANIA		1,701		0.0
RUSSIA		239,307		0.2
SINGAPORE		417,906		0.4
SOUTH AFRICA		544,839		0.5
SPAIN		499,517		0.4
SRI LANKA		1,266		0.0
SWEDEN		730,191		0.6
SWITZERLAND		2,177,058		1.9
TAIWAN		963,446		0.8
THAILAND		174,085		0.2
TURKEY		109,921		0.1
UKRAINE		1,575		0.0
UNITED ARAB EMIRATES		70,981		0.1
UNITED KINGDOM		5,135,904		4.5
VIETNAM		1,374		0.0
VIRGIN ISLANDS, BRITISH		427		0.0
VIRGIN ISLANDS, U.S.		64		0.0
TOTAL FOREIGN		34,604,074		29.8
TOTAL PORTFOLIO	$	114,745,426		100.0	%

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2015

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 98.8%
AUSTRALIA - 1.5%
	150,780		AGL Energy Ltd	$	1,697
	824,460		Alumina Ltd		656
	443,397		Amcor Ltd		4,123
	899,065		AMP Ltd		3,531
	106,855		APA Group		645
	52,029		Aristocrat Leisure Ltd		316
	321,889	e	Arrium Ltd		20
	213,135		Asciano Group		1,262
	167,301		AusNet Services		161
	1,351,468		Australia & New Zealand Banking Group Ltd		25,821
	49,484		Australian Stock Exchange Ltd		1,321
	37,200		Bank of Queensland Ltd		304
	43,188		Bendigo Bank Ltd		302
	2,201,289		BHP Billiton Ltd		34,768
	883,939		BHP Billiton plc		13,455
	126,480		BlueScope Steel Ltd		322
	75,974		Boral Ltd		283
	368,094		Brambles Ltd		2,529
	226,123		Caltex Australia Ltd		4,992
	43,015		CIMIC Group Ltd		715
	160,036		Coca-Cola Amatil Ltd		1,014
	5,563		Cochlear Ltd		327
	530,345	*	Commonwealth Bank of Australia		27,222
	130,448		Computershare Ltd		974
	35,247		Crown Ltd		246
	126,957		CSL Ltd		7,990
	92,781		Dexus Property Group		468
	71,877		DuluxGroup Ltd		271
	5,824,188		Echo Entertainment Group Ltd		19,929
	325,585		Federation Centres		629
	5,218	e	Flight Centre Ltd		133
	158,029	e	Fortescue Metals Group Ltd		204
	174,090		GPT Group (ASE)		553
	51,808	e	Harvey Norman Holdings Ltd		142
	106,699		Healthscope Ltd		192
	40,774		Iluka Resources Ltd		179
	263,866		Incitec Pivot Ltd		727
	574,112		Insurance Australia Group Ltd		1,963
	172,549		Lend Lease Corp Ltd		1,528
	171,672		Macquarie Goodman Group		710
	71,853		Macquarie Group Ltd		3,894
	264,147		Medibank Pvt Ltd		450
	1,037,641		Mirvac Group		1,260
	837,047		National Australia Bank Ltd		17,714
	459,167	*	Newcrest Mining Ltd		4,132

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	103,007	e	Orica Ltd	$	1,093
	333,296	m	Origin Energy Ltd		1,458
	328,034		Orora Ltd		535
	72,671		Oxiana Ltd		171
	21,633		Platinum Asset Mangement Ltd		103
	2,850,093	*	Qantas Airways Ltd		7,483
	431,660		QBE Insurance Group Ltd		3,931
	206,728		QR National Ltd		730
	13,499		Ramsay Health Care Ltd		557
	5,103		REA Group Ltd		160
	43,305		Recall Holdings Ltd		223
	264,555	e	Santos Ltd		749
	1,281,525		Scentre Group		3,527
	31,631	e	Seek Ltd		268
	41,209		Shopping Centres Australasia Property Group		57
	36,626		Sonic Healthcare Ltd		471
	1,178,086	*	South32 Ltd		1,139
	739,493		Stockland Trust Group		2,009
	408,633		Suncorp-Metway Ltd		3,515
	176,576		Sydney Airport		742
	78,567		Tabcorp Holdings Ltd		259
	139,470		Tattersall’s Ltd		370
	1,408,374		Telstra Corp Ltd		5,568
	27,765		TPG Telecom Ltd		213
	382,862		Transurban Group		2,682
	63,451		Treasury Wine Estates Ltd		294
	333,561		Wesfarmers Ltd		9,221
	789,811		Westfield Corp		5,558
	996,052		Westpac Banking Corp		20,924
	199,334		Woodside Petroleum Ltd		4,080
	321,606		Woolworths Ltd		5,637
	34,323	e	WorleyParsons Ltd		144
			TOTAL AUSTRALIA		273,945
AUSTRIA - 0.1%
	3,884		Andritz AG.		175
	13,072	*	Erste Bank der Oesterreichischen Sparkassen AG.		380
	65,989	*,m	Immoeast AG.		0	^
	7,118		OMV AG.		173
	5,871	*	Raiffeisen International Bank Holding AG.		77
	5,081		Voestalpine AG.		175
	1,000,000		Wienerberger AG.		17,621
			TOTAL AUSTRIA		18,601
BELGIUM - 0.1%
	9,227		Ageas		379
	37,516		Anheuser-Busch InBev NV		3,990
	31,925	*,m	Anheuser-Busch InBev NV (Strip VVPR)		0	^
	7,296		Belgacom S.A.		252
	3,192	e	Colruyt S.A.		154
	4,783		Delhaize Group		424

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	652,086		Fagron NV	$	12,432
	3,930		Groupe Bruxelles Lambert S.A.		297
	11,537		KBC Groep NV		730
	2,773	e	Solvay S.A.		283
	2,257	*	Telenet Group Holding NV		130
	47,259		UCB S.A.		3,702
	4,883		Umicore		188
			TOTAL BELGIUM		22,961
BERMUDA - 0.1%
	2,128,544		Marvell Technology Group Ltd		19,263
	20,216		PartnerRe Ltd		2,808
	14,272		RenaissanceRe Holdings Ltd		1,517
			TOTAL BERMUDA		23,588
BRAZIL - 0.1%
	808,060		Banco Itau Holding Financeira S.A.		5,403
	1,600,000		BM&F Bovespa S.A.		4,472
	450,000		Itau Unibanco Banco Multiplo S.A. (ADR)		2,979
			TOTAL BRAZIL		12,854
CANADA - 3.1%
	22,284		Agnico-Eagle Mines Ltd		565
	30,307	e	Agrium, Inc		2,716
	777,907		Alimentation Couche Tard, Inc		35,774
	15,029	e	AltaGas Income Trust		370
	130,972	e	ARC Resources Ltd		1,731
	36,366		Atco Ltd		1,068
	210,675		Bank of Montreal		11,490
	382,537		Bank of Nova Scotia		16,864
	507,207		Barrick Gold Corp (Canada)		3,227
	222,320	e	Baytex Energy Trust		711
	160,778	e	BCE, Inc		6,580
	51,950	*	Blackberry Ltd (New)		319
	195,824		Bombardier, Inc		245
	222,268		Brookfield Asset Management, Inc		6,994
	107,208		CAE, Inc		1,136
	43,706	e	Cameco Corp (Toronto)		533
	131,746	e	Canadian Imperial Bank of Commerce/Canada		9,466
	255,325		Canadian National Railway Co		14,499
	374,843		Canadian Natural Resources Ltd (Canada)		7,300
	50,782		Canadian Oil Sands Trust		240
	136,653		Canadian Pacific Railway Ltd		19,619
	106,413		Canadian Pacific Railway Ltd (Toronto)		15,273
	67,079		Canadian Tire Corp Ltd		6,034
	12,880		Canadian Utilities Ltd		348
	190,617	e	Cara Operations Ltd		4,746
	390,000	*	Celestica, Inc		5,021
	1,092,314		Cenovus Energy, Inc		16,559
	167,260		Cenovus Energy, Inc (Toronto)		2,537
	92,297	*	CGI Group, Inc		3,344
	25,853		CI Financial Corp		587

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	3,302		Constellation Software, Inc	$	1,384
	64,884	e	Crescent Point Energy Corp		742
	577,488		Dollarama, Inc		39,003
	412,265		Eldorado Gold Corp		1,322
	350,000	*	Element Financial Corp		4,779
	18,912	*	Empire Co Ltd		389
	226,553		Enbridge, Inc		8,412
	107,793		EnCana Corp		694
	149,481	e	Enerplus Resources Fund		728
	4,142		Fairfax Financial Holdings Ltd		1,886
	112,367		Finning International, Inc		1,649
	13,109		First Capital Realty, Inc		184
	141,606	e	First Quantum Minerals Ltd		519
	69,756		Fortis, Inc		1,995
	71,041	e	Franco-Nevada Corp		3,131
	55,353		George Weston Ltd		4,478
	253,571		Gildan Activewear, Inc		7,654
	305,150		Goldcorp, Inc		3,826
	121,879		Great-West Lifeco, Inc		2,920
	77,972		H&R Real Estate Investment Trust		1,202
	37,790	e	Husky Energy, Inc		589
	54,208	e	IGM Financial, Inc		1,375
	343,800	*,e	Imax Corp		11,617
	120,555		Imperial Oil Ltd		3,819
	44,746		Industrial Alliance Insurance and Financial Services, Inc		1,335
	24,474		Intact Financial Corp		1,719
	153,234	e	Inter Pipeline Ltd		2,827
	8,154		Jean Coutu Group PJC, Inc		123
	125,828	e	Keyera Corp		3,465
	536,405	*	Kinross Gold Corp		933
	130,000		Linamar Corp		6,814
	47,178		Loblaw Cos Ltd		2,429
	142,191		Magna International, Inc (Class A)		6,820
	160,000		Magna International, Inc (Class A) (NY)		7,682
	517,488	e	Manulife Financial Corp		8,004
	126,782	*	MEG Energy Corp		783
	9,553		Methanex Corp		317
	352,779		Metro, Inc		9,612
	129,022		National Bank of Canada		4,119
	13,791		Onex Corp		796
	178,139		Open Text Corp		7,977
	7,093	*,e	Paramount Resources Ltd (Class A)		52
	86,776	e	Pembina Pipeline Income Fund		2,088
	80,728	e	Peyto Exploration & Development Corp		1,679
	286,742		Potash Corp of Saskatchewan		5,894
	157,923		Power Corp Of Canada		3,274
	105,723	e	Power Financial Corp		2,424
	88,360	e	PrairieSky Royalty Ltd		1,679
	1,599		Restaurant Brands International LP		56
	123,400		Restaurant Brands International, Inc		4,433
	33,762	e	Restaurant Brands International, Inc (Toronto)		1,215
	87,705		RioCan Real Estate Investment Trust		1,674

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	76,881		Rogers Communications, Inc (Class B)	$	2,649
	582,381	e	Royal Bank of Canada (Toronto)		32,202
	113,369		Saputo, Inc		2,489
	66,520	e	Shaw Communications, Inc (B Shares)		1,288
	41,577		Silver Wheaton Corp		500
	15,973	e	SNC-Lavalin Group, Inc		455
	247,683	*,g	Spin Master Corp		3,851
	149,626	e	Sun Life Financial, Inc		4,826
	927,337		Suncor Energy, Inc		24,801
	58,994		Teck Cominco Ltd		282
	91,746		TELUS Corp		2,891
	1,268,113		Toronto-Dominion Bank		49,983
	386,224	*	Tourmaline Oil Corp		8,992
	164,866	e	TransAlta Corp		766
	415,702	e	TransCanada Corp		13,145
	162,941	e	TransForce, Inc		2,917
	226,713	*	Turquoise Hill Resources Ltd		579
	143,288	e	Veresen, Inc		1,095
	11,323	e	Vermilion Energy, Inc		365
	7,094		West Fraser Timber Co Ltd		225
	180,000		Westjet Airlines Ltd		3,199
	563,215	e	Yamana Gold, Inc		950
			TOTAL CANADA		548,866
CHILE - 0.0%
	20,045	e	Antofagasta plc		152
			TOTAL CHILE		152
CHINA - 0.4%
	82,291	*	Alibaba Group Holding Ltd (ADR)		4,853
	7,916,942	g	CGN Power Co Ltd		3,312
	9,579,000	*,e,m	China Animal Healthcare Ltd		12
	1,122,000		China Aoyuan Property Group Ltd		211
	6,401,000	*	China Eastern Airlines Corp Ltd (H Shares)		3,823
	7,346,800		China Everbright International Ltd		10,321
	1,300,255	*	China New Town Development Co Ltd		49
	950,000		China Overseas Land & Investment Ltd		2,888
	6,296,600		China Southern Airlines Co Ltd		4,614
	1,849,100	e	China Vanke Co Ltd		3,972
	203,000		CNOOC Ltd		209
	137,700	g	Dalian Wanda Commercial Properties Co Ltd		794
	4,350,000		Great Wall Motor Co Ltd		4,854
	12,000,000		Huadian Fuxin Energy Corp Ltd		4,153
	7,000,000		Huadian Power International Co		5,492
	16,910,000		Huaneng Renewables Corp Ltd		6,269
	84,259	*	JD.com, Inc (ADR)		2,196
	16,500,000	m	Sihuan Pharmaceutical Holdings		4,676
	2,397,612		Sino-Ocean Land Holdings Ltd		1,312
	947,600		Tencent Holdings Ltd		15,973
	181,149		Yangzijiang Shipbuilding		145
			TOTAL CHINA		80,128

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
DENMARK - 0.8%
	175		AP Moller - Maersk AS (Class A)	$	264
	329		AP Moller - Maersk AS (Class B)		507
	5,044		Carlsberg AS (Class B)		388
	5,168		Coloplast AS		366
	484,762		Danske Bank AS		14,650
	8,412		DSV AS		314
	1,024,687	*,e	H Lundbeck AS		27,320
	6,911		ISS A.S.		230
	1,358,066		Novo Nordisk AS		73,287
	78,195		Novozymes AS		3,413
	105,164		Pandora AS		12,285
	180,000		Sydbank AS		6,851
	36,420		TDC AS		188
	300,000	*	Topdanmark AS		8,523
	5,425		Tryg A.S.		105
	10,373		Vestas Wind Systems AS		539
	1,053	*	William Demant Holding		87
			TOTAL DENMARK		149,317
FINLAND - 0.5%
	6,425		Elisa Oyj (Series A)		217
	20,841		Fortum Oyj		308
	352,600		Huhtamaki Oyj		10,775
	50,000		Kesko Oyj (B Shares)		1,771
	15,529	e	Kone Oyj (Class B)		591
	5,486	e	Metso Oyj		114
	255,852		Neste Oil Oyj		5,889
	2,832,655		Nokia Oyj		19,369
	69,937		Nokian Renkaat Oyj		2,264
	4,398		Orion Oyj (Class B)		167
	863,118		Sampo Oyj (A Shares)		41,772
	27,068		Stora Enso Oyj (R Shares)		205
	25,123		UPM-Kymmene Oyj		377
	6,947		Wartsila Oyj (B Shares)		276
			TOTAL FINLAND		84,095
FRANCE - 3.3%
	578,496		Accor S.A.		27,124
	1,426		Aeroports de Paris		162
	15,906		Air Liquide		1,886
	132,346	*	Alcatel S.A.		488
	10,090	*,e	Alstom RGPT		312
	3,252		Arkema		211
	3,852		Atos Origin S.A.		296
	91,516		AXA S.A.		2,222
	338,135		BNP Paribas		19,907
	38,879		Bollore		190
	84,571		Bouygues S.A.		3,001
	12,375		Bureau Veritas S.A.		261
	7,242		Cap Gemini S.A.		647
	25,769		Carrefour S.A.		764

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	2,741		Casino Guichard Perrachon S.A.	$	146
	1	*	CGG (ADR)		0	^
	2,575		Christian Dior S.A.		482
	8,108		CNP Assurances		113
	796,549		Compagnie de Saint-Gobain		34,571
	3,171,549		Credit Agricole S.A.		36,513
	247,601		Dassault Systemes S.A.		18,299
	791,826		Edenred		12,966
	11,833		Electricite de France		209
	9,432		Essilor International S.A.		1,152
	1,871		Eurazeo		125
	251,899		European Aeronautic Defence and Space Co		14,917
	8,362		Eutelsat Communications		256
	506,229		Faurecia		15,788
	1,416		Fonciere Des Regions		123
	1,152,693		France Telecom S.A.		17,474
	291,574		Gaz de France		4,718
	1,559		Gecina S.A.		190
	26,963		Groupe Danone		1,702
	20,881		Groupe Eurotunnel S.A.		285
	1,212		Hermes International		441
	1,470		Icade		100
	1,233		Iliad S.A.		249
	1,704		Imerys S.A.		109
	2,528		Ingenico		306
	729,021		JC Decaux S.A.		26,501
	9,020		Klepierre		409
	5,876		Lagardere S.C.A.		163
	12,434		Legrand S.A.		662
	243,440		L’Oreal S.A.		42,313
	13,031		LVMH Moet Hennessy Louis Vuitton S.A.		2,218
	8,711		Michelin (C.G.D.E.) (Class B)		797
	41,040		Natixis		227
	4,499	*	Numericable SAS		208
	9,831		Pernod-Ricard S.A.		993
	20,114	*,e	Peugeot S.A.		305
	3,578		PPR		586
	8,707		Publicis Groupe S.A.		595
	75,000	e	Rallye S.A.		1,228
	1,146		Remy Cointreau S.A.		75
	299,558		Renault S.A.		21,614
	720,473		Rexel S.A.		8,869
	13,568		Safran S.A.		1,020
	378,178		Sanofi-Aventis		36,003
	80,792		Schneider Electric S.A.		4,524
	6,649		SCOR		239
	1,347		Societe BIC S.A.		209
	518,537		Societe Generale		23,174
	4,436		Sodexho Alliance S.A.		368
	274,174		Suez Environnement S.A.		4,927
	5,056		Technip S.A.		239
	314,852		Teleperformance		23,890

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	61,772		Thales S.A.	$	4,307
	2,063,355	e	Total S.A.		92,816
	28,587		Unibail-Rodamco		7,409
	237,892		Valeo S.A.		32,300
	20,967		Veolia Environnement		478
	407,231		Vinci S.A.		25,895
	53,511		Vivendi Universal S.A.		1,268
	1,388		Wendel		163
	9,284		Zodiac S.A.		213
			TOTAL FRANCE		585,910
GERMANY - 2.7%
	79,803		Adidas-Salomon AG.		6,434
	92,132		Allianz AG.		14,473
	1,856		Axel Springer AG.		104
	42,807		BASF SE		3,274
	520,669		Bayer AG.		66,801
	226,639		Bayerische Motoren Werke AG.		19,773
	2,738		Bayerische Motoren Werke AG. (Preference)		188
	635,909		Beiersdorf AG.		56,368
	7,216		Brenntag AG.		389
	1,110,872	*	Commerzbank AG.		11,733
	133,015		Continental AG.		28,410
	857,441		Daimler AG. (Registered)		62,424
	21,590		Deutsche Annington Immobilien SE		695
	189,345		Deutsche Bank AG.		5,110
	9,039		Deutsche Boerse AG.		779
	11,149	*	Deutsche Lufthansa AG.		155
	1,499,708		Deutsche Post AG.		41,546
	1,519,532		Deutsche Telekom AG.		27,050
	15,396		Deutsche Wohnen AG.		412
	65,000		Duerr AG.		4,573
	93,362		E.ON AG.		801
	6,366		Evonik Industries AG.		213
	2,007		Fraport AG. Frankfurt Airport Services Worldwide		124
	180,000		Freenet AG.		5,955
	100,289		Fresenius Medical Care AG.		7,838
	17,767		Fresenius SE		1,193
	3,051		Fuchs Petrolub AG. (Preference)		135
	8,709		GEA Group AG.		332
	72,835		Hannover Rueckversicherung AG.		7,461
	6,675		HeidelbergCement AG.		458
	4,737		Henkel KGaA		419
	8,395		Henkel KGaA (Preference)		865
	3,100		Hugo Boss AG.		349
	52,688		Infineon Technologies AG.		592
	9,144		K&S AG.		307
	1,013	*	Kabel Deutschland Holding AG.		132
	4,142		Lanxess AG.		194
	8,679		Linde AG.		1,410
	1,639		MAN AG.		167
	6,087		Merck KGaA		539

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	8,481		Metro AG.	$	235
	101,156	*	Morphosys AG.		6,745
	37,678		Muenchener Rueckver AG.		7,037
	3,932		Osram Licht AG.		204
	7,106		Porsche AG.		302
	536,134		ProSiebenSat. Media AG.		26,316
	22,134		RWE AG.		251
	45,861		SAP AG.		2,971
	260,139		Siemens AG.		23,240
	150,000		Software AG.		4,383
	5,735		Symrise AG.		345
	27,529		Telefonica Deutschland Holding AG.		168
	16,662		ThyssenKrupp AG.		293
	22,888		TUI AG. (DI)		423
	5,695		United Internet AG.		289
	959		Volkswagen AG.		113
	8,348		Volkswagen AG. (Preference)		917
	154,000		Wacker Chemie AG.		11,713
	300,046		Wirecard AG.		14,367
			TOTAL GERMANY		480,487
HONG KONG - 0.9%
	6,750,958		AIA Group Ltd		35,110
	22,518	e	ASM Pacific Technology		148
	113,053		Bank of East Asia Ltd		380
	1,011,853		BOC Hong Kong Holdings Ltd		2,984
	112,431		Cathay Pacific Airways Ltd		212
	58,723	e	Cheung Kong Infrastructure Holdings Ltd		526
	807,543	*	Cheung Kong Property Holdings Ltd		5,916
	5,122,000		China Gas Holdings Ltd		7,065
	625,000		Chow Sang Sang Holding		1,251
	805,543	*	CK Hutchison Holdings Ltd		10,478
	513,954		CLP Holdings Ltd		4,394
	1,370,331	e	Esprit Holdings Ltd		1,021
	225,463		First Pacific Co		138
	226,803		Galaxy Entertainment Group Ltd		581
	1,063,434	*	Global Brands Group Holding Ltd		220
	209,000	*	Glorious Property Holdings Ltd		24
	777,517		Hang Lung Group Ltd		2,647
	2,360,803		Hang Lung Properties Ltd		5,310
	365,972		Hang Seng Bank Ltd		6,602
	447,198		Henderson Land Development Co Ltd		2,674
	257,660		HKT Trust and HKT Ltd		306
	2,254,066		Hong Kong & China Gas Ltd		4,227
	303,776		Hong Kong Electric Holdings Ltd		2,875
	182,724		Hong Kong Exchanges and Clearing Ltd		4,192
	61,760		Hysan Development Co Ltd		257
	1,524,448		Kerry Properties Ltd		4,186
	1,633,027		Li & Fung Ltd		1,251
	223,968		Link REIT		1,233
	459,919		MTR Corp		2,000
	1,651,913		New World Development Co Ltd		1,609

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	446,202	e	Noble Group Ltd	$	131
	147,328		NWS Holdings Ltd		194
	396,040		PCCW Ltd		204
	1,131,333		Sands China Ltd		3,436
	2,770,286	*,m	Shanghai Real Estate Ltd		137
	113,992		Shangri-La Asia Ltd		99
	2,242,000		Shimao Property Holdings Ltd		3,388
	292,542		Sino Land Co		445
	192,611	e	SJM Holdings Ltd		137
	1,142,642		Sun Hung Kai Properties Ltd		14,904
	152,128		Swire Pacific Ltd (Class A)		1,705
	1,810,200		Swire Properties Ltd		5,017
	130,402		Techtronic Industries Co		486
	571,500	*,g	WH Group Ltd		284
	2,569,701		Wharf Holdings Ltd		14,499
	89,334		Wheelock & Co Ltd		388
	70,912		Yue Yuen Industrial Holdings		264
			TOTAL HONG KONG		155,535
INDIA - 0.5%
	200,000		Axis Bank Ltd		1,517
	1,650,000		Bank of Baroda		4,645
	3	*	Bharti Infratel Ltd		0	^
	180,000		Cadila Healthcare Ltd		5,740
	133,600		Container Corp Of India Ltd		3,025
	322,531	*	DEN Networks Ltd		596
	3,893,510	*	DLF Ltd		8,186
	110,200		Dr Reddy’s Laboratories Ltd		7,008
	450,000		HDFC Bank Ltd		7,351
	350,000	*	Hindustan Petroleum Corp Ltd		4,127
	332,666		Housing Development Finance Corp		6,164
	450,000		ICICI Bank Ltd (ADR)		3,771
	283,431	*	Jyothy Laboratories Ltd		1,375
	99,896	*	LIC Housing Finance Ltd		717
	210,000		Lupin Ltd		6,520
	100,756	*,e	MakeMyTrip Ltd		1,385
	90,834		Prestige Estates Projects Ltd		299
	1,113,028	*	Puravankara Projects Ltd		1,054
	111,069		Reliance Industries Ltd		1,462
	154,738		Shriram Transport Finance Co Ltd		2,187
	400,000		Sun Pharmaceutical Industries Ltd		5,293
	813,513	*	Sunteck Realty Ltd		2,747
	1,371,559	*	Tata Motors Ltd		4,535
	26,406,156	*	Unitech Ltd		2,486
			TOTAL INDIA		82,190
IRELAND - 1.2%
	1,282,674	*	Bank of Ireland		502
	1,609,790		CRH plc		42,495
	45,613		Experian Group Ltd		732
	3,002,262		Green REIT plc		4,992
	6,470,177		Hibernia REIT plc		9,167

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	147,992	*,m	Irish Bank Resolution Corp Ltd	$	0	^
	43,577		James Hardie Industries NV		526
	326,833		Kerry Group plc (Class A)		24,588
	6,302		Ryanair Holdings plc		92
	446,715		Ryanair Holdings plc (ADR)		34,978
	404,790		Shire Ltd		27,672
	977,088		Smurfit Kappa Group plc		26,325
	1,151,023		XL Capital Ltd		41,805
			TOTAL IRELAND		213,874
ISRAEL - 0.2%
	1,547		Azrieli Group		62
	50,921		Bank Hapoalim Ltd		256
	66,800	*	Bank Leumi Le-Israel		249
	92,814		Bezeq Israeli Telecommunication Corp Ltd		178
	36,870	*,e	Check Point Software Technologies		2,925
	169		Delek Group Ltd		37
	21,918		Israel Chemicals Ltd		113
	133		Israel Corp Ltd		32
	7,112		Mizrahi Tefahot Bank Ltd		84
	2,515		Nice Systems Ltd		141
	40,207		Teva Pharmaceutical Industries Ltd		2,272
	367,146		Teva Pharmaceutical Industries Ltd (ADR)		20,729
			TOTAL ISRAEL		27,078
ITALY - 1.1%
	4,000,000		A2A S.p.A.		4,966
	55,201		Assicurazioni Generali S.p.A.		1,010
	18,978		Autostrade S.p.A.		531
	11,405,498		Banca Intesa S.p.A.		40,292
	45,806		Banca Intesa S.p.A. RSP		148
	119,898	*	Banca Monte dei Paschi di Siena S.p.A		214
	41,789	e	Banche Popolari Unite Scpa		297
	16,988	*	Banco Popolare SC		251
	86,556		Enel Green Power S.p.A		164
	4,085,535		Enel S.p.A.		18,230
	679,315	e	ENI S.p.A.		10,686
	114,878		Exor S.p.A.		5,008
	19,445	*	Finmeccanica S.p.A.		243
	58,164		Fondiaria-Sai S.p.A		126
	286,454		Luxottica Group S.p.A.		19,853
	2,184,673		Mediaset S.p.A.		10,057
	5,342,674		Mediobanca S.p.A.		52,565
	600,000		Mediolanum S.p.A.		4,286
	859,520		Moncler S.p.A		15,392
	765,600	*,g	OVS S.p.A		5,227
	12,180		Pirelli & C S.p.A.		204
	8,700		Prysmian S.p.A.		180
	11,149	*,e	Saipem S.p.A.		89
	97,142		Snam Rete Gas S.p.A.		499
	274,332		Telecom Italia RSP		281
	533,088	*,e	Telecom Italia S.p.A.		657

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	68,405		Terna Rete Elettrica Nazionale S.p.A.	$	332
	223,279		UniCredit S.p.A		1,392
	304,209	*	Yoox S.p.A		9,159
			TOTAL ITALY		202,339
JAPAN - 8.1%
	2,700		ABC-Mart, Inc		151
	45,100	*,e	Acom Co Ltd		231
	600		Activia Properties Inc		2,510
	1,490		Advance Residence Investment Corp		3,143
	68,909		Aeon Co Ltd		1,069
	11,603	e	AEON Financial Service Co Ltd		230
	12,160		Aeon Mall Co Ltd		187
	17,000		Air Water, Inc		255
	202,642		Aisin Seiki Co Ltd		6,799
	59,529		Ajinomoto Co, Inc		1,255
	18,600		Alfresa Holdings Corp		318
	123,435		All Nippon Airways Co Ltd		346
	18,400		Alps Electric Co Ltd		520
	36,744		Amada Co Ltd		280
	2,637,848		Aozora Bank Ltd		9,149
	201,007		Asahi Breweries Ltd		6,521
	98,773		Asahi Glass Co Ltd		577
	393,134		Asahi Kasei Corp		2,772
	16,900		Asics Corp		403
	712,000		Astellas Pharma, Inc		9,216
	116,105		Bank of Kyoto Ltd		1,181
	393,971		Bank of Yokohama Ltd		2,395
	6,953	e	Benesse Corp		186
	536,104		Bridgestone Corp		18,552
	25,185		Brother Industries Ltd		304
	47,800		Calbee, Inc		1,547
	113,097		Canon, Inc		3,272
	21,833	e	Casio Computer Co Ltd		397
	49,500		Central Japan Railway Co		7,981
	262,323		Chiba Bank Ltd		1,863
	105,100	e	Chiyoda Corp		718
	208,366		Chubu Electric Power Co, Inc		3,072
	78,658		Chugai Pharmaceutical Co Ltd		2,416
	54,100		Chugoku Bank Ltd		803
	91,553		Chugoku Electric Power Co, Inc		1,262
	27,242		Citizen Watch Co Ltd		188
	5,700	e	COLOPL, Inc		92
	265,600	*	COOKPAD, Inc		5,607
	15,955		Credit Saison Co Ltd		290
	1,200		Crescendo Investment Corp		880
	816,800	*,e	CYBERDYNE, Inc		9,690
	56,076		Dai Nippon Printing Co Ltd		542
	31,130		Daicel Chemical Industries Ltd		382
	20,590	e	Daihatsu Motor Co Ltd		238
	939,300		Dai-ichi Mutual Life Insurance Co		14,953
	66,897	e	Daiichi Sankyo Co Ltd		1,161

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	80,346		Daikin Industries Ltd	$	4,506
	17,063	e	Dainippon Sumitomo Pharma Co Ltd		171
	17,511		Daito Trust Construction Co Ltd		1,779
	250,156		Daiwa House Industry Co Ltd		6,202
	488,300		Daiwa Securities Group, Inc		3,160
	676,600	e	Dena Co Ltd		12,557
	293,445		Denso Corp		12,430
	22,955		Dentsu, Inc		1,178
	462,500		Don Quijote Co Ltd		17,425
	221,152		East Japan Railway Co		18,636
	26,817		Eisai Co Ltd		1,582
	42,393		Electric Power Development Co		1,294
	6,144		FamilyMart Co Ltd		280
	38,443		Fanuc Ltd		5,914
	29,018		Fast Retailing Co Ltd		11,803
	1,207,822		Fuji Electric Holdings Co Ltd		4,380
	717,942		Fuji Heavy Industries Ltd		25,835
	557,084		Fujifilm Holdings Corp		20,825
	235,991		Fujitsu Ltd		1,027
	262,663		Fukuoka Financial Group, Inc		1,251
	159,400		GMO Payment Gateway, Inc		6,167
	49,000	e	GungHo Online Entertainment Inc		146
	128,879		Gunma Bank Ltd		825
	132,842		Hachijuni Bank Ltd		943
	24,200		Hakuhodo DY Holdings, Inc		229
	15,000		Hamamatsu Photonics KK		339
	122,000		Hankyu Hanshin Holdings, Inc		746
	700,000		Haseko Corp		7,930
	35,000	m	Higo Bank Ltd		256
	1,900		Hikari Tsushin, Inc		133
	86,882		Hino Motors Ltd		885
	3,200		Hirose Electric Co Ltd		348
	173,000		Hiroshima Bank Ltd		1,000
	6,167		Hisamitsu Pharmaceutical Co, Inc		206
	10,952		Hitachi Chemical Co Ltd		151
	12,322	e	Hitachi Construction Machinery Co Ltd		165
	22,800		Hitachi High-Technologies Corp		494
	6,808,285		Hitachi Ltd		34,355
	22,300		Hitachi Metals Ltd		259
	397,000		Hokuhoku Financial Group, Inc		909
	57,731		Hokuriku Electric Power Co		776
	551,596		Honda Motor Co Ltd		16,463
	67,000	e	House Foods Corp		1,133
	725,253		Hoya Corp		23,753
	158		Hulic Reit, Inc		209
	13,166		Ibiden Co Ltd		172
	1,552		Ichigo Real Estate Investment Corp		1,070
	9,500		Idemitsu Kosan Co Ltd		146
	15,500		Iida Group Holdings Co Ltd		242
	200		Industrial & Infrastructure Fund Investment Corp		870
	287,400		Infomart Corp		3,258
	100,600		Inpex Holdings, Inc		899

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	148,781		Isetan Mitsukoshi Holdings Ltd	$	2,232
	1,853,878		Ishikawajima-Harima Heavy Industries Co Ltd		4,764
	63,400		Isuzu Motors Ltd		637
	835,670		Itochu Corp		8,834
	24,800		Itochu Techno-Science Corp		529
	80,552		Iyo Bank Ltd		926
	280,100		J Front Retailing Co Ltd		4,537
	239,900		Japan Airlines Co Ltd		8,489
	4,500	e	Japan Airport Terminal Co Ltd		194
	91		Japan Prime Realty Investment Corp		296
	137		Japan Real Estate Investment Corp		631
	5,243		Japan Rental Housing Investments, Inc		3,424
	750		Japan Retail Fund Investment Corp		1,451
	455,100		Japan Tobacco, Inc		14,117
	53,004		JFE Holdings, Inc		696
	72,978		JGC Corp		968
	215,624		Joyo Bank Ltd		1,136
	20,153		JSR Corp		290
	421,603		JTEKT Corp		5,903
	685,980		JX Holdings, Inc		2,477
	500,000	*	kabu.com Securities Co Ltd		1,622
	89,372		Kajima Corp		474
	15,600		Kakaku.com, Inc		253
	208,252		Kamigumi Co Ltd		1,706
	28,900		Kaneka Corp		213
	234,774	*	Kansai Electric Power Co, Inc		2,610
	24,480		Kansai Paint Co Ltd		333
	53,253		Kao Corp		2,414
	551,212	e	Kawasaki Heavy Industries Ltd		1,903
	528,200		KDDI Corp		11,823
	54,000		Keihan Electric Railway Co Ltd		360
	163,622		Keihin Electric Express Railway Co Ltd		1,302
	200,910		Keio Corp		1,428
	29,426		Keisei Electric Railway Co Ltd		323
	1,838		Kenedix Realty Investment Corp		8,736
	12,551		Keyence Corp		5,605
	15,795		Kikkoman Corp		435
	376,914		Kintetsu Corp		1,354
	87,449		Kirin Brewery Co Ltd		1,147
	331,084		Kobe Steel Ltd		359
	10,800		Koito Manufacturing Co Ltd		353
	97,922		Komatsu Ltd		1,437
	9,973		Konami Corp		216
	49,113		Konica Minolta Holdings, Inc		517
	3,200		Kose Corp		292
	1,117,258		Kubota Corp		15,376
	36,374		Kuraray Co Ltd		453
	11,645		Kurita Water Industries Ltd		247
	33,900		Kyocera Corp		1,553
	25,045		Kyowa Hakko Kogyo Co Ltd		373
	135,484	*	Kyushu Electric Power Co, Inc		1,478
	6,851		Lawson, Inc		505

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	28,923		LIXIL Group Corp	$	589
	17,200		Mabuchi Motor Co Ltd		747
	100,000		Maeda Corp		730
	56,936		Makita Corp		3,029
	906,572		Marubeni Corp		4,442
	23,509		Marui Co Ltd		284
	4,896	e	Maruichi Steel Tube Ltd		111
	1,222,100		Matsui Securities Co Ltd		10,597
	613,255		Matsushita Electric Industrial Co Ltd		6,206
	712,600		Mazda Motor Corp		11,260
	6,800	e	McDonald’s Holdings Co Japan Ltd		153
	14,512		Mediceo Paltac Holdings Co Ltd		230
	12,898		MEIJI Holdings Co Ltd		946
	34,000		Minebea Co Ltd		361
	18,600		Miraca Holdings, Inc		789
	270,000	*	MISUMI Group, Inc		2,786
	444,319		Mitsubishi Chemical Holdings Corp		2,320
	355,795		Mitsubishi Corp		5,832
	892,814		Mitsubishi Electric Corp		8,179
	307,705		Mitsubishi Estate Co Ltd		6,286
	117,160		Mitsubishi Gas Chemical Co, Inc		541
	1,138,150		Mitsubishi Heavy Industries Ltd		5,090
	13,262	e	Mitsubishi Logistics Corp		154
	119,293		Mitsubishi Materials Corp		362
	67,800		Mitsubishi Motors Corp		519
	5,551,754		Mitsubishi UFJ Financial Group, Inc		33,545
	50,900		Mitsubishi UFJ Lease & Finance Co Ltd		224
	516,304		Mitsui & Co Ltd		5,803
	261,087		Mitsui Chemicals, Inc		837
	901,100		Mitsui Engineering & Shipbuilding Co Ltd		1,300
	984,437		Mitsui Fudosan Co Ltd		26,985
	120,499	e	Mitsui OSK Lines Ltd		289
	214,009		Mitsui Sumitomo Insurance Group Holdings, Inc		5,742
	1,740,918		Mitsui Trust Holdings, Inc		6,381
	4,700	e	Mixi Inc		161
	5,812,556		Mizuho Financial Group, Inc		10,873
	516,800		MonotaRO Co Ltd		11,839
	332,920		Murata Manufacturing Co Ltd		43,005
	13,000		Nabtesco Corp		238
	92,000		Nagoya Railroad Co Ltd		362
	18,706		Namco Bandai Holdings, Inc		434
	794,615		NEC Corp		2,446
	13,800		Nexon Co Ltd		184
	250,179		NGK Insulators Ltd		4,787
	18,888		NGK Spark Plug Co Ltd		434
	16,438		NHK Spring Co Ltd		159
	123,470		Nidec Corp		8,491
	36,281	e	Nikon Corp		439
	57,298		Nintendo Co Ltd		9,658
	467		Nippon Building Fund, Inc		2,260
	42,184		Nippon Electric Glass Co Ltd		204
	88,441		Nippon Express Co Ltd		423

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	18,944		Nippon Meat Packers, Inc	$	387
	15,800		Nippon Paint Co Ltd		276
	2,630		Nippon ProLogis REIT, Inc		4,772
	150,278		Nippon Steel Corp		2,738
	467,100	*	Nippon Telegraph & Telephone Corp		16,453
	542,308		Nippon Yusen Kabushiki Kaisha		1,257
	1,277,843		Nissan Motor Co Ltd		11,749
	22,600		Nisshin Seifun Group, Inc		329
	6,735		Nissin Food Products Co Ltd		310
	7,900		Nitori Co Ltd		619
	335,537		Nitto Denko Corp		20,096
	35,253		NKSJ Holdings, Inc		1,024
	10,551		NOK Corp		228
	5,232,463		Nomura Holdings, Inc		30,371
	13,474		Nomura Real Estate Holdings, Inc		271
	359	m	Nomura Real Estate Master Fund, Inc		457
	96,320		Nomura Research Institute Ltd		3,697
	49,311		NSK Ltd		478
	113,300		NTT Data Corp		5,712
	439,500		NTT DoCoMo, Inc		7,413
	12,900		NTT Urban Development Corp		119
	68,259		Obayashi Corp		582
	217,098		Odakyu Electric Railway Co Ltd		1,955
	83,797		OJI Paper Co Ltd		360
	487,800		Olympus Corp		15,219
	20,713		Omron Corp		623
	153,598		Ono Pharmaceutical Co Ltd		18,211
	3,803		Oracle Corp Japan		161
	21,200		Oriental Land Co Ltd		1,184
	1,883,700		ORIX Corp		24,298
	198,981		Osaka Gas Co Ltd		754
	58,600		Osaka Securities Exchange Co Ltd		857
	8,900		Otsuka Corp		434
	41,300		Otsuka Holdings KK		1,319
	31,200		Park24 Co Ltd		586
	1,400,000	*	Pioneer Corp		3,042
	50,000		Pola Orbis Holdings, Inc		3,109
	98,400		Rakuten, Inc		1,258
	15,100		Recruit Holdings Co Ltd		453
	1,089,630		Resona Holdings, Inc		5,552
	413,881	e	Ricoh Co Ltd		4,177
	3,799		Rinnai Corp		290
	164,224		Rohm Co Ltd		7,303
	2,600		Ryohin Keikaku Co Ltd		529
	5,080		Sankyo Co Ltd		181
	5,000	e	Sanrio Co Ltd		137
	144,500		Santen Pharmaceutical Co Ltd		1,940
	212,000		Sapporo Holdings Ltd		827
	109,800		Sawai Pharmaceutical Co Ltd		6,388
	23,080		SBI Holdings, Inc		261
	22,234		Secom Co Ltd		1,337
	19,743	e	Sega Sammy Holdings, Inc		193

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	13,000		Seibu Holdings, Inc	$	263
	29,800		Seiko Epson Corp		422
	127,551		Sekisui Chemical Co Ltd		1,343
	232,720		Sekisui House Ltd		3,645
	368,681		Seven & I Holdings Co Ltd		16,824
	61,400		Seven Bank Ltd		266
	163,106	*,e	Sharp Corp		187
	58,919		Shikoku Electric Power Co, Inc		961
	26,982		Shimadzu Corp		390
	6,997		Shimamura Co Ltd		754
	8,281		Shimano, Inc		1,163
	1,548,962		Shimizu Corp		13,300
	224,700		Shin-Etsu Chemical Co Ltd		11,524
	549,649		Shinsei Bank Ltd		1,130
	101,933		Shionogi & Co Ltd		3,654
	38,485		Shiseido Co Ltd		839
	56,301		Shizuoka Bank Ltd		565
	32,000		Shoei Co Ltd		289
	20,573		Showa Shell Sekiyu KK		162
	5,788		SMC Corp		1,267
	70,300		SMS Co Ltd		1,189
	690,560		Softbank Corp		31,931
	2,400,000		Sojitz Holdings Corp		4,471
	80,100		So-net M3, Inc		1,592
	1,684,382	*	Sony Corp		41,288
	748,600		Sony Financial Holdings, Inc		12,287
	15,015		Stanley Electric Co Ltd		300
	1,178,883		Sumitomo Chemical Co Ltd		5,961
	261,363		Sumitomo Corp		2,527
	79,076		Sumitomo Electric Industries Ltd		1,012
	1,539,625		Sumitomo Heavy Industries Ltd		6,101
	53,464		Sumitomo Metal Mining Co Ltd		607
	1,151,379		Sumitomo Mitsui Financial Group, Inc		43,661
	189,725		Sumitomo Realty & Development Co Ltd		6,038
	18,163		Sumitomo Rubber Industries, Inc		252
	14,500		Suntory Beverage & Food Ltd		557
	236,154		Suruga Bank Ltd		4,394
	8,300		Suzuken Co Ltd		277
	38,822		Suzuki Motor Corp		1,194
	310,200		Sysmex Corp		16,382
	180,331		T&D Holdings, Inc		2,130
	122,000		Taiheiyo Cement Corp		366
	334,143		Taisei Corp		2,178
	3,423		Taisho Pharmaceutical Holdings Co Ltd		197
	16,372		Taiyo Nippon Sanso Corp		156
	414,718		Takashimaya Co Ltd		3,351
	318,648		Takeda Pharmaceutical Co Ltd		13,980
	76,881		Tanabe Seiyaku Co Ltd		1,357
	85,527		TDK Corp		4,837
	1,247,613		Teijin Ltd		3,790
	32,200		Terumo Corp		911
	59,776		THK Co Ltd		952

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	315,878		Tobu Railway Co Ltd	$	1,357
	11,975		Toho Co Ltd		273
	43,000		Toho Gas Co Ltd		254
	153,115		Tohoku Electric Power Co, Inc		2,075
	490,764		Tokio Marine Holdings, Inc		18,335
	154,060	*	Tokyo Electric Power Co, Inc		1,029
	18,310		Tokyo Electron Ltd		865
	2,871,724		Tokyo Gas Co Ltd		13,891
	50,000		Tokyo Ohka Kogyo Co Ltd		1,325
	21,900		Tokyo Tatemono Co Ltd		261
	554,852		Tokyu Corp		4,072
	54,600		Tokyu Fudosan Holdings Corp		363
	218,126		TonenGeneral Sekiyu KK		2,114
	55,427		Toppan Printing Co Ltd		446
	499,664		Toray Industries, Inc		4,320
	509,481		Toshiba Corp		1,284
	900,000		Tosoh Corp		4,331
	15,191		Toto Ltd		473
	17,039		Toyo Seikan Kaisha Ltd		271
	39,399		Toyo Suisan Kaisha Ltd		1,494
	186,697		Toyoda Gosei Co Ltd		3,669
	17,361		Toyota Industries Corp		826
	2,035,648		Toyota Motor Corp		119,183
	22,694		Toyota Tsusho Corp		478
	11,128		Trend Micro, Inc		393
	120,800		Uni-Charm Corp		2,140
	279		United Urban Investment Corp		373
	23,030		USS Co Ltd		383
	36,900		West Japan Railway Co		2,313
	486,100		Yahoo! Japan Corp		1,851
	9,377		Yakult Honsha Co Ltd		467
	74,490	e	Yamada Denki Co Ltd		300
	71,406	e	Yamaguchi Financial Group, Inc		875
	17,688		Yamaha Corp		392
	27,883		Yamaha Motor Co Ltd		561
	37,255		Yamato Transport Co Ltd		713
	12,553		Yamazaki Baking Co Ltd		193
	374,984	e	Yaskawa Electric Corp		3,827
	24,010		Yokogawa Electric Corp		251
	10,600		Yokohama Rubber Co Ltd		187
			TOTAL JAPAN		1,449,051
JERSEY, C.I. - 0.0%
	4,384		Randgold Resources Ltd		258
			TOTAL JERSEY, C.I.		258
KOREA, REPUBLIC OF - 0.1%
	29,000		Hanssem Co Ltd		7,022
	40,743		KB Financial Group, Inc		1,211
	3,000		Naver Corp		1,300
	3,564		Samsung Electronics Co Ltd		3,419
	20,000		Samsung Fire & Marine Insurance Co Ltd		4,723

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	90,000		Woongjin Coway Co Ltd	$	6,369
			TOTAL KOREA, REPUBLIC OF		24,044
LUXEMBOURG - 0.1%
	47,101	e	ArcelorMittal		244
	4,133,305		B&M European Value Retail S.A.		20,393
	3,015		Millicom International Cellular S.A.		189
	1,885		RTL Group		163
	15,055		SES Global S.A.		475
	23,233		Tenaris S.A.		279
			TOTAL LUXEMBOURG		21,743
MACAU - 0.0%
	97,792		MGM China Holdings Ltd		114
	151,783	e	Wynn Macau Ltd		174
			TOTAL MACAU		288
MALAYSIA - 0.1%
	5,555,550		Karex BHD		4,107
	1,266,980		Public Bank BHD		5,052
	1,200,000		Tenaga Nasional BHD		3,282
	34,562		YNH Property BHD		15
			TOTAL MALAYSIA		12,456
MEXICO - 0.1%
	182,158	*	Cemex SAB de C.V. (ADR)		1,273
	11,200	e	Fresnillo plc		100
	700,000		Gruma SAB de C.V.		9,723
			TOTAL MEXICO		11,096
NETHERLANDS - 1.7%
	84,773		Aegon NV		486
	225,000	*	AerCap Holdings NV		8,604
	346,916		Akzo Nobel NV		22,563
	12,054	*	Altice NV (Class A)		252
	3,633	*	Altice NV (Class B)		81
	470,054		ASML Holding NV		41,319
	44,600	e	ASML Holding NV (ADR)		3,924
	3,942		Boskalis Westminster		173
	9,295		Delta Lloyd NV		78
	8,221		DSM NV		379
	226,241	g	Euronext NV		9,651
	3,872	e	Gemalto NV		252
	4,729		Heineken Holding NV		337
	10,618		Heineken NV		860
	6,258,901		ING Groep NV		88,470
	1,371,962		ING Groep NV (ADR)		19,386
	41,739		Koninklijke Ahold NV		814
	43,333		Koninklijke Philips Electronics NV		1,019
	3,180		Koninklijke Vopak NV		127
	8,971		NN Group NV		258

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	240,514	*	NXP Semiconductors NV	$	20,942
	4,137	*,e	OCI NV		106
	5,735		Randstad Holdings NV		343
	1,499,105		Royal Dutch Shell plc (A Shares)		35,389
	1,057,020		Royal Dutch Shell plc (B Shares)		24,994
	150,067		Royal KPN NV		563
	23,646		TNT Express NV		180
	1,036,400	*	TomTom NV		10,610
	183,968	e	Wolters Kluwer NV		5,673
			TOTAL NETHERLANDS		297,833
NEW ZEALAND - 0.1%
	4,000,000		Air New Zealand Ltd		6,294
	88,380		Auckland International Airport Ltd		277
	70,276		Contact Energy Ltd		223
	66,214	e	Fletcher Building Ltd		289
	120,762	*,e	Meridian Energy Ltd		163
	67,787	e	Mighty River Power Ltd		109
	36,298	e	Ryman Healthcare Ltd		170
	900,000	e	Sky Network Television Ltd		2,682
	179,218		Telecom Corp of New Zealand Ltd		342
			TOTAL NEW ZEALAND		10,549
NORWAY - 0.3%
	779,257		DNB NOR Holding ASA		10,142
	10,160		Gjensidige Forsikring BA		137
	65,470		Norsk Hydro ASA		218
	38,839		Orkla ASA		287
	400,000		PAN Fish ASA		5,089
	2,949,863		Statoil ASA		43,006
	34,565		Telenor ASA		646
	8,535		Yara International ASA		340
			TOTAL NORWAY		59,865
PHILIPPINES - 0.1%
	20,895,900	*	Melco Crown Philippines Resorts Corp		1,671
	4,174,604		Metropolitan Bank & Trust		7,293
	7,905,230		Robinsons Retail Holdings, Inc		12,365
			TOTAL PHILIPPINES		21,329
POLAND - 0.0%
	800,000	*	Polska Grupa Energetyczna S.A.		2,842
			TOTAL POLAND		2,842
PORTUGAL - 0.1%
	1,835,697	*,e	Banco Comercial Portugues S.A.		90
	110,321		Energias de Portugal S.A.		404
	17,527		Galp Energia SGPS S.A.		173
	659,178		Jeronimo Martins SGPS S.A.		8,896
			TOTAL PORTUGAL		9,563

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
RUSSIA - 0.1%
	1,509,800		Sberbank of Russian Federation (ADR)	$	7,476
	203,100	*	X 5 Retail Group NV (GDR)		3,541
			TOTAL RUSSIA		11,017
SINGAPORE - 0.3%
	206,855		Ascendas REIT		341
	144,603		Avago Technologies Ltd		18,077
	185,197		CapitaCommercial Trust		175
	780,746		CapitaLand Ltd		1,474
	654,017		CapitaMall Trust		875
	138,800		City Developments Ltd		752
	202,648		ComfortDelgro Corp Ltd		409
	738,706		DBS Group Holdings Ltd		8,432
	593,192		Genting International plc		303
	1,940,495		Global Logistic Properties		2,790
	683,765		Golden Agri-Resources Ltd		159
	557,347		Hutchison Port Holdings Trust		307
	11,866	*,e	Jardine Cycle & Carriage Ltd		225
	421,268	e	Keppel Corp Ltd		2,015
	54,756		Keppel Infrastructure Trust		20
	78,567		K-REIT Asia		53
	458,115	e	Oversea-Chinese Banking Corp		2,837
	95,148		SembCorp Industries Ltd		232
	367,917	e	SembCorp Marine Ltd		594
	155,384		Singapore Airlines Ltd		1,170
	268,943		Singapore Exchange Ltd		1,330
	524,025	e	Singapore Press Holdings Ltd		1,414
	484,507		Singapore Technologies Engineering Ltd		1,016
	2,631,491		Singapore Telecommunications Ltd		6,661
	62,530		StarHub Ltd		152
	229,800		Suntec Real Estate Investment Trust		243
	266,268		United Overseas Bank Ltd		3,477
	47,209	e	United Overseas Land Ltd		200
	185,562		Wilmar International Ltd		336
	1,660,700	e	Yanlord Land Group Ltd		1,186
			TOTAL SINGAPORE		57,255
SOUTH AFRICA - 0.1%
	26,500		Investec plc		203
	557,295		Mondi plc		11,680
	32,300		Naspers Ltd (N Shares)		4,048
	800,000		Sanlam Ltd		3,460
	90,000	e	Sasol Ltd		2,521
			TOTAL SOUTH AFRICA		21,912
SPAIN - 0.8%
	21,660	e	Abertis Infraestructuras S.A. (Continuous)		343
	80,000	e	Acciona S.A.		5,677
	188,915	e	Acerinox S.A.		1,689
	9,241		ACS Actividades Construccion y Servicios S.A.		266
	3,151	*,g	Aena S.A.		349

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	609,982		Amadeus IT Holding S.A.	$	26,135
	294,252		Banco Bilbao Vizcaya Argentaria S.A.		2,488
	231,957	e	Banco de Sabadell S.A.		427
	79,353	e	Banco Popular Espanol S.A.		290
	678,577		Banco Santander Central Hispano S.A.		3,608
	215,377		Bankia S.A.		279
	31,872	e	Bankinter S.A.		235
	30,981	*,m	CaixaBank S.A.		120
	160,000	*,g	Cellnex Telecom SAU		2,726
	49,978		Corp Mapfre S.A.		131
	2,933,982		Criteria CaixaBank S.A.		11,323
	928,415	e	Distribuidora Internacional de Alimentacion S.A.		5,620
	9,894		Enagas		284
	1,029,574		Endesa S.A.		21,712
	20,535		Ferrovial S.A.		491
	216,321		Gas Natural SDG S.A.		4,221
	300,000	e	Gestevision Telecinco S.A.		3,280
	6,956	e	Grifols S.A.		288
	4,096,561		Iberdrola S.A.		27,296
	50,951		Inditex S.A.		1,708
	129,390	*,e,m	Let’s GOWEX S.A.		1
	5,060		Red Electrica de Espana		420
	302,000		Repsol YPF S.A.		3,522
	235,400	e	Tecnicas Reunidas S.A.		10,425
	541,009		Telefonica S.A.		6,563
	7,795	*,e	Zardoya Otis S.A.		84
			TOTAL SPAIN		142,001
SWEDEN - 0.8%
	13,983		Alfa Laval AB		229
	271,036		Assa Abloy AB		4,861
	31,216		Atlas Copco AB (A Shares)		751
	18,412		Atlas Copco AB (B Shares)		412
	13,323	e	Autoliv, Inc		1,452
	803,196		Boliden AB		12,577
	1,187,024		Electrolux AB (Series B)		33,541
	141,935		Ericsson (LM) (B Shares)		1,392
	9,313		Getinge AB (B Shares)		208
	44,292		Hennes & Mauritz AB (B Shares)		1,618
	296,825		Hexagon AB (B Shares)		9,068
	19,914		Husqvarna AB (B Shares)		131
	3,320	e	ICA Gruppen AB		112
	8,009		Industrivarden AB		141
	713,283		Intrum Justitia AB		24,674
	20,798		Investor AB (B Shares)		715
	200,000		JM AB		5,379
	964,019	e	Kinnevik Investment AB (Series B)		27,557
	10,754	*,e	Lundin Petroleum AB		139
	200,000		NCC AB (B Shares)		6,043
	141,728		Nordea Bank AB		1,581
	49,848		Sandvik AB		425
	13,693		Securitas AB (B Shares)		167

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	70,280		Skandinaviska Enskilda Banken AB (Class A)	$	752
	17,724		Skanska AB (B Shares)		348
	18,591		SKF AB (B Shares)		342
	27,598		Svenska Cellulosa AB (B Shares)		772
	70,142		Svenska Handelsbanken AB		1,006
	242,305		Swedbank AB (A Shares)		5,360
	9,568		Swedish Match AB		289
	14,067		Tele2 AB		137
	120,026		TeliaSonera AB		648
	582,157		Volvo AB (B Shares)		5,577
			TOTAL SWEDEN		148,404
SWITZERLAND - 4.4%
	102,419		ABB Ltd		1,812
	65,791		Actelion Ltd		8,362
	400,854		Adecco S.A.		29,357
	4,082		Aryzta AG.		173
	54,446		Baloise Holding AG.		6,240
	104		Barry Callebaut AG.		113
	398,809		Cie Financiere Richemont S.A.		31,032
	180,000		Clariant AG.		3,031
	9,548		Coca-Cola HBC AG.		202
	534,457		Credit Suisse Group		12,847
	1,824	*	Dufry Group		214
	388		EMS-Chemie Holding AG.		160
	7,200		Flughafen Zuerich AG.		5,011
	1,756		Geberit AG.		537
	8,000		Georg Fischer AG.		4,534
	424		Givaudan S.A.		690
	569,311		Glencore Xstrata plc		790
	690,699		Holcim Ltd		36,206
	10,264		Julius Baer Group Ltd		466
	8,000		Kaba Holding AG.		4,913
	2,545		Kuehne & Nagel International AG.		327
	291,027		LafargeHolcim Ltd		15,160
	44		Lindt & Spruengli AG.		258
	5		Lindt & Spruengli AG. (Registered)		355
	310,344		Lonza Group AG.		40,722
	1,178,077		Nestle S.A.		88,598
	2,090,587		Novartis AG.		192,150
	1,689		Pargesa Holding S.A.		99
	765		Partners Group		259
	2,593		Phonak Holding AG.		334
	369,035		Roche Holding AG.		97,968
	2,192		Schindler Holding AG.		315
	1,027		Schindler Holding AG. (Registered)		151
	255		SGS S.A.		446
	100		Sika AG.		308
	28,964	e	STMicroelectronics NV		198
	1,102		Sulzer AG.		108
	1,420		Swatch Group AG.		527
	2,461		Swatch Group AG. (Registered)		177

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,501		Swiss Life Holding	$	335
	3,296		Swiss Prime Site AG.		241
	518,248		Swiss Re Ltd		44,464
	1,188		Swisscom AG.		593
	35,961		Syngenta AG.		11,522
	546,011		TE Connectivity Ltd		32,701
	4,201,726		UBS AG.		77,682
	513,162		Wolseley plc		30,017
	6,960		Zurich Financial Services AG.		1,709
			TOTAL SWITZERLAND		784,414
TAIWAN - 0.3%
	3,000,000		Advanced Semiconductor Engineering, Inc		3,269
	150,000		Catcher Technology Co Ltd		1,604
	3,360,000		Cathay Financial Holding Co Ltd		4,602
	996,965		Eclat Textile Co Ltd		15,830
	2,781,746		Hota Industrial Manufacturing Co Ltd		8,933
	447,200		King Slide Works Co Ltd		6,116
	2,300,000		Pegatron Technology Corp		5,629
			TOTAL TAIWAN		45,983
THAILAND - 0.0%
	3,000,000		Delta Electronics Thai PCL		7,283
			TOTAL THAILAND		7,283
TURKEY - 0.0%
	5,700,849		Emlak Konut Gayrimenkul Yatiri		4,733
			TOTAL TURKEY		4,733
UNITED ARAB EMIRATES - 0.1%
	473,008	*	Emaar Malls Group PJSC		400
	4,715,574		Emaar Properties PJSC		8,357
	1,425,000		First Gulf Bank PJSC		5,420
			TOTAL UNITED ARAB EMIRATES		14,177
UNITED KINGDOM - 7.6%
	45,856		3i Group plc		324
	41,318	e	Aberdeen Asset Management plc		186
	9,584		Admiral Group plc		218
	12,216		Aggreko plc		176
	1,639,830	*	Aldermore Group plc		6,953
	18,528		AMEC plc		201
	66,684		Anglo American plc (London)		557
	2,992,189		ARM Holdings plc		42,989
	2,707,043		Ashtead Group plc		38,282
	110,100	*	ASOS plc		4,615
	979,550		Associated British Foods plc		49,574
	488,757		AstraZeneca plc		30,996
	3,121,601	*,g	Auto Trader Group plc		16,061
	638,733		Aviva plc		4,369
	11,908		Babcock International Group		165

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	148,083		BAE Systems plc	$	1,004
	29,319,200		Barclays plc		108,504
	46,671		Barratt Developments plc		456
	300,000		Bellway plc		11,304
	671,043	*	Belmond Ltd.		6,784
	159,163		BG Group plc		2,296
	4,489,913		BP plc		22,779
	86,947		British American Tobacco plc		4,797
	294,317		British Land Co plc		3,738
	2,914,173		Britvic plc		29,949
	1,065,543		BT Group plc		6,782
	16,004		Bunzl plc		429
	21,000		Burberry Group plc		435
	31,217		Capita Group plc		567
	229,354		Centrica plc		797
	686,400		Cineworld Group plc		5,772
	160,000		Close Brothers Group plc		3,619
	44,597		CNH Industrial NV		291
	53,015		Cobham plc		230
	453,171		Compass Group plc		7,238
	136,700		Consort Medical plc		1,934
	6,410		Croda International plc		263
	60,000		DCC plc		4,534
	871,598		Delphi Automotive plc		66,276
	117,021		Diageo plc		3,144
	64,757		Direct Line Insurance Group plc		367
	1,289,323		easyJet plc		34,804
	1,291,801	*,e	Fiat DaimlerChrysler Automobiles NV		16,790
	77,703		GKN plc		316
	972,577		GlaxoSmithKline plc		18,668
	74,177		Group 4 Securicor plc		259
	36,561		Hammerson plc		345
	11,648		Hargreaves Lansdown plc		213
	8,557,727		Hays plc		19,892
	3,527,569		HSBC Holdings plc		26,611
	300,000		HSBC Holdings plc (Hong Kong)		2,253
	25,608		ICAP plc		177
	12,999		IMI plc		187
	184,776		Imperial Tobacco Group plc		9,553
	1,075,000		Inchcape plc		11,714
	21,192		Inmarsat plc		315
	10,802		InterContinental Hotels Group plc		374
	37,452	*	International Consolidated Airlines Group S.A.		336
	7,384,455	*	International Consolidated Airlines Group S.A. (London)		65,964
	7,460		Intertek Group plc		275
	174,975		ITV plc		652
	59,750	e	J Sainsbury plc		236
	9,661		Johnson Matthey plc		358
	1,866,414	*	Just Eat plc		11,612
	106,376		Kingfisher plc		578
	37,119		Land Securities Group plc		708
	10,169,294		Legal & General Group plc		36,668

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	228,225	*	Liberty Global plc	$	9,362
	522,621	*	Liberty Global plc (Class A)		22,441
	1,652	*	Liberty Global plc LiLAC (Class A)		56
	1,902	*	Liberty Global plc LiLAC (Class C)		65
	43,563		Liberty International plc		217
	36,347,878		Lloyds TSB Group plc		41,381
	14,671		London Stock Exchange Group plc		538
	6,800,024		Man Group plc		15,785
	77,242		Marks & Spencer Group plc		586
	35,801		Meggitt plc		258
	45,890		Melrose Industries plc		184
	32,454	g	Merlin Entertainments plc		183
	174,254		National Grid plc		2,427
	44,429		New Carphone Warehouse plc		286
	330,043		Next plc		38,035
	224,400		Old Mutual plc		643
	38,333		Pearson plc		655
	16,313		Pentair plc		833
	13,897		Persimmon plc		423
	11,397	e	Petrofac Ltd		133
	3,562,335		Prudential plc		75,153
	29,928		Reckitt Benckiser Group plc		2,714
	557,983	*	Reed Elsevier NV		9,116
	51,778		Reed Elsevier plc		888
	32,675		Rexam plc		259
	227,462		Rightmove plc		12,580
	180,507		Rio Tinto Ltd		6,210
	557,299		Rio Tinto plc		18,699
	86,666		Rolls-Royce Group plc		889
	150,644	*	Royal Bank of Scotland Group plc		719
	36,371		Royal Mail plc		253
	47,154		RSA Insurance Group plc		287
	1,712,436		SABMiller plc		96,972
	49,012		Sage Group plc		371
	6,130		Schroders plc		261
	46,161		Scottish & Southern Energy plc		1,045
	16,064	*,e	Seadrill Ltd (Oslo Exchange)		94
	37,267		Segro plc		242
	11,199		Severn Trent plc		370
	310,465	*,g	Shawbrook Group plc		1,489
	2,997,996		Sky plc		47,431
	41,003		Smith & Nephew plc		716
	18,419		Smiths Group plc		281
	474,600	g	Spire Healthcare Group plc		2,587
	11,579	*	Sports Direct International plc		133
	24,340		St. James’s Place plc		313
	394,778		Standard Chartered plc		3,831
	89,604		Standard Life plc		526
	11,660	*,e	Subsea 7 S.A.		88
	20,803		Tate & Lyle plc		185
	4,055,799		Taylor Wimpey plc		12,016
	377,585		Tesco plc		1,049

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,098,678		Travis Perkins plc	$	32,777
	39,937		Tullow Oil plc		103
	75,784		Unilever NV		3,038
	59,701		Unilever plc		2,432
	31,829		United Utilities Group plc		446
	1,000,900		Vesuvius plc		5,352
	1,791,586	*	Virgin Money Holdings UK plc		10,491
	12,927,367		Vodafone Group plc		40,774
	10,339		Weir Group plc		183
	230,000		WH Smith plc		5,452
	344,777		Whitbread plc		24,426
	40,958		William Hill plc		218
	101,102	e	WM Morrison Supermarkets plc		254
	2,184,311		WPP plc		45,475
			TOTAL UNITED KINGDOM		1,353,492
UNITED STATES - 56.9%
	197,830		3M Co		28,046
	65,000		A.O. Smith Corp		4,237
	130,000		Aaron’s, Inc		4,694
	1,021,587		Abbott Laboratories		41,088
	1,071,897		AbbVie, Inc		58,322
	27,878	e	Abercrombie & Fitch Co (Class A)		591
	161,049		Accenture plc		15,825
	293,218		ACE Ltd		30,319
	110,294		Activision Blizzard, Inc		3,407
	18,287		Acuity Brands, Inc		3,211
	202,356	*	Adobe Systems, Inc		16,638
	38,931	e	ADT Corp		1,164
	21,155		Advance Auto Parts, Inc		4,010
	151,448		AES Corp		1,483
	432,576		Aetna Inc		47,328
	25,308	*	Affiliated Managers Group, Inc		4,327
	54,955		Aflac, Inc		3,195
	23,232	e	AGCO Corp		1,083
	35,918		Agilent Technologies, Inc		1,233
	40,446		Air Products & Chemicals, Inc		5,160
	14,791		Airgas, Inc		1,321
	39,390	*	Akamai Technologies, Inc		2,720
	99,100		Alaska Air Group, Inc		7,873
	701,526		Albemarle Corp		30,937
	131,879		Alcoa, Inc		1,274
	242,897	*	Alexion Pharmaceuticals, Inc		37,987
	147,397	*	Alkermes plc		8,648
	3,198	*	Alleghany Corp		1,497
	16,000		Allegiant Travel Co		3,460
	412,925	*	Allergan plc		112,237
	106,979	*	Alliance Data Systems Corp		27,705
	64,966		Alliant Energy Corp		3,800
	220,690		Allstate Corp		12,853
	1,024,923	*	Ally Financial, Inc		20,888
	13,694	*	Alnylam Pharmaceuticals, Inc		1,100

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	102,554	*	Alphabet, Inc (Class A)	$	65,467
	266,654	*	Alphabet, Inc (Class C)		162,238
	40,809		Altera Corp		2,044
	476,363		Altria Group, Inc		25,914
	236,798	*	Amazon.com, Inc		121,215
	65,000	*	AMC Networks, Inc		4,756
	9,878		Amerco, Inc		3,887
	44,359		Ameren Corp		1,875
	17,052		American Airlines Group, Inc		662
	119,774		American Capital Agency Corp		2,240
	434,521		American Electric Power Co, Inc		24,707
	242,377		American Express Co		17,967
	149,900		American Financial Group, Inc		10,330
	197,055		American International Group, Inc		11,197
	437,400		American Tower Corp		38,482
	119,680		American Water Works Co, Inc		6,592
	139,953		Ameriprise Financial, Inc		15,273
	72,832		AmerisourceBergen Corp		6,918
	26,370		Ametek, Inc		1,380
	554,898		Amgen, Inc		76,753
	136,418		Amphenol Corp (Class A)		6,952
	513,218		Anadarko Petroleum Corp		30,993
	67,205		Analog Devices, Inc		3,791
	320,927		Annaly Capital Management, Inc		3,168
	14,347	*	Ansys, Inc		1,265
	10,158	*,e	Antero Resources Corp		215
	189,744		Anthem, Inc		26,564
	57,480		Aon plc		5,093
	583,170		Apache Corp		22,837
	3,213,264		Apple, Inc		354,423
	142,263		Applied Materials, Inc		2,090
	16,991		ARAMARK Holdings Corp		504
	45,109	*	Arch Capital Group Ltd		3,314
	206,776		Archer Daniels Midland Co		8,571
	11,628	*	Arrow Electronics, Inc		643
	13,168		Arthur J. Gallagher & Co		544
	42,000	*	Asbury Automotive Group, Inc		3,408
	14,051		Ashland, Inc		1,414
	12,416		Assurant, Inc		981
	1,088,309		AT&T, Inc		35,457
	309,770	*	Autodesk, Inc		13,673
	81,247		Automatic Data Processing, Inc		6,529
	135,101	*	Autonation, Inc		7,860
	26,185	*	AutoZone, Inc		18,953
	19,210		AvalonBay Communities, Inc		3,358
	15,364		Avery Dennison Corp		869
	443,058	*	Avis Budget Group, Inc		19,353
	19,660		Avnet, Inc		839
	25,432	*	Axalta Coating Systems Ltd		644
	166,701		Axiall Corp		2,616
	195,239		Axis Capital Holdings Ltd		10,488
	208,586		Baker Hughes, Inc		10,855

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	152,919		Ball Corp	$	9,512
	6,522,086		Bank of America Corp		101,614
	99,019		Bank of New York Mellon Corp		3,877
	18,669		Bard (C.R.), Inc		3,478
	214,117	*	Baxalta, Inc		6,747
	306,392	*	Baxter International, Inc		10,065
	83,562		BB&T Corp		2,975
	17,944		BE Aerospace, Inc		788
	52,655		Becton Dickinson & Co		6,985
	90,012	*	Bed Bath & Beyond, Inc		5,132
	225,037	*	Berkshire Hathaway, Inc (Class B)		29,345
	971,879	*	Berry Plastics Group, Inc		29,224
	865,629		Best Buy Co, Inc		32,132
	330,247	e	Big Lots, Inc		15,825
	101,550	*	Biogen Idec, Inc		29,633
	178,785	*	BioMarin Pharmaceutical, Inc		18,830
	32,820		BlackRock, Inc		9,763
	218,000		Blackstone Group LP		6,904
	712,934	*,e	Blue Buffalo Pet Products, Inc		12,769
	90,091		Boeing Co		11,797
	24,232		BorgWarner, Inc		1,008
	69,514		Boston Properties, Inc		8,230
	499,697	*	Boston Scientific Corp		8,200
	54,000		Brinker International, Inc		2,844
	483,003		Bristol-Myers Squibb Co		28,594
	1,129,778		Brixmor Property Group, Inc		26,527
	579,964		Broadcom Corp (Class A)		29,828
	660,000		Brocade Communications Systems, Inc		6,851
	15,436		Brown-Forman Corp (Class B)		1,496
	31,375		Bunge Ltd		2,300
	747,896		BWX Technologies, Inc		19,715
	58,042		CA, Inc		1,585
	83,263		Cablevision Systems Corp (Class A)		2,704
	101,798		Cabot Oil & Gas Corp		2,225
	97,000	*	CACI International, Inc (Class A)		7,175
	55,000	e	Cal-Maine Foods, Inc		3,004
	65,296	*	Calpine Corp		953
	29,884		Camden Property Trust		2,208
	46,845	*	Cameron International Corp		2,873
	37,181		Campbell Soup Co		1,884
	194,497		Capital One Financial Corp		14,105
	153,675		Cardinal Health, Inc		11,805
	28,894		Care Capital Properties, Inc		951
	92,547	*	Carmax, Inc		5,490
	86,481		Carnival Corp		4,298
	8,703		Carnival plc		450
	100,000		Carter’s, Inc		9,064
	67,502	e	Caterpillar, Inc		4,412
	1,073,591	*	CBRE Group, Inc		34,355
	579,782		CBS Corp (Class B)		23,133
	24,585		CDK Global, Inc		1,175
	210,000		CDW Corp		8,581

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	32,398		Celanese Corp (Series A)	$	1,917
	911,406	*	Celgene Corp		98,587
	22,142	*	Centene Corp		1,201
	117,993		Centerpoint Energy, Inc		2,129
	73,065		CenturyTel, Inc		1,835
	67,057	*	Cerner Corp		4,021
	367,078		CF Industries Holdings, Inc		16,482
	31,283		CH Robinson Worldwide, Inc		2,120
	721,627		Charles Schwab Corp		20,610
	36,906	*,e	Charter Communications, Inc		6,490
	40,000	e	Chemed Corp		5,339
	43,721	*	Cheniere Energy, Inc		2,112
	62,199	e	Chesapeake Energy Corp		456
	816,144		Chevron Corp		64,377
	145,306	e	Chicago Bridge & Iron Co NV		5,763
	10,257	*	Chipotle Mexican Grill, Inc (Class A)		7,388
	27,121		Chubb Corp		3,326
	72,541		Church & Dwight Co, Inc		6,086
	591,149	*	Ciena Corp		12,249
	169,537		Cigna Corp		22,891
	21,762		Cimarex Energy Co		2,230
	25,766		Cincinnati Financial Corp		1,386
	32,896		Cintas Corp		2,821
	5,010,941		Cisco Systems, Inc		131,537
	39,791		CIT Group, Inc		1,593
	1,411,302		Citigroup, Inc		70,015
	198,583		Citizens Financial Group, Inc		4,738
	300,770	*	Citrix Systems, Inc		20,837
	233,800	e	Cliffs Natural Resources, Inc		570
	54,017		Clorox Co		6,241
	53,401		CME Group, Inc		4,952
	913,914		CMS Energy Corp		32,279
	553,644		Coach, Inc		16,017
	55,679	*	Cobalt International Energy, Inc		394
	2,201,560		Coca-Cola Co		88,327
	51,087		Coca-Cola Enterprises, Inc		2,470
	125,387	*	Cognizant Technology Solutions Corp (Class A)		7,850
	87,324		Colgate-Palmolive Co		5,542
	77,681		Columbia Pipeline Group, Inc		1,421
	2,270,740		Comcast Corp (Class A)		129,160
	171,632	e	Comcast Corp (Special Class A)		9,824
	40,803		Comerica, Inc		1,677
	200,000	*	CommScope Holding Co, Inc		6,006
	12,441		Communications Sales & Leasing, Inc		223
	100,000	*	Community Health Systems, Inc		4,277
	156,345		Computer Sciences Corp		9,596
	70,059		ConAgra Foods, Inc		2,838
	526,583	*	Concho Resources, Inc		51,763
	193,098		ConocoPhillips		9,261
	300,000		Conseco, Inc		5,643
	32,049	e	Consol Energy, Inc		314
	85,706		Consolidated Edison, Inc		5,729

