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)

F. Scott Thomas, 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: March 31, 2016

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2016

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (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		411
			TOTAL DIVERSIFIED FINANCIALS						411
FOOD, BEVERAGE & TOBACCO - 0.0%
BRL	800	m	Marfrig Global Foods S.A.		1.000		01/25/17		23
			TOTAL FOOD, BEVERAGE & TOBACCO						23
			TOTAL CORPORATE BONDS						434
			(Cost $520)
GOVERNMENT BONDS -  0.0%
U.S. TREASURY SECURITIES - 0.0%
$	300,000		United States Treasury Note		1.750		05/15/22		305
			TOTAL U.S. TREASURY SECURITIES						305
			TOTAL GOVERNMENT BONDS						305
			(Cost $302)
			TOTAL BONDS						739
			(Cost $822)
SHARES			COMPANY
COMMON STOCKS - 99.2%
AUTOMOBILES & COMPONENTS - 2.1%
	196,085		Actron Technology Corp						783
	277,700		Aisan Industry Co Ltd						2,183
	732,101		Aisin Seiki Co Ltd						27,556
	67,200	e	Akebono Brake Industry Co Ltd						161
	428,481	*	American Axle & Manufacturing Holdings, Inc						6,594
	456,959		Apollo Tyres Ltd						1,207
	58,706	e	ARB Corp Ltd						675
	62,865	*	Asahi India Glass Ltd						144

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	3,620	e	Autoliv, Inc	$	429
	12,609		Autoneum Holding AG.		3,241
	138,282		Bajaj Holdings and Investment Ltd		5,025
	38,049		Balkrishna Industries Ltd		363
	356,952		Bayerische Motoren Werke AG.		32,770
	14,689		Bayerische Motoren Werke AG. (Preference)		1,173
	105,339		Bharat Forge Ltd		1,388
	195,679		BorgWarner, Inc		7,514
	12,312		Bosch Ltd		3,866
	145,778		Brembo S.p.A.		7,537
	929,642		Bridgestone Corp		34,697
	5,411,900		Brilliance China Automotive Holdings Ltd		5,607
	800,700	e	Byd Co Ltd		4,609
	584,000		Calsonic Kansei Corp		4,339
	45,392		Ceat Ltd		745
	539,000	*,e	Chaowei Power Holdings Ltd		336
	3,677,200		Cheng Shin Rubber Industry Co Ltd		7,391
	1,509,000		China Motor Corp		1,082
	1,410,742		Chongqing Changan Automobile Co Ltd		2,638
	166,972	e	Cie Automotive S.A.		3,002
	176,419		Compagnie Plastic-Omnium S.A.		6,059
	185,744		Continental AG.		42,129
	247,244	e	Cooper Tire & Rubber Co		9,153
	71,679	*	Cooper-Standard Holding, Inc		5,149
	30,341		Cub Elecparts, Inc		370
	20,201		Dae Won Kang Up Co Ltd		81
	27,100		Daido Metal Co Ltd		209
	73,767	e	Daihatsu Motor Co Ltd		1,039
	71,100		Daikyonishikawa Corp		1,019
	1,686,200		Daimler AG. (Registered)		129,049
	520,630		Dana Holding Corp		7,336
	3,588,656		Delphi Automotive plc		269,221
	536,401		Denso Corp		21,531
	274,000		Depo Auto Parts Ind Co Ltd		899
	17,455		Dong Ah Tire & Rubber Co Ltd		417
	10,209,050		Dongfeng Motor Group Co Ltd		12,767
	64,974	*,e	Dorman Products, Inc		3,536
	232,500		Double Coin Holdings Ltd		300
	2,319,000		Drb-Hicom BHD		606
	86,704		Drew Industries, Inc		5,589
	22,000		Eagle Industry Co Ltd		290
	10,103		EGE Endustri VE Ticaret AS.		1,143
	31,216		ElringKlinger AG.		852
	28,382	e	Exedy Corp		627
	303,463		Exide Industries Ltd		639
	1,120,365		Faurecia		42,416
	34,800		FCC Co Ltd		587
	385,108		Federal Corp		178
	77,117	*	Federal Mogul Corp (Class A)		762
	187,461	*,e	Ferrari NV		7,786
	1,825,231	e	Fiat DaimlerChrysler Automobiles NV		14,729
	6,041,772		Ford Motor Co		81,564

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	51,140		Ford Otomotiv Sanayi AS	$	674
	42,218	*	Fox Factory Holding Corp		667
	729,225		Fuji Heavy Industries Ltd		25,751
	42,597	e	Futaba Industrial Co Ltd		170
	6,038,675		Geely Automobile Holdings Ltd		2,995
	85,268,000	*,e,m	General Motors Co		0
	18,507,434	*,m	General Motors Co		0
	2,598,115		General Motors Co		81,659
	722,689	*,e,m	General Motors Co		0
	7,950,000	*,m	General Motors Co		0
	40,684,487	*,m	General Motors Co		0
	26,439,191	*,m	General Motors Co		0
	4,230,271	*,e,m	General Motors Co		0
	6,062,000	*,m	General Motors Co		0
	35,983,677	*,m	General Motors Co		0
	24,057,000	*,m	General Motors Co		0
	821,023	e	Gentex Corp		12,882
	132,212	*	Gentherm, Inc		5,499
	1,764,469		GKN plc		7,306
	30,201		Global & Yuasa Battery Co Ltd		1,125
	3,783		Goodyear Lastikleri Turk AS.		182
	807,297		Goodyear Tire & Rubber Co		26,625
	61,137		Grammer AG.		2,436
	6,732,932		Great Wall Motor Co Ltd		5,468
	113,800		G-Tekt Corp		1,301
	6,853,971		Guangzhou Automobile Group Co Ltd		7,129
	7,908		Halla Holdings Corp		373
	80,629		Hanil E-Hwa Co Ltd		992
	64,196		Hanil E-Wha Co Ltd		705
	77,359		Hankook Tire Co Ltd		3,680
	597,099		Hanon Systems		4,810
	126,419	e	Harley-Davidson, Inc		6,489
	81,561		Hero Honda Motors Ltd		3,627
	1,921,691		Honda Motor Co Ltd		52,541
	44,301	*	Horizon Global Corp		557
	1,409,597		Hota Industrial Manufacturing Co Ltd		6,125
	378,099		Hu Lane Associate, Inc		1,803
	243,900	*	Hunan Tyen Machinery Co Ltd		133
	15,375		Hwa Shin Co Ltd		88
	12,300,000	*,e	Hybrid Kinetic Group Ltd		359
	144,047		Hyundai Mobis		31,385
	297,621		Hyundai Motor Co		39,719
	42,814		Hyundai Motor Co Ltd (2nd Preference)		3,968
	23,502		Hyundai Motor Co Ltd (Preference)		2,136
	56,385		Hyundai Wia Corp		5,180
	34,000		Iron Force Industrial Co Ltd		207
	590,295		Isuzu Motors Ltd		6,089
	299,226		Johnson Controls, Inc		11,661
	141,900		Kasai Kogyo Co Ltd		1,470
	276,896		Kayaba Industry Co Ltd		820
	119,500		Keihin Corp		1,786
	1,249,189		Kenda Rubber Industrial Co Ltd		1,987

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	295,064		Kia Motors Corp	$	12,464
	43,000		Kinugawa Rubber Industrial Co Ltd		293
	67,936		Koito Manufacturing Co Ltd		3,076
	353,269	*,e	Kongsberg Automotive ASA		307
	87,531	*	Kumho Tire Co, Inc		643
	134,000	*	Launch Tech Co Ltd		136
	723,567		Lear Corp		80,439
	27,970	e	Leoni AG.		963
	97,978		Linamar Corp		4,714
	36,000		Macauto Industrial Co Ltd		189
	203,000		Magna International, Inc (Class A)		8,721
	692,337		Magna International, Inc (Class A) (Toronto)		29,762
	587,246		Mahindra & Mahindra Ltd		10,731
	189,900		Mahle-Metal Leve S.A. Industria e Comercio		1,244
	43,480		Mando Corp		5,952
	191,996	e	Martinrea International, Inc		1,517
	100,822		Maruti Suzuki India Ltd		5,660
	1,903,279		Mazda Motor Corp		29,542
	341,964		Metair Investments Ltd		459
	100,468	e	Metaldyne Performance Group, Inc		1,689
	6,967		MGI Coutier		147
	476,885		Michelin (C.G.D.E.) (Class B)		48,723
	612,000		Minth Group Ltd		1,425
	33,600		Mitsuba Corp		518
	349,317		Mitsubishi Motors Corp		2,608
	113,629	*	Modine Manufacturing Co		1,251
	312,409		Motherson Sumi Systems Ltd		1,257
	10,426		Motonic Corp		98
	43,219	*	Motorcar Parts of America, Inc		1,641
	834		MRF Ltd		482
	26,400		Musashi Seimitsu Industry Co Ltd		523
	432,949	*	Nan Kang Rubber Tire Co Ltd		433
	1,407		Nexen Corp		98
	129,672		Nexen Tire Corp		1,652
	2,497,000	e	Nexteer Automotive Group Ltd		2,570
	123,944		NGK Spark Plug Co Ltd		2,373
	166,754		NHK Spring Co Ltd		1,595
	105,751	e	Nifco, Inc		5,078
	51,000		Nippon Seiki Co Ltd		987
	6,840,930		Nissan Motor Co Ltd		63,246
	64,541	e	Nissan Shatai Co Ltd		649
	133,700		Nissin Kogyo Co Ltd		1,802
	228,539		NOK Corp		3,899
	138,665		Nokian Renkaat Oyj		4,892
	420,600	e	Pacific Industrial Co Ltd		4,240
	556,313	*	Peugeot S.A.		9,517
	142,295	e	Piaggio & C S.p.A.		301
	7,300		Piolax Inc		362
	399,864		Porsche AG.		20,667
	107,400		Press Kogyo Co Ltd		362
	22,722,994		PT Astra International Tbk		12,421
	44,450		Pyeong Hwa Automotive Co Ltd		519

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	8,492,000		Qingling Motors Co Ltd	$	2,671
	670,601		Renault S.A.		66,643
	86,000		Riken Corp		281
	40,715		S&T Daewoo Co Ltd		2,462
	17,456		S&T Holdings Co Ltd		378
	37,427		SAF-Holland S.A.		461
	182,000	e	Sanden Corp		521
	449,920	*	Sanyang Industry Co Ltd		300
	7,074		Sejong Industrial Co Ltd		61
	245,700		Showa Corp		2,143
	84,443		SL Corp		1,192
	40,142	*	Sogefi S.p.A.		64
	866,825		Somboon Advance Technology PCL		354
	606,900		Sri Trang Agro-Industry PCL (Foreign)		215
	38,128	*	Ssangyong Motor Co		276
	89,780		Standard Motor Products, Inc		3,111
	192,087		Stanley Electric Co Ltd		4,341
	85,371	*	Stoneridge, Inc		1,243
	15,251		Strattec Security Corp		875
	513,525		Sumitomo Electric Industries Ltd		6,227
	509,373		Sumitomo Rubber Industries, Inc		7,870
	55,018		Sundram Fasteners Ltd		142
	33,112		Sungwoo Hitech Co Ltd		287
	56,420		Superior Industries International, Inc		1,246
	133,898		Suzuki Motor Corp		3,580
	2,143,653		T RAD Co Ltd		3,447
	22,200	e	Tachi-S Co Ltd		323
	66,200		Taiho Kogyo Co Ltd		683
	31,800	*,e	Takata Corp		124
	1,224,065		Tata Motors Ltd		7,134
	303,167		Tata Motors Ltd (DVR)		1,320
	26,800		Teikoku Piston Ring Co Ltd		703
	218,344	*	Tenneco, Inc		11,247
	573,830	*,e	Tesla Motors, Inc		131,849
	150,694		Thor Industries, Inc		9,610
	672,000	*	Tianneng Power International Ltd		601
	117,866		Tofas Turk Otomobil Fabrik		956
	84,963		Tokai Rika Co Ltd		1,597
	31,600	e	Tokai Rubber Industries, Inc		275
	324,699		Tong Yang Industry Co Ltd		487
	65,800	e	Topre Corp		1,225
	97,344		Tower International, Inc		2,648
	81,900		Toyo Tire & Rubber Co Ltd		1,224
	66,677		Toyoda Gosei Co Ltd		1,286
	184,500		Toyota Boshoku Corp		3,006
	194,740		Toyota Industries Corp		8,746
	5,766,000		Toyota Motor Corp		305,802
	137,000		TS Tech Co Ltd		3,202
	123,939		Tube Investments Of India		724
	85,089		Tung Thih Electronic Co Ltd		1,405
	45,900		Tupy S.A.		211
	232,847		TVS Motor Co Ltd		1,135

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	634,966		UMW Holdings BHD	$	1,117
	42,700		Unipres Corp		743
	239,746		Valeo S.A.		37,280
	355,014		Visteon Corp		28,256
	130,806	e	Volkswagen AG.		19,003
	183,878		Volkswagen AG. (Preference)		23,339
	8,332		WABCO India Ltd		786
	65,986	e	Winnebago Industries, Inc		1,481
	440,000	*,e	Xinchen China Power Holdings Ltd		70
	3,248,000		Xingda International Holdings Ltd		692
	1,890,785	e	Xinyi Glass Holdings Co Ltd		1,263
	120,444		Yamaha Motor Co Ltd		2,002
	74,000		Yokohama Rubber Co Ltd		1,216
	198,000		Yorozu Corp		4,153
	669,646		Yulon Motor Co Ltd		651
	80,000		Zhejiang Shibao Co Ltd		84
			TOTAL AUTOMOBILES & COMPONENTS		2,330,533
BANKS - 6.9%
	37,789		1st Source Corp		1,203
	1,264,030		77 Bank Ltd		4,466
	235,936		Aareal Bank AG.		7,628
	1,159,374	*,g	ABN AMRO Group NV (ADR)		23,733
	3,073,277		Abu Dhabi Commercial Bank PJSC		5,603
	18,012	e	Access National Corp		357
	58,146,354	e	Agricultural Bank of China		20,919
	6,700		Aichi Bank Ltd		280
	3,402,904		Akbank TAS		9,693
	138,000	e	Akita Bank Ltd		376
	1,263,197		Albaraka Turk Katilim Bankasi AS		740
	1,699,404	*	Aldermore Group plc		5,115
	36,985	*	Alior Bank S.A.		643
	383,831		Allahabad Bank		318
	3,243	*,e	Allegiance Bancshares, Inc		60
	1,123,200		Alliance Financial Group BHD		1,195
	1,462,852	*	Alpha Bank AE		3,225
	315,270	*,m	Amagerbanken AS		0
	27,231		American National Bankshares, Inc		690
	85,539		Ameris Bancorp		2,530
	32,098	e	Ames National Corp		795
	685,557	*	Amlak Finance PJSC		300
	3,909,404		AMMB Holdings BHD		4,609
	16,058	*	Anchor BanCorp Wisconsin, Inc		724
	478,367		Andhra Bank		377
	292,000	e	Aomori Bank Ltd		850
	8,142,952		Aozora Bank Ltd		28,423
	77,728		Apollo Residential Mortgage		1,043
	29,295	e	Arrow Financial Corp		778
	850,000		Ashikaga Holdings Co Ltd		2,429
	159,117		Associated Banc-Corp		2,855
	220,983		Astoria Financial Corp		3,500
	3,692,830		Australia & New Zealand Banking Group Ltd		66,199

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	165,721	e	Awa Bank Ltd	$	802
	584,229		Axis Bank Ltd		3,917
	189,211		Banc of California, Inc		3,311
	477,671	*,e	Banca Carige S.p.A		310
	38,159,662		Banca Intesa S.p.A.		105,512
	2,855,030		Banca Intesa S.p.A. RSP		7,410
	2,295,065	*,e	Banca Monte dei Paschi di Siena S.p.A		1,309
	413,025		Banca Popolare dell’Emilia Romagna Scrl		1,963
	12,057,893		Banca Popolare di Milano		8,418
	1,011,410		Banca Popolare di Sondrio SCARL		3,538
	17,266		Bancfirst Corp		985
	231,966	e	Banche Popolari Unite Scpa		857
	190,779		Banco ABC Brasil S.A.		653
	3,472,008		Banco Bilbao Vizcaya Argentaria S.A.		22,927
	944,266	*	Banco BPI S.A.		1,346
	1,324,357	*	Banco Bradesco S.A.		11,079
	4,542,151	*	Banco Bradesco S.A. (Preference)		34,196
	34,287,590	e	Banco Comercial Portugues S.A.		1,391
	22,200,943		Banco de Chile		2,387
	56,496		Banco de Credito e Inversiones		2,284
	2,365,214		Banco de Oro Universal Bank		5,253
	1,401,715	e	Banco de Sabadell S.A.		2,517
	2,063,927		Banco do Brasil S.A.		11,348
	779,600		Banco do Estado do Rio Grande do Sul		1,735
	16,063,377	*,m	Banco Espirito Santo S.A.		183
	58,200	*,m	Banco Industrial e Comercial S.A.		134
	6,151,854		Banco Itau Holding Financeira S.A.		53,398
	129,482		Banco Latinoamericano de Exportaciones S.A. (Class E)		3,136
	217,253	*,e	Banco Popolare SC		1,492
	465,513	e	Banco Popular Espanol S.A.		1,208
	973,603		Banco Santander Brasil S.A.		4,590
	68,431,753		Banco Santander Chile S.A.		3,327
	9,567,067		Banco Santander S.A.		42,017
	937,800		BanColombia S.A. (Preference)		8,089
	367,547		Bancorpsouth, Inc		7,832
	118,800		Bangkok Bank PCL (ADR)		607
	1,006,700		Bangkok Bank PCL (Foreign)		5,200
	56,163		Bank Handlowy w Warszawie S.A.		1,361
	1,359,871		Bank Hapoalim Ltd		7,059
	2,416,098		Bank Leumi Le-Israel		8,677
	451,046	*	Bank Millennium S.A.		705
	169,114		Bank Mutual Corp		1,280
	44,830,993		Bank of America Corp		606,115
	500,000		Bank of Baroda		1,109
	139,472,403		Bank of China Ltd		57,904
	1,902,500	e	Bank of Chongqing Co Ltd		1,545
	24,874,940		Bank of Communications Co Ltd		16,367
	1,289,523	e	Bank of East Asia Ltd		4,820
	93,750		Bank of Georgia Holdings plc		2,730
	54,074	e	Bank of Hawaii Corp		3,692
	108,035,772	*	Bank of Ireland		31,248
	12,900		Bank of Iwate Ltd		467

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	300,824		Bank of Kaohsiung	$	83
	471,927		Bank of Kyoto Ltd		3,077
	21,554	e	Bank of Marin Bancorp		1,061
	993,801	*	Bank of Montreal		60,351
	393,000	e	Bank of Nagoya Ltd		1,291
	1,597,075		Bank of Nova Scotia		78,049
	24,000	e	Bank of Okinawa Ltd		786
	399,543		Bank of Queensland Ltd		3,704
	95,541	e	Bank of Saga Ltd		180
	232,845		Bank of the Ozarks, Inc		9,773
	1,029,677		Bank of the Philippine Islands		1,946
	299,000	e	Bank of the Ryukyus Ltd		3,355
	1,180,512	m	Bank of Yokohama Ltd		5,400
	150,799		Bank Pekao S.A.		6,648
	14,903,904		Bank Rakyat Indonesia		12,825
	37,760		Bank Zachodni WBK S.A.		3,100
	61,163		BankFinancial Corp		723
	1,659,818		Bankia S.A.		1,563
	1,503,456		Bankinter S.A.		10,593
	204,838		BankUnited		7,055
	53,309		Banner Corp		2,241
	7,488		Banque Cantonale Vaudoise		5,218
	1,415,300	e	Banregio Grupo Financiero SAB de C.V.		8,252
	15,858		Bar Harbor Bankshares		527
	356,888	e	Barclays Africa Group Ltd		3,605
	34,147,412		Barclays plc		73,301
	2,466,724		BB&T Corp		82,068
	246,769		BBCN Bancorp, Inc		3,748
	30,592	*,e	Bear State Financial, Inc		284
	249,947	e	Bendigo Bank Ltd		1,696
	349,962	*	Beneficial Bancorp, Inc		4,791
	107,171		Berkshire Hills Bancorp, Inc		2,882
	69,426	e	Blue Hills Bancorp, Inc		949
	68,578	e	BNC Bancorp		1,448
	1,344,868		BNP Paribas		67,567
	9,634,372		BOC Hong Kong Holdings Ltd		28,780
	147,980	*,e	BofI Holding, Inc		3,158
	43,490	e	BOK Financial Corp		2,375
	243,205		Boston Private Financial Holdings, Inc		2,785
	13,367		BRE Bank S.A.		1,215
	34,466		Bridge Bancorp, Inc		1,050
	296,411		Brookline Bancorp, Inc		3,263
	57,830		Bryn Mawr Bank Corp		1,488
	289,992		BS Financial Group, Inc		2,459
	21,248	*,e	BSB Bancorp, Inc		477
	5,986,507		Bumiputra-Commerce Holdings BHD		7,441
	22,480	*	C1 Financial, Inc		544
	910,603		CaixaBank S.A.		2,684
	14,494	*,e,m	CaixaBank S.A. (Interim)		43
	17,487		Camden National Corp		734
	650,907	e	Canadian Imperial Bank of Commerce/Canada		48,624
	68,894	e	Canadian Western Bank		1,281

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	48,051		Capital Bank Financial Corp	$	1,482
	38,734		Capital City Bank Group, Inc		565
	30,385		Capitec Bank Holdings Ltd		1,176
	336,363		Capitol Federal Financial		4,460
	99,820		Cardinal Financial Corp		2,031
	143,595	*	Cascade Bancorp		820
	338,895		Cathay General Bancorp		9,601
	217,982		Centerstate Banks of Florida, Inc		3,246
	133,821		Central Pacific Financial Corp		2,913
	13,150		Century Bancorp, Inc		512
	5,509,886		Chang Hwa Commercial Bank		2,825
	53,510		Charter Financial Corp		722
	134,077	e	Chemical Financial Corp		4,785
	575,966		Chiba Bank Ltd		2,869
	68,100	e	Chiba Kogyo Bank Ltd		308
	9,951,010	*	China Citic Bank		6,099
	162,082,756		China Construction Bank		103,758
	16,050,661		China Development Financial Holding Corp		4,288
	12,524,000		China Everbright Bank Co Ltd		6,088
	7,497,760		China Merchants Bank Co Ltd		15,779
	7,212,694		China Minsheng Banking Corp Ltd		6,738
	17,775,808		Chinatrust Financial Holding Co		9,387
	170,000		Chong Hing Bank Ltd		346
	19,728,014	e	Chongqing Rural Commercial Bank		10,444
	49,105	e	Chugoku Bank Ltd		511
	844,659		CIT Group, Inc		26,210
	8,076,501		Citigroup, Inc		337,194
	33,194	e	Citizens & Northern Corp		660
	836,634		Citizens Financial Group, Inc		17,527
	36,482	e	City Holding Co		1,743
	51,836		City Union Bank Ltd		74
	69,028	e	Clifton Bancorp, Inc		1,044
	47,552		CNB Financial Corp		836
	110,646	e	CoBiz, Inc		1,308
	20,049	*	Collector AB		359
	177,993		Columbia Banking System, Inc		5,326
	25,222		Comdirect Bank AG.		283
	1,544,127		Comerica, Inc		58,476
	140,262		Commerce Bancshares, Inc		6,305
	186,561		Commercial Bank of Qatar QSC		2,133
	2,443,122		Commercial International Bank		10,559
	1,458,243	*	Commerzbank AG.		12,653
	1,772,388	e	Commonwealth Bank of Australia		101,609
	104,033		Community Bank System, Inc		3,975
	40,199		Community Trust Bancorp, Inc		1,420
	39,449	*,e	CommunityOne Bancorp		524
	124,636		ConnectOne Bancorp, Inc		2,038
	139,180,301		CorpBanca S.A.		1,273
	163,966		Credicorp Ltd (NY)		21,481
	1,161,260		Credit Agricole S.A.		12,558
	74,715		Credito Emiliano S.p.A.		510
	65,687	*	CU Bancorp		1,391

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	108,731	e	Cullen/Frost Bankers, Inc	$	5,992
	64,714	*	Customers Bancorp, Inc		1,529
	278,367	e	CVB Financial Corp		4,858
	1,061,087	*	CYBG plc		3,178
	5,646,074	*,m	Cyprus Popular Bank Public Co Ltd		64
	718,827		Dah Sing Banking Group Ltd		1,264
	341,508		Dah Sing Financial Holdings Ltd		2,102
	257,000	e	Daishi Bank Ltd		883
	824,235		Danske Bank AS		23,260
	2,947,065		DBS Group Holdings Ltd		33,573
	92,411	*,g	Deutsche Pfandbriefbank AG.		945
	1,333,051	*	Development Credit Bank Ltd		1,596
	351,005		Dewan Housing Finance Corp Ltd		1,041
	183,521		DGB Financial Group Co Ltd		1,429
	96,941		Dime Community Bancshares		1,708
	632,943	e	DNB NOR Holding ASA		7,474
	126,526		Doha Bank QSC		1,290
	1,576,825		Dubai Islamic Bank PJSC		2,545
	8,161,208		E.Sun Financial Holding Co Ltd		4,564
	70,744	*,e	Eagle Bancorp, Inc		3,396
	810,994		East West Bancorp, Inc		26,341
	113,000		Eighteenth Bank Ltd		251
	28,175	e	Enterprise Bancorp, Inc		739
	46,928		Enterprise Financial Services Corp		1,269
	2,059	*,e	Equity Bancshares, Inc		43
	934,796	*	Erste Bank der Oesterreichischen Sparkassen AG.		26,237
	254,223	*	Essent Group Ltd		5,288
	1,951,281	*	Eurobank Ergasias S.A.		1,705
	365,229		EverBank Financial Corp		5,511
	2,645,315		Far Eastern International Bank		783
	19,023		Farmers Capital Bank Corp		503
	67,582	*	FCB Financial Holdings, Inc		2,248
	32,148		Federal Agricultural Mortgage Corp (Class C)		1,213
	4,824,182		Federal Bank Ltd		3,384
	67,101		Fidelity Southern Corp		1,076
	1,381,197		Fifth Third Bancorp		23,052
	41,802		Financial Institutions, Inc		1,215
	179,485		FinecoBank Banca Fineco S.p.A		1,509
	64,265	e	First Bancorp (NC)		1,211
	280,182	*	First Bancorp (Puerto Rico)		818
	33,853		First Bancorp, Inc		660
	60,955		First Busey Corp		1,248
	26,242	e	First Business Financial Services, Inc		602
	18,786		First Citizens Bancshares, Inc (Class A)		4,717
	220,656		First Commonwealth Financial Corp		1,955
	52,917		First Community Bancshares, Inc		1,050
	61,349		First Connecticut Bancorp		979
	22,184		First Defiance Financial Corp		852
	188,530		First Financial Bancorp		3,427
	156,529	e	First Financial Bankshares, Inc		4,630
	37,574		First Financial Corp		1,285
	10,080,109		First Financial Holding Co Ltd		4,979

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,029,552		First Gulf Bank PJSC	$	3,294
	174,674		First Horizon National Corp		2,288
	105,402		First International Bank Of Israel Ltd		1,306
	92,824		First Interstate Bancsystem, Inc		2,611
	93,928		First Merchants Corp		2,214
	281,009		First Midwest Bancorp, Inc		5,064
	38,066	e	First National Financial Corp		758
	38,896	*	First NBC Bank Holding Co		801
	317,094		First Niagara Financial Group, Inc		3,069
	43,366		First of Long Island Corp		1,236
	424,825		First Republic Bank		28,310
	400,722		FirstMerit Corp		8,435
	52,200	*	Flagstar Bancorp, Inc		1,120
	69,894		Flushing Financial Corp		1,511
	834,522		FNB Corp		10,857
	42,894		Fox Chase Bancorp, Inc		829
	28,429	*,e	Franklin Financial Network, Inc		768
	946,412		Fukuoka Financial Group, Inc		3,083
	430,326		Fulton Financial Corp		5,758
	150,055	e	Genworth MI Canada, Inc		3,537
	1,258,338	e	Genworth Mortgage Insurance Australia Ltd		2,396
	30,285	e	German American Bancorp, Inc		975
	1,279,817	*	Get Bank S.A.		198
	653,827	*	Getin Holding S.A.		224
	252,981		Glacier Bancorp, Inc		6,431
	24,057		Great Southern Bancorp, Inc		893
	238,628		Great Western Bancorp, Inc		6,507
	41,207	*	Green Bancorp, Inc		312
	129,070		Gruh Finance Ltd		466
	2,546,210		Grupo Aval Acciones y Valores		993
	4,791,838		Grupo Financiero Banorte S.A. de C.V.		27,022
	4,202,207		Grupo Financiero Inbursa S.A.		8,389
	2,071,057	e	Grupo Financiero Santander Mexico SAB de C.V.		3,758
	62,021		Guaranty Bancorp		959
	543,859		Gunma Bank Ltd		2,246
	125,116		Hachijuni Bank Ltd		539
	106,670	*,e	Hampton Roads Bankshares, Inc		189
	333,041		Hana Financial Group, Inc		7,226
	190,307		Hancock Holding Co		4,369
	986,688	e	Hang Seng Bank Ltd		17,458
	169,857		Hanmi Financial Corp		3,740
	249,664		HDFC Bank Ltd		4,047
	15,713		HDFC Bank Ltd (ADR)		968
	60,832		Heartland Financial USA, Inc		1,873
	63,612		Heritage Commerce Corp		637
	146,410		Heritage Financial Corp		2,572
	72,032		Heritage Oaks Bancorp		561
	711,684	*	Hilltop Holdings, Inc		13,437
	2,900	e	Hingham Institution for Savings		345
	981,647		Hiroshima Bank Ltd		3,582
	232,000		Hokkoku Bank Ltd		610
	643,000	e	Hokuetsu Bank Ltd		1,039

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	344,947	e	Hokuhoku Financial Group, Inc	$	453
	206,714		Home Bancshares, Inc		8,465
	265,069	e	Home Capital Group, Inc		7,156
	49,655	*	HomeStreet, Inc		1,033
	112,241	*	HomeTrust Bancshares, Inc		2,057
	640,184		Hong Leong Bank BHD		2,217
	363,794		Hong Leong Credit BHD		1,447
	27,662		Horizon Bancorp		684
	2,801,725		Housing Development Finance Corp		46,753
	19,904,856		HSBC Holdings plc		123,787
	7,258,222		Hua Nan Financial Holdings Co Ltd		3,608
	685,354		Huntington Bancshares, Inc		6,538
	208,692		Hyakugo Bank Ltd		782
	195,000	e	Hyakujushi Bank Ltd		547
	173,841		IBERIABANK Corp		8,913
	2,360,804		ICICI Bank Ltd		8,481
	22,814		ICICI Bank Ltd (ADR)		163
	188,892	*	IDFC Bank Ltd		137
	21,466	*,e	Impac Mortgage Holdings, Inc		298
	62,280		Independent Bank Corp (MA)		2,862
	68,297		Independent Bank Corp (MI)		994
	42,565		Independent Bank Group, Inc		1,166
	138,288		Indian Bank		217
	226,652		IndusInd Bank Ltd		3,311
	148,647,566		Industrial & Commercial Bank of China		83,268
	746,774		Industrial Bank of Korea		8,000
	131,244		International Bancshares Corp		3,236
	3,686,104		Investors Bancorp, Inc		42,906
	541,290	*,m	Irish Bank Resolution Corp Ltd		0
	1,172,317	*	Israel Discount Bank Ltd		1,986
	71,645	e	Iyo Bank Ltd		468
	390,926		Jammu & Kashmir Bank Ltd		357
	244,300	*	Japan Post Bank Co Ltd		3,009
	96,012		JB Financial Group Co Ltd		487
	344,600		Jimoto Holdings Inc		453
	604,225		Joyo Bank Ltd		2,071
	11,999,071		JPMorgan Chase & Co		710,585
	281,555		Juroku Bank Ltd		840
	69,577		Jyske Bank		3,136
	75,300	e	Kansai Urban Banking Corp		741
	65,600	e	Kanto Tsukuba Bank Ltd		176
	817,852		Karnataka Bank Ltd		1,268
	81,430	*	Karur Vysya Bank Ltd		537
	135,500		Kasikornbank PCL - NVDR		665
	1,956,706		Kasikornbank PCL (Foreign)		9,731
	692,130		KB Financial Group, Inc		19,219
	418,076		KBC Groep NV		21,530
	418,415		Kearny Financial Corp		5,167
	656,000		Keiyo Bank Ltd		2,369
	2,158,071		Keycorp		23,825
	1,503,632		Kiatnakin Bank PCL (Foreign)		1,794
	2,553,000		King’s Town Bank		1,756

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	61,300	e	Kiyo Bank Ltd	$	695
	23,333		KJB Financial Group Co Ltd		171
	27,993		Komercni Banka AS		6,178
	3,584,870		Krung Thai Bank PCL (Foreign)		1,903
	346,000	*	Kyushu Financial Group, Inc		1,987
	138,255		Lakeland Bancorp, Inc		1,403
	39,402		Lakeland Financial Corp		1,804
	77,674	e	Laurentian Bank of Canada		2,847
	187,906		LegacyTexas Financial Group, Inc		3,692
	37,715	*,e	LendingTree, Inc		3,688
	10,279,028		LH Financial Group PCL		549
	352,476	*,e	Liberbank S.A.		436
	343,268	*	LIC Housing Finance Ltd		2,556
	11,306	e	Live Oak Bancshares, Inc		170
	51,271,764		Lloyds TSB Group plc		49,939
	88,866	e	M&T Bank Corp		9,864
	68,212		MainSource Financial Group, Inc		1,439
	8,200,897		Malayan Banking BHD		18,954
	666,602		Malaysia Building Society		234
	431,268		Masraf Al Rayan		4,227
	200,022		MB Financial, Inc		6,491
	14,089,299		Mega Financial Holding Co Ltd		10,021
	59,035		Mercantile Bank Corp		1,324
	16,320		Merchants Bancshares, Inc		485
	136,497		Meridian Bancorp, Inc		1,900
	39,166		Meta Financial Group, Inc		1,786
	1,027,724	*	Metropolitan Bank & Trust		1,840
	878,621	*	MGIC Investment Corp		6,739
	16,100	e	Midsouth Bancorp, Inc		123
	22,123		MidWestOne Financial Group, Inc		607
	68,000		Mie Bank Ltd		121
	469,000	e	Minato Bank Ltd		629
	20,154,179		Mitsubishi UFJ Financial Group, Inc		93,387
	4,798,861		Mitsui Trust Holdings, Inc		14,049
	366,000		Miyazaki Bank Ltd		890
	99,267		Mizrahi Tefahot Bank Ltd		1,165
	29,330,463		Mizuho Financial Group, Inc		43,711
	28,868		Musashino Bank Ltd		726
	193,928	e	Nanto Bank Ltd		527
	2,550,910		National Australia Bank Ltd		51,220
	72,669		National Bank Holdings Corp		1,482
	715,162		National Bank of Abu Dhabi PJSC		1,702
	684,087	e	National Bank of Canada		22,381
	5,597,968	*	National Bank of Greece S.A.		1,567
	22,749	e	National Bankshares, Inc		781
	15,829	*,e	National Commerce Corp		374
	369,848	e	National Penn Bancshares, Inc		3,935
	89,444	*,e	Nationstar Mortgage Holdings, Inc		886
	2,140,881		Natixis		10,525
	106,602		NBT Bancorp, Inc		2,873
	382,951	e	Nedbank Group Ltd		5,025
	1,549,103		New York Community Bancorp, Inc		24,631

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,527,300		Nishi-Nippon City Bank Ltd	$	2,697
	277,809	*	NMI Holdings, Inc		1,403
	52,996	*,g	Nordax Group AB		270
	2,059,792		Nordea Bank AB		19,757
	332,700		North Pacific Bank Ltd		841
	147,627	e	Northfield Bancorp, Inc		2,427
	2,955		Northrim BanCorp, Inc		71
	243,451		Northwest Bancshares, Inc		3,289
	43,952	e	OceanFirst Financial Corp		777
	109,735	*,e	Ocwen Financial Corp		271
	109,902	e	OFG Bancorp		768
	236,000		Ogaki Kyoritsu Bank Ltd		712
	413,000		Oita Bank Ltd		1,286
	289,053		Old National Bancorp		3,524
	77,122	*	Old Second Bancorp, Inc		553
	350,286		OneSavings Bank plc		1,674
	172,807		Opus Bank		5,875
	62,360		Oriental Bank of Commerce		86
	135,754		Oritani Financial Corp		2,304
	689,735		OTP Bank		17,304
	4,292,038	e	Oversea-Chinese Banking Corp		28,129
	75,192		Pacific Continental Corp		1,213
	98,907	*	Pacific Premier Bancorp, Inc		2,114
	352,674		PacWest Bancorp		13,102
	251,194		Paragon Group of Cos plc		1,163
	30,496	e	Park National Corp		2,745
	173,819		Park Sterling Bank		1,159
	53,154	e	Peapack Gladstone Financial Corp		898
	15,540	e	Penns Woods Bancorp, Inc		599
	32,975	*	PennyMac Financial Services, Inc		388
	76,370	e	Peoples Bancorp, Inc		1,492
	25,923	e	Peoples Financial Services Corp		964
	306,470	e	People’s United Financial, Inc		4,882
	116,166	*,e	Permanent TSB Group Holdings plc		358
	164,514	*	PHH Corp		2,063
	3,067,276	*	Philippine National Bank		3,498
	4,465,607	*	Piccolo Credito Valtellinese Scarl		2,920
	153,550		Pinnacle Financial Partners, Inc		7,533
	6,801,858	*	Piraeus Bank S.A.		1,732
	613,035		PNC Financial Services Group, Inc		51,844
	316,753		Popular, Inc		9,062
	999,056	*	Powszechna Kasa Oszczednosci Bank Polski S.A.		7,431
	68,900		Preferred Bank		2,084
	258,349		PrivateBancorp, Inc		9,972
	189,978	e	Prosperity Bancshares, Inc		8,813
	178,712		Provident Financial Services, Inc		3,608
	66,937,300		PT Bank Bukopin Tbk		3,003
	13,098,287		PT Bank Central Asia Tbk		13,132
	3,173,502		PT Bank Danamon Indonesia Tbk		909
	18,264,800		PT Bank Jabar Banten Tbk		1,331
	14,144,068		PT Bank Mandiri Persero Tbk		10,982
	11,553,413		PT Bank Negara Indonesia		4,529

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	44,500,000	*	PT Bank Pan Indonesia Tbk	$	2,349
	32,046,900		PT Bank Pembangunan Daerah Jawa Timur Tbk		1,148
	13,175,794		PT Bank Tabungan Negara Tbk		1,733
	3,068,409		Public Bank BHD		14,764
	87,962		Qatar Islamic Bank SAQ		2,503
	251,396		Qatar National Bank		9,718
	28,137	e	QCR Holdings, Inc		671
	613,140		Radian Group, Inc		7,603
	23,624	*,e	Raiffeisen International Bank Holding AG.		357
	2,697,621		Regions Financial Corp		21,176
	94,572	e	Renasant Corp		3,112
	31,520		Republic Bancorp, Inc (Class A)		814
	2,704,994		Resona Holdings, Inc		9,645
	439,564		RHB Capital BHD		665
	368,120		Rizal Commercial Banking Corp		240
	5,200	*,m	Roskilde Bank		0
	76,701		Royal Bank of Canada		4,415
	2,503,372	*	Royal Bank of Canada		144,237
	2,488,894	*	Royal Bank of Scotland Group plc		7,936
	88,146		S&T Bancorp, Inc		2,271
	58,021		Sandy Spring Bancorp, Inc		1,615
	122,200		San-In Godo Bank Ltd		755
	5,911,012		Sberbank of Russian Federation (ADR)		41,034
	77,389	*	Seacoast Banking Corp of Florida		1,222
	573,270		Security Bank Corp		2,178
	424,754	*	Sekerbank TAS		241
	211,980	e	Senshu Ikeda Holdings, Inc		762
	64,032	e	ServisFirst Bancshares, Inc		2,843
	588,193	e	Seven Bank Ltd		2,510
	1,077,170	*,g	Shawbrook Group plc		4,647
	650,000	e	Shiga Bank Ltd		2,735
	162,000		Shikoku Bank Ltd		312
	814,261		Shinhan Financial Group Co Ltd		28,662
	2,335,179	e	Shinsei Bank Ltd		3,048
	358,400		Shizuoka Bank Ltd		2,584
	1,869,400		Siam Commercial Bank PCL (Foreign)		7,481
	43,381		Sierra Bancorp		787
	426,850	*	Signature Bank		58,103
	104,688		Simmons First National Corp (Class A)		4,718
	10,742,570		SinoPac Financial Holdings Co Ltd		3,321
	1,308,059	e	Skandinaviska Enskilda Banken AB (Class A)		12,474
	363,606		Societe Generale		13,436
	2,578,170		South Indian Bank Ltd		687
	137,865		South State Corp		8,855
	61,853	e	Southside Bancshares, Inc		1,613
	111,557		Southwest Bancorp, Inc		1,679
	207,000		Spar Nord Bank A/s		1,974
	222,572	e	Sparebanken Midt-Norge		1,418
	200,142		Sparebanken Nord-Norge		907
	4,044		St Galler Kantonalbank		1,715
	2,801,431	e	Standard Bank Group Ltd		25,067
	1,550,711	*	Standard Chartered plc		10,487

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	84,078		State Bank & Trust Co	$	1,661
	30,377		State Bank of Bikaner & Jaip		229
	2,987,969		State Bank of India		8,761
	527,836		Sterling Bancorp/DE		8,408
	34,736		Stock Yards Bancorp, Inc		1,338
	39,327		Stonegate Bank		1,178
	39,496	*,e	Stonegate Mortgage Corp		227
	46,166		Suffolk Bancorp		1,165
	3,961,711		Sumitomo Mitsui Financial Group, Inc		120,268
	27,048	*,e	Sun Bancorp, Inc		560
	789,193		SunTrust Banks, Inc		28,474
	393,390		Suruga Bank Ltd		6,903
	218,869	*	SVB Financial Group		22,336
	472,175	e	Svenska Handelsbanken AB		5,990
	1,800,805		Swedbank AB (A Shares)		38,675
	203,284		Sydbank AS		5,821
	401,619		Syndicate Bank		410
	288,719		Synovus Financial Corp		8,347
	2,510,311		Taichung Commercial Bank		736
	8,733,685		Taishin Financial Holdings Co Ltd		3,078
	1,441,886	*	Taiwan Business Bank		382
	8,023,151		Taiwan Cooperative Financial Holding		3,591
	141,870		Talmer Bancorp Inc		2,566
	1,587,075		TCF Financial Corp		19,458
	656,872		TCS Group Holding plc (ADR)		2,281
	20,591		Territorial Bancorp, Inc		537
	135,943	*	Texas Capital Bancshares, Inc		5,218
	215,752		TFS Financial Corp		3,748
	2,728,800		Thanachart Capital PCL		2,927
	83,404	*	The Bancorp, Inc		477
	1,175,480		Tisco Bank PCL		1,519
	61,598,300		TMB Bank PCL (Foreign)		4,409
	202,000		Tochigi Bank Ltd		766
	175,000	e	Toho Bank Ltd		561
	61,993		Tokyo TY Financial Group, Inc		1,440
	139,400		Tomony Holdings, Inc		412
	36,250	e	Tompkins Trustco, Inc		2,320
	3,709,165		Toronto-Dominion Bank		160,105
	515,000	e	Towa Bank Ltd		398
	105,558	e	TowneBank		2,026
	95,631		Trico Bancshares		2,421
	84,893	*,e	Tristate Capital Holdings, Inc		1,070
	66,880	*	Triumph Bancorp, Inc		1,059
	583,256		Trustco Bank Corp NY		3,535
	163,556		Trustmark Corp		3,767
	4,230,235		Turkiye Garanti Bankasi AS		12,376
	711,023		Turkiye Halk Bankasi AS		2,644
	1,679,410		Turkiye Is Bankasi (Series C)		2,780
	664,647		Turkiye Sinai Kalkinma Bankasi AS		389
	842,379		Turkiye Vakiflar Bankasi Tao		1,409
	94,937		UMB Financial Corp		4,902
	760,717		Umpqua Holdings Corp		12,065

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,789,244		UniCredit S.p.A	$	24,475
	571,833		Union Bank of India		1,129
	1,566,039		Union Bank Of Taiwan		445
	140,373		Union Bankshares Corp		3,457
	168,043	e	United Bankshares, Inc		6,167
	236,492		United Community Banks, Inc		4,368
	126,213		United Community Financial Corp		741
	319,295		United Financial Bancorp, Inc (New)		4,020
	2,067,145	e	United Overseas Bank Ltd		28,915
	53,767	e	Univest Corp of Pennsylvania		1,049
	5,901,040		US Bancorp		239,523
	36,446		Valiant Holding		3,883
	566,309	e	Valley National Bancorp		5,403
	462,817		Vijaya Bank		219
	2,551,129		Virgin Money Holdings UK plc		13,513
	4,093,219		VTB Bank OJSC (GDR)		9,060
	64,319	*	Walker & Dunlop, Inc		1,561
	92,849	*,e	Walter Investment Management Corp		709
	225,566		Washington Federal, Inc		5,109
	46,045		Washington Trust Bancorp, Inc		1,718
	62,656		Waterstone Financial, Inc		857
	281,692		Webster Financial Corp		10,113
	21,136,026		Wells Fargo & Co		1,022,138
	90,877		WesBanco, Inc		2,700
	50,350	e	West Bancorporation, Inc		918
	61,668	e	Westamerica Bancorporation		3,004
	414,520	*	Western Alliance Bancorp		13,837
	5,279,720	e	Westpac Banking Corp		122,633
	309,212		Wilshire Bancorp, Inc		3,185
	192,972		Wintrust Financial Corp		8,556
	1,107,154		Woori Bank		9,156
	71,253		WSFS Financial Corp		2,317
	172,955		Yadkin Financial Corp		4,094
	119,000	e	Yamagata Bank Ltd		451
	219,492	e	Yamaguchi Financial Group, Inc		1,993
	358,000	e	Yamanashi Chuo Bank Ltd		1,313
	1,919,597		Yapi ve Kredi Bankasi		2,830
	1,349,522		Yes Bank Ltd		17,631
	2,034,641		Zions Bancorporation		49,259
			TOTAL BANKS		7,692,068
CAPITAL GOODS - 7.7%
	3,032,693		3M Co		505,338
	143,313		A.O. Smith Corp		10,936
	97,162		Aalberts Industries NV		3,365
	99,183		Aaon, Inc		2,777
	164,805		AAR Corp		3,835
	739,029		ABB Ltd		14,397
	110,791	e	Abengoa S.A.		88
	225,821	e	Abengoa S.A. (B Shares)		67
	3,361,502		Aboitiz Equity Ventures, Inc		4,746
	372,000		AcBel Polytech, Inc		308

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	198,631	*,e	Accuride Corp	$	308
	207,321		ACS Actividades Construccion y Servicios S.A.		6,166
	147,185	e	Actuant Corp (Class A)		3,637
	181,827		Acuity Brands, Inc		39,664
	666,059		Adani Enterprises Ltd		742
	72,295		Aditya Birla Nuvo Ltd		897
	480,900		Advan Co Ltd		4,343
	81,162	e	Advanced Drainage Systems, Inc		1,729
	458,646	*	Aecom Technology Corp		14,122
	128,560		Aecon Group, Inc		1,597
	158,366	*	Aegion Corp		3,340
	833,245	*	AerCap Holdings NV		32,297
	153,168	*	Aerojet Rocketdyne Holdings, Inc		2,509
	10,938	*	AeroSpace Technology of Korea, Inc		171
	47,024	*	Aerovironment, Inc		1,332
	30,921	*	AFG Arbonia-Forster Hldg		365
	12,672	e	AG Growth International Inc		339
	440,925	e	AGCO Corp		21,914
	50,098		AIA Engineering Ltd		711
	42,299		Aica Kogyo Co Ltd		887
	24,100		Aichi Corp		168
	177,400		Aida Engineering Ltd		1,541
	313,858	e	Air Lease Corp		10,081
	153,998	e	Aircastle Ltd		3,425
	647,740		Airtac International Group		3,827
	23,164		Alamo Group, Inc		1,290
	67,663		Alarko Holding AS		85
	141,933		Albany International Corp (Class A)		5,335
	321,880		Alfa Laval AB		5,257
	6,202,029		Alfa S.A. de C.V. (Class A)		12,453
	24,562	*,e,g	Alimak Group AB		251
	382,461		Allegion plc		24,367
	2,468,464		Alliance Global Group, Inc		885
	52,991		Allied Motion Technologies, Inc		954
	1,188,212		Allison Transmission Holdings, Inc		32,058
	31,744		Alstom Projects India Ltd		291
	54,473	*,e	Alstom RGPT		1,390
	97,738		Alstom T&D India Ltd		647
	63,828		Altra Holdings, Inc		1,773
	253,336		Amada Co Ltd		2,468
	58,988		Amara Raja Batteries Ltd		782
	70,368	*,e	Ameresco, Inc		336
	22,095	e	American Railcar Industries, Inc		900
	18,665	e	American Science & Engineering, Inc		517
	115,441	*,e	American Woodmark Corp		8,611
	466,470		Ametek, Inc		23,314
	31,684	e	Andritz AG.		1,736
	132,245		Apogee Enterprises, Inc		5,804
	155,996		Applied Industrial Technologies, Inc		6,770
	2,747,359	*	Arabtec Holding Co		1,224
	66,489		Arcadis NV		1,238
	70,561	*,e	Arcam AB		1,523

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	79,324		Argan, Inc	$	2,789
	28,398	*	Armstrong World Industries, Inc		1,374
	45,100		Asahi Diamond Industrial Co Ltd		404
	638,911		Asahi Glass Co Ltd		3,496
	287,906		Aselsan Elektronik Sanayi Ve Ticaret AS		1,871
	943,794		Ashok Leyland Ltd		1,547
	3,260,167		Ashtead Group plc		40,370
	1,146,193		Assa Abloy AB		22,566
	433,066	e	Astaldi S.p.A.		2,002
	45,413		Astec Industries, Inc		2,119
	28,802		Astral Polytechnik Ltd		179
	79,865	*,e	Astronics Corp		3,047
	1,098	*,e	Astronics Corp (Class B)		42
	788,016		Asunaro Aoki Construction Co Ltd		5,092
	167,287		Atlas Copco AB (A Shares)		4,198
	188,383		Atlas Copco AB (B Shares)		4,433
	68,563	*	ATS Automation Tooling Systems, Inc		559
	2,103,585		Austal Ltd		2,528
	3,220,000	*,e	AVIC International Holding HK Ltd		270
	2,730,843		AviChina Industry & Technology Co		2,053
	63,220		AZZ, Inc		3,578
	53,691		B&B Tools AB		989
	126,521	*	Babcock & Wilcox Enterprises, Inc		2,708
	31,652	e	Badger Daylighting Ltd		536
	10,817,112		BAE Systems plc		78,903
	591,225	*	Balfour Beatty plc		2,163
	158,000	e	Bando Chemical Industries Ltd		714
	458,000		Baoye Group Co Ltd		295
	236,272		Barloworld Ltd		1,204
	258,049		Barnes Group, Inc		9,039
	23,533		Bauer AG.		390
	11,648	e	BayWa AG.		393
	186,211		BE Aerospace, Inc		8,588
	56	*	Beacon Power Corp		0	^
	138,304	*	Beacon Roofing Supply, Inc		5,672
	581,441		Beijing Enterprises Holdings Ltd		3,184
	1,223,000	g	Beijing Urban Construction Design & Development Group Co Ltd		667
	7,513		BEML Ltd		118
	6,949,500		Berjaya Corp BHD		721
	1,237,000		BES Engineering Corp		244
	94,641		Bharat Electronics Ltd		1,749
	673,710		Bharat Heavy Electricals		1,158
	348,191		Bidvest Group Ltd		8,787
	99,755		Biesse S.p.A.		1,620
	160,787		Bird Construction Income Fund		1,372
	157,885		Bizlink Holdings Inc		837
	2,482,100		BJC Heavy Industries PCL-F		511
	214,462	*,e	Blount International, Inc		2,140
	6,033	*,e	Blue Bird Corp		65
	21,573		Blue Star Ltd		127
	88,649	*	BMC Stock Holdings, Inc		1,473

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	23,383		Bobst Group AG.	$	1,407
	162,585		Bodycote plc		1,406
	1,699,601		Boeing Co		215,747
	745,000	e	Boer Power Holdings Ltd		588
	434,000	e	Bolina Holding Co Ltd		103
	1,551,525	*	Bombardier, Inc		1,577
	91,518		Boskalis Westminster		3,587
	4,668	e	Bossard Holding AG.		492
	261,624		Bouygues S.A.		10,635
	102,306	e	Brammer plc		256
	68,642		Brenntag AG.		3,911
	126,893		Briggs & Stratton Corp		3,035
	5,633	e	Bucher Industries AG.		1,368
	19,695		Budimex S.A.		1,024
	120,543	*,e	Builders FirstSource, Inc		1,359
	43,900	e	Bunka Shutter Co Ltd		361
	294,944		Bunzl plc		8,555
	37,147		Burckhardt Compression Holding AG.		12,729
	4,444		Burkhalter Holding AG.		591
	778,143		BWX Technologies, Inc		26,114
	25,888		Byucksan Corp		200
	434,348		CAE, Inc		5,023
	624,838	e	Caesarstone Sdot-Yam Ltd		21,463
	423,500		Cahya Mata Sarawak BHD		515
	17,505	*	CAI International, Inc		169
	11,076		Carbone Lorraine		149
	95,634	e	Cardno Ltd		82
	30,317		Cargotec Corp (B Shares)		978
	1,198,770	e	Carillion plc		5,061
	120,308		Carlisle Cos, Inc		11,971
	1,084,612		Caterpillar, Inc		83,016
	611,600		CB Industrial Product Holding BHD		356
	1,135,327		Central Glass Co Ltd		6,160
	26,326		CENTROTEC Sustainable AG.		419
	2,803		Cera Sanitaryware Ltd		77
	1,260,000	*	CGN Mining Co Ltd		83
	415,525		CH Karnchang PCL		301
	692,300		Changchai Co Ltd		453
	74,606	*	Chart Industries, Inc		1,620
	145,330		Cheil Industries, Inc		18,144
	240,364		Chemring Group plc		457
	550,300	*,m	Chengde Nanjiang Co Ltd		205
	186,722		Chicago Bridge & Iron Co NV		6,832
	393,283		Chicony Power Technology Co Ltd		466
	195,000	e	China Aircraft Leasing Group Holdings Ltd		192
	12,200,000	*	China Automation Group Ltd		1,568
	1,470,000	*	China Chengtong Development Group Ltd		133
	6,921,476		China Communications Construction Co Ltd		8,286
	1,561,500		China Conch Venture Holdings Ltd		3,081
	3,070,000	*,e	China Dynamics Holdings Ltd		115
	31,000		China Ecotek Corp		56
	1,656,000		China Energine International Holdings Ltd		131

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	320,150		China Fangda Group Co Ltd	$	271
	922,000	*	China High Speed Transmission Equipment Group Co Ltd		768
	930,800	*,e	China Huarong Energy Co Ltd		106
	630,005		China International Marine Containers Group Co Ltd		989
	1,019,000	e	China Lesso Group Holdings Ltd		548
	7,540,000	*,e	China Ocean Shipbuilding Industry Group Ltd		191
	8,904,363	e	China Railway Construction Corp		10,602
	4,446,697		China Railway Group Ltd		3,378
	2,261,400	e	China Singyes Solar Technologies Holdings Ltd		955
	2,070,656		China State Construction International Holdings Ltd		3,088
	26,865,000	*	China Strategic Holdings Ltd		885
	11,903		China Yuchai International Ltd		117
	555,000		Chip Eng Seng Corp Ltd		293
	132,000	e	Chiyoda Corp		968
	32,500		Chiyoda Integre Co Ltd		722
	17,562,000		Chongqing Machinery & Electric Co Ltd		2,045
	25,400		Chudenko Corp		507
	606,375		Chung Hsin Electric & Machinery Manufacturing Corp		340
	280,932	e	CIMIC Group Ltd		7,474
	566,990	*	CIR-Compagnie Industriali Riunite S.p.A.		670
	43,573	e	CIRCOR International, Inc		2,021
	4,474,084		Citic Pacific Ltd		6,807
	2,695,000	*,e	Citic Resources Holdings Ltd		215
	14,784		CJ Corp		2,528
	3,473,316	e	CK Hutchison Holdings Ltd		45,125
	56,900		CKD Corp		469
	121,123		Clarcor, Inc		7,000
	299,714		CNH Industrial NV		2,035
	195,266		Coastal Contracts BHD		82
	407,790		Cobham plc		1,270
	453,448	*	Cofide S.p.A.		222
	205,402	*	Colfax Corp		5,872
	79,801		Columbus McKinnon Corp		1,258
	330,879		Comfort Systems USA, Inc		10,512
	73,688	*	Commercial Vehicle Group, Inc		195
	3,069,688		Compagnie de Saint-Gobain		134,834
	19,535		Compagnie d’Entreprises CFE		1,849
	86,400	e	COMSYS Holdings Corp		1,333
	49,967		Concentric AB		566
	837,300		Concepcion Industrial Corp		782
	18,320,000	e	Concord New Energy Group Ltd		991
	73,386	*	Consolidated Infrastructure Group Ltd		143
	1,527		Construcciones y Auxiliar de Ferrocarriles S.A.		487
	205,480	*	Continental Building Products Inc		3,814
	1,087,450	*	Continental Engineering Corp		389
	1,967		Conzzeta AG.		1,311
	960,600	e	Cosco Corp Singapore Ltd		256
	14,185	e	Cosel Co Ltd		136
	169,452		Costain Group plc		863
	32,579		Cramo Oyj (Series B)		670
	114,001		Crane Co		6,140
	778,048		Crompton Greaves Ltd		574

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	4,624,301	e	CRRC Corp Ltd	$	4,658
	6,011		CS Wind Corp		107
	901,590		CSBC Corp Taiwan		450
	1,759,000		CTCI Corp		2,310
	54,696		Cubic Corp		2,186
	541,138		Cummins, Inc		59,493
	172,779		Curtiss-Wright Corp		13,074
	33,641		Daelim Industrial Co		2,675
	6,593		Daetwyler Holding AG.		982
	121,847	*	Daewoo Engineering & Construction Co Ltd		669
	52,809		Daewoo International Corp		998
	75,000		Daewoo Shipbuilding & Marine Engineering Co Ltd		333
	72,100		Daifuku Co Ltd		1,214
	88,641	e	Daihen Corp		403
	36,000		Daiichi Jitsugyo Co Ltd		158
	247,575		Daikin Industries Ltd		18,490
	23,600		Daiwa Industries Ltd		198
	92,000		Dalian Refrigeration Co Ltd		108
	1,292,353		Danaher Corp		122,593
	12,102		Danieli & Co S.p.A.		254
	57,010		Danieli & Co S.p.A. (RSP)		892
	9,071		Dawonsys Co Ltd		213
	110,677		DCC plc		9,761
	180,022	e	Deere & Co		13,860
	10,900		Denyo Co Ltd		112
	103,231		Deutz AG.		487
	29,022	e	Dialight plc		238
	4,478,156		Dialog Group BHD		1,836
	341,343	*	DigitalGlobe, Inc		5,905
	202,761		Diploma plc		2,155
	74,482	*	DIRTT Environmental Solutions		310
	8,220,460		DMCI Holdings, Inc		2,393
	38,852		DMG Mori AG.		1,806
	1,034,376	*	Dogan Sirketler Grubu Holdings		198
	80,519	e	Donaldson Co, Inc		2,569
	141,607		Dong Yang Gang Chul Co Ltd		925
	191,169		Dongkuk Structures & Construction Co Ltd		917
	5,990		Doosan Corp		463
	21,971	*	Doosan Engine Co Ltd		66
	394,609		Doosan Heavy Industries and Construction Co Ltd		7,461
	231,813	*	Doosan Infracore Co Ltd		1,322
	87,982		Douglas Dynamics, Inc		2,016
	837,880		Dover Corp		53,901
	33,427	*	Ducommun, Inc		510
	93,264		Duerr AG.		7,315
	65,598	e	Duro Felguera S.A.		114
	68,556	*	DXP Enterprises, Inc		1,204
	117,724	*,e	Dycom Industries, Inc		7,613
	5,017,800		Dynasty Ceramic PCL		630
	1,044		e Tec E&C Ltd		97
	386,127		Eaton Corp		24,156
	1,420,828		Ebara Corp		5,928

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	24,706		Eicher Motors Ltd	$	7,154
	151,680		Eiffage S.A.		11,639
	61,404		Elbit Systems Ltd		5,773
	1,770		Electra Israel Ltd		242
	474,400	*,g	Elementia SAB de C.V.		572
	36,444	*,e,g	Eltel AB		392
	162,768		EMCOR Group, Inc		7,911
	375,358		Emerson Electric Co		20,412
	1,011,584		Empresa Brasileira de Aeronautica S.A.		6,710
	516,300	*,e	Empresas ICA Sociedad Controladora S.A. de C.V.		123
	56,357		Encore Wire Corp		2,194
	4,062,000	*,e	Enerchina Holdings Ltd		194
	177,914		EnerSys		9,913
	43,131	*	Engility Holdings, Inc		809
	178,369		Engineers India Ltd		458
	432,324		Enka Insaat ve Sanayi AS		749
	75,746	*,e	Enphase Energy, Inc		176
	93,233		EnPro Industries, Inc		5,378
	464,000	e	Enric Energy Equipment Holdings Ltd		247
	30,000	e	EPCO Co Ltd		320
	68,507		ESCO Technologies, Inc		2,670
	48,926		Escorts Ltd		103
	71,807	*	Esterline Technologies Corp		4,601
	707,954		European Aeronautic Defence and Space Co		46,907
	3,504,000		EVA Precision Industrial Holdings Ltd		520
	73,338		Exco Technologies Ltd		847
	20,039	*,e	FACC AG.		116
	9,639		Faiveley S.A.		1,013
	154,041		Fanuc Ltd		23,856
	672,000		Far East Global Group Ltd		90
	6,766,143		Far Eastern Textile Co Ltd		5,526
	1,014,472	e	Fastenal Co		49,709
	11,215,000	*,e	FDG Electric Vehicles Ltd		623
	257,715		Federal Signal Corp		3,417
	1,362		Feintool International Holding AG.		126
	171,374		Fenner plc		334
	496,389		Ferrovial S.A.		10,653
	448,541	*,e	Fincantieri S.p.A		176
	188,060	*	Finmeccanica S.p.A.		2,381
	181,760		Finning International, Inc		2,669
	139,765		Finolex Cables Ltd		593
	420,000	e	First Tractor Co		233
	107,333		Flowserve Corp		4,767
	41,622	e	FLSmidth & Co AS		1,743
	361,444		Fluor Corp		19,410
	211,391	*,e	Fomento de Construcciones y Contratas S.A.		1,825
	2,571		Force Motors Ltd		111
	552,064		Fortune Brands Home & Security, Inc		30,938
	297,330		Foshan Electrical and Lighting Co Ltd		233
	2,518,285	e	Fosun International		3,588
	115,883		Franklin Electric Co, Inc		3,728
	114,910		Freightcar America, Inc		1,790

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	369,800	e	Fudo Tetra Corp	$	413
	61,926	*,e	FuelCell Energy, Inc		419
	1,227,438		Fuji Electric Holdings Co Ltd		4,244
	154,592	e	Fuji Machine Manufacturing Co Ltd		1,576
	887,978		Fujikura Ltd		4,174
	156,300		Fujitec Co Ltd		1,592
	146,000		Fukuda Corp		1,462
	11,900	e	Fukushima Industries Corp		276
	346,000		Furukawa Co Ltd		510
	883,000		Furukawa Electric Co Ltd		1,907
	107,919		Futaba Corp/Chiba		1,526
	260,834		Galliford Try plc		5,367
	541,807		Gamesa Corp Tecnologica S.A.		10,662
	2,047,251		Gamuda BHD		2,582
	157,264	e	GATX Corp		7,470
	15,297		Gayatri Projects Ltd		121
	43,379		GEA Group AG.		2,117
	8,542	e	Geberit AG.		3,192
	27,500		Gecoss Corp		251
	168,276	*,e	Generac Holdings, Inc		6,267
	170,475		General Cable Corp		2,081
	663,024		General Dynamics Corp		87,101
	26,437,655		General Electric Co		840,453
	4,934		Georg Fischer AG.		3,984
	3,523		Gesco AG.		297
	115,759	*	Gibraltar Industries, Inc		3,311
	10,700	e	Giken Seisakusho Co, Inc		194
	264,893		Global Brass & Copper Holdings, Inc		6,609
	50,156		Glory Ltd		1,704
	1,280,791		GMR Infrastructure Ltd		224
	56,545		Gorman-Rupp Co		1,466
	72,121		Graco, Inc		6,055
	1,923,635		Grafton Group plc		19,926
	25,866	e	Graham Corp		515
	94,129		Granite Construction, Inc		4,499
	152,985	*	Great Lakes Dredge & Dock Corp		682
	956,000	*,e	Greater China Financial Holdings Ltd		49
	68,627		Greaves Cotton Ltd		128
	64,598	e	Greenbrier Cos, Inc		1,785
	81,449		Griffon Corp		1,258
	548,161	e	Grupo Carso S.A. de C.V. (Series A1)		2,556
	175,700	*,e	Grupo Rotoplas SAB de C.V.		340
	62,413	*	GS Engineering & Construction Corp		1,492
	315,000		GS Yuasa Corp		1,346
	532,100		Gunkul Engineering PCL		400
	1,198,000	*,e	Guodian Technology & Environment Group Corp Ltd		79
	193,050		GWA International Ltd		334
	75,259		H&E Equipment Services, Inc		1,319
	869,360	e	Haitian International Holdings Ltd		1,494
	36,481	e	Haldex AB		321
	25,244	*	Halim Co Ltd		99
	229,796		Hangzhou Steam Turbine Co		279

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	57,848	*	Hanjin Heavy Industries & Construction Co Ltd	$	184
	2,630,395		Hanwa Co Ltd		11,099
	45,246		Hanwha Corp		1,405
	502,200		HAP Seng Consolidated BHD		969
	2,082,000	e	Harbin Power Equipment		840
	23,100	e	Harmonic Drive Systems, Inc		591
	355,590		Harsco Corp		1,938
	365,218		Havells India Ltd		1,771
	493,700		Hazama Ando Corp		2,401
	169,458	*,e	HC2 Holdings, Inc		647
	472,368	*	HD Supply Holdings, Inc		15,621
	51,927		HEICO Corp		3,122
	135,165		HEICO Corp (Class A)		6,434
	199,730	*,e	Heidelberger Druckmaschinen		451
	276,369	*	Hellenic Technodomiki Tev S.A.		396
	69,568	e	Hexagon Composites ASA		196
	506,453		Hexcel Corp		22,137
	37,800	e	Hibiya Engineering Ltd		528
	154,727		Hillenbrand, Inc		4,634
	413,825	*	Hindustan Construction Co		122
	323,120		Hino Motors Ltd		3,492
	18,300		Hisaka Works Ltd		134
	56,091	e	Hitachi Construction Machinery Co Ltd		890
	42,700		Hitachi Koki Co Ltd		282
	139,100		Hitachi Zosen Corp		660
	232,384		Hiwin Technologies Corp		1,028
	5,793,000	*	HKC Holdings Ltd		103
	81		Hochtief AG.		10
	231,835		Hock Seng Lee BHD		119
	5,273,407		Honeywell International, Inc		590,885
	1,382,800		Hopewell Holdings		4,465
	97,400		Hoshizaki Electric Co Ltd		8,124
	103,066		Hosken Consolidated Investments Ltd		785
	18,230		Houston Wire & Cable Co		127
	2,621,000	e	Hsin Chong Construction Group Ltd		189
	109,800	m	Huangshi Dongbei Electrical Appliance Co Ltd		196
	41,912		Hubbell, Inc		4,440
	25,693		Huber & Suhner AG.		1,336
	62,155		Hudaco Industries Ltd		455
	292,028		Huntington Ingalls		39,990
	25,682		Hurco Cos, Inc		847
	6,866		Hy-Lok Corp		165
	23,607		Hyster-Yale Materials Handling, Inc		1,572
	7,002		Hyundai Corp		141
	65,337		Hyundai Development Co		2,627
	8,480	*	Hyundai Elevator Co Ltd		406
	127,633		Hyundai Engineering & Construction Co Ltd		4,707
	43,541	*	Hyundai Heavy Industries		4,059
	10,212	*	Hyundai Mipo Dockyard		574
	22,845	*	Hyundai Rotem Co Ltd		347
	21,600		Idec Corp		205
	99,454		IDEX Corp		8,243

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,977,314		IJM Corp BHD	$	6,309
	19,608		Iljin Holdings Co Ltd		176
	484,911		Illinois Tool Works, Inc		49,674
	75,772		IMARKETKOREA, Inc		1,256
	81,379		IMI plc		1,112
	43,163		Implenia AG.		2,710
	422,016		Impregilo S.p.A.		1,781
	27,391	e	IMS-Intl Metal Service		394
	52,610		Inaba Denki Sangyo Co Ltd		1,655
	126,100		Inabata & Co Ltd		1,251
	70,196		Indus Holding AG.		3,457
	41,691		Industria Macchine Automatiche S.p.A.		2,445
	199,420		Industries Qatar QSC		5,930
	66,800		Indutrade AB		4,097
	8,323		Ingersoll-Rand India Ltd		81
	2,512,818		Ingersoll-Rand plc		155,820
	88,097		Insteel Industries, Inc		2,693
	58,832		Interpump Group S.p.A.		859
	318,033		Interserve plc		1,982
	112,345		Invicta Holdings Ltd		398
	154,969		Inwido AB		1,907
	57,400		Iochpe-Maxion S.A.		202
	760,473		IRB Infrastructure Developers Ltd		2,672
	8,877		IS Dongseo Co Ltd		367
	151,000	e	Iseki & Co Ltd		296
	1,847		ISGEC Heavy Engineering Ltd		114
	16,323,301		Ishikawajima-Harima Heavy Industries Co Ltd		34,551
	1,675,550	*	Italian-Thai Development PCL		347
	2,685,433	e	Itochu Corp		33,001
	104,330		ITT Corp		3,849
	64,128	*	IVRCL Infrastructures & Projects Ltd		6
	153,000	e	Iwatani International Corp		888
	146,305	*	Jacobs Engineering Group, Inc		6,372
	2,802,635		Jain Irrigation Systems Ltd		2,551
	9,300	e	Jamco Corp		233
	56,604	e	Japan Pulp & Paper Co Ltd		162
	303,000		Japan Steel Works Ltd		955
	211,836	e	Jardine Matheson Holdings Ltd		12,083
	2,795,776		JG Summit Holdings (Series B)		4,819
	56,481	e	JGC Corp		845
	98,974		John Bean Technologies Corp		5,583
	119,406	g	John Laing Group plc		391
	681,375		Johnson Electric Holdings Ltd		2,106
	651,360	e	Joy Global, Inc		10,467
	1,023,591		JTEKT Corp		13,283
	26,200	e	Juki Corp		238
	15,744		Jungheinrich AG.		1,434
	3,337	*	JVM Co Ltd		144
	59,302		Kadant, Inc		2,678
	46,904		Kajaria Ceramics Ltd		678
	250,724		Kajima Corp		1,571
	38,227		Kalpataru Power Transmission Ltd		118

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	230,300	*	Kama Co Ltd	$	316
	66,816	e	Kaman Corp		2,852
	66,600		Kamei Corp		669
	60,900		Kanamoto Co Ltd		1,433
	126,000	e	Kandenko Co Ltd		897
	470,000		Kanematsu Corp		684
	1,311,284		KAP Industrial Holdings Ltd		572
	5,371		Kardex AG.		442
	15,200		Katakura Industries Co Ltd		160
	83,000	e	Kato Works Co Ltd		322
	788,171	e	Kawasaki Heavy Industries Ltd		2,274
	570,552		KBR, Inc		8,832
	16,768		KCC Corp		6,097
	61,861		KEC International Ltd		114
	376,146	e	Keihan Electric Railway Co Ltd		2,650
	59,502		Keller Group plc		735
	27,292	e	Kendrion NV		672
	141,613		Kennametal, Inc		3,185
	12,193		KEPCO Engineering & Construction Co, Inc		333
	1,771,077	e	Keppel Corp Ltd		7,657
	98,275	*,e	KEYW Holding Corp		653
	76,782		Kier Group plc		1,414
	372,800		Kinden Corp		4,569
	98,500		King Slide Works Co Ltd		1,137
	273,920		Kingspan Group plc		7,278
	102,000		Kinik Co		168
	209,946		KION Group AG.		12,214
	215,500		Kitz Corp		932
	81,967	e	Kloeckner & Co AG.		801
	170,674	*	KLX, Inc		5,485
	964,558		KOC Holding AS		4,899
	36,929		Kolon Corp		1,992
	564,083		Komatsu Ltd		9,590
	8,663		Komax Holding AG.		1,963
	176,190		Komori Corp		2,049
	298,435	e	Kone Oyj (Class B)		14,364
	42,798	e	Konecranes Oyj		1,020
	197,808	*	Koninklijke BAM Groep NV		934
	1,924,848		Koninklijke Philips Electronics NV		54,826
	63,445		Korea Aerospace Industries Ltd		3,616
	7,044		Korea Cast Iron Pipe Industries Co Ltd		70
	16,218		Korea Electric Terminal Co Ltd		1,346
	4,094	*	Kornit Digital Ltd		41
	140,184	*,e	Kratos Defense & Security Solutions, Inc		694
	40,173		Krones AG.		4,832
	1,049,758		Kubota Corp		14,329
	19,938	e	KUKA AG.		2,083
	929,000		Kumagai Gumi Co Ltd		2,357
	20,006	*	Kumho Industrial Co Ltd		213
	316,000		Kung Long Batteries Industrial Co Ltd		1,394
	182,616		Kuo Toong International Co Ltd		162
	25,698		Kurita Water Industries Ltd		585

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	87,470	e	Kuroda Electric Co Ltd	$	1,308
	72,900		Kyokuto Kaihatsu Kogyo Co Ltd		737
	316,100		Kyowa Exeo Corp		3,508
	74,000	e	Kyudenko Corp		1,760
	5,345		Kyung Dong Navien Co Ltd		162
	404,575		L-3 Communications Holdings, Inc		47,942
	2,565		Lakshmi Machine Works Ltd		129
	365,243		Larsen & Toubro Ltd		6,710
	19,800	*	Lawson Products, Inc		388
	38,873		LB Foster Co (Class A)		706
	124,248		Legrand S.A.		6,945
	146,501		Lennox International, Inc		19,805
	233,604		LG Corp		13,995
	12,795		LG Hausys Ltd		1,550
	26,992		LG International Corp		846
	118,265		Lincoln Electric Holdings, Inc		6,927
	58,105	e	Lindab International AB		464
	26,691	e	Lindsay Corp		1,911
	22,565		LISI		593
	153,865	e	LIXIL Group Corp		3,138
	683,505		Lockheed Martin Corp		151,396
	4,276,000		Lonking Holdings Ltd		761
	85,472		LS Cable Ltd		3,351
	13,855		LS Industrial Systems Co Ltd		578
	72,839		LSI Industries, Inc		856
	256,000	*,e	Luoyang Glass Co Ltd		147
	42,385	*	Lydall, Inc		1,378
	12,285		Mabuchi Motor Co Ltd		572
	31,053		MacDonald Dettwiler & Associates Ltd		1,973
	1,893,000	e	Maeda Corp		14,089
	11,300	e	Maeda Kosen Co Ltd		115
	146,000		Maeda Road Construction Co Ltd		2,402
	14,404		Magellan Aerospace Corp		181
	92,875	*,e	Maire Tecnimont S.p.A		280
	398,748		Makino Milling Machine Co Ltd		2,443
	26,807		Makita Corp		1,662
	1,991,500		Malaysian Resources Corp BHD		638
	25,331		MAN AG.		2,739
	8,684		Manitou BF S.A.		149
	376,342	e	Manitowoc Co, Inc		1,630
	3,387,862	*,e	Manitowoc Foodservice, Inc		49,937
	9,682		Mannai Corp QSC		245
	435,500		Marcopolo S.A.		289
	1,977,459	e	Marubeni Corp		10,005
	3,337,295		Masco Corp		104,958
	102,274	*	Masonite International Corp		6,699
	226,973	*	Mastec, Inc		4,594
	28,000		Max Co Ltd		288
	1,668,559		Meggitt plc		9,727
	326,000	e	Meidensha Corp		1,484
	306,909		Melrose Industries plc		1,570
	226,029	*	Meritor, Inc		1,822

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	10,100	e	METAWATER Co Ltd	$	252
	25,774		Metka S.A.		191
	30,093	e	Metso Oyj		717
	71,003		Micron Machinery Co Ltd		1,882
	173,462	*	Middleby Corp		18,521
	34,461	*,e	Milacron Holdings Corp		568
	24,632		Miller Industries, Inc		500
	323,000	e	Minebea Co Ltd		2,518
	419,700		Miraito Holdings Corp		3,339
	250,900	e	MISUMI Group, Inc		3,587
	1,882,894		Mitsubishi Corp		31,861
	1,891,757		Mitsubishi Electric Corp		19,822
	3,801,952		Mitsubishi Heavy Industries Ltd		14,125
	29,200		Mitsubishi Nichiyu Forklift Co Ltd		119
	120,700		Mitsuboshi Belting Co Ltd		971
	1,985,564	e	Mitsui & Co Ltd		22,831
	632,000	e	Mitsui Engineering & Shipbuilding Co Ltd		943
	68,900	e	Miura Co Ltd		1,284
	3,438,230		MMC Corp BHD		1,930
	254,747	e	Monadelphous Group Ltd		1,388
	155,100	e	MonotaRO Co Ltd		4,610
	142,619	*	Moog, Inc (Class A)		6,515
	375,590		Morgan Crucible Co plc		1,226
	91,200		Mori Seiki Co Ltd		837
	28,500		Morita Holdings Corp		333
	77,018	e	Mota Engil SGPS S.A.		163
	292,829	*	MRC Global, Inc		3,848
	145,312		MSC Industrial Direct Co (Class A)		11,089
	57,372		MTU Aero Engines Holding AG.		5,491
	167,833		Mueller Industries, Inc		4,938
	651,814		Mueller Water Products, Inc (Class A)		6,440
	1,000,600		Muhibbah Engineering M BHD		620
	1,116,126	e	Murray & Roberts Holdings Ltd		953
	67,261	*	MYR Group, Inc		1,689
	40,627		Nabtesco Corp		911
	191,332	e	Nachi-Fujikoshi Corp		666
	2,295,276		Nagarjuna Construction Co		2,626
	230,500		Nagase & Co Ltd		2,531
	68,000	e	Namura Shipbuilding Co Ltd		509
	366,961		National Central Cooling Co PJSC		120
	11,698	e	National Presto Industries, Inc		980
	127,916	*,e	Navistar International Corp		1,602
	278,807		NCC AB (B Shares)		10,148
	188,722	*	NCI Building Systems, Inc		2,680
	7,800	e	NEC Capital Solutions Ltd		110
	31,627	*,e	Neff Corp		235
	114,803	e	New Flyer Industries, Inc		2,952
	23,708	*	Nexans S.A.		1,064
	386,054		NGK Insulators Ltd		7,124
	70,960		Nibe Industrier AB (Series B)		2,432
	243,000		Nichias Corp		1,452
	12,400		Nichiden Corp		321

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	21,100		Nichiha Corp	$	319
	54,025		Nidec Corp		3,697
	228,000		Nippo Corp		3,827
	28,700	e	Nippon Densetsu Kogyo Co Ltd		577
	174,000		Nippon Koei Co Ltd		548
	260,000		Nippon Road Co Ltd		1,207
	283,730	*,e	Nippon Sharyo Ltd		698
	745,000	*,e	Nippon Sheet Glass Co Ltd		529
	277,450		Nippon Steel Trading Co Ltd		924
	49,000		Nippon Thompson Co Ltd		175
	823,000	e	Nishimatsu Construction Co Ltd		3,529
	14,600		Nishio Rent All Co Ltd		346
	328,400		Nisshinbo Industries, Inc		3,483
	37,400		Nissin Electric Co Ltd		408
	42,900		Nitta Corp		1,081
	140,000	*	Nitto Boseki Co Ltd		451
	81,700		Nitto Kogyo Corp		1,301
	9,473		Nitto Kohki Co Ltd		188
	23,282		NKT Holding AS		1,342
	64,506	e	NN, Inc		882
	895,571	*,e	Noble Group Ltd		292
	46,656		Nolato AB (B Shares)		1,307
	182,558	*	Nordex AG.		4,996
	156,061		Nordson Corp		11,867
	223,919		Noritake Co Ltd		505
	22,000		Noritz Corp		358
	27,327		NORMA Group		1,525
	23,812	*	Nortek, Inc		1,150
	1,007,544		Northrop Grumman Corp		199,393
	31,563	*,e	Northwest Pipe Co		291
	74,702	*,e	NOW, Inc		1,324
	529,354		NSK Ltd		4,845
	564,000		NTN Corp		1,798
	12,261	*,e	NV5 Holdings, Inc		329
	3,758,364		NWS Holdings Ltd		5,994
	33,700	e	Obara Corp		1,208
	1,335,554		Obayashi Corp		13,164
	117,235	e	Obrascon Huarte Lain S.A.		747
	174,402		OC Oerlikon Corp AG.		1,799
	4,568		OHB AG.		99
	126,900		Oiles Corp		1,895
	31,900	e	Okabe Co Ltd		228
	243,641	e	Okuma Holdings, Inc		1,702
	479,000	e	Okumura Corp		2,529
	8,073	e	Omega Flex, Inc		281
	60,870	*	Orascom Construction Ltd		360
	278,066		Orbital ATK, Inc		24,175
	33,000	e	Organo Corp		122
	76,404	*	Orion Marine Group, Inc		396
	74,000	e	OSG Corp		1,380
	81,375	e	Oshkosh Truck Corp		3,326
	426,300		OSJB Holdings Corp		981

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	330,596		Osram Licht AG.	$	16,995
	7,617		Otokar Otobus Karoseri Sanayi AS		292
	127,998	e	Outotec Oyj		482
	2,775,491		Owens Corning, Inc		131,225
	466,339		Paccar, Inc		25,504
	26,379		Palfinger AG.		757
	730,704		Parker Hannifin Corp		81,167
	84,205	*	Patrick Industries, Inc		3,822
	489,584		Peab AB (Series B)		4,327
	72,515		Pentair plc		3,935
	433,800		Penta-Ocean Construction Co Ltd		1,816
	79,979		PER Aarsleff A.S.		2,195
	32,044		Pfeiffer Vacuum Technology AG.		3,587
	114,858	*	Pgt, Inc		1,130
	10,860	e	Pinguely-Haulotte		173
	18,818	e	Pkc Group Oyj		333
	1,500		Plasson		38
	411,786	*,e	Plug Power, Inc		844
	53,182	*	Ply Gem Holdings, Inc		747
	26,112		Ponsse Oy		654
	20,839		Porr AG.		592
	21,993		Powell Industries, Inc		656
	13,200	*,e	Power Solutions International, Inc		182
	52,532	*	PowerSecure International, Inc		982
	10,044	e	Preformed Line Products Co		367
	92,118	e	Primoris Services Corp		2,238
	66,932	*,e	Proto Labs, Inc		5,160
	183,115		Prysmian S.p.A.		4,143
	13,840,105		PT Adhi Karya Persero Tbk		2,805
	1,184,400		PT AKR Corporindo Tbk		620
	7,236,600		PT Arwana Citramulia Tbk		341
	1,200,000		PT Asahimas Flat Glass Tbk		603
	2,803,600	*,m	PT Inovisi Infracom Tbk		25
	1,943,500		PT Pembangunan Perumahan Tbk		565
	3,609,800	*	PT Sitara Propertindo Tbk		174
	10,738,700		PT Surya Semesta Internusa Tbk		583
	4,075,061		PT United Tractors Tbk		4,701
	9,382,300		PT Waskita Karya Persero Tbk		1,418
	1,918,600		PT Wijaya Karya		377
	1,886,500		QinetiQ plc		6,169
	246,613		Quanex Building Products Corp		4,281
	717,441	*	Quanta Services, Inc		16,185
	1,347		R Stahl AG.		47
	74,700		Raito Kogyo Co Ltd		689
	174,065		Ramirent Oyj		1,137
	137,100		Randon Participacoes S.A.		116
	5,411		Rational AG.		2,892
	215,687		Raubex Group Ltd		268
	92,928	e	Raven Industries, Inc		1,489
	1,613,608		Raytheon Co		197,877
	55,563		RBC Bearings, Inc		4,071
	588,917		Rechi Precision Co Ltd		485

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	98,889		Regal-Beloit Corp	$	6,239
	462,898		Reunert Ltd		2,172
	790,876		Rexel S.A.		11,274
	366,124	*	Rexnord Corp		7,403
	33,670		Rheinmetall AG.		2,685
	480,583		Rich Development Co Ltd		149
	6,235		Rieter Holding AG.		1,346
	184,367		Rockwell Automation, Inc		20,972
	364,748	e	Rockwell Collins, Inc		33,633
	5,980		Rockwool International AS (B Shares)		950
	1,246,996		Rolls-Royce Group plc		12,187
	489,264		Roper Industries, Inc		89,423
	773,948		Rotork plc		2,029
	85,885	*	Rush Enterprises, Inc (Class A)		1,567
	60,359		Russel Metals, Inc		919
	1,107,000		Ryobi Ltd		4,361
	58,088		S&T Dynamics Co Ltd		703
	55,245		Saab AB (Class B)		1,893
	275,685	e	Sacyr Vallehermoso S.A.		530
	121,612		Sadbhav Engineering Ltd		547
	584,092		Safran S.A.		40,770
	92,117		Saft Groupe S.A.		2,781
	563,151		Salfacorp S.A.		378
	7,439		Sam Yung Trading Co Ltd		156
	22,057	*	Samho International Co Ltd		301
	36,430		Sammok S-Form Co Ltd		708
	121,453	*	Samsung Engineering Co Ltd		1,152
	166,017		Samsung Heavy Industries Co Ltd		1,608
	34,230		Samsung Techwin Co Ltd		1,208
	125,623		San Shing Fastech Corp		250
	279,186	e	Sandvik AB		2,883
	126,600	e	Sanki Engineering Co Ltd		1,013
	50,000		Sanko Gosei Ltd		164
	23,100		Sankyo Tateyama, Inc		299
	332,100		Sanwa Shutter Corp		2,471
	1,014,000	*,e	Sany Heavy Equipment International		208
	32,000		Sanyo Denki Co Ltd		149
	21,249		Schindler Holding AG.		3,915
	16,966		Schindler Holding AG. (Registered)		3,107
	51,824	*	Schneider Electric Infrastructure Ltd		114
	2,179,425		Schneider Electric S.A.		137,348
	831		Schweiter Technologies AG.		766
	798,132		Seibu Holdings, Inc		16,877
	124,600		Sekisui Jushi Corp		1,668
	1,058,483	e	SembCorp Industries Ltd		2,369
	674,443	e	SembCorp Marine Ltd		824
	8,934		Semperit AG. Holding		346
	356,012		Senior plc		1,166
	5,424	*	Sensata Technologies Holding BV		211
	70,138	e	Seven Network Ltd		293
	14,465		SFS Group AG.		1,076
	90,336	*,e	SGL Carbon AG.		927

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	253,908	*,m	SGSB Group Co Ltd	$	281
	100,200	*,m	Shanghai Automation Instrumentation Co Ltd		148
	336,980		Shanghai Diesel Engine Co Ltd		293
	10,621,304	e	Shanghai Electric Group Co Ltd		4,851
	222,100		Shanghai Erfangji Co Ltd		297
	890,900		Shanghai Highly Group Co Ltd		760
	1,959,695	e	Shanghai Industrial Holdings Ltd		4,622
	2,112,000		Shanghai Prime Machinery Co Ltd		324
	76,011		Shapir Engineering and Industry Ltd		122
	85,300		Shibuya Kogyo Co Ltd		1,001
	261,266		Shikun & Binui Ltd		463
	75,700	e	Shima Seiki Manufacturing Ltd		1,261
	431,451		Shimizu Corp		3,654
	842,000		Shin Zu Shing Co Ltd		3,006
	262,590		Shinmaywa Industries Ltd		1,861
	15,700	e	SHO-BOND Holdings Co Ltd		597
	5,200		Showa Aircraft Industry Co Ltd		50
	1,468,765		Siemens AG.		155,338
	133,483		Siemens India Ltd		2,216
	469,859		SIG plc		984
	3,292,907		Sime Darby BHD		6,712
	103,475		Simpson Manufacturing Co, Inc		3,950
	2,830,000		Singamas Container Holdings Ltd		307
	1,307,687	e	Singapore Technologies Engineering Ltd		3,132
	649,457		Sino Thai Engineering & Construction PCL		418
	3,967,287		Sinopec Engineering Group Co Ltd		3,211
	1,774,000	e	Sinotruk Hong Kong Ltd		834
	600,850		Sintex Industries Ltd		698
	99,500		Sintokogio Ltd		879
	40,516		SK C&C Co Ltd		7,907
	140,732		SK Networks Co Ltd		787
	507,371		Skanska AB (B Shares)		11,574
	109,678	e	SKF AB (B Shares)		1,977
	19,956		SKF India Ltd		381
	493,300		SKP Resources BHD		163
	9,370	*	SLM Solutions Group AG.		237
	216,401		SM Investments Corp		4,460
	29,092		SMC Corp		6,741
	119,830		Smiths Group plc		1,848
	296,264		Snap-On, Inc		46,510
	331,860		SNC-Lavalin Group, Inc		12,125
	242,016	*	SOCAM Development Ltd		125
	39,200		Sodick Co Ltd		293
	3,075,600	e	Sojitz Holdings Corp		6,314
	5,539		Solar Holdings AS (B Shares)		282
	115,632	*,e	SolarCity Corp		2,842
	26,010	*	Sparton Corp		468
	461,113		Speedy Hire plc		258
	62,267	*	SPIE S.A.		1,238
	160,505		Spirax-Sarco Engineering plc		8,379
	724,121	*	Spirit Aerosystems Holdings, Inc (Class A)		32,846
	501,482		SPX Corp		7,532

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	611,253	*	SPX FLOW, Inc	$	15,330
	114,400	*	Sriracha Construction PCL		45
	87,011		Standex International Corp		6,770
	507,686		Stanley Works		53,414
	30,600	e	Star Micronics Co Ltd		343
	115,021	*,e	Ste Industrielle d’Aviation Latecoere S.A.		460
	101,236		Sterlite Technologies Ltd		138
	4,530,820		STP & I PCL		1,298
	485,000	*,e	STX OSV Holdings Ltd		71
	5,008		Sulzer AG.		497
	1,485,768		Sumitomo Corp		14,743
	49,400		Sumitomo Densetsu Co Ltd		639
	5,151,537		Sumitomo Heavy Industries Ltd		21,264
	1,992,300		Sumitomo Mitsui Construction C		1,789
	10,683,988	*	Summit Ascent Holdings Ltd		2,469
	55,573		Sun Hydraulics Corp		1,844
	16,459		Sung Kwang Bend Co Ltd		169
	42,307	*,e	Sunrun, Inc		274
	93,000		Sunspring Metal Corp		116
	478,922		Sunway Construction Group BHD		199
	1,764,786	*	Suzlon Energy Ltd		378
	132,526	e	Sweco AB (B Shares)		2,180
	354,000		Syncmold Enterprise Corp		593
	266,000		Tadano Ltd		2,468
	8,557	*	Taewoong Co Ltd		136
	34,278	*	Taeyoung Engineering & Construction		179
	108,000	e	Taihei Dengyo Kaisha Ltd		900
	22,400		Taikisha Ltd		540
	1,299,121		Taisei Corp		8,579
	871,000	*	Taiwan Glass Industrial Corp		365
	195,593		Takamatsu Corp		4,213
	66,929		Takara Standard Co Ltd		608
	74,900	e	Takasago Thermal Engineering Co Ltd		940
	31,800		Takeuchi Manufacturing Co Ltd		460
	153,000		Takuma Co Ltd		1,370
	78,673		TAL International Group, Inc		1,215
	64,438	*,g	Talgo S.A.		362
	16,809		Tarkett S.A.		526
	132,215	*,e	Taser International, Inc		2,595
	271,000		Tat Hong Holdings Ltd		128
	129,100		Tatsuta Electric Wire and Cable Co Ltd		408
	4,820,400	*,e	Tech Pro Technology Development Ltd		1,460
	4,882,443		Teco Electric and Machinery Co Ltd		3,980
	17,800		Teikoku Sen-I Co Ltd		243
	824,094		Tekfen Holding AS		1,593
	84,000	e	Tekken Corp		202
	85,452	*	Teledyne Technologies, Inc		7,532
	55,180		Tennant Co		2,841
	1,477,095		Terex Corp		36,750
	44,229		Texmaco Rail & Engineering Ltd		70
	53,770	e	Textainer Group Holdings Ltd		798
	3,666,115		Textron, Inc		133,667

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	383,544		Thales S.A.	$	33,516
	27,548	*,e	The ExOne Company		362
	46,925		Thermax Ltd		538
	78,400	*	Thermon Group Holdings		1,377
	181,692	e	THK Co Ltd		3,345
	1,300,832		Timken Co		43,565
	16,827		Timken India Ltd		111
	164,557	e	Titan International, Inc		885
	85,956	*,e	Titan Machinery, Inc		994
	14,620		TK Corp		147
	104,565		TKH Group NV		4,470
	276,000	e	Toa Corp/Tokyo		652
	13,200		Tocalo Co Ltd		237
	393,000		Toda Corp		1,900
	89,000		Toenec Corp		549
	183,200	e	Tokai Corp		953
	132,260		Tokyu Construction Co Ltd		1,080
	126,764		Toro Co		10,917
	96,128		Toromont Industries Ltd		2,539
	1,124,957	*,e	Toshiba Corp		2,187
	466,964	e	Toshiba Machine Co Ltd		1,437
	35,000	e	Toshiba Plant Systems & Services Corp		428
	23,700		Totetsu Kogyo Co Ltd		727
	187,900	e	Toto Ltd		5,849
	202,400	e	Toyo Construction Co Ltd		882
	100,000	e	Toyo Engineering Corp		260
	12,400	e	Toyo Tanso Co Ltd		154
	248,553		Toyota Tsusho Corp		5,611
	296,515		Trakya Cam Sanayi AS		218
	229,204	*,e	TransDigm Group, Inc		50,503
	858,365		Travis Perkins plc		22,486
	225,932		Trelleborg AB (B Shares)		4,461
	76,639	e	Trevi Finanziaria S.p.A.		130
	73,069	*	Trex Co, Inc		3,502
	131,737	*	Trimas Corp		2,308
	73,787		Trinity Industries, Inc		1,351
	749,641		Triumph Group, Inc		23,599
	15,100		Trusco Nakayama Corp		599
	242,000		Tsubakimoto Chain Co		1,498
	52,000	e	Tsugami Corp		189
	23,800	e	Tsukishima Kikai Co Ltd		204
	13,300		Tsurumi Manufacturing Co Ltd		190
	127,000		TTCL PCL		58
	798,543		Turk Sise ve Cam Fabrikalari AS		1,038
	13,499	*	Turk Traktor ve Ziraat Makineleri AS		402
	151,973	*	Tutor Perini Corp		2,362
	30,887		Twin Disc, Inc		313
	470,900		UEM Edgenta BHD		441
	66,125		Ultra Electronics Holdings		1,710
	7,200		Union Tool Co		189
	541,300		Unique Engineering & Construction PCL		281
	493,200		United Engineers Ltd		855

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	778,000		United Integrated Services Co Ltd	$	1,232
	185,730	*	United Rentals, Inc		11,551
	598,169		United Technologies Corp		59,877
	188,093	*	Univar, Inc		3,231
	88,615		Universal Forest Products, Inc		7,605
	47,109		Uponor Oyj		685
	3,525,685	*,e	USG Corp		87,472
	785,400		Ushio, Inc		10,426
	388,541		Valmet Corp		4,274
	103,220		Valmont Industries, Inc		12,783
	404,800		Vanachai Group PCL		139
	59,553	*	Vectrus, Inc		1,355
	20,202	*,e	Veritiv Corp		753
	529,360		Vestas Wind Systems AS		37,299
	421,843		Vesuvius plc		2,010
	50,995	*,e	Vicor Corp		534
	1,874,776		Vinci S.A.		139,154
	87,122		Voltas Ltd		366
	36,900		Voltronic Power Technology Corp		581
	585,748		Volvo AB (B Shares)		6,416
	8,170	*,e	Vossloh AG.		536
	77,035	e	W.W. Grainger, Inc		17,982
	164,857	*	Wabash National Corp		2,176
	239,167	*	WABCO Holdings, Inc		25,572
	60,368	e	Wacker Construction Equipment AG.		959
	18,300	e	Wajax Income Fund		246
	28,300		Wakita & Co Ltd		236
	7,263,000	*	Walsin Lihwa Corp		1,927
	2,601	e	Walter Meier AG.		88
	49,835		Wartsila Oyj (B Shares)		2,253
	84,308		Watsco, Inc		11,360
	91,789		Watts Water Technologies, Inc (Class A)		5,060
	1,786,212		WCT Berhad		774
	575,344		Weg S.A.		2,242
	1,854,868	e	Weichai Power Co Ltd		2,078
	1,852,939		Weir Group plc		29,441
	526,210	*,e	WESCO International, Inc		28,768
	195,587		Westinghouse Air Brake Technologies Corp		15,508
	3,892,567		Wienerberger AG.		74,750
	48,481		Wilson Bayly Holmes-Ovcon Ltd		391
	376,112		Wolseley plc		21,231
	150,509		Woodward Governor Co		7,829
	197,850	e	WSP Global, Inc		5,865
	27,708	*	Xerium Technologies, Inc		145
	398,112		Xxentria Technology Materials Corp		1,080
	558,494		Xylem, Inc		22,842
	10,395		Y G-1 Co Ltd		96
	21,300	e	Yahagi Construction Co Ltd		149
	38,700		YAMABIKO Corp		269
	145,000		Yamazen Corp		1,101
	7,032,649		Yangzijiang Shipbuilding		5,108
	41,906		Yazicilar Holding AS		197

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	460,200		Yinson Holdings BHD	$	328
	96,220	e	YIT Oyj		545
	25,700	e	Yokogawa Bridge Holdings Corp		276
	2,056,000		Yuanda China Holdings Ltd		65
	95,900		Yuasa Trading Co Ltd		2,253
	848,000		Yungtay Engineering Co Ltd		1,211
	201,000		Yurtec Corp		1,677
	7,800	e	Yushin Precision Equipment Co Ltd		140
	168,890	e	Zardoya Otis S.A.		1,960
	24,597		Zehnder Group AG.		992
	22,000	e	Zenitaka Corp		92
	277,400		Zhengzhou Coal Mining Machinery Group Co Ltd		119
	636,895		Zhuzhou CSR Times Electric Co Ltd		3,722
	112,228		Zodiac S.A.		2,241
	24,844		Zumtobel AG.		415
			TOTAL CAPITAL GOODS		8,556,245
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
	39,300	*	51job, Inc (ADR)		1,219
	763,887		AA plc		2,899
	179,178		ABM Industries, Inc		5,789
	154,862		Acacia Research (Acacia Technologies)		587
	272,440	*	ACCO Brands Corp		2,447
	148,643	e	Adcorp Holdings Ltd		151
	326,259		Adecco S.A.		21,224
	427,710	e	ADT Corp		17,647
	103,573	*	Advisory Board Co		3,340
	26,600		Aeon Delight Co Ltd		854
	114,324		AF AB		2,094
	90,708		Aggreko plc		1,401
	8,401		Akka Technologies S.A.		264
	435,977	e	ALS Ltd		1,332
	11,140		Amadeus Fire AG		843
	61,025		American Banknote S.A.		510
	90,692	e	Applus Services S.A.		804
	94,465	*	ARC Document Solutions, Inc		425
	17,736		Assystem		480
	9,500	e	Asukanet Co Ltd		118
	288,422		Atkins WS plc		5,662
	268,082		Babcock International Group		3,651
	17,364		Barrett Business Services, Inc		499
	561,000	*	Beijing Development HK Ltd		124
	15,500	e	Benefit One, Inc		350
	4,405	e	Bertrandt AG.		504
	29,551	e	Bilfinger Berger AG.		1,244
	34,670	e	Black Diamond Group Ltd		113
	769,999		Blue Label Telecoms Ltd		795
	118,433		Brady Corp (Class A)		3,179
	2,243,530		Brambles Ltd		20,784
	142,618		Brink’s Co		4,791
	952,000		Broad Greenstate International Co Ltd		203
	1,416,900	*	Broadspectrum Ltd		1,285

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	54,964	e	Brunel International NV	$	1,155
	385,302		Bureau Veritas S.A.		8,567
	96,019	e	Cabcharge Australia Ltd		238
	210,972		Cape plc		681
	621,383		Capita Group plc		9,277
	3,176,000	*,e	Capital Environment Holdings Ltd		121
	116,545	*	Casella Waste Systems, Inc (Class A)		781
	201,734		Caverion Corp		1,951
	340,091	*	CBIZ, Inc		3,432
	84,839	e	CDI Corp		533
	151,807		CEB, Inc		9,826
	166,797		Ceco Environmental Corp		1,036
	19,190		Cewe Color Holding AG.		1,262
	5,179,259	e	China Everbright International Ltd		5,784
	324,508		Cintas Corp		29,144
	99,174	*,e	Civeo Corp		122
	448,215	*,e	Clean Harbors, Inc		22,115
	58,000		Cleanaway Co Ltd		322
	3,879,712		Cleanaway Waste Management Ltd		2,285
	299,349	e	CNH Industrial NV (NYSE)		2,024
	260,058	*,e	Copart, Inc		10,603
	278,874	e	Covanta Holding Corp		4,702
	45,403	*	CRA International, Inc		892
	157,171	e	Credit Corp Group Ltd		1,247
	506,611	e	Dai Nippon Printing Co Ltd		4,496
	31,300		Daiseki Co Ltd		512
	234,009		Davis Service Group plc		4,036
	84,464		De La Rue plc		542
	142,927		Deluxe Corp		8,932
	317,159		Derichebourg		979
	829,349		Downer EDI Ltd		2,440
	112,816		Dun & Bradstreet Corp		11,629
	102,198	e	Duskin Co Ltd		1,835
	360,271	*,m	Dyax Corp		400
	351,000	*	Dynagreen Environmental Protection Group Co Ltd		168
	1,604,277	e	Edenred		31,102
	458,514	e,g	Elior Participations S.C.A		10,040
	69,541		Elis S.A.		1,350
	19,400		en-japan, Inc		328
	84,088		Ennis, Inc		1,644
	456,425		Equifax, Inc		52,165
	96,015		Essendant, Inc		3,066
	1,315,783		Experian Group Ltd		23,486
	86,601		Exponent, Inc		4,418
	55,295	*	Franklin Covey Co		973
	99,277	*	FTI Consulting, Inc		3,525
	20,200		Funai Soken Holdings, Inc		324
	15,463,000	*,m	Fung Choi Media Group Ltd		115
	66,296		G & K Services, Inc (Class A)		4,856
	88,082		Gategroup Holding AG.		3,930
	21,726		GL Events		434
	46,209	*	GP Strategies Corp		1,266

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,445,303		Group 4 Securicor plc	$	3,944
	8,592		Groupe CRIT		504
	71,102		Gunnebo AB		379
	8,334,826		Hays plc		14,469
	173,770		Healthcare Services Group		6,396
	52,626		Heidrick & Struggles International, Inc		1,247
	27,680	*	Heritage-Crystal Clean, Inc		275
	176,366		Herman Miller, Inc		5,448
	95,500	*	Hill International, Inc		322
	165,486		HNI Corp		6,482
	354,872		HomeServe plc		2,195
	116,432		Horizon North Logistics, Inc		110
	52,100	*	Huron Consulting Group, Inc		3,032
	77,146	*	ICF International, Inc		2,651
	137,530	*	IHS, Inc (Class A)		17,076
	91,002	*,e	Innerworkings, Inc		723
	109,539		Insperity, Inc		5,666
	305,128		Interface, Inc		5,657
	251,151		Intertek Group plc		11,403
	336,252		Intrum Justitia AB		11,850
	257,071	e	IPH Ltd		1,286
	181,826		ISS A.S.		7,292
	9,070		ITAB Shop Concept AB		284
	95,500		Itoki Corp		675
	10,485		Kaba Holding AG.		6,687
	100,858		KAR Auction Services, Inc		3,847
	26,000		KD Holding Corp		134
	87,365		Kelly Services, Inc (Class A)		1,670
	23,575		KEPCO Plant Service & Engineering Co Ltd		1,321
	175,503		Kforce, Inc		3,436
	164,408		Kimball International, Inc (Class B)		1,866
	116,521		Knoll, Inc		2,523
	64,200		Kokuyo Co Ltd		750
	253,392		Korn/Ferry International		7,168
	133,000		Kyodo Printing Co Ltd		399
	142,812		Loomis AB		4,031
	278,624		Manpower, Inc		22,686
	15,062		Matsuda Sangyo Co Ltd		157
	80,055		Matthews International Corp (Class A)		4,120
	58,160		McGrath RentCorp		1,459
	66,835	e	McMillan Shakespeare Ltd		638
	27,400	e	Meitec Corp		957
	635,120		Michael Page International plc		3,884
	674,068	e	Mineral Resources Ltd		3,095
	129,715	*	Mistras Group, Inc		3,213
	350,525		Mitie Group		1,293
	17,172		Mitsubishi Pencil Co Ltd		735
	112,742		Mobile Mini, Inc		3,723
	333,197		Moleskine S.p.A		706
	39,961	e	Morneau Sobeco Income Fund		530
	33,200		Moshi Moshi Hotline, Inc		307
	92,893		MSA Safety, Inc		4,491

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	35,494		Multi-Color Corp	$	1,894
	193,295	*	Navigant Consulting, Inc		3,056
	840,416	e	Nielsen NV		44,256
	11,800		Nippon Kanzai Co Ltd		187
	188,000	e	Nippon Parking Development Co Ltd		208
	145,560	e	Nissha Printing Co Ltd		2,130
	20,745	*	NL Industries, Inc		47
	31,200	e	Nomura Co Ltd		452
	169,200		Okamura Corp		1,614
	126,707	*	On Assignment, Inc		4,678
	14,568		Oyo Corp		158
	80,200	e	Park24 Co Ltd		2,244
	592,156	*	Pendrell Corp		314
	32,800		Pilot Corp		1,251
	644,391		Pitney Bowes, Inc		13,880
	211,699		Programmed Maintenance Services Ltd		240
	169,940	e	Progressive Waste Solutions Ltd		5,284
	234,804	e	Prosegur Cia de Seguridad S.A.		1,321
	118,622		Quad		1,535
	1,103,046		R.R. Donnelley & Sons Co		18,090
	207,316		Randstad Holdings NV		11,467
	350,000	*	Realord Group Holdings Ltd		180
	269,507		Recall Holdings Ltd		1,548
	222,159	e	Recruit Holdings Co Ltd		6,774
	1,805,609		Regus plc		8,196
	4,524,166		Rentokil Initial plc		11,473
	423,361		Republic Services, Inc		20,173
	179,577		Resources Connection, Inc		2,794
	244,808	e	Ritchie Bros Auctioneers, Inc		6,616
	595,075		Robert Half International, Inc		27,719
	310,110		Rollins, Inc		8,410
	239,221		RPS Group plc		713
	412,834	*	RPX Corp		4,649
	19,819		S1 Corp (Korea)		1,533
	580,755		SAI Global Ltd (New)		1,678
	20,052		Sato Corp		427
	2,750		Seche Environnement S.A.		90
	165,754		Secom Co Ltd		12,299
	641,076		Securitas AB (B Shares)		10,601
	719,604	e	Seek Ltd		8,933
	938,982	*,e	Serco Group plc		1,382
	324,880		SG Fleet Group Ltd		875
	7,697		SGS S.A.		16,253
	100,500		Shanghai Youngsun Investment C		269
	357,500	*	Shanghai Zhongyida Co Ltd		255
	491,718		Shanks Group plc		584
	176,825		Shenzhen Dongjiang Environmental Co Ltd		251
	38,968		Societe BIC S.A.		5,855
	132,800		Sohgo Security Services Co Ltd		7,190
	55,553	*	SP Plus Corp		1,337
	54,192		Sporton International, Inc		277
	2,814,336	e	Spotless Group Holdings Ltd		2,725

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,781	e	Stantec, Inc	$	2,053
	237,746		Steelcase, Inc (Class A)		3,547
	370,927	*	Stericycle, Inc		46,807
	63,000		Sunny Friend Environmental Technology Co Ltd		268
	19,784		Synergie S.A		536
	346,520		Taiwan Secom Co Ltd		1,001
	405,670		Taiwan-Sogo Shinkong Security Corp		505
	90,000	e	Takeei Corp		769
	70,757	*	Team, Inc		2,150
	31,600		TechnoPro Holdings, Inc		937
	164,257		Teleperformance		14,427
	140,500		Temp Holdings Co Ltd		2,036
	166,588		Tetra Tech, Inc		4,968
	312,000		Tianjin Capital Environmental Protection Group Co Ltd		189
	147,200	e	Toppan Forms Co Ltd		1,638
	625,669		Toppan Printing Co Ltd		5,246
	111,938	m	Towers Watson & Co		13,283
	264,661		Tox Free Solutions Ltd		620
	281,590	e	Transcontinental, Inc		4,462
	59,001	*	TransUnion		1,629
	44,836	*	TRC Cos, Inc		325
	223,772	*	TriNet Group, Inc		3,211
	197,050	*	TrueBlue, Inc		5,153
	990,693		Tyco International plc		36,368
	46,795		Unifirst Corp		5,106
	63,025		US Ecology, Inc		2,783
	54,870		USG People NV		1,084
	814,993	*	Verisk Analytics, Inc		65,134
	49,090		Viad Corp		1,431
	23,374	*,e	Volt Information Sciences, Inc		176
	9,711		VSE Corp		659
	113,977	*	WageWorks, Inc		5,768
	191,529		Waste Connections, Inc		12,371
	1,209,617		Waste Management, Inc		71,367
	208,490		West Corp		4,758
	25,900	e	Yumeshin Holdings Co Ltd		143
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,209,168
CONSUMER DURABLES & APPAREL - 2.5%
	823,000		361 Degrees International Ltd		255
	222,556		Ability Enterprise Co Ltd		139
	53,337	*	Accell Group NV		1,134
	1,293,493		Adidas-Salomon AG.		151,029
	22,591	*	Agabang&Company		182
	287,540		Aksa Akrilik Kimya Sanayii		1,065
	494,000		Alpargatas S.A.		1,065
	185,200		Alpine Electronics, Inc		2,071
	1,094,358		Altek Corp		939
	298,388		Amer Sports Oyj (A Shares)		8,662
	1,698,157		AmTRAN Technology Co Ltd		989
	1,240,586		Anta Sports Products Ltd		2,731
	1,085,952		Arcelik AS		7,384

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	29,791	e	Arctic Cat, Inc	$	500
	43,000		Arezzo Industria e Comercio S.A.		279
	833,582		Arvind Ltd		3,440
	35,738		Asics Corp		637
	21,632		Bajaj Electricals Ltd		62
	36,104	*,e	Bang & Olufsen AS (B Shares)		391
	2,690,710		Barratt Developments plc		21,601
	6,853	*	Basic House Co Ltd		64
	31,764		Bassett Furniture Industries, Inc		1,012
	29,691		Bata India Ltd		228
	80,915	*,e	Beazer Homes USA, Inc		706
	9,036,911		Belle International Holdings Ltd		5,239
	345,081		Bellway plc		12,981
	428,896		Berkeley Group Holdings plc		19,776
	286,000		Best Pacific International Holdings Ltd		158
	4,121		Bijou Brigitte AG.		263
	105,318	*	Billabong International Ltd		149
	59,251	*,e	Black Diamond, Inc		268
	87,089		Bombay Dyeing & Manufacturing Co Ltd		63
	2,608,000	e	Bosideng International Holdings Ltd		209
	115,072		Bovis Homes Group plc		1,536
	73,411	e	Breville Group Ltd		440
	94,979	*	BRP, Inc		1,421
	22,533	e	Brunello Cucinelli S.p.A		427
	77,358		Brunswick Corp		3,712
	514,758		Burberry Group plc		10,063
	1,410,750	*	Cairn Homes plc		1,858
	185,468		CalAtlantic Group, Inc		6,198
	432,762		Callaway Golf Co		3,947
	230,517		Carter’s, Inc		24,292
	132,015	e	Casio Computer Co Ltd		2,662
	30,895	*	Cavco Industries, Inc		2,887
	18,131		CCC S.A.		775
	2,340,000		Cecep Costin New Materials Grp Ltd		187
	37,472	*,e	Century Communities, Inc		640
	19,633	*	Cherokee, Inc		349
	820,000		China Creative Home Group Ltd		70
	22,118,400		China Dongxiang Group Co		4,480
	1,050,000		China Lilang Ltd		643
	1,131,000	*,m	China Longevity Group Co Ltd		1
	15,800	e	Chofu Seisakusho Co Ltd		366
	124,010		Christian Dior S.A.		22,455
	735,301		Cie Financiere Richemont S.A.		48,567
	1,338,000	m	Citychamp Watch & Jewellery Group Ltd		218
	97,000	e	Clarion Co Ltd		301
	52,400		Cleanup Corp		359
	1,595,106		Coach, Inc		63,948
	80,252	e	Columbia Sportswear Co		4,822
	1,625,200		Consorcio ARA, S.A. de C.V.		610
	9,900		Corona Corp		97
	430,000	e,g	Cosmo Lady China Holdings Co Ltd		348
	802,107		Crest Nicholson Holdings plc		6,466

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	189,032	*,e	CROCS, Inc	$	1,818
	818,022	*,m	Crompton Greaves Consumer Electricals Ltd		1,255
	21,176		CSS Industries, Inc		591
	4,602	*	Cuchen Co Ltd		63
	13,260		Cuckoo Electronics Co Ltd		2,327
	24,254		Culp, Inc		636
	1,041,100		Cyrela Brazil Realty S.A.		3,020
	79,541	*	Deckers Outdoor Corp		4,765
	46,947		De’Longhi S.p.A.		1,067
	7,726		Delta-Galil Industries Ltd		209
	34,090		Descente Ltd		502
	23,529		Dorel Industries, Inc (Class B)		527
	1,006,730		DR Horton, Inc		30,433
	66,601		Duni AB		1,105
	322,261	*	Eclat Textile Co Ltd		4,246
	2,302,230		Electrolux AB (Series B)		60,456
	35,557		Enex Co Ltd		136
	25,548	e	Escalade, Inc		301
	60,814	e	Ethan Allen Interiors, Inc		1,935
	216,700		Even Construtora e Incorporadora S.A.		251
	254,099		Ez Tec Empreendimentos e Participacoes S.A.		1,141
	294,640		Feng TAY Enterprise Co Ltd		1,565
	53,300	e	Fields Corp		890
	9,124		Fila Korea Ltd		760
	14,276	e	Flexsteel Industries, Inc		624
	925		Forbo Holding AG.		1,120
	1,587,852		Formosa Taffeta Co Ltd		1,552
	220,679		Forus S.A.		626
	211,442	*,e	Fossil Group, Inc		9,392
	176,991		Foster Electric Co Ltd		3,733
	53,200		France Bed Holdings Co Ltd		490
	339,999	e	Fuguiniao Co Ltd		170
	90,000		Fujibo Holdings Inc		179
	172,000		Fujitsu General Ltd		2,653
	132,900	*,e	Funai Electric Co Ltd		1,165
	313,400	*	Gafisa S.A.		234
	170,761	e	Garmin Ltd		6,824
	67,538	*,e	Geox S.p.A.		219
	22,081	e	Gerry Weber International AG.		309
	314,379		Giant Manufacturing Co Ltd		1,817
	195,056	*	G-III Apparel Group Ltd		9,536
	246,795		Gildan Activewear, Inc		7,525
	4,880,000	*	Global Brands Group Holding Ltd		591
	4,100		Goldwin, Inc		166
	665,000	*	Goodbaby International Holding		359
	477,313	*	GoPro, Inc		5,709
	53,811	*,e	Green Brick Partners, Inc		408
	7,700		Guararapes Confeccoes S.A.		122
	69,656	e	GUD Holdings Ltd		371
	517,000	e	Gunze Ltd		1,462
	1,524,983		Haier Electronics Group Co Ltd		2,659
	2,994,000	*,e	Haier Healthwise Holdings Ltd		145

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,198		Handsome Co Ltd	$	428
	1,699,344		Hanesbrands, Inc		48,159
	16,318		Hansae Co Ltd		809
	33,781		Hansae Yes24 Holdings Co Ltd		705
	17,205		Hanssem Co Ltd		3,361
	466,622		Harman International Industries, Inc		41,548
	211,874		Hasbro, Inc		16,971
	562,900		Haseko Corp		5,241
	737,348		Hefei Meiling Co Ltd		420
	148,600		Heiwa Corp		3,080
	107,425	*	Helen of Troy Ltd		11,139
	24,621	e	Hermes International		8,657
	36,058		Himatsingka Seide Ltd		106
	425,000	*	Hisense Kelon Electrical Holdings Co Ltd		179
	5,577		Hitachi Home & Life Solutions India Ltd		102
	27,164	*	HLB, Inc		423
	23,925		Hooker Furniture Corp		786
	474,000	e	Hosa International Ltd		136
	303,789	*,e	Hovnanian Enterprises, Inc (Class A)		474
	56,599		Hugo Boss AG.		3,700
	152,000		Hume Industries BHD		127
	367,514		Husqvarna AB (B Shares)		2,684
	40,382		Huvis Corp		314
	10,196		Hyundai Livart Furniture Co Ltd		309
	17,360		IC Companys AS		562
	114,657	*,e	Iconix Brand Group, Inc		923
	423,853		Iida Group Holdings Co Ltd		8,255
	1,117		Ilshin Spinning Co Ltd		141
	9,222		Indo Count Industries Ltd		135
	47,160	*	Installed Building Products Inc		1,255
	71,929	*,e	iRobot Corp		2,539
	46,756	*,e	Jakks Pacific, Inc		348
	154,000		Japan Wool Textile Co Ltd		1,041
	667,746	*,e	Jarden Corp		39,364
	101,965	*,e	Jimmy Choo plc		188
	178,499	*	Jinshan Development & Construction Co Ltd		165
	174,058		JM AB		4,504
	225,135		Johnson Health Tech Co Ltd		370
	13,181		Johnson Outdoors, Inc		293
	114,700		JVC KENWOOD Holdings, Inc		297
	821,442	*	Kate Spade & Co		20,963
	224,178	e	KB Home		3,201
	1,058,000	*	Kinpo Electronics		348
	10,800		Kitex Garments Ltd		71
	34,244		KMC Kuei Meng International In		133
	665,600	m	Konka Group Co Ltd		261
	453,000		Kurabo Industries Ltd		784
	808		Kyungbang Ltd		139
	12,693		LA Opala RG Ltd		114
	735,704		Lao Feng Xiang Co Ltd		2,850
	400,493		La-Z-Boy, Inc		10,709
	627,776		Lealea Enterprise Co Ltd		185

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	324,026		Leggett & Platt, Inc	$	15,683
	17,156		Lennar Corp (B Shares)		664
	298,944	e	Lennar Corp (Class A)		14,457
	107,971		LG Electronics, Inc		5,821
	15,779		LG Fashion Corp		357
	33,362	*,e	LGI Homes, Inc		808
	40,000		Li Cheng Enterprise Co Ltd		215
	1,314,020	*,e	Li Ning Co Ltd		609
	555,965	*	Li Peng Enterprise Co Ltd		143
	96,360		Libbey, Inc		1,792
	45,790	e	Lifetime Brands, Inc		690
	1,333		LPP S.A.		1,962
	457,700	*,e	Lululemon Athletica, Inc		30,991
	753,450		Luthai Textile Co Ltd		1,000
	278,691		Luxottica Group S.p.A.		15,352
	313,200		LVMH Moet Hennessy Louis Vuitton S.A.		53,518
	58,057	*	M/I Homes, Inc		1,083
	152,271		Makalot Industrial Co Ltd		916
	59,418	*	Malibu Boats Inc		974
	1,985,200		Man Wah Holdings Ltd		2,516
	6,442	*,m	Mariella Burani S.p.A.		0
	34,255	e	Marine Products Corp		260
	5,700		Mars Engineering Corp		99
	1,608,683		Matsushita Electric Industrial Co Ltd		14,569
	5,954,362	e	Mattel, Inc		200,186
	321,600		MC Group PCL		119
	111,854	*	MCBC Holdings, Inc		1,575
	95,119	e	MDC Holdings, Inc		2,384
	244,537		Merida Industry Co Ltd		1,082
	156,888	*	Meritage Homes Corp		5,720
	872,413	*	Michael Kors Holdings Ltd		49,693
	38,100	e	Misawa Homes Co Ltd		252
	68,000		Mitsui Home Co Ltd		318
	81,000	e	Mizuno Corp		373
	351,601	*	Mohawk Industries, Inc		67,121
	1,033,403		Moncler S.p.A		17,433
	39,188		Movado Group, Inc		1,079
	1,327,065		MRV Engenharia e Participacoes S.A.		4,370
	9,629		Nacco Industries, Inc (Class A)		553
	467,335		Namco Bandai Holdings, Inc		10,187
	35,000		Nan Liu Enterprise Co Ltd		154
	167,627	*	Nautilus, Inc		3,239
	25,083	*,e	New Home Co Inc		308
	38,609	e	New Wave Group AB (B Shares)		166
	1,505,901	e	Newell Rubbermaid, Inc		66,696
	479,129		Nien Hsing Textile Co Ltd		365
	4,818,135		Nike, Inc (Class B)		296,171
	143,224	e	Nikon Corp		2,190
	283,911		Nobia AB		2,967
	41,765	*	NVR, Inc		72,354
	954,531	e	Onward Kashiyama Co Ltd		6,513
	279,153		Oriental Weavers		228

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,245,847	*,g	OVS S.p.A	$	7,301
	68,469		Oxford Industries, Inc		4,603
	648,000	*,e,g	Ozner Water International Holding Ltd		102
	1,909,778	e	Pacific Textile Holdings Ltd		2,762
	9,219		Page Industries Ltd		1,685
	260,000	e	PanaHome Corp		1,950
	151,070		Pandora AS		19,751
	3,346	*	PDG Realty S.A.		4
	402,000	*,m	Peace Mark Holdings Ltd		0
	2,603,000		Peak Sport Products Co Ltd		639
	25,011		Pegas Nonwovens S.A.		783
	302,765	*,e	Performance Sports Group Ltd		963
	39,887	*	Performance Sports Group Ltd (Canada)		127
	66,235	*	Perry Ellis International, Inc		1,219
	366,097		Persimmon plc		10,939
	340,379		Phillips-Van Heusen Corp		33,718
	28,258		PIK Group (GDR)		105
	14,617,702	*,e	Pioneer Corp		38,751
	8,104,857		Playmates Holdings Ltd		9,535
	2,380,000		Playmates Toys Ltd		496
	69,863	e	Polaris Industries, Inc		6,880
	167,771		Pool Corp		14,720
	6,493,935		Pou Chen Corp		8,271
	7,600	e	Pressance Corp		291
	920,000	*,e	Prime Success International Group Ltd		122
	8,236,400		PT Sri Rejeki Isman Tbk		201
	2,601,556		Pulte Homes, Inc		48,675
	183,009		Rajesh Exports Ltd		1,717
	238,834	e	Ralph Lauren Corp		22,990
	70,785		Raymond Ltd		434
	811,464		Redrow plc		4,680
	28,797		Rinnai Corp		2,544
	1,588,562		Ruentex Industries Ltd		2,617
	27,328	*,e	Safilo Group S.p.A.		243
	48,744	e	Salvatore Ferragamo Italia S.p.A		1,243
	51,114		Samick Musical Instruments Co Ltd		131
	906,000		Sampo Corp		379
	816,000		Samson Holding Ltd		98
	86,700		Sangetsu Co Ltd		1,569
	63,721		Sankyo Co Ltd		2,373
	88,000		Sanyo Shokai Ltd		200
	19,392		SEB S.A.		2,010
	306,894		Sega Sammy Holdings, Inc		3,344
	211,000		Seiko Holdings Corp		835
	1,062,930		Seiren Co Ltd		11,928
	798,395		Sekisui Chemical Co Ltd		9,829
	2,246,177		Sekisui House Ltd		37,897
	85,014	*	Sequential Brands Group, Inc		543
	860,341	*,m	Servicios Corporativos Javer SAPI de C.V.		939
	394,500		Shanghai Haixin Group Co		312
	1,309,000	*,e	Sharp Corp		1,492
	223,400	*	Shenzhen China Bicycle Co Holdings Ltd		172

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	666,493		Shenzhou International Group Holdings Ltd	$	3,631
	88,845		Shimano, Inc		13,933
	349,000	e	Sitoy Group Holdings Ltd		110
	443,167	*	Skechers U.S.A., Inc (Class A)		13,494
	58,269	*	Skullcandy, Inc		207
	6,421,229		Skyworth Digital Holdings Ltd		3,981
	223,329	*	Smith & Wesson Holding Corp		5,945
	6,671,713		Sony Corp		171,537
	214,746		Sony Corp (ADR)		5,523
	829,803	*,g	Spin Master Corp		14,657
	12,060		SRF Ltd		238
	9,000	e	SRI Sports Ltd		80
	27,200		Starts Corp, Inc		604
	5,629,987		Steinhoff International Holdings NV		36,890
	925,997	e	Steinhoff International Holdings NV (GR)		6,035
	138,188	*	Steven Madden Ltd		5,118
	85,146	e	Sturm Ruger & Co, Inc		5,822
	239,354		Sumitomo Forestry Co Ltd		2,748
	11,132	e	Superior Uniform Group, Inc		198
	26,095	e	Swatch Group AG.		9,003
	185,706		Swatch Group AG. (Registered)		12,496
	6,656		Symphony Ltd		239
	879,602		Tainan Spinning Co Ltd		370
	604,600		Taiwan Paiho Ltd		1,810
	13,500		Tamron Co Ltd		221
	1,951,298	*	Tatung Co Ltd		326
	78,441	*	Taylor Morrison Home Corp		1,108
	5,859,518		Taylor Wimpey plc		15,969
	1,720,000	e	TCL Multimedia Technology Holdings Ltd		1,053
	1,825,500		Techtronic Industries Co		7,232
	32,414		Ted Baker plc		1,268
	223,016		Telford Homes plc		1,085
	462,063	*,e	Tempur-Pedic International, Inc		28,089
	955,500		Texhong Textile Group Ltd		969
	1,638,000		Texwinca Holdings Ltd		1,600
	467,261		Thomson		2,915
	60,260	g	Thule Group AB		829
	1,444,000		Time Watch Investments Ltd		182
	10,622	e	Tod’s S.p.A.		756
	16,190		Token Corp		1,322
	227,587	*	Toll Brothers, Inc		6,716
	447,021	*	TomTom NV		4,355
	54,868	e	Tomy Co Ltd		400
	39,831	*	TopBuild Corp		1,185
	58,000		Topkey Corp		202
	79,000		Toung Loong Textile Manufacturing		220
	386,077	*	TRI Pointe Homes, Inc		4,548
	32,731		Trigano S.A.		2,148
	15,268,000	e	Trinity Ltd		1,595
	325,500		TSI Holdings Co Ltd		2,167
	173,003		Tsutsumi Jewelry Co Ltd		3,665
	2,720		TTK Prestige Ltd		177

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	137,478	*	Tumi Holdings, Inc	$	3,687
	232,867	e	Tupperware Corp		13,502
	376,161	*,e	Under Armour, Inc (Class A)		31,910
	36,747	*	Unifi, Inc		842
	6,192,000	*,e	Unitika Ltd		2,968
	44,128	*	Universal Electronics, Inc		2,735
	203,100	e	Universal Entertainment Corp		3,371
	591,479	*,e,m	Urbi Desarrollos Urbanos S.A. de C.V		0	^
	9,981		Vaibhav Global Ltd		48
	35,286		Vardhman Textiles Ltd		412
	49,853	*,e	Vera Bradley, Inc		1,014
	76,167	*	Vestel Elektronik Sanayi		159
	980,571		VF Corp		63,502
	67,197		Videocon Industries Ltd		108
	102,413	*,e	Vince Holding Corp		648
	143,594	*	Vista Outdoor, Inc		7,454
	174,627		Wacoal Holdings Corp		2,084
	36,989	*	WCI Communities, Inc		687
	440,500		Weiqiao Textile Co		318
	3,738,000		Welling Holding Ltd		603
	553,380		Welspun India Ltd		827
	18,640	e	Weyco Group, Inc		496
	208,290		Whirlpool Corp		37,563
	47,784	*	Whirlpool of India Ltd		507
	48,629	*,e	William Lyon Homes, Inc		705
	1,196,000	*	Winshine Entertainment & Media Holding Co Ltd		45
	421,901		Wolverine World Wide, Inc		7,771
	187,703		Woongjin Coway Co Ltd		15,810
	194,631		Wuxi Little Swan Co Ltd		517
	3,231,500	e	XTEP International Holdings		1,743
	207,950		Yamaha Corp		6,255
	15,300	e	Yondoshi Holdings, Inc		378
	9,000	e	Yonex Co Ltd		356
	20,040		Youngone Corp		843
	10,754		Youngone Holdings Co Ltd		678
	653,907		Yue Yuen Industrial Holdings		2,248
	1,058,000	e	Yuxing InfoTech Investment Holdings Ltd		361
	66,299	*,e	Zagg, Inc		597
	170,764		Zeng Hsing Industrial Co Ltd		789
	79,600		Zhonglu Co Ltd		237
	24,900	e	Zojirushi Corp		397
			TOTAL CONSUMER DURABLES & APPAREL		2,816,504
CONSUMER SERVICES - 2.1%
	59,588	*,e	2U, Inc		1,347
	11,800	*,e	500.com Ltd (ADR)		197
	377,519		888 Holdings plc		1,151
	2,378,537		Accor S.A.		100,616
	47,800	e	Accordia Golf Co Ltd		449
	14,801,700		Accordia Golf Trust		6,589
	663,864		Advtech Ltd		618
	127,911		Ainsworth Game Technology Ltd		229

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,945,000		Ajisen China Holdings Ltd	$	3,323
	853,502		Alsea SAB de C.V.		3,203
	96,934	*,e	Amaya, Inc		1,299
	344,000		Ambassador Hotel		284
	38,161	*	American Public Education, Inc		787
	227,158	*	Apollo Group, Inc (Class A)		1,866
	2,262,898		ARAMARK Holdings Corp		74,947
	405,535		Ardent Leisure Group		710
	515,551		Aristocrat Leisure Ltd		4,067
	75,064	*	Ascent Media Corp (Series A)		1,112
	68,400	e	Atom Corp		401
	122,443	*	Autogrill S.p.A.		1,018
	2,075,316	*	Belmond Ltd.		19,695
	54,625	e	Benesse Holdings Inc		1,573
	486,091		Berjaya Sports Toto BHD		394
	99,011		Betsson AB		1,534
	50,658	*	BJ’s Restaurants, Inc		2,106
	615,807		Bloomin’ Brands, Inc		10,389
	50,202		Bob Evans Farms, Inc		2,344
	21,693	*,e	Bojangles’, Inc		369
	359,639	*	Boyd Gaming Corp		7,430
	78,216	*	Bravo Brio Restaurant Group, Inc		606
	139,326	*	Bridgepoint Education, Inc		1,404
	89,368	*	Bright Horizons Family Solutions		5,789
	472,118		Brinker International, Inc		21,694
	68,130	*	Buffalo Wild Wings, Inc		10,091
	134,624	*,e	Caesars Acquisition Co		824
	136,169	*,e	Caesars Entertainment Corp		926
	590,000	e	Cafe de Coral Holdings Ltd		1,715
	33,499	*	Cambium Learning Group, Inc		143
	71,765	e	Capella Education Co		3,778
	88,170		Cara Operations Ltd		1,979
	394,675	*	Career Education Corp		1,792
	1,705,733		Carnival Corp		90,012
	593,116		Carnival plc		31,859
	34,480	e	Carriage Services, Inc		745
	190,176	*	Carrols Restaurant Group, Inc		2,746
	116,667		Cheesecake Factory		6,194
	189,520	*,e	Chegg, Inc		845
	51,629		China Lodging Group Ltd (ADR)		1,973
	6,960,000		China LotSynergy Holdings Ltd		283
	3,714,000	e	China Maple Leaf Educational Systems Ltd		2,355
	88,000	*	China Nuclear Energy Technology Corp Ltd		16
	2,336,000		China Travel International Inv HK		784
	1,405,000	*,e	China Vanguard Group Ltd		109
	150,365	*	Chipotle Mexican Grill, Inc (Class A)		70,817
	62,492		Choice Hotels International, Inc		3,378
	30,116		Churchill Downs, Inc		4,454
	39,181	*,e	Chuy’s Holdings, Inc		1,217
	18,689		Cie des Alpes		315
	63,686		City Lodge Hotels Ltd		634
	105,085		ClubCorp Holdings, Inc		1,475

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,110		Collectors Universe	$	301
	47,200	e	Colowide Co Ltd		714
	784,606		Compass Group plc		13,831
	274,157	e	Corporate Travel Management Lt		2,817
	123,577		Cox & Kings India Ltd		337
	45,791	e	Cracker Barrel Old Country Store, Inc		6,991
	38,400		Create Restaurants Holdings, Inc		359
	2,474		Credu Corp		100
	410,418		Crown Resorts Ltd		3,916
	176,300		CVC Brasil Operadora e Agencia de Viagens S.A.		821
	105,669		Daekyo Co Ltd		984
	120,000		Dahan Development Corp		216
	5,700	e	Daisyo Corp		76
	242,310		Darden Restaurants, Inc		16,065
	74,931	*	Dave & Buster’s Entertainment, Inc		2,906
	55,887	*	Del Frisco’s Restaurant Group, Inc		927
	31,809		Delta Corp Ltd		32
	372,759	*	Denny’s Corp		3,862
	154,988	e	DeVry Education Group, Inc		2,677
	100,236	*,e	Diamond Resorts International, Inc		2,436
	48,562		Dignity plc		1,726
	41,362	e	DineEquity, Inc		3,864
	7,518		DO & CO AG.		907
	12,147		DO & CO AG. (Istanbul)		1,457
	118,646		Domino’s Pizza Enterprises Ltd		5,222
	446,648		Domino’s Pizza UK & IRL plc		6,463
	48,576		Domino’s Pizza, Inc		6,405
	400,014	*,e	Donaco International Ltd		167
	63,000		Doutor Nichires Holdings Co Ltd		1,017
	5,351,814	*	Dubai Parks & Resorts PJSC		1,894
	64,770	e	Dunkin Brands Group, Inc		3,055
	1,734,800	e	Dynam Japan Holdings Co Ltd		2,500
	144,885		EIH Ltd		228
	68,440	*,e	El Pollo Loco Holdings, Inc		913
	68,824	*	Eldorado Resorts, Inc		787
	6,018	*	Emerson Pacific, Inc		174
	905,000		Emperor Entertainment Hotel Ltd		181
	8,457	*,e	Empire Resorts, Inc		115
	223,994	e	EnerCare, Inc		2,630
	417,113	*	Enterprise Inns plc		572
	1,281,100		Erawan Group PCL		161
	625,349		Estacio Participacoes S.A.		2,056
	52,307	*,g	Evolution Gaming Group AB		1,825
	2,480,593		Extended Stay America, Inc		40,434
	146,394	e	Famous Brands Ltd		1,159
	87,654	*	Fiesta Restaurant Group, Inc		2,873
	84,481		First Hotel		49
	145,034	e	Flight Centre Travel Group Ltd		4,804
	260,143	*,e	Fogo De Chao, Inc		4,061
	37,990		Formosa International Hotels Corp		229
	780,000	e	Fu Shou Yuan International Group Ltd		559
	45,000	e	Fuji Kyuko Co Ltd		618

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	58,000	e	Fujita Kanko, Inc	$	300
	272,020	e	G8 Education Ltd		785
	31,800		GAEC Educacao S.A.		88
	2,037,155		Galaxy Entertainment Group Ltd		7,648
	3,391,208		Genting BHD		8,520
	5,088,693		Genting Singapore plc		3,150
	953,200	e	GL Ltd		618
	936,742		Gold Reef Resorts Ltd		1,497
	58,000		Gourmet Master Co Ltd		463
	1,839		Graham Holdings Co		883
	112,862	*	Grand Canyon Education, Inc		4,824
	28,548		Grand Korea Leisure Co Ltd		570
	40,615	*	Great Canadian Gaming Corp		582
	264,207		Greene King plc		3,303
	735,418		GVC Holdings plc		5,334
	608,605	e	H&R Block, Inc		16,079
	27,872	*,e	Habit Restaurants, Inc		519
	1,152,000	*,g	Haichang Holdings Ltd		246
	8,108		Hana Tour Service, Inc		601
	11,500		Hiday Hidaka Corp		289
	1,599,375		Hilton Worldwide Holdings, Inc		36,018
	23,500	e	Hiramatsu Inc		155
	35,100		HIS Co Ltd		979
	13,300	*,e	Homeinns Hotel Group (ADR)		474
	247,200	*,e	Hoteles City Express SAB de C.V.		301
	381,082	*	Houghton Mifflin Harcourt Co		7,599
	146,850		Huangshan Tourism Development Co Ltd		296
	178,360	*,e	Hyatt Hotels Corp		8,827
	5,400	e	Ichibanya Co Ltd		345
	486,891	*	Indian Hotels Co Ltd		727
	94,675		InterContinental Hotels Group plc		3,896
	356,301	e	International Game Technology plc		6,502
	65,915		International Speedway Corp (Class A)		2,433
	75,754	e	Intertain Group Ltd		605
	260,382	e	Interval Leisure Group, Inc		3,760
	121,213	*	Intralot S.A.-Integrated Lottery Systems & Services		155
	164,778	*,e	Intrawest Resorts Holdings Inc		1,409
	92,284	e	Invocare Ltd		888
	219,312	*	Isle of Capri Casinos, Inc		3,070
	33,839	*	J Alexander’s Holdings, Inc		357
	142,244		Jack in the Box, Inc		9,085
	27,765	*,e	Jamba, Inc		343
	530,172		Jollibee Foods Corp		2,613
	25,694		Jubilant Foodworks Ltd		495
	300,442	*	K12, Inc		2,971
	264,270		Kangwon Land, Inc		9,447
	62,600	e	Kappa Create Co Ltd		684
	15,400	e	Kisoji Co Ltd		296
	365,000	*	KNT-CT Holdings Co Ltd		586
	21,059	*,e	Kona Grill, Inc		273
	7,400		Koshidaka Holdings Co Ltd		141
	316,537	*	Krispy Kreme Doughnuts, Inc		4,935

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,181,824		Kroton Educacional S.A.	$	13,352
	2,969		Kuoni Reisen Holding		1,114
	8,400		Kura Corp		405
	9,200	e	Kyoritsu Maintenance Co Ltd		792
	369,758	*,e	La Quinta Holdings, Inc		4,622
	868,302		Ladbrokes plc		1,452
	449,449		Las Vegas Sands Corp		23,228
	9,234	e	Liberty Tax, Inc		181
	231,291	*,e	LifeLock, Inc		2,792
	130,000		Lion Travel Service Co Ltd		440
	1,706,000	*,e	Macau Legend Development Ltd		238
	545,500		Magnum BHD		345
	21,724		Mahindra Holidays & Resorts India Ltd		127
	537,670		Mantra Group Ltd		1,867
	76,069		Marcus Corp		1,442
	133,636	e	Marriott International, Inc (Class A)		9,512
	85,812		Marriott Vacations Worldwide Corp		5,792
	488,425		Marston’s plc		1,065
	6,900		Matsuya Foods Co Ltd		170
	1,471,600		Max’s Group, Inc		725
	2,085,972		McDonald’s Corp		262,165
	17,353	e	McDonald’s Holdings Co Japan Ltd		411
	17,300	e	Meiko Network Japan Co Ltd		189
	330,359	e	Melco Crown Entertainment Ltd (ADR)		5,454
	76,489,600		Melco Crown Philippines Resorts Corp		4,202
	644,000	e	Melco International Development		896
	75,736		Melia Hotels International S.A.		889
	1,234,194	g	Merlin Entertainments plc		8,206
	1,645,700		MGM China Holdings Ltd		2,521
	4,248,283	*	MGM Resorts International		91,083
	4,472,240		Minor International PCL (Foreign)		4,681
	171,659		Mitchells & Butlers plc		685
	9,914		Modetour Network, Inc		261
	22,809	*	Monarch Casino & Resort, Inc		444
	19,900	e	MOS Food Services, Inc		520
	31,668		MPK Group, Inc		85
	30,018	e	MTY Food Group, Inc		798
	769,879	e	Navitas Ltd		2,994
	180,369	*	NET Holding AS		197
	119,900		New Oriental Education & Technology Group (ADR)		4,147
	159,760	*,e	NH Hoteles S.A.		733
	27,899	*,e	Noodles & Co		331
	24,525	*,e	Nord Anglia Education, Inc		512
	2,515,308	*	Norwegian Cruise Line Holdings Ltd		139,071
	8,100		Ohsho Food Service Corp		249
	558,064		OPAP S.A.		3,907
	10,431	*	Orascom Development Holding AG.		94
	471,400	e	Oriental Land Co Ltd		33,375
	373,900	e	Overseas Union Enterprise Ltd		467
	87,535		Paddy Power plc		12,209
	54,810	*,e	Pandox AB		953
	32,785	*	Panera Bread Co (Class A)		6,715

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	130,501	e	Papa John’s International, Inc	$	7,072
	471,212	*,e	Papa Murphy’s Holdings, Inc		5,631
	53,713		Paradise Co Ltd		681
	287,014	*	Penn National Gaming, Inc		4,790
	4,337	*	Pierre & Vacances		157
	165,274	*	Pinnacle Entertainment, Inc		5,801
	53,059	*,e	Planet Fitness, Inc		862
	59,900	e	Plenus Co Ltd		1,080
	111,169	*,e	Popeyes Louisiana Kitchen, Inc		5,787
	44,516	*,e	Potbelly Corp		606
	373,100		Prestariang BHD		282
	35,176	*	Red Robin Gourmet Burgers, Inc		2,268
	165,168	*	Regis Corp		2,509
	3,616,634		Resorts World BHD		4,208
	155,600	e	Resorttrust, Inc		3,490
	2,046		Restaurant Brands International LP		79
	1,527,602	e	Restaurant Brands International, Inc		59,317
	264,312		Restaurant Brands International, Inc (Toronto)		10,265
	170,315		Restaurant Group plc		959
	98,242	e	Retail Food Group Ltd		388
	8,535,535	e,m	REXLot Holdings Ltd		484
	85,938		Rezidor Hotel Group AB		407
	14,400	e	Ringer Hut Co Ltd		314
	85,400	e	Round One Corp		481
	148,048		Royal Caribbean Cruises Ltd		12,162
	23,000	e	Royal Holdings Co Ltd		464
	151,839	*	Ruby Tuesday, Inc		817
	191,958		Ruth’s Chris Steak House, Inc		3,534
	25,300		Saizeriya Co Ltd		520
	8,405,164	e	Sands China Ltd		34,313
	123,711	*,e	Scientific Games Corp (Class A)		1,167
	163,714	e	SeaWorld Entertainment, Inc		3,448
	10,718		Seoul Auction Co Ltd		203
	246,400	g	Ser Educacional S.A.		724
	463,400		Service Corp International		11,437
	649,759	*	ServiceMaster Global Holdings, Inc		24,483
	14,290	*,e	Shake Shack, Inc		533
	1,184,000	e	Shanghai Jinjiang International Hotels Group Co Ltd		483
	61,449		Shanghai Jinjiang International Travel Co Ltd		270
	1,038,120		Shangri-La Asia Ltd		1,186
	1,502		Shinsegae Food Co Ltd		171
	212,196		Six Flags Entertainment Corp		11,775
	4,552,613	e	SJM Holdings Ltd		3,257
	40,580		SkiStar AB (Series B)		582
	2,361,615		Sky City Entertainment Group Ltd		8,171
	91,100	e	Skylark Co Ltd		1,202
	127,194		Slater & Gordon Ltd		25
	26,202		Sodexho Alliance S.A.		2,820
	620,796		Sonic Corp		21,827
	193,292	e	Sotheby’s (Class A)		5,167
	71,799		Speedway Motorsports, Inc		1,424
	136,854		Spur Corp Ltd		261

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	570,436		SSP Group plc	$	2,373
	12,800		St Marc Holdings Co Ltd		353
	3,139,382		Star Entertainment Grp Ltd		13,654
	5,986,923		Starbucks Corp		357,419
	223,079		Starwood Hotels & Resorts Worldwide, Inc		18,611
	3,878	*	Steak N Shake Co		1,441
	36,714	*,e	Strayer Education, Inc		1,790
	87,831	e	Sun International Ltd		408
	2,128,100		Ta Enterprise BHD		319
	1,489,500		TA Global BHD		103
	1,458,391		Tabcorp Holdings Ltd		4,782
	14,500	*,e	TAL Education Group (ADR)		720
	19,900	*	Tarena International, Inc (ADR)		215
	1,275,661		Tattersall’s Ltd		3,696
	169,415	e	Texas Roadhouse, Inc (Class A)		7,383
	1,248,000	*	Thomas Cook Group plc		1,662
	81,408		Thomas Cook India Ltd		231
	155,000		Tokyo Dome Corp		702
	126,000	e	Tokyotokeiba Co Ltd		253
	18,700		Toridoll.corp		377
	6,600		Tosho Co Ltd		262
	508,000	e	Tsui Wah Holdings Ltd		97
	17,800	e	Tsukada Global Holdings Inc		115
	595,592		TUI AG. (DI)		9,213
	797,547		Unibet Group plc (ADR)		9,041
	59,214	e	Universal Technical Institute, Inc		255
	124,235		Vail Resorts, Inc		16,610
	126,700	e	Watami Co Ltd		1,125
	50,120	*,e	Weight Watchers International, Inc		728
	166,093	e	Wendy’s		1,809
	79,098	e	Wetherspoon (J.D.) plc		799
	81,573		Whistler Blackcomb Holdings, Inc		1,681
	94,667		Whitbread plc		5,374
	315,463		William Hill plc		1,476
	15,822	*,e	Wingstop, Inc		359
	54,220		Wowprime Corp		235
	425,526		Wyndham Worldwide Corp		32,523
	3,794,771	*,e	Wynn Macau Ltd		5,868
	107,640	e	Wynn Resorts Ltd		10,057
	309,500	g	Xiabuxiabu Catering Management China Holdings Co Ltd		208
	11,200		Xueda Education Group (ADR)		60
	325,000		YBM Sisa.com, Inc		1,256
	24,000		Yomiuri Land Co Ltd		123
	51,600	e	Yoshinoya D&C Co Ltd		631
	442,723		Yum! Brands, Inc		36,237
	16,280		Zeal Network SE		767
	177,700	e	Zensho Co Ltd		2,127
	568,000		Zhuhai Holdings Investment Group Ltd		88
	745,971	*,e	Zoe’s Kitchen, Inc		29,085
			TOTAL CONSUMER SERVICES		2,361,586

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
DIVERSIFIED FINANCIALS - 3.4%
	2,128,700		3i Group plc	$	13,919
	92,224		ABC Arbitrage		580
	1,422,905		Aberdeen Asset Management plc		5,648
	56,335		Ackermans & Van Haaren		7,982
	228,350	*,e	Acom Co Ltd		1,150
	110,300		Aeon Credit Service M BHD		361
	316,548		AEON Financial Service Co Ltd		7,452
	103,514	*	Affiliated Managers Group, Inc		16,811
	70,000		AFP Habitat S.A.		90
	1,389,533	*,e,m	African Bank Investments Ltd		1
	58,634	e	AGF Management Ltd		232
	273,000	*,e	Aiful Corp		964
	1,904,340		AIRA Capital Co Ltd		125
	22,592	e	Aker ASA (A Shares)		421
	2,178,237		Al Waha Capital PJSC		1,258
	34,110	e	Alaris Royalty Corp		735
	685,512		Alexander Forbes Group Holdings Ltd		311
	233,743	*,e	Allied Minds plc		1,594
	831,641	*	Ally Financial, Inc		15,568
	1,167,289	*	Amanat Holdings PJSC		272
	2,017,171		American Express Co		123,854
	1,408,658		Ameriprise Financial, Inc		132,428
	409,348	*,e,g	Amundi S.A.		19,455
	1,760,154	g	Anima Holding S.p.A		12,836
	773,386		ARA Asset Management Ltd		672
	56,060	e	Arlington Asset Investment Corp (Class A)		702
	181,524		Arrow Global Group plc		652
	73,410		Artisan Partners Asset Management, Inc		2,264
	2,725	*,e	Ashford, Inc		124
	495,847	e	Ashmore Group plc		2,044
	12,981	*,m	Asia Pacific Investment Partners Limited		75
	1,047,600		Asia Plus Group Holdings PCL		101
	16,518	*	Associated Capital Group, Inc		463
	88,151		Aurelius AG.		5,349
	311,415		Australian Stock Exchange Ltd		9,879
	19,212		Avanza AB		855
	329,186		Ayala Corp		5,363
	2,215	*,m	Ayala Corp Preferred		0	^
	98,445		Azimut Holding S.p.A.		2,264
	49,041		Banca Generali S.p.A		1,440
	119,531		Banca IFIS S.p.A.		3,956
	187,812		Banca Mediolanum S.p.A		1,498
	3,709,779		Bank of New York Mellon Corp		136,631
	8,917	*,e	BBX Capital Corp		142
	465,853		BGC Partners, Inc (Class A)		4,216
	192,753		BinckBank NV		1,435
	199,463		BlackRock, Inc		67,931
	290,400		Blackstone Group LP		8,146
	3,624,786		BM&F Bovespa S.A.		15,505
	1,141,400		Bolsa Mexicana de Valores S.A. de C.V.		1,954
	69,644	e	Bolsas y Mercados Espanoles		2,243
	1,393,100	*,e	Brait S.A.		15,746

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	365,710		Brewin Dolphin Holdings plc	$	1,363
	3,282,000		Bright Smart Securities & Commodities Group Ltd		933
	163,354		BT Investment Management Ltd		1,213
	179,219		Bure Equity AB		1,534
	1,324,800		Bursa Malaysia BHD		3,020
	96,817	e	Calamos Asset Management, Inc (Class A)		822
	20,074	e	Callidus Capital Corp		207
	86,908		Canaccord Financial, Inc		268
	23,862		Capital First Ltd		155
	794,427		Capital One Financial Corp		55,062
	1,513,000		Capital Securities Corp		413
	63,145	e	Cash America International, Inc		2,440
	1,758,000	*	Cash Financial Services Group Ltd		81
	218,983		CBOE Holdings, Inc		14,306
	96,033		Cembra Money Bank AG.		6,703
	3,345,000		Central China Securities Co Ltd		1,748
	36,101		Century Leasing System, Inc		1,337
	369,566		Cerved Information Solutions S.p.A		3,037
	242,315		CETIP S.A.-Balcao Organizado de Ativos e Derivativos		2,706
	1,154,537		Chailease Holding Co Ltd		2,011
	1,125,064		Challenger Financial Services Group Ltd		7,220
	1,672,169		Charles Schwab Corp		46,854
	843,000		China Bills Finance Corp		322
	10,906,200		China Cinda Asset Management Co Ltd		3,828
	1,126,137		China Everbright Ltd		2,361
	3,190,000	*,e	China Financial International Investments Ltd		292
	11,823,000		China Galaxy Securities Co Ltd		11,515
	14,700,000	e	China LNG Group Ltd		541
	112,665	e	China Merchants China Direct Investments Ltd		166
	455,186	e	CI Financial Corp		10,059
	813,113	*	Citadel Capital Corp		147
	3,217,903	e	CITIC Securities Co Ltd		7,549
	152,580		Close Brothers Group plc		2,760
	378,368		CME Group, Inc		36,342
	224,268		Coface S.A.		1,849
	49,995		Cohen & Steers, Inc		1,946
	28,591	*	Consumer Portfolio Services, Inc		121
	266,782	e	Coronation Fund Managers Ltd		1,324
	16,641		Corp Financiera Alba		644
	33,572		Corp Financiera Colombiana S.A.		435
	66,656		Corp Financiera Colombiana S.A. (CD)		849
	263,618	*,e	Cowen Group, Inc		1,004
	38,700	*,e	Credit Acceptance Corp		7,026
	27,262		Credit Analysis & Research Ltd		386
	1,789,600	e	Credit China Holdings Ltd		747
	125,864		Credit Saison Co Ltd		2,189
	1,678,417	*	Credit Suisse Group		23,702
	1,124,551		Credito Real SAB de C.V.		2,400
	31,446		CRISIL Ltd		854
	227,112		Daewoo Securities Co Ltd		1,643
	126,408		Daishin Securities Co Ltd		1,326
	21,344		Daishin Securities Co Ltd PF		143

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,608,160		Daiwa Securities Group, Inc	$	28,324
	72,388		DeA Capital S.p.A.		104
	1,341,920		Deutsche Bank AG.		22,782
	25,434	*	Deutsche Beteiligungs AG.		780
	897,658		Deutsche Boerse AG.		76,430
	9,575		Diamond Hill Investment Group, Inc		1,698
	960,000	*,e	Differ Group Holding Co Ltd		98
	647,349		Discover Financial Services		32,963
	2,340,345		Dubai Financial Market		866
	80,291	*,e	Dundee Corp		371
	531,862	*	E*TRADE Financial Corp		13,025
	279,094		Eaton Vance Corp		9,355
	322,049		Eclipx Group Ltd		752
	333,752		Edelweiss Capital Ltd		284
	6,942	e	EFG Financial Products Holding AG.		657
	146,788		EFG International		840
	677,857		Egypt Kuwait Holding Co		317
	465,499	*	Egyptian Financial Group-Hermes Holding		530
	299,106		Element Financial Corp		3,224
	11,112,000		Emperor Capital Group Ltd		933
	64,943	*,e	Encore Capital Group, Inc		1,672
	68,596	*	Enova International, Inc		433
	65,632	*	Eugene Investment & Securities Co Ltd		159
	55,317	*	Eurazeo		3,736
	1,120,851	g	Euronext NV		46,487
	151,764		Evercore Partners, Inc (Class A)		7,854
	71,756		Exor S.p.A.		2,567
	130,218	*	Ezcorp, Inc (Class A)		387
	132,229		Factset Research Systems, Inc		20,037
	128,299	*,g	Fairfax India Holdings Corp		1,392
	4,549,395		Far East Horizon Ltd		3,505
	1,194,000	*	FDG Kinetic Ltd		163
	279,145		Federated Investors, Inc (Class B)		8,053
	6,996	e	Ferratum Oyj		192
	69,496	e	Fiera Capital Corp		722
	128,518	e	Financial Engines, Inc		4,039
	238,500	e	Financial Products Group Co Ltd		2,870
	122,656		First Cash Financial Services, Inc		5,650
	3,062,785		First Pacific Co		2,287
	6,233,767	e	FirstRand Ltd		20,357
	1,249,760	e	FlexiGroup Ltd		2,371
	298,201	g	Flow Traders		13,823
	201,402	*	FNFV Group		2,185
	726,624		Franklin Resources, Inc		28,375
	13,040,000	*	Freeman Financial Corp Ltd		697
	18,751,380		Fubon Financial Holding Co Ltd		23,884
	31,530,453		Fuhwa Financial Holdings Co Ltd		11,258
	13,900		Fuyo General Lease Co Ltd		593
	72,458		Gain Capital Holdings, Inc		475
	15,734		GAMCO Investors, Inc (Class A)		583
	2,450,463	e	Gentera SAB de C.V.		4,817
	1,486,200	*,e	GF Securities Co Ltd		3,622

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	23,366		Gimv NV	$	1,289
	63,215		Gluskin Sheff + Associates, Inc		897
	1,692,971	n	Goldman Sachs Group, Inc		265,763
	920,000	*	Good Resources Holdings Ltd		96
	298,171	*,e	Green Dot Corp		6,849
	72,321		Greenhill & Co, Inc		1,606
	7,604		GRENKELEASING AG.		1,615
	120,183		Groupe Bruxelles Lambert S.A.		9,902
	469,371		Grupo de Inversiones Suramericana S.A.		6,242
	120,425		Grupo de Inversiones Suramericana S.A. (Preference)		1,573
	75,000	e	Grupo Financiero Interacciones S.A. de C.V.		425
	182,070		GT Capital Holdings, Inc		5,492
	796,497	*	Gulf General Investment Co		136
	42,500	*	Guolian Securities Co Ltd		23
	11,270,800	e	Guotai Junan International Hol		3,949
	1,080,665		Haci Omer Sabanci Holding AS		3,739
	4,713,212		Haitong Securities Co Ltd		8,058
	20,683		Hankook Tire Worldwide Co Ltd		415
	48,429		Hanwha Securities Co		151
	251,761		Hargreaves Lansdown plc		4,848
	192,822		Hellenic Exchanges S.A.		1,086
	2,832,940		Henderson Group plc		10,479
	243,437		HFF, Inc (Class A)		6,702
	274,100		Hitachi Capital Corp		5,961
	15,702		HMC Investment Securities Co Ltd		135
	91,390	*,e,g	Hoist Finance AB		816
	762,585	e	Hong Kong Exchanges and Clearing Ltd		18,375
	59,542		Houlihan Lokey, Inc		1,483
	2,187,600	*,g	Huatai Securities Co Ltd		5,198
	152,941		Hyundai Securities Co		919
	79,100	e	IBJ Leasing Co Ltd		1,402
	181,181		ICAP plc		1,232
	668,400	e	Ichigo Holdings Co Ltd		2,757
	31,100	e	Ichiyoshi Securities Co Ltd		265
	1,602,044		IFCI Ltd		598
	455,472		IG Group Holdings plc		5,225
	189,824	e	IGM Financial, Inc		5,718
	228,926		India Infoline Ltd		713
	401,022		Indiabulls Housing Finance Ltd		3,934
	18,736		Indiabulls Securities Ltd		4
	49,689		Industrivarden AB		846
	188,892		Infrastructure Development Finance Co Ltd		115
	14,959,829		ING Groep NV		179,021
	533,901		ING Groep NV (ADR)		6,369
	126,851	e	Interactive Brokers Group, Inc (Class A)		4,988
	179,983	*,m	Interbolsa S.A.		0	^
	368,352		IntercontinentalExchange Group, Inc		86,614
	266,036		Intermediate Capital Group plc		2,361
	737,395		International Personal Finance plc		3,085
	37,177	*	INTL FCStone, Inc		994
	59,091		Inversiones La Construccion S.A.		672
	480,652		Invesco Ltd		14,790

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	257,694		Investec Ltd	$	1,916
	960,579		Investec plc		7,046
	94,582		Investment Technology Group, Inc		2,090
	655,058		Investor AB (B Shares)		23,156
	289,143	e	IOOF Holdings Ltd		1,959
	3,061,500	e	iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker		3,971
	67,474	e	iShares Dow Jones US Real Estate Index Fund		5,254
	390,702	e	iShares MSCI Canada Index Fund		9,264
	2,093,656	e	iShares MSCI EAFE Index Fund		119,611
	1,073,826	e	iShares MSCI Emerging Markets		36,779
	17,400		Iwai Securities Co Ltd		169
	67,800	e	J Trust Co Ltd		547
	129,000	e	Jaccs Co Ltd		535
	100,417	*	Jafco Co Ltd		3,083
	568,060		Janus Capital Group, Inc		8,311
	1,430,900		Japan Securities Finance Co Ltd		5,736
	1,673,658		Jih Sun Financial Holdings Co Ltd		371
	205,581		JM Financial Ltd		118
	219,307	e	JSE Ltd		2,211
	242,054	e	Julius Baer Group Ltd		10,374
	140,357		Julius Baer Holding AG.		2,028
	1,137,910		Jupiter Investment Management Group Ltd		6,675
	214,800		k1 Ventures Ltd		127
	1,341,000	e	kabu.com Securities Co Ltd		4,284
	75,996		KBC Ancora		2,486
	93,868	*	KCG Holdings, Inc		1,122
	98,052		Kinnevik Investment AB (Series B)		2,777
	10,213		KIWOOM Securities Co Ltd		597
	95,026		Korea Investment Holdings Co Ltd		3,655
	14,624		KRUK S.A.		705
	481,600		Krungthai Card PCL		1,189
	16,166		Kyobo Securities Co		139
	15,100	e	Kyokuto Securities Co Ltd		181
	817,509		L&T Finance Holdings Ltd		788
	278,568	*,e	Ladenburg Thalmann Financial Services, Inc		696
	876,744		Lazard Ltd (Class A)		34,018
	288,656		Legg Mason, Inc		10,011
	117,733	*,e	LendingClub Corp		977
	610,148		Leucadia National Corp		9,866
	927,979		London Stock Exchange Group plc		37,486
	185,131	e	LPL Financial Holdings, Inc		4,591
	94,200		Lundbergs AB (B Shares)		5,147
	280,196		Macquarie Group Ltd		14,182
	436,438		Magellan Financial Group Ltd		7,556
	357,097		Mahindra & Mahindra Financial Services Ltd		1,316
	23,658,899		Man Group plc		51,711
	794,934		Manappuram General Finance & Leasing Ltd		420
	137,289		MarketAxess Holdings, Inc		17,138
	39,827		Marlin Business Services Corp		570
	50,900	*,e	Marusan Securities Co Ltd		479
	15,860,000	*	Mason Financial Holdings Ltd		666

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	881,547		Masterlink Securities Corp	$	253
	458,400	e	Matsui Securities Co Ltd		3,901
	715,362		McGraw-Hill Financial, Inc		70,807
	6,675,825		Mediobanca S.p.A.		48,010
	15,573	e	Medley Management, Inc		86
	33,500		Meritz finance Holdings Co Ltd		363
	974,986		Meritz Securities Co Ltd		3,042
	42,830,904		Metro Pacific Investments Corp		5,466
	70,000		MIN XIN Holdings Ltd		63
	69,754		Mirae Asset Securities Co Ltd		1,426
	163,800		Mito Securities Co Ltd		453
	1,060,554		Mitsubishi UFJ Lease & Finance Co Ltd		4,650
	53,955		MLP AG.		175
	130,254		Moelis & Co		3,677
	2,562,300	e	Monex Beans Holdings, Inc		6,618
	450,200		Moody’s Corp		43,471
	3,308,891	n	Morgan Stanley		82,755
	85,536		Morningstar, Inc		7,550
	30,163		Motilal Oswal Financial Services Ltd		124
	211,857		MSCI, Inc (Class A)		15,694
	618,900		Muangthai Leasing PCL		341
	177,595		Muthoot Finance Ltd		479
	320,295		NASDAQ OMX Group, Inc		21,261
	649,316		Navient Corp		7,772
	111,092		Nelnet, Inc (Class A)		4,374
	85,983	*	NewStar Financial, Inc		752
	15,429		NICE Holdings Co Ltd		267
	36,345		NICE Information Service Co Ltd		290
	46,100	e	Nihon M&A Center, Inc		2,676
	12,000	*,e	Noah Holdings Ltd (ADR)		299
	5,131,439		Nomura Holdings, Inc		22,919
	228,091		Nordnet AB (Series B)		973
	145,569		Northern Trust Corp		9,487
	351,280		NorthStar Asset Management Group, Inc		3,987
	3,367,866		NZX Ltd		2,374
	94,028		Oaktree Capital Group LLC		4,638
	136,000	e	Okasan Holdings, Inc		710
	135,391		OM Asset Management plc		1,807
	31,251	*,e	On Deck Capital, Inc		243
	95,105	*,e	OneMain Holdings, Inc		2,609
	84,606		Onex Corp		5,157
	24,743		Oppenheimer Holdings, Inc		390
	42,999		Oresund Investment AB		1,207
	357,500	*	Orient Corp		711
	3,077,770		ORIX Corp		43,837
	524,100		Osaka Securities Exchange Co Ltd		8,018
	611,375		OSK Holdings BHD		263
	222,888	e	OzForex Group Ltd		344
	61,345		P2P Global Investments plc		766
	10,119	e	Pargesa Holding S.A.		645
	11,835		Partners Group		4,755
	540,677		Peregrine Holdings Ltd		998

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	517,000	*,m	Peregrine Investment Holdings	$	0
	103,766	e	Perpetual Trustees Australia Ltd		3,453
	82,264		Philippine Stock Exchange, Inc		509
	61,251	*	Pico Holdings, Inc		627
	238,304	*	Pioneers Holding		275
	45,958	*	Piper Jaffray Cos		2,278
	604,366		Platinum Asset Mangement Ltd		2,938
	168,269	e	Plus500 Ltd		1,487
	618,376		Power Finance Corp Ltd		1,599
	27,324	e	PowerShares QQQ Trust Series		2,984
	120,675	e	PRA Group, Inc		3,547
	5,742,000		Premium Leisure Corp		112
	1,013,509		President Securities Corp		431
	163,029		Provident Financial plc		6,929
	75,600		PSG Group Ltd		1,026
	128,527		PTC India Financial Services Ltd		66
	43,386		Pzena Investment Management, Inc (Class A)		328
	11,203		Qatar Industrial Manufacturing Co		117
	689,527	e	Ratos AB (B Shares)		4,416
	300,005		Raymond James Financial, Inc		14,283
	46,963	*	Regional Management Corp		804
	396,675		Reliance Capital Ltd		2,207
	574,785		Remgro Ltd		9,730
	51,684		Repco Home Finance Ltd		452
	54,197	e	Resource America, Inc (Class A)		313
	31,300		Ricoh Leasing Co Ltd		929
	1,134,110	e	RMB Holdings Ltd		4,696
	758,300	*	Rowsley Ltd		85
	556,220		Rural Electrification Corp Ltd		1,395
	82,487	*,e	Safeguard Scientifics, Inc		1,093
	69,230		Salam International Investment Co		253
	226,186		Samsung Card Co		7,449
	72,079		Samsung Securities Co Ltd		2,519
	680,177		Santander Consumer USA Holdings, Inc		7,135
	297,600	*,e	Sawada Holdings Co Ltd		2,647
	55,544		SBI Holdings, Inc		563
	75,181		Schroders plc		2,890
	426,965		SEI Investments Co		18,381
	5	*,m	SFCG Co Ltd		0
	1,400,000	e	Shenyin Wanguo HK Ltd		685
	9,857		Shinyoung Securities Co Ltd		515
	760,814		Shriram Transport Finance Co Ltd		10,947
	1,786,556		Singapore Exchange Ltd		10,528
	11,065	*	Sixt Leasing AG.		219
	262,511	*	SK Securities Co Ltd		269
	82,191	*	SKS Microfinance Pvt Ltd		678
	1,235,785	*	SLM Corp		7,860
	768,475	*,e,m	SNS Reaal		9
	7,878		Societe Fonciere Financiere et de Participations FFP		592
	81,900	e	Sparx Group Co Ltd		165
	4,500	e	SPDR Trust Series 1		925
	113,535	e	Sprott, Inc		222

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	173,273		SREI Infrastructure Finance Ltd	$	144
	419,962		Srisawad Power 1979 PCL		504
	455,860		State Street Corp		26,677
	165,121	*	Stifel Financial Corp		4,888
	6,052,000	e	Sun Hung Kai & Co Ltd		3,645
	41,550		Sundaram Finance Ltd		815
	162,027	*	SVG Capital plc		1,167
	7,695		Swissquote Group Holding S.A.		191
	14,187,459	*	Synchrony Financial		406,613
	326,566		T Rowe Price Group, Inc		23,990
	6,980,335	e	Tai Fook Securities Group Ltd		4,038
	265,000		Taiwan Acceptance Corp		611
	170,000	*,e	Takagi Securities Co Ltd		211
	66,883		Tamburi Investment Partners S.p.A.		238
	14,411		Tata Investment Corp Ltd		103
	197,412		TD Ameritrade Holding Corp		6,224
	88,511	e	Tiptree Financial, Inc		504
	35,007		TMX Group Ltd		1,264
	293,880	e	Tokai Tokyo Securities Co Ltd		1,609
	96,220	*	Tong Yang Investment Bank		301
	50,000		Toyo Securities Co Ltd		125
	257,928		Transaction Capital Ltd		207
	93,188	e	Tricon Capital Group, Inc		648
	406,833		Tullett Prebon plc		2,056
	5,257,411		UBS AG.		84,571
	1,801,054	e	Unifin Financiera SAPI de C.V. SOFOM ENR		5,040
	1,034,873		UOB-Kay Hian Holdings Ltd		1,075
	187,455	*	Uranium Participation Corp		658
	3,512,000	e	Value Partners Group Ltd		3,688
	45,783		Virtu Financial, Inc		1,012
	17,125		Virtus Investment Partners, Inc		1,338
	72,722		Vontobel Holding AG.		3,153
	104,946	*,e	Vostok New Ventures Ltd (SDR)		685
	692,887		Voya Financial, Inc		20,627
	265,643		Waddell & Reed Financial, Inc (Class A)		6,253
	57,168		Warsaw Stock Exchange		600
	3,059,475		Waterland Financial Holdings		758
	28,425		Wendel		3,091
	21,038		Westwood Holdings Group, Inc		1,234
	404,254	e	WisdomTree Investments, Inc		4,621
	10,694		Woori Financial Co Ltd		197
	163,162		Woori Investment & Securities Co Ltd		1,418
	17,953	*,e	World Acceptance Corp		681
	10,153	*,e	ZAIS Group Holdings, Inc		49
	1,379,059	e	Zeder Investments Ltd		560
	67,000		Zenkoku Hosho Co Ltd		2,269
			TOTAL DIVERSIFIED FINANCIALS		3,744,031
ENERGY - 6.0%
	613,000	*,g	AAG Energy Holdings Ltd		101
	251,835	*,e	Abraxas Petroleum Corp		254
	7,595		Adams Resources & Energy, Inc		304

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	49,319,215		Adaro Energy Tbk	$	2,395
	162,901	*	Advantage Oil & Gas Ltd		894
	130,877	*,e	Akastor ASA		138
	130,862	e	Aker Solutions ASA		419
	79,560	e	Alon USA Energy, Inc		821
	178,734	e	AltaGas Income Trust		4,597
	893,826		AMEC plc		5,767
	695,572	*	Amerisur Resources plc		290
	1,447,488		Anadarko Petroleum Corp		67,410
	210,802	*,e	Antero Resources Corp		5,243
	1,094,000	*,e	Anton Oilfield Services Group		114
	2,498,116		Apache Corp		121,933
	1,238,608	e	ARC Resources Ltd		18,015
	225,340		Archrock, Inc		1,803
	131,438	e	Ardmore Shipping Corp		1,111
	936,586	*,e	Athabasca Oil Corp		743
	159,922	e	Atwood Oceanics, Inc		1,466
	457,807	*	Australian Worldwide Exploration Ltd		238
	170,466	e,g	Avance Gas Holding Ltd		1,185
	1,808,640		Baker Hughes, Inc		79,273
	1,423,700		Bangchak Petroleum PCL-Foreign		1,182
	508,074	*	Bankers Petroleum Ltd		720
	2,412,300	m	Banpu PCL (Foreign)		1,145
	33,333	*,e	Basic Energy Services, Inc		92
	319,835	e	Baytex Energy Trust		1,263
	3,029,354		Beach Petroleum Ltd		1,524
	150,045	*,e	Bellatrix Exploration Ltd		153
	535,419		Bharat Petroleum Corp Ltd		7,310
	145,109	*,e	Bill Barrett Corp		903
	92,593	*,e	Birchcliff Energy Ltd		377
	557,267	e	Bonavista Energy Trust		1,124
	74,411		Bonterra Oil & Gas Ltd		1,212
	61,996	e	Bourbon S.A.		927
	532,741		Boustead Singapore Ltd		346
	21,783,355		BP plc		108,990
	547,590		BP plc (ADR)		16,526
	4,021,000	e	Brightoil Petroleum Holdings Ltd		1,206
	87,047		Bristow Group, Inc		1,647
	4,117,674		Bumi Armada BHD		834
	443,341	e,g	BW LPG Ltd		2,689
	1,662,671	e	BW Offshore Ltd		260
	46,784	*,e	C&J Energy Services Ltd		66
	805,116		Cabot Oil & Gas Corp		18,284
	488,998	*	Cairn Energy plc		1,401
	1,104,252		Cairn India Ltd		2,564
	55,130	e	California Resources Corp		57
	328,362	*	Callon Petroleum Co		2,906
	713,491		Caltex Australia Ltd		18,609
	532,077	e	Cameco Corp (Toronto)		6,829
	282,782	*	Cameron International Corp		18,961
	329,465	*,e	Canacol Energy Ltd		865
	624,522	e	Canadian Energy Services & Technology Corp		1,534

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,660,652		Canadian Natural Resources Ltd (Canada)	$	44,919
	190,591	e	Canyon Services Group, Inc		540
	50,778	e	CARBO Ceramics, Inc		721
	228,148	e	Cardinal Energy Ltd		1,481
	224,140	*,e	Carrizo Oil & Gas, Inc		6,930
	1,674,484		Cenovus Energy, Inc (Toronto)		21,789
	434,613	*,e	Cheniere Energy, Inc		14,703
	1,196,685	e	Chesapeake Energy Corp		4,930
	5,418,042		Chevron Corp		516,881
	5,057,906	e	China Coal Energy Co		2,098
	10,511,826	e	China Oilfield Services Ltd		8,236
	9,580,787	e	China Shenhua Energy Co Ltd		15,074
	1,567,000	e	China Suntien Green Energy Cor		174
	246,934		Cimarex Energy Co		24,019
	4,890	*,e	Clayton Williams Energy, Inc		44
	329,786	*,e	Clean Energy Fuels Corp		966
	162,440	*,e	Cloud Peak Energy, Inc		317
	40,264,878		CNOOC Ltd		46,991
	1,398,976		Coal India Ltd		6,165
	1,028,833	*	Cobalt International Energy, Inc		3,056
	338,856		Columbia Pipeline Group, Inc		8,505
	628,406	*,e	Compagnie Generale de Geophysique S.A.		479
	2,301,366	*,e	Concho Resources, Inc		232,530
	1,685,211	n	ConocoPhillips		67,863
	483,599	e	Consol Energy, Inc		5,460
	140,789	*	Contango Oil & Gas Co		1,660
	2,007,769	*,e	Continental Resources, Inc		60,956
	11,931	e	Core Laboratories NV		1,341
	440,028		Cosan SA Industria e Comercio		3,841
	85,100	e	Cosmo Energy Holdings Co Ltd		903
	500,597	e	Crescent Point Energy Corp		6,930
	122,483	*,e	Crew Energy, Inc		363
	222,183	e	CVR Energy, Inc		5,799
	3,013,634	*	Dana Gas PJSC		427
	259,350		Dayang Enterprise Holdings BHD		84
	5,792		Delek Group Ltd		994
	221,537		Delek US Holdings, Inc		3,376
	1,364,105	e	Denbury Resources, Inc		3,028
	476,121	*	Denison Mines Corp		268
	1,410,036	*,e	Det Norske Oljeselskap ASA		10,531
	1,033,567		Devon Energy Corp		28,361
	592,711		DHT Holdings, Inc		3,414
	239,851	e	Diamond Offshore Drilling, Inc		5,212
	1,177,340	*	Diamondback Energy, Inc		90,867
	564,768	*,e	DNO International ASA		433
	62,427	*,e	Dorian LPG Ltd		587
	71,709	*	Dril-Quip, Inc		4,343
	865	*,e	Earthstone Energy, Inc		10
	13,314,068		Ecopetrol S.A.		5,813
	834,204		Empresas COPEC S.A.		7,986
	138,947	e	Enbridge Income Fund		3,167
	1,252,383	e	Enbridge, Inc		48,755

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,039,369	e	EnCana Corp	$	6,338
	281,293	e	Enerflex Ltd		2,211
	596,046		Energen Corp		21,809
	1,140,800		Energy Absolute PCL (Foreign)		722
	1,168,600		Energy Earth PCL		156
	118,273	*,e	Energy Fuels, Inc		261
	1,053,134	*,e	Energy Resources of Australia Ltd		282
	339,438	e	Enerplus Resources Fund		1,330
	2,117,882		ENI S.p.A.		31,986
	1,842,153	*,e	Enquest plc (London)		631
	749,997	e	Ensco plc		7,777
	254,762	e	Ensign Energy Services, Inc		1,173
	3,845,843		EOG Resources, Inc		279,131
	257,816	*,e	EP Energy Corp		1,165
	464,268		EQT Corp		31,227
	54,517	*	Era Group, Inc		511
	45,693		ERG S.p.A.		621
	23,386	*,e	Erin Energy Corp		44
	2,233	*	Esso SA Francaise		105
	968,500	*	Esso Thailand PCL (Foreign)		140
	112,033	*,e	Etablissements Maurel et Prom		395
	569,200		Euronav NV		5,816
	66,214	e	Evolution Petroleum Corp		322
	25,838	e	Exmar NV		217
	165,428	*	Exterran Corp		2,558
	265,093	e	Exxaro Resources Ltd		1,288
	11,033,351	d	Exxon Mobil Corp		922,278
	1,098,460	e	Ezion Holdings Ltd		464
	4,500,783	*,e,m	Ezra Holdings Ltd		370
	171,242	*,e	Fairmount Santrol Holdings, Inc		430
	186,411	*	Faroe Petroleum plc		175
	484,049	*	FMC Technologies, Inc		13,244
	2,486,306		Formosa Petrochemical Corp		7,144
	147,341	*,e	Forum Energy Technologies, Inc		1,945
	433,818	e	Frank’s International NV		7,149
	91,886	*	Fred Olsen Energy ASA		310
	68,290	e	Freehold Royalty Trust		554
	113,229	e	Frontline Ltd		948
	351,675	e	Frontline Ltd (Sigmax MTF)		2,969
	59,346	*,e	Fugro NV		1,140
	574,646		Galp Energia SGPS S.A.		7,216
	101,535	e	GasLog Ltd		989
	245,059	*,e	Gastar Exploration, Inc		270
	9,077,104		Gazprom OAO (ADR)		39,044
	84,438		Gazpromneft OAO (ADR)		940
	31,387		Gaztransport Et Technigaz S.A.		1,026
	40,366	*,e	Gener8 Maritime, Inc		285
	9,210,000	*	Genesis Energy Holdings Ltd		226
	34,054	*,e	Geospace Technologies Corp		420
	222,445	e	Gibson Energy, Inc		2,946
	383,445	e	Golar LNG Ltd		6,891
	60,000	*	Gran Tierra Energy, Inc		148

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	124,452		Great Eastern Shipping Co Ltd	$	586
	137,374	e	Green Plains Renewable Energy, Inc		2,193
	274,109	*	Grupa Lotos S.A.		2,045
	117,844		GS Holdings Corp		6,089
	131,044		Gujarat Mineral Development Corp Ltd		129
	6,300		Gulf Island Fabrication, Inc		49
	72,239	e	Gulfmark Offshore, Inc		446
	246,480	*	Gulfport Energy Corp		6,985
	53,717	e	Hallador Energy Co		246
	2,401,677		Halliburton Co		85,788
	493		Hankook Shell Oil Co Ltd		212
	311,009	*	Helix Energy Solutions Group, Inc		1,742
	384,137	e	Helmerich & Payne, Inc		22,557
	1,326,444	e	Hess Corp		69,837
	40,381	e	Hoegh LNG Holdings Ltd		431
	380,220		HollyFrontier Corp		13,429
	1,828,000	*	Honghua Group Ltd		93
	126,109	*,e	Hornbeck Offshore Services, Inc		1,252
	109,878		Hunting plc		503
	298,064		Husky Energy, Inc		3,711
	195,094	e	Idemitsu Kosan Co Ltd		3,481
	374,848	e	Imperial Oil Ltd		12,523
	41,594	*,e	Independence Contract Drilling, Inc		198
	958,400		Inner Mongolia Yitai Coal Co		751
	1,208,541		Inpex Holdings, Inc		9,152
	1,231,336	e	Inter Pipeline Ltd		25,362
	18,822,207		IRPC PCL (Foreign)		2,698
	2,440	*,e	Isramco, Inc		199
	151,953		Itochu Enex Co Ltd		1,220
	4,900	e	Japan Drilling Co Ltd		102
	54,200	e	Japan Petroleum Exploration Co		1,212
	8,565	*	Jerusalem Oil Exploration		349
	1,201,587		John Wood Group plc		10,581
	2,217,348		JX Holdings, Inc		8,538
	182,220	*,e	Karoon Gas Australia Ltd		175
	124,466	*,e	Kelt Exploration Ltd		380
	267	*,e	Key Energy Services, Inc		0	^
	591,555		Keyera Corp		17,955
	5,377,097		Kinder Morgan, Inc		96,035
	1,778,024	*	KNM Group BHD		221
	94,246		Koninklijke Vopak NV		4,687
	486,616	*,e	Kosmos Energy LLC		2,832
	323,520	*,e	KrisEnergy Ltd		46
	313,906	*,e	Laredo Petroleum Holdings, Inc		2,489
	416,646	*,e	Liquefied Natural Gas Ltd		169
	11,677		Lubelski Wegiel Bogdanka S.A.		120
	800,316		LUKOIL PJSC (ADR)		30,673
	191,817	*,e	Lundin Petroleum AB		3,242
	1,726,383		Marathon Oil Corp		19,232
	1,123,079		Marathon Petroleum Corp		41,756
	2,825,099	*,e	Matador Resources Co		53,564
	139,233	*	Matrix Service Co		2,464

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	978,164	*,e	McDermott International, Inc	$	4,001
	834,648	*,e	MEG Energy Corp		4,209
	163,619	*	Memorial Resource Development Corp		1,666
	1,320,000	*	MIE Holdings Corp		131
	16,700	e	Modec, Inc		245
	53,958		MOL Hungarian Oil and Gas plc		3,243
	141,324		Motor Oil Hellas Corinth Refineries S.A.		1,521
	87,146	e	Mullen Group Ltd		966
	399,065	e	Murphy Oil Corp		10,052
	2,967,630		Nabors Industries Ltd		27,302
	30,839	*	Naphtha Israel Petroleum Corp Ltd		157
	478,580	e	National Oilwell Varco, Inc		14,884
	32,556	*	Natural Gas Services Group, Inc		704
	436,298	e	Navios Maritime Acq Corp		694
	364,759	e	Neste Oil Oyj		11,987
	374,396		New Zealand Refining Co Ltd		802
	48,892		Newalta, Inc		69
	1,113,710	*	Newfield Exploration Co		37,031
	16,350,000	e	Newocean Energy Holdings Ltd		5,884
	206,072	*,e	Newpark Resources, Inc		890
	234,600		Nippon Coke & Engineering Co Ltd		169
	29,300		Nippon Gas Co Ltd		660
	747,811	e	Noble Corp plc		7,740
	435,352		Noble Energy, Inc		13,674
	75,051	e	Nordic American Offshore Ltd		336
	215,933	e	Nordic American Tanker Shipping		3,043
	55,891	*,e	North Atlantic Drilling Ltd		153
	45,329	e	Northern Blizzard Resources, Inc		140
	159,378	*,e	Northern Oil And Gas, Inc		636
	220,767		NovaTek OAO (GDR)		19,792
	135,305	*	NuVista Energy Ltd		510
	464,868	*,e	Oasis Petroleum, Inc		3,384
	4,297,209	*	Occidental Petroleum Corp		294,058
	162,594	e	Ocean Yield ASA		1,090
	391,642		Oceaneering International, Inc		13,018
	1,104,602	*	Oil Refineries Ltd		423
	2,128,705		Oil Search Ltd		11,085
	171,596	*	Oil States International, Inc		5,409
	94,597		OMV AG.		2,656
	465,185	e	Oneok, Inc		13,890
	530,716	*	Ophir Energy plc		586
	1,046,574		Origin Energy Ltd		4,076
	316,100		Pacc Offshore Services Holdings Ltd		84
	79,818	*,e	Pacific Ethanol, Inc		374
	29,609	*,e	Pacific Exploration and Production Corp		19
	88,436	*	Painted Pony Petroleum Ltd		291
	1,279,194	*,e	Paladin Resources Ltd		235
	63,008	e	Panhandle Oil and Gas, Inc (Class A)		1,091
	91,009	*,e	Par Petroleum Corp		1,707
	55,636	*	Paramount Resources Ltd (Class A)		291
	163,257	*	Parex Resources, Inc		1,376
	789,532	*	Parker Drilling Co		1,674

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	227,969	e	Parkland Fuel Corp	$	3,755
	3,580,871	*	Parsley Energy, Inc		80,928
	118,920		Pason Systems, Inc		1,511
	1,686,753	e	Patterson-UTI Energy, Inc		29,721
	11,973		Paz Oil Co Ltd		1,904
	245,287		PBF Energy, Inc		8,144
	141,148	*	PDC Energy, Inc		8,391
	56	*,e	Peabody Energy Corp		0	^
	473,221	e	Pembina Pipeline Income Fund		12,793
	2,369,369		Pengrowth Energy Trust		3,101
	1,472,053	e	Penn West Energy Trust		1,360
	357,649		Petrofac Ltd		4,720
	6,328,827	*	Petroleo Brasileiro S.A.		18,710
	7,218,042	*	Petroleo Brasileiro S.A. (Preference)		16,762
	942,691	e	Petroleum Geo-Services ASA		2,628
	487,359		Petronas Dagangan BHD		3,010
	447,958	e	Peyto Exploration & Development Corp		9,965
	35,865	*	PHI, Inc		678
	792,772		Phillips 66		68,646
	498,990	*	Pioneer Energy Services Corp		1,098
	1,445,998		Pioneer Natural Resources Co		203,510
	4,885,952		Polish Oil & Gas Co		6,955
	580,288		Polski Koncern Naftowy Orlen S.A.		11,479
	100,100	*,m	Poseidon Concepts Corp		1
	129,520	e	PrairieSky Royalty Ltd		2,457
	598,860	e	Precision Drilling Trust		2,508
	443,649	*,e	Premier Oil plc		281
	189,075	e	ProSafe ASA		111
	1,496,200		PT Indo Tambangraya Megah		746
	17,504,900	*	PT Sugih Energy Tbk		474
	2,436,000		PT Tambang Batubara Bukit Asam Tbk		1,152
	1,249,200		PTT Exploration & Production PCL (ADR)		2,490
	1,887,684	m	PTT Exploration & Production PCL (Foreign)		3,763
	1,266,019		PTT PCL (Foreign)		10,056
	500,672		Qatar Gas Transport Co Ltd		3,273
	439,900		QGEP Participacoes S.A.		502
	916,577		Questar Market Resources, Inc		12,933
	159,955	*	Raging River Exploration, Inc		1,118
	629,881	e	Range Resources Corp		20,396
	3,069,741		Reliance Industries Ltd		48,445
	112,654	*	Renewable Energy Group, Inc		1,063
	632,185		Repsol YPF S.A.		7,108
	14,776	*,e	Rex American Resources Corp		820
	332,261	*,e	Rice Energy, Inc		4,638
	30,303	*,e	RigNet, Inc		415
	65,058	*,e	Ring Energy, Inc		329
	2,928,601		Rosneft Oil Co (GDR)		13,259
	884,962	e	Rowan Cos plc		14,248
	5,456,738		Royal Dutch Shell plc (A Shares)		131,758
	4,848,232		Royal Dutch Shell plc (B Shares)		117,981
	2,256,086	e	RPC, Inc		31,991
	4,159,940	*,e	RSP Permian, Inc		120,805

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	14,360,355	*	Saipem S.p.A.	$	5,743
	119,000		San-Ai Oil Co Ltd		863
	144,838	*	Sanchez Energy Corp		795
	1,366,634		Santos Ltd		4,235
	4,383,318		Sapurakencana Petroleum BHD		2,089
	533,911	*	Saras S.p.A.		856
	729,505		Sasol Ltd		21,648
	169,331	*,e	SBM Offshore NV		2,151
	3,550,482		Schlumberger Ltd		261,848
	9,727	e	Schoeller-Bleckmann Oilfield Equipment AG.		592
	755,026		Scorpio Tankers, Inc		4,402
	44,093	*,e	SEACOR Holdings, Inc		2,401
	188,225	*,e	Seadrill Ltd		621
	337,481	*,e	Seadrill Ltd (Oslo Exchange)		1,082
	118,978	e	Secure Energy Services, Inc		756
	108,155		SemGroup Corp		2,423
	50	*,m	Serval Integrated Energy Services		0
	537,833	*	Seven Generations Energy Ltd		8,096
	292,800	*	Shandong Molong Petroleum Machinery Co Ltd		96
	384,242		Shanxi Guoxin Energy Corp Ltd		521
	167,252		ShawCor Ltd		3,635
	32,500		Shinko Plantech Co Ltd		247
	193,303	e	Ship Finance International Ltd		2,685
	348,258		Showa Shell Sekiyu KK		3,124
	343,100		Siamgas & Petrochemicals PCL (Foreign)		109
	83,000		Sinanen Co Ltd		324
	762,000	e	Sinopec Kantons Holdings Ltd		366
	182,592		SK Energy Co Ltd		27,519
	14,527		SK Gas Co Ltd		1,014
	234,340	e	SM Energy Co		4,392
	172,986		Soco International plc		394
	56,866		S-Oil Corp		4,876
	1,066,503	*,e	Southwestern Energy Co		8,607
	218,039	*,e	Spartan Energy Corp		443
	1,631,051		Spectra Energy Corp		49,910
	5,181,891	e	Statoil ASA		80,933
	445,044	e	Stobart Group Ltd		671
	60,377	*,e	Stone Energy Corp		48
	604,286	*,e	Subsea 7 S.A.		4,558
	2,152,764		Suncor Energy, Inc		59,954
	1,628,416		Superior Energy Services		21,805
	592,685	e	Surge Energy, Inc		940
	1,992,284		Surgutneftegaz (ADR)		11,588
	284,500		Surgutneftegaz (ADR) (London)		1,667
	292,507	*,e	Synergy Resources Corp		2,273
	26,715	*,e	Tanker Investments Ltd		253
	380,623		Targa Resources Investments, Inc		11,365
	439,366	e	Tatneft PAO (ADR)		13,933
	142,531		Technip S.A.		7,899
	61,994	e	Tecnicas Reunidas S.A.		1,739
	123,953	e	Teekay Corp		1,073
	356,231	e	Teekay Tankers Ltd (Class A)		1,307

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,031,237		Tenaris S.A.	$	12,795
	129,040		Tesco Corp		1,111
	295,804		Tesoro Corp		25,442
	109,185		Tethys Oil AB		725
	341,834	*	Tetra Technologies, Inc		2,171
	342,919	e	TGS Nopec Geophysical Co ASA		5,227
	1,300,157		Thai Oil PCL (Foreign)		2,555
	119,303	e	Tidewater, Inc		815
	112,988		TMK OAO (GDR)		342
	650,848		TonenGeneral Sekiyu KK		5,887
	126,377	e	TORC Oil & Gas Ltd		751
	22,950	*,e	Torm A.S.		294
	61,392		Total Energy Services, Inc		567
	4,457,907		Total S.A.		202,841
	138,712	*	Tourmaline Oil Corp		2,937
	387,000		Toyo Kanetsu K K		846
	59,805	*,e	TransAtlantic Petroleum Ltd		45
	1,604,498	e	TransCanada Corp		63,080
	159,069		Transocean Ltd		1,395
	72,747	*,e	Trilogy Energy Corp		201
	192,887		Trinidad Drilling Ltd		241
	1,439,182	*,e	Tullow Oil plc		4,048
	617,509	*	Tupras Turkiye Petrol Rafine		17,393
	453,993		Ultrapar Participacoes S.A.		8,812
	689,300		UMW Oil & Gas Corp BHD		161
	197,824	*,e	Unit Corp		1,743
	302,681	*,e	Uranium Energy Corp		226
	153,550	e	US Silica Holdings Inc		3,489
	1,271,058		Valero Energy Corp		81,526
	94,852	e	Vallourec SA		617
	670,279	e	Veresen, Inc		4,526
	56,418	e	Vermilion Energy, Inc		1,651
	8,740		VTTI Energy Partners LP		162
	100,980	*,e	W&T Offshore, Inc		221
	265,555		Wah Seong Corp BHD		51
	2,946,846	*	Weatherford International Ltd		22,926
	58,184		Western Energy Services Corp		112
	273,846	e	Western Refining, Inc		7,966
	38,218	*	Westmoreland Coal Co		276
	520,206	e	Whitecap Resources, Inc		3,100
	2,288,085	*,e	Whitehaven Coal Ltd		1,147
	470,381	*,e	Whiting Petroleum Corp		3,754
	1,514,793		Williams Cos, Inc		24,343
	2,439,000	*,e	Wison Engineering Services Co Ltd		305
	1,365,188		Woodside Petroleum Ltd		27,309
	301,146		World Fuel Services Corp		14,630
	331,192	e	WorleyParsons Ltd		1,368
	811,538	*,e	WPX Energy, Inc		5,673
	4,860,000	*,e	Yanchang Petroleum International Ltd		100
	3,304,861	e	Yanzhou Coal Mining Co Ltd		1,725
	261,196	*	YPF S.A. (ADR) (Class D)		4,670
	4,096,000	*	Yuan Heng Gas Holdings Ltd		327

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY		(000)
	639,552	e	Z Energy Ltd	$	2,983
			TOTAL ENERGY		6,673,281
FOOD & STAPLES RETAILING - 1.9%
	1,322,700		7-Eleven Malaysia Holdings BHD		475
	337,726		Aeon Co Ltd		4,879
	18,700		Ain Pharmaciez Inc		958
	14,863		Al Meera Consumer Goods Co		845
	896,139		Alimentation Couche Tard, Inc		39,882
	1,105,251		Almacenes Exito S.A.		5,776
	71,568		Andersons, Inc		2,248
	33,179		Arcs Co Ltd		742
	314,759	e	Axfood AB		5,809
	12,000		Axial Retailing, Inc		395
	7,200		Belc Co Ltd		272
	8,099		BGF retail Co Ltd		1,161
	234,227		BIM Birlesik Magazalar AS		5,079
	27,122		Bizim Toptan Satis Magazalari AS		157
	3,280,489		Booker Group plc		8,109
	514,189		Carrefour S.A.		14,126
	92,823		Casey’s General Stores, Inc		10,519
	157,763	e	Casino Guichard Perrachon S.A.		9,029
	75,500	e	Cawachi Ltd		1,362
	4,770,823		Centros Comerciales Sudamericanos S.A.		12,033
	47,299	*	Chefs’ Warehouse Holdings, Inc		960
	1,503,081	*	China Resources Enterprise		2,800
	451,941		Cia Brasileira de Distribuicao Grupo Pao de Acucar		6,266
	5,658		CJ Freshway Corp		284
	230,206		Clicks Group Ltd		1,515
	53,960		Cocokara Fine Holdings, Inc		2,341
	41,074		Colruyt S.A.		2,389
	7,085,500		Cosco Capital, Inc		1,139
	8,100	e	Cosmos Pharmaceutical Corp		1,347
	1,252,340		Costco Wholesale Corp		197,344
	1,484,300		CP Seven Eleven PCL (ADR)		1,928
	4,968,009		CP Seven Eleven PCL (Foreign)		6,453
	140,600		Create SD Holdings Co Ltd		3,535
	3,777,435		CVS Health Corp		391,834
	5,000	e	Daikokutenbussaan Co Ltd		217
	111,605		Delhaize Group		11,632
	2,400,937	e	Distribuidora Internacional de Alimentacion S.A.		12,440
	34,637		Dongsuh Co, Inc		974
	53,137		E-Mart Co Ltd		8,160
	211,854		Empire Co Ltd		3,670
	188,642		Eurocash S.A.		2,694
	170,791		FamilyMart Co Ltd		8,870
	105,317	*,e	Fresh Market, Inc		3,005
	62,969		George Weston Ltd		5,638
	324,097		Greggs plc		5,057
	19,700		Growell Holdings Co Ltd		1,134
	298,713	e	Grupo Comercial Chedraui S.a. DE C.V.		951
	21,680		GS Retail Co Ltd		894

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	59,000		Heiwado Co Ltd	$	1,224
	4,003		Hyundai C&F, Inc		86
	40,917		Hyundai Greenfood Co Ltd		695
	326,841	e	ICA Gruppen AB		10,803
	3,032	*	Indiabulls Wholesale Service		1
	31,655		Ingles Markets, Inc (Class A)		1,187
	9,200	e	Itochu-Shokuhin Co Ltd		345
	2,908,902	e	J Sainsbury plc		11,527
	102,849		Jean Coutu Group PJC, Inc		1,744
	754,187		Jeronimo Martins SGPS S.A.		12,329
	18,200		Kato Sangyo Co Ltd		450
	193,490	e	Kesko Oyj (B Shares)		8,538
	21,300	e	Kobe Bussan Co Ltd		492
	1,997,483		Koninklijke Ahold NV		44,866
	5,332,405		Kroger Co		203,964
	14,000	e	Kusuri No Aoki Co Ltd		765
	400,000	*,e	La Comer SAB de C.V.		432
	383,314		Lawson, Inc		32,087
	379,000	*	Lianhua Supermarket Holdings Co Ltd		130
	48,100	e	Life Corp		1,203
	234,792		Loblaw Cos Ltd		13,146
	405,131		Magnit OAO (GDR)		16,163
	62,093	e	Majestic Wine plc		377
	94,102		MARR S.p.A.		1,895
	119,093		Massmart Holdings Ltd		1,021
	74,500		Matsumotokiyoshi Holdings Co Ltd		3,896
	3,423,909	e	Metcash Ltd		4,557
	737,379	e	Metro AG.		22,810
	550,568		Metro, Inc		19,102
	34,778	*	Migros Ticaret AS		220
	11,500		Ministop Co Ltd		209
	23,002	*,e	Natural Grocers by Vitamin C		489
	36,400	e	Nihon Chouzai Co Ltd		1,304
	158,457	e	North West Co Fund		3,528
	38,000	e	Okuwa Co Ltd		339
	2,000	e	Olam International Ltd		2
	66,520	*,e	Performance Food Group Co		1,553
	402,280		Pick’n Pay Holdings Ltd		775
	257,033	e	Pick’n Pay Stores Ltd		1,221
	662,980		President Chain Store Corp		4,828
	46,946	e	Pricesmart, Inc		3,971
	1,124,500		PT Matahari Putra Prima Tbk		137
	22,000,000		PT Modern Internasional Tbk		211
	92,300		Qol Co Ltd		1,384
	231,853		Raia Drogasil S.A.		3,366
	19,151	e	Rallye S.A.		332
	5,268		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		204
	2,910,621	*	Rite Aid Corp		23,722
	4,229,200		Robinsons Retail Holdings, Inc		6,799
	39,879		Ryoshoku Ltd		1,013
	13,700		San-A Co Ltd		647
	966,297		Seven & I Holdings Co Ltd		41,172

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	457,000		Sheng Siong Group Ltd	$	285
	1,111,571		Shoprite Holdings Ltd		13,047
	203,673		Shufersal Ltd		684
	103,652	*	Smart & Final Stores, Inc		1,679
	24,900		Sogo Medical Co Ltd		845
	788,908		Sonae SPGS S.A.		950
	397,682		Spar Group Ltd		5,360
	172,410		Spartan Stores, Inc		5,226
	332,950	*	Sprouts Farmers Market, Inc		9,669
	32,600		Sugi Pharmacy Co Ltd		1,720
	6,566,883	e	Sun Art Retail Group Ltd		4,656
	54,900		Sundrug Co Ltd		4,103
	1,506,947	*	Supervalu, Inc		8,680
	1,472,773		Sysco Corp		68,823
	646,000		Taiwan TEA Corp		298
	22,654,991	*	Tesco plc		62,222
	68,576		Tsuruha Holdings, Inc		6,745
	274,947	*	United Natural Foods, Inc		11,080
	87,100	e	United Super Markets Holdings, Inc		827
	698,800		UNY Co Ltd		4,919
	64,900		Valor Co Ltd		1,636
	16,965		Village Super Market (Class A)		410
	2,185,212		Walgreens Boots Alliance, Inc		184,082
	8,823,696		Wal-Mart de Mexico SAB de C.V.		20,939
	4,604,131		Wal-Mart Stores, Inc		315,337
	25,561		Weis Markets, Inc		1,152
	1,325,970		Wesfarmers Ltd		42,087
	715,337		Whole Foods Market, Inc		22,254
	2,613,040	e	WM Morrison Supermarkets plc		7,442
	1,420,730		Woolworths Ltd		24,045
	174,306	*	X 5 Retail Group NV (GDR)		3,688
	33,800		Yaoko Co Ltd		1,492
	109,800	e	Yokohama Reito Co Ltd		1,040
			TOTAL FOOD & STAPLES RETAILING		2,160,010
FOOD, BEVERAGE & TOBACCO - 5.7%
	25,332		AarhusKarlshamn AB		2,011
	164,025	*	Adecoagro S.A.		1,894
	28,026	*	Advanta Ltd		204
	42,679		AGT Food & Ingredients, Inc		1,247
	298,626		Agthia Group PJSC		624
	913,485		Ajinomoto Co, Inc		20,596
	9,573	e	Alico, Inc		264
	7,153,718		Altria Group, Inc		448,252
	8,296,408		AMBEV S.A.		43,424
	70,699	*,e	Amplify Snack Brands, Inc		1,012
	22,243		Amsterdam Commodities NV		599
	219,617		Anadolu Efes Biracilik Ve Malt Sanayii AS		1,671
	1,078,503		Anheuser-Busch InBev NV		133,990
	2,974	*,m	Anheuser-Busch InBev NV (Strip VVPR)		0
	107,700		Anhui Gujing Distillery Co Ltd		354
	5,429	*,e	Arcadia Biosciences, Inc		15

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	827,193	e	Archer Daniels Midland Co	$	30,035
	17,900		Ariake Japan Co Ltd		1,049
	97,117	e	Aryzta AG.		4,013
	346,944		Asahi Breweries Ltd		10,799
	1,936,006		Associated British Foods plc		92,885
	162,753		Astral Foods Ltd		1,222
	8,278		Atria Group plc		82
	221,752		Austevoll Seafood ASA		1,820
	326,210	*	Australian Agricultural Co Ltd		325
	806,217		AVI Ltd		4,744
	150,842		B&G Foods, Inc (Class A)		5,251
	169,945	e	Bakkafrost P		6,576
	2,280		Barry Callebaut AG.		2,472
	93,889	e	Bega Cheese Ltd		424
	150,297	e	Bellamy’s Australia Ltd		1,191
	20,330	*	Belvedere S.A.		444
	4,899		Binggrae Co Ltd		297
	175,799	e	Biostime Internatonal Holdings Ltd		647
	81,189	*,e	Blue Buffalo Pet Products, Inc		2,083
	28,458		Bonduelle S.C.A.		838
	22,224	*,e	Boston Beer Co, Inc (Class A)		4,113
	540,700		Boustead Plantations BHD		215
	1,090,648		BRF S.A.		15,564
	259,848		British American Tobacco Malaysia BHD		3,599
	4,825,683		British American Tobacco plc		282,186
	5,658,719		Britvic plc		57,671
	45,322	e	Brown-Forman Corp		4,835
	140,578		Brown-Forman Corp (Class B)		13,843
	462,100	e	Bumitama Agri Ltd		319
	492,015		Bunge Ltd		27,882
	294,394		C&C Group plc		1,328
	35,262		Calavo Growers, Inc		2,012
	109,274		Calbee, Inc		4,336
	74,999	e	Cal-Maine Foods, Inc		3,893
	482,062		Campbell Soup Co		30,751
	222,200		Carabao Group PCL		254
	33,235		Carlsberg AS (Class B)		3,160
	260,400		Carlsberg Brewery-Malay BHD		933
	162,152	*,e	Castle Brands, Inc		152
	29,986		CCL Products India Ltd		87
	2,524,300		Century Pacific Food, Inc		1,042
	651,000		Changshouhua Food Co Ltd		363
	2,939,800		Charoen Pokphand Foods PCL		2,038
	2,215,000	*,e	China Agri-Industries Holdings Ltd		684
	4,662,296	e	China Huishan Dairy Holdings Co Ltd		1,756
	770,500	*	China Huiyuan Juice Group Ltd		296
	6,154,720		China Mengniu Dairy Co Ltd		9,802
	6,359,000	e	China Modern Dairy Holdings		1,397
	40,798	*	China Ocean Resources Co Ltd		87
	1,289,000	*,e	China Yurun Food Group Ltd		209
	149,877		Cia Cervecerias Unidas S.A.		1,689
	9,079		CJ CheilJedang Corp		2,762

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	20,829		Clearwater Seafoods, Inc	$	205
	181,543	*	Cloetta AB		576
	280,276		Clover Industries Ltd		327
	795,250		Coca-Cola Amatil Ltd		5,385
	10,965		Coca-Cola Bottling Co Consolidated		1,752
	152,998		Coca-Cola Central Japan Co Ltd		2,536
	14,352,563		Coca-Cola Co		665,816
	380,882		Coca-Cola Embonor S.A.		696
	598,834		Coca-Cola Enterprises, Inc		30,385
	566,820	e	Coca-Cola Femsa S.A. de C.V.		4,710
	80,600	e	Coca-Cola Femsa SAB de C.V. (ADR)		6,694
	296,493		Coca-Cola HBC AG.		6,288
	399,569		Coca-Cola Icecek AS		5,828
	163,800		Coca-Cola West Japan Co Ltd		4,050
	794,000	*	Cofco International Ltd		338
	2,787,339		ConAgra Foods, Inc		124,371
	524,919		Constellation Brands, Inc (Class A)		79,310
	12,823		Corby Spirit and Wine Ltd		183
	228,760	e	Costa Group Holdings Ltd		509
	93,985		Cott Corp		1,306
	25,297	*,e	Craft Brewers Alliance, Inc		208
	3,649		Crown Confectionery Co Ltd		1,685
	921		Dae Han Flour Mills Co Ltd		158
	91,075		Daesang Corp		2,313
	12,141		Daesang Holdings Co Ltd		139
	116,542		Dairy Crest Group plc		1,034
	724,474	*	Darling International, Inc		9,541
	3,880,275		Davide Campari-Milano S.p.A.		38,729
	415,074	e	Dean Foods Co		7,189
	313,945	*	Deoleo S.A.		82
	244,504		Devro plc		1,033
	4,170,967		Diageo plc		112,466
	41,605		Diageo plc (ADR)		4,488
	1,093		Dongwon F&B Co Ltd		319
	1,200		Dongwon Industries Co Ltd		299
	763,082	e	Dr Pepper Snapple Group, Inc		68,235
	27,900		Dydo Drinco, Inc		1,300
	1,214,000	*,e,m	Dynasty Fine Wines Group Ltd		2
	36,601		Easy Bio, Inc		177
	66,478	e	Ebro Puleva S.A.		1,449
	312,779		Embotelladora Andina S.A.		1,028
	1,463,933		Embotelladoras Arca SAB de C.V.		10,120
	5,034		Emmi AG.		2,749
	42,400		Ezaki Glico Co Ltd		2,172
	39,522	*	Farmer Bros Co		1,101
	10,826	*	Farmsco		110
	6,313,399		Felda Global Ventures Holdings BHD		2,443
	237,927		Fevertree Drinks plc		2,261
	2,163,000	e	First Resources Ltd		3,246
	261,320	e	Flowers Foods, Inc		4,824
	2,923,230		Fomento Economico Mexicano S.A. de C.V.		28,222
	133,250	e	Fonterra Shareholders’ Fund		546

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	78,685		Fresh Del Monte Produce, Inc	$	3,310
	47,978	*,e	Freshpet, Inc		352
	57,873		Fuji Oil Co Ltd		1,042
	14,932		Fujicco Co Ltd		312
	95,000	*	Fujiya Co Ltd		162
	1,636,975		General Mills, Inc		103,702
	201,014		Genting Plantations BHD		577
	1,877,700		GFPT PCL (Foreign)		646
	173,432		Glanbia plc		3,540
	10,552		GlaxoSmithKline Consumer Healthcare Ltd		962
	6,894,154		Golden Agri-Resources Ltd		2,097
	157,269		GrainCorp Ltd-A		908
	1,379,272		Great Wall Enterprise Co		891
	503,048		Greencore Group plc		2,705
	1,345,023		Groupe Danone		95,432
	868,200		Gruma SAB de C.V.		13,754
	1,693,443	*	Grupo Bimbo S.A. de C.V. (Series A)		5,006
	268,545	e	Grupo Herdez SAB de C.V.		592
	1,619,200		Grupo Lala SAB de C.V.		4,412
	145,924	*	Hain Celestial Group, Inc		5,970
	27,493	*	Harim & Co Ltd		107
	134,359		Heineken Holding NV		10,460
	962,840		Heineken NV		87,115
	240,638		Hershey Co		22,160
	267,500		Hey Song Corp		294
	35,577		High Liner Foods, Inc		411
	7,090		Hite Holdings Co Ltd		95
	23,847		HKScan Oyj		88
	17,400	e	Hokuto Corp		344
	161,000	g	Honworld Group Ltd		112
	709,563		Hormel Foods Corp		30,682
	100,952	e	House Foods Corp		1,887
	477,200		Ichitan Group PCL		176
	217,935		Illovo Sugar Ltd		304
	973,887		Imperial Tobacco Group plc		53,921
	378,978	e	Indofood Agri Resources Ltd		170
	2,601,977		Indofood CBP Sukses Makmur Tbk		2,978
	538,600		Industrias Bachoco SAB de C.V.		2,308
	472,758		Ingredion, Inc		50,486
	49,445	*,e	Inventure Foods, Inc		279
	6,399,083		IOI Corp BHD		7,499
	3,819,477		ITC Ltd		18,924
	49,000	e	Ito En Ltd		1,547
	443,000	e,m	Itoham Foods, Inc		2,919
	53,930		J&J Snack Foods Corp		5,840
	238,592		J.M. Smucker Co		30,979
	2,456,377		Japan Tobacco, Inc		102,241
	934,600	*	Japfa Ltd		413
	2,504,893		JBS S.A.		7,628
	62,359		Jinro Ltd		1,576
	66,115		John B. Sanfilippo & Son, Inc		4,568
	239,000		J-Oil Mills, Inc		730

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	630,238		Juhayna Food Industries	$	524
	63,173	e	Kagome Co Ltd		1,235
	9,700	e	Kameda Seika Co Ltd		386
	23,361		Kaveri Seed Co Ltd		133
	685,765		Kellogg Co		52,495
	611,182		Kerry Group plc (Class A)		56,839
	15,000	e	KEY Coffee, Inc		249
	2,592,700		Khon Kaen Sugar Industry PCL		309
	153,671	e	Kikkoman Corp		5,044
	550,090		Kirin Brewery Co Ltd		7,706
	141,745		Koninklijke Wessanen NV		1,535
	2,621,921		Kraft Heinz Co		205,978
	48,625		KRBL Ltd		164
	280,432		KT&G Corp		27,003
	1,075,695		Kuala Lumpur Kepong BHD		6,616
	1,068,800		Kulim Malaysia BHD		1,063
	2,763	e	KWS Saat AG.		901
	58,354		La Doria S.p.A		874
	44,021	e	Lancaster Colony Corp		4,867
	65,096	*	Landec Corp		684
	81,829		Leroy Seafood Group ASA		3,863
	2,415,000	*,e	Leyou Technologies Holdings Ltd		278
	510,666		Lien Hwa Industrial Corp		321
	18,622	*,e	Lifeway Foods, Inc		202
	32,766	e	Limoneira Co		498
	269		Lindt & Spruengli AG.		1,667
	32		Lindt & Spruengli AG. (Registered)		2,394
	526		Lotte Chilsung Beverage Co Ltd		837
	607		Lotte Confectionery Co Ltd		1,363
	626		Lotte Samkang Co Ltd		459
	32,846		M Dias Branco S.A.		615
	81,001		Maeil Dairy Industry Co Ltd		3,133
	84,826		Maple Leaf Foods, Inc		1,773
	242,500	*	Marfrig Global Foods S.A.		438
	207,000		Marudai Food Co Ltd		804
	127,900	e	Maruha Nichiro Corp		2,385
	248,858		McCormick & Co, Inc		24,756
	72,096		McLeod Russel India Ltd		202
	271,781		Mead Johnson Nutrition Co		23,093
	214,200		Megmilk Snow Brand Co Ltd		5,382
	209,200		MEIJI Holdings Co Ltd		16,811
	21,841		Mgp Ingredients, Inc		529
	243,500	*	Minerva S.A.		758
	303,000		Mitsui Sugar Co Ltd		1,350
	1,540,794		Molson Coors Brewing Co (Class B)		148,194
	5,221,414		Mondelez International, Inc		209,483
	1,522,369	*	Monster Beverage Corp		203,054
	185,302		Morinaga & Co Ltd		943
	805,000		Morinaga Milk Industry Co Ltd		4,309
	13,079		Muhak Co Ltd		412
	153,000		Namchow Chemical Industrial Ltd		296
	278		Namyang Dairy Products Co Ltd		199

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	83,952	*	National Beverage Corp	$	3,553
	7,115	e	Naturex		592
	38,267		Nestle India Ltd		3,326
	4,052,933		Nestle S.A.		302,433
	557,000		Nichirei Corp		4,522
	232,000		Nippon Beet Sugar Manufacturing Co Ltd		393
	108,000		Nippon Flour Mills Co Ltd		887
	274,705		Nippon Meat Packers, Inc		6,047
	613,166	e	Nippon Suisan Kaisha Ltd		2,976
	366,000		Nisshin Oillio Group Ltd		1,493
	93,507		Nisshin Seifun Group, Inc		1,485
	21,473		Nissin Food Products Co Ltd		1,009
	4,770		Nong Shim Co Ltd		1,669
	1,512		Nong Shim Holdings Co Ltd		200
	6,467		Nong Woo Bio Co Ltd		125
	95,074	e	Oceana Group Ltd		805
	52,475	*	Omega Protein Corp		889
	214,200		Organizacion Cultiba SAB de C.V.		301
	279,881		Origin Enterprises plc		2,140
	3,751		Orion Corp		3,000
	294,478		Orkla ASA		2,663
	28,907		Osem Investments Ltd		632
	1,028		Ottogi Corp		816
	327,085		PAN Fish ASA		5,036
	3,844,929		PepsiCo, Inc		394,028
	1,399,000		Pepsi-Cola Products Philippine		118
	75,749		Pernod-Ricard S.A.		8,435
	72,987	*,m	Pescanova S.A.		1
	781,500	e	Petra Foods Ltd		1,623
	1,570		Philip Morris CR		872
	5,342,646		Philip Morris International, Inc		524,167
	557,542	*,e	Pilgrim’s Pride Corp		14,162
	37,347		Pinar SUT Mamulleri Sanayii AS		216
	2,873,455	n	Pinnacle Foods, Inc		128,386
	101,276		Pioneer Foods Ltd		954
	570,209	*,e	Post Holdings, Inc		39,213
	805,890		PPB Group BHD		3,448
	1,148,464	*	Premier Foods plc		939
	65,169	e	Premium Brands Holdings Corp		2,750
	932,000		Prima Meat Packers Ltd		2,358
	2,151,415		PT Astra Agro Lestari Tbk		2,950
	5,692,200	m	PT Austindo Nusantara Jaya		753
	1,389,600		PT Bisi International		185
	10,826,700		PT BW Plantation Tbk		236
	7,969,110		PT Charoen Pokphand Indonesia Tbk		2,156
	1,545,368		PT Gudang Garam Tbk		7,607
	697,100		PT Hanjaya Mandala Sampoerna Tbk		5,170
	13,749,531		PT Indofood Sukses Makmur Tbk		7,491
	4,434,500		PT Japfa Comfeed Indonesia Tbk		268
	1,411,300		PT Nippon Indosari Corpindo Tbk		136
	11,854,700		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		1,626
	8,323,600		PT Salim Ivomas Pratama Tbk		296

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,837,800		PT Sawit Sumbermas Sarana Tbk	$	267
	4,905		Pulmuone Co Ltd		763
	85,400		Q.P. Corp		1,933
	415,919		QAF Ltd		318
	811,750		QL Resources BHD		905
	38,344	*,g	Refresco Gerber NV		685
	11,695	e	Remy Cointreau S.A.		887
	3,209,565		Reynolds American, Inc		161,473
	9,400,000		RFM Corp		847
	111,538		Rhodes Food Group Pty Ltd		160
	167,205	e	Rogers Sugar, Inc		663
	135,699		Royal Unibrew A.S.		6,544
	9,800	e	S Foods, Inc		212
	1,042,920		SABMiller plc		63,699
	2,054	*	Sajo Industries Co Ltd		109
	24,055		Sakata Seed Corp		611
	212,494	e	Salmar ASA		5,206
	1,948		Samlip General Foods Co Ltd		365
	15,959		Samyang Corp		1,321
	18,170		Samyang Holdings Corp		2,499
	54,264	e	Sanderson Farms, Inc		4,894
	46,700		Sao Martinho S.A.		627
	1,408,000		Sapporo Holdings Ltd		7,003
	335,148		Saputo, Inc		10,745
	109,319		Scandi Standard AB		793
	46,931		Schouw & Co		2,928
	784	*	Seaboard Corp		2,354
	481,103	e	Select Harvests Ltd		1,520
	25,010	*	Seneca Foods Corp		869
	270,200	*	Shandong Zhonglu Oceanic Fisheries Co Ltd		259
	341,400	*	Shanghai Dajiang Group		221
	1,292,000		Shenguan Holdings Group Ltd		133
	179,000		Showa Sangyo Co Ltd		741
	5,310		Silla Co Ltd		75
	45,500		SLC Agricola S.A.		200
	347,946	e	Snyder’s-Lance, Inc		10,953
	1,070,282		Standard Foods Corp		2,655
	181,907		Stock Spirits Group plc		383
	35,425		Strauss Group Ltd		531
	91,232		Suedzucker AG.		1,605
	274,383		Suntory Beverage & Food Ltd		12,344
	395,400	e	Super Coffeemix Manufacturing Ltd		290
	216,718		Swedish Match AB		7,346
	53,507	*,e	Synutra International, Inc		266
	138,100		Takara Holdings, Inc		1,136
	130,081		Tassal Group Ltd		381
	542,803		Tata Tea Ltd		994
	464,618		Tate & Lyle plc		3,851
	594,900		TDM BHD		120
	2,143,000		Tenwow International Holdings Ltd		572
	1,577,200		Thai Union Group PCL		937
	1,723,400		Thai Vegetable Oil PCL		1,146

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,423,000	e	Tibet 5100 Water Resources Holdings Ltd	$	442
	1,751,300		Tiga Pilar Sejahtera Food Tbk		157
	185,169		Tiger Brands Ltd		4,073
	2,225,542	e	Tingyi Cayman Islands Holding Corp		2,487
	1,202,900	*	TIPCO Foods PCL		454
	99,129		Tongaat Hulett Ltd		701
	45,856	e	Tootsie Roll Industries, Inc		1,602
	107,446		Toyo Suisan Kaisha Ltd		3,857
	685,415	*	Treasury Wine Estates Ltd		5,061
	172,642	*	TreeHouse Foods, Inc		14,977
	3,920		TS Corp		83
	455,086	e	Tsingtao Brewery Co Ltd		1,732
	141,000		Ttet Union Corp		346
	1,214,902		Tyson Foods, Inc (Class A)		80,985
	144,518		Ulker Biskuvi Sanayi AS		1,072
	574,000	e	Uni-President China Holdings Ltd		459
	7,221,260		Uni-President Enterprises Corp		12,681
	71,762		United Breweries Ltd		896
	93,198	*	United Spirits Ltd		3,516
	54,324	e	Universal Corp		3,086
	1,496,845		Universal Robina		7,048
	206,515	e	Vector Group Ltd		4,717
	7,779	e	Vilmorin & Cie		575
	342,910		Vina Concha y Toro S.A.		596
	44,000,000		Vina San Pedro Tarapaca S.A.		456
	41,031		Viscofan S.A.		2,453
	5,809,124	e	Want Want China Holdings Ltd		4,308
	37,800		Warabeya Nichiyo Co Ltd		832
	296,000	*	Wei Chuan Food Corp		182
	6,075,500	*,e,g	WH Group Ltd		4,394
	628,318	*	WhiteWave Foods Co (Class A)		25,535
	4,025,267	e	Wilmar International Ltd		10,038
	21,931	e	Yakult Honsha Co Ltd		970
	226,735		Yamazaki Baking Co Ltd		4,772
	7,000	e,m	Yonekyu Corp		169
	2,899,000	*,e	YuanShengTai Dairy Farm Ltd		157
	8,507		Zydus Wellness Ltd		94
			TOTAL FOOD, BEVERAGE & TOBACCO		6,316,402
HEALTH CARE EQUIPMENT & SERVICES - 3.9%
	19,154	*,e	AAC Holdings, Inc		379
	55,827		Abaxis, Inc		2,534
	5,847,934		Abbott Laboratories		244,619
	148,951	*	Abiomed, Inc		14,122
	200,353	*,e	Acadia Healthcare Co, Inc		11,041
	193,732	*,e	Accuray, Inc		1,120
	105,793	e	Aceto Corp		2,492
	15,921	*	Addus HomeCare Corp		274
	14,910	*,e	Adeptus Health, Inc		828
	451,879		Advanced Medical Solutions Group plc		1,178
	1,599,215		Aetna Inc		179,672
	771,633	*	AGFA-Gevaert NV		3,433

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	97,233	*,e	Air Methods Corp	$	3,522
	381,654		Al Noor Hospitals Group plc		4,901
	114,562	*	Alere, Inc		5,798
	559,834		Alfresa Holdings Corp		10,744
	337,418	*	Align Technology, Inc		24,527
	21,485	*,e	Alliance HealthCare Services, Inc		154
	510,403	*	Allscripts Healthcare Solutions, Inc		6,742
	23,499	*	Almost Family, Inc		875
	33,071	e	Ambu A.S.		1,171
	132,807	*	Amedisys, Inc		6,420
	480,274		AmerisourceBergen Corp		41,568
	139,362	*	AMN Healthcare Services, Inc		4,684
	314,233		Amplifon S.p.A.		2,723
	189,043	*	Amsurg Corp		14,103
	30,097		Analogic Corp		2,378
	81,530	*	Angiodynamics, Inc		1,002
	35,985	*	Anika Therapeutics, Inc		1,609
	148,335		Ansell Ltd		1,961
	358,920	*,e	Antares Pharma, Inc		312
	945,258		Anthem, Inc		131,381
	208,318		Apollo Hospitals Enterprise Ltd		4,180
	11,700		As One Corp		442
	87,300		Asahi Intecc Co Ltd		4,085
	44,817	*,e	athenahealth, Inc		6,220
	78,818	*,e	AtriCure, Inc		1,327
	5,528		Atrion Corp		2,186
	1,362,031		Australian Pharmaceutical Industries Ltd		2,038
	1,551,850		Bangkok Chain Hospital PCL		480
	4,306,200		Bangkok Dusit Medical Services PCL		2,840
	261,609		Bard (C.R.), Inc		53,020
	2,314,218		Baxter International, Inc		95,068
	278,803		Becton Dickinson & Co		42,328
	185,251	*,e	BioScrip, Inc		396
	1,725,400	*	Biosensors International Group Ltd		1,056
	66,878	*	BioTelemetry, Inc		781
	39,700		BML, Inc		1,537
	5,372,938	*	Boston Scientific Corp		101,065
	302,335	*	Brookdale Senior Living, Inc		4,801
	819,700		Bumrungrad Hospital PCL (Foreign)		4,936
	130,181		Cantel Medical Corp		9,290
	42,910	*,e,g	Capio AB		227
	71,823	*	Capital Senior Living Corp		1,330
	874,164		Cardinal Health, Inc		71,638
	76,459	*,e	Cardiovascular Systems, Inc		793
	27,909	e	Carl Zeiss Meditec AG.		861
	2,903	*,e	Carmat		116
	93,901	*,e	Castlight Health, Inc		313
	4,316	*	Cegedim S.A.		125
	304		Celesio AG.		9
	973,688	*	Centene Corp		59,950
	1,117,299	*	Cerner Corp		59,172
	235,666	*,e	Cerus Corp		1,398

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	34,821	*	CHA Bio & Diostech Co Ltd	$	419
	228,736		Chartwell Retirement Residences		2,483
	72,147		CHC Healthcare Group		123
	41,711		Chemed Corp		5,650
	4,940,000	e	China Jiuhao Health Industry Corp Ltd		624
	872,000	*,e	China NT Pharma Group Co Ltd		243
	411,000	e	China Pioneer Pharma Holdings Ltd		107
	5,878,900		Chularat Hospital PCL		447
	582,654		Cigna Corp		79,963
	82,668	*	Civitas Solutions, Inc		1,441
	81,258		Cochlear Ltd		6,356
	42,362		Coloplast AS		3,206
	187,625		Community Health Systems, Inc		3,473
	23,364	e	CompuGroup Medical AG.		987
	26,587	e	Computer Programs & Systems, Inc		1,386
	25,647	*,e	ConforMIS, Inc		276
	67,226		Conmed Corp		2,819
	18,684	*,e	Connecture, Inc		48
	25,400		Consort Medical plc		392
	79,837		Cooper Cos, Inc		12,293
	900,000	e	Cordlife Group Ltd		884
	55,542	*,e	Corindus Vascular Robotics, Inc		55
	49,053	*	Corvel Corp		1,934
	236,890	*	Cross Country Healthcare, Inc		2,755
	66,450		CryoLife, Inc		714
	44,493	*	Cutera, Inc		501
	180,380		CVS Group plc		1,992
	49,000	*,e	CYBERDYNE, Inc		936
	74,841	*	Cynosure, Inc (Class A)		3,302
	50,000	e	Daiken Medical Co Ltd		398
	446,360	*	DaVita, Inc		32,754
	556,164		DENTSPLY SIRONA, Inc		34,276
	214,286	*	DexCom, Inc		14,552
	77,996		DiaSorin S.p.A.		4,504
	9,880	*	DIO Corp		432
	84,651	*,e	Diplomat Pharmacy, Inc		2,319
	25,386		Draegerwerk AG.		1,721
	6,726	e	Draegerwerk AG. & Co KGaA		399
	1,019,029	*	Edwards Lifesciences Corp		89,889
	13,300	e	Eiken Chemical Co Ltd		278
	319,558	e	Elekta AB (B Shares)		2,385
	13,694	*,e	EndoChoice Holdings, Inc		71
	174,770	*,e	Endologix, Inc		1,461
	123,469		Ensign Group, Inc		2,795
	14,796	*,e	Entellus Medical, Inc		269
	467,375	*	Envision Healthcare Holdings, Inc		9,534
	541,878		Essilor International S.A.		66,768
	1,246,201	e	Estia Health Ltd		5,481
	30,511	*,e	Evolent Health, Inc		322
	23,759	*	Exactech, Inc		481
	101,127	*	ExamWorks Group, Inc		2,989
	3,907,536	*,n	Express Scripts Holding Co		268,409

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	272,908	e	Extendicare, Inc	$	1,977
	695,321	e	Fagron NV		4,573
	990,020		Fisher & Paykel Healthcare Corp		6,699
	233,325	*	Five Star Quality Care, Inc		534
	61,000		Fleury S.A.		366
	90,355	*	Fortis Healthcare Ltd		239
	225,011		Fresenius Medical Care AG.		19,852
	518,007		Fresenius SE		37,759
	18,200		Fukuda Denshi Co Ltd		955
	8,075		Galenica AG.		12,118
	104,167	*,e	GenMark Diagnostics, Inc		549
	79,356	e	Getinge AB (B Shares)		1,826
	37,000		Ginko International Co Ltd		369
	33,223	*,e	Glaukos Corp		560
	165,075	*	Globus Medical, Inc		3,921
	434,036	e	GN Store Nord		9,062
	1,780,831	e	Golden Meditech Holdings Ltd		244
	63,383	*	Greatbatch, Inc		2,259
	36,700		Green Hospital Supply, Inc		924
	71,462	e	Greencross Ltd		410
	16,345		Guerbet		1,257
	191,877	*	Haemonetics Corp		6,712
	114,520	*	Halyard Health, Inc		3,290
	742,000	*,e,g	Harmonicare Medical Holdings Ltd		527
	205,200		Hartalega Holdings BHD		255
	1,512,184		HCA Holdings, Inc		118,026
	89,484	*	HealthEquity, Inc		2,208
	1,334,630		Healthscope Ltd		2,716
	388,772	e	Healthsouth Corp		14,629
	63,817	*	HealthStream, Inc		1,410
	101,961	*	Healthways, Inc		1,029
	117,929	*,e	HeartWare International, Inc		3,705
	159,552	*	Henry Schein, Inc		27,543
	126,541		Hill-Rom Holdings, Inc		6,365
	313,794	*	HMS Holdings Corp		4,503
	10,700	e	Hogy Medical Co Ltd		574
	1,165,454	*	Hologic, Inc		40,208
	299,736		Hoya Corp		11,393
	361,566		Humana, Inc		66,149
	65,853	*	ICU Medical, Inc		6,855
	159,537	*	Idexx Laboratories, Inc		12,495
	3,554,695		IHH Healthcare BHD		5,977
	88,400	*,e	iKang Healthcare Group, Inc (ADR)		1,932
	24,381	*,e	Imprivata, Inc		308
	193,953	*,e	IMS Health Holdings, Inc		5,149
	8,878		InBody Co Ltd		375
	88,897	*	Inogen Inc		3,999
	48,768	*,e	Inovalon Holdings, Inc		903
	141,710	*	Insulet Corp		4,699
	107,261	*	Integra LifeSciences Holdings Corp		7,225
	5,725		Interojo Co Ltd		193
	225,814	*	Intuitive Surgical, Inc		135,726

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	124,998	e	Invacare Corp	$	1,646
	67,785	*,e	InVivo Therapeutics Holdings Corp		473
	74,094		Ion Beam Applications		3,138
	7,250	*,e	iRadimed Corp		139
	59,044	*	i-SENS Inc		1,870
	864,844	e	Japara Healthcare Ltd		2,027
	256,000		Jeol Ltd		1,298
	43,907	*,e	K2M Group Holdings, Inc		651
	201,662		Kindred Healthcare, Inc		2,491
	30,234		Korian-Medica		890
	886,800		Kossan Rubber Industries		1,375
	369,573		KPJ Healthcare BHD		404
	278,972	*	Laboratory Corp of America Holdings		32,676
	23,686		Landauer, Inc		783
	61,005	*,e	LDR Holding Corp		1,555
	68,709		LeMaitre Vascular, Inc		1,066
	100,067	*	LHC Group, Inc		3,558
	52,059	e	Lifco AB		1,396
	1,051,298	e	Life Healthcare Group Holdings Pte Ltd		2,537
	439,657	*	LifePoint Hospitals, Inc		30,446
	1,584,000	*	Lifetech Scientific Corp		264
	163,578	*,e	LivaNova plc		8,830
	6,802		Lutronic Corp		268
	220,535		M3, Inc		5,546
	118,696	*	Magellan Health Services, Inc		8,063
	17,000	e	Mani, Inc		261
	177,750	*	Masimo Corp		7,437
	608,017		McKesson Corp		95,611
	132,382	e	Medical Facilities Corp		1,607
	20,180		Medicare Group		598
	317,387		Mediceo Paltac Holdings Co Ltd		5,020
	134,677	*	Medidata Solutions, Inc		5,213
	20,755	*	Medipost Co Ltd		1,513
	211,702	*	MEDNAX, Inc		13,680
	4,723,165		Medtronic plc		354,237
	10,100	e	Menicon Co Ltd		339
	103,794		Meridian Bioscience, Inc		2,139
	253,022	*	Merit Medical Systems, Inc		4,678
	1,715,683	e	Metlifecare Ltd		6,219
	137,500		Microlife Corp		382
	447,000	*	Microport Scientific Corp		195
	92,193		Miraca Holdings, Inc		3,785
	141,674	*	Molina Healthcare, Inc		9,137
	18,236		Nagaileben Co Ltd		375
	25,100		Nakanishi, Inc		797
	34,420		National Healthcare Corp		2,144
	29,190	e	National Research Corp		454
	145,444	*	Natus Medical, Inc		5,589
	90,789	*	Neogen Corp		4,571
	2,633,322		Network Healthcare Holdings Ltd		6,435
	4,973		Neuca S.A.		416
	38,782	*,e	Nevro Corp		2,182

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	153,300	e	Nichii Gakkan Co	$	1,060
	61,600		Nihon Kohden Corp		1,530
	53,767		Nikkiso Co Ltd		395
	349,700		Nipro Corp		3,319
	166,194	e	NMC Health plc		2,523
	16,810	e,g	NNIT A.S.		436
	86,759	*,e	Nobilis Health Corp		271
	19,303	*,e	Novocure Ltd		280
	192,869	*	NuVasive, Inc		9,383
	21,127	*	Nuvectra Corp		114
	151,680	*	NxStage Medical, Inc		2,274
	243,719		Odontoprev S.A.		773
	1,387,684		Olympus Corp		53,876
	88,896	*	Omnicell, Inc		2,478
	486,735	*	OraSure Technologies, Inc		3,519
	144,782		Oriola-KD Oyj (B Shares)		713
	26,935	*,e	Orion Health Group Ltd		65
	62,064	e	Orpea		5,162
	80,967	*	Orthofix International NV		3,362
	34,162	*	Osstem Implant Co Ltd		2,352
	151,658	e	Owens & Minor, Inc		6,130
	49,765	*,e	Oxford Immunotec Global plc		493
	15,100	e	Paramount Bed Holdings Co Ltd		552
	142,935		Patterson Cos, Inc		6,651
	10,429	*,e	Penumbra, Inc		480
	189,875		Pharmaniaga BHD		280
	97,085	*	PharMerica Corp		2,147
	309,500		Phoenix Healthcare Group Co Ltd		343
	34,428		Phonak Holding AG.		4,394
	85,000		Pihsiang Machinery Manufacturing Co Ltd		185
	331,607	*	Premier, Inc		11,062
	47,561	*,e	Press Ganey Holdings, Inc		1,431
	1,917,555	e	Primary Health Care Ltd		5,493
	31,546	*	Providence Service Corp		1,611
	240,600		PT Siloam International Hospitals Tbk		132
	534,000	*,e	PW Medtech Group Ltd		119
	243,908		Qualicorp S.A.		1,009
	174,991		Quality Systems, Inc		2,667
	230,409		Quest Diagnostics, Inc		16,463
	72,021	*,e	Quidel Corp		1,243
	86,268	*	RadNet, Inc		417
	210,305	e	Raffles Medical Group Ltd		703
	136,552	e	Ramsay Health Care Ltd		6,411
	19,524	*	RaySearch Laboratories AB		290
	460,483	e	Regis Healthcare Ltd		1,769
	5,976,000		Religare Health Trust		4,350
	399,789	e	Resmed, Inc		23,116
	125,522		Rhoen Klinikum AG.		3,905
	166,000		Rion Co Ltd		2,492
	120,451	*,e	Rockwell Medical, Inc		905
	174,756	*	RTI Biologics, Inc		699
	853,363	e	Ryman Healthcare Ltd		4,924

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	15,309		Sartorius AG.	$	3,893
	10,645		Sartorius Stedim Biotech		4,050
	23,203	*	SeaSpine Holdings Corp		340
	31,014	*,e	Second Sight Medical Products, Inc		150
	283,745		Selcuk Ecza Deposu Ticaret ve Sanayi AS		258
	260,880		Select Medical Holdings Corp		3,081
	16,920		SEWOONMEDICAL Co Ltd		70
	2,214,994	e	Shandong Weigao Group Medical Polymer Co Ltd		1,413
	2,358,862		Shanghai Pharmaceuticals Holding Co Ltd		4,664
	96,979	e	Sienna Senior Living, Inc		1,240
	37,000	*,e	Sientra, Inc		253
	2,711,044		Sigma Pharmaceuticals Ltd		2,203
	1,305,647		Sinopharm Group Co		5,901
	706,182		Smith & Nephew plc		11,619
	1,483,118		Sonic Healthcare Ltd		21,271
	103,254	*,e	Spectranetics Corp		1,499
	272,888	g	Spire Healthcare Group plc		1,405
	720,666		St. Jude Medical, Inc		39,637
	187,000		St. Shine Optical Co Ltd		3,813
	98,726	*,e	Staar Surgical Co		730
	360,118	e	STERIS plc		25,586
	10,075		STRATEC Biomedical AG.		489
	8,776		Straumann Holding AG.		3,021
	703,066		Stryker Corp		75,432
	5,635		Suheung Capsule Co Ltd		227
	1,128,853	e	Summerset Group Holdings Ltd		3,455
	2,857,600		Supermax Corp BHD		1,890
	35,875	*,e	Surgery Partners, Inc		476
	359,371	*	Surgical Care Affiliates, Inc		16,632
	31,445	*	SurModics, Inc		579
	145,180		Suzuken Co Ltd		4,928
	177,998		Sysmex Corp		11,128
	44,315	*,e	Tandem Diabetes Care, Inc		386
	236,848	*,e	Team Health Holdings, Inc		9,903
	22,446	*,e	Teladoc, Inc		215
	30,365		Teleflex, Inc		4,768
	532,730	*,e	Tenet Healthcare Corp		15,412
	174,676		Terumo Corp		6,251
	226,600	e	Toho Pharmaceutical Co Ltd		4,843
	23,800		Tokai Corp (GIFU)		696
	958,700		Top Glove Corp BHD		1,233
	6,888,000	e	Town Health International Medical Group Ltd		1,297
	109,334	*,e	TransEnterix, Inc		465
	115,858	*	Triple-S Management Corp (Class B)		2,880
	35,834	*,e	Trupanion, Inc		353
	22,000	e	Tsuki Corp		288
	335,506	*,e	Unilife Corp		228
	235,604		United Drug plc		1,974
	3,324,834		UnitedHealth Group, Inc		428,571
	119,066		Universal American Corp		850
	6,825,000	e	Universal Health International Group Holding Ltd		749
	558,094		Universal Health Services, Inc (Class B)		69,605

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	200,000	*,e,g	Universal Medical Financial & Technical Advisory Services Co Ltd	$	155
	42,979		US Physical Therapy, Inc		2,137
	8,719		Utah Medical Products, Inc		545
	6,129		Value Added Technologies Co Lt		238
	128,894	*	Varian Medical Systems, Inc		10,314
	49,836	*	Vascular Solutions, Inc		1,621
	386,173	*	VCA Antech, Inc		22,278
	162,380	*,e	Veeva Systems, Inc		4,066
	21,920	*,e	Veracyte, Inc		118
	12,394,500		Vibhavadi Medical Center PCL (Foreign)		958
	5,973		Vieworks Co Ltd		259
	278,330	e	Virtus Health Ltd		1,333
	109,800	e	VITAL KSK Holdings, Inc		866
	61,080	*	Vocera Communications, Inc		779
	309,848	*	WellCare Health Plans, Inc		28,738
	200,989		West Pharmaceutical Services, Inc		13,933
	28,245	*,e	William Demant Holding		2,837
	218,212	*	Wright Medical Group NV		3,622
	12,524		Ypsomed Holding AG.		1,787
	80,428	*,e	Zeltiq Aesthetics, Inc		2,184
	759,125		Zimmer Holdings, Inc		80,945
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		4,381,270
HOUSEHOLD & PERSONAL PRODUCTS - 1.8%
	76,824		Able C&C Co Ltd		1,986
	20,200		Aderans Co Ltd		120
	37,220		Amorepacific Corp		12,587
	10,193		Amorepacific Corp (Preference)		1,967
	12,900		Artnature, Inc		116
	504,803	e	Asaleo Care Ltd		703
	993,326	e	Avon Products, Inc		4,778
	64,021		Bajaj Corp Ltd		373
	764,685		Beiersdorf AG.		68,878
	8,384		Bioland Ltd		167
	114,180	*	Central Garden and Pet Co (Class A)		1,860
	24,000		Chlitina Holding Ltd		206
	157,633		Church & Dwight Co, Inc		14,531
	27,297	*	CKH Food & Health Ltd		67
	331,525		Clorox Co		41,792
	1,179,566		Colgate-Palmolive Co		83,336
	24,008		Coreana Cosmetics Co Ltd		193
	3,813		Cosmax BTI, Inc		171
	41,051		Cosmax, Inc		4,505
	13,339	*	COSON Co Ltd		215
	352,061	e	Coty, Inc		9,798
	870,306		Dabur India Ltd		3,283
	60,600		Dr Ci:Labo Co Ltd		1,242
	11,200	e	Earth Chemical Co Ltd		452
	126,216		Edgewell Personal Care Co		10,164
	136,701		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		160

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	65,325	*,e	Elizabeth Arden, Inc	$	535
	154,618	e	Energizer Holdings, Inc		6,264
	1,287,411		Estee Lauder Cos (Class A)		121,416
	55,500	*,e	Euglena Co Ltd		804
	33,849		Eveready Industries India Ltd		119
	155,000	e	Fancl Corp		2,112
	10,323		Gillette India Ltd		688
	183,163		Godrej Consumer Products Ltd		3,821
	92,000		Grape King Industrial Co		528
	850,286		Hengan International Group Co Ltd		7,406
	45,374		Henkel KGaA		4,449
	272,537		Henkel KGaA (Preference)		29,981
	487,309	*,e	Herbalife Ltd		29,999
	1,305,793		Hindustan Lever Ltd		17,139
	195,565	*	HRG Group, Inc		2,724
	609,616	*	Hypermarcas S.A.		4,768
	9,495	e	Inter Parfums S.A.		248
	46,177		Inter Parfums, Inc		1,427
	346,755		Jyothy Laboratories Ltd		1,526
	985,651		Kao Corp		52,557
	4,190,500		Karex BHD		4,081
	1,270,549		Kimberly-Clark Corp		170,902
	1,720,732		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		4,140
	21,900		Kobayashi Pharmaceutical Co Ltd		1,921
	23,697		Korea Kolmar Co Ltd		1,687
	6,204		Korea Kolmar Holdings Co Ltd		250
	65,500		Kose Corp		6,368
	28,205		LG Household & Health Care Ltd		23,321
	266,000		Lion Corp		2,995
	100,981		L’Oreal S.A.		18,064
	17,179		Mandom Corp		764
	938,053		Marico Ltd		3,460
	46,151		Medifast, Inc		1,393
	321,924	*	Microbio Co Ltd		273
	9,700		Milbon Co Ltd		393
	169,150		Natura Cosmeticos S.A.		1,248
	45,708	e	Natural Health Trends Corp		1,515
	32,703	e	Nature’s Sunshine Products, Inc		314
	14,200		Noevir Holdings Co Ltd		408
	459,217	e	Nu Skin Enterprises, Inc (Class A)		17,565
	31,927	*	Nutraceutical International Corp		777
	11,044		Oil-Dri Corp of America		373
	58,869		Ontex Group NV		1,928
	21,427	e	Orchids Paper Products Co		589
	33,247	*	Oriflame Holding AG.		660
	32,437		Pacific Corp		4,155
	105,300		Pigeon Corp		2,744
	42,200		Pola Orbis Holdings, Inc		3,495
	8,906,246		Procter & Gamble Co		733,073
	8,430,500		PT Industri Jamu Dan Farmasi Sido Muncul Tbk		318
	3,140,891		PT Unilever Indonesia Tbk		10,161
	217,496	e	PZ Cussons plc		943

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,158,611		Reckitt Benckiser Group plc	$	111,756
	48,830	*	Revlon, Inc (Class A)		1,778
	1,033,000	e	Ruinian International Ltd		101
	11,641	*	Sansung Life & Science Co Ltd		350
	280,991		Shiseido Co Ltd		6,260
	74,617	e	Spectrum Brands, Inc		8,154
	1,020,213		Svenska Cellulosa AB (B Shares)		31,821
	296,499		Uni-Charm Corp		6,453
	3,379,325		Unilever NV		151,930
	1,877,197		Unilever plc		84,648
	39,331	*,e	USANA Health Sciences, Inc		4,776
	187,000	e	Vinda International Holdings Ltd		312
	60,347		WD-40 Co		6,518
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,987,296
INSURANCE - 4.0%
	125,133		Admiral Group plc		3,555
	671,810		Aegon NV		3,692
	594,263		Aflac, Inc		37,522
	85,283		Ageas		3,375
	15,793,107		AIA Group Ltd		89,768
	15,582	*	Alleghany Corp		7,732
	752,480		Allianz AG.		122,206
	882,956		Allied World Assurance Co Holdings Ltd		30,850
	1,310,874		Allstate Corp		88,314
	195,150		Alm Brand AS		1,429
	109,719	*	AMBAC Financial Group, Inc		1,734
	279,654		American Equity Investment Life Holding Co		4,698
	318,967		American Financial Group, Inc		22,446
	4,820,066		American International Group, Inc		260,525
	7,619	e	American National Insurance Co		880
	77,164		Amerisafe, Inc		4,054
	3,905,578		AMP Ltd		17,312
	546,055	e	Amtrust Financial Services, Inc		14,132
	68,282		Anadolu Hayat Emeklilik AS		135
	207,131		Anadolu Sigorta		126
	13,200	*,e	Anicom Holdings, Inc		363
	360,788		Aon plc		37,684
	174,905	*	Arch Capital Group Ltd		12,436
	369,620		Argo Group International Holdings Ltd		21,212
	149,430		Arthur J. Gallagher & Co		6,647
	228,116		Aspen Insurance Holdings Ltd		10,881
	2,075,728		Assicurazioni Generali S.p.A.		30,727
	73,680		Assurant, Inc		5,684
	125,674		Assured Guaranty Ltd		3,180
	26,100	*	Atlas Financial Holdings, Inc		473
	11,752,064		Aviva plc		76,734
	17,774		AvivaSA Emeklilik ve Hayat AS.		122
	4,942,671		AXA S.A.		115,899
	177,036		Axis Capital Holdings Ltd		9,818
	4,146		Bajaj Finserv Ltd		107
	35,203	e	Baldwin & Lyons, Inc (Class B)		866

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	41,503		Baloise Holding AG.	$	5,268
	1,082,746		BB Seguridade Participacoes S.A.		8,943
	1,304,953		Beazley plc		6,724
	4,487,966	*	Berkshire Hathaway, Inc (Class B)		636,753
	108,569		Brown & Brown, Inc		3,887
	14,405,129		Cathay Financial Holding Co Ltd		17,235
	156,207		Chesnara plc		738
	1,844,518	*	China Insurance International Holdings Co Ltd		4,062
	9,858,710		China Life Insurance Co Ltd		24,225
	11,116,276		China Life Insurance Co Ltd (Taiwan)		8,556
	4,582,818		China Pacific Insurance Group Co Ltd		17,211
	3,077,257		Chubb Ltd		366,655
	146,150		Cincinnati Financial Corp		9,552
	151,348	*,e	Citizens, Inc (Class A)		1,096
	16,856	*	Clal Insurance		194
	4,371,790		ClearView Wealth Ltd		3,217
	23,024		CNA Financial Corp		741
	447,520		CNP Assurances		6,969
	547,232	e	Conseco, Inc		9,806
	2,099,272		Corp Mapfre S.A.		4,518
	277,625	e	Cover-More Group Ltd		330
	88,788		Crawford & Co (Class B)		575
	1,869,311		Dai-ichi Mutual Life Insurance Co		22,655
	255,679	e	Delta Lloyd NV		1,185
	3,558,515		Direct Line Insurance Group plc		18,875
	393,045		Discovery Holdings Ltd		3,231
	37,824		Donegal Group, Inc (Class A)		544
	147,433		Dongbu Insurance Co Ltd		9,806
	43,007	*,e	eHealth, Inc		404
	34,587		EMC Insurance Group, Inc		887
	108,030		Employers Holdings, Inc		3,040
	73,198		Endurance Specialty Holdings Ltd		4,783
	29,623	*	Enstar Group Ltd		4,816
	48,723	e	Erie Indemnity Co (Class A)		4,531
	570,456		esure Group plc		2,241
	25,204		Euler Hermes S.A.		2,284
	212,043		Everest Re Group Ltd		41,864
	22,518		Fairfax Financial Holdings Ltd		12,606
	24,441	e	FBD Holdings plc		178
	21,948		FBL Financial Group, Inc (Class A)		1,350
	96,876		Federated National Holding Co		1,905
	62,857	e	Fidelity & Guaranty Life		1,649
	272,292		First American Financial Corp		10,377
	472,675		FNF Group		16,024
	2,579,886		Fondiaria-Sai S.p.A		5,958
	43,500		FPC Par Corretora de Seguros S.A.		148
	466,817	*	Genworth Financial, Inc (Class A)		1,274
	229,025		Gjensidige Forsikring BA		3,902
	387,983		Great-West Lifeco, Inc		10,677
	70,845	*	Greenlight Capital Re Ltd (Class A)		1,544
	115,627		Grupo Catalana Occidente S.A.		3,277
	51,981	*	Hallmark Financial Services		598

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	175,697		Hannover Rueckversicherung AG.	$	20,420
	45,167		Hanover Insurance Group, Inc		4,075
	137,363		Hanwha Non-Life Insurance Co Ltd		1,016
	326,159		Harel Insurance Investments & Finances Ltd		1,245
	1,547,430		Hartford Financial Services Group, Inc		71,306
	21,165	e	HCI Group, Inc		705
	18,173		Helvetia Holding AG.		10,385
	275,782		Heritage Insurance Holdings, Inc		4,404
	338,649		Hiscox Ltd		4,706
	103,056		Horace Mann Educators Corp		3,266
	331,067		Hyundai Marine & Fire Insurance Co Ltd		9,616
	13,234		IDI Insurance Co Ltd		677
	26,016	e	Independence Holding Co		414
	185,368		Industrial Alliance Insurance and Financial Services, Inc		5,595
	56,406		Infinity Property & Casualty Corp		4,541
	2,739,526		Insurance Australia Group Ltd		11,700
	221,410		Intact Financial Corp		15,502
	24,331		James River Group Holdings Ltd		785
	226,000	*	Japan Post Holdings Co Ltd		3,023
	1,800		Japan Post Insurance Co Ltd		42
	241,322	e	Just Retirement Group plc		547
	106,936		Kemper Corp		3,162
	641,496		Korea Life Insurance Co Ltd		3,760
	265,563		Korean Reinsurance Co		3,241
	169,887	e	Lancashire Holdings Ltd		1,343
	13,438,616		Legal & General Group plc		45,281
	399,287	e	Liberty Holdings Ltd		3,910
	95,891		LIG Insurance Co Ltd		2,858
	754,370		Lincoln National Corp		29,571
	215,785		Loews Corp		8,256
	46,768	*	Lotte Non-Life Insurance Co Ltd		118
	138,525	e	Maiden Holdings Ltd		1,793
	2,312,946	e	Manulife Financial Corp		32,733
	17,576	*	Markel Corp		15,670
	855,076		Marsh & McLennan Cos, Inc		51,980
	216,520		Max India Ltd		1,124
	216,520	*,m	Max India Ltd (New)		138
	43,304	*,m	Max Ventures & Industries Ltd		7
	333,702	*,e	MBIA, Inc		2,953
	3,728,885		Medibank Pvt Ltd		8,363
	43,030		Menorah Mivtachim Holdings Ltd		361
	635,465		Mercuries & Associates Holding Ltd		410
	2,557,609		Mercuries Life Insurance Co Lt		1,256
	35,076		Mercury General Corp		1,947
	48,277		Meritz Fire & Marine Insurance Co Ltd		675
	7,719,841		Metlife, Inc		339,210
	1,059,120	e	Metropolitan Holdings Ltd		1,781
	916,998		Migdal Insurance Holdings Ltd		636
	69,279		Mirae Asset Life Insurance Co Ltd		297
	1,501,554		Mitsui Sumitomo Insurance Group Holdings, Inc		41,850
	397,900	*	MPHB Capital BHD		151
	93,441		Muenchener Rueckver AG.		18,963

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	238,852		National General Holdings Corp	$	5,157
	35,774	e	National Interstate Corp		1,070
	6,105		National Western Life Group, Inc		1,408
	46,626	*	Navigators Group, Inc		3,911
	957,204		New China Life insurance Co Ltd		3,383
	249,899		NKSJ Holdings, Inc		7,083
	104,309		NN Group NV		3,405
	5,757,922		Old Mutual plc		15,904
	829,043		Old Republic International Corp		15,155
	136,613		OneBeacon Insurance Group Ltd (Class A)		1,739
	322,258		Partnership Assurance Group plc		599
	23,669	*,e	Patriot National, Inc		182
	8,381,805		People’s Insurance Co Group of China Ltd		3,559
	466,561		Phoenix Group Holdings		6,310
	115,900		Phoenix Holdings Ltd		295
	7,065,902	e	PICC Property & Casualty Co Ltd		13,010
	9,372,454		Ping An Insurance Group Co of China Ltd		44,976
	102,604		Porto Seguro S.A.		777
	1,114,293		Power Corp Of Canada		25,705
	516,520	e	Power Financial Corp		12,914
	1,075,831		Powszechny Zaklad Ubezpieczen S.A.		10,238
	139,905	e	Primerica, Inc		6,230
	984,583		Principal Financial Group		38,842
	149,473		ProAssurance Corp		7,563
	773,729		Progressive Corp		27,189
	150,321		Protector Forsikring ASA		1,366
	1,313,435		Prudential Financial, Inc		94,856
	6,319,697		Prudential plc		117,600
	57,256,000	*	PT Panin Insurance Tbk		2,114
	117,257,400	*	PT Panin Life Tbk		1,476
	102,450		Qatar Insurance Co SAQ		2,332
	1,463,057		QBE Insurance Group Ltd		12,226
	226,300	*,e	Qualitas Controladora SAB de C.V.		264
	583,101	e	Rand Merchant Investment Holdings Ltd		1,641
	253,492		Reinsurance Group of America, Inc (Class A)		24,399
	383,612		RenaissanceRe Holdings Ltd		45,968
	105,555		RLI Corp		7,057
	254,229	e	RSA Insurance Group plc		1,733
	35,359		Safety Insurance Group, Inc		2,018
	1,166,654	e	Sampo Oyj (A Shares)		55,258
	38,981		Samsung Fire & Marine Insurance Co Ltd		10,067
	166,487		Samsung Life Insurance Co Ltd		17,127
	2,064,508		Sanlam Ltd		9,565
	423,729		SCOR SE		14,939
	137,449		Selective Insurance Group, Inc		5,032
	7,510,941		Shin Kong Financial Holding Co Ltd		1,508
	136,000		Shinkong Insurance Co Ltd		101
	447,707		Societa Cattolica di Assicurazioni SCRL		3,052
	604,092		Sony Financial Holdings, Inc		7,724
	445,660		St. James’s Place plc		5,860
	2,337,962		Standard Life plc		11,922
	37,195	e	State Auto Financial Corp		821

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	98,786	e	State National Cos, Inc	$	1,245
	624,416	e	Steadfast Group Ltd		857
	93,075	e	Stewart Information Services Corp		3,377
	652,935	*	Storebrand ASA		2,543
	211,733		Sul America SA		945
	852,216		Sun Life Financial, Inc		27,494
	980,154		Suncorp-Metway Ltd		8,943
	14,195		Swiss Life Holding		3,767
	658,141		Swiss Re Ltd		60,772
	781,200		Syarikat Takaful Malaysia BHD		813
	1,936,042		T&D Holdings, Inc		18,085
	137,000		Taiwan Fire & Marine Insurance Co		91
	2,600,200	*	Thai Reinsurance PCL		210
	2,252,950	*,e	Third Point Reinsurance Ltd		25,616
	1,241,768		Tokio Marine Holdings, Inc		41,957
	180,379		Tong Yang Life Insurance		1,866
	58,552	*	Topdanmark AS		1,488
	133,995		Torchmark Corp		7,257
	372,654		Travelers Cos, Inc		43,492
	53,120		Tryg A.S.		1,029
	476,300		Tune Ins Holdings BHD		165
	1,683,479		Unipol Gruppo Finanziario S.p.A		6,802
	205,081		Uniqa Versicherungen AG.		1,439
	34,442	*	United America Indemnity Ltd		1,072
	47,446		United Fire & Casualty Co		2,079
	128,636		United Insurance Holdings Corp		2,471
	79,416	e	Universal Insurance Holdings, Inc		1,414
	322,137		UnumProvident Corp		9,960
	973,768		Validus Holdings Ltd		45,952
	49,614		Vittoria Assicurazioni S.p.A.		482
	678,959		W.R. Berkley Corp		38,158
	7,180		White Mountains Insurance Group Ltd		5,763
	400		Wiener Staedtische Allgemeine Versicherung AG.		8
	7,289		Willis Towers Watson plc		865
	3,052,466		XL Capital Ltd		112,331
	399,329		Zurich Financial Services AG.		92,609
			TOTAL INSURANCE		4,463,001
MATERIALS - 4.6%
	73,551		A. Schulman, Inc		2,002
	21,230		Aarti Industries		165
	133,463	e	Acerinox S.A.		1,542
	325,000		Achilles Corp		416
	35,840		Acron JSC (GDR)		194
	46,912		Adana Cimento		117
	70,100		ADEKA Corp		1,021
	1,316,926		Adelaide Brighton Ltd		5,111
	242,791		Aeci Ltd		1,496
	23,758		AEP Industries, Inc		1,568
	132,470		African Barrick Gold Ltd		534
	151,429	e	African Oxygen Ltd		183
	100,489	e	African Rainbow Minerals Ltd		646

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	337,638		Agnico-Eagle Mines Ltd	$	12,216
	376,299	e	Agrium, Inc		33,224
	355,000	*	Aichi Steel Corp		1,388
	190,604		Air Liquide		21,384
	210,537		Air Products & Chemicals, Inc		30,328
	124,422	e	Air Water, Inc		1,844
	41,199		Airgas, Inc		5,835
	3,729		AK Holdings, Inc		183
	633,278	*,e	AK Steel Holding Corp		2,615
	69,871		Akcansa Cimento AS		357
	9,420		Akzo Nobel India Ltd		194
	383,876		Akzo Nobel NV		26,168
	223,498		Alamos Gold, Inc		1,184
	2,273,639		Albemarle Corp		145,354
	3,423,032	e	Alcoa, Inc		32,793
	308,794	e	Allegheny Technologies, Inc		5,033
	1,520,000	e	Alpek SAB de C.V.		2,397
	33,277	e	Altius Minerals Corp		297
	657,273		Altri SGPS S.A.		2,862
	1,780,318	e	Alumina Ltd		1,771
	5,117,171	*,e	Aluminum Corp of China Ltd		1,629
	1,075,119		Ambuja Cements Ltd		3,774
	2,507,487		Amcor Ltd		27,535
	71,978	e	American Vanguard Corp		1,136
	4,839,000		AMVIG Holdings Ltd		2,021
	108,585		Anadolu Cam Sanayii AS		76
	871,466	*	Anatolia Minerals Development Ltd		1,577
	71,294	*,e	Anglo American Platinum Ltd		1,743
	214,491	*	Anglo American plc		1,672
	2,693,399		Anglo American plc (London)		21,236
	941,028	*	AngloGold Ashanti Ltd		13,026
	1,536,291		Anhui Conch Cement Co Ltd		4,122
	300,474	e	Antofagasta plc		2,019
	73,030	*	APERAM		2,782
	66,157		Aptargroup, Inc		5,187
	220,660		Arabian Cement Co		190
	3,267,196	e	ArcelorMittal		14,740
	231,027		Arkema		17,308
	38,474	e	Asahi Holdings, Inc		518
	1,832,238		Asahi Kasei Corp		12,374
	184,541	*,e	Asanko Gold, Inc		392
	100,476		Ashland, Inc		11,048
	1,302,000		Asia Cement China Holdings Corp		262
	1,164		Asia Cement Co Ltd		96
	5,170,495		Asia Cement Corp		4,724
	786		Asia Holdings Co Ltd		73
	273,125		Asia Polymer		154
	443,583		Asian Paints Ltd		5,816
	47,544		Associated Cement Co Ltd		992
	149,579	e	Assore Ltd		1,629
	7,302		Atul Ltd		169
	145,975		Aurubis AG.		7,254

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	338,852		Avery Dennison Corp	$	24,435
	113,619	*	Axalta Coating Systems Ltd		3,318
	3,349,472		Axiall Corp		73,152
	867,215	*	B2Gold Corp		1,442
	75,746		Balchem Corp		4,698
	140,108		Ball Corp		9,988
	469,798		Barrick Gold Corp		6,380
	1,508,198		Barrick Gold Corp (Canada)		20,485
	8,644		BASF India Ltd		114
	671,634		BASF SE		50,504
	15,767		Bayer CropScience Ltd		903
	6,000,000		BBMG Corp		4,643
	148,967	e	Bekaert S.A.		6,044
	367,211		Bemis Co, Inc		19,014
	2,295,200		Bengang Steel Plates Co		772
	256,218		Berger Paints India Ltd		947
	5,202,438	*	Berry Plastics Group, Inc		188,068
	3,932,827		BHP Billiton Ltd		50,819
	3,654,801		BHP Billiton plc		40,928
	864,142		Billerud AB		14,107
	1,210,360		BlueScope Steel Ltd		5,724
	220,182	*	Boise Cascade Co		4,562
	989,606		Boliden AB		15,786
	2,145,498		Boral Ltd		10,148
	244,182	e	Borregaard ASA		1,636
	35,346		Borusan Mannesmann Boru Sanayi		82
	222,391		Boryszew S.A.		298
	35,423		BRAAS Monier Building Group S.A.		953
	221,500		Bradespar S.A.		377
	433,096		Braskem S.A.		2,820
	52,667		Brickworks Ltd		639
	55,922		Buzzi Unicem S.p.A.		964
	125,360		Buzzi Unicem S.p.A. RSP		1,319
	5,200	e	C Uyemura & Co Ltd		220
	299,330	e	Cabot Corp		14,467
	131,089		Calgon Carbon Corp		1,838
	96,802		Canam Group, Inc		956
	97,705	*	Canfor Corp		1,343
	76,923		Canfor Pulp Products, Inc		710
	73,144		CAP S.A.		216
	115,886	e	Carpenter Technology Corp		3,967
	212,565		Cascades, Inc		1,403
	112,655		CCL Industries		21,382
	212,506		Celanese Corp (Series A)		13,919
	41,458		Cementir S.p.A.		207
	435,495		Cementos Argos S.A.		1,687
	146,867	*	Cemex Latam Holdings S.A.		631
	26,812,021	*,e	Cemex S.A. de C.V.		19,476
	2,941,362		Centamin plc		3,729
	671,004		Centerra Gold, Inc		3,115
	229,008	*,e	Century Aluminum Co		1,614
	44,728		Century Plyboards India Ltd		115

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,588,125		Century Sunshine Ecological Technology Holdings Ltd	$	87
	17,630		Century Textile & Industries Ltd		141
	568,037		CF Industries Holdings, Inc		17,802
	18,113		Chase Corp		953
	144,244		Chemours Co		1,010
	223,327	*	Chemtura		5,896
	707,560		Cheng Loong Corp		255
	475,925		Chia Hsin Cement Corp		140
	1,676,695		China BlueChemical Ltd		425
	4,680,000	*	China Daye Non-Ferrous Metals Mining Ltd		84
	147,000		China Hi-ment Corp		296
	885,000	*	China Manmade Fibers Corp		224
	659,372		China Metal Products		607
	1,329,340	*,e,m	China Metal Recycling Holdings Ltd		2
	13,985,248	e	China National Building Material Co Ltd		6,492
	1,179,000	e	China National Materials Co Ltd		231
	2,067,628	*	China Petrochemical Development Corp		520
	1,537,200	*,e	China Rare Earth Holdings Ltd		105
	547,000	*,e	China Sanjiang Fine Chemicals		96
	6,683,200	*,e,m	China Shanshui Cement Group Ltd		4,064
	652,000	e	China Silver Group Ltd		151
	126,000		China Steel Chemical Corp		444
	12,869,442		China Steel Corp		8,950
	1,132,190		China Synthetic Rubber Corp		858
	538,000	*	Chongqing Iron & Steel Co Ltd		72
	228,859		Christian Hansen Holding		15,348
	204,000		Chugoku Marine Paints Ltd		1,345
	815,720	*	Chung Hung Steel Corp		146
	325,540		Chung Hwa Pulp Corp		101
	477,545		Cia de Minas Buenaventura S.A. (ADR) (Series B)		3,515
	619,968		Cia Siderurgica Nacional S.A.		1,233
	79,965		Ciech S.A.		1,501
	155,505		Cimsa Cimento Sanayi Ve Tica		869
	962,000	*	Citic Dameng Holdings		58
	471,809		Clariant AG.		8,535
	68,031	*	Clearwater Paper Corp		3,300
	1,297,600	*,e	Cliffs Natural Resources, Inc		3,893
	902,149	*,e	Coeur Mining, Inc		5,070
	325,912		Commercial Metals Co		5,531
	86,132	*,m	Companhia Vale do Rio Doce		0
	30,577	e	Compass Minerals International, Inc		2,167
	112,633		Corbion NV		2,672
	21,416	*	Core Molding Technologies, Inc		267
	115,082		Coromandel International Ltd		331
	440,000	e	CPMC Holdings Ltd		218
	2,108,168		CRH plc		59,541
	855,226		Croda International plc		37,239
	963,043	*	Crown Holdings, Inc		47,757
	484,104		CSR Ltd		1,221
	173,780	*,e,m	Cudeco Ltd		147
	7,656,900		D&L Industries Inc		1,598
	502,000		Da Ming International Holdings Ltd		145

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	508,007		Daicel Chemical Industries Ltd	$	6,925
	245,000	e	Daido Steel Co Ltd		848
	219,000		Daiken Corp		611
	213,857		Dainichiseika Color & Chemicals Manufacturing Co Ltd		856
	2,132,845		Dainippon Ink and Chemicals, Inc		5,093
	64,172	e	Daio Paper Corp		540
	184,000	e	Daiso Co Ltd		672
	19,796		Dalmia Bharat Ltd		239
	221,200	*	Danhua Chemical Technology Co Ltd		136
	20,229		DC Chemical Co Ltd		1,878
	26,670	e	Deltic Timber Corp		1,604
	1,476,000		Denki Kagaku Kogyo KK		6,068
	179,845	*	Detour Gold Corp		2,832
	10,699		Dhanuka Agritech Ltd		95
	282,240		Dominion Diamond Corp		3,129
	322,370		Domtar Corp		13,056
	48,784	*	Dongkuk Steel Mill Co Ltd		293
	687,000	e	Dongpeng Holdings Co Ltd		375
	2,946,000		Dongyue Group		521
	6,657,828		Dow Chemical Co		338,617
	334,000	e	Dowa Holdings Co Ltd		1,858
	1,098,300		DS Smith plc		6,425
	45,878		DSM NV		2,522
	334,368		DuluxGroup Ltd		1,607
	11,344	*,m	Duratex S.A. (ADR)		24
	84,368		Eagle Materials, Inc		5,915
	732,000		Eastern Polymer Group PCL		279
	450,767		Eastman Chemical Co		32,559
	201,875		Ecolab, Inc		22,513
	1,349,110		EI du Pont de Nemours & Co		85,426
	104,458		EID Parry India Ltd		343
	173,644	*	El Ezz Steel Co		181
	1,162,150		Eldorado Gold Corp		3,651
	1,339,742		Elementis plc		4,607
	2,492,848		Empresas CMPC S.A.		5,817
	34,669		EMS-Chemie Holding AG.		17,952
	135,914		Ence Energia y Celulosa S.A.		457
	564,300		Engro Chemical Pakistan Ltd		1,701
	4,766	*,e	Eramet		133
	2,044,222		Eregli Demir ve Celik Fabrikalari TAS		3,077
	1,346,245		Essentra plc		15,983
	1,503,880		Eternal Chemical Co Ltd		1,536
	35,500		Eugene Corp		143
	363,932		Everlight Chemical Industrial Corp		229
	1,866,538	e	Evolution Mining Ltd		2,147
	240,655	*,e	Evolva Holdings S.A.		185
	436,076		Evonik Industries AG.		13,042
	308,754		Evraz plc		398
	390,050		Feng Hsin Iron & Steel Co		509
	543,254		Ferrexpo plc		217
	251,006	*	Ferro Corp		2,979
	314,107		Ferroglobe plc		2,767

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	254,852		Fibria Celulose S.A.	$	2,150
	29,982		Finolex Industries Ltd		165
	132,105	*,e	First Majestic Silver Corp		856
	509,105	e	First Quantum Minerals Ltd		2,681
	4,690,290		Fletcher Building Ltd		25,567
	135,232	*,e	Flotek Industries, Inc		991
	73,574	e	FMC Corp		2,970
	52,978	*	Foosung Co Ltd		203
	3,750,690		Formosa Chemicals & Fibre Corp		9,344
	4,762,701		Formosa Plastics Corp		11,810
	382,000		Formosan Rubber Group, Inc		209
	7,152,584	e	Fortescue Metals Group Ltd		13,914
	113,060	*	Fortuna Silver Mines, Inc		440
	169,791	m	Foshan Huaxin Packaging Co Ltd		208
	43,500	e	FP Corp		1,859
	322,664		Franco-Nevada Corp		19,816
	2,610,566	e	Freeport-McMoRan Copper & Gold, Inc (Class B)		26,993
	157,669		Fresnillo plc		2,153
	32,746		Frutarom Industries Ltd		1,717
	151,446		Fuchs Petrolub AG. (Preference)		6,748
	2,732,200	e	Fufeng Group Ltd		872
	16,152	e	Fuji Seal International, Inc		572
	14,200		Fujimi, Inc		189
	42,600		Fujimori Kogyo Co Ltd		1,001
	1,460,000	e	Furukawa-Sky Aluminum Corp		2,959
	2,233,800	e	Fushan International Energy Group Ltd		283
	59,189		FutureFuel Corp		698
	1,032,418	*	GCP Applied Technologies, Inc		20,586
	99,357		Gem Diamonds Ltd		157
	878,107		Gerdau S.A. (Preference)		1,592
	12,166		Givaudan S.A.		23,843
	776,355	*	Gleichen Resources Ltd		1,088
	11,078,980		Glencore Xstrata plc		24,911
	1,394,192		Gloria Material Technology Corp		776
	655,000		Godo Steel Ltd		1,100
	89,145		Godrej Industries Ltd		478
	1,364,979		Gold Fields Ltd		5,396
	1,002,928		Goldcorp, Inc		16,271
	8,626,418		Goldsun Development & Construction Co Ltd		2,528
	821,000		Grand Pacific Petrochemical		441
	202,091		Granges AB		1,754
	1,593,276		Graphic Packaging Holding Co		20,474
	605,755	*,m	Great Basin Gold Ltd		5
	149,000		Great China Metal Industry		129
	947,000		Greatview Aseptic Packaging Co		450
	29,000		Green Seal Holding Ltd		114
	75,826		Greif, Inc (Class A)		2,483
	83,138,560		G-Resources Group Ltd		1,646
	535,694		Grupo Argos S.A.		3,581
	6,765,426		Grupo Mexico S.A. de C.V. (Series B)		16,309
	85,900	*,e	Grupo Simec SAB de C.V.		235
	85,757		Gubre Fabrikalari TAS		185

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	33,234		Gujarat Flourochemicals	$	259
	142,417	*	Guyana Goldfields, Inc		497
	125,236		H.B. Fuller Co		5,316
	29,222		Han Kuk Carbon Co Ltd		182
	11,312	*	Handy & Harman Ltd		309
	11,812		Hanil Cement Manufacturing		960
	7,874		Hansol Chemical Co Ltd		470
	33,437	*	Hansol Paper Co		234
	11,634		Hansol Paper Co Ltd		224
	125,802		Hanwha Chemical Corp		2,749
	813,107	*	Harmony Gold Mining Co Ltd		2,922
	25,939	e	Hawkins, Inc		936
	45,530		Haynes International, Inc		1,662
	244,174	*	Headwaters, Inc		4,844
	901,059	e	Hecla Mining Co		2,505
	54,276		HeidelbergCement AG.		4,638
	212,241		Hexpol AB		2,355
	1,091,983		Hindalco Industries Ltd		1,447
	240,282		Hitachi Chemical Co Ltd		4,318
	101,134		Hitachi Metals Ltd		1,043
	728,837	*	Ho Tung Chemical Corp		169
	225,566	*,e	Hochschild Mining plc		298
	104,429	e	Hokuetsu Paper Mills Ltd		621
	151,581		Holcim Ltd		7,118
	42,698		Holmen AB (B Shares)		1,397
	58,149		Honam Petrochemical Corp		17,391
	282,970		HS Industries Co Ltd		1,739
	29,649		HSIL Ltd		125
	1,891,000		Huabao International Holdings Ltd		714
	231,420		Huaxin Cement Co Ltd		169
	570,300	m	Hubei Sanonda Co Ltd		501
	20,690		Huchems Fine Chemical Corp		348
	194,065		HudBay Minerals, Inc		711
	201,285		Huhtamaki Oyj		7,463
	485,885		Huntsman Corp		6,462
	26,540		Hyosung Corp		3,340
	131,840		Hyundai Steel Co		6,406
	351,194	*	IAMGOLD Corp		773
	27,000	e	Ihara Chemical Industry Co Ltd		348
	467,825		Iluka Resources Ltd		2,346
	61,072		IMCD Group NV		2,282
	9,021		Imerys S.A.		628
	813,020	*,e	Impala Platinum Holdings Ltd		2,581
	62,273	*,e	Imperial Metals Corp		200
	3,888,718		Incitec Pivot Ltd		9,491
	355,872	e	Independence Group NL		769
	143,698	*	India Cements Ltd		187
	1,303,778		Indorama Ventures PCL (Foreign)		844
	131,800	*,e	Industrias CH SAB de C.V.		489
	160,575		Industrias Penoles S.A. de C.V.		2,019
	384,620		Inner Mongolia Eerduosi Resourses Co Ltd		353
	123,061		Innophos Holdings, Inc		3,804

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	94,121		Innospec, Inc	$	4,081
	62,025	*	Interfor Corp		686
	106,203		International Flavors & Fragrances, Inc		12,083
	555,538		International Paper Co		22,799
	137,291		Intertape Polymer Group, Inc		1,967
	143,334	*,e	Intrepid Potash, Inc		159
	419,000	*	Ishihara Sangyo Kaisha Ltd		286
	643,040		Israel Chemicals Ltd		2,792
	3,290		Israel Corp Ltd		552
	164,994		Italcementi S.p.A.		1,934
	8,779	e	Italmobiliare S.p.A.		393
	23,011		Italmobiliare S.p.A. RSP		716
	540,300	*	Ivanhoe Mines Ltd		349
	31,459	*,m	Jacana Minerals Ltd		5
	645,939		James Hardie Industries NV		8,843
	55,941	*	Jastrzebska Spolka Weglowa S.A.		206
	332,100		Jaya Tiasa Holdings BHD		128
	522,446		JFE Holdings, Inc		7,017
	1,742,230		Jiangxi Copper Co Ltd		2,088
	109,740		Jindal Saw Ltd		64
	321,291		Jindal Steel & Power Ltd		292
	339,752	*,e	Jinshan Gold Mines, Inc		568
	16,154		JK Cement Ltd		165
	27,652		JK Lakshmi Cement Ltd		142
	196,891		Johnson Matthey plc		7,740
	10,900		JSP Corp		217
	270,965		JSR Corp		3,896
	87,084		JSW Steel Ltd		1,686
	83,875	e	K&S AG.		1,956
	89,453		Kaiser Aluminum Corp		7,562
	468,638		Kaneka Corp		4,013
	221,165		Kansai Nerolac Paints Ltd		937
	323,024		Kansai Paint Co Ltd		5,185
	43,000	e	Kanto Denka Kogyo Co Ltd		306
	283,609		Kapstone Paper and Packaging Corp		3,928
	108,553		Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class A)		64
	657,106		Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		336
	278,816	*,e	KAZ Minerals plc		680
	86,736	e	Kemira Oyj		967
	267,003		KGHM Polska Miedz S.A.		5,435
	2,656,015	*	Kinross Gold Corp		9,060
	378,724	*	Kirkland Lake Gold, Inc		2,441
	18,729		KISCO Corp		743
	5,136		KISWIRE Ltd		200
	588,468		Klabin S.A.		3,170
	2,552,700		Klabin S.A. (Preference)		2,187
	22,415	e	KMG Chemicals, Inc		517
	1,368,000	*	Ko Yo Chemical Group Ltd		63
	41,000		Koatsu Gas Kogyo Co Ltd		233
	2,607,798		Kobe Steel Ltd		2,292

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	15,029		Kolon Industries, Inc	$	952
	24,800		Konishi Co Ltd		309
	1,031		Konya Cimento Sanayii		121
	136,436	*	Koppers Holdings, Inc		3,066
	14,857		Korea Kumho Petrochemical		758
	20,722		Korea Petrochemical Ind Co Ltd		4,652
	10,353		Korea Zinc Co Ltd		4,363
	359,853		Koza Altin Isletmeleri AS		2,308
	155,458	*	Koza Anadolu Metal Madencilik Isletmeleri AS		71
	199,906	*	Kraton Polymers LLC		3,458
	58,032	e	Kronos Worldwide, Inc		332
	974,000	*,e	KuangChi Science Ltd		410
	15,912		Kukdo Chemical Co Ltd		947
	43,900	e	Kumiai Chemical Industry Co Ltd		393
	1,937		Kumkang Kind Co Ltd		77
	115,389		Kuraray Co Ltd		1,410
	118,000	e	Kureha CORP		374
	335,000		Kurimoto Ltd		458
	98,600		Kyoei Steel Ltd		1,480
	232,071	e	Labrador Iron Ore Royalty Corp		2,100
	446,420		Lafarge Malayan Cement BHD		1,030
	551	*	LafargeHolcim Ltd		26
	1,396,100	*	Lake Shore Gold Corp		2,032
	603,479		Lanxess AG.		28,923
	5,227,000	e	Lee & Man Paper Manufacturing Ltd		3,576
	2,476,448	*	LEE Chang Yung Chem IND Corp		2,561
	13,176		Lenzing AG.		1,043
	69,613		LG Chem Ltd		19,978
	9,286		LG Chem Ltd (Preference)		1,849
	413,709		Linde AG.		60,111
	35,000		Lintec Corp		625
	6,177		Lion Chemtech Co Ltd		87
	18,611		Lock & Lock Co Ltd		234
	1,373,901		Long Chen Paper Co Ltd		549
	334	*	Lonmin plc		1
	4,774,445	*,e	Louisiana-Pacific Corp		81,738
	51,978	*,e	LSB Industries, Inc		663
	923,355		Lucara Diamond Corp		1,962
	476,000		Luks Group Vietnam Holdings Ltd		160
	555,732	*	Lundin Mining Corp		1,750
	909,202	n	LyondellBasell Industries AF S.C.A		77,809
	87,157		Madras Cements Ltd		526
	51,331	*	MAG. Silver Corp		485
	32,260	*	Magnesita Refratarios S.A.		125
	70,878	e	Major Drilling Group International		344
	1,471,500		Maple Leaf Cement Factory Ltd		1,296
	54,258		Martin Marietta Materials, Inc		8,655
	81,572		Maruichi Steel Tube Ltd		2,234
	58,921		Materion Corp		1,560
	199,842		Metals X Ltd		143
	579,800		Metalurgica Gerdau S.A.		392
	160,494		Methanex Corp		5,158