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	36,827		Constellation Brands, Inc (Class A)	$	4,611
	161,854	*	Continental Resources, Inc		4,689
	31,089		Cooper Cos, Inc		4,628
	19,800	e	Core Laboratories NV		1,976
	222,189		Corning, Inc		3,804
	150,210		Costco Wholesale Corp		21,716
	22,500	*,e	Credit Acceptance Corp		4,430
	101,231		Crown Castle International Corp		7,984
	485,726	*	Crown Holdings, Inc		22,222
	1,387,127		CSX Corp		37,314
	131,706		Cummins, Inc		14,301
	1,237,741		CVS Health Corp		119,417
	128,348		Danaher Corp		10,937
	93,739		Darden Restaurants, Inc		6,425
	124,273	*	DaVita, Inc		8,989
	43,984	e	Deere & Co		3,255
	974,251		Delta Air Lines, Inc		43,715
	110,000		Deluxe Corp		6,131
	22,335		Dentsply International, Inc		1,129
	76,327		Devon Energy Corp		2,831
	17,978	e	Diamond Offshore Drilling, Inc		311
	360,691	*	Diamondback Energy, Inc		23,301
	23,873		Dick’s Sporting Goods, Inc		1,184
	31,208	e	Digital Realty Trust, Inc		2,039
	91,603		Discover Financial Services		4,762
	31,268	*,e	Discovery Communications, Inc (Class A)		814
	43,168	*	Discovery Communications, Inc (Class C)		1,049
	88,691	*	DISH Network Corp (Class A)		5,174
	707,651		Dollar General Corp		51,262
	68,326	*	Dollar Tree, Inc		4,555
	121,332		Dominion Resources, Inc		8,539
	18,214		Dover Corp		1,041
	620,893		Dow Chemical Co		26,326
	903,023		DR Horton, Inc		26,513
	122,564		Dr Pepper Snapple Group, Inc		9,689
	41,200		DST Systems, Inc		4,332
	42,336		DTE Energy Co		3,403
	80,182		Du Pont (E.I.) de Nemours & Co		3,865
	85,420		Duke Energy Corp		6,145
	54,023		Duke Realty Corp		1,029
	7,778		Dun & Bradstreet Corp		817
	119,999	*	E*TRADE Financial Corp		3,160
	37,310		Eagle Materials, Inc		2,553
	344,735		East West Bancorp, Inc		13,245
	32,375		Eastman Chemical Co		2,095
	440,873		Eaton Corp		22,617
	15,364		Eaton Vance Corp		513
	291,600	*	eBay, Inc		7,127
	27,829		Ecolab, Inc		3,053
	12,032		Edgewell Personal Care Co		982
	78,457		Edison International		4,948
	33,455	*	Edwards Lifesciences Corp		4,756

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	66,142	*	Electronic Arts, Inc	$	4,481
	869,684		Eli Lilly & Co		72,784
	1,889,260		EMC Corp		45,645
	57,574		Emerson Electric Co		2,543
	82,526	*	Endo International plc		5,717
	20,103		Energen Corp		1,002
	2,400		Energizer Holdings, Inc		93
	1,784		Engility Holdings, Inc		46
	27,981		Ensco plc		394
	50,241		Entergy Corp		3,271
	14,392	*	Envision Healthcare Holdings, Inc		529
	1,152,233		EOG Resources, Inc		83,883
	33,605		EQT Corp		2,177
	32,195		Equifax, Inc		3,129
	11,830		Equinix, Inc		3,234
	83,979		Equity Residential		6,309
	16,785		Essex Property Trust, Inc		3,750
	165,281		Estee Lauder Cos (Class A)		13,335
	120,000	*	Euronet Worldwide, Inc		8,891
	67,135		Everest Re Group Ltd		11,637
	120,178		Eversource Energy		6,083
	131,479		Exelon Corp		3,905
	93,522		Expedia, Inc		11,006
	19,597		Expeditors International of Washington, Inc		922
	396,888	*	Express Scripts Holding Co		32,132
	1,078,450		Extended Stay America, Inc		18,096
	21,547		Extra Space Storage, Inc		1,663
	1,442,494	d	Exxon Mobil Corp		107,249
	96,424	*	F5 Networks, Inc		11,166
	1,409,677	*	Facebook, Inc		126,730
	29,578	e	Fastenal Co		1,083
	22,426		Federal Realty Investment Trust		3,060
	150,005		FedEx Corp		21,598
	42,684		Fidelity National Information Services, Inc		2,863
	86,410		Fifth Third Bancorp		1,634
	25,260	*,e	FireEye, Inc		804
	135,500	*	First American Corp		5,045
	35,929		First Republic Bank		2,255
	105,282		FirstEnergy Corp		3,296
	107,105	*	Fiserv, Inc		9,276
	33,325	*,e	Fitbit, Inc		1,256
	36,763	*	FleetCor Technologies, Inc		5,059
	623,011	*	Flextronics International Ltd		6,567
	29,138		Flir Systems, Inc		816
	58,477		Flowserve Corp		2,406
	16,982		Fluor Corp		719
	25,132		FMC Corp		852
	50,712	*	FMC Technologies, Inc		1,572
	40,482		FNF Group		1,436
	150,347		Foot Locker, Inc		10,820
	423,883		Ford Motor Co		5,752
	64,336		Fortune Brands Home & Security, Inc		3,054

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	34,468		Franklin Resources, Inc	$	1,284
	95,751		Freeport-McMoRan Copper & Gold, Inc (Class B)		928
	8,440	*	Freescale Semiconductor Holdings Ltd		309
	241,942	e	Frontier Communications Corp		1,149
	178,930	e	GameStop Corp (Class A)		7,374
	340,000		Gaming and Leisure Properties, Inc		10,098
	38,516		Gap, Inc		1,098
	18,725	e	Garmin Ltd		672
	6,186	*	Gartner, Inc		519
	114,045		General Dynamics Corp		15,733
	3,154,988		General Electric Co		79,569
	134,389		General Growth Properties, Inc		3,490
	85,335		General Mills, Inc		4,790
	19,417,463	*,m	General Motors Co		0	^
	69,850,000	*,m	General Motors Co		0	^
	124,581		General Motors Co		3,740
	530,757	*,m	General Motors Co		0	^
	29,845,445	*,m	General Motors Co		0	^
	13,592,224	*,m	General Motors Co		0	^
	61,921,000	*,e,m	General Motors Co		0	^
	26,439,985	*,m	General Motors Co		0	^
	4,461,000	*,m	General Motors Co		0	^
	18,159,000	*,m	General Motors Co		0	^
	18,106,794	*,e,m	General Motors Co		0	^
	300,000		Gentex Corp		4,650
	21,684		Genuine Parts Co		1,797
	1,084,999		Gilead Sciences, Inc		106,536
	120,000		Global Payments, Inc		13,768
	107,903		Goldman Sachs Group, Inc		18,749
	199,202		Goodyear Tire & Rubber Co		5,843
	31,033		H&R Block, Inc		1,123
	1		H.B. Fuller Co		0	^
	162,443		Halliburton Co		5,742
	356,431		Hanesbrands, Inc		10,315
	21,911		Harley-Davidson, Inc		1,203
	183,128		Harman International Industries, Inc		17,578
	29,495		Harris Corp		2,158
	153,650		Hartford Financial Services Group, Inc		7,034
	21,429		Hasbro, Inc		1,546
	271,821	*	HCA Holdings, Inc		21,028
	75,212		HCP, Inc		2,802
	132,051	*	HD Supply Holdings, Inc		3,779
	160,000	*	Health Net, Inc		9,635
	170,000		Healthsouth Corp		6,523
	14,143	e	Helmerich & Payne, Inc		668
	18,984	*	Henry Schein, Inc		2,520
	34,500	*,e	Herbalife Ltd		1,880
	32,295		Hershey Co		2,967
	1,260,515	*	Hertz Global Holdings, Inc		21,088
	123,849		Hess Corp		6,200
	2,363,298		Hewlett-Packard Co		60,524
	94,359		Hilton Worldwide Holdings, Inc		2,165

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	46,867		HollyFrontier Corp	$	2,289
	298,028	*	Hologic, Inc		11,662
	1,290,314		Home Depot, Inc		149,018
	1,155,800		Honeywell International, Inc		109,443
	21,966		Hormel Foods Corp		1,391
	75,612		Host Marriott Corp		1,195
	1,524,961		Hudson City Bancorp, Inc		15,509
	72,923		Humana, Inc		13,053
	1,208,893		Huntington Bancshares, Inc		12,814
	60,000		Huntington Ingalls		6,429
	60,000		Icahn Enterprises LP		4,021
	12,210	*	IHS, Inc (Class A)		1,416
	37,377		Illinois Tool Works, Inc		3,077
	53,961	*	Illumina, Inc		9,487
	32,660	*	Incyte Corp		3,603
	649,578		Ingersoll-Rand plc		32,979
	45,000		Ingredion, Inc		3,929
	102,920	*,e	Inovalon Holdings, Inc		2,144
	2,258,685		Intel Corp		68,077
	9,179		IntercontinentalExchange Group, Inc		2,157
	191,540		International Business Machines Corp		27,768
	22,849		International Flavors & Fragrances, Inc		2,359
	40,556		International Paper Co		1,533
	564,101		Interpublic Group of Cos, Inc		10,791
	304,358		Intuit, Inc		27,012
	18,788	*	Intuitive Surgical, Inc		8,635
	145,003		Invesco Ltd		4,528
	28,521		Iron Mountain, Inc		885
	316,269	e	iShares MSCI Canada Index Fund		7,274
	1,445,475	e	iShares MSCI EAFE Index Fund		82,855
	8,951	*,e	Isis Pharmaceuticals, Inc		362
	140,000		ITT Corp		4,680
	16,716		J.B. Hunt Transport Services, Inc		1,194
	20,971		J.M. Smucker Co		2,393
	19,031	*	Jacobs Engineering Group, Inc		712
	828,005	*	Jarden Corp		40,473
	98,324	*	Jazz Pharmaceuticals plc		13,058
	350,000	*,e	JC Penney Co, Inc		3,252
	914,618		Johnson & Johnson		85,380
	78,482		Johnson Controls, Inc		3,246
	45,842		Jones Lang LaSalle, Inc		6,591
	2,396,726		JPMorgan Chase & Co		146,128
	1,055,199		Juniper Networks, Inc		27,129
	11,294		Kansas City Southern Industries, Inc		1,026
	40,816		Kellogg Co		2,716
	50,000		Kennametal, Inc		1,245
	9,871		Keurig Green Mountain, Inc		515
	1,226,990		Keycorp		15,963
	53,903		Kimberly-Clark Corp		5,878
	95,258		Kimco Realty Corp		2,327
	394,399		Kinder Morgan, Inc		10,917
	17,066		Kla-Tencor Corp		853

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	86,926		Kohl’s Corp	$	4,026
	360,823		Kraft Heinz Co		25,467
	470,223		Kroger Co		16,961
	81,248		L Brands, Inc		7,323
	10,936		L-3 Communications Holdings, Inc		1,143
	276,446	*	Laboratory Corp of America Holdings		29,986
	221,689		Lam Research Corp		14,483
	51,286		Las Vegas Sands Corp		1,947
	90,000		Lazard Ltd (Class A)		3,897
	114,756		Lear Corp		12,483
	19,026		Legg Mason, Inc		792
	20,090		Leggett & Platt, Inc		829
	17,685		Lennar Corp (Class A)		851
	42,203		Leucadia National Corp		855
	179,781	*	Level 3 Communications, Inc		7,855
	130,000		Lexmark International, Inc (Class A)		3,767
	231,338	*	Liberty Interactive Corp		6,068
	29,905	*	Liberty Media Corp		1,068
	20,555	*	Liberty Media Corp (Class C)		708
	36,400		Liberty Property Trust		1,147
	247,127		Lincoln National Corp		11,729
	29,117		Linear Technology Corp		1,175
	10,677	*	LinkedIn Corp		2,030
	48,653	*	LKQ Corp		1,380
	53,588		Lockheed Martin Corp		11,109
	45,924		Loews Corp		1,660
	205,950	*	Louisiana-Pacific Corp		2,933
	479,254		Lowe’s Companies, Inc		33,030
	316,349	*,e	Lululemon Athletica, Inc		16,023
	134,123		LyondellBasell Industries AF S.C.A		11,180
	15,353	e	M&T Bank Corp		1,872
	141,298		Macerich Co		10,855
	285,177		Macy’s, Inc		14,635
	1	*	Madison Square Garden, Inc		0	^
	80,357	*	Mallinckrodt plc		5,138
	82,901		Manpower, Inc		6,789
	259,549		Marathon Oil Corp		3,997
	190,140		Marathon Petroleum Corp		8,809
	266,537		Marriott International, Inc (Class A)		18,178
	573,837		Marsh & McLennan Cos, Inc		29,966
	13,874		Martin Marietta Materials, Inc		2,108
	641,323		Masco Corp		16,149
	246,427		Mastercard, Inc (Class A)		22,208
	980,895	e	Mattel, Inc		20,658
	34,736		Maxim Integrated Products, Inc		1,160
	37,194		McCormick & Co, Inc		3,057
	288,134		McDonald’s Corp		28,390
	55,153		McGraw-Hill Financial, Inc		4,771
	272,639		McKesson Corp		50,446
	679		MDC Holdings, Inc		18
	31,456		MDU Resources Group, Inc		541
	56,316		Mead Johnson Nutrition Co		3,965

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	93,612	*	Medivation, Inc	$	3,979
	800,535		Medtronic plc		53,588
	190,000		Mentor Graphics Corp		4,680
	1,017,896		Merck & Co, Inc		50,274
	774,985	*,e	Merrimack Pharmaceuticals, Inc		6,595
	1,299,351		Metlife, Inc		61,264
	6,548	*	Mettler-Toledo International, Inc		1,864
	240,000	*	MGIC Investment Corp		2,222
	1,288,794	*	MGM Resorts International		23,778
	50,092	*	Michael Kors Holdings Ltd		2,116
	23,976	e	Microchip Technology, Inc		1,033
	444,417	*	Micron Technology, Inc		6,657
	2,849,575		Microsoft Corp		126,122
	8,000	*	MicroStrategy, Inc (Class A)		1,572
	201,238	*,e	Mobileye NV		9,152
	22,925	*	Mohawk Industries, Inc		4,168
	76,898		Molson Coors Brewing Co (Class B)		6,384
	2,352,829		Mondelez International, Inc		98,513
	139,984		Monsanto Co		11,946
	175,574	*	Monster Beverage Corp		23,727
	56,177		Moody’s Corp		5,517
	2,214,602		Morgan Stanley		69,760
	40,354		Mosaic Co		1,255
	43,345	e	Motorola, Inc		2,964
	23,679		Murphy Oil Corp		573
	789,294	*,e	Mylan NV		31,777
	79,831		Nabors Industries Ltd		754
	21,511		NASDAQ OMX Group, Inc		1,147
	58,379		National Oilwell Varco, Inc		2,198
	80,924		Navient Corp		910
	197,179		NetApp, Inc		5,837
	107,428	*	NetFlix, Inc		11,093
	5,171	*,e	NetSuite, Inc		434
	107,881	e	New York Community Bancorp, Inc		1,948
	950,957		Newell Rubbermaid, Inc		37,763
	172,605		Newmont Mining Corp		2,774
	38,837	*	News Corp		490
	843,569		NextEra Energy, Inc		82,290
	111,489		Nielsen NV		4,958
	322,619		Nike, Inc (Class B)		39,672
	46,520		Noble Energy, Inc		1,404
	41,932		Nordstrom, Inc		3,007
	41,917		Norfolk Southern Corp		3,202
	51,663		Northern Trust Corp		3,521
	196,151		Northrop Grumman Corp		32,551
	374,978	*	Norwegian Cruise Line Holdings Ltd		21,486
	46,438		NRG Energy, Inc		690
	87,092	*	Nuance Communications, Inc		1,426
	44,365		Nucor Corp		1,666
	210,419		Nvidia Corp		5,187
	10,645	*	NVR, Inc		16,236
	871,357		Occidental Petroleum Corp		57,640

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	273,237		Oceaneering International, Inc	$	10,733
	34,007		OGE Energy Corp		930
	52,606		Omnicom Group, Inc		3,467
	24,498		Oneok, Inc		789
	2,261,446		Oracle Corp		81,683
	41,952	*	O’Reilly Automotive, Inc		10,488
	130,000	e	Oshkosh Truck Corp		4,723
	255,968		Owens Corning, Inc		10,728
	31,899		Paccar, Inc		1,664
	18,623		Packaging Corp of America		1,120
	49,046	*	Palo Alto Networks, Inc		8,436
	90,000	*	Parexel International Corp		5,573
	12,650		Parker Hannifin Corp		1,231
	37,421		Patterson Cos, Inc		1,618
	25,020		Paychex, Inc		1,192
	1,223,640	*	PayPal Holdings, Inc		37,982
	105,118		People’s United Financial, Inc		1,654
	85,499		Pepco Holdings, Inc		2,071
	1,240,813		PepsiCo, Inc		117,009
	62,137		Perrigo Co plc		9,772
	4,303,481		Pfizer, Inc		135,172
	94,189		PG&E Corp		4,973
	368,954		Philip Morris International, Inc		29,269
	139,447		Phillips 66		10,715
	21,184		Phillips-Van Heusen Corp		2,160
	400,000	e	Pilgrim’s Pride Corp		8,312
	654,431		Pinnacle Foods, Inc		27,408
	33,697		Pinnacle West Capital Corp		2,161
	159,791		Pioneer Natural Resources Co		19,437
	27,940		Plum Creek Timber Co, Inc		1,104
	78,497		PNC Financial Services Group, Inc		7,002
	8,179		Polaris Industries, Inc		980
	491,321		PPG Industries, Inc		43,084
	139,699		PPL Corp		4,595
	75,000	*,e	PRA Group, Inc		3,969
	36,624		Praxair, Inc		3,731
	14,161		Precision Castparts Corp		3,253
	12,471	*	Priceline.com, Inc		15,425
	29,798		Principal Financial Group		1,411
	752,187		Procter & Gamble Co		54,112
	78,717		Progressive Corp		2,412
	51,173		Prologis, Inc		1,991
	210,361		Prudential Financial, Inc		16,032
	129,725		Public Service Enterprise Group, Inc		5,469
	56,011		Public Storage, Inc		11,854
	331,716		Pulte Homes, Inc		6,259
	2,408	*,e	Puma Biotechnology, Inc		181
	10,124	*	Qiagen NV		261
	27,667	*	Qorvo, Inc		1,246
	206,301		Qualcomm, Inc		11,085
	26,590	*	Quanta Services, Inc		644
	49,290		Quest Diagnostics, Inc		3,030

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	9,820	*	Quintiles Transnational Holdings, Inc	$	683
	34,511	*	Rackspace Hosting, Inc		852
	135,000		Radian Group, Inc		2,148
	14,103		Ralph Lauren Corp		1,666
	27,070	e	Range Resources Corp		869
	15,402		Raymond James Financial, Inc		764
	31,689		Raytheon Co		3,462
	167,397	*	Realogy Holdings Corp		6,299
	48,139	e	Realty Income Corp		2,281
	106,813	*	Red Hat, Inc		7,678
	25,949		Regency Centers Corp		1,613
	14,593	*	Regeneron Pharmaceuticals, Inc		6,788
	164,330		Regions Financial Corp		1,481
	60,000		Reinsurance Group of America, Inc (Class A)		5,435
	25,509	*,e	Rentrak Corp		1,379
	105,771		Republic Services, Inc		4,358
	21,371		Resmed, Inc		1,089
	278,408	*	Reynolds American, Inc		12,325
	187,563	*	Rite Aid Corp		1,139
	20,642		Robert Half International, Inc		1,056
	27,123		Rockwell Automation, Inc		2,752
	280,092		Rockwell Collins, Inc		22,923
	66,476		Roper Industries, Inc		10,417
	86,898		Ross Stores, Inc		4,212
	79,757		Royal Caribbean Cruises Ltd		7,106
	425,253	*	RSP Permian, Inc		8,611
	30,000		Ryder System, Inc		2,221
	639,512	*	Salesforce.com, Inc		44,401
	54,161		SanDisk Corp		2,943
	200,000	*	Sanmina Corp		4,274
	110,388	*	SBA Communications Corp (Class A)		11,562
	33,939		SCANA Corp		1,909
	362,861		Schlumberger Ltd		25,027
	19,626		Scripps Networks Interactive (Class A)		965
	255,948	e	Seagate Technology, Inc		11,466
	217,084		Sealed Air Corp		10,177
	36,477		SEI Investments Co		1,759
	286,017		Sempra Energy		27,664
	25,019	*	Sensata Technologies Holding BV		1,109
	146,100	*	ServiceMaster Global Holdings, Inc		4,902
	260,969	*	ServiceNow, Inc		18,124
	32,304		Sherwin-Williams Co		7,197
	32,147		Sigma-Aldrich Corp		4,466
	12,797		Signet Jewelers Ltd		1,742
	251,977		Simon Property Group, Inc		46,293
	235,199	*	Sirius XM Holdings, Inc		880
	25,300	*	Skechers U.S.A., Inc (Class A)		3,392
	228,552		Skyworks Solutions, Inc		19,246
	24,440	e	SL Green Realty Corp		2,643
	34,009		Snap-On, Inc		5,133
	134,019		Southern Co		5,991
	336,535		Southwest Airlines Co		12,802

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	205,700	*	Southwestern Energy Co	$	2,610
	69,536		Spectra Energy Corp		1,827
	128,400	*	Spirit Aerosystems Holdings, Inc (Class A)		6,207
	22,503	*	Splunk, Inc		1,246
	98,295	*,e	Sprint Corp		377
	67,065		St. Jude Medical, Inc		4,231
	81,619		Stanley Works		7,915
	218,357		Staples, Inc		2,561
	627,955		Starbucks Corp		35,693
	18,027		Starwood Hotels & Resorts Worldwide, Inc		1,198
	145,000	*	Starz-Liberty Capital		5,414
	224,598		State Street Corp		15,095
	220,000		Steel Dynamics, Inc		3,780
	66,370	*	Stericycle, Inc		9,246
	67,188		Stryker Corp		6,322
	54,322	*,e	SunEdison, Inc		390
	108,469		SunTrust Banks, Inc		4,148
	500,000	*	Supervalu, Inc		3,590
	165,774		Symantec Corp		3,228
	208,123	*,e	Synchrony Financial		6,514
	53,729	*	Synopsys, Inc		2,481
	69,402		Sysco Corp		2,705
	24,915		T Rowe Price Group, Inc		1,732
	9,825	*	Tableau Software, Inc		784
	180,000	*	Take-Two Interactive Software, Inc		5,171
	452,810		Target Corp		35,618
	59,660		TD Ameritrade Holding Corp		1,900
	40,706		TEGNA, Inc		911
	28,792	*	Teradata Corp		834
	66,399	*,e	Tesla Motors, Inc		16,494
	54,487		Tesoro Corp		5,298
	155,375		Texas Instruments, Inc		7,694
	82,287		Textron, Inc		3,097
	334,120		Thermo Electron Corp		40,856
	129,754		Thomson Corp (Toronto)		5,215
	176,391		Tiffany & Co		13,621
	85,759		Time Warner Cable, Inc		15,383
	869,873		Time Warner, Inc		59,804
	131,185		TJX Companies, Inc		9,369
	218,298	*	T-Mobile US, Inc		8,690
	38,022	*	Toll Brothers, Inc		1,302
	621	*	TopBuild Corp		19
	37,875		Torchmark Corp		2,136
	50,594		Total System Services, Inc		2,298
	9,905		Towers Watson & Co		1,163
	28,144		Tractor Supply Co		2,373
	17,327	*	TransDigm Group, Inc		3,680
	17,401	e	Transocean Ltd		224
	33,072		Travelers Cos, Inc		3,292
	35,268	*	Trimble Navigation Ltd		579
	12,484	*	TripAdvisor, Inc		787
	271,465	*	Tumi Holdings, Inc		4,783

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	99,412		Twenty-First Century Fox, Inc	$	2,682
	37,096		Twenty-First Century Fox, Inc (Class B)		1,004
	41,698	*	Twitter, Inc		1,123
	1,304,359		Tyco International plc		43,644
	1,067,403		Tyson Foods, Inc (Class A)		46,005
	60,134		UDR, Inc		2,073
	21,433	*	Ulta Salon Cosmetics & Fragrance, Inc		3,501
	26,872	*	Under Armour, Inc (Class A)		2,601
	515,509		Union Pacific Corp		45,576
	101,117	*	United Continental Holdings, Inc		5,364
	94,351		United Parcel Service, Inc (Class B)		9,312
	9,952	*	United Rentals, Inc		598
	140,000	e	United States Steel Corp		1,459
	70,051		United Technologies Corp		6,234
	42,789	*	United Therapeutics Corp		5,616
	323,268		UnitedHealth Group, Inc		37,502
	1,022,113	*	Univar, Inc		18,551
	26,764		Universal Health Services, Inc (Class B)		3,340
	58,635		UnumProvident Corp		1,881
	26,129	*	Urban Outfitters, Inc		768
	268,516		US Bancorp		11,012
	229,805	*,e	USG Corp		6,117
	194,120	*	Valeant Pharmaceuticals International, Inc		34,649
	209,424		Valero Energy Corp		12,586
	50,000	e	Vanguard FTSE Developed Markets ETF		1,782
	46,092	*	Vantiv, Inc		2,070
	18,403	*	Varian Medical Systems, Inc		1,358
	111,713		Ventas, Inc		6,263
	90,000	*	Verint Systems, Inc		3,884
	21,716	*,e	VeriSign, Inc		1,532
	99,571	*	Verisk Analytics, Inc		7,359
	1,859,892		Verizon Communications, Inc		80,924
	116,686	*	Vertex Pharmaceuticals, Inc		12,152
	303,853		VF Corp		20,726
	171,260		Viacom, Inc (Class B)		7,390
	1,949,045		Visa, Inc (Class A)		135,770
	337,592	*	VMware, Inc (Class A)		26,599
	63,200		Vornado Realty Trust		5,715
	164,688		Voya Financial, Inc		6,385
	29,783		Vulcan Materials Co		2,657
	117,080		W.R. Berkley Corp		6,366
	7,346	e	W.W. Grainger, Inc		1,579
	48,767	*	WABCO Holdings, Inc		5,112
	186,739		Walgreens Boots Alliance, Inc		15,518
	395,319		Wal-Mart Stores, Inc		25,632
	652,960		Walt Disney Co		66,732
	76,742		Waste Management, Inc		3,823
	35,209	*	Waters Corp		4,162
	1,116,128	*	Weatherford International Ltd		9,465
	108,988		WEC Energy Group, Inc		5,691
	4,545,020		Wells Fargo & Co		233,387
	86,477		Welltower, Inc		5,856

231

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	173,270		Western Digital Corp	$	13,765
	79,290		Western Union Co		1,456
	53,287		Westinghouse Air Brake Technologies Corp		4,692
	14,424		Westlake Chemical Corp		748
	144,690		WestRock Co		7,443
	54,515		Weyerhaeuser Co		1,490
	7,933		Whirlpool Corp		1,168
	298,479	*	WhiteWave Foods Co (Class A)		11,984
	26,517	*	Whiting Petroleum Corp		405
	81,451		Whole Foods Market, Inc		2,578
	130,605		Williams Cos, Inc		4,813
	52,048		Willis Group Holdings plc		2,132
	105,248	*	Workday, Inc		7,247
	90,000	*	WR Grace & Co		8,375
	51,765		Wyndham Worldwide Corp		3,722
	10,457		Wynn Resorts Ltd		555
	167,992		Xcel Energy, Inc		5,949
	711,395		Xerox Corp		6,922
	57,816		Xilinx, Inc		2,451
	26,762		Xylem, Inc		879
	881,445	*	Yahoo!, Inc		25,483
	89,711		Yum! Brands, Inc		7,172
	3,905	*,e	Zillow Group, Inc		112
	7,810	*,e	Zillow Group, Inc (Class C)		211
	26,791		Zimmer Holdings, Inc		2,516
	445,246		Zoetis Inc		18,335
			TOTAL UNITED STATES		10,167,051
			TOTAL COMMON STOCKS		17,640,559
			(Cost $17,207,601)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	681,005	m	BGP Holdings plc		0
			TOTAL AUSTRALIA		0
SPAIN - 0.0%
	83,539	e,m	Banco Popular Espanol S.A.		2
			TOTAL SPAIN		2
UNITED STATES - 0.0%
	21,280		Kinder Morgan, Inc		19
			TOTAL UNITED STATES		19
			TOTAL RIGHTS / WARRANTS		21
			(Cost $42)

232

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
SHORT-TERM INVESTMENTS - 3.6%
GOVERNMENT AGENCY DEBT - 0.6%
$	15,000,000	d	Federal Home Loan Bank (FHLB)		0.108	%	10/22/15	$	15,000
	11,000,000	d	FHLB		0.130		10/23/15		11,000
	7,300,000		FHLB		0.075		11/09/15		7,299
	35,000,000	d	FHLB		0.080		12/16/15		34,992
	25,000,000	d	Federal National Mortgage Association (FNMA)		0.150		11/17/15		24,998
	15,000,000	d	FNMA		0.175		11/18/15		14,999
			TOTAL GOVERNMENT AGENCY DEBT						108,288
TREASURY DEBT - 0.3%
	14,000,000	d	United States Treasury Bill		0.082		11/12/15		14,000
	25,000,000	d	United States Treasury Bill		0.103		12/31/15		24,999
			TOTAL TREASURY DEBT						38,999
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.7%
CERTIFICATE OF DEPOSIT - 0.1%
	25,000,000		CIBC Bank and Trust Co		0.020		10/01/15		25,000
			TOTAL CERTIFICATE OF DEPOSIT						25,000
REPURCHASE AGREEMENT - 2.4%
	35,000,000	n	Barclays		0.060		10/01/15		35,000
	20,000,000	o	BNP		0.080		10/01/15		20,000
	65,000,000	p	JP Morgan Chase		0.100		10/01/15		65,000
	114,000,000	q	Morgan Stanley		0.110		10/01/15		114,000
	136,000,000	r	Nomura Securities		0.140		10/01/15		136,000
	65,000,000	s	Royal Bank of Scotland		0.080		10/06/15		65,000
			TOTAL REPURCHASE AGREEMENT						435,000
VARIABLE RATE SECURITIES - 0.2%
	772,365	i	Granite Master Issuer plc 2006		0.031		12/20/50		769
	662,028	i	Granite Master Issuer plc 2007		0.020		12/20/50		658
	870,320	i	Puma Finance Ltd		0.027		02/21/38		862
	30,000,000	i	SLM Student Loan Trust 2007		0.118		01/25/19		29,768
			TOTAL VARIABLE RATE SECURITIES						32,057
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						492,057
			TOTAL SHORT-TERM INVESTMENTS						639,344
			(Cost $639,520)
			TOTAL INVESTMENTS - 102.4%						18,279,924
			(Cost $17,847,163)
			OTHER ASSETS & LIABILITIES, NET - (2.4)%						(424,801	)
			NET ASSETS - 100.0%					$	17,855,123

233

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

	Abbreviation(s):
ADR	American Depositary Receipt
ETF	Exchange Traded Fund
GDR	Global Depositary Receipt
REIT	Real Estate Investment Trust

*	Non-income producing
^	Amount represents less than $1,000.
d	All or a portion of these securities have been segregated to cover margin 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 $465,387,000.
g	Security is 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 9/30/15 the aggregate value of these securities was $46,514,000, or 0.3% of net assets.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
m	Indicates a security that has been deemed illiquid.
n	Agreement with Barclays, 0.06% dated 9/30/15 to be repurchased at $35,000,000 on 10/01/15, collateralized by U.S. Government Agency Securities valued at $35,700,000.
o	Agreement with BNP, 0.08% dated 9/30/15 to be repurchased at $20,000,000 on 10/01/15, collateralized by U.S. Government Agency Securities valued at $20,400,000.
p	Agreement with JP Morgan Chase, 0.10% dated 9/30/15 to be repurchased at $65,000,000 on 10/01/15, collateralized by U.S. Government Agency Securities valued at $66,305,000.
q	Agreement with Morgan Stanley, 0.11% dated 9/30/15 to be repurchased at $114,000,000 on 10/01/15, collateralized by U.S. Government Agency Securities valued at $116,280,000.
r	Agreement with Nomura Securities, 0.14% dated 9/30/15 to be repurchased at $136,000,000 on 10/01/15, collateralized by U.S. Government Agency Securities valued at $138,720,000.
s	Agreement with Royal Bank of Scotland, 0.08% dated 9/30/15 to be repurchased at $65,000,000 on 10/06/15, collateralized by U.S. Government Agency Securities valued at $66,304,000.
	Cost amounts are in thousands.

234

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

September 30, 2015

	VALUE			% OF
SECTOR	(000)			ASSETS
FINANCIALS	$	3,555,101			19.9	%
CONSUMER DISCRETIONARY		2,939,388			16.5
INFORMATION TECHNOLOGY		2,677,323			15.0
HEALTH CARE		2,525,504			14.1
INDUSTRIALS		1,888,350			10.6
CONSUMER STAPLES		1,514,982			8.5
ENERGY		1,031,486			5.8
MATERIALS		700,886			3.9
UTILITIES		453,916			2.5
TELECOMMUNICATION SERVICES		353,644			2.0
SHORT-TERM INVESTMENTS		639,344			3.6
OTHER ASSETS & LIABILITES, NET		(424,801	)		(2.4	)
NET ASSETS	$	17,855,123			100.0	%

235

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND

GROWTH ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2015

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.3%
AUTOMOBILES & COMPONENTS - 2.2%
	90,766		BorgWarner, Inc	$	3,775
	2,069,297		Delphi Automotive plc		157,349
	1,239,200		General Motors Co		37,201
	796,420		Gentex Corp		12,344
	453,300		Goodyear Tire & Rubber Co		13,295
	46,831		Harley-Davidson, Inc		2,571
	58,989		Johnson Controls, Inc		2,440
	525,484		Lear Corp		57,162
	440,800		Magna International, Inc (Class A) (NY)		21,163
	165,056		Renault S.A.		11,909
	445,969	*,e	Tesla Motors, Inc		110,779
	226,677		Thor Industries, Inc		11,742
	17,322	*	Visteon Corp		1,754
			TOTAL AUTOMOBILES & COMPONENTS		443,484
BANKS - 0.2%
	75,745	*	Signature Bank		10,420
	67,037	*	SVB Financial Group		7,745
	548,500		Wells Fargo & Co		28,165
			TOTAL BANKS		46,330
CAPITAL GOODS - 5.3%
	1,033,451		3M Co		146,512
	123,736		A.O. Smith Corp		8,066
	56,165		Acuity Brands, Inc		9,861
	144,896	*	Aecom Technology Corp		3,986
	2,236		Air Lease Corp		69
	39,356		Allegion plc		2,269
	571,394		Allison Transmission Holdings, Inc		15,251
	96,733		Ametek, Inc		5,061
	8,284	*	Armstrong World Industries, Inc		395
	4,379	*	Babcock & Wilcox Enterprises, Inc		74
	41,502		BE Aerospace, Inc		1,822
	1,167,930		Boeing Co		152,940
	136,295		BWX Technologies, Inc		3,593
	5,836		Carlisle Cos, Inc		510
	43,205	e	Caterpillar, Inc		2,824
	270,900	e	Chicago Bridge & Iron Co NV		10,744
	55,489		Cummins, Inc		6,025
	119,228		Danaher Corp		10,159
	24,720	e	Deere & Co		1,829
	47,264	e	Donaldson Co, Inc		1,327
	184,121		Emerson Electric Co		8,133
	118,455	e	Fastenal Co		4,337

236

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	23,474		Flowserve Corp	$	966
	381,488		Fortune Brands Home & Security, Inc		18,109
	192,597		General Dynamics Corp		26,569
	22,593		Graco, Inc		1,514
	265,816	*	HD Supply Holdings, Inc		7,608
	39,639		Hexcel Corp		1,778
	1,357,662		Honeywell International, Inc		128,557
	62,697		Hubbell, Inc (Class B)		5,326
	198,374		Huntington Ingalls		21,256
	29,240		IDEX Corp		2,085
	119,355		Illinois Tool Works, Inc		9,824
	476,022		Ingersoll-Rand plc		24,168
	15,789		Lennox International, Inc		1,789
	26,935		Lincoln Electric Holdings, Inc		1,412
	223,399		Lockheed Martin Corp		46,313
	757,636		Masco Corp		19,077
	244,594	*	Middleby Corp		25,729
	6,011	e	MSC Industrial Direct Co (Class A)		367
	23,436		Nordson Corp		1,475
	499,716		Northrop Grumman Corp		82,928
	128,034		Paccar, Inc		6,680
	121,840		Parker Hannifin Corp		11,855
	10,860		Precision Castparts Corp		2,495
	12,104	*	Quanta Services, Inc		293
	977		Regal-Beloit Corp		55
	99,436		Rockwell Automation, Inc		10,090
	245,067		Rockwell Collins, Inc		20,056
	391,837		Roper Industries, Inc		61,401
	107,096		Snap-On, Inc		16,165
	22,049	*,e	SolarCity Corp		942
	505,059	*	Spirit Aerosystems Holdings, Inc (Class A)		24,415
	5,817		Stanley Works		564
	854,525		Textron, Inc		32,164
	21,412		Toro Co		1,510
	85,348	*	TransDigm Group, Inc		18,129
	238,346	*	United Rentals, Inc		14,313
	32,703		United Technologies Corp		2,910
	692,633	*	Univar, Inc		12,571
	499,500	*,e	USG Corp		13,297
	523	e	Valmont Industries, Inc		50
	26,779	e	W.W. Grainger, Inc		5,758
	21,544	*	WABCO Holdings, Inc		2,258
	9,910		Watsco, Inc		1,174
	112,610		Westinghouse Air Brake Technologies Corp		9,915
			TOTAL CAPITAL GOODS		1,091,697
COMMERCIAL & PROFESSIONAL SERVICES - 1.8%
	38,016		Cintas Corp		3,260
	14,342	*	Clean Harbors, Inc		631
	649,228	e	CNH Industrial NV (NYSE)		4,233
	49,055	*	Copart, Inc		1,614
	47,075		Covanta Holding Corp		821

237

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	4,387		Dun & Bradstreet Corp	$	461
	46,874		Equifax, Inc		4,555
	68,448	*	IHS, Inc (Class A)		7,940
	19,593		KAR Auction Services, Inc		695
	192,100		Manpower, Inc		15,731
	2,010,336		Nielsen NV		89,400
	272,705		Pitney Bowes, Inc		5,413
	45,048		R.R. Donnelley & Sons Co		656
	55,562		Robert Half International, Inc		2,843
	38,974		Rollins, Inc		1,047
	508,511	*	Stericycle, Inc		70,841
	88,376		Towers Watson & Co		10,374
	10,046	*	TransUnion		252
	147,406		Tyco International plc		4,932
	1,883,597	*	Verisk Analytics, Inc		139,217
	102,927		Waste Connections, Inc		5,000
	13,797		Waste Management, Inc		687
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		370,603
CONSUMER DURABLES & APPAREL - 2.9%
	26,001		Brunswick Corp		1,245
	20,693		Carter’s, Inc		1,876
	97,629		Coach, Inc		2,824
	544,603		DR Horton, Inc		15,989
	202,936	*,e	Fossil Group, Inc		11,340
	81,600	e	Garmin Ltd		2,928
	89,683	*,e	GoPro, Inc		2,800
	725,553		Hanesbrands, Inc		20,997
	256,648		Harman International Industries, Inc		24,636
	68,406		Hasbro, Inc		4,935
	748,006	*	Jarden Corp		36,562
	47,418	*	Kate Spade & Co		906
	54,468		Leggett & Platt, Inc		2,247
	1,565		Lennar Corp (B Shares)		62
	28,041		Lennar Corp (Class A)		1,350
	44,194	*,e	Lululemon Athletica, Inc		2,238
	206,841	*	Michael Kors Holdings Ltd		8,737
	17,826	*	Mohawk Industries, Inc		3,241
	55,706		Newell Rubbermaid, Inc		2,212
	2,108,662		Nike, Inc (Class B)		259,302
	23,772	*	NVR, Inc		36,257
	26,523	e	Polaris Industries, Inc		3,179
	564,700		Pulte Homes, Inc		10,656
	1,353		Ralph Lauren Corp		160
	92,837	*	Skechers U.S.A., Inc (Class A)		12,448
	940,800	*	Sony Corp		23,061
	420,171	*	Tempur-Pedic International, Inc		30,013
	22,584	*	Toll Brothers, Inc		773
	1,040,900	*,e	TomTom NV		10,656
	12,693	*	TopBuild Corp		393
	19,396	e	Tupperware Corp		960
	71,646	*	Under Armour, Inc (Class A)		6,934

238

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	852,116		VF Corp	$	58,123
	3,415	*	Vista Outdoor, Inc		152
	1,861		Whirlpool Corp		274
			TOTAL CONSUMER DURABLES & APPAREL		600,466
CONSUMER SERVICES - 4.2%
	1,809,414		ARAMARK Holdings Corp		53,631
	221,847		Brinker International, Inc		11,685
	15,429	*	Chipotle Mexican Grill, Inc (Class A)		11,113
	12,467		Choice Hotels International, Inc		594
	10,296		Darden Restaurants, Inc		706
	21,720		Domino’s Pizza, Inc		2,344
	37,555	e	Dunkin Brands Group, Inc		1,840
	988,740		Extended Stay America, Inc		16,591
	102,738		H&R Block, Inc		3,719
	261,853		Hilton Worldwide Holdings, Inc		6,007
	420,100	*,e	Hyatt Hotels Corp		19,787
	26,061	e	International Game Technology plc		399
	708,800		Interval Leisure Group, Inc		13,013
	1,203,421		Las Vegas Sands Corp		45,694
	83,908		Marriott International, Inc (Class A)		5,722
	663,105		McDonald’s Corp		65,336
	4,664,237	g	Merlin Entertainments plc		26,281
	7,424	*	MGM Resorts International		137
	2,953,908	*	Norwegian Cruise Line Holdings Ltd		169,259
	9,853	*	Panera Bread Co (Class A)		1,906
	368,800		Restaurant Brands International, Inc		13,247
	79,606		Service Corp International		2,157
	525,001	*	ServiceMaster Global Holdings, Inc		17,614
	29,574		Six Flags Entertainment Corp		1,354
	4,587,613		Starbucks Corp		260,760
	68,542		Starwood Hotels & Resorts Worldwide, Inc		4,557
	283,879		Wyndham Worldwide Corp		20,411
	28,597		Wynn Resorts Ltd		1,519
	1,083,689		Yum! Brands, Inc		86,641
			TOTAL CONSUMER SERVICES		864,024
DIVERSIFIED FINANCIALS - 3.8%
	97,729	*	Affiliated Managers Group, Inc		16,711
	14,657	*	Ally Financial, Inc		299
	66,354		American Express Co		4,919
	468,004		Ameriprise Financial, Inc		51,073
	14,602		Artisan Partners Asset Management, Inc		514
	49,822		Bank of New York Mellon Corp		1,950
	15,789		BlackRock, Inc		4,697
	630,100		Blackstone Group LP		19,955
	32,724		CBOE Holdings, Inc		2,195
	2,194,917		Charles Schwab Corp		62,687
	53,896	*,e	Credit Acceptance Corp		10,610
	48,467		Eaton Vance Corp		1,620
	38,556		Federated Investors, Inc (Class B)		1,114
	66,060		Interactive Brokers Group, Inc (Class A)		2,607

239

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	373,080		IntercontinentalExchange Group, Inc	$	87,670
	423,946		Invesco Ltd		13,240
	1,259,500	e	iShares Russell 1000 Growth Index Fund		117,134
	345,233		Lazard Ltd (Class A)		14,949
	13,138		Legg Mason, Inc		547
	507,468	*,e	LendingClub Corp		6,714
	18,111		Leucadia National Corp		367
	33,914	e	LPL Financial Holdings, Inc		1,349
	1,319,145		McGraw-Hill Financial, Inc		114,106
	988,618		Moody’s Corp		97,082
	2,050,578		Morgan Stanley		64,593
	140,926		MSCI, Inc (Class A)		8,379
	73,855		NorthStar Asset Management Group, Inc		1,061
	144,946		Santander Consumer USA Holdings, Inc		2,960
	115,910		SEI Investments Co		5,590
	148,899		SLM Corp		1,102
	1,686,000	*,e	Synchrony Financial		52,772
	104,139		T Rowe Price Group, Inc		7,238
	93,575		TD Ameritrade Holding Corp		2,979
	32,517		Waddell & Reed Financial, Inc (Class A)		1,131
			TOTAL DIVERSIFIED FINANCIALS		781,914
ENERGY - 0.9%
	137,400		Baker Hughes, Inc		7,150
	165,586		Cabot Oil & Gas Corp		3,620
	588,039	*	Concho Resources, Inc		57,804
	179,152	*	Continental Resources, Inc		5,190
	2,218	e	CVR Energy, Inc		91
	140,400	*	Diamondback Energy, Inc		9,070
	306,119		EOG Resources, Inc		22,286
	58,384	*	FMC Technologies, Inc		1,810
	11,933		HollyFrontier Corp		583
	162,860		Marathon Petroleum Corp		7,545
	27,556	*	Memorial Resource Development Corp		485
	4,455		Oceaneering International, Inc		175
	38,642		Oneok, Inc		1,244
	117,200		Pioneer Natural Resources Co		14,256
	2,174	e	Range Resources Corp		70
	2,954	e	RPC, Inc		26
	383,300	*	RSP Permian, Inc		7,762
	176,415		Schlumberger Ltd		12,167
	11,245		Targa Resources Investments, Inc		579
	4,149		Teekay Corp		123
	36,957		Tesoro Corp		3,594
	78,600		Valero Energy Corp		4,724
	687,668		Williams Cos, Inc		25,341
	5,374		World Fuel Services Corp		192
			TOTAL ENERGY		185,887
FOOD & STAPLES RETAILING - 1.8%
	851,664		Costco Wholesale Corp		123,125
	1,258,558		CVS Health Corp		121,426

240

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	2,690,689		Kroger Co	$	97,053
	230,280	*	Rite Aid Corp		1,398
	58,989	*,e	Sprouts Farmers Market, Inc		1,244
	73,654		Sysco Corp		2,870
	304,847		Walgreens Boots Alliance, Inc		25,333
	132,565		Whole Foods Market, Inc		4,196
			TOTAL FOOD & STAPLES RETAILING		376,645
FOOD, BEVERAGE & TOBACCO - 4.1%
	1,614,780		Altria Group, Inc		87,844
	353,900		Associated British Foods plc		17,911
	1,038,756	*,e	Blue Buffalo Pet Products, Inc		18,604
	9,543	e	Brown-Forman Corp		1,021
	46,254		Brown-Forman Corp (Class B)		4,482
	40,057		Campbell Soup Co		2,030
	2,346,224		Coca-Cola Co		94,130
	300,716		Coca-Cola Enterprises, Inc		14,540
	23,890		ConAgra Foods, Inc		968
	70,902		Constellation Brands, Inc (Class A)		8,878
	515,193		Dr Pepper Snapple Group, Inc		40,726
	63,784		Flowers Foods, Inc		1,578
	237,774		General Mills, Inc		13,346
	40,539	*	Hain Celestial Group, Inc		2,092
	57,670		Hershey Co		5,299
	147,811		Hormel Foods Corp		9,358
	224,206		Ingredion, Inc		19,575
	89,376		Kellogg Co		5,948
	51,767		Keurig Green Mountain, Inc		2,699
	337,853		Kraft Heinz Co		23,846
	50,026		McCormick & Co, Inc		4,111
	182,792		Mead Johnson Nutrition Co		12,868
	1,401,254	*	Monster Beverage Corp		189,366
	1,007,863		PepsiCo, Inc		95,041
	410,591		Philip Morris International, Inc		32,572
	702,437	e	Pilgrim’s Pride Corp		14,597
	476,057		Pinnacle Foods, Inc		19,937
	329,648	*	Reynolds American, Inc		14,593
	532,559		SABMiller plc		30,158
	635,233		Suntory Beverage & Food Ltd		24,405
	130,483		Tyson Foods, Inc (Class A)		5,624
	394,592	*	WhiteWave Foods Co (Class A)		15,843
			TOTAL FOOD, BEVERAGE & TOBACCO		833,990
HEALTH CARE EQUIPMENT & SERVICES - 4.6%
	21,260	*	Acadia Healthcare Co, Inc		1,409
	479,867		Aetna Inc		52,502
	33,216	*	Align Technology, Inc		1,885
	23,135	*	Allscripts Healthcare Solutions, Inc		287
	401,207		AmerisourceBergen Corp		38,111
	367,916		Anthem, Inc		51,508
	15,074	*,e	athenahealth, Inc		2,010
	64,439		Bard (C.R.), Inc		12,006

241

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	159,517	*	Baxter International, Inc	$	5,240
	103,414		Becton Dickinson & Co		13,719
	43,015	*	Boston Scientific Corp		706
	16,361	*	Brookdale Senior Living, Inc		376
	394,117		Cardinal Health, Inc		30,276
	467,170	*	Centene Corp		25,335
	1,051,511	*	Cerner Corp		63,049
	307,143		Cigna Corp		41,470
	12,967		Cooper Cos, Inc		1,930
	227,550	*	DaVita, Inc		16,459
	92,423		Dentsply International, Inc		4,674
	31,447	*	DexCom, Inc		2,700
	75,157	*	Edwards Lifesciences Corp		10,685
	73,911	*	Envision Healthcare Holdings, Inc		2,719
	643,480	*	Express Scripts Holding Co		52,096
	262,286	*	HCA Holdings, Inc		20,290
	82,835	*	Health Net, Inc		4,988
	362,800		Healthsouth Corp		13,921
	32,972	*	Henry Schein, Inc		4,376
	21,419		Hill-Rom Holdings, Inc		1,114
	656,885	*	Hologic, Inc		25,704
	55,369		Humana, Inc		9,911
	403,980	*	Idexx Laboratories, Inc		29,995
	281,881	*	IMS Health Holdings, Inc		8,203
	10,431	*,e	Inovalon Holdings, Inc		217
	203,507	*	Intuitive Surgical, Inc		93,528
	20,448	*	Inverness Medical Innovations, Inc		985
	104,770	*	Laboratory Corp of America Holdings		11,364
	150,679	*	LifePoint Hospitals, Inc		10,683
	465,430		McKesson Corp		86,118
	585,591	*	Olympus Corp		18,269
	17,366		Patterson Cos, Inc		751
	22,199	*	Pediatrix Medical Group, Inc		1,705
	569,496	*	Premier, Inc		19,574
	55,948		Resmed, Inc		2,851
	21,874	*	Sirona Dental Systems, Inc		2,042
	290,255		St. Jude Medical, Inc		18,312
	68,380		Stryker Corp		6,435
	39,105	*	Tenet Healthcare Corp		1,444
	778,836		UnitedHealth Group, Inc		90,353
	226,098		Universal Health Services, Inc (Class B)		28,219
	91,484	*	Varian Medical Systems, Inc		6,750
	30,057	*	VCA Antech, Inc		1,582
	29,212	*,e	Veeva Systems, Inc		684
	4,345		Zimmer Holdings, Inc		408
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		951,928
HOUSEHOLD & PERSONAL PRODUCTS - 1.2%
	51,568		Church & Dwight Co, Inc		4,327
	40,974		Clorox Co		4,734
	433,426		Colgate-Palmolive Co		27,505
	199,754	e	Coty, Inc		5,405

242

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	2,373,871		Estee Lauder Cos (Class A)	$	191,524
	83,254	*,e	Herbalife Ltd		4,537
	115,197		Kimberly-Clark Corp		12,561
	5,064	e	Nu Skin Enterprises, Inc (Class A)		209
	34,696		Spectrum Brands, Inc		3,175
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		253,977
INSURANCE - 0.6%
	215,919		ACE Ltd		22,326
	119,800		Allstate Corp		6,977
	884	e	Amtrust Financial Services, Inc		56
	112,344		Aon plc		9,955
	38,342		Arthur J. Gallagher & Co		1,583
	48,258	*	Berkshire Hathaway, Inc (Class B)		6,293
	8,759		Erie Indemnity Co (Class A)		727
	6,478	*	Markel Corp		5,194
	435,761		Marsh & McLennan Cos, Inc		22,755
	458,300		Metlife, Inc		21,609
	145,900		Travelers Cos, Inc		14,521
			TOTAL INSURANCE		111,996
MATERIALS - 2.9%
	70,654		Air Products & Chemicals, Inc		9,014
	6,289		Airgas, Inc		562
	572,900		Albemarle Corp		25,265
	3,176		Aptargroup, Inc		210
	30,440		Ashland, Inc		3,063
	185,021		Avery Dennison Corp		10,467
	41,489	*	Axalta Coating Systems Ltd		1,051
	296,114		Ball Corp		18,418
	4,368		Bemis Co, Inc		173
	1,511,349	*	Berry Plastics Group, Inc		45,446
	4,475		Celanese Corp (Series A)		265
	95,207		CF Industries Holdings, Inc		4,275
	23,536		Chemours Co		152
	13,848		Compass Minerals International, Inc		1,085
	557,499	*	Crown Holdings, Inc		25,506
	2,878		Cytec Industries, Inc		213
	380,924		Dow Chemical Co		16,151
	264,631		Du Pont (E.I.) de Nemours & Co		12,755
	19,352		Eagle Materials, Inc		1,324
	94,426		Eastman Chemical Co		6,111
	127,524		Ecolab, Inc		13,992
	39,768		FMC Corp		1,349
	1,310,390		Graphic Packaging Holding Co		16,760
	47,201		Huntsman Corp		457
	32,380		International Flavors & Fragrances, Inc		3,344
	289,164		International Paper Co		10,928
	678,983		LyondellBasell Industries AF S.C.A		56,600
	3,886		Martin Marietta Materials, Inc		590
	1,082,185		Monsanto Co		92,354
	3,275		NewMarket Corp		1,169

243

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	4,178	*	Owens-Illinois, Inc	$	87
	40,273		Packaging Corp of America		2,423
	8,089	*	Platform Specialty Products Corp		102
	1,287,892		PPG Industries, Inc		112,935
	105,002		Praxair, Inc		10,696
	1,413		Royal Gold, Inc		66
	54,800		RPM International, Inc		2,296
	16,660		Scotts Miracle-Gro Co (Class A)		1,013
	215,069		Sealed Air Corp		10,082
	216,942		Sherwin-Williams Co		48,330
	18,429		Sigma-Aldrich Corp		2,560
	16,706		Silgan Holdings, Inc		869
	15,351	e	Southern Copper Corp (NY)		410
	234,766		Steel Dynamics, Inc		4,033
	8,043		Tahoe Resources, Inc		62
	33,421		Valspar Corp		2,402
	7,148		Vulcan Materials Co		638
	162,800		Westlake Chemical Corp		8,448
	232,102		WestRock Co		11,939
	29,932	*	WR Grace & Co		2,785
			TOTAL MATERIALS		601,225
MEDIA - 4.7%
	342,940	*	AMC Networks, Inc		25,093
	11,995		Cablevision Systems Corp (Class A)		390
	197,006		CBS Corp (Class B)		7,861
	30,294	*,e	Charter Communications, Inc		5,327
	44,869		Cinemark Holdings, Inc		1,458
	5,821		Clear Channel Outdoor Holdings, Inc (Class A)		42
	6,347,979		Comcast Corp (Class A)		361,073
	259,656	e	Comcast Corp (Special Class A)		14,863
	58,279	*,e	Discovery Communications, Inc (Class A)		1,517
	205,240	*	Discovery Communications, Inc (Class C)		4,985
	147,728	*	DISH Network Corp (Class A)		8,618
	1,503,158		Interpublic Group of Cos, Inc		28,755
	164,119	e	Lions Gate Entertainment Corp		6,040
	59,900	*	Live Nation, Inc		1,440
	24,066	*	Madison Square Garden, Inc		1,736
	6,597		Morningstar, Inc		529
	97,634		Omnicom Group, Inc		6,434
	34,046	e	Regal Entertainment Group (Class A)		636
	120,963	e	Scripps Networks Interactive (Class A)		5,950
	3,362,936	*	Sirius XM Holdings, Inc		12,577
	373,369	*	Starz-Liberty Capital		13,942
	143,002		Time Warner Cable, Inc		25,650
	1,246,825		Time Warner, Inc		85,719
	434,325		Tribune Co		15,462
	466,789		Twenty-First Century Fox, Inc		12,594
	134,671		Twenty-First Century Fox, Inc (Class B)		3,646
	4,247		Viacom, Inc		188
	1,066,232		Viacom, Inc (Class B)		46,008
	2,513,687		Walt Disney Co		256,899
			TOTAL MEDIA		955,432

244

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 12.0%
	2,240,566		AbbVie, Inc	$	121,909
	10,628	*,e	Agios Pharmaceuticals, Inc		750
	32,243	*	Akorn, Inc		919
	614,356	*	Alexion Pharmaceuticals, Inc		96,079
	48,856	*	Alkermes plc		2,866
	1,058,143	*	Allergan plc		287,614
	23,887	*	Alnylam Pharmaceuticals, Inc		1,920
	1,263,275		Amgen, Inc		174,736
	326,019	*	Baxalta, Inc		10,273
	660,392	*	Biogen Idec, Inc		192,709
	377,147	*	BioMarin Pharmaceutical, Inc		39,721
	6,312		Bio-Techne Corp		584
	374,644	*	Biovail Corp		66,829
	13,709	*	Bluebird Bio, Inc		1,173
	1,922,651		Bristol-Myers Squibb Co		113,821
	187,052	*	Bruker BioSciences Corp		3,073
	3,012,545	*	Celgene Corp		325,867
	62,281	*	Charles River Laboratories International, Inc		3,956
	2,076,728		Eli Lilly & Co		173,801
	91,001	*	Endo International plc		6,305
	3,380,085		Gilead Sciences, Inc		331,891
	450,000		H Lundbeck AS		11,998
	463,137	*	Illumina, Inc		81,429
	207,551	*	Incyte Corp		22,899
	16,760	*,e	Intercept Pharmaceuticals, Inc		2,780
	16,694	*,e	Intrexon Corp		531
	46,977	*,e	Isis Pharmaceuticals, Inc		1,899
	38,458	*	Jazz Pharmaceuticals plc		5,108
	292,538		Johnson & Johnson		27,308
	43,506	*,e	Juno Therapeutics, Inc		1,770
	60,837	*	Mallinckrodt plc		3,890
	264,316	*	Medivation, Inc		11,233
	129,224		Merck & Co, Inc		6,382
	11,210	*	Mettler-Toledo International, Inc		3,192
	702,842	*,e	Mylan NV		28,296
	356,900		Novo Nordisk AS		19,260
	124,385	*,e	Opko Health, Inc		1,046
	122,617	*	PerkinElmer, Inc		5,636
	63,502		Perrigo Co plc		9,987
	342,605		Pfizer, Inc		10,761
	10,288	*,e	Puma Biotechnology, Inc		775
	131,120	*	Quintiles Transnational Holdings, Inc		9,122
	74,210	*	Regeneron Pharmaceuticals, Inc		34,518
	39,036	*,e	Seattle Genetics, Inc		1,505
	581,756		Thermo Electron Corp		71,137
	151,251	*	United Therapeutics Corp		19,850
	383,691	*	Vertex Pharmaceuticals, Inc		39,958
	6,369	*	VWR Corp		164
	105,659	*	Waters Corp		12,490

245

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	1,655,497		Zoetis Inc	$	68,173
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		2,469,893
REAL ESTATE - 1.7%
	335,651		American Tower Corp		29,531
	56,079		Boston Properties, Inc		6,640
	3,273,517	*	CBRE Group, Inc		104,752
	2,261		Columbia Property Trust, Inc		52
	271,233		Crown Castle International Corp		21,392
	32,064	e	Digital Realty Trust, Inc		2,094
	15,928		Empire State Realty Trust, Inc		271
	22,805		Equinix, Inc		6,235
	123,708		Equity Lifestyle Properties, Inc		7,246
	152,519		Extra Space Storage, Inc		11,768
	27,514		Federal Realty Investment Trust		3,754
	5,048		Gaming and Leisure Properties, Inc		150
	6,599,945	e	Global Logistic Properties		9,489
	5,047		Healthcare Trust of America, Inc		124
	6,598	*	Howard Hughes Corp		757
	33,951		Iron Mountain, Inc		1,053
	144,635		Jones Lang LaSalle, Inc		20,794
	31,599		Lamar Advertising Co		1,649
	20,444		Omega Healthcare Investors, Inc		719
	29,619		Plum Creek Timber Co, Inc		1,170
	74,968		Post Properties, Inc		4,370
	92,624		Public Storage, Inc		19,602
	1,402,509	*	Realogy Holdings Corp		52,776
	221,074		Simon Property Group, Inc		40,616
	36,360		Tanger Factory Outlet Centers, Inc		1,199
	7,989		Taubman Centers, Inc		552
	63,929		Welltower, Inc		4,329
	18,315		Weyerhaeuser Co		501
			TOTAL REAL ESTATE		353,585
RETAILING - 9.9%
	53,946		Aaron’s, Inc		1,948
	52,921		Advance Auto Parts, Inc		10,030
	1,238,653	*	Amazon.com, Inc		634,054
	411,000	*	ASOS plc		17,227
	298,269	*	Autonation, Inc		17,353
	58,913	*	AutoZone, Inc		42,643
	134,487	*	Bed Bath & Beyond, Inc		7,668
	750,300		Best Buy Co, Inc		27,851
	1,973	*,e	Cabela’s, Inc		90
	1,849,897	*	Carmax, Inc		109,736
	2,221,350	*	Cnova NV		6,708
	23,503		CST Brands, Inc		791
	382,576	*	Ctrip.com International Ltd (ADR)		24,171
	26,075		Dick’s Sporting Goods, Inc		1,294
	224,370	e	Dillard’s, Inc (Class A)		19,608
	257,749		Dollar General Corp		18,671
	92,332	*	Dollar Tree, Inc		6,155

246

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	324,110		DSW, Inc (Class A)	$	8,203
	1,255,161		Expedia, Inc		147,708
	49,532	e	Fast Retailing Co Ltd		20,148
	567,783		Foot Locker, Inc		40,863
	228,723		Gap, Inc		6,519
	72,361		Genuine Parts Co		5,998
	435,806		GNC Holdings, Inc		17,615
	4,778,417	*	Groupon, Inc		15,578
	2,887,377		Home Depot, Inc		333,463
	134,491		L Brands, Inc		12,122
	1,854,987	*	Liberty Interactive Corp		48,656
	55,662	*	Liberty Ventures		2,246
	350,931	*	LKQ Corp		9,952
	946,839		Lowe’s Companies, Inc		65,256
	772,568		Macy’s, Inc		39,648
	21,992	*	Michaels Cos, Inc		508
	79,635	*	Murphy USA, Inc		4,376
	553,152	*	NetFlix, Inc		57,118
	56,039		Nordstrom, Inc		4,019
	26,627	*	Office Depot, Inc		171
	144,978	*	O’Reilly Automotive, Inc		36,244
	298,567		Penske Auto Group, Inc		14,463
	68,543	*	Priceline.com, Inc		84,778
	195,106		Ross Stores, Inc		9,457
	185,737	*	Sally Beauty Holdings, Inc		4,411
	566	*,e	Sears Holdings Corp		13
	32,211		Signet Jewelers Ltd		4,385
	380,291		Target Corp		29,914
	35,032		Tiffany & Co		2,705
	458,928		TJX Companies, Inc		32,777
	53,865		Tractor Supply Co		4,542
	89,346	*	TripAdvisor, Inc		5,631
	153,339	*	Ulta Salon Cosmetics & Fragrance, Inc		25,048
	36,706	*	Urban Outfitters, Inc		1,078
	36,459		Williams-Sonoma, Inc		2,784
			TOTAL RETAILING		2,044,395
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.6%
	36,377		Altera Corp		1,822
	114,368		Analog Devices, Inc		6,452
	1,389,593		Applied Materials, Inc		20,413
	1,377,861	e	ARM Holdings plc (ADR)		59,592
	171,683		Atmel Corp		1,385
	229,152		Avago Technologies Ltd		28,646
	915,490		Broadcom Corp (Class A)		47,084
	41,658	*	Freescale Semiconductor Holdings Ltd		1,524
	339,202		Intel Corp		10,224
	63,652		Kla-Tencor Corp		3,183
	337,292		Lam Research Corp		22,035
	95,786		Linear Technology Corp		3,865
	699,300		Marvell Technology Group Ltd		6,329
	40,303		Maxim Integrated Products, Inc		1,346

247

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	83,223	e	Microchip Technology, Inc	$	3,586
	196,590	*	Micron Technology, Inc		2,945
	200,000	*	NXP Semiconductors NV		17,414
	151,783	*	ON Semiconductor Corp		1,427
	123,619	*	Qorvo, Inc		5,569
	371,459		Skyworks Solutions, Inc		31,281
	826,790	*	Sumco Corp		7,415
	93,777	*,e	SunEdison, Inc		673
	1,815	*,e	SunPower Corp		36
	561,120		Texas Instruments, Inc		27,787
	128,780		Xilinx, Inc		5,460
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		317,493
SOFTWARE & SERVICES - 22.3%
	577,447		Accenture plc		56,740
	167,700		Activision Blizzard, Inc		5,180
	3,523,118	*	Adobe Systems, Inc		289,671
	308,085	*	Akamai Technologies, Inc		21,276
	121,257	*	Alliance Data Systems Corp		31,403
	509,590	*	Alphabet, Inc (Class A)		325,307
	879,939	*	Alphabet, Inc (Class C)		535,373
	356,691		Amdocs Ltd		20,289
	6,979	*	Ansys, Inc		615
	1,291,838	*	Autodesk, Inc		57,022
	163,915		Automatic Data Processing, Inc		13,172
	7,468	*	Black Knight Financial Services, Inc		243
	38,740		Booz Allen Hamilton Holding Co		1,015
	47,348		Broadridge Financial Solutions, Inc		2,621
	120,389	*	Cadence Design Systems, Inc		2,490
	131,597		CDK Global, Inc		6,288
	502,849	*,e	Check Point Software Technologies		39,891
	427,208	*,e	Cimpress NV		32,515
	234,375	*	Citrix Systems, Inc		16,238
	335,157	*	Cognizant Technology Solutions Corp (Class A)		20,984
	211,100		Computer Sciences Corp		12,957
	12,743	*	CoStar Group, Inc		2,205
	117,569		DST Systems, Inc		12,361
	3,026,028	*	eBay, Inc		73,956
	285,220	*	Electronic Arts, Inc		19,324
	5,622,387	*	Facebook, Inc		505,453
	16,527		Factset Research Systems, Inc		2,641
	48,738		Fidelity National Information Services, Inc		3,269
	304,498	*,e	FireEye, Inc		9,689
	403,761	*	First American Corp		15,032
	94,744	*	Fiserv, Inc		8,206
	174,323	*	FleetCor Technologies, Inc		23,990
	159,100	*	Fortinet, Inc		6,759
	32,951	*	Gartner, Inc		2,766
	60,777	*	Genpact Ltd		1,435
	353,292		Global Payments, Inc		40,533
	9,708	*,e	GoDaddy, Inc		245
	740,000	*,e	GrubHub, Inc		18,012

248

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	12,533	*	HomeAway, Inc	$	333
	390,940		IAC/InterActiveCorp		25,517
	552,179		International Business Machines Corp		80,049
	3,728,981		Intuit, Inc		330,947
	32,203		Jack Henry & Associates, Inc		2,242
	2,900,000	*	Just Eat plc		18,043
	1,034,367	e	King Digital Entertainment plc		14,005
	75,460		Leidos Holdings, Inc		3,117
	53,836	*	LinkedIn Corp		10,236
	3,366,625		Mastercard, Inc (Class A)		303,400
	6,802,464		Microsoft Corp		301,077
	797,947	*,e	Mobileye NV		36,291
	178,500		Netease.com (ADR)		21,441
	16,434	*,e	NetSuite, Inc		1,379
	2,991,041		Oracle Corp		108,036
	81,133	*	Pandora Media, Inc		1,731
	111,988		Paychex, Inc		5,334
	3,980,998	*	PayPal Holdings, Inc		123,570
	142,198	*	PTC, Inc		4,513
	130,753	*	Rackspace Hosting, Inc		3,227
	1,343,769	*	Red Hat, Inc		96,590
	1,348,280		Sabre Corp		36,646
	3,313,676	*	Salesforce.com, Inc		230,069
	650,568	*	ServiceNow, Inc		45,182
	27,434	*	SolarWinds, Inc		1,077
	27,609		Solera Holdings, Inc		1,491
	49,869	*	Splunk, Inc		2,760
	29,636		SS&C Technologies Holdings, Inc		2,076
	4,657	*	Synopsys, Inc		215
	51,605	*	Tableau Software, Inc		4,117
	790,000		Tencent Holdings Ltd		13,317
	107,233	*	Teradata Corp		3,106
	406,060		Total System Services, Inc		18,447
	276,442	*	Twitter, Inc		7,447
	11,174	*	Ultimate Software Group, Inc		2,000
	243,371	*	Vantiv, Inc		10,932
	46,786	*	VeriFone Systems, Inc		1,297
	41,035	*,e	VeriSign, Inc		2,896
	6,044,075		Visa, Inc (Class A)		421,030
	215,525	*	VMware, Inc (Class A)		16,981
	206,733		Western Union Co		3,796
	66,698	*	WEX, Inc		5,792
	42,446	*	Workday, Inc		2,923
	991,400	*	Yahoo!, Inc		28,661
	22,363	*,e	Yelp, Inc		484
	10,822	*,e	Zillow Group, Inc		311
	21,644	*,e	Zillow Group, Inc (Class C)		584
			TOTAL SOFTWARE & SERVICES		4,591,881
TECHNOLOGY HARDWARE & EQUIPMENT - 6.9%
	10,036	*	3D Systems Corp		116
	123,271		Amphenol Corp (Class A)		6,282

249

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	9,786,659	d	Apple, Inc	$	1,079,468
	13,867	*,e	Arista Networks, Inc		848
	9,344	*	ARRIS Group, Inc		243
	172,349		CDW Corp		7,042
	4,759,149		Cisco Systems, Inc		124,928
	32,942		Cognex Corp		1,132
	19,176	*	CommScope Holding Co, Inc		576
	309,164		EMC Corp		7,469
	80,439	*	F5 Networks, Inc		9,315
	85,044	*,e	Fitbit, Inc		3,205
	36,370		Flir Systems, Inc		1,018
	8,459		Harris Corp		619
	593,400		Hewlett-Packard Co		15,197
	201,399		Ingram Micro, Inc (Class A)		5,486
	14,212	*,e	IPG Photonics Corp		1,080
	482,025		Jabil Circuit, Inc		10,783
	273,546		Juniper Networks, Inc		7,033
	246,993	*	Keysight Technologies, Inc		7,617
	70,520	e	Motorola, Inc		4,822
	10,174		National Instruments Corp		283
	491,071		NetApp, Inc		14,536
	288,242	*	Palo Alto Networks, Inc		49,578
	98,556		Qualcomm, Inc		5,295
	371,700	e	Seagate Technology, Inc		16,652
	5,655	*	Trimble Navigation Ltd		93
	385,100		Western Digital Corp		30,592
	21,276	*	Zebra Technologies Corp (Class A)		1,629
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,412,937
TELECOMMUNICATION SERVICES - 1.0%
	466,829		AT&T, Inc		15,209
	809,400	*,g	Cellnex Telecom SAU		13,790
	1,136,723	*	Level 3 Communications, Inc		49,664
	77,878	*	SBA Communications Corp (Class A)		8,157
	2,593,504		Verizon Communications, Inc		112,844
	51,078	*,e	Zayo Group Holdings, Inc		1,295
			TOTAL TELECOMMUNICATION SERVICES		200,959
TRANSPORTATION - 2.7%
	367,705		Alaska Air Group, Inc		29,214
	33,472		Amerco, Inc		13,170
	310,573		American Airlines Group, Inc		12,060
	172,762	*	Avis Budget Group, Inc		7,546
	148,603		CH Robinson Worldwide, Inc		10,072
	104,850		CSX Corp		2,820
	1,651,324		Delta Air Lines, Inc		74,095
	241,090		Expeditors International of Washington, Inc		11,343
	322,834		FedEx Corp		46,482
	6,951	*	Genesee & Wyoming, Inc (Class A)		411
	2,562,599	*	Hertz Global Holdings, Inc		42,872
	36,496		J.B. Hunt Transport Services, Inc		2,606
	248,311	*	JetBlue Airways Corp		6,399

250

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	16,822		Landstar System, Inc	$	1,068
	491,862	*,e	Latam Airlines Group S.A. (ADR)		2,400
	27,191	*	Old Dominion Freight Line		1,659
	180,000		Ryanair Holdings plc (ADR)		14,094
	173,046		Ryder System, Inc		12,812
	1,413,635		Southwest Airlines Co		53,775
	333,356	*	Spirit Airlines, Inc		15,768
	1,421,147		Union Pacific Corp		125,643
	668,408	*	United Continental Holdings, Inc		35,459
	394,040		United Parcel Service, Inc (Class B)		38,888
			TOTAL TRANSPORTATION		560,656
UTILITIES - 0.0%
	17,767	*	Calpine Corp		259
	10,751		Dominion Resources, Inc		757
	23,558		ITC Holdings Corp		785
	1,094		TerraForm Power, Inc		16
			TOTAL UTILITIES		1,817
			TOTAL COMMON STOCKS		20,423,214
			(Cost $17,566,613)

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 3.4%
GOVERNMENT AGENCY DEBT - 0.6%
$	10,000,000	d	Federal Home Loan Bank (FHLB)		0.138	%	10/30/15	10,000
	11,200,000		FHLB		0.050		11/02/15	11,199
	9,000,000		FHLB		0.075		11/09/15	8,999
	32,710,000	d	FHLB		0.100		11/18/15	32,707
	20,000,000	d	FHLB		0.080		12/16/15	19,995
	10,000,000	d	FHLB		0.170		01/25/16	9,996
	34,800,000	d	Federal Home Loan Mortgage Corp (FHLMC)		0.070		10/15/15	34,800
	1,100,000		FHLMC		0.080		11/04/15	1,100
			TOTAL GOVERNMENT AGENCY DEBT					128,796
TREASURY DEBT - 0.0%
	1,000,000	d	United States Treasury Bill		0.095		10/15/15	1,000
	2,000,000	d	United States Treasury Bill		0.115		01/14/16	2,000
			TOTAL TREASURY DEBT					3,000

SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.8%
	571,848,831	a,c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	571,849
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES	571,849
			TOTAL SHORT-TERM INVESTMENTS	703,645
			(Cost $703,641)

251

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

		VALUE
SHARES	COMPANY	(000)
	TOTAL INVESTMENTS - 102.7%	$	21,126,859
	(Cost $18,270,254)
	OTHER ASSETS & LIABILITIES, NET - (2.7)%		(551,700	)
	NET ASSETS - 100.0%	$	20,575,159

	Abbreviation(s):
ADR	American Depositary Receipt
*	Non-income producing
a	Affiliated holding
c	Investments made with cash collateral received from securities on loan.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures transactions.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $568,108,000.
g	Security is 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 9/30/15, the aggregate value of these securities was $40,071,000, or 0.2% of net assets.
	Cost amounts are in thousands.