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,244,884		Mexichem SAB de C.V.	$	3,050
	851,200	e	Midas Holdings Ltd		177
	978,500	*,e	Minera Frisco SAB de C.V.		639
	146,751		Minerals Technologies, Inc		8,343
	16,144	e	Miquel y Costas & Miquel S.A.		707
	1,595,265		Mitsubishi Chemical Holdings Corp		8,329
	1,697,158	e	Mitsubishi Gas Chemical Co, Inc		9,115
	2,850,693		Mitsubishi Materials Corp		8,043
	883,000	*	Mitsubishi Paper Mills Ltd		628
	405,000		Mitsubishi Steel Manufacturing Co Ltd		655
	1,282,066		Mitsui Chemicals, Inc		4,268
	492,000		Mitsui Mining & Smelting Co Ltd		785
	722,808		MMC Norilsk Nickel PJSC (ADR)		9,315
	1,468,000	e	MMG Ltd		327
	66,841		MOIL Ltd		220
	127,975		Mondi Ltd		2,463
	995,787		Mondi plc		19,043
	12,981	*,m	Mongolian Metals Corporation		0
	1,303,394		Monsanto Co		114,360
	4,158		Monsanto India Ltd		104
	341,051		Mosaic Co		9,208
	306,887		Mpact Ltd		1,076
	1,483,560		M-real Oyj (B Shares)		9,917
	1,214,156	*	Multi Packaging Solutions International Ltd		19,706
	63,086		Myers Industries, Inc		811
	75,761		Mytilineos Holdings S.A.		296
	531,194	*,m	Nagarjuna Fertilizers & Chemicals		63
	467,000	*	Nakayama Steel Works Ltd		290
	22,789		Namhae Chemical Corp		194
	556,609		Nampak Ltd		801
	5,506,286		Nan Ya Plastics Corp		11,573
	221,910		Nantex Industry Co Ltd		185
	92,082		Neenah Paper, Inc		5,862
	24,900	e	Neturen Co Ltd		169
	433,098	e	Nevsun Resources Ltd		1,401
	681,079	*	New Gold, Inc		2,543
	1,267,913	*,e	Newcrest Mining Ltd		16,408
	41,310		NewMarket Corp		16,369
	1,922,367		Newmont Mining Corp		51,097
	5,740,250		Nickel Asia Corp		654
	38,600	e	Nihon Nohyaku Co Ltd		195
	71,900		Nihon Parkerizing Co Ltd		650
	2,210,184		Nine Dragons Paper Holdings Ltd		1,674
	94,700	*,e	Nippon Denko Co Ltd		151
	183,000	e	Nippon Kayaku Co Ltd		1,847
	1,273,600	e	Nippon Light Metal Holdings Co Ltd		2,092
	110,732	e	Nippon Paint Co Ltd		2,449
	374,000	e	Nippon Paper Industries Co Ltd		6,652
	58,100		Nippon Shokubai Co Ltd		2,960
	344,000		Nippon Soda Co Ltd		1,727
	964,454		Nippon Steel Corp		18,490
	60,810		Nippon Synthetic Chemical Industry Co Ltd		385

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	125,100	*,e	Nippon Yakin Kogyo Co Ltd	$	146
	128,900		Nissan Chemical Industries Ltd		3,314
	140,200	e	Nisshin Steel Holdings Co Ltd		1,634
	148,000		Nittetsu Mining Co Ltd		552
	235,163	e	Nitto Denko Corp		13,104
	140,921		NOF Corp		998
	42,329		Norbord, Inc		842
	2,512,531		Norsk Hydro ASA		10,323
	10,710,000	*,e	North Mining Shares Co Ltd		120
	729,221	*	Northam Platinum Ltd		2,076
	463,882		Northern Star Resources Ltd		1,210
	376,369	*,e	Novagold Resources, Inc		1,907
	13,676		Novolipetsk Steel (GDR)		171
	52,300		Novozymes AS		2,349
	1,093,838		Nucor Corp		51,739
	837,422		Nufarm Ltd		4,810
	491,269		Nuplex Industries Ltd		1,765
	685,074	*,e	Nyrstar		529
	86,450	*,m	Nyrstar (Strip VVPR)		0
	156,000	*	Ocean Plastics Co Ltd		130
	1,650,447		OceanaGold Corp		4,537
	71,408	*,e	OCI NV		1,395
	21,387		Oeneo S.A.		170
	673,143		OJI Paper Co Ltd		2,704
	81,000	e	Okamoto Industries, Inc		682
	8,965,548	a	Olin Corp		155,732
	41,172	e	Olympic Steel, Inc		713
	56,275		Omnia Holdings Ltd		519
	139,100	*	Omnova Solutions, Inc		773
	484,564	e	Orica Ltd		5,699
	42,181		Orient Cement Ltd		97
	478,000		Oriental Union Chemical Corp		302
	3,424,705		Orora Ltd		6,555
	28,500		Osaka Steel Co Ltd		466
	90,046		Osisko Gold Royalties Ltd		962
	254,922	*,e	Outokumpu Oyj		991
	920,000		Overseas Chinese Town Asia Holdings Ltd		351
	376,533	*	Owens-Illinois, Inc		6,009
	1,221,978		Oxiana Ltd		4,679
	129,507	e	Pacific Metals Co Ltd		379
	12,700		Pack Corp		305
	430,591		Packaging Corp of America		26,008
	157,015		Pact Group Holdings Ltd		600
	147,621		Pan American Silver Corp		1,605
	103,814	e	Papeles y Cartones de Europa S.A.		660
	3,645,877	*	Petkim Petrokimya Holding		5,164
	1,365,611		Petra Diamonds Ltd		2,064
	6,721,763		Petronas Chemicals Group BHD		11,560
	182,478		PH Glatfelter Co		3,783
	221,899	e	PhosAgro OAO (ADR)		3,129
	81,928		PI Industries Ltd		704
	264,041	*,m	Pike River Coal Ltd		0

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	242,400	*,e	Platform Specialty Products Corp	$	2,085
	218,806		PolyOne Corp		6,619
	7,450		Poongsan		281
	97,513		Poongsan Corp		2,528
	719,425		Portucel Empresa Produtora de Pasta e Papel S.A.		2,615
	123,686		POSCO		23,594
	18,440		POSCO Refractories & Environment Co Ltd		181
	1,609,260		Potash Corp of Saskatchewan		27,396
	1,502,542	e	PPC Ltd		1,241
	1,646,097		PPG Industries, Inc		183,523
	186,285		Praxair, Inc		21,320
	435,179	*,e	Premier Gold Mines Ltd		1,039
	417,100		Press Metal BHD		283
	92,386	*,e	Pretium Resources, Inc		496
	145,095	*	Primero Mining Corp		264
	124,747	*	Prism Cement Ltd		152
	7,742,304	*	PT Aneka Tambang Tbk		271
	12,334,800	*	PT Hanson International Tbk		749
	1,677,200		PT Holcim Indonesia Tbk		135
	3,593,820		PT Indocement Tunggal Prakarsa Tbk		5,344
	3,848,800	*	PT Krakatau Steel Tbk		138
	8,218,300	*,m	PT Sekawan Intipratama Tbk		26
	3,514,189		PT Semen Gresik Persero Tbk		2,693
	2,661,657		PT Timah Tbk		148
	2,160,100		PT Wijaya Karya Beton Tbk		163
	6,199,826		PTT Global Chemical PCL (Foreign)		10,645
	24,764		Qatar National Cement Co		592
	27,878		Qatari Investors Group		455
	32,910		Quaker Chemical Corp		2,793
	47,707		Rallis India Ltd		122
	123,011	e	Randgold Resources Ltd		11,192
	9,550		Ratnamani Metals & Tubes Ltd		67
	99,861		Rayonier Advanced Materials, Inc		949
	60,810	*,e	Real Industry, Inc		529
	1,323,298	e	Regis Resources Ltd		2,453
	367,361		Reliance Steel & Aluminum Co		25,418
	649,767		Rengo Co Ltd		3,279
	62,560	*,e	Rentech, Inc		139
	63,260	*	Resolute Forest Products		349
	647,519		Rexam plc		5,886
	25,548		RHI AG.		499
	343,538		Rio Tinto Ltd		11,186
	1,575,805		Rio Tinto plc		44,171
	72,007	*,e	Royal Bafokeng Platinum Ltd		187
	153,860		Royal Gold, Inc		7,891
	296,629		RPC Group plc		3,231
	130,615		RPM International, Inc		6,182
	38,169	*,e	Ryerson Holding Corp		212
	15,185	e	Sa des Ciments Vicat		985
	78,000		Sakai Chemical Industry Co Ltd		214
	32,600		Sakata INX Corp		355
	149,211	e	Salzgitter AG.		4,216

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,716		Sam Kwang Glass Ind Co Ltd	$	218
	16,538		Samsung Fine Chemicals Co Ltd		589
	365,681		San Fang Chemical Industry Co Ltd		447
	131,618		Sandfire Resources NL		574
	117,664	*,e	Sandstorm Gold Ltd		385
	190,000		Sanyo Chemical Industries Ltd		1,341
	690,000		Sanyo Special Steel Co Ltd		3,143
	1,452,328	*	Sappi Ltd		6,425
	326,194		Satipel Industrial S.A.		687
	127,942		Scapa Group plc		395
	467,394	*	Schmolz + Bickenbach AG.		345
	87,403		Schnitzer Steel Industries, Inc (Class A)		1,612
	173,701		Schweitzer-Mauduit International, Inc		5,468
	153,300		Scientex BHD		509
	232,024		Scotts Miracle-Gro Co (Class A)		16,884
	37,285	*,e	Seabridge Gold, Inc		408
	61,053		Seah Besteel Corp		1,470
	1,091		SeAH Holdings Corp		139
	17,648		SeAH Steel Corp		1,067
	1,098,000		Sealed Air Corp		52,715
	1,704,000		Sekisui Plastics Co Ltd		5,158
	832,774	*	SEMAFO, Inc		2,969
	25,373		Semapa-Sociedade de Investimento e Gestao		335
	113,184	*,e	Senomyx, Inc		294
	113,307		Sensient Technologies Corp		7,190
	1,619,464		Sesa Sterlite Ltd		2,190
	587,533		Severstal (GDR)		6,207
	1,564,000		Shandong Chenming Paper Holdings Ltd		1,167
	2,740,029		Shandong Chenming Paper Holdings Ltd (Class B)		2,004
	386,700		Shanghai Chlor-Alkali Chemical Co Ltd		315
	161,987		Shanghai Yaohua Pilkington Glass Co Ltd		106
	18,464		Sharda Cropchem Ltd		65
	520,000		Sheen Tai Holdings Grp Co Ltd		75
	258,488		Sherwin-Williams Co		73,584
	199,000	*	Shihlin Paper Corp		203
	31,000		Shikoku Chemicals Corp		269
	12,878	*	Shine Co Ltd		244
	540,337		Shin-Etsu Chemical Co Ltd		27,907
	89,400		Shin-Etsu Polymer Co Ltd		479
	2,465,032		Shinkong Synthetic Fibers Corp		696
	4,758,000	*,e	Shougang Concord International Enterprises Co Ltd		130
	1,286,000	e	Showa Denko KK		1,327
	7,409		Shree Cement Ltd		1,389
	768,516		Siam Cement PCL (Foreign)		10,215
	1,373,338		Sibanye Gold Ltd		5,276
	298,851		Sidi Kerir Petrochemcials Co		426
	2,470		Sika AG.		9,778
	107,733		Silgan Holdings, Inc		5,728
	79,591	*,e	Silver Standard Resources, Inc		443
	575,500	e	Silver Wheaton Corp		9,549
	152,309	e	Sims Group Ltd		1,008
	6,360,000	e	Sinofert Holdings Ltd		889

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	4,770,798	*	Sinopec Shanghai Petrochemical Co Ltd	$	2,422
	1,638,713	*	Sirius Minerals plc		347
	27,508		SK Chemicals Co Ltd		1,924
	101,693		SKC Co Ltd		2,828
	12,081		SKCKOLONPI, Inc		108
	734,470		Smurfit Kappa Group plc		18,893
	377,146		Sociedad Quimica y Minera de Chile S.A. (ADR)		7,750
	113,522		Sociedad Quimica y Minera de Chile S.A. (Class B)		2,338
	5,399		SODIFF Advanced Materials Co Ltd		526
	287,478		Solar Applied Materials Technology Co		169
	26,773		Solvay S.A.		2,677
	100,683		Sonoco Products Co		4,890
	282,293		South Valley Cement		135
	6,206,831	*	South32 Ltd		6,965
	271,994	*	South32 Ltd (W/I)		306
	942,607	e	Southern Copper Corp (NY)		26,120
	184,931	*,e	Ssab Svenskt Stal AB (Series A)		665
	181,421	*,e	Ssab Svenskt Stal AB (Series B)		544
	67,238	*	Ssangyong Cement Industrial Co Ltd		1,140
	1,755,733	*	St Barbara Ltd		2,676
	1,615,859		Steel Dynamics, Inc		36,373
	208,563		Stella-Jones, Inc		7,467
	85,586		Stepan Co		4,732
	299,709	*,e	Stillwater Mining Co		3,192
	5,125		STO AG.		650
	572,720		Stora Enso Oyj (R Shares)		5,117
	785,531	*	Stornoway Diamond Corp		635
	675,221		Sumitomo Bakelite Co Ltd		2,643
	2,823,511		Sumitomo Chemical Co Ltd		12,780
	821,437		Sumitomo Metal Mining Co Ltd		8,127
	1,035,193		Sumitomo Osaka Cement Co Ltd		4,066
	40,000		Sumitomo Seika Chemicals Co Ltd		198
	14,612	*,e	Sumitomo Titanium Corp		198
	73,296	*	Summit Materials, Inc		1,426
	218,346		SunCoke Energy, Inc		1,419
	2,444,500	*,e,m	Superb Summit International Group Ltd		31
	8,399,900	*	Superblock PCL-Foreign		293
	391,356		Suzano Papel e Celulose S.A.		1,378
	55,000		Swancor Ind Co Ltd		252
	341,155		Symrise AG.		22,841
	197,590		Syngenta AG.		81,940
	1,267,403		Synthos S.A.		1,302
	161,648	*,e	Syrah Resources Ltd		502
	670,900		Ta Ann Holdings BHD		868
	536,438		TA Chen Stainless Pipe		252
	667		Taekwang Industrial Co Ltd		543
	356,093	e	Tahoe Resources, Inc		3,572
	197,236		Tahoe Resources, Inc (Toronto)		1,977
	2,214,516		Taiheiyo Cement Corp		5,097
	3,361,290		Taiwan Cement Corp		3,289
	2,366,960		Taiwan Fertilizer Co Ltd		3,581
	257,725		Taiwan Hon Chuan Enterprise Co Ltd		374

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	477,329		Taiwan Styrene Monomer	$	262
	35,400		Taiyo Ink Manufacturing Co Ltd		1,195
	116,453	e	Taiyo Nippon Sanso Corp		1,107
	12,200		Takasago International Corp		273
	34,000	e	Takiron Co Ltd		169
	268,808		Tata Steel Ltd		1,295
	1,440,000		TCC International Holdings Ltd		262
	40,446		Technosemichem Co Ltd		1,470
	541,246	e	Teck Cominco Ltd		4,105
	10,642,018		Teijin Ltd		37,059
	33,500		Tenma Corp		548
	26,123	*	Tessenderlo Chemie NV		991
	238,265	e,m	TFS Corp Ltd		295
	316,024		ThyssenKrupp AG.		6,546
	6,490,000	e	Tiangong International Co Ltd		502
	98,724	e	TimkenSteel Corp		898
	50,727		Titan Cement Co S.A.		1,088
	208,500		Toagosei Co Ltd		1,735
	32,600	e	Toho Titanium Co Ltd		235
	115,000	e	Toho Zinc Co Ltd		290
	616,000		Tokai Carbon Co Ltd		1,460
	78,000	e	Tokushu Tokai Holdings Co Ltd		252
	260,000	e	Tokuyama Corp		402
	36,000	e	Tokyo Ohka Kogyo Co Ltd		900
	278,796	e	Tokyo Rope Manufacturing Co Ltd		403
	379,000	e	Tokyo Steel Manufacturing Co Ltd		2,254
	660,750		Ton Yi Industrial Corp		308
	28,411	*	Tongyang Cement & Energy Corp		116
	531,000	e	Topy Industries Ltd		1,046
	502,572		Toray Industries, Inc		4,289
	1,224,000		Tosoh Corp		5,140
	556,000		Toyo Ink Manufacturing Co Ltd		2,227
	44,000		Toyo Kohan Co Ltd		132
	129,441		Toyo Seikan Kaisha Ltd		2,422
	2,640,676		Toyobo Co Ltd		3,962
	79,497	*	Trecora Resources		765
	96,685		Tredegar Corp		1,520
	35,115	*,e	Trinseo S.A.		1,293
	316,328	e	Tronox Ltd		2,021
	539,000		TSRC Corp		457
	106,485	e	Tubacex S.A.		250
	1,453,000		Tung Ho Steel Enterprise Corp		883
	1,694,656	*	Turquoise Hill Resources Ltd		4,332
	4,932,647		UBE Industries Ltd		8,720
	60,748		Ultra Tech Cement Ltd		2,963
	25,125		Umicore		1,247
	5,558		Unid Co Ltd		242
	326,704		United Phosphorus Ltd		2,357
	5,964		United States Lime & Minerals, Inc		358
	562,713	e	United States Steel Corp		9,032
	330,520		Universal Cement Corp		230
	622,532		UPC Technology Corp		175

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,012,587		UPM-Kymmene Oyj	$	36,387
	42,691	*,e	US Concrete, Inc		2,544
	724,870		USI Corp		291
	2,690,907		Vale S.A.		11,338
	3,040,508		Vale S.A. (Preference)		9,623
	39,058	e	Valhi, Inc		46
	46,866		Valspar Corp		5,016
	174,793	e	Vedanta Resources plc		859
	484		Vetropack Holding AG.		799
	258,540		Victrex plc		6,109
	10,921		Vinati Organics Ltd		64
	147,256		Voestalpine AG.		4,911
	159,335		Vulcan Materials Co		16,821
	135,809	e	Wacker Chemie AG.		11,919
	64,261		Welspun-Gujarat Stahl Ltd		96
	2,028,000	e	West China Cement Ltd		421
	203,861		West Fraser Timber Co Ltd		8,180
	183,094	e,m	Western Areas NL		288
	1,080,527		Western Forest Products, Inc		1,922
	242,634		Westlake Chemical Corp		11,234
	547,609		WestRock Co		21,373
	60,493	e	Winpak Ltd		2,330
	3,094	*	Wonik Materials Co Ltd		173
	149,698	*	Worthington Industries, Inc		5,335
	1,368,610	*	WR Grace & Co		97,418
	98,400	e	W-Scope Corp		4,565
	723,000	*	Xinjiang Xinxin Mining Industry Co Ltd		67
	1,514,843	e	Yamana Gold, Inc		4,596
	35,500		Yamato Kogyo Co Ltd		769
	379,332		Yara International ASA		14,240
	56,573		Yeong Guan Energy Technology Group Co Ltd		402
	700,000		Yeun Chyang Industrial Co Ltd		521
	870,577		Yieh Phui Enterprise		211
	1,063,670		Yingde Gases		408
	542,000		Yip’s Chemical Holdings Ltd		170
	18,700		Yodogawa Steel Works Ltd		397
	8,118		Youlchon Chemical Co Ltd		91
	2,506,285		Yuen Foong Yu Paper Manufacturing Co Ltd		806
	697,206		Yule Catto & Co plc		3,647
	59,000		Yung Chi Paint & Varnish Manufacturing Co Ltd		142
	41,327		Zaklady Azotowe w Tarnowie-Moscicach S.A.		1,067
	297,512		Zeon Corp		1,922
	813,500	e	Zhaojin Mining Industry Co Ltd		627
	20,155		Zignago Vetro S.p.A.		133
	13,780,220	e	Zijin Mining Group Co Ltd		4,241
			TOTAL MATERIALS		5,058,571
MEDIA - 3.2%
	1,677,220		ABS-CBN Holdings Corp (ADR)		2,076
	29,500	e	Adways, Inc		214
	19,100		AH Belo Corp (Class A)		92
	342,219		Aimia, Inc		2,227

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	15,700	*	AirMedia Group, Inc (ADR)	$	88
	11,320,000	*,e	Alibaba Pictures Group Ltd		2,585
	299,407		Altice NV (Class A)		5,318
	118,189	*	Altice NV (Class B)		2,123
	100,022		AMC Entertainment Holdings, Inc		2,800
	657,041	*	AMC Networks, Inc		42,668
	55,903	e	Antena 3 de Television S.A.		611
	771,321	*	APN News & Media Ltd		384
	26,200		Asatsu-DK, Inc		674
	6,330,100	e	Asian Pay Television Trust		2,630
	1,562,545		Astro Malaysia Holdings BHD		1,197
	29,259	e	Avex Group Holdings, Inc		381
	45,110	e	Axel Springer AG.		2,428
	998,323		BEC World PCL (Foreign)		787
	952,000	*	Big Media Group Ltd		49
	10,700	*,e	Bona Film Group Ltd (ADR)		145
	117,916		Borussia Dortmund GmbH & Co KGaA		539
	1,727		Cable One, Inc		755
	186,914		Cablevision Systems Corp (Class A)		6,168
	21,170	e	Cairo Communication S.p.A.		113
	59,240	*,e	Carmike Cinemas, Inc		1,780
	2,649,385		CBS Corp (Class B)		145,955
	68,462	*	Central European Media Enterprises Ltd (Class A)		175
	196,591	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		501
	182,235	*,e	Charter Communications, Inc		36,890
	83,540		Cheil Communications, Inc		1,243
	251,321		Cinemark Holdings, Inc		9,005
	98,629	e	Cineplex Galaxy Income Fund		3,840
	292,250		Cineworld Group plc		2,252
	23,658		CJ CGV Co Ltd		2,041
	53,647		CJ E&M Corp		2,995
	272,601		CJ Hellovision Co Ltd		3,038
	44,600	e	Clear Channel Outdoor Holdings, Inc (Class A)		210
	55,694		Cogeco Communications, Inc		2,970
	13,518		Cogeco, Inc		592
	11,286,884		Comcast Corp (Class A)		689,403
	105,108	*,e	Corus Entertainment, Inc		952
	90,139	*	Crown Media Holdings, Inc (Class A)		458
	42,173		CTS Eventim AG.		1,495
	40,700	e	CyberAgent, Inc		1,892
	420,424	*	Cyfrowy Polsat S.A.		2,733
	34,900	e	Daiichikosho Co Ltd		1,519
	3,446	*,e	Daily Journal Corp		674
	808,005		Daily Mail & General Trust		8,062
	15,490	*	DEN Networks Ltd		20
	201,555		Dentsu, Inc		10,111
	452,000	e	DHX Media Ltd		2,523
	5,490,000	*	Digital Domain Holdings Ltd		368
	243,244	*,e	Discovery Communications, Inc (Class A)		6,964
	468,986	*	Discovery Communications, Inc (Class C)		12,663
	786,541		DISH Network Corp (Class A)		36,385

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	436,780	*,e	DreamWorks Animation SKG, Inc (Class A)	$	10,898
	4,418,500		E for L Aim PCL		85
	91,643	*	Entercom Communications Corp (Class A)		970
	244,686		Entertainment One Ltd		533
	278,457		Entravision Communications Corp (Class A)		2,072
	37,588	*	Eros International plc		433
	4,000,000	*	eSun Holdings Ltd		268
	109,595		Eutelsat Communications		3,535
	143,828	e	EW Scripps Co (Class A)		2,242
	6,241	*	Fenerbahce Sportif Hizmetleri Sanayi ve Ticaret AS		94
	354,000		Fuji Television Network, Inc		3,885
	297,811		Gannett Co, Inc		4,509
	139,322		Gestevision Telecinco S.A.		1,599
	111,461	*,e	Global Eagle Entertainment, Inc		950
	192,188	*	Gray Television, Inc		2,252
	4,092,212	e	Grupo Televisa S.A.		22,537
	74,901	*	Gruppo Editoriale L’Espresso S.p.A.		82
	229,201		Hakuhodo DY Holdings, Inc		2,595
	313,384		Harte-Hanks, Inc		793
	160,727		Havas S.A.		1,288
	34,797	*,e	Hemisphere Media Group, Inc		457
	25,822		Hyundai Hy Communications & Network Co		77
	411,947	*	IBN18 Broadcast Ltd		251
	55,880	*	IHQ, Inc		108
	817,575	*,e	Imax Corp		25,418
	1,528,414		Informa plc		15,210
	27,174		Innocean Worldwide, Inc		1,916
	3,975,254		Interpublic Group of Cos, Inc		91,232
	80,835		IPSOS		1,885
	390,845		ITE Group plc		825
	7,877,280		ITV plc		27,220
	142,654		Jagran Prakashan Ltd		345
	633,440		JC Decaux S.A.		27,724
	35,087	*	Jcontentree Corp		138
	6,594,976		John Fairfax Holdings Ltd		4,340
	180,568		John Wiley & Sons, Inc (Class A)		8,828
	56,789		Journal Media Group, Inc		679
	378,689	*	Juventus Football Club S.p.A.		111
	6,283		Kabel Deutschland Holding AG.		703
	117,132		Kadokawa Dwango Corp		1,803
	12,877		Kinepolis Group NV		558
	21,383		KT Skylife Co Ltd		310
	63,195		Lagardere S.C.A.		1,676
	93,200	*,e	Lee Enterprises, Inc		168
	43,708	*	Liberty Broadband Corp (Class A)		2,542
	108,680	*	Liberty Broadband Corp (Class C)		6,298
	46,310	*	Liberty Global plc		1,739
	147,462	*	Liberty Global plc (Class A)		5,677
	38	*	Liberty Global plc LiLAC (Class A)		1
	192	*,e	Liberty Global plc LiLAC (Class C)		7
	168,044	*	Liberty Media Corp		6,492
	356,918	*	Liberty Media Corp (Class C)		13,595

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	846,593	e	Lions Gate Entertainment Corp	$	18,498
	349,244	*	Live Nation, Inc		7,792
	38,229		Loen Entertainment, Inc		2,614
	31,925	*	Loral Space & Communications, Inc		1,122
	47,298		M6-Metropole Television		862
	43,580	*	Madison Square Garden Co		7,250
	431,000		Major Cineplex Group PCL-Foreign		370
	80,700	*,e	McClatchy Co (Class A)		85
	618,973	e	MDC Partners, Inc		14,608
	318,460	*,e	Media General, Inc		5,194
	1,816,700		Media Prima BHD		680
	3,208,752		Mediaset S.p.A.		13,228
	150,000		Megacable Holdings SAB de C.V.		622
	2,320,000	*	Mei Ah Entertainment Group Ltd		180
	119,053		Meredith Corp		5,655
	47,574	e	Modern Times Group AB (B Shares)		1,423
	356,957	*	MSG Networks, Inc		6,172
	205,000		Multiplus S.A.		1,868
	2,900		Nasmedia Co Ltd		124
	805,436		Naspers Ltd (N Shares)		112,278
	168,741		National CineMedia, Inc		2,567
	217,357		New Media Investment Group, Inc		3,617
	332,884		New York Times Co (Class A)		4,148
	151,090	e	News Corp		1,929
	37,690	e	News Corp (Class B)		499
	76,408	e	Nexstar Broadcasting Group, Inc (Class A)		3,383
	102,500	e	Next Co Ltd		1,254
	13,519	*	Next Entertainment World Co Ltd		180
	766,583	e	Nine Entertainment Co Holdings Ltd		917
	35,687		Numericable SAS		1,499
	292,586		Omnicom Group, Inc		24,352
	461,873		Pearson plc		5,788
	1,378,000		Phoenix Satellite Television Holdings Ltd		316
	1,109,400		Plan B Media PCL		208
	83,900		Poly Culture Group Corp Ltd		197
	40,910	*,e	Promotora de Informaciones S.A.		270
	951,505		ProSiebenSat. Media AG.		48,845
	8,700		Proto Corp		107
	7,454,634		PT Global MediaCom Tbk		677
	17,745,463		PT Media Nusantara Citra Tbk		2,915
	538,620		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		3,587
	5,827,575		PT Surya Citra Media Tbk		1,379
	6,492,500	*	PT Visi Media Asia Tbk		175
	128,214		Publicis Groupe S.A.		8,991
	18,643		PVR Ltd		207
	108,958	e	Quebecor, Inc		2,861
	185,276	g	RAI Way S.p.A		995
	410,191	*,e	RCS MediaGroup S.p.A.		220
	96,458	e	REA Group Ltd		3,992
	44,110	*	Reading International, Inc		528
	2,915,119		Reed Elsevier NV		50,824

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,968,801		Reed Elsevier plc	$	36,523
	201,605	e	Regal Entertainment Group (Class A)		4,262
	407,000		RS PCL		119
	304,254		RTL Group		25,742
	10,386	e	Saga Communications, Inc		416
	159,799	e	Sanoma-WSOY Oyj		781
	36,431		SBS Media Holdings Co Ltd		103
	15,455		Schibsted ASA		451
	98,668	*	Schibsted ASA (B Shares)		2,731
	64,142	e	Scholastic Corp		2,397
	625,214		Scripps Networks Interactive (Class A)		40,952
	16,100	*,e	Septeni Holdings Co Ltd		396
	149,429		SES Global S.A.		4,372
	717,668	e	Shaw Communications, Inc (B Shares)		13,864
	76,000	e	Shochiku Co Ltd		716
	27,836		SHOWBOX Corp		192
	160,334	e	Sinclair Broadcast Group, Inc (Class A)		4,930
	1,265,501	e	Singapore Press Holdings Ltd		3,754
	30,381	e	Sirius XM Canada Holdings, Inc		108
	5,790,732	e	Sirius XM Holdings, Inc		22,873
	90,502	*,e	Sizmek, Inc		262
	683,550	e	Sky Network Television Ltd		2,348
	585,700		Sky Perfect Jsat Corp		3,407
	11,451,821		Sky plc		168,279
	15,527	*	SM Entertainment Co		581
	4,452,000	e	SMI Holdings Group Ltd		431
	53,000		Smiles S.A.		560
	98,559		Societe Television Francaise 1		1,275
	32,477	*,e	Solocal Group		166
	1,531,127		Southern Cross Media Group		1,304
	267,800		Star Publications Malaysia BHD		165
	599,457	*	Starz-Liberty Capital		15,784
	107,576	e	Stroer Out-of-Home Media AG.		6,749
	130,438		Sun TV Network Ltd		743
	430,800	*	T4F Entretenimento S.A.		762
	195,181		TEGNA, Inc		4,579
	53,606		Telenet Group Holding NV		2,709
	301,343		Television Broadcasts Ltd		1,085
	165,217	*,e	Ten Network Holdings Ltd		126
	597,069		Thomson Corp		24,169
	363,186		Thomson Corp (Toronto)		14,715
	698,471	e	Time Warner Cable, Inc		142,921
	4,210,540		Time Warner, Inc		305,475
	329,852		Time, Inc		5,093
	40,800	e	Toei Animation Co Ltd		1,825
	776,885		Toei Co Ltd		6,913
	173,923		Toho Co Ltd		4,572
	139,200		Tohokushinsha Film Corp		774
	32,700		Tokyo Broadcasting System, Inc		507
	1,644,000	*	Tom Group Ltd		407
	18,307	*,e	Townsquare Media, Inc		205
	406,240		Tribune Co		15,579

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	106,543		Tribune Publishing Co	$	823
	172,000		TV Asahi Corp		3,086
	1,001,600	e	TV Azteca S.A. de C.V.		160
	2,298,264		Twenty-First Century Fox, Inc		64,076
	856,805		Twenty-First Century Fox, Inc (Class B)		24,162
	379,372		United Business Media Ltd		3,269
	81,746	*	Usen Corp		237
	2,183,000		VGI Global Media PCL		296
	17,749	e	Viacom, Inc		804
	2,768,515		Viacom, Inc (Class B)		114,284
	365,356	*	Videocon d2h Ltd (ADR)		2,689
	72,448	e	Village Roadshow Ltd		287
	2,749,600	*	Viva China Holdings Ltd		270
	1,198,367		Vivendi Universal S.A.		25,114
	5,443,711		Walt Disney Co		540,615
	3,258,264		West Australian Newspapers Holdings Ltd		2,571
	661,000	e	Wisdom Holdings Group		220
	210,859		Wolters Kluwer NV		8,404
	18,750	*	Woongjin Thinkbig Co Ltd		231
	155,700		Workpoint Entertainment PCL		179
	71,187	e	World Wrestling Entertainment, Inc (Class A)		1,257
	5,000		Wowow, Inc		106
	4,135,598		WPP plc		96,258
	23,735	*	Yellow Pages Ltd		378
	8,832		YG Entertainment, Inc		302
	3,676,479	*	Zee Entertainment Enterprises Ltd		4,812
	887,709		ZEE Telefilms Ltd		5,186
	19,900		Zenrin Co Ltd		399
			TOTAL MEDIA		3,555,393
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.0%
	36,438	*,e	AB Science S.A.		455
	4,988,816		AbbVie, Inc		284,961
	370,994		Abcam plc		3,137
	33,115	*,e	Abeona Therapeutics, Inc		85
	40,910	*,e	Ablynx NV		588
	233,266	*,e	Acadia Pharmaceuticals, Inc		6,522
	60,239	*,e	Accelerate Diagnostics, Inc		866
	73,447	*	Acceleron Pharma, Inc		1,938
	438,738	*,e	Achillion Pharmaceuticals, Inc		3,387
	12,953	*,e	Aclaris Therapeutics, Inc		245
	133,581	*,e	Acorda Therapeutics, Inc		3,533
	110,920		Actelion Ltd		16,554
	28,935	*,e	Adamas Pharmaceuticals, Inc		418
	42,394	e	Adcock Ingram Holdings Ltd		126
	19,096	*,e	Adocia		1,315
	21,347	*,e	Aduro Biotech, Inc		273
	73,548	*,e	Advaxis, Inc		664
	62,917	*,e	Aegerion Pharmaceuticals, Inc		233
	86,935	*,e	Aerie Pharmaceuticals, Inc		1,057
	38,172	*,e	Affimed NV		143
	189,364	*,e	Affymetrix, Inc		2,653

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	188,353	*,e	Agenus, Inc	$	784
	24,883	*,e	Agile Therapeutics, Inc		155
	1,352,423		Agilent Technologies, Inc		53,894
	47,475	*,e	Agios Pharmaceuticals, Inc		1,927
	25,717	*,e	Aimmune Therapeutics, Inc		349
	19,081		Ajanta Pharma Ltd		406
	74,110	*,e	Akebia Therapeutics, Inc		668
	145,344	*,e	Akorn, Inc		3,420
	63,937	*,e	Albany Molecular Research, Inc		978
	54,643	*,e	Alder Biopharmaceuticals, Inc		1,338
	90,079		Alembic Pharmaceuticals Ltd		814
	929,010	*	Alexion Pharmaceuticals, Inc		129,337
	76,196	*,e	Alimera Sciences, Inc		133
	4,994		ALK-Abello AS		733
	172,169	*,e	Alkermes plc		5,886
	2,346,247	*	Allergan plc		628,865
	97,339	*	Alnylam Pharmaceuticals, Inc		6,110
	93,280	*,e	AMAG Pharmaceuticals, Inc		2,183
	2,221,589		Amgen, Inc		333,083
	6,018		Amicogen, Inc		349
	281,604	*,e	Amicus Therapeutics, Inc		2,380
	80,433	*,e	Amphastar Pharmaceuticals, Inc		965
	148,371	*,e	Anacor Pharmaceuticals, Inc		7,930
	19,205	*,e	ANI Pharmaceuticals, Inc		646
	182,705	*,e	Anthera Pharmaceuticals, Inc		661
	75,200	*	Applied Genetic Technologies Corp		1,051
	261,285	*,e	Aralez Pharmaceuticals, Inc		928
	117,387	*,e	Aratana Therapeutics, Inc		648
	49,693	*	Ardelyx, Inc		386
	668,339	*,e	Arena Pharmaceuticals, Inc		1,317
	438,229	*,e	Ariad Pharmaceuticals, Inc		2,800
	549,521	*,e	Array Biopharma, Inc		1,621
	146,813	*,e	Arrowhead Research Corp		708
	117,843		Ascendis Health Ltd		178
	17,200		ASKA Pharmaceutical Co Ltd		213
	393,185		Aspen Pharmacare Holdings Ltd		8,514
	38,544	*,e	Assembly Biosciences, Inc		193
	2,564,903		Astellas Pharma, Inc		34,086
	29,496	*,e	Asterias Biotherapeutics, Inc		139
	5,855	*	AstraZeneca Pharma India Ltd		102
	1,282,060		AstraZeneca plc		71,580
	398,366	e	AstraZeneca plc (ADR)		11,218
	41,312	*,e	Atara Biotherapeutics, Inc		786
	14,616	*,e	aTyr Pharma, Inc		58
	470,987		Aurobindo Pharma Ltd		5,297
	95,012	*,e	Avalanche Biotechnologies, Inc		491
	9,297	*	Avexis, Inc		253
	32,600	*,e	Axovant Sciences Ltd		374
	8,082	*	Basilea Pharmaceutica		569
	23,827	*,e	Bavarian Nordic AS		889
	1,607,274		Baxalta, Inc		64,934
	1,247,448		Bayer AG.		146,176

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	272,000	e	Beijing Tong Ren Tang Chinese Medicine Co Ltd	$	284
	21,465	*,e	Bellicum Pharmaceuticals, Inc		201
	20,354	*	Binex Co Ltd		396
	126,328		Biocon Ltd		922
	273,132	*,e	BioCryst Pharmaceuticals, Inc		773
	150,079	*,e	BioDelivery Sciences International, Inc		485
	13,142		Biogaia AB (B Shares)		350
	730,923	*	Biogen Idec, Inc		190,274
	818,789	*	BioMarin Pharmaceutical, Inc		67,534
	74,229	*	Bio-Rad Laboratories, Inc (Class A)		10,149
	36,210	*	Biospecifics Technologies Corp		1,261
	94,568		Bio-Techne Corp		8,939
	6,201		Biotest AG.		119
	17,422		Biotest AG. (Preference)		292
	142,524	*,e	BioTime, Inc		409
	238,485	*,e	Biovitrum AB		3,339
	259,483	*,e	Bluebird Bio, Inc		11,028
	25,004	*	Blueprint Medicines Corp		451
	15,878	e	Boiron S.A.		1,285
	19,462		Boryung Pharmaceutical Co Ltd		943
	5,295,867		Bristol-Myers Squibb Co		338,300
	473,968		Bruker BioSciences Corp		13,271
	357,447	*	BTG plc		3,186
	20,974		Bukwang Pharmaceutical Co Ltd		524
	110,055		Cadila Healthcare Ltd		527
	27,981	*,e	Calithera Biosciences, Inc		159
	176,537	*	Cambrex Corp		7,768
	90,539	*,e	Cara Therapeutics Inc		563
	256,644	*	Catalent, Inc		6,845
	251,284	*,e	Catalyst Pharmaceuticals, Inc		294
	3,402,205	*	Celgene Corp		340,527
	5,571		Cell Biotech Co Ltd		308
	282,838	*,e	Celldex Therapeutics, Inc		1,069
	21,752	*,e	Cellectis S.A.		589
	10,778	*	Celltrion Pharm Inc		157
	113,899	*,e	Celltrion, Inc		10,927
	25,003	*	Cellular Biomedicine Group, Inc		466
	84,729	*,e	Cempra, Inc		1,484
	135,485	*	Center Laboratories, Inc		295
	227,287	*	Cepheid, Inc		7,582
	146,954	*	Charles River Laboratories International, Inc		11,160
	81,299	*,e	ChemoCentryx, Inc		202
	16,555	*,e	Chiasma, Inc		152
	158,219	*,e	Chimerix, Inc		809
	10,235,300	*,e,m	China Animal Healthcare Ltd		13
	740,000	*	China Grand Pharmaceutical and Healthcare Holdings Ltd		160
	1,377,000		China Medical System Holdings Ltd		1,911
	18,545,000	*,e	China Regenerative Medicine International Ltd		729
	765,000		China Shineway Pharmaceutical Group Ltd		924
	2,635		Chong Kun Dang Pharm Corp		230
	5,684		Chong Kun Dang Pharmaceutical Corp		688
	11,069		Choongwae Pharma Corp		341

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	218,800		Chugai Pharmaceutical Co Ltd	$	6,770
	11,916	*,e	Cidara Therapeutics, Inc		151
	611,022		Cipla Ltd		4,722
	2,556,000		CK Life Sciences International Holdings, Inc		208
	67,614	e	Clinigen Group plc		567
	93,839	*,e	Clovis Oncology, Inc		1,802
	8,900	e	CMIC Co Ltd		112
	702,048	*,e	Coherus Biosciences, Inc		14,904
	18,589	*,e	Collegium Pharmaceutical, Inc		337
	93,777	*,e	Concert Pharmaceuticals Inc		1,281
	46,038	e	Concordia Healthcare Corp		1,178
	889,000	e	Consun Pharmaceutical Group Ltd		463
	152,068	*,e	Corcept Therapeutics, Inc		712
	24,273	*,e	Corium International, Inc		94
	75,434	*,e	CorMedix, Inc		200
	6,559	*	Cosmo Pharmaceuticals S.A.		1,043
	797,673		CSL Ltd		61,988
	4,918,777		CSPC Pharmaceutical Group Ltd		4,452
	13,899	*	CTC BIO, Inc		183
	273,819	*,e	Curis, Inc		441
	97,128	*,e	Cytokinetics, Inc		685
	17,210	*,e	CytomX Therapeutics, Inc		222
	176,731	*,e	CytRx Corp		474
	10,763		Dae Hwa Pharmaceutical Co Ltd		338
	7,535	*	Daehan New Pharm Co Ltd		107
	50,926		Daewon Pharmaceutical Co Ltd		885
	7,314		Daewoong Co Ltd		422
	4,481		Daewoong Pharmaceutical Co Ltd		382
	1,751,980	e	Daiichi Sankyo Co Ltd		38,885
	1,232,000		Dawnrays Pharmaceutical Holdings Ltd		984
	17,341	*,e	DBV Technologies S.A.		1,129
	193,902	*,e	Depomed, Inc		2,701
	40,512	*	Dermira, Inc		838
	41,461	*,e	Dicerna Pharmaceuticals Inc		222
	7,136	*,e	Dimension Therapeutics, Inc		56
	145,172		Dishman Pharmaceuticals & Chemicals Ltd		734
	109,731		Divi S Laboratories Ltd		1,636
	13,957		Dong-A Pharmaceutical Co Ltd		2,534
	17,694		Dong-A ST Co Ltd		2,352
	25,566		DongKook Pharmaceutical Co Ltd		1,476
	205,833		Dr Reddy’s Laboratories Ltd		9,404
	281,061	*,e	Durect Corp		379
	112,650	*,e	Dynavax Technologies Corp		2,167
	20,066	*,e	Eagle Pharmaceuticals, Inc		813
	17,676	*,e	Edge Therapeutics, Inc		162
	15,007	*	Editas Medicine, Inc		518
	247,821		Eisai Co Ltd		14,899
	3,965,386		Eli Lilly & Co		285,547
	78,623	*	Emergent Biosolutions, Inc		2,858
	77,062	*,e	Enanta Pharmaceuticals, Inc		2,263
	606,345	*	Endo International plc		17,069
	103,292	*,e	Endocyte, Inc		320

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	94,404	*,e	Epizyme, Inc	$	1,144
	25,500		EPS Co Ltd		312
	33,241	*,e	Esperion Thereapeutics, Inc		562
	278,000		Essex Bio-technology Ltd		144
	20,814		Eurofins Scientific		7,620
	91,573	*	Evotec AG.		330
	251,587	*,e	Exact Sciences Corp		1,696
	609,564	*,e	Exelixis, Inc		2,438
	521,986		Faes Farma S.A. (Sigma)		1,642
	86,030		FDC Ltd		241
	63,983	*,e	Fibrocell Science, Inc		160
	202,126	*	FibroGen, Inc		4,303
	126,079	*	Five Prime Therapeutics, Inc		5,123
	15,790	*,e	Flex Pharma, Inc		173
	35,611	*	Flexion Therapeutics Inc		328
	70,632	*,e	Fluidigm Corp		570
	59,676	*,e	Foamix Pharmaceuticals Ltd		389
	28,185	*,e	Foundation Medicine, Inc		512
	74,000		Fuji Pharma Co Ltd		1,247
	28,356	*	Galapagos NV		1,188
	436,071	*,e	Galena Biopharma, Inc		593
	8,380	*	Genexine Co Ltd		519
	16,714	*,e	Genfit		580
	46,944	*	Genmab AS		6,496
	50,985	*,e	Genocea Biosciences Inc		395
	43,541	*	Genomic Health, Inc		1,079
	759,600	*,e	Genomma Lab Internacional S.A. de C.V.		587
	82,508		Genus plc		1,809
	389,691	*,e	Geron Corp		1,138
	35,641		Gerresheimer AG.		2,789
	5,507,877		Gilead Sciences, Inc		505,953
	11,437,616		GlaxoSmithKline plc		231,534
	147,768		Glenmark Pharmaceuticals Ltd		1,774
	17,281	*,e	Global Blood Therapeutics, Inc		274
	46,785		Granules India Ltd		85
	4,879		Green Cross Corp		764
	21,635		Green Cross Holdings Corp		688
	197,095		Grifols S.A.		4,379
	199,548	*,e	GW Pharmaceuticals plc		1,202
	2,023,644	*	H Lundbeck AS		66,742
	283,385	*,e	Halozyme Therapeutics, Inc		2,684
	23,063	*	Han All Pharmarceutical Co		365
	13,510		Hanmi Holdings Co Ltd		1,758
	6,090		Hanmi Pharm Co Ltd		3,722
	88,204	*,e	Harvard Bioscience, Inc		266
	70,850	*,e	Heron Therapeutics, Inc		1,345
	21,820	*	Heska Corp		622
	455,947		Hikma Pharmaceuticals plc		12,947
	123,513		Hisamitsu Pharmaceutical Co, Inc		5,520
	7,632,062	e	Hua Han Bio-Pharmaceutical Holdings Ltd		827
	4,558		Humedix Co Ltd		220
	6,872		Huons Co Ltd		445

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	7,756	*	Hutchison China MediTech Ltd	$	210
	123,648	*,e	Hutchison China MediTech Ltd (ADR)		1,632
	221,979	*,e	Idera Pharmaceuticals, Inc		440
	75,619	*,e	Ignyta, Inc		512
	63,653		Il Dong Pharmaceutical Co Ltd		1,535
	530,591	*	Illumina, Inc		86,014
	12,384	*	Ilyang Pharmaceutical Co Ltd		542
	28,227	*,e	Immune Design Corp		367
	231,906	*,e	Immunogen, Inc		1,976
	239,764	*,e	Immunomedics, Inc		599
	188,123	*	Impax Laboratories, Inc		6,024
	110,723	*	INC Research Holdings, Inc		4,563
	360,062	*	Incyte Corp		26,094
	1,678,111		Indivior plc		3,924
	19,038		Indoco Remedies Ltd		83
	1,157	*	Infant Bacterial Therapeutics AB		15
	119,398	*,e	Infinity Pharmaceuticals, Inc		629
	35,074	*	Innate Pharma S.A.		485
	206,169	e	Innoviva, Inc		2,596
	176,252	*,e	Inovio Pharmaceuticals, Inc		1,535
	196,546	*,e	Insmed, Inc		2,490
	94,582	*,e	Insys Therapeutics, Inc		1,512
	22,612	*,e	Intercept Pharmaceuticals, Inc		2,905
	39,457	*,e	Intersect ENT, Inc		750
	76,494	*,e	Intra-Cellular Therapies, Inc		2,127
	90,734	*,e	Intrexon Corp		3,075
	11,230	*	iNtRON Biotechnology, Inc		726
	20,743	*,e	Invitae Corp		212
	217,326	*,e	Ionis Pharmaceuticals, Inc		8,802
	68,292		Ipca Laboratories Ltd		600
	305,636		Ipsen		17,526
	310,799	*,e	Ironwood Pharmaceuticals, Inc		3,400
	16,700	*,e	Japan Tissue Engineering Co Lt		206
	254,817	*	Jazz Pharmaceuticals plc		33,266
	11,300		JCR Pharmaceuticals Co Ltd		257
	34,712		Jeil Pharmaceutical Co		1,620
	8,718,234		Johnson & Johnson		943,313
	162,153	*,e	Juno Therapeutics, Inc		6,176
	28,567		JW Holdings Corp		201
	90,800		Kaken Pharmaceutical Co Ltd		5,489
	55,814	*,e	Karyopharm Therapeutics, Inc		498
	247,807	*,e	Keryx Biopharmaceuticals, Inc		1,157
	93,000		Kissei Pharmaceutical Co Ltd		2,141
	127,823	*,e	Kite Pharma, Inc		5,868
	58,196	*	Knight Therapeutics, Inc		354
	4,030		Kolon Life Science, Inc		601
	55,061	*	Komipharm International Co Ltd		1,954
	163,431		Kwang Dong Pharmaceutical Co Ltd		1,593
	9,886		Kyongbo Pharmaceutical Co Ltd		140
	43,136		Kyorin Co Ltd		821
	395,391		Kyowa Hakko Kogyo Co Ltd		6,309
	5,888		Kyungdong Pharm Co Ltd		90

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	33,058	*,e	La Jolla Pharmaceutical Co	$	691
	234,411		Laboratorios Almirall S.A.		3,932
	13,028		Laboratorios Farmaceuticos Rovi S.A		219
	70,725	*,e	Lannett Co, Inc		1,268
	248,500	e	Lee’s Pharmaceutical Holdings Ltd		174
	122,664	*,e	Lexicon Pharmaceuticals, Inc		1,466
	10,781	*	LG Life Sciences Ltd		634
	95,841	*,e	Ligand Pharmaceuticals, Inc (Class B)		10,264
	112,930	*,e	Lion Biotechnologies, Inc		574
	176,670		Livzon Pharmaceutical Group, Inc		775
	398,101		Lonza Group AG.		67,296
	77,000	*	Lotus Pharmaceutical Co Ltd		156
	22,453	*,e	Loxo Oncology, Inc		614
	107,188	*	Luminex Corp		2,079
	398,880		Lupin Ltd		8,909
	1,721,500	*,e	Luye Pharma Group Ltd		1,332
	7,802	*	Macrogen, Inc		236
	73,503	*	MacroGenics, Inc		1,378
	310,102	*	Mallinckrodt plc		19,003
	201,519	*,e	MannKind Corp		324
	175,620		Marksans Pharma Ltd		123
	635,238	*,e	Mayne Pharma Group Ltd		732
	245,106		Meda AB (A Shares)		4,555
	50,342	*,e	Medgenics, Inc		222
	221,992	*,e	Medicines Co		7,053
	91,918	*	Medigen Biotechnology Corp		202
	351,446		Medivation, Inc		16,159
	67,359	*	Medivir AB		468
	12,904		Medy-Tox, Inc		4,978
	259,100		Mega Lifesciences PCL		125
	8,491,721		Merck & Co, Inc		449,297
	68,292		Merck KGaA		5,681
	4,618,667	*,e	Merrimack Pharmaceuticals, Inc		38,658
	308,741	*,e	Mesoblast Ltd		604
	92,381	*	Mettler-Toledo International, Inc		31,849
	264,923	*,e	MiMedx Group, Inc		2,315
	28,194	*,e	Mirati Therapeutics, Inc		603
	10,300		Mochida Pharmaceutical Co Ltd		764
	5,207	*,e	Molecular Partners AG.		168
	152,357	*	Momenta Pharmaceuticals, Inc		1,408
	20,155	*,e	Morphosys AG.		970
	2,366,060	*,e	Mylan NV		109,667
	7,773	*,e	MyoKardia, Inc		83
	166,762	*	Myriad Genetics, Inc		6,242
	31,700	*,e	NanoCarrier Co Ltd		390
	35,703	*,e	NanoString Technologies, Inc		543
	15,389	*,e	NantKwest, Inc		127
	88,715		Natco Pharma Ltd		553
	21,160	*,e	Natera, Inc		201
	13,627	*	Naturalendo Tech Co Ltd		173
	397,485	*,e	Navidea Biopharmceuticals, Inc		375
	325,272	*,e	Nektar Therapeutics		4,472

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	128,740	*	NeoGenomics, Inc	$	868
	11,977	*,e	Neos Therapeutics, Inc		129
	287,856	*	Neurocrine Biosciences, Inc		11,385
	4,676	*,e	Neuroderm Ltd		66
	84,683	*,e	NewLink Genetics Corp		1,541
	9,771	*,e	Newron Pharmaceuticals S.p.A		168
	112,050		Nichi-iko Pharmaceutical Co Ltd		2,581
	42,200		Nippon Shinyaku Co Ltd		1,650
	4,377	*	Nivalis Therapeutics, Inc		18
	123,622	*,e	Northwest Biotherapeutics, Inc		180
	4,090,275		Novartis AG.		295,939
	780,362	*,e	Novavax, Inc		4,027
	3,208,225		Novo Nordisk AS		173,737
	106,000	*	OBI Pharma, Inc		1,306
	38,952	*,e	Ocular Therapeutix, Inc		376
	93,297	*,e	Omeros Corp		1,431
	7,128	*,e	Oncocyte Corp		33
	41,262	*,e	OncoMed Pharmaceuticals, Inc		417
	115,000	*,e	OncoTherapy Science, Inc		326
	240,555	*,e	Oncothyreon, Inc		306
	130,923		Oneness Biotech Co Ltd		146
	616,755		Ono Pharmaceutical Co Ltd		26,090
	103,681	*,e	Ophthotech Corp		4,383
	562,525	*,e	Opko Health, Inc		5,845
	260,188	*,e	Orexigen Therapeutics, Inc		146
	15,760	*	Orexo AB		117
	225,549	*,e	Organovo Holdings, Inc		489
	96,091	e	Orion Oyj (Class B)		3,172
	48,045	e	Osiris Therapeutics, Inc		274
	44,167	*,e	Otonomy, Inc		659
	500,220		Otsuka Holdings KK		18,169
	128,700		Ouro Fino Saude Animal Participacoes S.A.		1,568
	54,803	*,e	OvaScience, Inc		520
	158,949	*,e	Pacific Biosciences of California, Inc		1,351
	87,768	*,e	Pacira Pharmaceuticals, Inc		4,650
	1,782,786	*,e	Paion AG.		4,267
	31,387	e	Paratek Pharmaceuticals, Inc		476
	165,258	*	Parexel International Corp		10,367
	414,122	e	PDL BioPharma, Inc		1,379
	24,000	*,e	PeptiDream, Inc		1,458
	513,346	*,e	Peregrine Pharmaceuticals, Inc		216
	297,114		PerkinElmer, Inc		14,695
	112,301	*,e	Pernix Therapeutics Holdings, Inc		118
	420,463		Perrigo Co plc		53,790
	81,561	*,e	Pfenex, Inc		802
	18,338		Pfizer Ltd		497
	18,097,565	e	Pfizer, Inc		536,412
	145,156	*,e	Pharma Mar S.A.		426
	3,775		PHARMA RESEARCH PRODUCTS Co Ltd		218
	50,861		PharmaEngine Inc		392
	196,000		Pharmally International Holding Co Ltd		2,400
	18,341	*	Pharmstandard (GDR)		73

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	78,179		Phibro Animal Health Corp	$	2,114
	112,025		Piramal Healthcare Ltd		1,753
	182,788	*	Portola Pharmaceuticals, Inc		3,729
	79,554	*	PRA Health Sciences, Inc		3,402
	196,080	*	Prestige Brands Holdings, Inc		10,469
	163,592	*,e	Progenics Pharmaceuticals, Inc		713
	472,292	*	ProMetic Life Sciences, Inc		1,120
	14,444	*,e	Proteon Therapeutics, Inc		112
	98,291	*,e	Prothena Corp plc		4,046
	29,316,482		PT Kalbe Farma Tbk		3,192
	84,161	*,e	PTC Therapeutics, Inc		542
	46,194	*,e	Puma Biotechnology, Inc		1,357
	201,371	*	PureTech Health plc		422
	131,426	*	Qiagen NV		2,922
	301,475	*	Qiagen NV (NASDAQ)		6,735
	198,893	*	Quintiles Transnational Holdings, Inc		12,948
	101,571	*,e	Radius Health, Inc		3,193
	191,075	*,e	Raptor Pharmaceutical Corp		879
	25,904	e	Recipharm AB		485
	402,487		Recordati S.p.A.		10,068
	188,813	*	Regeneron Pharmaceuticals, Inc		68,056
	15,184	*,e	REGENXBIO, Inc		164
	69,885	*,e	Regulus Therapeutics, Inc		484
	79,232	*,e	Relypsa, Inc		1,074
	145,702	*	Repligen Corp		3,908
	100,915	*,e	Retrophin, Inc		1,379
	43,983	*,e	Revance Therapeutics, Inc		768
	3,906		Reyon Pharmaceutical Co Ltd		108
	123,878		Richter Gedeon Rt		2,468
	774,516	*	Rigel Pharmaceuticals, Inc		1,611
	1,277,575		Roche Holding AG.		313,696
	140,800		Rohto Pharmaceutical Co Ltd		2,565
	43,971	*,e	Sage Therapeutics, Inc		1,410
	86,712	*	Sagent Pharmaceuticals		1,055
	53,508		Samjin Pharmaceutical Co Ltd		1,197
	20,842	*	Samsung Pharmaceutical Co Ltd		121
	169,064	*,e	Sangamo Biosciences, Inc		1,023
	9,393		Sanofi India Ltd		569
	2,118,030		Sanofi-Aventis		170,281
	430,700		Santen Pharmaceutical Co Ltd		6,474
	3,975	*,e	Santhera Pharmaceutical Holding AG.		289
	122,067	*,e	Sarepta Therapeutics, Inc		2,383
	68,600		Sawai Pharmaceutical Co Ltd		4,293
	123,168	*,e	Sciclone Pharmaceuticals, Inc		1,355
	201,776		Scinopharm Taiwan Ltd		311
	201,318	*,e	Seattle Genetics, Inc		7,064
	47,757	*	Seegene, Inc		1,404
	1,061,500		Seikagaku Corp		15,984
	307,803	*,e	Sequenom, Inc		434
	64,985	*	Sequent Scientific Ltd		146
	19,511	*,e	Seres Therapeutics, Inc		518
	394,000		Shandong Luoxin Pharmacy Stock Co Ltd		627

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	748,000		Shandong Xinhua Pharmaceutical Co Ltd	$	426
	240,000		Shanghai Dingli Technology Dev		166
	512,067	e	Shanghai Fosun Pharmaceutical Group Co Ltd		1,411
	239,000	e	Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		184
	19,800	*,g	Shanghai Haohai Biological Technology Co Ltd		112
	19,886		Shilpa Medicare Ltd		129
	570,495		Shionogi & Co Ltd		26,814
	935,371		Shire Ltd		53,349
	2,924		Siegfried Holding AG.		539
	12,973,032		Sihuan Pharmaceutical Holdings		3,713
	15,801,898		Sino Biopharmaceutical		11,855
	83,058		Sirtex Medical Ltd		1,840
	221,415	*	Skyepharma plc		1,422
	976,029	*,m	Skyline Venture Fund III Ltd		10
	216,575	*,e	Sorrento Therapeutics, Inc		1,165
	20,500	e	Sosei Group		2,947
	21,112	*,e	Spark Therapeutics, Inc		623
	310,717	*,e	Spectrum Pharmaceuticals, Inc		1,976
	5,077,703	e	SSY Group Ltd		1,612
	217,329		Stada Arzneimittel AG.		8,605
	2,694	*	Stallergenes Greer plc		85
	40,475	*,e	Stemline Therapeutics, Inc		189
	144,133		Strides Arcolab Ltd		2,359
	170,559	*	Sucampo Pharmaceuticals, Inc (Class A)		1,864
	361,623	e	Sumitomo Dainippon Pharma Co Ltd		4,160
	56,762	*	Sun Pharma Advanced Research Company Ltd		246
	1,815,559	*	Sun Pharmaceutical Industries Ltd		22,474
	165,952	*,e	Supernus Pharmaceuticals, Inc		2,531
	36,510		Suven Life Sciences Ltd		106
	239,070	*,e	Synergy Pharmaceuticals, Inc		660
	27,204	*,e	T2 Biosystems, Inc		268
	213,799	*	Taigen Biopharmaceuticals Holdings Ltd		185
	46,131		Taisho Pharmaceutical Holdings Co Ltd		3,656
	36,339	*	Taiwan Liposome Co Ltd		166
	42,300	e	Takara Bio, Inc		558
	909,164		Takeda Pharmaceutical Co Ltd		41,449
	405,274	e	Tanabe Seiyaku Co Ltd		7,042
	14,959	*	Taro Pharmaceutical Industries Ltd		2,143
	9,488		Tecan Group AG.		1,443
	99,876	*,e	Teligent, Inc		489
	67,215	*,e	TESARO, Inc		2,959
	109,415	*,e	Tetraphase Pharmaceuticals, Inc		507
	1,246,518		Teva Pharmaceutical Industries Ltd		67,043
	744,955		Teva Pharmaceutical Industries Ltd (ADR)		39,863
	86,389	*,e	TG Therapeutics, Inc		736
	343,042	*,e	TherapeuticsMD, Inc		2,195
	69,668	*,e	Theravance Biopharma, Inc		1,310
	1,261,996		Thermo Electron Corp		178,686
	6,439	*,e	Tobira Therapeutics, Inc		53
	26,483	*,e	Tokai Pharmaceuticals, Inc		149
	1,417,000	e	Tong Ren Tang Technologies Co Ltd		2,278
	39,600		Torii Pharmaceutical Co Ltd		910

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	66,400	e	Towa Pharmaceutical Co Ltd	$	2,720
	154,041	*	Trevena, Inc		1,274
	111,106	*,e	Trovagene, Inc		517
	70,292	e	Tsumura & Co		1,686
	323,917		TTY Biopharm Co Ltd		1,117
	62,000	*	TWi Pharmaceuticals, Inc		245
	212,071		UCB S.A.		16,188
	131,560	*	Ultragenyx Pharmaceutical, Inc		8,329
	62,237		Unichem Laboratories Ltd		208
	423,500	*,e	United Laboratories Ltd		171
	81,200	*	United Therapeutics Corp		9,048
	453,070		Valeant Pharmaceuticals International, Inc		11,878
	40,277	*,e	Valneva SE		155
	180,160	*,e	Vanda Pharmaceuticals, Inc		1,506
	466,275	*	Vectura Group plc		1,089
	92,700	*,e	Verastem, Inc		146
	57,408	*,e	Versartis, Inc		460
	533,829	*	Vertex Pharmaceuticals, Inc		42,434
	3,506	e	Virbac S.A.		608
	20,208	*	ViroMed Co Ltd		2,720
	38,634	*	Vitae Pharmaceuticals, Inc		256
	68,223	*,e	Vital Therapies, Inc		619
	24,954		Vitrolife AB		1,049
	483,740	*,e	Vivus, Inc		677
	12,039	*,e	Voyager Therapeutics, Inc		105
	5,424	*,e	vTv Therapeutics, Inc		28
	65,337	*	VWR Corp		1,768
	232,915	*	Waters Corp		30,726
	12,389		Whanin Pharmaceutical Co Ltd		173
	1,668,000	*,e	Winteam Pharmaceutical Group Ltd		820
	26,503		Wockhardt Ltd		390
	9,992	*,e	XBiotech, Inc		94
	107,478	*,e	Xencor Inc		1,442
	173,129	*,e	Xenoport, Inc		781
	9,040		Yuhan Corp		2,217
	85,819	*	Yungjin Pharmaceutical Co Ltd		264
	365,050		YungShin Global Holding Corp		569
	96,751	*,e	Zafgen, Inc		646
	10,238	*,e	Zealand Pharma AS		211
	30,100		Zeria Pharmaceutical Co Ltd		390
	364,614	*,e	ZIOPHARM Oncology, Inc		2,705
	1,881,822		Zoetis Inc		83,421
	58,642	*,e	Zogenix, Inc		542
	7,863	*,e	Zynerba Pharmaceuticals, Inc		74
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		8,928,175
REAL ESTATE - 4.0%
	16,950,000		8990 Holdings, Inc		2,892
	832,835		Abacus Property Group		1,899
	167,506		Acadia Realty Trust		5,884
	817		Activia Properties Inc		4,235
	23,774	*,e	ADLER Real Estate AG.		310

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	20,498	*,g	ADO Properties S.A.	$	703
	1,400		Advance Residence Investment Corp		3,542
	27,753		Aedifica S.A.		1,951
	35,376		Aeon Mall Co Ltd		523
	15,169	*,e	AEON REIT Investment Corp		19,414
	10,573		Africa Israel Properties Ltd		151
	67,755		AG Mortgage Investment Trust		886
	1,753,018	e	Agile Property Holdings Ltd		979
	57,254		Agree Realty Corp		2,203
	1,432,984		AIMS AMP Capital Industrial REIT		1,419
	55,817	*	Airport City Ltd		546
	53,800		Airport Facilities Co Ltd		243
	3,584,170		Aldar Properties PJSC		2,682
	118,296		Alexander & Baldwin, Inc		4,339
	5,309	e	Alexander’s, Inc		2,020
	114,833		Alexandria Real Estate Equities, Inc		10,437
	66,100		Aliansce Shopping Centers S.A.		235
	10,819,688	e	Allco Commercial Real Estate Investment Trust		10,452
	60,195		Allied Properties Real Estate Investment Trust		1,621
	16,278		Allreal Holding AG.		2,356
	84,855		Alony Hetz Properties & Investments Ltd		669
	100,425		Alstria Office REIT-AG.		1,447
	4,095	*,e	Altisource Asset Management Corp		48
	114,781	*,e	Altisource Portfolio Solutions S.A.		2,772
	141,009	e	Altisource Residential Corp		1,692
	26,951		Altus Group Ltd		431
	517,400		Amata Corp PCL (Foreign)		181
	7,815,878		Amer Group Holding		378
	199,949		American Assets Trust,Inc		7,982
	249,865		American Campus Communities, Inc		11,766
	841,021		American Capital Agency Corp		15,668
	114,221		American Capital Mortgage, Inc		1,677
	171,464		American Homes 4 Rent		2,726
	991,939		American Tower Corp		101,545
	174,796		Amot Investments Ltd		629
	4,497,800		Ananda Development PCL		434
	1,469,851		Anant Raj Industries Ltd		732
	4,963		ANF Immobilier		133
	2,118,185		Annaly Capital Management, Inc		21,733
	228,938		Anworth Mortgage Asset Corp		1,067
	3,552,860	*	AP Thailand PCL (Foreign)		615
	485,548		Apartment Investment & Management Co (Class A)		20,306
	174,691	e	Apollo Commercial Real Estate Finance, Inc		2,847
	406,300	e	Apple Hospitality REIT, Inc		8,049
	134,492		Ares Commercial Real Estate Corp		1,473
	1,614,059	e	Argosy Property Ltd		1,321
	176,766		Armada Hoffler Properties, Inc		1,989
	87,730	e	ARMOUR Residential REIT, Inc		1,889
	2,079,606		Arrowhead Properties Ltd (Class A)		1,200
	55,742		Artis Real Estate Investment Trust		551
	2,167,200	e	Ascendas Hospitality Trust		1,206
	1,550,900	e	Ascendas India Trust		1,007

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	648,401	e	Ascendas REIT	$	1,150
	1,840,302	e	Ascott Residence Trust		1,460
	123,624		Ashford Hospitality Prime, Inc		1,443
	205,069		Ashford Hospitality Trust, Inc		1,308
	995,111	*	Attacq Ltd		1,314
	34,700	*,e	AV Homes, Inc		394
	440,400		AvalonBay Communities, Inc		83,764
	1,038,412		Aveo Group		2,663
	62,854		Axia Real Estate SOCIMI S.A.		935
	1,011,895		Axis Real Estate Investment Trust		418
	8,544,330		Ayala Land, Inc		6,539
	28,508		Azrieli Group		1,119
	7,465,900		Bangkokland PCL		314
	112,621		Barwa Real Estate Co		1,119
	1,406		Bayside Land Corp		485
	20,419		Befimmo SCA Sicafi		1,310
	4,392,000		Beijing Capital Land Ltd		1,833
	4,050,000	*	Beijing Enterprises Medical & Health Group Ltd		254
	684,000		Beijing North Star Co		213
	2,186,000	*	Beijing Properties Holdings Ltd		150
	5,087,950		Belle Corp		331
	1,202,013	e	Beni Stabili S.p.A.		901
	537,578		Big Yellow Group plc		5,956
	138,736		Blackstone Mortgage Trust, Inc		3,726
	958	*	BLife Investment Corp		1,998
	69,441	e	Bluerock Residential Growth REIT, Inc		756
	35,346		Boardwalk Real Estate Investment Trust		1,409
	518,295		Boston Properties, Inc		65,865
	518,135		BR Malls Participacoes S.A.		2,125
	150,208		BR Properties S.A.		368
	274,274		Brandywine Realty Trust		3,848
	600,602		British Land Co plc		6,029
	296,909		Brixmor Property Group, Inc		7,607
	1,072,077	e	Brookfield Asset Management, Inc		37,286
	10,104	*	Brookfield Canada Office Properties		227
	1,188		Brookfield Property Partners LP (Toronto)		27
	1,446,941	e	Bunnings Warehouse Property Trust		3,789
	168,963		BUWOG AG.		3,623
	29,752,414		C C Land Holdings Ltd		8,876
	62,761		CA Immobilien Anlagen AG.		1,232
	664,300	e	Cache Logistics Trust		417
	783,309		Cambridge Industrial Trust		325
	105,005		Camden Property Trust		8,830
	127,141		Canadian Apartment Properties REIT		2,827
	33,497		Canadian Real Estate Investment Trust		1,162
	697,500	e	CapitaCommercial Trust		761
	681,266		Capital & Counties Properties		3,223
	2,854,180		CapitaLand Ltd		6,491
	1,583,181		CapitaMall Trust		2,454
	1,334,500		CapitaMalls Malaysia Trust		493
	436,232	e	CapitaRetail China Trust		469
	234,366		Capstead Mortgage Corp		2,318

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	258,194		Care Capital Properties, Inc	$	6,930
	137,714		CareTrust REIT, Inc		1,749
	2,540,000	*,e	Carnival Group International Holdings Ltd		354
	473,412		Castellum AB		7,515
	96,382		CatchMark Timber Trust Inc		1,044
	1,886,000		Cathay Real Estate Development Co Ltd		841
	730,215		CBL & Associates Properties, Inc		8,690
	1,688,091	*	CBRE Group, Inc		48,651
	556,200		CDL Hospitality Trusts		543
	15,000,000		Cebu Holdings, Inc		1,676
	209,384		Cedar Realty Trust, Inc		1,514
	136,478	e	Cedar Woods Properties Ltd		475
	1,281,000		Central China Real Estate Ltd		245
	1,203,800		Central Pattana PCL (Foreign)		1,759
	5,606,636		Champion Real Estate Investment Trust		2,856
	745,231		Charter Hall Group		2,650
	158,603		Chatham Lodging Trust		3,399
	243,757		Chesapeake Lodging Trust		6,450
	4,021,691		Cheuk Nang Holdings Ltd		2,881
	4,029,339		Cheung Kong Property Holdings Ltd		25,966
	488,833		Chimera Investment Corp		6,643
	3,941,500	e	China Aoyuan Property Group Ltd		805
	1,294,000	e	China Merchants Land Ltd		184
	3,180,000	*	China Minsheng Drawin Technology Group Ltd		162
	56,536	*	China New City Commercial Development Ltd		81
	12,797,521	*,e	China New Town Development Co Ltd		470
	5,355,000	*,e	China Oceanwide Holdings Ltd		628
	880,000	e	China Overseas Grand Oceans Group Ltd		298
	7,449,847	e	China Overseas Land & Investment Ltd		23,595
	5,593,881		China Resources Land Ltd		14,352
	3,971,400	*	China SCE Property Holdings Ltd		850
	4,508,838		China Vanke Co Ltd		11,064
	1,456,000	g	China Vast Industrial Urban Development Co Ltd		474
	335,500	e	Chinese Estates Holdings Ltd		852
	112,254		Choice Properties REIT		1,069
	164,088		Chong Hong Construction Co		245
	7,136,758		CIFI Holdings Group Co Ltd		1,715
	243,328		City Developments Ltd		1,473
	348,780		Citycon Oyj		879
	19,792		Cofinimmo		2,424
	50,631		Colliers International Group, Inc		1,918
	449,686		Colony Financial, Inc		7,541
	182,669		Colony Starwood Homes		4,521
	576,000		Colour Life Services Group		441
	466,652		Columbia Property Trust, Inc		10,262
	366	*	Comforia Residential REIT, Inc		715
	193,211		Cominar Real Estate Investment Trust		2,559
	746,786		Communications Sales & Leasing, Inc		16,616
	857,500	e	Concentradora Fibra Danhos S.A. de C.V.		1,785
	408,500		Concentradora Fibra Hotelera Mexicana S.A. de C.V.		373
	10,507	e	Consolidated-Tomoka Land Co		485
	78,002		Conwert Immobilien Invest AG.		1,250

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,779	e	CorEnergy Infrastructure Trust, Inc	$	619
	77,633		Coresite Realty		5,435
	495,036	e	Corp Inmobiliaria Vesta SAB de C.V.		741
	113,228		Corporate Office Properties Trust		2,971
	169,874		Corrections Corp of America		5,444
	6,848,928	e	Country Garden Holdings Co Ltd		2,722
	3,760,500	*	Country Group Development PCL		127
	191,710		Countrywide plc		1,062
	847,093		Cousins Properties, Inc		8,793
	3,305	*	Crescendo Investment Corp		2,670
	33,656		Crombie Real Estate Investment Trust		364
	1,165,876		Cromwell Group		928
	1,208,409		Crown Castle International Corp		104,527
	290,000	*	Crown International Corp Ltd		56
	11,428,943	e	CSI Properties Ltd		324
	76,379		CT Real Estate Investment Trust		850
	952,377		CubeSmart		31,714
	204,069		CyrusOne, Inc		9,316
	389,097		CYS Investments, Inc		3,167
	777	*	DA Office Investment Corp		4,828
	96,900	e	Daibiru Corp		818
	857,000		Daikyo, Inc		1,363
	2,595,900		Daiman Development BHD		1,537
	192,946		Daito Trust Construction Co Ltd		27,367
	932,389		Daiwa House Industry Co Ltd		26,208
	741	*,e	Daiwa House REIT Investment Corp		3,247
	704,200	e,g	Dalian Wanda Commercial Properties Co Ltd		4,173
	288,383		DCT Industrial Trust, Inc		11,382
	418,218		DDR Corp		7,440
	292,882		Derwent London plc		13,235
	403,370	*	Deutsche Annington Immobilien SE		14,481
	39,351		Deutsche Euroshop AG.		1,843
	490,340		Deutsche Wohnen AG.		15,217
	834,641		Dexus Property Group		5,068
	1,292,077	*	Deyaar Development PJSC		203
	685,393		DiamondRock Hospitality Co		6,936
	135,728		DIC Asset AG.		1,265
	496,629		Digital Realty Trust, Inc		43,947
	131,498		Dios Fastigheter AB		965
	12,673,855		DLF Ltd		21,953
	72,621	*	Dogus Gayrimenkul Yatirim Ortakligi AS		94
	250,473		Dongwon Development Co Ltd		994
	591,600		DoubleDragon Properties Corp		494
	86,237		Douglas Emmett, Inc		2,597
	47,826		Dream Global Real Estate Investment Trust		321
	25,542		Dream Industrial Real Estate Investment Trust		158
	43,013		Dream Office Real Estate Investment Trust		687
	48,891	*,e	Dream Unlimited Corp		309
	354,463		Duke Realty Corp		7,990
	153,074	e	DuPont Fabros Technology, Inc		6,204
	116,775	e	Dynex Capital, Inc		777
	35,185		Easterly Government Properties, Inc		652

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	740,162		Eastern & Oriental BHD	$	313
	130,768		EastGroup Properties, Inc		7,894
	627,000	*	Eco World Development Group BHD		231
	195,295		Education Realty Trust, Inc		8,124
	3,736,374	*	Emaar Malls Group PJSC		2,928
	6,120,584		Emaar Properties PJSC		10,034
	1,270,921		Emira Property Fund Ltd		1,304
	3,852,477		Emlak Konut Gayrimenkul Yatiri		3,921
	957,333	e	Emperor International Holdings		174
	560,786		Empire State Realty Trust, Inc		9,831
	136,475		Entertainment Properties Trust		9,092
	203,051	e,g	Entra ASA		1,912
	154,683		Equinix, Inc		51,155
	207,855	*	Equity Commonwealth		5,866
	404,007		Equity Lifestyle Properties, Inc		29,383
	236,117	e	Equity One, Inc		6,767
	1,141,204		Equity Residential		85,625
	1,074,710	*	Eshraq Properties Co PJSC		226
	260,520		Essex Property Trust, Inc		60,925
	65,611		Eurobank Properties Real Estate Investment Co		547
	75,831		Eurocommercial Properties NV		3,543
	4,210,000	*	EverChina International Holdings Co. Ltd		135
	19,574,261	e	Evergrande Real Estate Group		15,113
	598,660		Extra Space Storage, Inc		55,951
	863,551		Ezdan Holding Group QSC		4,313
	168,658		Fabege AB		2,842
	4,049,500	e	Fantasia Holdings Group Co Ltd		512
	2,571,407		Far East Consortium		828
	697,500	e	Far East Hospitality Trust		327
	1,124,812		Farglory Land Development Co Ltd		1,294
	144,364	*	Fastighets AB Balder		3,656
	235,226		Federal Realty Investment Trust		36,707
	609,545	e	FelCor Lodging Trust, Inc		4,949
	344,051		Fibra Shop Portafolios Inmobiliarios SAPI de C.V.		341
	4,149,591		Fibra Uno Administracion S.A. de C.V.		9,646
	16,000,000		Filinvest Development Corp		1,744
	55,266,000		Filinvest Land, Inc		2,125
	96,778		First Capital Realty, Inc		1,537
	423,910		First Industrial Realty Trust, Inc		9,640
	206,931		First Potomac Realty Trust		1,875
	673,708	e	First Real Estate Investment Trust		615
	51,816		FirstService Corp		2,128
	8,445		Fonciere Des Regions		796
	554,781		Forest City Realty Trust, Inc		11,700
	85,660	*,e	Forestar Group, Inc		1,117
	661,128	e	Fortress Income Fund Ltd		1,605
	679,429		Fortress Income Fund Ltd (A Shares)		722
	123,136		Four Corners Property Trust, Inc		2,210
	309,679		Foxtons Group plc		724
	280,184		Franklin Street Properties Corp		2,973
	10,126,701		Franshion Properties China Ltd		2,817
	476,600	e	Frasers Centrepoint Trust		707

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	468,900		Frasers Hospitality Trust	$	269
	393	*	Frontier Real Estate Investment Corp		1,888
	21,508	*,e	FRP Holdings, Inc		766
	593	*	Fukuoka REIT Corp		1,072
	3,497,500	*	Fullshare Holdings Ltd		880
	8,136,000		Future Land Development Holdin		1,112
	1,761,086	e	Gaming and Leisure Properties, Inc		54,453
	425,416	e	Gateway Lifestyle		881
	74,306		Gazit Globe Ltd		678
	9,281		Gazit, Inc		132
	1,059,575		GDI Property Group		699
	9,176	e	Gecina S.A.		1,259
	11,110,000	e	Gemdale Properties and Investment Corp Ltd		660
	2,256,096		General Growth Properties, Inc		67,074
	265,762		Geo Group, Inc		9,214
	76,478		Getty Realty Corp		1,517
	86,095		Gladstone Commercial Corp		1,410
	3,831,791		Global Logistic Properties		5,465
	212	*	Global One Real Estate Investment Corp		846
	1,686,373	*	Globe Trade Centre S.A.		3,187
	4,088,895	*	Glorious Property Holdings Ltd		479
	9,559		GLP J-Reit		10,889
	50,826		Godrej Properties Ltd		227
	14,680		Goldcrest Co Ltd		219
	745,300		Golden Land Property Development PCL		149
	1,859,023	e	Goodman Property Trust		1,695
	177,070	e	Government Properties Income Trust		3,161
	961,538		GPT Group (ASE)		3,681
	350,361		Grainger plc		1,139
	1,226,259		Gramercy Property Trust		10,362
	121,755		Grand City Properties S.A.		2,792
	64,571		Granite Real Estate Investment Trust		1,860
	12,538		Great Ajax Corp		140
	517,513		Great Eagle Holdings Ltd		1,873
	475,688		Great Portland Estates plc		4,966
	6,265,329		Green REIT plc		10,043
	1,507,000	e	Greenland Hong Kong Holdings Ltd		471
	2,550,000		Greentown China Holdings Ltd		2,008
	351,451		Growthpoint Properties Australia Ltd		845
	3,139,568		Growthpoint Properties Ltd		5,224
	692,300	*	Grupo GICSA S.A. de C.V.		553
	542,000	*	Guangdong Land Holdings Ltd		155
	3,069,708	e	Guangzhou R&F Properties Co Ltd		4,399
	508,209		H&R Real Estate Investment Trust		8,214
	3,910		Haesung Industrial Co Ltd		57
	52,154		Hamborner AG.		565
	2,139,649		Hammerson plc		17,750
	953,495		Hang Lung Group Ltd		2,737
	13,448,071	e	Hang Lung Properties Ltd		25,675
	444		Hankyu Reit, Inc		542
	89,401		Hannon Armstrong Sustainable Infrastructure Capital, Inc		1,718
	1,722,515	e	Hansteen Holdings plc		2,632

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	278,041		Hatteras Financial Corp	$	3,976
	833,285		HCP, Inc		27,148
	900	*	Health Care & Medical Investment Corp		885
	348,021		Healthcare Realty Trust, Inc		10,750
	381,795		Healthcare Trust of America, Inc		11,232
	29,600		Heiwa Real Estate Co Ltd		368
	200,397		Helical Bar plc		1,111
	85,210		Heliopolis Housing		496
	193,125	e	Hemfosa Fastigheter AB		2,118
	2,047,796		Henderson Land Development Co Ltd		12,592
	133,212		Hersha Hospitality Trust		2,843
	24,832,222		Hibernia REIT plc		36,790
	729,675		Highwealth Construction Corp		1,066
	258,232		Highwoods Properties, Inc		12,346
	69,831	*	Hispania Activos Inmobiliarios SAU		992
	175,000		Ho Bee Investment Ltd		284
	206,200		Hong Fok Corp Ltd		119
	1,054,594		Hongkong Land Holdings Ltd		6,319
	1,120,000	*	Hopson Development Holdings Ltd		1,108
	66	*	Hoshino Resorts REIT, Inc		806
	212,154		Hospitality Properties Trust		5,635
	2,432,176	e	Host Marriott Corp		40,617
	224,034	*	Housing Development & Infrastruture Ltd		247
	85,233	*	Howard Hughes Corp		9,025
	816,235		Huaku Development Co Ltd		1,509
	120,000		Huang Hsiang Construction Co		103
	354,042		Hudson Pacific Properties		10,239
	238,590		Hufvudstaden AB (Series A)		3,774
	3,451	*,e	Hulic Reit, Inc		5,605
	495,362		Hung Poo Real Estate Development Corp		410
	442,000		Hung Sheng Construction Co Ltd		212
	1,322,000		Hydoo International Holding Ltd		181
	681,259		Hyprop Investments Ltd		5,413
	903,752	e	Hysan Development Co Ltd		3,852
	14,810		Icade		1,132
	1,067		Ichigo Real Estate Investment Corp		824
	2,656,000		IGB Real Estate Investment Trust		1,042
	63,200		Iguatemi Empresa de Shopping Centers S.A.		434
	986,090		Immobiliare Grande Distribuzione		897
	1,355,948	*,e,m	Immoeast AG.		0
	658,721	*,e,m	Immofinanz ANSPR NACHB AG.		0
	791,152	*,e	Immofinanz Immobilien Anlagen AG.		1,679
	179,248	e	Independence Realty Trust, Inc		1,276
	193,227		Indiabulls Real Estate Ltd		164
	375	e	Industrial & Infrastructure Fund Investment Corp		1,741
	567,095		ING Office Fund		1,819
	3,491,137	*	Inmobiliaria Colonial S.A.		2,581
	57,995		InnVest Real Estate Investment Trust		234
	30,179		InterRent Real Estate Investment Trust		171
	2,854		Intershop Holding AG.		1,401
	13,775		Intervest Offices		393
	277,452		Invesco Mortgage Capital, Inc		3,379

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,568		Invesco Office J-Reit, Inc	$	3,349
	303,274	e	Investors Real Estate Trust		2,202
	14,711	*,e	Invincible Investment Corp		11,010
	980,693		IOI Properties Group Sdn BHD		580
	384,431	e	Iron Mountain, Inc		13,036
	1,316,257		Is Gayrimenkul Yatirim Ortakligi AS		850
	191,671	*	iStar Financial, Inc		1,852
	1,051	*	Japan Excellent, Inc		1,419
	10,633	e	Japan Hotel REIT Investment Corp		9,358
	2,628	*	Japan Logistics Fund Inc		5,490
	351		Japan Prime Realty Investment Corp		1,430
	410		Japan Real Estate Investment Corp		2,367
	17,948		Japan Rental Housing Investments, Inc		13,244
	812		Japan Retail Fund Investment Corp		1,950
	994	*	Japan Senior Living Investment Corp		1,432
	1,596,750	m	Jiangsu Future Land Co Ltd		2,810
	120,010		Jones Lang LaSalle, Inc		14,080
	34,700	e	Jowa Holdings Co Ltd		1,492
	13,000,000		Joy City Property Ltd		1,980
	2,064,000		K Wah International Holdings Ltd		910
	328,480		KEE TAI Properties Co Ltd		168
	901		Kenedix Realty Investment Corp		5,165
	975	e	Kenedix Residential Investment Corp		2,564
	862	*	Kenedix Retail REIT Corp		2,089
	574,000	e	Kenedix, Inc		2,506
	306,049		Kennedy-Wilson Holdings, Inc		6,702
	522,100	e	Keppel DC REIT		411
	3,225,035		Kerry Properties Ltd		8,855
	99,859		Killam Apartment Real Estate Investment Trust		900
	222,219		Kilroy Realty Corp		13,749
	356,821		Kimco Realty Corp		10,269
	1,480,000		Kindom Construction Co		747
	204,887		Kite Realty Group Trust		5,677
	2,417,162	e	Kiwi Property Group Ltd		2,416
	79,600		KLCC Property Holdings BHD		146
	81,728		Klepierre		3,904
	711,849		Klovern AB (B Shares)		805
	51,821		Korea Real Estate Investment Trust Co		157
	3,369,130	e	Kowloon Development Co Ltd		3,149
	2,172,638	e	K-REIT Asia		1,603
	421,249		KSL Holdings BHD		143
	334,699		Kungsleden AB		2,367
	390,185		Kuoyang Construction Co Ltd		145
	2,133,624		KWG Property Holding Ltd		1,404
	109,319	e	Ladder Capital Corp		1,361
	84,689,163		Lai Fung Holdings Ltd		1,334
	40,358,250		Lai Sun Development Co Ltd		619
	125,243		Lamar Advertising Co		7,702
	39,121	*	Lamda Development S.A.		180
	733,366		Land Securities Group plc		11,563
	5,157,000	e	Langham Hospitality Investments Ltd		1,831
	49,964	e	Lar Espana Real Estate Socimi S.A.		474

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	361,994		LaSalle Hotel Properties	$	9,162
	5,066	*	LaSalle Logiport REIT		4,893
	63,937		LEG Immobilien AG.		6,016
	697,649		Lend Lease Corp Ltd		7,406
	375,611		Leopalace21 Corp		2,267
	726,439	e	Lexington Realty Trust		6,247
	360,473	e	Liberty International plc		1,616
	132,012		Liberty Property Trust		4,417
	26,471	*	Lifestyle Properties Development Ltd		6
	1,507,781		Link REIT		8,957
	1,576,600		Lippo-Mapletree Indonesia Retail Trust		380
	340,000		Liu Chong Hing Investment		388
	3,176,000		Logan Property Holdings Co Ltd		1,182
	507,600		London & Stamford Property plc		1,154
	283,000		Long Bon International Co Ltd		166
	3,849,120		Longfor Properties Co Ltd		5,476
	544,800		LPN Development PCL		217
	236,275		LSR Group (GDR)		538
	108,698		LTC Properties, Inc		4,917
	568,000	*	LVGEM China Real Estate Investment Co Ltd		172
	153,823		Macerich Co		12,189
	327,331		Mack-Cali Realty Corp		7,692
	857,347		Macquarie CountryWide Trust		3,013
	2,945,614		Macquarie Goodman Group		15,065
	1,630,690		Macquarie MEAG Prime REIT		944
	2,036,076		Mah Sing Group BHD		742
	35,779	*,e,m	Mapeley Ltd		1
	1,224,087	e	Mapletree Commercial Trust		1,282
	1,849,000		Mapletree Greater China Commercial Trust		1,310
	3,868,019		Mapletree Industrial Trust		4,576
	1,235,005		Mapletree Logistics Trust		924
	132,753	*	Marcus & Millichap, Inc		3,371
	887,508		Matrix Concepts Holdings BHD		564
	25,204		Mazaya Qatar Real Estate Development Q.S.C		97
	576,969		Medical Properties Trust, Inc		7,489
	156,670	*	Medinet Nasr Housing		394
	28,016,600		Megaworld Corp		2,526
	44,957		Melisron Ltd		1,622
	49,350	e	Mercialys S.A		1,144
	369,121		Merlin Properties Socimi S.A.		4,278
	1,976,800		Mexico Real Estate Management S.A. de C.V.		2,665
	759,398		MFA Mortgage Investments, Inc		5,202
	836	*	MID Reit, Inc		2,509
	184,219		Mid-America Apartment Communities, Inc		18,829
	1,386,929	*	Midland Holdings Ltd		433
	176,496		Milestone Apartments Real Estate Investment Trust		2,256
	1,412,000	e	Minmetals Land Ltd		142
	1,988,115		Mirvac Group		2,946
	865,580		Mitsubishi Estate Co Ltd		16,065
	1,931,241		Mitsui Fudosan Co Ltd		48,103
	216,400		MKH BHD		141
	5,257		Mobimo Holding AG.		1,280

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	232,575		Monmouth Real Estate Investment Corp (Class A)	$	2,765
	526,018	e	Monogram Residential Trust, Inc		5,187
	26,846		Morguard Real Estate Investment Trust		300
	1,827		Mori Hills REIT Investment Corp		2,703
	2,725		Mori Trust Sogo Reit, Inc		4,709
	85,034		Multiplan Empreendimentos Imobiliarios S.A.		1,270
	173,407		National Health Investors, Inc		11,535
	146,613	e	National Retail Properties, Inc		6,774
	155,321		National Storage Affiliates Trust		3,293
	3,634,000	e	Neo-China Land Group Holdings Ltd		685
	304,000		New Century Real Estate Investment Trust		112
	315,939		New Europe Property Investments plc		4,019
	763,074		New Residential Investment Corp		8,875
	257,649	e	New Senior Investment Group, Inc		2,654
	3,164,614		New World China Land Ltd		3,225
	15,881,945		New World Development Co Ltd		15,158
	265,757	e	New York Mortgage Trust, Inc		1,260
	368,197		New York REIT, Inc		3,719
	528,015		NewRiver Retail Ltd		2,514
	96,530		Nexity		5,024
	93,594	e	NexPoint Residential Trust, Inc		1,225
	107,307		Nieuwe Steen Investments NV		509
	395		Nippon Accommodations Fund, Inc		1,523
	492		Nippon Building Fund, Inc		2,913
	900	*	Nippon Healthcare Investment Corp		1,591
	1,505		Nippon ProLogis REIT, Inc		3,365
	4,109	*,e	NIPPON REIT Investment Corp		10,768
	775,701		Nomura Real Estate Holdings, Inc		14,319
	4,609	*	Nomura Real Estate Master Fund, Inc		6,861
	106,905		NorthStar Realty Europe Corp		1,240
	2,482,398		NorthStar Realty Finance Corp		32,569
	19,294		Northview Apartment Real Estate Investment Trust		278
	109,245		NorthWest Healthcare Properties Real Estate Investment Trust		811
	214,350	*	Norwegian Property ASA		223
	130,836		NTT Urban Development Corp		1,280
	108,148		Oberoi Realty Ltd		394
	489,995		Omega Healthcare Investors, Inc		17,297
	44,628	e	One Liberty Properties, Inc		1,000
	100,700		Open House Co Ltd		2,000
	51,909	e	Orchid Island Capital, Inc		538
	6,787	*	Orix JREIT, Inc		10,520
	636,300	e	OUE Hospitality Trust		312
	256,269		Outfront Media, Inc		5,407
	6,297,523	*	Palm Hills Developments SAE		2,057
	367,900		Paramount Group, Inc		5,868
	316,600	e	Parkway Life Real Estate Investment Trust		561
	212,477		Parkway Properties, Inc		3,327
	2,140,638		Parque Arauco S.A.		3,928
	69,032	*	Patrizia Immobilien AG.		1,931
	696,100		Pavilion Real Estate Investment Trust		303
	248,962		Pebblebrook Hotel Trust		7,237

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	174,339		Pennsylvania REIT	$	3,809
	178,306		Pennymac Mortgage Investment Trust		2,432
	353,600	*,e	Perennial Real Estate Holdings Ltd		241
	1,491,129		Phoenix Mills Ltd		6,762
	264,787		Physicians Realty Trust		4,920
	92,564		Piedmont Office Realty Trust, Inc		1,880
	8,240,000	*	Ping An Securities Group Holdings Ltd		149
	1,609,500		PLA Administradora Industrial S de RL de C.V.		2,984
	1,092,900		Platinum Group PCL		169
	698	*	Plazza AG.		149
	2,101,817		Poly Hong Kong Investment Ltd		575
	7,951,160		Polytec Asset Holdings Ltd		666
	252,345		Post Properties, Inc		15,075
	98,110		Potlatch Corp		3,090
	3,910,000		Powerlong Real Estate Holdings Ltd		819
	1,234,477	e	Precinct Properties New Zealand Ltd		1,070
	56,255	e	Preferred Apartment Communities, Inc		713
	2,029	*	Premier Investment Co		2,506
	475,829	e	Primary Health Properties plc		697
	2,389,826		Prince Housing & Development Corp		887
	709,800		ProLogis Property Mexico S.A. de C.V.		1,127
	1,583,486		Prologis, Inc		69,958
	2,483,000		Prosperity REIT		925
	87,242		PS Business Parks, Inc		8,769
	40,406		PSP Swiss Property AG.		3,885
	5,822,700		PT Agung Podomoro Land Tbk		131
	9,616,500		PT Alam Sutera Realty Tbk		270
	4,701,900		PT Bekasi Fajar Industrial Estate Tbk		96
	6,065,627		PT Bumi Serpong Damai		839
	30,351,231		PT Ciputra Development Tbk		2,985
	13,232,143		PT Ciputra Property Tbk		403
	2,836,364		PT Ciputra Surya Tbk		426
	5,637,500		PT Intiland Development Tbk		223
	101,850,830		PT Kawasan Industri Jababeka Tbk		1,995
	407,700	*	PT Lippo Cikarang Tbk		217
	48,962,997		PT Lippo Karawaci Tbk		3,856
	22,264,900		PT Modernland Realty Tbk		675
	40,722,800		PT Pakuwon Jati Tbk		1,485
	9,531,600		PT Summarecon Agung Tbk		1,139
	467,156		Public Storage, Inc		128,856
	4,346,170	*	Puravankara Projects Ltd		3,109
	275,296		Pure Industrial Real Estate Trust		1,009
	1,249,333	*,e	Purplebricks Group plc		2,337
	71,208		QTS Realty Trust, Inc		3,374
	16,573,469		Quality House PCL		1,109
	625,433		Radium Life Tech Co Ltd		205
	295,107	e	RAIT Investment Trust		927
	995,495		RAK Properties PJSC		155
	397,415		Ramco-Gershenson Properties		7,165
	209,787		Rayonier, Inc		5,178
	53,900		Raysum Co Ltd		496
	28,957		Re/Max Holdings, Inc		993

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,142,499	*	Realogy Holdings Corp	$	41,256
	205,141	e	Realty Income Corp		12,823
	916,525	e	Rebosis Property Fund Ltd		670
	918,000	e,g	Redco Properties Group Ltd		663
	2,270,415		Redefine International plc		1,537
	11,844,438		Redefine Properties Ltd		9,579
	241,415	e	Redwood Trust, Inc		3,158
	26,061,000	e	Regal Real Estate Investment Trust		6,658
	416,346		Regency Centers Corp		31,163
	297,989		Reit  Ltd		844
	18,800		Relo Holdings, Inc		2,513
	14,209,250	*,e	Renhe Commercial Holdings Co Ltd		568
	652,376		Resilient REIT Ltd		5,987
	81,094	e	Resource Capital Corp		912
	491,005		Retail Opportunities Investment Corp		9,879
	322,838		Retail Properties of America, Inc		5,117
	282,304		Rexford Industrial Realty, Inc		5,127
	252,492		RioCan Real Estate Investment Trust		5,171
	431,957		RLJ Lodging Trust		9,883
	47,447	*,e	RMR Group, Inc		1,187
	466,000		Road King Infrastructure		377
	564,500		Robinsons Land Corp		342
	668,484		Rojana Industrial Park PCL		103
	90,431		Rouse Properties, Inc		1,662
	1,894,251		Ruentex Development Co Ltd		2,397
	104,730	e	Ryman Hospitality Properties		5,391
	4,142,189		S.A. Corporate Real Estate Fund Nominees Pty Ltd		1,355
	1,066,240	e	Sabana Shari’ah Compliant Industrial REIT		498
	341,027		Sabra Healthcare REIT, Inc		6,851
	710,250		Safestore Holdings plc		3,424
	900	*	Samty Residential Investment Corp		785
	4,964,277		Sansiri PCL		215
	27,165		Saul Centers, Inc		1,440
	290,887		Savills plc		3,165
	1,344,900		SC Asset Corp PCL		126
	10,180,537		Scentre Group		34,655
	468,279		Schroder Real Estate Investment Trust Ltd		409
	1,085,227		Segro plc		6,383
	1,173	*,e	Sekisui House Reit, Inc		1,350
	884		Sekisui House SI Residential Investment Corp		908
	147,797		Select Income REIT		3,407
	28,501		Selvaag Bolig ASA		87
	206,787		Senior Housing Properties Trust		3,699
	673,132		Shaftesbury plc		8,781
	735,800	m	Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		2,464
	19,995,430	*	Shanghai Real Estate Ltd		606
	103,400	*	Shenzhen International Enterprise Co Ltd		153
	14,715,668		Shenzhen Investment Ltd		5,849
	233,100	*	Shenzhen SEG Co Ltd		175
	5,331,825		Shimao Property Holdings Ltd		7,907
	352,913	*	Shining Building Business Co Ltd		135

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	150,932		Shoei Co Ltd	$	1,439
	623,156		Shopping Centres Australasia Property Group		1,093
	20,725,167		Shui On Land Ltd		5,596
	550	*	SIA Reit, Inc		2,171
	2,251,716		Siam Future Development PCL		380
	295,977	e	Silver Bay Realty Trust Corp		4,395
	1,230,095		Simon Property Group, Inc		255,478
	8,249,422	e	Sino Land Co		13,104
	1,834,000	*	Sinolink Worldwide Holdings Ltd		206
	19,299,017		Sino-Ocean Land Holdings Ltd		9,146
	209,614		Sinyi Realty Co		179
	171,071	*	Six of October Development & Investment		232
	2,799		SK D&D Co Ltd		140
	429,191		SL Green Realty Corp		41,580
	13,965,516		SM Prime Holdings		6,661
	63,884		Smart Real Estate Investment Trust		1,669
	1,361,074	*	Sobha Developers Ltd		5,630
	2,930,850	e	Soho China Ltd		1,402
	566,600		Soilbuild Business Space REIT		307
	65,600		Sonae Sierra Brasil S.A.		290
	168,649		Sovran Self Storage, Inc		19,892
	101,980		Sparkassen Immobilien AG.		944
	1,467,400		SPH REIT		1,050
	732,309		Spirit Realty Capital, Inc		8,238
	559,446		Sponda Oyj		2,354
	111,889	*,m	Sponda Oyj (Interim)		471
	1,086,000	e	Spring Real Estate Investment Trust		457
	455,927		ST Modwen Properties plc		1,981
	131,370	*,e	St. Joe Co		2,253
	224,048	*	STAG Industrial, Inc		4,562
	2,200	*	Starts Proceed Investment Corp		3,444
	584,469		Starwood Property Trust, Inc		11,064
	3,514,879		Stockland Trust Group		11,499
	192,599		STORE Capital Corp		4,984
	14,940		Sumitomo Real Estate Sales Co Ltd		287
	437,286		Sumitomo Realty & Development Co Ltd		12,782
	409,028		Summit Hotel Properties, Inc		4,896
	146,290	e	Sun Communities, Inc		10,476
	21,100	e	Sun Frontier Fudousan Co Ltd		213
	3,843,620		Sun Hung Kai Properties Ltd		47,033
	2,265,000	e	Sunac China Holdings Ltd		1,526
	2,330,000		Sunlight Real Estate Investment Trust		1,199
	980,450		Sunstone Hotel Investors, Inc		13,726
	1,911,198		Suntec Real Estate Investment Trust		2,375
	1,828,634	*	Sunteck Realty Ltd		6,272
	601,058		Sunway BHD		484
	1,061,900		Sunway Real Estate Investment		435
	492,400		Supalai PCL		262
	841,193		Swire Pacific Ltd (Class A)		9,073
	4,894,301		Swire Properties Ltd		13,248
	63,351	*	Swiss Prime Site AG.		5,582
	86,619	e	TAG Tegernsee Immobilien und Beteiligungs AG.		1,170

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	583,534		Taiwan Land Development Corp	$	212
	82,000		Takara Leben Co Ltd		485
	927,571		Talaat Moustafa Group		664
	154,877		Tanger Factory Outlet Centers, Inc		5,636
	225,766		Taubman Centers, Inc		16,081
	74,549	e	Technopolis plc		318
	33,023	*,e	Tejon Ranch Co		679
	132,741		Terreno Realty Corp		3,113
	298,000		Tian Shan Development Holding Ltd		123
	638,080		Ticon Industrial Connection PCL (Foreign)		217
	157,352		TLG Immobilien AG.		3,430
	41,600		TOC Co Ltd		352
	831,700		Tokyo Tatemono Co Ltd		10,345
	111,315		Tokyu Fudosan Holdings Corp		756
	908	*,e	Tokyu REIT, Inc		1,244
	645		Top REIT Inc		2,546
	1,041,000		Top Spring International Holdings Ltd		470
	478,611		Torunlar Gayrimenkul Yatirim Ortakligi AS		751
	1,508,400		Tosei Corp		10,917
	2,400	*	Tosei Reit Investment Corp		2,683
	2,034,821		Tritax Big Box REIT plc		3,931
	493,887		Tuan Sing Holdings Ltd		122
	801,745		Two Harbors Investment Corp		6,366
	270,716,596	*	U City PCL		231
	272,766		UDR, Inc		10,510
	1,245,800		UEM Land Holdings BHD		364
	70,939	e	UMH Properties, Inc		704
	109,109		Unibail-Rodamco		29,924
	853,715		Union Properties PJSC		198
	673,797		Unite Group plc		6,148
	75,185,759	*	Unitech Ltd		5,620
	234,971		United Development Co PSC		1,272
	76,104	e,m	United Development Funding IV		244
	3,267		United Urban Investment Corp		5,277
	699,400		Univentures PCL		136
	29,507		Universal Health Realty Income Trust		1,660
	895,348		UOA Development BHD		487
	190,840	e	UOL Group Ltd		850
	216,195		Urban Edge Properties		5,586
	72,588		Urstadt Biddle Properties, Inc (Class A)		1,521
	15,882		Vastned Retail NV		710
	831,743	e	Ventas, Inc		52,367
	772,669		VEREIT, Inc		6,854
	3,726,861		Vicinity Centres		9,109
	3,628,100		Vista Land & Lifescapes, Inc		367
	232,999		Vornado Realty Trust		22,002
	1,552,001		Vukile Property Fund Ltd		1,785
	157,243		Wallenstam AB		1,357
	39,340		Warehouses De Pauw SCA		3,736
	164,095		Washington REIT		4,793
	72,711		Weingarten Realty Investors		2,728
	510,030		Welltower, Inc		35,365

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	38,223		Wereldhave NV	$	2,134
	104,879	e	Western Asset Mortgage Capital Corp		1,054
	2,261,323		Westfield Corp		17,314
	1,750,516		Weyerhaeuser Co		54,231
	5,416,235	*	WHA Corp PCL		480
	8,099,827	e	Wharf Holdings Ltd		44,367
	2,083,064		Wheelock & Co Ltd		9,308
	140,186		Whitestone REIT		1,762
	219,537		Wihlborgs Fastigheter AB		4,656
	345,632	e	Wing Tai Holdings Ltd		451
	298,801		Workspace Group plc		3,356
	100,284		WP Carey, Inc		6,242
	1,584,625		WP GLIMCHER, Inc		15,038
	322,914		Xenia Hotels & Resorts, Inc		5,044
	1,699,000	e	Yanlord Land Group Ltd		1,539
	788,200	*	Ying Li International Real Estate Ltd		83
	12,080	*	YNH Property BHD		6
	904,066	*,e	Yoma Strategic Holdings Ltd		346
	495,700		YTL Hospitality REIT		135
	3,389,000	e	Yuexiu Real Estate Investment Trust		1,883
	34,052,793	e	Yuexiul Property Co Ltd		4,919
	4,907,120		Yuzhou Properties Co		1,292
	3,671,800		Zhong An Real Estate Ltd		346
			TOTAL REAL ESTATE		4,486,602
RETAILING - 4.3%
	121,722	*	1-800-FLOWERS.COM, Inc (Class A)		959
	169,958		Aaron’s, Inc		4,266
	18,239		ABC-Mart, Inc		1,167
	348,950	e	Abercrombie & Fitch Co (Class A)		11,006
	68,400		Adastria Holdings Co Ltd		2,075
	120,466		Advance Auto Parts, Inc		19,316
	14,100	e	Alpen Co Ltd		232
	1,296,342	*	Amazon.com, Inc		769,560
	442,285	e	American Eagle Outfitters, Inc		7,373
	21,196	*,e	America’s Car-Mart, Inc		530
	152,667	*,e	AO World plc		392
	42,900		AOKI Holdings, Inc		518
	38,041		Aoyama Trading Co Ltd		1,460
	29,063	*	Applegreen plc		154
	105,200		Arc Land Sakamoto Co Ltd		1,113
	97,483	*	Asbury Automotive Group, Inc		5,833
	1,812,316	*,e	Ascena Retail Group, Inc		20,044
	19,400	e	ASKUL Corp		789
	203,448	*	ASOS plc		9,483
	51,488	e	Autobacs Seven Co Ltd		869
	22,174	e	AutoCanada, Inc		311
	265,012		Automotive Holdings Group Ltd		831
	49,461	*,e	Autonation, Inc		2,309
	111,275	*	AutoZone, Inc		88,652
	4,317,697		B&M European Value Retail S.A.		16,458
	130,600	*	B2W Companhia Global Do Varejo		519

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,610,500	e	Baoxin Auto Group Ltd	$	2,285
	106,314	*,e	Barnes & Noble Education, Inc		1,042
	302,014		Barnes & Noble, Inc		3,733
	15,180,210		Beauty Community PCL (ADR)		2,328
	1,667,400		Beauty Community PCL (Foreign)		256
	349,443	*	Bed Bath & Beyond, Inc		17,346
	86,400		Belluna Co Ltd		438
	1,447,360		Berjaya Auto BHD		805
	2,742,911		Best Buy Co, Inc		88,980
	69,500		BIC CAMERA, Inc		630
	42,286		Big 5 Sporting Goods Corp		470
	350,640		Big Lots, Inc		15,880
	155,991		Bilia AB		3,492
	57,663		Blue Nile, Inc		1,483
	586,123	*,e	boohoo.com plc		377
	32,138	*,e	Boot Barn Holdings, Inc		302
	537,000	*,e,m	Boshiwa International Holding		1
	70,015	e	Buckle, Inc		2,371
	32,936	*	Build-A-Bear Workshop, Inc		428
	224,959	*	Burlington Stores, Inc		12,652
	192,722		Burson Group Ltd		680
	195,577		Byggmax Group AB		1,793
	126,219	*,e	Cabela’s, Inc		6,146
	178,917		Caleres, Inc		5,062
	102,515		Canadian Tire Corp Ltd		10,671
	183,100		Canon Marketing Japan, Inc		3,197
	614,251		Card Factory plc		2,885
	1,211,749	*,e	Carmax, Inc		61,920
	18,128		Cashbuild Ltd		398
	64,133		Cato Corp (Class A)		2,472
	577,732		Chico’s FAS, Inc		7,667
	84,351		Children’s Place Retail Stores, Inc		7,041
	224,000	*	China Animation Characters Co Ltd		81
	2,104,000	*	China Beidahuang Industry Group Holdings Ltd		126
	1,367,500		China Harmony New Energy Auto Holding Ltd		728
	2,200,000	e	China Yongda Automobiles Services Holdings Ltd		1,298
	8,583,500	e	China ZhengTong Auto Services Holdings Ltd		3,284
	21,900		Chiyoda Co Ltd		630
	13,300		Chori Co Ltd		172
	613,000	e	Chow Sang Sang Holding		924
	138,100		Cia Hering		565
	120,549		Citi Trends, Inc		2,149
	37,013		CJ O Shopping Co Ltd		6,409
	107,787		Clas Ohlson AB (B Shares)		2,057
	395,000	*,e,g	Cogobuy Group		539
	56,111	*,e	Conn’s, Inc		699
	4,041,054	*,a,e	Container Store Group, Inc		23,721
	82,421		Core-Mark Holding Co, Inc		6,722
	338,871		CST Brands, Inc		12,975
	541,134	*,e	Ctrip.com International Ltd (ADR)		23,951
	800,000	e	Dah Chong Hong Holdings Ltd		326
	1,220,000		Daohe Global Group Ltd		140

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	524,500	e	DCM Japan Holdings Co Ltd	$	3,791
	985,722		Debenhams plc		1,064
	32,377		Delek Automotive Systems Ltd		313
	5,316	e	Delticom AG.		97
	96,556	*	Destination XL Group, Inc		499
	190,029	b,e,m	Dick Smith Holdings Ltd		1
	1,131,051		Dick’s Sporting Goods, Inc		52,877
	492,286		Dickson Concepts International Ltd		143
	23,894		Dieteren S.A.		1,005
	70,146	e	Dillard’s, Inc (Class A)		5,956
	55,422		Dogus Otomotiv Servis ve Ticaret AS		248
	1,050,699		Dollar General Corp		89,940
	732,741	*	Dollar Tree, Inc		60,422
	306,440		Dollarama, Inc		21,563
	106,200		Don Quijote Co Ltd		3,688
	19,500		Doshisha Co Ltd		359
	111,016	e	DSW, Inc (Class A)		3,068
	32,531	*	Dufry Group		3,995
	17,407	*,e	Duluth Holdings, Inc		339
	153,613		Dunelm Group plc		2,015
	36,385	g	Dustin Group AB		264
	26,300	*,e	E-Commerce China Dangdang, Inc (ADR)		188
	236,783	e	EDION Corp		1,794
	228,476	e	El Puerto de Liverpool SAB de C.V.		2,701
	5,540,000		Emperor Watch & Jewellery Ltd		136
	2,600,000	*	Empresas La Polar S.A.		130
	1,497,400		Esprit Holdings Ltd		1,400
	51,009	*,e	Etsy, Inc		444
	79,758	*,g	Europris ASA		375
	810,267		Expedia, Inc		87,363
	1,820,593	*	Express Parent LLC		38,979
	888,867		Far Eastern Department Stores Co Ltd		467
	38,075		Fast Retailing Co Ltd		12,166
	31,411	*,e	Fenix Parts, Inc		144
	216,287		Finish Line, Inc (Class A)		4,564
	132,288	*,e	Five Below, Inc		5,469
	31,491	*	Folli Follie S.A.		618
	531,318	e	Foot Locker, Inc		34,270
	226,124		Foschini Ltd		2,163
	108,262	*	Francesca’s Holdings Corp		2,074
	91,502	e	Fred’s, Inc (Class A)		1,364
	43,018	*	FTD Cos, Inc		1,129
	15,300		Fuji Co Ltd		315
	174,500	e	GAME Digital plc		313
	1,622,463	e	GameStop Corp (Class A)		51,481
	543,415	e	Gap, Inc		15,976
	59,519	*	Genesco, Inc		4,300
	214,699		Genuine Parts Co		21,332
	162,100	e	Geo Corp		2,694
	2,382,000		Giordano International Ltd		1,091
	330,302	e	GNC Holdings, Inc		10,487
	478,799	e	Golden Eagle Retail Group Ltd		562

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	576,000		Goldlion Holdings Ltd	$	220
	213,368		GOLFZONYUWONHOLDINGS Co Ltd		1,625
	14,414,577	e	GOME Electrical Appliances Holdings Ltd		2,082
	99,134		Group 1 Automotive, Inc		5,818
	22,066	*	Groupe Fnac		1,386
	3,986,594	*,e	Groupon, Inc		15,907
	842,527	*,e	Grupo Famsa SAB de C.V.		730
	10,950		GS Home Shopping, Inc		1,777
	151,264	e	Guess?, Inc		2,839
	48,500	e	Gulliver International Co Ltd		604
	649		GwangjuShinsegae Co Ltd		151
	167,053		Halfords Group plc		947
	58,150,000	e	Hang Fat Ginseng Holdings Co Ltd		368
	292,925	e	Hankyu Department Stores, Inc		5,053
	1,824		Hanwha Galleria Timeworld Co Ltd		107
	13,100	e	Happinet Corp		119
	2,131,977		Harvey Norman Holdings Ltd		7,670
	49,219		Haverty Furniture Cos, Inc		1,041
	11,890,762	e	Hengdeli Holdings Ltd		981
	790,525		Hennes & Mauritz AB (B Shares)		26,312
	56,296	*,e	Hibbett Sports, Inc		2,021
	16,300		Hikari Tsushin, Inc		1,240
	5,396,660		Home Depot, Inc		720,076
	3,728,246		Home Product Center PCL (Foreign)		874
	964,446		Home Retail Group		2,295
	7,445		Hornbach Baumarkt AG.		240
	278,196		Hotai Motor Co Ltd		3,059
	36,466		Hotel Shilla Co Ltd		2,123
	77,877		HSN, Inc		4,074
	129,104	e	Hudson’s Bay Co		1,908
	15,415		Hyundai Department Store Co Ltd		1,854
	5,325		Hyundai Home Shopping Network Corp		607
	287,604	e	Imperial Holdings Ltd		2,930
	957,597		Inchcape plc		9,932
	1,248,043		Inditex S.A.		41,834
	35,725		Interpark Corp		294
	9,537		Interpark INT Corp		168
	23,562,865	*	Intime Retail Group Co Ltd		19,193
	83,028		Isetan Mitsukoshi Holdings Ltd		969
	756,000		IT Ltd		183
	30,000		Izumi Co Ltd		1,295
	740,719		J Front Retailing Co Ltd		9,829
	176,909		Jardine Cycle & Carriage Ltd		5,253
	441,774	e	JB Hi-Fi Ltd		7,977
	5,621,206	*,e	JC Penney Co, Inc		62,171
	621,343	*,e	JD.com, Inc (ADR)		16,466
	10,700	e	Jin Co Ltd		418
	49,071		John Menzies plc		335
	100,000		Joshin Denki Co Ltd		769
	24,800	e	Joyful Honda Co Ltd		556
	111,419		JUMBO S.A.		1,505
	40,300	*,e	Jumei International Holding Ltd (ADR)		262

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	136,861		KappAhl Holding AB	$	544
	75,187	e	Keiyo Co Ltd		340
	2,561,373		Kingfisher plc		13,815
	44,063		Kirkland’s, Inc		772
	382,172		Kohl’s Corp		17,813
	130,900	e	Kohnan Shoji Co Ltd		1,946
	18,699		Kolao Holdings		155
	31,200		Komeri Co Ltd		638
	511,000	e	Koradior Holdings Ltd		807
	93,463	e	K’s Holdings Corp		3,096
	372,019		L Brands, Inc		32,667
	38,726	*,e	Lands’ End, Inc		988
	227,000	*,e	Laox Co Ltd		272
	58,527		LEADCORP, Inc		470
	274,903	e	Lewis Group Ltd		875
	5,717,119	e	Li & Fung Ltd		3,387
	1,551,363	*	Liberty Interactive Corp		39,172
	314,878	*	Liberty TripAdvisor Holdings, Inc		6,978
	336,693	*	Liberty Ventures		13,171
	55,980		Lithia Motors, Inc (Class A)		4,889
	745,243	*	LKQ Corp		23,796
	72,284		Lojas Americanas S.A.		231
	629,284		Lojas Americanas S.A.(Preference)		2,909
	697,820		Lojas Renner S.A.		4,035
	691,808		Lookers plc		1,573
	24,589		LOTTE Himart Co Ltd		1,100
	10,704		Lotte Shopping Co Ltd		2,351
	4,011,589		Lowe’s Companies, Inc		303,878
	502,000	e	Luk Fook Holdings International Ltd		1,140
	66,934	*,e	Lumber Liquidators, Inc		878
	888,412		Macy’s, Inc		39,170
	1,226,000	e	Maoye International Holdings Ltd		122
	62,148	*	MarineMax, Inc		1,210
	59,290		Marisa Lojas S.A.		114
	3,119,120	e	Marks & Spencer Group plc		18,176
	490,623	e	Marui Co Ltd		7,030
	31,850		Matas A.S.		644
	27,800		Matsuya Co Ltd		255
	48,479	*,e	Mattress Firm Holding Corp		2,055
	360,900		MBM Resources BHD		204
	21,826	e	Mekonomen AB		540
	1,724,099		MFI Furniture plc		11,834
	575,944	*	Michaels Cos, Inc		16,109
	504,880	*	Mobile World Investment Corp		1,710
	46,712		Mobilezone Holding AG.		704
	34,000		momo.com, Inc		226
	77,193		Monro Muffler, Inc		5,517
	195,432	*	Mothercare plc		511
	276,280		Mr Price Group Ltd		3,317
	374,058	*	Murphy USA, Inc		22,986
	1,463,360	e	Myer Holdings Ltd		1,318
	135,555		N Brown Group plc		636

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	376,000		National Petroleum Co Ltd	$	424
	1,224,701	*	NetFlix, Inc		125,201
	851,387		New Carphone Warehouse plc		5,203
	537,000		New World Department Store China Ltd		71
	290,524		Next plc		22,499
	39,300		Nishimatsuya Chain Co Ltd		394
	17,212		Nitori Co Ltd		1,575
	95,300	e	Nojima Corp		1,038
	179,720	e	Nordstrom, Inc		10,282
	1,489	*	NS Shopping Co Ltd		245
	206,059		Nutri/System, Inc		4,300
	430,684	*,e	Ocado Ltd		1,791
	4,421,844	*	Office Depot, Inc		31,395
	24,567	*,e	Ollie’s Bargain Outlet Holdings, Inc		576
	571,100	*,g	On the Beach Group plc		2,132
	354,046	*	O’Reilly Automotive, Inc		96,888
	238,200	e	OSIM International Ltd		242
	43,681	e	Outerwall, Inc		1,616
	29,886	*,e	Overstock.com, Inc		430
	2,707,499		Pacific Brands Ltd		2,138
	1,350,100		Padini Holdings BHD		716
	10,600		Pal Co Ltd		265
	136,300		Paltac Corp		2,412
	544,934		Pantaloon Retail India Ltd		1,057
	17,700		Parco Co Ltd		150
	325,216	*	Parkson Holdings BHD		86
	985,500	e	Parkson Retail Group Ltd		106
	59,438	*,e	Party City Holdco, Inc		894
	98,382		PC Jeweller Ltd		539
	83,505		Penske Auto Group, Inc		3,165
	47,691	e	PetMed Express, Inc		854
	335,314		Pets at Home Group plc		1,296
	361,630	e	Pier 1 Imports, Inc		2,535
	6,569,500	*,e	Pou Sheng International Holdings Ltd		1,423
	173,315		Poundland Group plc		388
	47,810		Poya Co Ltd		508
	97,524		PPR		17,412
	75,000		Premier Investments Ltd		972
	150,809	*	Priceline.com, Inc		194,387
	11,053,600		PT ACE Hardware Indonesia Tbk		746
	7,515,636		PT Matahari Department Store Tbk		10,400
	718,700		PT Mitra Adiperkasa Tbk		260
	20,569,600		PT Multipolar Corp Tbk		599
	9,160,400		PT Ramayana Lestari Sentosa Tbk		490
	2,958,200		PT Tiphone Mobile Indonesia Tbk		168
	1,979,500		PTG Energy PCL		782
	31,300	*,e	Qunar Cayman Islands Ltd (ADR)		1,243
	1,290,723		Rakuten, Inc		12,459
	224,551	e	RCG Corp Ltd		272
	225,605		Rent-A-Center, Inc		3,576
	79,984	*,e	Restoration Hardware Holdings, Inc		3,351
	1,741,164		Ripley Corp S.A.		791

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	172,035	e	RONA, Inc	$	3,135
	903,237		Ross Stores, Inc		52,297
	43,900		Ryohin Keikaku Co Ltd		9,275
	911,184	e	SA SA International Holdings Ltd		283
	529,221		SACI Falabella		3,695
	631,594	*	Sally Beauty Holdings, Inc		20,451
	49,158	e	Sanrio Co Ltd		961
	32,425	*	Sears Canada, Inc		91
	22,250	*,e	Sears Holdings Corp		341
	184,014	*	Select Comfort Corp		3,568
	290,000		Senao International Co Ltd		389
	18,600	e	Senshukai Co Ltd		119
	11,791	*	Seobu Truck Terminal Co Ltd		229
	35,100	e	Seria Co Ltd		2,120
	164,200	e	Shimachu Co Ltd		3,917
	20,503		Shimamura Co Ltd		2,559
	27,076		Shinsegae Co Ltd		4,810
	2,331		Shinsegae International Co Ltd		178
	40,869		Shoe Carnival, Inc		1,102
	20,931		Shopper’s Stop Ltd		115
	85,597	*	Shutterfly, Inc		3,969
	1,111,169		Siam Global House PCL		322
	1,445,000		Sichuan Xinhua Winshare Chainstore Co Ltd		1,253
	621,319		Signet Jewelers Ltd		77,062
	1,630,000		Sincere Watch Hong Kong Ltd		105
	15,135	g	Sleep Country Canada Holdings, Inc		227
	159,247		Sonic Automotive, Inc (Class A)		2,943
	460,904	*	Sports Direct International plc		2,500
	40,311	*,e	Sportsman’s Warehouse Holdings, Inc		508
	2,700,000	e	Springland International Holdings Ltd		536
	1,045,800	*	SSI Group, Inc		81
	75,490	e	Stage Stores, Inc		608
	960,703		Staples, Inc		10,597
	81,900	e	Start Today Co Ltd		3,300
	106,609		Stein Mart, Inc		781
	27,406	*,e	Stockmann Oyj Abp (B Share)		211
	116,708	e	Super Cheap Auto Group Ltd		765
	291,192	*	Super Group Ltd		861
	35,487		SuperGroup plc		723
	40,000	e	Syuppin Co Ltd		462
	147,669	e	Tailored Brands, Inc		2,643
	148,819		Takashimaya Co Ltd		1,244
	64,940		Takkt AG.		1,247
	1,605,358		Target Corp		132,089
	23,400	e	Telepark Corp		271
	7,745,865		Test-Rite International Co		4,767
	259,845		Tiffany & Co		19,067
	65,265	*,e	Tile Shop Holdings, Inc		973
	129,441	*	Tilly’s, Inc		866
	1,550,194		TJX Companies, Inc		121,458
	14,300	e	Tokyo Derica Co Ltd		198
	274,617		Topps Tiles plc		580

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	243,127		Tractor Supply Co	$	21,993
	626,193		Trade Me Ltd		1,907
	8,615		Trent Ltd		207
	223,407	*	TripAdvisor, Inc		14,857
	476,883		Truworths International Ltd		3,168
	106,352	*	Tuesday Morning Corp		870
	231,638		Ulta Salon Cosmetics & Fragrance, Inc		44,878
	19,399		United Arrows Ltd		802
	351,482	*	Urban Outfitters, Inc		11,631
	82,803		USS Co Ltd		1,321
	9,132		Valora Holding AG.		2,280
	470,800		Via Varejo S.A.		729
	311,700	*	Vipshop Holdings Ltd (ADR)		4,015
	65,619	*,e	Vitamin Shoppe, Inc		2,032
	55,781	*	VOXX International Corp (Class A)		249
	62,200	e	VT Holdings Co Ltd		373
	123,385		Warehouse Group Ltd		247
	129,335	*,e	Wayfair, Inc		5,590
	81,228	*	West Marine, Inc		738
	317,537		WH Smith plc		8,272
	124,148		Williams-Sonoma, Inc		6,796
	7,550	e	Winmark Corp		740
	1,128,266		Woolworths Holdings Ltd		6,844
	20,800		Xebio Co Ltd		332
	445,141	g	XXL ASA		5,429
	2,036,485	e	Yamada Denki Co Ltd		9,626
	45,200		Yellow Hat Ltd		908
	80,310	*,e	Yoox S.p.A		2,461
	72,494	*,e,g	Zalando SE		2,377
	617,523		Zhongsheng Group Holdings Ltd		299
	4,296	*	zooplus AG.		588
	48,081	*,e	Zumiez, Inc		958
			TOTAL RETAILING		4,733,714
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.6%
	193,615		A-DATA Technology Co Ltd		193
	186,225	*	Advanced Energy Industries, Inc		6,479
	1,532,714	*,e	Advanced Micro Devices, Inc		4,368
	44,010,968		Advanced Semiconductor Engineering, Inc		50,979
	1,104,364	e	Advanced Semiconductor Engineering, Inc (ADR)		6,461
	131,000		Advanced Wireless Semiconductor Co		282
	165,500	e	Advantest Corp		1,529
	97,233	*,e	Aixtron AG.		469
	92,396	*	Alpha & Omega Semiconductor Ltd		1,095
	74,562	*,e	Ambarella, Inc		3,333
	274,932	*	Amkor Technology, Inc		1,619
	59,876		ams AG.		2,052
	1,538,916		Analog Devices, Inc		91,088
	4,000		AOI Electronics Co Ltd		89
	6,492,275		Applied Materials, Inc		137,506
	199,420	*,e	Applied Micro Circuits Corp		1,288
	356,176		Ardentec Corp		243

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,171,183		ARM Holdings plc	$	46,176
	225,194	e	ARM Holdings plc (ADR)		9,839
	43,336		ASM International NV		1,938
	475,623	e	ASM Pacific Technology		3,744
	21,000		ASMedia Technology, Inc		109
	614,352		ASML Holding NV		61,825
	19,000		ASPEED Technology, Inc		202
	691,710		Atmel Corp		5,617
	52,459	*,m	Atto Co Ltd		512
	259,880	*	Axcelis Technologies, Inc		728
	173,611		BE Semiconductor Industries NV		4,744
	1,783,901		Broadcom Ltd		275,613
	222,830		Brooks Automation, Inc		2,317
	73,687		Cabot Microelectronics Corp		3,015
	45,791	*	Cascade Microtech, Inc		944
	140,030	*	Cavium, Inc		8,564
	49,540	*	Ceva, Inc		1,115
	870,000	e	China Electronics Corp Holdings Co Ltd		273
	11,538	*,e,m	China Energy Savings Technology, Inc		0
	2,926,000	*	China Soft Power Technology Holdings Ltd		106
	540,000		Chipbond Technology Corp		872
	116,651		ChipMOS TECHNOLOGIES Bermuda Ltd		2,027
	921,000		ChipMOS Technologies, Inc		963
	275,051	*	Cirrus Logic, Inc		10,015
	67,900		Cohu, Inc		807
	376,516	*,e	Cree, Inc		10,957
	2,025,062	e	Cypress Semiconductor Corp		17,537
	20,711		D.I Corp		87
	387,616		Dainippon Screen Manufacturing Co Ltd		3,061
	63,529	*	Dialog Semiconductor plc		2,507
	91,155	*	Diodes, Inc		1,832
	29,972		Disco Corp		2,536
	22,976	*	Dongbu HiTek Co Ltd		363
	73,837	*	DSP Group, Inc		673
	370,000		Elan Microelectronics Corp		442
	74,400		Elite Advanced Laser Corp		416
	235,000		Elite Semiconductor Memory Technology, Inc		206
	63,571		eMemory Technology, Inc		735
	340,894	*	Entegris, Inc		4,643
	7,921		Eo Technics Co Ltd		828
	918,000		Epistar Corp		663
	280,167	*	E-Ton Solar Tech Co Ltd		98
	14,967		Eugene Technology Co Ltd		184
	366,000		Everlight Electronics Co Ltd		609
	97,386	*	Exar Corp		560
	370,252	*	Fairchild Semiconductor International, Inc		7,405
	200,060		Faraday Technology Corp		260
	293,215	*	First Solar, Inc		20,076
	1,950,000		Forhouse Corp		712
	249,721	*	Formfactor, Inc		1,815
	153,000		Formosa Advanced Technologies Co Ltd		110
	14,220,415	e	GCL Poly Energy Holdings Ltd		2,350

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,605	*	GemVax & Kael Co Ltd	$	347
	24,686		Giga Solar Materials Corp		427
	287,986	*	Gigastorage Corp		245
	406,273	*	Gintech Energy Corp		323
	81,000		Global Unichip Corp		212
	179,300		Globetronics Technology BHD		249
	945,000		Greatek Electronics, Inc		1,080
	241,561	*	Green Energy Technology, Inc		141
	12,960	*	G-SMATT GLOBAL Co Ltd		323
	1,309,600		Hana Microelectronics PCL (Foreign)		1,330
	55,793		Hanmi Semiconductor Co Ltd		717
	15,329	*	Hansol LCD, Inc		270
	46,036		Hermes Microvision, Inc		1,314
	157,000		Holtek Semiconductor, Inc		256
	182,000	*,g	Hua Hong Semiconductor Ltd		182
	694,668		Hynix Semiconductor, Inc		17,101
	225,827	*,e	Imagination Technologies Group plc		614
	1,637,485		Infineon Technologies AG.		23,217
	2,210,644	*	Inotera Memories, Inc		2,001
	166,547	*	Inphi Corp		5,553
	488,341	*	Integrated Device Technology, Inc		9,982
	13,154,927		Intel Corp		425,562
	362,521		Intersil Corp (Class A)		4,847
	7,581		ISC Co Ltd		170
	100,041		IXYS Corp		1,122
	22,400	*,e	JA Solar Holdings Co Ltd (ADR)		193
	10,600	*,e	JinkoSolar Holding Co Ltd (ADR)		222
	88,428		KC Tech Co Ltd		1,160
	1,019,000		King Yuan Electronics Co Ltd		905
	1,247,000		Kinsus Interconnect Technology Corp		2,769
	371,156	e	Kla-Tencor Corp		27,024
	10,500		Koh Young Technology, Inc		375
	214,565	*,e	Kopin Corp		356
	2,445	*	Kulicke & Soffa Industries, Inc		28
	992,827		Lam Research Corp		82,007
	35,000		Land Mark Optoelectronics Corp		568
	13,995,000	*	Landing International Development		262
	284,092	*,e	Lattice Semiconductor Corp		1,614
	8,256		LEENO Industrial Inc		280
	344,726		Lextar Electronics Corp		176
	607,496		Linear Technology Corp		27,070
	150,048		Lite-On Semiconductor Corp		101
	36,997		Lumens Co Ltd		131
	55,542	*,e	MA-COM Technology Solutions		2,432
	3,343,000	*	Macronix International		436
	222,200		Malaysian Pacific Industries BHD		424
	2,881	*,e	Manz Automation AG.		110
	2,110,226		Marvell Technology Group Ltd		21,756
	173,841	*	Mattson Technology, Inc		634
	1,355,245		Maxim Integrated Products, Inc		49,846
	176,428	*	MaxLinear, Inc		3,264
	1,540,135		MediaTek, Inc		11,814

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,900	e	Megachips Corp	$	156
	48,407		Melexis NV		2,628
	440,759	*,e	Mellanox Technologies Ltd		23,946
	74,452	*,e	Meyer Burger Technology AG.		267
	486,904	e	Microchip Technology, Inc		23,469
	3,225,081	*	Micron Technology, Inc		33,767
	88,800	e	Micronics Japan Co Ltd		886
	678,094		Microsemi Corp		25,978
	46,800		Mimasu Semiconductor Industry Co Ltd		429
	20,100		Mitsui High-Tec, Inc		124
	230,880		MKS Instruments, Inc		8,693
	95,722		Monolithic Power Systems, Inc		6,092
	319,000	*	Motech Industries, Inc		362
	185,470	*,e	NANOCO Group plc		112
	59,403	*	Nanometrics, Inc		941
	727,324		Neo Solar Power Corp		472
	146,912	*	NeoPhotonics Corp Ltd		2,063
	116,011	*,e	Nordic Semiconductor ASA		645
	2,195,426		Novatek Microelectronics Corp Ltd		8,838
	15,700	e	Nuflare Technology, Inc		696
	11,829	e	NVE Corp		669
	2,178,104		Nvidia Corp		77,606
	607,884	*	NXP Semiconductors NV		49,281
	2,728,985	*	ON Semiconductor Corp		26,171
	25,000		On-Bright Electronics, Inc		141
	555,000	*	Orient Semiconductor Electronics Ltd		225
	214,127		Orise Technology Co Ltd		186
	56,401		Parade Technologies Ltd		559
	109,463	*	PDF Solutions, Inc		1,465
	139,860		Phison Electronics Corp		1,139
	202,422	*	Photronics, Inc		2,107
	126,613		Pixart Imaging, Inc		308
	94,782		Power Integrations, Inc		4,707
	3,225,857		Powertech Technology, Inc		7,311
	242,192	*	Qorvo, Inc		12,209
	497,511		Radiant Opto-Electronics Corp		964
	280,950	*,e	Rambus, Inc		3,863
	477,209		Realtek Semiconductor Corp		1,312
	1,770,274	*,e	REC Silicon ASA		298
	56,486		Richtek Technology Corp		340
	134,191		Rohm Co Ltd		5,644
	77,943	*	Rudolph Technologies, Inc		1,065
	201,588		Samsung Electronics Co Ltd		231,344
	30,027		Samsung Electronics Co Ltd (Preference)		29,071
	104,000	e	Sanken Electric Co Ltd		312
	28,305,000	*	Semiconductor Manufacturing International		2,514
	221,504	*	Semtech Corp		4,871
	35,116		Seoul Semiconductor Co Ltd		459
	246,000	*,e	Shanghai Fudan Microelectronics Group Co Ltd		187
	59,000		Shindengen Electric Manufacturing Co Ltd		200
	339,600		Shinko Electric Industries		1,909
	248,000		ShunSin Technology Holding Ltd		800

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	86,225	*	Sigma Designs, Inc	$	586
	350,000		Sigurd Microelectronics Corp		258
	42,934		Silergy Corp		586
	103,838	*	Silicon Laboratories, Inc		4,669
	49,831		Silicon Works Co Ltd		1,452
	9,244,475		Siliconware Precision Industries Co		14,931
	9,498	*	Siltronic AG.		172
	10,903		SIMMTECH Co Ltd		74
	486,000		Sino-American Silicon Products, Inc		542
	578,000		Sitronix Technology Corp		1,673
	537,315	n	Skyworks Solutions, Inc		41,857
	11,059	*,e	SMA Solar Technology AG.		575
	1,790,029		STMicroelectronics NV		9,964
	163,600		Sumco Corp		1,027
	460,000		Sunplus Technology Co Ltd		187
	369,813	*,e	SunPower Corp		8,262
	1,213,600		SVI PCL		183
	51,267,367		Taiwan Semiconductor Manufacturing Co Ltd		255,713
	954,288		Taiwan Surface Mounting Technology Co Ltd		848
	868,571		Teradyne, Inc		18,752
	250,489		Tessera Technologies, Inc		7,765
	2,336,776		Texas Instruments, Inc		134,178
	430,081		Tokyo Electron Ltd		28,011
	147,200		Tokyo Seimitsu Co Ltd		2,888
	532,854		Topco Scientific Co Ltd		992
	8,835		Toptec Co Ltd		215
	81,496	*	Tower Semiconductor Ltd		1,000
	134,608		Transcend Information, Inc		416
	1,746,000	*,m	Trony Solar Holdings Co Ltd.		2
	87,000		TrueLight Corp		262
	19,203		U-Blox AG.		3,688
	35,400	e	UKC Holdings Corp		702
	75,199	*	Ultra Clean Holdings		403
	83,374	*	Ultratech, Inc		1,821
	102,200		Ulvac, Inc		3,340
	2,140,600		Unisem M BHD		1,219
	29,079,772		United Microelectronics Corp		11,948
	2,516,756		Vanguard International Semiconductor Corp		3,932
	108,220	*,e	Veeco Instruments, Inc		2,108
	212,425		Visual Photonics Epitaxy Co Ltd		366
	442,501		Win Semiconductors Corp		876
	2,486,000	*	Winbond Electronics Corp		729
	131,032	*	Xcerra Corp		854
	1,899,849		Xilinx, Inc		90,110
	140,000		XinTec, Inc		125
	4,600,000	e	Xinyi Solar Holdings Ltd		1,641
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		2,838,048
SOFTWARE & SERVICES - 9.8%
	68,599	*,e	1-Page Ltd		64
	54,900	*	21Vianet Group, Inc (ADR)		1,096
	71,000	*,e	58.COM, Inc (ADR)		3,951

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	138,303	*	A10 Networks, Inc	$	819
	2,101,884		Accenture plc		242,557
	281,318	*	ACI Worldwide, Inc		5,849
	1,230,779		Activision Blizzard, Inc		41,650
	5,391	*	Actoz Soft Co Ltd		120
	171,733	*	Actua Corp		1,554
	187,706	*	Acxiom Corp		4,024
	15,000		Addcn Technology Co Ltd		121
	2,876,513	*	Adobe Systems, Inc		269,817
	1,904,000	*,e	AGTech Holdings Ltd		469
	6,317		Ahnlab, Inc		321
	444,861	*	Akamai Technologies, Inc		24,721
	18,623	*,e	Alarm.com Holdings, Inc		441
	1,142,527	*	Alibaba Group Holding Ltd (ADR)		90,294
	263,383	*	Alliance Data Systems Corp		57,944
	249,787		Alpha Systems, Inc		3,835
	930,329	*	Alphabet, Inc (Class A)		709,748
	1,146,306	*	Alphabet, Inc (Class C)		853,941
	50,922		Alten		3,121
	522,968		Altium Ltd		2,363
	112,643		Altran Technologies S.A.		1,559
	406,891		Amadeus IT Holding S.A.		17,400
	49,426	*,e	Amber Road, Inc		267
	1,046,562		Amdocs Ltd		63,233
	65,707	*	American Software, Inc (Class A)		591
	104,685	*,e	Angie’s List, Inc		845
	110,663	*,e	Ansys, Inc		9,900
	14,176	*,e	Apigee Corp		118
	11,812	*,e	Appfolio, Inc		145
	436,985	*	Aspen Technology, Inc		15,788
	172,986		Asseco Poland S.A.		2,805
	9,400	e	Ateam, Inc		155
	11,150	*	Atlassian Corp plc		280
	287,279		Atos Origin S.A.		23,332
	1,995,002	g	Auto Trader Group plc		11,162
	372,383	*	Autodesk, Inc		21,714
	1,120,336		Automatic Data Processing, Inc		100,505
	54,761		Aveva Group plc		1,238
	134,029	*	AVG Technologies NV		2,781
	13,596		Axway Software S.A.		306
	259,918	*	Baidu, Inc (ADR)		49,613
	153,480	*,e	Bankrate, Inc		1,407
	85,686	*,e	Barracuda Networks, Inc		1,320
	330,271	*,e	Bazaarvoice, Inc		1,040
	38,246		Bechtle AG.		3,942
	19,601	*,e	Benefitfocus, Inc		654
	14,800	*	Bitauto Holdings Ltd (ADR)		367
	37,210	*,e	Black Knight Financial Services, Inc		1,155
	113,815		Blackbaud, Inc		7,158
	130,178	*	Blackhawk Network Holdings, Inc		4,465
	101,438	*	Blucora, Inc		523
	475,081		Booz Allen Hamilton Holding Co		14,385