252

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND

EQUITY INDEX ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2015

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.8%
AUTOMOBILES & COMPONENTS - 1.2%
	56,324	*	American Axle & Manufacturing Holdings, Inc	$	1,123
	167,583		BorgWarner, Inc		6,970
	42,817		Cooper Tire & Rubber Co		1,692
	10,380	*	Cooper-Standard Holding, Inc		602
	120,374		Dana Holding Corp		1,912
	213,546		Delphi Automotive plc		16,238
	20,030	*,e	Dorman Products, Inc		1,019
	17,932		Drew Industries, Inc		979
	21,876	*	Federal Mogul Corp (Class A)		149
	2,866,679		Ford Motor Co		38,901
	12,496	*	Fox Factory Holding Corp		211
	1,178,995		General Motors Co		35,393
	218,376		Gentex Corp		3,385
	26,543	*	Gentherm, Inc		1,192
	194,868		Goodyear Tire & Rubber Co		5,716
	154,043		Harley-Davidson, Inc		8,457
	13,693	*	Horizon Global Corp		121
	484,264		Johnson Controls, Inc		20,029
	57,299		Lear Corp		6,233
	6,649		Metaldyne Performance Group, Inc		140
	36,302	*	Modine Manufacturing Co		286
	13,147	*	Motorcar Parts of America, Inc		412
	21,131		Remy International, Inc		618
	15,087		Standard Motor Products, Inc		526
	20,247	*	Stoneridge, Inc		250
	2,693		Strattec Security Corp		170
	17,815		Superior Industries International, Inc		333
	45,591	*	Tenneco, Inc		2,041
	72,086	*,e	Tesla Motors, Inc		17,906
	33,978		Thor Industries, Inc		1,760
	15,398	*	Tower International, Inc		366
	33,034	*	Visteon Corp		3,344
	21,322	e	Winnebago Industries, Inc		408
			TOTAL AUTOMOBILES & COMPONENTS		178,882
BANKS - 6.2%
	12,604		1st Source Corp		388
	5,171	e	Access National Corp		105
	5,882		American National Bankshares, Inc		138
	23,589		Ameris Bancorp		678
	7,069	e	Ames National Corp		162
	5,633	*	Anchor BanCorp Wisconsin, Inc		240

253

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	24,400		Apollo Residential Mortgage	$	309
	7,491		Arrow Financial Corp		200
	112,856		Associated Banc-Corp		2,028
	66,701		Astoria Financial Corp		1,074
	25,515		Banc of California, Inc		313
	5,016		Bancfirst Corp		317
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		497
	72,389		Bancorpsouth, Inc		1,721
	41,404		Bank Mutual Corp		318
	7,768,549		Bank of America Corp		121,034
	32,426	e	Bank of Hawaii Corp		2,059
	3,864		Bank of Marin Bancorp		185
	57,827		Bank of the Ozarks, Inc		2,531
	15,980		BankFinancial Corp		199
	76,129		BankUnited		2,722
	15,583		Banner Corp		744
	4,570	e	Bar Harbor Bankshares		146
	569,437		BB&T Corp		20,272
	59,137		BBCN Bancorp, Inc		888
	4,100	*,e	BBX Capital Corp		66
	9,956	*,e	Bear State Financial, Inc		89
	61,657	*	Beneficial Bancorp, Inc		818
	21,508		Berkshire Hills Bancorp, Inc		592
	20,549		Blue Hills Bancorp, Inc		285
	17,544		BNC Bancorp		390
	11,321	*	BofI Holding, Inc		1,458
	20,505	e	BOK Financial Corp		1,327
	59,217		Boston Private Financial Holdings, Inc		693
	8,872		Bridge Bancorp, Inc		237
	54,590		Brookline Bancorp, Inc		554
	12,987		Bryn Mawr Bank Corp		404
	6,346	*	BSB Bancorp, Inc		134
	4,588	*	C1 Financial, Inc		87
	5,527		Camden National Corp		223
	16,948	*	Capital Bank Financial Corp		512
	9,158		Capital City Bank Group, Inc		137
	105,428		Capitol Federal Financial		1,278
	22,480		Cardinal Financial Corp		517
	21,201	*	Cascade Bancorp		115
	60,166		Cathay General Bancorp		1,803
	33,881		Centerstate Banks of Florida, Inc		498
	17,227		Central Pacific Financial Corp		361
	2,883		Century Bancorp, Inc		118
	13,560		Charter Financial Corp		172
	24,990		Chemical Financial Corp		808
	128,729		CIT Group, Inc		5,153
	2,244,177		Citigroup, Inc		111,334
	9,568		Citizens & Northern Corp		187
	221,768		Citizens Financial Group, Inc		5,291
	10,721	e	City Holding Co		529
	35,413		City National Corp		3,118
	19,650		Clifton Bancorp, Inc		273

254

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	9,772		CNB Financial Corp	$	178
	26,184		CoBiz, Inc		341
	42,696		Columbia Banking System, Inc		1,333
	131,821		Comerica, Inc		5,418
	61,634		Commerce Bancshares, Inc		2,808
	30,550	e	Community Bank System, Inc		1,136
	12,718		Community Trust Bancorp, Inc		452
	7,261	*	CommunityOne Bancorp		79
	21,722		ConnectOne Bancorp, Inc		419
	12,656	*	CU Bancorp		284
	39,988		Cullen/Frost Bankers, Inc		2,542
	19,196	*	Customers Bancorp, Inc		493
	80,226		CVB Financial Corp		1,340
	23,810		Dime Community Bancshares		402
	22,108	*	Eagle Bancorp, Inc		1,006
	106,767		East West Bancorp, Inc		4,102
	4,559		Enterprise Bancorp, Inc		96
	14,785		Enterprise Financial Services Corp		372
	40,929	*	Essent Group Ltd		1,017
	57,923		EverBank Financial Corp		1,118
	4,054	*	Farmers Capital Bank Corp		101
	20,788	*	FCB Financial Holdings, Inc		678
	7,387		Federal Agricultural Mortgage Corp (Class C)		192
	12,551		Fidelity Southern Corp		265
	599,099		Fifth Third Bancorp		11,329
	10,211		Financial Institutions, Inc		253
	15,337		First Bancorp (NC)		261
	85,475	*	First Bancorp (Puerto Rico)		304
	6,485		First Bancorp, Inc		124
	19,350		First Busey Corp		384
	6,176		First Business Financial Services, Inc		145
	5,634		First Citizens Bancshares, Inc (Class A)		1,273
	66,434		First Commonwealth Financial Corp		604
	12,139		First Community Bancshares, Inc		217
	13,926		First Connecticut Bancorp		224
	7,726		First Defiance Financial Corp		282
	44,691		First Financial Bancorp		853
	48,150	e	First Financial Bankshares, Inc		1,530
	8,954		First Financial Corp		290
	172,999		First Horizon National Corp		2,453
	13,482		First Interstate Bancsystem, Inc		375
	26,538		First Merchants Corp		696
	57,533		First Midwest Bancorp, Inc		1,009
	11,498	*	First NBC Bank Holding Co		403
	263,698		First Niagara Financial Group, Inc		2,692
	8,623		First of Long Island Corp		233
	105,295		First Republic Bank		6,609
	123,577		FirstMerit Corp		2,184
	15,789	*	Flagstar Bancorp, Inc		325
	23,200		Flushing Financial Corp		464
	127,680		FNB Corp		1,653
	10,372		Fox Chase Bancorp, Inc		180

255

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	3,888	*,e	Franklin Financial Network, Inc	$	87
	130,713		Fulton Financial Corp		1,582
	9,802		German American Bancorp, Inc		287
	56,600		Glacier Bancorp, Inc		1,494
	7,809		Great Southern Bancorp, Inc		338
	30,455		Great Western Bancorp, Inc		773
	7,975	*	Green Bancorp, Inc		91
	11,166		Guaranty Bancorp		184
	31,047	*,e	Hampton Roads Bankshares, Inc		59
	57,555		Hancock Holding Co		1,557
	23,963		Hanmi Financial Corp		604
	13,311		Heartland Financial USA, Inc		483
	15,254		Heritage Commerce Corp		173
	22,833		Heritage Financial Corp		430
	14,409		Heritage Oaks Bancorp		115
	55,915	*	Hilltop Holdings, Inc		1,108
	997	e	Hingham Institution for Savings		116
	42,029		Home Bancshares, Inc		1,702
	15,022		HomeStreet, Inc		347
	16,046	*	HomeTrust Bancshares, Inc		298
	6,700		Horizon Bancorp		159
	392,192		Hudson City Bancorp, Inc		3,989
	597,336		Huntington Bancshares, Inc		6,332
	28,157		IBERIABANK Corp		1,639
	6,123	*,e	Impac Mortgage Holdings, Inc		100
	19,246		Independent Bank Corp (MA)		887
	17,558		Independent Bank Corp (MI)		259
	6,960		Independent Bank Group, Inc		267
	40,567		International Bancshares Corp		1,015
	257,321		Investors Bancorp, Inc		3,175
	2,730,738		JPMorgan Chase & Co		166,493
	69,276		Kearny Financial Corp		795
	627,474		Keycorp		8,163
	28,418		Lakeland Bancorp, Inc		316
	12,420		Lakeland Financial Corp		561
	35,043		LegacyTexas Financial Group, Inc		1,068
	4,100	*	LendingTree, Inc		381
	95,632	e	M&T Bank Corp		11,662
	15,363		MainSource Financial Group, Inc		313
	55,577		MB Financial, Inc		1,814
	12,428		Mercantile Bank Corp		258
	3,784		Merchants Bancshares, Inc		111
	41,025		Meridian Bancorp, Inc		561
	5,273		Meta Financial Group, Inc		220
	252,589	*	MGIC Investment Corp		2,339
	5,257		MidWestOne Financial Group, Inc		154
	27,253		National Bank Holdings Corp		559
	5,351	e	National Bankshares, Inc		166
	4,350	*,e	National Commerce Corp		104
	100,779		National Penn Bancshares, Inc		1,184
	28,655	*,e	Nationstar Mortgage Holdings, Inc		397
	32,725		NBT Bancorp, Inc		882

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	328,676	e	New York Community Bancorp, Inc	$	5,936
	26,583		NewBridge Bancorp		227
	38,864	*	NMI Holdings, Inc		295
	36,323		Northfield Bancorp, Inc		552
	69,442		Northwest Bancshares, Inc		903
	10,808		OceanFirst Financial Corp		186
	80,446	*,e	Ocwen Financial Corp		540
	33,903	e	OFG Bancorp		296
	86,033		Old National Bancorp		1,198
	21,667	*	Old Second Bancorp, Inc		135
	7,479		Opus Bank		286
	32,883		Oritani Financial Corp		514
	14,467		Pacific Continental Corp		193
	15,408	*	Pacific Premier Bancorp, Inc		313
	75,475		PacWest Bancorp		3,231
	9,690	e	Park National Corp		874
	33,018		Park Sterling Bank		225
	11,582		Peapack Gladstone Financial Corp		245
	2,964	e	Penns Woods Bancorp, Inc		121
	9,969		Pennsylvania Commerce Bancorp, Inc		293
	9,540	*	PennyMac Financial Services, Inc		153
	13,423		Peoples Bancorp, Inc		279
	5,712	e	Peoples Financial Services Corp		200
	229,288		People’s United Financial, Inc		3,607
	26,946		Pinnacle Financial Partners, Inc		1,331
	378,867		PNC Financial Services Group, Inc		33,795
	77,233		Popular, Inc		2,335
	8,859		Preferred Bank		280
	58,098		PrivateBancorp, Inc		2,227
	51,867		Prosperity Bancshares, Inc		2,547
	45,191		Provident Financial Services, Inc		881
	8,729		QCR Holdings, Inc		191
	141,913		Radian Group, Inc		2,258
	992,067		Regions Financial Corp		8,939
	29,870		Renasant Corp		981
	6,104		Republic Bancorp, Inc (Class A)		150
	25,676		S&T Bancorp, Inc		838
	18,232		Sandy Spring Bancorp, Inc		477
	17,078	*	Seacoast Banking Corp of Florida		251
	16,424		ServisFirst Bancshares, Inc		682
	8,919		Sierra Bancorp		142
	37,479	*	Signature Bank		5,156
	22,158		Simmons First National Corp (Class A)		1,062
	18,098		South State Corp		1,391
	16,521	e	Southside Bancshares, Inc		455
	14,769		Southwest Bancorp, Inc		242
	12,357	*	Square Financial, Inc		317
	26,403		State Bank & Trust Co		546
	88,560		Sterling Bancorp/DE		1,317
	10,870		Stock Yards Bancorp, Inc		395
	7,609		Stonegate Bank		242
	10,313	*,e	Stonegate Mortgage Corp		73

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	8,903		Suffolk Bancorp	$	243
	5,838	*	Sun Bancorp, Inc		112
	381,769		SunTrust Banks, Inc		14,599
	37,982	*	SVB Financial Group		4,388
	99,224		Synovus Financial Corp		2,937
	40,611		Talmer Bancorp Inc		676
	125,733		TCF Financial Corp		1,906
	8,286		Territorial Bancorp, Inc		216
	33,717	*	Texas Capital Bancshares, Inc		1,767
	52,879		TFS Financial Corp		912
	26,827	*	The Bancorp, Inc		204
	11,138		Tompkins Trustco, Inc		594
	36,382	e	TowneBank		686
	16,948		Trico Bancshares		416
	16,178	*	Tristate Capital Holdings, Inc		202
	10,668	*	Triumph Bancorp, Inc		179
	71,043		Trustco Bank Corp NY		415
	49,168		Trustmark Corp		1,139
	29,256		UMB Financial Corp		1,486
	161,706		Umpqua Holdings Corp		2,636
	33,847		Union Bankshares Corp		812
	52,160	e	United Bankshares, Inc		1,982
	40,245		United Community Banks, Inc		823
	30,361		United Community Financial Corp		152
	36,948		United Financial Bancorp, Inc (New)		482
	14,493		Univest Corp of Pennsylvania		279
	1,227,945		US Bancorp		50,358
	172,796		Valley National Bancorp		1,700
	19,235	*	Walker & Dunlop, Inc		502
	70,029		Washington Federal, Inc		1,593
	10,818		Washington Trust Bancorp, Inc		416
	22,962		Waterstone Financial, Inc		310
	67,195		Webster Financial Corp		2,394
	3,428,444		Wells Fargo & Co		176,051
	28,222		WesBanco, Inc		888
	11,970		West Bancorporation, Inc		224
	18,981	e	Westamerica Bancorporation		844
	62,509	*	Western Alliance Bancorp		1,920
	52,747		Wilshire Bancorp, Inc		554
	35,315		Wintrust Financial Corp		1,887
	20,553		WSFS Financial Corp		592
	18,616		Yadkin Financial Corp		400
	149,549		Zions Bancorporation		4,119
			TOTAL BANKS		965,799
CAPITAL GOODS - 7.3%
	469,229		3M Co		66,523
	54,949		A.O. Smith Corp		3,582
	29,877		Aaon, Inc		579
	26,739		AAR Corp		507
	32,350	*	Accuride Corp		90
	43,959		Actuant Corp (Class A)		808

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	32,117		Acuity Brands, Inc	$	5,639
	24,758	e	Advanced Drainage Systems, Inc		716
	110,795	*	Aecom Technology Corp		3,048
	28,439	*	Aegion Corp		469
	46,010	*,e	Aerojet Rocketdyne Holdings, Inc		744
	14,335	*	Aerovironment, Inc		287
	56,061	e	AGCO Corp		2,614
	75,690		Air Lease Corp		2,340
	46,365		Aircastle Ltd		956
	6,904		Alamo Group, Inc		323
	21,082		Albany International Corp (Class A)		603
	71,508		Allegion plc		4,123
	4,493		Allied Motion Technologies, Inc		80
	133,019		Allison Transmission Holdings, Inc		3,550
	20,492		Altra Holdings, Inc		474
	13,776	*	Ameresco, Inc		81
	7,032	e	American Railcar Industries, Inc		254
	5,344		American Science & Engineering, Inc		190
	9,387	*	American Woodmark Corp		609
	177,267		Ametek, Inc		9,275
	21,529		Apogee Enterprises, Inc		961
	29,542		Applied Industrial Technologies, Inc		1,127
	9,512		Argan, Inc		330
	28,807	*	Armstrong World Industries, Inc		1,375
	73,992	*	ArvinMeritor, Inc		787
	14,102		Astec Industries, Inc		473
	14,118	*	Astronics Corp		571
	19,364		AZZ, Inc		943
	40,073	*	Babcock & Wilcox Enterprises, Inc		673
	39,660		Barnes Group, Inc		1,430
	78,609		BE Aerospace, Inc		3,451
	37,178	*	Beacon Roofing Supply, Inc		1,208
	35,059	*	Blount International, Inc		195
	3,967	*,e	Blue Bird Corp		39
	507,329		Boeing Co		66,435
	35,415		Briggs & Stratton Corp		684
	33,815	*	Builders FirstSource, Inc		429
	80,147		BWX Technologies, Inc		2,113
	13,167	*	CAI International, Inc		133
	48,194		Carlisle Cos, Inc		4,211
	446,458	e	Caterpillar, Inc		29,180
	22,344	*	Chart Industries, Inc		429
	72,371	e	Chicago Bridge & Iron Co NV		2,870
	12,832		CIRCOR International, Inc		515
	36,993		Clarcor, Inc		1,764
	73,519	*,e	Colfax Corp		2,199
	14,727		Columbus McKinnon Corp		267
	29,078		Comfort Systems USA, Inc		793
	18,507	*	Commercial Vehicle Group, Inc		75
	23,295	*	Continental Building Products Inc		478
	35,538		Crane Co		1,656
	16,079		Cubic Corp		674

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	134,102		Cummins, Inc	$	14,561
	35,284		Curtiss-Wright Corp		2,202
	435,212		Danaher Corp		37,084
	246,887	e	Deere & Co		18,270
	53,820	*	DigitalGlobe, Inc		1,024
	101,234	e	Donaldson Co, Inc		2,843
	16,771		Douglas Dynamics, Inc		333
	118,749		Dover Corp		6,790
	8,048	*	Ducommun, Inc		162
	9,738	*	DXP Enterprises, Inc		266
	25,816	*,e	Dycom Industries, Inc		1,868
	345,619		Eaton Corp		17,730
	46,269		EMCOR Group, Inc		2,047
	494,216		Emerson Electric Co		21,830
	15,305		Encore Wire Corp		500
	32,847		EnerSys		1,760
	12,394		Engility Holdings, Inc		320
	19,664	*,e	Enphase Energy, Inc		73
	17,204		EnPro Industries, Inc		674
	20,012		ESCO Technologies, Inc		718
	23,350	*	Esterline Technologies Corp		1,679
	217,423	e	Fastenal Co		7,960
	46,509		Federal Signal Corp		638
	99,301		Flowserve Corp		4,085
	108,333		Fluor Corp		4,588
	118,030		Fortune Brands Home & Security, Inc		5,603
	35,044		Franklin Electric Co, Inc		954
	9,868		Freightcar America, Inc		169
	169,616	*,e	FuelCell Energy, Inc		125
	25,764	*	Furmanite Corp		157
	32,486		GATX Corp		1,434
	52,047	*,e	Generac Holdings, Inc		1,566
	37,226		General Cable Corp		443
	214,425		General Dynamics Corp		29,580
	7,452,988		General Electric Co		187,964
	22,869	*	Gibraltar Industries, Inc		420
	16,574		Global Brass & Copper Holdings, Inc		340
	14,132		Gorman-Rupp Co		339
	43,418		Graco, Inc		2,910
	7,763		Graham Corp		137
	29,395		Granite Construction, Inc		872
	44,924	*	Great Lakes Dredge & Dock Corp		226
	19,838	e	Greenbrier Cos, Inc		637
	26,499		Griffon Corp		418
	23,777		H&E Equipment Services, Inc		398
	59,172		Harsco Corp		537
	13,954	*,e	HC2 Holdings, Inc		98
	126,159	*	HD Supply Holdings, Inc		3,611
	14,478		HEICO Corp		708
	29,540		HEICO Corp (Class A)		1,341
	71,415		Hexcel Corp		3,204
	45,722		Hillenbrand, Inc		1,189

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	578,244		Honeywell International, Inc	$	54,754
	42,521		Hubbell, Inc (Class B)		3,612
	35,966		Huntington Ingalls		3,854
	4,796		Hurco Cos, Inc		126
	7,224		Hyster-Yale Materials Handling, Inc		418
	56,742		IDEX Corp		4,046
	221,299		Illinois Tool Works, Inc		18,215
	195,772		Ingersoll-Rand plc		9,939
	13,472		Insteel Industries, Inc		217
	66,122		ITT Corp		2,210
	93,057	*	Jacobs Engineering Group, Inc		3,483
	21,706		John Bean Technologies Corp		830
	71,908	e	Joy Global, Inc		1,074
	8,084		Kadant, Inc		315
	19,992		Kaman Corp		717
	106,685		KBR, Inc		1,777
	58,766		Kennametal, Inc		1,463
	24,548	*,e	KEYW Holding Corp		151
	38,579	*	KLX, Inc		1,379
	35,813	*	Kratos Defense & Security Solutions, Inc		151
	60,975		L-3 Communications Holdings, Inc		6,373
	4,456	*,e	Lawson Products, Inc		96
	7,262		LB Foster Co (Class A)		89
	30,249		Lennox International, Inc		3,428
	55,983		Lincoln Electric Holdings, Inc		2,935
	8,999	e	Lindsay Manufacturing Co		610
	198,722		Lockheed Martin Corp		41,197
	12,960		LSI Industries, Inc		109
	12,907	*	Lydall, Inc		368
	100,071		Manitowoc Co, Inc		1,501
	257,957		Masco Corp		6,495
	22,281	*	Masonite International Corp		1,350
	48,078	*	Mastec, Inc		761
	42,429	*	Middleby Corp		4,463
	9,476	*	Milacron Holdings Corp		166
	7,280		Miller Industries, Inc		142
	28,530	*	Moog, Inc (Class A)		1,543
	75,826	*	MRC Global, Inc		845
	34,779	e	MSC Industrial Direct Co (Class A)		2,123
	42,636		Mueller Industries, Inc		1,261
	118,277		Mueller Water Products, Inc (Class A)		906
	15,457	*	MYR Group, Inc		405
	3,938		National Presto Industries, Inc		332
	38,145	*,e	Navistar International Corp		485
	19,754	*	NCI Building Systems, Inc		209
	7,962	*,e	Neff Corp		44
	13,876		NN, Inc		257
	45,081		Nordson Corp		2,837
	6,979	*	Nortek, Inc		442
	142,742		Northrop Grumman Corp		23,688
	7,062	*	Northwest Pipe Co		92
	79,518	*,e	NOW, Inc		1,177

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	3,532	*,e	NV5 Holdings, Inc	$	66
	2,354		Omega Flex, Inc		79
	44,267		Orbital ATK, Inc		3,181
	19,593	*	Orion Marine Group, Inc		117
	57,963	e	Oshkosh Truck Corp		2,106
	87,128		Owens Corning, Inc		3,652
	263,140		Paccar, Inc		13,728
	102,593		Parker Hannifin Corp		9,982
	9,372	*	Patrick Industries, Inc		370
	132,996		Pentair plc		6,788
	28,503	*	Perini Corp		469
	36,380	*	Pgt, Inc		447
	125,956	*,e	Plug Power, Inc		230
	15,949	*	Ply Gem Holdings, Inc		187
	7,077		Powell Industries, Inc		213
	3,314	*,e	Power Solutions International, Inc		75
	14,420	*	PowerSecure International, Inc		166
	102,242		Precision Castparts Corp		23,486
	1,801		Preformed Line Products Co		67
	28,783	e	Primoris Services Corp		515
	17,206	*,e	Proto Labs, Inc		1,153
	25,291		Quanex Building Products Corp		460
	151,070	*	Quanta Services, Inc		3,657
	27,582	e	Raven Industries, Inc		468
	225,762		Raytheon Co		24,667
	17,664		RBC Bearings, Inc		1,055
	33,217		Regal-Beloit Corp		1,875
	74,035	*	Rexnord Corp		1,257
	99,579		Rockwell Automation, Inc		10,104
	97,885		Rockwell Collins, Inc		8,011
	72,857		Roper Industries, Inc		11,417
	26,334	*	Rush Enterprises, Inc (Class A)		637
	31,268		Simpson Manufacturing Co, Inc		1,047
	40,812		Snap-On, Inc		6,160
	43,521	*,e	SolarCity Corp		1,859
	7,959	*	Sparton Corp		170
	104,846	*	Spirit Aerosystems Holdings, Inc (Class A)		5,068
	30,406		SPX Corp		362
	30,406	*	SPX FLOW, Inc		1,047
	9,752		Standex International Corp		735
	113,757		Stanley Works		11,032
	10,746	*	Stock Building Supply Holdings, Inc		189
	16,194		Sun Hydraulics Corp		445
	8,231	*	Sunrun, Inc		85
	24,710		TAL International Group, Inc		338
	38,585	*,e	Taser International, Inc		850
	26,449	*	Teledyne Technologies, Inc		2,388
	13,262		Tennant Co		745
	77,584		Terex Corp		1,392
	15,040	e	Textainer Group Holdings Ltd		248
	205,292		Textron, Inc		7,727
	7,401	*,e	The ExOne Company		50

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	24,419	*	Thermon Group Holdings	$	502
	57,385		Timken Co		1,578
	33,155	e	Titan International, Inc		219
	11,613	*,e	Titan Machinery, Inc		133
	41,052		Toro Co		2,896
	39,495	*	TransDigm Group, Inc		8,389
	24,081	*	Trex Co, Inc		803
	34,233	*	Trimas Corp		560
	114,441		Trinity Industries, Inc		2,594
	36,497		Triumph Group, Inc		1,536
	6,504		Twin Disc, Inc		81
	71,789	*	United Rentals, Inc		4,311
	652,784		United Technologies Corp		58,091
	25,266	*	Univar, Inc		459
	14,766		Universal Forest Products, Inc		852
	67,415	*,e	USG Corp		1,795
	17,479		Valmont Industries, Inc		1,659
	7,860	*	Vectrus, Inc		173
	6,270	*,e	Veritiv Corp		233
	12,845	*	Vicor Corp		131
	48,060	e	W.W. Grainger, Inc		10,333
	52,045	*	Wabash National Corp		551
	40,484	*	WABCO Holdings, Inc		4,244
	19,517		Watsco, Inc		2,312
	21,144		Watts Water Technologies, Inc (Class A)		1,117
	32,974	*,e	WESCO International, Inc		1,532
	71,607		Westinghouse Air Brake Technologies Corp		6,305
	48,425		Woodward Governor Co		1,971
	8,335	*	Xerium Technologies, Inc		108
	134,207		Xylem, Inc		4,409
			TOTAL CAPITAL GOODS		1,140,276
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
	41,289		ABM Industries, Inc		1,128
	37,820		Acacia Research (Acacia Technologies)		343
	81,816	*	ACCO Brands Corp		578
	14,431		Administaff, Inc		634
	126,681	e	ADT Corp		3,788
	31,285	*	Advisory Board Co		1,425
	16,280		American Ecology Corp		711
	26,021	*	ARC Document Solutions, Inc		155
	6,166		Barrett Business Services, Inc		265
	35,197		Brady Corp (Class A)		692
	35,828		Brink’s Co		968
	29,675	*	Casella Waste Systems, Inc (Class A)		172
	35,493	*,e	CBIZ, Inc		349
	10,344		CDI Corp		88
	25,057		CEB, Inc		1,712
	16,272		Ceco Environmental Corp		133
	67,393		Cintas Corp		5,779
	43,305	*	Clean Harbors, Inc		1,904
	93,566	*	Copart, Inc		3,078

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	84,474		Covanta Holding Corp	$	1,474
	7,013	*	CRA International, Inc		151
	36,968		Deluxe Corp		2,061
	26,621		Dun & Bradstreet Corp		2,795
	20,052		Ennis, Inc		348
	85,071		Equifax, Inc		8,267
	28,344		Essendant, Inc		919
	19,672		Exponent, Inc		877
	9,375	*	Franklin Covey Co		151
	30,776	*	FTI Consulting, Inc		1,278
	15,088		G & K Services, Inc (Class A)		1,005
	9,864	*	GP Strategies Corp		225
	51,852		Healthcare Services Group		1,747
	14,300		Heidrick & Struggles International, Inc		278
	8,893	*	Heritage-Crystal Clean, Inc		91
	43,782		Herman Miller, Inc		1,263
	25,556	*	Hill International, Inc		84
	33,809		HNI Corp		1,450
	17,181	*	Huron Consulting Group, Inc		1,074
	14,961	*	ICF International, Inc		455
	114,792	*	ICO Global Communications Holdings Ltd		83
	50,885	*	IHS, Inc (Class A)		5,903
	27,969	*	Innerworkings, Inc		175
	49,074		Interface, Inc		1,101
	105,770		KAR Auction Services, Inc		3,755
	20,372		Kelly Services, Inc (Class A)		288
	18,302		Kforce, Inc		481
	25,171		Kimball International, Inc (Class B)		238
	35,963		Knoll, Inc		790
	37,184		Korn/Ferry International		1,230
	57,887		Manpower, Inc		4,740
	24,984		Matthews International Corp (Class A)		1,223
	19,108		McGrath RentCorp		510
	13,300	*	Mistras Group, Inc		171
	33,943		Mobile Mini, Inc		1,045
	21,996		MSA Safety, Inc		879
	8,734		Multi-Color Corp		668
	36,256	*	Navigant Consulting, Inc		577
	270,305		Nielsen NV		12,020
	4,943		NL Industries, Inc		15
	38,425	*	On Assignment, Inc		1,418
	148,964		Pitney Bowes, Inc		2,957
	19,971		Quad		242
	153,250		R.R. Donnelley & Sons Co		2,231
	176,880		Republic Services, Inc		7,287
	28,792		Resources Connection, Inc		434
	100,038		Robert Half International, Inc		5,118
	70,333		Rollins, Inc		1,890
	39,749	*	RPX Corp		545
	12,140	*	SP Plus Corp		281
	61,807		Steelcase, Inc (Class A)		1,138
	60,451	*	Stericycle, Inc		8,421

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	15,368	*	Team, Inc	$	494
	44,478		Tetra Tech, Inc		1,081
	51,220		Towers Watson & Co		6,012
	25,954	*	TransUnion		652
	12,065	*,e	TRC Cos, Inc		143
	30,336	*	TriNet Group, Inc		510
	30,958	*	TrueBlue, Inc		696
	311,359		Tyco International plc		10,418
	10,976		Unifirst Corp		1,172
	125,086	*	Verisk Analytics, Inc		9,245
	15,178		Viad Corp		440
	7,372	*	Volt Information Sciences, Inc		67
	2,793		VSE Corp		112
	26,743	*	WageWorks, Inc		1,206
	91,756		Waste Connections, Inc		4,458
	338,661		Waste Management, Inc		16,869
	38,638		West Corp		865
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		172,189
CONSUMER DURABLES & APPAREL - 1.8%
	9,523	e	Arctic Cat, Inc		211
	7,681		Bassett Furniture Industries, Inc		214
	21,459	*	Beazer Homes USA, Inc		286
	16,578	*	Black Diamond, Inc		104
	68,196		Brunswick Corp		3,266
	58,438		Callaway Golf Co		488
	39,090		Carter’s, Inc		3,543
	6,619	*	Cavco Industries, Inc		451
	11,363	*	Century Communities, Inc		226
	6,001	*	Cherokee, Inc		93
	204,773		Coach, Inc		5,924
	21,226		Columbia Sportswear Co		1,248
	56,978	*	CROCS, Inc		736
	6,879		CSS Industries, Inc		181
	6,895		Culp, Inc		221
	26,041	*	Deckers Outdoor Corp		1,512
	241,753		DR Horton, Inc		7,098
	7,865		Escalade, Inc		124
	18,783	e	Ethan Allen Interiors, Inc		496
	3,991		Flexsteel Industries, Inc		125
	31,215	*,e	Fossil Group, Inc		1,744
	87,591	e	Garmin Ltd		3,143
	29,399	*	G-III Apparel Group Ltd		1,813
	65,952	*,e	GoPro, Inc		2,059
	9,827	*	Green Brick Partners, Inc		106
	297,224		Hanesbrands, Inc		8,602
	52,481		Harman International Industries, Inc		5,038
	82,316		Hasbro, Inc		5,938
	21,160	*	Helen of Troy Ltd		1,890
	7,913	e	Hooker Furniture Corp		186
	93,175	*,e	Hovnanian Enterprises, Inc (Class A)		165
	34,721	*,e	Iconix Brand Group, Inc		469

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	14,775	*	Installed Building Products Inc	$	373
	21,039	*,e	iRobot Corp		613
	13,358	*,e	Jakks Pacific, Inc		114
	155,992	*	Jarden Corp		7,625
	3,583		Johnson Outdoors, Inc		76
	94,263	*	Kate Spade & Co		1,801
	60,650	e	KB Home		822
	37,580		La-Z-Boy, Inc		998
	101,979		Leggett & Platt, Inc		4,207
	7,350		Lennar Corp (B Shares)		291
	128,503		Lennar Corp (Class A)		6,185
	10,716	*,e	LGI Homes, Inc		291
	16,013		Libbey, Inc		522
	7,210		Lifetime Brands, Inc		101
	82,394	*,e	Lululemon Athletica, Inc		4,173
	16,714	*	M/I Homes, Inc		394
	13,092	*	Malibu Boats Inc		183
	8,407		Marine Products Corp		58
	250,569	e	Mattel, Inc		5,277
	6,163	*	MCBC Holdings, Inc		80
	29,150	e	MDC Holdings, Inc		763
	28,574	*	Meritage Homes Corp		1,043
	146,850	*	Michael Kors Holdings Ltd		6,203
	45,442	*	Mohawk Industries, Inc		8,261
	12,667		Movado Group, Inc		327
	3,180		Nacco Industries, Inc (Class A)		151
	22,756	*	Nautilus, Inc		341
	6,504	*,e	New Home Co Inc		84
	198,550		Newell Rubbermaid, Inc		7,884
	499,853		Nike, Inc (Class B)		61,467
	3,033	*	NVR, Inc		4,626
	10,973		Oxford Industries, Inc		811
	32,977	*	Performance Sports Group Ltd		443
	8,860	*	Perry Ellis International, Inc		195
	61,198		Phillips-Van Heusen Corp		6,239
	48,899	e	Polaris Industries, Inc		5,861
	32,650		Pool Corp		2,361
	270,599		Pulte Homes, Inc		5,106
	44,148		Ralph Lauren Corp		5,217
	35,106	e	Ryland Group, Inc		1,433
	18,497	*,e	Sequential Brands Group, Inc		268
	30,224	*	Skechers U.S.A., Inc (Class A)		4,052
	12,508	*	Skullcandy, Inc		69
	39,523	*	Smith & Wesson Holding Corp		667
	110,180	*	Standard-Pacific Corp		881
	41,788	*	Steven Madden Ltd		1,530
	13,899	e	Sturm Ruger & Co, Inc		816
	5,163	e	Superior Uniform Group, Inc		93
	24,241	*	Taylor Morrison Home Corp		452
	45,528	*	Tempur-Pedic International, Inc		3,252
	129,747	*	Toll Brothers, Inc		4,443
	28,661	*	TopBuild Corp		888

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	118,469	*	TRI Pointe Homes, Inc	$	1,551
	41,746	*	Tumi Holdings, Inc		736
	36,963	e	Tupperware Corp		1,829
	131,968	*,e	Under Armour, Inc (Class A)		12,772
	10,905	*	Unifi, Inc		325
	11,370	*	Universal Electronics, Inc		478
	16,444	*,e	Vera Bradley, Inc		207
	250,119		VF Corp		17,061
	9,200	*	Vince Holding Corp		32
	47,182	*	Vista Outdoor, Inc		2,096
	11,248	*	WCI Communities, Inc		255
	5,214		Weyco Group, Inc		141
	58,219		Whirlpool Corp		8,573
	13,294	*	William Lyon Homes, Inc		274
	76,448		Wolverine World Wide, Inc		1,654
	21,026	*	Zagg, Inc		143
			TOTAL CONSUMER DURABLES & APPAREL		276,238
CONSUMER SERVICES - 2.4%
	17,607	*,e	2U, Inc		632
	13,862	*	American Public Education, Inc		325
	69,950	*	Apollo Group, Inc (Class A)		774
	142,754		ARAMARK Holdings Corp		4,231
	10,215	*	Ascent Media Corp (Series A)		280
	71,477	*	Belmond Ltd.		723
	15,788	*	BJ’s Restaurants, Inc		679
	90,837		Bloomin’ Brands, Inc		1,651
	17,542		Bob Evans Farms, Inc		761
	6,185	*,e	Bojangles’, Inc		105
	58,143	*	Boyd Gaming Corp		948
	12,909	*	Bravo Brio Restaurant Group, Inc		146
	13,548	*	Bridgepoint Education, Inc		103
	27,545	*	Bright Horizons Family Solutions		1,770
	45,353		Brinker International, Inc		2,389
	14,166	*	Buffalo Wild Wings, Inc		2,740
	34,686	*,e	Caesars Acquisition Co		246
	38,423	*,e	Caesars Entertainment Corp		226
	8,227	*,e	Cambium Learning Group, Inc		39
	8,937		Capella Education Co		443
	46,334	*	Career Education Corp		174
	314,087		Carnival Corp		15,610
	12,748	e	Carriage Services, Inc		275
	27,792	*	Carrols Restaurant Group, Inc		331
	36,458		Cheesecake Factory		1,967
	54,819	*,e	Chegg, Inc		395
	22,845	*	Chipotle Mexican Grill, Inc (Class A)		16,454
	26,423		Choice Hotels International, Inc		1,259
	10,291		Churchill Downs, Inc		1,377
	12,474	*	Chuy’s Holdings, Inc		354
	31,382		ClubCorp Holdings, Inc		674
	5,623		Collectors Universe		85
	14,150	e	Cracker Barrel Old Country Store, Inc		2,084

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	93,005		Darden Restaurants, Inc	$	6,375
	16,794	*	Dave & Buster’s Entertainment, Inc		635
	17,725	*	Del Frisco’s Restaurant Group, Inc		246
	61,863	*	Denny’s Corp		682
	48,007	e	DeVry, Inc		1,306
	30,972	*,e	Diamond Resorts International, Inc		724
	12,442		DineEquity, Inc		1,140
	40,835		Domino’s Pizza, Inc		4,407
	71,089	e	Dunkin Brands Group, Inc		3,483
	10,058	*,e	El Pollo Loco Holdings, Inc		108
	20,875	*	Eldorado Resorts, Inc		188
	11,217	*,e	Empire Resorts, Inc		47
	44,382		Extended Stay America, Inc		745
	20,469	*	Fiesta Restaurant Group, Inc		929
	2,399		Graham Holdings Co		1,384
	34,464	*	Grand Canyon Education, Inc		1,309
	204,247		H&R Block, Inc		7,394
	8,405	*,e	Habit Restaurants, Inc		180
	384,225		Hilton Worldwide Holdings, Inc		8,814
	101,128	*	Houghton Mifflin Harcourt Co		2,054
	25,504	*,e	Hyatt Hotels Corp		1,201
	68,009	e	International Game Technology plc		1,043
	20,955		International Speedway Corp (Class A)		665
	29,107		Interval Leisure Group, Inc		534
	13,700	*	Intrawest Resorts Holdings Inc		119
	15,534	*	Isle of Capri Casinos, Inc		271
	10,325	*	J Alexander’s Holdings, Inc		103
	27,934		Jack in the Box, Inc		2,152
	11,200	*,e	Jamba, Inc		160
	26,055	*	K12, Inc		324
	6,015	*,e	Kona Grill, Inc		95
	48,331	*	Krispy Kreme Doughnuts, Inc		707
	69,470	*	La Quinta Holdings, Inc		1,096
	270,501		Las Vegas Sands Corp		10,271
	3,365		Liberty Tax, Inc		78
	68,430	*,e	LifeLock, Inc		600
	14,891		Marcus Corp		288
	155,789		Marriott International, Inc (Class A)		10,625
	19,332		Marriott Vacations Worldwide Corp		1,317
	704,250		McDonald’s Corp		69,390
	329,404	*	MGM Resorts International		6,078
	7,140	*	Monarch Casino & Resort, Inc		128
	23,956	*	Morgans Hotel Group Co		80
	8,091	*,e	Noodles & Co		115
	97,296	*	Norwegian Cruise Line Holdings Ltd		5,575
	18,711	*	Panera Bread Co (Class A)		3,619
	21,662		Papa John’s International, Inc		1,483
	6,692	*,e	Papa Murphy’s Holdings, Inc		98
	60,160	*,e	Penn National Gaming, Inc		1,010
	43,980	*	Pinnacle Entertainment, Inc		1,488
	10,931	*	Planet Fitness, Inc		187
	17,192	*	Popeyes Louisiana Kitchen, Inc		969

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	16,455	*,e	Potbelly Corp	$	181
	10,662	*	Red Robin Gourmet Burgers, Inc		808
	30,479	*	Regis Corp		399
	127,003		Royal Caribbean Cruises Ltd		11,315
	46,223	*	Ruby Tuesday, Inc		287
	26,831		Ruth’s Chris Steak House, Inc		436
	37,197	*,e	Scientific Games Corp (Class A)		389
	51,334	e	SeaWorld Entertainment, Inc		914
	149,654		Service Corp International		4,056
	75,591	*	ServiceMaster Global Holdings, Inc		2,536
	4,371	*,e	Shake Shack, Inc		207
	53,284		Six Flags Entertainment Corp		2,439
	38,968		Sonic Corp		894
	46,276	e	Sotheby’s (Class A)		1,480
	9,984		Speedway Motorsports, Inc		180
	1,109,740		Starbucks Corp		63,077
	127,142		Starwood Hotels & Resorts Worldwide, Inc		8,452
	862	*	Steak N Shake Co		315
	10,261	*	Steiner Leisure Ltd		648
	7,659	*	Strayer Education, Inc		421
	50,852		Texas Roadhouse, Inc (Class A)		1,892
	15,190		Universal Technical Institute, Inc		53
	27,082		Vail Resorts, Inc		2,835
	159,675		Wendy’s		1,381
	4,418	*	Wingstop, Inc		106
	88,866		Wyndham Worldwide Corp		6,390
	60,223		Wynn Resorts Ltd		3,199
	316,562		Yum! Brands, Inc		25,309
	14,098	*,e	Zoe’s Kitchen, Inc		557
			TOTAL CONSUMER SERVICES		365,425
DIVERSIFIED FINANCIALS - 3.7%
	40,483	*	Affiliated Managers Group, Inc		6,922
	355,309	*	Ally Financial, Inc		7,241
	637,350		American Express Co		47,247
	134,150		Ameriprise Financial, Inc		14,640
	16,506	e	Arlington Asset Investment Corp (Class A)		232
	26,422		Artisan Partners Asset Management, Inc		931
	608	*,e	Ashford, Inc		39
	829,364		Bank of New York Mellon Corp		32,470
	131,560		BGC Partners, Inc (Class A)		1,081
	92,793		BlackRock, Inc		27,603
	16,951		Calamos Asset Management, Inc (Class A)		161
	398,647		Capital One Financial Corp		28,910
	20,380		Cash America International, Inc		570
	62,482		CBOE Holdings, Inc		4,191
	846,448		Charles Schwab Corp		24,175
	7,179	e	CIFC Corp		51
	237,188		CME Group, Inc		21,997
	14,207		Cohen & Steers, Inc		390
	82,972	*,e	Cowen Group, Inc		378
	6,269	*,e	Credit Acceptance Corp		1,234

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	2,179		Diamond Hill Investment Group, Inc	$	405
	320,606		Discover Financial Services		16,668
	214,458	*	E*TRADE Financial Corp		5,647
	88,158		Eaton Vance Corp		2,946
	19,334	*,e	Encore Capital Group, Inc		715
	18,647	*	Enova International, Inc		191
	25,641		Evercore Partners, Inc (Class A)		1,288
	38,445	*	Ezcorp, Inc (Class A)		237
	69,691	e	Federated Investors, Inc (Class B)		2,014
	5,405	e	Fifth Street Asset Management, Inc		40
	39,058	e	Financial Engines, Inc		1,151
	21,634	*	First Cash Financial Services, Inc		867
	59,776	*	FNFV Group		701
	286,726		Franklin Resources, Inc		10,683
	23,847		Gain Capital Holdings, Inc		174
	4,901		GAMCO Investors, Inc (Class A)		269
	319,534		Goldman Sachs Group, Inc		55,522
	34,042	*	Green Dot Corp		599
	22,433		Greenhill & Co, Inc		639
	27,971		HFF, Inc (Class A)		944
	8,431	*	Houlihan Lokey, Inc		184
	42,390		Interactive Brokers Group, Inc (Class A)		1,673
	82,332		IntercontinentalExchange Group, Inc		19,347
	11,369	*	INTL FCStone, Inc		281
	318,549		Invesco Ltd		9,948
	25,877		Investment Technology Group, Inc		345
	26,920	e	iShares Russell 2000 Index Fund		2,940
	109,114	e	Janus Capital Group, Inc		1,484
	9,015	*,e	JG Wentworth Co		44
	32,261	*	KCG Holdings, Inc		354
	73,441	*,e	Ladenburg Thalmann Financial Services, Inc		155
	92,967		Lazard Ltd (Class A)		4,026
	72,511		Legg Mason, Inc		3,017
	50,188	*,e	LendingClub Corp		664
	242,948		Leucadia National Corp		4,922
	61,562	e	LPL Financial Holdings, Inc		2,448
	27,836		MarketAxess Holdings, Inc		2,585
	6,533		Marlin Business Services Corp		101
	202,506		McGraw-Hill Financial, Inc		17,517
	5,352		Medley Management, Inc		35
	12,795		Moelis & Co		336
	131,247		Moody’s Corp		12,888
	1,132,965		Morgan Stanley		35,688
	83,164		MSCI, Inc (Class A)		4,945
	83,860		NASDAQ OMX Group, Inc		4,472
	287,660		Navient Corp		3,233
	17,407		Nelnet, Inc (Class A)		603
	18,457	*	NewStar Financial, Inc		151
	172,816		Northern Trust Corp		11,779
	143,463		NorthStar Asset Management Group, Inc		2,060
	19,473		OM Asset Management plc		300
	8,132	*,e	On Deck Capital, Inc		81

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	7,363		Oppenheimer Holdings, Inc	$	147
	36,552	*	PHH Corp		516
	17,372	*	Pico Holdings, Inc		168
	12,046	*	Piper Jaffray Cos		436
	35,958	*,e	PRA Group, Inc		1,903
	9,591		Pzena Investment Management, Inc (Class A)		85
	94,509		Raymond James Financial, Inc		4,691
	8,577	*	Regional Management Corp		133
	9,098		Resource America, Inc (Class A)		61
	16,951	*	Safeguard Scientifics, Inc		263
	66,420		Santander Consumer USA Holdings, Inc		1,356
	103,149		SEI Investments Co		4,975
	317,527		SLM Corp		2,350
	13,088	e	SPDR S&P MidCap 400 ETF Trust		3,258
	132,124	e	SPDR Trust Series 1		25,319
	38,494	*	Springleaf Holdings, Inc		1,683
	304,529		State Street Corp		20,467
	49,761	*	Stifel Financial Corp		2,095
	84,950	*,e	Synchrony Financial		2,659
	193,908		T Rowe Price Group, Inc		13,477
	196,566		TD Ameritrade Holding Corp		6,259
	22,143	e	Tiptree Financial, Inc		142
	13,262	e	Virtu Financial, Inc		304
	5,194		Virtus Investment Partners, Inc		522
	161,375		Voya Financial, Inc		6,257
	62,904		Waddell & Reed Financial, Inc (Class A)		2,187
	28,439	*,e	Walter Investment Management Corp		462
	5,409		Westwood Holdings Group, Inc		294
	84,317	e	WisdomTree Investments, Inc		1,360
	5,697	*,e	World Acceptance Corp		153
			TOTAL DIVERSIFIED FINANCIALS		574,751
ENERGY - 6.3%
	70,225	*	Abraxas Petroleum Corp		90
	1,730		Adams Resources & Energy, Inc		71
	23,232		Alon USA Energy, Inc		420
	375,701		Anadarko Petroleum Corp		22,689
	51,630	*,e	Antero Resources Corp		1,092
	278,995		Apache Corp		10,925
	30,066	*,e	Approach Resources, Inc		56
	14,064		Ardmore Shipping Corp		170
	47,265	e	Atwood Oceanics, Inc		700
	321,443		Baker Hughes, Inc		16,728
	30,478	*,e	Basic Energy Services, Inc		101
	36,170	*,e	Bill Barrett Corp		119
	36,356	*,e	Bonanza Creek Energy, Inc		148
	26,221		Bristow Group, Inc		686
	41,604	*,e	C&J Energy Services Ltd		146
	306,169		Cabot Oil & Gas Corp		6,693
	235,429		California Resources Corp		612
	48,954	*	Callon Petroleum Co		357
	141,683	*	Cameron International Corp		8,688

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	15,028	e	CARBO Ceramics, Inc	$	285
	37,895	*	Carrizo Oil & Gas, Inc		1,157
	174,970	*	Cheniere Energy, Inc		8,451
	433,124	e	Chesapeake Energy Corp		3,175
	1,390,986		Chevron Corp		109,721
	69,929		Cimarex Energy Co		7,166
	4,602	*,e	Clayton Williams Energy, Inc		179
	54,226	*,e	Clean Energy Fuels Corp		244
	46,507	*,e	Cloud Peak Energy, Inc		122
	270,770	*	Cobalt International Energy, Inc		1,917
	234,601		Columbia Pipeline Group, Inc		4,291
	88,791	*	Concho Resources, Inc		8,728
	912,242		ConocoPhillips		43,751
	169,243	e	Consol Energy, Inc		1,659
	12,994	*	Contango Oil & Gas Co		99
	63,433	*	Continental Resources, Inc		1,838
	11,149	e	CVR Energy, Inc		458
	42,034		Delek US Holdings, Inc		1,164
	266,127	e	Denbury Resources, Inc		649
	304,096		Devon Energy Corp		11,279
	66,927		DHT Holdings, Inc		497
	47,743	e	Diamond Offshore Drilling, Inc		826
	46,462	*	Diamondback Energy, Inc		3,001
	17,982	*	Dorian LPG Ltd		185
	28,933	*	Dril-Quip, Inc		1,684
	36,656	*,e	Eclipse Resources Corp		71
	54,290		Energen Corp		2,707
	31,459	*,e	Energy Fuels, Inc		92
	172,866		Ensco plc		2,434
	406,049		EOG Resources, Inc		29,560
	25,000	*,e	EP Energy Corp		129
	112,945		EQT Corp		7,315
	14,364	*	Era Group, Inc		215
	9,927	*,e	Erin Energy Corp		39
	17,517		Evolution Petroleum Corp		97
	51,391		Exterran Holdings, Inc		925
	3,083,172	d	Exxon Mobil Corp		229,234
	46,513	*,e	Fairmount Santrol Holdings, Inc		126
	171,060	*	FMC Technologies, Inc		5,303
	43,546	*	Forum Energy Technologies, Inc		532
	26,300		Frank’s International NV		403
	80,982	*,e	Frontline Ltd		218
	32,033	e	GasLog Ltd		308
	58,105	*,e	Gastar Exploration, Inc		67
	16,135	*	Gener8 Maritime, Inc		177
	9,836	*,e	Geospace Technologies Corp		136
	66,097	e	Golar LNG Ltd		1,843
	26,945		Green Plains Renewable Energy, Inc		524
	20,444	e	Gulfmark Offshore, Inc		125
	71,494	*	Gulfport Energy Corp		2,122
	270,090	*,e	Halcon Resources Corp		143
	7,892	e	Hallador Petroleum Co		55

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	629,237		Halliburton Co	$	22,244
	77,857	*	Helix Energy Solutions Group, Inc		373
	71,374	e	Helmerich & Payne, Inc		3,373
	186,517		Hess Corp		9,337
	144,439		HollyFrontier Corp		7,054
	23,429	*,e	Hornbeck Offshore Services, Inc		317
	12,002	*,e	Independence Contract Drilling, Inc		60
	100,154	*	ION Geophysical Corp		39
	823	*	Isramco, Inc		82
	19,153	*,e	Jones Energy, Inc (Class A)		92
	1,320,884		Kinder Morgan, Inc		36,562
	115,749	*	Kosmos Energy LLC		646
	90,832	*,e	Laredo Petroleum Holdings, Inc		857
	499,473		Marathon Oil Corp		7,692
	401,716		Marathon Petroleum Corp		18,611
	55,403	*,e	Matador Resources Co		1,149
	19,934	*	Matrix Service Co		448
	180,710	*,e	McDermott International, Inc		777
	61,264	*	Memorial Resource Development Corp		1,077
	131,616		Murphy Oil Corp		3,185
	243,840		Nabors Industries Ltd		2,304
	286,970		National Oilwell Varco, Inc		10,804
	9,713	*	Natural Gas Services Group, Inc		187
	61,477	e	Navios Maritime Acq Corp		216
	120,207	*	Newfield Exploration Co		3,955
	63,344	*	Newpark Resources, Inc		324
	176,953	e	Noble Corp plc		1,931
	317,190		Noble Energy, Inc		9,573
	13,964	e	Nordic American Offshore Ltd		84
	68,002	e	Nordic American Tanker Shipping		1,034
	54,400	e	North Atlantic Drilling Ltd		42
	48,403	*,e	Northern Oil And Gas, Inc		214
	102,607	*,e	Oasis Petroleum, Inc		891
	568,080		Occidental Petroleum Corp		37,578
	73,330		Oceaneering International, Inc		2,880
	38,178	*	Oil States International, Inc		998
	155,126		Oneok, Inc		4,995
	15,683	*,e	Pacific Ethanol, Inc		102
	10,734		Panhandle Oil and Gas, Inc (Class A)		173
	12,018	*	Par Petroleum Corp		250
	96,030	*	Parker Drilling Co		253
	61,450	*,e	Parsley Energy, Inc		926
	109,613		Patterson-UTI Energy, Inc		1,440
	63,909		PBF Energy, Inc		1,804
	29,537	*	PDC Energy, Inc		1,566
	9,723	*	PHI, Inc		184
	397,974		Phillips 66		30,580
	42,944	*	Pioneer Energy Services Corp		90
	110,406		Pioneer Natural Resources Co		13,430
	130,757		Questar Market Resources, Inc		1,638
	124,748	e	Range Resources Corp		4,007
	32,964	*	Renewable Energy Group, Inc		273

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	36,039	*,e	Rex Energy Corp	$	75
	5,384	*	Rex Stores Corp		273
	53,668	*,e	Rice Energy, Inc		867
	9,601	*,e	RigNet, Inc		245
	14,462	*,e	Ring Energy, Inc		143
	93,726		Rowan Cos plc		1,514
	42,512	e	RPC, Inc		376
	40,173	*	RSP Permian, Inc		814
	39,750	*,e	Sanchez Energy Corp		244
	937,471		Schlumberger Ltd		64,657
	129,737		Scorpio Tankers, Inc		1,190
	13,606	*	SEACOR Holdings, Inc		814
	273,827	e	Seadrill Ltd		1,616
	32,387		SemGroup Corp		1,400
	16,055	*,e	Seventy Seven Energy, Inc		22
	45,041	e	Ship Finance International Ltd		732
	284,727	*	Southwestern Energy Co		3,613
	499,265		Spectra Energy Corp		13,116
	49,819	e	St. Mary Land & Exploration Co		1,596
	42,383	*,e	Stone Energy Corp		210
	111,107		Superior Energy Services		1,403
	76,439	*	Synergy Resources Corp		749
	41,398		Targa Resources Investments, Inc		2,133
	34,489		Teekay Corp		1,022
	62,294		Teekay Tankers Ltd (Class A)		430
	26,063		Tesco Corp		186
	93,353		Tesoro Corp		9,078
	61,337	*	Tetra Technologies, Inc		362
	34,989	e	Tidewater, Inc		460
	17,866	*,e	TransAtlantic Petroleum Ltd		45
	35,997	*,e	Triangle Petroleum Corp		51
	113,588	*,e	Ultra Petroleum Corp		726
	36,980	*	Unit Corp		416
	65,643	*,e	Uranium Energy Corp		66
	40,307	e	US Silica Holdings Inc		568
	370,753		Valero Energy Corp		22,282
	26,733	e	W&T Offshore, Inc		80
	573,568	*	Weatherford International Ltd		4,864
	52,354		Western Refining, Inc		2,310
	13,045	*,e	Westmoreland Coal Co		184
	150,984	*	Whiting Petroleum Corp		2,306
	553,984		Williams Cos, Inc		20,414
	54,384		World Fuel Services Corp		1,947
	151,612	*	WPX Energy, Inc		1,004
			TOTAL ENERGY		983,221
FOOD & STAPLES RETAILING - 2.1%
	21,366		Andersons, Inc		728
	28,759		Casey’s General Stores, Inc		2,960
	14,374	*,e	Chefs’ Warehouse Holdings, Inc		204
	325,488		Costco Wholesale Corp		47,056
	828,719		CVS Health Corp		79,955

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	4,199	*,e	Fairway Group Holdings Corp	$	4
	31,233	*,e	Fresh Market, Inc		706
	9,316		Ingles Markets, Inc (Class A)		446
	713,663		Kroger Co		25,742
	6,410	*,e	Natural Grocers by Vitamin C		145
	14,319	e	Pricesmart, Inc		1,107
	731,408	*	Rite Aid Corp		4,440
	17,661	*	Smart & Final Stores, Inc		277
	28,394		Spartan Stores, Inc		734
	112,416	*,e	Sprouts Farmers Market, Inc		2,372
	191,905	*	Supervalu, Inc		1,378
	438,691		Sysco Corp		17,096
	36,929	*	United Natural Foods, Inc		1,791
	4,843		Village Super Market (Class A)		114
	635,883		Walgreens Boots Alliance, Inc		52,842
	1,162,129		Wal-Mart Stores, Inc		75,352
	8,834		Weis Markets, Inc		369
	264,881		Whole Foods Market, Inc		8,383
			TOTAL FOOD & STAPLES RETAILING		324,201
FOOD, BEVERAGE & TOBACCO - 4.9%
	2,319		Alico, Inc		94
	1,448,932		Altria Group, Inc		78,822
	9,627	*	Amplify Snack Brands, Inc		103
	5,199	*,e	Arcadia Biosciences, Inc		16
	458,865		Archer Daniels Midland Co		19,020
	42,015		B&G Foods, Inc (Class A)		1,531
	32,179	*	Blue Buffalo Pet Products, Inc		576
	6,759	*,e	Boston Beer Co, Inc (Class A)		1,424
	44,670	*,e	Boulder Brands, Inc		366
	20,237	e	Brown-Forman Corp		2,165
	93,647		Brown-Forman Corp (Class B)		9,074
	106,137		Bunge Ltd		7,780
	10,841		Calavo Growers, Inc		484
	23,658	e	Cal-Maine Foods, Inc		1,292
	128,947		Campbell Soup Co		6,535
	44,724	*,e	Castle Brands, Inc		59
	3,512		Coca-Cola Bottling Co Consolidated		679
	2,882,456		Coca-Cola Co		115,644
	172,269		Coca-Cola Enterprises, Inc		8,329
	315,962		ConAgra Foods, Inc		12,800
	120,911		Constellation Brands, Inc (Class A)		15,139
	7,653	*	Craft Brewers Alliance, Inc		61
	122,720	*	Darling International, Inc		1,379
	70,011		Dean Foods Co		1,157
	19,435	*	Diamond Foods, Inc		600
	141,887		Dr Pepper Snapple Group, Inc		11,216
	5,320	*	Farmer Bros Co		145
	128,238		Flowers Foods, Inc		3,173
	24,793		Fresh Del Monte Produce, Inc		980
	15,781	*,e	Freshpet, Inc		166
	440,990		General Mills, Inc		24,753

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	76,104	*	Hain Celestial Group, Inc	$	3,927
	108,117		Hershey Co		9,934
	99,035		Hormel Foods Corp		6,270
	52,645		Ingredion, Inc		4,596
	14,455	*,e	Inventure Foods, Inc		128
	11,326		J&J Snack Foods Corp		1,287
	88,147		J.M. Smucker Co		10,057
	5,780		John B. Sanfilippo & Son, Inc		296
	184,673		Kellogg Co		12,290
	95,542		Keurig Green Mountain, Inc		4,982
	436,360		Kraft Heinz Co		30,798
	14,003		Lancaster Colony Corp		1,365
	36,205		Lance, Inc		1,221
	19,323	*	Landec Corp		226
	3,603	*,e	Lifeway Foods, Inc		38
	8,386	e	Limoneira Co		140
	94,535		McCormick & Co, Inc		7,769
	149,746		Mead Johnson Nutrition Co		10,542
	8,017	e	Mgp Ingredients, Inc		128
	101,905		Molson Coors Brewing Co (Class B)		8,460
	1,203,277		Mondelez International, Inc		50,381
	110,616	*	Monster Beverage Corp		14,949
	8,815	*	National Beverage Corp		271
	15,084	*	Omega Protein Corp		256
	1,084,671		PepsiCo, Inc		102,284
	1,145,878		Philip Morris International, Inc		90,903
	48,235	e	Pilgrim’s Pride Corp		1,002
	85,273		Pinnacle Foods, Inc		3,571
	40,255	*	Post Holdings, Inc		2,379
	601,072		Reynolds American, Inc		26,609
	16,213	e	Sanderson Farms, Inc		1,112
	192	*	Seaboard Corp		591
	6,106	*	Seneca Foods Corp		161
	14,223	*,e	Synutra International, Inc		68
	13,988	e	Tootsie Roll Industries, Inc		438
	31,544	*	TreeHouse Foods, Inc		2,454
	217,034		Tyson Foods, Inc (Class A)		9,354
	16,609	e	Universal Corp		823
	59,392	e	Vector Group Ltd		1,343
	129,894	*	WhiteWave Foods Co (Class A)		5,215
			TOTAL FOOD, BEVERAGE & TOBACCO		754,180
HEALTH CARE EQUIPMENT & SERVICES - 5.1%
	5,996	*,e	AAC Holdings, Inc		133
	16,624		Abaxis, Inc		731
	1,101,154		Abbott Laboratories		44,288
	30,796	*	Abiomed, Inc		2,857
	38,100	*	Acadia Healthcare Co, Inc		2,525
	58,290	*,e	Accuray, Inc		291
	20,426		Aceto Corp		561
	4,240	*	Addus HomeCare Corp		132
	4,312	*,e	Adeptus Health, Inc		348

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	258,232		Aetna Inc	$	28,253
	29,433	*,e	Air Methods Corp		1,003
	60,253	*	Align Technology, Inc		3,420
	4,207	*	Alliance HealthCare Services, Inc		41
	133,589	*	Allscripts Healthcare Solutions, Inc		1,656
	5,488	*	Almost Family, Inc		220
	21,596	*	Amedisys, Inc		820
	162,652		AmerisourceBergen Corp		15,450
	34,893	*	AMN Healthcare Services, Inc		1,047
	35,759	*	Amsurg Corp		2,779
	9,253		Analogic Corp		759
	18,523	*	Angiodynamics, Inc		244
	10,943	*	Anika Therapeutics, Inc		348
	112,289	*,e	Antares Pharma, Inc		191
	191,907		Anthem, Inc		26,867
	28,653	*,e	athenahealth, Inc		3,821
	21,089	*	AtriCure, Inc		462
	1,165		Atrion Corp		437
	54,958		Bard (C.R.), Inc		10,239
	401,924		Baxter International, Inc		13,203
	152,792		Becton Dickinson & Co		20,269
	51,896	*,e	BioScrip, Inc		97
	19,708	*	BioTelemetry, Inc		241
	992,117	*	Boston Scientific Corp		16,281
	135,933	*	Brookdale Senior Living, Inc		3,121
	25,974		Cantel Medical Corp		1,473
	21,051	*	Capital Senior Living Corp		422
	244,734		Cardinal Health, Inc		18,800
	23,626	*	Cardiovascular Systems, Inc		374
	24,169	*,e	Castlight Health, Inc		102
	87,960	*	Centene Corp		4,770
	222,136	*	Cerner Corp		13,319
	71,510	*,e	Cerus Corp		325
	12,646		Chemed Corp		1,688
	189,492		Cigna Corp		25,585
	9,010	*	Civitas Solutions, Inc		207
	87,364	*	Community Health Systems, Inc		3,737
	8,700	e	Computer Programs & Systems, Inc		367
	7,574	*	ConforMIS, Inc		137
	20,631		Conmed Corp		985
	5,120	*,e	Connecture, Inc		23
	33,944		Cooper Cos, Inc		5,053
	16,039	*,e	Corindus Vascular Robotics, Inc		50
	7,512	*	Corvel Corp		243
	22,090	*	Cross Country Healthcare, Inc		301
	19,963		CryoLife, Inc		194
	10,389	*	Cutera, Inc		136
	19,727	*	Cyberonics, Inc		1,199
	16,811	*	Cynosure, Inc (Class A)		505
	130,506	*	DaVita, Inc		9,439
	103,471		Dentsply International, Inc		5,233
	58,641	*	DexCom, Inc		5,035

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	26,827	*,e	Diplomat Pharmacy, Inc	$	771
	79,607	*	Edwards Lifesciences Corp		11,318
	5,034	*	EndoChoice Holdings, Inc		57
	47,927	*,e	Endologix, Inc		588
	18,706		Ensign Group, Inc		797
	3,873	*,e	Entellus Medical, Inc		70
	137,365	*	Envision Healthcare Holdings, Inc		5,054
	8,762	*	Evolent Health, Inc		140
	7,074	*	Exactech, Inc		123
	30,586	*	ExamWorks Group, Inc		894
	499,204	*	Express Scripts Holding Co		40,416
	29,310	*	Five Star Quality Care, Inc		91
	27,739	*	Genesis Health Care, Inc		170
	30,765	*,e	GenMark Diagnostics, Inc		242
	4,290	*	Glaukos Corp		104
	49,755	*	Globus Medical, Inc		1,028
	18,875	*	Greatbatch, Inc		1,065
	38,562	*	Haemonetics Corp		1,246
	35,247	*	Halyard Health, Inc		1,002
	25,502	*	Hanger Orthopedic Group, Inc		348
	237,244	*	HCA Holdings, Inc		18,353
	57,109	*	Health Net, Inc		3,439
	26,662	*	HealthEquity, Inc		788
	67,513		Healthsouth Corp		2,590
	18,780	*	HealthStream, Inc		410
	23,599	*	Healthways, Inc		262
	12,504	*,e	HeartWare International, Inc		654
	59,318	*	Henry Schein, Inc		7,873
	42,104		Hill-Rom Holdings, Inc		2,189
	65,676	*	HMS Holdings Corp		576
	181,625	*	Hologic, Inc		7,107
	110,794		Humana, Inc		19,832
	10,376	*	ICU Medical, Inc		1,136
	69,037	*	Idexx Laboratories, Inc		5,126
	6,460	*	Imprivata, Inc		115
	98,565	*	IMS Health Holdings, Inc		2,868
	11,764	*	Inogen Inc		571
	18,510	*,e	Inovalon Holdings, Inc		386
	41,898	*	Insulet Corp		1,086
	18,839	*	Integra LifeSciences Holdings Corp		1,122
	27,216	*	Intuitive Surgical, Inc		12,508
	23,110		Invacare Corp		334
	62,811	*	Inverness Medical Innovations, Inc		3,024
	19,324	*,e	InVivo Therapeutics Holdings Corp		167
	4,264	*	Invuity, Inc		60
	12,768	*	IPC The Hospitalist Co, Inc		992
	2,271	*,e	iRadimed Corp		55
	12,742	*	K2M Group Holdings, Inc		237
	61,383		Kindred Healthcare, Inc		967
	74,337	*	Laboratory Corp of America Holdings		8,063
	7,415		Landauer, Inc		274
	12,000	*	Lantheus Holdings, Inc		52

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	17,363	*	LDR Holding Corp	$	600
	9,523		LeMaitre Vascular, Inc		116
	9,839	*	LHC Group, Inc		440
	32,789	*	LifePoint Hospitals, Inc		2,325
	20,368	*	Magellan Health Services, Inc		1,129
	32,545	*	Masimo Corp		1,255
	171,282		McKesson Corp		31,692
	44,883	*	MedAssets, Inc		900
	40,806	*	Medidata Solutions, Inc		1,718
	1,054,137		Medtronic plc		70,564
	43,385	*	Merge Healthcare, Inc		308
	31,965		Meridian Bioscience, Inc		547
	32,366	*	Merit Medical Systems, Inc		774
	26,015	*,e	Molina Healthcare, Inc		1,791
	7,753		National Healthcare Corp		472
	5,598	e	National Research Corp		67
	24,197	*	Natus Medical, Inc		955
	27,729	*	Neogen Corp		1,248
	11,308	*,e	Nevro Corp		525
	23,606	*,e	Nobilis Health Corp		123
	35,423	*	NuVasive, Inc		1,708
	45,234	*	NxStage Medical, Inc		713
	27,483	*	Omnicell, Inc		855
	36,642	*	OraSure Technologies, Inc		163
	14,876	*	Orthofix International NV		502
	48,050	e	Owens & Minor, Inc		1,535
	14,688	*,e	Oxford Immunotec Global plc		198
	64,882		Patterson Cos, Inc		2,806
	69,267	*	Pediatrix Medical Group, Inc		5,319
	22,536	*	PharMerica Corp		642
	27,598	*	Premier, Inc		949
	7,642	*,e	Press Ganey Holdings, Inc		226
	10,213	*	Providence Service Corp		445
	37,773		Quality Systems, Inc		471
	106,327		Quest Diagnostics, Inc		6,536
	21,781	*	Quidel Corp		411
	25,914	*	RadNet, Inc		144
	104,174		Resmed, Inc		5,309
	37,335	*,e	Rockwell Medical Technologies, Inc		288
	38,631	*	RTI Biologics, Inc		219
	6,279	*	SeaSpine Holdings Corp		102
	8,571	*	Second Sight Medical Products, Inc		51
	77,335		Select Medical Holdings Corp		834
	5,649	*	Sientra, Inc		57
	41,409	*	Sirona Dental Systems, Inc		3,865
	30,482	*,e	Spectranetics Corp		359
	208,009		St. Jude Medical, Inc		13,123
	26,141	*,e	Staar Surgical Co		203
	44,285	e	STERIS Corp		2,877
	249,845		Stryker Corp		23,510
	16,030	*	Surgical Care Affiliates, Inc		524
	11,439	*	SurModics, Inc		250

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	13,125	*,e	Tandem Diabetes Care, Inc	$	116
	53,159	*	Team Health Holdings, Inc		2,872
	6,676	*	Teladoc, Inc		149
	30,961		Teleflex, Inc		3,846
	73,295	*	Tenet Healthcare Corp		2,706
	40,711	*	Thoratec Corp		2,575
	20,401	*,e	TransEnterix, Inc		46
	18,039	*	Triple-S Management Corp (Class B)		321
	14,056	*,e	Trupanion, Inc		106
	90,289	*,e	Unilife Corp		88
	698,987		UnitedHealth Group, Inc		81,089
	37,008	*	Universal American Corp		253
	67,876		Universal Health Services, Inc (Class B)		8,472
	9,158		US Physical Therapy, Inc		411
	2,349		Utah Medical Products, Inc		127
	73,882	*	Varian Medical Systems, Inc		5,451
	12,709	*	Vascular Solutions, Inc		412
	61,078	*	VCA Antech, Inc		3,216
	52,333	*,e	Veeva Systems, Inc		1,225
	10,409	*,e	Veracyte, Inc		49
	15,934	*	Vocera Communications, Inc		182
	32,655	*	WellCare Health Plans, Inc		2,814
	52,696		West Pharmaceutical Services, Inc		2,852
	26,972	*	Wright Medical Group NV		550
	38,008	*,e	Wright Medical Group, Inc		799
	23,878	*	Zeltiq Aesthetics, Inc		765
	125,690		Zimmer Holdings, Inc		11,806
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		797,618
HOUSEHOLD & PERSONAL PRODUCTS - 1.7%
	323,551	e	Avon Products, Inc		1,052
	31,484	*	Central Garden and Pet Co (Class A)		507
	92,822		Church & Dwight Co, Inc		7,788
	94,886		Clorox Co		10,962
	669,213		Colgate-Palmolive Co		42,468
	61,432	e	Coty, Inc		1,663
	46,250		Edgewell Personal Care Co		3,774
	18,991	*,e	Elizabeth Arden, Inc		222
	46,250		Energizer Holdings, Inc		1,790
	155,113		Estee Lauder Cos (Class A)		12,515
	54,206	*,e	Herbalife Ltd		2,954
	56,570	*	HRG Group, Inc		664
	12,258		Inter Parfums, Inc		304
	265,893		Kimberly-Clark Corp		28,993
	8,647	*	Medifast, Inc		232
	5,685	e	Natural Health Trends Corp		186
	5,868		Nature’s Sunshine Products, Inc		70
	43,341	e	Nu Skin Enterprises, Inc (Class A)		1,789
	6,693	*	Nutraceutical International Corp		158
	3,981		Oil-Dri Corp of America		91
	6,476		Orchids Paper Products Co		169
	1,995,456		Procter & Gamble Co		143,553

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	8,319	*	Revlon, Inc (Class A)	$	245
	18,325		Spectrum Brands, Inc		1,677
	4,308	*,e	USANA Health Sciences, Inc		578
	10,793		WD-40 Co		961
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		265,365
INSURANCE - 4.2%
	238,867		ACE Ltd		24,699
	320,815		Aflac, Inc		18,649
	11,833	*	Alleghany Corp		5,539
	70,615		Allied World Assurance Co Holdings Ltd		2,695
	300,857		Allstate Corp		17,522
	32,256	*	AMBAC Financial Group, Inc		467
	56,412	e	American Equity Investment Life Holding Co		1,315
	51,139		American Financial Group, Inc		3,524
	986,152		American International Group, Inc		56,033
	5,469		American National Insurance Co		534
	13,468		Amerisafe, Inc		670
	27,435	e	Amtrust Financial Services, Inc		1,728
	208,448		Aon plc		18,471
	92,386	*	Arch Capital Group Ltd		6,788
	20,996		Argo Group International Holdings Ltd		1,188
	124,079		Arthur J. Gallagher & Co		5,122
	45,798		Aspen Insurance Holdings Ltd		2,128
	50,146		Assurant, Inc		3,962
	111,748		Assured Guaranty Ltd		2,794
	8,461	*	Atlas Financial Holdings, Inc		157
	74,802		Axis Capital Holdings Ltd		4,018
	6,904		Baldwin & Lyons, Inc (Class B)		150
	1,368,681	*	Berkshire Hathaway, Inc (Class B)		178,476
	86,667		Brown & Brown, Inc		2,684
	168,473		Chubb Corp		20,663
	121,446		Cincinnati Financial Corp		6,534
	32,879	*,e	Citizens, Inc (Class A)		244
	19,762		CNA Financial Corp		690
	145,352		Conseco, Inc		2,734
	19,001		Crawford & Co (Class B)		107
	7,812		Donegal Group, Inc (Class A)		110
	6,754		EMC Insurance Group, Inc		157
	24,104		Employers Holdings, Inc		537
	46,342		Endurance Specialty Holdings Ltd		2,828
	6,955	*	Enstar Group Ltd		1,043
	18,735		Erie Indemnity Co (Class A)		1,554
	32,825		Everest Re Group Ltd		5,690
	8,273		FBL Financial Group, Inc (Class A)		509
	10,321		Federated National Holding Co		248
	8,299		Fidelity & Guaranty Life		204
	80,939		First American Financial Corp		3,162
	207,557		FNF Group		7,362
	368,772	*	Genworth Financial, Inc (Class A)		1,704
	20,683	*	Greenlight Capital Re Ltd (Class A)		461
	7,438	*	Hallmark Financial Services		85

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	32,615		Hanover Insurance Group, Inc	$	2,534
	310,194		Hartford Financial Services Group, Inc		14,201
	70,870		HCC Insurance Holdings, Inc		5,490
	6,789	e	HCI Group, Inc		263
	18,411	*	Heritage Insurance Holdings, Inc		363
	29,606		Horace Mann Educators Corp		984
	5,951		Independence Holding Co		77
	8,975		Infinity Property & Casualty Corp		723
	6,910		James River Group Holdings Ltd		186
	2,854		Kansas City Life Insurance Co		134
	32,110		Kemper Corp		1,136
	187,295		Lincoln National Corp		8,889
	230,094		Loews Corp		8,316
	34,934	e	Maiden Holdings Ltd		485
	10,352	*	Markel Corp		8,301
	394,471		Marsh & McLennan Cos, Inc		20,599
	110,912	*	MBIA, Inc		674
	20,342		Mercury General Corp		1,028
	690,310		Metlife, Inc		32,548
	27,288		National General Holdings Corp		526
	6,453		National Interstate Corp		172
	1,551		National Western Life Insurance Co (Class A)		345
	8,338	*	Navigators Group, Inc		650
	193,444		Old Republic International Corp		3,025
	17,609		OneBeacon Insurance Group Ltd (Class A)		247
	35,306		PartnerRe Ltd		4,903
	6,329	*	Patriot National, Inc		100
	40,061	e	Primerica, Inc		1,806
	217,660		Principal Financial Group		10,304
	41,338		ProAssurance Corp		2,028
	434,063		Progressive Corp		13,300
	330,463		Prudential Financial, Inc		25,185
	48,945		Reinsurance Group of America, Inc (Class A)		4,434
	34,077		RenaissanceRe Holdings Ltd		3,623
	32,282		RLI Corp		1,728
	11,093		Safety Insurance Group, Inc		601
	42,211		Selective Insurance Group, Inc		1,311
	31,206		Stancorp Financial Group, Inc		3,564
	11,039		State Auto Financial Corp		252
	21,827	e	State National Cos, Inc		204
	16,901		Stewart Information Services Corp		691
	56,908		Symetra Financial Corp		1,801
	59,998	*	Third Point Reinsurance Ltd		807
	93,324		Torchmark Corp		5,263
	232,088		Travelers Cos, Inc		23,100
	6,929	*	United America Indemnity Ltd		181
	14,881		United Fire & Casualty Co		522
	12,682	e	United Insurance Holdings Corp		167
	22,242		Universal Insurance Holdings, Inc		657
	184,517		UnumProvident Corp		5,919
	62,445		Validus Holdings Ltd		2,814
	71,842		W.R. Berkley Corp		3,906

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	4,504		White Mountains Insurance Group Ltd	$	3,366
	225,629		XL Capital Ltd		8,195
			TOTAL INSURANCE		658,567
MATERIALS - 3.1%
	22,177		A. Schulman, Inc		720
	3,376	*	AEP Industries, Inc		194
	158,806		Air Products & Chemicals, Inc		20,260
	50,241		Airgas, Inc		4,488
	83,129		Albemarle Corp		3,666
	967,634		Alcoa, Inc		9,347
	81,466	e	Allegheny Technologies, Inc		1,155
	20,501	e	American Vanguard Corp		237
	46,295		Aptargroup, Inc		3,054
	49,925		Ashland, Inc		5,023
	67,355		Avery Dennison Corp		3,810
	74,323	*	Axalta Coating Systems Ltd		1,883
	52,910		Axiall Corp		830
	23,190		Balchem Corp		1,409
	102,049		Ball Corp		6,347
	72,213		Bemis Co, Inc		2,857
	87,729	*	Berry Plastics Group, Inc		2,638
	29,817	*	Boise Cascade Co		752
	14,781		Brush Engineered Materials, Inc		444
	46,890		Cabot Corp		1,480
	39,299		Calgon Carbon Corp		612
	37,181		Carpenter Technology Corp		1,107
	112,973		Celanese Corp (Series A)		6,685
	36,798	*,e	Century Aluminum Co		169
	173,457		CF Industries Holdings, Inc		7,788
	5,158		Chase Corp		203
	133,935		Chemours Co		867
	49,786	*	Chemtura		1,425
	14,061	*	Clearwater Paper Corp		664
	66,499	e	Cliffs Natural Resources, Inc		162
	99,412	*,e	Coeur Mining, Inc		280
	85,866		Commercial Metals Co		1,163
	25,270		Compass Minerals International, Inc		1,980
	5,560	*	Core Molding Technologies, Inc		103
	102,511	*	Crown Holdings, Inc		4,690
	52,821		Cytec Industries, Inc		3,901
	8,022		Deltic Timber Corp		480
	47,043		Domtar Corp		1,682
	852,738	e	Dow Chemical Co		36,156
	669,679		Du Pont (E.I.) de Nemours & Co		32,279
	37,135		Eagle Materials, Inc		2,541
	109,907		Eastman Chemical Co		7,113
	195,224		Ecolab, Inc		21,420
	55,318	*	Ferro Corp		606
	40,724	*,e	Flotek Industries, Inc		680
	98,927		FMC Corp		3,355
	835,331		Freeport-McMoRan Copper & Gold, Inc (Class B)		8,094

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	17,819		FutureFuel Corp	$	176
	32,454		Glatfelter		559
	47,286		Globe Specialty Metals, Inc		574
	241,385		Graphic Packaging Holding Co		3,087
	22,699		Greif, Inc (Class A)		724
	37,440		H.B. Fuller Co		1,271
	7,923		Hawkins, Inc		305
	9,402		Haynes International, Inc		356
	54,162	*	Headwaters, Inc		1,018
	262,218	e	Hecla Mining Co		517
	41,317	*,e	Horsehead Holding Corp		126
	152,705		Huntsman Corp		1,480
	15,371		Innophos Holdings, Inc		609
	18,027		Innospec, Inc		838
	59,560		International Flavors & Fragrances, Inc		6,150
	311,342		International Paper Co		11,766
	40,015	*,e	Intrepid Potash, Inc		222
	12,642		Kaiser Aluminum Corp		1,015
	62,146		Kapstone Paper and Packaging Corp		1,026
	7,156		KMG Chemicals, Inc		138
	16,539		Koppers Holdings, Inc		334
	24,388	*	Kraton Polymers LLC		437
	14,288	e	Kronos Worldwide, Inc		89
	104,108	*	Louisiana-Pacific Corp		1,482
	13,887	*	LSB Industries, Inc		213
	281,458		LyondellBasell Industries AF S.C.A		23,462
	49,814		Martin Marietta Materials, Inc		7,569
	25,740		Minerals Technologies, Inc		1,240
	352,154		Monsanto Co		30,053
	257,110		Mosaic Co		7,999
	18,118		Myers Industries, Inc		243
	12,153		Neenah Paper, Inc		708
	6,272		NewMarket Corp		2,239
	370,400		Newmont Mining Corp		5,952
	236,068		Nucor Corp		8,864
	57,229	e	Olin Corp		962
	6,559		Olympic Steel, Inc		65
	23,303		OM Group, Inc		766
	32,453	*	Omnova Solutions, Inc		180
	119,497	*	Owens-Illinois, Inc		2,476
	72,328		Packaging Corp of America		4,351
	88,664	*	Platform Specialty Products Corp		1,122
	65,927		PolyOne Corp		1,934
	201,126		PPG Industries, Inc		17,637
	213,261		Praxair, Inc		21,723
	9,804		Quaker Chemical Corp		756
	31,957	e	Rayonier Advanced Materials, Inc		196
	18,294	*,e	Real Industry, Inc		161
	54,821		Reliance Steel & Aluminum Co		2,961
	20,109	*,e	Rentech, Inc		113
	48,353		Royal Gold, Inc		2,272
	98,420		RPM International, Inc		4,123

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	8,418	*,e	Ryerson Holding Corp	$	44
	19,399		Schnitzer Steel Industries, Inc (Class A)		263
	22,501		Schweitzer-Mauduit International, Inc		774
	33,262		Scotts Miracle-Gro Co (Class A)		2,023
	155,542		Sealed Air Corp		7,292
	31,811	*,e	Senomyx, Inc		142
	34,512		Sensient Technologies Corp		2,116
	59,894		Sherwin-Williams Co		13,343
	88,371		Sigma-Aldrich Corp		12,276
	30,199		Silgan Holdings, Inc		1,572
	74,719		Sonoco Products Co		2,820
	84,463	e	Southern Copper Corp (NY)		2,257
	177,911		Steel Dynamics, Inc		3,056
	13,671		Stepan Co		569
	90,832	*,e	Stillwater Mining Co		938
	18,742	*	Summit Materials, Inc		352
	48,451		SunCoke Energy, Inc		377
	117,929		Tahoe Resources, Inc		913
	29,755	e	TimkenSteel Corp		301
	15,246	*	Trecora Resources		189
	19,671		Tredegar Corp		257
	8,747	*,e	Trinseo S.A.		221
	46,070	e	Tronox Ltd		201
	1,357		United States Lime & Minerals, Inc		62
	108,110	e	United States Steel Corp		1,126
	10,188	*,e	US Concrete, Inc		487
	10,310	e	Valhi, Inc		19
	60,139		Valspar Corp		4,323
	98,368		Vulcan Materials Co		8,774
	30,678		Wausau Paper Corp		196
	29,816		Westlake Chemical Corp		1,547
	193,160		WestRock Co		9,936
	1,617	*	WHX Corp		39
	35,509	*	Worthington Industries, Inc		940
	53,794	*	WR Grace & Co		5,006
			TOTAL MATERIALS		486,189
MEDIA - 3.2%
	16,000		AMC Entertainment Holdings, Inc		403
	44,802	*	AMC Networks, Inc		3,278
	2,614	*	Cable One, Inc		1,096
	149,949		Cablevision Systems Corp (Class A)		4,869
	17,686	*	Carmike Cinemas, Inc		355
	364,893		CBS Corp (Class B)		14,559
	57,360	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		124
	55,580	*,e	Charter Communications, Inc		9,774
	86,069		Cinemark Holdings, Inc		2,796
	28,047		Clear Channel Outdoor Holdings, Inc (Class A)		200
	1,562,836		Comcast Corp (Class A)		88,894
	280,773	e	Comcast Corp (Special Class A)		16,071
	27,056	*,e	Crown Media Holdings, Inc (Class A)		145
	772	*,e	Daily Journal Corp		144

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	115,291	*,e	Discovery Communications, Inc (Class A)	$	3,001
	202,766	*	Discovery Communications, Inc (Class C)		4,925
	160,944	*	DISH Network Corp (Class A)		9,389
	56,592	*,e	DreamWorks Animation SKG, Inc (Class A)		987
	18,269	*	Entercom Communications Corp (Class A)		186
	50,932		Entravision Communications Corp (Class A)		338
	20,714	*,e	Eros International plc		563
	44,238		EW Scripps Co (Class A)		782
	83,857		Gannett Co, Inc		1,235
	34,321	*,e	Global Eagle Entertainment, Inc		394
	46,930	*	Gray Television, Inc		599
	33,505		Harte-Hanks, Inc		118
	6,780	*,e	Hemisphere Media Group, Inc		92
	44,682	*,e	Imax Corp		1,510
	305,436		Interpublic Group of Cos, Inc		5,843
	33,807		John Wiley & Sons, Inc (Class A)		1,691
	14,173		Journal Media Group, Inc		106
	19,204	*	Liberty Broadband Corp (Class A)		988
	49,114	*	Liberty Broadband Corp (Class C)		2,513
	76,559	*	Liberty Media Corp		2,735
	148,129	*	Liberty Media Corp (Class C)		5,104
	70,064	e	Lions Gate Entertainment Corp		2,578
	108,249	*	Live Nation, Inc		2,602
	9,932	*	Loral Space & Communications, Inc		468
	45,934	*	Madison Square Garden, Inc		3,314
	24,833	*	Martha Stewart Living Omnimedia, Inc (Class A)		148
	32,196		MDC Partners, Inc		593
	71,050	*,e	Media General, Inc		994
	26,535	e	Meredith Corp		1,130
	14,154		Morningstar, Inc		1,136
	46,358		National CineMedia, Inc		622
	32,024		New Media Investment Group, Inc		495
	101,324		New York Times Co (Class A)		1,197
	283,916	*	News Corp		3,583
	86,319		News Corp (Class B)		1,107
	23,355		Nexstar Broadcasting Group, Inc (Class A)		1,106
	180,613		Omnicom Group, Inc		11,902
	12,373	*	Reading International, Inc		157
	60,087	e	Regal Entertainment Group (Class A)		1,123
	9,501	*,e	Rentrak Corp		514
	3,654		Saga Communications, Inc		123
	19,984		Scholastic Corp		779
	68,018	e	Scripps Networks Interactive (Class A)		3,346
	49,336	e	Sinclair Broadcast Group, Inc (Class A)		1,249
	1,706,491	*	Sirius XM Holdings, Inc		6,382
	20,194	*	Sizmek, Inc		121
	63,623	*	Starz-Liberty Capital		2,376
	167,714		TEGNA, Inc		3,755
	243,854		Thomson Corp		9,818
	209,139		Time Warner Cable, Inc		37,513
	605,798		Time Warner, Inc		41,649
	81,058		Time, Inc		1,544

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	5,104	*,e	Townsquare Media, Inc	$	50
	59,545		Tribune Co		2,120
	19,202	e	Tribune Publishing Co		151
	916,478		Twenty-First Century Fox, Inc		24,727
	357,708		Twenty-First Century Fox, Inc (Class B)		9,683
	7,706		Viacom, Inc		341
	256,908		Viacom, Inc (Class B)		11,086
	1,247,663		Walt Disney Co		127,511
	21,644	e	World Wrestling Entertainment, Inc (Class A)		366
			TOTAL MEDIA		505,266
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 9.2%
	1,217,272		AbbVie, Inc		66,232
	7,650	*,e	Abeona Therapeutics, Inc		31
	58,718	*	Acadia Pharmaceuticals, Inc		1,942
	16,937	*,e	Accelerate Diagnostics, Inc		274
	16,140	*,e	Acceleron Pharma, Inc		402
	86,253	*,e	Achillion Pharmaceuticals, Inc		596
	31,389	*	Acorda Therapeutics, Inc		832
	7,362	*,e	Adamas Pharmaceuticals, Inc		123
	6,223	*,e	Aduro Biotech, Inc		121
	22,408	*,e	Advaxis, Inc		229
	18,868	*,e	Aegerion Pharmaceuticals, Inc		257
	14,774	*,e	Aerie Pharmaceuticals, Inc		262
	11,005	*,e	Affimed NV		68
	56,476	*,e	Affymetrix, Inc		482
	56,789	*,e	Agenus, Inc		261
	7,692	*,e	Agile Therapeutics, Inc		52
	246,217		Agilent Technologies, Inc		8,453
	19,149	*,e	Agios Pharmaceuticals, Inc		1,352
	7,862	*	Aimmune Therapeutics, Inc		199
	17,982	*	Akebia Therapeutics, Inc		174
	57,933	*	Akorn, Inc		1,651
	17,375	*,e	Albany Molecular Research, Inc		303
	15,261	*	Alder Biopharmaceuticals, Inc		500
	159,574	*	Alexion Pharmaceuticals, Inc		24,956
	27,483	*,e	Alimera Sciences, Inc		61
	109,475	*	Alkermes plc		6,423
	290,068	*	Allergan plc		78,844
	54,942	*	Alnylam Pharmaceuticals, Inc		4,415
	22,606	*,e	AMAG Pharmaceuticals, Inc		898
	562,349		Amgen, Inc		77,784
	71,461	*	Amicus Therapeutics, Inc		1,000
	23,308	*,e	Amphastar Pharmaceuticals, Inc		272
	30,297	*	Anacor Pharmaceuticals, Inc		3,566
	5,767	*,e	ANI Pharmaceuticals, Inc		228
	26,005	*,e	Anthera Pharmaceuticals, Inc		158
	6,215	*	Applied Genetic Technologies Corp		82
	22,162	*	Aratana Therapeutics, Inc		187
	9,150	*	Ardelyx, Inc		158
	179,094	*,e	Arena Pharmaceuticals, Inc		342
	121,910	*,e	Ariad Pharmaceuticals, Inc		712

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	103,770	*,e	Array Biopharma, Inc	$	473
	39,456	*,e	Arrowhead Research Corp		227
	10,432	*,e	Assembly Biosciences, Inc		100
	10,635	*,e	Atara Biotherapeutics, Inc		334
	4,770	*,e	aTyr Pharma, Inc		49
	14,848	*,e	Avalanche Biotechnologies, Inc		122
	9,616	*	Axovant Sciences Ltd		124
	401,924	*	Baxalta, Inc		12,665
	6,155	*,e	Bellicum Pharmaceuticals, Inc		89
	53,741	*,e	BioCryst Pharmaceuticals, Inc		613
	33,888	*,e	BioDelivery Sciences International, Inc		188
	174,066	*	Biogen Idec, Inc		50,794
	118,693	*	BioMarin Pharmaceutical, Inc		12,501
	15,517	*	Bio-Rad Laboratories, Inc (Class A)		2,084
	2,967	*	Biospecifics Technologies Corp		129
	28,168		Bio-Techne Corp		2,604
	37,736	*,e	BioTime, Inc		113
	24,301	*	Bluebird Bio, Inc		2,079
	6,702	*,e	Blueprint Medicines Corp		143
	1,228,895		Bristol-Myers Squibb Co		72,751
	83,145	*	Bruker BioSciences Corp		1,366
	11,074	*,e	Calithera Biosciences, Inc		60
	23,380	*	Cambrex Corp		928
	12,327	*	Cara Therapeutics Inc		176
	9,597	*,e	Carbylan Therapeutics, Inc		34
	61,808	*	Catalent, Inc		1,502
	56,829	*,e	Catalyst Pharmaceuticals, Inc		170
	586,722	*	Celgene Corp		63,466
	73,063	*,e	Celldex Therapeutics, Inc		770
	7,210	*	Cellular Biomedicine Group, Inc		122
	23,546	*	Cempra, Inc		656
	52,661	*,e	Cepheid, Inc		2,380
	35,378	*	Charles River Laboratories International, Inc		2,247
	18,304	*,e	ChemoCentryx, Inc		111
	5,155	*	Chiasma, Inc		102
	30,594	*	Chimerix, Inc		1,169
	3,472	*,e	Cidara Therapeutics, Inc		44
	18,781	*	Clovis Oncology, Inc		1,727
	17,405	*	Coherus Biosciences, Inc		349
	4,897	*,e	Collegium Pharmaceutical, Inc		108
	11,239	*	Concert Pharmaceuticals Inc		211
	47,385	*,e	Corcept Therapeutics, Inc		178
	6,306	*,e	Corium International, Inc		59
	22,172	*,e	CorMedix, Inc		44
	124,587	*,e	CTI BioPharma Corp		182
	84,568	*,e	Curis, Inc		171
	25,879	*	Cytokinetics, Inc		173
	41,833	*,e	CytRx Corp		99
	44,278	*,e	Depomed, Inc		835
	9,514	*	Dermira, Inc		222
	11,644	*,e	Dicerna Pharmaceuticals Inc		96
	84,059	*	Durect Corp		164

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	107,512	*	Dyax Corp	$	2,052
	21,309	*	Dynavax Technologies Corp		523
	6,368	*,e	Eagle Pharmaceuticals, Inc		471
	721,760		Eli Lilly & Co		60,404
	22,262	*	Emergent Biosolutions, Inc		634
	11,786	*,e	Enanta Pharmaceuticals, Inc		426
	153,936	*	Endo International plc		10,665
	33,769	*,e	Endocyte, Inc		155
	21,724	*,e	Epizyme, Inc		279
	9,694	*,e	Esperion Thereapeutics, Inc		229
	65,830	*,e	Exact Sciences Corp		1,184
	147,155	*,e	Exelixis, Inc		826
	18,106	*	Fibrocell Science, Inc		70
	35,519	*,e	FibroGen, Inc		779
	15,788	*	Five Prime Therapeutics, Inc		243
	4,405	*,e	Flex Pharma, Inc		53
	10,288	*,e	Flexion Therapeutics Inc		153
	20,851	*,e	Fluidigm Corp		169
	16,469	*	Foamix Pharmaceuticals Ltd		121
	8,878	*,e	Foundation Medicine, Inc		164
	102,537	*,e	Galena Biopharma, Inc		162
	13,105	*,e	Genocea Biosciences Inc		90
	12,920	*,e	Genomic Health, Inc		273
	114,325	*,e	Geron Corp		316
	1,083,230		Gilead Sciences, Inc		106,362
	4,732	*	Global Blood Therapeutics, Inc		200
	79,065	*,e	Halozyme Therapeutics, Inc		1,062
	26,328	*	Harvard Bioscience, Inc		100
	18,140	*,e	Heron Therapeutics, Inc		443
	4,132	*	Heska Corp		126
	62,986	*,e	Idera Pharmaceuticals, Inc		211
	29,885	*,e	IGI Laboratories, Inc		195
	13,776	*,e	Ignyta, Inc		121
	106,486	*	Illumina, Inc		18,722
	8,484	*,e	Immune Design Corp		104
	65,469	*	Immunogen, Inc		629
	78,549	*,e	Immunomedics, Inc		135
	53,162	*	Impax Laboratories, Inc		1,872
	9,540	*	INC Research Holdings, Inc		382
	115,686	*	Incyte Corp		12,764
	36,466	*	Infinity Pharmaceuticals, Inc		308
	53,727	*,e	Inovio Pharmaceuticals, Inc		311
	45,452	*	Insmed, Inc		844
	17,481	*,e	Insys Therapeutics, Inc		498
	11,788	*,e	Intercept Pharmaceuticals, Inc		1,955
	10,253	*	Intersect ENT, Inc		240
	16,262	*	Intra-Cellular Therapies, Inc		651
	34,324	*,e	Intrexon Corp		1,092
	5,678	*,e	Invitae Corp		41
	90,684	*,e	Ironwood Pharmaceuticals, Inc		945
	89,084	*,e	Isis Pharmaceuticals, Inc		3,601
	45,128	*	Jazz Pharmaceuticals plc		5,993

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	2,040,881		Johnson & Johnson	$	190,516
	8,823	*,e	Juno Therapeutics, Inc		359
	17,078	*,e	Karyopharm Therapeutics, Inc		180
	76,288	*,e	Keryx Biopharmaceuticals, Inc		269
	21,397	*,e	Kite Pharma, Inc		1,191
	19,078	*	KYTHERA Biopharmaceuticals, Inc		1,430
	8,512	*,e	La Jolla Pharmaceutical Co		237
	19,506	*,e	Lannett Co, Inc		810
	30,110	*,e	Lexicon Pharmaceuticals, Inc		323
	13,029	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,116
	34,093	*,e	Lion Biotechnologies, Inc		196
	6,253	*,e	Loxo Oncology, Inc		109
	31,134	*	Luminex Corp		526
	20,612	*	MacroGenics, Inc		442
	86,464	*	Mallinckrodt plc		5,529
	182,057	*,e	MannKind Corp		584
	11,438	*	Medgenics, Inc		89
	48,124	*,e	Medicines Co		1,827
	115,846	*	Medivation, Inc		4,923
	2,076,764		Merck & Co, Inc		102,571
	80,764	*,e	Merrimack Pharmaceuticals, Inc		687
	20,741	*	Mettler-Toledo International, Inc		5,906
	79,969	*,e	MiMedx Group, Inc		772
	7,201	*,e	Mirati Therapeutics, Inc		248
	44,870	*	Momenta Pharmaceuticals, Inc		736
	310,615	*,e	Mylan NV		12,505
	51,930	*,e	Myriad Genetics, Inc		1,946
	7,890	*,e	NanoString Technologies, Inc		126
	5,834	*	NantKwest, Inc		67
	6,000	*	Natera, Inc		65
	97,156	*,e	Navidea Biopharmceuticals, Inc		222
	96,260	*,e	Nektar Therapeutics		1,055
	38,546	*,e	NeoGenomics, Inc		221
	4,046	*	Neos Therapeutics, Inc		85
	63,342	*	Neurocrine Biosciences, Inc		2,520
	14,869	*,e	NewLink Genetics Corp		533
	4,099	*	Nivalis Therapeutics, Inc		53
	33,967	*,e	Northwest Biotherapeutics, Inc		212
	197,815	*	Novavax, Inc		1,399
	26,033	*,e	Ocata Therapeutics, Inc		109
	9,516	*,e	Ocular Therapeutix, Inc		134
	26,874	*,e	Omeros Corp		295
	12,341	*,e	OncoMed Pharmaceuticals, Inc		205
	75,642	*	Oncothyreon, Inc		207
	17,449	*	Ophthotech Corp		707
	221,994	*,e	Opko Health, Inc		1,867
	77,365	*,e	Orexigen Therapeutics, Inc		163
	60,008	*,e	Organovo Holdings, Inc		161
	12,630	*,e	Osiris Therapeutics, Inc		233
	11,187	*,e	Otonomy, Inc		199
	17,337	*,e	OvaScience, Inc		147
	50,411	*,e	Pacific Biosciences of California, Inc		185

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	27,071	*,e	Pacira Pharmaceuticals, Inc	$	1,113
	9,271		Paratek Pharmaceuticals, Inc		176
	40,956	*	Parexel International Corp		2,536
	120,653	e	PDL BioPharma, Inc		607
	146,742	*,e	Peregrine Pharmaceuticals, Inc		150
	83,937	*	PerkinElmer, Inc		3,858
	32,300	*,e	Pernix Therapeutics Holdings, Inc		102
	107,549		Perrigo Co plc		16,914
	12,158	*	Pfenex, Inc		182
	4,529,620		Pfizer, Inc		142,275
	12,927		Phibro Animal Health Corp		409
	34,344	*	Portola Pharmaceuticals, Inc		1,464
	21,766	e	Pozen, Inc		127
	14,756	*,e	PRA Health Sciences, Inc		573
	38,233	*	Prestige Brands Holdings, Inc		1,727
	51,583	*,e	Progenics Pharmaceuticals, Inc		295
	5,400	*,e	Proteon Therapeutics, Inc		75
	23,023	*	Prothena Corp plc		1,044
	25,096	*,e	PTC Therapeutics, Inc		670
	18,465	*,e	Puma Biotechnology, Inc		1,392
	173,674	*	Qiagen NV (NASDAQ)		4,481
	58,607	*	Quintiles Transnational Holdings, Inc		4,077
	21,547	*,e	Radius Health, Inc		1,493
	59,500	*,e	Raptor Pharmaceutical Corp		360
	58,043	*	Regeneron Pharmaceuticals, Inc		26,998
	21,191	*,e	Regulus Therapeutics, Inc		139
	24,090	*,e	Relypsa, Inc		446
	23,464	*	Repligen Corp		653
	25,726	*	Retrophin, Inc		521
	11,732	*,e	Revance Therapeutics, Inc		349
	66,996	*	Rigel Pharmaceuticals, Inc		165
	10,302	*	Sage Therapeutics, Inc		436
	16,776	*	Sagent Pharmaceuticals		257
	52,234	*,e	Sangamo Biosciences, Inc		295
	30,737	*,e	Sarepta Therapeutics, Inc		987
	38,141	*	Sciclone Pharmaceuticals, Inc		265
	70,472	*,e	Seattle Genetics, Inc		2,717
	87,069	*,e	Sequenom, Inc		152
	5,728	*	Seres Therapeutics, Inc		170
	20,814	*,e	Sorrento Therapeutics, Inc		175
	6,016	*,e	Spark Therapeutics, Inc		251
	47,540	*,e	Spectrum Pharmaceuticals, Inc		284
	12,168	*,e	Stemline Therapeutics, Inc		107
	18,349	*	Sucampo Pharmaceuticals, Inc (Class A)		365
	25,007	*	Supernus Pharmaceuticals, Inc		351
	74,731	*,e	Synergy Pharmaceuticals, Inc		396
	67,344	*,e	Synta Pharmaceuticals Corp		117
	7,419	*,e	T2 Biosystems, Inc		65
	17,169	*,e	TESARO, Inc		688
	26,726	*,e	Tetraphase Pharmaceuticals, Inc		199
	26,551	*,e	TG Therapeutics, Inc		268
	93,869	*,e	TherapeuticsMD, Inc		550

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	17,111	*,e	Theravance Biopharma, Inc	$	188
	63,139	e	Theravance, Inc		453
	294,451		Thermo Electron Corp		36,005
	49,684	*,e	Threshold Pharmaceuticals, Inc		202
	7,534	*,e	Tokai Pharmaceuticals, Inc		78
	18,278	*,e	Trevena, Inc		189
	17,931	*,e	Trovagene, Inc		102
	26,573	*	Ultragenyx Pharmaceutical, Inc		2,559
	34,318	*	United Therapeutics Corp		4,504
	31,086	*,e	Vanda Pharmaceuticals, Inc		351
	24,013	*,e	Verastem, Inc		43
	16,572	*,e	Versartis, Inc		191
	180,359	*	Vertex Pharmaceuticals, Inc		18,783
	10,155	*,e	Vitae Pharmaceuticals, Inc		112
	12,289	*,e	Vital Therapies, Inc		50
	74,791	*,e	Vivus, Inc		123
	21,461	*,e	VWR Corp		551
	60,895	*	Waters Corp		7,198
	2,602	*,e	XBiotech, Inc		39
	20,918	*,e	Xencor Inc		256
	42,869	*	Xenoport, Inc		149
	12,439	*,e	Zafgen, Inc		397
	82,699	*,e	ZIOPHARM Oncology, Inc		745
	370,295		Zoetis Inc		15,249
	14,763	*	Zogenix, Inc		199
	13,499	*	ZS Pharma, Inc		886
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,424,598
REAL ESTATE - 4.2%
	50,948		Acadia Realty Trust		1,532
	21,134	e	AG Mortgage Investment Trust		322
	12,770		Agree Realty Corp		381
	36,954		Alexander & Baldwin, Inc		1,269
	1,574		Alexander’s, Inc		589
	53,568		Alexandria Real Estate Equities, Inc		4,536
	675	*	Altisource Asset Management Corp		16
	11,088	*	Altisource Portfolio Solutions S.A.		264
	42,959	e	Altisource Residential Corp		598
	27,018		American Assets Trust,Inc		1,104
	82,450		American Campus Communities, Inc		2,988
	260,529		American Capital Agency Corp		4,872
	37,896		American Capital Mortgage, Inc		559
	120,286		American Homes 4 Rent		1,934
	24,165	e	American Residential Properties, Inc		417
	312,963		American Tower Corp		27,534
	700,505		Annaly Capital Management, Inc		6,914
	79,133		Anworth Mortgage Asset Corp		391
	115,722		Apartment Investment & Management Co (Class A)		4,284
	41,641		Apollo Commercial Real Estate Finance, Inc		654
	136,432	e	Apple Hospitality REIT, Inc		2,534
	22,112		Ares Commercial Real Estate Corp		265
	18,360		Armada Hoffler Properties, Inc		179

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	32,704	*	ARMOUR Residential REIT, Inc	$	655
	20,771		Ashford Hospitality Prime, Inc		291
	61,750		Ashford Hospitality Trust, Inc		377
	7,072	*,e	AV Homes, Inc		96
	97,771		AvalonBay Communities, Inc		17,092
	150,022		BioMed Realty Trust, Inc		2,997
	13,459	e	Bluerock Residential Growth REIT, Inc		161
	113,720		Boston Properties, Inc		13,464
	132,520		Brandywine Realty Trust		1,633
	127,668		Brixmor Property Group, Inc		2,998
	64,335		Camden Property Trust		4,754
	49,200	e	Campus Crest Communities, Inc		262
	71,072		Capstead Mortgage Corp		703
	61,176		Care Capital Properties, Inc		2,014
	23,659		CareTrust REIT, Inc		269
	29,192		CatchMark Timber Trust Inc		300
	124,137		CBL & Associates Properties, Inc		1,707
	212,369	*	CBRE Group, Inc		6,796
	62,949		Cedar Shopping Centers, Inc		391
	175,277		Chambers Street Properties		1,138
	28,285		Chatham Lodging Trust		608
	44,088		Chesapeake Lodging Trust		1,149
	152,396		Chimera Investment Corp		2,038
	80,158		Colony Financial, Inc		1,568
	92,725		Columbia Property Trust, Inc		2,151
	90,140		Communications Sales & Leasing, Inc		1,613
	3,235		Consolidated-Tomoka Land Co		161
	29,137	e	CorEnergy Infrastructure Trust, Inc		129
	17,860		Coresite Realty		919
	69,853		Corporate Office Properties Trust		1,469
	86,682		Corrections Corp of America		2,561
	159,841		Cousins Properties, Inc		1,474
	246,828		Crown Castle International Corp		19,467
	122,396		CubeSmart		3,330
	39,431		CyrusOne, Inc		1,288
	117,682		CYS Investments, Inc		854
	65,501		DCT Industrial Trust, Inc		2,205
	225,998		DDR Corp		3,476
	148,119		DiamondRock Hospitality Co		1,637
	100,633	e	Digital Realty Trust, Inc		6,573
	108,380		Douglas Emmett, Inc		3,113
	254,816		Duke Realty Corp		4,854
	47,457		DuPont Fabros Technology, Inc		1,228
	41,887	e	Dynex Capital, Inc		275
	9,917		Easterly Government Properties, Inc		158
	23,492		EastGroup Properties, Inc		1,273
	34,875		Education Realty Trust, Inc		1,149
	81,930		Empire State Realty Trust, Inc		1,395
	42,164		Entertainment Properties Trust		2,174
	42,058		Equinix, Inc		11,499
	95,895	*	Equity Commonwealth		2,612
	62,982		Equity Lifestyle Properties, Inc		3,689

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	54,213		Equity One, Inc	$	1,320
	269,127		Equity Residential		20,217
	48,297		Essex Property Trust, Inc		10,790
	86,224		Extra Space Storage, Inc		6,653
	50,759		Federal Realty Investment Trust		6,926
	106,273		FelCor Lodging Trust, Inc		751
	82,257		First Industrial Realty Trust, Inc		1,723
	42,783		First Potomac Realty Trust		471
	160,981	*	Forest City Enterprises, Inc (Class A)		3,241
	25,631	*,e	Forestar Real Estate Group, Inc		337
	67,229		Franklin Street Properties Corp		723
	4,942	*	FRP Holdings, Inc		149
	65,188		Gaming and Leisure Properties, Inc		1,936
	426,526		General Growth Properties, Inc		11,077
	54,016		Geo Group, Inc		1,606
	18,098		Getty Realty Corp		286
	15,436		Gladstone Commercial Corp		218
	51,670	e	Government Properties Income Trust		827
	42,165		Gramercy Property Trust, Inc		876
	3,738	e	Great Ajax Corp		46
	24,141	e	Hannon Armstrong Sustainable Infrastructure Capital, Inc		416
	72,018		Hatteras Financial Corp		1,091
	341,610		HCP, Inc		12,725
	72,939		Healthcare Realty Trust, Inc		1,813
	91,905		Healthcare Trust of America, Inc		2,253
	36,742		Hersha Hospitality Trust		833
	69,548		Highwoods Properties, Inc		2,695
	43,293		Home Properties, Inc		3,236
	110,912		Hospitality Properties Trust		2,837
	560,489		Host Marriott Corp		8,861
	29,353	*	Howard Hughes Corp		3,368
	54,955		Hudson Pacific Properties		1,582
	23,981	e	Independence Realty Trust, Inc		173
	64,150		Inland Real Estate Corp		520
	93,191		Invesco Mortgage Capital, Inc		1,141
	90,609		Investors Real Estate Trust		701
	155,234	e	Iron Mountain, Inc		4,815
	64,505	*	iStar Financial, Inc		811
	33,300		Jones Lang LaSalle, Inc		4,788
	67,515		Kennedy-Wilson Holdings, Inc		1,497
	65,193		Kilroy Realty Corp		4,248
	305,650		Kimco Realty Corp		7,467
	60,886		Kite Realty Group Trust		1,450
	29,243		Ladder Capital Corp		419
	59,903		Lamar Advertising Co		3,126
	83,586		LaSalle Hotel Properties		2,373
	152,168		Lexington Realty Trust		1,233
	110,738		Liberty Property Trust		3,489
	27,155		LTC Properties, Inc		1,159
	117,086		Macerich Co		8,995
	67,066		Mack-Cali Realty Corp		1,266
	9,904	*	Marcus & Millichap, Inc		455

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	152,989		Medical Properties Trust, Inc	$	1,692
	277,088		MFA Mortgage Investments, Inc		1,887
	55,794		Mid-America Apartment Communities, Inc		4,568
	41,601		Monmouth Real Estate Investment Corp (Class A)		406
	121,396		Monogram Residential Trust, Inc		1,130
	27,658		National Health Investors, Inc		1,590
	98,792		National Retail Properties, Inc		3,583
	17,361		National Storage Affiliates Trust		235
	145,076	e	New Residential Investment Corp		1,900
	47,726		New Senior Investment Group, Inc		499
	72,745	e	New York Mortgage Trust, Inc		399
	58,364	*	New York REIT, Inc		587
	14,395	e	NexPoint Residential Trust, Inc		192
	253,573		NorthStar Realty Finance Corp		3,132
	135,157		Omega Healthcare Investors, Inc		4,751
	9,027		One Liberty Properties, Inc		193
	10,279	e	Orchid Island Capital, Inc		95
	101,625		Outfront Media, Inc		2,114
	131,030		Paramount Group, Inc		2,201
	62,005		Parkway Properties, Inc		965
	53,141		Pebblebrook Hotel Trust		1,884
	52,388		Pennsylvania REIT		1,039
	57,080		Pennymac Mortgage Investment Trust		883
	51,402		Physicians Realty Trust		776
	116,280		Piedmont Office Realty Trust, Inc		2,080
	131,170		Plum Creek Timber Co, Inc		5,182
	40,153		Post Properties, Inc		2,340
	30,172		Potlatch Corp		869
	16,337	e	Preferred Apartment Communities, Inc		178
	387,082		Prologis, Inc		15,057
	14,667		PS Business Parks, Inc		1,164
	107,500		Public Storage, Inc		22,750
	17,741		QTS Realty Trust, Inc		775
	62,959		RAIT Investment Trust		312
	57,913		Ramco-Gershenson Properties		869
	94,973		Rayonier, Inc		2,096
	9,000		Re/Max Holdings, Inc		324
	108,646	*	Realogy Holdings Corp		4,088
	171,785	e	Realty Income Corp		8,141
	62,979		Redwood Trust, Inc		872
	69,743		Regency Centers Corp		4,334
	22,197	e	Resource Capital Corp		248
	68,690		Retail Opportunities Investment Corp		1,136
	173,060		Retail Properties of America, Inc		2,438
	40,671		Rexford Industrial Realty, Inc		561
	98,016		RLJ Lodging Trust		2,477
	27,910	e	Rouse Properties, Inc		435
	32,495		Ryman Hospitality Properties		1,600
	43,769		Sabra Healthcare REIT, Inc		1,015
	6,582		Saul Centers, Inc		341
	45,730		Select Income REIT		869
	172,632		Senior Housing Properties Trust		2,797

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	28,907		Silver Bay Realty Trust Corp	$	463
	230,221		Simon Property Group, Inc		42,296
	73,589	e	SL Green Realty Corp		7,959
	26,338		Sovran Self Storage, Inc		2,484
	322,513		Spirit Realty Capital, Inc		2,948
	39,283	*,e	St. Joe Co		751
	47,704		STAG Industrial, Inc		869
	173,444		Starwood Property Trust, Inc		3,559
	28,357	e	Starwood Waypoint Residential Trust		676
	24,495		STORE Capital Corp		506
	203,567	*	Strategic Hotels & Resorts, Inc		2,807
	65,192		Summit Hotel Properties, Inc		761
	34,362		Sun Communities, Inc		2,328
	154,167		Sunstone Hotel Investors, Inc		2,040
	70,998		Tanger Factory Outlet Centers, Inc		2,341
	45,765		Taubman Centers, Inc		3,161
	10,268	*	Tejon Ranch Co		224
	31,885		Terreno Realty Corp		626
	270,915		Two Harbors Investment Corp		2,389
	190,771		UDR, Inc		6,578
	15,857		UMH Properties, Inc		147
	22,512	e	United Development Funding IV		396
	9,264		Universal Health Realty Income Trust		435
	66,647		Urban Edge Properties		1,439
	20,808		Urstadt Biddle Properties, Inc (Class A)		390
	244,707		Ventas, Inc		13,718
	585,838	*	VEREIT, Inc		4,523
	139,555		Vornado Realty Trust		12,619
	50,804	e	Washington REIT		1,267
	92,487		Weingarten Realty Investors		3,062
	262,629		Welltower, Inc		17,785
	28,538	e	Western Asset Mortgage Capital Corp		360
	383,367		Weyerhaeuser Co		10,481
	16,673	e	Whitestone REIT		192
	76,656		WP Carey, Inc		4,431
	139,812		WP GLIMCHER, Inc		1,630
	82,478	e	Xenia Hotels & Resorts, Inc		1,440
			TOTAL REAL ESTATE		654,462
RETAILING - 5.1%
	18,290	*	1-800-FLOWERS.COM, Inc (Class A)		166
	48,207		Aaron’s, Inc		1,741
	51,631	e	Abercrombie & Fitch Co (Class A)		1,094
	54,065		Advance Auto Parts, Inc		10,247
	280,373	*	Amazon.com, Inc		143,520
	144,288	e	American Eagle Outfitters, Inc		2,255
	6,968	*	America’s Car-Mart, Inc		231
	20,121	*	Asbury Automotive Group, Inc		1,633
	125,805	*	Ascena Retail Group, Inc		1,750
	53,118	*	Autonation, Inc		3,090
	22,594	*	AutoZone, Inc		16,354
	23,237	*	Barnes & Noble Education, Inc		295

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	36,768		Barnes & Noble, Inc	$	445
	23,033	e	Bebe Stores, Inc		22
	126,200	*	Bed Bath & Beyond, Inc		7,196
	223,553		Best Buy Co, Inc		8,298
	14,390		Big 5 Sporting Goods Corp		149
	39,947	e	Big Lots, Inc		1,914
	8,578	*	Blue Nile, Inc		288
	8,549	*	Boot Barn Holdings, Inc		158
	21,122	e	Buckle, Inc		781
	8,786	*	Build-A-Bear Workshop, Inc		166
	55,229	*	Burlington Stores, Inc		2,819
	37,763	*,e	Cabela’s, Inc		1,722
	32,106		Caleres, Inc		980
	155,244	*	Carmax, Inc		9,209
	19,356		Cato Corp (Class A)		659
	106,541		Chico’s FAS, Inc		1,676
	15,377		Children’s Place Retail Stores, Inc		887
	33,880	*	Christopher & Banks Corp		38
	11,556		Citi Trends, Inc		270
	20,933	*,e	Conn’s, Inc		503
	11,400	*,e	Container Store Group, Inc		161
	17,156		Core-Mark Holding Co, Inc		1,123
	57,355		CST Brands, Inc		1,931
	32,976	*	Destination XL Group, Inc		192
	68,108		Dick’s Sporting Goods, Inc		3,379
	17,487	e	Dillard’s, Inc (Class A)		1,528
	220,231		Dollar General Corp		15,954
	166,226	*	Dollar Tree, Inc		11,081
	54,370		DSW, Inc (Class A)		1,376
	14,596	*,e	Etsy, Inc		200
	29,701	*	EVINE Live, Inc		78
	71,508		Expedia, Inc		8,415
	62,822	*	Express Parent LLC		1,123
	9,437	*,e	Fenix Parts, Inc		63
	33,805		Finish Line, Inc (Class A)		652
	40,021	*,e	Five Below, Inc		1,344
	103,567		Foot Locker, Inc		7,454
	31,625	*	Francesca’s Holdings Corp		387
	27,215		Fred’s, Inc (Class A)		322
	13,967	*	FTD Cos, Inc		416
	79,426	e	GameStop Corp (Class A)		3,273
	176,472		Gap, Inc		5,029
	17,487	*	Genesco, Inc		998
	112,007		Genuine Parts Co		9,284
	64,081		GNC Holdings, Inc		2,590
	17,254		Group 1 Automotive, Inc		1,469
	367,718	*	Groupon, Inc		1,199
	44,451	e	Guess?, Inc		949
	16,062		Haverty Furniture Cos, Inc		377
	18,371	*,e	Hibbett Sports, Inc		643
	954,839		Home Depot, Inc		110,275
	24,109		HSN, Inc		1,380

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	228,517	*,e	JC Penney Co, Inc	$	2,123
	12,718		Kirkland’s, Inc		274
	150,129		Kohl’s Corp		6,952
	182,388		L Brands, Inc		16,439
	12,586	*,e	Lands’ End, Inc		340
	349,686	*	Liberty Interactive Corp		9,172
	55,902	*	Liberty TripAdvisor Holdings, Inc		1,239
	103,346	*	Liberty Ventures		4,170
	16,930		Lithia Motors, Inc (Class A)		1,830
	225,488	*	LKQ Corp		6,395
	703,865		Lowe’s Companies, Inc		48,510
	19,294	*,e	Lumber Liquidators, Inc		254
	246,363		Macy’s, Inc		12,643
	18,578	*	MarineMax, Inc		263
	15,036	*,e	Mattress Firm Holding Corp		628
	36,113		Men’s Wearhouse, Inc		1,536
	45,299	*	Michaels Cos, Inc		1,046
	23,604		Monro Muffler, Inc		1,594
	33,411	*	Murphy USA, Inc		1,836
	313,817	*	NetFlix, Inc		32,405
	103,654		Nordstrom, Inc		7,433
	20,499		Nutri/System, Inc		544
	405,707	*	Office Depot, Inc		2,605
	6,870	*	Ollie’s Bargain Outlet Holdings, Inc		111
	73,193	*	O’Reilly Automotive, Inc		18,298
	13,643	e	Outerwall, Inc		777
	8,893	*,e	Overstock.com, Inc		153
	17,507	*,e	Party City Holdco, Inc		280
	31,428		Penske Auto Group, Inc		1,522
	40,957	*	PEP Boys - Manny Moe & Jack		499
	14,837	e	PetMed Express, Inc		239
	67,032	e	Pier 1 Imports, Inc		463
	38,061	*	Priceline.com, Inc		47,076
	38,310		Rent-A-Center, Inc		929
	24,409	*,e	Restoration Hardware Holdings, Inc		2,278
	306,119		Ross Stores, Inc		14,838
	116,394	*	Sally Beauty Holdings, Inc		2,764
	9,887	*,e	Sears Holdings Corp		223
	38,951	*	Select Comfort Corp		852
	10,447		Shoe Carnival, Inc		249
	27,812	*	Shutterfly, Inc		994
	59,364		Signet Jewelers Ltd		8,081
	24,526		Sonic Automotive, Inc (Class A)		501
	13,281	*,e	Sportsman’s Warehouse Holdings, Inc		164
	25,073	e	Stage Stores, Inc		247
	474,361		Staples, Inc		5,564
	21,273		Stein Mart, Inc		206
	9,938	*	Systemax, Inc		74
	472,181		Target Corp		37,142
	83,552		Tiffany & Co		6,452
	21,071	*,e	Tile Shop Holdings, Inc		252
	6,790	*	Tilly’s, Inc		50

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	503,295		TJX Companies, Inc	$	35,945
	100,834		Tractor Supply Co		8,502
	78,243		Travelport Worldwide Ltd		1,034
	83,065	*	TripAdvisor, Inc		5,235
	32,864	*,e	Tuesday Morning Corp		178
	47,521	*	Ulta Salon Cosmetics & Fragrance, Inc		7,763
	72,158	*	Urban Outfitters, Inc		2,120
	22,533	*	Vitamin Shoppe, Inc		735
	11,570	*	VOXX International Corp (Class A)		86
	14,711	*,e	Wayfair, Inc		516
	11,292	*	West Marine, Inc		99
	67,891		Williams-Sonoma, Inc		5,183
	1,945		Winmark Corp		200
	48,558	*,e	zulily, Inc		845
	15,828	*,e	Zumiez, Inc		247
			TOTAL RETAILING		795,398
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.3%
	29,482	*	Advanced Energy Industries, Inc		775
	474,503	*,e	Advanced Micro Devices, Inc		816
	15,539	*,e	Alpha & Omega Semiconductor Ltd		121
	222,869		Altera Corp		11,161
	23,188	*,e	Ambarella, Inc		1,340
	73,241	*	Amkor Technology, Inc		329
	231,943		Analog Devices, Inc		13,084
	910,561		Applied Materials, Inc		13,376
	59,771	*,e	Applied Micro Circuits Corp		317
	308,399		Atmel Corp		2,489
	187,870		Avago Technologies Ltd		23,486
	83,398	*	Axcelis Technologies, Inc		223
	408,338		Broadcom Corp (Class A)		21,001
	52,087		Brooks Automation, Inc		610
	17,924	*	Cabot Microelectronics Corp		694
	9,758	*	Cascade Microtech, Inc		138
	40,828	*	Cavium Networks, Inc		2,506
	15,710	*	Ceva, Inc		292
	47,684	*	Cirrus Logic, Inc		1,502
	18,761		Cohu, Inc		185
	80,918	*,e	Cree, Inc		1,961
	244,851		Cypress Semiconductor Corp		2,086
	28,713	*	Diodes, Inc		614
	19,178	*	DSP Group, Inc		175
	105,554	*	Entegris, Inc		1,392
	28,026	*	Exar Corp		167
	85,675	*	Fairchild Semiconductor International, Inc		1,203
	55,687	*	First Solar, Inc		2,381
	40,961	*	Formfactor, Inc		278
	82,106	*	Freescale Semiconductor Holdings Ltd		3,003
	28,079	*	Inphi Corp		675
	109,667	*	Integrated Device Technology, Inc		2,226
	23,137		Integrated Silicon Solution, Inc		497
	3,494,881		Intel Corp		105,336

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	96,768		Intersil Corp (Class A)	$	1,132
	16,725		IXYS Corp		187
	118,149		Kla-Tencor Corp		5,907
	50,517	*	Kopin Corp		159
	117,211		Lam Research Corp		7,657
	90,159	*	Lattice Semiconductor Corp		347
	176,955		Linear Technology Corp		7,140
	17,278	*	MA-COM Technology Solutions		501
	334,640		Marvell Technology Group Ltd		3,028
	54,353	*	Mattson Technology, Inc		127
	209,405		Maxim Integrated Products, Inc		6,994
	37,977	*	MaxLinear, Inc		472
	161,151	e	Microchip Technology, Inc		6,944
	799,251	*	Micron Technology, Inc		11,973
	70,791	*	Microsemi Corp		2,323
	39,433		MKS Instruments, Inc		1,322
	29,204		Monolithic Power Systems, Inc		1,495
	18,167	*	Nanometrics, Inc		220
	21,168	*,e	NeoPhotonics Corp Ltd		144
	3,184		NVE Corp		155
	397,834		Nvidia Corp		9,807
	42,436	*	Omnivision Technologies, Inc		1,114
	317,509	*	ON Semiconductor Corp		2,985
	20,605	*	PDF Solutions, Inc		206
	18,677		Pericom Semiconductor Corp		341
	46,544	*	Photronics, Inc		422
	130,681	*	PMC - Sierra, Inc		885
	22,599		Power Integrations, Inc		953
	110,554	*	Qorvo, Inc		4,980
	84,186	*	Rambus, Inc		993
	25,190	*	Rudolph Technologies, Inc		314
	49,258	*	Semtech Corp		744
	25,567	*	Sigma Designs, Inc		176
	32,473	*	Silicon Laboratories, Inc		1,349
	141,463		Skyworks Solutions, Inc		11,913
	201,565	*,e	SunEdison, Inc		1,447
	40,052	*,e	SunPower Corp		803
	157,133		Teradyne, Inc		2,830
	39,803		Tessera Technologies, Inc		1,290
	761,500		Texas Instruments, Inc		37,709
	23,500	*	Ultra Clean Holdings		135
	21,651	*	Ultratech, Inc		347
	29,696	*,e	Veeco Instruments, Inc		609
	37,527	*	Xcerra Corp		236
	191,407		Xilinx, Inc		8,116
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		365,370
SOFTWARE & SERVICES - 11.2%
	24,811	*	A10 Networks, Inc		149
	462,436		Accenture plc		45,439
	86,241	*	ACI Worldwide, Inc		1,821
	373,272		Activision Blizzard, Inc		11,530

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	32,107	*	Actua Corp	$	378
	57,158	*	Acxiom Corp		1,129
	370,138	*	Adobe Systems, Inc		30,433
	132,262	*	Akamai Technologies, Inc		9,134
	5,086	*	Alarm.com Holdings, Inc		59
	45,840	*	Alliance Data Systems Corp		11,872
	212,520	*	Alphabet, Inc (Class A)		135,666
	216,860	*	Alphabet, Inc (Class C)		131,942
	11,882	*,e	Amber Road, Inc		50
	114,365		Amdocs Ltd		6,505
	15,720	*	American Software, Inc (Class A)		148
	32,146	*,e	Angie’s List, Inc		162
	66,392	*	Ansys, Inc		5,852
	3,095	*,e	Apigee Corp		33
	7,274	*	Appfolio, Inc		123
	63,153	*	Aspen Technology, Inc		2,394
	168,621	*	Autodesk, Inc		7,443
	345,034		Automatic Data Processing, Inc		27,727
	30,408	*	AVG Technologies NV		661
	50,870	*	Bankrate, Inc		526
	5,965	*,e	Barracuda Networks, Inc		93
	44,088	*,e	Bazaarvoice, Inc		199
	5,721	*,e	Benefitfocus, Inc		179
	15,413	*	Black Knight Financial Services, Inc		502
	35,258		Blackbaud, Inc		1,979
	40,135	*	Blackhawk Network Holdings, Inc		1,701
	30,473	*	Blucora, Inc		420
	75,290		Booz Allen Hamilton Holding Co		1,973
	29,562	*	Bottomline Technologies, Inc		739
	9,849	*,e	Box, Inc		124
	20,694	*	Brightcove, Inc		102
	88,805		Broadridge Financial Solutions, Inc		4,915
	21,331	*	BroadSoft, Inc		639
	233,581		CA, Inc		6,377
	17,838	*	CACI International, Inc (Class A)		1,319
	216,614	*	Cadence Design Systems, Inc		4,480
	40,638	*	Callidus Software, Inc		690
	13,412	*	Carbonite, Inc		149
	33,955	*	Cardtronics, Inc		1,110
	13,954	*,e	Care.com, Inc		72
	8,603		Cass Information Systems, Inc		423
	118,692		CDK Global, Inc		5,671
	15,814	*	ChannelAdvisor Corp		157
	52,926	*	Ciber, Inc		168
	24,317	*,e	Cimpress NV		1,851
	118,705	*	Citrix Systems, Inc		8,224
	451,695	*	Cognizant Technology Solutions Corp (Class A)		28,281
	33,614	*	Commvault Systems, Inc		1,141
	102,697		Computer Sciences Corp		6,304
	25,588	*	comScore, Inc		1,181
	23,960	*	Constant Contact, Inc		581
	73,137		Convergys Corp		1,690

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	40,208	*	Cornerstone OnDemand, Inc	$	1,327
	23,982	*	CoStar Group, Inc		4,150
	45,152	*,e	Coupons.com, Inc		406
	24,883		CSG Systems International, Inc		766
	17,592	*	Cvent, Inc		592
	15,267	*	Datalink Corp		91
	24,614	*,e	Demandware, Inc		1,272
	32,513	*	DHI Group, Inc		238
	5,437	e	Digimarc Corp		166
	37,568	*,e	Digital Turbine, Inc		68
	27,103		DST Systems, Inc		2,850
	77,306		EarthLink Holdings Corp		601
	894,311	*	eBay, Inc		21,857
	19,966	e	Ebix, Inc		498
	229,813	*	Electronic Arts, Inc		15,570
	21,694	*	Ellie Mae, Inc		1,444
	43,380	*,e	Endurance International Group Holdings, Inc		580
	20,747	*,e	EnerNOC, Inc		164
	25,859	*	Envestnet, Inc		775
	36,125	*	EPAM Systems, Inc		2,692
	25,591		EPIQ Systems, Inc		331
	3,943	*	ePlus, Inc		312
	37,881	*	Euronet Worldwide, Inc		2,807
	51,313	*	Everi Holdings, Inc		263
	48,388		EVERTEC, Inc		874
	15,773	*	Everyday Health, Inc		144
	24,918	*	ExlService Holdings, Inc		920
	1,594,908	*	Facebook, Inc		143,382
	30,901		Factset Research Systems, Inc		4,938
	23,064		Fair Isaac Corp		1,949
	209,784		Fidelity National Information Services, Inc		14,072
	102,019	*,e	FireEye, Inc		3,246
	67,170	*	First American Corp		2,501
	170,999	*	Fiserv, Inc		14,810
	18,028	*	Five9, Inc		67
	67,800	*	FleetCor Technologies, Inc		9,331
	28,477	*,e	FleetMatics Group plc		1,398
	8,265		Forrester Research, Inc		260
	105,618	*	Fortinet, Inc		4,487
	61,489	*	Gartner, Inc		5,161
	118,380	*	Genpact Ltd		2,795
	20,054	*	Gigamon, Inc		401
	49,296		Global Payments, Inc		5,656
	11,456	*,e	Globant S.A.		350
	88,947	*,e	Glu Mobile, Inc		389
	17,503	*,e	GoDaddy, Inc		441
	42,541	*,e	Gogo, Inc		650
	55,694	*,e	GrubHub, Inc		1,356
	18,192	*	GTT Communications, Inc		423
	13,242	*,e	Guidance Software, Inc		80
	51,316	*	Guidewire Software, Inc		2,698
	17,956		Hackett Group, Inc		247

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	27,069		Heartland Payment Systems, Inc	$	1,706
	70,903	*	HomeAway, Inc		1,882
	5,610	*,e	Hortonworks, Inc		123
	14,191	*	HubSpot, Inc		658
	52,417		IAC/InterActiveCorp		3,421
	19,610	*	Imperva, Inc		1,284
	41,826	*	Infoblox, Inc		668
	12,605	*	Interactive Intelligence, Inc		374
	40,309	*	Internap Network Services Corp		247
	667,219		International Business Machines Corp		96,727
	200,684		Intuit, Inc		17,811
	36,074		j2 Global, Inc		2,556
	60,792		Jack Henry & Associates, Inc		4,232
	30,270	*,e	Jive Software, Inc		141
	58,933	e	King Digital Entertainment plc		798
	19,259	*	Knot, Inc		272
	49,809		Leidos Holdings, Inc		2,058
	50,961	*	Limelight Networks, Inc		97
	80,906	*	LinkedIn Corp		15,383
	44,720	*	Lionbridge Technologies		221
	19,090	*,e	Liquidity Services, Inc		141
	40,701	*	Liveperson, Inc		308
	18,232	*	LogMeIn, Inc		1,243
	13,441	*	Luxoft Holding, Inc		851
	54,701	*	Manhattan Associates, Inc		3,408
	18,418		Mantech International Corp (Class A)		473
	25,119		Marchex, Inc (Class B)		101
	20,549	*,e	Marin Software, Inc		64
	25,709	*,e	Marketo, Inc		731
	734,581		Mastercard, Inc (Class A)		66,201
	48,838		MAXIMUS, Inc		2,909
	73,403		Mentor Graphics Corp		1,808
	5,971,990		Microsoft Corp		264,320
	6,844	*	MicroStrategy, Inc (Class A)		1,345
	86,729	*,e	Millennial Media, Inc		152
	5,757	*	MINDBODY, Inc		90
	29,654	*,e	MobileIron, Inc		92
	14,483	*	Model N, Inc		145
	33,165	*,e	ModusLink Global Solutions, Inc		95
	22,389	*	MoneyGram International, Inc		180
	29,292		Monotype Imaging Holdings, Inc		639
	70,908	*	Monster Worldwide, Inc		455
	29,548	*,e	NetSuite, Inc		2,479
	42,216	*,e	NeuStar, Inc (Class A)		1,149
	4,154	*,e	New Relic, Inc		158
	48,579		NIC, Inc		860
	187,240	*	Nuance Communications, Inc		3,065
	19,789	*,e	OPOWER, Inc		176
	2,343,471		Oracle Corp		84,646
	155,524	*	Pandora Media, Inc		3,319
	7,197	*,e	Park City Group, Inc		76
	240,713		Paychex, Inc		11,465

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	23,354	*,e	Paycom Software, Inc	$	839
	11,222	*,e	Paylocity Holding Corp		337
	898,445	*	PayPal Holdings, Inc		27,888
	24,918		Pegasystems, Inc		613
	25,493	*	Perficient, Inc		393
	8,684	*	PFSweb, Inc		123
	38,195	*	Progress Software Corp		987
	29,179	*,e	Proofpoint, Inc		1,760
	17,256	*	PROS Holdings, Inc		382
	85,331	*	PTC, Inc		2,708
	14,350	*	Q2 Holdings, Inc		355
	7,729		QAD, Inc (Class A)		198
	67,392	*	QLIK Technologies, Inc		2,456
	18,223	*	Qualys, Inc		519
	20,643	*	QuinStreet, Inc		115
	91,063	*	Rackspace Hosting, Inc		2,247
	5,299	*	Rapid7, Inc		121
	18,038	*	RealNetworks, Inc		74
	39,496	*	RealPage, Inc		656
	135,645	*	Red Hat, Inc		9,750
	6,528		Reis, Inc		148
	28,776	*	RetailMeNot, Inc		237
	39,806	*	RingCentral, Inc		722
	20,141	*,e	Rocket Fuel, Inc		94
	65,478	*	Rovi Corp		687
	18,722	*	Rubicon Project, Inc		272
	83,383		Sabre Corp		2,266
	485,133	*	Salesforce.com, Inc		33,683
	17,304		Sapiens International Corp NV		199
	34,016		Science Applications International Corp		1,368
	21,075	*	Sciquest, Inc		211
	24,634	*	Seachange International, Inc		155
	113,734	*	ServiceNow, Inc		7,899
	46,932	*	ServiceSource International LLC		188
	14,547	*,e	Shutterstock, Inc		440
	26,176	*,e	Silver Spring Networks, Inc		337
	49,819	*	SolarWinds, Inc		1,955
	49,541		Solera Holdings, Inc		2,675
	92,607	*	Splunk, Inc		5,126
	12,246	*	SPS Commerce, Inc		831
	52,847		SS&C Technologies Holdings, Inc		3,701
	10,609	*	Stamps.com, Inc		785
	29,262	*	Sykes Enterprises, Inc		746
	503,573		Symantec Corp		9,805
	28,696	*	Synchronoss Technologies, Inc		941
	107,461	*	Synopsys, Inc		4,963
	23,254	*	Syntel, Inc		1,054
	30,239	*	TA Indigo Holding Corp		251
	36,581	*	Tableau Software, Inc		2,918
	62,894	*	Take-Two Interactive Software, Inc		1,807
	29,444	*	Tangoe, Inc		212
	12,153	*	TechTarget, Inc		104

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	37,654	*	TeleCommunication Systems, Inc (Class A)	$	129
	20,400	*	TeleNav, Inc		159
	13,212		TeleTech Holdings, Inc		354
	104,965	*	Teradata Corp		3,040
	14,409	*	Textura Corp		372
	71,591	*	TiVo, Inc		620
	122,214		Total System Services, Inc		5,552
	6,116	*	Travelzoo, Inc		51
	36,314	*,e	TrueCar, Inc		189
	10,595	*,e	TubeMogul, Inc		111
	418,135	*	Twitter, Inc		11,265
	24,991	*	Tyler Technologies, Inc		3,731
	21,175	*	Ultimate Software Group, Inc		3,791
	38,674	*,e	Unisys Corp		460
	11,210	*	United Online, Inc		112
	105,809	*	Vantiv, Inc		4,753
	6,363	*,e	Varonis Systems, Inc		99
	21,489	*,e	Vasco Data Security International		366
	84,224	*	VeriFone Systems, Inc		2,336
	45,384	*	Verint Systems, Inc		1,958
	73,449	*,e	VeriSign, Inc		5,183
	32,131	*,e	VirnetX Holding Corp		114
	21,946	*	Virtusa Corp		1,126
	1,447,991		Visa, Inc (Class A)		100,867
	60,583	*	VMware, Inc (Class A)		4,773
	28,678	*	WebMD Health Corp (Class A)		1,143
	32,723	*	Website Pros, Inc		690
	382,980		Western Union Co		7,031
	28,569	*	WEX, Inc		2,481
	14,146	*,e	Wix.com Ltd		246
	78,368	*	Workday, Inc		5,396
	4,998	*	Workiva, Inc		76
	8,095	*	Xactly Corp		63
	817,071		Xerox Corp		7,950
	23,310	*	Xoom Corp		580
	16,654	*	Xura, Inc		373
	694,256	*	Yahoo!, Inc		20,071
	47,998	*,e	Yelp, Inc		1,040
	14,042	*	Yodlee, Inc		226
	39,804	*,e	Zendesk, Inc		785
	32,505	*,e	Zillow Group, Inc		934
	65,010	*,e	Zillow Group, Inc (Class C)		1,755
	47,197	*	Zix Corp		199
	565,694	*	Zynga, Inc		1,290
			TOTAL SOFTWARE & SERVICES		1,744,400
TECHNOLOGY HARDWARE & EQUIPMENT - 5.9%
	83,151	*,e	3D Systems Corp		960
	39,852		Adtran, Inc		582
	16,323	*,e	Aerohive Networks, Inc		98
	11,056	*	Agilysys, Inc		123
	9,098	e	Alliance Fiber Optic Products, Inc		155

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	228,592		Amphenol Corp (Class A)	$	11,649
	21,094		Anixter International, Inc		1,219
	4,244,705		Apple, Inc		468,191
	11,231	*,e	Applied Optoelectronics, Inc		211
	24,889	*,e	Arista Networks, Inc		1,523
	100,254	*	ARRIS Group, Inc		2,604
	66,366	*	Arrow Electronics, Inc		3,669
	24,161	*,e	Avid Technology, Inc		192
	92,405		Avnet, Inc		3,944
	34,410		AVX Corp		450
	11,475	e	Badger Meter, Inc		666
	7,316		Bel Fuse, Inc (Class B)		142
	31,469		Belden CDT, Inc		1,469
	39,122	*	Benchmark Electronics, Inc		851
	12,526		Black Box Corp		185
	309,327		Brocade Communications Systems, Inc		3,211
	26,799	*	CalAmp Corp		431
	28,887	*	Calix Networks, Inc		225
	91,884		CDW Corp		3,754
	30,668		Checkpoint Systems, Inc		222
	91,005	*	Ciena Corp		1,886
	3,761,726		Cisco Systems, Inc		98,745
	8,964	*,e	Clearfield, Inc		120
	64,456		Cognex Corp		2,215
	17,685	*	Coherent, Inc		967
	77,590	*	CommScope Holding Co, Inc		2,330
	11,551		Comtech Telecommunications Corp		238
	15,682	*,e	Control4 Corp		128
	930,751		Corning, Inc		15,934
	29,620	*	Cray, Inc		587
	23,637		CTS Corp		437
	27,847		Daktronics, Inc		241
	47,853		Diebold, Inc		1,425
	18,652	*	Digi International, Inc		220
	36,841		Dolby Laboratories, Inc (Class A)		1,201
	46,638	*	Dot Hill Systems Corp		454
	13,244	*	DTS, Inc		354
	13,533	*,e	Eastman Kodak Co		211
	32,770	*	EchoStar Corp (Class A)		1,410
	11,677		Electro Rent Corp		121
	35,264	*	Electronics for Imaging, Inc		1,526
	1,436,792		EMC Corp		34,713
	18,982	*	EMCORE Corp		129
	79,396	*	Extreme Networks, Inc		267
	53,266	*	F5 Networks, Inc		6,168
	26,560	*	Fabrinet		487
	12,851	*	FARO Technologies, Inc		450
	30,706		FEI Co		2,243
	76,718	*	Finisar Corp		854
	30,563	*	Fitbit, Inc		1,152
	104,125		Flir Systems, Inc		2,914
	25,552	*	GSI Group, Inc		325

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	67,185	*	Harmonic, Inc	$	390
	91,398		Harris Corp		6,686
	1,344,424		Hewlett-Packard Co		34,431
	39,772	*	II-VI, Inc		640
	27,939	*,e	Imation Corp		59
	21,661	*	Immersion Corp		243
	95,498	*,e	Infinera Corp		1,868
	113,829		Ingram Micro, Inc (Class A)		3,101
	28,444	*	Insight Enterprises, Inc		735
	26,730		InterDigital, Inc		1,353
	57,029	*	InvenSense, Inc		530
	25,418	*,e	IPG Photonics Corp		1,931
	28,730	*	Itron, Inc		917
	43,041	*	Ixia		624
	143,551		Jabil Circuit, Inc		3,211
	291,880		Juniper Networks, Inc		7,504
	125,388	*	Keysight Technologies, Inc		3,867
	21,162	*	Kimball Electronics, Inc		252
	64,648	*,e	Knowles Corp		1,191
	10,929	*	KVH Industries, Inc		109
	45,344		Lexmark International, Inc (Class A)		1,314
	16,687		Littelfuse, Inc		1,521
	34,637	*	Lumentum Holdings, Inc		587
	23,128	*	Mercury Computer Systems, Inc		368
	1,988	e	Mesa Laboratories, Inc		221
	28,385		Methode Electronics, Inc		905
	131,071	e	Motorola, Inc		8,963
	11,234		MTS Systems Corp		675
	6,959	*	Multi-Fineline Electronix, Inc		116
	83,376		National Instruments Corp		2,317
	125,398	*	NCR Corp		2,853
	229,985		NetApp, Inc		6,808
	26,175	*	Netgear, Inc		764
	67,850	*	Netscout Systems, Inc		2,400
	27,910	*	Newport Corp		384
	37,400	*,e	Nimble Storage, Inc		902
	29,647	*	Novatel Wireless, Inc		65
	72,862	*,e	Oclaro, Inc		168
	14,702	*	OSI Systems, Inc		1,131
	53,646	*	Palo Alto Networks, Inc		9,227
	16,460		Park Electrochemical Corp		290
	6,868		PC Connection, Inc		142
	29,009		Plantronics, Inc		1,475
	25,402	*	Plexus Corp		980
	100,006	*	Polycom, Inc		1,048
	65,614	*	QLogic Corp		673
	1,196,103		Qualcomm, Inc		64,267
	171,155	*,e	Quantum Corp		119
	31,179	*	RealD, Inc		300
	21,664	*	Rofin-Sinar Technologies, Inc		562
	13,791	*	Rogers Corp		733
	55,372	*	Ruckus Wireless, Inc		658

307

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	153,815		SanDisk Corp	$	8,357
	61,646	*	Sanmina Corp		1,317
	21,738	*	Scansource, Inc		771
	43,182	*	ShoreTel, Inc		323
	25,143	*,e	Silicon Graphics International Corp		99
	37,508	*	Sonus Networks, Inc		215
	37,383	*,e	Stratasys Ltd		990
	27,221	*,e	Super Micro Computer, Inc		742
	27,223	*	Synaptics, Inc		2,245
	21,522		SYNNEX Corp		1,831
	26,973	*	Tech Data Corp		1,848
	192,019	*	Trimble Navigation Ltd		3,153
	44,290	*	TTM Technologies, Inc		276
	22,392	e	Ubiquiti Networks, Inc		759
	29,474	*	Universal Display Corp		999
	31,477	*,e	Viasat, Inc		2,024
	173,185	*	Viavi Solutions, Inc		930
	60,568	*,e	Violin Memory, Inc		84
	100,754	e	Vishay Intertechnology, Inc		976
	9,508	*	Vishay Precision Group, Inc		110
	165,870		Western Digital Corp		13,177
	38,312	*	Zebra Technologies Corp (Class A)		2,933
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		913,915
TELECOMMUNICATION SERVICES - 2.2%
	66,124	*	8x8, Inc		547
	4,474,323		AT&T, Inc		145,773
	7,918		Atlantic Tele-Network, Inc		585
	27,406	*	Boingo Wireless, Inc		227
	416,899		CenturyTel, Inc		10,472
	149,815	*	Cincinnati Bell, Inc		467
	34,230	e	Cogent Communications Group, Inc		930
	38,388		Consolidated Communications Holdings, Inc		740
	16,551	*,e	Fairpoint Communications, Inc		255
	743,607	e	Frontier Communications Corp		3,532
	24,304	*	General Communication, Inc (Class A)		419
	348,844	*,e	Globalstar, Inc		548
	7,568	*	Hawaiian Telcom Holdco, Inc		157
	10,513		IDT Corp (Class B)		150
	45,794	*,e	inContact, Inc		344
	25,073		Inteliquent, Inc		560
	20,308	*,e	Intelsat S.A.		131
	60,764	*,e	Iridium Communications, Inc		374
	213,185	*	Level 3 Communications, Inc		9,314
	16,622		Lumos Networks Corp		202
	11,759	*	NTELOS Holdings Corp		106
	44,329	*	Orbcomm, Inc		247
	9,439	*,e	Pacific DataVision, Inc		282
	35,134	*	Premiere Global Services, Inc		483
	95,804	*	SBA Communications Corp (Class A)		10,035
	18,151		Shenandoah Telecom Co		777
	17,224		Spok Holdings, Inc		284

308

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	551,084	*,e	Sprint Corp	$	2,116
	6,721	*,e	Straight Path Communications, Inc		272
	68,830		Telephone & Data Systems, Inc		1,718
	203,125	*	T-Mobile US, Inc		8,086
	9,529	*	US Cellular Corp		338
	3,017,135		Verizon Communications, Inc		131,276
	137,981	*	Vonage Holdings Corp		811
	76,638	e	Windstream Holdings, Inc		471
	105,945	*,e	Zayo Group Holdings, Inc		2,687
			TOTAL TELECOMMUNICATION SERVICES		335,716
TRANSPORTATION - 2.2%
	40,179	*	Air Transport Services Group, Inc		344
	95,969		Alaska Air Group, Inc		7,625
	8,403		Allegiant Travel Co		1,817
	4,641		Amerco, Inc		1,826
	512,493		American Airlines Group, Inc		19,900
	19,331		Arkansas Best Corp		498
	18,341	*	Atlas Air Worldwide Holdings, Inc		634
	78,384	*	Avis Budget Group, Inc		3,424
	20,049	*	Celadon Group, Inc		321
	107,766		CH Robinson Worldwide, Inc		7,304
	42,760		Con-Way, Inc		2,029
	24,453	e	Copa Holdings S.A. (Class A)		1,025
	8,672	*	Covenant Transportation Group, Inc		156
	731,012		CSX Corp		19,664
	603,800		Delta Air Lines, Inc		27,092
	15,158	*,e	Eagle Bulk Shipping, Inc		90
	21,969	*	Echo Global Logistics, Inc		431
	141,591		Expeditors International of Washington, Inc		6,662
	207,313		FedEx Corp		29,849
	22,919		Forward Air Corp		951
	39,257	*	Genesee & Wyoming, Inc (Class A)		2,319
	47,727	*,e	Golden Ocean Group Ltd (Oslo)		117
	34,479	*	Hawaiian Holdings, Inc		851
	36,950	e	Heartland Express, Inc		737
	299,972	*	Hertz Global Holdings, Inc		5,019
	26,734	*	Hub Group, Inc (Class A)		973
	68,104		J.B. Hunt Transport Services, Inc		4,863
	231,738	*	JetBlue Airways Corp		5,972
	81,773		Kansas City Southern Industries, Inc		7,432
	41,240	*	Kirby Corp		2,555
	45,057		Knight Transportation, Inc		1,081
	33,557		Landstar System, Inc		2,130
	50,509		Macquarie Infrastructure Co LLC		3,771
	17,739		Marten Transport Ltd		287
	32,238		Matson, Inc		1,241
	60,245	e	Navios Maritime Holdings, Inc		150
	225,613		Norfolk Southern Corp		17,237
	51,170	*	Old Dominion Freight Line		3,121
	2,470	*	PAM Transportation Services, Inc		82
	6,136		Park-Ohio Holdings Corp		177

309

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	17,329	*	Radiant Logistics, Inc	$	77
	43,045	*	Republic Airways Holdings, Inc		249
	20,933	*	Roadrunner Transportation Services Holdings, Inc		385
	39,438		Ryder System, Inc		2,920
	30,068		Safe Bulkers, Inc		83
	18,094	*	Saia, Inc		560
	137,961	*	Scorpio Bulkers, Inc		201
	40,260		Skywest, Inc		672
	494,314		Southwest Airlines Co		18,804
	53,890	*	Spirit Airlines, Inc		2,549
	63,781	*	Swift Transportation Co, Inc		958
	641,733		Union Pacific Corp		56,736
	280,041	*	United Continental Holdings, Inc		14,856
	518,852		United Parcel Service, Inc (Class B)		51,205
	6,297		Universal Truckload Services, Inc		98
	7,128	*	USA Truck, Inc		123
	69,158	*,e	UTI Worldwide, Inc		317
	18,831	*,e	Virgin America, Inc		645
	34,798		Werner Enterprises, Inc		873
	44,920	*	Wesco Aircraft Holdings, Inc		548
	52,800	*,e	XPO Logistics, Inc		1,258
	23,809	*	YRC Worldwide, Inc		316
			TOTAL TRANSPORTATION		346,190
UTILITIES - 3.2%
	35,975	e	Abengoa Yield plc		595
	502,237		AES Corp		4,917
	88,857		AGL Resources, Inc		5,424
	35,666		Allete, Inc		1,801
	83,430		Alliant Energy Corp		4,880
	179,688		Ameren Corp		7,595
	361,395		American Electric Power Co, Inc		20,549
	29,456		American States Water Co		1,219
	133,205		American Water Works Co, Inc		7,337
	134,973		Aqua America, Inc		3,573
	4,909		Artesian Resources Corp		118
	92,825	e	Atlantic Power Corp		173
	73,233		Atmos Energy Corp		4,261
	45,672		Avista Corp		1,519
	33,522		Black Hills Corp		1,386
	35,650		California Water Service Group		789
	276,377	*	Calpine Corp		4,035
	318,361		Centerpoint Energy, Inc		5,743
	11,590		Chesapeake Utilities Corp		615
	46,444		Cleco Corp		2,473
	203,302		CMS Energy Corp		7,181
	8,405		Connecticut Water Service, Inc		307
	216,563		Consolidated Edison, Inc		14,477
	10,961	e	Consolidated Water Co, Inc		127
	438,500		Dominion Resources, Inc		30,862
	131,940		DTE Energy Co		10,604
	508,163		Duke Energy Corp		36,557

310

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	94,898	*	Dynegy, Inc	$	1,961
	239,987		Edison International		15,136
	30,616		El Paso Electric Co		1,127
	33,239		Empire District Electric Co		732
	132,825		Entergy Corp		8,647
	235,099		Eversource Energy		11,901
	637,066		Exelon Corp		18,921
	311,936		FirstEnergy Corp		9,767
	9,378	e	Genie Energy Ltd		77
	114,306		Great Plains Energy, Inc		3,088
	79,361		Hawaiian Electric Industries, Inc		2,277
	37,236		Idacorp, Inc		2,409
	114,807		ITC Holdings Corp		3,828
	32,340		Laclede Group, Inc		1,763
	144,429		MDU Resources Group, Inc		2,484
	26,250		MGE Energy, Inc		1,081
	11,759		Middlesex Water Co		280
	62,456	e	National Fuel Gas Co		3,122
	63,442		New Jersey Resources Corp		1,905
	324,782		NextEra Energy, Inc		31,682
	234,601		NiSource, Inc		4,352
	22,143		Northwest Natural Gas Co		1,015
	33,520		NorthWestern Corp		1,804
	245,109		NRG Energy, Inc		3,640
	21,934	e	NRG Yield, Inc (Class A)		245
	25,354	e	NRG Yield, Inc (Class C)		294
	147,340		OGE Energy Corp		4,031
	39,547		ONE Gas, Inc		1,793
	27,707	e	Ormat Technologies, Inc		943
	27,545		Otter Tail Corp		718
	38,404	e	Pattern Energy Group, Inc		733
	187,067		Pepco Holdings, Inc		4,531
	354,104		PG&E Corp		18,697
	58,715		Piedmont Natural Gas Co, Inc		2,353
	81,970		Pinnacle West Capital Corp		5,258
	58,763		PNM Resources, Inc		1,648
	58,032		Portland General Electric Co		2,145
	494,370		PPL Corp		16,260
	374,289		Public Service Enterprise Group, Inc		15,780
	130,852		Questar Corp		2,540
	104,543		SCANA Corp		5,882
	183,199		Sempra Energy		17,719
	12,005		SJW Corp		369
	49,250		South Jersey Industries, Inc		1,244
	662,212		Southern Co		29,601
	34,400		Southwest Gas Corp		2,006
	62,722	*	Talen Energy Corp		633
	170,423		TECO Energy, Inc		4,475
	27,892	*	TerraForm Global, Inc		186
	37,840		TerraForm Power, Inc		538
	128,103		UGI Corp		4,460
	41,780		UIL Holdings Corp		2,100

311

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	10,272		Unitil Corp	$	379
	61,078		Vectren Corp		2,566
	15,334	*,e	Vivint Solar, Inc		161
	233,695		WEC Energy Group, Inc		12,204
	96,665		Westar Energy, Inc		3,716
	36,819		WGL Holdings, Inc		2,123
	375,757		Xcel Energy, Inc		13,306
	9,006		York Water Co		189
			TOTAL UTILITIES		493,942
			TOTAL COMMON STOCKS		15,522,158
			(Cost $9,284,589)
RIGHTS / WARRANTS - 0.0%
ENERGY - 0.0%
	15,560	e,m	Magnum Hunter Resources Corp		0
			TOTAL ENERGY		0
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	10,743	m	Forest Laboratories, Inc CVR		10
	6,747	m	Furiex Pharmaceuticals, Inc		66
	4,045	m	Omthera Pharmaceuticals, Inc		2
	28,951	e,m	Trius Therapeutics, Inc		4
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		82
SOFTWARE & SERVICES - 0.0%
	19,206	m	Gerber Scientific, Inc		0
			TOTAL SOFTWARE & SERVICES		0
TELECOMMUNICATION SERVICES - 0.0%
	46,753	m	Leap Wireless International, Inc		118
			TOTAL TELECOMMUNICATION SERVICES		118
			TOTAL RIGHTS / WARRANTS		200
			(Cost $185)
SHORT-TERM INVESTMENTS - 4.0%
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 4.0%
	624,287,440	a,c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust		624,287
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		624,287
			TOTAL SHORT-TERM INVESTMENTS		624,287
			(Cost $624,287)

312

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

	VALUE
	(000)
TOTAL INVESTMENTS - 103.8%	$	16,146,645
(Cost $9,909,061)
OTHER ASSETS & LIABILITIES, NET - (3.8)%		(594,827	)
NET ASSETS - 100.0%	$	15,551,818

	Abbreviation(s):
ETF	Exchange Traded Fund
REIT	Real Estate Investment Trust
SPDR	Standard & Poor’s Depository Receipts

*	Non-income producing
a	Affiliated holding
c	Investments made with cash collateral received from securities on loan.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures transactions.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $619,357,000.
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.