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,551	*	Bottomline Technologies, Inc	$	3,096
	34,929	*,e	Box, Inc		428
	963,000	e	Boyaa Interactive International Ltd		389
	159,300	*	Brightcove, Inc		994
	18,600		Broadleaf Co Ltd		224
	317,679		Broadridge Financial Solutions, Inc		18,842
	71,462	*	BroadSoft, Inc		2,883
	23,900		Brogent Technologies, Inc		207
	1,593,762	e	CA, Inc		49,072
	75,421	*	CACI International, Inc (Class A)		8,047
	446,595	*	Cadence Design Systems, Inc		10,531
	222,556	*	Callidus Software, Inc		3,712
	25,198		Cancom SE		1,255
	500,901		Cap Gemini S.A.		46,987
	43,586		Capcom Co Ltd		1,062
	58,903	*,e	Carbonite, Inc		469
	109,955	*	Cardtronics, Inc		3,957
	55,196	*,e	Care.com, Inc		339
	271,788	e	carsales.com Ltd		2,447
	26,943	e	Cass Information Systems, Inc		1,410
	196,539	*	CD Projekt Red S.A.		1,353
	270,225		CDK Global, Inc		12,579
	12,821	e	Cegid Group		723
	356,437	*	CGI Group, Inc		17,035
	5,900	*	Changyou.com Ltd (ADR)		111
	60,800		Chanjet Information Technology Co Ltd		92
	52,723	*	ChannelAdvisor Corp		593
	182,405	*,e	Check Point Software Technologies		15,955
	12,200	*,e	Cheetah Mobile, Inc (ADR)		199
	620,000	*,e	China City Railway Transportation Technology Holdings Co Ltd		108
	1,360,000	*,e	Chinasoft International Ltd		500
	272,224	*	Ciber, Inc		574
	1,553,214		Cielo S.A.		15,106
	232,649	*,e	Cimpress NV		21,099
	1,123,905	*	Citrix Systems, Inc		88,316
	2,630	*,e	Code Rebel Corp		12
	1,568,937	*	Cognizant Technology Solutions Corp (Class A)		98,372
	97,600		COLOPL, Inc		2,088
	8,334	*	Com2uSCorp		904
	149,142	*	Commvault Systems, Inc		6,438
	139,129	e	Computer Modelling Group Ltd		1,086
	842,607		Computer Sciences Corp		28,977
	11,200	e	Computer Task Group, Inc		57
	473,094		Computershare Ltd		3,541
	142,190	*,e	comScore, Inc		4,271
	48,630		Constellation Software, Inc		19,912
	235,669		Convergys Corp		6,545
	105,700	e	COOKPAD, Inc		1,687
	179,420	*,e	Cornerstone OnDemand, Inc		5,880
	63,252	*	CoStar Group, Inc		11,902
	15,900	e	CROOZ, Inc		364

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	105,784		CSG Systems International, Inc	$	4,777
	728,520		CSRA, Inc		19,597
	74,633	*	Cvent, Inc		1,597
	156,552	*,e	CyberArk Software Ltd		6,674
	82,567		Cyberlink Corp		188
	106,679		Cyient Ltd		687
	24,938		Daou Technology, Inc		472
	461,024		Dassault Systemes S.A.		36,528
	54,305	*,e	Datalink Corp		496
	439,300		Datasonic Group BHD		146
	30,323		Daum Communications		2,630
	81,475	*,e	Demandware, Inc		3,186
	228,100	e	Dena Co Ltd		3,926
	64,694	*	Descartes Systems Group, Inc		1,259
	4,179	*	Devsisters Co Ltd		90
	95,906		DH Corp		2,853
	292,781	*	DHI Group, Inc		2,363
	17,377	e	Digimarc Corp		527
	30,800	e	Digital Garage, Inc		561
	128,189	*,e	Digital Turbine, Inc		153
	60,536	*	Diligent Board Member Services		294
	51,700	e	Dip Corp		1,218
	142,627		DST Systems, Inc		16,084
	82,400		DTS Corp		1,575
	17,143		DuzonBIzon Co Ltd		365
	738,776		EarthLink Holdings Corp		4,189
	2,596,705	*	eBay, Inc		61,957
	65,308	e	Ebix, Inc		2,664
	30,270		eClerx Services Ltd		594
	134,825	e	Econocom Group		1,395
	1,275,528	*	Electronic Arts, Inc		84,325
	110,115	*,e	Ellie Mae, Inc		9,981
	157,349		Ementor ASA		1,501
	143,752	*,e	Endurance International Group Holdings, Inc		1,514
	86,444	*,e	EnerNOC, Inc		647
	55,019		Enghouse Systems Ltd		2,228
	11,230		Engineering Ingegneria Informatica S.p.A.		837
	95,267	*,e	Envestnet, Inc		2,591
	96,812		EOH Holdings Ltd		966
	244,313	*	EPAM Systems, Inc		18,243
	81,412		EPIQ Systems, Inc		1,223
	184,639	*	Euronet Worldwide, Inc		13,684
	159,369	*,e	Everi Holdings, Inc		365
	469,646		EVERTEC, Inc		6,566
	82,312	*,e	Everyday Health, Inc		461
	146,908	*	ExlService Holdings, Inc		7,610
	33,700	e	F@N Communications, Inc		253
	7,846,444	*	Facebook, Inc		895,279
	87,325		Fair Isaac Corp		9,264
	421,500	g	Feiyu Technology International Co Ltd		119
	2,900	*,e	FFRI, Inc		129
	568,474		Fidelity National Information Services, Inc		35,990

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	391,258	*,e	FireEye, Inc	$	7,039
	450,430	*	First American Corp		15,630
	305,618	*	First Data Corp		3,955
	717,861	*	Fiserv, Inc		73,638
	50,341	*,e	Five9, Inc		448
	301,313	*	FleetCor Technologies, Inc		44,820
	95,841	*	FleetMatics Group plc		3,902
	24,090		Forrester Research, Inc		810
	1,234,479	*	Fortinet, Inc		37,812
	212,549	e	F-Secure Oyj		636
	60,100		FUJI SOFT, Inc		1,311
	6,121,592		Fujitsu Ltd		22,636
	68,000		Future Architect, Inc		529
	13,489	*	GameHi Co Ltd		152
	66,531	*,e	GameLoft		565
	4,770	*	Gamevil, Inc		381
	180,394		Gartner, Inc		16,118
	463,347	*,e	Genpact Ltd		12,598
	13,718		GFT Technologies AG.		347
	184,016	*,e	Gigamon, Inc		5,708
	496,580		Global Payments, Inc		32,427
	46,226	*,e	Globant S.A.		1,427
	1,778,514	*,b,e,m	Globo plc		361
	283,219	*,e	Glu Mobile, Inc		799
	144,400		GMO internet, Inc		1,928
	46,600	e	GMO Payment Gateway, Inc		3,148
	214,574	*,e	GoDaddy, Inc		6,937
	135,291	*,e	Gogo, Inc		1,490
	2,611		Golfzon co Ltd		165
	61,200		Gourmet Navigator, Inc		1,452
	81,250	*	Gravity Co Ltd (ADR)		255
	94,800	*,e	Gree, Inc		520
	502,610	*,e	GrubHub, Inc		12,631
	58,442	*,e	GTT Communications, Inc		967
	58,058	*,e	Guidance Software, Inc		250
	281,700	*	Guidewire Software, Inc		15,347
	357,114	e	GungHo Online Entertainment Inc		1,005
	15,909		Haansoft, Inc		268
	133,562		Hackett Group, Inc		2,019
	380,000	*,e	HC International, Inc		218
	853,470		HCL Technologies Ltd		10,490
	89,023		Heartland Payment Systems, Inc		8,597
	84,728		Hexaware Technologies Ltd		344
	1,707,000	*,e	Hi Sun Technology China Ltd		286
	3,680,000	*	HNA International Investment Holdings Ltd		178
	60,473	*,e	Hortonworks, Inc		683
	46,048	*,e	HubSpot, Inc		2,009
	151,189		IAC/InterActiveCorp		7,118
	6,600	*,e	iDreamsky Technology Ltd (ADR)		91
	2,466,000	e	IGG, Inc		1,109
	110,528	*,e	Imperva, Inc		5,582
	97,143	e	Indra Sistemas S.A.		1,128

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,122		Industrial & Financial Systems	$	190
	533,800	e	Ines Corp		5,478
	108,235		Info Edge India Ltd		1,253
	245,713	*,e	Infoblox, Inc		4,202
	843,600	e	Infomart Corp		7,575
	44,100		Information Services International-Dentsu Ltd		885
	3,170,151		Infosys Technologies Ltd		58,246
	5,197	e	Init Innovation In Traffic Sys		90
	36,132	*,e	Instructure, Inc		648
	43,044	*,e	Interactive Intelligence, Inc		1,568
	142,365	*	Internap Network Services Corp		389
	2,134,470		International Business Machines Corp		323,265
	25,000	e	Internet Initiative Japan, Inc		513
	39,510	*,e	InterXion Holding NV		1,366
	291,583	*	Intralinks Holdings, Inc		2,298
	1,465,186		Intuit, Inc		152,394
	146,343		iomart Group plc		567
	234,431		Iress Market Technology Ltd		2,081
	157,519		iSentia Group Ltd		419
	41,800	*,e	Istyle, Inc		371
	183,260		IT Holdings Corp		4,335
	47,500	e	Itochu Techno-Science Corp		896
	115,151	e	j2 Global, Inc		7,091
	149,813		Jack Henry & Associates, Inc		12,670
	6,277	*	JCEntertainment Corp		165
	121,093	*,e	Jive Software, Inc		458
	3,773	*	Joymax Co Ltd		27
	207,561	*	Just Dial Ltd		2,401
	1,063,192	*	Just Eat plc		5,756
	27,900		Justsystems Corp		227
	171,075		Kainos Group plc		483
	27,520	e	Kakaku.com, Inc		510
	10,635		KCP Co Ltd		173
	13,674		Kginicis Co Ltd		150
	10,204		KGMobilians Co Ltd		94
	408,233	*	Kinaxis, Inc		13,563
	1,796,000	e	Kingdee International Software Group Co Ltd		580
	976,865	e	Kingsoft Corp Ltd		2,293
	127,900	*,e	KLab, Inc		724
	403,168	e	Konami Corp		11,915
	11,100	*,e	KongZhong Corp (ADR)		80
	11,919	*	Korea Information & Communications Co Ltd		117
	9,452		Korea Information Certificate Authority, Inc		82
	354,452		KPIT Cummins Infosystems Ltd		791
	10,907	*	KT Hitel Co Ltd		83
	195,514	e	Leidos Holdings, Inc		9,838
	350,399	*,e	Limelight Networks, Inc		634
	251,016	*	LinkedIn Corp		28,704
	25,300		Linx S.A.		337
	157,536	*	Lionbridge Technologies		797
	108,996	*,e	Liquidity Services, Inc		565
	165,350	*,e	Liveperson, Inc		967

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	61,027	*	LogMeIn, Inc	$	3,079
	241,108	*,e	Luxoft Holding, Inc		13,268
	455,400	*	Manhattan Associates, Inc		25,899
	78,375		Mantech International Corp (Class A)		2,507
	113,403		Marchex, Inc (Class B)		505
	111,683	*,e	Marin Software, Inc		337
	85,050	*,e	Marketo, Inc		1,664
	25,700	e	Marvelous AQL, Inc		231
	3,844,796		Mastercard, Inc (Class A)		363,333
	69,809	*,e	Match Group, Inc		772
	85,056		Matrix IT Ltd		544
	177,248		MAXIMUS, Inc		9,330
	616,743		Mentor Graphics Corp		12,538
	208,874		Micro Focus International plc		4,703
	26,437,808		Microsoft Corp		1,460,160
	232,939	*	MicroStrategy, Inc (Class A)		41,864
	15,675	*,e	MINDBODY, Inc		209
	177,484		MindTree Ltd		1,750
	5,200		Mitsubishi Research Institute, Inc		165
	155,230		Mixi Inc		5,757
	100,121	*,e	MobileIron, Inc		453
	1,604,165	*,e	Mobileye NV		59,819
	51,689	*	Model N, Inc		557
	134,845	*,e	ModusLink Global Solutions, Inc		198
	16,300	*,e	Momo, Inc (ADR)		183
	78,538	*	MoneyGram International, Inc		481
	1,856,243		Moneysupermarket.com Group plc		8,460
	133,623		Monotype Imaging Holdings, Inc		3,196
	224,831	*,e	Monster Worldwide, Inc		733
	127,777		Mphasis Ltd		949
	3,435,400		My EG Services BHD		1,885
	217,792		MYOB Ltd		546
	69,570	*,e	Myriad Group AG.		224
	852,000	*	National Agricultural Holdings Ltd		267
	47,227		Naver Corp		26,318
	25,351		NCsoft		5,624
	19,400		NEC Networks & System Integration Corp		301
	21,103		Nemetschek AG.		1,017
	11,733	*	Neowiz Games Corp		162
	250,900		NET One Systems Co Ltd		1,355
	162,000	e	NetDragon Websoft, Inc		468
	113,900		Netease.com (ADR)		16,354
	27,885		NetEnt AB		1,573
	48,936	*,e	NetSuite, Inc		3,352
	220,116	*,e	NeuStar, Inc (Class A)		5,415
	13,682	*,e	New Relic, Inc		357
	522,464		Nexon Co Ltd		8,910
	210,729	*	NEXTDC Ltd		444
	14,469	*	NHN Entertainment Corp		695
	289,192		NIC, Inc		5,214
	5,361		Nice Information & Telecommunication, Inc		153
	77,653		Nice Systems Ltd		5,047

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	92,100	e	Nihon Unisys Ltd	$	1,219
	56,041		NIIT Technologies Ltd		420
	146,619		Nintendo Co Ltd		20,842
	29,300		Nippon System Development Co Ltd		433
	92,940		Nomura Research Institute Ltd		3,130
	37,700	*,e	NQ Mobile, Inc (ADR)		173
	109,800		NS Solutions Corp		2,154
	110,051		NTT Data Corp		5,519
	1,314,728	*	Nuance Communications, Inc		24,572
	9,100		OBIC Business Consultants Ltd		386
	50,500		Obic Co Ltd		2,670
	121,023		Open Text Corp		6,269
	102,203	e	Opera Software ASA		812
	65,657	*,e	OPOWER, Inc		447
	485,476	*	Optimal Payments plc		2,947
	13,787,116		Oracle Corp		564,031
	24,049		Oracle Corp Japan		1,349
	45,995		Otsuka Corp		2,426
	291,000	e	Ourgame International Holdings Ltd		164
	505,700		Pacific Online		144
	411,918	*,e	Pandora Media, Inc		3,687
	28,661	*,e	Park City Group, Inc		259
	780,546		Paychex, Inc		42,157
	75,959	*,e	Paycom Software, Inc		2,704
	36,625	*,e	Paylocity Holding Corp		1,199
	4,649,405	*	PayPal Holdings, Inc		179,467
	73,789		PC Home Online		812
	263,000	e	PCA Corp		3,302
	4,540,000	*,e	Peace Map Holding Ltd		131
	220,600		Pegasystems, Inc		5,599
	97,306	*	Perficient, Inc		2,113
	64,590		Persistent Systems Ltd		743
	41,599	*	PFSweb, Inc		546
	20,100	*,e	Phoenix New Media Ltd (ADR)		89
	444,810		Playtech Ltd		5,537
	178,592		Polaris Software Lab Ltd		510
	45,699		POSDATA Co Ltd		197
	17,250	*	PRGX Global, Inc		81
	249,714	*	Progress Software Corp		6,023
	481,366	*,e	Proofpoint, Inc		25,888
	58,921	*	PROS Holdings, Inc		695
	320,371	*	PTC, Inc		10,623
	48,319	*	Q2 Holdings, Inc		1,162
	25,018		QAD, Inc (Class A)		532
	75,600	*,e	Qihoo 360 Technology Co Ltd (ADR)		5,712
	589,404	*	QLIK Technologies, Inc		17,046
	142,266	*	Qualys, Inc		3,601
	105,831	*	QuinStreet, Inc		362
	146,075	*,e	Quotient Technology, Inc		1,548
	600,173	*	Rackspace Hosting, Inc		12,958
	19,487	*,e	Rapid7, Inc		255
	71,992	*,e	RealNetworks, Inc		292

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	201,615	*,e	RealPage, Inc	$	4,202
	419,278	*	Red Hat, Inc		31,240
	120,516		Redcentric plc		332
	91,531	*,e	Redknee Solutions, Inc		183
	31,546		Reis, Inc		743
	30,900	*	RENREN,Inc (ADR)		101
	12,408		Reply S.p.A.		1,838
	298,546	*	RetailMeNot, Inc		2,391
	31,006	e	RIB Software AG.		321
	268,017		Rightmove plc		16,185
	131,660	*	RingCentral, Inc		2,074
	68,247	*,e	Rocket Fuel, Inc		215
	233,299		Rolta India Ltd		267
	202,747	*	Rovi Corp		4,158
	158,217	*,e	Rubicon Project, Inc		2,892
	644,174		Sabre Corp		18,630
	47,466		SafeCharge International Group Ltd		176
	2,066,795		Sage Group plc		18,635
	37,413		Saipens International Corp NV		444
	4,065,978	*	Salesforce.com, Inc		300,191
	200,000		Samart Corp PCL		95
	31,764		Samsung SDS Co Ltd		4,863
	1,012,387		SAP AG.		81,465
	59,849	e	Sapiens International Corp NV		717
	6,819		SBSi Co Ltd		73
	139,461		Science Applications International Corp		7,439
	72,939	*	Sciquest, Inc		1,012
	395,872	*,g	Scout24 AG.		13,700
	87,006	*	Seachange International, Inc		480
	1,425,346	*	ServiceNow, Inc		87,203
	153,347	*,e	ServiceSource International LLC		653
	108,130		Shanghai Baosight Software Co Ltd		420
	20,114	*	Shopify, Inc		569
	47,768	*,e	Shutterstock, Inc		1,755
	86,624	*,e	Silver Spring Networks, Inc		1,278
	2,550,200		Silverlake Axis Ltd		1,173
	49,410	e	SimCorp AS		2,278
	49,240	*,e	Sina Corp		2,332
	4,690,000	*	Sino-I Technology Ltd		65
	438,000	e	Sinosoft Technology Group Ltd		223
	14,954	*	SK Communications Co Ltd		50
	116,600	e	SMS Co Ltd		2,222
	72,810		Software AG.		2,844
	901,540		Soft-World International Corp		1,922
	34,364	*,e	Sohu.com, Inc		1,702
	384,604		Sonda S.A.		741
	176,932	g	Sophos Group plc		553
	40,034		Sopra Group S.A.		4,729
	135,300	e	SouFun Holdings Ltd (ADR)		810
	230,927	*	Splunk, Inc		11,299
	40,449	*	SPS Commerce, Inc		1,737
	81,927		Square Enix Co Ltd		2,213

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	145,431	*,e	Square, Inc	$	2,222
	150,798	e	SS&C Technologies Holdings, Inc		9,564
	77,313	*	Stamps.com, Inc		8,217
	76,042		Sumisho Computer Systems Corp		2,972
	11,158	*	SundayToz Corp		109
	1,455,000		SUNeVision Holdings Ltd		458
	165,530	*	Sykes Enterprises, Inc		4,996
	4,166,784		Symantec Corp		76,585
	95,911	*	Synchronoss Technologies, Inc		3,102
	296,344	*	Synopsys, Inc		14,355
	134,417	*	Syntel, Inc		6,711
	175,000		Systex Corp		325
	191,942	*	Tableau Software, Inc		8,804
	816,713	*	Take-Two Interactive Software, Inc		30,766
	97,303	*,e	Tangoe, Inc		768
	755,648		Tata Consultancy Services Ltd		28,756
	6,231		Tata Elxsi Ltd		177
	272,395		Tech Mahindra Ltd		1,953
	425,519		Technology One Ltd		1,554
	60,068	*	TechTarget, Inc		446
	113,200	e	Tecmo Koei Holdings Co Ltd		1,732
	89,753	*	TeleNav, Inc		530
	76,390		TeleTech Holdings, Inc		2,121
	60,233		Temenos Group AG.		3,291
	10,989,277		Tencent Holdings Ltd		224,669
	1,412,980	*	Teradata Corp		37,077
	48,824	*,e	Textura Corp		910
	363,000	g	Tian GE Interactive Holdings Ltd		233
	124,868	e	Tietoenator Oyj		3,253
	240,598	*	TiVo, Inc		2,288
	38,400	*	TKC		1,040
	438,908		Total System Services, Inc		20,883
	121,619		Totvus S.A.		920
	21,200	e	Trans Cosmos, Inc/Japan		550
	587,712	e	Travelport Worldwide Ltd		8,028
	913,000		Travelsky Technology Ltd		1,497
	20,976	*	Travelzoo, Inc		170
	112,303		Trend Micro, Inc		4,110
	116,410	*,e	TrueCar, Inc		651
	40,380	*,e	TubeMogul, Inc		523
	1,073,942	*,e	Twitter, Inc		17,774
	104,945	*	Tyler Technologies, Inc		13,497
	85,979	*	Ubisoft Entertainment		2,696
	89,634	*	Ultimate Software Group, Inc		17,344
	226,263	*,e	Unisys Corp		1,742
	139,901		United Internet AG.		7,009
	41,846	*	United Online, Inc		483
	12,400	e	UNITED, Inc		182
	3,110,000	e	V1 Group Ltd		175
	86,963		Vakrangee Ltd		260
	605,390	*	Vantiv, Inc		32,618
	21,576	*,e	Varonis Systems, Inc		394

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	71,355	*,e	Vasco Data Security International	$	1,099
	28,700	*,e	V-Cube, Inc		329
	327,999	*	VeriFone Systems, Inc		9,263
	230,378	*	Verint Systems, Inc		7,690
	374,738	e	VeriSign, Inc		33,179
	109,441	*,e	VirnetX Holding Corp		502
	126,530	*	Virtusa Corp		4,740
	8,134,068		Visa, Inc (Class A)		622,093
	348,595	*,e	VMware, Inc (Class A)		18,235
	121,233	*,e	WebMD Health Corp (Class A)		7,593
	153,928	*	Website Pros, Inc		3,051
	12,029	*	Webzen, Inc		245
	7,808	*	WeMade Entertainment Co Ltd		213
	1,575,679		Western Union Co		30,395
	137,804	*	WEX, Inc		11,487
	991,993		Wipro Ltd		8,447
	315,372	e	Wirecard AG.		11,917
	140,114	*,e	Wix.com Ltd		2,840
	381,573	*,e	Workday, Inc		29,320
	33,913	*,e	Workiva, Inc		395
	3,737,929	*,g	Worldpay Group plc		14,727
	15,400	*	Wowo Ltd (ADR)		63
	15,514	*	Xactly Corp		106
	471,893		Xchanging plc		1,295
	58,841	*,e	Xero Ltd		627
	2,556,330		Xerox Corp		28,529
	2,300		XING AG.		421
	84,152	*	XO Group, Inc		1,351
	79,233		XPEC Entertainment, Inc		267
	53,698	*	Xura, Inc		1,056
	5,050,000		Xurpas, Inc		1,960
	1,444,248	e	Yahoo! Japan Corp		6,147
	3,719,534	*	Yahoo!, Inc		136,916
	124,285	*,e	Yelp, Inc		2,471
	58,300	*	Youku Tudou, Inc (ADR)		1,603
	14,700	*,e	YY, Inc (ADR)		905
	130,092	*,e	Zendesk, Inc		2,723
	11,179		Zensar Technologies Ltd		158
	84,566	*,e	Zillow Group, Inc		2,161
	170,981	*,e	Zillow Group, Inc (Class C)		4,057
	195,203	*	Zix Corp		767
	402,253	g	Zoopla Property Group plc		1,444
	1,705,175	*	Zynga, Inc		3,888
			TOTAL SOFTWARE & SERVICES		10,873,352
TECHNOLOGY HARDWARE & EQUIPMENT - 4.7%
	232,033	*,e	3D Systems Corp		3,590
	879,221	e	AAC Technologies Holdings, Inc		6,723
	2,602,292		Accton Technology Corp		2,842
	3,179,478	*	Acer, Inc		1,219
	107,492		Adlink Technology, Inc		244
	124,204		Adtran, Inc		2,511

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	274,214	*	ADVA AG. Optical Networking	$	3,251
	36,000		Advanced Ceramic X Corp		202
	340,059		Advantech Co Ltd		2,499
	63,963	*,e	Aerohive Networks, Inc		319
	43,669	*	Agilysys, Inc		446
	31,600		Ai Holdings Corp		916
	133,046	*,e	Alcatel S.A.		496
	2,257	*,e,m	Alcatel-Lucent (ADR)		7
	34,232	e	Alliance Fiber Optic Products, Inc		506
	284,400		Alpha Networks, Inc		149
	905,800	e	Alps Electric Co Ltd		15,805
	190,000		Amano Corp		2,996
	479,001		Amphenol Corp (Class A)		27,696
	676,346	*	Anixter International, Inc		35,244
	115,600	e	Anritsu Corp		635
	2,796,000	*,e,m	Anxin-China Holdings Ltd		4
	19,288,386	n	Apple, Inc		2,102,241
	41,258	*,e	Applied Optoelectronics, Inc		615
	63,940	*,e	Arista Networks, Inc		4,035
	522,604	*,e	ARRIS International plc		11,978
	197,089		Arrow Electronics, Inc		12,694
	90,370		Ascom Holding AG.		1,695
	203,000	*	Asia Optical Co, Inc		178
	2,440,464		Asia Vital Components Co Ltd		2,127
	731,262		Asustek Computer, Inc		6,562
	188,000		Aten International Co Ltd		437
	31,211,690		AU Optronics Corp		9,349
	251,000		Aurora Corp		441
	75,791		Austria Technologie & Systemtechnik AG.		1,110
	77,132	*,e	Avid Technology, Inc		521
	39,037	*,e	Avigilon Corp		452
	230,066		Avnet, Inc		10,192
	122,513		AVX Corp		1,540
	35,281		Badger Meter, Inc		2,347
	21,635		Barco NV		1,559
	47,672		Bel Fuse, Inc (Class B)		696
	103,088		Belden CDT, Inc		6,328
	264,585	*	Benchmark Electronics, Inc		6,099
	6,012,000		Benq Corp		1,943
	1,056,000		BenQ Materials Corp		646
	79,345		Black Box Corp		1,069
	828,765	*,e	Blackberry Ltd (New)		6,726
	850,000		Boardtek Electronics Corp		1,084
	1,493,724		Brocade Communications Systems, Inc		15,804
	696,977		Brother Industries Ltd		8,005
	3,229,000	*	BYD Electronic International Co Ltd		1,870
	85,945	*	CalAmp Corp		1,541
	7,061,915		CalComp Electronics Thailand PCL		634
	106,636	*,e	Calix, Inc		756
	14,900	*	Canon Electronics, Inc		219
	1,037,982		Canon, Inc		30,956
	274,000		Career Technology Co Ltd		195

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	647,000		Casetek Holdings Ltd	$	3,515
	1,955,853		Catcher Technology Co Ltd		16,030
	288,000		Catic Shenzhen Holdings Ltd		164
	274,578		CDW Corp		11,395
	293,877	*	Celestica, Inc		3,227
	103,268		Checkpoint Systems, Inc		1,045
	1,347,602		Cheng Uei Precision Industry Co Ltd		1,783
	705,463		Chicony Electronics Co Ltd		1,815
	600,663		Chimei Materials Technology Corp		366
	5,834,000	e	China Aerospace International Holdings Ltd		776
	1,706,000		China All Access Holdings Ltd		590
	489,600	*,e	China Fiber Optic Network System Group Ltd		45
	4,104,000	*	China Innovationpay Group Ltd		178
	1,211,000		Chin-Poon Industrial Co		2,185
	291,840		Chroma ATE, Inc		627
	2,926,295	*	Ciena Corp		55,658
	19,921,316		Cisco Systems, Inc		567,160
	375,445		Citizen Watch Co Ltd		2,127
	28,882	*,e	Clearfield, Inc		464
	460,393		Clevo Co		415
	1,937,394	*	CMC Magnetics Corp		209
	223,489		Cognex Corp		8,705
	100,984	*	Coherent, Inc		9,280
	2,785,215	e	Comba Telecom Systems Holdings Ltd		496
	640		Comet Holding AG.		431
	232,925	*	CommScope Holding Co, Inc		6,503
	6,808,021		Compal Electronics, Inc		4,272
	5,773,000		Compeq Manufacturing Co		3,692
	64,954		Comtech Telecommunications Corp		1,518
	46,884	*,e	Control4 Corp		373
	2,803,399	*,e	Coolpad Group Ltd		466
	2,052,500		Coretronic Corp		2,097
	2,459,127		Corning, Inc		51,371
	305,000		Coxon Precise Industrial Co Ltd		466
	39,271	e	CPI Card Group, Inc		324
	310,065	*	Cray, Inc		12,995
	20,124	*	CrucialTec Co Ltd		233
	81,133		CTS Corp		1,277
	171,475		Daeduck Electronics Co		1,244
	67,127		Daeduck GDS Co Ltd		707
	1,115,000		Daiwabo Co Ltd		2,080
	95,461	e	Daktronics, Inc		754
	12,288		Daou Data Corp		146
	26,680		Datalogic S.p.A.		521
	189,755	e	DataTec Ltd		591
	282,100		Delta Electronics Thai PCL		697
	2,074,184		Delta Electronics, Inc		9,144
	151,000		Denki Kogyo Co Ltd		704
	39,300		Dexerials Corp		388
	156,467	e	Diebold, Inc		4,523
	94,527	*	Digi International, Inc		891
	3,066,000	e	Digital China Holdings Ltd		4,091

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	36,808		Digital Multimedia Technologies S.p.A.	$	2,050
	583,421	*	D-Link Corp		187
	209,674		Dolby Laboratories, Inc (Class A)		9,112
	43,085	*	DTS, Inc		938
	435,000		Dynapack International Technology Corp		673
	282,500		Eastern Communications Co Ltd		222
	40,397	*,e	Eastman Kodak Co		438
	106,589	*	EchoStar Corp (Class A)		4,721
	13,771	e	Eizo Nanao Corp		346
	55,400		Elecom Co Ltd		975
	91,604		Electro Rent Corp		848
	25,875		Electro Scientific Industries, Inc		185
	476,942		Electrocomponents plc		1,648
	115,207	*	Electronics for Imaging, Inc		4,884
	6,400		Elematec Corp		116
	361,654		Elite Material Co Ltd		689
	1,332,324		Elitegroup Computer Systems Co Ltd		832
	4,203,489		EMC Corp		112,023
	152,159	*	EMCORE Corp		761
	35,000		Ennoconn Corp		421
	24,600		Enplas Corp		911
	18,067	*	ePlus, Inc		1,455
	5,509,829		Ericsson (LM) (B Shares)		55,168
	25,032		Esprinet S.p.A.		226
	21,005		EVS Broadcast Equipment S.A.		776
	822,553	*	Extreme Networks, Inc		2,558
	394,315	*	F5 Networks, Inc		41,738
	133,562	*	Fabrinet		4,321
	42,746	*	FARO Technologies, Inc		1,377
	100,525		FEI Co		8,948
	7,318,000	e	FIH Mobile Ltd		3,264
	141,015	*,e	Fingerprint Cards AB		8,190
	683,618	*	Finisar Corp		12,469
	174,317		Firich Enterprises Co Ltd		454
	786,622	*,e	Fitbit, Inc		11,917
	247,990		FLEXium Interconnect, Inc		639
	1,515,991	*	Flextronics International Ltd		18,283
	430,665		Flir Systems, Inc		14,190
	92,310		Flytech Technology Co Ltd		317
	984,037		Foxconn Technology Co Ltd		2,207
	1,189,481		Fujifilm Holdings Corp		47,017
	9,384,000	*,e	GCL New Energy Holdings Ltd		509
	68,544		Gemalto NV		5,059
	708,000	*	General Interface Solution Holding Ltd		2,374
	58,909	*	Genius Electronic Optical Co Ltd		101
	1,427,000		Getac Technology Corp		1,002
	1,447,000		Gigabyte Technology Co Ltd		1,596
	422,000	*	Gold Circuit Electronics Ltd		117
	317,000	e	Goldpac Group Ltd		135
	5,710	*	Green Cross Cell Corp		194
	129,608	*	GSI Group, Inc		1,835
	1,102,109		Halma plc		14,406

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	29,300		Hamamatsu Photonics KK	$	807
	2,239,330		HannStar Display Corp		296
	186,541	*,e	Harmonic, Inc		610
	275,241		Harris Corp		21,430
	6,893,735		Hewlett Packard Enterprise Co		122,226
	168,750		Hexagon AB (B Shares)		6,559
	722,725		High Tech Computer Corp		2,067
	9,600		Hirose Electric Co Ltd		1,058
	547,732		Hitachi High-Technologies Corp		15,419
	126,000		Hitachi Kokusai Electric, Inc		1,513
	10,739,098		Hitachi Ltd		50,333
	330,100		Hitachi Maxell Ltd		5,021
	587,100		Holystone Enterprise Co Ltd		629
	27,241,808		Hon Hai Precision Industry Co, Ltd		71,707
	64,495		Horiba Ltd		2,405
	48,600		Hosiden Corp		290
	4,393,136		HP, Inc		54,123
	27,225		Humax Co Ltd		313
	463,900	e	Ibiden Co Ltd		5,672
	290,000		Ichia Technologies, Inc		154
	8,100		Icom, Inc		148
	200,476		ICP Electronics, Inc		232
	266,769	*,e	IDEX ASA		289
	216,380	*	II-VI, Inc		4,698
	13,810	*	Iljin Materials Co Ltd		154
	86,658	*,e	Imation Corp		134
	64,720	*,e	Immersion Corp		535
	2,589,540		Inari Amertron BHD		2,138
	1,442		Inficon Holding AG.		476
	1,887,118	*,e	Infinera Corp		30,307
	44,237		Ingenico		5,071
	1,216,170		Ingram Micro, Inc (Class A)		43,673
	32,162,288		InnoLux Display Corp		11,230
	149,924	*	Insight Enterprises, Inc		4,294
	114,102		InterDigital, Inc		6,350
	8,000	*	Intevac, Inc		36
	190,925	*,e	InvenSense, Inc		1,604
	4,375,349		Inventec Co Ltd		2,771
	65,160	*,e	IPG Photonics Corp		6,261
	7,600	e	Iriso Electronics Co Ltd		376
	57,100	e	ITC Networks Corp		577
	772,357		ITEQ Corp		694
	94,607	*	Itron, Inc		3,947
	13,780		Ituran Location and Control Ltd		271
	349,803	*	Ixia		4,359
	1,327,146	e	Jabil Circuit, Inc		25,574
	102,493		Japan Aviation Electronics Industry Ltd		1,201
	14,400	e	Japan Cash Machine Co Ltd		116
	14,400		Japan Digital Laboratory Co Ltd		206
	318,600	*,e	Japan Display, Inc		622
	121,535	e	Japan Radio Co Ltd		323
	1,433,600		JCY International BHD		268

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	35,481		Jenoptik AG.	$	568
	2,913,125		Ju Teng International Holdings Ltd		1,503
	1,088,893		Juniper Networks, Inc		27,778
	45,500	e	Kaga Electronics Co Ltd		577
	31,000		Kanematsu Electronics Ltd		520
	16,618		Kapsch TrafficCom AG.		562
	266,500		KCE Electronics PCL		598
	20,403		Keyence Corp		11,127
	387,687	*	Keysight Technologies, Inc		10,754
	91,639		KH Vatec Co Ltd		1,311
	70,695	*	Kimball Electronics, Inc		790
	972,500	e	Kingboard Chemical Holdings Ltd		1,677
	863,500		Kingboard Laminates Holdings Ltd		402
	209,453	*,e	Knowles Corp		2,761
	69,900	e	Koa Corp		517
	13,060		KONA I Co Ltd		254
	478,909		Konica Minolta Holdings, Inc		4,062
	143,197		Kudelski S.A.		2,441
	43,520	*	KVH Industries, Inc		416
	338,310		Kyocera Corp		14,896
	513,328		Laird Group plc		2,802
	238,892		Largan Precision Co Ltd		18,516
	7,269,323	e	Lenovo Group Ltd		5,666
	94,675		Lexmark International, Inc (Class A)		3,165
	14,063		LG Innotek Co Ltd		975
	233,564		LG.Philips LCD Co Ltd		5,407
	2,131,361		Lite-On Technology Corp		2,600
	115,677		Littelfuse, Inc		14,241
	516,148		Logitech International S.A.		8,203
	458,000		Lotes Co Ltd		1,521
	1,200,725	*	Lumentum Holdings, Inc		32,384
	50,300		Macnica Fuji Electronics Holdings, Inc		598
	145,000		Marubun Corp		989
	7,600		Maruwa Co Ltd		185
	35,900		Melco Holdings, Inc		732
	150,300	*	Mercury Computer Systems, Inc		3,051
	161,076		Merry Electronics Co Ltd		275
	6,856	e	Mesa Laboratories, Inc		661
	181,965		Methode Electronics, Inc		5,321
	313,396	e	Micronic Laser Systems AB		2,828
	2,722,000		Micro-Star International Co Ltd		4,193
	793,000		MIN AIK Technology Co Ltd		1,328
	2,099,500		Mitac Holdings Corp		1,666
	444,000	e	Mitsumi Electric Co Ltd		2,062
	336,070		Motorola, Inc		25,440
	45,513		MTS Systems Corp		2,769
	68,803	*	Multi-Fineline Electronix, Inc		1,597
	404,536		Murata Manufacturing Co Ltd		48,814
	592,000		Nan Ya Printed Circuit Board Corp		624
	196,000		Nanjing Panda Electronics		139
	239,779		National Instruments Corp		7,220
	628,363	*	NCR Corp		18,807

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,722,382		NEC Corp	$	4,330
	59,658		Neopost S.A.		1,252
	934,186		NetApp, Inc		25,494
	168,171	*	Netgear, Inc		6,789
	224,915	*	Netscout Systems, Inc		5,166
	96,610	*	Newport Corp		2,222
	246,926		Nichicon Corp		1,719
	161,819	*,e	Nimble Storage, Inc		1,269
	13,300	e	Nippon Ceramic Co Ltd		231
	138,000	e	Nippon Chemi-Con Corp		194
	2,221,150		Nippon Electric Glass Co Ltd		11,360
	111,500	e	Nippon Signal Co Ltd		922
	18,500	e	Nohmi Bosai Ltd		280
	2,941,533		Nokia Corp		17,384
	7,630,391		Nokia Oyj (Turquoise)		45,265
	92,107	*,e	Novatel Wireless, Inc		163
	232,688	*,e	Oclaro, Inc		1,257
	1,078,000	e	Oki Electric Industry Co Ltd		1,523
	599,456		Omron Corp		17,829
	987,919	e	Opus Group AB		552
	66,817	*	Orbotech Ltd		1,589
	83,262	*	OSI Systems, Inc		5,453
	64,322		Oxford Instruments plc		618
	245,108	*	Palo Alto Networks, Inc		39,987
	352,224		Pan-International Industrial		144
	93,718		Park Electrochemical Corp		1,500
	15,851	*,e	Parrot S.A.		324
	277,622		Partron Co Ltd		2,949
	2,349,000	e	PAX Global Technology Ltd		2,350
	53,076		PC Connection, Inc		1,370
	6,507,324		Pegatron Technology Corp		15,149
	132,880		Plantronics, Inc		5,208
	115,376	*	Plexus Corp		4,560
	345,348	*	Polycom, Inc		3,851
	39,578		Posiflex Technology, Inc		200
	1,034,184		Premier Farnell plc		1,675
	1,925,000		Primax Electronics Ltd		2,256
	753,000	*	Prime View International Co Ltd		435
	65,133	*,e	Pure Storage, Inc		892
	325,106	*	QLogic Corp		4,369
	3,941,884	n	Qualcomm, Inc		201,588
	2,735,217		Quanta Computer, Inc		4,774
	555,544	*,e	Quantum Corp		339
	31,710	*	Radware Ltd		375
	508,930		Redington India Ltd		881
	102,845		Renishaw plc		2,706
	269,711	e	Ricoh Co Ltd		2,745
	9,879		RICOH INDIA Ltd		63
	23,400		Riso Kagaku Corp		361
	2,461,000	*	Ritek Corp		209
	69,490	*	Rofin-Sinar Technologies, Inc		2,239
	46,102	*	Rogers Corp		2,760

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	8,100		Roland DG Corp	$	158
	187,298	*,e	Ruckus Wireless, Inc		1,837
	93,500	e	Ryosan Co Ltd		2,333
	13,600	e	Ryoyo Electro Corp		161
	9,569		Sam Young Electronics Co Ltd		98
	61,701		Samsung Electro-Mechanics Co Ltd		3,173
	57,188		Samsung SDI Co Ltd		4,951
	322,096		SanDisk Corp		24,505
	722,002		Sandvine Corp		1,545
	411,748	*	Sanmina Corp		9,627
	117,515	*	Scansource, Inc		4,745
	27,708	e	Seagate Technology, Inc		955
	828,600		Seiko Epson Corp		13,326
	120,000		Senao Networks, Inc		780
	992,000		Sercomm Corp		2,523
	8,981		SFA Engineering Corp		477
	118,300	*	Shanghai Potevio Co Ltd		233
	100,876		Shimadzu Corp		1,583
	523,924	*	ShoreTel, Inc		3,898
	28,290	*,e	Sierra Wireless, Inc		411
	81,000	e	Siix Corp		2,479
	86,120	*,e	Silicon Graphics International Corp		613
	293,342		Simplo Technology Co Ltd		1,053
	1,123,661		Sinbon Electronics Co Ltd		2,294
	4,332		Sindoh Co Ltd		191
	48,000		SMK Corp		246
	118,502	*	Sonus Networks, Inc		892
	116,089		Spectris plc		3,064
	1,895		Spigen Korea Co Ltd		87
	721,081		Spirent Communications plc		911
	122,321	*,e	Stratasys Ltd		3,171
	6,690,000	*,e	Suncorp Technologies Ltd		124
	2,303,000	e	Sunny Optical Technology Group Co Ltd		6,480
	91,165	*	Super Micro Computer, Inc		3,107
	280,086	*	SVA Electron Co Ltd		252
	104,401	*	Synaptics, Inc		8,325
	68,876		SYNNEX Corp		6,377
	1,351,402		Synnex Technology International Corp		1,393
	48,109	*	Systemax, Inc		422
	36,900	e	Tabuchi Electric Co Ltd		173
	175,972		Taiflex Scientific Co Ltd		199
	904,577		Taiwan PCB Techvest Co Ltd		967
	197,003	e	Taiyo Yuden Co Ltd		1,921
	1,894,000	e	TCL Communication Technology Holdings Ltd		1,247
	122,390		TDK Corp		6,791
	334,956		TE Connectivity Ltd		20,740
	165,155	*	Tech Data Corp		12,679
	406,000	*	Technovator International Ltd		218
	234,127	*,e	Telit Communications plc		732
	139,495		Test Research, Inc		214
	350,773	*,e	Thin Film Electronics ASA		144
	112,476	*	Tobii AB		767

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	33,000		Toko, Inc	$	107
	136,625		Tong Hsing Electronic Industries Ltd		394
	46,300,000		Tongda Group Holdings Ltd		9,265
	88,100	e	Topcon Corp		1,162
	105,000	e	Toshiba TEC Corp		412
	22,200		Toyo Corp/Chuo-ku		228
	263,000		TPK Holding Co Ltd		571
	1,940,000		Tpv Technology Ltd		255
	604,000		Trigiant Group Ltd		104
	551,724	*	Trimble Navigation Ltd		13,683
	1,239,832		Tripod Technology Corp		2,249
	4,056,000	e	Truly International Holdings		1,175
	22,800		TSC Auto ID Technology Co Ltd		200
	198,455		TT electronics plc		425
	320,064	*	TTM Technologies, Inc		2,128
	674,039		TXC Corp		917
	70,801	e	Ubiquiti Networks, Inc		2,356
	1,218,883		Unimicron Technology Corp		591
	2,191,937		Unitech Printed Circuit Board Corp		803
	274,127	*,e	Universal Display Corp		14,830
	812,795		Venture Corp Ltd		5,039
	104,004	*,e	Viasat, Inc		7,642
	778,903	*	Viavi Solutions, Inc		5,343
	332,862	e	Vishay Intertechnology, Inc		4,064
	63,432	*,e	Vishay Precision Group, Inc		889
	3,431,500		VS Industry Bhd		1,056
	1,944,800		VST Holdings Ltd		449
	139,500	e	Vtech Holdings Ltd		1,656
	118,300	e	Wacom Co Ltd		501
	1,299,000		Wah Lee Industrial Corp		1,803
	1,479,395		Walsin Technology Corp		1,194
	2,886,000	e	Wasion Group Holdings Ltd		1,529
	893,391	e	Western Digital Corp		42,204
	25,527	*	Wincor Nixdorf AG.		1,416
	190,500	*,b,m	Wintek Corp		0	^
	2,549,758		Wistron Corp		1,575
	216,777		Wistron NeWeb Corp		580
	1,346,872		WPG Holdings Co Ltd		1,435
	1,372,570		WT Microelectronics Co Ltd		1,643
	167,766		Xaar plc		1,175
	15,750	*,m	Ya Hsin Industrial Co Ltd		0
	1,142,000		Yageo Corp		1,886
	53,993		Yamatake Corp		1,381
	528,000	e,g	Yangtze Optical Fibre and Cable Joint Stock Ltd		631
	78,538	e	Yaskawa Electric Corp		906
	266,484		Yokogawa Electric Corp		2,752
	114,831	*	Zebra Technologies Corp (Class A)		7,923
	321,507		Zhen Ding Technology Holding Ltd		719
	277,000		Zinwell Corp		538
	922,498	m	ZTE Corp		1,263
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5,175,139

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
TELECOMMUNICATION SERVICES - 3.0%
	16,332		012 Smile.Communications Ltd	$	469
	229,292	*	8x8, Inc		2,307
	1,040,604		Advanced Info Service PCL (Foreign)		5,380
	330,484		AFK Sistema (GDR)		2,135
	4,330,686	*,e	Alibaba Health Information Technology Ltd		2,647
	42,552,389		America Movil S.A. de C.V. (Series L)		33,077
	378,250		APT Satellite Holdings Ltd		300
	2,472,000	*	Asia Pacific Telecom Co Ltd		848
	15,399,771		AT&T, Inc		603,209
	37,015		Atlantic Tele-Network, Inc		2,807
	109,459	*,e	Avanti Communications Group plc		152
	717,600	*	Axtel SAB de C.V.		352
	1,020,370	e	BCE, Inc		46,503
	407,089		Belgacom S.A.		13,892
	11,822,063		Bezeq Israeli Telecommunication Corp Ltd		26,683
	2,002,823		Bharti Airtel Ltd		10,610
	1,158,788		Bharti Infratel Ltd		6,683
	111,105	*	Boingo Wireless, Inc		858
	10,335,284		BT Group plc		65,259
	2,436,949		Cable & Wireless plc		2,688
	54,630	*	Cellcom Israel Ltd		389
	371,105	g	Cellnex Telecom SAU		5,917
	1,932,348		CenturyTel, Inc		61,758
	6,225,774		China Communications Services Corp Ltd		2,843
	10,522,973		China Mobile Hong Kong Ltd		116,542
	16,517,618		China Telecom Corp Ltd		8,745
	7,051,220		China Unicom Ltd		9,287
	391,857		Chorus Ltd		1,086
	6,671,396		Chunghwa Telecom Co Ltd		22,701
	803,273	*	Cincinnati Bell, Inc		3,109
	3,331,000	e	Citic 1616 Holdings Ltd		1,254
	113,613	e	Cogent Communications Group, Inc		4,434
	282,725		Com Hem Holding AB		2,603
	122,787	e	Consolidated Communications Holdings, Inc		3,163
	5,677,576		Deutsche Telekom AG.		101,789
	3,844,069		Digi.Com BHD		4,868
	77,196	e	Drillisch AG.		3,159
	368,069	e	Elisa Oyj (Series A)		14,293
	2,838,638		Emirates Telecommunications Group Co PJSC		14,298
	119,760		Empresa Nacional de Telecomunicaciones S.A.		1,057
	147,084	*,e,g	Euskaltel S.A.		1,606
	50,463	*,e	Fairpoint Communications, Inc		751
	1,664,696		Far EasTone Telecommunications Co Ltd		3,728
	2,501,291		France Telecom S.A.		43,680
	369,008		Freenet AG.		11,021
	2,805,239	e	Frontier Communications Corp		15,681
	105,095	*	General Communication, Inc (Class A)		1,925
	2,253,037	*,e	Globalstar, Inc		3,312
	84,890		Globe Telecom, Inc		4,092
	45,439	*,e	Hawaiian Telcom Holdco, Inc		1,070
	276,652		Hellenic Telecommunications Organization S.A.		2,490

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,546,500		HKBN Ltd	$	1,909
	2,894,127		HKT Trust and HKT Ltd		3,985
	4,464,651	e	Hutchison Telecommunications Hong Kong Holdings Ltd		1,573
	1,585,410		Idea Cellular Ltd		2,638
	132,949		IDT Corp (Class B)		2,073
	26,923		Iliad S.A.		6,917
	153,563	*,e	inContact, Inc		1,365
	206,160	*,g	Infrastrutture Wireless Italiane S.p.A		1,033
	474,264		Inmarsat plc		6,690
	200,165		Inteliquent, Inc		3,213
	202,443	*,e	Iridium Communications, Inc		1,593
	115,000	*,e	Japan Communications, Inc		194
	3,161,600		Jasmine International PCL		312
	1,196,199		Kcom Group plc		1,847
	1,498,100		KDDI Corp		39,970
	30,059		KT Corp		781
	257,812	e,m	Let’s GOWEX S.A.		3
	2,079,016	*	Level 3 Communications, Inc		109,876
	219,872		LG Telecom Ltd		2,125
	56,008	*	Lumos Networks Corp		719
	1,197,283	*	Magyar Telekom		1,979
	23,319	e	Manitoba Telecom Services, Inc		580
	1,943,249		Maxis BHD		3,162
	98,372		MegaFon OAO (GDR)		1,080
	458,466	*	Midas S.A.		99
	81,034		Millicom International Cellular S.A.		4,420
	881,689		Mobile TeleSystems (ADR)		7,133
	328,509		MobileOne Ltd		633
	43,580	*	Mobistar S.A.		974
	1,902,457	e	MTN Group Ltd		17,374
	632,780		Netia S.A.		843
	1,743,060		Nippon Telegraph & Telephone Corp		75,296
	41,734	*,e	NTELOS Holdings Corp		384
	2,818,151		NTT DoCoMo, Inc		64,061
	163,900	*	Oi S.A. (Preference)		52
	133,761		Ooredoo QSC		3,416
	2,848,306	*	Orascom Telecom Holding SAE		982
	2,379,939	*	Orascom Telecom Media And Technology Holding SAE		209
	142,378	*,e	Orbcomm, Inc		1,442
	78,214	*	Partner Communications		368
	8,517,932		PCCW Ltd		5,517
	31,821	*	pdvWireless, Inc		1,093
	211,686		Philippine Long Distance Telephone Co		9,122
	509,139	e	Portugal Telecom SGPS S.A.		77
	2,702,290		PT Excelcomindo Pratama		815
	600,000	*	PT Indosat Tbk		279
	959,500	*	PT Link Net Tbk		297
	120,658,624		PT Telekomunikasi Indonesia Persero Tbk		30,414
	83,086	e	QSC AG.		107
	802,726	*	Reliance Communication Ventures Ltd		606
	960,685		Rogers Communications, Inc (Class B)		38,464
	157,573		Rostelecom (ADR)		1,395

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,409,808		Royal KPN NV	$	10,091
	23,300		Samart Telcoms PCL		9
	248,604	*	SBA Communications Corp (Class A)		24,903
	157,006		Shenandoah Telecom Co		4,200
	16,718,716		Singapore Telecommunications Ltd		47,325
	17,630		SK Telecom Co Ltd		3,195
	1,667,188		SmarTone Telecommunications Holding Ltd		2,779
	1,225,055		Softbank Corp		58,594
	49,665		Spok Holdings, Inc		870
	1,325,053	*,e	Sprint Corp		4,611
	503,424		StarHub Ltd		1,252
	21,637	*,e	Straight Path Communications, Inc		671
	28,908	*,g	Sunrise Communications Group AG.		1,984
	12,330		Swisscom AG.		6,692
	1,720,754		Taiwan Mobile Co Ltd		5,587
	1,404,795	e	TalkTalk Telecom Group plc		4,784
	106,428		Tata Communications Ltd		607
	314,943		TDC AS		1,539
	178,658		Tele2 AB		1,654
	3,302,531		Telecom Corp of New Zealand Ltd		8,325
	5,338,878		Telecom Italia RSP		4,672
	7,078,447	*,e	Telecom Italia S.p.A.		7,629
	1,066,602		Telefonica Brasil S.A.		13,420
	619,994		Telefonica Deutschland Holding AG.		3,352
	140,361		Telefonica O2 Czech Republic AS		1,479
	5,530,093		Telefonica S.A.		61,808
	1,227,186		Telekom Malaysia BHD		2,075
	715,482		Telekomunikacja Polska S.A.		1,291
	1,398,961		Telenor ASA		22,620
	950,621		Telephone & Data Systems, Inc		28,604
	1,398,101	*	Telesites SAB		812
	2,894,405		TeliaSonera AB		14,998
	814,125		Telkom S.A. Ltd		3,170
	8,607,403		Telstra Corp Ltd		35,127
	288,941		TELUS Corp		9,406
	1,218,700		Thaicom PCL		995
	1,991,068		Tim Participacoes S.A.		4,430
	430,920		Time dotCom BHD		804
	2,915,150		TM International BHD		4,400
	3,996,748	*	T-Mobile US, Inc		153,075
	1,679,900		Tower Bersama Infrastructure		737
	1,077,898		TPG Telecom Ltd		9,367
	8,912,153	*	True Corp PCL		1,924
	443,072		Turk Telekomunikasyon AS		1,050
	951,583		Turkcell Iletisim Hizmet AS		3,998
	30,212	*	US Cellular Corp		1,380
	13,747,703		Verizon Communications, Inc		743,476
	131,847	m	Verizon Communications, Inc (New)		7,126
	327,462	e	Vocus Communications Ltd		2,089
	421,044		Vodacom Group Pty Ltd		4,573
	52,141,102		Vodafone Group plc		165,686
	426,986		Vodafone Group plc (ADR)		13,685

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	417,248		Vodafone Qatar	$	1,411
	1,456,479	*	Vonage Holdings Corp		6,656
	278,326	e	Windstream Holdings, Inc		2,138
	260,753	*	Zayo Group Holdings, Inc		6,321
			TOTAL TELECOMMUNICATION SERVICES		3,296,455
TRANSPORTATION - 2.5%
	1,368,235		Abertis Infraestructuras S.A. (Continuous)		22,466
	78,428		Aegean Airlines S.A.		759
	216,918	*,g	Aena S.A.		27,969
	30,592		Aeroports de Paris		3,778
	7,814,699		Air Arabia PJSC		2,618
	61,171	*	Air Canada		422
	2,289,807		Air China Ltd		1,625
	786,491	*	Air France-KLM		7,473
	2,014,073		Air New Zealand Ltd		3,982
	240,356	*	Air Transport Services Group, Inc		3,697
	4,181,780		AirAsia BHD		1,962
	1,841,725	*	AirAsia X BHD		137
	1,290,800		Airports of Thailand PCL (Foreign)		14,736
	11,463	*	AJ Rent A Car Co Ltd		112
	720,805		Alaska Air Group, Inc		59,120
	1,197,567	e	All Nippon Airways Co Ltd		3,373
	47,452		Allcargo Logistics Ltd		110
	32,493		Allegiant Travel Co		5,786
	44,565		Amerco, Inc		15,924
	2,117,613		American Airlines Group, Inc		86,843
	634,771	*,b,m	AMR Corp (Escrow)		6
	1,254,000	e	Anhui Expressway Co		977
	103,081		Ansaldo STS S.p.A.		1,230
	12,260		AP Moller - Maersk AS (Class A)		15,643
	12,590		AP Moller - Maersk AS (Class B)		16,506
	1,898,718		Aramex PJSC		1,752
	193,062		Arkansas Best Corp		4,168
	66,400		Arteris S.A.		178
	489,929	e	Asciano Group		3,367
	12,247,900		Asia Aviation PCL (ADR)		2,016
	98,394	*	Asiana Airlines		413
	111,446	*	Atlas Air Worldwide Holdings, Inc		4,711
	1,269,826		Auckland International Airport Ltd		5,642
	105,820		Autostrada Torino-Milano S.p.A.		1,221
	719,225		Autostrade S.p.A.		19,928
	928,295		Avianca Holdings S.A.		588
	301,145	*	Avis Budget Group, Inc		8,239
	648,200		Bangkok Airways Co Ltd		460
	135,150		Bangkok Aviation Fuel Services PCL		125
	4,880,453	*	Bangkok Expressway & Metro PCL		770
	882,678		BBA Aviation plc		2,537
	1,875,803		Beijing Capital International Airport Co Ltd		2,003
	8,387		Blue Dart Express Ltd		766
	788,322		Bollore		3,056
	272,932		bpost S.A.		7,574

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,206,200		BTS Group Holdings PCL (Foreign)	$	1,578
	1,128,998	e	Canadian National Railway Co		70,552
	351,077		Canadian Pacific Railway Ltd (Toronto)		46,644
	982,000	*,e	CAR, Inc		1,154
	1,255,830	e	Cathay Pacific Airways Ltd		2,175
	204,610		Cebu Air, Inc		398
	184,962	*,e	Celadon Group, Inc		1,938
	155,772		Central Japan Railway Co		27,548
	278,914		CH Robinson Worldwide, Inc		20,704
	2,039,715	*	China Airlines		728
	3,127,336	*,e	China COSCO Holdings Co Ltd		1,214
	3,100,000	*,e	China Eastern Airlines Corp Ltd (H Shares)		1,739
	1,298,260	e	China Merchants Holdings International Co Ltd		3,860
	886,900	e	China Merchants Holdings Pacific Ltd		540
	4,604,187	*,e	China Shipping Container Lines Co Ltd		1,052
	4,833,500		China Southern Airlines Co Ltd		3,043
	996,395		Cia de Concessoes Rodoviarias		3,888
	145,218		Cia de Distribucion Integral Logista Holdings SAU		3,277
	2,528,110		ComfortDelgro Corp Ltd		5,479
	12,591,532	*	Compania SudAmericana de Vapores S.A.		257
	88,443		Container Corp Of India Ltd		1,661
	951,900	*,e	Controladora Vuela Cia de Aviacion SAB de C.V.		2,019
	121,857	*	Controladora Vuela Cia de Aviacion SAB de C.V. (ADR)		2,568
	123,677	e	Copa Holdings S.A. (Class A)		8,379
	1,096,000	e	Cosco International Holdings Ltd		564
	4,598,104		COSCO Pacific Ltd		6,028
	158,789		Costamare, Inc		1,413
	27,749	*	Covenant Transportation Group, Inc		671
	2,332,095		CSX Corp		60,051
	128,692		CTT-Correios de Portugal S.A.		1,210
	520,200	e	CWT Ltd		757
	20,229	*,e	D/S Norden		295
	498,755		Dart Group plc		4,756
	448,650		Dazhong Transportation Group Co Ltd		578
	4,194,451		Delta Air Lines, Inc		204,186
	1,253,878	*	Deutsche Lufthansa AG.		20,237
	1,368,624		Deutsche Post AG.		37,985
	98,315		Dfds A.S.		3,574
	514,939		DP World Ltd		9,672
	300,672		DSV AS		12,506
	488,397		DX Group plc		163
	608,469		East Japan Railway Co		52,486
	2,065,621		easyJet plc		44,958
	98,277	*,e	Echo Global Logistics, Inc		2,669
	816,900		EcoRodovias Infraestrutura e Logistica S.A.		1,363
	72,700	*,e	eHi Car Services Ltd (ADR)		908
	65,731	*,e,g	Europcar Groupe S.A.		711
	4,480,076	*	Eva Airways Corp		2,504
	462,000		Evergreen International Storage & Transport Corp		194
	1,524,165		Evergreen Marine Corp Tawain Ltd		566
	204,565		Expeditors International of Washington, Inc		9,985
	681,039		FedEx Corp		110,819

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,032,370	*	Firstgroup plc	$	1,431
	16,127		Flughafen Wien AG.		1,760
	3,901		Flughafen Zuerich AG.		3,490
	76,069		Forward Air Corp		3,447
	49,257		Fraport AG. Frankfurt Airport Services Worldwide		2,983
	300,494		Freightways Ltd		1,318
	361,000	e	Fukuyama Transporting Co Ltd		1,759
	115,781		Gateway Distriparks Ltd		490
	139,048	*	Genesee & Wyoming, Inc (Class A)		8,718
	21,426		GLOVIS Co Ltd		3,536
	106,869		Go-Ahead Group plc		4,045
	102,106	*	Gol Linhas Aereas Inteligentes S.A.		79
	62,450	*,e	Golden Ocean Group Ltd		43
	65,582	*,e	Golden Ocean Group Ltd (Oslo)		46
	498,083	e	Grindrod Ltd		388
	581,767		Groupe Eurotunnel S.A.		6,513
	629,000	*,e	Grupo Aeromexico SAB de C.V.		1,513
	621,650		Grupo Aeroportuario del Centro Norte Sab de C.V.		3,549
	337,991	e	Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		3,015
	366,688		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		5,523
	972,572		Guangdong Provincial Expressway Development Co Ltd		505
	663,000		Guangdong Yueyun Transportation Co Ltd		404
	198,958	*	Gujarat Pipavav Port Ltd		530
	1,299,804	*	GVK Power & Infrastructure Ltd		133
	134,000		Hainan Meilan International Airport Co Ltd		150
	24,405		Hamburger Hafen und Logistik AG.		359
	37,816		Hanjin Kal Corp		739
	125,274	*	Hanjin Shipping Co Ltd		352
	28,296		Hanjin Transportation Co Ltd		984
	1,406,532		Hankyu Hanshin Holdings, Inc		8,970
	199,708	*	Hawaiian Holdings, Inc		9,424
	125,101	e	Heartland Express, Inc		2,321
	3,022,784	*	Hertz Global Holdings, Inc		31,830
	170,300		Hitachi Transport System Ltd		2,843
	2,538,804	e	Hopewell Highway Infrastructure Ltd		1,247
	253,330	*	Hub Group, Inc (Class A)		10,333
	5,929,653	e	Hutchison Port Holdings Trust		2,967
	91,255	*	Hyundai Merchant Marine Co Ltd		176
	1,939	*	ID Logistics Group		232
	72,357	e	Iino Kaiun Kaisha Ltd		287
	4,549	*	Integer.pl S.A.		99
	1,183,983		International Consolidated Airlines Group S.A.		9,421
	2,996,249		International Consolidated Airlines Group S.A. (London)		23,760
	1,516,387		International Container Term Services, Inc		2,228
	608,815		Irish Continental Group plc		3,767
	116,543		J.B. Hunt Transport Services, Inc		9,818
	966,331		Japan Airlines Co Ltd		35,426
	30,900	e	Japan Airport Terminal Co Ltd		1,097
	284,518	*	Jet Airways India Ltd		2,347
	1,526,696	*	JetBlue Airways Corp		32,244
	3,324,123		Jiangsu Express		4,477
	204,710		Jinzhou Port Co Ltd		119

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	62,200		Julio Simoes Logistica S.A.	$	153
	590,587		Kamigumi Co Ltd		5,556
	945,170		Kansas City Southern Industries, Inc		80,765
	1,385,400	e	Kawasaki Kisen Kaisha Ltd		2,682
	404,338	e	Keihin Electric Express Railway Co Ltd		3,556
	479,586		Keio Corp		4,209
	64,322		Keisei Electric Railway Co Ltd		905
	966,547	e	Kerry Logistics Network Ltd		1,391
	1,392,179	e	Kintetsu Corp		5,642
	29,700		Kintetsu World Express, Inc		394
	178,879	*	Kirby Corp		10,785
	153,335	e	Knight Transportation, Inc		4,010
	60,600		Konoike Transport Co Ltd		709
	6,702	*	Korea Express Co Ltd		1,114
	12,104	*	Korea Line Corp		180
	35,832	*	Korean Air Lines Co Ltd		970
	179,134		Kuehne & Nagel International AG.		25,458
	321,159	*	Lan Airlines S.A.		2,250
	162,895		Landstar System, Inc		10,525
	159,243		Localiza Rent A Car		1,316
	3,818		Logistec Corp		129
	637,479		Macquarie Atlas Roads Group		2,344
	128,033		Macquarie Infrastructure Co LLC		8,635
	872,508		Malaysia Airports Holdings BHD		1,521
	57,754		Marten Transport Ltd		1,081
	104,000		Maruzen Showa Unyu Co Ltd		365
	217,247		Matson, Inc		8,727
	4,020,444		MISC BHD		9,171
	26,349	e	Mitsubishi Logistics Corp		346
	752,812	e	Mitsui OSK Lines Ltd		1,532
	411,610	e	Mitsui-Soko Co Ltd		1,096
	2,044,564	e	MTR Corp		10,133
	1,922,700		Mundra Port and Special Economic Zone Ltd		7,189
	657,055	e	Nagoya Railroad Co Ltd		3,068
	241,100		Namyong Terminal PCL		96
	726,000		Nankai Electric Railway Co Ltd		3,939
	1,006,025		National Express Group plc		4,958
	203,550	e	Navios Maritime Holdings, Inc		230
	1,434,100	*,e	Neptune Orient Lines Ltd		1,351
	1,472,261		Nippon Express Co Ltd		6,694
	148,700	e	Nippon Konpo Unyu Soko Co Ltd		2,691
	1,946,084		Nippon Yusen Kabushiki Kaisha		3,753
	290,000		Nishi-Nippon Railroad Co Ltd		1,890
	171,000		Nissin Corp		467
	672,942		Norfolk Southern Corp		56,022
	300,661		Northgate plc		1,741
	25,440	*,e	Norwegian Air Shuttle AS		955
	145,037	e	Odakyu Electric Railway Co Ltd		1,578
	91,376		Oesterreichische Post AG.		3,711
	2,598,911	*,e	OHL Mexico SAB de CV		4,113
	169,289	*,e	Old Dominion Freight Line		11,786
	252,500		Orient Overseas International Ltd		976

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	5,397,290		Pacific Basin Shipping Ltd	$	794
	10,126	*,e	PAM Transportation Services, Inc		312
	10,040		Panalpina Welttransport Holding AG.		1,121
	21,369		Park-Ohio Holdings Corp		915
	43,832	*	Pegasus Hava Tasimaciligi AS.		267
	7,222		Piraeus Port Authority		91
	57,369		PKP Cargo S.A.		658
	743,600		Pos Malaysia & Services Holdings BHD		514
	511,950	*	Precious Shipping PCL		87
	596,059		Promotora y Operadora de Infraestructura SAB de C.V.		7,925
	12,753,500	*,m	PT Berlian Laju Tanker Tbk		0	^
	2,029,402		PT Jasa Marga Tbk		826
	7,878,546		Qantas Airways Ltd		24,592
	2,257,282		QR National Ltd		6,859
	626,710	e	Qube Logistics Holdings Ltd		1,133
	104,546	*,e	Radiant Logistics, Inc		373
	396,332	e	Redde plc		950
	68,223	*	Roadrunner Transportation Services Holdings, Inc		850
	1,283,174		Royal Mail plc		8,848
	160,944	*	Rumo Logistica Operadora Multimodal S.A.		150
	3,088	*	Ryanair Holdings plc		50
	385,323		Ryanair Holdings plc (ADR)		33,068
	306,006		Ryder System, Inc		19,823
	383,000	e	Sagami Railway Co Ltd		2,346
	61,619	*	Saia, Inc		1,735
	96	*,m	SAir Group		0
	9,200	e	Sakai Moving Service Co Ltd		278
	817,000	e	Sankyu, Inc		3,728
	104,500		Santos Brasil Participacoes S.A.		381
	784,484	*,e	SAS AB		2,230
	74,207	e	Seaspan Corp		1,361
	12,157		Sebang Co Ltd		183
	499,000		Seino Holdings Corp		5,368
	157,000	e	Senko Co Ltd		956
	877,800		Shandong Airlines Co Ltd		2,197
	159,300		Shanghai Jinjiang International Investment Holdings Co		333
	71,200	m	Shenzhen Chiwan Petroleum		153
	121,900		Shenzhen Chiwan Wharf Holdings Ltd		212
	2,324,000		Shenzhen Expressway Co Ltd		2,032
	1,049,691		Shenzhen International Holdings Ltd		1,704
	104,000	e	Shinwa Kaiun Kaisha Ltd		140
	90,819	*	Shipping Corp of India Ltd		89
	4,015,097		Shun TAK Holdings Ltd		1,330
	3,118,000	e	Sichuan Expressway Co Ltd		1,034
	292,000		Sincere Navigation		180
	196,549		Singapore Airlines Ltd		1,665
	2,330,400		Singapore Airport Terminal Services Ltd		6,827
	1,469,719	e	Singapore Post Ltd		1,782
	8,504,000		Sinotrans Ltd		3,724
	3,649,000	e	Sinotrans Shipping Ltd		611
	1,021,000	e	SITC International Co Ltd		505
	13,691		Sixt AG.		736

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	43,361		Sixt AG. (Preference)	$	1,852
	316,693		Skywest, Inc		6,331
	660,000	e	SMRT Corp Ltd		739
	70,692		Societa Iniziative Autostradali e Servizi S.p.A.		724
	2,238,165		Southwest Airlines Co		100,270
	234,612	*	Spirit Airlines, Inc		11,257
	1,329,114		Stagecoach Group plc		4,803
	46,873		Stolt-Nielsen S.A.		528
	72,379	*,e	Student Transportation, Inc		368
	116,767		Sumitomo Warehouse Co Ltd		594
	393,552	*,e	Swift Transportation Co, Inc		7,332
	1,917,779		Sydney Airport		9,824
	317,000		T.Join Transportation Co		409
	157,007		TAV Havalimanlari Holding AS		937
	2,211,100	*	Thai Airways International PCL-Foreign		929
	690,935		Thoresen Thai Agencies PCL		155
	5,244,000		Tianjin Port Development Holdings Ltd		805
	650,731		TNT Express NV		5,838
	378,716	*	TNT NV		1,540
	786,033	e	Tobu Railway Co Ltd		3,919
	1,674,935		Tokyu Corp		14,028
	6,100		Trancom Co Ltd		357
	518,248	e	TransForce, Inc		8,910
	1,806,417		Transurban Group (ASE)		15,691
	157,431		Trencor Ltd		491
	3,063,438	*	Turk Hava Yollari		8,475
	389,000		U-Ming Marine Transport Corp		308
	3,813,792		Union Pacific Corp		303,387
	1,255,672		United Continental Holdings, Inc		75,165
	2,497,173		United Parcel Service, Inc (Class B)		263,377
	32,038		Universal Truckload Services, Inc		528
	61,641	*	USA Truck, Inc		1,161
	61,523	*,e	Virgin America, Inc		2,372
	726,675	*	Virgin Australia Holdings Ltd		203
	67,336	*,m	Virgin Australia Int Holdings		0	^
	21,075		VRL Logistics Ltd		117
	33,634	e	VTG AG.		1,027
	108,763		Werner Enterprises, Inc		2,954
	157,348	*	Wesco Aircraft Holdings, Inc		2,264
	398,887		West Japan Railway Co		24,630
	770,400		Westports Holdings BHD		815
	234,484	e	Westshore Terminals Investment Corp		3,136
	57,323		Wilh. Wilhelmsen ASA		284
	221,494		Wisdom Marine Lines Co Ltd		253
	32,600	*,g	Wizz Air Holdings plc		862
	2,930,000		Xiamen International Port Co Ltd		601
	172,418	*,e	XPO Logistics, Inc		5,293
	80,166	e	Yamato Transport Co Ltd		1,598
	1,300,000	*	Yang Ming Marine Transport		346
	120,793	*,e	YRC Worldwide, Inc		1,126
	1,392,000	e	Yuexiu Transport Infrastructure Ltd		939
	48,900		Yusen Air & Sea Service Co Ltd		569

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	5,440,819		Zhejiang Expressway Co Ltd	$	5,839
			TOTAL TRANSPORTATION		2,809,351
UTILITIES - 3.4%
	1,211,025		A2A S.p.A.		1,573
	171,261	e	Abengoa Yield plc		3,045
	3,544,076		Aboitiz Power Corp		3,383
	76,977		Acciona S.A.		5,949
	147,616		ACEA S.p.A.		2,261
	330,703	e	Actelios S.p.A.		362
	611,545	*	Adani Power Ltd		318
	246,630	*	Adani Transmissions Ltd		128
	1,475,003		AES Corp		17,405
	2,283,949		AES Gener S.A.		1,154
	40,000	*	AES Tiete S.A.		172
	348,364	*,m	AET&D Holdings No 1  Ptd Ltd		0
	816,124	e	AGL Energy Ltd		11,490
	136,896		AGL Resources, Inc		8,917
	2,714,959		Aguas Andinas S.A.		1,551
	275,162	*	Akenerji Elektrik Uretim AS		95
	170,379	*	Aksa Enerji Uretim AS		164
	294,918	e	Algonquin Power & Utilities Corp		2,468
	194,573		Allete, Inc		10,910
	216,545		Alliant Energy Corp		16,085
	168,700		Alupar Investimento S.A.		697
	20,696	*	Amata VN PCL		5
	1,091,195		Ameren Corp		54,669
	3,222,680		American Electric Power Co, Inc		213,986
	143,866		American States Water Co		5,663
	717,711		American Water Works Co, Inc		49,472
	965,168		APA Group		6,510
	346,913		Aqua America, Inc		11,039
	24,959		Artesian Resources Corp		698
	134,343		Ascopiave S.p.A.		350
	91,200	e	Atco Ltd		2,758
	38,529		Athens Water Supply & Sewage Co S.A.		189
	321,631	e	Atlantic Power Corp		791
	244,927	e	Atlantic Power Corp (Toronto)		602
	177,508		Atmos Energy Corp		13,182
	3,875,880		AusNet Services		4,425
	95,386	e	Avangrid, Inc		3,826
	200,039		Avista Corp		8,158
	238,896		Aygaz AS		1,034
	8,105,011	e	Beijing Enterprises Water Group Ltd		5,085
	16,138,900		Benpres Holdings Corp		2,448
	39,643	e	BKW S.A.		1,666
	204,275		Black Hills Corp		12,283
	41,856		Boralex, Inc		519
	167,512		California Water Service Group		4,476
	424,577	*	Calpine Corp		6,441
	126,387		Canadian Utilities Ltd		3,537
	471,000	*	Canvest Environment Protection Group Co Ltd		219

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	139,105	e	Capital Power Corp	$	1,928
	107,204	e	Capital Stage AG.		893
	1,138,127		Centerpoint Energy, Inc		23,810
	251,479		Centrais Eletricas Brasileiras S.A. (Preference)		734
	4,326,242		Centrica plc		14,133
	114,953		CESC Ltd		820
	279,282		CEZ AS		4,919
	5,400,000	*,e	CGN New Energy Holdings Co Ltd		926
	9,784,000	g	CGN Power Co Ltd		3,315
	161,865	*,m	Chennai Super Kings Cricket Ltd		6
	36,066		Chesapeake Utilities Corp		2,271
	875,344	e	Cheung Kong Infrastructure Holdings Ltd		8,560
	2,692,000	*,e	China Datang Corp Renewable Power Co Ltd		306
	8,207,825	e	China Gas Holdings Ltd		12,115
	3,649,813		China Longyuan Power Group Corp		2,701
	5,008,000	e	China Oil and Gas Group Ltd		304
	17,403,000		China Power International Development Ltd		9,015
	14,040,000		China Power New Energy Development Co Ltd		1,053
	1,022,668		China Resources Gas Group Ltd		2,921
	5,870,547	e	China Resources Power Holdings Co		10,975
	804,000		China Water Affairs Group Ltd		331
	1,148,000	*,e	China Water Industry Group Ltd		189
	1,320,839		Chubu Electric Power Co, Inc		18,433
	231,652	e	Chugoku Electric Power Co, Inc		3,125
	386,670		Cia de Saneamento Basico do Estado de Sao Paulo		2,579
	60,265		Cia de Saneamento de Minas Gerais-COPASA		313
	2,392,462		Cia Energetica de Minas Gerais		5,383
	212,287		Cia Energetica de Sao Paulo (Class B)		936
	10,604		Cia Energetica do Ceara		114
	418,471		Cia Paranaense de Energia		3,334
	2,073,100		CK Power PCL		134
	175,555	e	Cleco Corp		9,692
	4,093,359		CLP Holdings Ltd		37,051
	2,543,953		CMS Energy Corp		107,965
	15,123,623		Colbun S.A.		4,214
	32,110	e	Connecticut Water Service, Inc		1,448
	472,302		Consolidated Edison, Inc		36,188
	36,514	e	Consolidated Water Co, Inc		444
	905,391		Contact Energy Ltd		3,129
	216,843		CPFL Energia S.A.		1,182
	2,478,000	e	CT Environmental Group Ltd		728
	3,447,087	e	Datang International Power Generation Co Ltd		1,063
	1,650,935		Dominion Resources, Inc		124,018
	1,073,301	e	Drax Group plc		4,189
	898,126		DTE Energy Co		81,424
	3,654,953	m	DUET Group (ASE Exchange)		6,276
	2,101,427		Duke Energy Corp		169,543
	1,038,171	*	Dynegy, Inc		14,919
	1,253,950	*	E.CL SA		2,052
	2,297,790		E.ON AG.		21,971
	2,672		E1 Corp		152

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	493,600		Eastern Water Resources Development and Management PCL	$	181
	1,056,952		Edison International		75,984
	1,253,820		EDP - Energias do Brasil S.A.		4,394
	151,380		El Paso Electric Co		6,945
	367,400		Electric Power Development Co		11,461
	598,973	e	Electricite de France		6,706
	93,500	*	Eletropaulo Metropolitana de Sao Paulo S.A.		210
	33,919		Elia System Operator S.A.		1,686
	121,795		Empire District Electric Co		4,025
	3,876,840		Empresa Nacional de Electricidad S.A.		5,393
	50,574		Enagas		1,518
	1,397,298		Endesa S.A.		26,777
	191,974		Enea S.A.		612
	630,801		Enel Green Power S.p.A		1,354
	9,335,386		Enel S.p.A.		41,386
	602,046		Energa S.A.		2,112
	5,944,643		Energias de Portugal S.A.		21,106
	612,936	*,e	Energy World Corp Ltd		113
	33,469,288		Enersis S.A.		9,269
	1,311,695		ENN Energy Holdings Ltd		7,209
	550,634		Entergy Corp		43,654
	183,000		Equatorial Energia S.A.		2,085
	40,000	e	eRex Co Ltd		647
	465,822		ERM Power Ltd		511
	484,411		Eversource Energy		28,261
	36,845		EVN AG.		423
	2,456,242		Exelon Corp		88,081
	206,260		Federal Grid Co Unified Energy System JSC (ADR)		99
	1,925,600		First Gen Corp		927
	611,050		First Philippine Holdings Corp		876
	1,379,093		FirstEnergy Corp		49,606
	495,532	e	Fortis, Inc		15,533
	684,915	e	Fortum Oyj		10,358
	516,985		GAIL India Ltd		2,782
	698,000		Gas Malaysia BHD		427
	404,137		Gas Natural SDG S.A.		8,159
	1,669,146		Gaz de France		25,861
	1,201,982		Genesis Energy Ltd		1,701
	32,680	e	Genie Energy Ltd		249
	400,800		Global Power Synergy Co Ltd		299
	447,143		Glow Energy PCL (Foreign)		1,168
	213,700		Great Plains Energy, Inc		6,892
	3,114,143		Guangdong Investments Ltd		3,938
	66,991		Gujarat Gas Co Ltd		559
	145,523		Gujarat State Petronet Ltd		311
	10,304		Hanjin Heavy Industries & Construction Holdings Co Ltd		51
	128,734	*	Hawaiian Electric Industries, Inc		4,171
	1,260,348		Hera S.p.A.		3,762
	3,225,500	e,g	HK Electric Investments & HK Electric Investments Ltd		2,841
	327,900	*	Hokkaido Electric Power Co, Inc		2,747
	133,242		Hokuriku Electric Power Co		1,884

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,123,593	e	Hong Kong & China Gas Ltd	$	11,447
	1,530,319		Hong Kong Electric Holdings Ltd		15,662
	467,930	*	Huadian Energy Co Ltd		245
	6,654,000		Huadian Power International Co		4,246
	6,839,066		Huaneng Power International, Inc		6,132
	7,646,000		Huaneng Renewables Corp Ltd		2,377
	1,380,100	e	Hyflux Ltd		614
	10,857,453		Iberdrola S.A.		72,278
	125,197		Idacorp, Inc		9,338
	71,572	*	Indiabulls Infrastructure and Power Ltd		4
	70,444		Indraprastha Gas Ltd		606
	746,400	e	Infraestructura Energetica ,NV SAB de C.V.		3,051
	2,035,872	e	Infratil Ltd		4,613
	84,417	e	Innergex Renewable Energy, Inc		917
	1,027,900		Inter Far East Energy Corp		205
	288,020		Interconexion Electrica S.A.		830
	1,010,775		Inversiones Aguas Metropolitanas S.A.		1,605
	920,952		Iride S.p.A.		1,649
	232,033		ITC Holdings Corp		10,110
	359,630	e	Just Energy Income Fund		2,138
	11,600		K&O Energy Group, Inc		143
	700,000	*,e,g	Kangda International Environmental Co Ltd		162
	808,815	*	Kansai Electric Power Co, Inc		7,156
	16,744	*	Kenon Holdings Ltd		133
	224,921		Keppel Infrastructure Trust		83
	2,700,000	*	Kong Sun Holdings Ltd		136
	11,826		Korea District Heating Corp		736
	520,126		Korea Electric Power Corp		27,247
	30,944		Korea Gas Corp		1,039
	2,128		KyungDong City Gas Co Ltd		146
	370,477	*,e	Kyushu Electric Power Co, Inc		3,520
	115,685		Laclede Group, Inc		7,838
	80,000		Light S.A.		221
	1,860,200		Manila Water Co, Inc		1,091
	545,477		MDU Resources Group, Inc		10,615
	3,126,913	*	Meridian Energy Ltd		5,657
	83,271		MGE Energy, Inc		4,351
	50,860		Middlesex Water Co		1,569
	517,553		Mighty River Power Ltd		1,045
	127,372		National Fuel Gas Co		6,375
	6,596,723		National Grid plc		93,339
	207,924		New Jersey Resources Corp		7,575
	2,811,136		NextEra Energy, Inc		332,670
	1,817,336		NiSource, Inc		42,816
	175,746	e	Northland Power Income Fund		2,899
	76,983		Northwest Natural Gas Co		4,146
	113,963		NorthWestern Corp		7,037
	674,592		NRG Energy, Inc		8,776
	275,898	e	NRG Yield, Inc (Class A)		3,744
	154,967	e	NRG Yield, Inc (Class C)		2,207
	2,459,028		NTPC Ltd		4,783
	538,895		OGE Energy Corp		15,429

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	197,100		Okinawa Electric Power Co, Inc	$	5,303
	161,058		ONE Gas, Inc		9,841
	90,303	e	Ormat Technologies, Inc		3,724
	2,386,188	e	Osaka Gas Co Ltd		9,160
	91,616		Otter Tail Corp		2,714
	150,836	*	Pampa Energia S.A. (ADR)		3,234
	230,952	e	Pattern Energy Group, Inc		4,404
	397,314		Pennon Group plc		4,621
	1,943,500		Petronas Gas BHD		10,956
	1,681,643		PG&E Corp		100,428
	192,572		Piedmont Natural Gas Co, Inc		11,522
	633,427		Pinnacle West Capital Corp		47,551
	342,069		PNM Resources, Inc		11,535
	11,218,108		PNOC Energy Development Corp		1,434
	1,447,756		Polska Grupa Energetyczna S.A.		5,413
	214,698		Portland General Electric Co		8,478
	2,625,302		PPL Corp		99,945
	14,720,487		PT Perusahaan Gas Negara Persero Tbk		2,902
	1,228,867		PTC India Ltd		1,187
	151,751		Public Power Corp		537
	1,154,492		Public Service Enterprise Group, Inc		54,423
	142,800		Puncak Niaga Holding BHD		50
	31,206		Qatar Electricity & Water Co		1,800
	171,644		Questar Corp		4,257
	24,526		Red Electrica de Espana		2,125
	732,703	e	Redes Energeticas Nacionais S.A.		2,399
	477,241		Reliance Energy Ltd		3,842
	86,387	*,m	Rosseti PJSC (ADR)		148
	33,335	e	Rubis		2,674
	1,349,408	e	RusHydro PJSC (ADR)		1,356
	996,926		RWE AG.		12,825
	1,212,499		Saeta Yield S.A.		12,050
	8,448		Samchully Co Ltd		776
	489,400	*	Scan Inter PCL		94
	271,775		SCANA Corp		19,065
	36,664	e,g	Scatec Solar ASA		173
	424,593		Scottish & Southern Energy plc		9,086
	15,648		Sechilienne-Sidec		242
	1,321,747		Sempra Energy		137,528
	238,458	e	Severn Trent plc		7,428
	207,100	*	Shenzhen Nanshan Power Co Ltd		123
	138,984		Shikoku Electric Power Co, Inc		1,863
	109,800		Shizuoka Gas Co Ltd		735
	1,414,880	*,e	SIIC Environment Holdings Ltd		718
	51,469		SJW Corp		1,871
	2,859,921		Snam Rete Gas S.p.A.		17,897
	128,000	*,e	Sound Global Ltd		58
	318,736		South Jersey Industries, Inc		9,068
	1,025,118		Southern Co		53,029
	198,327		Southwest Gas Corp		13,060
	19,956	e	Spark Energy, Inc		359
	2,104,665		Spark Infrastructure Group		3,339

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	462,900		SPCG PCL	$	275
	157,841	e	SPDR S&P Metals & Mining ETF		3,234
	1,274,326		Suez Environnement S.A.		23,328
	377,579	e	Superior Plus Corp		2,686
	331,450		Taiwan Cogeneration Corp		249
	205,157	*	Talen Energy Corp		1,846
	342,300		Taliworks Corp BHD		115
	1,530,034		Tata Power Co Ltd		1,493
	1,976,662		Tauron Polska Energia S.A.		1,592
	243,524		TECO Energy, Inc		6,704
	157,635	e	Telecom Plus plc		2,083
	4,496,065		Tenaga Nasional BHD		16,063
	46,011		Terna Energy S.A.		148
	2,041,633		Terna Rete Elettrica Nazionale S.p.A.		11,641
	100,310	e	TerraForm Global, Inc		239
	104,193	e	TerraForm Power, Inc		901
	702,400	*	Thai Solar Energy PCL		86
	1,334,400		Thai Tap Water Supply PCL		379
	1,818,000		Tianjin Development Hldgs Ltd		923
	540,007	e	Toho Gas Co Ltd		3,833
	1,392,775		Tohoku Electric Power Co, Inc		17,949
	2,620,819	*	Tokyo Electric Power Co, Inc		14,398
	3,217,813		Tokyo Gas Co Ltd		15,000
	212,326		Torrent Power Ltd		743
	3,187,000		Towngas China Co Ltd		1,643
	164,819		Tractebel Energia S.A.		1,681
	258,910		TransAlta Corp		1,204
	336,893	e	TransAlta Renewables, Inc		3,281
	87,021		Transmissora Alianca de Energia Eletrica S.A.		488
	404,480		UGI Corp		16,297
	2,300,000	*,e	United Photovoltaics Group Ltd		190
	447,071		United Utilities Group plc		5,918
	43,358		Unitil Corp		1,842
	51,747	e	Utilities Select Sector SPDR Fund		2,568
	36,464		VA Tech Wabag Ltd		285
	108,712	e	Valener, Inc		1,713
	25,000	e	Vanguard FTSE Developed Markets ETF		897
	218,501		Vectren Corp		11,047
	1,227,640		Veolia Environnement		29,548
	53,745	*,e	Vivint Solar, Inc		142
	2,008,560		VPC Specialty Lending Investments plc		2,507
	392,432		WEC Energy Group, Inc		23,573
	559,999		Westar Energy, Inc		27,782
	118,991		WGL Holdings, Inc		8,611
	4,474,120		Xcel Energy, Inc		187,108
	6,425		YESCO Co Ltd		208
	31,882		York Water Co		973
	8,409,886		YTL Corp BHD		3,535
	3,463,664		YTL Power International BHD		1,314
	100,000	*	Yunnan Water Investment Co Ltd		58
	193,376	*	Zorlu Enerji Elektrik Uretim AS		115
			TOTAL UTILITIES		3,736,223

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
			TOTAL COMMON STOCKS	$	110,182,418
			(Cost $105,817,821)
PURCHASED OPTIONS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
	1,000		Goldman Sachs Group, Inc		1
	2,000		Morgan Stanley		1
	2,500		S&P 500 Index		33
	2,000		S&P 500 Index		141
	1,000		S&P 500 Index		50
	300,000		S&P 500 Index		5,580
	10,000		S&P 500 Index		30
	10,000		S&P 500 Index		7
			TOTAL DIVERSIFIED FINANCIALS		5,843
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	3,000		Express Scripts Holding Co		5
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		5
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	53,000		Apple, Inc		154
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		154
			TOTAL PURCHASED OPTIONS		6,002
			(Cost $11,945)
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	6,999,965	*	ITAUSA Investimentos Itau PR		15,905
			TOTAL BANKS		15,905
CAPITAL GOODS - 0.0%
	30,203		Villeroy & Boch AG		495
			TOTAL CAPITAL GOODS		495
DIVERSIFIED FINANCIALS - 0.0%
	300,000		Daishin Securities Co Ltd Pref 2		1,896
			TOTAL DIVERSIFIED FINANCIALS		1,896
REAL ESTATE - 0.0%
	8,497,223	*,m	Ayala Land, Inc (Preferred B)		19
			TOTAL REAL ESTATE		19
			TOTAL PREFERRED STOCKS		18,315
			(Cost $28,552)
RIGHTS / WARRANTS - 0.0%
BANKS - 0.0%
	5,681		Banco de Credito e Inversiones		12
			TOTAL BANKS		12

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
CAPITAL GOODS - 0.0%
	302,304	m	Cairn Homes plc	$	13
	30,914		PDG Realty S.A. Empreendimentos e Participacoes		0	^
			TOTAL CAPITAL GOODS		13
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	48,026		WCT Holdings BHD		3
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		3
CONSUMER DURABLES & APPAREL - 0.0%
	102,413	e,m	Vince Holding Corp		27
			TOTAL CONSUMER DURABLES & APPAREL		27
CONSUMER SERVICES - 0.0%
	167,219		Minor International PCL		22
			TOTAL CONSUMER SERVICES		22
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%
	190,191		Community Health Systems, Inc		1
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1
INSURANCE - 0.0%
	236,565	e	Delta Lloyd NV		329
	20,490		Qatar Insurance Co SAQ		174
			TOTAL INSURANCE		503
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	2,121	e	BioTime, Inc		1
	55,620	m	Forest Laboratories, Inc CVR		53
	17,790	e,m	Omthera Pharmaceuticals, Inc		11
	2,446	m	Sun Pharma Advanced Research Co Ltd		2
	228,016	e,m	Trius Therapeutics, Inc		30
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		97
REAL ESTATE - 0.0%
	4,761,352	m	BGP Holdings plc		0
	209,978	m	OUE Hospitality Trust		0
	47,582	m	Primary Health Properties plc		1
			TOTAL REAL ESTATE		1

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

								VALUE
SHARES			COMPANY					(000)
SOFTWARE & SERVICES - 0.0%
	141,205	m	Gerber Scientific, Inc					$	0
			TOTAL SOFTWARE & SERVICES						0
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%
	142,433	m	Qube Holdings Ltd						34
	2		Thoresen Thai Agencies PCL						0	^
			TOTAL TRANSPORTATION						34
			TOTAL RIGHTS / WARRANTS						1,231
			(Cost $1,078)
							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 4.9%
GOVERNMENT AGENCY DEBT - 0.3%
$	60,000,000	d	Federal Home Loan Bank (FHLB)		0.310	%	04/05/16		59,999
	61,000,000		FHLB		0.280		04/20/16		60,993
	24,400,000	d	FHLB		0.366		05/13/16		24,393
	11,300,000		FHLB		0.385		05/18/16		11,296
	50,000,000	d	FHLB		0.400		05/19/16		49,983
	36,000,000	d	FHLB		0.390		05/27/16		35,985
	33,000,000	d	Federal Home Loan Mortgage Corp (FHLMC)		0.391		05/04/16		32,992
	5,000,000		Federal National Mortgage Association (FNMA)		0.612		06/08/16		4,997
			TOTAL GOVERNMENT AGENCY DEBT						280,638
TREASURY DEBT - 0.3%
	99,000,000		United States Treasury Bill		0.240		04/14/16		98,996
	56,300,000		United States Treasury Bill		0.233		04/21/16		56,296
	50,000,000		United States Treasury Bill		0.255		05/26/16		49,987
	39,000,000		United States Treasury Bill		0.311-0.398		06/09/16		38,987
	7,000,000	d	United States Treasury Bill		0.121		06/23/16		6,997
	38,600,000	d	United States Treasury Bill		0.412		07/28/16		38,563
	50,000,000	d	United States Treasury Note		0.250		04/15/16		50,000
			TOTAL TREASURY DEBT						339,826
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 4.3%
CERTIFICATE OF DEPOSIT - 0.4%
	243,000,000		Deutsche Bank (Cayman) Ltd		0.390		04/01/16		243,000
	240,000,000		National Australia Bank Ltd		0.220		04/01/16		240,000
			TOTAL CERTIFICATE OF DEPOSIT						483,000

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
GOVERNMENT AGENCY DEBT - 0.0%
$	31,000,000		Federal National Mortgage Association (FNMA)		0.075	%	04/01/16	$	31,000
			TOTAL GOVERNMENT AGENCY DEBT						31,000
REPURCHASE AGREEMENT - 3.3%
	375,000,000	p	Barclays		0.300		04/01/16		375,000
	175,000,000	q	Barclays		0.500		04/01/16		175,000
	75,000,000	r	Barclays		0.300		04/01/16		75,000
	25,000,000	s	Barclays		0.320		04/05/16		25,000
	150,000,000	t	Calyon		0.300		04/01/16		150,000
	125,000,000	u	Calyon		0.310		04/04/16		125,000
	400,000,000	v	Citigroup		0.320		04/01/16		400,000
	238,000,000	w	Deutsche Bank		0.320		04/01/16		238,000
	85,000,000	x	Deutsche Bank		0.300		04/01/16		85,000
	225,000,000	y	Goldman Sachs		0.290		04/04/16		225,000
	500,000,000	z	Goldman Sachs		0.290		04/07/16		500,000
	20,000,000	aa	HSBC		0.270		04/01/16		20,000
	451,356,000	ab	JP Morgan Chase		0.400		04/01/16		451,356
	400,000,000	ac	Nomura		0.320		04/01/16		400,000
	100,000,000	ad	Royal Bank of Scotland		0.300		04/01/16		100,000
	300,000,000	ae	Royal Bank of Scotland		0.310		04/05/16		300,000
			TOTAL REPURCHASE AGREEMENT						3,644,356
TREASURY DEBT - 0.5%
	300,000,000		United States Treasury Bill		0.257-0.266		04/07/16		299,986
	200,000,000		United States Treasury Bill		0.261-0.266		04/14/16		199,980
			TOTAL TREASURY DEBT						499,966
VARIABLE RATE SECURITIES - 0.1%
	141,789,789	i	SLM Student Loan Trust 2007		0.118		01/25/19		140,693
			TOTAL VARIABLE RATE SECURITIES						140,693
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						4,799,015
			TOTAL SHORT-TERM INVESTMENTS						5,419,479
			(Cost $5,420,330)
			TOTAL INVESTMENTS - 104.1%					$	115,628,184
			(Cost $111,280,548)
			OTHER ASSETS & LIABILITIES, NET - (4.1)%						(4,502,079	)
			NET ASSETS - 100.0%					$	111,126,105

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

	Abbreviation(s):
	ADR	American Depositary Receipt
	BRL	Brazilian Real
	ETF	Exchange Traded Fund
	GDR	Global Depositary Receipt
	NVDR	Non Voting Depository Receipt
	REIT	Real Estate Investment Trust
	SPDR	Standard & Poor’s Depository Receipts
*	Non-income producing
^	Amount represents less than $1,000.
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 $4,661,907,000.
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 3/31/16, the aggregate value of these securities was $298,341,000, or 0.3% 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 options.
p	Agreement with Barclays, 0.30% dated 3/31/16 to be repurchased at $375,000,000 on 4/01/16, collateralized by U.S. Treasury Securities valued at $375,003,000.
q	Agreement with Barclays, 0.50% dated 3/31/16 to be repurchased at $175,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $178,500,000.
r	Agreement with Barclays, 0.30% dated 3/31/16 to be repurchased at $75,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $76,500,000.
s	Agreement with Barclays, 0.32% dated 3/29/16 to be repurchased at $25,000,000 on 4/05/16, collateralized by U.S. Government Agency Securities valued at $25,500,000.
t	Agreement with Calyon, 0.30% dated 3/31/16 to be repurchased at $150,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $153,000,000.
u	Agreement with Calyon, 0.31% dated 3/28/16 to be repurchased at $125,000,000 on 4/04/16, collateralized by U.S. Government Agency Securities valued at $127,500,000.
v	Agreement with Citigroup, 0.32% dated 3/28/16 to be repurchased at $400,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $408,000,000.
w	Agreement with Deutsche Bank, 0.32% dated 3/31/16 to be repurchased at $238,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $242,760,000.
x	Agreement with Deutsche Bank, 0.30% dated 3/31/16 to be repurchased at $85,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $86,700,000.
y	Agreement with Goldman Sachs, 0.29% dated 3/28/16 to be repurchased at $225,000,000 on 4/04/16, collateralized by U.S. Government Agency Securities valued at $229,501,000.
z	Agreement with Goldman Sachs, 0.29% dated 3/31/16 to be repurchased at $500,000,000 on 4/07/16, collateralized by U.S. Government Agency Securities valued at $510,000,000.
aa	Agreement with HSBC, 0.27% dated 3/31/16 to be repurchased at $20,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $20,404,000.
ab	Agreement with JP Morgan Chase, 0.40% dated 3/31/16 to be repurchased at $451,356,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $460,390,000.
ac	Agreement with Nomura, 0.32% dated 3/31/16 to be repurchased at $400,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $408,000,000.
ad	Agreement with Royal Bank of Scotland, 0.30% dated 3/31/16 to be repurchased at $100,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $102,005,000.
ae	Agreement with Royal Bank of Scotland, 0.31% dated 3/29/16 to be repurchased at $300,000,000 on 4/05/16, collateralized by U.S. Government Agency Securities valued at $306,003,000.
	Cost amounts are in thousands.

187

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)

March 31, 2016

	Value		% of total
Country	(000)		portfolio
DOMESTIC
UNITED STATES	$	80,614,612		70.1	%
TOTAL DOMESTIC		80,614,612		70.1
FOREIGN
ARGENTINA		7,904		0.0
AUSTRALIA		1,416,592		1.2
AUSTRIA		137,163		0.1
BELGIUM		289,955		0.3
BERMUDA		131,674		0.1
BRAZIL		458,782		0.4
CANADA		2,263,403		2.0
CAYMAN ISLANDS		1,821		0.0
CHILE		91,763		0.1
CHINA		1,798,904		1.6
COLOMBIA		37,106		0.0
CYPRUS		64		0.0
CZECH REPUBLIC		14,232		0.0
DENMARK		459,071		0.4
EGYPT		18,924		0.0
FAROE ISLANDS		6,576		0.0
FINLAND		280,693		0.2
FRANCE		2,440,915		2.1
GEORGIA		2,730		0.0
GERMANY		2,053,445		1.8
GREECE		25,345		0.0
GUERNSEY, C.I.		409		0.0
HONG KONG		893,518		0.8
HUNGARY		24,994		0.0
INDIA		711,380		0.6
INDONESIA		210,364		0.2
IRELAND		491,041		0.4
ISLE OF MAN		8,281		0.0
ISRAEL		266,461		0.2
ITALY		609,322		0.5
JAPAN		5,588,217		4.8
JERSEY, C.I.		14,921		0.0
JORDAN		12,947		0.0
KOREA, REPUBLIC OF		1,217,804		1.1
LUXEMBOURG		91,867		0.1
MACAU		8,627		0.0
MALAYSIA		244,693		0.2
MALTA		9,041		0.0
MEXICO		347,837		0.3
MONACO		5,621		0.0
NETHERLANDS		1,066,538		0.9
NEW ZEALAND		111,699		0.1

188

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited) (concluded)

March 31, 2016

	Value		% of total
Country	(000)		portfolio
NORWAY	$	216,116		0.2	%
PAKISTAN		2,997		0.0
PANAMA		11,515		0.0
PERU		51,414		0.0
PHILIPPINES		132,601		0.1
POLAND		93,148		0.1
PORTUGAL		57,768		0.0
PUERTO RICO		20,095		0.0
QATAR		48,112		0.0
ROMANIA		4,019		0.0
RUSSIA		236,939		0.2
SINGAPORE		580,633		0.5
SOUTH AFRICA		492,444		0.4
SPAIN		501,615		0.4
SWEDEN		603,234		0.5
SWITZERLAND		1,857,588		1.6
TAIWAN		1,061,067		0.9
THAILAND		174,750		0.2
TURKEY		127,502		0.1
UNITED ARAB EMIRATES		67,911		0.1
UNITED KINGDOM		4,797,703		4.1
VIETNAM		1,710		0.0
VIRGIN ISLANDS, U.S.		47		0.0
TOTAL FOREIGN		35,013,572		29.9
TOTAL PORTFOLIO	$	115,628,184		100.0	%

189

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2016

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 98.9%
AUSTRALIA - 1.9%
	200,307		AGL Energy Ltd	$	2,820
	1,019,297	e	Alumina Ltd		1,014
	524,899		Amcor Ltd		5,764
	1,115,621		AMP Ltd		4,945
	188,439		APA Group		1,271
	92,018		Aristocrat Leisure Ltd		726
	321,889	*	Arrium Ltd		5
	225,529		Asciano Group		1,550
	299,108		AusNet Services		341
	1,618,840		Australia & New Zealand Banking Group Ltd		29,020
	63,658		Australian Stock Exchange Ltd		2,019
	63,819		Bank of Queensland Ltd		592
	77,753		Bendigo Bank Ltd		528
	2,502,336		BHP Billiton Ltd		32,335
	468,020		BHP Billiton plc		5,241
	126,480		BlueScope Steel Ltd		598
	127,090		Boral Ltd		601
	484,780		Brambles Ltd		4,491
	45,891		Caltex Australia Ltd		1,197
	97,611		Challenger Financial Services Group Ltd		626
	50,450		CIMIC Group Ltd		1,342
	201,966		Coca-Cola Amatil Ltd		1,368
	9,757		Cochlear Ltd		763
	706,131		Commonwealth Bank of Australia		40,482
	164,494		Computershare Ltd		1,231
	61,913		Crown Resorts Ltd		591
	160,756		CSL Ltd		12,493
	164,457		Dexus Property Group		999
	394,537	m	DUET Group (ASE Exchange)		677
	71,877		DuluxGroup Ltd		345
	9,286	e	Flight Centre Travel Group Ltd		308
	272,021	e	Fortescue Metals Group Ltd		529
	305,138		GPT Group (ASE)		1,168
	92,526		Harvey Norman Holdings Ltd		333
	296,918		Healthscope Ltd		604
	71,430		Iluka Resources Ltd		358
	389,201		Incitec Pivot Ltd		950
	759,763		Insurance Australia Group Ltd		3,245
	213,106		Lend Lease Corp Ltd		2,262
	301,104		Macquarie Goodman Group		1,540
	94,811		Macquarie Group Ltd		4,799
	465,786		Medibank Pvt Ltd		1,045
	1,308,969		Mirvac Group		1,940
	1,065,118		National Australia Bank Ltd		21,386

190

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	434,670	*	Newcrest Mining Ltd	$	5,625
	233,616		Oil Search Ltd		1,217
	129,882		Orica Ltd		1,528
	652,777		Origin Energy Ltd		2,542
	328,034		Orora Ltd		628
	72,671		Oxiana Ltd		278
	38,977		Platinum Asset Mangement Ltd		190
	2,715,446		Qantas Airways Ltd		8,476
	532,598		QBE Insurance Group Ltd		4,451
	357,179		QR National Ltd		1,085
	23,883		Ramsay Health Care Ltd		1,121
	8,961		REA Group Ltd		371
	43,305		Recall Holdings Ltd		249
	555,981		Santos Ltd		1,723
	1,671,352		Scentre Group		5,689
	55,758	e	Seek Ltd		692
	42,421		Shopping Centres Australasia Property Group		74
	67,489		Sonic Healthcare Ltd		968
	1,542,987	*	South32 Ltd		1,731
	3,282,251		Star Entertainment Grp Ltd		14,275
	916,372		Stockland Trust Group		2,998
	502,834		Suncorp-Metway Ltd		4,588
	257,112		Sydney Airport		1,317
	139,614		Tabcorp Holdings Ltd		458
	248,293		Tattersall’s Ltd		719
	1,721,666		Telstra Corp Ltd		7,026
	50,991		TPG Telecom Ltd		443
	553,202		Transurban Group (ASE)		4,805
	125,959	*	Treasury Wine Estates Ltd		930
	571,599		Vicinity Centres		1,397
	76,605	e	Vocus Communications Ltd		489
	416,237		Wesfarmers Ltd		13,212
	732,585		Westfield Corp		5,609
	1,399,553		Westpac Banking Corp		32,508
	253,615		Woodside Petroleum Ltd		5,073
	415,331		Woolworths Ltd		7,029
	14,169	e	WorleyParsons Ltd		59
			TOTAL AUSTRALIA		338,015
AUSTRIA - 0.0%
	8,941	e	Andritz AG.		490
	31,753	*	Erste Bank der Oesterreichischen Sparkassen AG.		891
	65,989	*,e,m	Immoeast AG.		0
	16,837		OMV AG.		473
	13,610	*,e	Raiffeisen International Bank Holding AG.		206
	132,748		Voestalpine AG.		4,427
	123,165		Wienerberger AG.		2,365
			TOTAL AUSTRIA		8,852
BELGIUM - 0.2%
	22,336		Ageas		884
	268,036		Anheuser-Busch InBev NV		33,300

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	31,925	*,m	Anheuser-Busch InBev NV (Strip VVPR)	$	0
	17,185		Belgacom S.A.		586
	8,060		Colruyt S.A.		469
	11,692		Delhaize Group		1,219
	9,045		Groupe Bruxelles Lambert S.A.		745
	28,179		KBC Groep NV		1,451
	8,380		Solvay S.A.		838
	6,117		Telenet Group Holding NV		309
	14,419		UCB S.A.		1,101
	10,909		Umicore		541
			TOTAL BELGIUM		41,443
BERMUDA - 0.1%
	47,325	*	Arch Capital Group Ltd		3,365
	823,016		Marvell Technology Group Ltd		8,485
	16,101		RenaissanceRe Holdings Ltd		1,930
			TOTAL BERMUDA		13,780
BRAZIL - 0.0%
	808,060		Banco Itau Holding Financeira S.A.		7,014
			TOTAL BRAZIL		7,014
CANADA - 3.2%
	138,589		Agnico-Eagle Mines Ltd		5,014
	34,328	e	Agrium, Inc		3,031
	799,398		Alimentation Couche Tard, Inc		35,577
	56,846	e	AltaGas Income Trust		1,462
	54,719	e	ARC Resources Ltd		796
	12,685		Atco Ltd		384
	240,290	*	Bank of Montreal		14,592
	439,445		Bank of Nova Scotia		21,476
	330,619		Barrick Gold Corp (Canada)		4,491
	169,724	e	BCE, Inc		7,735
	293,887	*	Blackberry Ltd (New)		2,385
	302,614	*	Bombardier, Inc		308
	275,743		Brookfield Asset Management, Inc		9,590
	146,861		CAE, Inc		1,698
	63,182	e	Cameco Corp (Toronto)		811
	151,890		Canadian Imperial Bank of Commerce/Canada		11,347
	259,604	e	Canadian National Railway Co		16,223
	340,952		Canadian Natural Resources Ltd (Canada)		9,222
	111,533		Canadian Pacific Railway Ltd (Toronto)		14,818
	82,730		Canadian Tire Corp Ltd		8,612
	19,814		Canadian Utilities Ltd		555
	190,617	e	Cara Operations Ltd		4,278
	4,427		CCL Industries		840
	390,000	*	Celestica, Inc		4,282
	747,804		Cenovus Energy, Inc (Toronto)		9,731
	99,895	*	CGI Group, Inc		4,774
	122,883	e	CI Financial Corp		2,715
	4,054		Constellation Software, Inc		1,660
	101,256	e	Crescent Point Energy Corp		1,402

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	414,982		Dollarama, Inc	$	29,201
	460,763		Eldorado Gold Corp		1,447
	61,464		Element Financial Corp		663
	32,297		Empire Co Ltd		560
	344,880	e	Enbridge, Inc		13,426
	481,582		EnCana Corp		2,937
	5,741		Fairfax Financial Holdings Ltd		3,214
	26,808		Finning International, Inc		394
	17,553		First Capital Realty, Inc		279
	110,348	e	First Quantum Minerals Ltd		581
	130,104	e	Fortis, Inc		4,078
	77,831		Franco-Nevada Corp		4,780
	58,163		George Weston Ltd		5,207
	263,637		Gildan Activewear, Inc		8,039
	318,203		Goldcorp, Inc		5,162
	65,922		Great-West Lifeco, Inc		1,814
	99,561		H&R Real Estate Investment Trust		1,609
	55,848		Husky Energy, Inc		695
	60,929	e	IGM Financial, Inc		1,835
	343,800	*	Imax Corp		10,689
	132,929		Imperial Oil Ltd		4,441
	53,661		Industrial Alliance Insurance and Financial Services, Inc		1,620
	30,703		Intact Financial Corp		2,150
	169,280	e	Inter Pipeline Ltd		3,487
	12,826		Jean Coutu Group PJC, Inc		217
	92,751	e	Keyera Corp		2,815
	770,944	*	Kinross Gold Corp		2,630
	137,838		Linamar Corp		6,632
	60,435		Loblaw Cos Ltd		3,384
	160,000		Magna International, Inc (Class A)		6,874
	165,246		Magna International, Inc (Class A) (Toronto)		7,103
	612,562		Manulife Financial Corp		8,669
	48,209		Methanex Corp		1,549
	353,842		Metro, Inc		12,277
	151,864		National Bank of Canada		4,968
	16,824		Onex Corp		1,025
	142,233		Open Text Corp		7,368
	167,216	e	Pembina Pipeline Income Fund		4,520
	98,151	e	Peyto Exploration & Development Corp		2,183
	343,160		Potash Corp of Saskatchewan		5,842
	175,355		Power Corp Of Canada		4,045
	124,286	e	Power Financial Corp		3,107
	28,539	e	PrairieSky Royalty Ltd		541
	70,255	e	Progressive Waste Solutions Ltd		2,184
	1,599		Restaurant Brands International LP		62
	106,400		Restaurant Brands International, Inc		4,132
	96,792		Restaurant Brands International, Inc (Toronto)		3,759
	24,760		RioCan Real Estate Investment Trust		507
	100,175		Rogers Communications, Inc (Class B)		4,011
	643,959		Royal Bank of Canada		37,103
	114,177		Saputo, Inc		3,661
	26,340	*	Seven Generations Energy Ltd		396

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	87,251	e	Shaw Communications, Inc (B Shares)	$	1,686
	200,016	e	Silver Wheaton Corp		3,319
	10,338		Smart Real Estate Investment Trust		270
	23,973		SNC-Lavalin Group, Inc		876
	247,683	*,g	Spin Master Corp		4,375
	180,041		Sun Life Financial, Inc		5,808
	1,115,979		Suncor Energy, Inc		31,080
	100,161	e	Teck Cominco Ltd		760
	101,098		TELUS Corp		3,291
	1,366,793	e	Toronto-Dominion Bank		58,997
	287,110	*	Tourmaline Oil Corp		6,079
	219,171	e	TransCanada Corp		8,617
	162,941	e	TransForce, Inc		2,802
	463,733	*	Turquoise Hill Resources Ltd		1,185
	199,728	e	Veresen, Inc		1,349
	17,537	e	Vermilion Energy, Inc		513
	10,710		West Fraser Timber Co Ltd		430
	180,000		WestJet Airlines Ltd		2,854
	151,718	e	Yamana Gold, Inc		460
			TOTAL CANADA		584,432
CHILE - 0.0%
	44,909	e	Antofagasta plc		302
	130,000		Sociedad Quimica y Minera de Chile S.A. (ADR)		2,671
			TOTAL CHILE		2,973
CHINA - 0.1%
	65,960	*	Alibaba Group Holding Ltd (ADR)		5,213
	9,579,000	*,e,m	China Animal Healthcare Ltd		12
	1,122,000		China Aoyuan Property Group Ltd		229
	7,346,800		China Everbright International Ltd		8,205
	1,300,255	*	China New Town Development Co Ltd		48
	399,188		China Overseas Land & Investment Ltd		1,264
	203,000		CNOOC Ltd		237
	84,259	*	JD.com, Inc (ADR)		2,233
	2,397,612		Sino-Ocean Land Holdings Ltd		1,136
	144,500		Tencent Holdings Ltd		2,954
	310,149		Yangzijiang Shipbuilding		225
			TOTAL CHINA		21,756
DENMARK - 0.9%
	437		AP Moller - Maersk AS (Class A)		558
	784		AP Moller - Maersk AS (Class B)		1,028
	12,205		Carlsberg AS (Class B)		1,161
	11,358		Christian Hansen Holding		762
	12,413		Coloplast AS		939
	531,753		Danske Bank AS		15,006
	21,904		DSV AS		911
	6,127	*	Genmab AS		848
	956,439	*	H Lundbeck AS		31,544
	17,113		ISS A.S.		686
	1,574,366		Novo Nordisk AS		85,258

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	26,304		Novozymes AS	$	1,181
	92,465		Pandora AS		12,089
	180,000		Sydbank AS		5,154
	93,770		TDC AS		458
	300,000	*	Topdanmark AS		7,622
	13,213		Tryg A.S.		256
	25,219		Vestas Wind Systems AS		1,777
	2,902	*	William Demant Holding		291
			TOTAL DENMARK		167,529
FINLAND - 0.5%
	15,898	e	Elisa Oyj (Series A)		617
	50,506	e	Fortum Oyj		764
	352,600		Huhtamaki Oyj		13,073
	50,000	e	Kesko Oyj (B Shares)		2,206
	37,947	e	Kone Oyj (Class B)		1,826
	13,127	e	Metso Oyj		313
	264,496	e	Neste Oil Oyj		8,692
	4,158,099		Nokia Oyj (Turquoise)		24,667
	12,920	e	Nokian Renkaat Oyj		456
	11,633	e	Orion Oyj (Class B)		384
	584,285	e	Sampo Oyj (A Shares)		27,674
	62,740		Stora Enso Oyj (R Shares)		561
	60,826	e	UPM-Kymmene Oyj		1,100
	16,617		Wartsila Oyj (B Shares)		751
			TOTAL FINLAND		83,084
FRANCE - 3.1%
	441,459		Accor S.A.		18,674
	3,398		Aeroports de Paris		420
	38,808		Air Liquide		4,354
	17,219	*,e	Alstom RGPT		439
	91,731		Arkema		6,872
	9,629		Atos Origin S.A.		782
	223,000		AXA S.A.		5,229
	428,575		BNP Paribas		21,532
	99,495		Bollore		386
	97,709		Bouygues S.A.		3,972
	29,640		Bureau Veritas S.A.		659
	18,387		Cap Gemini S.A.		1,725
	62,619		Carrefour S.A.		1,720
	6,383	e	Casino Guichard Perrachon S.A.		365
	1		CGG (ADR)		0	^
	6,081		Christian Dior S.A.		1,101
	19,425		CNP Assurances		302
	732,637		Compagnie de Saint-Gobain		32,180
	119,409		Credit Agricole S.A.		1,291
	255,998		Dassault Systemes S.A.		20,283
	24,301		Edenred		471
	27,388	e	Electricite de France		307
	23,257		Essilor International S.A.		2,866
	4,593	*	Eurazeo		310

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	301,748		European Aeronautic Defence and Space Co	$	19,993
	19,444		Eutelsat Communications		627
	506,229		Faurecia		19,165
	3,462		Fonciere Des Regions		326
	1,284,914		France Telecom S.A.		22,438
	388,811		Gaz de France		6,024
	3,944	e	Gecina S.A.		541
	357,723		Groupe Danone		25,381
	52,315		Groupe Eurotunnel S.A.		586
	2,975		Hermes International		1,046
	3,819		Icade		292
	3,046		Iliad S.A.		783
	4,101		Imerys S.A.		286
	6,209		Ingenico		712
	733,721		JC Decaux S.A.		32,113
	25,177	e	Klepierre		1,203
	13,508		Lagardere S.C.A.		358
	30,173		Legrand S.A.		1,686
	114,009		L’Oreal S.A.		20,395
	31,635	e	LVMH Moet Hennessy Louis Vuitton S.A.		5,406
	21,138		Michelin (C.G.D.E.) (Class B)		2,160
	106,271		Natixis		522
	12,778		Numericable SAS		537
	23,956		Pernod-Ricard S.A.		2,668
	50,829	*	Peugeot S.A.		870
	8,602		PPR		1,536
	21,283		Publicis Groupe S.A.		1,492
	2,703	e	Remy Cointreau S.A.		205
	118,655		Renault S.A.		11,792
	741,544		Rexel S.A.		10,571
	35,357		Safran S.A.		2,468
	456,291		Sanofi-Aventis		36,684
	170,538		Schneider Electric S.A.		10,747
	17,399		SCOR SE		613
	3,277		Societe BIC S.A.		492
	81,903		Societe Generale		3,026
	10,738		Sodexho Alliance S.A.		1,156
	293,752		Suez Environnement S.A.		5,378
	12,078		Technip S.A.		669
	314,852		Teleperformance		27,654
	46,891		Thales S.A.		4,098
	1,826,768		Total S.A.		83,120
	28,156		Unibail-Rodamco		7,722
	243,179		Valeo S.A.		37,814
	51,053		Veolia Environnement		1,229
	220,543		Vinci S.A.		16,370
	131,018		Vivendi Universal S.A.		2,746
	3,264		Wendel		355
	23,122		Zodiac S.A.		462
			TOTAL FRANCE		560,757

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
GERMANY - 2.6%
	67,724		Adidas-Salomon AG.	$	7,907
	122,539		Allianz AG.		19,901
	4,989	e	Axel Springer AG.		269
	103,923		BASF SE		7,814
	665,695		Bayer AG.		78,006
	121,655		Bayerische Motoren Werke AG.		11,169
	5,283		Bayerische Motoren Werke AG. (Preference)		422
	473,594		Beiersdorf AG.		42,658
	150,000		Borussia Dortmund GmbH & Co KGaA		686
	17,280		Brenntag AG.		985
	121,245	*	Commerzbank AG.		1,052
	140,335		Continental AG.		31,829
	751,514		Daimler AG. (Registered)		57,515
	52,583	*	Deutsche Annington Immobilien SE		1,888
	156,108		Deutsche Bank AG.		2,650
	245,510		Deutsche Boerse AG.		20,904
	26,842	*	Deutsche Lufthansa AG.		433
	109,637		Deutsche Post AG.		3,043
	1,735,851		Deutsche Telekom AG.		31,121
	37,914		Deutsche Wohnen AG.		1,177
	65,000		Duerr AG.		5,098
	226,480		E.ON AG.		2,166
	15,461		Evonik Industries AG.		462
	4,655		Fraport AG. Frankfurt Airport Services Worldwide		282
	180,000		Freenet AG.		5,376
	114,849		Fresenius Medical Care AG.		10,133
	43,201		Fresenius SE		3,149
	7,690		Fuchs Petrolub AG. (Preference)		343
	20,567		GEA Group AG.		1,003
	76,741		Hannover Rueckversicherung AG.		8,919
	16,033		HeidelbergCement AG.		1,370
	11,676		Henkel KGaA		1,145
	20,248		Henkel KGaA (Preference)		2,227
	7,566		Hugo Boss AG.		495
	127,518		Infineon Technologies AG.		1,808
	22,128	e	K&S AG.		516
	2,485		Kabel Deutschland Holding AG.		278
	10,338		Lanxess AG.		495
	21,036		Linde AG.		3,056
	4,019		MAN AG.		435
	14,691		Merck KGaA		1,222
	20,309	e	Metro AG.		628
	48,891		Muenchener Rueckver AG.		9,922
	10,057		Osram Licht AG.		517
	17,465		Porsche AG.		903
	550,694		ProSiebenSat. Media AG.		28,270
	56,051		RWE AG.		721
	142,265		SAP AG.		11,448
	295,648	*,g	Scout24 AG.		10,232
	296,091		Siemens AG.		31,315
	150,000		Software AG.		5,859
	13,785		Symrise AG.		923

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	80,775		Telefonica Deutschland Holding AG.	$	437
	41,470		ThyssenKrupp AG.		859
	56,175		TUI AG. (DI)		869
	13,998		United Internet AG.		701
	7,521		Volkswagen AG.		1,093
	17,017		Volkswagen AG. (Preference)		2,160
	9,953	*,g	Zalando SE		326
			TOTAL GERMANY		478,590
HONG KONG - 1.0%
	6,307,958		AIA Group Ltd		35,855
	40,318		ASM Pacific Technology		317
	200,255	e	Bank of East Asia Ltd		748
	1,283,353		BOC Hong Kong Holdings Ltd		3,834
	198,431		Cathay Pacific Airways Ltd		344
	111,723		Cheung Kong Infrastructure Holdings Ltd		1,093
	1,005,043		Cheung Kong Property Holdings Ltd		6,477
	1,792,000		China Gas Holdings Ltd		2,645
	625,000		Chow Sang Sang Holding		942
	1,003,043		CK Hutchison Holdings Ltd		13,032
	652,954		CLP Holdings Ltd		5,910
	397,463		First Pacific Co		297
	397,803		Galaxy Entertainment Group Ltd		1,493
	1,063,434	*	Global Brands Group Holding Ltd		129
	209,000	*	Glorious Property Holdings Ltd		24
	777,517		Hang Lung Group Ltd		2,232
	3,105,803		Hang Lung Properties Ltd		5,930
	421,972		Hang Seng Bank Ltd		7,466
	528,198		Henderson Land Development Co Ltd		3,248
	455,500	g	HK Electric Investments & HK Electric Investments Ltd		401
	451,660		HKT Trust and HKT Ltd		622
	2,762,066		Hong Kong & China Gas Ltd		5,163
	405,276		Hong Kong Electric Holdings Ltd		4,148
	267,624		Hong Kong Exchanges and Clearing Ltd		6,449
	100,500		Hongkong Land Holdings Ltd		602
	108,760		Hysan Development Co Ltd		463
	41,900		Jardine Matheson Holdings Ltd		2,390
	1,572,448		Kerry Properties Ltd		4,317
	2,067,027	e	Li & Fung Ltd		1,225
	381,468		Link REIT		2,266
	16,444	e	Melco Crown Entertainment Ltd (ADR)		271
	570,280		MTR Corp		2,826
	2,074,038		New World Development Co Ltd		1,979
	791,002	*,e	Noble Group Ltd		258
	258,384		NWS Holdings Ltd		412
	711,040		PCCW Ltd		461
	1,071,133		Sands China Ltd		4,373
	2,770,286	*	Shanghai Real Estate Ltd		84
	197,992		Shangri-La Asia Ltd		226
	2,242,000		Shimao Property Holdings Ltd		3,325
	518,542		Sino Land Co		824
	324,611		SJM Holdings Ltd		232

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,560,642		Sun Hung Kai Properties Ltd	$	19,097
	195,628		Swire Pacific Ltd (Class A)		2,110
	1,895,800		Swire Properties Ltd		5,132
	230,902		Techtronic Industries Co		915
	1,001,500	*,g	WH Group Ltd		724
	2,136,776		Wharf Holdings Ltd		11,704
	156,334		Wheelock & Co Ltd		699
	124,912		Yue Yuen Industrial Holdings		429
			TOTAL HONG KONG		176,143
INDIA - 0.3%
	200,000		Axis Bank Ltd		1,341
	133,600		Container Corp Of India Ltd		2,508
	322,531	*	DEN Networks Ltd		420
	2,460,238		DLF Ltd		4,262
	450,000		HDFC Bank Ltd		7,294
	350,000		Hindustan Petroleum Corp Ltd		4,162
	244,517		Housing Development Finance Corp		4,080
	450,000		ICICI Bank Ltd (ADR)		3,222
	280,000		ITC Ltd		1,387
	120,000	*	Just Dial Ltd		1,388
	99,896	*	LIC Housing Finance Ltd		744
	210,000		Lupin Ltd		4,690
	90,834	*	Prestige Estates Projects Ltd		237
	1,113,028	*	Puravankara Projects Ltd		796
	111,069		Reliance Industries Ltd		1,753
	154,738		Shriram Transport Finance Co Ltd		2,227
	322,832	*	Sobha Developers Ltd		1,335
	400,000	*	Sun Pharmaceutical Industries Ltd		4,951
	813,513	*	Sunteck Realty Ltd		2,791
	26,406,156	*	Unitech Ltd		1,974
	354,303		Yes Bank Ltd		4,629
			TOTAL INDIA		56,191
IRELAND - 1.1%
	11,076,850	*	Bank of Ireland		3,204
	1,664,593		CRH plc		47,013
	109,299		Experian Group Ltd		1,951
	2,902,262		Green REIT plc		4,652
	4,220,177		Hibernia REIT plc		6,252
	147,992	*,m	Irish Bank Resolution Corp Ltd		0
	75,840		James Hardie Industries NV		1,038
	322,340		Kerry Group plc (Class A)		29,977
	9,164		Paddy Power plc		1,278
	6,144	*	Ryanair Holdings plc		99
	436,430		Ryanair Holdings plc (ADR)		37,455
	393,532		Shire Ltd		22,445
	977,088		Smurfit Kappa Group plc		25,134
	535,950		XL Capital Ltd		19,723
			TOTAL IRELAND		200,221

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
ISRAEL - 0.2%
	4,407		Azrieli Group	$	173
	118,385		Bank Hapoalim Ltd		615
	155,050		Bank Leumi Le-Israel		557
	224,071		Bezeq Israeli Telecommunication Corp Ltd		506
	7,598	*,e	Check Point Software Technologies		665
	542		Delek Group Ltd		93
	58,046		Israel Chemicals Ltd		252
	16,313		Mizrahi Tefahot Bank Ltd		191
	6,639		Nice Systems Ltd		431
	103,377		Teva Pharmaceutical Industries Ltd		5,560
	546,697		Teva Pharmaceutical Industries Ltd (ADR)		29,254
			TOTAL ISRAEL		38,297
ITALY - 1.0%
	4,000,000		A2A S.p.A.		5,194
	131,263		Assicurazioni Generali S.p.A.		1,943
	46,575		Autostrade S.p.A.		1,290
	12,249,599		Banca Intesa S.p.A.		33,870
	110,370		Banca Intesa S.p.A. RSP		286
	600,044		Banca Mediolanum S.p.A		4,786
	103,393	e	Banche Popolari Unite Scpa		382
	41,493	*	Banco Popolare SC		285
	198,795		Enel Green Power S.p.A		427
	4,554,648		Enel S.p.A.		20,192
	848,093		ENI S.p.A.		12,808
	123,169		Exor S.p.A.		4,407
	216,850	*,e	Ferrari NV		9,007
	46,324	*	Finmeccanica S.p.A.		587
	129,768		Fondiaria-Sai S.p.A		300
	297,543		Luxottica Group S.p.A.		16,391
	2,184,673		Mediaset S.p.A.		9,006
	5,145,221		Mediobanca S.p.A.		37,002
	617,000		Moncler S.p.A		10,409
	765,600	*,g	OVS S.p.A		4,486
	22,306		Prysmian S.p.A.		505
	713,620	*	Saipem S.p.A.		285
	236,993		Snam Rete Gas S.p.A.		1,483
	658,729		Telecom Italia RSP		576
	1,295,162	*,e	Telecom Italia S.p.A.		1,396
	169,701		Terna Rete Elettrica Nazionale S.p.A.		968
	540,407		UniCredit S.p.A		1,948
	304,209	*,e	Yoox S.p.A		9,322
			TOTAL ITALY		189,541
JAPAN - 8.1%
	4,600		ABC-Mart, Inc		294
	71,300	*,e	Acom Co Ltd		359
	600		Activia Properties Inc		3,110
	990		Advance Residence Investment Corp		2,505
	113,409		Aeon Co Ltd		1,638
	18,403		AEON Financial Service Co Ltd		433
	20,260		Aeon Mall Co Ltd		300

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	27,000		Air Water, Inc	$	400
	215,642		Aisin Seiki Co Ltd		8,117
	287,929		Ajinomoto Co, Inc		6,492
	30,600		Alfresa Holdings Corp		587
	202,435	e	All Nippon Airways Co Ltd		570
	63,400		Alps Electric Co Ltd		1,106
	59,944		Amada Co Ltd		584
	195,848		Aozora Bank Ltd		684
	227,307		Asahi Breweries Ltd		7,075
	162,773		Asahi Glass Co Ltd		891
	479,134		Asahi Kasei Corp		3,236
	27,700		Asics Corp		494
	735,600		Astellas Pharma, Inc		9,776
	139,105		Bank of Kyoto Ltd		907
	467,971	m	Bank of Yokohama Ltd		2,141
	11,753	e	Benesse Holdings Inc		338
	610,304		Bridgestone Corp		22,778
	41,285		Brother Industries Ltd		474
	52,600		Calbee, Inc		2,087
	185,597		Canon, Inc		5,535
	35,533	e	Casio Computer Co Ltd		717
	59,300		Central Japan Railway Co		10,487
	306,323		Chiba Bank Ltd		1,526
	252,166		Chubu Electric Power Co, Inc		3,519
	93,958		Chugai Pharmaceutical Co Ltd		2,907
	65,000	e	Chugoku Bank Ltd		676
	111,853	e	Chugoku Electric Power Co, Inc		1,509
	46,642		Citizen Watch Co Ltd		264
	265,600	e	COOKPAD, Inc		4,240
	25,855		Credit Saison Co Ltd		450
	470,000	*,e	CYBERDYNE, Inc		8,976
	93,076		Dai Nippon Printing Co Ltd		826
	50,930		Daicel Chemical Industries Ltd		694
	33,390	e	Daihatsu Motor Co Ltd		470
	187,700		Dai-ichi Mutual Life Insurance Co		2,275
	110,297		Daiichi Sankyo Co Ltd		2,448
	96,346		Daikin Industries Ltd		7,196
	38,911		Daito Trust Construction Co Ltd		5,519
	240,956		Daiwa House Industry Co Ltd		6,773
	601,300		Daiwa Securities Group, Inc		3,696
	155,000	e	Dena Co Ltd		2,668
	281,945		Denso Corp		11,317
	37,655		Dentsu, Inc		1,889
	70,600		Don Quijote Co Ltd		2,452
	243,852		East Japan Railway Co		21,035
	44,017		Eisai Co Ltd		2,646
	157,293		Electric Power Development Co		4,907
	20,000	*,e	Euglena Co Ltd		290
	10,144		FamilyMart Co Ltd		527
	50,743		Fanuc Ltd		7,859
	22,418		Fast Retailing Co Ltd		7,163
	1,246,822		Fuji Electric Holdings Co Ltd		4,311

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	757,942		Fuji Heavy Industries Ltd	$	26,765
	513,484		Fujifilm Holdings Corp		20,297
	362,991		Fujitsu Ltd		1,342
	314,663		Fukuoka Financial Group, Inc		1,025
	4,250		GLP J-Reit		4,841
	159,400	e	GMO Payment Gateway, Inc		10,770
	75,800	e	GungHo Online Entertainment Inc		213
	154,879		Gunma Bank Ltd		640
	159,842		Hachijuni Bank Ltd		689
	39,800		Hakuhodo DY Holdings, Inc		451
	24,600		Hamamatsu Photonics KK		678
	199,000		Hankyu Hanshin Holdings, Inc		1,269
	700,000		Haseko Corp		6,517
	3,200		Hikari Tsushin, Inc		244
	104,482		Hino Motors Ltd		1,129
	5,200		Hirose Electric Co Ltd		573
	207,000		Hiroshima Bank Ltd		755
	10,067		Hisamitsu Pharmaceutical Co, Inc		450
	17,952		Hitachi Chemical Co Ltd		323
	18,822	e	Hitachi Construction Machinery Co Ltd		299
	139,200		Hitachi High-Technologies Corp		3,919
	4,709,285		Hitachi Ltd		22,072
	36,900		Hitachi Metals Ltd		381
	479,000		Hokuhoku Financial Group, Inc		629
	68,931		Hokuriku Electric Power Co		974
	571,596		Honda Motor Co Ltd		15,628
	7,000		Hoshizaki Electric Co Ltd		584
	574,553		Hoya Corp		21,839
	1,552		Ichigo Real Estate Investment Corp		1,198
	15,500	e	Idemitsu Kosan Co Ltd		277
	25,300		Iida Group Holdings Co Ltd		493
	350		Industrial & Infrastructure Fund Investment Corp		1,625
	287,400		Infomart Corp		2,581
	165,700		Inpex Holdings, Inc		1,255
	172,981		Isetan Mitsukoshi Holdings Ltd		2,020
	2,947,878		Ishikawajima-Harima Heavy Industries Co Ltd		6,240
	446,000	*,e	Istyle, Inc		3,963
	103,700		Isuzu Motors Ltd		1,070
	943,170		Itochu Corp		11,590
	28,000		Itochu Techno-Science Corp		528
	96,952		Iyo Bank Ltd		634
	296,500		J Front Retailing Co Ltd		3,934
	327,000		Japan Airlines Co Ltd		11,988
	7,500	e	Japan Airport Terminal Co Ltd		266
	70,400	*	Japan Post Bank Co Ltd		867
	78,400	*	Japan Post Holdings Co Ltd		1,049
	146		Japan Prime Realty Investment Corp		595
	229		Japan Real Estate Investment Corp		1,322
	4,643		Japan Rental Housing Investments, Inc		3,426
	935		Japan Retail Fund Investment Corp		2,245
	639,900		Japan Tobacco, Inc		26,634
	86,004		JFE Holdings, Inc		1,155

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	87,978	e	JGC Corp	$	1,316
	257,624		Joyo Bank Ltd		883
	31,553		JSR Corp		454
	435,603		JTEKT Corp		5,653
	838,780		JX Holdings, Inc		3,230
	347,372		Kajima Corp		2,176
	25,000	e	Kakaku.com, Inc		464
	84,252		Kamigumi Co Ltd		793
	47,900		Kaneka Corp		410
	282,674	*	Kansai Electric Power Co, Inc		2,501
	40,380		Kansai Paint Co Ltd		648
	271,453		Kao Corp		14,474
	647,212	e	Kawasaki Heavy Industries Ltd		1,867
	647,200		KDDI Corp		17,268
	89,000		Keihan Electric Railway Co Ltd		627
	305,622		Keihin Electric Express Railway Co Ltd		2,688
	239,910		Keio Corp		2,105
	48,426		Keisei Electric Railway Co Ltd		681
	1,838		Kenedix Realty Investment Corp		10,536
	15,651		Keyence Corp		8,536
	24,795	e	Kikkoman Corp		814
	400,914		Kintetsu Corp		1,625
	143,349		Kirin Brewery Co Ltd		2,008
	530,084		Kobe Steel Ltd		466
	17,900		Koito Manufacturing Co Ltd		811
	160,722		Komatsu Ltd		2,732
	16,273	e	Konami Corp		481
	79,113		Konica Minolta Holdings, Inc		671
	5,300		Kose Corp		515
	1,193,558		Kubota Corp		16,292
	61,474		Kuraray Co Ltd		751
	18,645		Kurita Water Industries Ltd		425
	55,800		Kyocera Corp		2,457
	330,345		Kyowa Hakko Kogyo Co Ltd		5,271
	164,484	*,e	Kyushu Electric Power Co, Inc		1,563
	60,900	*	Kyushu Financial Group, Inc		350
	2,177	*	LaSalle Logiport REIT		2,103
	11,251		Lawson, Inc		942
	45,923		LIXIL Group Corp		937
	127,400		M3, Inc		3,204
	20,600		Mabuchi Motor Co Ltd		958
	250,000	e	Maeda Corp		1,861
	43,036		Makita Corp		2,668
	1,018,172	e	Marubeni Corp		5,151
	38,509	e	Marui Co Ltd		552
	7,996		Maruichi Steel Tube Ltd		219
	1,222,100		Matsui Securities Co Ltd		10,401
	763,455		Matsushita Electric Industrial Co Ltd		6,914
	309,400		Mazda Motor Corp		4,802
	11,500		McDonald’s Holdings Co Japan Ltd		272
	23,612		Mediceo Paltac Holdings Co Ltd		374
	21,300		MEIJI Holdings Co Ltd		1,712

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	111,000		Minebea Co Ltd	$	865
	22,200		Miraca Holdings, Inc		911
	270,000		MISUMI Group, Inc		3,860
	336,619		Mitsubishi Chemical Holdings Corp		1,758
	444,995		Mitsubishi Corp		7,530
	873,814		Mitsubishi Electric Corp		9,156
	391,705		Mitsubishi Estate Co Ltd		7,270
	144,160		Mitsubishi Gas Chemical Co, Inc		774
	1,345,150		Mitsubishi Heavy Industries Ltd		4,997
	20,262	e	Mitsubishi Logistics Corp		266
	194,293		Mitsubishi Materials Corp		548
	291,300		Mitsubishi Motors Corp		2,175
	5,724,454		Mitsubishi UFJ Financial Group, Inc		26,525
	85,800		Mitsubishi UFJ Lease & Finance Co Ltd		376
	632,404		Mitsui & Co Ltd		7,272
	143,087		Mitsui Chemicals, Inc		476
	635,437		Mitsui Fudosan Co Ltd		15,827
	201,499		Mitsui OSK Lines Ltd		410
	408,509		Mitsui Sumitomo Insurance Group Holdings, Inc		11,386
	1,156,758		Mitsui Trust Holdings, Inc		3,386
	7,900		Mixi Inc		293
	7,445,856		Mizuho Financial Group, Inc		11,096
	516,800	e	MonotaRO Co Ltd		15,362
	376,720		Murata Manufacturing Co Ltd		45,458
	21,100		Nabtesco Corp		473
	152,000	e	Nagoya Railroad Co Ltd		710
	30,806		Namco Bandai Holdings, Inc		672
	972,615		NEC Corp		2,445
	22,500		Nexon Co Ltd		384
	267,179		NGK Insulators Ltd		4,930
	30,988		NGK Spark Plug Co Ltd		593
	26,738		NHK Spring Co Ltd		256
	76,770		Nidec Corp		5,253
	59,481	e	Nikon Corp		910
	42,598		Nintendo Co Ltd		6,055
	563		Nippon Building Fund, Inc		3,333
	70,184		Nippon Electric Glass Co Ltd		359
	145,441		Nippon Express Co Ltd		661
	30,944		Nippon Meat Packers, Inc		681
	25,600	e	Nippon Paint Co Ltd		566
	2,167		Nippon ProLogis REIT, Inc		4,845
	202,000		Nippon Steel Corp		3,873
	644,000		Nippon Telegraph & Telephone Corp		27,819
	651,308		Nippon Yusen Kabushiki Kaisha		1,256
	1,047,043		Nissan Motor Co Ltd		9,680
	37,200		Nisshin Seifun Group, Inc		591
	11,135		Nissin Food Products Co Ltd		523
	12,900		Nitori Co Ltd		1,180
	243,737		Nitto Denko Corp		13,582
	57,853		NKSJ Holdings, Inc		1,640
	16,951		NOK Corp		289
	4,130,663		Nomura Holdings, Inc		18,449