313

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND

BOND MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2015

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BANK LOAN OBLIGATIONS - 0.8%
AUTOMOBILES & COMPONENTS - 0.1%
$	4,950,000	i	Gates Global LLC		4.250	%	07/05/21	$	4,681
	4,423,077	i	INA Beteiligungsgesellschaft mbH		4.250		05/15/20		4,419
			TOTAL AUTOMOBILES & COMPONENTS						9,100
CAPITAL GOODS - 0.0%
	4,248,458	i	TransDigm, Inc		3.750		02/28/20		4,191
			TOTAL CAPITAL GOODS						4,191
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	665,000	i	Staples, Inc		3.500		04/24/21		661
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						661
CONSUMER DURABLES & APPAREL - 0.0%
	1,194,000	i	Hanesbrands, Inc		3.250		04/29/22		1,198
			TOTAL CONSUMER DURABLES & APPAREL						1,198
CONSUMER SERVICES - 0.1%
	3,785,334	i	1011778 BC ULC		3.750		12/10/21		3,765
	3,896,396	i	Hilton Worldwide		3.500		10/26/20		3,883
	4,936,548	i	MGM Resorts International		3.500		12/20/19		4,895
			TOTAL CONSUMER SERVICES						12,543
DIVERSIFIED FINANCIALS - 0.1%
	4,000,000	i	DTZ US Borrower LLC		4.250		11/04/21		3,954
	4,937,343	i	TransUnion LLC		3.500		04/09/21		4,882
			TOTAL DIVERSIFIED FINANCIALS						8,836
ENERGY - 0.0%
	168,582	i	Granite Acquisition, Inc		5.000		12/19/21		165
	3,802,682	i	Granite Acquisition, Inc		5.000		12/19/21		3,720
			TOTAL ENERGY						3,885
FOOD & STAPLES RETAILING - 0.0%
	5,495,549	i	Albertson’s Holdings LLC		5.500		08/25/21		5,492
			TOTAL FOOD & STAPLES RETAILING						5,492
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	3,568,359	i	Capsugel Holdings US, Inc		3.500		08/01/18		3,554
	303,138	i	CHS/Community Health Systems		4.000		01/27/21		303
	1,678,750	i	DaVita HealthCare Partners, Inc		3.500		06/24/21		1,674
	2,953,381	i	Kinetic Concepts, Inc		4.000		11/04/16		2,949
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						8,480

314

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
MATERIALS - 0.1%
$	887,295	i	Eco Services Operations LLC		4.750	%	12/04/21	$	883
	4,917,527	i	Minerals Technologies, Inc		3.750		05/09/21		4,881
	3,366,000	i	Solenis International LP		4.250		07/31/21		3,316
			TOTAL MATERIALS						9,080
MEDIA - 0.1%
	5,000,000	i	CBS Outdoor Americas Capital LLC		3.000		02/01/21		4,967
	4,525,502	i	EMI Music		4.000		08/19/22		4,499
	1,798,963	i	Univision Communications, Inc		4.000		03/01/20		1,786
	3,029,946	i	Virgin Media Investment Holdings Ltd		3.500		06/30/23		2,983
			TOTAL MEDIA						14,235
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	800,000	i	Endo Luxembourg Finance I Co Sarl		3.750		09/26/22		797
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						797
RETAILING - 0.0%
	697,595	i	Dollar Tree, Inc		3.500		07/06/22		698
	847,875	i	PetSmart, Inc		4.250		03/11/22		846
			TOTAL RETAILING						1,544
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	5,703,052	i	Avago Technologies Ltd		3.750		05/06/21		5,695
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						5,695
SOFTWARE & SERVICES - 0.1%
	3,160,030	i	Activision Blizzard, Inc		3.250		10/11/20		3,159
	4,937,343	i	IMS Health, Inc		3.500		03/17/21		4,910
	282,511	i	SS&C Technologies Holdings Europe SARL		4.000		07/08/22		283
	1,785,874	i	SS&C Technologies Holdings, Inc		4.000		07/08/22		1,787
			TOTAL SOFTWARE & SERVICES						10,139
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	1,221,938	i	CommScope, Inc		3.750		12/29/22		1,219
	4,739,547	i	NXP BV		3.250		01/11/20		4,722
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						5,941
UTILITIES - 0.0%
	194,000	i	Calpine Corp		4.000		10/09/19		193
			TOTAL UTILITIES						193
			TOTAL BANK LOAN OBLIGATIONS						102,010
			(Cost $102,661)
BONDS - 97.7%
CORPORATE BONDS - 36.0%
AUTOMOBILES & COMPONENTS - 0.2%
	1,000,000	g	Gates Global LLC		6.000		07/15/22		805
	13,950,000		Johnson Controls, Inc		4.625		07/02/44		12,809
	8,675,000		Magna International, Inc		3.625		06/15/24		8,427

315

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,500,000		Magna International, Inc		4.150	%	10/01/25	$	1,501
	350,000	g	ZF North America Capital, Inc		4.000		04/29/20		333
	175,000	g	ZF North America Capital, Inc		4.500		04/29/22		165
	350,000	g	ZF North America Capital, Inc		4.750		04/29/25		320
			TOTAL AUTOMOBILES & COMPONENTS						24,360
BANKS - 6.5%
	3,100,000	g	Akbank TAS		4.000		01/24/20		2,917
	2,300,000	g	Akbank TAS		5.125		03/31/25		2,076
	2,500,000		Banco de Oro Unibank, Inc		3.875		04/22/16		2,519
	6,250,000	g	Banco Santander Mexico S.A.		4.125		11/09/22		6,171
	4,350,000		Bancolombia S.A.		5.950		06/03/21		4,551
	1,500,000	g	Bank Nederlandse Gemeenten		1.375		03/19/18		1,512
	3,000,000	g	Bank Nederlandse Gemeenten		1.875		06/11/19		3,053
	5,000,000	g	Bank Nederlandse Gemeenten		2.625		04/28/21		5,213
	15,175,000		Bank of America Corp		3.750		07/12/16		15,477
	18,550,000		Bank of America Corp		5.300		03/15/17		19,487
	8,525,000		Bank of America Corp		6.000		09/01/17		9,188
	9,000,000		Bank of America Corp		2.600		01/15/19		9,097
	16,500,000		Bank of America Corp		4.000		01/22/25		16,139
	12,050,000		Bank of America Corp		3.950		04/21/25		11,728
	9,825,000		Bank of America Corp		4.750		04/21/45		9,423
	25,000,000		Bank of Nova Scotia		2.125		09/11/19		25,317
	5,850,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		2.350		02/23/17		5,923
	5,450,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		2.350		09/08/19		5,454
	7,100,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		3.250		09/08/24		7,045
	8,075,000		Barclays plc		2.750		11/08/19		8,127
	13,300,000		Barclays plc		3.650		03/16/25		12,698
	5,190,000	g	BBVA Banco Continental S.A.		3.250		04/08/18		5,235
	3,200,000		Branch Banking & Trust Co		2.300		10/15/18		3,245
	11,850,000		Capital One Bank USA NA		2.950		07/23/21		11,730
	4,500,000		Capital One Bank USA NA		3.375		02/15/23		4,378
	8,425,000		Citigroup, Inc		1.300		11/15/16		8,443
	12,725,000		Citigroup, Inc		3.300		04/27/25		12,400
	13,175,000		Citigroup, Inc		4.400		06/10/25		13,256
	6,800,000		Citigroup, Inc		4.450		09/29/27		6,750
	10,000,000	i	Citigroup, Inc		5.350		12/30/49		9,325
	6,875,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		6,907
	8,650,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		4.625		12/01/23		8,940
	6,425,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		5.750		12/01/43		7,027
	10,275,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		5.250		08/04/45		10,404
	6,600,000	g	Credit Agricole S.A.		2.750		06/10/20		6,695
	6,600,000	g	Credit Agricole S.A.		4.375		03/17/25		6,373
	9,425,000		Discover Bank		3.100		06/04/20		9,518
	5,980,000		Eksportfinans ASA		2.375		05/25/16		5,988
	12,850,000		Fifth Third Bancorp		2.375		04/25/19		12,974
	8,700,000	g	HSBC Bank plc		1.500		05/15/18		8,653
	7,350,000	g	HSBC Bank plc		4.125		08/12/20		7,965
	7,000,000		HSBC Holdings plc		4.250		03/14/24		6,947
	2,100,000		HSBC Holdings plc		6.500		09/15/37		2,473
	5,000,000		HSBC USA, Inc		1.625		01/16/18		4,989
	4,300,000		HSBC USA, Inc		2.375		11/13/19		4,291
	12,700,000		HSBC USA, Inc		2.350		03/05/20		12,526

316

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	17,000,000		HSBC USA, Inc		2.750	%	08/07/20	$	17,055
	2,800,000	g	Industrial & Commercial Bank of China Ltd		4.875		09/21/25		2,754
	24,175,000		JPMorgan Chase & Co		2.750		06/23/20		24,378
	17,000,000		JPMorgan Chase & Co		3.875		02/01/24		17,516
	22,950,000		JPMorgan Chase & Co		3.900		07/15/25		23,478
	5,675,000		JPMorgan Chase & Co		4.250		10/01/27		5,655
	9,400,000		JPMorgan Chase & Co		4.850		02/01/44		9,821
	23,895,000		JPMorgan Chase & Co		4.950		06/01/45		23,981
	3,750,000	i	JPMorgan Chase & Co		5.150		12/30/49		3,536
	9,550,000		KeyBank NA		2.500		12/15/19		9,670
	6,625,000		KeyBank NA		2.250		03/16/20		6,612
	15,650,000		KeyBank NA		3.300		06/01/25		15,509
	4,475,000	g	Macquarie Bank Ltd		2.600		06/24/19		4,499
	9,950,000		Manufacturers & Traders Trust Co		2.100		02/06/20		9,891
	1,500,000	g,i	Oversea-Chinese Banking Corp Ltd		4.000		10/15/24		1,536
	2,325,000	g	PKO Finance AB		4.630		09/26/22		2,398
	10,400,000		PNC Bank NA		2.200		01/28/19		10,513
	11,475,000		PNC Bank NA		2.250		07/02/19		11,547
	17,000,000		PNC Bank NA		2.600		07/21/20		17,225
	10,950,000		PNC Bank NA		2.700		11/01/22		10,566
	17,395,000		PNC Bank NA		2.950		01/30/23		17,021
	6,000,000		PNC Financial Services Group, Inc		3.900		04/29/24		6,071
	4,900,000	g,i	Rabobank Nederland NV		11.000		12/30/49		6,025
	12,000,000		Royal Bank of Canada		1.200		09/19/17		12,001
	11,300,000		Royal Bank of Canada		2.200		07/27/18		11,470
	40,000,000		Royal Bank of Canada		1.875		02/05/20		40,065
	1,400,000	g	Shinhan Bank		2.250		04/15/20		1,391
	15,000,000	g	Skandinaviska Enskilda Banken AB		1.375		05/29/18		14,978
	3,800,000		Sumitomo Mitsui Banking Corp		2.500		07/19/18		3,860
	6,650,000		Sumitomo Mitsui Banking Corp		2.450		01/16/20		6,687
	4,025,000		Sumitomo Mitsui Banking Corp		3.650		07/23/25		4,097
	5,700,000		SunTrust Banks, Inc		2.750		05/01/23		5,486
	50,000,000	g	Toronto-Dominion Bank		1.500		03/13/17		50,333
	7,650,000		Toronto-Dominion Bank		1.125		05/02/17		7,661
	13,300,000	g	Toronto-Dominion Bank		1.950		04/02/20		13,310
	1,325,000	g	Turkiye Garanti Bankasi AS.		4.750		10/17/19		1,302
	1,700,000	g	Turkiye Halk Bankasi AS.		4.750		06/04/19		1,655
	2,350,000	g	Turkiye Is Bankasi		3.750		10/10/18		2,266
	2,775,000	g	Turkiye Is Bankasi		5.500		04/21/19		2,785
	7,100,000		Union Bank NA		2.125		06/16/17		7,175
	5,700,000		UnionBanCal Corp		3.500		06/18/22		5,857
	17,650,000		US Bank NA		2.800		01/27/25		17,194
	10,000,000	g	Westpac Banking Corp		1.850		11/26/18		10,075
	10,850,000		Westpac Banking Corp		2.250		01/17/19		11,004
			TOTAL BANKS						868,456
CAPITAL GOODS - 0.9%
	5,750,000		Caterpillar Financial Services Corp		2.250		12/01/19		5,772
	5,700,000		Caterpillar Financial Services Corp		3.250		12/01/24		5,600
	6,675,000	g	CRH America, Inc		3.875		05/18/25		6,688
	8,000,000		Deere & Co		2.600		06/08/22		7,859
	2,075,000		Eaton Corp		4.000		11/02/32		1,994
	2,600,000		Embraer Netherlands Finance BV		5.050		06/15/25		2,406

317

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,300,000	g	Huntington Ingalls Industries, Inc		5.000	%	12/15/21	$	1,326
	4,250,000		Ingersoll-Rand Luxembourg Finance S.A.		3.550		11/01/24		4,175
	13,250,000		John Deere Capital Corp		1.950		03/04/19		13,322
	8,075,000		John Deere Capital Corp		2.450		09/11/20		8,144
	9,375,000		John Deere Capital Corp		3.400		09/11/25		9,433
	2,690,000	g	Myriad International Holdings BV		5.500		07/21/25		2,637
	1,354,590	g	Odebrecht Offshore Drilling Finance Ltd		6.625		10/01/22		340
	1,812,200	g	Odebrecht Offshore Drilling Finance Ltd		6.750		10/01/22		478
	4,925,000		Rockwell Automation, Inc		2.050		03/01/20		4,944
	4,995,000		Rockwell Automation, Inc		2.875		03/01/25		4,963
	1,250,000	g	Schaeffler Finance BV		4.750		05/15/21		1,231
	6,600,000	g	Siemens Financieringsmaatschappij NV		4.400		05/27/45		6,759
	12,950,000		Timken Co		3.875		09/01/24		12,449
	7,000,000	g	TSMC Global Ltd		1.625		04/03/18		6,937
	5,950,000		United Technologies Corp		4.500		06/01/42		6,073
	6,600,000		United Technologies Corp		4.150		05/15/45		6,408
			TOTAL CAPITAL GOODS						119,938
COMMERCIAL & PROFESSIONAL SERVICES - 0.7%
	2,105,000		21st Century Fox America, Inc		7.625		11/30/28		2,701
	1,578,000		21st Century Fox America, Inc		6.550		03/15/33		1,889
	3,575,000		21st Century Fox America, Inc		6.650		11/15/37		4,268
	3,800,000		21st Century Fox America, Inc		6.900		08/15/39		4,646
	1,425,000		ADT Corp		4.125		04/15/19		1,432
	1,425,000		ADT Corp		6.250		10/15/21		1,470
	1,250,000	g	AECOM Technology Corp		5.750		10/15/22		1,259
	4,875,000	g	AECOM Technology Corp		5.875		10/15/24		4,912
	7,175,000		Air Lease Corp		3.875		04/01/21		7,265
	11,750,000	g	Daimler Finance North America LLC		3.300		05/19/25		11,368
	7,250,000		Fluor Corp		3.500		12/15/24		7,373
	10,290,000		Republic Services, Inc		3.800		05/15/18		10,798
	5,375,000		Republic Services, Inc		3.550		06/01/22		5,511
	6,625,000		Republic Services, Inc		3.200		03/15/25		6,447
	2,000,000		United Rentals North America, Inc		4.625		07/15/23		1,938
	7,150,000		Waste Management, Inc		2.600		09/01/16		7,247
	15,050,000		Waste Management, Inc		2.900		09/15/22		14,912
	2,000,000		Waste Management, Inc		3.900		03/01/35		1,885
	2,225,000		Waste Management, Inc		4.100		03/01/45		2,085
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						99,406
CONSUMER DURABLES & APPAREL - 0.2%
	9,600,000		DR Horton, Inc		3.750		03/01/19		9,660
	3,000,000		Lennar Corp		4.500		11/15/19		3,026
	6,900,000		PVH Corp		4.500		12/15/22		6,676
	2,625,000		Whirlpool Corp		3.700		03/01/23		2,637
			TOTAL CONSUMER DURABLES & APPAREL						21,999
CONSUMER SERVICES - 0.9%
	4,000,000	g	1011778 BC / New Red Fin		6.000		04/01/22		4,060
	2,475,000		GLP Capital LP		4.375		11/01/18		2,494
	5,000,000		Johns Hopkins University		4.083		07/01/53		4,943
	8,000,000		President and Fellows of Harvard College		3.529		10/01/31		7,862
	14,250,000		President and Fellows of Harvard College		3.619		10/01/37		13,955

318

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	11,650,000	g	SABMiller Holdings, Inc		3.750	%	01/15/22	$	11,950
	6,475,000		Service Corp International		5.375		05/15/24		6,742
	800,000	g	Six Flags Entertainment Corp		5.250		01/15/21		800
	40,000,000		Stanford University		4.013		05/01/42		41,110
	21,000,000		University of Chicago		4.151		10/01/45		20,639
			TOTAL CONSUMER SERVICES						114,555
DIVERSIFIED FINANCIALS - 4.9%
	3,875,000		Abbey National Treasury Services plc		4.000		04/27/16		3,945
	2,125,000		AGL Capital Corp		4.400		06/01/43		2,069
	2,000,000		American Express Centurion Bank		6.000		09/13/17		2,163
	5,550,000		American Express Credit Corp		2.250		08/15/19		5,570
	9,750,000		American Express Credit Corp		2.375		05/26/20		9,754
	17,000,000		American Honda Finance Corp		2.450		09/24/20		16,991
	6,250,000	i	Bank of New York Mellon Corp		1.969		06/20/17		6,332
	4,125,000		Bank of New York Mellon Corp		5.450		05/15/19		4,590
	11,550,000	g	Bayer US Finance LLC		2.375		10/08/19		11,700
	8,100,000	g	Bayer US Finance LLC		3.375		10/08/24		8,147
	6,650,000	g	BBVA Bancomer S.A.		6.750		09/30/22		7,199
	2,400,000	g,i	BBVA Bancomer S.A.		5.350		11/12/29		2,358
	10,680,000	g	Caisse Centrale Desjardins du Quebec		2.550		03/24/16		10,783
	24,600,000	g	Caisse Centrale Desjardins du Quebec		1.600		03/06/17		24,831
	10,100,000		Capital One Financial Corp		1.000		11/06/15		10,102
	2,800,000	g	Comcel Trust		6.875		02/06/24		2,758
	3,700,000		Countrywide Financial Corp		6.250		05/15/16		3,805
	7,175,000		Credit Suisse		2.300		05/28/19		7,211
	5,675,000		Credit Suisse		3.000		10/29/21		5,683
	7,225,000	g	Credit Suisse Group Funding Guernsey Ltd		3.800		09/15/22		7,232
	10,250,000	g	Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		9,958
	6,500,000	g	Credit Suisse Group Funding Guernsey Ltd		4.875		05/15/45		6,373
	2,000,000	g	Export-Import Bank of China		2.850		09/16/20		1,988
	10,000,000	g	FMR LLC		4.950		02/01/33		10,682
	11,425,000	g	FMR LLC		5.150		02/01/43		12,141
	6,660,000		Ford Motor Credit Co LLC		4.250		02/03/17		6,882
	3,340,000		Ford Motor Credit Co LLC		6.625		08/15/17		3,606
	6,600,000		Ford Motor Credit Co LLC		2.375		03/12/19		6,548
	13,600,000		Ford Motor Credit Co LLC		3.157		08/04/20		13,585
	13,600,000		Ford Motor Credit Co LLC		4.134		08/04/25		13,544
	4,050,000		General Electric Capital Corp		2.200		01/09/20		4,096
	23,329,000		General Electric Capital Corp		3.100		01/09/23		23,861
	5,000,000		General Electric Capital Corp		5.875		01/14/38		6,244
	375,000		General Electric Capital Corp		6.875		01/10/39		525
	9,650,000		General Motors Financial Co, Inc		3.200		07/13/20		9,533
	3,900,000		General Motors Financial Co, Inc		4.375		09/25/21		3,977
	5,000,000		General Motors Financial Co, Inc		3.450		04/10/22		4,796
	11,075,000		Goldman Sachs Group, Inc		2.375		01/22/18		11,220
	7,800,000		Goldman Sachs Group, Inc		3.625		01/22/23		7,906
	13,575,000		Goldman Sachs Group, Inc		3.500		01/23/25		13,371
	3,100,000		Goldman Sachs Group, Inc		6.750		10/01/37		3,695
	7,675,000		Goldman Sachs Group, Inc		4.800		07/08/44		7,785
	10,550,000		Goldman Sachs Group, Inc		5.150		05/22/45		10,361
	5,425,000	g	Hyundai Capital America		2.600		03/19/20		5,398
	2,750,000	g	Hyundai Capital Services, Inc		3.500		09/13/17		2,835

319

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,425,000		Icahn Enterprises LP		4.875	%	03/15/19	$	1,427
	1,725,000		Icahn Enterprises LP		5.875		02/01/22		1,736
	4,800,000	g	ICICI Bank Ltd		3.500		03/18/20		4,847
	9,250,000		International Lease Finance Corp		5.750		05/15/16		9,389
	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		3,365
	5,000,000		International Lease Finance Corp		5.875		08/15/22		5,325
	1,625,000		Legg Mason, Inc		2.700		07/15/19		1,635
	2,400,000		Legg Mason, Inc		3.950		07/15/24		2,408
	7,870,000	g	Lukoil International Finance BV		3.416		04/24/18		7,555
	21,500,000		Morgan Stanley		1.875		01/05/18		21,549
	8,825,000		Morgan Stanley		2.650		01/27/20		8,867
	19,950,000		Morgan Stanley		2.800		06/16/20		20,094
	9,475,000		Morgan Stanley		3.750		02/25/23		9,684
	24,800,000		Morgan Stanley		3.700		10/23/24		24,928
	9,300,000		Morgan Stanley		4.000		07/23/25		9,509
	8,000,000		Morgan Stanley		4.350		09/08/26		8,045
	7,000,000		Morgan Stanley		3.950		04/23/27		6,745
	7,750,000		Morgan Stanley		6.375		07/24/42		9,590
	3,800,000		National Rural Utilities Cooperative Finance Corp		10.375		11/01/18		4,752
	6,500,000	g	Nederlandse Waterschapsbank NV		1.875		03/13/19		6,615
	5,000,000	g	Nederlandse Waterschapsbank NV		1.875		04/14/22		4,968
	4,000,000	g	Reliance Holdings USA		4.500		10/19/20		4,283
	46,254,211		Tagua Leasing LLC		1.900		07/12/24		46,183
	2,075,000		Textron, Inc		3.875		03/01/25		2,081
	6,800,000	g	UBS Group Funding Jersey Ltd		2.950		09/24/20		6,813
	15,000,000		Unilever Capital Corp		2.100		07/30/20		15,064
	3,375,000		Unilever Capital Corp		3.100		07/30/25		3,431
	20,375,000		Wells Fargo & Co		3.550		09/29/25		20,400
	17,000,000		Wells Fargo & Co		4.300		07/22/27		17,334
	6,650,000		Wells Fargo & Co		3.900		05/01/45		6,130
			TOTAL DIVERSIFIED FINANCIALS						657,264
ENERGY - 2.2%
	7,950,000		Anadarko Petroleum Corp		5.950		09/15/16		8,262
	2,445,000		Anadarko Petroleum Corp		6.950		06/15/19		2,759
	6,650,000		Ashland, Inc		4.750		08/15/22		6,193
	16,500,000		BP Capital Markets plc		1.375		05/10/18		16,384
	13,300,000		BP Capital Markets plc		2.315		02/13/20		13,350
	3,000,000		California Resources Corp		5.000		01/15/20		1,929
	2,080,000		California Resources Corp		6.000		11/15/24		1,248
	6,250,000		Chevron Corp		2.355		12/05/22		6,046
	8,395,000		Cimarex Energy Co		4.375		06/01/24		8,177
	5,475,000		Concho Resources, Inc		5.500		04/01/23		5,201
	2,075,000		Continental Resources, Inc		5.000		09/15/22		1,816
	1,750,000		Dynegy, Inc		6.750		11/01/19		1,754
	5,000,000		Ecopetrol S.A.		5.375		06/26/26		4,363
	1,000,000		Ecopetrol S.A.		5.875		05/28/45		755
	3,250,000		Enbridge Energy Partners LP		5.200		03/15/20		3,484
	8,300,000		Energy Transfer Equity LP		5.500		06/01/27		6,889
	10,450,000		Enterprise Products Operating LLC		3.750		02/15/25		9,988
	7,500,000		Enterprise Products Operating LLC		5.100		02/15/45		6,850
	2,250,000		Exterran Partners LP		6.000		10/01/22		1,884

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,739,000		Husky Energy, Inc		3.950	%	04/15/22	$	2,646
	1,900,000	g	Indo Energy Finance II BV		6.375		01/24/23		798
	1,000,000	g	KMG Finance Sub BV		6.375		04/09/21		979
	5,530,000		Marathon Petroleum Corp		3.500		03/01/16		5,586
	850,000		Marathon Petroleum Corp		3.625		09/15/24		822
	4,240,000		MarkWest Energy Partners LP		5.500		02/15/23		4,108
	3,950,000		Noble Energy, Inc		3.900		11/15/24		3,675
	1,850,000		Noble Energy, Inc		5.250		11/15/43		1,645
	3,050,000		Noble Holding International Ltd		4.000		03/16/18		2,889
	6,000,000		Noble Holding International Ltd		3.950		03/15/22		4,515
	10,850,000		ONE Gas, Inc		2.070		02/01/19		10,857
	3,500,000		ONE Gas, Inc		3.610		02/01/24		3,620
	800,000		Pemex Project Funding Master Trust		5.750		03/01/18		846
	3,900,000		Pemex Project Funding Master Trust		6.625		06/15/35		3,656
	2,000,000	g	Pertamina Persero PT		4.875		05/03/22		1,900
	1,300,000	g	Pertamina Persero PT		4.300		05/20/23		1,186
	1,850,000	i	Petrobras Global Finance BV		1.953		05/20/16		1,744
	2,000,000		Petrobras Global Finance BV		3.250		03/17/17		1,765
	2,000,000	i	Petrobras Global Finance BV		2.429		01/15/19		1,380
	7,800,000		Petrobras Global Finance BV		4.875		03/17/20		5,714
	810,000		Petrobras Global Finance BV		4.375		05/20/23		529
	8,850,000		Petrobras Global Finance BV		6.250		03/17/24		6,461
	3,000,000		Petrobras International Finance Co		3.500		02/06/17		2,666
	4,350,000		Petroleos Mexicanos		3.500		07/18/18		4,398
	2,900,000		Petroleos Mexicanos		8.000		05/03/19		3,277
	1,500,000		Petroleos Mexicanos		4.875		01/24/22		1,491
	15,000,000		Petroleos Mexicanos		1.950		12/20/22		15,116
	8,025,000		Petroleos Mexicanos		2.000		12/20/22		8,102
	2,250,000	g	Petroleos Mexicanos		4.500		01/23/26		2,074
	2,180,000		Petroleos Mexicanos		5.500		06/27/44		1,749
	2,041,667		Petroleum Co of Trinidad & Tobago Ltd		6.000		05/08/22		1,965
	5,775,000		Phillips 66		4.875		11/15/44		5,569
	614,000		Pioneer Natural Resources Co		7.500		01/15/20		706
	10,575,000		Plains All American Pipeline LP		3.600		11/01/24		9,902
	2,674,000		Precision Drilling Trust		6.625		11/15/20		2,333
	1,250,000		Questar Market Resources, Inc		6.875		03/01/21		1,150
	3,335,000		Range Resources Corp		5.000		08/15/22		2,951
	1,425,000		Regency Energy Partners LP		5.875		03/01/22		1,461
	2,300,000		Sabine Pass LNG LP		6.500		11/01/20		2,225
	6,000,000		Shell International Finance BV		2.375		08/21/22		5,791
	4,900,000		Southwestern Energy Co		4.050		01/23/20		4,872
	1,133,000		Southwestern Energy Co		4.100		03/15/22		1,025
	6,650,000		Southwestern Energy Co		4.950		01/23/25		5,918
	2,075,000		Statoil ASA		1.200		01/17/18		2,064
	5,300,000		Statoil ASA		2.450		01/17/23		5,054
	8,875,000		Statoil ASA		4.250		11/23/41		8,753
	3,500,000		Talisman Energy, Inc		3.750		02/01/21		3,301
	2,000,000	g	Targa Resources Partners LP		5.000		01/15/18		1,905
	2,000,000		Tesoro Corp		5.125		04/01/24		1,960
	1,000,000		Total Capital International S.A.		1.000		01/10/17		1,000
	3,400,000		TransCanada PipeLines Ltd		5.850		03/15/36		3,677
	2,750,000	i	TransCanada PipeLines Ltd		6.350		05/15/67		2,320
	800,000	g	Ultra Petroleum Corp		5.750		12/15/18		576

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,750,000	g	Ultra Petroleum Corp		6.125	%	10/01/24	$	1,568
	1,000,000		Vale Overseas Ltd		4.375		01/11/22		885
	2,760,000		Vale Overseas Ltd		6.875		11/21/36		2,191
	2,490,000		Whiting Petroleum Corp		5.750		03/15/21		2,155
	1,050,000		WPX Energy, Inc		7.500		08/01/20		961
	850,000		WPX Energy, Inc		8.250		08/01/23		771
	2,400,000		WPX Energy, Inc		5.250		09/15/24		1,932
			TOTAL ENERGY						300,467
FOOD & STAPLES RETAILING - 0.6%
	19,700,000		CVS Health Corp		2.800		07/20/20		20,017
	8,425,000		CVS Health Corp		3.375		08/12/24		8,469
	13,825,000		CVS Health Corp		3.875		07/20/25		14,257
	4,900,000		Ingles Markets, Inc		5.750		06/15/23		5,035
	7,300,000		Kroger Co		2.950		11/01/21		7,316
	10,750,000		Walgreens Boots Alliance, Inc		2.700		11/18/19		10,896
	11,775,000		Walgreens Boots Alliance, Inc		3.800		11/18/24		11,726
			TOTAL FOOD & STAPLES RETAILING						77,716
FOOD, BEVERAGE & TOBACCO - 1.2%
	4,916,000	g	Anadolu Efes Biracilik Ve Malt Sanayii AS.		3.375		11/01/22		4,074
	14,775,000		Anheuser-Busch InBev Worldwide, Inc		2.500		07/15/22		14,119
	3,620,000		ConAgra Foods, Inc		3.200		01/25/23		3,467
	3,000,000	g	Corp Lindley S.A.		4.625		04/12/23		2,933
	9,400,000		Diageo Capital plc		2.625		04/29/23		9,060
	2,435,000	g	Embotelladora Andina S.A.		5.000		10/01/23		2,592
	7,600,000		Fomento Economico Mexicano SAB de C.V.		2.875		05/10/23		7,112
	6,050,000		General Mills, Inc		2.200		10/21/19		6,108
	3,525,000	g	Grupo Bimbo SAB de C.V.		4.500		01/25/22		3,643
	7,000,000	g	HJ Heinz Co		2.800		07/02/20		7,046
	4,550,000	g	HJ Heinz Co		3.950		07/15/25		4,658
	3,875,000	g	JM Smucker Co		3.500		03/15/25		3,853
	4,115,000		Mead Johnson Nutrition Co		4.900		11/01/19		4,502
	3,075,000		Mondelez International, Inc		4.125		02/09/16		3,109
	6,200,000		Mondelez International, Inc		4.000		02/01/24		6,427
	680,000		PepsiCo, Inc		7.900		11/01/18		804
	20,275,000		PepsiCo, Inc		3.500		07/17/25		20,812
	5,100,000		PepsiCo, Inc		4.250		10/22/44		5,046
	10,100,000		PepsiCo, Inc		4.600		07/17/45		10,561
	2,000,000	g	Pernod-Ricard S.A.		2.950		01/15/17		2,034
	6,850,000	g	Pernod-Ricard S.A.		4.250		07/15/22		7,115
	8,800,000		Philip Morris International, Inc		3.250		11/10/24		8,793
	1,600,000		Philip Morris International, Inc		6.375		05/16/38		1,995
	5,450,000		Reynolds American, Inc		3.250		06/12/20		5,604
	12,850,000		Reynolds American, Inc		4.450		06/12/25		13,451
	3,650,000		Tyson Foods, Inc		3.950		08/15/24		3,719
	2,150,000		Tyson Foods, Inc		4.875		08/15/34		2,192
			TOTAL FOOD, BEVERAGE & TOBACCO						164,829
HEALTH CARE EQUIPMENT & SERVICES - 1.1%
	3,900,000		Becton Dickinson & Co		1.750		11/08/16		3,922
	2,425,000		Becton Dickinson & Co		3.734		12/15/24		2,470
	5,775,000		Becton Dickinson & Co		4.685		12/15/44		5,783

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,000,000		CHS/Community Health Systems		5.125	%	08/01/21	$	1,017
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		3,838
	6,850,000		Express Scripts Holding Co		3.900		02/15/22		7,062
	4,000,000	g	Fresenius Medical Care Capital Trust		5.625		07/31/19		4,270
	4,500,000	g	Fresenius Medical Care Capital Trust		5.750		02/15/21		4,849
	4,560,000		HCA, Inc		6.500		02/15/20		4,970
	4,575,000		HCA, Inc		5.875		03/15/22		4,907
	2,775,000		Laboratory Corp of America Holdings		2.625		02/01/20		2,782
	4,650,000		Laboratory Corp of America Holdings		3.600		02/01/25		4,503
	3,500,000		Mallinckrodt International Finance S.A.		3.500		04/15/18		3,395
	10,450,000		McKesson Corp		4.883		03/15/44		10,514
	10,125,000		Medtronic, Inc		2.500		03/15/20		10,262
	8,450,000		Medtronic, Inc		3.500		03/15/25		8,626
	9,625,000		Medtronic, Inc		4.625		03/15/45		9,930
	7,100,000		Owens & Minor, Inc		3.875		09/15/21		7,164
	8,325,000		Quest Diagnostics, Inc		3.500		03/30/25		8,087
	2,000,000		Tenet Healthcare Corp		4.375		10/01/21		1,950
	6,125,000		Thermo Fisher Scientific, Inc		2.250		08/15/16		6,178
	2,700,000		Thermo Fisher Scientific, Inc		2.400		02/01/19		2,715
	3,100,000		Thermo Fisher Scientific, Inc		3.300		02/15/22		3,110
	4,325,000		Thermo Fisher Scientific, Inc		3.150		01/15/23		4,242
	10,100,000		Zimmer Holdings, Inc		2.700		04/01/20		10,138
	10,975,000		Zimmer Holdings, Inc		3.550		04/01/25		10,751
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						147,435
HOUSEHOLD & PERSONAL PRODUCTS - 0.2%
	7,175,000		Clorox Co		3.800		11/15/21		7,642
	4,900,000		Clorox Co		3.500		12/15/24		4,917
	10,200,000		Colgate-Palmolive Co		4.000		08/15/45		10,202
	4,525,000		Ecolab, Inc		1.450		12/08/17		4,503
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						27,264
INSURANCE - 2.2%
	1,925,000		Aetna, Inc		6.625		06/15/36		2,377
	6,200,000		Allstate Corp		3.150		06/15/23		6,266
	6,200,000		Allstate Corp		4.500		06/15/43		6,239
	7,825,000		American International Group, Inc		2.300		07/16/19		7,888
	16,425,000		American International Group, Inc		4.500		07/16/44		16,137
	6,600,000		American International Group, Inc		4.800		07/10/45		6,742
	19,230,000		Children’s Hospital Medic		4.268		05/15/44		18,730
	3,750,000		Chubb Corp		6.000		05/11/37		4,593
	1,390,000		Cigna Corp		5.125		06/15/20		1,552
	6,900,000		Cigna Corp		4.500		03/15/21		7,415
	4,900,000		Cigna Corp		3.250		04/15/25		4,726
	21,975,000	g	Five Corners Funding Trust		4.419		11/15/23		22,992
	2,800,000		Lincoln National Corp		7.000		06/15/40		3,600
	2,200,000	g,i	Merna Reinsurance IV Ltd		2.480		04/08/16		2,199
	7,675,000		MetLife, Inc		6.750		06/01/16		7,978
	2,000,000		MetLife, Inc		4.368		09/15/23		2,150
	10,000,000		MetLife, Inc		3.000		03/01/25		9,693
	9,500,000		MetLife, Inc		4.721		12/15/44		9,828
	11,050,000		MetLife, Inc		4.050		03/01/45		10,335
	6,600,000	i	MetLife, Inc		5.250		12/30/49		6,550

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,825,000		Principal Financial Group, Inc		1.850	%	11/15/17	$	2,843
	5,000,000		Progressive Corp		3.750		08/23/21		5,345
	8,050,000		Prudential Financial, Inc		7.375		06/15/19		9,479
	8,000,000		Prudential Financial, Inc		5.400		06/13/35		8,794
	7,775,000		Prudential Financial, Inc		5.100		08/15/43		8,249
	4,025,000	i	Prudential Financial, Inc		5.200		03/15/44		3,955
	13,150,000	i	Prudential Financial, Inc		5.375		05/15/45		13,051
	3,000,000	g	Prudential Funding LLC		6.750		09/15/23		3,668
	2,425,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		2,364
	6,100,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		5,827
	4,250,000		Travelers Cos, Inc		5.800		05/15/18		4,701
	7,875,000		UnitedHealth Group, Inc		0.850		10/15/15		7,876
	13,600,000		UnitedHealth Group, Inc		2.700		07/15/20		13,917
	6,650,000		UnitedHealth Group, Inc		3.750		07/15/25		6,877
	13,600,000		UnitedHealth Group, Inc		4.750		07/15/45		14,370
	6,750,000		WellPoint, Inc		3.125		05/15/22		6,683
	7,850,000		WellPoint, Inc		4.625		05/15/42		7,739
	7,000,000		Willis Group Holdings plc		4.125		03/15/16		7,086
	2,400,000		WR Berkley Corp		5.375		09/15/20		2,676
			TOTAL INSURANCE						293,490
MATERIALS - 1.6%
	6,630,000		Air Products & Chemicals, Inc		4.375		08/21/19		7,196
	675,000		Alcoa, Inc		5.125		10/01/24		636
	5,900,000	g	Anglo American Capital plc		3.625		05/14/20		5,148
	4,750,000	g	Anglo American Capital plc		4.875		05/14/25		3,805
	1,365,000		Ball Corp		5.000		03/15/22		1,368
	9,675,000		Barrick Gold Corp		4.100		05/01/23		8,655
	3,417,000		BHP Billiton Finance USA Ltd		5.000		09/30/43		3,458
	2,500,000	g,h	Blue Cube Spinco, Inc		9.750		10/15/23		2,600
	1,425,000	g,h	Blue Cube Spinco, Inc		10.000		10/15/25		1,480
	1,300,000		Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		1,278
	2,300,000	g	Cemex Finance LLC		6.000		04/01/24		2,093
	200,000	g	Cemex SAB de C.V.		6.125		05/05/25		182
	3,175,000		CF Industries, Inc		7.125		05/01/20		3,733
	3,550,000		Corning, Inc		1.450		11/15/17		3,551
	800,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.750		11/04/20		800
	1,600,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.875		11/03/21		1,590
	1,475,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.000		07/17/22		1,350
	2,400,000	g	Corp Nacional del Cobre de Chile-CODELCO		4.500		09/16/25		2,305
	1,275,000	g	Corp Nacional del Cobre de Chile-CODELCO		4.875		11/04/44		1,077
	6,645,000		Crown Americas LLC		6.250		02/01/21		6,886
	1,390,000		Crown Americas LLC		4.500		01/15/23		1,366
	7,850,000		Dow Chemical Co		3.500		10/01/24		7,510
	1,000,000		Eastman Chemical Co		5.500		11/15/19		1,117
	5,450,000		Eastman Chemical Co		3.800		03/15/25		5,322
	6,000,000		EI du Pont de Nemours & Co		4.625		01/15/20		6,585
	3,400,000		Fibria Overseas Finance Ltd		5.250		05/12/24		3,273
	8,775,000	g	Georgia-Pacific LLC		2.539		11/15/19		8,819
	5,375,000	g	Glencore Funding LLC		2.125		04/16/18		4,623
	950,000	g	Glencore Funding LLC		2.500		01/15/19		810
	21,000,000	g	Glencore Funding LLC		2.875		04/16/20		16,800
	6,450,000	g	Glencore Funding LLC		4.625		04/29/24		4,838

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,650,000	g	Glencore Funding LLC		4.000	%	04/16/25	$	5,137
	1,825,000	g	GTL Trade Finance, Inc		5.893		04/29/24		1,501
	19,093,000		International Paper Co		4.750		02/15/22		20,626
	3,650,000		International Paper Co		4.800		06/15/44		3,371
	2,800,000	g	Klabin Finance S.A.		5.250		07/16/24		2,478
	3,000,000		LyondellBasell Industries NV		5.000		04/15/19		3,235
	5,425,000		LyondellBasell Industries NV		4.625		02/26/55		4,616
	1,400,000	g	Mexichem SAB de C.V.		5.875		09/17/44		1,183
	3,000,000		Monsanto Co		2.200		07/15/22		2,778
	2,300,000		Monsanto Co		4.200		07/15/34		2,097
	6,840,000		Nucor Corp		4.000		08/01/23		6,973
	3,800,000	g	OCP S.A.		5.625		04/25/24		3,876
	2,860,000	g	Owens-Brockway Glass Container, Inc		5.375		01/15/25		2,746
	3,150,000		Packaging Corp of America		3.650		09/15/24		3,125
	4,550,000		Rio Tinto Finance USA plc		2.250		12/14/18		4,524
	5,000,000		Rock Tenn Co		3.500		03/01/20		5,176
	3,000,000		Rock Tenn Co		4.000		03/01/23		3,080
	5,066,083	g	Samarco Mineracao S.A.		5.375		09/26/24		4,173
	665,000	g	Sealed Air Corp		6.500		12/01/20		728
	1,370,000	g	Sealed Air Corp		5.250		04/01/23		1,373
	1,675,000		Steel Dynamics, Inc		5.125		10/01/21		1,587
	4,625,000		Teck Resources Ltd		2.500		02/01/18		3,723
	3,200,000		Teck Resources Ltd		3.750		02/01/23		1,952
	1,940,000		Teck Resources Ltd		6.000		08/15/40		1,067
	3,950,000		Teck Resources Ltd		5.200		03/01/42		2,182
	2,000,000	g	Union Andina de Cementos SAA		5.875		10/30/21		1,925
	2,050,000		Vale S.A.		5.625		09/11/42		1,426
			TOTAL MATERIALS						216,912
MEDIA - 1.8%
	6,750,000		CBS Corp		2.300		08/15/19		6,696
	3,500,000		CBS Corp		4.000		01/15/26		3,443
	3,450,000		CBS Corp		4.600		01/15/45		3,039
	11,150,000	g	CCO Safari II LLC		3.579		07/23/20		11,069
	8,295,000	g	CCO Safari II LLC		4.464		07/23/22		8,295
	13,900,000	g	CCO Safari II LLC		4.908		07/23/25		13,839
	1,000,000		Cinemark USA, Inc		5.125		12/15/22		980
	4,275,000		Cinemark USA, Inc		4.875		06/01/23		4,093
	26,000,000		Comcast Corp		4.250		01/15/33		25,790
	6,600,000		Comcast Corp		4.600		08/15/45		6,751
	8,800,000		DIRECTV Holdings LLC		4.450		04/01/24		9,038
	2,775,000		DISH DBS Corp		5.125		05/01/20		2,574
	2,050,000		DISH DBS Corp		5.000		03/15/23		1,717
	2,430,000	g	Gannett Co, Inc		4.875		09/15/21		2,381
	2,925,000	g	Gannett Co, Inc		5.500		09/15/24		2,845
	825,000		Grupo Televisa S.A.		6.000		05/15/18		898
	2,675,000		Grupo Televisa SAB		5.000		05/13/45		2,416
	1,850,000		Lamar Media Corp		5.875		02/01/22		1,922
	2,000,000		Lamar Media Corp		5.000		05/01/23		1,970
	2,000,000		Lamar Media Corp		5.375		01/15/24		2,020
	7,250,000	g	NBC Universal Enterprise, Inc		1.662		04/15/18		7,277
	7,700,000	g	NBC Universal Enterprise, Inc		1.974		04/15/19		7,719
	10,350,000		NBC Universal Media LLC		2.875		01/15/23		10,256

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	8,035,000		Nielsen Finance LLC		4.500	%	10/01/20	$	8,055
	4,650,000		Outfront Media Capital LLC		5.250		02/15/22		4,638
	6,600,000		Scripps Networks Interactive, Inc		2.800		06/15/20		6,534
	3,275,000	g	Sky plc		2.625		09/16/19		3,296
	3,500,000		Starz LLC		5.000		09/15/19		3,482
	5,675,000		Time Warner Cable, Inc		5.875		11/15/40		5,404
	4,075,000		Time Warner Cable, Inc		4.500		09/15/42		3,223
	20,550,000		Time Warner, Inc		2.100		06/01/19		20,568
	19,575,000		Time Warner, Inc		3.600		07/15/25		19,220
	3,825,000		Time Warner, Inc		6.500		11/15/36		4,446
	7,100,000		Time Warner, Inc		4.650		06/01/44		6,778
	1,600,000	g	Time, Inc		5.750		04/15/22		1,500
	7,000,000	g	Univision Communications, Inc		5.125		05/15/23		6,650
	5,400,000		Viacom, Inc		2.500		12/15/16		5,461
	3,000,000		Viacom, Inc		3.500		04/01/17		3,075
	7,375,000		Viacom, Inc		5.850		09/01/43		6,850
	1,525,000	g	Virgin Media Finance plc		6.000		10/15/24		1,468
			TOTAL MEDIA						247,676
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.2%
	16,950,000		AbbVie, Inc		2.500		05/14/20		16,858
	3,700,000		Actavis Funding SCS		3.000		03/12/20		3,704
	5,900,000		Actavis Funding SCS		3.800		03/15/25		5,708
	4,600,000		Amgen, Inc		2.200		05/22/19		4,614
	6,600,000		Amgen, Inc		4.400		05/01/45		6,063
	7,500,000		Biogen, Inc		2.900		09/15/20		7,560
	7,450,000		Celgene Corp		2.875		08/15/20		7,518
	11,575,000		Celgene Corp		3.875		08/15/25		11,582
	1,100,000	g	Endo Finance LLC		6.000		02/01/25		1,074
	3,575,000		Gilead Sciences, Inc		2.350		02/01/20		3,595
	13,600,000		Gilead Sciences, Inc		2.550		09/01/20		13,686
	7,975,000		Gilead Sciences, Inc		3.700		04/01/24		8,164
	6,750,000		Gilead Sciences, Inc		3.650		03/01/26		6,773
	3,140,000		Life Technologies Corp		3.500		01/15/16		3,160
	3,725,000		Mylan, Inc		2.550		03/28/19		3,670
	2,925,000		Perrigo Co plc		4.000		11/15/23		2,909
	12,200,000		Perrigo Finance plc		3.500		12/15/21		12,047
	9,725,000		Perrigo Finance plc		3.900		12/15/24		9,582
	2,850,000		Perrigo Finance plc		4.900		12/15/44		2,709
	13,850,000	g	Roche Holdings, Inc		2.250		09/30/19		14,063
	8,000,000	g	Roche Holdings, Inc		3.350		09/30/24		8,199
	1,675,000	g	Valeant Pharmaceuticals International, Inc		5.500		03/01/23		1,587
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						154,825
REAL ESTATE - 1.1%
	2,310,000		AMB Property LP		4.500		08/15/17		2,424
	5,575,000		Brandywine Operating Partnership LP		4.100		10/01/24		5,461
	4,500,000		Brixmor Operating Partnership LP		3.875		08/15/22		4,541
	5,825,000		Brixmor Operating Partnership LP		3.850		02/01/25		5,659
	3,965,000		Camden Property Trust		4.625		06/15/21		4,279
	3,000,000		Camden Property Trust		2.950		12/15/22		2,911
	5,175,000		DCT Industrial Operating Partnership LP		4.500		10/15/23		5,351
	6,800,000		Developers Diversified Realty Corp		4.750		04/15/18		7,196

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,460,000		Developers Diversified Realty Corp		7.875	%	09/01/20	$	4,227
	2,075,000		Equinix, Inc		4.875		04/01/20		2,111
	2,250,000		Equinix, Inc		5.375		01/01/22		2,239
	2,750,000		Equity One, Inc		3.750		11/15/22		2,694
	2,754,000		Essex Portfolio LP		3.375		01/15/23		2,746
	2,775,000		Healthcare Realty Trust, Inc		5.750		01/15/21		3,110
	1,625,000		Healthcare Realty Trust, Inc		3.750		04/15/23		1,591
	6,600,000		Healthcare Realty Trust, Inc		3.875		05/01/25		6,415
	3,700,000		Healthcare Trust of America Holdings LP		3.375		07/15/21		3,701
	3,550,000		Healthcare Trust of America Holdings LP		3.700		04/15/23		3,480
	1,600,000		Highwoods Realty LP		5.850		03/15/17		1,703
	9,205,000		Kilroy Realty LP		3.800		01/15/23		9,164
	3,050,000		Kilroy Realty LP		4.375		10/01/25		3,079
	6,400,000		Liberty Property LP		4.125		06/15/22		6,558
	3,600,000		Mid-America Apartments LP		4.300		10/15/23		3,698
	5,525,000		Mid-America Apartments LP		3.750		06/15/24		5,426
	3,600,000		National Retail Properties, Inc		3.800		10/15/22		3,650
	5,425,000		National Retail Properties, Inc		3.300		04/15/23		5,281
	225,000		Regency Centers LP		5.875		06/15/17		240
	7,225,000		Regency Centers LP		3.900		11/01/25		7,285
	3,040,000		Simon Property Group LP		10.350		04/01/19		3,823
	1,255,000	g	Trust F		5.250		12/15/24		1,283
	4,100,000		Ventas Realty LP		4.125		01/15/26		4,135
	1,170,000		Weingarten Realty Investors		3.375		10/15/22		1,157
	4,800,000		Weingarten Realty Investors		3.500		04/15/23		4,717
	3,025,000		Weingarten Realty Investors		4.450		01/15/24		3,142
	3,950,000		Weingarten Realty Investors		3.850		06/01/25		3,919
	8,675,000		Welltower, Inc		4.000		06/01/25		8,676
			TOTAL REAL ESTATE						147,072
RETAILING - 0.3%
	4,150,000		AutoNation, Inc		3.350		01/15/21		4,195
	4,425,000		AutoZone, Inc		3.250		04/15/25		4,342
	2,500,000	g	Golden Eagle Retail Group Ltd		4.625		05/21/23		1,922
	8,725,000		Home Depot, Inc		3.350		09/15/25		8,889
	3,150,000		Limited Brands, Inc		7.000		05/01/20		3,556
	8,315,000		O’Reilly Automotive, Inc		4.625		09/15/21		8,985
	4,550,000		O’Reilly Automotive, Inc		3.800		09/01/22		4,661
	2,475,000		QVC, Inc		5.125		07/02/22		2,545
	4,400,000		QVC, Inc		4.375		03/15/23		4,279
	2,725,000		Tiffany & Co		3.800		10/01/24		2,694
			TOTAL RETAILING						46,068
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
	6,910,000		Intel Corp		2.450		07/29/20		7,002
	11,600,000		Intel Corp		3.700		07/29/25		11,918
	6,900,000		Intel Corp		4.900		07/29/45		7,144
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						26,064
SOFTWARE & SERVICES - 0.5%
	3,000,000		Baidu, Inc		3.000		06/30/20		2,980
	11,500,000		Fidelity National Information Services, Inc		5.000		03/15/22		12,019
	6,800,000		Fiserv, Inc		2.700		06/01/20		6,854

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,675,000		Microsoft Corp		3.500	%	02/12/35	$	6,210
	3,075,000		NCR Corp		4.625		02/15/21		2,944
	525,000		NCR Corp		5.875		12/15/21		514
	1,650,000	g	Open Text Corp		5.625		01/15/23		1,637
	16,625,000		Oracle Corp		2.500		05/15/22		16,385
	10,800,000		Oracle Corp		2.950		05/15/25		10,534
	6,600,000		Oracle Corp		4.125		05/15/45		6,231
	900,000	g	Sixsigma Networks Mexico S.A. de C.V.		8.250		11/07/21		845
			TOTAL SOFTWARE & SERVICES						67,153
TECHNOLOGY HARDWARE & EQUIPMENT - 1.3%
	3,475,000		Amphenol Corp		3.125		09/15/21		3,513
	1,975,000		CC Holdings GS V LLC		2.381		12/15/17		1,989
	625,000	g	CommScope, Inc		4.375		06/15/20		620
	1,600,000	g	CommScope, Inc		5.000		06/15/21		1,564
	2,600,000	g	CommScope, Inc		5.500		06/15/24		2,483
	2,962,000		Flextronics International Ltd		4.625		02/15/20		3,051
	38,125,000		General Electric Co		0.850		10/09/15		38,127
	3,300,000		General Electric Co		5.250		12/06/17		3,574
	15,359,000		General Electric Co		2.700		10/09/22		15,403
	4,075,000		General Electric Co		4.125		10/09/42		4,023
	10,100,000		Hewlett-Packard Co		2.750		01/14/19		10,313
	3,625,000		Hewlett-Packard Co		3.750		12/01/20		3,748
	6,225,000	g,h	Hewlett-Packard Enterprise Co		3.600		10/15/20		6,223
	6,800,000	g,h	Hewlett-Packard Enterprise Co		4.900		10/15/25		6,781
	1,840,000	g	International Game Technology		5.625		02/15/20		1,785
	1,610,000	g	International Game Technology		6.250		02/15/22		1,497
	1,610,000	g	International Game Technology		6.500		02/15/25		1,449
	13,825,000	g	Keysight Technologies, Inc		4.550		10/30/24		13,471
	2,000,000		L-3 Communications Corp		4.950		02/15/21		2,122
	1,075,000	g	Millicom International Cellular S.A.		6.000		03/15/25		970
	3,125,000	g	NXP BV		3.750		06/01/18		3,133
	6,650,000		QUALCOMM, Inc		3.450		05/20/25		6,282
	5,000,000		Scientific Games International, Inc		6.250		09/01/20		3,588
	8,000,000		Seagate HDD Cayman		4.750		06/01/23		7,857
	5,625,000		Seagate HDD Cayman		4.750		01/01/25		5,387
	7,450,000	g	Seagate HDD Cayman		4.875		06/01/27		6,933
	525,000	g	Sensata Technologies BV		5.625		11/01/24		524
	5,050,000		Tyco Electronics Group S.A.		2.375		12/17/18		5,103
	6,669,000		Tyco Electronics Group S.A.		3.500		02/03/22		6,840
	1,425,000	g	Zebra Technologies Corp		7.250		10/15/22		1,518
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						169,871
TELECOMMUNICATION SERVICES - 2.0%
	4,600,000	g	Alibaba Group Holding Ltd		2.500		11/28/19		4,514
	4,350,000		American Tower Corp		3.500		01/31/23		4,192
	21,350,000		AT&T, Inc		1.400		12/01/17		21,239
	9,650,000		AT&T, Inc		2.450		06/30/20		9,518
	8,200,000		AT&T, Inc		2.625		12/01/22		7,821
	12,100,000		AT&T, Inc		3.400		05/15/25		11,554
	12,875,000		AT&T, Inc		4.500		05/15/35		11,807
	4,525,000		AT&T, Inc		4.750		05/15/46		4,149
	4,400,000	g	Bharti Airtel International Netherlands BV		5.125		03/11/23		4,640

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,250,000	g	Bharti Airtel Ltd		4.375	%	06/10/25	$	2,245
	5,525,000		British Telecommunications plc		1.625		06/28/16		5,547
	4,000,000	g	Deutsche Telekom International Finance BV		2.250		03/06/17		4,054
	4,000,000		Deutsche Telekom International Finance BV		8.750		06/15/30		5,721
	3,625,000	g	Deutsche Telekom International Finance BV		4.875		03/06/42		3,598
	1,500,000	g	ENTEL Chile S.A.		4.875		10/30/24		1,493
	4,900,000	g	ENTEL Chile S.A.		4.750		08/01/26		4,714
	2,025,000		Intelsat Jackson Holdings S.A.		5.500		08/01/23		1,666
	3,500,000	g	Oi S.A.		5.750		02/10/22		1,627
	3,950,000		Orange S.A.		5.500		02/06/44		4,305
	2,050,000	g	SES		3.600		04/04/23		2,069
	825,000		Sprint Corp		7.250		09/15/21		675
	1,000,000	g	Telecom Italia S.p.A		5.303		05/30/24		977
	11,100,000		Telefonica Emisiones SAU		3.992		02/16/16		11,216
	11,850,000		Telefonica Emisiones SAU		4.570		04/27/23		12,396
	2,325,000		T-Mobile USA, Inc		6.375		03/01/25		2,220
	21,000,000		Verizon Communications, Inc		0.700		11/02/15		21,004
	19,967,000		Verizon Communications, Inc		2.625		02/21/20		20,088
	9,275,000		Verizon Communications, Inc		3.450		03/15/21		9,520
	5,625,000		Verizon Communications, Inc		4.150		03/15/24		5,820
	20,500,000		Verizon Communications, Inc		4.400		11/01/34		19,083
	25,920,000		Verizon Communications, Inc		4.272		01/15/36		23,465
	549,000		Verizon Communications, Inc		6.000		04/01/41		599
	10,550,000		Verizon Communications, Inc		3.850		11/01/42		8,748
	13,623,000		Verizon Communications, Inc		5.012		08/21/54		12,460
	5,321,000		Verizon Communications, Inc		4.672		03/15/55		4,585
	1,250,000	g	VimpelCom Holdings BV		5.950		02/13/23		1,138
			TOTAL TELECOMMUNICATION SERVICES						270,467
TRANSPORTATION - 1.1%
	2,600,000	g	Adani Ports & Special Economic Zone Ltd		3.500		07/29/20		2,580
	6,125,000	g	AP Moeller-Maersk A.S.		2.550		09/22/19		6,165
	5,850,000	g	AP Moeller-Maersk A.S.		3.750		09/22/24		5,913
	5,730,000	g	Asciano Finance Ltd		5.000		04/07/18		6,075
	1,000,000	g	Bombardier, Inc		5.500		09/15/18		865
	1,075,000	g	Bombardier, Inc		4.750		04/15/19		865
	4,500,000		Burlington Northern Santa Fe LLC		4.550		09/01/44		4,416
	9,200,000		Canadian Pacific Railway Co		2.900		02/01/25		8,691
	3,125,000		Canadian Pacific Railway Co		4.800		08/01/45		3,132
	3,000,000		CSX Corp		4.100		03/15/44		2,730
	3,900,000	g	ERAC USA Finance LLC		3.300		10/15/22		3,896
	4,150,000	g	ERAC USA Finance LLC		5.625		03/15/42		4,453
	4,350,000		FedEx Corp		2.300		02/01/20		4,370
	5,400,000		FedEx Corp		3.200		02/01/25		5,241
	4,500,000		FedEx Corp		4.100		02/01/45		4,079
	6,311,000		GATX Corp		1.250		03/04/17		6,278
	7,150,000		GATX Corp		2.500		07/30/19		7,156
	4,425,000		GATX Corp		3.250		03/30/25		4,187
	5,900,000		GATX Corp		5.200		03/15/44		6,060
	6,650,000		GATX Corp		4.500		03/30/45		5,882
	17,344,000		Kansas City Southern de Mexico S.A. de C.V.		2.350		05/15/20		17,045
	9,075,000		Kansas City Southern Railway Co		4.950		08/15/45		9,154
	3,750,000	g	Latam Airlines Group S.A.		7.250		06/09/20		3,319

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	9,950,000		Norfolk Southern Corp		4.450	%	06/15/45	$	9,620
	2,625,000		Northrop Grumman Corp		1.750		06/01/18		2,617
	2,975,000		Southwest Airlines Co		2.750		11/06/19		3,032
	3,500,000	g	TTX Co		3.600		01/15/25		3,539
	4,900,000		United Parcel Service, Inc		3.625		10/01/42		4,666
			TOTAL TRANSPORTATION						146,026
UTILITIES - 3.1%
	1,250,000	i	AES Corp		3.324		06/01/19		1,187
	6,225,000		AES Corp		4.875		05/15/23		5,462
	1,500,000		AES Corp		5.500		03/15/24		1,330
	5,150,000		Alabama Power Co		3.550		12/01/23		5,325
	3,475,000		Alabama Power Co		4.150		08/15/44		3,349
	15,000,000		American Electric Power Co, Inc		1.650		12/15/17		14,954
	6,000,000		American Electric Power Co, Inc		2.950		12/15/22		5,828
	5,850,000		AmeriGas Finance LLC		3.750		05/01/21		5,806
	2,000,000		AmeriGas Finance LLC		7.000		05/20/22		2,050
	3,000,000		AmeriGas Partners LP		6.250		08/20/19		3,030
	5,500,000		Atmos Energy Corp		8.500		03/15/19		6,590
	8,350,000		Atmos Energy Corp		4.125		10/15/44		7,911
	2,500,000	g	Autoridad del Canal de Panama		4.950		07/29/35		2,477
	4,800,000		Berkshire Hathaway Energy Co		3.500		02/01/25		4,829
	6,225,000		Black Hills Corp		4.250		11/30/23		6,560
	4,750,000		Carolina Power & Light Co		5.300		01/15/19		5,291
	2,750,000		Carolina Power & Light Co		5.700		04/01/35		3,273
	3,670,000		CenterPoint Energy Resources Corp		4.500		01/15/21		3,931
	3,550,000		CenterPoint Energy Resources Corp		6.250		02/01/37		4,248
	5,000,000	g	CEZ AS.		4.250		04/03/22		5,262
	2,500,000		CMS Energy Corp		5.050		02/15/18		2,699
	4,200,000		Commonwealth Edison Co		5.900		03/15/36		5,075
	2,750,000		Connecticut Light & Power Co		5.500		02/01/19		3,086
	3,000,000		Connecticut Light & Power Co		4.300		04/15/44		3,079
	9,050,000		Consolidated Edison Co of New York, Inc		3.950		03/01/43		8,585
	3,300,000		Dominion Gas Holdings LLC		3.600		12/15/24		3,287
	5,775,000		Dominion Gas Holdings LLC		4.600		12/15/44		5,499
	1,400,000		Duke Energy Carolinas LLC		4.300		06/15/20		1,538
	1,450,000		Duke Energy Ohio, Inc		3.800		09/01/23		1,536
	4,575,000		Duke Energy Progress, Inc		4.150		12/01/44		4,606
	7,100,000	g,i	Electricite de France		5.625		12/30/49		7,015
	3,000,000	g	Empresa Electrica Angamos S.A.		4.875		05/25/29		2,827
	4,000,000	g	Eskom Holdings SOC Ltd		5.750		01/26/21		3,757
	7,675,000		Exelon Corp		3.950		06/15/25		7,750
	5,525,000		Exelon Corp		5.100		06/15/45		5,646
	2,250,000		Ferrellgas Partners LP		6.500		05/01/21		2,104
	2,750,000		Ferrellgas Partners LP		6.750		01/15/22		2,558
	6,250,000	g	FirstEnergy Transmission LLC		4.350		01/15/25		6,387
	2,000,000		Florida Power Corp		6.400		06/15/38		2,626
	3,000,000		Georgia Power Co		5.400		06/01/40		3,230
	5,000,000		Indiana Michigan Power Co		7.000		03/15/19		5,782
	2,725,000		Integrys Energy Group, Inc		4.170		11/01/20		2,929
	1,350,000	g	Israel Electric Corp Ltd		6.700		02/10/17		1,423
	3,000,000	g	Israel Electric Corp Ltd		5.625		06/21/18		3,184
	1,300,000	g	Israel Electric Corp Ltd		5.000		11/12/24		1,326

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,000,000	g	Kansas Gas & Electric		6.700	%	06/15/19	$	1,164
	625,000	g	KazMunayGas National Co JSC		4.400		04/30/23		525
	3,725,000	g	KazMunayGas National Co JSC		4.875		05/07/25		3,129
	2,825,000		Kinder Morgan, Inc		9.000		02/01/19		3,337
	1,500,000	g	Korea Hydro & Nuclear Power Co Ltd		2.875		10/02/18		1,534
	2,500,000	g	Korea Hydro & Nuclear Power Co Ltd		2.375		10/28/19		2,501
	5,000,000		LG&E and KU Energy LLC		3.750		11/15/20		5,226
	12,500,000		Mercy Health		3.382		11/01/25		12,361
	9,800,000	g	Molex Electronic Technologies LLC		2.878		04/15/20		9,693
	8,250,000	g	Molex Electronic Technologies LLC		3.900		04/15/25		8,043
	3,800,000		MPLX LP		4.000		02/15/25		3,487
	2,800,000		Nevada Power Co		6.500		08/01/18		3,159
	3,335,000		Nevada Power Co		5.450		05/15/41		3,856
	3,500,000		NiSource Finance Corp		4.800		02/15/44		3,622
	3,375,000		Northeast Utilities		1.450		05/01/18		3,348
	2,000,000		NRG Energy, Inc		6.250		05/01/24		1,765
	7,800,000		NSTAR Electric Co		4.400		03/01/44		8,045
	2,500,000		NTPC Ltd		5.625		07/14/21		2,740
	1,000,000		NTPC Ltd		4.750		10/03/22		1,043
	7,100,000		Oncor Electric Delivery Co LLC		2.150		06/01/19		7,081
	1,280,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		1,405
	8,170,000		Oncor Electric Delivery Co LLC		4.550		12/01/41		8,189
	1,325,000	g	Oncor Electric Delivery Co LLC		3.750		04/01/45		1,178
	3,900,000		Pacific Gas & Electric Co		8.250		10/15/18		4,624
	5,850,000		Pacific Gas & Electric Co		4.300		03/15/45		5,805
	4,825,000		Pepco Holdings, Inc		2.700		10/01/15		4,825
	4,500,000	g	Perusahaan Gas Negara Persero Tbk PT		5.125		05/16/24		4,247
	750,000		Potomac Electric Power Co		7.900		12/15/38		1,084
	6,925,000		PPL Capital Funding, Inc		4.200		06/15/22		7,280
	2,000,000		PPL Electric Utilities Corp		3.000		09/15/21		2,057
	3,825,000		Progress Energy, Inc		7.050		03/15/19		4,427
	8,800,000		Public Service Co of Oklahoma		5.150		12/01/19		9,872
	2,640,000		Public Service Electric & Gas Co		5.300		05/01/18		2,896
	2,940,000		QEP Resources, Inc		5.375		10/01/22		2,484
	5,550,000		Sempra Energy		2.875		10/01/22		5,444
	15,000,000		Smith College		4.620		07/01/45		16,009
	2,625,000		Southern California Edison Co		4.650		10/01/43		2,847
	6,600,000		Spectra Energy Partners LP		4.500		03/15/45		5,602
	2,325,000		Tampa Electric Co		4.100		06/15/42		2,288
	3,250,000	g	Transportadora de Gas del Peru S.A.		4.250		04/30/28		3,043
	3,680,000		Virginia Electric and Power Co		2.950		01/15/22		3,713
	1,900,000		WEC Energy Group, Inc		3.550		06/15/25		1,931
	5,075,000		Williams Partners LP		3.600		03/15/22		4,673
	7,250,000		Williams Partners LP		4.500		11/15/23		6,798
	6,000,000		Williams Partners LP		4.900		01/15/45		4,470
	4,125,000		Wisconsin Power & Light Co		4.100		10/15/44		4,044
	14,000,000	g	WPD Investment Holdings Ltd		3.900		05/01/16		14,183
	2,890,000		Xcel Energy, Inc		4.800		09/15/41		2,988
			TOTAL UTILITIES						420,292
			TOTAL CORPORATE BONDS						4,829,605
			(Cost $4,843,538)

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
GOVERNMENT BONDS -  47.1%
AGENCY SECURITIES - 1.9%
$	13,728,444		AMAL Ltd		3.465	%	08/21/21	$	14,510
	5,793,687		Export Lease Ten Co LLC		1.650		05/07/25		5,685
	5,000,000		International Bank for Reconstruction & Development		0.500		04/15/16		5,006
	19,285,000		Lutheran Medical Center		1.982		02/20/30		18,781
	182,802		National Credit Union Administration		1.840		10/07/20		183
	13,636,502		Premier Aircraft Leasing		3.576		02/06/22		14,480
	15,000,000		Private Export Funding Corp (PEFCO)		2.125		07/15/16		15,182
	34,000,000		PEFCO		1.375		02/15/17		34,324
	17,000,000		PEFCO		5.450		09/15/17		18,498
	10,000,000		PEFCO		2.250		12/15/17		10,270
	5,000,000		PEFCO		4.375		03/15/19		5,471
	7,240,000		PEFCO		1.450		08/15/19		7,181
	27,750,000		PEFCO		2.250		03/15/20		28,300
	35,000,000		PEFCO		4.300		12/15/21		39,208
	30,000,000		PEFCO		2.050		11/15/22		29,247
	1,891,406		Totem Ocean Trailer Express, Inc		4.514		12/18/19		2,000
	9,000,000		Ukraine Government AID Bonds		1.844		05/16/19		9,102
	13,545,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		14,078
	3,000,000		US Department of Housing and Urban Development (HUD)		5.380		08/01/18		3,131
			TOTAL AGENCY SECURITIES						274,637
FOREIGN GOVERNMENT BONDS - 4.9%
	2,250,000	g	Banque Centrale de Tunisie S.A.		5.750		01/30/25		2,143
	3,800,000	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		3,002
BRL	5,750,000		Brazil Notas do Tesouro Nacional Serie F		10.000		01/01/21		1,180
$	1,210,000		Brazilian Government International Bond		5.875		01/15/19		1,267
	5,250,000		Brazilian Government International Bond		4.250		01/07/25		4,594
	825,000		Brazilian Government International Bond		7.125		01/20/37		771
	2,000,000		Brazilian Government International Bond		5.625		01/07/41		1,620
	2,935,000		Brazilian Government International Bond		5.000		01/27/45		2,194
	5,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		5,094
	1,850,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		07/28/20		1,870
	4,000,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		02/12/22		3,979
	25,275,000		Canada Government International Bond		0.875		02/14/17		25,368
	5,410,000		Colombia Government International Bond		4.375		07/12/21		5,510
	1,775,000		Colombia Government International Bond		2.625		03/15/23		1,578
COP	1,666,000,000		Colombia Government International Bond		4.375		03/21/23		442
$	5,800,000		Colombia Government International Bond		4.000		02/26/24		5,620
	3,000,000		Colombia Government International Bond		4.500		01/28/26		2,917
	1,500,000		Colombia Government International Bond		6.125		01/18/41		1,485
	1,975,000		Colombia Government International Bond		5.625		02/26/44		1,842
	3,500,000	g	Costa Rica Government International Bond		7.158		03/12/45		3,071
	5,100,000	g	Croatia Government International Bond		6.375		03/24/21		5,484
	2,325,000	g	Croatia Government International Bond		5.500		04/04/23		2,383
DOP	63,500,000	g	Dominican Republic International Bond		10.000		01/05/17		1,415
$	3,250,000	g	Dominican Republic International Bond		5.500		01/27/25		3,136
	4,200,000	g	Ecuador Government International Bond		10.500		03/24/20		3,150
	3,275,000	g	Egypt Government International Bond		5.875		06/11/25		3,095
	1,100,000	g	El Salvador Government International Bond		7.650		06/15/35		980
	10,000,000		European Investment Bank		2.500		04/15/21		10,427

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,500,000		European Investment Bank		4.875	%	02/15/36	$	4,406
	3,825,000		Export-Import Bank of Korea		1.250		11/20/15		3,827
	3,800,000		Export-Import Bank of Korea		2.250		01/21/20		3,792
	3,000,000		Federative Republic of Brazil		6.000		01/17/17		3,117
	2,550,000	g	Gabonese Republic		6.950		06/16/25		2,142
	3,800,000		Hungary Government International Bond		5.750		11/22/23		4,227
	40,200,000		Hydro Quebec		1.375		06/19/17		40,542
	400,000	g	Indonesia Government International Bond		4.125		01/15/25		371
	5,310,000		Italy Government International Bond		6.875		09/27/23		6,738
	1,900,000	g,i	Ivory Coast Government International Bond		5.750		12/31/32		1,645
	4,000,000		Jamaica Government International Bond		7.875		07/28/45		4,000
	5,000,000	g	Kazakhstan Government International Bond		3.875		10/14/24		4,500
	2,000,000	g	Kazakhstan Government International Bond		6.500		07/21/45		1,878
	18,750,000		KFW		2.625		01/25/22		19,657
	4,500,000	g	Kommunalbanken AS.		1.375		06/08/17		4,542
	5,800,000	g,i	Kommunalbanken AS.		0.513		02/20/18		5,817
	7,700,000	g	Kommunalbanken AS.		1.625		01/15/20		7,704
	2,600,000	g	Kommunalbanken AS.		2.125		02/11/25		2,545
	5,000,000	g	Kommuninvest I Sverige AB		2.000		11/12/19		5,106
	2,400,000		Korea Development Bank		1.500		01/22/18		2,382
	2,600,000		Korea Development Bank		2.500		03/11/20		2,627
	6,000,000	g	Korea Housing Finance Corp		1.625		09/15/18		5,917
	5,000,000		Landwirtschaftliche Rentenbank		5.125		02/01/17		5,294
	6,682,000		Landwirtschaftliche Rentenbank		2.000		01/13/25		6,547
	5,250,000	g	Lithuania Government International Bond		6.625		02/01/22		6,342
MXN	50,000,000		Mexican Bonos		7.750		12/14/17		3,180
$	1,000,000		Mexico Government International Bond		5.625		01/15/17		1,060
	7,250,000		Mexico Government International Bond		4.000		10/02/23		7,384
	2,500,000		Mexico Government International Bond		3.600		01/30/25		2,456
	1,000,000	g	Municipality Finance plc		1.750		05/21/19		1,014
NGN	485,000,000		Nigeria Government Bond		15.100		04/27/17		2,439
$	3,995,000	g	Nigeria Government International Bond		6.375		07/12/23		3,533
	43,950,000		North American Development Bank		2.400		10/26/22		43,540
	2,500,000	g	Pakistan Government International Bond		8.250		09/30/25		2,550
	1,175,000		Panama Government International Bond		5.200		01/30/20		1,268
	3,000,000		Panama Government International Bond		4.000		09/22/24		2,959
	3,500,000		Panama Government International Bond		3.750		03/16/25		3,386
	1,000,000		Peruvian Government International Bond		7.125		03/30/19		1,155
	1,250,000		Peruvian Government International Bond		6.550		03/14/37		1,434
	4,175,000		Philippine Government International Bond		4.200		01/21/24		4,577
	2,500,000		Philippine Government International Bond		5.000		01/13/37		2,871
	2,980,000		Philippine Government International Bond		3.950		01/20/40		3,013
	8,017,000		Poland Government International Bond		5.125		04/21/21		9,028
	1,000,000		Poland Government International Bond		4.000		01/22/24		1,058
	25,000,000	g	Province of Alberta Canada		1.000		06/21/17		25,068
	21,000,000		Province of British Columbia Canada		1.200		04/25/17		21,141
	15,000,000		Province of British Columbia Canada		2.000		10/23/22		14,946
	20,750,000		Province of Manitoba Canada		1.750		05/30/19		20,883
	10,000,000		Province of Manitoba Canada		3.050		05/14/24		10,357
	20,000,000		Province of New Brunswick Canada		2.750		06/15/18		20,794
	24,000,000		Province of Ontario Canada		2.300		05/10/16		24,258
	2,250,000		Province of Quebec Canada		5.125		11/14/16		2,361
	8,835,000		Province of Quebec Canada		4.625		05/14/18		9,617