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	22,074		Nomura Real Estate Holdings, Inc	$	408
	613	*	Nomura Real Estate Master Fund, Inc		913
	81,800		Nomura Research Institute Ltd		2,755
	81,211		NSK Ltd		743
	122,400		NTT Data Corp		6,138
	571,800		NTT DoCoMo, Inc		12,998
	20,300		NTT Urban Development Corp		199
	112,459		Obayashi Corp		1,108
	11,300		Obic Co Ltd		597
	260,098		Odakyu Electric Railway Co Ltd		2,829
	137,797		OJI Paper Co Ltd		553
	444,700		Olympus Corp		17,265
	34,013		Omron Corp		1,012
	237,050		Ono Pharmaceutical Co Ltd		10,028
	6,603		Oracle Corp Japan		370
	156,400		Oriental Land Co Ltd		11,073
	1,503,900		ORIX Corp		21,420
	326,981		Osaka Gas Co Ltd		1,255
	96,000		Osaka Securities Exchange Co Ltd		1,469
	12,400		Otsuka Corp		654
	67,800		Otsuka Holdings KK		2,463
	22,400		Park24 Co Ltd		627
	2,380,000	*	Pioneer Corp		6,309
	50,000		Pola Orbis Holdings, Inc		4,142
	279,500		Rakuten, Inc		2,698
	24,600		Recruit Holdings Co Ltd		750
	381,430		Resona Holdings, Inc		1,360
	462,081	e	Ricoh Co Ltd		4,703
	6,299		Rinnai Corp		556
	65,724		Rohm Co Ltd		2,764
	4,100		Ryohin Keikaku Co Ltd		866
	8,380		Sankyo Co Ltd		312
	8,500	e	Sanrio Co Ltd		166
	169,900		Santen Pharmaceutical Co Ltd		2,554
	212,000		Sapporo Holdings Ltd		1,054
	109,800		Sawai Pharmaceutical Co Ltd		6,871
	37,680		SBI Holdings, Inc		382
	36,534		Secom Co Ltd		2,711
	32,843		Sega Sammy Holdings, Inc		358
	21,000		Seibu Holdings, Inc		444
	48,900		Seiko Epson Corp		786
	156,051		Sekisui Chemical Co Ltd		1,921
	343,820		Sekisui House Ltd		5,801
	419,981		Seven & I Holdings Co Ltd		17,894
	101,500	e	Seven Bank Ltd		433
	71,119		Shikoku Electric Power Co, Inc		953
	43,982		Shimadzu Corp		690
	8,397		Shimamura Co Ltd		1,048
	13,681		Shimano, Inc		2,146
	1,589,962		Shimizu Corp		13,466
	252,700		Shin-Etsu Chemical Co Ltd		13,051
	672,649	e	Shinsei Bank Ltd		878

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	122,133		Shionogi & Co Ltd	$	5,740
	62,885		Shiseido Co Ltd		1,401
	92,301		Shizuoka Bank Ltd		666
	52,200		Shoei Co Ltd		498
	34,173		Showa Shell Sekiyu KK		307
	9,288		SMC Corp		2,152
	412,500		SMS Co Ltd		7,861
	475,460		Softbank Corp		22,741
	10,700		Sohgo Security Services Co Ltd		579
	2,400,000		Sojitz Holdings Corp		4,927
	1,343,982		Sony Corp		34,555
	530,400		Sony Financial Holdings, Inc		6,782
	104,515		Stanley Electric Co Ltd		2,362
	520,883		Sumitomo Chemical Co Ltd		2,358
	337,963		Sumitomo Corp		3,354
	27,763	e	Sumitomo Dainippon Pharma Co Ltd		319
	130,376		Sumitomo Electric Industries Ltd		1,581
	1,226,625		Sumitomo Heavy Industries Ltd		5,063
	86,464		Sumitomo Metal Mining Co Ltd		855
	1,215,979		Sumitomo Mitsui Financial Group, Inc		36,914
	213,725		Sumitomo Realty & Development Co Ltd		6,247
	29,663		Sumitomo Rubber Industries, Inc		458
	23,900		Suntory Beverage & Food Ltd		1,075
	155,454		Suruga Bank Ltd		2,728
	13,400		Suzuken Co Ltd		455
	63,522		Suzuki Motor Corp		1,699
	320,100		Sysmex Corp		20,011
	619,731		T&D Holdings, Inc		5,789
	203,000		Taiheiyo Cement Corp		467
	405,143		Taisei Corp		2,675
	5,523		Taisho Pharmaceutical Holdings Co Ltd		438
	26,572		Taiyo Nippon Sanso Corp		253
	308,718		Takashimaya Co Ltd		2,581
	407,348		Takeda Pharmaceutical Co Ltd		18,571
	177,181		Tanabe Seiyaku Co Ltd		3,079
	42,927		TDK Corp		2,382
	163,613		Teijin Ltd		570
	52,900		Terumo Corp		1,893
	67,476		THK Co Ltd		1,242
	385,878		Tobu Railway Co Ltd		1,924
	19,675		Toho Co Ltd		517
	71,000		Toho Gas Co Ltd		504
	183,915		Tohoku Electric Power Co, Inc		2,370
	537,064		Tokio Marine Holdings, Inc		18,146
	252,560	*	Tokyo Electric Power Co, Inc		1,387
	29,910		Tokyo Electron Ltd		1,948
	924,924		Tokyo Gas Co Ltd		4,311
	25,000		Tokyo Ohka Kogyo Co Ltd		625
	36,000		Tokyo Tatemono Co Ltd		448
	631,852		Tokyu Corp		5,292
	89,300		Tokyu Fudosan Holdings Corp		606
	237,126		TonenGeneral Sekiyu KK		2,145

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	91,427		Toppan Printing Co Ltd	$	767
	599,664		Toray Industries, Inc		5,118
	700,481	*,e	Toshiba Corp		1,362
	900,000		Tosoh Corp		3,780
	24,700	e	Toto Ltd		769
	28,039		Toyo Seikan Kaisha Ltd		525
	15,299		Toyo Suisan Kaisha Ltd		549
	191,297		Toyoda Gosei Co Ltd		3,689
	28,361		Toyota Industries Corp		1,274
	1,494,548		Toyota Motor Corp		79,264
	37,094		Toyota Tsusho Corp		837
	18,128		Trend Micro, Inc		664
	79,100		Uni-Charm Corp		1,722
	477		United Urban Investment Corp		771
	37,930		USS Co Ltd		605
	48,100		West Japan Railway Co		2,970
	583,000	e	Yahoo! Japan Corp		2,481
	15,177		Yakult Honsha Co Ltd		671
	115,790		Yamada Denki Co Ltd		547
	84,406	e	Yamaguchi Financial Group, Inc		766
	28,988		Yamaha Corp		872
	45,783		Yamaha Motor Co Ltd		761
	121,655	e	Yamato Transport Co Ltd		2,425
	18,553		Yamazaki Baking Co Ltd		391
	41,184	e	Yaskawa Electric Corp		475
	39,410		Yokogawa Electric Corp		407
	17,200		Yokohama Rubber Co Ltd		283
			TOTAL JAPAN		1,458,531
JERSEY, C.I. - 0.0%
	10,759		Randgold Resources Ltd		979
			TOTAL JERSEY, C.I.		979
KOREA, REPUBLIC OF - 0.1%
	29,000		Hanssem Co Ltd		5,665
	40,743		KB Financial Group, Inc		1,131
	20,000		Samsung Fire & Marine Insurance Co Ltd		5,165
	90,000		Woongjin Coway Co Ltd		7,581
			TOTAL KOREA, REPUBLIC OF		19,542
LUXEMBOURG - 0.1%
	196,836	e	ArcelorMittal		888
	3,377,524		B&M European Value Retail S.A.		12,874
	7,598		Millicom International Cellular S.A.		415
	4,355		RTL Group		368
	36,588		SES Global S.A.		1,070
	53,884		Tenaris S.A.		669
			TOTAL LUXEMBOURG		16,284
MACAU - 0.0%
	167,392		MGM China Holdings Ltd		256
	265,783	*	Wynn Macau Ltd		411
			TOTAL MACAU		667

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
MALAYSIA - 0.1%
	5,555,550		Karex BHD	$	5,410
	1,266,980		Public Bank BHD		6,096
	1,200,000		Tenaga Nasional BHD		4,287
	34,907	*	YNH Property BHD		17
			TOTAL MALAYSIA		15,810
MEXICO - 0.1%
	26,450		Fresnillo plc		361
	700,000		Gruma SAB de C.V.		11,090
			TOTAL MEXICO		11,451
NETHERLANDS - 2.0%
	2,064,255	*,g	ABN AMRO Group NV (ADR)		42,256
	207,032		Aegon NV		1,138
	365,787	*	AerCap Holdings NV		14,178
	326,464		Akzo Nobel NV		22,254
	41,902		Altice NV (Class A)		744
	13,230	*	Altice NV (Class B)		238
	475,631		ASML Holding NV		47,865
	44,600	e	ASML Holding NV (ADR)		4,477
	9,757		Boskalis Westminster		382
	20,333		DSM NV		1,118
	407,995	g	Euronext NV		16,922
	9,144		Gemalto NV		675
	11,328		Heineken Holding NV		882
	70,950		Heineken NV		6,419
	6,516,491		ING Groep NV		77,982
	473,889		Koninklijke Ahold NV		10,644
	107,327		Koninklijke Philips Electronics NV		3,057
	7,860		Koninklijke Vopak NV		391
	27,284		NN Group NV		891
	75,270	*	NXP Semiconductors NV		6,102
	9,564	*,e	OCI NV		187
	14,198		Randstad Holdings NV		785
	1,455,707		Royal Dutch Shell plc (A Shares)		35,150
	1,391,674		Royal Dutch Shell plc (B Shares)		33,866
	362,896		Royal KPN NV		1,520
	943,818		Steinhoff International Holdings NV (GR)		6,151
	56,445		TNT Express NV		506
	1,036,400	*	TomTom NV		10,097
	204,007		Wolters Kluwer NV		8,131
			TOTAL NETHERLANDS		355,008
NEW ZEALAND - 0.1%
	4,000,000		Air New Zealand Ltd		7,908
	158,143		Auckland International Airport Ltd		703
	123,888		Contact Energy Ltd		428
	117,013		Fletcher Building Ltd		638
	216,807	*	Meridian Energy Ltd		392

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	119,038		Mighty River Power Ltd	$	241
	63,754	e	Ryman Healthcare Ltd		368
	312,739		Telecom Corp of New Zealand Ltd		788
			TOTAL NEW ZEALAND		11,466
NORWAY - 0.4%
	1,037,100	*	Det Norske Oljeselskap ASA		7,745
	844,206	e	DNB NOR Holding ASA		9,969
	23,264		Gjensidige Forsikring BA		396
	149,963		Norsk Hydro ASA		616
	91,411		Orkla ASA		827
	8,939		Schibsted ASA		261
	10,421	*	Schibsted ASA (B Shares)		288
	2,714,065	e	Statoil ASA		42,389
	84,512		Telenor ASA		1,367
	20,036		Yara International ASA		752
			TOTAL NORWAY		64,610
PHILIPPINES - 0.1%
	20,895,900		Melco Crown Philippines Resorts Corp		1,148
	4,174,604	*	Metropolitan Bank & Trust		7,474
	8,245,950		Robinsons Retail Holdings, Inc		13,258
			TOTAL PHILIPPINES		21,880
PORTUGAL - 0.1%
	4,577,605	e	Banco Comercial Portugues S.A.		186
	265,203		Energias de Portugal S.A.		941
	52,228		Galp Energia SGPS S.A.		656
	676,650		Jeronimo Martins SGPS S.A.		11,061
			TOTAL PORTUGAL		12,844
RUSSIA - 0.1%
	1,129,800		Sberbank of Russian Federation (ADR)		7,843
	203,100	*	X 5 Retail Group NV (GDR)		4,298
			TOTAL RUSSIA		12,141
SINGAPORE - 0.7%
	361,245		Ascendas REIT		641
	467,658		Broadcom Ltd		72,253
	336,997		CapitaCommercial Trust		368
	968,146		CapitaLand Ltd		2,202
	840,217		CapitaMall Trust		1,302
	168,700		City Developments Ltd		1,022
	361,248		ComfortDelgro Corp Ltd		783
	918,506		DBS Group Holdings Ltd		10,464
	1,032,092		Genting Singapore plc		639
	535,295		Global Logistic Properties		764
	1,200,765		Golden Agri-Resources Ltd		365
	971,847		Hutchison Port Holdings Trust		486
	19,566		Jardine Cycle & Carriage Ltd		581
	527,768	e	Keppel Corp Ltd		2,282

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	54,756		Keppel Infrastructure Trust	$	20
	78,567		K-REIT Asia		58
	879,554		Oversea-Chinese Banking Corp		5,764
	167,148	e	SembCorp Industries Ltd		374
	429,117	e	SembCorp Marine Ltd		525
	194,884		Singapore Airlines Ltd		1,651
	327,743		Singapore Exchange Ltd		1,931
	641,225	e	Singapore Press Holdings Ltd		1,902
	598,907		Singapore Technologies Engineering Ltd		1,434
	3,215,191		Singapore Telecommunications Ltd		9,101
	102,930		StarHub Ltd		256
	419,300		Suntec Real Estate Investment Trust		521
	402,868		United Overseas Bank Ltd		5,635
	81,809	e	UOL Group Ltd		364
	326,162		Wilmar International Ltd		813
			TOTAL SINGAPORE		124,501
SOUTH AFRICA - 0.1%
	42,338		Al Noor Hospitals Group plc		544
	63,122		Investec plc		463
	581,372		Mondi plc		11,118
	50,800		Naspers Ltd (N Shares)		7,081
	90,000		Sasol Ltd		2,671
			TOTAL SOUTH AFRICA		21,877
SPAIN - 0.7%
	57,068		Abertis Infraestructuras S.A. (Continuous)		937
	80,000		Acciona S.A.		6,182
	22,035		ACS Actividades Construccion y Servicios S.A.		655
	7,673	*,g	Aena S.A.		989
	638,869		Amadeus IT Holding S.A.		27,321
	720,324		Banco Bilbao Vizcaya Argentaria S.A.		4,757
	572,627	e	Banco de Sabadell S.A.		1,028
	197,688	e	Banco Popular Espanol S.A.		513
	1,938,649		Banco Santander S.A.		8,514
	519,852		Bankia S.A.		489
	77,665		Bankinter S.A.		547
	300,236		CaixaBank S.A.		885
	2,714	*,e,m	CaixaBank S.A. (Interim)		8
	125,032	e	Corp Mapfre S.A.		269
	968,181	e	Distribuidora Internacional de Alimentacion S.A.		5,017
	24,423		Enagas		733
	1,000,888		Endesa S.A.		19,180
	302,897		Ferrovial S.A.		6,501
	39,807		Gas Natural SDG S.A.		804
	300,000		Gestevision Telecinco S.A.		3,443
	34,183		Grifols S.A.		760
	2,149,941		Iberdrola S.A.		14,312
	123,552		Inditex S.A.		4,141
	129,390	e,m	Let’s GOWEX S.A.		2
	12,120		Red Electrica de Espana		1,050
	389,291		Repsol YPF S.A.		4,377

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	235,400	e	Tecnicas Reunidas S.A.	$	6,604
	851,893		Telefonica S.A.		9,521
	19,947	e	Zardoya Otis S.A.		232
			TOTAL SPAIN		129,771
SWEDEN - 0.8%
	32,826		Alfa Laval AB		536
	170,000	*,e	Arcam AB		3,669
	337,746		Assa Abloy AB		6,649
	75,905		Atlas Copco AB (A Shares)		1,905
	42,998		Atlas Copco AB (B Shares)		1,012
	19,736	e	Autoliv, Inc		2,338
	621,962		Boliden AB		9,921
	803,308	e	Electrolux AB (Series B)		21,095
	344,447		Ericsson (LM) (B Shares)		3,449
	22,793	e	Getinge AB (B Shares)		524
	107,481		Hennes & Mauritz AB (B Shares)		3,577
	313,769		Hexagon AB (B Shares)		12,195
	47,712		Husqvarna AB (B Shares)		348
	9,295	e	ICA Gruppen AB		307
	18,204		Industrivarden AB		310
	713,283		Intrum Justitia AB		25,136
	51,092		Investor AB (B Shares)		1,806
	200,000		JM AB		5,176
	312,699		Kinnevik Investment AB (Series B)		8,858
	24,934	*,e	Lundin Petroleum AB		422
	200,000		NCC AB (B Shares)		7,280
	343,877	e	Nordea Bank AB		3,298
	120,882	e	Sandvik AB		1,249
	34,908		Securitas AB (B Shares)		577
	171,361	e	Skandinaviska Enskilda Banken AB (Class A)		1,634
	43,221	e	Skanska AB (B Shares)		986
	44,789	e	SKF AB (B Shares)		807
	68,514		Svenska Cellulosa AB (B Shares)		2,137
	169,380	e	Svenska Handelsbanken AB		2,149
	302,571		Swedbank AB (A Shares)		6,498
	22,064		Swedish Match AB		748
	35,754	e	Tele2 AB		331
	292,750		TeliaSonera AB		1,517
	684,908	e	Volvo AB (B Shares)		7,502
			TOTAL SWEDEN		145,946
SWITZERLAND - 3.4%
	248,705		ABB Ltd		4,845
	72,606		Actelion Ltd		10,836
	411,762		Adecco S.A.		26,786
	10,053		Aryzta AG.		415
	57,701		Baloise Holding AG.		7,324
	260		Barry Callebaut AG.		282
	388,354		Cie Financiere Richemont S.A.		25,651
	22,985		Coca-Cola HBC AG.		487
	203,090	*	Credit Suisse Group		2,868

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	4,529	*	Dufry Group	$	556
	911		EMS-Chemie Holding AG.		472
	7,200		Flughafen Zuerich AG.		6,441
	448		Galenica AG.		672
	4,270		Geberit AG.		1,596
	8,000		Georg Fischer AG.		6,461
	1,037		Givaudan S.A.		2,032
	1,392,532		Glencore Xstrata plc		3,131
	51,242		Holcim Ltd		2,406
	24,861		Julius Baer Group Ltd		1,066
	8,000		Kaba Holding AG.		5,102
	6,188		Kuehne & Nagel International AG.		879
	112		Lindt & Spruengli AG.		694
	12		Lindt & Spruengli AG. (Registered)		898
	299,809		Lonza Group AG.		50,680
	1,252,501		Nestle S.A.		93,463
	1,633,994		Novartis AG.		118,222
	3,521		Pargesa Holding S.A.		224
	1,824		Partners Group		733
	6,045		Phonak Holding AG.		772
	335,673		Roche Holding AG.		82,421
	4,963		Schindler Holding AG.		914
	2,236		Schindler Holding AG. (Registered)		409
	613		SGS S.A.		1,294
	245		Sika AG.		970
	73,842		STMicroelectronics NV		411
	1,554		Sulzer AG.		154
	3,660	e	Swatch Group AG.		1,263
	4,778		Swatch Group AG. (Registered)		322
	3,603		Swiss Life Holding		956
	7,513	*	Swiss Prime Site AG.		662
	541,674		Swiss Re Ltd		50,018
	2,911		Swisscom AG.		1,580
	26,832		Syngenta AG.		11,127
	169,459		TE Connectivity Ltd		10,493
	2,705,010		UBS AG.		43,513
	529,924		Wolseley plc		29,914
	16,965		Zurich Financial Services AG.		3,934
			TOTAL SWITZERLAND		616,349
TAIWAN - 0.3%
	11,940,000		Advanced Semiconductor Engineering, Inc		13,830
	1,175,000		Catcher Technology Co Ltd		9,630
	871,552	*	Eclat Textile Co Ltd		11,483
	2,781,746		Hota Industrial Manufacturing Co Ltd		12,088
	447,200		King Slide Works Co Ltd		5,161
	2,300,000		Pegatron Technology Corp		5,355
			TOTAL TAIWAN		57,547
THAILAND - 0.0%
	3,000,000		Delta Electronics Thai PCL		7,412
			TOTAL THAILAND		7,412

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
UNITED ARAB EMIRATES - 0.0%
	1,734,000		Emaar Properties PJSC	$	2,843
			TOTAL UNITED ARAB EMIRATES		2,843
UNITED KINGDOM - 7.4%
	107,566		3i Group plc		703
	102,972	e	Aberdeen Asset Management plc		409
	24,179		Admiral Group plc		687
	28,810		Aggreko plc		445
	160,364		Anglo American plc (London)		1,264
	2,327,052		ARM Holdings plc		33,885
	1,750,738		Ashtead Group plc		21,679
	110,100	*	ASOS plc		5,132
	921,520		Associated British Foods plc		44,212
	483,876		AstraZeneca plc		27,016
	3,648,142	g	Auto Trader Group plc		20,412
	907,911		Aviva plc		5,928
	28,158		Babcock International Group		383
	356,185		BAE Systems plc		2,598
	22,254,382		Barclays plc		47,771
	114,371		Barratt Developments plc		918
	300,000		Bellway plc		11,285
	381,043	*	Belmond Ltd.		3,616
	14,846		Berkeley Group Holdings plc		685
	6,120,707		BP plc		30,624
	1,020,752		British American Tobacco plc		59,689
	108,386		British Land Co plc		1,088
	2,459,173		Britvic plc		25,063
	1,292,632		BT Group plc		8,162
	37,228		Bunzl plc		1,080
	50,729		Burberry Group plc		992
	74,557		Capita Group plc		1,113
	570,009		Centrica plc		1,862
	686,400		Cineworld Group plc		5,288
	108,886		CNH Industrial NV		739
	127,983		Cobham plc		399
	562,101		Compass Group plc		9,909
	136,700		Consort Medical plc		2,109
	198,594		Croda International plc		8,647
	102,330	*	CYBG plc		306
	60,000		DCC plc		5,292
	754,026		Delphi Automotive plc		56,567
	484,430		Diageo plc		13,062
	152,818		Direct Line Insurance Group plc		811
	1,300,491		easyJet plc		28,305
	930,100		Fevertree Drinks plc		8,838
	2,126,223	e	Fiat DaimlerChrysler Automobiles NV		17,158
	189,355		GKN plc		784
	3,987,207		GlaxoSmithKline plc		80,714
	172,516		Group 4 Securicor plc		471
	87,257		Hammerson plc		724

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	29,175		Hargreaves Lansdown plc	$	562
	8,557,727		Hays plc		14,856
	2,215,809		HSBC Holdings plc		13,780
	62,032		ICAP plc		422
	30,479		IMI plc		416
	248,636		Imperial Tobacco Group plc		13,766
	800,000		Inchcape plc		8,297
	50,706		Inmarsat plc		715
	26,551		InterContinental Hotels Group plc		1,093
	91,240		International Consolidated Airlines Group S.A.		726
	7,054,455		International Consolidated Airlines Group S.A. (London)		55,942
	18,163		Intertek Group plc		825
	429,351		ITV plc		1,484
	150,230	e	J Sainsbury plc		595
	21,781		Johnson Matthey plc		856
	1,866,414	*	Just Eat plc		10,105
	258,577		Kingfisher plc		1,395
	89,392		Land Securities Group plc		1,410
	9,865,198		Legal & General Group plc		33,240
	240,480	*	Liberty Global plc		9,032
	75,316	*	Liberty Global plc (Class A)		2,900
	1,652	*	Liberty Global plc LiLAC (Class A)		58
	1,902	*,e	Liberty Global plc LiLAC (Class C)		72
	106,754	e	Liberty International plc		479
	6,464,193		Lloyds TSB Group plc		6,296
	445,790		London Stock Exchange Group plc		18,008
	6,800,024		Man Group plc		14,863
	186,193		Marks & Spencer Group plc		1,085
	86,605		Meggitt plc		505
	79,884	g	Merlin Entertainments plc		531
	423,548		National Grid plc		5,993
	109,267		New Carphone Warehouse plc		668
	339,681		Next plc		26,305
	557,970		Old Mutual plc		1,541
	447,100		OneSavings Bank plc		2,137
	93,265		Pearson plc		1,169
	23,302		Pentair plc		1,264
	34,421		Persimmon plc		1,029
	29,735		Petrofac Ltd		392
	16,626		Provident Financial plc		707
	3,063,525		Prudential plc		57,007
	1,760,164	*	Purplebricks Group plc		3,293
	389,690		Reckitt Benckiser Group plc		37,588
	623,317		Reed Elsevier NV		10,867
	125,390		Reed Elsevier plc		2,326
	1,200,000		Regus plc		5,447
	80,908		Rexam plc		735
	227,462		Rightmove plc		13,736
	154,058		Rio Tinto Ltd		5,016
	638,811		Rio Tinto plc		17,906
	207,986		Rolls-Royce Group plc		2,033
	390,123	*	Royal Bank of Scotland Group plc		1,244

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	800,824		Royal Mail plc	$	5,522
	115,297		RSA Insurance Group plc		786
	552,767		SABMiller plc		33,762
	121,209		Sage Group plc		1,093
	14,210		Schroders plc		546
	113,570		Scottish & Southern Energy plc		2,430
	83,985		Segro plc		494
	26,551		Severn Trent plc		827
	3,066,588		Sky plc		45,062
	101,516		Smith & Nephew plc		1,670
	45,049		Smiths Group plc		695
	29,469	*	Sports Direct International plc		160
	59,180		St. James’s Place plc		778
	725,491	*	Standard Chartered plc		4,907
	221,219		Standard Life plc		1,128
	53,054		Tate & Lyle plc		440
	4,273,227		Taylor Wimpey plc		11,646
	919,377	*	Tesco plc		2,525
	1,114,927		Travis Perkins plc		29,206
	620,976		Unilever NV		27,918
	210,120		Unilever plc		9,475
	77,501		United Utilities Group plc		1,026
	1,000,900		Vesuvius plc		4,768
	1,791,586		Virgin Money Holdings UK plc		9,490
	14,696,024		Vodafone Group plc		46,699
	24,293		Weir Group plc		386
	230,000		WH Smith plc		5,991
	356,982		Whitbread plc		20,265
	101,316		William Hill plc		474
	252,064	e	WM Morrison Supermarkets plc		718
	126,487	*,g	Worldpay Group plc		498
	2,270,188		WPP plc		52,840
			TOTAL UNITED KINGDOM		1,335,766
UNITED STATES - 58.0%
	114,513		3M Co		19,081
	191,200		Aaron’s, Inc		4,799
	1,315,798		Abbott Laboratories		55,040
	426,835		AbbVie, Inc		24,381
	237,878	e	Abercrombie & Fitch Co (Class A)		7,503
	219,460		Accenture plc		25,326
	86,398		Activision Blizzard, Inc		2,924
	24,998		Acuity Brands, Inc		5,453
	434,460	*	Adobe Systems, Inc		40,752
	43,739		ADT Corp		1,805
	15,592		Advance Auto Parts, Inc		2,500
	187,060		AES Corp		2,207
	351,963		Aetna Inc		39,543
	8,453	*	Affiliated Managers Group, Inc		1,373
	67,846		Aflac, Inc		4,284
	26,653	e	AGCO Corp		1,325
	104,767		Agilent Technologies, Inc		4,175

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	49,368		AGL Resources, Inc	$	3,216
	29,199		Air Products & Chemicals, Inc		4,206
	13,099		Airgas, Inc		1,855
	46,900	*	Akamai Technologies, Inc		2,606
	99,100		Alaska Air Group, Inc		8,128
	312,723		Albemarle Corp		19,992
	612,087	e	Alcoa, Inc		5,864
	242,538	*	Alexion Pharmaceuticals, Inc		33,766
	36,324	*	Alkermes plc		1,242
	4,276	*	Alleghany Corp		2,122
	16,000		Allegiant Travel Co		2,849
	432,545	*	Allergan plc		115,935
	74,264	*	Alliance Data Systems Corp		16,338
	40,542		Alliant Energy Corp		3,011
	201,004		Allstate Corp		13,542
	56,305	*	Ally Financial, Inc		1,054
	20,158	*	Alnylam Pharmaceuticals, Inc		1,265
	141,961	*	Alphabet, Inc (Class A)		108,302
	235,700	*	Alphabet, Inc (Class C)		175,585
	648,218		Altria Group, Inc		40,617
	167,421	*	Amazon.com, Inc		99,388
	65,000	*	AMC Networks, Inc		4,221
	120,000		Amdocs Ltd		7,250
	13,182		Amerco, Inc		4,710
	81,064		Ameren Corp		4,061
	37,711		American Airlines Group, Inc		1,547
	139,322		American Capital Agency Corp		2,596
	236,822		American Electric Power Co, Inc		15,725
	162,752		American Express Co		9,993
	148,000		American Financial Group, Inc		10,415
	413,388		American International Group, Inc		22,344
	66,871		American Tower Corp		6,846
	112,963		American Water Works Co, Inc		7,787
	121,856		Ameriprise Financial, Inc		11,456
	85,675		AmerisourceBergen Corp		7,415
	33,755		Ametek, Inc		1,687
	280,883		Amgen, Inc		42,113
	117,450		Amphenol Corp (Class A)		6,791
	392,272		Anadarko Petroleum Corp		18,268
	87,731		Analog Devices, Inc		5,193
	359,659		Annaly Capital Management, Inc		3,690
	20,579	*	Ansys, Inc		1,841
	25,836	*	Antero Resources Corp		643
	194,504		Anthem, Inc		27,034
	73,175		Aon plc		7,643
	231,384		Apache Corp		11,294
	3,241,271		Apple, Inc		353,266
	926,573		Applied Materials, Inc		19,625
	35,622		ARAMARK Holdings Corp		1,180
	99,711		Archer Daniels Midland Co		3,621
	12,628		Arrow Electronics, Inc		813
	27,496		Arthur J. Gallagher & Co		1,223

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	42,000	*	Asbury Automotive Group, Inc	$	2,513
	15,591		Ashland, Inc		1,714
	23,459		Assurant, Inc		1,810
	2,670,157		AT&T, Inc		104,590
	23,858		Atmos Energy Corp		1,772
	39,271	*	Autodesk, Inc		2,290
	105,976		Automatic Data Processing, Inc		9,507
	18,543	*,e	Autonation, Inc		866
	28,082	*	AutoZone, Inc		22,373
	29,585		AvalonBay Communities, Inc		5,627
	31,384		Avery Dennison Corp		2,263
	20,903		Avnet, Inc		926
	32,339	*	Axalta Coating Systems Ltd		944
	127,698		Axiall Corp		2,789
	184,452		Axis Capital Holdings Ltd		10,230
	178,245		Baker Hughes, Inc		7,812
	30,027		Ball Corp		2,141
	7,833,900		Bank of America Corp		105,914
	578,863		Bank of New York Mellon Corp		21,320
	23,668		Bard (C.R.), Inc		4,797
	736,067		Baxalta, Inc		29,737
	1,079,770		Baxter International, Inc		44,357
	155,318		BB&T Corp		5,167
	19,718		BE Aerospace, Inc		909
	60,751		Becton Dickinson & Co		9,223
	73,512	*	Bed Bath & Beyond, Inc		3,649
	269,620	*	Berkshire Hathaway, Inc (Class B)		38,254
	1,016,322	*	Berry Plastics Group, Inc		36,740
	510,736		Best Buy Co, Inc		16,568
	269,938	e	Big Lots, Inc		12,225
	92,058	*	Biogen Idec, Inc		23,965
	105,888	*	BioMarin Pharmaceutical, Inc		8,734
	43,264		BlackRock, Inc		14,734
	218,000		Blackstone Group LP		6,115
	112,775		Boeing Co		14,316
	31,408		BorgWarner, Inc		1,206
	31,834		Boston Properties, Inc		4,045
	1,342,058	*	Boston Scientific Corp		25,244
	90,000		Brinker International, Inc		4,135
	837,437		Bristol-Myers Squibb Co		53,495
	28,799		Brixmor Property Group, Inc		738
	660,000		Brocade Communications Systems, Inc		6,983
	23,822		Brown-Forman Corp (Class B)		2,346
	45,013		Bunge Ltd		2,551
	302,150		BWX Technologies, Inc		10,140
	82,732		CA, Inc		2,547
	85,686		Cablevision Systems Corp (Class A)		2,828
	170,322		Cabot Oil & Gas Corp		3,868
	97,000	*	CACI International, Inc (Class A)		10,350
	6,010		California Resources Corp		6
	55,000	e	Cal-Maine Foods, Inc		2,855
	71,390	*	Calpine Corp		1,083

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	35,111		Camden Property Trust	$	2,952
	58,217	*	Cameron International Corp		3,903
	51,034		Campbell Soup Co		3,255
	219,517		Capital One Financial Corp		15,215
	177,284		Cardinal Health, Inc		14,528
	79,571	*,e	Carmax, Inc		4,066
	323,142		Carnival Corp		17,052
	121,514		Carnival plc		6,527
	50,000		Carter’s, Inc		5,269
	113,156		Caterpillar, Inc		8,661
	785,010	*	CBRE Group, Inc		22,624
	464,066		CBS Corp (Class B)		25,565
	16,935		CDK Global, Inc		788
	246,847		CDW Corp		10,244
	37,440		Celanese Corp (Series A)		2,452
	658,095	*	Celgene Corp		65,869
	130,925	*	Centene Corp		8,061
	143,267		Centerpoint Energy, Inc		2,997
	117,792		CenturyTel, Inc		3,765
	56,041	*	Cerner Corp		2,968
	386,678		CF Industries Holdings, Inc		12,118
	38,414		CH Robinson Worldwide, Inc		2,851
	273,391		Charles Schwab Corp		7,660
	23,797	*,e	Charter Communications, Inc		4,817
	40,000		Chemed Corp		5,418
	30,059	*,e	Cheniere Energy, Inc		1,017
	16,269	e	Chesapeake Energy Corp		67
	953,959		Chevron Corp		91,008
	138,265		Chicago Bridge & Iron Co NV		5,059
	10,296	*	Chipotle Mexican Grill, Inc (Class A)		4,849
	737,281		Chubb Ltd		87,847
	54,487		Church & Dwight Co, Inc		5,023
	76,700	*	Ciena Corp		1,459
	189,887		Cigna Corp		26,060
	19,399		Cimarex Energy Co		1,887
	35,121		Cincinnati Financial Corp		2,296
	34,315		Cintas Corp		3,082
	2,983,489		Cisco Systems, Inc		84,940
	187,386		CIT Group, Inc		5,815
	1,049,415		Citigroup, Inc		43,813
	67,575		Citizens Financial Group, Inc		1,416
	110,066	*	Citrix Systems, Inc		8,649
	233,800	*,e	Cliffs Natural Resources, Inc		701
	64,960		Clorox Co		8,189
	64,595		CME Group, Inc		6,204
	479,094		CMS Energy Corp		20,333
	481,668		Coach, Inc		19,310
	2,725,513		Coca-Cola Co		126,437
	111,232		Coca-Cola Enterprises, Inc		5,644
	184,069	*	Cognizant Technology Solutions Corp (Class A)		11,541
	136,308		Colgate-Palmolive Co		9,630
	87,193		Columbia Pipeline Group, Inc		2,189

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	2,622,216		Comcast Corp (Class A)	$	160,165
	95,306		Comerica, Inc		3,609
	200,000	*	CommScope Holding Co, Inc		5,584
	100,000		Community Health Systems, Inc		1,851
	499,000		Computer Sciences Corp		17,161
	213,486		ConAgra Foods, Inc		9,526
	346,801	*	Concho Resources, Inc		35,041
	198,114		ConocoPhillips		7,978
	300,000		Conseco, Inc		5,376
	107,536		Consolidated Edison, Inc		8,239
	48,957		Constellation Brands, Inc (Class A)		7,397
	134,127	*,e	Continental Resources, Inc		4,072
	13,209		Cooper Cos, Inc		2,034
	24,578	e	Core Laboratories NV		2,763
	284,004		Corning, Inc		5,933
	343,951		Costco Wholesale Corp		54,200
	22,500	*,e	Credit Acceptance Corp		4,085
	103,005		Crown Castle International Corp		8,910
	141,478	*	Crown Holdings, Inc		7,016
	120,000		CSRA, Inc		3,228
	478,774		CSX Corp		12,328
	73,513		Cummins, Inc		8,082
	772,037		CVS Health Corp		80,083
	451,406		Danaher Corp		42,820
	103,405		Darden Restaurants, Inc		6,856
	138,408	*	DaVita, Inc		10,156
	61,497	e	Deere & Co		4,735
	1,338,022		Delta Air Lines, Inc		65,135
	110,000		Deluxe Corp		6,874
	68,009		DENTSPLY SIRONA, Inc		4,191
	107,222		Devon Energy Corp		2,942
	61,675	*	Diamondback Energy, Inc		4,760
	132,541		Dick’s Sporting Goods, Inc		6,196
	48,345		Digital Realty Trust, Inc		4,278
	76,236		Discover Financial Services		3,882
	40,642	*,e	Discovery Communications, Inc (Class A)		1,164
	57,427	*	Discovery Communications, Inc (Class C)		1,551
	97,450		DISH Network Corp (Class A)		4,508
	433,247		Dollar General Corp		37,086
	71,091	*	Dollar Tree, Inc		5,862
	126,245		Dominion Resources, Inc		9,484
	38,233		Dover Corp		2,460
	1,093,523		Dow Chemical Co		55,617
	82,218		DR Horton, Inc		2,485
	122,718		Dr Pepper Snapple Group, Inc		10,973
	41,200		DST Systems, Inc		4,646
	124,377		DTE Energy Co		11,276
	120,864		Duke Energy Corp		9,751
	113,535		Duke Realty Corp		2,559
	9,196		Dun & Bradstreet Corp		948
	135,433	*	E*TRADE Financial Corp		3,317
	123,839		East West Bancorp, Inc		4,022

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	36,347		Eastman Chemical Co	$	2,625
	80,489		Eaton Corp		5,035
	20,056		Eaton Vance Corp		672
	190,953	*	eBay, Inc		4,556
	47,575		Ecolab, Inc		5,306
	13,847		Edgewell Personal Care Co		1,115
	79,186		Edison International		5,693
	110,834	*	Edwards Lifesciences Corp		9,777
	487,271		EI du Pont de Nemours & Co		30,854
	85,967	*	Electronic Arts, Inc		5,683
	644,980		Eli Lilly & Co		46,445
	1,014,301		EMC Corp		27,031
	93,412		Emerson Electric Co		5,080
	42,992	*	Endo International plc		1,210
	7,631		Energen Corp		279
	1,784	*	Engility Holdings, Inc		33
	9,794		Ensco plc		102
	58,287		Entergy Corp		4,621
	30,373	*	Envision Healthcare Holdings, Inc		620
	1,388,331		EOG Resources, Inc		100,765
	46,548		EQT Corp		3,131
	39,337		Equifax, Inc		4,496
	21,556		Equinix, Inc		7,129
	108,189		Equity Residential		8,117
	21,632		Essex Property Trust, Inc		5,059
	97,381		Estee Lauder Cos (Class A)		9,184
	120,000	*	Euronet Worldwide, Inc		8,893
	67,163		Everest Re Group Ltd		13,260
	117,221		Eversource Energy		6,839
	177,811		Exelon Corp		6,376
	162,795		Expedia, Inc		17,553
	33,637		Expeditors International of Washington, Inc		1,642
	835,669	*	Express Scripts Holding Co		57,402
	630,584		Extended Stay America, Inc		10,279
	72,432		Extra Space Storage, Inc		6,769
	1,993,532	d	Exxon Mobil Corp		166,639
	102,719	*	F5 Networks, Inc		10,873
	1,092,918	*	Facebook, Inc		124,702
	73,944	e	Fastenal Co		3,623
	25,497		Federal Realty Investment Trust		3,979
	141,650		FedEx Corp		23,049
	53,507		Fidelity National Information Services, Inc		3,388
	153,590		Fifth Third Bancorp		2,563
	25,885	*,e	FireEye, Inc		466
	135,500	*	First American Corp		4,702
	46,621		First Republic Bank		3,107
	135,440		FirstEnergy Corp		4,872
	113,586	*	Fiserv, Inc		11,652
	31,424	*	FleetCor Technologies, Inc		4,674
	693,761	*	Flextronics International Ltd		8,367
	52,721		Flir Systems, Inc		1,737
	31,090		Flowserve Corp		1,381

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	35,122		Fluor Corp	$	1,886
	29,931	e	FMC Corp		1,208
	45,532	*	FMC Technologies, Inc		1,246
	31,894		FNF Group		1,081
	152,255		Foot Locker, Inc		9,820
	504,950		Ford Motor Co		6,817
	42,016	*	Fortinet, Inc		1,287
	25,135		Fortune Brands Home & Security, Inc		1,409
	8,357		Four Corners Property Trust, Inc		150
	64,860		Franklin Resources, Inc		2,533
	148,442	e	Freeport-McMoRan Copper & Gold, Inc (Class B)		1,535
	256,446	e	Frontier Communications Corp		1,434
	223,257	e	GameStop Corp (Class A)		7,084
	459,743		Gaming and Leisure Properties, Inc		14,215
	74,777		Gap, Inc		2,198
	27,590		Garmin Ltd		1,102
	21,745		Gartner, Inc		1,943
	128,297		General Dynamics Corp		16,854
	3,583,738		General Electric Co		113,927
	114,874		General Growth Properties, Inc		3,415
	122,307		General Mills, Inc		7,748
	186,571		General Motors Co		5,864
	4,461,000	*,m	General Motors Co		0
	13,592,224	*,m	General Motors Co		0
	29,845,445	*,m	General Motors Co		0
	69,850,000	*,m	General Motors Co		0
	61,921,000	*,e,m	General Motors Co		0
	18,159,000	*,m	General Motors Co		0
	530,757	*,m	General Motors Co		0
	26,439,985	*,m	General Motors Co		0
	18,106,794	*,e,m	General Motors Co		0
	19,417,463	*,m	General Motors Co		0
	40,350		Genuine Parts Co		4,009
	766,623		Gilead Sciences, Inc		70,422
	260,752		Global Payments, Inc		17,027
	284,427		Goldman Sachs Group, Inc		44,649
	213,090		Goodyear Tire & Rubber Co		7,028
	44,949	e	H&R Block, Inc		1,188
	1		H.B. Fuller Co		0	^
	586,148		Halliburton Co		20,937
	127,821		Hanesbrands, Inc		3,622
	36,060	e	Harley-Davidson, Inc		1,851
	11,070		Harman International Industries, Inc		986
	29,494		Harris Corp		2,296
	100,366		Hartford Financial Services Group, Inc		4,625
	40,566		Hasbro, Inc		3,249
	276,749		HCA Holdings, Inc		21,600
	107,914		HCP, Inc		3,516
	431,610	*	HD Supply Holdings, Inc		14,273
	170,000	e	Healthsouth Corp		6,397
	27,887	e	Helmerich & Payne, Inc		1,638
	25,619	*	Henry Schein, Inc		4,423

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	33,600	*,e	Herbalife Ltd	$	2,068
	180,000		Herman Miller, Inc		5,560
	37,375		Hershey Co		3,442
	880,107	*	Hertz Global Holdings, Inc		9,268
	121,655		Hess Corp		6,405
	1,814,289		Hewlett Packard Enterprise Co		32,167
	109,088		Hilton Worldwide Holdings, Inc		2,457
	34,852		HollyFrontier Corp		1,231
	314,455	*	Hologic, Inc		10,849
	909,616		Home Depot, Inc		121,370
	924,155		Honeywell International, Inc		103,552
	88,936		Hormel Foods Corp		3,846
	141,344		Host Marriott Corp		2,360
	590,144		HP, Inc		7,271
	45,796		Humana, Inc		8,378
	1,191,444		Huntington Bancshares, Inc		11,366
	60,000		Huntington Ingalls		8,216
	60,000		Icahn Enterprises LP		3,783
	17,713	*	IHS, Inc (Class A)		2,199
	50,047		Illinois Tool Works, Inc		5,127
	59,753	*	Illumina, Inc		9,687
	38,198	*	IMS Health Holdings, Inc		1,014
	32,155	*	Incyte Corp		2,330
	384,812		Ingersoll-Rand plc		23,862
	45,000		Ingredion, Inc		4,806
	1,195,083		Intel Corp		38,661
	33,257		IntercontinentalExchange Group, Inc		7,820
	176,192		International Business Machines Corp		26,684
	27,690		International Flavors & Fragrances, Inc		3,150
	70,118		International Paper Co		2,878
	576,199		Interpublic Group of Cos, Inc		13,224
	84,189		Intuit, Inc		8,756
	38,994	*	Intuitive Surgical, Inc		23,437
	54,983		Invesco Ltd		1,692
	15,731	*,e	Ionis Pharmaceuticals, Inc		637
	32,253		Iron Mountain, Inc		1,094
	246,915	e	iShares MSCI Canada Index Fund		5,854
	1,108,052	e	iShares MSCI EAFE Index Fund		63,303
	140,000		ITT Corp		5,165
	32,529		J.B. Hunt Transport Services, Inc		2,740
	39,160		J.M. Smucker Co		5,085
	33,836	*	Jacobs Engineering Group, Inc		1,474
	352,256	*	Jarden Corp		20,765
	23,173	*	Jazz Pharmaceuticals plc		3,025
	1,124,172		Johnson & Johnson		121,635
	150,454		Johnson Controls, Inc		5,863
	49,684		Jones Lang LaSalle, Inc		5,829
	2,636,202		JPMorgan Chase & Co		156,116
	339,416		Juniper Networks, Inc		8,658
	202,860		Kansas City Southern Industries, Inc		17,334
	84,401		Kellogg Co		6,461
	160,139		Keycorp		1,768

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	112,732		Kimberly-Clark Corp	$	15,164
	122,823		Kimco Realty Corp		3,535
	444,386		Kinder Morgan, Inc		7,937
	42,822		Kla-Tencor Corp		3,118
	107,076		Kohl’s Corp		4,991
	130,000		Korn/Ferry International		3,678
	317,001		Kraft Heinz Co		24,904
	524,766		Kroger Co		20,072
	111,146		L Brands, Inc		9,760
	51,413		L-3 Communications Holdings, Inc		6,092
	137,489	*	Laboratory Corp of America Holdings		16,104
	421,998		Lam Research Corp		34,857
	92,820		Las Vegas Sands Corp		4,797
	90,000		Lazard Ltd (Class A)		3,492
	131,250		Lear Corp		14,591
	17,555		Legg Mason, Inc		609
	46,019		Leggett & Platt, Inc		2,227
	34,702		Lennar Corp (Class A)		1,678
	52,586		Leucadia National Corp		850
	70,652	*	Level 3 Communications, Inc		3,734
	130,000		Lexmark International, Inc (Class A)		4,346
	77,347	*	Liberty Interactive Corp		1,953
	35,211	*	Liberty Media Corp		1,360
	25,139	*	Liberty Media Corp (Class C)		958
	47,924		Liberty Property Trust		1,604
	258,270		Lincoln National Corp		10,124
	72,157		Linear Technology Corp		3,215
	18,965	*	LinkedIn Corp		2,169
	87,294	*	LKQ Corp		2,787
	78,130		Lockheed Martin Corp		17,306
	60,759		Loews Corp		2,325
	840,195	*	Louisiana-Pacific Corp		14,384
	889,256		Lowe’s Companies, Inc		67,361
	580,239	*,e	Lululemon Athletica, Inc		39,288
	142,164		LyondellBasell Industries AF S.C.A		12,166
	51,133		M&T Bank Corp		5,676
	82,954		Macerich Co		6,573
	136,732		Macy’s, Inc		6,029
	15,342	*	Mallinckrodt plc		940
	78,876		Manpower, Inc		6,422
	145,812		Marathon Oil Corp		1,624
	202,935		Marathon Petroleum Corp		7,545
	5,249	*	Markel Corp		4,680
	30,562	e	Marriott International, Inc (Class A)		2,175
	240,398		Marsh & McLennan Cos, Inc		14,614
	15,642		Martin Marietta Materials, Inc		2,495
	98,122		Masco Corp		3,086
	284,745		Mastercard, Inc (Class A)		26,908
	184,199	*	Matador Resources Co		3,492
	166,913		Mattel, Inc		5,612
	85,462		Maxim Integrated Products, Inc		3,143
	43,544		McCormick & Co, Inc		4,332

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	448,788		McDonald’s Corp	$	56,404
	55,439		McGraw-Hill Financial, Inc		5,487
	142,091		McKesson Corp		22,344
	679		MDC Holdings, Inc		17
	38,092		Mead Johnson Nutrition Co		3,237
	37,103		Medivation, Inc		1,706
	35,908	*	MEDNAX, Inc		2,320
	370,432		Medtronic plc		27,782
	190,000		Mentor Graphics Corp		3,863
	741,720		Merck & Co, Inc		39,244
	766,065	*,e	Merrimack Pharmaceuticals, Inc		6,412
	1,389,365		Metlife, Inc		61,049
	8,047	*	Mettler-Toledo International, Inc		2,774
	2,289,135	*	MGM Resorts International		49,079
	57,946	*	Michael Kors Holdings Ltd		3,301
	200,000	*	Michaels Cos, Inc		5,594
	52,663	e	Microchip Technology, Inc		2,538
	623,434	*	Micron Technology, Inc		6,527
	120,000		Microsemi Corp		4,597
	3,661,397		Microsoft Corp		202,219
	14,000	*	MicroStrategy, Inc (Class A)		2,516
	17,645		Mid-America Apartment Communities, Inc		1,803
	258,671	*,e	Mobileye NV		9,646
	13,531	*	Mohawk Industries, Inc		2,583
	183,007		Molson Coors Brewing Co (Class B)		17,602
	974,729		Mondelez International, Inc		39,106
	134,597		Monsanto Co		11,810
	119,762	*	Monster Beverage Corp		15,974
	29,814		Moody’s Corp		2,879
	342,719		Morgan Stanley		8,571
	58,257		Mosaic Co		1,573
	57,142		Motorola, Inc		4,326
	12,481		MSCI, Inc (Class A)		925
	1	*	MSG Networks, Inc		0	^
	34,363	e	Murphy Oil Corp		866
	568,187	*	Mylan NV		26,335
	223,800		Nabors Industries Ltd		2,059
	40,548		NASDAQ OMX Group, Inc		2,692
	73,982	e	National Oilwell Varco, Inc		2,301
	46,841		Navient Corp		561
	115,167		NetApp, Inc		3,143
	119,228	*	NetFlix, Inc		12,189
	6,268	*,e	NetSuite, Inc		429
	152,000		New York Community Bancorp, Inc		2,417
	399,662	e	Newell Rubbermaid, Inc		17,701
	65,000	*	Newfield Exploration Co		2,161
	194,618		Newmont Mining Corp		5,173
	52,340		News Corp		668
	412,368		NextEra Energy, Inc		48,800
	82,234		Nielsen NV		4,330
	634,614		Nike, Inc (Class B)		39,010
	385,114		NiSource, Inc		9,073

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	63,223		Noble Energy, Inc	$	1,986
	304,003	e	Nordstrom, Inc		17,392
	68,825		Norfolk Southern Corp		5,730
	46,516		Northern Trust Corp		3,031
	297,718		Northrop Grumman Corp		58,918
	305,832	*	Norwegian Cruise Line Holdings Ltd		16,909
	72,791		NRG Energy, Inc		947
	116,917	*	Nuance Communications, Inc		2,185
	84,036		Nucor Corp		3,975
	360,564		Nvidia Corp		12,847
	9,945	*	NVR, Inc		17,229
	1,217,374	*	Occidental Petroleum Corp		83,305
	23,325		Oceaneering International, Inc		775
	48,032		OGE Energy Corp		1,375
	350,059		Olin Corp		6,081
	67,804		Omnicom Group, Inc		5,643
	55,309	e	Oneok, Inc		1,652
	2,570,828		Oracle Corp		105,173
	92,169		Orbital ATK, Inc		8,013
	42,994	*	O’Reilly Automotive, Inc		11,766
	32,621		Owens Corning, Inc		1,542
	74,025		Paccar, Inc		4,048
	15,031		Packaging Corp of America		908
	57,752	*	Palo Alto Networks, Inc		9,422
	90,000	*	Parexel International Corp		5,646
	179,489		Parker Hannifin Corp		19,938
	39,209		Patterson Cos, Inc		1,824
	96,685		Paychex, Inc		5,222
	777,713	*	PayPal Holdings, Inc		30,020
	126,064	e	People’s United Financial, Inc		2,008
	390,969		PepsiCo, Inc		40,067
	83,949		Perrigo Co plc		10,740
	3,704,321		Pfizer, Inc		109,796
	130,678		PG&E Corp		7,804
	891,355		Philip Morris International, Inc		87,451
	146,785		Phillips 66		12,710
	29,344		Phillips-Van Heusen Corp		2,907
	400,000	*,e	Pilgrim’s Pride Corp		10,160
	1,066,804		Pinnacle Foods, Inc		47,665
	39,344		Pinnacle West Capital Corp		2,954
	164,829		Pioneer Natural Resources Co		23,198
	33,501		Plains GP Holdings LP		291
	117,625		PNC Financial Services Group, Inc		9,948
	14,969	e	Polaris Industries, Inc		1,474
	489,641		PPG Industries, Inc		54,590
	201,077		PPL Corp		7,655
	75,000	e	PRA Group, Inc		2,204
	45,342		Praxair, Inc		5,189
	13,985	*	Priceline.com, Inc		18,026
	37,786		Principal Financial Group		1,491
	1,283,330		Procter & Gamble Co		105,631
	121,832		Progressive Corp		4,281

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	93,593		Prologis, Inc	$	4,135
	132,547		Prudential Financial, Inc		9,573
	165,243		Public Service Enterprise Group, Inc		7,790
	64,676		Public Storage, Inc		17,840
	348,373		Pulte Homes, Inc		6,518
	25,249	*	Qiagen NV		561
	18,578	*	Qorvo, Inc		937
	724,351		Qualcomm, Inc		37,043
	28,643	*	Quanta Services, Inc		646
	61,851		Quest Diagnostics, Inc		4,419
	17,092	*	Quintiles Transnational Holdings, Inc		1,113
	19,687		Ralph Lauren Corp		1,895
	43,854	e	Range Resources Corp		1,420
	19,821		Raymond James Financial, Inc		944
	396,774		Raytheon Co		48,656
	502,807	*	Realogy Holdings Corp		18,156
	77,595		Realty Income Corp		4,850
	34,556	*	Red Hat, Inc		2,575
	31,300		Regency Centers Corp		2,343
	23,513	*	Regeneron Pharmaceuticals, Inc		8,475
	241,306		Regions Financial Corp		1,894
	60,000		Reinsurance Group of America, Inc (Class A)		5,775
	101,031		Republic Services, Inc		4,814
	44,620		Resmed, Inc		2,580
	311,689		Reynolds American, Inc		15,681
	136,525	*	Rite Aid Corp		1,113
	29,323		Robert Half International, Inc		1,366
	29,726		Rockwell Automation, Inc		3,381
	29,121		Rockwell Collins, Inc		2,685
	64,340		Roper Industries, Inc		11,759
	109,612		Ross Stores, Inc		6,347
	73,513		Royal Caribbean Cruises Ltd		6,039
	192,853	*	RSP Permian, Inc		5,600
	47,203		Sabre Corp		1,365
	761,857	*	Salesforce.com, Inc		56,248
	62,488		SanDisk Corp		4,754
	200,000	*	Sanmina Corp		4,676
	34,424	*	SBA Communications Corp (Class A)		3,448
	52,449		SCANA Corp		3,679
	791,707		Schlumberger Ltd		58,388
	31,162		Scripps Networks Interactive (Class A)		2,041
	72,317	e	Seagate Technology, Inc		2,491
	111,667		Sealed Air Corp		5,361
	49,365		SEI Investments Co		2,125
	131,623		Sempra Energy		13,695
	33,140	*	Sensata Technologies Holding BV		1,287
	146,100	*	ServiceMaster Global Holdings, Inc		5,505
	212,667	*	ServiceNow, Inc		13,011
	32,044		Sherwin-Williams Co		9,122
	30,869	*	Signature Bank		4,202
	18,568		Signet Jewelers Ltd		2,303
	242,008		Simon Property Group, Inc		50,263

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	371,834	e	Sirius XM Holdings, Inc	$	1,469
	75,900	*	Skechers U.S.A., Inc (Class A)		2,311
	135,314		Skyworks Solutions, Inc		10,541
	22,520		SL Green Realty Corp		2,182
	35,330		Snap-On, Inc		5,546
	6,475		Snyder’s-Lance, Inc		204
	174,279		Southern Co		9,015
	340,604		Southwest Airlines Co		15,259
	131,048	*,e	Southwestern Energy Co		1,058
	183,297		Spectra Energy Corp		5,609
	128,400	*	Spirit Aerosystems Holdings, Inc (Class A)		5,824
	29,601	*	Splunk, Inc		1,448
	166,837	*,e	Sprint Corp		581
	75,956		St. Jude Medical, Inc		4,178
	231,032		Stanley Works		24,307
	311,654		Staples, Inc		3,438
	599,830		Starbucks Corp		35,810
	45,563		Starwood Hotels & Resorts Worldwide, Inc		3,801
	145,000	*	Starz-Liberty Capital		3,818
	53,567		State Street Corp		3,135
	220,000		Steel Dynamics, Inc		4,952
	49,073	*	Stericycle, Inc		6,193
	89,266		Stryker Corp		9,577
	614,551		SunTrust Banks, Inc		22,173
	500,000	*	Supervalu, Inc		2,880
	256,520	*	Surgical Care Affiliates, Inc		11,872
	280,663		Symantec Corp		5,159
	2,804,401	*	Synchrony Financial		80,374
	52,934	*	Synopsys, Inc		2,564
	641,854		Sysco Corp		29,994
	44,119		T Rowe Price Group, Inc		3,241
	13,246	*	Tableau Software, Inc		608
	270,972		Target Corp		22,296
	861	*	Taro Pharmaceutical Industries Ltd		123
	58,758		TD Ameritrade Holding Corp		1,853
	30,115		TECO Energy, Inc		829
	50,545		TEGNA, Inc		1,186
	134,698	*	Teradata Corp		3,534
	59,926	*,e	Tesla Motors, Inc		13,769
	52,142		Tesoro Corp		4,485
	242,841		Texas Instruments, Inc		13,944
	518,066		Textron, Inc		18,889
	123,080		Thermo Electron Corp		17,427
	93,417		Thomson Corp (Toronto)		3,785
	19,200		Tiffany & Co		1,409
	76,183		Time Warner Cable, Inc		15,589
	730,222		Time Warner, Inc		52,978
	370,548		TJX Companies, Inc		29,032
	189,112	*	T-Mobile US, Inc		7,243
	28,291	*	Toll Brothers, Inc		835
	47,053		Torchmark Corp		2,548
	50,077		Total System Services, Inc		2,383

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	32,210		Tractor Supply Co	$	2,914
	19,203	*	TransDigm Group, Inc		4,231
	16,991		Transocean Ltd		149
	51,333		Travelers Cos, Inc		5,991
	68,012	*	Trimble Navigation Ltd		1,687
	16,116	*	TripAdvisor, Inc		1,072
	175,415		Twenty-First Century Fox, Inc		4,891
	73,306		Twenty-First Century Fox, Inc (Class B)		2,067
	97,865	*	Twitter, Inc		1,620
	737,149		Tyco International plc		27,061
	149,668		Tyson Foods, Inc (Class A)		9,977
	82,208		UDR, Inc		3,167
	24,810		Ulta Salon Cosmetics & Fragrance, Inc		4,807
	47,831	*,e	Under Armour, Inc (Class A)		4,058
	739,802		Union Pacific Corp		58,851
	103,645		United Continental Holdings, Inc		6,204
	282,678		United Parcel Service, Inc (Class B)		29,814
	151,002	*	United Rentals, Inc		9,391
	118,088		United Technologies Corp		11,821
	46,292	*	United Therapeutics Corp		5,158
	751,220		UnitedHealth Group, Inc		96,832
	30,316		Universal Health Services, Inc (Class B)		3,781
	43,700		UnumProvident Corp		1,351
	285,104		US Bancorp		11,572
	115,678		Valeant Pharmaceuticals International, Inc		3,033
	174,216		Valero Energy Corp		11,174
	65,000		Validus Holdings Ltd		3,067
	50,000	e	Vanguard FTSE Developed Markets ETF		1,793
	66,282	*	Vantiv, Inc		3,571
	25,917	*	Varian Medical Systems, Inc		2,074
	86,258		Ventas, Inc		5,431
	112,571		VEREIT, Inc		999
	90,000	*	Verint Systems, Inc		3,004
	31,809	e	VeriSign, Inc		2,816
	34,680	*	Verisk Analytics, Inc		2,772
	1,385,642		Verizon Communications, Inc		74,935
	128,953	*	Vertex Pharmaceuticals, Inc		10,250
	239,786		VF Corp		15,529
	403,653		Viacom, Inc (Class B)		16,663
	1,502,717		Visa, Inc (Class A)		114,928
	141,390	*,e	VMware, Inc (Class A)		7,396
	62,844		Vornado Realty Trust		5,934
	104,293		Voya Financial, Inc		3,105
	52,971		Vulcan Materials Co		5,592
	119,133		W.R. Berkley Corp		6,695
	17,731	e	W.W. Grainger, Inc		4,139
	94,137	*	WABCO Holdings, Inc		10,065
	219,815		Walgreens Boots Alliance, Inc		18,517
	324,328		Wal-Mart Stores, Inc		22,213
	657,459		Walt Disney Co		65,292
	28,655		Waste Connections, Inc		1,851
	101,089		Waste Management, Inc		5,964

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

								VALUE
SHARES			COMPANY					(000)
	40,881	*	Waters Corp					$	5,393
	114,102	*	Weatherford International Ltd						888
	107,743		WEC Energy Group, Inc						6,472
	3,687,176		Wells Fargo & Co						178,312
	52,182		Welltower, Inc						3,618
	121,000	e	Western Digital Corp						5,716
	140,443		Western Union Co						2,709
	17,491		Westinghouse Air Brake Technologies Corp						1,387
	10,880		Westlake Chemical Corp						504
	51,187		WestRock Co						1,998
	145,236		Weyerhaeuser Co						4,499
	147,127		Whirlpool Corp						26,533
	176,630	*	WhiteWave Foods Co (Class A)						7,178
	26,108	*,e	Whiting Petroleum Corp						208
	111,820		Whole Foods Market, Inc						3,479
	101,582		Williams Cos, Inc						1,632
	16,728		Willis Towers Watson plc						1,985
	96,628	*,e	Workday, Inc						7,425
	55,554	*	WR Grace & Co						3,954
	60,929		Wyndham Worldwide Corp						4,657
	13,359	e	Wynn Resorts Ltd						1,248
	204,991		Xcel Energy, Inc						8,573
	723,920		Xerox Corp						8,079
	462,921		Xilinx, Inc						21,956
	27,708		Xylem, Inc						1,133
	749,087	*	Yahoo!, Inc						27,574
	72,128		Yum! Brands, Inc						5,904
	12,471	*,e	Zillow Group, Inc (Class C)						296
	193,418		Zimmer Holdings, Inc						20,624
	387,068		Zoetis Inc						17,159
			TOTAL UNITED STATES						10,490,707
			TOTAL COMMON STOCKS						17,902,550
			(Cost $17,082,996)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	681,005	m	BGP Holdings plc						0
			TOTAL AUSTRALIA						0
UNITED STATES - 0.0%
	21,280		Kinder Morgan, Inc						1
			TOTAL UNITED STATES						1
			TOTAL RIGHTS / WARRANTS						1
			(Cost $41)
							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 3.4%
GOVERNMENT AGENCY DEBT - 0.5%
$	20,000,000	d	Federal Home Loan Bank (FHLB)		0.290	%	04/25/16		19,997

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	25,000,000	d	FHLB		0.366	%	05/13/16	$	24,993
	31,050,000	d	Federal Home Loan Mortgage Corp (FHLMC)		0.280		04/06/16		31,049
	15,000,000	d	Federal National Mortgage Association (FNMA)		0.612		06/08/16		14,991
			TOTAL GOVERNMENT AGENCY DEBT						91,030
TREASURY DEBT - 0.3%
	16,500,000	d	United States Treasury Bill		0.240-0.247		04/14/16		16,499
	30,800,000		United States Treasury Bill		0.233		04/21/16		30,798
	8,500,000	d	United States Treasury Bill		0.371		09/29/16		8,484
			TOTAL TREASURY DEBT						55,781
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.6%
CERTIFICATE OF DEPOSIT - 0.2%
	22,000,000		Deutsche Bank (Cayman) Ltd		0.390		04/01/16		22,000
	20,000,000		National Australia Bank Ltd		0.220		04/01/16		20,000
			TOTAL CERTIFICATE OF DEPOSIT						42,000
REPURCHASE AGREEMENT - 2.2%
	63,000,000	p	Barclays		0.500		04/01/16		63,000
	45,000,000	q	Calyon		0.300		04/01/16		45,000
	40,000,000	r	Calyon		0.290		04/01/16		40,000
	35,000,000	s	Deutsche Bank		0.320		04/01/16		35,000
	40,000,000	t	HSBC		0.270		04/01/16		40,000
	14,000,000	u	Merrill Lynch		0.280		04/01/16		14,000
	40,000,000	v	Nomura		0.320		04/01/16		40,000
	65,000,000	w	Royal Bank of Scotland		0.310		04/05/16		65,000
	58,000,000	x	Societe Generale		0.320		04/01/16		58,000
			TOTAL REPURCHASE AGREEMENT						400,000
VARIABLE RATE SECURITIES - 0.2%
	25,021,727	i	SLM Student Loan Trust 2007		0.659		01/25/19		24,828
			TOTAL VARIABLE RATE SECURITIES						24,828
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						466,828
			TOTAL SHORT-TERM INVESTMENTS						613,639
			(Cost $613,786)
			TOTAL INVESTMENTS - 102.3%						18,516,190
			(Cost $17,696,823)
			OTHER ASSETS & LIABILITIES, NET - (2.3)%						(420,235	)
			NET ASSETS - 100.0%					$	18,095,955

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

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

*	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 $449,971,000.
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 3/31/16, the aggregate value of these securities was $102,153,000, or 0.6% 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.
p	Agreement with Barclays, 0.50% dated 3/31/16 to be repurchased at $63,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $64,260,000.
q	Agreement with Calyon, 0.30% dated 3/31/16 to be repurchased at $45,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $45,900,000.
r	Agreement with Calyon, 0.29% dated 3/31/16 to be repurchased at $40,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $40,800,000.
s	Agreement with Deutsche Bank, 0.32% dated 3/31/16 to be repurchased at $35,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $35,700,000.
t	Agreement with HSBC, 0.27% dated 3/31/16 to be repurchased at $40,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $40,802,000.
u	Agreement with Merrill Lynch, 0.28% dated 3/31/16 to be repurchased at $14,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $14,280,000.
v	Agreement with Nomura, 0.32% dated 3/31/16 to be repurchased at $40,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $40,800,000.
w	Agreement with Royal Bank of Scotland, 0.31% dated 3/29/16 to be repurchased at $65,000,000 on 4/05/16, collateralized by U.S. Government Agency Securities valued at $66,303,000.
x	Agreement with Societe Generale, 0.32% dated 3/31/16 to be repurchased at $58,000,000 on 4/01/16, collateralized by U.S. Government Agency Securities valued at $59,160,000.
	Cost amounts are in thousands.

231

COLLEGE EQUITIES RETIREMENT ACCOUNT - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

March 31, 2016

	VALUE			% OF
SECTOR	(000)			ASSETS
FINANCIALS	$	3,289,275			18.2	%
CONSUMER DISCRETIONARY		2,829,131			15.6
INFORMATION TECHNOLOGY		2,775,429			15.3
HEALTH CARE		2,452,155			13.6
INDUSTRIALS		2,042,499			11.3
CONSUMER STAPLES		1,753,024			9.7
ENERGY		1,148,180			6.3
MATERIALS		741,360			4.1
TELECOMMUNICATION SERVICES		450,900			2.5
UTILITIES		420,598			2.3
SHORT-TERM INVESTMENTS		613,639			3.4
OTHER ASSETS & LIABILITES, NET		(420,235	)		(2.3	)
NET ASSETS	$	18,095,955			100.0	%

232

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND

GROWTH ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2016

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.2%
AUTOMOBILES & COMPONENTS - 1.5%
	78,429		BorgWarner, Inc	$	3,012
	1,647,656		Delphi Automotive plc		123,607
	48,034		Gentex Corp		753
	453,300		Goodyear Tire & Rubber Co		14,950
	37,470	e	Harley-Davidson, Inc		1,923
	51,466		Johnson Controls, Inc		2,005
	539,974		Lear Corp		60,029
	440,800		Magna International, Inc (Class A)		18,937
	333,898	*,e	Tesla Motors, Inc		76,720
	101,409		Thor Industries, Inc		6,467
	82,708		Visteon Corp		6,583
			TOTAL AUTOMOBILES & COMPONENTS		314,986
BANKS - 0.2%
	15,893	*	Signature Bank		2,164
	50,536	*	SVB Financial Group		5,157
	715,100		Wells Fargo & Co		34,582
			TOTAL BANKS		41,903
CAPITAL GOODS - 6.0%
	1,061,618		3M Co		176,897
	26,587		A.O. Smith Corp		2,029
	30,720		Acuity Brands, Inc		6,701
	221,944	*	Aecom Technology Corp		6,834
	2,236		Air Lease Corp		72
	34,309		Allegion plc		2,186
	410,498		Allison Transmission Holdings, Inc		11,075
	197,629		Ametek, Inc		9,878
	8,207	*	Armstrong World Industries, Inc		397
	4,379	*	Babcock & Wilcox Enterprises, Inc		94
	35,894		BE Aerospace, Inc		1,655
	712,527		Boeing Co		90,448
	160,846		BWX Technologies, Inc		5,398
	32,065		Carlisle Cos, Inc		3,190
	37,754		Caterpillar, Inc		2,890
	270,900		Chicago Bridge & Iron Co NV		9,912
	43,908		Cummins, Inc		4,827
	94,121		Danaher Corp		8,928
	20,217	e	Deere & Co		1,557
	43,665	e	Donaldson Co, Inc		1,393
	159,241		Emerson Electric Co		8,660
	100,797	e	Fastenal Co		4,939
	21,175		Flowserve Corp		940
	379,550		Fortune Brands Home & Security, Inc		21,270

233

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	209,585		General Dynamics Corp	$	27,533
	19,662		Graco, Inc		1,651
	319,556	*	HD Supply Holdings, Inc		10,568
	34,487		Hexcel Corp		1,507
	1,942,065		Honeywell International, Inc		217,608
	63,711		Hubbell, Inc		6,749
	217,947		Huntington Ingalls		29,846
	24,206		IDEX Corp		2,006
	103,721		Illinois Tool Works, Inc		10,625
	419,522		Ingersoll-Rand plc		26,015
	14,482		Lennox International, Inc		1,958
	23,261		Lincoln Electric Holdings, Inc		1,362
	191,403		Lockheed Martin Corp		42,396
	945,768		Masco Corp		29,744
	238,133	*	Middleby Corp		25,425
	93,188		MSC Industrial Direct Co (Class A)		7,111
	19,118		Nordson Corp		1,454
	664,429		Northrop Grumman Corp		131,491
	351,100		Owens Corning, Inc		16,600
	110,770		Paccar, Inc		6,058
	22,515		Parker Hannifin Corp		2,501
	6,716	*	Quanta Services, Inc		152
	407,518		Raytheon Co		49,974
	977		Regal-Beloit Corp		62
	72,779		Rockwell Automation, Inc		8,279
	237,821		Rockwell Collins, Inc		21,929
	477,055		Roper Industries, Inc		87,191
	103,255		Snap-On, Inc		16,210
	21,488	*,e	SolarCity Corp		528
	542,457	*	Spirit Aerosystems Holdings, Inc (Class A)		24,606
	29,208		Stanley Works		3,073
	758,921		Textron, Inc		27,670
	25,715		Toro Co		2,215
	82,580	*,e	TransDigm Group, Inc		18,196
	31,042	*	United Rentals, Inc		1,931
	26,571		United Technologies Corp		2,660
	192,282	*	Univar, Inc		3,303
	495,051	*	USG Corp		12,282
	523		Valmont Industries, Inc		65
	21,496	e	W.W. Grainger, Inc		5,018
	18,446	*	WABCO Holdings, Inc		1,972
	60,371		Watsco, Inc		8,134
	33,320		Westinghouse Air Brake Technologies Corp		2,642
			TOTAL CAPITAL GOODS		1,280,470
COMMERCIAL & PROFESSIONAL SERVICES - 2.0%
	30,853		Cintas Corp		2,771
	175,579	*	Clean Harbors, Inc		8,663
	649,228	e	CNH Industrial NV (NYSE)		4,389
	40,512	*	Copart, Inc		1,652
	40,603		Covanta Holding Corp		684
	75,487		Dun & Bradstreet Corp		7,781

234

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	83,324		Equifax, Inc	$	9,523
	96,228	*	IHS, Inc (Class A)		11,948
	73,938		KAR Auction Services, Inc		2,820
	192,100		Manpower, Inc		15,641
	2,338,900		Nielsen NV		123,167
	27,122		Pitney Bowes, Inc		584
	374,459		R.R. Donnelley & Sons Co		6,141
	275,368		Robert Half International, Inc		12,827
	31,761		Rollins, Inc		861
	572,438	*	Stericycle, Inc		72,236
	100,146	*	TransUnion		2,765
	128,668		Tyco International plc		4,723
	1,858,921	*	Verisk Analytics, Inc		148,565
	12,098		Waste Management, Inc		714
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		438,455
CONSUMER DURABLES & APPAREL - 2.4%
	180,678		Brunswick Corp		8,669
	72,993		Carter’s, Inc		7,692
	15,296		Coach, Inc		613
	352,983		DR Horton, Inc		10,671
	10,405	*,e	Fossil Group, Inc		462
	34,389	*,e	GoPro, Inc		411
	704,374		Hanesbrands, Inc		19,962
	24,413		Harman International Industries, Inc		2,174
	97,798		Hasbro, Inc		7,834
	73,614	*	Jarden Corp		4,340
	42,092	*	Kate Spade & Co		1,074
	47,212		Leggett & Platt, Inc		2,285
	1,565		Lennar Corp (B Shares)		61
	24,006	e	Lennar Corp (Class A)		1,161
	38,371	*,e	Lululemon Athletica, Inc		2,598
	919,194		Mattel, Inc		30,903
	445,314	*	Michael Kors Holdings Ltd		25,365
	15,505	*	Mohawk Industries, Inc		2,960
	297,408	e	Newell Rubbermaid, Inc		13,172
	3,203,695		Nike, Inc (Class B)		196,931
	23,486	*	NVR, Inc		40,687
	22,844	e	Polaris Industries, Inc		2,250
	1,210,600		Pulte Homes, Inc		22,650
	120,927		Ralph Lauren Corp		11,640
	271,130	*	Skechers U.S.A., Inc (Class A)		8,256
	940,800		Sony Corp		24,189
	390,218	*	Tempur-Pedic International, Inc		23,721
	19,114	*	Toll Brothers, Inc		564
	1,040,900	*	TomTom NV		10,140
	12,932	*	TopBuild Corp		385
	16,864	e	Tupperware Corp		978
	61,373	*,e	Under Armour, Inc (Class A)		5,206
	117,539		VF Corp		7,612
	1,470	*	Vista Outdoor, Inc		76
	99,161		Whirlpool Corp		17,883
			TOTAL CONSUMER DURABLES & APPAREL		515,575

235

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
CONSUMER SERVICES - 4.9%
	2,068,724		ARAMARK Holdings Corp	$	68,516
	339,938		Brinker International, Inc		15,620
	181,705	*	Chipotle Mexican Grill, Inc (Class A)		85,578
	12,467		Choice Hotels International, Inc		674
	8,671		Darden Restaurants, Inc		575
	22,630		Domino’s Pizza, Inc		2,984
	34,435	e	Dunkin Brands Group, Inc		1,624
	1,182,040		Extended Stay America, Inc		19,267
	75,312	e	H&R Block, Inc		1,990
	181,325		Hilton Worldwide Holdings, Inc		4,083
	381,700	*,e	Hyatt Hotels Corp		18,890
	26,061		International Game Technology plc		476
	708,800	e	Interval Leisure Group, Inc		10,235
	126,662		Las Vegas Sands Corp		6,546
	67,821	e	Marriott International, Inc (Class A)		4,827
	628,836		McDonald’s Corp		79,032
	4,664,237	g	Merlin Entertainments plc		31,010
	8,043	*	MGM Resorts International		172
	4,174,838	*	Norwegian Cruise Line Holdings Ltd		230,827
	7,771	*	Panera Bread Co (Class A)		1,592
	618,711	e	Restaurant Brands International, Inc		24,025
	68,054		Service Corp International		1,680
	363,356	*	ServiceMaster Global Holdings, Inc		13,691
	23,865		Six Flags Entertainment Corp		1,324
	4,671,747		Starbucks Corp		278,903
	664,061		Starwood Hotels & Resorts Worldwide, Inc		55,403
	274,538		Wyndham Worldwide Corp		20,983
	197,758	e	Wynn Resorts Ltd		18,477
	681,970		Yum! Brands, Inc		55,819
			TOTAL CONSUMER SERVICES		1,054,823
DIVERSIFIED FINANCIALS - 2.3%
	18,958	*	Affiliated Managers Group, Inc		3,079
	14,657	*	Ally Financial, Inc		274
	57,939		American Express Co		3,557
	400,272		Ameriprise Financial, Inc		37,630
	11,184		Artisan Partners Asset Management, Inc		345
	43,755		Bank of New York Mellon Corp		1,612
	13,904		BlackRock, Inc		4,735
	630,100		Blackstone Group LP		17,674
	27,991		CBOE Holdings, Inc		1,829
	1,544,557		Charles Schwab Corp		43,278
	53,441	*,e	Credit Acceptance Corp		9,702
	41,868		Eaton Vance Corp		1,403
	14,248		Factset Research Systems, Inc		2,159
	33,263		Federated Investors, Inc (Class B)		960
	2,060		Interactive Brokers Group, Inc (Class A)		81
	210,069		IntercontinentalExchange Group, Inc		49,396
	22,146		Invesco Ltd		681

236

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	709,500	e	iShares Russell 1000 Growth Index Fund	$	70,794
	374,080		Lazard Ltd (Class A)		14,514
	9,522		Legg Mason, Inc		330
	15,338	*,e	LendingClub Corp		127
	11,696		Leucadia National Corp		189
	26,725	e	LPL Financial Holdings, Inc		663
	1,109,779		McGraw-Hill Financial, Inc		109,846
	61,235		Moody’s Corp		5,913
	6,562		Morningstar, Inc		579
	181,779		MSCI, Inc (Class A)		13,466
	307,367		NorthStar Asset Management Group, Inc		3,489
	2,046		Santander Consumer USA Holdings, Inc		21
	49,752		SEI Investments Co		2,142
	133,000	*	SLM Corp		846
	2,941,860	*	Synchrony Financial		84,314
	89,596		T Rowe Price Group, Inc		6,582
	81,311		TD Ameritrade Holding Corp		2,564
	24,667		Waddell & Reed Financial, Inc (Class A)		581
			TOTAL DIVERSIFIED FINANCIALS		495,355
ENERGY - 0.6%
	161,002		Cabot Oil & Gas Corp		3,656
	249,500	*	Concho Resources, Inc		25,209
	8,416	*,e	Continental Resources, Inc		256
	114,718	e	CVR Energy, Inc		2,994
	624,933		EOG Resources, Inc		45,358
	50,325	*	FMC Technologies, Inc		1,377
	9,122		HollyFrontier Corp		322
	14,080		Marathon Petroleum Corp		523
	26,668	*	Memorial Resource Development Corp		271
	61,655		Oceaneering International, Inc		2,049
	32,121	e	Oneok, Inc		959
	117,200		Pioneer Natural Resources Co		16,495
	1,882	e	Range Resources Corp		61
	318,654	e	RPC, Inc		4,519
	55,273		Schlumberger Ltd		4,076
	210,945		Targa Resources Investments, Inc		6,299
	805	e	Teekay Corp		7
	56,657		Tesoro Corp		4,873
	257,107		Williams Cos, Inc		4,132
	47,274		World Fuel Services Corp		2,297
			TOTAL ENERGY		125,733
FOOD & STAPLES RETAILING - 2.0%
	930,382		Costco Wholesale Corp		146,609
	1,390,196		CVS Health Corp		144,205
	2,673,555		Kroger Co		102,264
	198,137	*	Rite Aid Corp		1,615
	87,054	*	Sprouts Farmers Market, Inc		2,528
	63,942		Sysco Corp		2,988
	191,135		Walgreens Boots Alliance, Inc		16,101
	104,511		Whole Foods Market, Inc		3,251
			TOTAL FOOD & STAPLES RETAILING		419,561

237

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
FOOD, BEVERAGE & TOBACCO - 5.1%
	2,182,796		Altria Group, Inc	$	136,774
	435,000		Associated British Foods plc		20,870
	10,042	*,e	Blue Buffalo Pet Products, Inc		258
	8,587	e	Brown-Forman Corp		916
	88,913		Brown-Forman Corp (Class B)		8,755
	35,097		Campbell Soup Co		2,239
	3,394,796		Coca-Cola Co		157,485
	315,451		Coca-Cola Enterprises, Inc		16,006
	19,241		ConAgra Foods, Inc		859
	56,305		Constellation Brands, Inc (Class A)		8,507
	489,533		Dr Pepper Snapple Group, Inc		43,774
	54,369		Flowers Foods, Inc		1,004
	505,045		General Mills, Inc		31,995
	149,039	*	Hain Celestial Group, Inc		6,097
	175,953		Hershey Co		16,203
	150,321		Hormel Foods Corp		6,500
	232,406		Ingredion, Inc		24,819
	77,473		Kellogg Co		5,931
	256,769		Kraft Heinz Co		20,172
	44,391		McCormick & Co, Inc		4,416
	218,106		Mead Johnson Nutrition Co		18,532
	850,738		Molson Coors Brewing Co (Class B)		81,824
	1,451,052	*	Monster Beverage Corp		193,541
	991,343		PepsiCo, Inc		101,593
	566,808		Philip Morris International, Inc		55,610
	2,837	*	Pilgrim’s Pride Corp		72
	678,606		Pinnacle Foods, Inc		30,320
	1,204,060		Reynolds American, Inc		60,576
	635,233		Suntory Beverage & Food Ltd		28,577
	42,880		Tyson Foods, Inc (Class A)		2,858
	325,626	*	WhiteWave Foods Co (Class A)		13,233
			TOTAL FOOD, BEVERAGE & TOBACCO		1,100,316
HEALTH CARE EQUIPMENT & SERVICES - 4.8%
	21,520	*	Acadia Healthcare Co, Inc		1,186
	431,842		Aetna Inc		48,517
	18,559	*	Alere, Inc		939
	28,846	*	Align Technology, Inc		2,097
	23,135	*	Allscripts Healthcare Solutions, Inc		306
	423,392		AmerisourceBergen Corp		36,645
	368,230		Anthem, Inc		51,180
	13,054	*,e	athenahealth, Inc		1,812
	25,394		Bard (C.R.), Inc		5,147
	130,717		Baxter International, Inc		5,370
	146,810		Becton Dickinson & Co		22,289
	37,271	*	Boston Scientific Corp		701
	15,825	*	Brookdale Senior Living, Inc		251
	417,447		Cardinal Health, Inc		34,210
	427,005	*	Centene Corp		26,291

238

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	1,996,624	*	Cerner Corp	$	105,741
	269,212		Cigna Corp		36,947
	11,110		Cooper Cos, Inc		1,711
	226,123	*	DaVita, Inc		16,593
	47,144		DENTSPLY SIRONA, Inc		2,905
	28,322	*	DexCom, Inc		1,923
	233,303	*	Edwards Lifesciences Corp		20,580
	64,922	*	Envision Healthcare Holdings, Inc		1,324
	1,039,067	*	Express Scripts Holding Co		71,374
	260,914		HCA Holdings, Inc		20,364
	362,800	e	Healthsouth Corp		13,652
	28,558	*	Henry Schein, Inc		4,930
	104,436		Hill-Rom Holdings, Inc		5,253
	589,398	*	Hologic, Inc		20,334
	47,860		Humana, Inc		8,756
	32,185	*	Idexx Laboratories, Inc		2,521
	47,016	*	IMS Health Holdings, Inc		1,248
	4,978	*,e	Inovalon Holdings, Inc		92
	228,973	*	Intuitive Surgical, Inc		137,624
	102,982	*	Laboratory Corp of America Holdings		12,062
	152,032	*	LifePoint Hospitals, Inc		10,528
	323,657		McKesson Corp		50,895
	19,322	*	MEDNAX, Inc		1,249
	585,591		Olympus Corp		22,735
	15,072		Patterson Cos, Inc		701
	741,164	*	Premier, Inc		24,725
	101,207		Resmed, Inc		5,852
	427,669		St. Jude Medical, Inc		23,522
	59,094		Stryker Corp		6,340
	35,115	*	Tenet Healthcare Corp		1,016
	878,857		UnitedHealth Group, Inc		113,285
	242,070		Universal Health Services, Inc (Class B)		30,191
	34,368	*	Varian Medical Systems, Inc		2,750
	27,748	*	VCA Antech, Inc		1,601
	25,320	*,e	Veeva Systems, Inc		634
	3,333		Zimmer Holdings, Inc		355
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,019,254
HOUSEHOLD & PERSONAL PRODUCTS - 1.1%
	45,470		Church & Dwight Co, Inc		4,191
	36,245		Clorox Co		4,569
	365,277		Colgate-Palmolive Co		25,807
	26,874	e	Coty, Inc		748
	1,950,897		Estee Lauder Cos (Class A)		183,989
	107,329	*,e	Herbalife Ltd		6,607
	113,596		Kimberly-Clark Corp		15,280
	5,064	e	Nu Skin Enterprises, Inc (Class A)		194
	8,333		Spectrum Brands, Inc		911
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		242,296
INSURANCE - 0.6%
	119,800		Allstate Corp		8,071

239

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	86,768		Amtrust Financial Services, Inc	$	2,246
	97,464		Aon plc		10,180
	33,260		Arthur J. Gallagher & Co		1,479
	41,658	*	Berkshire Hathaway, Inc (Class B)		5,910
	215,919		Chubb Ltd		25,727
	8,795		Erie Indemnity Co (Class A)		818
	9,878	*	Markel Corp		8,807
	418,324		Marsh & McLennan Cos, Inc		25,430
	458,300		Metlife, Inc		20,138
	145,900		Travelers Cos, Inc		17,028
			TOTAL INSURANCE		125,834
MATERIALS - 3.3%
	60,928		Air Products & Chemicals, Inc		8,777
	5,573		Airgas, Inc		789
	665,800		Albemarle Corp		42,565
	3,246		Aptargroup, Inc		255
	10,340		Ashland, Inc		1,137
	180,302		Avery Dennison Corp		13,002
	34,641	*	Axalta Coating Systems Ltd		1,011
	47,949		Ball Corp		3,418
	2,387		Bemis Co, Inc		124
	1,511,349	*	Berry Plastics Group, Inc		54,635
	4,475		Celanese Corp (Series A)		293
	81,371		CF Industries Holdings, Inc		2,550
	21,138		Chemours Co		148
	11,239	e	Compass Minerals International, Inc		796
	537,199	*	Crown Holdings, Inc		26,640
	369,233		Dow Chemical Co		18,779
	16,312		Eagle Materials, Inc		1,144
	53,841		Eastman Chemical Co		3,889
	103,749		Ecolab, Inc		11,570
	175,287		EI du Pont de Nemours & Co		11,099
	32,113	e	FMC Corp		1,296
	148,841	*	GCP Applied Technologies, Inc		2,968
	1,341,590		Graphic Packaging Holding Co		17,239
	45,846		Huntsman Corp		610
	28,003		International Flavors & Fragrances, Inc		3,186
	490,785		International Paper Co		20,142
	702,061		LyondellBasell Industries AF S.C.A		60,082
	3,245		Martin Marietta Materials, Inc		518
	1,336,130		Monsanto Co		117,232
	3,005		NewMarket Corp		1,191
	997,800		Olin Corp		17,332
	4,178	*	Owens-Illinois, Inc		67
	81,190		Packaging Corp of America		4,904
	65,943	*,e	Platform Specialty Products Corp		567
	1,436,910		PPG Industries, Inc		160,201
	86,181		Praxair, Inc		9,863
	1,413		Royal Gold, Inc		72
	47,660		RPM International, Inc		2,256
	13,726		Scotts Miracle-Gro Co (Class A)		999

240

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	207,236		Sealed Air Corp	$	9,949
	226,996		Sherwin-Williams Co		64,619
	12,897		Silgan Holdings, Inc		686
	15,351	e	Southern Copper Corp (NY)		425
	354,266		Steel Dynamics, Inc		7,975
	78,543	e	Tahoe Resources, Inc		788
	28,034		Valspar Corp		3,000
	7,148		Vulcan Materials Co		755
	6,748		WestRock Co		263
	24,647	*	WR Grace & Co		1,754
			TOTAL MATERIALS		713,560
MEDIA - 5.5%
	377,635	*	AMC Networks, Inc		24,524
	8,987		Cablevision Systems Corp (Class A)		297
	1,286,599		CBS Corp (Class B)		70,879
	25,782	*,e	Charter Communications, Inc		5,219
	41,368		Cinemark Holdings, Inc		1,482
	5,821	e	Clear Channel Outdoor Holdings, Inc (Class A)		27
	6,705,666		Comcast Corp (Class A)		409,582
	50,786	*,e	Discovery Communications, Inc (Class A)		1,454
	194,836	*	Discovery Communications, Inc (Class C)		5,261
	257,528		DISH Network Corp (Class A)		11,913
	1,476,170		Interpublic Group of Cos, Inc		33,878
	31,996	e	Lions Gate Entertainment Corp		699
	51,718	*	Live Nation, Inc		1,154
	47,091	*	Madison Square Garden Co		7,834
	24,066	*	MSG Networks, Inc		416
	84,607		Omnicom Group, Inc		7,042
	29,240	e	Regal Entertainment Group (Class A)		618
	274,315		Scripps Networks Interactive (Class A)		17,968
	765,083	e	Sirius XM Holdings, Inc		3,022
	369,796	*	Starz-Liberty Capital		9,737
	127,904		Time Warner Cable, Inc		26,172
	2,245,390		Time Warner, Inc		162,903
	434,325		Tribune Co		16,656
	354,769		Twenty-First Century Fox, Inc		9,891
	197,442		Twenty-First Century Fox, Inc (Class B)		5,568
	4,205		Viacom, Inc		190
	1,127,072		Viacom, Inc (Class B)		46,525
	2,982,035		Walt Disney Co		296,146
			TOTAL MEDIA		1,177,057
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 10.5%
	1,561,429		AbbVie, Inc		89,189
	8,300	*,e	Agios Pharmaceuticals, Inc		337
	28,504	*,e	Akorn, Inc		671
	700,761	*	Alexion Pharmaceuticals, Inc		97,560
	44,184	*	Alkermes plc		1,511
	1,161,218	*	Allergan plc		311,241
	21,766	*	Alnylam Pharmaceuticals, Inc		1,366
	775,043		Amgen, Inc		116,202

241

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	217,065		Baxalta, Inc	$	8,769
	422,211	*	Biogen Idec, Inc		109,910
	449,250	*	BioMarin Pharmaceutical, Inc		37,054
	5,213		Bio-Techne Corp		493
	11,698	*,e	Bluebird Bio, Inc		497
	2,212,510		Bristol-Myers Squibb Co		141,335
	197,899		Bruker BioSciences Corp		5,541
	3,255,594	*	Celgene Corp		325,853
	130,589	*	Charles River Laboratories International, Inc		9,917
	1,055,339		Eli Lilly & Co		75,995
	25,805	*	Endo International plc		726
	3,077,874		Gilead Sciences, Inc		282,734
	495,000	*	H Lundbeck AS		16,326
	585,602	*	Illumina, Inc		94,932
	54,350	*	Incyte Corp		3,939
	5,897	*,e	Intercept Pharmaceuticals, Inc		758
	16,872	*,e	Intrexon Corp		572
	40,360	*,e	Ionis Pharmaceuticals, Inc		1,635
	21,025	*	Jazz Pharmaceuticals plc		2,745
	1,031,211		Johnson & Johnson		111,577
	4,906	*,e	Juno Therapeutics, Inc		187
	16,164	*	Mallinckrodt plc		990
	64,597		Medivation, Inc		2,970
	111,540		Merck & Co, Inc		5,902
	9,672	*	Mettler-Toledo International, Inc		3,334
	669,003	*	Mylan NV		31,008
	356,900		Novo Nordisk AS		19,327
	103,089	*,e	Opko Health, Inc		1,071
	45,317		PerkinElmer, Inc		2,241
	9,686		Perrigo Co plc		1,239
	9,149	*	Puma Biotechnology, Inc		269
	173,688	*	Quintiles Transnational Holdings, Inc		11,307
	29,227	*	Regeneron Pharmaceuticals, Inc		10,535
	37,722	*,e	Seattle Genetics, Inc		1,324
	1,193,644		Teva Pharmaceutical Industries Ltd (ADR)		63,872
	614,723		Thermo Electron Corp		87,039
	16,500	*	United Therapeutics Corp		1,839
	195,428	*	Vertex Pharmaceuticals, Inc		15,534
	19,569	*	VWR Corp		529
	117,151	*	Waters Corp		15,454
	3,002,187		Zoetis Inc		133,087
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		2,258,443
REAL ESTATE - 1.5%
	338,273		American Tower Corp		34,629
	154,624		Boston Properties, Inc		19,650
	2,362,589	*	CBRE Group, Inc		68,090
	1,928		Columbia Property Trust, Inc		42
	121,723		Crown Castle International Corp		10,529
	28,692		Digital Realty Trust, Inc		2,539
	69,601		Empire State Realty Trust, Inc		1,220
	23,419		Equinix, Inc		7,745

242

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	63,463		Equity Lifestyle Properties, Inc	$	4,616
	128,666		Extra Space Storage, Inc		12,025
	23,734		Federal Realty Investment Trust		3,704
	4,690		Four Corners Property Trust, Inc		84
	5,048		Gaming and Leisure Properties, Inc		156
	8,505		Healthcare Trust of America, Inc		250
	4,805	*	Howard Hughes Corp		509
	29,435		Iron Mountain, Inc		998
	94,265		Jones Lang LaSalle, Inc		11,059
	28,959		Lamar Advertising Co		1,781
	17,149		Omega Healthcare Investors, Inc		605
	5,667		Post Properties, Inc		339
	113,548		Public Storage, Inc		31,320
	1,473,209	*	Realogy Holdings Corp		53,198
	211,173		Simon Property Group, Inc		43,858
	33,406		Tanger Factory Outlet Centers, Inc		1,216
	8,047		Taubman Centers, Inc		573
	55,082		Welltower, Inc		3,819
	56,229		Weyerhaeuser Co		1,742
			TOTAL REAL ESTATE		316,296
RETAILING - 9.2%
	3,946		Aaron’s, Inc		99
	30,036		Advance Auto Parts, Inc		4,816
	988,996	*	Amazon.com, Inc		587,107
	560,000	*	ASOS plc		26,101
	24,559	*,e	Autonation, Inc		1,146
	57,148	*	AutoZone, Inc		45,529
	59,417	*	Bed Bath & Beyond, Inc		2,950
	750,300		Best Buy Co, Inc		24,340
	1,973	*,e	Cabela’s, Inc		96
	1,198,060	*,e	Carmax, Inc		61,221
	20,556		CST Brands, Inc		787
	765,152	*,e	Ctrip.com International Ltd (ADR)		33,866
	252,565		Dick’s Sporting Goods, Inc		11,807
	56	e	Dillard’s, Inc (Class A)		5
	470,248		Dollar General Corp		40,253
	79,526	*	Dollar Tree, Inc		6,558
	1,810		DSW, Inc (Class A)		50
	1,231,011		Expedia, Inc		132,728
	68,932		Fast Retailing Co Ltd		22,026
	561,045	e	Foot Locker, Inc		36,187
	494,300	e	GameStop Corp (Class A)		15,684
	82,018		Gap, Inc		2,411
	59,320		Genuine Parts Co		5,894
	385,831		GNC Holdings, Inc		12,250
	4,145,972	*,e	Groupon, Inc		16,542
	2,804,131		Home Depot, Inc		374,155
	168,633		L Brands, Inc		14,808
	1,267,729	*	Liberty Interactive Corp		32,010
	47,703	*	Liberty Ventures		1,866
	324,820	*	LKQ Corp		10,372

243

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	1,087,807		Lowe’s Companies, Inc	$	82,401
	262,334		Macy’s, Inc		11,566
	21,737	*	Michaels Cos, Inc		608
	251,935	*	Murphy USA, Inc		15,481
	602,041	*	NetFlix, Inc		61,547
	43,827	e	Nordstrom, Inc		2,507
	25,813	*	Office Depot, Inc		183
	133,621	*	O’Reilly Automotive, Inc		36,567
	6,567		Penske Auto Group, Inc		249
	49,804	*	Priceline.com, Inc		64,195
	313,598		Ross Stores, Inc		18,157
	49,119	*	Sally Beauty Holdings, Inc		1,591
	566	*,e	Sears Holdings Corp		9
	120,420		Signet Jewelers Ltd		14,936
	394,049		Target Corp		32,422
	150,547		Tiffany & Co		11,047
	882,791		TJX Companies, Inc		69,167
	47,490		Tractor Supply Co		4,296
	38,464	*	TripAdvisor, Inc		2,558
	87,489		Ulta Salon Cosmetics & Fragrance, Inc		16,950
	359,915	*	Urban Outfitters, Inc		11,910
	30,976		Williams-Sonoma, Inc		1,696
			TOTAL RETAILING		1,983,707
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.7%
	98,990		Analog Devices, Inc		5,859
	1,333,132		Applied Materials, Inc		28,236
	1,358,573	e	ARM Holdings plc (ADR)		59,356
	147,751		Atmel Corp		1,200
	809,700		Broadcom Ltd		125,099
	462,062		Intel Corp		14,948
	56,333		Kla-Tencor Corp		4,101
	179,758		Lam Research Corp		14,848
	240,773		Linear Technology Corp		10,729
	34,641		Maxim Integrated Products, Inc		1,274
	72,808	e	Microchip Technology, Inc		3,509
	29,590	*	Micron Technology, Inc		310
	200,000	*	NXP Semiconductors NV		16,214
	858,683	*	ON Semiconductor Corp		8,235
	131,504	*	Qorvo, Inc		6,629
	65,669		Skyworks Solutions, Inc		5,116
	1,815	*,e	SunPower Corp		40
	672,600		Texas Instruments, Inc		38,621
	201,631		Xilinx, Inc		9,563
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		353,887
SOFTWARE & SERVICES - 24.4%
	637,554		Accenture plc		73,574
	1,815,818		Activision Blizzard, Inc		61,447
	3,561,951	*	Adobe Systems, Inc		334,111
	62,008	*	Akamai Technologies, Inc		3,446
	256,684	*	Alibaba Group Holding Ltd (ADR)		20,286

244

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	49,335	*	Alliance Data Systems Corp	$	10,854
	506,070	*	Alphabet, Inc (Class A)		386,081
	870,005	*	Alphabet, Inc (Class C)		648,110
	356,691		Amdocs Ltd		21,551
	5,841	*	Ansys, Inc		523
	6,981	*	Atlassian Corp plc		176
	458,759	*	Autodesk, Inc		26,750
	741,053		Automatic Data Processing, Inc		66,480
	7,468	*,e	Black Knight Financial Services, Inc		232
	33,662		Booz Allen Hamilton Holding Co		1,019
	41,115		Broadridge Financial Solutions, Inc		2,438
	347,707	*	Cadence Design Systems, Inc		8,199
	54,770		CDK Global, Inc		2,550
	239,800	*,e	Check Point Software Technologies		20,975
	478,000	*,e	Cimpress NV		43,350
	274,163	*	Citrix Systems, Inc		21,544
	491,392	*	Cognizant Technology Solutions Corp (Class A)		30,810
	211,100		Computer Sciences Corp		7,260
	11,602	*	CoStar Group, Inc		2,183
	211,100		CSRA, Inc		5,679
	114,892		DST Systems, Inc		12,956
	2,908,033	*	eBay, Inc		69,386
	241,628	*	Electronic Arts, Inc		15,974
	5,182,352	*	Facebook, Inc		591,307
	42,038		Fidelity National Information Services, Inc		2,661
	49,103	*,e	FireEye, Inc		883
	484,061	*	First American Corp		16,797
	47,139	*	First Data Corp		610
	77,237	*	Fiserv, Inc		7,923
	217,386	*	FleetCor Technologies, Inc		32,336
	228,500	*	Fortinet, Inc		6,999
	28,507		Gartner, Inc		2,547
	148,240	*	Genpact Ltd		4,031
	573,483		Global Payments, Inc		37,448
	9,708	*,e	GoDaddy, Inc		314
	1,000,000	*	GrubHub, Inc		25,130
	26,235		IAC/InterActiveCorp		1,235
	518,125		International Business Machines Corp		78,470
	3,734,421		Intuit, Inc		388,417
	28,015		Jack Henry & Associates, Inc		2,369
	133,460		Leidos Holdings, Inc		6,716
	38,220	*	LinkedIn Corp		4,370
	3,472,405		Mastercard, Inc (Class A)		328,142
	12,040	*,e	Match Group, Inc		133
	10,040,393		Microsoft Corp		554,531
	447,162	*,e	Mobileye NV		16,675
	94,500		Netease.com (ADR)		13,568
	14,310	*,e	NetSuite, Inc		980
	2,919,293		Oracle Corp		119,428
	71,941	*,e	Pandora Media, Inc		644
	97,072		Paychex, Inc		5,243
	3,186,153	*	PayPal Holdings, Inc		122,986

245

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	58,934	*	PTC, Inc	$	1,954
	63,387	*	Rackspace Hosting, Inc		1,368
	1,069,066	*	Red Hat, Inc		79,656
	334,496		Sabre Corp		9,674
	3,322,512	*	Salesforce.com, Inc		245,301
	425,000	*,g	Scout24 AG.		14,708
	322,362	*	ServiceNow, Inc		19,722
	42,780	*	Splunk, Inc		2,093
	10,078	*,e	Square, Inc		154
	26,032		SS&C Technologies Holdings, Inc		1,651
	2,798	*	Synopsys, Inc		136
	17,213	*	Tableau Software, Inc		790
	850,000		Tencent Holdings Ltd		17,378
	35,821	*	Teradata Corp		940
	110,449		Total System Services, Inc		5,255
	196,218	*,e	Twitter, Inc		3,247
	10,013	*	Ultimate Software Group, Inc		1,937
	155,398	*	Vantiv, Inc		8,373
	40,827	*	VeriFone Systems, Inc		1,153
	33,708	e	VeriSign, Inc		2,984
	6,154,914		Visa, Inc (Class A)		470,728
	29,107	*,e	VMware, Inc (Class A)		1,523
	178,698		Western Union Co		3,447
	75,098	*	WEX, Inc		6,260
	36,565	*,e	Workday, Inc		2,810
	1,871,767	*	Yahoo!, Inc		68,900
	22,824	*	Yelp, Inc		454
	10,822	*,e	Zillow Group, Inc		276
	17,397	*,e	Zillow Group, Inc (Class C)		413
			TOTAL SOFTWARE & SERVICES		5,244,122
TECHNOLOGY HARDWARE & EQUIPMENT - 5.3%
	9,374	*,e	3D Systems Corp		145
	106,737		Amphenol Corp (Class A)		6,172
	9,847,964	d	Apple, Inc		1,073,329
	12,230	*,e	Arista Networks, Inc		772
	23,387	*	ARRIS International plc		536
	154,118		CDW Corp		6,396
	30,458		Cognex Corp		1,186
	15,500	*	CommScope Holding Co, Inc		433
	56,815		EMC Corp		1,514
	126,778	*	F5 Networks, Inc		13,420
	30,910	*,e	Fitbit, Inc		468
	29,861		Flir Systems, Inc		984
	7,216		Harris Corp		562
	3,599		Ingram Micro, Inc (Class A)		129
	11,886	*,e	IPG Photonics Corp		1,142
	14,825		Jabil Circuit, Inc		286
	319,572		Juniper Networks, Inc		8,152
	119,793	*	Keysight Technologies, Inc		3,323
	105,064		Motorola, Inc		7,953
	6,806		National Instruments Corp		205

246

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	31,227		NetApp, Inc	$	852
	26,562	*	Palo Alto Networks, Inc		4,333
	79,652		Qualcomm, Inc		4,073
	5,428	*	Trimble Navigation Ltd		135
	175,300	e	Western Digital Corp		8,281
	18,081	*	Zebra Technologies Corp (Class A)		1,248
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,146,029
TELECOMMUNICATION SERVICES - 1.5%
	1,452,003		AT&T, Inc		56,875
	690,218	g	Cellnex Telecom SAU		11,004
	326,900		CenturyTel, Inc		10,448
	1,424,793	*	Level 3 Communications, Inc		75,300
	95,454	*	SBA Communications Corp (Class A)		9,562
	2,741,154		Verizon Communications, Inc		148,242
	42,466	*	Zayo Group Holdings, Inc		1,029
			TOTAL TELECOMMUNICATION SERVICES		312,460
TRANSPORTATION - 2.8%
	491,578		Alaska Air Group, Inc		40,319
	33,183		Amerco, Inc		11,857
	217,845		American Airlines Group, Inc		8,934
	263,433	*	Avis Budget Group, Inc		7,207
	179,668		CH Robinson Worldwide, Inc		13,337
	87,772		CSX Corp		2,260
	1,853,940		Delta Air Lines, Inc		90,250
	230,075		Expeditors International of Washington, Inc		11,230
	283,666		FedEx Corp		46,158
	126,840	*	Genesee & Wyoming, Inc (Class A)		7,953
	4,202,010	*	Hertz Global Holdings, Inc		44,247
	31,744		J.B. Hunt Transport Services, Inc		2,674
	39,152	*	JetBlue Airways Corp		827
	15,183		Landstar System, Inc		981
	23,557	*	Old Dominion Freight Line		1,640
	175,500		Ryanair Holdings plc (ADR)		15,061
	173,046		Ryder System, Inc		11,210
	1,160,796		Southwest Airlines Co		52,004
	331,196	*	Spirit Airlines, Inc		15,891
	1,697,451		Union Pacific Corp		135,032
	627,528		United Continental Holdings, Inc		37,564
	473,868		United Parcel Service, Inc (Class B)		49,979
			TOTAL TRANSPORTATION		606,615
UTILITIES - 0.0%
	17,767	*	Calpine Corp		269
	58,660		Dominion Resources, Inc		4,407
	20,533		ITC Holdings Corp		895
	11	e	TerraForm Power, Inc		0	^
			TOTAL UTILITIES		5,571
			TOTAL COMMON STOCKS		21,292,308
			(Cost $17,598,352)

247

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
SHORT-TERM INVESTMENTS - 2.4%
GOVERNMENT AGENCY DEBT - 0.1%
$	13,800,000	d	Federal Home Loan Mortgage Corp (FHLMC)		0.200	%	04/01/16	$	13,800
	10,000,000	d	Federal National Mortgage Association (FNMA)		0.612		06/08/16		9,994
			TOTAL GOVERNMENT AGENCY DEBT						23,794
TREASURY DEBT - 0.4%
	7,600,000		United States Treasury Bill		0.236		04/07/16		7,600
	14,500,000	d	United States Treasury Bill		0.233		04/21/16		14,499
	3,400,000	d	United States Treasury Bill		0.255		05/26/16		3,399
	20,000,000	d	United States Treasury Bill		0.451		06/30/16		19,989
	32,100,000	d	United States Treasury Bill		0.373		09/29/16		32,038
			TOTAL TREASURY DEBT						77,525
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.9%
	411,003,549	a,c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust						411,004
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						411,004
			TOTAL SHORT-TERM INVESTMENTS						512,323
			(Cost $512,306)
			TOTAL INVESTMENTS - 101.6%						21,804,631
			(Cost $18,110,658)
			OTHER ASSETS & LIABILITIES, NET - (1.6)%						(348,468	)
			NET ASSETS - 100.0%					$	21,456,163

	Abbreviation(s):
	ADR    American Depositary Receipt
*	Non-income producing
^	Amount represents less than $1,000.
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 $403,047,000.
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 3/31/16, the aggregate value of these securities was $56,722,000, or 0.3% of net assets.
	Cost amounts are in thousands.

248

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND
EQUITY INDEX ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2016

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.7%
AUTOMOBILES & COMPONENTS - 1.1%
	56,324	*	American Axle & Manufacturing Holdings, Inc	$	867
	167,583		BorgWarner, Inc		6,435
	42,817		Cooper Tire & Rubber Co		1,585
	10,380	*	Cooper-Standard Holding, Inc		746
	111,547		Dana Holding Corp		1,572
	212,071		Delphi Automotive plc		15,910
	20,030	*,e	Dorman Products, Inc		1,090
	17,932		Drew Industries, Inc		1,156
	21,876	*	Federal Mogul Corp (Class A)		216
	2,849,911		Ford Motor Co		38,474
	12,496	*	Fox Factory Holding Corp		197
	1,172,512		General Motors Co		36,852
	218,376		Gentex Corp		3,426
	26,543	*	Gentherm, Inc		1,104
	191,568		Goodyear Tire & Rubber Co		6,318
	143,476	e	Harley-Davidson, Inc		7,365
	13,693	*	Horizon Global Corp		172
	480,652		Johnson Controls, Inc		18,731
	55,720		Lear Corp		6,194
	6,649		Metaldyne Performance Group, Inc		112
	36,302	*	Modine Manufacturing Co		400
	13,147	*	Motorcar Parts of America, Inc		499
	15,087		Standard Motor Products, Inc		523
	20,247	*	Stoneridge, Inc		295
	2,693		Strattec Security Corp		154
	17,815		Superior Industries International, Inc		393
	40,207	*	Tenneco, Inc		2,071
	72,086	*,e	Tesla Motors, Inc		16,563
	33,978		Thor Industries, Inc		2,167
	15,398		Tower International, Inc		419
	33,034		Visteon Corp		2,629
	21,322	e	Winnebago Industries, Inc		479
			TOTAL AUTOMOBILES & COMPONENTS		175,114
BANKS - 5.5%
	12,604		1st Source Corp		401
	5,171		Access National Corp		103
	5,882		American National Bankshares, Inc		149
	23,589		Ameris Bancorp		698
	7,069	e	Ames National Corp		175
	5,633	*	Anchor BanCorp Wisconsin, Inc		254
	24,400		Apollo Residential Mortgage		327

249

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,490		Arrow Financial Corp	$	199
	112,856		Associated Banc-Corp		2,025
	66,701		Astoria Financial Corp		1,057
	25,515		Banc of California, Inc		447
	5,016		Bancfirst Corp		286
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		520
	72,389		Bancorpsouth, Inc		1,543
	41,404		Bank Mutual Corp		313
	7,702,419		Bank of America Corp		104,137
	32,426	e	Bank of Hawaii Corp		2,214
	3,864		Bank of Marin Bancorp		190
	57,827		Bank of the Ozarks, Inc		2,427
	15,980		BankFinancial Corp		189
	76,129		BankUnited		2,622
	15,583		Banner Corp		655
	4,570		Bar Harbor Bankshares		152
	569,437		BB&T Corp		18,945
	59,137		BBCN Bancorp, Inc		898
	9,956	*,e	Bear State Financial, Inc		92
	61,657	*	Beneficial Bancorp, Inc		844
	21,508		Berkshire Hills Bancorp, Inc		578
	20,549		Blue Hills Bancorp, Inc		281
	17,544		BNC Bancorp		371
	45,284	*,e	BofI Holding, Inc		966
	20,505	e	BOK Financial Corp		1,120
	59,217		Boston Private Financial Holdings, Inc		678
	8,872		Bridge Bancorp, Inc		270
	54,590		Brookline Bancorp, Inc		601
	12,987		Bryn Mawr Bank Corp		334
	6,346	*	BSB Bancorp, Inc		143
	4,588	*	C1 Financial, Inc		111
	5,527		Camden National Corp		232
	16,948		Capital Bank Financial Corp		523
	9,158		Capital City Bank Group, Inc		134
	105,428		Capitol Federal Financial		1,398
	22,480		Cardinal Financial Corp		457
	21,201	*	Cascade Bancorp		121
	60,166		Cathay General Bancorp		1,704
	33,881		Centerstate Banks of Florida, Inc		504
	17,227		Central Pacific Financial Corp		375
	2,883		Century Bancorp, Inc		112
	13,560		Charter Financial Corp		183
	24,990		Chemical Financial Corp		892
	128,729		CIT Group, Inc		3,994
	2,220,729		Citigroup, Inc		92,716
	9,568		Citizens & Northern Corp		190
	221,768		Citizens Financial Group, Inc		4,646
	10,721		City Holding Co		512
	19,650	e	Clifton Bancorp, Inc		297
	9,772		CNB Financial Corp		172
	26,184		CoBiz, Inc		309
	42,696		Columbia Banking System, Inc		1,277

250

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	131,821		Comerica, Inc	$	4,992
	63,224		Commerce Bancshares, Inc		2,842
	30,550		Community Bank System, Inc		1,167
	12,718		Community Trust Bancorp, Inc		449
	7,261	*	CommunityOne Bancorp		96
	21,722		ConnectOne Bancorp, Inc		355
	12,656	*	CU Bancorp		268
	39,988	e	Cullen/Frost Bankers, Inc		2,204
	19,196	*	Customers Bancorp, Inc		454
	80,226	e	CVB Financial Corp		1,400
	23,810		Dime Community Bancshares		420
	22,108	*	Eagle Bancorp, Inc		1,061
	106,767		East West Bancorp, Inc		3,468
	4,559		Enterprise Bancorp, Inc		120
	14,785		Enterprise Financial Services Corp		400
	40,929	*	Essent Group Ltd		851
	57,923		EverBank Financial Corp		874
	4,054		Farmers Capital Bank Corp		107
	20,788	*	FCB Financial Holdings, Inc		691
	7,387		Federal Agricultural Mortgage Corp (Class C)		279
	12,551		Fidelity Southern Corp		201
	599,099		Fifth Third Bancorp		9,999
	10,211		Financial Institutions, Inc		297
	15,337		First Bancorp (NC)		289
	85,475	*	First Bancorp (Puerto Rico)		250
	6,485		First Bancorp, Inc		127
	19,350		First Busey Corp		396
	6,176		First Business Financial Services, Inc		142
	5,634		First Citizens Bancshares, Inc (Class A)		1,415
	66,434		First Commonwealth Financial Corp		589
	12,139		First Community Bancshares, Inc		241
	13,926		First Connecticut Bancorp		222
	7,726		First Defiance Financial Corp		297
	44,691		First Financial Bancorp		812
	48,150	e	First Financial Bankshares, Inc		1,424
	8,954		First Financial Corp		306
	172,999		First Horizon National Corp		2,266
	13,482		First Interstate Bancsystem, Inc		379
	26,538		First Merchants Corp		625
	57,533		First Midwest Bancorp, Inc		1,037
	11,498	*	First NBC Bank Holding Co		237
	263,698		First Niagara Financial Group, Inc		2,553
	8,623		First of Long Island Corp		246
	105,295		First Republic Bank		7,017
	123,577		FirstMerit Corp		2,601
	15,789	*	Flagstar Bancorp, Inc		339
	23,200		Flushing Financial Corp		502
	151,336		FNB Corp		1,969
	10,372		Fox Chase Bancorp, Inc		200
	3,888	*	Franklin Financial Network, Inc		105
	130,713		Fulton Financial Corp		1,749
	9,802		German American Bancorp, Inc		316

251

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	56,600		Glacier Bancorp, Inc	$	1,439
	7,809		Great Southern Bancorp, Inc		290
	30,455		Great Western Bancorp, Inc		831
	7,975	*	Green Bancorp, Inc		60
	11,166		Guaranty Bancorp		173
	31,047	*,e	Hampton Roads Bankshares, Inc		55
	57,555		Hancock Holding Co		1,321
	23,963		Hanmi Financial Corp		528
	13,311		Heartland Financial USA, Inc		410
	15,254		Heritage Commerce Corp		153
	22,833		Heritage Financial Corp		401
	14,409		Heritage Oaks Bancorp		112
	55,915	*	Hilltop Holdings, Inc		1,056
	997		Hingham Institution for Savings		119
	42,029		Home Bancshares, Inc		1,721
	15,022	*	HomeStreet, Inc		313
	16,046	*	HomeTrust Bancshares, Inc		294
	6,700		Horizon Bancorp		166
	597,336		Huntington Bancshares, Inc		5,699
	28,157		IBERIABANK Corp		1,444
	6,123	*,e	Impac Mortgage Holdings, Inc		85
	19,246		Independent Bank Corp (MA)		885
	17,558		Independent Bank Corp (MI)		255
	6,960		Independent Bank Group, Inc		191
	40,567		International Bancshares Corp		1,000
	257,321		Investors Bancorp, Inc		2,995
	2,734,146		JPMorgan Chase & Co		161,916
	69,276		Kearny Financial Corp		856
	627,474		Keycorp		6,927
	28,418		Lakeland Bancorp, Inc		288
	12,420		Lakeland Financial Corp		569
	35,043		LegacyTexas Financial Group, Inc		689
	4,100	*,e	LendingTree, Inc		401
	114,700		M&T Bank Corp		12,732
	15,363		MainSource Financial Group, Inc		324
	55,577		MB Financial, Inc		1,803
	12,428		Mercantile Bank Corp		279
	3,784		Merchants Bancshares, Inc		113
	41,025		Meridian Bancorp, Inc		571
	5,273		Meta Financial Group, Inc		240
	252,589	*	MGIC Investment Corp		1,937
	5,257		MidWestOne Financial Group, Inc		144
	27,253		National Bank Holdings Corp		556
	5,351	e	National Bankshares, Inc		184
	4,350	*,e	National Commerce Corp		103
	100,779	e	National Penn Bancshares, Inc		1,072
	28,655	*,e	Nationstar Mortgage Holdings, Inc		284
	32,725		NBT Bancorp, Inc		882
	364,358		New York Community Bancorp, Inc		5,793
	38,864	*	NMI Holdings, Inc		196
	36,323		Northfield Bancorp, Inc		597
	69,442		Northwest Bancshares, Inc		938

252

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,808	e	OceanFirst Financial Corp	$	191
	33,903	e	OFG Bancorp		237
	86,033		Old National Bancorp		1,049
	21,667	*	Old Second Bancorp, Inc		155
	7,479		Opus Bank		254
	32,883		Oritani Financial Corp		558
	14,467		Pacific Continental Corp		233
	15,408	*	Pacific Premier Bancorp, Inc		329
	82,885		PacWest Bancorp		3,079
	9,690	e	Park National Corp		872
	33,018		Park Sterling Bank		220
	11,582		Peapack Gladstone Financial Corp		196
	2,964	e	Penns Woods Bancorp, Inc		114
	9,540	*	PennyMac Financial Services, Inc		112
	13,423		Peoples Bancorp, Inc		262
	5,712	e	Peoples Financial Services Corp		212
	229,288	e	People’s United Financial, Inc		3,653
	36,552	*	PHH Corp		458
	26,946		Pinnacle Financial Partners, Inc		1,322
	378,867		PNC Financial Services Group, Inc		32,041
	77,233		Popular, Inc		2,210
	8,859		Preferred Bank		268
	58,098		PrivateBancorp, Inc		2,243
	51,867	e	Prosperity Bancshares, Inc		2,406
	45,191		Provident Financial Services, Inc		912
	8,729		QCR Holdings, Inc		208
	141,913		Radian Group, Inc		1,760
	992,067		Regions Financial Corp		7,788
	29,870		Renasant Corp		983
	6,104		Republic Bancorp, Inc (Class A)		158
	25,676		S&T Bancorp, Inc		661
	18,232		Sandy Spring Bancorp, Inc		507
	17,078	*	Seacoast Banking Corp of Florida		270
	16,424	e	ServisFirst Bancshares, Inc		729
	8,919		Sierra Bancorp		162
	37,479	*	Signature Bank		5,102
	22,158		Simmons First National Corp (Class A)		999
	18,098		South State Corp		1,162
	16,521		Southside Bancshares, Inc		431
	14,769		Southwest Bancorp, Inc		222
	26,403		State Bank & Trust Co		522
	88,560		Sterling Bancorp/DE		1,411
	10,870		Stock Yards Bancorp, Inc		419
	7,609		Stonegate Bank		228
	10,313	*,e	Stonegate Mortgage Corp		59
	8,903		Suffolk Bancorp		225
	5,838	*	Sun Bancorp, Inc		121
	371,519		SunTrust Banks, Inc		13,404
	37,982	*	SVB Financial Group		3,876
	99,224		Synovus Financial Corp		2,869
	40,611		Talmer Bancorp Inc		735
	125,733		TCF Financial Corp		1,541

253

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,286		Territorial Bancorp, Inc	$	216
	33,717	*	Texas Capital Bancshares, Inc		1,294
	52,879		TFS Financial Corp		919
	26,827	*	The Bancorp, Inc		153
	11,138		Tompkins Trustco, Inc		713
	36,382	e	TowneBank		698
	16,948		Trico Bancshares		429
	16,178	*	Tristate Capital Holdings, Inc		204
	10,668	*	Triumph Bancorp, Inc		169
	71,043		Trustco Bank Corp NY		431
	49,168		Trustmark Corp		1,132
	29,256		UMB Financial Corp		1,510
	161,706		Umpqua Holdings Corp		2,565
	33,847		Union Bankshares Corp		834
	52,160	e	United Bankshares, Inc		1,914
	40,245		United Community Banks, Inc		743
	30,361		United Community Financial Corp		178
	36,948		United Financial Bancorp, Inc (New)		465
	14,493	e	Univest Corp of Pennsylvania		283
	1,223,938		US Bancorp		49,680
	172,796		Valley National Bancorp		1,648
	19,235	*	Walker & Dunlop, Inc		467
	28,439	*,e	Walter Investment Management Corp		217
	70,029		Washington Federal, Inc		1,586
	10,818		Washington Trust Bancorp, Inc		404
	22,962		Waterstone Financial, Inc		314
	67,195		Webster Financial Corp		2,412
	3,433,440		Wells Fargo & Co		166,041
	28,222		WesBanco, Inc		838
	11,970		West Bancorporation, Inc		218
	18,981	e	Westamerica Bancorporation		925
	62,509	*	Western Alliance Bancorp		2,087
	52,747		Wilshire Bancorp, Inc		543
	35,315		Wintrust Financial Corp		1,566
	20,553		WSFS Financial Corp		668
	31,907		Yadkin Financial Corp		755
	149,549		Zions Bancorporation		3,621
			TOTAL BANKS		891,077
CAPITAL GOODS - 7.6%
	467,672		3M Co		77,928
	54,949		A.O. Smith Corp		4,193
	29,877		Aaon, Inc		837
	26,739		AAR Corp		622
	32,350	*	Accuride Corp		50
	43,959		Actuant Corp (Class A)		1,086
	32,117		Acuity Brands, Inc		7,006
	24,758	e	Advanced Drainage Systems, Inc		527
	110,795	*	Aecom Technology Corp		3,411
	28,439	*	Aegion Corp		600
	46,010	*	Aerojet Rocketdyne Holdings, Inc		754
	14,335	*	Aerovironment, Inc		406

254

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	56,061	e	AGCO Corp	$	2,786
	75,690	e	Air Lease Corp		2,431
	46,365	e	Aircastle Ltd		1,031
	6,904		Alamo Group, Inc		385
	21,082		Albany International Corp (Class A)		792
	71,508		Allegion plc		4,556
	4,493		Allied Motion Technologies, Inc		81
	133,019		Allison Transmission Holdings, Inc		3,589
	20,492		Altra Holdings, Inc		569
	13,776	*	Ameresco, Inc		66
	7,032	e	American Railcar Industries, Inc		286
	5,344		American Science & Engineering, Inc		148
	9,387	*	American Woodmark Corp		700
	174,908		Ametek, Inc		8,742
	21,529		Apogee Enterprises, Inc		945
	29,542		Applied Industrial Technologies, Inc		1,282
	9,512		Argan, Inc		334
	28,807	*	Armstrong World Industries, Inc		1,393
	14,102		Astec Industries, Inc		658
	14,118	*	Astronics Corp		539
	19,364		AZZ, Inc		1,096
	40,073	*	Babcock & Wilcox Enterprises, Inc		858
	39,660		Barnes Group, Inc		1,389
	78,609		BE Aerospace, Inc		3,625
	37,178	*	Beacon Roofing Supply, Inc		1,525
	35,059	*	Blount International, Inc		350
	3,967	*,e	Blue Bird Corp		43
	10,746	*	BMC Stock Holdings, Inc		179
	480,961		Boeing Co		61,053
	35,415		Briggs & Stratton Corp		847
	33,815	*	Builders FirstSource, Inc		381
	76,674		BWX Technologies, Inc		2,573
	48,194		Carlisle Cos, Inc		4,795
	443,214		Caterpillar, Inc		33,924
	22,344	*	Chart Industries, Inc		485
	72,371		Chicago Bridge & Iron Co NV		2,648
	12,832		CIRCOR International, Inc		595
	36,993		Clarcor, Inc		2,138
	73,519	*	Colfax Corp		2,102
	14,727		Columbus McKinnon Corp		232
	29,078		Comfort Systems USA, Inc		924
	18,507	*	Commercial Vehicle Group, Inc		49
	23,295	*	Continental Building Products Inc		432
	35,538		Crane Co		1,914
	16,079		Cubic Corp		643
	124,029		Cummins, Inc		13,636
	35,284		Curtiss-Wright Corp		2,670
	435,212		Danaher Corp		41,284
	232,354	e	Deere & Co		17,889
	53,820	*	DigitalGlobe, Inc		931
	101,234	e	Donaldson Co, Inc		3,230
	16,771		Douglas Dynamics, Inc		384

255

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	118,749		Dover Corp	$	7,639
	8,048	*	Ducommun, Inc		123
	9,738	*	DXP Enterprises, Inc		171
	25,816	*,e	Dycom Industries, Inc		1,670
	345,619		Eaton Corp		21,622
	46,269		EMCOR Group, Inc		2,249
	491,222		Emerson Electric Co		26,713
	15,305		Encore Wire Corp		596
	32,847		EnerSys		1,830
	12,394	*	Engility Holdings, Inc		233
	19,664	*,e	Enphase Energy, Inc		46
	17,204		EnPro Industries, Inc		992
	20,012		ESCO Technologies, Inc		780
	21,694	*	Esterline Technologies Corp		1,390
	217,423	e	Fastenal Co		10,654
	46,509		Federal Signal Corp		617
	99,301		Flowserve Corp		4,410
	108,333		Fluor Corp		5,817
	114,489		Fortune Brands Home & Security, Inc		6,416
	35,044		Franklin Electric Co, Inc		1,127
	9,868		Freightcar America, Inc		154
	14,134	*,e	FuelCell Energy, Inc		96
	32,486	e	GATX Corp		1,543
	48,390	*,e	Generac Holdings, Inc		1,802
	37,226		General Cable Corp		455
	202,828		General Dynamics Corp		26,646
	6,913,471		General Electric Co		219,779
	22,869	*	Gibraltar Industries, Inc		654
	16,574		Global Brass & Copper Holdings, Inc		414
	14,132		Gorman-Rupp Co		366
	43,418		Graco, Inc		3,645
	7,763		Graham Corp		155
	29,395		Granite Construction, Inc		1,405
	44,924	*	Great Lakes Dredge & Dock Corp		200
	19,838	e	Greenbrier Cos, Inc		548
	26,499		Griffon Corp		409
	23,777		H&E Equipment Services, Inc		417
	59,172		Harsco Corp		322
	13,954	*,e	HC2 Holdings, Inc		53
	126,159	*	HD Supply Holdings, Inc		4,172
	14,478		HEICO Corp		871
	29,540		HEICO Corp (Class A)		1,406
	71,415		Hexcel Corp		3,122
	45,722		Hillenbrand, Inc		1,369
	575,891		Honeywell International, Inc		64,529
	42,521		Hubbell, Inc		4,504
	35,966		Huntington Ingalls		4,925
	4,796		Hurco Cos, Inc		158
	7,224		Hyster-Yale Materials Handling, Inc		481
	56,742		IDEX Corp		4,703
	220,062		Illinois Tool Works, Inc		22,543
	195,772		Ingersoll-Rand plc		12,140

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	13,472		Insteel Industries, Inc	$	412
	60,728		ITT Corp		2,240
	93,057	*	Jacobs Engineering Group, Inc		4,053
	21,706		John Bean Technologies Corp		1,224
	71,908	e	Joy Global, Inc		1,156
	8,084		Kadant, Inc		365
	19,992		Kaman Corp		853
	106,685		KBR, Inc		1,651
	58,766		Kennametal, Inc		1,322
	24,548	*,e	KEYW Holding Corp		163
	38,579	*	KLX, Inc		1,240
	35,813	*,e	Kratos Defense & Security Solutions, Inc		177
	60,975		L-3 Communications Holdings, Inc		7,226
	4,456	*	Lawson Products, Inc		87
	7,262		LB Foster Co (Class A)		132
	30,249		Lennox International, Inc		4,089
	55,983		Lincoln Electric Holdings, Inc		3,279
	8,999	e	Lindsay Corp		644
	198,722		Lockheed Martin Corp		44,017
	12,960		LSI Industries, Inc		152
	12,907	*	Lydall, Inc		420
	100,071	e	Manitowoc Co, Inc		433
	100,071	*	Manitowoc Foodservice, Inc		1,475
	257,957		Masco Corp		8,113
	22,281	*	Masonite International Corp		1,459
	48,078	*	Mastec, Inc		973
	73,992	*	Meritor, Inc		596
	41,334	*	Middleby Corp		4,413
	9,476	*,e	Milacron Holdings Corp		156
	7,280		Miller Industries, Inc		148
	28,530	*	Moog, Inc (Class A)		1,303
	75,826	*	MRC Global, Inc		996
	34,779		MSC Industrial Direct Co (Class A)		2,654
	42,636		Mueller Industries, Inc		1,254
	118,277		Mueller Water Products, Inc (Class A)		1,169
	15,457	*	MYR Group, Inc		388
	3,938	e	National Presto Industries, Inc		330
	38,145	*,e	Navistar International Corp		478
	19,754	*	NCI Building Systems, Inc		281
	7,962	*,e	Neff Corp		59
	13,876	e	NN, Inc		190
	45,081		Nordson Corp		3,428
	6,979	*	Nortek, Inc		337
	133,582		Northrop Grumman Corp		26,436
	7,062	*	Northwest Pipe Co		65
	79,518	*,e	NOW, Inc		1,409
	3,532	*,e	NV5 Holdings, Inc		95
	2,354		Omega Flex, Inc		82
	44,267		Orbital ATK, Inc		3,849
	19,593	*	Orion Marine Group, Inc		102
	57,963	e	Oshkosh Truck Corp		2,369
	87,128		Owens Corning, Inc		4,119

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	260,496		Paccar, Inc	$	14,247
	102,593		Parker Hannifin Corp		11,396
	9,372	*	Patrick Industries, Inc		425
	132,996		Pentair plc		7,216
	36,380	*	Pgt, Inc		358
	125,956	*,e	Plug Power, Inc		258
	15,949	*	Ply Gem Holdings, Inc		224
	7,077		Powell Industries, Inc		211
	3,314	*,e	Power Solutions International, Inc		46
	14,420	*	PowerSecure International, Inc		270
	1,801		Preformed Line Products Co		66
	28,783		Primoris Services Corp		699
	17,206	*,e	Proto Labs, Inc		1,326
	25,291		Quanex Building Products Corp		439
	123,084	*	Quanta Services, Inc		2,777
	27,582		Raven Industries, Inc		442
	225,762		Raytheon Co		27,685
	17,664		RBC Bearings, Inc		1,294
	33,217		Regal-Beloit Corp		2,096
	74,035	*	Rexnord Corp		1,497
	99,579		Rockwell Automation, Inc		11,327
	97,885		Rockwell Collins, Inc		9,026
	72,041		Roper Industries, Inc		13,167
	26,334	*	Rush Enterprises, Inc (Class A)		480
	31,268		Simpson Manufacturing Co, Inc		1,194
	40,812		Snap-On, Inc		6,407
	43,521	*,e	SolarCity Corp		1,070
	7,959	*	Sparton Corp		143
	104,846	*	Spirit Aerosystems Holdings, Inc (Class A)		4,756
	30,406		SPX Corp		457
	30,406	*	SPX FLOW, Inc		763
	9,752		Standex International Corp		759
	112,645		Stanley Works		11,851
	16,194		Sun Hydraulics Corp		537
	8,231	*,e	Sunrun, Inc		53
	24,710		TAL International Group, Inc		382
	38,585	*,e	Taser International, Inc		757
	26,449	*	Teledyne Technologies, Inc		2,331
	13,262		Tennant Co		683
	77,584		Terex Corp		1,930
	15,040	e	Textainer Group Holdings Ltd		223
	205,292		Textron, Inc		7,485
	7,401	*,e	The ExOne Company		97
	24,419	*	Thermon Group Holdings		429
	57,385		Timken Co		1,922
	33,155	e	Titan International, Inc		178
	11,613	*,e	Titan Machinery, Inc		134
	41,052		Toro Co		3,535
	39,495	*	TransDigm Group, Inc		8,702
	24,081	*	Trex Co, Inc		1,154
	34,233	*	Trimas Corp		600
	114,441		Trinity Industries, Inc		2,095

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	36,497		Triumph Group, Inc	$	1,149
	28,503	*	Tutor Perini Corp		443
	6,504		Twin Disc, Inc		66
	71,789	*	United Rentals, Inc		4,465
	615,029		United Technologies Corp		61,565
	25,266	*	Univar, Inc		434
	14,766		Universal Forest Products, Inc		1,267
	67,415	*	USG Corp		1,673
	17,479		Valmont Industries, Inc		2,165
	7,860	*	Vectrus, Inc		179
	6,270	*,e	Veritiv Corp		234
	12,845	*	Vicor Corp		135
	46,367	e	W.W. Grainger, Inc		10,823
	52,045	*	Wabash National Corp		687
	40,484	*	WABCO Holdings, Inc		4,329
	19,517		Watsco, Inc		2,630
	21,144		Watts Water Technologies, Inc (Class A)		1,166
	32,974	*,e	WESCO International, Inc		1,803
	71,607		Westinghouse Air Brake Technologies Corp		5,678
	48,425		Woodward Governor Co		2,519
	8,335	*	Xerium Technologies, Inc		44
	134,207		Xylem, Inc		5,489
			TOTAL CAPITAL GOODS		1,233,241
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
	41,289		ABM Industries, Inc		1,334
	37,820		Acacia Research (Acacia Technologies)		143
	81,816	*	ACCO Brands Corp		735
	126,681		ADT Corp		5,227
	31,285	*	Advisory Board Co		1,009
	26,021	*	ARC Document Solutions, Inc		117
	6,166		Barrett Business Services, Inc		177
	35,197		Brady Corp (Class A)		945
	35,828		Brink’s Co		1,203
	29,675	*	Casella Waste Systems, Inc (Class A)		199
	35,493	*	CBIZ, Inc		358
	10,344		CDI Corp		65
	25,057		CEB, Inc		1,622
	16,272		Ceco Environmental Corp		101
	67,393		Cintas Corp		6,053
	43,305	*	Clean Harbors, Inc		2,137
	93,566	*	Copart, Inc		3,815
	84,474		Covanta Holding Corp		1,424
	7,013	*	CRA International, Inc		138
	36,968		Deluxe Corp		2,310
	26,621		Dun & Bradstreet Corp		2,744
	107,512	*,m	Dyax Corp		119
	20,052		Ennis, Inc		392
	85,071		Equifax, Inc		9,723
	28,344		Essendant, Inc		905
	19,672		Exponent, Inc		1,003
	9,375	*	Franklin Covey Co		165

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	30,776	*	FTI Consulting, Inc	$	1,093
	15,088		G & K Services, Inc (Class A)		1,105
	9,864	*	GP Strategies Corp		270
	51,852		Healthcare Services Group		1,909
	14,300		Heidrick & Struggles International, Inc		339
	8,893	*	Heritage-Crystal Clean, Inc		88
	43,782		Herman Miller, Inc		1,352
	25,556	*	Hill International, Inc		86
	33,809		HNI Corp		1,324
	17,181	*	Huron Consulting Group, Inc		1,000
	14,961	*	ICF International, Inc		514
	50,885	*	IHS, Inc (Class A)		6,318
	27,969	*	Innerworkings, Inc		222
	14,431		Insperity, Inc		747
	49,074		Interface, Inc		910
	105,770		KAR Auction Services, Inc		4,034
	20,372		Kelly Services, Inc (Class A)		390
	18,302		Kforce, Inc		358
	25,171		Kimball International, Inc (Class B)		286
	35,963		Knoll, Inc		779
	37,184		Korn/Ferry International		1,052
	56,108		Manpower, Inc		4,568
	24,984		Matthews International Corp (Class A)		1,286
	19,108		McGrath RentCorp		479
	13,300	*	Mistras Group, Inc		329
	33,943		Mobile Mini, Inc		1,121
	21,996		MSA Safety, Inc		1,063
	8,734		Multi-Color Corp		466
	36,256	*	Navigant Consulting, Inc		573
	270,305		Nielsen NV		14,234
	4,943	*	NL Industries, Inc		11
	38,425	*	On Assignment, Inc		1,419
	114,792	*	Pendrell Corp		61
	148,964		Pitney Bowes, Inc		3,209
	19,971		Quad		258
	153,250		R.R. Donnelley & Sons Co		2,513
	172,064		Republic Services, Inc		8,199
	28,792		Resources Connection, Inc		448
	100,038		Robert Half International, Inc		4,660
	70,333		Rollins, Inc		1,907
	39,749	*	RPX Corp		448
	12,140	*	SP Plus Corp		292
	61,807		Steelcase, Inc (Class A)		922
	60,451	*	Stericycle, Inc		7,628
	20,907	*	Team, Inc		635
	44,478		Tetra Tech, Inc		1,326
	25,954	*	TransUnion		717
	12,065	*	TRC Cos, Inc		87
	30,336	*	TriNet Group, Inc		435
	30,958	*	TrueBlue, Inc		810
	304,547		Tyco International plc		11,180
	10,976		Unifirst Corp		1,198

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	16,280		US Ecology, Inc	$	719
	125,086	*	Verisk Analytics, Inc		9,997
	15,178		Viad Corp		443
	7,372	*	Volt Information Sciences, Inc		56
	2,793		VSE Corp		190
	26,743	*	WageWorks, Inc		1,353
	91,756		Waste Connections, Inc		5,927
	338,661		Waste Management, Inc		19,981
	38,638		West Corp		882
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		180,369
CONSUMER DURABLES & APPAREL - 1.7%
	9,523	e	Arctic Cat, Inc		160
	7,681		Bassett Furniture Industries, Inc		245
	21,459	*,e	Beazer Homes USA, Inc		187
	16,578	*	Black Diamond, Inc		75
	68,196		Brunswick Corp		3,272
	57,812		CalAtlantic Group, Inc		1,932
	58,438		Callaway Golf Co		533
	39,090		Carter’s, Inc		4,119
	6,619	*	Cavco Industries, Inc		619
	11,363	*	Century Communities, Inc		194
	6,001	*	Cherokee, Inc		107
	204,773		Coach, Inc		8,209
	21,226		Columbia Sportswear Co		1,275
	56,978	*	CROCS, Inc		548
	6,879		CSS Industries, Inc		192
	6,895		Culp, Inc		181
	26,041	*	Deckers Outdoor Corp		1,560
	241,753		DR Horton, Inc		7,308
	7,865		Escalade, Inc		93
	18,783	e	Ethan Allen Interiors, Inc		598
	3,991		Flexsteel Industries, Inc		174
	31,215	*,e	Fossil Group, Inc		1,387
	87,591	e	Garmin Ltd		3,500
	29,399	*	G-III Apparel Group Ltd		1,437
	65,952	*,e	GoPro, Inc		789
	9,827	*,e	Green Brick Partners, Inc		75
	297,224		Hanesbrands, Inc		8,423
	52,481		Harman International Industries, Inc		4,673
	82,316		Hasbro, Inc		6,593
	21,160	*	Helen of Troy Ltd		2,194
	7,913		Hooker Furniture Corp		260
	93,175	*,e	Hovnanian Enterprises, Inc (Class A)		145
	34,721	*,e	Iconix Brand Group, Inc		279
	14,775	*	Installed Building Products Inc		393
	21,039	*,e	iRobot Corp		743
	13,358	*,e	Jakks Pacific, Inc		99
	155,992	*	Jarden Corp		9,196
	3,583		Johnson Outdoors, Inc		80
	94,263	*	Kate Spade & Co		2,406
	60,650	e	KB Home		866

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	37,580		La-Z-Boy, Inc	$	1,005
	101,979		Leggett & Platt, Inc		4,936
	7,350		Lennar Corp (B Shares)		284
	128,503	e	Lennar Corp (Class A)		6,214
	10,716	*,e	LGI Homes, Inc		259
	16,013		Libbey, Inc		298
	7,210		Lifetime Brands, Inc		109
	82,394	*,e	Lululemon Athletica, Inc		5,579
	16,714	*	M/I Homes, Inc		312
	13,092	*	Malibu Boats Inc		215
	8,407		Marine Products Corp		64
	250,569		Mattel, Inc		8,424
	6,163	*	MCBC Holdings, Inc		87
	29,150	e	MDC Holdings, Inc		730
	28,574	*	Meritage Homes Corp		1,042
	135,932	*	Michael Kors Holdings Ltd		7,743
	45,442	*	Mohawk Industries, Inc		8,675
	12,667		Movado Group, Inc		349
	3,180		Nacco Industries, Inc (Class A)		182
	22,756	*	Nautilus, Inc		440
	6,504	*,e	New Home Co Inc		80
	198,550	e	Newell Rubbermaid, Inc		8,794
	997,696		Nike, Inc (Class B)		61,328
	2,923	*	NVR, Inc		5,064
	10,973		Oxford Industries, Inc		738
	32,977	*	Performance Sports Group Ltd		105
	8,860	*	Perry Ellis International, Inc		163
	57,355		Phillips-Van Heusen Corp		5,682
	48,899	e	Polaris Industries, Inc		4,816
	32,650		Pool Corp		2,865
	270,599		Pulte Homes, Inc		5,063
	44,148		Ralph Lauren Corp		4,250
	27,136	*	Sequential Brands Group, Inc		173
	90,672	*	Skechers U.S.A., Inc (Class A)		2,761
	12,508	*	Skullcandy, Inc		44
	39,523	*	Smith & Wesson Holding Corp		1,052
	41,788	*	Steven Madden Ltd		1,548
	13,899	e	Sturm Ruger & Co, Inc		950
	5,163		Superior Uniform Group, Inc		92
	24,241	*	Taylor Morrison Home Corp		342
	45,528	*	Tempur-Pedic International, Inc		2,768
	129,747	*	Toll Brothers, Inc		3,829
	28,661	*	TopBuild Corp		852
	118,469	*	TRI Pointe Homes, Inc		1,395
	41,746	*	Tumi Holdings, Inc		1,120
	36,963	e	Tupperware Corp		2,143
	131,968	*,e	Under Armour, Inc (Class A)		11,195
	10,905	*	Unifi, Inc		250
	11,370	*	Universal Electronics, Inc		705
	16,444	*,e	Vera Bradley, Inc		334
	250,119		VF Corp		16,198
	9,200	*,e	Vince Holding Corp		58

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	47,182	*	Vista Outdoor, Inc	$	2,449
	11,248	*	WCI Communities, Inc		209
	5,214		Weyco Group, Inc		139
	58,219		Whirlpool Corp		10,499
	13,294	*,e	William Lyon Homes, Inc		193
	76,448		Wolverine World Wide, Inc		1,408
	21,026	*	Zagg, Inc		189
			TOTAL CONSUMER DURABLES & APPAREL		283,909
CONSUMER SERVICES - 2.3%
	17,607	*,e	2U, Inc		398
	13,862	*	American Public Education, Inc		286
	69,950	*	Apollo Group, Inc (Class A)		575
	142,754		ARAMARK Holdings Corp		4,728
	10,215	*	Ascent Media Corp (Series A)		151
	71,477	*	Belmond Ltd.		678
	15,788	*	BJ’s Restaurants, Inc		656
	90,837		Bloomin’ Brands, Inc		1,532
	17,542		Bob Evans Farms, Inc		819
	6,185	*,e	Bojangles’, Inc		105
	58,143	*	Boyd Gaming Corp		1,201
	12,909	*	Bravo Brio Restaurant Group, Inc		100
	13,548	*	Bridgepoint Education, Inc		137
	27,545	*	Bright Horizons Family Solutions		1,784
	45,353		Brinker International, Inc		2,084
	14,166	*	Buffalo Wild Wings, Inc		2,098
	34,686	*	Caesars Acquisition Co		212
	38,423	*,e	Caesars Entertainment Corp		261
	8,227	*	Cambium Learning Group, Inc		35
	8,937		Capella Education Co		470
	46,334	*	Career Education Corp		210
	311,765		Carnival Corp		16,452
	12,748	e	Carriage Services, Inc		276
	27,792	*	Carrols Restaurant Group, Inc		401
	36,458		Cheesecake Factory		1,936
	54,819	*,e	Chegg, Inc		245
	22,845	*	Chipotle Mexican Grill, Inc (Class A)		10,759
	26,423		Choice Hotels International, Inc		1,428
	10,291		Churchill Downs, Inc		1,522
	12,474	*,e	Chuy’s Holdings, Inc		388
	31,382		ClubCorp Holdings, Inc		441
	5,623		Collectors Universe		93
	14,150	e	Cracker Barrel Old Country Store, Inc		2,160
	93,005		Darden Restaurants, Inc		6,166
	16,794	*	Dave & Buster’s Entertainment, Inc		651
	17,725	*	Del Frisco’s Restaurant Group, Inc		294
	61,863	*	Denny’s Corp		641
	48,007	e	DeVry Education Group, Inc		829
	30,972	*,e	Diamond Resorts International, Inc		753
	12,442		DineEquity, Inc		1,162
	40,835		Domino’s Pizza, Inc		5,385
	71,089	e	Dunkin Brands Group, Inc		3,353

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,058	*,e	El Pollo Loco Holdings, Inc	$	134
	20,875	*	Eldorado Resorts, Inc		239
	2,242	*,e	Empire Resorts, Inc		31
	44,382		Extended Stay America, Inc		723
	20,469	*	Fiesta Restaurant Group, Inc		671
	2,399		Graham Holdings Co		1,152
	34,464	*	Grand Canyon Education, Inc		1,473
	178,261	e	H&R Block, Inc		4,710
	8,405	*,e	Habit Restaurants, Inc		157
	384,225		Hilton Worldwide Holdings, Inc		8,653
	101,128	*	Houghton Mifflin Harcourt Co		2,017
	25,504	*,e	Hyatt Hotels Corp		1,262
	68,009		International Game Technology plc		1,241
	20,955		International Speedway Corp (Class A)		773
	29,107	e	Interval Leisure Group, Inc		420
	13,700	*	Intrawest Resorts Holdings Inc		117
	15,534	*	Isle of Capri Casinos, Inc		218
	10,324	*	J Alexander’s Holdings, Inc		109
	27,934		Jack in the Box, Inc		1,784
	11,200	*,e	Jamba, Inc		138
	26,055	*	K12, Inc		258
	6,015	*,e	Kona Grill, Inc		78
	48,331	*	Krispy Kreme Doughnuts, Inc		754
	69,470	*,e	La Quinta Holdings, Inc		868
	270,501		Las Vegas Sands Corp		13,980
	3,365		Liberty Tax, Inc		66
	68,430	*,e	LifeLock, Inc		826
	14,891		Marcus Corp		282
	146,741	e	Marriott International, Inc (Class A)		10,445
	19,332		Marriott Vacations Worldwide Corp		1,305
	649,390		McDonald’s Corp		81,615
	329,404	*	MGM Resorts International		7,062
	7,140	*	Monarch Casino & Resort, Inc		139
	8,091	*,e	Noodles & Co		96
	97,296	*	Norwegian Cruise Line Holdings Ltd		5,380
	18,711	*	Panera Bread Co (Class A)		3,833
	21,662		Papa John’s International, Inc		1,174
	6,692	*,e	Papa Murphy’s Holdings, Inc		80
	60,160	*	Penn National Gaming, Inc		1,004
	43,980	*	Pinnacle Entertainment, Inc		1,544
	10,931	*,e	Planet Fitness, Inc		178
	17,192	*	Popeyes Louisiana Kitchen, Inc		895
	16,455	*	Potbelly Corp		224
	10,662	*	Red Robin Gourmet Burgers, Inc		687
	30,479	*	Regis Corp		463
	127,003		Royal Caribbean Cruises Ltd		10,433
	46,223	*	Ruby Tuesday, Inc		249
	26,831		Ruth’s Chris Steak House, Inc		494
	37,197	*,e	Scientific Games Corp (Class A)		351
	51,334	e	SeaWorld Entertainment, Inc		1,081
	149,654		Service Corp International		3,693
	75,591	*	ServiceMaster Global Holdings, Inc		2,848

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	4,371	*,e	Shake Shack, Inc	$	163
	53,284		Six Flags Entertainment Corp		2,957
	38,968		Sonic Corp		1,370
	46,276	e	Sotheby’s (Class A)		1,237
	9,984		Speedway Motorsports, Inc		198
	1,107,555		Starbucks Corp		66,121
	127,142		Starwood Hotels & Resorts Worldwide, Inc		10,607
	862	*	Steak N Shake Co		320
	7,659	*	Strayer Education, Inc		373
	50,852	e	Texas Roadhouse, Inc (Class A)		2,216
	15,190		Universal Technical Institute, Inc		66
	27,082		Vail Resorts, Inc		3,621
	20,932	*,e	Weight Watchers International, Inc		304
	159,675		Wendy’s		1,739
	4,418	*,e	Wingstop, Inc		100
	86,121		Wyndham Worldwide Corp		6,582
	60,223	e	Wynn Resorts Ltd		5,627
	300,582		Yum! Brands, Inc		24,603
	14,098	*,e	Zoe’s Kitchen, Inc		550
			TOTAL CONSUMER SERVICES		381,016
DIVERSIFIED FINANCIALS - 3.7%
	40,483	*	Affiliated Managers Group, Inc		6,574
	355,309	*	Ally Financial, Inc		6,651
	603,676		American Express Co		37,066
	124,353		Ameriprise Financial, Inc		11,690
	16,506	e	Arlington Asset Investment Corp (Class A)		207
	26,422		Artisan Partners Asset Management, Inc		815
	608	*,e	Ashford, Inc		28
	4,901	*	Associated Capital Group, Inc		137
	829,364		Bank of New York Mellon Corp		30,545
	4,100	*,e	BBX Capital Corp		65
	131,560		BGC Partners, Inc (Class A)		1,191
	92,793		BlackRock, Inc		31,603
	16,951		Calamos Asset Management, Inc (Class A)		144
	381,542		Capital One Financial Corp		26,445
	20,380		Cash America International, Inc		787
	60,962		CBOE Holdings, Inc		3,983
	846,448		Charles Schwab Corp		23,717
	237,188		CME Group, Inc		22,782
	14,207		Cohen & Steers, Inc		553
	82,972	*,e	Cowen Group, Inc		316
	6,269	*,e	Credit Acceptance Corp		1,138
	2,179		Diamond Hill Investment Group, Inc		386
	304,658		Discover Financial Services		15,513
	214,458	*	E*TRADE Financial Corp		5,252
	88,158		Eaton Vance Corp		2,955
	19,334	*,e	Encore Capital Group, Inc		498
	18,647	*	Enova International, Inc		118
	25,641		Evercore Partners, Inc (Class A)		1,327
	38,445	*	Ezcorp, Inc (Class A)		114
	29,637		Factset Research Systems, Inc		4,491

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	69,691		Federated Investors, Inc (Class B)	$	2,011
	39,058	e	Financial Engines, Inc		1,228
	21,634		First Cash Financial Services, Inc		996
	59,776	*	FNFV Group		649
	286,726		Franklin Resources, Inc		11,197
	23,847		Gain Capital Holdings, Inc		156
	4,901		GAMCO Investors, Inc (Class A)		182
	315,875		Goldman Sachs Group, Inc		49,586
	34,042	*,e	Green Dot Corp		782
	22,433		Greenhill & Co, Inc		498
	27,971		HFF, Inc (Class A)		770
	8,431		Houlihan Lokey, Inc		210
	42,390		Interactive Brokers Group, Inc (Class A)		1,667
	85,903		IntercontinentalExchange Group, Inc		20,199
	11,369	*	INTL FCStone, Inc		304
	318,549		Invesco Ltd		9,802
	25,877		Investment Technology Group, Inc		572
	67,000	e	iShares Russell 2000 Index Fund		7,412
	109,114		Janus Capital Group, Inc		1,596
	32,261	*	KCG Holdings, Inc		386
	73,441	*,e	Ladenburg Thalmann Financial Services, Inc		184
	92,967		Lazard Ltd (Class A)		3,607
	72,511		Legg Mason, Inc		2,515
	50,188	*,e	LendingClub Corp		417
	242,948		Leucadia National Corp		3,928
	61,562	e	LPL Financial Holdings, Inc		1,527
	27,836		MarketAxess Holdings, Inc		3,475
	6,533		Marlin Business Services Corp		93
	202,506		McGraw-Hill Financial, Inc		20,044
	5,352	e	Medley Management, Inc		29
	12,795		Moelis & Co		361
	131,247		Moody’s Corp		12,673
	1,128,114		Morgan Stanley		28,214
	14,154		Morningstar, Inc		1,249
	78,111		MSCI, Inc (Class A)		5,786
	79,974		NASDAQ OMX Group, Inc		5,309
	270,026		Navient Corp		3,232
	17,407		Nelnet, Inc (Class A)		685
	18,457	*	NewStar Financial, Inc		162
	172,816		Northern Trust Corp		11,262
	143,463		NorthStar Asset Management Group, Inc		1,628
	19,473		OM Asset Management plc		260
	8,132	*,e	On Deck Capital, Inc		63
	38,494	*,e	OneMain Holdings, Inc		1,056
	7,363		Oppenheimer Holdings, Inc		116
	17,372	*	Pico Holdings, Inc		178
	12,046	*	Piper Jaffray Cos		597
	35,958	e	PRA Group, Inc		1,057
	9,591		Pzena Investment Management, Inc (Class A)		72
	94,509		Raymond James Financial, Inc		4,500
	8,577	*	Regional Management Corp		147
	9,098		Resource America, Inc (Class A)		52

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	16,951	*	Safeguard Scientifics, Inc	$	225
	66,420		Santander Consumer USA Holdings, Inc		697
	103,149		SEI Investments Co		4,441
	317,527	*	SLM Corp		2,019
	28,000	e	SPDR S&P MidCap 400 ETF Trust		7,356
	253,000	e	SPDR Trust Series 1		52,007
	304,529		State Street Corp		17,821
	49,761	*	Stifel Financial Corp		1,473
	610,499	*	Synchrony Financial		17,497
	193,908		T Rowe Price Group, Inc		14,244
	196,566		TD Ameritrade Holding Corp		6,198
	22,143	e	Tiptree Financial, Inc		126
	13,262		Virtu Financial, Inc		293
	5,194		Virtus Investment Partners, Inc		406
	161,375		Voya Financial, Inc		4,804
	62,904		Waddell & Reed Financial, Inc (Class A)		1,481
	5,409		Westwood Holdings Group, Inc		317
	84,317	e	WisdomTree Investments, Inc		964
	5,697	*	World Acceptance Corp		216
			TOTAL DIVERSIFIED FINANCIALS		594,357
ENERGY - 6.1%
	70,225	*,e	Abraxas Petroleum Corp		71
	1,730		Adams Resources & Energy, Inc		69
	23,232	e	Alon USA Energy, Inc		240
	375,701		Anadarko Petroleum Corp		17,496
	47,017	*,e	Antero Resources Corp		1,169
	278,995		Apache Corp		13,618
	51,391		Archrock, Inc		411
	14,064	e	Ardmore Shipping Corp		119
	47,265	e	Atwood Oceanics, Inc		433
	321,443		Baker Hughes, Inc		14,089
	36,170	*,e	Bill Barrett Corp		225
	26,221		Bristow Group, Inc		496
	339,985		Cabot Oil & Gas Corp		7,721
	48,954	*	Callon Petroleum Co		433
	139,975	*	Cameron International Corp		9,385
	15,028	e	CARBO Ceramics, Inc		213
	37,895	*,e	Carrizo Oil & Gas, Inc		1,172
	174,970	*,e	Cheniere Energy, Inc		5,919
	405,034	e	Chesapeake Energy Corp		1,669
	1,382,033		Chevron Corp		131,846
	69,929		Cimarex Energy Co		6,802
	54,226	*,e	Clean Energy Fuels Corp		159
	46,507	*,e	Cloud Peak Energy, Inc		91
	270,770	*	Cobalt International Energy, Inc		804
	287,658		Columbia Pipeline Group, Inc		7,220
	95,159	*	Concho Resources, Inc		9,615
	912,242		ConocoPhillips		36,736
	169,243	e	Consol Energy, Inc		1,911
	12,994	*	Contango Oil & Gas Co		153
	63,433	*,e	Continental Resources, Inc		1,926

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,149	e	CVR Energy, Inc	$	291
	42,034		Delek US Holdings, Inc		641
	266,127	e	Denbury Resources, Inc		591
	353,604		Devon Energy Corp		9,703
	66,927		DHT Holdings, Inc		385
	47,743	e	Diamond Offshore Drilling, Inc		1,037
	46,462	*	Diamondback Energy, Inc		3,586
	17,982	*,e	Dorian LPG Ltd		169
	28,933	*	Dril-Quip, Inc		1,752
	54,290		Energen Corp		1,986
	31,459	*	Energy Fuels, Inc		70
	172,866		Ensco plc		1,793
	404,281		EOG Resources, Inc		29,343
	25,000	*,e	EP Energy Corp		113
	112,945		EQT Corp		7,597
	14,364	*	Era Group, Inc		135
	9,927	*,e	Erin Energy Corp		19
	17,517		Evolution Petroleum Corp		85
	25,695	*	Exterran Corp		397
	3,081,614	d	Exxon Mobil Corp		257,592
	46,513	*,e	Fairmount Santrol Holdings, Inc		117
	171,060	*	FMC Technologies, Inc		4,680
	43,546	*,e	Forum Energy Technologies, Inc		575
	26,300	e	Frank’s International NV		433
	16,195	e	Frontline Ltd		136
	32,033	e	GasLog Ltd		312
	58,105	*,e	Gastar Exploration, Inc		64
	16,135	*	Gener8 Maritime, Inc		114
	9,836	*,e	Geospace Technologies Corp		121
	66,097	e	Golar LNG Ltd		1,188
	26,945		Green Plains Renewable Energy, Inc		430
	20,444	e	Gulfmark Offshore, Inc		126
	71,494	*	Gulfport Energy Corp		2,026
	7,892	e	Hallador Energy Co		36
	623,971		Halliburton Co		22,288
	77,857	*	Helix Energy Solutions Group, Inc		436
	71,374	e	Helmerich & Payne, Inc		4,191
	201,915		Hess Corp		10,631
	137,033		HollyFrontier Corp		4,840
	23,429	*,e	Hornbeck Offshore Services, Inc		233
	12,002	*,e	Independence Contract Drilling, Inc		57
	823	*,e	Isramco, Inc		67
	1,320,884		Kinder Morgan, Inc		23,591
	115,749	*,e	Kosmos Energy LLC		674
	90,832	*,e	Laredo Petroleum Holdings, Inc		720
	619,365		Marathon Oil Corp		6,900
	399,405		Marathon Petroleum Corp		14,850
	55,403	*,e	Matador Resources Co		1,050
	19,934	*	Matrix Service Co		353
	180,710	*,e	McDermott International, Inc		739
	61,264	*	Memorial Resource Development Corp		624
	131,616	e	Murphy Oil Corp		3,315

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	243,840		Nabors Industries Ltd	$	2,243
	281,302	e	National Oilwell Varco, Inc		8,748
	9,713	*	Natural Gas Services Group, Inc		210
	61,477	e	Navios Maritime Acq Corp		98
	144,377	*	Newfield Exploration Co		4,801
	63,344	*	Newpark Resources, Inc		274
	176,953	e	Noble Corp plc		1,831
	317,190		Noble Energy, Inc		9,963
	13,964	e	Nordic American Offshore Ltd		63
	68,002	e	Nordic American Tanker Shipping		958
	5,440	*,e	North Atlantic Drilling Ltd		15
	48,403	*,e	Northern Oil And Gas, Inc		193
	102,607	*,e	Oasis Petroleum, Inc		747
	568,080	*	Occidental Petroleum Corp		38,874
	73,330		Oceaneering International, Inc		2,437
	38,178	*	Oil States International, Inc		1,203
	155,126	e	Oneok, Inc		4,632
	15,683	*,e	Pacific Ethanol, Inc		73
	10,734		Panhandle Oil and Gas, Inc (Class A)		186
	12,018	*	Par Petroleum Corp		225
	96,030	*	Parker Drilling Co		204
	61,450	*	Parsley Energy, Inc		1,389
	109,613		Patterson-UTI Energy, Inc		1,931
	63,909		PBF Energy, Inc		2,122
	29,537	*	PDC Energy, Inc		1,756
	9,723	*	PHI, Inc		184
	397,974		Phillips 66		34,461
	42,944	*	Pioneer Energy Services Corp		94
	118,664		Pioneer Natural Resources Co		16,701
	130,757		Questar Market Resources, Inc		1,845
	124,748	e	Range Resources Corp		4,039
	32,964	*	Renewable Energy Group, Inc		311
	5,384	*,e	Rex American Resources Corp		299
	53,668	*,e	Rice Energy, Inc		749
	9,601	*	RigNet, Inc		131
	14,462	*,e	Ring Energy, Inc		73
	93,726		Rowan Cos plc		1,509
	42,512	e	RPC, Inc		603
	40,173	*	RSP Permian, Inc		1,167
	39,750	*	Sanchez Energy Corp		218
	932,477		Schlumberger Ltd		68,770
	129,737		Scorpio Tankers, Inc		756
	13,606	*,e	SEACOR Holdings, Inc		741
	273,827	*,e	Seadrill Ltd		904
	32,387		SemGroup Corp		725
	45,041	e	Ship Finance International Ltd		626
	49,819	e	SM Energy Co		934
	284,727	*,e	Southwestern Energy Co		2,298
	499,265		Spectra Energy Corp		15,278
	111,107		Superior Energy Services		1,488
	76,439	*,e	Synergy Resources Corp		594
	118,190		Targa Resources Investments, Inc		3,529

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,489	e	Teekay Corp	$	299
	62,294		Teekay Tankers Ltd (Class A)		229
	26,063		Tesco Corp		224
	93,353		Tesoro Corp		8,029
	61,337	*	Tetra Technologies, Inc		389
	34,989	e	Tidewater, Inc		239
	17,866	*,e	TransAtlantic Petroleum Ltd		13
	36,980	*	Unit Corp		326
	65,643	*,e	Uranium Energy Corp		49
	40,307	e	US Silica Holdings Inc		916
	354,793		Valero Energy Corp		22,756
	26,733	*,e	W&T Offshore, Inc		59
	573,568	*	Weatherford International Ltd		4,462
	52,354	e	Western Refining, Inc		1,523
	133,501	*,e	Whiting Petroleum Corp		1,065
	553,984		Williams Cos, Inc		8,903
	54,384		World Fuel Services Corp		2,642
	151,612	*,e	WPX Energy, Inc		1,060
			TOTAL ENERGY		992,799
FOOD & STAPLES RETAILING - 2.1%
	21,366		Andersons, Inc		671
	28,759		Casey’s General Stores, Inc		3,259
	14,374	*	Chefs’ Warehouse Holdings, Inc		292
	323,514		Costco Wholesale Corp		50,979
	828,719		CVS Health Corp		85,963
	31,233	*,e	Fresh Market, Inc		891
	9,316		Ingles Markets, Inc (Class A)		349
	713,663		Kroger Co		27,298
	6,410	*,e	Natural Grocers by Vitamin C		136
	18,186	*,e	Performance Food Group Co		425
	14,319		Pricesmart, Inc		1,211
	731,408	*	Rite Aid Corp		5,961
	17,661	*	Smart & Final Stores, Inc		286
	28,394		Spartan Stores, Inc		861
	112,416	*	Sprouts Farmers Market, Inc		3,265
	191,905	*	Supervalu, Inc		1,105
	438,691		Sysco Corp		20,500
	36,929	*	United Natural Foods, Inc		1,488
	4,843		Village Super Market (Class A)		117
	632,211		Walgreens Boots Alliance, Inc		53,258
	1,159,220		Wal-Mart Stores, Inc		79,395
	8,834		Weis Markets, Inc		398
	240,223		Whole Foods Market, Inc		7,473
			TOTAL FOOD & STAPLES RETAILING		345,581
FOOD, BEVERAGE & TOBACCO - 5.1%
	2,319	e	Alico, Inc		64
	1,448,932		Altria Group, Inc		90,790
	9,627	*,e	Amplify Snack Brands, Inc		138
	5,199	*,e	Arcadia Biosciences, Inc		14
	458,865		Archer Daniels Midland Co		16,661

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	42,015		B&G Foods, Inc (Class A)	$	1,463
	32,179	*,e	Blue Buffalo Pet Products, Inc		826
	6,759	*,e	Boston Beer Co, Inc (Class A)		1,251
	20,237	e	Brown-Forman Corp		2,159
	89,874		Brown-Forman Corp (Class B)		8,850
	106,137		Bunge Ltd		6,015
	10,841		Calavo Growers, Inc		619
	23,658	e	Cal-Maine Foods, Inc		1,228
	128,947		Campbell Soup Co		8,226
	44,724	*,e	Castle Brands, Inc		42
	3,512		Coca-Cola Bottling Co Consolidated		561
	2,875,732		Coca-Cola Co		133,405
	172,269		Coca-Cola Enterprises, Inc		8,741
	315,962		ConAgra Foods, Inc		14,098
	120,911		Constellation Brands, Inc (Class A)		18,268
	7,653	*,e	Craft Brewers Alliance, Inc		63
	122,720	*	Darling International, Inc		1,616
	70,011	e	Dean Foods Co		1,213
	137,423		Dr Pepper Snapple Group, Inc		12,288
	5,320	*	Farmer Bros Co		148
	128,238		Flowers Foods, Inc		2,367
	24,793		Fresh Del Monte Produce, Inc		1,043
	15,781	*,e	Freshpet, Inc		116
	440,990		General Mills, Inc		27,937
	76,104	*	Hain Celestial Group, Inc		3,113
	108,117		Hershey Co		9,957
	198,070		Hormel Foods Corp		8,565
	52,645		Ingredion, Inc		5,622
	14,455	*,e	Inventure Foods, Inc		82
	11,326		J&J Snack Foods Corp		1,226
	88,147		J.M. Smucker Co		11,445
	5,780		John B. Sanfilippo & Son, Inc		399
	184,673		Kellogg Co		14,137
	436,360		Kraft Heinz Co		34,280
	14,003		Lancaster Colony Corp		1,548
	19,323	*	Landec Corp		203
	3,603	*	Lifeway Foods, Inc		39
	8,386	e	Limoneira Co		127
	94,535		McCormick & Co, Inc		9,404
	137,192		Mead Johnson Nutrition Co		11,657
	8,017		Mgp Ingredients, Inc		194
	116,259		Molson Coors Brewing Co (Class B)		11,182
	1,196,053		Mondelez International, Inc		47,986
	109,914	*	Monster Beverage Corp		14,660
	8,815	*	National Beverage Corp		373
	15,084	*	Omega Protein Corp		256
	1,082,167		PepsiCo, Inc		110,901
	1,138,277		Philip Morris International, Inc		111,676
	48,235	*,e	Pilgrim’s Pride Corp		1,225
	85,273		Pinnacle Foods, Inc		3,810
	40,255	*,e	Post Holdings, Inc		2,768
	601,072		Reynolds American, Inc		30,240

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	16,213	e	Sanderson Farms, Inc	$	1,462
	192	*	Seaboard Corp		577
	6,106	*	Seneca Foods Corp		212
	51,267	e	Snyder’s-Lance, Inc		1,614
	14,223	*,e	Synutra International, Inc		71
	14,408	e	Tootsie Roll Industries, Inc		503
	41,545	*	TreeHouse Foods, Inc		3,604
	217,034		Tyson Foods, Inc (Class A)		14,467
	16,609	e	Universal Corp		944
	59,391	e	Vector Group Ltd		1,357
	129,894	*	WhiteWave Foods Co (Class A)		5,279
			TOTAL FOOD, BEVERAGE & TOBACCO		837,375
HEALTH CARE EQUIPMENT & SERVICES - 5.0%
	5,996	*,e	AAC Holdings, Inc		119
	16,624		Abaxis, Inc		755
	1,101,154		Abbott Laboratories		46,061
	30,796	*	Abiomed, Inc		2,920
	38,100	*	Acadia Healthcare Co, Inc		2,100
	58,290	*,e	Accuray, Inc		337
	20,426		Aceto Corp		481
	4,240	*	Addus HomeCare Corp		73
	4,312	*,e	Adeptus Health, Inc		239
	257,072		Aetna Inc		28,882
	29,433	*,e	Air Methods Corp		1,066
	62,811	*	Alere, Inc		3,179
	60,253	*	Align Technology, Inc		4,380
	4,207	*	Alliance HealthCare Services, Inc		30
	133,589	*	Allscripts Healthcare Solutions, Inc		1,765
	5,488	*	Almost Family, Inc		204
	21,596	*	Amedisys, Inc		1,044
	151,413		AmerisourceBergen Corp		13,105
	34,893	*	AMN Healthcare Services, Inc		1,173
	35,759	*	Amsurg Corp		2,668
	9,253		Analogic Corp		731
	18,523	*	Angiodynamics, Inc		228
	10,943	*	Anika Therapeutics, Inc		489
	112,289	*,e	Antares Pharma, Inc		98
	191,907		Anthem, Inc		26,673
	28,653	*,e	athenahealth, Inc		3,976
	21,089	*,e	AtriCure, Inc		355
	1,165		Atrion Corp		461
	54,958		Bard (C.R.), Inc		11,138
	401,924		Baxter International, Inc		16,511
	152,792		Becton Dickinson & Co		23,197
	51,896	*,e	BioScrip, Inc		111
	19,708	*	BioTelemetry, Inc		230
	992,117	*	Boston Scientific Corp		18,662
	135,933	*	Brookdale Senior Living, Inc		2,159
	25,974		Cantel Medical Corp		1,853
	21,051	*	Capital Senior Living Corp		390
	244,734		Cardinal Health, Inc		20,056

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,626	*,e	Cardiovascular Systems, Inc	$	245
	24,169	*,e	Castlight Health, Inc		80
	123,482	*	Centene Corp		7,603
	222,136	*	Cerner Corp		11,764
	71,510	*,e	Cerus Corp		424
	12,646		Chemed Corp		1,713
	188,472		Cigna Corp		25,866
	9,010	*	Civitas Solutions, Inc		157
	87,364		Community Health Systems, Inc		1,617
	8,700	e	Computer Programs & Systems, Inc		453
	7,574	*,e	ConforMIS, Inc		81
	20,631		Conmed Corp		865
	5,120	*,e	Connecture, Inc		13
	33,944		Cooper Cos, Inc		5,226
	16,039	*,e	Corindus Vascular Robotics, Inc		16
	7,512	*	Corvel Corp		296
	22,090	*	Cross Country Healthcare, Inc		257
	19,963		CryoLife, Inc		215
	10,389	*	Cutera, Inc		117
	16,811	*	Cynosure, Inc (Class A)		742
	130,506	*	DaVita, Inc		9,577
	178,595		DENTSPLY SIRONA, Inc		11,007
	58,641	*	DexCom, Inc		3,982
	26,827	*	Diplomat Pharmacy, Inc		735
	159,214	*	Edwards Lifesciences Corp		14,044
	5,034	*,e	EndoChoice Holdings, Inc		26
	47,927	*,e	Endologix, Inc		401
	37,412		Ensign Group, Inc		847
	3,873	*,e	Entellus Medical, Inc		70
	137,365	*	Envision Healthcare Holdings, Inc		2,802
	8,762	*,e	Evolent Health, Inc		93
	7,074	*	Exactech, Inc		143
	30,586	*	ExamWorks Group, Inc		904
	466,320	*	Express Scripts Holding Co		32,032
	29,310	*	Five Star Quality Care, Inc		67
	30,765	*,e	GenMark Diagnostics, Inc		162
	4,290	*,e	Glaukos Corp		72
	49,755	*	Globus Medical, Inc		1,182
	18,875	*	Greatbatch, Inc		673
	38,562	*	Haemonetics Corp		1,349
	35,247	*	Halyard Health, Inc		1,013
	235,592		HCA Holdings, Inc		18,388
	26,662	*	HealthEquity, Inc		658
	67,513	e	Healthsouth Corp		2,541
	18,780	*	HealthStream, Inc		415
	23,599	*	Healthways, Inc		238
	12,504	*,e	HeartWare International, Inc		393
	59,318	*	Henry Schein, Inc		10,240
	42,104		Hill-Rom Holdings, Inc		2,118
	65,676	*	HMS Holdings Corp		942
	181,625	*	Hologic, Inc		6,266
	110,794		Humana, Inc		20,270

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,376	*	ICU Medical, Inc	$	1,080
	69,037	*	Idexx Laboratories, Inc		5,407
	6,460	*,e	Imprivata, Inc		82
	98,565	*	IMS Health Holdings, Inc		2,617
	11,764	*	Inogen Inc		529
	18,510	*,e	Inovalon Holdings, Inc		343
	41,898	*	Insulet Corp		1,389
	18,839	*	Integra LifeSciences Holdings Corp		1,269
	27,216	*	Intuitive Surgical, Inc		16,358
	23,110	e	Invacare Corp		304
	19,324	*,e	InVivo Therapeutics Holdings Corp		135
	4,264	*,e	Invuity, Inc		31
	2,271	*,e	iRadimed Corp		43
	12,742	*	K2M Group Holdings, Inc		189
	61,383		Kindred Healthcare, Inc		758
	72,759	*	Laboratory Corp of America Holdings		8,522
	7,415		Landauer, Inc		245
	12,000	*,e	Lantheus Holdings, Inc		23
	17,363	*	LDR Holding Corp		443
	9,523		LeMaitre Vascular, Inc		148
	9,839	*	LHC Group, Inc		350
	32,789	*	LifePoint Hospitals, Inc		2,271
	31,727	*	LivaNova plc		1,713
	20,368	*	Magellan Health Services, Inc		1,384
	32,545	*	Masimo Corp		1,362
	168,452		McKesson Corp		26,489
	40,806	*	Medidata Solutions, Inc		1,580
	69,267	*	MEDNAX, Inc		4,476
	1,044,195		Medtronic plc		78,314
	31,965		Meridian Bioscience, Inc		659
	32,366	*	Merit Medical Systems, Inc		598
	26,015	*	Molina Healthcare, Inc		1,678
	7,753		National Healthcare Corp		483
	5,598		National Research Corp		87
	24,197	*	Natus Medical, Inc		930
	27,729	*	Neogen Corp		1,396
	11,308	*,e	Nevro Corp		636
	23,606	*,e	Nobilis Health Corp		74
	9,688	*,e	Novocure Ltd		140
	35,423	*	NuVasive, Inc		1,723
	6,291	*	Nuvectra Corp		34
	45,234	*	NxStage Medical, Inc		678
	27,483	*	Omnicell, Inc		766
	36,642	*	OraSure Technologies, Inc		265
	14,876	*	Orthofix International NV		618
	48,050		Owens & Minor, Inc		1,942
	14,688	*,e	Oxford Immunotec Global plc		146
	64,882		Patterson Cos, Inc		3,019
	22,536	*	PharMerica Corp		498
	27,598	*	Premier, Inc		921
	7,642	*	Press Ganey Holdings, Inc		230
	10,213	*	Providence Service Corp		522

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	37,773		Quality Systems, Inc	$	576
	106,327		Quest Diagnostics, Inc		7,597
	21,781	*	Quidel Corp		376
	25,914	*	RadNet, Inc		125
	104,174		Resmed, Inc		6,023
	37,335	*,e	Rockwell Medical, Inc		280
	38,631	*	RTI Biologics, Inc		155
	6,279	*	SeaSpine Holdings Corp		92
	8,571	*,e	Second Sight Medical Products, Inc		41
	77,335		Select Medical Holdings Corp		913
	30,482	*,e	Spectranetics Corp		443
	208,009		St. Jude Medical, Inc		11,440
	26,141	*,e	Staar Surgical Co		193
	61,285		STERIS plc		4,354
	249,845		Stryker Corp		26,806
	11,357	*,e	Surgery Partners, Inc		151
	16,030	*	Surgical Care Affiliates, Inc		742
	11,439	*	SurModics, Inc		211
	13,125	*,e	Tandem Diabetes Care, Inc		114
	53,159	*,e	Team Health Holdings, Inc		2,223
	6,676	*,e	Teladoc, Inc		64
	30,961	e	Teleflex, Inc		4,861
	73,295	*	Tenet Healthcare Corp		2,120
	20,401	*,e	TransEnterix, Inc		87
	18,039	*	Triple-S Management Corp (Class B)		448
	14,056	*,e	Trupanion, Inc		138
	90,289	*,e	Unilife Corp		61
	697,057		UnitedHealth Group, Inc		89,851
	37,008		Universal American Corp		264
	67,876		Universal Health Services, Inc (Class B)		8,465
	9,158		US Physical Therapy, Inc		455
	2,349		Utah Medical Products, Inc		147
	73,882	*	Varian Medical Systems, Inc		5,912
	12,709	*	Vascular Solutions, Inc		413
	61,078	*	VCA Antech, Inc		3,524
	52,333	*,e	Veeva Systems, Inc		1,310
	10,409	*,e	Veracyte, Inc		56
	15,934	*	Vocera Communications, Inc		203
	32,655	*	WellCare Health Plans, Inc		3,029
	52,696		West Pharmaceutical Services, Inc		3,653
	66,153	*	Wright Medical Group NV		1,098
	23,878	*,e	Zeltiq Aesthetics, Inc		649
	125,690		Zimmer Holdings, Inc		13,402
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		818,261
HOUSEHOLD & PERSONAL PRODUCTS - 1.9%
	323,551		Avon Products, Inc		1,556
	31,484	*	Central Garden and Pet Co (Class A)		513
	92,822		Church & Dwight Co, Inc		8,556
	93,795		Clorox Co		11,824
	667,414		Colgate-Palmolive Co		47,153
	61,432	e	Coty, Inc		1,710

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	46,250		Edgewell Personal Care Co	$	3,724
	18,991	*,e	Elizabeth Arden, Inc		155
	46,250		Energizer Holdings, Inc		1,874
	155,113		Estee Lauder Cos (Class A)		14,629
	54,206	*,e	Herbalife Ltd		3,337
	56,570	*	HRG Group, Inc		788
	12,258		Inter Parfums, Inc		379
	265,004		Kimberly-Clark Corp		35,646
	8,647		Medifast, Inc		261
	5,685	e	Natural Health Trends Corp		188
	5,868		Nature’s Sunshine Products, Inc		56
	43,341	e	Nu Skin Enterprises, Inc (Class A)		1,658
	6,693	*	Nutraceutical International Corp		163
	3,981		Oil-Dri Corp of America		134
	6,476	e	Orchids Paper Products Co		178
	1,990,504		Procter & Gamble Co		163,839
	8,319	*	Revlon, Inc (Class A)		303
	18,325		Spectrum Brands, Inc		2,003
	4,308	*,e	USANA Health Sciences, Inc		523
	10,793		WD-40 Co		1,166
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		302,316
INSURANCE - 4.0%
	320,815		Aflac, Inc		20,256
	11,198	*	Alleghany Corp		5,556
	70,615		Allied World Assurance Co Holdings Ltd		2,467
	284,556		Allstate Corp		19,171
	32,256	*	AMBAC Financial Group, Inc		510
	56,412		American Equity Investment Life Holding Co		948
	51,139		American Financial Group, Inc		3,599
	849,766		American International Group, Inc		45,930
	5,469	e	American National Insurance Co		632
	13,468		Amerisafe, Inc		708
	54,870		Amtrust Financial Services, Inc		1,420
	208,448		Aon plc		21,772
	92,386	*	Arch Capital Group Ltd		6,569
	20,996		Argo Group International Holdings Ltd		1,205
	124,079		Arthur J. Gallagher & Co		5,519
	45,798		Aspen Insurance Holdings Ltd		2,185
	50,146		Assurant, Inc		3,869
	111,748		Assured Guaranty Ltd		2,827
	8,461	*	Atlas Financial Holdings, Inc		153
	74,802		Axis Capital Holdings Ltd		4,148
	6,904		Baldwin & Lyons, Inc (Class B)		170
	1,366,346	*	Berkshire Hathaway, Inc (Class B)		193,857
	86,667		Brown & Brown, Inc		3,103
	340,270		Chubb Ltd		40,543
	121,446		Cincinnati Financial Corp		7,938
	32,879	*,e	Citizens, Inc (Class A)		238
	19,762		CNA Financial Corp		636
	145,352		Conseco, Inc		2,605
	19,001		Crawford & Co (Class B)		123

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,812		Donegal Group, Inc (Class A)	$	112
	6,754		EMC Insurance Group, Inc		173
	24,104		Employers Holdings, Inc		678
	46,342		Endurance Specialty Holdings Ltd		3,028
	6,955	*	Enstar Group Ltd		1,131
	18,735		Erie Indemnity Co (Class A)		1,742
	32,825		Everest Re Group Ltd		6,481
	8,273		FBL Financial Group, Inc (Class A)		509
	10,321		Federated National Holding Co		203
	8,299		Fidelity & Guaranty Life		218
	80,939		First American Financial Corp		3,085
	207,557		FNF Group		7,036
	368,772	*	Genworth Financial, Inc (Class A)		1,007
	20,683	*	Greenlight Capital Re Ltd (Class A)		451
	7,438	*	Hallmark Financial Services		86
	32,615		Hanover Insurance Group, Inc		2,943
	310,194		Hartford Financial Services Group, Inc		14,294
	6,789	e	HCI Group, Inc		226
	18,411		Heritage Insurance Holdings, Inc		294
	29,606		Horace Mann Educators Corp		938
	5,951		Independence Holding Co		95
	8,975		Infinity Property & Casualty Corp		722
	6,910		James River Group Holdings Ltd		223
	32,110		Kemper Corp		949
	187,295		Lincoln National Corp		7,342
	209,159		Loews Corp		8,002
	34,934	e	Maiden Holdings Ltd		452
	10,352	*	Markel Corp		9,230
	394,471		Marsh & McLennan Cos, Inc		23,980
	110,912	*,e	MBIA, Inc		982
	20,342		Mercury General Corp		1,129
	685,931		Metlife, Inc		30,140
	27,288		National General Holdings Corp		589
	6,453		National Interstate Corp		193
	1,551		National Western Life Group, Inc		358
	8,338	*	Navigators Group, Inc		699
	193,444		Old Republic International Corp		3,536
	17,609		OneBeacon Insurance Group Ltd (Class A)		224
	6,329	*,e	Patriot National, Inc		49
	40,061	e	Primerica, Inc		1,784
	217,660		Principal Financial Group		8,587
	41,338		ProAssurance Corp		2,092
	434,063		Progressive Corp		15,253
	329,057		Prudential Financial, Inc		23,764
	48,945		Reinsurance Group of America, Inc (Class A)		4,711
	34,077		RenaissanceRe Holdings Ltd		4,083
	32,282		RLI Corp		2,158
	11,093		Safety Insurance Group, Inc		633
	42,211		Selective Insurance Group, Inc		1,545
	11,039		State Auto Financial Corp		243
	21,827		State National Cos, Inc		275
	16,901		Stewart Information Services Corp		613

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	59,998	*	Third Point Reinsurance Ltd	$	682
	93,324		Torchmark Corp		5,054
	216,857		Travelers Cos, Inc		25,309
	6,929	*	United America Indemnity Ltd		216
	14,881		United Fire & Casualty Co		652
	12,682		United Insurance Holdings Corp		244
	22,242	e	Universal Insurance Holdings, Inc		396
	184,517		UnumProvident Corp		5,705
	62,445		Validus Holdings Ltd		2,947
	71,842		W.R. Berkley Corp		4,037
	4,504		White Mountains Insurance Group Ltd		3,615
	225,629		XL Capital Ltd		8,303
			TOTAL INSURANCE		655,087
MATERIALS - 3.2%
	22,177		A. Schulman, Inc		604
	3,376		AEP Industries, Inc		223
	158,806		Air Products & Chemicals, Inc		22,876
	50,241		Airgas, Inc		7,116
	168,607	*,e	AK Steel Holding Corp		696
	83,129		Albemarle Corp		5,314
	967,634	e	Alcoa, Inc		9,270
	81,466	e	Allegheny Technologies, Inc		1,328
	20,501		American Vanguard Corp		323
	46,295		Aptargroup, Inc		3,630
	48,000		Ashland, Inc		5,278
	67,355		Avery Dennison Corp		4,857
	74,323	*	Axalta Coating Systems Ltd		2,170
	52,910		Axiall Corp		1,156
	23,190		Balchem Corp		1,438
	102,049		Ball Corp		7,275
	72,213		Bemis Co, Inc		3,739
	87,729	*	Berry Plastics Group, Inc		3,171
	29,817	*	Boise Cascade Co		618
	46,890		Cabot Corp		2,266
	39,299		Calgon Carbon Corp		551
	37,181	e	Carpenter Technology Corp		1,273
	112,973		Celanese Corp (Series A)		7,400
	36,798	*,e	Century Aluminum Co		259
	169,311		CF Industries Holdings, Inc		5,306
	5,158		Chase Corp		271
	133,935		Chemours Co		938
	49,786	*	Chemtura		1,314
	14,061	*	Clearwater Paper Corp		682
	66,499	*,e	Cliffs Natural Resources, Inc		199
	99,412	*,e	Coeur Mining, Inc		559
	85,866		Commercial Metals Co		1,457
	25,270	e	Compass Minerals International, Inc		1,791
	5,560	*	Core Molding Technologies, Inc		69
	102,511	*	Crown Holdings, Inc		5,084
	8,022		Deltic Timber Corp		483
	47,043		Domtar Corp		1,905

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	816,059		Dow Chemical Co	$	41,505
	37,135		Eagle Materials, Inc		2,604
	109,907		Eastman Chemical Co		7,939
	195,224		Ecolab, Inc		21,771
	665,318		EI du Pont de Nemours & Co		42,128
	55,318	*	Ferro Corp		657
	47,286		Ferroglobe plc		417
	40,724	*,e	Flotek Industries, Inc		298
	98,927	e	FMC Corp		3,994
	921,122	e	Freeport-McMoRan Copper & Gold, Inc (Class B)		9,524
	17,819		FutureFuel Corp		210
	53,794	*	GCP Applied Technologies, Inc		1,073
	241,385		Graphic Packaging Holding Co		3,102
	22,699		Greif, Inc (Class A)		743
	37,440		H.B. Fuller Co		1,589
	1,617	*	Handy & Harman Ltd		44
	7,923		Hawkins, Inc		286
	9,402		Haynes International, Inc		343
	54,162	*	Headwaters, Inc		1,075
	262,218	e	Hecla Mining Co		729
	152,705		Huntsman Corp		2,031
	15,371		Innophos Holdings, Inc		475
	18,027		Innospec, Inc		782
	59,560		International Flavors & Fragrances, Inc		6,776
	311,342		International Paper Co		12,777
	40,015	*	Intrepid Potash, Inc		44
	12,642		Kaiser Aluminum Corp		1,069
	62,146		Kapstone Paper and Packaging Corp		861
	7,156		KMG Chemicals, Inc		165
	16,539	*	Koppers Holdings, Inc		372
	24,388	*	Kraton Polymers LLC		422
	14,288	e	Kronos Worldwide, Inc		82
	104,108	*	Louisiana-Pacific Corp		1,782
	13,887	*	LSB Industries, Inc		177
	269,088		LyondellBasell Industries AF S.C.A		23,029
	49,814		Martin Marietta Materials, Inc		7,946
	14,781		Materion Corp		391
	25,740		Minerals Technologies, Inc		1,463
	323,697		Monsanto Co		28,401
	257,110		Mosaic Co		6,942
	18,118		Myers Industries, Inc		233
	12,153		Neenah Paper, Inc		774
	6,272		NewMarket Corp		2,485
	370,400		Newmont Mining Corp		9,845
	236,068		Nucor Corp		11,166
	121,769		Olin Corp		2,115
	6,559		Olympic Steel, Inc		114
	32,453	*	Omnova Solutions, Inc		180
	119,497	*	Owens-Illinois, Inc		1,907
	72,328		Packaging Corp of America		4,369
	32,454		PH Glatfelter Co		673
	88,664	*,e	Platform Specialty Products Corp		763

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	65,927		PolyOne Corp	$	1,994
	201,126		PPG Industries, Inc		22,424
	213,261		Praxair, Inc		24,408
	9,804		Quaker Chemical Corp		832
	31,957		Rayonier Advanced Materials, Inc		304
	18,294	*	Real Industry, Inc		159
	54,821		Reliance Steel & Aluminum Co		3,793
	20,109	*,e	Rentech, Inc		45
	48,353		Royal Gold, Inc		2,480
	98,420		RPM International, Inc		4,658
	8,418	*,e	Ryerson Holding Corp		47
	19,399		Schnitzer Steel Industries, Inc (Class A)		358
	22,501		Schweitzer-Mauduit International, Inc		708
	33,262		Scotts Miracle-Gro Co (Class A)		2,420
	148,491		Sealed Air Corp		7,129
	31,811	*,e	Senomyx, Inc		83
	34,512		Sensient Technologies Corp		2,190
	59,894		Sherwin-Williams Co		17,050
	30,199		Silgan Holdings, Inc		1,606
	74,719		Sonoco Products Co		3,629
	84,463	e	Southern Copper Corp (NY)		2,340
	177,911		Steel Dynamics, Inc		4,005
	13,671		Stepan Co		756
	90,832	*,e	Stillwater Mining Co		967
	19,023	*	Summit Materials, Inc		370
	48,451		SunCoke Energy, Inc		315
	117,929	e	Tahoe Resources, Inc		1,183
	29,755	e	TimkenSteel Corp		271
	15,246	*	Trecora Resources		147
	19,671		Tredegar Corp		309
	8,747	*,e	Trinseo S.A.		322
	46,070	e	Tronox Ltd		294
	1,357		United States Lime & Minerals, Inc		81
	108,110	e	United States Steel Corp		1,735
	10,188	*	US Concrete, Inc		607
	10,310	e	Valhi, Inc		12
	60,139		Valspar Corp		6,436
	98,368		Vulcan Materials Co		10,385
	29,816		Westlake Chemical Corp		1,380
	193,160		WestRock Co		7,539
	35,509	*	Worthington Industries, Inc		1,266
	53,794	*	WR Grace & Co		3,829
			TOTAL MATERIALS		524,397
MEDIA - 3.2%
	16,000		AMC Entertainment Holdings, Inc		448
	44,802	*	AMC Networks, Inc		2,909
	2,614		Cable One, Inc		1,143
	149,949		Cablevision Systems Corp (Class A)		4,948
	17,686	*	Carmike Cinemas, Inc		531
	337,930		CBS Corp (Class B)		18,617
	57,360	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		146

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	55,580	*,e	Charter Communications, Inc	$	11,251
	86,069		Cinemark Holdings, Inc		3,084
	28,047	e	Clear Channel Outdoor Holdings, Inc (Class A)		132
	1,837,438		Comcast Corp (Class A)		112,231
	27,056	*	Crown Media Holdings, Inc (Class A)		137
	772	*,e	Daily Journal Corp		151
	115,291	*,e	Discovery Communications, Inc (Class A)		3,301
	202,766	*	Discovery Communications, Inc (Class C)		5,475
	160,944		DISH Network Corp (Class A)		7,445
	56,592	*,e	DreamWorks Animation SKG, Inc (Class A)		1,412
	18,269	*	Entercom Communications Corp (Class A)		193
	50,932		Entravision Communications Corp (Class A)		379
	44,238		EW Scripps Co (Class A)		690
	83,857		Gannett Co, Inc		1,270
	34,321	*,e	Global Eagle Entertainment, Inc		292
	46,930	*	Gray Television, Inc		550
	33,505		Harte-Hanks, Inc		85
	6,780	*	Hemisphere Media Group, Inc		89
	44,682	*	Imax Corp		1,389
	305,436		Interpublic Group of Cos, Inc		7,010
	33,807		John Wiley & Sons, Inc (Class A)		1,653
	14,173		Journal Media Group, Inc		170
	19,204	*	Liberty Broadband Corp (Class A)		1,117
	49,114	*	Liberty Broadband Corp (Class C)		2,846
	76,559	*	Liberty Media Corp		2,957
	148,129	*	Liberty Media Corp (Class C)		5,642
	70,064	e	Lions Gate Entertainment Corp		1,531
	108,249	*	Live Nation, Inc		2,415
	9,932	*	Loral Space & Communications, Inc		349
	15,311	*	Madison Square Garden Co		2,547
	32,196	e	MDC Partners, Inc		760
	71,050	*	Media General, Inc		1,159
	26,535		Meredith Corp		1,260
	45,934	*	MSG Networks, Inc		794
	46,358		National CineMedia, Inc		705
	32,024		New Media Investment Group, Inc		533
	101,324		New York Times Co (Class A)		1,262
	283,916		News Corp		3,626
	86,319	e	News Corp (Class B)		1,144
	23,355	e	Nexstar Broadcasting Group, Inc (Class A)		1,034
	180,613		Omnicom Group, Inc		15,032
	12,373	*	Reading International, Inc		148
	60,087	e	Regal Entertainment Group (Class A)		1,270
	3,654		Saga Communications, Inc		146
	19,984		Scholastic Corp		747
	68,018		Scripps Networks Interactive (Class A)		4,455
	49,336	e	Sinclair Broadcast Group, Inc (Class A)		1,517
	1,706,491	e	Sirius XM Holdings, Inc		6,741
	20,194	*	Sizmek, Inc		59
	63,623	*	Starz-Liberty Capital		1,675
	167,714		TEGNA, Inc		3,935
	243,854		Thomson Corp		9,871

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	206,478		Time Warner Cable, Inc	$	42,250
	605,798		Time Warner, Inc		43,951
	81,058		Time, Inc		1,252
	5,104	*	Townsquare Media, Inc		57
	59,545		Tribune Co		2,284
	19,202		Tribune Publishing Co		148
	823,226		Twenty-First Century Fox, Inc		22,952
	357,708		Twenty-First Century Fox, Inc (Class B)		10,087
	7,706		Viacom, Inc		349
	256,908		Viacom, Inc (Class B)		10,605
	1,244,744		Walt Disney Co		123,615
	21,644	e	World Wrestling Entertainment, Inc (Class A)		382
			TOTAL MEDIA		522,340
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.5%
	1,217,272		AbbVie, Inc		69,530
	7,650	*,e	Abeona Therapeutics, Inc		20
	58,718	*,e	Acadia Pharmaceuticals, Inc		1,642
	16,937	*	Accelerate Diagnostics, Inc		243
	16,140	*	Acceleron Pharma, Inc		426
	86,253	*	Achillion Pharmaceuticals, Inc		666
	31,389	*	Acorda Therapeutics, Inc		830
	7,362	*,e	Adamas Pharmaceuticals, Inc		106
	6,223	*,e	Aduro Biotech, Inc		80
	22,408	*,e	Advaxis, Inc		202
	18,868	*,e	Aegerion Pharmaceuticals, Inc		70
	14,774	*,e	Aerie Pharmaceuticals, Inc		180
	11,005	*,e	Affimed NV		41
	56,476	*	Affymetrix, Inc		791
	56,789	*,e	Agenus, Inc		236
	7,692	*	Agile Therapeutics, Inc		48
	246,217		Agilent Technologies, Inc		9,812
	19,149	*,e	Agios Pharmaceuticals, Inc		777
	7,862	*,e	Aimmune Therapeutics, Inc		107
	17,982	*	Akebia Therapeutics, Inc		162
	57,933	*,e	Akorn, Inc		1,363
	17,375	*,e	Albany Molecular Research, Inc		266
	15,261	*	Alder Biopharmaceuticals, Inc		374
	159,574	*	Alexion Pharmaceuticals, Inc		22,216
	27,483	*,e	Alimera Sciences, Inc		48
	109,475	*	Alkermes plc		3,743
	288,609	*	Allergan plc		77,356
	54,942	*	Alnylam Pharmaceuticals, Inc		3,449
	22,606	*,e	AMAG Pharmaceuticals, Inc		529
	559,100		Amgen, Inc		83,826
	71,461	*,e	Amicus Therapeutics, Inc		604
	23,308	*,e	Amphastar Pharmaceuticals, Inc		280
	30,297	*,e	Anacor Pharmaceuticals, Inc		1,619
	5,767	*,e	ANI Pharmaceuticals, Inc		194
	26,005	*,e	Anthera Pharmaceuticals, Inc		94
	6,215	*	Applied Genetic Technologies Corp		87
	21,766	*,e	Aralez Pharmaceuticals, Inc		77

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	22,162	*,e	Aratana Therapeutics, Inc	$	122
	9,150	*	Ardelyx, Inc		71
	179,094	*,e	Arena Pharmaceuticals, Inc		353
	121,910	*	Ariad Pharmaceuticals, Inc		779
	103,770	*,e	Array Biopharma, Inc		306
	39,456	*,e	Arrowhead Research Corp		190
	10,432	*,e	Assembly Biosciences, Inc		52
	10,635	*,e	Atara Biotherapeutics, Inc		202
	4,770	*,e	aTyr Pharma, Inc		19
	14,848	*	Avalanche Biotechnologies, Inc		77
	9,616	*,e	Axovant Sciences Ltd		110
	401,924		Baxalta, Inc		16,238
	6,155	*,e	Bellicum Pharmaceuticals, Inc		58
	53,741	*,e	BioCryst Pharmaceuticals, Inc		152
	33,888	*,e	BioDelivery Sciences International, Inc		109
	163,918	*	Biogen Idec, Inc		42,671
	118,693	*	BioMarin Pharmaceutical, Inc		9,790
	15,517	*	Bio-Rad Laboratories, Inc (Class A)		2,121
	2,967	*	Biospecifics Technologies Corp		103
	28,168		Bio-Techne Corp		2,662
	37,736	*,e	BioTime, Inc		108
	24,301	*,e	Bluebird Bio, Inc		1,033
	6,702	*	Blueprint Medicines Corp		121
	1,228,895		Bristol-Myers Squibb Co		78,502
	83,145		Bruker BioSciences Corp		2,328
	11,074	*,e	Calithera Biosciences, Inc		63
	23,380	*	Cambrex Corp		1,029
	12,327	*	Cara Therapeutics Inc		77
	61,808	*	Catalent, Inc		1,648
	56,829	*,e	Catalyst Pharmaceuticals, Inc		66
	584,924	*	Celgene Corp		58,545
	73,063	*,e	Celldex Therapeutics, Inc		276
	7,210	*	Cellular Biomedicine Group, Inc		134
	23,546	*,e	Cempra, Inc		413
	52,661	*	Cepheid, Inc		1,757
	35,378	*	Charles River Laboratories International, Inc		2,687
	18,304	*,e	ChemoCentryx, Inc		46
	5,155	*,e	Chiasma, Inc		47
	30,594	*,e	Chimerix, Inc		156
	3,472	*,e	Cidara Therapeutics, Inc		44
	18,781	*,e	Clovis Oncology, Inc		361
	17,405	*,e	Coherus Biosciences, Inc		370
	4,897	*,e	Collegium Pharmaceutical, Inc		89
	11,239	*	Concert Pharmaceuticals Inc		154
	47,385	*,e	Corcept Therapeutics, Inc		222
	6,306	*,e	Corium International, Inc		24
	22,172	*,e	CorMedix, Inc		59
	84,568	*	Curis, Inc		136
	25,879	*,e	Cytokinetics, Inc		182
	41,833	*,e	CytRx Corp		112
	44,278	*,e	Depomed, Inc		617
	9,514	*	Dermira, Inc		197

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,644	*,e	Dicerna Pharmaceuticals Inc	$	62
	84,059	*	Durect Corp		113
	21,309	*,e	Dynavax Technologies Corp		410
	6,368	*,e	Eagle Pharmaceuticals, Inc		258
	721,760		Eli Lilly & Co		51,974
	22,262	*	Emergent Biosolutions, Inc		809
	11,786	*,e	Enanta Pharmaceuticals, Inc		346
	166,464	*	Endo International plc		4,686
	33,769	*,e	Endocyte, Inc		105
	21,724	*,e	Epizyme, Inc		263
	9,694	*,e	Esperion Thereapeutics, Inc		164
	65,830	*,e	Exact Sciences Corp		444
	147,155	*,e	Exelixis, Inc		589
	18,106	*	Fibrocell Science, Inc		45
	35,519	*	FibroGen, Inc		756
	15,788	*	Five Prime Therapeutics, Inc		641
	4,405	*,e	Flex Pharma, Inc		48
	10,288	*	Flexion Therapeutics Inc		95
	20,851	*,e	Fluidigm Corp		168
	16,469	*,e	Foamix Pharmaceuticals Ltd		107
	8,878	*,e	Foundation Medicine, Inc		161
	102,537	*,e	Galena Biopharma, Inc		139
	13,105	*,e	Genocea Biosciences Inc		101
	12,920	*	Genomic Health, Inc		320
	114,325	*,e	Geron Corp		334
	1,007,530		Gilead Sciences, Inc		92,552
	4,732	*,e	Global Blood Therapeutics, Inc		75
	79,065	*,e	Halozyme Therapeutics, Inc		749
	26,328	*	Harvard Bioscience, Inc		80
	18,140	*,e	Heron Therapeutics, Inc		344
	4,132	*	Heska Corp		118
	62,986	*,e	Idera Pharmaceuticals, Inc		125
	13,776	*	Ignyta, Inc		93
	106,486	*	Illumina, Inc		17,262
	8,484	*,e	Immune Design Corp		110
	65,469	*	Immunogen, Inc		558
	78,549	*,e	Immunomedics, Inc		196
	53,162	*	Impax Laboratories, Inc		1,702
	9,540	*	INC Research Holdings, Inc		393
	115,686	*	Incyte Corp		8,384
	36,466	*	Infinity Pharmaceuticals, Inc		192
	63,139	e	Innoviva, Inc		795
	53,727	*,e	Inovio Pharmaceuticals, Inc		468
	45,452	*	Insmed, Inc		576
	17,481	*,e	Insys Therapeutics, Inc		280
	11,788	*,e	Intercept Pharmaceuticals, Inc		1,514
	10,253	*,e	Intersect ENT, Inc		195
	16,262	*	Intra-Cellular Therapies, Inc		452
	34,324	*,e	Intrexon Corp		1,163
	5,678	*,e	Invitae Corp		58
	89,084	*,e	Ionis Pharmaceuticals, Inc		3,608
	90,684	*,e	Ironwood Pharmaceuticals, Inc		992

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	45,128	*	Jazz Pharmaceuticals plc	$	5,891
	2,044,683		Johnson & Johnson		221,235
	8,823	*,e	Juno Therapeutics, Inc		336
	17,078	*,e	Karyopharm Therapeutics, Inc		152
	76,288	*,e	Keryx Biopharmaceuticals, Inc		356
	21,397	*,e	Kite Pharma, Inc		982
	8,512	*,e	La Jolla Pharmaceutical Co		178
	19,506	*,e	Lannett Co, Inc		350
	30,110	*,e	Lexicon Pharmaceuticals, Inc		360
	13,029	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,395
	34,093	*,e	Lion Biotechnologies, Inc		173
	6,253	*,e	Loxo Oncology, Inc		171
	31,134	*	Luminex Corp		604
	20,612	*	MacroGenics, Inc		386
	86,464	*	Mallinckrodt plc		5,299
	11,438	*,e	Medgenics, Inc		50
	48,124	*	Medicines Co		1,529
	115,846		Medivation, Inc		5,327
	2,072,781		Merck & Co, Inc		109,671
	80,764	*,e	Merrimack Pharmaceuticals, Inc		676
	19,968	*	Mettler-Toledo International, Inc		6,884
	79,969	*,e	MiMedx Group, Inc		699
	7,201	*,e	Mirati Therapeutics, Inc		154
	44,870	*	Momenta Pharmaceuticals, Inc		415
	310,615	*	Mylan NV		14,397
	51,930	*	Myriad Genetics, Inc		1,944
	7,890	*,e	NanoString Technologies, Inc		120
	5,834	*,e	NantKwest, Inc		48
	6,000	*,e	Natera, Inc		57
	97,156	*,e	Navidea Biopharmceuticals, Inc		92
	96,260	*,e	Nektar Therapeutics		1,324
	38,546	*	NeoGenomics, Inc		260
	4,046	*,e	Neos Therapeutics, Inc		44
	63,342	*	Neurocrine Biosciences, Inc		2,505
	14,869	*,e	NewLink Genetics Corp		271
	4,099	*	Nivalis Therapeutics, Inc		17
	33,967	*,e	Northwest Biotherapeutics, Inc		50
	197,815	*,e	Novavax, Inc		1,021
	9,516	*,e	Ocular Therapeutix, Inc		92
	26,874	*,e	Omeros Corp		412
	1,885	*,e	Oncocyte Corp		9
	12,341	*,e	OncoMed Pharmaceuticals, Inc		125
	75,642	*,e	Oncothyreon, Inc		96
	17,449	*,e	Ophthotech Corp		738
	221,994	*,e	Opko Health, Inc		2,307
	77,365	*,e	Orexigen Therapeutics, Inc		44
	60,008	*,e	Organovo Holdings, Inc		130
	12,630	e	Osiris Therapeutics, Inc		72
	11,187	*	Otonomy, Inc		167
	17,337	*,e	OvaScience, Inc		165
	50,411	*,e	Pacific Biosciences of California, Inc		429
	27,071	*	Pacira Pharmaceuticals, Inc		1,434

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,271	e	Paratek Pharmaceuticals, Inc	$	141
	40,956	*	Parexel International Corp		2,569
	120,653		PDL BioPharma, Inc		402
	146,742	*,e	Peregrine Pharmaceuticals, Inc		62
	83,937		PerkinElmer, Inc		4,152
	32,300	*,e	Pernix Therapeutics Holdings, Inc		34
	106,521		Perrigo Co plc		13,627
	12,158	*	Pfenex, Inc		120
	4,522,998		Pfizer, Inc		134,061
	12,927		Phibro Animal Health Corp		350
	34,344	*	Portola Pharmaceuticals, Inc		701
	14,756	*	PRA Health Sciences, Inc		631
	38,233	*	Prestige Brands Holdings, Inc		2,041
	51,583	*	Progenics Pharmaceuticals, Inc		225
	5,400	*,e	Proteon Therapeutics, Inc		42
	23,023	*,e	Prothena Corp plc		948
	25,096	*,e	PTC Therapeutics, Inc		162
	18,465	*,e	Puma Biotechnology, Inc		542
	173,674	*	Qiagen NV (NASDAQ)		3,880
	58,607	*	Quintiles Transnational Holdings, Inc		3,815
	21,547	*,e	Radius Health, Inc		677
	59,500	*	Raptor Pharmaceutical Corp		274
	58,043	*	Regeneron Pharmaceuticals, Inc		20,921
	21,191	*,e	Regulus Therapeutics, Inc		147
	24,090	*,e	Relypsa, Inc		326
	23,464	*	Repligen Corp		629
	25,726	*,e	Retrophin, Inc		351
	11,732	*,e	Revance Therapeutics, Inc		205
	66,996	*	Rigel Pharmaceuticals, Inc		139
	10,302	*,e	Sage Therapeutics, Inc		330
	16,776	*	Sagent Pharmaceuticals		204
	52,234	*,e	Sangamo Biosciences, Inc		316
	30,737	*,e	Sarepta Therapeutics, Inc		600
	38,141	*	Sciclone Pharmaceuticals, Inc		420
	70,472	*,e	Seattle Genetics, Inc		2,473
	87,069	*,e	Sequenom, Inc		123
	5,728	*,e	Seres Therapeutics, Inc		152
	20,814	*,e	Sorrento Therapeutics, Inc		112
	6,016	*,e	Spark Therapeutics, Inc		178
	47,540	*,e	Spectrum Pharmaceuticals, Inc		302
	12,168	*,e	Stemline Therapeutics, Inc		57
	18,349	*	Sucampo Pharmaceuticals, Inc (Class A)		201
	25,007	*	Supernus Pharmaceuticals, Inc		381
	74,731	*,e	Synergy Pharmaceuticals, Inc		206
	7,419	*,e	T2 Biosystems, Inc		73
	29,885	*,e	Teligent, Inc		146
	17,169	*,e	TESARO, Inc		756
	26,726	*	Tetraphase Pharmaceuticals, Inc		124
	26,551	*,e	TG Therapeutics, Inc		226
	93,869	*,e	TherapeuticsMD, Inc		601
	17,111	*,e	Theravance Biopharma, Inc		322
	290,044		Thermo Electron Corp		41,067

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,534	*,e	Tokai Pharmaceuticals, Inc	$	42
	18,278	*	Trevena, Inc		151
	17,931	*,e	Trovagene, Inc		83
	26,573	*	Ultragenyx Pharmaceutical, Inc		1,682
	34,318	*	United Therapeutics Corp		3,824
	31,086	*,e	Vanda Pharmaceuticals, Inc		260
	24,013	*,e	Verastem, Inc		38
	16,572	*,e	Versartis, Inc		133
	180,359	*	Vertex Pharmaceuticals, Inc		14,337
	12,289	*,e	Vital Therapies, Inc		111
	74,791	*,e	Vivus, Inc		105
	21,461	*	VWR Corp		581
	60,895	*	Waters Corp		8,033
	2,602	*	XBiotech, Inc		25
	20,918	*	Xencor Inc		281
	42,869	*,e	Xenoport, Inc		193
	12,439	*,e	Zafgen, Inc		83
	82,699	*,e	ZIOPHARM Oncology, Inc		614
	370,295		Zoetis Inc		16,415
	14,763	*	Zogenix, Inc		136
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,386,368
REAL ESTATE - 4.4%
	50,948		Acadia Realty Trust		1,790
	21,134		AG Mortgage Investment Trust		276
	12,770		Agree Realty Corp		491
	36,954		Alexander & Baldwin, Inc		1,355
	1,574		Alexander’s, Inc		599
	53,568		Alexandria Real Estate Equities, Inc		4,869
	675	*,e	Altisource Asset Management Corp		8
	11,088	*,e	Altisource Portfolio Solutions S.A.		268
	42,959	e	Altisource Residential Corp		515
	27,018		American Assets Trust,Inc		1,079
	82,450		American Campus Communities, Inc		3,883
	251,142		American Capital Agency Corp		4,679
	37,896		American Capital Mortgage, Inc		556
	147,713		American Homes 4 Rent		2,349
	312,963		American Tower Corp		32,038
	664,625		Annaly Capital Management, Inc		6,819
	79,133		Anworth Mortgage Asset Corp		369
	115,722		Apartment Investment & Management Co (Class A)		4,839
	41,641	e	Apollo Commercial Real Estate Finance, Inc		679
	136,432	e	Apple Hospitality REIT, Inc		2,703
	22,112		Ares Commercial Real Estate Corp		242
	18,360		Armada Hoffler Properties, Inc		207
	32,704	e	ARMOUR Residential REIT, Inc		704
	20,771		Ashford Hospitality Prime, Inc		242
	61,750		Ashford Hospitality Trust, Inc		394
	7,072	*,e	AV Homes, Inc		80
	97,771		AvalonBay Communities, Inc		18,596
	13,459	e	Bluerock Residential Growth REIT, Inc		146
	113,963		Boston Properties, Inc		14,482

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	132,520		Brandywine Realty Trust	$	1,859
	127,668		Brixmor Property Group, Inc		3,271
	64,335		Camden Property Trust		5,410
	71,072		Capstead Mortgage Corp		703
	61,176		Care Capital Properties, Inc		1,642
	23,659		CareTrust REIT, Inc		300
	29,192		CatchMark Timber Trust Inc		316
	124,137		CBL & Associates Properties, Inc		1,477
	212,369	*	CBRE Group, Inc		6,120
	62,949		Cedar Realty Trust, Inc		455
	28,285		Chatham Lodging Trust		606
	44,088		Chesapeake Lodging Trust		1,167
	143,224		Chimera Investment Corp		1,946
	80,158		Colony Financial, Inc		1,344
	28,357		Colony Starwood Homes		702
	92,725		Columbia Property Trust, Inc		2,039
	90,140		Communications Sales & Leasing, Inc		2,006
	3,235	e	Consolidated-Tomoka Land Co		149
	5,827	e	CorEnergy Infrastructure Trust, Inc		117
	17,860		Coresite Realty		1,250
	69,853		Corporate Office Properties Trust		1,833
	86,682		Corrections Corp of America		2,778
	159,841		Cousins Properties, Inc		1,659
	246,828		Crown Castle International Corp		21,351
	122,396		CubeSmart		4,076
	57,494		CyrusOne, Inc		2,625
	117,682		CYS Investments, Inc		958
	65,501		DCT Industrial Trust, Inc		2,585
	225,998		DDR Corp		4,020
	148,119		DiamondRock Hospitality Co		1,499
	107,861		Digital Realty Trust, Inc		9,545
	108,380		Douglas Emmett, Inc		3,263
	254,816		Duke Realty Corp		5,744
	47,457		DuPont Fabros Technology, Inc		1,923
	41,887	e	Dynex Capital, Inc		279
	9,917		Easterly Government Properties, Inc		184
	23,492		EastGroup Properties, Inc		1,418
	34,875		Education Realty Trust, Inc		1,451
	81,930		Empire State Realty Trust, Inc		1,436
	42,164		Entertainment Properties Trust		2,809
	49,999		Equinix, Inc		16,535
	95,895	*	Equity Commonwealth		2,706
	62,982		Equity Lifestyle Properties, Inc		4,581
	54,213		Equity One, Inc		1,554
	269,127		Equity Residential		20,193
	48,297		Essex Property Trust, Inc		11,295
	86,224		Extra Space Storage, Inc		8,058
	50,759		Federal Realty Investment Trust		7,921
	106,273		FelCor Lodging Trust, Inc		863
	82,257		First Industrial Realty Trust, Inc		1,870
	42,783		First Potomac Realty Trust		388
	160,981		Forest City Realty Trust, Inc		3,395

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	25,631	*,e	Forestar Group, Inc	$	334
	42,367		Four Corners Property Trust, Inc		760
	67,229		Franklin Street Properties Corp		713
	4,942	*	FRP Holdings, Inc		176
	65,188		Gaming and Leisure Properties, Inc		2,016
	426,526		General Growth Properties, Inc		12,681
	54,016		Geo Group, Inc		1,873
	18,198		Getty Realty Corp		361
	15,436		Gladstone Commercial Corp		253
	51,670	e	Government Properties Income Trust		922
	309,774		Gramercy Property Trust		2,618
	3,738		Great Ajax Corp		42
	24,141		Hannon Armstrong Sustainable Infrastructure Capital, Inc		464
	72,018		Hatteras Financial Corp		1,030
	322,575		HCP, Inc		10,509
	72,939		Healthcare Realty Trust, Inc		2,253
	91,905		Healthcare Trust of America, Inc		2,704
	36,742		Hersha Hospitality Trust		784
	69,548		Highwoods Properties, Inc		3,325
	110,912		Hospitality Properties Trust		2,946
	560,489		Host Marriott Corp		9,360
	29,353	*	Howard Hughes Corp		3,108
	54,955		Hudson Pacific Properties		1,589
	23,981		Independence Realty Trust, Inc		171
	93,191		Invesco Mortgage Capital, Inc		1,135
	90,609		Investors Real Estate Trust		658
	155,234		Iron Mountain, Inc		5,264
	64,505	*	iStar Financial, Inc		623
	33,300		Jones Lang LaSalle, Inc		3,907
	67,515		Kennedy-Wilson Holdings, Inc		1,479
	65,193		Kilroy Realty Corp		4,033
	305,650		Kimco Realty Corp		8,797
	60,886		Kite Realty Group Trust		1,687
	32,096	e	Ladder Capital Corp		400
	59,903		Lamar Advertising Co		3,684
	83,586		LaSalle Hotel Properties		2,116
	152,168		Lexington Realty Trust		1,309
	110,738		Liberty Property Trust		3,705
	27,155		LTC Properties, Inc		1,228
	117,086		Macerich Co		9,278
	67,066		Mack-Cali Realty Corp		1,576
	9,904	*	Marcus & Millichap, Inc		251
	152,989		Medical Properties Trust, Inc		1,986
	277,088		MFA Mortgage Investments, Inc		1,898
	55,794		Mid-America Apartment Communities, Inc		5,703
	41,601		Monmouth Real Estate Investment Corp (Class A)		495
	121,396		Monogram Residential Trust, Inc		1,197
	27,658		National Health Investors, Inc		1,840
	99,990		National Retail Properties, Inc		4,620
	17,361		National Storage Affiliates Trust		368
	145,076	e	New Residential Investment Corp		1,687
	47,726		New Senior Investment Group, Inc		492

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	72,745	e	New York Mortgage Trust, Inc	$	345
	124,499		New York REIT, Inc		1,257
	14,395		NexPoint Residential Trust, Inc		188
	42,262		NorthStar Realty Europe Corp		490
	126,786		NorthStar Realty Finance Corp		1,663
	135,157		Omega Healthcare Investors, Inc		4,771
	9,027		One Liberty Properties, Inc		202
	10,279	e	Orchid Island Capital, Inc		107
	101,625		Outfront Media, Inc		2,144
	131,030		Paramount Group, Inc		2,090
	62,005		Parkway Properties, Inc		971
	53,141		Pebblebrook Hotel Trust		1,545
	52,388		Pennsylvania REIT		1,145
	57,080		Pennymac Mortgage Investment Trust		779
	51,402		Physicians Realty Trust		955
	116,280		Piedmont Office Realty Trust, Inc		2,362
	40,153		Post Properties, Inc		2,399
	30,172		Potlatch Corp		950
	16,337	e	Preferred Apartment Communities, Inc		207
	387,082		Prologis, Inc		17,101
	14,667		PS Business Parks, Inc		1,474
	107,500		Public Storage, Inc		29,652
	17,741		QTS Realty Trust, Inc		841
	62,959		RAIT Investment Trust		198
	57,913		Ramco-Gershenson Properties		1,044
	94,973		Rayonier, Inc		2,344
	9,000		Re/Max Holdings, Inc		309
	108,646	*	Realogy Holdings Corp		3,923
	184,245		Realty Income Corp		11,517
	62,979		Redwood Trust, Inc		824
	69,743		Regency Centers Corp		5,220
	22,197	e	Resource Capital Corp		250
	68,690		Retail Opportunities Investment Corp		1,382
	173,060		Retail Properties of America, Inc		2,743
	40,671		Rexford Industrial Realty, Inc		739
	98,016		RLJ Lodging Trust		2,243
	5,123	*	RMR Group, Inc		128
	27,910		Rouse Properties, Inc		513
	32,495		Ryman Hospitality Properties		1,673
	43,769		Sabra Healthcare REIT, Inc		879
	6,582		Saul Centers, Inc		349
	45,730		Select Income REIT		1,054
	172,632		Senior Housing Properties Trust		3,088
	28,907		Silver Bay Realty Trust Corp		429
	230,221		Simon Property Group, Inc		47,815
	73,589		SL Green Realty Corp		7,129
	26,338		Sovran Self Storage, Inc		3,107
	322,513		Spirit Realty Capital, Inc		3,628
	39,283	*,e	St. Joe Co		674
	47,704	*	STAG Industrial, Inc		971
	173,444		Starwood Property Trust, Inc		3,283
	24,495		STORE Capital Corp		634

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	65,192		Summit Hotel Properties, Inc	$	780
	34,362		Sun Communities, Inc		2,461
	158,957		Sunstone Hotel Investors, Inc		2,225
	70,998		Tanger Factory Outlet Centers, Inc		2,584
	45,765		Taubman Centers, Inc		3,260
	10,268	*	Tejon Ranch Co		211
	31,885		Terreno Realty Corp		748
	270,915		Two Harbors Investment Corp		2,151
	190,771		UDR, Inc		7,350
	15,857		UMH Properties, Inc		157
	22,512	e,m	United Development Funding IV		72
	9,264		Universal Health Realty Income Trust		521
	66,647		Urban Edge Properties		1,722
	20,808		Urstadt Biddle Properties, Inc (Class A)		436
	238,688		Ventas, Inc		15,028
	672,745		VEREIT, Inc		5,967
	138,895		Vornado Realty Trust		13,116
	50,804		Washington REIT		1,484
	92,487		Weingarten Realty Investors		3,470
	253,612		Welltower, Inc		17,585
	28,538	e	Western Asset Mortgage Capital Corp		287
	593,239		Weyerhaeuser Co		18,379
	16,673		Whitestone REIT		210
	76,656		WP Carey, Inc		4,771
	139,812		WP GLIMCHER, Inc		1,327
	82,478		Xenia Hotels & Resorts, Inc		1,288
			TOTAL REAL ESTATE		710,657
RETAILING - 5.2%
	18,290	*	1-800-FLOWERS.COM, Inc (Class A)		144
	48,207		Aaron’s, Inc		1,210
	51,631	e	Abercrombie & Fitch Co (Class A)		1,628
	53,459		Advance Auto Parts, Inc		8,572
	279,967	*	Amazon.com, Inc		166,200
	144,288	e	American Eagle Outfitters, Inc		2,405
	6,968	*,e	America’s Car-Mart, Inc		174
	20,121	*	Asbury Automotive Group, Inc		1,204
	125,805	*	Ascena Retail Group, Inc		1,391
	51,270	*,e	Autonation, Inc		2,393
	22,594	*	AutoZone, Inc		18,000
	23,237	*	Barnes & Noble Education, Inc		228
	36,768		Barnes & Noble, Inc		454
	123,378	*	Bed Bath & Beyond, Inc		6,125
	223,553		Best Buy Co, Inc		7,252
	14,390		Big 5 Sporting Goods Corp		160
	39,947		Big Lots, Inc		1,809
	8,578		Blue Nile, Inc		221
	8,549	*	Boot Barn Holdings, Inc		80
	21,122	e	Buckle, Inc		715
	8,786	*	Build-A-Bear Workshop, Inc		114
	55,229	*	Burlington Stores, Inc		3,106
	37,763	*,e	Cabela’s, Inc		1,839

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	32,106		Caleres, Inc	$	908
	155,244	*	Carmax, Inc		7,933
	19,356		Cato Corp (Class A)		746
	106,541		Chico’s FAS, Inc		1,414
	15,377		Children’s Place Retail Stores, Inc		1,284
	11,556		Citi Trends, Inc		206
	20,933	*,e	Conn’s, Inc		261
	11,400	*	Container Store Group, Inc		67
	17,156		Core-Mark Holding Co, Inc		1,399
	57,355		CST Brands, Inc		2,196
	32,976	*	Destination XL Group, Inc		171
	68,108		Dick’s Sporting Goods, Inc		3,184
	15,613	e	Dillard’s, Inc (Class A)		1,326
	209,807		Dollar General Corp		17,959
	166,226	*	Dollar Tree, Inc		13,707
	54,370		DSW, Inc (Class A)		1,503
	14,596	*	Etsy, Inc		127
	86,149		Expedia, Inc		9,289
	62,822	*	Express Parent LLC		1,345
	9,437	*,e	Fenix Parts, Inc		43
	33,805		Finish Line, Inc (Class A)		713
	40,021	*,e	Five Below, Inc		1,654
	99,154	e	Foot Locker, Inc		6,395
	31,625	*	Francesca’s Holdings Corp		606
	27,215	e	Fred’s, Inc (Class A)		406
	13,967	*	FTD Cos, Inc		367
	79,426	e	GameStop Corp (Class A)		2,520
	176,472	e	Gap, Inc		5,188
	17,487	*	Genesco, Inc		1,263
	112,007		Genuine Parts Co		11,129
	64,081		GNC Holdings, Inc		2,035
	17,254		Group 1 Automotive, Inc		1,013
	329,256	*,e	Groupon, Inc		1,314
	44,451		Guess?, Inc		834
	16,062		Haverty Furniture Cos, Inc		340
	18,371	*,e	Hibbett Sports, Inc		660
	953,710		Home Depot, Inc		127,253
	24,109		HSN, Inc		1,261
	228,517	*,e	JC Penney Co, Inc		2,527
	12,718		Kirkland’s, Inc		223
	140,818		Kohl’s Corp		6,564
	182,388		L Brands, Inc		16,016
	12,586	*,e	Lands’ End, Inc		321
	364,728	*	Liberty Interactive Corp		9,209
	55,902	*	Liberty TripAdvisor Holdings, Inc		1,239
	103,346	*	Liberty Ventures		4,043
	16,930		Lithia Motors, Inc (Class A)		1,479
	225,488	*	LKQ Corp		7,200
	699,844		Lowe’s Companies, Inc		53,013
	19,294	*,e	Lumber Liquidators, Inc		253
	231,435		Macy’s, Inc		10,204
	18,578	*	MarineMax, Inc		362

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	15,036	*,e	Mattress Firm Holding Corp	$	637
	45,299	*	Michaels Cos, Inc		1,267
	23,604		Monro Muffler, Inc		1,687
	33,411	*	Murphy USA, Inc		2,053
	312,066	*	NetFlix, Inc		31,903
	101,822	e	Nordstrom, Inc		5,825
	20,499		Nutri/System, Inc		428
	405,707	*	Office Depot, Inc		2,881
	6,870	*,e	Ollie’s Bargain Outlet Holdings, Inc		161
	73,193	*	O’Reilly Automotive, Inc		20,030
	13,643	e	Outerwall, Inc		505
	8,893	*	Overstock.com, Inc		128
	17,507	*	Party City Holdco, Inc		263
	31,428		Penske Auto Group, Inc		1,191
	14,837	e	PetMed Express, Inc		266
	67,032	e	Pier 1 Imports, Inc		470
	37,940	*	Priceline.com, Inc		48,903
	38,310		Rent-A-Center, Inc		607
	24,409	*,e	Restoration Hardware Holdings, Inc		1,023
	306,119		Ross Stores, Inc		17,724
	116,394	*	Sally Beauty Holdings, Inc		3,769
	9,887	*,e	Sears Holdings Corp		151
	38,951	*	Select Comfort Corp		755
	10,447		Shoe Carnival, Inc		282
	27,812	*	Shutterfly, Inc		1,290
	59,364		Signet Jewelers Ltd		7,363
	24,526		Sonic Automotive, Inc (Class A)		453
	13,281	*,e	Sportsman’s Warehouse Holdings, Inc		167
	25,073	e	Stage Stores, Inc		202
	474,361		Staples, Inc		5,232
	21,273		Stein Mart, Inc		156
	36,113	e	Tailored Brands, Inc		646
	441,930		Target Corp		36,362
	83,552		Tiffany & Co		6,131
	21,071	*	Tile Shop Holdings, Inc		314
	6,790	*	Tilly’s, Inc		45
	500,622		TJX Companies, Inc		39,224
	99,381		Tractor Supply Co		8,990
	83,065	*	TripAdvisor, Inc		5,524
	32,864	*	Tuesday Morning Corp		269
	46,408		Ulta Salon Cosmetics & Fragrance, Inc		8,991
	64,021	*	Urban Outfitters, Inc		2,118
	22,533	*,e	Vitamin Shoppe, Inc		698
	11,570	*	VOXX International Corp (Class A)		52
	14,711	*,e	Wayfair, Inc		636
	11,292	*	West Marine, Inc		103
	67,891		Williams-Sonoma, Inc		3,716
	1,945		Winmark Corp		191
	15,828	*,e	Zumiez, Inc		315
			TOTAL RETAILING		840,193

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.3%
	29,482	*	Advanced Energy Industries, Inc	$	1,026
	474,503	*,e	Advanced Micro Devices, Inc		1,352
	15,539	*	Alpha & Omega Semiconductor Ltd		184
	23,188	*,e	Ambarella, Inc		1,036
	73,241	*	Amkor Technology, Inc		431
	229,205		Analog Devices, Inc		13,567
	849,566		Applied Materials, Inc		17,994
	59,771	*	Applied Micro Circuits Corp		386
	308,399		Atmel Corp		2,504
	83,398	*	Axcelis Technologies, Inc		234
	276,689		Broadcom Ltd		42,748
	52,087		Brooks Automation, Inc		542
	17,924		Cabot Microelectronics Corp		733
	9,758	*	Cascade Microtech, Inc		201
	40,828	*	Cavium, Inc		2,497
	15,710	*	Ceva, Inc		353
	47,684	*	Cirrus Logic, Inc		1,736
	18,761		Cohu, Inc		223
	80,918	*,e	Cree, Inc		2,355
	244,851	e	Cypress Semiconductor Corp		2,120
	28,713	*	Diodes, Inc		577
	19,178	*	DSP Group, Inc		175
	105,554	*	Entegris, Inc		1,438
	28,026	*	Exar Corp		161
	85,675	*	Fairchild Semiconductor International, Inc		1,713
	54,056	*	First Solar, Inc		3,701
	40,961	*	Formfactor, Inc		298
	28,079	*	Inphi Corp		936
	109,667	*	Integrated Device Technology, Inc		2,242
	3,478,760		Intel Corp		112,538
	96,768		Intersil Corp (Class A)		1,294
	16,725		IXYS Corp		188
	118,149		Kla-Tencor Corp		8,602
	50,517	*	Kopin Corp		84
	117,211		Lam Research Corp		9,682
	90,159	*,e	Lattice Semiconductor Corp		512
	176,955		Linear Technology Corp		7,885
	17,278	*,e	MA-COM Technology Solutions		757
	334,640		Marvell Technology Group Ltd		3,450
	54,353	*	Mattson Technology, Inc		198
	206,782		Maxim Integrated Products, Inc		7,605
	37,977	*	MaxLinear, Inc		703
	157,936	e	Microchip Technology, Inc		7,613
	790,225	*	Micron Technology, Inc		8,274
	80,866		Microsemi Corp		3,098
	39,433		MKS Instruments, Inc		1,485
	29,204		Monolithic Power Systems, Inc		1,859
	18,167	*	Nanometrics, Inc		288
	21,168	*	NeoPhotonics Corp Ltd		297
	3,184		NVE Corp		180
	397,834		Nvidia Corp		14,175
	317,509	*	ON Semiconductor Corp		3,045

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,605	*	PDF Solutions, Inc	$	276
	46,544	*	Photronics, Inc		485
	22,599		Power Integrations, Inc		1,122
	104,245	*	Qorvo, Inc		5,255
	84,186	*,e	Rambus, Inc		1,158
	25,190	*	Rudolph Technologies, Inc		344
	49,258	*	Semtech Corp		1,083
	25,567	*	Sigma Designs, Inc		174
	32,473	*	Silicon Laboratories, Inc		1,460
	141,463		Skyworks Solutions, Inc		11,020
	40,052	*,e	SunPower Corp		895
	157,133		Teradyne, Inc		3,392
	39,803		Tessera Technologies, Inc		1,234
	761,500		Texas Instruments, Inc		43,725
	23,500	*	Ultra Clean Holdings		126
	21,651	*	Ultratech, Inc		473
	29,696	*,e	Veeco Instruments, Inc		578
	37,527	*	Xcerra Corp		245
	191,407		Xilinx, Inc		9,078
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		379,398
SOFTWARE & SERVICES - 11.9%
	24,811	*	A10 Networks, Inc		147
	462,436		Accenture plc		53,365
	86,241	*	ACI Worldwide, Inc		1,793
	373,272		Activision Blizzard, Inc		12,632
	32,107	*	Actua Corp		291
	57,158	*	Acxiom Corp		1,225
	367,335	*	Adobe Systems, Inc		34,456
	132,262	*	Akamai Technologies, Inc		7,350
	5,086	*,e	Alarm.com Holdings, Inc		121
	45,335	*	Alliance Data Systems Corp		9,974
	211,642	*	Alphabet, Inc (Class A)		161,462
	216,860	*	Alphabet, Inc (Class C)		161,550
	11,882	*,e	Amber Road, Inc		64
	114,365		Amdocs Ltd		6,910
	15,720	*	American Software, Inc (Class A)		142
	32,146	*	Angie’s List, Inc		259
	62,478	*	Ansys, Inc		5,589
	3,095	*,e	Apigee Corp		26
	7,274	*,e	Appfolio, Inc		89
	63,153	*	Aspen Technology, Inc		2,282
	168,621	*	Autodesk, Inc		9,832
	345,034		Automatic Data Processing, Inc		30,953
	30,408	*	AVG Technologies NV		631
	50,870	*	Bankrate, Inc		466
	5,965	*,e	Barracuda Networks, Inc		92
	44,088	*	Bazaarvoice, Inc		139
	5,721	*,e	Benefitfocus, Inc		191
	15,413	*,e	Black Knight Financial Services, Inc		478
	35,258		Blackbaud, Inc		2,217
	40,135	*	Blackhawk Network Holdings, Inc		1,377

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	30,473	*	Blucora, Inc	$	157
	75,290		Booz Allen Hamilton Holding Co		2,280
	29,562	*	Bottomline Technologies, Inc		901
	9,849	*,e	Box, Inc		121
	20,694	*	Brightcove, Inc		129
	88,805		Broadridge Financial Solutions, Inc		5,267
	21,331	*	BroadSoft, Inc		861
	225,867		CA, Inc		6,954
	17,838	*	CACI International, Inc (Class A)		1,903
	216,614	*	Cadence Design Systems, Inc		5,108
	40,638	*	Callidus Software, Inc		678
	13,412	*	Carbonite, Inc		107
	33,955	*	Cardtronics, Inc		1,222
	13,954	*,e	Care.com, Inc		86
	8,603		Cass Information Systems, Inc		450
	115,322		CDK Global, Inc		5,368
	15,814	*	ChannelAdvisor Corp		178
	52,926	*	Ciber, Inc		112
	24,317	*	Cimpress NV		2,205
	118,705	*	Citrix Systems, Inc		9,328
	448,762	*	Cognizant Technology Solutions Corp (Class A)		28,137
	33,614	*	Commvault Systems, Inc		1,451
	99,804		Computer Sciences Corp		3,432
	36,513	*,e	comScore, Inc		1,097
	73,137		Convergys Corp		2,031
	40,208	*	Cornerstone OnDemand, Inc		1,318
	23,982	*	CoStar Group, Inc		4,513
	24,883		CSG Systems International, Inc		1,124
	99,804		CSRA, Inc		2,685
	17,592	*	Cvent, Inc		376
	15,267	*	Datalink Corp		140
	24,614	*	Demandware, Inc		962
	32,513	*	DHI Group, Inc		262
	5,437	e	Digimarc Corp		165
	37,568	*,e	Digital Turbine, Inc		45
	25,409		DST Systems, Inc		2,865
	77,306		EarthLink Holdings Corp		438
	894,311	*	eBay, Inc		21,338
	19,966	e	Ebix, Inc		814
	229,813	*	Electronic Arts, Inc		15,193
	21,694	*	Ellie Mae, Inc		1,966
	43,380	*,e	Endurance International Group Holdings, Inc		457
	20,747	*,e	EnerNOC, Inc		155
	28,511	*,e	Envestnet, Inc		776
	36,125	*	EPAM Systems, Inc		2,697
	25,591		EPIQ Systems, Inc		384
	37,881	*	Euronet Worldwide, Inc		2,807
	51,313	*	Everi Holdings, Inc		118
	48,388		EVERTEC, Inc		676
	15,773	*	Everyday Health, Inc		88
	24,918	*	ExlService Holdings, Inc		1,291
	1,588,956	*	Facebook, Inc		181,300

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,064		Fair Isaac Corp	$	2,447
	209,784		Fidelity National Information Services, Inc		13,281
	102,019	*,e	FireEye, Inc		1,835
	67,170	*	First American Corp		2,331
	138,194	*	First Data Corp		1,788
	170,999	*	Fiserv, Inc		17,541
	18,028	*,e	Five9, Inc		160
	67,800	*	FleetCor Technologies, Inc		10,085
	28,477	*	FleetMatics Group plc		1,159
	8,265		Forrester Research, Inc		278
	105,618	*	Fortinet, Inc		3,235
	61,489		Gartner, Inc		5,494
	118,380	*	Genpact Ltd		3,219
	20,054	*	Gigamon, Inc		622
	98,592		Global Payments, Inc		6,438
	11,456	*,e	Globant S.A.		354
	88,947	*,e	Glu Mobile, Inc		251
	17,503	*	GoDaddy, Inc		566
	42,541	*,e	Gogo, Inc		468
	55,694	*,e	GrubHub, Inc		1,400
	18,192	*	GTT Communications, Inc		301
	13,242	*,e	Guidance Software, Inc		57
	51,316	*	Guidewire Software, Inc		2,796
	17,956		Hackett Group, Inc		272
	27,069		Heartland Payment Systems, Inc		2,614
	5,610	*,e	Hortonworks, Inc		63
	14,191	*	HubSpot, Inc		619
	52,417		IAC/InterActiveCorp		2,468
	19,610	*,e	Imperva, Inc		990
	41,826	*,e	Infoblox, Inc		715
	12,605	*	Interactive Intelligence, Inc		459
	40,309	*	Internap Network Services Corp		110
	665,410		International Business Machines Corp		100,776
	30,239	*	Intralinks Holdings, Inc		238
	189,228		Intuit, Inc		19,682
	36,074		j2 Global, Inc		2,221
	58,179		Jack Henry & Associates, Inc		4,920
	30,270	*	Jive Software, Inc		114
	49,809		Leidos Holdings, Inc		2,506
	50,961	*	Limelight Networks, Inc		92
	80,906	*	LinkedIn Corp		9,252
	44,720	*	Lionbridge Technologies		226
	19,090	*	Liquidity Services, Inc		99
	40,701	*	Liveperson, Inc		238
	18,232	*	LogMeIn, Inc		920
	13,441	*	Luxoft Holding, Inc		740
	54,701	*	Manhattan Associates, Inc		3,111
	18,418		Mantech International Corp (Class A)		589
	25,119		Marchex, Inc (Class B)		112
	20,549	*	Marin Software, Inc		62
	25,709	*	Marketo, Inc		503
	734,581		Mastercard, Inc (Class A)		69,418

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,371	*,e	Match Group, Inc	$	270
	48,838		MAXIMUS, Inc		2,571
	73,403		Mentor Graphics Corp		1,492
	5,961,873		Microsoft Corp		329,274
	6,844	*	MicroStrategy, Inc (Class A)		1,230
	5,757	*,e	MINDBODY, Inc		77
	29,654	*,e	MobileIron, Inc		134
	14,483	*	Model N, Inc		156
	33,165	*,e	ModusLink Global Solutions, Inc		49
	22,389	*	MoneyGram International, Inc		137
	29,292		Monotype Imaging Holdings, Inc		701
	70,908	*	Monster Worldwide, Inc		231
	29,548	*,e	NetSuite, Inc		2,024
	42,216	*,e	NeuStar, Inc (Class A)		1,039
	4,154	*,e	New Relic, Inc		108
	48,579		NIC, Inc		876
	187,240	*	Nuance Communications, Inc		3,500
	19,789	*,e	OPOWER, Inc		135
	2,328,255		Oracle Corp		95,249
	155,524	*,e	Pandora Media, Inc		1,392
	7,197	*,e	Park City Group, Inc		65
	240,713		Paychex, Inc		13,001
	23,354	*,e	Paycom Software, Inc		831
	11,222	*,e	Paylocity Holding Corp		367
	893,780	*	PayPal Holdings, Inc		34,500
	24,918		Pegasystems, Inc		632
	25,493	*	Perficient, Inc		554
	8,684	*	PFSweb, Inc		114
	38,195	*	Progress Software Corp		921
	29,179	*,e	Proofpoint, Inc		1,569
	17,256	*	PROS Holdings, Inc		203
	85,331	*	PTC, Inc		2,830
	14,350	*	Q2 Holdings, Inc		345
	7,729		QAD, Inc (Class A)		164
	67,392	*	QLIK Technologies, Inc		1,949
	18,223	*	Qualys, Inc		461
	20,643	*	QuinStreet, Inc		71
	45,152	*,e	Quotient Technology, Inc		479
	85,282	*	Rackspace Hosting, Inc		1,841
	5,299	*,e	Rapid7, Inc		69
	18,038	*	RealNetworks, Inc		73
	39,496	*	RealPage, Inc		823
	135,645	*	Red Hat, Inc		10,107
	6,528		Reis, Inc		154
	28,776	*	RetailMeNot, Inc		231
	39,806	*	RingCentral, Inc		627
	20,141	*,e	Rocket Fuel, Inc		63
	59,737	*	Rovi Corp		1,225
	18,722	*	Rubicon Project, Inc		342
	83,383		Sabre Corp		2,411
	483,389	*	Salesforce.com, Inc		35,689
	17,304		Sapiens International Corp NV		207

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,016		Science Applications International Corp	$	1,814
	21,075	*	Sciquest, Inc		293
	24,634	*	Seachange International, Inc		136
	113,734	*	ServiceNow, Inc		6,958
	46,932	*,e	ServiceSource International LLC		200
	14,547	*,e	Shutterstock, Inc		534
	26,176	*,e	Silver Spring Networks, Inc		386
	92,607	*	Splunk, Inc		4,531
	12,246	*	SPS Commerce, Inc		526
	22,469	*,e	Square, Inc		343
	52,847		SS&C Technologies Holdings, Inc		3,352
	10,609	*	Stamps.com, Inc		1,128
	29,262	*	Sykes Enterprises, Inc		883
	503,573		Symantec Corp		9,256
	28,696	*	Synchronoss Technologies, Inc		928
	107,461	*	Synopsys, Inc		5,205
	23,254	*	Syntel, Inc		1,161
	36,581	*	Tableau Software, Inc		1,678
	62,894	*	Take-Two Interactive Software, Inc		2,369
	29,444	*,e	Tangoe, Inc		232
	12,153	*	TechTarget, Inc		90
	20,400	*	TeleNav, Inc		120
	13,212		TeleTech Holdings, Inc		367
	100,027	*	Teradata Corp		2,625
	14,409	*,e	Textura Corp		268
	71,591	*	TiVo, Inc		681
	122,214		Total System Services, Inc		5,815
	78,243		Travelport Worldwide Ltd		1,069
	6,116	*	Travelzoo, Inc		50
	36,314	*,e	TrueCar, Inc		203
	10,595	*,e	TubeMogul, Inc		137
	418,135	*	Twitter, Inc		6,920
	24,991	*	Tyler Technologies, Inc		3,214
	21,175	*	Ultimate Software Group, Inc		4,097
	38,674	*,e	Unisys Corp		298
	11,210	*	United Online, Inc		129
	105,809	*	Vantiv, Inc		5,701
	6,363	*,e	Varonis Systems, Inc		116
	21,489	*,e	Vasco Data Security International		331
	84,224	*	VeriFone Systems, Inc		2,379
	45,384	*	Verint Systems, Inc		1,515
	73,449	*,e	VeriSign, Inc		6,503
	32,131	*,e	VirnetX Holding Corp		148
	21,946	*	Virtusa Corp		822
	1,438,349		Visa, Inc (Class A)		110,005
	60,583	*,e	VMware, Inc (Class A)		3,169
	28,678	*,e	WebMD Health Corp (Class A)		1,796
	32,723	*	Website Pros, Inc		649
	382,980		Western Union Co		7,388
	28,569	*	WEX, Inc		2,382
	14,146	*	Wix.com Ltd		287
	78,368	*,e	Workday, Inc		6,022

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	4,998	*	Workiva, Inc	$	58
	8,095	*	Xactly Corp		55
	750,019		Xerox Corp		8,370
	19,259	*	XO Group, Inc		309
	16,654	*	Xura, Inc		328
	689,094	*	Yahoo!, Inc		25,366
	47,998	*	Yelp, Inc		954
	39,804	*,e	Zendesk, Inc		833
	32,505	*,e	Zillow Group, Inc		831
	65,010	*,e	Zillow Group, Inc (Class C)		1,543
	47,197	*	Zix Corp		186
	565,694	*	Zynga, Inc		1,290
			TOTAL SOFTWARE & SERVICES		1,941,749
TECHNOLOGY HARDWARE & EQUIPMENT - 5.7%
	83,151	*,e	3D Systems Corp		1,286
	39,852		Adtran, Inc		806
	16,323	*,e	Aerohive Networks, Inc		81
	11,056	*	Agilysys, Inc		113
	9,098	e	Alliance Fiber Optic Products, Inc		135
	228,592		Amphenol Corp (Class A)		13,217
	21,094	*	Anixter International, Inc		1,099
	4,246,242		Apple, Inc		462,798
	11,231	*,e	Applied Optoelectronics, Inc		167
	24,889	*,e	Arista Networks, Inc		1,570
	133,254	*	ARRIS International plc		3,054
	66,366	*	Arrow Electronics, Inc		4,275
	24,161	*	Avid Technology, Inc		163
	92,405		Avnet, Inc		4,094
	34,410		AVX Corp		433
	11,475		Badger Meter, Inc		763
	7,316		Bel Fuse, Inc (Class B)		107
	31,469		Belden CDT, Inc		1,932
	39,122	*	Benchmark Electronics, Inc		902
	12,526		Black Box Corp		169
	309,327		Brocade Communications Systems, Inc		3,273
	26,799	*	CalAmp Corp		480
	28,887	*	Calix, Inc		205
	89,647		CDW Corp		3,720
	30,668		Checkpoint Systems, Inc		310
	91,005	*	Ciena Corp		1,731
	3,728,479		Cisco Systems, Inc		106,150
	8,964	*,e	Clearfield, Inc		144
	64,456		Cognex Corp		2,511
	17,685	*	Coherent, Inc		1,625
	73,857	*	CommScope Holding Co, Inc		2,062
	11,551		Comtech Telecommunications Corp		270
	15,682	*,e	Control4 Corp		125
	849,927		Corning, Inc		17,755
	29,620	*	Cray, Inc		1,241
	23,637		CTS Corp		372
	27,847		Daktronics, Inc		220

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	47,853		Diebold, Inc	$	1,383
	18,652	*	Digi International, Inc		176
	36,841		Dolby Laboratories, Inc (Class A)		1,601
	13,244	*	DTS, Inc		288
	13,533	*,e	Eastman Kodak Co		147
	32,770	*	EchoStar Corp (Class A)		1,451
	11,677		Electro Rent Corp		108
	35,264	*	Electronics for Imaging, Inc		1,495
	1,415,261		EMC Corp		37,717
	18,982	*	EMCORE Corp		95
	3,943	*	ePlus, Inc		317
	79,396	*	Extreme Networks, Inc		247
	53,266	*	F5 Networks, Inc		5,638
	26,560	*	Fabrinet		859
	12,851	*	FARO Technologies, Inc		414
	30,706		FEI Co		2,733
	76,718	*	Finisar Corp		1,399
	30,563	*,e	Fitbit, Inc		463
	104,125		Flir Systems, Inc		3,431
	25,552	*	GSI Group, Inc		362
	67,185	*	Harmonic, Inc		220
	91,398		Harris Corp		7,116
	1,255,719		Hewlett Packard Enterprise Co		22,264
	1,269,771		HP, Inc		15,644
	39,772	*	II-VI, Inc		863
	27,939	*,e	Imation Corp		43
	21,661	*	Immersion Corp		179
	95,498	*	Infinera Corp		1,534
	107,218		Ingram Micro, Inc (Class A)		3,850
	28,444	*	Insight Enterprises, Inc		815
	26,730		InterDigital, Inc		1,488
	57,029	*,e	InvenSense, Inc		479
	25,418	*,e	IPG Photonics Corp		2,442
	28,730	*	Itron, Inc		1,199
	43,041	*	Ixia		536
	143,551		Jabil Circuit, Inc		2,766
	291,880		Juniper Networks, Inc		7,446
	125,388	*	Keysight Technologies, Inc		3,478
	21,162	*	Kimball Electronics, Inc		236
	64,648	*,e	Knowles Corp		852
	10,929	*	KVH Industries, Inc		104
	45,344		Lexmark International, Inc (Class A)		1,516
	16,687		Littelfuse, Inc		2,054
	34,637	*	Lumentum Holdings, Inc		934
	23,128	*	Mercury Computer Systems, Inc		469
	1,988	e	Mesa Laboratories, Inc		192
	28,385		Methode Electronics, Inc		830
	126,381		Motorola, Inc		9,567
	11,234		MTS Systems Corp		684
	6,959	*	Multi-Fineline Electronix, Inc		162
	83,376		National Instruments Corp		2,510
	98,354	*	NCR Corp		2,944

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	216,845		NetApp, Inc	$	5,918
	26,175	*	Netgear, Inc		1,057
	67,850	*	Netscout Systems, Inc		1,559
	27,910	*	Newport Corp		642
	37,400	*,e	Nimble Storage, Inc		293
	29,647	*,e	Novatel Wireless, Inc		52
	72,862	*,e	Oclaro, Inc		393
	14,702	*	OSI Systems, Inc		963
	53,646	*	Palo Alto Networks, Inc		8,752
	16,460		Park Electrochemical Corp		264
	6,868		PC Connection, Inc		177
	29,009		Plantronics, Inc		1,137
	25,402	*	Plexus Corp		1,004
	100,006	*	Polycom, Inc		1,115
	21,249	*,e	Pure Storage, Inc		291
	65,614	*	QLogic Corp		882
	1,104,341		Qualcomm, Inc		56,476
	171,155	*,e	Quantum Corp		104
	21,664	*	Rofin-Sinar Technologies, Inc		698
	13,791	*	Rogers Corp		826
	55,372	*,e	Ruckus Wireless, Inc		543
	153,815		SanDisk Corp		11,702
	55,707	*	Sanmina Corp		1,302
	21,738	*	Scansource, Inc		878
	43,182	*	ShoreTel, Inc		321
	25,143	*,e	Silicon Graphics International Corp		179
	37,508	*	Sonus Networks, Inc		282
	37,383	*,e	Stratasys Ltd		969
	27,221	*	Super Micro Computer, Inc		928
	27,223	*	Synaptics, Inc		2,171
	21,522		SYNNEX Corp		1,993
	9,938	*	Systemax, Inc		87
	26,973	*	Tech Data Corp		2,071
	192,019	*	Trimble Navigation Ltd		4,762
	44,290	*	TTM Technologies, Inc		295
	22,392	e	Ubiquiti Networks, Inc		745
	29,474	*	Universal Display Corp		1,595
	31,477	*,e	Viasat, Inc		2,313
	173,185	*	Viavi Solutions, Inc		1,188
	100,754	e	Vishay Intertechnology, Inc		1,230
	9,508	*	Vishay Precision Group, Inc		133
	165,870	e	Western Digital Corp		7,836
	38,312	*	Zebra Technologies Corp (Class A)		2,644
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		923,868
TELECOMMUNICATION SERVICES - 2.5%
	66,124	*	8x8, Inc		665
	4,489,325		AT&T, Inc		175,847
	7,918		Atlantic Tele-Network, Inc		600
	27,406	*	Boingo Wireless, Inc		212
	416,899		CenturyTel, Inc		13,324
	149,815	*	Cincinnati Bell, Inc		580

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,230		Cogent Communications Group, Inc	$	1,336
	38,388	e	Consolidated Communications Holdings, Inc		989
	16,551	*,e	Fairpoint Communications, Inc		246
	861,250	e	Frontier Communications Corp		4,814
	24,304	*	General Communication, Inc (Class A)		445
	348,844	*,e	Globalstar, Inc		513
	7,568	*	Hawaiian Telcom Holdco, Inc		178
	10,513		IDT Corp (Class B)		164
	45,794	*	inContact, Inc		407
	25,073		Inteliquent, Inc		402
	60,764	*,e	Iridium Communications, Inc		478
	213,185	*	Level 3 Communications, Inc		11,267
	16,622	*	Lumos Networks Corp		213
	11,759	*,e	NTELOS Holdings Corp		108
	44,329	*	Orbcomm, Inc		449
	9,439	*	pdvWireless, Inc		324
	95,804	*	SBA Communications Corp (Class A)		9,597
	36,302		Shenandoah Telecom Co		971
	17,224		Spok Holdings, Inc		302
	551,084	*,e	Sprint Corp		1,918
	6,721	*	Straight Path Communications, Inc		209
	68,830		Telephone & Data Systems, Inc		2,071
	203,125	*	T-Mobile US, Inc		7,780
	9,529	*	US Cellular Corp		435
	2,998,985		Verizon Communications, Inc		162,185
	137,981	*	Vonage Holdings Corp		631
	76,638	e	Windstream Holdings, Inc		589
	105,945	*	Zayo Group Holdings, Inc		2,568
			TOTAL TELECOMMUNICATION SERVICES		402,817
TRANSPORTATION - 2.1%
	40,179	*	Air Transport Services Group, Inc		618
	93,230		Alaska Air Group, Inc		7,647
	8,403		Allegiant Travel Co		1,496
	4,641		Amerco, Inc		1,658
	463,817		American Airlines Group, Inc		19,021
	19,331		Arkansas Best Corp		417
	18,341	*	Atlas Air Worldwide Holdings, Inc		775
	73,828	*	Avis Budget Group, Inc		2,020
	20,049	*	Celadon Group, Inc		210
	107,766		CH Robinson Worldwide, Inc		8,000
	24,453	e	Copa Holdings S.A. (Class A)		1,657
	8,672	*	Covenant Transportation Group, Inc		210
	726,010		CSX Corp		18,695
	600,168		Delta Air Lines, Inc		29,216
	21,969	*	Echo Global Logistics, Inc		597
	138,241		Expeditors International of Washington, Inc		6,748
	196,773		FedEx Corp		32,019
	22,919		Forward Air Corp		1,039
	39,257	*	Genesee & Wyoming, Inc (Class A)		2,461
	34,479	*	Hawaiian Holdings, Inc		1,627
	36,950	e	Heartland Express, Inc		685

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	299,972	*	Hertz Global Holdings, Inc	$	3,159
	26,734	*	Hub Group, Inc (Class A)		1,091
	68,104		J.B. Hunt Transport Services, Inc		5,737
	231,738	*	JetBlue Airways Corp		4,894
	81,773		Kansas City Southern Industries, Inc		6,988
	41,240	*	Kirby Corp		2,486
	45,057	e	Knight Transportation, Inc		1,178
	33,557		Landstar System, Inc		2,168
	50,509		Macquarie Infrastructure Co LLC		3,406
	17,739		Marten Transport Ltd		332
	32,238		Matson, Inc		1,295
	60,245	e	Navios Maritime Holdings, Inc		68
	225,613		Norfolk Southern Corp		18,782
	51,170	*	Old Dominion Freight Line		3,563
	2,470	*	PAM Transportation Services, Inc		76
	6,136		Park-Ohio Holdings Corp		263
	17,329	*	Radiant Logistics, Inc		62
	20,933	*	Roadrunner Transportation Services Holdings, Inc		261
	39,438		Ryder System, Inc		2,555
	18,094	*	Saia, Inc		509
	40,260		Skywest, Inc		805
	494,314		Southwest Airlines Co		22,145
	53,890	*	Spirit Airlines, Inc		2,586
	63,781	*,e	Swift Transportation Co, Inc		1,188
	641,733		Union Pacific Corp		51,050
	264,257		United Continental Holdings, Inc		15,818
	518,852		United Parcel Service, Inc (Class B)		54,723
	6,297		Universal Truckload Services, Inc		104
	7,128	*	USA Truck, Inc		134
	18,831	*,e	Virgin America, Inc		726
	34,798		Werner Enterprises, Inc		945
	44,920	*	Wesco Aircraft Holdings, Inc		646
	52,800	*,e	XPO Logistics, Inc		1,621
	23,809	*,e	YRC Worldwide, Inc		222
			TOTAL TRANSPORTATION		348,402
UTILITIES - 3.5%
	35,975	e	Abengoa Yield plc		640
	502,237		AES Corp		5,926
	88,857		AGL Resources, Inc		5,788
	35,666		Allete, Inc		2,000
	83,430		Alliant Energy Corp		6,197
	179,688		Ameren Corp		9,002
	361,395		American Electric Power Co, Inc		23,997
	29,456		American States Water Co		1,159
	133,205		American Water Works Co, Inc		9,182
	134,973		Aqua America, Inc		4,295
	4,909		Artesian Resources Corp		137
	92,825		Atlantic Power Corp		228
	73,233		Atmos Energy Corp		5,438
	41,780		Avangrid, Inc		1,676
	45,672		Avista Corp		1,863

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	33,522		Black Hills Corp	$	2,016
	35,650		California Water Service Group		953
	276,377	*	Calpine Corp		4,193
	318,361		Centerpoint Energy, Inc		6,660
	11,590		Chesapeake Utilities Corp		730
	46,444		Cleco Corp		2,564
	203,302		CMS Energy Corp		8,628
	8,405		Connecticut Water Service, Inc		379
	216,563		Consolidated Edison, Inc		16,593
	10,961	e	Consolidated Water Co, Inc		133
	438,500		Dominion Resources, Inc		32,940
	131,940		DTE Energy Co		11,962
	504,114		Duke Energy Corp		40,672
	94,898	*	Dynegy, Inc		1,364
	239,987		Edison International		17,253
	30,616		El Paso Electric Co		1,405
	33,239		Empire District Electric Co		1,099
	132,825		Entergy Corp		10,530
	228,312		Eversource Energy		13,320
	679,688		Exelon Corp		24,374
	311,936		FirstEnergy Corp		11,220
	9,378	e	Genie Energy Ltd		71
	114,306		Great Plains Energy, Inc		3,686
	79,361	*	Hawaiian Electric Industries, Inc		2,571
	37,236		Idacorp, Inc		2,777
	114,807		ITC Holdings Corp		5,002
	32,340		Laclede Group, Inc		2,191
	144,429		MDU Resources Group, Inc		2,811
	26,250		MGE Energy, Inc		1,372
	11,759		Middlesex Water Co		363
	62,456		National Fuel Gas Co		3,126
	63,442		New Jersey Resources Corp		2,311
	324,782		NextEra Energy, Inc		38,435
	234,601		NiSource, Inc		5,527
	22,143		Northwest Natural Gas Co		1,192
	33,520		NorthWestern Corp		2,070
	245,109		NRG Energy, Inc		3,189
	21,934	e	NRG Yield, Inc (Class A)		298
	25,354	e	NRG Yield, Inc (Class C)		361
	147,340		OGE Energy Corp		4,218
	39,547		ONE Gas, Inc		2,416
	27,707	e	Ormat Technologies, Inc		1,143
	27,545		Otter Tail Corp		816
	38,404	e	Pattern Energy Group, Inc		732
	354,104		PG&E Corp		21,147
	59,562		Piedmont Natural Gas Co, Inc		3,564
	81,970		Pinnacle West Capital Corp		6,153
	58,763		PNM Resources, Inc		1,981
	58,032		Portland General Electric Co		2,292
	481,803		PPL Corp		18,342
	374,289		Public Service Enterprise Group, Inc		17,644
	130,852		Questar Corp		3,245

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	104,543		SCANA Corp	$	7,334
	176,260		Sempra Energy		18,340
	12,005		SJW Corp		436
	49,250		South Jersey Industries, Inc		1,401
	662,212		Southern Co		34,256
	34,400		Southwest Gas Corp		2,265
	62,722	*	Talen Energy Corp		565
	170,423		TECO Energy, Inc		4,692
	27,892	e	TerraForm Global, Inc		66
	37,840	e	TerraForm Power, Inc		327
	128,103		UGI Corp		5,161
	10,272		Unitil Corp		436
	61,078		Vectren Corp		3,088
	15,334	*,e	Vivint Solar, Inc		41
	233,695		WEC Energy Group, Inc		14,038
	96,665		Westar Energy, Inc		4,796
	36,819		WGL Holdings, Inc		2,665
	355,639		Xcel Energy, Inc		14,873
	9,006		York Water Co		275
			TOTAL UTILITIES		562,617
			TOTAL COMMON STOCKS		16,233,308
			(Cost $9,188,134)
RIGHTS / WARRANTS - 0.0%
CONSUMER DURABLES & APPAREL - 0.0%
	9,200	e,m	Vince Holding Corp		3
			TOTAL CONSUMER DURABLES & APPAREL		3
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
	4,045	m	Omthera Pharmaceuticals, Inc		2
	28,951	e,m	Trius Therapeutics, Inc		4
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		16
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		137
			(Cost $118)

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
SHORT-TERM INVESTMENTS - 3.8%
TREASURY DEBT - 0.2%
$	2,800,000		United States Treasury Bill		0.233	%	04/21/16	$	2,800
	10,000,000		United States Treasury Bill		0.255		05/26/16		9,997
	11,400,000		United States Treasury Bill		0.371		09/29/16		11,378
			TOTAL TREASURY DEBT						24,175
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 3.6%
	586,674,812	a,c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust						586,675
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						586,675
			TOTAL SHORT-TERM INVESTMENTS						610,850
			(Cost $610,849)
			TOTAL INVESTMENTS - 103.5%						16,844,295
			(Cost $9,799,101)
			OTHER ASSETS & LIABILITIES, NET - (3.5)%						(567,209	)
			NET ASSETS - 100.0%					$	16,277,086

	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 securites 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 $573,273,000.
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.