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	22,500,000		Province of Quebec Canada		3.500	%	07/29/20	$	24,263
	10,000,000		Province of Quebec Canada		2.750		08/25/21		10,346
	6,000,000		Province of Quebec Canada		7.500		09/15/29		8,891
	5,170,000		Republic of Angola Via Northern Lights III BV		7.000		08/16/19		4,878
	2,675,000	g	Republic of Azerbaijan International Bond		4.750		03/18/24		2,501
	3,485,000	g	Republic of Paraguay		6.100		08/11/44		3,407
	1,150,000	g	Republic of Serbia		5.875		12/03/18		1,200
	1,200,000	g	Republic of Serbia		7.250		09/28/21		1,344
	1,304,515	i	Republic of Serbia		6.750		11/01/24		1,329
	4,500,000		Republic of Turkey		7.500		07/14/17		4,854
	1,650,000		Republic of Turkey		6.000		01/14/41		1,607
	1,500,000	g	Republic of Zambia		5.375		09/20/22		1,063
	3,500,000	g	Russian Foreign Bond - Eurobond		4.875		09/16/23		3,529
	3,985,000	g	Slovenia Government International Bond		5.500		10/26/22		4,475
	1,300,000	g	Socialist Republic of Vietnam		6.750		01/29/20		1,414
ZAR	121,524,000		South Africa Government Bond		8.250		09/15/17		8,925
$	1,002,000		South Africa Government International Bond		6.875		05/27/19		1,117
	3,500,000		South Africa Government International Bond		5.500		03/09/20		3,720
	2,875,000		South Africa Government International Bond		5.875		09/16/25		3,062
	2,375,000		South Africa Government International Bond		5.375		07/24/44		2,212
	4,000,000		Svensk Exportkredit AB		1.125		04/05/18		4,004
	4,000,000		Svensk Exportkredit AB		1.750		08/28/20		4,005
	12,000,000		Turkey Government International Bond		6.750		04/03/18		12,950
	4,000,000		Turkey Government International Bond		3.250		03/23/23		3,559
	7,050,000		Turkey Government International Bond		5.750		03/22/24		7,307
	2,000,000		Turkey Government International Bond		6.875		03/17/36		2,163
	4,000,000		United Mexican States		5.950		03/19/19		4,486
	1,925,000		Uruguay Government International Bond		4.500		08/14/24		1,944
	3,750,000		Uruguay Government International Bond		5.100		06/18/50		3,291
	4,715,000	g	Vietnam Government International Bond		4.800		11/19/24		4,457
	2,000,000	g	Zambia Government International Bond		8.970		07/30/27		1,580
			TOTAL FOREIGN GOVERNMENT BONDS						652,495
MORTGAGE BACKED - 23.0%
	7,904,637		Federal Home Loan Mortgage Corp (FHLMC)		3.500		08/15/34		8,326
	10,591,361	i	FHLMC		0.817		07/15/37		10,766
	12,972,094	i	FHLMC		0.657		09/15/42		13,093
	30,172,263		FHLMC		3.000		09/15/42		30,567
	5,935,386	i	FHLMC		0.557		10/15/42		5,953
	17,765,722	i	FHLMC		0.557		07/15/45		17,820
	63,932		Federal Home Loan Mortgage Corp Gold (FGLMC)		6.500		12/01/16		65
	84,739		FGLMC		7.000		10/01/20		90
	16,548		FGLMC		7.000		05/01/23		18
	214,481		FGLMC		6.000		10/01/23		241
	149,559		FGLMC		6.000		11/01/23		168
	49,000,000	h	FGLMC		3.500		10/15/30		51,674
	56,000,000	h	FGLMC		3.000		11/15/30		58,166
	38,284		FGLMC		8.000		01/01/31		44
	78,905		FGLMC		7.000		12/01/31		82
	5,920		FGLMC		7.000		01/01/32		6
	53,999		FGLMC		8.000		02/01/32		55
	1,219,595		FGLMC		4.500		07/01/33		1,326
	1,580,341		FGLMC		5.500		12/01/33		1,787

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,668,803		FGLMC		5.500	%	12/01/33	$	2,976
	7,467,966		FGLMC		7.000		12/01/33		8,860
	9,238,288		FGLMC		5.000		01/01/34		10,295
	3,245,591		FGLMC		4.500		10/01/34		3,512
	1,610,193		FGLMC		4.500		04/01/35		1,750
	2,647,051		FGLMC		7.000		05/01/35		3,143
	536,778		FGLMC		5.000		02/01/36		591
	11,556		FGLMC		6.500		05/01/36		13
	3,167,219		FGLMC		5.000		04/01/38		3,512
	2,575,307		FGLMC		5.000		07/01/39		2,827
	13,473,353		FGLMC		4.500		11/01/40		14,928
	15,136,948		FGLMC		4.500		12/01/40		16,718
	13,716,300		FGLMC		3.500		04/01/44		14,417
	23,297,981		FGLMC		4.000		08/01/44		25,199
	16,864,143		FGLMC		4.000		09/01/44		18,271
	5,761,182		FGLMC		4.500		10/01/44		6,414
	3,201,167		FGLMC		4.500		11/01/44		3,564
	2,511,709		FGLMC		4.500		11/01/44		2,797
	1,999,862		FGLMC		4.500		12/01/44		2,227
	1,294,284		FGLMC		4.500		12/01/44		1,420
	11,976,050		FGLMC		3.500		04/01/45		12,557
	30,741,736		FGLMC		3.500		07/01/45		32,090
	48,252,557		FGLMC		3.500		09/01/45		50,283
	31,175,000	h	FGLMC		3.500		10/01/45		32,649
	30,000,000	h	FGLMC		3.000		10/15/45		30,329
	107,000,000	h	FGLMC		4.000		10/15/45		113,922
	459		Federal National Mortgage Association (FNMA)		6.500		04/01/16		1
	42,167		FNMA		8.000		03/01/23		44
	115,497		FNMA		8.000		07/01/24		138
	23,408		FNMA		9.000		11/01/25		27
	4,507,516	h	FNMA		3.000		01/01/30		4,701
	6,009,046	h	FNMA		3.000		06/01/30		6,268
	10,033,118	h	FNMA		3.000		07/01/30		10,466
	21,320,579		FNMA		2.500		08/01/30		21,764
	59,000,000	h	FNMA		2.500		10/25/30		60,166
	27,000,000	h	FNMA		3.000		10/25/30		28,120
	4,000,000	h	FNMA		3.500		10/25/30		4,226
	51,000,000	h	FNMA		2.500		11/25/30		51,922
	1,400,840		FNMA		6.500		07/01/32		1,625
	166,568		FNMA		7.000		07/01/32		180
	126,560		FNMA		7.000		07/01/32		142
	439,205		FNMA		4.500		03/25/33		448
	10,530,915		FNMA		5.000		06/01/33		11,660
	1,281,134		FNMA		4.500		10/01/33		1,400
	24,316,682		FNMA		5.000		10/01/33		26,923
	9,000,000		FNMA		3.000		10/25/33		9,116
	136,813		FNMA		5.000		11/01/33		152
	2,675,551		FNMA		5.000		11/01/33		3,007
	10,039,873		FNMA		5.500		03/01/34		11,312
	48,543,508		FNMA		3.000		01/01/35		50,374
	9,193,456		FNMA		5.500		02/01/35		10,346
	2,260,632		FNMA		4.500		05/01/35		2,472
	14,998,768		FNMA		5.000		05/01/35		16,554

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,712,381		FNMA		5.000	%	10/01/35	$	7,396
	54,786		FNMA		6.500		03/01/37		65
	3,372,179		FNMA		5.500		08/01/37		3,793
	1,514,810		FNMA		6.000		09/01/37		1,738
	1,491,942		FNMA		6.000		09/01/37		1,717
	1,253,549		FNMA		6.500		09/01/37		1,432
	1,808,293		FNMA		5.500		01/01/38		2,037
	68,983		FNMA		6.500		02/01/38		79
	9,319,959		FNMA		5.500		11/01/38		10,866
	7,191,645		FNMA		5.500		12/01/38		8,167
	175,627		FNMA		4.500		04/01/39		194
	744,046		FNMA		4.000		07/01/39		803
	5,445,395		FNMA		5.500		08/01/39		6,168
	3,740,823		FNMA		4.500		10/01/39		4,064
	354,444		FNMA		4.500		02/01/40		388
	4,120,210		FNMA		4.500		06/01/40		4,481
	2,185,222		FNMA		5.000		08/01/40		2,414
	12,665,817		FNMA		5.000		09/01/40		13,974
	3,268,424		FNMA		4.500		10/01/40		3,552
	896,021		FNMA		6.000		10/01/40		1,013
	748,723		FNMA		4.500		11/01/40		821
	9,821,038		FNMA		4.500		11/01/40		10,656
	4,897,215		FNMA		4.500		11/01/40		5,323
	1,404,683		FNMA		4.500		01/01/41		1,548
	1,160,886		FNMA		4.500		02/01/41		1,273
	16,698,815		FNMA		5.000		05/01/41		18,451
	1,207,056		FNMA		4.500		06/01/41		1,331
	1,312,874		FNMA		4.500		06/01/41		1,439
	998,242		FNMA		5.000		06/01/41		1,106
	1,344,385		FNMA		5.000		08/01/41		1,482
	16,303,889		FNMA		3.000		08/25/41		16,873
	524,581		FNMA		4.500		09/01/41		570
	6,091,695	h	FNMA		4.500		11/01/41		6,627
	1,701,295		FNMA		4.500		12/01/41		1,865
	31,365,699		FNMA		5.500		12/01/41		35,860
	1,328,922		FNMA		4.500		01/01/42		1,457
	7,526,100		FNMA		3.500		02/01/42		7,873
	1,512,271		FNMA		4.500		03/01/42		1,667
	1,360,964		FNMA		4.500		04/01/42		1,492
	1,035,414		FNMA		4.500		04/01/42		1,126
	11,916,197		FNMA		4.500		04/01/42		12,958
	1,589,818		FNMA		4.500		06/01/42		1,744
	1,236,029		FNMA		4.500		07/01/42		1,363
	15,189,318	i	FNMA		0.694		08/25/42		15,307
	22,583,930		FNMA		3.000		10/01/42		22,992
	253,674		FNMA		3.000		10/01/42		258
	248,485		FNMA		3.000		10/01/42		253
	641,544		FNMA		3.000		11/01/42		653
	13,998,810	i	FNMA		0.594		11/25/42		14,001
	33,174,340		FNMA		3.500		11/25/42		6,214
	839,135		FNMA		3.000		12/01/42		854
	313,521		FNMA		3.000		12/01/42		318
	25,279,684		FNMA		3.000		01/01/43		25,714

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	11,393,520		FNMA		3.000	%	01/01/43	$	11,587
	32,163,865		FNMA		3.000		02/01/43		32,719
	5,500,933		FNMA		3.000		02/01/43		5,596
	847,251		FNMA		3.000		02/01/43		862
	15,235,408		FNMA		3.000		02/01/43		15,499
	1,647,826		FNMA		3.000		02/01/43		1,676
	721,088		FNMA		3.000		02/01/43		733
	149,998		FNMA		3.000		02/01/43		153
	3,410,674		FNMA		3.000		03/01/43		3,462
	147,816		FNMA		3.000		03/01/43		150
	4,479,574		FNMA		3.000		03/01/43		4,556
	284,202		FNMA		3.000		03/01/43		289
	3,554,522		FNMA		3.000		03/01/43		3,615
	752,285		FNMA		3.000		03/01/43		764
	3,905,581		FNMA		3.000		03/01/43		3,973
	869,392		FNMA		3.000		03/01/43		884
	1,065,150		FNMA		3.000		03/01/43		1,083
	2,058,758		FNMA		3.000		03/01/43		2,090
	1,150,859		FNMA		3.000		03/01/43		1,171
	9,221,059	i	FNMA		0.544		03/25/43		9,213
	1,319,451		FNMA		3.000		04/01/43		1,342
	64,632		FNMA		3.000		04/01/43		66
	178,212		FNMA		3.000		04/01/43		181
	1,519,509		FNMA		3.000		04/01/43		1,545
	1,305,155		FNMA		3.000		04/01/43		1,327
	2,007,620		FNMA		3.000		04/01/43		2,042
	748,180		FNMA		3.000		04/01/43		762
	16,416		FNMA		3.000		04/01/43		17
	958,142		FNMA		3.000		04/01/43		975
	246,477		FNMA		3.000		04/01/43		251
	1,809,281		FNMA		3.000		05/01/43		1,840
	5,431,678		FNMA		3.000		05/01/43		5,513
	21,136,951		FNMA		4.000		11/01/43		22,943
	10,593,109		FNMA		4.000		04/01/44		11,433
	6,192,664		FNMA		4.000		06/01/44		6,683
	3,365,606		FNMA		4.000		06/01/44		3,631
	10,182,556		FNMA		4.500		06/01/44		11,286
	3,383,864		FNMA		4.000		07/01/44		3,651
	1,812,418		FNMA		4.000		07/01/44		1,956
	6,115,541		FNMA		4.000		08/01/44		6,598
	14,808,325		FNMA		4.000		08/01/44		15,978
	2,323,810		FNMA		4.000		08/01/44		2,508
	6,347,234		FNMA		4.000		08/01/44		6,848
	1,616,218		FNMA		4.000		09/01/44		1,744
	1,177,075		FNMA		4.000		09/01/44		1,270
	7,477,177		FNMA		4.000		10/01/44		8,065
	9,862,464		FNMA		4.500		10/01/44		10,933
	8,220,248	h	FNMA		3.500		11/01/44		8,600
	18,693,426		FNMA		4.500		11/01/44		20,718
	5,436,157		FNMA		4.000		12/01/44		5,887
	15,361,757		FNMA		4.000		12/01/44		16,577
	6,788,146		FNMA		4.000		12/01/44		7,346
	5,291,633		FNMA		4.500		12/01/44		5,866

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	5,585,516		FNMA		4.000	%	01/01/45	$	6,027
	56,737,744		FNMA		4.000		01/01/45		61,612
	13,706,157		FNMA		3.500		02/01/45		14,340
	702,242		FNMA		3.500		03/01/45		737
	1,173,802		FNMA		3.500		03/01/45		1,226
	2,545,242		FNMA		4.500		03/01/45		2,822
	2,735,110		FNMA		4.000		05/01/45		2,952
	6,104,014		FNMA		4.000		06/01/45		6,587
	48,000,000	h	FNMA		3.000		10/25/45		48,671
	94,000,000	h	FNMA		3.500		10/25/45		98,091
	48,000,000	h	FNMA		4.500		10/25/45		52,042
	11,000,000	h	FNMA		5.000		10/25/45		12,122
	56,000,000	h	FNMA		3.000		11/25/45		56,664
	103,000,000	h	FNMA		3.500		11/25/45		107,253
	100,000,000	h	FNMA		4.000		11/25/45		106,492
	64,000,000	h	FNMA		4.500		11/25/45		69,332
	159,000,000	h	FNMA		3.500		12/25/45		165,205
	22,000,000	h	FNMA		5.000		12/25/45		24,206
	258		Government National Mortgage Association (GNMA)		9.000		06/15/16		0	^
	380		GNMA		9.000		09/15/16		0	^
	952		GNMA		9.000		09/15/16		1
	3,101		GNMA		9.000		11/15/16		3
	2,163		GNMA		9.000		12/15/16		2
	880		GNMA		9.000		12/15/16		1
	6,340		GNMA		9.500		12/15/16		7
	10,951		GNMA		8.000		06/15/24		12
	28,386		GNMA		8.500		11/20/30		34
	43,570		GNMA		8.500		12/20/30		53
	832,081		GNMA		5.500		07/15/33		951
	16,085,120		GNMA		3.700		10/15/33		17,375
	511,296		GNMA		5.500		11/20/33		577
	1,773,218		GNMA		5.500		03/20/35		2,000
	901,353		GNMA		5.500		12/20/35		1,016
	507,738		GNMA		6.000		10/20/36		575
	536,025		GNMA		6.000		01/20/37		608
	1,557,461		GNMA		6.000		02/20/37		1,765
	1,146,801		GNMA		5.000		04/15/38		1,271
	1,125,182		GNMA		5.500		07/15/38		1,262
	1,796,518		GNMA		5.500		07/20/38		2,001
	620,340		GNMA		6.000		08/20/38		697
	1,091,099		GNMA		6.500		11/20/38		1,282
	963,218		GNMA		2.176		05/16/39		976
	2,143,485		GNMA		5.000		06/15/39		2,379
	3,175,887		GNMA		5.000		06/15/39		3,569
	1,613,306		GNMA		5.000		07/20/39		1,794
	11,796,359		GNMA		4.500		09/20/39		13,079
	12,286,057		GNMA		3.700		08/15/40		13,414
	44,302,936		GNMA		3.500		10/20/42		9,322
	9,643,436		GNMA		3.500		07/15/43		10,151
	3,115,174		GNMA		3.500		02/15/45		3,280
	8,578,228	h	GNMA		4.000		04/15/45		9,172
	12,823,096	h	GNMA		4.000		04/15/45		13,730
	10,850,684	h	GNMA		4.000		04/15/45		11,600

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	29,790,671	h	GNMA		4.000	%	05/15/45	$	31,851
	56,000,000	h	GNMA		3.000		10/20/45		57,175
	115,000,000	h	GNMA		3.500		10/20/45		120,256
	40,000,000	h	GNMA		3.500		10/20/45		41,920
	101,000,000	h	GNMA		4.000		10/20/45		107,975
	113,000,000		GNMA		4.000		10/24/45		120,539
	48,000,000	h	GNMA		3.500		11/20/45		50,194
	61,000,000	h	GNMA		3.000		12/20/45		62,022
			TOTAL MORTGAGE BACKED						3,093,604
MUNICIPAL BONDS - 2.9%
	9,685,000		Arizona School Facilities Board		0.945		09/01/16		9,684
	3,270,000		California Earthquake Authority		1.194		07/01/16		3,278
	3,600,000		California Earthquake Authority		1.824		07/01/17		3,622
	2,025,000		City of San Antonio TX Customer Facility Charge Revenue		4.253		07/01/24		2,082
	1,575,000		City of San Antonio TX Customer Facility Charge Revenue		4.353		07/01/25		1,621
	10,750,000		Florida Hurricane Catastrophe Fund Finance Corp		1.298		07/01/16		10,802
	3,500,000		Maine Municipal Bond Bank		1.708		06/01/16		3,528
	2,000,000		Permanent University Fund		1.439		07/01/17		2,008
	2,625,000		Permanent University Fund		1.730		07/01/18		2,657
	4,720,000		Permanent University Fund		1.880		07/01/19		4,739
	2,320,000		Permanent University Fund		2.258		07/01/20		2,344
	2,160,000		Permanent University Fund		2.408		07/01/21		2,197
	2,750,000		Permanent University Fund		2.508		07/01/22		2,799
	2,855,000		Permanent University Fund		2.608		07/01/23		2,910
	3,250,000		Permanent University Fund		2.708		07/01/24		3,290
	2,335,000		Permanent University Fund		2.808		07/01/25		2,361
	3,775,000		Permanent University Fund		2.908		07/01/26		3,810
	4,000,000		Permanent University Fund		3.008		07/01/27		3,993
	2,000,000		Port of Corpus Christi Authority of Nueces County		3.138		12/01/22		2,035
	1,700,000		Port of Corpus Christi Authority of Nueces County		3.287		12/01/23		1,735
	1,500,000		Port of Corpus Christi Authority of Nueces County		3.387		12/01/24		1,542
	1,000,000		Port of Corpus Christi Authority of Nueces County		3.487		12/01/25		1,031
	11,370,000		State of California		5.950		04/01/16		11,672
	2,915,000		State of Georgia		1.750		07/01/19		2,948
	3,060,000		State of Georgia		2.000		07/01/20		3,101
	3,215,000		State of Georgia		2.150		07/01/21		3,258
	3,905,000		State of Georgia		2.750		07/01/25		3,912
	4,100,000		State of Georgia		2.850		07/01/26		4,075
	4,305,000		State of Georgia		2.950		07/01/27		4,261
	4,520,000		State of Georgia		3.050		07/01/28		4,473
	3,245,000		State of Georgia		3.150		07/01/29		3,128
	12,500,000		State of Illinois		0.750		06/15/16		12,511
	19,760,000		State of Illinois		4.833		02/01/17		20,365
	12,500,000		State of Illinois		1.750		06/15/17		12,607
	8,000,000		State of Illinois		4.350		06/01/18		8,187
	7,500,000		State of Illinois		2.000		06/15/18		7,620
	7,500,000		State of Illinois		2.000		06/15/19		7,518
	7,160,000		State of Illinois		5.463		02/01/20		7,675
	12,500,000		State of Illinois		1.930		06/15/20		12,313
	12,500,000		State of Illinois		2.250		06/15/21		12,341
	10,000,000		State of Illinois		4.310		04/01/23		9,757
	11,535,000		State of Illinois		4.610		04/01/25		11,204

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	9,350,000	State of Illinois		4.760	%	04/01/26	$	8,972
	12,500,000	State of Illinois		3.150		06/15/26		12,127
	13,880,000	State of Illinois		4.910		04/01/27		12,838
	12,500,000	State of Illinois		3.250		06/15/27		11,997
	8,115,000	State of Illinois		5.010		04/01/28		7,367
	21,640,000	State of Michigan		3.600		05/15/31		21,112
	22,455,000	State of Michigan		3.700		05/15/32		22,048
	10,515,000	University of California		1.296		05/15/18		10,546
	4,500,000	University of California		2.300		05/15/21		4,557
	6,000,000	University of California		2.570		05/15/22		6,119
	14,800,000	University of California		3.931		05/15/45		14,218
	20,000,000	University of New Mexico		3.532		06/20/32		19,958
		TOTAL MUNICIPAL BONDS						388,853
U.S. TREASURY SECURITIES - 14.4%
	22,000,000	United States Treasury Bond		6.375		08/15/27		31,712
	15,185,000	United States Treasury Bond		5.250		11/15/28		20,333
	49,175,000	United States Treasury Bond		5.250		02/15/29		66,051
	100,686,000	United States Treasury Bond		5.375		02/15/31		139,799
	65,602,000	United States Treasury Bond		4.500		02/15/36		86,043
	4,500,000	United States Treasury Bond		4.750		02/15/37		6,104
	12,000,000	United States Treasury Bond		3.500		02/15/39		13,541
	19,135,000	United States Treasury Bond		4.375		05/15/41		24,678
	16,434,000	United States Treasury Bond		3.750		08/15/41		19,298
	56,375,000	United States Treasury Bond		3.625		08/15/43		64,916
	31,730,000	United States Treasury Bond		3.000		05/15/45		32,495
	78,000,000	United States Treasury Bond		2.875		08/15/45		78,008
	18,485,000	United States Treasury Note		1.250		10/31/15		18,502
	17,747,000	United States Treasury Note		0.375		11/15/15		17,752
	5,900,000	United States Treasury Note		0.250		12/31/15		5,902
	3,300,000	United States Treasury Note		0.375		03/15/16		3,303
	23,000,000	United States Treasury Note		0.375		03/31/16		23,023
	9,800,000	United States Treasury Note		2.375		03/31/16		9,906
	44,410,000	United States Treasury Note		0.375		04/30/16		44,450
	6,000,000	United States Treasury Note		0.500		07/31/16		6,008
	10,000,000	United States Treasury Note		3.125		10/31/16		10,290
	4,675,000	United States Treasury Note		0.750		01/15/17		4,692
	3,900,000	United States Treasury Note		0.625		02/15/17		3,908
	25,000,000	United States Treasury Note		0.625		05/31/17		25,019
	99,210,000	United States Treasury Note		0.625		07/31/17		99,253
	31,500,000	United States Treasury Note		0.625		08/31/17		31,499
	222,865,000	United States Treasury Note		0.875		07/15/18		222,882
	12,100,000	United States Treasury Note		2.250		07/31/18		12,562
	28,000,000	United States Treasury Note		1.000		08/15/18		28,075
	30,850,000	United States Treasury Note		1.000		09/15/18		30,923
	9,966,900	United States Treasury Note		1.375		09/30/18		10,097
	10,365,000	United States Treasury Note		1.750		10/31/18		10,615
	145,487,000	United States Treasury Note		1.625		07/31/20		147,287
	58,910,000	United States Treasury Note		1.375		09/30/20		58,901
	825,000	United States Treasury Note		2.125		01/31/21		852
	12,720,000	United States Treasury Note		2.000		02/28/21		13,041
	3,240,000	United States Treasury Note		2.250		04/30/21		3,363
	16,465,000	United States Treasury Note		2.000		05/31/21		16,861

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,730,000		United States Treasury Note		2.125	%	06/30/21	$	1,783
	11,825,000		United States Treasury Note		2.000		08/31/21		12,089
	133,872,000		United States Treasury Note		8.000		11/15/21		183,762
	73,000,000		United States Treasury Note		1.750		02/28/22		73,268
	1,710,000		United States Treasury Note		1.750		03/31/22		1,715
	8,000,000		United States Treasury Note		1.750		04/30/22		8,018
	4,565,000		United States Treasury Note		2.125		06/30/22		4,685
	63,000,000		United States Treasury Note		2.000		07/31/22		64,089
	106,110,000		United States Treasury Note		1.875		08/31/22		107,028
	36,695,000		United States Treasury Note		2.000		08/15/25		36,518
			TOTAL U.S. TREASURY SECURITIES						1,934,899
			TOTAL GOVERNMENT BONDS						6,344,488
			(Cost $6,240,002)
STRUCTURED ASSETS - 14.6%
ASSET BACKED - 7.1%
	977,291	i	ACE Securities Corp Home Equity Loan Trust		0.929		08/25/35		964
			Series - 2005 HE5 (Class M2)
	13,000,000		AEP Texas Central Transition Funding LLC		1.976		06/01/21		13,189
			Series - 2012 1 (Class A2)
	17,823,000		AmeriCredit Automobile Receivables Trust		1.570		01/08/19		17,855
			Series - 2013 1 (Class C)
	6,045,000		AmeriCredit Automobile Receivables Trust		1.790		03/08/19		6,072
			Series - 2013 2 (Class C)
	18,920,000		AmeriCredit Automobile Receivables Trust		2.420		05/08/19		19,079
			Series - 2013 2 (Class D)
	1,000,000		AmeriCredit Automobile Receivables Trust		1.270		07/08/19		999
			Series - 2014 4 (Class A3)
	6,675,000		AmeriCredit Automobile Receivables Trust		2.720		09/09/19		6,768
			Series - 2013 4 (Class C)
	15,037,000	g	AmeriCredit Automobile Receivables Trust		4.460		11/08/19		15,398
			Series - 2012 3 (Class E)
	13,805,000		AmeriCredit Automobile Receivables Trust		3.340		08/08/21		13,983
			Series - 2015 3 (Class D)
	74,236	g	Asset Backed Funding Corp NIM Trust		5.900		07/26/35		0^
			Series - 2006 WMC1 (Class N1)
	4,965,278	i	Asset-Backed Pass-Through Certificates		1.036		01/25/35		4,743
			Series - 2004 R12 (Class M1)
	2,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.410		11/20/17		2,045
			Series - 2011 3A (Class A)
	5,500,000	g	Avis Budget Rental Car Funding AESOP LLC		4.740		11/20/17		5,656
			Series - 2011 3A (Class B)
	9,400,000	g	Avis Budget Rental Car Funding AESOP LLC		3.780		02/20/18		9,502
			Series - 2011 5A (Class C)
	11,125,000	g	Avis Budget Rental Car Funding AESOP LLC		4.720		02/20/18		11,510
			Series - 2011 5A (Class B)
	4,890,000	g	Avis Budget Rental Car Funding AESOP LLC		3.887		05/20/18		5,041
			Series - 2012 2A (Class B)
	703,142	i	Bear Stearns Asset Backed Securities Trust		0.934		11/25/39		700
			Series - 2005 SD3 (Class 2A1)

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,900,000		Capital Auto Receivables Asset Trust		1.290	%	04/20/18	$	2,900
			Series - 2013 1 (Class B)
	14,831,000		Capital Auto Receivables Asset Trust		1.740		10/22/18		14,889
			Series - 2013 1 (Class C)
	11,525,000		Capital Auto Receivables Asset Trust		2.190		09/20/21		11,574
			Series - 0 1 (Class D)
	8,000,000	g	Capital Automotive REIT		3.660		10/15/44		8,137
			Series - 2014 1A (Class A)
	8,209,197	i,m	CCR, Inc		0.648		07/10/17		8,087
			Series - 2010 CX (Class C)
	922,725	i	Chase Funding Mortgage Loan Asset-Backed Certificates		5.700		02/26/35		818
			Series - 2004 2 (Class 1M2)
	1,211,695	i	CIT Group Home Equity Loan Trust		6.200		02/25/30		1,208
			Series - 2002 1 (Class AF6)
	9,188,597	i	Connecticut Avenue Securities		1.694		02/25/25		9,210
			Series - 2015 C01 (Class 1M1)
	20,764	i	Countrywide Asset-Backed Certificates		1.014		05/25/36		21
			Series - 2004 AB2 (Class A3)
	7,960,000	g	DB Master Finance LLC		3.262		02/20/45		8,006
			Series - 2015 1A (Class A2I)
	6,965,000	g	DB Master Finance LLC		3.980		02/20/45		7,024
			Series - 2015 1A (Class A2II)
	5,525,000	g,i	DB/UBS Mortgage Trust		5.735		11/10/46		6,160
			Series - 2011 LC1A (Class C)
	112,756,544	g	Dominos Pizza Master Issuer LLC		5.216		01/25/42		116,138
			Series - 2012 1A (Class A2)
	16,030,568	g	Drive Auto Receivables Trust		1.010		11/15/17		16,023
			Series - 2015 AA (Class A2)
	1,167,780	g	Enterprise Fleet Financing LLC		0.680		09/20/18		1,167
			Series - 2013 1 (Class A2)
	5,250,000		Ford Credit Auto Owner Trust		1.150		07/15/18		5,255
			Series - 2013 A (Class B)
	5,595,000		Ford Credit Auto Owner Trust		2.430		01/15/19		5,669
			Series - 2012 C (Class D)
	3,861,000		Ford Credit Floorplan Master		0.850		01/15/18		3,863
			Series - 0 1 (Class A1)
	1,960,000		Ford Credit Floorplan Master Owner Trust		1.120		01/15/18		1,961
			Series - 2013 1 (Class B)
	55,945,000	g	Hertz Vehicle Financing LLC		3.740		02/25/17		56,273
			Series - 2010 1A (Class A2)
	26,266,667	g	Hertz Vehicle Financing LLC		5.700		02/25/17		26,520
			Series - 2010 1A (Class B2)
	15,000,000	g	Hertz Vehicle Financing LLC		1.860		08/25/17		15,007
			Series - 2013 1A (Class B1)
	1,180,000		Hyundai Auto Receivables Trust		2.010		06/15/21		1,185
			Series - 2015 B (Class B)
	2,160,737	i	Irwin Home Equity Corp		0.954		02/25/34		2,092
			Series - 2005 A (Class A3)
	15,200,964	g	JG Wentworth XXII LLC		3.820		12/15/48		16,197
			Series - 2010 3A (Class A)
	3,198,058	i	Lehman XS Trust		0.444		02/25/36		3,051
			Series - 2006 1 (Class 1A1)

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	12,295,831	i	Lehman XS Trust		6.500	%	06/25/46	$	9,495
			Series - 2006 13 (Class 2A1)
	2,352,124		Louisiana Public Facilities Authority		5.750		02/01/19		2,425
			Series - 2008 ELL (Class A2)
	889,353	g	NYCTL Trust		1.030		11/10/27		889
			Series - 2014 A (Class A)
	785,059	i	Park Place Securities, Inc Asset-Backed Pass-Through Certificates		1.139		09/25/34		786
			Series - 2004 WHQ1 (Class M1)
	20,993	i	Renaissance Home Equity Loan Trust		1.074		08/25/33		20
			Series - 2003 2 (Class A)
	113,375	i	Residential Asset Securities Corp		6.489		10/25/30		115
			Series - 2001 KS2 (Class AI6)
	274,841	i	Residential Asset Securities Corp		0.839		04/25/35		275
			Series - 2005 KS3 (Class M3)
	1,434,924	i	Residential Funding Mortgage Securities II, Inc		5.950		08/25/34		1,494
			Series - 2005 HI1 (Class A5)
	408,195	i	Residential Funding Mortgage Securities II, Inc		6.010		02/25/36		408
			Series - 2006 HI1 (Class M1)
	350,000	i	Residential Funding Mortgage Securities II, Inc		6.060		02/25/36		361
			Series - 2006 HI1 (Class M2)
	8,179,941		Santander Drive Auto Receivables Trust		0.720		04/16/18		8,175
			Series - 2014 5 (Class A2A)
	12,770,000		Santander Drive Auto Receivables Trust		3.500		06/15/18		12,997
			Series - 2012 4 (Class D)
	8,384,000		Santander Drive Auto Receivables Trust		1.760		01/15/19		8,403
			Series - 2013 1 (Class C)
	5,830,000		Santander Drive Auto Receivables Trust		2.270		01/15/19		5,866
			Series - 2013 2013-1 (Class D)
	52,250,000		Santander Drive Auto Receivables Trust		1.620		02/15/19		52,354
			Series - 2014 2 (Class B)
	4,410,000		Santander Drive Auto Receivables Trust		2.570		03/15/19		4,477
			Series - 2013 2 (Class D)
	1,240,000		Santander Drive Auto Receivables Trust		1.810		04/15/19		1,243
			Series - 2013 3 (Class C)
	4,625,000		Santander Drive Auto Receivables Trust		2.420		04/15/19		4,643
			Series - 2013 3 (Class D)
	79,872,000		Santander Drive Auto Receivables Trust		2.250		06/17/19		80,590
			Series - 2013 5 (Class C)
	20,615,000	g	Santander Drive Auto Receivables Trust		3.120		10/15/19		20,956
			Series - 2013 A (Class C)
	5,325,000		Santander Drive Auto Receivables Trust		2.910		04/15/20		5,391
			Series - 2014 1 (Class D)
	14,172,000		Santander Drive Auto Receivables Trust		2.130		08/17/20		14,280
			Series - 2014 3 (Class C)
	996,537	i	Securitized Asset Backed Receivables LLC		0.494		10/25/35		987
			Series - 2006 OP1 (Class A2C)
	322,739	g	Sierra Receivables Funding Co LLC		1.590		11/20/29		320
			Series - 2013 1A (Class A)
	8,088,783	g	Sierra Receivables Funding Co LLC		2.700		10/20/30		8,139
			Series - 2013 3A (Class B)
	8,863,490	g	Sierra Receivables Funding Co LLC		2.050		06/20/31		8,932
			Series - 2014 2A (Class A)

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,649,672	g	Sierra Receivables Funding Co LLC		2.400	%	06/20/31	$	3,643
			Series - 2014 2A (Class B)
	11,087,159	g	Sierra Receivables Funding Co LLC		2.400		03/22/32		11,144
			Series - 2015 1A (Class A)
	41,823,000	g	SLM Student Loan Trust		3.740		02/15/29		43,904
			Series - 2011 B (Class A2)
	4,536,944	g	SolarCity LMC		4.590		04/20/44		4,626
			Series - 2014 1 (Class A)
	609,100	i	Soundview Home Equity Loan Trust		0.494		11/25/35		607
			Series - 2005 OPT3 (Class A4)
	99,009,698	g	SpringCastle America Funding LLC		2.700		05/25/23		99,142
			Series - 2014 AA (Class A)
	4,247,043	g,i	Structured Asset Securities Corp Mortgage Loan Trust		0.414		10/25/36		4,209
			Series - 2006 GEL4 (Class A2)
	2,784,648	g	Volvo Financial Equipment LLC		0.540		11/15/16		2,784
			Series - 2014 1A (Class A2)
	3,820,227	g	Volvo Financial Equipment LLC		0.740		03/15/17		3,820
			Series - 2013 1A (Class A3)
	1,890,000	g	Vornado DP LLC		5.280		09/13/28		2,099
			Series - 2010 VNO (Class C)
	687,495	g,m	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		700
			Series - 2006 N1 (Class N1)
	1,152,674	g,i	Wachovia Loan Trust		0.554		05/25/35		1,122
			Series - 2005 SD1 (Class A)
	332,294	i	Wells Fargo Home Equity Trust		0.334		07/25/36		331
			Series - 2006 2 (Class A3)
	41,000,000	g	Wendys Funding LLC		3.371		06/15/45		41,194
			Series - 2015 1A (Class A2I)
			TOTAL ASSET BACKED						955,285
OTHER MORTGAGE BACKED - 7.5%
	1,059,000		Banc of America Commercial Mortgage Trust		5.390		10/10/45		1,097
			Series - 2006 6 (Class AM)
	2,500,000		Banc of America Commercial Mortgage Trust		5.480		10/10/45		2,505
			Series - 2006 6 (Class B)
	10,500,000	g	Banc of America Commercial Mortgage Trust		5.416		01/15/49		10,867
			Series - 2007 1 (Class AM)
	14,549,000	i	Banc of America Commercial Mortgage Trust		5.482		01/15/49		15,079
			Series - 2007 1 (Class AMFX)
	18,825,000	i	Bear Stearns Commercial Mortgage Securities		6.116		09/11/42		19,915
			Series - 2007 T28 (Class AJ)
	4,500,000	i	Bear Stearns Commercial Mortgage Securities		5.878		06/11/50		4,611
			Series - 2007 PW17 (Class AJ)
	8,000,000	g	CGBAM Commercial Mortgage Trust		3.516		04/10/28		8,208
			Series - 2015 SMRT (Class C)
	9,000,000	g	CGBAM Commercial Mortgage Trust		3.768		04/10/28		9,215
			Series - 2015 SMRT (Class D)
	11,230,395	i	CHL Mortgage Pass-Through Trust		2.506		02/20/35		11,131
			Series - 2004 HYB9 (Class 1A1)
	1,500,000	i	Citigroup Commercial Mortgage Trust		5.975		03/15/49		1,524
			Series - 2006 C4 (Class AJ)
	892,009	i	Citigroup Commercial Mortgage Trust		5.713		12/10/49		911
			Series - 2007 C6 (Class ASB)

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	7,095,000	i	Citigroup Commercial Mortgage Trust		5.899	%	12/10/49	$	7,439
			Series - 2007 C6 (Class AM)
	15,000,000	g,i	Citigroup Commercial Mortgage Trust		5.900		12/10/49		15,681
			Series - 2007 C6 (Class AMFX)
	11,626,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		11,859
			Series - 2007 C3 (Class AJ)
	32,585,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		34,611
			Series - 2007 C3 (Class AM)
	5,640,000	i	COBALT CMBS Commercial Mortgage Trust		5.526		04/15/47		5,945
			Series - 2007 C2 (Class AMFX)
	914,838		COMM Mortgage Trust		1.399		02/10/48		915
			Series - 2015 LC19 (Class A1)
	16,156,810	i	COMM Mortgage Trust		5.796		12/10/49		16,778
			Series - 2007 C9 (Class B)
	1,000,000	i	COMM Mortgage Trust		5.989		12/10/49		1,032
			Series - 2007 C9 (Class C)
	10,550,000	i	Commercial Mortgage Trust		5.238		04/10/37		10,543
			Series - 2005 GG5 (Class AJ)
	28,000,000	i	Commercial Mortgage Trust		5.867		12/10/49		29,572
			Series - 2007 GG11 (Class AM)
	1,245,835		Countrywide Alternative Loan Trust		5.500		08/25/16		1,262
			Series - 2004 30CB (Class 1A15)
	12,133,000	i	Credit Suisse Commercial Mortgage Trust		5.903		09/15/39		12,424
			Series - 2007 C4 (Class A1AJ)
	14,500,000	i	Credit Suisse Commercial Mortgage Trust		5.949		09/15/39		14,869
			Series - 2007 C4 (Class AJ)
	11,120,000		Credit Suisse Commercial Mortgage Trust		5.343		12/15/39		11,550
			Series - 2006 C5 (Class AM)
	11,235,000	g	Credit Suisse Commercial Mortgage Trust		5.383		02/15/40		11,545
			Series - 2009 RR1 (Class A3C)
	4,861,000	i	Credit Suisse Commercial Mortgage Trust		5.615		01/15/49		5,101
			Series - 2007 C2 (Class AM)
	22,500,000	i	Credit Suisse Commercial Mortgage Trust		5.625		01/15/49		23,181
			Series - 2007 C2 (Class AJ)
	990,000	i	Credit Suisse First Boston Mortgage Securities Corp		5.100		08/15/38		989
			Series - 2005 C5 (Class C)
	2,000,000	i	Credit Suisse First Boston Mortgage Securities Corp		5.100		08/15/38		1,998
			Series - 2005 C5 (Class B)
	3,920,000	i	Credit Suisse First Boston Mortgage Securities Corp		5.230		12/15/40		3,924
			Series - 2005 C6 (Class B)
	11,500,000	g	Credit Suisse Mortgage Capital Certificates		5.626		05/15/23		12,984
			Series - 2006 OMA (Class D)
	5,250,000		Credit Suisse Mortgage Capital Certificates		5.509		09/15/39		5,411
			Series - 2006 C4 (Class AM)
	5,000,000	g	Four Times Square Trust Commercial Mortgage Pass-Through Certificates		5.401		12/13/28		5,648
			Series - 2006 4TS (Class A)
	2,500,000	i	GE Commercial Mortgage Corp		5.606		12/10/49		2,593
			Series - 2007 C1 (Class AM)
	3,665,000	i	GMAC Commercial Mortgage Securities, Inc		4.984		12/10/41		3,771
			Series - 2004 C3 (Class C)
	10,000,000	i	Greenwich Capital Commercial Funding Corp		6.013		07/10/38		10,240
			Series - 2006 GG7 (Class AM)

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	14,500,000	i	GS Mortgage Securities Corp II		5.622	%	04/10/38	$	14,614
			Series - 2006 GG6 (Class AM)
	5,910,000	g,i	GS Mortgage Securities Corp II		5.359		12/10/43		6,574
			Series - 2010 C2 (Class B)
	12,004,000	i	GS Mortgage Securities Trust		5.553		04/10/38		12,040
			Series - 2006 GG6 (Class B)
	11,480,250	i	GS Mortgage Securities Trust		5.629		04/10/38		11,473
			Series - 2006 GG6 (Class C)
	3,806,242	i	Harborview Mortgage Loan Trust		0.436		07/19/47		3,106
			Series - 2007 4 (Class 2A1)
	1,551,642	i	Impac CMB Trust		0.854		03/25/35		1,448
			Series - 2004 11 (Class 2A1)
	7,965,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.911		07/15/42		7,984
			Series - 2005 LDP2 (Class C)
	17,650,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		5.565		04/15/43		17,803
			Series - 2006 LDP6 (Class AJ)
	8,145,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.360		02/15/46		8,824
			Series - 2011 C3 (Class C)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.457		07/15/46		7,025
			Series - 2011 C4 (Class C)
	25,260,761		JP Morgan Chase Commercial Mortgage Securities Trust		5.257		05/15/47		25,962
			Series - 2006 LDP9 (Class A1A)
	3,500,000	i	LB-UBS Commercial Mortgage Trust		5.852		06/15/38		3,576
			Series - 2006 C4 (Class AJ)
	6,000,000		LB-UBS Commercial Mortgage Trust		5.484		02/15/40		6,169
			Series - 2007 C1 (Class AJ)
	1,400,000	i	LB-UBS Commercial Mortgage Trust		5.533		02/15/40		1,416
			Series - 2007 C1 (Class C)
	4,150,000	i	LB-UBS Commercial Mortgage Trust		5.563		02/15/40		4,109
			Series - 2007 C1 (Class D)
	750,000	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		796
			Series - 2007 C6 (Class AM)
	7,225,000	g	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		7,665
			Series - 2007 C6 (Class AMFL)
	18,992,423	g,i	LVII Resecuritization Trust		2.997		07/31/47		18,992
			Series - 2015 A (Class A)
	12,000,000	i	Merrill Lynch Mortgage Trust		5.597		11/12/37		11,994
			Series - 2005 CKI1 (Class B)
	2,205,000	i	Merrill Lynch Mortgage Trust		6.475		02/12/51		2,373
			Series - 0 C1 (Class AJA)
	5,880,000	g,i	Merrill Lynch Mortgage Trust		6.475		02/12/51		6,216
			Series - 2008 C1 (Class C)
	2,210,442	g,i	Merrill Lynch Mortgage Trust		6.475		02/12/51		2,379
			Series - 0 C1 (Class AJAF)
	21,695,000	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		22,331
			Series - 2007 6 (Class AM)
	2,265,000	g,i	Morgan Stanley Capital I Trust		6.017		08/12/41		2,316
			Series - 2006 T23 (Class B)
	8,700,000	i	Morgan Stanley Capital I Trust		5.389		11/12/41		8,867
			Series - 2006 HQ10 (Class AJ)
	254,297	i	Morgan Stanley Capital I Trust		4.840		12/13/41		256
			Series - 2005 T17 (Class AJ)

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	12,300,000	i	Morgan Stanley Capital I Trust		5.793	%	07/12/44	$	12,611
			Series - 2006 HQ9 (Class AJ)
	500,000	i	Morgan Stanley Capital I Trust		5.832		07/12/44		509
			Series - 2006 HQ9 (Class B)
	7,686,324		Morgan Stanley Capital I Trust		5.569		12/15/44		8,106
			Series - 2007 HQ13 (Class A3)
	3,550,000	g,i	Morgan Stanley Capital I Trust		5.564		09/15/47		3,800
			Series - 2011 C1 (Class D)
	6,650,000	i	Morgan Stanley Capital I Trust		5.678		04/12/49		6,814
			Series - 2007 HQ12 (Class B)
	11,000,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		11,668
			Series - 2007 IQ15 (Class AM)
	10,300,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		10,328
			Series - 2007 IQ15 (Class AJ)
	12,121,000	g,i	Morgan Stanley Capital I Trust		6.104		06/11/49		10,645
			Series - 2007 IQ15 (Class B)
	8,750,000	i	Morgan Stanley Capital I Trust		6.080		12/12/49		9,336
			Series - 2007 IQ16 (Class AMA)
	2,330,000	i	Morgan Stanley Capital I Trust		6.115		12/12/49		2,225
			Series - 2007 IQ16 (Class AJ)
	1,000,000	i	Morgan Stanley Capital I Trust		6.281		12/12/49		1,076
			Series - 2007 IQ16 (Class AM)
	22,229,000	i	Morgan Stanley Capital I Trust		6.319		12/12/49		21,146
			Series - 2007 IQ16 (Class AJA)
	7,000,000	i	Morgan Stanley Capital I Trust		6.319		12/12/49		6,682
			Series - 2007 IQ16 (Class AJFX)
	146,910		Residential Accredit Loans, Inc		4.350		03/25/34		147
			Series - 2004 QS4 (Class A1)
	4,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.394		09/25/24		3,973
			Series - 2014 HQ2 (Class M2)
	3,516,064	i	Structured Agency Credit Risk Debt Note (STACR)		1.444		01/25/25		3,516
			Series - 2015 DN1 (Class M1)
	6,500,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.594		01/25/25		6,579
			Series - 2015 DN1 (Class M2)
	4,657,752	i	Structured Agency Credit Risk Debt Note (STACR)		1.244		03/25/25		4,652
			Series - 2015 HQ1 (Class M1)
	1,950,523	i	Structured Agency Credit Risk Debt Note (STACR)		1.294		05/25/25		1,943
			Series - 2015 HQ2 (Class M1)
	16,250,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.144		05/25/25		15,938
			Series - 2015 HQ2 (Class M2)
	9,000,000	g,i	Wachovia Bank Commercial Mortgage Trust		0.407		12/15/43		8,726
			Series - 2007 C30 (Class AMFL)
	35,625,000		Wachovia Bank Commercial Mortgage Trust		5.383		12/15/43		37,028
			Series - 2007 C30 (Class AM)
	3,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.865		07/15/45		2,697
			Series - 2006 C27 (Class B)
	32,910,000	i	Wachovia Bank Commercial Mortgage Trust		5.818		05/15/46		35,075
			Series - 2007 C34 (Class AM)
	5,300,000	i	Wachovia Bank Commercial Mortgage Trust		6.143		05/15/46		5,484
			Series - 2007 C34 (Class AJ)
	7,175,000	i	Wachovia Bank Commercial Mortgage Trust		5.591		04/15/47		7,541
			Series - 2007 C31 (Class AM)

347

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,157,290	i	Wachovia Bank Commercial Mortgage Trust		5.660	%	04/15/47	$	6,268
			Series - 2007 C31 (Class AJ)
	2,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.700		04/15/47		1,993
			Series - 2007 C31 (Class B)
	88,795,000	g	Wachovia Bank Commercial Mortgage Trust		5.703		06/15/49		93,567
			Series - 2007 C32 (Class AMFX)
	49,550,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		50,781
			Series - 2007 C32 (Class AJ)
	2,794,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		2,727
			Series - 2007 C32 (Class B)
	33,600,000	i	Wachovia Bank Commercial Mortgage Trust		5.953		02/15/51		35,839
			Series - 2007 C33 (Class AM)
	6,418,679	i	WaMu Mortgage Pass-Through Certificates		0.544		12/25/45		5,713
			Series - 2005 AR19 (Class A1B3)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust		5.276		11/15/43		5,198
			Series - 2010 C1 (Class B)
			TOTAL OTHER MORTGAGE BACKED						1,003,567
			TOTAL STRUCTURED ASSETS						1,958,852
			(Cost $1,957,236)
			TOTAL BONDS						13,132,945
			(Cost $13,040,776)

SHARES			COMPANY
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	470,597	*	Federal Home Loan Mortgage Corp	2,306
	1,527,061	*	Federal National Mortgage Association	7,406
			TOTAL BANKS	9,712
			TOTAL PREFERRED STOCKS	9,712
			(Cost $49,941)

PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 12.3%
GOVERNMENT AGENCY DEBT - 3.6%
$	29,700,000		Federal Home Loan Bank (FHLB)	0.100	10/02/15	29,700
	25,000,000	w	FHLB	0.060	10/06/15	25,000
	36,000,000	w	FHLB	0.100	10/07/15	36,000
	7,980,000	w	FHLB	0.090	10/09/15	7,980
	19,000,000		FHLB	0.130	10/16/15	19,000
	30,000,000	w	FHLB	0.135	10/22/15	29,999
	25,000,000	w	FHLB	0.050	11/02/15	24,999
	37,000,000	w	FHLB	0.100	11/03/15	36,998
	25,000,000	w	FHLB	0.075	11/09/15	24,998
	20,000,000		FHLB	0.080	11/12/15	19,998
	72,000,000	w	FHLB	0.090-0.150	11/13/15	71,994
	35,000,000		FHLB	0.080	12/16/15	34,992
	60,000,000	w	FHLB	0.170	01/25/16	59,975

348

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	15,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.060	%	10/26/15	$	15,000
	45,000,000	w	Federal National Mortgage Association (FNMA)		0.175		11/18/15		44,996
	5,000,000	w	FNMA		0.140		12/01/15		4,999
			TOTAL GOVERNMENT AGENCY DEBT						486,628
TREASURY DEBT - 8.7%
	142,000,000	w	United States Treasury Bill		0.091-0.108		10/15/15		142,003
	188,000,000	w	United States Treasury Bill		0.079-0.138		11/12/15		188,002
	85,000,000	w	United States Treasury Bill		0.080-0.132		12/10/15		85,004
	36,000,000	w	United States Treasury Bill		0.150		01/07/16		35,998
	38,000,000	w	United States Treasury Bill		0.113-0.115		01/14/16		37,999
	100,000,000	w	United States Treasury Bill		0.126		01/21/16		99,995
	110,000,000	w	United States Treasury Bill		0.122-0.130		02/04/16		109,991
	67,000,000	w	United States Treasury Bill		0.176		02/18/16		66,994
	100,000,000	w	United States Treasury Bill		0.148-0.249		03/03/16		99,986
	100,000,000	w	United States Treasury Bill		0.211-0.217		04/28/16		99,960
	100,000,000	w	United States Treasury Bill		0.200		05/26/16		99,942
	100,000,000	w	United States Treasury Bill		0.241-0.251		06/23/16		99,871
			TOTAL TREASURY DEBT						1,165,745
			TOTAL SHORT-TERM INVESTMENTS						1,652,373
			(Cost $1,651,874)
			TOTAL INVESTMENTS - 110.9%						14,897,040
			(Cost $14,845,252)
			OTHER ASSETS & LIABILITIES, NET - (10.9)%						(1,465,523	)
			NET ASSETS - 100.0%					$	13,431,517

	Abbreviation(s):
BRL	Brazilian Real
COP	Columbian Peso
DOP	Dominican Peso
MXN	Mexican Peso
NGN	Nigerian Naira
REIT	Real Estate Investment Trust
ZAR	South African Rand

*	Non-income producing
^	Amount represents less than $1,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/15 the aggregate value of these securities was $1,871,452,000, or 13.9% 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.
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.

349

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND
INFLATION-LINKED BOND ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2015

PRINCIPAL			ISSUER	VALUE (000)
GOVERNMENT BONDS - 99.6%
AGENCY SECURITIES - 0.2%
			Private Export Funding Corp (PEFCO)
$	3,500,000		2.300%, 09/15/20	$	3,565
	3,000,000		3.250%, 06/15/25		3,116
			Ukraine Government AID Bonds
	3,500,000		1.847%, 05/29/20		3,548
			TOTAL AGENCY SECURITIES		10,229
MORTGAGE BACKED - 0.2%
			Government National Mortgage Association (GNMA)
	14,411,209		3.650%, 02/15/32		15,526
			TOTAL MORTGAGE BACKED		15,526
U.S. TREASURY SECURITIES - 99.2%
			United States Treasury Bond
	20,000,000		3.000%, 05/15/45		20,482
	12,000,000		2.875%, 08/15/45		12,001
		k	United States Treasury Inflation Indexed Bonds
	64,493,461		2.500%, 07/15/16		65,562
	177,523,296		2.375%, 01/15/17		182,273
	405,498,772		0.125%, 04/15/17		404,031
	140,136,333		2.625%, 07/15/17		146,796
	148,150,359		1.625%, 01/15/18		153,386
	320,669,652		0.125%, 04/15/18		320,352
	150,071,232		1.375%, 07/15/18		156,074
	147,283,025		2.125%, 01/15/19		156,916
	222,033,000		0.125%, 04/15/19		221,339
	137,479,560		1.875%, 07/15/19		146,858
	225,469,566		1.375%, 01/15/20		236,646
	100,890,900		0.125%, 04/15/20		100,271
	291,775,875		1.250%, 07/15/20		306,387
	363,227,552		1.125%, 01/15/21		377,601
	344,983,104		0.625%, 07/15/21		349,911
	343,723,091		0.125%, 01/15/22		335,112
	401,624,730		0.125%, 07/15/22		391,840
	271,923,590		0.125%, 01/15/23		262,293
	52,301,010		0.375%, 07/15/23		51,424
	77,989,263		0.625%, 01/15/24		77,655
	70,356,300		0.125%, 07/15/24		67,172
	58,440,800		0.250%, 01/15/25		56,051
	225,060,158		2.375%, 01/15/25		259,136
	214,421,547		2.000%, 01/15/26		240,733
	161,181,804		2.375%, 01/15/27		188,767
	199,242,582		1.750%, 01/15/28		220,386
	140,213,189		3.625%, 04/15/28		185,929
	181,074,753		2.500%, 01/15/29		217,320

350

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

PRINCIPAL		ISSUER	VALUE (000)
$	169,981,895	3.875%, 04/15/29	$	234,429
	49,424,923	3.375%, 04/15/32		67,764
	80,217,224	2.125%, 02/15/40		94,610
	79,990,586	2.125%, 02/15/41		94,885
	214,719,361	0.750%, 02/15/42		188,033
	118,335,420	0.625%, 02/15/43		99,738
	102,912,000	1.375%, 02/15/44		104,492
	30,404,100	0.750%, 02/15/45		26,386
		United States Treasury Note
	15,000,000	1.625%, 06/30/20		15,192
	7,500,000	2.125%, 05/15/25		7,548
		TOTAL U.S. TREASURY SECURITIES		6,843,781
		TOTAL GOVERNMENT BONDS
		(Cost $6,665,599)		6,869,536
SHORT-TERM INVESTMENTS - 0.1%
GOVERNMENT AGENCY DEBT - 0.1%
		Federal Home Loan Bank (FHLB)
	7,600,000	0.170%, 10/14/11		7,600
				7,600
		TOTAL SHORT-TERM INVESTMENTS		7,600
		(Cost $7,600)
		TOTAL INVESTMENTS - 99.7%		6,877,136
		(Cost $6,673,199)
		OTHER ASSETS AND LIABILITIES, NET - 0.3%		18,227
		NET ASSETS - 100.0%	$	6,895,363

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

351

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND

SOCIAL CHOICE ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2015

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BANK LOAN OBLIGATIONS - 0.4%
ENERGY - 0.2%
$	781,801	i	Granite Acquisition, Inc		5.000	%	12/19/21	$	765
	17,634,938	i	Granite Acquisition, Inc		5.000		12/19/21		17,253
			TOTAL ENERGY						18,018
MEDIA - 0.0%
	3,167,063	i	CCO Safari III LLC		3.500		01/24/23		3,148
			TOTAL MEDIA						3,148
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	1,567,125	i	Valeant Pharmaceuticals International, Inc		4.000		04/01/22		1,550
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						1,550
UTILITIES - 0.2%
	10,263,267	i	ExGen Renewables I LLC		5.250		02/06/21		10,263
	15,716,710	i	Terra-Gen Finance Co LLC		5.250		12/09/21		15,245
			TOTAL UTILITIES						25,508
			TOTAL BANK LOAN OBLIGATIONS						48,224
			(Cost $48,833)
BONDS - 39.3%
CORPORATE BONDS - 11.8%
AUTOMOBILES & COMPONENTS - 0.2%
	16,500,000	e	Harley-Davidson, Inc		4.625		07/28/45		16,513
	4,500,000		Johnson Controls, Inc		2.600		12/01/16		4,571
	3,250,000		Johnson Controls, Inc		5.000		03/30/20		3,564
	4,675,000		Magna International, Inc		3.625		06/15/24		4,542
			TOTAL AUTOMOBILES & COMPONENTS						29,190
BANKS - 2.4%
	34,500,000		Bank of America Corp		1.350		11/21/16		34,537
	51,000,000		Bank of America Corp		1.950		05/12/18		51,168
	18,500,000	e	Bank of Nova Scotia		2.125		09/11/19		18,734
	21,000,000	i	BOK Financial Corp		1.011		05/15/17		20,731
	7,025,000	e	Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		7,058
	6,000,000		Discover Bank		2.600		11/13/18		6,026
	7,355,000		Discover Bank		4.200		08/08/23		7,576
	5,000,000	g	DNB Boligkreditt AS.		2.000		05/28/20		5,028

352

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	10,000,000		First Niagara Financial Group, Inc		6.750	%	03/19/20	$	11,281
	10,000,000	e	Huntington Bancshares, Inc		2.600		08/02/18		10,106
	11,500,000	e,g	Intesa Sanpaolo S.p.A		5.017		06/26/24		11,352
	9,913,000		Manufacturers & Traders Trust Co		6.625		12/04/17		10,962
	13,750,000		Manufacturers & Traders Trust Co		1.450		03/07/18		13,646
	4,644,000	i	Manufacturers & Traders Trust Co		5.585		12/28/20		4,638
	6,076,000	i	Manufacturers & Traders Trust Co		5.629		12/01/21		6,106
	2,475,000		Manufacturers & Traders Trust Co		2.900		02/06/25		2,402
	3,314,000	e	Northern Trust Corp		3.375		08/23/21		3,505
	18,257,000	e	People’s United Financial, Inc		3.650		12/06/22		18,196
	8,245,000		PNC Bank NA		2.950		01/30/23		8,068
	12,000,000		Regions Financial Corp		2.000		05/15/18		11,991
	16,450,000	e	Royal Bank of Canada		1.875		02/05/20		16,477
	14,500,000	e,g	Skandinaviska Enskilda Banken AB		1.375		05/29/18		14,478
	20,000,000		SVB Financial Group		3.500		01/29/25		19,514
	5,300,000	g	Toronto-Dominion Bank		1.950		04/02/20		5,304
			TOTAL BANKS						318,884
CAPITAL GOODS - 0.6%
	2,500,000		3M Co		6.375		02/15/28		3,255
	1,975,000		Anixter, Inc		5.125		10/01/21		1,960
	4,575,000	g	Anixter, Inc		5.500		03/01/23		4,506
	2,500,000		Eaton Corp		4.000		11/02/32		2,402
	4,600,000		Ingersoll-Rand Global Holding Co Ltd		4.250		06/15/23		4,767
	5,155,000		Pall Corp		5.000		06/15/20		5,689
	5,625,000		Parker-Hannifin Corp		4.200		11/21/34		5,730
	6,980,000		Pentair Finance S.A.		2.650		12/01/19		6,853
	5,675,000		Precision Castparts Corp		2.500		01/15/23		5,499
	6,400,000		Rockwell Automation, Inc		2.050		03/01/20		6,425
	6,000,000		Rockwell Automation, Inc		2.875		03/01/25		5,961
	3,300,000		Rockwell Collins, Inc		3.100		11/15/21		3,447
	6,125,000		Rockwell Collins, Inc		3.700		12/15/23		6,425
	5,000,000		Roper Industries, Inc		3.125		11/15/22		4,933
	2,500,000	e,g	Sealed Air Corp		5.500		09/15/25		2,538
	9,000,000		Trimble Navigation Ltd		4.750		12/01/24		9,005
			TOTAL CAPITAL GOODS						79,395
COMMERCIAL & PROFESSIONAL SERVICES - 0.3%
	4,000,000	g	AECOM Technology Corp		5.750		10/15/22		4,030
	5,300,000		Air Lease Corp		2.125		01/15/18		5,247
	9,075,000	e	Air Lease Corp		3.875		04/01/21		9,188
	6,525,000		Air Lease Corp		4.250		09/15/24		6,395
	11,500,000	e	Fluor Corp		3.500		12/15/24		11,695
	2,730,000		Waste Management, Inc		4.600		03/01/21		3,011
	3,475,000	e	Waste Management, Inc		3.900		03/01/35		3,276
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						42,842
CONSUMER DURABLES & APPAREL - 0.0%
	2,925,000		Whirlpool Corp		5.150		03/01/43		2,933
			TOTAL CONSUMER DURABLES & APPAREL						2,933
CONSUMER SERVICES - 0.7%
	4,000,000		American National Red Cross		5.567		11/15/17		4,309

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	10,000,000		Henry J Kaiser Family Foundation		3.356	%	12/01/25	$	10,282
	20,000,000		Massachusetts Institute of Technology		3.959		07/01/38		20,679
	1,250,000		McDonald’s Corp		5.000		02/01/19		1,371
	19,000,000		Metropolitan Museum of Art		3.400		07/01/45		17,304
	7,550,000		Nature Conservancy		6.300		07/01/19		8,496
	17,500,000		New York Public Library Astor Lenox & Tilden Foundations		4.305		07/01/45		16,721
	8,000,000		Northwestern University		3.688		12/01/38		7,871
	5,145,000		Salvation Army		5.637		09/01/26		5,676
			TOTAL CONSUMER SERVICES						92,709
DIVERSIFIED FINANCIALS - 0.8%
	2,675,000		Bank of New York Mellon Corp		5.450		05/15/19		2,976
	14,750,000	g	Caisse Centrale Desjardins du Quebec		1.600		03/06/17		14,888
	5,000,000		Discover Financial Services		3.750		03/04/25		4,844
	9,000,000	e,g	EDP Finance BV		4.125		01/15/20		9,123
	9,500,000	e,g	EDP Finance BV		5.250		01/14/21		10,026
	7,875,000		Ford Motor Credit Co LLC		2.375		01/16/18		7,884
	2,300,000		Legg Mason, Inc		3.950		07/15/24		2,308
	45,500,000		Morgan Stanley		2.200		12/07/18		45,926
	9,750,000	g	RCI Banque S.A.		3.500		04/03/18		10,064
			TOTAL DIVERSIFIED FINANCIALS						108,039
ENERGY - 1.0%
	3,000,000	e	California Resources Corp		6.000		11/15/24		1,800
	4,145,000	e	Continental Resources, Inc		5.000		09/15/22		3,627
	3,740,000	e,i	Devon Energy Corp		0.787		12/15/15		3,736
	2,500,000		Devon Energy Corp		6.300		01/15/19		2,799
	3,000,000		EOG Resources, Inc		4.100		02/01/21		3,210
	8,450,000		EOG Resources, Inc		3.900		04/01/35		7,989
	1,526,000		Marathon Oil Corp		5.900		03/15/18		1,648
	7,450,000		Marathon Petroleum Corp		4.750		09/15/44		6,625
	3,025,000		National Oilwell Varco, Inc		1.350		12/01/17		3,005
	2,500,000		Noble Energy, Inc		8.250		03/01/19		2,926
	3,290,000	e	Noble Energy, Inc		5.050		11/15/44		2,851
	4,500,000	e	Noble Holding International Ltd		6.950		04/01/45		3,113
	2,150,000	g	Northern Natural Gas Co		4.100		09/15/42		2,123
	9,000,000		Phillips 66		4.650		11/15/34		8,765
	2,575,000		Southwestern Energy Co		3.300		01/23/18		2,530
	5,300,000		Southwestern Energy Co		4.050		01/23/20		5,270
	5,000,000		Spectra Energy Capital LLC		5.650		03/01/20		5,413
	9,000,000	e,i	Statoil ASA		0.511		11/09/17		8,945
	9,000,000	i	Statoil ASA		0.611		05/15/18		8,923
	9,500,000		Statoil ASA		3.150		01/23/22		9,617
	4,500,000	e	Statoil ASA		2.650		01/15/24		4,301
	4,000,000		Statoil ASA		3.950		05/15/43		3,737
	12,150,000	g	Texas Eastern Transmission LP		2.800		10/15/22		11,247
	6,175,000	e	Weatherford International Ltd		4.500		04/15/22		4,996
	12,350,000	g	Woodside Finance Ltd		3.650		03/05/25		11,197
			TOTAL ENERGY						130,393
FOOD & STAPLES RETAILING - 0.1%
	6,900,000		Kroger Co		1.200		10/17/16		6,904
	1,451,000		Safeway, Inc		3.400		12/01/16		1,445
			TOTAL FOOD & STAPLES RETAILING						8,349

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
FOOD, BEVERAGE & TOBACCO - 0.1%
$	4,678,000		Kellogg Co		4.000	%	12/15/20	$	4,995
	428,000		PepsiCo, Inc		7.900		11/01/18		506
	3,526,000		PepsiCo, Inc		3.600		08/13/42		3,167
			TOTAL FOOD, BEVERAGE & TOBACCO						8,668
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	4,000,000		Becton Dickinson & Co		5.000		05/15/19		4,381
	3,250,000		Laboratory Corp of America Holdings		2.625		02/01/20		3,258
	9,000,000		Laboratory Corp of America Holdings		3.200		02/01/22		8,845
	2,500,000		Laboratory Corp of America Holdings		3.600		02/01/25		2,421
	5,375,000		Owens & Minor, Inc		3.875		09/15/21		5,423
	5,000,000		Thermo Fisher Scientific, Inc		1.300		02/01/17		4,997
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						29,325
INSURANCE - 0.4%
	1,600,000	g,i	Merna Reinsurance IV Ltd		2.480		04/08/16		1,599
	3,100,000		Progressive Corp		3.750		08/23/21		3,314
	9,000,000		Progressive Corp		3.700		01/26/45		8,054
	15,000,000	e,i	Prudential Financial, Inc		5.200		03/15/44		14,737
	7,450,000	e,i	Prudential Financial, Inc		5.375		05/15/45		7,394
	10,000,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		9,747
	8,687,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		8,298
	2,000,000		Travelers Cos, Inc		5.900		06/02/19		2,287
			TOTAL INSURANCE						55,430
MATERIALS - 0.6%
	4,405,000		Agrium, Inc		3.150		10/01/22		4,324
	2,275,000		Ball Corp		5.000		03/15/22		2,281
	8,930,000	e	Ball Corp		4.000		11/15/23		8,394
	13,000,000	e	Ball Corp		5.250		07/01/25		12,813
	5,750,000	e	Domtar Corp		4.400		04/01/22		5,859
	2,300,000		Eastman Chemical Co		5.500		11/15/19		2,569
	7,050,000	e	Eastman Chemical Co		2.700		01/15/20		7,044
	7,500,000		International Paper Co		5.000		09/15/35		7,357
	5,000,000		International Paper Co		6.000		11/15/41		5,386
	4,000,000		International Paper Co		4.800		06/15/44		3,694
	9,350,000	e	LyondellBasell Industries NV		4.625		02/26/55		7,955
	5,000,000		MeadWestvaco Corp		7.375		09/01/19		5,867
	5,000,000		Nucor Corp		4.000		08/01/23		5,097
	4,000,000		Praxair, Inc		2.450		02/15/22		3,910
			TOTAL MATERIALS						82,550
MEDIA - 0.3%
	3,125,000	g	CCO Safari II LLC		3.579		07/23/20		3,102
	7,925,000	g	CCO Safari II LLC		4.464		07/23/22		7,925
	4,725,000	e,g	CCO Safari II LLC		4.908		07/23/25		4,704
	7,225,000		Time Warner Cable, Inc		8.250		04/01/19		8,428
	5,500,000	e	Time Warner Cable, Inc		4.500		09/15/42		4,351
			TOTAL MEDIA						28,510

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.3%
$	2,550,000	e	Biogen, Inc		2.900	%	09/15/20	$	2,571
	7,000,000		Biogen, Inc		3.625		09/15/22		7,056
	12,733,000	e	Bristol-Myers Squibb Co		3.250		08/01/42		10,963
	5,700,000		Gilead Sciences, Inc		4.500		02/01/45		5,492
	4,750,000	e,g	Valeant Pharmaceuticals International, Inc		6.375		10/15/20		4,723
	475,000	g	Valeant Pharmaceuticals International, Inc		5.625		12/01/21		451
	9,000,000	e,g	VRX Escrow Corp		5.375		03/15/20		8,747
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						40,003
REAL ESTATE - 0.5%
	10,000,000		Equity One, Inc		3.750		11/15/22		9,798
	3,500,000		Federal Realty Investment Trust		2.750		06/01/23		3,382
	3,400,000		Healthcare Realty Trust, Inc		5.750		01/15/21		3,810
	1,250,000		Kilroy Realty LP		5.000		11/03/15		1,254
	16,355,000		Kilroy Realty LP		3.800		01/15/23		16,282
	5,450,000	e	Kilroy Realty LP		4.375		10/01/25		5,502
	15,854,000		Regency Centers LP		3.750		06/15/24		15,883
	4,650,000		Regency Centers LP		3.900		11/01/25		4,689
	2,400,000	e	Ventas Realty LP		3.250		08/15/22		2,350
			TOTAL REAL ESTATE						62,950
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	1,575,000	e	Intel Corp		2.450		07/29/20		1,596
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						1,596
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	3,375,000		CC Holdings GS V LLC		2.381		12/15/17		3,399
	11,000,000	g,h	Hewlett Packard Enterprise Co		2.850		10/05/18		10,986
	5,475,000		Motorola Solutions, Inc		3.500		09/01/21		5,201
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						19,586
TELECOMMUNICATION SERVICES - 0.1%
	3,400,000	e	CenturyLink, Inc		6.750		12/01/23		2,954
	12,825,000		Sprint Corp		7.250		09/15/21		10,500
			TOTAL TELECOMMUNICATION SERVICES						13,454
TRANSPORTATION - 0.9%
	9,500,000	i	Canadian National Railway Co		0.479		11/14/17		9,413
	2,500,000		Delta Airlines		4.250		07/30/23		2,512
	5,925,000	e	Delta Airlines		3.625		07/30/27		5,969
	2,100,000		GATX Corp		2.500		03/15/19		2,098
	2,545,000		GATX Corp		2.500		07/30/19		2,547
	23,500,000	e	GATX Corp		2.600		03/30/20		23,182
	7,250,000		GATX Corp		5.200		03/15/44		7,446
	9,925,000		Kansas City Southern Railway Co		4.950		08/15/45		10,012
	2,500,000		Norfolk Southern Corp		5.750		01/15/16		2,534
	5,000,000	e	Norfolk Southern Corp		3.250		12/01/21		5,091
	6,894,000		Norfolk Southern Corp		2.903		02/15/23		6,725
	475,000		Norfolk Southern Corp		5.590		05/17/25		549
	7,500,000	e	Norfolk Southern Corp		4.450		06/15/45		7,251

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,900,000		Ryder System, Inc		2.550	%	06/01/19	$	6,917
	3,450,000		Southwest Airlines Co		2.750		11/06/19		3,516
	8,900,000		Spirit Airlines, Inc		4.100		04/01/28		8,967
	4,050,000	e	Union Pacific Corp		3.375		02/01/35		3,687
	10,000,000		Union Pacific Railroad Co		2.695		05/12/27		9,912
	1,360,000	e	United Parcel Service of America, Inc (Step Bond 8.375% until 04/01/20, 7.620% until 04/01/30)		8.375		04/01/30		1,952
			TOTAL TRANSPORTATION						120,280
UTILITIES - 2.1%
	2,000,000	e	Atmos Energy Corp		8.500		03/15/19		2,396
	1,200,000		Connecticut Light & Power Co		5.500		02/01/19		1,347
	2,000,000		Connecticut Light & Power Co		5.750		03/01/37		2,445
	8,955,715	g	Continental Wind LLC		6.000		02/28/33		10,075
	10,000,000		Delmarva Power & Light Co		4.150		05/15/45		9,655
	872,705	g	Great River Energy		5.829		07/01/17		904
	2,745,000	g	International Transmission Co		4.625		08/15/43		2,985
	7,575,000		Interstate Power & Light Co		3.250		12/01/24		7,672
	6,275,000	e	Interstate Power & Light Co		3.400		08/15/25		6,386
	9,250,000	g	Narragansett Electric Co		4.170		12/10/42		9,072
	9,450,000		NextEra Energy Capital Holdings, Inc		2.700		09/15/19		9,516
	9,600,000	g	Niagara Mohawk Power Corp		4.278		10/01/34		9,686
	9,750,000	g	Niagara Mohawk Power Corp		4.119		11/28/42		9,441
	1,500,000		Northwest Natural Gas Co		5.620		11/21/23		1,780
	10,000,000		NorthWestern Corp		4.176		11/15/44		9,977
	1,065,000	i	NSTAR Electric Co		0.561		05/17/16		1,063
	630,000		Public Service Co of Colorado		4.750		08/15/41		690
	10,000,000		Public Service Co of New Hampshire		3.500		11/01/23		10,356
	13,000,000	i	San Diego Gas & Electric Co		0.533		03/09/17		12,971
	5,500,000		San Diego Gas & Electric Co		3.000		08/15/21		5,742
	6,383,933		San Diego Gas & Electric Co		1.914		02/01/22		6,354
	620,000		San Diego Gas & Electric Co		6.000		06/01/39		790
	8,875,000		Sierra Pacific Power Co		3.375		08/15/23		9,026
	27,000,000	g	Solar Star Funding LLC		3.950		06/30/35		27,246
	7,950,000	g	Solar Star Funding LLC		5.375		06/30/35		9,042
	2,000,000		Southern California Edison Co		2.400		02/01/22		1,979
	12,500,000	i	TECO Finance, Inc		0.884		04/10/18		12,413
	19,000,000	e,g	TerraForm Power Operating LLC		5.875		02/01/23		16,768
	1,500,000	e,g	TerraForm Power Operating LLC		6.125		06/15/25		1,298
	5,000,000	g	Texas Eastern Transmission LP		4.125		12/01/20		5,182
	19,385,000	g	Topaz Solar Farms LLC		4.875		09/30/39		20,785
	14,500,000	g	Topaz Solar Farms LLC		5.750		09/30/39		16,363
	5,000,000		Washington Gas Light Co		5.440		08/11/25		5,639
	1,400,000	e	WEC Energy Group, Inc		3.550		06/15/25		1,423
	16,525,000		WGL Holdings, Inc		2.250		11/01/19		16,649
			TOTAL UTILITIES						275,116
			TOTAL CORPORATE BONDS						1,550,202
			(Cost $1,551,943)