307

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND

BOND MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2016

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.7%
AUTOMOBILES & COMPONENTS - 0.1%
$	4,854,057	i	Gates Global LLC		4.250	%	07/05/21	$	4,572
	1,692,308	i	INA Beteiligungsgesellschaft mbH		4.250		05/15/20		1,697
			TOTAL AUTOMOBILES & COMPONENTS						6,269
CAPITAL GOODS - 0.0%
	4,226,615	i	TransDigm, Inc		3.750		02/28/20		4,166
			TOTAL CAPITAL GOODS						4,166
CONSUMER DURABLES & APPAREL - 0.0%
	1,188,000	i	Hanesbrands, Inc		3.250		04/29/22		1,193
			TOTAL CONSUMER DURABLES & APPAREL						1,193
CONSUMER SERVICES - 0.1%
	3,766,225	i	1011778 BC ULC		3.750		12/10/21		3,761
	3,806,306	i	Hilton Worldwide		3.500		10/26/20		3,805
	4,911,167	i	MGM Resorts International		3.500		12/20/19		4,897
			TOTAL CONSUMER SERVICES						12,463
DIVERSIFIED FINANCIALS - 0.0%
	4,912,281	i	TransUnion LLC		3.500		04/09/21		4,861
			TOTAL DIVERSIFIED FINANCIALS						4,861
ENERGY - 0.0%
	168,582	i	Granite Acquisition, Inc		5.000		12/19/21		159
	3,783,525	i	Granite Acquisition, Inc		5.000		12/19/21		3,575
			TOTAL ENERGY						3,734
FOOD & STAPLES RETAILING - 0.0%
	5,494,500	i	Albertson’s Holdings LLC		5.500		08/25/21		5,497
			TOTAL FOOD & STAPLES RETAILING						5,497
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	3,557,545	i	Capsugel Holdings US, Inc		3.500		08/01/18		3,542
	301,619	i	CHS/Community Health Systems		4.000		01/27/21		296
	1,670,250	i	DaVita HealthCare Partners, Inc		3.500		06/24/21		1,672
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						5,510
MATERIALS - 0.1%
	882,825	i	Eco Services Operations LLC		4.750		12/04/21		856
	4,487,005	i	Minerals Technologies, Inc		3.750		05/10/21		4,465
	3,349,000	i	Solenis International LP		4.250		07/31/21		3,214
			TOTAL MATERIALS						8,535

308

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
MEDIA - 0.1%
$	4,687,500	i	CBS Outdoor Americas Capital LLC		3.000	%	02/01/21	$	4,658
	4,502,874	i	EMI Music		4.000		08/19/22		4,491
	1,793,461	i	Univision Communications, Inc		4.000		03/01/20		1,774
	3,029,946	i	Virgin Media Investment Holdings Ltd		3.500		06/30/23		3,002
			TOTAL MEDIA						13,925
REAL ESTATE - 0.0%
	3,970,000	i	DTZ US Borrower LLC		4.250		11/04/21		3,930
			TOTAL REAL ESTATE						3,930
RETAILING - 0.0%
	482,715	i	Dollar Tree, Inc		3.500		07/06/22		484
	843,625	i	PetSmart, Inc		4.250		03/11/22		840
	665,000	i	Staples Escrow LLC		4.750		02/02/22		664
			TOTAL RETAILING						1,988
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.1%
	6,000,000		Avago Technologies Cayman Finance Ltd		4.250		02/01/23		5,967
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						5,967
SOFTWARE & SERVICES - 0.1%
	1,891,790	i	Activision Blizzard, Inc		3.250		10/11/20		1,898
	4,912,281	i	IMS Health, Inc		3.500		03/17/21		4,897
	248,635	i	SS&C Technologies Holdings Europe SARL		4.000		07/08/22		249
	1,715,247	i	SS&C Technologies Holdings, Inc		4.000		07/08/22		1,718
			TOTAL SOFTWARE & SERVICES						8,762
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	1,218,875	i	CommScope, Inc		3.828		12/29/22		1,216
	4,715,365	i	NXP BV		3.250		01/10/20		4,683
	399,000	i	NXP BV		3.750		12/07/20		400
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						6,299
UTILITIES - 0.0%
	193,000	i	Calpine Corp		4.000		10/09/19		192
			TOTAL UTILITIES						192
			TOTAL BANK LOAN OBLIGATIONS						93,291
			(Cost $94,047)
BONDS - 97.8%
CORPORATE BONDS - 35.6%
AUTOMOBILES & COMPONENTS - 0.2%
	4,050,000		Delphi Automotive plc		3.150		11/19/20		4,137
	1,000,000	g	Gates Global LLC		6.000		07/15/22		855
	6,950,000		General Motors Co		6.600		04/01/36		7,649
	4,975,000		General Motors Co		6.750		04/01/46		5,657
	8,675,000		Magna International, Inc		3.625		06/15/24		8,701
	350,000	g	ZF North America Capital, Inc		4.000		04/29/20		354
	175,000	g	ZF North America Capital, Inc		4.500		04/29/22		179
	350,000	g	ZF North America Capital, Inc		4.750		04/29/25		348
			TOTAL AUTOMOBILES & COMPONENTS						27,880

309

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
BANKS - 6.0%
$	2,500,000		Banco de Oro Unibank, Inc		3.875	%	04/22/16	$	2,500
	3,000,000	g	Banco Nacional de Comercio Exterior SNC		4.375		10/14/25		3,021
	4,500,000		Bancolombia S.A.		5.950		06/03/21		4,866
	5,000,000	g	Bank Nederlandse Gemeenten		2.625		04/28/21		5,242
	2,520,000	g	Bank Nederlandse Gemeenten NV		2.375		03/16/26		2,546
	15,175,000		Bank of America Corp		3.750		07/12/16		15,286
	18,550,000		Bank of America Corp		5.300		03/15/17		19,198
	8,525,000		Bank of America Corp		6.000		09/01/17		9,010
	9,000,000		Bank of America Corp		2.600		01/15/19		9,154
	17,000,000		Bank of America Corp		2.625		10/19/20		17,126
	16,000,000		Bank of America Corp		4.000		01/22/25		16,031
	12,050,000		Bank of America Corp		3.950		04/21/25		12,001
	10,200,000		Bank of America Corp		3.875		08/01/25		10,612
	200,000		Bank of America Corp		4.250		10/22/26		203
	6,075,000		Bank of America Corp		4.750		04/21/45		6,044
	25,000,000		Bank of Nova Scotia		2.125		09/11/19		25,399
	5,850,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		2.350		02/23/17		5,900
	5,450,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		2.350		09/08/19		5,496
	7,100,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		3.250		09/08/24		7,237
	8,075,000		Barclays plc		2.750		11/08/19		8,020
	13,300,000		Barclays plc		3.650		03/16/25		12,471
	5,190,000	g	BBVA Banco Continental S.A.		3.250		04/08/18		5,268
	3,200,000		Branch Banking & Trust Co		2.300		10/15/18		3,257
	11,850,000		Capital One Bank USA NA		2.950		07/23/21		11,934
	4,500,000		Capital One Bank USA NA		3.375		02/15/23		4,536
	8,425,000		Citigroup, Inc		1.300		11/15/16		8,436
	12,725,000		Citigroup, Inc		3.300		04/27/25		12,763
	32,000,000		Citigroup, Inc		4.450		09/29/27		32,216
	250,000		Citigroup, Inc		4.650		07/30/45		262
	10,000,000	i	Citigroup, Inc		5.350		12/30/49		9,225
	6,875,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		7,051
	8,650,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		4.625		12/01/23		9,134
	10,475,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		5.250		08/04/45		11,328
	13,700,000		Cooperatieve Rabobank UA		2.500		01/19/21		13,855
	4,825,000	g	Credit Agricole S.A.		2.500		04/15/19		4,905
	3,300,000	g	Credit Agricole S.A.		2.750		06/10/20		3,353
	3,800,000	g	DBS Group Holdings Ltd		2.246		07/16/19		3,836
	9,425,000		Discover Bank		3.100		06/04/20		9,498
	12,850,000		Fifth Third Bancorp		2.375		04/25/19		12,992
	7,350,000	g	HSBC Bank plc		4.125		08/12/20		7,872
	13,025,000		HSBC Holdings plc		3.400		03/08/21		13,294
	7,000,000		HSBC Holdings plc		4.250		03/14/24		7,075
	4,175,000		HSBC Holdings plc		4.250		08/18/25		4,124
	5,125,000		HSBC Holdings plc		4.300		03/08/26		5,285
	5,000,000		HSBC USA, Inc		1.625		01/16/18		4,990
	1,700,000	g	Industrial & Commercial Bank of China Ltd		4.875		09/21/25		1,748
	24,175,000		JPMorgan Chase & Co		2.750		06/23/20		24,766
	4,250,000		JPMorgan Chase & Co		3.875		02/01/24		4,530
	24,400,000		JPMorgan Chase & Co		3.300		04/01/26		24,604
	200,000		JPMorgan Chase & Co		4.950		06/01/45		211

310

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,750,000	i	JPMorgan Chase & Co		5.150	%	12/30/49	$	3,601
	2,700,000		KeyBank NA		2.500		12/15/19		2,735
	13,125,000		KeyBank NA		2.250		03/16/20		13,137
	15,650,000		KeyBank NA		3.300		06/01/25		16,043
	250,000		Lloyds Bank plc		3.500		05/14/25		259
	4,475,000	g	Macquarie Bank Ltd		2.600		06/24/19		4,518
	9,950,000		Manufacturers & Traders Trust Co		2.100		02/06/20		9,927
	5,925,000		Mitsubishi UFJ Financial Group, Inc		3.850		03/01/26		6,162
	1,500,000	g,i	Oversea-Chinese Banking Corp Ltd		4.000		10/15/24		1,558
	2,325,000	g	PKO Finance AB		4.630		09/26/22		2,402
	10,400,000		PNC Bank NA		2.200		01/28/19		10,559
	11,475,000		PNC Bank NA		2.250		07/02/19		11,659
	17,000,000		PNC Bank NA		2.600		07/21/20		17,380
	10,950,000		PNC Bank NA		2.700		11/01/22		10,877
	17,395,000		PNC Bank NA		2.950		01/30/23		17,529
	6,000,000		PNC Financial Services Group, Inc		3.900		04/29/24		6,313
	4,900,000	g,i	Rabobank Nederland NV		11.000		12/30/49		5,880
	12,000,000		Royal Bank of Canada		1.200		09/19/17		11,988
	11,300,000		Royal Bank of Canada		2.200		07/27/18		11,466
	40,000,000		Royal Bank of Canada		1.875		02/05/20		40,209
	3,950,000		Royal Bank of Canada		2.500		01/19/21		4,035
	1,100,000	g	Shinhan Bank		3.875		03/24/26		1,113
	15,000,000	g	Skandinaviska Enskilda Banken AB		1.375		05/29/18		14,968
	13,100,000	g	Skandinaviska Enskilda Banken AB		2.625		11/17/20		13,229
	3,475,000	g	Societe Generale S.A.		4.750		11/24/25		3,441
	3,800,000		Sumitomo Mitsui Banking Corp		2.500		07/19/18		3,853
	6,650,000		Sumitomo Mitsui Banking Corp		2.450		01/16/20		6,731
	4,025,000		Sumitomo Mitsui Banking Corp		3.650		07/23/25		4,223
	6,850,000		SunTrust Banks, Inc		2.900		03/03/21		6,954
	5,700,000		SunTrust Banks, Inc		2.750		05/01/23		5,598
	7,650,000		Toronto-Dominion Bank		1.125		05/02/17		7,656
	13,700,000		Toronto-Dominion Bank		2.500		12/14/20		13,982
	9,300,000		Toronto-Dominion Bank		2.125		04/07/21		9,284
	1,325,000	g	Turkiye Garanti Bankasi AS.		4.750		10/17/19		1,345
	1,700,000	g	Turkiye Halk Bankasi AS.		4.750		06/04/19		1,694
	2,350,000	g	Turkiye Is Bankasi		3.750		10/10/18		2,344
	2,775,000	g	Turkiye Is Bankasi		5.500		04/21/19		2,859
	2,800,000	g	Turkiye Is Bankasi		5.375		10/06/21		2,801
	7,100,000		Union Bank NA		2.125		06/16/17		7,137
	5,700,000		UnionBanCal Corp		3.500		06/18/22		5,919
	17,650,000		US Bank NA		2.800		01/27/25		18,016
	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		11,023
			TOTAL BANKS						822,193
CAPITAL GOODS - 0.6%
	5,700,000		Caterpillar Financial Services Corp		3.250		12/01/24		5,940
	8,000,000		Deere & Co		2.600		06/08/22		8,180
	2,075,000		Eaton Corp		4.000		11/02/32		2,100
	250,000		Eaton Corp		4.150		11/02/42		251
	2,200,000		Embraer Netherlands Finance BV		5.050		06/15/25		1,933
	1,500,000	g	Gold Fields Orogen Holding BVI Ltd		4.875		10/07/20		1,350
	1,300,000	g	Huntington Ingalls Industries, Inc		5.000		12/15/21		1,365

311

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,250,000		Ingersoll-Rand Luxembourg Finance S.A.		3.550	%	11/01/24	$	4,355
	6,000,000		John Deere Capital Corp		1.700		01/15/20		5,988
	8,350,000		Lockheed Martin Corp		2.500		11/23/20		8,556
	5,200,000		Lockheed Martin Corp		3.550		01/15/26		5,504
	200,000		Lockheed Martin Corp		4.700		05/15/46		224
	1,308,480	g	Odebrecht Offshore Drilling Finance Ltd		6.625		10/01/22		288
	1,758,800	g	Odebrecht Offshore Drilling Finance Ltd		6.750		10/01/22		387
	4,925,000		Rockwell Automation, Inc		2.050		03/01/20		4,983
	4,995,000		Rockwell Automation, Inc		2.875		03/01/25		5,070
	1,250,000	g	Schaeffler Finance BV		4.750		05/15/21		1,281
	2,075,000		Textron, Inc		3.875		03/01/25		2,092
	12,950,000		Timken Co		3.875		09/01/24		12,717
	7,000,000	g	TSMC Global Ltd		1.625		04/03/18		6,961
			TOTAL CAPITAL GOODS						79,525
COMMERCIAL & PROFESSIONAL SERVICES - 0.9%
	2,105,000		21st Century Fox America, Inc		7.625		11/30/28		2,857
	1,578,000		21st Century Fox America, Inc		6.550		03/15/33		1,893
	7,375,000		21st Century Fox America, Inc		6.900		08/15/39		9,184
	1,425,000		ADT Corp		6.250		10/15/21		1,432
	1,390,000		ADT Corp		3.500		07/15/22		1,202
	1,250,000		AECOM		5.750		10/15/22		1,297
	4,875,000		AECOM		5.875		10/15/24		5,046
	7,175,000		Air Lease Corp		3.875		04/01/21		7,292
	7,950,000	g	Daimler Finance North America LLC		3.300		05/19/25		8,110
	7,250,000		Fluor Corp		3.500		12/15/24		7,523
	10,290,000		Republic Services, Inc		3.800		05/15/18		10,731
	5,375,000		Republic Services, Inc		3.550		06/01/22		5,676
	6,625,000		Republic Services, Inc		3.200		03/15/25		6,663
	2,000,000		United Rentals North America, Inc		4.625		07/15/23		1,987
	13,700,000		Visa, Inc		2.200		12/14/20		14,046
	9,250,000		Visa, Inc		3.150		12/14/25		9,660
	7,150,000		Waste Management, Inc		2.600		09/01/16		7,196
	15,050,000		Waste Management, Inc		2.900		09/15/22		15,345
	2,000,000		Waste Management, Inc		3.900		03/01/35		1,942
	2,225,000		Waste Management, Inc		4.100		03/01/45		2,234
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						121,316
CONSUMER DURABLES & APPAREL - 0.4%
	9,600,000		DR Horton, Inc		3.750		03/01/19		9,792
	3,000,000		Lennar Corp		4.500		11/15/19		3,120
	3,000,000		Lennar Corp		4.750		04/01/21		3,037
	2,000,000		Masco Corp		3.500		04/01/21		2,015
	3,850,000		Newell Rubbermaid, Inc		3.150		04/01/21		3,957
	2,875,000		Newell Rubbermaid, Inc		3.900		11/01/25		2,857
	6,175,000		Newell Rubbermaid, Inc		4.200		04/01/26		6,458
	3,825,000		Newell Rubbermaid, Inc		5.375		04/01/36		4,063
	5,875,000		Newell Rubbermaid, Inc		5.500		04/01/46		6,360
	500,000		PulteGroup, Inc		4.250		03/01/21		508
	1,000,000		PulteGroup, Inc		5.500		03/01/26		1,029
	6,900,000		PVH Corp		4.500		12/15/22		7,072
	2,625,000		Whirlpool Corp		3.700		03/01/23		2,730
			TOTAL CONSUMER DURABLES & APPAREL						52,998

312

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
CONSUMER SERVICES - 1.1%
$	4,000,000	g	1011778 BC / New Red Fin		6.000	%	04/01/22	$	4,160
	11,000,000		Amherst College		4.100		11/01/45		11,904
	2,475,000		GLP Capital LP		4.375		11/01/18		2,543
	1,840,000	g	International Game Technology		5.625		02/15/20		1,909
	1,610,000	g	International Game Technology		6.250		02/15/22		1,638
	1,610,000	g	International Game Technology		6.500		02/15/25		1,594
	5,000,000		Johns Hopkins University		4.083		07/01/53		5,277
	8,000,000		President and Fellows of Harvard College		3.529		10/01/31		8,159
	14,250,000		President and Fellows of Harvard College		3.619		10/01/37		14,524
	11,650,000	g	SABMiller Holdings, Inc		3.750		01/15/22		12,368
	5,000,000		Scientific Games International, Inc		6.250		09/01/20		3,000
	6,475,000		Service Corp International		5.375		05/15/24		6,848
	35,000,000		Stanford University		4.013		05/01/42		38,499
	21,000,000		University of Chicago		4.151		10/01/45		21,507
	13,700,000		Walt Disney Co		2.300		02/12/21		14,152
			TOTAL CONSUMER SERVICES						148,082
DIVERSIFIED FINANCIALS - 4.8%
	3,875,000		Abbey National Treasury Services plc		4.000		04/27/16		3,883
	2,000,000		American Express Centurion Bank		6.000		09/13/17		2,124
	5,550,000		American Express Credit Corp		2.250		08/15/19		5,620
	9,750,000		American Express Credit Corp		2.375		05/26/20		9,898
	2,150,000	g,i	Armor Re Ltd		4.278		12/15/16		2,131
	6,250,000	i	Bank of New York Mellon Corp (Step Bond)		1.969		06/20/17		6,310
	4,125,000		Bank of New York Mellon Corp		5.450		05/15/19		4,588
	400,000		Bank of New York Mellon Corp		4.150		02/01/21		437
	10,500,000		Bank of New York Mellon Corp		2.500		04/15/21		10,712
	11,550,000	g	Bayer US Finance LLC		2.375		10/08/19		11,909
	8,100,000	g	Bayer US Finance LLC		3.375		10/08/24		8,543
	6,650,000	g	BBVA Bancomer S.A.		6.750		09/30/22		7,381
	2,100,000	g,i	BBVA Bancomer S.A.		5.350		11/12/29		2,016
	24,600,000	g	Caisse Centrale Desjardins du Quebec		1.600		03/06/17		24,743
	1,150,000	g	Comcel Trust		6.875		02/06/24		1,075
	3,700,000		Countrywide Financial Corp		6.250		05/15/16		3,721
	7,175,000		Credit Suisse		2.300		05/28/19		7,244
	5,675,000		Credit Suisse		3.000		10/29/21		5,792
	7,225,000		Credit Suisse Group Funding Guernsey Ltd		3.800		09/15/22		7,193
	10,250,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		9,796
	6,500,000		Credit Suisse Group Funding Guernsey Ltd		4.875		05/15/45		6,194
	2,000,000	g	Export-Import Bank of China		2.850		09/16/20		2,040
	10,000,000	g	FMR LLC		4.950		02/01/33		10,329
	11,425,000	g	FMR LLC		5.150		02/01/43		12,106
	6,660,000		Ford Motor Credit Co LLC		4.250		02/03/17		6,809
	3,340,000		Ford Motor Credit Co LLC		6.625		08/15/17		3,543
	6,600,000		Ford Motor Credit Co LLC		2.375		03/12/19		6,641
	13,600,000		Ford Motor Credit Co LLC		3.157		08/04/20		13,878
	16,975,000		Ford Motor Credit Co LLC		3.200		01/15/21		17,365
	35,825,000		Ford Motor Credit Co LLC		4.134		08/04/25		37,234
	22,389,000	g	GE Capital International Funding Co		3.373		11/15/25		23,902
	5,228,000	g	GE Capital International Funding Co		4.418		11/15/35		5,658
	1,432,000		General Electric Capital Corp		5.875		01/14/38		1,868

313

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	108,000		General Electric Capital Corp		6.875	%	01/10/39	$	157
	4,911,000		General Motors Financial Co, Inc		3.500		07/10/19		5,037
	3,158,000		General Motors Financial Co, Inc		3.200		07/13/20		3,152
	11,725,000		General Motors Financial Co, Inc		4.200		03/01/21		12,116
	3,900,000		General Motors Financial Co, Inc		4.375		09/25/21		4,033
	5,000,000		General Motors Financial Co, Inc		3.450		04/10/22		4,912
	500,000		General Motors Financial Co, Inc		4.300		07/13/25		495
	5,500,000		General Motors Financial Co, Inc		5.250		03/01/26		5,772
	11,075,000		Goldman Sachs Group, Inc		2.375		01/22/18		11,219
	8,525,000		Goldman Sachs Group, Inc		2.750		09/15/20		8,657
	7,800,000		Goldman Sachs Group, Inc		3.625		01/22/23		8,047
	13,575,000		Goldman Sachs Group, Inc		3.500		01/23/25		13,707
	6,425,000		Goldman Sachs Group, Inc		4.250		10/21/25		6,531
	7,675,000		Goldman Sachs Group, Inc		4.800		07/08/44		8,027
	10,550,000		Goldman Sachs Group, Inc		5.150		05/22/45		10,720
	4,375,000		Goldman Sachs Group, Inc		4.750		10/21/45		4,574
	5,425,000	g	Hyundai Capital America		2.600		03/19/20		5,429
	2,750,000	g	Hyundai Capital Services, Inc		3.500		09/13/17		2,814
	1,725,000		Icahn Enterprises LP		5.875		02/01/22		1,637
	4,800,000	g	ICICI Bank Ltd		3.500		03/18/20		4,932
	2,100,000	g	ICICI Bank Ltd		4.000		03/18/26		2,110
	550,000		Intercontinental Exchange, Inc		2.750		12/01/20		563
	9,250,000		International Lease Finance Corp		5.750		05/15/16		9,273
	8,400,000		International Lease Finance Corp		3.875		04/15/18		8,448
	3,200,000		International Lease Finance Corp		5.875		04/01/19		3,380
	5,000,000		International Lease Finance Corp		5.875		08/15/22		5,425
	250,000		Jefferies Group, Inc		6.450		06/08/27		262
	1,625,000		Legg Mason, Inc		2.700		07/15/19		1,641
	2,400,000		Legg Mason, Inc		3.950		07/15/24		2,385
	2,000,000	g	Lukoil International Finance BV		3.416		04/24/18		1,987
	21,500,000		Morgan Stanley		1.875		01/05/18		21,571
	8,825,000		Morgan Stanley		2.650		01/27/20		8,959
	15,000,000		Morgan Stanley		2.800		06/16/20		15,283
	9,475,000		Morgan Stanley		3.750		02/25/23		9,875
	24,800,000		Morgan Stanley		3.700		10/23/24		25,646
	9,300,000		Morgan Stanley		4.000		07/23/25		9,729
	4,400,000		Morgan Stanley		3.875		01/27/26		4,592
	8,000,000		Morgan Stanley		4.350		09/08/26		8,237
	7,750,000		Morgan Stanley		6.375		07/24/42		10,154
	300,000		Morgan Stanley		4.300		01/27/45		302
	3,300,000	g	Nacional Financiera SNC		3.375		11/05/20		3,325
	3,800,000		National Rural Utilities Cooperative Finance Corp		10.375		11/01/18		4,635
	6,500,000	g	Nederlandse Waterschapsbank NV		1.875		03/13/19		6,612
	5,000,000	g	Nederlandse Waterschapsbank NV		1.875		04/14/22		5,008
	4,000,000	g	Reliance Holdings USA		4.500		10/19/20		4,305
	100,000		State Street Corp		4.375		03/07/21		110
	43,886,288		Tagua Leasing LLC		1.900		07/12/24		44,059
	6,800,000	g	UBS Group Funding Jersey Ltd		2.950		09/24/20		6,825
	7,425,000	g	UBS Group Funding Jersey Ltd		4.125		04/15/26		7,424
	3,375,000		Unilever Capital Corp		3.100		07/30/25		3,617
	11,725,000		Wells Fargo & Co		2.500		03/04/21		11,879
	6,800,000		Wells Fargo & Co		3.900		05/01/45		6,803
			TOTAL DIVERSIFIED FINANCIALS						659,075

314

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
ENERGY - 2.8%
$	7,950,000		Anadarko Petroleum Corp		5.950	%	09/15/16	$	8,080
	8,900,000		Anadarko Petroleum Corp		4.850		03/15/21		9,065
	4,200,000		Anadarko Petroleum Corp		5.550		03/15/26		4,246
	2,850,000		Apache Corp		4.750		04/15/43		2,559
	1,900,000		Apache Corp		4.250		01/15/44		1,623
	6,650,000		Ashland, Inc		4.750		08/15/22		6,758
	16,500,000		BP Capital Markets plc		1.375		05/10/18		16,405
	13,300,000		BP Capital Markets plc		2.315		02/13/20		13,414
	690,000		California Resources Corp		5.000		01/15/20		159
	3,129,000	g	California Resources Corp		8.000		12/15/22		1,205
	478,000		California Resources Corp		6.000		11/15/24		108
	16,975,000		Chevron Corp		2.419		11/17/20		17,448
	500,000		Cimarex Energy Co		5.875		05/01/22		516
	8,395,000		Cimarex Energy Co		4.375		06/01/24		8,269
	5,475,000		Concho Resources, Inc		5.500		04/01/23		5,365
	3,300,000		Devon Energy Corp		5.000		06/15/45		2,464
	1,750,000		Dynegy, Inc		6.750		11/01/19		1,741
	1,600,000		Ecopetrol S.A.		4.125		01/16/25		1,356
	3,000,000		Ecopetrol S.A.		5.375		06/26/26		2,728
	3,250,000		Enbridge Energy Partners LP		5.200		03/15/20		3,256
	3,375,000		Enbridge Energy Partners LP		4.375		10/15/20		3,296
	6,800,000		Enbridge Energy Partners LP		5.875		10/15/25		6,860
	8,300,000		Energy Transfer Equity LP		5.500		06/01/27		6,619
	10,450,000		Enterprise Products Operating LLC		3.750		02/15/25		10,435
	7,500,000		Enterprise Products Operating LLC		5.100		02/15/45		7,282
	5,150,000		EOG Resources, Inc		4.150		01/15/26		5,340
	2,250,000		Exterran Partners LP		6.000		10/01/22		1,620
	13,750,000		Exxon Mobil Corp		2.222		03/01/21		13,990
	14,325,000		Exxon Mobil Corp		3.043		03/01/26		14,668
	7,550,000		Exxon Mobil Corp		4.114		03/01/46		8,008
	2,739,000		Husky Energy, Inc		3.950		04/15/22		2,721
	1,900,000	g	Indo Energy Finance II BV		6.375		01/24/23		817
	1,000,000	g	KMG Finance Sub BV		6.375		04/09/21		1,028
	2,625,000		Noble Energy, Inc		5.625		05/01/21		2,638
	900,000		Noble Energy, Inc		3.900		11/15/24		848
	1,850,000		Noble Energy, Inc		5.250		11/15/43		1,600
	6,675,000		Occidental Petroleum Corp		2.600		04/15/22		6,732
	3,425,000		Occidental Petroleum Corp		3.500		06/15/25		3,509
	3,370,000		Occidental Petroleum Corp		3.400		04/15/26		3,396
	10,850,000		ONE Gas, Inc		2.070		02/01/19		10,889
	3,500,000		ONE Gas, Inc		3.610		02/01/24		3,661
	3,900,000		Pemex Project Funding Master Trust		6.625		06/15/35		3,744
	2,000,000	g	Pertamina Persero PT		4.875		05/03/22		2,032
	1,300,000	g	Pertamina Persero PT		4.300		05/20/23		1,268
	2,000,000	i	Petrobras Global Finance BV		2.762		01/15/19		1,625
	8,950,000		Petrobras Global Finance BV		3.000		01/15/19		7,670
	16,600,000		Petrobras Global Finance BV		4.875		03/17/20		13,815
	5,000,000		Petrobras International Finance Co		5.875		03/01/18		4,799
	3,400,000	g	Petroleos Mexicanos		5.500		02/04/19		3,561
	6,750,000	g	Petroleos Mexicanos		6.375		02/04/21		7,199
	1,500,000		Petroleos Mexicanos		4.875		01/24/22		1,489

315

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	14,000,000		Petroleos Mexicanos		1.950	%	12/20/22	$	14,124
	7,490,000		Petroleos Mexicanos		2.000		12/20/22		7,569
	5,000,000		Petroleos Mexicanos		3.500		01/30/23		4,531
	1,000,000		Petroleos Mexicanos		4.250		01/15/25		926
	1,000,000		Petroleos Mexicanos		6.500		06/02/41		941
	2,180,000		Petroleos Mexicanos		5.500		06/27/44		1,815
	1,400,000		Petroleos Mexicanos		5.625		01/23/46		1,177
	1,895,833		Petroleum Co of Trinidad & Tobago Ltd		6.000		05/08/22		1,782
	614,000		Pioneer Natural Resources Co		7.500		01/15/20		694
	8,675,000		Pioneer Natural Resources Co		3.450		01/15/21		8,633
	6,850,000		Pioneer Natural Resources Co		4.450		01/15/26		6,907
	2,025,000		Plains All American Pipeline LP		3.600		11/01/24		1,747
	2,674,000		Precision Drilling Trust		6.625		11/15/20		2,139
	1,250,000		Questar Market Resources, Inc		6.875		03/01/21		1,147
	3,335,000		Range Resources Corp		5.000		08/15/22		2,876
	1,425,000		Regency Energy Partners LP		5.875		03/01/22		1,385
	6,000,000		Shell International Finance BV		2.375		08/21/22		5,949
	16,250,000		Shell International Finance BV		3.250		05/11/25		16,383
	2,075,000		Statoil ASA		1.200		01/17/18		2,070
	5,300,000		Statoil ASA		2.450		01/17/23		5,140
	8,875,000		Statoil ASA		4.250		11/23/41		8,597
	250,000		Suncor Energy, Inc		3.600		12/01/24		248
	2,000,000		Targa Resources Partners LP		5.000		01/15/18		1,995
	2,000,000		Tesoro Corp		5.125		04/01/24		1,965
	1,000,000		Total Capital International S.A.		1.000		01/10/17		999
	3,400,000		TransCanada PipeLines Ltd		5.850		03/15/36		3,476
	2,750,000	i	TransCanada PipeLines Ltd		6.350		05/15/67		1,863
	1,000,000		Vale Overseas Ltd		4.375		01/11/22		852
	2,760,000		Vale Overseas Ltd		6.875		11/21/36		2,182
	1,050,000		WPX Energy, Inc		7.500		08/01/20		822
	850,000		WPX Energy, Inc		8.250		08/01/23		659
	2,400,000		WPX Energy, Inc		5.250		09/15/24		1,668
			TOTAL ENERGY						383,185
FOOD & STAPLES RETAILING - 0.5%
	19,700,000		CVS Health Corp		2.800		07/20/20		20,454
	4,600,000		CVS Health Corp		3.375		08/12/24		4,834
	17,300,000		CVS Health Corp		3.875		07/20/25		18,677
	150,000		CVS Health Corp		5.125		07/20/45		174
	4,900,000		Ingles Markets, Inc		5.750		06/15/23		4,974
	2,275,000	h	SYSCO Corp		2.500		07/15/21		2,300
	10,750,000		Walgreens Boots Alliance, Inc		2.700		11/18/19		10,976
	11,775,000		Walgreens Boots Alliance, Inc		3.800		11/18/24		12,121
			TOTAL FOOD & STAPLES RETAILING						74,510
FOOD, BEVERAGE & TOBACCO - 1.0%
	4,916,000	g	Anadolu Efes Biracilik Ve Malt Sanayii AS.		3.375		11/01/22		4,311
	13,700,000		Anheuser-Busch InBev Finance, Inc		2.650		02/01/21		14,084
	13,725,000		Anheuser-Busch InBev Finance, Inc		3.650		02/01/26		14,434
	10,450,000		Anheuser-Busch InBev Finance, Inc		4.900		02/01/46		11,676
	14,775,000		Anheuser-Busch InBev Worldwide, Inc		2.500		07/15/22		14,907
	3,000,000	g	Corp Lindley S.A.		4.625		04/12/23		3,052
	2,435,000	g	Embotelladora Andina S.A.		5.000		10/01/23		2,592

316

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,600,000		Fomento Economico Mexicano SAB de C.V.		2.875	%	05/10/23	$	5,423
	200,000	g	HJ Heinz Co		5.200		07/15/45		224
	150,000		JM Smucker Co		4.375		03/15/45		157
	4,115,000		Mead Johnson Nutrition Co		4.900		11/01/19		4,510
	3,650,000		Mead Johnson Nutrition Co		3.000		11/15/20		3,752
	6,200,000		Mondelez International, Inc		4.000		02/01/24		6,659
	680,000		PepsiCo, Inc		7.900		11/01/18		792
	3,950,000		PepsiCo, Inc		2.750		04/30/25		4,050
	5,850,000		PepsiCo, Inc		2.850		02/24/26		6,008
	18,100,000		PepsiCo, Inc		4.450		04/14/46		20,187
	2,000,000	g	Pernod-Ricard S.A.		2.950		01/15/17		2,020
	6,850,000	g	Pernod-Ricard S.A.		4.250		07/15/22		7,366
	8,125,000		Philip Morris International, Inc		3.375		08/11/25		8,762
	1,600,000		Philip Morris International, Inc		6.375		05/16/38		2,136
	3,650,000		Tyson Foods, Inc		3.950		08/15/24		3,893
	2,150,000		Tyson Foods, Inc		4.875		08/15/34		2,313
			TOTAL FOOD, BEVERAGE & TOBACCO						143,308
HEALTH CARE EQUIPMENT & SERVICES - 1.3%
	3,900,000		Becton Dickinson & Co		1.750		11/08/16		3,913
	2,425,000		Becton Dickinson & Co		3.734		12/15/24		2,583
	6,175,000		Becton Dickinson & Co		4.685		12/15/44		6,672
	1,000,000		CHS/Community Health Systems		5.125		08/01/21		1,012
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		4,004
	9,800,000		Express Scripts Holding Co		3.900		02/15/22		10,223
	3,975,000		Express Scripts Holding Co		4.500		02/25/26		4,128
	4,000,000	g	Fresenius Medical Care Capital Trust		5.625		07/31/19		4,364
	4,500,000	g	Fresenius Medical Care Capital Trust		5.750		02/15/21		4,871
	4,560,000		HCA, Inc		6.500		02/15/20		5,005
	4,575,000		HCA, Inc		5.875		03/15/22		4,952
	13,825,000		Keysight Technologies, Inc		4.550		10/30/24		13,477
	2,775,000		Laboratory Corp of America Holdings		2.625		02/01/20		2,788
	4,850,000		Laboratory Corp of America Holdings		3.600		02/01/25		4,912
	10,450,000		McKesson Corp		4.883		03/15/44		11,109
	8,450,000		Medtronic, Inc		3.500		03/15/25		9,020
	9,625,000		Medtronic, Inc		4.625		03/15/45		10,753
	7,100,000		Owens & Minor, Inc		3.875		09/15/21		7,159
	8,325,000		Quest Diagnostics, Inc		3.500		03/30/25		8,378
	6,700,000		Stryker Corp		2.625		03/15/21		6,831
	2,500,000		Stryker Corp		3.500		03/15/26		2,592
	2,000,000		Tenet Healthcare Corp		4.375		10/01/21		2,005
	6,125,000		Thermo Fisher Scientific, Inc		2.250		08/15/16		6,159
	2,700,000		Thermo Fisher Scientific, Inc		2.400		02/01/19		2,734
	3,100,000		Thermo Fisher Scientific, Inc		3.300		02/15/22		3,163
	4,325,000		Thermo Fisher Scientific, Inc		3.150		01/15/23		4,304
	10,100,000		Zimmer Holdings, Inc		2.700		04/01/20		10,245
	10,975,000		Zimmer Holdings, Inc		3.550		04/01/25		11,094
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						168,450
HOUSEHOLD & PERSONAL PRODUCTS - 0.2%
	7,175,000		Clorox Co		3.800		11/15/21		7,699
	4,900,000		Clorox Co		3.500		12/15/24		5,107
	6,800,000		Colgate-Palmolive Co		4.000		08/15/45		7,475

317

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,525,000		Ecolab, Inc		1.450	%	12/08/17	$	4,515
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						24,796
INSURANCE - 1.9%
	350,000		ACE INA Holdings, Inc		4.350		11/03/45		382
	150,000		Aetna, Inc		4.125		06/01/21		163
	1,925,000		Aetna, Inc		6.625		06/15/36		2,446
	6,200,000		Allstate Corp		3.150		06/15/23		6,376
	6,200,000		Allstate Corp		4.500		06/15/43		6,804
	7,825,000		American International Group, Inc		2.300		07/16/19		7,895
	11,850,000		American International Group, Inc		3.300		03/01/21		12,120
	100,000		Berkshire Hathaway Finance Corp		4.300		05/15/43		106
	19,230,000		Children’s Hospital Medic		4.268		05/15/44		19,851
	3,750,000		Chubb Corp		6.000		05/11/37		4,866
	1,390,000		Cigna Corp		5.125		06/15/20		1,542
	6,900,000		Cigna Corp		4.500		03/15/21		7,491
	4,900,000		Cigna Corp		3.250		04/15/25		4,869
	21,975,000	g	Five Corners Funding Trust		4.419		11/15/23		23,043
	2,800,000		Lincoln National Corp		7.000		06/15/40		3,416
	500,000		Marsh & McLennan Cos, Inc		4.800		07/15/21		552
	2,200,000	g,i	Merna Reinsurance IV Ltd		2.698		04/08/16		2,198
	7,675,000		MetLife, Inc		6.750		06/01/16		7,749
	2,000,000		MetLife, Inc		4.368		09/15/23		2,193
	10,000,000		MetLife, Inc		3.000		03/01/25		9,842
	9,500,000		MetLife, Inc		4.721		12/15/44		9,905
	6,050,000		MetLife, Inc		4.050		03/01/45		5,725
	6,600,000	i	MetLife, Inc		5.250		12/30/49		6,307
	2,825,000		Principal Financial Group, Inc		1.850		11/15/17		2,831
	5,500,000		Progressive Corp		3.750		08/23/21		5,923
	8,050,000		Prudential Financial, Inc		7.375		06/15/19		9,344
	8,000,000		Prudential Financial, Inc		5.400		06/13/35		8,506
	7,775,000		Prudential Financial, Inc		5.100		08/15/43		8,112
	4,025,000	i	Prudential Financial, Inc		5.200		03/15/44		3,880
	150,000		Prudential Financial, Inc		4.600		05/15/44		150
	13,150,000	i	Prudential Financial, Inc		5.375		05/15/45		13,018
	3,000,000	g	Prudential Funding LLC		6.750		09/15/23		3,616
	2,425,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		2,436
	6,100,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		6,013
	4,250,000		Travelers Cos, Inc		5.800		05/15/18		4,614
	6,650,000		UnitedHealth Group, Inc		3.750		07/15/25		7,168
	3,050,000		UnitedHealth Group, Inc		3.100		03/15/26		3,123
	200,000		UnitedHealth Group, Inc		4.625		07/15/35		223
	13,600,000		UnitedHealth Group, Inc		4.750		07/15/45		15,600
	6,750,000		WellPoint, Inc		3.125		05/15/22		6,789
	7,850,000		WellPoint, Inc		4.625		05/15/42		7,820
	500,000		Willis Group Holdings plc		5.750		03/15/21		557
	2,400,000		WR Berkley Corp		5.375		09/15/20		2,646
			TOTAL INSURANCE						258,210
MATERIALS - 1.4%
	6,630,000		Air Products & Chemicals, Inc		4.375		08/21/19		7,154
	675,000		Alcoa, Inc		5.125		10/01/24		648
	1,365,000		Ball Corp		5.000		03/15/22		1,426

318

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,034,000		Barrick Gold Corp		4.100	%	05/01/23	$	2,956
	3,417,000		BHP Billiton Finance USA Ltd		5.000		09/30/43		3,477
	2,500,000	g	Blue Cube Spinco, Inc		9.750		10/15/23		2,856
	1,425,000	g	Blue Cube Spinco, Inc		10.000		10/15/25		1,628
	1,300,000		Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		1,329
	2,300,000	g	Cemex Finance LLC		6.000		04/01/24		2,174
	200,000	g	Cemex SAB de C.V.		5.700		01/11/25		185
	1,475,000	g	Cemex SAB de C.V.		7.750		04/16/26		1,515
	3,175,000		CF Industries, Inc		7.125		05/01/20		3,616
	3,550,000		Corning, Inc		1.450		11/15/17		3,536
	1,550,000	g	Corp Nacional del Cobre de Chile		5.625		10/18/43		1,604
	800,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.750		11/04/20		837
	1,600,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.875		11/03/21		1,638
	1,475,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.000		07/17/22		1,419
	2,400,000	g	Corp Nacional del Cobre de Chile-CODELCO		4.500		09/16/25		2,450
	1,275,000	g	Corp Nacional del Cobre de Chile-CODELCO		4.875		11/04/44		1,196
	1,390,000		Crown Americas LLC		4.500		01/15/23		1,418
	1,000,000		Eastman Chemical Co		5.500		11/15/19		1,108
	5,450,000		Eastman Chemical Co		3.800		03/15/25		5,591
	200,000		EI du Pont de Nemours & Co		2.800		02/15/23		201
	1,700,000		Fibria Overseas Finance Ltd		5.250		05/12/24		1,649
	4,840,000	g	Fresnillo plc		5.500		11/13/23		4,967
	8,775,000	g	Georgia-Pacific LLC		2.539		11/15/19		8,814
	5,375,000	g	Glencore Funding LLC		2.125		04/16/18		5,019
	28,950,000	g	Glencore Funding LLC		2.500		01/15/19		26,489
	6,450,000	g	Glencore Funding LLC		4.625		04/29/24		5,357
	6,650,000	g	Glencore Funding LLC		4.000		04/16/25		5,216
	1,825,000	g	GTL Trade Finance, Inc		5.893		04/29/24		1,483
	12,000,000		International Paper Co		4.750		02/15/22		13,174
	6,925,000		Kimberly-Clark Corp		2.750		02/15/26		7,081
	2,800,000	g	Klabin Finance S.A.		5.250		07/16/24		2,644
	3,000,000		LyondellBasell Industries NV		5.000		04/15/19		3,206
	5,425,000		LyondellBasell Industries NV		4.625		02/26/55		4,848
	6,840,000		Nucor Corp		4.000		08/01/23		7,131
	3,800,000	g	OCP S.A.		5.625		04/25/24		3,951
	2,860,000	g	Owens-Brockway Glass Container, Inc		5.375		01/15/25		2,860
	3,150,000		Packaging Corp of America		3.650		09/15/24		3,126
	4,550,000		Rio Tinto Finance USA plc		2.250		12/14/18		4,568
	5,000,000		Rock Tenn Co		3.500		03/01/20		5,071
	3,000,000		Rock Tenn Co		4.000		03/01/23		3,074
	665,000	g	Sealed Air Corp		6.500		12/01/20		751
	1,370,000	g	Sealed Air Corp		5.250		04/01/23		1,449
	1,675,000		Steel Dynamics, Inc		5.125		10/01/21		1,692
	3,200,000		Teck Resources Ltd		3.750		02/01/23		2,110
	2,000,000	g	Union Andina de Cementos SAA		5.875		10/30/21		2,005
			TOTAL MATERIALS						177,697
MEDIA - 1.9%
	6,750,000		CBS Corp		2.300		08/15/19		6,821
	3,500,000		CBS Corp		4.000		01/15/26		3,657
	3,450,000		CBS Corp		4.600		01/15/45		3,256
	11,150,000	g	CCO Safari II LLC		3.579		07/23/20		11,398
	8,295,000	g	CCO Safari II LLC		4.464		07/23/22		8,690

319

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	13,900,000	g	CCO Safari II LLC		4.908	%	07/23/25	$	14,667
	1,000,000		Cinemark USA, Inc		5.125		12/15/22		1,024
	3,500,000		Cinemark USA, Inc		4.875		06/01/23		3,530
	26,000,000		Comcast Corp		4.250		01/15/33		27,696
	6,600,000		Comcast Corp		4.600		08/15/45		7,324
	2,430,000	g	Gannett Co, Inc		4.875		09/15/21		2,503
	2,925,000	g	Gannett Co, Inc		5.500		09/15/24		3,013
	825,000		Grupo Televisa S.A.		6.000		05/15/18		895
	4,800,000		Grupo Televisa SAB		4.625		01/30/26		5,063
	2,675,000		Grupo Televisa SAB		5.000		05/13/45		2,441
	1,850,000		Lamar Media Corp		5.875		02/01/22		1,947
	2,000,000		Lamar Media Corp		5.000		05/01/23		2,081
	2,000,000		Lamar Media Corp		5.375		01/15/24		2,086
	7,250,000	g	NBC Universal Enterprise, Inc		1.662		04/15/18		7,316
	7,700,000	g	NBC Universal Enterprise, Inc		1.974		04/15/19		7,820
	10,350,000		NBC Universal Media LLC		2.875		01/15/23		10,737
	8,035,000		Nielsen Finance LLC		4.500		10/01/20		8,216
	4,650,000		Outfront Media Capital LLC		5.250		02/15/22		4,766
	6,600,000		Scripps Networks Interactive, Inc		2.800		06/15/20		6,614
	3,275,000	g	Sky plc		2.625		09/16/19		3,310
	3,500,000		Starz LLC		5.000		09/15/19		3,570
	5,675,000		Time Warner Cable, Inc		5.875		11/15/40		5,875
	4,075,000		Time Warner Cable, Inc		4.500		09/15/42		3,618
	20,550,000		Time Warner, Inc		2.100		06/01/19		20,731
	19,575,000		Time Warner, Inc		3.600		07/15/25		20,101
	3,825,000		Time Warner, Inc		6.500		11/15/36		4,438
	7,100,000		Time Warner, Inc		4.650		06/01/44		6,946
	150,000		Time Warner, Inc		4.850		07/15/45		153
	1,600,000	g	Time, Inc		5.750		04/15/22		1,420
	7,000,000	g	Univision Communications, Inc		5.125		05/15/23		6,965
	5,400,000		Viacom, Inc		2.500		12/15/16		5,428
	3,000,000		Viacom, Inc		3.500		04/01/17		3,037
	7,375,000		Viacom, Inc		5.850		09/01/43		7,093
	1,525,000	g	Virgin Media Finance plc		6.000		10/15/24		1,567
			TOTAL MEDIA						247,813
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.6%
	16,950,000		AbbVie, Inc		2.500		05/14/20		17,267
	7,125,000		Actavis Funding SCS		3.000		03/12/20		7,331
	19,675,000		Actavis Funding SCS		3.800		03/15/25		20,475
	400,000		Actavis Funding SCS		4.750		03/15/45		424
	6,600,000		Amgen, Inc		4.400		05/01/45		6,738
	7,500,000		Biogen, Inc		2.900		09/15/20		7,722
	7,450,000		Celgene Corp		2.875		08/15/20		7,676
	11,575,000		Celgene Corp		3.875		08/15/25		12,170
	650,000	g	Endo Finance LLC		6.000		02/01/25		609
	3,575,000		Gilead Sciences, Inc		2.350		02/01/20		3,659
	6,850,000		Gilead Sciences, Inc		3.500		02/01/25		7,248
	9,850,000		Gilead Sciences, Inc		3.650		03/01/26		10,483
	200,000		Gilead Sciences, Inc		4.750		03/01/46		220
	8,450,000		Johnson & Johnson		1.650		03/01/21		8,495
	13,275,000		Johnson & Johnson		2.450		03/01/26		13,340
	3,700,000		Johnson & Johnson		3.700		03/01/46		3,885

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,100,000	g	Mylan NV		3.750	%	12/15/20	$	4,205
	3,725,000		Mylan, Inc		2.550		03/28/19		3,730
	20,550,000		Novartis Capital Corp		3.000		11/20/25		21,434
	13,700,000		Novartis Capital Corp		4.000		11/20/45		14,667
	2,925,000		Perrigo Co plc		4.000		11/15/23		2,975
	12,200,000		Perrigo Finance plc		3.500		12/15/21		12,442
	10,225,000		Perrigo Finance plc		3.900		12/15/24		10,176
	2,850,000		Perrigo Finance plc		4.900		12/15/44		2,691
	8,000,000	g	Roche Holdings, Inc		3.350		09/30/24		8,493
	8,875,000	g	Roche Holdings, Inc		2.625		05/15/26		8,869
	3,075,000		Zoetis, Inc		3.450		11/13/20		3,160
	2,900,000		Zoetis, Inc		4.500		11/13/25		3,103
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						223,687
REAL ESTATE - 1.2%
	300,000		Boston Properties LP		4.125		05/15/21		322
	6,200,000		Boston Properties LP		3.650		02/01/26		6,412
	5,575,000		Brandywine Operating Partnership LP		4.100		10/01/24		5,522
	4,500,000		Brixmor Operating Partnership LP		3.875		08/15/22		4,393
	5,825,000		Brixmor Operating Partnership LP		3.850		02/01/25		5,340
	3,965,000		Camden Property Trust		4.625		06/15/21		4,343
	3,000,000		Camden Property Trust		2.950		12/15/22		2,976
	5,175,000		DCT Industrial Operating Partnership LP		4.500		10/15/23		5,308
	3,450,000		DDR Corp		3.625		02/01/25		3,339
	3,250,000		DDR Corp		4.250		02/01/26		3,304
	6,800,000		Developers Diversified Realty Corp		4.750		04/15/18		7,070
	3,460,000		Developers Diversified Realty Corp		7.875		09/01/20		4,159
	2,075,000		Equinix, Inc		4.875		04/01/20		2,147
	2,250,000		Equinix, Inc		5.375		01/01/22		2,334
	2,750,000		Equity One, Inc		3.750		11/15/22		2,759
	210,000		ERP Operating LP		4.625		12/15/21		234
	2,754,000		Essex Portfolio LP		3.375		01/15/23		2,809
	500,000		HCP, Inc		5.375		02/01/21		546
	2,775,000		Healthcare Realty Trust, Inc		5.750		01/15/21		3,086
	1,625,000		Healthcare Realty Trust, Inc		3.750		04/15/23		1,598
	6,600,000		Healthcare Realty Trust, Inc		3.875		05/01/25		6,414
	3,700,000		Healthcare Trust of America Holdings LP		3.375		07/15/21		3,741
	3,550,000		Healthcare Trust of America Holdings LP		3.700		04/15/23		3,495
	1,600,000		Highwoods Realty LP		5.850		03/15/17		1,657
	1,775,000		Host Hotels & Resorts LP		4.500		02/01/26		1,795
	2,800,000		Kimco Realty Corp		3.400		11/01/22		2,856
	3,600,000		Mid-America Apartments LP		4.300		10/15/23		3,795
	5,525,000		Mid-America Apartments LP		3.750		06/15/24		5,609
	4,300,000		Mid-America Apartments LP		4.000		11/15/25		4,391
	3,600,000		National Retail Properties, Inc		3.800		10/15/22		3,735
	5,425,000		National Retail Properties, Inc		3.300		04/15/23		5,378
	2,575,000		National Retail Properties, Inc		4.000		11/15/25		2,650
	2,375,000	g	PLA Administradora Industrial S de RL de C.V.		5.250		11/10/22		2,292
	400,000		ProLogis LP		3.350		02/01/21		417
	169,000		Regency Centers LP		5.875		06/15/17		177
	7,225,000		Regency Centers LP		3.900		11/01/25		7,406
	3,040,000		Simon Property Group LP		10.350		04/01/19		3,750
	122,000		Simon Property Group LP		4.375		03/01/21		134

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,300,000	g	Trust F		5.250	%	01/30/26	$	1,287
	1,255,000	g	Trust F/1401		5.250		12/15/24		1,277
	4,550,000		Ventas Realty LP		4.125		01/15/26		4,674
	1,170,000		Weingarten Realty Investors		3.375		10/15/22		1,165
	4,800,000		Weingarten Realty Investors		3.500		04/15/23		4,711
	3,025,000		Weingarten Realty Investors		4.450		01/15/24		3,124
	3,950,000		Weingarten Realty Investors		3.850		06/01/25		3,884
	13,475,000		Welltower, Inc		4.000		06/01/25		13,488
			TOTAL REAL ESTATE						161,303
RETAILING - 0.5%
	100,000		Amazon.com, Inc		4.950		12/05/44		115
	600,000	g	Asbury Automotive Group, Inc		6.000		12/15/24		606
	4,150,000		AutoNation, Inc		3.350		01/15/21		4,204
	4,425,000		AutoZone, Inc		3.250		04/15/25		4,433
	100,000		Best Buy Co, Inc		5.500		03/15/21		106
	150,000		Gap, Inc		5.950		04/12/21		163
	1,743,000	g	Golden Eagle Retail Group Ltd		4.625		05/21/23		1,242
	8,850,000		Home Depot, Inc		2.000		04/01/21		8,946
	8,725,000		Home Depot, Inc		3.350		09/15/25		9,459
	5,175,000		Home Depot, Inc		3.000		04/01/26		5,432
	4,200,000		L Brands, Inc		6.875		11/01/35		4,558
	3,150,000		Limited Brands, Inc		7.000		05/01/20		3,606
	8,315,000		O’Reilly Automotive, Inc		4.625		09/15/21		9,119
	4,550,000		O’Reilly Automotive, Inc		3.800		09/01/22		4,750
	1,300,000		O’Reilly Automotive, Inc		3.550		03/15/26		1,336
	5,050,000	g	Rolls-Royce plc		2.375		10/14/20		5,069
	1,850,000	g	Rolls-Royce plc		3.625		10/14/25		1,925
	150,000		Wal-Mart Stores, Inc		4.300		04/22/44		168
			TOTAL RETAILING						65,237
SOFTWARE & SERVICES - 0.4%
	3,000,000		Baidu, Inc		3.000		06/30/20		3,045
	20,350,000		Fidelity National Information Services, Inc		3.625		10/15/20		21,041
	12,121,000		Fidelity National Information Services, Inc		5.000		03/15/22		12,610
	13,850,000		Microsoft Corp		3.125		11/03/25		14,550
	3,075,000		NCR Corp		4.625		02/15/21		3,060
	525,000		NCR Corp		5.875		12/15/21		537
	1,650,000	g	Open Text Corp		5.625		01/15/23		1,683
	900,000	g	Sixsigma Networks Mexico S.A. de C.V.		8.250		11/07/21		848
			TOTAL SOFTWARE & SERVICES						57,374
TECHNOLOGY HARDWARE & EQUIPMENT - 0.5%
	3,475,000		Amphenol Corp		3.125		09/15/21		3,543
	13,900,000		Apple, Inc		2.250		02/23/21		14,166
	11,325,000		Apple, Inc		3.250		02/23/26		11,812
	4,525,000		Apple, Inc		4.650		02/23/46		4,941
	1,975,000		CC Holdings GS V LLC		2.381		12/15/17		1,992
	625,000	g	CommScope, Inc		4.375		06/15/20		642
	1,600,000	g	CommScope, Inc		5.000		06/15/21		1,612
	2,600,000	g	CommScope, Inc		5.500		06/15/24		2,626
	3,300,000		General Electric Co		5.250		12/06/17		3,538
	4,075,000		General Electric Co		4.125		10/09/42		4,278

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,075,000	g	Millicom International Cellular S.A.		6.000	%	03/15/25	$	997
	3,125,000	g	NXP BV		3.750		06/01/18		3,164
	3,450,000	g	Seagate HDD Cayman		4.875		06/01/27		2,598
	525,000	g	Sensata Technologies BV		5.625		11/01/24		546
	5,050,000		Tyco Electronics Group S.A.		2.375		12/17/18		5,108
	6,669,000		Tyco Electronics Group S.A.		3.500		02/03/22		6,943
	2,175,000		Tyco Electronics Group S.A.		3.700		02/15/26		2,252
	700,000		Zebra Technologies Corp		7.250		10/15/22		759
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						71,517
TELECOMMUNICATION SERVICES - 1.8%
	2,000,000		Alibaba Group Holding Ltd		2.500		11/28/19		2,018
	10,300,000		American Tower Corp		3.300		02/15/21		10,481
	4,350,000		American Tower Corp		3.500		01/31/23		4,392
	6,850,000		American Tower Corp		4.400		02/15/26		7,247
	21,350,000		AT&T, Inc		1.400		12/01/17		21,346
	9,650,000		AT&T, Inc		2.450		06/30/20		9,755
	8,200,000		AT&T, Inc		2.625		12/01/22		8,125
	8,800,000		AT&T, Inc		4.450		04/01/24		9,507
	12,100,000		AT&T, Inc		3.400		05/15/25		12,130
	13,750,000		AT&T, Inc		4.125		02/17/26		14,527
	12,875,000		AT&T, Inc		4.500		05/15/35		12,717
	150,000		AT&T, Inc		4.800		06/15/44		147
	4,525,000		AT&T, Inc		4.750		05/15/46		4,415
	4,400,000	g	Bharti Airtel International Netherlands BV		5.125		03/11/23		4,699
	5,525,000		British Telecommunications plc		1.625		06/28/16		5,532
	3,015,000		Crown Castle International Corp		3.400		02/15/21		3,061
	3,911,000		Crown Castle International Corp		4.875		04/15/22		4,186
	4,000,000	g	Deutsche Telekom International Finance BV		2.250		03/06/17		4,036
	4,000,000		Deutsche Telekom International Finance BV		8.750		06/15/30		6,000
	2,870,000	g	Deutsche Telekom International Finance BV		4.875		03/06/42		3,229
	7,400,000	g	ENTEL Chile S.A.		4.875		10/30/24		7,289
	3,500,000	g	Oi S.A.		5.750		02/10/22		901
	3,950,000		Orange S.A.		5.500		02/06/44		4,707
	2,050,000	g	SES		3.600		04/04/23		2,006
	11,850,000		Telefonica Emisiones SAU		4.570		04/27/23		12,951
	2,325,000		T-Mobile USA, Inc		6.375		03/01/25		2,380
	1,500,000	g	Turk Telekomunikasyon AS.		4.875		06/19/24		1,438
	9,275,000		Verizon Communications, Inc		3.450		03/15/21		9,849
	5,625,000		Verizon Communications, Inc		4.150		03/15/24		6,118
	14,025,000		Verizon Communications, Inc		4.400		11/01/34		14,182
	26,220,000		Verizon Communications, Inc		4.272		01/15/36		26,095
	10,550,000		Verizon Communications, Inc		3.850		11/01/42		9,583
	800,000		Verizon Communications, Inc		5.012		08/21/54		803
			TOTAL TELECOMMUNICATION SERVICES						245,852
TRANSPORTATION - 1.1%
	2,600,000	g	Adani Ports & Special Economic Zone Ltd		3.500		07/29/20		2,610
	6,125,000	g	AP Moeller-Maersk A.S.		2.550		09/22/19		6,067
	5,850,000	g	AP Moeller-Maersk A.S.		3.750		09/22/24		5,672
	5,730,000	g	Asciano Finance Ltd		5.000		04/07/18		5,830
	1,000,000	g	Bombardier, Inc		5.500		09/15/18		920
	1,075,000	g	Bombardier, Inc		4.750		04/15/19		933

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,500,000		Burlington Northern Santa Fe LLC		4.550	%	09/01/44	$	4,878
	72,000		Burlington Northern Santa Fe LLC		4.150		04/01/45		74
	9,200,000		Canadian Pacific Railway Co		2.900		02/01/25		8,882
	3,325,000		Canadian Pacific Railway Co		4.800		08/01/45		3,404
	11,000,000		CSX Corp		3.350		11/01/25		11,332
	3,150,000		CSX Corp		4.100		03/15/44		3,109
	3,900,000	g	ERAC USA Finance LLC		3.300		10/15/22		3,966
	4,150,000	g	ERAC USA Finance LLC		5.625		03/15/42		4,672
	5,375,000		FedEx Corp		3.250		04/01/26		5,511
	4,500,000		FedEx Corp		4.100		02/01/45		4,282
	6,311,000		GATX Corp		1.250		03/04/17		6,267
	7,150,000		GATX Corp		2.500		07/30/19		7,098
	4,425,000		GATX Corp		3.250		03/30/25		4,108
	5,900,000		GATX Corp		5.200		03/15/44		5,696
	6,650,000		GATX Corp		4.500		03/30/45		5,878
	17,344,000	g	Kansas City Southern		2.350		05/15/20		17,041
	9,075,000	g	Kansas City Southern		4.950		08/15/45		9,271
	3,750,000	g	Latam Airlines Group S.A.		7.250		06/09/20		3,450
	9,950,000		Norfolk Southern Corp		4.450		06/15/45		10,276
	2,625,000		Northrop Grumman Corp		1.750		06/01/18		2,633
	2,975,000		Southwest Airlines Co		2.750		11/06/19		3,061
	1,700,000	g	Transnet SOC Ltd		4.000		07/26/22		1,536
	3,500,000	g	TTX Co		3.600		01/15/25		3,561
			TOTAL TRANSPORTATION						152,018
UTILITIES - 3.5%
	1,250,000	i	AES Corp		3.635		06/01/19		1,206
	6,225,000		AES Corp		4.875		05/15/23		5,991
	1,500,000		AES Corp		5.500		03/15/24		1,466
	8,475,000		AGL Capital Corp		3.875		11/15/25		8,777
	2,125,000		AGL Capital Corp		4.400		06/01/43		1,948
	5,150,000		Alabama Power Co		3.550		12/01/23		5,458
	3,475,000		Alabama Power Co		4.150		08/15/44		3,624
	15,000,000		American Electric Power Co, Inc		1.650		12/15/17		14,911
	6,000,000		American Electric Power Co, Inc		2.950		12/15/22		6,079
	5,850,000		AmeriGas Finance LLC		3.750		05/01/21		5,923
	2,000,000		AmeriGas Finance LLC		7.000		05/20/22		2,050
	3,000,000		AmeriGas Partners LP		6.250		08/20/19		3,067
	5,500,000		Atmos Energy Corp		8.500		03/15/19		6,516
	8,350,000		Atmos Energy Corp		4.125		10/15/44		8,558
	4,800,000		Berkshire Hathaway Energy Co		3.500		02/01/25		5,069
	6,225,000		Black Hills Corp		4.250		11/30/23		6,675
	4,750,000		Carolina Power & Light Co		5.300		01/15/19		5,248
	2,750,000		Carolina Power & Light Co		5.700		04/01/35		3,401
	3,670,000		CenterPoint Energy Resources Corp		4.500		01/15/21		3,906
	3,550,000		CenterPoint Energy Resources Corp		6.250		02/01/37		4,063
	3,840,000	g	CEZ AS.		4.250		04/03/22		4,070
	2,500,000		CMS Energy Corp		5.050		02/15/18		2,645
	4,675,000		CMS Energy Corp		3.600		11/15/25		4,829
	4,200,000		Commonwealth Edison Co		5.900		03/15/36		5,257
	2,750,000		Connecticut Light & Power Co		5.500		02/01/19		3,048
	7,500,000		Consolidated Edison Co of New York, Inc		4.500		12/01/45		8,182
	5,775,000		Dominion Gas Holdings LLC		4.600		12/15/44		5,674

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,400,000		Duke Energy Carolinas LLC		4.300	%	06/15/20	$	1,548
	750,000		Duke Energy Corp		4.800		12/15/45		798
	1,450,000		Duke Energy Ohio, Inc		3.800		09/01/23		1,567
	7,100,000	g,i	Electricite de France		5.625		12/30/49		6,496
	13,350,000	g	Electricite de France S.A.		2.350		10/13/20		13,492
	13,350,000	g	Electricite de France S.A.		3.625		10/13/25		13,625
	3,000,000	g	Empresa Electrica Angamos S.A.		4.875		05/25/29		2,782
	2,875,000	g	Eskom Holdings SOC Ltd		5.750		01/26/21		2,646
	7,675,000	g	Exelon Corp		3.950		06/15/25		7,958
	5,525,000	g	Exelon Corp		5.100		06/15/45		6,017
	800,000		Exelon Generation Co LLC		6.200		10/01/17		851
	2,250,000		Ferrellgas Partners LP		6.500		05/01/21		1,997
	2,750,000		Ferrellgas Partners LP		6.750		01/15/22		2,441
	6,250,000	g	FirstEnergy Transmission LLC		4.350		01/15/25		6,518
	2,000,000		Florida Power Corp		6.400		06/15/38		2,708
	3,000,000		Georgia Power Co		5.400		06/01/40		3,446
	2,050,000	g	Hrvatska Elektroprivreda		5.875		10/23/22		2,103
	5,000,000		Indiana Michigan Power Co		7.000		03/15/19		5,670
	2,650,000		Indiana Michigan Power Co		4.550		03/15/46		2,728
	2,725,000		Integrys Energy Group, Inc		4.170		11/01/20		2,945
	1,350,000	g	Israel Electric Corp Ltd		6.700		02/10/17		1,401
	3,000,000	g	Israel Electric Corp Ltd		5.625		06/21/18		3,187
	1,300,000	g	Israel Electric Corp Ltd		5.000		11/12/24		1,379
	1,000,000	g	Kansas Gas & Electric		6.700		06/15/19		1,148
	2,825,000		Kinder Morgan, Inc		9.000		02/01/19		3,207
	4,900,000	g	KOC Holding AS.		5.250		03/15/23		4,888
	1,500,000	g	Korea Hydro & Nuclear Power Co Ltd		2.875		10/02/18		1,534
	1,375,000	g	Korea Hydro & Nuclear Power Co Ltd		2.375		10/28/19		1,390
	5,000,000		LG&E and KU Energy LLC		3.750		11/15/20		5,281
	12,500,000		Mercy Health		3.382		11/01/25		12,625
	9,800,000	g	Molex Electronic Technologies LLC		2.878		04/15/20		9,781
	8,250,000	g	Molex Electronic Technologies LLC		3.900		04/15/25		8,017
	4,240,000	g	MPLX LP		5.500		02/15/23		4,106
	3,800,000		MPLX LP		4.000		02/15/25		3,278
	2,800,000		Nevada Power Co		6.500		08/01/18		3,105
	3,335,000		Nevada Power Co		5.450		05/15/41		4,026
	300,000		NextEra Energy Capital Holdings, Inc		2.056		09/01/17		302
	3,700,000		NiSource Finance Corp		4.800		02/15/44		3,904
	3,375,000		Northeast Utilities		1.450		05/01/18		3,345
	2,000,000		NRG Energy, Inc		6.250		05/01/24		1,835
	2,500,000		NTPC Ltd		5.625		07/14/21		2,821
	1,000,000		NTPC Ltd		4.750		10/03/22		1,084
	7,100,000		Oncor Electric Delivery Co LLC		2.150		06/01/19		7,160
	1,280,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		1,467
	8,170,000		Oncor Electric Delivery Co LLC		4.550		12/01/41		8,443
	1,325,000		Oncor Electric Delivery Co LLC		3.750		04/01/45		1,244
	3,900,000		Pacific Gas & Electric Co		8.250		10/15/18		4,523
	6,350,000		Pacific Gas & Electric Co		2.950		03/01/26		6,449
	5,850,000		Pacific Gas & Electric Co		4.250		03/15/46		6,216
	4,500,000	g	Perusahaan Gas Negara Persero Tbk PT		5.125		05/16/24		4,606
	750,000		Potomac Electric Power Co		7.900		12/15/38		1,140
	6,925,000		PPL Capital Funding, Inc		4.200		06/15/22		7,466
	2,000,000		PPL Electric Utilities Corp		3.000		09/15/21		2,105

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,825,000		Progress Energy, Inc		7.050	%	03/15/19	$	4,356
	8,800,000		Public Service Co of Oklahoma		5.150		12/01/19		9,623
	2,640,000		Public Service Electric & Gas Co		5.300		05/01/18		2,860
	2,850,000		Public Service Electric & Gas Co		3.800		03/01/46		2,906
	2,940,000		QEP Resources, Inc		5.375		10/01/22		2,580
	250,000		Sempra Energy		2.300		04/01/17		252
	5,550,000		Sempra Energy		2.875		10/01/22		5,487
	15,000,000		Smith College		4.620		07/01/45		16,677
	3,000,000	g	Southern Gas Corridor CJSC		6.875		03/24/26		3,003
	7,825,000		Southern Power Co		4.150		12/01/25		8,066
	4,400,000	g	SP PowerAssets Ltd		3.250		11/24/25		4,623
	6,600,000		Spectra Energy Partners LP		4.500		03/15/45		5,858
	600,000		TransAlta Corp		6.900		05/15/18		597
	3,250,000	g	Transportadora de Gas del Peru S.A.		4.250		04/30/28		3,152
	3,875,000	g	Transurban Finance Co Pty Ltd		4.125		02/02/26		3,982
	3,680,000		Virginia Electric & Power Co		2.950		01/15/22		3,822
	9,325,000		Virginia Electric & Power Co		3.150		01/15/26		9,624
	1,900,000		WEC Energy Group, Inc		3.550		06/15/25		1,975
	5,075,000		Williams Partners LP		3.600		03/15/22		4,167
	7,250,000		Williams Partners LP		4.500		11/15/23		6,161
	4,125,000		Wisconsin Power & Light Co		4.100		10/15/44		4,309
	14,000,000	g	WPD Investment Holdings Ltd		3.900		05/01/16		14,023
	2,890,000		Xcel Energy, Inc		4.800		09/15/41		3,177
			TOTAL UTILITIES						479,720
			TOTAL CORPORATE BONDS						4,845,746
			(Cost $4,735,359)
GOVERNMENT BONDS -  49.3%
AGENCY SECURITIES - 1.6%
	12,684,948		AMAL Ltd		3.465		08/21/21		13,338
	5,519,306		Export Lease Ten Co LLC		1.650		05/07/25		5,465
	5,000,000		International Bank for Reconstruction & Development		0.500		04/15/16		5,000
	17,420,000		Lutheran Medical Center		1.982		02/20/30		17,151
	12,669,454		Premier Aircraft Leasing		3.576		02/06/22		13,392
	34,000,000		Private Export Funding Corp (PEFCO)		1.375		02/15/17		34,182
	10,000,000		PEFCO		2.250		12/15/17		10,210
	5,000,000		PEFCO		4.375		03/15/19		5,469
	7,240,000		PEFCO		1.450		08/15/19		7,329
	27,750,000		PEFCO		2.250		03/15/20		28,673
	35,000,000		PEFCO		4.300		12/15/21		39,842
	30,000,000		PEFCO		2.050		11/15/22		30,106
	1,681,250		Totem Ocean Trailer Express, Inc		4.514		12/18/19		1,766
	9,000,000		Ukraine Government AID Bonds		1.844		05/16/19		9,123
	13,355,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		13,972
	3,000,000		US Department of Housing and Urban Development (HUD)		5.380		08/01/18		3,051
			TOTAL AGENCY SECURITIES						238,069
FOREIGN GOVERNMENT BONDS - 4.4%
	15,000,000		African Development Bank		1.375		12/17/18		15,143
	2,250,000	g	Banque Centrale de Tunisie S.A.		5.750		01/30/25		1,946
	7,000,000	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		5,968

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
BRL	5,750,000		Brazil Notas do Tesouro Nacional Serie F		10.000	%	01/01/21	$	1,411
$	1,210,000		Brazilian Government International Bond		5.875		01/15/19		1,307
	5,750,000		Brazilian Government International Bond		4.250		01/07/25		5,267
	825,000		Brazilian Government International Bond		7.125		01/20/37		833
	2,000,000		Brazilian Government International Bond		5.625		01/07/41		1,725
	6,000,000	g	Caisse d’Amortissement de la Dette Sociale		1.500		01/28/19		6,036
	5,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		5,090
	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		4,000
	25,275,000		Canada Government International Bond		0.875		02/14/17		25,312
	3,000,000		Chile Government International Bond		3.125		01/21/26		3,032
	5,410,000		Colombia Government International Bond		4.375		07/12/21		5,640
	1,775,000		Colombia Government International Bond		2.625		03/15/23		1,651
	3,000,000		Colombia Government International Bond		4.500		01/28/26		3,068
	1,500,000		Colombia Government International Bond		6.125		01/18/41		1,575
	3,500,000	g	Costa Rica Government International Bond		7.158		03/12/45		3,168
	5,100,000	g	Croatia Government International Bond		6.375		03/24/21		5,572
	3,825,000	g	Croatia Government International Bond		5.500		04/04/23		4,036
DOP	63,500,000	g	Dominican Republic International Bond		10.000		01/05/17		1,394
$	4,625,000	g	Dominican Republic International Bond		5.500		01/27/25		4,625
	900,000	g	Dominican Republic International Bond		6.875		01/29/26		956
	4,200,000	g	Ecuador Government International Bond		10.500		03/24/20		3,780
	3,275,000	g	Egypt Government International Bond		5.875		06/11/25		2,915
	1,100,000	g	El Salvador Government International Bond		7.650		06/15/35		963
	10,000,000		European Investment Bank		2.500		04/15/21		10,475
	3,500,000		European Investment Bank		4.875		02/15/36		4,518
	3,800,000		Export-Import Bank of Korea		2.250		01/21/20		3,832
	3,800,000		Hungary Government International Bond		5.750		11/22/23		4,328
	15,200,000		Hydro Quebec		1.375		06/19/17		15,276
	400,000	g	Indonesia Government International Bond		4.125		01/15/25		402
	1,350,000	g	Indonesia Government International Bond		5.950		01/08/46		1,496
	4,000,000		Israel Government International Bond		2.875		03/16/26		4,000
	5,310,000		Italy Government International Bond		6.875		09/27/23		6,678
	1,900,000	g,i	Ivory Coast Government International Bond (Step Bond)		5.750		12/31/32		1,753
	4,000,000		Jamaica Government International Bond		7.875		07/28/45		4,060
	2,500,000	g	Japan Finance Organization for Municipalities		2.125		02/12/21		2,496
	18,750,000		KFW		2.625		01/25/22		19,755
	4,500,000	g	Kommunalbanken AS.		1.375		06/08/17		4,521
	5,800,000	g,i	Kommunalbanken AS.		0.798		02/20/18		5,789
	7,700,000	g	Kommunalbanken AS.		1.625		01/15/20		7,704
	3,750,000	g	Kommunalbanken AS.		1.625		02/10/21		3,746
	5,000,000	g	Kommuninvest I Sverige AB		2.000		11/12/19		5,117
	2,400,000		Korea Development Bank		1.500		01/22/18		2,401
	2,600,000		Korea Development Bank		2.500		03/11/20		2,656
	6,000,000	g	Korea Housing Finance Corp		1.625		09/15/18		5,957
	6,682,000		Landwirtschaftliche Rentenbank		2.000		01/13/25		6,681
	5,250,000	g	Lithuania Government International Bond		6.625		02/01/22		6,341
MXN	56,500,000		Mexican Bonos		5.750		03/05/26		3,221
$	7,297,000		Mexico Government International Bond		4.000		10/02/23		7,644
	1,150,000	g	Morocco Government International Bond		4.250		12/11/22		1,174
	3,325,000	g	Namibia International Bonds		5.250		10/29/25		3,209
	3,995,000	g	Nigeria Government International Bond		6.375		07/12/23		3,675
	43,950,000		North American Development Bank		2.400		10/26/22		44,668

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,500,000	g	Pakistan Government International Bond		8.250	%	09/30/25	$	2,658
	1,175,000		Panama Government International Bond		5.200		01/30/20		1,295
	2,407,000		Panama Government International Bond		4.000		09/22/24		2,527
	4,000,000		Panama Government International Bond		3.750		03/16/25		4,110
	6,625,000		Panama Government International Bond		3.875		03/17/28		6,691
	1,500,000	g	Paraguay Government International Bond		5.000		04/15/26		1,508
	3,025,000		Peruvian Government International Bond		4.125		08/25/27		3,169
	1,250,000		Peruvian Government International Bond		6.550		03/14/37		1,556
	800,000		Peruvian Government International Bond		5.625		11/18/50		900
	2,500,000		Philippine Government International Bond		5.000		01/13/37		3,141
	3,200,000		Philippine Government International Bond		3.700		03/01/41		3,383
	6,267,000		Poland Government International Bond		5.125		04/21/21		7,003
	25,000,000	g	Province of Alberta Canada		1.000		06/21/17		25,047
	15,000,000		Province of British Columbia Canada		2.000		10/23/22		15,114
	20,750,000		Province of Manitoba Canada		1.750		05/30/19		21,011
	10,000,000		Province of Manitoba Canada		3.050		05/14/24		10,565
	20,000,000		Province of New Brunswick Canada		2.750		06/15/18		20,649
	24,000,000		Province of Ontario Canada		2.300		05/10/16		24,036
	2,250,000		Province of Quebec Canada		5.125		11/14/16		2,308
	8,835,000		Province of Quebec Canada		4.625		05/14/18		9,472
	22,500,000		Province of Quebec Canada		3.500		07/29/20		24,250
	6,000,000		Province of Quebec Canada		7.500		09/15/29		8,943
	2,300,000	g	Republic of Angola		9.500		11/12/25		2,093
	2,000,000	g	Republic of Latvia		2.750		01/12/20		2,038
	4,135,000	g	Republic of Paraguay		6.100		08/11/44		4,213
	1,150,000	g	Republic of Serbia		5.875		12/03/18		1,203
	1,235,857	i	Republic of Serbia		6.750		11/01/24		1,276
	4,500,000		Republic of Turkey		7.500		07/14/17		4,802
	50,000		Republic of Turkey		6.000		01/14/41		54
	1,500,000	g	Republic of Zambia		5.375		09/20/22		1,140
RUB	39,000,000		Russian Federal Bond-OFZ		7.000		08/16/23		521
$	3,250,000	g	Russian Foreign Bond - Eurobond		4.875		09/16/23		3,394
	1,800,000	g	Russian Foreign Bond - Eurobond		5.625		04/04/42		1,820
	3,985,000	g	Slovenia Government International Bond		5.500		10/26/22		4,507
	2,000,000	g	Slovenia Government International Bond		5.250		02/18/24		2,240
	1,300,000	g	Socialist Republic of Vietnam		6.750		01/29/20		1,441
ZAR	121,524,000		South Africa Government Bond		8.250		09/15/17		8,253
$	3,500,000		South Africa Government International Bond		5.500		03/09/20		3,706
	7,450,000		South Africa Government International Bond		5.875		09/16/25		8,060
	2,375,000		South Africa Government International Bond		5.375		07/24/44		2,347
	1,500,000	g	Sri Lanka Government International Bond		6.250		07/27/21		1,463
	3,100,000	g	Sri Lanka Government International Bond		6.850		11/03/25		2,955
	4,000,000		Svensk Exportkredit AB		1.125		04/05/18		4,000
	4,000,000		Svensk Exportkredit AB		1.750		03/10/21		4,016
	3,000,000		Turkey Government International Bond		5.625		03/30/21		3,237
	4,000,000		Turkey Government International Bond		3.250		03/23/23		3,770
	5,750,000		Turkey Government International Bond		5.750		03/22/24		6,236
	2,500,000		Turkey Government International Bond		4.875		10/09/26		2,531
	2,352,945		Uruguay Government International Bond		4.375		10/27/27		2,412
	3,750,000		Uruguay Government International Bond		5.100		06/18/50		3,488
	2,000,000	g	Vietnam Government International Bond		4.800		11/19/24		2,005
	2,000,000	g	Zambia Government International Bond		8.970		07/30/27		1,645
			TOTAL FOREIGN GOVERNMENT BONDS						602,058

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
MORTGAGE BACKED - 21.4%
$	43,757,350		Federal Home Loan Mortgage Corp (FHLMC)		3.500	%	09/15/41	$	45,836
	30,392,787		FHLMC		3.000		09/15/42		31,137
	5,517,229	i	FHLMC		0.786		10/15/42		5,534
	16,818,239	i	FHLMC		0.786		07/15/45		16,878
	28,175		Federal Home Loan Mortgage Corp Gold (FGLMC)		6.500		12/01/16		28
	73,920		FGLMC		7.000		10/01/20		78
	14,981		FGLMC		7.000		05/01/23		17
	201,110		FGLMC		6.000		10/01/23		228
	134,083		FGLMC		6.000		11/01/23		152
	36,682		FGLMC		8.000		01/01/31		43
	30,000,000	h	FGLMC		3.000		05/15/31		31,308
	77,630		FGLMC		7.000		12/01/31		80
	5,832		FGLMC		7.000		01/01/32		6
	53,055		FGLMC		8.000		02/01/32		55
	1,073,370		FGLMC		4.500		07/01/33		1,170
	1,394,391		FGLMC		5.500		12/01/33		1,566
	2,334,381		FGLMC		5.500		12/01/33		2,637
	6,860,051		FGLMC		7.000		12/01/33		8,355
	8,239,538		FGLMC		5.000		01/01/34		9,210
	2,806,705		FGLMC		4.500		10/01/34		3,049
	1,405,264		FGLMC		4.500		04/01/35		1,532
	2,401,028		FGLMC		7.000		05/01/35		2,915
	468,076		FGLMC		5.000		02/01/36		519
	10,070		FGLMC		6.500		05/01/36		11
	2,735,936		FGLMC		5.000		04/01/38		3,037
	2,283,775		FGLMC		5.000		07/01/39		2,513
	12,641,226		FGLMC		4.500		11/01/40		14,074
	14,125,659		FGLMC		4.500		12/01/40		15,684
	5,609,510		FGLMC		4.500		10/01/44		6,213
	3,117,628		FGLMC		4.500		11/01/44		3,452
	2,365,478		FGLMC		4.500		11/01/44		2,620
	1,830,725		FGLMC		4.500		12/01/44		2,028
	1,174,530		FGLMC		4.500		12/01/44		1,284
	11,665,249		FGLMC		3.500		04/01/45		12,289
	30,087,454		FGLMC		3.500		07/01/45		31,566
	87,806,583	h	FGLMC		3.500		10/01/45		92,505
	21,257,262		FGLMC		4.000		10/01/45		23,095
	103,598,877	h	FGLMC		4.000		12/01/45		111,885
	45,000,000	h	FGLMC		3.500		04/15/46		47,123
	38,277		Federal National Mortgage Association (FNMA)		8.000		03/01/23		40
	104,796		FNMA		8.000		07/01/24		125
	21,231		FNMA		9.000		11/01/25		24
	4,357,297		FNMA		3.000		01/01/30		4,559
	5,792,746		FNMA		3.000		06/01/30		6,062
	9,649,065		FNMA		3.000		07/01/30		10,098
	14,644,677		FNMA		3.000		12/01/30		15,328
	31,000,000	h	FNMA		2.500		04/25/31		31,826
	46,000,000	h	FNMA		3.000		04/25/31		48,055
	52,000,000	h	FNMA		2.500		05/25/31		53,288
	39,000,000	h	FNMA		3.000		05/25/31		40,681
	1,261,799		FNMA		6.500		07/01/32		1,488

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	162,534		FNMA		7.000	%	07/01/32	$	175
	96,712		FNMA		7.000		07/01/32		107
	284,766		FNMA		4.500		03/25/33		288
	9,706,938		FNMA		5.000		06/01/33		10,790
	1,137,290		FNMA		4.500		10/01/33		1,247
	21,579,297		FNMA		5.000		10/01/33		23,987
	133,183		FNMA		5.000		11/01/33		150
	2,476,964		FNMA		5.000		11/01/33		2,803
	1,129,291		FNMA		5.000		03/01/34		1,255
	8,903,738		FNMA		5.500		03/01/34		10,082
	45,284,789		FNMA		3.000		01/01/35		47,277
	8,160,690		FNMA		5.500		02/01/35		9,241
	2,007,480		FNMA		4.500		05/01/35		2,201
	13,176,177		FNMA		5.000		05/01/35		14,616
	5,913,191		FNMA		5.000		10/01/35		6,555
	10,901,843		FNMA		3.500		01/01/36		11,501
	2,994,387	h	FNMA		5.000		02/01/36		3,320
	50,760		FNMA		6.500		03/01/37		60
	2,995,101		FNMA		5.500		08/01/37		3,391
	1,366,556		FNMA		6.000		09/01/37		1,586
	1,358,144		FNMA		6.000		09/01/37		1,576
	1,085,964		FNMA		6.500		09/01/37		1,241
	1,717,225		FNMA		5.500		01/01/38		1,944
	68,325		FNMA		6.500		02/01/38		78
	5,039,217		FNMA		5.500		04/01/38		5,669
	9,088,947		FNMA		5.500		11/01/38		10,641
	6,376,399		FNMA		5.500		12/01/38		7,318
	173,551		FNMA		4.500		04/01/39		192
	735,347		FNMA		4.000		07/01/39		792
	4,994,437		FNMA		5.500		08/01/39		5,702
	3,327,717		FNMA		4.500		10/01/39		3,628
	349,264		FNMA		4.500		02/01/40		384
	3,657,648		FNMA		4.500		06/01/40		3,991
	1,847,561		FNMA		5.000		08/01/40		2,045
	11,116,929		FNMA		5.000		09/01/40		12,328
	777,490		FNMA		6.000		10/01/40		887
	739,042		FNMA		4.500		11/01/40		812
	4,391,747		FNMA		4.500		11/01/40		4,792
	28,241,959		FNMA		4.500		01/01/41		31,173
	1,389,811		FNMA		4.500		01/01/41		1,535
	1,039,359		FNMA		4.500		02/01/41		1,148
	15,756,446		FNMA		5.000		05/01/41		17,483
	1,195,217		FNMA		4.500		06/01/41		1,320
	1,299,955		FNMA		4.500		06/01/41		1,428
	905,678		FNMA		5.000		06/01/41		1,006
	5,527,929		FNMA		5.000		07/01/41		6,138
	1,191,724		FNMA		5.000		08/01/41		1,321
	470,788		FNMA		4.500		09/01/41		514
	6,072,426		FNMA		4.500		09/01/41		6,672
	5,567,392		FNMA		4.500		11/01/41		6,077
	1,607,399		FNMA		4.500		12/01/41		1,766
	28,920,697		FNMA		5.500		12/01/41		33,428
	1,316,161		FNMA		4.500		01/01/42		1,446

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,540,494	h	FNMA		4.500	%	01/01/42	$	2,815
	7,114,366		FNMA		3.500		02/01/42		7,502
	18,778,272		FNMA		4.500		02/01/42		20,473
	1,498,038		FNMA		4.500		03/01/42		1,655
	27,000,000		FNMA		3.000		03/25/42		27,924
	931,305		FNMA		4.500		04/01/42		1,016
	1,347,939		FNMA		4.500		04/01/42		1,481
	10,756,132		FNMA		4.500		04/01/42		11,736
	1,491,704		FNMA		4.500		06/01/42		1,639
	25,960,764		FNMA		4.500		06/01/42		28,317
	40,874,511		FNMA		3.500		07/01/42		43,104
	1,218,834		FNMA		4.500		07/01/42		1,346
	14,013,524	i	FNMA		0.933		08/25/42		14,112
	21,600,024		FNMA		3.000		10/01/42		22,215
	238,866		FNMA		3.000		10/01/42		246
	13,099,820	i	FNMA		0.833		11/25/42		13,067
	31,192,762		FNMA		3.500		11/25/42		5,677
	306,367		FNMA		3.000		12/01/42		315
	24,086,427		FNMA		3.000		01/01/43		24,772
	10,926,218		FNMA		3.000		01/01/43		11,227
	30,560,936		FNMA		3.000		02/01/43		31,430
	808,769		FNMA		3.000		02/01/43		832
	20,645,538		FNMA		3.000		02/25/43		21,590
	715,966		FNMA		3.000		03/01/43		735
	8,545,543	i	FNMA		0.783		03/25/43		8,550
	147,938		FNMA		3.000		04/01/43		152
	738,476		FNMA		3.000		04/01/43		759
	15,327		FNMA		3.000		04/01/43		16
	19,472,698		FNMA		3.000		08/25/43		20,407
	8,410,532		FNMA		3.500		09/01/43		8,835
	10,177,504		FNMA		4.000		04/01/44		10,954
	3,304,524		FNMA		4.000		06/01/44		3,558
	5,973,708		FNMA		4.000		06/01/44		6,434
	9,890,650		FNMA		4.500		06/01/44		10,974
	3,304,628		FNMA		4.000		07/01/44		3,558
	1,796,114		FNMA		4.000		07/01/44		1,934
	6,005,124		FNMA		4.000		08/01/44		6,517
	6,289,768		FNMA		4.000		08/01/44		6,826
	2,298,520		FNMA		4.000		08/01/44		2,495
	14,464,718		FNMA		4.000		08/01/44		15,573
	1,602,378		FNMA		4.000		09/01/44		1,739
	1,166,453		FNMA		4.000		09/01/44		1,266
	7,296,791		FNMA		4.000		10/01/44		7,919
	9,662,593		FNMA		4.500		10/01/44		10,721
	7,943,140		FNMA		3.500		11/01/44		8,375
	17,634,128		FNMA		4.500		11/01/44		19,563
	7,982,989		FNMA		4.000		12/01/44		8,555
	14,695,486		FNMA		4.000		12/01/44		15,946
	5,166,210		FNMA		4.500		12/01/44		5,733
	5,484,895		FNMA		4.000		01/01/45		5,954
	13,310,885		FNMA		3.500		02/01/45		14,035
	4,059,816		FNMA		3.500		03/01/45		4,281
	1,157,771		FNMA		3.500		03/01/45		1,222

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,975,033		FNMA		3.500	%	03/01/45	$	3,137
	695,424		FNMA		3.500		03/01/45		734
	2,467,812		FNMA		4.500		03/01/45		2,739
	3,051,847		FNMA		3.500		04/01/45		3,218
	2,077,481		FNMA		3.500		04/01/45		2,180
	1,288,091		FNMA		3.500		04/01/45		1,358
	5,634,701		FNMA		3.500		04/01/45		5,941
	13,735,824		FNMA		3.500		04/01/45		14,483
	766,699		FNMA		4.500		04/01/45		851
	21,233,678		FNMA		3.500		05/01/45		22,494
	2,703,446		FNMA		4.000		05/01/45		2,935
	1,111,067		FNMA		3.500		06/01/45		1,172
	5,996,758		FNMA		4.000		06/01/45		6,510
	8,800,693	h	FNMA		3.500		07/01/45		9,280
	18,285,816		FNMA		4.000		07/01/45		19,765
	1,685,419		FNMA		4.000		10/01/45		1,830
	10,610,535		FNMA		4.000		11/01/45		11,520
	3,407,854		FNMA		4.000		12/01/45		3,700
	45,754,186		FNMA		3.500		01/01/46		48,006
	94,566,932		FNMA		3.500		02/01/46		99,221
	7,829,792		FNMA		4.000		02/01/46		8,376
	6,116,355		FNMA		4.000		02/01/46		6,551
	70,302,220		FNMA		3.500		03/01/46		73,762
	56,000,000	h	FNMA		3.000		04/25/46		57,465
	57,000,000	h	FNMA		4.000		04/25/46		60,919
	27,000,000	h	FNMA		4.500		04/25/46		29,378
	25,000,000	h	FNMA		3.000		05/25/46		25,601
	8,000,000	h	FNMA		3.500		05/25/46		8,376
	175,000,000	h	FNMA		4.000		05/25/46		186,759
	67,000,000	h	FNMA		4.500		05/25/46		72,817
	8		Government National Mortgage Association (GNMA)		9.000		09/15/16		0	^
	474		GNMA		9.000		09/15/16		1
	1,811		GNMA		9.000		11/15/16		2
	1,248		GNMA		9.000		12/15/16		1
	462		GNMA		9.000		12/15/16		0	^
	2,093		GNMA		9.500		12/15/16		2
	8,996		GNMA		8.000		06/15/24		10
	27,539		GNMA		8.500		11/20/30		33
	38,362		GNMA		8.500		12/20/30		46
	769,195		GNMA		5.500		07/15/33		882
	15,778,744		GNMA		3.700		10/15/33		17,446
	463,978		GNMA		5.500		11/20/33		524
	1,631,065		GNMA		5.500		03/20/35		1,846
	803,645		GNMA		5.500		12/20/35		903
	453,158		GNMA		6.000		10/20/36		520
	477,493		GNMA		6.000		01/20/37		547
	1,396,699		GNMA		6.000		02/20/37		1,601
	1,045,639		GNMA		5.000		04/15/38		1,165
	1,001,764		GNMA		5.500		07/15/38		1,125
	1,556,875		GNMA		5.500		07/20/38		1,718
	533,715		GNMA		6.000		08/20/38		606
	951,576		GNMA		6.500		11/20/38		1,098
	826,483		GNMA		2.176		05/16/39		835

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,938,888		GNMA		5.000	%	06/15/39	$	2,185
	2,933,445		GNMA		5.000		06/15/39		3,306
	11,606,489		GNMA		4.500		09/20/39		12,963
	12,140,711		GNMA		3.700		08/15/40		13,316
	41,491,895		GNMA		3.500		10/20/42		7,530
	58,800,000		GNMA		4.000		03/20/46		63,071
	14,000,000	h	GNMA		3.000		04/20/46		14,510
	27,000,000	h	GNMA		3.500		04/20/46		28,544
	14,000,000	h	GNMA		4.000		04/20/46		14,970
	131,000,000	h	GNMA		3.000		05/20/46		135,450
	148,000,000	h	GNMA		3.500		05/20/46		156,140
	27,000,000	h	GNMA		4.000		05/20/46		28,824
	41,000,000	h	GNMA		3.000		06/20/46		42,303
			TOTAL MORTGAGE BACKED						2,923,571
MUNICIPAL BONDS - 2.1%
	2,025,000		City of San Antonio TX Customer Facility Charge Revenue		4.253		07/01/24		2,137
	1,575,000		City of San Antonio TX Customer Facility Charge Revenue		4.353		07/01/25		1,662
	3,500,000		Maine Municipal Bond Bank		1.708		06/01/16		3,505
	2,000,000		Permanent University Fund		1.439		07/01/17		2,011
	2,625,000		Permanent University Fund		1.730		07/01/18		2,660
	4,720,000		Permanent University Fund		1.880		07/01/19		4,780
	2,320,000		Permanent University Fund		2.258		07/01/20		2,369
	2,160,000		Permanent University Fund		2.408		07/01/21		2,231
	2,750,000		Permanent University Fund		2.508		07/01/22		2,845
	2,855,000		Permanent University Fund		2.608		07/01/23		2,975
	3,250,000		Permanent University Fund		2.708		07/01/24		3,384
	2,335,000		Permanent University Fund		2.808		07/01/25		2,426
	3,775,000		Permanent University Fund		2.908		07/01/26		3,929
	4,000,000		Permanent University Fund		3.008		07/01/27		4,124
	2,000,000		Port of Corpus Christi Authority of Nueces County		3.138		12/01/22		2,071
	1,700,000		Port of Corpus Christi Authority of Nueces County		3.287		12/01/23		1,774
	1,500,000		Port of Corpus Christi Authority of Nueces County		3.387		12/01/24		1,555
	1,000,000		Port of Corpus Christi Authority of Nueces County		3.487		12/01/25		1,030
	11,370,000		State of California		5.950		04/01/16		11,370
	3,060,000		State of Georgia		2.000		07/01/20		3,133
	3,215,000		State of Georgia		2.150		07/01/21		3,310
	3,905,000		State of Georgia		2.750		07/01/25		3,989
	4,100,000		State of Georgia		2.850		07/01/26		4,164
	4,305,000		State of Georgia		2.950		07/01/27		4,362
	4,520,000		State of Georgia		3.050		07/01/28		4,569
	3,245,000		State of Georgia		3.150		07/01/29		3,247
	12,500,000		State of Illinois		0.750		06/15/16		12,499
	19,760,000		State of Illinois		4.833		02/01/17		20,182
	8,000,000		State of Illinois		4.350		06/01/18		8,171
	7,500,000		State of Illinois		2.000		06/15/19		7,583
	7,160,000		State of Illinois		5.463		02/01/20		7,494
	12,500,000		State of Illinois		1.930		06/15/20		12,475
	12,500,000		State of Illinois		2.250		06/15/21		12,560
	10,000,000		State of Illinois		4.310		04/01/23		9,890
	11,535,000		State of Illinois		4.610		04/01/25		11,387
	9,350,000		State of Illinois		4.760		04/01/26		9,171
	12,500,000		State of Illinois		3.150		06/15/26		12,514

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	13,880,000	State of Illinois		4.910	%	04/01/27	$	13,454
	12,500,000	State of Illinois		3.250		06/15/27		12,400
	8,115,000	State of Illinois		5.010		04/01/28		7,738
	6,000,000	University of California		2.570		05/15/22		6,175
	17,045,000	University of California		3.931		05/15/45		17,222
	20,000,000	University of New Mexico		3.532		06/20/32		20,076
		TOTAL MUNICIPAL BONDS						286,603
U.S. TREASURY SECURITIES - 19.8%
	22,000,000	United States Treasury Bond		6.375		08/15/27		32,154
	15,185,000	United States Treasury Bond		5.250		11/15/28		20,778
	49,175,000	United States Treasury Bond		5.250		02/15/29		67,548
	100,686,000	United States Treasury Bond		5.375		02/15/31		144,425
	65,602,000	United States Treasury Bond		4.500		02/15/36		90,041
	4,500,000	United States Treasury Bond		4.750		02/15/37		6,370
	12,000,000	United States Treasury Bond		3.500		02/15/39		14,288
	11,900,000	United States Treasury Bond		3.875		08/15/40		14,923
	19,135,000	United States Treasury Bond		4.375		05/15/41		25,850
	16,434,000	United States Treasury Bond		3.750		08/15/41		20,269
	56,375,000	United States Treasury Bond		3.625		08/15/43		68,507
	35,680,000	United States Treasury Bond		3.000		05/15/45		38,488
	81,710,000	United States Treasury Bond		2.875		08/15/45		85,974
	27,915,100	United States Treasury Bond		3.000		11/15/45		30,147
	155,250,000	United States Treasury Bond		2.500		02/15/46		151,393
	44,410,000	United States Treasury Note		0.375		04/30/16		44,414
	6,000,000	United States Treasury Note		0.500		07/31/16		6,003
	10,000,000	United States Treasury Note		3.125		10/31/16		10,152
	7,750,000	United States Treasury Note		0.750		01/15/17		7,759
	3,900,000	United States Treasury Note		0.625		02/15/17		3,901
	25,000,000	United States Treasury Note		0.625		05/31/17		24,985
	25,000,000	United States Treasury Note		0.625		06/30/17		24,985
	99,210,000	United States Treasury Note		0.625		07/31/17		99,125
	22,875,000	United States Treasury Note		0.625		08/31/17		22,849
	20,000,000	United States Treasury Note		0.625		09/30/17		19,975
	3,000,000	United States Treasury Note		1.000		12/31/17		3,014
	79,830,000	United States Treasury Note		0.750		02/28/18		79,858
	63,000,000	United States Treasury Note		0.875		03/31/18		63,177
	209,865,000	United States Treasury Note		0.875		07/15/18		210,267
	12,100,000	United States Treasury Note		2.250		07/31/18		12,506
	28,000,000	United States Treasury Note		1.000		08/15/18		28,135
	9,966,900	United States Treasury Note		1.375		09/30/18		10,109
	10,365,000	United States Treasury Note		1.750		10/31/18		10,616
	47,275,000	United States Treasury Note		0.750		02/15/19		47,142
	98,000,000	United States Treasury Note		1.000		03/15/19		98,402
	135,487,000	United States Treasury Note		1.625		07/31/20		138,207
	3,000,000	United States Treasury Note		1.750		12/31/20		3,075
	750,000	United States Treasury Note		1.375		01/31/21		756
	825,000	United States Treasury Note		2.125		01/31/21		861
	68,694,300	United States Treasury Note		1.125		02/28/21		68,445
	12,720,000	United States Treasury Note		2.000		02/28/21		13,187
	15,000,000	United States Treasury Note		1.250		03/31/21		15,018
	3,240,000	United States Treasury Note		2.250		04/30/21		3,399
	16,465,000	United States Treasury Note		2.000		05/31/21		17,067

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,730,000		United States Treasury Note		2.125	%	06/30/21	$	1,804
	11,825,000		United States Treasury Note		2.000		08/31/21		12,241
	133,872,000		United States Treasury Note		8.000		11/15/21		182,228
	73,000,000		United States Treasury Note		1.750		02/28/22		74,372
	1,710,000		United States Treasury Note		1.750		03/31/22		1,741
	8,000,000		United States Treasury Note		1.750		04/30/22		8,142
	4,565,000		United States Treasury Note		2.125		06/30/22		4,744
	23,000,000		United States Treasury Note		2.000		07/31/22		23,725
	106,110,000		United States Treasury Note		1.875		08/31/22		108,610
	130,965,000		United States Treasury Note		1.750		09/30/22		133,006
	10,500,000		United States Treasury Note		1.750		01/31/23		10,648
	256,129,000		United States Treasury Note		1.625		02/15/26		252,537
			TOTAL U.S. TREASURY SECURITIES						2,712,342
			TOTAL GOVERNMENT BONDS						6,762,643
			(Cost $6,601,393)
STRUCTURED ASSETS - 12.9%
ASSET BACKED - 5.2%
	811,096	i	ACE Securities Corp Home Equity Loan Trust		1.168		08/25/35		800
			Series - 2005 HE5 (Class M2)
	17,823,000		AmeriCredit Automobile Receivables Trust		1.570		01/08/19		17,826
			Series - 2013 1 (Class C)
	6,045,000		AmeriCredit Automobile Receivables Trust		1.790		03/08/19		6,057
			Series - 2013 2 (Class C)
	18,920,000		AmeriCredit Automobile Receivables Trust		2.420		05/08/19		18,933
			Series - 2013 2 (Class D)
	6,675,000		AmeriCredit Automobile Receivables Trust		2.720		09/09/19		6,746
			Series - 2013 4 (Class C)
	15,037,000	g	AmeriCredit Automobile Receivables Trust		4.460		11/08/19		15,255
			Series - 2012 3 (Class E)
	12,805,000		AmeriCredit Automobile Receivables Trust		3.340		08/08/21		12,855
			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		4,792
			Series - 2004 R12 (Class M1)
	2,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.410		11/20/17		2,015
			Series - 2011 3A (Class A)
	5,500,000	g	Avis Budget Rental Car Funding AESOP LLC		4.740		11/20/17		5,549
			Series - 2011 3A (Class B)
	9,400,000	g	Avis Budget Rental Car Funding AESOP LLC		3.780		02/20/18		9,371
			Series - 2011 5A (Class C)
	11,125,000	g	Avis Budget Rental Car Funding AESOP LLC		4.720		02/20/18		11,275
			Series - 2011 5A (Class B)
	4,890,000	g	Avis Budget Rental Car Funding AESOP LLC		3.887		05/20/18		4,957
			Series - 2012 2A (Class B)
	2,900,000		Capital Auto Receivables Asset Trust		1.290		04/20/18		2,897
			Series - 2013 1 (Class B)
	14,831,000		Capital Auto Receivables Asset Trust		1.740		10/22/18		14,835
			Series - 2013 1 (Class C)

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	11,525,000		Capital Auto Receivables Asset Trust		2.190	%	09/20/21	$	11,468
			Series - 0 1 (Class D)
	8,000,000	g	Capital Automotive REIT		3.660		10/15/44		8,275
			Series - 2014 1A (Class A)
	6,285,053	i,m	CCR, Inc		0.887		07/10/17		6,229
			Series - 2010 CX (Class C)
	922,725	i	Chase Funding Mortgage Loan Asset-Backed Certificates		5.700		02/26/35		807
			Series - 2004 2 (Class 1M2)
	1,070,855	i	CIT Group Home Equity Loan Trust (Step Bond)		6.200		02/25/30		1,068
			Series - 2002 1 (Class AF6)
	6,059,164	i	Connecticut Avenue Securities		1.933		02/25/25		6,065
			Series - 2015 C01 (Class 1M1)
	7,920,000	g	DB Master Finance LLC		3.262		02/20/45		7,798
			Series - 2015 1A (Class A2I)
	6,930,000	g	DB Master Finance LLC		3.980		02/20/45		6,778
			Series - 2015 1A (Class A2II)
	5,525,000	g,i	DB/UBS Mortgage Trust		5.699		11/10/46		6,045
			Series - 2011 LC1A (Class C)
	2,054,459	g	Diamond Resorts Owner Trust		1.950		01/20/25		2,027
			Series - 2013 1 (Class A)
	69,540,858	g	Domino’s Pizza Master Issuer LLC		5.216		01/25/42		71,165
			Series - 2012 1A (Class A2)
	16,957,500	g	Domino’s Pizza Master Issuer LLC		3.484		10/25/45		16,313
			Series - 2015 1A (Class A2I)
	2,493,750	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		2,413
			Series - 2015 1A (Class A2II)
	5,250,000		Ford Credit Auto Owner Trust		1.150		07/15/18		5,249
			Series - 2013 A (Class B)
	1,595,000		Ford Credit Auto Owner Trust		2.430		01/15/19		1,604
			Series - 2012 C (Class D)
	12,500,000	g	Hertz Vehicle Financing LLC		1.860		08/25/17		12,478
			Series - 2013 1A (Class B1)
	5,000,000	g	Hertz Vehicle Financing LLC		2.320		03/25/20		5,000
			Series - 2016 1A (Class A)
	1,911,423	i	Irwin Home Equity Corp		1.193		02/25/34		1,842
			Series - 2005 A (Class A3)
	13,971,962	g	JG Wentworth XXII LLC		3.820		12/15/48		14,490
			Series - 2010 3A (Class A)
	2,670,451	i	Lehman XS Trust		0.683		02/25/36		2,515
			Series - 2006 1 (Class 1A1)
	11,123,814	i	Lehman XS Trust		6.500		06/25/46		8,264
			Series - 2006 13 (Class 2A1)
	1,278,338		Louisiana Public Facilities Authority		5.750		02/01/19		1,302
			Series - 2008 ELL (Class A2)
	450,378	i	Park Place Securities, Inc Asset-Backed Pass-Through Certificates		1.378		09/25/34		451
			Series - 2004 WHQ1 (Class M1)
	17,822	i	Renaissance Home Equity Loan Trust		1.316		08/25/33		16
			Series - 2003 2 (Class A)
	88,119	i	Residential Asset Securities Corp		6.489		10/25/30		89
			Series - 2001 KS2 (Class AI6)
	1,243,457	i	Residential Funding Mortgage Securities II, Inc (Step Bond)		5.950		08/25/34		1,292
			Series - 2005 HI1 (Class A5)

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	408,195	i	Residential Funding Mortgage Securities II, Inc (Step Bond)		6.010	%	02/25/36	$	409
			Series - 2006 HI1 (Class M1)
	350,000	i	Residential Funding Mortgage Securities II, Inc (Step Bond)		6.060		02/25/36		363
			Series - 2006 HI1 (Class M2)
	1,638,754		Santander Drive Auto Receivables Trust		0.720		04/16/18		1,638
			Series - 2014 5 (Class A2A)
	12,770,000		Santander Drive Auto Receivables Trust		3.500		06/15/18		12,901
			Series - 2012 4 (Class D)
	7,414,388		Santander Drive Auto Receivables Trust		1.760		01/15/19		7,427
			Series - 2013 1 (Class C)
	5,830,000		Santander Drive Auto Receivables Trust		2.270		01/15/19		5,825
			Series - 2013 2013-1 (Class D)
	52,250,000		Santander Drive Auto Receivables Trust		1.620		02/15/19		52,267
			Series - 2014 2 (Class B)
	4,410,000		Santander Drive Auto Receivables Trust		2.570		03/15/19		4,439
			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		4,625
			Series - 2013 3 (Class D)
	79,872,000		Santander Drive Auto Receivables Trust		2.250		06/17/19		80,079
			Series - 2013 5 (Class C)
	5,000,000		Santander Drive Auto Receivables Trust		1.410		07/15/19		4,998
			Series - 2016 1 (Class A2A)
	20,615,000	g	Santander Drive Auto Receivables Trust		3.120		10/15/19		20,877
			Series - 2013 A (Class C)
	5,325,000		Santander Drive Auto Receivables Trust		2.910		04/15/20		5,327
			Series - 2014 1 (Class D)
	600,000		Santander Drive Auto Receivables Trust		1.960		05/15/20		599
			Series - 2015 5 (Class B)
	14,172,000		Santander Drive Auto Receivables Trust		2.130		08/17/20		14,179
			Series - 2014 3 (Class C)
	600,000		Santander Drive Auto Receivables Trust		2.740		12/15/21		600
			Series - 2015 5 (Class C)
	703,280	i	Securitized Asset Backed Receivables LLC		0.733		10/25/35		700
			Series - 2006 OP1 (Class A2C)
	259,356	g	Sierra Receivables Funding Co LLC		1.590		11/20/29		255
			Series - 2013 1A (Class A)
	6,403,519	g	Sierra Receivables Funding Co LLC		2.700		10/20/30		6,367
			Series - 2013 3A (Class B)
	6,835,062	g	Sierra Receivables Funding Co LLC		2.050		06/20/31		6,803
			Series - 2014 2A (Class A)
	2,814,437	g	Sierra Receivables Funding Co LLC		2.400		06/20/31		2,790
			Series - 2014 2A (Class B)
	8,305,534	g	Sierra Receivables Funding Co LLC		2.400		03/22/32		8,212
			Series - 2015 1A (Class A)
	2,378,506	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		2,377
			Series - 2015 3A (Class A)
	1,189,253	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		1,187
			Series - 2015 3A (Class B)
	13,303,000	g	SLM Student Loan Trust		3.740		02/15/29		13,552
			Series - 2011 B (Class A2)

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,422,877	g	SolarCity LMC		4.590	%	04/20/44	$	4,352
			Series - 2014 1 (Class A)
	23,364	i	Soundview Home Equity Loan Trust		0.733		11/25/35		23
			Series - 2005 OPT3 (Class A4)
	78,580,659	g	SpringCastle America Funding LLC		2.700		05/25/23		78,257
			Series - 2014 AA (Class A)
	3,092,739	g,i	Structured Asset Securities Corp Mortgage Loan Trust		0.653		10/25/36		3,071
			Series - 2006 GEL4 (Class A2)
	1,890,000	g	Vornado DP LLC		5.280		09/13/28		2,062
			Series - 2010 VNO (Class C)
	632,018	g,m	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		645
			Series - 2006 N1 (Class N1)
	989,227	g,i	Wachovia Loan Trust		0.793		05/25/35		962
			Series - 2005 SD1 (Class A)
	47,974	i	Wells Fargo Home Equity Trust		0.573		07/25/36		48
			Series - 2006 2 (Class A3)
	34,825,000	g	Wendys Funding LLC		3.371		06/15/45		34,186
			Series - 2015 1A (Class A2I)
			TOTAL ASSET BACKED						718,851
OTHER MORTGAGE BACKED - 7.7%
	2,547,000	g,i	ACRE Commercial Mortgage Trust		2.941		08/15/31		2,594
			Series - 2014 FL2 (Class C)
	6,000,000	g,i	ACRE Commercial Mortgage Trust		3.841		08/15/31		5,841
			Series - 2014 FL2 (Class D)
	2,000,000	i	Banc of America Commercial Mortgage Trust		5.772		05/10/45		1,917
			Series - 2006 2 (Class B)
	1,059,000		Banc of America Commercial Mortgage Trust		5.390		10/10/45		1,072
			Series - 2006 6 (Class AM)
	2,500,000		Banc of America Commercial Mortgage Trust		5.480		10/10/45		2,450
			Series - 2006 6 (Class B)
	10,500,000	g	Banc of America Commercial Mortgage Trust		5.416		01/15/49		10,607
			Series - 2007 1 (Class AM)
	14,549,000	i	Banc of America Commercial Mortgage Trust		5.482		01/15/49		14,707
			Series - 2007 1 (Class AMFX)
	3,500,000	g,i	Banc of America Commercial Mortgage Trust		5.821		02/10/51		3,011
			Series - 2007 4 (Class E)
	2,000,000	g,i	Banc of America Commercial Mortgage Trust		6.000		02/10/51		1,742
			Series - 2007 4 (Class D)
	18,825,000	i	Bear Stearns Commercial Mortgage Securities		5.915		09/11/42		19,726
			Series - 2007 T28 (Class AJ)
	4,500,000	i	Bear Stearns Commercial Mortgage Securities		5.878		06/11/50		4,376
			Series - 2007 PW17 (Class AJ)
	8,000,000	g	CGBAM Commercial Mortgage Trust		3.516		04/10/28		8,029
			Series - 2015 SMRT (Class C)
	9,000,000	g	CGBAM Commercial Mortgage Trust		3.768		04/10/28		8,711
			Series - 2015 SMRT (Class D)
	9,483,473	i	CHL Mortgage Pass-Through Trust		2.757		02/20/35		9,415
			Series - 2004 HYB9 (Class 1A1)
	1,500,000	i	Citigroup Commercial Mortgage Trust		5.975		03/15/49		1,493
			Series - 2006 C4 (Class AJ)
	15,000,000	g,i	Citigroup Commercial Mortgage Trust		5.705		12/10/49		15,153
			Series - 2007 C6 (Class AMFX)

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	557,654	i	Citigroup Commercial Mortgage Trust		5.713	%	12/10/49	$	563
			Series - 2007 C6 (Class ASB)
	7,095,000	i	Citigroup Commercial Mortgage Trust		5.899		12/10/49		7,167
			Series - 2007 C6 (Class AM)
	16,626,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		16,129
			Series - 2007 C3 (Class AJ)
	32,585,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		33,508
			Series - 2007 C3 (Class AM)
	5,640,000	i	COBALT CMBS Commercial Mortgage Trust		5.526		04/15/47		5,809
			Series - 2007 C2 (Class AMFX)
	5,000,000	g,i	COMM 2007-C9 Mortgage Trust		1.132		12/10/49		4,666
			Series - 2007 C9 (Class AJFL)
	3,500,000	i	COMM 2007-C9 Mortgage Trust		5.813		12/10/49		3,470
			Series - 2007 C9 (Class F)
	840,100		COMM Mortgage Trust		1.399		02/10/48		836
			Series - 2015 LC19 (Class A1)
	2,180,000	i	COMM Mortgage Trust		5.650		12/10/49		2,182
			Series - 2007 C9 (Class AJ)
	1,000,000	i	COMM Mortgage Trust		5.813		12/10/49		1,004
			Series - 2007 C9 (Class C)
	682,717	i	Commercial Mortgage Trust		5.238		04/10/37		682
			Series - 2005 GG5 (Class AJ)
	16,156,810	i	Commercial Mortgage Trust		5.796		12/10/49		16,309
			Series - 2007 C9 (Class B)
	28,000,000	i	Commercial Mortgage Trust		5.867		12/10/49		28,790
			Series - 2007 GG11 (Class AM)
	13,000,000	i	Connecticut Avenue Securities		2.585		09/25/28		13,014
			Series - 2016 C02 (Class 1M1)
	557,920		Countrywide Alternative Loan Trust		5.500		08/25/16		559
			Series - 2004 30CB (Class 1A15)
	12,133,000	i	Credit Suisse Commercial Mortgage Trust		5.903		09/15/39		11,563
			Series - 2007 C4 (Class A1AJ)
	15,500,000	i	Credit Suisse Commercial Mortgage Trust		5.949		09/15/39		14,834
			Series - 2007 C4 (Class AJ)
	11,120,000		Credit Suisse Commercial Mortgage Trust		5.343		12/15/39		11,254
			Series - 2006 C5 (Class AM)
	11,235,000	g	Credit Suisse Commercial Mortgage Trust		5.383		02/15/40		11,357
			Series - 2009 RR1 (Class A3C)
	7,500,000	i	Credit Suisse Commercial Mortgage Trust		0.671		01/15/49		7,159
			Series - 2007 C2 (Class AMFL)
	5,052,000	i	Credit Suisse Commercial Mortgage Trust		5.615		01/15/49		5,170
			Series - 2007 C2 (Class AM)
	22,500,000	i	Credit Suisse Commercial Mortgage Trust		5.625		01/15/49		21,873
			Series - 2007 C2 (Class AJ)
	11,500,000	g	Credit Suisse Mortgage Capital Certificates		5.626		05/15/23		12,415
			Series - 2006 OMA (Class D)
	5,250,000		Credit Suisse Mortgage Capital Certificates		5.509		09/15/39		5,295
			Series - 2006 C4 (Class AM)
	5,000,000	g	Four Times Square Trust Commercial Mortgage Pass-Through Certificates		5.401		12/13/28		5,601
			Series - 2006 4TS (Class A)
	19,679,135	i	GE Commercial Mortgage Corp		5.606		12/10/49		19,451
			Series - 2007 C1 (Class AM)

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,665,000	i	GMAC Commercial Mortgage Securities, Inc		4.984	%	12/10/41	$	3,752
			Series - 2004 C3 (Class C)
	10,000,000	i	Greenwich Capital Commercial Funding Corp		6.013		07/10/38		10,021
			Series - 2006 GG7 (Class AM)
	5,910,000	g,i	GS Mortgage Securities Corp II		5.185		12/10/43		6,548
			Series - 2010 C2 (Class B)
	1,430,898	i	Impac CMB Trust		1.093		03/25/35		1,309
			Series - 2004 11 (Class 2A1)
	7,965,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.911		07/15/42		7,955
			Series - 2005 LDP2 (Class C)
	13,470,452	i	JP Morgan Chase Commercial Mortgage Securities Trust		5.565		04/15/43		13,454
			Series - 2006 LDP6 (Class AJ)
	4,000,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		5.520		05/15/45		3,985
			Series - 2006 LDP8 (Class B)
	8,145,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.360		02/15/46		8,573
			Series - 2011 C3 (Class C)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.321		07/15/46		6,787
			Series - 2011 C4 (Class C)
	24,734,564		JP Morgan Chase Commercial Mortgage Securities Trust		5.257		05/15/47		24,982
			Series - 2006 LDP9 (Class A1A)
	3,695,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		6.192		02/15/51		3,854
			Series - 2007 LD12 (Class AM)
	119,141,014	i	JPMBB Commercial Mortgage Securities Trust		1.528		11/15/48		9,566
			Series - 2015 C32 (Class XA)
	3,500,000	i	LB-UBS Commercial Mortgage Trust		5.852		06/15/38		3,492
			Series - 2006 C4 (Class AJ)
	6,000,000		LB-UBS Commercial Mortgage Trust		5.484		02/15/40		5,988
			Series - 2007 C1 (Class AJ)
	1,400,000	i	LB-UBS Commercial Mortgage Trust		5.533		02/15/40		1,393
			Series - 2007 C1 (Class C)
	4,150,000	i	LB-UBS Commercial Mortgage Trust		5.563		02/15/40		4,069
			Series - 2007 C1 (Class D)
	750,000	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		777
			Series - 2007 C6 (Class AM)
	7,225,000	g	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		7,470
			Series - 2007 C6 (Class AMFL)
	17,223,435	g,i	LVII Resecuritization Trust		3.239		07/31/47		17,213
			Series - 2015 A (Class A)
	2,210,442	g,i	Merrill Lynch Mortgage Trust		6.267		02/12/51		2,325
			Series - 0 C1 (Class AJAF)
	2,205,000	i	Merrill Lynch Mortgage Trust		6.267		02/12/51		2,319
			Series - 0 C1 (Class AJA)
	5,880,000	g,i	Merrill Lynch Mortgage Trust		6.267		02/12/51		6,116
			Series - 2008 C1 (Class C)
	9,300,000	g,i	ML-CFC Commercial Mortgage Trust		0.618		08/12/48		8,824
			Series - 2007 5 (Class AMFL)
	5,000,000		ML-CFC Commercial Mortgage Trust		5.239		12/12/49		4,863
			Series - 2006 4 (Class AJ)
	26,695,000	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		26,869
			Series - 2007 6 (Class AM)
	2,265,000	g,i	Morgan Stanley Capital I Trust		5.891		08/12/41		2,288
			Series - 2006 T23 (Class B)

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	13,572,629	i	Morgan Stanley Capital I Trust		5.389	%	11/12/41	$	13,386
			Series - 2006 HQ10 (Class AJ)
	199,533	i	Morgan Stanley Capital I Trust		4.840		12/13/41		200
			Series - 2005 T17 (Class AJ)
	12,300,000	i	Morgan Stanley Capital I Trust		5.793		07/12/44		12,350
			Series - 2006 HQ9 (Class AJ)
	500,000	i	Morgan Stanley Capital I Trust		5.832		07/12/44		501
			Series - 2006 HQ9 (Class B)
	7,526,769		Morgan Stanley Capital I Trust		5.569		12/15/44		7,818
			Series - 2007 HQ13 (Class A3)
	3,550,000	g,i	Morgan Stanley Capital I Trust		5.440		09/15/47		3,698
			Series - 2011 C1 (Class D)
	8,650,000	i	Morgan Stanley Capital I Trust		5.678		04/12/49		8,689
			Series - 2007 HQ12 (Class B)
	10,300,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		9,552
			Series - 2007 IQ15 (Class AJ)
	11,000,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		11,416
			Series - 2007 IQ15 (Class AM)
	12,121,000	g,i	Morgan Stanley Capital I Trust		6.104		06/11/49		9,903
			Series - 2007 IQ15 (Class B)
	8,750,000	i	Morgan Stanley Capital I Trust		6.080		12/12/49		9,096
			Series - 2007 IQ16 (Class AMA)
	12,000,000	i	Morgan Stanley Capital I Trust		6.096		12/12/49		10,986
			Series - 2007 IQ16 (Class AJFX)
	2,330,000	i	Morgan Stanley Capital I Trust		6.115		12/12/49		2,134
			Series - 2007 IQ16 (Class AJ)
	7,205,000	i	Morgan Stanley Capital I Trust		6.281		12/12/49		7,529
			Series - 2007 IQ16 (Class AM)
	22,229,000	i	Morgan Stanley Capital I Trust		6.319		12/12/49		20,365
			Series - 2007 IQ16 (Class AJA)
	1,212,434		Morgan Stanley Capital I Trust		4.770		07/15/56		1,212
			Series - 0 IQ9 (Class AJ)
	4,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.633		09/25/24		3,950
			Series - 2014 HQ2 (Class M2)
	1,801,614	i	Structured Agency Credit Risk Debt Note (STACR)		1.683		01/25/25		1,801
			Series - 2015 DN1 (Class M1)
	6,500,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.833		01/25/25		6,583
			Series - 2015 DN1 (Class M2)
	3,207,027	i	Structured Agency Credit Risk Debt Note (STACR)		1.483		03/25/25		3,207
			Series - 2015 HQ1 (Class M1)
	1,875,354	i	Structured Agency Credit Risk Debt Note (STACR)		1.533		05/25/25		1,875
			Series - 2015 HQ2 (Class M1)
	16,250,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.383		05/25/25		15,816
			Series - 2015 HQ2 (Class M2)
	24,654,302	i	Structured Agency Credit Risk Debt Note (STACR)		1.883		07/25/28		24,635
			Series - 2016 DNA1 (Class M1)
	12,500,000	g,i	Wachovia Bank Commercial Mortgage Trust		0.641		12/15/43		11,837
			Series - 2007 C30 (Class AMFL)
	35,625,000		Wachovia Bank Commercial Mortgage Trust		5.383		12/15/43		36,267
			Series - 2007 C30 (Class AM)
	5,500,000	i	Wachovia Bank Commercial Mortgage Trust		5.825		07/15/45		5,381
			Series - 2006 C27 (Class AJ)

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.865	%	07/15/45	$	2,811
			Series - 2006 C27 (Class B)
	32,910,000	i	Wachovia Bank Commercial Mortgage Trust		5.818		05/15/46		34,286
			Series - 2007 C34 (Class AM)
	7,338,000	i	Wachovia Bank Commercial Mortgage Trust		5.945		05/15/46		7,288
			Series - 2007 C34 (Class AJ)
	7,175,000	i	Wachovia Bank Commercial Mortgage Trust		5.591		04/15/47		7,356
			Series - 2007 C31 (Class AM)
	8,657,290	i	Wachovia Bank Commercial Mortgage Trust		5.660		04/15/47		8,570
			Series - 2007 C31 (Class AJ)
	2,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.700		04/15/47		1,958
			Series - 2007 C31 (Class B)
	88,795,000	g	Wachovia Bank Commercial Mortgage Trust		5.703		06/15/49		90,784
			Series - 2007 C32 (Class AMFX)
	2,794,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		2,651
			Series - 2007 C32 (Class B)
	49,550,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		47,324
			Series - 2007 C32 (Class AJ)
	33,600,000	i	Wachovia Bank Commercial Mortgage Trust		5.953		02/15/51		34,741
			Series - 2007 C33 (Class AM)
	5,932,316	i	WaMu Mortgage Pass-Through Certificates		0.783		12/25/45		5,098
			Series - 2005 AR19 (Class A1B3)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust		5.276		11/15/43		5,202
			Series - 2010 C1 (Class B)
			TOTAL OTHER MORTGAGE BACKED						1,054,552
			TOTAL STRUCTURED ASSETS						1,773,403
			(Cost $1,798,398)
			TOTAL BONDS						13,381,792
			(Cost $13,135,150)
SHARES			COMPANY
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	470,597	*	Federal Home Loan Mortgage Corp						1,459
	1,527,061	*	Federal National Mortgage Association						4,642
			TOTAL BANKS						6,101
			TOTAL PREFERRED STOCKS						6,101
			(Cost $49,942)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 8.9%
GOVERNMENT AGENCY DEBT - 3.8%
$	24,510,000		Federal Home Loan Bank (FHLB)		0.400		04/04/16		24,509
	100,000,000		FHLB		0.310		04/05/16		99,998
	79,250,000		FHLB		0.280-0.360		04/20/16		79,241
	30,000,000		FHLB		0.340		04/22/16		29,996
	43,010,000		FHLB		0.375		04/25/16		43,004

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,555,000		FHLB		0.210	%	04/29/16	$	1,555
	50,000,000		FHLB		0.366		05/13/16		49,985
	50,000,000		FHLB		0.385		05/18/16		49,983
	68,600,000		FHLB		0.390-0.392		05/27/16		68,572
	42,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.451		04/11/16		41,998
	12,900,000	w	Federal National Mortgage Association (FNMA)		0.230		04/19/16		12,899
	17,000,000		FNMA		0.612		06/08/16		16,990
			TOTAL GOVERNMENT AGENCY DEBT						518,730
TREASURY DEBT - 5.1%
	73,800,000		United States Treasury Bill		0.236		04/07/16		73,799
	61,100,000		United States Treasury Bill		0.233-0.283		04/21/16		61,096
	11,000,000		United States Treasury Bill		0.217		04/28/16		10,999
	143,800,000	w	United States Treasury Bill		0.200-0.225		05/26/16		143,762
	50,000,000		United States Treasury Bill		0.377		06/02/16		49,987
	100,000,000	w	United States Treasury Bill		0.241-0.251		06/23/16		99,950
	150,000,000		United States Treasury Bill		0.337-0.447		07/21/16		149,875
	109,300,000		United States Treasury Bill		0.333-0.377		08/18/16		109,158
			TOTAL TREASURY DEBT						698,626
			TOTAL SHORT-TERM INVESTMENTS						1,217,356
			(Cost $1,217,198)
			TOTAL INVESTMENTS - 107.4%						14,698,540
			(Cost $14,496,337)
			OTHER ASSETS & LIABILITIES, NET - (7.4)%						(1,015,805	)
			NET ASSETS - 100.0%					$	13,682,735

	Abbreviation(s):
	BRL	Brazilian Real
	DOP	Dominican Peso
	MXN	Mexican Peso
	REIT	Real Estate Investment Trust
	RUB	Russian Ruble
	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 3/31/16, the aggregate value of these securities was $1,677,957,000, or 12.3% 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.

343

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND

INFLATION-LINKED BOND ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2016

PRINCIPAL			ISSUER	VALUE (000)
GOVERNMENT BONDS - 99.3%
AGENCY SECURITIES - 0.2%
			Private Export Funding Corp (PEFCO)
$	3,500,000		2.300%, 09/15/20	$	3,632
	3,000,000		3.250%, 06/15/25		3,209
			Ukraine Government AID Bonds
	3,500,000		1.847%, 05/29/20		3,561
			TOTAL AGENCY SECURITIES		10,402
MORTGAGE BACKED - 0.2%
			Government National Mortgage Association (GNMA)
	14,096,045		3.650%, 02/15/32		15,476
			TOTAL MORTGAGE BACKED		15,476
U.S. TREASURY SECURITIES - 98.9%
		k	United States Treasury Inflation Indexed Bonds
	97,513,640		2.375%, 01/15/17		100,495
	412,957,481		0.125%, 04/15/17		417,689
	139,109,185		2.625%, 07/15/17		146,496
	147,063,141		1.625%, 01/15/18		153,788
	402,872,285		0.125%, 04/15/18		410,038
	148,971,516		1.375%, 07/15/18		157,198
	146,203,150		2.125%, 01/15/19		157,846
	235,569,990		0.125%, 04/15/19		240,668
	136,470,960		1.875%, 07/15/19		148,375
	223,816,779		1.375%, 01/15/20		239,641
	433,989,270		0.125%, 04/15/20		443,155
	289,637,503		1.250%, 07/15/20		311,390
	360,564,032		1.125%, 01/15/21		385,404
	342,451,638		0.625%, 07/15/21		359,530
	341,200,006		0.125%, 01/15/22		346,345
	398,679,660		0.125%, 07/15/22		405,724
	269,930,050		0.125%, 01/15/23		272,236
	77,366,480		0.375%, 07/15/23		79,716
	77,417,388		0.625%, 01/15/24		80,626
	79,817,600		0.125%, 07/15/24		80,114
	58,012,180		0.250%, 01/15/25		58,520
	245,402,768		2.375%, 01/15/25		292,301
	69,929,300		0.375%, 07/15/25		71,471
	94,717,900		0.625%, 01/15/26		99,054
	212,848,720		2.000%, 01/15/26		249,269
	159,999,588		2.375%, 01/15/27		195,472
	189,299,268		1.750%, 01/15/28		219,533
	117,214,218		3.625%, 04/15/28		161,434
	179,747,118		2.500%, 01/15/29		225,810
	151,442,257		3.875%, 04/15/29		216,836
	29,042,419		3.375%, 04/15/32		42,050

344

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

PRINCIPAL		ISSUER	VALUE (000)
$	5,242,150	0.750%, 02/15/42	$	5,089
	14,425,140	0.625%, 02/15/43		13,546
		TOTAL U.S. TREASURY SECURITIES		6,786,859
		TOTAL GOVERNMENT BONDS
		(Cost $6,398,284)		6,812,737
SHORT-TERM INVESTMENTS - 1.1%
GOVERNMENT AGENCY DEBT - 0.6%
		Federal Home Loan Bank (FHLB)
	9,100,000	0.180%, 04/25/16		9,099
	30,350,000	0.205%, 04/27/16		30,345
				39,444
TREASURY DEBT - 0.5%
		United States Treasury Bill
	13,550,000	0.281%, 04/07/16		13,550
	25,000,000	0.268%, 04/14/16		24,999
				38,549
		TOTAL SHORT-TERM INVESTMENTS		77,993
		(Cost $77,991)
		TOTAL INVESTMENTS - 100.4%		6,890,730
		(Cost $6,476,275)
		OTHER ASSETS AND LIABILITIES, NET - (0.4)%		(28,193	)
		NET ASSETS - 100.0%	$	6,862,537

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

345

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND

SOCIAL CHOICE ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2016

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.4%
CAPITAL GOODS - 0.0%
$	3,075,000	i	Manitowoc Foodservice, Inc		5.750	%	03/03/23	$	3,085
			TOTAL CAPITAL GOODS						3,085
ENERGY - 0.2%
	781,801	i	Granite Acquisition, Inc		5.000		12/19/21		739
	17,546,097	i	Granite Acquisition, Inc		5.000		12/19/21		16,581
			TOTAL ENERGY						17,320
MEDIA - 0.0%
	3,175,000	i	CCO Safari III LLC		3.500		01/24/23		3,176
			TOTAL MEDIA						3,176
RETAILING - 0.0%
	2,575,000	i	KAR Auction Services, Inc		4.250		03/09/23		2,580
			TOTAL RETAILING						2,580
UTILITIES - 0.2%
	9,891,676	i	ExGen Renewables I LLC		5.250		02/06/21		9,867
	15,258,569	i	Terra-Gen Finance Co LLC		5.250		12/09/21		12,207
			TOTAL UTILITIES						22,074
			TOTAL BANK LOAN OBLIGATIONS						48,235
			(Cost $51,950)
BONDS - 37.7%
CORPORATE BONDS - 11.1%
AUTOMOBILES & COMPONENTS - 0.1%
	7,550,000		Delphi Automotive plc		3.150		11/19/20		7,712
	3,250,000		Johnson Controls, Inc		5.000		03/30/20		3,543
	4,675,000		Magna International, Inc		3.625		06/15/24		4,689
			TOTAL AUTOMOBILES & COMPONENTS						15,944
BANKS - 2.7%
	34,500,000		Bank of America Corp		1.350		11/21/16		34,535
	51,000,000		Bank of America Corp		1.950		05/12/18		51,065
	18,500,000	e	Bank of Nova Scotia		2.125		09/11/19		18,795
	21,000,000	e,i	BOK Financial Corp		1.307		05/15/17		20,595
	7,025,000	e	Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		7,205

346

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	6,157,000		Discover Bank		4.200	%	08/08/23	$	6,438
	5,000,000	g	DNB Boligkreditt AS.		2.000		05/28/20		5,017
	10,000,000		First Niagara Financial Group, Inc		6.750		03/19/20		11,324
	35,250,000	g	ING Bank NV		2.000		11/26/18		35,357
	11,500,000	e,g	Intesa Sanpaolo S.p.A		5.017		06/26/24		10,773
	10,000,000	g	Intesa Sanpaolo S.p.A		5.710		01/15/26		9,730
	6,300,000		KeyBank NA		2.350		03/08/19		6,358
	9,913,000		Manufacturers & Traders Trust Co		6.625		12/04/17		10,699
	14,000,000		Manufacturers & Traders Trust Co		1.450		03/07/18		13,890
	4,644,000	i	Manufacturers & Traders Trust Co		1.648		12/28/20		4,528
	6,076,000	e,i	Manufacturers & Traders Trust Co		5.629		12/01/21		5,955
	2,475,000		Manufacturers & Traders Trust Co		2.900		02/06/25		2,421
	3,314,000		Northern Trust Corp		3.375		08/23/21		3,522
	18,257,000		People’s United Financial, Inc		3.650		12/06/22		18,258
	8,245,000		PNC Bank NA		2.950		01/30/23		8,309
	12,000,000		Regions Financial Corp		2.000		05/15/18		11,925
	8,450,000	e	Royal Bank of Canada		1.875		02/05/20		8,494
	12,000,000		Royal Bank of Canada		2.100		10/14/20		12,111
	14,500,000	e,g	Skandinaviska Enskilda Banken AB		1.375		05/29/18		14,469
	14,000,000		SVB Financial Group		3.500		01/29/25		13,842
	10,025,000		Toronto-Dominion Bank		2.125		04/07/21		10,008
			TOTAL BANKS						355,623
CAPITAL GOODS - 0.4%
	2,500,000		3M Co		6.375		02/15/28		3,373
	1,975,000		Anixter, Inc		5.125		10/01/21		1,985
	4,575,000	e,g	Anixter, Inc		5.500		03/01/23		4,632
	4,600,000	e	Ingersoll-Rand Global Holding Co Ltd		4.250		06/15/23		4,961
	5,155,000		Pall Corp		5.000		06/15/20		5,708
	5,625,000		Parker-Hannifin Corp		4.200		11/21/34		5,970
	6,980,000		Pentair Finance S.A.		2.650		12/01/19		6,858
	6,400,000	e	Rockwell Automation, Inc		2.050		03/01/20		6,476
	3,300,000		Rockwell Collins, Inc		3.100		11/15/21		3,415
	6,125,000		Rockwell Collins, Inc		3.700		12/15/23		6,548
	2,500,000	g	Sealed Air Corp		5.500		09/15/25		2,622
			TOTAL CAPITAL GOODS						52,548
COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	5,300,000		Air Lease Corp		2.125		01/15/18		5,247
	9,075,000		Air Lease Corp		3.875		04/01/21		9,223
	6,525,000	e	Air Lease Corp		4.250		09/15/24		6,443
	2,730,000	e	Waste Management, Inc		4.600		03/01/21		2,930
	3,475,000		Waste Management, Inc		3.900		03/01/35		3,374
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						27,217
CONSUMER DURABLES & APPAREL - 0.0%
	2,925,000		Whirlpool Corp		5.150		03/01/43		3,047
			TOTAL CONSUMER DURABLES & APPAREL						3,047
CONSUMER SERVICES - 0.5%
	4,000,000		American National Red Cross		5.567		11/15/17		4,237
	10,000,000		Henry J Kaiser Family Foundation		3.356		12/01/25		10,490
	1,250,000	e	McDonald’s Corp		5.000		02/01/19		1,369

347

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	19,000,000		Metropolitan Museum of Art		3.400	%	07/01/45	$	18,079
	7,550,000		Nature Conservancy		6.300		07/01/19		8,447
	17,500,000		New York Public Library Astor Lenox & Tilden Foundations		4.305		07/01/45		18,183
	5,145,000		Salvation Army		5.637		09/01/26		5,765
			TOTAL CONSUMER SERVICES						66,570
DIVERSIFIED FINANCIALS - 1.1%
	750,000	g,i	Armor Re Ltd		4.278		12/15/16		743
	2,675,000	e	Bank of New York Mellon Corp		5.450		05/15/19		2,975
	2,169,000		Discover Financial Services		3.850		11/21/22		2,149
	9,000,000	e,g	EDP Finance BV		4.125		01/15/20		9,012
	9,500,000	e,g	EDP Finance BV		5.250		01/14/21		9,910
	7,875,000	e	Ford Motor Credit Co LLC		2.375		01/16/18		7,912
	7,500,000	e	Ford Motor Credit Co LLC		2.943		01/08/19		7,615
	11,700,000	e	Ford Motor Credit Co LLC		3.200		01/15/21		11,969
	2,300,000		Legg Mason, Inc		3.950		07/15/24		2,286
	45,500,000		Morgan Stanley		2.200		12/07/18		45,843
	9,500,000	g	Nacional Financiera SNC		3.375		11/05/20		9,571
	31,500,000	g	Nederlandse Waterschapsbank NV		2.375		03/24/26		31,889
	9,750,000	e,g	RCI Banque S.A.		3.500		04/03/18		10,039
			TOTAL DIVERSIFIED FINANCIALS						151,913
ENERGY - 0.9%
	2,500,000	e	Devon Energy Corp		6.300		01/15/19		2,530
	3,000,000	e	EOG Resources, Inc		4.100		02/01/21		3,173
	7,700,000	e	EOG Resources, Inc		4.150		01/15/26		7,984
	8,450,000		EOG Resources, Inc		3.900		04/01/35		7,798
	6,225,000		EOG Resources, Inc		5.100		01/15/36		6,425
	1,526,000	e	Marathon Oil Corp		5.900		03/15/18		1,526
	7,450,000		Marathon Petroleum Corp		4.750		09/15/44		5,963
	3,025,000		National Oilwell Varco, Inc		1.350		12/01/17		2,958
	2,500,000		Noble Energy, Inc		8.250		03/01/19		2,752
	3,290,000	e	Noble Energy, Inc		5.050		11/15/44		2,803
	2,150,000	g	Northern Natural Gas Co		4.100		09/15/42		2,124
	4,175,000		Occidental Petroleum Corp		2.600		04/15/22		4,211
	2,760,000		Occidental Petroleum Corp		3.400		04/15/26		2,782
	9,000,000	e	Phillips 66		4.650		11/15/34		8,930
	2,575,000	e	Southwestern Energy Co		3.300		01/23/18		2,060
	5,300,000	e	Southwestern Energy Co		4.050		01/23/20		3,856
	5,000,000	e	Spectra Energy Capital LLC		5.650		03/01/20		5,141
	9,500,000		Statoil ASA		3.150		01/23/22		9,764
	4,500,000	e	Statoil ASA		2.650		01/15/24		4,386
	5,932,000	e	Statoil ASA		3.950		05/15/43		5,655
	5,000,000	g	Texas Eastern Transmission LP		4.125		12/01/20		5,154
	12,150,000	g	Texas Eastern Transmission LP		2.800		10/15/22		11,540
	12,350,000	g	Woodside Finance Ltd		3.650		03/05/25		11,477
			TOTAL ENERGY						120,992
FOOD & STAPLES RETAILING - 0.0%
	1,451,000		Safeway, Inc		3.400		12/01/16		1,451
			TOTAL FOOD & STAPLES RETAILING						1,451

348

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
FOOD, BEVERAGE & TOBACCO - 0.2%
$	4,678,000	e	Kellogg Co		4.000	%	12/15/20	$	5,074
	3,250,000	e	Mead Johnson Nutrition Co		3.000		11/15/20		3,341
	5,075,000	e	Mead Johnson Nutrition Co		4.125		11/15/25		5,391
	428,000		PepsiCo, Inc		7.900		11/01/18		499
	5,100,000	e	PepsiCo, Inc		1.500		02/22/19		5,164
	3,559,000		PepsiCo, Inc		4.000		03/05/42		3,683
			TOTAL FOOD, BEVERAGE & TOBACCO						23,152
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	3,250,000		Laboratory Corp of America Holdings		2.625		02/01/20		3,265
	9,000,000	e	Laboratory Corp of America Holdings		3.200		02/01/22		9,129
	5,375,000		Owens & Minor, Inc		3.875		09/15/21		5,419
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						17,813
INSURANCE - 0.4%
	1,600,000	g,i	Merna Reinsurance IV Ltd		2.698		04/08/16		1,599
	3,100,000		Progressive Corp		3.750		08/23/21		3,338
	15,000,000	e,i	Prudential Financial, Inc		5.200		03/15/44		14,459
	7,450,000	e,i	Prudential Financial, Inc		5.375		05/15/45		7,376
	10,550,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		10,599
	8,687,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		8,562
	2,000,000		Travelers Cos, Inc		5.900		06/02/19		2,258
			TOTAL INSURANCE						48,191
MATERIALS - 0.4%
	2,275,000	e	Ball Corp		5.000		03/15/22		2,377
	8,930,000	e	Ball Corp		4.000		11/15/23		8,796
	5,750,000		Domtar Corp		4.400		04/01/22		5,899
	2,300,000		Eastman Chemical Co		5.500		11/15/19		2,549
	7,500,000	e	International Paper Co		5.000		09/15/35		7,728
	5,000,000		International Paper Co		6.000		11/15/41		5,432
	4,000,000	e	International Paper Co		4.800		06/15/44		3,853
	10,000,000		LyondellBasell Industries NV		4.625		02/26/55		8,936
	5,000,000	e	MeadWestvaco Corp		7.375		09/01/19		5,721
	5,000,000	e	Nucor Corp		4.000		08/01/23		5,213
			TOTAL MATERIALS						56,504
MEDIA - 0.3%
	3,125,000	e,g	CCO Safari II LLC		3.579		07/23/20		3,194
	7,925,000	e,g	CCO Safari II LLC		4.464		07/23/22		8,303
	4,725,000	e,g	CCO Safari II LLC		4.908		07/23/25		4,986
	7,225,000		Time Warner Cable, Inc		8.250		04/01/19		8,413
	5,500,000	e	Time Warner Cable, Inc		4.500		09/15/42		4,883
			TOTAL MEDIA						29,779
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.2%
	2,550,000	e	Biogen, Inc		2.900		09/15/20		2,625
	7,000,000	e	Biogen, Inc		3.625		09/15/22		7,406
	5,000,000		Bristol-Myers Squibb Co		3.250		08/01/42		4,657
	3,300,000		Zoetis, Inc		3.450		11/13/20		3,392
	10,000,000		Zoetis, Inc		3.250		02/01/23		9,892
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						27,972

349

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
REAL ESTATE - 0.3%
$	10,000,000		Equity One, Inc		3.750	%	11/15/22	$	10,032
	3,500,000		Federal Realty Investment Trust		2.750		06/01/23		3,457
	3,400,000		Healthcare Realty Trust, Inc		5.750		01/15/21		3,781
	4,825,000	e	Mid-America Apartments LP		4.000		11/15/25		4,928
	15,854,000	e	Regency Centers LP		3.750		06/15/24		16,207
	2,400,000		Ventas Realty LP		3.250		08/15/22		2,405
			TOTAL REAL ESTATE						40,810
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	25,000,000		Apple, Inc		2.850		02/23/23		25,860
	3,375,000		CC Holdings GS V LLC		2.381		12/15/17		3,404
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						29,264
TELECOMMUNICATION SERVICES - 0.0%
	3,400,000	e	CenturyLink, Inc		6.750		12/01/23		3,307
			TOTAL TELECOMMUNICATION SERVICES						3,307
TRANSPORTATION - 0.7%
	2,421,376		Delta Airlines		4.250		07/30/23		2,373
	5,807,645		Delta Airlines		3.625		07/30/27		5,742
	7,500,000	e	GATX Corp		2.600		03/30/20		7,365
	7,250,000		GATX Corp		5.200		03/15/44		6,999
	9,925,000	g	Kansas City Southern		4.950		08/15/45		10,139
	5,000,000	e	Norfolk Southern Corp		3.250		12/01/21		5,178
	6,894,000		Norfolk Southern Corp		2.903		02/15/23		6,930
	475,000		Norfolk Southern Corp		5.590		05/17/25		561
	7,500,000	e	Norfolk Southern Corp		4.450		06/15/45		7,746
	3,450,000		Southwest Airlines Co		2.750		11/06/19		3,550
	8,900,000		Spirit Airlines, Inc		4.100		04/01/28		8,945
	4,050,000	e	Union Pacific Corp		3.375		02/01/35		3,902
	5,388,060		Union Pacific Railroad Co		3.227		05/14/26		5,487
	10,000,000		Union Pacific Railroad Co		2.695		05/12/27		10,148
	1,360,000	i	United Parcel Service of America, Inc (Step Bond)		8.375		04/01/30		1,960
			TOTAL TRANSPORTATION						87,025
UTILITIES - 2.4%
	2,000,000	e	Atmos Energy Corp		8.500		03/15/19		2,369
	1,200,000		Connecticut Light & Power Co		5.500		02/01/19		1,330
	2,000,000		Connecticut Light & Power Co		5.750		03/01/37		2,425
	3,000,000		Connecticut Light & Power Co		4.150		06/01/45		3,146
	8,727,435	g	Continental Wind LLC		6.000		02/28/33		9,571
	10,000,000		Delmarva Power & Light Co		4.150		05/15/45		10,322
	25,000,000	e,g	Electricite de France S.A.		3.625		10/13/25		25,515
	11,250,000		Georgia Power Co		3.250		04/01/26		11,533
	872,705	g	Great River Energy		5.829		07/01/17		889
	2,745,000	g	International Transmission Co		4.625		08/15/43		2,924
	7,575,000		Interstate Power & Light Co		3.250		12/01/24		7,804
	6,275,000		Interstate Power & Light Co		3.400		08/15/25		6,563
	9,250,000	g	Narragansett Electric Co		4.170		12/10/42		8,931
	9,450,000		NextEra Energy Capital Holdings, Inc		2.700		09/15/19		9,555

350

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	9,600,000	e,g	Niagara Mohawk Power Corp		4.278	%	10/01/34	$	9,911
	9,750,000	g	Niagara Mohawk Power Corp		4.119		11/28/42		9,482
	1,500,000		Northwest Natural Gas Co		5.620		11/21/23		1,721
	10,000,000		NorthWestern Corp		4.176		11/15/44		10,485
	1,065,000	i	NSTAR Electric Co		0.858		05/17/16		1,065
	630,000		Public Service Co of Colorado		4.750		08/15/41		720
	5,500,000	e	San Diego Gas & Electric Co		3.000		08/15/21		5,823
	5,892,865		San Diego Gas & Electric Co		1.914		02/01/22		5,863
	620,000		San Diego Gas & Electric Co		6.000		06/01/39		818
	8,875,000	e	Sierra Pacific Power Co		3.375		08/15/23		9,345
	27,000,000	g	Solar Star Funding LLC		3.950		06/30/35		27,889
	7,950,000	g	Solar Star Funding LLC		5.375		06/30/35		9,218
	2,000,000		Southern California Edison Co		2.400		02/01/22		2,020
	5,975,000		Southern Power Co		1.850		12/01/17		6,019
	39,250,000		Southern Power Co		4.150		12/01/25		40,460
	16,000,000	g	TerraForm Power Operating LLC		5.875		02/01/23		12,960
	20,256,555	g	Topaz Solar Farms LLC		4.875		09/30/39		21,796
	13,913,054	g	Topaz Solar Farms LLC		5.750		09/30/39		15,951
	5,000,000		Washington Gas Light Co		5.440		08/11/25		5,721
	1,400,000	e	WEC Energy Group, Inc		3.550		06/15/25		1,455
	16,525,000		WGL Holdings, Inc		2.250		11/01/19		16,738
			TOTAL UTILITIES						318,337
			TOTAL CORPORATE BONDS						1,477,459
			(Cost $1,455,244)
GOVERNMENT BONDS -  23.3%
AGENCY SECURITIES - 4.2%
	8,143,172		Ethiopian Leasing 2012 LLC		2.566		08/14/26		8,397
	3,942,362		Export Lease Ten Co LLC		1.650		05/07/25		3,903
	5,500,000		Federal Home Loan Bank (FHLB)		5.000		11/17/17		5,877
	4,250,000		FHLB		2.350		08/08/22		4,250
	5,000,000		Federal Home Loan Mortgage Corp (FHLMC)		1.000		09/29/17		5,016
	6,400,000		Federal National Mortgage Association (FNMA)		1.125		04/27/17		6,431
	7,000,000		FNMA		1.625		01/21/20		7,122
	15,500,000		FNMA		2.625		09/06/24		16,374
	2,290,826	g	Genesis Solar 2011 Pass Through Trust		3.875		02/15/38		2,508
	1,096,000	j	Government Trust Certificate		0.000		04/01/19		1,052
	5,000,000	j	Government Trust Certificate		0.000		04/01/21		4,555
	33,000,000		Hashemite Kingdom of Jordan Government AID Bond		2.503		10/30/20		34,752
	7,570,000	g	Hospital for Special Surgery		3.500		01/01/23		7,816
	8,250,000	i	India Government AID Bond		0.716		02/01/27		7,880
	5,805,000		Lutheran Medical Center		1.982		02/20/30		5,716
	8,250,000		Mexican Aircraft Finance V LLC		2.329		01/14/27		8,407
	3,735,000	g	Montefiore Medical Center		3.896		05/20/27		3,821
	9,965,000		NCUA Guaranteed Notes		2.350		06/12/17		10,152
	11,450,000		NCUA Guaranteed Notes		3.000		06/12/19		12,133
	7,000,000		NCUA Guaranteed Notes		3.450		06/12/21		7,655
	18,340,000		New York Society for the Relief of the Ruptured & Crippled		2.881		12/20/31		18,660
	3,000,000	j	Overseas Private Investment Corp (OPIC)		0.000		04/30/17		3,226
	775,000	j	OPIC		0.000		11/11/17		775
	10,750,000	j	OPIC		0.000		11/17/17		10,949

351

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,700,000	j	OPIC		0.000	%	11/15/19	$	5,977
	4,648,662		OPIC		2.290		09/15/26		4,776
	2,530,067		OPIC		2.040		12/15/26		2,563
	9,750,000		OPIC		2.740		09/15/29		9,830
	12,000,000		OPIC		3.220		09/15/29		12,552
	13,500,000		OPIC		3.280		09/15/29		14,185
	2,459,556		OPIC		2.610		04/15/30		2,456
	4,370,000		OPIC		2.930		05/15/30		4,483
	7,222,000		OPIC		3.040		05/15/30		7,516
	8,382,389		OPIC		3.540		06/15/30		9,117
	21,574,626		OPIC		3.370		12/15/30		23,283
	22,596,306		OPIC		3.820		12/20/32		24,850
	14,578,262		OPIC		3.938		12/20/32		16,028
	12,495,573		OPIC		3.160		06/01/33		12,966
	11,995,750		OPIC		3.430		06/01/33		12,787
	1,250,000		OPIC		2.810		07/31/33		1,263
	2,000,000		OPIC		2.940		07/31/33		2,042
	11,750,000		Private Export Funding Corp (PEFCO)		1.375		02/15/17		11,813
	8,000,000		PEFCO		2.250		12/15/17		8,168
	5,000,000		PEFCO		4.375		03/15/19		5,469
	5,854,000		PEFCO		1.450		08/15/19		5,926
	13,150,000	e	PEFCO		2.250		03/15/20		13,588
	8,000,000		PEFCO		2.300		09/15/20		8,301
	17,500,000		PEFCO		4.300		12/15/21		19,921
	8,250,000		PEFCO		2.050		11/15/22		8,279
	4,000,000		PEFCO		3.550		01/15/24		4,390
	5,335,000		PEFCO		2.450		07/15/24		5,420
	8,000,000		PEFCO		3.250		06/15/25		8,559
	2,746,331		Tayarra Ltd		3.628		02/15/22		2,909
	2,650,886		Tricahue Leasing LLC		3.503		11/19/21		2,795
	9,250,000		Ukraine Government AID Bonds		1.844		05/16/19		9,376
	15,300,000		Ukraine Government AID Bonds		1.847		05/29/20		15,565
	7,700,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		8,056
	4,894,000		US Department of Housing and Urban Development (HUD)		2.910		08/01/17		5,032
	8,000,000		HUD		4.560		08/01/17		8,413
	10,750,000		HUD		1.770		08/01/18		10,957
	5,007,000		HUD		5.380		08/01/18		5,092
	750,000		HUD		2.050		08/01/19		775
	9,500,000		HUD		4.870		08/01/19		10,622
	13,967,000		HUD		4.960		08/01/20		15,773
	13,500,000		HUD		5.050		08/01/21		15,256
	3,217,000		HUD		2.910		08/01/23		3,402
	3,333,333		VRG Linhas Aereas S.A.		0.983		03/13/18		3,319
			TOTAL AGENCY SECURITIES						581,277
FOREIGN GOVERNMENT BONDS - 4.3%
	26,000,000		African Development Bank		1.375		12/17/18		26,249
	13,550,000		African Development Bank		2.375		09/23/21		14,119
	17,500,000		Asian Development Bank		2.125		03/19/25		17,750
	6,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		6,108
	9,000,000	e	Canada Government International Bond		1.125		03/19/18		9,050
	7,253,799	g	Carpintero Finance Ltd		2.004		09/18/24		7,307
	25,000,000		European Bank for Reconstruction & Development		1.625		04/10/18		25,243

352

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,000,000		European Investment Bank		2.000	%	03/15/21	$	2,047
	2,000,000		European Investment Bank		4.875		02/15/36		2,582
	20,000,000		Export Development Canada		0.875		01/30/17		20,021
	16,275,000		Export Development Canada		1.250		12/10/18		16,330
	9,000,000		Export Development Canada		1.625		12/03/19		9,136
	18,175,000		Export-Import Bank of Korea		1.750		02/27/18		18,193
	15,000,000	g	Finnvera Oyj		2.375		06/04/25		15,053
	6,082,000		Hydro Quebec		8.400		01/15/22		8,042
	45,000,000		Inter-American Development Bank		1.185		07/09/18		45,242
	3,000,000		International Bank for Reconstruction & Development		2.000		10/20/16		3,028
	4,000,000		International Finance Corp		0.500		05/16/16		4,000
	19,075,000		International Finance Corp		1.250		11/27/18		19,177
	29,250,000	h	International Finance Corp		2.125		04/07/26		29,340
	29,000,000	g,i	International Finance Facility for Immunisation		0.819		07/05/16		28,994
	2,850,000		Italy Government International Bond		5.375		06/12/17		2,976
	5,000,000		KFW		1.000		01/26/18		5,005
	23,000,000		KFW		1.750		10/15/19		23,384
	11,500,000		KFW		1.500		04/20/20		11,563
	38,200,000		KFW		1.875		11/30/20		38,906
	10,000,000		KFW		2.625		01/25/22		10,536
	12,500,000	g	Kommunalbanken AS.		2.125		02/11/25		12,501
	19,400,000	g	Kommuninvest I Sverige AB		1.500		04/23/19		19,568
	36,075,000		North American Development Bank		2.400		10/26/22		36,665
	15,250,000		Province of Manitoba Canada		1.750		05/30/19		15,442
	15,000,000		Province of Manitoba Canada		2.100		09/06/22		15,092
	12,700,000	e	Province of Manitoba Canada		3.050		05/14/24		13,418
	10,000,000		Province of New Brunswick Canada		2.750		06/15/18		10,325
	9,500,000		Province of Ontario Canada		1.200		02/14/18		9,487
	5,000,000		Province of Ontario Canada		4.400		04/14/20		5,544
	10,000,000		Province of Quebec Canada		3.500		07/29/20		10,778
	5,000,000		Province of Quebec Canada		7.500		09/15/29		7,453
			TOTAL FOREIGN GOVERNMENT BONDS						575,654
MORTGAGE BACKED - 8.3%
	7,765,786		Federal Home Loan Mortgage Corp (FHLMC)		3.500		09/15/41		8,135
	11,406,499		FHLMC		3.000		09/15/42		11,686
	2,695,083	i	FHLMC		0.786		10/15/42		2,703
	8,209,954	i	FHLMC		0.786		07/15/45		8,239
	7,338		Federal Home Loan Mortgage Corp Gold (FGLMC)		6.500		12/01/16		7
	49,484		FGLMC		6.000		12/01/17		51
	61,600		FGLMC		7.000		10/01/20		65
	5,996		FGLMC		7.000		05/01/23		7
	21,804		FGLMC		8.000		01/01/31		25
	8,000,000	h	FGLMC		3.000		05/15/31		8,349
	471,081		FGLMC		4.500		07/01/33		514
	864,887		FGLMC		5.500		09/01/33		977
	766,138		FGLMC		5.500		09/01/33		865
	1,194,334		FGLMC		5.500		12/01/33		1,349
	3,014,304		FGLMC		7.000		12/01/33		3,671
	1,054,568		FGLMC		7.000		05/01/35		1,280
	136,522		FGLMC		5.000		02/01/36		151
	2,014		FGLMC		6.500		05/01/36		2
	713,130		FGLMC		5.000		07/01/39		785