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
GOVERNMENT BONDS -  24.0%
AGENCY SECURITIES - 4.6%
$	8,489,193		Ethiopian Leasing 2012 LLC		2.566	%	08/14/26	$	8,588
	4,138,348		Export Lease Ten Co LLC		1.650		05/07/25		4,060
	5,500,000		Federal Home Loan Bank (FHLB)		5.000		11/17/17		5,987
	17,166,667		FHLB		2.350		08/08/22		17,083
	5,000,000		Federal Home Loan Mortgage Corp (FHLMC)		1.000		09/29/17		5,030
	6,400,000		Federal National Mortgage Association (FNMA)		1.125		04/27/17		6,453
	7,000,000		FNMA		1.625		01/21/20		7,073
	15,500,000		FNMA		2.625		09/06/24		15,879
	2,290,826	g	Genesis Solar 2011 Pass Through Trust		3.875		02/15/38		2,455
	1,096,000	j	Government Trust Certificate		0.000		04/01/19		1,037
	5,000,000	j	Government Trust Certificate		0.000		04/01/21		4,354
	33,000,000		Hashemite Kingdom of Jordan Government AID Bond		2.503		10/30/20		34,334
	8,030,000	g	Hospital for Special Surgery		3.500		01/01/23		8,252
	8,625,000	i	India Government AID Bond		0.400		02/01/27		8,226
	6,425,000		Lutheran Medical Center		1.982		02/20/30		6,257
	8,625,000		Mexican Aircraft Finance V LLC		2.329		01/14/27		8,688
	3,985,000	g	Montefiore Medical Center		3.896		05/20/27		4,230
	101,557		National Credit Union Administration		1.840		10/07/20		102
	11,450,000		NCUA Guaranteed Notes		3.000		06/12/19		12,172
	7,000,000		NCUA Guaranteed Notes		3.450		06/12/21		7,591
	18,775,000		New York Society for the Relief of the Ruptured & Crippled		2.881		12/20/31		18,742
	3,000,000	j	Overseas Private Investment Corp (OPIC)		0.000		04/30/17		3,205
	10,750,000	j	OPIC		0.000		11/17/17		11,066
	5,700,000	j	OPIC		0.000		11/15/19		5,880
	4,898,086		OPIC		2.290		09/15/26		4,996
	2,680,003		OPIC		2.040		12/15/26		2,696
	7,462,730		OPIC		4.440		02/27/27		8,430
	9,750,000		OPIC		2.740		09/15/29		9,631
	12,000,000		OPIC		3.220		09/15/29		12,324
	13,500,000		OPIC		3.280		09/15/29		13,930
	2,483,210		OPIC		2.610		04/15/30		2,427
	4,465,000		OPIC		2.930		05/15/30		4,510
	7,379,000		OPIC		3.040		05/15/30		7,636
	8,676,500		OPIC		3.540		06/15/30		9,367
	22,305,969		OPIC		3.370		12/15/30		23,744
	22,853,026		OPIC		3.820		12/20/32		24,641
	14,743,888		OPIC		3.938		12/20/32		15,935
	12,500,000		OPIC		3.160		06/01/33		12,677
	12,000,000		OPIC		3.430		06/01/33		12,518
	2,000,000		OPIC		2.940		07/31/33		1,997
	9,750,000		Private Export Funding Corp (PEFCO)		2.125		07/15/16		9,868
	11,750,000		PEFCO		1.375		02/15/17		11,862
	8,000,000		PEFCO		2.250		12/15/17		8,216
	5,000,000		PEFCO		4.375		03/15/19		5,471
	5,854,000		PEFCO		1.450		08/15/19		5,807
	13,150,000	e	PEFCO		2.250		03/15/20		13,411
	8,000,000		PEFCO		2.300		09/15/20		8,149
	17,500,000		PEFCO		4.300		12/15/21		19,604
	8,250,000		PEFCO		2.050		11/15/22		8,043
	4,000,000		PEFCO		3.550		01/15/24		4,307
	5,335,000		PEFCO		2.450		07/15/24		5,235
	8,000,000		PEFCO		3.250		06/15/25		8,310
	2,953,844		Tayarra Ltd		3.628		02/15/22		3,143

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,858,311		Tricahue Leasing LLC		3.503	%	11/19/21	$	3,028
	9,250,000		Ukraine Government AID Bonds		1.844		05/16/19		9,355
	15,300,000		Ukraine Government AID Bonds		1.847		05/29/20		15,510
	8,125,000		Ulani MSN 35940 LLC		2.227		05/16/25		8,202
	10,750,000		United States Department of Housing and Urban Development (HUD)		1.770		08/01/18		10,955
	750,000		HUD		2.050		08/01/19		772
	9,500,000		HUD		4.870		08/01/19		10,696
	3,217,000		HUD		2.910		08/01/23		3,363
	3,894,000		HUD		2.910		08/01/17		4,050
	8,000,000		HUD		4.560		08/01/17		8,556
	5,007,000		HUD		5.380		08/01/18		5,226
	13,967,000		HUD		4.960		08/01/20		15,924
	13,500,000		HUD		5.050		08/01/21		15,400
	7,810,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		8,117
	5,833,333		VRG Linhas Aereas S.A.		0.983		03/13/18		5,820
	8,514,663		Zarapito Leasing LLC		2.628		11/12/26		8,697
			TOTAL AGENCY SECURITIES						619,300
FOREIGN GOVERNMENT BONDS - 4.0%
	24,000,000		African Development Bank		0.750		10/18/16		24,055
	13,550,000	e	African Development Bank		2.375		09/23/21		14,009
	17,500,000		Asian Development Bank		2.125		03/19/25		17,357
	6,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		6,113
	6,300,000	e	Canada Government International Bond		0.875		02/14/17		6,323
	9,000,000		Canada Government International Bond		1.125		03/19/18		9,042
	7,638,043	g	Carpintero Finance Ltd		2.004		09/18/24		7,644
	25,000,000		European Bank for Reconstruction & Development		1.625		04/10/18		25,282
	2,000,000	e	European Investment Bank		4.875		02/15/36		2,518
	38,470,000		Export Development Canada		0.875		01/30/17		38,587
	9,000,000		Export Development Canada		1.625		12/03/19		9,094
	18,175,000		Export-Import Bank of Korea		1.750		02/27/18		18,092
	15,000,000	g	Finnvera Oyj		2.375		06/04/25		14,827
	10,200,000	e	Hydro Quebec		1.375		06/19/17		10,287
	6,082,000		Hydro Quebec		8.400		01/15/22		8,051
	45,000,000		Inter-American Development Bank		1.185		07/09/18		45,235
	3,000,000		International Bank for Reconstruction & Development		2.000		10/20/16		3,048
	4,000,000		International Finance Corp		0.500		05/16/16		4,001
	29,000,000	g,i	International Finance Facility for Immunisation		0.515		07/05/16		29,002
	2,850,000		Italy Government International Bond		5.375		06/12/17		3,035
	5,000,000	e	KFW		1.000		01/26/18		5,010
	23,000,000		KFW		1.750		10/15/19		23,345
	11,500,000	e	KFW		1.500		04/20/20		11,500
	10,000,000		KFW		2.625		01/25/22		10,484
	12,500,000	g	Kommunalbanken AS.		2.125		02/11/25		12,234
	9,637,000	e	Landwirtschaftliche Rentenbank		2.000		01/13/25		9,442
	14,845,000		North American Development Bank		2.300		10/10/18		15,181
	34,575,000		North American Development Bank		2.400		10/26/22		34,253
	5,000,000		Province of British Columbia Canada		1.200		04/25/17		5,033
	15,250,000	e	Province of Manitoba Canada		1.750		05/30/19		15,348
	15,000,000	e	Province of Manitoba Canada		2.100		09/06/22		14,833
	12,700,000		Province of Manitoba Canada		3.050		05/14/24		13,154
	10,000,000		Province of New Brunswick Canada		2.750		06/15/18		10,397

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	9,500,000		Province of Ontario Canada		1.200	%	02/14/18	$	9,519
	5,000,000		Province of Ontario Canada		4.400		04/14/20		5,574
	10,000,000	e	Province of Quebec Canada		3.500		07/29/20		10,784
	5,000,000		Province of Quebec Canada		7.500		09/15/29		7,409
			TOTAL FOREIGN GOVERNMENT BONDS						509,102
MORTGAGE BACKED - 9.2%
	4,015,054		Federal Home Loan Mortgage Corp (FHLMC)		3.500		08/15/34		4,229
	4,711,845	i	FHLMC		0.817		07/15/37		4,790
	5,770,977	i	FHLMC		0.657		09/15/42		5,825
	11,063,163		FHLMC		3.000		09/15/42		11,208
	2,899,346	i	FHLMC		0.557		10/15/42		2,907
	8,672,475	i	FHLMC		0.557		07/15/45		8,699
	16,650		Federal Home Loan Mortgage Corp Gold (FGLMC)		6.500		12/01/16		17
	70,537		FGLMC		6.000		12/01/17		73
	70,616		FGLMC		7.000		10/01/20		75
	6,623		FGLMC		7.000		05/01/23		7
	9,000,000	h	FGLMC		3.500		10/15/30		9,491
	16,000,000	h	FGLMC		3.000		11/15/30		16,619
	22,756		FGLMC		8.000		01/01/31		26
	535,256		FGLMC		4.500		07/01/33		582
	949,423		FGLMC		5.500		09/01/33		1,073
	852,687		FGLMC		5.500		09/01/33		962
	1,365,434		FGLMC		5.500		12/01/33		1,523
	3,281,422		FGLMC		7.000		12/01/33		3,893
	1,162,626		FGLMC		7.000		05/01/35		1,380
	156,560		FGLMC		5.000		02/01/36		172
	2,311		FGLMC		6.500		05/01/36		3
	804,163		FGLMC		5.000		07/01/39		883
	3,503,072		FGLMC		4.500		11/01/40		3,881
	3,941,888		FGLMC		4.500		12/01/40		4,354
	7,315,360		FGLMC		3.500		04/01/44		7,689
	9,856,838		FGLMC		4.000		08/01/44		10,661
	8,357,651		FGLMC		4.000		09/01/44		9,055
	960,196		FGLMC		4.500		10/01/44		1,069
	1,422,741		FGLMC		4.500		11/01/44		1,584
	1,116,315		FGLMC		4.500		11/01/44		1,243
	888,827		FGLMC		4.500		12/01/44		990
	575,238		FGLMC		4.500		12/01/44		631
	3,961,800		FGLMC		3.500		04/01/45		4,154
	8,925,020		FGLMC		3.500		07/01/45		9,317
	15,078,924		FGLMC		3.500		09/01/45		15,713
	16,650,000	h	FGLMC		3.500		10/01/45		17,437
	10,000,000	h	FGLMC		3.000		10/15/45		10,110
	19,000,000	h	FGLMC		4.000		10/15/45		20,229
	11,565		Federal National Mortgage Association (FNMA)		8.000		03/01/23		12
	31,954		FNMA		8.000		07/01/24		38
	1,918,092	h	FNMA		3.000		01/01/30		2,000
	2,515,414	h	FNMA		3.000		06/01/30		2,624
	4,199,910	h	FNMA		3.000		07/01/30		4,381
	6,396,174		FNMA		2.500		08/01/30		6,529
	18,000,000	h	FNMA		2.500		10/25/30		18,356
	11,000,000	h	FNMA		3.000		10/25/30		11,456

360

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,000,000	h	FNMA		3.500	%	10/25/30	$	6,338
	16,000,000	h	FNMA		2.500		11/25/30		16,289
	435,542		FNMA		6.500		07/01/32		505
	219,603		FNMA		4.500		03/25/33		224
	3,829,424		FNMA		5.000		06/01/33		4,240
	8,343,959		FNMA		5.000		10/01/33		9,238
	4,500,000		FNMA		3.000		10/25/33		4,558
	481,429		FNMA		5.000		11/01/33		530
	83,944		FNMA		7.000		01/01/34		91
	2,147,566		FNMA		5.500		03/01/34		2,420
	8,468,124		FNMA		3.000		01/01/35		8,787
	6,999,425		FNMA		5.000		05/01/35		7,725
	4,474,920		FNMA		5.000		10/01/35		4,931
	1,686,090		FNMA		5.500		08/01/37		1,896
	799,254		FNMA		6.000		09/01/37		920
	811,505		FNMA		6.000		09/01/37		931
	235,040		FNMA		6.500		09/01/37		269
	903,786		FNMA		5.500		01/01/38		1,018
	18,376		FNMA		6.500		02/01/38		21
	3,727,984		FNMA		5.500		11/01/38		4,346
	5,812,787		FNMA		5.500		12/01/38		6,601
	35,126		FNMA		4.500		04/01/39		39
	446,426		FNMA		4.000		07/01/39		482
	1,975,356		FNMA		5.500		08/01/39		2,237
	787,542		FNMA		4.500		10/01/39		856
	70,889		FNMA		4.500		02/01/40		78
	867,413		FNMA		4.500		06/01/40		943
	728,407		FNMA		5.000		08/01/40		804
	3,530,010		FNMA		5.000		09/01/40		3,894
	674,112		FNMA		4.500		10/01/40		733
	149,745		FNMA		4.500		11/01/40		164
	1,309,472		FNMA		4.500		11/01/40		1,421
	1,885,879		FNMA		4.500		11/01/40		2,050
	280,937		FNMA		4.500		01/01/41		310
	232,178		FNMA		4.500		02/01/41		255
	5,273,310		FNMA		5.000		05/01/41		5,827
	241,411		FNMA		4.500		06/01/41		266
	262,575		FNMA		4.500		06/01/41		288
	998,242		FNMA		5.000		06/01/41		1,106
	6,741,989		FNMA		3.000		08/25/41		6,977
	3,045,847	h	FNMA		4.500		11/01/41		3,313
	453,679		FNMA		4.500		12/01/41		497
	15,682,849		FNMA		5.500		12/01/41		17,930
	265,785		FNMA		4.500		01/01/42		291
	2,401,947		FNMA		3.500		02/01/42		2,513
	272,192		FNMA		4.500		04/01/42		298
	3,058,703		FNMA		4.500		04/01/42		3,326
	317,964		FNMA		4.500		06/01/42		349
	247,206		FNMA		4.500		07/01/42		273
	6,757,368	i	FNMA		0.694		08/25/42		6,810
	11,471,202		FNMA		3.000		10/01/42		11,678
	207,070		FNMA		3.000		10/01/42		211
	211,397		FNMA		3.000		10/01/42		215

361

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	534,620		FNMA		3.000	%	11/01/42	$	544
	6,227,739	i	FNMA		0.594		11/25/42		6,229
	7,146,953		FNMA		3.500		11/25/42		1,339
	261,267		FNMA		3.000		12/01/42		265
	33,634		FNMA		3.000		12/01/42		34
	3,837,818		FNMA		3.000		01/01/43		3,903
	8,515,262		FNMA		3.000		01/01/43		8,662
	600,907		FNMA		3.000		02/01/43		611
	5,131,927		FNMA		3.000		02/01/43		5,221
	10,834,145		FNMA		3.000		02/01/43		11,021
	124,998		FNMA		3.000		02/01/43		127
	143,005		FNMA		3.000		03/01/43		145
	222,970		FNMA		3.000		03/01/43		227
	123,181		FNMA		3.000		03/01/43		125
	614,399		FNMA		3.000		03/01/43		624
	4,102,230	i	FNMA		0.544		03/25/43		4,099
	148,509		FNMA		3.000		04/01/43		151
	53,859		FNMA		3.000		04/01/43		55
	13,681		FNMA		3.000		04/01/43		14
	67,474		FNMA		3.000		04/01/43		69
	184,141		FNMA		3.000		04/01/43		187
	322,872		FNMA		3.000		04/01/43		328
	205,396		FNMA		3.000		04/01/43		209
	301,397		FNMA		3.000		04/01/43		307
	156,415		FNMA		3.000		04/01/43		159
	4,526,399		FNMA		3.000		05/01/43		4,594
	13,210,595		FNMA		4.000		11/01/43		14,339
	5,364,232		FNMA		4.000		04/01/44		5,790
	3,346,672		FNMA		4.000		06/01/44		3,612
	2,479,373		FNMA		4.000		06/01/44		2,675
	12,921,981		FNMA		4.500		06/01/44		14,323
	1,360,795		FNMA		4.500		06/01/44		1,509
	2,417,044		FNMA		4.000		07/01/44		2,608
	966,623		FNMA		4.000		07/01/44		1,043
	1,198,745		FNMA		4.000		08/01/44		1,294
	7,960,216		FNMA		4.000		08/01/44		8,589
	2,866,493		FNMA		4.000		08/01/44		3,093
	4,397,763		FNMA		4.000		08/01/44		4,745
	2,965,622		FNMA		4.500		08/01/44		3,287
	706,244		FNMA		4.000		09/01/44		762
	833,732		FNMA		4.000		09/01/44		900
	4,291,921		FNMA		4.000		10/01/44		4,630
	6,901,825		FNMA		4.500		10/01/44		7,651
	2,055,062	h	FNMA		3.500		11/01/44		2,150
	14,017,854		FNMA		4.500		11/01/44		15,536
	5,760,659		FNMA		4.000		12/01/44		6,216
	2,508,995		FNMA		4.000		12/01/44		2,717
	3,132,989		FNMA		4.000		12/01/44		3,391
	2,949,101		FNMA		4.500		12/01/44		3,269
	3,020,409		FNMA		4.000		01/01/45		3,259
	4,895,056		FNMA		3.500		02/01/45		5,121
	351,121		FNMA		3.500		03/01/45		369
	586,902		FNMA		3.500		03/01/45		613

362

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	848,414		FNMA		4.500	%	03/01/45	$	941
	911,704		FNMA		4.000		05/01/45		984
	2,034,672		FNMA		4.000		06/01/45		2,196
	15,000,000	h	FNMA		3.000		10/25/45		15,210
	30,000,000	h	FNMA		3.500		10/25/45		31,305
	22,000,000	h	FNMA		4.500		10/25/45		23,853
	6,000,000	h	FNMA		5.000		10/25/45		6,612
	21,000,000	h	FNMA		3.000		11/25/45		21,249
	32,000,000	h	FNMA		3.500		11/25/45		33,321
	46,000,000	h	FNMA		4.000		11/25/45		48,986
	30,000,000	h	FNMA		4.500		11/25/45		32,500
	51,000,000	h	FNMA		3.500		12/25/45		52,990
	13,000,000	h	FNMA		5.000		12/25/45		14,304
	6,958		Government National Mortgage Association (GNMA)		9.000		12/15/17		7
	3,893,403		GNMA		2.300		10/15/19		3,898
	7,776		GNMA		8.000		06/15/22		8
	21,026		GNMA		6.500		08/15/23		24
	8,179		GNMA		6.500		08/15/23		9
	6,938,758		GNMA		2.580		08/15/25		7,170
	100,545		GNMA		6.500		05/20/31		121
	8,984,605		GNMA		2.640		01/15/33		9,278
	12,574,039		GNMA		2.690		06/15/33		12,926
	235,528		GNMA		5.500		07/15/33		269
	10,000,000		GNMA		3.700		10/15/33		10,802
	135,973		GNMA		6.000		10/20/36		154
	143,545		GNMA		6.000		01/20/37		163
	531,200		GNMA		5.500		02/15/37		601
	779,717		GNMA		6.000		02/20/37		884
	348,963		GNMA		5.000		04/15/38		387
	259,578		GNMA		6.000		08/20/38		291
	545,549		GNMA		6.500		11/20/38		641
	503,818		GNMA		5.000		07/20/39		560
	4,825,782		GNMA		4.500		09/20/39		5,351
	8,847,757		GNMA		3.700		08/15/40		9,660
	18,806,875		GNMA		3.500		10/20/42		3,957
	4,383,380		GNMA		3.500		07/15/43		4,614
	1,036,746		GNMA		3.500		02/15/45		1,092
	4,932,129	h	GNMA		4.000		04/15/45		5,273
	3,509,275	h	GNMA		4.000		04/15/45		3,752
	5,245,812	h	GNMA		4.000		04/15/45		5,617
	10,923,246	h	GNMA		4.000		05/15/45		11,679
	29,000,000	h	GNMA		3.000		10/20/45		29,608
	45,000,000	h	GNMA		3.500		10/20/45		47,057
	17,000,000	h	GNMA		3.500		10/20/45		17,816
	33,000,000	h	GNMA		4.000		10/20/45		35,279
	22,000,000		GNMA		3.500		10/24/45		22,992
	37,000,000		GNMA		4.000		10/24/45		39,469
	29,000,000	h	GNMA		3.500		11/20/45		30,325
	31,000,000	h	GNMA		3.000		12/20/45		31,519
			TOTAL MORTGAGE BACKED						1,206,706
MUNICIPAL BONDS - 3.9%
	4,500,000	g	Basin Electric Power Coop		6.127		06/01/41		5,191

363

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,790,000		Bay Area Water Supply & Conservation Agency		2.535	%	10/01/21	$	3,832
	2,635,000		Bay Area Water Supply & Conservation Agency		3.015		10/01/24		2,657
	1,170,000		Brunswick & Glynn County Development Authority		3.060		04/01/25		1,164
	675,000		California Earthquake Authority		1.194		07/01/16		677
	7,465,000		California Earthquake Authority		2.805		07/01/19		7,602
	13,000,000		California Housing Finance Agency		2.966		08/01/22		13,090
	6,165,000	g	California Pollution Control Financing Authority		5.000		07/01/27		6,405
	8,020,000	g	California Pollution Control Financing Authority		5.000		07/01/37		8,274
	2,500,000	g	California Pollution Control Financing Authority		5.000		11/21/45		2,574
	3,700,000		Calleguas Municipal Water District		2.030		07/01/18		3,763
	1,250,000		City & County of Honolulu, HI		6.114		07/01/29		1,387
	8,850,000		City of Austin TX Water & Wastewater System Revenue		1.933		05/15/19		8,900
	2,750,000		City of Austin TX Water & Wastewater System Revenue		2.133		11/15/19		2,775
	6,500,000		City of Chicago IL		7.750		01/01/42		6,508
	7,280,000		City of Cincinnati OH Water System Revenue		2.568		12/01/21		7,515
	4,000,000		City of Dallas, TX		5.078		02/15/22		4,614
	700,000		City of Eugene, OR		6.320		08/01/22		811
	12,500,000		City of Houston TX Utility System Revenue		2.563		05/15/20		12,988
	10,095,000		City of Houston TX Utility System Revenue		2.923		05/15/21		10,592
	2,200,000		City of Jersey City NJ		1.509		09/01/16		2,210
	2,180,000		City of Jersey City NJ		1.829		09/01/17		2,183
	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		930
	1,000,000		Commonwealth Financing Authority		2.675		06/01/21		998
	1,150,000		Commonwealth Financing Authority		2.875		06/01/22		1,144
	2,310,000		Commonwealth Financing Authority		3.075		06/01/23		2,308
	15,000,000		Commonwealth of Massachusetts		5.000		08/01/33		17,310
	5,000,000		Commonwealth of Massachusetts		5.456		12/01/39		6,012
	755,000		County of Mercer, NJ		5.380		02/01/17		785
	23,500,000		District of Columbia Water & Sewer Authority		4.814		10/01/14		23,778
	3,525,000		Fiscal Year 2005 Securitization Corp		4.760		08/15/19		3,824
	15,630,000	j	Garden State Preservation Trust		0.000		11/01/22		13,166
	1,000,000		Grant County Public Utility District No 2		5.470		01/01/34		1,083
	1,250,000		Grant County Public Utility District No 2		4.164		01/01/35		1,242
	4,135,000		Greene County OH		2.720		12/01/21		4,181
	4,365,000		Greene County OH		3.120		12/01/23		4,404
	4,615,000		Greene County OH		3.270		12/01/24		4,639
	4,755,000		Greene County OH		3.420		12/01/25		4,770
	1,700,000		Guadalupe Valley Electric Coop, Inc		5.671		10/01/32		1,872
	975,000		Guadalupe-Blanco River Authority Industrial Development Corp		3.287		04/15/23		995
	540,000		Lavaca-Navidad River Authority		3.850		08/01/26		548
	6,430,000		Lavaca-Navidad River Authority		4.430		08/01/35		6,340
	4,600,000		Massachusetts Housing Finance Agency		4.782		12/01/20		4,729
	5,400,000		Massachusetts St. Water Pollution Abatement		5.192		08/01/40		6,252
	3,500,000		Metropolitan Council		1.750		09/01/20		3,509
	3,000,000		Metropolitan Washington Airports Authority		5.690		10/01/30		3,000
	5,000,000		Metropolitan Water District of Southern California		6.250		07/01/39		5,595
	750,000		Metropolitan Water Reclamation District of Greater Chicago		2.229		12/01/16		760
	1,590,000		Michigan Finance Authority		5.000		07/01/16		1,636
	8,945,000		Michigan Finance Authority		5.000		07/01/22		10,324
	8,000,000		Michigan Finance Authority		5.000		07/01/22		9,212
	500,000		Michigan Finance Authority		5.000		07/01/22		566

364

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	515,000		Michigan Finance Authority		5.000	%	07/01/29	$	559
	2,500,000		Michigan Finance Authority		5.000		07/01/30		2,696
	2,000,000		Michigan Finance Authority		5.000		07/01/31		2,146
	1,590,000		New York State Energy Research & Development Authority		2.372		07/01/19		1,625
	1,285,000		New York State Energy Research & Development Authority		2.772		07/01/20		1,328
	1,590,000		New York State Energy Research & Development Authority		3.206		07/01/22		1,677
	1,200,000		New York State Environmental Facilities Corp		2.005		06/15/19		1,206
	1,220,000		New York State Environmental Facilities Corp		2.595		06/15/21		1,241
	1,255,000		New York State Environmental Facilities Corp		3.045		06/15/24		1,282
	1,225,000		New York State Environmental Facilities Corp		3.195		06/15/25		1,247
	2,120,000		New York State Environmental Facilities Corp		3.520		07/15/27		2,171
	500,000		New York State Environmental Facilities Corp		3.684		12/15/29		496
	800,000		New York State Environmental Facilities Corp		5.807		06/15/39		1,022
	2,475,000		New York State Urban Development Corp		6.500		12/15/18		2,715
	2,230,000		Newport News Economic Development Authority		5.640		01/15/29		2,258
	270,000		Newport News Economic Development Authority		5.640		01/15/29		272
	1,250,000	g	Niagara Area Development Corp		4.000		11/01/24		1,258
	4,750,000		Northern California Power Agency		4.320		07/01/24		5,126
	2,450,000		Ohio State Water Development Authority		4.879		12/01/34		2,750
	6,500,000	i	Ohio State Water Development Authority		0.381		05/01/38		6,500
	700,000		Oklahoma Water Resources Board		3.071		04/01/22		734
	1,220,000		Pend Oreille County Public Utility District No  Box Canyon		1.987		01/01/16		1,226
	1,000,000		Pend Oreille County Public Utility District No  Box Canyon		2.417		01/01/17		1,017
	1,000,000		Pend Oreille County Public Utility District No  Box Canyon		2.787		01/01/18		1,028
	1,000,000		Pend Oreille County Public Utility District No  Box Canyon		3.037		01/01/19		1,043
	1,070,000		Pend Oreille County Public Utility District No  Box Canyon		3.621		01/01/21		1,126
	1,000,000		South Dakota Conservancy District		1.620		08/01/18		1,008
	3,330,000		South Dakota Conservancy District		1.648		08/01/18		3,389
	2,920,000		South Dakota Conservancy District		1.898		08/01/19		2,969
	38,830,000		State of California		3.750		10/01/37		39,363
	7,050,000		State of California		4.988		04/01/39		7,387
	5,000,000		State of Connecticut		5.090		10/01/30		5,542
	5,570,000		State of Illinois		4.350		06/01/18		5,700
	9,000,000		State of Illinois		5.520		04/01/38		7,993
	4,505,000		State of Michigan		3.375		12/01/20		4,838
	4,405,000		State of Michigan		3.590		12/01/26		4,539
	2,500,000		State of Ohio		5.412		09/01/28		2,999
	3,265,000		State of Texas		4.900		08/01/20		3,274
	5,000,000		State of Texas		6.072		10/01/29		5,693
	2,025,000		State of Texas		3.576		08/01/34		1,943
	3,370,000		State of Texas		3.726		08/01/43		3,291
	1,985,000		State of Washington		5.050		01/01/18		1,989
	3,000		State of Wisconsin		5.700		05/01/26		4
	18,480,000		Suffolk County Water Authority		3.500		06/01/39		18,391
	2,280,000		Tampa Bay Water		2.612		10/01/25		2,259
	3,225,000		Tampa Bay Water		2.782		10/01/26		3,173
	3,000,000		Tampa Bay Water		2.952		10/01/27		2,922
	5,000,000		Tuolumne Wind Project Authority		6.918		01/01/34		6,124
	3,035,000		University of California		3.809		05/15/28		3,093

365

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	11,400,000		University of California		4.009	%	05/15/30	$	11,507
	6,500,000	i	University of California		0.697		07/01/41		6,499
	1,000,000		University of Cincinnati		3.250		06/01/29		999
	1,560,000		University of Cincinnati		3.650		06/01/34		1,560
	1,615,000		University of Cincinnati		3.700		06/01/35		1,615
	18,000,000		University of New Mexico		3.532		06/20/32		17,962
	17,500,000		University of Virginia		3.570		04/01/45		17,528
	1,000,000		Washington County Clean Water Services		5.078		10/01/24		1,183
	600,000		West Virginia Water Development Authority		5.000		11/01/21		703
	1,345,000		West Virginia Water Development Authority		5.000		11/01/22		1,592
	1,000,000		West Virginia Water Development Authority		5.000		11/01/23		1,193
			TOTAL MUNICIPAL BONDS						508,099
U.S. TREASURY SECURITIES - 2.3%
	6,000,000		United States Treasury Bond		3.125		02/15/43		6,287
	50,000,000		United States Treasury Bond		2.875		05/15/43		49,863
	1,000,000		United States Treasury Bond		3.375		05/15/44		1,098
	39,165,000		United States Treasury Bond		3.000		05/15/45		40,109
	7,565,000		United States Treasury Note		0.250		12/31/15		7,568
	2,000,000		United States Treasury Note		0.625		07/15/16		2,005
	2,200,000		United States Treasury Note		0.500		11/30/16		2,201
	4,890,000		United States Treasury Note		0.500		02/28/17		4,890
	8,500,000		United States Treasury Note		0.625		08/31/17		8,500
	34,805,000		United States Treasury Note		1.000		09/15/18		34,887
	1,030,000		United States Treasury Note		1.625		04/30/19		1,049
	62,865,000		United States Treasury Note		1.375		09/30/20		62,855
	4,150,000		United States Treasury Note		2.000		07/31/22		4,222
	4,500,000		United States Treasury Note		1.750		09/30/22		4,498
	12,234,500		United States Treasury Note		1.625		11/15/22		12,119
	56,555,000		United States Treasury Note		2.000		08/15/25		56,283
			TOTAL U.S. TREASURY SECURITIES						298,434
			TOTAL GOVERNMENT BONDS						3,141,641
			(Cost $3,073,872)
STRUCTURED ASSETS - 3.5%
ASSET BACKED - 1.6%
	7,708,611	g	Alterna Funding I LLC		1.639		02/15/21		7,682
			Series - 2014 1A (Class NOTE)
	884,749	i	Asset Backed Securities Corp Home Equity Loan Trust		0.635		07/25/35		880
			Series - 2005 HE7 (Class M2)
	4,965,277	i	Asset-Backed Pass-Through Certificates		1.036		01/25/35		4,743
			Series - 2004 R12 (Class M1)
	4,500,000	g	Avis Budget Rental Car Funding AESOP LLC		5.110		03/20/17		4,544
			Series - 2010 5A (Class B)
	4,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.780		02/20/18		4,043
			Series - 2011 5A (Class C)
	4,000,000	g	Avis Budget Rental Car Funding AESOP LLC		4.720		02/20/18		4,139
			Series - 2011 5A (Class B)
	925,000	i	Basic Asset Backed Securities Trust		0.504		04/25/36		822
			Series - 2006 1 (Class A3)
	182,633	i	Bear Stearns Asset Backed Securities Trust		0.934		11/25/39		182
			Series - 2005 SD3 (Class 2A1)
	4,000,000	g	Capital Automotive REIT		3.660		10/15/44		4,069
			Series - 2014 1A (Class A)

366

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	4,001,302	i	Chase Funding Loan Acquisition Trust		1.049	%	06/25/34	$	3,661
			Series - 2004 OPT1 (Class M1)
	7,465,735	i	Connecticut Avenue Securities		1.694		02/25/25		7,483
			Series - 2015 C01 (Class 1M1)
	5,970,000	g	DB Master Finance LLC		3.262		02/20/45		6,005
			Series - 2015 1A (Class A2I)
	1,715,000	g,i	DB/UBS Mortgage Trust		5.735		11/10/46		1,912
			Series - 2011 LC1A (Class C)
	12,561,250	g	Dominos Pizza Master Issuer LLC		5.216		01/25/42		12,938
			Series - 2012 1A (Class A2)
	20,486,915	g	HERO Funding Trust		3.840		09/21/40		20,519
			Series - 2015 1A (Class A)
	4,012,513	g	HERO Funding Trust		3.990		09/21/40		4,063
			Series - 2014 2A (Class A)
	500,000	g	Hertz Vehicle Financing LLC		6.440		02/25/19		548
			Series - 2010 1A (Class B3)
	1,539,733	i	Lehman XS Trust		0.444		02/25/36		1,469
			Series - 2006 1 (Class 1A1)
	4,381,273	i	Lehman XS Trust		6.500		06/25/46		3,383
			Series - 2006 13 (Class 2A1)
	922,124	i	Park Place Securities, Inc Asset-Backed Pass-Through Certificates		0.974		01/25/36		916
			Series - 2005 WCH1 (Class M2)
	238,370	i	Residential Asset Mortgage Products, Inc		5.470		09/25/33		245
			Series - 2003 RZ5 (Class A7)
	96,539	i	Residential Asset Securities Corp		0.839		04/25/35		97
			Series - 2005 KS3 (Class M3)
	326,556	i	Residential Funding Mortgage Securities II, Inc		6.010		02/25/36		327
			Series - 2006 HI1 (Class M1)
	200,000	i	Residential Funding Mortgage Securities II, Inc		6.060		02/25/36		206
			Series - 2006 HI1 (Class M2)
	3,800,000		Santander Drive Auto Receivables Trust		1.760		01/15/19		3,809
			Series - 2013 1 (Class C)
	374,553	i	Securitized Asset Backed Receivables LLC		0.494		10/25/35		371
			Series - 2006 OP1 (Class A2C)
	1,491,682	g	Sierra Receivables Funding Co LLC		3.420		03/20/29		1,512
			Series - 2012 2A (Class B)
	1,161,861	g	Sierra Receivables Funding Co LLC		1.590		11/20/29		1,153
			Series - 2013 1A (Class A)
	6,514,586	g	SolarCity LMC		4.590		04/20/44		6,642
			Series - 2014 1 (Class A)
	29,320,318	g	SolarCity LMC		4.020		07/20/44		28,894
			Series - 2014 2 (Class A)
	219,276	i	Soundview Home Equity Loan Trust		0.494		11/25/35		218
			Series - 2005 OPT3 (Class A4)
	11,038,243	g	SpringCastle America Funding LLC		2.700		05/25/23		11,053
			Series - 2014 AA (Class A)
	5,781,201	i	Structured Asset Securities Corp Mortgage Loan Trust		1.699		04/25/35		5,494
			Series - 2005 7XS (Class 2A1A)
	22,500,000		Toyota Auto Receivables Owner Trust		1.270		05/15/19		22,525
			Series - 2015 B (Class A3)
	22,500,000		Toyota Auto Receivables Owner Trust		1.740		09/15/20		22,740
			Series - 2015 B (Class A4)
	503,045	g,m	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		512
			Series - 2006 N1 (Class N1)

367

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	597,683	g,i	Wachovia Loan Trust		0.554	%	05/25/35	$	581
			Series - 2005 SD1 (Class A)
	108,801	i	Wells Fargo Home Equity Trust		0.334		07/25/36		109
			Series - 2006 2 (Class A3)
	4,000,000	g	Wendys Funding LLC		3.371		06/15/45		4,019
			Series - 2015 1A (Class A2I)
			TOTAL ASSET BACKED						204,508
OTHER MORTGAGE BACKED - 1.9%
	1,800,000		Banc of America Commercial Mortgage Trust		5.480		10/10/45		1,803
			Series - 2006 6 (Class B)
	3,050,000	g	Banc of America Commercial Mortgage Trust		5.416		01/15/49		3,157
			Series - 2007 1 (Class AM)
	5,416,386	i	Banc of America Commercial Mortgage Trust		5.482		01/15/49		5,614
			Series - 2007 1 (Class AMFX)
	760,000	i	Banc of America Commercial Mortgage Trust		5.809		02/10/51		783
			Series - 2007 4 (Class AJ)
	6,000,000	g	BBCMS Trust		3.593		09/15/32		6,259
			Series - 2015 MSQ (Class A)
	6,000,000	g,i	BBCMS Trust		3.894		09/15/32		6,261
			Series - 2015 MSQ (Class B)
	2,590,000	i	Bear Stearns Commercial Mortgage Securities		6.116		09/11/42		2,740
			Series - 2007 T28 (Class AJ)
	2,500,000	i	Bear Stearns Commercial Mortgage Securities		5.878		06/11/50		2,561
			Series - 2007 PW17 (Class AJ)
	1,225,000	i	Citigroup Commercial Mortgage Trust		5.975		03/15/49		1,245
			Series - 2006 C4 (Class AJ)
	3,925,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		4,004
			Series - 2007 C3 (Class AJ)
	2,575,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		2,735
			Series - 2007 C3 (Class AM)
	2,750,000	i	COBALT CMBS Commercial Mortgage Trust		5.526		04/15/47		2,899
			Series - 2007 C2 (Class AMFX)
	3,500,000	g,i	COMM 2007-C9 Mortgage Trust		5.989		12/10/49		3,451
			Series - 2007 C9 (Class G)
	4,000,000	i	COMM Mortgage Trust		5.796		12/10/49		4,154
			Series - 2007 C9 (Class B)
	4,765,000	i	Commercial Mortgage Trust		5.238		04/10/37		4,762
			Series - 2005 GG5 (Class AJ)
	6,317,426	i	Commercial Mortgage Trust		5.867		12/10/49		6,672
			Series - 2007 GG11 (Class AM)
	610,485		Countrywide Alternative Loan Trust		5.500		08/25/16		618
			Series - 2004 30CB (Class 1A15)
	2,775,000	i	Credit Suisse Commercial Mortgage Trust		5.903		09/15/39		2,841
			Series - 2007 C4 (Class A1AJ)
	6,000,000	i	Credit Suisse Commercial Mortgage Trust		5.949		09/15/39		6,153
			Series - 2007 C4 (Class AJ)
	1,500,000		Credit Suisse Commercial Mortgage Trust		5.343		12/15/39		1,558
			Series - 2006 C5 (Class AM)
	3,500,000	g	Credit Suisse Commercial Mortgage Trust		5.383		02/15/40		3,596
			Series - 2009 RR1 (Class A3C)
	8,450,000	i	Credit Suisse Commercial Mortgage Trust		5.625		01/15/49		8,706
			Series - 2007 C2 (Class AJ)

368

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	280,000	i	Credit Suisse First Boston Mortgage Securities Corp		5.100	%	08/15/38	$	280
			Series - 2005 C5 (Class C)
	3,500,000	i	Credit Suisse First Boston Mortgage Securities Corp		5.230		12/15/40		3,504
			Series - 2005 C6 (Class B)
	2,000,000	g	Credit Suisse Mortgage Capital Certificates		5.626		05/15/23		2,258
			Series - 2006 OMA (Class D)
	500,000	i	GE Commercial Mortgage Corp		5.606		12/10/49		519
			Series - 2007 C1 (Class AM)
	3,660,000	i	GMAC Commercial Mortgage Securities, Inc		4.984		12/10/41		3,766
			Series - 2004 C3 (Class C)
	2,535,000	g,i	GS Mortgage Securities Corp II		5.359		12/10/43		2,820
			Series - 2010 C2 (Class B)
	1,500,000	i	GS Mortgage Securities Trust		5.553		04/10/38		1,504
			Series - 2006 GG6 (Class B)
	1,750,000	i	GS Mortgage Securities Trust		5.629		04/10/38		1,749
			Series - 2006 GG6 (Class C)
	1,335,700	i	Harborview Mortgage Loan Trust		0.436		07/19/47		1,090
			Series - 2007 4 (Class 2A1)
	746,903	i	Impac CMB Trust		0.854		03/25/35		697
			Series - 2004 11 (Class 2A1)
	3,780,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.911		07/15/42		3,789
			Series - 2005 LDP2 (Class C)
	2,000,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.734		02/15/46		2,118
			Series - 2011 C3 (Class E)
	3,025,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.457		07/15/46		3,292
			Series - 2011 C4 (Class C)
	5,052,152		JP Morgan Chase Commercial Mortgage Securities Trust		5.257		05/15/47		5,192
			Series - 2006 LDP9 (Class A1A)
	2,639,215	i	JP Morgan Chase Commercial Mortgage Securities Trust		6.192		02/15/51		2,812
			Series - 2007 LD12 (Class AM)
	1,500,000	i	LB-UBS Commercial Mortgage Trust		5.737		03/15/39		1,497
			Series - 2006 C3 (Class C)
	2,500,000		LB-UBS Commercial Mortgage Trust		5.484		02/15/40		2,570
			Series - 2007 C1 (Class AJ)
	700,000	i	LB-UBS Commercial Mortgage Trust		5.533		02/15/40		708
			Series - 2007 C1 (Class C)
	3,390,000	i	LB-UBS Commercial Mortgage Trust		5.563		02/15/40		3,356
			Series - 2007 C1 (Class D)
	750,000	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		796
			Series - 2007 C6 (Class AM)
	8,546,590	g,i	LVII Resecuritization Trust		2.997		07/31/47		8,547
			Series - 2015 A (Class A)
	645,000	i	Merrill Lynch Mortgage Trust		6.475		02/12/51		694
			Series - 0 C1 (Class AJA)
	2,750,000	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		2,831
			Series - 2007 6 (Class AM)
	855,000	g,i	Morgan Stanley Capital I Trust		6.017		08/12/41		874
			Series - 2006 T23 (Class B)
	3,000,000	i	Morgan Stanley Capital I Trust		5.389		11/12/41		3,058
			Series - 2006 HQ10 (Class AJ)
	2,111,000	i	Morgan Stanley Capital I Trust		5.834		10/15/42		2,152
			Series - 2006 IQ11 (Class AJ)

369

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	710,000	g,i	Morgan Stanley Capital I Trust		5.564	%	09/15/47	$	760
			Series - 2011 C1 (Class D)
	6,000,000	i	Morgan Stanley Capital I Trust		5.861		04/12/49		6,106
			Series - 2007 HQ12 (Class C)
	1,600,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		1,604
			Series - 2007 IQ15 (Class AJ)
	9,500,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		10,077
			Series - 2007 IQ15 (Class AM)
	4,000,000	i	Morgan Stanley Capital I Trust		6.319		12/12/49		3,818
			Series - 2007 IQ16 (Class AJFX)
	17,385,000	g	OBP Depositor LLC Trust		4.646		07/15/45		19,252
			Series - 2010 OBP (Class A)
	72,758		Residential Accredit Loans, Inc		4.350		03/25/34		73
			Series - 2004 QS4 (Class A1)
	2,678,906	i	Structured Agency Credit Risk Debt Note (STACR)		1.444		01/25/25		2,679
			Series - 2015 DN1 (Class M1)
	7,375,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.594		01/25/25		7,464
			Series - 2015 DN1 (Class M2)
	10,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.394		03/25/25		10,000
			Series - 2015 HQ1 (Class M2)
	750,000	i	Structured Agency Credit Risk Debt Note (STACR)		3.994		03/25/25		728
			Series - 2015 HQ1 (Class M3)
	5,000,000	g,i	Wachovia Bank Commercial Mortgage Trust		0.407		12/15/43		4,848
			Series - 2007 C30 (Class AMFL)
	4,585,000		Wachovia Bank Commercial Mortgage Trust		5.383		12/15/43		4,766
			Series - 2007 C30 (Class AM)
	890,000	i	Wachovia Bank Commercial Mortgage Trust		5.818		05/15/46		949
			Series - 2007 C34 (Class AM)
	1,700,000	i	Wachovia Bank Commercial Mortgage Trust		6.143		05/15/46		1,759
			Series - 2007 C34 (Class AJ)
	1,975,000	i	Wachovia Bank Commercial Mortgage Trust		5.591		04/15/47		2,076
			Series - 2007 C31 (Class AM)
	1,500,000	i	Wachovia Bank Commercial Mortgage Trust		5.660		04/15/47		1,527
			Series - 2007 C31 (Class AJ)
	1,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.700		04/15/47		996
			Series - 2007 C31 (Class B)
	700,000	i	Wachovia Bank Commercial Mortgage Trust		5.860		04/15/47		681
			Series - 2007 C31 (Class C)
	4,000,000	g	Wachovia Bank Commercial Mortgage Trust		5.703		06/15/49		4,215
			Series - 2007 C32 (Class AMFX)
	875,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		854
			Series - 2007 C32 (Class B)
	12,830,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		13,149
			Series - 2007 C32 (Class AJ)
	510,000	i	Wachovia Bank Commercial Mortgage Trust		5.953		02/15/51		544
			Series - 2007 C33 (Class AM)
	6,201,962	i	WaMu Mortgage Pass-Through Certificates		0.624		10/25/45		5,575
			Series - 2005 AR13 (Class A1B2)
	2,280,851	i	WaMu Mortgage Pass-Through Certificates		0.544		12/25/45		2,030
			Series - 2005 AR19 (Class A1B3)
			TOTAL OTHER MORTGAGE BACKED						251,575
			TOTAL STRUCTURED ASSETS						456,083
			(Cost $454,791)
			TOTAL BONDS						5,147,926
			(Cost $5,080,606)

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 58.7%
AUTOMOBILES & COMPONENTS - 1.6%
	66,500		Aisin Seiki Co Ltd	$	2,231
	159,826		Bayerische Motoren Werke AG.		13,944
	58,860		Bayerische Motoren Werke AG. (Preference)		4,048
	2,283		Delphi Automotive plc		174
	287,282		Denso Corp		12,169
	2,779,908		Ford Motor Co		37,723
	315,803		Fuji Heavy Industries Ltd		11,364
	1,026,012		GKN plc		4,168
	234,290		Harley-Davidson, Inc		12,862
	617,680		Honda Motor Co Ltd		18,436
	682,420		Johnson Controls, Inc		28,225
	136,815		Magna International, Inc (Class A)		6,562
	460,400		Mazda Motor Corp		7,275
	539,600		Mitsubishi Motors Corp		4,127
	59,514	*	Modine Manufacturing Co		468
	1,537,800		Nissan Motor Co Ltd		14,139
	164,930		Renault S.A.		11,900
	9,200		Stanley Electric Co Ltd		184
	162,100		Sumitomo Electric Industries Ltd		2,074
	98,889	*,e	Tesla Motors, Inc		24,564
	98,500		Toyota Industries Corp		4,686
	96,100		Yamaha Motor Co Ltd		1,933
			TOTAL AUTOMOBILES & COMPONENTS		223,256
BANKS - 4.0%
	4,579		Ameris Bancorp		132
	18,981		Apollo Residential Mortgage		240
	1,165		Arrow Financial Corp		31
	51,058		Associated Banc-Corp		918
	4,424		Astoria Financial Corp		71
	1,050,547		Australia & New Zealand Banking Group Ltd		20,072
	4,862,579		Banca Intesa S.p.A.		17,178
	403,382		Banca Intesa S.p.A. RSP		1,300
	2,159,479		Banco Bilbao Vizcaya Argentaria S.A.		18,260
	930,596		Bank Hapoalim Ltd		4,683
	38,983		Bank Mutual Corp		299
	25,289	e	Bank of Hawaii Corp		1,606
	96,962		Bank of Montreal		5,288
	407,320		Bank of Nova Scotia		17,956
	3,264		Bank of the Ozarks, Inc		143
	14,955		Banner Corp		714
	958,807		BB&T Corp		34,134
	23,015		BBCN Bancorp, Inc		346

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	326		Bendigo Bank Ltd	$	2
	1,202	*	Beneficial Bancorp, Inc		16
	17,633		Berkshire Hills Bancorp, Inc		486
	3,481	e	BOK Financial Corp		225
	43,413		Boston Private Financial Holdings, Inc		508
	9,648		Brookline Bancorp, Inc		98
	10,759	*,m	CaixaBank S.A.		42
	2,735		Camden National Corp		110
	5,386	e	Canadian Imperial Bank of Commerce/Canada		387
	28,343	*	Capital Bank Financial Corp		857
	7,221		Capitol Federal Financial		88
	5,264		Cardinal Financial Corp		121
	3,360		Cathay General Bancorp		101
	27,540		Centerstate Banks of Florida, Inc		405
	148,485		CIT Group, Inc		5,944
	17,464		CoBiz, Inc		227
	2,120		Columbia Banking System, Inc		66
	164,058		Comerica, Inc		6,743
	37,782		Commerce Bancshares, Inc		1,721
	461,890		Commonwealth Bank of Australia		23,708
	3,936		Community Bank System, Inc		146
	1,022,067		Criteria CaixaBank S.A.		3,944
	9,127		Cullen/Frost Bankers, Inc		580
	33,233	*	Customers Bancorp, Inc		854
	66,300		DBS Group Holdings Ltd		757
	66,896		DNB NOR Holding ASA		871
	10,051		East West Bancorp, Inc		386
	32,983	*	FCB Financial Holdings, Inc		1,076
	14,531		Federal Agricultural Mortgage Corp (Class C)		377
	5,021		First Bancorp (NC)		85
	451		First Citizens Bancshares, Inc (Class A)		102
	82,277		First Commonwealth Financial Corp		748
	2,793		First Community Bancshares, Inc		50
	6,726		First Financial Bancorp		128
	18,814	e	First Financial Bankshares, Inc		598
	24,484		First Interstate Bancsystem, Inc		682
	15,572		First Merchants Corp		408
	235,971		First Niagara Financial Group, Inc		2,409
	16,186		FNB Corp		210
	2,590		Glacier Bancorp, Inc		68
	2,960		Great Southern Bancorp, Inc		128
	5,441		Hancock Holding Co		147
	553,500		Hang Seng Bank Ltd		9,984
	16,889		Heartland Financial USA, Inc		613
	5,270		Heritage Financial Corp		99
	16,335		HomeStreet, Inc		377
	25,514	*	HomeTrust Bancshares, Inc		473
	4,726,500		HSBC Holdings plc		35,655
	9,593		IBERIABANK Corp		558
	4,148		Independent Bank Corp (MA)		191
	1,147		International Bancshares Corp		29
	20,614		Investors Bancorp, Inc		254

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	209,613		KBC Groep NV	$	13,256
	1,087,506		Keycorp		14,148
	21,058		Lakeland Bancorp, Inc		234
	170,095	e	M&T Bank Corp		20,743
	1,800		MB Financial, Inc		59
	61,360	*	MGIC Investment Corp		568
	597,000		Mitsui Trust Holdings, Inc		2,188
	6,775,800		Mizuho Financial Group, Inc		12,675
	927,973		National Australia Bank Ltd		19,639
	30,802		National Bank Holdings Corp		632
	68,401		National Penn Bancshares, Inc		804
	996,789		Natixis		5,519
	1,500		NBT Bancorp, Inc		40
	145,456	e	New York Community Bancorp, Inc		2,627
	1,196,417		Nordea Bank AB		13,348
	11,094		Northfield Bancorp, Inc		169
	57,600	e	OFG Bancorp		503
	19,938		Old National Bancorp		278
	6,303		Opus Bank		241
	22,911		PacWest Bancorp		981
	6,688		Peoples Bancorp, Inc		139
	2,728		People’s United Financial, Inc		43
	7,054		Pinnacle Financial Partners, Inc		349
	423,770		PNC Financial Services Group, Inc		37,800
	130,498		Popular, Inc		3,945
	20,422		PrivateBancorp, Inc		783
	53,363		Provident Financial Services, Inc		1,041
	244,880		Radian Group, Inc		3,896
	4,579		Renasant Corp		150
	162,700		Resona Holdings, Inc		829
	280,979	e	Royal Bank of Canada (Toronto)		15,536
	1,000		S&T Bancorp, Inc		33
	3,487	*	Signature Bank		480
	183,355		Skandinaviska Enskilda Banken AB (Class A)		1,961
	10,441	e	Southside Bancshares, Inc		288
	1,073,262		Standard Chartered plc		10,416
	7,477		State Bank & Trust Co		155
	1,445		Stock Yards Bancorp, Inc		53
	474,500		Sumitomo Mitsui Financial Group, Inc		17,993
	28,454	*	SVB Financial Group		3,288
	47,558		Swedbank AB (A Shares)		1,052
	800	*	Texas Capital Bancshares, Inc		42
	41,386	*	The Bancorp, Inc		315
	560,198		Toronto-Dominion Bank		22,080
	4,770	*	Tristate Capital Holdings, Inc		59
	1,700		Trustmark Corp		39
	9,733		UMB Financial Corp		495
	35,151		Umpqua Holdings Corp		573
	2,479		Union Bankshares Corp		60
	10,908	e	United Bankshares, Inc		414
	5,569		United Financial Bancorp, Inc (New)		73
	1,053,198		US Bancorp		43,192

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	2,877	*	Walker & Dunlop, Inc	$	75
	13,956		Webster Financial Corp		497
	3,652		WesBanco, Inc		115
	5,233	e	Westamerica Bancorporation		233
	50,433	*	Western Alliance Bancorp		1,549
	1,000,684		Westpac Banking Corp		21,021
	32,346		Wilshire Bancorp, Inc		340
	1,110		Wintrust Financial Corp		59
	37,356		Zions Bancorporation		1,029
			TOTAL BANKS		529,355
CAPITAL GOODS - 4.0%
	333,306		3M Co		47,253
	6,541		A.O. Smith Corp		426
	9,110	e	Advanced Drainage Systems, Inc		264
	75,930		Alfa Laval AB		1,243
	1,796		American Science & Engineering, Inc		64
	310,304		Ametek, Inc		16,235
	4,886		Argan, Inc		169
	44,954	*	ArvinMeritor, Inc		478
	368,000		Asahi Glass Co Ltd		2,150
	134,798		Assa Abloy AB		2,418
	152,698	*	Atlas Copco AB (A Shares)		3,672
	242,593	*	Atlas Copco AB (B Shares)		5,426
	102,199		Barnes Group, Inc		3,684
	2,120	*	Beacon Roofing Supply, Inc		69
	107,493		Bouygues S.A.		3,815
	29,997		Briggs & Stratton Corp		579
	116,374	*	Builders FirstSource, Inc		1,476
	236,170		Bunzl plc		6,337
	21,744	*	CAI International, Inc		219
	209,354	e	Caterpillar, Inc		13,683
	818	e	Chicago Bridge & Iron Co NV		32
	815,979		CNH Industrial NV		5,319
	321,931		Compagnie de Saint-Gobain		13,972
	196,231		Cummins, Inc		21,307
	47,600		Daikin Industries Ltd		2,670
	473,135		Danaher Corp		40,316
	276,872	e	Deere & Co		20,489
	925		Dover Corp		53
	343,966		Eaton Corp		17,645
	4,941		EMCOR Group, Inc		219
	4,487		EnerSys		240
	16,496	*,e	Enphase Energy, Inc		61
	19,159	*	Esterline Technologies Corp		1,377
	152,130	e	Fastenal Co		5,569
	96,744		Ferrovial S.A.		2,314
	215		Flowserve Corp		9
	558		Fluor Corp		24
	41,392	*	Furmanite Corp		252
	21,626		GEA Group AG.		825
	21,073		Geberit AG.		6,447

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	20,413		H&E Equipment Services, Inc	$	341
	62,217		Hexcel Corp		2,791
	164,600		Hino Motors Ltd		1,677
	83,600	e	Hitachi Construction Machinery Co Ltd		1,120
	363,611		Illinois Tool Works, Inc		29,929
	134,981		Ingersoll-Rand plc		6,853
	500	*	Jacobs Engineering Group, Inc		19
	96,000	e	Kawasaki Heavy Industries Ltd		331
	1,244,870		Keppel Corp Ltd		5,954
	26,450	*,e	KEYW Holding Corp		163
	659,800		Komatsu Ltd		9,685
	373,612		Koninklijke Philips Electronics NV		8,790
	374,000		Kubota Corp		5,147
	25,552		Legrand S.A.		1,359
	676		Lincoln Electric Holdings, Inc		35
	448,795		Masco Corp		11,301
	121,857		Meggitt plc		879
	1,101	*	Middleby Corp		116
	837,100		Mitsubishi Corp		13,721
	794,000		Mitsubishi Electric Corp		7,273
	6,490	*	MYR Group, Inc		170
	83,000		NGK Insulators Ltd		1,588
	60,092		Nordson Corp		3,782
	89,400		NSK Ltd		867
	150,887		Owens Corning, Inc		6,324
	287,650		Paccar, Inc		15,007
	35,585		Parker Hannifin Corp		3,462
	105,679		Pentair plc		5,394
	127,194	*,e	Plug Power, Inc		233
	151,453		Precision Castparts Corp		34,790
	118,919	*	Quanta Services, Inc		2,879
	94,188		Rexel S.A.		1,160
	30,501		Rockwell Automation, Inc		3,095
	95,612		Rockwell Collins, Inc		7,825
	36,922		Roper Industries, Inc		5,786
	9,907	*	Rush Enterprises, Inc (Class A)		240
	238,948		Sandvik AB		2,035
	246,179		Schneider Electric S.A.		13,786
	84,000		Shimizu Corp		721
	43,110		Skanska AB (B Shares)		846
	42,500		SKF AB (B Shares)		781
	148,101		Smiths Group plc		2,257
	153		Snap-On, Inc		23
	22,131		Sulzer AG.		2,169
	988,600	*	Sumitomo Corp		9,560
	5,435		TAL International Group, Inc		74
	32,814		Tennant Co		1,844
	8,405	*,e	Titan Machinery, Inc		97
	72,400		Toyota Tsusho Corp		1,526
	45,231		Travis Perkins plc		1,349
	39,931	*	United Rentals, Inc		2,398
	7,724	*,e	Veritiv Corp		288

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	55,469		Vestas Wind Systems AS	$	2,884
	264,752		Vinci S.A.		16,835
	605,193		Volvo AB (B Shares)		5,797
	260	e	W.W. Grainger, Inc		56
	15,766	*	Wabash National Corp		167
	70,068		Wartsila Oyj (B Shares)		2,780
	121,923		Wolseley plc		7,132
	20,710		Woodward Governor Co		843
			TOTAL CAPITAL GOODS		525,134
COMMERCIAL & PROFESSIONAL SERVICES - 0.5%
	2,604		ABM Industries, Inc		71
	52,489		Acacia Research (Acacia Technologies)		477
	203,949	*	ACCO Brands Corp		1,442
	12,234		Administaff, Inc		537
	1,518	e	ADT Corp		45
	75,021		Aggreko plc		1,082
	407,083		Brambles Ltd		2,796
	70,920		Bureau Veritas S.A.		1,497
	342,986		Capita Group plc		6,229
	10,978		CDI Corp		94
	9,841		CEB, Inc		673
	2,394	*	Copart, Inc		79
	218,000		Dai Nippon Printing Co Ltd		2,106
	24,020		Deluxe Corp		1,339
	68,161		Dun & Bradstreet Corp		7,157
	23,123		Equifax, Inc		2,247
	2,000		Heidrick & Struggles International, Inc		39
	6,421		HNI Corp		275
	2,948	*	ICF International, Inc		90
	9,308	*	IHS, Inc (Class A)		1,080
	19,643		Interface, Inc		441
	77,857		Intertek Group plc		2,873
	4,335		Kelly Services, Inc (Class A)		61
	5,113		Kforce, Inc		134
	30,322		Manpower, Inc		2,483
	11,581	*	Mistras Group, Inc		149
	2,100		Mobile Mini, Inc		65
	31,281	*	Navigant Consulting, Inc		498
	1,000	*	On Assignment, Inc		37
	109,843		R.R. Donnelley & Sons Co		1,599
	8,726		Resources Connection, Inc		131
	160,537		Robert Half International, Inc		8,213
	16,303	*	RPX Corp		224
	58,400		Secom Co Ltd		3,512
	4,679		SGS S.A.		8,176
	1,544	*	SP Plus Corp		36
	27,563		Tetra Tech, Inc		670
	179,000		Toppan Printing Co Ltd		1,442
	3,462		Tyco International plc		116
	13,021		Viad Corp		377
	21,774		Waste Management, Inc		1,085
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		61,677

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
CONSUMER DURABLES & APPAREL - 1.0%
	166,687		Adidas-Salomon AG.	$	13,440
	407,529		Barratt Developments plc		3,981
	27,158	*	Black Diamond, Inc		171
	97,796		Burberry Group plc		2,027
	87,628		Callaway Golf Co		732
	47,248		Christian Dior S.A.		8,852
	9,336		Columbia Sportswear Co		549
	1,447		CSS Industries, Inc		38
	24,000		Electrolux AB (Series B)		678
	21,476	e	Ethan Allen Interiors, Inc		567
	23,400		Gildan Activewear, Inc		706
	11,854		Hanesbrands, Inc		343
	536		Hasbro, Inc		39
	114,973	*	Kate Spade & Co		2,197
	846,900		Matsushita Electric Industrial Co Ltd		8,571
	433,141	e	Mattel, Inc		9,122
	36,199	*	Meritage Homes Corp		1,322
	362	*	Michael Kors Holdings Ltd		15
	10,272	*	Mohawk Industries, Inc		1,867
	20,763		Movado Group, Inc		536
	607		Newell Rubbermaid, Inc		24
	416,554		Nike, Inc (Class B)		51,224
	126,600	e	Nikon Corp		1,531
	28,027		Pandora AS		3,274
	50,000		Sekisui Chemical Co Ltd		526
	98,400		Sekisui House Ltd		1,541
	685,000	*,e	Sharp Corp		786
	293,600	*	Sony Corp		7,197
	49,518		Taylor Wimpey plc		147
	4,442	e	Tupperware Corp		220
	50,725	*,e	Under Armour, Inc (Class A)		4,909
	11,586	*	Unifi, Inc		345
	105,341		VF Corp		7,185
	680		Whirlpool Corp		100
	458,500		Yue Yuen Industrial Holdings		1,706
			TOTAL CONSUMER DURABLES & APPAREL		136,468
CONSUMER SERVICES - 1.4%
	120,218		Accor S.A.		5,637
	2,589	*	Ascent Media Corp (Series A)		71
	30,700	e	Benesse Corp		821
	1,289		Bob Evans Farms, Inc		56
	25,421		Brinker International, Inc		1,339
	67,510		Choice Hotels International, Inc		3,217
	90,565		Darden Restaurants, Inc		6,207
	1,346		DineEquity, Inc		123
	13,470		Domino’s Pizza, Inc		1,453
	7,832	e	Dunkin Brands Group, Inc		384
	5,445		Hilton Worldwide Holdings, Inc		125

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	154,379		InterContinental Hotels Group plc	$	5,348
	10,177	*	Intrawest Resorts Holdings Inc		88
	6,202		Marcus Corp		120
	270,457		Marriott International, Inc (Class A)		18,445
	526,662		McDonald’s Corp		51,892
	441,450	*	MGM Resorts International		8,145
	52,700	e	Oriental Land Co Ltd		2,943
	10,604	*	Popeyes Louisiana Kitchen, Inc		598
	35,515		Royal Caribbean Cruises Ltd		3,164
	118,640	*	Ruby Tuesday, Inc		737
	124,543	*	ServiceMaster Global Holdings, Inc		4,178
	29,578		Sonic Corp		679
	882,892		Starbucks Corp		50,183
	89,029		Starwood Hotels & Resorts Worldwide, Inc		5,919
	215,710		TUI AG. (DI)		3,986
	93,278		Whitbread plc		6,608
	745,304		William Hill plc		3,964
	461		Wyndham Worldwide Corp		33
			TOTAL CONSUMER SERVICES		186,463
DIVERSIFIED FINANCIALS - 3.2%
	851,347		3i Group plc		6,014
	810,062	e	Aberdeen Asset Management plc		3,639
	90,400		AEON Financial Service Co Ltd		1,789
	30,126	*	Ally Financial, Inc		614
	555,308		American Express Co		41,165
	1,494		Ameriprise Financial, Inc		163
	909,353		Bank of New York Mellon Corp		35,601
	106,899		BlackRock, Inc		31,799
	1,071,508		Charles Schwab Corp		30,602
	308,966		CME Group, Inc		28,654
	1,362		Cohen & Steers, Inc		37
	4,349	*,e	Credit Acceptance Corp		856
	154,308		Deutsche Boerse AG.		13,308
	567,210		Discover Financial Services		29,489
	34,613		Eurazeo		2,305
	129,434		Exor S.p.A.		5,643
	366,118		Franklin Resources, Inc		13,642
	24,115	*	Green Dot Corp		424
	495,795		Hong Kong Exchanges and Clearing Ltd		11,374
	68,871		Industrivarden AB		1,210
	1,197,616		ING Groep NV		16,929
	116,184		IntercontinentalExchange Group, Inc		27,302
	502,870		Invesco Ltd		15,705
	785,059		Investec plc		6,011
	35,326		Investment Technology Group, Inc		471
	61,166	e	Janus Capital Group, Inc		832
	130,444		Kinnevik Investment AB (Series B)		3,729
	62,663		Legg Mason, Inc		2,607
	223,908		London Stock Exchange Group plc		8,207
	427,000		Mitsubishi UFJ Lease & Finance Co Ltd		1,881
	76,231		NASDAQ OMX Group, Inc		4,065

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	16,056		Nelnet, Inc (Class A)	$	556
	398,742		Northern Trust Corp		27,178
	22,527	*	PHH Corp		318
	5,879	*	Pico Holdings, Inc		57
	10,635	*	Safeguard Scientifics, Inc		165
	108,458		Schroders plc		4,609
	429,403		State Street Corp		28,860
	208,262		T Rowe Price Group, Inc		14,474
	4,056		TD Ameritrade Holding Corp		129
	1,664		Voya Financial, Inc		65
	37,869	*,e	Walter Investment Management Corp		615
	19,849		Wendel		2,327
	104,555	e	WisdomTree Investments, Inc		1,687
			TOTAL DIVERSIFIED FINANCIALS		427,107
ENERGY - 3.9%
	106,644	e	AltaGas Income Trust		2,628
	82,098		AMEC plc		892
	17,778	*,e	Antero Resources Corp		376
	336,724		Apache Corp		13,186
	47,113	*,e	Approach Resources, Inc		88
	78,800	e	ARC Resources Ltd		1,042
	17,093	e	Atwood Oceanics, Inc		253
	263,749		Baker Hughes, Inc		13,725
	1,323,004		BG Group plc		19,085
	67,305	*,e	C&J Energy Services Ltd		237
	85,409	*	Callon Petroleum Co		623
	193,232		Caltex Australia Ltd		4,266
	108,839	*	Cameron International Corp		6,674
	3,077	e	CARBO Ceramics, Inc		58
	724,228		Cenovus Energy, Inc (Toronto)		10,984
	252,826	*	Cheniere Energy, Inc		12,211
	61,417		Cimarex Energy Co		6,294
	92,211	*,e	Clean Energy Fuels Corp		415
	78,612	*,e	Cloud Peak Energy, Inc		207
	417,653		Columbia Pipeline Group, Inc		7,639
	30,233	*	Concho Resources, Inc		2,972
	146,204		ConocoPhillips		7,012
	22,745	*	Contango Oil & Gas Co		173
	255,515	*	Continental Resources, Inc		7,402
	131,304	e	Crescent Point Energy Corp		1,502
	5,779		Delek Group Ltd		1,263
	2,500		Delek US Holdings, Inc		69
	501,497		Devon Energy Corp		18,600
	421,224		Enbridge, Inc		15,640
	438,388		EnCana Corp		2,822
	2,011		Energen Corp		100
	72,600	e	Enerplus Resources Fund		354
	132,564		Ensco plc		1,866
	442,537		EOG Resources, Inc		32,217
	40,378		EQT Corp		2,615
	1,694	*	FMC Technologies, Inc		52

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	338,031		Galp Energia SGPS S.A.	$	3,336
	18,384	*,e	Geospace Technologies Corp		254
	16,052		Green Plains Renewable Energy, Inc		312
	307,564		Hess Corp		15,397
	315,600		Inpex Holdings, Inc		2,822
	201,413	*	ION Geophysical Corp		79
	148,445	e	Keyera Corp		4,088
	387,523		Kinder Morgan, Inc		10,727
	35,320		Koninklijke Vopak NV		1,412
	538,837		Marathon Oil Corp		8,298
	555,623		Marathon Petroleum Corp		25,742
	21,626	*	Matrix Service Co		486
	308,654	*,e	McDermott International, Inc		1,327
	141,335	*	MEG Energy Corp		873
	421,557		National Oilwell Varco, Inc		15,872
	10,984	*	Natural Gas Services Group, Inc		212
	174,129		Neste Oil Oyj		4,008
	232,452		Noble Energy, Inc		7,015
	26,358	*,e	Oasis Petroleum, Inc		229
	528,673		Occidental Petroleum Corp		34,972
	225,695		OMV AG.		5,492
	173,860		Oneok, Inc		5,598
	39,397	*	PDC Energy, Inc		2,088
	200,031		Petrofac Ltd		2,330
	463,484		Phillips 66		35,614
	136,604		Pioneer Natural Resources Co		16,616
	936,036		Repsol YPF S.A.		10,917
	62,233	*,e	Rex Energy Corp		129
	7,692	*,e	RigNet, Inc		196
	894	*	SEACOR Holdings, Inc		53
	80,312	*	Southwestern Energy Co		1,019
	856,388		Spectra Energy Corp		22,497
	71,318	e	St. Mary Land & Exploration Co		2,285
	780,275	*	Statoil ASA		11,376
	652,134		Suncor Energy, Inc		17,441
	88,722		Superior Energy Services		1,121
	15,289		Technip S.A.		724
	323,636		Tenaris S.A.		3,891
	16,079		Tesco Corp		115
	9,750		Tesoro Corp		948
	83,049	*	Tetra Technologies, Inc		491
	776,354		Tullow Oil plc		1,996
	36,311	*,e	Ultra Petroleum Corp		232
	27,062	*	Unit Corp		305
	58,995		Valero Energy Corp		3,546
	481,944	*	Weatherford International Ltd		4,087
	91,978		Western Refining, Inc		4,058
	16,924	*,e	Westmoreland Coal Co		238
	25,522	*	Whiting Petroleum Corp		390
	452,279		Williams Cos, Inc		16,666
	304,703		Woodside Petroleum Ltd		6,236
	83,146		WorleyParsons Ltd		348
			TOTAL ENERGY		512,046

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
FOOD & STAPLES RETAILING - 0.9%
	179,300		Aeon Co Ltd	$	2,782
	181,633		Carrefour S.A.		5,383
	41,075		Casino Guichard Perrachon S.A.		2,187
	25,015	e	Colruyt S.A.		1,206
	32,289		Delhaize Group		2,862
	558,408	e	J Sainsbury plc		2,208
	59,300		Jeronimo Martins SGPS S.A.		800
	56,260		Koninklijke Ahold NV		1,097
	862,637		Kroger Co		31,115
	66,183		Loblaw Cos Ltd		3,408
	71,151		Metro AG.		1,969
	5,869	*	Natural Grocers by Vitamin C		133
	159,500		Seven & I Holdings Co Ltd		7,278
	9,498		Spartan Stores, Inc		246
	761,272		Sysco Corp		29,667
	3,281,202		Tesco plc		9,114
	286,178		Wesfarmers Ltd		7,911
	185,888		Whole Foods Market, Inc		5,883
	530,416	e	WM Morrison Supermarkets plc		1,335
			TOTAL FOOD & STAPLES RETAILING		116,584
FOOD, BEVERAGE & TOBACCO - 2.3%
	377,000		Ajinomoto Co, Inc		7,950
	112,409		Aryzta AG.		4,764
	293,907		Associated British Foods plc		14,874
	29,826		Bunge Ltd		2,186
	4,897		Calavo Growers, Inc		219
	225,312		Campbell Soup Co		11,419
	496,296		Coca-Cola Amatil Ltd		3,146
	2,943		Coca-Cola Enterprises, Inc		142
	175,846		Coca-Cola HBC AG.		3,722
	133,964		ConAgra Foods, Inc		5,427
	19,775	*	Darling International, Inc		222
	15,387		Dr Pepper Snapple Group, Inc		1,216
	14,539		Flowers Foods, Inc		360
	635,174		General Mills, Inc		35,652
	280,404		Groupe Danone		17,700
	2,224		Hormel Foods Corp		141
	1,489		J.M. Smucker Co		170
	323,360		Kellogg Co		21,520
	76,958		Kerry Group plc (Class A)		5,790
	92,219		Keurig Green Mountain, Inc		4,808
	111,000		Kikkoman Corp		3,057
	359,392		Kraft Heinz Co		25,366
	1,163		Lindt & Spruengli AG.		6,819
	85		Lindt & Spruengli AG. (Registered)		6,030
	990		McCormick & Co, Inc		81
	75,316		Mead Johnson Nutrition Co		5,302
	1,049,099		Mondelez International, Inc		43,926

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	36,400		Nissin Food Products Co Ltd	$	1,675
	152,793		Orkla ASA		1,130
	665,417		PepsiCo, Inc		62,749
	63,300		Suntory Beverage & Food Ltd		2,432
	396,114		Tate & Lyle plc		3,530
	25,700		Toyo Suisan Kaisha Ltd		974
	2,039	*	WhiteWave Foods Co (Class A)		82
	76,800		Yakult Honsha Co Ltd		3,826
			TOTAL FOOD, BEVERAGE & TOBACCO		308,407
HEALTH CARE EQUIPMENT & SERVICES - 2.1%
	6,096		Abaxis, Inc		268
	48,000	*	Acadia Healthcare Co, Inc		3,181
	5,828		Aceto Corp		160
	43,900		Alfresa Holdings Corp		750
	8,037	*	Align Technology, Inc		456
	54,203	*	Amedisys, Inc		2,058
	246,568		AmerisourceBergen Corp		23,421
	27,709	*	AMN Healthcare Services, Inc		832
	14,038	*	Amsurg Corp		1,091
	21,695	*	Angiodynamics, Inc		286
	215,956		Anthem, Inc		30,234
	14,016	*,e	athenahealth, Inc		1,869
	5,674	*	AtriCure, Inc		124
	244,083		Becton Dickinson & Co		32,380
	36,694	*,e	BioScrip, Inc		69
	38,727	*	Brookdale Senior Living, Inc		889
	373,176		Cardinal Health, Inc		28,667
	141,676	*	Centene Corp		7,683
	203,334	*	Cerner Corp		12,192
	123,596	*,e	Cerus Corp		561
	4,495	e	Chemed Corp		600
	226,089		Cigna Corp		30,527
	94,399		Coloplast AS		6,693
	1,249	e	Computer Programs & Systems, Inc		53
	700	*	Cyberonics, Inc		43
	568		Dentsply International, Inc		29
	42,997	*	Edwards Lifesciences Corp		6,113
	928	*	Envision Healthcare Holdings, Inc		34
	117,007		Essilor International S.A.		14,295
	41,904	*	ExamWorks Group, Inc		1,225
	36,895	*,e	GenMark Diagnostics, Inc		290
	6,176	*	Greatbatch, Inc		348
	4,374	*	Haemonetics Corp		141
	16,556	*	Hanger Orthopedic Group, Inc		226
	197,615		Healthscope Ltd		355
	5,292	*	HealthStream, Inc		115
	4,669	*	Healthways, Inc		52
	941	*	Henry Schein, Inc		125
	10,561	*	HMS Holdings Corp		93
	2,900	*	Hologic, Inc		113
	133,333		Humana, Inc		23,867

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	62,766	*	Idexx Laboratories, Inc	$	4,660
	61,900	*	Inverness Medical Innovations, Inc		2,980
	5,685	*	IPC The Hospitalist Co, Inc		442
	1,970	*	Laboratory Corp of America Holdings		214
	2,517		Landauer, Inc		93
	22,086	*	LDR Holding Corp		763
	2,635	*	LHC Group, Inc		118
	56,692	*	LifePoint Hospitals, Inc		4,019
	1,730	*	MedAssets, Inc		35
	1,474	*	Medidata Solutions, Inc		62
	20,209	*	Merit Medical Systems, Inc		483
	16,400		Miraca Holdings, Inc		696
	38,680	*,e	Molina Healthcare, Inc		2,663
	20,225	*	Natus Medical, Inc		798
	21,367	*	NxStage Medical, Inc		337
	10,655	*	Omnicell, Inc		331
	63,605	*	OraSure Technologies, Inc		282
	2,718	e	Owens & Minor, Inc		87
	86,208		Patterson Cos, Inc		3,729
	7,075	*	Providence Service Corp		308
	4,910		Quality Systems, Inc		61
	8,907	*	Quidel Corp		168
	123,061		Ramsay Health Care Ltd		5,076
	1,152		Resmed, Inc		59
	181,817		Ryman Healthcare Ltd		852
	78,658		Select Medical Holdings Corp		849
	3,688	*	Sirona Dental Systems, Inc		344
	3,035	*	Spectranetics Corp		36
	44,483	*,e	Staar Surgical Co		345
	994	*	Surgical Care Affiliates, Inc		32
	39,900		Suzuken Co Ltd		1,331
	95,700		Sysmex Corp		5,054
	2,895	*	Triple-S Management Corp (Class B)		52
	25,547	*	Universal American Corp		175
	725	*	Varian Medical Systems, Inc		53
	4,541	*	Vascular Solutions, Inc		147
	4,049	*	VCA Antech, Inc		213
	33,652	*	Vocera Communications, Inc		384
	11,103	*	Wright Medical Group NV		226
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		271,065
HOUSEHOLD & PERSONAL PRODUCTS - 1.6%
	9,680		Beiersdorf AG.		858
	556,004		Colgate-Palmolive Co		35,284
	121,560		Estee Lauder Cos (Class A)		9,807
	17,435		Henkel KGaA		1,541
	57,164		Henkel KGaA (Preference)		5,888
	41,500		Kao Corp		1,881
	26,354		Kimberly-Clark Corp		2,874
	69,929		L’Oreal S.A.		12,155
	29,646	*	Medifast, Inc		796
	1,053,287		Procter & Gamble Co		75,774

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	181,363		Reckitt Benckiser Group plc	$	16,447
	14,496		Svenska Cellulosa AB (B Shares)		406
	537,314		Unilever NV		21,538
	471,335		Unilever plc		19,197
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		204,446
INSURANCE - 3.4%
	331,432		ACE Ltd		34,270
	295,057		Aegon NV		1,692
	533,207		Aflac, Inc		30,995
	151,875		Allianz AG.		23,858
	1,453,020		AMP Ltd		5,707
	10,941		Arthur J. Gallagher & Co		452
	79,754		Aspen Insurance Holdings Ltd		3,706
	422,667		Assicurazioni Generali S.p.A.		7,733
	561,728		Aviva plc		3,842
	651,693		AXA S.A.		15,822
	30,787		Axis Capital Holdings Ltd		1,654
	668,549	*	Berkshire Hathaway, Inc (Class B)		87,179
	234,043		Chubb Corp		28,705
	177,318		CNP Assurances		2,464
	43,494		Delta Lloyd NV		365
	2,400		Employers Holdings, Inc		54
	279,927		Hartford Financial Services Group, Inc		12,815
	537,218		Insurance Australia Group Ltd		1,837
	1,916		Kemper Corp		68
	35,342		Legal & General Group plc		127
	330,289		Marsh & McLennan Cos, Inc		17,248
	70,037		Muenchener Rueckver AG.		13,080
	2,600		NKSJ Holdings, Inc		76
	2,830,172		Old Mutual plc		8,111
	15,856		PartnerRe Ltd		2,202
	233,299		Principal Financial Group		11,044
	397,411		Progressive Corp		12,177
	415,037		Prudential Financial, Inc		31,630
	814,537		Prudential plc		17,184
	2,061		QBE Insurance Group Ltd		19
	6,942		Reinsurance Group of America, Inc (Class A)		629
	12,747		RenaissanceRe Holdings Ltd		1,355
	333,784		RSA Insurance Group plc		2,035
	998,241		Standard Life plc		5,863
	13,455		Stewart Information Services Corp		550
	182,121		Swiss Re Ltd		15,625
	172,600		T&D Holdings, Inc		2,039
	344,705		Travelers Cos, Inc		34,309
	59,778		Zurich Financial Services AG.		14,676
			TOTAL INSURANCE		453,197
MATERIALS - 2.9%
	61,387		Agnico-Eagle Mines Ltd		1,556
	30,531	e	Agrium, Inc		2,736
	105,399		Air Liquide		12,495

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	236,880		Air Products & Chemicals, Inc	$	30,221
	23,600		Akzo Nobel NV		1,535
	4,437		Aptargroup, Inc		293
	61,000		Asahi Kasei Corp		430
	116,427		Avery Dennison Corp		6,586
	63,073		Ball Corp		3,923
	287,384		BASF SE		21,980
	366,160		Boliden AB		5,733
	45,761		Celanese Corp (Series A)		2,708
	63,760	*,e	Century Aluminum Co		293
	2,372	*	Clearwater Paper Corp		112
	131,361		Commercial Metals Co		1,780
	158,249		CRH plc		4,178
	5,941		DSM NV		274
	37,546		Eastman Chemical Co		2,430
	295,761		Ecolab, Inc		32,451
	5,690	*	Ferro Corp		62
	291,240		Fletcher Building Ltd		1,270
	69,111	*,e	Flotek Industries, Inc		1,154
	28,710	e	Franco-Nevada Corp		1,265
	3,622		Givaudan S.A.		5,894
	2,623		Globe Specialty Metals, Inc		32
	65,302		H.B. Fuller Co		2,216
	48,214		HeidelbergCement AG.		3,311
	98,716		Holcim Ltd		5,175
	4,713	*,e	Horsehead Holding Corp		14
	23,190		Innophos Holdings, Inc		919
	9,797		International Flavors & Fragrances, Inc		1,012
	226,410		International Paper Co		8,556
	240,200		JFE Holdings, Inc		3,155
	21,680		Johnson Matthey plc		804
	95,619		K&S AG.		3,208
	830,676	*	Kinross Gold Corp		1,444
	669,000		Kobe Steel Ltd		725
	7,764	*	Kraton Polymers LLC		139
	58,000		Kuraray Co Ltd		723
	85,837		Linde AG.		13,942
	173,029	*	Louisiana-Pacific Corp		2,464
	354,210		LyondellBasell Industries AF S.C.A		29,527
	38,519		Minerals Technologies, Inc		1,855
	1,828,000		Mitsubishi Materials Corp		5,554
	120,960		Mitsui Chemicals, Inc		388
	1,024		Mondi plc		22
	114,123		Mosaic Co		3,550
	9,891		Myers Industries, Inc		133
	2,220		Neenah Paper, Inc		129
	612,548	*	Newcrest Mining Ltd		5,512
	479,400		Nippon Steel Corp		8,736
	21,200		Nitto Denko Corp		1,270
	1,188,005		Norsk Hydro ASA		3,962
	410,519		Nucor Corp		15,415
	11,843		PolyOne Corp		348

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	330,460		Potash Corp of Saskatchewan	$	6,792
	2,189		PPG Industries, Inc		192
	249,248		Praxair, Inc		25,388
	1,380		Quaker Chemical Corp		106
	8,303		Reliance Steel & Aluminum Co		448
	106,302		Royal Gold, Inc		4,994
	19,955		Schnitzer Steel Industries, Inc (Class A)		270
	19,423		Sealed Air Corp		911
	52,038		Sherwin-Williams Co		11,593
	101,400		Shin-Etsu Chemical Co Ltd		5,200
	153,069		Sigma-Aldrich Corp		21,264
	240,448		Silver Wheaton Corp		2,890
	1,200		Stepan Co		50
	74,982	*,e	Stillwater Mining Co		775
	454,233		Stora Enso Oyj (R Shares)		3,437
	373,000		Sumitomo Chemical Co Ltd		1,886
	642,000		Sumitomo Metal Mining Co Ltd		7,293
	500,757	e	Teck Cominco Ltd		2,390
	305,000		Toray Industries, Inc		2,637
	117,300		Toyo Seikan Kaisha Ltd		1,867
	18,379		Umicore		709
	379,837		UPM-Kymmene Oyj		5,702
	59,447	e	Valspar Corp		4,273
	4,790		Wausau Paper Corp		31
	177,174		WestRock Co		9,114
	63,023	*	Worthington Industries, Inc		1,669
			TOTAL MATERIALS		387,480
MEDIA - 1.8%
	12,985		Axel Springer AG.		726
	53,195	*,e	Charter Communications, Inc		9,354
	19,805		Cinemark Holdings, Inc		644
	103,369		Clear Channel Outdoor Holdings, Inc (Class A)		737
	48,100		Dentsu, Inc		2,469
	200,245	*,e	Discovery Communications, Inc (Class A)		5,212
	424,758	*	Discovery Communications, Inc (Class C)		10,317
	52,293	*,e	DreamWorks Animation SKG, Inc (Class A)		913
	11,620	*	Entercom Communications Corp (Class A)		118
	80,337		Entravision Communications Corp (Class A)		533
	18,968	*	Gray Television, Inc		242
	360,953		ITV plc		1,345
	1,894		JC Decaux S.A.		69
	10,069		John Wiley & Sons, Inc (Class A)		504
	1,742	*	Kabel Deutschland Holding AG.		227
	15,813		Lagardere S.C.A.		438
	20,124	*	Liberty Broadband Corp (Class A)		1,035
	4,448	*	Liberty Global plc		183
	2,960	*	Liberty Global plc (Class A)		127
	17,183	*,e	Media General, Inc		240
	177,989		New York Times Co (Class A)		2,102
	668,287		Pearson plc		11,423
	79,962		ProSiebenSat. Media AG.		3,925

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	244,919		Reed Elsevier plc	$	4,201
	1,550		Scholastic Corp		60
	9,283		Scripps Networks Interactive (Class A)		457
	70,790	*,e	Shaw Communications, Inc (B Shares)		1,371
	60,413	e	Sinclair Broadcast Group, Inc (Class A)		1,530
	1,046,400	e	Singapore Press Holdings Ltd		2,824
	223,073		Time Warner Cable, Inc		40,013
	515,539		Time Warner, Inc		35,443
	263,379		Vivendi Universal S.A.		6,240
	711,032		Walt Disney Co		72,667
	37,566	e	Wolters Kluwer NV		1,159
	694,861		WPP plc		14,466
			TOTAL MEDIA		233,314
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.8%
	72,318	*,e	Acadia Pharmaceuticals, Inc		2,392
	79,646		Actelion Ltd		10,123
	68,836	*,e	Affymetrix, Inc		588
	372,711		Agilent Technologies, Inc		12,795
	101,464	*,e	Akorn, Inc		2,892
	164,361	*	Alexion Pharmaceuticals, Inc		25,704
	363,190		Amgen, Inc		50,236
	52,153	*	Aratana Therapeutics, Inc		441
	1,106,188		Astellas Pharma, Inc		14,319
	127,060	*	Biogen Idec, Inc		37,077
	52,352	*	BioMarin Pharmaceutical, Inc		5,514
	13,123		Bio-Techne Corp		1,213
	42,008	*	Bluebird Bio, Inc		3,594
	858,570		Bristol-Myers Squibb Co		50,827
	39,475	*	Cambrex Corp		1,566
	368,103	*	Celgene Corp		39,818
	5,290	*	Cempra, Inc		147
	57,720	*,e	Cepheid, Inc		2,609
	197,200		Chugai Pharmaceutical Co Ltd		6,057
	119,600	e	Dainippon Sumitomo Pharma Co Ltd		1,196
	77,465	*,e	Depomed, Inc		1,460
	49,900	e	Eisai Co Ltd		2,944
	46,753	*,e	Endocyte, Inc		214
	15,784	*,e	Fluidigm Corp		128
	603,910		Gilead Sciences, Inc		59,298
	1,416,810		GlaxoSmithKline plc		27,194
	4,270	*	Immunogen, Inc		41
	121,343	*,e	Immunomedics, Inc		209
	20,482	*,e	Inovio Pharmaceuticals, Inc		118
	16,163	*	Intra-Cellular Therapies, Inc		647
	2,776	*,e	Isis Pharmaceuticals, Inc		112
	986,974		Johnson & Johnson		92,134
	169,000		Kyowa Hakko Kogyo Co Ltd		2,519
	46,272		Lonza Group AG.		6,072
	387,535	*,e	MannKind Corp		1,244
	1,252,741		Merck & Co, Inc		61,873
	114,169		Merck KGaA		10,108

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	2,322	*	Mettler-Toledo International, Inc	$	661
	55,593	*,e	MiMedx Group, Inc		537
	37,564	*	Momenta Pharmaceuticals, Inc		616
	170,288	*,e	Nektar Therapeutics		1,866
	523,431		Novartis AG.		48,110
	549,562		Novo Nordisk AS		29,657
	229,539	*,e	Opko Health, Inc		1,930
	87,972	*,e	Orexigen Therapeutics, Inc		186
	57,817		Orion Oyj (Class B)		2,188
	12,565	*	PerkinElmer, Inc		578
	48,719	*	Prestige Brands Holdings, Inc		2,200
	24,163	*	Prothena Corp plc		1,096
	67,703	*	Qiagen NV		1,746
	1,405	*	Quintiles Transnational Holdings, Inc		98
	40,666	*,e	Relypsa, Inc		753
	18,718	*	Repligen Corp		521
	167,261		Roche Holding AG.		44,403
	90,249	*,e	Sangamo Biosciences, Inc		509
	61,269	*,e	Sarepta Therapeutics, Inc		1,967
	297,685		Takeda Pharmaceutical Co Ltd		13,060
	44,995	*,e	Tetraphase Pharmaceuticals, Inc		336
	283,356		Thermo Electron Corp		34,649
	166,797	*	Vertex Pharmaceuticals, Inc		17,370
	226,438	*,e	Vivus, Inc		371
	23,386	*	Waters Corp		2,765
	112,104	*	Xenoport, Inc		389
	8,246	*,e	Zafgen, Inc		264
	485,319		Zoetis Inc		19,985
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		764,234
REAL ESTATE - 2.6%
	98,800		Aeon Mall Co Ltd		1,518
	13,025	*	Altisource Portfolio Solutions S.A.		311
	19,852		American Campus Communities, Inc		719
	387,316		American Tower Corp		34,076
	1,199,598		Annaly Capital Management, Inc		11,840
	2,022		AvalonBay Communities, Inc		353
	119,509		Boston Properties, Inc		14,150
	250,076		British Land Co plc		3,176
	2,193,449		CapitaLand Ltd		4,142
	3,430,300		CapitaMall Trust		4,587
	180,729	*	CBRE Group, Inc		5,783
	256,100		City Developments Ltd		1,388
	16,426	e	Coresite Realty		845
	332,732		Crown Castle International Corp		26,243
	207,000		Daiwa House Industry Co Ltd		5,132
	366,699		Dexus Property Group		1,849
	5,728		Digital Realty Trust, Inc		374
	22,121		Douglas Emmett, Inc		635
	159,367		Duke Realty Corp		3,036
	7,179		Equinix, Inc		1,963
	218,788		Equity Residential		16,435

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	255,532		First Industrial Realty Trust, Inc	$	5,353
	2,732	*	Forest City Enterprises, Inc (Class A)		55
	12,049		Gecina S.A.		1,469
	376,367		GPT Group (ASE)		1,196
	86,130		Hammerson plc		813
	529,437		HCP, Inc		19,722
	454,745		Host Marriott Corp		7,190
	121,000		Hysan Development Co Ltd		504
	388		Icade		26
	132,400	e	Iron Mountain, Inc		4,107
	291,636		Land Securities Group plc		5,560
	135,988		Lend Lease Corp Ltd		1,204
	783,402		Liberty International plc		3,910
	55,028		Macerich Co		4,227
	84,212		Macquarie Goodman Group		348
	24,518		Mid-America Apartment Communities, Inc		2,007
	727,767		Mirvac Group		884
	522,810		Mitsui Fudosan Co Ltd		14,331
	82,100		Nomura Real Estate Holdings, Inc		1,651
	512,219		Prologis, Inc		19,925
	56,247		Ryman Hospitality Properties		2,769
	419,971		Segro plc		2,732
	149,100		Shoei Co Ltd		1,349
	228,033		Simon Property Group, Inc		41,894
	1,304,241		Stockland Trust Group		3,543
	510,000		Swire Pacific Ltd (Class A)		5,716
	1,007,600		Swire Properties Ltd		2,793
	58,841	*	Unibail-Rodamco		15,251
	97,312		Ventas, Inc		5,455
	119,874		Vornado Realty Trust		10,839
	218,577		Welltower, Inc		14,802
	1,409		Weyerhaeuser Co		39
			TOTAL REAL ESTATE		340,219
RETAILING - 1.8%
	865	*	1-800-FLOWERS.COM, Inc (Class A)		8
	249,956	e	American Eagle Outfitters, Inc		3,907
	39,312	*	AutoZone, Inc		28,455
	198,967	*	Bed Bath & Beyond, Inc		11,345
	133,587		Best Buy Co, Inc		4,959
	21,019		Big 5 Sporting Goods Corp		218
	6,344	*	Blue Nile, Inc		213
	7,961	*,e	Cabela’s, Inc		363
	17,529		Canadian Tire Corp Ltd		1,577
	82,643	*	Carmax, Inc		4,902
	38,019		DSW, Inc (Class A)		962
	14,500		Fast Retailing Co Ltd		5,898
	36,865		Finish Line, Inc (Class A)		712
	25,233	*	Francesca’s Holdings Corp		309
	730	e	GameStop Corp (Class A)		30
	307,468		Gap, Inc		8,763
	23,293		GNC Holdings, Inc		942

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	444,913	*,e	Groupon, Inc	$	1,450
	8,583		Haverty Furniture Cos, Inc		202
	220,001		Hennes & Mauritz AB (B Shares)		8,038
	26,410		HSN, Inc		1,512
	513,682		Inditex S.A.		17,225
	104,200	e	Jardine Cycle & Carriage Ltd		1,980
	1,045,865		Kingfisher plc		5,681
	6,985		Kirkland’s, Inc		150
	234,016		Kohl’s Corp		10,837
	11,065	*,e	Lands’ End, Inc		299
	4,995,620		Li & Fung Ltd		3,827
	1,456	*	LKQ Corp		41
	648,815		Lowe’s Companies, Inc		44,716
	32,219	*	MarineMax, Inc		455
	336,563		Marks & Spencer Group plc		2,555
	265,065	*	NetFlix, Inc		27,371
	1,281		Next plc		148
	67,018		Nordstrom, Inc		4,806
	16,551		Nutri/System, Inc		439
	484,272	*	Office Depot, Inc		3,109
	8,683	e	Outerwall, Inc		494
	4,565	*,e	Overstock.com, Inc		78
	8,590	e	PetMed Express, Inc		138
	35,119	e	Pier 1 Imports, Inc		242
	64,691		PPR		10,590
	202,259		Ross Stores, Inc		9,804
	3,361		Shoe Carnival, Inc		80
	48,657	*	Shutterfly, Inc		1,739
	471		Signet Jewelers Ltd		64
	107,654	*	Sports Direct International plc		1,235
	32,052	e	Stage Stores, Inc		315
	564,868		Staples, Inc		6,626
	10,684		Stein Mart, Inc		103
	17,434		Tiffany & Co		1,346
	16,438	*,e	Tile Shop Holdings, Inc		197
	968		Tractor Supply Co		82
	277	*	Ulta Salon Cosmetics & Fragrance, Inc		45
	90,600	e	Yamada Denki Co Ltd		365
			TOTAL RETAILING		241,947
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.2%
	1,764		Analog Devices, Inc		100
	1,551,826		Applied Materials, Inc		22,796
	102,883		ASML Holding NV		9,044
	15,582	*	Cirrus Logic, Inc		491
	2,189,481		Intel Corp		65,991
	22,521		Lam Research Corp		1,471
	1,797		Nvidia Corp		44
	535,816	*	ON Semiconductor Corp		5,037
	130,376		Skyworks Solutions, Inc		10,979
	70,690	*,e	SunPower Corp		1,417
	40,230		Teradyne, Inc		725

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	762,304		Texas Instruments, Inc	$	37,749
	111,500	*	Tokyo Electron Ltd		5,264
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		161,108
SOFTWARE & SERVICES - 5.1%
	456,901		Accenture plc		44,895
	51,181	*	Actua Corp		602
	458,188	*	Adobe Systems, Inc		37,672
	118,045	*	Alphabet, Inc (Class A)		75,356
	121,672	*	Alphabet, Inc (Class C)		74,028
	24,648		Amadeus IT Holding S.A.		1,056
	1,856	*	Aspen Technology, Inc		70
	47,735		Atos Origin S.A.		3,669
	191,488	*	Autodesk, Inc		8,452
	97,659		Automatic Data Processing, Inc		7,848
	126,956		Broadridge Financial Solutions, Inc		7,027
	404,991		CA, Inc		11,056
	24,502	*	Cadence Design Systems, Inc		507
	37,380		Cap Gemini S.A.		3,338
	113,495	*	CGI Group, Inc		4,112
	10,643	*,e	Cimpress NV		810
	287	*	Citrix Systems, Inc		20
	596,648	*	Cognizant Technology Solutions Corp (Class A)		37,356
	42,872	*	comScore, Inc		1,979
	20,058		Convergys Corp		464
	29,547	*	DHI Group, Inc		216
	18,864	*	Ellie Mae, Inc		1,256
	2,810	*,e	EnerNOC, Inc		22
	6,214		Factset Research Systems, Inc		993
	5,718		Fair Isaac Corp		483
	83,857	*,e	FireEye, Inc		2,668
	9,971	*	FleetCor Technologies, Inc		1,372
	30,365	*	Fortinet, Inc		1,290
	1,391,000		Fujitsu Ltd		6,051
	156,154	*,e	Glu Mobile, Inc		682
	50,701	*	HomeAway, Inc		1,346
	8,867	*	Infoblox, Inc		142
	68,487	*	Internap Network Services Corp		420
	403,104		International Business Machines Corp		58,438
	276,691		Intuit, Inc		24,556
	26,371		j2 Global, Inc		1,868
	58,827	*,e	Liquidity Services, Inc		435
	35,444	*,e	Marketo, Inc		1,007
	563,227		Mastercard, Inc (Class A)		50,758
	1,000		MAXIMUS, Inc		60
	65,079	*	Monster Worldwide, Inc		418
	3,035	*,e	NetSuite, Inc		255
	19,743	*,e	NeuStar, Inc (Class A)		537
	20,400		NTT Data Corp		1,028
	38,014		Open Text Corp		1,702
	1,574,138		Oracle Corp		56,858
	857		Paychex, Inc		41

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	7,781	*	Perficient, Inc	$	120
	18,092	*	PROS Holdings, Inc		401
	7,962	*	Qualys, Inc		227
	158,043	*	Rackspace Hosting, Inc		3,900
	7,887	*	Rovi Corp		83
	567,078	*	Salesforce.com, Inc		39,372
	319,096		SAP AG.		20,672
	215,673	*	ServiceSource International LLC		863
	5,854	*	SolarWinds, Inc		230
	5,855	*	SPS Commerce, Inc		397
	8,320	*	Stamps.com, Inc		616
	874,268		Symantec Corp		17,022
	12,936	*	Syntel, Inc		586
	4,529	*	Tangoe, Inc		33
	20,999	*	Teradata Corp		608
	6,527	*	Ultimate Software Group, Inc		1,168
	45,368	*	Unisys Corp		540
	37,999	*,e	Vasco Data Security International		647
	54,595	*	Website Pros, Inc		1,151
	2,980		Western Union Co		55
	57,077	*	Workday, Inc		3,930
	1,970,774		Xerox Corp		19,176
	4,146	*	Xoom Corp		103
	917,957	*	Yahoo!, Inc		26,538
			TOTAL SOFTWARE & SERVICES		673,657
TECHNOLOGY HARDWARE & EQUIPMENT - 2.1%
	8,103		Adtran, Inc		118
	4,234		Belden CDT, Inc		198
	2,571	*	Benchmark Electronics, Inc		56
	18,011		Black Box Corp		266
	24,131	*	Calix Networks, Inc		188
	2,393,363		Cisco Systems, Inc		62,826
	53,700		Citizen Watch Co Ltd		371
	9,600		Cognex Corp		330
	909	*	Coherent, Inc		50
	4,145		Comtech Telecommunications Corp		85
	796,893		Corning, Inc		13,643
	80,260	*	Cray, Inc		1,590
	1,318	*	Electronics for Imaging, Inc		57
	1,568,702		EMC Corp		37,900
	7,100	*	FARO Technologies, Inc		249
	1,358		FEI Co		99
	103,068	*	Finisar Corp		1,147
	8,777	*	Flextronics International Ltd		93
	1,346,907		Hewlett-Packard Co		34,494
	59,600	*	Ibiden Co Ltd		780
	199,936		Ingram Micro, Inc (Class A)		5,446
	11,659	*	Insight Enterprises, Inc		301
	7,090		InterDigital, Inc		359
	30,066	*,e	IPG Photonics Corp		2,284
	41,052		Jabil Circuit, Inc		918

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	15,900		Keyence Corp	$	7,101
	243,200		Konica Minolta Holdings, Inc		2,562
	250,900		Kyocera Corp		11,491
	79,342		Lexmark International, Inc (Class A)		2,299
	193,513	e	Motorola, Inc		13,232
	65,400		Murata Manufacturing Co Ltd		8,448
	916,819		NEC Corp		2,823
	21,264	*	Netgear, Inc		620
	78,800		Omron Corp		2,372
	500	*	OSI Systems, Inc		38
	1,774		Plantronics, Inc		90
	1,420	*	Plexus Corp		55
	34,806	*	QLogic Corp		357
	817,779		Qualcomm, Inc		43,939
	23,440	*	RealD, Inc		225
	611,800	e	Ricoh Co Ltd		6,175
	2,500	*	Rofin-Sinar Technologies, Inc		65
	165,359		SanDisk Corp		8,984
	5,855	*	Scansource, Inc		208
	4,835	e	Seagate Technology, Inc		217
	52,775	*,e	Silicon Graphics International Corp		207
	55,993	*	Sonus Networks, Inc		320
	67,932	*,e	Super Micro Computer, Inc		1,852
	1,417		SYNNEX Corp		121
	18,000		TDK Corp		1,018
	6,229		TE Connectivity Ltd		373
	21,664	*	Tech Data Corp		1,484
	2,148	*	Trimble Navigation Ltd		35
	13,773	*	TTM Technologies, Inc		86
	10,708	*,e	Universal Display Corp		363
	132,900		Yokogawa Electric Corp		1,391
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		282,399
TELECOMMUNICATION SERVICES - 1.6%
	7,261	*	Boingo Wireless, Inc		60
	2,910,673		BT Group plc		18,525
	724,928		CenturyTel, Inc		18,210
	252,930	*	Cincinnati Bell, Inc		789
	2,650		Consolidated Communications Holdings, Inc		51
	3,261	*,e	Fairpoint Communications, Inc		50
	7,683	*	General Communication, Inc (Class A)		133
	11,301		IDT Corp (Class B)		162
	106,269	*,e	Iridium Communications, Inc		654
	637,232		KDDI Corp		14,263
	58,980	*	Level 3 Communications, Inc		2,577
	5,214		Lumos Networks Corp		63
	395,400		Nippon Telegraph & Telephone Corp		13,927
	591,100		NTT DoCoMo, Inc		9,970
	9,470	*	Premiere Global Services, Inc		130
	115,540		Rogers Communications, Inc (Class B)		3,981
	2,865,200		Singapore Telecommunications Ltd		7,252
	963,739	*,e	Sprint Corp		3,701

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	22,191		Swisscom AG.	$	11,075
	1,471,064		TeliaSonera AB		7,941
	20,600		TELUS Corp		649
	1,668,712		Verizon Communications, Inc		72,606
	7,481,620		Vodafone Group plc		23,598
	240,525	*	Vonage Holdings Corp		1,414
			TOTAL TELECOMMUNICATION SERVICES		211,781
TRANSPORTATION - 1.8%
	281,626	e	Abertis Infraestructuras S.A. (Continuous)		4,456
	2,744		Allegiant Travel Co		593
	4,146		Arkansas Best Corp		107
	485,202		Auckland International Airport Ltd		1,519
	106,020		Autostrade S.p.A.		2,966
	111,141	*	Avis Budget Group, Inc		4,855
	338,256		Canadian National Railway Co		19,208
	44,700		Central Japan Railway Co		7,207
	843,634		CSX Corp		22,694
	269,961		Delta Air Lines, Inc		12,113
	200,518		Deutsche Lufthansa AG.		2,791
	512,789		Deutsche Post AG.		14,206
	83,200		East Japan Railway Co		7,011
	1,948		easyJet plc		52
	25,662	*	Echo Global Logistics, Inc		503
	5		Expeditors International of Washington, Inc		0^
	5,413		Fraport AG. Frankfurt Airport Services Worldwide		335
	1,231	*	Hertz Global Holdings, Inc		21
	11,986		Kuehne & Nagel International AG.		1,541
	103,000	e	Mitsui OSK Lines Ltd		247
	2,021,293		MTR Corp		8,789
	167,836		Norfolk Southern Corp		12,823
	221,300		Singapore Airlines Ltd		1,666
	791,888		Southwest Airlines Co		30,123
	18,004	*	Spirit Airlines, Inc		851
	228,000		Tokyu Corp		1,673
	446,973		Union Pacific Corp		39,517
	465,351		United Parcel Service, Inc (Class B)		45,926
	11,384	*	Wesco Aircraft Holdings, Inc		139
			TOTAL TRANSPORTATION		243,932
UTILITIES - 2.1%
	35,914		AGL Energy Ltd		404
	13,544		American Water Works Co, Inc		746
	16,720		Atco Ltd		491
	19,285		Canadian Utilities Ltd		522
	223,054		Centerpoint Energy, Inc		4,024
	861		Chesapeake Utilities Corp		46
	1,523,000		CLP Holdings Ltd		13,020
	376,114		Consolidated Edison, Inc		25,143
	530,964		Duke Energy Corp		38,198
	1,883		Edison International		119
	1,284,611		Enel Green Power S.p.A		2,429

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	871,593		Energias de Portugal S.A.	$	3,193
	331,373		Eversource Energy		16,774
	4,925,579		Hong Kong & China Gas Ltd		9,236
	2,535,166		Iberdrola S.A.		16,892
	285,298	*	Meridian Energy Ltd		384
	87,865		MGE Energy, Inc		3,619
	1,460,618		National Grid plc		20,342
	22,560		New Jersey Resources Corp		678
	376,921		NextEra Energy, Inc		36,769
	1,420	e	Ormat Technologies, Inc		48
	51,000		Osaka Gas Co Ltd		193
	635,479		Pepco Holdings, Inc		15,391
	152,091		Piedmont Natural Gas Co, Inc		6,094
	35,342		Public Service Enterprise Group, Inc		1,490
	586,762		Scottish & Southern Energy plc		13,280
	252,764		Sempra Energy		24,447
	1,577,190		Snam Rete Gas S.p.A.		8,100
	60,731		South Jersey Industries, Inc		1,534
	53,351		Suez Environnement S.A.		959
	90,839		TECO Energy, Inc		2,386
	460,790		Tokyo Gas Co Ltd		2,229
	2,695		United Utilities Group plc		38
	1,494		Unitil Corp		55
	56,043	e	WEC Energy Group, Inc		2,927
	27,296		WGL Holdings, Inc		1,574
	110,547		Xcel Energy, Inc		3,915
			TOTAL UTILITIES		277,689
			TOTAL COMMON STOCKS		7,772,965
			(Cost $6,336,627)
PREFERRED STOCKS - 0.2%
BANKS - 0.2%
	233,115	*,e	Federal Home Loan Mortgage Corp		1,142
	740,991	*	Federal National Mortgage Association		3,594
	14,500	e	M&T Bank Corp		15,972
			TOTAL BANKS		20,708
			TOTAL PREFERRED STOCKS		20,708
			(Cost $38,865)

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 7.3%
GOVERNMENT AGENCY DEBT - 3.1%
$	64,000,000	w	Federal Home Loan Bank (FHLB)		0.090	%	10/02/15	64,000
	23,000,000	w	FHLB		0.108		10/22/15	22,999
	5,000,000		FHLB		0.060		10/26/15	5,000
	10,000,000	w	FHLB		0.135		10/29/15	10,000
	16,900,000	w	FHLB		0.140		10/30/15	16,899
	30,000,000	w	FHLB		0.080		11/12/15	29,998
	177,000,000	w	FHLB		0.165		11/13/15	176,986

395

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	20,000,000	w	FHLB		0.170	%	01/25/16	$	19,992
	13,189,000		Federal Home Loan Mortgage Corp (FHLMC)		0.060		10/26/15		13,189
	20,000,000		Federal National Mortgage Association (FNMA)		0.175		11/18/15		19,998
	20,000,000	w	FNMA		0.135		11/25/15		19,998
	13,470,000	w	FNMA		0.140		12/01/15		13,467
			TOTAL GOVERNMENT AGENCY DEBT						412,526
TREASURY DEBT - 1.5%
	13,000,000	w	United States Treasury Bill		0.100		10/15/15		13,000
	18,000,000		United States Treasury Bill		0.140		11/12/15		18,000
	4,000,000	w	United States Treasury Bill		0.111		11/19/15		4,000
	10,000,000	w	United States Treasury Bill		0.080		12/03/15		10,000
	21,000,000	w	United States Treasury Bill		0.080		12/10/15		21,001
	48,000,000	w	United States Treasury Bill		0.140		01/07/16		47,998
	23,000,000	w	United States Treasury Bill		0.126		01/21/16		22,999
	50,000,000	w	United States Treasury Bill		0.181		02/18/16		49,996
			TOTAL TREASURY DEBT						186,994
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.7%
GOVERNMENT AGENCY DEBT - 2.5%
	26,100,000		Federal Home Loan Bank (FHLB)		0.085		10/05/15		26,100
	42,200,000		FHLB		0.094-0.105		10/14/15		42,199
	48,900,000		FHLB		0.089-0.130		10/16/15		48,898
	35,000,000		FHLB		0.135		10/29/15		34,996
	37,000,000		FHLB		0.125-0.155		10/30/15		36,996
	17,500,000		FHLB		0.170		11/06/15		17,497
	30,000,000		FHLB		0.070-0.100		11/09/15		29,997
	25,000,000		FHLB		0.100-0.195		11/18/15		24,995
	19,500,000		FHLB		0.075-0.145		11/25/15		19,496
	12,600,000		FHLB		0.177		12/01/15		12,596
	25,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.120		10/26/15		24,998
	11,000,000		Federal National Mortgage Association (FNMA)		0.750		11/12/15		10,999
			TOTAL GOVERNMENT AGENCY DEBT						329,767
TREASURY DEBT - 0.2%
	30,000,000		United States Treasury Bill		0.140		02/04/16		29,985
			TOTAL TREASURY DEBT						29,985
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						359,752
			TOTAL SHORT-TERM INVESTMENTS						959,272
			(Cost $959,179)
			TOTAL INVESTMENTS - 105.9%						13,949,095
			(Cost $12,464,110)
			OTHER ASSETS & LIABILITIES, NET - (5.9)%						(779,138	)
			NET ASSETS - 100.0%					$	13,169,957

396

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 $360,681,000.
g	Security is 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 9/30/15 the aggregate value of these securities was $620,028,000, or 4.7% 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 cover collateral requirements on mortgage dollar rolls.
	Cost amounts are in thousands.

397

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND
MONEY MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2015

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
SHORT-TERM INVESTMENTS - 100.0%
ASSET BACKED - 0.0%
$	2,790,057		Honda Auto Receivables Owner Trust		0.240	%	02/16/16	$	2,790
			TOTAL ASSET BACKED						2,790
CERTIFICATE OF DEPOSIT - 2.9%
	30,000,000		Banco Del Estado De Chile		0.240		10/08/15		30,000
	50,000,000		Banco Del Estado De Chile		0.250		10/16/15		50,000
	25,000,000		Banco Del Estado De Chile		0.270		11/19/15		25,000
	22,000,000		Banco Del Estado De Chile		0.300		12/11/15		22,000
	30,000,000		Banco Del Estado De Chile		0.300		12/14/15		30,000
	25,000,000		Banco Del Estado De Chile		0.280		12/22/15		25,000
	50,000,000		Toronto Dominion Bank NY		0.220		10/05/15		50,000
	50,000,000		Toronto Dominion Bank NY		0.250		12/04/15		50,000
	50,000,000		Toronto-Dominion Bank NY		0.300		01/04/16		50,000
			TOTAL CERTIFICATE OF DEPOSIT						332,000
COMMERCIAL PAPER - 38.9%
	17,000,000		American Honda Finance Corp		0.150		10/06/15		17,000
	36,000,000		American Honda Finance Corp		0.170		10/21/15		35,996
	15,500,000		American Honda Finance Corp		0.170		10/22/15		15,498
	40,000,000		American Honda Finance Corp		0.210		11/05/15		39,992
	20,000,000		American Honda Finance Corp		0.210		11/06/15		19,996
	5,270,000	y	Apple, Inc		0.110		10/01/15		5,270
	20,000,000	y	Apple, Inc		0.150		10/13/15		19,999
	5,015,000	y	Apple, Inc		0.100		10/14/15		5,015
	30,000,000	y	Apple, Inc		0.100		10/16/15		29,999
	40,750,000	y	Apple, Inc		0.150-0.190		10/20/15		40,746
	15,000,000	y	Apple, Inc		0.110		10/26/15		14,999
	50,000,000	y	Apple, Inc		0.120		10/28/15		49,996
	50,000,000	y	Apple, Inc		0.160		10/29/15		49,994
	45,000,000	y	Apple, Inc		0.140		11/03/15		44,994
	13,633,000	y	Apple, Inc		0.170		12/14/15		13,628
	9,000,000	y	Australia & New Zealand Banking Group Ltd		0.190		11/05/15		8,998
	50,000,000	y	Australia & New Zealand Banking Group Ltd		0.305		12/03/15		49,973
	35,500,000	y	Australia & New Zealand Banking Group Ltd		0.310		12/04/15		35,480
	13,000,000	y	Australia & New Zealand Banking Group Ltd		0.360		12/17/15		12,990
	25,000,000	y	Bank of Nova Scotia		0.290		10/20/15		24,996
	20,000,000		Bank of Tokyo-Mitsubishi UFJ Ltd		0.210		10/27/15		19,997
	16,270,000		Bank of Tokyo-Mitsubishi UFJ Ltd		0.180		11/05/15		16,267
	25,000,000	y	Bedford Row Funding Corp		0.230		10/16/15		24,998
	13,230,000	y	Bedford Row Funding Corp		0.260		11/10/15		13,226
	15,000,000	y	Bedford Row Funding Corp		0.260		11/13/15		14,995
	5,000,000	y	Bedford Row Funding Corp		0.295		11/30/15		4,998
	20,585,000	y	Bedford Row Funding Corp		0.475		03/31/16		20,536
	30,000,000	y	CAFCO LLC		0.290		12/09/15		29,983
	6,500,000	y	Chevron Corp		0.130		10/06/15		6,500

398

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	40,000,000	y	Chevron Corp		0.140	%	10/16/15	$	39,998
	20,000,000	y	Chevron Corp		0.140		11/04/15		19,997
	30,000,000	y	Chevron Corp		0.210		11/10/15		29,993
	25,000,000	y	Chevron Corp		0.190		11/18/15		24,994
	25,000,000	y	Chevron Corp		0.180		11/23/15		24,993
	50,000,000	y	Chevron Corp		0.180-0.200		12/22/15		49,978
	9,500,000	y	Ciesco LLC		0.300		12/07/15		9,495
	19,900,000	y	Ciesco LLC		0.300		12/14/15		19,888
	14,390,000	y	Ciesco LLC		0.410		12/16/15		14,378
	3,290,000	y	Coca-Cola Co		0.160		11/17/15		3,289
	33,720,000	y	Commonwealth Bank of Australia		0.240-0.245		10/02/15		33,720
	6,000,000	y	Commonwealth Bank of Australia		0.255		11/10/15		5,998
	60,000,000	y	DBS Bank Ltd		0.240-0.300		11/09/15		59,982
	30,000,000	y	DBS Bank Ltd		0.190		11/17/15		29,993
	57,100,000	y	DBS Bank Ltd		0.310-0.320		12/03/15		57,069
	25,000,000		Exxon Mobil Corp		0.120		10/01/15		25,000
	30,000,000		Exxon Mobil Corp		0.130		10/06/15		29,999
	50,000,000		Exxon Mobil Corp		0.110		10/13/15		49,998
	10,000,000		Exxon Mobil Corp		0.140		10/16/15		9,999
	25,000,000		Exxon Mobil Corp		0.110		10/19/15		24,999
	25,000,000		Exxon Mobil Corp		0.145		10/26/15		24,998
	25,000,000		Exxon Mobil Corp		0.125		11/17/15		24,996
	25,000,000	y	Fairway Finance LLC		0.150		10/05/15		25,000
	27,600,000	y	Fairway Finance LLC		0.160		10/09/15		27,599
	25,000,000	y	Fairway Finance LLC		0.180		10/13/15		24,998
	10,000,000	y	Fairway Finance LLC		0.270		11/05/15		9,997
	13,730,000	y	Fairway Finance LLC		0.235		11/09/15		13,727
	27,000,000	y	Fairway Finance LLC		0.270		11/16/15		26,991
	20,000,000	y	Fairway Finance LLC		0.300		12/10/15		19,988
	20,000,000		General Electric Capital Corp		0.320		10/14/15		19,998
	35,000,000		General Electric Capital Corp		0.250		12/01/15		34,985
	50,000,000		General Electric Capital Corp		0.240		12/08/15		49,977
	7,250,000		General Electric Capital Corp		1.000		12/11/15		7,259
	14,000,000	y	Hydro-Quebec		0.140		10/01/15		14,000
	4,400,000	y	Hydro-Quebec		0.170		11/18/15		4,399
	20,000,000	y	Hydro-Quebec		0.160		12/01/15		19,995
	25,000,000	y	Johnson & Johnson		0.130		10/29/15		24,997
	37,500,000	y	Johnson & Johnson		0.120		11/02/15		37,496
	10,100,000	y	Jupiter Securitization Co LLC		0.340		11/30/15		10,094
	2,250,000	y	Jupiter Securitization Co LLC		0.370		12/03/15		2,249
	1,680,000	y	Jupiter Securitization Co LLC		0.370		12/07/15		1,679
	9,040,000	y	Jupiter Securitization Co LLC		0.380		12/08/15		9,034
	20,000,000	y	Jupiter Securitization Co LLC		0.260		12/15/15		19,989
	20,000,000		Korea Development Bank		0.220		10/19/15		19,998
	21,362,000		Korea Development Bank		0.250-0.265		10/30/15		21,357
	11,050,000		Korea Development Bank		0.220		11/02/15		11,048
	15,000,000		Korea Development Bank		0.240		11/06/15		14,996
	26,700,000		Korea Development Bank		0.240		11/13/15		26,692
	10,000,000		Korea Development Bank		0.230		11/17/15		9,997
	23,000,000		Korea Development Bank		0.240		11/24/15		22,992
	25,000,000		Korea Development Bank		0.290		12/21/15		24,984
	30,000,000	y	Liberty Street Funding LLC		0.240		10/19/15		29,996
	25,000,000	y	Liberty Street Funding LLC		0.250		10/20/15		24,997

399

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	50,000,000	y	Liberty Street Funding LLC		0.210	%	10/26/15	$	49,993
	30,300,000	y	Liberty Street Funding LLC		0.210		10/28/15		30,295
	62,700,000	y	Microsoft Corp		0.120		10/08/15		62,699
	32,000,000	y	Microsoft Corp		0.170		10/20/15		31,997
	22,380,000	y	Microsoft Corp		0.220		11/18/15		22,374
	40,000,000	y	Microsoft Corp		0.180		12/09/15		39,986
	30,000,000	y	Microsoft Corp		0.170		12/16/15		29,989
	15,475,000	y	Mitsubishi UFJ Trust & Banking Corp		0.200		11/17/15		15,471
	25,000,000	y	National Australia Bank Ltd		0.155		10/01/15		25,000
	47,500,000	y	National Australia Bank Ltd		0.155-0.210		10/08/15		47,498
	25,000,000	y	National Australia Bank Ltd		0.150		10/13/15		24,999
	25,000,000	y	National Australia Bank Ltd		0.225		11/02/15		24,995
	9,795,000	y	National Australia Bank Ltd		0.230		11/24/15		9,791
	25,000,000	y	National Australia Bank Ltd		0.275		12/02/15		24,988
	25,000,000	y	National Australia Bank Ltd		0.215		12/22/15		24,988
	15,000,000	y	National Australia Bank Ltd		0.220		12/29/15		14,992
	55,000,000	y	Nestle Capital Corp		0.130		10/07/15		54,999
	44,000,000	y	Nestle Capital Corp		0.135		10/14/15		43,998
	20,000,000	y	Nestle Capital Corp		0.140		10/21/15		19,998
	20,000,000	y	Nestle Capital Corp		0.135		10/27/15		19,998
	30,000,000	y	Nestle Capital Corp		0.185		11/04/15		29,995
	5,320,000	y	Nestle Capital Corp		0.305		01/11/16		5,315
	30,000,000	y	Nestle Capital Corp		0.335		01/19/16		29,969
	10,000,000	y	Nestle Capital Corp		0.315		01/28/16		9,990
	25,000,000	y	Nordea Bank AB		0.260		10/28/15		24,995
	10,000,000	y	Novartis Finance Corp		0.145		10/02/15		10,000
	7,500,000	y	Novartis Finance Corp		0.210		11/04/15		7,499
	5,000,000	y	Old Line Funding LLC		0.170		10/07/15		5,000
	3,000,000	y	Old Line Funding LLC		0.300		10/08/15		3,000
	30,000,000	y	Old Line Funding LLC		0.220		10/19/15		29,997
	25,000,000	y	Old Line Funding LLC		0.250		11/25/15		24,990
	30,000,000	y	Old Line Funding LLC		0.320		12/07/15		29,982
	25,000,000	y	Old Line Funding LLC		0.260		12/18/15		24,986
	17,470,000		PACCAR Financial Corp		0.140		10/13/15		17,469
	12,800,000		PACCAR Financial Corp		0.210		10/14/15		12,799
	13,000,000		PACCAR Financial Corp		0.160		10/27/15		12,998
	4,715,000		PACCAR Financial Corp		0.230		12/18/15		4,713
	50,000,000	y	Pfizer, Inc		0.150		10/23/15		49,996
	30,000,000	y	Pfizer, Inc		0.160		11/12/15		29,994
	15,000,000	y	Pfizer, Inc		0.260		12/03/15		14,993
	17,205,000	y	Pfizer, Inc		0.270		12/17/15		17,195
	16,000,000		Province of British Columbia Canada		0.145		10/15/15		15,999
	25,000,000		Province of British Columbia Canada		0.150		10/21/15		24,998
	20,000,000		Province of British Columbia Canada		0.150		10/23/15		19,998
	38,000,000		Province of British Columbia Canada		0.170		11/17/15		37,992
	27,100,000		Province of British Columbia Canada		0.150-0.170		11/19/15		27,094
	2,390,000		Province of British Columbia Canada		0.150		11/20/15		2,389
	35,000,000		Province of British Columbia Canada		0.190		11/23/15		34,990
	30,000,000		Province of British Columbia Canada		0.195		11/25/15		29,991
	18,500,000		Province of British Columbia Canada		0.215		12/07/15		18,493
	6,850,000		Province of British Columbia Canada		0.230		01/06/16		6,846
	12,570,000		Province of British Columbia Canada		0.250		01/20/16		12,560
	34,586,000		Province of Ontario Canada		0.130		10/05/15		34,586

400

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	45,000,000		Province of Ontario Canada		0.120-0.130	%	10/06/15	$	44,999
	25,000,000		Province of Ontario Canada		0.140		10/23/15		24,998
	25,000,000		Province of Ontario Canada		0.140		10/27/15		24,997
	43,115,000		Province of Ontario Canada		0.140		10/30/15		43,110
	18,255,000		Province of Ontario Canada		0.160		12/01/15		18,250
	45,000,000		Province of Ontario Canada		0.180		12/16/15		44,983
	9,400,000	y	Province of Quebec Canada		0.140		10/02/15		9,400
	50,000,000	y	Province of Quebec Canada		0.135		10/26/15		49,995
	40,000,000	y	Province of Quebec Canada		0.150		11/02/15		39,995
	8,202,000	y	Province of Quebec Canada		0.170		11/20/15		8,200
	30,000,000	y	Province of Quebec Canada		0.160		12/07/15		29,991
	40,000,000	y	Province of Quebec Canada		0.160-0.180		12/16/15		39,985
	45,675,000	y	Province of Quebec Canada		0.180		12/17/15		45,658
	40,000,000	y	PSP Capital, Inc		0.140		10/05/15		39,999
	23,065,000	y	PSP Capital, Inc		0.170		10/06/15		23,064
	7,000,000	y	PSP Capital, Inc		0.180		10/08/15		7,000
	40,000,000	y	PSP Capital, Inc		0.175		10/13/15		39,998
	10,000,000	y	PSP Capital, Inc		0.190		10/15/15		9,997
	10,000,000	y	PSP Capital, Inc		0.200		11/05/15		9,998
	20,000,000	y	PSP Capital, Inc		0.250		11/09/15		19,995
	44,700,000	y	PSP Capital, Inc		0.240		11/10/15		44,688
	13,000,000	y	PSP Capital, Inc		0.260		11/19/15		12,995
	25,000,000	y	PSP Capital, Inc		0.200		11/23/15		24,993
	17,000,000	y	PSP Capital, Inc		0.280		11/24/15		16,993
	25,000,000		Royal Bank of Canada		0.190		11/04/15		24,996
	25,000,000		Royal Bank of Canada		0.190		12/23/15		24,989
	55,500,000	y	Svenska Handelsbanken AB		0.265-0.300		11/23/15		55,476
	30,000,000	y	Svenska Handelsbanken AB		0.300		11/30/15		29,985
	25,000,000	y	Svenska Handelsbanken AB		0.270		12/17/15		24,986
	5,200,000	y	Thunder Bay Funding LLC		0.200		10/15/15		5,200
	9,600,000	y	Thunder Bay Funding LLC		0.270		11/20/15		9,596
	25,000,000	y	Toronto-Dominion Holdings USA, Inc		0.270		11/20/15		24,991
	20,000,000	y	Toronto-Dominion Holdings USA, Inc		0.280		12/01/15		19,990
	57,000,000		Toyota Motor Credit Corp		0.170-0.220		10/22/15		56,993
	26,500,000	y	Unilever Capital Corp		0.160		10/05/15		26,500
	26,750,000	y	Unilever Capital Corp		0.150		10/13/15		26,749
	25,000,000	y	Unilever Capital Corp		0.160		10/26/15		24,997
	20,200,000	y	Unilever Capital Corp		0.200-0.210		11/09/15		20,195
	25,000,000	y	Unilever Capital Corp		0.210		11/16/15		24,993
	2,235,000	y	Unilever Capital Corp		0.220		11/30/15		2,234
	34,250,000	y	Unilever Capital Corp		0.160		12/14/15		34,239
	30,000,000	y	United Overseas Bank Ltd		0.250		10/09/15		29,998
	25,000,000	y	United Overseas Bank Ltd		0.300		11/16/15		24,990
	15,000,000	y	Wal-Mart Stores, Inc		0.150		10/27/15		14,998
	20,000,000	y	Wal-Mart Stores, Inc		0.160		10/29/15		19,998
	62,345,000	y	Wal-Mart Stores, Inc		0.145-0.150		10/30/15		62,338
	30,000,000	y	Wal-Mart Stores, Inc		0.170		11/09/15		29,994
			TOTAL COMMERCIAL PAPER						4,486,886
CORPORATE DEBT - 0.2%
	24,000,000		General Electric Co		0.850		10/09/15		24,003
			TOTAL CORPORATE DEBT						24,003

401

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
GOVERNMENT AGENCY DEBT - 27.1%
$	50,000,000	Federal Farm Credit Bank (FFCB)		0.100	%	11/19/15	$	49,993
	108,655,000	Federal Home Loan Bank (FHLB)		0.070-0.110		10/02/15		108,655
	10,000,000	FHLB		0.077		10/05/15		10,000
	104,624,000	FHLB		0.080-0.125		10/07/15		104,622
	31,000,000	FHLB		0.080		10/08/15		30,999
	96,315,000	FHLB		0.080-0.095		10/09/15		96,313
	21,770,000	FHLB		0.093		10/13/15		21,769
	117,820,000	FHLB		0.085-0.165		10/14/15		117,816
	4,300,000	FHLB		0.120		10/15/15		4,300
	36,765,000	FHLB		0.110-0.145		10/16/15		36,763
	76,815,000	FHLB		0.095-0.170		10/19/15		76,810
	40,000,000	FHLB		0.160		10/20/15		39,997
	62,410,000	FHLB		0.100-0.145		10/21/15		62,406
	55,000,000	FHLB		0.135-0.138		10/22/15		54,996
	121,595,000	FHLB		0.090-0.150		10/23/15		121,587
	2,000,000	FHLB		0.160		10/26/15		2,000
	58,700,000	FHLB		0.113-0.140		10/28/15		58,695
	60,830,000	FHLB		0.125		10/30/15		60,824
	74,900,000	FHLB		0.100-0.165		11/02/15		74,892
	11,700,000	FHLB		0.155		11/03/15		11,698
	30,000,000	FHLB		0.100-0.170		11/04/15		29,996
	4,000,000	FHLB		0.100		11/05/15		4,000
	40,000,000	FHLB		0.165-0.175		11/06/15		39,993
	62,083,000	FHLB		0.160-0.165		11/09/15		62,072
	14,000,000	FHLB		0.175		11/10/15		13,997
	39,150,000	FHLB		0.055-0.185		11/13/15		39,144
	54,115,000	FHLB		0.173-0.220		11/16/15		54,103
	6,620,000	FHLB		0.185		11/17/15		6,618
	68,905,000	FHLB		0.110-0.220		11/18/15		68,888
	85,100,000	FHLB		0.175-0.220		11/20/15		85,077
	25,000,000	FHLB		0.100		11/23/15		24,996
	95,000,000	FHLB		0.100-0.200		11/24/15		94,978
	37,900,000	FHLB		0.120-0.200		11/25/15		37,889
	56,500,000	FHLB		0.120-0.200		12/01/15		56,483
	22,730,000	FHLB		0.130-0.190		12/02/15		22,724
	30,000,000	FHLB		0.090		12/04/15		29,995
	30,000,000	FHLB		0.110		12/07/15		29,994
	9,105,000	FHLB		0.200		12/09/15		9,101
	48,000,000	FHLB		0.230		12/11/15		47,978
	18,760,000	FHLB		0.190		12/14/15		18,753
	17,923,000	FHLB		0.220		12/17/15		17,915
	80,000,000	FHLB		0.160-0.270		12/18/15		79,965
	9,430,000	FHLB		0.270		12/21/15		9,424
	28,220,000	FHLB		0.235-0.270		12/23/15		28,204
	50,000,000	FHLB		0.150		12/28/15		49,982
	30,000,000	FHLB		0.160		12/30/15		29,988
	5,400,000	FHLB		0.210-0.241		01/04/16		5,397
	5,600,000	FHLB		0.200-0.225		01/08/16		5,597
	4,225,000	FHLB		0.180		01/20/16		4,223
	26,821,000	FHLB		0.170-0.220		01/22/16		26,804
	22,175,000	FHLB		0.180-0.305		01/25/16		22,154

402

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	65,000,000	FHLB		0.170	%	01/26/16	$	64,964
	3,200,000	FHLB		0.340		01/27/16		3,196
	30,279,000	Federal Home Loan Mortgage Corp (FHLMC)		0.110		10/01/15		30,279
	25,000,000	FHLMC		0.065		10/05/15		25,000
	7,700,000	FHLMC		0.070-0.079		10/13/15		7,700
	40,114,000	FHLMC		0.075-0.095		10/15/15		40,113
	10,660,000	FHLMC		0.120-0.130		10/19/15		10,659
	30,453,000	FHLMC		0.105-0.128		10/20/15		30,451
	3,000,000	FHLMC		0.095		10/22/15		3,000
	90,000,000	FHLMC		0.075-0.130		10/27/15		89,994
	10,000,000	FHLMC		0.095		10/29/15		9,999
	52,000,000	FHLMC		0.140-0.155		11/03/15		51,993
	25,000,000	FHLMC		0.045		11/04/15		24,999
	20,077,000	FHLMC		0.175		11/13/15		20,073
	20,550,000	FHLMC		0.240-0.260		11/16/15		20,543
	14,000,000	FHLMC		0.190		12/02/15		13,995
	380,000	FHLMC		0.155		12/04/15		380
	25,000,000	FHLMC		0.125		12/15/15		24,993
	3,325,000	FHLMC		0.150		12/16/15		3,324
	17,810,000	FHLMC		0.160		12/28/15		17,803
	26,200,000	FHLMC		0.165		01/20/16		26,187
	700,000	FHLMC		0.200		01/21/16		700
	25,000,000	FHLMC		0.240		01/26/16		24,980
	14,100,000	FHLMC		0.280-0.330		01/27/16		14,087
	12,000,000	FHLMC		0.180		01/29/16		11,993
	10,000,000	Federal National Mortgage Association (FNMA)		0.075		10/01/15		10,000
	17,700,000	FNMA		0.062		10/07/15		17,700
	4,500,000	FNMA		0.100		10/15/15		4,500
	13,785,000	FNMA		0.110		10/19/15		13,784
	25,000,000	FNMA		0.130		10/21/15		24,998
	30,000,000	FNMA		0.148		11/03/15		29,996
	75,000,000	FNMA		0.170-0.175		11/12/15		74,985
	5,000,000	FNMA		0.170		11/16/15		4,999
	64,240,000	FNMA		0.165-0.175		11/18/15		64,225
	13,000,000	FNMA		0.195		11/25/15		12,996
	24,048,000	FNMA		0.200		12/02/15		24,040
	4,047,000	FNMA		0.195		12/15/15		4,045
	13,300,000	FNMA		0.195-0.248		12/16/15		13,294
	2,600,000	FNMA		0.220		12/23/15		2,599
	23,000,000	FNMA		0.110-0.150		12/30/15		22,992
	8,520,000	FNMA		0.160		01/04/16		8,516
	3,000,000	FNMA		0.150		01/05/16		2,999
	8,100,000	FNMA		0.225		01/14/16		8,095
	275,000	FNMA		0.250		02/08/16		275
		TOTAL GOVERNMENT AGENCY DEBT						3,118,010
TREASURY DEBT - 16.3%
	10,000,000	United States Treasury Bill		0.101		10/01/15		10,000
	11,805,000	United States Treasury Bill		0.026-0.047		10/08/15		11,805
	40,000,000	United States Treasury Bill		0.040-0.055		10/22/15		39,999
	80,000,000	United States Treasury Bill		0.035-0.062		10/29/15		79,997
	55,000,000	United States Treasury Bill		0.046-0.079		11/05/15		54,996
	75,000,000	United States Treasury Bill		0.057-0.160		11/12/15		74,993

403

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	45,240,000		United States Treasury Bill		0.032-0.105	%	11/19/15	$	45,235
	10,000,000		United States Treasury Bill		0.088		11/27/15		9,999
	49,210,000		United States Treasury Bill		0.068-0.135		12/03/15		49,202
	20,435,000		United States Treasury Bill		0.041-0.121		12/10/15		20,431
	23,275,000		United States Treasury Bill		0.035-0.081		12/17/15		23,272
	40,000,000		United States Treasury Bill		0.061-0.109		12/24/15		39,992
	50,000,000		United States Treasury Bill		0.064-0.150		01/07/16		49,986
	50,000,000		United States Treasury Bill		0.110		01/14/16		49,984
	7,000,000		United States Treasury Bill		0.095		01/28/16		6,998
	52,055,000		United States Treasury Bill		0.196-0.218		02/04/16		52,017
	40,000,000		United States Treasury Bill		0.155-0.229		02/11/16		39,972
	10,000,000		United States Treasury Bill		0.032		02/18/16		9,999
	24,355,000		United States Treasury Bill		0.215-0.233		02/25/16		24,333
	35,000,000		United States Treasury Bill		0.235-0.249		03/03/16		34,964
	25,000,000		United States Treasury Bill		0.246-0.257		03/10/16		24,971
	100,000,000		United States Treasury Note		0.250		10/15/15		100,003
	51,305,000		United States Treasury Note		0.375		11/15/15		51,323
	100,000,000		United States Treasury Note		0.250		11/30/15		100,016
	88,295,000		United States Treasury Note		0.250		12/15/15		88,310
	25,000,000		United States Treasury Note		0.250		12/31/15		25,003
	100,000,000		United States Treasury Note		0.375		01/15/16		100,057
	50,000,000		United States Treasury Note		0.375		01/31/16		50,031
	25,000,000		United States Treasury Note		0.375		02/15/16		25,021
	100,000,000		United States Treasury Note		0.250		02/29/16		100,017
	110,000,000		United States Treasury Note		0.375		03/15/16		110,070
	100,000,000		United States Treasury Note		0.375		03/31/16		100,069
	100,000,000		United States Treasury Note		0.250		04/15/16		100,013
	54,015,000		United States Treasury Note		0.375		05/31/16		54,059
	30,120,000		United States Treasury Note		0.500		06/15/16		30,153
	30,000,000		United States Treasury Note		0.500		06/30/16		30,057
	60,000,000		United States Treasury Note		0.625		07/15/16		60,108
			TOTAL TREASURY DEBT						1,877,455
VARIABLE RATE SECURITIES - 14.6%
	65,000,000	i	Federal Farm Credit Bank (FFCB)		0.135		10/01/15		65,000
	50,000,000	i	FFCB		0.145		11/04/15		50,000
	70,000,000	i	FFCB		0.200		01/13/16		70,000
	60,100,000	i	FFCB		0.250		02/01/16		60,114
	20,000,000	i	FFCB		0.140		03/29/16		19,996
	50,000,000	i	FFCB		0.186		04/21/16		49,996
	36,000,000	i	FFCB		0.280		06/09/16		36,024
	45,000,000	i	FFCB		0.170		06/23/16		44,993
	150,000,000	i	FFCB		0.173		08/10/16		149,979
	50,000,000	i	FFCB		0.176		08/24/16		49,987
	10,000,000	i	FFCB		0.224		10/11/16		10,002
	22,000,000	i	FFCB		0.170		01/13/17		22,000
	120,000,000	i	FFCB		0.176		01/24/17		119,993
	10,275,000	i	FFCB		0.155		01/30/17		10,260
	76,000,000	i	FFCB		0.199		03/02/17		76,000
	50,000,000	i	FFCB		0.250		03/09/17		49,971
	15,200,000	i	FFCB		0.250		04/10/17		15,202
	105,000,000	i	FFCB		0.202		06/15/17		104,987
	72,000,000	i	FFCB		0.187		07/17/17		71,991

404

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	50,000,000	i	FFCB		0.220	%	08/04/17	$	49,981
	40,000,000	i	Federal Home Loan Bank (FHLB)		0.157		11/27/15		40,000
	16,500,000	i	FHLB		0.162		01/30/17		16,493
	60,000,000	i	FHLB		0.186		02/17/17		59,968
	50,000,000	i	Federal Home Loan Mortgage Corp (FHLMC)		0.211		07/21/16		49,996
	50,000,000	i	FHLMC		0.211		01/13/17		49,993
	21,497,000	i	Federal National Mortgage Association (FNMA)		0.227		08/15/16		21,503
	94,500,000	i	FNMA		0.219		08/16/17		94,482
	17,378,000	i	General Electric Capital Corp		0.933		12/11/15		17,399
	50,000,000	i	General Electric Capital Corp		0.264		12/29/15		50,000
	50,000,000	i	Wells Fargo Bank NA		0.310		10/06/15		50,000
	50,000,000	i	Wells Fargo Bank NA		0.290		11/20/15		50,001
	50,000,000	i	Wells Fargo Bank NA		0.320		03/10/16		50,000
			TOTAL VARIABLE RATE SECURITIES						1,676,311
			TOTAL SHORT-TERM INVESTMENTS						11,517,455
			(Cost $11,517,455)
			TOTAL INVESTMENTS - 100.0%						11,517,455
			(Cost $11,517,455)
			OTHER ASSETS & LIABILITIES, NET - 0.0%						3,970
			NET ASSETS - 100.0%					$	11,521,425

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 resold in transactions exempt from registration only to dealers in that program or other “accredited investors.” At 9/30/2015, the aggregate value of these securities was $3,245,638,000, or 28.2% of net assets.
	Cost amounts are in thousands.

405

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 Accounts are investment companies and follow the accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services—Investment Companies. 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 schedule of investments. Investments held by the Money Market Account are recorded at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter accreting or amortizing any discount or premium to its face value at a constant rate until maturity.

Investment transactions: Security 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.

New accounting pronouncement: In May 2015, the Financial Accounting Standards Board issued Accounting Standards Update No. 2015-07 Fair Value Measurement (Topic 820) Disclosures in Certain Entities That Calculate Net Asset Value per Share (the “Update”). The Update removes the requirement to categorize all investments for which the fair value is measured using the net asset value per share practical expedient from the fair value hierarchy. The Update also removes the requirement to make certain disclosures for investments that are eligible to be measured at fair value using the net asset value per share practical expedient. The Update is effective for public business entities for fiscal years beginning December 15, 2015, and for interim periods within those fiscal years. The Accounts expect to adopt the Update for the December 31, 2015 annual report. Management is currently evaluating the impact of the Update’s adoption on the Accounts’ financial statements and notes disclosures.

New rule issuance: In July 2014, the Commission issued Final Rule Release No. 33-9616, Money Market Account Reform; Amendments to Form PF, which amends the rules governing money market accounts. The final amendments impose different implementation dates for the changes that certain money market accounts will need to make. Management has implemented changes that were effective in 2015 and will continue to evaluate the implications of these amendments and the impact of the Final Rule to the Account’s financial statements and related disclosures.

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 equity securities are valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. 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.

406

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

Debt securities: Debt securities, including equity-linked notes, 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: Prior to January 2, 2015, short-term investments with maturities of 60 days or less were valued at amortized cost. Short-term investments with maturities in excess of 60 days were valued in the same manner as debt securities. Effective January 2, 2015, all short-term investments are valued in the same manner as debt securities. Short-term investments are generally categorized in Level 2 of the fair value hierarchy.

The Money Market Account: The Money Market Account’s portfolio securities are valued on an amortized cost basis. Money Market 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, which are traded on commodity exchanges, are valued at the last sale price as of the close of such commodity exchanges and are categorized in Level 1 of the fair value hierarchy.

Options: Purchased and written options listed or traded on a national market or exchange are valued at the last sale price as of the close of such exchange 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.

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

Transfers between levels are recognized at the end of the reporting period. For the period ended September 30, 2015, there were no material transfers between levels by the Accounts.

As of September 30, 2015, 100% of the value of investments in the Inflation-Linked Bond and Money Market Accounts were valued based on Level 2 inputs.

407

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

The following table summarizes the market value of the Accounts’ investments as of September 30, 2015, based on the inputs used to value them (dollar amounts are in thousands):

Account	Level 1			Level 2		Level 3		Total
Stock
Equity investments:
Consumer discretionary	$	11,169,356		$	4,830,818	$	486	$	16,000,660
Consumer staples		6,234,651			3,337,884		32		9,572,567
Energy		4,774,756			1,797,294		1		6,572,051
Financials		13,112,341			8,686,331		359		21,799,031
Health care		11,034,403			3,171,282		7,075		14,212,760
Industrials		7,849,012			4,075,917		13,999		11,938,928
Information technology		15,281,610			2,750,330		72		18,032,012
Materials		2,420,600			2,311,629		5,719		4,737,948
Telecommunication services		1,598,052			1,445,913		497		3,044,462
Utilities		2,299,612			1,002,692		14		3,302,318
Corporate bonds		-			589		460		1,049
Government bonds		-			301		-		301
Purchased options**		15			-		-		15
Written options**		(53	)		-		-		(53	)
Short-term investments		-			5,531,324		-		5,531,324
Futures**		(3,391	)		-		-		(3,391	)
Total	$	75,770,964		$	38,942,304	$	28,714	$	114,741,982
Global Equities
Equity investments:
Asia	$	-		$	1,449,051	$	-	$	1,449,051
Australasia		-			273,945		-		273,945
Europe		268,155			3,447,855		-		3,716,010
North America		10,161,658			554,278		-		10,715,936
All other equity investments*		83,229			1,397,719		4,690		1,485,638
Short-term investments		-			639,344		-		639,344
Futures**		(1,610	)		-		-		(1,610	)
Total	$	10,511,432		$	7,762,192	$	4,690	$	18,278,314
Growth
Equity investments:
Consumer discretionary	$	4,798,519		$	109,282	$	-	$	4,907,801
Consumer staples		1,392,139			72,473		-		1,464,612
Financials		1,284,336			9,489		-		1,293,825
Health care		3,372,294			49,527		-		3,421,821
Industrials		1,933,304			89,652		-		2,022,956
Information technology		6,283,536			38,775		-		6,322,311
Telecommunication services		187,169			13,790		-		200,959
All other equity investments*		788,929			-		-		788,929
Short-term investments		571,849			131,796		-		703,645
Futures**		(1,010	)		-		-		(1,010	)
Total	$	20,611,065		$	514,784	$	-	$	21,125,849

408

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

Account	Level 1			Level 2		Level 3		Total
Equity Index
Equity investments:
Consumer staples	$	1,343,170		$	576	$	-	$	1,343,746
Health care		2,222,216			-		82		2,222,298
Industrials		1,645,524			13,131		-		1,658,655
Information technology		3,022,533			1,152		-		3,023,685
Telecommunication services		335,716			-		118		335,834
All other equity investments*		6,938,140			-		-		6,938,140
Short-term investments		624,287			-		-		624,287
Futures**		(7	)		-		-		(7	)
Total	$	16,131,579		$	14,859	$	200	$	16,146,638
Bond Market
Bank loan obligations	$	-		$	102,010	$	-	$	102,010
Corporate bonds		-			4,829,605		-		4,829,605
Government bonds		-			6,344,488		-		6,344,488
Structured assets		-			1,958,852		-		1,958,852
Preferred Stocks		9,712			-		-		9,712
Short-term investments		-			1,652,373		-		1,652,373
Total	$	9,712		$	14,887,328	$	-	$	14,897,040
Social Choice
Equity investments:
Consumer discretionary	$	707,940		$	313,508	$	-	$	1,021,448
Consumer staples		412,567			216,870		-		629,437
Energy		374,282			137,764		-		512,046
Financials		1,136,784			633,802		-		1,770,586
Health care		780,505			254,794		-		1,035,299
Industrials		540,743			290,000		-		830,743
Information technology		1,016,695			100,469		-		1,117,164
Materials		229,400			158,080		-		387,480
Telecommunication services		100,600			111,181		-		211,781
Utilities		185,975			91,714		-		277,689
Bank loan obligations		-			48,224		-		48,224
Corporate bonds		-			1,550,202		-		1,550,202
Government bonds		-			3,141,641		-		3,141,641
Structured assets		-			456,083		-		456,083
Short-term investments		-			959,272		-		959,272
Total	$	5,485,491		$	8,463,604	$	-	$	13,949,095

*	For detailed categories, see the accompanying Schedule of Investments.
**	Derivative instruments, excluding purchased options, are not reflected in the Schedules of Investments.

409

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

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 variables. 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 receipts or payments are settled daily reflecting 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 closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures, there is minimal counterparty credit risk to the Accounts since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures against default.

At September 30, 2015, the Accounts held the following open futures contracts (dollar amounts are in thousands):

Account	Futures	Number of contracts	Settlement value		Expiration date	Unrealized gain (loss)
Stock	S&P 500 Index E-Mini	1,778	$	169,684	December 2015	$	(2,168	)
	S&P Mid-Cap 400 E-Mini	153		20,852	December 2015		(546	)
	Russell 2000 Mini Index	148		16,219	December 2015		(677	)
Total		2,079	$	206,755		$	(3,391	)
Global Equities	S&P 500 Index E-Mini	1,309		124,924	December 2015		(1,610	)
Growth	S&P 500 Index E-Mini	900		85,892	December 2015		(1,010	)
Equity Index	S&P 500 Index E-Mini	13		1,241	December 2015		-
	S&P Mid-Cap 400 E-Mini	2		272	December 2015		(2	)
	Russell 2000 Mini Index	3		329	December 2015		(5	)
Total		18	$	1,842		$	(7	)

Options: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. The Accounts use options contracts for hedging and cash management purposes and to seek to increase total return. Call and put options give the holder the right, in return for a premium paid, to purchase or sell, respectively, a security at a specified exercise price at any time during the period of the option. Purchased options are included in the schedule of investments. Premiums on unexercised, expired options are recorded as realized gains or losses; premiums on exercised options are recorded as an adjustment to the proceeds from the sale or cost of the purchase. The difference between the premium and the amount received or paid in a closing transaction is also treated as a realized gain or loss. Risks related to the use of options include possible illiquidity of the options markets and price movements in underlying security values.

Purchased options outstanding as of September 30, 2015 were as follows (dollar amounts are in thousands):

	Number of contracts	Value
Stock Account
Apple, Inc, Put, 10/2/15 at $110	25	$	3
Biogen, Inc, Call, 10/16/15 at $300	10		7
Exxon Mobil Corp, Put, 10/2/15 at $72	30		-
Pioneer Natural Resources Co, Call, 10/2/15 at $127	15		1
Pioneer Natural Resources Co, Call, 10/2/15 at $131	80		2
Pioneer Natural Resources Co, Put, 10/2/15 at $109	80		2
Total	240	$	15

410

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

Written options outstanding as of September 30, 2015 were as follows (dollar amounts are in thousands):     

	Number of Contracts		Value
Stock Account
Amazon.com, Inc, Put, 10/2/15 at $400		5	$	-
Apple, Inc, Put, 10/2/15 at $107		50		(2	)
Avago Technologies Ltd, Call, 10/16/15 at $145		15		-
Biogen, Inc, Call,  10/2/15 at $300		50		(7	)
Biogen, Inc, Call, 10/16/15 at $312.50		20		(6	)
Biogen, Inc, Put, 10/2/15 at $230		10		-
Celgene Corp, Put, 10/2/15 at $99		20		-
Exxon Mobil Corp, Put, 10/2/15 at $70.50		60		-
Freescale Semiconductor Ltd, Call, 10/16/15 at $40		20		(1	)
Google, Inc, Put, 10/9/15 at $500		5		-
Pioneer Natural Resources Co, Call, 10/2/15 at $130		95		(2	)
Pioneer Natural Resources Co, Put, 10/2/15 at $110		80		(3	)
Pioneer Natural Resources Co, Put, 10/2/15 at $115		15		(1	)
Pioneer Natural Resources Co, Put, 12/18/15 at $120		10		(9	)
Pioneer Natural Resources Co, Put, 12/18/15 at $130		15		(22	)
Total		470	$	(53	)

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 affiliate companies is as follows (dollar amounts are in thousands):

	Value at		Purchase		Sales		Realized		Dividend		Shares at			Value at
Issue	December 31, 2014		cost		proceeds		gain (loss)		income		September 30, 2015			September 30, 2015
Stock Account
Berry Plastics Group Inc	$	226,929	$	44,668	$	59,298	$	22,383	$	-		6,899,604		$	207,471
Papa Murphy’s Holdings Inc		11,747		192		6,699		2,712		-		-	**		-
	$	238,676	$	44,860	$	65,997	$	25,095	$	-				$	207,471
Growth Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	417,995	$	439,577	$	285,723	$	-	$	-		571,848,831		$	571,849
Equity Index Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	564,844	$	236,486	$	177,043	$	-	$	-		624,287,440		$	624,287

** Not an affiliate investment as of September 30, 2015

411

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

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; any additional collateral required due to changes in security values is delivered to the Account the next business day. Cash collateral received by the Account will generally be invested in high-quality short-term instruments or in one or more funds maintained by the securities lending agent (“Agent”) for the purpose of investing cash collateral. As of September 30, 2015, securities lending transactions (with the exception of the CREF Social Choice Account) are for equity securities, and the resulting loans are continuous, can be recalled at any time, and have no set maturity. For the CREF Social Choice Account, all loans from securities lending transactions are continuous, can be recalled at any time, and have no set maturity, with $241,241,000 of equity securities pledged as collateral and $119,440,000 of fixed income securities pledged as collateral. Securities lending income recognized by the Accounts consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and compensation to the Agent. In lending its securities, an Account bears the market risk with respect to the investment of collateral and the risk that the Agent may default on its contractual obligations to the Account. The Agent bears the risk that the borrower may default on its obligation to return the loaned securities as the Agent is contractually obligated to indemnify the Account if at the time of a default by a borrower some or all of the loan securities have not been returned.

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.

Mortgage 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.

412

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

Net unrealized appreciation (depreciation): At September 30, 2015, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation was as follows (dollar amounts are in thousands): 

Account		Gross unrealized appreciation	Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Stock	$	9,863,444	$	(10,874,031	)	$	(1,010,587	)
Global Equities		1,906,702		(1,473,941	)		432,761
Growth		3,663,428		(806,823	)		2,856,605
Equity Index		6,988,123		(750,539	)		6,237,584
Bond Market		224,349		(172,561	)		51,788
Inflation-Linked Bond		365,278		(161,341	)		203,937
Social Choice		1,997,047		(512,062	)		1,484,985

413

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:  November 19, 2015	By:	/s/ Robert G. Leary
		Robert G. Leary
		Principal Executive Officer and Executive Vice President

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

Date:  November 19, 2015	By:	/s/ Robert G. Leary
		Robert G. Leary
		Principal Executive Officer and Executive Vice President
		(principal executive officer)

Date: November 19, 2015	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

EX-99.CERT

Exhibit 3(a)

CERTIFICATION

I, Robert G. Leary, certify that:

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

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

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

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

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

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

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

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

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

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

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

Date:  November 19, 2015	By:	/s/ Robert G. Leary
		Robert G. Leary Principal Executive Officer and Executive Vice President (principal executive officer)

Exhibit 3(b)

CERTIFICATION

I, Virginia M. Wilson, certify that:

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

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

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

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

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

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

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

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

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

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

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

Date:  November 19, 2015	By:	/s/ Virginia M. Wilson
		Virginia M. Wilson Executive Vice President, Chief Financial Officer and Principal Accounting Officer (principal financial officer)