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,286,719		FGLMC		4.500	%	11/01/40	$	3,659
	3,678,533		FGLMC		4.500		12/01/40		4,084
	934,918		FGLMC		4.500		10/01/44		1,036
	1,051,323		FGLMC		4.500		11/01/44		1,165
	1,385,612		FGLMC		4.500		11/01/44		1,534
	813,655		FGLMC		4.500		12/01/44		901
	522,013		FGLMC		4.500		12/01/44		571
	3,858,984		FGLMC		3.500		04/01/45		4,066
	8,735,067		FGLMC		3.500		07/01/45		9,165
	34,687,673	h	FGLMC		3.500		10/01/45		36,544
	9,075,589		FGLMC		4.000		10/01/45		9,860
	25,662,727	h	FGLMC		4.000		12/01/45		27,715
	14,000,000	h	FGLMC		3.500		04/15/46		14,660
	10,498		Federal National Mortgage Association (FNMA)		8.000		03/01/23		11
	28,994		FNMA		8.000		07/01/24		35
	1,854,169		FNMA		3.000		01/01/30		1,940
	2,424,870		FNMA		3.000		06/01/30		2,538
	4,039,144		FNMA		3.000		07/01/30		4,227
	5,857,871		FNMA		3.000		12/01/30		6,131
	11,000,000	h	FNMA		2.500		04/25/31		11,293
	19,000,000	h	FNMA		3.000		04/25/31		19,849
	14,000,000	h	FNMA		2.500		05/25/31		14,347
	14,000,000	h	FNMA		3.000		05/25/31		14,603
	392,312		FNMA		6.500		07/01/32		463
	142,383		FNMA		4.500		03/25/33		144
	3,529,796		FNMA		5.000		06/01/33		3,924
	7,404,661		FNMA		5.000		10/01/33		8,231
	400,557		FNMA		5.000		11/01/33		452
	82,749		FNMA		7.000		01/01/34		89
	1,129,291		FNMA		5.000		03/01/34		1,255
	1,904,543		FNMA		5.500		03/01/34		2,157
	7,899,660		FNMA		3.000		01/01/35		8,247
	6,148,883		FNMA		5.000		05/01/35		6,821
	3,942,127		FNMA		5.000		10/01/35		4,370
	5,946,460		FNMA		3.500		01/01/36		6,273
	1,996,258	h	FNMA		5.000		02/01/36		2,213
	1,497,550		FNMA		5.500		08/01/37		1,695
	732,084		FNMA		6.000		09/01/37		849
	727,577		FNMA		6.000		09/01/37		844
	203,618		FNMA		6.500		09/01/37		233
	858,270		FNMA		5.500		01/01/38		972
	18,201		FNMA		6.500		02/01/38		21
	3,023,530		FNMA		5.500		04/01/38		3,401
	3,635,579		FNMA		5.500		11/01/38		4,256
	5,153,848		FNMA		5.500		12/01/38		5,915
	34,710		FNMA		4.500		04/01/39		38
	441,207		FNMA		4.000		07/01/39		475
	1,811,768		FNMA		5.500		08/01/39		2,068
	700,572		FNMA		4.500		10/01/39		764
	69,853		FNMA		4.500		02/01/40		77
	770,031		FNMA		4.500		06/01/40		840
	615,854		FNMA		5.000		08/01/40		682
	3,098,329		FNMA		5.000		09/01/40		3,436

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	147,809		FNMA		4.500	%	11/01/40	$	162
	1,691,228		FNMA		4.500		11/01/40		1,845
	277,963		FNMA		4.500		01/01/41		307
	7,679,831		FNMA		4.500		01/01/41		8,477
	207,872		FNMA		4.500		02/01/41		230
	4,975,720		FNMA		5.000		05/01/41		5,521
	239,043		FNMA		4.500		06/01/41		264
	259,991		FNMA		4.500		06/01/41		286
	905,678		FNMA		5.000		06/01/41		1,006
	2,842,935		FNMA		5.000		07/01/41		3,157
	2,024,143		FNMA		4.500		09/01/41		2,224
	2,783,696		FNMA		4.500		11/01/41		3,039
	428,640		FNMA		4.500		12/01/41		471
	14,460,348		FNMA		5.500		12/01/41		16,714
	263,232		FNMA		4.500		01/01/42		289
	846,831	h	FNMA		4.500		01/01/42		938
	2,270,543		FNMA		3.500		02/01/42		2,394
	8,345,899		FNMA		4.500		02/01/42		9,099
	11,000,000		FNMA		3.000		03/25/42		11,376
	269,588		FNMA		4.500		04/01/42		296
	2,760,933		FNMA		4.500		04/01/42		3,012
	11,453,278		FNMA		4.500		06/01/42		12,493
	298,341		FNMA		4.500		06/01/42		328
	12,651,635		FNMA		3.500		07/01/42		13,342
	243,767		FNMA		4.500		07/01/42		269
	6,234,285	i	FNMA		0.933		08/25/42		6,278
	199,055		FNMA		3.000		10/01/42		205
	10,971,441		FNMA		3.000		10/01/42		11,284
	5,827,799	i	FNMA		0.833		11/25/42		5,813
	6,720,049		FNMA		3.500		11/25/42		1,223
	255,305		FNMA		3.000		12/01/42		262
	8,113,323		FNMA		3.000		01/01/43		8,344
	3,680,411		FNMA		3.000		01/01/43		3,782
	10,294,211		FNMA		3.000		02/01/43		10,587
	5,898,725		FNMA		3.000		02/25/43		6,169
	3,801,709	i	FNMA		0.783		03/25/43		3,804
	12,774		FNMA		3.000		04/01/43		13
	123,281		FNMA		3.000		04/01/43		127
	154,386		FNMA		3.000		04/01/43		159
	5,841,810		FNMA		3.000		08/25/43		6,122
	3,364,213		FNMA		3.500		09/01/43		3,534
	5,153,774		FNMA		4.000		04/01/44		5,547
	2,434,376		FNMA		4.000		06/01/44		2,621
	3,228,342		FNMA		4.000		06/01/44		3,477
	1,306,931		FNMA		4.500		06/01/44		1,450
	12,551,544		FNMA		4.500		06/01/44		13,926
	957,928		FNMA		4.000		07/01/44		1,031
	2,360,447		FNMA		4.000		07/01/44		2,541
	1,185,698		FNMA		4.000		08/01/44		1,287
	2,840,540		FNMA		4.000		08/01/44		3,083
	4,318,360		FNMA		4.000		08/01/44		4,687
	7,775,510		FNMA		4.000		08/01/44		8,371
	2,882,293		FNMA		4.500		08/01/44		3,198

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	826,593		FNMA		4.000	%	09/01/44	$	897
	699,871		FNMA		4.000		09/01/44		760
	4,188,379		FNMA		4.000		10/01/44		4,546
	6,761,954		FNMA		4.500		10/01/44		7,503
	1,985,785		FNMA		3.500		11/01/44		2,094
	13,223,506		FNMA		4.500		11/01/44		14,670
	2,993,621		FNMA		4.000		12/01/44		3,208
	5,510,807		FNMA		4.000		12/01/44		5,980
	2,879,201		FNMA		4.500		12/01/44		3,195
	2,965,998		FNMA		4.000		01/01/45		3,220
	4,753,887		FNMA		3.500		02/01/45		5,013
	892,509		FNMA		3.500		03/01/45		941
	347,712		FNMA		3.500		03/01/45		367
	1,217,946		FNMA		3.500		03/01/45		1,284
	578,886		FNMA		3.500		03/01/45		611
	822,604		FNMA		4.500		03/01/45		913
	915,554		FNMA		3.500		04/01/45		965
	7,325,772		FNMA		3.500		04/01/45		7,725
	1,690,410		FNMA		3.500		04/01/45		1,782
	623,244		FNMA		3.500		04/01/45		654
	386,428		FNMA		3.500		04/01/45		407
	766,698		FNMA		4.500		04/01/45		851
	6,762,317		FNMA		3.500		05/01/45		7,164
	901,149		FNMA		4.000		05/01/45		978
	1,111,067		FNMA		3.500		06/01/45		1,172
	1,998,920		FNMA		4.000		06/01/45		2,170
	2,933,564	h	FNMA		3.500		07/01/45		3,093
	9,069,765		FNMA		4.000		07/01/45		9,803
	3,846,836		FNMA		4.000		11/01/45		4,176
	993,629		FNMA		4.000		12/01/45		1,079
	21,882,437		FNMA		3.500		01/01/46		22,959
	30,933,903		FNMA		3.500		02/01/46		32,456
	1,957,447		FNMA		4.000		02/01/46		2,094
	2,038,786		FNMA		4.000		02/01/46		2,184
	23,037,019		FNMA		3.500		03/01/46		24,171
	19,000,000	h	FNMA		3.000		04/25/46		19,497
	18,000,000	h	FNMA		4.000		04/25/46		19,238
	7,000,000	h	FNMA		4.500		04/25/46		7,616
	8,000,000	h	FNMA		3.000		05/25/46		8,192
	57,000,000	h	FNMA		4.000		05/25/46		60,830
	20,000,000	h	FNMA		4.500		05/25/46		21,736
	3,115		Government National Mortgage Association (GNMA)		9.000		12/15/17		3
	3,438,546		GNMA		2.300		10/15/19		3,441
	6,943		GNMA		8.000		06/15/22		7
	7,704		GNMA		6.500		08/15/23		9
	19,709		GNMA		6.500		08/15/23		23
	6,633,498		GNMA		2.580		08/15/25		6,882
	92,049		GNMA		6.500		05/20/31		110
	8,785,083		GNMA		2.640		01/15/33		9,265
	12,302,173		GNMA		2.690		06/15/33		12,304
	217,727		GNMA		5.500		07/15/33		250
	9,809,528		GNMA		3.700		10/15/33		10,846
	121,357		GNMA		6.000		10/20/36		139

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	127,871		GNMA		6.000	%	01/20/37	$	146
	477,049		GNMA		5.500		02/15/37		540
	699,235		GNMA		6.000		02/20/37		802
	318,181		GNMA		5.000		04/15/38		355
	223,331		GNMA		6.000		08/20/38		253
	475,788		GNMA		6.500		11/20/38		549
	4,748,108		GNMA		4.500		09/20/39		5,303
	8,743,087		GNMA		3.700		08/15/40		9,589
	17,613,570		GNMA		3.500		10/20/42		3,196
	20,920,000		GNMA		4.000		03/20/46		22,440
	5,000,000	h	GNMA		3.000		04/20/46		5,182
	12,000,000	h	GNMA		3.500		04/20/46		12,686
	5,000,000	h	GNMA		4.000		04/20/46		5,346
	56,000,000	h	GNMA		3.000		05/20/46		57,902
	67,000,000	h	GNMA		3.500		05/20/46		70,685
	10,000,000	h	GNMA		4.000		05/20/46		10,675
	18,000,000	h	GNMA		3.000		06/20/46		18,572
			TOTAL MORTGAGE BACKED						1,112,158
MUNICIPAL BONDS - 3.8%
	4,500,000	g	Basin Electric Power Coop		6.127		06/01/41		5,350
	3,790,000		Bay Area Water Supply & Conservation Agency		2.535		10/01/21		3,895
	2,635,000		Bay Area Water Supply & Conservation Agency		3.015		10/01/24		2,734
	1,170,000		Brunswick & Glynn County Development Authority		3.060		04/01/25		1,210
	7,465,000		California Earthquake Authority		2.805		07/01/19		7,646
	13,000,000		California Housing Finance Agency		2.966		08/01/22		13,362
	6,165,000	g	California Pollution Control Financing Authority		5.000		07/01/27		6,409
	8,020,000	g	California Pollution Control Financing Authority		5.000		07/01/37		8,329
	2,500,000	g	California Pollution Control Financing Authority		5.000		11/21/45		2,569
	3,700,000		Calleguas Municipal Water District		2.030		07/01/18		3,764
	10,000,000		Chicago Metropolitan Water Reclamation District-Greater Chicago		5.720		12/01/38		12,270
	1,250,000		City & County of Honolulu, HI		6.114		07/01/29		1,383
	8,850,000		City of Austin TX Water & Wastewater System Revenue		1.933		05/15/19		8,971
	2,750,000		City of Austin TX Water & Wastewater System Revenue		2.133		11/15/19		2,793
	6,500,000		City of Chicago IL		7.750		01/01/42		6,480
	7,280,000		City of Cincinnati OH Water System Revenue		2.568		12/01/21		7,632
	700,000		City of Eugene, OR		6.320		08/01/22		805
	12,500,000		City of Houston TX Utility System Revenue		2.563		05/15/20		13,081
	2,200,000		City of Jersey City NJ		1.509		09/01/16		2,204
	2,180,000		City of Jersey City NJ		1.829		09/01/17		2,184
	500,000		City of Jersey City NJ		2.079		09/01/18		504
	925,000		City of Jersey City NJ		2.423		09/01/19		938
	1,000,000		Commonwealth Financing Authority		2.675		06/01/21		1,015
	1,150,000		Commonwealth Financing Authority		2.875		06/01/22		1,165
	2,310,000		Commonwealth Financing Authority		3.075		06/01/23		2,360
	10,000,000		Commonwealth of Massachusetts		5.000		08/01/33		11,700
	385,000		County of Mercer, NJ		5.380		02/01/17		400
	23,500,000		District of Columbia Water & Sewer Authority		4.814		10/01/14		24,933
	3,500,000		Fiscal Year 2005 Securitization Corp		4.760		08/15/19		3,712
	9,000,000		Florida State Board of Administration Finance Corp		2.163		07/01/19		9,057
	15,630,000	j	Garden State Preservation Trust		0.000		11/01/22		13,598
	1,000,000		Grant County Public Utility District No 2		5.470		01/01/34		1,098

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,250,000		Grant County Public Utility District No 2		4.164	%	01/01/35	$	1,277
	4,135,000		Greene County OH		2.720		12/01/21		4,218
	4,365,000		Greene County OH		3.120		12/01/23		4,445
	4,615,000		Greene County OH		3.270		12/01/24		4,690
	4,755,000		Greene County OH		3.420		12/01/25		4,817
	1,600,000		Guadalupe Valley Electric Coop, Inc		5.671		10/01/32		1,799
	975,000		Guadalupe-Blanco River Authority Industrial Development Corp		3.287		04/15/23		1,010
	5,125,000		Imperial Irrigation District Electric System Revenue		4.500		11/01/40		5,465
	2,000,000	h	Kern County Water Agency Improvement District No 4		4.276		05/01/36		2,016
	540,000		Lavaca-Navidad River Authority		3.850		08/01/26		560
	6,430,000		Lavaca-Navidad River Authority		4.430		08/01/35		6,476
	3,480,000		Massachusetts Housing Finance Agency		4.782		12/01/20		3,564
	3,500,000		Metropolitan Council		1.750		09/01/20		3,551
	5,000,000		Metropolitan Water District of Southern California		6.250		07/01/39		5,558
	750,000		Metropolitan Water Reclamation District of Greater Chicago		2.229		12/01/16		756
	1,590,000		Michigan Finance Authority		5.000		07/01/16		1,606
	8,945,000		Michigan Finance Authority		5.000		07/01/22		10,563
	500,000		Michigan Finance Authority		5.000		07/01/22		581
	8,000,000		Michigan Finance Authority		5.000		07/01/22		9,447
	2,500,000		Michigan Finance Authority		5.000		07/01/30		2,898
	2,000,000		Michigan Finance Authority		5.000		07/01/31		2,306
	1,590,000		New York State Energy Research & Development Authority		2.372		07/01/19		1,635
	1,285,000		New York State Energy Research & Development Authority		2.772		07/01/20		1,339
	1,590,000		New York State Energy Research & Development Authority		3.206		07/01/22		1,700
	1,200,000		New York State Environmental Facilities Corp		2.005		06/15/19		1,216
	1,220,000		New York State Environmental Facilities Corp		2.595		06/15/21		1,260
	1,255,000		New York State Environmental Facilities Corp		3.045		06/15/24		1,317
	1,225,000		New York State Environmental Facilities Corp		3.195		06/15/25		1,280
	2,120,000		New York State Environmental Facilities Corp		3.520		07/15/27		2,239
	500,000		New York State Environmental Facilities Corp		3.684		12/15/29		513
	800,000		New York State Environmental Facilities Corp		5.807		06/15/39		1,035
	1,915,000		New York State Urban Development Corp		6.500		12/15/18		2,078
	1,250,000	g	Niagara Area Development Corp		4.000		11/01/24		1,279
	4,750,000		Northern California Power Agency		4.320		07/01/24		5,248
	2,450,000		Ohio State Water Development Authority		4.879		12/01/34		2,885
	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		748
	1,000,000		Pend Oreille County Public Utility District No  Box Canyon		2.417		01/01/17		1,012
	1,000,000		Pend Oreille County Public Utility District No  Box Canyon		2.787		01/01/18		1,026
	1,000,000		Pend Oreille County Public Utility District No  Box Canyon		3.037		01/01/19		1,046
	1,070,000		Pend Oreille County Public Utility District No  Box Canyon		3.621		01/01/21		1,143
	5,000,000		Pend Oreille County Public Utility District No  Box Canyon		5.000		01/01/30		5,215
	3,000,000		Pittsburgh Water & Sewer Authority		6.610		09/01/24		3,659
	1,000,000		South Dakota Conservancy District		1.620		08/01/18		1,010
	3,330,000		South Dakota Conservancy District		1.648		08/01/18		3,360
	2,920,000		South Dakota Conservancy District		1.898		08/01/19		2,966
	38,830,000		State of California		3.750		10/01/37		40,642
	7,050,000		State of California		4.988		04/01/39		7,539
	5,570,000		State of Illinois		4.350		06/01/18		5,689
	9,000,000		State of Illinois		5.520		04/01/38		8,361
	4,505,000		State of Michigan		3.375		12/01/20		4,867
	4,405,000		State of Michigan		3.590		12/01/26		4,625

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,500,000	State of Ohio		5.412	%	09/01/28	$	3,066
	3,265,000	State of Texas		4.900		08/01/20		3,275
	5,000,000	State of Texas		6.072		10/01/29		5,745
	2,025,000	State of Texas		3.576		08/01/34		2,024
	3,370,000	State of Texas		3.726		08/01/43		3,396
	1,355,000	State of Washington		5.050		01/01/18		1,356
	3,000	State of Wisconsin		5.700		05/01/26		4
	11,480,000	Suffolk County Water Authority		3.500		06/01/39		11,817
	4,000,000	Suffolk County Water Authority		4.000		06/01/39		4,288
	2,280,000	Tampa Bay Water		2.612		10/01/25		2,325
	3,225,000	Tampa Bay Water		2.782		10/01/26		3,272
	3,000,000	Tampa Bay Water		2.952		10/01/27		3,018
	1,255,000	Texas Water Development Board		4.248		10/15/35		1,281
	4,170,000	Texas Water Development Board		4.648		04/15/50		4,257
	5,000,000	Tuolumne Wind Project Authority		6.918		01/01/34		6,284
	3,035,000	University of California		3.809		05/15/28		3,204
	11,400,000	University of California		4.009		05/15/30		12,094
	1,000,000	University of Cincinnati		3.250		06/01/29		1,037
	1,560,000	University of Cincinnati		3.650		06/01/34		1,622
	1,615,000	University of Cincinnati		3.700		06/01/35		1,678
	18,000,000	University of New Mexico		3.532		06/20/32		18,069
	17,500,000	University of Virginia		3.570		04/01/45		18,239
	1,000,000	Washington County Clean Water Services		5.078		10/01/24		1,207
	600,000	West Virginia Water Development Authority		5.000		11/01/21		711
	1,345,000	West Virginia Water Development Authority		5.000		11/01/22		1,624
	1,000,000	West Virginia Water Development Authority		5.000		11/01/23		1,226
		TOTAL MUNICIPAL BONDS						501,705
U.S. TREASURY SECURITIES - 2.7%
	6,000,000	United States Treasury Bond		3.125		02/15/43		6,648
	50,000,000	United States Treasury Bond		2.875		05/15/43		52,707
	1,000,000	United States Treasury Bond		3.375		05/15/44		1,160
	63,865,000	United States Treasury Bond		3.000		11/15/45		68,972
	2,000,000	United States Treasury Note		0.625		07/15/16		2,001
	2,200,000	United States Treasury Note		0.500		11/30/16		2,200
	4,890,000	United States Treasury Note		0.500		02/28/17		4,885
	10,325,000	United States Treasury Note		0.750		02/28/18		10,329
	11,475,000	United States Treasury Note		1.000		03/15/19		11,522
	1,030,000	United States Treasury Note		1.625		04/30/19		1,052
	58,725,000	United States Treasury Note		1.125		02/28/21		58,512
	4,150,000	United States Treasury Note		2.000		07/31/22		4,281
	4,500,000	United States Treasury Note		1.750		09/30/22		4,570
	12,234,500	United States Treasury Note		1.625		11/15/22		12,330
	13,130,000	United States Treasury Note		1.750		01/31/23		13,316
	102,245,400	United States Treasury Note		1.625		02/15/26		100,811
		TOTAL U.S. TREASURY SECURITIES						355,296
		TOTAL GOVERNMENT BONDS						3,126,090
		(Cost $3,039,511)

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
STRUCTURED ASSETS - 3.3%
ASSET BACKED - 1.5%
$	6,697,323	g	Alterna Funding I LLC		1.639	%	02/15/21	$	6,635
			Series - 2014 1A (Class NOTE)
	512,673	i	Asset Backed Securities Corp Home Equity Loan Trust		0.635		07/25/35		510
			Series - 2005 HE7 (Class M2)
	4,965,277	i	Asset-Backed Pass-Through Certificates		1.036		01/25/35		4,792
			Series - 2004 R12 (Class M1)
	4,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.780		02/20/18		3,987
			Series - 2011 5A (Class C)
	4,000,000	g	Avis Budget Rental Car Funding AESOP LLC		4.720		02/20/18		4,054
			Series - 2011 5A (Class B)
	925,000	i	Basic Asset Backed Securities Trust		0.743		04/25/36		821
			Series - 2006 1 (Class A3)
	4,000,000	g	Capital Automotive REIT		3.660		10/15/44		4,138
			Series - 2014 1A (Class A)
	4,001,302	i	Chase Funding Loan Acquisition Trust		1.288		06/25/34		3,387
			Series - 2004 OPT1 (Class M1)
	4,923,071	i	Connecticut Avenue Securities		1.933		02/25/25		4,928
			Series - 2015 C01 (Class 1M1)
	5,940,000	g	DB Master Finance LLC		3.262		02/20/45		5,848
			Series - 2015 1A (Class A2I)
	1,715,000	g,i	DB/UBS Mortgage Trust		5.699		11/10/46		1,876
			Series - 2011 LC1A (Class C)
	913,093	g	Diamond Resorts Owner Trust		1.950		01/20/25		901
			Series - 2013 1 (Class A)
	7,746,957	g	Domino’s Pizza Master Issuer LLC		5.216		01/25/42		7,928
			Series - 2012 1A (Class A2)
	1,995,000	g	Domino’s Pizza Master Issuer LLC		3.484		10/25/45		1,919
			Series - 2015 1A (Class A2I)
	897,750	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		869
			Series - 2015 1A (Class A2II)
	19,290,485	g	HERO Funding Trust		3.840		09/21/40		18,940
			Series - 2015 1A (Class A)
	3,747,142	g	HERO Funding Trust		3.990		09/21/40		3,661
			Series - 2014 2A (Class A)
	7,412,650	g	HERO Funding Trust		4.050		09/20/41		7,412
			Series - 2016 1A (Class A)
	500,000	g	Hertz Vehicle Financing LLC		6.440		02/25/19		524
			Series - 2010 1A (Class B3)
	1,285,712	i	Lehman XS Trust		0.683		02/25/36		1,211
			Series - 2006 1 (Class 1A1)
	3,963,658	i	Lehman XS Trust		6.500		06/25/46		2,945
			Series - 2006 13 (Class 2A1)
	674,167	i	Park Place Securities, Inc Asset-Backed Pass-Through Certificates		1.213		01/25/36		670
			Series - 2005 WCH1 (Class M2)
	185,301	i	Residential Asset Mortgage Products, Inc (Step Bond)		5.470		09/25/33		191
			Series - 2003 RZ5 (Class A7)
	326,556	i	Residential Funding Mortgage Securities II, Inc (Step Bond)		6.010		02/25/36		327
			Series - 2006 HI1 (Class M1)
	200,000	i	Residential Funding Mortgage Securities II, Inc (Step Bond)		6.060		02/25/36		208
			Series - 2006 HI1 (Class M2)
	3,360,529		Santander Drive Auto Receivables Trust		1.760		01/15/19		3,366
			Series - 2013 1 (Class C)

360

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	800,000		Santander Drive Auto Receivables Trust		1.960	%	05/15/20	$	799
			Series - 2015 5 (Class B)
	800,000		Santander Drive Auto Receivables Trust		2.740		12/15/21		800
			Series - 2015 5 (Class C)
	264,331	i	Securitized Asset Backed Receivables LLC		0.733		10/25/35		263
			Series - 2006 OP1 (Class A2C)
	1,197,717	g	Sierra Receivables Funding Co LLC		3.420		03/20/29		1,196
			Series - 2012 2A (Class B)
	933,683	g	Sierra Receivables Funding Co LLC		1.590		11/20/29		920
			Series - 2013 1A (Class A)
	792,835	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		792
			Series - 2015 3A (Class A)
	1,189,253	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		1,187
			Series - 2015 3A (Class B)
	9,750,000	g	Solarcity Lmc		4.800		09/20/48		9,640
			Series - 2016 A (Class A)
	6,350,797	g	SolarCity LMC		4.590		04/20/44		6,249
			Series - 2014 1 (Class A)
	28,693,427	g	SolarCity LMC		4.020		07/20/44		27,442
			Series - 2014 2 (Class A)
	8,411	i	Soundview Home Equity Loan Trust		0.733		11/25/35		8
			Series - 2005 OPT3 (Class A4)
	8,760,682	g	SpringCastle America Funding LLC		2.700		05/25/23		8,725
			Series - 2014 AA (Class A)
	5,216,725	i	Structured Asset Securities Corp Mortgage Loan Trust		1.939		04/25/35		4,889
			Series - 2005 7XS (Class 2A1A)
	22,500,000		Toyota Auto Receivables Owner Trust		1.270		05/15/19		22,539
			Series - 2015 B (Class A3)
	22,500,000		Toyota Auto Receivables Owner Trust		1.740		09/15/20		22,704
			Series - 2015 B (Class A4)
	462,452	g,m	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		472
			Series - 2006 N1 (Class N1)
	512,933	g,i	Wachovia Loan Trust		0.793		05/25/35		499
			Series - 2005 SD1 (Class A)
	15,708	i	Wells Fargo Home Equity Trust		0.573		07/25/36		16
			Series - 2006 2 (Class A3)
	3,980,000	g	Wendys Funding LLC		3.371		06/15/45		3,907
			Series - 2015 1A (Class A2I)
			TOTAL ASSET BACKED						205,095
OTHER MORTGAGE BACKED - 1.8%
	1,800,000		Banc of America Commercial Mortgage Trust		5.480		10/10/45		1,764
			Series - 2006 6 (Class B)
	3,050,000	g	Banc of America Commercial Mortgage Trust		5.416		01/15/49		3,081
			Series - 2007 1 (Class AM)
	5,416,386	i	Banc of America Commercial Mortgage Trust		5.482		01/15/49		5,475
			Series - 2007 1 (Class AMFX)
	760,000	i	Banc of America Commercial Mortgage Trust		5.809		02/10/51		763
			Series - 2007 4 (Class AJ)
	10,250,000	g	BBCMS Trust		3.593		09/15/32		10,801
			Series - 2015 MSQ (Class A)
	6,000,000	g	BBCMS Trust		3.894		09/15/32		6,204
			Series - 2015 MSQ (Class B)

361

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,590,000	i	Bear Stearns Commercial Mortgage Securities		5.915	%	09/11/42	$	2,714
			Series - 2007 T28 (Class AJ)
	2,500,000	i	Bear Stearns Commercial Mortgage Securities		5.878		06/11/50		2,431
			Series - 2007 PW17 (Class AJ)
	1,225,000	i	Citigroup Commercial Mortgage Trust		5.975		03/15/49		1,219
			Series - 2006 C4 (Class AJ)
	2,575,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		2,648
			Series - 2007 C3 (Class AM)
	3,925,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		3,808
			Series - 2007 C3 (Class AJ)
	2,750,000	i	COBALT CMBS Commercial Mortgage Trust		5.526		04/15/47		2,832
			Series - 2007 C2 (Class AMFX)
	3,500,000	g,i	COMM Mortgage Trust		5.813		12/10/49		3,360
			Series - 2007 C9 (Class G)
	308,355	i	Commercial Mortgage Trust		5.238		04/10/37		308
			Series - 2005 GG5 (Class AJ)
	4,000,000	i	Commercial Mortgage Trust		5.796		12/10/49		4,038
			Series - 2007 C9 (Class B)
	6,317,426	i	Commercial Mortgage Trust		5.867		12/10/49		6,496
			Series - 2007 GG11 (Class AM)
	273,392		Countrywide Alternative Loan Trust		5.500		08/25/16		274
			Series - 2004 30CB (Class 1A15)
	2,775,000	i	Credit Suisse Commercial Mortgage Trust		5.903		09/15/39		2,645
			Series - 2007 C4 (Class A1AJ)
	6,000,000	i	Credit Suisse Commercial Mortgage Trust		5.949		09/15/39		5,742
			Series - 2007 C4 (Class AJ)
	1,500,000		Credit Suisse Commercial Mortgage Trust		5.343		12/15/39		1,518
			Series - 2006 C5 (Class AM)
	3,500,000	g	Credit Suisse Commercial Mortgage Trust		5.383		02/15/40		3,538
			Series - 2009 RR1 (Class A3C)
	8,450,000	i	Credit Suisse Commercial Mortgage Trust		5.625		01/15/49		8,214
			Series - 2007 C2 (Class AJ)
	2,000,000	g	Credit Suisse Mortgage Capital Certificates		5.626		05/15/23		2,159
			Series - 2006 OMA (Class D)
	500,000	i	GE Commercial Mortgage Corp		5.606		12/10/49		494
			Series - 2007 C1 (Class AM)
	3,660,000	i	GMAC Commercial Mortgage Securities, Inc		4.984		12/10/41		3,747
			Series - 2004 C3 (Class C)
	2,535,000	g,i	GS Mortgage Securities Corp II		5.185		12/10/43		2,809
			Series - 2010 C2 (Class B)
	688,781	i	Impac CMB Trust		1.093		03/25/35		630
			Series - 2004 11 (Class 2A1)
	3,780,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.911		07/15/42		3,775
			Series - 2005 LDP2 (Class C)
	3,025,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.321		07/15/46		3,181
			Series - 2011 C4 (Class C)
	4,946,913		JP Morgan Chase Commercial Mortgage Securities Trust		5.257		05/15/47		4,996
			Series - 2006 LDP9 (Class A1A)
	2,639,215	i	JP Morgan Chase Commercial Mortgage Securities Trust		6.192		02/15/51		2,753
			Series - 2007 LD12 (Class AM)
	1,500,000	i	LB-UBS Commercial Mortgage Trust		5.737		03/15/39		1,499
			Series - 2006 C3 (Class C)
	2,500,000		LB-UBS Commercial Mortgage Trust		5.484		02/15/40		2,495
			Series - 2007 C1 (Class AJ)

362

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	700,000	i	LB-UBS Commercial Mortgage Trust		5.533	%	02/15/40	$	696
			Series - 2007 C1 (Class C)
	3,390,000	i	LB-UBS Commercial Mortgage Trust		5.563		02/15/40		3,324
			Series - 2007 C1 (Class D)
	750,000	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		777
			Series - 2007 C6 (Class AM)
	7,750,546	g,i	LVII Resecuritization Trust		3.239		07/31/47		7,746
			Series - 2015 A (Class A)
	645,000	i	Merrill Lynch Mortgage Trust		6.267		02/12/51		678
			Series - 0 C1 (Class AJA)
	2,750,000	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		2,768
			Series - 2007 6 (Class AM)
	12,000,000	g	Morgan Stanley Capital I Trust		3.350		07/13/29		12,603
			Series - 2014 CPT (Class A)
	855,000	g,i	Morgan Stanley Capital I Trust		5.891		08/12/41		864
			Series - 2006 T23 (Class B)
	3,000,000	i	Morgan Stanley Capital I Trust		5.389		11/12/41		2,959
			Series - 2006 HQ10 (Class AJ)
	2,111,000	i	Morgan Stanley Capital I Trust		5.834		10/15/42		2,106
			Series - 2006 IQ11 (Class AJ)
	710,000	g,i	Morgan Stanley Capital I Trust		5.440		09/15/47		740
			Series - 2011 C1 (Class D)
	6,000,000	i	Morgan Stanley Capital I Trust		5.861		04/12/49		5,958
			Series - 2007 HQ12 (Class C)
	9,500,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		9,859
			Series - 2007 IQ15 (Class AM)
	1,600,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		1,484
			Series - 2007 IQ15 (Class AJ)
	4,000,000	i	Morgan Stanley Capital I Trust		6.096		12/12/49		3,662
			Series - 2007 IQ16 (Class AJFX)
	17,385,000	g	OBP Depositor LLC Trust		4.646		07/15/45		19,240
			Series - 2010 OBP (Class A)
	1,372,658	i	Structured Agency Credit Risk Debt Note (STACR)		1.683		01/25/25		1,372
			Series - 2015 DN1 (Class M1)
	7,375,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.833		01/25/25		7,469
			Series - 2015 DN1 (Class M2)
	10,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.633		03/25/25		10,033
			Series - 2015 HQ1 (Class M2)
	750,000	i	Structured Agency Credit Risk Debt Note (STACR)		4.233		03/25/25		715
			Series - 2015 HQ1 (Class M3)
	5,000,000	g,i	Wachovia Bank Commercial Mortgage Trust		0.641		12/15/43		4,735
			Series - 2007 C30 (Class AMFL)
	4,585,000		Wachovia Bank Commercial Mortgage Trust		5.383		12/15/43		4,668
			Series - 2007 C30 (Class AM)
	890,000	i	Wachovia Bank Commercial Mortgage Trust		5.818		05/15/46		927
			Series - 2007 C34 (Class AM)
	1,700,000	i	Wachovia Bank Commercial Mortgage Trust		5.945		05/15/46		1,688
			Series - 2007 C34 (Class AJ)
	1,975,000	i	Wachovia Bank Commercial Mortgage Trust		5.591		04/15/47		2,025
			Series - 2007 C31 (Class AM)
	700,000	i	Wachovia Bank Commercial Mortgage Trust		5.622		04/15/47		675
			Series - 2007 C31 (Class C)

363

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,500,000	i	Wachovia Bank Commercial Mortgage Trust		5.660	%	04/15/47	$	1,485
			Series - 2007 C31 (Class AJ)
	1,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.700		04/15/47		979
			Series - 2007 C31 (Class B)
	4,000,000	g	Wachovia Bank Commercial Mortgage Trust		5.703		06/15/49		4,090
			Series - 2007 C32 (Class AMFX)
	875,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		830
			Series - 2007 C32 (Class B)
	12,830,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		12,254
			Series - 2007 C32 (Class AJ)
	510,000	i	Wachovia Bank Commercial Mortgage Trust		5.953		02/15/51		527
			Series - 2007 C33 (Class AM)
	5,865,922	i	WaMu Mortgage Pass-Through Certificates		0.863		10/25/45		5,046
			Series - 2005 AR13 (Class A1B2)
	2,108,024	i	WaMu Mortgage Pass-Through Certificates		0.783		12/25/45		1,812
			Series - 2005 AR19 (Class A1B3)
			TOTAL OTHER MORTGAGE BACKED						245,205
			TOTAL STRUCTURED ASSETS						450,300
			(Cost $455,911)
			TOTAL BONDS						5,053,849
			(Cost $4,950,666)
SHARES			COMPANY
COMMON STOCKS - 60.8%
AUTOMOBILES & COMPONENTS - 1.7%
	52,700		Aisin Seiki Co Ltd						1,984
	161,508		Bayerische Motoren Werke AG.						14,827
	58,860		Bayerische Motoren Werke AG. (Preference)						4,699
	329		BorgWarner, Inc						13
	2,283		Delphi Automotive plc						171
	280,382		Denso Corp						11,255
	2,464,687		Ford Motor Co						33,273
	315,803		Fuji Heavy Industries Ltd						11,152
	1,320,699		GKN plc						5,468
	234,290	e	Harley-Davidson, Inc						12,026
	606,980		Honda Motor Co Ltd						16,596
	682,420		Johnson Controls, Inc						26,594
	265,667		Magna International, Inc (Class A)						11,420
	460,400		Mazda Motor Corp						7,146
	118,900		Mitsubishi Motors Corp						888
	59,514	*	Modine Manufacturing Co						655
	1,360,700		Nissan Motor Co Ltd						12,580
	36,950		Renault S.A.						3,672
	277,400		Sumitomo Electric Industries Ltd						3,364
	109,900		Sumitomo Rubber Industries, Inc						1,698
	103,927	*,e	Tesla Motors, Inc						23,879
	106,200		Toyota Industries Corp						4,770
	96,100		Yamaha Motor Co Ltd						1,597
			TOTAL AUTOMOBILES & COMPONENTS						209,727

364

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
BANKS - 3.8%
	4,098		1st Source Corp	$	130
	31,410		Ameris Bancorp		929
	28,887		Apollo Residential Mortgage		388
	1,164		Arrow Financial Corp		31
	51,058		Associated Banc-Corp		916
	4,424		Astoria Financial Corp		70
	994,722		Australia & New Zealand Banking Group Ltd		17,832
	5,061,924		Banca Intesa S.p.A.		13,996
	847,234		Banca Intesa S.p.A. RSP		2,199
	1,923		Bancfirst Corp		110
	2,177,567		Banco Bilbao Vizcaya Argentaria S.A.		14,379
	1,001,914		Bank Hapoalim Ltd		5,201
	38,983		Bank Mutual Corp		295
	25,289	e	Bank of Hawaii Corp		1,727
	96,962	*	Bank of Montreal		5,888
	305,383	e	Bank of Nova Scotia		14,924
	3,264		Bank of the Ozarks, Inc		137
	14,955		Banner Corp		629
	886,807		BB&T Corp		29,504
	41,699		BBCN Bancorp, Inc		633
	326		Bendigo Bank Ltd		2
	14,612	*	Beneficial Bancorp, Inc		200
	27,135		Berkshire Hills Bancorp, Inc		730
	12,850	e	BOK Financial Corp		702
	74,865		Boston Private Financial Holdings, Inc		857
	21,641		Brookline Bancorp, Inc		238
	12,200		Bryn Mawr Bank Corp		314
	101,580		CaixaBank S.A.		299
	1,612	*,m	CaixaBank S.A. (Interim)		5
	6,728		Camden National Corp		283
	5,386	e	Canadian Imperial Bank of Commerce/Canada		402
	28,343		Capital Bank Financial Corp		874
	7,221		Capitol Federal Financial		96
	19,267		Cardinal Financial Corp		392
	3,360		Cathay General Bancorp		95
	44,349		Centerstate Banks of Florida, Inc		660
	9,720		Chemical Financial Corp		347
	134,058		CIT Group, Inc		4,160
	5,423		City Holding Co		259
	17,464		CoBiz, Inc		206
	2,120		Columbia Banking System, Inc		63
	164,058		Comerica, Inc		6,213
	64,211		Commerce Bancshares, Inc		2,886
	472,478		Commonwealth Bank of Australia		27,087
	3,936		Community Bank System, Inc		150
	3,149		Community Trust Bancorp, Inc		111
	9,127	e	Cullen/Frost Bankers, Inc		503
	46,680	*	Customers Bancorp, Inc		1,103
	331,500		DBS Group Holdings Ltd		3,776
	66,896		DNB NOR Holding ASA		790

365

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	10,051		East West Bancorp, Inc	$	326
	49,985	*	FCB Financial Holdings, Inc		1,663
	14,531		Federal Agricultural Mortgage Corp (Class C)		548
	5,021		First Bancorp (NC)		95
	451		First Citizens Bancshares, Inc (Class A)		113
	106,588		First Commonwealth Financial Corp		944
	2,793		First Community Bancshares, Inc		55
	6,726		First Financial Bancorp		122
	26,945	e	First Financial Bankshares, Inc		797
	24,484		First Interstate Bancsystem, Inc		689
	28,002		First Merchants Corp		660
	235,971		First Niagara Financial Group, Inc		2,284
	15,305		Flushing Financial Corp		331
	16,186		FNB Corp		211
	2,590		Glacier Bancorp, Inc		66
	8,088		Great Southern Bancorp, Inc		300
	5,441		Hancock Holding Co		125
	573,600		Hang Seng Bank Ltd		10,149
	18,958		Heartland Financial USA, Inc		584
	23,893		Heritage Financial Corp		420
	16,335	*	HomeStreet, Inc		340
	25,514	*	HomeTrust Bancshares, Inc		468
	4,850,882		HSBC Holdings plc		30,167
	9,593		IBERIABANK Corp		492
	16,736		Independent Bank Corp (MA)		769
	1,147		International Bancshares Corp		28
	142,650		Investors Bancorp, Inc		1,660
	205,232		KBC Groep NV		10,569
	1,087,506		Keycorp		12,006
	21,058		Lakeland Bancorp, Inc		214
	9,083		Lakeland Financial Corp		416
	170,095		M&T Bank Corp		18,881
	1,800		MB Financial, Inc		58
	61,360	*	MGIC Investment Corp		471
	597,000		Mitsui Trust Holdings, Inc		1,748
	6,730,000		Mizuho Financial Group, Inc		10,030
	908,308		National Australia Bank Ltd		18,238
	44,990		National Bank Holdings Corp		917
	68,401	e	National Penn Bancshares, Inc		728
	996,789		Natixis		4,900
	13,443		NBT Bancorp, Inc		362
	145,456		New York Community Bancorp, Inc		2,313
	1,196,417		Nordea Bank AB		11,476
	29,783		Northfield Bancorp, Inc		490
	57,600	e	OFG Bancorp		403
	19,938		Old National Bancorp		243
	12,392		Opus Bank		421
	22,911		PacWest Bancorp		851
	13,331		Peoples Bancorp, Inc		261
	2,728	e	People’s United Financial, Inc		43
	22,527	*	PHH Corp		283
	7,054		Pinnacle Financial Partners, Inc		346

366

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	405,601		PNC Financial Services Group, Inc	$	34,302
	130,498		Popular, Inc		3,734
	20,422		PrivateBancorp, Inc		788
	53,363		Provident Financial Services, Inc		1,077
	244,880		Radian Group, Inc		3,037
	12,261		Renasant Corp		404
	155,400		Resona Holdings, Inc		554
	283,300		Royal Bank of Canada		16,323
	8,068		S&T Bancorp, Inc		208
	183,355		Skandinaviska Enskilda Banken AB (Class A)		1,749
	21,968		Southside Bancshares, Inc		573
	1,762,146	*	Standard Chartered plc		11,917
	18,394		State Bank & Trust Co		363
	6,037		Stock Yards Bancorp, Inc		233
	488,800		Sumitomo Mitsui Financial Group, Inc		14,839
	28,454	*	SVB Financial Group		2,904
	125,439		Swedbank AB (A Shares)		2,694
	800	*	Texas Capital Bancshares, Inc		31
	12,553		TFS Financial Corp		218
	41,386	*	The Bancorp, Inc		237
	557,231	e	Toronto-Dominion Bank		24,053
	11,306	e	TowneBank		217
	10,551		Trico Bancshares		267
	4,770	*	Tristate Capital Holdings, Inc		60
	1,700		Trustmark Corp		39
	9,733		UMB Financial Corp		503
	35,151		Umpqua Holdings Corp		558
	14,643		Union Bankshares Corp		361
	10,908	e	United Bankshares, Inc		400
	21,383		United Financial Bancorp, Inc (New)		269
	8,965		Univest Corp of Pennsylvania		175
	992,937		US Bancorp		40,303
	32,554	*	Walker & Dunlop, Inc		790
	37,869	*,e	Walter Investment Management Corp		289
	3,203		Washington Trust Bancorp, Inc		120
	13,956		Webster Financial Corp		501
	9,371		WesBanco, Inc		278
	14,035	e	Westamerica Bancorporation		684
	50,433	*	Western Alliance Bancorp		1,683
	979,722		Westpac Banking Corp		22,756
	63,519		Wilshire Bancorp, Inc		654
	1,110		Wintrust Financial Corp		49
	5,244		WSFS Financial Corp		171
	37,356		Zions Bancorporation		904
			TOTAL BANKS		507,064
CAPITAL GOODS - 3.9%
	331,945		3M Co		55,312
	6,541		A.O. Smith Corp		499
	9,110	e	Advanced Drainage Systems, Inc		194
	75,930		Alfa Laval AB		1,240
	1,796	e	American Science & Engineering, Inc		50

367

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	310,304		Ametek, Inc	$	15,509
	11,670		Argan, Inc		410
	368,000		Asahi Glass Co Ltd		2,014
	137,861		Assa Abloy AB		2,714
	229,419		Atlas Copco AB (A Shares)		5,758
	242,593		Atlas Copco AB (B Shares)		5,709
	102,199		Barnes Group, Inc		3,580
	2,120	*	Beacon Roofing Supply, Inc		87
	107,493		Bouygues S.A.		4,370
	29,997		Briggs & Stratton Corp		718
	116,374	*	Builders FirstSource, Inc		1,312
	177,259		Bunzl plc		5,142
	235,563		Caterpillar, Inc		18,030
	818		Chicago Bridge & Iron Co NV		30
	845,516		CNH Industrial NV		5,740
	295,435		Compagnie de Saint-Gobain		12,977
	196,231		Cummins, Inc		21,574
	47,600		Daikin Industries Ltd		3,555
	428,149		Danaher Corp		40,614
	179,986	e	Deere & Co		13,857
	7,468		Dover Corp		480
	343,966		Eaton Corp		21,519
	4,941		EMCOR Group, Inc		240
	19,159	*	Esterline Technologies Corp		1,228
	152,130	e	Fastenal Co		7,454
	77,768		Ferrovial S.A.		1,669
	215		Flowserve Corp		10
	558		Fluor Corp		30
	21,626		GEA Group AG.		1,055
	21,073		Geberit AG.		7,874
	20,413		H&E Equipment Services, Inc		358
	62,217		Hexcel Corp		2,719
	164,600		Hino Motors Ltd		1,779
	83,600	e	Hitachi Construction Machinery Co Ltd		1,327
	362,478		Illinois Tool Works, Inc		37,132
	134,981		Ingersoll-Rand plc		8,370
	500	*	Jacobs Engineering Group, Inc		22
	96,000	e	Kawasaki Heavy Industries Ltd		277
	1,269,870	e	Keppel Corp Ltd		5,490
	26,450	*,e	KEYW Holding Corp		176
	478,400		Komatsu Ltd		8,133
	366,572		Koninklijke Philips Electronics NV		10,441
	374,000		Kubota Corp		5,105
	25,552		Legrand S.A.		1,428
	676		Lincoln Electric Holdings, Inc		40
	438,365		Masco Corp		13,787
	121,857		Meggitt plc		710
	44,954	*	Meritor, Inc		362
	1,101	*	Middleby Corp		118
	731,400		Mitsubishi Corp		12,376
	794,000		Mitsubishi Electric Corp		8,319
	6,490	*	MYR Group, Inc		163

368

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	83,000		NGK Insulators Ltd	$	1,532
	56,464		Nordson Corp		4,294
	95,100		NSK Ltd		870
	150,887		Owens Corning, Inc		7,134
	287,650		Paccar, Inc		15,732
	35,585		Parker Hannifin Corp		3,953
	105,679		Pentair plc		5,734
	127,194	*,e	Plug Power, Inc		261
	76,969	*	Quanta Services, Inc		1,736
	186,394		Rexel S.A.		2,657
	30,501		Rockwell Automation, Inc		3,469
	55,321		Rockwell Collins, Inc		5,101
	36,922		Roper Industries, Inc		6,748
	9,907	*	Rush Enterprises, Inc (Class A)		181
	238,948		Sandvik AB		2,468
	242,767		Schneider Electric S.A.		15,299
	84,000		Shimizu Corp		711
	43,110		Skanska AB (B Shares)		983
	42,500	e	SKF AB (B Shares)		766
	164,030		Smiths Group plc		2,529
	153		Snap-On, Inc		24
	22,131		Sulzer AG.		2,195
	999,400		Sumitomo Corp		9,917
	5,435		TAL International Group, Inc		84
	8,464		Tennant Co		436
	8,405	*,e	Titan Machinery, Inc		97
	72,400		Toyota Tsusho Corp		1,634
	45,231		Travis Perkins plc		1,185
	18,214	*	United Rentals, Inc		1,133
	7,724	*	Veritiv Corp		288
	95,420		Vestas Wind Systems AS		6,723
	211,711		Vinci S.A.		15,714
	1,013,199	e	Volvo AB (B Shares)		11,097
	260	e	W.W. Grainger, Inc		61
	15,766	*	Wabash National Corp		208
	70,068		Wartsila Oyj (B Shares)		3,167
	121,923		Wolseley plc		6,882
	20,710		Woodward Governor Co		1,077
			TOTAL CAPITAL GOODS		525,266
COMMERCIAL & PROFESSIONAL SERVICES - 0.6%
	2,604		ABM Industries, Inc		84
	52,489		Acacia Research (Acacia Technologies)		199
	203,949	*	ACCO Brands Corp		1,832
	1,518		ADT Corp		63
	192,208		Aggreko plc		2,968
	286,832		Brambles Ltd		2,657
	37,237		Bureau Veritas S.A.		828
	269,660		Capita Group plc		4,026
	9,841		CEB, Inc		637
	117,294	*	Copart, Inc		4,782
	55,000		Dai Nippon Printing Co Ltd		488

369

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	24,020		Deluxe Corp	$	1,501
	68,161		Dun & Bradstreet Corp		7,026
	107,898		Equifax, Inc		12,332
	21,199		Exponent, Inc		1,081
	2,000		Heidrick & Struggles International, Inc		47
	2,948	*	ICF International, Inc		101
	9,308	*	IHS, Inc (Class A)		1,156
	17,437		Insperity, Inc		902
	77,051		Intertek Group plc		3,499
	4,335		Kelly Services, Inc (Class A)		83
	5,113		Kforce, Inc		100
	30,322		Manpower, Inc		2,469
	11,581	*	Mistras Group, Inc		287
	2,100		Mobile Mini, Inc		69
	43,417	*	Navigant Consulting, Inc		686
	1,000	*	On Assignment, Inc		37
	109,843		R.R. Donnelley & Sons Co		1,801
	15,053		Resources Connection, Inc		234
	154,881		Robert Half International, Inc		7,214
	16,303	*	RPX Corp		184
	56,100		Secom Co Ltd		4,163
	4,679		SGS S.A.		9,880
	1,544	*	SP Plus Corp		37
	8,899	*	Team, Inc		270
	27,563		Tetra Tech, Inc		822
	113,000		Toppan Printing Co Ltd		947
	3,462		Tyco International plc		127
	18,776		Viad Corp		548
	21,774		Waste Management, Inc		1,285
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		77,452
CONSUMER DURABLES & APPAREL - 1.1%
	118,125		Adidas-Salomon AG.		13,792
	407,529		Barratt Developments plc		3,272
	287,177		Burberry Group plc		5,614
	87,628		Callaway Golf Co		799
	47,248		Christian Dior S.A.		8,556
	1,447		CSS Industries, Inc		40
	24,000		Electrolux AB (Series B)		630
	21,476	e	Ethan Allen Interiors, Inc		683
	23,400		Gildan Activewear, Inc		714
	29,168		Hanesbrands, Inc		827
	536		Hasbro, Inc		43
	102,799	*	Kate Spade & Co		2,623
	1,061,800		Matsushita Electric Industrial Co Ltd		9,617
	433,141		Mattel, Inc		14,562
	36,199	*	Meritage Homes Corp		1,320
	362	*	Michael Kors Holdings Ltd		21
	10,272	*	Mohawk Industries, Inc		1,961
	20,763		Movado Group, Inc		572
	607	e	Newell Rubbermaid, Inc		27
	752,924		Nike, Inc (Class B)		46,282

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	73,900	e	Nikon Corp	$	1,130
	28,027		Pandora AS		3,664
	50,000		Sekisui Chemical Co Ltd		616
	98,400		Sekisui House Ltd		1,660
	379,500		Sony Corp		9,757
	762,926		Taylor Wimpey plc		2,079
	51,260	*	Under Armour, Inc (Class A)		4,348
	19,426	*	Unifi, Inc		445
	138,658		VF Corp		8,980
	680		Whirlpool Corp		123
	695,000		Yue Yuen Industrial Holdings		2,389
			TOTAL CONSUMER DURABLES & APPAREL		147,146
CONSUMER SERVICES - 1.6%
	197,867		Accor S.A.		8,370
	7,799	*	Ascent Media Corp (Series A)		116
	1,289		Bob Evans Farms, Inc		60
	25,421		Brinker International, Inc		1,168
	67,510		Choice Hotels International, Inc		3,649
	90,565		Darden Restaurants, Inc		6,005
	1,346		DineEquity, Inc		126
	42,146		Domino’s Pizza, Inc		5,557
	7,832		Dunkin Brands Group, Inc		369
	5,999		Hilton Worldwide Holdings, Inc		135
	219,739		InterContinental Hotels Group plc		9,041
	10,177	*	Intrawest Resorts Holdings Inc		87
	6,202		Marcus Corp		118
	290,043	e	Marriott International, Inc (Class A)		20,645
	451,410		McDonald’s Corp		56,733
	444,298	*	MGM Resorts International		9,526
	52,700	e	Oriental Land Co Ltd		3,731
	26,295	*	Popeyes Louisiana Kitchen, Inc		1,369
	36,382		Royal Caribbean Cruises Ltd		2,989
	118,640	*	Ruby Tuesday, Inc		638
	95,145	*	ServiceMaster Global Holdings, Inc		3,585
	29,578		Sonic Corp		1,040
	794,709		Starbucks Corp		47,444
	89,029		Starwood Hotels & Resorts Worldwide, Inc		7,428
	307,463		TUI AG. (DI)		4,756
	169,591		Whitbread plc		9,627
	745,304		William Hill plc		3,487
	461		Wyndham Worldwide Corp		35
			TOTAL CONSUMER SERVICES		207,834
DIVERSIFIED FINANCIALS - 3.0%
	877,251		3i Group plc		5,736
	858,335		Aberdeen Asset Management plc		3,407
	93,100		AEON Financial Service Co Ltd		2,192
	30,126	*	Ally Financial, Inc		564
	513,353		American Express Co		31,520
	1,494		Ameriprise Financial, Inc		140
	909,353		Bank of New York Mellon Corp		33,491

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	106,775		BlackRock, Inc	$	36,364
	1,072,049		Charles Schwab Corp		30,039
	308,966		CME Group, Inc		29,676
	10,439	*,e	Credit Acceptance Corp		1,895
	131,991		Deutsche Boerse AG.		11,238
	567,210		Discover Financial Services		28,882
	28,426	*	Eurazeo		1,920
	129,434		Exor S.p.A.		4,631
	6,214		Factset Research Systems, Inc		942
	366,118		Franklin Resources, Inc		14,297
	41,363	*,e	Green Dot Corp		950
	580,495		Hong Kong Exchanges and Clearing Ltd		13,988
	103,529		Industrivarden AB		1,762
	1,319,590		ING Groep NV		15,791
	116,538		IntercontinentalExchange Group, Inc		27,403
	327,192		Invesco Ltd		10,068
	790,188		Investec plc		5,796
	35,326		Investment Technology Group, Inc		781
	58,141		Kinnevik Investment AB (Series B)		1,647
	54,861		Legg Mason, Inc		1,903
	265,518		London Stock Exchange Group plc		10,726
	440,100		Mitsubishi UFJ Lease & Finance Co Ltd		1,930
	76,409		NASDAQ OMX Group, Inc		5,072
	16,056		Nelnet, Inc (Class A)		632
	418,824		Northern Trust Corp		27,295
	5,879	*	Pico Holdings, Inc		60
	10,635	*	Safeguard Scientifics, Inc		141
	116,083		Schroders plc		4,463
	467		SEI Investments Co		20
	421,536		State Street Corp		24,668
	130,961		T Rowe Price Group, Inc		9,620
	4,056		TD Ameritrade Holding Corp		128
	1,664		Voya Financial, Inc		50
	24,912		Wendel		2,709
	104,555	e	WisdomTree Investments, Inc		1,195
			TOTAL DIVERSIFIED FINANCIALS		405,732
ENERGY - 3.7%
	137,043	e	AltaGas Income Trust		3,524
	646	*	Antero Resources Corp		16
	300,897		Apache Corp		14,687
	78,800	e	ARC Resources Ltd		1,146
	17,093	e	Atwood Oceanics, Inc		157
	263,749		Baker Hughes, Inc		11,560
	85,409	*	Callon Petroleum Co		756
	254,636		Caltex Australia Ltd		6,641
	129,480	*	Cameron International Corp		8,682
	3,077	e	CARBO Ceramics, Inc		44
	756,836		Cenovus Energy, Inc (Toronto)		9,848
	245,497	*,e	Cheniere Energy, Inc		8,305
	61,417		Cimarex Energy Co		5,974
	92,211	*,e	Clean Energy Fuels Corp		270

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	417,653		Columbia Pipeline Group, Inc	$	10,483
	30,233	*	Concho Resources, Inc		3,055
	275,520		ConocoPhillips		11,095
	255,515	*,e	Continental Resources, Inc		7,757
	435,825	e	Crescent Point Energy Corp		6,034
	7,175		Delek Group Ltd		1,232
	2,500		Delek US Holdings, Inc		38
	439,969		Devon Energy Corp		12,073
	396,381	e	Enbridge, Inc		15,431
	780,831	e	EnCana Corp		4,762
	2,011		Energen Corp		74
	442,537		EOG Resources, Inc		32,119
	42,434		EQT Corp		2,854
	398,930		Galp Energia SGPS S.A.		5,009
	18,384	*,e	Geospace Technologies Corp		227
	16,052		Green Plains Renewable Energy, Inc		256
	307,225		Hess Corp		16,175
	315,600		Inpex Holdings, Inc		2,390
	161,289	e	Keyera Corp		4,896
	583,545		Kinder Morgan, Inc		10,422
	65,671		Koninklijke Vopak NV		3,266
	514,987		Marathon Oil Corp		5,737
	458,339		Marathon Petroleum Corp		17,041
	21,626	*	Matrix Service Co		383
	308,654	*,e	McDermott International, Inc		1,262
	419,013	e	National Oilwell Varco, Inc		13,031
	10,984	*	Natural Gas Services Group, Inc		238
	174,129	e	Neste Oil Oyj		5,722
	232,452		Noble Energy, Inc		7,301
	492,702	*	Occidental Petroleum Corp		33,716
	225,695		OMV AG.		6,337
	155,731	e	Oneok, Inc		4,650
	39,397	*	PDC Energy, Inc		2,342
	234,611		Petrofac Ltd		3,096
	414,084		Phillips 66		35,856
	136,604		Pioneer Natural Resources Co		19,226
	929,390		Repsol YPF S.A.		10,450
	7,692	*	RigNet, Inc		105
	143,626		Schlumberger Ltd		10,592
	894	*,e	SEACOR Holdings, Inc		49
	20,773	e	SM Energy Co		389
	856,388		Spectra Energy Corp		26,206
	757,246	e	Statoil ASA		11,827
	629,023		Suncor Energy, Inc		17,518
	88,722		Superior Energy Services		1,188
	25,730		Technip S.A.		1,426
	115,564		Tenaris S.A.		1,434
	16,079		Tesco Corp		138
	9,750		Tesoro Corp		839
	83,049	*	Tetra Technologies, Inc		527
	27,062	*,e	Unit Corp		238
	165,865		Valero Energy Corp		10,639

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	493,407	*	Weatherford International Ltd	$	3,839
	91,978	e	Western Refining, Inc		2,676
	447,571		Williams Cos, Inc		7,192
	416,562		Woodside Petroleum Ltd		8,333
			TOTAL ENERGY		492,801
FOOD & STAPLES RETAILING - 1.0%
	179,300		Aeon Co Ltd		2,590
	283,858		Carrefour S.A.		7,798
	53,305	e	Casino Guichard Perrachon S.A.		3,051
	46,214		Colruyt S.A.		2,687
	55,107		Delhaize Group		5,743
	558,408	e	J Sainsbury plc		2,213
	59,300		Jeronimo Martins SGPS S.A.		969
	56,260		Koninklijke Ahold NV		1,264
	744,261		Kroger Co		28,468
	85,325		Loblaw Cos Ltd		4,778
	117,011	e	Metro AG.		3,620
	5,869	*,e	Natural Grocers by Vitamin C		125
	159,500		Seven & I Holdings Co Ltd		6,796
	9,498		Spartan Stores, Inc		288
	749,786		Sysco Corp		35,037
	4,275,196	*	Tesco plc		11,742
	347,886		Wesfarmers Ltd		11,042
	101,704		Whole Foods Market, Inc		3,164
	933,215	e	WM Morrison Supermarkets plc		2,658
			TOTAL FOOD & STAPLES RETAILING		134,033
FOOD, BEVERAGE & TOBACCO - 2.6%
	402,000		Ajinomoto Co, Inc		9,064
	112,409		Aryzta AG.		4,645
	246,744		Associated British Foods plc		11,838
	29,826		Bunge Ltd		1,690
	13,259		Calavo Growers, Inc		757
	225,588		Campbell Soup Co		14,390
	531,423		Coca-Cola Amatil Ltd		3,599
	2,943		Coca-Cola Enterprises, Inc		149
	188,157		Coca-Cola HBC AG.		3,990
	133,964		ConAgra Foods, Inc		5,978
	19,775	*	Darling International, Inc		260
	142,224		Dr Pepper Snapple Group, Inc		12,718
	14,539		Flowers Foods, Inc		268
	5,006		Fresh Del Monte Produce, Inc		211
	589,825		General Mills, Inc		37,365
	233,378		Groupe Danone		16,559
	265,634		Hormel Foods Corp		11,486
	1,780		J.M. Smucker Co		231
	323,360		Kellogg Co		24,753
	102,272		Kerry Group plc (Class A)		9,511
	138,000	e	Kikkoman Corp		4,530
	419,210		Kraft Heinz Co		32,933
	1,163		Lindt & Spruengli AG.		7,206

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	97		Lindt & Spruengli AG. (Registered)	$	7,256
	1,461		McCormick & Co, Inc		145
	75,316		Mead Johnson Nutrition Co		6,400
	984,215		Mondelez International, Inc		39,487
	41,500		Nissin Food Products Co Ltd		1,949
	424,084		Orkla ASA		3,836
	627,323		PepsiCo, Inc		64,288
	131,100		Suntory Beverage & Food Ltd		5,898
	432,815		Tate & Lyle plc		3,587
	57,000		Toyo Suisan Kaisha Ltd		2,046
	2,039	*	WhiteWave Foods Co (Class A)		83
	82,200	e	Yakult Honsha Co Ltd		3,637
			TOTAL FOOD, BEVERAGE & TOBACCO		352,743
HEALTH CARE EQUIPMENT & SERVICES - 2.3%
	14,105		Abaxis, Inc		640
	54,121	*	Acadia Healthcare Co, Inc		2,983
	5,828		Aceto Corp		137
	61,900	*	Alere, Inc		3,133
	18,400		Alfresa Holdings Corp		353
	8,037	*	Align Technology, Inc		584
	70,322	*	Amedisys, Inc		3,399
	234,730		AmerisourceBergen Corp		20,316
	42,802	*	AMN Healthcare Services, Inc		1,439
	14,038	*	Amsurg Corp		1,047
	8,741		Analogic Corp		691
	21,695	*	Angiodynamics, Inc		267
	214,065		Anthem, Inc		29,753
	33,318	*,e	athenahealth, Inc		4,624
	12,617	*,e	AtriCure, Inc		212
	221,594		Becton Dickinson & Co		33,642
	38,727	*	Brookdale Senior Living, Inc		615
	19,911	*	Capital Senior Living Corp		369
	371,930		Cardinal Health, Inc		30,480
	141,676	*	Centene Corp		8,723
	203,334	*	Cerner Corp		10,769
	123,596	*,e	Cerus Corp		733
	4,495		Chemed Corp		609
	208,817		Cigna Corp		28,658
	80,658		Coloplast AS		6,104
	10,556	e	Computer Programs & Systems, Inc		550
	6,502	*	Corvel Corp		256
	7,258		DENTSPLY SIRONA, Inc		447
	196,101	*	Edwards Lifesciences Corp		17,298
	928	*	Envision Healthcare Holdings, Inc		19
	107,358		Essilor International S.A.		13,228
	41,904	*	ExamWorks Group, Inc		1,239
	36,895	*,e	GenMark Diagnostics, Inc		194
	6,176	*	Greatbatch, Inc		220
	4,374	*	Haemonetics Corp		153
	1,607,724		Healthscope Ltd		3,271
	5,292	*	HealthStream, Inc		117

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	4,669	*	Healthways, Inc	$	47
	23,938	*	Henry Schein, Inc		4,132
	10,561	*	HMS Holdings Corp		152
	79,296	*	Hologic, Inc		2,736
	136,156		Humana, Inc		24,910
	62,766	*	Idexx Laboratories, Inc		4,916
	1,970	*	Laboratory Corp of America Holdings		231
	7,496		Landauer, Inc		248
	35,057	*,e	LDR Holding Corp		894
	14,973	*	LHC Group, Inc		532
	56,692	*	LifePoint Hospitals, Inc		3,926
	1,474	*	Medidata Solutions, Inc		57
	37,285	*	Merit Medical Systems, Inc		689
	38,680	*	Molina Healthcare, Inc		2,494
	29,647	*	Natus Medical, Inc		1,139
	43,949	*	NxStage Medical, Inc		659
	35,374	*	Omnicell, Inc		986
	63,605	*	OraSure Technologies, Inc		460
	2,718		Owens & Minor, Inc		110
	86,208		Patterson Cos, Inc		4,011
	37,377	*	PharMerica Corp		826
	9,453	*	Premier, Inc		315
	13,346	*	Providence Service Corp		682
	44,964		Quality Systems, Inc		685
	19,707	*	Quidel Corp		340
	131,737		Ramsay Health Care Ltd		6,185
	1,152		Resmed, Inc		67
	262,116		Ryman Healthcare Ltd		1,513
	78,658		Select Medical Holdings Corp		929
	3,035	*,e	Spectranetics Corp		44
	44,483	*,e	Staar Surgical Co		329
	9,158	*	Surgical Care Affiliates, Inc		424
	39,900		Suzuken Co Ltd		1,354
	96,000		Sysmex Corp		6,002
	16,542	*	Triple-S Management Corp (Class B)		411
	25,547		Universal American Corp		182
	14,275		US Physical Therapy, Inc		710
	500	*	Varian Medical Systems, Inc		40
	15,165	*	Vascular Solutions, Inc		493
	4,049	*	VCA Antech, Inc		234
	33,652	*	Vocera Communications, Inc		429
	11,103	*	Wright Medical Group NV		184
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		302,979
HOUSEHOLD & PERSONAL PRODUCTS - 1.8%
	572,038		Colgate-Palmolive Co		40,415
	121,560		Estee Lauder Cos (Class A)		11,464
	10,281		Henkel KGaA		1,008
	52,361		Henkel KGaA (Preference)		5,760
	41,500		Kao Corp		2,213
	168,281		Kimberly-Clark Corp		22,635
	82,398		L’Oreal S.A.		14,740

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	29,646		Medifast, Inc	$	895
	1,005,172		Procter & Gamble Co		82,736
	181,363		Reckitt Benckiser Group plc		17,494
	14,496		Svenska Cellulosa AB (B Shares)		452
	423,636		Unilever NV		19,046
	385,916		Unilever plc		17,402
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		236,260
INSURANCE - 3.5%
	1,165,505		Aegon NV		6,405
	510,081		Aflac, Inc		32,207
	138,786		Allianz AG.		22,540
	1,459,833		AMP Ltd		6,471
	10,941		Arthur J. Gallagher & Co		487
	79,754		Aspen Insurance Holdings Ltd		3,804
	560,069		Assicurazioni Generali S.p.A.		8,291
	1,897,789		Aviva plc		12,391
	721,000		AXA S.A.		16,906
	72,699		Axis Capital Holdings Ltd		4,032
	648,545	*	Berkshire Hathaway, Inc (Class B)		92,015
	336,331		Chubb Ltd		40,074
	177,318		CNP Assurances		2,761
	11,746		Employers Holdings, Inc		331
	4,246		Endurance Specialty Holdings Ltd		277
	2,599	*	Enstar Group Ltd		423
	279,927		Hartford Financial Services Group, Inc		12,899
	463,822		Insurance Australia Group Ltd		1,981
	1,916		Kemper Corp		57
	821,139		Legal & General Group plc		2,767
	485,123		Marsh & McLennan Cos, Inc		29,491
	73,770		Muenchener Rueckver AG.		14,971
	4,300		NKSJ Holdings, Inc		122
	3,842,475		Old Mutual plc		10,613
	233,299		Principal Financial Group		9,204
	448,068		Progressive Corp		15,745
	376,398		Prudential Financial, Inc		27,183
	904,366		Prudential plc		16,829
	59,819		QBE Insurance Group Ltd		500
	6,942		Reinsurance Group of America, Inc (Class A)		668
	43,163		RenaissanceRe Holdings Ltd		5,172
	333,784		RSA Insurance Group plc		2,275
	998,241		Standard Life plc		5,090
	21,338		Stewart Information Services Corp		774
	161,456		Swiss Re Ltd		14,909
	172,600		T&D Holdings, Inc		1,612
	307,934		Travelers Cos, Inc		35,939
	1,038		Willis Towers Watson plc		123
	65,076		Zurich Financial Services AG.		15,092
			TOTAL INSURANCE		473,431
MATERIALS - 3.2%
	61,387		Agnico-Eagle Mines Ltd		2,221

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	34,866	e	Agrium, Inc	$	3,078
	141,893		Air Liquide		15,919
	236,880		Air Products & Chemicals, Inc		34,123
	23,600		Akzo Nobel NV		1,609
	563		Albemarle Corp		36
	61,000		Asahi Kasei Corp		412
	116,427		Avery Dennison Corp		8,396
	63,073		Ball Corp		4,496
	294,271		BASF SE		22,128
	366,160		Boliden AB		5,841
	45,761		Celanese Corp (Series A)		2,997
	63,760	*,e	Century Aluminum Co		449
	2,372	*	Clearwater Paper Corp		115
	131,361		Commercial Metals Co		2,229
	142,546		CRH plc		4,026
	5,941		DSM NV		327
	37,546		Eastman Chemical Co		2,712
	296,124		Ecolab, Inc		33,024
	5,690	*	Ferro Corp		68
	346,960		Fletcher Building Ltd		1,891
	69,111	*,e	Flotek Industries, Inc		507
	28,710		Franco-Nevada Corp		1,763
	5,229		Givaudan S.A.		10,248
	65,302		H.B. Fuller Co		2,772
	48,214		HeidelbergCement AG.		4,120
	270,678		Holcim Ltd		12,711
	23,190		Innophos Holdings, Inc		717
	9,797		International Flavors & Fragrances, Inc		1,115
	200,795		International Paper Co		8,241
	24,170	*	Intrepid Potash, Inc		27
	462,700		JFE Holdings, Inc		6,214
	115,470		Johnson Matthey plc		4,539
	112,139	e	K&S AG.		2,616
	500,300	*	Kinross Gold Corp		1,707
	2,580,000		Kobe Steel Ltd		2,268
	7,764	*	Kraton Polymers LLC		134
	58,000		Kuraray Co Ltd		709
	94,228		Linde AG.		13,691
	173,029	*	Louisiana-Pacific Corp		2,962
	329,993		LyondellBasell Industries AF S.C.A		28,241
	38,519		Minerals Technologies, Inc		2,190
	1,828,000		Mitsubishi Materials Corp		5,157
	120,960		Mitsui Chemicals, Inc		403
	1,024		Mondi plc		20
	104,804		Mosaic Co		2,830
	9,891		Myers Industries, Inc		127
	2,220		Neenah Paper, Inc		141
	537,747	*	Newcrest Mining Ltd		6,959
	1,000		Nippon Paint Co Ltd		22
	538,000		Nippon Steel Corp		10,314
	21,200	e	Nitto Denko Corp		1,181
	1,270,491		Norsk Hydro ASA		5,220

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	416,543		Nucor Corp	$	19,702
	11,843		PolyOne Corp		358
	539,376		Potash Corp of Saskatchewan		9,182
	2,189		PPG Industries, Inc		244
	259,544		Praxair, Inc		29,705
	1,380		Quaker Chemical Corp		117
	8,303		Reliance Steel & Aluminum Co		574
	24,000		Royal Gold, Inc		1,231
	19,955		Schnitzer Steel Industries, Inc (Class A)		368
	19,423		Sealed Air Corp		932
	52,085		Sherwin-Williams Co		14,827
	101,400		Shin-Etsu Chemical Co Ltd		5,237
	264,389	e	Silver Wheaton Corp		4,387
	1,200		Stepan Co		66
	74,982	*,e	Stillwater Mining Co		799
	474,729		Stora Enso Oyj (R Shares)		4,242
	1,177,000		Sumitomo Chemical Co Ltd		5,328
	642,000		Sumitomo Metal Mining Co Ltd		6,352
	686,545	e	Teck Cominco Ltd		5,207
	305,000		Toray Industries, Inc		2,603
	51,700		Toyo Seikan Kaisha Ltd		967
	14,076	*,e	Trinseo S.A.		518
	57,094		Umicore		2,834
	402,900	e	UPM-Kymmene Oyj		7,284
	59,447		Valspar Corp		6,362
	177,174		WestRock Co		6,915
	66,360	*	Worthington Industries, Inc		2,365
			TOTAL MATERIALS		424,669
MEDIA - 1.8%
	67,827	*,e	Charter Communications, Inc		13,730
	42,059		Cinemark Holdings, Inc		1,507
	103,369	e	Clear Channel Outdoor Holdings, Inc (Class A)		486
	49,500		Dentsu, Inc		2,483
	200,245	*,e	Discovery Communications, Inc (Class A)		5,733
	429,386	*	Discovery Communications, Inc (Class C)		11,594
	52,293	*,e	DreamWorks Animation SKG, Inc (Class A)		1,305
	21,453	*	Entercom Communications Corp (Class A)		227
	80,337		Entravision Communications Corp (Class A)		598
	18,968	*	Gray Television, Inc		222
	526,783		ITV plc		1,820
	1,894		JC Decaux S.A.		83
	10,069		John Wiley & Sons, Inc (Class A)		492
	2,190		Kabel Deutschland Holding AG.		245
	15,813		Lagardere S.C.A.		420
	20,124	*	Liberty Broadband Corp (Class A)		1,170
	4,448	*	Liberty Global plc		167
	2,960	*	Liberty Global plc (Class A)		114
	17,183	*	Media General, Inc		280
	177,989		New York Times Co (Class A)		2,218
	668,287		Pearson plc		8,375
	102,176		ProSiebenSat. Media AG.		5,245

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	247,239		Reed Elsevier plc	$	4,587
	1,550		Scholastic Corp		58
	34,566		Scripps Networks Interactive (Class A)		2,264
	85,295		SES Global S.A.		2,495
	162,694	e	Shaw Communications, Inc (B Shares)		3,143
	60,413	e	Sinclair Broadcast Group, Inc (Class A)		1,858
	332,800	e	Singapore Press Holdings Ltd		987
	207,307		Time Warner Cable, Inc		42,419
	543,847		Time Warner, Inc		39,456
	317,818		Vivendi Universal S.A.		6,661
	664,919		Walt Disney Co		66,033
	37,566		Wolters Kluwer NV		1,497
	625,558		WPP plc		14,560
			TOTAL MEDIA		244,532
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.7%
	72,318	*,e	Acadia Pharmaceuticals, Inc		2,022
	77,757		Actelion Ltd		11,604
	101,334	*	Affymetrix, Inc		1,420
	372,711		Agilent Technologies, Inc		14,853
	101,464	*,e	Akorn, Inc		2,387
	158,312	*	Alexion Pharmaceuticals, Inc		22,040
	350,900		Amgen, Inc		52,610
	1,011,588		Astellas Pharma, Inc		13,444
	118,967	*	Biogen Idec, Inc		30,969
	52,764	*	BioMarin Pharmaceutical, Inc		4,352
	43,942	*,e	Bluebird Bio, Inc		1,868
	797,362		Bristol-Myers Squibb Co		50,935
	39,475	*	Cambrex Corp		1,737
	383,194	*	Celgene Corp		38,354
	39,088	*,e	Cempra, Inc		685
	57,720	*	Cepheid, Inc		1,926
	170,500		Chugai Pharmaceutical Co Ltd		5,276
	77,465	*,e	Depomed, Inc		1,079
	114,100		Eisai Co Ltd		6,860
	15,784	*,e	Fluidigm Corp		127
	11,555	*	Genomic Health, Inc		286
	620,886		Gilead Sciences, Inc		57,035
	1,343,455		GlaxoSmithKline plc		27,196
	4,270	*	Immunogen, Inc		36
	121,343	*,e	Immunomedics, Inc		303
	20,482	*,e	Inovio Pharmaceuticals, Inc		178
	32,759	*	Intra-Cellular Therapies, Inc		911
	1,495	*,e	Ionis Pharmaceuticals, Inc		61
	930,497		Johnson & Johnson		100,680
	8,898	*,e	Kite Pharma, Inc		409
	206,000		Kyowa Hakko Kogyo Co Ltd		3,287
	49,633		Lonza Group AG.		8,390
	1,156,605		Merck & Co, Inc		61,196
	117,612		Merck KGaA		9,783
	2,322	*	Mettler-Toledo International, Inc		801
	115,217	*,e	MiMedx Group, Inc		1,007

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	37,564	*	Momenta Pharmaceuticals, Inc	$	347
	170,288	*,e	Nektar Therapeutics		2,341
	532,674		Novartis AG.		38,540
	522,720		Novo Nordisk AS		28,307
	19,069	*,e	Opko Health, Inc		198
	87,972	*,e	Orexigen Therapeutics, Inc		50
	65,424		Orion Oyj (Class B)		2,160
	12,565		PerkinElmer, Inc		621
	48,719	*	Prestige Brands Holdings, Inc		2,601
	41,556	*,e	Prothena Corp plc		1,710
	179,008	*	Qiagen NV		3,981
	547	*	Quintiles Transnational Holdings, Inc		36
	40,666	*,e	Relypsa, Inc		551
	34,568	*	Repligen Corp		927
	163,207		Roche Holding AG.		40,074
	90,249	*,e	Sangamo Biosciences, Inc		546
	109,800		Santen Pharmaceutical Co Ltd		1,650
	63,903	*,e	Sarepta Therapeutics, Inc		1,247
	30,543	*	Sucampo Pharmaceuticals, Inc (Class A)		334
	119,600	e	Sumitomo Dainippon Pharma Co Ltd		1,376
	325,485		Takeda Pharmaceutical Co Ltd		14,839
	44,995	*	Tetraphase Pharmaceuticals, Inc		208
	273,472		Thermo Electron Corp		38,721
	181,445	*	Vertex Pharmaceuticals, Inc		14,423
	23,386	*	Waters Corp		3,085
	112,104	*,e	Xenoport, Inc		506
	8,246	*,e	Zafgen, Inc		55
	454,408		Zoetis Inc		20,144
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		755,685
REAL ESTATE - 2.7%
	83,800		Aeon Mall Co Ltd		1,240
	13,025	*,e	Altisource Portfolio Solutions S.A.		314
	19,852		American Campus Communities, Inc		935
	362,399		American Tower Corp		37,099
	1,199,598		Annaly Capital Management, Inc		12,308
	2,022		AvalonBay Communities, Inc		385
	119,509		Boston Properties, Inc		15,187
	424,887		British Land Co plc		4,265
	2,212		Brixmor Property Group, Inc		57
	2,408,649		CapitaLand Ltd		5,478
	3,430,300		CapitaMall Trust		5,316
	167,239	*	CBRE Group, Inc		4,820
	262,900		City Developments Ltd		1,592
	39,077		Coresite Realty		2,736
	332,732		Crown Castle International Corp		28,781
	373,000		Daiwa House Industry Co Ltd		10,484
	207,178		Dexus Property Group		1,258
	5,728		Digital Realty Trust, Inc		507
	159,367		Duke Realty Corp		3,592
	53,626		Equinix, Inc		17,735
	188,574		Equity Residential		14,149

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	255,532		First Industrial Realty Trust, Inc	$	5,811
	2,732		Forest City Realty Trust, Inc		58
	12,158		Gecina S.A.		1,668
	102,870		GPT Group (ASE)		394
	86,130		Hammerson plc		714
	529,437		HCP, Inc		17,249
	338,849		Host Marriott Corp		5,659
	346,000		Hysan Development Co Ltd		1,474
	9,088		Icade		694
	110,173		Iron Mountain, Inc		3,736
	316,995		Land Securities Group plc		4,998
	221,014		Lend Lease Corp Ltd		2,346
	783,402	e	Liberty International plc		3,513
	55,028		Macerich Co		4,360
	312,176		Macquarie Goodman Group		1,596
	727,767		Mirvac Group		1,078
	522,810		Mitsui Fudosan Co Ltd		13,022
	107,800		Nomura Real Estate Holdings, Inc		1,990
	419,552		Prologis, Inc		18,536
	56,247		Ryman Hospitality Properties		2,896
	419,971		Segro plc		2,470
	149,100		Shoei Co Ltd		1,422
	207,339		Simon Property Group, Inc		43,062
	1,306,210		Stockland Trust Group		4,273
	555,500		Swire Pacific Ltd (Class A)		5,992
	1,105,200		Swire Properties Ltd		2,991
	51,546		Unibail-Rodamco		14,137
	97,312		Ventas, Inc		6,127
	119,874		Vornado Realty Trust		11,320
	218,577		Welltower, Inc		15,156
	1,409		Weyerhaeuser Co		44
			TOTAL REAL ESTATE		367,024
RETAILING - 2.0%
	30,395	*	1-800-FLOWERS.COM, Inc (Class A)		240
	249,956	e	American Eagle Outfitters, Inc		4,167
	39,176	*	AutoZone, Inc		31,211
	198,255	*	Bed Bath & Beyond, Inc		9,841
	133,587		Best Buy Co, Inc		4,334
	21,019		Big 5 Sporting Goods Corp		234
	10,681		Blue Nile, Inc		275
	7,961	*,e	Cabela’s, Inc		388
	3,824		Canadian Tire Corp Ltd		398
	82,643	*	Carmax, Inc		4,223
	38,019		DSW, Inc (Class A)		1,051
	18,500		Fast Retailing Co Ltd		5,911
	36,865		Finish Line, Inc (Class A)		778
	25,233	*	Francesca’s Holdings Corp		484
	15,780	*	FTD Cos, Inc		414
	730	e	GameStop Corp (Class A)		23
	307,468	e	Gap, Inc		9,040
	23,293		GNC Holdings, Inc		740

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	444,913	*,e	Groupon, Inc	$	1,775
	18,342		Haverty Furniture Cos, Inc		388
	242,555		Hennes & Mauritz AB (B Shares)		8,073
	26,410		HSN, Inc		1,382
	466,198		Inditex S.A.		15,627
	104,600		Jardine Cycle & Carriage Ltd		3,106
	983,061		Kingfisher plc		5,302
	6,985		Kirkland’s, Inc		122
	232,746		Kohl’s Corp		10,848
	14,795	*,e	Lands’ End, Inc		378
	5,487,620	e	Li & Fung Ltd		3,251
	3,010	*	LKQ Corp		96
	581,353		Lowe’s Companies, Inc		44,038
	32,219	*	MarineMax, Inc		627
	336,563		Marks & Spencer Group plc		1,961
	2,400	e	Marui Co Ltd		34
	315,716	*	NetFlix, Inc		32,276
	1,281		Next plc		99
	67,018	e	Nordstrom, Inc		3,834
	31,038		Nutri/System, Inc		648
	484,272	*	Office Depot, Inc		3,438
	8,683	e	Outerwall, Inc		321
	14,754	*	Overstock.com, Inc		212
	19,770	e	PetMed Express, Inc		354
	35,119	e	Pier 1 Imports, Inc		246
	50,268		PPR		8,975
	343,340		Ross Stores, Inc		19,879
	8,634		Shoe Carnival, Inc		233
	48,657	*	Shutterfly, Inc		2,256
	471		Signet Jewelers Ltd		58
	107,654	*	Sports Direct International plc		584
	32,052	e	Stage Stores, Inc		258
	357,969		Staples, Inc		3,948
	10,684		Stein Mart, Inc		78
	17,434		Tiffany & Co		1,279
	16,438	*	Tile Shop Holdings, Inc		245
	968		Tractor Supply Co		88
	62,020		Ulta Salon Cosmetics & Fragrance, Inc		12,016
			TOTAL RETAILING		262,085
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.4%
	1,338		Analog Devices, Inc		79
	1,346,568		Applied Materials, Inc		28,520
	125,128		ASML Holding NV		12,592
	15,582	*	Cirrus Logic, Inc		568
	1,964,478		Intel Corp		63,551
	22,521		Lam Research Corp		1,860
	816		Microchip Technology, Inc		39
	423,571		Nvidia Corp		15,092
	273,014	*	ON Semiconductor Corp		2,618
	130,376		Skyworks Solutions, Inc		10,156
	70,690	*,e	SunPower Corp		1,579

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	732,632		Texas Instruments, Inc	$	42,068
	96,000		Tokyo Electron Ltd		6,253
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		184,975
SOFTWARE & SERVICES - 5.7%
	401,252		Accenture plc		46,305
	51,181	*	Actua Corp		463
	396,575	*	Adobe Systems, Inc		37,199
	96,936	*	Alphabet, Inc (Class A)		73,952
	98,895	*	Alphabet, Inc (Class C)		73,672
	36,042		Amadeus IT Holding S.A.		1,541
	53,882	*	Angie’s List, Inc		435
	19,618	*	Ansys, Inc		1,755
	1,856	*	Aspen Technology, Inc		67
	32,963		Atos Origin S.A.		2,677
	192,487	*	Autodesk, Inc		11,224
	301,113		Automatic Data Processing, Inc		27,013
	8,147		Blackbaud, Inc		512
	126,956		Broadridge Financial Solutions, Inc		7,530
	404,991		CA, Inc		12,470
	24,502	*	Cadence Design Systems, Inc		578
	81,498		Cap Gemini S.A.		7,645
	143,406	*	CGI Group, Inc		6,854
	19,254	*	Cimpress NV		1,746
	1,045	*	Citrix Systems, Inc		82
	562,482	*	Cognizant Technology Solutions Corp (Class A)		35,268
	42,872	*,e	comScore, Inc		1,288
	20,058		Convergys Corp		557
	29,477		CSG Systems International, Inc		1,331
	29,547	*	DHI Group, Inc		238
	55,764	*	Ellie Mae, Inc		5,054
	2,810	*,e	EnerNOC, Inc		21
	14,866	*	Euronet Worldwide, Inc		1,102
	23,295		Fair Isaac Corp		2,471
	10,190	*	FleetCor Technologies, Inc		1,516
	1,924		Forrester Research, Inc		65
	1,391,000		Fujitsu Ltd		5,144
	156,154	*,e	Glu Mobile, Inc		440
	32,941		Heartland Payment Systems, Inc		3,181
	75,998	*,e	Infoblox, Inc		1,300
	68,487	*	Internap Network Services Corp		187
	402,587		International Business Machines Corp		60,972
	328,898		Intuit, Inc		34,209
	57,579		j2 Global, Inc		3,546
	49,303		Jack Henry & Associates, Inc		4,170
	58,827	*	Liquidity Services, Inc		305
	10,138	*	LogMeIn, Inc		512
	72,007	*	Manhattan Associates, Inc		4,095
	42,742	*	Marketo, Inc		836
	523,101		Mastercard, Inc (Class A)		49,433
	1,000		MAXIMUS, Inc		53
	111,793	*	Monster Worldwide, Inc		364

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	3,277	*,e	NetSuite, Inc	$	224
	19,743	*,e	NeuStar, Inc (Class A)		486
	20,400		NTT Data Corp		1,023
	38,014		Open Text Corp		1,969
	1,505,456		Oracle Corp		61,588
	112,604		Paychex, Inc		6,082
	31,247	*	Perficient, Inc		679
	10,156	*	Progress Software Corp		245
	18,092	*	PROS Holdings, Inc		213
	30,568	*	Qualys, Inc		774
	37,137	*,e	Quotient Technology, Inc		394
	34,583	*	RetailMeNot, Inc		277
	48,225	*	RingCentral, Inc		759
	7,887	*	Rovi Corp		162
	495,727	*	Salesforce.com, Inc		36,599
	293,785		SAP AG.		23,640
	8,784	*	Sciquest, Inc		122
	215,673	*,e	ServiceSource International LLC		919
	17,778	*	SPS Commerce, Inc		763
	17,515	*	Stamps.com, Inc		1,861
	22,311	*	Sykes Enterprises, Inc		673
	874,268		Symantec Corp		16,069
	12,936	*	Syntel, Inc		646
	15,116	*,e	Tangoe, Inc		119
	3,633		TeleTech Holdings, Inc		101
	21,843	*	Teradata Corp		573
	41,418	*	Tyler Technologies, Inc		5,327
	25,762	*	Ultimate Software Group, Inc		4,985
	45,368	*,e	Unisys Corp		349
	37,999	*,e	Vasco Data Security International		585
	54,595	*	Website Pros, Inc		1,082
	2,980		Western Union Co		57
	132,015	*,e	Workday, Inc		10,144
	1,970,774		Xerox Corp		21,994
	907,166	*	Yahoo!, Inc		33,393
			TOTAL SOFTWARE & SERVICES		766,254
TECHNOLOGY HARDWARE & EQUIPMENT - 2.1%
	8,103		Adtran, Inc		164
	4,234		Belden CDT, Inc		260
	2,571	*	Benchmark Electronics, Inc		59
	18,011		Black Box Corp		243
	24,131	*	Calix, Inc		171
	2,256,930		Cisco Systems, Inc		64,255
	9,600		Cognex Corp		374
	909	*	Coherent, Inc		83
	4,145		Comtech Telecommunications Corp		97
	522,374		Corning, Inc		10,912
	80,260	*	Cray, Inc		3,364
	25,052	*	Electronics for Imaging, Inc		1,062
	1,451,473		EMC Corp		38,682
	31,934	*	Fabrinet		1,033

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	7,100	*	FARO Technologies, Inc	$	229
	1,358		FEI Co		121
	103,068	*	Finisar Corp		1,880
	8,777	*	Flextronics International Ltd		106
	4,608		Gemalto NV		340
	1,139,827		HP, Inc		14,043
	199,936		Ingram Micro, Inc (Class A)		7,180
	11,659	*	Insight Enterprises, Inc		334
	7,090		InterDigital, Inc		394
	30,066	*,e	IPG Photonics Corp		2,889
	41,052		Jabil Circuit, Inc		791
	15,900		Keyence Corp		8,671
	250,500		Konica Minolta Holdings, Inc		2,125
	246,100		Kyocera Corp		10,836
	79,342		Lexmark International, Inc (Class A)		2,652
	193,513		Motorola, Inc		14,649
	90,600		Murata Manufacturing Co Ltd		10,932
	916,819		NEC Corp		2,305
	37,072	*	Netgear, Inc		1,497
	102,600		Omron Corp		3,052
	500	*	OSI Systems, Inc		33
	1,774		Plantronics, Inc		69
	1,420	*	Plexus Corp		56
	78,536	*	QLogic Corp		1,055
	844,574		Qualcomm, Inc		43,191
	609,300	e	Ricoh Co Ltd		6,201
	2,500	*	Rofin-Sinar Technologies, Inc		80
	158,691		SanDisk Corp		12,073
	13,395	*	Scansource, Inc		541
	3,251	e	Seagate Technology, Inc		112
	55,993	*	Sonus Networks, Inc		422
	67,932	*	Super Micro Computer, Inc		2,315
	1,417		SYNNEX Corp		131
	23,800		TDK Corp		1,321
	6,018		TE Connectivity Ltd		373
	32,982	*	Tech Data Corp		2,532
	2,148	*	Trimble Navigation Ltd		53
	13,773	*	TTM Technologies, Inc		92
	36,195	*	Universal Display Corp		1,958
	132,900		Yokogawa Electric Corp		1,373
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		279,766
TELECOMMUNICATION SERVICES - 1.8%
	44,988	*	Boingo Wireless, Inc		347
	2,901,057		BT Group plc		18,318
	724,928		CenturyTel, Inc		23,169
	252,930	*	Cincinnati Bell, Inc		979
	2,650	e	Consolidated Communications Holdings, Inc		68
	3,261	*,e	Fairpoint Communications, Inc		48
	19,041	*	General Communication, Inc (Class A)		349
	11,301		IDT Corp (Class B)		176
	106,269	*,e	Iridium Communications, Inc		836

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	637,232		KDDI Corp	$	17,002
	102,171	*	Level 3 Communications, Inc		5,400
	5,214	*	Lumos Networks Corp		67
	328,000		Nippon Telegraph & Telephone Corp		14,169
	561,900		NTT DoCoMo, Inc		12,773
	115,952		Rogers Communications, Inc (Class B)		4,643
	10,132		Shenandoah Telecom Co		271
	4,172,000		Singapore Telecommunications Ltd		11,809
	1,144,273	*,e	Sprint Corp		3,982
	21,076		Swisscom AG.		11,439
	136,290		Telefonica Deutschland Holding AG.		737
	1,367,760		TeliaSonera AB		7,087
	8,858		TELUS Corp		288
	1,573,471		Verizon Communications, Inc		85,094
	7,779,206		Vodafone Group plc		24,720
	240,525	*	Vonage Holdings Corp		1,099
			TOTAL TELECOMMUNICATION SERVICES		244,870
TRANSPORTATION - 1.6%
	306,811		Abertis Infraestructuras S.A. (Continuous)		5,038
	4,146		Arkansas Best Corp		90
	299,494		Auckland International Airport Ltd		1,331
	106,020		Autostrade S.p.A.		2,938
	97,236	*	Avis Budget Group, Inc		2,660
	289,206		Canadian National Railway Co		18,073
	52,000		Central Japan Railway Co		9,196
	310,022		CSX Corp		7,983
	272,376		Delta Air Lines, Inc		13,259
	206,682	*	Deutsche Lufthansa AG.		3,336
	490,203		Deutsche Post AG.		13,605
	91,100		East Japan Railway Co		7,858
	1,948		easyJet plc		42
	25,662	*	Echo Global Logistics, Inc		697
	5		Expeditors International of Washington, Inc		0	^
	12,872		Fraport AG. Frankfurt Airport Services Worldwide		779
	2,962	*	Hertz Global Holdings, Inc		31
	307		Kansas City Southern Industries, Inc		26
	18,288		Kuehne & Nagel International AG.		2,599
	513,000		Mitsui OSK Lines Ltd		1,044
	1,862,486		MTR Corp		9,231
	182,000		Nippon Yusen Kabushiki Kaisha		351
	27,323		Norfolk Southern Corp		2,275
	163,100		Singapore Airlines Ltd		1,382
	746,778		Southwest Airlines Co		33,456
	15,919		Sydney Airport		82
	197,000		Tokyu Corp		1,650
	451,697		Union Pacific Corp		35,932
	426,873		United Parcel Service, Inc (Class B)		45,022
			TOTAL TRANSPORTATION		219,966
UTILITIES - 2.2%
	35,914		AGL Energy Ltd		506

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	42,558		American Water Works Co, Inc	$	2,934
	569,057		APA Group		3,838
	30,410		Atco Ltd		920
	46,554		Canadian Utilities Ltd		1,303
	223,054		Centerpoint Energy, Inc		4,666
	14,859		Chesapeake Utilities Corp		936
	1,306,500		CLP Holdings Ltd		11,826
	376,114		Consolidated Edison, Inc		28,818
	445,613		Duke Energy Corp		35,952
	1,883		Edison International		135
	1,284,611		Enel Green Power S.p.A		2,758
	1,149,030		Energias de Portugal S.A.		4,080
	331,373		Eversource Energy		19,332
	106,759	e	Fortis, Inc		3,346
	5,369,579		Hong Kong & China Gas Ltd		10,038
	2,279,734		Iberdrola S.A.		15,176
	478,452	*	Meridian Energy Ltd		865
	82,681		MGE Energy, Inc		4,320
	78,297		Mighty River Power Ltd		158
	1,334,856		National Grid plc		18,887
	340,764		NextEra Energy, Inc		40,326
	1,420	e	Ormat Technologies, Inc		59
	167,000		Osaka Gas Co Ltd		641
	154,285		Piedmont Natural Gas Co, Inc		9,231
	35,342		Public Service Enterprise Group, Inc		1,666
	586,762		Scottish & Southern Energy plc		12,557
	252,764		Sempra Energy		26,300
	1,577,190		Snam Rete Gas S.p.A.		9,870
	60,731		South Jersey Industries, Inc		1,728
	224,990		Suez Environnement S.A.		4,119
	32,615		Terna Rete Elettrica Nazionale S.p.A.		186
	699,790		Tokyo Gas Co Ltd		3,262
	269,988		United Utilities Group plc		3,574
	11,400		Unitil Corp		484
	57,002		WEC Energy Group, Inc		3,424
	27,296		WGL Holdings, Inc		1,975
	110,547		Xcel Energy, Inc		4,623
			TOTAL UTILITIES		294,819
			TOTAL COMMON STOCKS		8,117,113
			(Cost $6,445,697)
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	233,115	*,e	Federal Home Loan Mortgage Corp		723
	740,991	*	Federal National Mortgage Association		2,253
	14,500	e	M&T Bank Corp		15,442
			TOTAL BANKS		18,418
			TOTAL PREFERRED STOCKS		18,418
			(Cost $38,865)

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 6.0%
GOVERNMENT AGENCY DEBT - 1.2%
$	42,200,000	Federal Home Loan Bank (FHLB)		0.280	%	04/20/16	$	42,195
	25,000,000	FHLB		0.385		05/18/16		24,992
	6,561,000	FHLB		0.400		06/20/16		6,556
	15,950,000	Federal Home Loan Mortgage Corp (FHLMC)		0.280		04/06/16		15,950
	34,000,000	FHLMC		0.391		05/04/16		33,992
	29,200,000	Federal National Mortgage Association (FNMA)		0.230		04/19/16		29,197
		TOTAL GOVERNMENT AGENCY DEBT						152,882
TREASURY DEBT - 2.0%
	23,900,000	United States Treasury Bill		0.236		04/07/16		23,899
	71,600,000	United States Treasury Bill		0.240-0.272		04/14/16		71,597
	60,900,000	United States Treasury Bill		0.233		04/21/16		60,896
	6,000,000	United States Treasury Bill		0.212		04/28/16		5,999
	50,000,000	United States Treasury Bill		0.293		05/19/16		49,989
	8,100,000	United States Treasury Bill		0.225		05/26/16		8,098
	47,000,000	United States Treasury Bill		0.373		09/29/16		46,909
		TOTAL TREASURY DEBT						267,387
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.8%
TREASURY DEBT - 2.8%
	8,600,000	Federal Home Loan Bank (FHLB)		0.320		04/15/16		8,599
	45,000,000	United States Treasury Bill		0.236		04/14/16		44,996
	70,000,000	United States Treasury Bill		0.190-0.240		04/21/16		69,992
	20,000,000	United States Treasury Bill		0.281		05/19/16		19,993
	60,000,000	United States Treasury Bill		0.306-0.318		05/26/16		59,971
	26,000,000	United States Treasury Bill		0.301		06/30/16		25,981
	25,000,000	United States Treasury Bill		0.155		07/21/16		24,988
	96,000,000	United States Treasury Bill		0.315-0.330		08/18/16		95,882
	27,000,000	United States Treasury Bill		0.442		09/01/16		26,949
		TOTAL TREASURY DEBT						377,351
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						377,351
		TOTAL SHORT-TERM INVESTMENTS						797,620
		(Cost $797,594)
		TOTAL INVESTMENTS - 105.0%						14,035,235
		(Cost $12,284,772)
		OTHER ASSETS & LIABILITIES, NET - (5.0)%						(663,004	)
		NET ASSETS - 100.0%					$	13,372,231

389

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 $397,422,000.
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 3/31/16, the aggregate value of these securities was $728,963,000, or 5.5% 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.
	Cost amounts are in thousands.

390

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND

MONEY MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2016

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 99.9%
CERTIFICATE OF DEPOSIT - 3.1%
$	30,000,000		Banco Del Estado De Chile		0.570	%	04/07/16	$	30,000
	50,000,000		Banco Del Estado De Chile		0.570		04/13/16		50,000
	25,000,000		Banco Del Estado De Chile		0.570		05/17/16		25,000
	25,000,000		Banco Del Estado De Chile		0.590		06/10/16		25,000
	30,000,000		Banco Del Estado De Chile		0.590		06/14/16		30,000
	25,000,000		Banco Del Estado De Chile		0.570		06/21/16		25,000
	20,000,000		Korea Development Bank		0.600		05/25/16		19,998
	50,000,000		Toronto-Dominion Bank		0.470		05/19/16		50,000
	50,000,000		US Bank NA		0.510		05/26/16		50,000
	50,000,000		Wells Fargo Bank NA		0.580		04/18/16		50,000
			TOTAL CERTIFICATE OF DEPOSIT						354,998
COMMERCIAL PAPER - 36.4%
	50,000,000		American Honda Finance Corp		0.490-0.500		04/11/16		49,993
	9,500,000		American Honda Finance Corp		0.450		04/12/16		9,499
	31,200,000		American Honda Finance Corp		0.490		04/13/16		31,195
	2,500,000		American Honda Finance Corp		0.460		04/21/16		2,499
	28,000,000	y	Apple, Inc		0.415		04/04/16		27,999
	40,000,000	y	Apple, Inc		0.440-0.470		04/22/16		39,989
	28,750,000	y	Apple, Inc		0.450		04/26/16		28,741
	15,000,000	y	Apple, Inc		0.440		05/06/16		14,994
	20,000,000	y	Australia & New Zealand Banking Group Ltd		0.555		04/21/16		19,994
	10,460,000	y	Australia & New Zealand Banking Group Ltd		0.550		05/03/16		10,455
	25,000,000	y	Australia & New Zealand Banking Group Ltd		0.610-0.615		06/02/16		24,974
	19,670,000	y	Bedford Row Funding Corp		0.400		04/04/16		19,669
	23,000,000	y	Bedford Row Funding Corp		0.670		04/19/16		22,992
	31,000,000	y	Bedford Row Funding Corp		0.630		06/06/16		30,964
	6,400,000	y	Bedford Row Funding Corp		0.590		06/21/16		6,392
	10,000,000	y	Bedford Row Funding Corp		0.860		09/20/16		9,959
	25,000,000	y	CAFCO LLC		0.580		05/12/16		24,983
	11,600,000	y	CAFCO LLC		0.460		06/02/16		11,591
	7,000,000	y	CAFCO LLC		0.590		06/16/16		6,991
	44,500,000	y	Ciesco LLC		0.580		06/13/16		44,448
	25,000,000	y	Coca-Cola Co		0.440		05/09/16		24,988
	15,000,000	y	Coca-Cola Co		0.420		05/10/16		14,993
	20,000,000	y	Coca-Cola Co		0.430		05/23/16		19,988
	20,000,000	y	Coca-Cola Co		0.430		05/24/16		19,987
	30,000,000	y	Coca-Cola Co		0.500		07/13/16		29,957
	6,000,000	y	Commonwealth Bank of Australia		0.530		06/23/16		5,993
	38,000,000	y	DBS Bank Ltd		0.495		05/16/16		37,977
	50,000,000	y	DBS Bank Ltd		0.500		05/17/16		49,968
	40,000,000	y	DBS Bank Ltd		0.480		05/27/16		39,970
	17,750,000		European Investment Bank		0.370		04/05/16		17,749
	20,000,000		European Investment Bank		0.515		05/12/16		19,988
	18,810,000		European Investment Bank		0.540		05/26/16		18,794

391

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	30,000,000		Exxon Mobil Corp		0.445	%	04/01/16	$	30,000
	25,000,000		Exxon Mobil Corp		0.490		05/09/16		24,987
	20,000,000	y	Fairway Finance Co LLC		0.570		05/10/16		19,988
	20,000,000	y	Fairway Finance Co LLC		0.580		06/16/16		19,976
	25,000,000	y	Fairway Finance LLC		0.700		04/11/16		24,995
	10,000,000	y	Fairway Finance LLC		0.580		05/03/16		9,995
	24,670,000	y	Fairway Finance LLC		0.570		06/13/16		24,641
	16,850,000	y	Hydro-Quebec		0.400		04/08/16		16,848
	18,000,000	y	Hydro-Quebec		0.390		04/12/16		17,998
	20,000,000	y	Hydro-Quebec		0.400		04/19/16		19,996
	46,900,000	y	Hydro-Quebec		0.470		05/09/16		46,877
	23,000,000	y	Hydro-Quebec		0.460		05/25/16		22,984
	50,000,000	y	Hydro-Quebec		0.500		06/03/16		49,956
	20,000,000	y	Hydro-Quebec		0.500		06/16/16		19,979
	20,000,000	y	Hydro-Quebec		0.500		06/20/16		19,978
	45,000,000	y	Johnson & Johnson		0.420		04/19/16		44,991
	26,000,000	y	Jupiter Securitization Co LLC		0.520		05/03/16		25,988
	24,000,000	y	Jupiter Securitization Co LLC		0.510		05/04/16		23,989
	30,000,000		Korea Development Bank		0.570		04/04/16		29,998
	25,000,000		Korea Development Bank		0.500		04/05/16		24,999
	25,000,000		Korea Development Bank		0.460		04/19/16		24,994
	16,275,000		Korea Development Bank		0.510		04/20/16		16,271
	28,000,000		Korea Development Bank		0.500-0.540		04/25/16		27,990
	30,000,000		Korea Development Bank		0.610		05/11/16		29,980
	25,000,000		Korea Development Bank		0.590		06/24/16		24,966
	21,120,000	y	Liberty Street Funding LLC		0.580		06/14/16		21,095
	4,460,000	y	Microsoft Corp		0.370		05/04/16		4,458
	20,000,000	y	Microsoft Corp		0.380		05/11/16		19,992
	6,100,000	y	Microsoft Corp		0.400		05/18/16		6,097
	50,000,000	y	Microsoft Corp		0.420-0.425		05/25/16		49,968
	8,525,000	y	Microsoft Corp		0.450		06/01/16		8,519
	80,000,000	y	Microsoft Corp		0.400		06/08/16		79,939
	25,000,000	y	National Australia Bank Ltd		0.520		05/06/16		24,987
	25,000,000	y	National Australia Bank Ltd		0.500		05/09/16		24,987
	36,590,000	y	National Australia Bank Ltd		0.500-0.510		05/13/16		36,569
	25,000,000	y	National Australia Bank Ltd		0.800		09/19/16		24,905
	29,315,000	y	Nestle Capital Corp		0.445		04/14/16		29,310
	30,000,000	y	Nestle Capital Corp		0.490		04/18/16		29,993
	20,000,000	y	Nestle Capital Corp		0.400		04/19/16		19,996
	27,460,000	y	Nestle Capital Corp		0.490		04/22/16		27,452
	30,000,000	y	Nestle Capital Corp		0.500		04/25/16		29,990
	40,000,000	y	Nestle Capital Corp		0.490		04/29/16		39,985
	20,000,000	y	Nestle Capital Corp		0.475		05/06/16		19,991
	20,000,000	y	Nestle Capital Corp		0.480		05/11/16		19,989
	23,000,000	y	Nestle Capital Corp		0.450		05/18/16		22,987
	20,000,000	y	Nestle Capital Corp		0.455		06/03/16		19,984
	10,000,000	y	Nestle Capital Corp		0.580		07/12/16		9,984
	20,000,000	y	Nestle Capital Corp		0.570		07/19/16		19,965
	14,725,000	y	Nestle Capital Corp		0.550		07/26/16		14,699
	7,085,000	y	Nordea Bank AB		0.540		04/04/16		7,085
	1,500,000	y	Nordea Bank AB		0.500		04/07/16		1,500
	24,285,000	y	Nordea Bank AB		0.530		05/09/16		24,271
	37,000,000	y	Nordea Bank AB		0.490-0.540		05/16/16		36,976

392

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,475,000	y	Nordea Bank AB		0.485	%	05/17/16	$	5,472
	20,450,000	y	Nordea Bank AB		0.555		06/02/16		20,430
	20,000,000	y	Nordea Bank AB		0.618		07/29/16		19,959
	25,000,000	y	Novartis Finance Corp		0.450		05/10/16		24,988
	44,500,000	y	Novartis Finance Corp		0.470		05/16/16		44,474
	34,000,000	y	Novartis Finance Corp		0.470		05/23/16		33,977
	15,000,000	y	Novartis Finance Corp		0.470		05/25/16		14,989
	39,700,000	y	Novartis Finance Corp		0.460		06/07/16		39,666
	45,000,000	y	Old Line Funding LLC		0.600-0.800		05/20/16		44,958
	25,000,000	y	Old Line Funding LLC		0.680		08/08/16		24,939
	525,000	y	Old Line Funding LLC		0.800		08/29/16		523
	25,000,000		Oversea-Chinese Banking Corp Ltd		0.430		04/28/16		24,992
	19,450,000		PACCAR Financial Corp		0.505		05/05/16		19,441
	11,600,000		PACCAR Financial Corp		0.475		06/16/16		11,588
	50,000,000	y	Private Export Funding		0.510		06/27/16		49,938
	25,000,000	y	Private Export Funding Corp		0.530		04/06/16		24,998
	25,000,000	y	Private Export Funding Corp		0.530		05/04/16		24,988
	25,000,000	y	Private Export Funding Corp		0.530		05/17/16		24,983
	20,000,000	y	Private Export Funding Corp		0.600		06/29/16		19,970
	21,000,000		Province of British Columbia Canada		0.490		04/08/16		20,998
	46,000,000		Province of British Columbia Canada		0.500		04/12/16		45,993
	18,500,000		Province of British Columbia Canada		0.400		04/22/16		18,496
	8,600,000		Province of British Columbia Canada		0.460		04/28/16		8,597
	47,600,000		Province of British Columbia Canada		0.410-0.420		04/29/16		47,584
	15,000,000		Province of British Columbia Canada		0.560		05/02/16		14,993
	33,330,000		Province of British Columbia Canada		0.485		05/13/16		33,311
	16,880,000		Province of British Columbia Canada		0.480		05/19/16		16,869
	4,000,000		Province of British Columbia Canada		0.420		05/20/16		3,998
	12,175,000		Province of British Columbia Canada		0.500-0.550		06/17/16		12,161
	12,000,000		Province of British Columbia Canada		0.720		07/05/16		11,977
	23,000,000		Province of British Columbia Canada		0.680		07/11/16		22,956
	32,300,000		Province of British Columbia Canada		0.590-0.600		07/12/16		32,246
	15,000,000		Province of British Columbia Canada		0.620		07/29/16		14,969
	50,000,000		Province of Ontario Canada		0.395-0.470		04/05/16		49,998
	13,690,000		Province of Ontario Canada		0.480		04/07/16		13,689
	13,975,000		Province of Ontario Canada		0.400		04/08/16		13,974
	13,959,000		Province of Ontario Canada		0.400-0.450		04/21/16		13,956
	21,075,000		Province of Ontario Canada		0.480		05/09/16		21,064
	7,000,000		Province of Ontario Canada		0.470		05/12/16		6,996
	18,750,000		Province of Ontario Canada		0.480		05/18/16		18,738
	42,500,000		Province of Ontario Canada		0.490		05/19/16		42,472
	19,346,000		Province of Ontario Canada		0.480		05/25/16		19,332
	19,300,000		Province of Ontario Canada		0.510		06/01/16		19,283
	25,665,000		Province of Ontario Canada		0.480		06/14/16		25,640
	6,000,000		Province of Ontario Canada		0.490		07/27/16		5,991
	20,000,000	y	Province of Quebec Canada		0.470		05/04/16		19,991
	9,280,000	y	Province of Quebec Canada		0.450		05/27/16		9,274
	10,936,000	y	Province of Quebec Canada		0.510		06/03/16		10,926
	25,000,000	y	Province of Quebec Canada		0.510		06/06/16		24,977
	10,000,000	y	Province of Quebec Canada		0.520		07/06/16		9,986
	9,000,000	y	PSP Capital, Inc		0.540		04/04/16		9,000
	9,500,000	y	PSP Capital, Inc		0.520		04/05/16		9,499
	15,000,000	y	PSP Capital, Inc		0.570		04/06/16		14,999

393

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	40,000,000	y	PSP Capital, Inc		0.560	%	04/12/16	$	39,993
	11,530,000	y	PSP Capital, Inc		0.590		04/14/16		11,527
	21,000,000	y	PSP Capital, Inc		0.560		04/18/16		20,994
	15,000,000	y	PSP Capital, Inc		0.560		04/20/16		14,996
	25,000,000	y	PSP Capital, Inc		0.530		05/02/16		24,989
	20,000,000	y	PSP Capital, Inc		0.545		05/18/16		19,986
	5,000,000	y	PSP Capital, Inc		0.550		05/20/16		4,996
	14,000,000	y	PSP Capital, Inc		0.555		05/24/16		13,989
	47,700,000	y	PSP Capital, Inc		0.600		06/01/16		47,651
	13,910,000	y	PSP Capital, Inc		0.580		07/28/16		13,884
	24,930,000	y	Roche Holdings, Inc		0.405-0.410		04/01/16		24,930
	2,700,000	y	Roche Holdings, Inc		0.420		04/05/16		2,700
	25,000,000	y	Roche Holdings, Inc		0.430		04/06/16		24,999
	10,610,000	y	Roche Holdings, Inc		0.420		04/07/16		10,609
	40,000,000	y	Roche Holdings, Inc		0.440		04/20/16		39,991
	45,000,000	y	Roche Holdings, Inc		0.480		04/27/16		44,984
	50,000,000	y	Roche Holdings, Inc		0.485		05/03/16		49,978
	41,300,000	y	Roche Holdings, Inc		0.360-0.415		05/10/16		41,282
	25,000,000		Royal Bank of Canada		0.680		07/01/16		24,957
	25,000,000	y	Svenska Handelsbanken AB		0.550		04/29/16		24,989
	25,000,000	y	Svenska Handelsbanken AB		0.550		05/03/16		24,988
	30,000,000	y	Svenska Handelsbanken AB		0.645		07/05/16		29,949
	21,800,000	y	Svenska Handelsbanken AB		0.635-0.650		07/11/16		21,761
	2,558,000	y	Thunder Bay Funding LLC		0.460		05/17/16		2,557
	25,000,000		Toyota Motor Credit Corp		0.500		05/23/16		24,982
	25,000,000	y	Unilever Capital Corp		0.450		04/04/16		24,999
	10,600,000	y	Unilever Capital Corp		0.460		04/18/16		10,597
	30,000,000	y	Unilever Capital Corp		0.460-0.500		04/25/16		29,990
	2,507,000	y	Unilever Capital Corp		0.560		05/24/16		2,505
	35,369,000	y	Unilever Capital Corp		0.520-0.530		06/06/16		35,335
	46,500,000	y	Unilever Capital Corp		0.535		06/20/16		46,445
	18,920,000	y	Unilever Capital Corp		0.550		06/27/16		18,895
	10,725,000	y	United Overseas Bank Ltd		0.390		04/04/16		10,725
	20,000,000	y	United Overseas Bank Ltd		0.400		04/05/16		19,999
	10,000,000	y	United Overseas Bank Ltd		0.400		04/06/16		9,999
	28,500,000	y	United Overseas Bank Ltd		0.610		04/18/16		28,492
	4,000,000	y	United Overseas Bank Ltd		0.430		04/25/16		3,999
	40,000,000	y	Wal-Mart Stores, Inc		0.430		04/12/16		39,995
	35,000,000	y	Wal-Mart Stores, Inc		0.480		04/28/16		34,987
	25,000,000	y	Wal-Mart Stores, Inc		0.460		04/29/16		24,991
	6,300,000		Washington Gas Light Co		0.410		04/12/16		6,299
	20,000,000	y	Westpac Banking Corp		0.790		06/03/16		19,972
	20,000,000	y	Westpac Banking Corp		0.840-0.845		09/16/16		19,921
			TOTAL COMMERCIAL PAPER						4,192,722
GOVERNMENT AGENCY DEBT - 26.8%
	2,000,000		Federal Farm Credit Bank (FFCB)		0.490		04/14/16		2,000
	29,400,000		FFCB		0.340-0.390		05/03/16		29,390
	5,000,000		FFCB		0.580		10/27/16		4,983
	50,000,000		FFCB		0.520		11/09/16		49,840
	5,725,000		FFCB		0.540		11/10/16		5,706
	14,869,000		FFCB		0.560-0.600		12/06/16		14,808
	26,700,000		Federal Home Loan Bank (FHLB)		0.100-0.330		04/01/16		26,700

394

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	25,000,000	FHLB		0.310	%	04/05/16	$	24,999
	94,500,000	FHLB		0.350-0.370		04/06/16		94,495
	5,699,000	FHLB		0.350		04/07/16		5,699
	63,648,000	FHLB		0.335-0.375		04/08/16		63,643
	45,000,000	FHLB		0.360-0.370		04/11/16		44,995
	900,000	FHLB		0.300		04/12/16		900
	50,088,000	FHLB		0.220-0.370		04/13/16		50,082
	27,257,000	FHLB		0.345-0.365		04/15/16		27,253
	42,000,000	FHLB		0.370-0.400		04/18/16		41,992
	33,800,000	FHLB		0.375		04/19/16		33,794
	106,600,000	FHLB		0.170-0.370		04/20/16		106,581
	215,780,000	FHLB		0.330-0.370		04/22/16		215,737
	30,605,000	FHLB		0.285-0.350		04/25/16		30,598
	74,685,000	FHLB		0.320-0.375		04/26/16		74,667
	131,100,000	FHLB		0.335-0.430		04/27/16		131,064
	2,100,000	FHLB		0.380		04/29/16		2,099
	20,211,000	FHLB		0.390-0.405		05/04/16		20,204
	50,050,000	FHLB		0.300-0.395		05/06/16		50,032
	9,135,000	FHLB		0.320		05/10/16		9,132
	110,845,000	FHLB		0.310-0.390		05/11/16		110,798
	20,000,000	FHLB		0.335		05/12/16		19,992
	70,000,000	FHLB		0.370-0.373		05/13/16		69,970
	20,000,000	FHLB		0.405		05/16/16		19,990
	76,727,000	FHLB		0.305-0.380		05/18/16		76,692
	68,133,000	FHLB		0.305-0.380		05/20/16		68,100
	20,000,000	FHLB		0.270		05/23/16		19,992
	40,000,000	FHLB		0.350		05/24/16		39,979
	45,000,000	FHLB		0.385-0.395		05/25/16		44,974
	56,055,000	FHLB		0.305-0.450		05/27/16		56,025
	19,000,000	FHLB		0.395-0.330		05/31/16		18,989
	94,000,000	FHLB		0.395-0.490		06/01/16		93,932
	3,470,000	FHLB		0.390		06/03/16		3,468
	20,000,000	FHLB		0.380		06/06/16		19,986
	29,809,000	FHLB		0.345-0.380		06/07/16		29,789
	22,215,000	FHLB		0.620-0.670		06/08/16		22,189
	90,400,000	FHLB		0.350-0.390		06/10/16		90,333
	4,300,000	FHLB		0.620		06/13/16		4,295
	20,000,000	FHLB		0.390		06/15/16		19,984
	20,000,000	FHLB		0.365		06/16/16		19,985
	65,825,000	FHLB		0.370		06/17/16		65,773
	78,503,000	FHLB		0.365-0.390		06/22/16		78,437
	50,000,000	FHLB		0.365		06/24/16		49,957
	7,895,000	FHLB		0.570		07/08/16		7,883
	20,000,000	FHLB		0.410		07/20/16		19,975
	14,000,000	FHLB		0.390		07/25/16		13,983
	12,950,000	FHLB		0.390		07/26/16		12,934
	43,073,000	Federal Home Loan Mortgage Corp (FHLMC)		0.300-0.500		04/01/16		43,073
	31,186,000	FHLMC		0.270-0.350		04/04/16		31,185
	67,725,000	FHLMC		0.440-0.450		04/08/16		67,719
	30,000,000	FHLMC		0.450		04/12/16		29,996
	20,000,000	FHLMC		0.350		04/13/16		19,998
	15,200,000	FHLMC		0.380		04/14/16		15,198
	12,315,000	FHLMC		0.350		04/22/16		12,312

395

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	15,000,000	FHLMC		0.420	%	05/02/16	$	14,995
	50,000,000	FHLMC		0.390		05/04/16		49,982
	5,500,000	FHLMC		0.340		05/10/16		5,498
	40,000,000	FHLMC		0.380		06/28/16		39,963
	20,000,000	FHLMC		0.465		08/12/16		19,966
	7,890,000	FHLMC		0.500		08/26/16		7,874
	10,480,000	FHLMC		0.490		09/23/16		10,455
	12,400,000	FHLMC		0.590		10/19/16		12,359
	7,810,000	FHLMC		0.515		11/04/16		7,786
	10,000,000	FHLMC		0.520		11/07/16		9,968
	20,000,000	FHLMC		0.500-0.530		11/16/16		19,934
	4,600,000	FHLMC		0.540		12/01/16		4,583
	17,000,000	FHLMC		0.875		02/22/17		17,042
	1,580,000	Federal National Mortgage Association (FNMA)		0.250		04/06/16		1,580
	24,900,000	FNMA		0.300-0.370		04/13/16		24,897
	77,800,000	FNMA		0.340		04/14/16		77,790
	5,635,000	FNMA		0.375		04/15/16		5,634
	14,500,000	FNMA		0.350-0.370		04/20/16		14,497
	2,695,000	FNMA		0.320		04/27/16		2,694
	80,000,000	FNMA		0.360-0.520		05/02/16		79,971
	18,010,000	FNMA		0.370		05/04/16		18,004
	25,875,000	FNMA		0.290		05/13/16		25,866
	23,455,000	FNMA		0.335		05/18/16		23,445
	23,000,000	FNMA		0.250-0.370		05/23/16		22,988
	28,935,000	FNMA		0.640-0.650		06/08/16		28,900
	6,546,000	FNMA		0.545-0.550		07/06/16		6,536
	10,000,000	FNMA		0.510		10/18/16		9,972
	5,000,000	FNMA		0.480		10/20/16		4,987
	6,340,000	FNMA		0.530		10/28/16		6,320
	10,730,000	FNMA		0.570		11/01/16		10,694
	10,000,000	FNMA		0.535		11/04/16		9,968
	12,472,000	FNMA		1.250		01/30/17		12,530
		TOTAL GOVERNMENT AGENCY DEBT						3,086,956
TREASURY DEBT - 17.2%
	90,000,000	United States Treasury Bill		0.605-0.241		04/07/16		89,997
	35,000,000	United States Treasury Bill		0.073-0.280		04/14/16		34,998
	85,000,000	United States Treasury Bill		0.111-0.121		04/21/16		84,995
	100,000,000	United States Treasury Bill		0.155-0.311		04/28/16		99,982
	85,945,000	United States Treasury Bill		0.257-0.426		05/05/16		85,920
	61,540,000	United States Treasury Bill		0.255-0.338		05/12/16		61,519
	50,000,000	United States Treasury Bill		0.302-0.450		05/19/16		49,977
	67,230,000	United States Treasury Bill		0.281-0.321		05/26/16		67,199
	66,400,000	United States Treasury Bill		0.300-0.476		06/02/16		66,355
	45,000,000	United States Treasury Bill		0.296-0.404		06/09/16		44,969
	45,000,000	United States Treasury Bill		0.296-0.323		06/23/16		44,968
	20,000,000	United States Treasury Bill		0.447		07/07/16		19,976
	13,720,000	United States Treasury Bill		0.310		07/14/16		13,708
	32,265,000	United States Treasury Bill		0.382-0.395		07/28/16		32,224
	50,000,000	United States Treasury Bill		0.425-0.430		08/04/16		49,926
	30,000,000	United States Treasury Bill		0.409-0.414		08/11/16		29,955
	56,620,000	United States Treasury Bill		0.204-0.445		08/18/16		56,538
	25,000,000	United States Treasury Bill		0.380-0.396		08/25/16		24,961
	50,000,000	United States Treasury Bill		0.385-0.475		09/01/16		49,905

396

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	20,000,000		United States Treasury Bill		0.459	%	09/08/16	$	19,959
	64,730,000		United States Treasury Bill		0.394-0.452		09/22/16		64,595
	150,000,000		United States Treasury Note		0.250		04/15/16		150,003
	20,000,000		United States Treasury Note		0.375		04/30/16		20,001
	20,000,000		United States Treasury Note		0.250		05/15/16		19,997
	79,015,000		United States Treasury Note		0.375		05/31/16		79,030
	100,000,000		United States Treasury Note		0.500		06/15/16		100,024
	62,215,000		United States Treasury Note		0.500		06/30/16		62,238
	99,560,000		United States Treasury Note		0.625		07/15/16		99,640
	10,000,000		United States Treasury Note		0.500		07/31/16		10,003
	89,470,000		United States Treasury Note		0.625		08/15/16		89,534
	95,280,000		United States Treasury Note		0.500		08/31/16		95,283
	70,000,000		United States Treasury Note		0.875		09/15/16		70,114
	40,390,000		United States Treasury Note		0.500		09/30/16		40,388
	24,875,000		United States Treasury Note		0.375		10/31/16		24,858
	27,670,000		United States Treasury Note		0.625		11/15/16		27,685
			TOTAL TREASURY DEBT						1,981,424
VARIABLE RATE SECURITIES - 16.4%
	20,000,000	i,y	Bedford Row Funding Corp		0.376		04/01/16		20,000
	50,000,000	i	Federal Farm Credit Bank (FFCB)		0.402		04/21/16		50,000
	36,000,000	i	FFCB		0.530		06/09/16		36,006
	45,000,000	i	FFCB		0.420		06/23/16		44,998
	150,000,000	i	FFCB		0.412		08/10/16		149,991
	50,000,000	i	FFCB		0.412		08/24/16		49,994
	10,000,000	i	FFCB		0.458		10/11/16		10,001
	14,500,000	i	FFCB		0.550		12/16/16		14,501
	32,300,000	i	FFCB		0.480		12/30/16		32,283
	22,000,000	i	FFCB		0.410		01/13/17		22,000
	120,000,000	i	FFCB		0.412		01/24/17		119,995
	10,275,000	i	FFCB		0.444		01/30/17		10,266
	6,000,000	i	FFCB		0.478		02/13/17		5,998
	64,000,000	i	FFCB		0.437		02/23/17		63,983
	76,000,000	i	FFCB		0.441		03/02/17		76,000
	50,000,000	i	FFCB		0.500		03/09/17		49,981
	15,200,000	i	FFCB		0.500		04/10/17		15,201
	105,000,000	i	FFCB		0.431		06/15/17		104,991
	50,000,000	i	FFCB		0.500		06/27/17		49,950
	72,000,000	i	FFCB		0.421		07/17/17		71,994
	50,000,000	i	FFCB		0.470		08/04/17		49,986
	37,000,000	i	FFCB		0.491		02/02/18		36,925
	3,750,000	i	FFCB		0.590		02/06/18		3,748
	25,000,000	i	FFCB		0.582		02/23/18		24,993
	16,500,000	i	Federal Home Loan Bank (FHLB)		0.481		01/30/17		16,496
	60,000,000	i	FHLB		0.483		02/17/17		59,980
	50,000,000	i	FHLB		0.518		02/22/17		50,000
	50,000,000	i	Federal Home Loan Mortgage Corp (FHLMC)		0.427		07/21/16		49,998
	9,500,000	i	FHLMC		0.443		01/12/17		9,500
	60,000,000	i	FHLMC		0.443		01/13/17		59,996
	25,163,000	i	FHLMC		0.500		01/27/17		25,131
	11,300,000	i	FHLMC		0.437		04/20/17		11,295
	30,000,000	i	FHLMC		0.473		04/27/17		29,994
	50,000,000	i	FHLMC		0.562		07/21/17		49,993
	21,497,000	i	Federal National Mortgage Association (FNMA)		0.456		08/15/16		21,499

397

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	45,050,000	i	FNMA		0.448	%	01/26/17	$	45,055
	78,000,000	i	FNMA		0.452		07/20/17		77,927
	94,500,000	i	FNMA		0.451		08/16/17		94,487
	64,000,000	i	FNMA		0.451		10/05/17		63,961
	50,000,000	i	Wells Fargo Bank NA		0.590		04/11/16		50,000
	42,000,000	i	Wells Fargo Bank NA		0.783		06/02/16		42,013
			TOTAL VARIABLE RATE SECURITIES						1,871,110
			TOTAL SHORT-TERM INVESTMENTS						11,487,210
			(Cost $11,487,210)
			TOTAL INVESTMENTS - 99.9%						11,487,210
			(Cost $11,487,210)
			OTHER ASSETS & LIABILITIES, NET - 0.1%						7,935
			NET ASSETS - 100.0%					$	11,495,145

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 3/31/2016, the aggregate value of these securities was $3,160,280,000, or 27.5% of net assets.
	Cost amounts are in thousands.

398

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 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 is currently evaluating the implication of these amendments and the impact to the Account’s financial statements and related disclosures. As a result of these amendments, the CREF Board has approved the conversion of the Money Market Account to a “government money market fund.” The conversion will be effective on or before October 14, 2016.

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.

Certain portfolio investments that are measured at fair value using the net asset value per share practical expedient are not categorized within the fair value hierarchy. As of March 31, 2016, no investments were valued utilizing the practical expedient.

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

399

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

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.

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.

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 March 31, 2016, there were no material transfers between levels by the Accounts.

As of March 31, 2016, 100% of the value of investments in the Inflation-Linked Bond and Money Market Accounts were valued based on Level 2 inputs.

The following table summarizes the market value of the Accounts’ investments as of March 31, 2016, 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	$	11,026,462		$	4,768,998	$	2,943	$	15,798,403
Consumer staples		6,874,010			3,588,941		780		10,463,731
Energy		4,803,004			1,870,276		1		6,673,281
Financials		12,177,987			8,219,905		6,147		20,404,039
Health care		10,387,612			2,921,191		116		13,308,919
Industrials		8,308,872			4,264,874		1,562		12,575,308
Information technology		16,001,539			2,883,371		1,630		18,886,540
Materials		2,704,635			2,348,884		5,052		5,058,571
Telecommunication services		1,823,864			1,472,588		497		3,296,949
Utilities		2,686,386			1,049,832		5		3,736,223
Corporate bonds		-			-		434		434
Government bonds		-			305		-		305
Short-term investments		-			5,419,479		-		5,419,479
Purchased options**		6,002			-		-		6,002
Written options**		(2,093	)		-		-		(2,093	)
Futures**		7,557			-		-		7,557
Total	$	76,805,837		$	38,808,644	$	19,167	$	115,633,648

400

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

Account	Level 1		Level 2		Level 3		Total
Global Equities
Equity investments:
Asia	$	-	$	1,458,531	$	-	$	1,458,531
Australasia		-		338,015		-		338,015
Europe		165,938		3,380,753		-		3,546,691
North America		10,498,408		576,731		-		11,075,139
All other equity investments*		131,900		1,352,261		14		1,484,175
Short-term investments		-		613,639		-		613,639
Futures**		3,548		-		-		3,548
Total	$	10,799,794	$	7,719,930	$	14	$	18,519,738
Growth
Equity investments:
Consumer discretionary	$	4,932,683	$	113,466	$	-	$	5,046,149
Consumer staples		1,712,726		49,448		-		1,762,174
Health care		3,219,309		58,388		-		3,277,697
Information technology		6,711,952		32,086		-		6,744,038
Telecommunication services		301,456		11,004		-		312,460
All other equity investments*		4,149,790		-		-		4,149,790
Short-term investments		411,004		101,319		-		512,323
Futures**		1,899		-		-		1,899
Total	$	21,440,819	$	365,711	$	-	$	21,806,530
Equity Index
Equity investments:
Consumer discretionary	$	2,202,572	$	2	$	-	$	2,202,574
Financials		2,851,106		-		73		2,851,179
Health care		2,204,629		-		16		2,204,645
Industrials		1,761,893		-		119		1,762,012
Telecommunication services		402,817		-		118		402,935
All other equity investments*		6,810,100		-		-		6,810,100
Short-term investments		586,675		24,175		-		610,850
Futures**		649		-		-		649
Total	$	16,820,441	$	24,177	$	326	$	16,844,944
Bond Market
Bank loan obligations	$	-	$	93,291	$	-	$	93,291
Corporate bonds		-		4,845,746		-		4,845,746
Government bonds		-		6,762,643		-		6,762,643
Structured assets		-		1,753,514		19,889		1,773,403
Preferred Stocks		6,101		-		-		6,101
Short-term investments		-		1,217,356		-		1,217,356
Total	$	6,101	$	14,672,550	$	19,889	$	14,698,540

401

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

Account	Level 1		Level 2		Level 3		Total
Social Choice
Equity investments:
Consumer discretionary	$	749,783	$	321,541	$	-	$	1,071,324
Consumer staples		478,820		244,216		-		723,036
Energy		362,479		130,322		-		492,801
Financials		1,127,856		643,813		-		1,771,669
Health care		803,888		254,776		-		1,058,664
Industrials		513,160		309,524		-		822,684
Information technology		1,114,502		116,493		-		1,230,995
Materials		223,733		200,936		-		424,669
Telecommunication services		121,885		122,985		-		244,870
Utilities		186,909		107,910		-		294,819
Bank loan obligations		-		48,235		-		48,235
Corporate bonds		-		1,477,459		-		1,477,459
Government bonds		-		3,126,090		-		3,126,090
Structured assets		-		419,815		30,485		450,300
Short-term investments		-		797,620		-		797,620
Total	$	5,683,015	$	8,321,735	$	30,485	$	14,035,235

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

Note 3—derivative instruments

As defined by U.S. GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other 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 March 31, 2016, 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		1,870	$	191,815	June 2016	$	6,013
	S&P Mid-Cap 400 E-Mini		166		23,924	June 2016		933
	Russell 2000 Mini Index		156		17,310	June 2016		611
Total			2,192	$	233,049		$	7,557
Global Equities	S&P 500 Index E-Mini		987		101,242	June 2016		3,548
Growth	S&P 500 Index E-Mini		950		97,446	June 2016		1,899
Equity Index	S&P 500 Index E-Mini		181		18,566	June 2016		494
	S&P Mid-Cap 400 E-Mini		14		2,018	June 2016		85
	Russell 2000 Mini Index		17		1,886	June 2016		70
Total			212	$	22,470		$	649

Options: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. To manage the risk, the Accounts may invest in both equity and index options. The Accounts use options contracts for hedging and cash management purposes and to seek to increase total return. Call and put equity 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. Index options are written or purchased options in which the underlying investment is a specified index.

402

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

The exercise of an index option will not result in the physical delivery of the underlier, but a cash transfer of the difference between the settlement price of the underlier and the strike price 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 March 31, 2016 were as follows (dollar amounts are in thousands):

	Number of contracts		Value
Stock Account
Apple, Inc, Call, 7/15/16 at $115		530	$	154
Express Scripts Holding Co, Call, 11/18/16 at $80		30		5
Goldman Sachs Group, Inc, Put, 4/15/16 at $150		10		1
Morgan Stanley, Put, 4/15/16 at $25		20		1
S&P 500 Index, Call, 4/15/16 at $2120		100		7
S&P 500 Index, Call, 5/20/16 at $2150		100		30
S&P 500 Index, Put, 6/17/16 at $1850		25		33
S&P 500 Index, Put, 9/16/16 at $1700		3,000		5,580
S&P 500 Index, Put, 12/16/16 at $1800		10		50
S&P 500 Index, Put, 12/16/16 at $1900		20		141
Total		3,845	$	6,002

Written options outstanding as of March 31, 2016 were as follows (dollar amounts are in thousands):

	Number of Contracts		Value
Stock Account
Apple, Inc, Call, 7/15/16 at $120		1,060	$	(168	)
ConocoPhillips, Call, 4/15/16 at $50		20		-
Express Scripts Holding Co, Put, 8/19/16 at $60		30		(5	)
Express Scripts Holding Co, Call, 11/18/16 at $90		30		(1	)
Goldman Sachs Group, Inc, Put, 4/15/16 at $145		20		(1	)
LyondellBasell Industries NV, Put, 4/15/16 at $70		20		-
Morgan Stanley, Put, 4/15/16 at $24		40		(1	)
Pinnacle Foods, Inc, Put, 4/15/16 at $37.50		20		-
QUALCOMM, Inc, Call, 4/8/16 at $55		30		-
S&P 500 Index, Put, 4/1/16 at $1925		50		(1	)
S&P 500 Index, Put, 4/8/16 at $1975		50		(5	)
S&P 500 Index, Put, 4/8/16 at $1900		50		(2	)
S&P 500 Index, Put, 4/15/16 at $1800		100		(3	)
S&P 500 Index, Put, 4/15/16 at $1900		50		(4	)
S&P 500 Index, Put, 5/20/16 at $1850		100		(54	)
S&P 500 Index, Put, 6/17/16 at $1725		50		(28	)
S&P 500 Index, Call, 6/17/16 at $2175		40		(17	)
S&P 500 Index, Call, 6/17/16 at $2200		50		(11	)
S&P 500 Index, Call, 9/16/16 at $2275		130		(51	)
S&P 500 Index, Call, 12/16/16 at $2300		450		(427	)
S&P 500 Index, Call, 12/16/16 at $2275		250		(315	)
S&P 500 Index, Call, 12/16/16 at $2250		350		(672	)
S&P 500 Index, Call, 12/16/16 at $2325		210		(123	)
S&P 500 Index, Call, 12/16/16 at $2350		50		(19	)
S&P 500 Index, Put, 12/16/16 at $1700		40		(139	)
S&P 500 Index, Put, 12/16/16 at $1575		20		(46	)
Skyworks Solutions, Inc, Put, 4/8/16 at $66.50		10		-
Total		3,320	$	(2,093	)

403

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

Note 4—affiliated investments

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

	Value at			Purchase		Sales		Realized			Dividend		Shares at		Value at
Issue	December 31, 2015			cost		proceeds		gain (loss)			income		March 31, 2016		March 31, 2016
Stock Account
Container Store Group, Inc	$	-	*	$	17,744	$	-	$	-		$	-		4,041,054	$	23,721
Olin Corp		165,438			7,236		16,080		(5,123	)		1,814		8,965,548		155,732
	$	165,438		$	24,980	$	16,080	$	(5,123	)	$	1,814			$	179,453
Growth Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	533,631		$	-	$	122,627	$	-		$	-		411,003,549	$	411,004
Equity Index Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	572,035		$	64,556	$	49,916	$	-		$	-		586,674,812	$	586,675

* Not an affiliate investment as of December 31, 2015

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 March 31, 2016, securities lending transactions (with the exception of the 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 Social Choice Account, all loans from securities lending transactions are continuous, can be recalled at any time, and have no set maturity, with $211,979,000 of equity securities pledged as collateral and $185,443,000 of fixed income securities pledged as collateral. 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.

404

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

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 roll 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.

Net unrealized appreciation (depreciation): At March 31, 2016, 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	$	11,723,674	$	(7,376,038	)	$	4,347,636
Global Equities		1,864,083		(1,044,716	)		819,367
Growth		4,291,890		(597,917	)		3,693,973
Equity Index		7,795,796		(750,602	)		7,045,194
Bond Market		337,525		(135,322	)		202,203
Inflation-Linked Bond		440,597		(26,142	)		414,455
Social Choice		2,225,068		(474,605	)		1,750,463

405

Item 2. Controls and Procedures.

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

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

Item 3. Exhibits.

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

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

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	COLLEGE RETIREMENT EQUITIES FUND
Date: May 16, 2016	By:	/s/ Robert G. Leary
		Robert G. Leary
		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: May 16, 2016	By:	/s/ Robert G. Leary
		Robert G. Leary
		Executive Vice President
		(principal executive officer)

Date: May 16, 2016	By:	/s/ Virginia M. Wilson
		Virginia M. Wilson
		Executive Vice President, and Treasurer
		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: May 16, 2016	By:	/s/ Robert G. Leary
		Robert G. Leary
		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: May 16, 2016	By:	/s/Virginia M. Wilson
		Virginia M. Wilson
		Executive Vice President,
		Chief Financial Officer and
		Principal Accounting Officer
		(principal financial officer)